The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Q u o ta tio n
S u p p l e m e n t (Monthly)
S t r e e t R a i l w a y S u p p l e m e n t Quarter^
I n v e s t o r s - S u p p l e m e n t (Quarterly)
S t a t e a n d C i t y S u p p l e m e n t (wAimuai^
lE n te r e d a c c o r d in g t o A o t o t C on g ress, in th e y e a r 1 8 9 7 , b y th e W i l l i a m B . D a n a C o m p a n y , in th e o ffice o l th e L ib r a r ia n o l C on gress.
VOL. 64.
SATURDAY, MARCH 27, 1897.
NO. 1,657.
Week ending Manh 20.
J J fe je
( f t h t o u i t l z .
P U B L IS H E D
For One Y e a r.................................................................................... $ 1 0 0 0
6 00
For S ix M onths............... ................................................................
European Subscription (tnolndlng postage)......................... 1 2 00
European Snbsoriprten Six M onths (including postage).
7 00
Annual Subscription in London (including p osta ge)___ £ 2 1 0s.
S lx M o s .
do.
do.
do.
___ £ 1 1 0 s .
The I n v e s t o r s ’ SUPPLEMENT w ill be furnished without extra charge
to every annual subscriber o l the Co m m e r c ia l a n d F in an c ia l
C h r o n ic l e .
The St a t e a n d C it y S u p p le m e n t w ill also be furnished without
txtra charge to every subscriber of the C h r o n ic l e .
The 8 t r e e t R a il w a y S u p p lem en t will likewise be furnished with
out extra charge to every subscriber of the C h r o n ic l e .
The Q u o ta tio n S u p p l e m e n t , issued m onthly, will also be furnished
without extra charge to every subscriber of the C h r o n ic l e .
File covers holdingeix months' issues or special tile covers for Sup
plements arc sold aft 5 0 cents each ; postage on the same is 18 cents.
Terms of Advertising—(Per Inch space).
O n e tim e ..................................... $ 3 5 0 |Three M onths (13 tim es). .$ 2 5 00
One Month
(4 tim e s).. 11 0 0 Six Months
(26 “
) . . 43 00
Two Months
(8
“
) . . 18 0 0 I Twelve M onths (52 «
) . . 58 00
(The above term s for one month and upward are for standing cards.)
London Agents:
M essrs. E d w a r d s A S m it h , 1 Drapers’ Gardens, E . C ., w ill take sub
8 or\ptlons and advertisem ents,and supply single oo u e s o f the paper
a t I s .e a c h .
B. DANA C O M P A N Y , Publishers,
P in e S tr e e t, C o r n e r o f P e a r l S tr e e t,
OIT O m o t BOX 9 5 8 .
NEW
YORK.
C L E A R IN G H O U S E R E T U R N S .
The following table, made up by telegraph, eto., indicates
that the total bank clearings of all the clearing houses
of the United States for the week ending to-day, March 27,
have been $907,059,374, against *9S3,-488,475 last week and
Cle a r in g s .
Returns by fdegraph.
New York
............................
Philadelphia ............................
Baltimore . ..............................
New Orleans ............... .
1897.
1890.
1897.
P. Cent 1
New Y ota..............
Philadelphia.........
Pittsburg...............
Baltimore..............
Buffalo...... ............
Washington..........
Rochester..............
Syracuse................
Scranton.............
Wilmington...........
Binghamton.........
Tota Middle....
*
556.8-55.12
57,970.91
12.844,75
13,8)7,50
3,348.55
1,860.55
1,413,83!
785,45
65U.641
58 \45
818.70
650,484,991
1
533.320.22!
02,231 54i
14.293.89;
li.03 j,22i
3,097,218
1,823.861
1,7< 5 33'
932 2 'E
668,0 7-4
065 06E
293,301
053,967,16C
+0-1
-6 6
-io :
-i*{
-1 3 7
+2*C
-17-:
—15*8
-5
—11*<
+S*S
-0 5
Boston............
Providence.........
Hartford.... . . . .
New Haven........
8pringfleld.. . . . .
Worcester........
Portland.............
Fall River..........
Lowell................
New Bedford—
Total New Eng...
88 486 015
4,u67,y0<
2,199,13!
1,409.88'
1,230 171
1.317 80c
1.029,7 it
763.59
513,411
422,29;
102.309.860
80,319,051
4,780, IOC
2,058,117
1 185,041
1,168.010
1,330.03
1,(81,39
H08.73;
5-6 01300,910
93,717.017
+101
+3 l
+0-1
+18-1
+6-1
-l'<
—3*2
-6 8
-7 5
+17 0
+9*2
83,261 630
4,764.400
1,667.714
1.190.232
1.274,131
1.212,382
1,011.621
7oL,445
577,042
348.474
96 059.672
___ 354,055
82.404,342
Chicago..................
Cincinnati...............
Detroit....................
Cleveland................
Milwaukee.............
Columbus...............
Indianapolis..........
Peoria.....................
Toledo.....................
Grand Rapids........
Dayton....... ...........
Lexington..............
Saginaw.................
Kalamazoo...........
Akron......................
Bay City.................
Rockford.................
Springfield, Ohio...
Canton....................
Tot. Mid. West’ r.
73.470.51C
10,783,750
6,327.2
5,510.3 T
3,778.487
4,5' '0 00(
1,032.401
1,418 377
1,295.077
79 j.878
563,800
335.400
28<\O00
232 391
297,00.
178,05(
175.511
133,669
122,805
110,840,180
83.375,187
12 006.10
5,0M,4d7
5,3u5.88*
4,417.35;
3,081.20u
1,900.491
1,895,944
1.405,271
7u0,tr5‘
641518
329 8 >9
240,001.
283.l02
273.557
201,95*
286,117
147,212
190,016
123,095,604
—11’9
—10*J
—0‘i
+4*1
—14-5
+22-1
—10 7
-25-1
—7*6
+12 t
—12 2
+ i-i
+10*7
-1 0 5
+ 89
-31*7
-3 8 9
-9 3
-35*5
—iu*t
81,279.315
11.259.950
5,-36.244
4.784,371
3 961.060
3 071.500
1,141.083
1.997,944
71,440.156
10.495.300
4 792,944
3,807.944'
8,731,358
3.017.000
992 801
1.885,500
313,808
400,410
238,196
236.3P7
253,192
226,369
189,809
155,340
115,725.084
28el90&
244.597
187,971160.000
194 901
261,500
150 430
___ 132 461
101,938,469 »
San Francisco......
Salt Lake City......
Portland................
Los Angeles..........
Tacoma.............
Seattle...................
Spokane.................
Fargo......................
Sioux Falls...........
Total Paciflo....
12,184,487
915.15)
8)5.547
1,0.5,532
368,6)4
438,914
499 COu
81.7L5
45,033
10,729,024
11.613,363
1,218.274
912 741
1,098,33*
497,7*8
550.371
381.70;
143,046
107,254
16,522.878
+7 5
-2 2 +
—10*6
-4 8
—259
—203
+30-7
—39 4
-5 8 0
+ra
8.601,203
940 261
1.153,105
948.475
498.809
480,8.i2
325.000
131.962
68.0a3
14.2C7.793
9,880,094
1.040.000 i
699.932
819,000
484,641
357,009
230,789’
79,191
133,932’
13.931,785
Kansas City..........
Minneapolis..........
Omaha.............
8t. Paul.................
Denver............... ..,
Davenport..............
9.530.930
4.4 7,795
4,119.909
8,438 050
2,2(0.052
483,325
1,226,196
967,724
579,392
205.042
390,030
433,782
52.980
76,120
28.164,144
9,458,124
5,525.944
4,463.397
4,232,695
2,837 739
1.300,000
1,200.000
938,875
£50,708
296,282
452,260
410,901
61,618
01,917
31,783,520
+08
—20-2
-7 -5
-18-9
—20-8
-02-8
+2-1
+2-0
+5*2
—30*0
-12*4
+6*6
—18*0
+ 230
—11-4
9,485 8c9
5,417.415
3.390,990
3,459.068
2,758,147
8,578,462
3.841,604
4,341,065
2.495 635
2.4E8 880
22,993,419
8. <35,130
5,583.490
2,098,400
2,509,813
1,709,08?
1.920,809
2.018.134
1,229.905
1.084 153
981,830
912,788
787 965
000.358
839,677
348,849
£83,273
290,257
244 970
239,031
51.914,2:2
23.182,006
9,117.V48
5,209.1H4
2,450,085
2,002,268
2,020,584
2,634.942
2,039,203
1,211,479
1,132,120
819.685
1,007,992
069,450
089,250
715,601
403,939
425,105
349,421
308,430
262,552
60,631.230
—08
—11*9
+7-2
—14*4
+28*3
-1 2 4
—27*1
—1*0
+1-6
-4*2
+19*7
-9*4
+19*5
—129
+17-3
—13*6
-9*1
—15-2
-20*6
-6*1
-3*0
W EEKLY.
Terms of Subscription—Payable in Advance:
W ILLIAM
(Hearings at—
Week Ending March 27.
1897.
$427,913,374
43,778,914
10,568,395
57,620,348
19,608,619
5,626,914
1896.
Per Cent.
45-4
49*7
$403,852,256
63,929.969
50,188.569
9,871,550
64,534.085
17,150,040
+14-3
8eveu cities, 5 days ........
Other cities, 5 d a y s .............
$635,306,080
119.984,371
$620,402,725
115,477,922
4 2-4
+ 39
Tofcil all cities, 5 days .. .
$755,290,451
151.768,923
$735,880,647
+2-6
+10*5
Total all cities for week
$907,059,374
*873.182.945
+39
lu c iu ii uuwuaui uiearmga ior one week covered by the
above statement will be given next Saturday. We cannot,
of course, furnish them to-day, bank clearings being made
up by the various clearing houses at noon on Saturday, and
hence in the above the^ last twenty-four hours of the week
have to be in ail cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the pre
vious week, covering the returns for the period ending with
Saturday noon, March 20, and the results for the corres
ponding week in 1896, 1895 and 1894 are also given. Con
trasted with the preceding week, there is an increase in the
exchanges of about sixty-nine and a quarter mil
lion dollars, and at New York alone the gain is n* arly sixtya
millions. In comparison with the week of
1896 the total for the whole country shows a decrease of 1*3
per cent. Compared with the week of 1895 the current
loivJ1? 8
an inore*se o f 3*2 per cent, and the excess over
ion! .18o 5 ^ P®r cent» Outside of New York the loss from
1896 is 3-7 per cent. The decrease from 1895 reaches O o per
making comparison v .th 1894 the gain is seen to
be 14*3 per cent.
