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HUNT'S MEHCHANTS' M/IGAZINB.
RErRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE Ul^ITED STAtES.
VOL.
SATURDAY, MARCH
28.
CONTENTS
might
THB CHRONICLB.
.
|
THE BANKERS' GAZETTE.
XoncT Market, U
!0S
TnS COMMEKCTAL
Commercial Epitome
Cotton
a(W
303
|
a time
trade
all
have
been enfiicient to disorganize
Great Britain; but coming at
industries were greatly depressed, and
itself
when
of
under circumstances leaving
recovery
717.
little
hope of
material
in value, it attracts especial attention.
Adver-
always makes a community critical and progressive.
English merchants are consequently in the very position
sity
Qnotations of Stocks and Bonds.. 296
New Yo k Local SccnritiCK
SV7
luTe^tmeuls, and State, City and
Corporallon Finances
298
Secaritiea,
S.
Stocks, Gold Market,
Foroisn Exchuuge, N. T. City
Banks, etc
Itailway
of
the entire
Congrrra and Sllrer Coinage..
S8BI Latest Monetary and Commoroial
EnjrIlRh -^ews
290
"Lawful Money'* not "Legal
Tender"
2^6 Commercial and Mieccltaneoaa
892
Proloction in Canada.
News
887
Notice* or Uooks
iiB
NO.
22. 1879.
TIMES.
Breadstnffs
808
309
Dry Goods
most suitable for entertaining and a.lopting advanced
opinions.
Many of the most thoughtful among them,
therefore, are beginning to see how directly and decidedly the decline in silver
is
helping to embarrass
all
their
dealings with silver-currency countries, and to openly
The Commrucial and
day morning, mth the
FiK.*.NCtAL
latest
Chronicle w
news up
to
isstud
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be continued until ordered stopped by a written order, or
at the pudiicaiion office. Tlie Publishers cannot be responsible for Remittaneee
anle;«8 made b> Drafts or P.st-OtHee Money Orders.
and earnestly advocate a bi-metallio monetary system
for Great Britain, as the only road to recovery from the
present depression. In illustration of this fact we would
refer to the meeting of the Manchester Chamber of
Commerce, held on the 6th of March. A leading Liverpool merchant, writing to New York on that day after
will
attending the meeting, says:
"
liOndon
Office.
The London oDSce of the Chronicle is at No. 5 Austin Friars, Old Broad
Street, wtierv subscriptions will be taken at the prices above named.
AdTertisements.
Transient advertisements are published at 25 cents per line for each insertion,
but when definite orders arc ?iven for five, or more, insertions, a liberal discount is made. Special Notices in Banking and Financial column 60 cents per
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neat file-cover
Volumes bound
on
the
same
of distress is causing attention to be directed to the
Silver question,'
system."
We have
several times of
late
been asked
why
Enjs-
land should be so deeply interested in the decline of
silver.
This subject is very familiar to most of onr
is
18
In the first place, England loses largely in her
India revenue; also every officer or Englishman living in
India loses on the portion of hi« salary which he does not
readers.
Ooxmbroial and Fit? AMriAL Chroniclw—
tu date—or of Hunt's MaacuaNTs' Maoaziiik, lijlt lo li>7l, iivqmre
For a complete
The extremity
and Mr. Williamson and Hr. Samuel Smith met tlM
Manchester Chamber of Commerce to-day and fully set their viewn
before them. Public opinion in this country ia slowly chantcing, and vc
would not be surprised to see, before long, a strong movement in favor
of joining France and the United States in establishing the bimetallic
'
set of the
July, tSiVt
at tne office.
spend there; but more than all, every merchant who
bill of goods to India, or to any other silver-payWe have a lesson in the con.stant fall in the price of ing country, suffers a severe loss. English prices are, of
silver, aud the iDfliience it is having on public opinion in course, in sovereigns; the India trader pays in rupees; the
Great Britain, which, if our legislators would heed, Manchester merchant, therefore, mast turn his mpees
might be of considerable service lo the country. There into sovereigns, and if he can get only Is. 7d. instead of
is in business circles a manifest impatience, lest the 2s. for his rupees, of course he is out to just the extent
extra session of Congress, begun this week, shall be pro- of tlie difference.
longed by entering upon general legislation; and yet we
One might suppose that India prices would rise with
venture lo suggest that time be taken to consider the new the decline in silver and this would be so were India
situation of ibis metal, and if some action is found to be like America.
But ideas do not interchange there rap-
CONGRESS AND SILVER COINAGE.
sends a
;
desirable, as we believe will be the case, that the coinage idly, and habits and opinions, as we know, alter exbe temporarily stopped.
speak now, not in the tremely slowly ; consequently, silver has depreciated
Nor does the relief come, as some
interest of our currency, but in the interest of com- very slightly as yet.
merce aud of a recovery in price.
expected, through lower prices (being in rupees) of artiThis week silver in London has touched 48 3d., the cles India has for export, because as she is not the only
lowest point it has ever touched e.xcept for a brief exporter of them, prices are fixed by the Liverpool
panicky period in 1876. The present quotation has been market, and are on the basis of sovereigns. Hence, for
reached, not through any sudden fall from an excep- instance, the Manchester cotton manufactnrer instead of
tional cauise, but by a gradual lowering of value under getting relief by an exchange of products, suffers a
We
the weight of
many adverse
influences.
This decline double loss;
first,
he baa to accept rupees for his goods
—
THE CHKONICLK
286
[Vol XXVIII.
and next, as India is not the only court always supposes them and all legislative bodies to
cotton-producing country, and as the price of cotton have a sensible intention in every word used in a statute.
(which depends upon the total world's supply and The carelessness of ordinary conversation or even of
instead of sovereigna
demand)
he must
;
fixed at Liverpool under the laws of trade,
is
virtually
(not
actually
turn
of course)
his
ordinary writing cannot be supposed; on the contrary,
the presumption is that laws are framed with great
rupees back again into sovereigns, to buy his cotton for
deliberation, thought being bestowed
his return cargo.
rate purpose and
But this is only one direotioii in wliich the trade of
Great Britain is suffering by the demonetization of
Mr. Nourse, in an able paper published by us
silver.
on the 14th of December, discussed the subject from
another point of view entirely. But we have not space
It is
to enlarge upon that branch of the subject now.
sufficient for us to know, in the words of the letter above
quoted, that public opinion in Great Britain is " slowly
These are among the leading principles in the interpretation of statutes.
Vattel says: " Every interpretation
" that leads to an absurdity ought to be rejected." Lord
Coke says: " The good expositor gives effect to every
upon and a sepameaning intended by each expression-
" word in the statute; he does not construe
" anything should be vain and superfluous."
it
so that
Dwarris
When the Legislature in the same sentence uses
" different words, the courts of law will presume that
" they were used in order to express different ideas."
says: "
changing " under the " extremity of the distress " largely
caused by this vory demonetization and depreciation of We might multiply similar citations without limit. The
Under such circumstances is it not clear what result of it all is, however, that in interpr^jing statutes
silver.
Europe has attempted to the court starts with the presumption that the lawpolicy we should pursue.
currency, and she is bit- makers were^n intelligent body, not using any superuse
as
of
its
throw silver out
that it is against the fluous words, and will so construe the act as to give a
We
believe
for
it.
suffering
terly
commercial development and progress in distinctive meaning to every expression used. Conseinterests of
the world that this should be done. As the price quently, when Congress enacted, by section 3,588 of the
declines, the suffering becomes greater, and is leading to Revised Statutes, that " United States notes shall be
a change of views in Great Britain. Shall we not then " lawful money anc? a legal tender," we must conclude
help on this process of enlightenment by stopping our that it intended a very different thing from "legal
coinage of silver dollars, virtually telling Europe that we tender" by the words "lawful money," and that the
will have nothing to do with silver until they help us same interpretation for the two expressions- would not
Our present action not only be adopted by the court if any other couM be found.
restore it to its old place ?
What meaning then, consistent with these principles
tends to support price, but, worse than that, it is encouraging gold-standard countries with the belief that we of interpretation, can we give to the words " lawful
shall finally
up
be compelled to adopt silver solely and give money"
we withdraw and
If
gold.
operation
work out
the consideration
its
now
will give this subject
importance demands.
not the common, popular meaning
definition he says
seems that a few words additional to our remarks
?
clearly stated in his definition of
In the
money
after that he defines
LAWFUL MONEY" NOT "LEGAL TENDERS
It
Why
in
"
"
?
Webster has it very
the end cannot the word " money"
the causes
their natural result,
We trust Congress
be doubtful.
let
it
is
first
subdivision
of the
of course gold, silver, &c.;
as follows:
Any cuiTency
usually and lawfully employed in buying and gell" ing as the equivalent of money, as bank notes and the like."
2.
In connection with this, remember that no person or
by law;
make more evident the
furthermore, that Congress has always been possessor of
distinction between the expressions " lawful money"
the power to issue notes, as Chief Justice Chase states
Both expressions, as we saw, are
ajid " legal tender."
his legal-tender decision:
of last
week
corporation can issue notes except as authorized
are desirable to
it
used in the section of the statute about to be reviewed
by the Supreme Court, while only the former is found
claimed
in the section describing bank reserves.
that when the lawmakers enacted that " United States
We
"
"
"
"
in
" Cougress, under the Constitution, possesses the power to emit bills
or notes as incidental to other powers, though not denominated among
but to issue bills or notes has no
those expressly granted,
identity with the power to make them a legal tender on the contrary
the whole history of the country refutes that notion."
;
Here we have it all very plainly set out, that although
be lawful money, and a legal tender in
" legal tenders," it
all debts," they intended to impart to the Congress has not the power to emit
notes these tw« qualities: (1) To make them "lawful has the power to emit what Webster calls " money" issued
Consequently, the
money" of the United States, a power which Congress "lawfully" or "lawful money."
undoubtedly possessed; and (2) to make them "a legal statute has in it these two expressions, the first covering
tender" for private debts, a power the possession of an acknowledged power, and the second a doubtful
which was widely disputed. This distinction appeared power, so that the notes might survive as " lawful
to us 80 clear that we scarcely more than stated it, money," even though the Court should pronounce the
"notes
shall
"payment
of
We
it would be at once accepted.
find,
however, some insist that our interpretation is erroneous,
believing
and that the two expressi«ns mean the same thing.
New York
Commercial Bulletin states
its
dissent
a reasonable,
The giving
as
follows:
The dUtinction drawn between " lawful money" and " legal tender"
is wholly fanciful. That only Is lawful money which the payer may
lawfuUy demand the payee to accept, which is but another deilnitioa of
This,
legal-tender feature unconstitutional.
is
natural and
sensible
effect to all parts of the statute,
section
a consistent whole.
provision
only the
When
we
insist,
interpretation,
and making the
the bank-reserve
was enacted, the lawmakers very wisely used
first
expression, that the question of reserves
might not be affected by 'anyj adverse legal-tender
legal tender.
decision but, at the same time, to clearly define what
According to this we are to understand that Congress, was meant, and to restrict the reserves to Government
•when it framed the section in question, meant to say,
emissions, the words inserted were " lawful money of
"United States notes shall be a legal tender, and a the United States."
" legal tender," &c. Such a rendering would impeach
We do not conceive that anything further is needed
the common sense of the lawmakers and involve them to enforce or make plain the interpretation we have
in an absurdity.
However little wisdom the unpro- been contending for. It is scarcely in the nature of an
fessional citizen may invest Congressmen with, the answer, even if it were a fact,
to say that the banks
;
—•
March
THE CHRONKJLE
23, ISTU.j
287
oontingenoy proposed, be in state of bub- in view of the insignificant proportions of exioting trade,
So long as Government notes ("lawful money") relates to its bearing upon the practicable develo[iment
are redeemable in gold, the oondition will not be looked of trade hereafter. The principle adopted, as stated by
upon by the public as very alarming. The gold, instead the Finance Minister, Mr. Tilley, is to select for high
of being in the banks, will be in the Government vaults, rates articles which are or can be made in Canada.
One
and its representatives will be held by the banks. If, of the great difliculties, he says, is undervaluation, and
however, any one wants or prefers gold he can get it of so the government " will ask Parliament for power and
the banks then as readily as he cm now. Not many authority, such as the United Slites Ouvemmen I have, to
individuals will distress themselves much over this fix themselves, through their officers, the value of tiie
goods in the country whence they are imported." To
situation.
meet this difficulty, experts are to be employed, and a
PROTECTION IN CANADA.
jumble of specific and ad valorem duties is proposed, so
The tendency proven not only by the current of that if one rate misses its aim the other will hit. Thus raw
is, to
discussion, but by what has already been done
cotton is to be free; on various sorts of manufactured
adopt or to intensify the protective policy. The "Cen- cottons, duties are heavily raised; from 17^ per cent
tennial" was a revelation to the world concerning the old to 1 cent a square yard and 15 per cent now; 10
variety and quality of American manufactures and the per cent to 2 cents a pound and 15 per cent; 17^ to 80
facilities already acquired here for economical produc- per cent, &c.
The Toronto Atail (government organ)
tion; the narrowing markets have since so increased the says that the now policy is expressly framed for building
notably in Ger- up the country and that if the British connection is
uneasiness felt that the disposition
many and Canada is to try stimulating manufac- endangered thereby all the worse for that connection.
tures by raising higher the bars against imported good?, Nature indicated clearly (says the article) that Canada
Berlin dis- has a higher mission than to continue indefinitely barterespecially goods from the United States.
would,
in the
peneion.
—
—
—
—
patches this week report that the work of the
revisers
is
is
tariff
ready for submission, and that particular zeai
exhibited against the United States.
legislative election, last
In Canada, the
September, resulting in retun;-
ing a " Conservative" opposition m;ijority of about
seventy-five in Parliament, turned upon the desire for
more protection, which was shrewdly made an election
among the farmers in Ontario.
promise then made is now redeemed by a new
cry,
The
especially
tariff,
whereby an impending d:;ficit is to be averted, public
works are to be provided for, general prosperity is to be
produced, and this country is to receive a wholesome
always looked upon colonists as white Hindoos;" let them
be displeased British connection imposes no such yoke.
After this almost defiant statement of independence
which reminds us that the new tariff will bear as
—
unpleasantly upon England as upon the United Slates
the same article proceeds:
The cry that the new policy will anger the Americans fa equally
unworth;^'.. What have they a<me for us that we should consult their
feelings in 'frnminf; a fiscal policy for Canada 1 At a critical {icriod ta
our history tliey abrogated reciprocity trade relations with the avowed
object of starving us into annexation. For years they have met our
conciliatory advances with hostile tariffs. Our markets have been wide
open to them, but they have persistently kept their gates shut against
They have rejected our advances, and relumed evil fou good ia
way. Not even the apj>earance of a suppliant reciprocity Commisbioncr at the door of Congress lu 1874 moved tlieiu, altliough lie
oflercd them most extrav.agant terms if the.y would only con.scnt to be
neighborly. We have asked and entreated long enough. The time for
action has come. If they are irritated by the new protective pi licy, wo
can point to the Morrill tariff. If they incuse us of being tmneighborly,
we can show theui Mr. Brown's articles of reciprocity, and the ct>utcmptuous refnsaie of Congress. We can point to their vexatious dickering
to tlic duty ou lobster
over tlie provisions of the Washington treaty
cans and cml-liver oil, levied for the express puriKiee of evading that
treaty; to the manner In which they discharged their iuternatioual
obligations durinu' the Fenian raids, and to their whole hue of conduct
toward us f<)r tlie i>ast 13 years. We have an abun<lance of tu quogaetti
l)ut, bt^tter than all such, wo can make the dignitied answer that the
Canadian people have the right, and intend to exercise it, of .shaping their tlscal policy as they deem best for their own interests, regardless of the views of a foreign country which has always declined to
meet them half-way lu inter-trade negotiations.
us.
lesson.
ever.v
—
As to Germany, our exports are 64 miliion< 920 per
cent of those to all Europe, and 7^ per cent of the toial;
since 1870, the amount has risen somewhat, but both
Of the 54 millions, raw
these ratios have declined.
cotton is 11 1-3; illuminating oils, 11^; lard, 7^; leaf
tobacco, 5|; 70 per cent of the whole is thus comprised
in these
ing wheat and cattle for the adulterated cotton and
cheap cutlery of Manchester and Sheffield, which " have
four staple?, while of leather and manufactures
thereof
which for some reason
is
mentioned
in
the
cable dispatches as being the last article upon which the
tariff revisers laid an increase, we send to Germany less
Germany
thus in a situation of
this
country
for
upon
the bulk of what she
dependence
As
Canada,
it.
to
the volume of our
from
buys
now
Our imtrade is not of great present importaHce.
than 2 millions.
is
from her in the last fiscal year were 27-6
and 5-94 per cent of our total imports,
against 395 millions and 8-54 per cent in 1870; our
exports to her were 34'5 millions and 4'79 per cent,
Of
against 19-3 millions and 3-88 per cent in 1870.
ports
millions
the imports, about 4 millions are fruits, and 6| millions
are breadstuffs, 5 millions of the latter being barley
;
In a similar vein, but milder in expression, are the fol.
lowing remarks of the Finance Minister
on the subject
and the remainder scattered. Nearly
what we take from Canada is the single article
of barley, and about 40 per cent of what we sell to her
The total trade between the two
breadstuffs.
is
countries, in 1878, was 62-1 millions and 5-2 per cent of
the total, against 58-8 millions and 6-8 per cent in 1870.
The importance of the change in the Dominion policy.
million of cotton,
one-fifth
his speech
this to say to our .American friends. In 180.5 Uiey abrogated
Reciprocity Treaty. From that day to the present a large portion
Dominion of Canada from that country have
been admitted free. We have hoped, but hoiied in vain, that by the
adoption of that policy we would lead our American friends to treat u«
witli reference to these articles in a more liberal spirit than they have.
("Hefir, Hear!") Well, sir, after having waited twelve years for the
consideration of this subject, and as we rojulro more revenue, the go»ernment have detej-mined to ask this House to Impose upon the products of the United States that have been free such a duty as may seem
consistent with our position. (Cheers.) But the government couples
with it, in order to show that we approach this question with no
unfriendly spirit, a resolution that will be laid upon the table of this
House with the rropositlons for introducing a duty on these arti<'le8—
resolution to this effect, that upon the articles named that are natural
products of the country, if the United Suites take off In part or In wiMie
the duty they impose, wo are prepared to meet them. (Cheers.) Mr,
the government believe In a reciprocity of tariff. We may diMOM free
trade or protection as we please, but the question to-da,v Is, Shall we
have a reciprocity of tariff or shall we have a one-sided tariff J (Cheers.)
I
have
tlie
of the imports into the
from Ontario; of the exports to her, 13 millions are
breadstuffs, about a million each of refined sugar and
propose to do no more.
tobacco leaf, 2 millions of iron and manufactures, nearly The government
It is evident that the framers of
2 millions of coal, a little over a million of cotton manufactures, half a million of furniture, three-quarters of a
in
:
this
tariff
have
imitated this country very closely. In so doing, they
have not only taken for a pattern one of the worrt
systems to be found among the commercial nations, but,
happens when imitation is practiced, have
adopted its worst defects the ad valorem duties, the
union of those with specific ones, and the consequent
espionage and "experts" system. Canada, as well as
as usually
Germany and
—
the persons in France and England
who
THE CHRONK^.LE.
288
[Vol.
will be
panacea of protection, as against this
country particularly, makes one capital mistake at the
outset in assuming our industrial success to be the fruit
of that policy. The argument is: The United States
block out our goods, let us block out theirs; the United
States have grown to be a formidable commercial com-
freer trade
petitor through protection, let us develop equal strength
by taking their tonic. The error is even granting, for
ing the last blow.
<iesire to try the
—
it
;
a misfortune
XXVIIL
by wrongly
if,
in-
terpreting the universal distress, attempts are made, at
this stage of progress, to go backward and raise higher
That
the barriers of statute.
fault
is
true, but
tion will
country
this
is
not without
also true that a policy of retalia-
is
indefinitely if each party insists
last
by and bury
it
It is far wiser to
finally the
on deal-
give the past good-
narrow and stupid notion that
argument's sake, protection to have been a large factor when nations trade one gains only at the other's exLet the policy of the sharper be abandoned.
in assuming it pense.
in producing our industrial development
The stimulus of our Ontario, thrust like a wedge into the territory of this
to have been the potent one.
—
patent system has been an important factor; the late
war which reduced the number of producers and
increased the demands upon production, thereby com-
—
pelling an extraordinary development of manufacturing
facilities
— was
another; the constructive independence
of the people, never caring for old methods, but always
new and cheaper
striving to produce better goods in
ways, has been
another;
position
the attractions of
country, and possessing a fertility with which New
England cannot compare, would have doable its two
millions of population had it kept pace with New York ;
Quebec would have an additional half million, had it
done as well as Vermont Nova Scotia and New Brunswick would have double their half million if they had
done as well as thinly-settled Maine. The total trade
between the four millions in Canada and the forty-seven
;
But, millions in this country is sixty-two millions, while, achave also largely contributed.
to be in every way down on a level with us^ cording to Mr. "Wells' estimate, every 4,400,000 of
that even the vice of currency inflation people in this country make internal exchanges, through
it seems
and
rich
soil
now commends
we
read
amount of 1,000 millions annually.
growth is due mainly to the
" present coinage system, and recommend the issue of artificial barriers to trade set up where Nature imposed
" plenty of paper money." In Canada there is a like none. The idea that reciprocity was abandoned in order
agitation, but it will be deplorable indeed if other to starve Canada into annexation is erroneous.
The
that in
to
itself
Germany "
imitation,
for
the protectionists are attacking the
railroads alone, to the
The repression
of Canadian
nations, not perceiving that
we have thriven in spite of
bad money, and not appreciating the enormous penalty of wastage and distress we
have paid for it, now resort to an error which we have
appetite for
instead of because of our
party could not be mustered, but
just been expiating.
trade purposes
It is impossible
to speak with precision of the prob-
able immediate effects of Canada's
this country, for the reason,
continuance nor
among
new
course upon
others, that neither
trade
is
here
territory
sharp.
by Nature, and
an
annexation
the appetite for
annexation
Political
is
sated;
is
is
not suggested
of n» consequence; annexation for
is so suggested, and would be for the
advantage of both countries, but in the largest measure
As the more powerful, we can afford to
for Canada.
scorn the petty plea that in negotiating
now we may
influence in shaping the trade rela.
seem to be yielding to menace; and, inasmuch as the
tionship between the two countries can be foreseen. difliculty has been in adjusting the respective concesAs usual, the increase in duties, imposed both for more sions, we can afford to err on the side of generosity.
protection and more revenue, attempts to unite two Canada cannot hurt us by buying; she cannot buy withthings mutually destructive; as usual, also, the wants of out selling; and we ought now to be past the point of
different sections are found to conflict.
Nova Scotia fearing competition from her in our own markets. Is
for example, must have an increase on coal, one result not the present a good opportunity for initiating a new
its
its
being that the Grand Trunk Railroad will find its own negotiation for closer trade relations
development saddled with a very considerable increase
in the cost of fuel ; other provinces must pay more for
?
otices of g00Ti6.
breadstuffs, that the Ontario farmers,
the electors of the
tariff
supporters,
who
are mainly
may have more
pro-
JONBS ON Railroad and Other Corpoiiatb Seccrities.
Pp. 707.
Price, $6 50.
Boston: Houghton, Osgood t6
tection ; those farmers will find higher prices demanded
of them, and so on. As usual, protection has whispered
to everybody, " higher prices for what you sell," omitting to add, " and for what you buy ;" and, as usual
of railroad securities are so large, and th« rights
involved so puzzling and varied, that information upon tlie subIt is therefore with pleasure that
ject is always eagerly sought.
proteetion will not keep out the goods at which
Securities junt issued at Boston.
It
would be
safe to
make
it
aims.
Co.
The holdings
we
call
attentioa to the
now
treatise
on the
We may
Law
of Railroad
beat indicate
its
con-
by a reference to a few of the principles discussed.
In this work the author does not include subjects elementary
result will be disastrous to Canada ; and as for the expediency of a hostile policy on her part, the fact must be in the law of mortgages those matters are given in an earlier
jemembered that this country is, next to England, her volume. This treatise begins with an examination into the
power of corporations to make mortgages shows what their
best cutomer, for of her 73 millions of exports the
what is covered by them then the general
form should bo
United States takes 23 and the mother country 41.
rights and remedies of the holders
duties of trustees, receivConsidered as intended to bring about- trade conces- ers, &c. The law of railroad mortgages in the United States, as
sions from the United States, the new policy is quite as it now stands, is mainly the product of decisions during the last
injudicious and as ill-adapted to the purpose as it is fifteen years; that is, prior to the war our courts were called
upon to settle very few questions with regard to bucIi instruotherwise. The fable of the wind, the sun, and the
ments. Consequently, even now many points are undeveloped
traveller is apropos, and punitive measures in interand the system is far from complete and harmonious.
national policy provoke retort in kind
moreover, these
This want of a complete settlement of practice is, perhaps,
movements and agitations will be harmful, by hindering especially true with regard to many questions growing out
The Engli^'li rule as to
revenue reform here and setting up new alleged proofs of the appointment of receivers.
of the value of protection and new demands for its appointment of receivers at suit of a mortgagee formerly
was iliat a senior mortgagee, having the legal title, had
mcrease. The argument has ever been, that through
Bufflcieut remedy by ejectment; recent statutes have altered
protection we develop manufactures and gradually reach this
Bomewliat, yet recourse to receiverehips is granted witli
the general prediction that the
tents
—
;
;
;
;
;
Mahcb,
THE (3HK0N1CLE.
82, 1870.1
289
Md
In thia country, there haa bero much more
receiver doea not follow an Inter-
expuDses being WiH, agalast 3'!)4 and 2'86 in Rogland
France; statlitical tables of tb» oamb«r of pooaloasrs and pAyNo refvrenoe pu llcatioo wlibin
eat default aa a matter of course, but upon a sppcial ahowlng— ments thereto are also given.
aa, for inatance, tlmt ultimate losa will probably accrue to the our knowledge haa the same scop« as Mr. Spoflord's.
Tb*
beneflctarii'H under the niortgaRo, by allowing the properly to almanacs Isaued by several of the oewsp«per>, as well •• Iba
remain In poMORaion of its ownere until foreclosure and aale. annual " Handbook of Politics" by Mr. McPherson, are valo^le
A receiver will not be appointed afrainat the wiabea of the and (onvenient, but they are mainly political; the "Statesman's
majority, on application of a email minority; but unUas there la Year Book" contains little beyond the political statisiics of all
evidently fraudulent or ruinous management the complainants governments, and " Whitaker's Almanac" does not go much
beyond Qreat Britain. The "American Almanac" necessarily
will bo loft to tho ordinary remedy of foteclosure procetdlngs.
The application to appoint a receiver will generally be refused duplicates much political and financial matter accesnlble to
when such a step would overturn a funding scheme which nearly journalists in o'her publications, but with it includes a vast
»U the bondholders agree upon. Uut a receiver may be appointed mass of compactly-presented miacellaneous matter. The present
because the mortgaged property is liable to bo seized on execu- volume seems to be better than the first, and consists mostly of
tion; or because the conduct of the company's ofRcers requires it; matter not given before.
Mr. Spoflord has at least chree of the conditions requisite for
or to Sfcure temporary possession of income, in cases whore no
permanent possession is provided for; or if the trustees, without compiling a work of this sort: the command of a library of
good reason, refuse, upon default, to perform their duty under almost limitless resources for the purpose; a patience which
the trust, the court may require them to do so or may appoint a must grow out of love for the labor and a williogness to spend
receiver. But the application of income to operating and com- his labor with little or no pecuniary reward. "Fbe first vo'ume
pleting the road is not such misapplication as calla for a receiver- failed to meet its expenses, and the second is offered as making
ship, especially when consented to by a large number of bond- one more trial, with the question of continuance dependent upon
The book is a ccstly one to
holders.
In an illustrative case cited [Williamson -cs. New the encouragement now received.
Albany Railroadi .ludge McLean held that the diversion of earn- manufacture and its price is low. As a convenient manual for
ings to pay floating debt incurred for completion was for the reference we know of nothing to compare with it. Its sixe might
interests of the bondholders, and that a sale of the property give it room on the merchant's desk, and it contains, amply
indexed, much which would he useful to the business man, to
would be ruinous, adding:
These conscmuenecs, I admit, arc not to stand In the w.iyof an ei|uit- whom momenta are precious and within w'uose reach are no^
of
fairness
and
Justice.
able riKl'l. ciifon-ed under circumstances
But if sucli results may bo avoided by a short postponement of tho many statistical publications. It would be a misfortune to have
Interest, and under n prospect of » speedy payment, I hold niysolf
the publication discontinued for lack of tho encouragement which
aiitUoii/.ed to do so, under tiio facts above stiitoil. But I will affoid to
th« bonilholdors every reasonable assurance that can bo required. I a sufficiently general acquaintance with its merits must certainly
will aduiil liii order to l>e euteri;d that tho motion of the comnlaiuant for
command, and the least we can do is to cordially recommend it
till- appointment of a receiver bo denied, and that the said company,
from and after Ja-iuary 1 next, set aside one-half of the net earnings of as a profitable purchase for library or connting-room.
gnat
reluctanco.
freedom.
The appointment of a
;
the road fm- the p-iymcnt of the interest of tho l)onded debt of the said
ronipaiiy. the other half to be api>Ued to the payment of the floating
debt of llie. company.
" That a receive? will not always bo appointed upon application of a mortgagee, as a matter of course,
farther illustrated, in the
Mount tin
Iron
case,
treati.se
upon a default,"
is
National Bank Cases, Containing All Decisions in the
Federal and State Courts Relating to National
Banks, with Notes and References. By Isaac Grant
Thompson, Kditor of the Albany Law J&urnal and of the
Price, $7 50.
Ameriexn Report). Law theep; pp. 989.
Albany: J. D. PartoM, Jr.; or Baker, Voorhit <fc Co.,
before us, by the notorious
two years ago, where default was made, not
New
for lack of net earnings, but because the ofHcers decided to use
them
to
pay
off floating debt.
As
to receivers'
certificates, the
legitimat-! object of the assumption of management by the courts
being the preservation of the property, rebuilding a part or even
originally constructing a part may be necessary to tliat end, as
when Judge Dillon authorized borrowing up to five millions for
completing a portion of the St. Paul & Pacific, and thus savin;;
the land grant from lapse by limitation.
The necessity of
expenditures is the criterion of their propriety. But do receivers'
•ertificafes take preference of existing liens ?
Wben mortgagees
ask or cons nt to the issue, they waive the priority of their bonds.
Without the mortgagee's consent, no court can impair the contract by creating a superior lien, " unless it be in the exercise of
York.
of the general banking laws gave rise to a
The enactment
and
responsibilities.
his annual reports, will find in this thick
like equitable power of preserving and protecting tite property."
Yet there are no satisfactory adjudications on this point. In
favor of such power it is argued that when money is necessary
for preserving a road taken possession of by a court, at the
instance of a junior mortgage, the conrt must have power to
secure loans by liens on the entire property having precedence
of all mortgages, because, otherwise, the senior bondholders
being safe at the worst event, it might be practically impossible
to save anything for the junior mortgagees or for the court to
give the latter any protection at all. This was the reasoning
followed in a recent Alabama case cited, and a few States authorize snch a creation of liens.
But we have not space for further citations. The work itself
will be found quite indispenaible to a large class other than the
Americ'.vk Almanac and Trbasort of Facts, Statistical, Financial and Political, for the Year 1879.
Edited ly Ainsworth R. Spoffohd, Librarian of Congre>».
Pp. 418. \,Price, $1 50. JV«io York : American Neun Company.
The second annual volume
of this publication opens with a
timely sketch about the census, containing some interesting facts
concerning the past censuses of this couatry, their scheme,
results, errors and merits; the enumerations by the States independently; the frequency of enumerations in Europe; the manner
of census-taking in Great Britain, etc.
Another timely paper
showing the extraordinary liberality— perhaps
that is not, however, the most appropriate word of this country,
the pensions expenditure annually being more than double that
•f France and KagUnd, and its ratio to the total gorernment
treats of pensions,
—
all
the decisions
;
heard in the Supreme courts of States, in alphabetical
Among the subjects covered are: Taxation of banks, by
the United States and the States duties, liabilities, and bonds of
loans and discounts taking of mortgages on personal
officers
cases
order.
;
;
property as well as on real estate
;
buying
of bills
and notes, and
liability of stockholders ;
receiving deposits for safe keeping
insolvency, receivership, examinainterest, and usury penalties
Some memoranda of cases not reported in detail are
tions, etc.
;
;
given, besides cases reported in law publications, and several
never published in any other form. Separate index's, alphabet!.
cally arranged
by
titles,
of cases reportftd
and cases
cited,
are
a brief of the decision and
a reference to the page where the report will be fonnd. Whether
for careful examination or for hasty reference, the volume seems
to be all that is wanted as a compend on the law of national
given
by
also an index
;
topics, giving
banks.
The Princeton Review,
We
profession.
The
volume
during the fourteen years, 1804-78. The volume opens with the
decisions of the U. S. Supreme Court In chronological order,
occupying ICO pages cases in the other Federal courts follow>
occupying 310 pages, the remainder being given to reports of
;
a,
new
Bankers and others interested,
who have mide use of the brief digests of decisions which the
indefatigable Comptroller of the Currency has incorDorated in
set of rights
37 Park Row,
are in receipt of the
New
March number
Ihe Princeton Review
has always been devoted more
now
York.
of thia excellent
in its fifty fifth year.
periodical.
is
It
or less exclusively to theo-
and ecclesiastical subjects. Of late, however, it has been
conducted on somewhat less exclusive principles, its pages having been opened te contributions on moral, historical, political,
logical
well as religious subjects.
number there are articles on " Religion and the
State," by the late Professor Tayler Lewis, of Union College ;
on the " Genesis and Migrations of Plants," by Principal Dawson,
of Montreal; on "The Pulpit and Popular Sceptic sm," by
scientific, as
In the present
on • Sentimental and Practical
by Edward A. Freeman, of England; on the late
on " Final
••
President Thiers," by E. De Pressense. of France
Cause M. Janet and Professor Newcomb," by President Meon " ContinenUl Painting at Paris in
(>jsh, of Princeton
Rev. Phillips Brooks, of Boston
;
Politics,"
;
:
;
•
;
.
THE CHRONICLE.
290
en " Preby Philip Gilbert Hamerton, of France
PhiladelpLia
of
Patterson,
R.
M.
Rev.
by
millenarianism,"
and on "The Islaads of the Pacific," by Sir Julius Vogel, of
New Zealand. All these articles are excellent in their way and
gome of them are of exceptional merit. Mr. Tayler Lewis makes
a strong protest against the exclusion of the Bible from the
public schools. Mr. Pliillips Brooks, while lamenting the prev
alence of scepticism inside the Church as well as beyond it, ha1878,"
;
;
;
give the clersy. In liis opinion, the
clergy are themselves much to blame for the anti-reli.ious spirit
which prevails among all ranks and classes of the people. " How
many of us," he asks, " believe in the doctrine of verbal inspira-
some
sensible advice
tion, as
it
to
was believed by our fathers
we do
told the people that
?
not believe it?
How many of us have
How many of ua hold
that the doctrine of everlasting punishment of the wicked is a
And how many of us
clear and certain truth of revelation ?
have plainly expressed our convictions on the subject ?"
Mr. Freeman remarks upon the merely practical or the merely
In his opinion, each is of little account.
statesman must be not only practical, but
He must recognize the facts of man's comalso sentimental.
"He must understand that men's feelings, their
posite nature.
hopes, their memories, their loves, their hatreds in a word,
their sentiments go for a great deal in human affairs, and that
gettlmental statesman.
To be
effective, the
—
—
a policy which puts them out of sight is not a practical policy.
He must further understand that man is, after all, a moral being,
and that right and wrong are things which, to put it on no higher
ground, cannot safely be left out of sight." With decided skill
Mr. Freeman also applies the principles he has laid down. It
was, he says, a recognition of the sentimental in international
It was a recognition of
politics whic h restored Italian unity.
the sentimeDtal which enabled Bismarck to bring about the uni-
Germany. It was a refusal to recignize the sentimental which rob':ed the Crimean war and the treaty which
followed of the permanent fruits of victory. In the present
patched-up arrangement which is being carried out in the East
of Europe, Mr. Freeman can discover no guarantee of peace,
fication of
because the sentimental, in other words, the wishes, the sentiments of the people, are ignored.
Mr. Freeman would give
Bulgaria to the Bulgarians but he would also mighlily enlarge
the boun'aries of the Greek kingdom. For the Turks he has
no sympathy. The two great doctrines of the day, politically
speaking, Mr. Freeman tells us, are nationality and race. Where
these conflict with authority or with geographical boundary
lines, contentment or permanent peace is impossible.
;
asked.
How
is
it
XXVIIL
[Vol.
that,
with cheap money, lower wages and with
a diminished cost of living, trade shows no sign? of revival
can only be repeated that the startling occurrences of the last
?
it
few
years have deprived the country of that confidence which is neccessary to promote healthy and active trade. The losses of the
investing public in cocneclion with foreign loans are alone
cient to put au entire stop to the introduction
suffi-
of fresh proposals
on the London market; but in addition to the amount the country has lost in connection with Turkey, Egypt, Spain, Peru,
Honduras, Costa Rica and Paraguay, there is the heavy
depreciation
in
country,
the
the
and
value
of
especially
undertakings.
industrial
all
joint-stock
the
in
Latterly,
enterprise
shares
too,
the
in
coal
and
value
of
of
bankiog property has declined considerably, and gas shares have
expsrienceJ a heavy fall. In fact, compared with those years
which are denoted as bring prosperous, but which were years of
inflated prices and trade, viz., in 1873, 1873 and 1874, the diflFerence is in every respect very great.
Possibly, and it is to be
hoped that it will prove to be the fact, we have reached the
extreme point of depression; but at the sa\ae time, notwithstanding that we possess ample capital, that wages are low, and that
living is cheaper, there is no inclination to pursue a bold policy
Merchants are by no means disposed to embark
in trade.
extecs'vely in business, and bankers have not yet sufficiently
recovered ILemselves from the panic of last autumn to afford
liberal facilities to commercial enterprise. The sale for our goods
abroad is very uncertain, and is still said to be attended with
loss.
Much of this is clearly due to the depreciated value of
silver, but it is a fact of considerable imoortance th it even the
low prices which are current for cotton, woolen, iron, and, in
fact, for all manufactured goods, fail to attract the increased
number of buyers and consumers which cheapness justifies
Undoubtedly, the vast military expenditure of Europe has
diminished very largely the production and consuming power of
Continental nations; but it is by no means clear as to the
manner in which these vast armies are to be disbanded.
Although this country is by no means regarded as a military
nation, yet the two services are s. heavy burden upon the public
more is spent by us than by any other
purse,
and
At the same time we are free
nation in the world.
all
from conscription, so that those who prefer to lead a comabroad to
life are better able than the same class
pay those who desire to follow the profession of arms. By this
means, the agriculture and the industries of the country are
capable of greater development, as mor^ skill is available, and
When I say skill, I
the power of production is not diminished.
do not mean skill and taste of the highe.st class is we are probably somewhat deficient, when we bear in mini the extent of the
artisan cl».8S but rather the abundance of good average workmercial
—
RVDESOF 8VCH.INGS XT LONDON AND
AT LATEST HATES.
KXCHANflB AT LONDON-
MARCH
0»—
short.
..
.
.
(t
i5.i7%&-2b.r,-iV,
short.
8 moa.
26.41 !4®23.5S>4
*0.63 (a«0,«7
namburg
Berlin
i.
Frarilcfort
Si. Pelertburg.
*'
Vienna
'*
Madrid
Cadiz
QoQoa.
Milan
Naples
Lisbon
NewVorli....
@J2.3
J0.6.J
JD.63
"
11.90
"
@!0.67
aio.er
an. 95
*•
'«
JB.7X @iS.ii}i
"
7.
short.
25.31
short,
ii!i6
cheques
March
short.
60 days.
"
20.Wy,
20.I9X
March
March
Ma'ch
^
March
3mos.
mo8.
Kong...
Shanghai
i'M
27.60
27.60
1». 'id.
March
March
March
March
March
March
4.8-
60 days.
3 moB.
6
96X
mos.
Is.
7 7-1 6</.
1«.
tad.
is.
Tiid.
is.
IFrom oar own correspondenul
London, Saturday,
return
il ?-3i
116 50
S1H@51X
Is. 7(1.
Hong
The Bank
40.491/,
."Urtrch
5Iarch
M.r« @28.1J>4 March
90 days.
Oalcatta.
March
March
.March
*«
Alexandria....
Bombay
March
TIHK.
3 moB.
Antwerp
Paris
Paris
1-2.3
LON i>flN
EXCHANGE ON LONDON.
LATEST
nATI.
TIMS.
Amaterdam.
Amt'terdam
7.
0.-«
llHd.
—
men, who produce goods more suited to o.-dinary requirements.
Schools of Arls are, however, owing chieSy to private munificence becoming more numerous but, for a country like this,
they are not founded with the earnestness which the times and
the iHcreasing competition for works of art demand.
According to Wednesday's bank return, the " rest, " or undivided profit, of the Bank of England amounttd to £3,860,174,
while at the corresponding period of last year it was £3,715,748.
An increase of £144,436 is thus apparent, which is a very grati-
—
—
;
fying result for twelve months' working.
