The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
H U N T ’S M E R C H A N T S ’ M A G A Z IN E ,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATES
VOL 46.
NEW YORK, MARCH 10, 1888.
Sfiuauxial.
ffitxatijcial.
A M E R IC A N
Bank Note Company,
7 8 TO 86 TRINITY PLACE,
NEW YORK.
B usiness F o u n d ed 1795«
Incorporated under Laws o f State o f New York, 1858*
R e o rg a n iz e d 1879*
E ngravers and P rinters of
B O N D S, P O S TA G E & R EVEN UE S TA M P S ,
L E G A L T E N D E R A N D N A T IO N A L B A N K
N O T E S of the U N IT E D S T A T E S ; and for
Foreign G overnm ents. .
ENGRAVING AND PRINTING,
B A N E NOTES, SH A R E C E R T IFIC A T E S, BONOS
F o r g o v e r n m e n t s a n o c o r p o r a t io n s ,
D R A F T S, CHECKS, B IL L S O F EXCHANGE,
STA M PS, Ac., In th e finest a n d m o st a rtistic sty le
FR O M S T E E L P L A T E S ,
With SPECIAL SAFEGUARDS to PREVENT COUNTERFEITING.
Special papers manufactured exclusively for
use o f th e Company.
M
S A F E T Y C O LO R S .
S A FETY PAPERS.
fin a n c ia l.
R. A. Lancaster & Co.,
DIAMONDS.
BANKERS,
Alfred H. Smith & Co.,
N o. 10 W A L L S T R E E T ,
SE W YORK.
IM PO RTER S,
182 Broadway, Cor. John Street.
DEALERS IN
INVESTMENT and MISCELLANEOUS
SECURITIES.
s o u t h e r n S e c u r it ie s a S p e c ia lt y .
SOLID SILVER.
Wm. G. Hopper & Co.,
GORHAM M’l ’g Co.,
BANKERS ANDJBROKERS, ;
Broadway and N ineteenth Street,
AND 9 MAIDEN LANE.
W o rk Executed in F ire p ro o f B uildings.
NO. 1,185.
2 8 S o u t h T h ir d S t r e e t ,
LITHOGRAPHIC AND TYPE PRINTING.
PHILADELPHIA.;
R A IL W A V T IC K E T S O F IM PR O V ED ST Y LES.
Show C ards, L abels, Calendars.
BLANK B00K8 OF EVERY DESCRIPTION
E stab lished 1854.
JAMES MACD0N0UGH, President
AUG. D. SHEPARD,
j J*
_
§
,
T0 U R 0 ROBERTSON,
j Vice-Presidents.
TH EO . H. FREELAND, Sec’y and Treas.
JNO. E. CURRIER, Ass’t Sec’y.
________
150 B R O A D W A Y , N E W Y O R K .
G u aran teed Six P e r Cent M ortgages
l
Maverick National Bank
BO STO N ,
C A P IT A L ,
SURPLUS,
-
-
C A PIT A L (FULLY PA ID ) ....................$1,000,000
TO TA L V A LU E OF G U A R A N T Y .... 2,400,000
T ru ste e s and Investors generally a re req u ested
to call and exam ine th e se securities, or send fo r
p am p h let giving fu ll inform ation.
M A S S.
-
9400,000
9600,000
A ccounts o f B anks, B ankers an d Corporations
eoliolted.
Our facu lties fo r COLLECTIONS a re ex cellen t
e n d w e re-disoount fo r banks w hen balances w ar.
r a n t it.
B oston is a re serv e city, an d balanoes w ith u s fro m
banks (not located in o th e r reserv e cities) c o u n t as a
reserve.
W e draw o u r own exchange on London an d th e
C ontinent, a n d m ake Cable tra n sfe rs a n d place
m oney by teleg rap h th ro u g h o u t th e U n ited b ta te s
a n d Canada.
G overnm ent Bonds bought an d sold, a n d exchange«
in W ashington m ade fo r banks w ith o u t e x tra charge.
W e h av e a m a rk e t fo r prim e first-class In v e stm e n t
Securities, an d in v ite proposals fro m S tates, Coun
tie s and Cities, w hen issuing bonds.
W e do a general banking business, an d in v ite cor
respondence.
A S A P . P O T T E R , President.
JOS. W . W O R K , C ashier.
W . P. W ight & Co.,
7 2 B ro a d w a y ,
STOCK B ROKERS.
Stoeks, B onds a n d M iscellaneous Securities bough
on m argin.
W . P . W ig h t ,
j . b . Cr e ig h t o n
Memb. N.Y. Stock E xoh.
A . B. Cl a f l i n , Spec
and sold fo r cash o r
STOCK B R O K E R .
Lansdale Boardman,
N R W Y O R K , 80 BROADWAY A 5 NEW 81
T R O T , N .Y ., No. 17 FIRST STREET.
StockExch. membership; private wlres;'all facilXtie
Inco rp o rated 1882
Lombard Investment Co.,
S. A . K e a n .
J ohn Farso n
S. A. Kean & Co.,
BANKERS,
2 WALL STREET.
D eposit accounts received subject to check.
In te re s t bearing certificates Issued.
C ounty, City, Town and School B onds c o n sta n tly
on h an d .
The Finance ¡Company
O F P E N N S Y L V A N IA .
Ch a r t e r P e r p e t u a l .
Authorized Capital, - - - -
65,000,000
131 TO 141 SOUTH FO U R T H ST R E ET ,
(B u l l it t B u il d in g ),
P H IL A D ELPHIA.
General Banking Business conducted.
State, Municipal and R ailroad Securities
negotiated.
DIRECTORS:
W h arto n B arker,
C harlem agne Tow er, J r.,
J o h n H . Converse,
T. M orris P e ro t,
G eorge DeB. Keim,
G eorge W . B labon,
Ja m e s D ougherty,
P h ilip C. G a rre tt,
Sim on B. Fleisher,
Isa ac R. Childs,
Isaac H ough.
W H A R T O N B A R K E R , P resid e n t.
CH ARLEM AGNE TO W ER, J r ., V ice-President.
SIMON A . STERN, T rea su re r.
R U SSELL STURGIS H U BB A R D , Secretary.
D a v is o n B r o w n .
Stew art
G eo . A l e x a n d e r B r o w n ,
B
r o w n ’s
S o n s,
M embers New Y ork [Stock E xchanged
STO CK B R O K E R S ,
64 B r o a d w a y * 1 9 N o w St., N e w Y o r k
D esirable SIX P E R ¡CENT W A TER BONDS and
o th er first-class securities fo r sale. ]
D irectlprivate w ire to H a r r is , F u l l e r '& b ic k New York.
ley,
R. J. Kimball & Co.,
[E stablished in 1865.]
BANKERS AND BROKERS,
16 * 18 B r o a d Street, N e w Y o rk ,
M embers o f tb e New York Stock Exchange and o f
th e Philadelphia Stock Exchange.
R o b e r t J . K im b a l l . A l f r e d B. L o u n s b ir b
Simon Borg & Co.,
N o. 96 N A S S A U ST ., N E W Y O R K ,
DEALERS IN AT.T. KINDS OF
Railroad and Investm ent Securities.
S o u t h e r n S e c u r it ie s a S p e c ia l t y .
Bank of Buffalo,!
BUFFARLO, N. Y.
8. S. J e w e t t , P res.
W m . c . Co r n w e l l , Cash’r.
Capital....6300,000 I Surplus..... 6950,000
This B ank has superior facilities fo r m aking Col
lections in and o u t of th e city on th e m ost liberal
term s, a nd w ith careful a tte n tio n to th e b est in te r
ests or its correspondents.
Co r r e s p o n d e n t s :—Im porters’ & T raders’ Na
tional B ank and Chemical N ational Bank, New York;
M erchants’ L oan & T ru st Co., Chicago; U nion B ank
of L ondon, London.
W. M. Tewksbury, "
BANKER,!
m
11 W a ll Street 5
AND
NEW YORK,
30 W est 99th Street.
H A R TFO R D , CONN., 39 Pearl St.
(All offices connected by exclusive p riv a te wire.)
IN V ESTM EN T SEC U R IT IES A SP EC IA I/PY ,
TH E CHRONICLE.
11
[V o l,
XLYI.
gatx&ers jtoä grawers of Wovzign %xtlmuQz.
THE
Drexel, Morgan & Co., August Belmont & Co., I N V E S T M E N T CO.
BANKERS,
W ALL ST R E ET , C O RN ER O P BROAD,
N o. 3 6 W A L L S T R E E T ,
N E W YORK.
o f Philadelphia.
A
C
gents a n d
Drexel, Harjes & Co
D rexel & Co.,
5th St C h estn u t Sts. 31 B oulevard H aussm ann,
orrespondents op th e
M e ss rs . R O T H S C H IL D ,
London, P a r is , F r a n k fo r t an d V ien n a .
Issu e C ircular C redits fo r tra v e le rs, available in
P A R IS .
a ll p a rts of th e w orld.
ALSO COMM ERCIAL CRED ITS.
B O M E S T IO A N D F O R E IG N B A N K E R S .
D raw Bills of E xchange and m ake Cable T ra n sfe rs
D enosits received su b ject to D ra ft. Securities to Europe, W est Indies, Mexico a n d C alifornia.
oougiit a n d sold on commission. In te re s t allow ed on
D e c e its . Foreign Rxchange. Commercl^_ Credits.
Cable T ransfers. C ircular L e tte rs fo r T ravelers,
available in all p arts o f th e world.
P H IL A D E L P H IA
Kidder, Peabody & Co.,
ATTORNEYS AND AGENTS 0*7
M essrs. J . 8. M O R G A N & CO.,
No, 2 2 O L D B R O A D S T R E E T , LO N D O N .
N E W Y O R K A N D BO STO N,
Brown Brothers & Co. ,
BARING B R O T H E R S & CO.,
ATTORNEYS AN D AGENTS OP
EW YOKE, P H IL A D E L P H IA , BOSTON, AND
A L E X A N D E R B R O W N & SONS,
LONDON.
Commercial Credits.
BALTIM ORE.
Members of New York, P hiladelphia a n d B altim ore
Stock Exchanges.
Circular Credits for Travelers.
E xecute orders fo r all in v estm en t securities. Reeiveaccounts o f Banks, Bankers, Corporations and
F irm s, on favorable term s. Buy and sell B illso f E x
ch an g e on G reat B ritain and Ireland, F rance, Ca b l e T r a n s f e r s a n d B il l s o f E x c h a n g e on
G erm any, Belgium, H olland, Switzerland, Nor
G r e a t B r it a in a n d t h e Co n t in e n t .
way. D enm ark, Sweden. A ustralia, St. Thom as,
S t. Croix and B ritish W est Indies. Issue Com
m ercial and T rav elers’ C redits in sterling, avail
ab le m any p a rt o f th e world, in f r a n c s for
u se in M artinique andG uadaloupe, a n d in dollars for
use in th is country, Canada, Mexico and W est Indies.
M ake telegraphic tra n sfe rs of m oney betw een this
SU C C ESSO R S TO
eountry, Europe and B ritish and D anish W est In*
dies. Make collections of d ra fts draw n abroad on all
J E S U P , P A T O N & C O .,
points in U nited S tates an d Canada, a n d o f drafts
draw n in th e U n ited S tates on foreign c o u n tpjtes.
52 W illia m Street N e w Y o r k .
T h eir London house, Messrs. BROW N, SH IP L E Y
Acoonnts and Agency of Banks, C orporations,
A CO., receive accounts o f A m erican banks, firms firms
and individuals received upon favorable term s.
a n d individuals upon favorable term s.
Dividends a nd in te re st collected and rem itted.
BROWN, 8H IP L E Y & CO., Liverpool.
A ct as agents fo r corporations in paying oonpons
BROW N, S H IP L E Y & CO.. London.
and d iv id ends; also as tra n sfe r agents.
U. S. G overnm ent F inancial A gents in England.
Bonds, stocks and securities bought and sold on
commission, a t th e Stock Exchange or elsewhere.
Sterling Exchange and Cable T ransfers bought and
sold.
John Paton & Co.,
J. & J. Stuart & Co.,
J
33 N A S S A U
STR EET.
BILLS OF EXCHANGE ON
SM ITH ,
PAYNE
A
S M I T H ’ S,
BANKERS, LONDON,
M ANCHESTER
A
COUNTY B A N K ,
“ L IM IT E D ”
M ANCHESTER, PA Y A B LE IN LONDON:
ULSTER
B A N K IN G
COM PANY,
B ELFA ST, IR ELA N D
AND ON THE
N A T IO N A L
BANK
OF
SCOTLAND,
EDINBU RG H
AND B RA N CH ES;
ALSO,
CABLE TR A N SFER S AND LE T T E R S OF CRED IT.
J ohn
M
unroe
& Co.,
* N o . 32 N assau Street, N e w Yorfc.
No. 4 P o st Office Square, B oston .
d r a w on
T H E UNION BANK OF LONDON,
B R IT IS H L IN EN CO. BANK, LONDON AND
SCOTLAND.
J. & W. Seligman& Co.,
BA NK ERS,
N o. 23 B R O A D S T R E E T ,
N e w Y ork .
Issue Letters o f Credit for Travelers
On 8ELIGM AN BROTHERS, London.
SEL1GMAN FR ER ES St C IS, Paris.
8BLIGM AN St STETTHEIM HR, F ran k fu rt.
A LSBERG , GOLDBERG St CO., A m sterdam .
ALTM AN « STETTH EIM B R , Berlin,
P ayable in any p a rt of Europe, Asia, A frica. Aus
tra lia and Am erica.
Draw Bills of E xchange and m ake Telegraphlo
T ran sfers o f Money on Europe and California.
J . K e n n e d y T od .
H . O. N orthco tb .
ALEXANDER BARING,
Member N. Y. Stock E xch’ge
J. Kennedy Tod & Co.,
Issu e Clroular L e tte rs o f C redit fo r T rav elers’ Use
▲broad ag ain st Cash o r Satisfactory
G u aran ty o f Re-paym ent.
NO. 6 3 W IL L IA M S T R E E T ,
BANKERS.
E x c h a n g e o n L o n d o n , P a ris , B e rlin ,
Z u ric h a n d St. G all.
A ct as A gents fo r Banks, B ankers and R ailroa
Companies.
Issue commercial credits, also foreign and domestlo
tra v e le rs’le tte rs of cre d it in pounds sterling St dollars
Sh e d it s o p e n e d a n d p a y m e n t s m a d e b y c a b l e .
Offer Investm ent Securities.
P a ris H o u se —M U N R O E A CO.
Buy and sell bonds, stocks and securities lu all Am
erican, Canadian, B ritish and D utch m arkets on com
mission. Collect dividends, coupons and foreign and
Inland D rafts.
Sell Bills of Exchange on
Schulz & Ruckgaber,
.BANKERS,
29 W I L L I A M S T R E E T , N E W Y O R K ,
CORRESPONDENTS o p t h e
M A B C P A B P . KB-APSS Ac CO., 1 p . h im
H O T T IN G U E R A CO.»
jr A U i» .
In te rn a tio n a l B a n k o f L o n d o n
(L im ite d ), L o n d o n .
Messrs. J o h n B ere n berg ,G o ssle r A Co.,
H am bu rg.
M e s s rs .M a rc u a rd ,K ra u s s A Co., P a ris .
Maitland, Phelps & Co.,
Commercial and T rav elers’ Credits.
B ills o f E xchange.
Cable T ransfers.
B A N K E R S
Geo . Co p p e l l .
T h o s . Ma it l a n d .
G e r a l d L. H o y t , M ember N. Y. Stock E xch.
AND
T H E N EW YORK
Produce Exchange Bank.
C A P IT A L , 8 1 ,0 0 0 ,0 0 0 .
T ran sacts a general banking business.
R eceives accounts o f banks, bankers a n d corpora
tio n s upon favorable term s,
Issues certificates o f deposit bearing In terest.
M akes lo an s upon approved m erchandise.
Solicits m ercantile a n d personal accounts.
B ills o f E x c h a n g e B r a w n o n the City
B a n k , Lim ited, L o n d o n .
COMMISSION
MERCHANTS,
22 4c 24 E x ch an ge Place ,
N ew Y ork .
CHESTNUT
STREET
C a p ita l, 8 4 ,0 0 0 ,0 0 0 . F u ll P a id .
CONDUCTS A G EN ERA L BANKING BUSINESS
Allows in te re s t on cash deposits, s u b jec t to check
or on Certificates.
B uys a nd sells Bills o f E xchange, draw ing on
Baring Bros. St Co., L on d o n ; P e rie r F reres e t d e
p a rts; M endelssohn A Co., B erlin, a nd on P a u l
M endelssohn-Bartholdy, H am burg.
N egotiates Securities, R ailroad, S tate, M unlcipa
etc.
Offers fo r sale first-class In v estm en t Securities.
W ILLIA M BROCKIE. P resident.
W H ARTON B A R K E R , V ice-President.
H EN R Y M. HO Y T, J r ., T reasurer.
B TH B LB B R T W ATTS, Secretary.
B oard of D irectors—W illiam Brockie, G eorge 8
Pepper, M orton McMichael, W harton Barker, H enry
C. Gibson, T. W istar Brow n, Isaac H . Clothier.
A dvisory C om m ittee of Stockholders.—W illiam
P o tte r, G eorge M. T routm an, G ustavus English«
W illiam P epper, M. D., Thom as D olan, Jo h n G.
Reading, Joseph E . Gillingham , Jo h n W anam aker
H enry E. Sm ith, Craige Lippincott, H am ilton
D isston, C layton French, Francis R aw le, W illiam
W ood. W alter G a rre tt.
KOUNTZE BR O T H ER S,
BANKERS,
1 2 0 B r o a d w a y , E q u ita b le B u ild in g , N e w Y o rk .
L E T T E R S O F C R E D IT A N D
C IR C U L A R NOTES
Issued fo r th e use o f trav elers In all parts o f th e
w orld. Bills draw n on th e U nion B ank of L ondon.
Telegraphlo tra n sfe rs m ade to London and to vario u s
ll aces in th e U nited S tates. D eposits received, subeot to check a t sight, and In te re st allow ed on bal
ances. G overnm ent and o th e r bonds and In v e stg e n t securities bought a nd sold on commission.
i
g a t i l t e x s a tt Ä g tfjo fo je rs.
W a l st o n H . B r o w n .
F ried , a , B r o w n .
H e r b e r t p . Br o w n .
Walston H. Brown & Bros
BANKERS.
A ccounts of C orporations and Individuals received
upon Liberal Term s. Securities B ought and Sold on
Commission.
N o. 20 N A S S A U S T R E E T ,
NEW YORK.
John H. Davis & Co.,
BANKERS AND BROKERS,
NO. 10 W A L L
ST ., N E W Y O R K .
O rders fo r Stocks an d Bonds executed a t ail
E xchanges.
,
E special a tte n tio n given to supplying high-class
IN V E S T M E N T S E C U R IT IE S .
Chrystie & Janney,
BANKERS,
25 N assau Street, N e w Y o r k ,
R eceive deposits su b ject to check a t sight a nd
allow in te re s t on balances.
D eal Lin R ailroad bonds, S tate, C ounty an d M uni
cipal Securities.
Give special a tte n tio n to consignm ents of Bullion
a n d m ake liberal advances on sam e w hen desired.
Wood, Huestis & Co.,
31 P IN E STREET, NEW YORK,
BANK ER S AND BROKERS,
SUCCESSORS TO
WOOD
& D A V IS .
E x ecu te o rders in all securities liste d a t th e New
Y ork Stock Exchange. F o r S a le :
F ir s t -C l a ss R a il r o a d F ir s t Mo r t g a g e B o n d s .
GEORGE C. WOOD. C .H . H U EST IS. L.M .SW A N .
H ir a m D e w in g . Cl a r k De w in g . F.T.B ontecou
(Mem ber of N. Y. Stock E xchange.)
H. Dewing & Son,
BANK ER S AND BROKERS,
N o. 18 W a l l Street, N e w Y o r k .
Stocks an d bonds bought a nd sold on commission.
P a rtic u la r a tte n tio n given to in form ation re g a rd
ing In v e stm e n t Securities.
_
Iow a L oan & T u s t Co. Ö p er c en t D ebentures
BILLS OF EXCHANGE, LETT ER S OF CREDIT,
T E LE G R A PH IC TR A N SFER S OF MONEY ON b o ught a nd sold.
LONDON, P A R IS, MEXICO, CUBA, Stc., Ac.
C a n a d ia n B a n k o f C o m m e r c e .
CAPITAL, $6,000 000.
SURPLUS, $500 000.
J. H. ftOADBY & ALEX. LAIRD,
AGENTS,
16 E X C H A N G E P L A C E , N E W Y O R K
C ir c u la r L e tte r s of C re d it is s u e d fo r
BUY AND HELL STERLING EXCHANGE, CABLE
r a v e l e r s u s e , a n d C o m m e rc ia l C re d its
TRA N SFERS, BTC.
o p e n e d i n E u r o p e , A s i a , S o u t h A m e r i c a ISSUES COMMERCIAL CREDITS, A V A ILA B LE
I
IN ALL PARTS OF THB W9RL»,
I 1 1 1 ? W ?S t In d ie s ,
310
J. L. Robertson,
BO N D AND STOCK B R O K E B ,
D ealer in Investm ent Securities,
No. 7 NASSAU STREET,
(Continental National Bank Building,)
N ew Y o rk .
■ tv " ?
TH E CHRONICLE
M a r c h 1 0 ,1 8 8 8 , j
iii
%Kukzx$ and %xnkzx& in Uten* ^ x k ©its.
Taintor & Holt,
54 and 56 B R O A D W A Y , New York.
BANKERS,
BANKERS,
N o. 11 W a l l St., Cor. N e w , N e w Y o rk .
TRANSACT a G EN ERA L BANKING business.
D EPOSITS received and IN T E R E S T allow ed on
balances.
B ny a n d sell GOVERNM ENT, M U N ICIPA L and
RA ILR O A D Securities.
P riv a te teleg rap h w ires to Providence an d B oston
GEO. H . H O LT
G IL ES E . TA ITO R,
G .D . L ’H U IL IE R .
Geo. K. Sistare’s Sons,
16 & 18 B r o a d Street, N e w Y o rk .
131 Sou th T h ir d Street, P h ila d e lp h ia
D EA LERS IN GOVERNMENT, M U N ICIPA L AND
RA ILR O A D SECURITIES.
DEMAND D EPOSIT ACCOUNTS R EC EIVED .
IN T ER EST A LLOW ED ON D A ILY BALANCB8
Harriman
6c Co.
W m . M. H a r r im a n ,
)
N ic h o l a s F i s h ,
>
Ol iv e r h a r r im a n , J r .
)
BANKERS AND BROKERS,
BANKERS AND BROKERS,
Harvey Fisk
3 8 NA SSA U S T R E E T , N EW Y O R K .
BANKERS.
D e a l e r s i n U n ite d S t a t e s B o n d e a n d O t h e r
D e s ir a b le S e c u ritie s .
D eposit acco u n ts received a n d in te re s t allow ed on
balances.
m e m b er s n . y . stock e x c h a n g e .
J, S. f a b l e e .
[ESTABLISHED 1862],
BANKERS AND BROKERS,
61 & S3 N e w Street a n d 43 B ro a d w a y ,
& Sons,
Robert d . f a r l e e .
c h a s . J . T o w n se n d ,
L a n s in g c . W a s h b u r n
Mem ber N.V. Stock E xchange.
J n o . P . T o w n se n d , Special P a rtn e r.
Transact a General Banking Business,
Stocks a nd Bonds bought and sold on Commission.
Collections m ade and loans negotiated,
D ividends and In te re st collected.
Deposits received subjeot to D ra ft,
in te re s t allowed. In v e stm e n t securities a specialty
W e Issue a F inancial R eport w eekly.
J o s . C. W alcott ,
> M embers of th e New Yo»
F r > «"t F- D tcktnsow, 1
»took Exchange.
Office of th e P neum atic Steering G ear & Mfg.Co
L. C. L a t h b o p . Os c a r B. Sm it h , j . II.O l ip h a n t
J N o. 7 N A S S A U ST., N E W Y O R K ,
Lathrop, Smith & Oliphant,
BROKERS AND D EA LERS IN
IN V E S T M E N T
75 Old B r o a d Street, E . C., LO N D O N .
No. 34 P in e Street, N e w Y o r k .
J. S. Farlee 6c Brother,
B r a n c h O f f ic e , 91 L e o n a r d St r e e t ,
NEW YORK.
Solicit A ccounts a nd O rder for th e Purchase and'
Sale of B onds, Shares, &c., &c., on Commission, in
New York, B oston, Chicago, L ondon or Paris,
In te re s t allowed on deposits subject to d ra fts a t
sight.
Members of th e New York and B oston Stock E x
changes a nd o f th e New Y ork and Chloago Produce
Exchanges.
P riv ate w ires to Chicago, St. Paul, B oston, H a r t
ford, Buffalo and U tica.
J. C. Walcott 6c Co.,
Buy and sell on Commission, lo r cash or on margin,
all securities d ealt in a t th e New Y ork Stock E x
change.
In te re s t allowed on daily balances.
All deposits su b ject to check a t sight.
P a rticu la r atte n tio n to orders by m all o r te le g ra m ,
W a l t e r D e l Ma r .
Special Attention Given to American
Securities.
E Q U IT A B L E B U IL D IN G ,
130 B ro a d w a y .
F I R S T -C L A S S I N V E S T M E N T S .
E. L. Oppenheim 6c Co.,
BA RTH OLO M EW H OUSE, ) T
BA RTH OLO M EW LANE) J LONDON.
18 W A L L a n d 3 N A S SA U S T R E E T S
NEW YORK.
Transact a General Banking Business.
C onnected by P riv a te W ire w ith m ain office, N et
Y ork.
D EA L ER S IN
E d w a r d L . Op p e n h e i m .
H. L. Horton 6c Co.,
H. B. Hollins & Co.,
BONDS,
BANK ERS AND BROKERS,
STA TE, M U N ICIPA L AND A PPR O V ED R A IL
ROAD BONDS.
Co r r e s p o n d e n c e So l ic it e d .
37 BROAD ST R E E T , NEW Y O R K ,
M embers New Y ork Stock Exchange, New York
C otton Exchange, and B oard of T rade Chicago.
Townsend 6c Washburn, W. H. Goadby & Co.>
BANKERS AND BROKERS,
No. 6 W a l l Street, N e w Y o r k .
Stooks and Bonds B ought a n d Sold on Commission
to r cash or on m argin.
Special a tte n tio n given to U nlisted Securities.
iDeposits receivsa, subject to Check a t Sight.
Correspondence solicited.
T. 8. Y o u n g , J r .,
M ember N.Y. Stock Exchange.
W . S. N elson
No.
34
BRO AD
BANKERS,
10 W a l l Street, N e w Y o rk .
ST R E E T ,
N e w Y o rk .
Stocks, Bonds and Cottoo,
Alexander Campbell & Co.,
BANKERS AND BROKERS,
Young & Nelson,
36 P I N E S T R E E T , N E W
BANKERS AND BROKERS,
Green 6c Bateman.
B A N K E R S AN D B R O K E R S ,
Transact a General Banking Business
Interest allowed on Deposits.
V . H . D ic k in s o n ,
E d w a r d P . A l l in g
M ember N. Y. Stock E xchange.
YORK.
Dickinson 6c Ailing,
36 W a ll Street. New York.
All stocks an d secu rities d ealt in a t th e New York
Stock E xchange bought and sold on commission, for
cash or on m argin. Deposits received and in te re st
allowed on balances.
BROKER,
Bny and sell a t N. Y. Stock E xchange, fo r IN
VESTMENT or on M ARGIN, all classes of Stocks
and Bonds, a nd allow in te re s t on deposits, subject to
oheck a t sight.
B A N K ER S,
18 W A L L
aN »
Miscellaneous Securities
M ILLS B U ILD IN G (Sd Floor,)
Rooms 25 & 26.
35 W ALL. ST R E ET .
8T A T E AND CITY BONDS OF GEORGIA, also
SECU RITIES OF T H E CEN TR A L R R. & BANK
ING CO. OF GEORGIA, A SPECIALTY.
Inv esto rs wishing to buy o r »ell a re invited to call
o r correspond. P ro m p t an d personal a tte n tio n
given to all orders.
STREET,
E s ta b lis h e d
NEW
YORK.
H. G. Campbell 6c Co.,
1865.
Investment Securities.
A. M. K id d e r ,
H . J. M o r s e ,
Rolston 6c Bass,
STREET,
NEW
YORK.
ST O C K S, B O N D S,
A N D M IS C E L L A N E O U S S E C U R IT IE S
C orrespondence solicited.
Q uotations cheerfully furnisher
W m. h . rolston ,
w . A l e x , b a s s , J r.
M ember N. Y. Stock Kxch’ge.
James D. Simons,
(Form erly SIMONS & C H E W )
BANK ER & BROKER,
3 Exchange Court tfc 53 Broadway, N. S,
A ll Securities d ealt in a t N. Y. Stock Exchange
boug nt and sold for Cash o r on M argin. Special a tte a
tio n given investm ents. C orrespondence solicited i
M emberN. Y. Stock Exchange.
_ ■a s» » -* — .
M ember N. Y. P roduce E x c h a n g e ..!^
?
B A N K E R S AND B R O K E R S ,
9 N ew
S tre e t a n d 7 4 B ro a d w a y ,
NEW
YORK
•
Wayland Tra sk ,
Ch a s . D. Ma r v in ,
Hamilton 6c Bishop,
N e w Y o rk .
Special a tte n tio n given to in v estm en ts. In te re s t
allow ed on deposits, su b ject to check a t sight.
H e n r y G. Ca m p b e l l , ) M embers N. Y. Stock
J . B o r d e n H a r r im a n , $
E xchange.
M EM BERS OF NEW Y O R K STOCK EXCHANGE.
Allow in te re s t on deposits subject to sig h t check.
Buy and sell on commission stocks and bonds eith e r
fo r cash or on m argin, and deal in
Howard Lapsley 6c Co., IBo o J m.
BA NK ERS AND BROKERS,
J V t c l b e ii a t t
73 BRO A D W A Y and 9 NEW ST R E E T ,
NO. 2 0 B R O A D
BANKERS
AND
BROKER
N o. 30 P in e Street, N e w Y o rk .
db.JìlL'fCitÙebdjCo
A. Dutenhofer,
Dealer in
M alcolm Ca m p b e l l , M ember of N. V. Stock E xch.
&
BANKERS,
c
B A NK ERS AND BROKERS,
No. 96 B R O A D W A Y , N E W
o
. ,
57 Broadway, opp. Exchange Place, N. Y.
Brunch ONce, 341 L a Salle St., Chicago.
YORK
(M embers New Y ork Stock Exchange.)
A ccounts o f B anks, B ankers and oth ers received
In te re st allowed on balances. A stric tly Commission
Business in th e purchase a nd sale of stooks and bonds.
P riv a te T elegraph W ire to A lbany .Troy. Syracuse,
Rochester, U tica, Buffalo. Cleveland and Chloago.
Draw on City B ank o f London In am ounts to su it.
Special a tte n tio n given to Securities fo r In v estm en t.
C. J. Turner 6c Son,
TRANSACT A G EN ERA L BANKING BUSINESS.
INCLUDING T H E PU R C H A SE AND SA LE OF
STOCKS AND BONDS FO R CASH OR ON M AR
GIN. BUY AND SELL INVESTM ENT SECURI (16 Y ears’ M em bership in th e N.Y. Stock Exchange)
TIES. IN T ER EST A LLOW ED ON DEPOSITS
B A N K E R AND B R O K E R .
SUBJECT TO CHECK A T SIG E T .
P . O. Box 447.
1 6 & 18 B R O A D S T R E E T , N E W Y O R K .
D. A . BOODY.
C. W . MCLBLLAN.
R e u b e n L jsland .
W m . F . L e s s l ie .
T ran sact a g en eral.b a n k in g business, including
H e n r y T. B o o d y .
th e p urchase and sale of stocks a n d bonds f o r cash
or on m argin.
W
a lU
A
e iS a
BANKERS,
U N IT E D R A N K B U IL D IN G ,
W a l l Street, co rn er B r o a d w a y .
STOOKS, BON DS <6 COM MERCIAL P A P E R .
Stocks a n d bonds bou g h t and sold on commission
a t New Y ork Stock Exchange. A dvances m ade on
business paper a nd o th e r securities.
Douglas 6c Jones,
7 3 B ro a d w a y ,
1 3 N ew S tr e e t
(M embers of
e N.Y. Stock Exchange.)
B uy and sell Stoc
a nd Bonds fo r cash o r on
m argin. In te re s t all wed on deposits. C orrespond
ence solicited.
JO H N F. DOUGLAS,
Of th e la te firm of Lawson, Douglas & Co.
W ILLA RD 11. JONES,
L a te of W.S. Lawson & Co.. M ember N.Y.1Stòck E xch
THE CHRONICLE.
ir
O x u st W om pK uU s.
[Y ol. XL VI.
IPtwtipcial.
g xu & t (ß a m p n u U s.
Brooklyn Trust Co.,
Union Trust Company The
Cor. o f M ontague a nd Clinton Sts.,Brooklyn, N.Y.
OF N E W ¥ O B K ,
78 Broadway, cor. S ecto r St., N. Y.
SdSKSfe-: : : : : :
ti;?88;888
A uthorized to a c t a« E x ecu to r, A d m in istrato r
G uardian, Receiver, o r T ru stee, and is
A LE G A L DEPOSITO R Y FO R MONEY.
A ccepts th e tra n s fe r agency and r^ sJ ^
.^poks,
and acts as T ru stee o f m ortgages o f corP °rations.
Allows in te re s t on deposits, w hich m ay be m ade a t
a n y tim e , and w ithdraw n on flue days notice, w ith
in te re s t fo r th e whole tim e th e y rem ain w ith th e
#<F o r the* convenience o f depositors t*ds.®o™£WY
also opens c u rre n t accounts su b ject, to,*®°?2$25i2
with its rules, to check a t sight, and s a o w in te re s t
upon th e resu ltin g daily balances. Such checks pass
ghrough th e Clearing H ouse.
TR U STEES: •
Wm. W hitew right.
Jam es M. M cLean,
A m brose C. K ingsland,
H e n ry A . Kent,!
Jam es H . Ogilvie,
R .T . W ilson,
8. T. Fairchild.
W m . F . Russell,
I. H . Frothingham ,
G. D. W ood,
George A . Jarv is,
Jam es N . P la tt,
C. V anderbilt,
D. C. H ays,
A . A . Low.
W m. A lex. Duer,
G. G. Williams,
Charles H . L eland,
R. G. Rem sen.
Edw ard King,
Edw ard Schell,
E . B. W esley,
A m asa J . P a rk e r
B. H . MnAipin,
Sam uel F . B arger,
George B. C arh art,
Geo.
agoun.
n . Depew,
iw iw w ,
w
TOw. C.
V/. “M“i"
«
Chauncey M.
H V an R ennselaer K ennedy.
EX E C U T IV E COMMITTEE :
W m. W hitew right,
G. G. W illiam s,
Jam es M cLean,
E . B. W esley,
Geo. C. M agoun,
C. D .W ood,
D, C. H ays,
A . C. Kingsland.
ED W A R D KING. P resid en t,
JA M ES M, M cLEAN, F irs t V ice-Pres’t,
JA M ES H . O G ILV IE, Second V ice-Pres’t.
A. O ' RONALDSON, Secretary.
A . W . K EL LE Y , A ssistan t Secretary.
United States Trust Co.
C A P I T A L (all in U . S. Bonds) - $ 1 , 0 0 0 , 0 0 0
This com pany is authorized by special c h arte r to
a c t as receiver, tru ste e , guardian, ex ecu to r or adm in
istra to r.
. ,
•
. ,
I t can a c t as a g en t in th e sale or m anagem ent of
real estate, collect in te re s t or dividends, receive re
gistry and tra n s fe r books, or m ake purchase a nd sale
o f G overnm ent a nd o th er securities.
Religious a nd c h aritable institu tio n s, a nd persons
unaccustom ed to th e tra n sac tio n of business, will
And th is Company a safe and convenient depository
fo r m oney, R IP L E Ÿ ROPES, P resident.
EDM UND W .C O R LIES, V ice-Pres’t.
TRUSTEES.
J o slab O. Low, E . F . K now lton, H ’y K . Sheldon,
A lex. M. W hite, Jo h n T. M artin, C. D . W ood,
A . A. Low,
F red. Cromwell, W m .H . Male,
A lev . McCue,
Jo h n P . R olfe,
Ripley Ropes,
M ich’1Chauncey, E. W . Corlies.
A bram B .B aylis,
W m . B. K e n d all.lH .E .P ie rre p o n t, H . W , Maxwell,
.tam es R o ss Cu r r a n , Secretary.
F rederick C. Cot,win. Asst. Sec’y.
T H E
Provident Life &Trust Co
OF
P H IL A D E L P H IA .
Incorporated T hird M o.,22d, 1865.
(C H A RTER P E R P E T U A L .)
C A P I T A L .............................$1,000,000
A S S E T S , $ 2 0 ,1 1 5 ,0 2 3 4 9 .
IN SU R ES LIV ES, GRANTS A N N U ITIES, R E
CEIVES MONEY ON DEPOSIT, re tu rn a b le on de
m and. or on which in te re s t is allowed, and is empow
ered jay law to a c t as EXECUTOR, A DM INISTRA
TOR, TR U ST EE , GUARDIAN, ASSIGNEE, COM
M ITT EE , R EC EIV E R , AGENT, etc., fo r th e fa ith
fu l perform ance of which its capital and surplus
fund fu rn ish am ple security.
All tr u s t funds and investm ents are k e p t sep arate
and a p a rt from th e assets of th e company.
T h e incom e of p arties residing abroad carefully
eollected and duly rem itted.
SAM’L R . SH IP L E Y , P resident.
T . W IST A R BROWN, V ice-President.
ASA S. W IN G . V ice-President and A ctuary
OF N E W YORK,
N o. 49 W A L L S T R E E T .
Capital and Surplus,
- - $7,000,000
•This company is a legal depository fo r m oneys
paid in to court, and is authorized to a c t as guardian
o r tru ste e ^ RBgT A L L 0W B D ON DEPOSITS,
w hich m a y b e m ade a t any tim e and w ithdraw n
a fte r five days’ notice, and will be e n title d to in te r
e s t fo r th e whole tim e th e y m ay rem ain w ith th e
com pany.
,
.
, ,
E xecutors, ad m in istrato rs, o r tru ste e s o f estates,
a n d fem ales unaccustom ed to th e tran sactio n of
b usiness, as well as religious and ben ev o len t in stitu ti ons, w ill find th is company a convenient deposit
o ry fo r money.
JO H N A. STEW A RT, P resid en t,
GEORGE BLISS, V ice-President,
JA M ES S. CLARK, Second V ice-P res’t
TRUSTEES:
W ilson G. H u n t, H . E . Law rence, W illiam Libbey,
Clinton G ilbert, Isaac N. Phelps, Jo h n C. Brown,
D aniel D . Lord, E rastu s Corning, E dw ard Cooper,
Sam uel Sloan,
8. B. C h itten d en , W .Bay’rdC utting
Jam es Low,
Jo h n H .R h o ad es, Chas.B. Smith,
W m. W . Phelps, A nson P . Stokes, W m .R ockefeller,
D . W illis Jam es, R obt.B .M inturn, A lex. E . Orr,
Jo h n J .A s to r,
Geo. H . W arren, W m .H .M acy, ir.
J o h n A . Stew art, George Bliss,
H E N R Y L . T H O R N E L L , S ecretary.
LO U IS G. H A M PTO N . A ssista n t S ecretary.
FOB SALE:
S E C O N D -H A N D
Railway Equipment
W e offer the above at low prices lor cash
or on easy terms or Car Trust) or will
exchange lor good securities. Whether
you wish to buy, sell, or trade, it w ill pay
you to write us lor lull particulars,
118 BBOADWAY, NEW YOBK.
C apital, F u lly P a id , - - - - $1,000,000
H IS COMPANY TRANSACTS A G EN ERA L
LOAN, TR U ST & FIN A N C IA L BUSINESS.
R eceives m oney on D eposit, su b jec t to check, a n d
allows in te re s t on balances.
All Checks pass th ro u g h th e C learing H ouse.
M akes In v e stm e n ts o f M oney, a cts as E x ecutor,
A d m in istrato r, G uardian, T ru ste e , etc.
Also, as R eg istrar an d T ra n sfe r A gent.
A n auth o rized D epository fo r C ourt a n d County
T re a s u re rs ’ Funds.
ROW LAND N. H A ZA R D . P resid e n t.
GEORGE S. H A R T , V ice-President.
JA M ES S. THU RSTON , Secretary.
D ir e c t o r s :
W allace C. A ndrew s,
Jo h n L. M acaulay,
J o h n D. K immey,
J o h n I. B lair,
Jo h n Ross,
E d w ard R" Brow ning,
A lex an d er G. Black,
R ow land N. H azard,
E lias C. B enedict,
G eorge S. H a rt,
W illiam P . A nderson,
W m .B . D ins nsore,
Jam e s 8. T h u rsto n ,
P e te r Wyckoff,
G eorge A. Evans,
T hom as L. W atson ,
C harles P arso n s.
Ju le s Aldige,
H aw es.
G ranville
10 W A L L S T R E E T , N E W Y O R K ,
J a m b s Ir v in e , P r e s t .
M il l s B u h j h n g , 3 5 W a l l S t ., N e w Y o r k .
P A ID -U P C A P IT A L , - -
$1,000,000
D esignated as a legal depository by o rd er of
Suprem e C ourt. R eceive deposits o f m oney on
In terest, a c t as fiscal o r tra n s fe r agent, o r tru ste e
fo r corporations, a n d accep t and ex ec u te any legal
ru sts from persons o r corporations, on as favorable
te rm s as o th er sim ilar companies.
THOMAS H IL L H O U 8E , P resid en t.
FR ED ERIC D. T A P PE N , V ice-President.
CH ARLES M. JE S U P .'S ecretary ,
__
L . V. Wa i k l b y Sec’y
S IX PEB CENT
SECURITIES,
Laud Debentures, Guaranteed Farm anil
City mortgages, and School Bonds-
NEW ENGLAND LOAN & TRUSlfc CO.,
160 Broadway, New York.
fJ H E INVESTORS
AGENCY.
(M. L. SCUDDER, J k ., PR O P R IE T O R ,
240 LA SA LLE ST., CHICAGO. IL L.
Reports Concerning Affairs of Corporations
RAILROADS ESPECIALLY.
Large L ihrary Railroad D ocum ents,
C om petent E xperts
Confidential R eports,
M oderate Charges.
$end fo r circular.
WM. C. NOYES,
B R O A D W A Y ,
D EA L ER IN A LL
N e w Y o rk a n d B r o o k ly n
T R U S T C O M P A N IE S ’ S T O C & S .
ALSO,
All th e Stocks G u aran teed by th e
D E L A W A R E LACKAW ANNA & W E ST .
AND THE
LAKE
S H O R E & M IC H . S O U T H E R N
R A I L R O A D C O M P A N I E S .:
TRU ST
0 0 .,
K A N S A S C IT Y , H O .
C A P IT A L P A ID U P ,
SU RPLUS, - - - - - R e s e rv e L ia b ility
T o ta l
-
$ 1 ,0 0 0 ,0 0 0
1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0
$ * ,1 0 0 ,0 0 0
This Company offers for sale at par and
accrued in terest its
S IX P E R C E N T D E B E N T U R E S ,
payable half-yearly at th e office of THE MER
CANTILE TRUST CO., NEW YORK. These
Debentures ran for Ten years, b at w ith th e
option of redemption at the end of F iv e years
They are direct obligations of the Company
and are further secured by an equal am ount of
Real E state Mortgages on improved and pro
ductive R eal E state worth from three to five
times the amount of the m ortgages, held b y THE
MERCANTILE TRUST CO., w hich under special
A rticles of Agreement acts as Trustee for th e
holders of the Debentures. They are Issued in
denominations of $500, $1,000 and $5,000
These Debentures are a very desirable class
of investm ents for E states and Trust Fundsand for individuals and corporations desiring
an exceedingly safe investm ent, w ith a com,
paratively high rate of interest.
M o r t g a g e s o u R e a l Estate in K ansas City,
and improved farms in K ansas and Missouri,
at n ot to exceed 40 per cent of the value, are
also offered investors.
Write for further information and references
to any one of the com pany’s offices at
K A N S A S C I T Y M O.,
N E W Y O R K , 239 Broadway;
L O N D O N , E N G L A N D , 95 Gresham Street.
20 N a s s a u S t „ N e w Y o r k , M arch 8,1888,
Chesapeake & Ohio
Railway Co’s
(Successors to W A LK LEY & CO.),
96
Metropolitan Trust Co.,
M ORTGAGE
THE NEW YOBK EQUIPMENT C0-,
INCOME
American Loan & Trust Co.,
JA R V IS -O O N K L IN
S ecurity h olders a re h e re b y inform ed by th e under*
signed—a com m ittee rep resen tin g in te re sts n o t in
accord w ith th e published syndicate p lan of re o r
g anization of th e C H E SA PE A K E & OHIO—th a t I t
w ill be to th e ir a d v an tag e to aw ait th e proposed
plan o f opposition a b o u t to be su bm itted before
depositing securities w ith th e syndicate.
T he C entral T ru s t Company will a c t as depositary
fo r secu rity holders, to w hom n otice w ill be pub
lished w hen secu rities a re req u ired to be deposited.
W IL L IA M S T R A U S S ,
C H A R L E S G U ID E T ,
W IL L IA M H . YOUNG,
C. W . B R A N C H ,
R ichm ond, Va.,
___ _______ „ _______ C o m m itte e .
Q 'ty , L O U I S A L T O # & T E R Ü Ë H A U T E
K ¿A 1 L R 0 A D COMPANY, 3$ RÀÊSAV STREET;
N e w Y o r k , M àtèh 9; 1888.
To th e P re fe rre d Stockholders of th e ftfit LOUIS
ALTON & T E R R E H A U T E R A ILRO A D CO..
A D IV ID EN D OF ONE AND ONE-QUARTER
(1H) P E R CENT has b een declared by th é D irectors
o f th is Company, payable A pril 10th, proxim o, to
p re fe rred stockholders o f record M arch 26th.
T he tra n s fe r books o f th e P re fe rre d Stock will
Close M arch 26th a t 3 P . M. a nd reopen A pril 11th a t
10 A. M.
W . BAYARD CUTTING, P resid e n t.
/CHICAGO <fc N O R TH W E STE R N R A IL \ j
W AY CO., 58 W a l l St r e e t ,
N e w Y o r k , M arch 6,1888.
A q uarterly dividend of ONE AND T H R E E Q U A RTERS P E R CENT on th e p re fe rred stock
of th is company will be paid a t th is office on M on
day, M arch 26.
T ran sfe r books will close on M onday, M arch 12,
a nd re-open W ednesday, M arch 28.
______________________ M. L. SYKES. T reasu rer.
N O T IC E :
T h e UNION STOCK YARD N A TIO N A L BANK
of Chicago, lo cated in th e Tow n of Lake, in th e
S ta te of Illinois, is closing up its affairs, its corpor
a te existence having expired a t close o f business
on th e 29th day o f F ebruary, 1888.
A ll n o te-h o ld ers a nd others, cre d ito rs o f said
A ssociation, a re th e re fo re hereb y notified to p re
s e n t th e n o te s a nd o th e r claim s' ag ain st th e A ssoci
a tio n fo r paym ent.
ELM ER W ASHBURN,- P resid e n t,
D a ted 29th F eb ru ary , 1888.
THE CHRONICLE.
March 1 0 ,1888.J
Itfitxatixial.
fp tx a ttjc ia l.
TO
W abash R e o rg a n iza tio n .
SECOND MORTGAGE INCOME BOND
Lines East of the Mississippi River.
HOLDERS OF THE
Georgia Pacific R ’y Co.
T he undersigned, owning and rep resen t m g m ore
th a n a m ajority o f th e second m ortgage incom e
bonds of th e Georgia Pacific Railw ay Co., an d a t t be
req u est o f o th er large holder», in o rd er t h a t we m ay
be assured o f some reg u lar fixed incom e fro m our
investm en t, have arran g ed w ith th e com pany th e
following settlem en t, provided th e holders p i a t
least $4,600,000 of th e bonds an d certificates signify
th e ir acceptance of th e te rm s p-oposed by th e 1st
day of A pril, 1888:
,
, .
F o r 50 p er c en t o f th e princ pal a n d past-d u e in
te re st, up to an d including th e 1st day o f A pril n e x t,
of th e now o u tstan d in g incom e bonds, th e re wul be
given new 5 p er c en t fixed m ortgage bonds, subject
only to th e first m ortgage o f $10,000 p e r m ile, th e
first coupons on which will be payable 1st O ctober.
1888, a n d th e issue o f w hich will be lim ited to $9,000
p er mile.
F or th e rem aining 50 p er c en t o f principal and in
te re st th e re will be given 5 p er c en t incom e bonds,
issue lim ited to $9,000 p e r m ile of com pleted road,
th e paym ent of in te re st'o n w hich m ay reasonably be
expected in th e n e a r fu tu re .
L ists fo r signatures m ay be found a t th e office of
th e undersigned, o r th o se p referrin g i t m ay deposit
th e ir bonds an d in te re s t certificates w ith th e Cen
tra l T ru st Company o f New York, fo r which nego
tia b le receip ts will be given.
W e earn estly recom m end th e p ro m p t acceptance
of th e proposal by all bondholders.
JO S E P H BRYAN,
R ichm ond, Ya.
JO H N A. R U T H E R FU R D , .
(Myers, R u th e rfu rd & Co.).
58 W all S treet, N. Y.
JO H N C. M ABEN,
.
24 B road S treet, N. Y.
N e w Y o r k , M arch 5, 1888.
F IR S T M O R TG A G E
S IX
PER
CENT
BONDS
OP THE
Kansas City Water Co.
DUE 1 9 0 7 . P A Y A B L E A F T E R 1 8 9 4 .
Interest May 1 and November 1.
C EN TRAL. T R U S T CO M PANY OF N EW
Y O R K T R U ST EE S.
T he w orks h av e cost over $ 1 ,0 0 0 ,0 0 0 , a n d th e
com pany supplies w ith w a ter th e m e tro p o litan dis
tric t of KANSAS CITY, M ISSOURI a n d KANSAS,
containing a popu latio n of over 3 0 0 ,0 0 0 . A first
m ortgag e for $ 9 0 0 ,0 0 0 h a s been placed upon th e
pro p erty , re a l e sta te , fran ch ises a n d privileges of
th e com pany,and $ 5 0 0 ,0 0 0 a re offered fo r sale, th e
b alance b ein g re se rv e d fo r fu tu re needs. T h e works
a re o p erated by th e N A TIO N A L W A T E R W ORKS
COMPANY, u n d e r a c o n tra c t providing t h a t th e n e t
rev e n u e p er y ear shall n o t b e less th a n $ 5 4 ,0 0 0 , a
sum equal to th e in te re s t upon th is e n tire loan.
Price, P a r and Accrued Interest,
Subject to ad v an ce w ith o u t notice.
T A IW T O R & H O L T ,
No. 11 W A LL ST R E ET ,
. . ____________________ , Corner o f New S treet.
N O T IC E .
T h e new Second M ortgage Bonds, Scrip a n d Stock
Of th e W ESTER N N EW YORK & PENNSYL
V A N IA RA ILR O A D COMPANY, to b e issued in
exchan g e fo r certificates o f secu rities deposited
u n d e r th e p lan o f reo rg an izatio n o f th e B U FFA LO
N EW YORK & P H IL A D E L P H IA R A ILRO A D
'COM PANY, w ill b e re a d y fo r delivery on SAT URDAY, M ARCH 3.
H olders o f th e above certificates a re re q u e ste d to
p re se n t th e m a s early as possible to th e deposi
to ries by w hom th e y w ere resp ectiv ely issued, viz.:
T H E BANK OF N EW YORK, N. B. A.,
48 W all S treet, New Y ork, or
T H E F ID E L IT Y IN SURANCE, TR U ST & SA FE
D EPO SIT COMPANY,
325-331 C h estn u t S treet, P h ilad elp h ia,
as th is will g re a tly fa c ilita te th e delivery o f th e new
securities,
By ord er o f th e C om m ittee,
A. M ARCUS, Secretary.
NEW YORK, Feb. 25,1888.
< & K n n n n F IR S T MORTGAGE R A IL -
<tJ)DU,UUU
ROAD BONDS, d efau lted , w ith
unp aid coupons, o f ru n n in g road; whole recoverable
by su it h e re . F o r sale. V ery low price. Room 3,
110 P e a rl S treet.
▼
23 WALL St ., N ew York , Teb. 17,1888,
R E O R G A N IZ A T IO N
OF T H E
B ondholders who h av e n o t a lread y a sse n ted to
th e p lan of reorganization of Nov. 21, 18S7, a re
h ereb y notified t h a t upon th e deposit of th e ir
In accordance w ith th e .term s o f th e reorganiza
bonds w ith th e C entral T ru st Company of New
Y ork, u n d e r th e te rm s of said plan, th e y w ill r e tio n agreem ent, holders of
ceive IN C A S H fo r p a st d ue coupons a n d in te re s t
i
th e re o n to Nov. 1, 1887, on each bond of $1,000, as Series “B” Bonds,
OF T H E
fo llo w s:
Currency Bonds,
C H E SA
Toledo & Illinois, 1st M o rtg a g e ....................... $127 22
L ake E rie W abash & St. Louis, 1st M ortgage 127 22 Deferred Interest Scrip,
PEAK E &
G re a t W este rn of Illinois, 1st M ortgage....... 127 22
OHIO
D e ca tu r & E a s t St. Louis, 1st M o rtg a g e ....... 127 22 F irst Preferred Stock,
R A IL W A Y .
Illinois & So u thern Iow a, 1st M ortgage......... 109 05
Second Preferred Stock,
Quincy & Toledo, 1st M o rtg a g e ....................... 108 15
C O M PA N Y .
H a n n ib al & N aples, 1st M o rtg a g e .......... ....... 189 94 Common Stock,
Chicago Division, 1st M ortgage....................... 85 41
—an d en g rav ed certificates fo r $1,000 bearin g 5 per are requested to deposit th e ir securities a t once
c en t in te re s t from Nov. 1,1887, w hich w ill be ex w ith D R EX EL, MORGAN & CO., 23 W all Street,
changeable fo r th e new F irst M ortgage B onds w hen New York, who w ill issue negotiable receipts th e re
for, an d fro m w hom copies o f th e reorganization
issued.
F o r each $1,000 Bond deposited th e re w ill be agreem ent and all o th e r in fo rm a tio n m ay be ob
issued, re p re sen tin g th e principal an d accrued tain ed .
D ue notice w ill be given by th e R eorganization
in te re s t fo r
Com m ittee when a nd as th e assessm ents on stock
D e tro it Division, 1st M ortgage, E ngraved
C ertificates f o r ................ ............................... $1,253 10 specified in th e plan are req u ired to be paid.
T he rig h t is reserved to te rm in a te th e privilege of
C onsolidated M ortgage of 1867, E ngraved
C ertificates f o r . . . . . .......................................
1,21000 depositing securities and p a rticipating in th e reor
ganization, or to fix pen alties u n d e r w hich fu rth e r
Seven p er c en t M ortgage of 1879, E ngraved
C ertificates f o r ............................................
1,21583deposits w ill be received.
Toledo & W abash, 2d M ortgage, E ngraved
D R E X E L , M O R G A N & CO.,
C ertificates f o r.................................................. 1,225 75
W abash & W estern, 2d M ortgage, E ngraved
D epositaries.
C ertificates f o r......................................
1,22575
G re a t W este rn of Illinois, 2d M ortgage,
C. H . COSTER, )
R. J . CROSS,
> C om m ittee.
E n g rav ed C ertificates f o r .................. ......... 1,225 75
A. J . THOM AS, )
T hese certificates also b ear 5 p e r c en t in te re s t
fro m Nov. 1,1887, on th e ir face value.
T h e D e tro it D ivision certificates a re exchange
able a t th e ir face value fo r new F I R S T M O R T
23 W a l l St ., N e w York , Feb. 28,1888.
G AG E B O N D S, w hile fo r th e rem aining certifi
c ates th e principal fo r each $1,000 bond w ill be
TO SERIES “B ” BONDHOLDERS
exchangeable fo r new SECOND M O R T G A G E
B O N D S a n d th e accrued in te re s t th e re o n fo r new
OF THE
F I R S T M O R T G A G E B O N D S, w hen issued.
T h e en g rav ed certificates a re now listed a t th e
New Y ork Stock Exchange.
On all bonds n o t deposited by M arch 15 a pen
In accordance w ith th e provisions of th e plaij of
a lty of T W O P E R CENT on th e p a r value reorganization, M ARCH 15,1888, is hereby fixed as
th e re o f w ill be required.
th e d a te on or b efo re w hich Series “B ” B onds m ust
E n g rav ed certificates fo r th e F U N D E D D E B T be deposited w ith M essrs. D rexel, M organ & Co., in
B O N D S an d S C R I P n o t y e t being ready fo r o rd er to draw in te re s t from N ovem ber 1,1887.
delivery, th e y will be received w ithout penalty
On bonds, deposited a fte r M arch 15,1888, in te re s t
u n til fu rth e r notice.
will accrue only fro m May 1,1888.
P am p h le ts giving details of th e reorganization
D R E X E L , M O R G A N & CO.,
m ay be obtained from th e C entral T ru st Company
54 W all S treet, New Y ork.
D epositaries.
JA M E S F . JO Y ,
1
C. H . COSTER, 3
T. H . HUBBARD,
I Purchasing
B . J . CROSS: ■ VC om m ittee.
A , J . THOM AS,)
E D G A R T . W E L L E S , \ Com m ittee.
O. D . A S H L E Y ,
J
Chesapeake & Ohio R’y Co.
Chesapeake & Ohio R’y Co.
CYRUS J . LAW RENCE, 1
H E N R Y K . M cH A R G ,
j
T H O S . B . A T K IN S ,
f B ondholders’
C om m ittee.
JO H N T . T E R R Y ,
F R E D ’K N . L A W R E N C e J
Mobile & Ohio Railroad Co.
NOTICE.
A m eeting of th e holders of th e several series of
th e P re fe rre d Incom e and Sinking F u n d D eben
N e w Y o r k , M arch 3,1888.
tu re s will b e h eld in conform ity w ith th e te rm s o f
th e D eed of T ru st of M ay 1,187$ a t th e agency of
NOTICE OF SALE OF CITY BONDS. th e Company, No. 11 P in e S treet, in th e city of New
N otice is h ereb y given th a t u n d e r an d by v irtu e of Y ork, on th e 31st day of M arch n e x t a t U A. M.
a n a c t of th e L egislative Assem bly of th e T e rrito ry T he tra n s fe r books w ill close a t 3 P . M. on th e 15th
o f M ontana, e n title d A n A c t to enable c e r ta in ' day of M arch a nd reopen on th e 2d day of A pril,
cities a n d to w ns to in c u r indebtedness, approved
H . TACON, Secretary.
Sept. 14,1887, th e City Of Bozeman, in th e C ounty of
Mobile, F e b ru a ry 27,1888.
G allatin, T e rrito ry of M ontana, will, on th e 31st
day o f M arch, 1888, a t 10 o’clock A. M., a t th e City
H all, in th e said City o f Bozeman, sell a t public
au ctio n to th e h ig h e st bidder fo r cash, a nd a t n o t
less th a n th e ir face value, Tw enty-five Thousand Notice to Holders of the Several Series of
D ollars w o rth of B ozem an City Coupon B onds in
Debentures.
d enom inations of F ive H u n d re d an d One Thousand
H olders a re re q u e ste d to signify th e ir a sse n t to
D ollars each, redeem able in five y e ars an d payable th e p lan of re a d ju stm e n t ad o p te d a t th e m eeting o f
in tw e n ty y ears, bearing in te re s t a t th e r a te o f six th e D ebentures h eld F e b ru a ry 24th inst. D etails
p e r c en t p er annum , payable sem i-annually a t th e of th e p lan an d form s of a ss e n t can be obtained a t
office o f th e City T re a su re r of said city, or in th e th e office o f th e F a rm e rs ’ L oan & T ru st Company,
City o f New Y ork, a t such bank as th e T re a su re r of No. 20 W illiam S tree t, or a t th e office o f th e Rail
th e said C ity of B ozem an m ay designate—both road Company, No. 11 P in e S tree t.
bonds a n d in te re s t th e re o n payable a t th e place
F . D . T A P P E N , I C om m ittee
an d b an k so designated.
R . K. DOW,
of
Sealed bids will be received by th e City T rea su re r
T . W . EVANS, • r D eb en tu re
o f said Bozem an a t any tim e b e fo re th e said d a te of
E. H . BO NNER, I H olders.
sale.
A. H . STEVENS, J
By o rd e r o f th e City Council.
N e w Y o r k , Feb. 27,1888.
D a ted J a n u a ry 21st, 1888.
J . Y. BOGERT, M ayor.
j B. & W . P R E F E R R E D INTER EST.
D. C. Ca m p b e l l , City Clerk.
T h e OHIO IN D IA N A & W ESTER N R A IL W A Y
H E D U L U T H & IR O N R A N G E R A I L COMPANY w ill pay in te re s t accrued J a n u a ry 1,,
ROAD COMPANY.—In te re s t due on A pril 1st, 1888, on th e P re fe rre d Bonds of th e In d ian a Bloom
1888, on th e Coupon a nd R eg istered F irst M ortgage in gton & W este rn R ailw ay Company, w ith in te re s t
F iv e P e r C ent Bonds of th e D u lu th & Iro n R ange to M arch 6, on p re sen ta tio n of th e pro p er coupon
R ailro ad Company w ill be payable a t th e Com- a t th e CORBIN BANK IN G COMPANY, 115 Broadany’s Office, B oom 9, e ighth floor, Mills B uilding, way, New York.
F . W . DÜNTON, T rea su re r.
rew Y ork.
A. J . PA TERSO N , A sst. T reasurer.
Mobile & Ohio Railroad Co.
T
S
THE CHRONICLE.
VI
[V gl, XLVL
Üfitmticial.
J w s m a îL c e .
FO R
FORTY-SECOND ANNUAL STATEMENT
SALE:
Ohio & W est V irginia 1st 7 P e r C ents, 1910.
Columbus & Toledo 1st 7 P e r C ents, 1905.
Beech Creek 1st 4 P e r C ents, 1936.
BU Y AND
OP THE
Connecticut Mutual Life
S E L L .:
Scioto V alley Bonds an d Stock.
T exas Pacific L and G ra n t Scrip, D eposited and
U ndeposited.
New O rleans City Bonds, all issues.
O. W . D O U G H E R T Y ,
M em ber N.Y. Stock Exchange,',
M ILLS BUILD IN G , ROOM D, FIRST FLOOR,
15 B ro o d Street, K. Y.
INSURANCE
COMPANY
"SECOND AYENUE RAILROAD CO.
OF N E W Y O R K C ITY,
$ 5 0 0 ,0 0 0
OF
H ARTFORD,
First Mortgage 5 P. C. Bonds, Due 1909.
Coupons P ayable Ma y l and Nov. 1.
CONN.
.......................... $54,071,189 82
N et A s s e t s January 1 ,1 8 8 7
R e c e iv e d in 1887—
For Prem ium s..................
For Interest and Rents.
Profit and L oss................
$4,422,465 07
2,956,170 10
86,727 13— 7,465,362 30
$61,536,552 12
For Claims by Death and Matured Endow m ents— $3,660,730 09
Surplus returned to Policy-H olders............................... 1 ,1 7 7 ,2 6 1 1 6
Lapsed and Surrendered P olicies
...........................
5 7 6 ,3 1 0 0 6
52 W il l ia m , St „ N e w Y o r k , M arch 7,1888.
Dividend Notice.
T o t a l t o P o l ic y -H o l d e r s .............................. ............................ . $5,414,301 31
688,879 07
304,803 19
--------------------
6,407,983 57
B a l a n c e N e t A sse t s December 31, 1887 ............................................... ............. $55,128,568 55
A D IV ID EN D OF ONE P E R CENT upon th e
C apital Stock of th is Company h a s th is day been
declared, payable a t th e office of M essrs. JO H N
PA TON & CO., 52 W illiam S treet, New Y ork, on th e
SECOND DAY OF A P R IL n e x t to stockholders of
reco rd a t th e close of business h o u rs on th e 8th in s t
T he tra n s fe r books w ill be closed on th e 8th inst.
a nd reopened on th e 3d day of A pril n e x t.
JO H N D E W IT T , JR „ Secretary.
A bbey & Im b rie,
SC H E D U L E O F A SSETS.
Loans upon Real E state, first lien ................................... ......................... ........... ................ $32,844,664 04
Loans upon Siooks and B o n d s...............................................................................................
393,933 00
Premium Notes on P olicies in force.............................................„........................................ 2,102,949 15
Cost of Real E state owned b y the Company....................................................................... 9,790,114 65
Cost o f United States and other B onds............................................................... , ............... 8,790,822 59
Cost o f Bank and Railroad Stocks............................................. .............................. .............
400,851 00
Cash in Banks.......................................................................................... .....................................
788,856 67
Balance due from A g en ts..................................... ......... ...................................... ................
16,377 45
$55,128,568 55
Add—
Interest Due and Accrued...................................
R ents A c c r u e d .............................................. .
Market Value o f Stocks and Bonds over cost.
N et Deferred Premium s.......................................
W . T. H A T C H & SONS,
14 Nassau Street. N.Y.
B L A K E BROS. & CO.,
18 W all St.,N.Y. ¡28 State St.,Boston,Mass.
Keokuk & W estern Rail
road Company,
D I S B U R S E D IN 1 8 8 7 .
Commissions to Agents, Salaries, Medical Exam in
ers’ Fees, Printing, Advertising, Legal, Real
E state and all other expenses...................................
T a x es . . ..................................................................................
CENTRAL TR U ST COMPANY, TR U STEE.
W e offer fo r sale a t 104)4 and accrued Inter
e s t (subject to advance in price), a t w hich ra te they
will pay 4*07 per cent, allow ing fo r loss o f pre
m ium a t m a tu rity .
W e recom m end th e m to investors in general, b u t
especially to holders of th e Consolidated Bonds of
sam e road. May 1,1883, w hich h av e been called in,
payable a t th e C entral T ru st Co. on th e 10th inst.,
w hen in te re s t th e re o n will cease. W ill fu rn ish
fu r th e r p articu lars on application.
$1,025,110 14
10,970 43
391,276 06
87,573 20
---------- ----------
1,514,929 83
G r o ss A sse t s December 3 1 ,1 8 8 7 ............................................................................. $56,643,498 38
L i a b il it ie s —
Am ount required to re-insure all outstanding policies, net, assum
in g 4 per cent Interest....... ..................................................................$50,362,653 00
Additional Reserve by Company’s Standard, 3 p ercen t on Policies
issued since April 1 ,1 8 8 2 ....................................................... ...........
260,692 00
A ll other L iabilities.....................................................................................
794,414 77
--------------------- 51,417,759 77
Surplus b y Company’s S tandard.......................................................................................... $5,225,738 61
S u r p l u s by Connecticut Standard, 4 per cen t................................................................... 5,486,430 61
R atio o f Expenses o f M anagement to Receipts in 1 8 8 7 ................................................. 9*23 per cent.
Policies in force December 3 1 ,1 8 8 7 , 63,483, in su rin g .............................................. . $150,992,498 00
18 VESEY STREET, N E W Y O R K .
FINE FISHING TACKLE.
Send u s 10 cen ts to prepay postage on Catalogue.
Fifth Avenue Hotel,
M a d is o n Square, N E W YO R K .»
T he L argest, B est A ppointed a n d M ost Liberally
M anaged H o te l In th e City, w ith th e M ost Centra
a nd D elightful Location.
HITCHCOCK. D A RLIN G A CO.
Bible Hotel,
AM STERDAM , H OLLAND.
B eautifully situ a ted In th e cen tre of th e city, close
to th e Railw ay S tation a nd th e E xchange. Firstra te cooking. E xcellent wines. M oderate prices.
_______ W . P . W ER K B R , M anager.
M assasoit H o u se,
S P R I N G F I E L D , M ASS.
T H E BEST A PPO IN T E D H O U SE IN W ESTERN
N EW ENGLAND.
„
C onvenient fo r th e to u rist or business m an. N ear
U nion D epot.
w > H . C H A P IN .
■—
— — —
—
Spencer Trask & C o.,
JACOB L. GREENE, President.
B A N K E R S <k BROKERS,
16 and 18 Broad Street, N. Y •
JOHN M. TAYLOR, Vice-President.
WILLIAM G. ABBOT, Secretary.
Albany, N.Y.
Providence, R L
Saratoga.
D. H. WELLS, Actuary,
Transact a General Banking Business«
P H I L I P S. M IL L E R , G eneral Agent,
Special attention given to Investment
Securities.
Direct Private Wires to each office and to
PHILADELPHIA,
BOSTON,
WORCESTER.
1 W ALL
ST R E E T , COR. BR O A D W A Y ,
. NEW YORK CITY.
HUNT'S
MERCHANTS’ MAGAZINE,
D-
S ttfiife ljj
H e ttrjiirs ijJ i* ,
REPRE8BN 1’INH THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES,
VOL. 46
SATURDAY, MARCH 10, 1888.
1887.
$
New Y ork....... 2,213,528,937 2,473,283,771 -10-5 4,734,708,672 5,435,969,881 —18»
Terms o f Subscription—Payable in Advance :
For One Y ear (including p o sta g e)......................... ................ $10 20
F o r Six M onths
do.