Des Moines.,
Tot. other West.
Galveston................
Houston................
Savannah................
Richmond...............
Memphis......... .
Atlanta....................
Dallas.......................
Nashville................
Norfolk..............;. ..
Waco........................
Fort Worth............
A u g u sta ...................
Birmingham...........
Knoxville...............
Little Bock...........
Jacksonville.........
Chattanooga...........
Total Southern..
1995.
1894.
$
524.582,612 416 ?17,029'
83.751,7 It
47.26S 165
12.486,890
10 ft* 2.472
11,737.207
in 169,824
3,655 838
3 117,737
1,817.602
1 30 S£87
1.413,372
1.160,687
834,648
768,8*3
632 221
5 4 113
6S1.174
«36 890
317,600 ___ 291,900
021,810,913 492 209.787
927,930
71.103,584
3 85-0.900
1.470,583
1,173,427
1,112 480
970.059
1,172.959
682,0831
468,212;
595,681
1,043.006
853,429
600,000
349,130
553,374
609,441
69,029
57,673
29,003.717
1,131,006
955,918
579.962
402,347
504 264
027,165'
90,864'
102,993 •
20,110,151
23.073.275
9.099.848
5.452,989
2,459,300
2,260,009
1552.052
2,114,670
1,703,076
1,055,(93
1,11-3,068
894 809
989,181
1,287,709
732,953
600.000
303,072
19,487,140
7,088.350
5,775 708
1.773.292
1,649,960
1,924,189
8,018,407
1,387.555
920,189l k065,00C- •
841,897
869,863:
576,000
643.885
357,e08
807.777
209,218
60,348,177
279,71357
410,720"'
197.083
40,763,507
003,468.474
975,717.442
—1*3
983,215 350
768,368.124
406,613.349
422,397,214
-3*7
408,082,714
347.041,096
8,917.498
6,991 877
1,099,017
868,602
Wlnnlp»c.........
518,419
Hamilton..........
443,655
St.John*...........
Total Canada.
17.416 043
wNot Included In’ totals.
8,905,373
6.807.374
1,018,851
926,547
578,308
+0*1
+3*2
+7 9
-7 3
-4*8
11,031,140
5.043.473
882.351
096.454
528,985
10.100.000
17.231,453
+1*1
18,131,403
Total all..............
Outside N. York.
Montreal...... .
Toronto .........
H allfn
..........
2,290.416
910,550
700,000
633,173
THE CHRONICLE.
588
77/A' FINANCIAL
SITU A TION.
An event this week completely unsettling the values
of railroad securities at the Stock Exchange, and con
sequently giving more or less of a set-back to recupera
tive movements generally, was the announcement of
the decision bv the United States Supreme Court,
which was construed as bringing every traffic associa
tion of the roads under the Trust law of 1890 and
thereby presumably making them all illegal combina
tions in restraint of trade. We have written an article
with reference to the scope and results of this decision
on a subsequent page and need not enter upon those
matters here. It is sufficient to say in this column that
the decision was made in the Trans-Missouri Freight
Association case, and except inferentially only deter
mined of course the status of that arrangement. But
on Monday, when the announcement was made, a
much broader view was taken of its consequences
that caused it to be at once widely disturbing,
the market further yielding under a selling pres
sure by those interested in low'er prices. Tuesday
the general weakness continued, it still appearing, ac
cording to the morning press reports, that the man
agers of the railroads throughout the country were in
clined to regard the decision as affecting all railroad
combinations. By Wednesday, however, this belief
was modified in some measure, it being claimed that
so far as the Joint Traffic Association was concerned it
would probably not be affected. Since then, there has
been a little better feeling apparent, but anxiety over
the possible results has continued to be the important
feature in business circles.
We notice that Mr. J. Pierpont Morgan, before
leaving for Europe on Tuesday, stated as his opinion
that the events of the last two years have greatly les
sened the possible results of this decision. He added
that during the last twenty months one-third of our
railroad mileage has been reorganized, and the
basis of reorganization will form the protection
against wholesale rate cutting; the power to make
rates has been taken away from freight agents
and lodged with the boards of directors and the
railroad presidents. There were also additional safe
guards thrown around the properties reorganized, in
that voting trusts were in almost every instance formed,
good for five years. These conditions which Mr. Mor
gans refers to will no doubt prove conservative influ
ences. And yet as we look at it the ruling of Judge
Peckham is so broad that an immediate appeal to Con
gress for relief appears very desirable. To be sure there
is much in that opinion which seems to have been unnci i ssary for a decision of the case before the Court;
so far as that exists it is mere dictum. Dictum, how••vi ;. adopted by a majority of the Court is enough to
at least throw doubt about and unsettle confidence in
all •ontracts and arrangements to such an extent as to
prevent for the time being their enforcement. This
means that rate wars are again a threatened outcome
of the conditions, and that of course signifies that
this great carrying industry is once more to be con
demned to a state of unprofitableness.
Here is a thought that the entire business public—
not by any means investors alone or chiefly—are
interested in. We do not need to show what breeders
o f general prosperity railroads are when they are
allowed to make the money they need to spend for
their sustenance and growth. The business man well
Jtnows how much added labor under such circum
S lV OI,
LXIV,
stances they directly employ ; how many allied indus
tries they at once set in motion; how many other trades
their demand puts a spirit of activity and enlargement
into. This is all so well known that the railroad inter
est in general estimation lias become the pulse that
measures and announces the degree of prosperity
the country is permitted to anticipate.
Every
one is aware, too, how low freight charges are
at the present time and that there are railroad com
missioners both .National and State empowered every
where to prevent rates ever going high enough to he
unjust or burdensome. Under these circumstances
does it not behoove the public to bestir itself and urge
upon Congress to at least pass an act declaring that
the Trust law of 1890 does not include railroads? We
are all looking forward to an era of prosperity. Re
cent weeks have given fresh signs of its coming. Shall
we let this new risk stand in the way of the benefits so
nearly within reach?
Both the Atchison management and the Southern
Pacific management are to be congratulated upon the
arrangement which has been perfected between them
for the exchange of certain pieces of road in the two
systems. Under this arrangement the Atchison will
acquire full ownership of the Mojave division, now
operated under lease by it, and the Southern Pa
cific will acquire the Sonora Railway, in Mexico,
now the property of the Atchison, together with
the
connecting piece of road on the north,
namely the NTewr Mexico & Arizona, also owned
by the Atchison, the two together forming a line ex
tending from Benson, Arizona, to G-uaymas, Mexico
— 350 miles. As we understand the arrangement, the
sole consideration paid in each case is the line to be
acquired by the other—that is, the exchange is an
even one. That it is very desirable for the Atchison
to own the Mojave line there can be no doubt. The
company has just acquired the Atlantic & Pacific,
and the piece of road mentioned will complete the
system, giving the Atchison an unbroken line under its
absolute ownership extending from Chicago all the way
to the Gulf of Mexico in the one direction and all
the way to the Pacific coast in Southern California in
the other. The Atchison has quite an extensive sys
tem of mileage in Southern California and the Atlan
tic & Pacific and the Mojave division constitute the
connecting link between that mileage and the main
stem of the Atchison. Moreover the Atchison now
has to pay a rental of $436,266 per annum for the 242
miles of road constituting the Mojave division, and this
it will save under the change made. The rental was
considered very onerous, and doubtless if the present
arrangement had not been arrived at, the Atchison
would in the near future have taken advantage of the
provision in the general mortgage and built a new
line at a reduction in charges. Of course while the
company under the new arrangement saves the rental,
it will lose the net revenue now derived from
the operation of the line from Benson to Guaymas which
it gives
in
exchange for
the
Mojave division. But this line is disconnected
from the parent system, and the Atchison has never
been able to operate it to the best advantage, so that
the net income from it is, roughly, only about $150,000 per year. On the other hand, to the Southern
Pacific the line should prove very valuable, as it con
nects directly with that system and forms a natural
extension of the same to the Gulf of California. Mr.
Huntington already has very extensive interests in
THE CHRONICLE.
March 27, 1897.J
Banks loan at 2 per cent over the counter, but the ma
jority, as well as the Trust companies, are represented
in the Stock Exchange with offerings at the current
rates. Not much business is reported in time loans
and rates are 2 per cent for thirty days; 24 per cent
for sixty days ; 3 per cent for ninety days to four
months; 34 per cent for five to seven and 4 per cent
for eight to nine months on good mixed Stock Ex
change collateral. The business in commercial paper
is fair and the bulk of it is done at 4 per cent, and
though quotations remain unchanged very little paper
is accepted below the above-named rate.
The banks
are not buying much paper, having full lines, and the
demand from other purchasers is moderate. Rates are
34 per cent for sixty to ninety day endorsed bills re
ceivable, 34@4 per cent for first-class and 4@5 per
cent for good four to six months single names.
The European political tension has been relaxed this
week so far as regards affairs in the Levant, but to
ward the close some uneasiness was felt in London
concerning the South African situation. The pacific
blockade of Cretan ports by the Powers began on Sun
day morning. It was reported on Wednesday that
there had been a renewal of Armenian outrages, and
this news is said to have induced England to refuse to
order the British fleet to assist in the proposed block
ade of Greek ports, though it has been announced that
England will acquiesce in such blockade. The Bank
of England’s mimimum rate of discount remains un
changed at 3 per cent. The cable reports discou nts of
sixty to ninety day bank bills in London 14 per cent.
The open market rate at Paris is 14 per cent and at
Berlin and Frankfort it is 3 per cent. According to
our special cable from London the Bank of England
gained £365,190 bullion during the week and held
£40,045,735 at the close of the week. Our correspond
ent further advises us that the gain was due to the im
port of £480,000, all of which was from Australia, and
to shipments of £115.000 net to the interior of Great
Britain.