The Bank of England has
bution will be 5i, if not .5|, per cent.
evidently profited by the troubles of last au'umn and has done
a very remunerative business, both with the public and the
government.
Payment has beea made this week for £1,500,000 Treasury
which were tendered for last week, but the demand for
money has been exceedingly quiet, and the rates of discount
bills
March
8. 1879.
again favorable, but, owing lo an increase
in the liabilities of the establishment, the proportion of reserve
to liabilities has somewhat declined, being 47'43 per cent against
47 -91 per cent last week, and 39 17 per cent last year.
The total
is
have had
a
drooping tendency.
Bank rate
£10,306,351,
increased from £38,088,361 to £33,014,553.
change in the space of two months, and it
This
a substantial
is more than probable
that the accumulation of unemployed reserves will continue.
But although th» position of the Bank is very satisfactory, being
one of great. strength, it has still to be borne in mind that it indic*teB a general abseaoe of aotivd enterprise. If the
question be
is
is
that next
fully expected
:
Per r«nt.
O^en-inarketrates;
30 and 60 days' bills.
the commenceaient of the year amounted to
now £18,280,613; while the supply of bullion has
It
month the money mirket will assume a still easier appearance.
The present quotations for money are as follows
reserve, which, at
is
In 1878 the dividend
paid was 4f per cent, but as the above increase is equivalent to an
addition of nearly 1 per cent upon the capital, the holders may
expect that at the meeting to be held next Thursday the distri-
i
8
Per cent.
Open-raarl£ec races
4
8
4
mouths' bank bills
months' bank bills
and 6 months' trade
iH&iH
2J(@3
bills. 3
@3X
months' bills
The rates of interest allowed by the joint-stock banks and
discount houses for deposits remain aa follows:
Per cent.
Joint-atocK banks
3
Discontit houses at call
Discount houses with 7 days* notice
Discount houses with 14 days' notice
2
••..
^M
~W
:
:
:
Utuon 98,
:
Annexed Is a statement showiog the present poaitloa of the
Bank of England, the Bank rate of discount, the price of Consols,
Imporu
upland cotton, of No, 40 mule twist, fair second quality, anl the
Bankers' Clearing House return, compared with the four pre'
vious years.
Total
Kxports of wheat and flour.
1878.
1ST9,
£
Circolatloo,
£
I87«.
£
>7,«l9,65il
18.710,011
Public deposits
8,8l)8.«IO
Uthvr deiKWits
»,355,751
Uuvt'rnmunttecurlUes. I4,9t>3,ii0d
10,140.493
21.412,480
lS,975.6b8
2^,174.533
8,290,875
B,l!IO,i;4
19,019.118
18.280,613
1M76.S57
bolh dcpartmenu... 3).614.5&9
Propirt'on i f reserve
21,388,777
8911
45'68
coin
and bnlllon
2'),2l5.172
18,868.416
I8,S80,«83
14,808,eHI
21,148,578
1<,038,4C6
ia.:»),iii3
10,5».818
26,4SI,2>5
38,:«ii.687
S0,M3,3iS
1MIS8,1'A
47'42
Bank-rate
S p. c.
2 p. c
Consols
95^
%6H
Bngllsh wbeat,aT.prlGe
388. Od.
tOe. lOd.
Hid. TTpland cotton... 5 5-l<d.
i\A.
No. 40nuilotwist. ...
lOd.
8Hd.
ClcarinK llouse return. 1J6,OI3,I)OJ 133,921,000
Sp.
4 p.
c.
KH
50s. lid.
4Sa,
6Xd.
c
a^p.
MX
M.
to*. Id.
1 lS-16d.
6 l-16d.
Ud.
lO^^d.
c
K-Od.
full.
of the Associated Australian
Banks
offer for
subscription a Victoria railway loan (Australia) in 4} per cent
debentures, the present isjue being £3,000,000 out of an author-
No
ized total of £6,000,000.
tender will be accepted below £98
£100 debenture.
Annexed are the current rates of discount at the principal
foreign markets
for every
Bank Open
rate,
Hamburg
Frankfort
Leipzig
Vienna
St.
Genoa
3
3>t
4
4
4
4
Tbe Board
Geneva.
6
p.
3^
c
i>i i>i
4.4A2.8M
25,513,000
.31.441,587
.
1,044,801
celona...
Lisbon and Oporto. ...
8
5
Calcntto
8
&iH New York.
2
iii
6
S
&t
4®4><
4'/4
of Trade returuB for February
and for the first two
months of the year were isBued yesterday. They show the following results
lE7r.
Imports in Fcbmary
Imports in two months
KiporU In February
Exports In two months
18^8.
£i»,94i,*9
fSJ.ns.lTT
68,841,689
8S,i85,133
ll,896,!80
30,320,231
14..3iW,745
80.339,825
tO,»»,9M
».4OT.10O
8viSiK9
45, 1 81.74 4
67.lO.0W
l,03»,91«
12S,5«1
Tbe following
4as. 50.
show tbe imports and exports of cereal
and from the United Kingdom since harvest, viz.
flgurea
produce into
from the first of September to the close of last week, compared
with the corresponding period in the three previous years
mroan.
_
Wheat
1878-9.
ewt. 24,841.017
BMley
«,445.20t
6,852,574
Oats
Poas
Beans
84H,fitl
857,U)1
14,957,045
.... 4,033.490
IndlanCom
\tm-i.
1878-7.
1876-8
80,86n,572
7,780.871
6.887.7»«
952,881
7,188,729
15,333,303
4,452,««7
18.88 1, 627
7,8S(.ta7
5.il7,OiM
31.109.787
8,422.878
4,9-5,194
890,738
t,n«7.iea
740.810
2 804,796
1«,000,7IO
8,099,918
ll,ai7,9'>6
S,585,0a
BZrOBTI.
Wheat
ewt.
997,549
78,428
53,070
Barley
Oats
Peas
1,006,2«)
82,107
64,798
14.848
10.969
84.028
84,752
10,261
6.691
,
Beans
IndlanCom
2'i9,in7
Flour
47,260
598,808
48,257
70,129
ia,191
18,228
I5,71»
156.948
16,847
4,91S
24.472
11,718
S8\418
20,231
The following return shows the extent of our imports of wheat
and flour into the United Kingdom from September to February
inclusive in each of the last four seasons, together with the prtacipal countries
whence the supplies were derived
WHUT.
1878-9.
1877-8.
Cwl.
Cwt.
Cwt.
4,564,677
4,560,871
4. 651,333
13,12'i.l"8
l.t;07,6S7
13.549,»'32
7,196,133
8,i8il.674
10.>i00,5OJ
2,««6.4433,5t5,811
61.0J2
182,596
151,091
474.24 >
93 J, til
2,09i,M8
7»),132
1,0:*7,40!
3,:J3T,521
1,»U,%8S
2,671.790
90«,54l
638.333
l,IOa,04t
1,9«9,3««
l,42),4e»
RuBMa
United Stales
British
Norlh America
Germany
2,076,928
3.945
France
Chill
68.18;
Turkey and Roumanla
Egypt
121,647
128.187
560,705
877,819
Brillshlndia
Other countries
Total
1876-7.
2l4,:t2S
161.017
255.87
687,832
23,753,654
29,217,683
1C75-8.
3,1UI,3W
787,248
17,981,552
29,7S7,7tS
FLOUR.
Germany
,
France
United HUtes
British North America.
Otber countries
,
Total
498,004
157,798
2,147,106
186.179
1,011,614
853,763
572,170
1,471,550
244,C85
1,302,401
565.801
613,982
98»,3n6
27,775
I,!62.0«l
188,001
661,720
4,000,701
4,414,569
3,031,625
3,386,592
48t31t
736,9U
The following return shows the estimated value ot the
cereal produce imported into the United Kingdom during the
months of the present and three previous seasons, via,
from September to February, inclusive
®ti
7..
*!b*'A
ewt.
i,v».on
8.0SV.9I8
t4.«»l.«00
U,8t8,785
1875-9.
3Via4 >i
Copeulu^eD
lfl7»-«.
si.t'i*.7tr
first six
Madrid.Cadizand Bar-
4X
Pelerabnrg
mark'u
rate,
p. c.
4
p. c.
,
Braeeels
Aini<teidAm
Berlin
Bank Open
mark't.
p. c.
Pans
4.083,4tt.J
Reanlt
Floor
There has been rather more demand for gold for export this
week, nearly £200,009 having been purchased on a:cjunt of the
German mint. Sovereigns, however, have arrived In moderate
quantities from abroai, and these have been sent into the Bank,
At tbe Fame time, some sovereigns have been taken out of the
Bank for the Cape, South America and the West InJies, Silver
has been offered more freely, and prices have had a dswnward
tendency. Only 49i is now procurable for fine bars. Mexican
dollars have arrived freely from the West Indies and from New
York, about £280,000 having been received. There has been
scarcely any deiuand for China, and the greater part of those
sold have been taken for refining purposes.
The weekly sale of bills on India was held at the Bank of
England on Wednesday, the amount allotted being £450,000, viz.,
£190,000 to Calcutta, £164,600 to Bombay and £6,600 to Madras.
Tenders on all Presidencies at Is. 7d. and above received in
The Committee
ao.8)o,e7i
la
to lialiUllles
int-7.
ewt.
ewt.
(MII.OII
Aver, price of Ens. wheat for season
£
I7,>0»,4W
Other si^^curliles
23,719.0iO
Reserve of notes and
.
.
187S.
£
I«,«4t,i8«
u;7-i
imt-t.
ewt.
j
the average quotation for English wheat, the price ot middling
1877.
,
:
291
of wheat
Iin >url> of flour.
ttales of bome-|{rown proaaoe
Coin
1
THE CHRONICLE.
1879.J
Indadlng
MDkpostblJis
:
ISTO.
£2f!,e«l,OJ0
55.02S 1««
12.:i.l,0()9
26,909,5-7
1877-8.
1875-8.
1376-7.
£
£
Wheat
11,761,591
9,660,202
Barley
2,59-2,232
OaU
1,908.608
288,468
«W,'>1S
8,904,719
8,284,857
18,092,814
3.577,174
2,097,993
89I,5:M
765.381
4,999,219
4,103,823
2,20),120
308.818
645,335
4,836.646
2,501,672
I6.«U,<I39
2.244.871
2,570,658
891,147
654,848
3,9C8,'60
2.714,308
23.958,163
34,030,442
2i. 172,769
28.472,tM
Peas
Beans
Indian Corn
Floor
Total
The above
show
£
£
2,8M,576
has coat uB
£10,009,000 less during the past six months than in the corresponding period of last seaEon.
figures
prt)duce
that cereal
There has been a fair consumptive demand for wheat during
the week, and, as far as choice qualities of grain are concerned,
prices have been firm
bat any pressure to sell inferior produce
BnxUnIi market Report*— Per Cable.
has resulted in a slight reduction in the quotations. Supplies
The daily closing quotations in the markets of London and
are ample, although the deliveries of home-grown produce have Liverpool for the past week, as reported by cable, are shown in
fallen cff. The weatLer has become quite mild and spring- the following summary:
like.
Vegetation has made a start, and we may posjibly,
London Money and Stock Marktt. The bullion in the Bank
after a long and trying winter, enjoy a genial spring.
No rain of Englaad has increased £433,000 during the week.
of any consequence has fallen, and the laud is now in a ma>;h
Tubs
Thnr
Moo
Wed.
Sat.
Frl.
U :n:h 15. March 17. .March 18. March 19. Uiico id March ii.
more satisfactory condition for plowing and sowing. The area of
49
*<%
8l!var,peroz
d. 4»>i
4»ii
49J,land under wheat is believed to be small, but the young'plant
Aoisuo lur oione).. >6 13-16 se 11-16 96 11-16 96 13-16 t>7 1-16
account.. 96 U-\i % 11-16 g-i i:-:6 9«J<
looks well. A good deal of land will be devoted this season to a.8.6s (5-20S) I867....I0);<
1U2)|
lOtV
lOiV
;
—
During the week ended March 1 the sales of home-grown
wheat in the 150 principal markets of England and Wales
amounted to 45,514 quarters, against 43,326 quarters last year;
and it is eoiimated that in the whole kingdom they were 182,200
quarters, against 169,300 quarters in 1878. Since harvest, the
alea in tbe 130 principal markets have been 1,472,051 quarters,
against 1,182,155 quarters, while it is computed that they have
been in the whole kingdom 5,888,200 quarter?, against 4,730,620 quarters in the corresponding period of last season, showing
an increase of as much as 1,151,580 quarters. Without reckoning
the sapplies furnished ex-granary at the commencement of tbe
B«aion, it is estimated that the following quantities of wheat and
floor
have been placed upon the British markets
loSX
0. 8. 10-40S
the production of barley.
sitice
harvest
U.S. 5s of 1881
loex
U. 9.4!<POfl891. ...1(7!<
lOlJi
U 8. 4« cr 1907
Erie com. stock
25H
Illinuls Central
SlH
PenDsylv.inia
S53t
Pbila. tL Reudiug... 13
104
103«
lt6X
107X
1C6),-
lOiK
It
107X
IblV
tin
2SK
83
86
83
2>X
83M
12X
35.\
li
101
Liverpool Cottjn Marktt.
107)4
lOlJ,-
— See special report oo cotton.
—
Lioeriiool Breadttafft Market.
Sat.
d.
9
s.
n •artczua8Jkte>....Vbb<. M
W»>a',sprlog,No.tV10>
"
do
do
No. 3
do winter W. now '"
do
Southern, new. "
do Av. L'al. white.. "
"
..
do Cal. club
Hoc.
(.
M
d
Tnas.
s.
.>4
d.
Wed.
s.
24
d.
Thar
«.
24
PA.
d.
t
I
«
1
>
7X
centil.
"
•
ft
.
Corn, mil. sfl,old.
do prime, new,
4.
a.
IS
4
5K
—
.
.!
"
.
.
THE (CHRONICLE.
292
Uvtfrpool Provisions Market.
—
Mon.
Sat.
^
bbl.
Pork, WesI era mess.
Bacon, long cl'r.new.Mcwt.
"
Bacon, shori c'r. new
Beef, prime mess, new.* tc.
Lard, prime West ..,« cwt.
"
Cbeeee. Amer. choice.
8.
d.
8.
d.
B.
43
4«
i7
6
6
49
26
27
71
6
6
49
27
27
3.?
6
710
33
43
3
Wed.
Taes.
d.
71
33
48
48
9
d.
Fri.
d.
d.
b.
5'.
fil
5J
88
28
72
34
31
6
27
83
e.
6
Thar.
48
28
73
31
48
72
34
48
U
p.
e
br 'U^bt on coupons rnt from bond No. 38. issued by the 3t.
RliiiT
Omaha Railr ad Compiny. Oi the back of the
;rrd in evirt -nee was a wriiiug sigaed y ih pr^'sldent and
secretary of the d^^fe ulant company. This writing in in the na nre of a
promise on the part of the defendant company to piy ihe interest coupons
attached to said bond. «nd is in words as follows:
hi* bond fs secured by
a mortgag* upon a railr. ad which is leased to the St. Loui- Knnsas City
NorihrTti Railway Compipy fur a fixed rent equal to th"^ am')anf. of interest
upon the wbole series of bonds, and by the terms of the lease the rent is to
be ai plied bv the Iei»see directly to the payment of t'le interest.' This case
comes squart'ly within the case of Singer vs. St. Louis
(3. &
RIl. Co.,
'I hat
de ided t>y the Court of App'-ali in January, 1879
Conrt holds that the
reports made to stockholders of defendant at their annual meeting', showing
thi'. the bonds thus indorsed had l^een placed on the market and sold to bona
fide purchasers, and the ayment of interest in fact by paying some of the
coupons cut from the same, amounted to a ratification of said promise by
sHid officers, and bin^^s tlie delendant to pay said coupon',
gven if the lease
upon which the pro-niSL- was based was afterwards reje ted by the stockholder.-", still it is not o'en to defendant under the circumstances of the case
to urge the defense of ultra vires or non-rat'ficatiou ot tfie lease by its stockholders, and defendant is esUipoe'l from making suf^'i defense. In this case,
the efore, the plainliir is entitled to recover, and judgment will be given in
•*This suit
's
&
LoniK Council
bend
ff
1
&
Sat.
Hon.
Tues.
Wed.
d.
d.
d.
d.
^
.
Judee Wickham was substantially as follows:
*
London Petroleum Marktt.Petrel'm, ref
gal.
Petrol'm, Fpirita "
Septpmbe', 1873. 10 March, 1874, and paid the three coupons due
io March, 1873 and 1874, and Snptember. 1873.
The opinion of
oriajinal
6
[Vol. XXVIII.
..
-
Thur.
Prl.
d.
d.
...
7X-7X
K
.
4v0mmcvclal autl^isccXlattC0M;s ^cins.
N
i
—
Imports and Exports for the Week. The imports of
last week, compared with those of the preceding week, show
a decrease in both dry goods and general merchandise.
The
total imports were $7,073,817, against $7,937,003 the preceding week and $5,306,018 two weeks previous. The exports
for the week ended Mar. 18 amounted to $.5,900,575, against
$6,344,611 last week and $5,763,155 the previous week. The
New York
following are the imports at
dry
Mar. 13 and
merchandise) Mar. 14:
goods)
for
for the week ending (for
week ending (for general
the
MEW YORK FOR THE WEEK.
1877.
1878.
1879.
$2,483,551
6,830,696
$2,087,600
$1,894,838
$2,789,551
6,458,961
4,831,181)
4,3.36.266
Total for the week..
Previonely reported ....
$S,3 4,2 17
87,E1C,56!
61,803.163
$6,776,024
$7.07.%fil7
65,878,385
T«tal einceJan.
$74,187,632
J«8,849,"24
$^5,187,78S
187fi.
<}eneral merchandise.
. .
J..
1
57,801,299
66,5>i4,-247
$61,880,116
In our report of the dry goods trade will be found the imports
of dry goods for one week later.
The following is a statement of the exports (exclusive of specie)
from the port ol New York to foreign ports for the week ending
Mar. 18:
xzroBTS raox
net tobk for the week.
1876.
1877.
1878.
For the week
$3,8:j'>,591
47,375,769
$4,794,4"3
51,905,610
$3,161,671
Previonily reported....
$51,311,3)3
$56,700,002
Total eince Jan.
1..
The following
Kew
York
show the exports of
the week ending Mar. 15,
for
will
67,0«,9U
1879.
JS,<i03,575
(;0,C9J,817
i75,187,785
$65,994,39J
specie from the port of
1879, and also a com-
parison of the total since Jan. 1, 1879, with the corresponding
totals for several previous years:
Mar. 13— Sir. HerdiT
London
Amer. silver bars. $53,070
Mar. li- Str. Morro Oaetle
Havana
M«x. silver dola..
»4.988
Amer. silver dols.
6,000
„
.« r. , «
„
Mar. 13—Bark Coracoa
Coracoa
Hex. silver dols
«,837
.
«
t
Mar. ..„,„.
16- Bark Kiche
Amer.
sliver dola.
8,500
Porto Cabello, Yen. Amer. gold c^ in
Ciiy of Berlin... Liverpool
Amer. silver bars.
8 034
26.00
.
Mar. 15— Str.
Mar. 15— Str. Main.
Bouthamptoa
Amer. silver bars.
Eoer. sovereigns..
.... Amer. silver bars.
London
Total for the week ($366,995 silver, and'$9,564 gold)
rreTionslT reported ($3,475,582 silver, and $ 134,787 gold)
Total stace Jan.
1.
1879 ($8,812,577 silver,
Same time In—
and
$2,438,827
3,212.177
1871
1870.
10,I06.,^65
IWS
I.%647,nb3
1869
1868
1817
1866
1874
7,10M'>7
}2S
18W
13 67D.f01
7,508
SOl,S0O
3, ti09,605
$3,986,361
in
$13,389,016
6.37.^362
7,439-864
14.1«7,724
6.06",6(3
5,.364,604
4,913,335
of specie at this port for the
been as follows
same periods have
:
Mar. 10—Schr. Wm. DoneIa9S..St. Jago
Amer. silver
Mar. 10— Str. Carondelet
!st! Jagoi!!!'.'."..!!!Amer! silver..!!.'!
Foreign gold ...
Mar. 10— Str. Clyde
Asplnwall...
Amer. silver
.
_
ut.,
T>
.r.
1
Mar. in
10-Brlg
Tttla
!
Fori ign Silver.
.
Belize
»r—
4n
f,.
...
VA
Genaires
ash ngt'n.Uavana
.
sliver!!!!!
Total for the week (*e3,S96 filver, and $1.5,510 gold)
ftevlomsly reported ($2,OC9,5J 1 silver, and $359,939 gold).
Total since
-Jan. 1, 1879 ($-2,132,837 sUver,
Same time in—
1
$4,153.5.35
J|5S
,
I
8.73\i95
916.437
3,149,818
1,034.306
641.8J1
1
and $375,499 gold).
1,606
S,219
4i3
500
629
ISer. filwr!!!
Amer. silver....
Amer. gold
Amer. gold.
Hamm_on
?!'"";;*••.
2?IMar. J?~2il!1:—Str. San DomiDgo!!!!Porto Plata'.!!.'!. !!!Amer.
$?,905
"
9! 433
209
300
Amer? silver....
12~2?'"">.^'°.P"''^
m!I!' 12— Sir. C. ot
Mar.
1876
187S.
•(0]ooo
"isi-fiTTo
$14.3,787 gold)
Same time
1818
18T7
1878
The Imports
—
Panl & Pacific. The Amsterdam bondholders' committee
announced that the bond certificates bought by the AmericanCanadian combination will be paid for in gold within the terms
of the agreement of Feb. 8, 1878.
A despatch from St. Paul, Minn., March IG, says: "Judge
St.
lias
Court of Ramsey County, yesterday granted
ihe application for a final decree of foreclosure against ihe branch
line of the first division of the St. Paul & Pacific Railroad.
The
foreclosure was granted in favor of the trustees for the bondholders, and covers a mnrt^'age of $2,800,000 on the road, machinery,
and the lands, all of which will soon be sold to the highest bidder for cash, sulijfct to a lien of prior mortgage f«r $1,200,000,
under process of foreclosure in the same court, and under which
a further sale will take place in due time.
Tne purchasers under
the foreclosure will be the parties who already practically own
the road, the sale being in the nature of perfecting title rather
than transfer ot property."
Brill, of tlie District
FOREIOH UlPORTfl AT
Sr;GoodB
his favor.
8,900
1(1.968
!
45!704
~»TO"80a
2,4 w!530
.
..
$2i:08,S36
same time in1872
»5.35,619
1871...
1870
1889
1868
1867
8.748373
3,931 K18
—
Tennessee State Debt. A press despatch fro-n Nashville,
Tenn., March 20, says that Q iv. Marks sent to the Legislature a
message, with a communicitiou from railroa'is of the State,
proposing to abandon all claims to charter exeinoiions from taxation, and to submit sudi an assessment on property as nill contribute (rom $80,000 to |100,000 a year, or a tai of 40 cents on
each $100. The message led to a conference of Senators of
opcoaiiig views, which resulted in a compromise bill, to fund at
50 cents on the dollar bonds to run thirty year.i with interest
at 4 per cent for 15 years, and 5 per cent thereafter; one-third
of the bonds to be issued in denominational sizds of from $3 to
flOO.
;
Wabash. — A dispatch
from Urbana, 111., on Wednesday,
had been served on the ag"nt of the Wabash
Railway (Company at I'olono that an application for a receiver of
the road will be argued on Tuesday next, before Ju l>;e Smith,
stated that a notice
at Urbana, III. The officers of the company in this city state
that their general solicitor has telegraphed that the new suits
are identical wiA the Tysen suit now pending in the tluited
States Courts of Illinois, and that he will promptly have them
also removed to the United States Courts.
—
Wallkill Valley. Receiver Best sold on the part of the
National Trust Cotnpanv $150,000 of second mortgage income
bonds of the Wallkill Valley Railroad Company, npon which
the company had loaned $30,000, or 20 per cnt of their par
Ihey sold in small quantities at from 10 to 14^ per cent,
value.
realizing $18,000; a loss to the company on its loan of over $12,000 with accrued interest.
Western Maryland. The Baltimore City Coancil has passed
theordinance which authorizes the Finance Commissioners to fund
the coupons of the first mortgage bonds of this road, which
have been paid by the city as indorser, and those of the preferred
stcond mortgage bonds held by the city, and which may mature
to July 1.
The card of Mr. S. D. Loring, 51 State street, Boston, Mass.,
Mr. Loring
will be found in this number of the CHKONiCiB.
deals in all classes of investment securities, especially in Western
As he was formerly cashier of the
city, town and county bonds.
Blackstone National Bank, in Boston, he is well known in that
city, and parties wishing to buy or sell in that market are invited
to open correspondence.
Mr. J. M. Lichtenaner has taken the offices No. 7 Nassau
street,*near Wall, and proffers his services in advising investors
as to the beit method of placing their moneys in legitimate
secuiities.
He has had an experience of some yean in the study
of the character of different securities, and refers to the wellknown houses of Hallgarten & Co, White, Morris & Co., and
—
—
—
Marx & Co.
The Bodie (Cal.) Standard reports an increase in the capital
The Standard Consolidated Mining Company," and
stock of
St.Lonl8Kan8asCity& Northern.— The Minouri liepuUican a good prospect in the mine. It adds, "with a litte- increase
reports that one of the suits brought against this
company has of the company's milling facilities there would be no difficulty in
been decided by Junge Wlckham. The plaintiff,
Geo!
declaring one dollar monthly dividend. The new capital is
1874..
1678.
I
I
8611712
l,126!oi5
408 139
—
•'
W
laussig. brought his suit upon coupons of bonds
ipsued by the
Council Bluffs & Omaha Railway Co. It was urged
that the
K-ansas City & Northern road had promised to
pay the interest
coupons on these bond«, in consideration of a lease of the
Council
Bluffs road to it.
The defense was interposed that the officers of
ueiendant had no authority to promise the
payment of the
coupons of the Council Bluffs road, and that the
lease, which was
"'!' "-ejected by defendant's stockholders in
Mlr^^'^Vinl"^^^'.
"larcn, 1874.
Defendant operated the Council Bluffs road from
100,000 shares.
Messrs. John J. Cisco & Son are now offering a limited
amount of Louisville & Nashville first mortgage seven per cent
bonds, Cecilia Branch, at par and interest, and investors are
invited to look into the merits of these bonds.
Attention is called to the card of Messr.i. R. M. Waters &
Co., who have been well known for yesrs in cotton circles as one
of the leading firms doing business as merchants or bankers.
Liberal advances are made by them on cotton In store.
—
—
:
Maiich
;
:
THE OHRONK.LE.
aa, 1870.J
298
1879.
Mnr. 13.
Ntril>l<l\L
ORO \NIXKD.
B1NK!I
The
TTalted SlatHn Cuiuplroller of the (Jiirrttricy farniahei the
fotlowintr Htatmm'nl nt national banks orKaaized
Aulliorlxcrt cnpltnl,
•J. 415— Fort Pitt NiUloniil Hunk of ritt«l>iir»{, Pii.
:
*v;0O,OO0:
piiirt 111
04Hiltiil.
^lOSj:)!),
DuvIiI ll.mtiatdr, 1*it«I-
Autborlzod to cummcuc'o busl
iicnt; (>. I^<ct WilKoD, CiwUlor.
ui>«» Miircli <i, IH7!>.
J.tI7— OskiilOHKii
N;itl(>iiul Bank, OiikalooHa, Iowa.
Authorized capital,
$r>0,000; paUl-lii capttul, $50,000.
M. 10. Ciittit, Fl-CHlilcnt;
W. A. I.tnOly, C'luhler. Aiitliorlzod to oommuuco buslnoaa March
12, 1870.
i!.il8— Klrst Niilloniil Hank of Johnstown, N. Y. Authorized onpital,
JllOO.OOO p^ild-lu oaiiltiil. $.J0,0OO.
John 8t»wart, PreHldont
Ilowhiiul KIhIi, Ca^lilur.
Authorized to ooiuntunco biisluusg
;
March
l;t.
1S7!I.
^.11»— Wiuated
Niitinnal Kiiuk, Wlnstcd, Conn.
Authorized capital,
.$30,000: piildin capital, !?J3,(>16. John O. Wctiiioro, Pri«lilent;
lleiiry C. Young, Cuahlor.
Authorized to couiuiouco buslueaa
Morob 15, 1870.
nefoMowlc2
Ul
V
MlMK OF
CosrPABT.
inclasiTC.)
Hallroada.
Acbnelot
Chicago Clinton Uubuqne
Cblcai;o
Milwaukee
A St.
A Minnesota.
Paul pref
IX
2«
ITnioii Pacific
I'nited
New
qoar.)
Jeraey (qnar.)
VHIDAV, niAKCU
April
April
April
April
4.
16.
IS.
1.
Apr.ll to Apr II.
Mar. 30 to Apl. 15.
Mur. 21 to Apl. 1.
Aiiril 10.
1819-6 P. m.
market and Financial SItaatlon. —The
Tbe noner
21,
week has been one of c nsiderable uncertainty in financial circles, owing to the apprehensions of a closer money marfeet and
to the saspension of payments by the banks in New Orleans.
It
was reported several days ago that some of the banks subscribing
to the 4 per cent loan had been called upon by the Treasury
Department
to
per cent, and
pressure.
.
United State* Bonds.— The niark«<t for (lovernment boada
has naturally fallen off on account of the circumstances referred
to above.
Prices of all the Investment bonds are lower, inelading tho new 4 per cents, and those bonds only hold their pric«a
which had already been forced down by the prospect of oieintr
speedily called in— chiefly the flve-twenties
It Is anticlpatM
that for a few weeks the Uovemment tiond market may b« a
little unsettled, until the Secretary of the Treasury has shown
that the changes pending can be made without any disturtwnce.
A list of all the called tx)nd8 yet outstanding was published in
The
CiiRONirLB of March 15, page 370.
Closing prices at the N. Y. Board hare been as follows:
Interest
Period.
Bnoxa CLoaiD.
ClNT. Patablb. (Dayi
61,1881
6«. 1831
6»,
6s,
68,
68,
58,
reg. J.
6-20S,
5-20«,
8-208,
5-208,
was
1 his call,
misunderstood, as
would exert a considerable
however, appears to have been somewhat
10-40S
58,10-408
should be taken in connection with the
notice issue i by Secretary Sherman on Thursday that he will
redeem immediately the five-twenty bonds embraced In the 76th
to the 80th calls inclusive, which mature April 1 to 11, amounting to $50,000,000. The Secretary has given tliis notice in
advance for the sole purpose of facilitating the April settlements
without disturbing the money market, and he estimates that not
over $10,000,000 in money will bo required, as the balbnce will
be turned into the Treasury in called bonds. Subscribers to the
4 per cents are allowed to pay for them in cash or in called fivetwen'ies, but if they do not so pay, they are required to leave a
margin of 5 per cent in bonds as security for their subscriptions,
instead of leaving only the identical bonds subscribed for without
any additional security, which would scarcely be a business-like
transaction on tlie part of the Treasury Department.
The trouble among the New Orleans banks is supposed to have
started witb the suspension of the Southern Bank, with a capital
of $344,500, largely invested in Louisiana State co 'Sols, and the
embarrassment of the Mechanics' and Traders' Bank, with a
capital of $800,1 lO).
To avoid the consequences of a run on the
other banks the New Orleans Clearing-House Association on the
morning of the 20th published the following, which is enforced
by the banks
Setolred, That in order to protect the bualne.s3 community of this city
from the calamity of any further eu^pcnsious of bauka ariain>; from
what appears to be an entirely unnecea.sary panic In the witlidruwal of
deposits from banks known to bo solvent and sound, it is hereby resolved
tbst the Clearlng-IIouse banks shall not pay out on cheeks more than
$200 to any one depositor on iiny one day. All other payments sliali be
mode by ocrtltloation of chockH which shall be received on deposit by
banks members of the ClcurinK House. This arrangement U to be temporary, and shall expire on Saturday, the '29th instant.
The object of this was mainly to give the banks time to get
funds from New York,' and on the same day, Thursday over
$1,000,000 was shipped from this city, 'ihe dilBculty with the
New Orleans banks has probably been duo, in large measure, to
the decline in Louisiana and New Orleans bonds, and it is
among the few cases in which failure of a State or city to meet
its obligation, has fallen most heavily upon its own people.
There was very 1 ttle additional demand for money from Now
Orleans to-day, and the whole flurry in that city seems to be
regarded her^e as a matter of litile more than local importance.
Our local money marKet has been quite irregular, with wide
:
fluctuations daily in the prices of call loans.
On Government
collaterals a fair quotation as a minimum is 3®4 per cent, while
on stock collaterals the ratf s are 4@7 per cent. In commercial
paper there is very little doing for the moment, and choice paper
is quoted at 4 J to 6 per cent.
"I'he Bank of England weekly statement on Thursday showed
an increa.se of £443,(100 in specie, and the Bank rate of discoant
remainsat 3i per cent. The percentage of reserve is 50 15-10,
aeainst 50 S-!6 last week. Silver is quoted in London at 48id.
The Bank of France gained 15,87.1,000 francs during the week.
The last statement of tho New York City Clearing-House banks,
issaed March 15, showed a decrease of $370,7SJ in the excess
above their 2-> per cent legal reserve, the whole of such excess
being ^3,844,075. agains'. $4,215,785 the previous week.
The following table shows the changes from tho previous week
aad a comparison with the two precedmg years.
&
&
&
&
&
March March March Mareh March March
I
I
IS.
17.
18.
100>4
'10fl>4
19.
10238 •1023b •102% 102% •10238 •1023*
10238 102 »8 102>;^102i%
102>2'*102!>8
.
This
•
is
jr.
&
J,
Range
1881 ....cp. lOS^B Feb.
68,
6s,5-208,'65.op
68, 5-208,'67.cp.
68, 5-208,'68.cp.
58, 10-408... cp.
104 >a
1,
98T9I
999g
98>ta
99 •
99>«l
I2II1I 121%) 121 >a
1,
at the 13oar(L
1879, and ihe amount of
1879, were as follows:
Amoimt Mar.
Highest.
10838 Jan.
1,
I
2'
132,9.51,000
4
4
16,421,500
144j302,900
53,rund.,'81.cp. x04iiFel). 14 107ia Jan. 151 255,773,1.50
4ise, 1891 ..cp. 104
Meh.2lll0638 Feb. 281 165,583.700
4s, 1907 ....cp.
993b Jan. 3il00ia Feb. 17! 2.">U,;5t3,400
Feb. 20
6s,ciir'ncy.reK. 119i<t Jau. 4;122
64,023,512
each
1379.
Coupon.
Segtstered.
8 lOe^a Jan. 17 $201,075,400
12,096.200
101% Jan. 24 10238 Jan.
1021a Feb. 3 104% Jan.
lOmMcb. 19
104
tot's
104 >4 104 >s 104
Ws
since Jan. 1, 1879.
Lowest.
1013s
lom'ioivii^ioiu
101^ lomi 10114
made
tho price bid: no sate was
in prices since Jan.
bonds outstanding Mar.
lom lom
101>4^101'4
12f8
t21?il»121^
The range
class of
loiiii
8.
8.
I
Cs. ciir'oy, '95-99 reg.
21.
20.
106 )« •106
106
106>4 *106>4 106>4 106
•106
106
102>9'102'« •102>e 1T)2V| •102«9'102»«
102'4-102'6 •102>8 102ie •102 >« •102%
106'.|
'lOl'^s'lOl^'' 10159
coup. M.
•loi^i'ioi'',; 101 3t
5s, fund., 188l...reg. Q.-Feb. 104"«'10l^f 1013b
&s, fund., 1881..noup. u.-Feb. 101l3'l0»38| 10l3e
4i98, 1891
reg. q.-Mar. •1041s 10l»s, 104 1»
4ias, 1891
coup. (J.-Mar. •104\''104%' 104%
4s, 1907
reg. Q.-Jan.
99
99
99
48, 1907
'OOTa
coui>. Q.-Jan.
100
rcg.jM.
said that this
it
A
J.
coup. J. dc J.
1807...reg. J. <b J.
1867 .coup. J.
J.
1868... reg. J.
J.
1868 .ooup.'J.
J.
pay their subscriptions or to put up a margin of 5
it
1877.
Mar. 17.
.
lUKNUH.
Whin
1878.
Mar. 10.
(/<mn«nnddbi. $-Un.H2i.f>00 Dee.$l ,349,700 #242,978,000 $2.in,2!)7.ira
SlMTle
17.:il2.40O Ino .
307,200
30,.'>4.'i.woo
21,407.000
Clrftilatlon ..
1 0.;i.'l5.20O Ino
09.200
l»,»IO,70<J
I '>,.'i<l8,900
N(^t iletM>slta
2 lo.,*) 1)3,300 Deo. 2,729,800 2l.'>,0M,->,l(>l| 22 1. HI 7.900
Ijegai tenders.
30,173,400 Deo. 1, 420,400
30,:<2U,200
«3,3S0,100
dIrldendB Dare recaatlT beeo annoanced
Pkb
DiOiir'ncoa fr'm
prevloiM week.
$81,660,950
3.S99,900
170,021,600
21,033,700
50,263,400
252,667,200
84.4 16.300
150,586,600
Closing prices of securities in London for three weeks past
the range since Jan. 1, 1879, were as follows:
Mch. Mch. Mch.
7.
V. S. 6s, .5-208, 1807.
U.S. 58, 10-403
U.S. 5»of 1881
U.
8. 4is8 0f
1891...
U.S. 48 of 1907
14.
Range
21.
since Jan.
Lowest.
1,
and
1879.
Highest.
lOS'g 103Tg
103% 10338 Jan. 23 I04''g Jan. 2
103''8xO3%Mch.l5 111 Jan. 7
lot
1061c lOfiio 10638:10614 Feb. 11 109% Jan. 4
107T8|1073(.|107
107 Mch. 21 10919 Jan. 29
1021a xOlSsllomlxOli* Mch. 21 102% Fob. 28
101
—
State and Railroad Bonds. The price of Louisiana consols
has been less influenced by the New Orleans troubles than might
have been anticipated, and to-day the closing price was 49. In
Virginia, it is expected that the Compromise bill will become a
law, although the obstructionists in the House are making every
The last proposition in Tennessee is a " scaleffort to defeat it.
ing " of 50 per cent and new bonds bearing 4 per cent interest.
In North Carolina preparations are making to carry out the provisions of the funding law just passed, but bohdholders complain
bitterly of the small allowance offered.
Railroad bonds have not been quite as strong this week, and
some of the popular bonds have sympathized with prices in tho
stock market. The Union Pacific Railroad suit involving the
validity of the Pacific Railroad Sinking Fund law of 1878, has
just been argued in the Supreme C!oart at Washington.
Messrs. A. H. MuUer & Son sold at auction tha following
securities, seldom sold at public sale :
Bond:
Sfiaret.
99>9 $10,000 City of N.Y. 7«, reg.,
50 Kat. Park Bank
oonsnl., 116 and Int.
50 Ninth Nat. Bank (n. s.) .. 70i4
6,000 County of N. Y. 7»,
132
17 Standard Fire Ins
reg., uccum. debt bond,
15 Mutrop. Gaslight Co. of
Brooklyn
SlHi
1091a and Int.
2,000 South Side RR. of L. I.
140
70 Hamilton Fire Ins
7a, sinking fund binids
124>aa>124
40 Home Ins
19714
5,000 City of Newark, N. J..
25 Fetor Cooper Fire Ins
7s, city luiprov.. Ill and
no's
SStar Fiiu Ins
bit.
35 Coney Island & Bi-ooklyn
27ia
8,000 N. J. A N. Y. RR. 1st
(Horse) KR
mort. 7s
135
400 Brooklyn City RR
8,000 Central Park North .t
70
5 Etna Ins. of N. Y
208*208ie
Fust River BK. Co. uonsol.
172 Broadway Ins
mort 78
BonHa.
5,000 Blce<'ker St. & Fnlton
$3,000 Central Park North &
Ferry RR. Co. l»t mort.
East River RR. Co. Ist
extended 7b
101%
mort. 7s
1,242 50 Long Island Ins.
5,000 St. Louis Vandalia &
scrip
10414
T. H. RR. 1 St mort 78
500 City of Davenport ooiu.
5,000 Trust. Cert. N. J. Mid.
debt 78, gold bouda
RR. Co. 1st mort. bonds.. 36
—
ISti
1 •*
95"*
90
66'g
95
5,000 City of Nowburg 78,
....108%
reg......
The following were
also sold at anction
Bond*.
$C,OO0 Newtown
l8t mort.. 78,
4 Flush. RR.
due May 1,
1891, Int. and prin. guar.
7OI4
by Long Island RR
:
**"'^„
500 Brooklyn City Rir.
(100 Metrop. Gaslight 0»
I
,<»
137
126%
I
I
Cnosing prices of leading State bonds for two we«k« pMt.
the range since Jan. 1. 1879, have been as follows:
Mid
W
..
.
.
States.
McL.
Mch.
14.
21.
Range
Higliest.
;
—
announced.
daily highest
and lowest prices have been as follows:
Saturday.
March
Canada Souib
pref.
Cblc*
do
C. U.
North
pref.
*
I.
eaii
.
Cfntral of N.J.
Chic* Alton,
Chic. Burl.iQ.
C. Mil. & St. P.
Pac.
1
15
Friday.
Monday. Tuesday, Wedn'bd'y Thursday.