...........................................
6 10
European Subscription (including p ostage)......................... 11 28
Annual subscription in London (including p ostage)......... £ 2 7s.
S ix Mos.
do
do
do
. . . . . . £ 1 8s.
These prices include the I n v e s t o r s ’ S u p p l e m e n t , of 1 2 0 p ages
issued once in tw o m onths, and furnished w ithou t extra charge to
subscribers of the C h r o n ic l e .
wttr iiu n r>iwi ( " W I L L I A WI B . D A N A & Co.j P u b lis h e rs ,
?
102 W illi
a m Street, N E W Y O R K .
JOHN O. FLOYD. (
POST OFFICB jgOX 9 53 .
H O USE
R E T U R N S\
Week Ending March 3.
New Y ork.........................
Sales of—
(Stocks ........... shares.)
(C o tto n ........... bales.)
X Q rain... ..... bushels.)
(Petroleum ......... bbls.)
$
552,531,756
1887.
$
698,413,889
1888.
$
-20*9
451,514,278
(865,062) (1,666,500) (-48*1)
(266.900) (+184*3'
;626.300)
(27,863.000) (47.080.800) (-40-8
(40,406,000) (23,198,000) (+7T2)
(666,027)
(433,500)
(21,095,100)
(26,720,000)
330,848,460
19,609.000
6,827.865
4,553,133
3,560,709
8,695.808
4.645,234
2,678,138
812,580,666 +5-8
17,593,100 +11-5
6,752,695 + 1 1
4,398,293 +3-5
8,143,835 +13-3
8,297,218 + 12*1
3,265,633 +42-3
2,153,226 +24-4
696,756,973
43,129,400
16,620,394
10,364,287
8,131,891
8,210,520
9,456,014
5,494,950
676,766,099 +2-9
37,924,600 +13-7
15,906,715 +4-5
10,247,498 -fi*i
7,489,072 48-7
7,887,310 +11*1
7,936,882 +19*1
4,540,009 421*0
Tot. N. Eng.
876,419,247
353,184,666 + 6-6
798,172,919
768,198,185 +3*9
P hiladelphia..
P itts b u r g .......
B altim o re ......
229.347,284
44,576,983
44,762,577
228,055,369 + 0-6
35,638,819 -I-25-1
49,329,190 —9-8
499,678,578
96,499,249
96,902,451
487,463,304 +2*5
77,952,797 +23*8
110,550,086 —12-3
813,023,378 +l*i
188,557,937 +15-3
44,410,600 —8 0
15,879,813 +12*4
13,591,603 23*7
5,722.198 +39*1
12,514,862 - 6*6
6,944,145 +38-4
3,783,913 +48-6
8,932,048 +311
10,452,671 + 20*8
7,092,928 +350
12,729,328 +8-5
1,689,386 +30-8
6,212,702 —53-8
388,014,134 +12*4
693,080,278
675,966,187 + 2 5
451,788,911
88,812,450
35.078.953
35,174,880
17,038.468
24,858,525
19,255,858
11,699,220
24.445,233
26,095,617
19.081.953
29,075,455
5,118,695
6,150,265
400,905,711 +12*7
90,706,950 —2*1
33,319,637 +5*3
28,916,427 +21*7
12,714,843 +34*0
26,037,217 —4*5
15,514,238 +24*1
8,281,902 +41*3
19,355,219 +26*3
23,711,504 +10*1
14,978,124 +27-4
26,276,388 +10*7
3,895,918 +81*4
12,525,527 —50-9
Tot. Middle..
818,686,844
217,428,855
40,856,250
17,284.560
16,816,512
7,961,644
11,694,132
9,261,160
5,632,766
11,709,874
12,622,439
9,573,846
13,935,424
2,209,255
2,872,488
T ot. W e s t...
879,858,605
St. L o u is.........
St. J o s e p h ....
New O rleans..
L ouisville.......
—8-9 K ansas City...
M em phis.........
(-52-2) G alveston.......
(+29-5) N o rfo lk ..........
(—37-3)
-(24*1)
T ot. South...
73,682,245
5,368,921
42,037,542
25,461,351
27,226,422
9,439,479
3,512,475
3,625,768
Week E n d ’g Feb. 25.'
P. Cent.
B o sto n ...........
Provider? 3e...
H a rtfo rd .........
New H a v e n ...
P o rtla n d .........
W o rcester......
S pringfield....
L o w e ll............
C hicago..........
C incinnati......
M ilw aukee....
D e tro it............
Indianapolis...
C lev elan d ......
C olum bus.......
P e o r ia ............
O m aha.............
M inneapolis...
D enver............
St, P a u l...........
G rand Rapids.
W ichita...........
Bank exchanges for the week ending March 3 record a large
increase over the aggregate for the previous week, but this is
m ainly due to the fact that the current figures include a full
week, while for the preceding week only five business days
were embraced. Contrasted with the corresponding we 2k of
1887 the exhibit is the least satisfactory for some time past,
for not only is there a heavy falling off at New York but the
total for all other cities also shows an important decline.
1888.
Two m onths.
February.
tie © lir o w id e .
C LEARIN G
NO. 1,186.
P. Cent
64,016,573
4,200,897
88,027,952
21.569,201
28,740,449
9,657,449
4,117,012
3,456,042
+15*1
+27-8
+10-5
+18 0
-5 -3
—2-3
-14-7
+4*9
793,624,483
717,139,605 +10*7
147,171,690
11.814,801
98.337,011
52,539,053
57,739,614
20,466,463
8.926,275
7,845,573
135,458,095 + 8*6
9,508,747 +22*1
83,593,501 +17*6
43,871,474 +19-8
57,209,504 +0-9
20,465,027 + 0*0
10,497,703 —15*0
7,024,436 +11*7
B o sto n ..............................
P ro v id en c e .......................
H a rtfo rd ...........................
New H a v e n ......................
P o rtla n d ...........................
W o rc este r........................
Springfield...................... .
L ow ell.- ..........................
81,086,704
4.828,000
1,557,695
1,106,187
823,789
«35,164
978.621
628,054
91,498,689
5.324.600
1,779,389
1,194,058
802,159
893,433
804,707
475,174
—11-4
—9 3
—12-5
—7*4
—4*5
+21-6
+82-2
190,354,203 173,785,575 +9-5
367,628,487 + 10*1
404,642,480
68,991,888
—3*7 San Francisco.
63,457,972
101,487,696 +25*0
44,253,621 +43*4
126,831,405
4,172.500 , —0*9
1,553,709
+2-3 ’ T o tal a ll...... 3,542,305,808 3,695,545,145 -4*1 7,551,058,237 8,066,389,991 -6*4
1,035,855
+6'7
762,352
1,328,776,871 1,222,261,374 +8*7 2,816,349,56p 2,630.420,160 +7*1
828,867 +17-5 O utside N. Y .
058.032 +18-7
We give below our compilation covering operations on th e
584,172 +22*4
T o ta l New E n g la n d ...
91,944,214
102,832,209
—10*6
78,887,375
—2 5
P h ilad e lp h ia ....................
P itts b u rg ..........................
B altim o re .........................
53,990,886
11,046,765
12,244,799
72,476,926
«.197.909
14,676,024
—25-5
+20-1
—16-6
51,240.5*7
10,274,919
9,763,896
-6 -7
+26-8
—21*5
T o tal M iddle.................
77,282,450
96,350,859
—19*8
71,279,392
-5*5
C hicago.............................
C incin n ati........................
M ilw aukee.......................
D e tro it............................
In d ia n a p o lis....................
C leveland....................
C olum bus.........................
P e o ria ...............................
O m aha...............................
M inneapolis.....................
D e n v e r..............................
St. P a u l.............................
G ran d R ap id s..................
W ic h ita ...........................
D ulu th *.............................
54,415,400
9,509,400
4,520,797
3.082,948
1,689,676
2,770,526
2.226,274
1.812,768
2,548.870
3,168,707
2,442.417
3,102,858
489.537
701,152
58,909,441
12,012,550
4,979,347
3.658.H23
1,572.561
3,409,031
2,261.590
1,185.726
2,290.895
2,723,284
2,411.486
3.626,512
488,642
1,831,959
—7*6
-20-8
—9*0
+89
+7 5
—18-7
—1-7
+107
+11-3
+16-4
+1-3
—14-4
+0-2
-61-7
49,135,035
8,403,400
3,747.293
3,800.449
1,621,288
2,814,106
1,972,235
1,245.297
2,489.261
2,729,325
2,154,355
2,931,508
503.320
600,020
934,994
240,360
+14*9
—16-8
+16-0
+29-5
+22-4
+7*2
+16-2
+51*5
+253
+259
+26*2
+4*4
+24-0
—60*8
312,294
various New York exchanges since January 1 in the two
years:—
Two months, 1888.
Description. P a r Value
or Quantity
7,071,437
Q,
( Sh’r ’s
Stock | v a l’e $595,284,750
R R. bonds... $58,292,800
Gov’t bonds. $1,207,300
$770,000
S ta te bonds.
$386,850
B ank stocks.
$655,941,700
T otal ...
P e tr’l’m.bbls 289,012,000
4,603,100
C otton.bales
G ra in ...h u sh 197,334,684
T o tal value..
T o ta l W e s te rn .............
92,890,330
101,364,958
—8-4
84,146,942
+10*6
17,227,182
1.208,630
10.871,587
7.003.999
6,507,661
2.669.250
918,382
890,614
17,434,732
1.342.517
7,686,238
5,843,486
7,440,152
2,555.015
1,214,406
775,654
—1-2
—100
+41-4
+199
—12-5
+4-5
—24-4
+14-8
16,730,447
1.111.017
8,920,918
4,622,130
6,109,995
2,434.661
724,391
798,670
T o ta l S o u th e rn ............
47,297,305
44,292,150
+6*8
41,452,238
San F ran cisco.................
16,838,230
15,074,688
4-11*7
13,074,098
878.784,285 1,058,328,748
320,252,529 359,914,859
—170
—9-4
740,354,323
288,840,045
+11*0
+7-3
+15-5 R eturns by Telegraph.
+8-2
—9*8
+2-4
—229 New Y o rk ...................... .
+1*3
Sales o f Stock (shares)....
+6*3 B oston...............................
+19-5 P h ilad elp h ia....................
B altim ore.........................
—4*8 Chicago............................
+2-3 St. L ouis...........................
New O rleans...................
* N ot in clu d ed in to ta ls .
The exhibit for the month of February is less favorable than
that for the opening months of the year, the average daily clear
ings at all points reaching barely $148,000,000, against a little
over $160,000,000 in January. Compared w ith February,
1887 (which included one day less than now), there is a loss in
the whole country of 4*1 per cent.
Two months, 1887,
A ver’ge P a r Value
Price. or Q uantity
A ctual
Value.
Aver’ge
Price.
1388,495,878
$53,752,138
$1,481,595
$441,399
$478,445
15,361,239
65-3 1 $1350,697,350 1786,803,811 58*3
$71,986,149 $62,568,732 86*9
92*2
$1,786,131 122*3
$1,460,000
122-7
$2,013,390 20*0
57-3
$6,931,600
$187,201 118*6
$157,890
123*7
$444,649,455
$262,000,770
$245,504,840
$160,507,089
67-8
$1431,232,989 $853,359,285 59-6
91c.
235,874,000 $157,925,380 66 9-100
3,241,300 $156,052,230 $48-15
$53*33
81 l-8o. 260,791,788 $224,837,989 86MC.
$1392174,884
$1112608,754
Our usual telegraphic returns of exchanges for the five days
have been received and are given below.
S t. L o u is..........................
St. J o se p h .........................
New O rleans....................
L o u isv ille .........................
K ansas C ity......................
M em phis...........................
G alv esto n.........................
N orfo lk .............................
T o tal a ll.........................
O utside New Y o rk ........
A ctual
Value.
T otal, 5 d ays............
E stim ated 1 day - . . . .
T o tal fu ll w e ek ...
B alance Country*........
T o tafw e e k , all..........
Week E n d ’g Ma/r. 3..
Week E nding March 10.
1888.
$
487,792,279
(1,186,470)
63,629,913
44,724,047
9,142,948
45,541,000
15,105,575
10,869,514
1887.
P . Cent.
$
557,173,460 -12-5
(1,525,439) (-22*2)
72,145,324 -11*8
49,769,324 - 1 0 1
10,335,591 <—11*5
-0*1
45,602,000
- 14,949,544 +1-0
8,275,043 +31*4
1888.
P . Cent.
$
453,861,904 —25-0
(692,674) (-49-9)
66,681,199 -13*8
44,132,632 -28*1
10,097,655 —15*6
-8 9
45,329,000
—3-7
13,998,112
+6-7
8,738,196
642,838,758 -21*1
-9 0
133,102,407
676,805,270
140,101,442
758,250,280
147,877,802
-10-7
-5 -3
810,906,718
100,062,489
906,128,088
92,102,878
-9 -8
+8*6
775,941,225
102,992,104
-19-3
+5-9
916,969,207
598,290,966
-8*1
878,933,329
—10*9
F o r th e full week, ta s e d on la s t w eek’s re tu rn s.
THE CHKONICLE.
298
[Vou XL\Ir
caused by purchases to remit for securities sold here for
European account. On the following days the demand
There has been no very material change in the rates for was less urgent and the market was dull and steady.
money the past week, though the tendency continues Commercial bills are of course scarce, as they always are
towards higher figures. Our banks are naturally very at this season of the year, a feature being that documen
conservative; they remember the tight place they fell into tary drafts which are usually at least half a cent per
last autumn, and in face of the Treasury situation they pound lower than prime commercial now command the
are not inclined to run the same risk again. Conse same price. W hat the future course of the market
quently they are free lenders of money on call, but are will be it is difficult to say, for it is possi
doing nothing willingly except for their own customers on ble that foreign money may continue to come
time. For bankers’ balances the extremes this week have here in considerable amounts. If capital, seeking invest
been 2 and 4 per cent, averaging 3 per cent, while banks ment in Europe, should remain as abundant as now, and
and trust companies have loaned and are loaning at 4 per rates of interest in New York should advance, making
cent. Time loans are still freely taken by out-of-town money active here, the transfer of funds from London
institutions and by some individuals who have the money might provide a supply of exchange which would keep
and are satisfied thus to place it; such loans on first-class our gold shipments during the nc xt few months within
collateral (which includes some good mixed securities with small limits. There is no doubt that eve n now consider
ample margin, prime dividend paying properties being able money is beiDg borrowed in Europe in one way and
scarce) command 4£ to 5 per cent according to the security another, and although the speculative inquiry for Ameri
for three, four and five months, and loans on all mixed can stocks is suspended, there is all the time a steady
collateral are quoted at 5 to 5£ percent for the same time. absorption of our best securities by foreign buyers. Of
As already stated, none of the city banks and none of the course if exchange was left to trade influences alone, we
trust companies are offering money on time, while should speedily be exporting gold, our exports of mer
some of. our fire insurance companies are borrowers chandise being small, while our imports are increasing.
February will probably long stand conspicuous among
rather than lenders, many having had to call in loans, in
order to meet recent heavy losses by fires. As to com the months celebrated for small transactions at the Stock
mercial paper it is in fair supply, while the demand is Exchange. We had thought that January could not be
fitful, mostly from out-of-town buyers. The rates are 5 per eclipsed in that particular. When publishing those returns
cent for 60 to 90 day endorsed bills receivable; 5 to 5f we showed that they were less in amount and value than
for four months acceptances and
to 7 per cent for any similar period since our record began. But now we
single names having four to six months to run. We note have the details of another month, aggregating 20 per
that at Boston rates for money and discounts are harden cent less even than January, as may be seen from the fol
ing, and at Chicago the tendency is upwards; but with lowing.
SALES OF STOCKS AT THE NEW YORK STOCK EXCHANGE.
regard to the West it would seem to be difficult to fore
1887.
1888.
cast future needs while the extent and limits of the strike
Values.
Values.
among the railroad engineers are undetermined. The bill Month. Num ber
Num ber
of Shares.
of Shares.
A ctual.
P ar.
Par.
( A ctual.
authorizing the Secretary of the Treasury to use the
$
*
$
$
surplus revenue in the purchase of bonds which, as we J a n — 3,926,117 826,142,550 210,126,645 8,147,127 712,998,400 414,449,389
stated last week, had passed the House, has this week F e b .... 3,145,320 269,142,2001 178.369.233 7,214.112 637,698,950 372,354,481
The comparison with last year affords a strong con
been favorably reported by the Senate Finance Committee.
The measure is looked upon with general favor among trast by which to measure present business. The num
bankers in this city, and the belief that it will speedily ber of shares sold in February, 1888, was 3,145,320;
in January, 1887, the number was 8,147,127, and in
pass the Senate gives much satisfaction.
The event of the week in Europe has been the death of February, 1887, it was 7,214,112. The comparison of
the Emperor William. Its effect on European money values is almost as striking, the total for each of the
centres has been thus far but slight. The Berlin, Ham months of this year being about 50 per cent less than for
burg and Frankfort Bourses were all closed yesterday, but the corresponding period last year. Or if one would con
the Paris and Vienna Bourses were open and reported trast the present figures with tho-e of a really active
dull, but firm; London also was stated to be without month, take December, 1886, when the total shares sold
change. On Wednesday, when the critical condition of the was 12,140,691 having an actual value of $628,877,505.
There is one thought, which these facts suggest, and
Emperor was first announced, there was more of a flurry
which
it is worth while to refer to again. For to under
on the Continent than there has been since. The cable
reports the rate of discount in London for 60 day to 3 stand the foregoing figures and their teaching, they must
be taken in connection with the price fluctuations which
months bank bills I f per cent, being a decline of about
per cent compared with a week ago, and the open market have occurred during the same two months. Such life
rate at Paris has fallen off to 2f per cent, against 2f per cent lessness one would think ought to be accompanied with
last week." At Berlin and Frankfort, however, the last re marked declines in values. Certainly there has been no
ported rates were I f per cent (or an advance of f per cent; lack of effort to bring about such a decline, and
at the former and 2 per cent at the latter. The Bank of yet it is quite remarkable how slight the fluctuations
England gained £259,000 bullion the last week, which we were this year, up to the first of March. Some prop
learn, by a private cable to us, resulted from an import, erties were even higher the close of February than
principally from Egypt, of £257,000, and by a receipt they opened the year, and scarcely any of them
from the interior of Great Britain of £2,000. The Bank were more than one or two points lower. Does
of France lost £109,000 gold and the Bank of Germany not this stubbornness in values show that the
stoppage in public buying is not through a loss of confi
gained nearly £50,000 gold since last report.
Our foreign exchange market was easy early in the dence in stock values, but through other uncertainties—
week under the influence pf a light demand an$ a fair the same which arrested enterprise in the summer. The
supply of bankers’ bills drawn against old negotiations of prices to-day of many good stocks are, we believe, low;
loans; but on Wednesday there was a better inquiry earnings still continue large as a reference to our monthly
T E E F IN A N C IA L SITU A T IO N .
Ma r c h
10, 1888, J
review published to-day so clearly shows; general business
is far from poor, it is in fact active in many departments.
Gan it be that under these circumstances Congress is
going to make a political foot-ball of the surplus question
and* that this great nightmare is to be allowed to hang
over industrial interests another year?
The death of the Emperor William of Germany, as
already stated, has not bad up to this time any apparent
effect upon the markets of the world. His removal, how
ever, is no doubt a matter of grave importance. For over
a generation he has occupied a position of commanding
influence not only in his own country, but the world over.
He has been the exponent of a policy which has raised
Germany to its present greatness and controlled in
a measure the destinies of Europe. A mere change
of rulers—where no change has occurred before in so
many years—would be an event of significance. In this
case the policy which the ruler embodied and the results
that have flowed from that policy, make the circumstance
of more serious moment. Yet the sensational conse.
quences predicted as certain to follow the announcement
of the Emperor’s death, have none of them occurred. As
concerns our own markets, there is no doubt that other
depressing causes were the chief reason for the decline.
Of course, as the Emperor’s death has been an event so
long expected, on account of his advanced age, its effect
may be said to have been in a great measure discounted,
and doubtless the same would be found to be the fact in
case of the decease of the Grown Prince, if tta t should occur.
Nor is it at all certain that the Emperor’s death will make
war any more likely, either through the action of the
youthful Prince William, who in the event of the early
demise of the Grown Prince would soon succeed to the
throne, or through the action of Eussia. As regards the
former contingency, current reports probably do Prince
William injustice. But even if he should be desirous of
covering himself with military glory, it must be remem.
bered that the old Emperor’s counsellors still remain, and
that the Prince highly respects them and is likely to be
governed by their advice, so that a change of policy
is wholly improbable. Furthermore, should this not
prove so, it is still true that the times have changed
and that Germany is an enlightened nation, making it
impossible even for an emperor to exert an all-important
influence upon affairs or enter upon a career of conquest
of his own accord. As regards an attack from Eussia»
recent events have demonstrated how weak that country
is financially, it being unable to negotiate a loan any
where. Besides, it looks a little as if Eussia may have
been acting on the supposition that the time was very
opportune for aggressive demands, the Emperor’s life being
so uncertain and the Crown Prince being stricken with a
malady most likely to prove fatal. The Emperor, naturally
disinclined to engage in war, would be more loth to do
it under such circumstances. Hence, Eussia took
occasion to press her demands, backing them up
with a show of force. Now she will doubtless become
more circumspect. In this view, the prospect may increase
the chances of peace rather than war.
Our statement for the month of February, on another
page, shows that reports of railroad gross earnings still
continue very good. As regards the net, tne returns for
the month of January which have come in this week
require a few words of special explanation, lest the figures
be wrongly interpreted. For instance, on the Central
Iowa we have net of only $182 in January, 1888, against
$15,347 in January, 1887, while the Minneapolis & Sr.
Louis falls $1,375 short of meeting ordinary operating
expenses, though in the same month last year it had
299
THE CHRONICLE.
net of $23,915.
These are minor roads, but
being situated in the section where the railroad
war is going od, it may be supposed that the unfavorable
statements are attributable to that circumstance. In
point of fact the bad weather prevailing during January
was by far the more important influence. W e have
before referred to the interruptions and blockades occa
sioned in this way, so need not dilate upon them now, but
as showing the effects of those influences we may call
attention to the exhibits for the same month of the North
ern Pacific and the Union Pacific. These are roads not
engaged in the railroad war, and yet the latter shows a fall
ing off in net of $81,057, while the Northern Pacific had
net of only $8,466, against $40,721 in 1887, January
always being a bad month with that road. In the case of the
Minneapolis & St. Louis and the Central Iowa there was
a loss in gross as well as net—proportionately much less,
however—but in the case of the Northern Pacific gross
had increased $132,186. so that the reduction in the net
was entirely owing to an augmentation of $164,441 in
expenses, and this in turn must have been largely due to
the cost of removing snow and keeping tracks clear.
The tendency of the stock market this week has been
towards lower prices, though there has not been much activ
ity. This tendency could hardly be otherwise in the face
of the many unfavorable developments which have
occurred. Perhaps the feature of most importance was
the engineers’ strike in the West. The Burlington &
Quincy seems to be getting on well enough, but the
threat of the Brotherhood of Engineers to extend the
strike to all the other systems, and the knowledge
that they have the power to enforce this threat,
opens such a wide possibility of trouble that an
uneasy feeling with regard to the whole matter pre
vailed. Then the rate war in the Northwest has con
tinued. The accounts as to the managers’ meetings have
been rather indefinite, but whatever progress may have
been made towards rt aching a settlement, rates are still
on a war basis. At the same time Europe has been sell
ing some of its speculative holdings of our securities.
Moreover, the question of the disposition of the surplus in
the United States Treasury is still an open one. There
has also been a reduction in the price of anthracite coal as
the result of the resumption of mining in the Schuylkill
region, and this has unsettled the coal properties
somewhat. Finally, operators for a decline have again
become more venturesome, and been making demonstra
tions against the market. On the whole, prices have held
up well against all these adverse influences, showing that
stocks are concentrated in strong hands. Under a ruling
of the Inter-State Commerce Commission, the trunk lines
will now be obliged to post their rates on export business,
the same as on domestic, and this will probably make it
less difficult to maintain this class of rates.
The following statement, made up from returns collected
by us, shows the week’s receipts and shipments of cur
rency and gold by the New York banks.
Week ending
arch , 1888.
Received by . Shipped by
JV. Y . Bank». N . Y . Banks.
N e t Interior
Movement.
11,791,000
«1,822,000
Gain.
«472,000
$1,794,000
$1,322,000
Gain.
$472,000
Gold.........................................................
Total gold a nd legal te n d e rs . .. .
The above shows the actual changes in the bank holdings
of currency and gold caused by this movement to and
from the interior. In addition to that movement the banks
have lost $2,100,000 through the operations of the SubTreasury. Adding that item to the above, we have the
following, which should indicate the total loss to the New
York Clearing House banks of currency and gold for the
week covered by the bank statement to be issued to-day.
THE CHRONICLE
300
I t is always to be remembered, however, that the bank
statement is a statement of averages for the week, whereas
the figures below should reflect the actual change in the
condition of the banks as between Friday of last week
and Friday of this week.
In to Banks. Out o f Banks. N e t Change in
B ank Holdings.
Week ending March, 9,1888.
•Banks’ In te rio r M ovem ent, as above
Sab-T reasury o p eratio n s............
11,794,000
4,7d0,000
$1,329.000
6,8 J0.000
Gain.. 1472.000
Loss.. 2,1 0,000
T otal srold and tesral ten d ers
10.491.000
$3,122.000
IiOsa..il.628 0"fl
The Bank of England gained £259,000 bullion during
the week. This represents £257,000 received from
abroad and £2,000 from the interior of Great Britain.
The Bank of France lost 2,725,000 francs gold and
4,475,000 francs silver, and the Bank of Germany,
since the last report, has gained 1,980,000 marks. The
following table indicates the amount of bullion in the
principal European banks this week, and at the corre
sponding date last year.
March 10.1887.
March 8 . 1888.
Banks o f
F ran c e ............
G e rm a n y ....*
A ust.-H unfr’y
N etherlands..
N at. Belgium*
N ational Italy
Gold.
Silver.
£
23.029.834
44.622,363
22.189.510
6,259.000
4.459.000
2.892.000
0.913.000
£
47.638,588
19.077,490
14.736,000
8.273.000
1,446.000
1,118,000
Gold.
Total.
Silver.
lotal.
£
£
£
£
23,618,975
23,029,834 23.618.975
92,260,956 48.432.591 15,«93,510 94,331,101
41.807,000 19.681,360 17,630,010 37,512,030
20.993.000 0,350,000 13,896 000 20,246,000
12,732,000 4,869.000 8,215,000 13.084,000
4.333,000 2.699,iiOO 1,349,000 4,048,000
814.000 7,809,0)0
8.C91.000 6.995.000
’rt
T o t.th is week 110,421,712 92.889.078 203,313.790 112,845 926 87.803.150 200,649,0 <
T ot.prev.w ’k . 110.129,071 92,88-,279 203,017.350 112.960,805l87.789,240 200,750 045
* The division (between »old and sliver) given in our table of com and
frallion in tlie Bank of Germany and tlie Bank of Belgium Is made fiorn
'th e best estim ate w e are able to obtain; in neither ease is it claimed to be
accurate, as those banks make no distinction in their w eekly rep orts’
m erely reporting the total gold and silver; but w e believe the division
w e make is a close approximation.
N o t e .—We re c e iv e th e a b o v e r e s u lts w e e k ly b y c a b le , a n d w h ile
n o t a ll o f t h e d a te g iv e n a t th e h e a d o f th e c o lu m n , th e y a r e t h e
’r e t u r n s is s u e d n e a r e s t t o t h a t d a te —t h a t is . th e la t e s t r e p o r te d iig u ie s .
1 1The Assay Office paid $151,577 through the SubTreasUTy duriDg the week for domestic bullion, and the
Assistant Treasurer received the following from the Cus'tom House.
Consisting of—
Date.
Duties.
Gold.
Mar. 2 .
4i
3.
i? 5 .
44
6.
■
“
7.
44
8.
$263,909
315,173
537,593
818,357
362,487
441,1)78
71
13
53
48
52
9t
$1 500
1,000
2,000
3,500
2,000
2,500
T otal.
$2,739,500 27
$12.500
TJ. S.
Notes.
Gold
Silver Oet Oertiftc’s. tiitcates.
$30.000
33.000
50 000
86,000
47,000
67,000
$194.000
251.000
436.000
679,000
277,000
323,000
$37,000
31,000
49,000
48.000
35,000
41.ÜO0
$313.000 $2,165,000
$241,000
Included in the above payments were
■coin, chiefly standard dollars.
7,500 in silver
T A X IN G B IL L S OF C A N A D IA N BANKS.
No little excitement has been caused this week among
the banks in the border States on account of an order of
the Commissioner of Internal Revenue, requiring returns
as to the amount of Canadian bank bills paid out by them
■during past years. This inquiry is made for the purpose
of collecting the 10 per cent tax which the law imposes
¡upon all persons, firms and institutions circulating or pay.
ing out notes of corporations other than National bank
motes. It seems that these Canadian bank bills are thus
being used in large amounts, and have always been so
used in the cities and villages near the Canadian line, and
that the enforcement of this order and the collection of
the tax on the transactions of past years would be very
burdensome, and, some of the statements say, “ ruinous’’
to the firms and banks located in that district.
This use of these bills has not been with the intent of
violating the act, but in ignorance of its provisions, and
¡seems to have grown up out of the commercial necessities
-of the neighborhoods where the practice has prevailed.
[VoL. XL\1*
| The custom, as it exists in one section, is well described
*by Mr Norrington, of West Bay City, who states that
“ hundreds of thousands of dollars of this money have
“ been handled in that neighborhood during every year.
u Each fall thousands of men come from Canada to work
“ in the woods. They bring money with them, and it is
u expended in Michigan for c’othing, board and other
“ things. It reaches our banks in the every day channels
“ of trade, and we handle it almost as freely as the
“ money of our own country. W ien the Canadians
“ come out of the woods in the spring they want Cana.
“ dian bills to take back with tbem,” and they have been
given to them without a thought that the law inhibited
the practice. We have no doubt t r at the foregoing de
scribes the situation fairly, and (so far as the past is con.
cerned) if any discretion is left with the Government
officers as to enforcing the provision, it certainly is a proper
occasion for its exercise, since ignorar ce of the law would
of course be no defense. Or if the Internal Revenue
Commissioner cannot ignore the past, it would clearly
*eem to be a case which appeals stiongly to Congress for
relief. There has been no intent to defraud the Govern
ment ; the whole practice has been open and known, so
that the laches of the department would seem to be more
to blame than the action of banks and bankers.
As to the legal question involved, we do not think that
there can be any doubt. The liability for the tax will
have to be admitted. Obviously there is no inhibition
against the Canadians bringing Canadian bank bills into the
United States, nor against our banks or bankers receiving
them on deposit; nor, having so received them, does the
statute prevent their sending the bills to Canada for
redemption. The law is violated and the tax liability
incurred only by paying them out; the reading of the
statute, especially m connection with the history of the
prohibition, seems to make that clear. For there havb
been successive steps by which the Government has sought
to retain to itself and to the National banks the entire
field for the circulation of notes in the United States
The first law bearing on the subject was that of July 17,
1862, which prohibited the issue and circulation of notes
under one dollar by any person or corporation. But in 1863
the National Banking Act was passed, and then for the pur
pose of providing ways and means for the support of the
Government all bank currency was taxed; but Congress
at first discriminated for, instead of against, the circulation
of State banks. It was not until the act of March 3,
1865, when the country had been furnished sufficiently for
business purposes with national bank notes, that this 10
per cent tax was placed on “ the amount of the notes of
“ any State bank or State banking association paid out
“ by them after the first day of July, 1866.” Sub
sequently the form of the provision was changed so as to
make the tax payable by any bank (national as well as
State) and by any person who “ used for circulation and
“ paid out” State bank notes, or “ the notes of any town,
“ city or municipal corporation.” In this form the law is
found in the Revised Statutes, sections 3412 and 3413.
These words, however, would we think hardly cover
Canadian or other foreign bank bills, and were it not that
another law was passed February 8, 1875, making the
provision much broader than it hitherto had been, the
present claim would not hold. This later statute (section
20) states that the tax shall be payable not only on State
bank notes, but also on the “ notes of any person, firm, as.
“ sociation other than a national banking association, or
a of any corporation, State bank or State banking association, or of any town,” &c. These words “ any corpora<<tion” are new in this statute—that is to say, we find
March 10, 18f 8.J
THE CHRONICLE.
them in no previous law on the subject. They are obvi
ously broad enough to take in Canadian bank bills. Be
sides, we must remember that the intent of the tax was to
suppress all circulation except National bank and Govern,
ment notes^ and this successive broadening of the mean
ing by adding new names, as if seeking to cover every
possible issue, only gives expression and emphasis to this
intent.
T H E P E N N S Y L V A N IA BA[LRO AD .
One can never take up a copy of the Pennsylvania Rail,
road if-port without being impressed with tbe magnitude
of the company’s operations and also the success attend
ing them. E ghteen eighty-seven was of course a very
good year for tbe railroads, and particularly so for the
Ekstern trunk lines. It was a year when business was
very active, a circumstance of great importance to the
Pennsylvania especially, for there is no other confedera.
tion of roads in the country which is so thoroughly rep
resentative. Its traffic is so extended and diverse, the lines
embraced in the system cover such a broad territory, while
the position of the road as an avenue of commerce
between tbe West and the East is so important that its
operations pretty accurately record the degree of indus
trial activity which prevails throughout the country.
It is no surprise, in view of such conditions, that the
road is found to have experienced an unusually prosper
ous year, and that the volume of its traffic, which was
large before, is now s 11 larger, and exceeds all previous
records. Taking as a basis of comparison on fiscal
results, the operation* and accounts of what is called the
Pennsylvania Division, meaning the line from Pittsburg
to Philadelphia with branches, for on this the whole
superstructure is imposed, we find some characteristic
items. For instance, the compiny realized an income of
almost 4|? million dollars ($4,488,027) in cash during 1887
on its investments in auxiliary and connecting roads.
This is certainly a large sum, and shows that these invest
ments are proving very profitable. In 1886 the income
from this source was $3,991,629, in 1885 $4,446,434, and
in. 1880 only $2,903,669. The actual cost of the invest
ments up to the close of the late year was $108,709,107,
atfd this represents a total of securities (stocks and bonds)
amounting at their par Value to $142,687,808. The
income of 4£ million dollars for the late year from this
source was made up of no less than 81 different items, of
which only two were really large, namely $871,276
received on the stock of the Philadelphia Wilmington &
Baltimore, and $543,726 received on the stock of the
Northern Central; no other item amounted to as much a3
a quarter of a million dollars, and some Were as small as
fifty dollars and even le33. We cite this merely to show
what a variety of securities the income represents.
As regards the earnings from traffic (still referring to
the operations of the1main stem), the growth is equally
striking. Gross, which had increased from $27,667,406
in 1885 to $31,132,287 in 1886; further increased to $35,3i05,728 in 1887. In the case of the net the improvement
is not so marked, the gain as compared with 1886 being
not quite a million dollars, and as Compared with 1885
about 2£ millions. But the company has been pursuing a
liberal policy as regards expenses. In the monthly figures
this tendency has been very manifest, and we have several
times called attention to it. The detailed figures now sub.
mitted for the year show very clearly.that the heavy ad
ditions to expenses are only in small part attributable to
an enhanced cost of operating, being in the main caused
by heavy outlays for renew als and repairs, to bring the
property up to the highest state of efficiency. Thus, while
301
in 1886 the augmentation in expenses was pretty evenly
distributed among the different heads or subdivisions, in
1887 cut of a total increase of $3,179,286, only $723,578
was in the cost of conducting transportation, while
the cost of maintenance^of way increased $1,381,625»
maintenance of cars $3^1,359, motive power $652,947,
and general expenses $69,777. The increase in mainte
nance of way is almost 40 per cent. But as this follow»
an increase of $567,556 in 1886, that item in two years
has expanded from $2,916,452 to $4,865,633, or over 66
per cent. In addition, however, to the direct charge to
expenses, there is this time another item, designated as
the “ amount expended in extraordinary repairs and im“ provemente, not properly chargeable to capital account,”1
and this item, amounting to $1,241,115, the company
charges against net earnings the same as interest, rentals^
&c., the whole being merely additional evidence of thedesire upon the part of the officials of the road to put thepropsrty in first-class condition in every way.
Tne company did not have any deficiency to meet on
its Western lines-—in fact these show a profit of over
million dollars, though none of it ha3 com3 into the Penn
sylvania’s possession in the shape of dividends— vhil>_
some other items cf charges were also less than in 1886p
hence notwithstanding the heavy outlays for improvements,
and the further fact that the dividend was increased onehalf of one par cent, the company was able to carry for?
ward the sum of $2,365,037 to the credit of profit an #
loss, of which, however, $381,438 was charged off in set
tlement of sundry accounts, leaving roughly a surplusbalance of two million dollars. This surplus would havepaid an additional dividend of nearly 2 par cent, so that
over and aoove all charges of every shape and description
the company earned 7£ per cent on its stock. As already
stated, dividends were increased during the year, the last
semi-annual rate being 3 per cent instead of 2£ par cent
as before. Some of the stockholders and more particu
larly foreign holders, think that the company ought
to have made a larger distribution. We have frequently
shown in these columns why we think that question is far
better left to the discretion of the able management in*
control of the Pennsylvania. Bat really, have the stockholders any reason to complain. In the last eight years
they have received 54^- per cent in cash, equivalent to
-over 6f, per cent per annum, not to speak of the various^
stock allotments which have yielded a considerable sum.'
beside. Thus the return seems to have been liberal. The
company on its part has been able to make these heavy
distributions, besides meeting deficiencies on outside roads'
and various other extra charges, and yet increase tho
credit to profit and loss account from $4;181,074 on Januuary 1, 1880, to $17,608,947 on January 1, 1888.
What has been' said affords an idea of the prosperity
and* strength of the system. To see, however, the?
magnitude of its operations, we must look at the combined?
results on all the lines owned or controlled—not only'
those directly operated east and west of Pittsburg, but
also those indirectly operated, through stock ownership-?
or otherwise. Of course, the statistics' cannot be given
with any great detail, but the report furnishes all the
essentials necessary in this respect—gross and net earn-"
ings and the freight and passenger movement. As regards
the earniDgs, it is only necessary to say that- the total now
reaches over 115£ million dollars, being an increase o f:
nearly 14 million dollars as compared with 1886, and of
over 22^- millions as compared with 1885, and 10 millions
above the highest aggregate previously reached, namely
in 1883. The net amounts to a little over 38f million?
dollars, a gain of 3 f million d o lla rs over 1886, and. o f
TH E CHRONICLE.
302
[Vol. XLVI.
There is another peculiarity that the Omaha road has
almost 7 millions over 1885. As compared with 1883,
the gain in the net is only l-£ millions, though the gross in common with others in that section, namely that the
has increased about 10 millions, as already said. We have closing months of the year make a less favorable showing.
compiled the following, showing the results for five years. Take December, for instance. There is an increase of
about $35,000 in gross for that month, but the total of
A u LINES OWNED OR CONTROLLED EAST AND WEST OF PITTS BÜRO.
the net is less than half that of the same month of the
1883.
1884.
1885.
1886.
1887.
E n tire System o f Roads.
year
preceding, being only $126,683, against $262,830 in
$
$
$
$
$
115,515,506 101,697,981 92,994,549 97,849,875 105,653,532 1886, $224,964 in 1885, and $206,182 in 1884.
Even
O peratin g e x p e n s e s.... 77,338,082 67.102,715 61,690,901 64,434,317 68,917,056
allowing
for
the
fact
that
traffic
rates
were
lower,
and
36,736,476
33,415,558
N e t earn in g s . .......... 38,277,424 34,595,266 81,303,648
that
consequently
the
ratio
of
expenses
to
earnings
When we come to the passenger and freight move
ments which these earnings represent, we have to deal increased, the falliog off in net seems large. It is pos
with figures which seem almost fabulous. Thus the com sible that December, being the closing month of the com
bined roads carried over 68 million passengers and over pany’s fiscal year, various exceptional items and expenses
106 million tons of freight, while the passenger move not properly belonging to that month were charged in the
ment one mile was over 1,382J millions and the freight accounts, in order to make the aggregate correct for the
movement one mile 9,922 million tons. The increase year. It will be noticed from the detailed statement
alone during the year represents marvelous figures, being further below that for November the comparison is much
1,231 million tons in the case of the freight movement more favorable, the total of the net standing at $282,062»
one mile and 153£ millions in the case of the passengers against $315,486 in 1886, and $244,835 in 1885, while
carried one mile. Below we give the totals on the East for the months preceding (back to March) the totals are
ern and Western lines separately, and compare the results all larger than in the previous year, and in some cases the
heaviest on record. But even as regards the most of
for 1887 with those of the four years preceding.
these, the showing as to the net is relatively much less
FREIGHT.
favorable than the gross. Thus for November, though
1883.
1884.
E n tire System
1885.
1886.
1887.
of Roads.
the loss in net is small, as already indicated, yet this loss
B ast o f F itts . &
follows an increase of over $82,000 in gross, and for
B rie 57,379,115 October, though gross increased $123,000, the improve
56,523,890
60,254,173
64,471,950
72,356,095
T o n s m o v ed ..
Tons one m ile 6,415,642,576 5,691,216,707 5,486,165,363 5,114,912,189 5,066,083,175
ment in the net was only $15,000. We cannot think that
W est o f P itts —
26,319,047
25,061,208
26,618,397
32,297,431
33,772,120
Tons m o v ed ..
lower rates and an enhanced cost of operating are
Tons one m ile 3,506,424,458 2,999,627,781 2,883,675,415 2,576,669,303 2,693,140,873
entirely responsible for these wide differences, and hence
81,585,09ij
83,698,162
86,872,570
96,769,381
T o tal to n s ......... 106,128,215
Tons one m ile.. 9,922,067,034 8,690,844,488 8,369,840,778 7,691,581,492 7,759,224,048 should judge that the items of expenses must cover con
PASSENGERS.
siderable amounts spent for betterments and improvements
E n tire System
1884.
1883.
1885.
1886.
1887.
Below we give the results for each month of the last
of Roads.
three
years.
B ast o f P itts . &
B rie 54,733,927
N o. c a rrie d ...
No. one m ile. 1,014,127,707
W e s to f P itts —
13,419,778
No. c a rrie d ...
No. one m ile. 368,645,197
48,115,298
902,432,455
43,280,237
876,839,905
40,133,107
814,827,710
36,534,435
789,134,935
12,350,940
326,793,190
11,474,534
357,549,531
12,189,992
342,588,887
12,262,378
366,774,204
48,846,811
52,323,099
54,754,771
60,466,238
68,153,705
T o t. c a r rie d ....
T o t. one m ile .. 1,382,772,904 1,220,225,645 1,234,389,436 1,157,416,597 1,155,909,139
We regret that the width of our columns does not per
mit us to include the figures for 1882, so as to cover all
the years for which these aggregates have been compiled.
I t may be stated, however, as an interesting fact that as
compared with that year the ratio of increase in freight
has been about the same both on the Eastern and Western
lines—namely, one-third—and this whether we take the
actual number of tons moved or the tonnage one mile.
In the case of the passengers, however, the development
on the Western lines has been very slow, though on the
Eastern lines it has been large and noteworthy.
T H E ST. P A U L & OM AHA'S L A T E YEA R.
In advance of the annual report, we have obtained a
statement of the gross and net earnings of the Chicago
St. Paul Minneapolis & Omaha for the late calendar year
and also other items bearing on the year’s accounts and
operations, which together enable us to indicate what the
annual report will show when that document shall be
published some weeks hence.
Net earnings are larger than in the year preceding, and
yet the improvement over 1886 is only very trifling,
$2,566, whereas gross earnings have increased over threequarters of a million dollars ($787,606). In other words,
such has been the augmentation in expenses that an
increase of $787,606 in gross earnings is attended by an
only nominal increase in net. But in this the St. Paul &
Omaha is merely repeating the experience of other roads
in the same section of the country, like the Burlington &
Quincy and the Chicago & Northwestern.
1885.
1886.
1887.
N et
Gross Op. exNet
Gross Op. exGross Op. ex- N et
penses E m ’gs.
E m ’gs. penses E a m ’gs. E m ’gs. penses E a r n ’gs. Em 'gs.
A ta xes
Sc taxes
& taxes
$
$
371,459 317,696
369,033 304,676
579.735 357,683
540,175 346,038
May.. 582,381 372.482
J u n e , 550,218 380.054
J u l y . 561,035 370,651
A u g . 591.798'408,473
Sept. 701,7681424,013
• O ct.. 775,558 442,881
718,548 436.486
D ec.. 599,165'472,482
J a n ...
F e b ..
M ch.
A pril.
$
53,763
64,357
222,052
194,137
209,899
170,164
190,384
183,325
277,755
832,677
282,062
126,683
t
$
$
%
$
52,937 331,453 300,662
339,521 286,584
395,600 268,009 127,591 307,043 280,545
520,653 285,309 235,344 458,824 299,561
479,187 299,229 179,958 464,892 315,010
458,925 834,465 124,460 478,152 314,509
496,271 347,280 148,991 470,508 812,822
493,34o|s29,330 164,010 472,523 317,071
499,087 864,293 134,794 476,229 311,405
618,411 377,423 240,988 600,905 328,856
652,650 335,347 817,303 699,884 356,112
636,122 820,636 815,486 588,586 343,751
583,500 800,670 262,830 1465,8111240,847
$
80,791
26,498
159,263
149,882
163,643
157,686
155,452
164,824
272,049
343,772
244,835
224,964
T o ta l gross earnings 6,940,873
T otal op.exp.A ta x e s 4,633,615
6,153,267
3,848,575
5,814,810
3,721,151
T o tal n e t earnings 2,307,258
2,304.692
2,093,659
It is worth noting that in many respects the late year is
the best the company has ever had, although the gain in net
has been insignificant. The growth in the gross receipts
is certainly remarkable. Not only is there an increase,
as already stated, of $787,606 over the previous year, but
this follows an increase of $338,457 in 1886, somewhat
smaller increases in the two years preceding, and very
heavy increases in 1883 and 1882. In fact, in no recent
year has the gross failed to record a gain, though the net
has fluctuated more or less. The result is, that the total of
$6,940,873 for 1887 compares with $4,962,202 in 1882,
and only $4,021,961 in 1881. The net, too, shows de
cided growth as compared with these earlier years. Thus
while for 1887 the amount is $2,307,258, in 1882 it was
only $1,721,415, and in 1881 but $1,245,501. It is this
expansion of the earnings that has so far altered the pros
pects of the company that, instead of paying dividends
upon the preferred stock largely out of the proceeds of
land sales, it now pays them wholly out of earnings, with
a considerable surplus to spare.
I t may be supposed, in view of the email increase in
net earnings, that the amount remaining above interest
and charges was less in the late year than in the year pre*
Ceding. In reality, it was somewhat greater, not counting
in this the income from land sales, which fell off. The
reason of course is, that there has been no addition to the
interest charges. The company has constructed about 34
miles of new road, so that the system now comprises 1,399
miles. Some of the new mileage was not operated the
whole year, the average for the twelve months being 1,382
miles, against an average for 1886 of 1,340 miles. But
notwithstanding this addition, and the fact that the com
pany spent altogether $1,147,310 during the year for new
construction and $729,047 for equipment, a total of $1,876,357, the only change in debt is an increase of $490,.
708 in the amount of consolidated bonds outstanding, and
this we believe has occurred since the close of the year
rather than in the year. The company has not disposed
of any of its treasury shares, either common or preferred,
and the only alteration in the capital issued or outstand
ing is a trifling reduction of $33 in the common stock.
None of the other items of the balance sheet are in our
possession, but in answer to the inquiry as to where the
company got the funds for meeting the construction and
equipment expenditures mentioned, it ia to be said that at
the beginning of the year 1887 it held $2,075,146 of
actual cash in its treasury, while from the operations of
the road and the income from land sales it realized for
the twelve months (as we shall presently show) a surplus
of $897,652 above all charges and the dividends paid.
W ith no increase in debt during the year, of course no
important changes have occurred in the interest account,
the payments being $1,337,956, the same as in the twelve
months of 1886. But the credits to interest were only
$39,954, against $73,959, so that the net amount required
was somewhat greater—$1,298,002, against $1,263,997.
On the other hand the requirement for rentals was only
$82,288, against $117,009, and the loss on the proprie
tary road $8,409, against $9,624, making the total charges
$1,388,699, against $1,390,630. Deducting these from
the net earnings above, we have a surplus for the stock o
$918,559 in 1887 and $914,062 in 1886. The 6 per cent
dividend paid on the preferred shares called for the
same amount in the two years ($675,408); hence there was
a large balance in both cases. As regards the land sales,
these yielded a net income of only $654,501 m l887,
while in 1886 the amount was $741,066; the result is, that
with this item included the surplus balance is not quite as
large as it was in 1886, standing, however at $897,652.
Here is a recapitulation of results for the last six years.
1882.
1883.
1884.
1885.
1880.
1,150
1,280
1,339
1,318
1,305
1,399
$
»
$
$
$
$
G ross earn in g s.................. 0,940,873 0,153,207 5,814,810 5,784,932 5,515,285 4,962,202
O perating e x p en se s......... 4,388,341 3,021,135 3,498,062 3,783,547 3,422,941 3,068,313
T a x e s .................................. 245,274 227,440 222,489 223,470 200,880 172,474
T o ta l ex p en ses............. 4,033,616 3,848,575 3,721,151 4,007,023 3,023,827 3,240,787
N e t earn in g s.................. 2,307,258 2,304,092 2,093,059 1,777,909 1,891,458 1,721,416
Charges—
In te re s t on b o n d s ............ 1,337,950 1,337,950 1,334,324 1,320,140 1,222,371 1,134,752
39,954
73,959
33,235 212,221 153,024 120,866
Less c re d its .......................
St. Pawl & Omaha.
303
THE CHRONICLE.
March 10, 1888.]
1887.
MUes Dec. 31....................
N e t in te re s t....................... 1,298,002 1,203,997 1,301,089 1,107,925 1,008,747 1,013,886
47,921
27,730
75,507
90,097 120,033
62,239
R en tals, &e.*............. .
T o tal ch arg es................. 1,388,099 1,390,030 1,370,590 1,170,104 1,116,668 1,041,622
had enough left to pay over 4 per cent on the outstanding
amount of common stock. Even on the operations of the
road alone (without the income from land sales) there
would have been a surplus above 7 per cent dividends on
the preferred shares. To indicate what a great improve
ment this is over the results in earlier years, it is only
necessary to state that in 1881 the operation of the road
yielded but $377,491 towards paying the $672,737 then
required for the preferred stock dividend. In fact there
was a smaller balance in that year on earnings and land
sales combined, than there now is on earnings alone.
L IS T IN G S ON TH E ST O C K EXC H AN G E.
According to a popular theory, the semi-lifeless condi
tion of the New York stock market during the past few
months is largely due to indigestion, brought on by over
feeding with new securities. However we may regard
this theory, the following results of an exhaustive study
of the listings on the New York Stock Exchange in 1887
cannot but be suggestive.
To summarize the results of our investigations, we
would say that in 1887 the Stock Exchange committee
gave permission to 93 companies* to list $343,477,321
bonds and $270,053,550 stock. In 1886 the successful
applicants were 72 in number, and their listed securities
amounted to $238,097,690 bonds and $329,469,350 stockIn 1885 the companies numbered only 48, and their securi
ties listed were $197,259,000 bonds and $56,913,116 stock.
Lest anyone be surprised by the magnitude of these
figures, we hasten to say that, stated in this gross form,
they are misleading. W hat everyone is mainly interested
to know is how many new securities have been listed in
the years named. These gross totals do not show that,
for the figures include also (1) securities issued by reor
ganized companies to replace those of the old companies
retired, (2) bonds issued to take up other bonds matured
or replacing for some other reason securities formerly
outstanding, (3) “ old securities ” already in the hands
of the public, hence calling for no fresh capital outlay.
To determine in every case precisely to which of the
above classes the whole or a part of an issue belongs is
impossible.
Even to make an approximately correct
classification is sometimes difficult. Companies seeking
the favor of the Exchange have not been required, as they
should be, to s^ate definitely for what purposes (refund
ing, new construction, etc.) given amounts of an issue
are intended to be employed. Frequently it is trouble
some__even from the reorganization plans—to ascertain
what amount of the securities of a reorganized company
have been sold for cash and what exchanged for stocks
and bonds of the old companies. Even more difficult is
it at times to draw satisfactorily the line between the “ old”
and « new ’’issues. In our attempt to distinguish the new
issues, we have generally treated as such all which, at
the date of their listing, had been outstanding less than
two years ; and yet here discretion was called for in par ticular cases. With this explanation the approximate
character of the following table will be understood.
LISTINGS ON NEW YORK STOCK EXCHANGE.
B on d s.
New issues.
Replacing
Old issues
new ly listed. old securities.
Total.
1 8 8 7 ................... $180,386,000 $16,304,000 $146,787,321 $343,477,321
47,354,390 109,102,300 238,097,690
81,641,000
18 8 6 ...................
65.715.000 197,259,000
27,700,000
1885
........ 103,844,000
T o tal n e t incom e.......... 1,573,000 1,055,128 1,439,059 1,25S,870 1,322,507 1,220,018
S to c k s.
D ividends.......................... 075,408 075,403 875,408 787,970 770,476 735,397 188 7 ...................
32,643,426 138,683,333 270,053,550
98,726,791
67,236,800 208,226,200 329,469,350
54,006,350
Bur p in s................................ 897,052 979,720 763,051 470,894 552,091 491,221 1 8 8 6
........
56,913,116
35.430.000
3,700,000
* Including loss on proprietary road, which amounted in 1887 to 1 8 8 5 ...................
17,783,116
$8,409.
* Applications by sm all leased lines are in a number of oases here
as applications of the lessee companies. Applications for the
If this surplus of $897,652 had been available for divi taken
listin g of Trust Company receipts, and of securities m arked “ assented”
(if
preparatory
to reorganization), or of securities stam ped “ assumed”
dends, the company could have increased the distribution
or “ assessm ent paid,” the securities them selves having previously been
1
listed,
are
n
ot
inoluded
in this statem ent nor in the table follow ing.
on the preferred stock from 6 to 7 per cent, and yet have
A m o u n t fo r sto c k ............
Cash fro m la n d s...............
918,559
054,501
914,002
741,000
717,003
721,996
607,745
651,125
774,790
547,777
079,793
546,825
304
THE CHRONICLE.
Tiie foregomg indicates iiow materially tile totals first
above given are changed by this analysip, and how they
are thus robbed of much of their apparent importance.
I t discloses that there were listed only $180,386,000 new
bonds (out of a total of $343,477,321) and $98,726,791
new stock (out of a total of $270,053,550) ; and these
compare with $81,641,000 new bonds and $54,006,350
new stock in 1886, and $103,844,000 new bonds and
$17,783,116 new stock in 1885. Even thus reduced,
there is no denying that the aggregates for 1887 are large,
far outstripping those of the two preceding years. Rail'
road companies did nearly, all tbis borrowing, miscel
laneous companies which listed in 1887 numbering but
thirteen (excluding the silver bullion application), and the
securities listed by them being in the gross aggregate only
$8,600,000 bonds and $34,701,800 stock.
The amount of “ securities replacing old issues” listed
in 1887, given in our table at $146,787,321 seems nearly
incredible, till we call to mind what a year 1887 was for
the launching of newly-organized companies. Of course
it must not be understood that the total securities of these
reorganized companies have been put into the above class;
so far as we had reason to believe that they were issued for
cash they appear in the column of new securities; but the
greater portion merely replaced old stocks and bonds.
Only see what a goodly array of reorgan z d companies
1887 covered, and what sums they were allowed by the
Exchange to list: Central of New ¡Jersey, $31,663,000
bonds; New York Chicago & St. Louis, $20,000,000 bonds
and $30,000,000 stock; St. Louis Arkansas & Texas (on
reorganization), $19,058,000 bonds and $9,555,000 stock;
Pittsburg & Western, $9,100,000 bonds and $11,975,000
Block; Kentucky Central, $6,600,000 bonds and $6,600,.
000 stock; Lake Erie & Western, $5,920,000 bonds and
$23,680,000 stock; Beech Creek, $5,000,000 bonds and
$5vOOO,QOO stock; New York & Northern, $4,400,000
bonds and $9,000,000 stock; Omaha & St. Louis, $2,717,000 bonds and $2,220,500 stock; Cincinnati Jackson &
Mackinaw, $1,400,000 bonds and $13,000,000 stock; St.
Louis Southern, $1,075,000 bonds; Buffalo Rochester &
Pittsburg, $12,000,000 stock; Keokuk & Western, $4,000,000 stock. The Louisville New Orleans & Texas Co.,
though not reorganized, listed $ 19,257,OOOjbcnds,exchanged
for old securities. * In 1886 the total of old securities i8
swelled by $20,222,390 bonds and $18,704,300 stock of
the Cincinnati Washington & Baltimore, and $8,128,000
bonds and $33,172,900 stock (except a small part of each
taken as Hnew”) of the Mexican Central; and among the
reorganized companies were the Denver & Rio Grande,
with $22,575,000 bonds and $61,650,000 stock, and the
East Tennessee Virginia & Georgia, with $11,414,000
bonds and $57,000,000 stock; in the total of securities
replacing old issues in that year were also $39,375,000
Mexican Central bonds reduced to 4 per cent, $17,610,000 Atlantic & Pacific 4 per cents given in exchange for
old bonds, and $88,076,200 stock of the Southern Pacific
Company issued against $112,264,350 stock of other com
panies withdrawn from the market. In 1885 West Shore
listed$50,000,000 bonds (only $10,000,000 “ new”), the
Northern Pacific $23,125,000 bonds ($20,000,000 under
2d mortgage), and the Mexican Central $22,671,000 1st
moitgage bonds (part of which is treated as “ old”).
Tnere may be some curiosity to know further what
companies took the chief part in placing loans in 1887.
W e give them arranged according to the amount of bonds
listed; tu t it must not be inferred that the whole amount
given was* in every case treated in our table as a new
issue. St. Paul Minneapolis & Manitoba stands at the
bead with $17,100,000 bonds; Central Pacific is seccncb
[VOL. X L \I .
with $16,260,000 bonds (California & Oregon $4,260,000and bonds of 1936 $12,000,000, of which $5,000,000 to
replace old securities) and $5,391,200 stock. Then follow
Chicago Burlington & Quincy, $12,000,000 bonds; Chicago
Rock Island & Pacific, $10,100,000 bonds; Richmond &
West Point Terminal, $8,500,000 bonds and $16,000,000
stock (the bonds are taken as “ new,” the stock mainly as
“ replacing old securities”—i. e., East Tennessee Virginia
& Georgia, Richmond & Danville, etc., securities); Chicago
& Northwestern, $7,467,000 bonds; Minneapolis Sault
Ste. Marie & Atlantic, $7,400,000 bond3 and $4,852,000
stock; Chicago Milwaukee & St. Paul, $6,223,000 bonds
and $8,776,100 stock; Northern Pacific, $5,974,000 bonds
(including small leased lines) and $4,640,821 extended
dividend scrip; St. Louis & San Francisco, $5,000,000
bonds; Central RR. & Banking Co. of Georgia, $5,000,000
bonds; St. Louis Arkansas & Texas (in addition *o amount
listed on reorganization, as given above), $4,966,000 bonds
and $2,395,000 stcck. The Iilirois Central added $11,
000,000 new stock.
We have also sought to obtain the listings at the Bos*
ton, Baltimore and Philadelphia Exchanges, but with only
partial success. From Baltimore, through the courtesy of
the Secretary of the Exchange, we have a complete
return. There were listed there in 1887 $9,875,500 bonds
and $2,802,900 stock. From Philadelphia we have
received no data, and from Boston only an incomplete set
of applications, which shows $13,141,000 stock listed by
land companies and by a horse railroad. Several railroad
companies, however, Atchison among them, list securities
in Boston, and we may fairly suppose the true total of
listings on that Exchange in 1887 to have been large.
What may we conclude from the foregoing facts ? In
the first place, that the listing of new securities for &.
series of years gives us a fair gauge of the relative stain
of financial enterprise. For instance, every reader wil
observe, even without special attention being called to %
how closely each of the above totals reflects the activities
of the twelve months it covers. One earily gathers from
this three-year record—even if no other source of iafor*
mation were at hand—a pretty correct idea of the rise
and extent of the cycle of prosperity through which we
have been passing. And yet of course these listings are
but a small part of the capital creations for a year. They
give us details as to railroad building, they give a hint of
what must have been the history of allied industries, and.
they suggest concurrent enterprise in other fields of labor;
but we hardly need add that the figures are no measure
of the development in any department except that of
railroads, and therefore no measure of the amount of
floating capital which has taken fixed forms during the
periods covered by our review.
Nor, on the other hand, even in the matter of railroads,
do these totals show the extent to which that industry has
drawn support from American capital. The mistake
recently made by a prominent gentleman in London of
supposing the securities listed here and in London to be
distinct issues, and that the total new issues of American
securities could be approximately ascertained by adding
together those listed on the London and New York
Exchanges, shows a misapprehension of facts. St. P aul
Minneapolis & Manitoba listed here, as we have seen,
$17,100,000 bonds in 1887; the company listed them
also in London. Competent judges believe that the
condition of our foreign trade balance indicates that
we must have in one or another form transferred to
Europe at least 125 millions dollars in securities dur
ing 1887. Good evidence, moreover, of the increased
foreign dealings in our bonds and stocks is seen in the
March
TH E CHRONICLE.
10, 1888.]
aggregate par value of American securities listed on the
.London Exchange now as compared with what it was ten
years ago, the total in July, 1887, being £449,137,835,*
while in July, 1877, it was only £195,964,095.
305
road commission has reduced rates on an average about 30
per cent. Nevertheless, the Jacksonville Tampa & Key
West is able to show an increase over last year for the
month, though the Florida Railway & Navigation reports
a small loss. It should be said with reference to the
decrease on some of the Southwestern lines, like the
Kansas City Springfield & Memphis, that these have been
in a measure affected by the war in the Northwest, which
seems to be extending down into their territory.
With reference to the grain movement in the West,
this was very small last year, so that there has bem some
improvement the present year, but the total falls consid
erably below that of two years ago, Tue gain occurs in
the receipts of corn and oats, but particularly the former.
In the case of wheat, there is a falling off, though on the
other hand flour shows an increase. Altogether the grain
movement may be said to have been rather irregular,
though on the whole larger than in 1887. Some of the
ports have not shared in the increase in corn, while others
have gained decidedly. The following is our usual statement.
F E B R U A R Y GROSS E A R N IN G S.
It is rather surprising that railroad gross earnings keep
up so well. The more conspicuous conditions prevailing
during the month of February were certainly not favor
able. On the contrary, the most of them were decidedly
adverse. And yet we have an increase over the same month
last year of $1,907,837, or nearly 9£ per cent, the increase
in mileage being*about 5£ per cent. Out of the 109 roads
included in our statement, 28 show a loss, but this is con
siderably less than for January.
A t the outset, it is well to state that one fact is in favor
of the present year, and that is the extra day which the
month contained. But this cannot be considered suffi
cient to offset the influences of an opposite character*
Moreover, our weekly compilations of earnings showed a
satisfactory increase all through the previous weeks of the RECEIPTS OF FLOUR AND GRAIN FOR FOUR WEEKS ENDED FEBRUARY 25.
month, where of course the extra day did not count.
Barley,
Oats,
Rye,
Corn,
W heat,
Flour,
(bush.)
(bush.)
(bush.)
(bush.)
(bush.)
Cbbls.)
Thus for ti e first week there was an increase of 10*54
per cent on 73 roads, for the second week an increase 4 Chicago—
86,131
004.074
570,021 3,280.000 2,998.212 1,015.514
wks. Feb., 1888
43,198
603,008
708,179 1,980,90V 2,480,2 5 1,007,071
wks Feb., 1-87
174*525
of 5-38 per cent on 76 roads, for the third week an in 4Since
Ja<i. l, 1888 1,147.500 1,214,487 5.925.018 5,036,378 2.005.004
83,320
Since Ja n . 1,1887 1,067,981 1,701,201 5,284.531 5,110,76s 2,000,476
crease of 8*48 per cent on 76 roads, while for the fourth Milwaukee—
55,626
229.000
318,719
120.880
550,285
174,272
4 wks. Feb., 1888
192,600
251.065
10,620
1 U»,«50
527,987
117 033
week the increaseis 15-35 per cent on 66 roads. Taere was 4 wks. Feb., 1887 3.23,890
104,800
129,906
330.001
610,157
1.005,878
Since Ja n . 1,1888
also a negative influence of a favorable character, namely Since Ja n . 1 ,18s7 253.689 1,834,735 2i.0,e5J 300,000 5.>7,275 20,060
St. Louis—
693,515
279.-20
10,273
134.130 2,320.045
62,397
wks. - eb., 1388
the absence of bad weather. But last year in February 44 wks.
2-2,304
19.804
>22 23«
333,413 1.99 5,4«5
Feb., 1-87
74,871
24,573
425,020
■
3,9
7.-,930
1,37-,"2
824,820
116,154
Since
Ja
n
.
1.1888
though there was some interruption from snow and since J a n . 1,1887 147,982 650,10« 4,030,090 713,535 558,104 49,504
Toledo—
*
storms, the impediment was not general—its effects having 4 wks. Feb., 1888 18,839 157.655
11.412
5,394
97.361.480
192,780
14.054
5,244
17,4-3
209.004
wks. - e ., 1-87
19.31‘7
been confined to a few roads—and earnings were large, 4Since
12.570
31,327
238 291
4,646
289,029
8t,819
Jan. 1,188«
36,001
406,194
14,800
42,-87
465,290
40,395
Since Jan . 1,1887
notwithstanding that circumstance.
Detroit—
72.180
53,614
83.035
160.013
13.990
Feb., 1888
On the other hand, the rate war in the Northwest has 44 wks.
08.82
11 ,088
203,501
128,219
12.80«
wks. Feb., 1887
121,752
139,055
........
129,7«!
380,798
2«.704
Since J n. 1 ,188*
157.721
810,545
2J4,7l9
been increasing in bitterness and virulence, tariff rates Since Jan . 1,1887 28.340 747,550
Cleveland—
22 280
being reduced to very low figures. In the East the strike 4 wks. Feb., 1888 17,548 181,572
110.487
55,245
759
68,000
l'rt.7iO
15.'40
14.953
153.309
4 wks. F e b , 1887
253.745
149.495
«2,2 0
860
334,574
31,273
Ja n . 1,18-8
•of the Reading coal miners continued during a good part Since
101,500
171,20«
3i,027
2»7,100
2S,*57
Since J a n . 1,1887
of the month, and also the strike in the Lehigh regioni Peoria—
134.000
933,400
33.160
43,000 1,012,950
8,847
4 wks. Feb., 1888
37«, 525
13,250
40.8 "0
43-,850
11,700
4.985
wks. Feb., 1887
though our table does not contain many roads affected 4Since
75,450
119.000 2,249,250 1,897.2 «> 2 3.0 i0
14,7*8
Jan . 1,1889cl,o50
36,750
942,85o
109,800
45,200
15,810
Ja n . 1,1887
directly by those circumstances. In the Southern States Since
1nil ut n—
148,472
wks. Feb., 1888
there was a heavy falling off in the cotton movement^ 44 wks.
151.-27
r eb., 1887
484.00 ;
Since Jan . 1,1888
oven after a large falling off the previous years. Tins Since
1,809.233
Ja n . 1,1887
does not apply to the movement overland, though even Total of all—
191,283
900.587 1.948,154 0.919,523 4,954,200 1,8 >5,438
4 wks. Feb., 1888
92,110
718,253 2,358,8« i 4,912.192 3.5 7, 57 1.736,151
wks. Feb., 1«87
that was a 1 ttle below a year ago, the figures showing a 44 wks.
166.168
64«,0«3 1,978.258 9.5-9 475 4.5 )3.i4 2,078, «0
Feb., 1886
417.85»
c e Jan . 1,1-88 1,7(10,0 13 4,153,245 12.-30,548 9.053,422 3,4 9,908
total of 109,315 ba^es for February, 1888, and 112,050 -in
210.434
Since J a n . 1,1887 1,58«, 164 0,570,43" 11,954,500 7.470.023 8,0.-.,8 -8
288,938
J a n . 1, i«86 1,109,0 3 4.014.49 14,1 1.0 4 7,320,. 28 3,93«,40.
bales for February, 1887. In the case of the receipts at Since
Note —Receipts a t M inneapolis doc included in th e aoove ta b le w ere in th e
fo
u
r
weeks
th
is
y
ear
3,325,910
uushels
o
i
w
heat.
the ports, however, the aggregate this year is only 299,090
Tnere appears also to have Oeen a tailing off in some oE
bales, against 345,882 babs last year, and 393,323 bales
the items of the provisions movement at Cmcigo. Thus
•the year before. As the following table will show, there
the receipts of cutmeats were only 12,269 004 pounds
¿are only a few ports that have not suffered heavy lo3ses>
during the month in 1888, against 20,3 j 9,807 pounds in
both as compared with last year and 1886.
1887.
Of live hogs the receipts were 426,036, against
«EOEIPTS OP COTTON AT SOUTHERN PORTS IN FEBRUARY, AN» PROM
JANUARY 1 TO MARCH 1, 1888, 1887 AND 1886._______ '
398,618 last year, but as against 483,294 the year before.
Since Ja n u a ry 1.
February.
Altogether, and taking the country as a whole, it is thus
Porta.
