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Quotation -Supplement (Mono# -Street Railway «Supplement (0 ^ $
investors Supplement (<*«**# State and City Supplement ( « « 9
(Entered a ooord in g to Act o f Congress, in th e y e a r 1898, by the W illiam B. D a n a Co m pan y , In the office of the Librarian of Congress«
««■
SATURDAY, MARCH 12, 1898.
Week ending March 5.
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W I L L I A M B . » A N A C O M P A N Y , P u b lis h e r s ,
P in e S tr e e t, C o r n e r o f P e a r l S tr e e t,
P ost O f f ic e B o x 958.
NEW YORK.
CLEARIN G HOUSE RETU RN S.,
The follow ing table, made up by telegraph, etc., indicates
that the total bank olearings o f all the clearing houses
o f the United States for the week ending to-day, March
12, have been $1,314,^44,121, against 11,468,464,118 last week
and $892,460,289 the corresponding week o f last year.
Cl e a r i n g s .
Returns by lelegraph.
Week Unding March 12.
1898.
1897.
P er Oent.
New Y ork...............
P hiladelphia...........
P ittsburg.................
B altim ore................
B uffalo.....................
W ashington...........
R ochester................
Syracuse..................
S c r a n t o n ............
W ilm ington............
B ingham ton...........
T otal M iddle.......
1898.
1898.
P . Cent.
+50 6
+30 (
+47 0
+27]
+10t
+274
+28*1
+20’C
+19 5
+311
+8-0
+634
1890.
$
602 358.935
68.678.010
15.208.088
4.378.934
2,228.684
1,650.988
1,008.540
744,072
084.840
303,40«:
710,808,547
1896.
504,206,460*
6 >,627,155»
11,805,492*.
11,729,427
4,800,897
2,264,054
1,493,662*
910,565
8if+5ï S830.900
000,573,660-
B o sto n .................... .
P roviden ee..............
H a rtfo rd ..................
New H aven.............
Springfield..............
W orcester................
P ortla n d ..................
Fall R iv e r...............
L o w e ll.....................
New B ed ford..........
T otal New E n g.;.
119,588,398
6,439,900
2,855.688
l,479,|p4
1,560,245
1.481.210
1,484,909
1,191.064
719.92s
1,109.2119
136,939,655
99,595.797
4.950,500
2,811 416
1,457,739
1,304.411
1,355,511
1.501.417
882,940
5*10.370
829,773
115,321,880
+201
+10 4
+1-«
+1 5
+13«
-f 9 3
—IT
+3.VC
+27 0
+336
+187
87 901,026
4,«81.800
2,905 009
1.006.310
1,385.233
1.267,610
1,004,647
848,450
025.974
401,954
102.580,023
Chicago...................
C incinnati...............
D e tro it.....................
C leveland................
M ilwaukee..............
C olu m bus...............
Indianapolis ..........
P eoria.....................
T o le d o ......................
Grand R apids.......
82.301.125
107 242,360
11,260,85«
12+14,950
Ö,0oö,050
6,292,270
6,056,619
7,515,874
5,875.36 ■
4,670,553
3,693,80"
4,426.000
1,855,417
2,107.829
1,8 i7t4:7d
2,017 36«
2.852,314
1,677.0*1
892,273
817 357
789,704
586,789
076,92«
840,795
314,5 l2
258,540
325.000
278,000
2«7 620
Is-3,734
174,897
149,918
233,537
15.3,007
224,543
135.153
337,97.
166,692 874 122,824,950
+30 3
hl3 0
-x8T
-32-9
-25*0
-19*S
+16 8
+11 6
-28 7
+9 2
431-0
+952
+2V7
+ 16 9
+38’2
+10-7
+52-1
n 05*9
89,127.609
12.298.500
«,158.005
5,900 024
4,524,368
3.78 .200
2.002.514
2.063.00«)
1,744.087
808,250
592.633
373.951
2: 8,204
291 013
287 578
210.930
185.407
104,021
88.918,90S
12.479,600
6.323 490
4.896.222;
4,643,270 :
3,225,900- 1 065,305:»
2,526,9527
L e x in g to n .............
Kalam azoo............
A k ron ................... .
Bay C ity..................
R o ck fo rd ...............
Springfield, Ohio..
C anton.....................
Youngstown*..........
T o t. Mid. W est’r .
San F r a n c is c o ......
Salt Lake C ity......
P ortla n d ................
Los A n geles...........
T acom a..................
Seattle....................
900,646.
405 4127
202,314
212,853«
309,895
242611.
242.471
106,44®
130 625.989
120,878,292.'-
+18-8
+49 0
+ 82 5
+3 5
+139 2
+294 2
+134 8
+ 2'7'4
+157*7
+36*3
14,661,175
1.356.136
1,083.39*
1,238.455
481,153
468,982
528,272
142,146
80.907
19,989,020
14.093+38.
1 230 738
1,177.770*
1.289,034
521,205«
439,088890,618,
123,153
00,443«
19,331.790»
9,441 031
5,074.435
4,300.8-8
2.683,729
2,704,166
860,611
1,664,775
1,083.061
551,672
240.838
«15,603
467,756
75.422
106 884
30,230,400
+24*9
-f*37 2
-t*35 y
+48 8
+22 9
36’3
-fb3 6
+H1
+ 051
+30*5
+28 7
+80 6
+139-7
-1U 5
t 327
9 800,887
6,420,905
4,466 113
3,928.886
2,820.44«
2.362.094
1.600,000
1,12+472
654,487
804,105
436,286
414,056
79.V8»
89 305
34,899,371
10,050 424«
4.727.825
3,607,7053,091,018
2,959.968
26.308,294
8,667,418
6,250,813
2,001,300
2,349 104
2,450,807
2.128.030
1,913.947
1.479.907
1,230,844
967 675
593,230
935,795
411.550
408.177
402 933
256,203
262,892
508,000
59,639,782
+12*1
+ 308
+26 5
+22 9
+25-9
z -1 -8
+15*0
+01-5
+6 2
+10
-0-4
+18 0
11*2
+23 8
+40-4
+10 1
—Ö 5
+ 47 8
+26*4
+190
24,045,605
10,547.539
0.4 30.859
2,278,812
1.944.071
2.347,424
2.259.294
2,3oOt585
1.441,007
1,198.217
990.670
08 .000
706,160
'
482.244
418.839
370,485
329 887
312.439
S even cities, 5 d a y s ..........
Other oities, 5 d a y s................ .
$869,472,262
150,001,962
$624,963,443
117,927,618
+39-1
+-37*2
T otal all cities, 5 d a y s . . . .
All cities, 1 d a y ......... ............ .
$1,019.474,174
194,869,947
$742,891,061
149,569,228
+372
+30-3
W ich ita ..................
T otal a ll oities fo r w eek
$1,214,344,121
$892,460,289
+36-1
H astings.................
T o t. o th er W est
11,800.000
7,782,444
5,844 570
3,999 509
3.398 186
1.181,722
2.005.810
1,150,000
910,8Ö4
32",773
533,917
844,195
180.762
95 622
40.110,364
St. L o u is................
New Orleans.........
L ouisville..............
Galveston..............
H ou ston ...... ..........
Savannah................
R ichm ond ...............
M e m p h is ...............
A tlanta....................
N ashville..- ..........
N orfolk....................
Fort W orth...........
A ugusta.................
Birm ingham ... . . . .
K n oxville........ .
L ittle R ock .............
J ackson ville...........
Chattanooga............
M.-’ co n ......................
T o ta l Southern.
29.480.795
11.335,328
7,907.122
8,198,250
2,958.355
2,407,537
2.448,834
3,091,68«
1,672,337
1.250,350
904,445
700.00«
830. s 68
5:16,575
609 71«
413,500
239.68»
3 -3 671
612 000
71,000,653
T otal a ll............. 1,408,404,118 1,024,434.994
Outside N. York '563,718,741 '4-48,677.601
M ontreal...... .
T o ro n to................
H a lifa x.................
W innipee...... ..
H a m ilto n ..... . . . . .
S t.J o h n ...................
T otal C an a d a ....
’79p ’2*/K.
573,4 13 ’
321,872t
109,030,317/
+2b'8
+47-1
+235
+27-3
+18-4
■ +27*8
+ 13 -7
+14*4
Kansas C ity..........
M inneapolis..........
Omaha....................
St. P a u l..................
D e n v e r..................
D avenport.............
St. Joseph ............
Des M oines............
Sioux C ity.............
2Ì894Ì244 •
1.805,977
1.403Ì728 1
1 233,338
14,0*9,433
1,242,867
1,020.093
1.460,184
387,070
439,730
457.836
111,677
43,813
19.842,309
$409,427,066
67,665.530
42,952,833
11,322,109
64,396,345
21,365,550
7,834,010
S ioux F alls............
T otal P a cific....
86,895.085
17,435.514
1 849,88«
1,862 010
1.611.02ft
927.919
1,732.731
1.073,198
343,274
112903
26,849.«. 60
$602,275,722
83,537,324
54,695,245
13,406,588
82,291,953
24,300,607
8,964,773
The full details 'of olearings for the week covered by the
above statement w ill be given next Saturday. W e cannot,
o f course, furnish them to-day, bank clearings being made
up by the various clearing houses at noon on Saturday, and
henoe in the above the last twenty-four hours of the week
ha ve to be in all oases estimated, as we go to press Friday n ight.
We present below our usual detailed figures for the pre
vious week, oovering the returns for the period ending with
Saturday noon, March 5, and the results for the corres
ponding week in 1897, 1896 and 1895 are also given. Con
trasted with the preceding week, there is an increase in the
aggregate exchanges o f about two-hundred and nine million
dollars, and at New York alone the gain is ona-hundred and
one millions. In comparison with the week of 1897 the tota]
for the whole country shows an increase of 43 3 per cent.
Com pared with the week of 1896 the current returns record
a gain of 38*9 per cent, and the excess over 1895 is 57*5 {.er
oent. Outside o f New York the excess over 1897 is 26*2 per
cent. The increase over 1896 reaches 23•8 per oent, and making
com parison with U95 the gain is seen to be 31-7 per oent.
1897.
»
$
904,747,377 577.757.393
89,01 5.944
0O.8oO.K8
21.068.69!:
14,328.905
18‘394.87 C
14 473.085
4,201.299
3,790.637
2.283 177
1,752.897
2.013.715
1.571,037
1,200.294
952.325
876,947
733,811
776,218
692.7> 9
349,900
823.600
1,007,‘.65,512 076,575,007
N ew Y o r k ..................................
B oston ............ . ................. .
P hiladelph ia............................ .
B a ltim o r e ..................... ............
C hicago .....................................
St. L o n i a ........................
N ew O r le a n s ........ . . . . . . . . . .
NO. 1707.
8.157.201
13.884.952
0,292.878
9.724,181
1.242,72*
l.OoO.OOO
94 4,590
1 566 141
720.330
700 000
423,214
425-800
27,301,074 ~T7,780,943
♦ N o t included in totals.
1,923,0(6
1,05P,763
580.00(2*
307.842
572,768"
495.6021
ICO,Sol.
09,098.
30,147,191a
23,987.884
8,888+ 2“
5.083.977ft’
2,6«7,367"
2.579:51(1-»
1,802.97®2.215.6961,748,884.-1,150^67
1.041.983
977.723»
600,000
■ 6 0 ,(0 0
JLS-' '
387,152;.*
402,472
222,22+.»
69,212,167
65.285,74&J
+43*3 1.057.671,717
932.252.9SS;
+20*2
+70-2
+54*5
19 5
-r 65*9
-3 6
+0*6
+53 5
455.212,782 "428,046,54-3*.
8.309.208
0.58+284
1.125,30««
LOO’ , 155
654,873
10.035,502*
6.550.6181.183,020«
762 02«
080,387
17,622,770
18,102, liés.
490
THE CHRONICLE.
OUR N E W TABLES OF STOCK AN D BOND
PRICES.
We begin this week the publication of our weekly
tecord of stock and bond prices in a new and greatly
enlarged form, as we announced we should at the be
ginning o f the year. The tables will be found on
pages 504 to 511, both inclusive.
The compilation of Stock Exchange prices is the
most comprehensive ever attempted in any weekly
ireport. It finds its only parallel in the monthly rec
ord which we have for several years given in our
Q uotation Supplement . It includes every security,
whether stock or bonds, dealt in on the Exchange.
Both in the stocks and in the bonds we have discarded
entirely the customary distinction of “ active” and
“ inactive” and give the names all in one list, alpha
betically arranged under two heads— “ Railroads” and
^Miscellaneous.”
As to the matter contained in the tables, we have
retained in the case of the stocks the old form, since
that has been found by experience to be entirely satis
factory. The list now, however, includes all stocks,
instead of only the active ones. The table shows (1)
the fluctuations for every day in the week ; (2) the
Sales for the week in number of shares, and (3) the
range since January 1, with the cfete when the highest
and lowest points were reached.
In the case of the bonds, the form has been entirely
changed and a vast amount of information is now
given in a very compact form. The statement shows:
(1) the prices for Friday the end of the week; (2)
the highest and lowest sale prices for the week, based
on actual business done at the Exchange; (3) the
date and price of the last sale where there have been
no transactions during the week. This latter is a
feature which should be particularly useful, more
especially as the search, where necessary, has been ex
t e n d e d back fifteen months (that is to January 1 of
last year) in order to find a sale. Besides these data,
the table records (4) the number of bonds sold during
the week and (5) the range of prices (highest and
lowest) from January 1 up to and including the day of
publication.
To these very elaborate tabulations of Stock E x
change prices we have added a very extensive list of
outside securities. These are given at the foot of
-each page, and show the Friday bid and asked prices.
In this latter statement we have sought to include all
th e various classes of securities which have a market
in New Y ork but are not “ listed” or do not sell on the
•Stock Exchange. The statement embraces street rail
ways, gas, telegraph, telephone, electric-light, ferry,
industrial, manufacturing and miscellaneous securi
ties. It is our intention also to revise another week
Our report of the transactions on the Boston, Phila
delphia and Baltimore Stock Exchanges,
h; Altogether, our various tables of prices now occupy
Aine pages, where before only five pages were de
voted to them. Taken in connection with the price
records furnished in our monthly Quotation Supple
m ent (and the weekly and monthly compilations are
dimply complementary of each other, and should be
used together,) it will, we think, be admitted that we
•cover the ground fully and satisfactorily. As a matter
-of fact, nowhere else in the world can more compre
hensive tables of prices be found than are contained in
cu r Quotation Supplement and the Chbonicle
combined.
E[Vol . l a \ i .
THE F IN A N C IA L SITUATION.
The Cuban situation has continued a disturbing
feature. The report published in the papers Monday
morning that the Spanish Government had last week
intimated to our Government a desire that General
Lee, the American Consul-General at Havana, be re
called, and .that President McKinley had promptly
refused the request, and that the Spanish Govern
ment also objected to the sending of relief supplies
for the starving Cubans in American war vessels, pro
duced a decidedly uneasy feeling. As it happened,
too, the news from the Far East concerning the
movements and intentions of the European Powers in
China was somewhat disquieting. The result was that
our stock market experienced a severe break on ex
tensive selling both for American and foreign account,
prices opening off some three to four points as com
pared with those prevailing at the close on Saturday.
Before the end of the day it was announced that
Spain’s request concerning General Lee had not been
in the form of an official application, and that in view
of the attitude of our Government the request had
now been withdrawn, the incident therefore being
closed. It was also announced that the relief supplies
for the Cubans would be sent on the dispatch boat
Fern, which, though a naval vessel, was more like a
transport than a warship, and that this would be satis
factory to the Spanish Government. The stock mar
ket on these announcements and a favorable decision
by the Supreme Court in the case of the Nebraska
Maximum Freight law recovered somewhat, but it has
remained fitful and irregular since then, the tendency
yesterday being strongly downwards.
The action of Congress in placing $50,000,000 at
the disposal of the President for strengthening the
national defenses, to remain available until January 1
1899, and to be used entirely at his discretion, has also
added' somewhat to the uneasy feeling; for it seemed
to emphasize the critical state of the situation.
There is a disposition now, though, to look upon it as
in the nature of a guaranty of peace, if such an out
come is at all possible. The bill was introduced in the
House by Chairman Cannon of the Appropriations
Committee on Monday, after consultation with the
President, and was reported to the House the next
day and promptly passed after a few hours’ debate,
every one of the 311 votes recorded being cast in favor
of the bill. In the Senate it was passed on Wednes
day without any debate, 76 Senators voting in the
affirmative and none in the negative, and authorita
tive announcement being made on behalf of every
absent member that if he were present his vote
would also be cast in favor of the bill. This
unanimity of action on the part of Congress
is considered a favoring circumstance in mak
ing it clear to Spain that the President in any
step he is likely to take is certain to have the support
of the entire people— knowledge of which fact must
necessarily induce extra caution on the part of the
Spanish Government. Lastly, there is the utmost con
fidence in the wisdom and good sense of the President,
who has thus far..acted with great care and judgment,
and who is not likely to provoke war rashly or to use
the immense power lodged in his hands except in ac
cordance with the highest sense of duty.
While the decision by the U. S. Supreme Court
this week, declaring unconstitutional the Nebraska
Maximum Freight Law, is an encouraging event, it
M arch
12,
8 '8. J
THE
<-HRONICLE.
491
does not furnish a remedy for the Court's ruling of cess of the highest previously reported figures,
last year declaring the Trans-Missouri Freight Asso and the limit of the upward movement has
ciation an illegal body because in conflict with evidently not yet been reached, notwithstanding
the anti-trust law of 1890. Since this earlier that many have been skeptical for some time as to
decision
it has
been
almost impossible to whether under the existing low prices any further
hold the various traffic associations together, addition to the product could be expected. It is im
and rates have been becoming steadily more demor portant to note, however, that stocks keep steadily,
alized. The war in passenger1 rates to the Pacific even if slowly, rising. On the 1st of March the total
Coast between the Canadian Pacific and the Amer of the stocks for the furnaces reporting was 799,694
ican Trans-Continental lines, which has increased tons, against 776,284 tons February 1, 736,366 tons
in intensity the present week, is, perhaps, not January 1 and 723,885 tons December 1. Even at
attributable to that circumstance.
But the un 799,694 tons, however, the amount is equal to less
satisfactory condition of freight rates all over than four weeks' production.
The bank statement of last week reflected the forced
the country can hardly be referred to any other
cause. In this last instance matters have gone liquidation in loans which began during the previous
go far that the dissolution of the Western Freight week and also the withdrawal by interior banks of de
Traffic Bureau seems imminent.
It was an posits in that week. Loans were decreased $13,622,nounced from Chicago yesterday that the Missouri 000, making $18,658,800 for two weeks; legal tenders
Kansas & Texas had on Thursday given notice of its fell off $8,873,700, making a loss of $26,947,600 since
intention to withdraw from the association. The February 5, and deposits were reduced $23,193,900,
Milwaukee & St. Paul had previously given notice to making $32,540,200 in two weeks. These changes
the same effect, and it is reported that other roads carried the surplus reserve of the banks down to
purpose taking similar action. Chairman Midgley is $20,823,500 last week, against $35,609,450 at the end
quoted as saying that since the decision in the of January.
The low bank reserves and the fact that some of the
Trans-Missouri case he did not think the com
missioner of any railway association, himself in institutions were below their limit of 25 per cent to
cluded, had been worth his salary. The Court's liabilities induced a calling in of loans on Monday,
decision that associations designed to regulate rail and there was also more or less change in loans due to
way traffic are in restraint of trade, he observes, has the unsettled stock market arising out of the reported
deprived the associations of their greatest power for demand by Spain for the recall of General Lee.
good. It is announced that a meeting of the presi Banks generally marked up their rates to 3 per cent,
dents of the Western roads is to be held next week to subsequently maintaining that rate as the minimum,
and fairly large amounts were loaned on the Stock
consider the future of the Western Association.
The Delaware & Hudson results of operation for the Exchange at this rate until late in the afternoon,
year 1897 were published in our issue of January 29. when there was a better supply, and the rate fell to
per cent by the close. On Tuesday loans were
The pamphlet report at hand this week gives the de
made
at 2% per cent until the last hour, when
tails and also balance sheet. In this latter some
there
were
transactions at I f per cent. The bulk
changes attract notice. The company has charged off
of
the
business
was, however, at 2 to 2£ per
to profit and loss account $1,264,689, being mainly re
cent.
On
Wednesday
money loaned at 2% per cent
ductions in the items representing cost of canals, boats
and
at
2,
and
on
Thursday
at 2^ and at % of 1 per cent
and equipment. The change is in the direction of in
creased conservatism. The items on the credit side in the last half hour, after the‘demand for the day had
per
of the balance sheet would also appear to be stated very been satisfied. On Friday loans were at 2 and at
conservatively. Thus the stocks owned are put in at cent. The range for the week was from 3 to % of 1
their par value, though the market value in the case per cent, averaging about 2, and there was a better
of the Albany & Susquehanna and Rensselaer & feeling regarding the immediate future of call money
Saratoga stocks, is about double the par value. based upon the fact that imported gold was arriving,
As a result of the action of the management and that the supply from this source would probably
in charging off the amount above referred to, soon be abundant. This feeling was also reflected in
the accumulated surplus now stands at $5,128,- the time-loan branch of the market. Early in the
344, as against $6,000,870 a year ago.
Operat week rates were firmly held at 5 per cent for all dates,
ing expenses during the year were reduced $639,000 and even on Wednesday some loans were reported by
as compared with the year preceding. Of this reduc banks at 6 per cent for 6 tp 8 months. On Thursday and
tion $483,000 was owing to decrease in mining and ?on Friday the offerings were more liberal by brokers,
transportation charges, the company having mined at 4^ per cent for all dates, but the demand was
some 250,000 tons less of coal. A further decrease in small. The city banks are out of the market as
expenses was due to the saving effected by the double buyers of paper, in consequence of their low reserves,
track on the Albany & Susquehanna road. Operating and also because they are meeting the demands of
expenses were charged with 6,374 tons of steel rails. their interior correspondents. The principal pur
The balance of earnings over all charges was $2,141,- chasers are banks in near-by cities, which banks are
not subjected to the drain from the interior, and bro
420, as against $1,765,012 in 1896.
Iron production is still increasing, and another new kers report moderate sales. The supply is good, and
record has been made. According to the figures com there is a fair assortment of names. Rates are 4|@5
piled by the “ Iron A g e " the number of furnaces in per cent for sixty to ninety-day endorsed bills receiv
blast March 1 was 193, against 184 February 1, while able, 4^-@5|- for prime and 5@6 for good four to six
the production was at the rate of 234,430 tons months' single names.
The political situation in the Far East seems to be
per week, against 228,338 tons per week the
previous month.
For several successive months again strained. It was reported from Pekin on Monnow the output has been each month in ex'* : day that immediately after the issue of the Imperial
492_________________________ THE
CHR P N10LE.
decree on Thursday, sanctioning the Anglo-German
)loan, Russia demanded that China surrender all her
¿sovereign rights over Port Arthur and Talien-Wan and
i five days were granted for a reply. On the following
•«day it was reported from Berlin that China had agreed
<sfcd a lease to Russia of these two ports for ninety-nine
;years, and that Russia had determined to carry the
’.Trans-Siberian Railroad to Port Arthur. These re
ports caused much concern in London on Monday,
.though the markets were then also influenced by the
Jfall in Spanish 4 per cents. There was a recovery in
ithe tone on the following day, notwithstanding the
^partial confirmation of the reports of the Russian
llease of Port Arthur and Talien-Wan. More or less
-contradictory reports regarding the Far Eastern situa
tion were received in London from day to day, and
it was not until Thursday that the English Min
istry denied that Russia had sent an ultimatum to
'China.
It was then officially stated in the Eng
lis h
Parliament that Russia was negotiating
fo r the lease of Port Arthur and Talien-Wan
•<on the same terms and for the same period as granted
ito Germany for Kiao Chou, and that Russia was also
-negotiating for the right to extend the Trans-Siberian
-Railway. This would seem partially to confirm the
-original report, with the exception that Russia had not
demanded an immediate compliance with her demand.
Ft was announced on Thursday that a Russian Im
perial ukase had been issued ordering the disbursem ent4of 90 millions of rubles ($64,800,000) as extra
ordinary expenditures for the construction of war
.ships. It was also stated that no loan would be re
q u ire d to provide the money.
The Bank of England minimum rate of discount
remains unchanged at 3 per cent. The cable reports
■discounts of sixty to ninety day bank bills in London
3£ per cent. The open market rate at Paris is I f and
; at Berlin and Frankfort it is 2$ per cent. According
to our special cable from London the Bank of England
Host ££16,460 bullion during the week and held
£33,625,994 at the close of the week. Our corre
spondent further advises us that the loss was due to
••exports of £265,000 (£200,000 to Argentine Republic,
£550,000 to United States and £15,000 to other coun
tries), to shipments of £167,000 net to the interior of
•Great Britain and to imports of £114,000 from Aus
tra lia and £102,000 bought in the open market.
The foreign exchange market has been lower this
week, influenced by a comparatively light demand, and
-also by quite liberal offerings of investment bills and
<t>y dearer rates for money on time, which make fur
t h e r holdings of such bills unprofitable and indeed
(undesirable. It is believed by bankers in a position
rto be well informed that the amount of sixty-day
«sterling which has been carried in this market has
been very materially reduced within the past fort
night.
In some cases the bills have been reIbought bv the drawers and the loans on them can
celled . In other cases, where the bills were ap
proaching sight, they have been sent forward
fo r collection, and presumedly many of these drafts
liave been used to cover gold imports. The move
ment of gold hither from Europe has been large this
week. The amount thus far reported as engaged is
11116,585,000, of which $5,700,000 was announced in the
CSheonicle as having been secured up to the end of
last week. The engagements reported on Monday were
$4,525,000, the City National Bank securing $1,600,•4300, Heidelbach, Ickelheimer & Co. $825,000, Kuhn,
[VOL. LX'VI.
Loeb & Co., $600,000, Ladenburg, Thalmann & Co.
$500,000, L. von Hoffman & Co. $500,000 and Lazard
Freres $500,000. On Tuesday the engagements were
$2,350,000, the City National Bank procuring $650,000, Heidelbach, Ickelheimer & Co. $650,000, Ladenburg, Thalmann & Co. $300,000, the Guaranty Trust
Company $500,000 and the Union Bank of Chicago
$250,000. On Wednesday engagements were $775,000.
The City National Bank secured $300,000,
Lazard Freres $275,000 and Hallgarten & Co. $200,000.
On Thursday engagements were $1,150,000; the City
National Bank obtained $200,000, Kuhn, Loeb
& Co. $200,000, Ladenburg, Thalmann & Co. $250,000 and Seligman & Co. $500,000. Engagements on
Friday were $2,085,000-; the National City Bank
secured $85,000, Kuhn, Loeb & Co. $300,000, Ladenburg, Thalmann & Co. $500,000, L. von Hoffmann &
Co. $150,000, Lazard Freres $500,000, the Guaranty
Trust Co. $250,000, the First National Bank of Chi
cago $100,000 and the Produce Exchange National
Bank $200,000. Arrivals reported as directly con
signed during the week, including $300,000 to Müller,
Schall & Co., in transit, amount to $3,705,000. The
gold came on the Gascogne and the Kaiser Wilhelm
der Grosse.
It was consigned as follow s: Na
tional City Bank, $830,000 ; Heidelbach, Ickelheimer
& Co., $700,000; Kuhn, Loeb & Co., $375,000; Ladenburg, Thalmann & Co., $500,000; L. von Hoffman &
Co., $500,000; Müller, Schall & Co., $300,000, and
$500,000 to order. , ,
The foreign exchange market opened on Monday
with nominal rates unchanged at 4 83 for sixty day
and 4 85^- for sight. The tone was easy, but no change
was made in rates for actual business, these remaining
at 4 81-|@4 81f for long, 4 84@4 841 for short and
4 84^@4 84| for cable transfers. The tone was also
easy on the following day, and Brown Bros. & Co.,
Heidelbach, Ickelheimer & Co., Lazard Freres and
the Merchants' Bank%of Canada reduced nominal
rates, making the range 4 82£@4 83 for sixty day and
4 85@4 851 for sight. The only change in rates for
actual business was a reduction in those for long ster
ling to 4 81I@ 4 81£. On Wednesday Brown Bros, re
duced their nominal rates, making the range 4 82@
4 83 for sixty day and 4 85@4 85^ for sight. Rates
for actual business were reduced one-quarter of a cent,
to 4 81@4 81£ for long, 4 83f@ 4 84 for short and
4 84^@4 84-J for cable transfers. The market was weak.
On the following day the tone was again weak, but
the only change in rates for actual business was a re
duction of half a cent in long to 4 80^@4 80f. On
Friday the Baak of Montreal reduced nominal rates
for sixty day half a cent, making the range from
4 82 to 4 82|- for sixty-day and from 4 85 to 4 85^- for
sight. The market wras dull and heavy, though no
change was made in rates for actual business. The
following shows daily posted rates for exchange by
some of the leading drawers :
FBI.,
Mar. i .
83
{6 0 days.
Brown Bros........ {S
85«
ight...
83
(60 days.
Baring,
85«
Magoun & Co.. { Sight...
83
Bank British
{ 60 days,
No. A m erica.. i Sight... ■ 8 5 «
83
{60 days.
Bank o f
85«
M ontreal. . . . . . {S ight...
83
Canadian Bank {60 days.
85«
o f Comm erce.. {S ig h t....
63
Heidelbach, Ick {60 days.
85«
elheim er & Co. {S ig h t....
83
{6 0 days.
Lazard Freres... {S
85«
ig h t....
83
Merchants’ Bk. (6 0 days.
85«
o fC an ad a ........ 1 S ight....
MON.. T u b s ..
Mar. 7. Mar. ».
83
85«
63
85«
83
85«
83
85«
83
85«
83
85«
83
85«
83
85«
82«
85«
83
85«
83
85«
83
85«
83
86«
62«
85
S2«
85
8S«
85
F r i .,
W i t . . T h u k ..
Mar. 9. Mar. 10. Mar. 11.
8 2 « -2
85«-5
82«
85«
82«
65
83
85«
82«
65
82«
85
82«
86
82«
85
82
85
82«
85«
62
85
83
85«
82«
85
82«
85
82«
65
82«
86
92
85
82«
85«
82
85
82«
85«
82«
85
82«
85
82«
85
62«
65
THE
M arch 12, 1898. J
CHRONICLE.
The market closed easy on Friday.
Kates for
actu al business were 4 804@4 80f for long, 4 83f@
4 84 for short and 4-84±@4 84£ for cable transfers.
Prime commercial 4 80@4 80^ and documentary
4 80@4 81.
Cotton bills for payment 4 79£@4 80;
-cotton for acceptance 4 80@4 80i; grain for payment
4 81.
The following statement gives the week’s movement
ol money to and from the interior by the New York
banks.
N et Interior
Movement.
Received by Shipped by
Y, Y. Banks. X . Y. Banks.
Week Ending March 11,1898.
T o ta l gold and lega l tenders . . . .
$5,800,000
1,300,000
$3,908,000 Gain.$l,894,000
394,000 Gain.
906,000
$7,100,000
$4,300,000 Gain.$2,800,000
With the Sub-Treasury operations the result is as
follows.
Out of
Bvnks.
Week Ending March 11,1898.
Into
Banks.
Banks’ Interior movem ent,as above
8 u b -Treasury operation s...................
$7,100,000
15,300,000
N et Change in
Bank Holdings.
$4,300,000 Gain.52,800,000
800,000
14,500,000 Gain.
T otal gold and legal ten d ers....... $92,400,000 $18,800,000 Gain $3,600,000
The following table indicates the amount of bullion
’in the principal European banks this week and at the
•corresponding date last year.
March 11,1897.
March 10. 1898.
Bank of
Bold.
£
Bngland........ 33,625,994
75,678,787
France__ •
33.036.000
Germ any*...
-Anst.-Hung’y 80.900.000
9.500.000
'Spain.............
N etherlands. 2.738.000
Nat.Belgium* 2.893.000
Silver. | Total.
£
48,482.300
17.250.000
12.483.000
10.870.000
0,891,000
1,447,000
£
33,025,994
124,161,087
50.885.000
49.389.000
20.430.000
9.029.000
4.340.000
Gold.
Silver.
l o t al.
£
39,398,054
70,556,078
30.200.000
30.904.000
8.528,C00
2.633.000
2.868.000
£
£
39,398.054
125,041,530
45.758.000
43.507.000
19,178,001,
9.554.000
4.302.000
49,035,452
15.558.000
12.603.000
10.650.000
6.921.000
1.434.000
Tot.thls week 195,030,781 97,423.300 292,460,081 191,087,132 90,311,452 237,398,581
T o t . prev.w ’k 193.270.973 93,074,704 289.345.677 190,716,129 90,580.612 287,295,741
* The division (between gold and silver) given in our table of coin
-«nd bullion In the Bank of Germany and the Bank of Belgium is made
rom the best estimate we are able to obtain; in neither case is it
elaimed to be accurate, as those banks make no distinction in their
weekly returns, merely reporting the total gold and silver, but we be lleve the division we make Is a close approximation.
H ora.—We receive the foregoing results weekly by oable, and while
not all of the date given at the head of the column, they are the re
tu rn s issued nearest to that date—that is the latest reported figures.
W H Y WAR IS IM PR O BABLE.
The incidents of the present week have doubtless
•encouraged the belief among alarmists that a rupture
•with Spain has grown more probable. We question,
however, if these events have had a similar influence
<on the conservative public mind. - The almost unani.mous assertion in private discussion of the so-called
war preparations,” that they are really measures to
avert an outbreak of hostilities, is by far the most sig
nificant development of the day. The contrast of the
people’s attitude this week with their attitude during
-even the votes of Congress in the Venezuela episode of
(December 1895 is alike instructive and encouraging.
It would nevertheless be foolish and useless to deny
•that the situation is serious and that it is full enough
>df grave possibilities.
Not, we believe, since the
peaee of 1865 has Congress been called upon to make
an actual emergency appropriation for contingent pur
poses of war, and this has been done this week with
out a dissenting legislative voice.
Responding to
the President’s request— wisely communicated through
a conference with committee chairmen and not
through a public message— the House and Senate
on Monday and Wednesday last authorized by unan
imous vote the increase of the national artillery force
by two regiments, and on Tuesday voted an appropri
ation of fifty million^dollars “ for^the national] defense
493
and for each and every purpose connected therewith,
to be expended at the discretion of the President, and
to remain available until January 1 1899.” On the
other hand, the report that Spain was negotiating to
purchase three new South American war ships, nearly
completed in the English yards, appears to be con
firmed. There has, it is true, been some indication
later in the week that these efforts have been ob
structed, but the purpose of strengthening its arma
ment has, without doubt, been pursued b y , Spain.
Similarly, it is reported that our own Government
has been quietly sounding some of the smaller foreign
States with a like purpose.
All this series of moves suggests undoubtedly that
each government has in view the possibility of a seri
ous collision. We think that it means no more than
recognition of a possibility; and, to go further, we are
confident that similar preparations even by European
States would not be regarded as rendering hostilities
either probable or certain. Our readers have prob-.
ably not forgotten the repeated mobilizing ,of one or
another Continental army ten or fifteen years ago.
They will doubtless remember the sudden massing
of Great Britain’s “ flying squadron” at the open
ing of 1896. On allthese occasions, relations be
tween some of the first-rate Powers were ser
iously strained; on
none of them did any
thing
result except
the maintenance of peace
on a surer basis than before. Each of these demon
strations was in fact arranged with the double purpose
of making ready for a possible though remote emer
gency, and of showing to the world that provocation
to war would not be a safe experiment. This week’smoves by the United States and Spain have been
inspired by an exactly similar purpose and by no
other. People who imagine, because the two nations
are arming at a delicate diplomatic juncture, that
each or either is thereby showing a deliberate purpose
of undertaking war, merely betray their unfamiliarity
with recent history.
We have several reasons for believing that the pres
ent more or less strained diplomatic situation will not
result in war. One, and the most important reason,
is that neither party wishes for such an issue. W e
can recall no war, whether of modern or of ancient
times, which broke out unless one or the other of the
belligerents, or both of them, desired it. The Greek
war of 1897 was forced, it will be remembered, by the
Greek people. In the Russo-Turkish war of 1877, the
Russian Government merely found a pretext for which
it had long been seeking. The Prussian Government
not only wished for war in 1870, but deliberately pro
voked into such a declaration the all-too-ready Gov
ernment of Napoleon III. A similar story will be told
with equal clearness as we go back further into
history.
,
Nor, on the other hand, can we recall a declaration
©f war which was not partly at least inspired by a
plain and distinct purpose of gaining something.
The wars just mentioned had as their very immediate
motives the acquisition of a Crete, a Constantinople,
an Alsace-Lorraine. There have been wars for con
quest, wars for independence, wars for indemnity,,
wars for self preservation, wars for simple booty. It
will be obvious at a glance that none of these mptyres
can exist in the present dispute between the United
States and Spain. To Spain, indeed, war m ight
conceivably become a desperate measure of selfpreservation ; but this assumes such aggression and
494:
THE
CHRONICLE.
provocation on the part of the United States as would
be of itself equivalent to declaring war. Neither
nation, in short, has anything to gain by w ar; both
have a heavy stake to lose. We do not wish Cuba as
a part of our national dominion ; the most hot-headed
jingo shrinks from avowing or approving such a pur
pose. It is extremely doubtful if the majority of our
citizens wish even for Cuban independence; our hered
itary sympathy with colonial insurrection has cer
tainly been tempered by the contrast between the
well-governed and contented English colony on our
north and the alternate despotism and governmental
chaos in the independent Haytis and Nicaraguas to
the south of us. What, then, is to be gained by such
a war as has been the burden of popular discussion
for a month or more ?
If successful in the contest, we should put an end,
of course, to the Spanish undertaking to suppress the
Cuban insurrection. We should hand over the gov
ernment of Cuba to a mixed army of white adventur
ers, negroes and half-breeds, who have spent the aotive
part of their lives in guerilla warfare. We do not
describe the insurgent armies and leaders thus in
order to express contempt. We have simply pictured
them as every correspondent, even among the Cuban
sympathizers, has done. They have made a bold and
gallant fight; so did the Irish insurgents of 1848 and
the Spanish Carlists of 1874. But it is permissible
to doubt whether in Cuba, any more than in the
earlier Ireland and Spain, the cause of good govern
ment and civilization has been necessarily identi
fied with that of insurrection.
Against this
extremely questionable benefit must be placed the
wholesale loss of life and property consequent on
any war; the abandonment of this nation^ po
sition in the front rank of defenders of international
peace; the establishment of enmity between ourselves
and a fellow-nation which would probably outlast
another century; and not least of all, the possibility
that one such outbreak, with the inevitable chain oj
national alliances, tacit or expressed, might conceiva
bly bring about that fearful catastrophe which the
world has been struggling to avert— the bursting of
the European war cloud and the alignment of the
several States in a general conflict from which the
United States could no longer claim immunity. No
reader who has thoughtfully studied the history of
a century ago will accuse us of painting the picture
in too gloomy colors.
It is gratifying to turn from this dark panorama to
the actual situation as it exists to-day. The responsi
ble Ministers of both nations, even while recognizing
the possible gravity of the situation, and even while
providing for increased defensive armaments, frankly
and publicly declare that they neither wish nor expect
war. The discussion regarding Consul-General Lee,
which in a similar situation between other States
might easily have been made the pretext for a
declaration of hostilities,' is courteously smoothed
over without the least exhibition of ill will.
The very Congressional debate over the fiftymillion defense appropriation called forth almost
unanimous expression of opinion by our legislators
that their wish and purpose was not to provoke war
but to avert it. Congressional declarations now, as
always, are the reflection of opinion of constituencies,
and it is quite safe to assume that the hope and wish
for peace asserted by last Tuesday's Washington de
baters proved conclusively the sentiment of the Amer
fVOL. LXVL
ican people as a whole.
Neither Government and
neither people is likely, in the words of the unlucky
Emile Ollivier of 1870, to send its troops to war “ with
a light heart.”
Much has been said, as is usual on such occasions,
of the obstructions placed by the financial interests
in the way of irrevocable action. Such opposition
has undoubtedly existed in the United States and in
Europe, and it is our judgment that the sobering in
fluence of sentiment as expressed in such quarters has
been *of the highest value. There are those who
choose to exhibit indignation because what they call
the “ money power ” stands repeatedly in the way of
war. But the assumption that such an attitude is a
public wrong or injury seems to us the most fantastic
notion ever conceived. What would have happened
to the human race in the last two centuries, without
this constant brake on national impulsiveness and
passion, it is difficult to imagine. All that we know
is that before the instinct for the protection of prop
erty and trade obtained a firm hold in* the human
mind, war was apparently the natural condition of
the race.
But for this wholesome instinct on the side of peace,
the history of modern times, the era of high explo
sives and destructive armaments, could have been
little more than a series of wars of extermination.
To cry out, therefore, as some of our light-headed
demagogues occasionally do, against this well-known
endency of concentrated property interests, is simply
to express the wish that the brute passion for
revenge and slaughter shall have nothing to re
strain it in the march of modern civilization.
If property and investment interests have at
times opposed the declaration of a war whose cause
was just— and their influence even at such times has
undoubtedly been to oppose the final outbreak—it is
at least worthy of recollection how many imminent
wars based upon passion, hate and misrepresentation
have been prevented by the same conservative in
fluences. We scarcely think this tribute will be with
held, unless by that grotesque school of philosophers
who deliberately argue that war is a benefit in itself.
We believe that in the present instance the influence
of these conservative interests has been very great, and
we rejoice that they have been able to exert it. The
situation is all the more gratifying from the very ■
obvious fact that public opinion in the nation as
a whole has taken its stand on the side of this
conservative balance-wheel. It is equally pleasant
to observe, as seems to be indicated by such intima
tions as have come this week from diplomatic circles,
that Great Britain has thrown its powerful influence
on the side of an amicable settlement of this Cuban
quarrel. How the dispute is to be adjusted we can
only guess; but it is very safe to rest on the
principle that when both parties to a dispute are
anxious for friendly adjustment, and unwilling to re
sort to open quarrel, some means of settlement can be
found. The lesson of the Nineteenth Century, from
opening to close, is that the most unsatisfactory means
of settling an international controversy is by the gage
of war. The sacrifice of some hundred thousand lives,
of some hundred millions* worth of property, com
monly ends with the disputed question in its old posi
tion, or in a position worse than that which it occupied
before. If the world can once be convinced of the
absurdity of war, it will soon go further and mark out
war as next to impossible.
:‘
M a r c h 12, 1898 ]
THE
CHRONICLE.
495
confessedly attend the proper solution of such ques
tions, the Court cannot shrink from thè duty to deter
mine whether it be true that the Nebraska statute
No one who has followed the decisions of the invades or destroys rights secured by the supreme law
United States Supreme Court in recent years can be of the land. No one would contend, he urges, that a
surprised that the Court has failed to uphold the N e State enactment is in harmony with that law simply
braska Maximum Freight law. Indeed it is difficult because the Legislature of the State has declared such
to account for the anxiety which has been felt regard to be the case. For such a rule would make the State
ing the outcome in this case, considering that the Legislature the final judge of the validity of the enact
Court has over and oyer again laid down the rule ment. On that point the Justice says: “ The idea
that carriers are entitled to receive fair and j ust com that any legislature, State or Federal, can conclu
pensation for their services, and that a State cannot, sively determine for the people and for the courts that
acting either through its legislature or through some, what it enacts in the form of law, or what it author
other public body, enforce confiscatory or non-com izes its agents to do, is consistent with the fundamen
pensatory rates.
tal law, is in opposition to the theory of our institu
But while the present ruling announces no new tions. The duty rests upon all courts, Federal and
doctrine, it covers some points barely touched upon State, when their jurisdiction is properly invoked, to
in previous decisions, and is interesting also because see to it that no rights secured by the supreme law of
it defines so plainly and clearly how the doctrine is to the land be impaired or destroyed by legislation."
be applied. .Through the Maximum Freight Law the
Very important are the Court's observation with
Nebraska Legislature sought to compel the roads to reference to the claim made thart the State of N e
move local traffic at rates which would have involved braska could legally require local freight business to
a reduction of nearly 30 per cent from those previously be conducted even at an actual loss if the company
in force. The Union Pacific and other roads con earned on its inter-State traffic enough to give it just
tested the law, and in the United States Circuit Court
, compensation in respect of its entire line and all its
before Judge Brewer obtained a ruling against the
business, inter-State and domestic. This contention
constitutionality of the act. From this the appeal to is dismissed in these words: <e We cannot concur in
the Supreme Court was taken, where the views of this view. In our judgment, it must be held that the
Judge Brewer have now been sustained.
reasonableness or unreasonableness of rates prescribed
It is well enough to say that one of the arguments by a State for the transportation of persons and prop- i
advanced in behalf of the railroads was held to be erty wholly within its limits must be determined
without merit. It had been contended that the N e
without reference to the business of an inter-State
braska law could not be made applicable to the Union
character done by the carrier, or to the profits derived
Pacific, since the latter held a Federal charter, and
from that business.
The State cannot justify un
the act creating the corporation had reservedTo Con
reasonably low rates for domestic transportation, con
gress the right to fix the rates on this liae in certain
sidered alone, upon the ground that the carrier is
contingencies. But Justice Harlan (who delivered
earning large profits on its inter-State business, over
the opinion of the Court) took the ground that as which, so far as rates are concerned, the State has no
Congress had not availed itself of this privilege, the control. Nor can‘the carrier justify unreasonably high
States through which the Union Pacific runs can ex rates on domestic business upon the ground that only
ercise control over the subject of rates, “ Until Con
in that way can it meet losses on its inter-State busi
gress in the exercise either of the power specifically
ness. So far as rates of transportation are concerned
reserved by the 18th Section of the Act of 1862 or its domestic business should not be made to bear the
power under the general reservation made of author
losses on inter-State business, nor the latter the losses
ity to add to, alter, amend, or repeal that Act, pre
on domestic business. It is only rates for the trans
scribes rates to be charged by the railroad company, it
portation of persons and property between points
remains with the States through which the road passes
within the State which the State can prescribe, and
to fix rates for transportation beginning and ending
when it undertakes to prescribe rates not to be ex
with their respective limits "
ceeded by the carrier, it must do so with reference
But while in the absence of legislation by Congress,
exclusively to what is just and reasonable as between
the States have control, a State enactment (or regula
the carrier and the public in respect of domestic busi
tion made under the authority of a State enactment) ness."
seeding to establish such rates as will not admit of the
The Court also indicates very clearly the elements
carrier earning a just compensation is illegal and un
that may be regarded as entering into the question as
constitutional.
Such a statute would deprive the
to what are reasonable rates. “ We hold that the
carrier of its property without due process of law, and
basis of all calculations as to the reasonableness of
deny to it the equal protection of the laws, and hence
rates to be charged by a corporation maintaining a
would be repugnent to the Fourteenth Amendment to
highway under legislative sanction must be the fair
the Constitution of the United States. Furthermore,
value of the property being used by it 'for the con
while the rates for the transportation of persons and
venience of the public. And in order to ascertain that
property within the limits of a State are primarily for
value, the original cost of construction, the amount ex
the State's determination, the question whether they
pended in permanent improvements, the amount and
are so unreasonably low as to deprive the carrier of its
market value of its bonds and stock, the present
property cannot be left to the exclusive determination
as compared with the original cost of construc
o f the Legislature, but is a matter for judicial inquiry.
tion, the probable earning capacity of the prop
> The Court admits that this last question could very
erty under any rates prescribed by statute, and
likely be more easily determined by a commission
the sum required to meet operating expenses, are all
composed of persons of special skill and qualification.
matters for consideration, and to be given such weight
But, says Justice Harlan, despite the difficulties that
as may be just and right in the particular case. What
THE SUPREM E
COURT A N D
THE
N E B R A SK A M A X IM U M F R E IG H T LAW .
496
THE CHBONICLE.
the company is entitled to ask for fair return on is
the value of that which it employs for the public
convenience. On the other hand, what the public is
entitled to demand is that no more be exacted from it
for the use of a public highway than the services ren
dered by it are reasonably worth .”
Having thus laid down the principles that must
govern, the Court says that on that basis it can per
ceive no ground in the record for reversing the decree
of the Circuit Court. The evidence seemed to show quite
conclusively that as to most of the companies there
would have been under the rates established by the A ct
of 1893 an actual loss in each of the years ending June
30, 1891, 1892 and 1893, and substantially no com
pensation earned for the services rendered, with the
effect of depriving such companies of the just conpensation secured to them by the Constitution.
But circumstances and conditions are all the time
changing, and a rate which may to-day be unremunerative may a year or two hence be just and
compensatory. The^ Circuit Court in its decree had
provided that the Nebraska Board of Transportation
might, when the circumstances had changed so that
the rates complained of should yield proper compen
sation, apply to the Court for a further order in the
premises. Justice Harlan speaks with approval of their
reservation, and says it is a wise provision of which
the Board can avail itself. In such an event, he says,
if the Circuit Court finds that the present condition of
business is such as to admit of the application of the
statute to the roads without depriving them of just
compensation, it will be its duty to discharge the in
junction heretofore granted and to make whatever
order is necessary to remove any obstruction placed by
the decrees in these cases in the way of the enforce
ment o*f the statute. The meaning of this would seem
perfectly clear. There is no hard and fast rule by
which the question of the reasonableness of a rate can
be determined now and forever. Circumstances must
control, and circumstances may make a present un
reasonable rate reasonable hereafter.
7R E C A N A D IA N P A C IF IC REPORT.
The annual report of the Canadian Pacific serves to
direct attention anew to the wonderful growth and de
velopment of this great property.
Just at the mo
ment the road is receiving a good deal of notice in
the papers by reason of the war on passenger business
to the Pacific Coast which has broken out between it
and the American lines. That, however, is only •a
passing event in the affairs of the company.
The in
crease in the traffic and revenues of the system is a
more noteworthy circumstance, since it is a constant,
ever present fact, having been going on so long and
being evidently still in progress.
The expansion in net earnings the last three years
furnishes an excellent illustration of the growth re
ferred to. In 1893 and 1894, in common with the
roads in the United States, the company suffered from
the business depression prevailing, and its revenues,
both gross and net, underwent a decided contraction.
The company simultaneously passed the dividend on
its stock, and as previously the dividends had been
paid in part out of a guaranty fund lodged with the
Dominion Government, many were the predictions
that a point had now been reached where the early
collapse of the enterprise might be looked for. But
the property showed great recuperative powers. The
loss sustained during the period of adverse conditions
fVCL.
"N1,
was quickly recovered, and then earnings again began
to expand in the old way, rising to higher figures than
before. In the late year alone there was an increase
of $3,367,938 in the gross and of $2,196,194 in the net.
Comparing with 1894 we find that the net then was
$6,423,309, while now for 1897 the amount is $10,303, 776. Thus in the three years the addition has been
nearly four million dollars, or about 60 per cent. Grossduring the same interval increased about 5^ million
dollars, or from $'8,752,167 to $24,049,534.
Of course the company is all the time adding to
its mileage, but the fact that revenues are increasing
in such a decided fashion is the best evidence that the
new extensions are proving productive. The com
pany holds a unique and distinctive position in oper
ating not only a very large mileage but in controlling
a system of lines which extends from ocean to ocean—
from the northern Atlantic seaboard all the way to
the Pacific. In the United States there is no trans
continental system that can claim a line under its own
control extending from the Atlantic ocean on the
north to the Pacific. The road has had the advan
tage the last two years of an increased grain
tonnage, but study of the traffic statistics shows a
steady growth in nearly all directions. Thus, 663,77J
head of live stock were carried in 1897 against 566,219
in 1896, 562,135 in 1895 and 375,292 in 1892; and 831
million feet of lumber, against 636 million feet in 1896,
638 million in 1895 and 700 million in 1892. It will
no doubt be a surprise to hear, considering that a
good deal of the mileage of the system runs through
sparsely-settled districts, that over one-quarter the
tonnage consists of manufaçtured articles. The tota
tonnage in 1897 was 5,174,484 tons, while the tonnage
in manufactured articles was 1,310,827 tons, which
thus formed 25 per. cent of the whole. The grain
traffic amounted to 37,756,201 bushels (say roughly
a million tons), against 32,528,256 bushels in 1896,
27,628,593 bushels in 1895 and 29,309,887 bushels in
1892. The flour traffic was not quite so large as in
the year preceding, having amounted to only 2,911,072bbls., against 3,291,299 bbls.; in 1895 2,832,304 bbls.
were carried and in 1892 2,480,563 bbls.
President Van Horne, in his remarks, says that the
improvement in the traffic the late year was due in
large measure to the mining development in British
Columbia and that the mining development in the
Lake-of-the-Woods district also contributed in no small
degree. He notes furthermore that the discovery
of extraordinary deposits of gold in the Canadian
Yukon territory contributed appreciably to the gen
eral improvement. He thinks it likely that the latter
will contribute vastly more in the immediate future,
since the movement in that direction can hardly be
said to have commenced until within the past few
weeks. He shows what work was done in extending
the company^ mileage in the mining districts the past
year, and indicates the plans for further extensions in
the near future. He points out that the mining dis
tricts of Southern British Columbia are exceptionally
fortunate in possessing an abundance of coal, a bound
less supply of timber, numerous water-powers, a
healthy climate, and, close at hand, agricultural dis
tricts affording cheap and plentiful food.
Under the remarkable increase in the earnings of
the system, thé income statement makes an exceedingly good showing.
The Duluth South Shore &
Atlantic fell further behind than in the previous yearin meeting its fixed charges, so that the Canadian.
M arch
12 1898.]
497
THE OHKONICLE.
Pacific had to advance $442,065 to make good the de
ficiency, against $335,756 in 1896. Nevertheless, after
meeting all charges for the year, the company had left
a surplus of $3,861,115 on the operations of the
twelve months of 1897, against only $1,706,772 on the
operations of the twelve months of 1896. The board
has declared, as is known, 4 per cent dividends on
the common stock out of the earnings of 1897.
But these dividends, together with those on the pre
ferred shares, call for only $2,964,027, while the sur
plus available, as we have seen, was $3,861,115, leav
ing a balance of $897,088. In other words, after pro
viding for 4 per cent on the company's capital, there
is*left a surplus of nearly nine hundred thousand dol
lars. Another fact should not escape notice. The
company is able to make such a favorable showing on
very low average rates. As much of the traffic has to
be moved long distances, low rates are an absolute
necessity. At all events, though the average for 1897
was slightly better than for 1896, it was only a little
over three-quarters of a cent per ton mile—in exact
figures, 78 hundredths of a cent.
There was a very noteworthy increase in the sales of
the company's lands in 1897. Mr. Yan Horne states
that the recovery in the prices of farm products, and
especially of wheat, has given vigor to agricultural
development in the Canadian Northwest, and a much
larger increase in sales is expected the present year.
He says a great majority of the established farmers in
that part of the country realized from their crops and
cattle in 1897 more than their lands and improve
ments had cost them. This fact, it seems reasonable
to suppose, must result in a new and large movement
of settlers in that direction.
R A 'L R O A D GROSS EAR NYAGS FOR
FE BR U ARY.
year which still recorded a decrease, though small in
amount, the improvement for which 1897 stands
noteworthy not having occurred until the last half of
the year. The following furnishes a summary of the
monthly totals back to 1894.
Mileage.
Year
Given.
Burnings.
Fear
Preceding.
Year
Given.
Increase
or
Decrease.
Year
Preceding
February.
1891 (123 roads)........
1895 (131 roads)........
1898 (128 roads)........
1897 (130 roads)........
1898 (131 roads).......
Mile».
95,915
100,620
93,411
96,022
99,760
*
Miles.
S
$
32,454,502 37,108,705 Dec. 4,654,203
93,633
100,519 . 33,303,022 34,021,368 Dec. 718,346
93,050
35,257,181 31,058,010 Inc. 4,199,171
95,335
35.248,138 35,568,104 Dec. 319,966
41,189,893 38,196,674 Inc. 4,993,219
93,730
Jan. 1 to Feb. 28.
1594'123 roads)........
1895.131 roads)......
1898 (127 roads)........
1897 (130 roads).......
1898 (130 roads!
95,915
100,620
93,357
96,022
99,611
93,638
100,519
92,995
95,335
98,588
67,709,654
70,367,041
73,793,331
71,224,339
84.349.575
77,315,505
71,072,925
65,758,157
73,955.269
73.069,097
Dec. 9,605,851
Dec. 705,884
Inc. 8,045,174
Dec. 2.730,930
Inc. 11,280,473
As regards the grain movement, there was a heavy
gain in the receipts of wheat and corn, but a loss in
oats and barley. Moreover, notwithstanding the gen
eral increase, several of the primary markets (more
particularly St. Louis, Toledo and Peoria) record
decreases even in corn. In the grand aggregate of all
the cereals the receipts at all points were 45,350,572
bushels in the four weeks to February 261898, against
only 42,107,939 bushels in the corresponding four
weeks of 1897.
R B O B IP T 8 O F F L O U R A N D D R A IN F O B F O U R W E E K S E N D IN G F E B R U A R Y 2 6 .
Chicago —
4 wks. Feb., 1895
4 wks. Feb., 1897
Since Jan .l, l895
Since Jan .l, 1897
Milwaukee—
4 wks. Feb.. 1898
4 wks. Feb., 1897
Since Jan.l, 1898
Since Jan .l, 1897
i t . Louis—
4 wks. Feb., 1898
4 wks. Ceb.. 1897
Since Jan .l, 1898
Since Jan .l, 1897
r olstln—
4 wks. Feb., 1898
4 wks. Feb.. 1897
Since .Tan.l, 1898
Since Jan.l, 1897
tetroit—
4 wks. Feb., 1898
4 wks. Feb., 1897
Since Jan.l, 1898
Since Jan .l, 1897
Cleveland—
4 wks. Feb., 1898
4 wks. Feb., 1897
Since Jan.l, 1898
Since Jan.l, 1897
f*«oria—
4 wks. Feb., 1898
4 wks. Feb., 1897
Since Jan.l, 1898
Since Jan.l, 1897
Duluth—
4 wks. Feb., 1898
4 wks. Feb.. 1897
Since Jan.l, 1898
Since Jan.l, 1897
Mini/ raonlis—
4 wks. Feb., 1898
4 wks. Feb., 1897
Since Jan.l, 1898
Since Jan .l, 1897
Kansas Gitv—
4 wks. Feb . 1898
4 wks. Feb., 189?
Since Jan .l, 1898
Since Jan.3,1897
Flour.
(bbls.)
Wheat,
(bush.)
308,175
211.555
611,233
395,999
1,054,485 9,983.083 7,072,950
418.732 6.348.305 9,398,833
2,031,12« 17.838.067 14,658,045
959.903 10,862,653 15,535,746
346.190
151.600
667.090
409,250
728,000
399.750
1.273.945
816,147
103.605
89,465
191.620
181,760
337.179
230,493
759.267
564,745
2,809,530
819,745
3,696.955 1.254.0C0
5,799,900 1.699,255
5,641,637 1,974,455
2.768
8.549
6,794
7,376
355.321
120,884
814.675
288,175
1,111,640
1,951,816
2,407,507
2,921,357
Com,
(bush.)
Oats,
(bush.)
Bariey,
(bush.)
Bye.
(bush.)
J.127,468
2,090,520
2.614,434
3,368,047
182.100
123,891
421,950
311,584
699,200
464,760
783,000
• 72,800
720,800
809,000
1,071,850 1.836,000 1,641,110
120,900 1,180,000 1,660,315
156,000
110.400
314,720
313,390
198,035
291.750
885.535
493.500
131,713
20,300
188,713
42,000
138,475
50.300
494,031
73,434
13,931
5.261
27,147
22,426
Railroad gross earnings for February make the same
favorable comparisons as for the months preceding.
254,565
283.421
27,625
194,352
35,025
191,875
8,800
115.721
72,678
74,611
68,883
406J 80
349,800
332.1*2
46.275
417,158
108,084
Indeed, the returns are so uniformly of one character
205,463
15,050
219,769
150,634
135,790
now, and the record of improvement week by week
24,584
219.64S 1,362,926
555,145
3.623
67.654
21,275
'4,096
79,478
and month by month is being so regularly maintained,
392,397 2,105,477
58.998
958,260
150,931
60,508
6,919
157,472
4,096
that it only remains to register the results and report
1.762,300
32,900
31,200
840
6)0
194,300
7,200
the amount of increase. We have collected the re
23,100
62,400 2,591,400 1,168,600
130,900
10,200
61,700 2.979.950 1.421,650
72,600
395.600
17.i00
turns of 131 roads for February ; of these only 20 have
45,950
148.800 1,185,100 1,928,100
289,400
25,200
fallen behind ; the other 111 all show increases, the
728,346
991,367
503,895
54,738
88,666
1.271.741
472.183
24.077
530,707
182,280
most of them for quite considerable amounts. In the
2,270.330
952.245 1,294.991
101,658
219,139
2,197,177
28,281 1,295,333
782,218
331,501
aggregate of the whole 131 roads the gain reaches
21.099 4,800,310
37O.H0
762,430
(1,489 3,307.390
almost five million dollars— $4,993,219.
128,370
969.940
42,630
9,880
39,983 10,268,160
733,510 1,882,020
21,215 6,229,410
383,620 2,242,270
42,630
9,880
Considering that business continued large and ac
1,327,000 1,407,500
270.000
tive— the exciting occurrences which marked the
271.500 2,030,500
334,000
2,087,' 00 2,757,000
539,000
month not having served to diminish the volume of
514,000 2,940,650
561,50 i
trade to any great extent; that the grain movement
Total of all—
Feb., 1898
866,944 10,099,075 20,058.155 12.110 616 2.468.091
614,635
in the West and the cotton movement in the South 44 wks.
wks. Feb., 1897
503.164 6,266.265 16.938.176 14,605,272 3,836,014
412,212
Sinoe Jan .l, 1898 1.597,493 20,184,683 36,962,684 25.133,082 5,470,499 1,294,768
were both very much heavier than a year ago, that Since Jan.l. 189 1.083.54" 12.073.81 ( 26 864,4’ 3 25,096,974 6,776,026 1.055,981
there was also a gain in the live-stock movement in
At Chicago, for the even month the receipts were
the West, it is not surprising that earnings should .¿be 19,914,883 bushels, against only 18,379,731 bushels
on a steadily expanding scale. The weather, also, in 1897, 15,406,764 bushels in 1896 and but 8,171,002
was a favoring element.
There was some slight bushels in 1895.
B E fiB IP T B A T C H IC A G O IH IlilM I) F E B R U A R Y A N D SIN C E J A N U A R Y 1 .
interruption to traffic in certain sections the
February.
Mnce January 1.
early part of the month from a snowstorm which
1898
1897.
1897.
1880.
1896.
1848.
passed over the country at the close of January,
Wheat.bush. 1,093,265
983,169 2,073,572
418,732 1,196,042 2,100,109
but the effects of this quickly disappeared. Last year dorn. ..bush. 10,314,546 6,348,305 5,285,674 18,376,330 10,558.573 <13,723,253
in February the weather was also mild, hut floods in Jats., bush. 7,174 850 9,398,283 7,163,443 15,067,445 ¡15,910,485 14,926,330
a.ye.. .bush.
432,000
319,264
135,045
190,650
239,725
123,831
Cincinnati and throughout the Ohio Valley proved Barley.bush. 1,111,572 2,090,520 1,626,560 2,691,081 3,424,057 , 2,967,809
somewhat disturbing— causing a considerable loss of Total grain 19,914,883 18,379,731 15,406,764 38,657,568 31,195,548 33,930,189
200,189
Flour., bbls.
032,8?O
399,881
320,841
211,558
422,366
traffic to a number of roads running through or con Pork....bbls.
425
607
150
1
1C7
047
tiguous to the afflicted districts. It should also be Outm’ts.lbs. 18,070,018 11,007,937 12,034,66» 37,419,815 23,234,292 29,005,449
bard...... lbs.
4,756,082 4„566,846 6,044,947 11,364,452 11,078,631 13,836,648
remembered that we are comparing wiih figures last Live hogsNo
709,538
561,827 1,447,901 1,473,442 1,269,519
690,656
498
THE CHRONICLE
[ V oil.
L X V I.
The deliveries of live hogs were only 690,656 head,
By far the most pronounced improvement is found"
against 709^538 head in 1897, but the deliveries of in the case of the trans-Continental roads on the north
all kinds of live stock were 22,170 carloads in 1898, — we mean the'Northern Pacific and the Canadian
against 21,605 carloads in 1897.
Pacific.
E A R N IN G S O F P A C I F IC R O A D S .
As regards the cotton movement, the receipts at the
Southern ports were 667,534 bales the present year,
February.
1898
1897.
1896
1895.
1894.
1893.
against 376,348 bales last year and 417,761 bales in
$
2
$
2
2
$
n Pacific. 1,488,005 1,272,094 1,325,256
992,032 1,154,252 1,260,328
1896, while the shipments overland were 191,316 bales, Cañad
North’n Pacific. 1.484,752 1,014,785 1,155.031
938,600
915,647 1,182,911
131,83?
130,731
147,921
against 115,511 bales and 91,928 bales respectively in Rio Gr. W est’n.. 200,800 155,300 151,011
T o t a l....
8,1-79.562 2.442.179 2.631.298 2,065 475 2,200,630 2,591,155
1897 and 1896.
R E C E IP T S O P C O T TO N A T S O U T H E R N P O R T S IN F E B R U A R T , A N D F R O M
Southern roads are distinguished in the same way
J A N U A R Y 1 T O M A R C H 1 , IN 1 8 9 8 , 1 8 9 7 , A N D 1 8 9 6 .
as the others, and there are only two minor roads that
February.
Since January 1.
has fallen behind last year’s total, while several
1898.
1897.
1896.
1896.
1898.
1897.
report for 1898 the Jbest February earnings on record.
Galveston............... bales.
Texas City, &c.............
New Orleans...................
Mobile.............................
Florida.............................
Savannah.............. i........
Brunswick, &c.............
Charleston......................
Port Royal, &c.............
Wilmington...................
Washington, &c..........
Norfolk............................
West Point, &c.-..............
138,318
13.825
¡370,797
28,432
13,533
86,638
35,503
24,488
10,795
12,052
117
30.956
2,030
80,675
64,525
15,645 ■ 15,736
136,040 159,955
17,512
16,911
7,464
2,396
50,492
64,356
0,651
14,114
27,845
23,574
60
10,952
0,752
7,916
44
24
25,691
26,408
1,477
4,894
Total......... ...............
667.534
870.348
365.202
23,984
723,691
89.68"
38,147
190,343
74,489
66,334
12,088
29,178
263
79,481
4,720
195,643
26,252
350,995
55,746
24.150
128,323
16,679
53,721
5,614
24,036
1375,121
3,141
148,388
34,119
340,003
47,607
5,569
124,450
20,850
47,156
20,768
2f\800
101
80,613
15,910
417,761 1,697.927
959.579
911,852
The increases in earnings are pretty well distributed
through the list, the Northern Pacific leading with a
gain of $469,967. The decreases, we have already
stated, number only 20, and of these but one, namely
the Missouri Kansas & Texas, amounts to over thirty
thousand dollars.
G R O SS
ln c r e a s e s .
Northern Pacific............ $469,967
413,527
Illinois Central..............
Chic. Rock Isl. & Pac...
285,983
Chic. Mil. & St. P au l. . .
274,920
Mo. Pacific.......................
271,000
Great Northern System
252,578
Oregon RR. & Navig’n.
244,472
Canadian Pacific...........
215,906
Louisv. & Nashv............
163,438
Grand Trunk System...
152,207
K. C. Pittsb. & Gulf . . .
148,790
133,143
Southern Railway.........
Chesapeake & Ohio.......
130,133
N. Y. Central................ ' 127,841
Denver & Rio Grande..
122,300
Norfolk & Western.......
113,158
St. Louis & San Fran...
107,899
Texas & Pacific..............
98,001
St. Louis Southwestern:
95,011
P R IN C IP A L C H A N G E S IN
FEBRUARY.
In crea ses.
Wabash............................
$89,953
Clev. Cin. Chic. & St. L.
76,923
Balt. & Ohio So’ w est...
60,871
Cin. N. O. & Tex. P ae.. .
57,715
Rio Grande Western* ..
51,500
Union Pac. Den. & G...
57,187
Interoeeanio (M ex,)*...
37,740
Mexican Railway?.. . . .
37,000
Ann Aroor................................35,466
34.000
Choc. Okla.
Gulf.......
Elgin Joliet & Eastern.
33,461
Wisconsin C entral.......
31,104
Kan. City Mem. & B___
30,718
E A R N IN G S IN
Total (representing
36 roads).............. $1,453,915
D ecreases.
Mo. Kansas & Texas. ..
$31,233
Northwestern roads, on account of the large grain
traffic, have done remarkably well, the increases being
large as a rule; in this group there is only one road
with a decrease, to wit, the Bur.Oedar Rap. & Northern.
E A R N IN G S O F N O R T H W E S T E R N L IN E S
February.
1898.
1897.
1896.
1895.
1894.
2
308,361
408,137
2
310,301
392,403
2
351,238
390,357
2
278,238
247,203
2
293,924
290,100
1893
2
BurLCed.R.& No.
295,622
Ohio. Gt. W e s t....
317,547
Ohie.Mil.&St.P. ^ 2,394,659 2.119,739 2,305,680
1,927,622 2,106,783 \ 2,161,448
Milwau.&No.. 5
1 115,467
Ohio. R . I. & Pac. 1,330,820 1,070,837 1,117,550 1,010,525 1,234,787
1,334,765
108,463
95.193 , 145,120
Duluth S.S.& A tl.
130,847
94,432
123,903
Great Northern.. 1,274,303 1,021,727 1,146,818
889,578
ÖC0,640
837,82J
147,744
Iow a Central......
128,796
167.331
121,876
151,052
140,503
Minn.& St. Louis.
135,170
142,782
148,370
112.229
125,223
126,375
101,410
87,278
B t.Paul & Duluth
88,083
91,021
84,802
112,573
E A R N IN G S O F S O U T H E R N G R O U P .
February.
1898.
1890.
1897.
1895.
1894.
1893.
2
2
2
2
2
127,415
100,429
108,011
109,000
148,123
775,708
781,009
640,948
666,877
760,822
261,511
266,655
239,847
280,000
319,837
152,060
150.055
89,056
124,979
139,539
a9S,600
99,932
72,705
83,401
101,955
1,570,827 1,816,571 1,364,940 1,481,127 1,817,568
100,8t 2
113,966
70,472
95,953
135,938
289,511
331,528
231,003
256,737
274,396
420,932
419,338
340,832
357,611
402,801
*707,733
897,904
689,845
653,489
765,418
1,570,922 1,494,918 1,256,458 1,449,293 1,695,613
2
Alabama Gt. S o ..
139,940
Ches. & Ohio.......
905,841
Cin.N.O. & T ex.P
319,229
168,555
Georgia................
Kan.C.Mem.&Bir. «129,318
Louisv, & Nashv. 1,731,265
Memphis & Char.. *123,609
347,600
Mobile & O h io...
Nash.Chat.& St.L. +420,982
Norfolk & West.b
825,896
South’n Railway. 1,704,065
T o t a l............. . 0,796,300 6,124.090 0,236,785 5,116,117 5,650,867 6,468,000
a Figures here fo r 1398 and 1897 are simply the totals o f the earnings fo r th e
four weeks o f the m onth as reported in the weekly re tu rn s; the m on th ’ s
earnings usually exceed the weekly estimates quite considerably.
b Including Scioto Valley & New England and Shenandoah V alley fo r a ll th e years.
t Figures are approxim ate, same as fo r 1898: actual earnings were larger.
+ M onth o f February n ot yet rep orted ; taken same as last year.
* Fourth week not reported; taken same a3 last year.
The trunk lines have not failed to share in the general improvement, though it is noteworthy that the
New York Central has rather a moderate increase—
$127,844, or less than 4 percen t.
E A R N IN G S O F T R U N K L IN E S .
February.
1898.
1897.
1890.
1895;
1894.
2
2
2
2
2
B. & O. S.W Ì 523,138
Oh. & Miss.
1,002,383
C.C.C.&St.L
Peo.&East.
157,008
G .T .of Can. i
Ch.& G .T„. j- 1,674,453
D.G.H&M. J
3,429.304
N.Y.C.&H.+
952,811
W abash....
T otal......
481,427
485,011
970,748
139,490
C1,178,433
1,522,246 \ 247,349
¡
i 0,749
3,301,460 3,206,641
920,270
862,858
970,931
127,721
1,099,457
182,050
60,497
2,960,689
814,529
2
495,237 < 201,346
< 363,95»
961,89»
870,893
114,613
118,510
1,176,831
1,278,743
193,207
244.337
60,053
73,023
3,003,991
3,285,052
832,485 1,019,840
7,211,107
0,736,880
6.794,440
402,26?
985,460
137,249
7,799.097
1893.
7,271,540
7,530,715
t Includes R om e W atertow n & Ogdensburtg fo r all th e years.
The Middle and Middle Western group (apart from
the trunk lines) contains a larger number of roads with'
bosses than any other group. And yet in the aggre
gate the showing here is quite satisfactory, the samer
as in the other groups.
E A R N IN G S O F M ID D L E A N D M ID D L E W E S T E R N R O A D S .
February.
1898.
2
1897.
1896.
1895.
1894.
1893.
2
2
2
2
2
90,234
88,005
81,433
69,303
88,633
235,731
218,202
209,391
181,734
232,949
322,826
286,81»
313,140
284,710
345,55»
202,777
219.9P1
174,908
201,667
225,912:
al08,426
121,369
110,648
110.027
125,988
157,744
209,735
171,19»
181,298
248,688a81,5C9
7r,l9(
80,957
80,796
85,880
95,297
102,168
80,551
84,741
72,970
77,026
81,179
90,293
75,416
95,06»
214,700
222,899
103,000
208,812
203,120
186,047
201,920
173,016
194,9(8
192,144
1,764,240 1,755,278 1,523,910 1,510,631 1,579,747
208,617
201,811
237,047
201,512
289,204
179,041
191,330 ' 182,095
199,752
280,984
104,543
109,543
101,16»
110,043
142,832
258,234
232,905
228,602
223,802
241,790
170,212
164,603
162,599
128,458
162,162
114,682
138,493
104,085
127,958
167,720
75,040
82,683
72,209
68,108
73,423
167,477
143,882
111.262
87,924
114,84
196,235
191,721
208,700
195,839
250,11
68,487
83,044
111,119
109,791
85,217
Ann A rbor.............
125,700
Buff. R och . & Pitt.
249,042
Ohioago & East. 111.
330,287
Chic.Ind.& Louisv.
215,397
Ohio.
&
W
est
Mich.
a
l 19,324
T otal ............. 0,242,071 5.961,419 5,868,494 4,800,155 5,218.983 5.053.841
Col. H . V . & T o l...
163,939
In the Southwest the gains are also large, the cotton Det.G.Rap.&West. a90,958
Jol. & East..
128,758
movement and the grain movement having combined Elgin
Bvansv.& Terre H.
89,804
Flint
&
P
.
M
arq....
to add to the revenues of the roads. The Missour214,297
G r.R ap .& lnd........
187,971
Kansas & Texas and two minor roads form exceptions. Illinois Central*... 2,177,767
E A R N IN G S O F S O U T H W E S T E R N G R O U P .
271,571
Lake Erie & W est.
Long Island...........
194,624
Lou.Evans.&
St.L.
120,394
1897.
1896
1898.
1895.
1894.
February.
1893.
*wN. V . Ont. & West.
252,355
2
2
2
2
2
2
Plttsb’g & W est’n.
177,408
427,400
549,700
514,483
493,152
482,146
Den.& R io Gr.
670,278 Tol. & Ohio C e n t..
106,738
280,026
240,559
259,088
214,012
288,739
334,490
Int.& Gt. N o..
77,114
Tol. Peo. & W e s t ..
381,110
331,908
380,464
338,059
359,492
487,390
K.C.F.8.& M..
143,38?
Tol. St. L. & K. C..
631,670
916,094
797,157
877,712
846,479
641,335 W est. N .T . & P a ..
Mo, K . & Tex.
198,800
M o.P.&Ir.M t. 2,128,000 1,853,000 1,792,252 1,603,683 1,669,367 2,115.552 W heel. & L . E rie ..
95.505
75,320
47,624
42,312
107,973
108,318
90.088
St. Jos.&G.I..
5.731.140 5,139,105 5,225,232) 4,730,379 4,649,907 5,285,418
T otal.......
437,675
483,470
413,404
St.Lou.&S.Fr.
556,859
448,960
392,613
338,180
419,11»
421,809
461,600
366,689
St.L. Bouthw.
t Includes the operations o f the St. Louis A lton & T erre H aute fo r all
489,628
462,393
520,748
576,627 the years but the Chesapeake Ohio & Southwestern, Chicago & T exas an
630,827
532,826
T exas & Pac.
Ohio Valley fo r 1898 only.
215,070
206,03?
350,769
206,767
292,572
285,385
U .P ac.D .& G .
a Figures uere fo r 1893 and 189? are simply the totals o f the earnings fo r tb e
four weeks o f the m onth as reported in the weekly retu rn s; th e m onth’s»
6.217,241 5,487.124 5.546.104 5.016,509 4,906,948
T o t U............
earnings usually exceed the weekly estim ates quite considerably.
THE
M arch 12, 1898,1
499
CHRONICLE
<frost naming».
GROSS EARNINGS A N D M ILEAG E IN FEBRUARY.
Oro»» B arningg.
Jfameof Road.
Mileage
Increase or
Decrease.
1898
1897
31(
310
1898.
1897.
$
139,94<)
$
127,41i
9
+12.52E
107,141
114,465
49,38!
59,661
i
49,401
61,431
90,234
Ann Arbor.
125,701 i
18,825
o.
23,62
37.07S
40,911
462.261
523,13i
1.73S
ic
2,325
235,73:
249,045
310,301
308,36
.. 1.488.00C 1,272,09«
474,97S
493,13:
775,708
905,84
322,826
3.
330,285
392,406
l.
408,135
202,777
215,39'
1. 2,394,651 2,119,73P
.. 1,356,821 1,070,837
77,46«
89,18*
108,42C
11$,324
83.00C
117.00C
3,709
3,90S
261,51«
319,22S
46.61C
46,177
935,460
.. 1,062,382
137,249
157,008
82,032
l.
107,735
117.785
123,885
157,74«
1
163,935
48,60(
30,335
Colusa <fc Lake.
1.40C
1,70C
427,400
549,70(
34,001
1
38,70(
8,62:
,.
10,02<
Det. Gr. Rap. & West.
81,50£
90.95»
13,576
32,727
95,195
108,455
95,297
128,758
18.94C
>.
22.61S
89,804
77,02 a
214,700
214,297
35,742
20,136
682
581
Georgia
152,060
153,555
84,862
101,845
143,702
144,115
30,851
29,852
2,627
3,595
10,378
8,898
Gr. Trunk of Can... '
<Ohio. <ft Gr. Tr’k .. • 1.674,453 1,522,246
Det. Gr.Hav.& M ..
-Gt. No.—S. P. M. & M 1,023,877
796,459
Eastern of Minn..
90,218
77,178
Montana Central.,
160,210
148,090
-Gulf Beaum’t & K. C
11,181
7,911
5,35f
4,181
3,114
3,923
. 2,177.767 1,764,240
Internat’l & Gt. No. j
288,739
286,026
Interoceanic (Mex.).’
194,100
156,360
Iowa Central..
147,744
128,796
Iron...................
4,150
3,312
Kanawha & M ich___
37,552
30,071
359.492
331,908
Kan. C. Mem. & Bir.
129,318
98,600
K an.City&N . W ....
34,405
31,895
Kan. City & Omaha.
25,410
29,757
Kan.C.Pittsb. & Gulf
249,51)
100,721
Kan. City 8ub. Belt
36,335
28.769
Keokuk dc Western*..
23,641
22,464
Lake Erie & Western
271,571
268.617
Lehigh & Hud. River.
31,052
2 9,5 47
Long Island RR___
194,624
179,041
Los Angeles Term’l
6,127
5,628
120,394
104,543
36,057
33,171
1,731,265 1,567,827
5,857
6,277
Manistiaue.. . . .
8,560
13,396
Memp. & Charlest’n'
87,930
65,123
Mexican Central...., 1,029,663 1,006,043
Mexican National..
463,455
435,469
Mexican Railway*...
257,500
220,500
Mexican Southern*..
37,445
42,905
Minn. & St. Louis___
142,782
135,170
Minn. St.P.&S.8te.M.
.244,085
232,872
Mo. Kans. & Tex.sys.
846,47i
877,712
Mo. Pao. & Iron Mt.. 2.021.00C 1,763,000
Central Branch___
102.000
89,000
25,381
17,162
Mobile & Ohio............
347,600
331,528
N.Y .Cen. & Hud. R iv.. 3,429,304 3,301,460
N. Y . Ont. & W est.. . .
252,355
258,234
•Norfolk & Western...
820,896
707,738
Northern Pacific....... 1,481,752 1,014,785
Ohio River...................
60.822
56,486
Ohio River.& Char...
18,666
16,953
Ohio River & L. Erie.
2,300
2,085
Ohio Southern............
55,923
56,l3o
Omaha Kan. C. & E..
62,695
45,790
Oregon RR. & N a v ...
500,032
255,560
Peo. Deo. & Evansv..
71,145.
78,405
Pittsb. Bess. & L. E .
44,855
35,830
Pittsb. Lisb. & West.
3,564
3.781
Pittsb. & Western___
101,042
98,599
Pittsb. Clev. & Tol.
61,623
53,722
Pittsb. Pa. & Fair..
14.743
17,891
'Rio Grande South’n.
30,018
22,564
Rio Grande Western.
206,800
155,300
■St. Jos. & Gr. Island..
107,973
108,318
St. Louis & San F r ...
556,859
448,960
St. Louis Southwes’n .
461.600
366,589
St. Paul<&D u lu th ....
101,410
87,278
Ban Fran. & No.Pac..
52,331
42,858
-Santa Fe Pres.& Phx.
60,100
47,396
Bher. 8hrev.& South..
24,551
23,272
So. Haven & Eastern
1 533
1,641
Southern Railway___ 1,704,065 1,570,922
Texas Central*..........
18,463
12,908
Texas & P a c ific ......
630,827
532,8261
+ 7,32
+10,27«
+12.03C
+35,46£
+4.80C
+3.84C
+60,871
+58i
+13,311
— 1,940
+215,906
+18,152
+ 1 3 0 ,13i
+7,461
+ 15,731
+12,620
+274,920
+ 2 8 5 ,98i
+ 11,72«
+10,89*
+34,00(
+19«
+57,715
+43£
+76.92S
+19,759
+25,701
+6,104
+6,195
—18.26S
+30C
+122,300
+ 4,69£
+1,392
+9,44S
+ 19,151
+13,258
+33,461
+3,679
+12,778
—403
+15,606
—101
+1,495
+16,983
+ 41 3
+ 99 9
—968
+ 1,480
a.
Ala. & Vicksb.
19Î
14«
18i '
295
23:
27*
92:
25
33£
1.13É
6.56*
1,52«
1.36C
64*
93C
537
6,15i
3,571
76
581
220
42
336
210
1,838
352
192
35(
346
27i
22
1,66(
150
112
33«
102
58*
197
156
167
648
146
11
307
458
436
92
26
37
195
142
189
292
231
278
921
22
340
1.136
6.476
1,524
1,360
648
930
537
6,153
3,571
76
581
220
42
336
210
1,838
352
192
350
346
273
22
1,666
150
112
334
102
588
197
156
167
648
146
11
307
450
436
92
26
37
+152,207
4,036
4,036
+227,418
+ 13,040
+12,120
+3,270
+3,178
—809
+ 4 1 3 ,5«7
+2,713
+ 37,740
+18,948
+ 83 8
+7,481
+27,584
+30,718
+2,510
—4,347
+148,790
+7,566
+1.177
+2,954
+1,505
+ 15,583
+ 499
+ 15,851
+ 2,88 6
+ 163,438
— 420
—4,836
+22,807
+23,620
+27,986
+37,000
—5,460
+7,612
+11,213
—31,233
+258,000
+ 13 ,0 00
+8,219
+ 16,072
+127,844
—5,879
+113,153
+ 469,967
+ 4,336
+ 1,713
+ 215
—207
+ 16,905
+244,472
—7,260
+9,025
-2 1 7
+2,443
+7,901
—3,148
+7,454
+51,500
—345
+107,899
+95,011
+14,132
+9,473
+12,704
+1,279
—108
+ 133,143
+5,555
+98,001
3,780
72
256
65
62
25
3,808
775
531
509
20
172
975
276
174
194
814
35
148
725
90
375
• 50
372
166
2,985
97
44
330
1,956
1,219
321
227
370
1.189
2,197
4,938
388
149
687
2,395
481
1,570
4,346
224
222
36
266
314
1,065
331
183
25
227
77
61
180
550
251
1,162
1,223
244
165
198
153
37
4,827
176
1.499
3,720
72
256
65
62
25
3,130
775
531
509
20
172
975
276
153
194
603
35
148
725
90
375
50
372
166
2,975
97
44
330
1,861
1,219
321
227
370
1,189
2,197
4,938
388
149
687
2,395
481
1,570
4,368
224
211
36
266
280
1,065
331
183
25
227
77
61
180
550
251
1,328
1,223
248
165
198
153
37
4,824
176
1.499
.