The foreign exchange market was strong until
Ihursday, when it grew easier, though not quotably
lower, for short sterling, while sixty-day bills were
firm. The early strength was reported to be due to
a scarcity of bankers’ and commercial bills, and it was
said that the market had absorbed about all the run
off bills then offering, while the commercial drafts
were chiefly for remote delivery and held at such high
figures as to make them unavailable. At the same
time there were a few bills against provisions and some
grain. The easier tone for short sterling on Thursday
was reported to be caused by a lighter demand for
remittance while the firmness in long sterling
was attributed to an insufficient supply, .anj
it was also said that buying of these bills for in
vestment had been renewed. Bankers are of the
opinion that it is possible to figure out a profit upon
such transactions, and that if money can be borrowed
here at 1 4 per cent for sixty days, and if the rate of
4 88, which has been bid for sight bills deliverable late
in May, is maintained, the difference between retaining
and borrowing upon sixty day biffs bought at 4 85f
and sending such bills abroad for acceptance and dis
count, including the stamp, would be about 4 of 1 j^er
cent. Bankers who are investing may have money
which they cannot employ at remunerative] rates in
our money market, and therefore they may be plac
ing it in long sterling. The range for postedJgat.es
was unchanged on Monday at^4 86 to 4 864* for
Mexico, and we may rest assured he will make it a
profitable investment.
We print in another part of to-day’s issue of our
paper, under the head of Reports and Documents, a
very complete digest of the new Reading mortgage for
^135,000,000. As the securities of the reorganized
company will shortly be ready for delivery, much in
terest will be taken in studying the terms and pro
visions of this important document.
As stated by
us in our railroad news columns last week, the
R e a d i n g C o m p a n y is the owner of all the stock
of both the Philadelphia & Reading Railway Company
and the Coal & Iron Company, and also of all the
other stocks and bonds which were formerly owned by
the Railroad Company, as well as of various other prop
erties, and all these stocks, bonds and properties are
made subject to the mortgage. The combined prop
erties in the year ending November 30 1896—a period
of very unfavorable conditions— earned a surplus of
$808,064 over the charges as they will stand after the
reorganization has been fully carried out. During the
current fiscal year, pending the completion of the
refunding schemes, the charges it is thought may be
$300,000 to $400,000 larger than this.
A number of returns of railway net earnings for
February have been received this week and several of
them make a much better showing than those for the
months immediately preceding. The Cleveland Cin
cinnati Chicago & St. Louis reports $14,712 increase
in gross, $7,159 increase in n e t; the Northern Central,
$105,853 increase in gross, $118,749 increase in
n e t ; the Allegheny Valley, $2,501 decrease in
gross, $4,152 increase in
net ; the Central
of New Jersey $27,389 increase in gross, $37,277 in
crease in net; the Southern Railway $61,338 increase
in gross. $75,150 increase in net; the Alabama Great
Southern $20,986 increase in gross, $9,500 increase in
net: and the Georgia Railroad $2,006 increase in gross,
$1,330 decrease in net. The following furnishes a fouryear comparison for a number of companies that
have this week and last week submitted exhibits for
February.
_
1887.
Same of Road—
Alabama Gt. Southern...
4
Gro«t
Net
Allegheny Y alley.............
Vet
Buffalo A Snsrjuebanna.... ..Gross
Net
Central of New Jersey . .. ..Gross
Net
Cln. N. Or!. A Texas Pnc.. .Gross
Net
Clev. Cln. Cb. A St. Coals. ..Gross
Net
Peoria A Pastern........... .O ross
Net
Georgia ......................
Net
Jack. Tampa A Key West. . Gross
Net
Nash. Chat. * St. Louis...
Net
N. 7. Susq. A Western......
Net
Northern Central................
Net
Pitts. Cln. Cbic. A St. L ... .Gross
Net
Plus. Youngs. A Ash........
Net
Pan Fran. * No. Pac. ...
Net
Southern Railway ...
Net
9nm. Br. A Lvkens Val ...
Net
West Ya. Cent. & Pitts .. .Gross
Net
127.415
29.66 i
169.222
5*,922
34.*81
13.262
848,939
26 .957
861 M l
94,'6 i
9-6.460
242 530
117.249
43.221
352.060
57.743
27.984
4.625
420 9*2
154,521
143,841
55,903
648.631
205.62*
1,009.272
209.172
• 5-» 638
12.8M
42.K58
4.680
1,57 ’.922
508.750
127.603
def.*.o«l
77.260
20,548
1896.
f
106,429
2.-.162
171.823
62 7T0
3 '.623
12.192
8 1.519
218,680
866 655
- 7.871
970.748
235,361
139 490
36.8*»6
150.054
59.073
30.668
4,180
419,33 4
145.375
144.168
52,178
442.778
86,879
1,177,000
224,610
68.658
7,883
50.953
4,452
1,509.584
433,001
135,006
23.96*4
73,139
28,985
I8V4.
18»5.
t
1
1 8 011
109 000
26,2*0
169,058
152.214
51.280
69.461
23 695
8.703
761.661
793,735
221.704
183,581
239.8*7
280,000
56.915
970.931
876.303
2 4.920
228.391
127.721
114.M3
37,931
15.167
124.980
89,056
12.356
40,6 il
46.739
162.175
51,7(10
6 761
340,832
357,511
135.391
136.294
157,984
126,798
18.304
42,610
448.888
398,570
119.157
10rf.ll5
1,081 178
1.012,718
203,8jl
168 535
81,036
54,596
12,439
27,503
45.056
47.517
7.803
3.626
1,448.292
1,2*1.908
383.310
438,320
158,054
105,006
16.8d2 def.41,«oi
70.955
67.237
22,256
24,401
Money on call h a s been easier this week and in
abundant supply at the Stock Exchange. Hankers
balances have loaned generally at 14 per cent, with
soine at I f and only .small lots at 2 per cent. The
average for the week has been barely 1# per cent!
587
I’BK (JKKONK)LK
o6
sixty-day and 4 8.4 to 4 884 for sight, compared
with Friday of last week, but rates for actual busi
ness were one-quarter of a cent higher all around
-at 4 K5J@4 80 for long, 4 87^@4 874 for short, and
4 874(5 4 87f for cable transfers, and the tone was
strong. On the following day there was no change in
the range, hut Brown Bros, and the Bank of British
North America advanced the short rate half a cent,
and the market was firm though without any alteration
in rates for actual business. On Wednesday the posted
rates were 4 8<>4 for sixty-day ami 4 88 to 4 884 for
sight, the Bank of Montreal, the Canadian Bank of
Commerce and the Merchants’ Bank of Canada ad
vancing both long and short half a cent, but rates for
actual business remained unchanged and the tone con
tinued firm. There was no alteration in the range on
Thursday, and none in rates for actual business, but
the market was firm for long and easier for short
sterling. Yesterday much the same conditions ruled,
the tone being easier, but with no change in either
posted or actual rates. The following shows the daily
posted rates for exchange by some of the leading
drawers.
D AILY POSTED KATES FOR FOREIGN EXCHANGE.
W gr>
Mo n .
FB I..
T e n s ..
T k d k ..
FBI
M ar. 10. M ar. 22 Mar. 23. M ar, 21. M ar. 25. Mar. 20
C0 days.
'B row n B ros,....... 5( Sight..
Baring,
5 60 days
M agou n & Co. (SiK ht...
B ank Britisfi
f 60 days.
N o. A m e r ic a .. 1 SiRht...
Bank o f
M o n t r e a l......... I K S ? •Canadian Bank (6 0 days,
o f C om m erce.. i S igh t,...
■Hetdelbacb, Ick- ) 60 days
elh elm er & Co <Sight...
(6 0 da y s.
dLaaard F reres.. 1 S ig h t....
M e r ch a n ts ' Bk, ( 60 d ays.
o f C a n a d a ...... (S ie b t ....
m y
88
mu
8 »S
f-s ji
88
86
88
86
88
» m
M «
s-s
£0
88
*-6
85
86 »*
88
86 ^
c8
86
87 y
f 8*
86
s?y
8614*
c 6»*
m y
MM
m y
m y.
88>i
S6M
m y
m y
8>g
em
SSM
802*
88
862*
88
sex
bSM
80
F6
88
8
;8M
86^
88
86
87}*
MM
S8M
MM
m y.
say
fSM
>6*
88M
my
s-M
S6M
8sy
my
m
86M
my
m
m
m
c«M
88
862*
88
88
The market closed easier on Friday at 4 8(i4 for
.sixty day and 4 88@4 88^ for sight..
Rates for ac
tual business were 4 85|@4 86 for long, 4 87|@
4 87i for short and 4 87^@4 87-f for cable trans
fers.
Prime commercial bills were 4 85@4 85^ and
documentary 4 84^@4 84|.
The following statement gives the week’ s movements
of money to and from the interior by the New York
banks.
W m * E n din g Mar. 26,1867.
R eceived by Skipped by
N . r . Banks. N . Y . B in to
O o r r o n o y .............................................
Gkoia ............................................... ...
T o t a l g o ld a n d le g a l t e n d e r s ___
Hfet Interior
Movement
$ 4 ,4 8 2 ,0 0 0 ' $1 ,6 9 3 ,0 0 0 G a in ,$ 2 ,789,000
21,009
429 ,000 j
108,000 G am .
$ 4 ,9 1 1 ,0 0 0
$ 2 ,1 0 1 ,0 0 0 G a in .$ 2 ,810,000
With the Sub-Treasury operations the result is as
follows.
•W eek Ending M ar. 26.1897.
Banka* In te r io r m o v e m e n t.a s a b o v e
B a b *T re a a a ry o p e r a t io n s ....... ...........
Into
Banks.
$ 4 ,911,000
11,000,000
Oat o f
B anks,
j
V«t Change in
j Bxr,ik Holdings.
$ 2 ,1 0 1 ,0 0 0 G a in .J2.810,'M'O
13 ,0 0 0 ,0 0 0 L o s s . 2 ,000,000
T o t a l g o ld an d le g a l t e n d e r s ........ $15,91M K )0 $15 ,1 0 1 ,0 0 0 G ain .
$ 8 1 0,00 0
The following table indicates the amount of bullion
in the principal European banks this week and at the
corresponding date last year.
M ar, 26, 1897.
JBanfc o f
Gold.
M ar. 26, 1896.
Silver.
Total,
Gold.