18H8.
1887.
1883.
I860.
1887.
1886.
seen that the adverse factors have overbalanced those of a
95,167
69,: 61
22,339
29.712
40,520
90.131
-Galv e sto n ........ bales..
favorable nature, and hence the gain of $1,907,837 in
873,270 the aggregate earnings of the roads reporting must ba
326,457 427,900
135,641 154,111 166,-: 72
New O rle a n s ...............
09,019
10,491
12.810
22,978
88,957
43,956
M obile...........................
13,085 considered very satisfactory, especially as it follows gains
1,113
2,700
l,3i<
6,447
5,84t>
F l o r i d a ..................
112,729
30,331
40.720
91,701 101,750
52,872
S a v a n n ah ......................
both in 1887 and 1886, as may be seen fiom ihe iollowing
2,882
48«
15,873
1,021
23,03«
3,063
Brunsw ick, &c..........
51.144 summary.
18,648
20,»8l
27,327
48,«8;
47,917
C h a r le s to n ..................
1,645
1.253
P o r t Royal, A c ......... l
6,414
3,075
W ilm in g to n ................
11«
152
W ashington, Ac.......
29,890
N o rfo lk .........................
42,571
38,051
W è st P o in t, &c.......
35,573
T ot » l..
....
2 ^ .0 * • 3 16 832
1,093
5,140’
108
49,770
19,212
2,610
16,479
793
63,8688,500
2,078
15,300
423
100,65
75,170
2,312
12,518
1,116
90,701
43,892
773 85*
920.8«
873.335
Mileage.
Period.
Feb., 1880 (44 roads)
Feb., 1881 (39 roads)
Feb., 1882 (48 roads)
Feb., 1883 (60 roads)
Feb,. 1884 (60 roadsi
eb., 1885 (09 roads)
Feb., 1886 (66 roads)
Feb.,
1887(101 roads)
“*Thom as Skinner, Esq., in a paper r e a l before the In stitu te of Bank
ers, London, Janaary 4 ,1 8 8 8 .
' Feb., 1888 109 rm d s)
In the face of this contraction in the cotton movement^
Southern roads as a rule make remarkably good compari
sons with last year. Some of them, 100, have had other
drawbacks to contend against. Thu« in Florida the rail-
Earnings.
Fear
Given.
Year
Preceding.
Tear
Given.
Miles.
Miles.
28.339
40,393
47,212
42,330
50,846
49,389
55,9)0
01,769
24,212
85,315
43,045
39,174
49,154
48,299
52,980
50.040
$
13,723,573
10,615,589
16,530,371
17,151,802
14.016,99«
10,010.193
16.082,394
20.702 296
22.118.090
P«ar
Preceding.
Increase or
Decrease.
$
11,059,485 In c .
10,182,851 In c .
12,611,817 In c .
16,636,-01 In e .
13,870,239 I n c .
16,268.067 Dec .
1 4,052.151'J n c .
19,025,570 In c .
2i>,2<n.253 In c .
%
2,684,08»
462,71»
3,918,554
514,841
740,760
251,874
1,230,213
1,736,728
1,907 8>-T
306
THE CHRONICLE
GROSS EARNINGS AND MILEAGE IN FEBRUARY.
Gross E arnings.
Nam e o f Road.
A tlantic & P acific__
-Buff. Koch. & P ittsb ..
Burl. Ced. Bap. & N o..
Cairo Vine. & C hic...
California Sou th ern ..
Canadian Pacific __
*Centralof G eorgia..
Central of Iow a ___
Ches. O. & S. W...........
Eliz. L. & B. 8 .........
Chicago & A tla n tic...
Chicago & E ast 111 .
Chic. & Ind. C o a l__
Chic. Milw. & St. Paul.
Chicago & Ohio Biver.
Chic. St. Paul & K. C.
Chic. & W est M ich.. .
Cin. Jackson & Mack.
*Cin. N .O .& Tex. Pac
‘Alabama Gt. South
‘N. O.& North East
‘ Vicksb. & Meridian
*Vicksb. Sh. & P a c ..
Cin. Bich. & Ft. W ...
Cin. & Springfield.. ..
Cin. Wash. & B a l t ....
‘d e v . Akron & C ol...
Clev. Col. Cin. & Ind
Clev. & M arietta.......
Col. & Cin. Midland...
Col. Hock. V. & T o l...
Denv. & Bio Grande
*Denv. & B. G. West.
Det. B ay City & A lp..
Detroit Lans’g & No
«D uluth S. Sh. & Atl..
‘ EastT enn. Va. &Ga.
E vansv. & Ind’nap’s.
Evansv. & T. H aute..
F lin t & Pere M a rq ...
*Fla. By. & Nav. Co
F t . Worth & Den. C’y .
Georgia Pacific...........
Gr. Bapids & Ind’a ....
Other lin e s ...............
tGrand Trunk of Can
‘ H ouston & Tex. Cent
111.Cent. (Ill.&So.Div.)
Cedar Falls & Minn.
Dubuque & S. City.
Iow a Falls & S.City.
Ind. Decatur & Sp___
Jack. Tamp. & K ey W.
'K an. C. Ft. S. &Gulf.
‘ Kan. C. Sp. & Mem
‘ Kan. C. Clin. & S p ...
K entucky Central___
Keokuk & W estern...
K ingst. & Pembroke.
Lake Erie & Western.
Lehigh & Hudson ..
‘ Little Bock & M em ..
Long Isla n d ................
Louisv. Evans. & St. L.
Louisville & N a sliv ...
Louisv. N . Alb. &Chic.
Louis. N . O. & T e x a s..
‘Memphis & Chaff ton
iM exican Central.......
JMexican B a ilw a y ...
Milw. L. Sh. & W est...
Milwaukee & N o rth ..
Minneap. & St. Louis.
Mobile & O hio............
Natchez Jack. & C ol..
N.Y. Cent. & Hud. B ..
N.Y. Ont. & West’r n ..
Norfolk & W estern ...
Northern P acific____
Ohio & M ississippi..
Ohio B iv er....................
Ohio Southern...........
‘Peoria Dec. &E vansv.
Pittsburg & Western .
Bichm . & D a n v ille...
Va. Midland D iv__
Chari. C. & A. D iv ..
Col. & Greenv. D iv.
"Westem N . C. D iv ..
Wash. O. & W. D iv.
Ashev. & Spar. D iv.
§St. L. A. & T. H. m. 1
Do
B ranches..
S t. Louis Ark. & Tex
St. Louis & San Fran.
St. Paul & D ulu th.......
St. P aul Minn. &Man.
San Anton. & Aran. P.
Shenandoah V a lle y ...
Staten Island Bap. T.
Texas & P a cific...........
Tol. A. A. & N. M ich..
Tol. & Ohio Central...
Tol. Peoria & W est...
V alley o f Ohio............
Wabash W estern........
West. N. Y . & P en n ...
W heeling & L. E r ie ..
bWisconsin Central...
1888.
1887.
$
180,865
146,143
221,000
54,689
171,037
816,000
367,559
105,640
147,153
73,615
151.667
159,200
41,959
1,577,000
3,335
129,835
94,523
32,950
185,067
89,395
47,987
29,371
29,914
33,786
83,015
173,523
32,352
285,805
22,766
21,684
190,846
501,500
58,475
34,500
65,322
68,366
331,038
17,619
67,691
188,966
69,839
69,752
102,081
163,871
14,887
1,083,032
134,616
880,488
7,311
73,240
53,590
23,732
57,947
129,067
95,511
11,979
70,008
24,788
12,413
146,377
17,691
47,220
174,869
76,472
1,266,965
149,756
218,345
116,293
472,000
320,130
144,225
69,730
100,398
207,847
13,896
2,586,483
104,921
327,941
916,990
295,528
25,401
47,702
41,300
123,067
406,800
123,725
89,200
76,410
56,675
8,065
8,250
141,704
74,730
222,030
390,944
78,197
555,015
61,419
58,000
41,392
456,279
44,620
103,005
66,308
42,512
350,450
219,000
71,802
248,701
$
186,541
131,727
195,938
50,766
116,234
510,646
301,717
97,289
124,803
68,420
161,340
141,289
30,378
1,524,972
4,085
69,600
91,420
28,740
178,286
89,507
37,377
32,554
33,418
28,827
77,233
160,643
26,548
275,692
23,041
24,981
208,724
552,285
48,925
26,083
66,714
52,778
298,328
17,357
54.534
173,500
70,806
40.039
79,969
151,177
7,107
1,262,705
145,498
833,506
6,974
53,397
42,715
27,985
53,912
128,145
103,921
18,421
64,232
24,196
7,868
136,792
20,534
55,181
153,690
62,646
1,170,453
144,620
172,225
101,909
386,763
287,564
158,554
64,887
103,366
200,498
13,790
2,454,831
86,405
276,591
525,728
311,028
14,227
45,928
45,900
121,998
363,461
96,200
79,630
' 66,875
49,537
4,910
2,936
157,439
66,845
164,636
397,035
81,913
434,809
24,169
57,620
39,601
459,573
36,712
77,734
61,689
41,972
423,203
184,148
54,263
221,422
Mileage.
Increase or
Decrease. 1888.
1887.
[Y ol. XLYI.
found in the Middle Western section, and include some
of the Western connections of the Eastern trunk lines.
No doubt the poor corn crop raised in that district last
season is largely responsible for these losses. There are
not a few roads, however, t in the same section which
show very heavy gains in the face of that adverse
influence, thus illustrating the great industrial develop
ment going on there. The following compares results for
six years on a few leading companies.
$
818
818
—5,676
294
294
+ 14,416
+ 25,062 1,046 1,039
265
265
+ 3,923
210
+ 5 4,803
278
+ 305,354 4,476 4,337
981
+ 6 5,842
981
510
+ 8,351
510
398
+ 2 2 ,3 5 0
398
139
139
+ 5,195
268
268
—9,673
February.
1888.
1887.
1886.
1885.
1884.
1883.
278
+ 17,911
251
$
146
119
+ 11,581
$
1
$
i
$
5,652
Chicago
&
East.111.
5,298
+ 52,028
150,200
141,289
129,142
1005252
107,467
112,269
86
86 Chic. & W . M ich ...
-7 5 0
04,523
91,420
95,767
65,498
111,234
99,972
602
+ 60,235
478 Cin. W ash. & B alt.
178,523
160,643
144,623
149,832
117,191
124,361
413
413 Clev. Col. C. & I ...
+ 3,103
285,805
275,692
292,520
250,015
302,995
321
315,789
286
+ 4 ,2 1 0
190,846
208,724
154.C62
163,954
336
336 Col.Hock.V. & Tol.
+ 6,781
129,366
195,954
295
65,322
—112
295 D et. L ansing &No.
63,714
82,400
65,710
92,021
92,274
196
196 Evansv.& T erre H .
+ 10 ,6 1 0
67,691
54,534
50,288
46,211
48,846
46,606
143
143 F lin t & P . M a rq ... 188,066 173,500 157,849
—3,183
129,572
189,589
164,954
170
170 ♦Grand R ap.& Ind.
—3,504
212,544
187,111
167,806
131,907
184,322
162,772
86
86
+ 4,959
880,488
833,506
857,753
868,716
813,699
+ 5,782
80
80 till. C entral...........
847,439
295,528
+ 1 2 ,8 8 0
281
281 Ohio & Mississippi
811.028
274,420
267,879
231,023
283,999
144
+ 5,804
144
T o ta l.................... 2,614,436 2,503,961 2,406,639 2,248,546 2,327,753 2,446,389
+ 10 ,1 1 3
391
391
—275
106
106
* AH lin e s , t Illin o is a n d S o u th e rn d iv is io n s .
70
—3,297
70
325
325
—17,878
There are two roads that have particularly large gains,
—50.785 1,461 1,317
+ 9 ,5 5 0
369
369
+ 8 ,4 1 7
213
168 namely the Canadian Pacific and the Northern Pacific
—1,392
268
268
+ 15,588
307
307 both of which were somewhat affected by snow blockades
+ 32 ,7 1 0 1,098 1,098
Still, their gain now can only in small measure
+262
138
138 last year.
156
+ 1 3 ,1 5 7
156
While the Canadian
+ 1 5,466
363
361 be ascribed to that circumstance.
574
—967
534
276
192 Pacific has gained, however, the Grand Trunk has lost, and
+ 29,713
+ 2 2 ,1 1 2
401
317
+ 12 ,6 9 4
409
409 probably some will trace a connection between the two.
+ 7 ,7 8 0
63
63
In the Northwest the effects of the rate war are not
—179,673 2,924 2,924
—10,882
513
513 very clearly discernible in gross earnings.
The St. Paul
+ 46,982 1,953 1,953
+337
*76
76 & Duluth, the Minneapolis & St. Louis, and the Milwaukee
143
143
+ 1 9,843
183
+ 10 ,8 7 5
183 Lake Shore & Western report diminished earniDgs, but
152
152
—4,253
+ 4,035
130
130 the Milwaukee & St. Paul, the Central Iowa, the Burling
+922
389
389
282
282 ton Cedar Rapids & Northern, the Keokuk & Western,
—8,410
—6,442
174
174
254
254 the Milwaukee & Northern, the Chicago St. Paul &
+ 5 .7 7 6
+592
148
148
+ 4 ,5 4 5
115
115 Kansas City and the Manitoba all show larger or smaller
+ 9 ,5 8 5
548
548
—2,843
63
63 gains, the last two, however, on a greatly increased
—7,961
135
135
354
354 mileage. Here is a comparison on seven roads for six
+ 21,179
+ 13 ,8 2 6
254
254
+ 96,512 1,993 2,023 years.
+ 5 ,136
537
520
+ 4 6,120
511
511
February.
1888.
1887.
1886.
1885.
1884.
1883.
+ 1 4,384
330
330
+ 85 ,2 3 7 1,236 1,236
$
$
$
$
$
$
+ 3 2,566
293
293
221,000
195,938
207,548
202,537
201,964
187,001
—14,329
573
573 Bur. C. Bap. & Nor.
105,640
97,289
102,357
85,902
99,154
79,956
+ 4 ,843
269
243 C entral Iow a..........
—2,968
351
351 Chic. Mil. & S t.P . 1,577,000 1,524,972 1,568,901 1,345,496 1,317,004 1,257,046
+ 7,349
687
687 Minn. & St. Louis.
100,398
103,366
113,162
96,491
120,692
107,548
+ 106
100
1 0 0 N orthern P acific..
916,090
569,964
525,728
594,240
520,085
328,158
+ 131,652 1,441 1,441 St. P aul & D uluth.
78,197
81,913
67,385
56,808
54,951
63,088
+ 18,516
321
321
389,613
+ 5 1,350
554
533 St. Paul Minn. & M 555,015 434,809 410,157 395,217 407,446
+ 391,262 3,277 2,893
T o tal.................... 3,554,240 2,964,015 3,066,280 2,769,176 2,697,155 2,412,410
—15,500
616
616
+ 1 1,174
172
172
+ 1 ,7 7 4
128
128
As in previous months, Southern roads as a whole do
- 4 ,6 0 0
254
254
+ 1,069
367 better than any others. Ail the leading companies make
367
+ 43,339
797
797
+ 27,525
355
355 excellent comparisons with last year, and it is hardly
+ 9,570
373
373
+ 9,535
296
296 necessary to single any of them out for special mention.
+ 7,138
290
290
+ 3,155
50
50 A few minor lines report decreases, but this has no special
+ 5,314
70
70
—15,735
267
267 significance. We annex the following, showing results
+ 7,885
203
188
+ 57 ,3 9 4 1,050
775 for six years on some of the larger companies.
—6,091 1 ,2 1 2
963
—3,716
230
225
February.
1884.
+ 1 20,206 2,651 1,850
1887. 11 1880.
1885.
1883.
1888.
+ 3 7,250
353
152
$
$
$
$
$
*
1
+380
255
255
80,425
113,630
112,186
75,653
147,153
124,803
+ 1,791
21
21 Ches. Ohio & So’n •
1,015,431
—3,294 1,487 1,487 L ouisville & Nash. 1,260,965 1,170,453 1,049,266 1,083,808
1,014,807
+ 7,908
184
184 Mobile & O h io ..... *207,847 *200,498 *167,139 164,494 161,283 168,245
+ 25,271
213
213 ■ N orfolk & W est. ..
225,357
190,281
191,345
221,788
327,941
276,591.
+ 4,619
247
247
333,755
309,890
346,513
329,243
406,800
383,461
+540
75
75 Richm . & D a n v ...
300,822
322,805
285,544
236,278
390,944
397,035
—72,753 1 ,001
880 St. L. & San F ran .
109,590
97,905
113,823
+ 34,852
96,200[ 105,018
663
123,725
Va. M id la n d .......
+ 17,539
186
186
T o ta l............ . ‘ 2,871,375 2,629,0411 2,289,408 2,264,886 2,248,646 2,129,398
+ 27,279
818
818
Total (109 road s)...! 22,118,090 20,210,253 + 1,907,837 61,769 58,640
* In c lu d in g S t. L o u is & C airo.
For the first two months of the year, our statement
it will be seen covers 106 roads, of which 30 show a
decrease, and 76 an increase, the net gain being $3,031,We have already remarked that there are 28 roads 510, or 7-17 per cent. There is nothing special to be said
which report losses in earnings. These are scattered of the exhibit beyond what has been said above and what
pretty well all over the country, but the most of them are* was said in our review for January a month ago.
* In c lu d e s tlir e e w e e k s o n ly o f F e b r u a r y In e a c h y e a r,
t F o r fo u r w eeks en d ed F e b ru a ry 25.
J M e x ic a n c u rre n c y .
§ In c lu d in g I n d ia n a p o lis & S t. L o u is.
a In c lu d in g D e tr o it M. & M a rq . a n d M arq . H o u g h . & O n t.
6 A ll lin e s .
M arch
THE CHKOMOLE
10, 18t 8 .]
GROSS EARNINGS FROM JANUARY 1 TO FEBRUARY 29.
Nam e o f Road.
A tlantic & P acific...........
Buffalo Roch. & P itts. ..
Burl. Ced. Rap. & N o ...
Cairo Vincennes & Chic.
California Southern.......
Canadian P a cific.............
‘ Central of Georgia.......
Central of I o w a ..............
Chesapeake Ohio & S.W.
Chicago & A t la n t ic .......
Chic. & Eastern Illinois.
Chic. & Ind Coal.............
Chicago Milw. & St. Paul
Chicago & Ohio R iv er...
Chic. St. Paul & K. City.
Chicago & W est Mich . ..
Cin. Jackson & Mack__
*Cin. N. Orl. & Tex. P ac.
‘Alabama Gt. South’n .
‘N ew Orleans &No. E .
‘ Vicksburg & Meridian
‘ Vicksburg Sh. & P a c ..
Cin. Rich. & Ft. W ayne.
Cin. & Springfield............
Cin. Wash. & Baltimore.
*Clev. Akron & C ol........
Clev. Col. Cin. & In d __
Clev. & M a rietta ______
Col. & Cin. M idland.......
Col. Hock. Val. & T o l. . . .
D enver & Rio G rande...
‘ D enver &R. G. Western
D etroit Bay City & A lp..
D etroit L ansing & N o . . .
Duluth S. S. & A tlantic..
‘ E a stT en n . Va. & G a ...
E van sville & Indianap .
E van sv. & T. H au te.......
F lin t & Pere Marquette.
‘ Florida R’y & Nav. Co..
F t. Worth & Denv. City.
Georgia P acific.............. .
Grand Rapids & In d ___
Other lin es.....................
tGrand Tr. of Canada...
‘ H oust. & Tex. Central.
HI. Cen.—(Ill.&So.Divs.)
Cedar F alls & M in n ....
Dubuque & Sioux City.
Ia. Falls & Sioux City.
Indianap. Dec. & Spring.
ITJack. Tampa & K.West
‘ Kan. City Ft. S. & G ulf.
‘ Kan. City Sp. & Mem ..
‘ Kan. City Clin. & Spring
K entucky Central............
Keokuk & W estern.........
K ingston & Pembroke ..
Lake Erie & W estern ....
Lehigh & H udson............
‘L ittle Rock & Memphis.
Long I s la n d .....................
Louisv. E vansv. & St. L.
Louisville & N a sh v ille..
Louisv. N. Alb. & C h ic...
Louisv. N. O. & Texas .
‘ Memphis & Charleston
JMexican C entral...........
^Mexican Railway?.........
Milw. L. Shore & West’n.
Milwaukee & N orthern..
Minneap. & St. L ou is__
Mobile & Ohio X ..............
N atchez Jackson & Col..
N.Y. Cen. & Hud. R iv ..
N.Y. Ontario & West’n .
Norfolk & W estern.........
Northern P a c ific .............
Ohio & M ississip pi.........
Ohio R iv e r .......................
Ohio S o u th ern ...........
P ittsburg & W estern__
Richmond & D a n v ille...
Va. Mid. D iv ..................
Char. C. & A. D i v ........
Col. & Greenv. D iv ___
West. Nor. Car. D iv . . .
Wash. O. &M. D iv . . . .
Ash. & Sp. D i v ............
§St. L. A. & T. H. m. lin e.
Do
Branches__
St. L. Ark. & T ex a s.........
St. Louis & S. Francisco.
St. Paul & D ulu th ...........
St. Paul Minn. & M a n ...
San. Ant. & Aras. P ass..
Shenandoah V alley........
S taten Island Rap. Tran,
T exas & P a c ific ..............
Tol. A. A. & Nor. M ich..
Tol. & Ohio C en tral____
Tol. Peoria & W estern ..
W abash W estern _____
W estern N. Y. & P enn.
W heeling & Lake Erie
W isconsin Central........
Total (106 ro a d s)....
N et increase......................
1888.
$
409,877
295,766
429,245
109,227
320,474
1,617,205
1,036,557
203.912
307.912
292,210
316,826
85,540
3,029,000
6,609
251,697
181,907
65,986
462,694
226,144
123,036
75,437
77,166
62,326
168.255
344,013
75,288
599,241
47,670
46,377
396,069
1,098.900
149,834
62,305
130,092
143.356
800,482
33,896
131,127
381,526
165,051
133.255
212,189
306,062
27,559
2,145,386
324.867
1,769,393
13,301
130,021
95,813
52,203
107,196
342.969
243.969
33,854
142,717
53,988
21.938
289.823
34,759
115,270
349,276
152.133
2,573,782
285,166
448.357
274,233
977,600
633,329
277,659
137,597
186,998
409,965
29,151
5,303,187
212,493
708,742
1,620,597 j
600,355
5 2 ,0 3 1 1
106,888
265,920
796,559
249,557i
173,457
134,2741
107,349
15,075
16,449
302,393
152.867
439,684
783,637
146,050
1,037,436
121.824
109.100
84,173
1,013,815
92,98S
211,217
138,819
765.100
431,759
141,045
469,460
1887.
Increase.
Decrease.
307
&c., and present them below. Tne results now cover the
period from September 1 to March 1.
OVERLAND MOVEMENT TO
394,105
255,173
416,146
108.487
240,629
1,154,139
824,408
206,735
270,403
299.895
296,352
58,790
3,015,211
10,716
151,645
176,279
56,221
443.480
217,297
106,380
85,812
93,117
56,213
162,843
343,504
63,309
574,041
47,506
53.445
433,152
1,097,935
320,484
50,479
141,131
95,556
720,815
35,564
109,144
344.895
161,028
77,658
175,553
295,901
14,519
2,363,151
364,082
1,793,454
14,831
114,035
92,581
70,472
111.488
365,227
275,399
35,192
131,423
48,741
14,242
283,178
41.446
136,655
312,541
126,964
2,398,222
281,999
390,288
258,155
808,583
575,214
301,439
129,369
221,211
436,513
29,431
5,169,541
176,571
555.896
1,097,149
606,247
32,631
£99,404
275,104
704,500
206.481
148,206
111,258
99,486
12,437
5,951
311,628
140,930
330,660
783,521
180,770
894,060
47,508
[114,908
80,229
984,142
71,954
163,690
136,314
824,098
373.957
105,894
437.957
44,896,313 41,864,803
15,772
40,593
13,099
740
79,845
463,066
212,149
37,509
20,474
26,750
13,789
100,052
5,628
9,765
19,214
8,847
16,656
6,113
5,412
509
11,979
25,200
64
965
29,350
11,826
47,800
79,667
2,823
'7,685
4,107
10,375
15,951
7,068
37,083
11,039
‘*
21,983
36,631
4,023
55,597
36,636
10,161
13,040
15,986
3,232
11,294
5,247
7,696
6,645
1,668
217,765
39,215
24,061
1,530
18,269
4,292
22,258
31,430
1,338
6,687
21,385
36,735
25,169
175,560
3,167
58,069
16,078
169,017
58,115
8,228
133,646
35,922
152,846
523,448
19,400
7,484
92,059
43,076
25,251
23,016
7,863
2,638
10,498
11,937
109,024
116
143,376
74,316
3,944
29,673
21,034
47,527
2,505
OVERLAND FROM SEPTEMBER 1 TO MARCH 1.
1887-8.
1886-7.
1885-6.
Over Illinois Central....................... .........
396,132
157,564
80,991
Over the Mississippi River, above St. L.
Over E vansville & Terre H a u te .............
Over Jeffersonville Mad. & In d ___ ____
Over Ohio & M ississippi Branch.............
Over Louisville Cincinnati & Lexington
Receipts at Cincinnati by Ohio R iv er...
Receipts at Cincinnati by Cin. South’rn
Over other routes.........................................
Shipped to m ills, not included a b o v e...
75,594
41,931
8,996
79,629
13,276
120,729
160,858
7,105
318,278
154,693
109,374
12,246
56,108
19,995
7,407
79,230
17,474
88,575
109,405
8,753
318,588
146,455
56,060.
15,870
37,305
29,502
15,020
56,497
49,690
77,937
76,017
8,749
981,538
887,690
247,684
189,220
39,671
54,382
22,076
9,514
819
4,151
535
33,852
236
4,801
9,395
796
6,096
957
4,673
A m ount Shipped—
34,213
26,548
2go
.............
5,892
9,184
.............
9,235
34,720
.............
5,808
Total gross o verlan d ........................... 1,142,803
Deduct—
Receipts overland at N.Y., Boston,&o. 185,685
Shipments betw een (or South from)
46,869
Deduct also Shipm ents in la n d an d Taleings f o r Southern Consumption
from the follow in g Southern ports—
New Orleans..............................................
M obile.............;.........................................
Savan n ah ........................................ ..........
North Carolina p o r ts..............................
Virginia ports........................ ..................
58,998
57,802
35,151
31,503
3,726,197
3,031,510
MARCH 1 .
Rail shipments during the month have been quite free,
but fall slightly behind the total for February of last
year. Compared with the corresponding period in 1886,
however, a very satisfactory increase is recorded. The
month’s gross has been 109,315 bales, against 112,050
bales in 1887 and 85,116 bales two years ago. For the
season to date the total continues largely in excess of
previous years. As will be seen by the subjoined state
ment, the Cairo & Vincennes road has carried less cotton
this year than last, and thus far in 1887-88 not a
bale ha3 been moved via Hannibal. All the other rail
roads have made gains on the figures of a year ago, the
Cincinnati Southern and the Jeffersonville Madison &
Indianapolis, however, to the greatest extent. The net
movement for the month would seem to have been only
24,339 bales—in other words, that amount has been
added during February to our previous net total. But
in this connection it should be stated that a count of
stock at New Orleans was made early in February, and
it was found that some thirty thousand bales more than
had been reported had gone to the interior from that
port. This result was not announced until nearly a week
after our last overland statement had been issued. We
make the necessary revision now, and in consequence
thereof the month’s net appears quite small, although in
reality it was about 50,000 bales, against 40,013 bales in
1887 and 57,935 bales in 1886. The net for the six
months exhibits an excess over the like period of 1886-87
of 193,519 bales, and records a gain compared with
1885-86 of 199,618 bales. The details are appended.
694,687
* Includes three w eeks only of February in each year,
t To February 25.
{ M exican currency.
§ Including Indianapolis & St. Louis.
„
IT Decrease is ow ing to great reduction in rates m ade by Florida Rail
road Commission.
38,484
18,802
1,713
3,660
1,191
29,646
Total to be deducted........................... 326,053 358,305 270,556
Leaving total n et overland*............. . 816,752 623,233 617,134
* This total includes shipm ents to Canada by rail, w hich since Sep
tember 1, in 1887-8, amounted to 30,586 bales; in 1886-7 were 26,387
bales and in 1885-6 were 26,365 bales.
RECEIPTS, EXPORTS AND SPIN N ERS7 TAKINGS.
Receipts at the ports during February were of smaller
volume than for the like period in either of the two
oreceding years, but the aggregate for the season to date
continues in excess of the total for any similar time in
COTTON CONSUMPTION AND OVERLAND our record. The month’s receipts have been 341,274
bales, against 404,272 bales last year and 414,656 bales
MOVEMENT TO MARCH 1.
in
1886. The exports to foreign ports have likewise
We have this week compiled our usual statements of
fallen
off to some extent, but the shipments have been
overland movement, receipts, exports, spinners’ takings,
TH E CHRONICLE.
308
[Y ol.
XLVI.
quite libera1, however, reaching 392,176 bales, a decline
1887-8.
1886-7.
1885-6.
from the month of 1887 of 22,428 bales, and a loss com Total m arketed, as a b o v e....b a les. 5,995.796 5,677,984 5 ,3 7 4 ,8 2 1
30 *,000
250,000
4 2 5 ,0 0 0
pared with 1886 of 1,967 bales. Taere yet remains a Interior stocks in excess of Sept. 1
Total
in
sig
h
t.......
.............bales.
6,303
799
5,927.984
5,79
9 .8 2 1
small excess over 1886 87 in the season’s total, and con
This
indicates
that
ihe
movement
up
to
March
1 of
trasted with the previous year the gain is 560,471 bales.
the
present
year
is
375,812
bales
more
than
in
1886
7
and
Our usual table of receipts, exports and stocks 4s given
503,975
bales
greater
than
in
1885
6.
below.
As it will interest the reader to see vhat has come into
M ovem ent from Receipts Receipts E X PO R T S SINCE S E P T . 1, 1887, TO—
sight
each month of the season during this and previous
Stocks
since
since
Sept. 1 ,1 8 8 7 , to
Marcii 1, 1888. Sept. 1, Sept. 1, Great France. Conti
Total. M archi. years, we have prepared the folio win
1887.
Galveston......... 631,079
Indianola, &c .
New Orleans.... 1,527,528
Mobile............... 19H.647
Savannah..........
Brunswick, &c.
Charleston.........
Port Royal,&c.
Wilmington......
WaBhingt’n,&c
WestPolnt.&c.
New York.........
Baltimore..........
Philadelphia,&c.
Total 188 7 -8 ........
23,056
809,559
69,029
881,057
13,201
161,693
4,839
424,741
457,915
66,610
63,470
82,648
22.957
4,879,044
1886.
Britain*
nent.
676,412
223,970
1,517,269
202,0 3
22,208
767,521
25,744
372,186
16,131
130,864
8,711
500,172
802,846
77,511
80,493
57,685
31,965
544,715
62,488
3,446
145,348
36,568
67,815
220,473
75,786
6,395
200,603
191,272
358,056
141,218
81,293
88,165
2,170,743
4,024
12,480
304,929
26,499
Months.
1886-7.
1885-6.
1884-5.
315,545 1,080,733
62,488
3,446
217,608 375,436
36,568
164,486 258,140
805,055
29,986
September............
October..................
N o v em b er...........
D ecem b er.....__
January.................
February...............
824,369
1,588,7^6
1.639,906
1,340,871
540,271
369,613
434,838
1,359,901
1,5*2,538
1,467,767
662,654
450,285
485,552
1.360,870
1,44-,433
1,488,58 Ì
541,793
479,591
413 ,8 3 6
1,309,111
1,330,902
1,360,404
513,187
291 ,7 5 3
Total 6 m onths.
6.303,7 6
5.9:27,9 84
5.799.821
5 .2 -9 .1 9 3
76,935
58,764
37,635
119,816
33,594
443
7,335
3,375
1,099
163,793
1,996
25,890
3,860
203,978
192,371
547,117
143,214
108,988
42,025
85,598
3,655
274,159
18,000
21,097
26,491
296,284 1,012,222 3,479,249
840.676
851,870
25,839
25,268
1,805
T o t a l 1 8 8 8 - 7 ..,.
4,804.751 2,151,116
441,574
860,435 3,453,125
Total
4,5 5 2 ,6 s7 1,616,802
310,220
991,756 2,918,778 1,018,499
1885 tt ........
WEIGHT OP BALES.
To furnish a more exact measure of the receipts up to
March 1, we give below our usual table of the weight
of bales.
Same
Same
Six Months E nding March 1, 1888. p e r i’d in p eri’d in
1886-7. 1885-6.
Num ber of
Bales.
* Great Britain exports include to tlxe Channel.
UsiDg the facts disclosed by the foregoing statements,
we shall find that the portion of the crop which has reached
ft market through the outports and overland, and the
Southern consumption since September 1, this year and
the two previous years, is a3 follows:
1887-8.
T e x a s ................
621,079
Louisiana.......... 1,527,523
Alabam a. . . . . . .
196,647
Georgia*............
901,641
South Carolina.
394,258
Virginia.............
882,646
North Carolina.
169,562
Tennessee, & c.. 1,302,437
Total............
1887-8.
1886-7.
1885-6.
B eceip ts at the ports to March 1 . . . hales. 4,879,044 4,804,751 4,552,687
N e t shipm ents overland during sam e time 81e,752 623,233 «17,134
Total reoeipts.............................%.bales. 5,695,796 5,427,984 5 ,1 6 ',8 2 1
Southern consumption since September 1 300,000 250,000 205,000
Total to Maroh 1...........................bales. 5,995,79b 5,677,984 5,374,821
The amount of cotton marketed since September 1 in
1887-8 is thus seen to be 317,812 bale3 more than in 1886-7
and 620,975 bales more than in 1885 6. To determine
the portion which ha3 gone into the hands of Northern
spinners during the same period we have prepared the
following.
Total receipts to March 1, 1388, as a b o v e ........................ b a les.5,935,796
Stock on hand com mencement of year (8ept. 1 ,1 8 8 7 )—
49,004
A t Northern ports..................................
A t Southern ports..................................
33,082 — 82,036
A t Northern interior m arkets................................
2, 155 — 84,241
Total supply to March 1 ,1 8 8 8 ..............................................
6,030,037
been exported
to foreign ports since Sept. 1, ’8 7 ...3 ,4 7 ',219
Less foreign cotton included...................
2 ,8 4 3 -3 ,4 7 6 ,4 )1
3 >,5 36
Bent to Canada direct from W est.........................
B urnt North and S o u th ......... .................................
7,512
Btook on hand end of m onth (March 1 ,1 8 8 8 )—
A t Northern ports................................... 339,747
A tS outh ern p o r t s ................................... 5 00,929— 840,676
At Northern interior m arkets................ ..............
4,000—4,359 175
Of this supply there has
T otal takings by spinners since September 1 ,1 8 8 7 ..b ales. V72G&62
Taken by Southern spinners....................................... .................. 30o|ooo
Taken b y Northern spinners since September 1 ,1 8 8 7 ................ 1,42 J,8c2
Taken by Northern spinners sam e tim e in 1886-7....................... 1,216,690
In crease in takings b y Northern spinners this year....... bales.
174,172
The above indicates that Northern spinners had up to
March 1 taken 1,420,862 bales, an increase over the cor.
.responding period in 1886-7 of 174,172 bales and an
ncrease over the same time in 1885-6 of 90,129 bales.
AMOUNT OF CROP NOW IN SIGHT.
In the foregoing we have the number of bales which
has already been marketed this year and the two previous
seasons. An additional fact of interest is the total of the
crop which was in sight on March 1, compared with
preyjpus years, and this is shown in the following.
Weight in
P ounds.
5,995,796
Average Averagt Average
Weight. Weight. Weight.
433.465,353
187,075,421
419,256 850
80,202,826
635,589,253
515-71
482-10
49900
480-75
474-50
47500
473 00
48800
514-56
481-00
49300
477-75
469-00
477-30
467-50
499-88
517-42
482-50
504*00
487-00476-35
475-20
467-30
4 9 1 -5 0
2,910,432,048
485-41
4 t7-84
488-1T
320.2S6.651
736,418,838
9 4 ,1 2 6 8 5 3
* Including Florida.
THE COTTON GOODS TRADE IN FEBRUARY.
The general demand for staple cotton goods was less
active during the month, but there was a very large busi
ness in cotton flannels at a considerable advance upon
'ast year’s prices, and the mill agents continued to make
^iberal shipments of plain and colored cottons on account
of back orders. The market retains the buoyancy of
tone reported for months past, and prices (other than fo r
print cloths and corresponding grades of bleached goods,
which are easier,) are firmly maintained because of the
meagre stocks on hand. Print cloths were relatively
quiet, and 64x61s have declined ^c., the market closing
barely steady at 3fc.
1888.
Feb.
1 ................
2 ................
3 ................
4 ................
5 ................
6 ................
7 ................
8 ................
9 ................
10................
11................
1 2 ...............
13................
14................
15................
16................
17................
18................
19................
2 0 ................
2 1 ................
22 ................
23 ................
2 4 ................
2 5 ................
2 6 ................
2 7 ................
2 8 ................
2 9 ................
1887.
Oott’n P rin t Sheet
in g ings,
low
m id cloths, stan d
dlin g. 64x64 ard.
103f6
lO^s
10*8
10*«
toi«
10116
1048
101«
101«
101«
101«
101«
l « 1«
101«
101«
lO^s
101,6
10116
400
4-00
400
400
.. S ...
4-00
4-00
4-00
4-00
400
4-00
.. 8 ...
400
4-00
400
4-00
4 00
4-00
...S ...
4"«0
4-00
3-88
3-88
3-88
..S ...
lO iis 3-75
3-75
10
10
3-75
L d ie
I 0 i16
1 0 i16
7ifl
7*2
74
74
74
74
74
74
74
74
74
74
74
74
74
74
1886.
Oott’n P rin t Sheet Oott’n P rin t Sheet
low
in g ings, low
in g in gs,
m id cloths, stan d m id cloths, sta n d
dlin g. 6ax64 ard. dling. 64x64 a rd .
815ifc
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
91-16
74
74
9he
74
74
74
94«
9* 1«
Hile
74
74
74
946
3-50
3-5 0
3-50
3-50
3*00
...8 ..
3-50
3-50
3-50
3-50
3-50
3-50
...S ...
3-50
3 ‘5u
3-50
3-48
3-48
3-46
.S ...
3-46
H ’day
3-44'
3-44
3-44
3-44
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
. . . 8. . .
3-44
7
8%
3-38
3-31
3-31
3-27
3*25
3-25
84
.. 8 ...
6*11 6 3-25
3-25
6 s«
3-23
85s
3-23
84
3-23
84
3-23
84
. 8 ...
323
84
3-22
84
h4
3-20
89,6 3 1 9
84
319
3-19
84
.. 8 ...
8%
8%
84s
87 6
87,6
84
84
319
319
3-19
3-19
3-19
64
64.
64
64
6%
64
64
64
64
64
64
64
64
64
64
64
64
64
64
64
64
64
64
. . . 8. . .
The above prices are—For ootton, low m iddling upland at N ew York
for printing olotba, m anufacturers’ prices; for sheetings« agen ts’ prices*
which arc subject to an average discou n t of 5 per cen t.
March
10, 18 8 .]
THE CHRONICLE.
309
T H E D E B T S T A T E M E N T FOR F E B R U A R Y \ 1888. in England and Spain. There was quite a rush for the £300,
000 in £5 shares offered, and the list was only open for an
The following is the official statement of the public debt as hour or two, as the applications, it is represented, soon
■it appears from the books and Treasurer’s returns at the close reached a total of about £6,000,000. The Bank of England has
of business February 29, 1888.
offered an issue of £800,000 Nottingham Corporation stock. The
IN T E R E ST -B E A R IN G D EB T.
Delagoa Bay & East African Railway has sought to raise
A m o u n t Outstanding.
In t. Due Accrued
a further £100,000 in 7 per cent debentures, and it is notice Character of In te r’t
&Unpaid1. Interest.
Total.
P ’y’ble Registered,.
Coupon.
Issue.
able that the shares of this concern, which were an unmar
t
$
$
$
$
ketable security till quite recently, are now quoted at par.
169,678 2,593,627
..........1891. Q .-M . 193,052,300 37,492,300 230,544,600
The New York Pennsylvania & Ohio Railroad has offered
1,153,038
4,883.013
732,451,900
111,432,400
621,019,500
48............. 1907. Q .- J .
50,414
960 £240,000 in 5 per cent equipment trust bonds. Another public
144,040
-4s refdg.certfs. Q .- J .
70,0 0
420,000
14,000,000
Ss, pension ... J .& J .
646,235 issue which calls for comment is the London Produce Clear
43,440
•64,623,512
Pacific R R s ... J.& J. •64.623,512
ing House (limited), formed with a capital of a million, of
A g g re g a te ............. 878.695,312 148,924,700 1,041,764,052 1,836.570 8.193,833
which one-half was offered to the public. This enterprise
* Ss.ooa.ouo m atu res ja n . 10, 1 0 ; *«■*«,mm u u i . . . »<»"1 «w .,— - — -» ------»
#4,320,000 Feb. X, 1896; $9,712,000 J a n . 1,1897; $29,904,952 J a n . 1,1898; $14,004,560 proposes “ to place on a secure basis, by a system of deposits,
the dealing in produce for future delivery, which has become
J a n . 1.1899.
„
D EB T ON W H IC H IN T E R E ST H A S CEASED SINCE M A T U R ITY .
such an important development of trade, both in Europe and
A ggregate of d e b t on w hich In te re st has ceased since m a tu rity is $2,741,265;
■interest d ue and unpaid th e re o n , $ 174,704. T his d eb t consists o f a num ber of America, and in so doing to retain and attract transactions
ite m s of which th e principal a m o u n ts a re called bonds, th e principal ite m
which must otherwise pass from this country to places where
b e in g $865,850 called 3 p er cen ts o f th e loan o f Ju ly . 1882.
similar business is conducted on sounder principles.” It is
D EB T B EA RIN G NO IN T E R E S T .
____________
added that *‘the necessity for such an institution has long been
felt, whilst its utility is proved by the eminent success 'which
$56,940
Old dem and n o te s...............................................................
346,681,016 has attended similar undertakings elsewhere.
The *Caisse
D eg al-ten d er n o te s .............................................................
11,655,000
C ertificates of d e p o sit.......................................................
de Liquidation’ in Havre and a similar institution recently
440,000— 11,215,000
Dess am o u n t held in T reasu rer’s c ash .................
established in Hamburg have proved very profitable under
123,660,081
•Gold certific a te s...................................................................
28,962,163—
96,697,913 takings, and have at the same time given important and safe
Dess am o u n t h eld in T reasu rer’s c ash ..................
205,619,128
•Silver c ertific a te s................................................. . ..........
development to local trade.” Opinion is very divided as to
21,166,469- 184,152,659
Dess am o u n t h eld in T re a s u re rs cash ..»■..........
the merits of the affair, which is promoted by some of the
15,317,759
F ractional currenoy............................................................
8,375,934—
6,941,825 most important commercial and financial houses, including
Dess am o u n t e stim ated as lo st or d e stro y ed ....
$646,045,353 Andre, Reiners & Co., Arbuthnot, Ewart & Co., Baring
A ggregate o f d e b t bearing no in te re s t................
B EC A PITU DATION.
Brothers & Co., C. Czarnikow, Fruhling & Goshen, Antony
Gibb3 & Sons, C. J. Hambro & Son, Fred. Huth & Co., KleinInterest.
Total.
Principal.
wort, Sons & Co., Knowles & Foster, N. M. Rothschild &
$
%
$
10,030,405
D05t.794.456 Sons, I. A. Rucker & Bencraft, J. Henry Schroder & Co.,
1,041,764,052
In te re st-F e a rin g d e b t ..................
174,703
2,915,969
2,741,265
D eb t on which in t. has c ea sed ...
Wallace Bros., Wogau & Co. The firms who promote the
646,045,353
646,045,353
D eb t bearing no I n te r e s t.............
Clearing House guarantee to place the £500,000 stock offered.
10.205.108
1,690,550,670
1,700,755,778
T o tal d e b t..................................
Curiously enough, the Standard, a leading Conservative
D ess cash item s available fo r red u ctio n o f th e debt.. .$305,313,267
405,313,267 organ—and many of the promoting firms stand in the head
Dess re serv e held fo r redem ption o f U . S. n o te s ........ 100,000,000
1,295,442.512 and front of the Conservative party—denounces the affair
T o ta l d ebt, less available cash ite m s.......................................... .. .
92,987,797 with unusual vigor, claiming that the success of such institu
N e tc a s h in th e T r e a s u r y ,................................................................•••
1,202,454,715 tions does not mean the prosperity of the community, and
D ebt, less cash in th e T reasu ry , M arch 1,1888 ...
1,210,211,081
Debt, less cash in th e T reasu ry , February 1,1888.
arguing that though keepers of the gaming tables at Monaco
7,756,366
D ecrease o f d eb t d u rin g th e m o n th ..........................
prosper, it does not follow that the gamesters do so. It likens
■76,974,022
D ecrease o f d eb t since J u n e 80 ,1 8 8 7 ................
the London Produce Clearing House to a “ bucket shop,”
PA C IFIC RA IDROAD8.
enabling time bargains to be entered into by “ Tom, Dick and
In
t.
repaid
b
y
Companies.
Balance
Interest
Harry.” In Mincing and Mark Lanes, the great centres of
Principal accrued, Interest
N am e
B y Trans B y cash pay- of Inter'st
Out
the produce markets, feeling has run very high over the
and not paid by portation m ’ts: 5 p.c. paid by
o f Railway.
standing. yet paid. the U. 8.
Service. netearnings. the U. S. scheme. Brokers shrug their shoulders and say they w ill be
unable to contend with such great firms as those which back
$
$
$
$
$
t
258,851 30,441,537
5,614,174
658,283 24,169,079 the enterprise, and conservative firms practically endorse the
■Gen. Pacific. 25,885,120
4,244,794
63,030 7,831,143
3,586,349
K an. Pacific. 6,303,000
272,365 32,311,708 11,601,789
433,409 20,271,510 opinion of the Standard.
U n i’n Pacific 27,236,512
The public is anxiously looking forward to the disclosure o f
1,644,364
16,000 1,981,808
6,927
330,518
■Gen. B r. U.P. 1,600,00
2,190,933 the Government’s intention w ith respect to the conversion 6f
19,705 2,200,300
W est. Pacific 1,970,560
9,367
1,766,677
16,288 1,903,943
S ioux C. & P. 1,628,320
137,267
British funds. It is whispered in the city that the Chancellor
T otals . .. . 64,623,512
616.235 76,670,441 21,279,464
1,103,619 54,287,857
of the Exchequer has been interviewing his banking friends,
T h e sinking fu n d s h eld ($9,174,650 bonds an d $208,923 cash) $9,383,573, of
w hich $2,854,245 was on account o f C entral Pacific and $6,529,323 on account of and it is believed he w ill receive suggestions which w ill enable
U nion Pacific.
him to formulate a plan of conversion acceptable to the pub
lic. In some quarters it is feared that for the time being he
!P,0itctarijs ©tfmmjerjcial U nfilislx IJew s w ill undertake the conversion only of new and reduced, where
the amount to be dealt with is comparatively small, and can
£From our own correspondent.]
be more easily dealt with than could the bulky volume of
L o n d o n , February 25,1888.
The principal feature in the money market the past week consols. The idea most generally entertained is that he w ill
has been the absorption by the Bank of England of the open suggest the payment for two or three years of 3 per cent, as
market supply of cash, in consequence of the collection of hitherto, then reduce the interest to 2% per cent for a period
taxes. The reduction of the official Bank minimum rate to of fifteen to twenty years, when a further reduction to 2*4
2*4 per cent last week has thus been followed by the abnormal per cent would have to be accepted. The advantage of this
circumstance of a hardening of the discount rates in the open course is that there would be no addition to the capital of thu
market. This, however, was expected, and even further ad debt, whereas if an immediate conversion into 2% per cents
vances of the rates are thought probable. A week or two were put forward, it would mean considerable increase, as
ago the difference between the Bank rate and the open market £105 or £106 of 2*4 per cents would have to be given for each.
rate for three months bills was
that is, the Bank rate £100 of 3 per cents.
For some weeks past investors have been shifting their
stood at 3 per cent and the open market rate at 1% per cent,
w ith transactions at even less. Now w e have the Bank rate money into securities offering a higher rate of yield than that
secured from their holdings of the funds, and as a result there
at 2*4 and the open market rate at 2 per cent.
The hardening of money has moreover been assisted by the has been a marked rise in all high-class Colonial, Indian, cor
unexpected announcement that the Government would issue poration, railway debenture and preference stocks, which are
an additional million c f treasury bills, and also by the con so scarce that they can be bought only at “fancy” prices.
stant appeals to the public for subscriptions to new loans and There has also been a heavy demand for debentures of v a r i
enterprises. The Messrs. Rothschilds received applications ous industrial enterprises and for bonds of American railway
early in the week for shares in the Naval Construction and companies. The stock markets in other directions have been
Armaments Company, an enterprise for building ships of war alm ost stagnant.
k
THE CHRONICLE.
310
In gas securities there Has been a development of weakness
on a revival of the electric lighting scare, a project having
been put forward for lighting the City of London by elec"
tricity, though the City Fathers in their senile wisdom have
thought fit to shelve the matter for the time being, much to
.the displeasure of those who^ had hoped to secure the con"
tracts.
The rates for money have been as follows:
3
s
Interest allowed
fo r deposits by
Open m arket rates.
Trade Bids.
Disc’t H ’se.
J o in t
A t 7 io 14
Stock
Four
S
ix
Three
S
ix
Three Four
Months Months Months Months Months Months Banks. Call. Bays.
VA 116-U6
116
Ja n . SO 1 ” l%<& — m ad - 2 a — 2)4® 3 214®3 214®3
VA U6-1M
116
“ 27 3 1)6® 196 156® - 2 ® — 2 @216 2140216 214@3
U4
116 116
2
@3
2
@3
116
Feb. 4 3 1%<ai?6 156® - 156® - 2 @3
1 114-U4
214@216
116
2
©214
1?4@2
2
@
“ 10 8 1%®196 156® —
1 114-U4
1
« 17 2‘A 196® l% 156® — 2 a —2 @216 2J4@2!6 2M@294
1
116 154-154
“ 24 2)6 1)6® 2 2 ® —i2 a —214@216 2ü@2U 216@3
London
B a n k Bids.
it
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.,
compared w ith the last three years :
Circulation, excluding 7-day and
1888.
1887.
1886.
£
£
£
22,978,875
10,585,914
22,566,661
16,260,774
19,449,766
15,597,959
22,376,834
465^ P. o.
216 P- o.
102 5-16
Consols.............................................
Clearing-House return.................... 128,127,000
28,245,785
7,937,006
22,965,824
13,129,782
20,347,222
15,581,058
23,076,843
6016 P. O.
4 p. c.
1011-16
105,759,000
1885.
23,418,840
10,783,706
24,404,754
14,051,801
22,749,458
16,549,493
24,2*8,383
47% P- ' •
4 p. c
98 9-16
97,125,000
The Bank rate of discount and open market rates at the
ohief Continental cities now and for the previous three weekg
have been as follows:
Bates o f
Interest a t
Feb. 24.
Feb. 17.
Paris..................
Berlin.................
Frankfort..........
Hamburg...........
Amsterdam......
Brussels.............
Madrid..........
Vienna...............
St. Petersburg..
Copenhagen......
216
216
3
116
8
196
3
156
216
216
216
256
4
4
4
316
ei4@ei6
5
8
3
2)6
216
3
156
3
154
3
116
2)6
216
3
296
4
4
4
316
5
6 @6)4
3
3
Feb. 3.
Feb. 10.
B a n k Open B a n k Open B a n k
Bate. Market B ute. Market Bate.
too early, though there has been a great loss of sheep through
snow.
Dornbusch’s list reports that the imports of wheat and
flour, the latter calculated as wheat at 70 per cent, from the
1st September to the 18th February this year—24 weeks—has
been approximately 8,540,000 quarters, against 8,277,000 quar.
ters and 7,796,000 quarters. The home wheat marketed has
been 4,664,000 quarters, against 3,650,000 quarters and
4,628,000 quarters in the corresponding periods of the
two previous seasons. Slightly higher prices have ruled and
a good deal of business has been arranged at 6d. to 9d.
advance on the week. The Gazette average price for the
week ended Saturday, February 18, showed a fall of 4d. at
30s. Id. per quarter, while the price of barley stood at 29s. lid .
and of oats at 15s. 9d. per quarter. Returns respecting the
Russian production of wheat have been issued, showing the
crop of 1887 to have been just 32 million quarters, or 8 mil
lion quarters more than in 1886, a gain of 33 per cent. It is
reported that Russia has very large supplies still awaiting
shipment and likely to come forward as soon as navigation is
opened. Mark Lane maize has been rather weak, the quota
tion being 3d. lower than last week, and the Liverpool price
s quoted at 4s. 9J£d. per hundred lbs.
£
23,441,560
7,690,169
23,170,259
13,769,685
19,952,741
15,300,110
22,991,670
4914 P< c
2 p. c.
101 5-16
96,603,000
Open B ank
Open
Market Bate. M arket
3
3
3
3
216
3)6
4
4
5
3
3
216
3
116
3
154
3
116
a16
216
296
316
4
4
4
3)6
6 @6)4
5
3
3
296
116
154
156
2)4
254
4
316
5@0
3
[VO L X L V L
E n g lia b
F in a n c ia l
f l a r k e i « - H e r C a b le .
The daily closing quotations for securities, &c., at London,
are reported by cable as follows for the week ending March 9.
London.
Sat.
Mon.
Silver, per oz................ d .
Consols for m oney..........
Consols for account........
Fr’ch rentes (in Paris) fr.
U. 8. 4*28 of 1891............
U. 8. 4 s of 1907...............
Canadian Pacific.............
Chic. MU. & S t. P a u l__
Erie common stock ........
Illinois Central................
P e n n sy lv a n ia .................
Philadelphia & Reading.
New York Central...........
43%
1 0 2 i16
1023xe
82-4212
108%
128
5818
7 8 78
26
1181s
5538
32%
1095s
4338
lOUBifl
1023, ß
82-45
1081a
128
575s
77%
25%
118
55 %
32%
109
Tues.
Wed.
433s
43%
10113, « 10115,8
1021x8 102%
82-62% 82-40
108% 108%
128
128
575s
57%
783s
78
25%
24%
118
118
55%
55%
31%
31%
109
108%
Thurs.
F ri.
43%
IOIIBib
102%
82-47%
108%
128
573s
78%
24%
117%
55
315g
108%
43%
1023,8
1027,6
82-50
108%
128
57%
78%
24%
117%
55
31%
108%
©otmtuerciaX and 2$U sceIIatuous % tvas
N ational B anks .—The following national banks have been
organized since last advices :
3.850—
The F irst National Bank of Beaver, Pa. Capital, $50,000. E. B*
Daugherty, President; John M. Buchanan, Cashier.
3.851—The First National Bank of Prinevijle, Ore. Capital, $50,000.
John Sommerville, President; T. M. Baldwin, Cashier.
The corporate existen ce of The Union Stock Yard National Bank of
Chicago, located in the tow n of Lake, ILL (No. 1,678), expired b y limitar
tion Feb. 2 9 ,1 8 8 8 .
The national hanking association known as The Seventh Ward Na
tional Bank of N ew York, and located in the City of N ew York, N. Y.,
has changed its title to The Seventh National Bank of New York. Cer
tificate authorizing change dated March 1 ,1 8 8 8 .
Changes in L egal T enders and N ational B ank N otes to
Messrs. Pixley & Abell write as follows on the state of the
bullion market:
March 1.—The Comptroller of the Currency has furnished
Gold—The demand for the Continent has nearly entirely ceased, and us the following, showing the amounts of national bank notes
any arrivals are likely to find their w ay into the Bank of England. The February 1, together with the amounts outstanding March
m ovem ents at the Bank of England are £125 .0 0 0 bought and £ 51,000 1, and the increase or decrease during the month; also the
sold. Arrivals: £ 2 3 ,0 0 0 from West Indies, £ 1 4 0,000 from N ew Zeal
changes in legal tenders held for the redemption of bank
and £ 1 5 6 ,0 0 0 from Australia—£319,000.
Silver remained steady at 44d., until the beginning of this week, when, notes up to March 1:
w ith harder exchange rates from India, the quotation rose to 44i-| ad.
The price to-day is again 44d. Imports: West Indies, £8,000; Chili,
£40,000; New York, £6 4 ,0 0 0 —£112,000. Exports: £216,498 to India.
M exican D ollars.—There are no changes to report, and arrivals have
m ostly been melted. £ 3 7 ,0 0 0 came from the W est Indies and £21,453
have been sent to the Straits.
The quotations for bullion are reported as follows :
GOLD.
London Standard.
Feb. 23. Feb. 16.
8.
d.
Bar gold, fine....os. 77 9
Bar gold, contain’g
20 dwts silver..oz. 77 10
Bpan.doubloons..oz.
8. d.
77 9
77 10
SILV ER .
London Standard.
Bar silver.......... oz.
Bar silver, containing 5grs. gold. .oz.
Feb. 23.
Feb. 16.
d.
44
a.
44
4496
44 7-16
44J6
47 7-10
Mexican dols... .oz.
Spanish copper mining shares have given way severely in
price. A t the mid-monthly settlement Rio Tinto shares made
up at 21 and the price has since been as low as ¥1% per £10
share, notwithstanding that the price of copper has advanced
within the last week or two from below £75 per ton to over
£79. The suspicion exists that Paris operators have been sup
porting the price of the metal in order to get out of their
holdings of Spanish copper shares, and this is rather borne
out by the fact that the statistical position of copper is not
nearly so strong as it was at the close of last year, stocks
having been added to materially as a result of increased pro
duction and shrinkage and consumption.
The weather during the week has been unusually severe
with local snowfalls, from which London has thus far been
happily free. In the agricultural districts the wintry weather
is welcome since it checks the tendency of the crops to develop
National B an k Notes—
Amount outstanding February 1, 1888
Amount issued during Februai y .........
Amount retired during February...........
$1,889,790
5,015,099
$265,632,848
3,125,309
$262,507,539*
Amount outstanding March 1,1888*
Legal Tender Notes—
Amount on deposit to redeem national bank
notes February 1 ,1 8 8 8 ...................................
Amount deposited during February.............. i
Amount re-issued & b’nk notes retir’d in Feb.
$2,4 77,490
5,105,099
$101,799,643.
2,527,609
Amount on deposit to redeem national bank
$99,272,034
notes March 1 ,1 8 8 8 ......................................
•Circulation of national gold banks, not included above, $220,327.
According to the above, the amount of legal tenders on
deposit March 1 with the Treasurer of the United States to*
redeem national bank notes was $99,272,034. The portion of
this deposit made (1) by banks becoming insolvent, (2) by
banks going into voluntary liquidation, and (3) by banks re
ducing or retiring their circulation, was as follows on the first
of each of the last five months :
Deposits by—
Nov. 1.
$
958,902
Insolv’t hks.
Liquid’g bks. 7,792,493
Rea’c’g uudr
act of ’74.* 93,834,812
Dec. 1.
$
879,949
7,536,390
Jan . 1.
$
851,032
7,443,086
Feb. 1.
$
815,868
7,323,109
March 1.
$
1,195,548
7 ,1 2 5 ,5 9 $
93,369,883 94,668,392 93,635,606 90,950,890
Total......... 102586207 101,785.322 102962510 101799643 9 9 ,¿ 7 2 ,0 3 4
* Act of June 20, 1874, and J u ly 12, 1882.
Coinage by U nited States Mints .— The following state
ment, kindly furnished us by the Director of the Mint, shows
the coinage at the Mints of the United States during the month
of February and the two month s of 1888.
March
Two m onths o f 1888.
F ebruary.
D enom ination.
D oable eag les..
E a g les.................
H alf eagles.......
Three d ollars...
uarter eagles
ollars.............. .
Value.
Pieces.
Value.
Pieces.
67.000
49.000
82.000
$
1,340,000
490.000
410.000
139.000
170.000
194.000
.........
.........
.........
S
9
2.780.000
1.700.000
970,000
198,000
2,240,000
503,000
.........
5,450,000
2,700,000
2,700,000
5,400,000
5,400,000
615,654
61,565
2,700,000
2,700,000
6,015,651
5,461,565
119,475
Total g o ld .
Standard d o lla rs...
H alf d o lla rs.............
uarter dollars —
lin e s ........................
S
Total sliver.
P iv e c e n ts..
Three cents.
One c e n t ....
Total m in o r . . . .
955,500
47,775
2,389,500
3,945,500
39,455
9,443,000
94,430
4,901,000
87,230
11,832,500
213,905
7,799,000 1 5,027,230 18,351,154 11,125,470
Total c o in a g e...
B onds H eld by N ational B anks .—The following interest
ing statement, furnished by the Comptroller of the Currency,
shows the amount of each class of bonds held against national
bank circulation and to secure public moneys in national bank
depositaries on March. 1. We gave the statement for Feb. 1
in Chronicle of Feb. 4, page 157, and by referring to that
the changes made during the month can be seen.
TT. S. Bonds H eld March 1 ,1 8 8 8 , to Secure—
D escription o f Bonds.
Public Deposits
in B anks.
B an k
Circulation.
Total H eld.
9s, A ct Ju ly 1 2 ,1 8 8 2 ....
Currency 6 s.......................
4*3 per cen ts......................
4 per cen ts.........................
$245,000
901,000
15.678.500
40.378.500
$131,500
3,131,000
69,343,050
109,603,650
$376,500
4,032,000
85,021,550
149,982,150
T o ta l............................
$67,203,000
$182,209.200
$239,412,200
I mports and E xports for the Week .—The imports of last
week, compared w ith those of the preceding week, show a
decrease in dry goods and a increase in general merchandise.
The total imports were $12,059,665, against $10,297,307 the pre
ceding week and $9,778,715 two weeks previous. The exports
for the week ended March 6 amounted $6,069,307, against
$6,454,232 last week and $5,472,428 two weeks previous. The
following are the imports at New York for the week end
ing (for dry goods) March 1 and for the week ending (for
general merchandise) March 2; also, total since the beginning
of the first week in January:
F O R E IG N IM P O R T S A T N E W Y O R K .
D ry G oods.........
Gen’l mer’d ise..
$2,199,038
5,892,414
$3,084,789
5,140,692
$8,091,452
$8,225,481
Of the above imports for the week in _1888, $1,308 were
.merican gold coin and $744 American silver coin. Of the
sports during the same time $24,500 were American gold
oin.
A uction Sales.—The following were sold this week at
Shares.
Germania B ank............ 222*3
Cen.& S.Amer. Tel. Co. 99*a
American Surety Co .. 111*2
National Fire In s C o.. 75
F lin t & Pere Marq.RR.,
com m on ....................... 25*8
15 Char. Col. & Aug. RR.. 26
50 So. Pittsburg. City Co.$510
30 Virginia Mid. Ry. C o.. 25
126 Oxford Iron & N ail Co.$131
5 Georgia Pao. RR. Co.. 17
10 Sloss Iron & Steel Co.$20 p.s.
318 Savannah & Memphis
RR. of A l a .................. $11
1 ,0 0 0 Brunswick Land C o ..$220
126 Warsaw Salt C o . ........ 20
12 Ocean Nav. & P ier Co. 30
600 Cent. Arizona Min. Co. $32
500 Climax Mining Co....... $5
50 K essler Mining Co....... $1
200 Breece Mining Co___ $33
100 Bald Mountain Min.Co. $4
60 Home Insurance C o ... 126
10 Park Fire Insur’nceCo. 59*3
1 RightN.Y. Society Lib.,
dues paid to May 1,’88 $7
10 N. Y. Fire Ins. Co......... 76
2662s Mech. & Traders’ Bank. 172
200 Wash. & Georget’n RR. 400*3
70,000 Minnesota & Dakota
Land & Inv. Co . .. 5c. p. s.
940 Terre H.&Ind’ap’s RR. 80
200 Mineral Range RR. Co. 19
10 Nat. Bk. of Commere. 167*3
33 Continental Nat. Bank. 126
4 Clinton Fire Ins. Co—
92*3
53 Knickerbocker Ice C o.. 101*4
20 Equit’ble Gas-Light Co.
of N. Y................... n o
20 Globe Fire Ins. C o ---- 112*3
50 Peter Cooper Ins. Co.. 152
40 5th Ave. Transp’t’nCo. 65
29 2d A venue RR. Co . . . 111*4
50 Equitable Gas-Light &
Fuel Co. of U tica....... 82*3
115 American L’n & Tr. Co. 100
10 Real E state E xch’ge &
Auction Room, lim it’d 114
$9,450 Com. Mut. Ins. Co.,scp 61*4
25
10
10
50
20
$3,440,682
7,141,343
Since J a n . 1.
Dry Goods.........
Gen’l mer’d ise ..
$21,288,622 $24,565,378 $27,959,368 $29,830,243
58,131,417
53,694,314
51,537,924
42,654,659
Total 9 w eek s..
$63,943,281 $76,103,302 $81,653,682 $87,961,660
&
CANTON
R A IL R O A D
1ST M O R TG A G E 3 0 -Y E A R 5 P E R
$3,533,262
8,526,403
$10,582,025 $12,059,665
Bonds.
$24,000 Georgia Pao. Ry. Co.
1st, 6s, 1 9 2 2 ...........................108
$10,000 Georgia Pao. Ry. Co.
2d, 6s, incom e. 1923 ......... 5 0 78
$5,400 Georgia Pao. R y. Co.
2d, incom e, coup, scrip, of
Oct., ’85, April and Oot.,’86,
and April and Oct., ’8 7 ........ 4 5 7ij
$5,000 Western No. Carolina
Ry. Co. 1st, 6s, 1 9 1 4 ........... 8 4
$13,000 Sodus B ay & So. RR.
Co. 1st, 5s, 192 4 .................... 98
$5,000 Virginia State 3s, fd.
debt, 1 9 3 2 ............................... 66*a
$10,000 Chari. Col. & Aug.
RR. Co. 1st, 7s, 189 5 ......... l l O ^
$15,000 A tlanta & Char. Air
Line RR. 1st, 7s, pref., *97. 1155s
$8,000 City of Mobile, Ala.,
4-5s, 1906 . ........................... 80
$2,000 N ew Orleans Jack. &]
Gt. No. RR. 2d ser. constr.*
M. 8s, 189 0 .............................. 110*4
$6,000 Oxford Iron & N ail
Co., 1st, 6s, 1 9 1 3 .................. 50
$2,000 Oxford Iron & N ail
Co., 6s, trust M., 1 9 0 5 ......... 25
$5,000 New Orleans Pao. RR.
land gr. sinking fd., 1 9 1 1 .. 10
$10,000 Selma Rome & Dalt.
RR., 8s, incom e, 1885, Jan.,
1876, coupons on. .*............. $13
$8,000 Cin. Wash. & Balt. RR.
Co., 1st, 5s, income, 1 9 3 1 .. 16*a
$10,000 Arkansas State, 7s,
3%
levee, 1901; July, ’72, op.on
$8,000 Broadway & 7th A ve.
RR. Co., 5s, 1 9 1 4 ....... 102% & int,
$2,000 Des Moines & Fort D.
R R ., 1st, deferred, 1 9 0 5 ... 5 1 Big
$12,000 Mineral Range RR.
Co., 4s, 1 9 3 6 ......... . ........... 34
$10,000 Cin. Richm. & Chic.
RR. Co., 2d, 7s, 1 8 8 9 ... 100 & int.
$180,000 D ayton & Chic. RR.
4
Co., 5s, 1 9 2 6 .............5...........
$60,000 B ellef’ine & Ind.RR.,
1st, 7s, ’97, ’98, ’9 9 ..1 1 4 % to ll6 ’78
$aixlütiô aixd JfiwaaciaX.
CLEVELAND
1888.
1887.
1886.
1885.
For Week.
311
THE CHRONICLE
10, 1888.J
CO ,
CENT BONDS.
TOTAL ISSUE, $2,000,000.
BATE,
$121, 500
PER.
M ILE.
VALUE OF PROPERTY COVERED, $8,000,000
P ric e , 92*3 and .Interest.
FOR SALE BY
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending March 6, 1888, and from January 1 to date:
C O F F IN & S T A N T O N , B a n k e r s ,
11 WALL ST., NEW YORK.
E X P O R T S FR O M N E W Y O R K .
$6,586,972
53,241,368
Total 9 w eek s..
$59,828,340
1888.
1887.
1886.
1885.
For the w eek ....
Prev. reported..
$6,254,223
44,441,638
$50,695,861
$8,083,993
44,543,119
$52,627,112
$6,069,307
47,742,354
$53,811,661
EUREKA
S P R IN G S
R A IL W A Y
COM PANY.
F IR S T M O R T G A G E 6 P E R C EN T 5 0 -Y E A R G O LD B O N D S .
IN T E R E S T P A Y A B L E F E B . 1 A N D A U G . 1, A T M E R C A N T IL E
The following table shows the exports and imports of specie
T R U S T C O ., T R U S T E E , N E W Y O R K .
at the port of New York for the week ending March 3, and
THE ROAD RUNS, IN CONNECTION WITH THE ST. LOUIS &
since January 1, 1888, and for the corresponding periods in
SAN FRANCISCO RAILWAY COMPANY, FROM SELIGMAN, MO.,
1887 and 1886.