N tm e o f Roaa.
Tex. Sab. Val. & N’w.
Tol. & Ohio Central..
Tol. Peoria & West’n.
Tol. St. L. & K. Citv .
Un.Pao. Den. & Gulf.
Wabash........................
West. N. Y. & Penn..
Wheel. & Lake E rie..
Wisoonsln Central...
1898.
1897.
4,009
108,738
77,114
143,387
292,572
952,813
198,800
95t505
341,457
*2,961
114,662
75,040
167,477
235,385
862,858
196,235
68,487
310,353
Mileage.
Increase or
D ecrease. 1898.
+1,018
—7,924
+2,074
—24,090
+57.187
+89,953
+2,565
+ 27,018
+ 31,104
38
371
248
451
974
1,936
651
247
937
1897.
38
371
248
451
974
1,936
651
247
937
Total (131 roads)... 41,189.893 36,196,674 +4,993.219 99,760 98,730
* For three weeks only.
t Includes Chesapeake Ohio & Southwestern, Ohio Valley and Chi
cago & Texas for 1898 only.
1 Earnings of Galv. Hons. & Henderson are excluded for both 1893
and 1897.
GROSS EARNINGS FROM JANUARY 1 TO FEBRUARY 28.
Nam e o f Road.
1898.
9
305.22C
N. O. & Norttaeast’n.
Ann Arbor.....................
Atl. Kooxv. & N o r ....
Atlantic A D anville....
Balt. & O. Southwest..
0
'.
Burl. Ced. Rap. & N o..
Oanadiau Pacific.. .
.
Central of Georgia.
Chesapeake & Ohio___
Ohio. & East’n Illinois.
Ohio. Great Western...
Chio. Ind. & Louisv.
Ohio. Milw. & St. Paul. .
Chic. Rook Isl. & Pao.. .
Chio. & West Michigan
Choc. Okla. G Gulf
a
Oin. N.O. & Texas Pao.
Cleveland Canton & So.
Olev. Oin. Chio. & St. L. .
Peoria & E astern ....
Colorado Midland____
Col. Hook. Val. & Tol..
Col. 8an’ky& Hooking'
Colusa & Lake............ .
Des Moines & Kan.City1
Det. Gr. Rap. ® W est..
Flint & Pere Marauette.
Ft. Worth & Rio Gr’de.
Gadsden & Atalia U n ..
Georgia..................... .
Traverse City...... .
Mus. Gr. R. & Ind,
Grand Trunk......... .
Chio. & Gr. Trunk
Det. Gr. H. «Ce Milw,
1
Eastern of Minnesota
Montana Central........
Gulf Beaumont & K. C.
Gulf dc Chicago ..........
Hoosac Tun. & W ilm ...
Illinois Central.!..
Int. <ScGreat Northern..
Interooeanio (Mex,
Iowa Central..........
Iron Railway..........
Kanawha & Michigan..
Kansas C. Ft. S.&Mem.
Kan. City Mem. <fc R ir..
Kansas City & N. W .......
Kansas City dc Omaha..
Kan. City Pitts. & Gulf.
Kansas City Sub. Belt..
Keokuk & Western.......
Lake Erie & Western...
Lehigh <fe Hudson River
Long Island R R .............
Los Angeles Term.........
Louisv. Evansv. dcSt.L..
Louisv. Hend. & St. L ..
Louisville & Nashville..
Macon & Birmingham..
Manistiaue....... ..............
Memphis & Charleston’
Mexican Central............
Mexican National....... ..
Mexican Railway*.........
Mexican Southern*___ _
Minneapolis & St. Louis
Minn. St. P.& S. Ste. M..
Missouri K. & Tex. sys..
Mo. Pacific & Iron M t..
Central B r a n c h .......
Mobile & Ohio___. . . . . . .
N. Y. Cent. & Hud. Riv..
N. Y. Ontario & West’n ..
Norfolk & Western.........
Northern Paoitto............
Ohio River____ ____. . . . .
Chio Riv. & Charleston.
Ohio River & L. Erie. ..
1897.
Increase.
9
262,58£
9
42.631
2 48,2 OC
133,58*
128,795
262.41C
48.615
83,965
1,023,19)
4,302
532,241
611,69(
3,160,372
1.015.82Ì
1,860,19«
686,762
775,30C
437,72*
4,755,956
2,595,27*
180,265
227.478
267,71C
8,285
652,064
99.803
2,160,95 j
304,024
236,716
269,553
375,545
100,115
3,400
1,194,326
80,492
23,699
184,37!74,436
222,581
245,473
44,204
181,409
445,505
74,533
1,244
297,59*
210,473
291,940
62,442
5,999
20,603
223,729
103,761
101,409
183,565
37.835
77,937
942,558
3,292
486,17(
609,401
2,585,01*
983,601
1,693,957
661.215
710,586
395,21S
4,130,188
2,091,64«
181,46*
202,71*
195,903
7,893
524,797
87,895
2,042,181
262,656
169,015
246,493
335,841
109,663
2,650
912,505
62,368
20,768
162,123
25,332
192,728
171,326
38,315
162,277
417,163
46,577
1,363
297,190
172,940
275,312
58,897
6,143
16,103
24,471
29,837
27.384
78.845
10,810
6,028
85,633
1,010
46,071
2,283
575,354
32,220
166,237
25,547
64,734
42,515
625,768
503,634
3,590,785
3,161,860
423,925
2,111,661
195,165
333,8o3
21,195
9,762
6,332
4,454,437
609,056
447,700
281,473
7,6483,643
761,191
268,723
68,980
48,437
512,151
71.895
56,325
545,902
61,459
432,115
14,447
238,415
73,288
3,538,949
11,751
19,200
246.619
2,116.685
927,268
565,000
97,711
289,294
507,168
1,870,971
4,043,114
202,354
720,734
6,934,739
540,142
1,736,643
2,924,801
131,068
34,213
4,300
1,534,382
172,050
296.211
16,054
7.652
6,302
3,662,502
554,698
351,830
243,728
7,007
75,905
689,869
214,077
61,501
18,320
200,825
53.386
49,657
521,278
55,049
374,711
10,367
202,575
66,894
3,170,343
11,944
23,519
168,792
2,079,945
325,646
49 7,500
96,802
262,647
421,702
1,837,263
3,518,037
167.415
654,326
6,441,403
515.103
1,589,808
1,973,653
124,561
32,312
4,445
526,779
23,115
37,682
5,14
2,110
24,760
71,807
392
127,267
11,908
118,775
41,368
67,701
23,060
39,704
750
231.821
18,124
2,931
22,255
49,054
29,958
74,147
5,889
19,13?
28,342
27,956
408
37,533
16,628
3,545
4,500
791,985
54,358
95,870
37,745
641
7,738
71,322
54,646
7,479
117
311,326
18,509
6,663
24,624
6,410
57,404
4,080
35,840
6,394
368,606
4,319
77,827
36,7«10
101,622
67,500
909
26,647
85,466
33,708
525,027
34,939
66,408
493,336
25,039
146,835
951,148
6,507
1,901
Decrease«
1,208
9,548
125
144
407
193
145
THE
600
CHROM CILE.
[V o l.
LXVL
come to an early settlement. It would be absurd for jswo
nations to fight about the plague-stricken swamps of
¡8
$
West Africa.
22,757
101,055
123.812
OMo Southern............... .
37,993
91,777
129,770
The struggle of the nationalities continues as bitter as ever
Omaha Kan. C.& East..
414,222
555,306
969,528
Oregon Ry. & Nav’n —
8,049 in Austria-Hungary, the unrest in the Balkan Peninsula is
149,880
141,831
Peoria Dec. & Evansv..
38,565
68,945
107,510
Plttsb. Bess. & L. Erie..
reported to be very great, and there is no visible progress as
189
7,577
7,766
Pitts. Lish. & W est..—
3,186
yet at all events in the settlement of Crete. But important
200,367
203,553
Pittsburg & Western....
25,361
97.517
122,878
Pittsb. Cleve. & Tol....
concessions by the Chinese Government have been , an
2.334
26,548
28,882
Fittsb. Paines, <* F’pt
18,396
50,053
68,449
Rio Grande Southern...
nounced. The internal water-ways are to be thro wn open to
107,28
331,09*
438,382
Rio Grande Western —
the steamers of all countries of the world next June, a port
16,257
186,821
203,078
St. Jos. & Grand Island.
217,071
864,600
1,081,671
St. Louis & San Fran..
is to be opened in Hunan within two years, and the Valley of
178,172,
935,500
757,328
St. Louis Southwestern.
21,315
178,015
199,330
the Yang-tzse-Kiang is to be made neutral.
8t. Paul & Duluth.........
22,572
87,898
110,470
San Fran.& North. Pae.
It has been announced this week from Egypt that the
18,335
92.919
111,254
Santa Fe Pres. & P h x ..
164
2,975
3.139
South Haven & Enst’n
Egyptian Government has sanctioned a contract with a
5,199
50,534
55,733
Sherman Shreve.&So..
242,156
British firm for the construction of tw o great dams across
3,136,885
3,379,041
Southern Railway.........
16,910
32,321
49,231
Texas Central*...............
the Nile, to provide the country with water during the dry
174,343
1,148,306
1,322,649
Texas- & Paciho..............
1,693
5,856
7,549
Tex. Sab. Val. & N . W ..
5,257 season, and also in years of low Nile. The works are to be
259,707
254,450
Toledo & Ohio Central..
completed in five years, and payment is to be made after the
6,401
146,244
152,645
Toledo Peoria & West’n
28',187
330,620
302,433
Toi. St. L. & Kan. City.
completion of the works by annual instalments continued
132,230
483,632
615,862
Union Pao. Den. & Gulf
196,647
1,697,916
1,894,563
for thirty years of £160,000.
Wabash.............................
23,*26
402,230
425,756
West. N. Y . & Pa..........
In South Africa President Kruger seems as unwilling as
74,128
144,325
218,453
Wheeling & Lake E rie.
113,024
580,618
693,642
Wisconsin Central........
ever to make concessions to the mining industry, and if the
57,640 telegrams are to be believed he wishes to raise in rather a
84,349,575 73,069,097 11,338,1181
Total (130 roads) —
11,280,478'
dangerous form the question as to the British suzerainty over
Net increase.......
* For three weeks only in February.
QT.<r the Transvaal.
i Includes Chesapeake & Ohio Southwestern, Ohio Valley ana
After Lord ¡Salisbury’s statement in the House of Lords on
Chicago & Texas for 1898 ODly.
Tuesday there was a general recovery in markets on W ednes
day morning, particularly in the American market. But a
speedy fall occurred, owing to rumors of very strained rela
tions between the United States and Spain. The great invest
[From our own correspondent.]
ing public continues to keep away fr im the American as well
as from every other department of the Stock Exchange. But
L ondon, Saturday, February 26, 1898.
The tw o telegrams read by Mr. Chamberlain in the House there is undoubtedly more speculation than there has been,
f Commons on Friday night, or rather early on Saturday and the fall this week has induced a considerable amount of
morning, have made much noise in the newspapers and have buying in London. The buying, however, is entirely specu
caused some apprehension among the public, but they have lative, and it may be doubted, therefore, whether it really
not excited the war feeling which those at a distance might strengthens the market.
Meanwhile the condition of Spain is growing worse and
naturally suppose to exist from the very bellicose language
used by some of our newspapers. There has, in fact, been worse. Her finances have long been in a desperate state and
exceedingly little fall upon the Stock Exchange. The high the wonder to all close observers has been how she has man
est price reached by consols recently was about 113%, the aged to go on paying the interest on her debt and at the same
lowest touched this week was 112%. There was a rapid rise time to find the means for carrying on the military opera
to 113, then another fall, followed by a recovery to about tions in Cuba and the Philippines. It looks a3 if the end were
112%. In the bonds of European Governments there has now nearly approaching. The Bank of Spain has always been
been scarcely any movement with the exception of Spanish in the habit of cashing coupons some time before they fel
bonds. And in the other great investment markets the due. It is said that this week it has cashed coupons on Span
changes have been equally slight. But markets have un ish bonds only “ with recourse to the holder.” In other
doubtedly become more stagnant than they were before. words, if the coupon is not paid the money will have to be
For many months investors have been holding aloof, mainly reimbursed, and naturally this has led to the rumor that the
under the influence of political considerations, and Mr. April coupon will not be paid.
The Chinese Government, having been frightened by Rus
Chamberlain’s announcement has made them still more
sia from accepting the loan which the British Government
adverse to part with their money.
It is hoped that the telegrams and the dramatic way in was willing to make to it, has now arranged for a loan of 16
which they were read will bring about a better state of millions sterling, bearing interest at the rate of 4% per cent,
things. For many months a Commission has been sitting in with the Hong Kong «fe Shanghai Banking Corporation and
Paris to settle the conflicting claims of this country and the German Asiatic Bank. A ll the details are not yet settled,
France respecting West Africa. But the Commission has bat already in London the loan is underwritten. In Berlin,
maintained rigorous silence, and the general impression both also, underwriting preparations are going on rapidly.
The Bank of England continues to hold complete control
in Paris and in London is that practically no progress has
been made. Meanwhile, there was an understanding bet ween of the outside market, and is doing a.very good business both
the two governments that neither should make any further in loans and discounts. Most of the loans that fell due at
move in West Africa. In spite of that, if the telegrams are the Bank this week have had to be renewed, and fresh loans
many cases have had to be made. No gold worth speaking
to be believed, small detachments of French troops have
been pushing vigorously forward in the debatable districts of has been withdrawn from the Bank, and the foreign de
so as to strengthen the hands of their own Government in mand for the metal in the open m «rket is small. Everything
the negotiations by showing that so much of the disputed seems to point to a continuance of the present state of things,
districts are effectually occupied by the French. It is to be until at least the middle of March, when the payments out
hoped now that stringent orders will be given by both gov of the Exchequer will become very large. Whether money
ernments that there must be no further movements, and that will then become much easier depends a good deal upon the
the Commission will be instructed to push on the negotiations. state of politics.
Trade is undoubtedly good all over the country; the conse
On Tuesday afternoon Lord Salisbury read a very satisfac
tory telegram from the British Ambassador in Paris, report quent demand for money is very strong. If the trade im
ing that the French Foreign Minister had declared that if provement continues, it is reasonable to anticipate that the
French troops had entered the Kingdom o f Sokoto, it was rates of interest and discount will be fairly well maintained,
contrary to the orders as well as to the wishes of the French though of course there will be short periods of ease, as for
Government. But, unfortunately, that does not touch the example during the first fortnight of April. On the other
tw o other districts which are said to have been entered by hand, if apprehension should increase without becoming
strong enough to cause real alarm, trade itself will no doubt
French troops. Still, the spirit of M. Hanotaux’s announce fall off and rates then will tend to decline.
ment, and the dignified calm maintained by the French press
Meantime, the stringency in the Indian money market
in general, give rerson to hope that the negotiations will now grows greater. On Thursday the Bank of Bombay raised its
be continued in a friendly spirit, and with every desire to rate of discount from 12 per cent to 13 per cent, and the Bank
Alarne o f R oa d .
1898.
1897.
Increase.
ptouetarnl©ommerctalg«gXtsTl21cwB
great
M arch
THE
12, 1898.]
CHRONICLE.
of Bengal raised its rate from 11 per cent to 12 per cent. The
crops in India this year are wonderfully good. There is a
very active export of rice from Burmah, and in spite of the
plague there is a much larger export of cotton from Bombay.
The demand for moving the crops is telling very strongly
upon the markets. As a natural consequence, the India
Council is disposing of its drafts exceedingly well. On
Wednesday it offered for tender as usual 40 lacs, and sold the
whole amount, 17 lacs being in bills at prices from Is. 3 27 32d.
to Is. 8%d. per rupee, and 23 lacs in telegraphic transfers at
from Is. 3 31-32 to Is. 4d. per rupee. Subsequently it sold
lacs at Is. 4d. by special contract. On Thursday it sold 2o
lacs further, half in bills at Is. 3 29-32d. and half in transfers
at Is. 4 l-33d. per rupee. On Friday another
lacs of trans
fers were sold by private contract at Is. 4 l-32d.
The follow ing return shows the position o f the Bank of
England, the Bank rate of discount, the price of consols,
«fee., compared with the last three years:
1897.
18B8
1896.
1815
Feb. 26.
£
Feb. 24.
£
Feb. 23.
fc
Feb. 27.
£
26.S53.465 25,663,940 24.919.335 24,794,162
Oircaiauon .. . . . . . . ......... .
18,594.790 16,233,795 17,011,268 10,193,962
Pablic deposits ......................
40,21)3,2 4 47,511,698 32.057,530
36,762,493
Other deposits .. . . . . . . . . . . .
13,994.565 15,038,858 14,569,328 12.478.4S8
Government securities .... .
Other securities ......... ........... 35,016,076 24,401,361 27,061,603 18,774,603
24,193,750 30,265,330 40,996,678 29J90.435
Reserve of notes and o 'la
Coin A bullion, both depurr.’t*. 34,037,215 39,0 19.270 49,U*$013 37,0-4,603
53H
68%
44)6
63%
Prop, reserve to llab illties. o.o.
3
Z
6
Bank rate
.percent.
112 9-16
109 9-16
to4 u-ie
Consols,
per aent ..
112H
+ 37 9-16(1
29^d
2596d.
31% 1.
Silver......................................
132,450,000 131,7 77,000 US 635,009 125 ,671.01 0
C evtng-HouBe reurns.
February 22.
The rates for money have been as fo llo w s :
Interest alitwed
for deposits bf
Open M ir ket Hates.
Ö
Trade Bills
BwiU Sails,
r-C
£
Six
Stoch A t 7 to U
Four
Three
Six
Four
Three
«
05 Months Months Months Months Months Months Sann.* Call. Day.
J an.
Feb.
“
“
"
28
4
11
18
25
3
3
3
3
3
3
3
2%
2%
2%
*
2%@%
2%
+
3
2%
2%
m
*
t
2%
2%@1
3
2%
2% 2%@%
+ 2 9- ip @ %
*a 7 -ie@ &
2%
3
3
3
3%
3
3 @3M
3 @3%
3 @3M
2
2
2
2
2
1%
1%
1%
1%
2%
2)4
2%
2k
2k
The Bank rate of discount and ouen market rates at the
Chief Continental cities have been as follows:
Bates of
Interest, at
Parts... .........
Berlin.............
Hamburg
Frankfort
Amsterdam..
Brussels........
Vienna
8t. Petersburg.
Madrid. ..
Oopenhx tren
Feb. 18.
Feb. 25.
Bank
Rate.
2
3
3
3
»
3
4
5%
5
4
Open
Market
Feb 11.
Bank
Bate.
Open
Market
Bank
Bate.
2
3
3
3
s
1H
2
4
4
4
3
3
4
5%
5
4
1%
2%
i 2%
2%
2%
2
m
m
4
4
*
4
5%
5
4
2%
2% 2%
2%
2
3k
5
4
4
Open
Marke'
1H
•-%
2%
2 15-16
2%
2
8%
5
1
4
Feb. 4.
Bank
Rate
Market
2
4
4
4
3
3
1 15-18
2%
2%
3
2%
2
Open
■*%
5%
5
4
5
4
4
Messrs. Pixley & Abell write as follows under date of
Feb. 24:
Gold.—The premium on gold which has lasted so long has all hut
disappeared, and it seems more than likely that some portions of the
recent arrivals will reach the Bank to-morrow. During the week
£114,000 has come from Australia in coin and £20,000 has been
withdrawn for South America. Arrivals: New Zealand. £12,000;
Australia, £ 11 4 ,00 0 : Bombay, £60,000; Capetown, £208,000. Total,
£394,000. Shipments to Bombay, £40,000. Special January move
ments. Tmports: Belgium, £23,000; France, £155,000; Japan, £78,000. Exports: Russia, £55,000; Germany, £1,792,000; South Amer
ica, £895,000.
Silver.—There is very little doing with India, the chief inquiry he
ing for “future delivery” to the Straits. The market closes steady.
The Indian price to-day is Rs. 66% per 100 Tolahs. Arrivals from
New York, £99,000. Shipments: Bombay, £171,000; Hong Kong,
£20,000; Shanghai, £13,500. Total, £204,500. Special January
movements.—Exports: Russia, £81,000. Germany: On balance, £ 74,000; France. £17 ,0 00 ; Spain, £56,000
Mexican Dollars.—The market is nominal in the absence of business.
The quotations for bullion are reported as follows:
Gold
London Standard
Bar gold. tine___ oz.
Bar gold.parting.oz.
U .S . gold ooln.-.oz.
Germ’n goldcoin.oz.
French void coin.oz.
Japanese yen ,...oz.
Feb.
24
s
77
77
76
76
7«
76
d
9%
9%
4%
3%
3%
4%
Feb.
17.
8.
77
77
76
76
76
76
SILVER.
L ond on Standard
Feb.
24
d.
d
9^2 Bar silver, flne...oz. 2511.
9% Bar silver, oontain’ g
4%
do 5 grs. gold.oz. 26118
3%
do 4 grs. gold oz. 26
do 3 grs. gold.oz. 2 13
3%
4% Cake silver ___oz. 270
Mexican dollars, oz. 26
Feb.
17.
d
The following shows the imports of cereal produce into
the United Kingdom during the first twenty-five weeks of
the new season oomoared with previous seasons ?
IMPORT»
1897-8.
lm portsofw h ea t.ow t.2 9,81 8,31 0
Barley............................ 10.^16,594=
O a ts..................
7,298.260
Peas............................... 1.393,400
Beans............................. 1,529,240
Indian corn................... 22,821,360
Flour............................ .10,405,880
Supplies available for consumption (exclusive of stocks on
September 11:
1897-8.
1896-7
Wheat imported, owt. 29,818,310 34,54 6,210
Imports of flour........ 10,405,880 11,532,560
Sales of home-grown. 14,547,705 13,629,134
1895-6.
3 2,096,960
10,450,370
8,032,677
1894-5.
32,509,166
9,576,630
10,920,453
Total....................... 54,771,895 59,707,904 50,530,007
1897-8
1896-7.
1895-6
vver.price wneat,week.35s. 0;!.
28s. l i d .
268. 3d
25s. Od
Average price, season._33s. 9d.
29s. 5d.
53,006,249
1894 5.
19s. lOd.
19s. 9d.
The following shows the quantities of wheat, flour and
naize afloat to the United Kingdom :
Wheat...............qrs.
Flour,equal to qrs.
Maize................ qrs.
1896-7.
i 895-6.
189-1-5
3U 546.210 32,096,860 32,509,166
13,959,870 13,563,350 15,608,934
9,566,210
6.810,340 7,534,137
1,914.658
1,509,330 1,298.539
1,639,550
1,916,382
2,S36,:-S2
29,432,630 21,848,800 12,161,614
11,532,560 10,450,370 9,5 6,63o
This week
2,685,000
555,000
670 000
1897.
2,135,000
330,000
930,000
Last w eek.
2,597,000
480,000
635.000
1896.
2,273,000
438,00 0
845,00 0
E n g l is h F i a a a c i a l M a r t le t s —P e r C a b le .
The daily closing quotations for securities, etc., at London
are reported by cable as follows for the week ending Mar. 11 •
Mon.
Tues.
253,6
Sliver, per oun ce....... d. 253s
Consols., new, 2% p.ets. 11115,6 111%
For account................ 112% 111%
Fr’ch rentes (in Paris) fr. 04-32% 104-10
Atch. Top. & Santa Fe. 12%
11%
Do
do
pref. 27%
26%
84%
86%
20
Chesapeake & Ohio.__
21%
Ohio. Milw. <te St. Paul. 95%
93
Denv, & Rio Gr., pref.. 483s
46%
Erie, common................ 14
12%
1st preferred____
35%
38%
Illinois Central............ 104% 102%
195
196
52
Louisville & Nashville. 5538
66
Mexican Central, 4s .. 67
11%
Mo. Kan. & Tex., com.. 12%
N, Y . Cent’l <!fc Hudson. 117% 114%
15
N. Y. Ontario & West’n 15 78
47
•Jor folk <fe West’n, pref. 48 34
22%
Northern Pacific, com.. 24%
62
Preferred..................... 64%
59
•Pennsylvania________ 5978
9%
7hila. & Read., per sh..
9%
Phil. & Read., 1st pref. 22%
21%
Phil. & Read., 2d pref. 11%
si
South’ n Railway, com.
8%
27%
Preferred.................. .
29
29%
26%
Union Paoiflo____
51
Do
new pref.. 54%
15
Wabash, prefevi&u
16%
25%
111&16
111%
104-25
11%
25%
84%
20
94%
45%
13%
36
102%
195
53
66
11%
114%
15
46%
22%
62%
59
9%
90%
11%
8%
28
27%
52
15%
L on d on .
Sat.
Wed.
Thurs.
F ri.
253,6
25%
25%
H I 11™ H »16 11111™
11113,6 H I 11™ 111%
104-30 104-10 04-17%
123s
12%
11%
27%
27%
26%
84%
86
86%
20%
20%
20%
95%
95%
93%
46
46%
47
13%
133s
13%
36%
35%
36%
103% 103
103
195
195
53%
53
51%
66%
66%
66%
11%
11%
11%
116% 116
115%
15
15
15%
47%
47
46%
23%
23
23%
63%
6338
62%
59%
59%
59
9%
938
93s
21%
20%
21%
1138
11%
n%
8%
8%
8%
27%
28
28%
28%
28%
27%
52%
53
52%
15%
15%
15%
ce liane oxxsJJ evos
©cmxraer ciat and
N a t io n a l B a n k s . —The following information regarding
national banks is from the Treasury Department:
C O R P O R A T E E X IS T E N C E O P N A T IO N A L B A N K E X T E N D E D .
2,738.—The Nyack National Bank, Nyaok, New York, until February
28,1 9 18 .
IN LIQUIDATION
3,460.—The First National Bank of Pomeroy, Washington, has gone
into voluntary liquidation by resolution of its stockholders
dated January 1 1,1898.
3,479.—The First National Bank of Clark, South Dakota, has gone
into voluntary liquidation by resolution of its stockholders
dated November 1 ,18 9 7.
3,813.—The First National Bank of Osage City. Kansas, has gone into
voluntary liquidation by resolution of its stockholdersdated,
January 11, 1898, to take effect February 1, 1898.
2,826.—The National Bank of America at Chicago, Illinois, has gone
into voluntary liquidation by resolution of its stockholders
dated January 2 5.1 8 9 8 , to take effect February 11, 1898.
3,485.—The First National Bank of Aspen, Colorado, has «one into
voluntary liquidation, by resolution of its stockholders dated
January 11,1898, to take effeot February 1, 1898.
ERRATUM .
3,343.—The First National Bank of Aurora should be “ The First Na
tional Bank of Auburn.”
IN S O L V E N T .
2,854.—The First National Bank of Larimore, North Dakota, was on
February 26, 1898, placed in the hands of William A.
Gordon.Receiver.
3,747.—The Sault 9te. Marie National Bank, Sault Ste Marie, Mich
igan, Eugene MoComas; appointed receiver in place of John
j . Enright (resigned), to take effect March 1 ,18 9 8.
I m p o r ts a n d E x p o r t s f o r t h e W e e k . —The following ar®
the imports at New York for the week ending for dry goods
March 3 and for the week ending for general merchandise
March 4 also totals since the beginning of the first week
In January.
«■OREION IM P O R T S AT N E W T O R R .
2513)6
265ig
26%
S5
2778
125%
501
For week.
1898.
1897.
1896.
1895.
$3,143.840
6.750,070
»ry'goods____
™n’l mer’dlse
$1.694,525
»,341,583
$2,611,085
8,002.911
$3,290.816
6,287,704
Total ___
Since Jan. 1.
>ry goods. . . .
•sn’l mer’dlse
$10,036,113
$10,613,996
$9,578,520
$9,893,910
$21,420,622
56,404,304
$22,616,137
61,727,131
$29,560,327
61,640,086
$31,937,362
58,567.388
-o ta!9 weeks..
$77,824,926
$84,343,268
$91,200,413
$90,504,750
The imports of dry goods for one week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending March 7 and from January 1 to date :
THE CHRONICLE
EXPORTS FROM NEW FORK FOR THE WEEK.
1897.
1898.
$9,957,487
71,757,728
$8,963,918
61,081,162
$8;012,827
61,445,492
$6,634,915
52,889,740
$81,715,215
$70,050,080
$69,458,319
$59,584,655
For the week..
Prev. reported
Total 9 weeks..
1895.
1896.
The following table shows the exports and imports of
specie at the port of New York for the week ending March
5 and since January 1, 1898, and for the corresponding
periods in 1897 and 1896.
EXPORTS AND IMPORTS OF SPECIE AT NEW TORK.
Exports.
Gold.
Week.
Im ports.
Since J a n .l.
Since J a n .l.
Week.
$553,399
3,171,757
180
112,345
20,377
164,142
76,498
$200
Great Britain..........
$790
West Indies.............
3,397,805
21,470
$3,909
40
21,549
$3,419,475
774,771
12,428.485
$25,498
225,021
58,967
South America.......
All other oountries.
$790
239,900
Total 1898.........
Total 1897.........
Total 1896.........
........
Im ports.
E xports.
Silver,
Week.
$570,830
Great Britain...........
Germany.................
West Indies..............
M exico.....................
South America.......
A ll other oountries.
33,250
$604,080
820,323
884,700
Total 18 98.........
T otal1 8 9 7 .........
T otal1 8 9 6 .........
$4,098,698
713.662
17,107 ¿621
W eek.
S inceJan. 1.
S inceJan. 1.
$7,246,138
286,000
410
155,104
14,159
44,050
.
$7,745,861
7,799,417
9,419,626
$ 3 5 ,2 0 1!
38,742
28,986
$548
22,081
120
63,620
197,219
197,572
14217
$364
• 12,974
21,866
$495,377
420,690
462,700
Of the above imports for the week in 1893 $1,333 were
American gold coin and $43 American silver coin. Of the
exports during the same time $790 were American gold
coin.
—The Oregon Railway & Navigation Company has de
clared a quarterly dividend o f one per cent on its preferred
stock, payable April 1 at the Central Trust Co. of New
York and at the Old Colony Trust Co. of Boston.
B r e a d s tu ff's F ig u r e s B r o u g h t F r o m P a g e 5 3 6 . —The
statements below are prepared By us from the figures of the
New York Produce Exchange. The receipts at Western lake
and river ports for the week ending Mar. 5, and since Aug.
1, for each o f the last three years, have been as follows:
Receipts at—
Wheat.
Flour.
Oats.
Corn.
Barley.
K e.
Bbls. 196 lbs Bush.QO lbs Bush.bQlbs Bush.32lbs BushASlbs Bu.56 lb .
430,730
61,250
416,293 3,437,288 2,395,804
166,374
C hicago........
221,000
257,400
252,800
132,600
50,400
25,060
M ilw aukee..
2-24.997
217.601
253,559
6,659
30,545
151,940
120.450
6,920 1,001,570'
M inneapolis'
65,003
339,50)
1,130
98,653
4,581
89,9fc0
70,102
59,631
112^929
14,212
6,600
D e t r o it........
258,940
09,733
117,708
875,380
23,250
118,020
181,995
21,143
29,360
St. L o u is . . . .
10,800
434,800
202,100
48,300
2,4(0
7,ICO
P e o r ia ..........
448,500
445,500
103,000
Kansas City.
Tot.w k.’98.
Same wk.’97.
Same wk.’96.
Since Aug. 1.
1897-93..........
1896 97..........
1896-96..........
244 424
128,005
160,098
2,754,705
1,894,226
2,214,223
6,405,239
3,733,187
2,790,552
3.822,271
2,722,016
3,559,893
827,379
568,013
835,526
190,581
91.419
77,965
6,821,476 171.010,307 157,650,1*2 122,883,051 28.990,819 8,177,447
7,473,792 122,992,493 106,714,400 116,633,960 31,877,058 5,753,105
7,400,971 155,559,638 79,384,540 93.438,624 30.S70.907 2.800.34
The receipts o f flour and grain at the seaboard ports for the
week ended Mar. 5, 1898, follows:
Flour.
bbls.
Receipts a t—
..
..
B a ltim o re............. ..
10.593
85,295
61,103
1,506
14.783
..
8,000
St. Johns, N. B ... ..
11.1 i i
Wheat,
Com ,
bush.
bush.
033,400
282.750
159.095
248.309
33.000
4.130
646,430
122.763
949.733
251.271
12,270
26,490
765.237 1,034,088
210,221
4>-.887
180,000
24,000
563,441
106,857
270,600
145,251
14,709
.... ...
Oats,
bush.
457.200
201,275
169,600
188,231
157,459
23,290
151.705
167,893
Barley.
bush.
41.925
500
2,720
10,400
2,100
Bye,
bush.
73,050
5,400
2,815
26,693
8,547
700
72.363
6?,932
2,600
700
84,338
102,004
.. 379.187 2.374.297 4,370,771 1.580,812
1,234,490
271,301
57,899
330,483 5,371,724
lo v t................
A»»
0
1,000
.. 283,888
W eek 1897.............
* Receipts do not include strain passing throuzh New Orleans fo r foreign
ports on throu gh bills o f lading.
Total receipts at ports from Jan. 1 to Mar. 5 compare as
follows for four years:
F lo u r .................... i
1893.
3,507,503
1897.
2,045,014
1896.
2,722,064
1895.
2,453,133
B arley..................
R y e ........................
••
•1
13.491,825
37,496,722
18,827,508
1,230.493
2,617,742
3.721.221
40.48 -.877
9.633.433
1.730.008
1,047,617
2.164,293
13.410.181
6,060,080
997,043
160,599
2,833.502
4.140,808
4,774,689
777.330
68,569
"
73,561,380
56,651,159
23,107,796
12,594,898
T otal gra in ... .
The exports from the several seaboard ports for the week
ending Mar. 5, 1898, are shown in the annexed statement:
[VOL. L X V I .
Wheat,
Corn,
Exports from — bush.
hush.
New fo r k .. .. 333,196 521,214
Boston............
95,853 304,478
Portland . . . . 210,221
48,887
Philadelphia.. 349,729 486,712
Baltimore....... 123,975 571,293
New Orleans.. 333,888 1,638,174
Norfolk......... 563,441
Newp’rt News 34,000 189,000
St. Johns,N. B. 14,799 . . . . ...
Oa)v e s to n .... 340,200 431,196
M obile...........
106,357
flo w ,
T ota lw ’k ...1,721,861 4,861,252
Same tim e ’97. 540,625 6,214,780
Oats,
bush,
544,849
162,888
167,893
106,100
bbls.
84,271
39,389
15.702
18,865
18,659
7,525
R ye,
bush.
146,079
Peas
bush.
3,652
Barley
bush.
124,588
8,547
46,142
26,693
HO.OfO
25,714
72,363
700
197,552 1,164,975
180,666 543,261
13l,<’40
24,730
832
'8,000
11,141
43.3C9
93.003
52,057
751,281
260,818
The destination o f these exports for the week and sinoe
September 1, 1897, is as below.
r- — H our.--------- , r—------W heat.--------> <—--------- Corn.---------- ,
Exports for
Week Since Sept. Week Since Sept. Week
Since Sept,
week and since Mch. 5.
1,1897.
Mch. 5. 1, 1897.
Mch. 5. ,
1,1897.
bbls.
bush.
bush.
bush.
bush.
Sept. 1 to—
bbls.
1, 146,356 89, 469,071 1, 955,628 45,052,232
United Kingdom 133,763 5, 824,883
751,836
646,989 30, 925,166 2, 835,658 49, 446,202
Continent...........
18.011
861,664
576,576
861.664
433
104 202
104,292
3 A C . A m erica.. 24,650
1,375
32,639
945,648
695,156
West Indies.......
18,112
300
14,175
253,985
141,941
Brit. N. A . Col'S.
1,518
28,516
592,551
22,714
385,964
Other countries..
1,503
147,381
Total ................. 197,552
Total 1896-7........ 180,666
The visible supply of grain, comprising the stocks in
granai y at the principal points o f aooumulation at lake and
seaboard ports, Mar. 5, 1898, was as follows:
Corn,
bush
2,307,000
Wheat,
In store at—
»
bush.
New York.................... 1,881,000
Do afloat............................
A lb a n ;........................
. . ..
Buffalo........................
800.000
Do afloat........... 410,000
C hicago...................... 8,450.000
no
afloat........... 1,521,000
ü >iWKUkee.................. 108,000
Do a floa t............................
D-. inlb.......... .............. 2,707,000
l>o
a floa t..........................
T ledo. . . .
..........
225,000
Do
afloat..........
..........
Detroit ..................... 107,000
Do
afloat................ ; .........
.»«weg-.........................................
i\ bouts..................... 1 447,000
Do afloat.............................
notnnatt......... ........
8.000
Boston, .. ..................
324,000
83,000
Toronto.......................
Montreal.....................
110,000
Philadelphia............... 4*6,000
Peoria.
...............
....
Indianapolis...............
51,000
Kansas City................
986,000
1,249,000
Baltimore...............
Mmneapolls............ ..12,057,000
On Mississippi R iver.
92,000
On bakes......................................
On canal and r iv e r ............. .......
Total
Total
Total
Total
Total
M
©
**
©
O
O
502
Oats
bush
2552,900
233,000
50,000
90,000
10,623,000
6.840.000
123.000
1,207.000
2,696,000
1.405.000
232,000
83.000
316.000
2,747,000
1.275,000
504,000
295,000
14,000
14.000
9,000
27.Ò0Ò
3,152.000
90.C00
137,000
74,000
¿,000
18,000
597.000
17.000
784,000
621,000
123,000
30,000
10.000
479,000
2.289.000
21,000
2,000
13,000
53,000
125,000
897,000
45,000
1.415,000
889.000
37.000
663,000
1.301,000
1.156,000
110,000
Rye.
bush.
498,000
25,000
50,000
84,000
795,000
108.003
65,000
36,000
B arley
bush.
50.000
159,000
10,000
850,000
5Ó3.ÒÓÓ
93,000
25,000
• • •<
542,000
1,000
77000
36,000
8.000
1,000
9,000
235.000
142,000
31,000
8.576,000
3,661,000
3.571 000
1,487,000
297 OOO
I.891.0C0
2.165.000
3.213.000
1.H97.0C0
1,217,000
21,000
46,000
41.471.000
40.870,000
20.377.000
14,950,000
13.792.000
Mar. 5,1898 33.fl2.COO
Feb. 28 1898 34,083,000
Mar, 6,1897 42,768.000
Mar. 8,1896 62.536,000
Mar. 9. 1895 77.7i7.oo»
13.184,000
13.473.000
13.723.000
7.227,000
6,409 000
New York City, Boston and P h ila d elp h ia Banks.—Below
we furnish a summary of the weekly returns of the Clearing
House banks of New York City, Boäton and Philadelphia.
The New York figures do not include results for the nonmember banks, which will be found separately reported on
the third page following.
BANES.
Capital &
Surplus.
$
Feb. 11.. 133.293.9
I 19.. 133.293.9
‘ 28.. 133.293.9
Mar. 5.. 133,281,8
N . Y.*~
Bos.*
F eb. 19..
‘ 26..
M ar
5..
I'hlla. *
Feb. 1 9 .
“ 20..
Mar. 5..
Loans.
9
639.836.4
646,915,2
641.878.4
628.256.4
Deposits.* Ciro'Vn
Legale.
Specie.
9
$
$
$
1149677 102,140.3 738,683,8 13.914.7 725.199.6
1168338 93,494,8 738,560,6 13.778,1 996.600.6
1191885 80,076,4 729.214.3 13.727.7 803.511.6
1201259 .77,202,7 706.020.4 13,774,9 904.747.4
88,587,8 180.776.0 11,616,0
88.687.6 180.507.0 11.454.0
68.587.6 182.117.0 11.126.0
9.208.0 189.895.0
9.236.0 186.371.0
8.562.0 186.955.0
133.105.0
131.448.0
129.665.0
43.199.0
40.928.0
37.480.0
35.388.0 116.771.0
35.388.0 117.841.0
35.388.0 119.485.0
5.260.0 111.044.4
5.249.0 89,314,7
5.274.0 119.598.4
5.734.0
5.735.0
5.700.0
81.480.2
67.112.2
82,005, 2
A uction Sales.— Among other securities the follow ing, not
regularly dealt in at the Board, were recently sold at auction :
By Messrs. Adrian H. Muller & Son :
Shares.
Shares.
20 Cochran Oler Ice Co. of
20 Hanover Fire Ins. C o .... 140
Baltimore......................... 100
25 Nat. Bank of Commerce.2 0 4 ^
3 Continental Ins. Co......... 450
10 Aetna Ins. Co. of Hartf’d.275
90 Chatham Nat’l Bank.......293*3
35 Lafland& Rand Powd.Co.185
7 Title Guar. & Trust C o ..294*3
B onds.
5 TJ. S. Mort. & Trust C o ..289*2
$ 5 7 1 5 Bkln.Un.Gas Stk.Scrip $65
10 Market & Fulton B ank..231
$85 72 Bkln.Un.QasB’d.Scrip $92
100 42d St., Manhat’ v. & St.
Nieh. Ave. RR................ 6OI4 $1,000 Equitable Seour. Co.
Deb. 4 5s, 1904, M&S......... 75
10 Brooklyn Acad, of Music
$2,000 Penn Cordage Co. 1st
(with ticket).................... 116
6s, 1916, F&A; Feb., 1898,
10 Fifth Ave. Trust Co......... 362
coupons on............................ 19
10 Real Estate Exch. & Auc
tion Room, Limited___ 81
______ g a n M u g mid gptxtttrcial.______
Spencer T rask & C o .,
BANKERS
2 1 Sc 2 9 P I N E S T R E E T ,
.
.
.
65 State Street, A lba n y.
NEW TORK.
IN VESTM EN T SECURITIES.
Georoe Ba rclay Moffat.
Mo f f a t
A l e x a n d e r M. W h it e , J r
& W hite,
BANKERS,
No . 1 N A S S A U S T R E E T ,
.
.
.
NEW YORK
IN VESTM EN T SECURITIES
M arch 12 ,
TH R CHRONICLE.
1898.]
îB a u k c r s ’
503
Posted rates of leading bankers follow :
(S ;m t t c .
M arch 11.
Sixty days.
DIVIDENDS.
Name o f Company.
P er
When
Cent. Payable.
B ooks elosed.
( D ay8 inclusive.)
R a ilr o a d s (S t e a m .)
Atlanta & Char. Air Line..............
3
Mar.
7
------- t o -------Atlantic Coast L in e ......................
2
Mar. 10 !Mar. 1 to Mar. 10
Chic. & East Ills. yref. (quar.). . .
1*3 April 1 Mar. 17 to Mar. 20
Chicago Mil. & St. Paul eommon *2*3 >
“
“
“
pref.......
3*3 > April 19'Mch. 30 to Apr. 11
Chic. & North West. pref. (quar.)
1% April 6 Mar. 13 to Mar. 22
Clev. Cin. Ch. & St. L. prf.(quar.)
1*4 April 20,Apr. 1 to Apr. 10
Manhattan (quar.)..........................
I
April 1 Mar. 19 to Apr
N. Y. Cent. & Hud. Riv, (quar.).
1
April 15 Mar. 16 to Apr. 20
N. Y . & Harlem com. and p re f...
2
April 1 Mar. 17 to Apr. 1
1*3 April 1 ----------- t o -----Northern of N. H. (quar.)............
Ore. RR. & Nav. pref. (quar.) . . . . 1
[April 1 Mar. IS to Apr. 1
Pittsb. Youngs. & Ash. com.......
3 ) Mch, 25
Mch. 16 to Meh. 25
“
“
“
pref.......
3*2 5
Sunbury & Lewistown...................
4
April
to —
Amer. Sugar Refg. com.(quar.)..
3
Mar. 16 to Apr. 3
“
pref. (quar.)
1 % April
S treet R a i l w a y s .
United Trao. & Elec. (Prov. R. I.)
% April 1 Mch. 2 1 to A p r.'2
m is c e lla n e o u s .
Ch.Jun.Rys. & U .S tk.Y ds.pf.(qr.)
l*g April 1 Mar. 20 to Apr. 1
Commercial Cable (quar.)............
i % April 1 Mar. 22 to Apr. 1
P. Lonllard pref. (quar.)..............
2
April 1 Mar. 27 to Mar. 31
Spirits Distribut. 1 st pf. (quar.)
1 % Mar. 15
Mar. 16
Swift & Co. (quar.)........................
l^
April 4 Mar. 20 to Apr. 4
Welsbach Light (quar.)...............
20
Mar. 2 5 ----------t o -------------1*4 April 15|Mar. 19 to Mar. 31
Western Union Teleg. (quar.)___
' One-half per cent of t his is extra.
W A L L S T R E E T , F R ID A Y, M A R C H 1 1 , 1 S 9 S -5 P. M .
Prime bankers’ sterling bills on London
Prime commercial............................
Documentary commercial..............
Paris bankers’ (francs)..................
Amsterdam (guilders) bankers............
Frankfort or Bremen (reicbmarks) b’kers
4
4
4
5
Demand.
82 @ 4 82*3 4 85 @ 4 85*3
80 @4 80*a
80 @ 4 81
25 @5 243g 5 23% ®5 23*8
3978®39*5|e 40 ® 40*18
9 3 78@94
945, b-®947Ϋ
wcac duo
uuuiebtio excnange on
New York at the under-mentioned cities to-day: Savannah
buying par. selling 1 10 premium: Charleston buying 1-16
discount, selling 1-16 premium; New Orleans, bank, par
commercial $1 00 discount; Chicago, 20c. per 1,000 discount’
St. Louis, 12%c. discount@par.
United States Bonds.—Sales of Government bonds at the
Board include $22,000 5s, coup., at l l l % to 1113/; m 000 cur.
rency 6s, 1899, at 103; $54,0 0 4s, coup., 1925, at 122 to 1235/*
iQ
™ 00A
rie&to
’ *???’
>200 4s, r e g .’,
1907,
at 109%
111. at 122^ t0 123^> and
The following are the closing quotations :
Interest
Periods.
........................ reg. Q. -Mch.
1 9 0 7 .............reg. Q .-J a n .
1907........... coup. Q .-J an .
1 9 2 5 .............reg. Q .-F e b .
1925........... coup. Q .-F eb .
1 9 0 4 .............reg. Q .-F eb .
1904........... coup. Q .-F eb .
cur’cy,’9 9...re g . J. & J.
(Cher.)1898.reg. March.
(Cher.) 1899.reg. March.
Mar.
5.
* 99
'111
'1 1 2
Mar.
7.
' 99
110*2
M ar.
8.
' 98*2
1095s
112 '111
123*2 122*8
'124
123*2 122
'112
112 '111
'112
111% 111
*103*2 *103*2 103*2
103*2 *103*2 100
103*2,103*2 100 *100
* This is the price bid at the morning board; no sale was made.
123*2
The Money Market and Financial Situation.—The news
from Washington on Monday morning indicating the possi
bility of additional complications in Cuban affairs had a de
moralizing effect in W all Street. The markets were panicky
State and Railroad Bonds.—Sales of State bonds at the
at the opening and securities were sold in large amount at Board include $3,000 Tennessee settlement 3s at 89, $4 000
prices several points below last week’s closing. Later reports Virginia fund, debt 2-3s of 1991 at 69 and $2,COO Alabama
were less exciting, and on the handing down of a decision by class A at 1083/.
the United States Supreme Court in the Nebraska maximum
Railway bonds were weak on Monday, in common with
rate case, there was a substantial recovery. The decision re other securities. Prices on the active list were an average
ferred to was favorable to the theory that railway officials of about 2 points below those recorded at the close last week
have a right to manage within reasonable limits the prop but have since recovered a part o f the los 3. Duluth & Iron
erties in their charge, and railway securities are proportion Range are among the few issues which, on limited transac
ately benefited.
tions, close higher than last week.
Since Monday there have been no important developments,
Attention is called to the extensive list of bond quotations
but the conditions are not such as to encourage activity in on the following pages, which .we purpose to continue in the
financial circles. The foreign markets have been sensitive future.
on account of the unsettled state of affairs in the Far East,
The volume of business at the Exchange has ranged from
but sales of securities for foreign account in this market are $3,330,000 to $1,465,000 and averaged $2,380,000 par value per
about offset by purchases. The gold import movement has day. Sales of high-grade issues were nominal, a large per
been steadily going on, and shows no sign of abatement. centage of the transactions beiog in Atchison, Kansas Pacific
The amount reported as engaged for shipment thus far is Metropolitan Street Railway, Northern Pacific, Reading’
$16,585,000. There is only a limited demand for exchange, Texas & Pacific Union Pacific and Union Pacific Denver &
and as bills which have been held for investment here are Gulf bonds.
now being offered, rates have declined to the lowest point
United States Sab-Treasury,—The following table shows
recorded in many months. The money market is easier, but the daily receipts and payments at the Sab-Treasu ry:
there is not much activity.
Balances.
The open market rates for call loans on the Stock E x Date. R eceipts.
Paym ents.
change during the week on stock and bond collaterals have
Coin.
Coin Oert’s.i Ourreney.
ranged from % to 3 per cent.
To-day’s rates on call were
$
$
1% to 2 per cent. Prime commercial paper is quoted at Mar.
2,377,220
2,035,958 147,281,807 1,100,692 48,097,027
4% to 5% per cent.
3,116,580
4,330,899 147,292,599
905,949 47,066,660
2,715,241
2,198,091 147,516,364
The Bank of England weekly statement on Thursday
906,776 47,359,217
3,157,274
2,669,212 147,502,998 1,044,949 47,722,473
showed a decrease in bullion of £216,460 and the percentage
2,888,765
2,844,371 147,636,644
987,40
‘ 47,690,769
of reserve to liabilities was 43 35, against 43-02 last week; the
3,002,215
2,808,568 147,608,528 1,139,597 47,760,335
discount rate remains unchanged at 3 per cent. The Bank
of France shows a decrease of 27,750,000 francs in gold and Total.. 17,257,295 16,887,099
2,025,000 francs in silver.
Coins.—Following are the current quotations in gold for
The New York City Clearing-House banks in their state coins
ment of March 5 showed a decrease in the reserve held of Sovereigns........ $4
85 ®$4 88
Fine Silver bars.. —549I6® — 55*a
$7,934,300 and a surplus over the required reserve of $20,823,- Napoleons......... 3
85 ® 3 88
Five francs...........— 93 ® — 96
X
X
Reiehmarks.
4
74
@ 4 78
Mexican dollars.. — 44% @ — 45*9
500, against $22,959,325 the previous week.
1898.
M ar. 5.
Capital..................
Surplus.................
Loans & diso’nts.
Circulation...........
Net deposits....... .
Specie...................
Legal tenders___
Reserve held.......
Legal reserve___
59,022 700
74,259 100
628,256 ,400
13,774 ,900
706,020 ,400
120,125 ,900
77,202, ,700
197,328, 600
176,505, 100
Differen'sfr’ m
Prev. week.
1897.
Mar. 6
1896.
Mar.- 7.
Dec 13622000
Inc j
47,200
Deo. 23193900
Inc. 939,400
Dec.),8,873,700
Deo.7,931,300
Deo.5 ,798,475
59,772 ,700 61 ,122,700
74,888 ,100 73 ,833,300
502,061 ,800 464 ,488,900
16,406 ,200 13 ,983,800
577,461 ,100 488 ,884,400
85,031 700 61 ,538,100
114,860, 500 83 ,917,500
199,922, ,200 145 ,455,600
144,365, ,275122 , 221,100
Surplus reserve I 20,823,500 Deo.2,135,825
55,556,9251 23^234,500
The Clearing-House, on Oct. 30, 1897, also began issuing
weekly returns showing the condition of the non-member
banks which clear through the Clearing-House institutions.
The statement in full for the latest week will be found on
the second page following.
Foreign Exchange.—The foreign exchange market has
.scraewha- unsteady, but generally weak. Rates are
sufficiently low to admit o f gold imports, and the latter have
continued through the week.
To-day’s actual rates of exchange were as follows: Bankers sixty days’ sterling, 4
30% ; demand, 4 83%@
a on ’ ? o 6S’ ^ 34%@4 84% ; prime commercial, sixty days’
4 80@4 80%; documentary commercial, sixty days, 4 80@
4 81; grain, 4 81; cotton for payment, 4 79%@4 80; cotton
for acceptance, 4 8C@4 80%.
25 Pesetas......... 4 78
® 4 81
Span. Doubloons.15 5 0 ® 15 60
Mex. Doubloons.15 50 ® 15 60
Fine gold bars... p a r ,®*4 prem.
Peruvian s o ls .... — 40 ® — 42
English silver___ 4 82 ® 4 85
U. S. trade dollars — 65 ® — 75
Railroad and Miscellaneous Stocks.—The stock market
was badly unsettled at the opening on Monday, with
prices averaging about 3 points below last week’s close, and
in many cases at the lowest of the year. Liquidation was
heavy, sales on that day at the Exchange amounting to nearly
600,000 shares, which was more than double the amount of
transactions recorded on any other day of the week. Rail
way shares were strengthened and the market recovered
somewhat on the announcement o f the Supreme Court
decision referred to above and Cuban news of a
less disturbing character. Since Monday the mar
ket has been dull and unsteady, the daily trans
actions averaging only 370,300 shares.
There have been
few exceptions to the general fluctuation of prices from day
to day. Louisville & Nashville, Third Avenue, Manhattan
Elevated, Metropolitan Street Railway, American Sugar and
Tobacco are among the stocks which have covered a range
of 5 points and upwards; and New York Central, Burlington
& Quincy, North West., Union Pacific preferred and Consoli
dated Gas a range of 4 points or more. For full information
in regard to the prices recorded during the week of all shares
dealt in on the New York Stock Exchange, our readers are
referred to the new list of quotations on the following pages,
which we believe to be the most complete and comprehen
sive ever published, and which we shall give each week here
after.
T H E
504
N e w 'Y o r k
C H R O N I C L E .— ST O C K
S tock
E xch an ge— A
P R IC E S
W e e k ly
(3 p a g e s) P a g e
and
Y e a r ly
1.
[V ol
LXVI
R ecord.
On this and the seven pages which follow we furnish a complete record of the transactions on the N. Y . Stock Exchange. It includes
very security dealt in on the Exchange, whether stocks or bonds. The stock table is self-explanatory. As to the bonds the Friday price is
either (1) theClosing sale price where there has been a sale; or (2) it is the bid and asked price for that day, or (3) if there is no bid price on
Friday it is the latent bid and asked price for the week. The column of “ Week’s Range or Last Sale ’’ g^esthehighest andiowestprices for the
week based on actual sales; where no sales have occurred, we show the last sale previous to that week, with the date, the record in this
instance being extended back to January 1 of last year. The column of “ Bonds Sold’’ shows the number of one thousand dollar bonds sold
¿urine- the week In the column “ Ran^e from January 1 ” we report the highest and lo west prices for the year to date on actual sales.
^ O utside Securities ,” reported at the foot of each page, comprise securities not listed on the Exchange or only infrequently dealt in there»
a ueh as street railways, gas, telegraph, electric-light, and industrial and miscellaneous stocks.
STOCKS,
D A ILY AND Y E A R L Y PRICES—F O R M O N T H L Y R EC O R D S E E QUOTATION SU P P L E M E N T .
H IGH EST A N D L O W E S T S A L E P R IC E S.
Saturday.
M arch b.
Monday,
M a r c h i.
Tuesday,
March 8.
I Wednesday,] Thursday,
I M arch 9. I March 10.
--------------
STOCKS.
M arch V
\\.
N- Y - STOCK EXCHANGE.
Sales
R ange f o r yea r 1898o f the [On basis o f loo-share lots.]
Week,
Highest.
Lowest.
shares.
R a i l r o a d S to c k s .
§183 Jan. 4 186 Feb. 3
187% 200 Albany & Susquehanna.........
300 12 Mar. 11 15 Feb. 8
12
12 Ann Arbor
................... .
1,205 34 Jan. 4 40% Feb. 7
34
34%
Do
pref.
7,863 10% Feb. 24 13% Feb. 7
10% 11% Atchison Topeka & Santa Fe.
24% 25%
Do
pref. 34,202 24% Mar. 7 32% Feb. 8
6,495 12% Jan. 25 19 Feb. 3
16
17% Baltimore & Ohio...................
500
5% Jan. 19
7% Feb. 3
*6
6 % Balt. & Ohio Southwest., pref.
35 §105 Mar. 9 §105 Mar. 9
.................... Boston & N. Y . Air Line., pref.
.................... Brooklyn Elevated, tr. re o ...
37
38% Brooklyn Rapid Transit......... 54,928 36% Jan. 5 43% Feb. 18
38% 39%
38% 39%
38% 40
37
38%
39% 40%
150 28 Jan. 20 30% Jan. 6
*25
29 Buffalo Rochester & Pittsb...
*25
29
29
28
28
§27% 27% ......... 30% *27
65 Jan. 21 67% Jan. 3
*60
64
Do
pref.
64
*60
*60
64
........
64
......... 64
*61
64
7 §65 Mar. 10 §72 Jan. 10
....................
j
Burlington
Ced.
Rapids
&
No.
65
§65
3,900 80% Mar. 8 90% Jan. 20
*81
82
1
Canadian
Pacific...................
.
81
'
81
81%
81%
82% 83% x80% 80%
85
85
3,405 46% Mar. 7 57% Feb. 5
47% Canada Southern.....................
47
47
48% 48% §47
48
48%
46% 47
48% 48%
62 Jan. 4 70 Jan. 25
75 Capital Traction.......................
75
75
*......... 75
......... 75
*......... 75
11,690
89 Feb. 24 98% Jan. 7
91 Central of New Jersey............
9Ò"
91% 92%
92% 93%
91% 92%
90
92
92
92%
11% Jan. 4 14 Feb. 16
260
13
|
Central
Pacific..........................
*12
*12%
13
12% 13 13 §13 13
*12% 13% *12
173s Mar. 7 24% Feb. 1
19,115
18% 19% Chesapeake & Ohio.................
19% 20
19% 20%
19% 19%
20% 20% 17% 19
§155
Mar. 11 §166% Jan. 14
183
Chicago
&
A
lton......................
§155
155
155
159%
*155 159% §158 158
152 159
§162 162
Do
pref.
167 . . . . ; .
*168 ......... 168 .........*168
*168 ......... 166 . . . .
89%
Mar.
11 103% Feb. 11
181,716
Chicago
Burlington
&
Quincy
89%
91
92%
92% 93%
91
91% 93%
90% 92%
93% 94%
501» 52% Mar. 11 60% Feb. 1
52% 54% Chicago & Eastern Illinois...
*54% 58
*54% 58
*54
58
*54
58
*54
58
102
Jan.
7 113% Feb. 1
360
Do
pref.
105
105%
106 1 1 0
106 1 1 0
107 107 *106 1 1 0
*107 111
7,720
9% Feb. 24 16% Jan. 8
Great W estern.........
10% 11% 9% 10% 10% 1 0 % 1 0 % 1 0 % 10 10% 9% 10% Chicago
Do
4% debentures.
30 Feb. 25 36% Jan. 28
Do
5% pref. A ” ..
33
*......... 33% ......... 33% ......... 33% . . . . . . 33%
22% Feb. 16 25% Jan. 14
Do
4% pref, “ B ” ..
24% * 2 0 " 24%
24% *20
24% *20
24% *20
*20
24% *20
600
7 Feb. 24 1 0 % Jan. 14
Chic.
Indianapolis
&
Louisv.
*7
8
7%
7%
*7%
8
7%
7%
7%
8
*7
8
25 Mar. 7 33% Feb. 2
400
Do
pref.
*25
27
27
*25% 27% *25
*25
27
25
26
*27
28
89%
Mar. 7 97% Jan. 12
206,787
Chicago
Milwaukee
&
St.
Paul
92
89%
91
90%
91%
92%
91% 92
89% 91
91% 93
2.088 142% Jan. 3 149% Feb. 16
Do
pref.
145% 145% 145% 145% 145% 146 §146% 146% 145 145
*146% 148
18,585
117%
Mar. 11 130% Feb. 11
Chicago
&
Northwestern.......
117%
118
118%
119%
120 121% 117% 119% 119% 120% 119% 120% §174% 174%
170 163 Jan. 3 175 Mar. 7
Do
pref.
175 175 §176 176 I
*175 . . .
67,819
81%
Feb. 24 94% Jan. 28
Chicago
Rook
Island
%
Pacific
82
84
83% 85%
84% 85%
84
85%
84%
85
86% 83
6,145 67 Feb. 24 79 Feb. 11
67% 68 Chicago St. Paul Minn. & Om
68% 70
70% 70%
70
70%
69% 70
70% 70%
§148
Jan.
5 155 Feb. 28
Do
pref.
150
155
150 156 *150 155
150 160
*150 160
150 160
9% Mar. 3
4% Jan. 3
720
§7%
7% Chicago Terminal Transfer..
9
*8
8 % *8
8%
8%
8%
§ 8%
8% . 8 %
2
2
%
Jan.
3 33 Feb. 5
1,885
Do
pref.
27% 28%
28% 28%
29% 30%
28
28% §29% 29% §29% 29%
4,260 27% Mar. 11 38% Jan 31
27% 28% d e v . Cinoin. Chic. & St. Louis
28% 28%
29
29%
28% 29%
28% 29%
30% 30%
125 77% Mar. 9 87 Feb. 1
Do
pref
77% 77%
§80
80
4,980 13 Mar. 7 19% Jan. 12
Cleveland
Lorain
&
W
heel...
13%
13
13%
13%
13%
13%
13%
13%
13
13%
13% 13%
47 Feb. 23 50% Feb. 9
Do
pref
48
......... 49
......... 49
......... 49
Í......... 49
Cleveland & Pittsburg, guar
169 ......... 169 ......... 169
*169 ....... *169 ......... 169 ----8 % Feb. 10
5% Jan.
1,415
6 Col. Hocking Val. & Toledo..
6
6
6%
*6 %
7
6
6
§6
6
6% 6 %
25 Feb. 9
17 Jan.
Do
pref.
25
*18
*19
25
*16
25
*18
25
*19
25
*19
26
114%
Feb. 3
108%
Mar.
7
2,761
109 109 Delaware & Hudson___
109% 110% 109% 110
110 110
108% 109
109% 110
500 150 Mar. 11 159 Feb. 5
1 5 0 % ......... 1 5 0 % ......... 150 150% DelawareLackawanna&West
*150 ....... *150 . . . . . . 150% . . . .
13
Jan.
12
Jan.
12
12
12 Denver & Rio Grande...........
*11
*11
12
*11
12
4,140 43 Mar. 7 52% Feb. 9
Do
pref
43% 44%
44% 45%
45% 45%
45% 45%
44
43
*46
47%
15%
Feb.
2
100 11 Feb. 24
11
11 Des Moines & Fort Dodge—
*11% 14
*11% 14
*11 , 14
14
14
*11
*10
Do
pref
*75 .........
*75 ......... *75 ___
*75 ___
*75 ......... *75
*2
4 Duluth South Sh. & Atlantic
*2
4
*2
4
*2
4
*2
4
*2
4
7% Feb. 5
5% Feb. 24
Do
pref
*4%
6
*4%
6
*5%
6
*4%
6%
*4%
6%
*5
6%
3,125 12% Mar. 7 16% Feb. 4
Erie............................................
12%
12%
12%
12%
13
13
12%
13
12%
12%
13% 13%
43%
Feb. 11
34%
Mar.
11
6,395
Do
1st
pref
34% 34%
35
35%
35% 35%
35% 35%
34% 35%
37% 37%
450 17 Mar. 7 21% Feb. 11
Do
2d pref
17% 17%
*17% 18%
17
17% *17% 18% *17% . . . .
18% 18%
25
Jan.
7
23
Jan.
7
*18
22 Evansville & Terre Haute...
*18
22
*18
22
*18
21
*18
20
*19
23
40 Jan. 18 41 Jan, 11
Do
pref
*36
41
*36
41
*36
41
*36
41
*38
42
*36
40
14%
Feb.
14
11%
Mar.
10
300
Flint & Pere Marquette........
11% 12
41 Jan. 28 43 Jan. 28
Do
pref
.512 21 Feb. 8 28 Mar. 5
Ft. Worth & Den. C., stamped
30
*22
28
§28
27% 28
15 Jan. 28 16% Jan. 31
Ft.
Worth
&
Rio
Grande.......
16
*14
16
*14
*14
16
16
*14
*14
16
*14
16
500 130 Jan. 12 162 Feb. 4
150 150 Great Northern, pref............ .
151 151
152 152
153 158
*153 158
150 157
Jan. 7 32% Feb. 24
§30
Green
Bay
<
fe
Western............
40
*30
40
'3 0
*30
40
40
*30
40
*30
*30
40
49 Jan. 27 49 Jan. 27
Do
debt certfs. “ A ’
6 % Jan. 25
5 Jan. 18
Do
debt certfs. “ B ”
8,293 98 Mar 7 10878 Jan. 31
98
99% Illinois Central........................
100 100
99 100% 100 100
99
100 101 % 98
s94
Feb. 18
Feb.
18
§94
Do
leased
line,
4%.
96
*90
*92
98
*92
98
*92
98
*92
*92
98
98
9% Jan. 13
7% Mar. 7
371
8 Iowa Central.............................
*7%
7%
7%
*7%
8%
*7%
8%
7%
§ 8%
8%
7%
35
Jan.
8
27%
Mar.
10
300
Do
pref.
29
27% 27% *27
28
28
28% 28%
29
*29
31
*28
6 % Feb. 2
6 Feb. 2
7% Kanawha & Michigan ............
*6
*6
7%
*6
7%
7%
*6
7%
*6
7%
*6
24%
Feb.
10
19%
Feb.
26
1,100
Kansas
City
Pitts.
&
Gulf___
21% 20% 20% 20% 20% 20% 20%
2L
21%
21
. 21
21
4% Feb. 8
3 Jan. 27
4% Keokuk & Des Moines............
*3
*3
4%
*3
4%
4%
*3
4%
*3%
4%
*3
16 Feb. 19 18 Feb. 2
Do
pref.
16
*14
16
16% *14
16% *14
16% *14
*15
16% *14
34 Jan. 31
33
Feb.
7
Keokuk
&
Western...............:.
34
*32
34
*32
*32
34
34
*32
32
34
10 Kingston & Pembroke............
*1
10
*1
10
*1
10
*1
*1
10
*1
10
885 14 Mar. 4 18% Feb. 8
14
14 Lake Erie <fc Western..............
14%
*14
§13% 14
*13% 16
14
14
14
14%
630 68 Mar. 7 76% Feb. 8
Do
pref.
68
68
§69% 69% §70% 70%, 69% 69%
68
* 69% 69%
68
170% Jan. 4 194% Jan. 29
2,034
Lake
Shore
&
Mioh.
Southern
188
188
189
188
190 190
189 190
191% 191% 190 190
60 40 Jan. 20 50 Feb. 9
§45
45 Long Island...............................
50
’ 40
50 I *40
§48
48
50
'40
*40
50
48% Mar. 1 1 60% Jam 31
49,205
Louisville
&
Nashville............
'48%
50%
50% 51%
50% 51%
50% 51%
48% 51
52% 53%
98 Feb. 24 120% Jan. 14
101% 103% 101% 103% 100% 102% 98% 10 0 % Manhattan Elevated, consol. 123,416 128%
98 101
101 104
Jan. 4 171% Feb. 14
42,560
Metropolitan
Street................
138%
140%
141 145% 141% 144% 140% 143
138 143
143% 146
6 % J an. 8
6 Jan. 8
*5%
6 % Mexican Central.. .................
*5%
6 % *5%
6%
*.T%
6%
6%
*5%
6%
1 % Feb. 7
l
Feb. 10
Mexican
National,
tr.
rects..
1%
1% *1
1% *1
*1
1 % *1
*1
1%
*1
1%
114%
Feb. 8
3,327 100 Jan. 4
102% 103% Michigan Central.....................
103% 104% 104% 105% 103% 104
*107 108% 103% 105
30%
Feb. 15
11
24
Mar.
1,000
Minneapolis
<
t
e
St.
Louis.........
24
24
26% 26% *26% 27%
26% 26%
26
26%
27
27
1
88%
Feb. 15
68 85% Jan. IS
Do
1st pref
*83% 85%
*85
87
*85
87
*85
90
§86
86
89
*85
53 Feb. 24 1 59% Feb. 15
Do
2d pref
54
55 I *52% 54% *52
*52% 55% *53
§53% 53% *53% 55
*180 ......... 180 ......... 180 ......... '180 .........*187% 200
*12
13
*12
13
13
*12*2 131a *11% 13% *12
*34
35
34% 35
§35% 35%
34% 35
36
36
11%
11%
11%
11%
11%
11%
11*2 11% 1 0 % 11
25% 26%
26% 26%
26
26%
24% 25%
26% 27%
17
17
17%
17%
17
17%
15%
17
17% 18%
*6
6%
6%
6%
6
6%
6%
*6
6 % *5%
105
107
§105
105
106
108
106 108
*106 108
These are bid and asked prices; no sales on this day.
Street R a ilw a y «.
N E W Y O R K C IT Y
B leeok St & F u l F— S tock .
■ 1st m o rt 7s 1 9 0 0 ... J&J
B ’ w ay & 7 th A v e —S tock .
1 st m o r t 5s 1904. ..J & D
2 d m o rt 5s 1 9 1 4 ... .J& J
C on 5s 1 943 — See S tock
B ’w ay S u rf 1st 5s g u . 1 924
2 d 5s in t as r e n t a l.1 905
C entral C rosstow n —S tock
1st M 6s 1 9 2 2 ........M&N
C en P k N & E R iv —S tock
, C on sol 7s 1 90 2 ........J& D
§ Less than 100 shaies.
S tre e t R a ilw a y s .
S t r e e t R a i l w a y » , | Bid.
Bid.
M e tro p o lita n — See S tock
Chrlst’p’r & 10th St-Stock 154 164
N
inth
A v e n u e —S to c k —
103
1st
m
ort
1898.......A&O
100
33
31
S econ d A v e n u e —S t o c k ...
Col& 9th A v e 5s-See Stock E xch 1 ist.
104 108
i
s
t
m
o rt 5s 1 909. .M &N
D
D
K
B
&
B
a
t
t
’y—Stock..
175
206 212
D e b e n tu re 5s 1 90 9 . J&J
1st gold 5s 1 9 3 2 ... J&D 115 117
106 110
Scrip 5s 1915.........F&A 100% 101*6 S ix th A v e n u e —S to c k .......
111 112^6
So F e r i s t 5s 1 919. .A & O
Eighth Avenue—S tock ... 320
E x ch l ist.
T h ird A v e n u e —S to c k —
Scrip 6s 1914................. 108
117 118
1st m o rt 5s 1 9 3 7 .. .J&J
42d
&
Gr
St
Fer—Stock...
320
106 107
28 th & 2 9th Sts 1 st 5 s .. ’ 96
67
42d St Man & St N A v e .. 64
200
T w e n ty -T h ird S t—S to ck .
1st m ort 6s 1 9 1 0 ..M&S 116 117
118
T>«h 5s 1 9 0 6 ..............J a J
2d incom e 6s 1915. J&J
90
173 i.77
U n io n R y — S to c k ...............
L ex Av& Pav F 5s-See Stk E xch 1
113 115
Ask. I
-STREET R A IL W A Y S , &c.
B id. A sk . 1 Street R ailw ays.
Union Railway—(Cont)—
E x c h 1 ist.
1st 5s 1942.............F&A
192
194
W estchest 1st 5s ’43. .J&J
173
168
108% 110
BROOKLYN.
106
210
195
107
112 1 Atlan. A ve., B ’klyn—
1st 5s 1909.............A&O
176
181 1
Con 5s g 1 9 3 1 ........A&O
123% 124%|
Im pt 5s g 1 9 3 4 ..... J&.T
108
B. B. &W.E. 5s 1833. AocU
300
.......... Brooklyn City—S to c k ....
103
Consol 5s 1941....... J&J.
175
2 00 !
115
108
106*6 109%
10G
85
85
200
115
201
117
THE CH RON ICLE—STOCK
March 12, li 98.J
■
¡Saturday,
M arch 5.
H IG H E ST A N D LO W E S T S A L E PRIC E S.
M onday,
M a r c h i.
*7
*7
*17
*17
Ilia 1 1 % ! 1 0 %
35% 35% ; 33
26%
26
24%
28
28 1 27
*171
173 ’■171
113
*1238
*65
33
113%
13
73
33
Tuesday,
M arch 8.
*7
*17
11% 11
34%
34%
25%
25%
27
28
173 §172%
Wednesday,
M arch 9.
*7
*7
.........
......... *17
*17
11
*11
11%
10 %
35 1 34% 35%
33%
26%
25%
26% 27
28 1 *27% 29 1 28%
172% *171 173 *171
iió
1 1 1 % i l i % i"l2 % 1 11% 113
*1 2 % 13% *12% 13
■1 2 % 13
*63
73
*63
73
*63
73
30
33
*30
30 1 *30
33
SÍ8¿%
14%
*1 1
28
*62
§13%
44%
20%
58%
187% |*Ì85
14%
15
14
*11
29%
28%
*62
66
13% 1 *12
453s
45%
2 1%
2 i%
60%
60%
188
14%
13
30%
66
14
46%
22%
61%
*186
14%
§12
*30
*62
*12
45%
22%
60%
7
........ I *17 ”
10 %
11
34% ! 30
26% i 24%
28% *27
173 *171
i ï i % i l 2% !
*123s 13
*63
73 !
*30
33
*45
50
* ïé
*66
70
*67
27
27
28%
114 115
114%
*%
*%
1%
*3
7
*3
42%
§43% 43%
*......... 67 1 64
*169
*169
*6
*6
8
17% 18
17%
4038
40
41
223s
2 1% 2 1%
*180
*180
*47
50
si
70
70
§70
30% 30%
29%
115% 114 115%
*78
1%
1%
7
*3
7
43%
42% 43%
64%
64%
64
......... *169
*6
8
8
18%
18% 1 18
41% 1 4 0 78 41%
22% *2 2 % 23%
....... *180
'1 2 1
12 2 %
63e
638
*47% 50
17
19
$7
7
56
56
25
25%
*4
5
§10
10
*20
25
*80
87
138 138
175a 17%
8%
854
27*8 28
1058 1 0 %
*184 186
25
*15
45
*38
*20
24
1 2 1 % 1 2 1 % *120
6
5%
5%
49
46% 48
17
*16
17
6%
6%
§6 %
56%
55
55%
24% 25
25
*4
’4
9%
9
8%
■ 20
25
‘ 20
*80
*80
87
132
*130 137
17
*16
17
7%
8
8%
26%
26
27
IO
9% 1 0 %
175 ISO *DO
*15
*15
25
45
*38
*38
24
*20
122 *120 122 *120 1 2 1 %
6
*6
7
*6
7
49%
48% 50
§48
49
17
17
17
16
16
7
*6 %
7
6%
6%
57% *56% 57
56
56%
26
25% 25% *25% 26
5
*4%
5
•4
5
9
9%
9%
' 8% 10
25
*20
25
*20
25
86
*80
86
*80
86
132 *130 135 *130 136
*16
17
17
16
16
8
8
8%
7%
7%
27%
27
27%
26% 27%
10%
10 % 10 %
9% 10
185
175 175
175% 175%
25
*15
25
*15
25
45
‘35
45
*35
45
*20
25
*20
25
27%
*20
51
85a
*6%
158s
97%
*23s
" 10 %
*1 %
*3
28%
20%
52%
8%
7%
15%
97 s8
2%
11
2%
6
2538
17%
48%
8
6%
14%
95%
2%
10 %
*1 %
27
18%
50%
83r
6%
14%
963g
2%
10 %
2%
26%
19%
503s
8%
*6 %
15%
27%
19%
52
83a
7
15%
27% 27%
19% 19%
52
51
8
8%
*6 %
7
15% 15%
96% 96%
2
23s
2
2%
103g 103s §10
10
1%
1%
*1 %
2%
*2
6
j i o i 102 §100 10 2 % 103 103
*120 140 *118
L40 *Ì18 140
‘ 18
18
16% 17
17
17%
70%
70
70
§70
71% 72
*126 130 *124 130 §127 127
7 34
7%
*7%
8
7%
7%
§19% 19% ‘ 17% 19
*18
19%
12 d38 ±26% 1 2 1
L24% 1 24% 126
112
112
110 % 111
111
111%
92
89
89
§89% 90
§91
90% 913s 86
90% ! 89
91%
*112
118 §114% 1143s *110 117
3%
3%
27s
3
3
2%
116% 116% I I 434 115%I 114% 114%
*514
6
5%
5
5%( *4%
1
1
*%
*%
*%
1
*1 %
3
*1 %
*1%
3
2%
20
20%
19% 19%
17% 19%
78
78 *........ 78
*5.
*5 %
6%
*5
6
6%
175
*160
*165 .........
181% 183
180 181%
178% 180
30
:0
30
§32% 32%| 30
*87
90
87
87
87
87
*41
*41
*41 .........
129 133
106% 106%
.................... )130
31%
30%
*92
*44
47
30%
28%
*92
§47
§45%
32%
31
97
48
47 1
31%
29%
97
47
45%
130
31% 32%
29% 30%
......... 99%
*44
48
48
48
•46
*67
:-0%
114 *%
‘3
41%
62
*169
‘6
17%
40
2 1%
*180
26
18%
50%
8
*6%
15%
9 6.
2
*938
1%
*2
32%
31%
3034 30
.........
99
48
*45
51
46
* These are bid and asked prices; no sales on this day.
OUTSIDE SECURITIES (G iven
Street Railwnvs.
B id. A sk.
B ’ k lyn C.& N ew t’n — stock 185
5s 1 9 3 9 ...................... J&J 114
116
B k ly n C ro s s tn 5 s l9 0 8 . J&J 104
B ’ k lyn E lev a ted —See Sto ck E x .L ist.
B k ln H g t s ls t 5s 1941 A&O
B Q nsC o.& S.— 1st 5 s .l9 4 1 105
108
B k ly n R ap. T ran .—See Sto ck E x. L ist.
C on ey Isla n d & B rook lyn . 140
1st 5s 1 9 0 4 ............... J&J 103
107
5s e e rtfs in d b tl9 1 0 .J & J 100
102%
G ran d St & N ew tow n—Stk
K in g s Co. E le v a t.—Stock
2%
B on d s— See S tock E xch . L ist.
27%
18%
513s
8%
7
15%
96
2%
11
1%
6
103 §102 104
140 *118 140
17%
17
17%
70%
71
71%
125% *122 127
‘ 7%
7%
7 7s
19% *18
20
iv 6 % 123% 125%
112
§113 113
89% §89% 89%
9238| 92% 95
L17_ §113% 113%
2%
3
2 78
116
114% 114%
*5
6
6
1
*%
1
*1%
3
3
20
*19
21
......... 78
78
*5
7
*5%
5%
*165
‘ 16.5 .........
181% 182% 181 182
*30
32
29% 30
§873s 87% *85
89
*41
*41 .........
56% 56%
*45
*46
R a il r o a d S to c k s .
1 0 % Missouri Kansas & T exas___ 1 2,505! 10% Mar.
33
Do
pref. 1 12,56l| 30 Mar.
253g Missouri Pacific........................ 1 20,4231 24 Feb.
29 Mobile & O hio..........................
540 27 Feb.
173 Morris & Essex........................
40 §167%Jan.
1 1 0 % 1 1 1 % New York Central & Hudson.
§12
12 |New York Chicago & St. Louis
73
*63
Do
1st pref.
32%
*29%
Do
2d pref.
K in g s Co T ra ctio n —S tock
N assau E le c 5s 1944. A& O
N Y & Qus C o 5s 1946. A & O
S teinw ay 1 s t6 s 1922. J &J
O T H E R C IT IE S .
B a ltim o r e T r a c t—S t o c k ..
B rid g e p T r - l s t 5s ’ 23. J& J
B u ffalo S treet R v —S tock .
1st c o n s o l 5s 1 9 3 1 .F & A
C rosstow n 5s 1932M & N
C h ica go C ity R R —S to c k ..
C itizen s’ St (I n d ’n ap)-S ee
C levelan d C ity R y .............
11,796 1 16% Mar. 11
24,174 [ 38% Mar. 11
3,058 20% Mar. 11
23
1 2 1 % Rome Watertown& Ogdensb.
6 St. Jos. & Gd. I si., vot. tr. ctfs.
48
Do
1st pref.
16
Do
2d pref.
6 % St. L. & San Fr., vot. tr. ctfs.
56%
Do
1st pref.
25
Do
2d pref.
5 St. Louis Southwestern..........
9
Do
pref.
25 St. Paul & Duluth.....................
81
*128 135 St. Paul Minn. & Manitoba...
15% 16 Southern Pacific Co.................
7% Southern, voting trust, certif.
7%
25% 26% Do pre f., voting trust cert.
9%
9% Texas <& Pacific........................
172% 175% Third Avenue (N. Y .)..............
*15 . 25 Toledo & Ohio Central............
*35
45
Do
pref
Mar. 11
Feb. 21
Jan.
Jan.
Jan.
Feb.
Jan.
26
28
28
7
14
Jan.
Jan.
Jan.
Jan.
28
31
31
29
§123%Feh.
§Í95%Feb.
18% Feb.
18 Jan.
38 Feb.
65 Jan.
17 Feb.
56% Feb.
28% Jan.
69 Jan.
16
2
2
5
11
28
7
7
31
31
54% Feb.
72% Jan.
33% Feb.
120% Feb.
1% Feb.
5% Feb.
46% Feb.
71 Feb.
171% Feb.
1
20
17
7
11
11
7
7
11
119%
15%
76
40%
23%
54 %
29
§ i R4
Jan. 6
Feb. 3
Jan. 6
Fp.b 1 5
Ffth 1 1
125 |§Í20%Feb.
850 1 5% Mar.
1,906 1 45 Feb.
607 1 15 Mar.
955 ¡ 6 % Mar.
3,700 1 53% Jan.
2,750 22% Feb
14 §123 Jan. 4
7
8 % Feb. 11
24 58 Feb. 10
11 22% Feb. 11
11
7% Jan. 8
24 58% Feb. 7
24 28 Feb. 8
5 Feb. 1
840 1 8 % Mar. 7 11 Jan. 27
1 80%
300 123%
1,600 15%
4,467
7%
16,027 1 25%
7,470
9%
1,380 164
Feb
Jan.
Mar.
Mar.
Mar.
Mar.
Jan.
23
12 138
11 22
11
9%
11 33%
11 12%
5 194%
§15
§28% Feb. 8 §40
1 6 ^ Jan. 12 19%
Mar.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Jan.
5
12
10
11
15
16
10
10
31
26%
18%
50%
7%
6H
15%
Un. Pac., tr. reo., all inst. pd. 38,950 25% Mar. 7 36% Feb. 1
Union Pacific Ry......................
2,548 17% Mar. 7 22% Feb. 25
Do
new pref. 145,574 483a Mar. 11 633a Feb. 2
Un. Pac. Den. & Gulf tr.rects. 17,205
6 % Jan. 5 10% Feb. 18
Wabash.......................................
280
6 % Feb. 24
7% Jan. 12
Do
pref.
7,565 14% Mar. 7 19% Jan. 13
1,400 95 % Mar. 7
2 J an. 5
3,795
3% Jan. 11
*1 78 23s Wheel. & L/Erie, $1 ass’tp d .
*9% 1 1
Do
pref. do.
9% Jan. 4 16 Jan. 12
425
2 %. Wisconsin Cent., vot tr. ctfs.
360
% Jan. 6
3% Jan. 17
*1 %
6
*2
5 Feb. 5
5 Feb. 5
M is c e lla n e o u s S to c k s.
L02 Adams Express........................
§102
918 100 Feb. 15 §180 Feb. 10
L40 American C o a l........................
*118
16% 17 American Cotton O il.............
i ,755 16% Mar. 7 23% Jan. 10
69
70%
Do
pref.
1,554 69 Mar. 11 77% Feb. 1
§125 125 American Express...................
45 §116 Jan. 5 130 Feb. 14
7 American Spirits M fg............
7
6 % Jan. 20
2,236
9% Jan. 26
18
18
Do
pref.
324 18 Jan. 3 2238 Jan. 31
122% 124% American Sugar Refining___ 295,251 120% Feb. 24 145 Jan. 7
112% 113
Do
pref.j
1,353 110 Feb. 21 116 Jan. 6
*
90 American Telegraph & Cable
282 §89 Mar. 9 §93 Feb. 11
92% 91% American Tobacco...................| 88,589 83% Jan. 24 95 Mar. 10
112% 113
Do
pref.L
335 112% Mar. 11 118% Feb. 18
2% Bay State Gas...........................