Mirch 17. March 18 Ma-ch 19 March 20. March 21
e3>i
SM
Ti\
31H :««
TO
70Hi
39M S7«
1V% 7H)s
<XH
3H»
79><
80« 61%
61
37j8
3H»4 37M 3f% 37 !i
T^k 7H% 7M% 79% 79W
112^ 113>i 113^111
115V< lU
M14H16>i
31% 3i% 3S5i Sf>i 3SW
87.K 38|s ii't
82
SIX 8:H« 82^^ Si% H2M 83
5'^ SrtJi biM 5811 55J< IIH ?ia ,?5^ 54'^
BB
81?<
8t»t Bfltj 8;V« M'4 S7Xil S4J« f6
VMH
131'^ ISlii 129
i^)i 43>B 42}^
91U 91U 91 !<
las
131S^!l32
4 :« iV^ 43^5 41
CleY.C. i;.&
Bl«
Clev.ft P., guar 9lg 12
Col. Ch. * 1. c.
VH S-H
Del.A U. Canal 4njJ 40*1 40« 41
Del. Lack. db W 4«>« i1% «J< ITK
Brie
24?i 25H 251.4 255^
45
J6«
do pref
i4(i 4)
1
Ban. &
do
3e»i
80>8
114
39Ve
115
Wi
15
16
St. JQ..
14>«
pref. 43
Illinois Cent... '79
IB
^'jH
43X
4S>(i
^i^^
453 4-
81
SI
nM
'iili
2.)«
44(1
4ig
15^
44K
ISii
45)4
»Ui
«,!%
KanSHA Faclflc 20
ii'^ 20>.j 21«
Z\hi
Lake Shore ... 71!< 715< ;i« 71H 71
n\i
Michigan Cent
87%
nra s89« 87
?3^
Mo. EUD.& Tex 'l^,
«
I'j
»>«
9^
Morris & Essex •83
N.Y.C. &H. K.
Ohio AMISS...
PaclOcMail....
83«
84
»iH
t^4
11
1214
MM
isil
\3fiii •
131
...
6i-i
lOX 1IJ4
12H 12%
11
13
133
1)0
l.SO
56JS
130
41
129%
129.1,
40!.:
i<H
41
5W
42vt
91
5!|
3;<!?
40?2
451,
234(
46i(4
24%
iS
15)i
40% 40k 3-H SVH
4t)ffi
40
45% W4
24
24%
43« 44K 43U 41
15
15
15% l.i%
13% 43J.I 42% 431.4
«0>« MOji 80% 80%
20
21
»0
20%
70% 71
mn 'O'ri
86
85% 8% m.
43-4
8ll3
20!<
-m
8-)>s
41%
^1!*
i<H
71H
87)2
HH
fl
sajs
U4MU44* lliH
IICK I114«14H
118
81% 82%
54% f,bH
84% 85%
83>),
131« 129
39
3854
asjH
8-.9,
12
130
83
VM^ 9\% 90%
5%
•5
8%
5
6X
8%
9
83
83
91
Plt«e.n.W.&e. •105H 1>1 '!05^]06 10« 101 105 1053i 108 106 •!05m06
St.L.I.M.ASo.. 16H \!>H •15« lrtS<|'151i 16
•15« 15% •15
1.5V 14% ISii
Bt.L.K.C* No
8^ »H
BX
m\ »% v^ 8« 8g 8% 8ft 8
do
nref 3<M 31^ 34?4 34« 34>< SVj^
3JM 33V
m
St.
L& S.Fran,
do
do
7K
>m
"'H
pref.
Ist pref.
18»<
185«
3M
S%
Sntro Tnnnel.
nnlon Paciac
9!*
T^H
,
Wabash
West. Un. Tel
74
%
'^
1%
S|
ki
9%
4
72}^
45%
733l 73W Ti'^
1'%
HO-jIt
8H
17^ 19
1^
17
4'4
18« IVX
104« 1045t 104J4 104 ij 1101
8%
8^
IMi 17%
17
17« 17?
I&tt
1^
73V4
rAi\x-0
18^;
18(<!
IHW
19'^
72
20
1«
5eixl03 103%
104>s 103%10!54,tlUi>i
• Tbese are the prices bid aua asked no ititU was iu;ide at the
(Sales were also made, ex div., at 103i2'aiO4.
;
Board
Canada Southern..
Central of N. J
(aiicago & Alton
Clev. Col. Ciu. & lud.
Clev. & Pittsb.,guar.
Col. Cbic.& lud. Cent
Del. & Hudson Canal
Del. Lack. & Western
Erie
do pref
do
..
pref.
Pacific
I>ake Shore
Michigan Central....
Missouri Kan.
& Mississippi
PaoiiIo Mail
~
7,650
I
do
St. L.
A 8.
Francisco
Uo
prof
do
1st pref.,
Sutro Tunnel
TluionPaciflc
2'>,9
3S,.5.55
Tel..
I
9%
9
1
•5712
Jan.
...
13
.Tan
10
451s
45 14
85
114%
27 12
64
547e
32I2
55 14
79 ij
59%
98%
84%
122
38 14
18
478 Mch. 1
81
Feb. 19
25
10 J
3I2
19
113
lia
5i«
3'2
6II4
.Tan.
12^8
\f
7
7%
2ii>s
4l8
5-4
11%
5
73
2378
ln'2
the
^^
.
.
.
March
•
'•
•'
Central
St.
of N.J.
Paul.
Total.
^'=^"'^"'«' '^«
Erie.
Shore.
16,463!
9,950
21,950; 13,285
9,6001
9,500!
23,800' 10,210
7,710
13,025,
4,000
15,530
12,150
11,450
15...
17...
18...
19...
20...
21...
21,710
33,430
35,920
23.650
13,500
10,400
2,150
11,460
13,080
22.340
17,070
14,300
2,940
3,100
3,800
8,850
8,000
17,600
55,140] 67,705 130,375
6J,255 110,670
80,400
44,290
13,035
12,405
9,060
12,580
6,210' 11,825
8,800
5,800]
..
Lake
North- jN'rthw. Del. L.
pref.
west.
& West.
9,500!
17,700.
Whole stock. 206,0001154,042 149.888 215.2.56 524,000 762,000 494,660
Tlie total
number
last line for
of shares of stock outstanding
the purpose of comparison.
is
given in the
—
Exclianee. Foreign exchange has been somewliat unsettled
by tlie condition of affairs at New Orleans, where so large a part
o-day, the actual price for
of the cotton shipments are mide.
sterling bills was about 4'8I5 for bankers' 60 days and 4'88i for
demand, the nominal rates of leading drawers being about one
I
point higher.
For domestic bills the following were rat«s on
undermentioned cities to-day
the'
New York
^"°<^
""^
at
:
New
bank, par. SavanOrleans, commercial, 5-16 discount
Charleston,
buying, i premium
selling, J premium.
St. Louis, 50
selling. J, ^@i premium.
scirce
buying, ])ar
premium. Chicago, firm 1-lU discount selling, 1-iO premium.
Boston, 9 pence to 1 shilling discount.
Quotations for foreign exchange are as follows:
;
nah,
;
;
;
;
60 days.
21.
Pi'ime bankers' sterling bills on London.
Good bankers' and prime commercial.
Good commercial
;
Documentary commercial
Paris
.
(f I'ancB)
Antwerp
(f raucs)
Swiss {fi'ancs)
Aiusterdaiu (guilders)
Hamburg (rcichmarks)
Frankfort reichmarks)
Bremen (rei jhm irks)
Berlin (rexhmarcks)
(
Demand.
®4.89ia
4.86i2'a4.87
4.86 8/4.8612
4.85 ®4.86
4.84 W4.85
4.89
o.l9%a5.i8ie
5.19%®5.18ie
5.167e®5.15%
5.1678®5.15%
5.18%®5.18%
5.167e®5.15«8
40%® 401s
403iB®
95 162/
4014
95%®
95'4
95 14
®
®
— —
-a
95%® 95%
95%® 95%
95%
95%
—
The latest railroad earnings and the totals from Jan. 1 to
latest
dates are given below.
The statement includes the gross earnings of all railroads from which returns can
be obtained
The
columns under the heading "Jan. 1 to latest date"
furnish
a^Z^e^r column.^'
. .
9558®
9518® 95 14
9558®
9518® 9514
6312 85
2ife
6%
The
following are quotations in gold for various coins:
31% 5978
Dimes & 13 dimes. — 98 ® —
$4 84 ®$4 88
41
6178 Sovereigns
Silver 14S aud "as. — 9.S%® —
3 83 ® 3 87
7% 2212 Napoleons
— 92 ® —
Five francs
21I0" 38
X X Reichmarks. 4 74 ® 4 79
Mexican dollars.. — 84 ® —
3 90 ® 4 00
10
lo's X Guilders
English silver
4 75 ® 4
21% 41%. Spaii'hDoubiooiis.lS 65 ®]5 95
Mex. Doubloons.. 15 50 ®15 65
Prus. silv. thalei-s. — 68 ® —
72% 87
— 98'«®
lOJia® IO7I4 Trade dollars
4
12% Fiuc silver bars
Jau. 25
19% Mch.
Jau.
17% Mch
3"i.vml 9438
23
i;S%Jan. 30
7% Mch. 14
9isMcli.l4
2% .Jan.
10
11,388
Wabash
western Union
4.735
7,000
1 1 ,078
9.945
.,,.,.,,
9,5<H
.
.
Fine «old bars.
Bontou
98%
99>4
95
85
80
70
98''i
New silver dollars — 99%® — par.
The following are the totals of the Boston
par.®iei)rom.
It.-inkM
lanUs for k series of
'1
Jau.
Jan.
13 Jan.
7 Jau.
251B Jan.
3^8 Jau.
4ie Jan.
400
.
March
"4'8Jan. 2« 5578 71%
90k Jan. 27 58 iv 75
11 Mch. 13
2
7ie
8678 Feb. 18 67% 89
120 Feb. IS 103% 11.
13 Feb. 17
0% 1114
15 'a Feb. 18 12)2 2.178
136 Feb. 20 112
131
1071a Jau. 24 85
102
1T1« Jan. 24
ir.%
5
123
160 101
& Cliic.
30
.
10% Jan
!
13ii
66%
99I4
.
7% Jan
.500!
38
19
28
28
27
19
18
.
112!>8Jau.
—
4,2-25
28]
6ie Feb. 11
4514 Jan. 24
5558 Jau. 27
27% Jan, 25
5114 Jau. 30
16% Feb. 10
4514 Mch. 17
89 Jan. 30
221a Mch. 7
]
2..=)00
..
& South
& North
88 J.an.
I22I4 Feb.
48% Jan.
8512 Jau.
05% Jau.
91 % Feb.
135
Feb.
48'e Jau.
95 Feb.
1
Panama
Pitts. Ft. W.
8t. L. I. Mt.
Bt. L. K. C.
Mch.
I
& Tc.N
Morris&Essex
N.Y.Ceut.&Hud. R.
Onio
75
1
Illinois Central
Kansas
33is Jan.
718
do
do pref.
Chicago & North w...
do
do pref.
Cliic.Rockl8l.& Pac.
do
631s Mch. 15
47% Feb. 17
1,289 lllieJan.
67,705 34% Jan.
24,608 74% Jan.
130,375 49»8 Jau
60,255 7678 Jan.
6,787 119 Jau.
1,354
31% Jan
1,601
8412 Jan.
1,695
5 Jau.
3,505
38 Jau.
110,670 43 Jan.
80,400 21isJau.
0,023
37isJan.
3,670
13i4Jan.
9,600 3 1 Jan.
1,085
80 Jan.
8,550
fligjun.
44,290 67 J;in.
18,017 73% Jan
14,000; 5:% Jan
4.254 75i8 Jau.
for
Low. High
Highest.
45i4Jan.
8,275
55,140
<aio. Burl.A Quincy
_.
Chlo. Mil. &
St. F
&8t.-
Hannibal&St. Jo.
Lowest.
.
1878.
Week.
Shares.
and
Kan^e
Prices since Jan. 1, 1879.
.
;
Total sales this week, and the range in prices for lSr8
since Jan. 1, 1379, were as follows:
Sales of
.
$67,932 $812,000 $427,415
Atl &Gt. West... January .. 309,121 298,976
309,121
298,976
142,537
Atlantic Miss.& O..Tanuaiy .. 109,894
109,894
142,537
25,329
33.533
Bur. C. Ran. AN.lstwkMch
239,968
346,141
16,055
13,048
Cairo & St.' Louis. February
32,109
24,015
58,060
67,111
Central of Iowa.. January ..
58,060
67,111
Central Pacific. ..February .1,093,000 980,528 2,182,166 2,091.516
91,410
85,230
822,9.57
Chicago ife Alton.. 2d wk Mch
755,162
Chic. Burl. & Q.. .January ..1,105,098 1,045,467 1,105,098 1,045,467
14,999
13,574
162,132
Chic. & East. lU.. 2d wk Mch
152,646
145,382 1,343,000 1.680.637
Chic. Mil. & St. P. 2d wk Mch 144,000
Chlc.&Northwest.lstwkMch 212,476 235,744 2,151,706 2,398,492
6,509
6,372
Clev.Mt. V. &D..lstwkMch
59,994
62,740
19,705
16,430
Dakota Southern. January ..
19,705
16,430
Dubuqufi&S.City.lstwkMch
16,979
19,703
130,995
190,774
43,948
33,909
Gal. Houst. &H.. February
92,880
75,875
Grand Trunk.Wk.end.Mch. 8 164.694 180,095 1,696,776 1,781,157
Gr't Western. Wk.eud.Mch. 7
86,617
77,192
815,410
955,202
Hannib8l&St.Jo.2dwkMch 44,137
37,303
359,977
333,745
260,740 239,202
Houst. & Tex. C. January
260,746
239,202
Illinois Cen. (III.). .February
379,377 380,048
829,958
867,798
(low.i). February
95,866 131,339
do
196,439
268,248
Indianap.Bl.&W.l8twk>fch
21,044
25,382
204,553
238,859
lot. &Gt. North. .IstwkMch
29,145
25.076
337,913
272,691
Kansas Pacittc. .2d wk Mch
81,036
06,254
596,255
489.766
Mo. Kans. & Tex .2a wk Mch
54.663
52.527
496,430
501,785
February
Mobile & Ohio
165,600 188,790
355,600
460,782
Nashv.Ch.A8t.L. February
158,034 155,771
315,312
333,577
Pad.&Elizabetht. IstwkMch
4,970
6,734
52,062
61,573
Pad. &Memplii8.. IstwkMch
3,254
5,807
31,834
39.968
January.. 212,748 220,498
Puila. & Erie
212,748
220,496
673,980
Phila. & Reading. January -. 957,215
957,215
673.980
8t.L.A.&T.H. (brs)2dwkMch
10,650
9,848
113,112
94,987
94.948
86.500
857,044
911.505
St. L.Iron Mt.&8.2ilwk Mch
77,004
73,186
664.466
St. L. K. C. & No. .2d wk Mch
03.5,373
St. L.&8outliea8t.February
88.731
82,725
171,208
168,692
St. Paul & 8. City. January ..
46,724
40,467
46,724
40.467
Sioux City <k St. P. January ..
21,948
25.908
21,948
25,908
Boutliern Mmn...Jiuiuary ..
37,151
60,016
37.151
00,016
Tol.Pcoiia&War.2lwkMch 22.001
20.693
216,869
269,015
tJniou Pacittc
February. 747,701 679,768 1,438,302 1,377,268
Wabash
2dwkMch 74,314 75.128
826,179
780.660
Total sal-s if tlie week in leading stocks were as follow-
4%
88
4%
78^ 73H
—
WeekorMo.
11%
iiZ 82X
114^ 114% 114% 113% 114
lOH 10^ lOK 10%
laS 12S 124
1^^,?,^^
ISO
131
130
XXVm.
& 8. F.lstwkMoh $114,500
Atoh. Top.
47 Meli.l8 69 Jan. 6
49
481s
•104 -1041s lOSOgMch. 5 10612 Feb. 12
Feb. 8 22 Mcli. 20
*21is 18
21
33 •34 35 Mcli. 8 42 Feb. 13
•76
•75
Virginia 68, consol
•43
2d series.. •43
do
do
81
Si's
79H! Jan. 3 83% Feb. 27
Dist. of Columbia, 3-65s
* Tills is tile price bid
uo sale was made at tlie Board.
Railroad and miscellaneoua Stocks. The stock market
has been devoid of any conspicuous movement, as there is a general disposition to wait for the April settlements before commencing active operations. The money market has been working
more closely for some time past, and with the possibility of a
temporary stringency in money next month no one is inclined to
buy heavily at the present moment. It is to be observed, however, that there is apparently no loss of confidence In the general
value of stocks, and the possibility of a pressure for a week or
ten days in the New York money market is a matter of so little
imporiance to strong holders that there is little disposition to sell.
The coal stocks hold their own tolerably well, both here and in
Philadelphia, although the prospect for a better business is not
good, so far as the public can judge from the prices of coal and
such facts in regard to the trade as are given out. A negotiation
is pending between Pacific Mail and the Panama Railroad as to
an adjustment of the debt of the former, but no settlement is yet
[Vol.
-Latest earnings reported.
—Jan. 1 to latest date.1879.
1878.
1879.
1878.
since Jan. 1. 1879.
Lowest.
Louisiana consols
Missouri Gs, '89 or '90
Nortli Carol ina 68, old
Tennessee 68, old
do
.
THE CHRONKJLK
294
The
.
.
wpeks
Specie.
past:
L.
Tenders. Deposits. Circulation Agg. Clear
»
i
1878.
f
Nov. 4.
Nov. n.
Nov. 18.
Nov. 35.
126,<:a5,!(!0
IJ",
2,40.)
:.>,'8i8.000
T.3.S4,6O0
63,2.3,4011
55,429,400
^,9 0,800
23,46:1.700
3,135,003
7.78T.500
8,OCJ,800
5),95S,500
l'is"J2,!KK)
56,25.S,400
•25,l.>-8,700
47,''70,092
liil,47-',(iOU
2,«33,'X)0
8,2-J8,i;00
2.
128,'^98,f00
2,862,400
8,o55.500
65,iH,9(X)
55,7i3,^00
I).:c.
v..
i2r,.irr..3*i
3.T;i),»00
8,ll2,mi
5-1,0
U.c. 16.
127.483,8^0
128.6S»,70
130.093,30J
•.',ii)li,500
7.483,.')00
53,932.300
25,450.900
86,311,400
25,100,000
85,937.200
44,486.881
Dec.
:>i,9.
44,833.641
45,810,7T2
86,2.57,601
16.164,103
4a,85J,385
S,6-)9,H0O
7,-J
16,800
5-1,443,300
85,4M,r0O
45,0-54,725
3,831,300
8.416,400
56,217,600
2o,-)5a, 100
38,488,361
13',? .'0,030
131,651.600
3,=51,000
3,-.35.9jO
l:36,790,6»
13<),9T!),500
3,8!2,500
3,927.603
2.}0,200
,127 900
59.525,100
61,li0.400
6(1,W8,600
6 1.717,200
25.616, 100
HV4i,«00
li'',8)0
,93 -',800
11si,700
25,500,100
35,4J6,600
82,169,738
49.17i.697
16,764,891
43,763.114
4l,6i0,658
I3i),»91,100
.'1.8l6,-i00
120,i0l
25,i6fi,8 X)
47,534.4(15
144,980,000
141,799,300
3,708.300
4 6,5<X)
,27.^,300
69.770,300
S5,545,800
47,1
Fe-i. 24.
63.215,90
««r.
14l,(li«,2iX)
i34.3'IO
!0,3\!«,700
4«,3ifl,«!(l
l«,6a3.10)
3,625,7 :0
8,6S4,500
'J5,481,10O
a5,399,''00
,6 Hi
fi7.0-i8.3O0
2V613,100
48,733,*^ 81
141,306,303
3,I>49,9J0
50,300
65,677,100
85,563,00J
4),7;9,466
I'ec. 21.
D
c. 30.
1819.
Jau
6.
Jan. 13.
Jan. JO.
Jan. S7.
Feb. 3.
Feb. 10.
Feb. 17.
Mar
3.
10.
Mar. 17
>
3,«<)8.6i
3,M5,100
,C'i
64,79'i,300
61,190,11)0
35,6:34, JOO
3j,61 ,600
30,361
45.334, f.30
.
MABCn
'33,
1
.
.
t
—
..
.
.
.
...
THE (JHRONK^LE.
1870.]
295
aOSTOIf, PHIL.1DBLPHIA, Btc-OonUnBaA.
—
Nnw York ritjr BanKs. The following HtntPiuenlBliows the
oonilUlon of the Aniiociai-'d Hiinknof New York City for the week
•odin^ at the commencemeut of buBlaeas on March 1(5, 1879
Annual AMOUNT or
'Not
CIrcal*L<'(f«l
Loam and
tlon.
C«pltJ. Dlacounte. Specie. Tendcri. Dopoaita.
Banki.
Bid.
saoirarrtu.
Ask
Bid.
:
Aak
.
Northern of New Hampablrs
Norwich ft Worcester
11»H
IB
ft L. Cbamplain ...
,
..
..
fi'ntmlUnCo.
MechVnk?
....
SerehS.
.
8,8«1><»0
«,0t».OnO
tIMOUO
SmOOO
JOOOOOO
8.080 000
8048.1100
4 0J3000
ioao.000
.
tmOOO
"nfon
America ....
7818
8^000,000
l^OOOOOO
PhmnU.
lOOOOOJ
........
City.
1 CflO.OOO
Tn»di.'mea'«
8X)00.1
FiiUon
.....
Chomical
MorchantB- Kxch.
300.000
1.000,000
Gallatin National t,00O.OJ0
Butchers' A Drov.
Mcch.inlc3'JfcTr.
Greenwich
Leather .Manf'rf.
Serenth Ward..
Chatbam
.
...
.
North America..
Hanover
198.400
1,V)1,700
192,800
8.467,800
838.700
l,69^SO0
9.4'10
;a.581,(XXi
15.8? i.iO"
1, 498.000
5.353,200
3.556.100
2,4(*,400
3,697,500
4.90f.80O
1.804,600
1,720,100
5,947,700
*13,.300
1.500.000
450.000
413,600
700.000
Irving
Metropolitan ...
8,000.0011
CItizcni!'
600,000
1,000.000
500,000
500,0.0
St. Nicholan
Shoe and teacher
««lf,8U0
l..^31..^00
I,'.90.(100
1,^00,000
500,000
Naspau
Market
8.998,800
300.003
300.000
800,000
People's
1,
ll.S33.000
i, 549,500
4,132,300
2.104,900
I,:49,700
S.0O.fOJ
4.379.0(X)
1,000,000
1,000.000
300.000
Marino
400,000
Importera'&Trad 1,500,000
Park
2,000,000
Mech. Bkg. Aas'n 600.000
Grocnra'
300,000
3.311,400
3.764.400
1.316.000
...
2.2l6.80f'
•.^.i»48.30C
lt.441.')0(l
20C
498,800
747,500
740,400
403.400
5.;2
North River
840,000
Bast Uiver ....
250,000
Maniif'rn'.t Mer.
100.000
Fourtn National. 3.2«>,000
Central National. 4,0iA00O
Second national . 300.t00
Ninth
N.itioniil..
13.395.000
;.484.0l«i
4.193.0C0
3,283,300
8.109,100
6.101,800
;.383,400
7511.000
First National...
500,000
Third National.. 1,000,000
800,000
N. Y. Nat. Kxch.
Bowery National. 850,000
'..142,400
New York County
8(O,0Oi)
1.086,500
German Amerlc'n
750,000
300,000
1.8".5.»00
Chue
National..
Total
*
....
1-35,9110
349,900
51.400
104,500
107.400
57.500
.W,000
28.),00)
'J70.4:X1
398,400
ili.r-m
114.400
33J.00O l.»51 OOD
121,300
483.8X1
191.60n
13.800'
39r,50u
88,100
100
865,100
328,000
312,009
42.200
197.00J
SOJ.iOfl
18,2)0
37,400
820,001
4;5,ii0
8,100
l,02'i,8n0 3.304.400
4:19.800 3,558,200
34,6i>0
134,500
ll.iWO
»7,50J
4S,400
114,500
91,500
79.300
8.400
85,700
l,074,30i} 2,317.000
458.000 1,016,000
406.000
157.000
605.400
184,600
855,100 1.807,000
3,0'i6.9IXI
Corn E.xchange..
Continonial..
Oriental
500
M9.10O
8J,300
841.700
4,87M0U
4»,S00
888.800
4,848.000
1»,<IOO
8,064,800
848.000
4,»SO,!100
1,100
P81.800
814,000
8.184,000
818,000
6,770,800
....
1,811,000
775,800
1,809,000
19?.70O
I.<31,500
170.800
2,490,700 10.-50.WX)
a,544,6a0
419,000
357,700
5i6,9C0
4«,«ft;
1.832.100
9S6,400
M8.100
70,800
t98,00i.i
404.000
918,000
ISO.MO
741.100
8.700
8:0.800
1,317,501/
303.100
180.900
884,500
8J,»00
45.000
850,600
1,435,800
181.000
718,000
8.914,000
1.690,800
8,788,400 1.696.000
6'i».30'i
8.74i.400
88J.800
491.0J0
3,87.5.200
179.000
-3.065,6)0
361,400
44«,100
539.700
1,802,000
614.900
2.740.800
i!l(6,500
US.JO)
l.ODO.tOO
5,400
207,100
81.100
ll«,800
SB.OHO
18.500
818.900
81,800
4S«,7(!0
... ..
887,800
880.300
80S.800
8*4.700
J6S.000
978.700
10,e39.900
3,251.300
3,435 800
State or N. Yurie.
Pacinc
Eopubllc
MO
l.iW.SOO
300.ixlt)
l.8M,000
MI.800
8^441 000
8.8S8400
300.i!00
800.000
American Bxcb.. 5,000.000
5.000,000
Commerce
Broadway
1,000,000
McrcjHitlle
1,000,000
63l.!i00
3.100,500
8,494,800
8,bH»,40C
3,229,0tiO
l,59i),900
216,900
.3.900
967,60)
2,560,300
1.817,500
3,118,100
'..a03.70C
4.037,1X10
17.046..300
14.055,400
197,300
469,300
703.400
578,500
427,900
18,(50.41)0
5,9at.noO
8.210,000
3,158,900
9,94.),(.00
l.Olfi.oOO
H,289,60;i
47,400
34,000
I0,7C0
HO,f,00
oS,800
210,59J
421,000
347,400
316,100
446,703
365.800
832,800
!,
1.168.600
1,864,400
.64!,-400
stats ANO CITV DONDS.
Ss, gM. int rog. or cp.
do 5s, cur., reg
;j.
do 5s, now, reg., 1894-1902 118W
Penna.
Is, 10-15, reg., 1*77-'«1.
«8. 15.23, reg., 188»-'S4.
6i, In. Plane, reg.,1379
.
Philadelphia, 58 reg
ts. old, reg
do
do 68, n., rg., prior to *99
The
Dec.
$1.34'),70O
I
Specie
Legal tenders
Inc..
Dec.
367.200
1,430,400
I
The following
1873.
8.
9.
16.
4.3.
130.
Dec. 7.
Dec. 14.
Dec. SI.
Dec. 28.
week
Specie.
L. Tenders.
A
X
450,000
117,000
4,100
780,300
40,419,000
39.155,400
.39,9.33,200
40,588,300
41.47.5,700
.39,9111.000
40,47^,500
Sii.BOO.OOO
40,767, 00
4.
231,250,000
II.
2^0,6,32,000
43:t,li*.400
18.
25.
Feb.
1.
Fell.
8.
Feb.
Feb.
Mar.
Mar.
Mar.
15.
21.
1.
8.
15.
234,416,800
238,^41,400
214,280,800
214,186,500
314.ar7.000
216,716.900
847.674,200
246,841,500
20.01/7,000
368,4 8.659
80.153,300
20,141,600
4:16,695,221
21,(177.000
3«,7tl,610
44,214,8:2
19,376,700
34j,696,134
51,018300
51,1S^400
319,81!*,800
17,84»..300
18,059,500
17.9)1.300
16,458,500
16,945,300
17,314,100
48,334,800
45.377.000
48,651,800
40,693,800
39,173,400
19,84^800
819,387,300
817,471,200
818,382,600
213,489.700
313,203.100
19,785,000
19,767,600
19.017,600
19,486,600
19.447.100
19,398,300
19,335,900
19,232,400
19,i38,000
310.5ij3,.300
19,3i5,21X)
311, .590,600
214.«81,iO0
Bid.
Maine 6*
Portlands
Atcb. ATcpokal8tm.7s
110
Mar.
do
I..
Sup.
ft
49
S
3
IfX
s
37
ft
Cln.
Is, '92,
P.
ft
A
...
lOIW 103
107« 108
100
105
IUO
103
108
110
108
101
104
118
iVa
90
01
'.04
110
113
lOU
(S
Baltimore (las certlUcates.
MX
.
U8
llKj 14
CINCINNATI.
97
ClnclimstUs
do
78
do
l-aos
South. KR. 7-30S.
do
do 69, gold
do
Hamilton Co., O., «s. lon^..
78. 1 to5 rrs..00
do
7ft 7-308, long.
Cln.* Cov. Bridge Bt'k, pref.
Cln. Ham. ft D. 19t m. la, 'jO t
2d m. 79, 'a t
do
iUO
1112
Cln. Hani, ft InJ, 78, guar...
Cln. ft Indiana .at m. ,8......
'
\0-,H\
107
80
.
do
2d m. 7a,
Colnm. ft Xenla. lat m. 7a. '9i)
Dayton ft Mlcli. 1st m. la. 'i.*
2dm.78.'rt4.+
do
do
3d m. 7a, '8Xt
Dayton ft West. Istm., 'di..
lat m., 19US
do
Istm.rs, I9K<
do
Ind. Cln. ft Laf. Ist m.7s
do (I.fti:.) I8tm.78,'38t
Little Miami 63. -88
t
Ham. A Di,yton atock..
Columbus & Xcnla atock
g.
Cln.
UIM
100
103
118
111)4 111)4
100)J
too
100
101
101
100
101
98
40
"^
iiiii
108
ioiM
100
60
10s
lot
iow< 102
100
as
100
87
tso
iiw
100
IS
io«
Dayton ft MU-higan stock...
20
do 2lm.,7«, reg., 1910. lie*
97
do
a. |>.C. sl'k, guai
do con. m., 8l,rg.,19a
103
Little Miami stock
do
6s,'p.,19
3
do
Little Schuylkill, 1st m. 7s>2
LOCISVILLB.
North. Penn. Ist m. 6s, cp.,'85.
LoalsTllle78
t 103
3dm. 78,cp.. 'M.
140
do
t
do
68,'Sito'87
113
do gen. m. 7s. cp., 1903.
do
•s,'«to'92
t ss.
113
do gen. m. 78, reg., \9fi
water (s,'87 to "S* t
do
Bl
88)1
Oil Creek 1st m. 7s, coup.,'3;
water slock 68,'97.t
do
2b
86
rltlsD. Tllusv. ft B., 7s, cp.,'9i
wharfes
t
do
scrip
do
spec'ltax69
0f '39.t H«)«
do
Pa.ftN.Y.C.* BR.78,18*i ... US
LonUvUle Water 6s, Co. Wi; t 104
Ponnaylv., lat m., 6s, cp., '80. lot
01-J4
.M.ftUat m. ( 1*M) 7i,,'8: t
gen. m. 6s, cp.. 1910 liOH lUHl Jeff.
do
do
2dm., 7s
gen. m. 6s, ig.. 1910. 114
do
lat lu.. 78, 1906. ..1 110
do
cona. m.6>. rg., 1905 103
do
Lox. 1st m.Ts.'sl' I08)t
Loalsv.
Cft
104
cp..
1905.
cons.m.Ss.
do
Louls.ft Fr'k.,Loulsv.ln,6s,'8
Navv Vard 6s. rg.'^
do
NashrlUe—
Lonlsv. ft
77
Perklomcn Ist m.»a,coup.,'9' 7«
Leb. Br. 6«, 'sS
t 100
Phils, ft Erie 1st m. is, cp.,'8i too
Ist m. Leb. ilr. Ex.,7s.'80.:S.t !00
2d m. 78. cp..'38. 100>» 107
do
do
6s, 'a. .t 100
Lou. In.
101
Phlla.ft Read. I8tm.6s,'l3-'41.
Jefforaoa Mad. ft Ind stock.
'48-.49.
da
do
2d in., 78, t p., f
do
8T. LOUIS.
doben., cp., "ft
do
tilOS
St.Loula 66.1o.g
,,- do
cps. 0^
do
wateris.gold
do
f I0«M
scrip, 13-12.
do
4«X^
do new.t 1U0)«
do
do
In. in.lB, cp,1396
do
bridge aopr.,g. 6s t lUS
do
do cons. m. is, cp.,191!.. 103 104
ren<?wal, gold, 6s. t lUI
do
do cona. m. 7s. rg..l911.. 103K 10*«
sewer, g. U. '(i-lM.t IM
oo
do con8.m.66,g.l.l911..
^wpark.1
park.g.*8.f 108
St. Louis Co. new
do conv. 7a. IMS'
108
cu
do
78, coop. off. '98
do
Phlla.ft Bead. Cft Ldeb. 7a,i4
mi
lOMa
100)2
9^ iao>t
34
<lo
68
ft 8. Western, 38 ....
Pueblo ft Ark. Valley, 78, on
110« Omaha
80
I
STOCKS.
Atchlfon ft Topeka
I104X lom
do
land grant 78
'138
Boatonft Albany
do
2dH
114
Boston ft Lowel'
do
land Inc. 3«..
Bostonft Maine
...... lillX
llM
Boatoas Albany 78
iV»< Boston ft Providence
118
do
«*
Burlington & Mo. In Neb.... llSi 119
Boston * LowelI78
Chenhlrp preferred
35!
Bosiondk Lowell 6s ..
103«
Chic. Clinton Dab. ft Jlln...
43
Boston * .Maine 7s
117
117(i! Cln. Sandusky ft Uler
Boston ft Providence 7.*
Concord
Borl. <b Mo., land (rant Is. .. 113»» I'uSi Connecticut Rlrer
140
do
Neb.Ss
•.097* 1U«
Conn, ft Passumpslc
i"40
44
do
Net). 88, 13&J
Bastern (Mass.)
10
Conn, ft Passumpslc. 7i>, 1897.
Eastera (New Hampshire).., 7««
Kastern. .Mass., 8H8. new. ...
Fltchbarg
US ii»
FItcbburg KK., ta
Kan. City Top. ft Western... 103 106
do
78
Manchester ft Lawrence....
Ean. City Top. * W., 78, 1st
NashuaftLowell
Mi
do
go
78, Inc..
Sew York ft New Hngland... aa 33K
.
People's Qas
104
.
Miss., Ist m., 7>,
14)1
96
ISO
2d, M.ft N
do
3JK S7
8s,3d, J.ftJ
do
14H
Union KR. 1st, gnar., J. ft J. 106
do
Canion endorsed. ice
MtSCXLLANBOUS.
79, '88
Itt m.. Is, '60
mort. {', '82.
9d mort. 8a, 19'JO
.
do 1st m., '.S90, J.ftJ...
do 2dm.,guar., J. ft J
do 2d m.,pref
do 2dm.j(r.by W.Co.JftJ
do 6s. Mm., guar., J.ftJ.
6j,coup.'S3
l«t
. .
W.
Vs. 3d m..guar..'IJS.JftJ
Plttsh.ft Connensv.7s,'9d,JkJ
Northern Central <s, '83, JftJ
do
6s, 1900, A..ftO.
do 68, gld, 1900. J.ftJ.
Cen. Ohio 6s, 1st m.,'90,M.ft 8
W. Md. 6s. Ist m.,gr.,'90,J.ftJ.
14» 17
U%i ISJs
Lehigh Valley, lst.6a, cp.. 181
do reg., lS9j..
do
Bid. Ask.
S9,l8t mort
Vermont a Canada, new 8s.
Vermont A Mass. kU.,6s....
Ohio «s. 1380, J.ftJ
do
6s, ia8>.A.ft(\
SI
143
W'msport,
Ss.perp
do
Hanlsburg lat mort. 6s. '81.
H. ft B. T. lat m. 78. g Jld. •90.
m. Is, gold, '95.
2d
do
Sdm.cona. 78, VS*.
do
Ithacaft Athena Ist g d, I9.,'9C
Junction
ConnellSTllle..90
Bait, ft
50
43
mort.
Bl.ft
493.410.5:5
452,;40.l33
434,108 901
516,497.715
501,321,870
100,417,439
Kutland
Ist
ft
SO
90
50
BAILBOAD BONDS.
7W
liH
138X
Chartlera Val., lat ra.7s,<'.,t90;
Delaware mort., 69, various
Del. * Bound Br.,18t, 78. 1903
ordColony,7s
11054
Pittsburg
4)4
.
611,>>74,OS3
SSTi
50
ii'i
Par.
Ohio
IOC
95
do
Wash. Branch. IUO 133
do
Parkersb'g Br..50
.
East Penn.
118
118
115
lis
116
.
BAILBOAD STOCKS.
&
144,411225
Erie 78, new
itodensburg ft Lake Oh. 3s.
Buff
116
•a, 1890, quarterly...
Balt.ft
48),
109«
«s, park,
pa
1890, U.—M. lil
(8,
««, 18! ,M.ftE
113
do 68,exempt,'M,M.ft9 110
do
1900, J.ftJ.
113
do
ItOl.J.ft J.
114
Norfolk water, 8s.,
115
N.
Catawlssu lat, ,9, conv., '02.
chat, m., 10a, T"
do
new 78 19UI.
do
Connectlne «9. 190O-I9O4
481,222.549
507,331,749
ft
4H
35
43
69. coup., T" 1(» !.
mort. 68, '89.
Ill t]
Cam. ft .\tl. 1st in.7s,g,. 1913 114>«i.
21 in., "8, cur.. 1379
do
Cam. Burlington Co. 68,"9I
4ll,5!)8.190
SaOITBITIES.
flartford
MowHampihlreA
ennontes
Ma*aachn>etU6e, gold
Uoston ». currency
do 58, gold
Chicago sewernge 78
do
Munli.Ipal78
Aak
8
an
Ualtlinore.
do
do
POTATIO.^S IN BOSTON, PUILADBLPIIIA AND OTHER CITIES.
aiorRiTixs.
"2
12«
lat m.,&i,l<Kr.i.
2d m. 6a. '8.1.
31 m. 68, 'j7.
Camden ftAmboy
404,0:17.744
27
41
27X
35
37
31« 34%
do pref
..
Pennsylvania
Schuylkill Navigation
pref..
do
.
Susquehanna
RAILROAD BONDS.
Allegheny Val.,7S-l0a, 13»s..
78,E. eit.,1910
Jo
Inc. 78, end..*91
do
do
do
lOflx
6s,:88«, J.ftJ
Northern Central
3>4 Western Marylanl
27H Central Ohio
Morns
Belvtdere Oela.
68. d>:feuae, J. ft J.
112
109
109
109
lOlH 102
Chesipeakeft Delaware
Delaware Division
Lehigh Navigation
past:
:9.3.*
108
do
do
do
do
tt«
Trenton
ft
ei
6s, exempt, 1887 ... 112
do
6r, 1890, qnsrterly.. 18
do
5s, quarterly
100
Baltimore ts. 1S3I, qnarterly 108)4
CANAL STOCKS.
:
19,9f>l,900
306,;;3,000
809,43),a)0
BOSTON.
ft
75
'to
6s, boatft<iar,rg.,l9:8
78, boatftcar.rg.,!9.5
Marrland
WestJersey
470.000
19,909,400
41,«8i,600
45,055,100
49,965,800
53,599,600
20,956,200
18,964,400
17.344,800
17,481,700
18,683.800
4 Head ng
Phllaielphln
IM
BALTiillOBB.
s«
Plttshurg Tltusv.
United N..I. Compnnles
West Cheater consol. pref
1879.
Jan.
Jan.
Jan.
Jan.
Pulladelptila
lOOX
108
lOflN
ra. cor.v. g., rf g..'91
SnsqaehannaSs.coap..
41 )<
ft
224,4i0
180,000
S
do
do
Little Schuylltlll
PhlU.Wllmlng.
489,2(K1
483,571,553
408,903,425
460,572.73?
do
3iH
Phllalelphlaft Erie
i69,0<i0
t
ft Dela 1st (a, rg., '86
Delaware Division (s, cp., 78.
Lehigh Navlga. m., (s, reg.,'84
do mort- liR.. rg..'9°.
do mort. gold. *V7
do cons. in.7s. rg.jl9l:
Morris, boat loan. reg.. 183.1.
Pennsylvania 6s. coup., 1910.
Bchuylk. Nsv.lst jn.6s.rg .*97.
do
2d m. 6s. reg., ixn
Lehigh Valley
Pennsylvania
357,000
45.000
798.600
19,901,.300
!9.W).5.400
Lancaster.
UlnchlU
Ne»quehonlng Valley
Norrlstown
Northern Pacific
pref
do
North Ponnnylvanla
1,040,400
1.173,000
S
210,737,600
209,754,100
417.131,800
206.797,500
40:,053,600
206.134.400
203.625,800
203,409,700
ft
lOSW
CANAL BOMD*.
do
Broad Top...
do pref.
ft
Kit. «s,cp-'-8»9 101
(8 P. B.,'96. 100
Cbesap.