TO EUREK A SPRINGS, ARK., AND IS STANDARD GAUGE,
STEEL RAILS, AND IS BALLASTED THROUGHOUT WITH BROKEN
STONE AND GRAVEL. The com pany has a 50-Y EA R contract w ith
Since J a n .l,
Week.
the ST. LOUIS & SAN FRANCISCO RAILWAY COMPANY for th e
$1,768 exchange of passenger and freight traffic.
735,010
314,108
The Eureka Springs R ailw ay w as constructed in 1882, and from the
174,729
20
44,028 tim e of its com pletion about January 1 ,1 8 8 3 , up to January 1 ,1 8 8 7 , it
4,483 paid 6 per cent on its first m ortgage bonds and an average of about 4*a
1,500
53,772 per cent on its incom e bonds. F O R 1887 T H E C O M P A N Y
75,257
5,460
E A R N E D A N D P A I D 6 P E R C E N T ON IT S F I R S T M O R T
$321,088 $1,089,047 G A G E B O N D S, 6 P E R C E N T ON IT S IN C O M E R O N D S ,
3,326,207
50,443
A N D S H O W S A L S D R P L U S O F 2 P E R C E N T ON T H E
1,837,380
126,442
STOCK.
Im ports.
A through line of Pullm an sleepers runs daily between St. Louis &
Since J a n .l Eureka Springs.
Week.
We offer a lim ited amount of first m ortgage bonds at 102*3 and accrued
q»i 9 interest, subject to sale and advance in price w ithout notice. We recom
$
101,904 mend this bond upon its m erits as the m ost desirable investm ent secur
97,465
9,013
66
73,376 ity, and believe that it is the best bond selling at any such price in th e
10,956
5,667 New York market.
2,633
7,361
These bonds are listed on the New York Stock E xchange.
195,906
6,448
E X PO R T S AN D IM P O R T S O F S P E C IE AT N E W Y O R K ._______ _____
Im ports.
Exports.
Gold.
Great Britain..............
F rance..........................
Germany............- ........
W est In d ies.................
M exico..........................
South America............
A ll other countries...
Total 1888............
Total 1887............
Total 1886............
Silver.
Week.
Since J a n .l.
363,500
$45,261
5,000
1,248
2,311,988
10,000
50Ó
83,019
17,638
$ .........
$374,000 $2,464,154
2,950,970
141,084
1,712,214
9,341,731
Exports.
Week.
¡since Jan . 1.
Great B ritain..............
France..........................
Germany......................
W est In d ies.................
M exico..........................
South America..........
A ll other countries...
$172.200 $1,999,130
85,100
7,500
1,90S
51,553
Total 1888............
Total 1887............
Total 1 8 8 6 ...
$185,799 $2,270,708
1,694,625
201,260
2,874,241
258,623
6,099
24',567
108,458
$117,568
64,912
1,98C
$393,239
357,563
178.709
GRISWOLD & GILLETT,
3 WALL ST., NEW YORK.
THE CHRONICLE.
312
% vm ktx6 r iGSfcsette.
DIVIDENDS«
The follow ing dividends have recently been announced :
N am e o f Company.
R a ilro a d s .
Chic. & Nortbweat’n pref. (quar.)
Connecticut River (quar.)..............
Keokuk jfe-Western............... .
Maine Central . ............................
N ew Castle * B eaver (qu ar.).—
N ew York & Harlem pref & com.
St. Louis Alton & Terre H. p ref..
Southw est P e n n s y lv a n ia .............
•Sunbury ,& L ew lstow n . . . . . . . . . . . .
When
Per
Cent. Payable.
1%
2
X
3
2%
2
1%
5
3
Mar.
April
April
Feb.
April
April
April
Mar.
April
26
2
2
15
2
2
10
30
2
Books Closed,
(D ays inclusive.)
Mar.
Mar.
Mar.
Fob.
Mar.
Mar.
Mar.
13
16
9
2
21
16
27
to Mar. 27
t o -------to April 2
to Feb 14
to April 2
to April 2
to April 10
W A L L STREET, F R ID A Y , March 9, 1888—5 P. M.
The Money Market and Financial Situation.—The
■financial markets of the world have received the news of the
Kaiser’s death without being seriously affected. So perfect
are the government arrangements in Germany now, and so
little cause does there seem to us for any war in Europe,
that even the Produce Exchange, which is usually the most
sensitive to warlike threatenings, has failed to respond with
any material advance in prices.
At home we can hardly say that affairs have greatly im
proved, except that the situation has developed nothing new
of a character to interfere with stock operations, and so far as
Congress is concerned the drift of their proposed legislation is
all in the direction of easy money. The C. B. & Q. engineer’s
strike continues, and much talk is heard of its spreading to
other roads; but up to this time the difficulty is practically
limited to the Burlington & Quincy and its connections.
In railroad earnings the next two months will show more
than January and February, which are at best only months of
severe winter weather when expenses often run up to or exceed
the whole gross earnings. Last year we had the Inter-State
Commerce law going into effect in" April, which caused a
crowding of business on some roads in March, but this soon
equalized itself, so that a comparison with the two months of
March and April, 1887, will show tolerably well how our
-Tfl.il ro a d business is running as compared with the heavy busi. ness of last year.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 2 to 4 per cent,
a n d to-day the rates were 2@3 percent. Prime commercial
paper is quoted at 5@5£ percent.
The Bank of England weekly statement on Thursday showed
a gain in specie of £259,000, and the percentage of reserve to
liabilities was 45*42, against 44*90 last week; the discount
rate remains unchanged at 2! per cent. The Bank of France
lost 2,725,000 francs in gold and 4,475,000 francs in silver.
The New York Clearing House banks in their statement of
.March 3 showed a decrease in surplus reserve of $2,455,725,
the total surplus being $12,744,700, against $15,200,425 the
previous week.
The following table shows the changes from the previous
week and a comparison with the two preceding years in the
averages of the New York Clearing House banks:
( Y ol.
XL VI.
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buyin g!
premium; selling 1 premium; Charleston, buying J premium;
selling 1 premium; New Orleans,commercial, 50@75c. premium;
bank, par; St. Louis, 50c. premium; Chicago, par.
The rates of leading bankers are as follow s:
Sixty Days.
March 9.
Prime bankers’ sterling bills on London..
Prime com mercial................ ..................... .
Documentary commercial............................
Paris (fr a n c s).................................................
Amsterdam (guilders)....... ...........................
Frankfort or Bremen (reiehm arks)...........
4
4
4
5
86 @4
84%®4
84% »4
20 » 5
403i«@
95% ®
D em and.
861« 4 88 @4 881«
84%
8i%
19% 5 18%@5 18ia
40% 40^8
0 5 ^ 8^ 95^
9538
Coins.—The following are quotations in gold for various coins:
Sovereigns..............$4 35
Napoleons.............. 3 85
X X R eich m ark s.. 4 74
25 P e s e t a s ....___ 4 80
Span’ll Doubloons.15 60
Mex. D ou b loon s..15 55
F in e gold b a r s .... pax
@$4 88
@ 3 89
@ 4 80
@ 4 90
@15 80
@15 75
@%prem.
Fine silver b ars.. — 9 4 78@
95%
F ive fran cs...........— 93 @ — 95
M exican d ollars.. — 74*2® — 75%
Do uncommerc’l — 74 @ ------Peruvian sols....... — 74 @ — 7 5
English silver___ 4 82 @ 4 8 6
U. S. trade dollars — 73 @ . . . . . .
United States Bonds.—Government bonds have been quite
dull, and the market has been featureless. Prices have re
mained steady, and are little, if any, changed from a week ago.
On the 3d inst. $15,000 of currency 6s of 1897 sold at 124!.
The closing prices at the N. Y. Board have been as follow s:
Interest Mar.
Periods
3.
M ar.
5
Mar.
6.
Mar.
Mar.
8.
4%s, 1 8 9 1 ............ reg. Q.-Mar. *106% *106% *106% *106% *106%
4%s, 1 8 9 1 ......... coup. Q.-Mar. *106% *106% *106% 106% *106%
4s, 190 7 ................ reg. Q.-Jan. *124% *124% *124% *124% 124%
4s, 1907.............coup. Q.-Jan. *125% 125% '125% 125% *125%
6s, cur’c y ,’9 5 ___reg. J. & J. *120 *120 *120 ‘ 120 *120
6s, cur’e y ,’9 6 ....r e g . J. & J. *122 *122 *122 *122 *122
6s, cur’ey, ’9 7 ___reg. J. & J. 124% *124 *124 *124 *124
6s, eur’oy, ’9 8 __ reg. J. & J. *127 *127 *127 *127 *127
6s, cur’e y ,’9 9 ___reg. J. & J *129% 1*129 1*124 *129% *129
* This is the price bid at the morning board ; no sale w as made.
M ar.
9.
*106%
106%
124%
125%
*120
*122
*124
*126
*129
State and Railroad Bonds.—State bonds have been a little
more active on certain days than for some time past, though
the business has not been at all brisk. Virginia 6s deferred
bonds have attracted most attention, though even these have
not been specially active.
The market for railroad bonds has not shown much anima
tion. The demand is not very brisk, and prices have been
irregular and sometimes unsettled, in sympathy with the stock
market, and it is noticed that bonds are now more sensitive
to the influence of stock fluctuations than they were some
weeks ago. The prices of the more speculative classes have
been rather weak. Erie 2ds have been about the most active;
Chesapeake & Ohio bonds have been irregular, and are selling
lower compared with a week ago. Other bonds showing some
weakness have been: Denver & Rio Grande 4s, Atlantic &
Pacific incomes, M. K. & T. 5s and 6s, Columbus & HockiDg
5s, Texas & Pacific incomes and Rios.
R ailroad and M iscellaneous Stocks.—The stock market
has developed several features during the past week, and busi
ness on some days has been more active than of late. The
increased activity was caused by rather free selling, and was
consequently accompanied by considerable weakness in most
stocks, particularly pronounced in a few leaders. The bears
have been more aggressive, and have made demonstrations
against the market, meeting with some success, by putting
out moderate lines of shorts. The London operations have
been a feature at times, sales from that market having been
important enough early in the week to help the declining
tendency. The greatest activity occurred on Monday, when
something like old-time life was apparent, and prices were
weak most of the day, recovering only partially in the after
noon. Since then the market has been alternately weak and
strong, though the declines have been more important than
the recoveries, and the prices of nearly all leading stocks are
Diffr’nc’s fr'm
1887.
1886.
1888.
March 5. March 6., lower than they have previously been this year, the grangers,
March 3. Prev. Week.
however, being an exception to this rule.
$
$
$
$
Among the influences of the week, working against prices,
Loans and dise’ts. 367,500.300 Ino. 81A 700 369,487,600 354.539,000
g p e c ie .................... 75. 09,700 Deo.1,701,400 85,278,200 89.732,600 have been the fears of an extension of the Burlington strike to
70,000
7,617,700
7.ÖO 1,700 Deo.
Circulation............
7,882,500 other Western lines, threats of that nature having been made
N et d ep osits.......... 377,540,200 Dee. 2,917,900 385,325.800 39i,2H 9,r00
Legal tenders....... 31.822.300 Deo. 1,483,800 20,141,300 31,665,700 by the leaders of the strike. The apprehension of a decline in
L egal reserve....... 94.387.300 Deo. 729,475 96,331,450 98.324.900 coal prices as a result of the resumption of work in the Schuyl
R eserve h eld ......... 107,132,000 Dec.3,18%200 105,419,500 121,3 »8,300 kill region has caused an unsettled feeling in the coal stocks,
9,088,050 23,073,400 and Lackawanna and Reading have been the most conspicuous
Burplus.................... 12,744,700 D ec.2,455,725
stocks in the speculation, and have led the downward course of
E xch an ge.- Sterling exchange has been very dull, and the the market. The news in regard to the illness of Emperor
increased demand noticed last week has not been continued. William during the latter half of the week also caused more or
There was, at times, some slight increase in the supply of com less uneasiness abroad, and some selling of stocks, though
mercial bills, which, with the prevailing dulness, caused a lit when his death was reported on Thursday it had little effect
tle weakness in actual rates, though on the whole the market here.
As intimated above, the grangers have been better held than
has been pretty firm. There is, compared with last Friday, no
quotable change in rates, and posted rates remain at 4 86 @86$ most other leading stocks, the pool in St. Paul, it is said,
giving that stock strong support. On Tuesday the market was
and 4 88@88i.
To-day the rates on actual business were as follows, viz. : treated to a little excitement in the way of a flurry in oil, the
Bankers’ 60 days’ sterling, 4 85£@4 85£; demand, 4 87^@4 87|. certificates of which were recently listed. The price of
Cables, 4 8 7 f^ 4 88. Commercial bills were 4 841@4 84|. certificates was strong, and advanced to $1, regular way, and
Continental bills were: Francs, 5 20@5 20f and 5 17^(®5 18J-; sales were made for cash under the rule as high as $1 45.
To-day, Friday, there was nothing special, and the tone wa®
.reichmarka, 95J@95$ and 95!@95$; guilders, 40$ @40! and
* rather weak, particularly on the trunk line stocks.
40|@ 40i.
M arcii
10 ,
THE CBBON1CLF
1888]
313
STOCKS—PRICES AT N .T. STOCK EXCHANGE FOR WEEK ENDING M A R C H 9 , AND SINCE JAN. 1, 1888.
Sales
H IGHEST AND LOWEST PRICES.
STOCKS.
A c tiv e R t t . S to c k s .
A tlantic & P acific.................
Canadian Pacific...................
Canada Southern..................
Central of New Jersey.......
Central P acific......................
Chesapeake & Ohio...............
Do
1st p ref.
Do
2d p ref..
Chicago Burlington & Quincy.
Chicago Milwaukee & St. Paul,
Do
pref.
Chicago & N orthwestern.........
Do
pref.
Chicago Rock Island & Pacific,
Chicago St. Louis & Pittsburg.
Do
pref.
Chicago St. P aul Min. & Om.
Do
pref.
C leveland Col. Cin.& Indianap.
Columbus H ocking Yal. &Tol
Delaware Lackawanna & West
D enver & Rio G., assessm ’t pd .
Do
pref.
E a st Tennessee Va.*& Ga. R’y.
Do
1st pref.
Do
2d p ref..
E v a n sv ille & Terre H aute.......
P ort Worth & D enver City___
Green Bay Winona & St. P aul.
Illinois Central.......................
Ind. Bloom. & W est..................
K ingston & Pem broke......... .
Lake E rie & W estern................
Do
pref.
Lake Shore & Mich. Southern.
L ong Islan d ................................
L ouisville & N ashville.............
Louis. N ew Alb. & C h icago...
M anhattan Elevated, co n so l..
Memphis & Charleston.............
Michigan Central.......................
Mil. Lako Shore & W est.
Do
pref.
M inneapolis & St. Louis.
Do
pref.
Missouri Kansas & Texas
Missouri P acific................
Mobile & Ohio....................
Saturday,
March 3.
9
*56
5 1 78
80*2
29
2%
4%
9
57
52%
81
29
2%
4%
Monday,
M arch 5.
9*8
9*8
51*8 5 1 78
79
80*4
27% 2734
2 % . 2%
5
5
*334 .4*2 3% 3%
124 124*2
124 % 125
75% 76%
76% 77
115*4 115*4 115*2 115*2
107*4 108
106% 107%
1 4 2 143*2 143*2 143*2
112*4 112*4 111*2 112
*12
14
*12 *2 14
*33
36
*33
35*2
37
37
34*2 36
107*2 108*2
*49
*49
51
50
*21*2 23*2 21
21*4
129*8 1295s 127*8 129
*19*2 20
39*2 19*2
*50*4 51
49*2 4934
10
10
9*4 9*2
62
61*2 61*2 *59
21*4 21*4 20 % 21
*86
*86
88
87*2
43
43
41*2 42*2
*8
9
8*2
8*2
114 114
116 116
*12
13
11*2 11 *2'
2958 29% 29% 29*2
*14% 15*2 14*4 14%
*4434 45*2 44
44*2
9058 91*4 89*2 90%
*90
92
*90
92
5 4 78 55 7s 5 3 78 54%
*30
40
*35
40
90*8 90*8 89*8 90
7 7 34
77
72
*65
97
97% 97% 97
7
*6
6 % *6
*12
*12
15
14*2
14
14*4 13*2 13%
84
83% 84*8 83
105s
*10 % 11 % 10
75
76*2
76*2 77
106% 106% 106 106*8
15
*14% 15*4 15
*67
67*4 66*2 67
29*2 29*2 29*2 29*2
25*8 25*2 243s 25
57*2 57*2 56*2 56*2
36*2 37*8 35% 3 6 78
15*2 155s
15% 16
8*2 85s
8% 8%
32
*30
29*4 30
16
16
*16*2 17
42 % 43% 42
42*2
20*2 20 % 205s 205a
44% 44% 43 7s 44
223s
22*2 22 % 22
20*4 20 % 18% 20
17
17
16*2 17
63*4 64% 6 1 78 63*2
22 % 23*2 21*2 2278
64*2 64*2 63*8 64*2
*84
86
83*2 83*2
325s 32 7s
*33
34
70*2 70% 69% 69 %l
78
79*2
Tuesday.
March 6.
Wednesday, I Thursday,
March 7.
March 8.
Friday,
March 9.
Week,
Shares.
1,240
9*4 9% 1 9% 9%
9*8 9*8
56
56
150
*55% ..
11,895
51*4 52*4 51
51*2 51*4 51%
79
80*2 ! 78*4 79*4 78*4 79% 13,370
494
28*8 28% 27*2. 28
*27*8 28
2 % 2 % *2 *2 .........
2*2
2 % 1,300
659
5
5
*4.^2 5*2
5
5*8
4
153
4
3
3
*3*2.........
125 125*2 ' 124% 125
5,128
124*2 125*8
76
77% j 75% 76*2 76*8 76% 156,770
115 115 1 114% 115
683
106% 107% 1 106% 107
106% 107*4 50,182
84
143*2 143*2 *142 143*4
111 % 111 % 111% 111 % 111*4 111*2
1,877
*1210 14.
*12*2 14
*12*2 13
31
32
34
*32
35
34
500
34*2 34*2
37
4,285
35*2 35% 36
36
36*2 35*4 35*4
105*9.105*0,1 ____
20
49
49
50
516
50*4 50*4 1 50
48
48
21
21
600
21
21*4 . . . . . . . . . . . .
21*8 21*8
127% 128*4 126% 128*2 125% 126% 126% 127*2 188,895
19
19
16
16
720
19
19
*17 .........
49
1,250
49*4 49*2 ! *48
45*2 47
48
48
9*4 9*4
9*4 9*4 *9*4 8 % 1,415
9*4 9%
59
59 1 *59
130
62
61*2 60*2 60*2 *60
20*4 20*4 20*2 21
1,625
*20*2 21
20*4 20*4
*87
88
220
86*2 86*2 86*2 86*2
41*2 41*2 *41% 42% 41% 41% 41
1,100
41
9
*8
9
310
*8 8*8
8*8
114*2 114*2 114*2 114*2*113 115
115 116
518
*11
12
540
12*2
11
11*8 11*2 11*2
12*2
500
*29*4 31 1 *29*4 31
14*8 14*2 *14% 15
1,488
13*4 14
13% 13%
44
1,350
44% 44
44
44*2 44
*43% 44*2
1
36,390
89% 90*4 89*4 90% 89
89*2 88 % 89%
*90
92
326
90% *90*2 92 1
89*2 89*2 90
54% 55% 53% 55*4 53% 54*2 53% 54% ! 63,210
35
500
35
*35
40
*33
40
*35
40
89% 90*2 90
3,158
90*2 89*8 89% 89*2 89%
9*4 9*4
57
57
51*2 51%
79*8 80
28
28
2% 2%
*4*2 5*2
3
3
125 125*4
75% 76%
115 l i b
106% 107%
143 143
11134 112
3,095
77
77*2 77*4 77*4
*......... 71
306
98 *......... 100
100
*6
7
*6
7
6
6
*12
14*2 *12
14*2 *10
14*2
5,665
13% 14*8 13% 14
13*4 13%
83% 84% 83% 84% 26,948
83% 85
600
*9
9
9
9*8 9*8
10*2
2,600
76*2
76*2 77
76*2 76*2 75
4,898
105% 106*2 105% 106
105% 106*4
685
15
15
*14% 15*2 14% 14%
120
67
67
*66*2 67% *66*2 68
500
30
30
30
30
29*2 29*2
23% 25
23*4 23% 22% 23% 82,135
56*4 57*4 55*2 56
55
55*2 2,060
34% 35% 22,936
36
35*« 36% 35
1,880
15% 15% 15
15*2 15*4 15*4
8% 8%
8
8
8*4 8*4 1,165
1,930
29% 29% 28*2 29*2 29
29
400
*16*2 17
*16*2 17
16*4 16*2
9,450
42*8 42*4 42*2
42*2 43*8 42
20 % 20 %
20*2 20 % 1,720
1,887
44*4 44*4 44
44
44*8 44*8
450
*22
22*2
11,860
19
19
19%
19*2
18% 19*4 18% 19*8
1,560
17*4 17*4 17
17
17
17*8 16*4 17
62
63
61% 63% 61*8 62
61% 62*4 405,000
21 % 22 % 22*4 23
22*8 22 % 22*4 22% 64,740
64*4 64% 65% 66*4 64
64*2 64
64*2 5,362
84
84
116
*83
84*2
860
32
32% 33
32
32*2 32*2 30*2 30*2
2,050
69
69*2 70% 68*2 69*2 68
69*8 69
321
111*4 111*4 *111*2 112 % *111*2 11234 111 112
1,485
49
49
49
49
49*2 50
96*9 96*9
275
99
107% 107% 107 107% 104*2 106
1,030
107 107
23% 24*4 23% 24*4 23*2 24
23% 23% 11,470
54% 54*8 54% 61,620
54*4 54% 54*4 55*4 54
12 % 12 % 12 % 13
2,550
12*2 12 %
3,130
23*4 23*4 23*4 23% 23*4 23*4
51% 51
51
51% 50% 50% 50*2 50*2 2,050
77*2 79*2
*65
70
97*2 97*2
*6
7
*12
14*2
13% 14
83% 84%
*9
10*2
*76
78
106% 106%
*14% 15*2
*66*2 67*2
*29
31
24*2 24%
56*2 57*4
36
36%
15*2 15%
8%
8*4
30
30
*16
16*2
42
42%
20*2 20 %
44*4 44%
78
78*2
98
Range Since Jan. 1 ,1 8 8 8 .
Lowest.
9 Mar.
55% Feb.
51 Mar.
75 Jan.
27% Mar.
2% Mar.
4% Feb.
3 Mar.
124 Feb.
74 Jan.
112*2 Jan.
13
31
Jan.
Mar.
34*2 Mar.
105*2 Feb.
48 Mar.
21 Feb.
16
Mar.
45*2 Mar.
9*4 Mar.
59
Mar.
20*4 Mar.
86*2 Mar.
40*8 Jan.
8*8 Mar.
114 Mar,
11 Mar,
27 78 Jan.
13*4 Mar.
44 Jan.
8878 Mar.
89 Jan.
53% Mar.
35 Mar.
85*2 Jan.
52 Jan.
77 Mar.
65 Feb.
97 Feb.
5*2 Jan,
14 Feb.
13*4 Mar.
823s Jan.
9 Mar.
75 Mar.
105% Mar.
1 4 78 Mar.
66*2 Mar.
29*2 Mar.
2238 Mar.
55 Mar.
3434 Mar.
15 Mar.
8 Mar.
28*2 Mar.
15% Jan.
42 Mar.
20*2 Mar.
43% Feb.
22 Mar.
18% Mar.
16*4 Mar.
61*8 Mar.
21*2 Mar.
55 Jan.
82*2 Feb.
30*2 Mar.
68 Mar.
L ll Mar.
49 Mar.
96*2 Mar.
104*2 Mar.
233s Mar.
54 Mar.
12*2 Mar.
23*4 Mar.
4438 Jan.
N ew York Central & Hudson.
N ew York Chic. & St. L o u is...
Do
1 st pref.
Do
2d pref..
N ew York Lake Erie & West’n
Do
pref.
N ew York & N ew England___
N ew York Ontario & W est___
N ew York Susq. & W estern...
Do
pref.
Norfolk & W estern....................
Do
pref.
Northern Pacific.........................
Do
pref.
Ohio & M ississippi....................
Oregon & Trans-Continental..
Peoria Decatur & E van sville.
Philadelphia & R eading.........
Richm ond & W est P ’tTerm inal
Do
pref.
Rom e Watertown & Ogdensb’g
St. Louis & San Francisco.......
Do
pref.
Do
1 st pref. 112*2 112*2 *111 112 £
St. P aul & D uluth.............. ....... *
50
50
Do
pref.
99*2 99*2 99*4 99*2'
St. PaulM inneap. & Manitoba. 109 109
108*4 108*4
24% 24% 23% 243s
T exas & Pacific.............. ...........
U nion P acific..............................
55*8
55*8 55% 54
13
W abash St. L. & Pacific___. . . .
125s 13
13
Do
pref.
24*4 24*4 23*2 24*4
W heeling & Lake E rie.............. *53
50
53
54
M is c e lla n e o u s S to c k s .
Colorado Coal & Iron................
36% 36% 36*4 36*2 36*4 36*4 36*8 37
3,115 34*2 Jan.
35*2 36*4 35% 36
Consolidated Gas Co....... .....' *75*4 75% 75% 75% 73*4 75
1,259 73*4 Mar.
74*4 74*2 73*2 74*4 73*2 74
D elaw are & Hudson Canal___ 107*4 107% 106*4 107
6,609 .03 Jan.
107
L07*8 106*2 107*4 105% 106*2 106*8 106%
Oregon Im provem ent Co.........
46
46
45*4 47
46
1,180 45*4 Jan.
48
*46
48
47*2 48
47
47*2
Oregon Railway & Nav. C o ...
91
91
*90
91
91*8 90
1,587 8878 Mar.
90*2 91
88 % 89
90
90
P acific Mail.................................. 34% 34% 34
34
34
34*4 34
3,885 33*2 Mar.
3434 33*2 33% 33*2 34
Philadelphia Co., Nat. Gas___ 102*2 102*2 *103 104
332 99 Jan.
104 104 I 104 104*4
Pullm an Palace Car Co........... 139 7s 139 7s 139*2 139*2 139 139*2 139 139
140 140 1 140 140
928 ].39 Mar.
W estern Union Telegraph___ 77% 78*4 77*8 77 7s 77% 77% 77*4 78
76*2 77% 76*8 76% 54,960 76*8 Mar.
•
E x p r e ss S to c k s.
A d a m s.......................................... 143 143
144 144 *140 145 *140 145 *140 145
48 1
141*2 142
A m erican ................................... | *107 109
107*2 108 *107 109 *107 109
1101
107% 108
107*2 108
U nited States......... ....................f 73
73
73
73
*72
73
73
72*2 73
72*4 73 1 72*4 72*2!
357
Jan.
W ells, Fargo & Co..................... *130 132
130*2 131
130*4 130*4 *130 132 *130 132 i1 3 0 132
165 1
Jan.
I n a c t iv e S to c k s .
Am erican Tel. & Cable Co....... *72*4 74
*72
73
74
*72
*72
73
70 Jan.
A tchison Top. & Santa F e ....... *97*4 97*2 9 6 78 9 6 78
7 OÔ
95*4 9514'
B o sto n & N. Y. Air Line, pref. *98 100 1 *98 100
99*4 '9914 *98 100
.....................I *98 100
'45¡
Jan.
Chicago & A lton....... ................ 138 138 1 138 138
135 139 1*135 140 *135 140 1 3 5 140
200 1
Jan.
Chicago & East. Illin ois...........
40*2 40*2! 40% 40% *40*2 41
40*2 40*2
260 40*2 Mar.
. Do
pref. *89*2 89% 89*2 89*2
89% *89*2 90
300 89*2 Mar.
1
Chicago & Ind. Coal Railw ay. *40
40
40
500 4 0 Mar.
!
Do
pref. *89*2
91
91
10 91 Mar.
Cincin. Ind. St. Louis & Chic..
735a 73% 72*2 73
74*2 74*2 73% 73% *72
75
600 72*2 Mar.
Cincinnati Wash. & Baltimore.
*3
4
*2 % 3*4
*2 % 3*4
3
3
100
*2*2 2 %
3 Mar.
Do
pref.
4% 4% *5
6
5*4 5%
5*4 5*4
*5
6
4 % Mar.
505
5*2 5*2
Marquette Hough. & On., pref. *85
*85
87
87
*85
*85
87
87
83% Jan.
Morris & E ssex .......
139*2 139*2
139*2 139*2
Jan.
55 1
P itts. Ft. Wayne & C hic..." I!! *153
1 5 3 155
153 155 *153 155 1 5 3 155 1 5 3 155
......... 1
Jan.
Quicksilver Mining Co............. *10
11
10
10
*9
10*2
200
10
Jan.
*9
10*2
Dp
pref. 35
35
35*4 *33
33% 33% *33
35
*30
35
300 33*3 Jan.
Bt. Louis Alt. & Terre H a u te .. *35
*35
38
38
*35
38
*35
38
36 Jan.
South Carolina.....................
*8
914
9
9
*8
9*4 *8
*8
9% *8
7% Jan.
W hitebreast Fuel Co.......
*96% 98
96% 97
500 83*2 Jan.
96% 96% 96% 97
Columbus & Hocking Coal___ *24
24
25*2 23
24% 23
23% 23% 24
23% 23% 23% 1,150 23 Mar.
Tennessee Coal & Ir o n ...
30
30
*29
30*2 29 *2 29*3 30
800 27*4 Jan.
30
*29
80*a
V a r i o u s S t o c k s . & c . (Uni isted.
Amer. Cotton Oil Trust...........
29% 30
29
29=8 29
29% 29
29*2
29
29
4,176
29*8
29*8
P ip e Line Certificates J.............j 92*2 94*8 933a 9 4
93% tlOO
96% 100
94% 96% 94% 95% t84ôç,ooo
*
tt*e price« bid and ashpdj no sale was made at the Board.
t Sold at 145 cash,
} Sales at both Exchanges.
Hi shest,
21 > 10 %Jan. 10
6 62*4 Jan. 3
8 56% Jan. 9
3 81% Feb. 2 5
8 33*2 Jan. 1»
9
5*2 Feb. 4
27 10 Jan. 24
6
7% Feb. 7
29 130*2 Jan. 27
4 78 Feb. 2 4
116 Feb. 1 7
llO ^s Jan. 3 0
6 ¡] 45*2 Feb. 1
114*2 Jan. 2 7
14*2 Jan. IO
38% Jan. 6
40% Jan. IO
109 Jan. 27
53*2 Feb. IO
2 5 7s Jan. 9
133*4 Jan. 3 0
23 Jan. 6
8 55 Jan. 28
5 1078 Jan. 12
6 65 Feb. 2 3
6 23% Feb. 24
8 88 % Jan. 10
20 463s Jan. 3
9
9% Jan. 27
5 122*2 Feb. 3
14 Jan. 20
16 31 Feb. 138 16 Jan. 3 0
20 47 Jan. 9
9 95% Jan. 9
9 91 *2 Feb. 11
5 64*4 Jan. 9
6 39 Jan. IO
24 96 Jan. 1 0
9 57 Feb. 2 3
5 8738 Jan. 9
11 80 Jan. IO
15 104*2 Jan. 59*4 Jan. 11
17*2 Jan. O
1838 Jan. 5
89% Jan. 3
13*2 Jan. 27
80 Jan. 9
108 Jan. 9*
17% Jan. 27
73 Jan. 2 7
37 Jan. 3 0
29*8 Jan. 9*
65*2 Jan. IO
39*4 Jan. IO
183s Jan. 9
9*2 Jan. 7
33*2 Jan. 3 0
18*2 Feb. 2
47 Jan. 3 0
23 Jan. IO
4 7 78 Jan. 10
25 Jan. 31
22% Jan. 18
23 Jan. 11
67*2 Feb. 1824 78 Feb. 2 3
69*4 Feb. 2 3
88 J an. 31
36*2 Jan. 5
73% Jan. 3 0
9 116 Jan. 1 9
71 62*2 Jan. 3
6 105 Jan. 288114*2 Jan. 2 3
9| 27*4 Jan. 3 0
51 5858 Jan. 3
16 Jan. 36 28% Jan. 9
55 Feb. 1 3
20 38 78 Feb.
6 78 Jan.
3 112 Jan.
55 Jan.
94% Feb.
3 7 78 Jan.
106*2 Feb.
144*2 Jan.
79% Feb.
17
18
30
18
3
19
15
30
24
Jan. 23
3 108% Jan. 25
4| 74 Jan. 2 0
1 9 1 3 2 Feb. 2 4
12 75 Feb.
13 99*2 Feb.
26 99*4 Feb.
9,140*2 Feb.
3 43% Jan.
2 94*2 Jan.
5 41% Feb.
5 94 Jan.
6 80 Feb.
8
4% Jan.
6
6*2 Feb.
4 91 Feb.
139% Jan.
153% Feb.
13% Jan.
IO
20
25
10
30
26
21
9
2
»
24
7
27
29
12
38*2 Jan. IQ
39 Jan. 11
9% Jan. 2 7
97*4 Feb. 25
30 Jan. 9
325s Jan. SO
34% Jan. 1 7
LQO Mar. 6
THE CHRONICLE.
314
[Y ol. XLVI i
BONDS—LATEST FRIGES OF ACTIVE BONDS AT N. V. STOCK. EXCHANGE, AND RANGE SINCE JAN. 1, 1888
Range since Jan . 1.
Closing.
R ailro a d Bonds.
M ar. 9 Mar. 2
Lowest.
Highest.
Closing.
R ailroad Bonds.
M ar. 9 M ar. 2
Range since Jan. 1.
Lowest.
Highest,
120%b. 119 Feb. 120% Jan.
Mil. Lk.Sh. A W —1 s t ,6s, 1921. 120
23 Mar. 27% Jan.
A tl. & Pac.—W. D. ino., 6s, 1910
113% Mar. 117% Jan.
Ashland D iv.—1st, 6s, 1 9 2 5 ... 112%b.
8138 80 Jan. 83 Feb.
Guar., 4 s, 1 9 3 7 .............. .
110
b. 105% Jan. I l l Mar.
109
b.
Milw.
A
Nor.—M.
L.,
6s.
1
9
1
0
107
Jan.
105
b.
105%
Feb.
Gan. South.—1 st guar., 5s, 1908
E xtension, 1st, 6s, 191 3 ......... 107 b. 107%b. 104% Jan. 108% Feb.
90% Mar. 94% Jan.
91%
2d, 5s, 1 9 1 3 ....................
105% 104% Feb. 108% Jan.
Minn. A St. L.—1st, 7s, 1 9 2 7 - 110 b. 105 b. 102 Feb. 10 Jan.
Central of N. J .—1st, 7s, 1 8 9 0 ..
59 Feb.
Imp. A Equip.—6s, 1 9 2 2 ......... 52 b. 52 b. 53 Jan.
117 b. 111% Jan. 117% Feb.
Consol. 7 s, 1 8 9 9 ................... -■
67% Mar. 73% Jan.
121
b.
Mo. K .A Tex.—Con., 6s, 19 2 0 ... 67%b. 63
121
Feb.
115
Jan.
Convert. 7s, 1 9 0 2 .......................
58 %b. 58 Mar. 63% Jan.
02 Feb.
102 b. 102 Feb.
Consol., 5s, 192 0 ........................ 58
Convert, deb. 6s, 19 0 8—- .......
99 Feb. 106% Jan.
Consol., 7s, 1904-5-6—.............. 100% 101%
98 Jan. 101% Feb.
General m ort., 5s, 1987 . . . . . . 100 % 101%
Mobile A Ohio—New, 6s, 1927 .. 110 b. 112 b. 108% Jan. 116 Jan.
113% Jan. 114% Feb.
Leh, A W .B.,con.7s, 1909,as’nt 114
105%
Jan. 105% Jan.
104
%b
104
%b.
1st,
Extension,
6s,
1927..........
105
'
Feb.
101% Jan.
Am. Dock A Im p., 5s, 1 9 2 1 ...
51
45 Jan.
51 Feb.
1st pref. debentures, 7 s ........... 45
Central Pacific—gold 66, 1 8 9 8 .. 114%b. 114 b. 113% Jan. 114% Mar.
92%b.
84%
Jan. 93% Feb.
115%b.
91%
Mutual
Un.
Tele.—S.
f.,
6s,
1911
115%
Feb.
114% Jan.
San Joaquin Br. 6 s .1 9 0 0 ......
Nash. Ch. A St. L.—1st, 7s, 1913 127 b. 129%b, 128% Jan. 130% Mar.
Band grant 6s. 1890.................. 103 %a. 102%b, 102 Jan. 103% Jan.
N.Y. Central—E xtend., 5s, 1893 105%b. 105 %b. 104% Jan. 106% Mar.
103% 103 %b. 102% Jan. 104% Feb.
Mort. 6s, 1 9 3 6 .............
N.Y.C. A H .—1st, cp., 7s, 1903 132 b. 134 a. 132% Jan. 135 Feb.
Ches. & O.—Pur. m. fund 6s, ’98 107 b. 106 %b. 105% Feb. 114% Feb.
107%b 108% Mar. I l l Feb.
Debenture, 5s, 1 9 0 4 ..............
67 b. 65% Feb. 70% Feb.
6s, gold, ser. B .1 9 0 8 , coup, oft 655s
N.Y.AH ar.—1st, 7s, 19 0 0 ....... 130%b 130%b. 128% Jan. 133 Jan.
67
64% Feb. 70% Feb.
E xten. coup., 4s, 1 9 8 6 ............. 65%
89
89
86% Jan. 90% Jan.
N.Y. Chic. ASt.L.—1st, 4s, 1 9 3 7 ..
28 Feb.
18 Feb.
6 s, currency, 1 9 1 8 .................... 19 b. 19%
116
114% Jan. 117% Jan.
100 b. 101
90% Jan. 101% Mar. N.Y. Elevated—1st, 7 s, 1906___ 115
Mort. 6s, 1 9 1 1 ....................
127
Jan. 129% Feb.
N. Y. Lack. A W.—1st, 6s, 1921.
Ches. O. A Bo. W .-5-6S , 1911 ... 101 %b. 102 %b, 104 Feb. 108% Jan.
110 %
Construction, 5s, 1923 .............
107% Jan. 110% Feb.
101% Feb. 103 Jan.
Chlc.Bur. & Nor.—1st, 5s, 1926. 101 igb.
106%
102%
Jan. 106% Mar.
N. Y. A Nor.—1st, 5s, 19 2 7 .......
Chic. Burl. & Q.—Con. 7s, 1903. 132 b. 181% 129% Jan. 132 Jan.
N. Y. Ont. A W.—1st. 6s. 1 9 1 4 .. 108%b I08%b, 109 Jan. 113 Jan.
105%b. 104% Jan. 107% Feb.
Debenture 5s, 1 9 1 3 .................. 105
91
b,
91%
91 Jan.
93 Jan.
N.Y.Sus.AW —1st ref., 5s, 1937.
D en ver D ivls., 4 s, 1 9 2 2 . . . . . . . 90 b. 91 b. 91 Mar. 95 Jan.
111% Jan. 113% Jan.
Midland of N. J.—1st, 6s. 1910 113% 113
Chic. & E ast. 111.-Con. 6s, 1934 116% 116% 113 Jan. 117% Feb.
N. O. Pacific—1st, 6s, 1 9 2 0 ........ 76 a 78 a 75 Mar. 80 Jan.
98
97 Jan. 100% Feb.
Chic. A Ind. Coal B ., 1st, 5s, ’36 98
17%b. 114% Jan. 118% Feb.
Norfolk A West. -G en ., 6s, 1931 117%b, 116%b 112% Jan. 117% Jan.
Ch.Mil. A St.P—1st, I.A M.7s, ’97
116% 115% Jan. 117 Mar.
ConBOl. 7s, 1 9 0 5 ................ . . . . . 124% 125 b. 123% Jan. 126 J a n .. North.Paciflo—1 s t,coup.,6s, ’21 116%b
Gen’l, 2d, coup.. 193 3 ........... . 104%b 105 %a 102 Jan. 105% Jan.
112
b,
114
Feb.
112
b.
111% Jan.
1 st, So. Min. D iv.—6s, 1 9 1 0 ....
99% Jan. 102% Jan.
N. Pac. Ter.Co.—1st, 6s, 1 9 3 3 ... 101 b 102%
104 %b. 101% Jan. 105 Feb.
1st, Chi. A Pae.W .Div—5s, '21
Ohio A Miss.—Consol., 7 s, 1898. 116 b 116 b, 114% Jan. 115% Feb.
101 %a, 100 Jan. 101% Feb.
Wis. A Min. D iv.—5s, 1921
2d, consol., 7s, 191 1 ......... . . . . . 116 b 118 b 117 Feb. 118% Mar.
101 b 100 Jan. 101% Feb.
101
Terminal 5s, 1 9 1 4 .............
Ohio Southern—1st, 6s, 1 9 2 1 ... 103 b 102 b 99% Jan. 104% Feb.
Ohio. A N. W.—Consol. 7s, 1915 141%b. 141%b, 139% Jan. 143 Jan.
2 d ,ine., 6s, 1 9 2 1 ...... ............. 32 a 31 b 31% Jan. 34 Jan.
128% Jan. 132 Feb.
Gold, 7s, 1 9 0 2 ........................... 131 a 130
Omaha & St. L .—1st, 4s, 1 9 3 7 .. 70 b............... 70 Mar. 76 Jan.
Sinking fund 6s, 1 9 2 9 ..... . . . 120%a, 120%a 121 Feb. 121 Feb.
98%
94% Jan. 100 Jan.
Oregon Impr. Co.—1st, 6s, 1910 98%
108 Jan. I l l Feb.
Sinking fund 5s, 1 9 2 9 ............. 111 b. 111
Ore. B. A N av.C o.—1st, 6s, 1909 I09%b. 109% 108% Feb. 110 Jan.
108 Feb. 109% Feb.
Sinking fund debent. 5s, 1933 109 a 109
Consol., 5s, 1 9 2 5 . . . . ................ 99 a. 99 b. 96% Jan. 100 Jan.
104% Feb. 105% Jan.
25-year debent. 5s, 1 9 0 9 .. — 104 b
96 b. 93 Jan. 96% Feb.
Oregon ATranscon.—6s, 1 9 2 2 .. 95%
91%b. 91% Mar. 95 Jan
E xtension 4s, 19 2 6.................. . 92%
Peo. Dec. A E vans.—1st, 6s, ’20. 105 b. 107%a. L06 Jan. 109 Jan.
131% 131% Jan. 133% Feb.
Chi. B. I. & Pac.—6s, coup. 1917
103 Feb. 106 Jan.
E vansv. D iv— 1st, 6s, 1920
E xten . A col. 5s, 1 9 3 4 ............. 104% 104% 104 Mar. 107% Feb.
70 b. 74 a. 72 Jan.
75 Jan.
2d m ort., 5s, 1 9 2 7 ..............
119% Jan. 121 Feb.
Oh. 8t.P.,M.& O.—Consol. 6s. ’30 121 a 121
55%b.
53
53 Mar. 59% Jan.
Bich A All.—1st, 7s, 1920, tr. rec
Ch.StX.& P itts.—1 st,con. 5 s ,’32 100 a 100 a. 99% Jan. 100% Jan.
115
113%a.
109
Jan.
115
Mar.
Biohm.
A
Dan.—Cons.,
6s,
1915
127
b.
123
Jan.
127
b
129
Feb.
C. C. C. & Ind.—C onsol 7s, 1914
103 b. 100 Jan. 100 Jan.
108%b. 107% Jan. 109 Feb.
Debenture, 6s, 1927 ................
Gen. 6s, 1 9 3 4 ....................... .
118
a.
Mar.
118
Feb.
116
Booh.
A
P
itts.—1st,
6s,
1
9
2
1
...
101
%
104
Jan.
101%
100
Jan.
CoL Coal A Iron—1st, 6s, 1900.
113 Jan 115% Jan.
70%
Consol., 6s, 19 2 2 .. _________ 114%b.
69% Mar. 73% Jan.
Col. H. Val. A Tol.—Con. 5s, ’31 69%
Borne W. A Ogd.—1st, 7s, 1891. 108%b. 108 b. 107 Jan 109 Feb.
Gen. gold, 6 s, 1 9 0 4 .................... 72 a 72 a. 70 Jan. 75 Jan.
Consol., extend., 5s, 1922—. . . 103%b. 103% 101% Jan. 104 Mar.
D enver A B io Gr.—1st, 7s, 1900 120%b 121 b. 119% Jan. 121 Jan.
101%a. 98 Jan. 101 % Feb.
77%
St Jo. A G d .Isl.—1st, 6s, 1925 101
77
75 Mar. 79% Jan.
1 st con. 4s, 1 9 3 6 . . . . . . . .........
40 b. 40 b. 41 Jan.
41 Jan.
2d, incom e, 5s, 1 9 2 5 ..............
Den. A B. Gr. W .- 1st, 6s, 1911 70 b 71 b. 71 Jan. 73 Feb.
12% Feb. 113 Jan.
63
b.
St.
L.
Alt.
A
T.H.—1st,
7s,
1894
63 Mar. 68% Jan.
A ssented.....................................
108 Feb. 110% Jan.
2d, M., pref., 7s, 1 8 9 4 —. . . . . .
Den. So. Pk. A Pac.—1st, 7s, ’05 77%b. 77 b. 77 Feb. 80% Feb.
104%b. 103 Jan. 104% Feb.
41 a. 34% Jan.
2d., M., ino.. 7s, 1894---- - . . .
43 Jan.
Det.M ac.AM .—Ld.gr.3% s,1911 40
40 a 38 Jan. 38 Jan.
99%
Dividend bds, os, 1 8 9 4 . . . . . . .
95% Jan. 99% Mar.
E.TernV. A G. B y .—Con.,5s, ’56 99%
101 %b, 98 Jan. 104% Feb.
102
a.
St. L. Ark. A Tex.—1st, 6s, 1936
97 Jan. 104 Jan.
Eliz. Lex. A B. Bandy—6s, 1902. 99%a. 99%
40
40
39% Mar. 48% Jan.
132% 132% Mar. 137% Feb.
2d, 6s, 19 3 6 ......................
Erie—1st. consol, gold, 7s, 1920 133
112%b. 112%b. I l l Jan. 114 Feb.
St. L. A Ir. Mt.—1st, 7s, 1 8 9 2 - . 107 b, 108 b. 108 Feb. 111% Jan.
Long Dock, 7s, 1893 . . . .
109%b, 109 b. 109 Jan. 112 Jan.
2d mort., 7s, 1 8 9 7 ....... —
118 a. 117% 116% J a n . 117% Mar.
Con. 6s, 1 9 3 5 ................
95%
Cairo A F ulton —1st, 7s, 1891 104 b, 104% 104 Feb. 105% Jan.
94% Feb. 99% Jan.
N.Y.L.E.AW—2d con. 6s, 1969 95%
Gen. B y. A land gr., 5s, 1931 88%a. 87 b, 87 Mar. 92% Jan.
81
82 Jan.
79 Jan.
F t. W. A D en v. C. - 1 s t , 6s, 1921 80%
St. L. A San Fr.—6s., Cl. A,1906 115%b. 116 b. 113% Jan. 118 Jan.
101% Feb. 106 Jan.
Gal.Har.A San. A nt.—1st, 6 s ,’10 102 b
104
a
6s, Class B, 1 9 0 6 ...................... I16%b. 116 b. 115% Jan. 118% Jan.
105%
Jan.
104
Jan.
2d M., 7 s, 1905 ........................
6s, Class C, 1 9 0 6 ...................... 117%a. 116 b 114 Jan. 118 Jan.
90 Mar. 92% Jan.
W est. D ivision—1st, 5s, 1931 92 a
Gen’l mort., 6s, 1 9 3 1 — . . . . . 115 b 115%b. 112% Jan. 115% Feb.
2d, 6s, 19 3 1 .............................
30 a 30 Jan.
. G en’l mort., 5s, 19 3 1 ............... 102%b, 102 % 100% Jan. 103 Feb.
32% Jan.
Or’nB.W .ASt.P.—2dinc.8s,1911
121
%
121%b,
So. Pac., Mo.—1st, 6s, 1 8 8 8 .. 101% 101 % 100 Jan. 101% Feb.
122
Jan.
119
Jan.
Gulf Col.&San.Fe—ls t ,7 s , 1909
113 b. ÏT2 Jan. 113% Feb.
97 %b 97%
St. Paul M. A M.—1st, 7s, 1909
96% Jan. 97% Feb.
Gold, 6 s, 1923...................
117 Jan. 118% Jan.
107
b.
107
b
110
Jan.
2d, 6s, 1909.............................. 120%b,
108% Jan.
H enderson Br.Co.—1st. 6s, 1931
112%b. 113 Feb. 115% Jan.
1st cons., 6s, 1933 . . . . . . . . . . . 114 a, 112 b. 114 Mar. 116% Feb.
111
H . A Tex. C.—1st M. L. 7 s . . .
95
%b.
97 Jan.
96
%a.
96% Feb.
Do
reduced
to
4%
s.
114
a.
110
112 Feb. 114% Jan.
1st, W est. D., 7 s, 18 9 1..........
Shenandoah V a l.- 1st, 7s, 1909 95 a. 90 a 90 Jan. 92% Feb.
112
112% Jan. 114 Feb.
1st,Waco & N. 7s, 1 9 0 3 .........
31
b.
32%a.
Mar.
36% Jan.
33
Gen’l mort., 6s, 192 1 ......... . . .
108 a. 102 Feb. 108% Jan,
107
2d, consol. M. L. 8s, 1 9 1 2 ..
So. Carolina—1st, 6s, 16 2 0 ........ 101 b. 101%b. 97 Jan. 102% Feb.
65 Jan. 69 Feb.
Gen. mort. 6s, 1921, tr. reo
79
%b.
85 Feb.
Jan.
80%a.
69
2d, 6s, 1931................................
112% Jan. 112% Jan.
Xnd.Bl. & W.—1st, p ref.,7s, 1900 107 %b I l l
18% Jan.
12%b. 14 b. 15 Jan.
88
Ino., 6s. 1 9 3 1 . . . . . . . . . . . . . . . . .
89% Jan.
85 Jan.
1 st, 5-6s, 1909, tr. rec...........
114%b.
114
Mar.
113%b.
111%
Jan.
So. Pac., Cal.—1st, 6s, 1905-12.
65 Feb. 71% Jan.
2d , 5-6s, 1909, tr. rec...........
So. Pac., Ari.—1st, 6s, 1909-10.
88 a. 87 Jan. 88 Feb.
E ast. D iv.—6s, 1921, tr. reo
107
%b.
108%
Mar.
105%
Jan.
So. Pac., N. M.—1st, 6s, 1911. .
17 a. 18 a. 16 Feb.
18 Feb.
Incom e, 6s, 1921, tr. r e c ...
Tex. A Pac.—Inc. A Id gr, 7s, ’15 45 %b. 4 7 %b. 46 Mar. 51% Jan.
Xnt. A Gt.Nor.—1st, 6s, gold ,’19 104%b. 104 b. t<9 Feb. 111% Jan.
66 a. 67 b. 65 Mar. 70% Jan.
Bio Grande D iv.—6s, 1 9 3 0 —
70
70 Feb. 77 Jan.
Coupon, 6s, 1 9 0 9 ......................
63 a. 60 Jan.
62% Mar.
Gen. mort. A term ., 6s, 1 9 0 5 69 Jan.
75 Jan.
70 b. 71
K ent. Centr.—Gold 4s, 1 9 8 7 ...
Toh A.A. A N. M.—1st, 6s, 1924. 98 %a. 93 b. 85 Jan. 99% Feb.
94% Jan.
89% Jan.
K noxv. AO .—1st, 6s, gold, 1925 91 b. 92%
101
b.
101
Jao.
105
Feb.
108
a.
T
o
1.A.A.
A
Gr.Tr.—1st,
6s,
1921
105
b.
104
b.
105
Feb.
101%
Jan.
L. E rie & W.—1 st g., 5 s, 1 9 3 7 ..
Tol. Peor. A West—1st, 7s, ’17 . 87 b. 87 b.
lA k eS h .-C on .cou p .,1st,7s,1900 125%b. 125 b. 125 Feb. 127 Jan.
95
b.
97%
Jan.
93
Jan.
96
%b.
124
Tol.
A
Ohio
Cent.—1st,
5s,
1935
122%
Jan.
125
Jan.
123%
Con. coup., 2d, 7s, 1 9 0 3 ...
92 %a. 91% Jan. 94 Feb.
Tol.St.L. A Kan. C.—1st,6s, 1916
121 b. 120 b. 120% Jan. 121 Jan.
Long Island—1st, 7s, 1 8 9 8 ..
115%a.
115%
Feb.
114
Jan.
115
b.
Union
Pacific—1st,
6s,
1
8
9
9
....
lll%
b
.
I l l Jan. 111% Feb.
1st, consol., 5s, 1 9 3 1 .........
Land grant, 7s, 1887-9......... . 103%b. 103%b,
Lou. A Nash.—Consol., 7s, 1898 120%b. 121 b. 120 Jan. 123 Feb.
114%t>.
119
Jan.
114%
Mar.
114%
Sinking
fund,
8s,
18
9
3
.............
112
lub% Jan. 112 Mar.
N. O. A Mobile—1st, 6s, 1930.
B a n . Pacific—1 s t ,6s, 1 8 9 5 .... 109% 109 b, 109% Feb. 112% Jan.
2d, 6 s, 1 9 3 0 .............................. 96%b. 98%b, 96% Jan. 99% Feb.
1st, 6s, 1896............................. 110%b. 110 b. 109% Feb. I l l Jan.
E . H . A N.—1st, 6s, 1 9 1 9 ......... 114%b. 114 b. 114 Feb. 114 Feb.
Denver D iv.—6s,. 1 8 9 9 ...... 115%b. 115%b 114% Feb. 115 Feb.
General, 6 s, 1 9 3 0 ....................... 112% b 112%b 109% Jan. 113 Jan.
1st consol, 6s, 1919 . . . . . . . . 105 %b. 105 %b. 101% Jan. 106% Mar.
Trust Bonds, 6s, 1922.............. 107 b. 107% a, 106% Mar. 110 Jan.
100 Feb. 103% Jan.
Oregon Sh. Line -1 s t, 6s, ’2 2 - 101 %b. 102
10-40, 6s, 192 4 ........................... 103%b. 104 a 104 Feb. 104 Feb.
82 Feb.
Virginia Mid.—Gen. m ., 5s, 1936 81 a. 81 b 78 Jan.
Lou. N. A. A Ch.—1st, 6s, 1910. 109% 110 a 108 Mar. 112% Jan.
45 Jan, 47 Jan.
Wab. St.L. A Pac. - Gen., 6s, ’20
Consol., gold, 6s, 1 9 1 6 .............. 91 b 91 %b 90% Jan. 93 Jan.
98% Feb.
Jan.
98
93
Chicago Divison—5s, 1 9 1 0 ---- 96
100 Jan. 102% Jan.
Mem, A Ch’lston—6s, gold, 1924 101 b 102
85
84 Feb. 90 Jan.
Wabash—Mortgage, 7s, 1 9 0 9 .. 90
Metro. E levated.—1st, 6s, 1908. 112%b 113 b 111% Feb 116% Jan.
109
Jan.
109
107% Jan.
Tol. A Wab.—1st, e x t.. 7s, ’90
107
103 Jan. 107 Feb.
2d, 6s, 1 8 9 9 ................................ 107
107% Jan. 109 Feb.
109 a
1st, St. L .D iv.. 7s, 1889
Mich. Central—1st, con., 7s. ’02 127 b 130 a 127 Jan. 130 Feb.
91
Feb.
92 a. 88 Jan.
2d, extended, 7s, 18 9 3 ..
109% Feb. 110% Jan.
Consol. 5s, 1 9 0 2 ............
85 b. 83 Jan. 88% Feb.
C on.,conv., 7s, 1 9 0 7 ...
M lss’rlP a c.—1st, cons., 6s,1920 111 a 111 b 110% Mar. 113% Jan.
Great West.—1st, 7s, 1 8 8 8 .... 108 %a. 108 b. 108 Feb. 109 Feb.
8 d ,7 s, 1 9 0 6 — ......................... 117%b, 119 a 115 Jan. 118 Feb.
90 Jan.
91 a 91 a. 88 Jan.
2d, 7s, 1893.......................
Pac. o f Mo.—1st, 6s, 188 8 —. . 101% 101 %b 100% Feb, 103% Jan.
99% Jan. 101 % Mar.
101
101%
West Shore—Guar.. 4 s .........
104 b 104 Jan. 105% Feb.
2d m ort., 7s, 1 8 9 1 ................
NOTE—The letter “ b” indicates prioe bid, and “ a” price a sk e d ; all other prices and the range a ”e from actual sales.
ST A T E BO NDS.
24
80 %b.
105 %b.
91
105%h116%b120%b-
SECUBITIE8.
Alabama—Class A 3 to 5 . ....1 9 0 6
Class B , 5 s . . . . ........................1906
Class C ,4 s ,.............
1906
6s, 10-20................
1900
Arkansas—6s, funded.. 1899-1900
7s, L ittle Bock A Fort Smith, iss.
7s, Memphis A Little Bock, is s ..
7 s, Arkansas Central B B .............
Georgia—7s, gold........* .....,..1 8 9 0
Louisiana—7s, con s........... .......1914
Stamped, 4 s .....................................
Michigan—7 s............................. .1890
25
Bid.
Ask.
SECUBITIES.
107% Missouri—6 s.......due 1889 or 1890
Asylum or U niversity, due 1892
Funding.........................1894- 1895
Ï0 3 "
N ew York—6s, lo a n .; . . . ......... 1892
102
6s, loan ............ _ . . . .......... . 1893
6
North Carolina—6s, old_____ .JA J
18
Funding a c t ........................... 1900
20
N ew bonds, J. A J ___1892- 1898
14%
Chatham B B ..........................
105% 106%
Special ta x , Class 1 ..............
105
Consolidated 4 s ..................... 1910
91
6s........................... . 1919
105
106
108
100
Bid.
Ask.
102
105
107
111
112
35
10
20
10
120
93
122
SECUBITIES.
Bid.
A sk .
Bhode Island—6s, c o u ..1893-1894 110
3% 4%
South Carolina—6s, non-fund. 1888
Brown consolidated 6 s ___ 1893 105% 107%
62
Tennessee—6s, old____ 1892-1898
72
68
Compromise, 3-4-5-68___ ...1 9 1 2
New settlem ent—6 s ............... 1913 101% 107
5 s .............................................1913 94
68 %
3 s...................................... ....1 9 1 3
48
Virginia—ob, old..................... ..
70
6s, consolidated bonds......... ..
60
6s, consolidated, 2d s e r ie s ....
7%
6s, deferred, trust rec...........
ai5
THE CHRONICLE.
March 10, 1888.]
BONDS—STOCK EXCHANGE QUOTATIONS ON FRIDAY OF INACTIVE RAILROAD BONDS.
SECURITIES.
Railroad Bonds.
Bid.
Ask.
(Stock Exchange Prices.)
Atch. Top. & San. Fe—4%s ...1 9 2 0
Sinking fund, 6 a .................... 1911
Beecn Creek—1st gold, 4s....... 1936
123
Balt. & Onio—l s t 6 s , Park B ..1919
107%
5a, gold ......................................1925
97%
Boat. H . Tun. & W.—Deb. 5 a...1913
105%
Brooklyn E lev.—1st, G., 6a. ..1 9 2 4 104%
82
2d, 3-5a..........
1915'
Bnrl. Ce. Rap. & No.—le t, 5a. 1906 100 101
97%
Conaol. & col. tr, 5a...............1934 95
R egistered....................................
Minn. & St. L.—1st 7s, gu ..1 9 2 7
Iow a C. & W est.—1st 7 a ....1 9 0 9
Ced. Rap. L F. & N., 1st 68.1920
97%
1 st 5a......................................1921
Buffi. N.Y.& Phil.—Cons. 6 a ...1921
50
40
Trust certificates...........- ...............
General 6 s,............................... 1924
Trust certificates.........................
79
Central Iowa—1st, 7a, Tr. R ecl899 75
E ast’n Div., le t, 6a.................1912
Illinois D ivision—1st 6a____1912
Cons, gold bonds, 6 s ............. 1924 45
Cent. RR. & Banking Co., Ga.—
Collateral gold, 5 s..................1937 *100 % 101%
Ghes. & O.—6s, gold, aer. A . ..1 9 0 8 103
Ches. O. & So. W est.—2d 6 s ... 1911
Chicago & A lton—1st, 7 s ........ 1893 113*2
126%
Sinking fund, 6 s ......................1903
Louis. & Mo. River—I a t 7 a ..l9 0 0 119 120
2d 7a........................................1900 118
St. L. J a ck s.* C hic—1st, 78.1894 116
1st, guar. (564), 7 s ............. 1894 116
2dm ortg. (360), 7 s .............1898 115
2d, guar. (188), 7 s............... 1898 115
Miss. R. Bridge—1st, s.f. 68.1912 107
Ohio. Burling. & Q.—
5s, sinking fund...................... 1901
Iow a D iv .-S in k , fund, 5 s ..1919
Sinking fund, 4 s .................1919
Plain, 4 a ............ .......................1921
92
92°8
Nebraska Extension 4 s........1927
Chic. Burl. & N o .-D eb . 6 s ....1 8 9 6
Chic. Rock Isl. & Pac.—
D es Moines & Ft. D.—1st,4 s. 1905
55
1st, 2%s.................................. 1905
Extension, 4 s ...... ...............1905
107
Keok. & D es M.—1st, 5s ....1 9 2 3
Chic. Milw.& St.P.—
1st, 8s, P. D ............................ 1898 127 129
2d, 7 3-10s, P. D .................... 1898 117 118
1st, 7s, $ g., R. D ...................1902 *124 128
1st, La Crosse D ivision, 7 s .. 1893 114 117
1st, I. & D ., 7 s .........................1899 119
1st, C. &M., 7 s........................1903 127
1st, 7s, I. & D. E x t................ 1908 123 125
1st, a W. D iv., 6s...................1909 113%
1st, 5s, La C. & D a v ............. 1919 102 104%
1st, H. & D., 7 s ...................... 1910 123 125
103
1st, H. & D ., 5 s ....................... 1910 * _
Chicago & Pacific D iv., 6 s ..1910 120%
99
Chic. & Mo. Riv. Div., 5s ...1 9 2 6
102
Mineral Point Div., 5 s......... 1910
C. & L. Sup. D iv., 5 s.............1921 100
121%
Fargo & South., 6s, Assu ...1 9 2 4
97
Inc. conv. sink, fund 5 s........ 1916
Dakota & Gt. South., 5s....... 1916 *......... 94%
Chicago & Northwestern—
Escanaba & L. S.—1st, 6 s ... 1901 112
D es M. & Minn.—1st, 7s ....1 9 0 7 122 130
*130
Peninsula—1st, conv., 7 s ___1898 125
Chic. & M ilwaukee—1st, 7 s .1898 *118
Win. & St. P .—2d, 7 s.............1907 130%
Mil. & Mad.—1st, 6 s .............1905 *110
Ott. C. F. & St. P . - l s t , 5 s ..1909 104 105
Northern 111.—1st, 5 ............. 1910 104 106
Cl. Col. Cin. & Ind.—1st, 7s, s.f.’99 121
Consol, sink, fd., 7 s ............... 1914
Chic. St. Paul M. & O.—
Chic. S. P. & Minn.—1st, 6S.1918 123
No. Wisconsin—1st, 6 s......... 1930 *124% 126%
St. P a u l& S .C .—1st, 6 s ....1 9 1 9 125 126
117%
Chic. & E. 111.—1st, s. f., cu r.. 1907 *
94%
Gen. con., 1st, 5 s ...............1937
115
117
Chic. & W. Ind.—1st, s.f., 6 s .. 1919
General m ortgage, 6 ............. 1932 *115 117
Chic. & SC. Louis—1st, 6 s........1915
94
Cin. I.St.L.& Chic.—1st,g.,4s .1936
R e g is te r e d ................................
95%
Cin. Jack. * M a c.—1st,g .,5 s ...1936
Col. & Green.—1st, 6s............... 1916
2d, 6 s......................................... 1926
94
Col. & O n. Midland—1st, 6 s ..1914
Cœur d’Alene, 1st, 6s, g o ld ... 191»» 100 102
112 %
Del. Lack. & West.—Conv. 7s. 1892
Mortgage, 7 s .......................... 1907 132% 140
Bvra. Bing. & N. Y.—ls t.7 s .1 9 0 6 135
142
Morris & E ssex—1st, 7 s........1914
2d, 7 s ......................................1891 108 109
126
Bonds, 7 s ............................. 1900
7 s of 1871............................. 1901
134
1st, con., guar., 7 s .............1915
DeL & Hud. Canal—1st, 7 s ... 1891 108 108%
1 st, e x t , 7 s ...............................1891 108%
Coupon, 7 s,...............................1894 *114
Registered, 7 s ...................... 1894
Pa. Div., coup., 7 s .- ...............1917 137
R egistered..................................... 137% 140
Albany & Susque.—1st, 7 s .. 1888 102 %
1st, cons., guar., 7 s ........... 1906
135*
R egistered.................................. *130
1st, cons., guar., 6 s ........... 1906 122%
R eg istered .................................
Bens. & Bar.—1st, coup., 7 s. 1921 *142 144
R eg ister ed .,..................................
D et. Mack. & Mar.—1st, 6 s .. .1921
D et. B ay C. & A l p .- l s t , 6 ....1 9 1 3
106^
D uluth & Iron Range—1st, 5s. 1937 10*
.■ « » S ì 93
E . Tenn. Va. & Ga.—1st, 7 s ... 1900 *119 121
D ivisional 5 s .................
1930 *105
SECURITIES.
Ask.
60
E.& W .of Ala.—1st,cons.68,g.,1926
Eliz. C. & N.—S .f., deb., 6 s. ..1 9 2 1
1st m ortg., 6 s ..........................1920
122
Erie—1st, extended, 7 s ...........1897
2d, extended, 5 s ....................1919 114 114
106
3d, extended, 4 % s................ 1923
4th, extended, 5 s....................1920 114%
5th, 7 s .......................................1888 102% 103
1st, cons., fd. coup., 7 s....... 1920
Reorg., 1st lien, 6 s .................1908 107
B. N. Y. & E .—1st, 7 s ...........1916 135 140
N. Y. L. E. & W.—Col. tr., 6 sl9 2 2
90
Funded coup., 5 s....................1969
90
Buff. & S. W.—Mortg. 6 s ....1 9 0 8
Evan. & T. H . - l s t , cons., 68.1921 115 117
Mt. Vernon—1st, 6 s...............1923
105
Evans. & Indian.—1st, c o n s ...1926
Eureka Springs R’y, 1st, 6s, g.1933
F l’t & P. Marq.—Mortg., 6 s ... 1920 121% 123
97%
Grand Rap. & Ind.—Gen. 5 s ..1924
R egistered.........................................
97
Green B. W. & St. P .—1st, 68.1911
Han. & St. J o s —Cons., 6 s.......1911 119
75
Hous. E. & W. Tex—1st, 7 s . . . 1898
Illinois Central—1st, gold, 4 s.l9 5 1 *105%
94%
1st, gold, 3%s.......................... 1951 94
Springf. D iv.—C oup.,..6s, . 1898
Middle D iv.—Reg., 5 s .........1921 111
120
C. St. L. & N. O.—Ten. 1., 7s. 1897
1st, consol., 7 s ......... ......... 1897 117
2d, 6 s ......................................1907
Gold, 5s, cou p on ................ 1951 115% 116%
115
R egistered....................... .
Dub. & S. C.—2d D iv., 7 s . ..1 8 9 4 111%
79
Ced. F alls & Minn.—1st, 78.1907
Indianap. D. & Spr.—
1st, 7s, ex. fund, coupon....1 9 0 6 103 103%
Lake Shore & Mich. So.—
Cleve. P. & A.—7 s .................1892 112 %114
Buff. & Er.—New bonds, 7s. 1898 121
Kal. & W .Pigeon—1st, 7 s ... 1890
Det. M. & T.—1st, 7 s .............1906 125% 130
Lake Shore—Div. bonds, 7 s. 1899 122%123%
125%
Consol., reg., 1st, 7 s .........1900
124
Consol., reg., 2d, 7 s ...........1903
103
Mahon’g. Coal RR.—1st, 5 s. 1934
Long Island RE.—
N. Y. & M. Beach—1st, 7 s .. 1897 110
N. Y. B. & M. B .—1st, g„ 5s. 1935
Louisville & N ashville—
Cecilian Branch—7 s .............1907 100 106%
Pensacola D iv.—6 s.................1920 100
St. Louis D iv.—1st, 6 s ......... 1921 113
2d. 3S
mmm
1980 55
Nashv. ¿ Decatur—1st, 7 s .. 1900 118
S. & N. Ala.—S. f., 6 s ...........1910
Louisv. C. & L.—6 s ............... 1931
101
5 p. c. 50 year gold b ds......... 1937
96
P ens. ¿ A t.—1st, 6s, g o ld .. 1921
85
Lou. N. O. & Tex.—1st,4 s ___1934
40
2d m ort., 5 s............................1934
Mexican Cent.—New, a s s .,4 s .1911
22
Income, 3 s — ........................1911
Michigan Cent.—6 s ................... 1909
Coupon, 5 s ____. . . . . . . . . . . . . 1 9 3 1 108%
Registered, 5 s......................... 1931 108%
Jack. Lan. & Sag.—6 s ......... 1891 102 104%
Milw. Lake S. & West.—
89%
Conv. deb., 5 s......................... 1907
Michigan D iv.—1st, 6 s------- 1924 112 %
Minn.&8t.L.—I’a E x.—1st,7s. 1909 85 100
100
2d m ortg., 7 s........................... 1891
Southwest E xt.—1st, 7 s ___1910
Pacific E xt.—1st, 6 s ............. 1921
Minn. & Pac.—1st mortg. 5 s ..1936
Minn. & N. W.—1st, 5s, g o ld ..1934
Minn. S.Ste.M .*Atl.—1st,5 s .. 1926
Mo. K. & T.—Cons.,2d, ino___1911
107%
H. & Cent. Mo.—1st, 7 s ....... 1890
Mobile & Ohio—Col. tr., 6s ...1 8 9 2 102
72
St. L. & C airo- 48, guar....... 1931
Morgan’s La. & T.—1st, 6 s___1920 107
1st, 7 s ...............