2 7s
6,245
2% Feb. 24
5% Jan. 21
113% 114% Brooklyn Union Gas............... 1 1,620 113% Mar. 11 125 Jan. 24
4 78 4% Uruns wick Co., 3d instai, pd. ■ 450
3% Feb. 23
6 % Jan. 3
*%
1
Colorado Coal & Iron Devèl..
% Jan. 10
% Jan. 28
3
*2
Do
pref.
20 Colorado Fuel & Iron..............
*19
650 17% Mar. 7 26% Jan. 11
78
5%
5% Columbus & Hock. Coal & Ir.
400
5 Feb. 24
7% Jan. 13
‘ 160
179 180% Consolidated Gas Co. (N. Y .).
8,978 176 .Tan.
195% Jan. 25
*29% 30
Consolidated Ice.......................
676 29% Mar. 10 37% Jan. 24
87
Do
pref.
262 85 Jan. 7 91 Feb. 15
*41
.......
6,4-5 Feb 14 6,4.5 Feb 14.
fíOSg Ffth. 14
400
8 35 .Tan. 20
Edison Electric Ilium. (N. Y.)
10 127^3 Jan
100 106% Mar. 5 I I I Feb. 8
33%
30%
99%
48
46
31
30
*45
47
32
30
99%
48
47
General Electric................
lawaiian Commerc. & Sugar
I . B. Claflin Co .
Homestake Mining.................
.llinois Steel.............................
9,746
3,760
10
625
30% Mar.
28% Mar.
44
46
7
7
39%
36%
92%
Feb. 1 46
Feb. 25 55%
Feb.
Feb.
Feb.
Feb.
Jan.
7
15
10
24
29
§ Less than 100 shares.
at foot op
Street R ailw ay s.
7
7 14%
11 41
24 35%
24 32%
4< 175
63,149 1053s Jan. 3
50 12% Feb. 24
73 Feb. IS
600 30 Mai. 7
§320 Jan. 5
121 .Tan 4
110 ¡§178% Jan. 7
9,183 14% Mar. 7
10| 8 Jan. 8
1.000 23 Jan. 1C
65 Jan. 28
1461 14% Jan. 25
14,665 44% Mar. 7
54,153 19 Feb. 24
110,748 58 Jan. 5
IIP
: OCI 35% Jan. 7
21C 1 67% Mar. 11
1,97( t 1938 Jan. 3
9,031 ¡111% Feb. 24
% Jan. 7
4 Feb. 28
8,650 38% Jan. 5
1,22C 62 Mar. 10
§168 Feb. 25
*118
6
48
15
6%
5,5%
24%
*4
9
*20
*25%
18%
483s
7%
6%
15
filo Mar. 1 '
9.an
50
45% 45% Or.RR.&Nav. Co. vot. tr. ctfs.
70
67% 67%
Do pref., vot. trust ctfs.
30%
29
29 Oregon Short Line...................
114% 112% 113% 1Pennsylvania............ ............. .
1%
1 % ¡Peoria Decatur <&Evansville
*%
7
*3
7 ¡Peoria & Eastern..................
44
43
43% Pittsburg Cinn. Chic. & St. L.
62
62
62
Do
pref.
......... *166
8
8 Pittsburg & Western, pref...
18
16% 17% Reading, voting trust certifs.
40%
38% 40
1 st pref., voting trust certs.
22
20% 2 1 % 2d pref., voting trust certs.
. . . . i . *180
§101%
*118
17%
70%
§125%
7%
19%
12434
111%
§89
9 1 34
*113
2%
*114%
*5
*%
*1 %
20
32
30
1
187% §186 186 i§186 186 NewYork New Haven & Hart.
1434 15
14%
14% 14% ¡New York Ontario & Western.
12
*11
13
% 1 % 13 ¡New York Susq. & West., new
31
30
30
29
29
Do
pref.
66
*62 . 66
*62
66 ¡Norfolk & Southern...............
15
§13% 13% §1378 13% Norfolk <feW estern.................
46%
45% 45% ! 44% 45%
Do
pref.
23
22
2 2 % Ì 20% 2 1 % Nor. Pacific Ry.,voting tr. ctfs.
6134 59% 61
58% 60%
Do
pref.
1514 15%
*12
14
*31
33
*62
66
*14
15
47% 47%
2 2 % 23%
61% 62%
7
7
*47% 51
68
68
*29
29%
*11554 116%
*1
1%
*4
7
*44
45
*65
67%
*169
*6
8
185« 18%
415^ 42%
223a 2 2 %
*180
R ange fo r yea r 1898.
toe-share lots.
Week. ■
-------------------Lowest.
Highest.
Shares .
Sales
STOCKS.
N. Y. STOCK EXCHANGE.
Thursday,
Friday,
M arch 10. I M arch 11.
505
PRICES (3 pages) P age 2.
—— -------- —----------- — ---------------
8 consecutive pages ).— STREET R A IL W A Y S , &c.
B id.
48
100
A sk.
50
103
115
117
23
100
80
109
107
238
P h ila
60
105
82
111
109
list.
K........
S tre e t R a ilw a y s .
C level C ab-1 st 5s ’ 0 9 . J& J
C levelan d E le c tr ic R y . . . .
C on 5s 1 9 1 3 ........... M&S
C olu m bus (O h io )—S tock .
C on 5s 1 9 3 2 ............. J& J
C rosst’w n - ls t 5 s ’ 33J& D
C on sol T r a c t ’n (N J ) —See
L a k e St (C h ie )E le v -S to ck
1st 5s 1 9 2 8 .............. .J&J
L o u is v St R y —5 p c s c r ip .
C o m m o n ........
P r e f e r r e d .....................
L o v e .Elect T ra c (C h ic). ■•
B id .
100
50
101
A sk.
102
53
104
94
95
[
S tre e t R a ilw a y s .
L y n n & B o s -ls t 5s ’ 24.J& D
1st 5s 1 9 4 2 ...........F & A
N ew O rleans T r—C o m ___
P h ila l is t ..
12%
N otes 6s 1 904 ....M & N
N orth C hicago—S t o c k .. . .
1st 5s 1 9 0 6 -1 6 ..... .J& J
45 ’ 5Ó
• 95
100
P r e f e r r e d ..........................
P r o v & P a w t’ c k - l s t 5s ’ 33
R ich m R v & E le c -ls t 5 s’ 20
B id. A sk .
101% 1 02%
51
52
2%
12
3
15
75
222
104
12
76
106
76
105
14
78
THE CH RONICLfc
506
— STOCK PRICES (3 pages) P age 3.
H IG H E ST A N D L O W E ST S A L E PR IC E S.
Saturday,
M arch 5.
M onday,
M arch 7.
Tuesday,
M arch 8.
Wednesday,
M arch 9.
Thursday,
M arch 10.
F riday,
M arch 11.
Range f o r y ea r 1898.
[On basis o f 100 share lots.]
STOCKS.
N. Y . STOCK EXCHANGE.
Highest.
Loioest.
m is c e lla n e o u s S to c k s .
42 Laclede Gas (St. Louis)..........
41
42
*40% 41% *41
433ft 40% 407r 40% 41
42
Do
pref.
90
*88
90
91%
90
'8
8
§91%
90
*88
90
'8 8
7 Manhattan Beach Co..............
*4
*5
*5
*5
7
7
7
7
*4
7
*4
Maryland
Coal,
pref................
52
*40
52
52
*40
52
*40
52
*40
*40
53
*42
Mergenttaler Linotype.........
140 140
Michigan Penins. Car...pref.
**6*i% *6*2% Minnesota Iron........................
*60% 62% * 6 0 "' 60* " 6 Ô " 60* *62** *62** *02*’ 63
30 National Lead............................
315ft 315ft 31% 31%
29
30% 31
29% 31
31%
31
Do
pref.
102 % 103%
103% 10278 L03 §105 105% 104 104
103
6105 105
17 National Linseed Oil............ .
*15
17
17
*15
16%
*15
17
*15
16%
)8
§18
7 National Starch........................
*5%
7
*5
*5%
7
*5%
7
7
*5
7
*5%
Do
1st pref.
75
*65
75
*65
75
*65
*65
75
*60
70
670
Do
2d pref.
25
*18
25
20
*18
20
*18
*18
30
28
*18
New
Central
Coal..................
8
*6
8
*7
8
*7
8
'7
8
*7
8
*7
N. Y . Air Brake......................
53ft 5% North American Co................
55ft
55ft
5%
5%
5 7fi
5%
5%
55g
5%
5*3
Ontario Silver.
...................
*3
*3
5
*3
5
§3
3
5
*3
*23% 26 Oregon Tmp’t, 5th instal. pd.
25% 25% *25% 26% *24% 26
27%
*25
27
27
Pacific
Mail..............................
26%
25%
23%
24%
25%
25%
26%
25%
26
24%
26% 27
Pennsylvania Coal........ . .........
*330
*330
*330
*330
*330
905ft 915ft 91% 92%
89
*90% People’s Gas-L. & C. (Chic.)..
897a 91%
91
89
91% 92%
175 175% 171% 175 Pullman’s Palace C ar............
174 176 § 1 7 f 177
6177 177% 174% 175
2 Quicksilver Mining..................
*1%
*1%
2
*1%
2
2
*1%
2
*1%
2
*1%
Do
pref.
*3
7
*3
*3
7
7
7
*3
7
7
*3
*3 ’
*54% 55% *54% 55% Silver Bullion Certificates...
Standard Gas (N. Y .) ..............
Do
pref.
3% Standard Rope & Twine.........
3%
35ft
§4
4
3%
3%
35ft
3%
4
3%
4
Tennessee
Coal
Iron
&
R
R ...
195ft
19%
20%
20%
187s
20%
20%
20
19% 20
20%
20
Do
pref.
Texas Pacltio Laud Trust___
42
*41
45
45 United States Express....
§42
*40
44
§44
45
*40
42
42
6% United States Leather............
6 7a
6%
6%
5%
6 7p *6%
6%
6%
6%
6 7ft
*6%
605ft
Do
pref.
605ft
60%
60%
60%
59
60%
60%
6
0
‘s
59%
60% 61
16% 16%
15% 16% United States Rubber............
17
*16% 17%
17
16% 17
Ì7 " 17%
Do
pref
64
62%
65%
63%
66%
66%
67%
§67%
65%
65%
67
67
*115 i£o §115 115 *115 120 »115 120 *115 120 §119 119 Wells, Fargo & Co...................
Western Gas (Milwaukee)__
9
7%
7% I *7%
9 Western Union Beef.............. .
9
*7%
*7%
9
*7%
9
*7%
865ft1 85
86
86 Western Union Telegraph—
86% 87%
85% 87
865ft 87% l 84% 86%
* These are bid and asked prices; no sales on this day.
[Vol LXVI.
433s Mar.
5
Feb.
§51
145% Feb.
§54 Jan.
65 Feb.
3778 Jan.
IO912 Feb.
19 Jan.
9 Feb.
80 Jan.
30 Jan.
8*4 Feb.
26 Jan.
638 Feb.
314 Jan.
3013 Jan.
3238 Feb.
§350 Feb.
99*3 Feb.
189% Feb.
2% Jan.
2
10
29
9
7
10
14
10
18
27
7
24
17
4
22
4
25
11
11
7
3,460
3914 Feb.
Feb.
4 Jan.
§50 Feb.
100 140 Mar.
§54 Jan.
2,820 57 Jan.
3,143 29 Mar.
1,794 I0 2 7g Mar.
150 16*2 Mar.
8% Feb.
32 75 Jan.
30 Jan.
7 Jan.
23 Jan.
8,840
4 >4 Jan.
30
3% Jan.
1,400 ||19 Jan.
7,437 23 % Mar.
§350 Feb.
62,347 8838 Feb.
2,840 171% Mar.
2 Jan.
10 92
9413 Jan. 14
514 Jan. 24
5613 Feb. 24 5 6 I3 Feb. 24
14313 Jan. 21 §147 Jan. 24
1,486
5,781
314 Jan. 3
18 78 Mar. 11
5% Jan.
165 40 Jan.
2,071
5% Mar.
8,915 59 Mar.
2,170 15 Jan.
4,010 6219 Mar.
36 §113 Jan.
86 Jan.
300
7!s Jan.
27.434 84% Mar.
53g Feb. 16
28% Jan. 11
6% Jan. 8
§45 Feb. 9
7% Feb. 7
67 Jan. 3 i
2178Feb. I 5
7438 Feb. I 5
§120 Feb. I 4
86 Jan. I 7
8 Jan. I 3
733ft Jan. 1 a
0 Tuird instalment paid.
NEW YORK CLEARING-HOUSE WEEKLY BANK STATEMENT.—m R P R IC E S B A N K ST O C K S S E E P A G E 511.
NON-MEMBER BANKS.—A verages FOR WEEK TO M arch 5 , 1598»
CLEARING-HOUSE BANKS.—A verages for w e e k to M ar . 5,1898-
s!
lì
o
Banks .
(00s omitted.)
Sur p i'8 Loans.
Specie.
L egats, jDeposits.
Bank of New York.. 82,000,0 81,867,4 £14,540,0 £3,290,0 $1,490,0 $15,670,0
2,050,0! 2,100,8 15,050,0 2,579,0| 2,143,0 17,413,0
2,000,0! 1,031,9 12,649,1 2,290,9! 2,060,2 15,382,3
9,384,0
2,000,0 1,981,8 9.261,0 1,593,01 1,894,0
America................... 1,500,0 2,697,2 18.351,3 3,591,0 2,528,8 21,847.2
509,0 3,883.0
488,0!
1 ,000,ol
230.3 4,021,0
1 ,000,0 3,867,3 65,289,9 19,910,2 5,279,9 85,516,9
City..........-.............
629,4
3.731,8
352,5|
750,0
3,523,8
113,3
300,0 6,988,4 23,806,3 5,691,6 i 4,200,9 26,253,4
490,3
894.6
5.473,4
4,818,9
600,0
163,9
Merchants’ Exch’ge
1,257,7 6.168.7
7,078,6
801.6
1 ,000,0 1,710,4
Gallatin.............. .177.6
219,1
1.319.8
165,7
1,179,3
300.0
Butchers’* Drov’rs’
295,0 2,140,0
2,060,0
210,0
400.0
228,5
Mechanics’* Trad’s’
178.7
880,0
108,31
828,0
163,4
200.0
645,7
437,5
3.294.4
477,9
3,262,7
600,0
Leather Manufac’rs’
602,6 2,371,0
346,2;
300,0
99,1
1.041.5
639.3 2,885.3
229.0
3,476,4
495,7
State of New York.. 1 ,200,0
3,164,0 20,745,0
25,808,0 2,527,0
0
American Exchange 5.000. 2,585,9
1,921,4 20,472,7
26,058,2 2,917,4
0
Ojommerce. . . . . . . . . . . 6.000. 3,527,5
305.4
5,489,0
890.0
1,000,0 1,565,8 6,277.0
9,688,3 1,073,6 1,609,2 10,492.6
1 ,000,0 1,005,8
636,6 2,989,3
431,4
465,4
2,449,5
422,7
836,0 17,606,7 3,376,7 2,661,6 20,859,6
1,500,0
778,1
829,7
6,233,4
6,211,0
980,3
450,0
394,6 2,314,0
132,0
1,853,6
250,8
200,0
People’s ----- --------551,5 11,400,6 1.876.7 1,091,7 12.976.7
700,0
North America........
1,000,0 2.219,6 28,068,9 6.013.7 4,453,6 36.492.8
794,4
2,901,0
265,0
3.255.0
348,8
500,0
194,7 2,593,6
2,434,2
409,8
377,1
600,0
542,1
2,401,1
3,094,9
215,8
264,3
500.0
747,4 5,401.9
5,310,3
645,0
998.1
900.0
Market & Fulton...
375,9
3,916,1
632,5
163,7
3,616,7
S hoe* Leather...... 1 ,000,0
825,0 10,177,0
8,967,2 1,705,6
Corn Exchange....... 1 ,000,0 1,314,0
669,8
221.1
5,475,5 1,086,0
6,475,7
1 ,000,0
173,1
305,0
1,823,0
1,860,0
300,0
406,3
1.524.0 26.254.0
Importers’* Trad’ra 1,500,0 5.587.5 25,274,0 5.329.0
2,000,0 3.240.5 38,969,7 9.098.0 2.469.0 46.261.0
118,0
1,193,8
1,313,3
175,5
148,4
250,0
Fourth................... 3,200,0 2,033,6 21,367,7 4,178,5 2,322,8 23.089.0
1,198,0 13.056.0
488,2 10,190,0 2,331,0
1 ,000,0
770,C 6,315,0
5,339,0 1 ,010,0
695,0
300,0
276,C 3,739,5
531,0
3,551,0
281,8
750,0
Ninth.......................
600,0 Y,557,0 30,231,8 4,720,8 2.230,5 29,739,9
173,3
1.269.0
66,9
1,350,1
186,3
300.0
N. Y. Nat’l Exch’ge.
522,0 3.552.0
428,0
3,029,0
618,8
250.0
317.2
3,859,5
634,4
3,135,7
420.6
200,0
New York County..
242,1
434,7
2,674,4
2,798,5
750,0
285.7
German American..
1 ,000,0 1,068,3 22,376.6 6.887,3 4,767,8 31,819,5
748.3
9,581,6
8,127,1 1,811,5
100,C 1,118,1
521,7
2,952,4
2,386,2
161,4
570,7
200,0
German Exchange.
560,4
4,698,2
3,614.4
711,4
506,9
200,0
884, S 7,380,3
690,i
6,556,1 1,110,8
300,C
595,;
6,287,0
930,4
5,272,0
827,1
200,(
194,0
407,5
2,157,8
307,i
1,807,7
200,(
Fifth........................
990,7
6,714,8
5.188.0 1,061,5
816,8
300.0
' Bank of the Metrop
471,0
2,569,0
2.328.0
341,1
247.0
200.0
335,5
9.179.0 1,797,0 1,541,0 11,700,0
500.0
Seaboard................
236,0
342,2
232,0
1,553,0
1.760.0
200.0
glxtli.......................
048,7 26,144,2 3,232,0 4,283,2 30.366,6
Western................. 2,100,0
780.0
444,6
5,003,0
5,077,0
946,9
300.0
First Nat. B’klyn..
647.1 13,104,3
847,6 12,130,4 2,641,2
Nat. Union Bank.. 1 ,200,0
549,0
344,9
3,287,6
3,082.5
302,0
600.0
649,8
326,0; 3,546,6
314,6
3,908,1
N. Y. Prcd. Exch’ge 1 ,000,0
557, tfj
201,8j 2,961,7
277,5
2,707,4
250,0
Bk*of N. Amsterdam
T otal.................... 159,022,7 74,259,1 628,256,4 1201259 77,202,7.706,020,4
OUTSIDE SECURITIES (G iv e n
B id. A sk.
19
15
98
C on 5s 1 9 3 0 ..........A & O
10
8
S cra n ton T r a c t io n .............
So S id e E l (C h ic)—S tock .
40%
20
14
T w in C ity R T r—C o m .. . .
100
Preferred....'...............
62
59
U n ’ d Tr&Elec(Prov)-St’k
107
1st 5s 1 93 3 ............. M&S 105
W e s t C hicago S t .................
06%
C on 1 9 3 6 ................ M &N
W e s t E n d —See B o sto n E x e h 1 ist.
18
16
W o r c e s te r (M a s s)T r-C om
06
93
i P r e f e r r e d ..........................
Street R a ilw a y s.
Rochester R y ........... ¡'.........
at foot of
Gas Securities.
B id.
N E W YO RK .
215
C entral G a s ....................
C entral U n io n Gas—
1st 5s 1 9 2 7 ................J& J 102%
109
C on sol d e b e n tu re 5 s —
C on G as (N Y )—S tock —N Y S tk
D e b 5s 1 9 0 8 ........... M&N 108
E q u it G as (d e p )—S t o c k .. 215
1st 6s 1 8 9 9 ............. F & A 102%
C on sol 5s 1 9 3 2 ... .M&S 115%
310
M u tu al G as......................
30%
N ew A m s t G as—C om m on
06
D o p r e f .............. ..........
BANKS.
(00s omitted.)
C api
tal.
S ur
plus.
Legal
Inv st- Specie. Tend’r
&B’k
vients.
Notes.
Loom*
Deposit, with
O ear-
ing
Net
O th er
Bks. &
H o u s e Trust
A g e n t. Co’s.
De
posits.
Astor Nat’l Bank..
Astor Place...........
Colonial........ .
Columbia..............
Eleventh W ard....
Fourteenth Street.
Franklin National.
Gansevoort...........
Hamilton............
Hide & Leath. Nat.
Home.....................
Hudson River......
Mount Morris......
Mutual___. .. .......
Nineteenth Ward.
P la z a ..................
Riverside...............
Standard National.
State.......................
Twelfth W ard......
Twenty-third W ’d.
Union Square........
Y orkville...............
300.0
250.0 355,è
48.6
100.0
300.0 185.8
100.0 112,6
100,0 44.1
200,0 31.2
200,0 24.3
200,0 94.5
500.0 144.6
100.0 81,8
200,0 186.8
250.0 82,0
200.0 94.7
100,0 22.3
100,0 105.7
100,0 94.3
200,0 27.8
100,0 65.0
200,0 148.7
100,0 42.8
200,0 269.9
100,0 114.5
$
$
796.3 31.8 92.8 196.6
2.464.5 175.3 34.8 222.3
7.5 59.8 249.7
565,5
1.930.0 152.0 119.0 125.4
1.117.3 62.9 72.1 219.2
756.4 13.5 152.0 108,0
460.0 80,0 35.0 75.0
8,3 51.0 61.1
650.4
1.155.0 52,1 65.6 152.9
2.021.0 2 6 0 ,6 41.4 148.6
468.8 94.6 48.2 54.2
1.079.0 41.0 80.0 196.0
1.595.5 79.6 106,8 99.9
858.3 29,8 94,1 210.2
590.0 34.0 130.0 125,2
1.188.4 14.0 64.4 271.4
6,2
37.8 65,1
728,7
434.0 13.3 49.6 65,6
1.494.0 60.0 24.0 46.0
1,063,3 24.5 102,6 92.3
657.5 20.5 94.3 81.0
2.070.1 42.4 194,7 159.8
1,151,7 87.0 74.7 95.3
B edford...............
Broadway..............
Brooklyn..............
Eighth W ard........
Fifth Avenue........
Fulton...................
Kings County,......
Manufact’rs’ Nat’l
Mechanics....... .
Meoh’ 8’ & Tradr’s’
Nassau National..
National City........
North Side...........
People’s..................
Queens Co. (L.I.C.)
Schermerhom......
Seventeenth Ward
Sprague National..
Twenty-sixth W ’d.
Union....................
Wallabout............ .
150.0 110.3
100.0 115.7
300.0 165.3
100.0 31.0
51.2
100,0
200,0 180.9
150.0 78.9
252.0 398.6
500.0 426.9
100.0 189,2
300.0 581.6
300.0 574.4
100.0 108,1
100,0 106,0
100,0 117.6
100,0 58,8
100,0 66.2
200,0 220.5
100,0 51,2
100,0 48.1
100,0 31.5
945.6 29.0 58.8 117.0 85.0 1.083.3
1.270.0 30.1 113,3 55.1
1,321,5’
1,164,9 71.1 78.7 351.5
15,9 1,381,2
269.0 12.7 16.8 42.5
1,0
217.3
462.7 28.7 20.5
438.2
61,8
33.1
931.4
54.1 29,9 112.8
820.6
581,3
9.7 39.1 101.0
596.4
2.139.5 223,8 266.1 589.7
2.812.7
99.2
117,1 178.6
2.366.6
2.238.1
859.2 51.6 39,8 69.4 22.4
838.4
3.521.0 211.0 151.0 683.0 57.0 3.851.0
2.256.0 75.0 310.0 406.0 47.0 2.629.0
632.0 10.4 62,7 124.7 539,9 1.202.7
775.7 37.8 31.2 56,0 58.4
834.2
1.581.1 122.3 148,9 382.7 129,1 2.184.4
456.2 31.1 15.2 111.9
466.3
394.2
7,0 46.6 52.6
332.1
1,053,0 89.4 13.0 800.0
10,7 1.040.0
352.1
354.4
2,9
6.7 28.2 54.6
260.8
6.5 13.0 32.9 32,0
197.5
31.2 63.6
481.9 11.8
2,4
465,3
N e w Y o r k Ci t y .
Br o o k l y n .
O t h e r Cit ie s .
1st Nat., Jer. City.
Hud. Co. Nat. J. C.
2d Nat., Jer. City..
3d N a t, Jer. City..
1st Nat., Hoboken.
2d Nat., Hoboken.
Bank of Staten Isl.
1st Nat.,Staten IsL
$
$
818,8
160,0 2.756.6
818.4
20,3 1.975.1
1.381.2
945.0
450.0
601.1
4,9
1,245,9
1.524.3
9,’i 550.4
1.135.0
17*i,7 1.638.6
886.3
16,1
865.0
42,5
1.172.3
702.8
6
291.9
84,0 1.615.0
120,4 1.399.4
866.5
106,8
2.324.7
1.187.6
400.0 730.9 3,684,2 127,0 223,6 417.5 509.7 4.115.2
250.0 507.4 1,893,9 94.3 61.7 235.8 559.8 2.192.1
1.473.2
250.0 393,1 1,474,6 56.9 56.1 485.5
200.0 165.5
959.5
766.6 30.9 62.2 286,1 198.8
110,0 409.9 1,498,3
93.3 27.2 128.7 250,5 1.409.2
789.8
125.0 82,7 691,4 40.9 30,6 71,8 129,7
25,0 42.6 387.7 14.4 13.4 78.2
449,7
8
100.0 71.6 546.7 18.5 21.5 65.4
502.5
Totals Mar. 5... q, 212,0 8,4033 ¡8,68333 , 08b ,I 3.052.1 8, 832,2 3,4283 64307,7
Totals Feb. 26... q, 2i 2,o 8,403,3 ¡ 8, 187,3 3 , 126,2 3,915,7 8,043,4 3 , 647, 4 X64381,0
Totals Feb. 19... g ,g i 2,o 8 ,4 9 3 3 58303,2 2, 111,0 3 . 970.1 q,oqo,6\ 33543m ,7i7,o
j y For summaries o f the w eekly returns o f the banks in New
Y ork City, Philadelphia and Boston, see fourth page preceding.
8 consecutive pages).— GAS SECURITIES, &c .
A sk .
112
E xch
111
230
104
117%
3 25
32
68%
Gas Securities.
N ew A m s t— I s t co n so l 5s
N Y & E R iv (d e b ) c o m .
D o p re fe r r e d ............. .
I s t 5s 1 9 4 4 ...............J&J
C on sol 5s 1 9 4 5 .......J&J
N o r U n Is t 5s 1 9 2 7 . .M &N
Standard Gas—C om m on..
D o p r e fe rr e d .....................
I s t 5s 1 9 3 0 ........M & N
B id.
99
78
118
111
107
94%
139
155
110
A sk . 1
82
120
113
109
96
141
160
117
BROOKLYN.
B ro o k ly n U n Gas—N Y St o c k E x ch.
I s t c o n 5s—N Y S tock E xch .
G as Securities.
N assau G a s ..........................
P e o p le s G a s ___ .’ ................
W illia m sb u rg G a s.............
1st 0 s ..................................
O T H E R C IT IE S .
B altim o re C on solidat — Se
B ay State G as—N Y S tock
I n c o m e s ............................
B o s to n U nitedG as B o n d s B uffalo C ity Gas—S t o c k ..
1st 5s 1 9 4 7 ............. A& O
B id.
- ..
'1 0 3
A sk
105
e B alt. L ist.
E xch .
60
-B osto □.List
1 27
29
: 96
97
March 12, 1898]]
THE C H R 0 N 1 C L F BOND
BONDS, W E E K L Y
RECORD —FOR M O N TH LY RECORD SEE QUOTATION SUPPLEMENT.
PRICES (5 pages) P age 1.
507
Explanation of method of compiling prices and the meaning of each column is given in the introductory remarks on the third page preceding
BONDS.
N.Y. STOCK EXCHANGE
W e e k , E nding M ar . 11.
P rice
F rida y,
Mar. 11.
Bid.
W eek’s
B ange or
L ast Sale.
©,©
R ange
from
Jan. 1 .
P rice
F rida y,
Mar. 11.
BONDS.
N.Y. STOCKEXCHANGE
A sk. Low. High. No. Low. High
W e e k E n d in g Ma r . 11.
Bid.
Week’s
R ange or
L ast Sale.
IOsP
pqt«
R ange
fr o m
‘ Jan. 1 ,
A sk Low. High,
No. Low. H igh
k ro n & C h ic Jn c. S ee B&O.
Ches & Ohio—(Con.)—
labam a Cent. See Sou R y.
Gold 6s series ......... 1908 A - O *........128
119% Mar’98
119% 120%
A la b a m a M id 1st g u g . . .1 9 2 8
91 Jan.’98
91
91
Gold 6s........................ 1911 A - 0
..... 122% 119% 119%
119% 120%
A lb a n y & Susq. See D & H .
1st cons g 5s................ 1939 M-N 113% Sale 113% 115%
118%117
A lle g h e n y V al. See P e n n Co.
Registered................ 1939 M- N
114 Feb.’98
118 114%
A m D o c k & I. S ee Cen o f N J.
Gen gold 4%s.............. 1992 M -S
76%
Sale
76%
79
76% 84%
84% 39 82
A n n A r b o r 1st g 4 s .........1995 Qu-J
823^ 83Jé 83%
86%
Registered................ 1992 M - S
A t c h C ol & P a c. See U n P ac.
R & A Div 1st cong 4s.l989 J - J
105 104% 105
103%105
88%
A t c h T & S F e g e n g 4s . 1995 A - O 8 8Jé Sale
91 928 88% 94
2d cong 4 s ............ 1989 J - J
93%
Jan.’98
03% 98%
R e g is te r e d ....................1995 A - O
Craig Valley 1st g 5 s..1940 J - J
99% Feb.’98
95% 99
¡ Sale 56%
59%
A d ju s tm e n t g 4 s ......... 1995 Nov
5 6% 0 4%
W a r m Spr V al l s t g 5S.1941 M -S
R e g is te r e d ....................1995 Nov.
E liz L e x & B S g u g 5s. 1902 M -S
99% 100
99% 100
99%
104
E q u ip t r ser A g 5 s ___ 1902 J - J
C h ic & A lt o n sink f d 6s. 1908 M-N 112% ........ 112% Mar’98
112%112%
C h ic & St L o u is 1st 6 s .l9 1 5 M -S
L o u . & M o R iv 1st 7 s ..1900 F -A \
111 Jan.’98
A t l A v B k lyn im p g 5 s . . 1934 J - J
2 d 7 s ...............................1900 M-N
107% Nov’97
A tla n & D a n v 1st g 5s. .1 9 5 0 J - J
98 Feb.’98
95
98%
St L J & C 2d g u 7 s . . . .1 8 9 8 J - J
104% Mar’97
A tla n t a & Char. S ee S ou R y.
M iss R iv B 1st s f g 6 s ..1912 A - 0
V i t t in & N W . S ee So. P a c.
C hic B u rl & N or. See C B & Q.
i
C reek & S. See M ich Cen
C hic B u r & Q c o n 7s........1908 J - J 115 Sale 115
115
115 116%
i
& O 1st 0s P k b g B r .’ 19 A - 0 109 ........ 117 Mar’ 98
112%118%
S in king fu n d 5s.............1901 A -O *108%....... 107 Feb.’98
104% 107
G o -d 5 s ..................188 5 -1 92 5 F -A ' 04% 95% 98 Mar’98
80 103
D e b e n tu r e 5 s ............. ..1 9 1 3 M-N 105 107% 107% Mar’98
100 109
C ou p on s off...........................
C o n ve rtib le 5 s ........... . .1 9 0 8 M -S ........ 108% 107% Mar’98
107%112
R e g is te r e d ........188 5 -1 92 5 F -A
95 Feb.’98
95
Io w a D iv sink f d 5 s . .. 1919 A - 0 *109% ...
109% Feb.’98
109% 109%
E n g c e r t f o f d e p o s it ..........
90% Feb.’98
9 6%
4 s ....................................1919 A -O
103% Feb.’98
102 104
C on sol g o ld 5 s ................ 1 988 F -A
102 May’97
D e n v D iv 4 s ....................1922 F -A
97 ...
99% Mar’98
99% 101%
R e g is te r e d ....................1988 F -A
4 s ........................................ 1921 M
95 ...
98% Dec ’97
B a lt B ’lt 1st g 5s in t gu. 1990 M-N
84 Jan.’98
84
84
C hic & Io w a D iv 5 s . . . .1 9 0 5 F -A
W Y a & P l s t g 5 s ........1990 A -O
N ebraska E x t e n 4 s . . . . 192 M-N
9 5 % ........ 95%
98
95% 100
M o n o n R iv 1st g u g 5 s .l9 1 9 F -A
R e g is te r e d ....................1927 M-N
I
91 J’ly ’97
C en O h io R 1st c g 4 % s l9 3 0 M -S
99 Jan.’98
99 99
H an . & St. J o s c o n 6s.. 1911 |m ■S
119
120%
119
128
C o l& C in M I s t e x t 4 % s l9 3 9 J - J
Ch ic B u r & N o r 1st 5 s. ..1 9 2 6 A
110 109% Feb.’98
109%110$
A k & C J 1st in t gu g 5 s. 1930 M-N
C hic & E I1 1 1st s f cu r 6s. 1907
*.
117 116% 116%
116%
116$
C ou pon s o f f .........................
80 Nov’97
S m a ll.................................1907
P itts & C on 1st g 4 s . . .1 9 4 0 J - J
103% Oct,’97
1st c o n g 0 s ..................... 1984
129 Jan.’98
129 180
B & O S W I s t g u g 4 % s .l9 9 0 J - J
98% Jan.’98
98% 100
G en eral c o n 1st 5 s . . . . 1987
104“ Sale ’ 104
100
18 101%108
B & O S W R y c o n g 4% s 1993 J - J
99 Feb.’98
99
99
R e g i s t e r e d ..................1987
*104%
101 Jan.’98
1st iu c g 5s ser A . . . . 2043 Nov.
C hic & In d C R y 1st 5 s .1986
109 Feb.’98
100%109
Series B .........................2 043 Dec.
9% Feb.’98
0%
9% C h ica go & E rie. S ee Erie.
B & O S W T e r Co g u g 5 s.’ 42 M-N
.................. C hic In d & L o u is v ille
O h io & M iss 1st c o n 4s. 1947 J - J
105% Jan.’98
105% 1 05%
L o u is v N A & Ch 1st 6 s..’ 10
112
Sale 112
118
5 112 113%
2d c o n s o l 7s................. 1911 A - 0
121 Dec’97
......................
C h ic I n d & L r e f g 5 s. .1 9 4 7
* 85
88
85
85
11 88
89
1st Spr’gfleld D iv 7s. 1905 M-N
105 105
105
105 107%
R e fu n d in g g 6 s ............. 194
108 103
108
1 97 105
1st gen era l 5s............ 1932 J -D
C hic & M il. See Ch. & N W .
B e e c h C reek. See N Y C & H .
C hic M ilw au k ee & St P a u l
B el & Car. See St L A & T H
1st 7s $ g o ld R D ..........1902 J - J 141 148 148 Feb.’98
140 148
B o o n e v B ridge. See M K & T,
1st 7s £ g o ld R D . .. .1 9 0 2
*189
B w a y & 7th A v . See M e t S R y.
1st Io w a & D 7s............ 1899 J - J 141 143 140% Jan.’98
37% 140%
B k ly n C ity 1st co n 5s 1910-41 J - J .........110
115 Sep.’97
1 st C & M 7 s ....................1908 J - J *141 148 141
141
140 144
B k ly n E l T r Co c f I s t g 0 s l9 2 4
81% Sale 81%
82%
81% 87%
C h ic M il & St P c o n 7 s .l9 0 5 J - J 141 Sale 141
141
138 142%
T r C o c t fs 2 d g 5 s ........1915
1st I & D E x te n 7 s . . . . 1908 J - J 141
141 Mar’98
189% 142%
2d in stal p d .............
1st S o u th w est D iv 6 s .1909 J - J *........ Ï 21
119% Jan.’98
118% 119%
S & B B T Co c fs 1st g u g 5 s ’ 42
70% Dec’97
1st L a C rosse & D 5 s .. 1919 J - J
114% Sep.’97
2d in stal p d .........
72 .......
1st So M inn D iv 6 s ___ 1910 J - J 117 110% 119% Mar’98
118%121
U n E l T r Co c fs ls t g u g 0 s ’ 37
83
86
82%
84
82% 87%
1st H a st & D D iv 7 s ... 1910 J - J 127 180 180 Feb ’98
130 130%
B k ly n R a p T r g 5s........... 1945
93% Sale 93
94%
92
97
5 s .................................... 1910 J - J
109 Oct.’9
B k ly n & M on tau k . See L Isl.
C hic & P a c D iv 6 s ........1910 J - J 118 Sale I 118
118
118 121
93
94
B ru n s & W e s t 1st g 4 s. .1 9 3 8
C h ic & P W l s t g 5 s .... 1921 J - J 115% Sale 115% 116
115%117
B u ffalo & E rie. See L S & M S.
C hic & M o R iv D iv 5 s. 1926 J - J
114% Mar’98
114%117
B u ff N Y & E rie. See E rie.
M ineral P o in t D iv 5 s..1910 J - J
110 Jan.’98
107 110
B u ff R & P g e n g 5 s ........1937 M -S 103
106 Feb.’98
104%106
C hic & L Su D iv g 5s. .1921 J - J *
115% 118% Mar’98
118%118%
R o c h & P itts 1st g 6 s ..1921 F -A *123
127 Mar’98
127 127
; 115 115 Feb.’98
W is & M inn D iv g 5 s . . 1921 J - J *
114% 115%
C onsol 1st 0 s ............. 1922 J -D 121
128 Feb.’98
123 123
T erm in al g o ld 5 s ..........1914 J - J *115
115
115
114 115
Cl & M ah 1st g u g 5 s . . 1943 J - J *118
103 Apr’ 97
F a r & S ou assu g 6 s . . .1 9 2 4 J - J
127% Jan.’i
127%127%
B u ff & S outhw est. See E rie.
C on t sink fu n d 5 s ........1916 J - J *105
106% May’97
B u ff & Susq 1st g o ld 5 s ..1918 A - 0
D ak & G t So g 5 s ..........1 9 1 6 J - J
110%
112% Feb.’98
112%118%
R e g is te r e d ...................... 1918 A - 0
G en g o ld 4s series A . .1 9 8 9 J - J *105 Sale 105
105% 16 104%107
B u r C R & N 1st 5 s ..........1900 J -D 105 106% 100
107%
106 109
R e g is te r e d ................... 1989 Q u -J
105% Feb.’98
104%105%
C on 1st & c o l t r g 5 s ... 1984 A - 0
109 Jan.’9~
107%109
M il & N o 1st M L 6 s. .1 9 1 0 J - D
120% 122% Jan.’98
122%122%
R e g is te r e d ...................1934 A - 0
1st co n s o l 0s.................1918 J - D 122
Sale 122
122
122
123«
M & St L 1st g u g 7 s . . 192 J -D
C hic & N o r W e s t c o n 7 s . 1915 Qu-F ........ 144
141 Mar’98
141 14511
C R I F & N W 1st g 0 s ..’ 20 A - 0
108 Dec’97
G o ld 7 s . . . ....................... 1902 J - D
115%116% 115% 115%
115%116%
1st g o ld 5 s .......................1921 A -O
105 Jan.’98
105 105
R e g is te r e d ............................... 1902 J*115%
-D
115% 115%
115%116%
a n ad a S ou th 1st 5 s ... 1908 J -D 107% Sale 109
110
109 111
S in king fu n d 0 s.. 1879-1929 A - 0 *118%
118% 118%
116%118%
2d 5s.............................1918 M -S ........106% 107% 107%
107%111
R e g is te r e d ........1 879-1929 A - 0
115
N’v.’97
R e g iste re d ....................... 1913 M -S
106 Jan.’97
Sinking fu n d 5 s . 1879 -1 92 9 A - 0
111% Feb.’98
111% 111%
Carb& Shaw n. SeeStL A & T H .
R e g is te r e d ........1879-1929 A - 0
111 109% Dec’97
C arth age & A d . S ee N Y C & H .
S inking fu n d d eb 5 s ...1 9 3 3 M -N
117% 117%
117%118%
C R Ia F & N . S eeB C R & N .
R e g is te r e d ......... ..........1983 M -N
117 117
117
117 119
C entral O hio. See B a lt & O.—
25-year
d
eb
en
tu
re
5
s.
.1
9
0
9
M
-N
Sale 109
109%
109
110%
C en R R & B k g Co o f G a.—
R e g is t e r e d ..................1909 M - N
109% 108% J’ly ’97
C ollateral g o ld 5s......... 1937 M-N
91% Feb.’98
91% 93%
30-y
ea
r
d
e
b
e
n
tu
re
5
s
.
.1921
A
0
*116
116% Feb.’98
116% 116%
C ent o f G a R y — l s t g 5 s..1945 F -A
116% Feb.’98
118%119%
R e g is te r e d ....................1921 A - O
117% Feb.’98
117%117%
R e g i s t e r e d .................1945 F -A
E x te n s io n 4 s ___ 1 8 8 6 -1 9 2 6 F - A
105 Feb.’98
105 107
C on sol g o ld 5 s ............... 1945 M-N
88
90
88
92%
R e g iste re d ........ 1 8 8 0 -1 9 2 0 F - A
R e g i s t e r e d .................1945 M-N
G en g o ld 3% s.............................. 1 987 M - N *100 103
1 st p r e f in co m e g 5s. ..1 9 4 5 Oct.
39
37%
89%
37%
44%
R
e
g
iste
re
d
...............................
1987
Qu-F
2d p r e f in co m e g 5 s .... 1945 Oct.
14
12
13
12
15% E sca n & L Sup 1st 6 s.. 1901 J - J
3d p r e f in co m e g 5 s. ...1 94 5 Oct.
7%
7% Mar ’98
D es M o & M in n 1st 7s. 1907 F - A
M & N D iv l s t g 5 s . . . . 1940 J - J
92 Jan.’98
92
92
I o w a M idlan d 1st 8 s . . . 1900 A - O
M o b ile D iv 1st g 5 s .. . . 1940 J - J
95% Jan.’98
95%
C hic & M il 1st 7 s ..........1 898 J - J
102 Mar’98
101%102
M id G a & A tl D iv 5 s. .1 9 4 7 J - J
W in o n a & St P e t 2 d 7 s .l9 0 7 M -N
C en t o f N J— 1st c o n 7s. 1899 Qu-J *104 105 104% Feb.’98
104%104%
M il & M ad 1st 0 s ......... 1905 M - S
117 Jan.’98
117 117
1 st c o n v e r tib le 7 s ........1902 M-N *112
115 118% Dec’97
O tt C F & St P 1st 5 s ..1 9 0 9 M - S 108
109 Mar ’98
109 109
C on v er tib le d eb 0 s ___ 1908 M-N
110% Feb.’98
110%110%
N o rth Illin o is 1st 5 s ... 1910 M - S
108 Sep.’97
G en eral g o ld 5 s .......... .1 9 8 7 J - J 112 Sale 112
118%
110 114% M il L S & W l s t g 6 s . . 1921 M - N * 1 86 % 137% 186 Mar
’98
R e g is te r e d ...................198
186
137
Qu-S 112
113% 118%
110 114%
C o n v e r tib le d e b 5 s . . 1 907 F - A
105% Feb’97
L e h & W B C c o n as 7 s .l9 0 0 QuM
101 % 101% 103%
100 103%
E x t & Im p s f g 5s.. .1 9 2 9 F - A
118 117% Feb.’98
5 s .................................... 1912 M-N
110%117%
88
90
90
90
93
M ich D iv I s t g o ld 0 s .l 9 2 4 J - J
134% 115% Aug’97
A m D o c k & Im p Co 5 s .l9 2 1 J - J
116 Mar’98
114 116
A sh la n d D iv l s t g 6 s l9 2 5 M - S
135 Feb.'98
N J S outh in t g u ar 6s.. 1899 J - J *100
185 135
I n c o m e s .......................1911 M - N
110% J’ly ’97
C entral P a cific—
C h ic R o c k I & P a c 6 s . . ..1 9 1 7 J - J 180 Sale 130
180
S peyer & Co c t fs dp A .1 8 9 8
180 180
108 Feb.’98
108
103
R
e
g
i
s
t
e
r
e
d
..................1
917
J
J
180 131 Feb.’98 10 181 131%
S peyer & Co c t fs B C D . 1899
108 Feb.’98
103 103
E x t a n d co lla te r a l 5 s .. 1984 J - J *105% Sale 105% 105% 462 105% 100%
E x t g 5s series E ......... 1898
103 Feb.’98
102 103%
R e g i s t e r e d ..................1984 J - j *105%...... 105% 105% 40 105 100
S peyer & Co c t fs dep E. 1900
D e b e n tu r e 5 s ..................1921 M - S 104%105% 105% 105% 28 105%108
S pey er & Co c t f F G H I.19 0 1
R e g i s t e r e d ..................1921 M - S
San J o a q u in B r g 0s. ..1 9 0 0
105 Feb.’98
105 105
D es M & F t D 1st 4 s . . 1 905 J - J
"9 2 " Feb’98
85
92
G u aran teed g 5s........1939
1st 2 % s ......................... 1905 J - J
70
70 Feb.’98
09% 70%
S peyer & Co en g c t s .............
E x te n s io n 4 s ............. 1905 J - J
80
83 Mar’97
L a n d g ran t g o ld 5 s ___ 1900 A - 0
100% Feb.’98
K e o k & D es M 1st 5 s.. 1928 A - 0
108%Feb.’9S
105%109
C & O D i v e x t g 5 s . . . . 1918 J - J
101 Jan.’98
S m a ll............... .........|.......... . A - 0
100 Apr
W e s te r n P a cific g 6 s. .1 8 9 9 J - J
103 Feb.’98
101%103
C h ic & St L . See A t T & S F.
N o o f Cal 1st g u g 6 s. .1 9 0 7 J - J
C h ic St L & N O. See 111 Cent.
G u aran teed g o ld 5 s .1988 A -O 102
102
102%
102% C hic St L & P itts . S ee P a Co.
C en tW a sb 1st g 0s tr c t f s l 938
40 Feb.’98
40
40
C hic St P M & O c o n 6 s . . 1980 J - D *184
135 Mar’98
185 138
C harles & Sav 1st g 7s. ,1930 J - J
Ch St P & M in 1st 6 s .. 1918 M - N *182
132 Mar '98
181%183
C hes & O—P M fd gs 0s. 1898 J - J 101%
1101% Jan. 98
101% 101%| N o r W is c o n s in 1st 6 s ..1 9 3 0 J - J
A
A
¿2
......no%
'......no%
110%111*
100 ...
O
,
M
101 101
.....
....
C
7% 8%
1
100%100%
101 101
100
* No prices or sales on Friday; these are atest bid and asked prices this week.
OUTSIDE SECURITIES (G iven Tiras Securities,
Bid. Ask.
Burlington (la) Gas—Stck
Chartiera Valiev Gas......
Chicago Consumers 1st 5s 102 104
Chicago Gas—See N Y Sto ck Ex ch.
Cicero Gas Co 1st 6s.____ 100 102
Cincinnati Gas & Coke...
City Gas (Norfolk Va)....
36
88
100 104
Columbus (O) Gas—Stock 85
89
1st 5s 1932.............J&J 100 102
Consolidât Gas (Balt) See BaltL ist.
Consolid Gas (N J)—Stck 16
20
at foot of
G »s Securities.
Bid. Ask.
Consol Gas N J—(Coni.)
Ist 5s 1936............ J&J 75
80
Consum Gas (J City)—Stk 74
78
Ist 6s.................... M&N 102 105
57
60
Consol 5s 1918__ F&A
91
94
97%
Denver Consolidated Gas
Fort Wayne (Ind)—Stock 78
81
Ist 6s 1925.............J&J 89
91
Grand Rapids—Stock......
74
75
Ist 5s 1915........... F&A 100 102
Hartford (Ct) Gas Light.
8 consecutive pages).
■CAS SECURITIES, &o.
Gas Securities.
Bid. Ask.
Indiana Nat& 111Gas—Stk 58
62
, 1st 0s 1908............M&N 72
75
Indianapolis Gas—Stock. 115 125
1st 6s 1920............M&N 106
Jersey City Gas Light__
Laclede Gas—N Y Stock Exch.
Lafayette (Ind) Gas—Stk 78
1st 6s 1924............M&N 90
Loganspt & Wab Val—Stk 57
1st 6s 1925 ........... J&D 74
Louisville Gas Light......
Madison (Wls) Gas—Stck 60
64
1st 6s 19 ........i .A&O 99 101
Gas Securities,
Bid. Ask.
Memphis Gas.................
Minn Gas 6s 1910__ M&£
New Orleans Gas Light..
Ohio & Indiana—Stock...
50
59
1st 6s 1926 ........... J&D 69
71
Peoples Gas & Coke—N Y Stock Exch
Philadelphia Co..............
Pittsburg Gas..................
Portland (Maine) Gas L ..
St Joseph (Mo)......... *
“40“
5s 1937................... J&j 89 ’ 43“
St Paul Gas—Stock.........
88
41
Consol 5s 1944 __ M&S 75
508
BONDS.
N .Y . S T O C K E X C H A N G E
W e e k E nding M ae . 11.
THE O flK O M O L E —BOND
P rice
Friday,
Mar. 11.
Bid.
Week's
R ange or
L ast Sale.
R ange
fr o m
Jan. 1.
FEIGES (5 pages) P age
BONDS.
N .Y . S T O C K E X C H A N G E
W e e k E nding Ma r . 11.
A sk. Low. High. No. I Low. High
P rice
F riday,
M ar. 11.
Bid.
2.
[Y
Week’s
R ange or
L ast Sale.
Ask. Low. H igh.
ol
. L iv i.
Range
fr o m
Jan. 1.
Low. High
65 N ov’97
F -A
116% 117
117 M a r’ 98
J - J *110
Chic St P M & O— (Con.)—
132
82% 82%
82% M ar’98
132% 132% Jan.’98
A -O
St P & S.City 1st g 6s. 1919 A - O
83
83
85
A -0
Chic Ter Transfer g 4s . .1947 J - J 83 Sale
106
J
’ne’
97
*105
M
-N
A
O
Ch & W est 1 1st s f g 6s. 1919
121
121 M ar’98
77% 78
77% Feb.’98
J - J
General gold 6s............1932 QuM *118
Chic & W est Mich R y hs.1921 J - D
113% 117
116% 115% 115%
A -0
Coupons off................... 1921
119
O
ct.’
97
89% 95
94% Feb.’ 98
92
1st c o n s o l g o ld 5 s ........1939 M -N
Cln H & D con s f 7s— 1905 A - O
103% Oct.’ 97
83
92%
92% Mar ’98
92
H u r o n D iv 1st g 5S.1939 A - O
2d gold 4% s................... 1937 J - J
110%111% F laP tCen
111 % M a r’" "
& P e n 1st g 5s. .1 9 1 8 J - J
Cln D & I 1st gu g 5s. .1941 M -N
1st lan d g r e x t g o ld 5 s.1930 J - J
C I S t L & C . See C C C & St B.
C on sol g o ld 5 s . ............1 94 3 J - J
Cin S & C. See C C C & St B.
F t S & V B B ge. See StB& SF.
City & S R y Balt 1st g 5s.l922 J - D
105 105
105
Sale 105
F o r t S t U D C o 1st g 4 % s !9 4 1 J - J 105
Clearfield & Mah. See BR&P.
69
75
69
71
69 Sale
Cl A k & C eq & 2d g 6 s..1930 F - A
70
73% F t W & D C— 1st g 4 -6 S .1 9 2 1 J - D
73% M ar’ 98
54% 59%
75
58
58
58
57
Cl & Can 1st 5s tr r e c ...19 1 » J - J
F
t
W
&
R
io
G
r
1st
g
3
-4
s
.l9
2
8
J
J
84 O ct.’97
84
J
D
F u lto n E le v . See K in g s Co E l.
C C C & St li—Gen g 4 s..1993
90
89
90 Jan.’98
a l H a r & S A . See S P Co.
Cairo Div 1st gold 4s. .1939 J - J
96% 98%
96%
96%
96% Sale
90
92
al H & H o f ’ 82 1 st 5S.1913 A - O
St B Div 1st col trg 4 s .l9 9 0 M -N
93%
D
e
c
’9
'
108 A ug’9
M
-N
G a & A la R y 1st p f g 5S.1945 A - O
R egistered..................1990
83
Feb
’ 97
G
a
Car
&
N
o
1st
gu
g
5S.1929
J
J
Spr & Col Div l s t g 4s. 1940 M -S
87% 88%
I Jan.’98
W W Yal Div 1st g 4s. 1940 J - J
G e o rgia P a cific. See So R y.
89
90
90
90
Cin W & M D iv ls tg 4 s .l9 9 1 J - J
G ran d R a p & In d . See P a Co.
101
101
Jan.’
98
101
Cin I St B & C l s t g 48.1936 Qu-F
an & St J. See C B & Q.
R e g iste re d ................ 1936 Qu-F
o u s a to n ic. See N Y N H & H
H
o
u
s & T e x Cen. See So P Co
Consol 6s.............. ¿, - JnoQ M -N
114 Oct.’97
113% 115
115
115
Cin S & Cl con l s t g 5S.1928 J - J
llin ois C ent 1 st g 4 s . . .1 9 5 1 J - J
107% Feb ’97
iAd B1& W i s t p f 7 s ..1900 J - J
112% J’ly ’97
R e g iste re d .....................1951 J - J
101 N ov’ 97
O Ind & W 1st p f 5s... 1938 Q —J
1st
g
o
ld
3
%
s
.....................
1951
J
J
78 Feb.’ 98
101 102%
101 Feb.’98
P eo & East 1st con 4s. 1940 A - 0
R e g is te r e d .....................1951 J - J
21 A u g’ 97
Incom e 4s................... 1990 Ann.
1st g o ld 3s s te r lin g — 1951 M - S
104% 105%
105% 105%
Cl C C & Ind l s t s f 7S...1899 M -N
-------1951
M
S
R
e
g
i
s
t
e
r
e
d
.
.
.
.
.
.
.
132 187
132
132
102 102
102 Feb.’98
C oll T ru st g o ld 4 s ......... 1952 A - 0
Consol 7s.......................J9J4 J - D
108 103
108 Jan.’ 98
Consol sinking fd 7s.. .1914 J - D
R e g is te r e d ....................1952 A - 0
128 N ov’97
101% 102%
101%
101%
1
0
0
%
General consol gold 6S.1934 J - J
B N O & T e x g o ld 4 s .. 1 958 M -N
R e g iste re d ................ 1934 J - J
R
e
g
is
te
r
e
d
....................1953
M
-N
107% O ct.’ 97
C&S 1st H C C C & 17S.1901 A - 0
99
Sep.’97
C
oll
t
r
2-10
g
o
ld
4s
—
1
904
J
J
102%102%
102% Jan.’98
Cl Bor & W h con 1st 5 s .1933 A - O
R e g is te r e d ................... 1 904 J - J
105 105*
108% 108%
Clev & Marietta. See Pa RR.
W e s te rn B in e 1st g 4 s .l9 5 1 F - A
Clev & Mahon V al'g 5s--1938 J - J
R e g i s t e r e d ..................1951 F - A
R e g iste re d ................ 1938 Qu-J
C airo B rid ge g o ld 4 s. .1 9 5 0 J - D
Clev & Pitts. See Penn Co.
R e g i s t e r e d ..................1950 J - D
63
68
64
63% 63
Col Mid Tr cfs 1st g 6 s .. 1936
M iddle D iv re g 5 s ........1921 F - A
128 128%
128% F eb.’ 98
T rC o c f s c n g 4 s s t g u l 9 4 0 )
C
h
ic St B & N O g 5 s . . 1951 J - D
17% 21%
17%
18
118% A p r ’ 97
Assented all instlmt paid. 5
R e g i s t e r e d ..................1951 J - D
108% 103%
103% Jan.’98
Col & 9th A v. See Met St Ry,
M em D iv 1 st g 4 s . . ..1 9 5 1 J - D
Colum & Greenv. See So R y
R e g is te r e d ................1951 J - D
O
ct.’
97
Col H Y & T ol con g 5s.. 1931
St B A & T H 1st & term
82
77
75% Sale
105 D ec’ 97
J P M & Co eng cfs $65 pd.
g o ld 5 s ...........................1 914 J - D
61
Feb.?98
55% 62
General gold 6 s ... . . . . .1904 J - D
R e g is te r e d ....................1914 J - D
J
J
114
General lien gold 4 s .. .1996
B e lle v & Car 1st 6 s . .. .1 9 2 3 J - D
90 N ov’97
R e g istered ................ 1996 J - J
90
St B Sou 1st gu g 4 s . . .1 9 3 1 M - S
90
Col & Cin Md. See B & O.
Carb & S 1st g 4 s ......... 1932 M - S
Col Conn & Term. See N&W
In d B1 & W .~ See C C G & St B.
104
98
98 104% 98
Oonn & Pas Rivs 1st g 4s. 43 A - O
In d D e c & W 1st g 5 s . . ..1 9 3 5 J - J
88
Jan.’ 98
ak & Gt So. See C M & StP.
In d 111 & l a 1st g o ld 4 s. .1 9 8 9 J - D
alias & W aco. SeeMK&T.
1
st
e
x
t
g
o
ld
5
s
...............
1
943
M
S
128 128
128 Jan.’98
121% 123%
F
eb.’98
123
123
Del Back & W estern 7s..1907 M -S *124
I
n
t
&
G
t
N
o
1st
g
o
ld
6
s.
1919
M
-N
125% 125%
125% M ar’ 98
81
90
84
81
84
Syr Bing & N Y 1st 7s.l906 A - 0 *124
81
2 d g o ld 5 s.........................1909 M - S
141% 144
141% Feb.’ 98
44
60
50
Morris & Essex 1st 7 s.1914 M -N *135
50
50
47
3d g o ld 4 s.........................1921 M - S
109 N ov’97
99
103%
1
0
0
7s ............................... 1900 J - J *104
100
100
113% 113% Io w a C entral 1st g o ld 5S.1988 J - D
118% Feb.’98
7 s....................... 1871-1901 A - O *110
I
o
w
a
M
idland.
See
Ch
&
N
W
.
141
142
142 Feb.’ 98
1st con guar 7s.........1915 J - D
T e ffe r s o n R R . S ee E rie.
R e g iste re d ............... 1915 J - D
138 Feb.’ 98
N Y Back & W 1st 6 s.. 1921 J - J 186
al A & G R . See B S & M S.
118% N ov’ 97
Construction 5s.......1923 F - A
an & M ich . See T o ! & O C.
W arren 2d 7s................ 1900 A - 0 *107
K
C
& M R & B l s t g u g 5 s . 1929 A - O
147% A ug’ 97
78% ‘ 81%
78%
Del & H ud 1st Pa Div 7S.1917 M -S *140
K C P & G 1st & c o l g 5S.1923 A - O
143
May’97
*140
M
-S
R egistered..................1917
K a n C & P ac. See M K & T.
125%
125%
125%
Feb.’
98
Alb-& S u s ls tc o n g u 7 s l9 0 6 A - O *122
K ansas M id. See St B & S F
R egistered.................1906 A - 0
117 118% K ansas P a c. See U n io n P a c
117% Feb.’98
Gold 6s.......................1906 A - O *115
K e n tu ck y Cent. See B & N.
117 117
117 Feb.’ 98
Registered.............. 1906 A - O
K e o k & D es M . S e e C R I & P .
148%
A
u
g’97
50
*142
M
-N
45
Rens & Sar l s t 7 s ........ 1921
K in gs Co E l ser A 1st g 5s ’ 25 J - J ......... 50
144%
145
145
Feb.’98
38
37
R e g iste re d ................ 1921 M -N *140
35 Sale
F u l E l l s t g u g 5s s e r A . ’ 29 M - S
Del R iv R R Bge. See Pa RR.
K n o x v ille & O hio. See So R y.
115%
117%
A
0
116%
Den Con Tr Co l s t g 5s.. 1933
ake E rie & W 1st g 5 s .l 9 8 7 J - J 115% Sale 115%
102 103%
102%
Den Tram Co con g 6S.1910 J - J
2 d g o ld 5 s . ................ 1941 J - J 100 102 102
100 100%
Met R y Co 1st gu g 6^.1911 J - J
N o rth O h io 1st gu 5 s . .1 9 4 5 A - 0 .........108% 100% Jan.’ 98
89%
95%
28
92
90
*
90
94
Den & R Gr 1st co n g 4s.l936 J - J
B
ak
e
S
hore
&
M
ich
S
o
u
t
h
110
110%
5
110
110
102%102%
102%
Jan.’98
1st gold 7s..................... 1900 M -N
B
u
ff
&
E
rie
n
e
w
B
7
s
..
1
898
A
O
2 85% 93
90
92% 90
Im provem ent gold 5 s .1928 J - D
120% O ct.’ 97
D e t M o n & T o l 1st 7s. 1906 F - A
106 106%
106% Feb.’ 98
Des M & Ft D. See C R & I P.
B ak e S hore d iv id 7 s . ..1 8 9 9 A - 0 106
2 107% HO
110
110
Des M & Minn. See Ch & N W .
C onsol 1st 7 s ............. 1900 J - J 109
99
5 97
98
98
3 109 109%
109
. 109 109
Des M Un R y 1st g 5 s . ..1917 M -N
R e g i s t e r e d ............. 1900 Q u -J
17%
17%
5 119 120%
119
Det M&M Id gr 3%s S A.1911 A - O
C on sol 2d 7 s ............... 1903 J - D 119 Sale 119
119 119%
119
Det M&T qI. S eeB S & M So.
119 Sale 119
R e g is te r e d ............... 1903 J - D
•D
Det & Mack 1st lien g 4s. 1995
104 Sale 103% 105% 41 103% 106%
G o ld 3 % s .................... 1997 J - D
105 105
•D
105
Jan.’98
Gold 4s....... ................. 1995
104 110i^
R e g is te r e d ............... 1997 J - D
107%
107%
108% D ec ’97
Dul & Iron Range 1st 5S.1937 A - O
™
C in & S p ls t g u B S & M S 7 s ’ 01 A - 0
R egistered.................... 1937 A - O
K A & G R I s t g u c 5 s .l 9 3 8 J - J
125 D e c ’97
2d lien mortgage 6 s .. .1916 J - J
M a h on C oal R R l s t 5 s . ’ 34 J - J
92% 92%
92% Feb.’ 98
Dul R ed W & S 1st g 5 s .1928 J - J * 91
B eh V a l (P a ) c o ll g 5s. .1 9 9 7 M -N
105 107
107
Dul So Shore & A t g 5s. 1937 J - J 105 Sale 105
R e g i s t e r e d .....................1997 M - N
102% 104%
104%
ast o f Minn. See StPM&M,
I i Y I n Y 1st g u g 4 % s .. 1940 J - J
ast T V a & Ga. See So Ry.
103
R e g i s t e r e d .....................1 940 J - J
i " 112%
111% M ar’ 98
Eliz B ex & B S. See C & O.
B eh V T e r R y ls t g u g 5 s l9 4 1 A - 0
109% J ’ly ’ 9 "
Elm Cort & No. SeeBeh&NY.
R e g i s t e r e d .....................1941 A - O
113 Feb.’98
96% O ct.’ 97
Erie 1st ext g 4s.............. 1947 M -N *110
U
V
C
oal
Co
1st
gu
g
5s..
1983
J
J
2d ext gold 5s...... -»....1919 M -S 1 1 5 % ....... 116% D e c ’97
R e g is te r e d ....................... 1 933 J - J
92
92
92 Feb.’98
3d ext gold 4% s........... 1923 M -S 110 .... 112% N ov’ 97
B eh & N Y l s t g u g 4 s ... 1945 M - S
4th ext gold 5 s ............ 1920 A - O 1 1 7 % ....... 120% Oct.’ 97
1041^1041^
R e g is te r e d ....................... 1945 M - S
104%
Feb.’98
104
105
J
D
5th ex t gold 4s.............1928
1
4
3
*
147
%
E
l
C
&
N
1st
g
1st
p
f6
s
.l9
1
4
A
0
143
101 Sep.’ 97
1st consol gold 7s....... 1920 M -S 1 4 2 % ....... 143
140 148
G o ld g u ar 5 s ................1914 A - 0
140 Feb.’98
1st consol gold fd 7 s .. 1920 M -S
137
139
B e h & W ilk e sb . See C en t N J.
137
Bong Dock con gold 6S.1935 A - O *137 Sale 137
B
e
ro
y
&
C
an
ey
V
al.
S
ee
M
o
P.
141 Sep.’97
Buff N Y & Erie 1st 7s. 1916 J - D
B e x A v & P F. See M e t St R y.
Buff & S W gold 6s---- 1908 J - J
U itch C ar & W l s t g 6 s. .1 9 1 6 J - J
Small .................................. J - J
B ittle R & M em 1st g 5s 1 9 3 7 ?
106 106
106 Feb.’ 98
Jeff R R 1st gu gold 5S.1909 A - O *104
T ru st C o c e r t fs ...................J .......... * 20
113
111
Mar
’98
112
*110
111 %
Chic & Erie 1st g 5 s ... 1982 M -N
B o n g D o ck . See Erie.
101% N ov’97
Coal & R R 1st c gu 6S.1922 M -N
B o n g Isla n d 1st 7 s ......... 1 898 M -N *102
117% 120
120
120
D ock & Imp 1st cur 6s.l91S J - J
1st c o n g 5s..................... 1931 Q u-J *118
105% Oct.’97
85% 89
89 Feb.’ 98
N Y & Green p gu g 5s. 1946 M -N
G en eral g o ld 4 s ........... 1 938 J - D * 89
88% 90
88%
M
ar’
98
*
86
Small...................................
F e rry 1st g o ld 4 % s — 1922 M - S
93
64 88
90
88
88 Sale
Erie 1st con g 4s pr bds. 1996 J - J
G o ld 4 s .............................1932 J - D
Registered..................1996 J - J
69
U
l 7 4%
D
e
b
e
n
tu
re
g
o
ld
5s........1934
,T
D
69%
70%
69% Sale
100 May’ 97
1st oon gen lien g 8-4s. 1996 J - J
N y & R B l s t g 5 s . . . .1 9 2 7 M - S
R egistered..................1996 J - J
2 d in c o m e ................... 1 927 Sept.
Escan & B Sup. See C & N W .
Eureka Springs 1st g 6s. 1933
132% E v & T H 1st c o n g 6 s ...1921
1 st general gold 5 s ... .1942
87%
Mt Vernon 1st 6s.........1923
Sull Co Br’ch 1st g 5s. 1930
122%
E v & Ind 1st con gu g 6S.1926
argo & So. See Ch M & St P.
lin
920
: t & P e re M
- - g 6s.
~ .. .1-------
F
G
H
I
D
K
L
E
....
* No prices or sales on F rid a y; these are latest bid and asked prices this week.
Teleg. »Sc Teleph.
Commercial Cable—N Y S
Syracuse Gas—Stock.......
Commer Union Tel (N Y).
1st 5s 1 9 4 6 ............. J&J
Empire & Bay State T e l..
W estern Gas(Milw)—Stck
Erie Teleg & Teleph—NY
5s—See N Y Stock E xch
Franklin.............................
Gold & Stock......................
Teleg. «fc Teleph.
B on d s..............................
Hudson R iver Telephone
nam e of com pany.
ation Ocean......
merican Dist Tele—NY Stock Exch Intem
A m erican Tel & Cab—NT 1 Stock Exch M exican Telegraph—
M
exican
Telephone...
trai &r South A m er... 103 105
57% New Eng Telep—See Bost
50
es
P oto Teleph—Stk
Northwestern Telegraph
1 102 105
G as Securities.
Bid. Ask.
17% 20
90
88
82% 84
Bist.
Ask.
xch
68
78
Stock E xch
. 72
108
on list
-TEL. & ELECTRIC , Sc.
Ask.
E l e c t r i c C o m p a n ie s
Exch
Edison El 111 Co Brk—N Y
Edison Ore.Milling Co__
Edison Storage C o.........
East End Electric Right..
Electro-Pneum atic...........
Fort W ayne Electric Co..
Series A ...........................
General Electrie Co—N Y Stock E xch
125
90
Do preferred...................
H artford (Ct) Elec Bt Co. 118 125
37%
H artford (Ct) Bt&Pow Co
4% 10
Mo Edison E lectric....
16
45
43
Do preferred.............
Stock Exchl
Bid. IAsk. 1
. . . . . . 152
5s 1920...................J&J 1 0 6 % .........
71
.........
Pacific & A tlantic............
95
90
Southern & A tlantic.........
W est’n Union Teleg—N Y Stock E xch
T e l e g . »Sc T e l e p h .
N Y & N J T elephone—
E l e c t r i e C o m p a n ie s .
Allegheny Co Bight C o...
Brush Electric C o ...........
Br’dgprt (Ct) E lec Bt Co.
Consol Electric S torage..
Eddy Electric M fg C o—
Edison El 111 Co NY—N Y
M
a sc h
12 ,
THE
1898.]
BONDS.
ELY. STOCK EXCHANGE
W e e k E nding M a e . 11.
P rice
F rida y,
Mar. 11.
Bid.
C H R O N IC L E -B O N D
Week's
R a n ge or
L ast Sale.
Range
fr o m
Jan. 1.
•Si
BONDS.
Ask. Low. H igh. No. Low. High.
Ô 09
PRICES (5 pages) P age 3.
[n .y . s t o c k e x c h a n g e
W e e k E nding M ar . 11.
P rice
F rid a y,
M ar. 11.
Bid.
R ange
fr o m
Jan. 1.
Week's
R ange or
L ast Sale.
A sk. Low. H igh. No. Low.H igh.
Mohawk & Mai. See N Y C & H
Long Island—(Con.)—
Monongahela Riv. See B & O
105 107% D e c ’ 97
N Y B & M B c o n g 5 s ..1935 A - o
Mont Cent. See St P M & M.
M
-S
Bklyn & Mon 1st g 6s. 1911
Montauk Ext. See Long Is.
1st 5 s.................. .....1 9 1 1 M -S
M organ’s La & T. See S P Co.
Npr S h b ls t c o n g g u 5 s ..’ 32 Qu-J
Morris
& Essex. SeeDelL& W
N Y Bay E x E ls t g u g 5 s ’43 J - J ••••
ash Chat & St L 1st 7 s.’ 13 J - J T80 ....... 180% M ar’ 98
Montauk E x gu g 5s. ..1945 J - J ••••
105% N ov’ 97
2d 0s...................... 1901 J - J •.........105
La & Mo Riv. See Chi & Alt.
1st con gold 5s............ 1928 A - O 104% Sale 104% 104%
L E & -S tL C o n cn g 5 s .l9 3 9 . )
32
33 Feb.’98
1st 6 s T & P b ..............1917 J - J
33
Tr Co certs......................... )
—
A u g’ 97
1st 6s McM M W & A1.1917 J - J
General gold 4s.............1943 M S . . . .
103
1st gold 6s Jasper Bch.1923 J - J
102% 105
Louisv & Nashv con 7 s.1898 A - O 103 Sale 103
106 N ov’ 97
Nash Flor & S h e f.. See L & N
Cecellan Branch 7S....1907 M - S . . . . . . . . . .
F
eb.’98
122
N
ew H & D . See N Y N H & H
1
2
0
%
1
2
2
N O & M l s t g 6s........ 1930 J - J *121% . . . .
107% Feb.’ 98
N J June R R . See N Y Cent. I
2d gold 6 s ...'.............1930 J “ J ............
N J Southern. See Cent N J.
E H & Nash l s t g 0 s ...1919 J - £ * . . . . . . 119 117 F eb.’98
117
119
117 120
New & Cin Bdge. See Penn Co
General gold 6s............1930 J - £ *117
108% Sep.’ 97
N O & N E p r io r lie n g 6 s . 1915 A - O
Pensacola div gold 6s. 1920 M - 8 *100
121
J
’ly
’97
N
Y B & Man Bch. See L 1.
S t L d i v l s t g 6s............1921 M -S
N Y Bay E xten R R. See L 1.
2d gold 3s....................1980 M -S
110 D e c ’ 97
N Y Cent & H ud R —1st 7s.’ 03 J - J 116% Sale 116% 116%
Nash & Dec 1st 7s.......1900 J - J
R egistered ................ 1903 J - J *116 117% 116% Feb.’98
Sink fd (S&A) g 6 s . . . . 1910 A - O 104
108
104% Feb.’ 98
Debenture 5 s o f. 1884-1904 M - S 108 Salé 108
101% 104%
G old 5s.......................... 1937 M -N 102 %
108
85
88
R
e gistered ___1884-1904 M - S *108 108% 108
85
91%
*
80
.
J
J
Unified g 4s...... .
1940
109%
Sep.’
97
*108
R
eg
deb
5s
o
f
..
.1889-1904
M
S
R egistered........ , . ... 1940 J - J
105 Feb.’98
Debenture g 4s. .1890-1905 J - D *108%
103 109
Pens & A tl I s t g u g 6 s .l9 2 1 F - A *104 105 104% 104%
104% Feb.’ 98
*103%
102
%
102
%
Registered.......1890-1905
J
D
102%
108%
103
M
-N
Coll trust g 5s.............. 1931
105 F eb.’98
100% Sep.’ 97
Debt certs ext g 4 s ... .1905 M -N *103%
L& N & M & M lstg 4 % s.l9 4 5 M -S ‘105
105 F eb.’98
90
Registered..................1905 M - N *103%
90
90
95
N Fla & S 1st gu g 5 s ... 1937 F - A » 88
109% 109%
109
95
95
Harlem
1st
7s..............
1900
M
-N
94
98%
F
A
S & N A c o n g u g 5s.. ..1930
89
89
R egistered................. 1900 M - N *108 109% 109% Jan.’ 98
87
91
89
Kentucky Cent g 4 s ...19 8 7 J - J
108 May’97
Jan.’98
103
103
103
N
J
June
R
gu
1st
4s
.1986
F
A
M
-N
L Cln & L ex g 4 % s ....l9 3 1
R egistered .................1986 F - A
L & Jeff Bge Co gu g 4s. 1945 M -S
W est Shore 1st 4s g u .2361 J - J 109% Sale 109% 110
L N A & C. See C I & L.
109%
R egistered.................2861 J - J 108 Sale 108
103 103
Louis R y Co 1st con g5 s.l9 3 0 J - J
108% N ov’ 97
Beech Crk lst«g u g 4s. 1936 J - J
ahon Coal. See L S & M S.
R egistered .................1936 J - J
95% 98%
anhattan R y con 4s. 1990 A - O 94 ......... 96 M ar’ 98
116%
2d gu gold 5s............1936 J - J
116 119%
Metropol El 1st g 6 s... 1908 J - J 116 Sale 116
Registered..................1936 J - J
104 105
2d 6 s . . . . .................... 1899 M -N 104% 104% 105 Feb.’ 98
Clearfield
Bitum Coal Corp
J
D
Man S W Coloniz g 5 s ... 1934
86 N ov’ 97
l s t s f int g u g 4s ser A . ’40 J - J
Market St C R y 1st g 0S.1918 J - J
Small bonds series B . .’40 J - J
M cK ’pt & B V. SeeP McK&Y.
Gouv
&
Oswe
1st
gu
g
5s.’
42
J
D
Metropolitan El. See Man Ry.
122% M ar’ 98
R W & O gcon ls t e x t 5 s .’ 22 A - O
Met St R y gen c tr g 5 s..1997 F - A 110 Sale 109% 111% 184 109% 116%
120 120 M a r’98
Nor & Mont 1st gu g 5 s.’ 16 A - O
120 122%
B w a y& 7 th A v lstcg 5 s.l9 4 8 J - £
R W & O T R 1st g u g 5s. 18 M -N
R e g iste re d .............1 9 4 3 J - D
117 123% . Oswe & R 2d gu g 5s. .1915 F - A
Col& 9th A v 1st g u g 5s. 1993 M -S 117 Sale
107% J’ne’ 97
Utica & Blk R iv gu g 4 s.’ 22 J - J
R e g iste re d ............... 1993 M -S
Moh & Mai 1st gu g4 s.l9 9 1 M - S
118
118 123%
U 8%
L ex A v & P F l s t g u g 5 s .’ 93 M -S *116
Cart
&
A
d
1st
gu
g
4
s
.1981
J
D
R e g iste re d ........................ t - ?
N Y & P u t ls t c o n g u g 4 s .’93 A - O
66% Feb.’ 98
66% '66%
M ex Cent con gold 4 s .. .1911 J - J
120 Feb.’98
N Y & North l s t g 5 s ..1927 A - O
1st con incom e g 3 s .. .1939 July
105%
105
N
Y Chic & S t L l s t g 48.1937 A - O
2d con incom e g 3 s ... .1939 J w
108 N ov’ 97
R egistered ....................1937 A - O
Equip & coll g 5 s........ 2
N Y & Greenw Lake. See Erie
70% 73
Mex Internat 1st con g 4s.’ 77 M - S 71% Sale
N Y & H a r. S eeN Y C & H u d.
M ex Nat 1st gold 6s.......1927 J - £
N Y Lack & W . S e e D L & W
2d incom e gold 6s A . . 1917 M -S
N Y L E & W. See Erie.
Coupon stam p ed ................M -S
N Y & Man Bch. See Long Is.
J ’ly ’97
2d incom e gold 6s B .. 1917 Ann.
N Y & N E. See N Y N I I & H
Feb ’97
M ex North 1st gold 6s. .1910 J - £
104% Oct.’ 97
N Y N H & Hart ls t r e g 4 s .’03|J - D
R egistered ....................1910 J - D
149% Jan.’98
Convert deb certs $1,000 .. A - O
114% 114%
113% 115%
Mich Cent—1st con 7s..l90 2 | M -N 113%
146 Jan.’ 98
Small certfs $100
106% Feb.’ 98
106% 106%
1st con 5s.................................1902 M105%
-N ,
125% Feb ’ 97
H
ousatonic
R
con
g
5s.
1937!
M
-N
122 123
122 Feb.’ 98
6s...............................................1909 M -S
N H & Derby con 5 s .. .1918 M - N
127 127
127 Jan.’
5s............................................... 1931 M -S
119 Feb.’ 98
N
Y
&
N
E
1st
7s.........1905
J
J
125%
Jan.’
98
125%
125%
R egistered ................ 1931 Q - M
114 May’ 97
1st 6s..........................1905|J - J
106 106
106 Feb.’98
4 s .....................
1940 J —J
N Y & North. See N Y C & H.
108 108
108 Jan.’98
R egistered................ 1940 J - J
106
.
.
.......
109
106
N
Y
O
&
W
con
l
s
t
g
5
S
.19
3
9
IJ
-D
Bat C & Stur 1st gu g 3s ’89 J - D
98
97
Refunding 1st g 4 s ... .1992 M - S 97% Sale
Mid o f N J. See N Y Sus & W
Regis
$5,000
o
n
ly
...1992
M
S
Mil E lec R y & Light consol
N Y & Put. See N Y C & H.
8 0-y rg 5 s ..................... 1920 F - A
N Y & R B. See Long Isl.
M L S & W . See Chic & N W
107
N Y S & W —1st re f 5 s...1937 J - J 105 Sale 105
Mil & Mad. See Chic & N W
90
90
2d gold 4% s........... „ ..1 9 3 7 F - A
Mil & North. See Ch M & St P
91
91
General g 5s................. 1940 F - A
Mil & St P. See Ch M & St P
111
%
1948
M
-N
Terminal
1st
g
5s........
111%
Min & St L gu. See B C R & N
Regis $5,000 e a ch .. .1948 M -N
143 J ’ly ’97
Minn & St L —1st g 7s . .1927 J - D 135
98%
97% 97%
W ilk& E astlst gu g 5s. 1942 J - D
105 108%
105
1st cons gold 5s........... 1934 M -N 105 Sale 105
128
Feb.’
98
121
Mid R R o f N J I s t g 6 s l9 1 0 A - O
127 N ov’ 97
Iowa ex 1st gold 7 s .. .1909 J - D
N Y T ex & M. See So Pac Co.
South W est ex 1st g 7 s .’ 10 J - D
North
Illinois.
See
Chi
&
NW.
121% A u g’97
Pacific ex 1st gold 6s .1921 A - O 117
North Ohio. See L Erie & W .
M & P 1st 5s st 4s int g u ..’86 J - J
Northern Pacific—
M SSM&A 1st g 4s int g u .’ 26 J - J
Gen 1st R R & L G s f g 6 s .’ 21 J - J 115% Sale 115% 117
M S tP & S S M con g4 sin tgu ’ 38 J - J
Registered..................1921 J - J 114% Sale 114% 114%
Minn St R y l s t c o n g 5 s .1919 J - J
128 D e c ’ 9 “
St
P & N P gen g 6 s .. .1928 F - A
Minn Un. See St P M & M.
120 N ov’97
Registered e t f s . ... .. 1923 Qu-F
85% 91%
86% Sale
86 %
88 %
Mo Kan & T ex—Is t g 4 s .l9 9 0 J - D
93%
95
93% Sale
Prior lien r & 1 g g 4s.. 1997 Qu- J
59
67%
59
61
59 Sale
2d gold 4 s........ ...........1990 F - A
94% M ar’ 98
R egistered..................1997 Qu- J ........ 94
83% 8 “ :
83% Jan.’ 98
1st exten gold 5s........ 1944 M -N
59 Sale
58%
60%
General lien g 8 s......... 2047 Qu-F
81
85%
81
81
M K & T o f T 1st g u g 5 s.’42 M -S
R e g iste re d ...........................2047 Qu-F
71
74
74 M ar’ 98
K C & Pac l s t g 4 s . . . . 1990 F - A
105% 100
80
84% Nor Pac Ter Co 1st g 6 s.l938 J - J
84% Feb.’ 98
Dal & W a 1st gu g 5s. 1940 M -N
Nor R y Cal. See Cent Pac.
B oonev Bdg Co gu g 7 s ..’ 06 M -N
Nor Wis. •See C St P M & O.
Teho & Neosho 1st 7s. 1903 J - D
105
105
13 94
99% Nor & South 1st g 5s___1941 M -N *105
96%
Mo K & E 1st gu g 5 s . ..1942 A - O
125% Feb.’ 98
130 94 100% Nor & W est gen g 6 s ....1 9 3 1 M -N *118
94
94% Sale
Mo Pac—1st con g 6s. .. 1920 M -N
120% D e c ’ 97
Now R iver 1st g 6 s ... .1932 A - O 118
108 109
........ 1 1 0
109 Jan.’ 98
3d 7s............................. 1900, M -N
117 Feb.’98
Im prvm t & ext g 6 s ...19 3 4 F - A
65% 79%
. . . . . •72% 79 Feb.’ 98
Trust g 5s....................1917 M -S
101 Feb ’ 97
C C & T 1st g u g 5 s .... 1922 J - J
R egistered...............1 9 1 7 M -S
87 Sale
87
87
Sclo V&N E lstg u g 4 s . 1989 M -N
65
67% 08 Feb.’ 98
65
72%
1st coll gold 5s........... 1920 F - A
79%
81%
N & W Ry ls t c o n g 4s. 1996 A - O 79% Sale
R egistered ...............1920 F - A
R e g iste re d ............... 1996 A - O
1 0 2 % 103 Feb.’98
103 106
Pac R o f Mo l s t e x g 4 s .’38 F - A
S m a ll.........................1996 A - O
106% Feb.’ 98
106% 106%
2d extended gold 5s. 1938 J - J 103
Nor & Mont. See N.Y. Cent.
Yerd V I & W l s t g 5s. .’ 20 M -S
94
g & L Ch 1st con 6 s..1920 A - O
Leroy & C V A L l s t g 5 s ’ 20 J - J
In com e.................... 1920 Oct.
110 107% Feb.’ 98
107% 110%
S tL & I M t ls t e x t g 4 % s .’47 F - A
*100
104
Feb.’98
105
105
Oct.
Incom e small........................
2d ext g 5s................1946 M -N
O I n d & W . See C C C & St L.
106% 108 Feb.’ 98
106% 108
♦
A rk Branch ext g 5s. 1935 J - D
Sale
88
90%
88
94% Ohio & Miss. See B&O SW.
Gen con ry & Id grt g 5s ’ 31 A - O
102 Jan.’ 98
86
86
86
92% Ohio R iver R R 1st g 5s..1930 J .- D
Gen con stamp gtd g 5s ’ 31 A - O
General gold 5s............1937 A - O
Miss R iv Bdge. See Chic & A lt
84% Feb.’ 98
Ohio
Southern
1st
g
6
s..1921
J
D
J
J
M ob& Birm p riorlien g 5 s.’45
14% Feb.’98
General gold 4s............1921|M-N
Small..................... . ............ J - J
14% Jan.’ 98
Eng Tr Co certfs
Incom e gold 4s....... .. .1945 J - J
78%
78%
78% 79
Om & St L 1st g 4 s.........1901 J-J
Small...................................
120
Ore & Cal. See So Pac Co.