£
£
£
Silver.
to ta l.
£
48,703.957
40,04X785 . . . . . . . ,|! 4 0 /45,785 48,703,95
76,787.118! 49,085,87 2 125.872,400 78,318,031 40,972,260 IV 8.2 '0 209
30*822.000
31,30.»,001
ilo,604,799
14,101,250 43,983,750
48,814,400
Germany....
31,0 i 1,000 12,62 7,000! #3,038.000 20.210,000 12.758.000 38.977,9« O
8.004.000 10.430.0 < 18,484,000
8.528.000 10,800,00* | 19*888,101
S p a in .,,. . . . . .
2.033.000 0,008.000: 9,029,004
2,024,0(0* 6.917,or r
9.57100*
N e th e r la n d s .
2.504.000 1,4,32.000i 4,29 3,00 j
3.951 O' f
3.034.000 1,317,000
N a C B e lg ln m .
lln g la n d
F r a n c e ,. . . . .
T o t, this w eek 193,078,451 00,005,171 289,083,025 190,327.400 95.835,510 291,081.000
Y T o t.p re v .w ’ k 192,134,932 96.242,028 288,370.961 197.7,*-8 113 00.719,180 294.507,202
t h e
[VOL. L X IV .
s u r r e m e c o u r t D E crsrox
tx
t h e
T R A N 8 -M J S S O ( 111 F R E I G H T ( 'A R E .
It is a long time since u decision promulgated by
the l nited States Supreme Court has produced such
a deep feeling of disquietude as that announced this
week in the case of the Trans-Missouri Freight Asso
ciation. It is not merely that the Court, has made a
rulilag which is at variance with that of all the other
courts that have had to pass upon the question, and
which runs counter to the opinions held until now by
the best and ablest lawyers in the country, but that the
effect of the decision (if it is to he given broad gen
eral application and extended to all eases where rates
are fixed through the agency of traffic associations or
other like bodies) must be to overturn established
usages in the railroad world, throw the railroads back
upon primitive methods in their relations with the
public and with one another (as far as the fixing of
the price of transportation is concerned), and leave
them for the time being utterly helpless.
The Court decides that the Sherman Anti-Trust
law of 1890 applies to the case of railroads, and that
the Trans-Missouri Freight Association comes within
the scope of the provisions of that law forbidding com
binations in restraint of trade or commerce. This is a
view of the matter for which most people were wholly
unprepared. Until the United States District Attor
ney brought an action in the Circuit Court at Topeka,
Kansas, asking for the dissolution of the Association,
no one had seriously contended that the Anti-Trust
A ct was meant to cover the case of the railroads. In
deed it was plain from the language of the Act and from
the discussions preceding its passage that it was the
aim of the law-making body to reach a wholly differ
ent- class of combinations, namely the industrial cor
porations or trusts, which were then in the hey-day of
their existence. Section 1 of the law reads: “ Every
contract, combination in the form of trust or other
wise, or conspiracy, in restraint of trade or com
merce among the several States, or with foreign
nations, is hereby declared to he illegal” .
The language, it will he observed, is very broad, and
it is on this the Supreme Court rests its contention
that railroads are included within the provisions of the
statute. But other sections of the law, and particu
larly the 6th section, seem to make such a view wholly
untenable. Section 6 reads: “ Any property owned
under any contract or by any combination, or pursuant
to any conspiracy (and being the subject thereof)
mentioned in section one of this act, and being in the
coarse o f transportation from one State to another, or
to a foreign country, shall be forfeited to the United
States, and may be seized and condemned by like pro
ceedings as those provided by law for the forfeiture,
seizure and condemnation of property imported into
the United States contrary to law” . We have here a
repetition of the same words as those in the first
section— “ contract” , “ combination” , and “ conspiracy”
— and as they are used in connection with the clause
whichjjwe have put in italics, namely “ and being in the
course of transportation” , &c., this would appear to fix
their meaning, and make it evident that it was the com
modities the subject of “ contract” , “ combination” ,
or “ conspiracy” which the law-maker intended to
reach and not the agencies of transportation. And
with all due respect to the Supreme Court we fail to
see how this sixth section can be reconciled with the
idea that the law was meant to embrace the operations
March 27
7 I
THE CHRONICLE.
of the railroads. It deserves to be noted, however,
that the Court was pretty nearly evenly divided on
the question, five of the Justices (Messrs. Peckham,
Fuller, Harlan, Brewer and Brown) being ranged on
the majority side and four (Messrs. Field, Gray,
Shiras and White) on the minority side.
The judges in the lower courts had equal difficulty
in seeing how the law could be construed so as to cover
the carrying interest. The case originally came before
Judge Riner at Topeka, and later went on appeal to
the Circuit Court of Appeals, sitting at St. Pairl,
Minn. Both tribunals upheld the legality of the
Freight Association, and we reviewed their opinions at
length in the C h r o n i c l e of October 7 1893. Judge
Riner said that the test must be whether the agree
ment or contract attacked was prejudicial to public
interest. While contracts which have a direct ten
dency to prevent healthy competition are detrimental
to the public, and therefore must be condemned, con
tracts which go to the length only of preventing u n
h e a l t h y competition are lawful. He also pointed out
that the term competition must be construed in its
broadest sense, so as to include other considerations
besides the mere question of rates. For instance,
there may be competition as to the kind and character
of the service, as to time, as to facilities and accommo
dations, and in various other ways. He stated, too, that
he had been unable to discover in the contract im
pugned a single element of monopoly. “ The public
is not entitled to free and unrestricted competition,
but what it is entitled to is fair and healthy competi
tion, and I see nothing in this contract which neces
sarily tends to interfere with that right” . He likewise
saw nothing to support the claim that it was the purpose
of Congress to make the Anti-Trust law apply to the
railroads. In his opinion its purpose was to remedy a
very different evil.
The Circuit Court of Appeals agreed entirely with
this course of reasoning. Judge Sanborn, who spoke
for the Court, saying that freedom of contract was as
essential to unrestricted commerce as freedom of com
petition, and that one who asks the Court to put re
strictions upon the right to contract ought to make it
clearly appear that the contract assailed is against
public policy. He argued that such an agreement as
the Trans-Missouri Freight Association “ could not he
adjudged to be a contract or conspiracy in restraint of
trade under the Anti-Trust act when it is admitted
that the rates maintained under the same have been
reasonable and that the tendency has been to diminish
rather than to enhance rates, and there is no other
evidence of its consequences or effect” .
As already said, the Supreme Court, speaking by a
majority of its members, reaches a wholly different
conclusion, and reverses the judgment of the lower
courts, so that the Trans-Missouri Freight Association
now stands condemned by the court of last resort
Judge Peckham, who read the opinion of the Court,
said that the case involved two important questions,
the first whether the Trust Act applies to and covers
common carriers by railroad, and if so, second, whether
the terms of the Trans-Missouri Freight Association
violate the provisions of the Act. As to the first point,
a contract that is in restraint of trade or commerce, he
said, is by the strict language of the Act prohibited,
even though such contract is entered into be
tween common carrriers by railroad, and only
for the purpose of thereby affecting rates for
the transportation of persons and property.
“ If
589
such an agreement restrains trade or commerce
it is prohibited by the statute, unless it can be said
that an agreement, no matter what its terms, relating
only to transportation, cannot restrain trade or com
merce. We see no escape from the conclusion that if
any agreement of such a nature does restrain it, the
agreement is condemned by this Act. It cannot be de
nied that those who are engaged in the transportation
of persons or property from one State to another are
engaged in inter-State commerce and it would seem
to follow that if such persons enter into agreements
between themselves in regard to the compensation to
be secured from the owners of the articles transported,
such agreement would at least relate to the business of
commerce, and might more or less restrain it” .
The railroads had contended that the Trust Act was
intended to reach only those who were engaged in the
manufacture or sale of articles of commerce, and who,
by means of trusts, combinations and conspiracies,
were engaged in affecting the supply or the price or the
place of manufacture of such articles. The opinion
holds that the terms of the Act do not bear out such
construction.
“ We see nothing either in contem
poraneous history, in the legal situation at the time
of the passage of the statute, in its legislative history,
or in any general difference in the nature or kind of
these trading or manufacturing companies from railroad
companies, which would lead us to the conclusion that
it can not be supposed the Legislature in prohibiting
the making of contracts in restraint of trade intended
to include railroads within the purview of that Act” .
“ Transporting commodities is commerce, and if from
one State to or through another it is inter-State com
merce” .
Having decided that the law does apply to railroads,
the second question comes up. namely what is the
meaning of the language as used in the statute, that
“ every contract, combination in the form of trust or
otherwise, or conspiracy, in restraint of trade or com
merce among the several States, or with foreign nations,
is hereby declared to be illegal” . Is it confined to a
contract which is only in unreasonable restraint of
trade, the Court asks, or does it include, what the lan
guage of the Act plainly and in terms covers, a l l con
tracts of. that nature ? The Court says it has reached
the conclusion that the Anti-Trust Act renders illegal
all agreements which are in restraint of trade or com
merce.
As to whether the Freight Association agreement
restrains trade so as to be a violation of the Act, the
Court says it has no doubt it does. “ The agreement
on its face recites that it is entered into ‘for the pur
pose of mutual protection by establishing and main
taining reasonable rates, rules and regulations on all
freight traffic, both through and local’. To that end
the association is formed and a body created which is
to adopt rates which, when agreed to, are to be the
governing x’ates for all the companies, and a violation
of which subjects the defaulting company to the pay
ment of a penalty, and although the parties have a
right to withdraw from the agreement on giving thirty
days notice of a desire so to do, yet while in force, and
assuming it to be lived up to, there can be no doubt
that its direct, immediate and necessary effect is to
put a restraint upon trade or commerce as described
in the Act. For these reasons the suit of the Govern
ment can be maintained without proof of the allega
tion that the agreement was entered into for the pur
pose of restraining rade or commerce or for maintain-
590
THK Uh KOWh LE.
ing rates above what was reasonable. The necessary
effect of the agreement is to restrain trade or com
merce, no matter what the intent was on the part of
those who signed it” .