1918 121 125
Nash. Chat. & St. L —2d, 6 s .. 1901 106 107%
N. J. June.—Guar. 1st, 4S ....... 1986 102
Registered certificates..................
N. Y. P. & O.—Prior lien, 6 s .. 1895
N. Y. & Northern.—2d, 4 s . . . . 1927 50% 53%
N. Y. & N ew Eng.—1st, 7 s . . ..1 9 0 5
1st, 6 s ....................... - ............. 1905
N.Y. Susq.& West.—Deb. 6 s ... 1897
2d, 4%s..................................... 1937 70
N. Y. N. H. & H —1 s t ,reg. 4 s.l9 0 3
N. Y. Tex. & Mex.—1st, 4s ...1 9 1 2
Northern P ac.—Gen. 3d, 6 s ..1937 91
91
Dividend scrip___................. .........
91%
Dividend extended.........................
Jam es River VaL—1st, 6s. .1936 104 105%
102
S p o k a n e * Pal.—1st, 6 s ....1 9 3 6
116%
St. Paul & N. P.—Gen., 6 s ..1923
Registered.....................................
H e len a * Red M’n—1st,g .,6 s.l9 3 7
100
Dul. & Manitoba—1st, g. 6 s .1936
Do Dakota Div.—1st, 6s. 1937
Hel. B.Val. & Butte, 1st, 6 s.l9 3 7
Drummond ¿ P’bg.—1st, 58.1937
92
H elena & No.—1st, g’d, 5 s .1937
La M. & Mo. R iv.—1st, 5s . 1937
N. O. & No. E .—Pr. L, g., 6s ..1 9 1 5
99 105
New Or. & Gulf—1st, o s .........1926
Norf. & W.—New Riv.—Ist,6 s.l9 3 2
Imp. & E xt., 6 s.....................1 9 3 4 101% 102%
Adjustment M., 7 s . . . . ......1 9 2 4 107
Ogd. & Lake Ch.—1st, 6 s ....... 1920 101
Ohio & Miss.—Cons., s.f., 7 s ..1898 116 117
Springfield D iv.—1st, 7 s . . . . 1905 108
95
General 5 s..............................1 9 3 2
Ohio Cent.—1st Ter. Tr., 6 s ... 1920
Min. D iv.—1st, 6 s ...................1921
Ohio River RR.—1st, 5s .....1 9 3 6
Oregon & Cal.—1st, 6 s ....... ...1 9 2 1
Panam a—Sink, fd., sub., 6 s ...1 9 1 0
Peoria ¿ P ek U ’n—1st, 6 s ....1 9 2 1 109
2d M., 4 % s.................... ...,,.1 9 2 1
No price Friday; these are latest quotations made this week.
Bid.
SECURITIES.
Bid.
Ask
Pacific RR.—Central Pacific—
Gold bonds, 6 s ...................1 8 9 5 114
Gold bonds, 6 s .................... 1896 114
Gold bonds, 6 s.................... 1897 114
CaL & Oregon—Ser. B ., 6 .1 8 9 2 .........
West. Pacific—Bonds, 6 s___1899 111%
No. R ailw ay (Cal.)—1st, 68.1907 114 115
Union P ac.—1st, 6 s ...............1896 *113% 114%
1st, 6 s....................................1897 *114%
1st, 6 s ....................................1898 ........ 115
Col. Trust, 6 s ....................... 1908 104
Col. Trust, 5 s.........................1907 9 4
C. Br. U. P .—F. 0., 7 s ....... 1895 *105
Atch. Col. & Pac.—1st, 6s. 1905 *104
Atch. J. Co. & W —1st, 6 s .1905 *102
Ut. So.—Gen., 7 s ................ 1909 90
Extern, 1st, 7 s .................. 1909 87
Missouri Pacific—
Verd’s V. Ind. &W., 1st, Ss.1926 ........
Ler. &C’yV al.A . L.,1st,58.1926 ....... 100
St. Louis & San Francisco—
1st, 6s, Pierce C. & 0 ........... 1919 *105
Equipment, 7 s ..................... 1895 *105
1st, trust, gold, 5 s ..............1987
102%
Kan. City & S.—1st, 6s, g.1 9 1 6
105
F t. S. & V .B . Bg.—1st, 68.1910
St. L. K.&So.Wn.—1st, 68.1916
Tex. & P ac.—1st, 6 s .............1905 106
Consol., 6s, trust receipts.1905 102% Ì03%
Pennsylvania RR.—
Pa. Co.’s guar. 4%s, 1st o p ..1921 106% 107
106%
Pa. Co.’s 4%s, reg...............1 9 2 1
Pitts. C. * S t.L .—1 st,op.,7s. 1900 117
2d, 7 s......................................1913
Pitts. Ft.W . & C —1st, 7 s ... 1912 142 .........
2d, 7 s......................................1912
3d, 7 s ......................................1912
Clev. & P .—Cons., s. fd., 7 s .1900 125 128
4th, sink, fd., 6 s.................. 1892 106%
St. L. V. & T .H .—1st, g., 7 s .1897 112 .........
2d, 7 s ......................................1898
2d, guar., 7 s ..........................1898 108 ..........
Pine Creek R ailw ay—6s of 1932
74%
Pitts. & Western—1st, g., 4 s ..1917
Pitts. Cleve. & Tol.—1 s t ,6 s ... 1922
108
.......
Pitts. Junction—1st, 6 s ........... 1922
Pitts. McK. & Y.—1st, 6 s ....... 1932
Rich. & Danv.—Deb. e x cp ,6s. 1927 *83*
80
83%
Consol, m ort., gold, 5 s ......... 1936
Atl. & Char.—1st, pr., 7 s___1897
In co m es......... ...................... 1900
89
Rich. & W. Pt. Ter’L Trust 6 s .. 1897 87
San Ant.& Arans.—1st,6s,’85-1916
1st, 6s, 1886.............................1926
Scioto Val.—1st, cons., 7 s .....1 9 1 0
Coupons o f f . . . . . . ............................. 50
St. Louis * Iron Mountain—
Arkansas Branch—1st, 7 s .. 1895 108%
Cairo Ark. & T .—1st, 7 s . . . . 1897 108
St. L. Alton & Ter. H aute—
B ellev. & So. 111.—1st, 8 s. ..1 8 9 6 *117
111%
B ellev. & Car.—1st, 6 s ..........1923
81
St. Louis & Chic.—1st, con. 6s. 1927
St. P aul Minn. & Man.—
Dakota E xten.—6 s.......... ...1 9 1 0 120%
82%
M ontana E xten .—1st, g .,4 s.1937
R egistered.....................................
Min’s U n —1st, 6 s.................. 1922 *110
St. Paul & Duluth—1st, 5 s . . ..1 9 3 1 *107
Sodus B ay & So.—1st, 5s, g ...l 9 2 4
Tex. Central—1st, s. f., 7s ....1 9 0 9
50
1st mortg. 7 s ........................... 1911 40
Tex. & N. O.—1st, 7 s .................1905 113% 115%
Sabine D ivision, 1st, 6 s........1912, 100
105%
V alley R’y Co. of O.—Con. 6 s .1921
88
Virginia Midland.—Inc., 6s. ..1 9 2 7
Wat,. St. L. & P ac.—
H avana D iv .-6 s ......... . . ....1 9 1 0
Indianapolis D iv.—6 s .. . . . . . 1921
Detroit D iv.—6 s .................... 1921 105 .........
Cairo D iv.—5 s................. .....1 9 3 1
Tol. &Wab.—Equip. b d s.,7 sl8 8 3
Quin. ¿ Tol.—1st, 7 s ..........1890
98
Han. ¿ N a p le s—1 s t ,7 s . . . . 1909
111. & So.Iow a—1 st,ex. 6s. 1912
St. L. K. C. & N .—
Real E state & RR.—7 s ___ 1895
111
Clarinda Br.—6 s .............. 1919
St.Charles Br’ge—1st,6s. 1908
No. Missouri—1st, 7 s ..........1895
Wab. St. L. & P ac.—Iow a D iv., 6s
West. Union Tel.—Coup. 7 s .. .1900 117 % Ì20*"
R egistered................ ........................ *115% 118
N. W. Telegraph—7 s .................1904 100
Wheeling & L. E ., 1st M. 5 s. .1926 * 96% 98%
Market St. Cable R y., 1st, 68.1913
Manhat. Beach Imp. Co.—7 s. 1909
86
103%
Am. Water Works Co., 1st. 68.1907
Tenn. Coal Iron * Railw ay—
Tenn. D iv., 1st, 6 s . . . . : ........ 1917
Bir. D iv.—1st con. 6 s............1917 82%
Col. ¿ Hock. Coal * I.—6s, g.,1917
In co m e B o n d s.
(Interest payable i j earned.)
A tl. & P ac.—Cen. D iv ............. 1922
25
Cent. Iow a—Coup, debt c e r tfs ........
E liz.C ity & Nor.—2d in e
:.1970
35
In d .D ec.* Spr.—2d in e.tr.reo. 1906 20
Leh. & Wilkesb. Coal............... 1888 * 95 102
100
Milw. Lake Sh. & W.—Incom e.......
Mobile & Ohio—2d p ref. d e b e n ....
28
24
3d pref. debentures.................. .
20 22
4th pref. debentures.......................
N. Y. L. E. & West.—Inc., 6 s ..1977 52%
Ohio Cent.—Min. D iv.-In c. 78.1921
Ogdens. & L. Cham.—Income. 1920
Shenandoah Valley—Inc. 6 s .. 1923
10
F r e e L is t,
Erie & Pitts. R’y, cons. 7 s ___1898
Gal. H. & H. of ’82.—1st, 5 s ..1913
Grand ftapdis & Iud., 1st, 7s. 1899
Jefferson RR.—1st, 7 » .. . . . . . . 1 8 8 9 101 102
N. J. Southern, int. guar., 6 s. 1899 100
sia
S E C U R IT IE S .
l o i n \jk t_> Itü iiiU } .— l i t e lO tio w U ift B i a i e m e m ö in . w ö t h e
Average A m o u n t o f Net Deposits
Legal
iSpecie.
lenders. th a n Ü .S .
Loans and
Discounts.
N e w Y o r k ..............
M a n h a tta n Co........
M erch a n ts’ . . . . . . . .
M echanics’. . . . .......
A m e ric a ...................
P h é n ix ........... .
C ity ........ .................
T radesm en ’s . . . . . . .
C hehiical...............
M erch a n ts’ E x c h .
G a lla tin N atio n al.
B a tc h e rs ’ A D rov.
M echanics’ & T ra .
G reenw ich ..............
L e a th e r M an n l’r s .
Seventh N a t...........
S ta te of N . Y .........
A m eric’n E x c h ’ge.
C om m erce. . . . . . . . .
B ro a d w a y ...............
M ercan tile..............
P a c ific .....................
R ep u b lic ......... .
C h a th a m .................
P eoples’...................
N o rth A m e ric a ....
H a n o v e r .. . ______
Ir v in g ... . . . . .
C itizens’ ..................
N a s s a u ....... ........
M ark et & F u lto n
S t. N ic h ' la s ...........
Shoe & L e a th e r...
C orn E x c h a n g e . . .
C o n tin e n ta l........
O rie n ta l...................
Im p o rte rs ’ & T ra d
P a r k .........................
N o rth R i v e r .......
E a s t R iv e r........... .
F o u r th N a tio n a l..
C en tral N atio n al..
Second N atio i a l .,
N in th N a tio n a l....
F ir s t N a tio n a l.......
T h ird N a tio n a l___
N . Y , N a t. E x c h ...
B o w e r y .................
N . Y . C o u n ty .........
G erm an-A m eric’n .
C hase N a tio n a l....
F if th A v e n u e .........
G erm an E x c h ’nge.
G erm an ia.................
U n ite d S ta te s .........
L in c o ln .............. .
G arfield...................
F if th N a tio n a l.......
B ’k of th e M etro p .
W e st Side................
S eaboard ................
S ix th N a tio n a l__
W e s te rn N a tio n a l
$
10 960.000
9,254.000
6,789,400
8,156,000
1),589.6 01'
3.572.000
8,267.4 00
2,654,600
19,476,100
3,441,500
4.925,500
1,937,900
2,054,000
1, 121,200
3,140,600
1,271,400
. 3.690.1 00
16,605.000
l7 ,2 l 3.600
5.383,500
8,052.100
2,335,300
9.054 900
4,516 60O
2.096 9e0
2,639,!-00
12,131,600
3,‘ 04.' 00
2,720,200
2,556,100
4,2(2,800
1,968,700
3,244,0c0
6,t7 2,5( 0
4,777.500
2.050.100
19,793,200
18.722,500
1,940.600
1,399,700
16,t 76.400
7,038,000
3,398,000
6,023,C00
21.944,800
5,i 03,500
1,4 26.60C
2.436,9( C
2.130.90C
2,6723 0t
7.968,800
3.585.80C
2.633,70C
2,500,700
4 410,10C
2,840',4OO
2,101.60C
1.428.20C
3,712,9 0C
1.849.30C
. 2 ,415.70C
1,726,40t
8,655,000
•PntAl..................
9
2,510.000
1,460,000
1,449,000
1.139,000
2,322,800
401.000
5.367.600
6 8.300
6.0 86.8 00
647,700
765,700
367,800
107,000
115,100
699.700
345.900
34 8,200
3,467.000
3,010 200
3,084,700
1,381,800
504,000
1.751.800
1,056.200
280,700
859,500
3,267,200
514,500
465,000
400,500
98 0,100
206,800
661,000
831.100
547,400
159,300
4,184.400
5.084,50u
152,100
300.700
2.661,C00
1,4673 00
723,000
1,099.600
2.927,500
949,200
208,000
519.50C
698,100
441,500
1,649,900
776,200
87,' 0C
174,20C
1,028,700
602.30C
499,200
323.40C
927,40C
3 04, COO
525,60C
475,000
647,600
$
1,110.000
832,000
848,900
1,179.000
550 700
298.0011
957. <00
168,700
583.000
348,700
654,700
116.800
188,000
113,400
268,100
88,2 00
233.400
2,030.000
1,058.900
297.20"
7 .9 600
300.200
57 8,800
406.700
90,900
212,000
687,400
246,000
206,700
412,200
218,4 00
88,700
291,000
251,000
701,7 00
324.000
1,429,000
1,961,500
133.100
108,000
1,734,300
1,012,( OO
425,000
271,800
1,863.300
448,500
137,900
288.100
136.4 0C
153.700
624,500
136,400
432,00,
350,700
44.10C
154,30C
238,20C
173.20C
301,800
218,200
252,400
130.00C
1,051.000
CircularMon.
$
11,360,000
9.339,000
7 296’,800
7,199,"00
10,480.100
2,769,000
11,834,900
2.533.600
20.603,100
3.958,400
4,205,000
1.875,400
2, 122,000
1,097,400
2,663,000
1,338,200
2,925.4 00
15,803,000
12.491,400
4.853,400
8,045.100
2,716,700
9,042,600
5,0 00,! 00
2.5 c0 ,l0 0
3,4( 4.200
13 ! 19,200
3.094,000
2,824.4 00
3,111,100
4,157,200
1.968,700
3,409,000
5.529,600
5,193,500
2,010,000
21,306.700
23,706,200
2,029,400
1,551,400
16,212,400
3,628.000
4.176,000
5,341,800
19.829.V00
6,364,400
1,251,000
2,861,600
2,676,700
2,428,200
8,352.800
3,612,500
3,067,600
2,755,600
4,551,200
3,159,400
2,740,400
1,608.900
4.533,400
2,072,800
2,967,300
2.051,400
6,985,600
$
45,000
45,000
259,000
'51,400
'¿2,400
507.900
247,800
2,600
528,900
41,700
42,200
44.000
45.000
40,700
46.000
423^300
44Ö".9ÖÖ
45.000
67,500
45.000
44,100
45.000
128,400
Loans.
Specie.
L. T ’nders, D ep osits.
C irc u la ’n. A gg.Cl’ngt
$
$
$
F e b 18 143,590.600 9,357.500 3,307,400 111.085.900
- 26 143,689.20' 9,561,100 3,327,100 109,892,200
M ar. 8 145.179,000 9,289.300 3.150.601 109.649.900
Philadelphia Banks.—The totals have
1888.
F e b . 18.......
“ 25 .......
M sr. 8 ___
"In c lu d in g
Loans.
$
86.629.500
86,488.b00
86.659.500
$
23,267,400
22.871.600
22.538.600
$
$
6.433,100 82.654.916
6,460,900 63.991.8-8
6.619,000 81,086,704
been
L aw fu l M on’y Deposits.*
$
83.921,200
83,802,600
83,391,900
as follows:
C ircu la’n
A gg.Cl’ngs
$
2,322,150 56,469,292
2.321.740 51,240,576
2.319.740 . 53,990,886
th e ite m “ d u e to o th e r b a n k s.“
Quotations in Boston, Philadelphia and Baltimore.
Following are quotations of active stocks and bonds. A
com plete list is given in the Chronicle the first Saturday
of-each-month.
S E C U R IT IE S .
Bid.
A sk.
B O STO N .
R A ILR U .A D ©TOCKS.t
A tc n ise n A Tope&a . . . . . .
B o sto n A L ow ell................
B o sto n A M a in e ................
B o sto n A P ro v id e n c e ___
C a u to rm a ¡so u th ern.........
C e n tra l of M assa c h u se tts
P re fe rre d ..........................
Ohio. B u rl. A N o rth ’n . . . .
C lev elan d A C a n to n ...__
P r e ie rr e a ..........................
E a s te r n .................................
P re fe rre d ..........................
95
95*4
158 156*3
215 216
......... 250
38
40*3
22 »4
42
42»«
53
9
31*3 S3
122*3 125
128 130
91
26
P re fe rre d .............I ...........
»7
K a n . C ity F t. 8 . A G u lf ..
79
80
K a n . C. s p rin g !. a Meiu.
M ex ic a n C e n tra l..............
N .Y . A N . E n g ., p re f.......
N o r th e r n ..................
O ld C o lo n v . ......... _
W isconsin C e n tr a l__
P r e f e r re d ..... ..............
BO N D S.
r»/\u r
. 5 h....... .
P la in , fia..........................
M o rtg ag e, fia________
T r u s t,
............ I . . . " .
S E C U R IT IE S .
B id. 1Ask,
it. C F o r t S c o tt A G .—78
K.C. M emph. & B irm —5s
K. C ity rtp’d A M eui.—6s
it.C. C u n t. A Sp rin g f.—5s
L ittle B . A F t. 8 .—7 s.......
Lonisv.Ev.A St.L ,—1st, 6s
2 d m o rt., 2-6s......... .
Mar. H . A O nt.—1908, 6s,
1923, 6 s.............................
M exican C en tra l—4 a ........
in co m e..............................
N V. <te N . E n g .—1st, 7 s ..
1 s t m o rt., 6 s.....................
2d m o rt., 6 s . . . . . __. . . . .
S o u th ern K ansas—5 s .....
T ex as D ivision—5 s........
In c o m e s ...... . . . .
W iscon. C en t.—1 s t M., 5s
Incom e 5 s ........................
115*s.........
92 *3 93
......... 113*4
J 96*3.........
.........108
103
04
56
67 n,
82
13
i ......... 115
140
174
16 34 17*3
i .......
U 19
88
{100
P H IL A D E L P H IA .
R A IL R O A D STO CK S, i
Baff. N .Y . A PhiL .ass.pd.
P referre d .........................
Lehigh V a lle y ...................
L ittle S c h u y lk ill...... ........
N o rth e rn C e n tra l..............
P e n n s y lv a n ia .....................
P h ila. A R e a d in g ..............
93*3 W est J e r s e y .........................
R A IL R O A D B O N D S.
A U eg h .V al.—7 3-lO s. ’96
7s, E . e x t., 1910____
105
In o . 7s, en d ., coup., ’94.
*Ex-uiviucnU . t k e r biiaie. i L a s t p n c e ib is w eek.
167
122
195
130
¡50
800
I860
F o u r t h ......... 135
lo n tin e n ta l.
Jorn E x c h ...
aiast R iv e r..
11th W a rd .
Fifth A v e ...
7 0 V 73
......... I 73
1 8 V 19
100*4 ICO*»
90 100
120 ......
110 1117
100*9 101**
98*9.........
71 i 72**87 <9 38*»
15*9 . . . —
Ask.
BANKS.
172
140
____
G a lla tin . . . .
G a rfie ld .......
G arm ’n A m ..
ISO
-la n o v e r__
Ina. A T ra d ’s'
__
4000
150
L e a th e r M fs’
170
128
200
M echanics’ .
M’c h s’A T rs
M ercantile..
M erenants ’ .
M’rc h ’t s ’E x.
____
136 ’ N assau. -
Bid. A sk.
165
220
V50
112
20 '
115*2
185
Sò 5 3*45
148
197
160 165
170
17Ò
150 ____
145 ____
138 142
115 120
19
20
148
BANKS.
4.Y. C o u n t'
U . N a t.E x
N inth............
North R iv’r .
O rie n ta l....
P acific..........
People’s . . . .
A sk:
Bid.
215
200
115
130
125
135
185
162
169
185
132
141
_
125
140
110
__ _
171
118
150 ....... »
300
.....
140
___ 118
105 106
tu tte d S t’ea
220
St. N ich o las.
S e v e n th .......
Second..........
S a o eA L eath
S tateof N .Y .
I n s u r a n c e S to c k L i s t .
[ Q uotations b y E . S. B ailey 6*a P in e S t.]
O O M PA N ’S B id. A sk. C O M PA N ’S. Bid. A sk. C O M PA N ’S. Bid.
A m e ric a n ...
B o w e ry .......
B ro a d w ay ...
B ro o k ly n . . .
C itiz en s’ ___
C lin to n .........
Commonw’h.
C o n tin e n tal.
140
140
130
150
110
110
110
80
80
175
225
90
90
ICO
E m p ire C ity
E x c h a n g e ...
F a rr a g n t__
F ire Asso’n . ....
F irem en ’s .. . 75
G erman-Am. 295
140
150
160
140
165
120
120
120
93
100
190
240
HO
110
110
100
90
305
150
115
190
50
100
115
120
65
100
170
65
80
L ong is la n d 85
L a fa j e t t e . . . 70
M an u f’c.A B 110
M echanics’ * 70
M e rc a n tile .. 55
M e rc h a n ts ’ . 70
Wmit.flTilr__ 75
[G reenw ich..
¡G u a rd ia n . . .
¡H a m ilto n ..
H a n o v e r ....
H o m e ...........
H o w ard . . . .
J e f fe rs o n ....
K in g s C o ....
K n ic k e rb ’k r
120
215
60
110
125
125
60
no
200
80
95
100
85
125
80
65
80
wrt
N a tio n a l___
N. Y . E q u it.
N. Y . F ir e ..
N ia g a ra .......
N orth R iver
P a r k .............
P e t’r Cooper
People’s ........
R u tg e r’s ___
S ta n d a r d ....
S te rlin g . . . .
S tu y v e s a n t.
U n ite d S t’es
W estc h e ste r
vrnUflmoVp.
A sk
130 140
80 100
140 15070
80*
135 14590 100*
146 180
65
65
156 165
85 10O
100 103
125 137
95 102!
70
75
100 115
140 150
135 140'
•»HO 380
G ai and City Railroad Stocka and Bonds.
G
B o s iu u B a n k » .— r o u o w m g a r e t u e to ta ls o l t h e B o s to n b a n k s :
1888
B id.
K™
__
A sb u ry P r k Toó
d iu a u w a y . .. 250
160
J e n tr a l.........
C hase............ 290
C h a th a m __ 230
3400
C itizens’ . ... 140
SP.400
180,000
45,000
SOft.ftJHÌ 75.38 9.7(*n 31.829.3fM1 377.549.200
B id. A sk —
Banh Stock List.
BANKS.
990,300
34,400
81,000
180,000
45.000
40.000
45.000
43»,"Oi
43.900
197,900
222,70i
180,000
S E C U R IT IE S .
New York Local Securities.
171
628,900
45.000
894,500
A sk.
£
Banka.
Bid.
Cam. A A m b — M.. 6s. ’89 5104»4 105
P hila.A Reafl’g (Cont’d)—
C ataw isp a -M . 7s. 1900. 122 125
Cons. 5s, 2d s e t.,0., 1933!
Dei.A B d.B .—1st, 7s. l i 05 129*3 130
D e b en tu re conn., 1893.1
L eh.V .—ls t,6 s ,C .A R ..’98 119*3 121
D eferred Incom es, c p ...
2d, 7s, re g ., 1910............. 138
P h il. W . A B alt.—T r. o.,4 s
Cons. 6s. C.A R .. 1923.- 131*3 132
P enn.—G en., 6s.c A r.1910 132 132*3
B A L T IM O R E .
Cons., 68, c. A r., 1906.. 121*4
R A IL R O A D STO CK S.f
Cons.. 5s, c. A r.. 1919. 110*3
B altim o re A O h io ...........
4*38, T r u s t L o a n ............. ......... 108
' 1 s t p re f............................
P erkiom en—ls t,0 8 .o n .’87 5....... 103
2d p re f...............................
P h il. A R .—2d,7s, o.A r.’93
R A IL R O A D BO N D S.
Cons., 7s, coup., 1 9 1 1 .. 12*8*4 130
B altim o re A Ohio—4 s .. ..
Cons., 6s, g., I.R .C .1911 119 . . .
106
Im p ., 6s, g., coup., 1897
Cin. W ash. A B alt.—le ts .
G en., 6s, g., coup., 1908 n ó » 4 111*4
2ds, f s __ . . . . . . . . . . .
G en., 7s, coup., 1908___ 113 114*4
3ds, 3- 4 s ................... ......
1 s t In c ., 5s, 1931...........
Incom e, 7s, coup., 1896
* E x-dividend. + P e r sh are, i L a s t p ric e th is w eek.
00
condition of the Associated Banks of New York City for the
week ending March 3, 1888:
[V ol. XLVI.
00
O
N tW
TH E CHRONICLE.
n u m i ' a n iE » .
] m a.
druoKiyn Gas-L i g h t ........
C itizens’ G a s-L ig h t. . . . . . .
Bonds, 5 s..........................
Consolidated G a s ..............
J e rse y C ity A H o b o k e n ...
M etropolitan—B o n d s .......
M u tu al (N . Y .) ......... .........
Bonds, 6 s ......................
N jssa n (B klyn.).................
S c rip ...................................
ASK.
105
65
50
100 103
73*9 74
160
114
91
89
102
100
1(0
95
102
102
100
GA S C O M P A N IE S .
P eo p le’s (B k ly n .)................
W illia m s b u rg ......................
Bonds, 6 s...........................
M etro p o litan (B k ly n .)__
M unicipal—Bonds, 7 s.......
F a lto n M u m o ip a l............
Bond*, 6 s ...................... ..
E q u ita b le ..............................
Bonds, 6s............................
Bid. A sk
65
118
106
75
105
129
105
108
110
67
123
111
80
no
132
109
112r
113
[C ity R E . Q u o ta tio n s b y H . L . G bajnt , B ro k e r, 1 4 5 B ro a d w a y .]
D. D. E . B. A B .— -c rip , 6s L04 107
28
26
E i g h t h a v .— s to c k ............. 155
160
112 114
S c rip , 6s, 1 9 1 4 ................ 1< 5 107*»
175
42d A G r’n ü Ht. F ’r v —S tk 200 210
102 104
1st m o rt., 7s, 1893........ 112 117
103 105*3
4 2 d S t. M anh. A S t. N .A ve 34
38
80
75
1 st m o rt., 6s, 1 9 1 0 ......... 107 108
70
80
60
2d m ort., incom e, 6s....... 55
116 120
.....
1oust. W .S t.A P. F’v—S tk . 156
106 110
112
1 s t m ort., 7s, 1 8 9 4 ......... n o
150 160
103 105
N inth A v e .......................
100
Second A v.—S to c k ............ 111 112
150 155
1 st m ort., 5s, 1 9 1 0 ......... 103 105
150 160
100
Consol., 7s, 1888 ............
118 120
S ix th A v.—s to c k ............. 160 Í7082*3 85
1 s t m o n ., 7s, 1890 ......... KJ5 H O
116 118
T h ird A v.—S to c k ............... 220 230
123 126
B onds, 7 s ,1 8 9 0 ’.............. 103 106111 113
T w enty-ihird sr,.—S to c k .. 230 2 3 5
148 152
112 114
1 st m o n ., 7s, 1893 ...
109 111
81’c k e r St.A Kult. P.—s tk .
l s t m ort., 7 s , 1900 .......
i r ’dw ay A 7t,h A v.—s t ’k . .
l s t m ort., 5s, 1904 ........
2d m ort., 5s, 1 9 1 4 ..... ..
B’w ay S n rface bds.,,1914
B o n d sg n a r.,5 s, 1905 . . .
Brooklyn C ity—s to c k .......
l s t m ort., 5s, 1902 .........
Sklyn. C rosstow n—S tock.
l s t m ort., 7s, 1 8 8 8 .........
Snsbw ’k A v. (B kln)—S t’k
C en tra l C rosstow n—S tk ..
l s t m ort., 6s, 1 9 2 2 ---- Cent. P k. N . A E. R iv .- S tk
C onsol., 7s, 1902 ............
O hrlst’pb' rA lO th S t—S tk .
Bonds, 7s, 1 8 9 8 . .. .. —
Dry Dk. E .B .A B a t’y—S tk
l s t m ort., 7s, 1 8 9 3 .........
Unlisted Securities.—Quotations from both Exchanges:
S E C U R IT IE S .
Am. B an k N ote C o ... . . . . .
A tlan , A Ch a r.—S to c k ...
100
A tl. A C har. A ir L-, 1 st, 7s
A t.A P ac.-lstM .O .D .o.d 6s
62*9
B c s t.H . T.A W est.—8 tk .
B rooklyn E le v ’d—stock.
Ì2 4 ”
C ape F e a r A Y ad.V al., 1 st
115
102*9 Chic. A A tl.—B en,, tr. rec.
Chic. G as T r u s t.................
i 96>s 97
92*9 Chic. S a n ta F e A Cal. 5 s ..
Ciun. A S p iin g fle ld .. . . . . .
'*8*3*9
92*2
Den. A B iö G r. W .—S t’k .
D ul. S. Shore A A t.— S tk .
i 43
46
P r e f................... i** .---•»••
Edison E le c trio L ig h t—
F la. R ’y A N a v , Co..........
P r e f ....... ............................
9*8 10
9*9 G eorgia Pao.—S to c k ......
1 s t 6 s__ . . . . . . . . . . . — --55»,
82*9
2d s______ ------H e n d e rso n B ridge—S t’k .
87*9
63*2 5 3 \ K anaw ha A O h io ......—
30», 3 0 7a
1 s t p re f..............................
2d p r e f . . . . . . . . .................
58»a
I s t 6 s . . . . . ......... ...............
K an. C ity A O m aha............
115
1 s t m o r t—. . . ................. .
110
22 24*9 K eely M otor........................
L ehigh A W ilkes. C o al...
V ex. N st- Con at m ct ’p Qo .
Bid. A sk.
30
85
IzO
87
121
"34" ' 39"
.........
32 »4
......
To"
27
29
19
108
60
21
109
52
100
......
2
5
TO
65
6
70
9S
Tt,
S
73
.........
26
S E C U R IT IE S .
M exican N a tional tr . re c .
1 s t m ortgage, tr . r e c .. ..
N ew 1 st 6 s ................. . .
N ew p. N . A M iss. V a l....
N . J . S o u th e rn ....................
N . Y. M. Un. T el.—8 to c k .
N . Y. W . S. A B uff............
N o rth . P ac.—D iv. uond»-N o rth R iv. C ons...............
O cean S team .C o .,lst g u a r.
P ensacola a A u a n iu u ...1 s t m o rt.............................
P o stal Telegraph—1st, bs.
P ittsl). a w « m e rn ................
Kich. Y o rk Riv. A C hes..
S t. Louis A Ch cago, pref.
1 s t M., 6 s ..........................
S t. P a u l K. a G r.T r., 1 st 6s
S o u th e rn Tel.—1 st M .. .. .
,Tol. A. A. A N. M ich.........
T oledo P e o ria A W e s t...
1 s t. 4 s ............ ....................
U. S. E le c tric L ig h t.........
V ioksb. A M erid ia n .........
P r e f . . . . ..............................
1 s t m o rt..........................
2d m o rt...............................
In c o m e s............................
W e s te rn N a t. B a n k .........
West. N. Oar.—Con. M___
B id. A sk..
8*9-
40
41
102
104*9r
8
86*9 97
6
100
37
90
99'
25
24
22
17
67*9 72*9
*4
*4
93
47*9 5 »
6
95
80
67
March io, 1888.1
T H E C H R O N ICLE
Im m stra m t
R oa d s*
317
L atest L am i-nys Hepartea.
Week or Mo
AND
1887-8
1886-7.
.J a n . 1
1887-8.
Date1886-7.
$
$
K noxv. & Ohio . January..
43,094
41,201
43,094
41,201
Lake E. & West. 4th wk Feb
40,170
37,600
289,823
233,178
Lehigh & H u d ... February..
17,691
20,534
4 1 ,4 4 6
34.759
L. Rock & Mem. 3d w k Feb
17.103
115,2 0
136.655
18,394
Long Island....... 4th wk Feb
33,221
312 ,5 4 1
25.518
849,276
The Investors’ Supplement contains a complete exhibit oj Lou.
& Mo. Riv.. December
39.001
46,597
589,639
553,858
the Funded Debt of States and Cities and of the Stocks and Louis.Ev. &St.L. 4th wk Feb 1 5 ,f 74 12,316 152,131 126,964
v. & Nasbv. 4th w kF eb 345.835 296.938 2,573.782 2,3 9 8 ,2 2 2
Bonds of Railroads and other Companies. It is published Louis
Lou.N.A. & Chic. 4th wk Feb
43,258
39.636
281.9 9 9
285.166
-on the last Saturday of every other month—viz., January, Louisv.N.O. &T. 4th wk Feb 55,075 42,766 448,357 390 .2 8 8
Lykens V alley.. January..
99,342
46,924
99.342
4 6 ,9 2 4
March, May, July, September and November, and is fu r Mar. Col. & N o.. December
6,773
4,613
64.342
&Chas. 3d wk Feb
39,296
32,0
258,155
274,233
nished without extra charge to all regular subscribers of the Memphis
‘M exican C ent.. 4th wk Feb 134,000 104.416
977.600
808,583
Chronicle. Extra copies are sold to subscribers of the *Mex. N. (all Ins) January... 178,133 146,943 178,133 146,943
‘M exicanRailwy Wk.Feb.25
78,346
60,477
633,329
575 ,2 1 4
•Chronicle at 50 cents each, an 1 to others at $1 per copy.
Mil. L.Sh.& West. 4th wk Feb
36,796
301,439
43,983
277.659
Milwaukee & No. 4th wk Feb
21,470
17,914
137,597
129,369
Minneap.& St. L. February.. 100.398 103,366
221,211
186,998
Min.St.Ste.M&A December.
23,933
15,690
R A IL R O A D EARNINGS.
92,709
190,478
Mobile & Ohio .. February.. 207,847 200,498
436 ,5 1 3
409,965
Ch. &St.L. January... 270,806 242,094
2 4 2 ,0 9 4
270,806
Gross Earnings to Latest Dates.—The latest railroad earn Nash.
Natchez Jac.&C.
13,896
13,790
29,431
29,151
ings and the totals from Jan. 1 to latest date are given below New Brunswick. February..
January...
46,309
46,613
f 46,6 1 3
46,309
for all the railroad companies whose reports can be ob N.Y. Cen. &H.R. February.. 2,586,483 2,454,831 5,303,187 5,169,541
cN.Y. L. E. & W . J anuary... 1,8S 0.183 1,888,060 1,890,183 1 ,888,060
tained.
N.Y. & New Eng. January... 391,539 357,787
357,7 8 7
391,539
N.Y.
O nt.& W ... 4th wkFeb
31,166
25,898
176,571
212,493
L atest L a m in g * Reported.
Jan . 1 to L atest D ate. N.Y. Sus.
& W ... January... 119,527
84,596
84,596
119,527
R o a d s.
Norfolk & West. 4th w kFeb
96.080
71,231
555,896
708,742
Week or Mo 1887-8. f 1.886-7
1887-8.
1886-7.
N’theastm (S,C.) December.
50,989
544,7
77
550,949
49,991
Northern Cent’l. Jan u ary... 452,441 514,948
452.441
514 ,9 4 8
$
$
$
Northern
Pacific
4th
wk
Feb
308.314
1,097,149
149,132
1,620,597
^Allegheny V al. . Jan u ary...
5 148,09 J
155,155
148,091 Ohio & M iss.. . . 4th w kFeb
57,223
606 ,2 4 7
45,410
600.355
8 1,719,351 16,965,412 14,459,378 Ohio
Atoll. T. & S. Fe. November.
River __
w kFeb
4,739
32.6 3 1
3,557
52,031
8 101,41
A tlanta & Char. December.
1,319,377 1,158.504 Ohio Southern. 4th
February..
47,702
9 9 ,4 0 4
45,928
106.838
A tlanta& W .Pt.. January...
4
37,881
41,544
37,882 Oregon Imp. Co December. 371,205 264.470
4,167,707 2 .999,483
4
37,31i » 409.877
A tlantic & P a e.. 4th wk Feb
394,105 Oreg. R. & N. Co December
539,849
403,152
5,3
4
4 ,9 6 2
5,376,258
Balt. & Potomac Jan u ary...
8 107,12r
122,498
107,127 P en n sylvan ia... January... 4,193,979 3,851,771 4,193,979 3 ,851,771
¿Beech C reek __ December
2
58,781 I 786,823
609,096 Penn. C o m p a n y.
8
3 2,93:
Buff.Roch. & P itt 4th w k Feb
295,766
255,173
No. West. sys. . December 1,585,696 1,350,956 18,532,322 15,469,215
Bur.C.Rap.&No. 4th wk Feb
5
51.50E
429,245
416,146
So. West. sys.. December
1,166,064 14,362,552 12,002,449
3
10,018
Cairo V. & Chic 4th wk Feb
109,227
108,487 Peoria Deo. &E v. 4th w kFeb 1,287,937
14,000
15,60(>
Cal. Southern... 4th wk Feb
3 ...........
320,474
1.240,629 Phila. & E rie__ January... 223,744
260.052
26Ò',Q52
223.744
4
29,84.
32,934
ICamden & Atl’c January.
29,843
& Read’g. J anuary... 930,240 1,570,821
930,240 1,570,821
) 135,00( 1,617,205 1.154,139 fPhila.
•Canadian Pacific 4th wk Feb
Coal
&
Iron
Co.
Jan
u
ary...
332,827
1,037,750
1,037,750
332,827
0
20,71i
C p.F’r &Yad.Val January...
27,920
20,713
Tot. both Co’s .. J anuary... 1,263,068 2,608,571 1,263.068 2,608,571
5
46,211
Carolina C ent... December
P itts. & West’m . 4th wk Feb
37,580
30,499
275,104
265,920
L 1O0.75C 1,036,557
•Central of G a ... 3d wk Feb
824.408 P ’rtRoyal &Aug. December.
27,544
22.510
320,404
305,675
9
97,28£
(203,912
Central Io w a ___February.
208,735 Pt. R’al&W.Car. December.
36,723
27,366
C en tra l of N. J . December.
J 995,925 11,528,588 1
R& W. P. Ter. C o 2 964,132 12,498,085 1
C en tra l Pacific « November.
Rich. <fc D anv. 4th w k Feb
68,875
7 0 4 ,5 0 0
52,125
796,559
Central of S. C. December
7
7,672
Va. Mid. D iv .. 4th wk Feb
29,050
17,050
206,481
249,557
7
491814
495,762
C h a rlest’n & Sav December.
482.895
4th
wk
Feb
C.
C.
&
A.
Div.
17,950
12,450
148,206
173,157
>
50,841
654,932
C h e s h ir e ............December.
630,703
Col.
&
Gr.
Div.
4th
wk
Feb
12,710
9,510
111,258
134,274
Cheraw & D arl. December.
.
.
.
.
.
.
.
.
6,681
West. N. C. Div 4th wk Feb
9,800
99,486
5,600
107,349
358,551 4,080,399 3,755,867
Chesap. & Ohio. November.
W. O. & W.Div. 4th wk Feb
1,605
m>r 15,075
12 .4 3 7
Eliz.Lex.&B.S. February..
68,420
Ash. & Sp. Div. 4th wk Feb
1,930
5,951
650
16,419
124,803
Ches. O. & S. W .. February..
307,912
270,403
Total
a
l
l
.
.
.
.
4th
wk
Feb
141,940
98,190
1,282,815
1,484,521
5,414
C h es. & Lenoir.. December.
184,576
212,446
737,121 8,941,386 8,060,640 Rome W. & O g .. January. . 212,446 184,576
C h ic. & A lton ... December.
ffSLL.Alt. &T.H. 4th wk Feb
37,213
39,708
302.393
311,628
Chic. & Atlantic 4th wk Feb
44,471
292,210
299,895
B r a n c h e s.___ 4th wk Feb
19,600
15,433
140. 3 0
152.86 7
149,296 2,276,198
Chic,Burl. &No. December.
St.L.
Ark.&
Tex.
4th
wk
Feb
62,302
3
3 0 ,6 6 0
41,159
439,684
12,368,432 27,576,078 2
Chic. Burl. & Q . December
St. L. & San Fran. 4th wk Feb 126,674 127,556
783,521
783,637
Chic. & East. IlD 4th w kFeb
:
37,467
316,826
296,352 St. Paul & Duluth 4th
wk
Feb
20,196
180,770
22,936
146.050
-Chic. & Ind. Coal 4th wk Feb
1
8,390
85,540
58,790
555,015 434,809 1,037,436
894,060
1 470,919 3,029,000 3,015,211 St.P.Min.&Man. February.
Chic.M il. &St.P. 4th wkFeb
February.
61,419
,24,169
4 7,508
:121,8 24
C h i c . & N ’thw’n, January...
1,723,173 1,571,289 1,723,173 S-Aut.&Ar.Pass.
Scioto Valley___ December
62.901
789,124
61.037
684,376
Chic. & Oh. R lv. February..
4,085
6,609
10,716 Seab’rd & Roan. December
67,486
54,693
Chio. St.L.&Pitts January...
446,385
452,716
446,385 Shenandoah Val.
5 8 .0 0 0
57,620
109,100
114,908
69,600
C h ie.S t.P . &K.C. February..
251,697
151,645 South Carolina . February.,
98,132
98,132
127,577
Chio. St.P.M.&0. January...
371,459
324,888
371,459 So. Pacific Co.— January... 127,577
4th
wk
Feb
23,117
Chio. & W. Mich
181,907
176,279
Gal.Har.&S.A. Jan u ary... 276,065 221,392
221,392
276.065
216,168
203,392
C in . Ind. S t. L. &C January.
216,168
Louis’a W est.. January...
64,023
58,539
58,539
64,023
C in . Jack. & Mac, 4th w kF eb
7,796
65,986
56,221
Morgan’s L&T. January... 472,266 368,274
368,274
472,266
C in . N. Q..&T. P, 9 d wk Feb
59,016
462,694
443,480
N.
Y.
T.
&Mex.
Jan
u
ary...
7,827
12 ,4 5 9
7,827
12,459
Ala. Gt. South 3d wk Feb
29,499
226,144
217,297
Tex. &N. Orl.J J anuary...
95,586
81,534
81,534
95,586
N. Orl. & N. E 3d wk Feb
13,777
123,036
106,380
Atlan’c
system
January.
915.767
742,198
7
42J98
915,767
Vicksb. & Mer. 3d wk Feb
11,034
75,437
85,812
Pacific system D ecem ber. 2,402,977 1,990,754 27,055,799 23,523,041
Vicks. Sh. & P. 3d wk Feb
10,262
77,166
93,117
Total
of
a
ll..
December.
3,551,096
2,904,546
37,369,205
32,110,158
Erlanger Syst 3d wk Feb
123,588
964,477
946,086 So. Pac. R E C in. Rich. &Fc. WJ 4th wk Feb
8,736
62,326
56,213
No. Div. (Cal.) November. 142,765 166,217 1,590,163 1,501,638
Cin. Sel. &Mob.. January..
10,297
9,747
10,297
So. D iv. (Cal.) November. 465,903 342,848 3,885,483 2,985,881
Cin. & Spring’d February.
77,233
168,255
162,843
Arizona D iv .. November. 169,176 134,348 1.521.815 1,395,676
Cin.Wa8h.&Balt. 4th wk Feb
43,408
344,013
343,504
N
ew Mex. D iv November.
59,202
55,900
607 ,9 8 3
635,799
C lev. Akron &Col 3d wk Feb
9,120
75,288
63,309 Spar.
Uu. &Col. December.
8,191
81,793
8,177
77,954
C lev. & Canton December.
29,197
373,965
356,916 Staten
Is.
Rap.
Tr
j
February..
39,601
41,392
8 0,229
84,173
Clev.Col.C.& lud February..
275,692
599,241
574.041 Summit Branch IJan u ary... 156, <73
86,311
86,311
156,973
Whole system February..
510,366 1,085,518 1,064,451 Texas & P acific.|4th w kFeb
111.271
984
,1 4 2
118,593
1.013.815
Clev. & Marietta 4th wk Feb
5,430
47,670
47,506 Tol.A.A.<fc N.M’h 4th wk Feb
13,192
7 1 ,9 5 4
9,435
92,988
Col. & Cin. Mid 4th wk Feb
6,040
46,377
53,445 Tol. & Ohio Cent. 4th wk Feb
28,916
163.690
16.217
211,217
Col. Hock. V. & T. th wk Feb
52,414
396,069
433,152
P. & W est.. 4th wk Feb
136,314
14*863
13,110
138,819
D env. & Rio Gr 1st wk Mar
131,000 1,199,900 .,228,9--f5 Tol.
Pacific ... Jan u ary... 1,727,832 1,737,353 1,727,832 1,737,353
D env. & R. G. W. 3d wk Feb
149.834
18,575
120,484 Union
Valley o f O hio.. [February..
42,512
41,972
Den. Tex.&Gulf. January...
22,871
13,890
22,871
13,890 Wab.
estern.,. (4th wk Feb 107,393 113,879
824,098
765, iÖO
Det.BayC.&Alp. February..
34,500
62,305
26,083
50,479 Wab., W
E. of Miss December. 546,796 589,546 6,901.587 6,791.215
Det.Lans’g & No. 4th wk Feb
20,433
20,501
141,131 Western
130,092
of
Ala..
January.
.
49,44(0
45,474
49,440
45 ,4 7 4
Duluth S.S.&Atl. 4th wk Feb
19,235
10,969
143,356
95,556
N. Y. & Pa. ,4th wk Feb
58,700
431,759
373 .9 5 7
50,190
E.Tenn.Va.&Ga. 3d wk Feb 109.572
99,702
800,482
720,815 West
85,705
85,705
tWest
Jersey—
Jan
u
ary...
-76,828
76Æ
28
E vans. & Ind’plis 4th wk Feb
4.581
3,621
33,896
35,564 Wil. Col. & Aug December
68,833
62,9*9
747,057
677,6 6 7
E vansv. & T. H . 4 th w kFeb
19,105
11,652
131,127
109,144 Wheeling
19,450
<
&
L.
E.
4th
wk
Feb
141,045
105,894
13,736
F lin t & P. Marq. 4th wk Feb
54.589
45,758
381,526
344,895 a Wisconsin Cen. 4th wk Feb
74,265
469,460
84,879]
437 .9 5 7
Fla. R.&Nav.Co. 3d wk Feb
24,925
26,803
165.051
161,028
F t.W .& Den.City 4th wk Feb
12,747
'6 ,2 ,6
133,255
77,658
G eorgia Pacific 4th w k F eb
15,784
t And branches.
* M exican currency.
10,776
175,553
212,189
Gr. Rap. & Ind... 4th wk Feb
50,293
45,127
306,062
295,901
c After deducting earnings paid over to leased roads operated on a perOther lin es__ 4th w k Feb
4,717
1,893
27,559
14,519
Grand T runk.. VVk.Feb. 25 301,657 333,611 2,145,386 S
centage basis.
25.885
G n.B ay W.&St.P December.
446.852
Hous.&Tex.Cen. 3d w k Feb
46,937
45,958
324,867
tN ot including Central of N. J. in either year.
364,082
'Humest’n &Shen December
17,420
16,564
161,761
160,852
H Including Ind. & St. Louis.
311.Cen. (111.& So) February.. 880,488 833,506 1,769.393 ] .,793,454
Cedar F.& Mm. February..
7,311
6,974
13,301
14,831
a All lines included.
73,240
Dub.&SiouxC. February..
53,397
130,021
114,035
Ta. Falls &S. C. February.
53.590
42,715
95.813
92,581
Latest Gross Earnings by Weeks.—The latest weeklyI n d . Bloom. & W. 4th w k Jan
52,042
58,942
187,365
202,600
I n d . Dec. & Spr. February..
23,732
27,985
52,203
70,472 earnings in the foregoing table are separately summed up
I n d . & St. Louis 4th wk Feb
37,213
39,708
302.393
311,628 below.
Jack. T. & K .W . February.
57,947
53,912
107,196
111,488
Kanawha& Ohio Jan u ary...
11,087
20,975
11,087
20,975
For the fourth week of February the gain in. earnings
K .C.Ft.8.& G ulf.|3d w k Feb
44,044
342,969
42,766
365,227
Kan. C. Sp. &M (3d wk Feb
35,559
33,088
243,969
275,399 reaches 15’35 per cent, but the roads had the advantage of an.
Kan. C. Cl. & Sp 3d wk Feb
5,869
33,854
35,192
4,195
K entucky C en t. February..
64,232
70,0081
142,717
131,423 extra day this year. This, however, does not apply to th«
K e o k u k & W est. 4th wk Feb
5,297
48,741 Grand Trunk of Canada, which always reports for the even
6,049
53,988
K iu g s t’n & P ern . 4 th wkFeb
3,7581
2,41 Of
21,938
14.242
fftiiitvcmct Intelligence.
week.
«¿318 ~sagj
4 th week o f February.
THE CHRONICLE.
1888.
1887.
Increase.
Decrease.
1
$
$
$
37,310
34,084
9.527
32,931
42,458
4,711
51,505
56,216
2,058
10,018
12,076
109.000
135,000
244,000
1,351
44,471
45,822
2,096
37,467
39,563
749
8,390
9,139
5,081
470.919
476,000
4,288
23,117
27,405
905
7,796
8,701
1,154
8,736
9.890
7.201
43,408
50,609
786
5,430
6,216
85
6,040
6,125
52,414
49,836
144,179
109,500
20,501
20,433
8,266
10,969
19,235
960
3,621
4,581
7,453
11,652
19,105
8,831
45,758
54,589
6,491
6,256
12,747
5,008
15,784 • 10,776
5,169
45,127
50,296
2,824
1,893
4,717
Other lines.
333,611
301,657
6,049
Keokuk & Western
1,348
2,410
3,758
K ingston & P em broke...
2,570
37,600
40,170
Lake Erie & Wester
7,703
25,518
33,221
Long Islan d ______
2,858
12,316
.1
15,174
48,897
296,938
345,835
3,622
39,636
43,258
Laon V' le N. Alb. & Chn
12,309
42,766
55,075
L i’*'v
N. Ö. & T exas
29,584
104,416
134,000
M exican Central..............
17,869
60,477
78,346
tM exican R ailw ay...........
43,983
36,796
Milwaukee L. Sh. & W est
3,556
17,914
21,470
5,268
25,898
31,166
24,849
71,231
96,080
Norfolk & W estern.. . .
159,182
149,132
308,314
Northern P acific.........
11,813
45,410
57,223
Ohio & M ississippi—
1,182
3,557
4,739
Ohio R iver....................
15,600
14,000
Peoria Dec. & E van s.
7,081
30.49S
37,580
Pittsburg & W estern..
16,750
52,125
68,875
12,000
17.05C
29,050
Virginia Mid. D iv.
5,500
12.45C
17,950
Char. C. & A. D iv.
3,200
9,51(
12,710
4,200
5,60(
9,800
800
805
1,605
Wash. O. & W. D iv.
1,300
65(
1,950
Ash. & 6par. D iv ...
.............
39,70?
L6
87 21 -■
4,167
Ì5Ì43£
19,600
21,143
41,15£
62,302
127,551
St. Louis & San F ra n .,
22'93(
20,1 Of
St. Paul & D uluth....... ' r’
______
111,271
118Í59Í
Texas & P a cific........... .
3,757
9,43f
h.
13,195
16,21r
12,699
28,9H
1,753
13,1U •
14,8tú i
.............
107,39.' i
113,871 1
Wabash W estern.
8,600
50,1(M
58,70<
5,714
19,45' )
13,73' Î
84.87Í1
.............
tel
74,26.>
A tlantic & Pacific.............
Buffalo Koch. & Pittsburg,
Burl. Cedar R. & N o rth ...
Cairo yin. & C h ic.............
Canadian Paeifio.........
Chicago & A tla n tic ..........
Chicago & East. I l l s . . . . . .
Chicago & Ind. Coal.........
Chicago Mil. & St. P a u l...
Chic. & W est M ichigan...
Cincinnati Jack. & Mack.
Cin. Rich. & F. W ..............
Can. Wash. &. B alt...........
Cleveland & M arietta.. . . .
Col. & Cin. M idland.........
CoL H. Val. & Toledo . . . .
D enver & Rio G rande....
Detroit Lans. & N o rth ....
Duluth S. S. & A tlan tic...
E vansville & Indianap...
E vansville & T. H ...........
F lin t & Pere M arquette.
Fort Worth & D env. City
Georgia P acific................
. 3,928,26 L 3,405,57 5
...........
.).
* Including Indianapolis & St. Louis,
f For the w eek ending February 25,
Total (66 roads).
635,268
3,226
Roads.
K n oxville &Ohio.......Gross.
N e t ...
Northern Pacific.........Gros».
N e t ...
Whitebreast F uel Co. .N e t ...
—J u ly 1 to J a n .3 1 —
----- J a n u a ry.1887-8.
1886-7.
1887.
1888.
$
41,201
296,026
236, » <
43,094
22,443
105,283
96,9 >
18,374
703,607 571,421 9*110,773 7,913,71;*
40,721
4,140,052
4,010,84«
8,466
97,228
7 7 ,6 8 »
13,255
17,922
-Dec. 1 to Jan. 31.-%
— Jan u ary.----->
1887-8.
1886-7.
1888.
1887.
Oregon Im p. C o ......N e t ...
41,862
25,170'
117,635
69,664
* Whole system , including Indianapolis & St. Louis and Cincinnati <fc
Springfield, t E xp en ses large on account of m aking exten sive repairs
to locom otives. { Including results on K noxville & Ohio.
2,578
34,679
AN NUAL REPORTS.
68
P ennsylvania Railroad.
( For the year ending December 81, 1887.^
The full text of the annual report of Mr. G. B. Roberts,
President of this company, w ill be found on a subsequent
page, containing statistics of the traffic and earnings of the
31,954 past year. The earniDgs, general income account and balance
752 sheet for three years, as compiled for the C h r o n ic l e , are
given herewith, as they present an interesting comparison
with previous years.
E A R N IN G S ON A L L L IN E S B O TH
Gross earnings......... .............
Operating exp en ses...............
7,187
N et earnings.. . . . . . . . . . . .
EA ST AN D W E S T O F PIT T SB U R G <te E R IE *
1885.
1886.
1887.
$92,994,549 $101,697,981 $115,515,506
61,690,901
67,102,714
77,238,082
$31,303,648
$34,595,267
$38,277,424
INCOM E ACCOUNT O F PE N N SY LV A N IA R A IL R O A D COM PAN Y.
The following statement shows the detailed income account
of the Pennsylvania Railroad Company for the years 1885,
1886 and 1887, the *« net income ” given in the first line being
the amount of income after deducting interest payments.
1,600
N et income Penn. RR. Division.
N et loss New Jersey D ivision . .
B alance...................
From this balance d ed u ct:—
Advances to Penn. Co. $1,667,733, of which there has been
charged to Penn. RR. income.
2,495 Paym ents to trust fund...............
Consol, mortgage redeemed . . . .
Allegheny Val. RR.—Deficiency
882
& Penn. Line RR.
do
2,740 Fred.
Am. SB. Co.—To m eet int. guar.
7,322 Settlem ent of balances under
trunk line p o o l......................... .
For destruction of property at
New Brunswick, N. J ...............
6,486 Extraordinary expenses, not
properly chargeable to capital.
10,614
Balance to credit of incom e
112,583
after deducting all paym ents.
Dividends..........................- ............
Rate of dividend...........................
Net Earnings Monthly to Latest Dates.—The tables follow
ing show the latest net earnings reported this week, the
returns for each road being published here as soon as received,
but not kept standing from week to week.
IHo n tli a n d C ale n d a r Year*
.----- J a n u a ry.—
-Jan. 1 to Jan . 31.1888.
1887.
1888.
1887.
$
$
Roads.
98,272
109,446
98,272 109,446
Central Iow a...............G ross.
15,347
182
182
15,347
N e t...
554,085
574,994
•Clev. Col. Cin. & Ind.Gross. 574,994 554,085
125,930
147,816
N e t ... 125,930 147,816
71,559
91,359
71,559
91,359
tDen. & R. G. W est..G ross.
16,645
16,645
15,315
15,315
N e t ...
24,396
24,396
27,805
27,805
D et. B ay City & A lp.G ross.
6,572
10,709
6,572
10,709
N e t ...
178,133
146,943
M exican N a tio n a l. . .Gross. 178,133 146,943
17,696 def. 8,681
17,696
N e t ... def. 8,681
117,845
86,600
117,845
Minn. & St. L o u is....G ro ss.
86,600
23,915 def. 1,376
N e t ... def. 1,376
23,915
46,613
46,309
46,613
46,309
N ew Brunswick. __ G ross.
5,941
5,941
427
427
N e t ...
So. Pacific Co.—
221,392
276,065
276,065
221,392
Gal. Har. & Ban Ant.Gross.
5,411
41,594
41,594
5,411
N e t ...
64,023
58,539
64,023
58,539
Louisiana W estern.Gross.
26,600
24,207
24,207
26,600
N e t ...
472,266
368,274
Morgan’s La. & Tex.Gross. 472,266 368,274
95,514
172,687
95,514
N e t ... 172,687
7,827
7321 12,459
12,459
N. Y. Tex. & M ex . Gross.
N e t ... def. 4,698 def. 2,966 def. 4,698 def. 2,966
95,586
81.534
T e x a s & N ew O rl...G ross.
95,586
81,534
15,865
N e t ...
15,865
32,623
32,623
915,767
T o t a l Atlantic sy s..G ross.
915,767 742,198
742,198
249,654
N e t ... 2491,854 157,181
157,181
42,781
40,628
Staten Island Rap. Tr. Gross.
42,781
40,628
N e t ... def. 2,356 df. 10,248 def. 2,356 def. 10,248
1,727,832
1,737,353
Union P a cific... . . . . . Gross. 1,727,832 1,737,353
349,011
430,068
N e t ... 349,011 430,068
M o n th a n d F isc a l Y e a r.
------Jan u ary. ------- > -J u ly 1 to Jan. 31.—
1888.
1887.
1887-8.
1886-7.
Road.
$
'
iE a st Tenu. Va. & Ga. Gross. 469,444 422,487 3,414,059 2,814,332
N e t ... 158,423 201,748 1,274,226 1,262,149
(VO L. X L \ I .
1885.
$8,153,685
159,497
1886.
1887.
i,974,970 $10,441,287
179,016
227,991
$7,994,188
$8,795,954{$10,213,296
$1,000,639
58,621
324,830
701,576
15,000
90,000
$667,093
69,895
324,800
698,390
15.000
90.000
.............
411,972
167,183
.............
265,000
175,000
.............
1,241,115
Balance to credit of profit and
lo s s a c c o u n t f o r j e a r ................
D e d u c t balance in s e ttle m e n t of
c la im s a n d o ld a c c o u n ts , & c..
$2,190,666
$2,542,150 $2,429,557
$5,803,522
4,738,892
<5)
$6,253,804 $7,783,739
4,738,892 5,418,702
(5ia)
(5)
$1,064,630
$1,514,912 $2,365,037
623,756
363,355
$701,275
14,032,918
Baiance
Balance profltandloss Deo. 31.
$ .............
78,624
324,8 0 0
352,835
.............
90,000
381,437
$891,156 $1,983,600
14,734,193 15,625,347
$14,734,193 $15,625,349 $17,608,947
31.
1887.
1886.
1885.
*
*
*
___
75,155,192 77,045,510 81,688,003
33,788,546 36,004,428 3o,444, 399
61,020,380 61,652,327 63,654,469
G E N E R A L BA LAN CE D E C E M B E R
Assets—
, h t
..
_
rwiat.rnct’n.eciuip t, &o.,railroads
between Phi la. & Pittsburg........
Post of bonds of r a ilr o a d s .........
Cost of stocks of railroads...............
Cost of bonds and stocks and investm ’ts n ot otherwise enum’t’d
Managers of Trust created by
5,283,815
6,604,286
9,610,239
In s u ra n c e f u n d . . . . . . . . . . . . . . . . . .
M o rtg a g e s a n d g ro u n d r e n t a l s . .
F r e ig h t b a la n c e s d u e ...........
--
3,750,000
10,000
19,150
« 73,4(55
704,432
3*758,621
10,000
2 2 ,6 5 »
56,997
446,024
3,828.517
10,000
60,150
487,715
446,024
Securities of United N. J. Comp s,
transferred w ith lease......... ... - Eauipm ent of UDited N. J. C os,
3,859,295
3*838,785
3*817,015
1,720,696
2,735,509
1,527,766
2,635,212
1,376,981
4,173,940
1,032,153
2,458,830
1,065,871
763,959
171,291
6,916,707
1,114,867
2,446,658
3,800,754
1,137,728
2,721,750
1,428,460
8-19,555
233,249
8,108,208
1, »7 8,329
2,215,958
3,110,078
2,072,120
2 ,9 8 4 ,8 7 »
1,640,739
1.025,405
244,495
8,867,433
1,098,446
2 ,682,294
3,521,799
r
trri+ h I dqqq
Bills and accounts receivab e, and
amounts due from other roads,
including advances, viz.:
United N. J. RR. & Canal Co.—
Construct on.............. .............
S in k g . f u n d & r e d e m p tio n .
R e a l e s t a t e ............... ...............
Phil. & Trenton—Construo’n ..
Real esta te............................
Cash balance i n .
207,891,570 214.455,923 228,715,053
1885.
1887.
1886.
$
$
L iabilities—
0. n
98,521,300
106,544,500
» 1 ax
Capital sto ck .....................................
65,364,762
64,9
9
7 ,3 5 3
F u n d e d d e b t— ------• -— - .............
1,540.448
1,948,956
Mortgages and ground r e n t s ........ 1,449,115
Penhs’lvania Co. for Insurance on
8,174,000
8,174,000
Lives, & c.,“ Trust certificates,”. 8,366,000
Har. F t. Mt. J. & Lan. stock guar.................................................
1,182,550
700,000
.<
«
4 p .c. hones guar...................... ..........................
B a l a n c e s due other roads................
652,166
759,843
786,190
P a y ro lls and vouchers for D ec’ber 4,079,692 5,196,502 6,245,241
March 10, 1¿89.]
THE CHRONICLE
1886.
IS 85.
1887.
$
$
$
83,062
94,764
Cash dividend u n p a id ............. .
96,533
1,531
1,408
Dividend scrip outstanding...........
1,303
7,554,615
Sundry accounts due other roads.. 6.598,888
8,560,685
Securities of the U nited N. J. Co’s,
3,838,785
transferred w ith the lease........... 3,859,295
3,817,015
Equipment of United N. J. Co’s,
1,527,766
transferred w ith le a s e ................. 1,720,696
1,376,981
Fund for the purchase of securi
ties guaranteed (trust of Oct. 9,
1 878)................................................. 3,758,621
3,828,517
3,907,140
Consol, m ortgage bonds redeemed 2,091,900
2,427,865
2,767,656
Balance to profit and lo ss............. 14,734.193 15,625,348 17,608,948
319
of the lines east of the Mississippi River are identical, it
follows that the agreement is essentially a part of the original
scheme of which the Wabash Western is the outgrowth. The
directors of this company are therefore closely interested in
the success of a plan which has in view the reintegration of
the original lines, now divided by the Mississippi River.”
[No general balance sheet accompanies the report.]
G E N E R A L IN V E S T M E N T NEW S.
Atchison Topeka & Santa Fe.—The Los Angeles Herald
gives a summary ot the condition of the new lines of t h f a
company’s California roads, the California Southern and Cali
Wabash Western Railway.
fornia Central: “The work of construction of the Atohison
(For the year ending December 31, 1887.^
Topeka Santa Fe branches in this region is progressing fine
The annual report of this reorganized company gives state ly, and it is believed that a few weeks more of favorable
ments of operations not only for the period of nine months weather will enable all the work to be finished. Much delay
from March 31 to December 31. 1887, during which the lines has been caused by the scarcity of building materials, but
were operated by the Wabash Western Company, but also for plenty of material is now on hand at San Diego to finish every
the three months from January 1 to March 31, 1887, of opera foot of track now being built. There are now 10,000 tons of
tions under receivers Humphreys and Tutt.
steel rails at San Diego and a large number of ties are expected
M IL E S O F R O A D O P E R A T E D .
daily. From present prospects the new line to San Diego will
Western Division. M ain L ine.
E astern D ivision. M ain Line. be in operation within the next ninety days.” * * * “ The
St. Louis to Kansas City___ 276*8 Detroit to Clym ers............... 213*0
road to Mentone from San Bernardino is completed, and the
Vine Street to F erg u so n ....
12-4 Laketon Junction to Chi
M ob erly to D es Moines....... 212*2
cago (C. & A. R R .)............ 123*1 tracklayers will be sent elsewhere at once. The Santa Fe
Albia to H arvey.......................
23*4 A ttica to Covington.............
15*1 Company is soon to have several new branches open, and the
Brunswick to Pattonsburg.
79*9 Sidney to Cham paign...........
11 *6 statement that ninety days is sufficient time in which to com
C entraliato Columbia.........
21*8
15*0
Salisbury to G lasgow ...........
T otal................................... 362*7 plete the work now on hand is not at all extravagant.
Baltimore & Ohio.—President Spencer requested of the
T otal................................... 641*5
All lines (grand total)................................................................................. 1,004*2 city of Baltimore that the $5,000,000 loan to the city should
extended at 4 per cent and the $2,400,000 sinking fund for
A condensed statement of the operations of the fiscal year be
this loan should be returned to the company. Of this Messrs.
gives the following results :
Gross earnings.......................................................................................$6,518,061 Hambleton & Co. say in their circular: “So far as extending
Operating exp en ses.............................................................................. 4,680,124 the unpaid portion of the Baltimore & Ohio $5,000,000 loan is
concerned, there can be no possible reason for refusing to do
N et earnings . . .............................................................................. $1,837,937 so, but the proposition to return the $2,400,000 already paid
M iscellaneous receip ts........................................................................
52,979
on account of the loan might, if acceded to, establish a prece
N et revenue......................................................................................$1,890,917 dent dangerous to an extreme. Another objection is that
Taxes, rentals, interest, & c . . . . . . ..........
1,310,743 subsequent loans have been made by the Baltimore & Ohio
Surplus for 1 8 8 7 ..................................................................
................................................................. ......... $580,173 Company under the distinct understanding and'agreement that
$2,400,000 of the prior lien of the $5,000,000 loan had been paid
EA RN IN G S AN D E X P E N S E S F O R TW O T E A R S .
off, and this fact might invalidate the security of the mortgage
to the city, should the $2,400,000 be returned to the company
1887.
1886.
Increase.
and the entire $5,000,000 mortgage extended. There exists
Gross earnings....................... $6,518,061 82 $5,602,240 39 $915,821 43 only $2,278,000 in prior liens to the mortgage securing the un
Operating exp en ses.............. 4,6bO,124 30 4,045,040 02 635,084 28
paid balance of the Baltimore & Ohio debt of $5,000,000 to the
N et earnings................... $1,837,937 52 $1,557,200 37 $280,737 15 city, so that the city is fully secured and justified in extend
ing the unpaid portion of the loan.”
Per cent oper. exp. to earns.
71*80
72*20
Dec. 0*40
Gross earnings per m ile__
$6.259 54
Cape Fear & Yadkin Talley.—The City of Wilmington.
$5,735 29
$524 25
Operating expenses p. m ile.
4,494 50
4,141 11
352 39 N. C., has voted to subscribe $150,000 to the ¡stock of this
N et earnings...................
$1,765 04
$1,594 18
$171 86 company.