120 123
Mfcb & Ohio new gold 6s. . ’27 J - D 120 Sale 120
M
ar’98
109
119%
119
D
e
c
’
97
Oregon
Imp
Co
1st
g
6
s
.1910
Qu-J
1st extension gold 6s. 1927
105 108
75%
76%
Eng Trust Co ctfs o f dep.
75% 80%
General gold 4s.......... 1938 M ~ 76% Sale
83
89
Stamped int pd to D ec 1 ’ 97
St L & Cairo gu g 4s . .1931 J
1 30% 131%
N
108
105
116
116%
108
108
117%
11
112
111%
i.04%
104%
103%
105
109%
109%
105
104%
105
105
109%
109%
08% 110%
108 110
M
121% 123
126
105
126
107%
145
145
150
140
106
97
108%
102%
103 108%
84% 91
87
98
110 % 1 1 1 %
93% 101%
114% 121
115% 119%
114% 119
94%
104
97%
63%
107%
105 105
124% 125%
117
83%
79
119%
87%
85
O
102
102
80
84%
11
15
10% 14%
78% 82
109 109%
103% 112%
* No prices or sales on Friday ; these are latest bid and asked prices this week.
OUTSIDE SECURITIES
E le c tr ic
C o m p a n ip s .
New H av (Ct) Elec L t Co
Narragansett (P rov)E l Co
Rhode'Island Elec Pro Co.
T oronto (Can) Elec L t Co.
Thom -Houst W elding Co.
United Elec Lt&P Co pref
B o n d s .............................
W esting Elec&MfgCo—Se
W oonsocket (R I) El C o..
Ferry Companies.
Bid. Ask.
160
82%
115 120
135% 136%
20
12
85
80
eB ost List.
B ’klyn & N Y Ferry-Stock 190
Bonds o f 1 9 2 0 .. ... ... .. 117
89
H oboken Ferry—Stock .,,
200
92 „
(G iv e n
at
eoot
of
8 c o n s e c u t iv e
Ferry Companies.
Bid. J Ask.
H oboken Ferry—(Con.)
1st 5s 1946............M&N| 107. 109
Metropolitan Ferry—5s.
108
N J & N Y Ferry—Stock.
1st 5s 1948......... . . j & j l
77
I ~75
Bonds 5s o f 1 9 3 2 ...
N Y & L B Trans & F(
Bonds ........ .
75
10th & 23d Sts Ferry.
Union Ferry—Stock.
1st 5s 1920............1
60
58
105% 107%
p a g e s ) .-
R a ilr o a d s .
A te Col & P 1st 6s tr eo cts
At Jew Co & W n 1st 6s “
Bid.
30
30
60
102
118
106
100
95
123
Do
W is Y al div 6 s ’ 20 122
C h& N W lst 7s Mad ext’ l l 130
-F E R R Y & RAILROADS.
Ask.
35
35
R a ilr o a d s .
Chic & North W —(Con)—
Do Menominee e x t ’ l l
Chic&Tom ahlst 6sl905
NorthwUn. 1st 7s 1917.
FremElk&Mo V al ls t ’33
Bid. Ask.
130
112
187
103%
181
129
W in&StP 1st ext 7s ’ 16 136
Ch & East 111 sink fd col tr
I Chic Peo & St L—Stock..
| Cin&Spgf 2d 7s gu C C C&I Ì08
|Jack L & Sag 1st ext 5 s ’ 01 101
.....
114
THE
BONDS.
N .Y . STOCK EXCHANGE
W e e k E nding M ar . 11.
1Interest
P eriod .
510
P rice
F rida y,
H ar. 11.
CHEONICLE.—BOND
Week’s l's-sj
R ange o r | o
L a st Sale, jpq^
R ange
from
Jan. 1 .
Bid. A sk. Low. H igh.ltfo. \Low. High
Oregon Injprov’t—(Con.)—
32% Aug’97
Con gold 5 s................. 1939 A -O
56% 48 52% 62%
53% Sale 53%
Con Tr Co re ofs 5th inst pd
114 Mar’98 ....1 1 2 % 115
Ore Ry & Nav 1st s f g 6s. 1909 J - J ........ 115
82 93% 97
95
94 Sale 94
Ore RR & Nav con g 4s.. 1946 J - D
31 120 127%
123
Ore Short Line 1st g 6s.1922 F -A 120% Sale 120
120 Dec’97
Utah & Nor 1st 7s....... 1908 J - J
Gold 5s........................ 1926 J - J ................. 102 May’97
68 96% 102
101
Ore Sh L 1st con g 5s.. 1946 J - J 100 Sale 100
60 58
69
65
Non-cum Inc A 5s..... .1946 Sept. 61% Sale 61%
49
48% 47 89
Non-cum inc B & col trust. Oct. * 4 6 % ....... 45%
Oswego & Rome. See N Y C
O O F & S tP . See C & N W
ac of Missouri. See Mo Pac
anama s f s’bsldy g 6S.1910
Pennsylvania Co—
112
112%
Penn Co gu 1st g 4%s.l921 J - J *.
112% Dec’97
Registered................ 1921 J - J .
Gtd3%scol trust reg.1937 M -S .
P C O & St L con gu g 4%s—
113 Feb.’98
1 1 1 % US
Series A....-...............1940 A -O *........113
111%113
112%Feb.’98
Series B guar............1942 A -O *........113
Series Cguar............1942 M-N
102 Oct.’97
Series D 4s guar....... 1945 M-N
106% Mar’98
106%106%
Pitts Cln & St L 1st 78.1900 F -A
109% Apr’97
Registered................ 1900 F -A
140 140%
140% Jan.’98
Pitts Ft W & C 1st 7s. 1912 J - J
140 Jan.’98
140 140
2d 7s..........................1912 J - J
3d 7s......................... 1912 A -O
112% Apr’97
C St L & P 1st con g 5s. 1932 A -O
Registered................1932 A -O
109 ” Nov’97
Clev & Pitts con s f 7s.1900 M-N
Gen gu g 4%s ser’s A. 1942 J - J
Series B..................1942 A -O
102 102
102 Jan.’98
St U Van & T H 2d 7s. 1898 M-N * 102%
102% 102%
102% 102%
2d guar 7s................ 1898 M-N * 102%
Gr R&I ex Istgug4%s.l941 J - J
102 " Nov’9'
Allegh Valgengug4s.l942 M -S
N & CBdgegengug4%s.’45 J - J
Pennsylvania RR Co—
108 May’97
1st real estate g 4s.... 1923 M-N 113
Con sterling g 6s........1905 J - J *113
Con currency 6s reg.. .1905 Q-M
Con g 5s.......................1919 M -S
Registered.............1919 Q-M
Cong 4s. . . j.................1943 M-N
Cl & Mar 1st gu g 4%s.l935 M-N 108 112
115%115%
115% Feb.’98
U N J RR & Can gen 4s. 1944 M -S
D R RR& Bge 1st gu 4s g.’36 F -A
Pensacola & At. See 1. & Nash
99%100%
99%
Peo Dec & E 1st g 6s tr rec.’20 J - J 99% Sale 99%
96
96
96 Feb.’98
Evans Div lstg6strrec.’20 M -S
2d g 5s tr rec 1 st pd..l926 M-N ”1 2 " !!!!!! 14% Dec’97
Peo & East. See C C C & St L
112% Mar’97
Peo & Pek Un lstg 6s ... 1921 Qu-F 121
86% Feb.’98
86% 86%
2d g 4%s.......................1921 M-N * 81
137 Nov’97
Pine Creek reg guar 6s. .1932 J -D
Pitts Cin & St L. See Penn Co,
P C C & St L. See Penn Co.
Pitts Clev & Tol lstg 6s. .1922 A -O
Pitts & Connellsv. See B & O
Pitts Ft W & Ch. See Penn Co
Pitts June 1st g 6s........1922 J - J
Pitts & L E—2dg5sA&B.’28 A -O
Pitts McK & Yo—lstgu 6s.’82 J - J
2d guar 6s....................1934 J - J
McKee & B V 1st g 6s. 1918 J - J
Pitts P & F 1st g 5s...... 1916 J - J
107 109
107% 108% 108%
Pitts Sh & L E 1st g 5s. .1940 A -O
98 J’ly ’97
1st consol gold 5s...... 1943 J - J
77
86%
81
Pitts & West lstg 4 s... 1917 J - J *80 ...... . 81
33% Mar’97
Gold 5s...............1891-1941 M-N
Pitts Y & Ash 1st con 5sl927, M-N
83
81% 87%
HDeading Co gen g 4s... 1997 J - J ’ ÌM¿¿Sale' 81
-tii Registered.............1997 J - J
Rensselaer & Sar. See D & H
Rich & Dan. See South Ry.
80 n 86%
82
Rio Gr West 1st g 4s.... 1939 J - J 80 Sale 80
92% 94%
94% Feb ’98
Rio Gr June 1st gu g 5s. 1939 J -D
54
54
54 Feb ’98
Rio Gr So 1st g 3-4s....... 1940 J - J
Roch & Pitts. See B R & P.
Rome Wat & Og. See NY Cent
alt Bake C lstg sf 6s .. 1913 J - J
70 .76
t Jo&G I 1st g 2-3 4s.. 1947 J - J
St L A & T H. See Illinois
Central.
St L & Cai. See Mob & Ohio.
St L & Iron Mount. See M P.
St L Jack & Chi. See Ch&Alt.
St L K C & N. See Wabash.
St L M Br. See T RR A of StL
St Iiouis & San Francisco—
116 116%
2d gold 6s Class A ... .1906 M-N 112%116 116% Feb.’98
115 116%
115
2d gold 6s Class B....... 1906 M-N 115 Sale 115
115 ‘116%
2d gold 6s Class C....... 1906 M-N 112%116 116 Mar’98
1st g 6s Pierce C & 0..1919 F -A
116% 119%
118% Mar’98
General gold 6s........... 1931 J - J ........ 119
102 105%
103
General gold 5s........... 1931 J - J 100%103 102
93
97%
97% Feb ’98
1st trust gold 5s.......... 1987 A -O
105 Oct.’97
Ft S &V B Bdg lstg 6s. 1910 A -O
Kansas Mid 1st g 4s.. .1937 J -D
72
77
72%
73%
St L & S F RR g 4 s... .1996 J - J
94% 96
95% Mar’98
Southw Div 1st g 5s.. .1947 A -O
St L So. See St Ii A & T H.
77
73%
S tL S W lstg 4sbdcfs.1989 M-N 73 Sale 72%
30
28
2d g 4s inc bond ctfs. .1989 J - J 28 Sale 26
St L Van & T H. See Pa Co.
90 Nov’97
St Paul City Cab. c g 5s. 1937 J - J
Guaranteed gold 5s... 19 37 J - J
117 117
117
St Paul & Duluth 1st 5s. 1931 F -A 115 118 117
107%109
2d 5s............................1917 A -O 107 109 109 Feb.’98
122% 122%
St Paul M & M 2d 6s .... 1909 A -O *120 ..... 122% Jan.’98
121% 122
Dakota ext gold 6s— 1910| M-N *120 ..... 122 Jan.’98
128 129
1 st consol gold 6s...... 1933 J - J *124%........ 128 Feb.’98
Registered .............. 1933 J - J *123% ......
106 108%
107%
Reduced to gold 4%s 1933 J - J 107 Sale 107
106% Mar’98
Registered............ 1933 J - J
44 93% 100%
99
99
Mont Ext 1st gold 4s. .1937 J -D
96
96
96 Feb.’98
Registered........... . 19 37 J -D
'122% Jan.’98
¡ 122 % 122%1
Minn Union 1st g 6 s...19221 J - J
P
S
PRICES (5 pages) P age 4.
BONDS.
N.Y. STOCK EXCHANGE « t
S Si
W e e k E nding M ar . 11.
R ailroa d s.
Kingston & Pemb 1st M ..
[jN A & Ch 1st 6s C &I Div
Kemp & Char cons bonds
Stewb Dutch&Conn inc b’s
STY El deb 5s gu Manh Ry
North Pac Mo Div 1st 6s.
Pittsb & Connellsv 1st 7s
Do con 6s gu by B & O
3t P East & Gr Tr 1st 6s ..
gu by Milw L S & West
renn Cl &Ry con 6s 1901
Do South Pitts 1st 1902
Vieksb & Meridian 1st 6s
Bid.
108 ‘
110
2
95
100
100
Bid. Ask.
m iscellaneous.
98
Acker Merrall & Condit.
Amer Air Power of N Y
American Axe & Tool...
American Bank Note Co
41% 44
87% 92%
American Air Brake Co.
9
Amer Grocery—1st pref.
Amer Malting Co—Com. " 21% 22%
71
73%
Preferred......................
Amer Pneumatic Tool Co
Amer Press Association. 100 110
200
American Screw.............
Amer Smokeless Powder
15
Am Soda Fountain—Com 10
B id.
Week's
R ange or
L ast Sale.
Range
from ,
Jan. 1 .
A sk . Low. High. No Low .H igh,
St Paul M & M—(C on)—
127 130
M ont C ls t g u g 6 s ....1 9 3 7 J - J *120 126 127%Feb.’98
115 Apr’97
R e g iste re d ................ 1937 J - J
108 109
1st guar gold 5s....... 1937 J - J *109 ........ 109 Feb.’98
R egistered ................. 1937 J - J
108% i.08%
E Minn 1st div 1st g 5s. 1908 A -O *108 ........ 108% Jan.’98
R egistered ........... . 1908 A -O
W ill & S F 1st g 5 s .... 1938 J -D *108 ........ 111 Nov’97
Registered . . . ............ 1938 J -D
St P & Nor Pac. See Nor Pac
StP & S’x City. See C StP M&O
S A & A P . See So Pac. Co.
100% Oct.’9'
S F & N P l s t s f g 5 s ...1919 j - j *100
104% Oct.’9’
Sav F & W 1st con g 6s. 1934 A -O ......
l s t g 5s.................... .-...1934 A -O ......
Scioto V a l& N E . See Nor & W
104% Feb.’98
104% 104%.
Seab & Roa 1st 5s.......... 1926
Sea & B Bdge. See Bklyn El.
S eatL S & E ls t g u g 6s. .1931
42
80
Trust reepts ass’ment paid. F -A ................... 80 Jan.’98
Sod Bay & So 1st g 5 s ... 1924 J - J ..................
’ Ö5
' 9 4 ” ‘ »s’ *
So Car & Ga 1st g 5 s .. . .1919 M-N ........ 96% "9 4 "
Southern Pacific Co—
107 107
107 Jan.’98
Gal Har & S A 1st g 6S.1910 F -A ......... 109
100 105
105
2d g 7s.........................1905 J - D *104 ........ 105
92
95%
95%
95% Sale 95%
M ex & Pac div 1st g 5s.’ 81 M-N
H ous & T C 1st W & N 7s.’ 03 J - J 125 ........
109% 110%.
1st g 5s int g td .........1937 J - J 109 111 109% 109%
Con g 6s int g t d ....... 1912 A -O 104 110 108 Dec’9“
78% 80
79
79%
79 Sale
Gen g 4s int g td .......1921 A -O
120 % 120 % .
Morgan’s La & T ls t g 6 s.’ 20 J - J *120%........ 120% Feb.’98
127 127
1st 7s.......................... 1918 A -O *129%........ 127 Feb.’98
N Y T & M exgu l s t g 4 s .’ 12 A -O ..................
75
75
75 Jan.’98
Ore & Cal l s t g t d g 5 s .1927 J - J
58
62%
58
59%
S A & A Pass 1st g u g 4 s .’43 J - J 58 Sale
111 Mar’97
T e x & N O 1st 7s.........1905 F -A
106% Nov’9
Sabine div 1st g 6s. .1912 M -S 105
96% 98%
98
98%
Con g 5 s .....................1943 J - J 98
100%104
102% 104
S o P o f A rg u l s t g 6s.’ 09-10 J - J 103
110 110
110 Jan.’98
S P o f Cal 1st g 6 s.’ 05-12 A -O
92% 97
96%
96%
1st con guar g 5s. .1937 M-N
85 Mar’98
85
87%
A & N W 1st g u g 5S.1941 J - J
S P Coast 1st gu g 4s.. 1937 J - J
108% 20 105%108%
S P ac o f N M ex 1st g 6 s.’ l l J - J 108 Sale 108
89
94%
89
91 IS
Southern Ry—1st con g 5s.’94 J - J 89 Sale
R egistered..............
1994 J - J
96 100
100 Feb.’98
•E Ten reor lien g 4-5s.l988 M -S
R egistered............... .1938 M -S
112% Aug’9’
A la Cen R l s t g 6 s .... 1918 J - J
A tl & Ch A ir Line inc. 1900 A -O
119 Dec’97
Col & Greenv 1st 5-68.1916 J - J
106%107
E T V a & Ga 1st 7 s... .1900 J - J 106 107 107 Mar’98
112%115
Divisional g 5s..........1930 J - J 112 1Ì4 113% 113%
109% 111%
Con 1st g 5s...............1956 M-N 110 Sale 109% 110%
118% 121
Ga Pac R y 1st g 5-6s. .1922 -J - J 119% Sale 119% 119%
116 117%
K n ox & Ohio 1st g 6s .1925 J - J 114% ...... 116 Mar’98
122 125
123
R ich & Dan con g 6s. .1915 J - J *...... . 125 123
101 Nov’9
Equip sink fund g 5S.1909 M -S
105 105
100 Nov’97
95
Deb 5s stam ped....... 1927 A -O
103% 105%
105 105% Mar’98
Virginia Mid gen 5 s .. .1936 M -N
103%106
105 103% 103%
Gtd stamped.......... 1936 M-N
84 Aug’9
W O & W 1st cy gu 4s.l924 F -A
112%116%
115% Jan.’98
W est N C 1st con g 6s.l914 J - J
S & N Ala. See L & N.
Spok & Palouse. See Nor Pac.
Stat Isl R y 1st gu g 4% s.l943 J - D
Sunb & Lewistn 1st g 4 s.l936 J - J
Syra Bing ¿ N Y . See DL&W.
110% 110%
110% Feb.’98
er A Of St L 1st g 4 % s.’ 89 A -O
106% 109%
107 Feb.’98
1st con gold 5s.l894-1944 F -A
103 Oct.’97
St L M B g e T e r g u g 5 s .l9 3 0 A -O
Terre H aute E lec R y g 6 s .’ 14 Qu-J
T ex & N O. See So Pac Co.
T&P R y East div l s t g 6s’ 05 )
109 1 1 0 %
From Texark. to Ft W . 5 M -S 106 ....... 110% Feb.’98
149 97 102%.
100
97 Sale 97
1st gold 5s..................... 2000 J -D
35
34% 720 28
31% Sale 81%
2d gold incom e 5s........2000 Mch
5 122 124
Third A v 1st gold 5 s .. ..19 3 7 J - J 123% Sale 123% 123%
1 0 2 % 104%
104% Feb.’98
Tol & O C l s t g 5s...........1935 J - J
103% 103%
103% Jan.’98
W est’n div 1st g 5 s... .1935 A -O
General gold 5 s............1935 J -D
79
82%
80 Sale 80
80
Kan & M 1st gu g 4s. ..1990 A -O
70
70
72
Tol P eo & W 1st gold 4s.l917 J - J 70 Sale
72%86
90
86 Mar ’98
86
T St L & K C 1st g 6s tr.1916 J - D
103% 104
102 103% Feb ’98
lster & Del 1st e g 5 s .1928 J -D
nion Elev. See Bklyn Elev
Un El (Chic) 1st g 5 s ....1945 A -O
90% 95%
90%
93%
Un Pac—R R & 1 g g 4s. 1947 J - J 90% Sale
Registered..................... 1947 J - J
100” 100”
100 Feb’98
Collateral trust g 6s.... 1908 J - J 1 0 0
75
83 Aug’97
Gold 5s....................... 1907 J - D
51
51
51 Feb.’98
Tr Co ctfs g 4 % s ....l 9 1 8 M-N
111% J’ne’97
Kansas Pacific 1st 6 s.. 1895 F -A
i ï é " i'22%
122% Feb.’98
Eng Tr ctfs ex-mat coups.
114 Sep.’97
1st 6s...........................1896 J - D
112 125
125 Feb.’98
Eng Tr ctfs ex-m at cou.
120 120
130% Feb.’98
Denv div assd g 6s. . . 1899 M-N
117 131%
131% Feb.’98
Eng Tr rets ex-mat cou.
84% 115%.
98
103
Eng Tr rets 1st c g 6s. ’ 19 M-N 1 0 0 Sale
65
C B Un P fd cou g 7 s .. 1895 M-N
30 Nov’97
A tch Col & P ac 1st 6s. 1905 Qu-F 32
32
33
39
35
35 Feb.’98
U P L & C 1st g u g 5s. 1918 A -O
48% 59
53 Sale 53
56
U P D&G 1st e g 5 s t r r c .’39
Uni N J R R &C Co. See Pa R R
Utah & North. See Ore S L.
Utica & Black R. See NY Gent
er Val Ind & W . See Mo P.
irginia Mid. See South Ry.
105%110
ab R R Co l s t g 5 s .. 1939 M-N 105% Sale 105% lOI
75% 82%.
71
75% Sale 75%
2d gold 5s............. 1939 F -A
Debenture series A .., . 1939 J - J
22% 29%
22%
22U
Series B....................... 1939 J - J 22% Sale
99 104%
1st g 5sD et & Ch E xt. .1941 J - J . . . . . . 103 104% Feb.’9i
110 110
110 Jan.’9£
St Chas Bridge 1st g 63.1908 A -O
Warren RR. See Dal L & W
W ash O & W . See Southern
106 108%
108% Mar’98
W e stN Y & P a —ls t g 5 s . 1937 J - J ........108
48
55
52%
52 Sale 51
Gen g 8-4s..................... 1943 A -O
10
16
13% 15% 13%
13%
Incom e 5s..............1 9 4 3 Nov.
West No Car. See South Ry.
T
U
Y
W
* No prices or sales on Friday; these are latest bid and asked prices this week.
(G i v e n a t fo o t of 8 c o n s e c u t iv e
OUTSIDE SECURITIES
P rice
F rid a y,
M ar. 11.
[Vol. LXVI.
p a g e s ) .-
-R. R. & MISCELLANEOUS.
Bid. Ask.
M iscellaneous.
Am. Soda Fount—(Con)—
55
65
40
25
Am Typefounders—Stock
American Graphophone..
Barney & Smith Car-Corn
miscellaneous.
Barney & Smith—(Con)—
Preferred.....................
67
6s 1942...................J&O 97
Bergn & Engel Rrew-Com
Preferred......................
40
45
1st 6s............................
Blackwell’s Durham Tob.
Bliss Company—Com......
85
Preferred.............. ..... 105
15%
15
15% 15% Bond & Mortgage Guar..
Bost & Montana 7s 1907.
Carter-Crume—Pref.
25
Celluloid Co............ ........
Ì8
15
70
100
75
100
115
50
82%,
THE CHRONICLE — BOXD
March I ^ 1898.J
BONDS.
IT. Y . STOCK EXCHANGE ■sf
as
W e e k E nding M ar . 11.
P rice
F riday,
M ar. 11.
Bid. Ask,
Western Pac. See Cent Pac.
W Chic St 40-yr 1st cur 5s. ’28 M-N
40-year con g 5s..........1936 M-N
West Shore. See N Y Cent.
W Va & Pitts. See B & O.
W Va Cent & P 1st g 6s. 1911 J - J
Wheeling & L E 1st g 5S.1926 A -O
*1 0 0
....
Trust Co certificates...........
Wheel Div 1st gold 5s.l928 J - J
Bxten & Imp gold 5s. .1930 F -A ' '92)4 Saie
Consol gold 4s............ 1992 J
Wilkes & Bast. SeeNYS&W
Wil & Sioux F. See St P M & M
Winona & St P. SeeCtN W
Wls Cent Co 1st tr g 5s .. 1937 J - J
Engraved trust certificates.
Income 5s....................1937 Ä-Ö
Week's
R ange or
L ast Sale.
IS*
R ange
fr o m
Jan. 1.
Low. High. N o. Low H igh
PRICES (5 pages) P age
BONDS.
N. Y . STOCK EXCHANGE *•.2
W e e k E nding M a r . 11. SS
Ö11
5.
Price
F riday,
Mar. 11.
Week's
R ange or
Last Sate.
Bid. A sk. Low. Hig h No.
Gr RapGLCo 1st g 5s.1915 F -A
ack W reor 1st g 5s.. 1926 J - J
end B Co 1st s f g 6s. 1931 M -S
111 Aug’97
Hoboken Ld & Imp g 5s. 1910 M-N
111 Steel Co deb 5s..........1910 J - J
Non-conv deben 5 s....1910 A -O
70 Apr ’97
101*é 101*6
100*6 101*6 Iron Steamboat Co 6s... 1901 J - J
101
101M
10094 103
Jeff&Clear C & I lstg5s 1926 J - D
107 May’97
77 Nov’97
2dg 5s......................... 1926 J -D
80 May’97
92*6
92*6
92*6 92*6 K C Mo Gas Co 1st g 5s. 1922 A - O
LacGas-L Co of StL lstg 5s’19
100 ........ 101
102%
7
Small'bonds........................Qu-F
Mad Sq Garden lstg 5s.1919 M-N
102 .T’ly ’97
ManBchH&Llimgeng4s’40 M-N
34 Nov’97
Met T & T 1st s f g 5s... 1918 M-N ..................
37
40W
33*6 4594
Registered...................1918 M-N
6*6 Jan.’98
5
7*6 Mich Pen Car Co 1st g 5s.’42 M -S
85 J’ne’97
Mut Un Tel Co. See Wn Un.
Nat Starch Mfg Co 1st g 6s ’20 M- N 106 Sale 106
106
9
NwptNewsS&DD
5s.l890-90
J
J
•Mis c e l l a n e o u s b o n d s .
N Y & N J Tel gen g 5s cy.’20 M-N
N Y& OntLandlstg6s.l910 F -A
m Cot Oil deh g 8s... 1900 Qu-F
106
106*4
106 109
NoWestnTeleg. SeeWest. Un.
m Dk &Imp 5s. See Cen N J
Peo Gas & C 1st gu g 6s.l904 M-N
111 Nov’97
Am Spirits Mfg 1st g 6s. 1915 M -S
69
69
69
77
2dgtdg 6s................. .1904 J - D ........109)4 109 Feb.’98
Atlanta G L Co 1st g 5s.l947 J - D
1st consol g 6s............. 1943 A - O ........120
ar &S Car Co 1st g 6s. 1942 J - J
119)4 Feb.’98
Ch G-L&Cke lstgug 5s’37 J - J 104)4 Sale 104)4 104% " ’2
os U Gastr ctfs s f g 5s.’39 J - J
90*4 Jan.’98
90*4 91
Con G Co of Chlstgug 5s’86 J -D *100 104 104 Feb.’98
B’klyn U Gas 1st con g 5s.. ’45 M-N 112« Sale 112
112*6
112 114*6
Eq G & F Ch lstgug6s.’05 J - J
Br’k’n W & W H lstg 5 s.l9 45 F -A ........ 98
107 Dec’97
96
96
96 100*6 Peoria Wat Co g 6s.. 1889-19 M- N
lahCoal Min. SeeTCI&R.
PI Valley Coal 1st g 6s.. 1920 M-N
/GL& CCo. SeePG&CCo.
Proctor & Gamb 1st g 6s. .’40 J - J
Chic Jc& St Yd col g 5s.. 1915 J - J *105 ...... 109*6 Feb ’97
109*6 109*6 St L Ter Cupples Station &
Clearf Bit Coal. SeeNYC&H
Prop Co lstg4*6s 5-20 yr’17 J -D
Col C & 1 1st con g 6s.. .190 0 F -A
98 100
98
98
95 100*6 S Yuba Wat Co con g 6 s..’23 J - J
101 Feb ’97
Col C & I Dev Co gu g 5s.. 1909 J - J
Sp Val Wat Works 1st 6s.’06 M -S
Coupons off..........................
Stan Rope & T 1st g 6s..1946 F -A
56
Sale
56
56
Col Fuel Co gen gold 6s. 1919 M-N
104 Jan.’98
3
100 104
Income g 5s.................1946 ........
12 Sale 12
12
Col F & I Co gen s f g 5s. 1943 F -A
81 Feb.’98
6
8094 84
Sun Ck Coal 1st g s f 6s..l912 J -D
Columbus Gas 1st g 5s.. 1932 J - J
T C I & R T Div lstg6s.l917 A -O * 8 4 ........ 84 Feb.’98 .. .j.
Com Cable Co 1st g 4s.. .2397 Qu- J
105*6 Feb.’98
104 105*6
Blrm Div 1st con6s...1917 J - J 84 Sale 84
.84
Registered................. .2397 Qu-J
104 Feb.’98
104 104
Cah C M Co 1st gu g 8s..’22 J - D
Con Gas Co. SeePG&CCo.
De Bar C & I Cogug 6s.’10 F -A
83 Jan.’98
e Bardel C & I. See T C &I.
U
S
Leath
Co
s
f
deb
g
6s.’13
M-N
*115 ........ 116
116
el & H Can. See BR bonds
"3
Vt Marble 1st s f 5s...... 1910 J - D
Det Gas Co con 1st g 5s.. 1918 F -A ........ 99 100 Feb.’98
96 103
West Union deb 7s. .1875-00 M-N *105 ........ 105)4 Feb.’98
d El 111 1st conv g 5s. 1910 M -S
109*6 Mar’98
109*6 11294
Registered....... 1875-1900 M-N 105 Sale 105
1st con g 5s........... 1995 J - J i l 5 Saie 115
105
'5
115
115 117
Debenture 7s.. . 1884-1900 M-N *105 ........
Ed El 111 B’klyn 1st g 5s. 1940 A -O
113*6 J’ne’97
Registered...... 1884-1900 M-N *105 ........
Registered.......................... A -O
Col trust cur 5s.......... 1938 J - J 110 Sale 110
110
Erle T &T col tr g s f 5s... 1926 J - J 9 7 *4 .....
2
98*4 98*4
M utU nT elsf’d 6 s ...1911 M-N
112 Dec’97
Eq Gas L N Y 1st con g 5s. . ’32 M -S
102 Feb.’98
102 102
Northwestern Tel 7s... .’04 J - J
Bq G & Fuel. See P G & C Co.
Westn Gas Co col tr g 5s...’33 M- N
en Elec Co deb g 5s. .1922 J -D 101*4 102 101*4 101*4
100*410194 Wh L E & P C Co 1st g 5s.’19 J - J *102 ........ 103 Sep.’97
r Riv Coal & C 1st g 6s..’19 A -O
95*| Jan.’97
Whitebrst F gen s f 6s. .1908 J - D
■*i
‘ No prices or sales on Friday; these are latest bid and asked prices this week.
’
R ange
fr o m
Jan. 1.
Low H igh
H
" 99” Dec ’97
101
105)4
...............
**'* •••••«
105
10694
A
B
Ì06 109
116)4 120
104)4 106)4
103 106
C
B
E
..................
***** ******
0000
•30»
0000
56
6Ì94
11)4 10«
83
83
11434110
105)4 105)4
105 105«
109
G
ill
* **.*♦
NEW TORE STOCK EXCHANGE PRICES. - S T A T E B O N D S M A R C H 11.
State Securities.
Bid. Ask.
Ala—Class A 4 to 5.. 1906 108)4
Class B 5s............. 1906 107
100
Currency fund 4s..1920 100
Ark—6s fd Hoi. 1899-1900
Distof Colum—3’65s...’24 Ì17
State Securities.
OUTSIDE SECURITIES
M iscellaneous.
Bid. Ask.
'Central America Transit.
Central Fireworks—Com. " 3 "
Preferred......................
31
Chateaugay Ore& Ir 6s ’ 15
40
Ches & O Grain El—Inc.. 10
17)4
4s..................... ..........
60
65
•Chesebrough Mfg Co....... 365 380
Claflin (H B)—1st pref...
93
2d preferred.................
93
Common—See N Y Stoc
Exc h.
Clark Mile End Thread...
Collins Co.........................
Comstock Tun—1st inc...
Consolidated Car Heating 30
35
Consol Fireworks—Com..
10
Preferred...................... 27« '
Con Kan C Smelt & Refin
97*4
Consolid Rolling—Stock..
Cramps’ Ship & Eng Bldg. 60 " 65 *"
Diamond Match Co......... 185 137
Dixon Crucible................
‘Ensley Land....................
JBppens Smith & Wiem... ........ .75
Eastman Kodak Co.........
95 100
¡Erie & Western Trans__ ........ 43
Fidelity & Casualty.........
.Fidelity & Deposit (Balt).
'Galveston Wharf—1st 5s
■•Genesee Fruit...... ........ .
German Amer Real Est..
Glucose Sugar Refln-Com 39
40
Preferred.....................
92
93
Goodyear Shoe Machin’y.
Gorham Mfg Co—Com....
90
Preferred...................... 112 115
Great Falls Ice................. 107
Hartford Carpet Co..... ,
Hecker-Jones-J. Mill-Pref 40
45
1st 6s 1922,......... M&S ...... . 90
-Herring-Hall-Marv—Com
Preferred...... ...............
5* J*
'Hoboken Land & Imp’t . . 100 ....
5 s ........... ...................... 105*4 ....
International Elevating..
International Navigation
52*4
International Pulp......
Iron Steamboat.........
5
-2*4
6s 1901................. J&J
63
John B Stetspn—Com....
50
Preferred...................... 1 0 0 110
■Journeay & Burnham....
16
22
Preferred......... ...........
62
72
Knickerbocker Ice...........
90
Bonds-5s...........; ..........
95
Lawyers’ Surety
Lawyers’ Title Ins........
Litho Carbon Rubber__
Lorillard (Pierre)—Pref.. 114*4 117
Madison Sq Gard—Stock.
3
2d 6s 1919...... ...M&N
25
40
Mechanical Rubber—Com
6
12
Preferred...................... 20
30
Mergenthaler Linot—See Bosto n list
Bid. Ask.
Louisianar—7s cons..1914
Stamped 4s.................
New consol 4s...... 1914 ioo
Missouri—Fund.. 1894-95
North Caro—6s old.. .J&J
Funding act.......... 1900
New bonds J&J1892-98
Chatham RR...............
(G iv e n
A T FOOT OE
Miscellaneous.
Bid. Ask.
Meriden Britannia Co__
55
60
Miehigan-Pen Car—Com
7
11
Preferred—See N Y Sto< k Exc h.
1st 5s 1942...........M&S
86
90
Minneapolis Brew 1st 7s. 100 104
Mosler Safe Co................
Monongahela Water......
84
36
Nat Biscuit (when issu’d) 21
21%
Preferred......................
77
78
National Casket Co.........
60
80'
National Saw—Preferred.
25
National Surety.............. 215
Nat Wall Paper—Deb Stk
54
N Y Loan & Imp....
50
N Y Biscuit.............
64)4 65)4
6s 1911................. M&S 106 108
New Jersey Zinc & Iron.. :ioo
N Y Air Brake—See N Y S rock E xch.
Nicholson File Co...........
48% 50)4
Nicaragua Construction..
5
9
Peck, Stow & Wilcox......
Pegamoid (£1 shares)__
Pennsylvania Coal—See N Y St’k Exch
Pennsylvania Salt Mfg... 105
Penn. Steel 5s 1917.M&N
Penn. Water—Common... 10
12
Phil & Wil Steamboat__ 130 142%
Pneumatic Gun Carriage. 50
55
Pratt & Whitney—Com..
5
11
Preferred............... .
45
55
Procter & Gamble........... 210 215
Preferred..................... 158 165
R. I. Perking Horse Shoe.
6
12
Preferred.....................
40
56
Russell & Erwin..............
Safety Car Heat & Light. 92
95
Schwarzchild & Sulzberg.
55
Semet-Solvay deb 5s...... ids 104)4
Simmons Hardw’re—Com 105 109
Preferred...................... 115 120
Singer Mfg Co............... . 320 860
Standard Oil.................... 359 361
Standard Underg’d Cable 103 106
SlossI&Slstös 1917.F&A 92
Southern Cotton Oil
15
SO
Stat Isl R T 1st 6s’13A&0 107
2d 5s"1926............ J&J
60
76
Stillw-Bierce & Smith-V. 70
80
Swift & Go......... .............. 93
96
1st 6s............................ 103
Susq Coal 6s 1911__ J&J 115
Texas & Pacific Coal
45
50
1st 6s 1908........... A&O 100
Term Warehouse—Stock.
10
1st 6s............................
72«
Debenture 6s......... .
72y
Title Guar & [Trust......... 293 300
Trenton Potteries—Com.
8
12
Preferred...................... 47
51
Trow Directory—Pref....
37
42
Union Switch & Signal...
30
33
Preferred.....................
50
59
Union Typewriter—Com.
6
8
State Securities.
State Securities.
Nor Car—Spec tax Class I
Consol 4s................1910 103
„ Os............................1919
Sou Caro—4*6s 20-401933 103 ’
6s non-fund...........1888
Tennessee—6s old.’92-98
6s, n bds.. 1892-98-1900
Do new series . 1914
8 CONSECUTIVE p a g e s ) . —
M iscellaneous.
Union Typew’r.—1st pref.
2d preferred.................
U S Glass—Common.......
Preferred.................
Tennessee—
Compr’mse 8-4-5-6s..’12
New settlement 8s.l918
Redemption 4 s ....1907
Do
4*6s. ..1913
Penitentiary 4*6s. . 1913
Virginiafd debt 2-3s..’91
6s def tr rects stamped.
Ask.
90
MISCELLANEO US.
Bid. Ask.
Miscellaneous.
Bid. Ask.
89
92« Westinghouse Air Brake. 215 230
80 1 85 1 Willimantic Linen Co....
18
20
30
82
Wool Exchange of N Y .. 110 117
70
90
Worthington Pump—Com 20
23
100
Preferred................... .
87
90
163 J165 1
BANKS AND TRUST COMPANIES.
Banks.
Bid. Ask.
N. Y. CITY.
America*__
Am Exch....
Astor..........
Astor Place* 220
Bowery*...... 300
Broadway.... 225
Butch’s&Dr..
Central.......
Chase..........
Chatham__
Chemical......
Citizens’ ...... 125
City............. 900
Clinton*.......
Colonial*__ 105
Columbia*... 150
Commerce... 204
Continental. 125
Corn Exch*.. 280
East River.. 125
11th Ward*.
Fifth........... 2900
Fifth Ave*. 220
First............
First (St Isl) 125
Fourth........ 180
14th Street*.
Franklin......
Gallatin...... 300
Gansevoort*.
Garfield........ 800
German Am* 115
German Ex*. 250
Germania*... 315
Greenwich*.v 165 i
Hamilton*... 120
Hanover...... 390
Hide & L’ath 85
Home*......... 150
Hudson Riv*
Imp & Trad.
Irving......... 140
Leather Mfr. 170
Liberty....... , 135
Lincoln.... . . 750
Manhattan*.
Market &Ful
Mechanics’ .. I
325
250
100
175
140
ma
210
Banks.
Bid. Ask.
Mech & Tra*
Mercantile ..
Merchants’ ..
Merch Exch. 115
Metropolis*.. 425
Mt Morris*..
Mutual*.......
Nassau*.......
New Amst.*.. 245
New York.... 235
NewYork Co. 800
N Y Nat Ex..
Ninth...........
19th Ward*.
North Amer.
Oriental*....
Pacific*........
Park............ 30
Peoples’* __
Phenix........ 90
Plaza*.......... 175
Prod Exch*.. 114
Republic.... 155
Riverside*... 155
Seaboard.... 174
Second........ 820
Seventh.......
Shoe & Le’th
Sixth......... .
Standard....
State* ......... 100
IState of NY*
Tradesmen’s 110
12th Ward*. 125
23d Ward*... 100
Union........... 230
Union Sq*.... 175
Western...... 150
West Side*.. 270
Yorkville*.. s 170
113
Î.46 '
110
125
245
’ 80 ‘
190
290
Banks.
Ger Amer*.. 90
Hamilton*... 105
Kings Co*....
Manufaet’rs. 250
Mechanics*.. 240
Mech & Tra*. 255
Nassau........ 280
Nat City...... 335
North Side*.. 175
People’s* .... 190
Scherm’rh’n* 140
17th Ward*. 103
Sprague ......
26th Ward*.. 135
Union*.........
Wallabout*.. 1ÖÖ*
Trust Cos.
N. Y. CITY.
290
Atlantic Tr.. 135
Central Tr’st. 1375
122
Colonial....... 195
165
Continental. 180
Consolidat’d.
Farm Ln &Tr 870
150
Fifth Ave Tr 350
190
Guaranty Tr 450
160
Knick’rb’ck’r 220
85
Manhattan.. 150
Mercantile .. 420
105
|Metropolitan 310
N Y L I & T r 1200
|N YSec&Tr 360
Produce Ex. 200
Real Est Tr’t 200
State Trust.. 200
Union Trust. 1020
USMtg&Tr. 280
Unit. States.. 1170
Washington. 225
BR’KLYN.
525
BR’KLYN.
Brooklyn Tr. 400
Bedford*.... 215
Franklin...... 235
180 ' Broadway*.. 190 2 0 0
Hamilton__ 235
Brooklyn*... 140 150
Kings Co...... 281
8th Ward*...
95
L Isl L & Tr. 220
5th Ave*.... 104 107
Manufact’rs. 235
First............. 400 410
Nassau........ 155
Fulton*....,. 180 200
People’s...... 252)4
* Banks marked with an asterisk (*) are State banks, i
265
340
190
195
150
115
215
145
100
105
208
21Ö'
297)4
410
240
245
158
THE
5 )2
ttUNTON, PHILADELPHIA
CHRONICLE
[Voti, LXA I,
AND BALTIMORE STOCK. EXCHANGE
Bales
of the.
av
Week,
11.... Shares-
gp* Sitai*« P ;i o e s ~ n o t S*©r Centum Prie«*
Active © lo c k »,
f Indicates unlisted
Saturday,
Mar. 5.
Monday,
Mar. 7.
Inactive Stock!«
MISCELLANEOUS.
AllonezMln’g.asstpdfBosfonf. 25
Amer. Ry. El. Light.. (P h ila .).......
Atlantic M in in g ...... (B oston). 25
Bay State Gas I f .. ....
“
50
Boston L a n d .........
“
10
Centennial M ining...
f*
25
Fort Wayne Elect. 1[..
“
25
Franklin Mining.. . . .
“
25
Frenohm’n’ sB ayL ’d.
“
5
Kearsarge M ining....
“
25
Marsden C o ..............(P M la .).........
Mei genthaler Llnot.. (B oston ). 100
Osceola M in in g ......
“
25
Pullman Palaoe Car.
“
100
Pennsylvania Steel.. (P hila.).100
’ ^Preferred I T .........
“
100
Quincy Mining.. . . . . . (Bo*fon>. 25
•amaraok M ining....
“
25
u ater P ow er............
“
100
Westingh. Elec. A M ..
50
Pref., cumulative.
“
50
At.Top.*A S.^F?general g. 4s, 1996
Adjustment g. 4s, 1 9 9 5 . . . . . . . . . .
Boaton ‘n'nit«8
« 1 Kg
92%
90%
9%
29
100
21%
140%
5%
67
31
46%
21
40
127
92 *93%
91% 92%
9% 10
29% 59%
99% 99%
21% 21%
90%
91
*9%
29%
99
21
5%
5%
35
35
90
88
88
*88
82
22% 23
22%
225«
59%
6 % 61%
60%
187
186% 186% 187
57%
57%
57% 57%
8?.3g 82%
82%
82%
9%
Sxie 93,e 8 ,5ie
26%
27
27%
27%
15%
15%
15% 15%
” *5% " 5 %
124%
111
251
183%
22%
520
126
111%
255
185%
23%
525
78
55
55
17% 17%
19
19%
21
21
66% 67
32%
32
124%
111
251%
186
23
521
126%
112
254
188
23
521
---»
55
55%
17% 18
21
23
123%
111
249
183
21%
522
55%
*17%
22
26
67
32%
68
68
32% 32%
*90
*47
*47
50
49
49
21% *21
21% 21% *21
40
40% 40%
40 * .......
125
126 126
125 125
109% 110% 109% 111’ 108
___ ,
39
38
40%
n
*1
*1
1%
1%
1%
125%
111% 111
253
185%
23
522
*73
55%
f5
18%
24%
26%
67%
66
31
33
____
89
49
46
2L
40%
40
125
125
*20
ilo "
41
1%
*1%
Bid.
Atlantic^Glfy I s l'J s f g .^ l ^ ^ MAN
Buffalo Ry. con. 1st, 5s......... .1931 .........
Catawissa, M., 7 s ..„„„.1900, FAA
,Choc. Okla. A Gulf, prior lien 6 s..
! General 5s.................... 1919, JAJ
89
Citizens’ St,Ry.of lnd.,oon.5s,1933
Columb. St. Ry„ 1st, con. 5s.. 1932 .........
Columb. O. Crosstown, lst,5s.l933
Consol. Tract, of N. J., Ist,5s.l933 102
Del. A B’d Br’k, 1st, 7 s.l9 0 5 ,F A A ........*
EaBton A Am. lstM .,5s.l920,M A N
Elec. A People’s Trac. stock, tr. otfs
Elmir. AW ilm., 1st, 6S.1910, JAJ. 121%
Hestonville M. A F., con. 5s..1924 116%
Hunt. A B r’d Top,Con.5s.’95,AAO
K. C. Sub. Belt 1st 6 s...1920, JAD
KamC.Fitts.A G .la t5 s.l9 2 3 , AAO
Lebigb Nav. 4%a...„„„„1914, Q—J 114
i RR. 4s, g., 1914............ ....... Q—F
l General mort. 4%s, g .l9 2 4 ,u —F
Lehigh Val.Coal 1st 5s, g. 1933,JAJ
Lehigh Valley, 1st 6 s ...1898, JAD 104%
| 2d 7 s ............................. 1910, MAS 125
I Consol.6 ............ .........1 9 2 3 ,JAD 116%
Newark Passenger, con. 5s... 1930 110
North Penn. 1 st, 4 s....1 9 3 6 , MAN
1 Gen. M. 7s............... ...1 9 0 3 , JAJ
Pennsylvania g e n .6 s,r..l9 1 0 , Var 130
Consol. 6e, - ...................„..„.1905, Var
Consol. 5e,r _________1919, Var
Coll at. ’»’r. 4% « ...........1«13..TAD
Pa. A N. Y< Canal, 7 s ...1906, JAD
§ And accrued interest
Range of sales In 1898
Lowest
High«-»»
11
1.072 1 0 % Feb. 24 13% Feb
11
11%
12% Jan. 11 17% Feb
17% *16% 17%
72
*70
7 1 - - 2S0 66 Jan. 4 75% Feb.
22% 23
2,744 22 % Mar. 11 24% Feb.
23%
2 2 % 22%
729 ¡¿2% Mar. 1 1 24% Feb.
23%
188 219% Jan. 3 225% Feb.
222 222%
222
63 219 Jan. 4 225 Jan.
220 220
222
47 161% Feb. 25 1 7 1 % J an.
163% 163%
165
50
8 % Mar. 8
*8%
9%
9% Jan.
—
*53
54 J an. 3 56 Jan.
55
27,209
89%
*92%
91%
89% Mar. 1 1 103% Feb.
91%
89% s o £ 11,050 89% Mar. 7 97% Jan.
1,825
9%
9 Feb. 25 l l % Jan.
9%
10
2934 29
1,0 l l 27% Jan. 4 33 Feb.
29%
461 98% Jan. 3 100 Jan.
99
99
S9
1,463 20% Feb. 25 26% Jan.
2 '% 21
21%
58 130% Jan. 3 169% Feb.
138 139
660
5% Jan. 24
5%
5%
5%
6% Jan.
10 35 Feb. 14 35% Feb.
3<i
*25
211 80 Jan. 10 93 Feb.
88
88
88
*78
80
76% Jan. 14 8 1 % Feb.
4.963 19 Feb. 24 28% Jan.
2 0 % 21%
22%
6,618 58% Jan. 5 68% Jan.
61
58% 59%
1 14 186% Mar. 8 193 Jan.
18 r 187
187
6.93P 56 Feb. 24 60% Feb.
56% 5 7%
57%
6,440
78% Jan. 3 85% Feb.
82%
8 ' % 82%
8% Mar. 1 » 11% Jan.
9
8% 8 1®,« 13,145
7.602 25 Mar. 7 36 * Feb.
25% 26%
27%
14% 15% 11,283 12% Jan. 3 17% Feb.
15%
124% 46,142 120% Feb. 24 144% Jan.
261 110 Feb 24 116% Jan.
111%
872 246 Mar. 11 272% Jan.
250
182% 11,560 149% Jan. 4 191 Mar.
21,16
20 Mar. 11 28% Feb.
22
96 489 Jan. 3 540 Mar.
521
75 Mar. 3 75 Mar.
'6
2.596 52% Jan. 1C 57% Jan.
55%
16 Mar. 7 24 Jan.
3,255
18
2,36“ 19 Mar. 5 29% Jan.
21%
645
21 Mar. 8 32 Jan.
24
657 66 Mar. 1 1 72% Jan.
66%
31%
1,605 30% Mar. 7 39% Feb.
2 84 Jan. 3 96 Feb.
89
477 4-> Mar. 7 55% Jan.
47
2 i 9 20% Jan. 10 22% Feb.
21%
40
140 39 Mar. 4 43% Jan.
127
66 125 Mar. 7 1 3i Feb.
14 18% Jan. 3 24% Jan.
22%
9,623 97% Feb. 24 l l - % Feb.
107%
2,200 33% Feb. 8 42 Jan.
39%
1% Jan.
1 Jan. 13
1%
} Trust reo.,all instai paid.
Bonds.
Ask
70
Boston United Gas, 2dm . 5 s ..1939 § 68
¡Burl. A Mo. River Exe mpt 6s, JAJ «118 119
Non-exempt 6 e.......1 9 1 8 , JAJ |1C8 109
99
Plain 4 s . . . . . . . . . ...........1910, JAJ § 97
Ohio. Burl. A Nor. 1st 5,1926, AAO §105, 106
i 2d mort. 6 s . . . . . . .....1 9 1 8 , JAD L00% 102
98% ICO
.Ohio. Burl. A Quincy 4s ., 1922,FAA
Iowa Division 4 s ..„ ..1 9 1 9 , AAO Ì101
68
¡CMc.AW.Mioh. gen. 5s, 1921, JAD § 65
65
¡Consol, of Vermont, 58.1913, JAJ § 60
80
Current River. 1st, 5 s..1927, AAO i 70
79%
Det.Gr.Rap.A W .,lst 4s,1946.AAO § 78
Eastern 1st mort 6 g.1906,M AS.. 4118 119%
Eree,Elk. AM .V.,1st, 6s.l933, end. §137 ____
Unstamped, 1st, 6s, 1 9 3 3 ...____ §137
80
K.C. C. A Spring., lst,5 g„1925, A AO § 70
K O. F .S .A M . eon. 6s, 1928, MAN (102 103
81
K.C. Mem. A Bir., 1st,2s,1927, MAS * 80
§120
K.
C. St. Jo. A C. B ., 7 s ..1907,
JAJ121
L. Rock A Ft S .,1st, 7 s ..1905, JAJ § 97 100
LoniS.,Ev.ASt.L.,lst,6g.l926,AAO §100 103
87
2 m .,5—6 g ............ ...1 9 3 6 ,AAO § 85
Mar. H. A Ont., 6 s.„...1 9 2 5 , AAO §110 111
Mexican Central,4 g . .. 1911, JAJ § 61% 64
14% 15%
1st oonsoLincomes, 3 g, non cum.
4%
5
2d consol, incomes. 3s, ncn-oum
§118
119
N. Y . A N.Eng,, 1st, 7a,1905, JAJ1
I 1st mort. 6 s . . „„. 1905, JAJ §112 112%
Ogden. AL.C., Con. 6 s ...1920,A AO § 94 100
15
I I n c .6 s .„„ .„ ................. „ „ ....1 9 2 0 |___ _
Ba tland, 1st,6s.......... „1902,MAN §106 107
§ 99 100
| 2d, 5 s ..„ ......... ....1 8 9 8 ,FAA
Price includes overdue ooupons. 1 Unlisted.
n%
11%
17% *17
*70
72
23%
23%
23%
23%
222
-222
524
166
165
......... .......
Bonds.
Aak
277
56
21
11%
* ___
*71
23
23%
*221
*220
166
....
"9 1 % *93
92
91
9%
9%
29% 29%
99% 10«
20% 21%
88
H
r
2 1 % 21%
60%
60%
192
186%
57%
57%
81%
82%
8% 815, „
26%
26%
15%
15%
124
112
258
183
v3%
521
80
55
17
11%
17%
72
23%
23%
221%
22 2
165
8%
Thursday
Mar. 10
#
00
0
H
P rices o f M arch 11.
Atlanta & Charlotte (B alt.). 100
Boston A Providence (Boston).ICO.
“
100
Boston Elevated.......
Catawissa........Phila.). 60|
1st preferred. . . . . . .
“
50
Central O h i o .......... (Balt.) 50
Chicago A, West Mich. (Boston) .100
Citiz’ns St. Ky.oflnd.H fPAita.j 100
Connecticut A P ass..(.Boston/. 100,
Connecticut R iv e r....
“
1001
Consol. Tract.of N.J.1T(PAiia.).lOO!
Flint A Pere M a rq ...(Boston). 100!
Preferred.. ...........
“
100!
Georgia Sou. & Fla. (B alt.) .100
1st preferred.. . . . . .
“
100!
2d preferred............
“
100
Hestonville PaBseng. (P h ila .). 501
Preferred H..............
“
50
Hunt. A Broad T op ...
“
50j
Preferred.................
“
501
Kan. C’yFt.B. A Mem. (Boston). 100
Preferred......... .
**
100
Little Sohuylkill......... (Phila.). 50
Maine C e n tr a l.......(B oston) 100
Mine Hill A S.H&ven.(Phila.) . 50
Neaqnehoning V a l. . .
“
50
North Pennsylvania.
“
50
Or.Sh.Line all asst.pdfBosfo«^.100
Pennsylvania A N. W. ( Phila. ). 50
Philadel. A E r ie ......
‘
50
West E nd.. . . . . . . . . . . .(Boston). 50
Preferred...................
** 50
United Cos. of N. J .. rPAiia,>.100
West Jer sey A Sea 8h.
•“
50
Western N.Y. A Penn
“
100
Wisconsin Central..-CBoston). 100
Preferred...................
“ 100
W ore’st.N ash. ARooh.
“
ICO
10%
11%
16% *16%
72
73
23%
23%
23% 23%
222% 221%
222 *
Ì65
165
8%
10
0>M
COCO
10%
100 *11% 11%
ICO *17% 18% *15%
72% *72
25 *
Balt. City Pass’ger “
24
25
24
23%
Baltimore Consol. **
____
23
BaltimoreConsoLIT (Phil.). 25
222%
Boston A Albany (Boston). 100 ||223 225
222
100 '222
Boston & Lowell
“
165
100 *165 170
Boston A Maine.
*8%
100
*8% 10
Central of Mas?..
“
100
Preferred....... .
"
100 93% P4% 89%
Ohio.Bur.A Quin.
**
92%
89%
Ohio.Mil. A St. P (Phil.). 100 92
10
9%
10
50
hoc.Okla AGulf
“
29
30
5« 30
Preferred.........
"
99%
Fitchburg pref.. ( Boston)..ICO 99% 99%
20%
22
Lehign‘Valley.. (Philo./. 5u 22
140%
109
Metropol’n Str’tli
"
5%
5%
5%
Mexican Cent’ l (B oston). 100
.. _
100
“
New England___
88
91
100 “89
Preferred.......
“
*79
Northern Central ( B a l .). 50 *80
20%
Northern Pacific ( Phila.) ICO 22% 22%
59
100
61% 62
-■aPreferred
Old Colony___ (Boston) 100 'ISO 192 * .
58
57
58
Pennsylvania ...(P h ila .). 50
80%
50 82% 82%
Philadelph. Trao.
“
93,
93,e
8%
50
“
Reading Co.........
27% 28°» 25
Onion Pacifict. . / B oston ). 10«
50
15%
15
15%
Onion Traction.. ( P h ila .).
OTIscellaneona S to c k « .
Am.Sug’r Refln.H ( B o s to n )... 12530 126% 121%
111
112 113
, Preferred.......
“
251%
Bell Telephone..
*'
100 260 260
179
Boat. & Montana
“
25 185 186
21%
24
24%
Bntte & Boston.} . “
521
Calumet & Hecla
“
25 *520
80
Canton Co . . . . . . (B a lt,).100 *75
" 5T *
55% 56
Consolidated Gas
“
100
16
18
18
Dominion Coal.(B oston). 100
20
19
Elec.Btor. Bat’yV (Phila.) .100
22
22
Preferred IT
“
100
66 %
68
68
Erie Telephone.(B oston). 100
32
32
General Electric.
"
100
30%
-90
Preferred ___
100
" 45"
47 ‘ 47’
“
100
Illinois S teel__
21
Lam son StoreSer
“
60
21% 22
40
40
40
Lehi’hCoal&Nav. (P h ilo., 50
125
Cl E.Telephone.(B oston). 100 126 130
21
2 1 % 21%
_ Pa.Heat.L.&PowfjP/iiia.;....
' unit’d Gas Imp. 11
“
50 110% 110% 106
Welsbaoh Light 1i
“
5 37% 37%
*1
1%
West En d Land.. (B oston)—
* Bid and asked prices; no sale was m ade.
Tuesday, Wednesday
Mar ?•
Mar. 8. ,
Pa.AN. Y.Can.,con. 5s.l939, AAO
People’s Trac. trust certs. 4s.. 1943
Perkioxner, 1st s e r.,5 s.l9 18 , Q—J
Phila.AEriegen.M. 5g.,1920, AAO
Gen. mort., 4 g
. 1920, AAO
Phila A Read. 2d, 5 s ... 1933, AAO
Consol, mort. 7s....... „1911, JAD
Oonsol.mort 6 g.„„„„„1911, JAT
Ext. Imp. M. 4s, g., 1 9 4 7 ..AAO
Con. M. of 1882, 4 s.__ 1937, JAJ
Terminal 5s, g ___ „.1941, Q.—F.
Phil. Wilm. A Balt., 4 s. 1917, A AC
Pitts. C. A St. L., 7 s.__ 1900. F&A
Beading Co. gen. 4 s .....1 9 9 7 , JAJ
Rochester Railway, con. 5s ..1930
Sohuyl.R.E.Side,l8t 5 g.1935, JAI
Union Terminal 1st 5s..„„„„. F&A
Baltimore Belt, 1st, 5 s.1990, MAN
Balt. C. Pass. 1st 5 s .... 1 91 1 ,MAN
Balt. Traction, 1st 5s.,.1929, MAN
Exten. A inapt. 6 s.„„.1901, MAS
No. Balt. Div., 5s____1942, JAD
Baltimore A Ohio 4 g., 1935, AAO
Pitts, A Conn., 5 g ,...1 9 2 5 , F A i
Staten Island, 2d, 5 g.1926, JAJ
Receivers' certificates, 6s..JA D
Do. Maryland Construe., 5s.......
Do. Pittsb. A Connells., 5s..JAJ
Do. Main Line 5 s ....................
Bal.AOhlo S.W .,lst,4% g.l9S0, JAJ
0apeF.AYad.,Ser.A.,6g.l916, JAD
Bid
104
12Ò*
168
•
105
102
.......
130
124
ibo
lo 2 %
1 17 ^ 118
107
"98*
108
108%
120
91
115
115
105
115%
103
115%
116
106
116%;
65
102
98
103
100
100
100
70
100%
101%
74
109%
Cent. Pass.ext. A imp. 5r .1932, MAS
City A Sub., 1st a s ..„.„.1922, JAD
Chari. Col.AAug.ext.5s. 1910, JAJ
Col. A Greenv., 1st 5-6s. 1917, JAJ
90
Georgia A Ala., 1st pf. 5s.l 945,AAO
80
Ga.Car. A Nor. 1st 5 g ..!9 2 9 , JAJ
Georgia Pac., 1st 5-6s...l& 22, JAJ
Geor. So. A Fla., 1st o s.. I f 45, JAJ
103
. . . . . . Metrop. St. (Wash.) 1st 5s ’25, FAA
North. Cant. 6 s . . . . 1900, JA*
6s........................ ...........1904, JAJ
Series A , 5 s . .„„. 1926, JAJ
122
4 % s ................ .............. 1925, AAC
Pitts. A Connells. I s t7 s .l8 9 8 , JA.l
Pitts. United Trac., 5a.. .1997, JAJ
2d Ave. Trac. (Pitts.) os, 193 4,JAD
Virginia Mid., 1st o s ...1906, Mae
2d Series, 6s____ ......1 9 1 1 MAI
3d Series, 6
s
. 1916, MA£
4th Series, 3 -4 -5 s ,....1 9 2 i, MAi
95
5th Series, 5 s ..„„„.„„„1926. MAf
IWest Va. C. A P. 1st, 6 g. 1911, JAJ
¡Wilm. Col. A Aug., 6 s ..1910, JA I
......
111
Ì¥é’ *
118 %
I
ita
114%
1C6
115
104
88
118
100%
115
107
106
117
110
1C0%
100%
108
116
114
95
102
109
116
115%
104%
90
. _
101
......
100%
109%
.•„«a
110
M ISCE LLAN EO U S.
Baltimore Funding 51.1916, MAi
Exchange 8 % s . 1830, JA.
Virginia (State) 3 s lu e w .l9 32 , JA.
Funded debt, 2 -3 s .....l& 9 1 , JA.
OheaapeaxeGaa.6s..„. .1900, JAI
Consol. G as,«<•__ „„„„...1910, JAJ
122 123
105%
77
79
69
68
106 .........
119 119%
107% 1108 h -
M arch
THE
12, 1818, J
%
R oads ,
u m s tm z n t
AND
il a ilt o a f l
I n t e llig e n c e .
RAILROAD EARNINGS.
The following table shows the gross earnings o f every
s t e a m railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the
gross earnings for the latest week or month, and the last two
columns the earnings for the period from January 1 to and
including such latest week or month.
The returns o f the street railw ay s a r e brou g h t together sepctrjue.y on a subsequent page.
R oads
Latest Gross E arnings.
WeeleorMo 1897-98.
1896-97.
21,482
14,967
Adirondack....... January...
32,595
33,375
Ala. Gt. South.. 4chwkFeb.
Ala. Midland. .. December.
57,246
68.799
Ala. N. O.Tex. & Pac. Juno.
N. O rl.& N . E. February. 114,462 107,141
49,389
59,663
Ala. & Vioksb. February.
49,403
61,439
Vioks. Sh. & P February.
212,760
177,398
Allegheny V al.. January...
23,914
30,536
Ann Arbor......... lstwkMcli.
14,036
Ark. Midland... December.
12,408
Atoh.T. & S.Fe.e January... 2,860,448 2,463,930
Atlanta & Char. December. 150,751 150,662
23,625
18,825
Atl. K n o x .* No. February.
55,539
53,619
Atlanta & W. P. January...
6,415
5,072
Atlan. & Danv.. 4thwkFeb.
12,079
17,254
Austin & N’ west January...
Balt. & Ohio----- January... 2,017,851 1,950,844
Bal.& O . Sou’ w. IstwkMch. 138,876 131,018
Bath&Ham’nds January...
1,832
2,026
2,322
1,733
Bir. & Atlantic. .February
Brunsw’k&W est December.
51,370
48,008
Buff.Rooh.&Pitt IstwkMch.
57,104
61,981
40,466
37.063
Buffalo & Susa.. January...
83, '/ 34
74,922
Bur.O. Rap. & N. •ithwkFeb.
OanadianPaciiio IstwkMch. 454,00i
325,Out.
5,119
4,405
Oar. Midland... January...
Cent, of Georgia IthwkFeb. 127,856 115,684
Central of N. J. January... 1,055,700 855,216
Central Pacific. January... 1,051,818 858,913
Oharlest’n&Sav. December.
52,072
48,433
Char. & W. Car. December.
72,260
Ohes. & O h io.... IstwkMch. 206,750 230*623
Ohio. Bur.&Q.d January... 3,044,457 2,672.628
96,7 00
81,000
Ohio. & East. 111. IstwkMch.
Ohio. Gt. West’n IstwkMch. 111,029
95,588
Chic. Ind. & L .. 4thwkFeb.
53,890
50,123
Ohio.Mil.&St.P. IstwkMch. 638,851 524,472
Ohio. A N ’thw’n. January... 2,561,557 2,096,136
Ohio. Peo. & St. L. January...
76,000
63,861
Ohio.R'kI.&P.. February. 1,356,820 1,070,837
Ohio. St. P. M. &0. January... 567,479 537,923
Ohie.Ter.Tr.RR. 4th wk Feb.
22,461
19,366
Ohio. & W. Mich. IthwkFeb.
32,794
24,916
Choc. Ok.& Gulf February. * 117,000
83.000
Cin.G.&Ports’tb February.
3,903
3,709
Oin. N .O .* T .P . February. 319,229 261,514
Cin.Ports.& Vir. 4th wk Jan
6,277
5,038
Olev.Can.&So.. 4thwkFeb.
11,135
11,955
Ol.Cin.Ch.&St.L 4tkwkFeb. 258,271 246,365
Peo. & East’ n. February. 157,008 137,349
01.Lor. de Wheel. IstwkMch.
20,022
28,088
Ool. Midland___ February. 123,889 117,785
OoL H. V. & Tol. February. 163,939 157,744
Ool. Sand’y & H. 3dwk Feb.
9,598
10,600
Colusa & Lake.. February.
1,700
1,400
C ry sta l............. January...
1,147
463
GumbTd Valley January...
60,730
55,184
Deny. * Rio Gr. IstwkMch. 136,500 107,800
Das M. *K an .C 3d wk Feb.
3,835
2,876
Des.M. N. & W „ February
34.001
33,. 00
Det.G.Rap.&W. ithwkFeb.
24,468
19,114
Det. & Lima No. IstwkMch.
9,918
D St. & Mackinac January...
38,335
27,464
Duluth & Ir. R . December.
DuluthS.S.&Atl. ithwkFeb.
27,266
30,290
SlglnJol.&East. February. 128,758
95,297
Erie..................... January... 2,363,702 2,222,620
Eureka Springs. December.
3,90
5,591
Evans.*ihd’piie IstwkMch.
5,611
3,75a
Evansv. * T. H. IstwkMch.
21,574
16,034
Fitchburg.......... January... 553,502 518,396
Flint. & P. Marti. IthwkFeb.
55.699
50,899
Fla.Gent.<fe Pen. lstwk Dec.
46,009
39,923
Ft. W'th&Den. C. 4th wk Jan
30,862
19,101
Ft. W. & Rio Gr. IstwkMch.
7,444
4,095
Gads. & Att. U. February.
581
682
Georgia R R ....... IthwkFeb.
39,086
40,451
Georgia <sc A la .. IthwkFeb.
29,425
23,948
Ga. Oar’la & No. Deoember.
74,726
82,731
Geo. So, & F la.. January...
83,732
79,652
Gr. Rap. & Ind.. IthwkFeb.
42.699
35,372
Gin.R. <fcFt.W. ithwkFeb.
8,301
7,21a
Traverse City. IthwkFeb.
708
789
Mus. G. R .& I. IthwkFeb.
3,258
2,066
Tot. all lines ■ithwkFeb.
54,966
45,446
Gr.Trnk Syst’m ithwkFeb. 451,587 405,526
Ohio. & Gr. Tr. 3d wk Feb.
56,311
71,198
Det.Gr.H.&M. 3d wk Feb.
15.602
19,17fa
Cin.Sag.tfcMac ithwkDec.
4,384
3,632
Tol.S. *M usk. 4thwkDeo.
3,147
3,024
Great North’n—
St. P. M. & M. February. 1,023,877 796,459
East of Minn.. February .
90,218
77,178
MontanaCent. February . 160,210 148,090
Tot. system. February . 1,274,305 1,021,727
G*lfB’mnt&K. O. Februaty
7,911
11,181
Gulf * Chicago. February.
4,181
5,359
Hoos.Tun.tfe Wil. February.
3,926
3,114
Hous.tfe Tex.Cen January... 318,105 281,427
Illinois Central! February. 12177767 t 1764240
Ind Deo. & West Novemb’r.
38,110
36,591
Ind. IU. & Iowa. January...
70,532
76,375
I n .* G t . North’n IstwkMch.
66,055
67.603
Jan. 1 to Latest P ate.
1897-98.
513
CHRONICLE
1896-97.
$
21,482
305,220
694,722
14,967
262.589
640,356
218,200
133,588
128,793
2(2,760
292,946
122,836
2,860,448
1,666,319
48,641
55,539
83,965
12,079
2,017,851
1,167,067
1,832
4,302
580,606
597,222
40,466
611,690
3,614,372
4,405
1,015,829
1,055,700
1.051,818
600,249
223,729
103,761
101,409
177,398
2 0 7,479
96,476
2,463,930
1,598,047
37,835
53,619
75, ¿01
17,254
1,950,844
1,073 576
2,026
3 ,292
601,125
543,274
37,063
609,407
2,910,018
5,119
983,609
855,216
858,913
556.589
2,066,944
3,044,457
783,462
886,329
437,728
5,394,807
2,561,557
76,000
2,5*5,278
567,479
180,265
227,478
267,710
8,285
652,064
20,087
99,803
2,160,956
304,024
264,804
269,553
3 /5 ,5 4 5
100,115
3,400
1,147
60,730
1.330,826
23,699
80,492
184,378
84,354
38,33s
2 644,539
222,581
245.473
2,363,7i’2
62,788
49,815
202,983
553,502
445,605
2,212,381
112,692
81,977
1,241
297,598
210.473
889,963
83,732
291,940
62,442
5,999
20,603
380,985
3,590,785
1,924.58 »
2,672,628
742,215
806,154
395,213
4,654,660
2,096,136
63,861
2,091,642
537,923
181,46a
202,718
195,903
7,893
524,797
17,597
87,895
2,042,181
262,656
189,037
246,493
335,841
109,663
2,650
463
55,184
1,020,305
20,768
62,368
162,123
123,604
111,509
127,108
83,829
2,111,661
195,165
333,893
2,640,719
21,195
9,762
6,332
318,105
t4,454,487
431,958
76,375
676,659
1,584,882
172,050
296,211
2,053,143
16,054
7,652
6,802
281,427
13,662,502
¡g 419,096
70,532
620,753
27,46 i
1,973,846
192,728
171, h26
2,222,620
61,262
42,073
178.311
518,396
417,163
1,975,511
83,334
50,672
1,369
297,190
172,940
853,877
79,652
275.312
58,897
6,143
16,103
356,456
3,161,860
Latest Gross Earnings.
IWeek o r Mo 1897-98.
1896-97.
<£
$
tlnteroo. (Mex.i. Wk.Feb.19
51,500!
64,800
Iowa Central... 4thwkFeb.
41,939
30,287
3.312
4,150
Iron Rail w a y ... February .
Jack. T. & K. W.i January...
26,985
30,262
Kanawha&Mich IstwkMch.
3,243
9.600
87.493
K.C.F.Scott <feM.:4thwkFeb,
89,305
K.C.Mem. & Bir.MthwkFeb.
22,896
28,534
Kan. C. N. W -----February .
31,895
34,405
Kan.City & Om. ithwkFeb.
4,207
5.313
K.
C. Pitts. & G .. jIstwkMch.
62,155
30.471
Kan.C. Sub. Belt 11st wkMeh.
6,652
8,839
Keokuk <&West. >3d wk Feb.
7,830
7,488
L. Erie <fe West. |IstwkMch.
59,041
65.434
Lehigh <fc Hud.. » e bruary .
31,052
29,547
Lehigh Val. RR 1J anuary... 1,343,738 1,304,321
Leh. V. Coal Co.'January... 1,421,535 l,272,9-<7
Lex’gton&East.1j anuary...
15.605
13,538
Long Island RR. February . 194,624 179,041
Long Is. System February . 199,946 184,147
Los Ang. Term.!February.
6,127
.'',628
Louis.Ev.&St.L. Ut h wk Feb.
26,980
31,387
Lou. H. &St. L._ 4thwkFeb.
10,196
10,139
Louisv.&Nashv. IthwkFeb. 436.300 400,952
5,857
M acon *B irm .. February .
6,277
Manistique------ (February.
8,560
13,396
24,377
29,412
Memphis<feChas. ‘3d wk Feb.
tMexiean Cent,.) IstwkMch. 240,202 238,677
Mexican Inter’l. j anuai y ... 270,801 266,315
tMex. National. ¡4thwkFeb. 117,752 108,473
Mex. Northern. December.
42,248
52,204
tMexieanR’way Wk.Feb.19
89.000
75.000
Mexican So........3dwk Feb.
12,640
14,436
Minneap.*St.L. IstwkMch.
38,149
36,419
M.
St.P.*S.St.M. 4thwkFeb.
58,824
59,387
Mo. Kan. <fc Tex. IstwkMch. 211,564 180,4 5
Mo.Pao.«feIronM IstwkMch. 462.000 393,00U
Central Br’ch. iIstwkMch.
19.000
•23.000
Total.............IstwkMch.
412,000
485.00
M obile* Birm.. 3d wk Feb.
9,302
5,875
Mobile & Ohio.. February . 34 ,600 331,528
M ont.* Mex. Gli'J anuary...
127,865 101,414
Nash.Ch.* St. L. jj anuary...
462,072 413,051
Nei. & Ft. Sh’p’d;October...
13,114
7,718
Nevada Central. Novemb’r
4,447
3,004
N. Y.C. & H. R..¡February . 3,429,304 3,301,460
N Y . Ont. & W .. 1st wkMoh.
59,049
54,272
N. Y.Susq. & W .. J anuary...
196,551 180,475
N orfolk * West.¡4thwkFeb. 212,776 154,566
Northes’n(Ga.) .¡December.
7,711
6,352
North’n Central January... 506.538 525,8«6
North’n Pacific ¡IthwkFeb. 419,326 285,571
Ohio River......... j4thwkFeb.
14,122
14,143
OhioRiv.*Ohas!February.
18,666
16,953
Ohio Riv. & L.E.j February .
2,300
2,085
Ohio Southern.. !February .
55.923
56,130
Om.Kan. C. &E.I February .
62,695
45,790
Oreg.RR.*Nav. IthwkFeb. 104,477
43,966
Oreg. Sh. Line.. January... 447,370 397 909
Pac. Coast R y .. December. 349,857 2 0.946
Pacific Mail...... J anuary... 323,051 . 56.707
Pennsylvania, j . j anuary... 5,089,071 4.755,67
PeonaDeo.&Ev. IstwkMch.
17,924
16,398
Petersburg.........January...
42,80
39,778
Phila. & Erie.__IDecember.
346.200 351,334
Phila. & Read... J anuary... 1,724,472 1.509 871
Coal & Ir.C o.. January... 1,944.401 1,694,066
Tot. both Co’s.1J anuary... 3,668,873 3,203,937
Ph. Read. & N.E. Ij anuary...
47,289
42,429
Phil. Wilm. & B j January... 741,617 678,817
Pitts. C.C.*St.L. ¡January... 1,314,5 s 5 1,084,420
Pitts.Lisb.&W’n February.
3.564
3,781
Pitts.Bes.*L.E. February. » 44.855
35,830
Pittsb. & Wes’n. IstwkMch.
28,063
26,570
Pitts. CL&Tol. IstwkMch.
13,940
16,059
Pitts. Pa. & F . IstwkMch.
4,259
5,253
Total system.. IstwkMch.
49,375
44,769
Pitt.Young.* A. January...
55,959
84,444
Rich.Fr’ksb,*P. January...
57,222
48,564
Rich.&Petersb. January...'
23.472
26,677
Rio Grande Jet December.
23,003
33,708
Rio Gr. South’n. IstwkMch.
6,166
7,881
Rio Gr’de West. IthwkFeb.
68,200
52,600
St. Jos. * Gr. I ... IstwkMch.
25,624
32.435
St.L. Ch.&St.P. January...
24,113
27,500
St.L.Ken’et*8o. January...
6,747
5,905
St.L.*San Fran. 4thwkFeb. 166,170 137,882
St.L. Southwest. ithwkFeb. 133.300 102,800
St. Paul * Dul.. February . 101,410
87.278
San Ant. * A. P . 1January...
160,659 151,923
San Fran. & N .P.1February .
52,331
42.858
S.Fe Pres. & Ph. ithwkFeb.
15,823
11,814
Sav. Fla.*West. December. 323,892 298.988
Sher.Shrev.&So. 4thwkFeb.
6,877
8,070
15,762
Sil.8prs.O. & G. December.
14,172
Silverton...........December.
5.564
3,844
Sioux,C. & Nor. Deoember.
18,694
25,539
So.Haven&East February.
1,533
1,641
So. Pacific Co.—
Gal.Har.* S.A January...
426,678 377,531
Louis’a. West. January...
109,099
83,274
Morgan’sL&T. January...
564.569 436,563
N^Y.T. &Mex. January...
27 919
23.V97
Tex. &N. Orl.. January... 130,685 126,095
Atl. Prop’tes. o¡January... 1,287,943 1,069,759
Pacific system January... 2,761,659 2,314,425
Total of all./ January... 4.367.707 3,665.610
So. Pac. of Cal. January... 836,742 729.536
8o.Pae.ofAriz. January... 272,615 212,073
So.Pao.ofN.M. January...
121,270 103,298
Northern Ry.. January... 174,988 157,314
Southern R y .... IthwkFeb. 435.539 393.527
Spok.F’ls &Nor. December.
Stony Cl. & C.Mt. J anuary...
" 725
""7 7 6
Texas Central.. 3d wk Feb.
4,566
5,159
Texas*Pacific. IstwkMoh. 134,439 110,842
Tex. 8.V.& N.W. February .
2,961
4,009
31,894
Tol. & Ohio Cent. IstwkMch.
27,294
14,742
16,764
Tol. P. * W est.. IthwkFeb.
40,921
41,158
T ol.S t.L .*K .C . IstwkMch.
Union P acificUnion P. R R .. January... 1.192.707 1,001,743
Ach.Col.* P. ) Tnnnarv
83,051
45,173
Aoh.J.C.&W 5 January--23.000
19.000
Cent.Branch ■< IstwkMoh.
Cen.Br.&L’dL January... 106,691
78,555
1,454.242
1.194,371
Gr*dtotal... January...
Jan. 1 to L atest P a te .
1897-98
1896-97.
351,830
447,700
243,728
281.473
7,007
7,648
26,985
30,262
9 3 ,2 4 -i
79,148
689,869
761,1911
214.097
268.7231
61,501
68,9e0j
48,320
48,467
231,296
574,306
60,037
80,734
49,657
56,325
580,319
611,336
55,049
61,4591
1,343,738! 1,304,321
1.421.535 1,272,987
13,538
15,605
374,711
432,115
386,920
446,417
10,367
14,447
238,415
202,575
66,894
73,288
3,538,949 3,170,343
11,944
11,751
2 *,519
19,200
168,792
246,619
2,356,887 2,318,622
266,315
270,801
825,646
927,268
714,212
579,425
479,500
565,000
96,802
97,711
299,066
327,443
421,702
507,168
2.082.535 2,017,738
4,505,114 3,911,087
186,415
225,354
4,731,468 4,097,502
720,734
127,865
462,072
654,326
101,411
413,051
37.757
6,934,739
599,191
196,551
1,736.643
67,730
506,536
2,924,801
131,068
34,213
4,300
123,812
129,770
969,528
447,370
3,978,173
323,051
5,089,071
158,229
42,808
4,601,257
1,724,472
1,944,401
3,668,873
47,289
741,617
1,314.595
7,776
107,510
231,616
138,937
34.135
404,688
84J444
57,222
26,677
32,741
6,441,403
569*375
180,475
1,589,808
66,044
525,886
1,973,653
124,561
32,312
4,445
101,055
91.777
555,306
397,909
3,238,239
356,707
4.755,671
167,804
39.778
4,512,511
1,509,871
1,694,066
3,203,937
42,429
687,817
1,084,420
7,577
68.945
226,937
111,457
30.807
369,201
55,959
48,564
23,472
76,330
438,382
235,513
27,500
6,747
1,081,671
935,500
199,330
160,659
110,470
111,254
3,436,357
55,733
191,249
56,219
331,095
212,445
24.113
5,905
864,600
757.328
1 78,0(5
151,923
87,898
92,919
3,417,477
50.534
188,264
279*161
3,(3 9
224.256
2,97 5
426,678
109,099
564,569
27,919
130,685
1.287,943
2,761.659
4.367.707
836,742
272 615
121,270
174,988
3,379,041
596,910
725
49,231
1,457 088
7.549
286,344
152 645
343,591
377,531
83,274
436,563
23.797
126,095
1,069,759
2,314,425
3,665,610
729 536
212,073
103,298
157,314
3,136,885
439,759
776
32,321
1,259,148
5,856
287,001
146,244
371,541
1.192.707
45,173
225,354
106,691
1,4 54.242
1,001,743
33,051
186,415
78,655
1,194,371
514
THE CHRONICLE.
----L atest Gross E arn ings.
R oads .
TVeeJcorMo 1897-98.
1896-97.
Jan. 1 to L atest Date.
1897-98.
1896-97.
$
49,812
270,789
17,717
141,210
98,306
32,708
58,826
51,000
30,931
87,992
7,693
5,026
$
$
483.632
47,853
615,862
213,268 2,165,352 1,911,134
35,081
224,741
278,579
123,955
123,955
141.210
93,387 1,137,553 1,162,612
33,080
390,973
394.211
57,215
57,215
58,826
45,800
402,230
425,756
16,882
249,384
161,187
660,414
79,796
781,634
92,999
8,249
88,361
4,024
4,024
5,026
a These figures Include results on leased lines. 6 Includes earning
from ferries, etc., not given separately. J Mexican currency, d In
'Oludes operations of the Ohio. Burlington A Northern in hotn years
S Covers results of lines direotly operated east of Pittsburg.
t Includes Chesapeake & Ohio So’ western, Ohio Talley and Chicago
•and Texas for 1898 but not for 1897.
e Includes results on A . T. & 8. Fe, Gulf Ool. & 8. Fe, S. Fe Pacific
-<old£Atlantio A Pacific) and So. Cal. By.
CTn.P.Den.*G.. IthwkFeb.
Wabash.......... IstwkMoh.
Waoo&Northw. December.
W . Jersey&8ea’e January...
W.V.Cen &Pitts December.
W estVa.* Pitts. December.
Western of Ala. January...
W est.N.Y.& Pa. 4thwkFeb.
Wheel. & L . Erie IstwkMoh.
Wisconsin Cent. IstwkMoh.
Wrlghtsv.ATen. December.
YorkfSouthem. January...
rv o t. IX V I.
Net Earnings Monthly to Latest Dates.—The table follow
ing shows the gross and net earnings o f Steam railroads
reported this week. A full detailed statement, including all
roads from whioh monthly returns oan be obtained, is given
once a month in these oolumns, and the latest statement o f
this kind will be found in the Chronicle o f February 26,1898.
The next will appear in the issue o f March 19, 1898.
’
-Gross E arnm gs.1897-8.
1898-7.
Roads.
Annap. Wash. A Balt.—
Oct. I to Deo. 3 1 .....
Jan. 1 to Deo. 3 1 ___
14,220
53,698
Austin & Nortw’n....Jan,L.
12,079
Bellaire Zanesv.A d n .—
'
July 1 to Deo. 3 1 ....,
52,834
Jan. 1 to Deo. 3 1 ......
100,701
u 1,051,818
Nov. 1 to Jan. 3 1 .. ..
.
150,710
468,914
•Net E arnings,—
1897-8.
1896-7
11,772
57,530
3,311
13,155
17,254
87
6,048
50,383
99,624
858,913
466
1
353,661
3,501
1,348
274,427
112,903
375,124
61,900
199,908
35,626
128,099
174,193
1,710,667
644,626
485.105
239,262
Latest dross Earnings by Weeks.—rThe latest weekly earn Den. A R, Grande, b .. Jan,.. 5,120,095
4,254,364 2,025,907
ings in the foregoing are separately summed up as follow s:
& Maok’o.a.Jan .
38,335
27,464
16,495
IS.For the first week of March our preliminary statement Detroit
July 1 to Jan. 3 1 ,... .
238,273
169,874
62,901
novers 34 roads, and shows 18*25 per oent increase in the
EdisonEl.il.Co.Bkn Feb
75,601
69,817
36,625
aggregate over the same week last year.
Jan. 1 to Feb. 2 8 .. ..
386
13,271
7,653
33,149
32,003
.
164,982
153,566
80,623
74Ì400
, 2,276,720 1,898,262
763,516
722,652
16,384,021 13,307.505 5,333,306 4,142,299
$
#
$
æ
Jackson Gas Co.........Feb,
........
2,336
Ann Arbor............ .........
1,986
30,536
23,914
6,625
Jan. 1 to Feb. 2 8 .....■
........
........
4,623
Balt. A Ohio Southwest..
4.145
138,876
131,018
7,858
Mar.
1
to
Feb.