The old Trans-Missouri Association has long since
been dissolved, but the Court seemingly says that all
agreements to maintain or establish rates between com
peting roads come within the prohibition of the AntiTrust law, and therefore are forbidden. However,
while no one would venture to affirm in view of the
broad language of the Court that other traffic associa
tions may not fall within the scope of this ruling, it is
yet evident that there are essential points of difference
between the newer associations, like the Joint Traffic
and the Western Freight, and the older associations,
of which the Trans-Missouri Freight stood as a type.
Whether the difference is sufficient to insure for the
newer kind judicial sanction where the older kind
are condemned, is of course the question regarding
which everybody is at sea.
On this point the
fact that the Court is so evenly divided obviously
is a fact of great importance. For each case will de
pend upon its own special circumstances, and a change
of one vote will suffice to convert the majority opinion
into a minority opinion. Then also a different result
might possibly be obtained through a rehearing. We
make this suggestion because though we have not fol
lowed the case, in its course before the Supreme Court
with that close attention which we would have given it
had we thought there was the slightest possibility of
such an outcome as has now occurred, yet the impression
prevails quite widely that the railroads, feeling abso
lutely confident of the correctness of their position,
did not have all the points argued as fully as they
might have done and should have done.
Still, while we think that no stone should be left
unturned in the effort to secure a re-consideration of a
decision fraught with such serious consequences to the
material interests of the country, it must be obvious
that real, positive relief will have to come from another
direction. The Supreme Court does not make the
laws. It only interprets them. In this case, too, it is
not a Constitutional provision but merely a statute
that is involved. The statute can be changed or re
pealed, or altered in any way to meet the requirements
of the situation. Hence it is to Congress we must turn
for a remedy ; and the duty to provide the remedy
without delay is certainly imperative. Assume that
under this latest decision traffic organizations and
agreements of any kind for the maintenance of rates
are illegal, and what follows? In that event railroads
can no longer act collectively but must act individu
ally. The result could only be industrial chaos and con
fusion. In the present highly developed state of railroad
transportation, each road can no more act singly and
individually in matters affecting all the roads than the
citizens of a municipality can act singly in matters af
fecting the whole community, such as the opening of
streets, the building of sewers or the securing of fire
and police protection. Action must be had through
some central body or organization, no matter how con
stituted.
The carrier in his operations is obliged to make
rates not only on a thousand different articles but he
must make them to a thousand' different points—to
points on his own line, to points on connecting,
adjoining and intersecting lines. Without knowledge
as to what other roads were doing, rates would be
wholly haphazard, the result of chance, whim and
I V O L . LX1V.
caprice, ever fluctuating. There could be no uni
formity or stability. The roads would always be work
ing at cross purposes, for they could not learn each
other’s intentions except by consulting with each
other and agreeing upon a common plan of action,
and this, according to the Supreme Court decision (or
at least the inference generally put on that decision),
would be in restraint of trade and therefore void. In
other words, under such conditions the fabric of rates
would collapse. The consequences are hard to meas
ure. As rail transportation enters as a factor into
nearly every branch of trade, the effect necessarily
would be that the whole internal commerce of thecountry would be deranged and disorganized.
Of course this is not a contingency which immedi
ately threatens. Our railroad managers will not invite
catastrophe by hasty action. Rates having been fixed
by agreement, they can be kept on the present basis
and at the present figures for the time being, even
though the agency through which they were estab
lished should be removed. Rut the contingency men
tioned is probable in the future should the doctrine
announced in the Trans-Missouri case be extended by
the Court so as to apply to the cases of all traffic asso
ciations and bodies for establishing rates, and no rem
edy provided meanwhile. For obviously one disgrunt
led manager could in such event upset the whole pres
ent complex system of rates. The railroad industry is
the largest single industry in the country. It rep
resents a capitalization of over ten thousand million
dollars, its yearly income exceeds a thousand million,
and it gives employment in prosperous times to nearly
a million men. Disaster and ruin to this industry
must by all means be avoided. Congress is now in
session, and it cannot too speedily enact measures
designed to remove any and all doubt as to the legality
of arrangements between the roads for the establishment
of uniform and stable rates. The issue has been sud
denly raised, but in our estimation it involves the
possibility of consequences hardly less momentous
than those ’ involved in the enactment of tariff and
currency legislation.
V A G A R IE S
O F
T R E A S U R Y
B O O K K E E P IN G .
Probably there never was a time in a period of pro
found peace when it was so essential and desirable that
the people of the United States should be correctly in
formed as to the condition of the Treasury and the
relation between receipts and disbursements as at the
present moment. The Government revenues, as we
all know, have been running behind for many months,
and Congress has just been convened in extraordinary
session to correct this defect, and is now considering
a new tariff bill expressly devised to overcome the de
fieiencies in revenues. Rut as it happens, just when it
is most important that we should know the exact facts,
the Treasury statements, owing to faulty bookkeeping
(or rather owing to imperfect methods of accounting
under which the bookkeeping results are presented in
a misleading form), leave us in a state of utter per
plexity as to the actual situation of affairs.
Any one who has studied official statements and
documents during the last two months must have
been bewildered and amazed, as we have been, at the
great variety of results that could be deduced from
the published figures. Indeed, so widely have these
results differed that it was possible to reach almost
any conclusion suited to one’s desires and fancy. If
it was desired to show a very large current deficiency,
Mabch 27, 1897.1
THE CHRONICLE.
591
the figures were ready to hand to prove the gonten- for only about 24 million dollars of the difference betion. If on the contrary it was sought to have it tween the 45 millions loss per annum and the 180
appear that the deficit was small, the official returns millions loss. How then is the discrepancy to be ex
could be cited to sustain that conclusion also. That plained, and what is the real amount of loss? The
this is not an exaggerated statement will appear from Government paid off in January $9,712,000 of Pacific
a brief examination of the published figures. The Railroad bonds. It would seem at first sight that this
Treasury issues what is known as a monthly debt operation could not have affected the result, since,
statement. According to the present form of the as already stated, the accounts of the Pacific roads
statement, this does not pretend to show the actual are presented in a separate table, and there has
net debt or the changes in the same. Bat it suman- never been anything to indicate that they were not
rizes the bonded and other indebtedness of the coun wholly distinct. But on investigation we find that
try and also furnishes an account of the cash in the it is that operation that is chiefly responsible for the
Treasury, and by deducting this latter from the former discrepancy. For it appears that while the Pacific
the result ought to reflect accurately the net debt Railroad bonds are never included in the official total
from month to month. There is also at the extreme of the Government debt, the cash held in the sinking
<D
end of the statement, set off from the rest of the funds for those roads, and which it was supposed was
figures, a table showing the Pacific Railroad indebted held entirely separate, is commingled with the general
ness—principal, interest, sinking funds, ^cash, &c.—- cash in the Treasury, and as a consequence the matur
which has always been treated and considered as a sep ing Pacific bonds paid off in January had to be paid
arate and distinct matter, having no connection with out of this general cash, thus presenting a wholly er
the other statements and figures.
roneous view of the Treasury situation.
What, then, has been the course of the net debt in
It may be asked, did not the Government sell bonds
recent months ? Let us take the month of January held in the sinking fund to procure the cash, and did
for example. Comparing the figures of net debt on not the one transaction count as an offset to the other ?
January 31 with those on December 31. there was an The Government did obtain some five millions of cash
increase during January in the sum of 115,078,735. in that way, but it was received in December and went
From that the conclusion seems authorized that the to swell the Treasury cash in that month and not in
Government fell that much behind during the month. January. It follows of course that the result as
The amount appears large, to be sure, but criti worked out from the debt statement was wrong in both
cism is disarmed when one recalls that heavy interest months—being five million dollars too favorable in De
payments have to be nude in January, the aggregate cember and not favorable enough by $9,712,000 in Jan
amounting to over 7 million dollars. The correctness uary. Moreover, as the railroad sinking funds previously
of the result, moreover, seemed to be put beyond doubt held five millions of cash, the results in the earlier
when the changes in the money holdings and the cash months must also have been disturbed to the extent that
balance were considered, both showing equally heavy the cash was accumulated in those months. The Treas
contraction—the m oney holdings having fallen off ury reported altogether $10,373,534 of cash in the sink
ing funds with which to meet the $9,712,000 of bonds,
$10,312,663 and the cash balance $12,957,959.
When the figures of receipts and disbursements, and to show how utterly absurd and misleading the
however, are analyzed, totally different and much whole monthly debt statement is we find that though
smaller changes are found. According to the returns all this cash was long since taken up in the general cash
first furnished, the disbursements in January ran and $9,712,000 of it paid out in January to redeem
only $5,952,395 ahead of the receipts, and this also maturing bonds, the debt statement for March 1 actu
was the amount used in President McKinley’s mes ally reports the entire amount of cash, and a little more
sage; by the corrected returns the excess was substan too ($10,578,402 71), as still held in the sinking fund.
If we deduct the $9,712,000 of Pacific Railroad
tially the same, or $5,837,985. This is without the
operations on account of the national bank redemption bonds paid, from the $15,078,735 apparent increase in
fund. Including those operations, the revenues fell the debt, arrived at above, the increase is reduced to
$3,831,539 behind, according to the original return, $5,366,000, and this does not differ very greatly from
and $3,717,129 according to the corrected figures. Thus the $5,837,985 deficiency in revenue reported for that
by one method of calculation the deficiency for the month. The February results by the different meth
month was less than 3 f million dollars; by another it was ods, it will be seen, do not vary greatly except so far
over 15 million dollars. It will be interesting to bring as they have been affected by the operations in connec
together in tabular form the results as computed in tion with the bank fund.
Nor is this the only time that the debt statement
the different ways mentioned above.
We add the
has been entirely misleading. When the bond con
changes for February computed in the same way.
tract with the Morgan-Belmont Syndicate was beingJanuary.
February.
Apparent increase in debt..................... $15,078,735
$4,592,137 carried out, the whole amount of cash received on the
Diminution in cash balance................. 12,957,959
2,525,165 foreign half of the loan counted in the Treasury cash
Diminution in money holdings.......... 10,312,663
5,266,047 on July 1 1895, while the entry to represent the
thirty-one million dollars of bonds issued to obtain
Disbursements over Receipts —
Without bank note fund.......... ........... 5,837,985
4,395,059 the cash was not made until the next month.