Atlantic
ft
Huntingdon
do
126,000
2!5,4'.3,<I00
Western Penn.
do
City 6 J,
Har. P. Mt. Joy
354.000
1.074.100
635.700
304,70J
Deposits. Circulation. &.^g. Clear
ft
241,511,800 24.141,100
44O,2v4,300 26,373,200
237,615,500 25,405,400
231.917,(00 23,414,400
436,43^,400 2-.',9f)7,400
239,315,500 20,I61',:0n
23?,0,7,200 20,831,900
435,974,100 40,911.500
4;5,844,40 20,514,100
weeks
1084(
.
99,2.0
Inc..
108
ms
pref
do
do
Catawlssa
pref
do
new prof
do
Delaware ft Bound Brook....
Bast Pennsylvania
Klmlra ft wllliamaport
pref..
do
do
88
w
lISHi
coupon
7s, reg. ft coup
do
Delaware 6s, coupon
Unrrlsburg City 68, coupon
RAILROAD STOCKS.
Dec. $2,729,800
Circulaiion
Cnlted N.J. cons, m.as.tl..
"ii
Warren ft P. Istm.7s, 'M
West Chester oons. Is, '91. ...
West Jersey 6s, deb., oonp.,'8>
do
Ist m. <a, ep., "M. 108
low
lstm.7s,'at
do
78,w*t*rln.rg.ftCD.
Camden
s«
1?
<lo 78. itr.lmp.. re».,'i8-9«*
«s, reg. and coop. .
exempt, rg. ft coup.
do
County Ss, coup
3.36,200
are aa follows
deposits,
are the totala for a series of
Loans.
Nov.
Not.
Nov.
Nov.
Nov.
Net
84
N. Jersey
100 39.ir3.4o0S10,t63,300 19,835,200
deviatioDg from returns of previous
M
58, reg. ft cp., 1919.
«B, gold, reg
Camden
Camden
77
Sunbarr ft Erie lat m. 7s, 17.
Texas ft fac. lit in ,as,g..l9CS
_
do
cons m..6«Jt.,1905 7VM
IS
do
Inc.ftl.gr.,^8 1915
48
Union ft Tltuav. '.at ra. 7s, "90.
118
do es,n.,rg., BMft over 115K 118
Allegheny County Si, coup..
Allegheny City Is, roir
do
do
do
'84. ..
I,.
Steobenv. ft
Stony Creek !•' m. Is 1907...
Sunb. Ilsz. ft w.lal m.ii.'ii
.
Plttiburg 4s, coup.,
Bait. 8a,
78,eon.,19a- lOOK
Pott«T.78, 1901
Ind. lat, 6*, iwt ii»M iJM
,
do
do
do
Wllm. ft
PItU.cln.ftSt.
Bhamokm V.ft
lOOi
PHILADELPHIA.
Other than United States.
Loans
Phlla.
80!
100!
I
360,000
163.600
1,843,400
1.7C4.800
pret.
Old Colony
Portland Ssoo ft Portsmonth us
80
Palsce Ctr
Piillii;a
tM
Puohlo ft Arkansas
10
Kutlacd, preferred
Vermonlft MassachaaetU-. 116
30
Worcesterft Nashua
t,5ea,00ii
7-32,000
e0.875.2»346.32t.50C 17,31
41,000
5,720,300
1.940,400
8.913.000
PMl.ftn.C.ftl deb. 7s.
do mort., 78, l9n-3
Ogdeuib.
do
New York
eps.oS
iibu
.
I
.
,
I
m
•
defanit.
"In
t
t
Per sh*re.
And
Intersst.
108
"vi
lUX
109
I00)i
1W)«
104
—
......
..
.
...
..
.
,
.
THE
296
(.^HRONICLE.
IVOL. XXVII]
NEW YORK.
QUOTATIONS OF STOCKS AND BONDS IN
and
U. 8. Bonds
aaiive Baiiroid Stoekiare, quotei
.
..
Prines represent the per cent
on a previous pays.
wmtever
T>nhie,
par may
the
le.
STATE BONDS.
BxausiTixs.
Alaoama
Ss, 1883
5b, 1886
do
do
do
do
do
do
\o
do
00
do
Bid.
Ask.
iV
4H
SO
coupon,
Ss.ltm
4S«
War loan
do
<9ntuck7 6s.
8a,188S
4»>i ....
Louisiana 68
M.&E.KR..
& St. Jo., 1836.
Missouri— Jan.
1879
do
100
lOa
87
6s, new
do
6s,new float'tsdebt,
do
Bs.Ala. ACh.U.
....
'26
ds
78, Penitentiary
88 of 1892
20
68, levee
Bs of 1393
do
Bs, do
Class A
4»« SO
do
8s, do 1875
do
Cla«s li
S8,of 1910
•.
do
Class C
20
7s, consolidated
do
Arkanus 6s, funded
Ise
7b, small
&
Ft.S.
2
do
K.
do Ih. L.
2
bHi Mtcblgan 6s, 1873-79
do ~3 Memphis & L.B.
2
68,1833
do
do 1B,L. S.P. B.&N.O
2
7s, 1830
do
do 7s, MISS. O. & K. R
2
Missouri 6s, due 18S2 or 'S3. ..
do 76, Art. Cent. KK..
1386
loa
do
do
Connecticut 6s
101
ls-17
iniHi
do
dj
aeorgla 68
110
1833. ...
IIO'H
do
do
7b, new bonds
do
lOMW
1389
or
'SJ....
do
7s, endorsed. ...
do
do
110
Asylum or nn.,due 189^
78, gold bonds...
do
Fnndlne. due 13M-5
ta,
BsmTBITISS.
SBOtTSITIKS.
SBODBlTIKS
(llinols6s,
New York Slate-
S7
37
37
do
do
do
do
do
S8
68,
«S,,
:i7
87
3?
20
48}f:
49
108H
1»3X
10.)«
101^2 104>^
105
108
1887
110
110
do .1891
do
1892
do ..1833
120
.
.
.
— $a, old. J. &-7.
N.C.KK
'93-4
68, cp.
6b..
Funding
act, 1866
LandCUW, J.&
J
liand c, 1839, A. & O....
780f 1833
Son-fundable bonds ...
Tennessee 63, old
do
68, new
do
68, new series.
121
12!
21!^
89
Virginia
8'J
bonds,
do
consol. bonds
IW
1
34
20
37
30
33
75
35M
43
2d series
6s, consol.,
10
10
10
10
10
10
1366
1367
ex matured coup
58,
lOM,
old
?8,
new
68,
6s,
6b,
7«
110
2.1
& Oct
April
21H
do
.. ..A.&O
do coup, off, -J. & J
do do off, A. dk U
funding act, 1866
do
1863
^ev bonds, J. & J
do
A. 4
Special tax. Class
Class
do
Raode Island
100
100
J.&.T
I03K
3 juth Carolina
Jan. & July
10«
Korth Carolina
do
A.& O
do
109%ill0^ Ohlo«8,1831
107
do
.1837
coup.. 1837..
loan. ..1883
gola, reg.
is,
6s,
Ss,
Ask.
Bid.
Olllo6i. 1836
in4Mi
I04)s
deferred bonds
D. of Columbia 3-658, IfrM.
do
small
I.
6b,
1
-^
ClassS
l}4
do
104
reirlBterefl
81
,
'80>»K
RAILROAD AND MISCELLANEOUS STOCKS AND BONDS.
Railroad StocKa.
Che3.& Ohio,
itt pref...
'.i'lpref ....
do
CtaieagoA Alton, pref ...
Dubuque & Bloux City.
Harlem
JoUet& Chicago
107
145
Island.
Louisville & .^ttshTille....
ha'.
&
—
Louis
St.
.
^ew Jersey -outhern
Hew York Elevated Kl{..
H. Y. New Uaven & Hart. 159M
Ofalo& Mississippi, pref
spec.
Pitts. Ft. W. & Ch
Kenvselaer & Saratoga
St. Louis Alton & T. U
pref.
do
do
Ttr'e Haute & Ind*poll8
Onlted K. J. K. & Canal.. X134
miscel'ons Stocks.
.
.
.
. .
.
Adams Express
105
4-«
47H
»«H
Via
American Express
Uuited ^tates Express
Wells; Far-o & Co
Qu
ckbllver
pref
do
Atlantic
&
Pa.;.
Tel
XSB
Am. District Telegraph. ..
eo'.d & Stock Te'egraph.. 74
'Janton Co., Baltimore
American Coal
Coneolldst'n Coal of Md.
Cumberland Coal & Iron.
Maryland Coal
Pennsylvania Coal
Spring Mountain Coal
Railroad Uonds.
Exchange Pric&i.)
Boston U. & Krle, Ist m..
do
guar. ...
Bu-. C. K & North., 1st 58.
Mlnn.& St.L.,l8t7SKua
ehesft. & 0, pur. m'y fd
31
do «SB,Ser.^,ln .def.
do 68 cur In:, def...
Chicago & Alton Ist mort.
do
Income.
d>
Blnk'g fund
llD
iStoc*'
72H
as
.
Am. Dock
^^'l?..
&,
Imp. bonds
**o
'Bsented.
«a»JiU4t8t.P.lBtm.Ss,P.D
M m. 7
do
do
do
do
do
do
do
do
do
S-10,
do
I8t78, Ig.lt.I)
104H
dolstm.,7», I.AD.Ex
West. sink. fd.
do
Int. bonds.
do
consol. bdB
«o
do
00
.
ext'n bds..
""..
'<i8.
.
Iowa Midland,
Sklena
&
02
835i
102
(4
97
70
»8X
77^
41-«<
4i)>s
63
5S
«a
W25j
lOSJi i'r»«
:«t
WliiuDa
& St. P., 1st m.
2d mort.
_ „ . <lo
„
C.CX;.Aliid'a lit m.7s,SF
/'"^ consol. m. bds
n
,
l>el.L«ok,& West., 2d m.
do
7s,conv.
do mort.. 7s. 1907
Byr. Blngh.AN.y. ;.t.;B
A Kssex, tst. m
do
do
2d mort.
do
bonds, 1900.
construct'n
do
do
of 1871
l8t con. guar
101
m
io-« 110
108
1I6« 118«
io»H
lOi)
104^ 105W
110
1!5
105
114
V7
do San Joaquin branch
do Cal. ft Oregon 1st
do St'ite Aid bonds
do Land Grant bonds..
Western Pacific bonds
Southern Pac. of Cal.. iBtm.
Union Pacific, Ist mort. b'dE
do
Land grants, 7b.
do
Sinking fund..
do
rc^Isiered &8.
Pacific R. of Mo., Ist mprt..
do
do
do
108
102
118
103
106
106
120
107
12i}4
lOTM
Pennsylvania
ma
ma
87
gj^
97
10(1J<
W.
do
Chic, Istm.
do
2dm..
ft
.
„
,
do
Chic ft
„
i°
do Tr.
Col.
Rome
108)1!
108
90Ji
.
4th mort....
Ind. C, Ist mort
tlo
2d mort
do
!07« 108
ct'.,l icons.
Watert'n ft og.. con. isi
Mouutala, let
m
2d m. Inc. 78.
Sh.St.P.&Mlnneiip,, 6s,g.,new
do
«7iK
}98
f rice nominal.
104«
101
100
35
gr., Cs,
g
OS
94
do
„
Evansvllle
7e,
ft
Evansvllle Hen. ft N«shv.7s...
Evansvllle, T. H. ft Chic. 7s. g.
n'lSjs
Fllnt&Pere M. 8e,Land grant.
Galv. Hoii8,& Hend.. 7s,gld,'71
U5J< Grand li.ft lud. '.81 7b, l.g., gu.
do
ist .B, 1. g., notgu.
do
Ist ex 1. g. ,8.
Grand River Valley ?», ist m..
jso
101>«
Hone, ft Gt. N. Ist .8, g., certs.
BOUB. ft Texas C. Ist 78, gold.
do
West, dlv
ii'2>i
}85
86
36
104
72Jsi
37"
WVfi
100
123
121
{118
115
Waco
do
do
81
ft
G. R.
88, gr...
Kalamazoo & South H. Bs, gr.
Long Island RR., lot mort.
.
MlciilKan Air Line 8s, 1890..,.
Montclalr&G. L.Ist Ts, (new).
N.J. Midland 1st 7s, gold
N. Y.ft Osw. Mid. Ist
?^«
do recelv'B ctfs. (labor)
31
31J4
nikii
do
Oswego
accrued interest.
do
(other)
Rome
ft
7s, guar
.
Peoria Pekln ft J. Ist mort ..
St. L. ft 1. Ml. (Ark. Br.) 7s, g.
St. L. ft San F., 2d m., class A,
do
do
X^o
price to-dajr
Union & Loganeport 78,,,
Uu, Pacific, So. Br,, 68. R.,
eo
108
80
88
08
90
60
85
80
85
10.1
(.Brokers* Quotatious.)
Carolina con. Ss (good).
Rejected (best sort) .,
Texas's, 1892
M.ftS. tlOS
78, gold, 1892-1910.. J. &J. tI12
J.&J, tns
78, gold. 1901
IDs, pension, 1894.. J.ftJ, tioo
Waterworks
81« 81« Augusta,
Ga., 7s, bonds,,
Charleston stock 63
Charleston, S. C, 7*, F. L
t:i5
94
110
Columbus, Ga.,
Lynchburg 68
bonds
78,
Macon bonds, 78
Memphis bond* C
Bonds A and B
Endorsed. M. ft C. RK,
110
52
Comproml-iC
Moblle68 (coups, on)
Bs (coupons on)
68, funded
106
Montgomery, new
,108
lU Ins
tl04
106
tI09
no
tin 112
tlOJ
no
New
38
*lll>j 113
40
1(5
80
50
107
noiii :o9
""
02
tioe
(110
110
115
8
8
20
.''8
old
6s,
72
80
22
new
68,
New
Ctrleans prem.
Consolidated 68..
5a
**7
R.tllroud, 6s
28
100
6s
Petersburg 68
8b
Richmond
6s
Savcnuah7s, old
new
78,
Wllm'ton,N.C.,6s,g.
8B,gold
coup
J
111
t:o2
110
(
114
116
105
lis
100
"mn
110
100
48
8J
90
,40
92
61
05
MX
01
Atlantic & Gulf,
Consol., end. by Savan'li
Carolina Cent. Ist m. 6s,g,
Cent. Georgia consol.m.fs
Stock
mm
93
47
70
99
78
48
•85
90
85
103
95
75
91H
75
IMX
98
98
105
100
00
08
85
95
80
104
94
98
100
100
101
n02
29
35
33
40
2d
96
§f« 35
92
70
40
38
95
72
81
90
25
SO
32
105
100
Meuiph.
« Cha'ston
1st 7»
Kock
lit 4s
ft Lit.
MlSBlaslppI Cent. Ist m. '16
2d mort., ex coupons...,
Ml««. ft Tenn. Ist m. 88, A
Ist mort., 8b, B
Mobile ft Ohio sterling Bs
Sterling ex cert. 68
8s, interest
2d mort. 88
^ew 1st mort
New debentures
ft
00
101
30
30
40
35
U9J^ III
73
86
55
104
«U
90
98
'ss
7
N. o.
20
100
Col. 7s, 1st m,
ft
Mock
Jacks. iBt
95
96
79
5
40
102
118
89
70
70
55
15
79
26
m.
Bs.
Certificate, 2d mort, 88.
ft St. L. 7b
Ist. lis, Tcnii.ft Pac. lir
78
88
97
100
4U
106
lii8
85
90
43
100
99
80
e«
41
106
98«
1?S^
92
75
75
85
20
80
30
108)4
no
102
105
100
Nashville Chat,
l8t,6s,.\lcM,M.W.ftAl.Br
m Jis
18traort.78.
2d mort. 8s
Northeast,, S.C., Ist
2d mort. 88
m.
Orange ftAlex'drIa,
lata,6s
Bs.
.as, 68
SdB,8s
IthStSs
Rich. Fred,
Potomac
non
mon
ft
Cha'ston
Ala.,
85
90
78
45
6s.
5outhweBt.,Ga.,coov 78,'(S6
Southwestern, Ga., stock,
S. Carolina UK. 1st ni, 78
78, 1902,non-eniolncd,..
7s,
104
00
95
112
16
ft
mort.7t
Rlcli.ft Danv. iHtconsol.ee
West
so
85
50
40
74'
74
85
104
Macon ft AnB .21 endorsed
8« savannah
si« 40
65
30
SO
35
45
103
71
71
75
SO
Norfolk ft Petersb.lst
78
67
75
80
101
112
100
80
Mock
Memphis
107
65
'99
Stock
Georgia UR. 78
85
92
40
66
83
E. Tenn.ft Va. es.end.Tenn
B. Tenn. Va. ft Ga. Ist. 78.
Greenville
78. guar.
102
101
2d 7s
do
do
Gberaw ft Darlington 8s..
East Tenn, ft Georgia 68,.
95
52
105
101
104
RAILROADS.
Chari'te C0I.& A., cons. 78,
98
103
97
108
93
41
50
85
101
100
108
102
96
107
on,
tlOlM 102H Ala.ftChat„Kec'BCtfB ,var
tin 113^
consol..
tll2
105
97
102
52
70
45
09
50
20
20
20
35
,.
Nashville
tlll« n2ii Norfolk
5')
105
1:3
115
OITIES.
Atlanta,Ga.,78
Char .181 m.
ft
Sav.
fis,
Ut mort.
2d m.8s, gimr
85
105
100
m'A
35
5
—
45
112
112
end.
3s
io5)
7t
PAST DCB COUPONS
Tennessee State coupons..
South Carolina consol.
class B
41
Virginia coupons
class i\
41
C'l"'«01, ..o'i»i
these uie latest qugiatloai made tuu week.
do
do
55
106
77
100
Sonth'n SecurltleN,
88
n3s
m
'^ lllH
110«
81«
8
cottaol. bds,.
93
Indianapolis ft St. Louis I8t7e
eo
Indlanap. ft Vinccn. 18178, gr..
00
International tTeias) Ist 78. ..
75
Int. H. ft G.N. conv. Bs
211
Jack. L. ft S. S8,i8t
.."white" tl07
Kal. Allegan,
118
116
'it
STATES.
"en
JlOl
equip...
Crawf ordsv., 78.
94«
Newark
S.
li>tm..gd L. .&M.S..7S 100
Col. ft Hock V. 1st 7s, 39 years tl04
io8M
do
let 78, 10 years,
+99
do
7s, 20 years.,
t91
wi% Ul)i Dan. Orb. Bl. ft 2d
P. Ist m. 78, g.
42
105
Denver Pac, 1st m.78, ld.gr.,g.
80
105)^ Brie ft Pittsburgh 1st 78
7,
100
do
con. m. ,7s..
95
do
do
'iAm.' :9o
K.C.& N. U.K. ft I!.,78, '95
Morth Missouri, 1st mort ...
St. L. Alton ft T. U.,lst mort
111
do
2d mort.. pref.
Auu
1.
35
ft
S. Side; L. I., l8t m. bond
S. Minn. Ist mort. 7«, '38,
South. .Mini., 78. Ist
Tol. Can. S. ftDet, 1st 78, g
;136
101
do
St. L.
t
do
Chic, ft S'thwestern 7s, guar..
CIn. Lafayette ft Chic. 1st m.
Cln.ft i-p. l«tm.,C.f.C,& I
'm%
Co
St. L. ft Iron
7s, gold
6s, 2dm. g.
Central of Iowa Ist m. 7s, gold.
Chic, ft Can. South Ist m. g. 7s.
Chic, ft East. 111. Ist mort., 6s
do
.
*
"908
lOj^iJibsH California Pac. RR.,
KK—
do
Sdm.
„
„ do
Clove. 4 Pitts., consol.. s.f
ti)5
105
Income, 7s.
IstCaron'tB
.
Pitts. Ft.
ioa'h,
2d mort
South Pae. of Mo., Ist m
Kansas Pac, 1st m.. 68, 1895.
do
with coup, ctf 8.
do Istm., 6s, 1396
do
with coup, ctfs,
do 1st, 7s, Leaven. br.,'9i"
do
wlthcoun. ctfB
do l8t,7!,R.ftL.G.D'd.'»9
do
with coup. ctfs...
do 1st m.. 78, I'd gr., '80.
do
wlthcoup.ctfs
do 2d mort. .78. 1886,
do
with coupon ctf..
do Inc. cp. No. lion 1916
do Inc. cp. No 16 on 1916
do Den.Dlv.Trust Re ;..
(10
Detached coup, do
10454 101)^
7«,
D«i.*Hnd.CBn«l, Ist m-.-B^
-do iBtl
Jo
do
l8t extended
ao
eouD. i». iroi
Pacific RailroadsCentral Pacific gold bonds.,
ios'
106
consolidated. . .
2d do
1st Spring, dlv..
.
.
Chicago Ext
do
do
do
118
do
.105«
m. Bs. :io5 111
Fenlnaula. 1st in., conv.
Chic. * Mllw., 1st mort.
Atorrls
w
100
iBtmort..
cp.gld.bdB.
KK.of N. J
. .
N*. Y. Elevated liK.,l6t m., 1906
Ohio ft Miss., consol. sink. fd.
lllJv
l8tni.,c.&M. {110 ill
102«
CWc.iN.
Central
,
.
con8ol.6Uik.fd
adm
1102
;iou
Kalamazoo A W. Pigeon, Ist
Leta.ft WUkesbarre CoaL.iBI
Det. Mon. & ToL.lst 7s, I9W
114H
ini«eellaneouB List.
i'u
Lake Shore Dlv. bonds
(.Brokers' Quotations.)
do
Cons. coup.. Ist. tl'.B«
118
Cons, reg., 1st..
do
OITIES.
Cons, coup., 2d.. io«;;s
do
Albany, N. Y., 68, long
109
Cons, reg., 2d
do
Buffalo Water, long
Loulsv. & Nashv. cons. m. 7b. 110^ ___
Chicago <s long dates
kt% 100
do
2dm., 7s, g..
do
7s, sewerage
4« Nashville
..
ft Decatur ist. 78..
1U3
do
78, water
40>4 Marietta ft CIn. 1st mort
do
7s, river Improvem't
sterling
do
Cleveland 7s, long
Metropolitan Kiev., 1st, 1903.
9<!M
Detroit Water Works 78
Mlcb. Cent., consol. 7s, 1902.... 115
118
Elizabeth City, short.
ist m.Bs. :882, s.f.
do
do
long
34
equipment bonds.
do
68, various
35
5e« '68« Hartford
Mo.KftT.,ccns. ass., 1S04-5-6.
Indianapolis 7-30S
7-.iM
2d m. 111., 1911
Hi
do
2iW Long Island City
H. ft Gen'. Mo., Ist, 1890.
9HHi 100
78 long
New Jersey Southern istm. 7s *1H 48 NewarkdoCity Waterfs,
long.. .!
35«
do.
consol. 78, 1903.
Oswego 78
105
N. Y. Central es, 183:1
Poughkeepsle Water
iV^
do
6s, 1887
no7K
liochester C. Water bds., 1903
6s, real estate..
do
U04^j
Toledo 88. water, 1894-'94 ....
do
6s, subscription,
Toledo
do ft Hudson, 1st m., coup \t^ 121Ji Yonkers?.30e
Water, due 1903
do
121
do
Istm., reg.
Hudson R. 7s, 2d m., s.f., 1885 109
KAILROABS.
Cduada South., let guar..
Atchison
& F. Peiik, 6(. gold.
78k im
Harlem, Ist mort. 7s, coup... ;124
Boston ft N. Y. Air Line. Istm
do
do
7s. reg
122
Cnlroft Fulton, 1st 78, gold
108
Istm., LaC.U.
lstm.,I.&M... :105>s 107
Istm., 1. ft D.
105
lBtm.,H.4U.
State Line
;
Jollet & Chlcago.ist m.
La. & Mo., 1st m., guar.
8t.L.Jack.& Chlclst m. 110«
Uilc. Bur.& (i. 9 p.c.lstm 111
do
censol.m. 78 tilo«
.
&
.
,
do
let consol, ..
do
sssested
do
conv
do
assented
do
adj'mt b., 1903.
Lehigh & W B. con.guar
do
do
asstii.ted.
82
30
Buffalo
—
Hu-lposaL. & M.Co
do
do
pref.
Ontario silver Mining
40
Homestake Mining
X82
Pullman I'l.l Car
do
58 sink, fund
Ch.Bk.I.4P.,8.f.lnc.68,'95.
66,1917, coupon
«s. 1917, reglst'd
Keok.SD M's.lst 1 g.,5s
Ventral ol r« . J ., Ist m., 'tKI
lOlH
.
vm
St.L.ft S. K. cons.
:,'9i
St. L. Vandalla ft T. if. li
do
2d, guar
Sand. Mans,
I
Long
(
46
108M,
.
.
Nashv.
& Ilud. Canal, reg. ;s.)8!*l .... llOlJ^' St. L. ilton & r.H. Hi m. Inc'me
Belleville ft s. III.R. Ist m. 8s
do Ist Pa.dlv.coup.7s,1917 .... ;oo
lOOXlOOlSi Tol. Peoria A Warsaw, Ist K.D
reg
do
110»iill2V^
Istw. D
do
AIb.inyiSu8q. 1st 'Ids
bonds
loiHlio:
2d
...
do
Burlingt'n niv
do
93
iid bonds. ..
do
2d mort. 1?88..,
do
iHH-'ms.aua
JM
do
consol. 7f, 191U
do
...
110
do P.Cora. Hcpts.lst.E.D
Rens. & Saratoga, 1st conp
istre^... Xl\»
do
do
do
Ist.W.D
efi%
Denv.& Rio Grande Ist m.,1900 88
do
do
Bur. O
....
118
Eric, let mort., extended
do 1st pi-ef Inc for24M
100 102!^
do 2d do 7s, 1379
do 1st inc. fo.- conB'd
47ii
100!^ 107
7b, 1883
Tol. ft Watash,, )»t. m. exteuo.
do 8d do
"2% do 4th do "s, 1830
108
...
tlo
ex coupon
...
114
do 5th do 78,1888
170
do Istm.St.L. dlv.
bonds.
1930.
gold
159« do 7b con.=.
do ex-matured coup..,.
do 7s ex-cou[i.Sept.,'70&prev {103« 104?^
do 2'1 mort
Hi)
Long Dock bonds
do Extended, ex coup..
115
Bull. N. Y. & B. lat. m., 1916.
In
Gotilp't bonds
106
Han. A St. Jo., 8s. conv. mort
106M
do con. convert
IOS
111. Cen.— Dub.iSIoux C.istm
do
ex coupon
2d div. 1'8
do
do
Great Western, Ist m., 1888..
07
Cedar F. & Minn., 1st mort.,
do
ex conpon
3;
Indlanap. Bl. & W., 1st mort..
do
2d mort., '93
2d mort.
do
do
''o
ex coupon
106
Lake ShoreQnlncy ft Toledo, Ist m., '90..
48H
Mich B. & N. Ind., S.F., 7 p.c 1\0H
CO
ex coupon
4S
Cleve. & Tol. sinking fund..
Illinois ft So. Iowa, 1st mort
110
new
bonds
do
do
ex coupon
13
VS3% Western Union Tel.. llWO.cp...
Cleve. P'vllle & Ash., old bdi- 103
38
do
new bds :i2
do
do
do
reg
3H
114
Erie, new bonds..
Buffalo
&
[xcoMH
Bonds.
4U^
"8
Del.
AcUrteprerVwili/ quoVd.)
Albany & Susquehanna...
Burl. C. liap. « Northern.
IS
40
80
78
88
110
ibo
40
30
10
65
116
US
.
.
March
•
. .
,
H
..
THE (CHRONICLE.
23, 1870.]
NEW YORK
Bank
acock
297
LOCAJ. SECURITIES.
Inaarane* Block LU«.
Iilst.
(QaoUtloni by K.
COKPAIXaa.
8.
Uailit, broKer.7 Plneitraat.]
Paios.
1>ITIDSKDB.
Sarplna
at lateat
Marked ihtta
(•)
date*.
Amount
ra ^>t Nat'l.
merlcm*
Am.Bzchangs
(
Period 1«7, 1878.
100 8,000,000 1,418.700
77*7
too s,aoa,ooo I,1)U.W>0 M.*N.
luo 890,000 . 17^.9JO I.* J.
83 1.000,000 1,110,3110 I.* J.
S«tcli6rt'ft Dr. 8^
78,300 J.A J
1100,000
CwtnU
100 8,000,000 Ml.OOO .l.*J.
Obtis
100 800,000
84.800
QiMbam
400,000 180M0 .I.'iij
Qiunlui...
too 800,000 3.183,000 ni-m'ly
Cltluiu'...
as 600,000 18W,8>10 J. A J.
City
100 1,000,000 1,410,300 M.*N
Commerce
100 \aao,oao >i,66a,tl00 .1.* J.
Oo*tli«ntiil.... 100 1,000,000 8MI,800 I.* J.
Corn Kich'jre*. 100 1,000,000 743,030 P.*A.
Kut Hirer
S4,H00 J. A J.
ss aso,ao5
llUi Want*
7,800 J.*.T.
as 100,000
Flflh
100 iso,oao
48,800 J.* J.
rifUi AvenaeV 100 100,000 180,700
rtru
100 soo.ooo 1,148,700
Fonrlh
100 3,1100,000 713,800 I.* J.
Kaltjn
80 600,000 413,400 M.«N.
Okllatln....
to 1,000,000 680,000 A.AO.
Oermoo Am.*. 100 730,000
88,700 P.* A.
Oermui Kich.' 100 800,000
B0,«00 May.
Germ&aU*
100 800,000
4»,7aO Mar
OreenwlcliV... as 800,000
14,800
'k
Grand Ccntna* as 1CO,000
700
Grocori"
16,700 J.* J.
40 800.000
RanoTer
100 1,000,000 186,400 J.dlJ.
Imp.4 Traderc 100 lfiO0,OUO ,e8»,too J. A J.
IrvlDff
so soo.ooo iuo,9ue •T. A .T.
Island City... fO loo.ooo
6,800 J. ft J.
LoalhurMaouf. 100 600.000 431 30C J.* J.
ManliHtun*
80 a,osn.ooo 1,086300 P. ft A
Vanuf. AMer.
100,000
8,«00 J. ft J.
80
jfliiTine
63,800 .J. A J.
100 400,000
Market
100 300,000 818.800 I. ft J.
Mechanic*'
83 8,000,000 8r7.800 J. A J.
Uech. Aasoc'n. 60 800,000
60,700 M.ftN.
Mech*lo * Tr.
l«,400 M.ftN.
800,000
Mereaollle
181,700
.- 1,000,000
Merchant!'. ..
50:2,000,000 »83,50'J J. ft J.
Merchant*' Ex. 90 1,000,000 812.400 J. ft J.
Metropoiu*. .
Bl.-OO I. ft J
800,000
roijwtjr
8
Metropulliaa..
3.000,1
•"g
100
10
8
10
in
?0T,
fInUi
To. Anie'-Ica"..
forth BlTof*.
Jrlenta)"
240.000
itOO.OOO
4!i2,700
geoplce"
Pheulx
Produce*.
100:8,000,000
28 418,800
20 1.000,000
lOO:
..
Republic
Ian., •;«.
. "70.
.Ian., "!».
July, '76.
18
Jan'.', "79.'
7
Oct
Union
S0,«00 J.ftJ.
881,800 J.ftJ.
678,800 M.ftN.
86.800 J.AJ.
BO 1,200,000
*e«t81de*....'. 100 800.000
Casand
[Ow
rommercp
j'a'ii!,
Jan
14
hxciiaoge....
Farraffut
148
Firemen's ..
Firemen's Fund
Firemen's Tr
Franklin
iS'*
Feb.
7
'711.
aiobe
Greenwich
Uoardlan
Hamilton
Hanover
ais
'79. 4
'78. s
°79. 4
"79. s;
'73.
'78.
Jan.,
8
Oerman-Amer.
Qermania
70. 3ii 101
,
Jan.,
Jan.,
Jan.,
8
8
,
S
Jan.,
—.,
Hofftaaan
180
a
July,
Home
Hope
,100
Howard
Jan., "79. 3«'llSK
Jan., "79. 4 |l'»
133
.Not.. '78. 8
57
Nov.. ,"77. 8W
..
Nov., '7-1. 3
80
Importera'AT..
Irving
lefferson...
lIlngsCo.(Bkn)
Knickerbocker
I
Jan. '79. iJW
.l«n., '79. 2 I
Jan., '79.
Jan., '70.
Jan., '79. 8
Nov., '7s.
.Ian., '70. 4
lau., '79. 4
Feb., •79. 4
Jui.., '77. 3
124W
Lenox
.
411 7
a«
117J<
Manur.ft Build.
128
Mech'lca'(Bkn)
70
7054
'79. 4
Feb., '79.
•iAn., '79. ,S
Jan., •79. 3)i
Jan , '79. 3
'74. 3>,
July
. ,
'!'.'
,
2K
a
10
J.ft J.
6
19*1.300 .U,ft.N.
7
S
"s
9
8
.
108
94
Feb.,
'711.
Aug.
'77. aSj
9i
'78. 8
....
'79. 4
'79. 4
July,
Jan.,
Jan..
Jan..
Nov.,
Jan.,
Jan.,
jNov.,
Jau.,
'79.
97
'm^
100
3
101
9^
Mercantile..
.
Merchants' ....
Montauk (Bkn)
Nassau (Bklyn)
National
N.y.KqnItaWe
New York Fire
N. Y.
Boston
ft
New York
city
Niagara
North PJver..
Paciac
i'ark
125
3
ns. 3>,
Peter Cooper...
People's
Phenlx (Bklyni
Produce Exch.
'78. 3
"79. 8>i
'78. S
...!
'79. 4
Kellef
Republic
Kldgewood
fur the National banki, an
1S79,
Manhattan
Mech.ftTrad'rK'
Ja.i.,
Ian
LonKl8l.(Bkn.)
Lorlllard
to
3
'77.
Larayette(Bkn)
Lamnr., ,.
78
S«
July,
...
Kmporlum
100
8
3
Fire
Kagle
KmplreClty....
SU
•77.
Columbia
Continental...,
3
'77.
•78.
City
Clinton
Commercial
S^
'78.
,
Not.,
F.ftA.
J.ftJ.
J.ftJ.
J.ftJ.
I The fleure* In thl* colnmn are of date Jan.
•I date Dec. H, I578 ,tor the State banks.
lao
B
79,
May,
3
7
304.300, F.ftA.
Third .. ..
100 1,000,000
Tradesmen'*. .°. 40 1,000,000
im.
8
Mi
'74. 3
Feb.,"May, •78. S
r.A.i
38.000
80,100
61,300
821.800
40,000
Brooklyn
CItlzena*
S
Jan., "79 3
Nov., '78. S
ttX
10
J
100 1,000,1100
Bereath iVard. 100, SOO.OOO
Second
100 300.000
Mlioe* Leather 100 SOO.OOO
Sixth
100
Bute of N. Y.. 100 800,000
800,000
.
Bowery
Broalway
Jan., tg, 4
Jau.,
1II8,.SOO
100 1,800,00'
8t. Nlcholai
Atlantic
110
B
Feb.
id
71,»00 F.&A.
31,190 J.ftJ.
43,800 I. A J.
88,800 J.AJ.
180,400 I. A J.
vl4.4ao Q-F.
814.900 J.ftJ.
143,600
ft J.
184.800 J.ftJ.
7011.000
Faciac
Parle
71,8011
800,000
300,000
750.000
].r. H. £:«li.
Amity
3M
•!».
.
American Kzch
•'"'. 79.a8
i«n., '79. 8
6
iS«
Aroerlnan....
a
'?».«'
'•».'
6
100
.ftN
SW.OIO J.ft J
1J,000,(IOO
iStna
J*".. "79.
C2.7U0
34 .000
1,000,000
HowTorii
H. J. County..
.
7S2.l)00 J. ft
00
100.000
Maianu*
Adrtetio
lOS
•Jan., -ni.
8
MAM.
Murray mil'.
188
«
•tm;
Jan., -tv. 5
Jan., •7,,. H
16
.
I
Jan., •TV 4
Not.,
iS«
tewwy
OearAxa*.
LaatPald.
Rutgers'
Salegnard
St. Nicholas....
Standard
and Bond*.
Cltr Railroad Stocks
Star
Sterling
(jnoutlon* by Oeorge H. ProntlM, Broker, SO Broad Street.
Stuyvesant
1
Tradesmen's....
Par.
Brooklyn Oaa Light Co
Oltlsena'OaaCo (Bklyn) .......
do
eertiUcatea
_
Harlem
Jeraey City A Hoboken. ...'.!!!.'!
Manhattan
Metropolitan
do
].
oertlQcate*
Mutual, N. y
do
bond*
Nassau, Brooklyn
dew
do
York
scrip
..„.
...
.
People's (Brooklyn)
do
do
do
do
Central of
bonds
certlflcate*.
New York
~25
SO
l.COO
•crip
Metropolitan. Brooklyn
Municipal.
Date.
Amount. Period
a
Var.
Var.
8-30,000 A.ttO.
1,830 000 ^•.AA.
780,000 J.AJ.
5
8
Jan.,
34
Oct., '78
3
Feb.,'7»
7^
Jan.,
5
S
Feb., '79
Feb., '79
8,000.000
1,200,000
50
80
SO 4,000.000 J.AJ.
100 2,900,000 Vf.ftS.
V
r. 1,000.000 M.fta
100 5.000.000 Quar.
1,000 1,000,000 F.A A.
8B 1,000,000 Var
Va . 700,000 M.ftN.
100 4,000,000 M.ftN.
10 1,000,000 I. ft J.
1.000
888,000 M.ftN.
</u.
300,000 J. ftj.
30
SO
Var.
100
100
WUUamaburg
do
United State*..
Westchester...
V
Ga* CoMPAiiiia.
Bid.
*
'-.a
Ji.n., -79
'7.1
3(4 Feb..'7><
IH Jan., '79
3Mg
8
I.W., '79
SH
XOT.,'78
140
78
93
35
148
180
lis
98
78
98
73
9S
•8,1110
Jan.' '76"
80
100
43
ISO
190
100
76
100
76
98
109
30
•79
Feb
19
79 7B
70
88
Ian., '79 R5
N..V, ';h 62
Feb. •79 118
flO
Jan.,
Over all llabllliles. Including re-Insurance, capital and >crlp. tlucloilTeof
Figure* with a mluus sign before them show that the (.omnany Is
impaired to that extent.
acrip.
va
Jan
466,000 F.A A.
1,000,000 Quar.
1,000,000 J.ftJ.
1,000,000 M.AN.
1,300,000
25
90
75
eo
vrmiamabg C
148
95
125
IQnotatlona by
fl.
*
mfelcer Si.<t FuUonferrif—atli,
100
900,000 J.ftJ. IH Jan., "79
lat mortgage
1.000
7
J'ly,1900
694,000 J. ft J
Wroadway li Seventh Av*—Mlk.,
100 8,100,000 Q-J.
8 Jan '79
1st mortgage
1,000 1,800,000 jTftD
inne. '84
7
arostlirn Cfiy—stock
10 8,000,000 Q-F. 3H Feb., '79
1st mortgage
" Nov., '80
1.000
800,000 M.ftN
9roa'tu>ai/ (Hroatlyn)—stock...
100
J.
Jan.,
800,000 (JWooklyn ,ft //tinter's iv-stock.
100
Oct
400,000 A. ftO.
"
lat rnortKftge bonds
1.000
800,000 J..*
BuMhioick Av. (/TA/un)— stock.
100
800,000
Usntral n., .V.,t K. aver-tm.
100 1300,000
ftJ.
Jan.. "79
Consoltdwted mortgage bons 1,000 1,800,000 J.ftD.
Dec. 1908
Dry Dock. f. B. tt Uatterif—tlt.
100 1,800.000 <J-F.
Feb., '79
lat mortgage, cons'd
SOOAc 900,000 J. AD
Juue, '93
Bli7AiA Ae«nue-.<tock
loo 1,0*0,000 J.AJ.
Jan., "•9
1st mortgage
1,000
Jan., '84
803,000 J.AJ.
idSt. <t Orand St /srry -stock
100
Not., '78
748.000 M.AN.
lat mortgage
1.000
Apr., '93
288,000 A.AO.
I
,
lat
7oim'
atorlc.
...
mortgage
ffeit t.itPatJ'i/~tlt
^tuton,
Istinortgage
Sacond AmniM—stock.
9d mortgage
Ciina. CouTertlale
Kztenalon.
HalhAienM- stock
mortgage
rWrd itesniM— stock
lat mortgage
lat
mnrfr*'^
' 1 ttu
600,000
800,000
100
880,000
800
600,000
100 1,199,800
.'a'j:
.OOO.OOO^J.
600.000
AJ
'
"
fvoooo
cuiuiua au«w» U*l dlTldcad on tteckt, bat the
S8
80
86
38
100
73
75
83
Its
40
July, '94
Apr., 18
May,
,
80
'88
'88
May. '77
78
y, '90 100
Feb.. '79 118
July, '90 B2W 9a
Feb ,'79 98 too
'
'.
daM of
104
9H«
100
Apr
1,000
100
t.noo
80
40
00
85
101
140
110
ISO
100
108
90
4S
10
Sept. '83
A.AO.
M.AN.
J.AJ.
Q-F.
100
130
108
13S
88
100
NoT.i904 l»
OOftc.
.
.
M.AN.
90
80
as
96
65
100
180
loe
1,000
ISO.OOO a'.a o*.
1.000 1,060,000 M.AN.
aoo/Kio
100
780,000
1,000
418,000
100 8,000,000
-
let
lManJ»-<*»->i.'<>rM(—4itne«...