2
8
....,
23,804
Buff. Roeh. & Pitts..........
21,406
64,981
57,104
7,877
Canadian P acific...........
46,091
454,000
45,834
325,000
129,000
11,403
13,102
Chesapeake A Ohio.......
,
337,563
206,750
230.623
283,778
23,873
98,835
77,151
Chicago A East. Illinois
96,700
81,000
15,700
Kan. C. Ft. S. A M.a.. Jan.
401,699
357,961
107,636
101,397
Chlo. Great W estern ....!
111,029
95,588
15.441
. 3,047,624 2,703,117
941,968
869,447
Chicago Milw. & St. Paul
633,851
524,472
114,379
Kan. 0. Mem.A B .a .. Jan.
139,405
115,474
47,850
■Clev. Lorain A Wheel’g ..
36,363
28,088
20,022
8,066
July
1
to
Jan.
31.......
771,677
772,530
221,500
Denver & Rio Grande...
240,041
136,500
107,800
28,700
Laclede Gas-L. Co....Feb.
Evansv. A Indianapolis.
5,611
3,758
1,853
82,725
68,401
Evansv. A Terre Haute.
Jan. 1 to Feb. 2 8 ....
21,574
16,034
5,540
176,421
151,895
......... .
Ft. Worth & Rio Grande
7,444
4,095
3,349
Lehigh Valley in N. Y : International A Gt. No..
67,603
66,055
1,548
Oot. 1 to Dec. 3 1 .... 1,824,304 1,691,298
821,339
742,329
Kanawha & M ichigan....
9,600
3,243
6,357
5,678,107 5,643,270 2,053,924 1,962,975
Kan. City Pittsb. & Gulf
62,155
30,471
31,684
Madison Gas & Eleo.. Jan.
...... .
5,143
Kan.City S u b ,B e lt......
6,013
8,839
6,652
2.187
April l to Jan. 3 1 .. .....................
4 3 ,5 .9
Lake Erie & Western.......
36,445
65,434
59,041
6,393
Mexican Central..............
240.20V
1,087,022 1,073,903
238,677
1,525
279,288
377,511
Minneapolis A St. Louis.
38,149
33,419
1,730
Mex. International..Jan.
270,801
266,315
95,391
106,623
Mo. Kansas A Texas.......
211,564
180,475
31,039
Mexican
Northern...Deo.
42,248
52,204
20,641
32,941
Mo. Paolflo A Iron Mt___
462,001
393,000
69,000
579,425
714,212
Central Branch............
330,298
379,343
23,000
19,000
4,000
272,211
296,339
158,121
V . T . Ontario A Western
154,787
59,049
54,272
4,777
Peoria Dec. & E van sv...
17,924
16,398
10,992
1,526 Mexican Telephone. .Jan
10,647
3,402
3,117
Pittsburg A W estern.....
49,375
44,769
117,331
4,60*
112,372
43,041
33,938
Rio Grande Southern___
7,88i
6,166
1,715
Mobile * Ohio . . . . . . . Jan.
373,134
322,7S8
124,440
115,237
St. Joseph A Gd. Island.
32,435
25,624
6.8H
2,503,503 2,3 L3,325
942,214
879,347
Texas & P a c if ic ..........
134,439
110,842
23.597
Oregon Short Line.a. Jan.
447,370
397,909
1 '6 ,6 2 6
Toledo A Ohio Central...
31,894
154,251
4,600
27,294
July
1
to
Jan.
3
1
.....
3,710,974
3,418,151
1,483,029
Toledo St. L. A Kan.City.
1,178,313
41,158
40,921
237
Wabash..............................
270.789
Peoria Deo. & Ev___ Oct.
213,268
57,521
79,178
79,246
19,565
32,082
Wheeling & Lake E rie...
30,931
16,862
14,069
752,763
715,727
145,497
207,378
Wisconsin Central...........
87,992
79,796(
8,196
............. Rio Grande Junot.,..Deo,
33,708
23,003
*10,112
*6,901
West. b.. Jan.
231,582
175,795
Total (34 ~oads)_____
72,309
53,252
3,891,327 3,291,199!
626,027
25,399 Rio Grande
July
1
to
Jan.
3
1
.....
2,031,309
1,470,503
765,152
493,693
............ 1
Net increase (18*25 o.c.).
600,628
.............
Toledo&Ohio Cent. b. Jan.
147,712
145,045
43,201
46,104
1,054,141
1,069,934
322,329
207,483
For the fourth week of February our final statement covers
Union
P
acific77 roads, and shows 17*72 per oent increase in the aggregate
Union Pao. Ry.b...Jan. 1,192,707 1,001,743
447,325
317,129
over the same week last year.
•>ant. Branch.b....Jan.
61,518
4 >,504
30,373
19,940
Leased lines, b ___Jan.
4th week o f F ebru ary.
45,173
33,051
1898.
1897.
11,810
Increase. Decrease.
4,640
Total, b....................Jan. 1,454,242 1,194,371
554,709
378,847
•
$
$
$
W.Virginia* Pittsb..Deo.
$
32,708
33,080
18,054
14,847
Previously rep'd (32 r’ds 3,420,322 2,900,265
530,450
Jan. 1 to Dee. 3 1 . . . . .
10,393
394,211
390,973
184,931
202,024
Alabama Gt. Southern...
33,376
32,595
780
208,858
199,136
104,949
108,597
Burl. Ced. Kan. & North.
83,234
74.92V
8,312
Central of Geòrgia..........
127,85b
115,684
12,172
a Net earnings here given are after deducting taxes
Chlo. Indian ap.& Louisv.
53,890
50,123
3,767
b Net earnings here given are before deducting taxes.
Chic. Term. Transfer ..
22,461
19,366
3,095
* Thirty per cent of gross earnings.
Chicago & W. Michigan..
32,794
24,915
7,878
Cleve. Canton & South’n.
11,135
11,955
820
Clev. Cin. Chic. & St. L.
258.275
246,365
11,906
Interest Charges and Surplus.—The following Street
dev. Lorain & Wheel’g..
28,11C
19,502
8,608
Det. Gd. Rapids & West.
19,114
24,468
5,354
railways, in addition to their gross and net earnings given in
Dnluth So. Shore A A t!..
30.29C
27,266
3,024
the foregoing, also report charges for interest, &o., with the
Flint & Pere Marquette..
55,699
50,899
4,800
surplus or deficit above or below those charges.
Ft. Worth & Rio Gr....... .
11,164
5,400
5,764
Georgia........
39,086
40,451
1,365
Int., rentals, etc.-B at. o f Wet Eam 's.^s
Grand Rapids*Indiana.
42,699
35,372
7,327
1898.
1897.
1898.
1897.
Cincinnati R. & Ft. W ..
8,301
7,219
1,082
Roads.
Traverse City...............
708
789
81
Choc.
Okla.
&
Gulf...Jan'.
20,000
Musk. Gr. Rap. & Ind .
19,000
3,258
2,066
41,900
1,192
16,626
Nov. 1 to Jan. 31.......
58,000
Grand Trunk................. }
57,000
141,908
71,099
Chicago &Gr’d Trims
451,587
405,526
46,061
Denver & Rio Gr’de.. Jan.
183,448
182,350
55,814
def.8,152
Det. Gr.Hav. & Milw, )
July 1 to Jan. 31....... 1,383,233 1,353,387
642,669
352,230
Kanawha & Michigan__
9,841
3,059
6,782
Kanawha * Miob___Jan.
11,323
10,068
SO
3,034
Kan. City Ft. 8. & Mem.
87,493
89,305
1,812
July 1 to Jan. 31.......
80,341
71,800
18,494
5,351
Kan. C. Mem. & Birm___
28,534
22,896
5,638
116,913
4.207
Kansas City & Omaha. . .
112,013 def.9,22? def.10,616
5,313
1,106 Kan. C. Ft. 8. & M ..., Jan.
July 1 to Jan. 3 1 .,...
818,779
Louisv. Evansv. & st. L.
26,980
31,387
813,658
4,407
123,189
55,789
Louisville Hend.& St. L ..
10,196
10,139
57
Kan. O. Mem. & Bir...Jan.
16,221
16,507
31,629
19,856
436,300
Louisville & Nashville...
400,952
July 1 to Jan. 31.......
35,348
111,103
109,051
110,397
130,990
Mexican National...........
117,752
108,473
9,279
Rio Grande Janet-...Deo.
7,708
7,708
2,404
def.807
58,824
59,387
Minn. St. P. &Ste. S. M..
563
Toledo & O. Cent.....Jan.
39,077
221,882
41,761
204.860
M o.K an sa s* T e x a s.....
17,022
*4,885
*5,179
275,084
269,024
665,000
537,000
Mo. Pacific & Iro iM t......
128,000
*52,929
*11,177
35,000
26.000
Central Branch.............
9,000
449,326
285,571
Northern Pacific___ . . . . .
163,755
Si* After allowing for other income received
104,477
Oregon RR. & Nav......... .
60,511
8,070
5,417
RiOÌJrande Southern___
2,653
52.600
68,200
15,600
Rio Grande Western___
137,882
166,17(
STREET RAILWAYS AND TRACTION COMPANIES.
St. Louis & San Fran ..
28,288
15,823
11,814
San. Fe Prescott & P h x..
4,009
The following table shows the gross earnings for the latest
6,877
8,070
ShermanShreve. & S o ...
1,193
393,527
435,539
42,012
Southern R a ilw a y .......
period of all s t r e e t railways from whioh we are able to ob
163,942
182,396
18,454
Texas & P aciflo.............
tain weekly or monthly returns. The arrangementfof the
16,764
14,742
2,022
Toledo Peoria & West’n ..
table is the same as that for the steam roads—that is the
49,812
47.853
1,959
Un. Pao. Den. & G u lf....
51,000
45,800
5,200
first two columns o f figures give the gross earnings for the
Western N. Y . & Penn...
18t week o f March.
1898
Total (77 roads).......... 7,999,578
Net increase (17*72 p. o. i
............
1897.
6,795,343
—
Increase.
Decrease.
1,221,568 1 117,333
1.204,235
............
latest week or month, and the last two oolumns the earnings
for the calendar year from January 1 to and including such
latest week or month.
THE
M abch 12, 1888. J
CHRONICLE,
STREET RAILW AYS AND TRACTION COMPANIES.
Latest Gross E arnings.
G ross
E arnings .
Week o r Ilo 1897-8. 1896-7.
$
R a il r o a d and M is c sl . C o’s
Volume 66—
Page.
Jan. 1 to Latest Date.
1897-8.
1896-7.
$
*
$
61ô
5,655
5,550
5,655
5,550
Akron Bedf’d & Clev. January...
3.697
4,279
4,279
3,697
Amsterdam St. R y... January...
6,221
5,155
6,221
5,155
Atlanta Railway___ January...
6,282
Atlantic Coast Elec.. October. . . I 7,721
AtL Highl’ds Red B’b
38,582
2,103
2,863
& lioagBr. Eleo.Ry. Novemb’r.
307,867
Baltimore Con. Ry.*... February. 152,424 148,576 319,95
1,306
1,311
1,311
1,306
Bath St. Ry. (Maine). January...
6,253
6,336
6,336
Bay Cities Consol.... January...
6.2*3
11,102
10,029
Binghamton St. R y... January... 11,102 10,029
44,089
48,569
Bridgeport Traction. February. 21,671 21,483
25,111
Brockton Con. St. Ry. January... 25,111 22.918
22,918
98,000
Brooklyn Elevated.. January... 98,000 89,000
89,000
Br’klyn Rap. Tr. Go.—
Brooklyn Heights ) February. 385.967 360,128 800,777 752,414
B’klyn Q’ns & Sub. J
11,773
Charleston City R y.. January... 11,773
Citizens’ 8t.Ry.,Tndp. February. 73,024 67,918 153,745 141,369
4,390
5,418
d tiz ’ns’ (Muncie Ind.) January...
4,390
5,418
1,572
1,43*
City Elec. (Rome.Ga.) January...
1,438
1.572
Cleveland Eleotrio... January... 135,753 124,178 135,753 124,178
5,437
4,500
4,500
Cleve. Painsv. & E. January...
5,437
89,663
Columbus St. Ry. (O.) February. 47,601 42,794 101,389
Consoli’d Trao. (N. J.) January... 242,590 217,316 242,590 217,316
Danv. Gas El. Light &
P.597
9,939,
9,597
Street Ry................. January...
9,939
56,473,
53,998
Denver Con. Tramw.. January... 56,473 53,993
Detroit Citi’ns’ St.Ry. IstwkMch. 20,972 19,036 196,669 177,497
64,932
64,776
Detroit Eleo. Ry........ February. 31,365 31,319
13,024
14,359
Duluth St. Ry............ January... 14,359 13,024
10,986
10,258
Erie Eleo. Motor Co.. January... 10,986 10,258
161,692
163,399
1>1,542
19,148
Galveston C ity R y ... Septemb’r.
16,376
18,497
Harrisburg Traction. January... 18,497 16,376
Herkimer Mohawk II42,604
39,571
3,765
ion <fcF’kfort El. Ry. December. 1 3,492
16,623
14,072
Houston Elec. St. Ry. January... 16,623 14,072
Interstate Consol, ol
8,943
9,934
8,943
9,934
North A ttleboro.... January...
3,679
4,000
3,679
4,000
Kingston City R y ..... January...
8,702
8,170
8,702
8,170
Lehigh Traction....... January...
14,364
12,760
6,159
6,658
London St. Ry. (Can.). February.
27,541
30,705
Lowell Law. & H av.. January... 30,705 27,541
Metrop. (Kansas City) January... 147,659 128,793 147,659 128,793
99,632
Metro. W. Side (Chic.) January... 99,632
4,261
*’ 3,650
4,261 *"3,650
Montgomery St. Ry.. January...
Montreal Street Ry... February. 102,626 89,952 212.782 189.588
Nassau Eleo. (B’klyn) February. 12C.809 102,409 262,247' 212,032
4,921
4,520
4,921[ 4,520
Newburgh Electric... January...
53,428
53,587
3 ,3 1 1 3,082
New London St. R y.. December.
New Orleans Traction February. 110,971 89,995 212.782 189.588
North Shore Traction February. 82,471 86,443 181,33 d 179,148
1,044
1,031
1,031
1,044
Ogdensburg St. R y... January...
23,769
27,462
Paterson Ry.............. . fanuary... 27,462 23,769
6,065
86,134
86,406
6,179
Po’keepsie & Wapp.P. December.
14,381
16,913
6,347
8,280
Richmond Traction.. February.
Rochester R y ........... December.
791,181 847.440
4,029
4,029
4,373
Roxb’h Ch.H.& Nor’n January... *‘ 4.373
72,816
8,480
67,086
Schuylkill Traction.. Septemb’r.
8,523
4,066
3,509
Schuylkill Val. Trao. January...
3,509
4,066
2,891
Scranton & Carbond’e January...
2,891
’ *4,7*30
4,730
4,788
4,788
Scranton & Pittston. Ianuary...
27,572
30,166
Scranton Railway.... January... 30,166 27,572
37,487
32,190
Syracuse Rap. Tr. Ry. January... 37,487 32,190
2,,597,632 2,,626,895
Third Avenue (N.Y.). December.
Toronto R y . . . . . . . . . . . February. 82,402 69,745 168,965 144,291
Twin City Rap. Tran. January... 163,723 151,968 163,723 151,968
16,851
15,802
Union (N. Bedford).. January... 15,802 16,851
United Tract. (Pitts.) January... 117 960 104,967 117,960 104,967
United Traet. (Prov.) January... 138,578 129,183 138,578 129,183
12,824
11,677
Unit. Trac. (Reading) January... 12,824 11,677
3,288
3,614
Wakefield & Stone.... Jauuary...
3,288
3,614
19,071
22,235
W aterbury Traction.. January... 22,235 19,071
West Chicago St. Ry. IstwkMoh. 70,578 66,773 625,206 595,659
12,925
14,276
Wheeling Railway... January... 14,276 12,925
39,419
Wilkesb. & Wy. Valley January... 40.356 39,419
40,356
* Includes Baltimore Traction and City & Suburban for both years.
Alabama N. O. & Tex. Pac. June... 281
Am erican Screw Com ca n y............. 382
American District Telegraph........ 234
American Soda F ountain............... 333
Am erican Straw Board .................. 333
Baltimore Chesapeake & Atlantic. 284
Brooklyn W harf & W areh. C o ..... 425
Canadian Pacific R ailw ay............... 879
Central RR. o f New J e r s e y .......... 423
Central Union T elephone............... 286
Cheraw & Darlington.........................233
Chicago & A lton................................ 423
Chicago Junction Rys. & Union
Stock Yards Co ........................... 380
Chic. St. Paul Minn. & Omaha...... 424
Chicago Telephone........................... 234
Chicago & U-’t West..ftalf-yea«*..235 283
Consolidated K. C. Sm. & R e f........ 471
Consolidation Coal............................. 330
Delaware & Hudson Canal............. 232
Delaware Lackawanna & Western. 232
Detroit Grand Rapids & W estern. 424
Diamond M atch................................ 286
Edison Elect. 111. o f B rooklyn.285, 333
Edison Electric III. o f Boston........ 333
Edison Electric 111. o f New Y ork.. 332
Grand Rapids & Indiana.......... .-... 468
Huntingdon & Broad Top Moun
tain RR. & Coal C o........................ 331
Illinois Steel....................................... 332
Indiana & Lake Michigan............... 331
Lake Erie & W estern....................... 424
Lake Shore & Michigan Southern. 471
Lehigh Coal & Navigation Co .. .. 380
Lehigh Valley................... 158,181, 186
Manchester & Augusta.................... 233
R ailroao and Miscbl. Go’ s (O o n .y
Volume 66 —
Page.
Maryland Coal C o............................. 388
Mobile A Birmingham .......................424
M exican Central............................... 434
National Starch Mfg. C o.................. 334
National Lead C o............................. 381
N. Y. Chicago A St. Louis................ 283
New York & New Jersey Telephone 469233
Norfolk & Carolina.................
Northeastern R R . (o f So. C ar.)... . 233
Northern Central R R ....................... 380
Pennsylvania R R ...................... 467, 473
People’s Gas Light & Coke.......332, 383
Peoria Decatur & Evansville R y ... 469
Philadelphia & E rie ......................... 468
Phil. W ilm ington & B a ltim ore.... 233
Quincy Mining Co............................. 883
St. Louis Vanaalia A Terre Haute. 331
South’n New England Telephone. 334
Street’s W estern Stable Car Line.. 285
Summit Branch RR.......................... 332
Sunday Creek Coal Co.................... 334
Terre Haute & Indianapolis.......... 331
Terre Haute & Logansport............ 331
Terre H aute & P eoria.................... 331
Trenton Potteries............................. 286
United States L eather..................... 425
W est Jersey & S eashore................. 475
W estern M a rylan d .......................... 232
Western Stone Co......................
234
Wilmington Columbia & A ugusta. 181
St r e b t R a il w a y s
Volume 66—
Page.
Twin Citv Rapid Transit C o ...424, 469
United Traction Co. o f P ittsburg.. 469
Canadian Pacific Railway.
(R ep ort f o r y ea r ending Dec. 31,1897. J
The report of President Van Horne of this company will befound at length on another page, with the income account*
detailed statement of charges, balance sheet, etc.
OPERATIONS AND FISCAL RESULTS.
1897.
1896.
1895.
1894.
Miles Dee. 311T.
6,444
6,568
6,476
6,344
(p era tion s—
Pass, car’d No.
3,179,589
3,029,887
2,983,793
3,009,01$
Pass, mileage.. 317,997,591 263,607,453 260,317,256 260,804,129*
Ratep.pas.p.m.
1*82 cts.
1*83 ots.
1*80 ets.
1*85 ots.
Freight (tons)
carried...........
5,174,484
4,442,055
4,274,667
3,891,804
Freight (tons)
car’d one mile.1955.911,006 1769,958,865 1490,639,847 1313,948,410
R’te p. ton p. m.
0*78 ets.
0*75 cts.
0*80 cts.
0*87 ots.
E arn ings—
$
$
$
$
Passenger....... .
4,820,143
5,796,115
4,683,138
4,840,412
Freight.............. 15,257,897
13,187,560
11,877,852
11,4 4 5,3 7 »
Mail, exp.,'etc.
2,995,522
2,673,893
2,380,047
2,466,377
Tot. earnings
E xpenses —
M’t.of way, &o.
Motive power..
Maint. of oars..
Transportation
Miscellaneous .
24,049,535
20,681,597
18,941,037
18,752,16T
3,018,749
4,211,587
955,013
3,434,755
2,125,654
2,807,152
3,914,148
881,402
3,200,516
1,770,796
2,659,734
3,614,109
710,997
2,884,191
1,591,054
2,972,024
3,682,487
868,403
3,016,50$
1,789,438
Tot. expenses
Net earnings...
Perc’t of oper.
exp. to earns.
13,745,759
10,303,776
12,574,015
8,107,582
11,460,085
7,480,952
12,328,859
6,423,30»
57*16
60*80
60*50
65*75
INCOME ACCOUNT.
Net earnings...
Int. on deposits,
bonds, e t c ....
Total..............
Int. on mortg’s,
and sink. f’ds.
Int. on deb. st’k
Int. onl. gr.b’ds
Rentals..............
Contingent int.
Dividends......
1897.
$
10,303,776
1896.
9
8,107,582
1895.
9
7,430,952
1894.
9
6,423,30»
340,706
511,165
552,912
333,826
10,644,482
8,618,747
8,033,864
6,757,134
3,740,392
1,837,412
591,567
613,995
3,723,630
1,762,239
666,024
556,190
203,890
t l ,612,946
3,784,766
1,682,387
662,165
530,160
3,813,763
1,592,787
656,618
526,210
694,487
1,881,960
12,964,026
*1,231,960
Street Railway Net Earniags.—In the following we show
Total..............
9,747,393
8,524,920
7,891,438
9,165,826
both the gross and the net earnings to latest dates of all Street
sur.93,827 sur.142,426 df.2,408,692
railways from which we have been able to procure monthly Balance............. sur.897,089
* 4 p. o. on pref. stock and 1*2 p. o. on common, t 4 p. c. on pref. and
returns. As in the case o f the steam roads, the returns of the
o. on common. J 4 p. c. on common and 4 p. o. on pref.
different roads are published by us each week as soon as re 2 p. On
which earnings and operations here given are based.
ceived, and once a month (on the third or the fourth Satur
BALANCE SHEET DECEMBER 31.
day of the month) we bring all the roads reporting together,
1897.
1896.
1895.
A
oo/>
/ii
3?
as is done to-day. Besides the roads making monthly returns
9
$
..................
179,671,271
Cost
of
road...........:
175,881,782
174,281,173
we publish this week those making quarterly returns.
,-----Gross E arnings.----- ,,-----Net E a rn ings.— .
1896 7.
1897-8.
1897-8.
1896-7.
Hoads.
9
9
9
$
6,114
21,671
7,117
21,483
Bridgeport Tract’n..Feb,
13,565
44,089
18,363
48,569
Jan. 1 to Feb. 28.......
86,995
222,073
103,835
215,123
July 1 to Feb. 28.......
22,736
24,262
47,601
42,794
Columbus (O.)St. Ry..Feb.
45,873
52,860
89,663
101,339
. Jan. 1 to Feb. 28.......
4,570
4,913
Danv.Gas El.-L.&St.Ry. Jan.
9,939
9,597
35,484
76,172
38.569
Detroit Citizens’St. Ry.Feb. 84.112
72,446
80,822
153,411
175,697
Jan. 1 to Feb. 28 . . . .
9,065
11,222
Detroit Eleotrio Ry..Feb.
31,365
31,319
19,497
23,003
Jan. 1 to Feb 28.......
64,932
64,776
Second Avenue, N. Y .—
25,496
Oct. 1 to Deo. 3 1 .....
def. 49
81,069
167,390
176,052
79,240
Jan. 1 to Deo. 3 1 .....
784,912
597,437
ANNUAL REPORTS.
Annual Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the I n v e s t o r s ’ a n d S t r e e t R a i l w a y S u p p l e m e n t s .
This index does not include reports in to-day’s C hron
icle .
Equipment.........................
Steamship & appurtenances..
Securities held agst. stk. iss’d.
Other acquired securities.......
Real estate and hotels.............
Due on lands sold.....................
Due on town sites.....................
Advances to railroads............
Ma’ erials and supplies...........
Pref. stock re-assumed...........
Station & tratlicbalances, &c.
Miso. securities and advances.
Due for mailtransp’rtat’n,&c.
Dom. Gov’t., account Crow’s
Nest E x t.................................
Cash.............................................
19,647,626
4,149,671
23,689,273
2,192,162
1,237,576
1,467,256
218,264
1,972,652
1,924,690
.............
2,281,799
1,981,825
t229,351
t453,750
4,669,162
18,791,150
3,538,096
22,981,261
2,192,162
1,175,590
1,398,393
225,221
3,194,718
1,763,494
2,273,569
1,841,670
111,635
18,386,933
3,657,771
20,098,210
2,192,162
1,176,306
2,244,379
240,892
2,520,737
1,532,202
1,270,000
2,306,935
1,807,789
140,263
4,366,921
3,956,513
Total assets..........................*245,786,330 239,735,665 235,812,286
jLiabilities—
65,000,000
65,000,000
Capital stock.............................. 65,000,000
6,424,000
8,003,667
Preferred stock......................
9,830,667
45,347,843
42,353,018
Consol debenture stock......... 46,055,870
66,511,086
66,512,086
B onds (see I n vest .S u p p . ) . . . .
66,509,583
2,488,031
2,375,302
Current,liabilities......... ...........
3,155,834
1,741,780
1,750,126
Interest and rentals...............
1,851,018
26,250,918
26,171,989
Subsidy and bonuses..............
26,803,938
20,528,525
21,164,429For land grants and town sites 20,809,012
75,637
75,637
Miscellaneous ........
75,637
3,786,177
3,985,698
Surplus earnings account___
5,694,766
__ Total liabilities................. 245,786,330 239,735,665 235,812,286
* In addition to above assets the company owns 17,468,339 acresof land, t Since paid.—Y . 66, p. 383.
THE CHRONICLE.
516
Delaware & Hudson Canal Company.
("Report f o r the y ea r ending De\ 3 1 ,1 8 9 7 .)
President R. M. Olyphant says:
In the last report reference was made to the operations or
the Rutland R R ., in which your company is largely inter
ested. It is gratifying to report that the hope expressed as
to an improvement in the earnings has been fully realized,
and after paying 2 per cent on its preferred stock it carried
forward a surplus to new account. Your leased roads show
a profit of $109,507, as compared with a loss in 1896 of
$18,243.
9 There were no additions to equipment during the year;
6,374 tons of steel rails were purchased and charged to oper
ating expenses.
„ ,/
, „
The contract under which a large portion of the coal ot
your company was transported by the Erie Railroad expired
at a recent date and has been renewed on terms advan
tageous and satisfactory to each of the contracting parties.
The total output of coal, the amount produced by your
company and the amount transported for others were as fol
lows. [For comparison we add the years given prior to 1897.
t^T)
1
1893. 1890 .
1894. 1893.
1897. 1896.
1895. 1894.
1896. 1895.
1897.
.................41.038
43,089 35,85 5
41,391 43,089
46,611 41,391
.41,638 43.1.77
43,177 46.611
. 3,966 4.22S 4,348 3,997 4,467 3,704
. 1,681 1,613 1,803 1,754 1,710 1,209
'T.msfOOOs omitted)
-m (uuuspmnxecp.
. 5,647
6,836
6,151
5,751
4,915
6,177
Your managers have decided to charge off to your “ Gen
eral Profit and Loss” account a portion of the cost of the fo l
lowing accounts, say: Canal, $539,210; boats, $213,664; equip
ment, $200,000, and a number of smaller items, aggregating
$211,814; in all $1,264,689. Y our surplus, after placing to its
credit the amount of earnings over dividend, will therefore
stand at $5,128,344. It is scarcely necessary to add that such
changes do not in any way affect the earning capacity of
your property.
,
,
S tatistics.—The statistics for four years have been compiled
for the C h r o n ic l e as follows :
EARNINGS, EXPENSES AND CHARGES,
1894.
1895.
Receipts from coal... 7,709,441
Receipts f’mrailr’d s.10,061,167
Miscellaneous............
589,442
1896.
$
7,778,225
10,201,633
566,584
7,369,379
10,129,082
1fl,321,157
7,864.152
5.18,360 051
.13,085,661
18,546,443
13,693,799
18,819,618
13,376,733
18,068,219
12,529,547
. 5,274,389
1. 3,132,968
4,852.643
3,087,631
5,412,886
3,078,492
5,538,672
3,319,959
2,141,421
...1,750,000
1,765,012
2,450,000
2,364,394
2,450,000
2,218,713
2,187,500
1897.
$
$
$
9 ,4 4 8 ,9 9 3
755,074
sur.391,421 def.684,988 def.85,606 sur.31,213
UIncludes the premium obtained on sale of 8,000 shares of Rensse
laer & Saratoga stock.
The railroad earnings mentioned above embrace:
1894.
3,756,137
2,313,431
920,941
3,211,125
1895.
$
3,672,681
2,336,388
911,925
3,208,088
3,461,071
2,232,275
810,159
3,127,353
Total gross earns.l 0,0 61,168
Operating expenses. 6,152,152
10,201,634
6,407,442
10,129,082
6,333,119
9,630,858
6,079,565
Net earnings....... 3,909,016
Int., rentals & div ___ 2,575,341
3,794,192
2,525,106
3,795,963
2,487,770
3,551,293
2,473,971
Balanoe, surplus. 1,333,675
1,269,086
1,308,193
E a rn in gs
Alb. & Susquehanna.
Renss. & Saratoga...
N. Y . & Canada.........
Lines in Pennsylvania
1897.
$
3,667,145
2,446,367
954,068
2,983,588
1896.
$
$
1.077.322
PROFIT AND LOSS ACCOUNT.
[V ol. LX VI
1897.
1896.
L iabilitiis—
$
$
Stock.................. . ...3 5 ,00 0 ,00 0 35,000,000
Bonds............................. 5,000.000 5,000,000
Other accounts........... 1,688,430 t l ,909,059
Surplus fund................ 5,128,344 6,000,870
T otal lia b ilitie s...46,816,774
47,909,929
1895.
$
35,000,000
5,000,000
613,711
7,094,893
1894.
$
35,000,000
5,000,000
715,155
7,223,789
47,708,604 47,938,944
* These miscellaneous assets consist of the following: Sundry bonds,
$143,785; 4,500 shares Albany <fe Susquehanna RR., $450,000; 8,000
shares Rensselaer & Saratoga RR., $800,000; 40,000 shares Rutian'd
RR , $1,500,000; sundry stocks, $267.767.
t interest and dividends payable January, $476,550; dividends, in
terest and bonds unpaid, 111,880; loans payable, $1,100,000.
I Of this $6,053,565 is No. Coal & Iron Co.
—Y. 66, p. 232.
Chicago St. Paul M inneapolis & Omaha Ry.
( R ep o rt f o r the y ea r en din g Dec. 31, 1897.)
President Marvin Hughitt says in substance :
G en eral R esu lts.—“ The gross earnings during the first nine
months of the fiscal year showed but a moderate increase
over those of the corresponding month in 1896, and the large
expenditures proposed for the improvement of equipment, as
well as some of the heavier work upon bridges, were delayed
or slowly progressed for the time being, but upon the recur
rence of an encouraging traffic during the last quarter of the
year the amounts needed for these important improvements
were provided out of the net earnings and charged to oper
ating expenses.
| A comparison with the operations of the preceding
year shows changes as follows : An increase of $496,600 in gross earnings ; an increase of $146,569 in operat
ing expenses ; an increase amounting to $242.6^6 for replace
ments of cars, and an appropriation of $200,000 made to
equipment fund for the completion of freight cars building in
the company’s shops. The dividends of 7 percent on the
preferred stock and 2 per cent on the c mmon stock, when
deducted, leave a net surplu s of $230,281 for the year, a de
crease of $110,620.”
C onstruction a n d R enew als.—The report enumerates at
length the various improvements which have been made. In
brief they include the change of line at three different points
for an aggregate distance of about 10 miles, the length of
line having been reduced 4-5ths of a mile and the grades and
curves greatly lessened. The length of wooden bridging was
decreased 1,537 feet, by Construction of iron bridges and ma
sonry (968 feet) and of iron pipe culverts and filling (569 feet).
New steel rail, 80 pounds to the yard, was laid to a total of
42-85 track miles. The length of side tracks was increased
9-67 track miles. New ties were laid in renewal to a total of
472,564 ties. Ballasting was done on 68>| miles, of which
57)^ miles gravel, remainder cinder.
S t d u tie s .—The following statistics for four years have
been compiled in the usual form for the Chronicle :
OPERATIONS AND FISCAL RESULTS.
1894.
1895.
1836.
1897.
1,492
1,492
1,492
1,492
Aver, miles oper...
Operations—
1,505,540
1,544,387
1,522,529
Passengers carried. 1,478,094
Passenger mileage. 66,776,371 71,277,738 69,425,274 67,219,226
2-51 cts.
2-48 cts.
2-37 cts.
Rate per pass. p. m .
2-45 ots.
2,903,240
3,141,062
3,540,793
Freight (tons) carr’d 3,772,433
Freight (tons) mil’ge. 647,845,80 4 574,115,415 465,645,802 458,563,082
_ ~~ cts.
. .,
—
i-14 cts.
1-15 ots.
1-04 ots.
Av.rate per ton p.m.
1-00
$
$
E arn ings—
$
$
1,684,409
1,721,130
1,695,339
Passenger.................
1,639,359
5,215,609
5,354,205
5,983,440
Freight..................... 6,522,428
397,601
433,429
477,413
Mail, express, &o. . .
491,006
Total gross earn. 8,652,793
E xpenses—
Way and structures. 1,333,933
Equipment................ *1,-¿14,550
Transportation. . . .
2,655,405
201,152
General.....................
T ax es.........................
332,405
8,156,192
7,508,764
7,297,619
1,207,067
670,984
2,739.170
198,565
321,248
934,132
860,183
2,299,204
436,364
306,768
1,248,340
536,832
2,457,458
421,392
282,162
5,737,445
2,915,347
66-31
5,137,034
3,019,158
62-98
4,836,652
2,672,112
64-41
4,946,184
2,351,435
67-78
1896.
$
7,216.363
44,515
522,069
1,539,366
1,269,085
1895.
$
7,187,858
42,336
1,260,279
954,6i8
1,308,193
1894.
$
7,480,509
40,373
697,380
773,138
1.077.322
Total....................... 11,171,923 10,591,398
Disbursem ents—
977,503
-Coal on hand Jan. 1 .. 1,539,366
5,454,062
Mining coal............... 5,199,641
Tran sport at’n to tide
805,602
772,195
water, via Erie.......
Transportation exp.,
615,822
524,775
canal, river, etc—
350,000
350,000
Interest........................
Terminal expenses &
410,870
436,898
miscellaneous.........
212,526
207,627
1,765,013
Balance............ |......... 2,141,421
10,753,324
10.068.722
773,138
5,295,312
390,956
4,940,66 j
828,572
629,331
INCOME ACCOUNT.
523,207
350,000
647,874
603,523
377,979
240,721
2,364,394
395,192
242,466
2,218,713
1894.
1895.
1896.
1897.
$
$
$
Receipts—
$
3,019,158
2,672,112
2,351,435
Net earnings......................2,915,347
Disbursem ents—
113,946
113,048
109,137
Rentals paid....... .
114,625
Net int. on debt................... 1,411,470 1,105,353 1,422,830 1,412,300
787,976
787,976
Dividends on stock*... ....1 ,1 5 8 ,9 7 0 1,158,958
10,591,398
10,753,324
10.068.722
Receipts—
Sales of coal................
Canal tolls...................
Int. on invest. &miso.
Coal on hand Dec. 31.
Net earns, from RRs.
1897.
ÇB
8,016,905
51,471
537,971
1,229,902
1,333,674
Total....................... 11,171,923
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1896.
1897.
$
Assets—
$ ___
6,139,210
Danal............................ 5,500,000
RR. and equipment.. 10,302,456 10,433,065
11,539,987
Real estate................
3,431,369
Mine imp’ts,iixt’s,&c_ 3,684,278
970,603
Coal yard, barges,&c.
755,852
1,108,188
Laoka. & Susq. R R ... 1,108,188
3,760,741
tf. Y . & Canada R R .. 3,762,259
210,000
Cherry V.8h.& Al.RR. 210,000
215,968
3clien.&Meehan. RR.
215,968
1,379,792
Construct.leas’d lines 1,441,144
1,539,366
Coal on hand Dec. 31. 1,229,902
879,302
4dv.on coal royalties.
755,171
3,132,205
Miscellaneous assets. *3,161,552
18,708
relegraph................... .
1,835,115
3upplies, tools, <&c.— 1,829,335
Cash, and bills and ac
1,316,309
counts receiv., net.. 1,335,676
Total assets.
.46,816,774
47,909,929
1894.
1895.
$
$
6,139,210
6 ,139,210
10,384,840 10 ,001,235
11,580,777 11 ,607,458
3,314,098
3 ,228,531
955,589
965,857
1,105,627
1 ,104,498
4,752,329
4 ,697,961
210,000
210,000
215,761
215,968
730,630
804,582
773,138
954,658
980,811
927,483
3,088,278
3 ,897,021
18,708
18,707
1,734,626
1 ,798,756
1,511,558
1,579,637
47,708,604
47,938,944
Total...................
Net earnings..
P.o.of op.ex.to earn.
»Includes $442,685 “ equipment fund.”
Total disburses.............. 2,695.065
Surplus of RR. Co................ 230,282
Net from land sales............
55,191
Total surplus...............
285,473
2,678,257 2,323,854 2,309,413
340,901
348,258
±2,022
1,662
36,389
230,076
342,563
384,647
272,098
*On preferred 7 per cent in all the years, and on comnon 2 per cent
in 1896 and in 1897.
GENERAL BALANCE SHEET DECEMBER 31.
1895.
1897.
1896.
$
$
A ssets“
$
56,163,008 55,722,391
Road and equipment..............56,403,569
6,590,989
6,584,805
Bonds and stocks owned...... 6,688,556
149,500
143,f 00
A d v a n c e s t o p r o p r ie t a r y r o a d s . . .
........
1,248,466
1,444,031
Cash on hand........ ............................ 2,132,475
539,334
640,441
Materials and fuel..................
445,103
Station agents, conductors, land
667,148
699,993
grants, etc., etc....................
775,202
Total assets
.66,444,905
65,643,334
64,950,674
1895.
1896.
1897.
$
$
L iabilities—
$
Common stock and scrip................ 21,403,293 21,403,293 21,403,293
Preferred stock and scrip............... 12,646,833 12,646,833 12,646,833
Funded debt........................................ 24,811,127 24,841,127 24,841,127
232,166
267,553
Int. on bonds, incl. back coups—
232,16o
517,480
584,836
Vouchers and pay-rolls...................
574,834
84,574
Due to other companies.............
104,810
1,500,000
1,500,000
Superior Short Line bonds............. 1*500,000
801,489
394,493
Dividends, including back div. . . .
799,570
190,863
229,592
Taxes....................................................
239,836
Equipment funds...............................
44=2,686
2,456,265
2,115,364
Income account, ER. Co
............ 2,686,546
969,243
987,581
Income account, land departm’t .. 1,003,153
Total liabilities............................66,444,905
—V. 66, p. 424.
65,613,334
64,950,674
Missouri Pacific R ailw ay Company.
(R e p o r t f o r the y e a r en din g Dec. 31,1897. J
President George J. Gould says:
R efu n d in g .—During the past year the first and second
mortgage bonds of the St. Louis & Iron Mountain R R. Co.
[aggregating
$10,000,000] became due and were ext ended. The Cairo Arkansas & Texas- RR. first mortgage
bonds [$1,450,000], which also became due, were *paid
off and canceled, and St. Louis Iron Mountain & Southern
Ry. Co. general consolidated railway and land grant mort
gage bonds (5$) issued in place of the canceled bonds, thus
making the general consolidated mortgage a first and only
lien on the line from Poplar Bluff to Cairo, as it is also on all
the company’s lines in the State of Arkansas.
Ir o n M ountain R oad E a rn s 4 P- c. on its S to ck .—If it
had not been for the payments made for refunding, the Iron
Mountain would have shown nearly one million dollars sur
plus to the credit of income account for the year, or about
4 per cent on its stock. After charging to income ¡account all
the money which has been paid for the above refunding, the
company could have made a dividend out of the surplus earn
ings for the year of 1 per cent, which would have gone into
the Missouri Pacific treasury and improved the Missouri Pa
cific income account to that extent, but it was thought more
conservative to reserve the money and apply it to the physi
cal improvement of the Iron Mountain property.
Vice-President Warner adds :
E arnings and Expenses.—The gross earnings, as compared with
those of the preceding year, increased $2,793,491, and the operating
expenses $962,787. The net earnings in 1897 therefore increased $1,830,704. The increase in cost of conducting transportation, motive
power and maintenance of cars is to be attributed to the heavy in
crease in freight train movement; $212,985 of the increased cost of
motive power resulted from the rebuilding and repairs of locomotives;
locomotive mileage increased 964,692 miles; 137 locomotives were
rebuilt during the year as against 73 last year.
Of the increase in cost of maintenance of cars, $73,638 represents
the cost of 580 freight cars receiving general and heavy repairs and
rebuilding during the year in excess of the previous year. Of this ex
penditure, $5v,7 iO was incurred in compliance with United States
laws as to safety appliances.
New 75-pound steel rail was laid on 43 miles of track on main lines.
Twenty three miles of track were newly ballasted. 2,227,463 cross
ties and 800 sets of switch-ties were laid at a cost, including labor, of
$946,339. Thirty-seven miles of new wire fence were built. The
erection of steel and iron bridges was continued during the year,
replacing wooden or other structures, at an expense of $108,986.
F in a n c ia l—When the funding transactions of the year are closed by
final disposition of general consolidated bonds issued in place of C. A.
&T. bonds purchased and retired, the net annual saving of interest on
funded debt St. L. I. M. & S. Ry. will be $169,000. The increase in
charges against income classed as “ Sundry Amounts ” compared with
previous year consists o l commissions paid fo’- extension of bonds;
these commissions amounted to $481,000.
F re ig h t 7 raffle.—The total tonnage of all classes of freight
for 1897, as compared with 1896, was increased on the Mis
souri Pacific by 815,141 tons, and on the Iron Mountain by
527,837 tons. There was an increase in volume of traffic of
14 per cent over the previous year, the notable increase being
bulk grain, although on the vast increase of tonnage the
relative proportions of the various classification divisions
hav* been found about the same as the previous year. W hile
the revenue has largely increased, the rate per ton per mile
still shows a slight decrease, namely, from -865 cents to -843
cents. This decrease is largely attributable ,to the reduction
of the average rate per ton per mile on the Iron Mountain
during first six months of the year 1897. In addition to the
interruption of traffic by the fever early in October Colorado
west-bound rates were greatly demoralized, owing to the
action of the water lines from New York via Galveston, and
considerable traffic was thus diverted from our line, since it
was deemed best not to attempt to obtain freight upon the
competitive divisions and rates, which in some cases were
below the cost of transportation.
P u rch ase o f E qu ip m en t.—During the year 1,000 box cars
and 100 farniture cars were purchased by The Missouri Pa
cific Ry. Co., at a cost of $680,164 54. These cars were built
with all the modern improvements, such as air-brakes, safety
couplers, steel bolsters, etc. [They were paid for with 115
notes, aggregating $464,927, due in monthly instalments of
$8,085 (two notes $4,042 each) from January, 1898, to October,
1902.]
Traffic S tatistics.—The following tables compiled from the
company’s reports shows the changes in tonnage of principal
articles carried, and other statistics:
MISSOURI PACIFIC R Y .— TONS CARRIED (OOOS O m it t e d ).
Year. Total.
1897___ 5,502
1896.......4,687
1895....... 4,379
1894.......4,326
1893.......5,081
Lum ber.
430 (7-8%)
338 (7-2%)
330 ('-5% )
318(7-4% )
387 (7-6%)
517
THE CHRONICLE
March 12, 1898. |
Live stock.
481 (8-7%)
420 (8’9%)
364(8-3% )
3 6 7 (8 5%)
350 (6*9%)
B ulk grain .
1,171 (210% )
874 (18-7%)
540 (12-4%)
797 (18-4%)
1,102 (21-7%)
Coal.
1,245 (22-6%)
1,192 (25-4%)
1,160 (26-5%)
1,015 (23-4%)
1,407 (27-7%)
ST. LOUIS IKON MOUNTAIN & SOUTHERN (OOOs O m itte d ).
Total.
Year.
1&97....... ..4,258
1896....... ..3.731
1895....... ..3 ,6 05
1894....... ..3 ,3 8 6
1893....... ..3,671
L um ber.
1,035 (24-3%)
926 (24-8%)
961 (26-7%)
858 (25-3%)
988 (26-9%)
B u lk grain .
479 (11-2%)
346 ( 9-3%)
137 ( 5-2%)
327 ( 9-7%)
394 (10-7%)
L ive stock.
182 (4-3%)
197 (5-3%)
178 (4-9%)
134 (3-9%)
189 (5-2%)
Coal.
34 6 18-1%)
314 (8-4%)
349 (9’7%)
310 (9-2%)
357 (9*7%
S tatistics—The statement of operations and earnings of the
combined Missouri Pacific and St. L. I. M. & So. system s for
three years is as below given. The Central Br. Union Pac.
Ry. and the Ark. & La. Ry. results are not included :
OPERATIONS AND FISCAL RESULTS OF MO. PAC. AND ST. L. I. M. & SO.
1897.
1896.
1895.
4,938
4,938
4,937
Miles operated.......... ........................
Operations—
Passengers carried......................
3,464,137 3,700,301
4,473,587
Passengers carried one mile___ 181,696,470 180,087,712 193,835,094
Rate per passenger per m ile... 2-201 cts.
2-233 ots.
2-186 ots.
Freight (tons) c a rr ie d .............
8,438,509
7,404,048
7,169,166
Freight (tons) carried one mile.2150159677 1782413913 1608150603
0-865 ots.
0-988 cts.
Rate per ton per mile................. 0 843 cts.
E arn ings ~
$
$
$
From freight.................................. 18,119,311
15,413,912 15,895,299
From passengers.......................... 3,999,843
4,022,138 4,236,931
From mails....................
1,015,417
1,000[952
976,502
From express..............................
413,426
430,290
454,538
From rents.................................
60,059
59,917
50,808
From miscellaneous..................... 1,197,396
1,084,752 1,057,926
24,805,451
22,011,960
22,672,004
6.998.993
4.878.994
3,464,100
1,536,003
576,022
6,643,416
4,298,033
3,710,350
1,299,684
539,842
6,517,750
4,465,281
3,873,328
1,619,087
545,695
Total.......................... V ............ 17,454,111
Net earnings................. .
7,351,340
Ratio of op.exps.&tax.to earns.
70*364
16,491,325
5,520,636
74-920
17,021,140
5,650,864
75 076
Total earnings...
Expanses—
Transportation......... .
Motive power.............
Maintenance of way
Maintenance of cars
General........................
The consolidated income accounts of the Mo. Pac. and St.
L. 1. Mt. & So. and leased and operated lines (excluding Cent.
Pac. and Ark. & La. Ry.) have been as below given:
CONSOLIDATED INCOME ACCOUNT OF MO. PAC. AND ST. L. I. MT. & SO.
1896.
$
5,520,636
532,492
Net earnings.............................. .
Other income, div., int., &o..
1897.
$
7,351,340
826,272
"1895.
$
5,650,864
1,081,881
Total..................................... .
D educt—
Interest on bonds..................... .
Rentals.......................................
Taxes..........................................
Sundry am ounts......................
8,177,612
6,053,128
6,732,745
5,437,288
497,277
911,622
836,303
5,550,700
496,944
922,738
344,507
5,440,381
511,610
912,126
458,874
7,314,889
Total...................................... . 7,682,490
Balance........................................ . sur.495,122 def.1,261,761
7,322,991
def.590,246
The statements of the Missouri Pacific Railway system and
of the St. Louis Iron Mountain & Southern Railway system,
separately, are given below for three years.
MISSOURI PACIFIC
R A IL W A Y
AND
BRANCHES.
EARNINGS ANO EXPENSES.
1897.
3,164
$
2,108,955
9,128,663
1,747,547
1896.
3,164
$
2,054,164
7,355,368
1,655,859
1895.
3,163
$
2,235,245
7,571,640
1,647,001
Total..................... .................. 12,985,165
E xpenses—
Trans portation........................... / 3,813,194
2,750,575
Motive power.............................
2,003,415
Maintenance of way................
883,682
Maintenance of cars................
287,366
General........................................
11,065,391
11,453,886
3,534,316
2,406,4x7
2,085,147
741,634
284,951
3,373,293
2,517,*-31
2,272,855
907,872
282,842
9,738,232
3,246,933
74-995
9,052,465
2,012,926
81-809
9,354,493
2,099,393
81-671
1896.
$
2,012,926
494,814
1895.
$
2,099,393
967,328
Miles operated December 3 1 ..
E arnings—
Passengers............ ....................
Freight.........................................
Mail, express and miscellan’s.
Tota........................................
Net earnings...............................
Per cent of op. exp. to earns..
INCOME ACCOUNT.
Receipts—
Net earnings, as above............
Dividends, int., rentals, & c...
1897.
$
3,246,934
787,852
Total net income................
D isbursem ents—
Interest on bonds.....................
Interest and exchange............
Taxes............................................
Rentals.........................................
Other charges.............................
4,034,786
2,507,740
3,066,721
3,058,437
103,226
640,744
116,182
22,382
3,034,224
130,469
649,638
115,849
28,176
2,955,158
1ft 6,699
633,690
130,515
11,519
3,958,356
3,940,971
Total disbursements.........
Balance for year....................... . sur.93,815 def.1,450,616
GENERAL BALANCE SHEET DECEMBER 31.
1897.
1896.
Assess-"
$
$
51,357,164
Cost of road and equipment.. 52,038,882
56,519,221
Investments in stocks &bonds 56,540,174
1.414.000
M. P. 5 p. c. f’d notes held........
1,414,000
1.262.000
St. L. I. M. & So. f’d notes held. 1,266,000
743,952
Materials & supplies on hand.
800,519
499,034
Cash...............................................
1,088,491
1,999,174
Sundry accounts collectible...
2,197,380
479,152
Miscellaneous accounts .........
412,723
65,628
Income account (def.)..............
.............
3,887,581
def.820,860
Total assets............................ 115,758,169 114,339,325
L iabilities—
47,442,375
Stock.............................................. 47,442,375
62,138,000
Funded debt (see I nv . Supp.) .. 62,138,000
987,810
Interest due and accrued........
994,853
2,303,161
Accounts payable....................... 3,338,653
1,325,850
Loans payable, seo’d by coll.. 1,325,851
142,129
490,251
Miscellaneous....... ......................
Income account (surplus).......
28,188
116,429,992
Total liabilities.
115,758,169
114,339,325
1895.
$
51,242,075
56,212,569
2.278.000
1.495.000
1,041,245
1,017.899
2,426,538
716,666
47,442,250
62,268,000
986,866
3,143,310
1,125.850
78,729
1,384,986
116,429,992
öl 8
THE
CHRONICLE.
ST. LOUIS IRON MOUNTAIN & SOUTHERN R A IL W A Y .
EARNINGS AND EXPENSES.
1897.
1,774
$
1.890,888
8,990,647
938,750
1896.
1,774
$
1,967,974
8,058,543
920,052
1895.
1,773
$
2,001,686
8,323,659
892,772
Total earnings...................... 11,820,285
Expenses—
Transportation...........................
3,185,799
Motive power.............................
2,128,419
Maintenance of way.................
1,460,685
Maintenance of cars.................
652,321
General.........................................
288,656
10,946,569
11,218,117
3,109,100
1,891,615
1,625,203
558,050
254,891
3,144,458
1,947,650
1,600,473
711,215
262,853
7,438,859
3.507.710
67-956
7,666,649
3.551.470
68-342
1896.
$
3.507.710
37,677
1895.
$
3.551.470
114,553
Miles operated December 31.
Earnings fr o m —
Passengers...................................
Freight..........................................
Mail, express & miscellaneous
Total expenses.....................
Net earnings...............................
Per cent of op. exp. to earns..
7,715,«80
4,104,405
65-277
INCOME ACCOUNT.
_
. „
Reee p ts—
Net earnings, as above............
Other receipts..............................
1897.
$
4,104,404
38,418
Total net income...............
IHsbursements—
Interest on bonds......................
Taxes...........................................
Rentals.........................................
Oar trust and miscellaneous...
4,142,822
3,545,387
3,666,023
2,378,850
270,878
381,095
*710,694
2,516,476
273,101
381,095
185,862
2,485,223
Total disbursements........... 3,741,518
Balance for year........................ sur.401,304
3,356,634
sur. 138,853
3,435,410
sur.230,613
381,095
290,656
*$483,000 of this is commissions, etc., in extending bonds.
GENERAL BALANCE SHEET DECEMBER 3 1 .
1897.
Assets—
$
Cost of road and equipment.. 68,168,388
1,871,015
Land gra n ts...............................
Investmentsin stocks & bonds. 8,191,907
Five p. c. fund’g notes in treas.
.............
Cash on band................
157,277
Arkansas land grant accounts.
204,346
Missouri land grant accounts.
12,293
Little Rock & Fort Smith R y..
341,356
Due from Mo. Pao. cur’t aoc't.
207,261
Sundry RRs. and individuals.
71,729
Miscellaneous.............................
32,624
1896.
1895.
68,138,033
1,887,024
6,630,693
Ì39,923
219,581
15,111
301,200
68,087,931
1,924,156
6,669,718
463,000
125,677
234,049
14,645
301,180
¿3.196
46,658
'62,257
47,£99
Total assets....... , .........
79,258,196
L iabilities—
Stock.............................................. 25,788 815
Funded debt (see I n v e s t . S u p .) 47,618,543
Car trusts......................................
963,500
Loan to refund bonds................ 1,850,000
Interest due and accrued.........
775,424
Due Mo. Pac. current account.
............
Rentals guaranteed, accrued..
179,672
Miscellan eous..............................
30,244
Income account..........................
2,051,998
77,441,420
77,930,513
25,788,315
47,590,216
1,242,000
25,788,925
47,623,217
1,520,500
8Ï8‘
,i67
166,384
178,672
6,471
1,650,694
766,439
584,324
178,751
6,517
1,461,840
Total liabilities................... 79,258.196
—Y. 66, p. 237.
77,441,420
77,930,513
$
$
erestof maturing car trusts; $162,419 expended in the construct,in«,
of the Richland Revised Line, and $181,785 paid out for lmprove^
ments and betterments, equipment, etc. The largest items in the«»
expenses for betterments were: $78,399, for the re-gradinsr of th«
road, widening of slopes, in the reduction of the maximum trade im
various portions of the line from 2 ^ per cent to l i 4 per cent and in
reducing curves from ten degrees to four degrees; $28.957, on ¿ “count
of new shops, other new buildings, etc.; $37,775, for the filling nf
t i t l e s and betterment and construction of trestles and steel bridgesand $22,714, expended for the rebuilding of cars and engines
To meet these large expenditures the company has increased its
temporary loans by about $400,000, feeling that this was a rather
better course to pursue than to market bonds during the unfavorable
flnancia1 conditions that prevailed. Against these outstand ng loanl
the company held in its treasury on June 30,1 8 97 , $253,000 t o t
mortgage preference bonds and $1,056,000 first mortgage consol,
bonds. Si nee the close of 1he fiscal year your company has sold of its
treasury securities these $253,000 first mortgage preference b on d s
which have realized the company par and acmued in v e s t net the
proceeds being applied t? the reduction of the company’s unfunded
debt. The balance of this unfunded debt will be either retired with
the company’s surplus earnings, or else by the sale of a d d ition a l
Treasury bonds, as may be deemed best.
additional
Vice-President and General Manager Cecil Gabbett says“ During the past fiscal year there has existed a universal
depression in traffic throughout this section of conntryhence, in my opinion, last year’s earnings are no criterion of
the earning capacity of this property. The property is a
new one, and although it traverses the best portions of the
States of Georgia and Alabama, yet it will take time to
develop its local business. We have every right to believe
that the results of next year’s operation will be much more
satisfactory than those of the past.”
The earnings, expenses, and charges, and the balance sheet,
have been as below:
EARNINGS, EXPENSES A N D C H A R G E S Y E A R ENDING JU NE 30, 1897.
Miles oper. June 30,’97.
457-80
E xpenses—
E arn ings—
Transportation..................$432,016Freight............................. $761,434 Way and structures......... 140,883
Passenger.......................
213,391 Equipment.........................
84,018
47,012 General and ta x e s............................ 80,864
Mail, express, etc.........
T o ta l........................ $1,021,837 |
Total............................ $737 735*
Net earnings.................
...$ 2 8 4 ,0 5 6
Interest on bonds.................................................................................. $210,200
................................................................................... .................. 61,900
Balance, s
u
r
p
l
u
s
.
.
.
....... ^ $ I l ’9 5 6
STATEMENT FOR THE SIX MONTHS ENDING DEC. 31, 1896 AND 1897.
1QQ7
Average mileage operated.................................
45a
Earnings........................
................ .....................$632,983
Operating expenses and taxes.............................. 419,792
1QQO
as«
$525,195345 388’
Net e a r n i n g s ...............
<cqiq iq i
Interest on bonds, and r e n t a l s ......... . . . . . . . . . 148,358
qo*7
125,850
Net Income over fixed charges......... ............ $64 833
$53 9 57
months the company retired with its net income
1897 and^ $ 3 ^ 6 ^
18696 ° f e<lmpment notes aggregating $45,707 in
£ ssefs __
CONDENSED BALANCE SHEET JUNE 30, 1897.
Cost of RR. equipment, etc.. . . . . . . . . . .
Savannah F lorida & W estern Ry.
( R ep ort f o r the y ea r en din g J u n e 30, 1897. )
The C h r o n ic l e has been favored with the following state
ment of earnings for the year ending June 30, 1897 :
1897.
1896.
1895.
Miles operated (average)................
874*8
874-8
874-8
Passengers carried.......................... 748,069
788,222
799,894
Passengers carried one mile.........31,569,883 33,262,968 34,963,369
Tons o f freight moved................... 1,493,391
1,479,326
1,712,239
Tons of freight moved one mile.180,096,212 179,463,261 183,677,096
E arn ings—
$
$
Passenger earnings.......................... 725,401
776,472
800,643
Freight earnings................................2,289,624
2,260,329
2,358,276
Miscellaneous.................................... 245 ,3 18
227,519
234,454
Total gross earnings................3,260,343
3,264,320
3,393,373
Operating expenses —
Transportation...................................1,285,482
1,443,040
1,465,505
Maintenance of "way. .-..................... 495,148
545,857
523,097
Motive power.................................... 512,657
424,202
5 69,028
General expenses.............................. 132)442
114,066
133,262
Total operating expenses........2,425,729
2,527,165
2,490,892
Net earnings....................................... 834,614
737,155
902 481
Other income...................................... 126,378
170,198
168,186
Total net income....................
960,992
907,353
1,070,667
Charges—
Intei est on bonds.............................. 767,190
759,440
759,440
Interest on debt.................................
12,605
2,325
Taxes.................................................... 117,773
120)201
122,409
Miscellaneous.....................................
1,094
16,821
898,662
Surplus over charges........- .............
62,330
Dividends paid (2p. c.)......................................
896,462
10,891
884,174
186,493
188,258
Balance for year....... .................sur.62,330
—V. 66, p. 473.
sur.10,891
def. 1,765
Georgia & Alabama Railway.
( R ep ort f o r the y ea r ending Ju n e 30, 1897J
President John Skelton Williams, under date of Nov 10
says in part:
'
’
In the reorganization it was determined to set aside funds and se
curities sufficient to b .ing- the property up to a strictly first-class
physical condition, and in pursuance of this policy the work of im
provement and betterment has been steadily carried on. The expendi
tures during the year, over and above operating expenses and taxes
and m addition to the cost of the Abbeville & Waycross RR., from Abbeville to Fitzgerald, 22 miles, and the construction of the 8 miles additional from Fitzgerald to Ocilla, and over and above the cost of the
Columbus & Southern RR. from Albany to Columbus, include $83 44 1
paid out during this period in the retirement of the principal and in
[V ol. LXVI.
Cash to pay interest.......................
Cash on hand and in transit.
Due by agents....................................
Due by individuals and companies.
Due by U. S. P. O. Department...
Materials and supplies.................
Miscellaneous...................
aji o aqr
4
' ’ ................................
o*
«a
59,550
21,392
32,778
7,316
7,637
63,416
4,956
L i a b & t U i - ................................................................................. $16,557,172
Stock (see S u p p l e m e n t ) ....................
*Q
non
Bonds and equip, notes (see Supplement )'.............................
Interest and rentals accrued, not due
........................
o l ’o i ?
Interst on 1st consols, due J u l v l .
......................................
Zk’Zkk
Sundry vouchers and accounts' pavablë.................................
Wages uncalled for.......
v 3
.............................
1 i kqI
-Loans, bills payable, etc.'.V .".'.'.'.'."'.'.'."''..............................
Profit and loss....... ........
..............................
40,562
Total.
$16,551,172
theS1$253Cooo
¿ a s sold at Par and interest, net,,
ductfon ofits iffifupded d K - y f o f ;
beiDg applied to re‘
Charleston & Savannah Ry.
( R ep ort fo r the y ea r ending Ju n e 30, 1897.J
„
Chronicle has been favored with the following state
ment of earnings for the year ending June 30, 1897 :
MiS a ^ d<aTerag61.........
ilara
F?eflhL6r" ...........
$183,345
ia w
$196,329
2f ? $ I
^ S S S 3 ^ S S S > ..........$571-109
.*“ « » »
Transportation ............................. $287,439
Maintenance of way, etc....... .
54,926Motive power..................
eV kai
General expenses................. l l " :
20,950
$287 1 66
64 354
Total operating expenses... . $416,856
Other income..................................
11,158
il)7 4 6
« 07« qn<i
$ 2o§’qq?
1
2 5,5 3 4
$429,530
$4 39 2 8 3
eooaa
T
7)753
o £ S L - tlnC° me" ...................M R A H .
Interest on bonds an*! debt.......... $101,325
-Laxes.................................................. 22,173
$IT m 52
$103,390
20,037
$122^385
$143,390
21,256
„ 1TOtal; ............................................$126,498
- Y a6 4 ? i ? 4 j r r .......................sur.$38,913
$123,427
def.$8,975
$164,646
def. $42,261
THE <JtfKl>NICLE
M arch 12, ld88.]
R a il r o a d s a n d M is c e l . C o.’s.
Volume 66—
Page.
Texas Central R ailroad.
( R ep ort f o r y ea r en din g Dec. 31, 1897.)
The earnings and balance sheet have been:
1897.
E a rn in g s—
$
’■Passengers........................ . . . . 61,984
Freight............................... ....2 5 9 ,5 3 2
Mail, express, etc............ . . . . 23,015
1896.
$
64,549
205,205
23,660
1895.
$
70,244
221,676
25,242
1894.
$
64,273
230,600
24,251
Total............................ ___344,511
Oper. expen. and taxes ....2 1 1 ,0 9 2
293,415
209,127
317,162
205,376
319,124
195,867
Net earnings............ .....1 3 3 ,4 3 9
Deduct—
Interest on bonds. . . : ___. . . . 15,000
Improvements................. . . . . 69,405
2,207
Miscellaneous................. . . . .
Dividends on stock........ . . . . 39,735
84,288
111,786
123,257
15,000
28,790
703
39,735
15,000
62,530
6,667
12,390
53.911
24.912
T otal............................ ....1 2 6 ,3 4 7
Surplus............................... . . . .
7,092
84.228
60
84,197
27,589
91,213
32,044
B A L A N C E SHEET D E C . 3 1 , 1 8 9 7 .
Liabilities.
{Property account.........$4,223,900 First mortgage bonds.. $500,000
Bonds in treasury.........
250,000 Stock (common)............. 2,649 400
-Cash in bank.................
6,882 Stock (preferred)........... 1,324,500
Due from RR. & others.
53,176 Due RR. and oth ers....
50,467
Supplies............................
5,821 Misceli, accounts.
29,635
72,261 Income account............
Steel rails, etc................
103,007
"Waco terminal property
45,040
A ssp.t.s.
Total assets................$4,657,060
—V. 66, p. 428.
Total liabilities.
$4,657,060
L ouisville Railw ay Company.
( F o r the y ea r en din g Dec. 31, 1897. J
1897.
1896.
1895.
1894.
$
$
$
$
Total earnings................... 1,238,042 1,234,526 l,2 3 8 ;i7 2 1,176,7*9
680,575
719,686
675,690
Expenses and taxes........ 722,626
Net earnings................. 515,415
Interest on bonds.............. 310,361
Dividends............................. 203,125
Improvements, etc...............................
553,951
311,023
200,000
40,000
568,486
501,099
311,760
313,515
100,000
100,000
..................................
Total payments............
Net earnings........................
551,023
2,928
411,760
156,726
513,486
1,940
413,515
87,584
GENERAL BALANCE SHEET DECEMBER 31, 1897.
Assets—
I L iabilities—
Cost of road and equip| Capital stook paid in.. $6,000,000
ment............................$12,630,597 IFund, debt outstand’g
5,999,800
Stocks and other in|Unfunded and current
vestments..................
45,007
debt.........
291,596
A ll other assets...........
277,659 | Profit and loss.
661,868
Total assets...............$12,953,264 | Total liabilities.$ 12,953,264
—Y. 64, p. 1181.
St. Louis Term inal Cupples Station & P roperty Company.
( R e p o r t f o r the n in e a n d o n e-h a lf m on ths en d in g Dec. 31,1897. J
The following statement is ma ie for the nine and one-half
months ending Dec. 31, 1897:
Receipts from rents.........................'......................... , .......................$212,235
Expenses, including taxes and insurance..................................
47,079
'
$165,156
Nine and one-half months’ interest, $3,000,000 4*3 p. c. bd s.. 106,875
Extraord’y expenses—Incorp. expenses and disbursements...
$58,281
9,979
$48,301
The traffic handled during the calendar year 1897 aggre
gated 282.733 tons, contrasting with 235,604 tons in 1896, an
increase of 47,129 tons, or 20 per cent.
Three out of the four new buildings whose earnings are
not included in the above statement have n ow been rented
at an annual rental of $19,000.—V. 65, p. 1072.
American Sugar R efining Company.
(B a la n c e S heet o f Dec. 31,1897. J
The company, following its usual custom, has filed with the
State of Massachusetts the follow ing balance sheet of Dec. 31,
1897.
A StRP.T.S___
SjJ
1896.
1895.
$
1894.
$
Real estate, etc....... 37,691,871 43,140,770 43,140,709 4 3 ,1 19 866
dash and debts rec. 25,582,503 21,778,447 24,674,293 19 428’ 000
Sugar,raw & refined 22,489,384 13,864,207 12,462,77« 10 742*456
Improvement acct.........................
6,618,003
6,287,233
5,607,563
Investm’tsin other
companies............ 30,347,656 28,251,435 25,692,000 26,201 599
T otal................... 116,111,416113,652,862 112,257,021 105,099,484
L iabilities—
'
'
■Capital...................... 7 3 ,9 3 0 0 0 73,936,000 73,936,000 73,936.000
D ebts........................ 31,150,525 27,530,942 25,139,765 21,394 000
Reserve................: . . 11,024,890 12,1»5,920 13,181,256
9.769,484
Total..........
♦-V. 66, p. 132.
..116,111,416 113,652,862 112,257,021 105,099,484
GENERAL INVESTMENT NEWS,
Reorganizations, Etc.—L a test D a ta a s to D efau lts, R eo r
g an ization P lan s, P aym en t o f Overdue Coupons, E tc .—All
facts of this nature appearing since the publication of the last
issues of the I nvestors’ and the Street R ailw ay Supple
ments may be readily found by means of the following index.
This index does n ot include matter in to-day’s Chronicle.
Adams E xpress... .official circular. 470
Balt. & Ohio ...D efault, etc., Mar. i 470
l i r o o k l y D &Brisfht’n B ch .rco sct/s. 287
Brunswick Light & Water.soici.18«, 471
Central Ohio R R ........ coupon paid. 470
Central W ashington R R ... .said. 183
Chicago R. I. & P a c ...r e /im i..235, 288
Chic. & So. East RR.applic. fo r rear. 288
Cit. Elec. Light (Houston).receiwer. 235
Col. & H ock. O. & Lrecv. discharged. 183
Col. Hock. V. & T o l...Mar. coupon. 471
Col. Sand. & H ock .............revs. ctfs. 471
Conners ville Gas & Electric, sold. 335
Denver & R io G rande...refunding. 236
Duluth Gas & W ater C o ......... sold. 336
Eiectro-Pneu. T ra n ..com. 183,236, 384
East & W est (A la.) RR...decision. 384
Equitable Gas L t..plan operative... 337
F ort Plain & Rich.Spr.soi« postp’d. 183
Galveston Laporte & Houston.sale. 471
Great N orthern.......... . .ne w bonds. 471
Great Sou. Teleph. & Teleg..con.soi. 384
Hutchins’n & So.soid.! 8 i; new seen. 238
International Paper Cos.
c o n s o 288
Kankakee W ater Co........ receiver 183
La Follette Coal& lr.Go.foreclosure. 336
Lake S.&Mich So .pend’g consol.237, 283
Little Rock & M em phis__ ....sale. 471
Mammoth Cave Ry. ___ sole. .236, 237
Manitoba & Northw’n . .foreclosure. 472
Memphis & Charleston....soid..237, 472
Montgomery Light Co ............sold. 237
Morristown & Cumb. Gap........ sold. 426
Musk. Gd. Rap. & Ind.cowp. ..paid. 426
Natalie Anthracite Coal..........s ile. 184
N. V. & E. Riv. Gas.plan operative. 337
N. Y. Biscuit___plan underwritten. 237
N.Y.C. & H. R..pending consol.237, 288
N.Y. Susq. & W . RR .offer from Erie. 336
N orfolk & Ocean V ie w ..,........ sale. 184
5i9
R a il r o a d s a n d M is . Co . (Con.)—
Volume 66—
Page.
N o. P ac. R y. offer to General F irstfa, 337
O gdensb. & L a k e C ham p, .sale ord. 437
P e co s V al. RR.r.organiz’n effected. 338
P e n n .H e a t,L t.& P o w .p ia n effective. 384
P en n . S teel C o .. . .coupon in scrip. 427
P e o r ia D e c. & E v . . . deposit notice.. 184
P eoria W a t e r C o. . .p l a n modified. S38
R apid T ra n sit in N .Y . C ity ___ plan. 289
R o c k y M o u n tain Oil C o ......... recur. 338
R o m e & C a r ro llto n ........ foreclosure. 478
S ou th J e r s e y .............plan, 185; sole, 473
S tandard P la te G la ss......... receiver. 238
T o le d o St. L. & K . C....... recivs ctfs. 428
T o p e k a B e lt R y ............ sale ordered. 428
T o p e k a W a te r Co.coups. to be fund. 339
U n io n P a c ............ payment of 1st 6s. 288
do
sale o f m am line confirmed. 385
do
Morgan notes ( gold 6s o f ’91)
290, 339, 427
d o coll, for 6s o f 1879 sold.238,385, 427
d o Kansas Pacific sold............385, 427
d o sale of coll, fo r tr. mold, o f
1883.......................................339, 487
d o final notice to stockholders.... 339
d o pref .' stock issuable to a r t.
holders fo r gold notes 6s......... 427
d o add. to new se cu rities ............ 473
U n ion P acific L in co ln & C o lo ra d o
R y . . . . . U. P . offer accepted. .383, 473
W . G. H itc h c o c k * C o ,pl.operative. 185
W is c o n s in C e n tra l..................... reorg. 385
Z a n e s v ille T e rm in a l R y...receiv er. 185
St r e e t R a il w a y s .
B r o o k ly n E l. R R .2 d instal. o f asses.
C in cinnati In c. P la n e .................. sale.
L y n c h b n g E le c tr ic ....................... sold.
P a rk C ity (B o w lin g G reen, K y.)soid.
S yracu se E ast S ide R y. ...default.
883
471
472
472
473
American Hard R ubber Company.—C on solid ation .—This
company is being organized to consolidate the India Rubber
Comb Company and the Butler Hard Rubber Company of
this city and the Goodrich Hard Rubber Company of Akron,
O. The new company, it is stated, will be capitalized at.
about $2,500,000. Its headquarters will be at Nos. 9, 11 and
13 Mercer Street.
American Steel & W ire.—M odified P la n s.—The inability
to agree as to the valuations o f a number of the properties
has led to a modification of the plan of union, which origi
nally provided for the consolidation of practically all the
leading wire nail companies of the country under the title of
the American Steel & W ire Co. with $87,000,(00 of capital
stock. The report now is that the new company (name not
decided) w ill be capitalized for $24,000,009 and will em
brace the seven plants of the Consolidated Steel Co., the Ellwood plant of De Kalb, 111. ; the two plants o f the Salem
W ire Co., the two plants of the Horse Power Nail Co., and
the American W ire Co., of Cleveland.—V. 65, p. 1218.
American Thread Co.—C o n solid ation .—This company was
incorporated at Trenton, N. J., March 10, to consolidate the
leading cotton thread properties of the country other than
those held by J. & P. Coats, Limited, of England. The au
thorized capital stock of the new company is $6,0(0,000 of
common and the same amount of preferred stock, both in
shares o f only $5. The incorporators are Peter Lowe, Charles
N. King and Ernest F. Charles, all of Jersey City. Among
the plants to be absorbed, it is stated, are the Willimantic
Linen Co., the Merrick Thread Co., the William Clark, the
Barstow, Summit, Hadley, National, Warren, Kerr, Ruddy,
Glasgo and New England thread companies, the Glasgo Yarn
Company and Alexander King & Co. The consolidation is
being effected under the direction of Mr. John Dos Passos.
A tlantic & Pacific RR.—Atchison Topeka & Santa Fe Ry.
—L a n d G ran t F o reclosu re.—A t Prescott, Ari., March 10, the
Arizona land grant of the Atlantic & Pacific RR. was sold
under foreclosure and purchased by E. Wilder, Treasurer of
the Santa Fe Company, for $6,500. This portion of the land
grant, it is stated, includes 1,500,444 acres. The total acre
age of the unsold lands covered by the Western Division grant
was, at last accounts, about 15,t 00*000 acres. The Atchison
will presumably bid in the remaining lands at the foreclo
sure sales iu the other States—Y . 65, p. 1222; Y. 66, p. 425. •
B rooklyn Elevated R R .—The B rid g e C onnection.—T h e
cash assessmente levied under the plan aggregate $1,921,500,
one-half of which sum has already been called and was pay
able not later than March 7. The commitee, therefore, is in
funds to make the changes necessary in order to run the ele
vated trains across the New York and Brooklyn Bridge.
Work on these changes began on Monday and it is hoped
through service to New York may be begun some time in
June. Twelve electric-motor cars are being built to haul the
trains from the Tillary Street station in Brooklyn, at which
point the steam locomotives will be detached, to the tracks of
the bridge. Cars of the elevated road are also being equipped
with side doors and grip attachments so that they may be op
erated, when on the bridge, precisely as are the bridge cable
cars. The reorganization, it is thought, will hardly be com
pleted before the bridge connection is in use.—Y. 66, p. 383.
B rooklyn Rapid Transit.—In crea sed E a rn in g s.—With re
gard to the large increase in the company’s earnings as a
result o f the running of cars direct io New York by way of
the Brooklyn Bridge, President Rossiter makes the following
statement:
“ It is a wonder to me where all the people are coming
from. W e are doing an immense business on all our lines
since we began to cross the bridge. Our receipts have in
creased from $700 to $1,200 a day. I .think we are taking a
good many people from the ferries. Oar Flushing Avenue
line has grown to be one of the best paying lines, and is now
on a par with those of Gates Avenue and Fulton Street. The
latter have always been our best-paying lines.
THE C
520
“ W e are going to put the Court Street line on the bridge
as soon as our new cars arrive. W e expect a shipment of
twenty new cars to arrive soon and have ordered 130 alto
gether.” —V. 66, p. 383.
Canal & Claiborne R R .—New Orleans & C arrollton RR.
—Officers, E tc .—Ford, Bacon & Davis, of 220 Broadway,
New York, as stockholders and managers of these properties,
make the follow ing statement:
With regard to the Canal & Claiborne RR , the electrical reconstruc
tion was entirely completed February, 1897. The par value of the
stock has been changed from $40 per share to $100. Of the directors
J. W. Castles has been replaced by Charles Newman, and J. K. New
man by C. B Stroudback. One of the members of our firm, George H.
Davis, is manager of this road.
The officers of the New Orleans & Carrollton RR. for the present
year areas follows: President, J. K. Newman; Secretary, W.V. Crouch;
Manager, George H. Davis; directors. J. K. Newman, S. H. March, G.
W. Bacon, A. C. Kains, S Y. Fornaris, T. J. Feibleman, B. M.Harrod,
Thos. McDermott, Chas. Goll, Jr.
Central London Ry.—General E lectric—W estinghouse
A ir Brake.— C onstruction a n d E qu ip m en t.—The March issue
of the S treet R ailw ay Jo u r n a l contains an article on the Cen
tral London Underground R y., an electric line 6 ^ miles in
length, extending under the heart of London, and now being
built at a cost of about $15,01.0,009. The particular interest
to American readers which attaches to this road lies in the
many points of similarity which it possesses with the
proposed rapid transit line in New York, both in equipment
and in the districts to be served.
Another feature interesting to our readers is that practically
all of the apparatus for the line is being built in America.
Thus the locomotives, motors, generators and rotary con
verters are being built by the General Electric Co. of Sche
nectady, N. Y .; the engines by the E. P. Allis Co., of Mil
waukee, W is.; the station coal conveyors by the C. W. Hunt
Co., of New Y ork ; the piping valves in the station by the
Crane Co., of Chicago; the rail bonds by the Washburn &
Moen Mfg. Co., of Worcester, Mass., and Harold P. Brown,
of New York ; the air brakes by the Westinghouse Air Brake
Co., of Pittsburg, and the car couplers by the W . T. Van
Dorn Co., of Chicago; finally, the designing engineer was
Mr. H. F. Parshall, an American.—V. 65, p. 151.
Chicago & Atchison B ridge.—S old .— At the foreclosure
sale March 4 the property was purchased by H. E. Kelley of
Cleveland, O., representing the bridge reorganization com
mittee, for $500,000.—Y . 65, p. 366
Chicago St. Paul M inneapolis & Omaha R y.— L is t i n g R ig h t to E x ch an g e F ir st M ortgage B o n d s.—The company’s
several issues of first mortgage bonds are of two classes.:
First, $3,000,000 Chicago St. Paul & Minneapolis first mort
gage bonds due in 1918 and $800,000 North Wisconsin bonds
due in 1930, total $3,800,000. These bonds are “ exchangeable
oh surrender to the trustee, the Central Trust Co., dollar for
dollar, for the consolidated 6 per cent bonds of this company
(which are due June 1, 1930), and the bonds so exchanged
and surrendered are to be canceled in accordance with the
provisions of the mortgage. The other class, St Paul &
Sioux City bonds, $6,070,o00, Hudson & River Falls, $125,000,
and St. Paul Stillwater & Taylor’s Falls, $335,010, total
$6,530,000, has not the privilege of exchange, and will be
paid when they mature either by the issue and sale of consols
reserved lor them or otherwise as the railway company may
q f* fVioir
m df.nt*i f.Y pIpp.I*,
Of the Chicago St. Paul & Minneapolis bonds $33,000 have
recently been exchanged, under the above-mentioned option,
for consols, and these consols have been listed this week on
the New York Stock Exchange. Further exchanges t eing
expected, the Stock List Committee has been authorized
to add to the list from time to time additional consolidated
mortgage bonds to an aggregate amount of $967,000, when
officially notified that said bonds, have been issued in ex
change for existing bonds of the first class as above desig
nated—V. 66, p. 424.
Chicago Milwaukee & St. P aul Ry.—E x tr a D iv id en d.—
The directors on Thursday voted to pay in April an extra
dividend of % of one per cent in addition to the regular 2 per
cent on the common stock. This stock received 2% both
in April and October, 1897, with an extra dividend of 1 per
cent at the latter period; in 1896 its dividends aggregated 4
per cent, in 1895 2 per cent, in 1894 and 1893 4 per cent, in
1892 2 per cent, and nothing in 1891 and 1890.—Y. 66, p. 471.
O Coney Island & B rooklyn R R —R estrain ed fr o m M aking
M ortguge f o r $1,500,000. The Appellate Division of the Su
preme Court on Monday sustained the action of the lower
court in granting to Patrick H. Flynn an injunction restrain
ing the company from making a mortgage, the total author
ized amount of which, for present and future use, would, it is
alleged, be in excess of two-thirds the present value of the
road. The proposed amount of the mortgage was $1,500,000,
but of this sum $500,00 0 was not to be issued at present,
being reserved for future requirements; but the Court holds
that under the law the total authorized issue of bonds, as
well as the actual issue, must not exceed the company’s
capital stock nor two-thirds of the present value of the
property.—V. 66, p. 425.
Eastern Elevator Co. of Buffalo.—$1, 000,000 S tock L isted .
—The stock of this company ($1,000,000) has been listed on
the New York Stock Exchange. The company owns on the
Buffalo River Water front a receiving and storage elevator
with a capacity of 1,700,000 bushels and a maximum receiv
ing capacity of 45,010 bushels per hour. This property is
subject to a mortgage for $250,.010. The company reports:
ONICLE
[VOL. LX’Vl.
Since June 5 ,1 8 9 7 , four dividends of ^ per cent on the capital
stock, amounting all told to $20,000, have been paid, together with
$12,849 for taxes, insurance and accrued interest on mortgage. After
these payments were made the company had cash on deposit Oot. 18,
1897, $42,745.
Edison E lectric Illu m in ating Co. o f New Y ork.—L istin g .
—The Stock List Committee of the New York Stock Ex
change has been empowered to add to the list from time to
time the $1,262,060 new capital stock as from time to time
notice shall be received that the same has been issued, mak
ing the total amount listed $9,200,0 0.—V. 66, p. 384.
Kansas City W atkins & G u lf Ry .— Receiver. —Henry B.
Kane, who was appointed receiver by the United States Dis
trict Court, has taken charge of the property.—V. 65, p. 1220.
Lehigh T alley R R .—E a rn in g s in New Y ork S ta te.—The
lines in New York State, total 597 miles, report for the
quarter and six months ending Dec. 31 as follows :
3 mos. end.
Gross
Dec. 31—
earnings.
1 8 9 7 .........................$ 1 ,82 4 ,30 4
189 6
................ 1,691,298
6 mos.—
1897
.................$3,412,371
1 8 9 6 .......................... 3,279,365
—V. 66, n. 236.
Net
Interest,
earnings.
taxes, etc
$821,339
$283,730
742,329
285,301
Balance,
surplus,
$537,609
457,028
$1,369,114
1,346,282
$815,196
810,024
$553,918
536,258
Long Island R R .—P u rchase o f S treet R a ilw a y S tock.—
The company has purchased nearly all the $30,0 j0 capital
stock of the Huntington (Street) R R ., a line three miles in
length, and bonded for $26,000. The new owners will re
build the road and equip it with the trolley.
Voting T rust.—More than a majority of the company’s
capital stock having been deposited under a voting trust
agreement dated Feb. 1, 1897, with the United States Mort
gage & Trust Co., notice is given that the remaining shares
will be received on the same terms. Stock trust certificates
are issued in exchange for the deposited stock.—Y. 66, p. 471.
M etropolitan Street Railw ay, New Y ork.—E x ten sion o f
Trolley L in e. Underground trolley cars began lunning this
week on the Madison Avenue line over the entire distance
from the City Hall to 135th Street. Everything worked
satisfactorily and the cars were well patronized. The line
will eventually be extended over the remaining two blocks
to the Post Office, but as je t the authorities have not allowed
tne street to be opened, and it is doubtful when the loop can
be built.—Y. 66, p. 426.
Midland Terminal Ry.—$ 400,000 B on ds S o ld .—The stock
holders have authorized the sale of $400,000 of 5 per cent
bonds, due in 1925 to E. H. Rollins & Sous, —V. 61, p. 967.
Milwaukee E lectric Ry. & L ight Co.—$603,000 C( nsol. 5s
L isted .—The consol, mortgage 5s o f 1926, listed on the New
York Stock Exchange, have been increased to $6,103,0 0, in
order to include $603,000 bonds issued for the follow in g:
For the payment of obligations assumed upon the acquisition
of the property of the Milwaukee Street 6y. Co...................... $225,247
For the purchase of the property of the Milwaukee Arc Light
Company.................................... ...........................¡i............................ 63,651
For extensions of the railway and lighting system................... 194,760
For relaying track and other permanent betterments and im
provements........................................................................................ 120,110
Total.................................................................- .............................. $603,767
The mileage of single track own-d has increased from 125
miles June, 1896, to 137 miles Dec. 31, 1897.—Y. 65, p. 1221.