Chesapeake & Ohio.—Thursday, March 15, is the date on
“ The income account of the Wabash Western Railway Com
before which Series “B” bonds must be deposited with
pany embraces only the nine months of its corporate exist or
Messrs. Drexel, Morgan & Co., in order to draw interest from
ence, and a balance of $450,816 is the actual net profit of the November
1, 1887. On bonds deposited after March 15, 1888,
lines operated during the period named, over and above all
will accrue only from May 1, 1888.
expenses and fixed chargee. The operating expenses include interest
The certificates for Series “ B ” bonds it is expected will be
all expenditures for new rolling stock and improvements, no listed
on the Stock Exchange next week.
construction account having been opened on the books of
Chester Talley.—This railroad, which extends 21% miles
the new company.
The expenditures during the year,
which may be called ‘extraordinary,’ as properly belong from Bridgeport, opposite Norristown, to DowningtowD, Pa.,
ing to construction or equipment account, may be safely has been reorganized under the corporate title of the Phila
estimated at over $250,000, without including any portion of delphia & Chester Valley Railroad. Austin Corbin was elected
the cost of 5,849 tons steel rails of 63 pounds weight per yard, President of the reorganized company and William R. Tay
laid in the main track. The consequence of these liberal but lor Secretary and Treasurer. The capital stock of the new
necessary expenditures is, that the physical condition of the company will be $750,000, of which $200,000 will be preferred
property is better than at any former period in its history. shares and $550,000 common stock. It was decided to issue
Some further appropriation in the same direction may be $500,000 mortgage bonds to refund the outstanding obliga
necessary during the current year, but the expense of operat tions, of which $400,000 will be preferred bonds bearing 5 per
ing the road will become lighter in the ratio of improvement, cent interest and $100,000 will bear 4 per cent interest. The
and the idvantages gained in point of safety and convenience Chester Valley Railroad was purchased at public sale on Jan.
17 last by Austin Corbin, in the interest of the Reading Rail
in the transaction of business can hardly be overestimated.
' “ The company owes no floating debt except such as may be road, and will be worked as part of that system.
included in the amount of current expenses and traffic bal Chicago St. Paul Minneapolis &Omaha.—In the editorial
ances, unavoidably carried over from month to month in the columns of the C h r o n ic l e will be found an article giving the
method of adjustment and payment.” * * *
earnings and expenses of this road for each month of 1887,
“ In the month of November an arrangement was completed and also the income account for the year, as compared with
with the St. Louis Ottumwa & Cedar Rapids Railway Com- previous years.
Paay. under which that read was consolidated with the
Cincinnati Southern.—The Ohio State Senate has passed
Wabash Western, and mortgage bonds were issued thereon to Senator Mack’s bill for an extension of the lease of this road,
the amount of $822,000. These bonds bear interest at 7 per with only one negative vote. In advocating the measure,
cent for two years from October 1, 1887; at 6 per cent for Senator Mack referred to the lessee’s claim for $504,000 up to
three years thereafter, and at 5 per cent for the remainder of December, 1886, and said: “After mature consideration the
the time to 1937. The road extends from Coatsville tc Ottum Board of Trustees prepared the bill now presented for con
wa, Iowa, 43 4 miles, and forms part of our Iowa line, sideration and for passage and the lessee was asked to post
It has been operated by the Wabash Company for many pone pressing the claim until this effort could be made to
years.” * * *
secure relief. The company consented to this arrangement.
“ In accordance with the agreement of the purchasing
“The objects and purposes of this bill are simple. There is
committee and the holders of general mortgage and collateral nothing to conceal, and those who have criticised the motive
trust bonds of the WAbash St. Louis & Pacific Railway Com for offering it and assailed its justice, will on the simplest
ply » a plan of reorganization has been agreed upon between statement appear in profound igno ance.
that committee and representatives of the holders of all classes
“ If the bill were, as its opponents seem to believe, a grant
of bonds secured by mortgages on the lines east of the Missis of power to simply extend an unexpired lease, then it should
sippi River. This plan, dated November 21, 1887, required be defeated, for there is no reason for simply renewing a lease
the co-operation of the Wabash Western in order to carry out having eighteen years to run until its’expiration is at hand.
the contemplated consolidation with the east lines, and by But its objects and purposes are far different.
instructions of the board of directors and consent of the stock“ As I have before said, the city, after a large expenditure
holdeis the agreement has been executed on behalf of this for the railroad, practically leaves it without terminal facili
company. As the owners of the capital stock of the Wabash ties. The nec<ssity of remedying this is most apparent.
Western Railway Company and of the equity of redemption Moreover, in order to make the railroad of future utility and
Total.............................................. 5 07,891,570 214,455,923 228,715,051
TH E CHRONICLE.
820
of increased value, it is essential to construct branch roads or
feeders connecting it with important cities situated some dis
tance from its line, such as Knoxville, Nashville and other
places.
, ,. . ,
«, ,
‘»‘That the city cannot and will not do this is clear, I hat
the lessee company, with a lease of only eighteen years, cannot afford this outlay, is also clear. However, with an assured
extension of the lease, the lessee.company will be enabled and
can afford to procure terminal facilities, construct branch
toads to large cities, construct spur tracks to mines, and do
many other things which w ilt redound to the great advantage
of the city of Cincinnati and make the road of increased value
and utility.
.
,
, '
. ..
“ The securing of such essentials and such advantages is the
sole object and aim of the first section of the bill now before
you. It is especially provided that whatever terms and con
ditions may be imposed, the arrangement must meet the ap
proval of tne Sinking Fund Commissioners before it can
become effectual. No one can doubt but that the benefits and
advantages to the city must be fully proportionate before the
tw o bodiep, the Trustees and the Sinking Fund Commission
ers, w ill agree to an extension of the lease.”
__
.
Cleveland & Canton.—Boston reports state that the $6bU,000 five per cent bonds of the Coshocton & Southern Railroad
offered to the stockholders of the Cleveland & Canton have all
been takeD.
Cleveland Columbus C incinnati & Indianapolis.—The
parniogs, expenses, &c. (including the Cincinnati & Springfield and Indianapolis & St. Louis), for January, were as
follows :
G ross earn in gs.............
Operating ex p en se s...
,----------Jan u ary.------18«8.
1887
*574,994
$554,085
4.40 004.
406.?
N et ea rn in gs.........
In terest, ta x es, & c ....
*125,930
156,235
$147,816
171,670
def. $30,305 def. $23,854
78,901
18,575
B a la n c e ................
Additions to property.
D eficit................................................................
$48,880
$102,755
—In advance of the annual report, we have the following
statem ent of earnings and expenses, including all lines*
IP 87.
■Gross earn in gs................... $«,056,000
■Operating ex p en ses......... 5,235,730
1886.
$7,190,936
4,757,789
Changes,
Inc. $865,0
Inc. 477,933
- N et ................................$2,820,278
T a x e s and c h a r g e s.......... 2,023.277
$2,433,147
2,047,902
Inc. $387,131
Dec. 24,625
$385,245
314,580
Ino. $411,756
Ino. 116,941
$70,665
Ino $294,815
Balance . . . . ............... $797,002
B etterm en ts.......................
431,521
u r p lu s.. ..................
$365,480
[VOL. XLTVI,
Secretary of State of Ohio of the Springfield <fc Columbus
Railway Company, capital stock $1,000,000, owned by persons
in the interest of the Indiana Bloomington & Western. The
distance between the two cities by the new line will be about
forty miles, and it is said that work will be pushed immeiately on the road.
In tern ational (Mexico).—A press dispatch from the city of
Mexico, March 1, via Galveston, said: “ The International
Railway was opened for business to-day. Mr. Eccles, former
ly of the Denver & R o Grande road, is general freight and
passenger agent here. The International runs through rich
mineral and agricultural country from Piedras Ncgras, oppo
site Eagle Pass, Texas, to Torreon, on the line of the Mexican
Central Rtilway. It was built by C. P. Huntington, and asso
ciates, without a dollar of subsity from the Mexican Govern
ment. It is practically part of the Southern Pacific system.
It is a substantially built broad gauge road, and is equipped
with Pullman buffet cars, which are run through to this city.
Only one change of cars is necessary between this city and
NrW Orleans, or Washington, or New York, or other Ameri
can cities. The road shortens the distance to New York or
Washington, via New Orleans, 553 miles. The road passes
through the coal deposits in Northwestern Mexico acquired
by Mr. Huntington some years ago.”
Jacksonville Tampa & Key West.—The gross earnings of
this road for the month of December, 1887, were $46,237 ; for
the month of January, 1888, $49,249, and for the month of
February, 1888, about $57,947. There was a slight reduction
during the months of December and January compared with
the same period last year, and this was owing to the fact that
rates were reduced by the Railroad Commiss on in Florida
about 30 per cent. The month of February shows an increase
over last year notwithstanding the reduction in rates.
Lehigh & Eastern.—This road, extending from Tomhicken,
Luzerne County, Pa., through Stroudsburg; to Matimoras,
with its branches, right of way, &c., was sold at Wilkesbarre,
Pa., March 8, for $354,000 to Silas W. Newberger, representing
Philadelphia people. It is stated that a new company will be
formed to construct a road from Sunbury to Port Jervis, about
140 miles, to connect with the Port Jervis Monticello & New
York and Poughkeepsie Valley, with the intention of making
a through route from the coal regions to Boston and central
New England.—22.22. Gazette.
Louisiana & Missouri R iver.—Operations in 1887 compare
with 1886 as follows:
1887.
Gross earnings, less ta x e s.......................................$573,475
Rental, 35 per c e n t ...: ............................................ $200,716
All c h a r g e s...........................................................
140,401
1886.
$538 ,6 0 0
$6l>.315
9,577
$50,323
1 3,089
Balance.........
Interest on note
138,187
Dayton F ort Wayne & C hicago.— At Dayton, Onio,
$37 ,2 3 4
J udge Elliott rendered a decision in the Dayton Fort Applicable to reduction of n ote........................... $50,738
Wayne & Chicago receivership case, and granted the prayer Am mint, of note January 1 ,1 8 8 7 ....................... 128,¿57
■of the plaintiff. The receiver was not named at the time. Amount of note January 1 ,1 8 8 8 ................
$77,619
The opirion was based on 21 findings of facts,
It
The Boston Transcript remarks : “ This note is owed the Chi
finds judgments, mechanics’ liens and suits pending bonds cago
& Alton, and constitutes the only floating^ debt of the
issued by the Ives management to ihe amount of $1,250,000, Louisiana
& Missouri River Company. Interest is payable at
and while their validity is disputed, by some means they eight per cent.
interest in 1888 will amount to $6,208, and
found their wav into the market and are held against the it is evident thatThe
tne note will be all but paid off this year, if it is
road. The court finds that the corporation is hopelessly in not quite. At any
rate, it looks as if Louisiana & Missouri
solvent. The whole property from Fort Wayne to Deans, 243 River preferred (of which
is $1,010,000, not including
miles, is variously value 1 at $2,000,000 to $2,500,000; admitted the $329,100 guaranteed bythere
Alton) might come within
and probable debt together, $3,110.000; possible indebtedness, sight of dividends next year. the
ith the note out of the way,
if all claims are sustained, $4.594,000. Wherefore the court e a r n in g s over all charges of W
$60,000, as in 1887," would give
finds that the best interests of all parties seem to demand the five
per cent and a substantial surplus, and it seems as if this
appointment of a receiver to take charge of and manage the ought
to be brought about by 1890 at the farthest.”
property.
M inneapolis & St. L o u is—The interest on the Improve
Duluth South Shore & A tlantic—D etroit Mackinac &
M arquette.—Notice is given to the holders of the old land ment and Equipment bonds of 1922 was last paid in July, 1887,
grant bonds that 35 per cent in common stock of the Duluth and the interest on the second mortgage income bonds, due
South Shore & Atlantic Railway Company will be distributed 1890, is not in default. A correction in the I n v e s t o r s ’ Sup
to the registered holder r of land grant bonds on the 26th day p l e m e n t has been made to sho v these points correctly.
Mobile & Birm ingham .—This railroad was completed
of March, 1888.
throughout in February, thus opening a new connection from
Georgia P acific.—Messrs. Bryan, Rutherford and Maben,
Owning and representing more than a majority of the second Mobile over the East Tennessee Virginia & Georgia Railway
mortgage income bonds of the Georgia Pacific Railway Com to all points north.
New York & New England.—The statement for the quar
pany, and at the request of other large holders, in order that
they may be assured of some regular fixed income from th9 ter ending Deo. 31 is as follows, including in 1887 the Norwich
investment, have arranged with the company the following & Worcester Railroad:
1886.
1887.
settlement, provided the holders of at least $4,500,000 of the
$1,042,169
ea rn in g s.................................................. $1,344,204
bonds and certificates signify their acceptance of the terms Gross
661,890
897,873
»97,873
Operating exp en ses.........................................
proposed by the 1st day of April, 1888: For 50 per cent of the
$380,279
$446.331
principal and past due interest, up to and including the 1st of
N et earnings....... ........................................
32,293
1,493
ADrii next, of the now outstanding income bonds, there will Other incom e...........................................
be given new 5 per cent fixed mortgage bonds, subject only
$412,572
Total incom e................................................ $447,824
302,402
to the first mortgage of $10,000 per mile, the first coupons on F ixed charges...................................................... 3388,179
88,170
which w ill be payable 1st October, 1888, and the issue of
$110,170
.
$59,645
Surplus.......................................... ...............
which w ill be limited to $9,000 per mile. For the remaining
New York Pennsylvania & Ohio.—In London this com
50 per cent of principal and interest, there will be given 5 per
cent income bonds, issue limited to $9,000 per mile of com pany offers £240,000 five per cent equipment trust bonds at oo
pleted road, the payment of interest on which may reasonably per cent. The equipment bought with the net proceeds of the
present issue of bonds is to be vested in a trust equip nent,
be expected in the near future.
Lists for signature may be found at the offices of Mr. Joseph being leased at a rental sufficient to cover 8 per cent on the
Bryan in Richmond, Va.; Mr. Rutherford, 58 Wail Street, or amount of is-ue, 5 per cent to be interest and 3 per cent sink
Mr. John C. Maben, 24*Broad Street, New York; or those pre- ing fund, redeeming the issue within twenty years.
ferr'ng it may deposit their bonds and interest certificates with
Ohio & M ississippi.—In London a committee representing
the Central Trust Company of New York, for which negotiable the preferred and some of tbe common shareholders of Ohio &
Mississippi RR. agreed that it is to the interest of both classes
receipts will be given.
. Indiana Bloom ington & W estern.—Springfield & Colum of shares that a settlement of the question of cumulative rights
bus.—Articles of incorporation have been forwarded to the nf nrAferre d should be made. It was proposed to effect a com-
IÏM akch 10, 1888,]
THE CHRONICLF.
321
promise by giving one common share, to be received in set
tlement of ali claim for past arrears, and giving up all claim a r i ^ i n t e r ^ t t h ® total amounts, prinelpa^
te cumulative rights in the future, it being unoerstood as an
essential condition of this compromise that the directois make S m l t S y 0^^om Y bV s^
eatisfactc ry arrangement to obviate the necessity in the future
of using net earnings of the road for capital purpose s.
Pr*n'I*I)a1l a?d Interest rem aining
In New York the committee of common etcckholdeis con unpaid as*of t h ^ l s t 11«»^ Tniv
sider this proposition as very extravagant, since it would
increase the common stock by $4,000,000, and they claim that
if the courts held the preferred stock to be strictly cumulative
there would be no way for the holders to enforce their claim.
Still, the subject is a proper one for ccinpromise, and if com
mittees fairly representing a majority of each class of stock
holders could get together and discuss the subject fairly there
is little doubt that tome basis of agreement could be reached
Mr. Vanburgh Livingston, 40 New Street, is chairman of thè
New York committee, which invites the co-operation of com
mon shareholders abroad.
Oregon & California.—This railroad company asks the per cent; for ten years, commencinsr i r <iq «Avon
V*
on®
Stock Exchange to strike from the list the $9,000,000 Oregoa for
tw enty years, ^ m e n c i “
o f.
?f
& California 6 per cent bonds, and substitute in their place ten years, commencing 1929, two per cent
$14,254,000 5 per cent 40-year bonds. These bonds are created sifm and deliver to the Secretary of the T reasury^ mSrtga“ on all
property
ot
every
kind
n
ow
belonging
to
it
or
its
branch
S
t
nc
i
i
d
w
by the readjustment of the bonded debt. The $2,610.000 2d
lin g stock and property that m ay hereafter b ea cq u ired su h teefc 4 «
mortgage ? per cent bonds due 1933 In ve been canceled and id
any bona tide prior paramount lien or mortgage.
u
’ SUDject to
the mortgage satisfied. Of the $9,020,000 1st mortgage 6 per
T H E GO VERNM EN T’S L IE N .
cent bonds due 1921, $415.000 have been retired, leaving the Within ninety days after default in the paym ent of interest or princi
amount outstanding $8,605,000, all of which, except 106 pal the entire debt is to become due and payable at the option of tha
have been deposited with a trust compmy as. collateral secu President. These bonds are received only in provisional pavments The
rity for the new bonds, but subject to cancellation. The com statutory lien of the Government remains in full f, rce assecuritv for t h l
companies’ debts to the United States until all bens on the p n m e itl
pany has substituted therefor another first mortgage to secure covered
shall be paid and discharged
propoixy
an issue of new 5 per cent 40-year bonds at the rate of $30 000 The Government .is allowed to pay off any prior lien or nnrt of
irv
per mile of standard gauge and $10,000 per mile of narrow case the com pany defaults, and then requ irerep aym en t w ith exp. n«es
interest. The companies are permitted to extend
guage constructed or acquired, hut the total to be issued shall and
their first m ortgage debt n ot exceeding fifty years, and at a rate of in te r
not exceed for «11 purposes $20,000,000 in all. Tne amount of est
not exceeding four per cent, unless for good cmise shown the Sec?£
bonds outstanding at this date as represented by the 475 miles tary of the-Treasury consents to a rate not exceeding live per cent No
com pensation for services is to be paid u ntil the first instalm ent of pwm
of read completed amounts to $14,254,000. This constitutes cipal
interest n ext due has been paid, and no dividends are to h i de
the entire bonded debt of the company, except 106 bonds claredand
unless earned m the preceding year, and the company has paid all
of the old i-sue which are still outstanding.
the interest on its Government and other debts when due.
1
no event is a dividend of more than four per cent to be paid unless
San Antonio & Aransas Pass.—Gross earnings of the San anInequal
am ouut is paid on the principal of the debt to the G overnm ent
Antonio & Aransas Pass Railway Company for six months on the bonds last to become due. The companies m ay pay off the debt
ending Dèe. 31, 1887, were $384,467; net earnmgs, $125,985" at any tim e at its full value so long as its bonds are owned by the United
States, or the Secretary of the Treasury m ay sell ail the bonds
fixed interest charges, $91,380; net surplus, $38,605.
’ face
value w ith accrued interest, w ithout the biVyer having any recourse
Second Avenue (N. Y.)—This horse railroad company gives on the Government for the paym ent thereof; but h r sh T ifS o t felT ess
all. The companies are required to consent to the instituting nf
notice to the holders of the 7 per cent consolidated converti than
ble bonds due on or before May 1,1888, that these bonds will suits at the demand of the Department of Justice in their own nam^f
shalTbe
charged
again stw llom “ 7 violation of law or duty
be paid, principal and interest, March 10, at the Central Trust
Company, and that the interest upon said bonds will cease on A ny company refusing to accept the provisions of the act is required
to pay into the Treasury under the Thurman act, seventy-five per cent
that date. JJ
of its n et earnings, and that act is amended so as to extend to vheVmn
St. Paul & Dnluth.—The common shareholders of the St. panies not before includi d in its provisions. On the acceptance o/th*«
Paul & DuluihR dlroad held a meeting at the office of Messrs! terms of the act by any company, the present law relaung to G ovem ent directors, paym ent of net earnings, or the withholding of anv
Gwj nne & Day. The permanent committee of com mon stock m oney
otherwise than as provided, or forbidding the m ortgaging of it*
holders presented a report which was approved, and the com m
property, are repealed; so that such company m ay have ordinary riehts
mittee is continued. The report of the committee protested and powers of raiiroad com panies generally, except as lim ited b y this
against the use of the money or credit of the St. Paul & Duluth
T H E PA Y M EN TS.
for the proposed new line until such use shall be lawfully
are included in the report show ing that the semi-annual p ay
sanctioned by the unanimous vote of the stockholders. Also mTahies
ents of the Union Pacific system at the beginning of each period tixJa
against the appropriation of any money of the St.PauI &Duluth the bill w ill be as fo llo w s:-! 889, $847,200; 1
1,117,245;1909 $1,164,900; 19 2 9 ,$ 1,376 ’706. T h e t o t a l a m o u r n k S
to the uses ot the corporation known as the Shoit Line over $cipal
and interest, to be paid m each period w ill he $16,937 870 torVla
and above the $500,000 bonds guaranteed as the original con first period,
$21,248.500 for the second period, $40:400,460 for the t hi?rt
sidération of the lease. They also object to any further nego period
and $24,420,850 for the fourth period, or a total of $103 0 0 7 6 8 0
tiation of the $2,000,000 of bonds authorized that may inter Of this total amount $52,950,000 w ill he p a y m e n tr o n prh.cinal an?i
interest paym ents. The report says that it clearlv a n n e a l
fere with the return to the tiustees of the land grant of the $50,057,680
the whole amount that the Union Pacific w il pay underthe reoufr«v
proceeds pledged by statute to secure mortgage indebtedness that
m ents of the bill, added to the present paym ent of the sum s in th e^ in k"
Slnj£~
and against the use of any accruing proceeds from lands or ing fund ($7,734,083) w ill he $110,741,763.
report* continuing, says that the average m aturity of the debt n f
stnmpage for any other purposes than those for which they theThe
com
pany
is
July
1
",
1897,
crediting
the
com
pany
w
hh
com
m
encing
stand pledged by the laws of Minnesota.
J to pay the principal nine years before it is due and paving thereon t h f
A ju st deduction of the same number of years after
Terre Paute & Indianapolis—A dispatch from Terre the debt$20,381,583.
is due should be made when speak ing of the actual extension
Haute. Ind., March 8, said : “The 11,160 shares of stock of the Thus, fairly
and properly, the extension is to he regarded as not more
Terre Haute & Indianapolis Raiboad and the 4,446 shares of than fifty years less eighteen years, or thirty-two years. But. takingthe stock of the Terre Haute & Logansport Railroad which into account the large partial payments, increasing each paym ent and
the debt every six m onths, under this plan the average exten
were pledged by Henry S. Ives in June last to secure the pay reducing
of the debt as a whole does not exceed tw enty years
6
ment of the balance due from him to President W. R McKeen sion
In consideration of the extension all the earnings of the road bv Gov
ernment
transportation
on
the
roads
owned,
leased
or
operated
bv th«
®n lÌle Purchase of the Yandalia line, were sold this afternoon com pany, shall he applied to the p ajm en t of the current m aturing
for $750,000, President McKt en being the purchaser.”
instalm ents of principal and interest, and no money is to he paid bv the
Texas & Pacific.—A special meeting of the Texas & Government for transportation or services of any kind over the aided or
lines until the n ext due instalm ent shall he fully paid
Pacific Railroad stockholders was held this week to ratify the non-aided
additional security, says the report, offered by the com nanv in
execution of the two new mortgages of $25,000,000 under the mThe
on its branch lines, and all other property m ay not be as great
plan for the reorganiz itiou of «he company. The first mort asortgages
it seems, but it is all the com pany has, ano far more than the Gov
gage is payable in gold, A. D. 2000, with interest at 5 per cent ernm ent lien now c o v e r s-fa r more than could be subject to the claim of
on any ioreclosure under existin g law s
'
I * '« ™ - - , 2 » 5 rstJ couP°n is due December 1, 1888, and theIn Government
the report says henceforth the paym ents to the Govern
$3,951,000 of the bonds are to be held in reserve for the m entconclusion,
are fixed in amount, and not dependent on percentages o f anv
redemption of the first mortgage on the eastern division when kind. They are tw ice as much at the very outset as they were last rear
increase largely from tim e to time. There is no further risk of loss
it becomes due, and to settle the claims of the State of Texas oand
The second new mortgage of $25,000,000 is payable in gold in n account of the sinking fund.
the year 2000, with interest at 5 per cent annually in gold,
—An advertisement in ihe C h r o n ic l e stales ihat the fol
payable out of the net income of the company. There was lowing
committee of Chesapeake & Ohio bondholders has
no opposition to the plan of reorganization or the making of been appointed
by those in opposition to the Drexel-Morgan
u’8®'-68’
co,rJSent
aii bondholders, except about plan, viz.: William Strauss, Charles Guidet, William H.
$iuu,000 having been obtained some time ago.
Young and C. W. Branch, Richmond, Va.
Union Pacific-Central Branch Union Pacific.—The —The annual statement of the Connecticut Mutual Life
Mouse of Repr. sentatives Committee on Pacific Railroads has Insurance
of Hartford is published in the C h r o n i
at length agreed unanimously to a bill for the salem ent c l e to-day.Company
This company now has net assets of $55,128,568
rL îîlf T?m-«n Pacific debt and that of the Central Branch of which $32,844,664 is invested in mortgages on real es’tatel
P n|°n Pf,01^10" The Central Pacific and Western Pacific are The surplus of the company over the amount required to rein
n^th Jle-/ledn Î y-another b1”- The bill now reported by Mr. sure all its risks is $5,486 430 by the Connecticut 4 per cenfc
Cha!uman of th,e H°use Committee, should ap- standard. Mr. Jacob L. Greene, the well-known President of
-?ec SU6 tiie aPProv*d °f Congress and become a law;
company, has made a great point of care and conser
“ S fauces seem far better than any bill heretofore this
vatism in its management, by which saft ty for the policy
K i w L T r The main features of the bill are outlined in holders
is made the chief consideration rather than the net
the Washington dispatch; s as follows:
ting of a large amount of new business.
g
TH E CHRONICLE.
322
^ tp o x ts
nnä
I Y o l . X L .V I.
íJ o c u m e u ts .
FORTY-FIRST ANNUAL REPORT OF THE PENNSYLYANIA RAILROAD COMPANY.
Of f ic e
of the
PENNSYLYANIA RAILROAD COMPANY,
P h i l a d e l p h i a , March 3d, 1888.
The Board of Directors submit herewith their report for the year 1887.
MAIN LINE AND BRANCHES, P H ILA D E LPH IA TO PITTSBURG.
Earnings..
E xpenses.
$35,305,728 40
. 22,328,536 29
N et earnings........................................................................ - .............
Add interest from investm ents (in cash), also for use of equipment and from other item s
$12,977.192 11
. 5,162,808 59
Total .
......................................................... ......... . ......................... ............................ ...........$18,140,000 70
D educt rentáis paid branch roads, interest on equipment, interest on bonded debt, State ta x on dividends, and
„
other ite m s....................................................................................................... ...................................................................................... 7,698,714 06
$10,441,286 6 4
N et income Pennsylvania Railroad D ivision................................... - ..............- ............................................
PHILADELPH IA TO NEW YORK AND BRANCHES.
$16,328,653 46
. 12,301,000 96
Earnings..
E xpenses.
N et earnings from operating.
Add interest from in vestm en ts.........
$4,027,652 50
532,102 35
Total income.............................................................. .................................................. .
Deduct payment on account of dividends, interest on equipment, &c ...........................
$4,559,754 85
4,787,745 63
227,990 78
N et loss under the lease of United New Jersey Railroad & Canal Company’s property.
$10,213,295 86
Balance.
PHILADELPH IA & ER IE RAILROAD.
$4,036,931 27
2,457,047 55
Earnings.
Expenses
N et earnings............................................................................................................... - — - .......................................................
D educt interest charged for use of equipm ent................................................................................................................................
i b / ,o 4 i i d
N et earnings payable to Philadelphia & Erie Railroad Company as ren tal.........- ............................. ................................................................
$1,412,542 29
SUMMARY.
$10,441,286 64
227,990 78
N et income Pennsylvania Railroad D ivision
N et loss New Jersey D iv isio n ............................
$10,213,295 86
Balance after deducting loss on New Jersey D ivision
$10,213,295 86
From this balance of incom e for the year................ ............................... - .......................................................................................—
the follow ing amounts have been deducted, viz :—
P a y m e n t t o f u n d f o b t h e p u r c h a s e o f s e c u r it ie s g u a r a n t e e d b y t h e P e n n s y l v a n ia R a il r o a d
C o m p a n y ..................................................................... .................................................. ...............................- ............................................
P e n n s y l v a n ia R a il r o a d C o m pa n y ’s C o n s o l id a t e d M o r t g a g e B o n d s , sinking fund account...............................
A l l e g h e n y V a l l e y R a il r o a d C o m pa n y —
D eficiency in m eeting interest guaranteed by P ennsylvania Railroad Company................... .
$697,865 00
Less am ount refunded by receivers, under order of court, on account of coupons due October
1st, 1 8 8 7 ...........................................................................................................................................................
345,030 00
$78,623 62
324,800 00
352,835 00
A m e r ic a n S t e a m p s h ip C o m pa n y —
Interest guaranteed by Pennsylvania Railroad Company..............................................................................................
Am ount paid in settlem ent of balances under Trunk Line pool in 1 8 8 7 ............................................................................
P aym ent of balance due on account of liability for the destruction of private property by fire in N ew Brunswick,
Am ount expended in extraordinary repairs and im provements, not properly chargeable to capital account..............
90,000 00
167,183 28
175,000 00
1,241,115 30
2,429,557 20
Balance ....................................................................................................................
Out o f which w as paid a dividend of 5*3 per c e n t ..................................................
$7,783,738 66
5,418,701 75
Leaving a balance of ...........................................................................................
D educt amount charged off in settlem ent of sundry accounts ..............................
$2,365,036 91
381,437 74
Total amount transferred to credit of profit and loss for the year 1887
Add am ount to credit of profit and loss December 31st, 1 8 8 6 ....................... *__
$1,983,599 17
15,625,348 35
Balance to credit of profit and loss December 31st, 1887
$17,608,947 52
The preceding statements show a large increase in the gross revenues of your Company; after deducting therefrom the
operating expenses and rentals of leased roads, and the losses on the United Railroads of New Jersey Division, there remains
a balance of $10,213,295 86. Deducting from this sum the amounts properly chargeable thereto, including such portion of the
extraordinary expenditures as your management considered it unwise to charge to capital account, the result was a net
income for the year of $7,783,738 66, as compared with $6,920,896 90 for 1886.
After making the proper debits and credits to profit and loss, the amount carried to the credit of that account for the
year was $1,983,599 17, making the total amount now standing to the credit of profit and loss $17,608,947 52.
The increase in the gross revenues of your entire system, and especially of the lines west of Pittsburg, during the
summer months, arising from the unusual prosperity of the manufacturing industries of the country, seemed to warrant
your Board in declaring a dividend of three per cent in November, making for the year a total dividend of five and a half
per cent, as against five per cent in 1886.
Jgfei It will be noted that your investments in the securities of other companies, made from time to time by your management
for the purpose of developing and drawing to your lines the traffic of the territory naturally tributary thereto, amount to the
sum of $108,709,107 47; and that the direct cash revenue therefrom for the year was $4,488,027 18, being largely in excess of
the interest on your funded debt.
The traffic statements to be found in the subsequent part of the report show an unusual movement, both of freight and
passengers; but, notwithstanding the general prosperity already referred to, the average rates obtained on the tonnage were
less than in 1886.
The United Railroads of New Jersey Division continue to show a fair gain in the volume of both the freight and
passenger business, more especially in the latter; but, as stated in the annual report for 1886, the exceptional expenses
connected with its traffic have prevented your Company from obtaining improved net results. It is gratifying to note^
however, that the deficit occurring on this division arises almost entirely from the operations of the branch lines, and of the
Delaware & Raritan Canal. The net earnings of the main line between Philadelphia and New York were very nearly
Sufficient to provide for the entire dividends and fixed charges upon that portion of the system.
March 10, 1888.]
THE CHKON1CLE.
323
The Philadelphia & Erie Railroad Division shows an improvement in both gross and net earnings, and was able to provide
not only for all its fixed charges, but to appropriate a reasonable amount to the payment of obligations heretofore given fo r
advances made by your Company.
®
w
The loss to your Company upon the United Railroads of New Jersey slightly exceeded that of last year. The exception»
service required upon that division, in connection with the expensive character of its terminals, seems to preclude th*
possibility of operating it as economically as the other roads in your system.
®
There has been expended for construction, equipment and real estate a3 follows
P ennsylvania Railroad and branches........... ................................
■United Railroads of New J e r se y ..........................................
.............................................................................................................................. $ 2 ,7 1 4 ,6 7 9 15
Philadelphia & Trenton Railroad....... ................................. ! ! ! ! ! ! ! ! I ! ! 1 /! I I ! ! ! ! ! ! 1 /! I ! ! ! 1 I ! I ! " .................... ............................. *........................
1,146,671 1 7
*And for im provem ents and extensions on branch and a u x ilia r y iines'operated by 'the"Company’
I
....................
2 2 1 1 ’867 9 2
Total*........................................................................................................................... J.................
..................----------On account of these advances there has been received from som e of the companies in cash. .
................................ - ............- ........
.................. ......................- .............
080,138 4 3
Total am ount expended on capital account in 1 8 8 7 ............. ......................................... ....... .............
$5,610,176 68
This amount was supplied by the issue of capital stock.
There were used on the Main Line, in construction and repairs, 28,168 tons of steel rails and 1,409,151 ties- on the United
Railroads of New Jersey, 10,090 tons of steel and 536,386 ties; on the Philadelphia and Erie Railroad, 2,504 tons of steel nnd
153,656 ties,—making a total of 40,762 tons of steel and 2,099,193 ties.
There were built at Altoona, and your other shops east of Pittsburg and Erie, for the Main Line and other roads in your
interest, on capital and repair account, 124 locomotives, 156 passenger cars, 11 baggage and mail cars, 2,609 freight cars and
180 cabin and maintenance of way cars.
The principal of the debt due to the State of Pennsylvania on account of the purchase of the main line was reduced
.durmg the year by the payment of $365,407 64, which was charged to capital account, leaving a balance of $1 616 663 83
After the payment of the usual semi-annual instalments until July 31, 1890, there w ill then be due $635,654 94 upo’n n a v m ^ i
of which this debt w ill be extinguished.
’ ^
^ en“
Under the provisions of the consolidated mortgage of the company there was set apart, on the first day of Julv last m u .
of the net income, $324,800 as a sinking fund for the redemption of the outstanding bonds secured by that mortgage. Their
market value was too high, however, to permit of their purchase, and the amount was placed to the credit of the trustees of
the sinking fund.
ux
^ S f i o m T ^ m o r t g a l l ? ^ S l S S p t e 1:M ® . ! *
°f the trust’ lncluding the
Of which there has been invested as follows :
Bonds secured b y consolidated m ortgage purchased to date, at par valu e................
F irst m ortgages secured upon real estate bearing four per cent interest per a
n
n
u
Cash on hand December 3 1 ,1 8 8 7 ..........................................................................................
$2,767,656 0 0
qn veo ovo no
9879*900 00 *
m
‘
~~
------------ ----------- $ 2 ,7 6 7 ,6 5 6 0 0
There are now in the sinking fund, for the redemption of the obligations of the various companies forming the United
New Jersey Railroad & Canal Company, securities of the par value of $4,464,100. There is also a cash balance uninvested
by the trustees, of $70,150 55, making an aggregate of $4,534,250 55, for which you will in the future, in accordance with the
terms of the lease, receive bonds to be issued under the general mortgage of that Company.
The trustees of the sinking fund for the redemption of the trust certificates issued for’the purchase of the shares of the
capital stock of the Philadelphia Wilmington & Baltimore Railroad Company, were not able to purchase any certificates
unng the past year at the limit fixed in the trust agreement, and therefore returned to your treasury $391 704 34 th
amount appropriated for that purpose. The total amount of these certificates purchased and canceled to December 31 IRST*
is $1,826,000, leaving outstanding $8,174,000, beiog the same as reported last year.
*
f
Under the Car Trust system a further issue of $1,000,000 of four per cent certificates was authorized for the equipment
of your roads. Under this authority, and that heretofore conferred, there were furnished during the year 350 box and 44
refrigerator cars, 2,557 hopper and long gondolas for the Main Line, 1,766 box cars and 500 flat cars and gondolas for the
SmpTn Ch y°Ur C°mpany iS interested west of Pittsburg, and 1,175 gondolas, subleased to the Northern Central Railway
and B of the Railway Car Trust of Pennsylvania, representing respectively
1,000 box cars, at a cost of $445,000, and 1,000 hopper gondolas, at a cost of $430,000, bearing interest at five per cent ner
annum, were paid and canceled during the year. Five hundred of these box cars had been sublet to the Pennsvlvani
Company for Union Line service, and are now owned by that Company. The remaining 500 box cars and 1,000 hoppe?
gondolas have become the property of your Company.
i'PV
1
^ m!
t&
°
................................... f l f a ? - 855 00
The cars subleased to affiliated lines, viz.:
3,206 cars Northern Central R ailw ay Company..................................
„ A ,
250 cars A llegheny V alley Railroad Com oanv.............
................ *...............................................?................ $1,5 8 4 ,650 00
152 cars N ew York Philadelphia & Norfolk Railroad Company’
.
’
/
.
"
"
!
.............................................................................
ixA
’X99
* j ,
................................................................................
x00,000 99
00
1 ,822,150 0 0
Total, 42,376 cars....... _........................................................................................
$21,886,000 00
Total amount of certificates redeemed to December 31, 1887, as follows :
Am ount paid in full paym ent of 12,214 cars.............................
Am ount paid on account of 30.162 ears......
..............................................................................................
.................................................................................................... ..................................
.......
$6,329,000 00
5,865,000 00
12,194,000 0 0
Balance of certificates outstanding December 3 1 ,1 8 8 7 .
$ 9 ,6 9 2 ,0 0 0 0 0
COMPARISONS WITH 1886.
EARNINGS AND EXPENSES OP ALL LINES EAST OF PITTSBURG AND ERIE.
Gross Earnings.
Expenses.
R entals a n d Interest
on Equipm ent.
$55,671,313 13
50,379,077 00
$37,086,584 80
32,619,594 61
$4,699,211 13
4,453,745 87
$13,885,517 2 0
13,305,736 52
$5,292,236 13
earnings per m ile received from the Main Line (358 miles) in 1887 were
$4,466,990 19
$245,465 26
$579.780 69
188 6............................................ / ! / ........................................ .....................
Increase................................... ..................
in lo o o
w or©.. . . . . . . . . __
______
N et E a rn in g s.
•••»•••••••«. <p7o«oJo. d o
»
................................................ .................................... - ...........................................................................« ..................... 68 ,0 8 4 25:
Showing an increase o f................................
...............——
.......................................... .........
°n “U “ “
O *™ »1” *
3,541 41.
66*2,00 tor 1887 and 6»W,oo tor 1 8 8 6
THE CHRONICLE.
321
[VOL. X L V I,
The number of additional tons of fuel and other material moved over the Main Line and branches for Company’s usa
was 1,930,314; for the previous year, 1,443,9U4 ; showing an increase of 486,410 tons.
The aggregate coal and coke shipments amounted to 17,796,708 tons, as against 15,359,608 tons in 1886, a gain of 2,437,102
tons, or 15f87 per cent.
The total shipments of oil during the year 1887 amounted to 3,038,138 barrels, against 3,048,484 barrels in 1886, showing a
•decrease of 10,346 barrels.
The following table shows the revenue and cost per ton per mile on each Division operated by the Company, as compared
with 1886 :
Average E arn ings p er Average Cost o f Trans
portin g each ton of Average P rofit p e r ton
ton per mile fro m fto n sper m ile.
Freight one m ile.
porlation o f Freight.
1887.
1886.
1887.
1886.
1887.
1886.
1887.
1886. ’
0423,000
0244,ooo
9 272xooo
1,536 97
1,568 22
1068,000
0182,o0o
0 261iooo
466 93
465 99
28 7 -5 6
2,321-77
■Main lin e and branches...................................................
0 670iooo
0695,000
0 426,o0o
U n ited Railroads of N ew J ersey ...................................
1 2851000
1327,000
1103,ooo
.Philadelphia & Erie Railroad......................................
O523,ooo
O543iooo
A ll lines E ast of Pittsburg & E r i e ................................
0755,poo__
0730,000
Length o f L oad,
(¡files.)
0 241000
0310,ooo
9 219xooo
0 213iooo
2S7 56
0497,ooo
0492, ooo
0233,000
0263,000
2,341 46
From the above table it will appear that the result upon all lines east of Pittsburg and Erie was a reduction in th«
warnings per ton per mile of one-quarter of a mill, and an increase in expense of movement of 5-100 of a mill, with the
result of a decrease of 3-10 of a mill per ton per mile in the net profit from freight.
TABLE SHOWING TONNAGE AND PERCENTAGE OF THROUGH AND LOCAL FREIGHT.
Through Freight.
Through Freight.
Local Freight.
Local Freight.
Tons.
Percentugeof Total.
Tons.
Perrentageof Tatui.
1886.
1887.
Increase.
Tons.
1887.
1886.
1887.
1886.
1887.
1886.
Through.
Local.
28,532,175
8,442,083
6,780,411
24,242,476
7,376,522
5,234,283
92-49
73-91
87-33
91-75
72-24
84-40
136,988
145,344
16,078
4,289,699
1,065,561
1,546,128
43,754,669
36,853,281
8^7-45
86 04
298,410
6,901,388
M ain line and branches................... 2.315,460
U nited Railroads of New J ersey .. 2,979,359
983,809
Philadelphia & Erie Railroad.......
2,178,472
2,834,015
967,731
7-51
26-09
12-67
8-25
27-76
15-60
A ll lines east of Pittsburg & E r ie .. 6,278,628
5,980,218
I2"55
13-96
On the Main Line and branches the through freight east-bound increased one (1) per cent and west-bound 19 6-100 per
cent.
The local freight shows an increase of 20 32-100 per cent east-bound and 13 72-100 per cent west-bound. It will be noted
that on the Main Line and branches the local tonnage represents about ninety-two and one-half per cent of the entire traffic.
The following table shows the earnings and cost per passenger per mile on each of the Divisions, as compared with 1886:
Average E im in g s from Average Cost o f Trans
porting each Passenger
each Passenger
per mile.
p e r m ile.
1886.
2 263iooo
2245x000
1728XOOO
1886.
1887.
1886.
1887.
1886.
oO
©
tt-
18 8 7 .. .
1887.
Main lines and branches.................................................
Length o f Road.
\Mile8.)
Average Profit p er
Passenger p e r mile.
0535,000
9448,000
i ,586 97
1,568 22
465 99
U nited Railroads of N ew J ersey ............... ................
1953jooo
14191000
0560,ooo
9 547xooo
466-93
2605100o
l 937iooo
28241000
1 39:<X000
Philadelphia & Erie R ailroad............................. .........
20.14,000
2046,000
9 5 ‘!l000
95*8,000
287-56
287 56
All lines east of Pittsburg & Erie................................
212510oo
2 n 4t000
l 577XOOO
1814X000
0548,ooo
9503, ooo
2,341 46
2,321-77
It will be seen from the above that the result upon all lines east of Pittsburg and Erie was an increased earning per
passenger per mile of 11-100 of a mill, and a decreased expense of 34-100 of a mill, the result being an increased profit of
45-100 of a mill per passenger per mile.
The average distance traveled by each passenger in 1887 over the Main Line and branches was 18 8-10 miles—the same as
in 1886.
The following tables show the gross earnings, expenses and net earnings of the coal companies in which your Company
is interested for 1887, as compared with 1836, and also the amount of coal mined and sold, and the price received for same at
point of sale:
*—7*7 rT7~
’
Gross Earnings,
1887.
$8.829,718 93
1,37 7,(538 11
Increase as compared with previous year ................... - 1 ...........................................................
Total tons mined In 1887, 2,326,053*19. Increase compared with previous y< ar, 53,21a‘08 tons.
Expenses (inclvdin g taxes) 1887.
$7,976.370 48
442.436 83
Net E arn in gs.
1887.
$844,348 4 5
935,201 28
The average price p< r ton at point of sale, aggregating the results of the four coal companies for 1887, was $3 59 4-10 per
ton, as against $3-14 12-100 in 1886 ; an increase of 45 28-100 cents per ton.
LINES WEST OF PITTSBURG.
The following statement gives the result of the lines west of Pittsburg operated by the Pennsylvania Company and
Pittsburg Cincinnati & St. Louis Railway Company :
»
1887.
T h e total earnings of the P e n n s y l v a n ia C o m pa n y on lines operated directly by it were
E x p en ses for sam e period were......... ........ ...................- ..................................................... .
L eavin g n et ea rn in g s.........................................................................
From this d ed u ct:
Rental, interest and liabilities of all kinds chargeable thereto
$20 784,403 47
12,850,423 50
$7,924,979 97
7,249,463 93
$675,516 0 4
N e t profit on Pennsylvania Company’s lines
T h e total earnings of the P it t s b u r g C in c in n a t i & St . L o u is R a il w a y C o m pa n y on lines operated
direct ly b y it w ere.. v . . . . . —........, ...................... ................................................... .............................................................
E xpenses for same period w e r e -......................... ............................................. ....................................................................
$8,286,254 11
5,859,199 37
Leavix g n et earnin g s ............ .................................... ........................
$2,427,054 74
From this deduct :
R ental, inter» st and liabilities of all kk-ds chargeable thereto
N e t profit on littsb u r g Cim innati & St. Louis Railway Company’s lines
N et profit on lines w est of Pitts' oirar for 1887
N et profit.op lines w est of Pittsburg for 1886,
.... r S -
11----- -T~~+
t v m .«,*..,..»
t v -,
1,902,384 55
524,670 19
$1,200,186 23
182;450 4 0
$1.017,735 80
March IO, 1888.1
TH E CHRONICLE.
325
The other lines west of Pittsburg, on account of which your Company has assumed direct obligations, or in which it is
largely interested through ownership of securities, but which are operated through their own organizations, are the Chicago
St. Louis & Pittsburg Railroad, St. Louis Yandalia & Terre Haute Railroad, Grand Rapids & Indiana Railroad and roads
operated through its organization, East St. Louis & Carondelet Railway, Cincinnati & Muskingum Valley Railway and the
Waynesburg & Washington Railroad.
1887.
The aggregate gross earnings of these roads w ere.
E x p en ses........__........................... _.......... .......................
$11.253,840 99
7,913,035 13
N et earn in gs.. i . .... ...........
D educt rental and interest.
$3,340.805 86
3,184,251 40
P rofit........................................
$156,554 4»;
Of this profit your Company, under existin g contracts, is entitled t o .
$78,277 24s
1,200,186 23
Which, added to the profit shown in the preceding statem ent....... ......
D eaves a n et profit on all lines w est of Pittsburg for 1 8 8 7 . . . . . . . . . . . .
N e t profit on all lines w est of Pittsburg for 1 8 8 6 .................
$1,278,463 4 T
205,787 2 3
Showing a gain for 1887, as compared w ith 1886, of.
$1,072,676 24
These lines, comprising your Western system, show a marked improvement over the preceding year, there being a profit
o f $1,278,463 47 over and above all liabilities, as compared with $205,787 23 in 1886. The freight traffic shows an increase of
3,998,098 tons and the passenger travel an increase of 1,146,013 in the number carried. Large expenditures were made in the
purchase of additional real estate at terminal points, in the renewal of bridges and construction of branches, double track
and sidings. The condition of the track and equipment was fully maintained.
The amount expended during the year on capital account on the lines west of Pittsburg was $2,608.504 36.
There has been redeemed through the sinking fund $1,023,000 of the issue of $3,200,000 of the Pennsylvania Company's six
per cent bonds, secured by Pittsburg Fort Wayne & Chicago Railway.
There have been redeemed through the sinking fund $1,168,000 of the issue of $3,200,000 of the Pennsylvania Con*pany’s six per cent bonds, secured by Pittsburg Fort Wayne & Chicago Railway Company stock as collateral, leaving the
amount outstanding $2,032,000. There was a further issue of $1,250,000 of its four-and-a-half per cent bonds for the pur
pose of providing for construction and other capital accounts on the lines west of Pittsburg, so that the entire issue to date
is $15,000,000. Of this amount $533,000 had been retired through the operations of ihe sinking fund but under the limit as
to price therein fixed, no additional purchases could be made during the year.
The report made by the Trustees of the sinking funds of the first and second mortgages of the Pittsburg Fort Wayne
& Chicago Railway Company shows that the regular annual payment of $104,100 was made thereto They redeemed during
the year $51,000 of the first mortgage and $69,000 of the second mortgage bonds, making the total amount redeemed to
December 31st, 1887:
Firat m ortgage bonds .......................................................................................... ........................................................................................... ....................... $1,6 8 4 ,5 0 0 6 0
Second m ortgage bonds....... ........................................................ ................................... ................. ................................................................................... 2,018 500 OO
With a balance of cash in the hands of the trustees, uninvested, December 31st, 1887:
On account of first m ortgage sinking fun d ................ ...................................................... .................................................................................................. $598 279 28
On account of second m ortgage sinking f u n d ..,...................................................................... ........ , .............................. 431 573 @0
The further amount of $138,302 was also added to the sinking funds provide 1 for the redemption of the exist ng mort-i
gages of the Cleveland & Pittsburg Railroad Company, in addition to the amounts contributed directly to other sinking
funds by the individual companies.
The Grand Rapids & Indiana Railroad Company continues to show favorable results, its net earnings having been more
than sufficient to meet the interest on its funded debt and the losses on its leased lines. The land department made sales of
13,605 acres of farm lands and 7,632 acres of pine lands for $411,218 19, being an average price of $19 36 per acre. The amoun
sold to the close of the year, after deducting canceled contracts, was 460,387 acres, and the aggregate price received therefor
was $5,648,423 05, an average of $12 27 per acre. No bonds could be purchased by the trustees during the year out of the prefceeds of such land sales, and there are now outstanding $3,934,000 of the guaranteed and $505,000 of the unguaranteed first
mortgage land-grant bonds of the company.
The assets on hand December 31st, 1887, applicable to the redemption of the first mortgage land-grant bonds were :
Cash in'the hands of the tru stees........... ........ .............................. .................. ............... ............................................................... ................................ $984,078 4 2
Cash in the hands ol‘ cashier
62,073 17
B ilis and accounts receivable in hands of cashier....... ..........................................................................
......... . *............ *..........
4 0 3 ’3 84 92
B ills and accounts receivable in hands of tru stees........................................................ ................................. . . . . . . . . . . . . . . . . . . . 1 " " 1. ! ! ! 11" ' ! ” ] 150,000 OO
Total................................................ ......................... ............................................................................ ........................................................................... $1,599/736 51
It w ill be noted that the sinking funds of the Pittsburg Fort Wayne & Chicago Railway and Grand Rapids & Indiana
Railroad Companies, in which your Company is deeply interested, contain over two-and-a-half million of dollars, which the
trustees seem to be unable to invest in the securities for the redemption of which they are pledged.
SUMMARY OF LINES OWNED OR CONTROLLED EAST AND WEST OF PITTSBURG.
Gross earnings from traffic.......................................................
Gross expenses, excluding rentals, interest, dividends, &c.........
Showing n et earn in gs.............................................. ..............
1887.
1886.
$115,515,506 19
77,238,082 23
$101,697,980 78
67,102,714 59
$13,817,5*25 41
10;i3 5 ,3 6 7 64
$38,277,423 96
$34,595,266 19
$3,682,157 7 7
Increase.
FREIG H T TRAFFIC.
1886/
1887.
Dines east o f Pittsburg and E rie............................................
Dines w est of P ittsb u rg.................. .
...................... ..........
T o ta ls............ ................................................. „
Num ber o f Tons
One Mile.
Nun ber o f
Tons.
72,356,095
33,772,120
6,415,642,576
3,506,424,458
64,471,950
32,297,431
5,691,2Ì6;707
2,99^,627,781
9,922,067,034
96,769,381
8,690,844,488
106,128,215
PASSENGER TRAFFIC.
1886.,
1887.
T o ta ls.............................
.
:i;
Num ber o f Passen
gers one Mile.
N um ber i f
Passengers.
S um ber o f P assen
gers ov e Mile.
54,733,927
13,419,778
1,014,127,707
368,645,197
48,115,298
12,350,940
9 0 2 ,4 3 2 ,4 5 5
326,79 3 ,1 9 0
68,153,705
1,382,772,904
60,466,238
1,229,225,645
Num ber o f
Passengers.
Dines ea st of Pittsburg and E r ie ...
Dines w est of P ittsb u rg.................
Number o f Tons
One ville.
Num ber o f
Tons.
The aggregate amount of steel rails used in construction and repairs in 1887 on all lines owned, controlled or operate 1
b y your Company east and west of Pittsburg was 79,490 tonsi
326
IH E
CHRONICLE.
[Vol. XLVL
GENERAL REMARKS.
There was appropriated to the Managers ot the Trust created October 9th 1878, lor the year 1887, the .»m ol «78 628 92,
being one per centum of the net income of the Company, before payment of dividends to the Aareholdem. It i ^ b e s^ n
by the report of the Managers of that Trust, that there has been paid, to December 31st 1M7, the sum of $8,828,516 %,
which, with the income therefrom, has been invested in securities amountmg at par to $5,584,400, yielding an interest for the
y^ ? s ^ r ^ f t ? i m “
^ d mstows assets on hand, at the end of the year, of $1,814,444 50, being an increase
^ ^ T h e ¿eatOTpmtTf °the aimountf^expended during the past year on capital account wasfor increased facilities on your
line between New York and Pittsburg. The volume of business secured through the development of localmduste.es
promoted by the coustruction of branch and auxiliary lines:;had become sc.great as.to compel your Company.to.make
unusual outlays in this direction, not only in the extension of third and fourth tracks, but m the purchase of addi .onal real
estate and equipment. The amount of construction work undertaken during the year howevm, was so great that it was
impossible to complete it, and considerable expenditure will be required during the current) year to finish that now in progress.
The four tracks are now laid on the greater portion of the road between Philadelphia and New York with the exception of
the expensive points in the larger cities. The increased lading of the freight equipment, and the high speed which seems to
be demanded for all classes of traffic, indicate the nettessity for bridges of a more permanent character than those heretofore
constructed. Your management is, therefore, pursuing the policy of substituting stone for non, when the necessity arises
for the renewal of the structure, and wherever it is possible to do so at reasonable cost. The aggregate sum expended for
the purposes thus indicated was $4,078,44719.
.
A large expenditure was made in the extension and development of your branch and auxdiary lines, mainly as follows.
On the Connecting Railway, for the purchase of additional real estate, and third and fourth tracks; on the Perth Amboy
& Woodbridge Railroad, for the completion of double track; on the Pittsburg Virginia & Charleston Railway, for the
acquisition of additional real estate in South Pittsburg, and additional tracks; on the Southwest Pennsylvania Railway,
for new branches and the construction of a more direct connection with your Main Line for west-bound traffic; on the
Western Pennsylvania Railroad, for second track and reduction of grades, in carrying out the pohcy heretofore indicated of
making this line an efficient and economical route for the movement of your through traffic; on the Pennsylvania Schuylkill
Valley Railroad, for the extension of the line to the Mahanoy coal basin; and the completion of unfinished work on the line
to Pottsville; on the Tyrone & Clearfield Railway, for the extension of branches for the further development of that bitu
minous coal district. The aggregate of the sums so expended was $2,211,867 92, of which $680,188 43 was provided in cash
by the branch and auxiliary lines. The wisdom of such expenditures is shown by the large mcrease of tonnage that has
been secured to your system, and the direct revenue received from the investments in such lines.
Authority was given to your Company toward the end of the year by the Board of Public Works of oersey City to
elevate the, tracks approaching the New York terminus. Should the business of the present year be of such a character as
to warrant so large an expenditure, this work will be commenced.
. . .
.
,
The great danger to life attending the running of trains through thickly-populated sections is each year increased
through the establishment of new grade crossings. With the view of regulating the further opening of streets across radroads and the construction of railroads across streets, at grade, an act was passed by the Legislature of Pennsylvania at its
last session which failed, however, to receive the approval of the Governor of the Commonwealth. The Company as
endeavored to meet the different municipal authorities of the various towns through which its lines ipass in the most liberal
spirit, so as to avoid such crossings. In the City of Harrisburg, in connection with the building of the new passenger station
and the change of your line, a marked improvement has been made in this direction, which, although attended with large
expense to the Company, seemed to be justified by the direct advantages, not only to the public, but to your interests.
The Alexandria & Washington Railroad, five miles in length, connecting the Baltimore & Potomac Railroad with the
Alexandria & Fredericksburg Railway, was purchased during the year at judicial sale, under proceedings instituted by e
jCity of Washington. Under its reorganization your Company became the owner of all its securities.
dicated in a previous portion of the report, the loss sustained on your New Jersey system was largelyAue to the
cost of operating the branch lines in that State, and to the high rates of interest upon their outstanding obligations. For
this reason your Company availed itself of the option, under the contract made by the United New Jersey Railroad & Canal
Company with the Pemberton & Hightstown Railroad Company to purchase at par the guaranteed stock and bonds of t a
road, which bore interest respectively at six and seven per cent, amounting to the sum of $502,150, of which the greater
portion has already been surrendered to your Company.
. . .
.
The Employes’ Relief Fund, established February 1,1886, has more than fulfilled the expectations of your management >
in the benefits enuring therefrom to such of the employes and their families as have availed themselves of the opportunity
thus afforded for relief in cases of sickness, accident and death. Your Company and affiliated lines contributed during e
year $56,701 88 for operating expenses, and in addition thereto the sum of $1,942 40 for extra benefits to members o
6 ^
whose disabilities had continued over fifty-two weeks, and who were therefore no longer entitled to rehef therefrom.
e
amount contributed by your employes was $341,191 75, the receipts from interest were.$5,764 56, and the contributions by the
companies $58,643 78, making a total of $405,600 09, which, added to the balance on hand at the beginning of the year *
amounted to $515,407 12. Out of this fund there was paid to the families of employes in death benefits, and for sickness an^
accidents, the sum of $264,605 78, and for expenses $56,701 38, leaving a balance of $192,157 56. After deducting therefrom
the amount of outstanding unadjusted claims, and setting aside a proper reserve fund to meet liabilities growing ou o
e
increasing age of the members, there remained a net surplus of $111,913 96. There were 18,744 members of the fund at t
close of the year.
#
.
. ,,
With the view of enabling your employes to safely and conveniently deposit such portion of their earnings as ey “tug
desire to accumulate, your Company established on January 1,1888, an Employes’ Saving Fund, assuming the responsi
y
of the safe custody and repayment, with reasonable interest, of the moneys so deposited. This fund is now m success
operation, and will no doubt, like the Relief Fund, be of value for the purpose indicated.
Sufficient time has hardly elapsed to determine what will be the effect of the Inter-State Commerce aw upon
transportation interests. The policy indicated by the law differs so widely from that heretofore prevailing, a many
difficulties have arisen in endeavoring to conform the business of the country to its requirements; and in consequence thereol
there has not been probably that rigid observance of its provisions which was no doubt intended. Further legislation seems,
to be necessary, as it is apparent that manifest injury is being done to the railways of the United States, by permi mg e
Canadian roads to participate in the carrying trade of this country, without the ability, under the law referred to, o en orce
their observance of its provisions.
_
.
, r__u . Q«Q „nmn0n0j ivo- +Via
In November last Mr. D. B. Cummins, who had been a Director of your Company smoe^]toV1878, comjeUejt by tne
pressure of other business presented his resignation as a member of your Board, which
°®/lea^ esV.nuS pnmPflTS
excellent judgment and devotion to the interests of the Company, accepted with great regret. Mr. . .
gy >
President of the Philadelphia National Bank, was elected to fill the vacancy thus caused.
.
. .. p
..
The Board acknowledge with pleasure the fidelity and efficiency with which the officers and employes o
P j
. have discharged the duties intrusted to them during the past year.
G. B. ROBERTS, President.
Bv order of the Board.
M arch
THE CHRONICLE.
10, 1888. ¡
C o m m e rc ia i
firn e s .
COMMERCIAL EPITOME
327
C O T T O N .
F r id a y , P. M., Mar. 9, 1888.
T he Movement of the Crop , as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening (Mar. 9), the total receipts have reached 73,469
bales, against 65,562 bales last week, 69,024 bales the previous
week and 84,137 bales three weeks since, making the total
receipts since the 1st of September, 1887, 4,974,928 bales, against
4,929,138 bales for the same period of 1886-7, showing an in
crease since September 1, 1887, of 45,790 bales.
F r id a y N ig h t , March 9, 1888.
The death of the venerable Emperor William of Germany,
which occurred this morning, had little effect in mercantile
circles, because it had been long anticipated, but some depres
sion in cotton and the markets for food staples was noted. The
strike of the locomotive engineers on the Chicago Burlington Receipts at— Sat. Mon. Tues. Wed. Thurs. Fri. Total.
& Quincy Railroad continues, and fresh complications have G alveston .........
876
553 1,390
254
236
200
3,509
arisen, causing the railroad officials to appeal to the United Indianola, &c.
New
O
rleans.
.
.
5,943
4,836
8,833
4,074
4,073
7
,984
35,743
States courts. Threats are made that the strike will be ex
174
115
182
22
39
188
720
tended to all railroads having business relations with the Mobile................
Florida........... .
78
offending road.
Savannah .........
932
980
675
737
613
684
4,621
The weather has become spring-like, but not much progress Brunsw’k,&c.
...... . . . . . .
...........
...........
200
200
C
harleston........
1,130
691
880
470
676
is made thus far toward the resumption of inland navigation
370
4,217
423
Port
Royal,
&c
423
in Northern latitudes. A sharp decline in cotton, causing
90
37
37 . 113
13
178
468
many failures, is among the incidents of the week. There is, W ilm ington___
15
Wash’gton,
&c
15
fortunately, a great reduction in the number of destructive
N o rfo lk .............
55* 1,831 1,395 1,252
722
863
6,622
fires. General trade is fair.
287 2,425
804
9 2 7 3,006
8,728
Lard on the spot has met with a pretty fair demand, busi W estPoint,& c 1,279
650
600 1,051
971
691
742
4,705
ness being stimulated by a slight reduction in values, while New Y ork .........
550
245
638
443
109
40
2,025
many circumstances seemed to favor a higher range of prices. B o s to n ...............
1 086
To-day the market was steady, closing at 7’65o. for prime city, B altim ore.........
4
13
5
72
103
8@8-02Xc. for prime to choice Western, 7'85o. for refined to Philadelphia,&c
112
309
the Continent and 8*75c. for South America. The speculation Totals this w eek 11,128 11,247 17,511 9,212 8,351 16,020 73,469
in lard for future delivery was quiet and prices fluctuated
within a very narrow range. To-day the market was firm For comparison we give the following table showing the week’s
total receipts, the total since September 1, 1887, and the stock
but quiet.
to-night, and the same items for the corresponding periods of
DAILY CLOSING PRICES OP LARD FUTURES.
last year.
S a tu rd’y. Mond’y Tuesd'y. Wednsd'y. Thursd’y. F riday
March d e liv ery . . . .
April delivery........
May d elivery.........
June d elivery.........
J u ly delivery.........
A ugust d e liv ery ...
7-92
7*91
7 ‘93
7 ‘97
8-01
8'06
7-93
7'92
7*94
7-98
8'03
8 -07
7'93
7 ’92
7-94
7'97
8 -02
S'07
7-92
7'92
7-95
7*98
8 ‘01
8 ’06
7*94
7 ‘93
7'95
7-97
8 ‘01
8 -07
7"96
7*95
7*96
7-98
8 '02
8'08
Receipts to
Mar. 9.
Galveston . . .
1887-88.
This Since Sep.
Week. 1, 1887.
1886-87.
This Since Sep
Week. 1 ,1 8 8 6 .
3,509
625,603
3,873
3,509
35,743
720
4,621
4,640
483
6,622
8,728
8,403
3,873
33,183
2,682
7,895
5,230
428
4,206
21,493
2,166
9,966
5,661
1,618
6,442
3,457
7,120
Stock.
1888.
683,444
15,417
1,717
22,184
715
1,992
1,911
391
3,987
1,359
8,325
5,056
13,752
2,567
3,396
4,653
713
6,460
1,945
11,334
1887.
38,8 6 6
Pork is somewhat cheaper, but at the reduction had at times Ind’nola,&e
a brisker sale. Mess, $14 75@$15 25; extra prime, $13 and New Orleans. 35,743 1,569,527 33,183 1,601,780 291,006 320,298
2,682 206,446
clear, $16 25@$18. Cutmeats are easier, with considerable M obile...........
720 198,380
26,327
17,210
recent sales of picked bellies of medium weights at 7@7¿¿c., F lo r id a .........
265
23,169
22,743
78
and current quotations are, pickled bellies,6j%@7J¿c., shoulders, Savannah . . . 4,621 816,460 7,895 771,466 51,842 46,073
6%@6%c., and hams, 9%@10c.; smoked shoulders. 7%@8o.,and Brunsw.,«feo
135
200
69,365
25,954
hams, 10% @ 11 c . Beef is nearly nominal at $7@$7 50 for extra Charleston .. 4,217 386,943 5,205 382,602 21,886 17,055
mess, and $8@$8 50 for packet per bbl.; India mess quoted P.R oyal, &c
423
14,069
25
16,329
480
211
$16@$18 per tierce, and beef hams $16 50@$16 75 per bbl. Wilmington .
424 131,799
468 165,467
5,866
2,953
Tallow is dull at 4^c. Stearine is quiet at 8%@8%c. Oleo- Wash’t’n,&c
15
4
4,888
3,720
margerine is steady at 6^c. Butter is active at 20@30c. for N orfolk......... 6,622 434,059 6,022 511,847 33,686 15,631
creamery, the outside figure for Elgin fancy; Western extra W.Point,&c 8,728 469,596 4,088 310,270
428
selling at 28@29a, State dairies, 19@28c. and Western factory New Y o r k .... 4,705 72,953 1,494 80,036 294,011 2344,773
,7 5 0
16@24c. Cheese is unsettled; State factory, full cream, 10^@ B oston........... 2,025 66,538 3,089 86,020 17,000
9,500
I 2340., the higher figure for fancy white, and skims, 4@10c.
Baltimore . . .
1,086
34,492
1,980
59,715
18,905
12,470
Coffee on the spot has boen dull, drooping and unsettled. Phil’del’a, &c
309
23,419
2,589
34,967
20,156
22,133
To-day there was a decline with sales of No. 5 Rio at 1134c.,
T o t a ls ........ 73,469 '4,974,928 72,953 4,929,138 797,010 741,923
(No. 3 quoted at 13e.). No. 7 Santos at 10c.
The speculation in Rio options was at unsettled prices until
In order that comparison may be made with other years, we
yesterday, when there was a sharp decline. To-day the give below the totals at leading ports for six seasons.
market was dull and weak, closing this afternoon with sellers Receipts at —
1888.
1887.
1886.
1885.
1884.
1883.
as follows:
M arek.................... 1 0 ’20o.
A p r il..................... 10 05c.
M ay........................ 9-950.
J u n e ..................... 9-85o.
Ju ly....................
A u g u s t ............
September.......
October............
9-65c.
9-55c.
9-45c.
9 -40c.
Novem ber___
D e c e m b e r ....
J a n u a r y ........
February.......
9-35e.
9-35o.
9-50o.
9*50e.
G alvest’n, &c
New Orleans.
M obile...........
Savannah . . .
Chariest’»,&c
Wilm’gt’n, &c
N orfolk.........
W’t Point, &c
All others___
15,178
4 1,264
2 ,8 1 7
10,850
9 ,6 0 2
1,935
12,687
3,589
13,259
Raw sugars have relapsed into dulness, and prices have lost
part of the improvement noted in our last, and to-day were
further depressed, closing nominal at 4 13-16c. for fair refin
6,022
ing Cuba and 5 7-16c. for centrifugal, 98-degrees test. Molasses
4,088
about steady, closing fairly active, the sales including a cargo
9,552
at 20J4c. for 50-degrees test, 200 puncheons extra heavy black
strap at 1234c. and 400 hhds. ordinary do. at 1034c. The Tot. this week 73,469 72,953 62,129 42,581 49,876 111,181
auction sale of teas on Wednesday was a large one, and prices
Since Sept. 1 . 4974,928 4929,138 4669,431 4489,481 4485,924 5137,721
were in some cases easier.
Kentucky tobacco has been much more active, the sales of G alveston includes Indianola; Charleston includes Port Royal, &o.;
the week aggregating 1,450 hhds. of which 1,250 for export at Wilmington includes Moreh’d City, &c.; West P oint includes City P oint, &o.
steady prices. The movement in seed leaf tobacco amounts
The exports for the week ending this evening reach a total
to 1,390 cases as follows: 200 cases 1884 crop, Wisconsin of 87,504 bales, of which 55,861 were to Great Britain, 19,074
Havana, p. t.; 250 cases 1886 crop, Wisconsin Havana, 8@llc. to France and 12,569 to the rest of the Continent. Below are
840 cases 1883 85 crops, Pennsylvania,
1434c.; 300 cases the exports for the week and since September 1, 1887.
1886 crops, Pennsylvania, 1034@16c.; 150 cases 1886 crop, State
Week Ending Mar. 9.
From Sept. 1,1887, to Mar. 9,1888
Havana, ll@20o., and 150 cases sundries, 7@28c. Also 450
Exported to—
Exported to—
Exports
bales Havana, 60@$1 05c.; and 200 bales Sumatra. $1 40®
Oreat
Conti Total Oreat
Conti
from —
$1 80.