100
1,000
....
lOS
100
110
137
18
,
Cwtlral CVo««
I
««
ton
lOH
uatarity of »o<td«
Wall Street.]
IfiW York:
1M1-4S
Wateratock
1954-57.
do
Croton wateratock.. 1845-51.
..1SS2-40.
do
do
Croton Aqned'ct stock. 1866.
piptiB and mains...
do
10
rt'pervolr bond*....
(Antral Paik bonds.. 1858-57.
ao
..1863-65.
1870.
do
Market stock
Improvement stock
do
00
1:^75.
18*3-68.
1869
....18»«.
Consolidated bond*
Street Imp. atook
do
var.
var.
Tar.
do
New
Consolidated
Weatchester Coanty
Bonda
Months Payable.
Rate.
Dock bond*
L. Orast, Broker, 145 Broadway.]
40
IirmBST.
do
IQuoutlona by
Cttr Secnrltlea.
Dakixl A. Mobah, Broker,
do
do
do
do
S
6
6
7
6
do
do
do
do
1878-IS7WI00
do
do
do
18T9-U88
1890
May A NOTember.
Aug.AN0T.
do
do
do
3
do
May A NoTember.
May A NoTcnber.
do
do
do
do
do
Janaary
do
s'
7
•«•
do
do
A
do
Park bonds
_
Water loan bond*
Brldgebonda
_
Jainary
do
4o
io
do
do
do
do
Mar A SoTember.
do
do
January * July,
do
do
•Water loan
City bonda
,
Brldgf
'All Brooklyn bond*
1886
111
18M
100
vuy—
Water loan. long.
do
.1S»-71
Sewerage bond*. ..
tssaasmeat botida...ino-7I.
bond*
ImproTement
11
Benen bonds
4.
Montgomary
!0I|
118
10»
118
100
114
at.)
1879-lSHO 101
18SI-1N9S 108
!gl519'i4
1903
|1119U
1915
119)2
19OS-1906 110
1881-1886 IU4
"
.
1880-nHI|lu3
1880-IMeO 108
laM
,110V
1807-1810
109>i
Itol.
[Quotatlou by C. Zabbiskii,
Jmreey
July,
do
do
do
do
do
do
....
Kings Co. bond*
do
do
Park bonds
ft
lOS
ll»
too
108
1888
July,
[QuoUtlona by N. T. Bbbks, Jr., Broker, 9K Wall
ArooiClvn— Local linpr'am't.
..
City bonds
101
10a
108
10«
1878-1880! 100
108
t883-l.HS0 103
1884-1911 104
1^84-1900 no
1007-1911 107
1878-1808 101
1877-1890 100
118
1901
18M 107
1804-1897 118
IDS
1880
18JV-I880 loa
111
1901
Feb., May
6
7
6
7
6
7
Bid.
due.
Feb., May Ang.A Not.
St.,
nntj
City.
1
91
1800
January A July.
18*0 1903 «7
January A Juiy.
IHW 187W «0
do
do
Jan., May, July A »ot. i87i»-i8:a,
9\
ia9l-«4
J.AJ. and J AO.
lunn
97
.lAQnarT *«.* .I'll.
u
'
!0a
lit
181
121)J
III
\Q»
100
106
I
law
:
.
.
THE CHRONlCLb:.
:298
fVoL. XXVIIl,
coupons attached to the bonds above referred
%\xvitshntnts
AUD
STATE. CITY
'
AND CORPORATION FINANCES.
The INVESTORS' Supplement
1b
published on the last Saturday
all resrular subscribers ot the
of each month, and furnished to
are sold at the
Chroniclb. No single copies of the Supplement
number is printed to supply regular
bound
One number of the Supplement however, is
can be purchased
and
(Annual),
Review
THBF1NAKCIA.L
up with
office "as
only a sufficient
.ubscribers.
^REPORTS.
in that shape.
ANNUAL
Chicago
&
Alton.
{For the year ending Dee. 31, 1878.)
this company
condensed statement from the anuual report of
A
was published
The following
Chronicle of March 15, on page ZA.
additional particulars are from the pamphlet
in the
report
LKHOTH OP BOAD OPBBATBD.
Miles.
Chicago tnJoUet(ea«d)
Joliet loBistSt. Louis (owoed)
Dwight 10 Wafhinston, and Branch to Lacon (owned)
I{ooolioiisetoLnnisiani(owned)
Coal Bianch (owned)
ChicrsoA 11 I'oisKlver (leased) •••.-•
St. LousJicksonviUe* Chicago (leased)....
Lonieiana & Missouii K ver Railroad (leased)
'"lO
"'".J"
19 80
so lu
,°.2°
,.".»°
JoO
W
.livm
CAPITAL STOCK.
10,065,400
••• fn'm^'lSS
Commonshaies
^
Convtrtible scrip ontstandlng
SU,490,87a
Total
FUNDKD nSBT.
First mortgasre 7 per cent bonds,
dne January
1,
$2,3=3,000
1893
Incom.' boiid--, 7 percent, due Jinuary 1, 183)
Consolidated lipercentsteriing bonds, due July], 1903, £900,005, say
8t Louis Jack'<onville & Chicago Railroad bonds, assumed In purchase if road from lioodhouse to Louisiana, flrst mortgage 7 per
cent,
mat iirin? April
1,
l,OJ:i,000
4,3:9,850
584,000
I83,CO0
1894
Secondmortiager percent, maturing July
1,
1893
Total stock and bonds
121,038,724
6 per c^-nt sinking fund bonds issued during the year, and
deposited with the United States Trust Company to provide for
constructing new road from Mexico to Kansas City, will be
hereinafter referred to.
raoOMB ACCOUNT FOB 1878.
$64,612
aorplus, December 31. 1877
J)iTldends, Interest, etc., collected on stock, bonds, and surplus
173.5)4
to
the
company
or
due
by
accounts held
4,671,619
'Gross receipts from traffic. Including Mississippi River Bridge
The
$4,909,676
Total
DISBUBSEMCKTS.
Interest on funded debt
-•
Interest on Lsuislana & Missouri River bonds.
Rent St Louis .lacksonviUe & Chicago
Chlc-go RR
Louisiana & Missouri River RR
" Miijsiseippi River Bridge Co
Sinking fund bonds redeemed
Dividend No. :J0, paid in .March
**
" 31,
"
September
••
Joliei
"
RR
&
1873, lf74, 1875, 1876
abd
1677,
KANSAS CITY ST. LOUIS & CHICAGO R. R.
"In our last annual report, reference was made to the Kansas
City St. Louis & Chicago R. R. Co which had been organized to
promote the interest of our company, by extending in line from
In ace >rda;ic? with the
Mexico, in Missouri, to Kansas i'lly.
terms of a perpetual lease of the new road to our oiupany, the
K. C. S. L. & Chicago R. R. Co. has issued nnii transferred to our
company $3, COO, 000 of its first mortgags 7 per cent bonds, $1,500,000 of its preferred stock, and the proceeds of all local subscriptions to i's comrann capital stock, amounting to about
$200,000; in conaideralion of which our compauy has agreed to
The bonds referred to
construct, equip and operate ihn line.
have been deposited with the Uaiied Stales Trust Company of
Now Yoik, as co lateral rccurity for an issue of the same amount
B-ith
of 6 per cent sicking fund bocds. issued by our comoany.
issues of bonds b?ar the same t'ate, and mature May 1, A. D. 1903.
"The new rosd will be fully completed and in operation about
the 1st of April next." The work is in all respec's ot the most
substantial character, including the bridare over the Missouri
River, at Glasgow^ " The track is laid with the best quality of
cross-ties, 3,000 to the mile, and steel rails, 60 lbs. per lineal
At the date of publishing this report, (Feb. 1879) the
yard.
and
entire railway and all its structures are nearly completed
will not
it is quite safe to say that the cost of the entire work
exceed the original estimate. The proceerls of the 6 per cent
siniiing fund bonds which have been sold, and the proceeds of
$500,000 of the preferred stock referred to, will be, when sold,
quite sufficient to pay the cost of the road, including depot grounds,
depot-buildings, fences, etc.; leaving $1,000,000 of preferred
stock and about $200,000 local subscription notes with which to
procure all necessary locomotives and cars for operating the line
—not more than $500,000 of which will be needed for that purpose until the traffic exceeds our estimates."
Of the business for the year the report says: " In reviewing
the statisti?s of the traffic over our lines during the past year, it
will be observed that our gross earnings from the transportation
of passengers were reduced, compared with those of the preceding
year, $140,748, of which amount $127,616 was due to reduced
This reduction of traffic being mainly local cannot
local traffic.
be the result of competition, and no special or local causes are
known to your board why it should occur. It has not enabled
your executive officers to reduce, to any appreciable exteiit, the
amount of operating expenses, and, therefore, is substantially a
loss of net revenue on that description of traffic."
The tonnage of freight transported one mile was over 17 per
cent greater than during the preceding year, and the average
rate pep ton per mile was 149-1,000 ot one cent less than in 1877,
which represents a loss to our company of $369,940 on the
paid in 1873
Operaiiug expenses, exclusive of taxes
Missouri Kansas
138,370
6i,000
3,000
432,B51
432.554
448,261
2,515,134— $5,019,113
Deb't balance De-ember 31. 1873
Credit from accumulated surplus (not represented in Income
account for tho current year), amount of capital stock taxes levied
in 1373, Io-4, lt75, li76, paid in 1878
$109,44J
follows
LEASED LINES.
earnings on each of the lices held and operated under
lease were larger than in 1877. The St. Loui« Jacksonville &
Chicupo Kaihoad earned 5010,698 in 1877, and $055,736 In 1878;
increase $45,037.
The Louisiana & Missouri River Railroad
earned |213 .528 in 1877. and $231,339 in 1878; an increase of
Sn.i-Ol over the preceding year. The Louisiana & Missouri
Biver R. R. Co. has compromised with its floating-debt creditors,
by issuing $300,000 7 per cent second mortgage bonds, which
are doe and payable November 1, A. D. 1900; and with the
«xceptio of the amount which it owes oar company for advances, to wit, $334,754, its indebtedness is substantially represented
by first mnrtpage of $16,000 per mile, and a second mortgage
of |:i 000 per mile.
"A cording to the terms of the original lease of that road to our
company, it was agreed that 35 per cent of its gross receipts
should be paid for its use, and that a guaranteed minimum rental 01 $1,370 per mile should be paid each year, even if liie 'd~>
per c>-iit of earnings did not amount to that sum. Under the
original Aiireemont and a subsequent one, our company is now
und.r obligations to apply so much of the rental as may be
Tequired annually to wit, $1,330 per mile, to the payment of the
e
&
Texas Railway.
{For the year ending December 31, 1878.)
The TTnion Trust Company of New York, trustee under the
mortgages of the Missouri Kansas & Texas Railway Company,
submits the reports ot the General Manager and General Superintendent for the year ending December 31, 1878.
From the report of Mr. Wm. Bond, the General Manager, we
have the information below.
The gross earnings and expenses for the year 1878 were as
:
liBKINOS.
505,266
Lcnv ngcref it balance
$!93,8J4
At the clope of the year, the company had among its assets,
represeu'ini: accumulated earnings which had not been recently
^ept^^rn ci \n its incoiue account, among other securities, certain
6 per cut first mortgage bonds of the Mississippi River Bridge
Company. The board sold since the close of the year $500,000
of said bonds, and applied part of the proceeds in reimbursing
the income account.
" Tl
,
freight traffic of last ytar,
$561,750
^.j,^^
2«i,150
131,603
. .
Taxes of
confi-
;
6''-8*
Total
Preferred sh.res
W-^ are
to.
ng from the
dent that the incr-ased earnings of that linf, reaul'ins
extersion from Mexico to K-ttisas City, will soon enable the
Louisiana & Missouri River Railroad Co. to pay what it owes our
company; and the value of the line to our company will be
greatly increased when that part of it between Louisiana and
Mexico becomes (as it soon will) a part of our new line between
line
St. Louis and Kansas City, as well as part of the through
between Kansas City and Chicago."
1877
$2,176,275
e33,675
94,915
54.775
S8,670
Freight
Passengers
Mails.
Express
Miscellaneous.
Increase.
$2,039,987
766,601
109,'.I62
15,037
54,775
1P.414
38,i5S
$2:5,689
$J,981,68l
t8,197,::21
Decrease.
$136,317
68,1 74
$
EXPENSES.
^Conducting transportation
tMotive power
t i^flintt nance of cars
Maintenance of way
(General expense
Renewals
Total
operating
$178,554
487,195
165 553
350.730
$486,5.";n
$10,004
4IF,197
554,021
225.639
500,035
106.359
460,210
"4W2J
$J,0W,572
$2,302,789
$30S.166
ll:>,535
3«,'>i9
39,9S0
179,305
7,i;5
expenses
and renewals
Net earnings...
Improvements
$1,196,749
113,724
$6:8.942
$1,033,C25
$4:i,958
t31,3(0
31,913
206,934
$519,806
98,360
$611,067
Rental of leased engines and
cars
Equipment and betterment.
6,211
2,55)
6,211
(1
Not proceeds
Net income
Deduct taxes on road-bed,
$128,833
$;,013,661
rolling stock,
Ac
$619,831
$428,883
S0,350
* Of 1978 conductirg transportation expenses,
material for renewal and irapri>vement work.
t 01 1878 motive power and maintenance of cars expenses, $42,000 was for
hauling material for renewals and improvement work.
X In the printed report of 1877 this amount was included in conducting
transportation and motive power.
,
:
THE CHRONICLE.
MAncii-JS, 1810.]
Reoul
KARHINGS.
Ab comparac] wiili the yuar 1877, tliore liaa beim a decrea*« Id
grosa (raiaKH of $'J19,03J. This deireata wm occimloaed In
fiart hj ihe decresM In tb» corn proiuc. and «hlpm«Dt on the
e Daeember 31. 187(4
Lesa pijr-roila and acMUDla parable Oecimber 81, 1818
From
From
Remittance to Sedalla
way
$61,781
31, 1878
OR
1879.
t48jer ton
$)(i\O0O
35,3(0
Faatenlnga, 7per cent of taltjbiu
$3-5,300
Leaa1,00J toot old Iron
ralla, at
$10 per ton
140,000
$-M5,.>oa
40?,0M ties at 37(4 ccn a
Kuijcva's of brii;g,:a and trestles
Now
fi'i,000
[]
'
buildings, aide uack«,
4c.
ToUl
»ilH.4il
rn.-ij.'i
66,'i42
lai.'-J.M
3(844
j/iM
7'j65
.'.'
Total
Lonis Kansas City
&
Northern.
(For the year ending Dee. 31, 1878.)
An abstract of the company's report waa publishei in the
ChuoniCLE of March 15, on page 375. The following additional
particulars are from tbe pamphle*. report
iNcoms AocoDNT roR 18:8.
Earni ngs January 1 to December 31, 1878
Less operating ezpenaea eame period
Rent of tracks
Freitibt earnings, pool accoint
Paasen^er eamioga. pool account
:
1,976
IM6— $1,147,418
7,S«
49,38&
.
ProfltaDdloce
i,aa4
$l,40i44»
Charga for
llu ytar 1818.
Interest oti first mortgage bonds
Inlereft o,i real estate and railway mortgage bonda...
Htnt H'inniba)
St, Joseph track
Rent Kansas City Bridge
&
Bent Boone Connty & Boonvilie Railroad
R-nt St. Louis & St. >Toaepb Riilroad
,.
Rem St. Louis Cedar Kaplda & Ottnmwa Railroad.
Rent St. Charlea Bridge
Beat Union Depet, St Louia,
Taxes for 1818
&iterest and discount
cars, balance
Balanceat debit this account, Dec.
«.M0
5.^,00>
7.1011
35,000
«,51i
117,03n
14.^30
77.01)0
61
I*.<t2
31,1113
13,778
11,378
minor Items
Balanccat debit tins account, Jan. 1, 1878
Charges made In 1673, but accruing prior to Jan.
$480,000
S09.510
$1,088,7SS
575,414
1,
1878.
1,803
31, 18T8
1,«S3,910
fiilJMt
eESEKAL BALANCE 8HEET, DEC. tl, 1878.
Cost of road, cqnipment and appurtenmcea
$3S,eOO,000
Cost of Glasgow B.-anch— Payments ou nccount
37,718
Cest of St. Loul^Coniicil B. &. Omaha RK.— Payments on aoeonol.
a,«10
Cost of St. Charles Bridge
1,771,535
Siibscriberi toconstrociion fund
..
4,375
Expendit.iresf >r conaiructionaince Pcbinary, 1872
4 018,355
Preferred aloci— St. Louis K'in8.Hs City & Northern
•.03J3I8
Common stock— St. Lj. is Kansas City & Northern.
48.085
apilal alock-St. L. Oiiuinwa & Cedar Rapids— as per contra. ,.
5<(i,000
Crtpiial stock— Union Depot, Kinaas Ci y
I.OCO
Profit and loss— Pref .rrcd stock St. Louia Kanaas C. A Northern.
153,610
Billo receivable
,
i3,n«
^up ilteson hind
l47.tM
Ba.ancc at debit income acconnt
t57.««
•
$»r8oi,'«it
10,'-3Ii
UNION TKl'ST COMPANY, TRUSTEE.
The following ia a conssiidated statement of the general accounts of the operating department of tbe Mlaaouri Kansas &
Texas Railway, under the trusteeship of the Union Trust Company of New York, covering a period from January 1, 1878, to
December 31, 1878:
CO-VaOLIOATED aXATIMHT 0» OENIBaL aOCOUMTS DBCXUIB 31, 1818.
Commonatock
.-.
Preferred Block
Seven p. c. Isi mort. bonds No. Misaou 1 RR. assamed by this Co.
Real estate and rlllwav mortga-j,! bond-*
St. Charlea Bridge 1st mortgage bonds
St. Charles Bridge 3d mortgage bonds
Profli and loss- SI. L. Ottumws & C. R. RR. slock, as per contra.
Bilispaysble
Balances due by the Co leas balances due to Co., and less $88,5!t
t3-£,14S
3,981,'<81
67 '8'
$lS,00Q.a08
11 O0,),000
(,000.000
8,99J.(]0d
1,000,003
888.908
5S',000
S50,8M
,
cssbonhand
...
:31,10B
$ir80li4W
Dr.
31, 18J8
$3,334,495
S8')t.3
ic«7^
Aaaeta Jaonary I, 1878
Orosa earninEa for rear ending December
Caah on aceoont of aalee of land
lO.OOO
15iO0O
10,000
15.000
$510,no
St.
$343,48 i 11
-O'track
151,000
.-
masonry
Widening banks
Addidonal water supply
ttridj^e
Total, includicg variona other
Expendllnree for 445,211 new cross and switch Ilea
Expenditures fur labor on new steel and Ilea
Expenditures for new bridges, bridi^e masonry, culvert* and treitlea
Kxponditurea fur balla't
Ex|iei]dilures for water aiatloaa
Expenditures for new side tracks
Expenditures for buildings, piaiforms, fencing, &c
Bxpcndlturca for enadry otber Itcma
1)4,771
$58,981
I
Repairs Hannibal & Si. Jo,<eph track
Rent St. Louis Council Bluffs & Omaha Railroad.
:
DO
bonds and coopons
in the transacti )n of its busineps.
7.S00 tons of steel ralla, at
80
S0«,9S4 4}
ralla and faslenlnga, 6,771 4)1-2240 tona of
aicel ralla, lesa value of e,,5:]7 I(i3-2t40 tone old ralla taken oar,
184,771
Mr. Bond submits estimates for renewala and iuiprovemenU
year 1S79, limitiog such estimates to what he believes to
be absolu'ely necessary for Ihe proper maintenance of tbe rail-
Use of foreign
Expenditures for new aieel
$67,831
for the
ltJ,98l,681 71
renewal and improvement expenditures which have
been incurred daring the year, and paid for from the revenues of
the railway, amount to $667,304, and the classification of the
now
office In
Land department ezponaee
£8TIH.\TES
..$1,581,407 43
.....
SCI.btl 90
total
t'll,>i4
BXOSIPTS rOB TBI TIAB.
and Interest, In cseh
and latereat In bonds and conpona
«3 2,J»J
4(10,219
as follows
aalea
aalea
'jg
Remlttancea to Sodalla Office In cash
Cash on band at Bmporla office, December
eCMXAKT.
is
1M.(I3
— 44,8,81II4LMI
COKTHA.
;
same
Ml.ttS
-.
Old csntracts canceled
;
The
5i.«tl
1878.
Bonds and coupons
;
$8,633,198 60
3.1,810-
!
Contract obllgatlona
:
Net Income
11111.111
.
OPERATIONB or LAND DKPAHTMKNT IN
'""•h
Incurred during the year, Included
under the head of " operating expenses," areas lollows
First,
the expenditures for maintenance of way for the year 1878, which
exceed the same class of expenditures for the year 1877 by the sum
of $170,305 second, under the general heading of conducting
transporiation there ia included the amount of the actual cost of
transporting materials for extraordinary repairs, renewals and
improvements, $53,360: third, the cost of motive power and
maintenance of cars, which was increased by the necessity for
maintaining and re|..airiDg engines and cira used in coostracclon
trains while making the extraordinary repairs of road war, the
sum of $43,000 amounting in all to the sum of $231,031. ' Adding this amount of extraordinary expenditure, all of which is
included in the operating expenses, to tbe item of renewals,
and to that of Improvements, $206.0<]4, it shows that
$460,319
there has been devoted to the improvement of the condition of
the road bed, replacing defective bridges, ties and iron, &c., itte
sum of $928,336. D<^ductlD'g this from the total expenditure for
operating expenses, renewaU and improvements, $2,509,783, we
have the remainder, $1,581,497, as tbe ordinary operating expenses of the railway, exclusive of rentals of eDglnes, cars, &c.
and of taxes, for the year 187:J.
Comparing this amount,
$1,581,497, with the total revenue of tbe railway for the year,
$3,081,681, it shows the ratio of operating expenses to be about
S3 per cent of the gross earnings.
ezpendllnrea
.JM
• |IS
itti ' Vlt
of acre* sold, 91, IIS.
Con-Uerallon for aales
EXPENSES.
To'.al
NMl
Number
The extraordinary expen»eB
41,124 86
80,380 11
tltJtJ
,...
Acoiunu reeaUab
;
:
cart
1
Tran>frrrcd lo tbe UnlooTrast Op. In cash
2,!^7 car-loads of corn, with a groas earning of f6),073. The
deereaae in paaeenser earnlnga was cauaed hj decrease In the
Tolnme of emigration from Northern pointa to Texaa. The
stream of emigration froji the Northern S'.atca to Texas calmlnated In 1877. The earnlnga of thii railway from pafaunKera
going into Texaa In 1877 were $282,032 for 1878. |218,754—
showing a decrease of $13,277; and this result without any
decrease of paaaenger rates. Aoolher cause which largely
decreaat-d the earnioga of the railway upon the buslneaa done
waa the enforcement of the reatrictive It^glslatlon kaowa as the
" Granger law " by the State of Misanuri, from the lat of April,
This railway operates 284 miles of Its road within the
1878.
State of Missouri, and prior to this time the local rates for paasenger travel were from lour to 6ve cents per mile In tliat Slate.
A peremptory reduction to three centa per mile on pa39^n;;er
travel over all the main line of the railway In Missouri waa
enforced by thla law. It also prescribed and enforced large
redactions of the tariff on all local freight bustineas within the
State, varying from 23 to 40 percent under previously-established
rates.
Another cause of rpduced earnings is found in the cteady
rate of decrease per ton per mile In the earning!* from transp9rtatlon of freight.
In 187S the number uf tons carried one mile waa
B2,S7T,Oil
lu 1876 th^* number of tona carried one mile wa?
106,110, 'M
In ISTT th« niim!)er of toascirrled one mile waa
10^,890,157
la 1678 th.' number of lun9 carried oae mile Wiis
...
I18,190,S<S
lu 18,5 tbe rate per ton oer mile wjb
$ .03.350
In 181H the ralo per ton per m'le wa^
OiOBU
In l\n the rate per ton p?r mile wia
019US
la 1878 tbe rale per tju per mile waa
01746
&c
of leased •oaloas an
Unadjusted accoanta
loe ol the railwaj.
Id 1877 there were (hipped over the raila groja carulDK of
0,021 cir-Ioads nf corn, producing
$368,231); while In 1878 tbure were ihlpprd over the rnllwrajr
GrOJB earnlnga
Operating ezpenaea, ordinarT
Operating ezpeoaea, extraordlDary
iJ9«
Bqalsmeot •atpaoaoaceioot. ...
Liquidation aceoanu M. K. *T. R'r Co. aodRaeeiTtr
way
Renewala
Improvemente
Rintala, equlpmeat,
Taiea
——
.
Central of lows.
(For the year ending Dee. 31, 1878.)
Mr. H. L. Morrill aa baen receiver of this ro>d from Ap :I 3),
Froa
1878, when he was appointed to snceeed J. B. Qrinuull.
his report to the court for the full year 1878 we have il e folluw>
$3,439,568
Or.
LlabMil'sa Jannary 1, 1874
Operatin/ rxp naes, Ac
Land department Fxpenaea
taxes
$3'3,4M
$3,590,0:8
$n611
35,H1S—
58,984
Ing
:
The equipment
conslsta of 34 locomotives;
pMMOger aoJ
7
.
—
:
:
THE (CHRONICLE.
300
sinking funds does not, however, represent earnings consumed,
as in the case of operating expenses, interest, he,., but is properly
an investment in the company's securities. It is therefore proper
to deduct the contribution to the sinking funds from the deficit
shown, to ascertain the true lossin the year's operations, as follows:
:
Passengers carried
Paisenger mileage
r Ui'b^i
'o^'i'
freight carried
'
Tonnage mileage
aa .ii
A.Terage rate per passenger permlle
"
"
ion
-m
aoHcU
•''
lor
"
[Vol XXVIIL
year, $68,100, is included in the expenditures, and is therefore
This contribution to the
include'i in the deficit shown above.
baggage and mail cars; 316 box, 30 stock, 270 coal and 14 way
push ears.
care; 3 service cars, 1 snow-plough, 46 liaud and 39
The traffic of the year shows
Tone
:
8148,11}
68,100
above
Siukingfuuds
Deficit as
•*•*'
Coal furnished 39 per cent of the tons carried and 67 per cent
The rate upon it was much lower than
of the tonnage mileage.
on other freight, averaging 1-19 cents per ton per mile.
The earnings for the year were as follows
$80,012
Loss proper
Honsa tonic.
:
(For the year ending Sept. 30, 1878.)
1877.
"•
P«Mei.geni
Freight
Halls, exprees, etc
Total
•
5g.«J»
'''°"'
8179.318
5S0.2tS
3S,950
Common
»755,668
$73i!,543
Bonds
*i«?5«
stock and debts are as follows:
The
$820,000
stock
Preferred stock
1,180,000
"0,000
••"
Blilspayable
Working expenses
Renewals
*f^t'n^i
hd^j«
89,381
Total
tsrS.BTr
8552,968
8180.O81
$209,678
NetearmngV.V.V.'.V.'.'.'.'.'
Earnings were diminished by a short wheat crop and by comWorking
petition in the coal business, resulting in lower rates.
expenses show a decrease, but renewals were large in consequence of the bad condition of the property.
receiver's balance sheet for the year is as follows
Eecelvfd, May 1, cash and materials from former receiver
OollfCtions on account foimer receivers
Collectiona Miirshall shops tax
Passengers
Freight and milk
Eamines
eighi
Total
$570,113
350,111
$589,407
354 436
$219,911
$234,!.70
Neteam'ingi
ol
in 1878
was as follows
:
Net earnings, as above
State and other laies
..il'S?,
Rentals
"iatnl
"°"'
Interest
$696,399
%-
ToUl
Expenses, eizht months
Marshall f hups
Paid on account of former receivers
«
Balances due
Materials
896,^41
24,459
Expenses
$115,779
mouths
1876-77.
$168,405
24,974
The income account
Accounts payable
1877-78.
$175,017
3?0,421
Mall, expres?, etc
The
*S
115,837
The earnings were as follows:
$219,941
$10,472
79 2-3
—
on bonds and loans
.
.
$82,625
39,
106,030
V
1877
8'**J'j''5
1.3'3
,
lo'^St
$248,65t>
Total....
94,400
Dividends on preferred stock, 8 per cent
SvxX,
«,»3
9'-"'°
Cash
137,315
4",t69
—
Surplus for the year
Balance of profit and loss, Sept.
$696,899
Fort Wayne Jackson & Sagiuaw.
{For the year ending Decembtr 31, 1878.)
."
$154,256
'....
Balance, Sept. 30, 1878
Hartford ProTidence & Fishkill,
(For the year ending September 30, 1878.)
This road was operated by the trustees for the bondholders,
but since the close of the last fiscal year has cone into the
president says, in submitting the usual annual statement, possession ot the New York & New England Company.
desire to remark that the prominent events of the year past,
The operations and earnings in the past two years
likely to sflect the future fortunes of the company, are: First
follows
l?77-78.
The unity of control effected last June between the Michigan
1 193,6H2
Sec- Passengers carried
Central and Lake Shore & Michigan Southern Railroads.
14.l91.e56
Pafsengor mileage
ond The commencement of proceedings in the courts to obtain Tons freight carried
283,114
",339 987
possession of this road by the trustees, and the institution of a Tonnage mileage
The construction
suit to foreclose its mortgages; and, Third
The earnings for the year were as follows
1877-78.
into this city of an independent track, with suitable sidings, and
8391, 3"^5
^the erection of depot buildings upon the convenient and central Passengers.
3-'3,412
Freight
'"•'""
grounds,' referred to as purchased for that purpose at the time ExpFess, mail,
-'" etc
61,360
of our last report."
$83S,188
Total
Passenger earnings have fallen cff about $4,200. This is
654,399
accounted for by a decrease of excursion trains and the difference Expenses
in earnings for the month of September, those of 1877 having
:.. ..$186,738
Net earnings
the advantage of the Michigan State Fair to stimulate travel.
The income account is as follows
The
"I
were as
:
—
1876-77.
1,247,732
15,476,226
296,681
7,853,814
'
•.
1876-77.
S-iMoei
418,823
65,255
,
TBXASUBEb's BTATBMEST OT RECKIPTS and niSBUBSEUENTS FOB THB YKAB
ENDINQ DEC. 31, 1ST8.
DISBUBSEMENTS.
BECEIFTS FROH TBAFriC.
*3!8,492 Paid approved vouchers from
Freight
Passenger
If0,462
|
U.S.mall Fervice
/mcrioan Ex. service
UUeage on
5,849
9,735
9,374
cars
|
Total from traflic
$416,915
Overcharges, collections from
other companies
6,273
HiBcellaneous receipts
4,729
Sec'd for damage on box car.
Gross receipts
Dec. 81, 18 7. on hand:
250
$448,167
Bills rec'able— motitly uncolleciinle
...
general office
$385,871
Interest— Ist mortgage coop,
due July 1, lb77
30,000
lutereat— 2d mort. coup, due
Oct. 1, 1875. Balance of $10
dneoneach...
Coupon No. 484, due Oct.1,1873
Commission and exchange
payinff interest on bonds...
Purchased $S8.o stock la Cam-
5,000
den wheat bouse
Paid on £0 new long box cars
Paid on Jackson right of way
and depot grounds
100
11,631
2,850
On hand
311
6,058—
*^m'1S
«,d06
Accounts payable
$866,644
Total.
$652,899
Expenses
189.564
Inteiest. taxes, etc
New
work, tncluding Hartford tunnel...
Camden &
The
..
37,278
Bills
lo
new account;
80,873
,,,,.,
866,644
(For the year ending December 31, 1878.)
and expenses for the year were as follows:
receipts
$253,816
15 614
Passengers
Ferry
".091
Freight
Ml"
May's Landing Branch
.S'^S
10,458
$436,131
rec'able (uncollectible)
84,679—
Atlantic.
Mlscellateons sources
Gross amount paid
&T. Co
L.
Cash on hind
Qrosseamines
Express.
$30,878
Balance with L'&rm^s
$216,938
1877-78.
40
639
$897,(i44
t,8i,706
*3252
27i,847
Total earnings
Operating expenses la 1878
•
$465,445
Dae
$467,010
treasurer for overdraft..
1,564
Leaving a balance of earnings over oparatlng expenses
The other expenses wereon funded debt, premium on
Interest
$465,445
Clereland & Pittsburg.
(For the year ending December 31, 1878.)
An abstract of the company's repoit was given in the CnKONICLE, vol. 28, p. 41, and ihe following supplementary report is
from the returns made by the lessee of operations for the calendar
year 1878:
iNcoas.
From
passengers
$4320;7
Fromtreight
From niuilf*. express, &c
From Pmsb. Ft. Wayne & Chicago Railway consolidated
1,751,417
8S 641
earnings!
202|4t,8
Total Income
$2i474,^
EXFEKDITtlBBe.
Operating expenses
Dividend fund.
Interest.
$l,.')m,OM
78H 795
Ac
46l|7i.7
Sinkingfunds
68,100
Total expendltnrei.
.
.
Deficit for the year
The deficit for 1877
$J,62?,747
•140 110
was
.'.'.V.'.
207;iil
Showing an improvement In 1878 of
$58!t98
It !b to be noted that the sinking fund contribution
of the
gold,
and taxes
Balance applied to capital account and increase of assets
The gross earnings for 1877 were
The gross earnings for 18T8 wire
Showing a decrease daring
$1S1,!1S
93,950
$37,862
^ioMJn
aaa.utu
$78,452
1878 of
This decrease in the amount of receipts is due solely to the
reduced rates of fare and freightage. At no time during the
entire year have the lares exceeded one dollar for a sinjjle trip
betwpen Philadelphia aod Atlantic City. The number of passengers carried largely exceeded that of any previous year in the
existence of the road, necessitating an increase of over 12 per
cent in the passenger car mileage and nearly 8 per cent in
engine mileage, as compared with the year 1877.
The rates of freightage during the year have been lowered from
time to time to meet the demands of shippers, and have resulted
in receipts lessened by $43,721, as compared with the year 1877.
The May's Landing Branch has not proven remunerative,
although the old rates have been maintained.
Its operating
Rem of
expenses were
'«'Jina
road
*?nrt
___!
Taxes
Total
The receipts
for the year
»10.J|5
$'.33a
were
Showing an excess of sxpenses over receipts
of
$6,947
I
M.vncn
——
,
:
THE CHRONICLE.
23. 1879.]
Clereland rolnmbns Cincinnati & Indianapolis.
(For the year ending Vtcember 31, 1878.)
r.M Cln< Innsti
la the aDDoal report juat iuued, the proideDt, Mr. J. B.
Uevereiix, r*markH that there waa tranaported in 1878, of
throuKli frHlKhi, 270,211,835 tons one mi'e, aKaioat 317,2.50,015
And of local freight, 00,633,5i)-i tona one mile,
toDa iu 1S77
againxt ,'(8.436. 38.5 tona in 1877. The total freifrht baul>><l one
mill! waa 315.845,373 tona, at an averajfe groaa ra'e of 7.")2-1000
centa pur ion mile, as compared in 1877 nith 273.GS0,3()O tona at
the rate of 8901000 centa per ton mile. The IncreaaH in freight
tonnage 1878 over 1877 waa 25 4-10 per cent, whilat the incrnaae
per cent. The decreaae of the
in revunne from freiKht Tvaa but
mveragH groaa Ireighl rate of 1878 na compared with 1877 waa
15 5 10 per cent,
Dm.
1877.
1878.
Inc.
Con'i.
Ctutt.
CenU.
0-890
0-619
0*041
P-7M
Frefsht eamlnga per ton mile
Cost of eame pur Ion mile
Ifet •arnlDj^a per ton mile
0-(l6«
,
Cent'.
0188
0-lH
,
0-097
0C6S
of paaaenger.i carried one mile in 1878, was. of
through paaafDKeis. 12,310,400; and of local panaengera, 17, 153,-900, aa compared with 11.401,326 through, and 17,6G4,a'>l local, in
An increaae in 1878 of 8 9-10 per cent of through passen1877.
ger traffic, and a de:;reaae of
710 per cent of local traffic. The
total number of pa^aengera carried oue mile was 20,470,300, aa
compared with 29,060,177 in 1877.
The Dumber
Xamlnta p;r paucni;cr per mile
Gest per pa sf eager per mile
KetearQioga per mile
187-.
1873.
C«n(«.
Oents.
i-851
S-:»8
1*481
1*878
1-J8J
ruo
Inc.
Dec.
Ceotif. Cents.
...
061
O-Oil
0-JlO
Many
railroads mar ahowlarger earologa per mile,gro8S or net,
upon the freight trHllio of 1878; but few will aUow the amount of
traffic
which has been carried over this line during the
freight
past yenr a' such an InGniteaimal groaa rate of seven ami one-half
mills per ton mile upon all freight transported.
And thia road,
haodling the freight traffic at a coat rate of six and one-half
mills, has bad for its profit, therefore, one mill per too per mile.
Sooner or later thi.'i must and will end, for the traffic of the
country is sufficient to employ, to a reasonable degree, the transportation facilities of all the main Eaet-and-West rival rail lines.
The Saratoga aj;reement of last August, made between many
roads, maritVd an important atep towards the desired end of
securing fair and uniform transportation rates upon competitive
traffic and regulating discrimination.
The advances and payments during the year on account of
leased lines have been
To the Cincinnati Jb Sprlngflrtd Kailway
To the Indianapolis & dt. Louis Railroad
$2-3',S14
6i),153
Total advances
A
801
M
Hprliieaeld Railway On.
mortftg* bonds. CMi,
d Ksllwitv s(|vanc«', rote
t^MOOO
(Mncltinfttl .t -^prtiiufl.-
Dnyfon
t305,3'iT
The advances to the Cincinnati & SpringUeld Railway include
an amount of f 113 573, being settlements on account of property
rni(m Kullway Cm'« *i/m;Ii and Imnds
liM Colninbua Un on Depot Co'a b<>nd>. eoai
dj
do
stock, cMl
,.
Merchnnta Draptlch Co'k (tork, eopt
0<ll.>» 8tnrk Yard C'l's atnck. cot
V Hcloio A lloclcing Vallejr Kailway Co'a bnnda, co«t
I Ohio A MiaaiMlppl (Hprmnaaid Ulvlatoa) bond, cost
Wu
—
:
l.M'.IV
i«,n>
ifc
1«TAI»
S7.«H
„
LOOS
tan
iJKO
d lands, coat
cost
81,771
Ui*al e^-tatf*,
I0.2M
,,,.
Pondletun ytout Qatrry, cost
4,««T
$tt,4m,oit
LUMtUUt.
Capital stock
$15,00i',<>00
and held hy thi' company
Cleveland Columbu* i, Cincinnati Railroad Co. bonds
-.25,001)
falling
due each yenr
f
..
Beilcfontaine It Indiana Railroad Co. 1st marlgage
bonda
I. CO''
nirneri
.
.
.
Cleveland Colambas Cincinnati & Indlanapjlls Railway Co. 1st mongase sinking fnnd bonds ..
Cleveland Ciilumbus Clnr-laust- d! (nnlanapolls RalloayCo. let consolidated mortgage bunda
BUN payabl«
Billai-ndted
New York dividends, nnpald
Balance to anrplns
8,.i00- $14,971,800
ISO.OOO
4!0.COO
I.OOO.OOO
e,Kn,ow
1,580,000-
Mi.m
M»,n$
~^
$22,489,011
ConsoIIdalion Coal Company.
(For the year ending December 31, 1878.)
The preaident and directors submit the followin^report
The SToas receipts from mines, railroads, rents, etc. (inctadlng value
of stock or coal on hand), were
$1,663,803
Total expenses of every kind (exclusive of iote'eat and sinking
fnnd) bill Including iron and tteel rails and all extraordinary
( utlay^, inclading also the
payment of a balance dne for excess
ofraiiroa'i freights cvilected in IS76, and a clalia of the Sate of
Maryland for a Large sum, pending since 1ST2
I,i09,2SS
Net
$aS4.6iS
receipts
Thelntercs* on the funded debt for the year was
Sinking fund (retiring t61,a0uot mortgage bonds...
$171,9)1
3^090
Total intereat and sinking fund for year 1873
Surplus of year's earnings
...
$2^1,062
123,441
From the above sur^ilua of $133,413, the Board has appropriated the sum of $100,000, to be invested f'>r account of einkingr
fund, in consolidated convertible 6 per cent coupon bonds of this
company, due 1897, which bonds are to be issued in accordance
with the circular of January 3. 1879, oGTering new bonds due in
1897. This investment will bring that fund up to the full
amount required by all the obligationa of the company in reference to its sinking funds. The company also holds, aa a cash
aaaet, $100,000 of the first mortgnge bonds of the i'ninberland
Pennsylvania Railroad, redeemed in 1875 by the payment of
$9S,600 in caah from earnings, aa mentioned in previous annual
&
reports.
HININO AND TBANSPOBTATIOH.
and with the freight house of that company,
Mined and delivered from the Consolidation Company's mines
in Cincinnati, during the month of August, 1876.
In the yeir 1877
M'.SSS tona.
4'4,0 S **
To aid in meeting these' advances, consolidated mortgage bonds In the year l!i78
of the company were sold tu an amount of $115,000.
During the
Increase
99.630 ton*.
year, $01,000 of the mortgage debt was redeemed, and the increase
Total transportation of coal on all the company's railroads
of the bonded debt has been $.14,000.