Nashville T ellico & Charleston.—R eceiv er.—B o n d Issue
V oid.—The court at Knoxville, Tenn., it is understood, has
declared null and void the $189,000 bond issue of this com
pany, and has appointed O. R. Brigham of Knoxville, Tenn.,
receiver, in place of H. J. Eaglesing. The road extends from
Athens to Tellico Plains, Tenn., 23 miles.
Nebraska Maximum Freight Case.—S tatu te U nconstitu
tion al.—Justice Harlan on Monday handed down the decision
of the United States Supreme Court, sustaining the decision
of the Circuit Court of Appeals, and holding unconstitu
tional the Nebraska law of 1893, which prescribed maximum
rates for carrying freight between points within the State.
An article on the decision appears in our editorial columns.—
New Amsterdam Gas Co., New York.—C on solid ation Com
p leted .—On March 4 the stockholders in the East River, the
Equitable and the New Amsterdam gas companies ratified
the consolidation agreement, and the next day notice of its
consummation was filed with the Secretary of State at A l
bany. The directors of the consolidated company are :
James E. Tolfree, William C. Lane, Edward M. F. Miller, Frederick
E. Eldridge, William O. Cox, William T. Eldridge, Sherman Flint,
Frederick P. Voorhees and Matthew F. Johnston, of New York City;
John B. Summerfleld, of Brooklyn, and Noel Gale, of Clifton.—Y. 66*
p. 337.
New York Central & Hudson R iver R R .— Q uarterly.—
Earnings for the quarter and the nine months ending March
31 have been reported, the figures for 1897 being partly
estimatedGross
Net
3 mos. end. earnings, earnings,
Dec. 31—
$
JL____
1898*... 10,800,000 3,400,000
1 89 7....10,133,424 3,246,448
9 mos.—
1898*...35,102,000 11,580,- 00
1897 ...3 3 ,07 1 ,88 8 10,690,825
First
Dividends
charges.
paid.
Balance*
$
*
$
2,600,000 (1%)1,OOO,OO0 def.200,0002,635,862 (1%)1,000,000 def.389,414
7,844,000 (3%)3,0 0,000 sur.736,000
7,900.096 (3%)3,000,000 def.209,271
* Partly estimated.—V. 66, p. 472.
New Orleans Traction.—R eo rg a n iz a tio n D elayed.—The
conflicting opinions as to the earning power of the respective
roads composing the New Orleans Traction has made it im
possible to reach any agreement for the reorganization of the
company. The Seligmans are understood to favor a reduc-
M arch 12, 1898.]
THE CHRONICLE,
621
tion of the interest on the collateral trust notes from six
to four per cent, provided the Crescent City consol, fives can
be reduced to four per cent. Operating expenses have been
curtailed and earnings have so improved that the manage
ment advise postponement of reorganization until it can be
seen what the property can do.—V , 66. p. 381.
Northern P acific R y .—§686,000 P r io r L ien G old B on d s
L is ted .—The prior lien bonds quoted at the New York Stock
Exchange have been increased from $>83,514,500 to $84,198,500,
in order to include $684,000 bonds issued in exchange for
$ 558,00 0 general first mortgage 6s. There are $10,541,000 of
general first mortgage bonds now held by the public. V. 66,
p. 426.
Oregon Im provem ent—P acific Coast ,Co. A ssessm ent.—
The Oregon Improvement reorganization committee gives
notice to depositors of consolidated mortgage bonds and pre
ferred and common stock, under the agreement of reorgani
zation, that the sixth instalment required by the agreement
has been called, payable at the Manhattan Trust Co. of New
York or the Old Colony Trust Co. of Boston on or before
March 22 — V. 66, p. 83.
Oregon Short Line.—C on trol P u rch ased f o r Union P acific.
—As stated below, the Union Pacific committee has recently
purchased enough of the stock of the Oregon Short Line, in
addition to the $8,460,00) obtained last October from the
Morgan trust, to give the new Union Pacific Company a
practically controlling interest therein.—V. 66, p. 135.
been agreed, shall become the property o f the Union Pacific
R R . This branch has been owned by the Union Pacific
Denver & Gulf Ry. The Colorado Central bonds, on the other
hand, to the amount of $ i,600,000, recently purchased by
Kuhn, Loeb & Co., have been turned over to the reorganiza
tion committee o f the U. P. D. & G.
The present intention is not to include the remainder of the
Denver & Gulf road in the Union Pacific system.
In ju n ction D en ied .—Justice Chase on Monday denied the
application for an injunction to prevent the reorganization
committee from issuing in excess of $75,000,000 of bonds for
reorganization purposes. Referring to the announcement of
the committee on Jan. 29, 1897, of its intention to limit the
bond issue to this amount, the Justice said :
P eople’s Gas L ight & Coke Co. o f C h icago—$2,500,000
R efu n d in g B o m s L isted —C on solid ation s.—The company has
listed on the New York Stock Exchange $2,500,000 refund
ing 5 per cent bonds of 1897, due Sept. 1, 1947. These bonds
are secured by mortgage for $40,000,C00 to the Central Trust
Co. as trustee and were issued in lieu of $2,500,000 Chicago
Economic Fuel Gas bonds. The last-named bonds were in
cluded among the “ existing bonds” in the application of Oct.
4, 1897 (V. 65, p. 727), but they were then owned by the Peo
ple’s Company, and they have since been turned over to the
trustee of the refunding mortgage in exchange io r the con
sols now listed. The company presents to the Exchange the
facts from the recent annual report (see V. 66, p. 332, 382,
472), and adds the following:
A further issue of the 4s to the amount of $'8,765,000 will
be made for the acquisition of the Kansas Pacific. This will
make $90,000,00 >of the bonds outstanding and leave $10,0u0,00) of the authorized issue for future requirements. There
is also in the company’s treasury, as free assets, a large amount
of bonds and stocks of other companies representing prop
erty of greal value and yielding a considerable revenue.
The mortgage covers about 1,830 miles of road, consisting
of the main line from Council Bluffs, Iowa, to the junction
with the Central Pacific five miles west of Ogden, a distance
of 1,050 miles, and the Kansas Pacific lines, 780 miles. It
also covers all terminals, the Omaha bridge and all the equip
ment of the company. It also covers the land grants of the
old company
The remainder of the authorized $75,000,000 of preferred
stock, viz , $15,750,000,’will be used in the acquisition o f the
Kansas Pacific division. The rights of the holders of the
preferred stock are set forth in the company’s articles of
| association as follows:
Since the application of Oct. 4, 1897, and under a certain agreement
of consolidation, dated Jan. 1 0,1 8 9 8 , the Hyde Park Gas Co. became
consolidated with the People’s Gas Light & Coke Co., and under such
consolidation the capital stock of the Hyde Park Gas Co. is canceled,
and this company assumes the bonded indebtedness of the Hyde Park
Gas Co., as follows: First mortgage 6 per cent bonds, dated Sept. 1,
1884, due Sept 1 ,19 0 4, interest payable March 1 and Sept 1, $200,000.
Under an agreement of consolidation dated Jan. 10,1 8 98 , there was
also consolidated with the People’s Gas Light & Coke Co. the Mutual
Fuel Gas Co. Under the agreement of consolidation the capital stock
of that <oinpany, $1,500,000, is canceled, and there is issued by that
company and guaranteed by the People’s Company the following
bonds: First mortgage 5 per cent bonds, dated Nov. 1 ,18 9 7, due Nov.
1 ,1 9 4 7 , interest payable May 1 and Nov. 1, $5,0 0,000. Application
will shortly be made to list the bonds above mentioned of the Mutual
Fuel Gas Co. The bonds of the Hyde Park Gas Co. and of the Mutual
Fuel Gas Co. are not included in the bonds provided for under the re
funding mortgage, but they should properly be added to the total
amount of outstanding bonds, $29,046,000, as shown by the applica
tion of Oct. 4 ,1 8 9 7 — V. 66, p. 472.
R apid Transit in New York City—D ecision a s to B o n d .—
The Appellate Division of the Supreme Court yesterday denied
the application of the Board of Rapid Transit Commissioners
for a re-argument of their motion to confirm the report of the
Court Commission approving the plans for an underground
tunnel. The Court granted substantial relief, however, by
providing that the amount of the bond continuing during
operation shall be $1,000,< 00, and that the bond for perform
ance of the contract to construct and equip shall be $14,000,000, and that a pool bond may be given by sureties, cor
porate or individual, who can justify for a half million each.
The opinion was written by Presiding Justice Van Brunt,
in which Justices Rurnsey and Patterson concurred.—V. 66,
p. 289.
“ 1 am of the opinion that the announcement of Jan. 2 6 ,1 8 9 7 , was
not intended as a okange of the original plan and agreement, and as
the same was not lodged with the depositors or published in accord
ance with the agreement, the committee is not hound thereby; and
the statements therein do not constitute a representation or warranty
binding upon the committee, or a condition of the deposit of security
thereunder; and the committee now has full authority in its discre
tion to use $90,000,000 or any other amount not exceeding $100,000,OOO of the first mortgage bonds of the new company for reorganiza
tion purposes.”
New S ecu rities L isted .—The new securities of the Union
Pacific Railroa i Co. were listed this week on the New York
Stock Exchange, as follows:
First mortgage 4 per cent gold bonds of 1947........................$71,235,000
Preferred stock noa-cumulative, 4 per cent.. ..................... . 59,250,000
Common stock—total authorized issue.................................... 61,000,000
“ Suck preferred stock shall be entitled in preference and priority
over the common stock of said corporation to dividends in each and
every fiscal year at such rate not exceeding four per cent per annum,
payable out of net profits, as shall be declared by the board of direc
tors Suoh dividends are to be non-eumulative, and the preferred
stock is entitled to no other or further share of the profits.”
The earnings of the main line and Kansas Pacific and Den
ver Pacific lines for the fiscal year ending Dec. 31, 1897 were :
Gross earnbigs.............................................. - ..............................
Operatiog expenses, including taxes................................... — 10,842,379
Net earnings.........................................................s------ -------- $5,602,513
There are outstanding car trust obligations not exceeding
$435,000, for the payment of which, as rapidly as the same
can be obtained, provision has been made. The company has
no floating debt.
B ra n ch L in es.—In addition to the main lines of the Union
Pacific, Kansas Pacific and Denver Pacific, which aggregate
1,830 miles, the Reorganization Committee contemplates that
the n w company shall own or control the following
branches (see map in I n v e s t o r s ’ S u p p l e m e n t ):
Oregon Short'Line RR. (controlled as above stated.)
Miles.
Granger, W y., to Huntington on Or. RR. & Nav. lines............ ) ^ 430
Helena, Montana, to Frisco, Utah, etc...........................................> ’
Leavenworth Kansas
Western (former Kansas Central),
Leavenworth to Miltonvale, Kansas.................................................. 165
Union Pacific Lincoln & Colorado—Salina to Oakely, Kan. (V.
^25
66, p. 385.).............................................
Julesburg branch of U. P. D. & G , Lasalle, Col., to Julesburg
(see above)............................................. ............ —
.......................... 1®1
Omaha & Republican Valley.................................................................... 482
S ch uylkill & Lehigh RR .—In crease o f S tock.—The stock
holders will vote April 30 on a proposition to increase the
W e understand that the interest in these properties as
capital stock from $50,000 to $600,000.
acquired is deposited in trust to secure the temporary syndi
Union Pacific R R.—Oregon Short Line RR.— C ontrol cate which provides the money to finance the purchases until
P u rchased.— It is reported that a “ controlling” interest in such action is taken in the future as will merge all the prop
the capital stock of the Oregon Short Line RR. has been erties concernedi n the Union Pacific system. The nature of
he security to be issued on account of the additional mila
purchased for th 9 new Union Pacific. The total capital stock
ge has not been determined. It will not, however, we are
of the Short Line is $27,460,100, of which sum $8,460,000 was
nformed, whatever its character, materially increase the compurchased last December by the U. P. reorganization com
»any’s fixed charges.
mittee. Recent purchases have increased thia amount to a
P aym en t o f E a stern D ivision B o n d s.—Special Master
“ controlling” interest. The control, it is still stated, is not
Yilliam D. Cornish gives notice that he will be prethrough the ownership of an absolute majority of the stock,
>ared on April 25 to pay at the Mercantile Trust Co., 120
but by virtue of a largely preponderating holding therein,
Broadway, New York, all the Union Pacific Railway
The purchase of the Oregon Short Line does not affect the
Sastern Division first mortgage bonds of 1865 and the mapresent position of the Oregon RR. & Navigation Co., whose
ured coupons thereon, as also interest on the bonds from
property, as already stated, is controlled through ownership
Teb. 1, 1898, to April 25. Interest w ill cease at the last
o f a majority of its preferred stock by the Union Pacific, the
iRiuod cidit/6
Great Northern and the Northern Pacific. The preferred
P aym en t o f C o llateral Trust 6s o f 1879, C ertificates o f D e
stock, as will be remembered, controls the company until
Aug. 17, 1906, unless the voting trust, which gives the pre posit.—The Union Trust Company began paying yesterday
ipon surrender of the certificates of deposit for Union Pacific
ferred two-thirds of the board o f directors, is terminated, in
accordance with its terms, at an earlier date. The Short JR. Co. collateral trust 6 per cent bonds the amount of the
irincipal and interest to March 11th, 1898, of the bonds
Line Co. owns $16,281,400 of the $24,000,000 common stock
epresented by such certificates less one-half of one per cent
o f the Navigation Co.
P u rch ase o f Ju lesb u rg B ra n ch —The Julesburg Branch, >f the par amount of the bonds, to be retained for the comextending from La Salle, Col., to Julesburg, 151 miles, it has >ensation and expenses of the Davis Committee.—V. 66, p. 473.
f
622
THE
e p o r ts
a w d
CHRONICLE.
T h e Ch ic a g o R ock I sland & P a c if ic R a il w a y Com pa ny
B o ttttw e u ts .
CHICAGO ROCK ISLAND & PACIFIC
RAILWAY COMPANY.
ABSTRACT OF GENERAL GOLD BOND MORTGAGE,
DATED JAN. 1, 1898, SECURING $1C0,000,000 OF
GOLD BONDS DUE JAN. 1, 1988.
{T o l . l x 'v i .
By
Attest:
.................................................. P resident.
.................................................. Secretary.
FORM OF COUPON.
No.......
¡fe
On the first day o f .................., ........... the Chicago Rook Island" "di
Pacific Railway Company will pay to bearer at its office or agenoy in
the City of New York, N. Y .......................dollars in gold coin without
deduction for taxes, being six months’ interest then due on its General
Mortgage Gold Bond of 1988, No...........
Assistant Treasurer,
PARTIES.
The Chicago Rock Island & Pacific Railway Co. (herein
PROPERTY CONVEYED AS SECURITY.
after called the “ Railway Company” ) party o f the first part,
A ll an d sin g u la r the ra ilw a ys (to g eth er w ith th e fra n c h ise s
and Central Trust Company of New York and George Sher an d other property n ow h eld , or h e re afte r a cq u ired a p
man, of the City of New York (hereinafter called the “ Trus p u rten an t th ereto) n o w ow n ed or leased b y th e R a ilw a y
tees” ), parties of the second part:
C om pan y in the S tates o f Illin o is, Io w a , M issouri, N e b r a s k a ,
PURPOSE OF NEW LOAN.
for the purpose of refunding $62,712,0(0 of
“ existing bonds ” and for the purpose of providing for
the further enlargement, improvement or extension of its
property, the Railway Company, having been duly au
thorized hereto by action of its Board of Directors and by
the concurring vote o f the holders of more than two-thirds
o f its capital stock, now proposes from time to time to issue
its bonds for an aggregate principal sum not exceeding
$100,000,(00, secured by mortgage: and,
W hereas,
DESCRIPTION
OF NEW
BONDS.
K an sa s an d Colorado, and m th e T erritory o f O k lah o m a an d
th e In d ian T erritory, an d described as fo llo w s, to w i t :
FIRST. 3,207*62 MILES OF RAILWAY IN ACTUAL OPERATION.
. ,
¿files.
Main line from Chicago westerly via Rook Island, 111.,)
Council Bluffs, la.,South Omaha, Neb..andBelleville, Kan., I
to Colorado, Springs, Col. [about 1.073 miles.—Ed.]...........I
Including all right under lease dated May 1,1890, with the
Union Paciflo Ry. Co. to use for 999 years the railway
from Council Bluffs, la., to South Omaha, Neb., including
the bridge across the Missouri River at Omaha [7*02 miles
included in foregoing 1,073 miles.—Ed ] ..............................
Including also all right by virtue of a contract dated Feb. 1,281*40
1 5,1888, to the joint and perpetual use of the railway >r '
appurtenances of the Denver & Rio Grande RR. Co oe i
tween Denver and South Pueblo,Col. [about 119 miles—Ed.]
Including also all right under contract dated April 10,1 8 89 , |
to the use for 999 years of the railway and appurtenances I
of the Union Pacific Railway Company between Limon, |
Col., and the Union Depot in the city of Denver [about 89 I
m iles-E d .]................................................................... ..........
J
,
l.
the Directors and stockholders o f the Railway
Company have duly resolved that said bonds shall be called
the “ General Mortgage Gold Bonds of 1988;” shall bear date
Jan. 1, 1898, in the case of coupon bonds, and of the time o f
issue in the case of registered bonds; shall become and be
payable on Jan. 1, 1988, in gold coin o f the United States, of
the present standard of weight and fineness; and shall bear
interest at such rate, not exceeding 5 per centum per an *1. The following eleven branch lines of said main line:
(1) South Englewood, Chicago, 111., to South Chicago....
num, as from time to time the Board of Directors or the
(2) Wilton, Muscatine Co„ la., to M u scatine....................
Executive Committee of the Railway Company may deter
(3) Wilton, Muscatine Co., la., to Lime Kiln, la ..............
(4) Newton, Jasper Co., la., to Monroe.................................
mine, and as shall be designated in said bonds when issued,
(5) Des Moines, la., to Winterset, l a ...................................
payable in like gold coin semi-annually.
(6) Somerset, la., on the last-named branch, to Indianola.
Said bonds shall be issued either as coupon bonds or as
(7) Menlo, Guthrie Co., Ia., to Guthrie Centre...............
registered bonds. The coupon bonds shall be each for the
(8) Atlantic, Cass Co., Ia., to Griswold.............................
(9) Audubon Junction, Cass Co., Ia., to Audubon Co., Ia.
principal sum o f $1,000, and shall give to the holders the
(10) Avooa, Pottawattamie Co , Ia., to Carson..................
right to register the principal thereof, and also the right to
(11) Fairbury, Jefferson Co., Neb., to Nelson, Neb..............
convert the same into fully registered bonds. The regis
Main line, extending from Davenport, Ia., westerly and
tered bonds without coupons shall be each for the principal III.
southwesterly through Altamont, Cameron and Kansas
sum of $1,000 or of $5,000, and may be issued either origin
City, in Missouri; Topeka and Herington, in Kansas; Pond
Creek, Indian Territory, and El Reno, Oklahoma Terri
ally as registered bonds or in exchange for coupon bonds for
tory, to Terral, Indian Territory, where it connects with
an equivalent sum.
W hereas,
7*50
11*9H
6*08
17*00
41*44
6*40
14*84
14*40
25*23
17*93
51*59
the railway of the Chicago Rook Island & Texas Railway
Co., extending to Fort Worth, Texas.........................................
830*65FORM OF GENERAL MORTGAGE GOLD COUPON BOND OF 1988 Inoluding all right under contract dated Dec. 4, A. D. 1879,
to use for twenty-five years from Jan. 1 ,18 8 0, the Hannibal
No...............
$1,000 00.
& St. Joseph RR. between Cameron, Mo., and Kansas City
UNITED STATES OF AMERICA.
[about 54 miles, inoluded in foregoing 831 miles.—E d .]
T h e C h ic a g o R o ck I sland & P a c ific R a il w a y C om pa ny
Including also all right under contract dated March 19,
G e n e r a l M o r tg ag e G old Co upon B ond of 1S88.
1887, to use for 999 years from Sept. 1 ,1 8 8 7 , the Union
Pacific Railway from the Union Depot grounds in Kansas
Interest,. . . . Per Cent Per Annum.City
to Topeka, Kan. [about 67 miles, inoluded in forego
The Chicago Rock Island & Paciflo Railway Company (hereinafter
ing 831 miles.—E d.]
called the “ Railway Company” ), for value received, hereby promises
to pay to the bearer, or, if registered, to the registered holder of this Including also all right in the traffic agreement between the
Railway Company and the Chicago Rock Island & Texas
bond, One Thousand Dollars, in gold coin of the United States of
Ry. Co., bearing date Jan. 2 ,1 8 9 3 , and in and to the bonds
America, of the present standard of weight and fineness, on the first
hereinafter
described of said Chicago Rook Island & Texas
day of January, in the year one thousand nine hundred and eightvRy.
Co. [This last named line, 93 miles in length, is not
eight, at its office or agency in tbe City of New York, and to pay inter
included in the 831 miles here conveyed, being separately
est thereon from the first day of January, A. D. 1898, at the rate of
conveyed by pledge of bonds, as below stated.—E d .]
. . . . per cent per annum, payable in like gold coin, semi-annually on
the first day of January and of July in each year, at said office’ or
V. The following eight branches of last main line:
agency, but only upon presentation and surrender as they severally
(1) Washington, Washington Co., Iowa, westerly to
mature of the interest coupons hereto annexed.
*
J
Knoxville, Marion Co., Iow a....................................... .
79*0O'
Both the principal and interest of this bond are payable without
(2) Cameron, Clinton Co., Mo., to Leavenworth, Kansas,
deduction for any tax or taxes which the Railway Company may be
including all right, as lessee, for a term of thirty
required to pay or to retain therefrom under any present or future
years, in the bridge and terminal property at Leav
laws of the United States of America, or of any State, countv or m u
enworth, under contract dated March 1 4 ,1 8 92 ,with
nicipality therein.
the Leavenworth Terminal Ry. & Bridge Co. and the
This bond is one of a series of coupon bonds and registered bonds
Kansas City St. Joseph & Council Bluffs RR. Co., and
known as the “ General Mortgage Gold Bonds of 1988,” authorized to
of a certain other contract with the Kansas City St,
be issued to an amount not exceeding in the aggregate the principal
Joseph & Council Bluffs RR. Co. bearing date of Jan.
sum of one hundred million dollars at any one time outstanding all of
2, 1894..................................................................; .............
55*09
which bonds are issued and to be issued under and equally secured bv
(4) Edgerton Junction, Platte Co., Mo., on the last-de
a mortgage and deed of trust dated January 1, A. D. 1898, executed
scribed line to a point on the Missouri River opposite
by the Chicago Rock Island & Pacific Railway Company t o .......
ihe City of Atchison, Kansas..........................................
29*09
a n d ................... of the City of New York, as Trustees, to which mort
(4) Kansas City, Mo., to Armourdale, Kansas.. . . . ".’ "II"
2*40
gage and deed of trust reference is made for a description of the prop
(5) McFarland, Wabaunsee Co., Kan., to a junction at
erties and franchises mortgaged and the nature and extent of the se
Belleville, Republic Co., Kan., with the main line
curity and the rights of ihe holders of said bonds under the same and
first above described....................................
103*98
of the terms and conditions upon which said bonds are issued’ a n d
(6) Herington, Dickinson Co., Kan., to Salina," Kan...........
49*30secured.
(7) Herington, Dickinson Co., Kan., southwesterly
This bond shall not become valid or obligatory for any purpose un
through Buoklin to Liberal, Seward Co., Kau
268*44
less and until it shall have been authenticated by the certificate
(8) Bucklin, Ford Co., Kan., to Dodge C ity........ ................
26*64
hereon endorsed of the Trust Company, one of the Trustees under said
mortgage and deed of trust.
V. Main line extending from Altamont, Daviess Co., Mo
on the main line secondly above described, westerly
This bond shall pass by delivery unless registered in the owner’s
through St. Joseph, Mo., and Elwood and Horton, Kan., to
name on the books of the Railway Company, such registry being noted
a junction at Jansen, Jefferson Co., Nebraska, with the
on the bond by the Railway Company. After such registration no
main line first above described.......................................
198*58transfer shall be valid unless made on the said books by the registered
Including all right under contract bearing date" April 30,
holder in person, or by his attorney duly authorized, and similarly
1897, to use for ten years from May 1 ,1 8 9 7 , the St. Joseph
noted on the bond; but the same may be discharged from registry by
& Grand Island Railway from Sixth Street, in St. Joseph
being in like manner transferred to bearer, after which it shall be
Mo., over the railway bridge across the Missouri River to
transferable by delivery, but this bond may again from time to time
Elwood, Kan. [about one mile included in the 198*58
be registered or transferred to bearer as before. Registration of this
miles.—E d .]
bond, however, shall not affect the negotiability of the coupons, which
shall continue to be transferable by delivery.
The holder hereof, at his option, may surrender for cancellation this VI. The following two branch lines of railroad extending
from points on the main line last above described as fol
bond with all unmatured coupons attached, in exchange for a regis
lows, to w it:
tered bond without coupons as provided in said mortgage and deed of
(1) St. Joseph to Rushville, M o................................................
15*17
trust.
(2) Horton, Kan., southwesterly to Topeka, K anI..IIIIII
49*02
IN WITNESS WHEREOF, The Chicago Rock Island & Pacific Rail
way Company has caused these presents to be signed by its President
V II. A branch from Mt. Zion on the Keokuk & Des Moines
or Vice-President, and its corporate seal to be hereto affixed, and the
RR., hereinafter described, to Keosauqua, Van Buren Co.,
same to be attested by the signature of its Secretary or Assistant Sec
I a . . . . . .........................................................................................
4*50‘
retary, and coupons for said interest with the engraved signature of
its Treasurer or Assistant Treasurer to be hereunto attached, this first
Total of all foregoing main lines and branches [including
day of January, A. D. 1898.
about 336 miles of trackage.—E d .]...................................... 3,207*62
M arch 12, 18S8.]
THE CHRONICLE.
523
■■SECOND ALL INTEREST IN FOUR RAILWAYS, TOGETHER AGGREGATING
364*54 MILES, HKLD UNDER LEASE!
1. Peoria & Bureau Valley RR., extending from Peoria,
northeasterly to Bureau, 111., and held under perpetual
lease thereof, dated April 1 4 ,1 8 5 4 ......................................
2. Des Moines & Fort Dodge RR., extending from Des
Moines, Ta., northwesterly to Ruthven. Palo Alto Co., Ia.,
and held under lease, dated March 3 1,1 8 8 7 , said lease
running until Jan. 1, 1905...........................
■3. Keokuk & Des Moines RR., exteBdingfrom Des Moines,
la ., southeasterly to Keokuk, la., and held under lease,
dated May 1 4,1 8 7 8 , said lease running until Oct. 1,
1925..........
4. Avoca Harlan & Northern RR., extending from Avoca,
Pottawattamie Co., Ia., northerly to Harlan, Shelby Co.,
and under lease, dated Sept. 14,1878, said lease running
until March 1 4 ,1 9 2 8 .................................................
T h i r d .—A l l
cent upon the par value of the existing bonds surrendered
to the Trustee as shall be paid as premium in retiring said
existing bonds. [The total amount of bonds issuable for re
46*70 funding, including the 5 per cent premium,- is therefore not
to exceed $65,847,600.—E d .] The bonds so reserved shall be
delivered for the purpose o f refunding or paying bonds of
143*76 the fo llo w in g /o «r issues, viz.:
162*20
11*88
s t a t io n s , d o c k s , r o l l in g s t o c k , f r a n c h is e s , e t c .
A ll the following property and rights now owned or here"
¿after acquired for use in connection with any o f said railroads:
Road beds, rights of way, station and terminal grounds.
Tracks, bridges, docks, depots, elevators and other structures.
Tools and machinery, coal and other supplies.
Engines, cars and other rolling stock.
Rights, privileges and franchises.
Also all incomes and profits from the property.
EXCEPTION AS TO SECURITIES OWNED.
But, except as may herein otherwise be expressly de
clared, no grant or pledge under this indenture shall be con
strued to include any bonds or any shares o f » capital stock.
F o u r t h .—A l l
p r o p e r t y h e r e a f t e r a s s ig n e d t o t r u s t e e .
E xisting
Miles
bonds,
covered,
1. Chicago & Southwestern Ry. 7 per cent, bonds.
dated Oct. 6 .1 8 6 9 , and due Nov. 1 ,1 8 9 9 ....... $5,005,000
Said bonds being seoured upon the road hereby
conveyed, extending from Washington, Ia.,
to a point on the Missouri River, in Buchan
an County, Mo., opposite Leavenworth, Kan.
^268*00
2. Chic. Rock Island & Pac. RR. 6 per cent bonds,
dated May 1 ,1 8 7 7 , and due July 1 ,1 9 1 7 ......... 12,500,000
Said bonds being seoured upon the following: '
Main line from Chicago, 111,, by way of Rock
Island and Des Moines to Council Bluffs..
1T499*00
South Englewood to South Chicago...............
7*50
Oskaloosa Branch, Wilton Junction, Ia., by
way of Muscatine, Washington, Sigourney
and Oskaloosa, to Knoxville, Marlon Co..
1F91*00
Davenport, Iowa, lo Muscatine. Iowa.........
[¡28*00
17*00
Newton, Jasper Co., Iowa, to Monroe..........
Atlantic, Cass Co., Iowa, to Griswold...........
14*49
Avoca,Pottawatamie Co., Ia.. to Carson...
17*93
Avoca to Harlan, Shelby Co., Iowa...............
UTl‘84
Atlantic to Audubon, Audubon Co., Iow a..
24*54
Menlo, Guthrie Co., Ia., to Guthrie Center.
14*84
3. Chicago Rook Island & Paciflo Ry. Co. exten
sion and collateral bonds of 1884 [called for
payment at 105 on April 3 0 ,1 8 9 8 , V. 66, p.
384.—E d . ] ................................................................ 40,712,000
.........
4. Chicago Rock Island & Paciflo Ry. Co. deben
ture 5 per cent bonds of 1891. [ These bonds
will be paid off Sept. 1 ,18 9 8, at 105]................ 4,500,000
None.
All other property, including stocks, bonds, claims or in
debtedness, which from time to time hereafter may be as
signed to the Trustees,
Provided! , how ever, that at the time of such assignment
the Railway Company, by a writing duly delivered to the
IFOnly approximate; supplied, not in mortgage.
Trustees, may reserve to itself power to dispose o f such prop
JAN. 1, 1903, NOT EXCEEDING $5,500,000 OF 4 PER
erty, and to use all proceeds for any of the purposes for AFTER
CENT BONDS M AY BE ISSUED AT NOT OVER $18,000
which may be used the proceeds o f bonds issued under Sec
PER MILE, TO RETIRE A LIKE AMOUNT OF OUT
STANDING BONDS ON A N Y CONNECTING
tions 2, 3 or 4 of Article One hereof.
RIGHT TO ACQUIRE PROPERTY FREE FROM LIEN HEREOF.
LINE PUCHASED.
Sec. 3. If the Railway Company shall become the
owner o f any connecting railway or railways capable of
operation as part o f its system of railways, bonds for a prin
cipal sum not exceeding the aggregate of the outstanding
bonds secured by any present mortgages of such railway,
and not exceeding the aggregate amount hereinafter
specified, shall be reserved for the purpose of retiring, at or
before maturity, bonds secured by any such present m oitCHICAGO ROCK ISLAND & TEXAS BONDS COVERING 93 MILES.
F i f t h . —The follow ing bonds now deposited with the g a g e ; P ro v id ed that the aggregate amount to be issued
United States Trust Co., as trustee, for the security of the under the provisions o f this section shall not exceed $18,000
first mortgage extension and collateral bonds of 1884: par value thereof for each mile of railway or railways thus
acquired, and shall never exceed the total sum of $5,500,000;
Chicago Rock Island & Texas Ry. Co. first mortgage bonds
and, p rov d e d fu r t h e - , that the bonds to be delivered under
of 1883 secured by mortgage to the Merchants’ Loan *
this section shall not bear interest at a higher rate than 4
Trust Co of Chicago, as Trustee, being all of the bonds of
said company now issued and outstanding [these bonds
per cent per annum; and in no event shall be delivered prior
cover the 93 miles from Terral to Fort Woith, Tex.—E d.].$1,365,000
to Jan. 1, 1903.
Upon satisfaction o f the first mortgage extension and
REFUNDING OF EXISTING BONDS.
collateral, the Railway Company will deliver to the Trustees
Sec. 4. To facilitate the refunding o f the existing
such instruments as the Trustees may reasonably require
bonds the Trustee, upon request of the Railway Company by
for the purpose of assigning to them the aforesaid bonds.
ENTIRE CAPITAL STOCK OF THE WISCONSIN MINNESOTA & PACIFIC RR. resolution of its Board o f Directors or Executive Committee,
shall deliver to the Railway Company bonds issued under
CO., OWNING 217 MILES UNBONDED.
S i x t h .— The entire capital stock of the W isconsin Minne this mortgage for the aggregate principal sum of $500,000.
Thereafter, as often as the Railway Company shall sur
sota & Pacific RR. Co., viz., $5,205,000, the same to be de
livered to the Trustees hereunder. [The W . M. & P. extends render any o f the existing bonds, the Trustee, in exchange
from Red W ing, Minn., to Mankato, Minn., 94 miles, and therefor, shall deliver to the Railway Company bonds issued
from Morton to Watertown Junction, 123 miles, in all 217 under this mortgage for an aggregate principal sum equal
to the par amount o f the bonds so surrendered and for such
miles, and is unbonded.—Ed.]
The Railway Company shall have the right to vote such further sum, not exceeding, however, 5 per cent upon the
stock, but not to authorize an increase o f the capital stock par value of the bonds so surrendered, as shall have been
or the creation of any indebtedness or any mortgage upon paid by the Railway Company as premium in retiring, re
the Wisconsin Minnesota & Pacific RR. The Railway Com deeming or refunding any o f said existing bonds, and this
pany shall have the right to sell the stock on such terms as process may continue from time to time until the amount of
it shall deem proper, p ro v id ed that the proceeds, except so existing bonds specified in said Section 2 shall be reduced to
much as the parties hereto shall agree to be the b on a Jid e $500,000, when no further amount of bonds shall be certified
value o f the land-grant of said Wisconsin Company, shall and delivered for the purposes specified in said Section 2. *
forthw ith be invested in betterments, extensions or im $2,000,000 BONDS IS UJ ABLE AT OPTION OF R A ILW AY COM
PANY FOR IMPROVEMENTS, ADDITIONS OR EXTENSIONS.
provements of the mortgaged premises or in the purchase
o f equipment. The Wisconsin Minnesota & Pacific RR. also
Reserving at all times such amount o f the bonds as at
may be leased or sold, but the proceeds of sale, aside from their face value shall be sufficient to provide for the issues
the value of the land-grant, shall be applied in the manner thereof authorized in Sections 2 and 3 o f this Article (less
provided in case of the sale of the capital stock, and the lease the said $500,000), the said Trustee from time to time shall
shall be assigned to the Trustees hereunder.
deliver to the Railway Company, out o f the residue o f the
ALL THE NEW BONDS TO BE EQUALLY SECURED.
total authorized issue hereunder, bonds for an aggregate prin
To have and to hold in trust for the equal and proportion- cipal sum not exceeding $2,000,000 on receipt of an attested
.ate benefit and security o f all present and future holders of copy of a resolution o f the Board of Directors or the Execu
the bonds and interest obligations issued and to be issued tive Committee of the Railway Company, requesting such
under and secured by this indenture, without preference, delivery. This $2,000,000 of bonds shall be applied only to
priority or distinction as to lien or otherwise o f any one the betterment or increase o f the mortgaged premises,
bond over any other bond by reason of priority in the issue whether by improvement, enlargement or extension, or by
the acquisition o f new property of any kind, to be subject
or negotiation thereof.
to this mortgage, as a first lien thereon.
REMAINING BONDS ISSUABLE AT NOT EXCEEDING $1,000,000
ARTICLE ONE.
YE A R L Y P O R PERMANE N T IMPROVEMENTS AND AD
And P ro v id ed , further, that nothing shall limit the right
o f the Railway Company, hereby expressly reserved, to own
o r in any manner, except by the use o f bonds secured by
this indenture, to construct or to acquire other lines o f rail
way or equipment or new terminals, and to dispose of any
line or property so acquired free from the lien o f this in
denture.
ISSUE AND APPROPRIATION OF BONDS—LOAN LIMITED TO
$ 100,00 0,00 0.
S e c t io n 1. The aggregate amount o f bonds issued and
outstanding under this indenture shall never at any one
time exceed t]ie principal sum of $100,000,000.
BONDS FOR NOT EXCEEDING $65,847,600 TO BE RESERVED TO
RETIRE EXISTING BONDS.
Sec. 2. Of the authorized issue there shall be re
served bonds for the aggregate principal sum o f $62,712,000,
and for such further sum, not exceeding, however, 5 per
DITIONS, INCLUDING EQUIPMENT.
Of the total amount of bonds to be secured by this Trust
Deed, apart from the amount hereinbefore reserved for the
purpose of retiring existing bonds, and apart from the
amount of $2,000,000 under this article to be delivered to the
Railway Company, the said Trustee, from time to time,
shall deliver to the Railway Company such amount of
bonds, not exceeding $1,000,000 par value thereof in any
one calendar year, as an attested copy o f a resolution of the
Board of Directors or o f the Executive Committee of the
521
THE CHRONICLE,
[V o l .
l x v î.
Company shall call for, but only on a certificate o f the cessive registrations and transfers as aforesaid may be made
President and the Chief Engineer of said Company, showing from time to time as desired ; and each registration shall be
that an amount of money equal to the amount of bonds so noted by the Railway Company on the bond.
A ny registered bond without coupons may be transferred
called for has been expended in the permanent improve
ment or extension of or in additions to the property, in on the books o f the Railway Company by the registered
holder thereof in person or by his duly authorized attorney
cluding equipment, subject to the lien of this indenture.
as provided in Section 8 of Article One hereof.
EXISTING BONDS RECEIVED BY TRUSTEE—WHEN
CANCELED.
TO BE
Sec. 5. Every existing bond received by the Trustee shall be
stamped with the words “ Not Negotiable. Held in trust for
“ the purposes declared in the General Gold Bond Mortgage
“ of the Chicago Rock Island & Pacific Railway Company.
“ dated January 1, 1898,” and shall be held by the Trustees
without extinguishment of lien as additional security for
the payment of the bonds hereby secured until not less than
97 per cent of the issue to which such existing bond belongs
either shall have been paid and canceled, or shall have been
received hereunder by the Trustees, whereupon, on the
written request of the Railway Company, the Trustees shall
cancel all outstanding existing bonds of such ifesue then in
their possession.
Sec. 7. From time to time the Railway Company shall
take all practicable measures to procure the discharge of all
the mortgages securing any such outstanding existing bonds
which shall have been paid.
PRINCIPAL AND INTEREST OF EXISTING BONDS
PROMPTLY PAID W HEN DUE.
TO BE
Sec. 4. Exclusively for the benefit o f the holders of
bonds issued hereunder, the Railway Company will pay, or
will acquire and deposit with the Trustees, on or before
their respective dates of maturity, or as soon as presented
for payment, all o f the outstanding existing bonds secured
by prior lien on any of the premises hereby mortgaged; and
will provide for the payment of the interest on all such out
standing existing bonds and obligations having .prior lien,
not acquired and deposited hereunder, as and when such in
terest shall become due and payable ; and it will not extend
any o f such existing bonds having liens superior to this in
denture,
NO PRIOR LIENS E XIST EXCEPT THOSE ENUMERATED: NO
OTHERS TO BE PERMITTED.
Sec. 5. The Railway Company covenants that, with the
exception in this section specified, the premises hereby con
veyed are subject to no mortgage or trust deed except those
REGISTERED BONDS WITHOUT COUPONS.
securing the outstanding obligations hereinbefore men
Sec. 8. Whenever any coupon bond issued under this tioned,
and that it will not create any lien or charge having
indenture, together with all unmatured coupons thereto be
priority to the lien of these presents upon the mortgaged
longing, shall be surrendered for exchange for registered premises
; and, within six months after the same shall ac
bonds, the Railway Company shall issue therefor a like
amount of registered bonds without coupons. Such regis crue, it will pay all lawful claims of laborers and others,
if unpaid, might by law be given precedence to this
tered bonds shall be for $1,000 or $5,000 each, and shall bear which,
indenture as a lien upon the mortgaged premises.
interest at the same rate as the surrendered coupon bonds.
The following first mortgage bonds cover a portion of the
Whenever any registered bond shall be surrendered for
transfer, the Railway Company shall issue a like amount of road described by the conveyance clause of this mortgage.
new registered bonds for $1,000 or for $5,000 each; but no They are all, however, pledged as part security for the Ex
tension and Collateral Mortgage of 1884, and on discharge
registered bond shall be converted into a coupon bond.
o f that mortgage will either be canceled or pledged with
For any exchange of coupon bonds for registered bonds,
and for any transfer of registered bonds, without coupons, the Trustee hereunder. W ith the bonds in the latter case
will also be pledged the entire capital stock as below :
the Railway Company, at its option, may make a charge not
Isi M. Bonds.
Stock.
exceeding one dollar for each new registered bond issued St. Joseph & Iowa R R .- Altamont to St.
upon such exchange or transfer.
Joseph. Mo...........................................................$1,280,000
$ 615,000
BONDS MUTILATED OR DESTROYED M AY BE REPLACED.
Sec. 9. In case any bond issued hereunder shall become
mutilated or shall be destroyed, upon the surrender of any
such mutilated bond to the Trustee, or upon filing with the
Trustee satisfactory evidence of such destruction, the Rail
way Company upon receiving indemnity satisfactory to it
may in its discretion isSue a new bond bearing the same
serial number.
ARTICLE
TWO.
PARTICULAR COVENANTS OF THE R A ILW AY COMPANY.
PRINCIPAL AND INTEREST TO BE PAID PUNCTUALLY
T A X FREE.
Section 1. The Railway Company will punctually pay the
principal and interest of every bond issued hereunder in the
manner promised, according to the true intent and meaning
thereof, without deductions from either principal or interest
for any tax or taxes imposed by the United States or by any
State of County or Municipality thereof, which the Railway
Company may be required to pay or to retain therefrom un
der or by reason o f any present or future law; and the Rail
way Company will pay all such taxes. W hen and as paid,
all coupons shall be canceled.
Kansas City & Topeka Ry.—Kansas City,Mo.,
to Armourdale, Kan., with terminals, etc.. 1,200,000
2,000,000
Sec. 6. The Railway Company from time to time will pay
all taxes, assessments and governmental charges lawfully
imposed upon the premises hereby mortgaged, the lien o f
which would be prior to the lien hereof, so that the priority
of this indenture shall be fully preserved.
COMPANY TO PERFORM ALL ITS OBLIGATIONS.
Sec. 7. The Railway Company from time to time w ill
punctually perform all of its obligations, and will discharge
all amounts payable under any lease of property subject to
the lien of this mortgage, and will also punctually observe
all of its obligations as provided in the aforesaid trackage
and traffic contracts or modifications thereof.
BONDS TO BE APPLIED AS HEREIN PROVIDED.
Sec. 8. The Railway Company w ill not dispose o f any
bonds hereby secured in any manner other than in accord
ance with the provisions of this indenture; and it will ap
ply the proceeds thereof to purposes herein prescribed, and
to no other or different purpose.
ARTICLE THREE.
COUPONS NOT TO BE PURCHASED OR EXTENDED.
DEEDS OF FURTHER ASSURANCE.
Section 1. The Railway Company covenants that it will
Sec. 2. Whenever required by the Trustees, the Railway not, directly or indirectly, assent to the extension of the
Company will transfer unto the Trustees title to all real and time for payment of any interest upon any bonds secured
personal estate, corporate rights and franchises which it shall hereby, and that it will not, directly or indirectly, be a
acquire as appurtenant to, or for the use of, the several rail party to any arrangement for purchasing or funding
roads hereby mortgaged; and also it will acknowledge and said interest. Interest extended with the consent of the
deliver all such further transfers and assurances for the Railway Company shall not be entitled to the security of
better confirming unto the Trustees the premises hereby this indenture, except subject to the prior payment in full
conveyed, as reasonably they shall require for the better of the principal of all bonds issued, and o f all interest not
so extended; the intention o f this agreement being to pre
securing of the bonds issued hereunder.
vent any accumulation after maturity of coupons or claims
RIGHT RESERVED TO CONSTRUCT OR ACQUIRE PROPERTY
for interest upon registered bonds.
FREE FROM LIEN HEREOF.
MONTHS THE TRUSTEES M AYTAKE
But nothing in this indenture expressed or implied is in ON DEFAULT FOR SIX POSSESSION.
tended, or shall be construed, to limit the right or power of
Sec.
2.
In
case
(.1)
of
default
for six months in the pay
the Railway Company, hereby expressly reserved, to con
struct or to acquire, and to own and hold, other lines of ment of interest on any bond Secured by this indenture, or
railway, or branches or extensions, or interests therein, or in the performance o f any o f the covenants contained in
Section 5 of Article Two hereof; or in case (2) of default in
other property free from the lien hereof.
the punctual payment of the principal of any bond hereby
OFFICE FOR REGISTRATION AND TRANSFER TO BE
secured; or (3) of default in the performance of any other
MAINTAINED IN NEW YORK CITY.
covenant herein for a period o f six months after written
Sec. 3. The Railway Company agrees to maintain an office notice thereof from the Trustees or from the holders of 5
or agency in New Y ork City for the •registration of cou per cent in amount of the bonds hereby secured; then the
pon bonds in accordance with the terms o f the bond, which Trustees may enter upon all the railways and premises
hereby conveyed, and operate the same by their receivers,
see above.
Upon presentation o f any registered coupon bond by the agents or attorneys, to the best advantage of the holders of
registered holder, or by his duly appointed attorney, such the bonds hereby secured.
A fter deducting the expense o f operating and o f all re
bond shall be transferred and entered upon the books of the
Railway Company, or the same may be transferred and reg pairs, additions, betterments and improvements, and all
istered to bearer, in which case transferability by delivery taxes, assessments, insurance and prior or other proper
shall be restored and thereafter the principal of such bond charges, the Trustees shall apply the moneys arising as afore
shall be payable to any person presenting the same. Suc said as follows :
M arch 12, 1898. J
525
THE CHRONICLE.
F irst. In ease the bonds hereby secured shall not have become due,
to the payment ratably to the persons entitled thereto of the interest
in default in the order of its maturity, with interest on the overdue
instalments.
„ i „,
,
Second. In case the bonds hereby secured shall have become due, by
declaration or otherwise, first, to the payment of the uccrued interest
(with interest on the overdue instalments thereof) in the order of its
maturity; and next, if any surplus remain, towards the payment of
the principal of all bonds hereby secured.
UPON S IX MONTHS’ DEFAULT, HOLDERS OF A MAJORITY IN
AMOUNT OF THE BONDS MAY REQUIRE THE TRUS
TEES TO DECLARE THE PRINCIPAL DUE.
Sec. 3. In case of default for six months in the payment of
any interest on any bond hereby secured, or in the perform
ance of any of the covenants contained in Section 5 of A rti
cle Two hereof, then upon the written request o f the holders
o f a m ajority in amount of the bonds hereby secured then
outstanding, the Trustees, by notice in writing delivered to
the Railway Company, shall declare the principal o f all
bonds hereby secured then outstanding to be due and pay
able immediately.
But if at any time thereafter all arrears of interest, with
interest thereon, shall be paid before sale o f the mortgaged
premises, then the holders of a majority in the amount of
the bonds may waive such default and its consequences.
SELL PROPERTY OR BRING
FORECLOSURE OR OTHER SUITS.
o f the Railway Company, this mortgage and the obligations
hereby secured being solely corporate obligations.
Article Five contains provisions respecting bondholders*
instruments, etc.
ARTICLE SIX.
RELEASES
OF MORTGAGED
PROPERTY.
Upon the written request of the Railway Company, ap
proved by resolution o f its Board of Directors or Executive
Committee, the Trustees may, from time to time, release
from the lien of this indenture any part o f the mortgaged
premises; p ro v id ed the same shall no longer be o f use, and
that no part of the track shall be released if thereby the
continuity of the railroads hereby mortgaged shall be broken.
No property, also, shall be released unless to be sold or ex
changed for other property. The proceeds o f sale shall be
applied to the purchase of other property or in improve
ments upon the mortgaged premises. A ll new property ac
quired in place o f property released shall be held for further
security hereunder.
ARTICLE SEVEN.
D E F A U L T — TRUSTEES M AY
Sec. 4. In case of default made and continued as pro
vided in Section 1 of this article, the trustees, with or with
out entry, in their discretion (a) may sell to the highest and
best bidder all and singular the mortgaged property and
premises, in one lot and as an entirety, unless a sale in par
cels shall be required under the provisions of Section 6 of
this article, or (b) may proceed to enforce the rights of
bondholders by foreclosure or other suits, as the Trustees,
being advised by counsel learned in the law, shall deem
most effectual.
TRUSTEES MUST ACT W HEN REQUESTED BY HOLDERS OF
25 PER CENT IN AMOUNT OF BONDS.
Upon the written request of the holders o f 25 per cent in
amount of the bonds hereby secured, in case of any such
continuing default, it shall be the duty of the Trustees, upon
being indemnified, to take all needful steps for the enforce
ment of the rights of the holders o f the bonds hereby
secured by suit or otherwise as the Trustees shall deem most
expedient in the interest of the bondholders.
HOLDERS OF 65 PER CENT IN AMOUNT OF BONDS
DIRECT AND CONTROL PROCEEDINGS.
M AY
Sec. 5. The holders of 65 per cent in amount o f the bonds
hereby secured, and then outstanding, shall have the right,
if they so elect by an instrument in writing delivered to the
Trustees, to direct, control or discontinue any and all pro
ceedings for any sale o f the premises hereby conveyed, or
for the foreclosure o f this indenture, or for the appointment
o f a receiver, or any other proceedings hereunder.
D E FAU LT-VA R IO U S PROVISIONS.
Sections 6 to 17, Etc. The mortgage contains the usual
carefully-drawn provisions defining the further rights of the
Trustee and the bondholders in case of default, some, of
these provisions being as follows:
Property to fie sold in one parcel, unless otherwise requested by
holders of a majority of the bonus.
Notice of sale to be advertised for four weeks.
On sale of mortgaged premises principal, at the option of the Trus
tees, to be due and payable.
Proceeds of sale, after payment of expenses, to be applied to pay
ment of principal and interest ratably without preference of one over
the other.
Purchaser may apply bonds and coupons due and unpaid on pur
chase price.
r
Trustee may recover judgment for amount due on principalandinThe benefit of all valuation, stay, extension or redemption laws are
waived by the Railway Company.
Upon commencement of judicial proceedings a receiver may be ap
pointed for benefit of bondholders.
The remedies herein are additional to all other remedies existing at
law, except as herein expres-ly provided to contrary.
OBLIGATION OF TRUSTEE8.
Section 1. The Trustees shall not be under any obligation
to take any action toward the enforcement o f the trusts
hereby created, unless indemnified against all expense or
liability, nor to take notice o f any default hereunder unless
requested by a writing signed by the holders of 25 per cent
in amount o f the bonds hereby secured then outstanding,
and tendered reasonable indemnity as aforesaid ; but neither
any such request nor this provision therefor shall affect any
discretion herein elsewhere specially given to the Trustees
to determine whether or not they shall take action.
REMOVAL OF TRUSTEES.
Sec. 2. Any Trustee may be removed at any time by an
instrument in writing under the hands of three-quarters in
amount of the holders of the bonds hereby secured and then
outstanding. Any Trustee other than a Trust Company,
Trustee, may be removed at any time by an instrument in
writing executed upon the part of the Railway Company by
order of its Board of Directors or of its Executive Commit
tee, and by notice thereof to the Trust Company, Trustee.
APPOINTMENT OF NEW TRUSTEES.
Sec. 3. In case any Trustee hereafter appointed shall
resign or be removed or otherwise become incapable of act
ing, a successor or successors may be appointed by the
holders o f a majoritv in amount of the bonds hereby secured
then outstanding by instruments ’ in writing; p rov id ed ,
nevertheless, that the Railway Company by an instrument
executed by order o f its Board o f Directors or Executive
Committee may appoint a Trustee to fill such vacancy un
til a new Trustee shall be appointed by the bondholders as
herein authorized. The Railway Company shall publish no
tice of such appointment once a week for six successive
weeks in New York and Chicago, and any new Trustee so
appointed by the Railway Company shall immediately be
superseded by a Trustee appointed in the manner above pro
vided by the holders of a m ajority in amount of the bonds
hereby secured prior to the expiration of six months after
such publication of notice.
One of the Trustees hereunder shall always be a Trust
Company in good standing, doing business in the City of
New York, and having a capital and surplus aggregating at
least $2,000,000, if there be such a Trust Company willing
and able to accept the trust upon reasonable terms.
ARTICLE EIGHT.
RAILW AY COMPANY’S POSSESSION TILL DEFAULT.
This article is merely formal, relating to the company’s
right to retain the property until default, and to the termin
The Railway Company, whenever it shall deem it expe ation o f the Trust upon the faithful performance of all the
dient for the better security o f the bonds, although there covenants herein.
may be then no default entitling the Trustee to possession,
may, with the consent of the Trustee, surrender to the Trus
ARTICLE NINE.
tee the whole or any part of the property hereby conveyed
A COMPANY ABSORBING THE RAILW AY COMPANY MAY
for any period.fixed or indefinite.
ISSUE BONDS HEREUNDER.
REQUEST OF A MAJOKITY IM AMOUNT OP THE B^NDS NECES
SARY TO REQUIRE ACTION HEREUNDER.
Nothing contained in this indenture shall prevent any
consolidation, merger or sale of the mortgaged premises
as an entirety; provided, however, that such consolida
tion, merger or sale shall not impair the lien and security
o f this indenture, and that the payment of the principal and
interest of all said bonds according to their tenor shall be
assumed by the corporation formed by such consolidation
or merger, or purchase as aforesaid.
The successor corporation as aforesaid, upon executing,
and causing to be recorded, an indenture with the Trustees
satisfactory to the Trustees, whereby it shall assume the due
and punctual payment o f the principal and interest of said
bonds and the performance of all the covenants and condi
tions of this indenture, shall be substituted for the Railway
ARTICLES FOUR AND FIVE.
Company and may issue either in its own name or in the
IMMUNITY OF OFFICERS, E TC—BONDHOLDERS’ INSTRU ram e of the Chicago & Rock Island Railway Company, any
or all of such bonds not theretofore issued, but all such ad
MENTS.
Article Four provides that no recourse hereunder shall be ditional issues shall be made subject to all the restrictions
had against any incorporator, stockholder, officer or director of this indenture.
Sec. 18. No holder of any bond or coupon shall have the
right to institute any action in equity or at law for the fore
closure of this indenture or for the appointment of a re
ceiver or for any other remedy hereunder unless the holders
of 25 per cent in amount of the then outstanding bonds shall
have made written request of the Trustee, and shall have
afforded it reasonable opportunity to exercise the powers
hereinbefore granted ; it being Intended that no holders of
bonds or coupons shall enforce any right hereunder except
in the manner herein provided and for the equal benefit of
all outstanding bonds and coupons.
626
THE
CHRONICLE.
[V ol.
L X VI,
10. It is worthy of remark that the maximum gradients
on the Crow’s Nest line through the Rocky and Selkirk
ranges o f mountains are only 1 foot in 100 (with compensa
SEVENTEENTH ANNUAL REPORT—FOR THE YEA R tion for curvature), or barely half the maximum of any
other railway crossing either o f these ranges.
ENDED DECEMBER 31ST, 1897.
11. This much-needed Canadian outlet for the Kootenay
mining district afforded by the Crow’s Nest Railway will
give a decided impetus to mining and smelting, and is cer
To the S h a r e h o ld e r s :
A balance sheet o f the affairs of the Company at 31st De tain to add largely to the earnings of the Company ; but
cember, 1897, together with the usual statements and sched that the fullest advantage may be derived from it, and that
the interests o f your Company may he protected in South
ules, are herewith submitted.
ern British Columbia, it is necessary to move on westward
The gross earnings for the year were.................................$24,049,534 65
The working expenses were.................................................. 13,745,758 76 from the Columbia River at Robson, the western end of
your line, so as to reach the Boundary Creek District—about
And the net earnings were..................................................... $10,303,775 89 103 miles—during the present year, and your authority in
this regard will be asked. The opening o f mines in the
A d d interest earned on deposits and loans.. $74,001 48
Boundary Creek District has been retarded by the lack of
A d d interest due from Duluth
South Shore & Atlantic Ry.
transportation facilities, but the mineral deposits have been
Co. on Consolidated bonds
proven to an extent sufficient to justify the belief that this
held by your Company
is the richest district yet discovered in the Province.
against Debenture Stock is
sued ........................................ $601,390 00
12. As a preliminary step towards the construction of the
Less advanced by your Com
Crow’s Nest line, the Shareholders at their meeting on the
pany......................................... 442,065 00
10th May, 1893, authorized the purchase of the section of
-------------------$159,325 00
A dd interest from Minneap
the Alberta Railway, between Dunmore, on your main line,
olis St. Paul & Sault Ste.
and Lethbridge—109 miles—for $976,590. This purchase was
Marie Ry. Co. on bonds held
consummated early in January of the present year.
by your Company against
13. The section of the Crow's Nest line west o f the sum
Debenture Stock issued.......
$107,380 00
mit of the Rocky Mountains is being constructed under the
-------------------$340,706 48
charter of the British Columbia Southern Railway Com
^ ,
$10,644,482 37 pany, the acquisition o f which, for an almost nominal con
D educt Fixed Charges accrued during the year, includ
sideration, you will be asked to approve. The work is being
ing interest on Land Bonds (see page 5 2 7 )...................
6,783,367 26 carried on by the officers o f your Company and on its com
pletion the railway will become the property o f your Com
The surplus for the year was. ...................................... $3,861,115 11 pany at the actuai cost of construction.
From this there has been charged off the
14. Through the British Columbia Southern Railway your
half-yearly divide’d on Preference Stock:
Company acquires about 3,350,000 acres o f land granted to
2 per cent paid 1st October, 1897___ $167,413 33
And half-yearly dividend on Ordinary
that Company by the Province of British Columbia, and also
Stock:
acquires six square miles of valuable coal lands near the
l 1« per cent paid 1st October, 1 89 7 ...
975,000 00
Crow’s Nest Pass—an amount of coal lands quite sufficient
---------------------- 1,142,413 33
for the pretection of the public as well as the Company, if
need be, against unduly high prices. The lands first men
Leaving balance............ .................................................. $2,718,701 78
tioned are all adjacent to the railway as it is laid out be
From this there has been declared a halfyearly dividend on Preference Stock of
tween the Crow’s Nest Pass and Kootenay Lake. They have
2 per cent payable 1st April, 1898......... $196,613 33
not as yet been examined in detail, but will no doubt prove
And a dividend on Common Stock for the
a valuable asset. The lands are not taxable until leased or
last half year of 2 1a per cent payable
alienated.
1st April, 1898.............................................. 1,625,000 CO
15. The coal deposits made accessible by the Crow’s Nest
2. The working expenses for the year amounted to 57-16 Railway are of great extent and extraordinary character.
per cent of the gross earnings, and the net earnings to 42*84 The aggregate thickness of the beds in the immediate vicin
per cent, as compared with 60 80 and 39-20 per cent, re ity o f the railway exceeds 125 feet, and the coals are of ex
cellent quality and make superior coke, the latter being of
spectively, in 1896.
3. The earnings per« passenger per mile were 1-82 cents especial consequence as affecting the smelting of ores; and
in
this connection it is worthy o f remark that the mining
and per ton of freight per mile 0-78 cents, as against 1*83,
districts o f southern British Columbia are exceptionally for
and 0-75 cents, respectively, in 1896.
4. Following is a statement of the results o f working by tunate in possessing an abundance o f coal, a boundless sup
ply o f timber, numerous water-powers, a healthy climate
months :
Month.
E arn ings.
jExpenses.
Net Earnings. and, close at hand, agricultural districts affording cheap
January...
$1,312,924 09
$939,580 99
$373,343 10 and plentiful food.
February..
1,272,094 42
887,271 34
384,823 08
16. Arrangements have been completed, subject to the
Maroh___
1,528,944 61
1,008,731 77
520,212 84 approval of the Dominion Parliament, whereby your Com
A p ril_____
1,617,859 14
990,741 80
627,117 34
May...........
1,980,295 12
1,104,725 28
875,569 84 pany may acquire the Columbia & Western Railway ex
-June...........
2,000,576 58
1,114,449 28
886,127 30 tending from Robson to Rossland (33 miles) for the sum
July...........
2,107,002 22
1,192,643 35
914,358 87 o f $800,000. W ith this property w ill be acquired the smelt
August___
2,232,114 98
1,227,707 87
1,004,407 11
September
2,344,529 07
1,284,638 03
1,059,891 04 ing works at Trail Creek, and about 270,000' acres of land in
October....
2,790,001 37
1,375,263 09
1,414,738 28 the vicinity, these being included in the purchase price
November
2,540,450 61
1,350,718 01
1,189,732 60 named.
December
. 2,322,742 44
1,269,287 95
1,053,454 49
17. Rossland having become the principal mining centre
5.
Notwithstanding the unfavorable results o f the firstin British Columbia, it was necessary either to build an in
three months of the year the Directors are able to report a dependent line to that place or acquire the Columbia and
substantial increase in the earnings and profits o f the Com Western Railway, and the latter was clearly the wiser
pany.
course.
6. The improvement in the traffic of the Company is due
18. Your authority for the acquisition o f this property wiil
in large measure to the mining development in British be asked, and you will be asked to approve the construction
C olum bia; the mining development in the Lake-of-the of a line 32 miles in length, connecting the Columbia and
W oods district also contributed in no small degree.
Kootenay Railway with Slocan Lake, which was demanded
7. The discovery o f extraordinary deposits o f gold in the by the Slocan mining district and which your Directors
Canadian Yukon territory has contributed appreciably to felt obliged to carry out last yeai;, anticipating your
the general improvement, and is likely to contribute vastly authority.
more in the immediate future, for the movement in that
19. You will be asked to approve a lease o f the St. Stephen
direction can hardly be said to have commenced until within & Milltown Railway 4 6-10 miles in length at a rental of
the past few weeks.
$2,050 per annum. This line affords access to a number of
8. Under the authority given by the shareholders at the saw mills and manufactories in the vicinity o f St. Stephen,
last meeting, the Directors entered into an arrangement New Brunswick.
w ith the Dominion Government providing for the imme
20. The Montreal & Ottawa Railway is now practically
diate construction o f a railway from Lethbridge, Alberta, completed to the city limits o f Ottawa, and is expected to
through the Crow’s Nest Pass, to a connection with your line be in readiness for traffic at the beginning o f the coming
at Nelson, British Columbia, a distance of 340 miles. This summer.
line has been completed to within 12 miles of the Crow’s
21. The results of the purchase of the Columbia & Koote
Nest Pass, at the summit of the Rocky Mountains, and the nay steamers, as authorized by the shareholders a year ago,
work beyond is well advanced. It is expected that the line have been mpst gratifying. Additions have already been
w ill be completed to Kootenay Lake before the end o f made to this flee and more boats are required.
August. On reaching Kootenay Lake a temporary connec
22. The Directors have anticipated your authority in pur
tion will be made with Nelson by means of a train ferry chasing tw o ocean steamships for the new trade of the
whereby a through train service may be established, pend Canadian Yukon (Klondike) district. These steamships are
ing the com i letion of the railway along the shore o f the intended to ply from Vancouver and Victoria, and are far
lake to that point sixty miles distant.
superior to any now engaged in the trade and should secure
9. The Dominion Government has entered into an agree to your Company a large share o f it. Your Directors have
ment with the Company to assist the undertaking to the also caused to be put under contract eleven steamboats,
extent o f $11,000 per mile, and the balance required will costing approximately $350,000, for the lakes and rivers in
form part of your capital expenditure. This agreement will the Southern British Columbia mining districts, and for
be submitted for your confirmation.
river service in the Canadian Yukon trade.
CANADIAN PACIFIC RAILWAY COMPANY.
M aech 12, 1898.]
THE CHROM CI LE.
23. Your railway has been maintained in excellent condi
tion and has enjoyed its usual immunity from serious acci
dent.
24. Two hundred and forty-seven miles of the principal
hues of the Company were relaid with heavy rails (70 and
80 pounds per yard) during the year.
25. The sudden increase o f traffic, subsequent to the last
Annual Meeting, made necessary considerable expenditures
on Capital Account for rolling stock, grain elevators and for
terminal and station facilities, mining spurs, sidings and
spurs for new industries, etc., which were not anticipated at
that time, and the Directors will ask your approval of these
expenditures. They w ill also ask you to authorize them to
make liberal provision ior rolling stock, improvements of
roadway, additional repair shops and various other matters,
in order that your railway may be well prepared for the
large traffic ahead, which now seems assured.
26. The rapid increase of traffic on the line between Mon
treal and Toronto makes it necessary to take steps towards
the double-tracking of that section of the Company’s line,
the traffic having now practically reached the limit of the
capacity of a single-track line. Your authority to proceed
with this work as it may be conveniently and economically
done will be asked.
27. Schedules ‘ “E,” “ F ” and “ G” appended to this report
show in detail the expenditures on Capital Account.
28. Two hundred and fifteen timber bridges aggregating
5‘7 miles were replaced with permanent w ork —masonry,
steel or embankments—during the year.
29. A Grain Elevator of 1,000,000 bushels capacity was
erected at Owen Sound and another, built of steel and
having a capacity of 1,500,000 bushels, at Fort William.
30. Since the close o f the year your Company’s shares in
the Pacific Postal Telegraph-Cable Company have been sold
for an equal amount in the bonds o f the Commercial Cable
Company, and your Directors propose, w ith your approval,
to expend a considerable part of the proceeds of this sale in
the extension and perfection o f the Company’s telegraph
system in Canada - extensions and improvements which will
add to your already handsome profits from this source. In
connection with this sale your interests have been secured
by a contract for the interchange of business with the same
telegraph system for a term o f 20 years.
31. Your Company has acquired the individual holdings
of shares in the Chateau Frontenac Company, amounting
to $80,000, and now holds all of the stock representing this
hotel at Quebec—a property which is not alone profitable in
itself, but brings a large amount o f passenger traffic to the
railway.
32. The Company’s telegraph, express, grain elevators,
sleeping cars and lake steamers all afforded increased net
earnings and these, with the profits from the Pacific Steam
ships, exceeded the in terest on the w hole o f the C on solidated
D ebenture k to c k o f the C om pany.
33. Your Company had nothing to pay on its guaranty in
respect of the Minneapolis St. Paul & Sault Ste. Marie Bailway, but the improved conditions in the Western States did
not begin to be felt by the Duluth South Shore & Atlantic
Railway until late in the year, and the deficit o f that Com
pany was $442,065, as already stated.
34. During the year $151.000 o f the 4 percent Consolidated
Mortgage Bonds of the Minneapolis St. Paul & Sault Ste.
Marie Railway, $131,000 o f the 4 per cent Consolidated Mort
gage of the Duluth, South Shore & Atlantic Railway, and
$518,750 of the 5 per cent First Mortgage Bonds of the Mon
treal & Ottawa Railway—all guaranteed by your Company
—were purchased with the proceeds of £145,875 four per
cent Consolidated Debenture Stock, a considerable saving
in interest being thereby effected.
35. During the year your Directors contracted for the sale
of one million pounds four per cent Preference Stock to ap
ply on Capital expenditures already authorized, including a
portion of the Crow's Nest Railway construction, and the
portion of the proceeds received before the end o f the year
was so applied.
36. Arrangements permanently assuring the traffic inter
ests of the Duluth South Shore & Atlantic Railway west of
Duluth having been made, the amount advanced to that
Company for the acquisition of the Duluth & W innipeg
Railway has been returned to your treasury.
37. The land sales for the year were 199,482 acres for
$665,740 (see schedule “ D” ), an increase over 1896 of 111,604
acres, or 127 per cent, and an increase in the amount realized
o f $356,812, or 112 per cent. The net amount realized from
town sites was $100,267, as against a deficit of $7,860 in 1896.
38. The recovery in the prices of farm products, and
especially of wheat, has given vigor to agricultural develop
ment in the Canadian Northwest, and the Directors antici
pate a much larger increase in the land sales o f the new
year.
39. The fact that a great majority o f the established
farmers in that part of the country realized from their crops
and cattle in 1897 more than their lands and improvements
had cost them must result in a new and large movement o f
settlers in that direction.
40. The business of Canada seems to have returned to its
normal condition and prosperity is the rule in nearly all
sections of the country.
For the Directors,
W M . C. V AN HORNE,
M o n t r e a l , February 26,1898.
P resid en t.
527
FIXE D CHARGES 1897.
£7,191,500
$7,000,000
1st Mortgage Bonds 5 p. c................. $1,749,931 66
Province of Quebec, 4 ’ 20 P- o............
283,500 00£ 1,100
North Shore 1st mortgage 5 p. c
.
267 66
£ 200,000
Canada Central 2d Mortgage 6 p. c.
58,400 00
“
"
1st
“
Sinking
Fund.....................................................
51,100 00£200,000
St. Lawrence & Ottawa 4 t>. c...........
38,933 34
$2,544,000
Man. S. W. Col. Ry. 1st Mórt. 5 p. c.
127,200 00
140,000 00
, „
Toronto Grey & Bruce Rental...........
£ 4 ,0 0 7 ,3 8 1 15s. 5d. Ontario & Quebec Debentures 5 p. 0.
975,129 5 6
$ 2,000,000
Ontario & Quebeo (ordinary) 6 p. 0.
120,000 00
£1,330,000
Atlantic & North West Ry. 1st Morí,
gage, less Government pronortion
136,333 34
£750,000
Algoma Branch 5 p. 0...........................
182,500 00
Rental, Farnham to Brigham Jet__
1,400 00
~ Rental Mattawamkeag to Yanceboro
23,800 0 0
Rental New Brunswick Ry. system.
370,799 75
Rental of Terminals at Toronto.......
35,149 22
Rental of Terminals at Hamilton...
17,931 35
Rental Hamilton Juno, to Toronto..
23,548 3 6
Rental 8t. Stephen & Militown Ry..
1,366 66
Interest on Montreal & Western Ry.
purchase.............................................
17,097 28
4 % D e b e n t u r e St o c k .
Issues for general p u rp o se ......£3,933,748
Issue for China & Japan St’mers
720,000
Issue for Souris Branch.............. 1,004,000
Issue for acquiring Mortgage
Bonds of Roads of which
principal or interest is guar
anteed by C. P. R. R.
1 year on.......... £3,756,235
6 months o n ...
49,552
£5,657,748 $1,101,374 95
3,805,787
736,036 80
1,837,411 75
£9,463,535
Interest on Land Grant Bonds...................
591,567 33
$6,783,367 26
STATEMENT OF EARNINGS FOR THE Y E AR 1897.
From Passengers......................................................................... $5,796,11512
“
Freight................»............................................................. 15,257,896 94
1
Mails......................................................................................
603,210 49
“
Express................. .................................... ......................
530,749 55
f* Parlor and Sleeping Cars.................................................
361,777 38
“
Telegraph, Grain Elevators and Miscellaneous, in
cluding profit on Pacific Steamships....................
1,499,78 5 07
$24,049,534 65
STATEMENT OF WORKING EXPENSES FOR THE Y E AR 1897
Conducting Transportation................................................... $3,434,755 39
Maintenance of Way and Structures................................... 3,018,748 90
Motive Power....................
4,211,586 61
Maintenance of Cars..... ...........................
955,013 12
Parlor and Sleeping Car Expenses........................................
78,673 90Expenses of Lake and River Steamers...............................
333,381 68
General Expenses ...................................................................
1,336,022 47
377,576 69
Commercial Telegraph............................................................
$13,745,758 76
COMPARATIVE STATEMENT OF EARNINGS AND E XPE N SE»
FOR. THE YEARS 1888 TO 1897, INCLUSIVE.
18 i 8.
1889.
1890.
1891.
1892
$
*
$
$
P a ssen g ers___ 3,800,883 18 4.623.474 00 4,774,713 76 5,459.789 46 6.556.316 40
Freight.............. 8,017,313 66 9,057,719 34 10,106,644 02 12,665.540 26 13.830,540 19
Mails.................
263,314 46
354,044 32
356.038 61
516,098 45
483,922 68
Express............
244,247 18
247,606 70
260,268 43
288,633 26
302,259 34
P a rlo r and
Sleeping Cars
187,694 13
268,096 76
239,103 14
303,545 09
331,202 7»
Telegraph,
Grain Eleva
tors & Miscel
laneous, includ’g Profits
on P a c i f i c
Steamships...
632,052 99
847,190 93
786,767 40 1,007,489 41 1,405,110 53
T otal........... 13.195,635 60 15,369,138 43 16,552.528 98 20.241,095 98 21,409.351 77
Expenses.......... 9,324,760 68 9,241,302 27 10,252,828 47 12,231,436 11 12,980,004 21
Net Earnings..
3,870,774 92 6,127,83616 6,299,700 51 8,009,659 87 8,420,34756
1893.
1894.
1895.
1896.
1897.
$
$
$
$
$
Passengers....... 5,6f 6.204 90 4,840,412 33 4,683,137 74 4,920,143 30 5.796.115 12
Freight.............. 12,673.075 38 11.445,377 78 11,877,851 95 13,187,560 31 15,257.996 94
Mails..................
496,134 49
498.120 16
540,1 L6 18
607,543 98
603.210 49
Express...........
333,975 39
342,472 29
887,605 93
460,201 90
530,749 65
P a rlor and
Sleeping Cars
380,470 10
331,719 69
302,637 63
303,688 49
361,777 38
Telegraph,
Grain Eleva
tors & Miscel
laneous, includ’g Profits
on P a c i f i c
Steamships... 1,422,457 8 1,294.056 46 1,149,687 44 1,302,458 87 1,499,785 07
T otal........... 20,962,317 44 18.762.167 71 18.941,036 8* 20,681.596 81 24.049.534 65
Expenses...... . 13,220,901 39 12,328,858 63 11,460,085 88 12.674,015 10 13,745,75876
Net E arnings.. 7,741,416 05 6.423,309 08 7.490.950 99 8,107,581 74 10.303,775 89
STATEMENT OF EQUIPMENT AT DECEMBER 31ST, 1897.
Locomotives............................................... j .............................................
598
1st & 2d class Pass, cars, Bagg’e cars and Colonist sleep, cars..
588
First-class sleeping and dining cars...................................................
99Parlor cars. Official and Paymasters’ cars.......................................
30
Freight and cattle cars (all kinds)....................................................... 15,544.
312
Conductors’ vans.....................................................................................
Board, Tool and Auxiliary Cars and steam shovels..*,..................
576
Pacific Steamships, “ Empress of China,” “ Empress of Japan,”
"Empress of India.” Pacific Coast Steamships, “ Athenian,”
“ Tartar.” Lake Steamers, “ Alberta,” “ Athabasca,” “ Mani
toba.”
Ferry Steamers, “ Ontario,” “ Michigan.”
River
Steamers, Kootenay District, “ Kootenay,” “ Rossland,”
“ Lytton,” “ Kokanee,” “ Slocan,” “ Illicilliweat,” “ Aberdeen,”
“ Tiail,” “ Nelson,” “ Columbia.”
528
THE
CONDENSED
BALANCE
rvoi,; Lxvi.
CHRONICLE.
SHEET DECEMBER
31ST,
1897.
COST OF ROAD.
CAPITAL STOCK......................................................... ......... $65,000,000 0 0
Main Line ............... .............................. $139,722,055 48
FOUR PER CENT PREFERENCE STOCK..........
9,830,666 67
Lines acquired and held under per
FOUR PER CENT CONSOL. DEBENTURE STOCK. 46,055,870 33
petual leases........................ .............
23,175,062 38
MORTGAGE BONDS.
Branch Lines.......................................... 15,007,292 07
Crow’s Nest E xten sion .....................
1,766,861 48
1st Mort. bonds, 5 p. o t ..£7,191,500 $34,998,633 33
-------- — -----$179,671,27141
Canada Central 1st Mort
EQUIPMENT.
gage, amount of issue,
Rolling Stock......................................... $17,132,440 31
£ 5 0 0 ,0 0 0 ........ ..............$2,433,333
Lake and Perry Steamers..................
1,135,874 23
Sinking Fund deposited
Shops and Machinery (Montreal,
with Government.......... 1,500,000
Hoohelaga, Perth and Carleton
1,379,311 12
Place).........................................
Balance at maturity......... ................ .
850,000 00
19,647,625 66
Canada Central 2d Mort.,6 percent.
973,333 33
JAPAN AND CHINA STEAMSHIPS AND APPUR
Due Province of Quebec on Q M. O.
3,504,403 01
TENANCES ..........................................................................
3,500,000 00
& O. Railway, at 4120 per cent.......
297,336 28
YUKON STEAMSHIPS............ ................................... ..
Due Province of Quebec on North
BRITISH COLUMBIA LAKE AND RIVER STEAM
3,500,000 00
Shore Railway, at 4120 per cent....
347,931 46
ERS...................... .................................................................
Algoma Branch, 1st Mort., 5 per ot
3,650,000 00
ACQUIRED SECURITIES HELD AGAINST DE
North Shore Ry., 1st Mort., 5 p. ct..
616,119 67
BENTURE STOCK ISSUED.
48,088,086 33
Schedule “ A ” ...................................................................... 23,689,273 21
LAND GRANT BONDS, 1st Mortgage.
OTHER ACQUIRED SECURITIES.
00
Amount
of
issue........$25,000,000
2,192,161 94
Schedule “ B ” .......................... ............................................
Less—A m o u n t re
REAL ESTATE, surplus lands at and
deemed & canceled. 20,578,500 00
near Montreal, available for sale....
333,461 51
4,421,500 00
Hotels and other buildings at Van
Amount
held in trust by Dominion
couver, Fort William and Banff
Government, not bearing interest.
1,000,000 00
Springs Hotel, held by Trustees
from the Company............................
904,114 70
3,421,500 00
1,237,576 21
Land Grant Bonds 3*2 per cent int.
BALANCES DUE ON LANDS SOLD.
guaranteed
by
Dominion
Gov’t
.
.
.
.
15,000,000
00
1,467,256
41
|
Deferred Payments.....................
18,421,500 00
BALANCES DUE ON TOWN-SITES.
218,264
42
Deferred Payments .. .............. .
CURRENT LIABILITIES, ineluding Crow’s Nest ex
tension and Vouchers and Pay-Rolls..............................
ADVANCES.
•
3,155,834 32
To Montreal & Atlantic Ry. secured
INTEREST ON FUNDED DEBT AND RENTAL OF
424,144 80
by $500,000 1st Mortgage Bonds
LEASED LINES.
Interest to Oct. 1st, 1 8 9 4 ...................
75,637 48
499,782 28
Coupons due January 1st, 1898, and
To Montreal & Ottawa Ry. secured by $717,500 1st
including coupons overdue not
Mortgage Bonds:
1,500,759 02
presented .............................................
277,758 66
Amount expended on extension___________________
Accrued to date, not due........ ............
350,259 90
To Minneapolis St. Paul & Sault Ste. Marie Railway,
1,851,018 92
467,817 89 CASH SUBSIDY FROM DOMINION
oar trusts, etc
. ............
....... . .
r . ..
To Duluth South Shore & Atlantic Railway, car
GOVERNMENT....................................
25,000,000 00
236,213 19
trusts,eto
.....
___ . . . . .
SUBSIDY EARNED ON CROW’S
To Columbia & Kootenay Ry. acoount Slocan Lake
NEST EXTENSION.............................
453,750 00
491,080 94 BONUSES FROM PROVINCES AND
extension secured by £120,0001st Mortgage Bonds.
MATERIAL AND SUPPLIES ON HAND (including
MUNICIPALITIES.............................
1,350,188 07
1,924,690 03
construction stores for Crow’s Nest Extension),..
26,803,938 07
STATION AND TRAFFIC BALANCES AND AC
LAND GRANT.
2,281,799 39 !
COUNTS R E C E IV A B L E .............................. ..............
3,711,850
acres
sold,
amounting
to.
12,107,593
43
MISCELLANEOUS
SECURITIES
AND
AD
6,793,014 acres taken by Dom. Gov. 10,189,521 00
1,981,825 38
VANCES. Schedule “ 0 ”
...
IM PERIAL AND DOMINION GOVERNMENTS,
22,297,114 43
229,351 06
amounts due for mail transportation (since paid).
Less—Expenses, cultivation rebate,
DOMINION GOVERNMENT on account work on
and 10 per cent on Land Grant
453,750 00
Crow’s Nest Extension (since paid)............................
Bonds taken in payment.............. .
2,769,303 90
4,669,161 62
CASH IN BANK............................................. ......................
Proceeds Columbia & Kootenay Ry.
lands..................................................
Less—Cancellation of M. S. W. C.
Ry. sales— ............ ........... ...............
TOWN SITES.
Amount received from sale of Town
Sites* not covered by Land Grant
Mortgage............................................
Less - Expenditure improvements,
grading, clearing, etc.......................
Surplus receipts applied against Ad
vances on Land Bond Interest___
19,527,810 53
3,288 60
19,531,099 13
85,311 37
19,445,787 76
3,024,864 43
881,316 57
2,143,547 86
780,323 17
1,363,224 69
AD1USTMENT OF INTEREST ON MONTREAL &
ATLANTIC RY. ADVANCES.........................................
SURPLUS EARNINGS ACCOUNT...................................
$245,786,330 45
75,637 48
5,694,765 88
$245,786,330 45
I. G. OGDEN, Comptroller.
N o t e —In addition to the above assets, the Company owns 17,468,339 acres of land.
SCHEDULE “ A .”
SCHEDULE “ C.”
DETAILS OFfBALANCE SHEET ITEM—“ ACQUIRED SECURITIES
HELD AGAINST DEBENTURE STOCK ISSUED.”
Atlantic & North West Ry. 5 p. 0. Guaranteed Stock ...$ 3,240,000 00
Columbia & Kootenay Ry. 4 p. c. First Mortgage Bonds.
693,500 00
Manitoba South Western Colonization Railway 5 per
cent First Mortgage Bonds................................ ..............
72,000 00
North Shore Railway 5 per cent First Mortgage Bonds.
610,766 34
Duluth South Shore & Atlantic Railw ay—
4 per cent Consolidated Mortgage, guaranteed............ 15,107,000 00
Income certificates..................................................'
.. 3,000,000 00
Preferred Stock (constituting a majority)..................... 5,100,00 » 00
Ordinary Stock (constituting a majority)....................... 6,100,000 00
Minneapolis St. Paul & Sault Ste. Marie Railway—
4 per cent Consolidated Mortgage, guaranteed............
2,760,000 00
Preferred Stock (constituting a majority).....................
3,533,400 00
Ordinary Stock (constituting a majority)....................... 7,066,600 00
Souris Branch, First Mortgage Bonds, £400,(»00......... .
1,946,666 67
Pacific Steamship First Mortgage Bonds, $720,000....... 3,504,000 00
Montreal and Ottawa Railway Bonds.................................
518,750 00
S C H E D U L E “ B .”
DETAILS OF BALANCE SHEET TTE V I-“ OTHER ACQUIRED
SECURITIES.”
DETAILS OF BALANCE SHEET ITEM—“ MISCELLANEOUS
SECURITIES AND ADVANCES.”
M o n t r e a l & Ot t a w a R
a il w a y
B on d s.
(Acquired, from proceeds of Preference
Stock issued in 1893)..................................$400,000 00
A t l a n t ic & N o r t h W e s t R a i l w a y B o n d s —
Eganville Branch.
(Acquired from proceeds of Preference
Stock)............ ............................................
302,400 00
M o n t r e a l & A t l a n t ic R a i l w a y S t o c k ,
21,600 shares. $2,160,000 00 (cost)...................................
(Formerly South Eastern Railway.)
$702,400 00
1,489,761 94
$2,192,161 94
P a c if ic P o s t a l T e l e g r a p h C a b l e C o .’ s St o c k (cost)
$400,000 00
(Pacific coast system, Washington, Oregon, Califor
nia. Stock represents half interest. Other half
owned in interest of the Postal Telegraph Cable Co.
of the United States and the Commercial Cable Co.)
M in n e . p o l is St . P a u l & S a u i .t S t e . M a r i e R a i l w a y
Co m p a n y .—Income certificates most)......................
(Acquired in connection with the controlling interest
in the stock of that Company.)
C h a t e a u F r o n t e n a c (Q u e b e c H o t e l ), Stock.............
Undertaken in the general interest of the Company in
connection with the acquisition of the North Shore
Railway (the Company’s line between Montreal and
Quebec) and in connection with the cancellation of a
contingent liability of $1,108,626 thereon.
C a n a d a N o r t h w e s t L \h d Co . St o c k (cost).....................