Total.
Brit’n. France nent. Week. Britain. France nent.
The Metal Exchange closes dull. To-day there was a smart G alveston . .. .
450
450
4,021
223,970
80,779
308,773
decline in Straits tin, selling from 33 05c. for April down to
238,861 326,671 1,131,405
82c. for the same delivery, and the close is unsettled. Ingot New O rleans.. 21,148 18,378 6,925 46,461 665,883
62,468
copper has at times been more active, but closes dull, selling F lorida . . . . . . . .
3,446
3,446
in a small way to day at 16-30c. on the spot, 16'35c. for April S av an n ah * . . . .
181,916 12,480 223,158 417,554
and 16,45c. for May. Lead and spelter have also declined, C h arle sto n . . . . 2,822
8,200 6,022
70,^37 25,839 173 261 269,737
1,020
76,806 6,395
closing dull and unsettled. The iron markets have been more W ilm ington .. 1,020 .........
37,635 120,836
6,266 206,869
. . . ..
8,375 210,244
active, but at lower prices, pig iron having yielded this week N orfolk............ 6,266
W
est
P
oint,
&c
10,265
10,265
205,132
about $1 a ton.
1,099 206,231
New
Y
ork.......
11,893
14,577
696
1,988
372,018
25,964
166,544
564,626
. The speculation in crude petroleum certificates became very
6 1,613 142,725
2
002
1,507
excited on Tuesday last and the price advanced to $1 per bbl., B altim ore . .. . 940
940
83,730 1,805
27,046 112,581
since which depression has prevailed and closed this after
89,484
8,900
43,444
.........
noon at 94^jj@95c. Spirits turpentine has been drooping, P hiladelp’a ’&c
closing at 39@3934c. Rosin is firm, but closes quiet at $1 1734 T o t a l............ 55,861 19,074 12,569 87,504 2,235,104 315,858 1,015,630 3,595,992
@$1 2234 for common to good strained.J m
^
T o tal 1886-7,. 43,146
694 37,732 81,472 2,237,672 448,427 945,530 3.6 <1629
THE CHRONICLE.
328
sg
In addition to above exports, our telegrams to-night also give
us the following amounts of cotton on shipboard, not cleared,
at the ports named. We add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
& Lambert, 24 Beaver Street.
On Shipboard, noi cleared—f o r
I fa r . 9, AT—
Great
Other Coast
B rita in . France. Foreign wise.
L eaving
Stock.
Total.
N ew O rleans___
M ob ile................
C h a rlesto n .......
Bavannah .........
G a lv esto n .........
N orfolk ..............
N ew Y o r k . . . . . .
Other porta........
11,680
None.
None.
N odo.
2.108
12,000
4,800
8,000
7,582 16,121
None. None.
None. None.
None. 10,900
None. None.
None. None.
750
5,650
None.
1,000
3,635
None.
900
1,500
3,578
2,000
None
None.
39,018
None.
900
12,400
5,686
14,000
11,200
9,000
251,988
26,327
20,986
39,442
9,731
19,686
282,811
53,835
Total 18 8 8 .........
38,588
8,332
33,671
11,613
92,204
704,806
T otal 18 8 7.........
Tota,1 1 8 8 6 .....
77,404
60,715
10,506
23,018
61,526
29,987
14,189
9,550
163,625
123,270
578,298
807,631
S a t. M o n . T u e s W e d
UPLANDS.
Tb.
F r i.
O rdinary..................................$ ®>
8 l’r i«t O rd in a ry ............................
Good O rd in ary.............................
Ltrict Good Ordinary................
Jl ow M id d lin g ................................
Strict Low M id d lin g....................
M id d lin g .......................................
Good M id d lin g.............................
Strict Good M iddling.................
Middling F a ir ...............................
F a ir .- ..............................................
GULF.
7% 6 73s
715le 7%
813x6
8V
9%
9&X6
913
91616 913x6 9%
10% 10% 101x6
lO^ie lO^xe 10%
lOiixe 10»X6 10%
101516 1013x6 10%
ii » i e 113x6 11%
l U ê16 1113x6 11%
S a t. M o n T u e s
75x6
71%6
8%
9%
y iije
10
203x6
1 0 7,6
lO lli«
11%6
H U ,«
W ed
75 6
713x6
8%
9%
911x6
10
103x6
1 0',«
1011x6
11%«
1U%6
Tb.
7516
713x6
8%
9%
911x6
10
103x6
10%«
101%6
11%6
1H%6
F r i.
O rdinary..................................$ B>
Strict Ordinary.............................
Good O rd in ary..............................
Strict Good O rd in ary..................
L ow M iddling.................................
Strict Low M iddling......................
Middling ............................. ........ .
Good M id d lin g.............................
Strict Good M iddling....................
M iddling F a ir ................................
F a ir ............................. ..................
STAINED.
711i 6 79x6 7%
S h e 8%e 8
9
815x6
9%
9%
90s
9 716
1 0 iT6 915X6 ' 9% •
103a 10% 103x6
10Ö16 107I6 103s
101S16 1011,6 1058
1 H 16 1015lß 10%
11716 11&X6 11%
12%« 1115x6 1178
Sat M on T u es
7%«
71&16 710x6
8%
8%
93s
938
913x6 91316
10% 10%
10°X6 105x6
109,6 109j6
1013x6 101»x«
113x6 113l6
111316 1113lf
7716
715i 6
8%
93s
913x6
10%
lOSjs
109x6
1013,
h sjb .
1113x8
W ed
F r i.
7»16
81W
9
738
Good O rdinary......................^ lb. 7%
Strict Good O rd in a ry ................. ,83i6
Low Middling. , i ............................ 9%
Middiin £ ....................................... . 10
9
9%
75X6
8
815x6
913,6
Tb.
7%
Vlbxe
8%
9%
7%
71516
8 78 :
9%
7%
715x6
8%
9%
2
Q
fflJCO
fc-*S f 3
®
S’®5*
S®
G woo®
iOQaO ®l l® (B© ® H*
C
J
*
©
®
P
*
S'®« m
P OD » Pit”
Q,
P OD
SgS*
•
:
O
H»
OD
-J
r-
:: 8. ^
•: se• a_
! si w
: e: «
©
wut w
® S’
%©©%
w®
Cn
¡J
co ©
I ©®:
—eo
©©O©
tco©»
or to en
©
rn
o
CO
o
o
1 1,922,500
The condition of semi-panic into which the speculation in
cotton for future deliveiyat this market had fallen at the
date of cur last was renewed with increased vigor on Monday.
Heavy selling began under what are known as “ stop orders,”
and as prices gave way the wiping out of margins that had
not teen kept good caused three failures of some importance,
with whom the name of a leading operator on the “ long”
side, residing in Atlanta, was associated. At a drop to 9 P6c.
for March, 10*16c. for June and 9‘62c. for October, the decline
was arrested, and a better range of prices was maintained
until toward ihe close on Wednesday, when June dropped to
lO’lOc., under the continuance of the process of liquidation,
weak advices from Liverpool and Manchester and disquieting
political intelligence from the Continent, with the movement
of the crop rather increasing ir stead of taking the “ horizontal
drop” that has teen predicted since the opening of the new
year. Latterly, there have been many indications of “ arbi
trage” manipulation let ween this market and Liverpool,
causing erratic fluctuations which were a puzzle to many old
operators. For example Liveipcol rsported this morning a
smart advance, but cur market opened weaker, precisely
reversing the couiseof yesterday. This afternoon the market
was unsettled and weak. Cotton on the spot has declined.
Stocks in this market began to show some accumulation.
Quotations were reduced J^c. on Monday and l-16c. on Tues
day and Wednesday. To-day the market was quiet and
unchanged at 10 8-16c. for middling uplands.
The total sales for forward delivery for the week are 1,802,700
bales. For immediate delivery the total sales foot up this week
$99 bales, including — for export, 999 for consumption
— for speculation and — in transit. Of the above — bales
were to arrive. The following are the official quotations for
each day of the Dast week—Mar. 3 to Mar. 9.
JV öl* XLVI.
w wu
Co
c
to
tf- g a
M
O
O
©
®©
M
g @ e t»
h, à ...g
2 W10S «
hi
® 0»-D
®'_1>-‘® ^dZKÌ
<1C0 »-•
w©
» g) tc»s
B0(3
HQDp.& ô-êcÊ
C©SB
«er» m®s
ϩ 5>
cô Y) © COOD 2
C3© * 1^© **
I ©p:
»t* I •"■cp-®
cç
çôcoc
©ocô G©DO
© C ©>
H* t>
o<9 <
w
ISS'
S
®
h'e£
£§&
g
®e»
Ä«C?
«ï 9.
T5en
e-rt>
>
*
►
O® 5 ©® 5 o© %
2
o®
©© *2■* tòta
© 2** ©©
MW **
T
s®:
I
©
.«•:
I
©p:
HHbOM
<£®©o ©OC ©
® Q) m3?
et to — M
•' I— tj»
-,
co© ©
00if to
®«a:
I ©p: I ©eo?
H*-®tt
©OO© ©o©o OO©©
© o©
pOû o © ° © ©o®© C H © ©
00 O.-J »0 ex') © ©M
HH >
5
©O
5” O© % ©O
M*-* ® H-o 2 ©© ® H-H 2
onoy,*1
-a
#»to,
oo: I
I ©p: HI- ®
I-«—0CCH
:-*
H*DJHJ
►
oooo
©OO©
©O©©
H“-1® M
‘to'
H- M® H-* ©H
te© ex
CD00 © ^ <1
g©
H- H"4 >
►
©O •<
9
9 <
9
9
<
HM ®
ton
2
to to ®
CX^lo1*
*7*®
©
,
I
®o:
I éto: HHffH*
i H-CCM HHrjH
I îVf*• HHfflH*
I 9 o 9 çtaolà©Oom o©o© o o ©9
1 to ® ta
H tô® M tâ ta® tô
«a__i|h Cxa> oo to*- -a 03 C- M
MM
►
O© ^ O O
O© ^ ©9
cita !^«
IM
2
MM
2
tâto 2 K©«toi
It- #»Mn çota^
IH H« O®:H HI H||,H
IM
@ç(XbM
: I s»' w:
s»: M
9© 9
9^ 9eîî®
° 9tâ 9M©tâoO©ta om©moC©ta 9MM®tâ
CX© M
c©
2
h m æ h
C®
M
M©
MM
I
®®
©GO
>
%
S
MMajM
9M ço
9
6û © tô
et M
ex
toCX M-
coco
n>
te ta
%
ocoom1*
i tì©:
9m9m®
9
©m
©O©
O)
|>
99
© © o©
© ! » © ’cë
t a - a ex
►
<
ct>
OO
00® W0D
M©
ex
I ©i- »
côcô©cô
Ot *— ©
H"*•— >
©o %
H-h-'
I ©PI
à®
ti tô°tô
-4
Mi- t>
O© ¡5
ti M ®
c
O' e p
C ©OO
C to
te a s
H-»!-* ft» H--" (►
O©
% ©o %
lglln ®
C
©H2 ©cto1
©©o**
*
I © p:
I
M M .1 H
H-*CXH
I ©C©
©OO©
H-W® r- I
O
CX OP œ m
M>
l-M
h* M
O©
5
9 9 ■<
MMm ® ii*A 2
©Ma. * «a©
IM
©P:
I
M
—M
9M9^©
9 ©OO©
o tô »iex® ex
*>io y* a to__©
H H
MM
©O <
Mi^r d> 9
•¿l9H* <2
a ®oo^ ©*M^
I S#'! M
I ôp:
mIihM
MM* M
©CO©
O O oO
M
iJnO
tj
exex® ex
ta
et t s OO o h
M b»
MM
t>- M
©O %
99
<
K to ® exex ®
KMQ ^ m © m h
I qcH MI ©P:
MC M
HH
9tôiii
9©
9 ©CO©
C eô
M ex ta
coco 5>
■^ob ®
00 © H **
©p :
t- H* >
OO
■<
o©
H O ►-)J
© Ço©
© © o®
©o©o
MOI W
®eo 5>>
do: 2
ç ta **
T©»!
©œ©œ
i
Ä
-0OÔ -j-jo©
-j©®C
*
3
wi 0
OCO CO ®-j®d>
CO H-CO ton<1 C
► ©© ► COCO
COCO ► coco •4
(H
*01 a> ¿di 0 OiQi a>
© ex 0
i 0
HCO* lgl^
Or*
oeo
CH* ►
&a m :
I ©«:
l ©»:
ta
®
ce © o © © ©O.® «■©c® ©es©© ©eç©•©
dd®oi
© « 9 d dexPex exd®ex dd® d
tota o CX®' - î
©CO- ^
©CO 5
2
Ciif^
ù 2** en
ex ex **
Q
MeCnO‘ 2** œ©
too 2^ exex
Te taw: i ©p:
I ©m: l © p©:
ex ^
®œ©© © © o © e o e ç o © e o © © e o . eoeço©
dd®
d 03à ® e x e x d ® e x d d ©d : exd® d
tO M ' M m © no M rô oo c e to M 3 © œ__ta
tt9© ex
9
to œ
I ©.*-:
eoœ©©
d ®dit
©m -a o.
©ex
© «©eo
d-â® d
II
I©
<
o©*©«?
òobCò
h-U) b
►
COCO ■
<
•^
O10
00
©« o®
-â-jO-j
MM
©œ 5
-âd
2
m ©
**
I ©i-l
®®©œ
-j-jo-â
t o ta
m
COCO
2
**
I ©p:
CO
er œ©© CDCOo*?
T.M®ô)
-j d ®d C
^»15 to
>
t>
iS 1 1 & 1 1 ^
I ©: :
MARKET AND SALES.
The total sales and future deliveries each day during the
week are indicated in the following statement. For the con.
venience of the reader we also add a column which shows at a
glance how the market closed on same days.
SPOT MARKET
CLOSED.
S at ..
M on.
T u es.
Wed .
Thurs
F r i...
E asy @ 1,6 d e c ..
UnS’ttl’d @% dec.
D ull ^ i iß dec. ...
E asy @ %6 d ec..
Q u i e t ....
Q u ie t.................
SALES OP SPOT AND TRANSI^
Ex Con-1 Spec- Tran
port. sum p in t’t’n sit. Total.
78
129
150
299
159
184
__
r
¿a
___
....
....
78
129
150
299
I 59
184
FUTURES.
DtliV'
Sales. cries.
137,300
441,300
257,000
212,300
158,800
96,000
__
___
....
__
....
999 AJC2,7oo
....................................
....
999 ____ ____
Tlie daily deliveries «riven above are actu ally delivered th e day
previous to that on which they are reported.
T h e B a l e s a n d P r ic e s o f F u t u r e s a r e s h o w n b y t h e
Total.
©Towing comprehensive table:
" luoiuuoB bj»iob m oep win Util , l Hts7, m i »ev w?iul»«r, 258,200; 8ep-tember-Octobfer, for October, 570,200; September-November. for N o
vember, 481,600; Septeinber-December, for December, 1,027,400 ; S ep
tem ber-January, fo i January, 2,256,6u0; fceptember-February, for Feb*^
We^liave included in the above table, and shall continue each
week to Rive, the average price of futures each day for each m onth, l i
w ill be found under each day follow ing th e abbreviation A ver
The
average for each m onth for the week is also given at bottom of table.
Transferable Orders—Saturday, 10'25e.; Monday, lO'OOc.; Tuesday,
10 05c.; Wednesday, 9 ’85; o.Thursday, lO'OOc.; Friday, 10'COo.
The following exchanges have been made during the week t
. „
_
tE „X.
«»«V, O Sinn KTa-tr frn. Alire
•15 pd. to exch. 2,000 Apr. for June •15 pd; to exch. 2,000 May for A u g .
•14 pd. to exch. 5Uu May for Aug.
•03 pd. to exch. 500 June lor July.
•25
pd.
to
exch.
1,000 Mar. for J u p e .
62 pd. to exch. 100 Oct. for May.
•20 pd. to exch. 100 Apr. for July.
•16 pd. to exch. 20o May 101 Aug.
•53
pd.
to
exch.
100 Dec. for M ay.
•09 nd. to exch. 900 Apr. for May.
•07 pd. to exch. 5,000 May for June. •17 p d .to exch. 100 Apr. for June.
•09 pd. to exch. 100 Mar. for April. •04 pd. to exch. 400 Ju ly for Aug.
•08 pd. to exch. 200 June for Aug
The V isible Supply of Cotton tornigbt, as made up by cable
and telegraph, is as follows. The Continental stocks, as well a»
those for Great Britain and the afloat are this week’s returns^
March 10, 1888.]
TH E CHRONICLE
329
sand consequently all the European figures are brought down :ne same towns have been 279 bales less taan tne same
"to Thursday evening. But to make the totals the complete week last year, and since September 1 the receipts at all .the
figures for to-night (Mar. 9), we add the item of exports from towns are 62,872 bales more than for the same time in 1886-7.
'the United States, including in it the exports of Friday only.
Q uotations for Middling Cotton at Other Markets.—
1888.
1887.
1886.
1885.
Btoek a t L iverpool........... bales 883,000 947,000 674,000 990,000 In the table below we give the closing quotations of middling
« to o k a t London.........................
25,000
14,000
15,000
34,000 cotton at Southern and other principal cotton markets for each
day of the past week.
Total Great B ritain stock . 908,000
Stock a t H a m b u r g ...................
4,100
«Stock at Brem en.........................
45,900
d3tock at Am sterdam ..................
22,000
Stock a t R otterd am ..................
400
■Stock at A n tw e r p .....................
700
S tock at H a v r e ........................... 164,000
«Stock a t M arseilles....................
3,000
'S to c k a t B a r c e lo n a ...__ . . . . .
61,000
«Stock a t G en o a ...........................
4,000
4,000
«Stock at Trieste...........................
Total Continental stock s.........
309,100
961,000
3,100
35,600
29,000
300
900
268,000
5,000
51,000
5,000
11,000
689,000 1,024,000
4,000
7,600
40,800
50,400
29,000
52,000
400
500
1,500
1,000
156,000 213,000
6,000
5,000
75,000
81,000
11,000
5,000
4,000
5,000
406,900
327,700
420,500
Total European s to c k s___1,217,100 1,367,900 1,016,700 1,444,500
1190,000
AO.00(1 17S.OOO
9.90 o o o
iqq nnn
175.000 229.000
128,000
Amer. co tt’n afloat for Eur’p e. 296,000 423.000 457.000 279,000
Egypt,Brazil,& c.,aflt for E ’r’pe 51,000
56,000
17,000
26,000
«Stock in United States p o rts.. 7 9 7 ,0 10 741.923 930,901 736,103
‘S to c k in U. 8. interior to w n s.. 282,641 212,556 394,467 167,256
U nited S tates exports to-day.
24,764
6,873
17,775
14,000
,ia cot
to n afloat,
India
cotton
afloat fo
forr Rnronft.
Europe.
Week ending
M ar. 9.
CLOSING QUOTATIONS FOR MIDDLING COTTON ON—
Satur.
G alveston . . .
97a
NewOrleans.
91316
M o b ile .........
9%
Savannah . . .
9%
Charleston .. 1 0 ‘s
Wilmington .
97¡16
Norfolk.........
B o s to n ......... 105s
Baltimore . . . lO 3^® ^
Philadelphia
10®8
A u gu sta........
9*8
Memphis . . . .
93*
St. L o u is .....
C incinnati...
Louisville ...I 10
Mon.
Tues.
913ie
9 78
9%
95s
1018
9 15I6
9%
10ip
1014®%
105s
9 78
9%
93i
10
9 78
91*16
9 \
93s
1018
»*5I6
9%
103s
1 0 % ® 3g
1013
9%
9=8
9%
10
9 78
I Wednes. I Thurs.
9%
9 i i 16
9®8
9=8
1018
93a
9 ^
1038
1 0 3 16
1013
9%
93s
» in «
9 78
9 78
F ri.
93*
93t
9% a
» £ 1«
95a
958
93s
93t
nominal, nominal.
933
9®8
9 \
9%
1014
1014
10316
10716
9%
103l6
107i 6
93*
9%
911x6
9 7s
9%
953
!£•
934
R eceipts from the P lantations. —The following table
794,859
Total visible su p p ly ...........2,858,515 2,983,252 3,062,843
-O f tbe above, the totals of American and other descriptions are as fo llo w s: indicates the actual movement each week from the planta
A m erican —
The figures do not include overland receipts nor
Liverpool s to c k ................ b ales 705,000 745,000 495,000 767,000 tions.
"Continental stock s...................... 197,000 308,000 252,000 312,000 Southern consumption; they are simply a statement of the
.Am erican afloat for E u ro p e...
296,000 423,000 457,000
279 000wf® ,lyJn 0Xement fromthe plantations of that part of the cron
741,923 930,901
736 103which finally reaches the market through the outports.
J n ited States stock .................... 797,010
’U n ite d 8ta tes interior sto ck s..
282,641 212,556 394,467
167 256
United States exports to -d a y ..
24,764
6,873
17,775
14 000
W eek
E n d in g —
Total Amerioan........................................ 2,302,415 2,437,352 2,547,143 2,275,359
E ast In d ia n , B ra zil, Ac.—
^Liverpool stock........................... 178,000 202,000 179.000 223.000 F e b . 3 ........
.¿London sto c k ..............................
25,000
14.000
15.000
34.000
*• 10....
•’C ontinental stocks........... ......... 112,100
98,900
75,700 108,500
“ 1 7 ........
In d ia afloat for E urope......... . 190,000 175,000 229.000 128.000
“
24......
E gyp t, Brazil, &c., afloat............................ 51,000
56.000
17.000
26.000
M a r. 2 . f t . .
Total E ast India, &o.......... 556,100 515,900 515,700 519,500
Total American................... 2,302,415 2,437,352 2,547,143 2,275,359
9......
R ece
t s a t th e P o r ts .
1880. I 1 * 7 . I 1838.
St’ft a t I n t e r io r T o w n s . R e c ’p t s f r o m
1888. I 1887. I 1888.
122,418 130,753 98.668 489,013 336,612 379.550
105,792 108.257 99,583 454,110 H32.798 318 663
It 8 0 ,5 8 2 1 84,137 44 8 ,1 7 0 ¡321.800 3 6 0 .4 4 l!
102,524[
92.807 95.013¡ 69.024 <
442,000 301,19» 350,014
08,223 79.9511 05.502 442,408 285,991 324.588
62,129! 72.953 73,409.421.730 230 902 302.50»
The above statement shows—1 .
Total visible s u p p ly .............2,858,515 2,983,252 3,062,843 2,794,859
the plantations since September
-Price Mid. Upl., L iverp ool___
SSscL
5516d.
4 i31fid.
515. „d
Price Mid. UpL, N ew York____ 103iec.
9 780.
9*qg.113in
jq01886-7 were 5,118,040 bales ; in
HSf” The imports into Continental ports this week have been
-45,000 bales.
The above figures indicate a decrease in the cotton in sight
to-night of 121.747 bales as compared with the same date of
4887, a decrease of 204,328 bales as compared with the corres
ponding date of 1886 and an increase of 63,656 bales as
•compared with 1885.
AT the I nterior Towns the movement—that is the receipts,
■sior the week and since Sept. 1, the shipments for the week,
.yand the stocks to-night, and the same items for the corres
ponding period of 1886-87—is set out in detail in the following
statement.
Q2?S W> O ft Q<t ®*0O2)g m g g<o
KS’
3
« aMsuL
g _.
aC
sb.ft)* ^
:
P
IRS
© ST
3 ¿¿"
I ig e ila
H*
©
GO
S m^ 'Is ; Q
M MMMM
WMi*©WM«3|
B
s a g .® .#
2 2.0 b ® F
IS s* i f £t§9
0 0 .88 S g t -U
1 í S irip is
Ig : t
©CM
10 M
<]
)_l
H H M ^I
COM M 10 M 1010
co £■ © x to m co e x x co w o to cm-g © x <1
IDOOOSiUU
CO©.-»XXtOCO©M©©^rf.H-X^l©CM©
0 10w
05M
O©
M
tsMC
©
ton».
©©COWiMM*“M o to 0010 M 00
Ol Oi i—(-*h-1ÍM©
05
MCM
r-*
«q©CMCM
.‘»■^"'tllOM^.COOOO pio
C
O<100005
0X
0
to
-1
1
0
<
ll-*
O
C
0
1
0
1
0
tf»
©<1 £.<|Xi COMA.
©
M
X
tO
C
M
tO
C
O
C
O
tO
©
^^.
W
<
1
1
0
C
O
C
M
CO x®
>-,Xl-‘CMt-‘©®C5©H‘C0C».-lC0O-O©XX
<1
P l a n t ’n s .
1886. I 1887.
1888.
115,089 116,004
90,895 104,443
9 6 ,578 75,150
87,303 74¡848
6-»,' 25* 44*743
41.407 43 93*
80,213
88.690
75,915
59,197
39,536
51,38
That the total receipts from
1 , 1661, are o,a->d,eTp bales*
1885-6 were 5,075.317 bales. *
2.—That, although the receipts at the outports the past week
were 73,469 bales, the actual movement from plantations was
only 51,389 bales, the balance being taken from tbe stocks a t
the interior towns. Last year the receipts from the plantations
for the same week were 43,924 bales and for 1886 they were
41,457 bales.
A mount of Cotton in Sight Mar. 9.—In the table below
we give the receipts from plantations in another form, and add
to them the net overland movement to Mar. 1, and also th e
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
.______
I 1887-88. I 1886-87. 1885-86. 11884-85.
Receipts at tbe ports to Mar. 9 4.974,928 4,929,138 4,669.431 4 489 4 SI
In
te r io r fttoolra
ar O
<9
Interior
stocks on
on M
Mar.
9 in
in
excess of September 1
2 78,6781 188,902' 405,886 163,917
Tot.
receipts
5,253,606
, 075,317
653 398
At
nuorlom
l to
tnfrom
M onplantat’ns
. • rrern I 5,11^,010 57,.
* . 4’cXV’fio0
Net
overland
Mar.
11 ............. 01
816,7521
623,233 617.134
Southern consum pt’n to Mar. 1 3 0,000 250,000 205,000 vwLj7o2
180,000
Total in sight Mar. 9 ............... 6,370,358 5,991.273 5,897,45 L 5,335,180
Northern spinners’ takings to
Mar. 9
................................ 1.452.448 1.303.362 1,368,802 1,099.690
seen by the above that the increase in amount in sigh t to
a®, compared with last year, is 379.08 > bales, the iuerease as
S >Il 1035^L78tbales8í> 6 18 4 7 2 >9u7 bales and the increase over 18 8 4 -5
W eather R eports by T elegraph .—Our reports by tele
graph to-night indicate that in some sections of tbe Southwest
the
rainfall has been rather heavy duiing the week, but that
»
poo
COM
CO1-1
13
in
other
portions of the South the weather has in general
00' OMUJO»
© if»©»-*¿3® 10ito c o ©
Oococo m mm
been favorable for farm work.
o c o ic c - i o Kj9r?i7S°t:KOS®
s-S‘2
b
o^coto©to©wo'oo»-‘
10•
CM cc o; m co 01 cm<1 oc cor r © cu -4 if» t - m © h *
dalveston, Texas.—The weather has been dry »11 the week.
s?
The thermometer has averaged 55, the highest being 65 and
<1“ ® 10M;
the lowest 46.
P©
CO© 40M J010
OOCOCO©CO©CM I1??
►-<135-o'cÒl'
COMHiIhco ©©©tq» «ow
Mm
©im
<1co
©tO
10-S1
Palestine, Texas.—It has rained hard on two days of the
copeco —o í
c
m
c
m
©it*
<1©h-©Xto•
cj>co©©iH>Mi-,tOif^H‘. x ©xocm©x©
week, the rainfall reaching five inches and seventy-eight hunS*
thermometer has averaged 44, ranging from 34
o o2i
<íM
M
©
to 00M10to10
©O COto Or MM©<|
M© M M©
San
ÁntoniOj
Texas.—There has been one shower during
00<l©tO©t0©H'XXOlrf^^0©©C11MM©
CO©COOI m©to
©Mr-‘00©00©©©©c^©H4©©©©XM
ml6 ^ eek’ the rdinfa11 reaching six hundredths of an inch.
The thermometer has íanged from 38 to 54, averaging 46.
o>
Í55?
*-*
©
m 'S
©M^ Mto M
Anew Orleans, Louisiana.—We have had rain on two days
©OOtOCWtOM^MX© M#.tO©©rf»>©tf^ I £89
©ffi^»-©M©0
PPM^OMpH-WOTCO^OTM1—©^©© I •
of the week, the rainfall reaching one inch and nineteen hun
co©
to©
n».Q
5iq
©
W
M
©
"^7-‘tO©
XtOM
©
©
M
X©
W
®
©
!
©©M©©©©
dredths. Average thermometer 59.
0©>M
HOOM®W®
CO<X1’©i.©
10M©©X00©
©®H.<1X<lM
X© XMtO©
.H©XXUi
<110MIf X
©™
Shreveport, Louisiana.—Rainfall for the week three inches
and ninety-six hundredths. Tbe thermometer has averaged
10
Six
10
top
S ta T
46, the highest being 69 and the lowest 37.
© m to w to to to
CH©WJ^-10 COCMMCO ioOrf^CMMvj'i. s r l
W0iv|»0!WH
© X©M©ffl#.XMCMCM ©©CM©®-»tO
Columbust Mississippi.—We have had rain on three days
CM©(Moline.to
©(—t-‘XOMMM©SOW©CMX©©©XX
sf
of the wrek, the rainfall reaching two inches and thirty one
hundredths. The thermometer has aver ged 44, ranging from
©
M
.
M §22
-O,f. . ., 1°
x<l;
#. <ipi MCO^ ©
24 to 63.
^©
©tf»©0<1»».«
-JopcoaocMMCMtOM;
m
©
©
co
<
i
'
m
m
©
®OXOh M
Leland, Mississippi.—Rainfall for the week two inches
CMOiMMs©,
Mt0©O<1CMiMMXr-. M©10©OMO©
and nineteen hundredths. The tnermometer has ranged from
29 to 66, averaging 45.
«reJestfm ated^01 ^ UlSVi^e in both’ years are “ net.” ~ t This y ear’s flg
Greenville, Mississippi.—Telegram not received.
lh e above totals show that the old interior stocks have
Vicksburg, Mississippi.—Telegram not received.
decreased during the week 15,619 bales and are to-night 70,085
Li tils Ryckr* Arftan&as.—The week has been moro or less
t)a.8a more than at the same period last year, The receipts at cloudy, with rain oh four days. The rainfall reached one inqjh,
T B E CHRONICLE.
330
[ V ol. X L \ I ,
The above totals for the week show that the movement from
and forty-eight hundredths. The thermometer has averaged
the ports other than Bombay is 1,000 bales less than the same
41, the highest being 65 and the lowest 27.
Helena, Arkansas.—The weather the greater part of the week last year. For the whole of India, therefore, the total
since January 1, 1888, and for the corresponding
■week has been cloudy and cold, with slow ram on three days. shipments
The rainfall reached two inches and eighteen hundredths. periods of the two previous years, are as follows :
E X PO R T S TO E U R O P E FR O M A L L IN D IA .
Not much farm work done. The thermometer has averaged
1887.
1886.
1888.
40, ranging fri m 28 to 62.
.
,
.
Memphis, Tennessee.—We have had ram on five days ot I Shipm ents
This
Since
Since
This
Since
This
ll Europe
the week, the rainfall reaching ninety-six hundredths of an I to afrom—
week.
Jan . 1.
week. Jan . 1.
Jan . 1.
week.
inch. The thermometer has ranged from 28 to 69, averaging ¿v.
Nashville, Tennessee—It has rained on five days of the B o m b a y ........... 46.000 221,000 43.000 255,000 27,000 241,000
week, the rainfall reaching ninety-nine hundredths of an 11 other ports. 12.000 72,000 13.000 83,000 12,500 6 0,000
inch. Average thermometer 88, highest 64 and lowest 25.
T o ta l........... 58,000| 293,000 56,000 338,000 39,500 301,000
Mobile, A la b a m a — It has been sbowery on two days of the
A lexandria Receipts and Shipments.—Through arrange
week, the r a in fa ll reaching fifty-six hundredths of an inch. ments
we have made with Messrs. Davies, Benachi & Co., of
Planting is late. The thermometer has averaged 55, the Liverpool
and Alexandria, we now receive a weekly cable of
highest being 75 and the lowest 35.
Montgomery, Alabam a. —We had rain on two days in the the movements of cotton at Alexandria, Egypt. The follow
eaily part of the week, but since then the weather has been ing are the receipts and shipments for the past week and for.
splenoid. The rainfall reached one inch and five hundredths. the corresponding week of the previous two years.
The thermometer has averaged 53, ranging from 31 to 76.
A lexandria, E gypt,
1886-87.
1885-86.
1887-88.
Selma, Alabam a. —Telegram not received.
M ar. 7.
Auburn, Alabam a. —Rainfall for the week seventy-nine
(cantars*)—
hundredths of an inch. Frosts on the 7th and 8th. Average Receipts This
24,000
24,000
32,000
w e e k ....
2,715,000
2,783,000
thermometer 51'1, highest 72 and lowest 29.
2,792,000
Since Sept. 1
Madison, F lo rid a —Telegram not received.
This
Since
Since
Since
This
This
Macon, Georgia.—Telegram not received.
week. Sept. 1. week. Sept. 1. week. Sept. 1.
Columbus, Georgia.—Rain has fallen on one day of the
(bales)—
week, to the extent of sixty-two hundredths of an inch. The Exports
To Liverpool.............. 7.000 215.000 7.000 227.000 5.000 201,000
thermometer has averaged 48, ranging from 31 to 66.
To C on tin en t............. 4.000 129.000 6.000 121.000 6.000 123/100
Savannah, Georgia.—With the exception of rain on on«
Total E u ro p e......... 11,0001344,000 13,000 348,000 11,000 324,000
day the weather during the week has been pleasant. The ram
fall reached eleven hundredths of an inch. The thermometer * A cantar is 98 pounds.
This statement shows that the receipts for the week ending
has ranged from 39 to 78, averaging 56.
Augusta, Georgia.—The weather has been clear and pleas March 7 were 32,000 cantars and the shipments to all Europe
ant during the week, with light rain on two days. The rain 11,000 bales.
fall reached ninety hundredths of an inch. Average ther
Manchester Market.—Our report received by cable to"
xnometer 52, highest 79 and lowest 33.
night from Manchester states that the market is dull for
A tlanta, Georgia.—Telegram not received.
both yarns and shirtings. We give the prices for to-day
Albany, Georgia.—Telegram not received.
below, and leave those for previous weeks of this aDd
Charleston, ifouth C arolina—It has rained on one day of last year for comparison!
the week, the rainfall reaching twenty-seven hundredths of an
1887.
1888.
inch. The thermometer has ranged from 39 to 74, averaging
Cott’n
Cott’n
54.
814 lbs.
32s
Cop.
8
4lbs.
32s Cop.
M id.
Mid.
Siatebarg, South Carolina.—It has rained on two days of
Shirtings.
Twist.
Shirtings.
Twist.
Tfpldt
TJplds
the w e e k , the rainfall leaching seventy-four hundredths of an
inch. Peach trees are blooming. Average thermometer 48*4,
d.
d.
d. s. d. s. d.
d.
d.
d. a. d. s. d.
highest 74 and lowest 38.
Feb. 3 71318_8716 5 8*a@7 1*3 5»16 7*8 @ 73t 5 9*a@6io*3 5*s
5
9*a@6
10*fi
7*8
@73*
5*8
Columbia, South Carolina.—Rain has fallen on two d-ys “ 10 7% -@838 5 8 @7 1 5*2
7% @838 5 8 @7 1
5*16 7*8 @7% 5 9*2@6 10*a 5*8
of the week, to the extent of eighty-four hundredths of an «“ 17
7% @838 5 8 @7 1
5«18 7*3 @7% 5 9*a@6 10*2 5*16
inch. The thermometer has averaged 53, the highest being 74 Mar.242 7%
5*3 7 18 @7% 5 9*a@6 10*2 5*4
@838 5 8 @7 1
“ 9 71116- 8 5 16 5 7*a@7 0*2 538 7316@713l i 5 9 @6 10*2 5 616
and the lowest 38.
Wilson, North Carolina.—Vie have had rain on one day of
verland Movement, &c., to March 1.—In our editorial
the week, tie rainfall reaching fourteen hundredths of an a lOumna
to-day will be found our regular statement of over
inch. The thtrmometer has averaged 46, ranging from 28
land movement, receipts, exports, spinners’ takings, &c.,
to 74.
The following statement we have also received by telegraph, brought down to March 1.
showing the height of the rivers at the points named at 3 Domestic E xports op Cotton Manufactures.—Through
the courtesy of Mr. W. F. Switzler, Chief of the Bureau of
o’clock Mar. 8, 1888, and Mar. 10, 1887.
Statistics, we have received this week a statement showing the
Mar. 8 ,’88. Mar. 1 0 ,’87 exports of domestic cotton manufactures for January, and
for the seven months since July 1, 1887, with like figures
Feet. Inch. Feet. Inch
for the corresponding periods of the previous year, and give
13
6
3
10
N ew Orleans............................. Above low-water mark.
4
36
6
22
|ip>rnphiH .................................. Above low-water mark.
them below:
2
34
6
9
N a s h v ille .................................. Above low-water mark.
22
S h rev ep o rt...............................Above low-water mark.
29
V ick sb u rg.................... Above low-water mark
1
1
17
43
7
3
I ndia Cotton Movement prom all P orts.—The receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to Mar. 8.
BOM BAY R E C E IP T S AND SH IPM E N T S F O R F O U R Y EA RS.
Shipm ents this week. Shipm ents Since Jan . 1.
Great Conti
Y ear Great Conti
Total.
B rit’n. nent. Total. B rita in nent.
1888 22,000 24.000 46.000 49.000 172,000 221,000
1887 9.000 34.000 43.000 59.000 196,000 255.000
1886 23,000 4,000 27.000 71.000 170.000 241.000
1885 5.000 11.000 16.000 42.000 125.000 167.000
Receipts.
This
Since
Week. Jan. 1.
55.000
51.000
40.000
25.000
407.000
431.000
395.000
262.000
According to the foregoing, Bombay appears to show an
increase compared with last year in the week’s receipts of
4,000 bales and an increase in shipments of 3,000 bales, and
the shipments since Jan. 1 show a decrease of 84,000 bales.
The movement at Calcutta, Madras and other India ports for
the last reported week and since the 1st of January, for two
years, has been as follows. “ Other ports” cover Ceylon,
Tuticorin, Kurrachee and Coconada.
Shipm ents for the week.
Calcutta—
1 8 8 8 .........
1 8 8 7 .........
Madras—
1 8 8 8 .........
1 8 8 7 .........
A ll otliers—
1 8 8 8 .........
1 8 8 7 .........
T otal all—
1 8 8 8 .........
1 8 8 7 .........
Shipm ents since J a n u a ry 1.
Great
B rita in . Continent.
Great
B rita in .
Conti
nent.
Total.
3,000
5Ì000
3,000
2,000
6,000
7,000
20,000
24,000
1,000
1,000
.........
Total.
23.000
37.000
43,000
61,000
5,000
2,000
.........
5,000
2,000
3,000
3,000
2,000
3,000
5,000
6,000
14,000
13,000
10,000
7,000
24,000
20,000
7,000
8,000
5,000
5,000
12,000
13,000
39,000
39,000
33,000
44,000
72,000
83,000
Quantities of M anufactures of Cot Month ending J a n . 81. 7 mos. ending Ja n . 31.
ton (colored and uncolored)
1880-7.
1887-8.
1887.
1888.
exported to—
678,418 7,563,644 6,046,546
G reat B ritain and Ire la n d — yards 1,566,927
52,225 2,164,337 2,771,298
91.517
O ther countries in E urope. .. .
625,153
853,519
132,759
60,803
B ritish N orth A m erica.......... M
986,405 9,865,991 6,372,074
1,055,528
M e x ic o ............ .
. .. .
Central A m erican S tates and
4,612,302 3.742,542
500,3'
.468,892
B ritish H o n d u ra s............... '
1,132,355 2,211,353 10,022,242 11,203,321
W est in d ie s.. .........................
433,399 4.071,969 10,787,146
267,373
A rgentine R epublic................. (4
366,487 3,501,591 4,549,266
529,696
Brazil ................ 4. i.1. ■
656,002 3,580,834 3,465,773
265,700
U nited S tates of C olom bia...
1,274,850 2,690,341 18,021,293 16,376,778
O ther countries in S. A m erica |4
5,840,869 0,172,350 30,687,798 44,542,940
C hina........................................ »?
O ther countries in A sia and m
432,057 4,928,168 5,428,902
455,074
O ceanica..................................
40,690 4,151,113 5,908,598
149.578
A frica.......... .........................••••
532,910 3,586,708 3.302,731
1,355,684
O ther countries.........................
14,520,840 15.841,779 108.583,203 125,351,434
T otal yards o f above.,
$1,032,784 $1,023,442 $7,154,702 $8,114,483
Total values of above.
$-0648
$■0859
$■0646
$•0711
Value per y a rd ................ .
Values of other M anufactures of
Cotton exported to—
G reat B ritain and I r e la n d .......
1,366
23,402
11,643
161,490
15/213
650
6,422
253,675
63,894
1,546
5,646
6,356
7,124
22,550
295
4,048
2,859
7,392
11,851
5,694
12,401
197
4,730
52,623
42,970
48,435
51,011
158,585
3,507
18,197
18,397
53,214
70,286
50,733
148,152
970
89,879
128,718
1.161,502
117,35b
1,140,795
931,968
8,086,670
882,981
8,997,404
35,167
1,091
Central" A m ericau S tates & B ritish
H onduras....................................
W est In d ies...................................
U nited S tates of C olo m b ia.....
O ther countries in So. A m erica
Asia and O ceanica.......................
A frica........ ...................................
O ther c o untries............................
T otal value o f o th e r m anufac
tu re s o f............. ............................
Aggregate value of all c o tto n goods
O ther countries in E urope..........
B ritish N o rth A m erica...............
$
. 1,950
16,704
152,460
83,372
47,922
419
150
4,057
13,321
15,284
G e r m a n y ................................................
289,337
12,811
E uropean Cotton Consumption to March 1.—By cable
to-day we have Mr. Ellison’s cotton figures bi ought down to
March 1. We give also the revised totals for last year, that
comparison may be made. The spinners’ takings in actual
bales and pounds have been as follows :
March
THE CHRONICLE.
10, 1888.]
October 1 to March 1.
Continent.
Orcat B ritain .
F o r 1 8 8 7 -8 .
Takings b y sp in n ers...b ales
Average w eight of bales___
Takings in p o u n d s................
F o r 1 8 8 6 -7 .
Takings by spinners.. .bales
Average w eight of b a les. . . .
Takings In pounds.................
1,726,000
432
745,632,000
1,561,000
450
702,436,000
Total.
1,667,000
3,393,000
442
437
736,814,000 1,482,446,000
1,453,000
3,014,000
450
450
654,196,000 1,356,626,000
According to the above, the average weight of the deliv
eries in Great Britain is 432 pounds per bale this season,
against 450 pounds^ during the same time last season. The
Continental deliveries average 442 pounds, against 450 pounds
or?
and for th.6 whole of Europe the deliveries average
487 pounds per bale, against 450 pounds last season. Our
dispatch also gives the full movement for this year and last
year m bales of 400 pounds each.
Oct. 1 to Mar. 1.
Bales o f 400 lbs. each,
0004 omitted.
Spinners’ stock O c t l.
Takings in O ctober...
1887-8.
1886-7.
Great Conti
B ritain. nent.
51, .
344,
Total.
167,
222,
218,
566,
Great Conti Total.
B ritain . nent.
55,
274,
166,
161,
221,
435,
Total supply.........
Consump. Oct., 4 wks.
395,
292,
389,
288,
784,
580,
329,
283,
327,
272,
656,
560,
Spinners’ stock Nov. 1
Takings in Novem ber.
103,
372,
101,
464,
204,
836,
41,
357,
55,
255,
96,
612,
Total supply.........
Consump. Nov., 4 wks.
475,
292,
565,
288,
1,040,
580,
393,
288,
310,
272,
708,
560,
Spinners' stock Deo. 1
Takings in December.
183,
472,
277,
556,
460;
1,028,
110,
430,
38,
390,
148,
820,
Total supply.........
Consump. Deo., 5 wks.
655,
365,
833,
360,
1,488,
725,
540,
350,
428,
340,
968,
690,
Spinners' stock Jan. 1
Takings in Jan u ary..
290,
312,
473,
310,
763,
622,
190,
354,
88,
417,
278,
771,
Total supply.........
Consump. Jan., 4 wks.
602,
292,
783,
288,
1,385,
580,
544,
288,
331
constantly have before him the data for seeing the exact relative
movement for the years named. The movement since
Monthly
Receipts.
Y ear B egin n in g September 1.
1887.
1886.
1885.
1884.
1883.
1882.
Sept’mb’r 654,776 359,203 385,642 345,445 343,812 326,656
O ctober.. 1,213,404 1,034,450 1,055,524 1,090,385 1,046,092 980,584
Novemb’r 1,178,436 1,197,259 1,083,552 1,122,164 1,030,380 1,094,697
Decemb’r 963,584 1,161,886 1,069,920 1,104,211 1,059,653 1,112,536
Ja n u a ry . 527,570 644,681 543,393 475,757 487,729 752,827
February 341,274 404,272 414,056 261,449 385,938 595,598
Total....... 4,879,044 4,804,751 4,552,687 4,399,411 4,353,604 4,862,898
Pero’tage o f tot. port
receipts Feb. 29 ..
90-30
84*36
92-11
89-75
80-78
This statement shows that up to Feb. 29 the receipts at the
ports this year were 74,293 bales more than in 1886-7 and
326,357 bales more than at the same time in 1885-6. By add
ing to the totals to Feb. 29 the daily receipts since that time
we shall be able to reach an exact comparison of the move
ment for the different years.
1887-88. 1886-87.
1885-86.
1884-85. 1883-84.
1882-83.
To. Fb.29 4,879,044 4,804,751 4,552,687 4,399,411 4,353,604 4,862,898
M a r .l___
8,316
14,084
8,473
S.
11,840
14,588
“ 2 ....
14,099
10,007
13,276
10,707
S.
24,228
“ 3 ....
11,128
9,250
11,930
10,336
11,144
19,886
“ 4 ....
S.
8,514
15,413
6,318
11,606
S.
15,102
11,247
7,148
9,158
8,443
« 5 ....
26,858
12,980
17,511
7,494
S.
5,792
“ 6 ....
22,876
9,212
5,929
12,797
18,193
“ 7 ....
S.
16,430
8,351
S.
17,649
8,128
“ 8 ....
13,081
13,081
11,436
16,020
“ 9 ....
10,659
12,745
S.
25,695
T o ta l___'4,974,928 4,907,448 4,638,920 4,464,265 4,430,452 5,027,080
Percentage o f total
83-49
portreo’p ts Mar. 9. 92-23
85-99
93-48
91-35
This statement shows that the receipts since Sept. 1 up to
to-night are now 67,480 bales more than they were to the same
505, 1,049, day of the month in 1887 and 836,008 bales more than they
280,
568, were to the same day of the month in 1886. We add to the
Spinners’ stock Feb. 1 310,
495,
805,
256,
225,
481, table the percentages of total port receipts which had been
Takings in February. . 364,
654,
290,
341,
412,
753, received to Mar. 9 in each of the years named.
Th e E xports oe C otton from New York this week show a
Total supply......... 674,
785, 1,459,
597,
637, 1,234,
decrease compared with last week, the total reaching 14,577
Consump. Feb., 4 wks. 292,
580,
288,
288,
280,
568, bales, against 14,934 bales last week. Below we give our usual
Spinners’ stock Mar. 1 382,
497,
879,
309,
357,
666, table, showing the exports of cotton from New York, and the
direction, for each of the last four weeks; also the total exports
The comparison with last year is made more striking by and
direction since September 1, 1887, and in the last column
bringing together the above totals and adding the average th 8 total
for the same period of the previous year.
weekly consumption upiio this time for the two years.
EXPORTS OP COTTON (BALES) PBOM N EW YORK SINCE SEPT. 1 , 1 887,
Oct. 1 to M ar. 1.
Bales o f 400 lbs. each.
0 00s omitted.
1887-8.
Great
B rita in
Total.
Great
B rita in
Conti
Total.
nent.
167,
1,842,
218,
3,706,
55,
1,756,
166,
221,
1,635, 3,391,
2,009,
1,512,
3,924,
3,045,
1,811,
1,502,
1,801, 3,612,
1,444, 2,946,
497,
879,
309,
Conti
nent.
Spinners’ stock Oct. 1.
51,
Takings to Mar. 1 . . . . 1,864,
Supply........................... 1,915,
Consumpti’n 21 weeks 1,533,
Spinners’ stook Mar. 1
"Weekly Consumption,
0 0s omitted.
In October...............
In N ovem ber...........
In December............
In January................
In February........ .
382,
73,0
73,0
73,0
73,0
73,0
Week e n d in g
1886-7.
72,0
72,0
72,0
72,0
72,0
145,0
145,0
145,0
145,0 !
145,0 1
72,0
72,0
70,0
72,0
72,0
357,
68,0
68,0
68,0
70,0
70,0
666,
140,0
140,0
138,0
142,0
142,0
E x p o rted to —
Feb.
16.
Feb.
23.
Mar.
1.
M ar.
8.
Sam e
T otal p erio d
sin ce previ’u t
Sept. 1. year.
Liverpool............... ..... 11,512 16,317 7,788 10.751 306,739 302,466
OtherBritlsh ports...... ...... 2,777 2,334 1,142 65,279 47,087
To t a l t o G t . B r i t a i n . . 11,512 19,094 10,122 11,893 372,018 349,553
Havre........................
Other French ports......
662
470
187
200 ......... .........
To t a l F r e n c h .................
670
696 25,664 37,469
300
......
662
696 25,964 37,469
Bremen______ ________
Hamburg".................
Other ports.................
100
33
763
414 1,424
3,289 1,326 3,187
700 7,859 28,793
738 56,923 62,883
200 88,627 58,632
To t a l t o N o . E u r o p e ..
3,703 2,783 4,050 1,638 153,409 150,368
187
100
350
3p’n,Op’rto,Gibr*lt’r,&c
100
50
300
3,785 5,308
9,350 15,102
The foregoing shows that the weekly consumption in Europe To t a l S p a i n , A c ........ ....... 450 100 350 13,135 20,410
is now 145,000 bales of 400 pounds each, against 142,000 bales
of the same weight at the corresponding time last year. The B r a n d T o t a l .. ....... 15,885 22,514 14,93414,577 564,526 557,800
total spinners’ stocks in Great Britain and on the Continent
T he F ollowing are the Gross R eceipts of Cotton a t
have increased 74,000 bales during the month, and are now New York, Boston, Philadelphia and Baltimore for the past
218,000 bales more than at the same date last season.
week, and since September 1, 1887.
E ast I ndia Crop .—From Messrs. Gaddum, Bythell & Co.’s
P H IL A D E L P H IA B A L T IM O R E .
eport, dated Bombay, February 3, we have the following:
BOSTON.
NEW YORK.
We have nothing fresh to report regarding the Oomra and Bengal
crops. In the Broach districts picking is going on slowly, and ginning
w ill not he general u ntil the middle of this month. A large and good
quality crop is anticipated. Prospects of the Dhollera crop are not quite
so favorable this w e e k ; unseasonable rain has fallen all over the dist
ricts and som e slight damage is reported from som e places,
J u t e B u t t s , B a g g in g , & c . —The
market for bagging is not
very active though a fair amount of business is being done.
Prices are in buyers’ favor and sellers are quoting 5^c. for
lb., 6c. for 1 \ lbs., 6J£c. for 2 lbs. and 7c. for standard
grades, but a slight shading would be made for a lot. Butts
are becoming easier in price, and the market is weak at
1%@115-16c. for proper grades and 2^@2^c. for bagging
qualities.
Comparative P ort R eceipts and D ail y Crop Movement,
Receipts
fro m —
N. O rleans..
S a v a n n a h ..
M obile.........
F lorida........
So. C arolina
N o.C arolina
V irg in ia ....
N orth’n p ’ts
T enn.,& c....
F o re ig n .......
T h is y e ar.
T h is
S in c e
w eek. S e p t. 1.
7.032
8,012
5,823
223,288
287,335
201,876
31
2,405
812
2,421
4,640
110,357
33,232
158,000
58
72,953
2,808
4,705
20
32,851 1,108,613
S in ce
T his
w eek. Sept. 1.
931
T h is
S in c e
w eek. S e p t. 1
1,000
1,000
01,039
3,800
23,074
1,000
5,075
T his
S ince
w eek. Sept. 1 •
51,815
301
17,041
140
2,809
3,533
86,312
6,757
1,820
49,478
225,642
64,513
406
23,111
4,000
32,564
9,508
408,072
8S7
70,101
7,301
174,224
—A comparison of the port movement by weeks is not accurate, L a s t y e a r .. 22,450 1,003,169 10.859 364,452 1,857 84,330 3,862 101,638
as the weeks in different years do not end on the same day of S hipping N ew s . —The exports of cotton from the United
the month. ~We have consequently added to our other standing States the past week, as per latest mail returns, have reached
tables a daily and monthly statement, that the reader m a y 93,019 bales. So far as the Southern ports are concerned, these
THE CHRONICLE,
332
a r e t h e s a m e e x p o r t s r e p o r te d b y t e le g r a p h a n d p u b lis h e d in
t h e C h r o n ic l e la s t F r id a y . W it h r e g a r d t o N e w Y o r k w e
in c lu d e t h e m a n if e s ts o f a ll v e s s e ls c le a r e d u p t o T h u r s d a y .
Total bale*.
N ew Y ork —T o Liverpool, per steam ers City of Berlin, 2,804 ;
Egypt, 1,783; Lake Superior, 2,005; Ptolem y, 694; Republic, 1,8 9 6 ; Wisconsin, 1,569 . . . . : ......... .............................. 1V i? o
To H ull, per steam er Santiago, 1,142.......................................- - To H avre, per steam er La Champagne. 696 ..............................
«40
¿Jjx
To Bremen, per steam ers Fulda, 400 ; Trave, 3 0 0 ....................
T o Hamburg, per steamer Bugia, 7 3 8 ..........................................
'
To Rotterdam, per steam er Leerdam, 1 0 0 ...................................
*r w
To Antwerp, per steam er Rhynland, 1 0 0 ....................................
Jw
To Barcelona, per steam er Alesia, 5 0 ............................................
To Genoa, per steam er Olympia, 3 0 0 ............................ ...........
iiuu
N ew Orleans—To Liverpool, per steam ers Inventor, 4,486 . . .
Navarro, 8 ,0 5 7___Teniers, 2 ,3 8 7 ................................................ k’oÌH
To Bremen, per steam er Ocean King, 5 ,3 7 1 ...........................- - o ,d / i
To St. Petersburg, per ship Orion, 4 ,2 0 1 .................................... 4,2Ui
To Barcelona, per bark Alejandro Bosch, 1 ,0 0 0 ....................... _l,uuu
G alveston —To S t Petersburg, per barks Breidablik, 1,172—
Colin Archer. 2,222 ...................................... ................................ 3,394
S avannah —To Liverpool, per steam er Anjer Head, 4 ,0 4 4 — per
bark Ossuna, 2 ,4 7 7 ...................................................................... -- 6,521
To Reval, per ship Frederick Stang, 3,400 ...p e r bark ___
Victor, 2 .1 5 0 ...............................................
5,oo0
To Palm a de Majorca, per bark Santiago. 8 6 ............................
b®
Charleston —To Bremen, per steamer Carn Brea, 4 ,3 7 5 ........... .
4,375
To Barcelona, per steam er Phoenix, 4 ,2 0 0 ... per bark Espana, 1 ,2 0 0 ............ ....................................- - va ............................. vsJsR
W ilmington—To Liverpool, per ship Etta, 4 ,0 2 0 —
.............. 4,020
West P oint—To Liverpool, per steam er Euskaro, 6 ,0 7 2 .............. b,072
N ewport N ews —To Liverpool, per steam er D ike of Bucking3,595
ham 3 5 9 5 ............... .......................................................
B altimore —To Liverpool, per steam ers Barrowmore, 1,497;
Mentmore, 633; Sarnia, 2,3 2 0 .....................................................
4,450
To Bremen, per steam er Hermann, 1,1 5 6 ...................................
l,lo b
To Rotterdam, per steam er Urbino, 6 7 6 — ..............................
676
B oston—To Liverpool, per steamers Michigan, 2,650 ; Norseman,
1,967 ; Virginian, 1,609.................................................
6,226
P hiladelphia —To Liverpool, per steam er British Princess,
1,319
1 ,3 1 9 .......................................................... - - ..........................
100
To Antwerp; per steamer Vaderland, 1 0 0 ................................
T otal.......................................................................................... ............ 93,019
The particulars of these shipments, arranged in our usual
form, are as follows:
L iver
pool.
N ew York . 10,751
N. Orleans. 14,930
G a lv esto n .
Savannah . 6,521
Charleston.
W ilmingt’n. 4,020
W estP om t. 6,072
N ewport N . 3,595
Baltim ore . 4,450
B o sto n ....... 6,226
Philadel’a . 1,319
R ’l’rdam ,
Brem . Reval, Bareea n d A nt. a n d Iona
H am -St. Peters- an d
H ull. Havre, burg. burg. M’j rca. Genoa. Toted.
300 14,577
200
50
1,142
696 1,438
25,502
5,371 4,201 1,000
3,394
......... 3,394 .........
12,157
......... 5,550
86
9,775
4,375 ......... 5,400
4,020
6,072
3,595
6,282
1,156
676
6,226
1,419
Y.YYY. ’Too
Total . . . . 57,884. 1,142
696 12 ,3 4 0 1 4 ,1 2 1
6,536
300 93,019
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates :
G a l v e s t o n —For Vera Cruz—March 2—Steamer W hitney. 450.
N e w O r l e a n s —For Liverpool—March 2—Steamer Architect, 4 ,6 4 1 ___
March 3—Steamers Actor, 4 ,0 2 0 ----Carribean, 2,445.
F or H avre—March 2—Steamer Arecibo, 4 ,8 7 5 __ March 5—Steamer
Nantes, 6,928.
For Antwerp—March 5—Steamer Nantes, 955.
For St. Petersburg—March 3—Ship Telefon, 4,008.
C h a r l e s t o n —For Barcelona—March 2—Brig Leonardo, 1,250.
For Genoa—March 2—Bark Percy, 1,950.
W il m in g t o n —F o r L iv e rp o o l—M a rc h 3 —B rig D r. W itte , 1 ,0 2 0 .
W e s t P o in t —For Liverpool—March 3 —Steamer Mameluke, 7,165.
B osto n —For Liverpool—Feb. 29—Steamer Pavonia, 496.
B a l t im o r e —For Liverpool—March 5—Steamer Sarm atian,------- .
P h il a d e l p h ia —For Liverpool—March 6—Steamer Lord G ou gh ,------- .
Cotton freights the past week have been as follows :
S a tu r .
M on.
T u es.
W ednes. T h u r s .
F r i.
i H e r p o o l , s te a m d.
564
564 ^
564
564
e64
564
.... ^
....
....
....
Do
s a il...d .
....
....
H a v r e , s t e a m ___c.
932
932
932
®32
932
932
....
....
....
....
Do
s a i l ........... c.
....
....
B re m e n , s te a m . e.
n 32
U 32
U 32
n 32
U 32
X132
....
....
....
....
Do
s a i l ........ e.
....
....
H a m b u r g , s te a m c. 932®516 932®516 932®516 932®516 932®516 932®516
....
....
....
....
Do
s a i l .. .c .
....
....
A m s t’d ’m , s t e a m . c.
30*
30*
30*
30*
30*
30*
....
....
....
....
D o v ia L e ith .d .
....
••••
R e v a l, s t e a m ___ d.
316® % 316®34 316®% 316® % 3I6® % S ie ® ^
....
....
D o s a il........... d.
....
....
....
B a r c e lo n a ,s te a m d.
1364
1364
1364
1364
1364
1364
G e n o a , s t e a m . . .d .
1364
1364
1364
1364
1364
1364
T r ie s te , s t e a m . . . d.
*4
1564
1564
1564
1B64
1564
A n tw e r p , s te a m d. 332® -Hi
7fi4®18 7e4®%
764
764
764
» P er 100 lbs.
[V o l . xl \ t
The tone of the Liverpool market for spots and futures each
day of the week ending Mar. 9 and the daily closing prices
of spot cotton, have been as follows :
Spot.
S atu rday M onday. Tuesday. Wednes. Thursday. F riday.
Market, )
12:30 P.M. J Weak.
Mid.Upl’ds.
5%
Mid. Orl’ns.
5%
S a les...........
8,000
Spec. & exp. 1,000
P ressed
fo r sa le .. Irregular.
F reely
offered.
5^2
58s
10,000
1,000
57ie
5%
12,000
1,000
Futures.
a t Q uiet a t
Market, ? Steady
de
2-64 de
12:30 P.M.J 3-64
cline.
cline.
Market, Ì
4 P. M. $
Steady.
Easy.
57ie
5%
10,000
1,000
F reely
offered.
53g
57i«
12,000
i;5 0 0
Steady at Steady a t Steady a t
2-64 de
4-64 de
1-64 ad
cline.
cline.
vance.
B arely
steady.
Easy.
Steady.
F a ir
business
doing.
53s
57l6
10,000
1,500
Q uiet a t
1-64 a d
vance.
F in n .
The opening, highest, lowest and closing prices of futures at
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
p p " The prices are given in pence a n d Qlths
4 63-64d., an d 5 01 m eans 5 l-64d.
S a t., M a r. 3.
M o n ., M a r . 5
th u s:
4 63 m eans
T n e a ., M a r . 6 .
Open High Low . Clos. Open High Low . Clos. Open High Low. Clos.
M a rc h .........
Mar.-A p ril.
Aprll-May..
M ay-June..
June-J uly..
July-A ug..
A ug.-Sept..
Septem ber.
Sept.-Ocl. ..
d.
5 29
5 29
5 31
5 33
5 35
5 36
536
5 38
5 26
d.
5 29
5 29
5 31
533
5 35
5 36
5 36
5 36
5 28
a.
529
5 29
5 31
5 33
535
5 36
5 36
5 36
5 28
d.
5 29
5 29
5 31
533
5 35
5 36
5 38
5 36
5 28
W ednes, M a r. 7.
d.
5 27
5 27
5 29
5 30
5 32
533
534
534
5 24
d.
5 27
5 27
529
5 SO
5 32
6 33
5 34
d.
5 27
5 27
5 28
529
0 31
5 33
533
5 33
5 24 5 23
d.
5 27
5 27
528
5 29
5 31
5 33
533
5 33
5 23
T h ü r s ., M a r . 8 .
d.
5 24
5 24
525
5 27
5 29
5 30
5 30
5 30
5 20
d.
5 24
5 24
5 25
5 27
5 29
530
5 30
5 30
5 21
d.
5 24
5 21
525
5 27
528
5 30
5 30
5 30
5 20
d.
5 24
5 21
525
527
5 28
5 30
5 30
5 30
5 21
F r i., M a r. 9 .
Open High Low. Clos. Open High Low. Clos. Open High Low. Clos.
M a rc h ........
M ar.-A pril.
A prll-M ay.
M ay-June..
Jon e-July..
Jnly-A ug ..
Aug.-Sept
Septem ber.
Sept.-O ct ..
d.
523
5 23
5 24
5 26
5 27
529
5 29
529
5 20
d.
5 23
523
5 24
5 2i
5 27
5 29
5 29
5 29
5 20
d.
5 21
5 21
5 23
5 21
5 26
5 27
5 27
527
519
d.
5 21
5 21
5 23
5 24
5 28
5 27
5 27
5 27
519
d.
6 22
5 22
5 23
5 25
5 26
5 28
5 28
5 28
5 20
d.
5 22
5 22
5 23
5 25
5 26
528
5 28
5 28
5 20
d.
5 21
0 21
5 22
5 23
5 25
5 27
527
5 27
5 1*
d.
521
5 21
5 22
6 23
5 25
5 27.
5 27
5 27
5 18
d.
524
524
5 25
5 26
5 28
530
5 30
5 30
521
d.
5 24
5 24
5 25
5 27
5 29
5 30
53)
5 30
5 21
d.
5 24
5 21
5 23
5 28
5 28
030
5 30
5 30
5 21
d.
521
5 24
525
5 27
5 29
5 80
5 30
S3«
5 21
B R E A D S T U F F S .
F riday , P. M., March 9 ,1 8 8 8 .
The market for wheat flour has shown rather more activity
for the week under review, and prices have shown a harden
ing tendency. This is especially true of low grades which are
the product of winter wheat. The improvement is due
largely to sympathy with the grain market, but the favorite
brands have been in limited supply, their scarcity restricting
at times the volume of business for export. Flours from
spring wheat were in fair supply, and extreme low grades
were neglected. Rye flour is dearer. To-day the market
closed quiet.
The wheat market opened flat. The speculation in a meas
ure subsided, but the continuation of the railroad strike at
the West, threatening to keep back supplies, strengthened the
early delivery; afterward, the serious illness of Emperor
William caused some improvement in the more distant op
tions. Sympathy with the advance in Indian corn was fre
quently an element of strength to wheat. The higher prices
on the spot kept business for export within narrow limits,
but the milling demand improved. To-day the market was
quiet and unchanged.
DAILY CLOSING PRICES OP
Sat.
March delivery................ ... 90^6
April d eliv ery .................. .. 91
Wfay d elivery.................... .. 915s
Jone d elivery....... . — .. 913«
July delivery.................... .. 9038
Augnsl delivery.................. 89 78
December delivery.......... ... 9332
NO. 2 RED WINTER WHEAT.
Wed. Thurs.
Mon. Tues.
90%
9118
9114
9 0 78
91%
91%
9132
9112
92
915s
9 1 78
9 1 7a
9138
91
9134
9134
90%
905a
903g
9032
90
893s
895s
90ie
935s
93%
93%
9334
F ri.
91
913s
91%
9134
9032
89%
9332
Indian corn developed considerable speculative strength
early in the week, in expectation of a short supply, but the
L iverpool.—By cable from Liverpool we have the follow higher prices brought the export business, as well as the
ing statement of the week’s sales, stocks, &c., at that port, regular trade, nearly to a stand still, and the market became
We add previous weeks for comparison.____________ _
dull and unsettled. To-day the market favored buyers.
Feb. 17.
Sales o f the w eek ...............hales
Of which exporters t o o k ....
Of which speculators to o k ...
Sales A m erican ................ .
Actual exp ort..............................
Forwarded ..................................
Total stock—E stim ated.............
Of which American—Estim ’d
Total Import of the w eek ....... •
Of which Am erican...............
Am ount afloat...........................
Of which Am erican................
63.000
4.000
6.000
49.000
6,000
20.000
852.000
668.000
90.000
66.000
217.000
191.000
Feb. 24.
64.000
4.000
- 5,000
48.000
7.000
21.000
847.000
673.000
77.000
69.000
186.000
160,000
Mar. 2.
69.000
8,000
7.000
52.000
7.000
20.000
871.000
688.000
105.000
78,000
184.000
163.000
Mar. 9.
61,000
6,000
2,000
48.000
7,000
27.000
883.000
705.000
98.000
80.000
179.000
138.000
DAILY CLOSING PRICES OP NO. 2 MIXED CORN.
Wed. Thurs.
Sat.
Mon. Tues.
....
61
6 0 78
....
March delivery.............. . . . 60%
....
61
... 6 0 78
April delivery................ . . . 603s
605s
60%
60%
60%
May delivery................... . . . 59 78
603s
6O34
6038
603e
June delivery................. . . . 59%
005s
60%
60%
60%
July delivery..................
603s
61
6 0 78
60%
August d elivery............. . . . 60
60%
60%
613«
6138
September d elivery.. . . . . . 60
F ri.
6 0 78
61
60%
6 0 ii
60%
60%
60%
Oats show some improvement although business has been
less active. To-day there was a further advance but the close
was dull and irregular.
March
THE CHRONICLE.
10, 1888. j
DAILY CLOSING PRICES OF NO. 2 MIXED OATS.
Mon. Tues.
Wed. Thurs.
Sat.
38%
38%
March delivery.......
38%
3 8is
38%
38
April d eliverv......... ............ 38
38%
38%
37%
May d eliv ery ...........
38
37%
38%
DAILY CLOSING PRICES OF NO. 2 WHITE OATS.
Mon.. Tues.
Wed. Thurs.
Sal.
40%
40%
40%
March d eliv ery .......
40%
.... 40% 40%
....
April deliverv____ .
40
40%
M ay d elivery........... ........... 39%
39%
39%
Fri.
38%
38%
37%
Fri.
40%
40%
39%
Rye, barley, barley malt and buckwheat are nearly nominal.
The following are the closing quotations:
333
The total receipts at the same ports for the period from Jan.
1 to March 3, 1888, compare as follows for four years:
Flour................... bbls.
1888.
2,326,715
1887.
2,601,109
Wheat................ bush.
C om .............................
O ats.............................
Barley..........................
R ye...............................
1,866,688
4,941,631
4.655,222
1,152,712
87,949
6,819,297
1,648,633
6,198,832
9,378.353 23,305,938 21.744,074
5,387,037
5,838,606
5,487,918
1,124,371
1,407,863
1,520,032
126,901
84,683
209,013
*1886.
2,024,835
Total grain................. 12,704,202 22,835,959 32,285,723 35,159,869
FLOUR.