In the year 1877
1 M':.6I( teas.
1,6.0,632 "
The working of the pool with tbe C. 11. & D. RR. Co., between In the year 1873
Dayton and Cincinnati, bus been generally satisfactory. The
Increase
100,936 tons.
Indianapolis & St. Louis Railroad, with ita leased line, has been
The report saya " The preceding exhibit shows an increase in
worked as usual the past year under the management ot an officer
and member of tbi board. Karly in the summer certain litigation the buaineas of the company, and also of the entire region. Considering the unusually active competition of lower priced ateam
arose, to which reference has been made from time to time in the
coals, both foreign and domeatic, the ruinously low prices of
Chronicle.
anthracite, and the continued general depression of buaiDess,
coxpabatits statexznt ot sar<<n(gs and expesses for tbi tkabs
even tbis small increase is an encouraging fact. Every economy1877 AND 1878.
consistent with the proper maintenance of the prop.-rty of the
Earnings.
1877.
1878.
company, in every department, has bean observed. The mines,
Freight
$?,4M,8IM
S!:,(ioi.3S4
railroads, wharves, farms, &c., have been maintained In a condiPassengers
880 SIS
874,66*
tion of thorough efficiency.
Kail
7.\71T
75.649
destroyed by
fire in
:
-
—
Szpress
Rents
74,4<4
*•••
4\M8
Interest and divldenda
10r,838
Total eafnlnga
$3,431,33«
.74,417
4l.8h6
«),b-»
»3,5J8,713
$?43,478
'98,7M
202,711
n.-ilO
HUM*
48.863
180,124
8«,'5»
1711,917
418,888
6>,»98
14.633
64.074
8^«,072
39,278
8.443
84,: 65
SI,!>«1
48,.V10
i66,<96
2511,171
4.4-20
3,:>S1
7.01S
20,711
111,919
5, 65
11603
IS 0,643
(80-09 p. c.) $2,7:0.314 (7S')7 p.c.) $2,i>80,814
17»,'i«
110.019
Intereaton bonds
Total expenses, taxes and Interest
426,677
410,097
t3,.372.45t
tS.Hd.mi
161,501
$237,792
Balance
LKDOXB
898,310
l>4.>i'J4
498:2
Repairs of tracK
Repairs of baildings....
Repairs of fe-n-es ...
Repair* of krldgea
Oil and wa«te
Fuel account
,
Stock dimagi's
Loss and damngea
Oratnltle< and damages.
Balaucecars.rv.ee
Tares
$S4'l,r03
8&'j.l77
14,t4S
Total operating expenses
BAI.A!IC(S
DICULBIB
31, 1878.
Attet*.
Construction
Xalerlala on band
Oashand cash assets
Isdiaaapolls
S80
3n
A St.
do
do
$17,496,697
1IIK«38
S<7,li64
0'A«r aiMtt.
liOuia
&
Santa
Fo— Denrer & Rio
Grande.
A
Sxpefua.
Passenger expenses
Freight expenses
General expanses
Legal expenws.
Tolegrapli expenses
Repairs of lo omntjves
Repairs of pa^nenger airs.
Repairs of Irelglit cars .
OENERAI. INVESTMENT NEWS.
Atchison Topeka
Railway compiny srock. copf
art mortgaste b nds. cost
Kqulpmeni bonds, cost
$300,ro0
468,790
(18,100
Wasbini;too despatch of March 18 says that argument was heard
in the Uuited States Supreme Court in the Grand Canon appeal
suit between the Atchison Topeka & Santa Fe and Dnnver Si Rio
Grande railroad companies. Jud.re Uoar and Mr. Sidney Bartlett
argued for the Atclfison Topeka & Santa Fe C'>inpany, and Judge
Grant and Mr. Lyman S. Bass represented the D.-nver & Rio
Grande. The qneationa to be decid<-d are as followa: (1) Doea an
identity of interes'.B exist between the contea.ing Itnea anfflcient
And (S)
to make a decision on the canon question unnec**88ary f
doea th» Grand Canon belong to the Denver ii Rii Grande Company under the old grant, or doea it belong to the Atchison
Topeka & Santa Fe and other roada under the general act of
Congreaa of 1875 ?
CliiCiigo Clinton Dubnqne & Uinnesota.— Notice la giT«n
that holdera of old bonds and stock who have not yet exchanged
their securities for the atock of the present re-organixed company must do BO before April 10, if they deaire to receive tbe
dividend lately declared by the company.
Clilciigo Mllwankec & St. Paul.— At a directors' meeting a
dividend of 3^ per cent on the preferred stock was declared oat
of the earnings of 1678 on the following atatemeni lor that year :
Gro«s earnings
Gross expenses (inelndlog taxes)
Net earnings
nednct Interest oat d on mortgige debt In 1878
Less Interest and exchange rocciTOd
$S,i51.7»7
4.79'J41S
$3,669.4M
$1,13^.730
11,430—2,122.191
$kt(7,»<
—
^
THE (>HR0N1CLE.
302
Dividend
J
3K
DiT?denYof
argument on the eiceptims
per cent on preferred Btock paid 15th
3>i' per'
cent'on preferred' stock to be paid
mhApril,:8T9
[Vol.
.j^j
«s^9 563
429,781^»53»^m
teiT.SSiO
Balance of nndlvided profits for the year 1978
On this exhibit the World money article cjmmentB as follows
past three years
ThiB Btatemcnt enables us to compare the resnlts of the
CniCASO MU.'WADKBE A ST. PAUL RAILWAY.
XXVUI.
the sale of this road.
to
Justice
Harlan has denied the application recently made to him for a
supersedeas in the matter of the appeal from the order confirming the recent sale of the main line of the Indianapolis Bloomington & Western Railway. This decision, it is reported, will enable
the bondholders to proceed immediately to complete their purchase of the road.
:
1878.
187?.
18:6.
$8,114,894
Gross earninKS
*>oJil'A
4,953,3it
Expenses
Netearningf
Interest.
Balance
7 per cent preferred stock
•
S8.45\;'J7
«4
4,;92,:il3
*?'}2?'olo
i.l61.Q82
$3,574,460
2,140,;71
$i,ti59,451
a,ll.',3C0
$939,765
859,213
$1,433,581
859,813
$1,537,1S4
S5»,564
4,510,
Lafayette Muncie & Bloomi ngton.— The decree of foreclosure against this road fixes the amount of the bonds and overdue interest on the Western Division at $833,055, and on the
Ejstern Division at $3,306,09 J. B ith classes of bondholders. It
is understood, will unite in buying the road.
of bondholders will boApril 33, to modify the reorganization
agreement ; to authoriz:; the trustees to lease or sell the road
and to cUooBJ a new trustee in the place of Alexander Stobo,.
New
York,
;
$1.77,590
$571,37*
8S0-632
brings
that of 18.
The sarplua of 1878, which is over $100,000 larger thanwhea
added to the
adder
ihs company's income account,
balance of the
thecreditbalance
je credit
»,
nj*:
.„
.
___*T^
stock
wil
of
common
hcilders
The
ii^nres of December 31. 1877, to $3,036,896.
dividends, now that
naturally aek how much longer they are to ba deprived of
or
at
bonds
sale
of
constrnctioa
by
the company can raise money for new
of some $3.0 0,near par. New bonds were sold darini; 1878 to the amount
the
to
total
ha",
the
statemeut
of
official
000 ; the bonds are known, but no
bonds sold in 1878,
best of onr knowledge, been made. The consolidated
January, 1S7J.
although market'-d before Julv, carried only the coupon of
of
which eipiaini the absence of Increase in the interest charge, in the face
stock will
common
holders
of
Probably
the
a known increase in the debt.
power
remain at a disadvantage in regard to the compacy'e prolits uuul the
of voting for dlr^tors is taken away fiom the company's bonds.
Sorplns
,
—
Chicago
Montgomery & Enfanla.— A meeting
held in
& Northeasteru— Chicago &
Lalte
deceased.
New
Yorlt Elevated.
—The
boird of
of the
directors
New
York Elevated Railroad Company has decided upon an increase
of the capital stock and bonded indebtedness of the compiny to
the extent of $3,000,000. Srock to the amount of $1,503,003 and
The new sfcuriti-s are offered
$1,500,000 bonds will be issued.
Huron.— An
at par till 31st inst. to present security hollers, subscriptions
It is stated that
to be payable in instalments before July 31
the proceeds of the new isnue are to be used for construction
ac;ount, the principal expenditure being required upon the
The proposed new issue of
Thirty-fourth Street Estension.
securities will increase the capital account to 65,080 shares of
stock, or $6,500,000, and 8,500 bonds, or $8,500,000, making a
ftSBOciated press despatch from Detroit, Mich., March 20, says that
the application for the appointment of a receiver of the Chicago
Northeastern Railroad, which has been argued before Judges
Baxter and Brown, in the United States Circuit Court, during the
The Judges agreed
last three or four days, was decided to day.
that the Chicago & Lake Huron Railroad Company had a first
lien upon the Chicago & Northeastern for the right of way, labor
of employees, &c., and for money misappropriated by William L.
Bancroft, the former receiver of the Chicago & Lake Huron.
The Court ordered that William H. Vsnderbilt file a band
within 20 days for payment of the rightful indebtedness of the
Chicago & Northeastern incurred in construction, and also to
deliver the road in good condition, if, on final hearing, it shall be
foand that the title is in the Chicago & Lake Huron. In default,
a receiver is to be appointed to take charge of all the property
and equipments. This includes the relunding of money inisappropriated from the Chicago & Lake Huron funds for the
The Court also
construction of the Chicago & Northeastern.
found that two miles of the road within the corporate limits of
Flint, and now occupied by the Chicago & Northeastern, legally
belonged to the Chicago & Lake Huron, and receiver Peck was
instructed to take them under his charge. The Flint capitalists
having advanced money to help the construction of the CMcago
& Northeastern, the Chicago & Like Huron bondholders are
estopped from asserting their right in the road, as against the
persons in Flint. Mr. Vanderbilt, in this litigation, has str.-nuously fought the appointment of a receiver, and the decision is a
The order will be made tomorrow directiug
victory for him.
the immediate sale of the Eastern Division of the Chicago & Lake
Huron Road, extending Irom Flint to Port Huron.
&
total of $15,000,000.
The Chatham
Sl^reet
Branch of the road
has just been opened for travel.
& Western.- The resignaiion of Sir
London as one of the re-construction trasteeeAt a direct
is said to have been on grounds entirely personal.
ors' meeting held Thursday in New York, notice was received
from the Park Bank announcing its withdrawal of its suit
New
Yorli Lalie Erie
Elward Watkin
Cinn. Hamilton & Dayton— Cinn. Ham. & Indianapolis.
Julius Dexter has brought suit against the Cincinnati Hamilton
& Dayton and the Cincinnati Hamilton & Indianapolis Railroad
companies, upon two of the bonds issued by the latter company
and guaranteed by the former, to recover the interest due upon
them for the year 1878. He sets out that the bonds were issueJ
in the purchase of the Junction Railroad at judicial cale in 1872,
to the creditors and lienholders of that road, it having been
purchased by the Cincinnati Hamilton & Daytou Company, which
organized from among its directors the Cincinnati Hamilton &
Indianapolis Company, and invested them with the title of he
road; that bonds were executed by the Cincinnati Hamilton &
i
Dayton Company to the amount of two and a half millions of
dollars, of which $1,69J,000 were delivered to the creditors and
lienholders of the Junction Railroad Company, the balance of the
bonds remaining unissued in the hands of the Cinciuuati
Hamilton & Dayton Company.
It is alleged that in January, 1873, the guarantee compiny
caused 2,000 binds, of $1,000 each, at seven per cent, to bd issued,
and the guarantee company, by printed indorsement on the back,
guaranteed to the holder the payment of the principal and
interest of the bonds, which were delivered to the creditors and
lienholders of the Junciion Railroad lo the amount of about
$1,690,000 in payment ol tlieir respective portions of the purchase
money.
Indianapolis Cincinnati and Lafayette.— Mr. M. E. Ingalls,
receiver of the I. C. & L. Railroad Company, has filed his report
of receipts and diabursements durin;; Feiiruary in the United
States Circuit Court. The figures are as follows:
in
against the old Erie trustees for the recovery of dividends
alleged to have been illegally collected. President Jewett has
written a letter, in whicii he refers to the cable from London,
speaking of the resignation of Sir Edward Watkin, its effect
upou the value of the securilies, &c., and saying " that one cause
loans,'
of the dii-trust is that Jewett had applied lor fresh
implying, 1 take it, that I was asking lo borrow money for this
company. I beg to state that the rumor is without the slightest
are not now applying for a loan, nor
foundation whatever.
any occision tois there any reason to suppose that we will have
apply for loans at, any future tim-."
From London we get the following comparative statement
of earnings and workng exponses for November and December
in 1877 and 1878
December
November
'
We
;
.
,
G'OPS cirnings...
WorklEg expenses.
,
18-.7.
18;e.
«1, 570,913
$;,S81,891
853,309
!6J,58a
.
1518.031
$6 8,3)4
,
.
1878.
1817.
$1,165.1-33
1,001,874
$1,S0&,7S8
SlBl.S'iS
$806,7*5
90O,O-J9
a decrease in net earnings for November of $9;),:7-J and fo»
December or $!6.S,^53.
.
•uno'ri
fur the three mon.hs of the fiscal year amounts to $J}0,871.
decrease
The
the
between
signed
been
has
contract
A new telegraph
Western Union Telegraph Company aid the New York Like
Erie & Western Railroad, by which the former has leased the
The terms of
lines of the latter for a term of twenty-five years.
the contract specify that the Western Union company is to have
exclusive use of all the wires of the railroad company in lieu of
making all needed repairs to the telegraph lines and transmitting,
—Showing
,
.,
,
,
.
Although
free of charge, all messages of the railroad company.
the leas3 is for twenty-five years, it is subject to cancellation on
'The contract does not interfere with the right
six months' notice.
of the railroad company to enter into combinations with other
companies.
New Yorli & Osweso Midland.— A basis of agreement having
b-en arranged among the conflicting interests of the different
classes of creditors of this company, and a decee of foreclosure
having been entered, the sale of the road, its franchises. &c., is
noiiced to take place on the 28th of June next. (See notice of
to take
sale in another column). We understand this sale is sure
place according to notice.
Pittsbnrg City Bonds.— The new Pittsburg loan o! $1,405,000 for payment of overdue iuterest on the Pittsburg 7?, known
city.
as the Pena avenue bonds, has all been subscribed iu that
The announcement is also made that $1,300,000 wJl be sent by
April 1st to Townsend,
Whelan &
bondholders their overdue
Co., of
Philadelphia, to pay
interest.
St. Louis Iron Mountain & SontherB.— In the United States
Court at St. Louis, the injunction granted in the suit of Baring
Bros, has been vacated and set aside, except as enjoining the
DI9BDRSEXENT8.
Balance Feb. 1, l?7i)
$9,010 Paid loans
company against holding an election lor directors before April 2.
$86,600
'
45
fwr steel rails
From loan-*
2r,'i40
" bond
'•
Sntro Tunnel.— The long contest between the Sutro Tunnel
sales old rails and strap
7.*.17
interest
li,815
" rents
"
rents
4,91)3
Company and the mining companies of the Comstock Lode was
7,318
"
'
293
interest
taxes
7,858
finally concluded March 18, when all parties interested gave
" iuterest
"
United States irail
378
279
'
their adhesion to articles of compromise that will be ratified as
*•
express companies. ..
2.231)
for enppliee
22,081
" saltiries. wages,
"
BDOo as received from the printer. A despatch to Kierniu's Wall
agents and couductois. 9a,17i
&c
41,1.'6
**
"
other railroad ctimpjn(or legal expenses
7i5
Street News Agency said that the Su'ro Tunnel Comoany hag
" insurance
ies (balances)
11,8S9
619 consented to a reduction of $1 on all ores assaying $40 p^r ton
" railroad balances
From mi'cellaneous sources..
3,497
34,803
" mlsc's bills
and under. Oo all ores of $40 ner ton and over the $3 per toa
Balance Feb. 38, I8'.9
303
and vouchers
5.019
Lloyd Tevis, president of Wells,
royalty asked at first remains.
$189,343
$169,343
Fargo & Co., has been the arbi rator between the Sutro Tunnel
Indianapolis Blonmington & Western.- The United States and the Comstock mining companies, and through his exertions
Court at Springfield, III., has appointed March 81 for hearing the compromise was effected.
,
.
.
.
MAKcn
:
:
1
THE CHIIONICLK
23, 1870.)
^hcJCjTcnuiuci'citil
803
O O TT
^imcs.
ON,
FniDAT, P. M., March 2!. I87f.
Chop, as Indicated by our telograma
from the South to night. Is given below. For the week aadlac
this evening (Mar. 21). the toUl recalpU h«ve roMhed
«0,mI
FRtOAT NiuiiT, March 31.
balea, agidnat 78,400 bales last week, 88,206 bal es the
prvrlooa
There bai been more aClvHy to general trade the past week, week, and 110,047 bales three weeks since; making the
total
but in moat caaea at aame reduction in pricen, the apecu'atlTe r<."ceipt.s since the Ist of September, 1878, 4,058,522 hales, agalnat
3,827.9S3
bales
for
the
same
period
of
1877-S, showing an IncreM*
advance in cotton bain/; qaite exceptional, Uoeaaineaa in the
since September 1, 1878, of 230,534 bales. The details of
tha
mone7 market, and dearer rates for loans of all kinds, have receipts for this week
(aa per telegraph) and for the correspondlac
caused holders to rather press] sales of staple products, and the weeks of four previous rears are aa follows:
result has been as we stated, that a lower range of values has
Receipts this w'k at
1870.
1878.
1877.
1876.
1875.
b«en ac.-epted. The weather has been cjld and somewhat uaseaNew
Orleans
10,921
25,836
10,720
28,719
onable, snow having fallen In middle latitudes and very little
12,078
Mobile
4,682
8,0fl3
3,475
4,006
3,642
profcres.s made in tliu resumptioa of inland navigation.
Charleston
3,068
4,228
1.665
2,908
4,03«
The general provision mirket his shown more firmness dun- Port Royal, Ac
1,202
367
21
prices have been stimulated by a specula- Savannah
ing the past week
4.488
9,251
3.211
3,230
3,wr
Oalvoaton
4,10.5
8,016
3.441)
.5,518
tive spurt at the West, which has been partially recognized
5,904
Indlanola, &o
132
46
27
118
18S
here, the movement during the past few days beinj; quite fair.
Tennessee, Ao
13,065
10,227
3,106
8,158
8,632
To-day, pork met « ith a lair sale at $0 40@9 50 for old, and Florida.
1,781
138
291
06
196
March quoted at North Carolina
$10 00@10 75 for new mess, on the spot
1,144
3,166
032
1.106
2.160
Norfolk
6,527
6,693
flO 30(dl0 70, and April flO 45:il0 50; May sold at |10 55
4,742
7,725
9,854
827
1,091
381
368
104
and flO 60. Bacon was firm at 5{c. for long and short clear, 5ic. City Point, *o
for short clear, and 5^($5tB- 'of loo? clear.
Lard was steadily
Total this week
60,202
75,723
32.366
62,933
50,186
prime city sold at C'60c., No. 1 do.
sustained, though quite'dull
Total since Sept. 1. 4,058,522 3,827,938 3,700,692 3,697,701 3,157,200
at 6'30c., prime Western at C'65c.
April sold at 6'65c
May
The exports for the week ending this evening reach a total of
at
and June 675@3'77ic. reficed for the Continent sold
89.678 bales, of which 57,878 were to Great Britain, 1,153 to
at 7c. Beef has had a somewhat better sale of late at steady
France, aud 30,642 to rest of the Continent, while the stocks aa
prices. Beef hams are a trifle easier at |18 00@18 50 for Western. made up this evening are now 579,333 bales.
Below are the
Rio ccSee has been somewhat irregular aui not overactive, but stocks and exports for the week, and also for the correspondioj^
week of last season
latterly the tone strengthened, and the closd is Brm at 10i@10j^c.
tor ordinary cargoes, and ISJc. generally asked for fair do. Mild
Week
KXPORTED TO—
STOCK.
Total
Same
ending
this
Week
grades have been quiet, and though without positive change,
Oreat
ContiWeek.
1878.
1879.
Mar. 21. Britain. France. nent.
1878.
Th« MovBtcaNT or thb
CO MMERCrrL EPITOME^
;
;
.
. .
;
;
dlUc
,
;
prices are only barely steady.
New
Orleans molasses selling
29,977
42,82.5
and steady at 28®40c. for common to choice, and 42c. for N. Orrns
62,844 236.830 271.177
12.843i
l,900l
1,900
2,810 36.307 45,724
very faccy. Foreign rather lower, with 25e. accepted for 50-te9t Mobile..
Ohari'fn
1,156
5,799
0,955
9,010 19.770 31,443
new boiling, but the decline has increase! busiaeas somewhat Savan'h.
9,102
9,102
20,415 27.235 50,123
Rice has found a continued good demand at well-sustained Oalv't'n5,706
1,075
6,781
5,000 28,905 52,614
values.
Raw sugars, in an irregular manner, have sold to a very N. York.
2.(>9o
83
323
13,701 180,008 151,797
3,106
Norfolk14,968
14,968
986 15,021 19,633
fair extent, mostly the low grades
refiners, however, were careOther*..
3,370
....
665
4,041
9,003 29,000 45,000
ful consequent upon the slow movement of their product, and
would not bid in excess of former rates fair to good refining, 6J Tot. this
week..
57,«78
1.153 30,642
89,678 124,407 579,222 667,411
^^c, and centrifugal 0i<a71c., the latter a little extreme; reiined
Totsinoe
in moderate demand at 8Jc. for crushed, 8f(38ic. for granulated,
Sept. 1. 1640,970 369.315 818,431 2823,716 2577,933
Mid8@8ic. tor white A. Teas slow, and oa grte.is a trifle weak.
• The exports itiu weeK under the nead of
"other port*" Inclarte, from Baltv
Kentucky tobicco has ruled very firm in fact, so firmly held more,
812 baleg to LIvernoo', an 6tJ5 hales to Gonllnont; from Boston,
fairly
;
;
;
as to check busiaess.
Sales for the
1.0^
i
week are only 450
hhds., of
bajei to Liverpool
from
;
Ptallalelplilii,
831 bales to Llrerpool.
From the foregoing statement it will be seen that, comparad
which 300 for export and 150 for home consumption. Lugs
with tho corresponding week of last season, there is a d«ere<ue
quoted at 3(£4|c., and leaf, 5@12c. St>ed leaf has also remained in the exports this week of 34.789 bales, while the stocks to-night
qniet; the only sales were 325 ca^es Pennsylvania,
Sic
to 18c
crop 1377,
New
Eogland, crop 1877, 9c. to 30c.; and 100
do. sundrie!>, 7jc. to 30c. Of Spanish tobacco 'he sales em
braced 400 bales Havana at 88c.@|l 10.
Ocean freight room ha3 been moderately taken daring the
past week
increased arrivals, however, have caused some
irregularity and weakness in rates.
Lite engagements and
charters include: Grain to Liverpool, by s'.eam, 6@0ld.; cotton,
7-33@Jd.; provisions, 379. 6d.@303.; grain to London, by steam,
6i(361d.; flour, by sail. Is. 7id.; grain to Hull, by steam, 7J., 00
lb«.; do. to Bristol, by sail, 6}d.; flour, 3s grain to Larne,4i>. 7id.
perqr.;do. to Plymouth, 48. 6d.;do. to Cork for orders, 49. 10^1;
do. to Bordeaux or Antwerp, 58.; do. to Danish port, 5a.; refined
petroleum lo Hamburg, 3?. 8d. per bbl.; do. to the Continent, 33.
;
100 do.
are 88.189 bales less than they were at this time a year ago.
In addition to above exports, our telegrams to-night also give
us tlie following amounts of cotton on shipiward, not cleared, at
the ports named.
add also similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yala i
Lambert. 60 Beaver street
We
On 8hlpl)oard,
;
;
6d.; do. to the Baltic,
Dunkirk,
to
33.
Gd
;
,38.
9d., do. to
alcohol
lo
Rotterdam,
Trieste,
Ss.
43. 9d.
3d
crude do.
To-d«y, a fair
;
business was done; grain to Liverpool, by steam, 6d.
do. to
London, by steam, 6id.; do. to Glasgow, by sail, 4j. 3d. per qr.,
and flour, 38.3d.; grain to Cork fororderi<, 5B.;oata to St. Nazaire,
;
Hd
naphtha
or Antwerp, 3a.
63.
;
The naval
to L-tndon, 3s. 91.;
March
NewOrieans.
market has presented a dull and uninteresting
appearance until the close, when rosins, particularly the lower
grades, were in good export demand
5,000 bbls. good strained
were »old at fl 40. Spirits turpentine was well held at 29ic.
Pet'oleum baa been dull and quite nominal until to-day, when
10,000 bljU. rrflned were sold here at 9c. Lead declined to 3 10c.
for common domestic, but at the close 300 tons were sold at
3'30c.
Steel rails are very firm, the mills being supplied with
orders for the next six months or more sales reported of 3,300
tons on the basis of $45 at tide-water. American and Scotch pig
irons have latterly been quiet, but all prices are nevertheless
maintained with firmness. Ingot copper remains steady and
quiet, at 10c. for Lake.
Clover seed in moderate demand at 0(0.
lor prime Western per lb. Whiskey nominal at $1 00.
,
;
not cleared— for
Other
France. Foreign
Liver-
/
pool.
6,.500
700
2,820
None.
4.3.50
Other ports...
26,000
8,303
1,290
4,000
8,292
1,500
12,000
Total.
61,450
19,250
Mobile
Charleston...
Savannah
Oalveston
New York
9,000
930
7,800
1,763
400
None
Total.
Stock.
2,000
125
1,000
66.250
17,568
8,585
12,800
170,500
18.79»
11,191
wise.
29,500
None.
Leaving
Coast-
1
.7.50
14,4.55
2,3.53
13,34:i
1,000
None.
2,000
•2,100
15,000
15,622
183.903
29,021
45,518
9,228
135,646
443,493
Inoluilml In tills noiouiit there are 200 balm at PreiMoa tor forolga
porta, the du^tiaatinn of whloU we cannot learn.
*
The following
is
our usual table showing the movement of
1 to Mar. 14, the latest mail dates:
cotton at all the ports from Sept.
BXPORTBD SINGS
BBCBIPTS SINCE
SBPT.
POBTS.
reUned petroleum to Bremen
store
at—
21,
1878.
1.
1877.
Oreat
TO—
Stock.
TotaL
478,616 139,366 274.750 942,732 256,798
02,001 37.908
37.367| 28,547J 27.077
140,532 54,212,155,011 350,385 23,708
179,660 23,610 210,591 413,807 34,057
190,743 57,133 01,235 309,216 38,596
186,069 10,463 21,444 217,981 183,750
12,263
1,967
10,296
4,000
63,456
42,817
2,050 18,589
160,535
713
3.838 169,156 37,900
14,554 170.961 83,000
136,407
N.Orlns 1066,619,1229,315
Mobile. 335,439 372,708
Char*u'
493,414 427,371
Sav'h.
054,502 535,696
Galv.518,821 403,719
00.00.".
N. York 127,614
Florida
49.374
12,593
N. Car. 128,170 127,070
Norfk* 482.720 433,618
Other.. 143,597 119.534
:
rhlsyr. 3998,320
SKPT. 1
Other
Britain. France. Forei^
]l583,092 363,157,787,789 2739,038 630,207
I
Lastyx.
*
3752,265 1517.611415.629 920.226 2453.466 721^08
Uoder the head of dkarlnilon
Is
laoladed Port Boyal. *e^ andar tM Mad Of
th* bead »C JKw/Mk ti l»ol«4»a at(
OolMMon U loolacei inQlaaela, Ac.; oater
Palat, Ac.
.
..
THE (JHKONICLE.
304
at times excited market the
Spots advanced l-16c. each day from Saturday to
Wednesday, with a good business for home consumption and
.speculation. Yesterday there was a fair general business at
steady prices. To-dav, the.-e was an advance of ^c, to lOJc for
middling uplands, which cut off the demand for export and
speculation but moderate sales were made for home consumption. The speculation in futures has been strongly towards higher
Liverpool advices continued much in favor of holders,
values.
and parties who had held off in expectation of lower prices, at
•which they might cover their contracts or purchase for the
advance, were forced into the market and compelled to accept
the terms of sellers. There was much excitement on Tuesday
and Wednesday, with sales on Tuesday of 113,800 bales and on
Wednesday of 133,(:00 bales but on both days there was re-action
against the higher 6gures, especially for the enrly months. The
speculation has extended to December in the next crop, and
lias shown increased activity for September and October.
The statistical position and the smaller receipts at the ports conThe
tributed to the buoyant influence of the foreign advices.
concentration of stocks at this port, where they are generally
Yesterheld out of the market, is another element of strength.
day there was some decline, under weak accounts from Liverpool, but there was an early recovery, and finally some advance
on the closing prices of Wednesday. Today, with very favorable Liverpool accounts, the market was again buoyant, prices
advancing 8@17 points, the summer months and September
showing the most improvement
The following will show the range of prices paid for futures,
and the closing bid and asked, at 3 o'clock P. M., on each day in
the past week.
We have bad a very buoyant and
past week.
XXVIIL
[Vol.
total sales foot up this week 4,9 13 bales, including 25 i for export,
in transit.
Of
2,757 for consumption, 1,901 for speculation and
The following tables show
the above, 4iO bales were to arrive.
the official quotations and sales for each day of the past week:
—
NEW ORLEANS.
UPLANDS.
nion Tnes
Mar. 15 to
M.tr. 21.
Sat.
Ordin'y.^B)
Strict Ord..
Good Ord..
8i8
8>2
83l6
9
91,8
9oi8
99l6
TEXAS.
OTon Tues Sat. non. TneB
Sat.
;
8tr. G'd Ord 9H
Low Mldd'K 9Ja
Str.L'wMld 91il8
;
Futures]
Saturday.
inonday.
Xaesday.
Market.
Higher.
Higher.
Higher.
For Day.
May
June
..
.
.
Bid.
July..
August.
Sept'b'r
October
Nov'bci
Dec'ber
Tr. Old.
Closed
—
Ilifjfi.
Low.
Bid.
Ordin'y.f
9II16
9^8
Thursday-,
Friday.
Variable.
Buoyant.
May.
1016
Sept'b'r
October
Nov'bor
Dec'ber
Tr. oTd
Closed.
To 2
—
14; table of prices,
insert it below:
For Day.
—
43
56
63
47
24
08
06
For Day.
.
May... 10-05- 9-97 10-03
June . 10-19-10-13 1017
.
10-30-10-23 10-28
July..
August 10-38-10-38 10 30
Sept'b'r 10-20-10-17I10-18
October 9-98- 9-98 9-97
Nov'ber
—
-
Tr. ord.
Closed.
Tulurcs
—
For Day.
March
" s.n,
April
.
May...
June
.
July..
August,
Bepl'b'r
October
Nov'lier
Tr. ord
Closed.
*10"01.
The
—
High.
9-749-729-89-
Middling
Tbnraday.
For Day.
10-28
10-47
10-05
10-78
10-87
10-69
—
—
10-10-10-15 10-16 18
10-12-10-12 10-11 13
10
Mon
Tues
Qul()t,st'dy,liighr
Wed
Firm, higher
Closing
Low. Bid. Ask
9-76 9-76 77
9-73
9-88 9-90 91
10-09-1004 10-07 OS
10-2-4-10-20 10-22 23
10-35-10-32 10-33 ii4
10-42-10-40 10-4142
10-22-10-22 10-21 24
9-99- 9-99 9-99 *
High.
9-799-739-92-
Friday.
Higher.
Closing.
For Day.t
Closing
— —
—
-2
P.M.
forward delivery for the week are 603,600
'
free on board.
For immediate delivery the
total sales for
'
bales, including
"
'
To
"
"
89,6
810,6
9"io
911,6
915]
H',0
813,6
8"l6
818,,
^913,6
lOia
1014
10=8
lO's
Ilia
1212
10%
1012
10%
1138
1238
raon Tues
8I4
85,
811,6
8%
8i--.,8
9-'l«
914
99,6
95,0
958
9»,8
99,6
913,0
Frl,
89,6
815,6
9'']C
911,0
915,0
10
10%
1018
1013
1034
1138
1£38
1014
105s
lO'e
1112
12>3
WeA
Th.
Frl.
838
838
8'8
938
911,
Shi
938
911,
9
91a
913,c
SALES.
Fri.
210
216
560
425
555
791
339
365
517
410
270
!,757,
1,901
254
Thurs Quiet and steady
Firm, higher
.
2541
Total
FUTURES.
DelivSales.
eries.
13,700
200
270
200
300
300
100
4,912 603,000
1,376
549 65,100
581 91,500
1,077 11-2,800
835 128,300
1,079
791
92,-2O0
1
For forward delivery, the sales have reached during the week
60b, 600 bales (all middling or on the basis of middling), and the
following is a statement of the Bales and prices:
For May.
Cts.
8-78
Bales.
l)-83
800
»85
100
200B,n.'7th 9-8S
3,100
l(]0 8.n.l8tll
100,
7U0.
100.
200.
\
,
500
,
BOO.
I-
200
...
1,000
100. ... ..
200 B.n. 19th
300 s.n, 20th
1,300
3,100
100
9.500
4,80l
5,800
14,900
3,800
1,000
9,300
UVi
13,6-
H-93
9-93
4.400
H04
3.-i00
9-96
9-n5
6.700
7,900
8,600
9,000
7,600
1,700
1,8«0
9,400
3,800
9,000
13,500
7,900
4,000
1,000
2,200
1,000
«-M7
908
8.11. -^ad.
1003
600
800
10-03
100 B.0.2OU1 10 04
100 e.n,2:d, 10-04
100 e.n.2id. 10-05
1008
200
100?
100
10-08
700
10-09
1,000
lUJsu.'/JUUilO'lO
1010
1,000
10-!1
1,300
1012
1,100
10-13
200
10-1)
900
10- 18
1,000
For
April.
8,«00
903
700
Oft-)
9-9B
9-97
2,(100 ....
3,100
....
99^
900
15,100
100
...
9-9-1
....
....
1000
10-01
10-12
2,400
17,910
1003
1004
1005
3100
8.700
8,800
2,600
4,300
10-06
10-07
10-08
10-09
3.700.
2.900.
.1010
1011
2,H00.,
1012
2,800.
10-13
10-14
600.
S.OOO..
2,200..
5,400..
B,800.
10-15
1016
4,300
»,900
1,700
10-17
10-18
..,10-10
10-20
I,-iOO
10-21
400
10-<'2
5,000
6,500
4.000
1>200
10-41
10-45
10.4S
10-47
10-48
5,200
4,800
6.300
100
209,700"
200
900
3,V0O
2,200
2,100
1,200
8,100.
..
..
l"-23
10-24
...10-35
10-26
10-27
4,0e0,.
200
1034
1,200
6,2C0
6,700
10-35
10-86
8,000
8,700
100....
200
3,200
3,900
6,500
2,000
2,rt00
8,100
6,800
5,000
2,500
1,50«
200
1.400
2,400
100
100
100
100
200
600,
800..
100,
10-69
200,,
10-50
1051
400
400
10-52
1053
10-54
10-55
300
10-51)
2,800
4,-00
10-69
10-60
2,B0fl
10-61
1002
...1063
2.400
2,400
1,100
1,600
200
2,-,i00
..
....10
.
,
Ko notice Uarcb
100
16th,
100
660..
9-H3
9-94
9-98
9-99
lO-OO
10-01
10-08
10-05
10-06
10-08
10-(i»
10-10
10-11
10-12
lfl-l»
;
1015
lOlB
,800
For December.
10-81
I
10-87.'
10-20
10-41
,000..
73
For September,
10-31
10-33
10-34
10-8S
10-40
»)«,,
,...10-75
....10-76
,...10-78
10-81
10-K3
10-84
10-85
10-86
10-30
100
...10-70
...10-71
....10-73
43,100
;o-64
10-',j9
eoo
100
108b
I
10-2.1
10-27
.1088
1,000
1,300
10-1)5
10-66
10-67
I
10-21
10-28
For November.
10-,'6
10-57
10-59
10-60
10-61
10-62
10-61
200
,.10-49
10-16
10-17
10-18
8,700
700
900.
1014
100
1,400
2,700
1,300
700
600...
4,100
2,700
10- iO
400
600
10-43
10-48
10-45
..10-4»'
..10-47
. 10-48
10-04
10-OB
400
10.41
.
9-9B
1002
100
100
10-53
10-54
lO-fo
1,000
2,000
100
8,800
10-68
10-69
10-79
600
SOO
10-."-2
600
100
800
.10-44
4,600,,
B,300„
2,600
1,200
2,800
8,600
900
l.OCC
1,800
10-3S
11-30
10-40
10-84
100
100
100
100
10-44
10-48
10-50
10-51
1,000
.10-87
10-5<t
1,000
1,500
SOO
10-^5
10-28
10-20
10-30
10-31
10-33
10-33
SOO
800
600
10-'4
10-55
700
55,700
,10-24
10-63
For October.
For AagoBt.
2,800
1,100
10-50
10-.52
200
100
400
600
600
400
BOO
10-64
10-65
10-66
10-67
10-08
10-69
10-73
10-74
10-75
10-76
10-77
10-78
800
600
10-47
9,000
1-63
4,41*
10 4«
....!0-4»
800
800
100
100
100
10 55
10-:«
10-57
10-5S
10-59
10-60
10-6;
3,900
4,700
8,700
10-44
10-45
l.reo
,10-54
300
SOO
800
10 38
100
800
10-50
10-52
10-58
600
500
10-33
10-34
10-35
10-38
10-37
10-88
10-39
10-40
10-41
6,3n<>
10 40
2,300
1,900
2.700
1,100
2,600
1,900
1
10 31
10.sa
10-«
1043
10,86
10-40
10-41
10-42
10-43
10-44
10-45
10-48
8,900
2,600
1.800
1,000
10-27
10-28
10-29
10-80
5,900
7,400
2,900
V,40O
132 HKi
4,000
• ^u notice this \reek.
t
8.800
10-^0
10-21
10-22
10-23
10-24
10-25
10-26
10-30
10-81
10-33
10-3S
700
900
600
500
400
800
100
SOO
200
100
111-37
SOO
400
500
1019
«:i6.
10-!>7
1,000
1,000
Fof Jane.
21,300
loo
100
600
200
10-15
600
.
Baled.
For July.
10-16
10-17
10-18
1,900..
9-9fl
1,800..,
115,000
lOlH
1014
100
8-8B
9-88
b-SO
8-B8
H-DO
9-»l
CV.
10-05
Bales.
rtn.
10-09
10-10
fOO
9-98
2,300
lOOa.n.ajd. 9-99
10-00
100
1001
100
Stron
For Day,
115,6
125i6
12 14
Frl. Tl^ed XIi.
I
9%
10111,5
11'4
113,6
123,6
12'>,6
Con- Spec- TranTotal.
port. sump. ul't'n sit
Dull, higher
Dull, higher
-
Ask High. Low. Std, Ask] High. jA)te Bid. Ask
9-74 75 9-75- 9-74 9-74 75 9-83- 978 9-83 84
9-74- 9-72
9-80- 9-77
9-87
9-87- 9-86 9-86187 9-9-2- 9-88 9-92 93
1000-10-04 1004 05 10-04-10-02 10-0304110-10-10-07 1009 JO
10-2110-19 10-19 20 10-20-10-19 10-18 19110-25-10-22 10-24 25
10-32-10-30 10-31
10-32-10-31 10-30 31 110-38-10-34 10-36 10-40-10-39 10-39 11 10-40-10-39 10-38 39 10-44-10-43 10-43 45
10-24-10-20 10-22 24 10-2310-22 10-20 22 10-2.5-10-25 10-24 20
9-96- 9-95 0-95 98 9-90- 9-90 9-94 96 9-98- 9-98 9-9S 109-85 87
9-85 90
9-75
9-:
9-85
Qnlet. Btea<l,r.
Dull.
Finn.
t
1133
1238
115,8
8%
9I4
9I2
,2;^ic
101,6
107,6
Ex-
Sat.
48
.Bid.
.
10%
tiha
I
SPOT MARKET
CLOSED.
Closing
9-80
Steady.
Flat.
Closing.
Low.
9-72
9-68
9-87
lOifi
1012
Sat.
Low Middliiig.
9,100.
9-80
Firm.
Lower.
10
<p lb
For March.
Firmer.
Closing.
—
—
'W^ednesday.
Market.
1138
1238
STAINED.
KWs.n
Tuesday.
Low. Bid. Ask
9-73 9-76
9-69
9-88 9-90 91
01 10-07-10-04 10-06 07
18 10-21-1018 10-21
30 10-32-10-29 10-32
38 10-40-10-38 10-39 41
21 10-20-10-20 10-20 22
9-98 10
99
9-85 90
9-75
Steady.
1018
lOlo
1031
1138
1238
10%
Good Ordinary
Strict Good Ordinary
Bales.
79
88
VI
10-41-10-.38 10-4143
Firmer.
Closing.
Bigh. Loio. Bid. Ask High.
March 9-75- 9-70 9-73 74 9-77" s.n. 9-69- 9-68
9-72April .. 9-89- 9-83 9-87 88 9-92-
.
10-48-10-40
10-65-10-59
10-78-10-74
10-87-10-81
10-70-10-68
nonday.