(Taken by this Company in 1882 as one of the terms
of sale of 2,200.000 acres of land to C. N. W. Ld. Co.)
N i a g a r a B r id g e & R e a l E s t a t e .
(Acquired in 1890, with view to extension of line from
Woodstock and Hamilton to Niagara Falls.)
D o m i n i o n E x p r e s s C o m p a n y ’ s S t o c k . . . , ................
(This Company’s Express, the stock of which is all
held in the Treasury. Amount paid up represents
cost of original equipment and organization.)
I n s u r a n c e P r e m iu m s P r e p a i d ...........................................
(On contract to secure advantageous terms.)
S o o t h O n t a r io & P a c if ic R a i l w a y St o c k ..................
(This Company’s organization for line, Woodstock,
Hamilton and Niagara Falls.)
M is c e l l a n e o u s S e c u r it ie s a n d A d v a n c e s .................
270,000 00
280,000 00
518,087 27
96,588 77
113,750 00
156,089 59
20,000 00
127,309 75
$1,981,825 38
M arch 12
THE CHRONICLE
* 8j
SCHEDULE “ D.” —LANDS.
A m ou nt
realized.
$431,096
220,360
234,644
88,568
665,740
308,928
Acres.
135,682
66,624
63,800
21,254
199,482
87,878
Sales—
Canadian Pacific Land Grant.. 1897
1896
Man. South Western Grant ...1 8 9 7
1896
1896
A vera se
p e r acre.
$3 18
3 30
3 68
4 17
3 33:!4
3 51ia
POSITION OF LAND GRANTS AT DEC. 31ST, 1897.
C a n a d ia n P a c i f i c —
A c re s .
A c re s .
Original G r a n t......... .
.. ................................. ..2 5 ,00 0 ,00 0
Surrendered to Government under agreement of
March 30th, 1886..................................................... 6,793,014
18,206,986
1,611,520
Souris Branch Land g r a n ts..........................
19,818,506
Sales to Dec. 31st. 1 8 9 7 ............. ...........3,758,748
46,898
Less canceled in 1897..............................
----------------- 3,711,850
Quantity of land unsold................................
16,106,656
M a n it o b a S o u t h We s t e r n —
A c re s .
Total Grant............ ................ .......................... ............ 1,396,800
Sales to Deo. 31st, 1697............................ 235,758
Less canceled in 1897.............................
12,529
--------------223,229
1,173,571
Quantity of land unsold.............................................
C o l u m b ia & K o o t e n a y —
A c re s .
Total Grant................’ ..........................
Sales to Deo. 31st, 1 8 9 7 .............................................
190,000
1,888
-----------------188,112
Total land owned by the Compauy........................................ 17,468,339
529
B rou g h tforw a rd ......................................................................
South Western Branch—
Filling oulverts, & c ............................$1,870 66
Additional fencing.......................
606 81
Right of w ay............ ........
77 70
Additional buildings............................ 4,795 35
Additional sidings................................ 1,759 39
$9,109 91
Souri s Branch—
Additional fencing..........................$1,133 75
Additional buildings, etc..............
405 35
Ballasting, filling culverts, e tc... 1,131 80
Right of w ay....................................
516 02
Additional sidings.......................... 1,103 50
4,290 42
Algoma B ran ch Additional fencing.......................... $1,870 51
Filling culverts and trestles,
wideningouttings and embank
ments...........................
35,364 89
Permanent bridges....... ............... 1,272 54
Heavy rails and fastenings, less
credit for lighter rails removed.
185 89
38,693 83
Revelstoke and Arrow Lake Branch—
Docks and wharves........................ 1,974 32
Permanent bridges........................ 3,399 85
Right of way....................................
547 96
Additional buildings....................
423 54
Additional sidings........... ...............
700 00
7,045 67
$ 1 ,298,^12
65,276 8 7 ”
32,246 32
Telegraph extensions and additions.
T o ta l...,* ............................................................................... $1,396,035 68
DETAILS
SCHEDULE
G .”
OF EXPENDITURE ON LEASED
LINES DURING 1897.
AND
ACQUIRED»
O n t a r io & Q u e b e c R a i l w a y .
S C H E D U L E R E .”
CONSTRUCTION—ACQUIRED AND BRANCH LINES.
Nakusp & Slocan Branch................................................................ $8,268 68
Lake Temiscamingue Colonization Ry........................................ 6,324 25
Trail Creek & British Columbia R y.......................... .................. 13,138 20
Hoohelaga Ext ension...................................................................... 11,448 68
Preliminary surveys of projected lines......................................
917 34
Total for construction of Branch Lines.........1.................. $40,097 15
S C H E D U L E “ F .”
DETAILS OF EXPENDITURE ON ADDITIONS AND
IMPROVEMENTS DURING 1897.
Heavy rails and fastenings, less credit for
lighter rails removed......................................... $10,219 43
Permanent bridges................................................
6,312 47
2,775 05
Additional sidings................................... j...........
Additional stations and buildings...................
4,960 95
Right of way and perfection of title................
8,060 24
Filling trestles and oulverts. widening cut
tings, embankments, etc............ ................ .
45,848 35
Water supply......................... ....................... .
6 ,45 8 14
Elevator, Owen S o u n d ...................................... 114,906 67
Terminals at Toronto:
Company’s proportion of cost of
York Street and John Street
bridges............ .............................. $31,436 63
Buildings and yards..................... 33.601 31
Property on Brock Street.............. 4,104 10
---------------69,142 04
M ain L in e.
Qu e bec
to
$ .9 8 ,6 8 3 34
Additional sidings................................................
$6,454 45
Additional buildings, stations and yards___
9,570 83
Heavy rails and fastenings, less credit for
lighter rails removed...................... ................
14,497 74
Filling trestles and culverts.............................
710 03
673 55
Permanent bridges......... . ...................................
Additional fencing..............................................
697 02
Improvements Hochelaga Stock Yards.........
2,114 15
Improvements Outremont Yards....................
9,669 43
15,834 53
Pembroke, new station, etc...............................
Montreal East End Station............................... 184,228 87
Payment on purchase of Canada Central Ry.
384 83
B o n f ie l d
to
Less: sale of real estate, Montreal and
Toronto...........................................................--
B o n f ie l d .
$291,124 59A t l a n t ic & N o r t h W e s t R \ i l w a y .
Filling trestles and culverts, widening cut
tings, embankments, etc................. ................$171,603 43
Additional stations, buildings and yards.......
8,834 46
Additional sidings............................................... ,
21,805 77
Right of way and perfection of t i t l e ..............
1,655 84
Heavy rails and fastenings, less credit for
lighter rails 1 emoved........................................
32,211 54
Permanent bridges...............................................
64,672 08
Additional fencing.....................: . .................... 1,189 00
$244,835 43 j Hall system signals.............................................. .......9,029 60
F o r t W il l ia m .
Additional sidings....................................
Additional buildings, stations and yards.......
Heavy rails and fastenings, less credit for
lighter rails removed............ ........... ..............
Filling trestles and culverts, widening cut
tings and embankments..................................
Permanent bridges...............................................
Additional fencing...............................................
Facilities for handling coal at Jackfish.........
F o r t W il l ia m
to
Additional buildings, stations and yards___
Filling trestles and culverts, widening out-
On account of purchase........................ ..............
27,497 33
31,607
42,453
3,622
452
01
89
02
19
$9,043
515
42,109
6,106
f
'Additional buildings...................... ....................
Additional fencing................................................
Right of way and perfection of title.................
Additional water supply.....................................
Filling trestles and culverts, widening cut
tings and embankments..................................
106,842 21 Additional sidings.............
Coaling facilities at Holland....................
C o l u m b ia & K o o t e n a y R
42,052 63
36,402 L7
147
288
',6 9 7
3
95
95
14
00
$3,986 96
402 61
958 08
Total............ ...............................................................................$619,995 02
R E C E IP T S A N D E X P E N D IT U R E S , 1 89 7 .
R E C E IP T S .
P a c i f i c Co a s t .
B ra n ch L in es.
4,590 40
1,644 97
687 35
5,347 65
Total on main l i n e ............................................................ $.'1,298,512 49
’**’
88
24
60
50
a il w a y .
Wharves and docks................................................
Right of way and perfection of title................
Spurs and sidings...................................................
Filling trestles and culverts, widening cut
tings, embankments, etc....................................... $108,708 80
Right of way and perfection of title....................
998 63
Additional sidings...................................................... 13,959 ^7
Permanent bridges......... .............
190,716 05
Additional buildings an d yards.................
2,314 30
Additional fencing.....................................................
1,474 29
Wharves, warehouses, docks, etc.............
24,167 35
Permanent bridges, filling tres. ties .and other improvements
on Government section........... $137,415 93
Less amount received from Do
minion Government under
award...........................................
616 67
------------------- 136,799 32
Hotel at Revelstoke...................................
22,363 27
------------101,501 88
Emerson Branch..
Selkirk Branch—
Stonewall Branch.
Mission Branch....
$193
2,093
29
52
9,291 9 4
55
79
11
65
445,332 97
to
3,229 12
M a n it o b a S o u t h w e s t e r n C o l . R a i l w a y .
138,655 76
3,140 01
Additional water supply....................................
1,964 93
Freight shed, Fort William................................
Coal dock and facilities for handling coal,
4,111 39
Fort William........................................... - ..........
1,664 88
Port Arthur elevator, additional machinery.
New elevator and tracks, Fort William . . . . . 159,566 20
D onald
311,001 72
M o n tr e a l & W estern R a il w a y .
$660 37
549 40
D onald.
Permanent bridges...................................... .
Right of way and perfection of title.......
Additional sidings................................................
Additional fencing................................................
Heavy rails and fastenings, less credit for
7,558 75
Treasury Balance December 31st, 1 8 9 6 ...
$4,478,556 25Surplus revenue, as per statement.........$ 3 ,8 6 1 ,1 1 5 11
Land D epartm ent—
Proceeds of land sales...........$437,559 84
Less expenditures..................... 7 1 ,5 1 10 7
$366,048 77
Less Land Grant Bonds can1,500 00
celed.........I .. . . . - - ---$364,548 77 *
Less amount remaining in
Deferred Payments............. 351,747 02
$12,801 75
Collection of Deferred Pay1
ments
............................... 172,935 28
.
------ - ----------M an. S. W. Col. R y. L an d Grant—
Proceeds of sales..................... $241^252 32
Less expenditures...................
10,933 70
(
185,757 03
■MKTU-i
$230,318 62
Less Interest paid Province
_ ..L i
of Manitoba.............
43,149 96
$187,168 66
Less amount remaining
nn
Deferied Payments.............. 162,801 09
-------------------
i
24,367 07
Ô 80
1HE CHRONICLE,
B rought fo r w a r d ......... ............................................. ..................... $ 4j47&yS5 à 2j
Town Sites—
Proceeds of sales....................$ 1 6 6 ,9 7 9 12
Less expenditures, improve
ments, grading, clearing,&c. 66,711 51
$100.267 61
Collection of Deferred Pay
ments ....... .........................
6,956 69
$107,224 30
Less amount applied against
100,267 61
advances on lands......... .
-------------------$6,956 69
Advance to Duluth South Shore & Atlan
tic Railway on account Duluth & Winni
peg Railway rep aid .............................
1,674,137 53
---------------------- 5,752,333 93
M ontreal A Ottawa R ailw ay Amount realized from sale
of 1st Mortgage Bonds— $466,875 00
Less, Advances on extension
of r o a d ................................. 372,783 60
-------------------$ 94 ,0 91 4 0
B onuses—
Dominion Govt, subsidy,
earned on construction
Crow’s Nest Extension... $453,750 00
Provincial Go vernment sub
sidy on Lake Temiscamingue Col. R y ....................... 39,270 00
Town of Owen Sound, Ont.,
on elevator constructed at
that place.............................
40,000 00
Town of Carleton Place on
shops constructed at that
20,000 00
p la c e ..............................
-------------- —
553,020 00
C onsolidated Debenture Stock.
Amount issued for acquiring guaranteed
securities £ 1 4 5 , 8 7 5 . . . ....... .
708,027 00
Four p e r eent P referen ce Stock.
Amount realized from sale of ,£375,000
sold to meet Capital Expenditure....... 1,666,399 28
------------------- 3,021,537 68
[V o l.
LXVI,
FREIGHT TRAFFIC.
1895.
1896.
1897.
Number of tons carried . . .
4,274,667
4,442,055
5,174,484
Number of tons car’d one m l , 490,639,947 1,769,958,865 1,955,911,006
Earnings per ton per mile..
0*80 cents.
0-75 cents.
0-78 cents.
PASSENGER TRAFFIC.
1895.
1896.
1897.
2,983,793
3,029,887
Number of pass, carried___
3,179,589
Number of pass, carr’d 1 m. 260,317,256 263,607,453 317,997,951
Earnings per pass, per mile 1*80 cents.
1'83 cents.
1*82 cents
TRAFFIC*TRAIN EARNINGS, 1897.
Mileage.
Passenger................. ........6,273,999
Freight.................................... 9,826,734
Earnings.
7,039,001 37
14,744,181 91
T otal............ ....................16,100,733
$21,783,183 28
E a rn in gs p e r
Traffic Train
Mile.
$1 12
1 50
$135
The above earnings o f traffic trains include efirnings from
Mails, Express and Sleeping Cars, but do not include Lake
Steamers, Pacific Steamers, British Columbia Lake and
River Steamers, Telegraph, Elevators, Rents, & c,, the net
earnings from which amounted to $1,555,893,
EXPENSES PER TRAFFIC TRAIN MILE, 1897.
E xpenses p e r
Traffic Train
Expenses.
Mile.0*187
Maintenance of way and structures........ $3,018,748 90
Motive power....................
4,211,586 61
0*262
Maintenance of cars
...............
955,013 12
0*059
Traffic and general expenses............... ...... 4,849,45176
0*301
$13.034,800 39
$0*809
Texas & P acific R y.—P ro p o sitio n A ffecting S econds.—
Outside parties are seeking support to a proposition to con
vert the second mortgage bonds into a fixed charge to the
extent of 50 per cent o f the amount and 50 per cent
$13,252,427 86 in stock. There are $23,172,588 of the seconds. It is under
Add increase in Current Liabilities..................................
667,803 61 stood the management do not favor increasing the fixed
$13,920,231 47 charge, and believe the true policy is to build up the prop
erty and put it in shape for handling business to the best
Deduct Station and Traffic Balances and
accounts receivable............................... $2,281,799 39
advantage, and thus add to the real value o f the bonds.—V.
Miscellaneous Securities and, Advances 1,981,825 38
66, p. 473. *
$1,263,624 77
Union Bridge Co. o f D etroit.—In co rp o ra ted .—The Union
Less Amount at December 3 1 ,1 8 9 6 ___ 4,115,239 59
Bridge Co. has been incorporated in Michigan by the Grand
------------------148,38518
Trunk and Wabash railroad companies to build a railroad
$13,771,846 29 bridge at Detroit. The stock of the new company is fixed at
$2,000,000. The project o f building a bridge at this point
E X P E N D IT U R E S .
has long been a favorite one with the railroads centering
there, but it has always met with strong opposition from
Interest on funded debt and rental of
those who fear that it will impede navigation.
leased lines due January 1st, 1897, and
aocrued to that date............................... ..
$1,741,779 69
W estern Union T elegraph.—Q u artarly .—Earnings (partly
D ividends on Preference Stock—
estimated) for the quarter and the nine months ending March
2 per cent paid April 1st, 1897................ $160,113 33
2 per cent paid October 1st, 1897...........
167,413 33
31 have been reported:
D ivid en ds on O rdinary Stock—
1 per cent paid April 1st, 1897...............
l*fl per cent paid October 1st, 1897.......
Construction acquired and branch lines
(Schedule E ) ............................... .
1........
Construction Crow’s Nest extension.........
Additions and improvements main line
and branches (Schedule F ) .......... ............
Additions and improvements leased lines
(Schedule G).................................................
Rolling stock, shops and machinery.........
Hotels and other b u i l d iD g s at Vancouver
and other points held in trust.................
Y u k on Steamship L ine—
Purchase of steamships “Athenian”
and “ Tartar” .................... .......................
B ritish Columbia L a k e A R iver Steam
ships—
Purchase of steamboats and barges.......
R eal Estate—
Purchase of timber limits.. . .....................
Purchase of real estate in Montreal.. . . .
327,526 66
$650,000 00
975,000 00
1,625,000 00
40,097 15
1,679,031 86
3 months ending
Dec. 3. N etreven ’ e.
1898 (estimated)...$1,200,000
1897 (actual). 1,100,000
9 mouths—
1898 (estimated).-.. 4,550,000
1897 (actual). 4,232,987
Interest
charges.
$234,411
243,358
Divid'ds p'd.
Balance.
$1,216,980 def.$251,391
1,191,961 def. 335,319
703,911
730,216
3,6*0.930 sur. 195,159
3,575,881 def.
73,110
Total surplus March 31, 1898 (estimated), $7,771,849. The
regular V /i per cent dividend is payable April 15, 1898.—V.
619.995 02 65, p. 1127.
817,115 61
W estern Union Beef—W estern Live Stock and Land—
858 29 C hange o f N am e—R ed u ction o f C a p ita l.—The stockholders
of the Western Union Beef Co. on Feb. 28 voted to change
the name of the company to that o f the Western Live Stock
297,336 28
& Land Co. and to reduce the capital stock from $15,000,000
to $408,000 ; also to distribute the $700,000 surplus in the
314,238 78 treasury pro rata to the shareholders, giving each about
$4*50 per share, and leaving about $20,000 cash in the treas
ury.—Y . 66, p. 84.
W heeling & Lake Erie R y.—C oupon P ay m en ts.—The
61,127 01
coupons on the Toledo Belt bonds, which, in March, 1897,
were not paid promptly, owing to some little confusion inci
481,252 40
dent to the receivership, have since that time been paid
promptly at maturity, norfe now being in default.—V. 66,
p. 343.
1,396,035 68
$1,502 00
59,625 01
Advances—Columbia A Kootenay R ailw ay—
Amount advanced for construction of
Slocan Lake branch.................................
Guaranteed Securities A eq u ired by Sale
o f 4% Debenture Stock—
Montreal & Ottawa Ry. 1st Mortgage
Bonds, $518,* 50 0 0 ................................. $466,875 00
Duluth South Shore & Atlantic Ry. 4%
Consolidated Bonds, $131,000 00 . . . .
119,517 39
Minneapolis St. Paul & Sault Ste. Marie
Ry. 4% Consolidated Bonds,$151,000.
121,619 45
--------------------------Increase of material and stores on hand.......................... ,
W isconsin Central Company.—R eo rg a n iz a tio n N otice.—
The Hart reorganization committee gives notice to the
holders of the income bonds (and U. S. Trust Co. certificates
708,011 84 of deposit for same) and to the holders o f preferred and com
161,196 26 mon stock that deposits will be received up to and including
March 26, after which date penalties of $2 50 per bond and
$10,270,602 53
35 cents and 20 cents per share of preferred and common
Add Cash Assets December 31st, 1 89 7 ...$ 4 ,6 6 9 ,1 6 1 62
stock, respectively, w ill be charged. The Old Colony Trust
Add Amounts due irom Imperial and
Dominion G overnm ents...,.....................
683 ,1 01 0 6
Company’s certificates of deposit for the income bonds, pre
ferred and common stocks were listed on the Boston Stock
,
$5,352,262 68
Exchange, Feb. 8, 1898.—Vol. 66, p. 385.
lûess amount of accrued fixed charges.. . . 1,851,018 92
----------------------
3,501,243 76
$13,771,846 29
DESCRIPTION OF FREIGHT CARRIED DURING THE YEARS
1896.
1897.
DESCRIPTIO N —
!
1895.
3,291,299
2,911,072
Flour, barrels........................
; 2,832,304
32,528,256
37,756,201
Grain, bushels ................
27,628,593
566,219
663,773
Live Btock, head........ i .........
562,135
Lumber, f e e t . . . . . . . . . . . . . . . . 638,806,374 636,128,418 831,895,383
166,831
185,208
Firewood, cords....................
177,032
1,070,675
1,310,827
Manufactured articles, tons
1,050,014
878,261
994,813
A ll other artioles, to n s.......
930,101
—The American Exchange National Bank statement was
incorrectly .printed in last week’s C h r o n ic l e . The corrected
report will be found among the advertisements in to-day’s
issue.
—Attention is called to the card o f Reitze, Stern &
Schmid members o f the New York Stock, Cotton and Prod
uce Exchanges, on page II. of the C h r o n ic l e . Foreign ex
change and investment securities are the especial features of
the firm’s business.
THE CHRONICLE.
M arch 12, 1898.]
C OT T ON.
(&ommzxtwl
C O MME R C I A L
E P I T O ME .
March 11, 1898.
Interest in the Spanish-American political situation has
continued keenly alive, and although the developments have
had considerable influence upon the course of values in the
speculative markets, they have not interfered materially with
general trade conditions, business in most lines being normal
for the season of the year, with the general outlook encour
aging. The Anglo-Russian-Chinese situation has received
close attention and has had some influence upon the course of
grain and cotton values. There has been no falling off in
the movement of gold from Europe to New York, large
withdrawals having been made from the Bank of France the
past week for shipment here. The. action of Congress in
unanimously voting to place $50,00*0,000 in the President’s
hands for national defense has been a leading event o f the
week.
Lard on the spot had a moderate sale to exporters, but re
finers have been only limited buyers; prices have held steady,
closing at 5*45p. for prime Western and 5'15c. for prime City.
Refined lard has had a moderate sale at steady, prices, clos
ing at 5’80c. for refined for the Continent. Early in the
week prices for lard futures weakened slightly under selling
by packers. Subsequently, however, prices advanced slightly
on smaller receipts of hogs than expected. The close was
steady.
F r id a y N ig h t ,
DAILY CLOSING PRICES OF LARD FUTURES.
May delivery
Sat.
............ O. 5*50
Mon.
5 ’45
Tues.
5*45
Wed.
5 ‘55
Thurs.
5'55
Fri.
5'5?
Pork has had only a moderate sale, but prices have held
about steady, closing at $10' 50 for mess, $11 25@11 75 for
family and $10 5u@12 for short (dear. Cut meats have had
only a limited call, but prices have been maintained, closing
at 63^c.@61^c. for pickled bellies, 12@10 lbs. average, 4% c.@
4% tor pickled shoulders and 7%c. for pickled hams. Beef
has been in fair demand and steady at $9 50 for mess,
$10 50@11 for packet, $10 50 a 12 for family and $16@17 for
extra India mess. Beef hams have been quiet but steady at
$22 50@23 50. Tallow has been in demand for export, and
prices have held steady at 3 ll-16c. for prime City. Oleo
stearine has been quiet but steady at 4%c. Lard stearine has
been unchanged at 6>^c. for prime City. Cotton seed oil has
been quiet and easier at 22%@23c. for prime yellow. Butter
has been quiet and barely steady at 15@20c. for creamery.
Cheese has had. a moderate sale at steady prices, closing at
6@9e. for State factory, full cream. Fresh eggs have declined
to 10%@U)M for choice Western, closing steady.
Brazil grades o f coffee have sold slowly, and owing to lower
firm offers and a large crop movement prices have declined,
closing easy at 5%c. for No. 7. Prices for package coffee
have been lowered % c. Mild grades have been steady for
the desirable kinds, which have had a moderate sale at un
changed prices, closing at 9 @ 9^ c. for good Cucuta The
East India growths were firm but quiet at 24c. for standard
Java. The speculation in the market for contracts has been
quiet, but under limited offerings, prompted by weaker Bra
zilian and European advices, prices declined. The close was
easy. Following are final asking prices:
Maroh..................5*20o. I June..................1 5-40c. I Sept.................„ 5-55o.
April................... 5’20o. July.................... 5-50o. |Oct..................... 5-60o.
May..................... 5 ‘25o. 1Aug..................... 5*50c. l Deo...................
5'70o.
Raw sugars have had a moderate sale at steady prices,
closing at 43^c. for centrifugals, 96-deg. test, and 3%c. for
muscovado, 89 deg. test. Refined sugar has been dull and
prices were lowered l-1 6 @ ^ c., closing at 5J^c. for granulated.
Syrups have continued in demand for export. Teas have
been quiet but steady.
Kentucky tobacco has been firm.but quiet. Sales for the
week were 150 hhds. Seed leaf tobacco has been less active
but steady. Sales for the week were 1,450 cases, as follows:
500 cases 1896 crop, Wisconsin Havana, 10@12c.; 300 cases
1895 crop. Zimmers, I5^@18e. ; 275 cases 1896 crop, New
England Havana, 18@373^c,;: 75 cases 1896 crop, New Eng
land seed Jleaf, 22@28c. ; 50 cases 1893-94 crops, Dutch, 12c. ;
150 cases 1893-95 crops, Pensyjvania seed leaf, li% @ 1 3 % c.;
150 cases sundries, 6(®16c.i also 400 bales Havana at 60c.
@$1 05 in bond |and 100 bajés Sumatra at 90c.@$l 80 in bond.
Straits tin has continued in fair demand, and in response to
stronger foreign advices prices have advanced, closing at
$14 40@14 50. Ingot copper has again advanced and a large
export business for forward deliveries has been transacted,
closing firm at 12c. for Lake. Lead has been quiet but steady
at 3*75c. for domestic. Spelter has been firmer but quiet at
4*15®4,20c. for domestic. Pig iron has been quiet but steady
at $9 75@12 for domestic.
Refined petroleum has been easier, closing at 5*85c. in
bbls., 3‘35c. in bulk and 6'50c. in cases; naphtha quiet at
5"50c. Crude certificates have declined, closing at 78c. bid ;
credit balances have been lowered to 79c. Spirits turpentine
has been moderately active, but prices have weakened
slightly, closing at 36J^@36*^c. Rosins have been steadier,
closing at $1 423*2@1 47% f ° r common and good strained.
Hops have been quiet but teady. Wool has been dull and
easy.
581
F riday N ight , March 11, 1898.
T he Movement op the Crop , as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening the total receipts have reached 150,221 bales,
against 150,717 bales last week and 162,474 bales the previous
week, making the total receipts since the 1st o f Sept., 1897,
7,669,398 bales, against 6,115,406 bales for the same period o f
1896-7, showing an increase since Sep.1,1897, o f 1,553,992 bales.
Receipts at—
Sat.
Galveston.........
Tex. City, &c.
New Orleans...
Mobile..............
Florida...........
Savannah.........
Brunsw’k,&c.
Charleston.......
Pt. Royal,&o.
Wilmington....
Wash’ton, &o.
Norfolk.............
N’p’t News, &o.
New York.......
Boston..............
Baltimore........
Philadel’ a, &c..
Mon.
Tues.
2,790
6,249
6,403
3,037
1,637
3,811
Wed.
Thurs.
5,033 7,113
....... ...... ...... ••••.. ......
4,020 14,101 12,397 12,063 10,254
137
888
423 1,825
362
.......
443
.........
488
3,346
2,703
......
......
827
......
219
......
261
......
284
......
642
......
325
156
......
......
771
.........
461
526
1,516
......
146
.........
672
.........
478
726
1,192
......
980
......
259
1,207
......
......
......
......
215
155
103
759
233
......
165
507
129
F ri.
lu ta i.
4,341
1,986
7,772
515
2,100
2,566
10,983
301
567
334
13
906
1,387
400
161
1,986
461
31,929
1,986
60,612
4,150
2,100
17*100
10,983
4,107
567
1,704
13
5,163
1,387
2,088
3,283
1,986
1,063
Tot. this week 12,888 26,568 24,805 25,764 23,417 36.779 150,021
The following shows the week’s total receipts,the total since
Sept. 1,1897, and the stock to-night, compared w ith last year.
Receipts to
M arch 11.
1897-98.
This
week.
Since Sep.
1 ,18 9 7.
Galveston... 31,929 1,796,084
1,986
Tex. C.j&c.
82,697
New Orleans 60,6 L2 2,344,467
4,150 324,776
Mobile.........
Florida.........
2,100 100,595
Savannah... 17,100 1,082,110
Br’wiok.&e. 10,983 231,209
Charleston..
4,107 411,93b
567
62,785
P.Royal,&c.
Wilmington.
1,704 303,967
Wash’n, &c.
13
1,208
Norfolk.......
5,163 509,596
N’portN.,&o
1,387
1*5,924
New York...
2,088
83,655
Boston.........
3,283 159,243
Baltimore. .
1,986
64,052
Philadel.&o.
1,083
64,092
Totals....... 150,221 7,689,398
1896-97.
This
week.
Stock.
Since Sep.
1, 1896.
15,882 1,272,773
3,147 100,368
23,244 1,880,767
4,402 ¿66,794
50
73,249
15,832 774,470
2,128 141,589
2,855 377,494
50
58,518
678 231,125
8
841
7,794 647,710
197
15,338
398
43,226
1,724 141,951
743
56,173
794
32,937
1898.
145,581
474,884
39,635
. .. . ..
73,535
9,391
25,914
1897.
78,922
4,792
304,490
19,724
54,734
3,976
35,656
15,982
13,237
62,166
1,100
188,224
48,000
3i,2 22
12,847
17,315
243,100
18,000
14,660
5,720
79,931 6,115,406 1,128,431
814,326
In order that comparison may be made with other years»
we give below the totals at leading ports for six seasons.
Receipts at—
1898.
1897.
1896.
1895.
1894.
Galves’n,&e.
New Orleans
Mobile..........
Savannah...
Chas’ton, <fco.
Wilm’ton, &e
Norfolk........
N. News, &c.
All others...
33,915
60,612
4,150
17,100
4,674
1,717
5,163
1,387
21,503
19,029
23,244
4,402
15,832
2,905
686
7,794
197
5,842
10,415
21,924
1,996
11,370
' 8,803
1,333
6,664
3,320
5,683 *
22,879
47,491
2,699
11,495
10,364
1,779
12,823
3,213
19,633
7,181
32,221
2,536
9,448
2,004
629
4,451
2,406
5,654
8,541
16,838
674
7,676
1,221
3 60
2,754
1,115
8,752
Tot. this wk.
150,221
79,931
71,518
132,331
66,530
47,931
1893.
Since Sept. 1 7669.398 6115,406 4617,015 6988,415 5373,309 4451,897
The exports for the week ending this evening reach a total
of 179,862 bales, o f which 68,626 were to Great Britain, 14,694
to France and y6,542 to the rest of the Continent. Below
are the exports for the week and since Sept. 1, 1897.
Exports
from —
Galveston.......
T ex. City, &c..
New Orleans..
Pensacola......
Savannah.......
Brunswick.. ..
C harleston....
Port R o y a l....
W ilm ington...
Norfolk...........
N’port N., &c..
New Y ork .......
B altim ore....
Philadelphia..
San Fran., &c.
Week Ending Mch. 11,1899. From Sept. 1,1897, to Mch. 11,189&
Exported to—
Exported to—
Great
Conti lota l
Great
France
France Conti
Total.
Brit’n .
nent. Week. Britain.
nent.
3,803
7,193
761
41,198 11,807 24,041
6,861
2,100
29,745
6,800
6,531
600
7,517
2,500
100
992
7.721 2,827 5,468
2,314
1,825
491
407
4,000
10,996
761
77,408
6,861
2,100
29,745
6,900
8,531
500
7,517
2,600
992
16,018
2,314
2,316
407
4,001
670,802
4,949
790,123
119,708
05,060
73,798
140,303
83,489
45,662
108,556
67,246
10,530
215,219
202,122
69,084
11,722
3,331
276,580
357,694
32,517
200
40,688
2,188
365,457 1,314,839
18,811
23,793
561,750 1,709,607
50,569 170,277
30,882
95,942
539,100 045,445
58,497 198,800
211,791 295,280
8,500
54,102
107,600 270,150
23,527
80,773
719
11,479
103,351 419,268
4,046 206,767
80,378 151,050
1,450
13,172
87,899
91,230
T o ta l.. ___ 68,026 14,694 96,542 179,862 2,671,704 711,897 2,374,989 5,758,590
Gta,', iHP't.OT. 40 8' 6 21,“48 66.38f>128,9.3* 2,637 139 58L978 1.-669,407 4 891,524
THE
532
CHROM LCLE
[V o l . L X ? !,
The Sales and P rices of F utures at New York
shown in the follow ing comprehensive table.
S
o n ? »? Q32P®
§3gf
©ag-g00 © © P* ® 5 ® S* S a ® 3 k
O
DO © S
O
D© © O
D 00 ® ® F
a*® ® p tPf ®m-B> S» M
C© ®
g-® m pi
*
P ®
00Ì
-®S
SD
P
O
Q
ON SHIPBOARD, NOT CLEARED FOR—
^•dSî« »
o*4 «•dS?»
s « $2
‘F 'gS g I 'd
L ea vin g
SD ej8>
Sstock.
sa®
: g ;f i f
Coast
Other
s .i* s©
Great
S
»p a
M arcii 11 ai
pÆS
Total.
¿ürv
B ritain. France. Foreign wise.
!
"
îtt
?:1 F ÖQ
■R
;
•
S:
F
*
P» <1
SD•
SD > CO
SD.
SD•
5•©
P ; «o
p: t
404,958
69,926
P!•
Pi
413
< 7 6 0 37,539
.New Orleans... 27,214
CK.
1
m
: I
m
■
1
O
Q
•
«J
89,151
56,430
d>©
8.974
©•
18,069
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. W e add similar figures for
N ew York, which are prepared for our special use by Messrs.
¡Lambert & Barrqws, Produce Exchange Building.
Galveston.........
-Savannah........
Charleston.......
Mobile...............
Norfolk..............
New York.........
■Other ports___
1,570
None.
None.
None.
None.
None.
None.
27,217
None.
None.
13,200
2,500
9,075
22,925
4.000
1.000
7,600
5,000
3,100
22,400
None.
1,350
None.
16,000
None.
None.
4,000
2,330
20,800
23,500
12,175
45,325
69,535
23,564
18,835
38,666
176,049
73,217
Total 1 8 9 8 ... 102,131
6,330
98,808
26,737
234,506
893,975
32,133
57,204
14,851
5,305
62,772
66,579
5,644
12,359
115,400
141,447
698,926
595,946
Total 1 8 9 7 ...
Total 1 8 9 6 ...
I k off
Even
732 off
7ie off
I k off
I k off
>
w©
© o di
© to
I S) t
Sat. Mon Tues Wed
5
fiiie 5
51*16 51316 51316
5k
6*4
6k
6*4
6 5ie
61s
69ie 61«
6 is
615le
6i5ie
Sat. Mon Tues Wed
UPLANDS.
GULF.
5k
61,6
6is
6%
73,«
Mon
1 889.. ....1 0 3 16 1 881.. ....1 0 1 5 16 1873.. ___20k
1897......... 7 k
1 87 2 .. . . . . 2 2 k
1888.. ....1 0 3 16 1880.. ....1 3 k
1896......... 7 k
1 871.. ....1 4 k
1879.. . . . . 9 k
1895......... 515]6 1887.. . . . . 9 78
1 870.. . . . . 2 1 k
1878.. . . . . 1 1
1 8 9 4 .. . . . . 7»,6 1 886.. . . . . 9 k
1 877.. ....1 2 3 .e 1 869.. ....2 8 k
1885.. . . . . I l k
1 8 9 3 ......... 9 k
1 868.. . ...2 5 k
1876.. . . . , 1 2 k
1892......... 615,6 1 884.. . . . . 1 0 k
1 8 6 7 .. ....3 0
1891......... 815,6 1883.. ....1 0 3 16 1 875.. ....1 6 k
N o t e —On Oct. 1 ,1 8 7 4 , grades of cotton as quoted were changed
According to the new classification Middling was on that day quoted
*&e. lower than Middling of the old classification.
MARKET AND SALES.
SALES OF SPOT AND CONTRACT.
SPOT MARKET
CLOSED.
Sat’day..
Monday.
Tuesday
Wéd’day
Th’day..
Friday..
Quiet..................
Dull at k e dec..
Steady.............. .
Dull........... .
Easy— ..............
Easy at lie dee.
* Total..
Ex
p ort.
Oon- Speer Con
sump. u l’t’n tract.
181
3,200
1,500
---•
¿49
■ 92
' 40
20
235
649
«sog
....
Total.
181
3,200
1,592
40
20
904
A-^OO 5 937
Sales o f
F utures.
44,700
162,600
95,200
82,300
78,400
166,400
■C5C&O05 0 0)0 0)
Óm® H o © °©
•**1M O oj-sJ çn
►
0:05 5 0) 0) ■
4
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lf«©
1
1or
1«
©©
®© 5
© o ai
-4 0 0
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è ï j
I «F-® 1 9 .^:
-4
©©O©
to
©
0 W©
©H-1 © 0
I—
tO COtO ©
b
©» \
o®
0»
MM 'S
I 91^:
I 9.^® ®HJ®
©
o'
1^© ©
I ©_
9 ►
to o ©
,00
ko
x
I ®©»S
i 9 «;
‘ JD
h*?
*© © © O ®
-4 to
OU
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Th, Fri.
4l5le
5
5!3ie 5%
614 63,ß
6 I3
67,6
615,6 S78
Th. Fri.
5k
514
514
53,6
6lie 6 1,« 6*16 6
6 is
6 716
6k
6is
6%
6% 6 U ,6
6k
7», « 7 3 ,« 7 3 ,« 7k
Tues Wed Th. Fri
STAINED.
453
45a 4®8 45a 48.6
Low Middling.................
4^16
578 513,6 513,6 513,6 513,6 5k
Middling..........................
63,2 6132 6i82 6 I32 6 I32 S3! gg
Strict Middling..............
65. ß
63.6
6 I4
6 k
6k
6 I4
Good Middling Tinged.
The quotations for middling upland at New York on
March 11 for each of the past 32 years have been as follows.
1 8 8 2 .. ..C.1 2 ila 1 8 7 4 .. ..0 .1 6 k
1 8 9 8 ..
..c. 63,e1 8- 9 0 .. . . e . l l k
55ie
6 *e
6»16
6 i«ie
7k
Sat.
Good Ordinary.
Low Middling.. Middling............ .
Good Middling..
Middling Fair...
OOô m o
g " to 0 5 ®
© I'
©©
©O
©
©
05
©. <
On this basis the official prices for a few of the grades for
he past week—March 5 to March 11—would be as follows.
Good Ordinary.
Low Middling...
Middling............
-Good Middling..
Middling Fair...
w05
►
—©
M
•0O
» œ©p
® ' M®’
s» ©or*
Av’ge
Good Ordinary................. c.
Good Middling Tinged.......
Strict Middling Stained___
Middling Stained.................
Strict Low Mid. Stained...
Low Middling Stained.......
05
O M
g -J050 gl ifo» Ô.FZL
P. ^ a H if“-®
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C*
6’08
6 07
Speculation in cotton for future delivery has been quiet
and there has been a slight weakening in prices, as political
developments both abroad and at home have had an unfavor
able influence. Saturday there was a slight advance in
prices on limited buying, largely by local shorts to cover con
tracts. Monday there was an easier tone to the market theresult of disappointing advices from Liverpool and on develop
ments in the Auglo-Russian-Chinese situation prices declined
a few points for the day. Tuesday the market was easier
during early ’ Change, as there was some selling for foreign
-account. Subsequently, however, local shorts bought to
cover contracts and prices advanced, showing a small net gain
for the day. Wednesday prices advanced a few points early
in the day, reflecting stronger foreign advices, but as news
received from the Southern spot markets reported free
offerings of cotton at slightly lower prices in some
instances and with the demand almost exclusively
to fill old contracts, there developed an easier tone
and prices reacted. Thursday there was a quiet and easier
market. Foreign advices were weaker, and developments in
the political situation in Europe had an unfavorable influ
ence. To-day there was considerable pressure to sell, largely
for the account of W all Street longs, and prices declined.
Southern advices, reporting quiet'and easier markets, also had
a depressing influence. Toe close was steady at a decline of
6 @ 8 points for the day. The spot market has been dull, and
to-day prices were lowered l-16c., closing easy at 6 3-16c. for
middling uplands.
The rates on and off middling, as established Nov. 17,1897,
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows.
Io n
Fair.......................................o.
Middling Fair..........................Hie on
Strict Good Middling....... .. % on
Good Middling....................... k o n
Strict Low Middling............ 316 off
Low Middling........................ 7ie off
-Strict Good Ordinary........... k off
!3E|
are
07 07 O 07
M p l® M
00© ©
►I
4 I «H
©
§
©
si
I9
S
>
1 iOK
19; ?
* Includes sa’es in Septem her, for September, 84.900; SeptemberOetober, for October, 375,200; September-November, for November,
818,100; September-December, for December. 1,181,400; SeptemberJanfiary, for January, 3,979,600; September-February, for February,
161,300.
The fo llo w in g exchanges have been made during the week :
•05 prt. to exob. 300 June for Aug. *05 pd. to exoh. 100 Nov. for Aug.
•06 pd. to exeb. 1,700 May for Aug. '05 pd. to exeb. 600 May for Aug.
•07 pd. to. exob. 700 May for Aug. *01 pd. to exob. 500 May for Oct.
•12 pd. t o exoh. 300 Mob. for Aug. ’06 pd. to exob. 500 J une for Aug.
Even 300 Oct. for Deo.
'04 pd. to exeb. 400 Moh. for May.
Even 100 May for June
-03 pd. to exob. 200 Mcb. for May.
•06 pd. to exob. 300 Mob. for May. ’06 pd. to exeb. 300 May for Aug.
T h e V is ib l e S u p p l y o f C o tto n to-night, as made up by
cable and telegraph is as follows. Continental stocks, as well
629 600 as those for Great Britain and the afloat are this week’s re-
THE
M arch 12, 1S98. |
CHRONICLE.
33
’turns and consequently all European figures are brought down bales m ore than at the same period last year. The receipts at
to Thursday evening. But to make the total the complete all the towns have been 46,935 bales m ore than the same
'figures for to night (Mch. 11), we add the item o f exports from week last year, and since Sept. 1 they are 1,444,528 bale3 m o r e
"the United States including in it the exports o f Friday only.
than for the same time in 1896-97.
1898.
1897.
1896.
1895.
Quotations for Middling Cotton at Other Markets.—
8 took at Liverpool.......bales. 1,211,000 1,383,000 1,158,000 1,834.000
3,000
4,000
6,000
6,000 Below are closing quotations o f middling cotton at Southern
Btock at London........... ... ........
Total Great Britain stock. 1,214,000 1,387,000 1,164,000 1,840,000 and other principal cotton markets for each day o f the week.
lftlr at
at. Hamburg.........9,000
R Ta m h n iw v
#
Q firtfi
I19.000
Q Qflfk
Oft
AAA
o n AAA
Stock
26,000
30.000
Stock at B r e m e n ......__ . . . . .
339,000 192.000 253.000 354.000
6,000
Stock at A m s te r d a m .,.... . . .
3,000
9.000
20.000
Stock at Rotterdam. . . . . . . . . .
300
300
200
200
11.000
Stock at A n t w e r p .............
7,000
14.000
10,000
Stock at H a v r e . . . . . . . . . . . . . . . . 289,000 218.000 296.000 518.000
5,000
Stock at M arseilles...............
4,000
7.000
5,000
Stock at B arcelon a............ .
76,000
68,000
78.000
93.000
37,000
Stock at G e n o a ....................
5 4,000
76.000
35.000
Stock at Trieste......... ........................ 4,000
13,000
24.000
_____________________14,000
Total Continental stocks.. ' 768,300 536,300 783,200
-J H ________
1,079,200
Total European stock s..,. 1,982,300 1 ^ 7 3 ,30 0 1,947,200 2 919 200
India cotton afloat for Europe
62,000 130,000 168,000 ’ 55*000
■ ’
Amer.cottonafloatfor Europe 578,000 BH|
334,000 -----------322,000 341,000
Egypt,Brazil,&c.,aflt.for E’pe
56,000
56,000
35,000
41,000
Stock in United States ports . 1,128,481 814,326 737,393 979,625
Stock In U. S. interior towns.. 459,136 323,319 362,634 353,976
United States exports to-day.
20,980
24,418
27,700
11,427
Total visible suDpls . . . . . . 4,286,897,3,655,363 3,599,927 47701,228
■Of the above, totals or à. merlean and other descriptions are as foUows:
A m erican —
Liverpool stock.s . . ... .b a l e s . 1,090,000 1,211,000 970.000 1,697,000
734,000 514,000 683.000 999,000
Continental stooxs................
American afloat for Europe.. 578,000 334,000 322.000 341,000
United States stock.................. 1,128,481 814,326 737,393 979,625
United States interior stocks. 459,136 323,319 362,637 353,976
UnitedStates exports to-day.___ 20,980 __24,418
27,700
11,427
Total American....... .........4,010,597 3,221,063 3,102,730 4,382 028
E ast In d ia n , B ra zil, die.—
Liverpool stock............ ........... 121,000
172,000 188,000 137,000
London stock.............................
3,000
4,000
6,000
6,000
Continental stooks................
34,300
72,300 100,200
80,200
India afloat for Europe...........
62,000
130,000 168,000
55.000
®gypt, Brazil, &c., afloat.......
56,000
56,000
35,000
41.000
Total East India, &o......... 276,300 434,300 497,200 319 200
Total Amerioan...................4,010,597 3,221,063 3,102,730 4,382,028
Total visible supply......... 4,286,897 3,655,363 3,599,930 4.70L228
In lin e r TTrtiQ.'nn
T .lw o n n A A l
o ir .
a
Middling
Upland, Liverpool..
33sd.
315] ed.
43sd. 7 nA
33jea.
’Middling Upland, New York.
6316o .
7140.
7 n i eo.
6ii«e.
Egypt Good Brown, Liverpool
4®i«d.
55led.
6kd.
5146.
Peruv.Rough Good, Liverpool
6 7sd.
63j ed.
63sd.
5kcl.
Breach Fine, Liverpool......... .
3kd .
3i5i6d.
4318d.
331ed.
Tlnnevelly Good, Liverpool..
3®8d.
33i82d.
43ied.
Slid.
Imports into Continental ports past week 68,000 bales.
The above figures indicate an in c rea se m the cotton in sight
to-night of 631,534 bales as compared with the same date
o f 1897, a gain o f 686,957 bales over the corresponding date
o f 1896 and a decrease o f 414,331 bales from 1895.
A t the I nterior Towns the movement—that is the receipts
tfor the week and since September 1, the shipments for the
week and the stocks to-night, and the same items for the
corresponding period o f 1896-97—is set out in detail below.
Week end ing
M arch 11.
CLOSING QUOTATIONS POR MIDDLING- COTTON ON__
8 a,tur.
Galveston. .
New Orleans
Mobile.........
Savannah. .
Charleston..
Wilmington.
Norfolk.......
Boston.........
Baltimore...
Philadelphia
Augusta.......
M emphis....
St. L o u is....
Houston. . . .
Cincinnati..
Louisville...
6
5%
5*8
5%
5%
6
6
6516
6k
6ölß
6k
5 1 3 .6
5 1 3 .6
6
6
5 7S
Mon.
Tues.
6
5%
6
5%
Ki?16
et1!8
53t
6
6
614
6ia
61^
61,6
5%
513,6
6
6
57s
57$
6uie
5:%
6
6
65,6
6Lj
£Î16
513,6
513,6
6
6
578
Wednes. Thun.
6
53,
513,6
5Hi6
5%
57a
6
6k
6k
6k
^iie
5%
513,6
6
6
57s
6
511,0
513,6
K-
578
6
6k
6k
6k
6lta
5k
513,0
6
6
57s
Fri.
6
5k
5k
Sille
5k
57s
6
6k
6k
67,0
6®6i,0
5k
6
6
57s
Southern markets were as follows.
5k
Nashville. . . . . .
S^s
5 ?«
N a t c h e z ....... 513
57?« Raleigh............
5 7a
5 78 _____
Shreveport..... 55ie
Overland Movement for the W eek and Since Sept. 1.—
Athens..............
A tlanta. . . . . . . .
Charlotte.........
Columbus. Ga.
6
I Columbus, Miss
5i3la |Eufaula.. . . . . . .
6% I Little R o o k ....
5 7s I Montgomery...
®
below & statement showing th6 ovorland mov6in6nt
for the week and since Sept. 1, as made up from telegraphic
reports Friday night. The results for the week ending
Mch. 11 and since Sept. 1 in the last two years are as follows.
1897-98.
M arch 11.
Week.
shipped—
Via St. Lonls..............
Via Cairo...............
Via Parker..................
Via Rock Is la n d ......
Via L ou isv ille.... ....
Via Cincinnati............
Via other routes, ¿ 0.
18,479
11,334
1,814
620
3,433
5,328
2,864
Total gross overland..............
Deduct shipm ents—
Overland to N. Y ., boston, <feo.
Between interior t o w n s ........
Inland, &o., from South............
733,059
308,308
26,721
42,315
100,275
109,123
125,033
43,872 1,444,834
1896-97.
Week.
9,164
2,575
378
100
894
3,471
1,037
Since
Sept. 1.
445,958
236,055
14,381
12,987
117,386
117,611
93,215
17,619 1,039,593
8,420
498
1,026
371,042
21,321
30,554
3,6.64
138
1,041
9,944
422,917
4,843
306,006
33,928 1,021,917
12,776
733,587
Totalto be deduoted.. . . . . . . . .
Leaving total net overland*..
Since
Sept. 1.
274,290
3,453
28,263
The foregoing shows that the week’s net overland movemen
this year has been 33,928 bales, against 12,776 bales for t i e
WGek in 1897, and that for th© season to date the aggregate nc t
overland exhibits an increase over a year ago of 288,330 bales.
IS
I*
f*i
g g
2g|
B eg
l .5 5 S
. .5 .Sig lg a
l
-. .« J
•>» J J 8; . g- S O
: s
!• onSw
ScS
! S
g fe a
In Sight a n d Spinners'
T akin gs.
CO
hs
®
l-l
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......
1-1
OD
JO
JR
to
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CO M
i-H‘ ^Mwcc.oo»ootooccl-i-K)o>rooSoSo” !g^coaco“ g5gg
Came into sight daring week. 175,441
Total in sight Moh. 11..............
9,720,375
&
>.®r.w ö P W«B MS SS .SSÇSS 5 <. 8
fs »
w «0 -a to <1 w i o w l q i o w
m
â »^
66.050 1,818,958
r kd »
* Decrease during week.
<1
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C 0 0 1 C 0 0 1 iR ® tS C 0 iR O 01 CO W RODO» R <1 CO O CO
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to01
* Last year's figures are for Columbia, S. C.
l i
So
èOh
w
1896-97.
Week.
Since
Sept, 1.
79,931 6,115,406
12,776 733,587
19j000 566,000
Total marketed...................... 205,149 9,306,315 111,707 7,414,993
Interior stooks in e x c e s s .....___ *29,708 414,060 *26,808 202,725
O C o lo m ' o '.B. KO(Y)
...
Wise*:,
Since
Sept. 1.
Receipts at ports to Moh. 11
150,221 7,669,398
Net overland to Mch. 1 1 ................ 33,928 1,021,917
Southern consumption to M ch.ll 21,000 615,000
• • ; î i F: ; :g : : ; : : !
{
1897-98.
w
S
A
£
M g
03
84,899
7,6^7,718
35,137 1,336,247
W e a t h e r R e p o r t s b y T e l e g r a p h .— Our telegraphic re
ports from the South this evening indicate that dry weather
has prevailed in most districts o f the South, during the week
and that the temperature has as a rule been favorable. As a
result farm operations have made good progress in manv
localities.
J
G alveston, T exas.—Threatening and showery weather pre
vails generally over Texas to-day. We have had rain on one
day of the week, the precipitation being thirty-four hun
dredths of an inch. The thermometer has averaged 56, thè
highest being 69 and the lowest 44.
P alestin e, T ex a s.—Rain has fallen on one day of the week,
the precipitation reaching two hundredths of an inch. The
thermometer has^averaged 50, ranging from 32 to 63.
C orpus C hristi, T ex as.—W e have had no rain the past
week. The thermometer has averaged 55, the highest being
70 and the lowest 40.
S an A n ton io, T exas.—I t has been dry all the week. Mini
mum temperature 34. '
New Orleans, L o u is ia n a .—It has been dry all the week
The thermometer has averaged 57.
S hreveport, L o u is ia n a .—There has been rain on one day of
the past week, the rainfall being twelve hundredths of an
inch. The thermometer has averaged 53, ranging from 34
to 72*
m
Colum bus, M ississippi.—Farm operations tre Dro°ressing
The above totals show that the interior stocks have finely. There has been no rain during the week, The ther
d ec r ea se d during the week 29,708 bales, and are to-night 135,817 mometer has ranged from 45 to 80, averaging 60
THE
5 3 *
CERONI CI E
L elan d , M ississippi.—No rain the past week. The ther
mometer has averaged 49-4, ranging from 30 to 75.
Vicksburg, M ississippi.—W e have had no rain during the
week. The thermometer has averaged 57, the highest being
72 and the lowest 37.
G reenville, M ississip p i.—The weather is warm and sultry,
with indications of ram.
L ittle R ock, A rk a n sa s —W e have had but a trace of rain
the past week. The thermometer has averaged 52, ranging
from 29 to 72.
H elen a, A rk a n sa s.—Ploughing is under way. Picking is
still in progress. The weather has been warm and there has
been no rain. The thermometer has ranged from 31 to 68,,
averaging 51 •5.
JNflKSj»
M em phis, Tennessee.—Farm preparations are active. W e
have had dry weather all the week. Average thermometer
52*8, highest 70 and lowest 30.
N ashville, Tennessee.—Dry weather has prevailed all the
week. The highest temperature has been 64.
M obile, A la b a m a .—Planting preparations are making good
progress. It has rained on one day of the week, the precipi
tation reaching three hundredths of an inch. The thermom
eter has averaged 54, longing from 35 to 70.
M ontgom ery, A lo b a m a .—Farmers are well advanced with
preparations o f land. Pain has fallen on one day of the
week, the precipitation being seventeen hundredths of an
inch. The thermometer has ranged from 33 to 71, averaging 53.
S elm a, A la b a m a .—There has been no rain durirgthe week.
Average thermometer 52, highest 72 and lowest 30.
M adison, F lo r id a .—W e have had rain on two days o f the
week, the rainfall reaching one inch and twenty hundredths.
The thermometer has averaged 59, the highest being 71 and
the lowest 41.
S av an n ah , G eorg ia.—W e have had rain on three days of
the week, the precipitation reaching thirty-one hundredths
o f an inch. The thermometer has ranged from 41 to 69,
averaging 52.
A ugusta, Georg ¿a.—There has been rain on one day, the
precipitation reaching one inch and nine hundredths. Aver
age thermometer 53, highest 70 and lowest 35.
S tatebu rg, South C a ro lin a .—It has rained on three days of
the week, the precipitation reaching one inch and forty hun
dredths. The thermometer has averaged 49, ranging from
34 to 69.
G reenw ood, SSuth C arolin a.—W e have had no rain the past
week. The thermometer has ranged from 38 to 57, averag
ing 47,
l harleston , South C arolin a.—W e have had rain on three
days of the week, the rainfall reaching one inch and fivs
hundredths. The thermometer has averaged 50, the higheet
being 63 and the lowest 40.
W ilson, N orth C a ro lin a .—Telegram not received.
The follow ing statement we have also received by telegraph,
showing the height o f the rivers at the points named at
3 o’clock March 10, 1898, and March 11, 1897.
[V ol. IiX\ l.
N ew E ngland Cotton M ill Steike Situation.—The
strike of cotton mill operativts in Biddeford, Maine, ter
minated on Monday last, March 7, when all the hands re
turned to work at the rednced wage scale. The King Philip
Mills at Fall River also resumed operations in full on the
same date. A t New Bedford the situation is practically un
changed.
Eubopean Cotton Consumption to March 1.—W e have
received to-day (Friday) by cable Mr. Ellison’s figures brought
down to March 1. W e have also received the revised totals
for last year and give them for comparison. The spinners’
takings in a ctu a l bales and pounds have been as follows:
October 1 to M arch 1.
Qreat B ritain.
Continent.
Total.
F o r 1 8 9 7 -9 8 .
Takings by spinners...bales
Average weight of bales.lbs
Takings In pounds.................
1,537,000
2,173,000
3,710,000
507
496
500* 1
779,259,000 1,077,808,000 1,857,067,000
F o r 1 8 9 6 -9 7 .
Takings by spinners...bales
Average weight of bales.lbs.
Takings In pounds.................
1,501,000
503
755.204.ono
1,997,000
3,498,000
485
492*8
968,632.000 1,723,836,000
According to the above, the average weight of the deliveries
in Qreat Britain is 507 pounds per bale this season, against
503 pounds during the same time last seasoa. The Continental
deliveries average 496 pounds, against 485 pounds last year,,
and for the whole of Eurooe the deliveries average*500'1
pounds per bale against 492*8 pounds last season. Our
dispatch also gives the fud movement for this year and last
year in bales of 500 pounds.
Oct. 1 to M arch 1.
Bales o j 500 lbs. each,
000s omitted
1897-98.
Total
Conti
nent.
256.
2,156
287.
3,715
24,
1,510
277.
301,
1,937, 3,447,
2,412,
1,780,
4,002,
3,124
1,534,
1,344,
2,214. 3,748,
1,738, 3,082,
Conti
nent.
31,
1,559,
Supply.......... . .........
1,590,
lonsnmpt’n ,2 i weeks 1,344.
Spinners’ stock Oct. 1
Takings to M a rc h i..
1896-97.
Great
Rritatt’
Great
Britain
Spinners’ stock Moh.l
246
632
878,
190
Weekly Consumption.
00 s omitted.
In October .............
In November..........
In December.........
In January..............
in Fohi-tiRrv
64,0
64,0
64,0
64,0
64 0
84,0
84,0
84,0
86,0
86 0
148,0
148,0
148,0
1&0,0
150.0
64,0
64,0
64,0
64,0
64,0
476,
82,0
82,0
82,0
84,0
84.0
Tota*
666,
146,0
146,0
146,0
148,0
148.0
The foregoing shows that the weekly consumption is now
150,000 bales of 500 pounds each, against 148,000 bales of like
weights at the corresponding time last year. The total
spinners’ stocks in Great Britain and on the Continent have
increased 149,000 bales during the month, and are now 212,000
Mch. 10, ’98. Mch. 11, ’97. bales more tnan at the same date last season.
Feet.
Feet.
S ea Island Cotton Movement.— We have received thi
New Ori* ans.......
10 2
12*7
(Friday) evening by telegraph from the various ports the
Memphis............
13 2
340
4'7
NasbvIF e..............
details of the Sea Island cotton movement for the week. The
29*9
Shreveport______
31
4*8
receipts for the week ending to-night (March 11) and since
V*
bure............
25*2
38*4
Sept, 1,1897, the stocks to-night, and the same items for the
corresoondin» periods of 1896-97. tu*e up follows.
A lexandria R eceipts and Shipments of Cotton.—
Through arrangements we made with Messrs. Davis, Benachi
1897-98.
Stoca
1896-97
& Co., of Liverpool and Alexandria, we now receive a weekly
Receipts to M arch 11.
This
Since
This
Since
cable of thè movements of cotton at Alexandria, Egypt. The
week. Sept. 1. week. Sept. 1. 1898 1897.
following are the receipts and shipments for the past week
247 55,968 . 625 81,164 15,791 16,484
and for the corresponding week of the previous two years.
Charleston, <feo....... .
A lexan d ria , E gypt,
M arch 9.
1897-98.
1896-97.
Total.............................
Beoeipts (oantars*)___
This week....... ...........
Since S e p t.l..............
175.000
5.919.000
Since
This
week. Sept. 1.
70,000
5,161,000
This
Since
week. Sept. 1.
85,000
4,941,000
This
Sinct
week. Sept. 1.
Exports (bales)—
To Liverpool. . . . . . . . 10.000 272.000 2,000 263.000 2,000 276.000
To Continent!. . . . . . . 13,000 273.000 23,000 251.000 13,000 238.000
T otal Europe.. . . . . 23.000 545.000 25,000 514,000 15,000 514,000
* A cantal is as pounds.
fOfw hioh to Américain 1897-98,32,486 bales; In 1896-97, 38,149
bales; in 1895-96, 45,747 bales.
Manchester Market .—Our report received by cable
to-night from Manchester states that the market is steady
for yarns and dull for shirtings. Merchants are not w illing
to pay present prices. W e give the prices for to-day below
and leave those for previous weeks o f this and last year for
comparison.
1898.
1897.
8*4 lbs. Shirt OotVn
84* lbs. Shirt
32s Cop. in gs, common M id. 32s Cop. in gs, common Coten
Mid.
Twist.
Twist.
Feb. 4
“ 11
*• 18
« 25
Moh.4
“ 11
A.
d. s.
5®8 @ 6®8 1
5% ® 6 % 4
5Ui6® 6 % 4
53t ®61316 4
Sp-ifc-O-Sig 4
5% M63, 4
to fin est.
d. s. d
1 96 7^
Insite 8*2
lia ®6 8 »a
2 ®6 9
2 ®6 9
2
9
TTplds
d.
A.
A. s.
3732 6 1* V I H 4
4
31132 61« ® 7
3D32 6*8 ® 7 4
3716 63,a ®7i8 4
37,6 64* ®7316 4
33r 6*4 973,fl 4
6
9,745
6,349
56
95
253
72,062
776
1895-96
to fin est.
d.
s. d.
1 ®6 7
04g®6 6
0 ® 6 5*2
0ifl®6 6
1 ®6 7
0*a®6 .7
Uplds
A.
33I32
32733
378
4
329fla
31516
10,293
6,586
3,869
2,711
3,298
4,271
98,043 22,371 24,048
The exports for the week ending this evening reach a total
o f ----- bales, of which ------bales were to Great Britain, —
to France and — to Reval, and the amount forwarded to
Northern mills has been 707 bales. Below are the exports
for the week and since September 1 in 1897-98 and 1896-97.
E xports
from —
Week E nding Mch. 11 Since Sept. 1 ,1 8 9 7 .
North’ n M ills,
Great F r’ nee _ ■ , Great F r’nee _ J ,
B rit’n. <êe.
Total. B rit’n. d e.
Total.
_ .
Since
Week, s e p t.l.
Savannah...
Uharl’t’n,<feo
Florida, &o.
New York..
Boston. . . . .
Balt., A c—
Total........
Total1896-7
1,168
336
12,205
4,529
1,725
4,889
262
3,234 15,439
4,529
1,725
3,028 7,917
262
200
"200
707 19,55©
1,243
6,149-
23,610
6,462 30,072
707 26,948
1,504 36,599
8,492 45,091
676 31^876-
Quotations March 11 at Savannah, for Floridas, common,.
9% c.; medium tine, 10c.; choice, 18^c.
Charleston, Carolinas. medium fine, 15% to 16c.; fine, 17c.;
fully fine, 19 to 20c.; extra fine, 26 to 33c.
Jute B utts,^ B agging , & c,—There has been practically
nothing doing in jute bagging during the week under review
and prices are nominally unchanged at 4% c. for l% c lbs., 5c.
for 2 lbs. and 5% c. for 2% lbs. The market for jute butts
continues very quiet. Quotations are *80c. for paper quality,
lj^c. for mixing and l% Q l% c . for spinning cuttings, t o
arrive.
M arch 12, 1898.J
THE CHRONICLE
• R u s s ia n C o t t o n .’— Recently-issued reports on the Russian
cotton crop indicate that area was considerably extended ir
Turkestan, Khiva and Buchara in 1896, and that while the
yield per acre was not so great as in the previous season, the
aggregate production increased. According to the same reports, the deliveries of Central Asian cotton in European
Russia via the Trans-Caspian Railway were 4,294,191 poods
in 1896-97 (Oct. 1 to Sept. 30), against 3,475,392 poods in the
preceding year and 3,161,843 poods in 1894-95. Reducing
these flgur.es to American weights would give us 309,182
bales of 500 lbs. each for 1896-97, against 250,228 bales and
227,653 bales respectively in the two previous seasons.
Shipping . News .—As shown on a previous page, the
exports of cotton from the United States the past week have
reached 179,s62 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
536
Cotton freights at New York the past week have been
as follows.
Satur.
Mon.
Tues.
Wednes. Thürs.
F ri.
Liverpool, asked.d.
231
231
23t
23t
231
231
Havre................ ..c . 3 0 »3 2 t 30® 321 30®32i 303*321 303)321 303*321
Bremen............. .d.
301
30
30
301
30
301
H a m b u rg ..... .d.
301
30
30<
30'
301
30t
Amsterdam___ ..e. 28@30t 283)301 283)301 28 ® 301 28 3>301 28 ® 301
Reval, V. Hamb.tZ.
461
46
461
461
461
46t
Do V. Hull.. .d.
401
40t
40i
40t
401
401
Rotterdam....... .d. 283)301 289301 28 »301 289301 283)301 283*301
Genoa................ .d.
401
40f
40t
401
40t
40t
Trieste................ .d.
1364
1S64
1364
136<
1364
1S64
Antwerp............ .d.
^8
*8
*8
*8
*8
53„
Ghent,v.Antw’p.d.
2
5S2
6S2
5*2
532
t Cents net per 100 lbs.
L iverpool .—By cable from Liverpool we have the follow
H Ph
in g statement o f the week’s sales, stocks, & c., at that port.
N e w Y o r k —T o Liverpool, per steamers Canning, 5,016___
Cuiio, 1,824.....................................................* ........................... 6,840
To Hull, per steamer Buffalo, 881................................ ...... . . . .
881
Feb. 18. Feb. 25.
Mch. 4. Mch. 11.
To Havre, per steamers Ceylon, 2,367___La Gascogne, 460 2,827
To Bremen, per steamers Havel, 200___ Trave (additional),
Sales of the week...........hales.
56.000
60,000
69.000
61,000
1 99............................................... ........................ .....................
399
Of which exporters to ok ...
3,500
500
1,600
1,700
To Hamburg, per steamer Pretoria. 8 5 0 ..................................
850
Of which speculators took.
1,000
1,000
1,300
200
To Rotterdam, per steamer Rotterdam, 328...........
.........
328 8a es Amerioau........................
52.000
56.000
63.000
57.000
To Antwerp, per steamers Friesland, 100___ St. Cuthbert,
■Aotua export............................
7,000
4,000
8,000
14.000
7 7 5 ..
. . . . . . . . . . . . ................... ............................................................................................................................................
875 Forwarded.................................
73.000
69.000
84.000
80.000
To Naples, per steamer Saale. 5 96 ....... 5....................................
596 Total stock—Estimated.......... 1,168,000 1,179,000 1,203,000 1,211,000
To Trieste, per steamers Pocahontas, 279___ Pontiac, 2 0 0 ..
479
Of whioh American—Estm’d 1,043,000 L,051,000 •,077,000 1,090,000
To Venice, per steamers Pocahontas, 360___ Pontiac, 8 8 7 ..
1,247 Total import of the w eek .. . . .
109.000
83.000 117.000 102,000
To Japan, per steamer Craigearn, 6 9 4 ... .............. ...................
694
Of whioh American..............
96.000
72.000 100.000
97,000
N e w Orleans—To Liverpool—March 5—Steamer Orion, 6,488
Amount afloat.........................
246.000 242.000 202,000 172.000
___ March 9 —Steamer Craftsman, 11,750___ March 1 0 Of whioh American..............
244.000 240.000 200,000 170.000
Steamer American, 15,460
March 11—Steamer Nicar
aguan, 2,000..................... ............ ................... .............j ........... 35,698
The tone o f the Liverpool market for spots and futures
To London—March 5—Steamer Cayo Mona, 6 0 0 .. . . . ............
600 each day o f the week ending March 11 and the daily closin g
To Manchester—March 7 - Steamer Salopia, 3,604.................
3,604
prices
of spot cotton, have been as follows.
To Belfast—March 7—Steamer Ramore Head, 1,596............
1,596
To Havre—March 10—Steamer Wistow Hall, 8,550...............
8.550
To Dunkirk - March 5 —Steamer Euro pa, 2,517__ . . . . ______ 2,517
Spot.
SaVday. M onday. Tuesday. Wed'day. Thursd’y F rid a y.
To Marseilles—March 7—Steamer Europa, 800....... ..............
800
To Bremen—March 8 - Steamer Crest, 4,92 8 ....... ......... .......... 4,928
Fair
Fair
M a rk e t, ) Moderate
To Hamburg—March 5—Steamer Murcia. 4 0 0 ........................
400 1:45 F. M. ( demand. Steady.
Easier.
business business
Quiet.
To Rotterdam—March 8—Steamer Rimpha, 2 00 ................... .•
200
doing.
doing.
To Antwerp—March 4—Steamer Toledo. 800.................. ........
800
3716
31332
To Copenhagen-March 8 —Steamer Alexandra, 2,231......... 2,231 M id . U p l’ ds.
31832
3be
313g2
338
To Genoa—March 4 - Steamer Finsbury, 4,500___ March 5 —
8,000
10,000
8,000
10,000
12,000
10,000
Steamer Persian Prince, 2,282................................................. 6.782
500
500
500
1,000
' 1,000
500
To Japan—March 5—Steamer tndrani, 8,700.......................... 8,700 S p e c. & e x p .
G alveston —To Liverpool—March 10—steamer Polycarp, 3,803 3,«03
Futures.
To Bremen—March 8—Steamer Germania, 5,909...................
5,909
Quiet at Steady at Quiet at
Quiet at
Quiet at
To Vera Cruz—March 11—steamer Helios, 1,284......... ......... 1,284
M a rk e t, ( partially
partially
1-64 de
Steady. 1-64 ® 2-64 1-64 6» 2-64
Sabine Pass —To Rotterdam—March 8—Steamer Leonora, 500
500 1:45 p. M. \ 1-64 dee. 1-64 adv.
clin e.
decline.
decline.
T exas Cit y , & c.—To Mexico, per railroad, 2 61 .............................
261
M obile —To Bremen—March 8—Steamer Rockcliff, 6,161........... 6,161
M a rk e t, \ Quiet.
W
eak.
Steady.
To Japan—March 5—Steamer Oak Branch, 700......................
Steady.
Quiet.
700
Steady.
4. P. M. (
P ensacola —To Liverpool—March 8*—Steamer Serra, 2,100___
2,100
Savannah —To Bremen—March 5 —Steamer Drot, 8 ,58 0 ___
The prices o f futures at Liverpool for each day are given
March 7 - Steamer Hindostán, 4,440,.................................
13,230
To Hamburg -March 7 - Steamer Hindostán, 9 0 0 .............. &
900 below. Prices are on the basis o f Uplands, Low M iddling
To Reval—March 11—Steamer Glenmorven, 5,725................ 5,725 clause, unless otherwise stated.
To Gefle—March 5 —Bark Waimea, 2,550........................
2.550
To Nykoping-March 5 —Bark Sunniva, 1,900......................... 1,900
S a t.
M on.
To Genoa—March 9 —Steamer Homewood, 5,440____
.
T u es.
W ed. T h ars.
5,440
F r i.
M arch 5 to
B runswick —To Liverpool-March 7—Steamer Madrileño.
M
arch
11.
1
6,800............................................................................................... ’
1:45
4 1:45 4 1:45 4
12^2
4 1:45 4
6,800
P.M. P. M. P. M. P.M. P. M. P.M. P. M. P.M.
Charleston —To Bremen—March 9—Steamer Wm, Balls, 6,824 6,824
P.M. P. M. P.M.
To St. Petersburg—March 4 -B a rk Frithjof, 1,707................ 1,707
------1
d.
d.
d.
d.
d.
P ort R oyal —To -------------March 9—Steam er------------, 500 ........
d.
d.
d.
d.
d.
d.
500
d.
March........... 3 24 3 24 3 24 3 22 3 21 3 22 3 22 3 23 3 22 3 21 3 20 3 21
W ilmington —To Gothenburg—March 8—Steamer Roseneath,
3,650 ............................................................................................. . 3,650 Meh.-April.. 3 21 3 24 3 24 3 22 3 21 3 22 3 22 3 23 3 22 3 21 3 20 3 20
To Ghent—March 10 - steamer Schiehallion. 3 ,8 6 7 ..........
3,867 April-May... 3 2 1 3 24 3 24 3 22 3 21 3 22 3 22 3 23 3 22 3 22 3 20 3 20
May-June... 3 24 3 24 3 24 3 22 3 21 3 22 3 22 3 24 3 22 3 22 3 21 3 21
N orfolk —To Liverpool—March 9—Steamer Pinner’s Point.
2,500................................................................................
’ 2,500 June-July... 3 21 3 25 3 24 3 23 3 21 3 22 3 22 3 24 3 23 3'22 3 21 3 21
To Hamburg—March 4—Steamer North Flint, Í00..'
100 July-Aug. . . 3 24 3 24 3 25 3 23 3 21 3 22 3 22 3 24 3 23 3 22 3 21 3 21
Aug.-Sept... 3 24 3 24 3 24 3 23 3 21 3 22 3 22 3 24 3 22 3 22 3 21 3 21
N ew port N bw s —To Liverpool—March 5—Steamer Shenan
doah, 9 9 2 . . . . ....... .
...............................................
992 8ept.-Oot.... 3 24 3 24 3 24 3 22 3 21 3 22 3 22 3 23 3 22 3 22 3 21 3 21
Oet.-Nov___ 3 23 3 24 3 23 3 22 3 21 3 22 3 21 3 23 3 22 3 21 3 20 3 21
B oston—To Liverpool—March 1—Steamer Philadelphian,’ 5Ó
Noy-.Deo. .. 3 23 3 23 3 23 3 22 3 21 3 21 3 21 3 23 3 21 3 21 3 20 3 20
....... March 2—Steamer Corinthia. 1,274........March 4—
Beo.-Jan___ 3 23 3 23 3 23 3 22 3 21 3 21 3 21 3 23 3 21 3 21 3 20 3 20
Steamer Roman, 7 7 1 .......March 7—Steamer Sagamore,
Jan.-Feb___
2,314
B altimore —To Liverpool—March 9—Steamer" Templemore,
491....................................................................
491
To Bremen—March 9—Steamer Willehad, i ,2 8 6 * "I I I !-- ---1,286
To Rotterdam—March 4—Steamer Patapsoo, 4 90.. . .
490
To Antwerp—March 3 —Steamer Scottish King, 4 9 .. ..
49
F r i d a y , March 11, 1898.
P hiladelphia —To Liverpool—March 3—Steamer Belgenland,
4 0 7 ..
................................ j ...................... .......... ... ..........'
Only a very moderate volume of business has been trans
407
S eattle —To Japan—Feb. 27—Steamer Riojun Maru (addi
acted in the market for wheat flour. The demand from the
tional), 4,000..................................................................................
4,000
BREADSTUFFS.
Total.................................................................................................... 179,862
N o t e . —In last week’s exports steamer Vivina, from Pensacola, sailed
for Liverpool, not Japan.
The particulars of the foregoing shipments, arranged in
our usual form, are as follows.
Great .F rench Ger- ,—Oth.E’rope—s Mexico,
B rit'n. ports. m an y. North. South.
(ÜC. Japan.
New York. 7,721 2,827 1,249 1,203 2,322
694
N. Orleans. 41,498 11,867 5,328 3,231 6,782
Galveston. ?,803
5,909
1,284
Sab. P.,&c. ......... ....... .
500
261
_____
Mobile.......
6,161
700
Pensacola. 2,100 . . . . . . . . . . . . . . . . . .
Savannah.. _____
14,130 10,175 5,440
__
Brunswick 6,800
Charleston ____ _ _____ 6,824 1,707
_____
Port Royal
500
Wilmingt’n . . . . . .
7,517
Norfolk. .. 2,500
100
N’p’t News
992
Boston___
2,314 •--r
Baltimore.
491
539
1,286
Philadelp’ä
407 . . . . . . ............. ............ ......... . . . . . .
Seattle.......
4,000
Total.
16.016
77,406
10,996
761
6,861
2,100
29,745
6,800
8,531
500
7,517
2,600
992
2,314
2,316
407
4,000
Total.... 68,626 14,694 34,826 31,533 14,544 1,545 14,094 179,862
To Japan since September 1 shipments have been 84,689
bales from Pacific Coast, 8,700 from New Orleans, 8,400 bales
from Galveston, 7,100 bales from Pensacola, 4,500 bales from
Mobile and 15,937 bales from New York.
home trade has been almost exclusively of a hand-to-mouth
character, as jobbers have been confining their takings to
only such supplies as have been needed to meet their current
wants. Shippers have also been small buyers, their pur
chases having been o f an unimportant nature. Mills have
shown no disposition to hurry business, and values have
held steady with the grain market. Rye flour has been in
moderately active demand at firm prices. Buckwheat flour
has sold slowly but values have held steady. Corn meal has
been quiet but steady.
There has been only a small speculation in the market for
contracts and the changes in prices have been o f an unimport
ant nature, as the influence of the home political develop
ments have been offset by the Anglo-Russian-Chinese situa
tion. Saturday there was a quiet, steady market. Monday
there was slightly easier turn to values early in the day, the
result o f uneasiness shown over the Spanish American rela
tions. Subsequently, however, developments in the Far
East turned the market steady. Tuesday there was
a firmer market, foreign advices were stronger, and
this, together with the political situation in the Far East
and unfavorable prospects for the growing '•rop were
the strengthening features. Wednesday prices again made
a fractional advance on very moderate trading; a more active
export demand was the principal bullish feature o f the mar
ket. Thursday there was a quiet and easier market, in re-
THE
536
CH RO N ICLE
[V ol. LX\
----------.................................................................................... ........
—
sponse to weaker foreign advices. T o-lay prices broke badly,
showing a decline of
in response to weaker ad
vices from the West, where aggressive selling by a prominent
operator depressed prices. The export business has been
moderately active for the week. To-day there was a limited
amount of business transacted, the sales here and at outports amounting to 64,000 bushels No. 2 red winter at $1 05%
f. o. b. afloat.
and cloakings dull, with an occasional te .dency in^ buyers
favor. Fall dress goods have been in fair demand, with more
doing in fancy lines. Flannels have ruled quiet but firm.
Blankets also firm but demand moderate.
D omestic Cotton G oods.—The exports of cotton goods
from this port for the week ending March 7 were 6,574.
packages, valued at $247,025, their destination being to tne
points specified in the tables below :
DAILY CLOSING PRICES OP NO. 2 RED WINTER WHEAT.
Sat.
e. 105%
,e. 10 %
o. 91%
.0. 81%
March delivery...
Mon.
106%
100%
91%
82%
Tues.
106%
100%
92%
83%
Wed.
106%
101
92%
84%
Fr*.
Thurs.
105% 103%
100%
08%
90
91%
83%
82%
The speculative dealings in the market for Indian corn
futures have been on a limited scale only, and changes in
prices during the week have been of an unimportant nature.
Early in the week prices showed fractional declines under
some selling by longs to realize profits and a falling off in the
export demand. Subsequently, however, there was a revival
of the export trade and the market turned steadier, prices
more than recovering their loss. To-day the market held
about steady on an active export demand. The export sales
here and at outports to-day were 650.00) bushels, including
No. 2 mixed at 37%@37L4 c ., f. o. b. afloat for prompt ship
ment.
DAILY CLOSING PRICES OP NO. 2 MIXED CORN
Sat.
May delivery............ ...c . 35
July delivery................ ..c . 36%
lio n . Tues.
34% 35
35% 36
Wed.
35%
36%
Thurs.
35%
3638'
Fri.
35%
36%
Oats for future*delivery have been dab, and the course o f
prices has followed closely after c o r n weakening slightly
early in the week with some selling by longs to realize profits.
Later, however, the market turned steadier and recovered
the slight decline. To-day there was a quiet but steady mar
ket. The spot market has been fairly active, as exporters
have been buyers. The export sales to-day were 110,000
bushels. No. 2 mixed in elevator was quoted at 31J|@Bl%c.
and No. 2 white in elevator at 38%c.
D A ILY CLOSING PRICES OP NO. 2 M IXE D OATS.
May delivery.................. o.
Sat.
30%
H on.
30%
Tues.
Wed.
Thurs.
Fri.
30%
30%
30%
30%
Rye has been in moderately active demand, and as offer
ings have been limited, higher prices have been paid. Barley
has been quiet but steady.
The following are closing quotations:
Patent, winter....... $4 80 ® 5
Fine__ . . . . . . . . . . . . . $ 3 15 @3 25
City mills, extras.. 5 60 ®5
S u p erfin e.......__ _ 3 35 ®3 45
Rye flour, superfine 2 75 ® 3
Extra, No. 2 . . . . . . . 3 60 ® 3 80
Buckwheat flour... 1 2 5 ®1
Extra, No. 1 . . . . . . . 3 40 ® 4 10
Corn meal—
4 20 @ 4 .35
C l e a r s ............. .
Western, etc......... 2 00 ® 2
Straights................. 4 40 ® 5 30
2 15
Brandywine
Patent, Spring------ 5 1 0 ® 5 95
[Wheat flour in sacks sells at prices below those for barrels.]
20
70
25
30
10
Com, per hush—
o.
o.
Wheat—
o*
c*
Western mixed............ 35 ®38%
Hard Duluth, No. 1.108%® 110%
No.
2
mixed.................
35%
®
38%
Red Winter, No. 2.. 104 ® 105%
Western Yellow...........36 ®38
Hard Man., No. 1 ..1 0 8 ® 109%
Western White......... ..3 6 ® 38
Northern, No. 2 ...1 0 5 ® 106%
R yeOats—Mix’d, per bsh. 31 ® 34
Western, per bush....5 9 ® 59%
W h ite ........................ 33% ® 39
State and Jersey.........56 ® 59%
No. 2 mixed.............. 31% ® 32%
No. 2 w h ite ......» « . 33% ® 34% Barley—Western . . . . . . . 4 8 ® 57
Feeding....... . . . . . . . . . . 4 2 ® 42%
N e w Y ork to Mar . 7.
1897.
Week. Since Jan. 1
758
216
21,247
4,474
8.037
6,459
2.8t~5
803
1,158
9,503
1,603
82
751
615
19.696
663
4,349
1,796
3,443
482
1,234
12.697
1,118
122
59
3,903
Total..................................
China, via Vancouver*___
6,574
57,123
200
4,834
46,844
8,750
Total...................................
6,574
57,323
4,834
55,594
1,057
335
130
244
587
137
2,001
89
228
35
323
40
35
*l,7i 9
232
* From New England mill points direct.
The value of the New York exports for the year to datehas been $2,065,607 in 1898 against $1,919,428 in 1897.
The market for heavy-weight brown sheetings and drills
remains steady in price, as agents are, as a rule, able to take
care of stocks on hand, although current demand is quiet on.
both home and export account. Light-weight brown and grey
goods have a tendency to favor buyers. Brown osnaburgs^
and ducks quiet and featureless. W ide sheetings firm but
quiet. Fair orders reported for cotton flannels for the new
season, but some irregularity in prices, cotton blankets sell
ing well and firm. Bleached cottons in quiet but steady de
mand, the finer grades steady in price but low qualities
rather easier in tendency. Denims quietly steady; ticks in.
moderate request; and other coarse colored cottons quiet at
previous prices. Kid-finished cambrics dull and unchanged.
Prints in fair re-order demand for general assortments; prices
unchanged. Ginghams in good condition and firm through
out. Print cloths have been sold at 2%c. for extras at Provi
dence, but no sales at Fall River except in odd goods, and
demand for these indifferent.
F oreign Dr y G oods.—Seasonable business has been irreg
ular and without special feature. Demand for dress goods'
for fall has improved, but chiefly in low-priced grades. Silks
very firm, with fair orders. Ribbons firm but quiet. Linens
and hosiery and underwear without new feature.
Importations and W arehouse W ith d raw als of Dry G oof •
The importations and warehouse withdrawals of dry goods
at this port for the week ending March 10, 1898, and sinceJanuary 1, 1898, and for the corresponding periods of last
year are as follows :
M g
g
5.H
=to
r
Mo
r
f
p-g
pu
't©
p. e+ ■tf oa wg as gi e?
g
g
s? a s s e s s
®p " S o
P.
ao si
g-
0
•1
dS*
THE DRY GOODS TRADE.
There have been no material developments in the market
this week. The demand at first hands has again been quiet}
and there is some disposition to attribute this to the contin
ued uneasiness regarding the relations between the United
States and Spain, but as the jobbing trade all over the country
is reported good, and its results for the season much ahead o^
recent springs, it would hardly seem as though “ war talk” was
exercising any powerful general influence. It may possibly
be preventing some branching out, however, on forward
business. The tone of the primary market continues steady,
and prices have not weakened here. In print cloths there
has, however, been an easier market, and although Fall River
makes no charge in quotations, there has been a decline of
1-16c. elsewhere, bringing them back to the previous lowest
point from which they moved up in January. This may
have an adverse- effect on other prices within the next week
or two, but sellers do not so far show any disposition to press
other staple lines of cottons upon buyers. The woolen goods
business continues unsatisfactory in all lines of men’s-wear
fabrics.
W oolen G oods.—There has been a limited attendance of
buyers in the market this week and salesmen on the road
have sold indifferently.