F in e....................$ bbl. $2 15® $2 65 Southern bakers’ and
* Include one week extra.
Saperiine...................... 2 25® 2 95
fam ily b r a n d s ...... $3 50® $4 35
Spring w heat extras. 2 60® 3 10 Rye flour, superfine.. 3 50® 3 70
The exports from the several seaboard ports for the week
Minn, clear and stra’t . 3 50® 4 40
F in e.............................. 2 40®
2 70 ending March 3, 1888, are shown in the annexed statement:
Winter shlpp’gextras. 2 80® 3 20 Com m eal—
Winter X X and X X X . 3 30® 4 40
Western, &o.............. 3 00® 3 25
Exports
P a ten ts......................... 4 10® 4 85
Brandywine............ 3 20® 3 25
Wheat.
Oom .
Flour.
Oats.
Bye.
fro m —
Peas.
Southern supers......... 2 65® 3 00 Buckwheat flour, per
South’n com. e x tr a s.. 3 00® 3 40
lO O lbs____ _______
2 25®
3 25
Bush.
Bush.
G R A IN ,
Bbls.
Bush.
Bush.
Bush.
New York 504,647 156,551
64,417
1,060
3,074
Wheat—
Oats—M ixed............... 38 ® 41
32,389 107,197
Boston. ..
35,204
12,605
Spring, per b u sh . . . 87 ® 96
W hite ............................
® 45
38,667
Portland.
10,903
8,400
Spring No. 2 . . . . . . . 90 ® 91
No. 2 m ixed ..............
40
40,000
N. N e w s.
3,000
Red w inter No. 2. . . 92 ® 93
No. 2 w h ite.............
42
N orfolk..
Red win ter ........... ..
86 ® 94
Barley —
P h ila d el.
108,500,
19,746
White ............................ 85 ® 94
Canada No. 1 ...........
®1 00
Baltim ’re
137,1971
71,973
Oom—West’n m ixed. 59 ® 62%
Two-rowed S tate.. 83 ® 85
N.
Orl’n
s
.
147,705
795
West’n m ixed No. 2. 61 ® 62%
Six-rowed S ta te. . . . 85 ® 90
Ricbm’d .
W estern w h ite ......... 60 ® 63
Milwaukee No. 2 ... 87 ® 90
W estern y e llo w .... 60 ® 63
Malt—State, 4-rowed.
Tot. w ’k. 615,703 657,150 206,038
1,060
24,079
Southern y ello w . . . 61 ® 63
State, 2-rowed .........
95
S’me tim e
B yeB u ck w h ea t.... . . . . . .
70
1887. .. 2,182,129 1,310,700 278,895
4,878
16,509
52,584
State & P a., $ bush. 69 ® 74
The movement of breadstuffs to market is indicated in the
visible supply of grain, comprising the stocks in granary
statement below, prepared by us from the figures of the New at The
the principal points of accumulation at lake and seaboard
York Produce Exchange. We first give the receipts at Western ports,
and
in transit by water, March 3, 1888 :
lake and river ports, arranged so as to present the compata*
Wheat,
O om ,
Oats,
Bye,
B arley,
live movement for the week ending March 3. 1888, and since In store a t—
bush.
bush.
bush.
bush.
bush.
August, for each of the last three years:
5,345,406
857,707 1,063,933
12,885
66,836
Receipts a t—
C hicago........
M ilw aukee...
T o led o.........
D e tro it.........
C le v e la n d ...
St. L o u is.....
P e o ria ...........
D u lu th ..........
M inneapolis.
Flour.
Wheat.
Com.
Oats.
Barley.
Rye.
Bbls.im ibs Bush.60 lbs Bush.56 lbs Bush.32 lbs Bush.48 lbs' B u . 56 Ibf
171,539
151.085 1,001,632
598,125
225,097
15,743
35,405
104.615
14,020
37.000
61,427
8,438
2,438
3,602
21,973
751
1,000
3,446
3 3 /7 6
3,512
20,841
18,281
3,591
73,252
9 /0 0
23,065
2,398
69
13.182
25,594
335,585
51,735
43,604
2,700
5,500
134,950
148,000
31,800
232,301
191,137
146,410
Since Aug. 1.
1887-8........
1886-7*......
1885-6*.......
905,179
842.083
1,385,263
1,523,772
1,257,517
3,427,900
879,517
1,357.058
859,316
385,607
418,907
457,096
30,750
35.790
38 321
7.473.470 80,396.298 55.121,251 47,652/53 19,494/34 1,504,029
6,545,150 86,105,962 50,137.016 42,810,303 18,083.550 1,529,451
5.156.779 45.934.135 62,013,877 38.755,384 10,923,012 2,361,903
The comparative shipments of flour and grain from the same
ports from Jan. 1 to March 3, 1888, inclusive, for four voars
show as followsF lour..........bbls.
1888.
3,181,750
1887.
2,362,176
*1886.
1,795,292
*1885.
2,278,794
W heat........ bush.
C o m --...................
S at?......................
B arley..................
B y e ..................
3,898,975
9,591,944
7,869,426
2,249,720
267,514
3,960,629
6.327.201
6,538,527
1,832,412
118,068
2,650,427
13,963.688
7,559,204
2.656,710
309,962
3,782,638
18,44=4,231
6,825,642
1,427,444
379,634
Total grain ... 23,877,579
* Include one week extra.
18,776,837
27,139,991
30,859,589
-
C h ic a g o ..................
“
a f lo a t.,..
M ilw a u k e e ............
D u lu th ............. ..
T o le d o .....................
D e tro it. . . . . . . . . .
St. L o u i s ................
C in c in n a ti..............
503,880
Tot.w k. ’88.
Sam e w k.’87.
Same wk.’80 .
D o a f lo a t..........
A lb a n y ....................
Bufi a i a ...................
Below are the rail shipments from Western lake and river
ports for four years:
asi ,
■*10ur.............................. bbls.
1888.
Week
Mar. 3.
394=,463
W heat............................bush.
C om .........................................
g a t s ....... * ..............................
B arley.....................................
B y e ...........................................
515.023
761,408
900,444
174,403
18,446
1887.
Week
M ar 5.
310,393
1886,
Week
Mar. 6.
233,523
1885.
Week
Mar. 7.
230,976
1,237,936
304,564
282.323
675,146 1,691,567 1,707,630
776,366
713,352 1,043,055
210,430
207,962
189,417
12,795
36,985
43,234
T o r o n to ...................
M o n tr e a l................
P h i l a d e l p h i a ........
P e o r i a ......................
I n d ia n a p o lis ..........
K a n sa s C ity ..........
B a ltim o re ...........
M in n e a p o lis ..........
ft* Poni
On M ississippi___
On canal & river.
Tot.
Tot.
Tot.
Tot.
Tot.
96,000
2,000
23,500
117.000
243,535
85,900
83,545
52,000
985.480
8,000
4=4,300
66.981
193,300
400,850
606,928
32,939
337,688
17,269
7 8 /9 4
1 4 Ì’,562
132,050
4,917
41,988
32,494
49.000
33,000
2,066,878 1,105,578
128,640
21,000
191,000 205,000
130,125
266,908 114,083
151,857
900
18,690
265,642
6,664
57,791
356,564
1 0 0 /8 1
70,487
74,269
280,520 479,605
74,500
208,025 217,330
286,293
126,880 1 3 2 / 4 9
719,220
516,905
7,571,036
440,000
262,590
24,600
7,600
6,300
16,826
19,318
900
10,484
16,698
58,751
261,800
30,865
39,000
1,457
1,596
3,950
87,000
4,121
178,104
14,006
47,497
3,070
10,842
382,397
376,992
413,358
673.686
430,826
2,409.351
2,486,715
1,853,511
1.255.560
1,647,875
14,235
2,654,783
811,394
34,304
Mar. 3 /8 8 .3 7 ,5 1 5 .9 3 1 9 /4 1 ,6 5 2 4,750,851
Feb. 2 5 .’88 38,461.453 8,848,232 4,872,163
Mar. 5, '87. 55,781.463 15,734.300 4,583,585
Mar. 6, ’86. 51,277,577 12,909.057 2,023.214
Mar. 7 , ’85* 43,628,570 7,387,869 2,931,454
* M inneapolis and St. Paul n ot included.
The exports of wheat from India for the week, year and
season are as below:
Exports o f Wheat fro m In d ia .
Week end’g Week end'g A p ril 1 to
M ar. 3.
Feb. 25.
M ar. 3.
To U nited K ingdom .........
To Continent.....................
80,000
Total.............................
80,000
THE
80,000
80,000
12.900.000
12.140.000
160,000 25,040,000
DRY GOODS T R A D E .
N ew Y o r k , Friday, March 9 ,1 8 8 8 .
Despite labor troubles among the employes of some of the
Western railroads, and strikes at New Bedford and Fall River
T o t a l...............................2,369,724 2,912,673 2,954,430 3,265,659
which threw many operatives out of employment, there was
The rail and lake shipments from same ports for last four a fair business in dry goods the past’week. At first hands the
weeks were:
demand by buyers on the spot ruled Dght. but a good
Week
Flour
Wheat,
Corn,
many re-orders were received by the commission houses
Oats,
B arley,
Bye,
ending—
bbls.
bush.
bush.
bush.
bush.
bush.
Business in jobbing circles was
Mar. 3 , ’88. 406,579 515,023 1,023,998 925,049 174,403 18,446 by mail and wire.
Feb. 2 5 ,’88. 427,201 483,730 1,489,322 985,488 259,368 25,729 moderately active, but hardly up to. expectations, strike
Feb. 18, ’88. 362,744 357.876 1,024,427 959,647 255,252 22,660 troubles and the recent decline in print cloths and
I ’eb. 1 1 /8 8 . 366,521 466,531 837,6951,052,071 [253,282 17,693 raw cotton having rendered buyers somewhat cautious.
Tot. 4 w k s.. 1.563.045 1,823,160 4,375,442 3,922,255 942.305 84,528 I The export demand for staple cotton goods’ was more active,
4 w ks 86-87.1,351,471 2,965,836 3,737,461 2,902,838 8 1 1 / 6 0 43,658 about 3,000 packages having been sold at full prices by a lead
commission house during the week. The demand for
The receipts of flour and grain at the seaboard ports for the ing
imported goods was adversely affected by the pending discus
week ended March 3, 1888, follow:
sion of tariff matters in Congress, but a fair distribution of
Flour,
Wheat,
Corn,
Oats, B arley
B ye
A t—
bbls.
btish.
bush.
bush.
_ I
bush. some descriptions was made by importers and jobbers, and
bush.
N ew York......... 128,627
29,150
8 0 / 1 6 360,000 1 0 3 / 5 0
5,500 considerable deliveries on account of previous transactions
Boston............... 49,690
13,542 143,860 151,255 24,342
2/00 were made by the former. Prices of domestic cotton and
M ontreal...........
6,000
34,650
1,700
17,700
5,400
woolen fabrics have not materially changed, save in the case
Philadelphia. . . 13,765
16,414 120,880
89,630 16,800
■
■
500
B altim ore......... 113,543
28,818 477,871
.........
1,825 of print cloths and low grade bleached goods, which are some
23,250
Richm ond.........
3,390
8,440
11,690
what easier in first hands.
24,390
.........................
Norfolk, Y a ......................
D o m e st ic C o t t o n G o o d s .— The exports of cotton goods
N ew O rlean s... 20,673
334 304,424 .. 3 7 / 9 2
from this port for the week ending March 6 were 1 880
Total week, 335,688 131,348 1,140,541 703,417 149 692
9 925
packages, valued at $115,982. These shipments include’777
Oor. w eek ’8 7 .. 247,323 9 0 9 / 4 0 1,257,851 496,178 1 2 2 /7 5 16,700 to China, 751 to South America, 161 to Mexico, 64 to Europe
TH E CHRONICLE.
334
20.000
438,000 1,583,000
Co n r a d N. J o r d a n ,
P resid en t.
Ch a r l e s J . c a n d a ,
V ice-Pres’t.
F . Bl a n k e n h o r n .
Cashier.
H . A . Sm it h ,
A ssistan t C astle
The W estern National Bank
OF T H E
C IT Y O F N E W Y O R K .
C A PIT A L .
.................................» 3 , 5 0 0 , 0 0 «
N e w Y o r k , May 14,1887.
T h is B ank is now opened fo r business. A cco u n ts
re sp ec tfu lly solicited. T h e u su al banking fa e ilitle i
e x te n d ed to custom ers.
O rders fo r pu rch ase o r sale o f securities will
receiv e carefu l a tte n tio n .
Foreign E xchange bought an d sold. F acilities for
keeping accounts in Sterling Exchange, su b ject to
d ra ft in kind, wiU b e afforded. T h e m ethods o f re
oeiving such deposits a n d m aking .paym ent against
th e m w ill he su b ject to a rran g em en t.
DRAW ON
T H E N A TIONAL PR O V IN CIA L B A N K ) w
OF ENGLAND (Limited,)
> London,
T H E UNION BANK OF LONDON (L’d ),)
H E IN E & CO., P a r i s .
_
JO H A N N GOLL & S O E H N B ,|
S. B LB IC H RO ED ER , B e r l i n .
D EU TSCH SC H W EIZER ISC H E C R E D -) S t G _ 11
IT BANK,
5” ’
F . B L A N K E N H O R N , C ashier.
J . S. A l e x a n d e r , P res.
A. A. A l e x a n d e r , Cas-h’r
Texas National Bank,
SA N A N T O N IO , T E X A S .
COLLECTIONS AND IN V ESTM EN TS MADE.
Correspondence invited.
MERCHANTS’ NATIONAL BANK,
R IC H M O N D , V IR G IN IA .
Collections m ade on all S o u th ern points on b est
term s; prom pt re tu rn s.
JO H N P . BRA NCH, P resid en t.
J ohn F. Gl e n n , Cash. F r ed . R. Scott. V ice-Pres.
R. T . Wilson & Co.,
la*M©
H
p p c o < ip
HS
OO
to<i H H H CO
COOl ©00MOO
tOM ODtOCOJOM
'coosVj'coo
COU*MCOM
MCOCOH H
CO
O
CO
00
00
to
00
CO
05
co
to
CH
HM tO
OSOStOMÖ
<1COto OSO
COOSOOSM
OSOD00OO
OSMO ODOS
CO<J00OSH
H
to
'co tOCOM<J
tococooco
COOtO05CO
COMU*COGO
C00<1050
tO<J ^OtOUlCO
to<t
05M
to
lo 05
05CO
fcOrf*HH
COCO
©m
H tO
COCHtOCO05
Ut COO0500
‘- i © h ¡p- lo
05H CO<JO
öcomM^i
to 00
WÜ1MHO
HMOOMtO
05
to 00 b V c o b c o
O00Ol
Mto tooi C
COM 0001<J<I<I
to
05
CD
U!
05
CO
to
05
CO
CO
05
Ul
H
CO05
GOMto Ul 05
toco COHMtOUl
MC
CO<J 00to CO0005
toes
ow
OObO
GO05 COH 05
<JOiCOOiO
COWMOiOl
05t0 COto<3ODO!
ODO MCOCObOH
005 OHCOOOi
& C A S U A L T Y CO.
OF N EW YORK.
N o s. 2 1 4 & 2 1 6 B R O A D W A Y .
C A PIT A L , $250,000.
ASSETS, about $650,000
Issues SU RETY BONDS, guaranteeing th e fidelity
o f persons in positions o f tru s t, such as em ployees o f
R ailroads, B anks, etc., also A dm inistrators, G uarIssues ACCIDENT
PO LICIES,
si
233
p.C0<JUlCS
cocm V h
HOS<J<JH-^
CHOWCOH
os! o h <j <j
to 00 OScoo
MHOSMM
g H
p
M to
S CO
H to
to
H to
05
W to
s H
CO
w O
pWMHM
V o M to a
a » ;» « ®
oî*-*N)<;oi
’XJ
»
'g
2. a.
“>
t0C0 05MU*
p 3ba
OOtOH<JCO
COHOtOGO-^e
00§■
S oo§
ao£
OtO0000co
H H
CO MtOH tOM
05O MtOCO
to COM^JÒOCO Co
M
CO CD0500050
to
05 toco<im<j
to CCCOH GOb
?
o Oi «t Ot © £■•€£
(JJ • 05HC0HU1 g
05 < juibb w •
00 H tOtOH H
05 05COCOH CO
ffittatJpciaX.
THE
F ID E L IT Y
Pi
tOH O OSM
O<JUtQ0M
coco Mco co
H H tO
0005H COCO
0505CO<100
U105M0:00
wífi-oí-'iq
tOtOMCOOO
œ-L^ta©
I P r c a tx jc ia L
Gilman, Son & Co.,
BANKERS,
NO. 62 C E D A R
STREET.
In addition to a G eneral Banking B usiness, B uy
and Sell G overnm ent Bonds and In v e stm e n t Securi-
containing all
mA l»oPL A T B e GLASS an d B O ILER PO LIC IES o f
approved form s.
A g en ts will appreciate th e advantage o f dealing
w ith a com pany w hich does m ore th a n one line of
£1« P I N E S T R E E T .
business.
d e a l in g s in
OFFICERS.
WM.M.RiCHARDS,Prest. GEO.F.SEWARD,V.-Prest.
i n s u r a n c e : s t o c k s
J o h n M. Cr a n e , Sec.
r o b t .j . H ild a s , A ss. Sec.
BISECTO RS.
A S P E C IA L T Y .
Geo. S. Coe.
A . B. H ull,
A. S. B arnes,
J . S.T .Stranahan. H A . H u r lb u t,. J.G.M cCullough,
Cash paid a t once fo r th e above sec u rities; or th e y
A . E. O rr,
J . D .V erm ilye, T. S. Moore,
G. G. W illiam s. J o h n L. B iker, J . Rogers M axwell, w ill be sold on com m ission a t seller’s option.
W m . M. R ichards.
Geo F Seward.
E. S. B a i l e y ,
Bonds of Suretyship.
NO
OTHER BUSINESS.
T h e G u a r a n t e e Co.
OF NORTH AMERICA.
Cash C ap ital..........................................................$soo,oo(
A ssets an d R esources o v e r............................... «00,000
D eposit w ith Insurance D e p a rtm e n t.............. 240,000
P re sid e n t:
V ice-President:
Si r * t.u t . t . Ga l t ,
H on . J a s . f x r r ie r .
M anaging D ire c to r: E d w a r d R a w l in g s .
N EW YORK O FFIC E :
NO. I l l
BROADW AY.
D. J . TOM PKINS, Secretary.
N e w Y o r k D ir e c t o r s —J oseph W . D re x e L F . P .
D ico tt, L ogan C. M urray, J.E . P ulsford, Jo h n P aton,
E. F . W inslow, E rastus W im an W. B utler D uncan.
STOCKS and BONDS
A t Auction.
T h e U n d e rs ig n e d h o ld R E G U L A R A U C T IO N
SA L E S , o f a ll c la s s e s of
S T O C K S
AND
BONDS,
ON
W EDNESDAYS AND SATURDAYS.
B A N K E R S A N D C O M M ISS IO N M E R C H A N T S
A D R I A N I I . D U L L E R & SO N ,
2 E x c h a n g e C ou rt, N e w Y ork ,
NO. 1 P I N E S T R E E T . N E W Y O R K .
to
0505
tOM
OCO
COo
05CO
GC05
05CO
is
to to05mm
COMGSto OS
OiOSp<ltO-09
Ut CM CO<1
to COCOto CO
to <1o o CO
CO
COMtOOl Ol
MOiMCOOi
HHOiCOtO
OOlHMH
HOl
OH
OlK)
ODCO
OH
to
M05
<1©
M<J
Mp
Oi'm
05<J
ccH
to
<JC0fc0UKH
'bui'b'to'b
O coCOCOCO
Ci MH CO05
tOOl
COCO
COHHtOH
OOCOHÜ1
CJlCOH tOtO
H CO00COCO
GOMCOM<1
to ODMOSCO
MO05HC0
O to O' j' o
OC5tOH£.
coo
P:
p:
B:
14,096
16,292
^ iw a tr c ia l.
co
GOtOtOH M
<JUW<J©
<JG0UiC005
g w B 2.0 5
P n . o h S?
g2»3- EE! p
2,063,109
1,395,586
1,155,857
629,314
610,041
Prints were quiet at first hands, but there was a steady
movement in other printed and woven dress goods, as sateens,
lawns, batistes, ginghams, seersuckers, chambrays, &c., and
prices remain firm and unchanged.
D o m e st ic W o o l e n G o o d s . —There was a less active demand
for clothing woolens at first hands, but desirable mates of
heavy-weight cassimeres, suitings, cheviots, worsteds, &c.,
are now pretty well under the control of orders and prices are
mostly steady. Overcoatings were in light request, but a fair
business was done in cloakings and Jersey cloths. Satinets,
Kentucky jeans and doeskins were sluggish in commission
circles, but moderately active with jobbers. Flannels and
blankets ruled quiet and steady, and a very fair distribution
of all-wool and worsted dress goods was made by agents and
the principal jobbers. Carpets were in light request at first
hands, but a fairly good business was done in jobbing circles.
For wool hosiery and heavy shirts and drawers there was a
moderate inquiry, and some fair-sized orders were placed for
late delivery.
.
, ,
,
F o r e ig n D r y G o o d s . —The demand for imported goods at
first hands was spasmodic and irregular, the prevailing cold
weather having checked operations in summer fabrics to some
extent. Specialties in woven and printed dress goods were in
fair demand, as were black silks and printed pongees; but
colored silks, velvets, plushes and satins ruled quiet, and nb-
Manufactures of—
W o o l ..................
C otton ...............
S ilk ............ .......
F la x ...................
M iscellaneous ......
164,000
jOM
'h 'co
H CO
MUi
5,853,907
45,126
110,580 24,744,569
13,000
1885.
Mar. 7.
503.000
413.000
320.000
347.000
1 155,706 1 30,598,476]
8,000
1,000
None
4,000
H
M
H
O
CO
to
Ot
CO
CO
H
©
00
T o ta l ...............
Ent’d for consumpt
Total stock (p ie c e s )...,....
1888.
Mar. 3.
Im p o rta tio n s o f D r y G oods.
The importations of dry goods at this port for the week
ending March 8,1888, and since Jan. 1, and the same facts for
the corresponding periods of last year are as follows :
g
g
K
W e
P
Total at the p o r t...
Stock o f P rin t Oloths—
H eld by Providence m anufrs..
F a ll R ive r manufacturers...
Providence speculators . . . . . .
Outside speculators (est)... ..
1886.
Mar. 6.
105.000
57.000
256.000
XLYI.
bons were only in moderate request. Linens, white goods*
embroideries, lace3, hosiery and gloves were jobbed in fair
quantities, and prices remain steady.
62 to the West Indies, 24 to Liberia, 14 to Central America,
and 27 to all other countries. Since the 1st of January the
exports aggregate 30,043 packages, valued at $1,766,278. Of
this total China has had 13,612 packages, valued at $657,082,
and 5,256 packages, valued at $335,484, have gone to
South America. For the similar period of 1887 the exports
to all ports reached 35,171 packages and in 1886 were
38,068 packages. The demand for staple cotton goods
at first hards was steady, though moderate, and the
most active goods in the market were cotton flannels, for
which large orders were placed for future delivery. The
jobbing trade in plain and colored cottons was fairly active,
but barely up to expectations. Other than print cloths, and
low grade brown and bleached cottons, goods are firmly held,
and stocks are in very good shape as a rule. Print cloths were
only in moderate demand, but prices ruled steady at the late
decline; say 3%c. for 64x64s and 3 5-16c. asked for 56x60s.
Stocks last week, and for the three previous years was as fol
lows:
1887.
Mar. 5.
48.000
64.000
27.000
25.000
[Y o l .
H . L. Grant,
No.
145
B R O A D W A Y ,
N EW YORK.
CITY RAILROAD STOCKS & BONDS
BOUGHT AND SOLD.
See Q uotations of City R ailroads in thin panar.
A lb ert Pearce,
16 & 18 B R O A D ST.,
B RO K ER IN A L L KINDS OF IN V ESTM EN T
BONDS, M ISCELLANEOUS SE C U R IT IES
AND D EFA U L TE D BONDS.
C o r r e s p o n d e n c e S o lic ite d .
F. H. Smith,
BANKER
N o. 20
BROAD
& BROKER,
ST ., N E W
YORK.
S p e c u l a t i v e A c c o u n ts S o l i c i t e d .
O rders received in Stocks fo r large o r sm all
am ounts, e ith e r fo r cash or on m argin.
P a rtic u la r a tte n tio n given to in vestm en ts;
A ll Issues of bonds, e ith e r in d e fa u lt o r o th e r
wise, carefully quoted.
TW EN TY Y EA R S’ E X P E R IE N C E .
F . H . Sm it h , 1 M embers Consolidated Stook and
s_ w . S m i t h , i P etroleum E xchange, Now Y ork.
March
THE CHRONTG l,
10, 1888.]
©awadiatt and ^jncetgn Sanfea and Bankers.
via
__________ I f g f l e i f l u . ________
C A N A D IA N .
F O R E IG N
The Bank of Australasia.
Bank o f Montreal.
THE
4 Th read n eed le Street, L o n d o n .
. (Incorporated by R oyal C harter, 1835.)
[E ST A B L ISH E D 1818.]
Railway Share Trust Co.
CA PITA Ii P aid in - - 8 1 3 ,0 0 0 ,0 0 0 Gold
SU R P L U S
9 6 ,0 0 0 ,0 0 0 Gold
H o n . Sir DONALD A . SM ITH , P resid en t.
W . J . BUCHANAN, G eneral M anager.
N E W YORK OFFICE:
N os. 69 & 61 W A L L S T R E E T ,
W a l t e r W a tso n ,!
A l e x ’r L a n g ,
j Agents-
(L IM IT E D ).
No. 4
RANK
B U ILD IN G S
LONDON, ENGLAND.
C apital P a id U p , £971,360 Sterling.
Imperial Bank of Canada.
C A P I T A L (p a id u p )9 1 ,5 0 0 ,0 0 0
SU RPLUS
5 5 0 ,0 0 0
H . S. H OW LAND. P r e s ’t. T. R . M ER R ITT , V .-P.
D. R . W IL K IE , Cashier.
H E A D O F F IC E , TO R O N T O .
B ranches in Ontario .—E ssex C entre, Fergus,
G alt, Ingersoll, N iagara Falls, P o r t Colborne, *St.
C atharines/" St. Thom as, T o ro n to (Yonge St. Br.),
W elland, W oodstock.
B ranches in Northwest—W innipeg, B randon,
Calgary.
A gents in London : ] *
TnTlr.
L loyd’s B a rn e tt’s & Bos- b a n k o r 1M o n t r e a c
a n q u e t’s Bank, lim ited. | 13ANK or Montreal.
Collections prom ptly m ade in a n y p a rt o f C anada.
D ra w e r s of S te rlin g E x c h a n g e .
Hong Kong & Shanghai
B A N K IN G
C O R P O R A T IO N .
Railways a nd o th e r Corporations, e ith e r in th e m a t
Paid-up C apital.................................................. *7,500,000
R eserve F u n d .................................................... 3,900,000
R eserve Liability o f P ro p rieto rs................. 7,500,000
- T h e C orporation g ra n t D rafts, issue L e tte rs o f
C redit fo r use of Travellers, and negotiate or eolleot
Bills payable a t Bombay, C alcutta, Singapore,
Saigon, M anila, H ong Kong, Foochow, Amoy,
Ningpo, Shanghai, H ankow , Yokoham a, Hiogo, San
Francisco and London.
te r o f paym ents of In te re s t on Loans, D ividends on
A . M . T O W N S E N D , A gen t, 60 W a l l St.
B uy an d sell Sterling and C ontinental Exchange
a n d Cable T ra n s fe rs ; g ra n t Commercial and T ravel
T his Company undertakes th e business o f T ru stee
e rs’ C redits, available in any p a rt o f th e W orld;
to
Loans o f approved Railways, negotiates and
issu e d ra fts on, a n d m ake collections in, Chicago
an d th ro u g h o u t th e Dom inion o f Canada.
Issues Loans on th e L ondon M arket, acts as A g en t fo r
Ii )H do n Office« N o. 22 A k ch u rcli L an e.
P aid-up Capital, . . . . . . £1,600,000
R eserve F u n d , - - . . . . .
800,000
R eserve L iability of P roprietors
u nder th e C harter - - - - 1,600,000
L e tte rs o f C redit and D ra fts issued on any o f th e
num erous branches of th e B ank th ro u g h o u t Atutra lla a nd New Zealand.
Bills n e gotiated or s e n t fo r collection.
Telegraphic tra n sfe rs m ade.
D eposits received in L ondon a t in te re st fo r fixed
periods, on term s w hich m av be ascertained on a n .
plication.
PR ID B A U X SELBY, Secretary.
o r R egistration of Stooks in London, or otherw ise.
Cable Address—PAVY, L o n d o n .
R E G IS T R A T IO N OF
American Kailway Shares,
EQ UITA BLE
Mortgage Company.
„ t h e EN G LISH ASSOCIATION OF AMERICAS
BOND AND SH A R EH O LD ERS (LIM ITED ) ar<
prepared:
1. To obtain R egistration of A m erican Railway
Capital Subscribed...................... 9 3 ,0 0 0 ,0 0 0
Shares in th e nam e of th e A ssociation, lodge th e n
w ith th e London & W estm inster Bank, a nd issue
Paid In (Cash)................................ 1 ,9 0 0 ,0 0 0
against th e deposited Shares th e C ertificates of the
A ssociation, countersigned by th e B ank. T he certi
D E B E N T U R E S ,
ficates h av e coupons fo r dividends a tta ch e d , anc
B earing 6 p er cent, run n in g te n years and based
upon p resentation of th e a dvertised coupon a t the
office o f th e A ssociation th e dividends m ay be ob- exclusively u pon W estern F arm M ortgages, held in
tru s t by th e A m erican L oan & T ru st Company, o f
tam ed th e sam e day th e y a re payable in th e U. 8.
New York, fo r th e benefit of th e bondholders. T heir
2. Or th e y will obtain R egistration o f Shares in
th e nam e of th e Association, deliver up th e Shares safety, tim e to ru n and ra te of in te re s t m ake them
duly endorsed to th e ow ner, and pay tn e dividends th e m o st desirable in v estm en t now offered. Also,
a t th e office of th e A ssociation in London th e same
day th e y are payable in th e U nited States.
GUARANTEED FARM MORTGAGES.
OF CANADA.
8. Or th e y will obtain R egistration o f Shares in
O F F IC E S i
th
e
ow
ner’s
nam
e,
and
collect
th
e
dividends
by
C apital, P aid Up. • • • $5,799,200 power-of attorney.
York, 208 B roadw ay I P hila,, cor. 4th& C hestnut
U n d er plan No. 1 B ritish holders o f A m erican New
Boston,
23
C
ourt
St.
I K ansas City, 7th& Del.Sts
E e s e r v e , .............................. 1,700,000 shares
sire enabled when necessary to ta k e im m edi
a te com bined action in voting, th e power being used
H E A D O F F IC E , M O N T R E A L .
by th e A ssociation on in structions from holders of
certificates representing shares in a ny p a rticular
A N D REW ALLA N, Esq., ^ resid en t.
railw ay. This plan also affords absolute security to
RO BERT ANDERSON, Esq., V ice-President, lenders of m oney on A m erican shares, as Associ 6
a
tio n certificates are only issued upon newly-verified
GEORGE H A G U E. G eneral M anager.
sh are certificates.
00
JO H N G A U LT, B ranch Superintendent.
T h e original A m erican shares can always be re
exchanged a ts h o r t notice, fre e o f expense, on pre O
160 N assau Street, N e w F o r k ,
BA N K ERS :
sen ta tio n o f th e A ssociation’s C ertificates a t th e
LONDON, ENG.—T h e Clydesdale B ank (Lim ited.)
office.
T i Offer extraordinary inducements in
N E W YORK—T he B ank o f New York, N. B. A.
T h e charge fo r registration and fo r th e A ssoci
A general B anking business tra n sac te d . L e tte rs a tio
n ’s C ertificates is 3d. per share.
J )
IN V E S T M E N T S E C U R I T I E S
o f C redit issued, available in China, J a p a n a n d
SAM UEL P O PE .Q .C ., C hairm an.
o th e r foreign countries,',
JO S E P H PR IC E, M anaging D irector.
A LL GUARANTEED,
F
.
P
.
BA
X
TER
,
Secretary.
N e w F o r k A gency, N o. 61 W a l l Street.
A ssets, October 1st, 1887, $1,866,836 68.
Nos. 5 and 6 G reat W inchester St., London, E. C.
HENRY HAGUE,
)
T h e A ssociation acts as T ran sfer A gents in Lon
Send fo r full inform ation a nd references.
JO H N B . H A R R IS , JR .. J Agent*.
don fo r A m erican R ailw ay Companies, in conjunc
tio n w ith th e L ondon a gents o f th e M ercantile
T ru st Company of New York as R egistrars.
THE WESTERN FARM MORTGAGE
A gents in th e U nited States,
A G E N C Y OF T H E
_____________POOR & GREENOUGH, 36 W all St.
L a w re n c e ,
TRUST CO.,
K a n sa s.
The Merchants’ Bank
% THE AMERICAN
G
INVESTMENT
B
Blake, Boissevam & Co.,
a n k
or
B ritish N orth A merica.
N o. 5 2 W A L L
STREET.
¡LONDON,
ENGLAND,
N egotiate Railway, State and City loans.
Execute orders fo r Bonds, Shares, etc., on Com
"Buy and-sell Sterling E xchange an d Cable T ran s
mission, and tra n sa c t a general B anking and
fe rs . Issu e dem and d ra fts on Scotland a n d Irelan d ;
Commission B usiness.
•also on Canada, B ritish Colum bia a n d San FranSpecial attention given to th e e xecution of
•cisco.
C I R C U L A R N O T E S issued in Fo u n d s S ter
orders fo r Securities on th e New York, Lon
lin g , available in all p a rts o f th e w orld. C O M
don and A m sterdam E xchanges, in corres
M E R C I A L C R E D I T S I S S U E D fo r use in
Europe, China, Ja p a n , E a s t an d W est In d ies a n d
pondence w ith
th e Brazils, R iv er P late, &c.
Bills collected an d o th e r banking business tra n s
B L A K E B R O T H E R S & C O .,
acted.
D. A. M cT A V ISH ,) * 0 +
18 W a ll Street, N e w F o r k ,
H . STIKEM AN,
J A gents.
38 State Street, B o sto n , M ass,
AND
F O R E IG N ,
A D O L P H B O I S S E V A I N & CO .
A m sterdam , H o lla n d .
THE
Anglo-Californian Bank
(LIM ITED).
L O N D O N , H ead Office, 3 A ngel Court.
S A N F R A N C IS C O Office, 200 Sansome S t
N E W F O R K Correspondents,
J. A W. Sellgman A Co.
B O S T O N Correspond’ts, M assachusetts N. Bk.
Heinemann & Co.,
62 Gresham House, E: C.,
LONDON.
,
C apital,
9 1 ,0 0 0 0 0 0
7 P er Cent G uaranteed M ortgages.
0 P er Cent Gold D eoentures.
S. O. Thacher , P res. N at. Bank, Law rence, K an.,
P re st.; G. W . E. Griffith , P re s t. M erchants’ N at.
B ank, Law rence, K an., General Manager.
F. M. P erkins , 1st vice-Prest.; M. V. B. B ull, 2d
Vice-Prest.: L. H. P erkins , Secretary.
40 & 43 W all St., N.Y. City, W m .T. P r a t t , M an’r.
A lbany, N.Y., M.V.B. B u l l & Co., M’rs N.Y.&N.E.
W rite fo r full inform ation,
L. H . PE R K IN S, Sec., Law rence, K ansas.
'T H E M I D D L E S E X B A N K I N G OO.,
M IDDLETOW N, CONN.
Capital Stock, P aid ap, - - - • 9 5 0 0 ,0 0 9
S I X PER CENT F IR S T MORTGAGE
DEBEN TURE BONDS
a nd m ortgage notes g uaranteed. In te re s t payable a t
N ational B ank of th e B epublic, New York. U nder
sam e supervision as Savings Banks. C hartered
1 8 7 3 . T he am ount of outstandin g obligation
L im ite d b y S ta tu te .
Offices—Boston, 54 E quitable B uilding; New York.
11 W all St.; P hiladelphia, 512 W alnut a t.
MINNEAPOLIS 6 PER CENT GOLD
DEBENTURES,
Q U A D R U P L F SECURED.
S A F E AN D MOST D ESIR A B L E SECU R ITIES.
Send fo r circular o r apply to
N E H E R A C A R P E N T E R , B an k ers,
TROY. N. Y.
E a ste rn M anagers fo r M inneapolis Debenture and
N orthw estern G uaranty L oan Companies.
A uthorized C apital, $4.000,000; Paid-up Capital,
$350,000; Surplus, $50,701.
Solicit accounts and agencies of Banks, Hallways
Corporations, Firms and Individuals upon
favorable terms; also orders for the pur*
- 1,500,000
- - 500,000
chase and sale of Bonds, Shares, Ae., Ac. on
Important Notice.
the Stock Exchange.
T ran sa ct a general banking business. Issu e Co
merclal Credits a n d Bills o f Exchange,available in
Interest allowed on Deposits, subject to 60-days TO HOLDERS OF KANSAS REAL ESTATE
p arts o f th e world. Collections a n d orders fo r Bom
sight drafts, at Bank of England rate, and
Stocks, etc., executed upon th e m o st fav o rab le terx
MORTGAGES:
one per cent below that rate subject to
F R E D ’K F . LOW ,
)„
Bend to HOD G ES A KNOX, TO PEK A , KAN SA S,
demand drafts.
IGN A TZ 8T E IN H A R T , 1 Managera
fo
r
F
re
e
P
a
m
p
h
le
t
containing th e com piledjLaw s of
P . N . LILK N TH A L, Cashier.
K ansas re la tin g to B eal E s ta te M ortgages.
Negotiate Railway, State and OitySLoan*.
A u th o riz ed C ap ital, P a id -u p C apital, - R eserve F u n d , - - -
- $6,000,000
THE CHRONICLE.
V II
fatiRets auxl "ßxohtxs ©ut oí l|£m
^axU.
Wilson, Colston & Co.,
Brewster, Cobb
BANKERS AND BROKERS,
(M embers of B altim ore Stock Exchange),
& Estabrook,
B A L T IM O R E .
BANKERS,
N o.
35 C O NG R E SS S T R E E T ,
BO STO N .
MRMRUBS OF THE NEW YORK AND
BOSTON STOCK EXCHANGES.
ALSO,
B M l e n in M u n ic ip a l, State, R a ilr o a d
a n d U n ite d States B o n d s.
Irving A. Evans & Co.,
■ BANKERS AND BROKERS,
N o . 53 S T A T E S T R E E T ,
B O STO N .
MEMBERS OF BOSTON, NEW YORK AND
PHILADELPHIA STOCK EXCHANGES.
S t o c k s a n d B o n d s B o u g h t a n d Sold
_____________In a ll M ark ets.___________ __
J o sh u a W il bo u r ,
Ch a r l e s H. Sh el do n , J b
Be n ja m in A . J ack so n , W il liam B in n e y , J b .
Wilbour, Jackson & Co •J
(INVESTM ENT and SO U TH ERN SECU RITIES
a specialty.)
.
C orrespondence solicited a nd in form ation fu r
nished.
N, Y. C orrespondents—M cKI m B b o t h k b s & Co.
Robert Garrett & Sons,
BANKERS,
N o.
7
SOUTH
STR E ET,
B A L T IM O R E .
A .S 'A ^ I
> »*
A
G ENERAL
HA.Vr i V .
OOVKSTIU
«INKP.S
H. B. Morehead & Co.,
N o . 51 W e st T liir d S tr e e t,
CINCINNATI. OHIO
s n e c le lt.v . A n iiH I . r O s a s r l i t t i v * l . i « r .
M A ST ER ’S S IL E .
MEMBERS
New York and Philadelphia Stock Exchanges.
Pittsburg Petroleum, Stock and Metal Exchange
Private wires to New York, Boston, Philadelphia
Baltimore and Washington.
Whitney & Stephenson,
Humphreys Cast lemán,
C. W . Branch & Co.,
A. L. Hartridge,
E Q U IT A B L E LIFE
ASSURANCE SOCIETY.
In S urplus (namely the excess of
accumulated funds over liabilities), in
P remium I ncome, in the amount of
A ssurance in F orce , the Equitable
Life Assurance Society exceeds every
other life assurance company, and may
be regarded as the largest and strongest
organization of its kind in the world.
A ssets January 1, 1888..................
Liabilities on 4 per cent b a sis.. . . .
$84,378,904
66,274,650
Surplus on 4 per cent b asis............
18,104,254
New A ssuranoein 188 7 ......... ...... $138,023,105
Outstanding Assurance.................. 483,029,562
TN
THE
C IR C U IT
COURT
OF T H E
JL U N ITE D STA TES in a nd fo r th e S outhern Dis
tric t o f Iow a, E a ste rn D ivision.
T H E CEN TRA L TR U ST CO.
OF N EW YORK, e t al.,
C om plainants.
V8.
'
T H E W A BA SH ST. LOUIS
& PA CIFIC R A ILW A Y
COMPANY, e t al.,
D efendants.
IN
T H E C IT Y O F N S W
261, 262
YORK.
& 263
Broadway, New York.
GEO. H . BURFORD , P resid en t.
C. P. F k a l e ig h , Sec.
A .W h e e l wr ig h t , A sst. Sec.
W m . T. St a n .jkn , A ctuary.
IN EQU ITY .
NO.
ORIGINAL B ILL .
T H E FA R M ER S’ LOAN &
TR U ST CO. as T ru ste e
u n d e r th e M ortgage m ade
to It by th e CEN TER
V IL L E MORAVIA & A LB IA RA ILR O A D CO.,
CROSS-BILL.
Cross-Complainants,
vs.
T H E CEN TRA L TR U ST CO.
BANKERS AND BROKERS,
OF N EW YORK
and
JA M ES CHENEY, e t al.,
No. 1 3 9 South Fourth S t., P hilad elph ia.
C
ross-D
efendants.
Railroad, Municipal and other desirable invest
ment Securities for sale.
_
PU B LIC NOTICE is hereby given th a t in p u rsu
Transact a general banking business. Allow inter
est on deposits.
_ , . , ,,
__ ance o f a d ecree en tered in th e above-entitled cause
Members of the Philadelphia and New York Stoch on th e 22d day of Septem ber. 1886, a nd modified by
Exchanges, and connected by private wire with Neu th e C ourt in its ord er of d a te F ebruary 18,1888,1, th e
Standing M aster in. C hancery of said
York.
_________ _________________ ________ undersigned
C ourt and nam ed in said order, will on th e 12th day
of
April,
1888,
a t th e fro n t door of th e building in
P I T T S B U R G H , PA.
which th e U nited S tates C ourts a re held in th e city of
K eokuk, In th e S ta te of Iowa, m ake sale a t public
ESTABLISHED 1871.
auction o f th e m ortgaged prem ises em braced In said
cause, as a n en tire ty w ithout appraisem ent, and
w ith o u t any rig h t reserved on th e p a rt of any person
o r persons w hom soever to redeem th e sam e, which
m ortgaged prem ises a re described in said decree as
BANKERS AND BROKERS,
also in a certain in d e n tu re of m ortgage or deed of
tru s t,d a te d th e 6th day of F eb ru ary ,1880, ex ecu ted by
No* 67 F O U R T H A V E N U E .
th e C enterville M oravia & A lbia R ailroad Company,
a n d by it delivered to th e F a rm e rs’ L oan & T ru st
Oldest Pittsburgh members N.Y. Stock Exchange
Company, as follows, viz.: A ll and singular th e en
tir e railro ad of th e said C enterville M oravia & A lbia
ATLANTA.
R ailroad Company, extending from a ju n c tio n w ith
th e M issouri Iow a & N ebraska R ailw ay Company,
in th e vicinity of i enterville, in A ppanoose County,
S tate o f Iowa, to a ju n c tio n w ith th e C entral iow a
BROKER AND DEALER IN ALL KINDS OF Railway, in th e vicinity of Albia, in M onroe County,
Iowa, which was on th e six th day o f F ebruary, 1880,
SECURITIES.
b u ilt and constructed, and its franchises,
Bonds and Stocks bought or sold on commission. being
equipm ent, property, tools a nd in te re st, th a t is to
Georgia and Alai ama Securities specially dealt In.
say, th e lands, tenem ents, fixtures, goods and c h a t
Correspondente —Tobey & Kirk and A-Dutenhofer, tels,
o f said C enterville M oravia & A lbia R ailroad
jjjr0^^ y
its property rights, privileges, in te re sts
References—Af lanta National Bank, Atlanta, Ga., Company,
and e sta te of every description and n a tu re , its rails,
and Fourth National Bank. New York.
ties, fences, buildings.and erections, its rig h ts of way,
cars, engines, tools a nd m achinery, its re n ts, re s e r
vations, incom es, tolls a nd reversions of every n a
tu re , including all th e property of w hatsoever kind
o r ch arac te r which th e said C enterville M oravia &
A lbia R ailroad Company th e n possessed or m ight
BANKERS AND BROKERS,
th e re a fte r acquire, w ith th e benefit of all c o n tra c ts
w hich said C enterville M oravia & A lbia R ailroad
STATE BANK BUILDING
Company h a d m ade or by assignm ent or succession
held, or m ight th e re a fte r m ake or have, e ith e r in
R IC H M O N D , VA.
law o r equity, a nd th e rig h t of all tolls, incom e, is
Private wires connecting with Washington, Balti sues, profits and in te re sts w hich m ight th e re a fte r
accrue to th e said C enterville M oravia & A lbia R ail
more, Philadelphia and New York.
ro ad Company, from any sM rak w hatever, including
a ll th e pro p erty acquired Jfy M id C enterville Mora-'
via & A lbia R ailroad C orum ny since th e d a te of said
m ortgage.
By th e te rm s of sale in said decree prescribed, th e
S A V A N N A H , G A .,
p u rch aser a t said sale is re q u ire d of th e purchase
price to pay n o t less th a n five th o u san d dollars
SECURITY BROKER.
in cash ; and on final s ettlem e n t to pay in cash
Buys and sells, on commission all classes of Stocks such sum or sum s as th e C ourt shall h e re a fte r d irect
to m eet any claim as th e C ourt m ay adjudge to be.
and Bonds
. . .,
... _
prio r in equity to th e lien of said m ortgage, or deed
Negotiates loans on marketable securities.
New York Quotatians furnished by private ticker o f t r u s t ; a nd any o th e r paym ents w hich th e C ourt
every fifteen minutes.______ __________________ m ay adjudge to be necessary to be paid in cash, and
th e balance of th e purchase price n o t required to be
paid in cash m ay he paid e ith e r in cash or in bonds
T H O M A S B R A N C H & CO.,
a n d over-due coupons, secured by said m ortgage or
H^HKHRS AND COMMISSION MERCHANTS, deed of tru s t, to be received in paym ent a t such
price or value as w ould be equivalent to th e d istrib
R IC H M O N D , V I R G I N I A .
u tiv e am o unt or share thao th e holder or holders
Circulars and information on funding the debts of th e re o f would be entitled to receive th ereo n , in case
Virginia and North Carolina free of cost; one-eighth th e e n tire am o u n t of th e bid wA-e paid in oe«h.
P. T LOMAX,
p e rc e n t charged for funding. Southern Railroad
■ H ¿¿.Standing M aster
Chancery of said Coot
and State and City Bonds bonght and sold.
E. W . Clark & Co.,
THE
(ORGANIZED IN 1850.)
Dealers in Commercial Paper, Government and
other first-class Bonds and Securities and Foreign
KPrivat«?telegrapli wire to New York and Boston.
485 W o o d S tr e e t, P it t s b u r g , P a
u tt.
N . W. Harris & Co., The United States Life
C H IC A G O a n d B O S T O N .
Insurance Co.
BONO S oi Counties. Cities, Ac., of high grade a
f & e g a l.
BANKERS AND BROKERS,
ß u s u m
STOCK, BOND AND NOTE BROKERS,
P R O V ID E S !C E , R . I .
AND DEALERS IN FOREIGN EXCHANGE,
AND
W m. F a ir l e y
H. B. MOREHEAD.
BANKERS AND BROKERS,
N o. 53 W E Y B O S S E T S T R E E T ,
Rea Bros. & Co.,
[Vol. XLVI.
I n c r e a s e i n A s s is t s o v e r - - I n c r e a se in Ne w B u s in e s s , - I n c r e a s e o p B u s in e s s in F o r c e ,
•
$ 1 0 0 ,0 0 0
- 4 0 per cent.
- $ 2 ,4 0 0 ,0 0 0
POLICIES INCONTESTABLE.
CLAIMS PA ID PRO M PTLY.
TEN DAYS’ GRACE.
A BSOLUTE SECURITY.
The most lib eral and equitable contract
consistent w ith recognized bu sin ess prin
ciples.
GOOD AGENTS, desiring to re p re sen t th e Com
pany, a re in v ite d to address J . S . G A F F N E Y ,
Superintendent of A gencies, a t H om e Office.
M ANHATTAN
L I F E IN S U R A N C E C O M P A N Y ,
150 AND 158 BROADWAY, NEW YORK.
Organized A. D. 1850.
TO JANUARY 1, 1887.
Premiums received...... ......... ..................
Claims paid to policy-holders, returned
premiums, dividends, etc........................ 2«,w60,7w
Assfits «•••••
••••••••••»••• • U joAOjwOo
DESCRIPTION—One of the oldest, strongest, best.
POLICIES—Incontestable, non-forfeitable, defin
ite cash surrender values.
RATES—Safe, low, and participating or not, as
desired.
RISKS careful and selected.
PROMPT, liberal dealing.
'
General Agents and Canvassers wanted in desir
able territory, to whom permanent employment and
liberal compensation will be given. Address,
JAMES M. MCLEAN. President.
J. L. Halsey, 1st Y.-Pres. H. B. Btokes, 2d V-Pres.
H. Y. Wemnl e Secretar
8. N. Stebbins Actuary.
U N IO N M U T U A L
Life Insurance Company,
P O R T L A N D , M A IN E .
INCORPORATED 1848.
JOHN E. DE W ITT, P resident.
I t s view s (ire varied a n d a d a p ted to all civcunistancfs .
T h e r e is n o th in g in L if e In s u r a n c e w h ich i t d o es
n o t f u r n is h cheaply* p ro fita b ly a n d ln t^ lig ib ly .
Send to the Company’s Home office, Portland, Me.,
or any of its Agents for publications describing its
M A IN E L A W CONVERTIBLE POLICY, CLASS
“A ’’ or its 7 PER CENT GUARANTEED BOND
PO’LICY. CLASS “A,” and other Forms of Bond
Policies: also for pamphlet explanatory of the
Maine Non-Forfeiture Lwv, and lor list of claims
paid thereunder.
:
WE SOLICIT THE AGENCY
OF
N A T IO N A L
BANKS
A t a C h arge o f $5 p er A n n u m .
GftEEN & CUNNINGHAM,
R e a l E sta te B r o k e r s
1405 F STREET, WASHINGTON, D. C.
Reference: Hon, A. U. Wym an , Ex-Treasurer
U. 8„ Omaha, Neb.
^
March
THE CHRONICLE.
10, 1888.]
%xtsmvxvitz.
i¿
itia ttfm .
IP is x x X Ia n c im s .
ESTA B LISH ED 1S55.
Eugene
S T A T IO N E R
R. Cole,
A N » P R IN T E R .
Supplies Banks, Bankers, Stock B rokers a n d Corpo
rations w ith com plete outfits of A ccount Books and
Sta tio nery
*W~ New concerns organising will h av e th e ir orders
prom ptly e xecuted.
OFFICE OF THE
N o . 1 W IL L IA M
A T L A N T I C
STREET,
(HA N O V ER SQUARE.)
Crenshaw & Wisner,
16 Sc 18 E x c h a n g e P la c e , N e w Y o r k ,
C O M M IS S IO N M E R C H A N T S ,
Me >ers o f th e C otton, Coffee a nd Prodnoe B xch’s
AGENCY OF
THE HAXALL CRENSHAW CO.,
RICHMOND, VA.
Standard B rands o f F lo u r fo r Shipm ent to W arns
Clim ates always on hand.
ORIENT CHJAN0 MANUFACT’fl C0„
Mutual Insurance Co., Geo. Copeland
Co.,
ORIENT, L . I.
Standard Superphosphates.
SULPHUR MINES COMPANY
OF VIRGINIA.
COTTON BROKERS,
H igh G rade P y rite s free from A rsenic.
H
NEW YORK, January 24,1868.
The Trustees, In conformity to the Charter oi
the Company, submit the following Statement
of Its affairs on the 31st of December, 1887 :
Premiums on Marine Risks from
1st January, 1887, to 31st
December, 1887........................$3,642 969 09
Premiums on Polloies not maiked
oft 1st January, 1887
1,417 600 13
4
P E A R L S TR E E T, NEW YO R K .
SECURE BANK VAULTS.
M anufacturers a nd D ealers la
C O T T O N SAILDUCK
A nd all kinds of
Total Marine Premiums.____ $5,060 569 22
WELDED CHROME STEEL AND IRON
Premiums marked oft from 1st
January, 1887, to 31st Decem
ber, 1887.....................................$3,672 331 21
in R ound a nd F la t B ars, a nd 5-ply P la te s an d A ngle
FOR SAFES, VAULTS, &C.
C annot be Sawed, C ut or D rilled, a nd positively
B urglar-Proof.
Losses paid during the same
period.......................................... $1,599,469 25
CHROM E STEEL W O R K S,
The Company has the following Assets >viz.:
United States and State of New
York Stock, City, Bank and
other Stocks.... . ............................... $8,622,565 00
I GOLD MEDAL PARIS EXPOSITION-1 8 7 8 ,
Loans secured by Stocks and
otherwise.......................................... 1,559,100 00 1 T H E MOST PERFECT OF P E N S
Real Estate and Claims due the
Company, estimated at..................
474,439 88
Premium Notes and Bills Re
ü fce a m sM p s,
ceivable....................................
1,362,986 07
Cash In Bank.............................
218,192 40
[J O S E P H C l L L O T T S !
STEEL' PENS
Amount......................................... $12,237,283 35
J . H . C H A P M A N , Secretary.
JOTTON CANVAS, FE LT IN G DUCK, n i l
COVERING, BAGGING, RAVEN S D U C K ,BAIT,
TW IN ES, AO., "ON TA RIO ” SEAMLESS
BAGS, “AW NIN G ST R IPES.
Also, A gents
U N IT E D S T A T E S B U N T I N G CO.
A fu ll supply, all W idths and Colors, alw ays In stock
N o. 109 D u a n e Street.
BRO O KLYN, N. Y .
Ci r c u l a r s F r e e .
Returns of Premiums and Ex
penses.......................................... $768 646 38
SIX PER CENT INTEREST on the outstand
ing certificates of profits will be paid to the
holders thereof, or their legal representatives,
on and after Tuesday, the 7th of February next.
THE OUTSTANDING CERTIFICATES of
the Issue of 1883 will be redeemed and paid to
the holders thereof, or their legal representa
tives, on and after Tuesday, the 7th of February
next, from which date all interest thereon will
cease. The certificates to be produced at the
time of payment and oanceled.
A DIVIDEND OF FORTY PER CENT Is
declared on the net earned premiums of the
Company, for the year ending 31st December,
1887, for which certificates will be issued on
and after Tuesday, the 1st of May next.
By order of the Board,
Brinckerhoff, Turner
& Co.,
OMLI
Mohr, Hanemann& Co.,
C OTTON
EXCHANGE
B U IL D IN G ,
New York.
S p e c ia l A t t e n t io n G iv e n t o t h e E x e c u t io n
OF ORDERS FOB FUTURE CONTRACTS.
Bl iss, F a b y a n & C o .,
New York, Boston, P hiladelp hia,
Direct Line to France.
HENERAL TRANSATLANTIC CO.
B etw een N E W Y O R K a n d H A V R E
From P ie r (new) 43, N orth River, fo o t of Me rton S i.
LA NORM ANDIE, de K ersablec, Sat., M ar.10,4 A .M .
LA GASCOGNE, Santelli........... Sat.. M ar. 17,8 A.M.
LA BOURGOGNE, F rangeul ....S a t., M ar. 24,3 P .M .
T ravelers by th is line avoid b o th tra n s it by E nglish
railw ay and th e discom forts of crossing th e C hanne
In a sm all b oat.
P rice of P a ssa g e (Including wine):—To H a v re F irst cabin, $100 and $80; second cabin, $60; s te e r
age, $23—Including wine, bedding and u tensils. R e
tu rn tic k e ts a t m uch reduced ra te s. Checks onB anque
T ran satlan tique, H avre a nd P a ris jn a m o u n t to su it.
SELLIN G A G ENTS FO B LEA D IN G BRANDS
B R O W N A B L E A C H E D S H IR T I N G S
A N D S H E E T IN G S ,
PR IN T S, DENIM S, TICKS, DUCKS, 4 «
T o w e ls , Q u ilts, W h it e G oods A H o sie ry
D rills, Sheetings, die, fo r Export Trade,
Robert Tannahill & C o.,
Cotton Commission Merchants,
Special T r a in fro m H a v r e to P a rle
Cotton E x c h a n g e B n U d ln g , N e w Y o r k .
T h e Compagnle G enerate T ran satlan tiq u e deliver!
a t its office in New York speolal tra in tic k e ts from
H avre to P aris. Baggage checked th ro u g h to Paris
w ith o u t exam ination a t H avre, provided passengers
have th e sam e delivered a t th e Company’s dock in
New York, P ie r 43 N orth R iver, fo o t o f M orton 8 t.
a t le a st tw o hours before th e d e p artu re of a.steam er
Special attention given to the purchase and sale of
FUTURE CONTRACTS
In New Vorh and Liverpool.____________
L O U IS » E B E B I A N , A gent,
No. 3 B o w li n g Green.
J o h n L. B u l l a r d .
H enr y H . Wh m l i b .
Bullard & Wheeler,
COTTON COMMISSION MERCHANTS
T R U S T E E S !
NEW. YORK.
J . D. Jones,
W. H. H. Moore,
A. A. Raven,
James Low,
Wm. Sturgis,
Benjamin H. Field,
Josiah O. Low,
Edmund W. Corlies,
Robert B. MintumJ
William Degroot,
Horace Gray,
William E. Dodge,
John Elliott,
C. A. Hand,
John D. Hewlett,
William H. Webb,!
Charles P. Burdett,
Henry E. Hawley,
Ohas. H. Marshall,
James G. De For* st,
Charles D. Levei ich.
John L.Riker,
George Bliss,
Anson W. Hard,
N. Denton Smith,
Isaac Bell,
Edward' Floyd-Jcnes,
Thomas Maitland,
Ira Bursley,
James A. Hewlett,
George H. Macy,
Lawrence Tumure.
g u M ijc a tix ro s .
H A N D -B O O K
OF
Railroad Securities.
JA N U A R Y , 1888.
W, H, H. MOORE!, Vice-President.
BAGGING.
W A R R E N , JO N ES A
Price in Red Leather C overs,« • $1 00
To Subscribers of the Chronicle,
75
«R A T Z ,
ST. L O U IS , M o.
Manufacturers ol F a re Ju te 'B a g g in g .
IM P O S T E R S O F
IR O N
JOHN D. JONES, President.
A. A, RAVEN, 2d Vloe-President.
ALSO
B A G G IN G A N D IR O N T IE S ,
(FOR BALING COTTON).
Advances made on Cotton Consignments and Special
Attention given to purchase and sale of FUTURE
CONTRACTS OF COTTON.
JO H N
COTTON
H,
T IE S .
C E IS IS Y &
C O .,
COTTON BUYERS,
W IL L IA M
B . » A N A & CO.,
102 WILLIAM 8TREE
W YORK.
M ONTGOM ERY,
purchase
ALA.
On l y o n Or d e r s f o r a Co m m is sio n .
s
JTHE CHRONICLE.
Wottau.
C x r tttftt.
f^ is jc je lla u ß c r u B .
Walter T. Hatch.
Nath’l W. T. Hatch.
Woodward & Stillman,
IN M A N , SW ANN6c Co
P ost B u ild in g, 16 &18 Exchange Place,
YORK.
COTTON
LOANS M ADE ON A C CEPTA B LE SECU RITIES.
S p e c ia l A tten t io n to Or d e r s por Contracts
for F u t u r e d e l iv e r y op Cotton .
M ERCH ANTS,
N ew Y ork.
OF SPIN N ERS,
__________Of fe r e d on T erm s to Su it .________
Henry Hentz & Co.,
Williams, Black & Co.,
COMMISSION
BANKERS AND COMMISSION MERCHANTS,
EXECUTE ORDERS FO R FU T U R E .D E L IV B R Y
NEW YORK.
C O T T O N
«!O T T O N , G R A IN ,
P R O V IS IO N S , C O F F E E ,
a t th e N EW YORK, LIV ER PO O L AND N EW OR
LEANS COTTON EXCHANGES. Also orders fo r
C O F F R E
STOCKS, P E T R O L E U M ,
a t th e N EW YORK C O FFEE EX CHANGE, and
ORDERS EXECUTED IN
a t th e N EW YORK PRODUCE EXCHANGE and
th e CHICAGO BOARD OF TR A D E.
Co r r espo n d en t s î
M essrs. Sm ith, Edw ards & Co., C otton B rokers,
Liverpool.
„
„ ,
Jas. L e a M cLean, New Orleans.
G R A IN A N D P R O V IS IO N S
NEW YORK, CHICAGO, NEW OR
LEANS, ST. LOUIS, LIVERPOOL,
HAVRE, &c.
L e h m a n , b t e r n & Co.,
New O rleans, La.
D u r r A Co.,
^Montgomery, A la.
l le h m a n ,
Hubbard, Price 6c Co.,
L E H M A N BROS.,
C
MERCHANTS
8 South W illia m St., N e w Y o r k .
STREET,
F
o t t o n
1 1 7 P e a r l St., N e w Y o r k ,
NORFOLK
M ERCHANTS,
VA.
No. 40 EXCHANGE PLA CE,
Cotton Brokers & Commission Merchants
M EM BERS OF THE COTTON, COFFEE A N D
PRODUCE EXCH ANGES.
L iberal advances m ade on C otton consignm ents.
Special a tte n tio n given to th e sale o f c o tto n to a r
riv e o r In tra n s it fo r b o th foreign and dom estic m ar
k e ts. O rders fo r F u tu re C ontracts executed in New
S o rk and Liverpool.
U p -t o w n Of f ic e . N o. 351 B r o a d w a y .
N ew
Y o rk .
Edward H . Coates 6c C o.,
Cotton Commission Merchants,
NO. 116 CHESTNUT STREET,
P H IL A D E L P H IA .
NO. 42 MAIN STREET,
NORFOLK, VA.
SPINNERS ORDERS SOLICITED.
Schroeder 6t Co.,
Successors to W A R E A SCHROEDER,
COMMISSION MERCHANTS,
Cotton Exchange B u ild in g,
NEW
Geo. H . McFadden6c Bro.
YORK.
O rders fo r fu tu re deliv ery o f C otton ex ecu ted In
New Y ork and L iverpool ; also fo r G rain a n d P ro
visions in New Y ork an d Chicago.
B. F. BABCOCK & CO.
COTTON
MEROHANTS,
P H I L & D E L P H IA .
L iverpool Correspo ndents ,
F R E D E R IC Z E R E G A
A CO.
COMMISSION MERCHANTS,
I T W a t e r Street, L I V E R P O O L ,
Receive consignments of Cotton and other Produce,
andexecute orders at the Exchanges in Liverpool.
Represented in New York at the office of
SAM’L D. BABCOCK
88 Nassau Street, NowYork.
Geo. W . Baily & Co.,
COMMISSION MERCHANTS,
COTTON E X C H A N G E B U IL D IN G ,
N ew Y o rk .
Orders for future delivery of Cotton executed in
New York and Liverpool; also for Grain and Pro
visions la New York and Chicago.
,
COTTON BR O K ER S,
$3 B E A T E R S T R E E T , N E W Y O R K .
FRANCIS M. JEN CKS.
President«
Ge o r g e H . V o se , Secretary.
Bethlehem Iron Comp’y
40 and 42 W all Street,
N ew Y o rk .
N orth British
6c Mercantile Ins. Co.
OF
U. S. Branch Statem ent Jan. 1 ,1 8 8 7 .
In v e sted and Cash F ire A sse ts.................$3,378,754 40
L IA B IL IT IE S :
R eserve fo r U nearned P rem iu m s.. . .
$1,217,584 86
R eserve fo r U npaid Losses.................
148,062 96
Net Surplus........................... 2,013,106 58
$3,378,754 40
Losses paid in U . 8. in 20 years . .817,164,089 77
U . S. B r a n c h O f f i c e , 54 W il l ia m S t ., N. Y.
SAM. P. BLAGDEN, Manager.
JAS. F. DUDLEY, Assistant Manager,
W. A, PS.AN CIS, 2d Assistant Manager.
(INCORPORATED 1835.)
Delaware Mutual
Sa fe ty I ns ur anc e Co.
Dennis Perkins 6c Co.,
N e w Y o r k Office, 75 B e a v e r Street,
J . R A Y M O N D S M I T H , A gent.
M A R IN E AND IN L A N D INSURANCE.
COMMERCIAL MUTUAL
NO. 123 PEARL ST., NEW YORK.
a t m a n
140, 142 & 146 BROADWAY
F IR E
A N D M A R IN E .
TO T A L ASSETS.
$1,719,209 29
Phénix Insurance Co#J
OF BROOKLYN,
Office, 195 Broadway, New York City.
MERCHANTS,
F
H A V E ADDED L A R G E AND IM PRO V ED SAFES
SU IT A B L E FO R BANK ERS AND BROKERS.
C A PIT A L S T O C K .................................... $360,000 00
716,060 00
O utstanding Scrip.......................................
R eserve to rein su re O utstanding R isks
262,643 20
a n d a ll o th e r L iabilities...................... .
Surplus over C apital an d Scrip................. 379,606 09
lu s ttx a ttjc je .
6c
T H E OFFICES H A V E B EE N N EW LY
F U R N ISH E D W IT H E V E R Y IM PRO V EM EN T.
COMMISSION MERCHANTS,
COTTON EXCHANGE, N EW Y O R K , and
NORFOLK, VA.
Cotton, Coffee, Grain, Provisions,
stocks and Petroleum.
Orders executed in New York, Chicago and Liv
erpool. All grades of cotton suitable to spinners’
wants offered on favorable terms.
Gwathmey 6c Bloss,
alter
O F F E R S U N E Q U A L E D S E C U R IT Y .
OF PH IL A D K PH IA .5
Special attention to orders for contractsfor future
delivery of cotton.
W
OF N E W Y O R K
Rountree 6c Co.,
COTTON BROKERS,
125 P e a r l Street, N e w Y o r k .
Orders for Spot Cotton and Futures promptly
executed.
COMMISSION
The Safe Deposit Co.
LO NDO N A N D E D I N B U R G H .
O rders ex ecu ted a t th e C otton E xchanges in New
York an d Liverpool, a n d advances m ade on C otton
a n d o th e r produce consigned to us, o r to o u r corres
po n d en ts in L iverpool: M essrs. L . R osenheim A
S o n s and A . S tern A Co.; in London, M essrs. B.
N ewgass & Co.
G.
ChurchSt„
Street,
Y.*
chape|
New N.
Haven
Price, Reid 6c Co.,
AND
C O M M ISS IO N
rrawow
o FFIC
n r nESnfagilP
B
RANCH O
jjg
M a n h a tta n B u ild in g ,
AND
a c t o r s
BANKERS,
14 NASSAU STREET, NEW YORK.
P ersonal a tte n tio n given a t th e EXCHANGES to
th e purchase a n d sale o f STOCKS and BONDS for
cash o r on m argin.
D EPOSITS R EC EIV ED —su b jec t to check a t sight
—w ith in te re s t upon balances.
Special a tte n tio n paid to IN V ESTM EN TS and
aocounts of COUNTRY BANKERS.
COTTON. ALL G RADES, SU IT A B L E TO W ANTS
1 W IL L IA M E
Henry P. Hatch.
Arthur M. Hatch.
W. T . Hatch 6c Sons,
MERCHANTS,
NEW
[March 10,1888.
-IN S U R A N C E C O M P A N Y ,
NO. 42 WALL STREET, NEW YORK.
A SSET S.
U n ite d S tates S ecurities.......... ................... $173.900
B an k S to ck s................................................... 114,295
Stocks, Bonds, Loans an d Cash in B anks 824,903
P rem iu m N otes, Cash P rem ium s, & c .... 62,338
T o tal A ssets D ec. 81. 1887....................$675,367 „
W . IR V IN G COMES, P resid e n t.
W A IN W R IG H T H A R D IE , V.-i
T his Company issues C ertificates o f Insurance,
u n d e r w hich losses a re payable in LONDON, a t th e
counting house o f M essrs. BROW N, S H IP L E Y & Co
H E N R Y D .K IN G , Sec.
CASH C A P IT A L ,......................................$1,000,000 00
ST E PHEN C R O W E L L , P resid en t.
GEORGE P . SHELDON, V ice-President.
GEORGE ING RA H AM , 2d V ice-President.
P H IL A N D E R SH A W , Secretary.
C H A R LES C. L IT T L E A ssist. Secretary.
JO H N H . DOU G HERTY , A ssist. Sec’y.
Commercial
U nion
A s s u r a n c e C o ., L i m i t e d ,
OF LONDON.
Office, Cor. Pine & WiUiam Sts., N. Y.
@FedFRASER