Firmer.
Market.
10
11214
of Futures teas omitted, and we therefore
Saturday.
Tutures]
913,6
913,,
10
1214
(week ending March
otersight, Inst week's
<&e.,
95,8
99,8
913,6
10%
P. M.
Through an
.
— 10-27-10-22
10-32 33 10-36-10-28 10-34 35
10-48 49 10-5'i-10-43 10-51
10-61 62 10-65-10-5' 10-64 05
1008 69 10-72-10-65 10-71 73
10-52 53 10-5.5-10-49 10-.54 55
10-27 29 10-31 10-27 10-30 31
1010 11 10-12-10-08 10-07 08
10-04-10-03 10-03 01
lo-io-ioio 10-05
10-10
1010
Barely sieadv.
Steady.
10-41-10-32
10-56-10-48
10-69-10-02
10-78-10-68
10-56-10-54
10-34-10-28
10-16-10-11
Jime.
July...
August.
813,1
?^«
9»,8
10 12
OS
—
..
813,6
1033
10=8
11>4
Big^ Lotr. Sid. Ask LTigh. Low. Bid. Ask High. Low. Bid. Ask
10-15-1008 10-08
10-10-10-06 10-09 10 1018-10-18 10-24
-.
»
For Day,*
Closing.
" s.n. 10-10-10-04
9-99- 9-98
A_pril.. 10-21-10-13 10-14 15 10-17-10-10
She
95,6
9»,8
9%
915,6 913,6 9 •'8
lOli
915,8 10
101,
105,6 1038
101l,„ 109,6 1058
1038
1058
III4
12 14
813,0
10
•
March
978
87l6
Str. G'd Mid lOSs
Midd'g Fair III4
Fair
911,,
10
»'18
0'',8
Low Midd'K
Str.L'w Mid
Middling...
Good Mid..
10-05
Firm.
^.xclted.
.
8»I«
811,8
93,6
Good Old..
Str. G'd Ord
9';,o
838
811,6
93,6
9"l6
911,8
01
!
Wednesday.
For Day.
1
8 14
858
9I3
933
9I4
91«
934
93,0
Wed Th.
Th. Frl.
fl)
Strict Ord.
Ask
10-03- 9-97 10-00
9-95- 9-95
10-10-10-02 10-07
10-28-10-20 10-2t;
10-45-10-36 10-42
10-56-10-18 10-55
10-b3-10-57 10-62
10-47-10-38 10-45
10-2.3-10-16 10-22
10-0e-10-00;10-06
10-03-10-00 10-04
Market.
Closing.
im
1218
WeA
Closuig.
mtures
For Day.
913i6 9'8
103is 104
107:e 1012
12118
811,,
9=8
913,8
91»16 915,,
10S,8 105,8
109l6 109,8
llSie 113,0
123i6 123,8
9%
Midd'g Fair llhs
Fair
9%
8%
8%
8",8
SALES OP SPOT AND TRANSIT.
For Day.
Closing,
—
.
.
For Day.
Good Mid ..
G'dMid
3tr.
8>4
858
918
938
9=8
913,6
MAKKKT AND
Aik High. Low. Bid. Auk
9-98- 9-93 9-98 99
9-92
9-95- 9-95
9-99 1004 05
10-051000- 9-95 9-98 99
1017-1013 1015 10 10-22-1016 10-22 23
10-38-10-32
10-38 39
10-33-10-28 10-31 32
10-44-10-40 10-43 45 10-50-10-44 10-50
10-.-)7-10-52
10-58 59
10-52-10-48 10-51 52
10-31-10-2' 10-30 32 10-38-10-33 10-38 39
10-14-10-10
10-14 16
10-06-10-02 1004 05
10-01- 9-98 10-01 03
9-9493
9-97- 9 97 10-00
10-00
9-93
Strong.
Ste.ad.v.
High. Low.
9-94- 9-88
9-86- 9-86
March
" s.n.
April
Closing,
Middling...
8I4
358
8i>16
100,
200,
100,
SOO,
1001
600.
10-02
10-03
ion,
10-04
600
1010
800.
I
1
9-9J
10-00
)i.2UU
Wli
.
:
Mabch
1878.
i!3,
THE
>
(JHllONKJLE
Tlie following exchanges have been made daring the week:
1« pd. to oxeh AM A prtl for Mat.
1 pd. to Mch. sno A prti for Oct.
ISliil. toucR. too April for Mar'lopd. lomch. 100 Jiilr tor Aug.
•17 pU. t« rxrb. 700 ^-iit for .lunp.
0(1 pd. to axcb. 100 March •. a. IMth
pd. to <icb. 4IM April fur .lime.
for mioUr,
Thb Visiblb iSurrLY op Cotton, as mado np by cable and
telegrapli, Ib as follows.
The Continental stock!) are the (igiirea
of laxt Saturday, but the totals for Utoat Urituin and the afloat
for the Continent are this week's returns, and consequcmtiy
brought down to Thursday evoning; honcn, to mnkn the totals
the complete figures for to-night (Mar. Si), we add the item of
exports from the United States, including in it the exports of
Friday only:
1870.
1878.
1877.
1870.
Stock at LlTerpool
507,000 730,000 1,070.000 777.000
Stock at London
U2,000
9,000
VO.OOO
01,500
'
1
'
I
I
Total Oreat Britain atook
Stock at Havre
739.000 l.OOfi.OOO
278,000
104,000
5,000
3,000
28,030
64.000
7,000
13,000
35.750
51.750
38,.500
75,230
10,500
10,000
6,500
6,750
7,730
11,500
83S,50O
415,000
432,250
477,000
036,000 1,134,000
167,000
601.000
1,.323.2.30
1.31.3,500
139.01)0
(12i).000
170.000
a, 000
Stock at Marseilles
Stock nt Barcelona
Stock at Hamburfc
Stock at Bremen
Stock at Amsterdam
Stock itt Rotterdam
Stock at Antwerp
4-2,750
4,500
23,500
43,750
8,750
3.730
6,000
E>took ut other oouti'ntal ports.
307,000
Total continental ports
raawtm raon
ixairraTunw,
.
:
»
30o
210,2.->0
4,500
04,000
18,500
47,000
52,250
17,2.'>0
13.750
19,500
WMk
BwaipM at th«
end'K-
1877.
Jan.
115,U8
m^
Stock at Inter'r Fort* RM'pt« from Ploal'M.
Porta.
mi.
1«7.
187>.
1(178.
inv.
10.
ioi,m
I4S.0IW
I4},1U iwjoe tu.«8( 1«1.6S4
»l,0tl «),0a? <86,S«I 963,M1
"
17.
IIS.OIS 158,TOr
118,618 814,067 837,880 i83,94>
'•
««.
I0H.I47
•'
"
S.
lUMi
148.M'
»1.
1B9,1H
I«7.0W imjHO S14,4»4
Peb.7.
••
"
iio.ooa 187,188
111.003
14.
lS0,7iU 190,080
81.
631,068 100,736
t74,9n 183,101 1(0,766
114,^98 i:3,4;8 9J6.6!» 18a,«W
88,«I5
94,84.1
110,0i:
•J\',ii
<»,<H'
44,587
Si,iH4
7!,7ia
" W.
Mar. 7.
" 14
••
1(6,088 iiU,Ola 118,886
21.
lit;
840,^08 9l«,tl7
160,641
wn.
I08,::f.
IBTB.
vn.
iiTnii
74,»M 199,161
fMM
108,066 164,814
(0.4*9 168.1M IttiWr
1S5.68« i8t,««7 tiMtr
187,1
188M8IM,1M
116,481 119,188
6ii,Beft
108,818
173,178 910,896 I»l;4a8
8e,8l6
;8,tlW
84,166
I69.9II1 I8J,466
1«3,61»
4fc,8S6
79,457
78,44T
78,4110
166,747 169,63A 168,418
40,(D6
68.486
n.9«>
60,H0«
ifj.04lll4«.it;8 141,619
J4.'l6i>
B<.74«
4i.a8«
The above statement shows —
.
1. That tho total receipts from the plantations since Sept 1 la
1878-9 were 4,101,483 bales; in 1877-8 were 8,058,159 bulea: in
187ti-7 were 8,8iO,807 bales.
2. That although the receipts .at the out ports the past week
were 60.202 bales, 'he actual movement from -plantations wa»
only 42,390 bales, the balance being <lrawn from stocks at tho
interior pons.
Last year the receipts from the plantations for the
same week were .53.740 bales, and for 1877 they were 34,060 iraJea.
Weatiibr Reports b? TEi.KORAPn.—The weather the past
week has been seasonable rain has fallen in many sections,
though in some places more would be acceptable.
;
Tot.ll
European stocks..
..
India cotton atfoat for Europe. 1S4.000
Aiuer'n cotton iitloat for Eur pe 692.000
K>fypt,lti*iuil,A:(*..jiIU fur K'r'po
1 6.000
>79,22-2
Stock III ruilod States porta ..
Stock in U. 8. interior port.s. .
90,.527
United States exports to-day.
7.000
.
5.t,000
U
667,1
87,^61
13,000
217.000
364.000
42.000
732,110
92.209
15,000
667,000
38.000
654.538
103,792
23,000
Total viaible supply. ljales.2.444,749 2.743.272 3,010.575 2.980,830
Of the abOTC, the totals of Americau aud other descriptions are as
(ollowB
American—
Llvcnwol stock
432,000
264,000
692.000
579,222
90,327
7,000
Continental stocks
American aOoat
to
Europe ....
United States stock
United States interior stocks..
United States ezi)orts to-day..
562,000
338,000
601,000
667,411
37,861
13,000
744,000
352,000
364.000
752,116
92.209
13,000
443,000
282.(MH)
667,000
654.3:i8
103.792
23,000
bales.2,064,749 2,289,272 2,319,325 2,173,330
Total American
East Indian^ Brazil, rfcLiTcri>ool stock
135,000
168,000
326,000
334.000
London stock
62,000
9,000
26,000
61,300
Continental stocks
43.000
57,000
80,250
193.000
India alloat for Europe
124.000
167.000
217,000 159,000
1 6,000
Egypt, Braail, &c. , afloat
53,000
42,000
58,000
Total £a.st India,
Total Americau
Ac
380,000 434.000 691.250
807,500
2,061,749 2,289,272 2,319,325 2,173,330
Total Tldble supply
Price Mid. Upl., Li veriwol
2,444,749 2,743,272 3,010,573 2,980,830
55»d.
These figures indicate a
6d.
6»id.
6»itCi.
d<!crease in the cotton in sight to-night
of 298,523 bales as compared with the same date of 1878, a
decreMe of 566,>-26 bales a,s compared with the corresponding date
of 1877, and a decrease of 536,0.^1 bales as compared with 1876.
At the Intbrior Ports the movement —that is the receipts
And shipments for the week, and stocks to-night, and for the
oorresponding week of 1878 is set out in detail in the following
—
statement:
b
—
—
—
We
'I
—
—
—
Week ending Mar
21, '79.
Receipts Shlpm-ts
Stock.
Oa
Columbus, Ga
Macon, U»
Montgomery, Ala
856
671
165
827
Scluia. Ala
5:t7
Augusta,
2,943
2,078
281
Week ending Mar
22, '78.
Receipts Shlpm'ts Stock.
12,880
6,561
2,571
•3,703
2,445
53.176
7,191
1,688
10,351
1,468
3,969
2,366
1,073
2,194
1,229
17,194
1,526
9.095
10,042
4,138
9,263
3,015
48,362
3,344
355
420
496
966
Uemplils, Tenn..
Nashville, Tcnn..
9,023
523
2,442
1,582
14.611
1,000
Total, old porta.
12,502
24,937
95,427
15,744
29,551
87.361
Dallas, Texas, etl
Jefferson, Tex.. .
300
1,000
2,787
2,542
2,801
568
303
446
761
1.474
4,398
181
4,540
4.398
1,457
2,076
2,299
4,046
3,724
1,664
2,154
Slireveport, I.a
Vlck.-^hur^,
—
Gaheaton. Texat. We have had a shower on one day, tlio
reaching twenty-nine hundredths of an inch. Nearly
every section of the State has had rain during the week, doing
immense good.
Both corn and cotton have been generallr
planted in the southern half of the State, where much com
already up and doing well. The thermometer has averaged 83,
the highest being 75 and the lowest 45.
Indwnola, Texas. It has rained on one day during the week
(a sprinkle), and we are needing more.
Cotton has been generally planted.
Corn is coming up finely, but needs moisture.
Average thermometer 63, highest 78, and lowest 46. The rainrail for the week is four hundredths of an inch.
Cor»i:ana, Texas. There has been a sprinkle on one day during the week, the rainfall reaching six hundr^ths of an inch.
The weather was too cold on one day, but no serious damage has
been done. Corn and cotton planting is progre.ssing, and the
ground is in good condition. Average thermometer 57, highest
83, and lowest 33.
Dallas, Texas.
It has rained during the week on one day (a
sprinkle), the rainfall reaching five hundredths of an inch.
The
weather has been unseasonably cold on one day, but without
damage; the balance of the week having been pleasant. Planting
is making good progress.
are needing more rain, but not
badly.
he thermometer has ranged from 33 to 83, averaging 57.
Brenham, Texas. We have had delightful showers on two
days this week, and the indications are that they extended over %
wide surface. Cotton planting continues actively, and some is
already up and looking well
Season looks propitious.
The
thermometer has averaged 63, the highest being 77, and the lowThe rainfall for the week is sixty hundredths of an inch.
est 43.
yete Orleans, Louisiana. It has rained during the week on
two days, the rainfall reaching fifty hundredths of an inch. Tho
tbermoraeter has averaged 60.
Shreveport, Louisiana.
The weather during the week has
been fair and pleasant, and condition of roads much better than
last jveek.
Average thermometer 57, highest 81, and lowest 33.
The rainfall has reached seventy-five hundredths of an inch.
Columbus, Mississippi. We have had rain during the week on
one day, followed by two cool days. It is now warm and threatrainfall
Miss
..
.
288
448
611
1.102
2,100
1,710
2,956
244
230
135
&37
860
565
205
603
244
Colunituis, Miss..
Eufaula, Ala
Ob
Atlanta, Ga
598
l,7;i2
796
27
969
401
628
115
4,137
5,918
0,342
0,881
5,089
27.U6
58,792
740
4,962
10,224
1 1,013
1,009
3,874
1,439
1,247
24,394
7,662
Total, new p'rta
21,647
29,534
61,085
22,005
30,099
Total, all
34,119
54.491 141,612
37,749
59,6.30 146,6-')3
Oriffln,
Rome, (la
<:Uailotto, N. C...
at. Louis, Mo
Cincinnati, O
1,366
1,219
378
8.801
877
599
756
5,431
1,724
446
7,356
Actual count.
The above totals show that the old interior stockR have
'Iccreased during the week 9,899 bales, and are to-night 3,«0«
bales more than at the same period last year.
The receipts at the
same towns have been
U,21'2
bales
Um
than the same week last
ye»r.
Hecetpts from the PlantatioiJs.— The following table is
prepared for the purpose of indicating the actual movement each
week from tho plantations. Receipts at the out ports are sometimes misleading, as they are made up more largely ono year
than another, at the expense of tho interior stocks.
We reach,
therefore, a safer coacltulon through a comparative statement
like the following:
—
ening.
—
Arkansas. Telegram not received.
Nashville, Tennessee.— Main has fallen during the week on four
days. The thermometer ha.s averaged 40, the highest being .58,
and the lowest 22. AIx>ut ninety per cent of the crop has now
Little Rock,
been marketed.
Memphis, Tennessee. We have had rain on four days of the
week, the rainfall reaching one inch and twenty-two hundredths;
yet roads are good, and plowing vigorous.
Fruit was mostly
killed on the seventeenth and eighteenth. Average thermometer
43, highest 6J, and lowest 36.
MoMe, Alabama. It has been showery one day this week,
and has rained to-day (Friday) constantly, the rainfall reaching
forty-one hundredths of an Inch. Tho thermometer has averaged 67, the highest poiut touched having been 73, and tho
—
—
lowest 39.
—
Montgomery, Alabama. R^in hns fallen during the week on
two days, to a depth of ninety-nine hundredths of an inch, but
the weather the rest of the week has been pleasant. The thermometer bos ranged from 33 to 76, averaging 50.
Selma, Alabama. Rain has fallen during the week on two
days.
—
Florida. — It has rained on
ono day of tho past week.
the highest bein<; 7^ and tho
lowest 08. Farmers are all hard at work, preparing for the
coming crop. Corn has been planted, and cotton Is now being
Madison,
The thermometer has averaged
planted.
—
70,
Maeon, Georgia. We have had rain on two days daring tha
week, and a killing froet on Tuesday night. The thermometer
has averaged 58, the highest being 7.! and the loweat 88.
Oolumbus, Oeorffia
We have had a rainfall this week of ono
inch and live hiindrxlths, but it was not enough to do mnch
gcod. The thermometer has averaged 56.
—
——
„
..
THE CHEONICLE.
306
Savannah, Oeorgia. —Bain has fallen on three days, but the
week has been pleasant. The thermometer has
averaged 60, the highest being 74 and the lowest 46. The rainfall for the week is one inch and forty-three hundredths.
Augusta, Georgia. The earlier part of the week the weather
was clear and pleasant, but during the latter portion we have
had light rain on two days, the rainfall reaching forty-one hundredths of an inch. Planters are sending their crop to market
Average thermometer 54, highest 73, and lowest 37.
freely.
Charleston, South Carolina.— ^Ve have had slight rains on two
days the past week. The thermometer has averaged €6, with an
extreme range of 44 to 72.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at 3 o'clock
Mch. 30, 3879. We give last year's figures (Mch. 21, 1878) for
Test of the
—
comparison:
Mch. 20, '79 Mch. 21, '78.
Feet. Inch.
Feet. Inch.
r>
3
G
Below bigh-water mark
A
28
7
Above low-water mark... 21
(1
9
7
Nashville
Above low-water mark...
8
2
22
9
Shreveport
Above low-water mark...
40
28
8
Above low-water mark.
Vicksburi:
New Orleans reported below high-water mark of 1871 until
Sept. 9, 1874, when the zero of gauge was changed to high-watei
mark of April 15 and 16, 1874, which is 6-lOths of a foot above
1871, or 10 feet above low- water mark at that point.
New
Orleans
slowly on to the market. The poor selection offering, and the
firmness of near futures, enabled holders to secure full prices in
the face of large American receipts and continued dull accounts
from Manchester, especially as in spite of free arrivals at the
ports the American markets continued firm at prices much above
the parity of the rates on this side. Since the end of February
that is during the past eight days the tone has gradually gone
weaker, and prices have given way l-16ci. per lb. The final
quotation for Middling Upland is 5 5 16d. against 5 716d. on the
10th February. To-day the tone is steady, with a renewed hardening tendency, in consequence of the smaller American movement at the ports tnd interior towns.
SSEj
Compared with the rates current a month since, there is a decline
of Jd. in American, -Jd. to Jd. in Brazilian, ^d. to id. in Egyptian,
and l-16d. to id. in Surats, except Dhollerab, which is unchanged.
The margins between the lower and higher grades of American
and between uplands and Orleans are unusually small. The
present figures compare as follows with those of last year
—
n
:
^—
.
Memphis
[Vol. XXVIII.
Uplands.
Mid. G. Mid.
G. Ord. L. M.
1879
1878
d. 51i6
d. 51a
53i6
S's
.
G. Ord.
513
67i6
.56i6
6l8
Orleans.
L. M.
Mid. G. Mid.
53,8
51I10
^'16
5'i6
5"i8
61,0
6%
.
—
Comparative Port Receipts and Dally Crop Movement.
of the port movement by weeks is not accurate,
A comparison
the weeks in different years do not end on the same day of Ibe
have consequently added to our other standicg
tables a daily and monthly statement, that the reader may colStantly have before him the data for seeing the exact relative
movement for the years named. First we give the receipts at
each port each day of the week ending to-night.
POKT RECEIPTS FROM B.VXnRDAY, MAK. 15, '79, TO FRIDAY, MAR. 21, '79.
Bfi
We
month.
511,
613,,
i^jg
iho
"2
iig
%
'le
^Hi
'^le
liargin between good ordinary and middling uplaud lo-day
per lb.; last year it was |d.
that between good ordinary
and middling Orleans is id. to-day, against ll-16d. last year. The
diiference between good ordinary to middling uplands and
Orleans is to-day id. per lb.; last year it was from 3 iOd. to id.
The clofer approximation in value of the lower and hijiher grades
is a proof that the present crop is unu.-ually clean
and tlie prevalent belief amongst consumers is that for spinning purposes the
crop is at least five pe; cent better than the last one that is to
say, 100 bales of this season's growth will go as far as 105 of last
Decline. d.
1
The
is Jd.
:
;
;
season's.
The following are the principal fluctuations in futures since the
date of our last report
February March
April
May
June
July
hag.
March.
April.
May.
Jtiue.
July.
August.
Sept.
:
D'ys
New
of
Or-
Mo-
we'k
leans.
bile,
Bat..
1,946
4,709
2,298
1,958
5,286
3,324
Men
Taes
Wed
Thnr
Frl.
Tot.
1,142
945'
187
2171
881:
1,280,
19,521
Nor-
Char- Savan- Gallestou
nah. vest'n.
4,682
Wil-
miug-
All
others,
1,784
1,645
2,318
3,328
1,652
5,675
folk.
273
519' 1,036
119
1,068
1,549] 1,389
964
3621
121
593
498
542
614
709
1,378
3,668
4,486
712
541
511
114
190
159
108
1,024
313| 1,135
4441
979
811 16,40:
4,105! 6,52";
Total
Feb.
7,531
12,019
7,453
8,718
10,584
13,897
60,202
By adding to the totals to Feb. 28 the daily receipts since
that
lat time,
we shall be able to reach an exact comparison of
the movement for the different years
1878-79.
1876-77.
1875-76.
1874-75.
1873-74
•
This statement shows that the receipts since Sept
1 up to
to-night are now 238,600 bales more than they were
to the same
day of the month In 1878, and 369,383 bales more than
they
were to the same day of the month in 1877.
add to the last
table the percentages of total port receipts
which had been
leceived Mar. 31 in each of the years named.
We
&
in receipt of
Cotton Report for February.— We are
Messrs Ellison & Co.'s cotton report dated
March 8,
Co.'s
and make the following extracts from it.
COURSE of the LIVERPOOL MARKET, FEH. 10 TO
MARCH 8
Our last report was wsued on Feb. 10. The market had
been
very firm for several days, owing partly to a slightly
increased
business m Manchester, and partly to the limited
supply of cotton
offenngr, owing to the strike of the dock laborers;
and Middlinir
advanced from 5 5-16d. on the 0th
J^
ViSr
to 5 7.16d.
on the
'^™® \ P*"?^® '^^ '1"* demand, resulting in only a
and ending in a decline of id. per lb. between
il
^Au^^T^
"^
^'^'^ "'.'•
°""°« ^^« *^°«"i°K f«w days the tone
wi?'^fi
1-16'i
"''^i* improvement wa^
^„?„T.- r'"'.^w,P"S'/#"''«'l
*^^ ^®'? '^'- '^^^ ^'"''^ "' '"« dock laborers
w^ov^
h?Vi'
was over, but
the recently arrived
}?:
.,
K
•
•
cotton found
its
way very
5'l6
56,6
51*32
51I32
51132
d
Mar.
d
51632
51I32
51'32
51332
51Bs2
51332
51332
5's
538
51932
5I3
59l6
51732
5I2
5S'l6
5 -'32
51532
51532
51>8
59ie
5«i«
COURSE OF THE M.\NCH ESTER MARKET FEB. 10 TO MARCH 8.
The condition of business in Manchester continues most unsatisfactory.
Throughout the period uuder review the demand has
been slow and fitful, and prices have gradually given way
ending in a decline on the month of about Jd. per lb. in the most
current counts ol yarn, and 3d. per piece in the ordinary run of 7
Meanwhile the raw material has given
lb. to 8i lb. shirtings.
way only id. in American and l-16d. to id. in Surats. The position of consumers is, therefore, worse than it was before, and the
situation
1877-78.
T'lFeb.29 3,836,564 1,561,300 (,551,655 !,457,554 1,934,051 3 ,013,205
Mar. 1....
10,547
17,754
6,325
7,842
8,903
8.
" 2....
8.
9,868
9,782
12,518
10,947
26,819
" 3....
19,628
8.
4,567
12,817
14,779
12,802
" 4....
19,653
32,985
S.
10,411
10,928
18,913
" 5....
7,947
17,175
8,531
8.
10,617
10,179
" 6....
9,860
9,746
6,678
19,134
11,637
8,240
" 7....
15,631
8,873
8,722
15,922
.
11,795
8.
" 8....
12,431
12,300
6,561
15,674
8.
13,681
" 9....
8.
8,728
16,228
6,387
19,881
12,118
"10....
18,764
8.
8,473
10,364
10,817
9,247
"11....
14,887
19,179
8.
8,451
15,911
12,365
" 12....
8,298
11,487
8,391
S.
12,002
9,263
" 13....
10,344
14,234
8,017
17,597
11,112
7,845
" 14....
13,767
13,992
6,758
11,280
8.
10,571
" 15....
7,531
14,644
7,692
11,015
8.
14,561
" 16....
8.
11,210
0,311
6,572
5,923
16,789
" 17....
12,019
8.
4 227
9,628
7,439
9,721
" 18....
7,453
18,579
8.
10,121
7,989
10,008
" 19....
8,718
16,411
7,229
8.
8,265
12,628
" 20....
10,584
10,397
5,378
12,539
5,279
9,222
"21....
13,897
11,024
7,581
7,913
8.
8,801
Total
4,058,522 3,819,916 3,689,139 3,663,715 3,112,460
3,286,152
Percentage of total
pt. rec'ntsMar. 21.
8790
9136
87'42
8900
86-38
Ellison
d. 57ie
d. 5B,e
d. 51332
is
now
disastrous in
tlie
extreme
— so
much
so,
indeed,
that failures are constantly taking place amongst spinners and
manufacturers, and very grave apprehensions are entertained
regarding the immediate future. The followine tab'e, giving the
average price of Good Ordinary and Middling Uplands, 32's twist,
and 8ilb. shirtings, shows how seriously the margin between
cotton and yarn, and cotton and goods,
as been reduced during
the past twelve months:
Mar. 7, '78. Mar. 8, '79. Decline,
i
d.
d.
Average of Good Ovd. and Mid. Uplands.
Average price of 32'8, cop twist
d.
Sig
713j„
Gg. 3d.
91^
SiSjo
815, f,
Avcra,i;c prioeof 8I4 lb. ehii'tiugsper p'c.
7s. Od.
Average pi ice per poimd
lo3,8
MOVEMENTS DURING THE SEASON, OCTOBER
1
TO
Hie
iig
9U.
11,
FEBRUARY 2b.
The
deliveries to English and- Continental consumeis during
the fir.<t five months ol the season have been as follows, compared
with the figures for the corresponding months of last s-asou:
Great Britain.
.
Number
1878-9.
1,091,050
1877-8.
1,230,410
Aver'ge weight,
lbs.
443
415
..
Continent.
1878-9.
1877-8.
1,005,960
952,800
,
,
.
of bales
.
422
431
Total weight, lbs... 483,335,150 510,620,150 436,586.640 402,081,600
To last year's deliveries to English spinners must be added
4,345,000 lbs. proportion of error discovered in the stock of
Surats, as explained in our report of twelve months ago making
the total deliveries 514,975,150 lbs.
The average rate of consumption in Great Britain in January
was about 56,000 bales, of 400 \ha. per week. In February it was
rather less, say 54,000 per week, or 216,000 bales, equal to
This weight added to the 374,86,400,000 lbs. for four weeks.
—
—
.
400,000 lbs. consumed during the first four months of the season
gives 460,800,000 lbs. as the weight consumed in the first five
months, against 58,000 bales per week, and a total of 510,400,000
lbs., last season.
"I'be rate of consumption on the Continent in
January was about 45,000 bales, of 400 lbs per week. It was
probably al'out the same in February or a total of 180,000 bales,
equal to 73,000,000 lbs., which, added to the 309,600,000 consumed to the end of January, gives 381,600,000 lbs. as the weight
consumed in the first five months of the season, against 387,200,000 lbs. last season.
On the basisof the foregoing calculations, the movementshave
been as follows this season, compared with last. The stock on hand
on the 1st of October is the surplus shown in our autumn annual:
Great Britain.^
Continent.
—
.
,
.
.
1878-9.
1878-9.
1877-8.
1877-8.
Lbs.
Lbs.
Lbs.
Lbs.
Surplus st'k, Oct. 1 13,800,000 13,800,000 39,550,000
.5,368,000
Deliveri'8 to Feb.28. 483,335, 150 514,975,150 436,586,610 402,081,<:0O
.
Supply
Consumption
weeks
in
Surplus, Feb. 28
do. bales of 400
497,135,150 528,775.150 476,136,640 407,449,600
22
16e,800,000 510,400.000 381,600,000 387,200,000
Ibe.
36,335,150
91,000
18,375,150
46,000
94.536,640
236,000
20,249,600
50,000
March
22. 1870.
THE CHRONICLF.
|
Ttie lurpluH stock hold 1)7 Ri)ioni*rB ia therefore 331,000 bales,
of 400 Iba., larffHr than at liils time last year. These 231.000
Against this exeesa
tiMklea are tquil to 210.000 bales of 4tU Iba.
in the stocks at the mills and interior depots, there la a deficit
-of 200,000 bales in the Tisible supply— making a net deficit of
iSS.OOO bales at tbo end of January.
PROSPECTS.
not Improve, no far as the raw materl I la
ooncerned the poeltlon undoubtedly looks very strong, if we
jnerely regard the aiatistics of prr-seot and probible supplies,
compared with the ti|;urea of preceding seasons but the statistics s^o for very little in the face of the long-continued disastrous
•tate of trftde In Manchester, and the absence nf tlie least Indica
If anything intion of any immediatH change for the better.
deed, the position Is worse than it wan a montli since. Cotton i^
low priced enough, absolutely, but it U very dear when compared
with the price of yarn and cloth
and the spinner
lieinfl;
crushed between a firm market in Liverpool, Dccasioned by the
aforesaid strong atstistical position, and a weak market in Manchester, occasiouod bysn inadequate demand for yarns and goods.
The out-turn of the mills is being gradunllv reduced by failurosi,
stoppages and " sliort time," but, go far, without bringing the
least relief.
Eventually mutter.-i will right themselves, and by
.some means or other a paying margin between the prices of the
raw material and the manufac'ured article will be jjrought about.
Whether this shall be accomplished by a fall in cotton or a rise
in yarns and goods remains to be seen. A fierce sirugi^le is going
on between the strong iposilion of co.lou acd the bad sttte of
trade.
At the moment cotton has the beat of the contest, and
prices are much higher than they would have been if the East
Indian, Egyptian and Brazili.ia crops had not fallen off but
unless trade improves, the position of cotton will become less
end less strong aa the season advances and the advent of the new
crop approaches. Just now th^- chances are against any decline
of importance, but some improvement will have to take place in
Manchester before any advance of moment can be established.
There is still a considerably difference of opinion touching the
probable out-turn of the American crop. The known facts to
date are as follows
1878-9.
1877-8.
The outlook does
;
:
l.-i
;
;
:
Bales.
Bales.
March 7
3,904,500
Taken by Northern spinners overland, Feb. 2S 282,000
Jteocipts at the ports to
Total receipts to date
Here
3,646,000
189,000
4,186,500
3,834,000
an increase of 352,000 bales upon the movements during
last season.
The last crop was 4,811,000 bales. If the above
and that on .lltt Dteemb-r, 1877. tgalort th« probably mucb
smaller takings— at least during the next few m'>Dths of the
local mills— eight of which, aggregating nearly 300,000 ipladles, or about one-Hlth of the total splndlm In the Preatdeocr,
hare lately stopped working, and mor« are r<^ort«d to be In
difnculties.
Of course the above estimate ia liable to be altered
by any serious deficiency in the supplies of ConipUh and Dharwar, or on the other hand by unexpectedly large yield* of Dhollerah and Broach.
The foregoing etatements, with the even leys favorable condition which the weekly Bombay receipts since Febraary 10 aeem
to indicate, would maks necessary a material change in
the
prospects of the market, were it not that consamption is (alliog
below all estimates.
—
Bombay Shipmbnts. According to our rable despatch received
to-day, there have been 7,000 bales shipped
Bombay to
Cireat Britain the past week and 20,000 bale* to thu Continent
;
while the receipts at Bombay during this week have been lO.OOO
biles.
Thit movement since the 1st of January is as fallows.
These figures are brought down to Thursday. March 20.
lam
Shipments
Brlt'n.
;
The
week
this
Great Contl-
_
.
,
J^"'*'-
neut.
Shlprneiits since .Tan.
I
Great
(Jontl-
Britain,
nent.
|
."53.000 70,000
1878 10,00014,000 aa.OOO 98.000 147,000
18771 0.O0O22.0O0 28.0001 1-20.000 97,000!
From
regard to the crop prospects in the Bombay districts
(Cotton is coming in'o the up country markets very slowly,
although in gradually increasing quantities, and it is daily
becoming more evident that the crops iu the Central Provinces,
the Berars and Kbandeish are going to be shorter than was
expected.
The receipts of cotton into Bombay, whereof the
bulk at this season consists of Oomrawuttee descriptions, are
from 1st January to date only 73,4-50 bales, against 141,371 bales
daring same period last year, and less tl an they have been
daring the same period in any year since the American war,
testifying at all events to an unusually late crop of Oomrawuttee,
not also to an unusually short one; and, so far as
it
can be judged from all accounts, confirmed by the bast authorities, the Oomrawuttee crop will be at least 150,000 bales less
than last year's. Even with the maintenance of high price.x, it
is unlikely that so large a proportion of the total yield will be
available for shipment before the rains, as was the case last year.
The receipts, too, of Hingenghat are unprecedentedly small.
Latest accounts from Dharwar are rather gloomy the country is
overrun by rats, which are said to be doing considerable damage to tlie cotton bolls, and the supplies from the Southern Mahlatta country are not now expected to be nearly so large as last
:
;
;
Binoe
Jan. l.
Week.
123.000 10.000
215,000 35.000
217,000 55.000
203,000
360,000
333,000
the foregoing it would appear that, compared with last
ho.'i been a decrease of 6,000 bales in the week's ship-
ments from Bombay to Europe, and that the total movement
since January 1 shows a decrease in shipments of 122,0J0 bales,
compared with the corresponding period of 187S.
—
Ounny Bags, Baooino, Etc. Bagging has been in fair jobbing request during the past week, and'sm.ill parcels are moving
as wanted, but in a large way we hoar of no transactions.
There ia no change to be noted in quotations, and holders continue to ask 81@8ic. for 1| lbs., Qi§He. for 2 lbs., and 9i99|c.
tor standard quality.
Butts are ruling very steady, and a fair
demand is reported by dealers, and some sales of lota have been
made at our quotations, in all about 3,009 bales, part of which
was said to have been sold at 2ic. The feeling is firm at the
close, with dealers asking 24@31c., as to quality and terms.
Thb Bxforts of Cotton from New York
week ehow a
this
decrease, as compared with last week, the total reaching 3,10S
bales, against 5,707 bales last week.
Below we give onr anoal
table showing the exports ot cotton from New '^rk, and their
direction, for each of the last four weeks; also the total exports
and direction since Sept. 1, 1378, and in the last column the total
tor the same period of the previous year.
Hxports ot Gotton(balea) rrom IVew VorkeloeeSaDt.I. 18T8
Same
March
Feb.
a.
March
1,S84
Total to Gt, Brttaln
i.:8<
1.883
March
Total
to
period
prev'ns
date.
jeer.
12.
19.
4.4:9
t.«»5
18t.4S«
4,313
380^398
4,4SJ
2,8tB
188,764
»8»,«J6
83
10,451
4.IKn
115
5.
Uverpool
Other British PorU
Its
Other French porta
100
148
Bremen and Hanover
550
SCO
278
371
Total to N. Bnrope.
750
m
10,551
4,728
13.315
14,07
333
I0.13S
13,18;
S9,223
4 4B4
311
378
930
l.OOJ
....
USD
~000
8.C84
3.S5J
5,707
•pahLOporto A QibraltarAc
1317
328
Other ports
as
5,310
ail otners
Total Spain, &c
Grand Total
3.105
5,810
2,398
JSI,0S7
«8S.sea
The following are the receipts of cotton at New York, Boston,
PhilhdelDhiaand Baltimore tor the past week, and since September
1,
1878:
aioa'TB rBOX
nw TOBE.
New
Orleans..
Sept.
MobUe
norlda
8'th Carolina,
trtta Carolina.
Virginia
1.
rmrukBair'ik
BALTmoBB.
This Since This Since This Since
week. Sepkl. week. SepH. week. 8ept.l
1
j
88,03!
103,760
128, 732
6,101
800
Savannah
1
BOSTOH.
Since
This
week.
year.
Estimates of the Broach and Dhollerah crops remain unchanged. There will be a fair supply of the Dhollerah, Bhownuggor and Mowa descriptions, which go to make up the higher
qualities of what is known In Liverpool as Dhollerah, and
grown on the eastern half of the Peninsula of Kattywar but the
crops on the western side, consisting chiefly of the lower grades
of Dhollerah, Mangaroles, Veravul and Cutch, will be very
abort indeed, and on the whole, as before reported, not much
more than a half average crop of Dhollerah, can be looked for.
Altogether the prospects of supply are if anything worse than at
date of our last report— and, seeing that the bulk of the deficiency in Oomrawuttee and Hingenghat will tell on the shipments
before the rains, it is difBcult to see how the exports hence to
Europe for the half-year ending 30th June can possibly amount
to the C35,0C0 to the 650,000 bales advocated by some— the probability being that about 100.000 bales less than this figure are
the moat that these can total. This, after putting the difference
between the stock of cotton in Bombay on 3l8t December, 1878,
Tills
year, there
—
Bomb.vy Cotton Crop. Messrs. Wallace Si Co., in their
report dated Bombay, February 10, give the following with
Receipts
1.
Totak
1879i 7,000 20,000 27,000
is
increase is maintained to the close of tlie season, the crop will
reach 5,163,000 bales. Many authorities, however, are looking
for a falling off in the receipts after this date but if they fall o t
150,000 bales, the crop will still be over 5,000,00) bales. So far as
can be seen at present it looks as if the yield would vary somewhere between 5,100,000 and 5,300,000 bales, or about 100,090
bales more than seemed probable six or eight weeks ago. Against
this there is the probability of a deficit of 100,(XX) bales in the
ihipments from Bombay, do that in the aggregate the supply of
«otton promises to be about the same as that given in oar Annual
Report issued in January.
307
1,351
m
17',3»
84,143
33.153
132,280
8.238
131,134
5,2)3
896
Rorth'm Porte
Tenneetee, Ac
Foreign.. ....
I,8<>2
iItm
85«
8,463
27,809
1,933
170
73
....
1,925
19,733
lion S9,0N
.•
"m
2,637
5,071
«i
'w6
41,821
95,081
72,131
90
12.521
46,130
sins
16.000
7
Total this year
15,881
725,223
10,947 241,301
ToUl last year.
28,111
719,345
8,742 282.817
4,«« <S,908
3,234
82,847
2.I24 i*a,iM
1,308
ltl,M«
—
HHIPFINQ Nbws. The exports of cotton from the United
States the past week, aa per latest mail returns, have readied
So far as the Southern porta are concerned, theM
140,743 bales.
are the aame exports reported by telegrapK, and published in
Thb Chbo^icls, last Friday. With regard to New Tork, wa
:
:
.
'
THE CHRONICLE.
308
Total bales.
37r....Ciiy
nbw':York -To Liveroool. por «teamer« Wisconsin, 2,034
ol Ber-
r
M....perehiii Kinross,
To Havre, per tteamcr France, 83
To Bremen, per eteamir Main, 3i3
-.vi; ,"i;-;' •V.:;;™Vi'.„'
Anstral lan,
Abdiel, S,t)i>6
Nbw Obleans- o Liverpool, ptr pteamersExplorer,
per sh.pa
3,'<17
Wm. Svmmgton. 8,857
6 4;?
baric Qacen
per
.2...
Gerow,
5,7
o,931....
Minnie
H.
lier Mai.ny,
lin,
Abytieir.ia,
8(3
.
. .
2,6!I6
83
;.:•
"
Wm
.'
i'apf colt,
'per'ships
6 -^J^
Forest E.gle. 4,.W9. ...Professor Mohn, 3,259... Marcia
'».™(
Greenleaf. 4,8-i8 .. per naili Anna, 1,601
3.887
To Cr-Mii-tadi per f-hip Sandu^kJ•, 3,857
................. l.liOO
ToHclsingfors. pe' baikL' ssiEiiano, 1,1^00
4fi81
Grant,
1,370.
brig
per
31
1....
Meryman.
j
ToGenoa.perba.ltP. C.
••
....
;;; 1,031
To Vera CroK nor sieamirOiry of Mexico. l,i«4
Charlrston-To Liverpool, per bark Glen Grant, i,367 Upland and ".i ^ ^^^
To Havre, ptTbak Aaron Gondey, 8.475 Upland
... ••
.,•
To Eeval, per baikMusca, 2.600 Upland
bark
To Ba ceiona, per steamer Beatrix, 1,570 Upland and per-•--•
Arlington, 2,800 Upl .nd. ...per brig Lealtad. 825 Up
baik
...per
Upland
Fennel,
3,451
tizzie
ship
per
Reva
Savannah— To
RaKiihild, 1.S70 Upland
v
u.",
Upland.
kPiaton.