With bank note fund ......................... 3,717,129
2,302,304 The daily statements from Washington are often
Now what is the correct amount of deficiency for equally full of pitfalls for the unwary. Thus, when
January ? The 15 million dollar loss would be at the coupons or bonds are redeemed the practice is to
rate of 180 million dollars a year, the 3 f million loss hold them as assets and leave the available balance un
at the rate of only 45 million dollars. Of course this reduced until the end of the month. The effect was
latter includes the national bank redemption fund, well illustrated in the daily statements a few weeks
which has been adding about two million dollars a ago. On January 30 the Treasury reported its avail
month to the Treasury cash. But that would account able cash balance as $239,227,995; the next day, or
6b2
JTHE CHRONICLE.
rather on February l (January 31 being Sunday), it
dropped suddenly to #315,388,421. The reason was
that on January 31 $16,505,941 paid out through Janu
ary for interest and bonds had not yet been marked oil.
The monthly debt and Treasury statements have
been changed in form a great many times during the
last quarter of a century, but it must be said that the
only time when they were presented in a really intellig
ible form was when Mr. Jordan, the present Assistant
Treasurer at New York, was Treasurer of the United
States. Mr. Jordan completely revised the statement.
He made the Pacific Railroad debt a part of the
Government total of debt, entered the accrued in
terest as a current liability, set aside 100 millions
of gold as a reserve against the outstanding notes, and
treated the fractional silver as an unavailable asset
which it clearly was. Nor would he allow this frac
tional silver to stand as an offset against the debt.
The latter was, perhaps, carrying conservatism too far,
and it certainly had the effect of introducing varia
tions in the total of the debt from month to month
outside of those occurring in the course of the ordinary
business of the Government. But that was the only
exception to be taken to the arrangement. In 1890
Congress tried its hand at bookkeeping and
di reefed that the national bank note fund
should ' no longer be treated as a currentliability hut counted as part of the Treasury cash. In
1891 Secretary Foster went a step further and again
re-east the form of the statement. He eliminated ac
crued interest, took out the Pacific Railroad bonds and
generally discarded the excellent- features introduced
by Mr. Jordan. Though a new administration came
into power in 1893 the. form was not again altered, and
it has been continued in this shape up to the present
date. We t-ook occasion when Secretary Foster first
issued the new form of statement to show that it was
absolutely worthless as affording any indication
of the Treasury situation, and experience has demon
strated the truth of the criticism. It is high time that
a change was made to something clearer and better.
THE ENGLISH LIBERALS AND
EUROPEAN CONCERT.
THE
It has been obvious from the start that the combina
tion of the Errropean Powers to coerce the Govern
ment of Greece might meet with some domestic ob
stacles. Among the peoples ruled by parliamentary
governments a note of protest was sounded early in
the controversy. In England, naturally, this protest
found its most emphatic public expression. It cul
minated a week ago in the remarkably vigorous pamph
let of Mr. Gladstone, and in the positive repudiation
by the Liberal leaders of further endorsement of proTurkish diplomacy. The party, in the words of Lord
Kimberley, its leader in the Upper House, “ repudiated
and utterly refused to accept a policy based upon the
integrity of Turkey". Along with this came the sharp
collision in the House of G1ommons on Thursday of last
week between the Ministry and the Opposition, when
Mr. Balfour, driven squarely to the wall by the search
ing questions of Sir William Harcourt, Sir Charles
Dilke and Mr. Morley, turned on his antagonists and
defied them to invite a vote of censure.
Mr. Balfour’s challenge was entirely safe.
The
Salisbury Ministry went into power in 1895 with a clear
plurality of 183 House of Commons votes over the
Liberals, and subsequent bye-olections have only in a
[Von,. £Xi V'..
slight degree impaired this great advantage. Never
theless, although last week's events could hardly serve
to shake the Ministry's present control in Parliament,
they were exceedingly important as defining- for the
Opposition Party a distinct change in its fundamental
policy. Lord Kimberley indeed laid emphasis on the
fact that this was a real reversal of opinion. He
frankly acknowledged that he had for many years sus
tained the policy of the Turkish Empire's integrity as
the key-stone of Great Britain’s Continental diplomacy.
But lie added that “ a policy which has been treated
as a mere fiction by every Power in Europe is no longer
a sound basis for the European policy of this country."
In other words, the Liberal leaders in both Houses of
Parliament, with the applause of all their followers,
declared in favor of the disruption of the Turkish
Empire. Some time the Liberals will return to power;
when that occurs, last week’s positive declarations will
be remembered.
Mr. Gladstone’ s pamphlet, published in the form
of a letter to the Duke of Westminster, took even
more distinct ground against the use of European
diplomacy to maintain the so-called “ Turkish integ
rity” . This keen and brilliant political diatribe, com
ing from a man of eighty-seven, would be sufficiently
remarkable as a literary achievement only. Lt is,
hoxvever, even more noteworthy as a review of Turkish
history, and of the relations of the Powers to that
history, by a- statesman who has had a most important
hand in that series of international episodes. Mr.
Gladstone shows, with frequent references to events in
which he was himself concerned, that each successive
collision between the Ottoman Empire and its tribu
tary States has resulted, first in intervention by the
Powers, finally by the separation of these States from
Turkey, with the official sanction of the rest of
Europe. “ The integrity of the Ottoman Empire” ,
Mr. Gladstone pointedly suggests, lias “'had a differ
ent meaning in almost every decade of the century
noxv expiring. In 1830 it meant that this baleful sov
ereignty had been abridged by the excision of Greece
from Turkish territory.
In 1860 it meant that
the Danubian principalities, now forming the
kingdom of Roumania, had obtained an emancipation,
virtually, as it is now formally, complete. In 1878
it meant that Bosnia, with Herzegovina, had bid fare
well to all active concern writh Turkey ; that Servia
was enlarged, and that Northern Bulgaria was free.
In 1880 it meant that Montenegro had crowned its
glorious battle of 400 years by achieving acknowledg
ment of its independence and obtaining great acces
sion of territory, and that Thessaly was added to free
Greece. In 1886 it. meant that Southern Bulgaria had
been permitted to associate itself with its northern
sisters” . In short, lie submits conclusive proof that
Lord Kimberley’s affirmation is true, and that theduty of Europe to keep intact the Ottoman Empire’s
territory is a “ mere fiction” of diplomacy.
This aggressive attitude of the Opposition cannot be
easily interpreted except as a plain declaration that the
Liberal leaders do not believe the peace of Europe to
be involved in the Cretan situation. The conservatism,
even of a factious Parliamentary opposition, in the face
of a genuine diplomatic crisis, is notorious. When dan
ger of a serious rupture actually threatens, the free cross
questioning of the Ministry in the House is instantly
suspended. Intimation by the Ministry that answers
to such questions would be against the public policy is
invariably sufficient at such times to silence public
Mabch 27, 1897.]
THE CHRONICLE.
593
criticism. ' It is this well-known fact which lends par Governor for Crete under Turkish suzerainty—ru
ticular importance to the open attacks upon the Gov mored occasionally in the newspaper dispatches, pro
ernment’s present policy. Mr. Gladstone’s letter adds posed by the apologists for the Greeks at London and
to the impression that public men are ceasing to take suggested even by Mr. Gladstone—may conceivably be
in serious part the talk of European war. Very adroitly, the goal towards which the British Ministry is work
he refers to the partial dismemberment of Turkey ing. Undoubtedly such an end would be subserved if
in 1880, under the auspices of the Powers; add the foreign Ministry of France could be detached from
ing, significantly, that “ there was no war in Russian influence, and the French Ministers are per
Europe, though doubtless this bugbear would haps not impervious to flattery from the House of
have been used for intimidation had our pro Lords.
ceedings passed beyond the stage of privacy” . In a
For the time, at all events, conviction that the prob
seemingly almost parallel movement to coerce the lem is approaching some such compromise solution
Greeks in 1886, the demonstration by the British seems to be increasing. The international problems
Government was begun by Lord Salisbury, was con to arise from the “ pacific blockade” are discussed as
ducted in the face of little criticism, and was con matters chiefly of academic interest. As might have
tinued, after a reversal of Parliamentary majorities, been anticipated, some of our own Senatorial experts
with Mr. Gladstone himself as Premier. It was in fact on international disputes have raised the question
Mr. Gladstone and Lord Rosebery, and not their Con longingly, and have expressed a half regret that we
servative opponent, who ordered that year’s blockade possess no Cretan trade through which to stir up con
of the Pirreus. It is not perhaps unnatural that troversy. European comment has a rather similar
people should accuse both Mr. Gladstone and the ring of curiosity devoid of serious concern. Even the
Liberals of inconsistency in attacking now a policy foreign security markets have recovered sharply, not
which they personally put in practice eleven years ably the public funds; and, as we have seen, the British
ago. To us, however, this very change of attitude opposition is already scoffing at the notion of serious
seems most significant as showing that conditions, too, results. Under such circumstances, the diplomat who
have changed. If the Liberal leaders believed to-day, manages to bring the matter to an issue without an
as they believed in 1886, that the general peace of outbreak of hostilities, without a quarrel between the
Europe hung in the balance of this Cretan negotiation, Powers themselves, and without a serious sacrifice of
dignity, will doubtless have achieved a victory. A
their present policy would be inconceivable.
Whether this Parliamentary opposition has or has Disraeli could have made as much of such achievement
not exerted any actual influence on the action of the as of the Treaty of Berlin.
In precisely what position the “ European concert”
Powers is a difficult matter to determine. That the
governments are at least resolved to make a formal will be left, supposing such a compromise issue to the
show of coercing Greece— a David facing six Goliaths, whole affair, is an interesting question. Usually,
as Mr. Gladstone contemptuously describes the situation when Turkey was defended in the past some other
—is an obvious fact. It is no less obvious that the argument than Turkey’s welfare was effectively
British Ministry is resolved to keep its place in this employed. In 1886 the interference of the Powers
European coalition even at a sacrifice of personal I with the plans of Greece was publicly based on the
self-respect. Nothing more singular in European : alleged friendliness of the other governments to the
diplomacy has been witnessed in many years than the |State which they blockaded. The interference was
Premier’s reference to the Ministry of France |“ in Greece’ s own best interests” , the London newspa
as the single oracle on the situation.