The general demand has thus
been light, and smaller than had been counted upon. The
volume of business actually doing is further practically offset
by the cancellations o f previous orders which are still coming
to hand in men’s-wear light fabrics. The tone of the market
shows increasing uncertainty in heavy-weights, and irregularity in pric6S t)0 coni8 s a mor© conspicuous featur© in potn
staple and fancy goods. Cotton-warp and •cotton-mixed
fabrics are quiet. Overcoatings have been in limited request
1898.
Week. Since Jan. 1.
Great Britain................ ......
Other European.....................
China........................................
India.........................................
Arabia.......................................
A frica......................................
West Indies.............................
Mexico..................................
Central America.....................
South America.......................
Other Countries.....................
|<f/r F o r other ta ble* u su a lly Riven here see page 501 .
N ew Y ork , F rid a y , P. M., March 11, 1898.
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.a,
THE
March 12,1888.]
B v k it
and
CHRONICLE.
C ity D E fA T m v m n ,
TERMS OF SUBSCRIPTION.
The I n v e s t o r s ’ S u p p l e m e n t w ill be furnished w ith ou t
e x t r a ch arg e to every annual subscriber of the C o m m e r c ia l
and
F in a n c ia l C h r o n ic l e .
The S t a t e a n d C i t y S u p p l e m e n t will also be furnished
w ith ou t e x tr a ch arg e to every subscriber of the C h r o n i c l e .
The S t r e e t R a i l w a y S u p p l e m e n t w ill likewise be fur
nished w ithout ex tra ch a rg e to every subscriber o f the
C h r o n ic l e .
The Q u o t a t io n S u p p l e m e n t ,
issued monthly, w ill also be
urnished w ithou t ex tra ch a rg e to every subscriber of the
'C h r o n i c l e .
TERMS for the C h r o n ic l e with the four Supplements
above named are Ten Dollars within the United States and
Twelve Dollars in Europe, which in both cases includes
postage.
________ _
Terms o f Advertising'—(P e r inch space.)
Transient matter (1 tim e).. $3 50 1Three Months (13 tim es)..$25 00
standing business cards .
Six months
(26 tim es).. 43 00
I to months c8 times).......... 18 00 1 Twelve Months (52 times). 58 00
Americus, Ga.—B o n d Issu e L eg a l.—The Supreme Court
"has dissolved the injunction granted last fall restraining the
•city officials from issuing the $35,000 water-works and sewer
bonds voted in October. It is stated that the bonds will be
■offered for sale within a few days.
Bozeman, Mont.—Iv ju n ctio n A g a in st the Issu an ce o f
B o n d s .—On February 25. 1898, Judge Armstrong allowed an
injunction restraining the city from issuing tbe $56,000
water-works bonds, the sale of which was to have taken
place February 15, 1898. The bonds were to be issued for
the purchase of the water-works plant, the city assuming the
outstanding bonded indebtedness .of the Bozeman WaterW orks Company, amounting to $102,000. The decision was
made on the ground that the city, under the statute govern
in g municipal corporations, c uld not assume indebtedness
■of the water-works company, but could only issue bonds for
the purchase of water-works, and therefore the election of
N ov. 17, 1897, was o f no effect.
Clinton - Lebanon, N. 3 . —A n n ex ation B ill a L a w .—The
Governor has signed a bill Consolidating the townships of
Clinton and Lebanon, situated in Hunterdon County.
Douglas County, Neb.— B on ds V alid .—The State Supreme
Court has declared legal the $180,000 4%% funding bonds
awarded December 1, 1897, to Farson, Leach & Co , Chicago.
Lawrence, Kan.—B o n d L itig a tio n .—The long-threatened
?suit by tbe State against the city of Lawrence for the collec
tion of $100,00!>in bonds issued by the city in aid of the State
University was filed in the District Court March 1, 1898. The
petition on behalf o f the State, it is said, covers 1.0C0 pages,
and is the largest ever filed in that court. The amount
-claimed is $143,791 and accumulated interest to the amount
o f $1,971. The case will not be reached at the’present term of
court, but will probably be tried in May. The Kansas City
“ Journal’’ recently stated in a dispatch from Lawrence that
"it was proposed to make this a test case by the present State
Administration as to its bearing on other schboi bonds held
by the State. The city has paid in interest on these bonds
.an amount equal to the face value, when, by an act of the
Legislature, the city was released from further payments,
.and now rests on the validity of that act and the original in
validity of the bonds.
M ichigan.—S p ecia l Session o f the L eg islatu re.—On March
•8,1898, Governor Pingree issued a proclamation convening the
Legislature in extra session March 22, 1898. The State Con
stitution requires the Legislature to provide a uniform rule
o f taxation, and that all assessments should be at the actual
cash value of the property. The Governor claims that the
-spirit, if not. the letter of these constitutional provisions, is
being violated, laws having been passed, he charges, by which
railroads, express, telephone and telegraph companies are re
quired to pay about one twenty-sixth of the taxes, although
■owning at least one-third of the property in the State. It is
■to correct this evil, he states, that the extra session is called.
New Jersey.— B ill a s to S avin gs B a n k s Investm ents.—
Messrs. Wilson & Stephens of this city have written us call
ing attention to the fact that the bill recently passed by the
State Senate, as introduced by Senator Ketcham, permits the
managers of savings banks to invest in bonds of tow nships in
-the State of New Jersey as well as in those of boroughs. The
following is the exact wording of the clause: “ The managers
of any savings bank organized under the laws of this State
may invest its moneys in the bonds of any borough or town•ship of this State, issued pursuant to the authority of any law
o f this State.”
. E q u a l T a x atio n L a w .—The Legislature has passed a bill
Which provides that the “ equal taxation” law of last year
shall be operative during the present year. The papers say
that the “ effect of ibis is that during this year and annually
thereafter the State shall surrender to the several municipal
ities within its borders the one half of 1%tax on second class
railroad property, which since 1884 has gone into the State
Treasury. The State, by this ‘equal taxation’ law, surrenders
about $2 0,000 a.year.’'
New York State.—B ie n n ia l Session s o f the S t a t e L eg isla
t u r e .—On March 3, 1898, the State Assembly passed the Sen
a t e resolution providing for the submission to a vote of the
537
people of the Constitutional amendment providing for bien
nial sessions of the State Legislature.
Ohio.—P ro p o sed L im itin g o f the Issu an ce o f B : n ds.—A
bill has been introduced in the State Legislature which limits
the issuance of bonds by any county, township or municipality
to 1% of the tax duplicate.
Owyhee County, Idaho.—B o n d L itig a tio n .—W e are ad
vised by E. L. Ballard, County Auditor, that the question re
garding the legality of the $61 0 0 6# funding bonds maturing
from 1967 to 1917 is now being r onsidered by the State Su
preme Court, and that the bonds have not yet been delivered
to the purchasers, the First National Bank o f Caldwell.
Seattle, Wash.—S u it Im p en d in g A g a in st the C ity o f
S eattle.—Preliminary action was taken by the holders of
street-improvement warrants of Seattle issued from 1889 to
1892, inclusive, at a meeting held March 2,1898, at tbe office of
Olmstead & Taylor, 44 Broad Street, New York City, as pre
viously advertised in these columns.
These warrants,
amounting to $250,000, were issued by the city for various
improvements, principally for the grading and improving of
its streets. It is claimed that the laws of the State of Wash
ington and the charter of Seattle provide for the levy and
collection of money for the retirement of the warrants, and
that said provisions have not been complied with by the city
A committee composed of Mr. Alonzo Elliott, Manchester, N.
H .; Mr. George Olmstead of New York, and Mr. M. C.
Soule of Monmouth, 111., were appointed and authorized to
take such action as may appear necessary, and to employ any
means to enforce the payment of the warrants. The obliga
tions are held largely in the East.
Stoneville, N. C.—T em porary Iv ju n ction .—The Raleigh
“ News” on March 1,1898, stated: “ The Town Commissioners
of Stoneville, through their attorney, will bring suit at the
next term of the Rockingham Court to test the validity of a
$5 000 issue of bonds io the Roanoke & Southern Railroad of
date January 1, 1889. The charter of the town, obtained
in 1877, allows the Commissioners to levy taxes for internal
improvements, streets, etc., and the plaintiffs in this action
claim that they had no authority, none having been granted
by the Legislature and the charter never having been amended,
to levy a tax for the payment of bonds to build or aid in the
construction of a railroad.”
On March 5, 1898, Judge Cable granted a temporary in
junction restraining the Sheriff from levying or collecting
any tax to retire these bonds.
Superior, Vi i s . —R efu n d in g B o n d O rder S u stain ed .—A
dispatch to the Milwaukee “ Wisconsin” from Madison, dated
February 26, 1898, said : “ Judge Bunn yesterday refused to
grant the motion of the Eadion Improvement Company in the
Superior refunding case, and the original order which pro
vides for the refunding of $250,000 of bonds will stand.
This is a victory for the city, which is endeavoring to refund
$1,C00 000 o f indebtedness. The company also applied to be
made a party to certain tax cases now pending in the Court,
and this petition was also refused.”
Tacoma, Wash.—P ttttion f o r a R eh ea rin g in the T acom a
W arran t C ase R efu sed .—The following dispatch from Olymp
ia, Wash., under date o f March 2, 1898, is taken from the
New York “ Times” : “ The Supreme Court tod a y handed
down a decision denying a petition for a rehearing in the
case of Bardsley vs. Sternberg, Treasurer of the city o f
Tacoma. This is the Tacoma citv warrant case, and the Su:
preme Court recently held that $600,000 of warrants once paid
by the City Treasurer and resold to innocent purchasers must
be paid. The warrants in dispute with interest now aggre
gate $800,000, and they are held by Eastern parties. The city,
it is understood, must now make provision for their pay
ment.”
Terre Haute, Ind.—B on d s R e f u s e d .—T h e Indianapolis News
recently stated that N. W . Harris & Co., of Chicago, suc
cessful bidders for $30,050 of street improvement bonds, have
declined to take the same, claiming that the bonds are not
legal because issued in a lump when separate bonds for
each contemplated improvement should have been issued.
Texas.—No R u lin g As to the G old C lau se in B on d*.—In
the Chronicle Feb. 26,1898, we quoted a dispatch from the St.
Louis “ Globe-Democrat” which said that Attorney-General
Crane had recently ruled that all bonds hereafter submitted
to him for approval must be made payable in “ lawful money
of the United States” and not in “ gold.” This statement has
been denied by Assistant Attorney-General Fuller, who, ac
cording to the Houston “ Post,” said “ that no such ruling
has emanated from Mr. Crane’s department.” Mr. Fuller
stated that neither the Beaumont nor Bexar County bonds
(mentioned in the item) had as yet been presented for
approval.
Trenton, N. J.—B ill A n n exin g W ilbu r Now a L a w .—T h e
S‘ate Legislature has passed a bill annexing the Borough of
W ilbur to the city of Trenton, and the bill has been signed Ijy
the Governor.
^
Tan W ert County, Ohio.—B on d s Ille g a l.—On March 7,
1898, Judge W . T. Mooney of the Van W ert County Common
Pleas Court has made perpetual the injunction restraining
the Auditor, Treasurer and Pike Commissioners from collect
ing the pike tax in this precinct. The proceedings leading
to the issue of bonds was found to be irregular. A majority
of the land owners of the precinct should have signed the
original petition, but it was discovered upon trial of the cases
that the number of signers was less than that required by la w.
This decision, it is stated, invalidates bonds to the amount o f
$30,00) which were purchased by Lamprecht Bros, o f
i
W
538
THE CHRONICLE.
Cleveland.. An appeal has been taken to the Circuit Court,
which convenes at Van W ert March 22.
V irgin ia.— C on stitu tion al C onvention B ill F a ile d .—The
Senate passed a bill some time ago providing for the sub
mission to a vote of the people of the question of holding
a convention to revise the Constitution. The House amended
the bill so as to have the question voted on at the fall elec
tion in 1899 instead of the spring election of that year. The
Senate refused to concur, and a conference committee was
unable to agree. The result was that the bill failed.
Bond Calls and Redemptions.
Bandera County, Texas.—B on d s R ed eem ed .—The county
recently redeemed $1,000 court-house bonds.
Brazos County, Texas.—B on d s R ed eem ed .—On March 5,
1898, the county redeemed $5,200 bridge bonds held by the
State School Fund.
Chicago (111.) Sanitary D istrict.— W a rra n t C all.—F. M.
Blount, Treasurer, has called for payment March 14, 1898, at
the Chicago National Bank, Warrants Nos. 1 to 60, inclusive,
issued against the tax levy of 1897. Interest w ill cease on the
above date.
Childress County, Texas.—B on d s R ed eem ed .—On Feb
ruary 25, 1898, the county redeemed $5,000 funding bonds
held in the State School Fund.
Crosby County, Texas.—B on d s R ed eem ed .—Court-house
and jail bonds to the amount o f $1,000, held in the State
School Fund, were redeemed March 3, 1893.
Denver, Col.— W a rra n t C all.—Paul J. Sours, City Treas
urer, has called for payment March 31, 1898, the following
bonds and warrants :
Capitol H ill Sanitary Sewer District No. 1, Bonds Nos. 135 to 139, inclusive.
Larimer Street Paring D istrict No. 2, Bonds Nos. 129 to 181, inclusive.
Nineteenth Street Paving District Ne. 1, Bond No. <55.
Nineteenth Street Paving District No. 2, Bond No. 79.
North Denver Sanitary Sewer District No. 2, Bond No. 112.
South Side Sanirary Sewer District No. 1, Bonds No. 138 to 139, both inclusive.
Thirteenth Street Sanitary Sewer District Refunding Warrants Nos. 79 to 80,
inclusive.
Highlands Sewer District No. 1 warrant; Register No. 39.
Interest will cease March 31,1898.
De W itt County, Texas.—P rop o sed Bond- R ed em p tion .—
The county will redeem on April 10, 1898, $4,000 bridge bonds
and $1,000 jail bonds.
Floyd County, Texas.—B on d s B edeem ed.—The county has
redeemed $1,000 jail bonds held in the State School Fund.
Greene County, Mo.—B on d C all.—The County Court has
called for payment April 1, 1898, $32,000 funding bonds.
Upon payment of these bonds the debt will be $325,000.
Hardeman County, Texas.—B on d s R edeem ed.—On March
8, 1898, the county redeemed $2,000 court-house bonds, which
were held in the State School Fund.
Hays County, Texas.—B on d s R edeem ed.—On March 5 ,189£,
the county redeemed $24,750 bonds which were held in tne
State School Fund.
Hood. County, Texas.—B o n d s R ed eem ed .—On March 3,
1898, $2,000 court-house and $500 bridge bonds were redeemed
by this county.
K endall County, Texas.—B on d s R edeem ed.—Jail bonds to
the amount of $1,000 were recently redeemed by this county.
L ouisville, Ky.— Notes R ed eem ed .—On February 25, 1898,
City Treasurer Young redeemed $100,000 city notes held by
the Bank of Commerce. These notes were negotiated last
November in anticipation o f the collection of taxes.
M ills County, Texas.—B on d s R edeem ed.—The county has
redeemed $1,000 funding bonds.
Ozark County, Mo.—B o n d C all.—The county has called
for payment March 29, 1898, at the Fourth National Bank,
St. Louis, funding bonds Nos. 1, 2, 3, 4 and 8, bearing date
August 20, 1889. Bonds are in denominations of $500.
Bains County, Texas.—B o n d s R edeem ed.—The county has
redeemed $1,000 court-house bonds. These bonds were held
in the State School Fund.
R andall County, Texas.—B on d s R ed eem ed .—County jail
bonds to the amount of $1,000, held in the State School Fund,
were redeemed February 25, 1898.
Seattle, Wash.— W a rra n t C all.—George F. Meacham,
City Treasurer, called for payment March 3 judgment fund
warrants Nos. 177 to 202, inclusive, Rainier Street ordinance
No. 2,390, warrants Nos. 2,775,2,776 and 2,777, part payment,
$125. Warrants are Dayable at the City Treasurer’s office.
Seneca Falls, N. V.—B on d s R ed eem ed .—The town has re
deemed $2,000 bonds issued in aid of the Pennsylvania &
Sodus Bay Railroad.
South Omaha, Neb.— W a rra n t C all.—City Treasurer
Broad well called for payment February 25, 1898, on which
date interest ceased, the follow ing warrants : A ll general
fund warrants registered prior to February 1, 1897; fire and
water warrants to No. 1000; street repair warrants to No.
It 98; salary warrants to No. 74; water fund warrant to No. 6;
engineer warrants to No. 13; police warrants to No. 988 of
series No. 1 and to No. 20 o f series No. 2; judgment fund
warrants to No. 168; school warrants to No. 1107. Call
aggregates about $20,000.
[V ol L XV I.
Allegheny (P a .) Thirteenth W ard School D istrict.—B on d
S a le.—The district has sold at private sale to R . J. Stoney,
Jr., Pittsburg, $27,000 school-house bonds.
Akronj Ohio. - B o n d S ale.— On March 9, 1898, the $11,000
5% sewer and street improvement bonds were awarded to
Seasongood & Mayer, Cincinnati, at 102*843. Following are
the bids:
Seasongood & Mayer, C in __$11.312 75 |T he New First Nat’l Bank,
Spitzer & Co., T o le d o............ 11,276 10
C olom bus.................................... $11,23575
Crogan Bank. Frem ont......... 11.276 7) I Deitz.Denisonjfc Prior,C le v e .. 11,225 00
Citizens’ Savings.* Loan Asso] Kane &Co., Minneapolis, Min. 11,132 27
ciation, Mansfield................11.26T 36 Rodgers & Son,Chagrin Falls. 11,181 75
W . J. Hayes & Sons, C leve...
11,256 75 S. A . Kean, Chicago.
11,12375
Following are the descriptions o f the bonds:
$1,300 Maple_Street sewer bonds, maturing $300 in one year, $500 in tw o and
$500Th three years.
800 North Valley sewer bonds, maturing $100 yearly.
1,000 H igh Street sewer bonds, maturing $300 in one and tw o years and $400
in three years.
2,800 Oakdale A venue improvem ent bonds, m aturing $500 yearly from one to
fou r years and $800 in five years.
900 Kling Street sewer bonds, maturing $300 yearly.
1,200 High Street sewer bonds, maturing $200 in one year and $500 in tw o and
three years, respectively.
1,900 Market Street sewer bonds, maturing $500 in one and tw o years and $900
in three years.
1,600 North Valley street improvem ent bonds, maturing $300 yearly from on©
to fou r years and $600 in five years.
Andover, Mass.—B on d s Voted.—On March 7, 1898, the
town voted to issue $80,000 sewer-construction bonds.
Atlanta, Ga.—B o n d E lection P ostp on ed .—The election tovote on the question of issuing $200,000 water bonds called
for April 6, 1898, has been postponed to April 21, 1898, the
date of the county primary.
B altim ore, Md.—B on d S ale.—The City Finance Commis
sion has accepted the offer of 106% made by the Maryland
Casualty Co. for $50,000 1945 loan and $50,00.) of the public,
improvement 1940 loan. This, it is stated, is the highest
price ever paid for city stock. The money secured w ill be
devoted to payments upon the new court-house and water
supply system.
Bexar County, Texas.—B on d s P ro p o sed .—The County
Commissioners have under consideration the refunding o f
$240,000 8% subsidy bonds; It is stated that several offers
have been received for the new bonds.
Berkeley, Cal.—B o n d E lection .—It is reported that an
election will be held March 26,1898, to vote on the question
of issuing $60,000 school-house bonds.
Bism arck (N. Dak.) School D istrict.—B o n d S a le.—The
State Board o f University and School Lands ha3 taken for
the School Fund $25,000 4% refunding bonds of this district.
Brookhaven, Miss.—B o n d S a le.—Local press reports state
that on March 1, 1898, the city sold $5,000 20-year water
works and electric-light bonds.
B rooklyn (T ow n), Conn.—B on d O ffering.—Proposals will1
be received until 3 p . m . March 26,1898, by Henry H. Davison,
Town Treasurer, for $28,000 4% funding bonds. Securities
w ill be in denominations of $1,000, dated May 1, 1898, and
mature $3,000 May 1, 1903; $5,000 May 1, 1908; $5,000 May 1,
1913; $5,000 May 1,1918; $5,000 May 1, 1923, and $5,000 May
1,1928. Interest will be payable May 1 and November 1.
Bonds are issued for the purpose o f funding the floating in
debtedness, which on February 1, 1898, was $30,500, but
which will be reduced by about $2,000 from the proceeds of a
tax levied for this purpose. The town has no other indebted
ness. The total valuation in 1897 was $1,258,597.
The official n otice o f this bon d offerin g w ill be fo u n d a m on g
the advertisem en ts elsew here in th is D epartm en t.
Buffalo, N. Y.—B o n d O ffering.—Proposals w ill be received'
until 12 M. March 16,1898, by Erastus C. Knight, Comptroller,
for $89,136 86
grade-crossing bonds. Securities are as
follows:
$27,722 05
registered bonds, dated February 1 5 .189S, and m aturing Feb
ruary 15.1918. Interest will be payable February 15 and August 15»
10,697 44 3]4% registered bonds, dated March i, l«9H. and maturing March 1,
1918. Interest will be payable March 1 and September 1.
50,717 37 3J^i6 registered bonds, dated March 1,1898, and maturing March 1.
1918. Interest will be payable Mai ch 1 and September 1.
Interest on the above bonds will be payable at the Comp
troller’s office or at the Gallatin National Bank, New Y erk
City. These bonds are issued pursuant with acts of the Legis
lature and duly authorized by ordinances. A certified check
for 2% of the amount of bonds bid for, payable to the Comp
troller without conditions, must accompany bids.
B on d s A tithorized.—Mayor Diehl has approved the bill au
thorizing the issuance of $500,000 water-works extension bonds.
Canton, Ohio.—B o n d d a le.—On March 7,1898, the $13,933 22“
refunding bonds were awarded to Seasongood & Mayer, Cin
cinnati, at 102*96 for 4 per cents. Following are the bids :
Seasongood & Mayer, Cincinnati...........
Dietz, Denison & Prior, Cleveland........
Society lo r Savings, Cleveland......... .. ..
W . J. H ayes & Sons, Cleveland ...........
New First National Bank, Colum bus...
S. A . Kean, Chicago....................................
Edw. C. Jones Co , Cincinnati...................
Spitzer & Co., T oledo...... ..........................
Citizens’ Savings & Loan Co., Mansfield.
4îê Bond.
$412 50
302 35
288 41
272 00
205 75
100 25
Par
■Premiums.---------r------->
5% Bond.
Boride
$1,567 50
$992 751,440 69
1.45Ï59
500 50
7.77.7.
204 00
Bonds mature March 1,1908. For further description o f
bonds see Chronicle February 26, 1898. p. 436.
Cheboygan County, M ich.—B o n d E lectio n .—An election
Bond Proposals and Negotiations this will
beheld April 4, 1898, to vote on the question of issuing
week have been as follows:
$30.000 bonds for a new court-house.
Clallam County (P . 0. P ort Angeles, W ash.), S chool
Albany, G n —B on d E lectio n .—An election w ill be held
April 18, 1898, to vote on the question of issuing $25,000 5% D istrict No. 7.—B o n d S a le.—The district has sold the $21,000 6$ funding bonds, according to local reports.
85-year electric-light bonds.
March 12, 18.8.J
l’ HË C WORM IOLE
C larksville, Ya.—B on d S ale.—The town has sold at private
sale to parties not named $10,000 bonds.
Clay County, Kan.—B on d S ale.—The State School Fund
Commissioners have purchased $25,00) bonds o f this county.
W e are advised that the Commissioners w ill purchase a
couple o f hundred thousand dollars bonds during the next
tw o or three weeks, for which arrangements have already
been made.
Cleveland, Ohio.—B on ds P rop osed .—A bill recently intro
duced in the State Legislature authorizes the city of Cleve
land to issue $50,000 bonds to change the course of Gidding’s
Brook.
Columbus, Ohio.—B o n d Issu e.—The Trustees of the Sink
ing Fund will take the $160,0014% bonds issued to refund the
5# “ Boston Loan” maturing March 18,1898. The new bonds
w ill be dated April 1, 1898, and mature April 1,1900. Interest
w ill be payable April and October.
B on d s A u thorized .—The City Council has passed ordinances
providing for issuance of 4% bonds for the improvement of
Toronto Street and Park Street. The total amount of the
bonds to be issued cannot be determined until the whole work
is done, and the bonds will be issued from time to time as the
improvement progresses.
B o n d E lection .—A t the election to be held April 4, 1898,
the question of issuing $25,000 patrol-house bonds will be
submitted to a vote of the people ia addition to the $175,000
water-works bonds.
.. .
Comal County, Texas.—B o n d S ale.—On February 14,1898,
$84,000 5% 10-40-year court-house bonds were awarded to the
First National Bank of New Braunfels at 103‘10, the pur
chaser to furnish blank bonds. Following are the bids:
FirstN at. B ant, New Braufels.+$35,054 I R. E. W ilsey...................... ............$3,700
J . B. Oldham, Dallas................. * 35,020 R . R. R ockett .............................. 34,510
M. S. Swaine............................... * 34,710 I T. C. Frost Co.............................. 34,340
* A nd blank bonds. + And blank bonds to the amonnt o f $43,500.
Coshocton, Ohio.—B on d S a le.—On February 28, 1898, the
$2,700 6# sewer bonds were awarded to the Commercial Bank
ing Co. o f Coshocton at 104*08.
Cranford, N. J .—B on d S ale.—Farson, Leach & C!o., New
York, were awarded on March 1, 1898, $80,000 4%% school
bonds at 101*50. Bonds are dated March 1, 1898, with inter
est payable March and September. Principal will mature
$1,000 yearly on March 1 from 1999 to 1928, inclusive.
Dayton, Ohio.—No New B o n d s.—In the C hronicle, Feb.
12, 1898, we stated that the Legislature would be petitioned
for authority to issue $500 bonds to repair the levee at
North Dayton. W e are now advised that no bonds will be
issued for this purpose, as the money will be taken from the
Levee fund.
East Cleveland, Ohio.—B o n d S a le.—On March 7, 1898,
Rudolph Kleybolte & Co., Cincinnati, were awarded the $5,000
4% lighting and $20,000 4% water-works bonds at 103*02. F ol
lowing are the bids :
||539
ican Exchange National Bm k, New York City. The county
has no other indebtedness. The assessed valuation i i 1897
was $1,627,676 and the real value about $6,000,000. Popula
tion about 20,000.
Hazleton, Pa.—B id s .—Following are the bids received
March 1, 1898, for the $35,000 4 i bonds :
Penn Mut. L ife Ins. Co.. P h ila ..101*833 I Edvr. C. Jones Co.. New Y o r k ...100*857
Geo. W . Blabon A Co., P h ila .... 101*50 |H eyl & Major, Philadelphia...... 100*565
N. W . Harris & Co , New York.. 101*17 i S. A. Kean, C h ic a g o ........ ....100*25
Kudolph Kleybolte & Co., N.' Y .101*012 |W . J. Hayes & Sons. Cleveland. 97*977
Bids of from par to 105 were received from local investors
for small amounts. As stated last week, bonds were awarded
to the Pena Mutual Life Insurance Co. of Paitadelphia.
Healdsburg, Cal.— B ond E lection . —An election will be held
on March 28. 1898, to vote on the question of issuing $80,000
5% water-works and electric*light plant bonds.
H illsdale County, Mich.— B ond E lection.—An election will
be held April 4,1898, to vote on the question o f issuing $45,000 court-house bonds.
Holyoke, Mass.— T em porary L o a n .—T h e “ Boston News
Bureau” reports that on March 7, 1898, the city negotiated a
loan of $200,000 with Bond & Goodwin, Boston, at
dis
count and a small premium. Loan matures ia November.
Hutcliison (M inn.) School D istrict.- B on d E lection.—At
the spring election the question of issuing $18,000 schoolhouse bonds w ill be voted upon
Jamestown, N. Y.—B o n d S a le .—On March 5, 1898, the
$20,000 sewer bonds were awarded to the Union Trust Com
pany of Jamestown at 109*17 for 4 per cents. Following are
the bids :
For 4 Per Cents.
I
For 4 P er Gents.
Union Trust Co., Jam estow n— 109*17 |Lamprecht Bros. Co., Cleve.......106‘39
Dietz, Denison & Prior, Cleve.. .109*10 ; W . J. Hayes & Sons, Cleveland.108*18
D. A. Moran & Co., New Y ork...108*039 I
For
P er Cents
Farson. Leach & Co., N. Y...108*00 I Edw. C. Jones Co.. New Y o rk .. .101*51
Rome Savings B a n k ................... 107*45 |Daniel A. Moran & Co., N. Y ___100*369
C. H. W hite & Co., New Y o r k .. .106 45 R om e Saviugs B an k................... 100*25
Jos. E. Gavin, Buffalo..................106*42 1
Bonds mature 20 years from date of issue. For further de
scription of bonds see Chronicle February 19, 1898. p. 393.
Johnstown (P a .) School D istrict.—B on d S a le.—On March
8, 1898, the highest bid received for the $100,< 00 4% bonds was
that of Bernard Thurman & Co., New York, at 101*876. F ol
lowing are the bids :
Bernard Thurman & Co.,
New York............................ $101,876 10
Penn Mut.Life Ins.Co.,Phil. 100,763 46
W . J. Hayes & Sons, C leve... 100,500 85
Philip F. Kelly, P hila........... $100,250 00
S. A . Kean, Chicago ............. 100,000 00
Mercantile Trust C o.,P itts.. 100,000 00
Johnstown Savings B an k ... 100,000 00
Bonds mature April 1, 1928, subject to call after 1901. For
further description of bonds see C hronicle February 26,
1898, p. 437.
Kandiyohi County Independent School D istrict No. 37,
Atwater, Minn.—B o n d O ffering.—Proposals will be received
until March 15, 1898, by Peter Larson, Clerk Board of Edu
cation, for $10,000 5% bonds. Securities are in denomina
tions of $1,000, with interest payable annually. Principal
will mature one-half in ten years and one-half in fifteen
Rudolph Kleybolte & Co., C in ...103*02 S o c ie t y fo r Savings, Cleveland..100*88
The Lamprecht Bros. C >.,Cleve. 10<!*328 I W . J. Hayes & Sons, Cleveland..l00*188 years from date of issue.
Farson.Leach & Co (water bds..) 101*315 l
Kansas City, Mo.—B on d E lectio n .—It is stated that at the
Bonds mature May 1, 1918. For farther description of spring election the question of issuing about $250,000 bonds
bonds see Chronicle January 29,1898, p. 251.
for new school houses will be voted upon.
E llijay, Ga.—B o n d O ffering.—Proposals will be received
K nox County, Ind.—B id s .—Following are th9 bids re
until 12 M ., March 21, 1898, for $5,000 6% 1-20-year school ceived March 1,1898, for the $7,211 6$ drainage system bonds.
bonds.
Seasongood & Mayer, Cinclnnati.$7,535 I W . J. Haves & Sons, Cleveland.. .$7,494
E l Paso, Texas.—B on d E lec tio n .—An election will be held Spitzer & Co., T oled o..................... 7,530 I Second Nat. Bank, V in cenn es.... 7,211
in April to vote on the question of issuing $30,000
40-year
As stated in last week’s Chronicle, the bonds were awarded
city-hall bonds and $15,000 6% sewer-extension bonds.
to Seasongood & Mayer, Cincinnati, at 104*49. Fourteen
E lyria, Ohio.—Rond E lectio n .—It is stated that the ques bonds are in denominations of $500 and one o f $211. Interest
tion of issuing bonds for a water-works system will be sub will be payable semi-annually at the National Park Bank,
mitted to a vote of the people in the near future,. A former New York City. Bonds mature $500 in 1900; $711 in 1901,
election for this purpose was recently declared illegal by the and $1,< 00 yearly from 1902 to 1907, inclusive.
State Supreme Court.
Los Angeles, Cal.—No B o n d E lection .—In the Chronicle,
Essex County, N. J .— B ond E lectio n .—W e are advised January 22, 1898, we reported from local papers that an elec
that the question of issuing the $1,500,000 park bonds recently tion would be held about March 1, 1898, to vote on the ques
authorized by the State Legislature must be submitted to a tion of issuing $150,000 fire bonds and $250,000 bonds for the
vote of the people, which will probably be done at the April construction o f storm drains. W e are now advised by the
election.
City Clerk that there is “ no such proposition on foot at pres
Evanston, 111.—B id s .—Following are the bids received for ent.”
th e$30,000 4% City Hall bonds:
Macoupin County, 111.— B on d E lec tio n .- The Board of
Mason, Lewis & Co., Chicago.......102*53 Farson, Leach & Co., C h ica go....101*71 Supervisors has decided to call an election to be held in April
Illinois Tr. & Sav. Bk., Chicago... 102*52 Trowbridge & Co., Chicago ........ 101*44
N. W. Harris & Co., Chicago........102*42 W . J. Hayes & Sons, Cleveland.. 101*20 to vote on the question of refunding $720,000 6% bonds with a
Ira C. Calef, Bennington, V t........102*27 Merchants’ Loan & Tr. Co., Chic. .101*19
Duke M. Farson, Chicago ..........102*09 State Bank o f E v a n s to n ............ 101*03 like amount of 4% per cents.
First National Bank. C h ica g o....102*05 Seasongood & Maver. Cincinnati.l00*2
Manistee, Mich. - B o n d E lection .—Local press reports
As stated last week, the bonds were awarded to Mason state that at the spring election the question o f issuing bonds
for municipal ownership of water-works w ill be v otcd upon.
Lewis & Co.
F ort Dodge, Iow a.— R efu n din g P ro p o sitio n A ccep ted.— The amount of bonds required will be from $200,000 to
The City Council has accepted a proposition of N. W . Harris $250,000.
M arseilles, 111.—B o n d S ale.—On February 24, 1898, the
& Co., Chicago, to sell for the city $36,< 00 4% refunding
bonds. The Chicago firm guarantee the immediate sale of City Council awarded to N. W . Harris & Co , Chicago, $9,000
the bonds at par, charging a commission of
for their 5% refunding bonds at 102*66, the purchaser to print the bonds.
services, the city to furnish satisfactory certified legal paper Securities are in denominations of $500, dated May 1, 1898.
showing the legality o f the issue. Bonds are to be dated Interest will be payable May 1 and November 1. Principal
March 1,1898, and mature March 1,1918, subject to call after w ill mature $500 yearly on May 1 from 1899 to 1916, inclusive.
M arshall County, W. Ya .—B o n d s D efeated .—A t the elec
1908. Interest will be payable semi annually at the banking
tion held March 5, 1898, the proposition to issue $100,000 rail
house of N. W . Harris & 'Co., Chicago.
Glenville, Ohio.—B on d s A u th orized.—The City Council road aid bonds was defeated.
Melrose, Mass.—B o n d O fferiug.—Proposals w ill be re
has authorized the issuance o f $18,000 bridge bonds, accord
ceived until 2 p . M. March 15, 1898, by George Newhall,
ing to local reports.
Ham ilton County (P . 0. McLeansboro), 111.—B o n d Offer Treasurer, for $50,000 4% school-house bonds. Securities are
in g .—Proposals will be received until 12 m . April 30, 1898, by in denominations of $1,000, bearing date of February 24,
Frank Lockett, County Clerk, for $280,000 4%% funding 1896, and maturing February 24, 1916. Interest will be pay
bonds. Securities are in denominations of $1,000, dated July able February and August at Boston or Melrose.
M iddleport, Ohio.—B on d E lection .—At the coming spring
1, 1898, with interest payable January and July. Principal
will be payable $14,000 one year from date of issue and $14,- election t"e question of issuing $35,000 water-works bonds
000 yearly thereafter. Interest will be payable at the A mer- and $2“,000 electric-light bond3 w ill be voted upon.
THE
540
CHRONJCLE,
iVOL. L X \ I
Onancock, Va.—B on d O ffering.—Proposals w ill be received*
until March 25, 1898, for $2,000 5% 10 30 year water-works ex
tension bonds. Interest will be payable at the Town Treas
urer’s office.
Oshkosh, W is.—B on d s A u th orized .—The Common Council,
has passed a resolution to refund the city's debt with $250 000*
5% 20 year bonds.
Ottawa, Ohio.—B on d O ffering.—Proposals will be received
until 12 m . March 15,1898, by Louis H. Huber, Village Clerk,
for $30,552 5% street-improvement bonds. Securities are in
denominations o f $500, dated June 1, 1898. They are issued
pursuant with Sections 2703, 2704, 2705, 2706, 2707 and 2709,
Revised Statutes o f Ohio, and authorized bv an ordinance
passed August 16, 1897. Bonds mature $2,052 June 1, 1908,
and $1,500 semi-annually thereafter to December 1, ,1917. A
certified check on one of the banks o f Ottawa for 5% of the
W alter Stanton & Co., N. Y ........ 102’26 I Bernard Thurm an & Co., N. Y .. .101-05
Rudolph Kleybolte & Co.. N. Y ...101-70 I Dietz, Denison & Prior, C le v e ....l0 0 '6 7 amount of the bends bid for must accompany proposals.
First Nat. Bank, Newport N e w s . ! 0 1 -.39 | C vtus Pierce,'Philadelphia......... 100-16
Paris, Texas.—B onds P rop o ed .—The City Council re
Sperry, Jones & Co., Baltimore,. .10138 I W. J. Hayes & Sons, C leveland.. ah'til
cently passed a resolution directing the Ordinance Commit
Bonds mature April 1, 1928, subject to call after April 1, tee to prepare an ordinance providing for the issuance of
1918. For further description of bonds see C h r o n ic l e Feb $60,000 40 year water-works bonds.
ruary 19, 1898, p. 394.
P ittsfield, M ass.—T em p orary L o a n .—On March 4, 1898,
Newton, Mass.—B o n d S ale.—The city has awarded $75,000 the city awarded to Charles Weil & Co., Boston, a tempo
4# 30-year water bonds to R. L. Day & Co., Boston, at 110*569. rary tax loan of $70,000 due November 1, 1898, at
and
New York City, Borough o f B rooklyn.—S chool B on d Issu e $1 premium. Following are th9 bids :
R equ ested.—At a meeting of the Borough School Board held
Chas. W eil & Co.,Bost. ($1 prem.).3-l25 I F. S. M oseley & Co., B oston ($1 75
March 8,1898, a resolution was passed requesting the Com p Bond
& G oodw in ,B oston.............. 3*17 I premium)
................................... 3"22
troller to authorize the issuance of $1,000,000 bonds for Curtis & Motley. Boston................. 3*18 I L ongtreet, Steelman & Co.,Boston
Newman & Totman, B o sI ($1 prem ium ).................................. 3"35
school buildings, pursuant with the provisions of Chapter Rogers,
ton (.$1 prem ium )......................... 3*20 |Blodget, M erritt & Co., B oston....3"35
532, Laws of 1897.
Pleasant H ill (M o.) School D istrict.—B o n d O ffering.—
Norfolk, Neb.—B^nds V oted.—The issuance o f $11,000
school house bonds was recently authorized at a special Proposals will. be received by. the Secretary of the Board o f
Education for $3,500
12-20 year school bonds. Secur
election.
Norwood, Ohio.—B o n d O ffering.— Proposals will be re ities are in denominations of $500, with interest payable
ceived until 12 m .. April 7, 1898, by W . E. W ichgar, Village semi-annually.
Pleasant Ridge, Ohio.—B on d S a le.—On February 26,1898,
Clerk, care of William E. Bundy, room 210 Lincoln Inn
Court, Cincinnati, for $31,437 34 6% sewer bonds. Securities the $3,489 10 5# sidewalk bonds were awarded to Seasongood
w ill be dated March 23, 1898, and w ill mature one-tenth & Mayer, Cincinnati. Following are the bids:
$992 50
$996 60
$1,500
yearly. Interest will be payable semi-annually at the Atlas
1-10-i/r.
1-10-vr.
13-15-y r~
National Bank, Cincinnati. The amount of bonds to be sold Seasongood & Mayer, Cincinnati.
10i-35
104-33
108-98
103-25
103-25
108
8. A . Kean, Chicago........................
may be reduced by the payment of assessments in cash. Bids City
Hall Bank, Cincinnati...........
102
102
106
must be accompanied by certified check for 5% of the gross
Bonds mature as follows:
mount of bonds, payable to order of Village Clerk.
Neola, Iow a.—B o n d O ffering.—Proposals will be received
at any time by H. Mendel, City Treasurer, for the $5,000
electric-light bonds recently authorized by a vote of 189 to
32. Interest will be at r o t more than 5%, payable semi-an
nually at Chicago or New York City agency. Bonds will be
issued about May 1.
Newark, N. J.—B on d s A u th orized .—At a meeting of the
Common Council held March 4, 1898, it was decided to issue
$300,000 bonds to pay the expenses of improvements in gram
mar and primary schools this year.
Newport News, Ya.—B o n d S ale.—On March 8, 1898, the
$75,000 4l£# sewer construction bonds, $15,000 4 ^ # prison
bonds and $50,000
school building bonds, were awarded
to Walter Stanton & Co., New York, at 102*26. Following
are the bids:
N E W LOANS.
^ 2 8 ,0 0 0
NEW
IN V ESTM EN TS.
LO ANS.
Old Virginia Securities.
The General Assem bly o f Virginia has enacted a
law, approved January 25,1898, a1lowing the holders
o f her old securities, not funded under act o. Feb
ruary 14, 1882, or February 20, 1892, until July 1,
1898, to fund them, at the same rates as provided in
the act o f February 20, 1892, except as to the time
the new bonds shall carry interes .
B b o o k l y n , Co n n ., ' " a r c h 3d, 1898.
Sealed proposals will be received until 3 P. M., Sat
This is probably the last tim e that this opportunity
urday. March 2«th, 1898. for the purchase o f $28,000 will t e allowed, and parties holding any o f the secur
o f T ow n o f Brooklyn four per cent Bonds, or any
ities
mentioned should avail them selves o f it with
part thereof, at which time at the Town Treasurer’s
office at Brooklyn. Conn., the said bids will be public out delay.
ly opened and read.
For particulars address,
These Bonds w illbe issued in Coupon Bonds o f One
Thousand ($1,000) Dollars each, dated May 1st, 1898,
JOSIAH R YL A N D , JR.,
$3,000 o f which will become due May 1st, 1903, $5,000
Second Auditor,
May 1st, 1908, $5,000 May 1st, 1913, $5,000 May 1st,
1918, $5,000 May 1st, 1923, and the remaining *5,000
and President o f Commissioners o f
May 1st, 1928, with interest at the rate o f fou r per
Sinking Fund o f Virginia,
cent per annum, payable semi annually on the first
days o f November and May in each year from May
Richmond, Va.
1st, 1898.
These Bonds are issued under, and in pursuance of,
and in full conform ity with, the laws o f the State o f
Connecticut, and a vote o f said town passed at a
m eeting legally warned and in Id on the 26th day o f
N otice is hereby given to the holders o f warrants
February, 1898, lo r the purpose o f retiring the out
issued by the City of Cedar Rapids, Iowa prior to
standing floating indebtedness o f the town.
Proposals less than par and accrued interest will not January 1st, 1894, to present the same fo r payment to
he considered and the Committee reserve the right
to reject, any and all bids. Proposals must be en the Treasurer o f said City on or before April 1st,
dorsed “ Proposal fo r bids” , and addressed to Henry 1898, as interest on all such warrants will cease from
H . Davison, Town Treasurer, Brooklyn, Conn., and and after that date.
must state whether for the whole o r a part, and if a
Dated Ce d a r R a p i d s , I o w a , Feb. 23,1898.
part, for which issue, and the amount bid therefore,
and each bid must he accompanied with a certified
P. W . GIFFO RD , City Auditor.
check on a National Bank fo r two per cent o f the
total amount o f Bonds hid for, payable to the Town
Treasurer.
The asses* ed valuation o f Real Estate and Personal
Property made for taxes by the Town Assessors,
Oct. 1st, 1897, was $1,258,597 and the annual town tax
laid fo r some years past has not exceeded ten and
(Of New Britain, Connecticut.)
one-h alf mills
The outstanding indebtedness o f
the Town February 1st, 18))8, was $30,500, and at an
adjourned m eeting held February 5th, 1898, the
1st
Mortgage
Sinking Fund Cold 5s.
Town laid a tax to reduce the above by about $2,000,
leading the floating indebtedness at about $28,500,
This road has direct connection with the Citv of
which the Town has voted to fund by the issuance Hartford.
o f $28,00" o f fou r per cent BoDds as above voted,
S e r i fo r earnings to Oct. 1,1897, and full descrip
this issue o f $28,000 being its only bonded debt.
tioD j f -operty.
By a vote o f the Town passed February 26th, 1898,
there was appropriated annually, com m encing May
1st, 1901, a sufficient sum to provide a sinking fund
&
sufficient to pay said bonds at their maturity.
JOHN C. W IL L I AMS,
1
19 M ilk Street, Boston, 'In»«.
First Selectman,
H E N R Y H. DAVISON,
Town Treasurer, >Committee.
! § 2 5 , 0 0 o
JAM ES H -M 1TH,
C. S. L. M ARLOR,
7%
Well-secured
1st Mort. Cold Bonds.
FRAN K DAY,
J
TOWN of BROOKLYN,
Windham County. Conn.,
4 PER C E N T BONDS
Notice to Warrant Holders.
8 2 0 0 ,0 0 0
Central HR. & Electric Co.
E. H ROLLINS
SONS,
Maturing in 1 9 0 4 .
Investment Bonds
FOR
New York Savings Banks
and Trustees.
L IS T S
SENT UPON
A P P L IC A T IO N -
MEMBERS OF BOSTON A N D N EW YO RK
STOCK EXCHANGES.
R. L. DAY & CO.,
4 0 W a te r Street, Boston.
1 Broad Street, New Y o r k .
Government a n d
Municipal Bonds
BOUGHT AND SOLD.
APPRA ISEM E N TS M A D E OR QUOTATIONS*
FURNISHED FO R T H E P U R C H A SE ,.SA L E . ORX
EXCHANGE OF A B O V E SECURITIES.
L IS T S ON A P P L IC A T IO N .
N. W. HARRIS & CO.,
BANKERS,
31 NASSAU S T . (Bank of Commerce Bldg.)
ADAMS & COMPANY,
BANKERS
D E A L E R S IN
I N V E S T M E N T BONDS,
Members o f Boston Stock Exchange.
No. 7 Congress and 31 State Streets,
BOSTON
For particulars address
W . J. Hayes & Sons,
BAN KERS,
DEALERS IN MUNICIPAL BONDS,
Street Railway Bonds, and other high-grade in
vestments.
BOSTON, MASS.,
Cleveland, Ohio,
7 Exchange Place.
3 1 1 -3 1 3 Superior St.
Cable Address. "KENNETH.”
CALVIN PHIL PS,
C ALIFO RN IA
TACOM A,
-
UILDING.
W A S H IN G T O N .
W ARRANTS.
Blodget, Merritt 8c Co.*.
BANKERS
T Carefully selected, High-grade State, County, City
and Public School issues, maturing in 6 to 24 months
and earning 5 to 8 per cent our specialty.
16 Congress Street, Boston.
R O B T . E. S T R A H O R N & CO.,
Equitable Building,
Boston, M ass,
STATE, CITY & RAILROAD BONDS*
THE
M a r c h 12, 1898.]
541
T H R O N irL E ,
$992 50 bonds, dated February 7, l*198, one-tenth yearly.
996 00 bonds, dated February 7,1898, one tenth yearly.
1,500 00 bonds o f $500 each, dated February 1,1898. Principal matures one bond
in thirteen, one in fou rteen an d on ein fliteen years from date.of issue.
Saginaw, R ich.—B o n d S a le.—On March 5,1898, the $10,000I 4%refunding bonds were awarded to Jo3e, Parker & Co., Bos|ton, at 104-779. Following are the bids :
For further description of bonds see Chronicle February Jose, Parker & Co., B oston.. .$10,477 90 I Rudolph K leybolte &Co..Ctn.$10,357 0®‘
5, 1898, p. 303.
Longstreet, Stedman & Co.,
I Lamprecht Bros. Co., C ley e.. 10 315 0®'
B oston..
. . . . . . .. . . 10,407 701 R. L. Day & Co., B oston....... . 10,813 9
Portland,' Oregon.—M ayor’s Vet» S u stain ed .—The City
Denison & Prior,Cleye. 10,455 00 |Blake Bros. & Co., B oston ___ 10,231 0
Council has refused to pass over the Mayor’s veto the ordi Dietz,
Estabrook & Co., B oston....... 10,452 00 Second Nat. Bank, Saginaw.. 10,200 0®
W . Harris & Co., Chicago.. 10,427 00 |S. A< Kean. Chicago................ 10,150 0®
nance awarding to Morris & Whitehead, Portland, $400,000 N.
Farson. Leach & Co.,Chicago. 10,412 00 , Sav. Bank o f East Saginaw... 10,150 0®
5% 20-year gold funding bonds at par.
W . J. Hayes & Sons, C lev e... 10,383 00 |
Poughkeepsie, N. Y. —B o n d S ale.—On March 7, 1898, $40,Bonds mature March 1®, 1917. For further description of
030 3}4% 16-year (average) refunding bonds were awarded to bonds see C h r o n ic l e last week, p. 486.
Isaac W. Sherrill, Poughkeepsie, at 102-435. Following are
B o n d s A u th orized .—The Board of Estimates recently au
the bids .
thorized the issuance of $18,000 4%water bonds chargeable to
Isaac W . Sherrill.Poughkeepsie.102‘435 I Dietz. Denison & Prior, C leve... 100-077
N. W . HA'ris & Co., New York. .102'17 |Seymour Bros. & Co., N. Y ...... 100 512 the Eastern Taxing District, and $10,000 4%bonds chargeableEdw. C. Jones Co., New Y ork . .102-115 i W hann & Schlesringer, N. Y ...... 100'61
to the Western Taxing District. Bonds will mature May 1,
Blodget, M eriitt & Co., Boston . 102-04 I George M. Hahn, New Vork
100-4-4
W . J. Hayes & Sons, Cleveland .101-48 I F. R. Bain & Co., Poughkeepsie.100'325 1913.
Falikill Nat. Bank, P o’hkeeosie.lOl'lO |S. A. Kean, Chicago..................... 100'25
St. Cloud, M inn.—B o n d E lectio n .—An. election will be held
P reble County, Ohio.—B o n d S ale.—The County Commis to vote on the question of issuing $25,000 school house bonds.
sioners sold, last month, to A. R. Prugh, of the Commercial
Salem Depot, N. H . —B o n d Meeting.—The question of bor
Bank of Camden, $i 0,000 bridge bonds at 105 52.
rowing $50,0C0 for read improvements will be decided at a
Providence, R. 1.—B on d s A u th orized .—On March 7, 1898, town meeting to be held shortly.
the Common Council passed an ordinance providing for the
Salem, Ohio.—B o n d S ale —Following are the bids received
issuance of $400,000 sewer funding bonds.
March 8, 1898, for the $2,900 6# sewer bonds:
Quincy, 111. — B o n d E lectio n . — An election w ill be held Seasongood, Mayer & Go., Cin.$3,131 75 I The New First National Bank,
April 5, 1898, to confirm the sale of about 1303,000 4# refund W . J. H ayes & Sons, Cleye...... 3,107 00 I C olum bus........................ ........$3,062 8 5I The Lamprecht Bros.Co.,Clev. 3,041 89
ing bonds to the First National Bank, Chicago, at par. B.nds
will mature $40,000 July 1, 1909; $20,000 July 1, 1911; $20,000
Bonds will be awarded to Seasongood & Mayer, Cincinnati,
July 1, 1912 ; $20,000 July 1, 1913 ; $20,000 July 1. 1914 ; $20.- at their bid of 107-96. They will mature $290 yearly on April
000 July 1, 1915 ; $20,000 July 1, 1916 ; $60,000 July 1, 19,7 ; 1 from 1899 to 1908, inclusive. For further description of"
$80,000 July 1, 1918.
bonds see Chronicle March 5, 1898, p. 486.
Reading, Pa. - B o n d Offering.—Further details are at hand
San Rafael (C al.) School D istrict.—B o n d E lectio n .—A n
concerning the propcsed sale of $100,000 street paving election will be held March 26, 1898, to vote on the question
bonds, bids for which w ill be received until 7 p . m . March 16, o f issuing $15,000 high-school bonds.
1898, by H. H. Hammer. City Clerk. Bonds are in denomin
South Hadley F alls (Ma*s.) F ire D istrict.—B o n d s A u
ations of $1,000, dated April 1, 1898. Interest will be at 4$, th orized a n d S old .—A t a meeting of the district held M arch
payable April 1 and October 1. Principal will mature $20,003 5, 1898, the Treasurer was authorized to borrow $10,000 fo r
on April 1 of the years 1903, 1908, 1913, 1918 and 1923. A cer ten years at 4%interest. The Treasurer was also authorized
tified check for 5# of ths amount bid for must accompany to borrow $20,000 for thirty years at 4%for the purpose of re
proposals.
funding a loan maturing April 30, 1898. The bonds have been
R ock v ille Centre, N. Y.—B o n d s A u th orized .—The village sold to E. H. Gay & Co., Boston.
trustees recently authorized the issuance of $2,000 bonds
Syracuse, N. Y.— T em p orary L o a n .—The city has negoti
bearing more than 5% interest, for the purchase of a con ated a loan of $100,000 with the Onondaga County Savings
denser and other improvements of the lighting plant.
Bank, Syracuse, at 3-65$. Loan matures Nov. 15, 1898.
IN V ESTM EN TS.
^ 9 0 ,0 0 0
San Luis Potosi Electric Oo.
FIRST
M O RTG AG E
IN V ESTM EN TS
NEW YORK
3 1% Park Bonds
6% GOLD BONDS.
Full particulars with Special Circular on
Application.
PRICE TO MET 6$.
STATE
FOR
SAL E B Y
Farson, Leach & Co.,
NO. 2
WALL
STREET.
WHANN & SCHLESINGER
MUNICIPAL BONDS.
Legal investments fo r Savings Banks in New York
and all New England.
Rudolph Kleybolte & Co,,
B AN K E K S ,
3 5 and 3 7 Nassau Street, New Y ork .
Cincinnati.
Philadelphia.
L IS T S M A IL E D UPON A P P L IC A T IO N .
E.
MUNICIPAL BONDS.
C. S T A N W O O D & Co.
BAN KERS,
121 Devonshire Street.
BOSTON.
B U Y AND S E L L
T E X A S MUNICIPAL BONDS.
BANK STOCKS.
R. N. MENEFEE & CO., BANKERS,
CHARLES W. ROSENBERGER,
I S W a ll Street, N ew Y o r k .
L ISTS ON A P P L IC A T IO N .
D WILSON ^STEPHENS
S *41 W A L L ST ., N E W Y O R K .
W illia m E . N ich ols,
-
NEW YO R K .
SEND FOR
LISTS.
American Express Co.
Established. 1841.
Capital, $18,000,000..
65 BROADWAY.
State, Municipal, County, School
BO N D S.
N
MUNICIPAL W ARRANTS.
3 1 N A SSA U S T ., N E W Y O R K .
HIGH-GRADE
B RAILROAD
O
and MUNICIPAL
15 W A L L STREET,
C. H. WHITE & CO.,
BANKERS,
M IS C E L LA N E O U S .
ii W A L L
STREET,
NEW
YORK.
SYRACUSE
RAPID TRANSIT
RAILWAY
BONDS
Bought and Sold.
ED W A R D ® . JO N E S CO.
N EW YO RK ,
P H IL A D E L P H IA
- 1 NASSAU STREET,
CINCINNATI.
Issues TRAVELERS CHEQUES imme
diately available as funds everywhere.
Draws FOREIGN DRAFTS in Sterling,.
Francs, Marks, and Money Orders,,
on all parts of the Commercial World.
Makes CABLE TRANSFERS of money
to England and the Continent.
These facilities are obtainable at alb
offices of the Company.
SECURE BANK VAULTS.
MASON, LEWIS & CO.,
BAN K ER S,
6 7 M ilk Street, Boston,
1 7 1 L a Salle Street, Chicago,
OFFER FOR SALE
Stow e, Vt . .................................
*3edalia, M o.......................................................4)4s
Trinidad, Col. (Gold).....................................5s
L ak e County, lu d ...........................................5s
South Omaha, Neb......................................... 5s
Mouience, III...................•■•...•........................ As
Bangor & Aroostook R R . First Mortg.. ,5s
The Akron G as Co,, A kron, O ., 1st M tg.5s
WELDED CHROME STEEL AND IRON
Round
4 s and Flat Bars and 5-plv Plates and Angles
FOR SAFES. VAUT.TS, Ac.
Cannot he Sawed. Cut or Drilled, and positively«
Burglar P roof.
CHROM E STEEL W O R K S ,
Kent A ve., Keap & n o o p e r Sts.
Sole Man’f ’ers.ln the U. S. B R O O K L Y N , N .. Y ’
THE
542
< H RON K LE.
Terre Haute (lu d .) School D istrict.— B on ds P ro p o sed .—
The School Board has under consideration the issuance of
$50,000 bonds. The Finance Committee recently decided to
refer to legal authority the question whether such bonds
would be considered a municipal obligation, inasmuch as the
present city indebtedness is within $10,( 00 o f the debt limit
as fixed by law, which would prevent the issuance of the
bonds.
T errell, Texas.—B on d O ffering.—Proposals w ill be re
ceived until March 25, 1898, for $12,000 5% 40-year water
works bonds. Securities are in denominations of $1,000,
dated April 1, 1898. Interest will be payable April 1 and
October 1 at the Seaboard National Bank, New York City.
T oledo (O hio) School D istrict.—B o n d S a le.—On March 7,'
1898, the $90,000 bonds were awarded to Mason, Lewis & Co.,
•Chicago, at 106*08 for 4 per cents. Bonds mature $45,000
March 7,1928, and $45,000 March 7, 1928. For further de
scription o f bonds see Chronicle January 29, 1898, p. 253.
Tucker County, W. Ya.—B o n d E lection .—An election will
be held on March 29, 1898, to vote on the question of issuing
$30,000 court-house bonds.
Tucson—Prescott, A riz.—T errito ria l B ill P erm ittin g B o n d
Issu es.—The bill recently signed by the President allowing
■cities of over 1,000 population within the territories to issue
bonds for public improvements was pushed especially, it is
stated, in the interest of Tucson and Prescott, Ariz., which
cities w ill immediately take advantage of the provisions of
the bill, and call bond-issue elections. Both wish to install
sewer systems and adequate municipal water works.
Wayne, Neb.—B on d s P ro p o sed .—The question of calling
an election to vote on the proposition to issue $6,000 electriclight plant bonds is under discussion.
W ellesley, Mass.— T em porary L o a n .—The Treasurer has
negotiated an eight months’ loan o f $10,000 with Bond &
•Goodwin at 3*19# discount.
West Orange, N. J.—B o n d S a le — On March 8, 1898, the
$50,000 4$ gold bonds were awarded to the Franklin Savings
Institution of Newark at 102. Following are the bids:
inclusive. For further particulars see Chronicle of last
week, p. 487.
W ilbarger County, T ex.—B on d s R eg istered .—On March
1, 1898, the Comptroller registered $33,000 county refunding
bonds.
W illiam sport, Pa.— B on ds D efea ted .—A t a meeting of the
Common Council held recently an ordinance providing for
the issuance of $25,000 bonds for the improvement of Grafins
run was defeated.1
W ise County, Texas.— B on d s A p p rov ed .—On March 3,
1898, the Attorney-General approved for registration $5,000
court-house bonds.
W orcester, Mass.—Bids.—Following are the bids received
for $200,000 4% registered sewer bonds maturing Jan. 1, 1927:
W ilson & Stephens, New Y ork..100-75
Franklin Sav. Ins. Newark........ 102-00
.100-608
Bdw. C. Jones Oo., New Y ork ... 101-515 Dan’1 A . Moran & Co., N. Y
Parson, Leach & Co., New York 100"281
W alter Stanton & Co., N. Y .......101*28
Bonds mature $5,C00 yearly on April 1 from 1913 to 1922
Adam s & Co., B o sto n .. ...............114-58 I Estabrook & Co., B oston ...............113*55
Blodget, Merritt & Co., B oston... 114-29 |W inslow & Allen, B oston.............111-06
A ll bids were rejected, according to local reports.
W yandotte, M ich.—B o n d E lec tio n .—An election has been
called for the purpose of voting on the question of issuing
$30,000 sewer bonds and possibly $7,000 water-filter bonds.
Yonkers, N. Y.— B on d S a le.—On March 9, 1898, $5,000 4%
2-year assessment bonds were awarded to the First National
Bank, Yonkers, at 100*90. Following are the bids:
First National Bank, Y on kers.... 100"90 P eople’s Sav. Bank, Y onkers.......100-81
Yonkers Sav. Bank, Y onkers...... 100"90
York (P a ) School D istrict.—B o n d S a le.—'The $68,000 4%
school bonds were recently awarded to W . J. Hayes & Sons,
Cleveland, at 105*78.
Youngstown, O h io .-B o n d S a le.—On March 7, 1898, the
$R.4n0 5% sewer bonds were awarded to the Mahoning Na
tional Bank, Youngstown, at the following prices :
$3,300 Falls Avenue sewer bonds, maturing $1,100 yearly, beginning October 1,
lf-99. at 102*424.
1,000 Carroll Street sewer bonds, maturing $300 October 1.1899 and 1900, and
$400 October 1,1901, at 102*50.
700 Lydia Street sewer bonds, maturing $200 October 1,1899 and 1900, and
*300 O ctober 1,1901. at 102*428.
400 Mill Street sewer bonds, maturing $100 October 1,1899 and 1900, and $200
October 1,1901, at 102*50.
Following are the bids :
$3,300
Bonds.
Mahoning National Bank, Youngstow n......$3,386 00
Fireman’ s Pension Fund Trustees................ 3,378 88
Seasongood & Mayer, Cincinnati................... 3,366 75
3,366 00
Mansfield Savings Bank......
Rudolph Kleybolte & Co., Cincinnati............ 3,337 50
g a w k ütatcmcxxts
If tuant i al.
"D E P O R T OF T H E CONDITION OF T H E
The Audit Company
A X AM ERICAN EXCHANGE N ATIONAL BANK,
at New York, in the State o f New York, at the
Close o f business February 18.1898:
OF NEW YORK*
Equitable B uilding, 120 Broadway.
A cting President,
AUGUST BELMONT,
Manager,
THOMAS L. GREENE.
Consulting
W . B. PARSONS.
Chief o f Corps o f Eng’rs,
H E N R Y B. SEAMAN.
Vice-President.
W IL L IA M A . NASH.
Chief Consulting A uditor
STEPH EN L IT T L E .
Engineers,
F. S. PEARSON.
Secretary and Treasurer,
E D W A R D T. PERINE.
DIRECTORS:
A. J. Cassatt,
August Belmont,
Marcellus Hartley,
Frederic P. Oloott,
Charles R. Flint,
James Stillman,
George Coppell,
William A. Nash,
G. B. M. Harvey,
Joseph S. Auerbach,
John I. Waterbury,
George G. Haven,
George W . Young.
T ota l...................1.......... . . . . . ..............$41.759,691 96
ADVISORY COMMITTEE
of Stockholders :
LIABILITIES.
Capital stock paid in ................................. $5,000,000 00 W . Bayard Cutting,
T. Jefferson Coolidge, jr
Surplus fu n d ................... (.......................... 2,250,000 00
Walter G. Oakman,
Charles S. Fairchild,
Undivided profits, less expenses and
taxes paid .........................
335,937 42 A. D. Juilliard,
Gustav E. Kissel,
National bank notes outstanding.......... 3,788,320 00
Isaac N. Seligman,
Due to other national banks................... 5,904,202 56 Henry W. Poor,
Due to State hanks and bankers.. . . . . . . 3,370,220 12 Louis Fitzgerald,
Robert Maclay.
Dividends unpaid. ...................................
5,678 00
The Audit Company examines and reports
Individual deposits subject to ch eck ... 18,647.544 04
Dem and certificates o f deposit.............
66,893 48 upon the accounts and financial condition of
Certified checks.......................................... 1,618,105 58
Cashier’s checks outstanding..................
472,790 76 corporations, copartnerships and individuals,
U nited States deposits.............................
300,000 00
and examines and reports upon the physical
T otal...................................................... $41,759.691 96 condition of railroad, manufacturing and
State o f New York, County o f New York, ss:
other properties.
I, E D W A R D BURNS, Cashier o f the above-named
Its services are of value to investors, flnan
hank, do solemnly swear that the above statement
is true, to the best o f my knowledge and belief.
cial institutions, borrowers of money, directors
E D W A R D BURNS, Cashier.
Subscribed and sworn to before me this 26th day of corporations, merchants, firms and pur
o f February, 1898.
W m . I ves W ash bu rn ,
chasers of properties.
Notary Public, N. Y. County.
Correct—A ttes t:
JNO. T. T E R R Y ,
)
H E N R Y W . M A X W E LL, ^Directors.
DUMONT CLAR KE .
\
J.
Spencer T u rner,
SUCCESSOR TO
B r in c k e r lio if, T u r n e r & C o .,
M AN U FACTU RER AND D E A LER IN
COTTON SAIL DUCK
BANKERS,
18
W ALL
STREET,
NEW
YORK.
Establlsh«il 1 8 6 5 .
MEM BERS OF N EW YORK STOCK EXCHAN G E
A llow Interest on deposits subjoct to sight chec*
B uy and sell on commission, stocks and bonds either
fo r cash or on margin, and deal in
Investment Securities.
H /*J. MORSE. CHAS D. MARVIN. W
M KlDDEB
$1,000
$700
$400
- Bonds.
Bonds. Bonds.
$1,025 00 $717 00 $410 00
1,024 00 ' 716 87 409 64
1,02115
714 50
1,020 00
714 00
1,007 50
700 80
ptisceXXatxcaus.
G ilm an ,
Son
&
C o .,
BANKERS,
R E S O CJUCES.
Loans and discounts.............. ................ $20,218,390 88
Overdrafts, secured and unsecured. . . , .
17,655 83
Um ted States bonds—
4s o f 1907........................ $2,150,000 00
4s o f 1925.,..................... 1,350,000 00
£g......................................
1,500,000 00
---------------------- $5,000,000 00
Premiums on IT. S. bonds.........................
513.000 00
Stocks, securities, e tc .............................. 1,489,756 63
Banking house, furniture and fixtures.
300,000 OO
Other real estate and mortgages owned
44,039 20
Due from national banks (not reserve
agents)..................................................... 2,930.956 85
Due from State hanks and bankers.......
466,386 51
Checks and other cash item s..................
160,674 13
Exchanges for Clearing-House.............. 2,949,394 48
N otes o f other National ban ks.. . ... . . . .
4,600 00
Lawful money reserve in hank, viz:
Specie.................
*2,231,587 95
Legal tender n otes........ 1,983,000 00
U. S. certificates o f de
posit fo r legal tenders. 3,250,000 00
------------------- 7,464,587 95
Redemption fund with U. S. Treasurer
(6 per cent o f circulation)........ ..........
200,250 00
V ol. L X V I.
AND ALL KINDS OF
COTTON CAN VAS FE LTIN G DUCK
CAR COVERING BAGGING
R AV E N S DUCK, SAIL TW IN E , &C.,
POPE “ A W N IN G ’’ STRIPES.
AGENT
N O . 6 2 € 5 5 » A IS S T R E E T , N . ¥ ,
In addition to a General Banking Business, Buy
«no Sell Government Bonds and Investment Se
curities.
8M M IL E S N O R F O L K TO OCEAN V IE W
STAN DARD GAUGW, ELECTRIC P O W E R .—
3pecial Commissioners’ sale o f the N orfolk & Ocean
View Railroad, Its Property and Franchises, includ
ing the Ocean View H otel Property.
Pursuant to a decree o f the Circuit Court o f the
United States fo r the Eastern District o f Virginia,
we shall sell at Public Auction in fron t o f the Cus
tom H o u se / Norfolk, Virginia, on W ednesday the
23d day o f March, 1898, at 12 o ’clock M., the above
referred to property.
For further inform ation apply to W . W . OLD,
C ALD W E LL H A R D
pecial Commissioner
Norfolk Va.
dank and Trust CompanyStock
New York and Brooklyn
BOUGHT A N D SOLD.
CLINTO N G IL B E R T
2
W ALL
S T ..
NEW
T h e M utual
YORK.
Benefit
L IF E IN SU R A N CE CO., N E W A R K , N. J .
A M ZI DODD, President.
Assets (Market Values') Jan.l, 1898.......$63,649,749 84
Liabilities (N. J., and N. Y. Standard).. 58,864,824 60
Surplus......................................................... 4,784,925 24
POLICIES ABSOLUTELY NON-PORPEITABLE AFTER
SECOND YEAR.
I n cape of lapse the Insurance is continued in
force as long as the value of the Policy will pay for;
or. if preferred, a Cash or Paid-up P olicy Value is
allowed.
A fter the second year Policies are I ncontestable ,
and all restrictions us to residence, travel or occupation
are removed.
The Company agrees In the P olicy to Loan up to
the Cash Surrender Value when a satisfactory as
signment o f the Policy is made as collateral security.
L osses paid immediately upon completion and ap
proval of proofs.
W M . FRANKLIN HALL,
A cc o u n ta n t
boston, m a s s ,
Books audited. Examinations and investigations
®®aducted with the utmost care and efficiency.
■RANK OF C H A R L E S T O N .
UNITED S T A T E S BUN TIN G CO.
X ) N A T IO N A L B AN KIN G ASSOCIATION,
C H A R L E S T O N , SO. C A R .
A full supply all W idths and Colors, always in
C
A P IT A L ............................................................. $300,000
Stock.
„
_
,
s u r p l u s ...................... ........................ ...... $100,000
1 0 9 Duane Street, New Y o r k .
409 10
408 00
400 00
Margh 12, 1898.]
THE
Jtxswvatxce,
CHKONICLE.
ïx
Jtfitmiixial.
(tio m p K n U s .
The Merchants’
Loan & Trust Company,
Chicago.
BA N K IN G HOUSE OF
O F F IC E OF T H E
HAIGHT & F R E E S E ,
ATLANTIC MUTUAL
53 B R O A D W A Y , N EW YO RK .
Boston, 85 State St.; P h iia M p h ia , 402 W alnut St.
INSURANCE CO.
N e w Y o r k , January 21,1 8 98 .
The Trustees, in conformity with the Charter
of the Company, submit the following statemont of its affairs on the 31st of December,
1897:
Premiums on Marine Risks from
1st January, 1897, to 31st De
cember, 1897............ ................ $2,844,038 61
P re m iu m s on Policies not
marked off 1st January, 1897. 1,047,955 31
Total Marine Premiums............ $3,891,993 92
Premiums marked off from 1st
January, 1897, to 31st Decem
ber, 1897.............. j...................... $2,653,653 09
Losses paid during
the same period.$l ,425,630 20
Returns of
Premiums
& Expen’s .$684,939 39
E xecute orders in S to c d F Bonds, Grain, Cotton
and Provisions on the N ew fi ork, Philadelphia, Bos
ton and Chi' ago Grain and Stock Exchanges fo r in
vestment o r to be carried on margin o f 3 to 5 per
cent at moderate rates o f interest and 1-16 commis
sion. Interest allowed on margins and deposits sub
je ct to check at sight.
D E T E R M IN IN G T H E FINANCIAL. R E .
S P O N S IB 1 L IT Y OF T H E F IR M W IT H
W H IC H Y O U D E A L IS A S IM P O R T A N T
AS SEL E C T IN G T H E R I G H T S T O C K S .
P riv a te w ires t o B o sto n , P h ila d e lp h ia a n d C h ica go.
Branch Office, 1 1 3 2 Broadw ay, New Y o rk .
185<>*
T h e U nited States L ift
....PK5KS
FINANCE COMMITTEE:
J. H. CHAPMAN, Secretary.
joKHNGj. T u c K ^ s;;;;;;;;;Pres- Chem- Na^
INVESTMENT SECURITIES,
Southern Securities a Specialty.
15 W A L L S T R E E T .
NEW Y O R K .
J. P. Wintringham, 86 Pine St., N. Y.
A T L A N T IC M U TU AL SCRIP wanted.
Send us your orders fo r LOCAL SECURITIES
either at private SALE or AUCTION
W & x ïtiïip
Henry E. Hawley,
John D. Hewlett,
Charles D. Leverich,
Leander N. Lovell,
James Low,
W. H. H. Moore,
Charles H. Marshall,
George H. Macy,
Frederio A , Parsons,
George W. Quintard,
JohnL. Riker,
A. A. Raven,
N. Denton Smith,
Lawrence Turnure,
Paul L. Thebaud,
Christian de Thomsen,
Gustav H. Schwab,
H. Webb.
j A . A. RAVEN, President.
F. A. PARSONS, Vice-Pres’ t.
CORNELIUS ELDERT, sci Y ïc è P r e s ’ t.
THEO. P. JOHNSON,3 d Vice-Pres't.
e*
EDWIN R. LANCASTER,
TRUSTEES:
Gustav Amsinck,
Joseph Agostini,
Vernon H. Brown,
Waldron P. Brown,
William B. Boulton,
Francis M. Bacon,'
Charles P. Burdett,
George Coppell,
Joseph H. Chapman,
James G. De Forest.
William Degroot,
William E. Dodge,
Everett Frazar,
Edward Floyd-Jones,
Horace Gray,
Anson W. Hard,
Clifford A. Hand,
William
w
D IR E C T O R S :
Marshall Field,
Lambert Tree, P eter L. Yoe
C. H . McCormick, John DeK oven, E. M. Phelps.
John W . Doane, A . H. Burley,
Orson Smith,
A lbert Keep,
E. T. Watkins. M. J. W entw orth
Edmund D. Hulbert.
Authorized by la w to accept Trusts and
receive deposits of Trust Funds. Acts a s
Executor, Adm inistrator, Guardian, Con
servator, R egistrar and Transfer Agent.
IJjcrtftft ^ m x x i a m
X x x is t
< & om pm x% r
100 B R O AD W AY, NEW Y O R K ,
95 GRESH AM STREET, LONDON, E.
C A P IT A L ., $ 1 ,0 0 0 ,0 0 0 .
Insurance C o .
w
ORSON SMITH, President.
E. D. H U LBE R T, Vice-President.
J. G. ORCH ARD, Cashier
F. N. W IL D E R , Assistant Cashier.
1898.
IN T H E C I T Y OF N E W Y O R K .
A ll policies now Issued by this Compan)
contain the follow ing c l a u s e s 1
“ A fter one year from the date of Issue,
the liability of the Company under this
policy shall not be disputed.”
“ T his policy contains no restriction
The Company has the follow
w hatever upon the Insured, in respect
ing Assets, viz.:
either of travel, residence or occupation.”
United States and City of New
A ll Death Claims paid W IT H O U T D IS .
COUNT as soon as satisfactory proofs hav<
York Stock : City Banks and
been
received.
other Stocks.................................... $7,330,895 00
Loans secured by Stocks and
Active and Successful A gents, wishing U
represent this Com pany, m a y com m uniotherwise..................................... 1,157,000*00
cate w ith the President, at the H om e
Real Estate and Claims due the
Office, 2 6 1 B roadw ay, New York.
Company, estimated at.................. 1,121,500 00
OFFICERS:
Premium Notes and Bills Re
ceivable....................................... 1,026,605 97
286,424 11 a
Cash in Bank......................................
S
f
e
' ...... s a a a - i » £ ?
Arthur c perry. ^ ::;:::::::............ c tta i
Amount........................
..$10,922,425 08 john p. munn..........;....:::::iMediikVDhlctm
Six per cent interest on the outstanding cer
tificates of profits will be paid to the holders
thereof, or their legal representatives, on and
after Tuesday, the first of February, next.
The'diminished income yielded on investments
in recent years may in the future render neces
sary a reduced rate of interest on certificates.
The outstanding certificates of the issue of
1892 will be redeemed and paid to the holders
thereof, or their legal representatives, on and
after Tuesday, the first of February next, from
which date all interest thereon will cease. The
certificates to be produced at the time of pay
ment, and canceled.
A dividend of Forty per cent is declared on
the net earned premiums of the Company for
the year ending 31st December, 1897, for which
certificates will be issued on and after Tues
day, the third of May, next.
By order of the Board.
C A P IT A L AND SU R P L U S, - $ 3 ,5 5 0 ,0 0 0
UN D IVID E D P R O F IT S , $ 2 0 0 ,0 0 0 .
Authorized to act as Trustee, G uardian,
Assignee and F iscal Agent.
A ll conservative trust company business
accepted.
SAM UEL M. JA R V IS, President.
ROLAND R. CONKLIN,
E. J. C H APPE LL
Vice-President.
L ondon Treasurer
S. R. H A R B E R T ,
S. L. CONKLIN
London Secretary.
Secretary.
The Investment Company
of Philadelphia,
3 1 0 C h estn ut St., P h ila d e lp h ia ,
Paid-Up Capital,
-
-
$ 8 0 0 ,0 0 0
This Company undertakes the negotiation and
issue o f loans and capital o f Companies on the New
York or Philadelphia Market and will make ad
vances upon approved Corporate, Personal or Real
Estate Security.
Under its charter rights it will act as Trustee,
A gent or Manager fo r the control o f corporations
or fo r the construction o f pu b lic or private works
Wisconsin
Trust
Co.
M I L W A U K E E , W IS .
C ap ita l,
-
-
$250,000 Off
Transacts a General Trust Business*
Investment Securities for Sale.
g a p x r .
w
THE
Z
CHRONICLE
[V ot. LXVI.
^ fin a n c ia l.
ffitn r o c ia l.
R o lle r n .
W . T ., H a tch
WOODWARD
&
Sons,
BANKERS AND BROKERS,
& S T IL L M A N ,
COTTON
MERCHANTS
46 to 22 WILLIAM STREET*
SHEW
Chas. Forchile! & C o .,
»6 Broadway & 6 W all St., New York;
H igh-Grara Investments,
Members o f N. Y . Stock and Produce Exchanges.
2 9 W a ll Street, N e w Y o r k .
Mem bers
YORK.
N ew Y ork
S to c k
E xchange.
Dealers n investment stocks and bonds.
Personal attention g ven at the New York Stock
E Echange fo r the purchase and sale on commission
o f stocks and bonds fo r cash or on margin
•COTTON OP ALL GRADES SUITABLE TO
WANTS OF AMERICAN SPINNERS.
I iBHUAN, 8tern & Co., Lim ited, New Orleans, La.
LEHMAN-Du b b Co ., Montgomery, A la.
L E H M A N
c o m r issio n
BRO S.,
m e r c h a n ts
,
Nos. 16-22 William Street*
NEW
YORK.
HAVEN & STOUT,
BANKERS AND BROKERS,
1 Nassau Street, Corner Wall Street,
F.
H.
Prince
&
C o,
BANKERS 1
C N EW YO RK STOCK EXCHANGE,
Members o f | N EW YO RK COTTON EXCHANGE,
[ CHICAGO B OARD OF TR AD E.
B O S T O N , MASS.
Orders executed on above Exchanges in
•MEMBERS OF THE STOCK, COTTON, OOFFEE AND PRODUCE EXCHANGES,
NEW YORK
BONDS, STOCKS, COTTON, GRAIN.
H I0 H »R A D E INVESTM ENTS
© x r tttfn .
Members o f New York and Boston Stock Exchanges
Orders executed on the above Exchanges, as well
In New Orleans, Chicago and foreign markets
H en ry H e n tz & C o ,
CO M M ISSION
M ERCH ANTS,
R I O R D A N & C O .,
1 6 to 2 2 W illia m Street, New Y o r k .
E XE C U TE ORDERS FOR FU TU RE D E L IV E R Y
C O T T O N ,
A t the New York, Liverpool and New Orleans
Cotton Exchanges. A lso orders for
C otton , Grain,
C O F F E E ,
BANKERS,
M o. 1 0 W A L L S T R E E T ,
M EW Y O R K .
NEW YORK.
DEALERS in
INVESTMENT and MISCELLANEOUS
SECURITIES.
AND PR OVISIO NS,
S o u th e rn S e cu ritie s a S p e c ia lty .
A t the New York Produce Exchange
and the Chicago Board o f Trade.
H o p k in s, D w ig h t & C o ., H ubbard
Bros.
COTTON, COTTON-SEED O IL
H anover Square,
ANT
NEW YORK.
SO U T H E R N PRODUCE
MERCHANTS,
Roam 9 2 , Cotton Exchange Building.
COTTON
A . S. V an W ic k le ,
& C o .,
Coffee Exchange Building,
COMMISSION
R . A , Lancaster & Sons,
43 COTTON EXCHANGE,
A t the New York Coffee Exchange, and
«R A IN
Stocks,
BANKER,
No. 1 BROADWAY, NEW YORK.
IN V E S T M E N T S E C U R IT IE S .,
E merson
Lucius Hopkins Smith,
8amuel Hopkins.
COMMISSION MERCHANTS.
Cotton, Grain, Provisions and Coffee.
L iverpool Correspondents .
Frederic Zerega
«Bremen Correspondents ,
Co.
McFadden, Zerega <fc Co.
M. T . MAINE.
WM. RAY.
G eo. Copeland & C o .,
COTTON B R O K E R S ,
1 2 » P e a r l S tr e e t,
N ew Y o r k .
Cotton landed at mills from Southern markets a
«•specialty. Orders for future delivery contracts
'executed on New York Cotton Exchange.
COTTON EXCH AN GE BUILDING,
N E W YORK.
Pa u l Schwarz.
G. H oward W ilson .
Paul Schwarz & C o .,
COTTON COMMISSION MERCHANTS.
1 W illia m Street, New Y o rk .
Members
N ew
York Cotton and Coffee E xchange.
LO CO M O TIVESRichmond Locomotive &Machine Worki
RICHMOND, VIRGINIA*
M ason Smith & C o .,
SIMPLE OR COMPOUND LOCOMOTIVES
T H E IR OWN DESIGNS OR TO SPECIFICATIONS
COTTON COMMISSION MERCHANTS,
MLodernly equipped shops*__ .
Annual capacity 3 0 0 locemotrrei
Terms made satfsiactory* „
_ __ _ _
Correspondence Solicited
N E W O R L E A N S, L A .
M E M P H IS , TENN
DALLAS, T E X .
Buyers o f Spot Cotton. Orders for Contracts exe
r t e d In the New Orleans, New York, Liverpool and
H avre Markets.
______________________
G
eo.
W.
b a il y .
J. A . M o n t g o m e r y
Baily & M on tgom ery,
COM M ISSION M ERC H A N TS,
«CNetton Exchange Bldg.
NEW Y O R K .
E xecute Orders fo r future Delivery o f Cotton *
Grain and Provisions
Fifth A venue H o te l,
B. W ilson
& C0.1
4 0 W A L L S T R E E T , NEW Y O R K ,
Liberal Advances M ade on Cotton
Consignments.
«Geo. H. M°Fadden & Brov R. H. ROUNTREE & CO.,
COTTON M E R C H A N T S,
P H IL A D E L P H IA .
henry
M E R C H A N T S . Emerson McMillin
N EW YO RK
Gustavus C. Hopkins,
Charles D. Miller.
m cm illlin .
D E A L E R S IN
GAS W O R K S , STREET R A IL W A Y S
AND INVESTM ENT S E C U R IT IE S,
BAN•KS.
i
i■
FIRST NATIONAL BANK
O F M IL W A U K E E .
C A P IT A L ,
S U R P L U S,
-
1
- ____ -
-
8 1 ,0 0 0 ,0 0 0
8 2 5 0 ,0 0 0
Transacts a General Banking and Foreign Exchange
Business. Collections receive Special A ttention.
OFFICERS:
F. G. B ig e l o w , Pres’t.
F. J. KI p p , Cashier.
W m . B ig k l o w .V .-P res’t. T. E. Ca m p , Ass’t Cashier.
F . E. K r u e g e r . 2d A ss’t Cashier.
San Francisco.
Bank
T h e First N ation al
O F SAN F R A N C IS C O , C A L .
UNITED STATES D EPOSITARY.
Cavitai, 8 1 ,5 0 0 ,0 0 0 I Surplus,
8 9 5 0 ,0 0 0
S.
G. M u r p h y , President, J a s . K. L y n c h , Cashier
Ja m b s M o c t it t , V.-Pres., J. K. Moffitt , A st. Ca»m
General Banking Business. Accounts Solicited.
Madison Square, New Y ork.
The largest, best appointed and most liberally
managed hotel in the city, with the m ost centra
and delightful location’
HITCHCOCK D A R L IN G & CO.
Haskins
&
Sells,
Certified Public Accountants,
NO. SO B R O A R ST., A JETT Y O R K .
Canal Bank,
NEW
ORLEAN S, L A .
(Successor'of N. 0 . Canal & Banking Co.)
C A P IT A L , 8 1 ,0 0 0 ,0 0 0 .
A
J. C. MORRIS, President. E D W A R D TOB Y. V ic e Pres. E DGA R NOTT, Cashier
Correspondents—National City Bank, Nationa
Bank o f Commerce, New Y ork ; Boatmen’s Bank*
St L ou is; N. W . National Bank, C hicago; Mer„
chants’ National Bank Boston
@FedFRASER