1,525
per
ba
Cronsiadi,
To
To Bai ceiona. per barks Felisa, 10(i U|.land ...Santa Maria Abne-
2.47^
''""''
M"
? ?»
l.ti-J
-'-
Amount anoat
Of which American
.
8,893
140,742
Total
of these shipments, arranged in our osnal form,
The particalari
:
Spot.
Fair bust
Active ne^satpre Hardening
Ac ivc
and firmer and firmer vlouB pr'CB
Market,
12:30 P.M.
Mid. Upl'ds
Mid. OiTns.
Market,
5
r.
5»16
}
M.
Helsing-ceM\
Vera
teriSbc. Genoa. Cruz Total.
dam. Reval. fora.
828
8.106
78,«35
U.8I.S
1^3
915 25,967
2,260
4,!83
8,475
. .
Savannah
Texas
....
2,8.10
..
B,324
.
Norfolk
8 900
Boston.
6, .98
Total. ...«),8e6 13,911
915 34,0919,442
3.588
4,681
1,5 is
2,433
7,100
14,'9t
5,437
5,195
1,865
1,960
9,020
i.rsi
8.-.
5,776
14
87,1-6
S.iOO
6,3»8
1,095
Market,
arkct,
I
^
5:1: M.
I
12,000
2,000
15,000
2,000
Firm.
Dull.
Mar
Apr.-May
12.
12;
her
posl'ion has changed, she having moved down ^li^hily to shoaler water.
A porticn of her
'lher<- is about i4 feet of water about midship.
machiuery is disabled.
PoKMKRANiA (G.r.) Ten boxes were landed at Dover March 3 by tug .foho
Bull, ex «nnken steamer Pommerania (Qer.), from New Ifock for Hamburg, btifnre reported.
Taous, sieamer (Br.), which sailed from Bo-ton March 1.3 for Liverpool,
retnmeat" Bision 16th having broken ber shaft on the 14th about 00
miles ea-'l of Boston Light, which prevented her making over three
kno'S an hour. She will probably be detained fi.ur or five days for
repairs.
.Alobbia, bark (Br.) 199 bales of cotton ex-Algeria, before reported, were
forwanlfd to Alkmaar on Feb. 26; 340 bales were forwarded on tlie 2;th,
and 172 bales on the 28th, making the aggregate at Alkmaar on the 28th
1,^47 bales.
David Malovhsoh. bark (Br.), before reported below New Orleans, leaky,
Ac, hts tetnroed to th:it city Mar h5, and may have to dischsrge cargo.
King ARTitua (tJr.> Oi bJes and two bags of cotton h.id been landed
ex-bAik King Arthur (8r.), before rei>arted, since last report up to Feb.
RoTAL Diadem, (Br). The bull of the bark Koyal Diadem (Br.) was stripped
at Charleston, 8. O of coopi r. It would be destroyed after everything
,
had been taken fr^m it.
Kinersen, from Gilve«tonat Sileino, luly, with about
9011 bnies of cotton ctl
on board, was wrecked at the latier p ace prior
to February 26. On Feb. 88 sha lay high upon the breakwai er and
won i prove a total loss. The cotton on board (8J0 bales) would be
of Tain<^
iN>>r.).
I
e«Bilj recovered.
T. Towner, Brig, Perkins, at New
wea;her he entire pissage.
moie, but
I
I
it
Haven Mar. 14 from St. Croix, reports fine
Picked up one bale of cotton and saw
coming ou dark could not get them.
Cotton freights the past
Satur.
week have been
Mon.
Tuee.
Uvcrpool, steam d, ...'SH. ....s>H
do
gull
d.
^16'®''32
'32
Havre, steam
e.
ai%'
...-a =8'
'Sl*^
do sail
c.
-..•©^ ...-®l3
..'Shi
Bremen, steam, .e.
l2S9i8
do
sail
c. 632® Ja
'632® la "32® "a
—
Hamburg, steam, c.
Fri
®l4
....•©4
....av --.®V
®ia
12,000
2,000
10,000
2,0lO
12,000
1,000
— ®V
...®ia
....a>^
*ia®«i6
*1S®1>18
1B32®12 1^32®^ 1532® la
9l6®S8 '•leS's
®l3
...®ta
...®5a
...®<s
.-.®S8
'S'b
Firm.
Barely
Offerings
Btealy.
Flat.
free.
Deliteru-
d.
r»i^,s2
May- June
July- Aug
b^
Juue-July
d.
o'^ag
5i«:i2
I
Monday.
Delivery.
Delivery.
DeHvery.
52i32®'8 July-Aug .5iiic2"32
5ia®i732®i3 June-July
Mar
Snipmeiil.
,...5iii8
Mar. -April
5ia®i7ii» Aug. -Sept
Fcb.-Mar., n. crop,
April-May
51^32 Sept.-Oct
5^
5^*132
saU
59js
May-Jim«
51832 July-Aug
.
Tuesday.
Detiveru.
... oS8®'9,i3
52132
5iiig
5ia
Mar.-April
Juuc-July
Si'aj July-Aug
51732 Aug.-Sept
-5"32
Mar.-Apr
April-May
May -June
...5i833®i'i8
|
I
Delivery.
Mar
51a
5I2
Apr.-May
July-Aug
Apr.-May
5%
«>i'.i3
Wednesday.
Delivery.
Mar
Detiverif,
. . .511 16®-''32
5»i8®'%2 Jvdy-Aug
Mar.- Apr
Apr.-May
May-June
Jane-July
59ia
5«i8
5%
.
.52i32'3i'ii6
Aug.-Sept
April-May
5'U
5i»32
May-June
5'-Ji32
Mar
5!%
Delivery.
Mar.-April. .51*32®''%
5"f
Apr. May
.
June-July
July-Aug
Aug.-Sept
.
..-..
.SS-'isj
5Jt
S-i-as
Thursday.
Delitery,
March
5%
I
Delivery.
Delivery.
I
T>^
May-Juuo
Jiuie-July
.
.
I
S-'sa
5-^32 « " 16
July-Aug. .......-•>%
May-Juuc .. Sihs'S-iaa
S^s
Friday.
Delivery.
Delivery.
51 1 18
Apr.-May
SSsa^ijo
b^S)'^a2
May -June
Mar.-Apr
S'-s^si^j June-July
April-May
MayJiiue.. 52:i32ttiii« Aug.-Sept...
Junc-Jniy .. ..'j2332®% Mar....".
5i i lo Mar.-Apr
Mar.-Apr
I
5^
I>23a2
52732® 'e
Apr.-May
May-Jime
Juno-July
^233;
Mar
52:>.i2
5—>32
S'^ic
52332®% Apr-May.;... 5^1 ®233„
o''e
5*332 July-Aug
BREADSTUFFS.
FaiDAT.
p. M.,
March
21,
1879.
There was a good general demand for flour early in the week
at full prices, especially for low grades, which in soue cases
brought rather more money; but the demand eubeided, and, in
sympathy with the course of values for wheat, some weakness
became apparent. Receipts are large at all points, and receivers,
view of the disturbed condition of the money market, are
prompt sales, but to reducs stocks as
much as practicable without accepiinfir any important reduction
To-day, the market was dull and prices weak ani
in prices.
ia
inclined not only to effect
unsettled.
The wheat market opened the week quite buoyantly, and
early on Tuesday No. 3 red winter sold as high as |1 16i on the
spot and for the next two mouths No. 1 white, $1 14@$1 14
;
No. 3 amber,
'or May
and
afternoon
Tuesday
of
course
the
but
in
fl 13i
Wednesday there was a decline of fully IQlJc. from these
figures, which led to a revival of business, spring growths, espec-
for
March and
April,
for April
as follows:
Wednea. Thm-s.
8,000
1,000
May-June
Delivery.
aground at Port Kads on March
Unch'ng'd
Delivery.
i
51532
51S32
513
Mar.-.April
Mar
RtJTB bark
d.
1,084 140,742
Liverpool from Boston, sailed from former port
still
5S9
5 '8
Saturday.
Delitery.
her as-istance.
BttLOAKiiH, steamer
was
5=8
The actual sales of futures at Liverpool, for the same week, are ijlvon
below. These sales are on the basis of Uplands, Low Middling clause,
unless other^viae stated.
Mar.-Apr
April-May
for Bttston .March
Mikado, s earner (Br.),
d firmer
59iB
559
tJncb'ng'd
Spec. &exp.
Below we give all news received to date of dimstera to vessels
carrying cotton from United Sta'es ports, etc.;
BoSMiE Leb, steamer, from Mindon for New Orleans, with 1,150 bales of
cotiun, waw funk in Red River March 1':. A wrecking vessel want to
(Br.), at
A c Ive
l;teady.
5
Mar.,
Crou's't Si Bar-
BreLiverpool. Havre. men.
York... 2,691
NewOrl'n8..8-3,9.8
:t,^43
Charleston
51a
558
51a
5=8
Dtlivtry.
New
4,0<X»
373,000
317,000
The tone of the Liverpool market (or spots and futures, each day of
week cndlug March 21, aud the daily closing prices of spot cotton,
have been as follows
Saturd'y. Monday. Tuesday. Wedu'sdy Thursday Friday.
are as follows
Eot-
71,000
8,000
56,000
7,000
7,000
567,000
432,000
89,000
75,000
9,000
370,000
310,000
the
.
Illyrian, S,212
Mar. 21
55,000
9,000
46,000
5,000
4,000
552,000
41 7,000
57,000
41,000
Futii7'es.
l.oii,
gaclon. vi) Upland ...per brig Joveo Joaquin, T40 Upland
50
T" Saniandi-r, per brig Carmen. 60 Upland
•'m
Tot'orurma, per brig Carmen, 3 Upland
'OU
To Pasnies, per brig Valentini, 400 Upland
per ships BiverTiXAS— To Liverpuo'. p=r steamer Cliryaulite, 351
Humboldt, 4,380. .. .Guardian, 3,b98... .per barks
Bide fl.ini
14,511
Slsrid.aoo
Odulia, 1,3>3
,
.•;.•• io^A'
„„„"-,v
To Havre, per barks India, 3,500 ...Hex, 1,8C0,... Henrietta, 1,800.. :,ioo
2,430
To Crnnsiadt, per baik St. Cload, 2,J30
l,9tj0
To Barcelona, ei^a.k sincero, 1 980
1,09.
To Genoa, per brig Emily Walters, 1,035
3,9t0
steimerScio,
3,903
:••,•
Norfolk-To Liverpool, per
Boston—To t.iTerpuol, per steamers Bavarian. 9 (omitted previously)
Victoria.
2,.151..
.
previously)
..
BuLarian. 1,8:« (omitted
—
Actual expoit
.Sales
,
.
bales.
Forwarded
Sales American
Of which exporters took
Of which speculators took..
Of which American
of Naii..i,», ft,5Si«
"J'fR?,
'••'*^
Havre, per fhip John Watt, 4,S83
*•''"
•
Biemen', per sti-amer Hannover, 2,- 60...
baric Eastern
...per
165.
Spearman,
ttcamer
per
dam,
^^^
Roltc
To" Rcvar'p.T VtVameV Kibinla,' 5,4-35
week
Sales of the
Mar. 14.
7.
46,000
9,000
36,000
3,000
3,000
556,000
427,000
04,000
81,000
7,000
380,000
313,000
48,000
8,000
38,000
4,000
2,000
516,000
390,000
G4,000
54,000
2,000
387,000
336,000
ToWl import of the week
Of which American
.
Mar.
Feb. 28.
Total stock
.
To
To
To
Vol. XXVIII.
Wednesday
cleared up to
aU vesaeU
Include the manifests of
night of this week.
J
and f 1 15(S$l 151
;
;
becoming more active, selling at |1 03 for No. 2, in store,
and 93i@96i for No. 3. Yesterday, there was some recovery. No.
3 mixed selling at $1 15i@$l 15i 'of March and April, and No. 1
To-day, prices were lower. No. 3 red
white, $1 14 for April.
and April No. 1 white, $1 Id®
spot
at
I
closing
winter
$ 14i
ially,
;
....®...
$1 13i No. 3 amber, |1 13i@|l 13.
Indian corn steadily declined to the close of Wednesday's
business, when new No. 2 mixed sold at 441c. on the spot, 44tc.
still
for April, and 45ic. for May, with steamer and No. 3 mixed
more depressed and exhibiting some irregularities. Other grades
LlvERP.ioi,.— By cable from Liverpool, we have the following
Statement of the week's sales, stocks, &c , at that port
have also been more plentiful, a load of Southern yellow selling on
Tuesday at 4oc. There is a comparatively large supply of round
moderyellow, at about 45(a46c. for new. White corn ia in but
^id'ai's
do
sail ...c.
-Sils
©Ja
Amst'd'm, steam c. ...•ait^
'»»8
do
sail .. e.
....•ai..
.-.®..
Baltic, steam ....d. ...®7,e
...®7ig ....®7ie
do
sail
d.
*
...'Si...
...®.
.
-...®''l8 ,...®7ie
...®7ia
Compressed.
;
—
March
.
.
THE CHRONICLE.
33, 1879.1
Kf c«ipti
•t« Buppljr.
of corn at the
ereaBccl,and wilh low freights by
WoaterD markets
htv
their way to tlie seaboard. Yesterday, thorn wai a firmer market.
No. 3 mixed sellinK at 44i@4<H<:- 'or ^P'H *d<' *^l<^ '°<^ ^*T-
To-day ihere was very
18
48 _
foreign markets, Including 273 to Brazil, 336 to U.S. of Coloaibia,
48A
4S^
51$
S»a
22-i to
Barley ha^been in
L'lu)ice t'an«ilaiBBoarco,and brin«H reUtlvcly full lijrurcs
bat the pooror qualities of Stale are lower, selling at SOCjiOOc. for
common two rowed aDd78i^80a. for choice 6-rowed, whlla choice
Canada broa^ht f 1 0S@$1 06. Hye has declfned, and 25,000
bushels No. 1 State h >H on VVednesiiay at 61c. Outs liave ugala
Buffered an important decline, but at the reduction there was a
To-day, the market was Bt«ady, No. 3 graded
better demand.
closing at 81 }c. (or mixed and SS^c. for white.
The folluwmj; are closing quotations
;
:
Grain.
Flouh.
8Ute
V
bbl. ti
8
ern
Extra St itc,
Weatorn
Ac
8
wheat
apring
exirna
do XX and XXX.
do winter Bhipping ex-
3
4
4
traa
XX
do
40^
3 2)
80^
3 65
4 UO
and
XXX..
4
Minnerau patents
City chlpplne extm^
5
8
Uoulheru bakera' and t»mlly branda.
...
BoathcTn shipp'e extras.
Rrefluur. BaperflDU
Corn meal— We8t»ro,&c.
Com moal— Br wine. &e.
MS
8^4
White
10
B 00
1S3
OOA
yiS
BOO
909
1
Corn— Weat'n mliwl
do
do
No.
new....
whiiu..
ycllcw Southern new.
4 40
8 00
8 ii
S
M
Wheat->7o.3tprlnK,baab. |0
No. jsprln^
1 0)1
79'
Rt'Joctod aprlng
1 or
Amb«r winter
Rod winter No. 3
1 I4K<
4t W^ust-
2,
UH»
Rye— WuBtcrn
U
Canada
Stttc and
Oatii— Uixcd
78^6
25
4 6)
3 9U3 8 80
i lOil i 30
4
4
Wd
,
eU'% I 05
70^ 80
65
55$
liH 90
4-iowed
State,
I
88)44
State, Srowed
Peas-Canada bond^rree
Receipts at lake and river ports for the week endiD<^ March 13,
1879, and from Jan. 1 to March 15, and from Aug. 1 to March 13.
tOA
i
bble.
(I9Slbi>.)
At—
Xilwaaltce.
I
Wheat,
Ploar,
Chicago
{
i 6S
bash.
Corn,
ba»h.
Oats,
bush.
Barley,
(33 Iba.l
(48 lbs.)
Ib6.)
(56 lbs.>
40,S46
46,0:«
45
6.750
9,141
81.599
296.736
!9i,360
49J,JI9
4,.360
433,678
20,100
(1.0
53,4»
73, iS?
N,819
1S3,159
16.83»
»0,5iO
1.34.140
K0,S29
859.069
«,7»
4,000
H<,4;5
8.9:8
17,300
73,868
£5,850
Total
PrsTioas nreelt
Corresp'ng weck,'T8.
U4,1I8
906,409
113.388
1,01S,5S?
UO.tni
Oorre9p'ni;weel(.'77.
60,591
514,714
177,93)
1,336.611
1,9J9,1»3
1,3)8.533
Toleao
Detroit
ClsTeiand
St.Loais
Peoria.
Rye,
bneb.
bash.
44,818
37,013
(56 lb«.)
13,315
8,080
135
el 3.35
4ii7
450
33.659
19,000
ll',55i
6,100
DolatD
611,795
457,339
849,533
168,031
760,338
41,68!
55,9C6
80,138
13,070
119,775
lii.Ma
91,817
76,738
Western lake and
Rail shipments of Hoar and grain from
river
ports.
Week
Flonr,
ending
March
March
March
bbla,
130,915
141,880
51,370
85,SI3
ISTS
15,
16, 1 -178
17,
1877
MarchlS. 1876
Com,
Wheat,
bnsh.
butih.
bush.
Barley,
bush.
664,*i0
714,3:4
774,«3
1..355,081
9t,-ll3
834.065
803.469
813,3:18
433,.5i3
3'd5,19S
l:*),054
175,.ii9
115.043
109.793
119,984
60,530
Oats,
Rye,
bush.
S0.999
61,705
13.115
9.591
Receipts of flour and grain at seaboard ports for the week end15, 1879, and from Jan. 1 to March 13
Oat«,
Wheat,
Corn,
Barley,
Rye,
Flour,
ing March
At—
bbls.
131,454
44,S04
7,000
10,383
14,180
33.804
9,401
KewTork.
Bostsn
Portland
Montreal
Philadelphia
Baltimi>re
N^wOrieaos.
"Trotal
241,0.'5
Prerlons weeic
Correap'ng weelc,'78.
531,186
177,403
Flour,
bbls.
69,815
It,5U3
6.355
Boston
Portland
MnnlrcAl
Phliadulph,*
Baltimore
.
Tot-ii for
week..
FroTloiuweek
Two weeks ago
Same
time in
1878.
.
7,000
11,009
2,000
403,374
336,930
173.847
63,7:8
71.450
80,400
78,291
58,8:8
1,5J0
....
413,500
417,800
171,9.-7
l,6S9,9iO
1,733,455
1,054,485
I,9S9,:59
S,1.)3,85R
1,919,137
I3,U0
908
57,90.!
Corn,
Widest,
bush.
Oats,
baslL
Susli.
4,436
Rye,
Peas,
bush,
bash.
1.677,915
1,361,810
1,637.057
1,363,511
5,449
7,6)1
6,703
17,301
16,7 5
3 >,6:0
116,051
16,391
165,617
10.647
8.966
10,(66
16,735
.
8,079
33,431
Wheat,
Com,
bush.
buah.
bnrh.
Barley,
bash.
8,005,'!ai
1,880,310
3S.0OO
430,317
587.833
643,-352
33,tfl0
38,500
176,730
883.648
436,753
1.000
691,491
7,735,735
8,549,414
3.1.39.371
Dalath(8th).
834,0C0
Toledo
576,1100
154,015
60,000
1,503,000
Detroit
883.191
856
Oswego*
BULouis.
275000
360,000
8,?03,788
KaosasCity
Baltimore
Kcil Khipmint*, week
Afloat n
I
Now York*
Afloat In Chicago
ToUl
,...
Oatf,
397.16)
1:3.313
813.000
85.853
674.5SS
5.093
14.613
841.610
550,369
664,8)0
715,000
t.-i,a3
10,985,83$
339,l>6(
118,153
91,000
500,911
35,0U6
1,386
tO.OOO
11,093
119,C03
17,733
9.30J
84,333
766
450,000
68,308
9,147
87.144
63,679
855,47il
5,680
337,119
310.875
640,616
876,934
771,438
100,000
49t,3:0
4%3,5>8
40,«'0
'155,943
115.03.1
>8,)4S,31i
3,153,016
l,(J98,617
90,367
9,900
FoRBiQN Dry Qoods.
porters, but
a
:
830
Rye,
bush
414,045
84,000
31.301
337,386
158,5<«
85,000
45,398
318
Pkgs.
Manufactures of wool.
do
do
do
Miscell'ueoasdry good-
ToUl
18:8.
30°,»99
Valne.
Pkgs
686
l,!3l
»36>.,976
316.174
6)5
43-1.041
1,075
i3,,93
310 531
679
1,418
»0,«(I1
4.,5:
15,608
$1,473,33)
8,345
18711
Valne.
1,106
f
Pkga
Valitt.
$377,315
366,40-
507
8.M
38
4)1,181
M4
157,1.75
1,013
$'i34,9:0
.,763
307,119
716
448,846
198,190
147,853
1,5.19,899
8.989
tl,4m,108
WITBDBAWil rauU WARXHOaSB ANO TBROWM INTO TiU KaaKST DtTSIMS
THE SAMS paaioD.
aiannfacturea of wool
cotton
do
531
$151,591
108,633
358
349
1135,043
881
tl9t.»77
64,71)0
383
-
silk..
CO
flax...
do
MlacaU'neons dry guodt
151
431
1,417
189. '•30
169 431
1(0,831
60.863
lOi
431
84,776
197
469
4,443
Total
Add ent'd for cons'mp'i
3,974
19,608
t«7«,6«n
l.<«,>«3
5.(85
8,345
~59'.9J9
Tot thr'wn upon mark'i
•6^
#3,148,991
4.C30
.
868
16.488
51,733
4.I61
3,800
674
cottoi
KiJk ..
flax...
334
svBRKD roH
Mannfactarea of wool,
ao
do
do
cottoii
silk ..
flax ..
MisceU'Deoas dry goodr
M,7J0
Toial
Add ent'd for oosa'mp'n
n
8MM
^3Si
7,Tri
8,930
1,405,10
ii!b70.838 11,61
11,914.033
l,S39,8»i
wARSHOirsnia dpriwb sam« fSBioD.
65,915
10,851
i;o
1"4
$1*9,103
54,333
t».u;*
4<i9
73.4 •«
6S,<>ll8
•08
35.»4e
$4'3.II«
l,»W
"»»I,481
18l9,9Ma
3.W
405
3*7
$158,133
88,388
864
77
474
«,?96
e7,i>03
Jit
101,814
63,459
881
S.i03
7,9;»
$174,478
l.<73,S3l
4,15>
8.815
»l.9lit.«<ii
13.503
»1,»ll«4^
|li7,8i>
ISO
881
190,000
5,90.-
1.4<»,10t
1,1»6,3S8
Tot'l entered at the por
•Kstlmated.
— Business was
liberal distribution of foreign faorics
1S77
N
Peoria.
Indlsnapolla.
was
only moderate wilh imwas reported
by jobbers. Staple and fancy dress goods were in steady demand, and as stocks are by no means exeeasive, prio-s are fairly
maintained.
Silks were freely offered at auction, and widely
Millinery goods and ribbons
distributed at rather low prices.
were less active than expected. Woolen goods lacked unimation
in first handn, but were j ibbed in moderate quantities to a fair
amount. For linen goods, white goods, Hamburg embroideries
and laces there was a steady demand, and ttiere was a fair inquiry
for hosiery and kid and fabric gloves.
liBporaaUaMB ut Dry (Sooila.
The importations of dry goods at this port for the week ending
March 20, 1879, and for the corresponding weeks of 1878 and
1877, have been as follows
DtTCaCD rOR OOnsDltPTIOIC FOB TBI WnX SHSIRO KAROB 30. 187>.
333.35(1
1,475.9)0
1,414,819
1,166,535
1,031,495
Philadelphia
Dress goods were fairly
first
100,377
10),il3
88,\36
68,803
Montrial
quiet.
63.391
1,000
Toroiiti
remained
satinets
agents' hanis, and a very liberal distribution
Shawls were sluggish in
effected by the jobbing houses.
hands, but more active with jobbers.
44,750
13,100
918
75
Boston
and
194,407
105,700
1,00D
3,451
34,300
16.600
48,916
433,479
533.4:0
Milwaukee
price,
active in
537,133
1&5.331
433,907
Buffalo
buyers), t>ul ew transactions occurred in these fabrics. Kentucky
jeans were in light and irre.;ular demand, but fairly steady in
913.310
89.050
14.300
4,000
359,500
373,100
16,400
3,913
9.183
Chicago
—
There waa a very light demand
woolens at agents' hands, and selections were
mostly restricted to small parcels of fine fancy cassimeres, cheviots and worsted coatings adapted to the wants of cloth jobbers.
The clothing trade was reported more active, and a few duplicate orders for light-weight cansimeres were placed by clothiers,
but such cases were exceptional. Some inquiry was made for
chinchillas, beavers, and other makes of overcoatings (by early
for men's-wear
bush.
534,878
183,618
at—
meagre supply.
Domestic Woolen Goods
bu-^h.
visible supply of grain, comprising the Slocks in (granary
at the principal points of accamulation at lake and seaboard
ports, and in transit by rail and afloat in
ew York and Chicago,
March la, 1879, was as follows:
la Storb
in
bush.
315,677
81,035
11.100
Albany
;
bni^h.
The
NewYork
Colored cottons were in fair request
moderate selections) and cheviots were sought for in satisfactory quantities but cottonades were sluggish as a ru'e.
Print
cloths were less active than during the previous weeli.but prices
ruled firm at a fractional advance, v!z , Zi-.®Z 5-lGc. cash for
64i64a and 3 15-16c@3c. cash for 66x608. Prims, lawns, priotfd
piques and organdies were severally in good demand at first
hands, and liberal sales of these fabrics were reported by jobbers.
Glnghama were in fair request, and staple checks continued
account of back orders.
(for
ba<*h.
Exports from United States seaboard ports and from Montreal
for week ending March 13, 1879.
From—
New York
Great Britain, 84 to British West Indies, 53 to Mexico, 81
Hamburg, &c. The cotton goods market coniftaued steady, and
there was a fair hand-to-mouth demand for the moat staple
fabrics.
Brown and bleached goods met with moderste sales, and
considerable deliveries of leading makes were made by agents on
to
iOJft
White
Barley—Canada West....
PaiDAT. r. M.. March <t, IIT*.
the past week baa bees cbartea fair degree of animation. The Jobbing trada W4»
The dry Koods market during
terlzud b
moderately active In all departments, and transactions looted np
a liberal aggregata amount. Manufaetarsrs' agents repreaentIng cotton goods, prints, ginghams, dresa goods, &c., reported »
fair business, but there was a continued lull la the demaad for
men'S'wear woolens. Accounts from most parta of the Intuior
state that the spring trade Is progressing satisfactorily, but la
some (actions of the West baslntss has been tihecked within the
last few dsys by the recurrence of stormy weather.
Large quantities of dress silks sought an outlet through the medium of the
auotion rooms, and several thousand pieces were thus dlspoaed
of, but at low and unremuneratlve prices.
Domestic Coiton a(H)D9.— During the week ending March 18,
987 packages of cotton goods were exported from this port to
little abaase.
moderate demand, with a wide range of
prices.
No. S
t)ai<«raDe
THE DHY a03D» TaADC.
In-
sapplles are Sadlog;
rail, liberal
309
•1
7S«.588
THE CHRONICLE.
310
STATES CIBCCIT COl'KT,
rNITRD
SOUTHERN DISTRICT OP NEW YORK.-
STEVENS
Sher? conipWnants and the NKWYOtiK A
WEOO M1DLA.NU RAILROAD C0MPAN1
In cmiily
-Between JOHN G.
ard
OSand
others, defendauts.
and sale
In rurfnance of a decree of foreclosure
States for the
of the Ciicuit Court of the United
Equity,
Southern District of New York-, ^i:ting
the secnude in the above entitled suit, and dated
seventj-ond day of October, elehteen hundred and therein
K-nneth G. White, the Master
I,
the Wickham
«»incd, will sell at public auctioti, at
Avenue Depot of the New York & O.wcg.) Mtdthe
in Middletown
UbA Rallioad Company, .state
cf New York on
County of Orange, and
eighteen
of Jiire,
a^lnrdny. the twmty eiglith day
seventy-nine, at twelve o clock, noon,
m
£
m
knndrcd and
propcrtjr in and by
of said (!av, the premises aid
is to say:
the saiil derne directed t» he sold;, that
branches
All and singular the railroads, railways,
ways, and other property belonging or
Md lights of thereto,
since_ the
constructea at
cnr
»ppurt'enani
defendant,
dSteof ihemorigago made by the faid
Railroad Comthe New Yc^rk &, Oswego Midland
for the foreclosure tf which this !-uit
brought, ramely: The main line of road, cxtendtn" from the city of Oswego, upcn Lake OnOneida.
tario Through the cuunties of Osweffo,
Madi'so. Chenango, Otsego, Oeloware, Sullivan and
of New
the
states
between
line
Orange, tothc State
Toikaiid New Jersey. The Cortland branch fnm
way
of
Cortland,
by
of
county
Conland in the
Trnjton and De Rujter, through the counties of
on
to
Norw-uh
henango,
and
dirin
Cortland. M
the at- resaid main line. The New Ber in branch,
erlin, in the county of C'h' naigo. to
from
IheeforeKid main line. The Delhi branch, from
Delhi in the county of Delaware, to the aforesaid
main I'ne. The Kingston and EllenviHe branch,
from illenviile, through the counties of Ulstir and
Sullivan, to aforesaid main line. Together with
lices, rails,
all and » ngular the lands, track",
bridges, \ia(fuct*, culvc rts, ways rights of way and
laterials. buildings, ferries and feiry boats, piers,
wharves, erecti'US fei ces, walls, nitures, telegraph po'es, tell graph wires and appurtenances to
under
eas-meiits, rights
-telegraph", privM ges,
leases, terms and parts <f terms, agreements.
kind,
and
every
covenants and coi tracts of all
fnucbises, rights a d interests, real etate, per
and
aciion.
lea?eh<
Id
fonal properly, choses in
other things of aid beloiigii g to the said New
Cempany
of
Kailroad
York & Oswego Midland
oany and
«s
Mw
•
I
every kind, nature ar.d charat ter whatsoever. At.d
all railway statiina and depits, engine houses and
loachice shops, wiih all the ap: urtenacces neces«aty or convenient for the sole, complete and entire
:««e and operation, s.3 well as maintenance, of \he
aid roads or rai ways. And also all the locomotives, engii es, tene'ers, cars of every kind, carriages,
.rolling stock, materials, t- ols and machinery owi ed
OD the first d^y of July, one thiAUsand eight hundred and sixty-nine, by the said railroad company,
Of thereafter acquired by i r belonging or appert>iniDi< to said ralln ad and railways, and connected
.
.
with the proper equipment, operation and c:uidact of the same. Ai d'logether with all improveor additions made since to any or all of said
properties, estates, railroads or railways, and their
apportenancis. And alto all and every other estate, interest, property tr thing which the said
railroad company, on the first day of- July, one
thousand eight hundred and sixty-nine, owned or
held, or thereafter acquired and held, ai:dnow own
and hold necessr.ry or convenient for the use, ocrupation, opera ion and enjoyment of all or any of its
said railroads, railways, leases and property lights,
pnviieges and franchise:*, or any part or portion
thereof. And also ail rights and privilei;es to use
the said road-beds, tracks, sidings, turnouts and
«»ltche6 constructed on the first da^f of July, one
thousand eight hundred and sixty-nine, or thereafter constructed for the convenieLt use of said
xailroads, railways and branches, or any of them
-owned or operated by the said railroad company, as
Jolly and eflectually as the said railroad company is
or was by law entitled to h.ive or acquire, including
kD]r leasehold or other privileges or rights under
leacec or contracts made by tli» New Jersey Mid-
ments
•
•
Commercial Cards.
Legal Notice.
Legal Notice.
land Railway Company, the Montclair Railway
Company, the Sussex Railway Company, the
lUdoletown & Crawford Railroad Company, the
Bidgefield Park Railroad Company, the Middle-town Unionville & Water Gap Riilioad Cijni
panv. Of the Preident, Managers acd Company of
the Delaware & Hudson Canal Company. Also all
aide tracks, depots, stations, turn-tables and other
apportenances. And also all the equipment, rolling-Block, engines and cars of the said railroad comAlso all other property, real, perpany, defendan
aonal ormixcd, of the said railroad company, defondant, appurtenant to or connected with any of
the aforesaid railroads, or which has been purchased
Of acquired by the receivers in this cause. Also ail
the franchises of the said New York & Oswego
Xidland Kailroad Com)>any, including the franchise of being a corporation, which the said company poesessed on the first day of July, one hou-
and sevof Augus-t. one thousand eight hundred
And
him.
enty, and now held and possessed by
village of Mida'so excepting certain lands in the
railroad
said
the
by
conveyed
dletown heretofore
a«d
company to the defendant. Mathias Donohue,
also exceptnow held and possessed by him. And
and parcels of
ing all those 8<vera; lots, pieces
town of
laSd situate, lying and being in tbe
Minisink, county of Orange and State of New Yorlv,
lots is
said
which
of
first
follows:-The
described as
described in a conveyance made and executed by
Yorlc &
New
to
the
wife
and
Hayne
Marcus S.
Oswego Midland Railroad Company, and recorded
in Liber No
in Orange County Records for Deeds,
which said
429 on page 2^3. &c. The second of
made and
conveyance
of
deed
in
a
described
Irts is
New
executed by Lewis Tuthill and wife to the
and
Company,
Rai'road
Midland
(Jswego
&
York
in
Deeds,
recorded in Orange County Records for
The third of
Llbtr No. 2iS, on page 273, &c.
conveyof
which faid lots is described in a deed
wife
ance made and e;;ccuted by Lawson Dunn and
Riilroad
to the Hew York & Oswego Midland
Company, and recorr^ed in t r.ange County Records
-.'01, &c
The
for D eds, in Liber No. 839, on page
fonrih of which said lots is described in a deed of
conveyance made and executed by Dennis Clark
and wife to the New York & Otwego Midland Railroad Company, and recorded in Orange County
Records for Deeds, in Liber No. 210. on page 20D,
a
&c The fifth ef which said lots is described
deed of conveyance made and executed by William
Yoi
k
Oswego
lo
New
&
the
Tuthill and wife
Midland Railroad Company, and recorded in
Liber
Orange County Records for Dee'ls.
No «3 of deeds, on page 584, &c. The
Hong Kong &
Shanghai
Banking Corporation,
8.
which
said
White and wife to the
lots
described
is
i
xecut- d by
Boston .\gency,
-
WHITE,
Master.
Green,
Complainants'
&
Bro.,
Turner
&
Co.,
yanufacturers and Dealers
In
COTTONSAILDUCK
And
ail Idndfl of
COTTON CANVAS. fKLTfNO DUCK. CAR COVER
ING, BAGGING. K.WENS DUCK, SAIL TWIKB8
*0. " ONT.\1'.IO SKAMLES8 BAGS,
'
AWN7NG
'
Also.
'-jU
supply
Widths And colors alwoyi
*11
Doane
No. 109
The
STI-.IPES.'
AeenU
Banting Companr.
I'aited States
A
in stoct.
Street.
Christian Advocate,
NEW YORK.
LEADING NEWSPAPER OF THE METHODIST
EPISCOPAL CHURCH.
Circulation orer 69,000 Copies Weekly.
THE PUBLISHERS
BUSINESS HOUSES
THE CHRISTIAN
ADVOCATE present to
stant habit of using its
Of
its
readers, in Its week-
SEC-
ly issues, a paper
Who
are in the con-
Columns
Adrertlalng
iNDOaSK IT HIOHLY
OND TO NO OTHER
as an Advertising
PUBLICATION
dium that
liind
In
Of its
the world in
patronize.
it
Me-
pays to
Reason
:
Its
point of actual merit.
readers are of the bet-
That the membership
ter class in every
of the Church appreci-
munity where
ate this fact
the
It
is
evinced
large
present
;
comcircu-
in tact. Just the
people that first-class
Business Houses desire
to reach.
PARTICULAR ATTENTION is given that
and
no Advertisement cal-
of
culated to mislead the
circulation
New
lates
it
has a large local
around
the
In
cities
York, Brooklyn.
Jersey City and Phila-
aad
BL'b.OK,
ISCaAOa'JJY ST.
BrinckerholT,
STEADILY INCREASING CIRCULATION of the paper.
i
.
Y
N.
PHILADKLPHtA,
DAYTON, ai I'"VSTVTTT Strbkt.
W
J.
'
George A. Clark
JE.,
ST.,
Mills.
yoltK,
White STE««r.
15
and
City,
Commercial Cards.
.
eight hundred and sixty-nine, or which it
afterwards acquired, and which are necessary,
material or useful in connection with the ownerahip, use or operation of the afo'esaid railroads.
Also all the rights of the said railroad company,
defendant, to the telegraph erected and used along
.it» aforesaid railroads. Exceptii g; however, all the
TaHroads of said railroad company known as the
ITeatem Extension, extending from the town of
Cortland to Freeville, and from Freeville, in the
county of Tompkins, westwardly and nortliwardly
to some point on the Niagara River, in the county
of Erie, and including in such exception any interest
in or right to the use of the track or railroad of the
Utlca Ithaca & Elmira RK. Company between Cortland and Freeville. And excepting also three par•celaof lahd in the village of Middletowu, in the
coanty of Orange and State of New York, con-reyed by the said railroad company to the defend-«M> P«Tta Q, Wtoft«Id, by 4««d dat«d tb« drtt day
From Various
.NK'.V
43 it
in
Soli* itors,
No. ISO Broadway,
New York
WALL
59
Hosiery, Shirts and Urawers
Henry
the delivery of the deed so much of the total purchase-money shall be paid in cash as shall be necessary to pay anddischarge the certificates issued and
to be issued by the receivers of the said railroad
heretofore appointed in this cause, with the interest
acrrued and to accrue thereon, together with all
oiher obligations, liabilities or indebtedness of the
said receivers; and there shall also be paid in cash
so much of the said purchase-money as shall be
necessary to pay and discharge all unpaid taxes not
assumed by tlie purchaser upon the said mortgaged
premises, and all the costs, fees, allowances and
compensation provided for in said decree, as
well as all the expenses of the said sale. Forthe remainder of the puichase-money, the Master will
receive any of the receivers' certificates, or any of
the past-due coupons and any of the bonds secured
by the aforesaid mortgage set forth in the bill of
complaint, each such certificate, coupon and bond
being received for such sum as the holder thereof
would be entitled to receive under the the distribution ordered by said decree, and according to
the priorities therein adjudged.
G.
Agency,
W.PO.MEliOY
AtlaiillR Co-ton i?ltll»,
Saratos-a Victory I'llg Co.,
AND
.
KENNETH
S.
A G K N T ^ F O l:
intleopee Tlfg Co.,
Bnrllnstoii Woolen <7o..
Ullerton New ifillU,
I
•
15, 18T9,
N. Y.
tVaxtsiiietiiii itlllls,
.
i
&
__
ST.,
E.R.Mudge,Sawyer&Co
m
Ai-EXANDEK
New York
M
Railroad Company, and recorded in Orai ge County
Recoids for Deeds, in Liber No. 237, on page 84,
&c The feventh f wh ch said lots is described
a deed of conveyance made and executed by
Bridget Donovan to the Ni w Ye rk * Oswego Mid
land Rail' oad Company, and recorded in Oranj;e
County Records for Deids, in Liber No S26, on
pa^e 254, &c. The eighth f which said lots is def conveyance made and exescribed by a deed
cuted by Eiias F. Morrow lo the New York & Oswego Midland Railroad Company, and recorded in
Orange County Rec rds for Deeds, In Liber No.
238, on pa':e ITO, &c.
The said property will be sold in one parcel.
The sale will be made subject to judgments
obtained for right of way and claims therefor, and
also subject 10 all sums due for taxes, and also
subject to any unpaid claims of any of the emplo ees of the receivers, and of all others for labor
or for supplies furnished for the operation of the
railroad from the time of the first publication of
the notice of sale of the said property, under the
said decree, up to the lime of the delivery of the
deed to the purchaser, so that ihe said claims of
eapioyecsandi thers for labor and supplies shall
not exceed the sum of flfiy ihc usand dollars, which
claims, judgment and taxes shall be assume'i by
the purchaser in addition to the amount of the
purchase money or bid.
Of the whole purchase-money, not less than one
hundred thousand dollars will be required to be
paid in cash at the time of sale, and at the time of
Daed March
1
MUltltAY fOKlSES,}
CENT RAL Sti-.EET. \
J.
New York & Oswego Midland
•
WALL
Jb., 59
AND SHIP AGENTS,
a
in
office,
AGKNT,
POMEBOY
Hong Kong, Canton, Amoy, F<^^Iiovr
Shanghai and Hankow, China.
m
of
W
Russell & Co.,
OM MISSION iTlERCH A<N T S
C
W
deed of conveyance made and
Hong Kong.
Head
m
sixth
XXVIL.
[Vol.
readers of the paper
la
inserted.
delphia, and goes, also,
into every
State
and
COREBSPONDENCE
Territory of the Union,
HkLiX NEEDI.ES.
BROADWAY, NEW YORK.
ITIII.\SrARD>S
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Alden Gaylord,
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St.,
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York,
SOLICITED.
and Canada and"Europe.
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