On the pers alleged. “ Europe” , said the “ Spectator” when
sixth of February the Chancellor of the British the British men-of-war threatened the port of Athens,
Exchequer was bitterly scoring France for its “ which defends her from Turkey, has always a right
“
unwarranted meddling ” with the English plans of intervention.” It is somewhat noteworthy that no
in Egypt and was threatening summary meas ! such apology has been advanced this year. It is very
ures to restrain the Paris Ministry. On the six plainly Europe which is defending now not Greece
teenth of
March—only one month later—Lord but Turkey; and it is growing evident that, however
Salisbury replies in the House of Lords: “ The policy the diplomatists may cling to old traditions and pre
of the Powers was explained in the speeches of MM. tenses, the people have had enough of both.
Hanotaux and Meline. If I have not used their bril
liant language, it is my misfortune and not my fault” .
IM P O R T S A N D E X P O R T S F O R F E B R U A R Y .
There is possibly a strain of characteristic cynicism
The Bureau of Statistics has issued a detailed statement of
even in this speech: but no one could better under
the foreign commerce of the country for the month of
stand than Lord Salisbury that the position chiefly February, 1897 and 1896, and for the eight months ending
vulnerable to caustic wit was that occupied by himself. February 28 in 1896-97 and 1895-96, as follows:
M E R C H A N D IS E .
The comment of the Premier’s early diplomatic guide,
February.
8 mos. end. Feb. 28.
Lord Palmerston, on such a public declaration would
$722,259,986
1896-97.—Exports—D om estic----- . ... $77,796,210
have been brief, pointed, and not at all flattering to his
12,690,539
....
1,977,188
pupil’s feelings.
$734,950,525
T ota l........... ..................... . . . . $79,773,398
$2! 2,037,639
[mports— Free of duty....... . . . $32,730,490
But Lord Salisbury is not the man to place himself
210.434,246
Dutiable.............. . ... 26,463,378
in such an attitude without good reason. If he made
$422,471,885
.
.
.
.
$99,193,868
T ota l.................................
a sacrifice of personal dignity and prestige, he must
$312,478,640
Excess of exports............................. . . . . $20,579,530
have anticipated some return for it, and it is this un 1895-98.—Exports—Dom estic . . . . . . . . $76,378.143
$590,281,348
12,385,525
1,323,761
Foreign...............
doubted fact which lends peculiar interest to the prog
$602,666,873
Total........ ....................... . ... $77,701,904
ress of these manoeuvres in diplomacy. It is possible
$260,226,804
Imports—Free of duty —
280.968,029
Dutiable.............. . . . . 33,961.924
that the English Premier may be able later on to
$541,194,833
.
.
.
.
$62,478,116
T
o
ta
l.................................
claim the credit of having settled the Cretan question
$61,472,04 0
satisfactorily to all concerned. The project of a Greek Excess o fe x n o rts ............................ . . . . $15,223,778
THE CHRONICLE.
591
|VOL,
LX1V
In this country the sympathy for Greece is almost univer
sal, Indeed it has been so from the very beginning of the
1896-97.—E xports..
troubles, and the sympathy in France and Italy is now almost
I m p o r ts ,....
as great. For a long time the French people hardly dared to
E xcess o f im ports.. .............. .................
$208,003
$64,179,972
1895-96.—Ex ports.
$82,123,811 assert their real feelings through their regard for the Russian
Im ports.......
28,480,819 alliance, but during the past few months all considerations
$53,642,992 of that kind have been overcome by the action of the Cretans
E xcess o f im ports.. ................................ $9,375,389
and the support given by Greece. So general, indeed, is the
GOLD IN ORE.
sympathy now that the French Government was obliged at
1896-97.—E xports.
$240,521 the beginning of the week to promise that it would take no
Im ports.......
1,861,214
action without consulting the Chambers. Italy is less free,
$1,620,693
o f course, to take an independent action, but in that country
1 8 9 5 -9 6 .- E xports..
$56,953
Im ports........
1,305,682 the public feeling threatens to carry away the Governm ent
with it,
E xcess o f im p o rts.. .................................
$92,907
$1,248,729
Under these circumstances the opinion has begun to grow
SILVER COIN AND BULLION.
in Paris, as well as in London, that a better understanding
1896-97,—E x ports.. ................................... $4,660,362
$41,760,222
Im ports.......
8,200,204 will grow up between France and England, and that the
E xcess o f ex p o rts.. ................................. $3,897,420
$33,560,018 Russian Government, through its desire to maintain the'
1895-96.—E xports..
$40,201,344 entente with France, will aot with both. Austria-Hungary
im ports-----9,443,140
will do anything that is likely to maintain the peace. For
E x cess o f e x p o rts..
$30,758,204 the moment, therefore, Germany is the chief difficulty. The
SILVER IN ORE.
Emperor has put himself forward very prominently; his lead
18 96-9 7.- E xports.
$879,543 has been recognized neither by England nor by Russia, and it isI m p o r ts .....
12,401,320
believed that he feels very sore therefore, and would be very
E xcess o f im p orts..
*11,521,777 glad to seize any opportunity to make himself unpleasant to
1895-96.—E x p o rts..
$465,306
Im ports.......
9,832,097 this country. But little doubt is entertained for all that that
the concert o f the Powers will be maintained and that a
E xcess o f im p orts..
$9,366,791
peaceful settlement will be arrived at.
In South Africa the situation is serious. President Kruger
S Toci-; E x c h a n g e C l e a r i n g - H o u s e T r a n s a c t i o n s .— T h e obstinately refuses to make any concessions of any kind to the
subjoined statement includes the transactions of the Stoi k
Exchange Clearing-House from March 15 down to and in Uitlacders. His attack upon the Judicial Bench has produced
cluding Friday, March 20 ; also the aggregates for Jan an exceedingly bad impression all ever Europe as well as
uary and February in 1897 and 1800,
South Africa, and there is no denying that Mr.
Rhodes’s evidence before the Committee of Inquiry has
8TOOK BX0HAH9B OLBABMO HOUSE IBANSAOTIOKF.
profoundly changed opinion in this country. A little while
—■Shares, both sides.—, -------- B alances, one side--------- Sheett
Cleared, Total Value,
Shares, Value Shares. Cash, Cleared ago the feeling was against the authors of the raid, Mr.
189B$
$
$
J a n u a ry .. 1S.20S.500
987,700,000
1,011,300
88,100,000 1,115,000
fi.STfl Rhodes’s frank acknowledgement of his own responsibility,
F eb ru ary. 17.001,900 1,088,BOO,0C0
1,906,500
108,300,000 1,384,100
8,261
the readiness with which he spent vast sums of money for
2 m os... 32.3O3.4C0 3,038,30n,000
3,619,700 191,700,000 2,8( 9,4C0 13,137
what he considered patriotic purposes, his summing up of the1897January.. . 12.0C0.7G0 778,000.000
74.900,000 1.068,900
1.425,500
5.900 hostile policy pursued by the Boers, and his reference to Ger
February,,. 10.223.600 700,500,000
1,096,500 69,500,000 879,400
6,218
man interference, have all told upon English opinion. It will
2m os... 22.224,300 1,$87,600,000 2.522.000 134,400,000 1,918,300 11,148 require much tact and judgment, therefore, to bring about
e—Shares, both sides —*
.--------Balances, one sid e.------- , Sheets
Shares. Value Shares Cash.Uleared a peaceful and satisfactory settlement.
Cleared, Total T af»c,
$
1897—
9
$
In India the famine is growing worse, and there is not very
M ar.15... 842,700 63,200,000
97,000 6,100,000 73,100
321
'■ 16. . 823,700 53,300,000 100,300 5,500,000 58,900
320 much improvement in the plague; but fortunately the money
“ 17. . 786,000 53,200,000
327
78,300 4,400,000 98,000
“ 18. . 660,400 46,50' ,000
71,900 4 ,400,00u 41,900
315 market is becoming somewhat easier.
“ 19. . 922,100 67,700,000
97,600 6,000,000 62,000
325
Under all these circumstances business upon the Stock
Tot. w t. .4,034,900 283,900,000 445,100 26,400,000 338,910 1,608 Exchange is very restricted, although there has been a re
W klaBtjr3,243,100 209,600,000 343,500 18,000,000 328,100 1,520 markable recovery in many departments during the past
Mar. 22. . 956,800 65,300,000 105,100 6,000,000 70,600
333 week.
The American market has not been so active as some
“ 23. . 636,600 50,200,000
63,600 4,t 00,000 50,900
303
“ 24. . 847,200 57,900,000
88,900 5,300,000 102,300
325 others, as both investors and operators are waiting for theu i 5 1.329,100 91,200,000 129,000 7,300,000 102,100
342
“ 26. . 339,500 23,900,000
36,400 2,100,000 25,300
257 discussion of the Tariff bill. But in foreign government
stocks, British railway stocks and in mining shares there has
l o t . wk. 4,109,200 288,500,000 423,900 25,200,000 351,200 1,565
Wklastyi 3,1£9,400 203,100,000 326,900 18.300,000 2 f9 ,5 0 0 1,484 been a considerable upward movement. The advance in
“ The stocks cleared now are American Cotton Oil common, foreign stocks came almost entirely from Paris. The recovery
American Spirits common and preferred, American Sugar in mining shares has been brought about by the buying back
common, American Tobacco common, Atchison common of “ bears.” It is clear now that there is a very large bear
and preferred, Baltimore & Ohio, Central of N. J., Chesa account open, although it is possible that much of it is only
peake & Ohio, Chicago Burlington & Quincy, C. C, C. & St.
L., Chicago Gas, Chicago Milwaukee & St. Paul common, apparent. That is to say, that the great mining houses have
Chicago & North Western common, Chicago Bock Island & sold stock which they do not wish to deliver but which they
Pacific, Delaware & Hudson, Delaware Lackawanna & West can deliver if necessary. At all events, for the time being
ern, Erie, General Electric, Lake Shore & Michigan South the bear account is large. At the Stock Exchange settle
ern, Louisville & Nashville, Manhattan, Missouri Kansas &
Texas preferred, Missouri Pacific, National Lead common, ment, which began on Tuesday morning, the bull account
New York Central, New York Ontario & Western, New York was found to be greatly reduced and there was exceedingly
Susquehanna & Western preferred, Northern Pacific pre little demand for loans. Bankers were able to obtain only
ferred, Pacific Mail, Beading, Southern Bailway common & about %% per cent on the average.
preferred, Tennessee Coal & Iron, Texas & Pacific, Union
Rates in the money market are fairly well maintained be
Pacific, United States Leather common and preferred, United
States Rubber common, Wabash common and preferred, cause the collection of the revenue is on an immense scale
Western Union and Wheeling & Lake Erie common.
and is transferring very large sums from the outside market
to the Bank of Eogland. On the other hand, from now till
the et d of March the payments out of the Exchequer will
be immense, Under our fiscal system all moneys not paid by
L o n d o n , S a t u r d a y , March 13tb, 1897.
the Govrrnment within the financial year, which ends with
[From our ow n correspondent.]
the 81st of March, must be handed over to the Treasury and
There Is a more hopeful feeling regarding polities this weekj cannot be disbursed without a fresh vote of the House of
not only in London but in most Continental capitals, and Commons. Therefore contractors and others to whom money
especially in Paris. The Greek reply to the Powers is neither is due by the Government will all send in their claims during
an acceptance o f their conditions nor a direct refusal. It the next three weeks. Furthermore, all official salaries, which
leaves the door open for a compromise, and it is certain that are payable quarterly, will be paid about the 25th, and the
the British, French and Italian governments are using all interest on the rational debt will be distributed on the 5th of
April, In consequence of all this the pay ments out of the
tbt ir icfluerce to get the best possible terms for Greece,
February.
8 mos. end. Feb. 28.
$1 1,515,934
78,695,906
aetargl © a r a r a e v c i a l s
THE CHRONICLE.
H aehh 27, 1897.]
Exchequer are likely to be exceedingly large during the next
three or four weeks.
It is also expected that exceptionally large amounts of gold
■will be received both from South Africa and Australia dur
ing the next few months. The imports into South Africa
greatly exceed the exports in value, and it seems likely,
therefore, that the balance will have to be covered by ship
ping more gold than usual. Australia, owing to the small
ness of its wool clip and the damage done to the wheat crop,
is not likely to be able to pay the interest on all its loans by
the exports of commodities. Those best informed, conse
quently, look for greatly increased shipment! of gold. It
seems reasonable to conclude, therefore, that during the next
few months the rates of interest and discount in London will
rule very low. O ' course speculation may spring up at any
moment if political anxieties are removed, and trade, in
spite of everything, continues very good.
The silver market is neglected, and the India Council has
difficulty in disposing of its drafts at satisfactery prices. It
offered on Wednesday 40 lacs of rupees, but disposed by pub
lic tender of only about 33 lacs. Since then, however, it has
sold the balance by private contract. The average price ob
tainedon Wednesday was Is. 3d. per rupee. The Council could,
of course, sell more freely if it were willing to take a lower
price, but the general belief is that the Council is not disposed
to sell very largely. The expenditure on famine relief in
India is on an immense scale and will continue immense
until July or August. The Government Treasuries, therefore,
are hardly in a position to meet many drafts from London.
Consequently it is expected that before long there will be a
considerable sterling loan. The general opinion is that it will
amount to 8 or 10 millions sterling, but nothing is known offic
ially, though it is expected that the Indian budget will be
p u b lish e d o n th e 1 8th o f th is m o n th , and th a t in it th e p o lic y
o f th e G o v e r n m e n t w ill b e d ec la re d .
T h e im p o r ts sin ce J a n u a r y 1 h a v e been a s f o l l o w s :
I m ports .
1 an n ary..........
F ebruary___
1897.
£
3 9 .9 75,668
37 ,2 4 5 ,1 6 4
1896.
£
3 8 ,4 7 3 .8 5 6
3 5 ,4 7 6 ,7 3 6
Difference.
£
+ 1 ,5 0 1 ,8 1 2
+ 1 ,768,428
Per Cl.
+ 3-90
+ 4 -9 8
3 m o n th s...
77 ,2 2 0 ,8 3 2
7 3 ,9 3 0 ,5 9 2
+ 3 ,2 7 0 ,2 4 0
+4*42
T h e e x p o rts sin ce J a n u a r y 1 h a v e been as f o l l o w s :
E x po r t s .
January...........
F e b ru a ry ........
1897.
£
1 9 ,7 62,378
1 7 ,8 64,682
1896.
£
2 1 ,1 16,491
1 9 ,7 04,095
Difference.
£
—1,3 8 4 ,1 1 3
— 1,839,413
2 months
3 7 ,6 50,918
4 0 ,8 50,536
—3 ,199,663
.
Per Of.
—6 f 4
—9-33
—7-83
T h e re -e x p o rts o f fo r e ig n a n d c o lo n ia l p ro d u c e sin ce
Janu
a r y 1 s h o w t h e fo llo w in g c o n tr a s t:
R e -e x p o r t s .
January.........
February ........
1897.
£
4 ,1 7 7 ,8 2 5
5,2 2 4 ,1 3 8
1896.
£
4,8 0 6 ,3 8 4
5,6 1 7 ,5 9 3
Difference.
£
— S28.559
—393,455
Per 01.
— 13-08
—7-00
2 m o n th s...
9,3 7 9 ,1 2 3
1 0 .12J .977
— 1,0 1 4 .3 5 4
—1 0 0 2
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols.
& c., compared with the last three years:
18* 0.
1894.
1895.
March 13. March U.
March 11.
£
£
£
25.034,915 24,893,195 21.025,930
Circulation ........................ .
13,033,007 10,604,925 10,389,387
Pablto deposits. ..........................
40,255,082 80.512,254 28.160.90 4
Other deposits . .....................
8,933,583
15,157,323 12.409,488
Government securities ............
27,454,217 18,089,287 24,475,054
Other securities...........................
40,630,437 28.874,587 23 5 35,617
Reserve of notes and <nln........
48,371,352 30.937,782 30,751 547
Coin A bullion, both departm’ts
02 7-10
70
ton
Crop, reserve to liabilities.. p. o.
2
2
2
Bank rate ........ ..
.percent.
99 13-16
1092*
104 9-10
Consols, 2H per cent.................
112 1-10
31 7-10d,
27 15-10d * 27*41.
Sliver .................................... .......
29**d.
Clearing-House returns.............120,182,000 119,107,000 110,122,000 109.001,tOO
1SP7.
March 10.
£
25,857,700
10,977.195
33,131,311
14.521,933
23,755,018
30,310,354
39,393,054
54M
3
• March 14.
The Bank rate of discount and open market rates at the
chief Continental cities have been as follows:
Rates of
Interest at
Paris................
Berlin...............
Hamburg........
Frankfort........
Amsterdam....
Brussels..........
Vienna...........
Bt. Petersburg.
Madrid............
Copenhagen...
Mar. 12.
Bank
Rate.
2
3M
3K
3K
8
4
Open
Bank
Market Rate
w
2%
2H
3
2H
2*
m
0
6
4
March 5
4
2
3*
3*
3%
3
4
0
5
4
Feb
Open Bank
Market Rate.
m
2«
2%
2%
2M
2*4
m
m
3+
4
2
3K
3H
3K
8K
8
4
0
20.
Open
Feb 19
Bank
Market Rate.
6
m
2K
2*
2H
2M
2M
356
m
4
4
4
2
4
4
4
3
4
6
6
4
Open
Market
m
m
2a
3
2«
2U
3%
6M
4
4
595
The rates for money have been as follows:
Interest allowed
fo r deposits by
Open M arket R ates.
e
Feb. 12 3
“
19 3
“
20 3
B a n k B ills.
Trade B ills.
Joint
Three
Fou r
S ix
Three F ou r
S ix
Stock A t 7 to 14
Months Months Months Months Months Months Banks. Call. D ays.
m
m
m
w
2@2*4
1%13-16
2
m
1 13-16
2
1H
19-10% 19-10% 1 9-16
m
1H@2
1*6
1%
53
“
12 3
* 1 13-16@1H
Mar.
2@2«
2%
2M
2%
2*
2
2
IX
*
2
1X
1*6
1*
V*
IK
IK
m
m
m
1*6
m
IK
1*6
1*6
Messrs. Pixley & Abell write as follows under date of
March 11;
Gold—E xcepting that the price has slightly receded in the open
m arket, there are no changes to report in the character of the demand.
The Bank has received £450,000 during the week, o f which the bulk
was in Australian sovereigns. £50,000 has been withdrawn for R oumania. A rrivals: Australia, £426,000; New Zealand, £8,500; China,
£20,000; Bom bay, £66,000; Capetown, £170,000; Chili, £1,500; total,
£692,000.
Shipm ents: Bombay, £2,500; Kob6, £ 2 6 8 ,0 0 0 ; total,
£2 70,5 00.
Silver—The general course of the market has been dow nw ard since
our Circular o f last w eek. A fair amount of inquiry was induced by
the low price ruling, bu t in spite o f American sellers being rather in
clined to hold off, the amounts offering have proved rather too muoh
to admit o f steadiness. The Indian price in the Bazaar is quoted to
day as 7 9 34 Rs. per 100 Tolahs. Arrivals: New York, £230,000; Chili
£47,000; total, £277,000. Shipments: Bombay, £43,500.
M exican D ollars—W ith no fresh transactions to report, the nearest
p rice is now 28&ied.
The quotations for bullion are reported as follows:
Go ld .
M a r.
M ar.
L o n d o n S ta n d a r d .
11.
4.
8.
Bar gold, fine___oz. 7 7
Bar gold, parting.oz.
Spanish, o ld .........oz.
New................... oz.
CT. S. gold c o ln ...o z .
Germ’n gold ooin.oz.
French gold ooin.oz.
77
76
76
76
76
76
Sil v e r .
L o n d o n S ta n d a rd .
d.
8. d.
934 7 7 10
10*1
0%
1*2
5%
3%
3%
77
76
ri 6
76
76
76
Bar silver, flne...oz.
10% Bar silver, contain’g
do 5 grs. gold.oz.
O'*
do 4 grs. gold.oz.
1%
5%
do 3 grs. gold.oz,
3% Cake silver......... oz.
3% M exican dollars.oz.
M ar.
M a r,
11.
4.
d.
d.
29U le
29 %
29516
31%
28">i«
29 7s
2911J8
29%
31U ie
28 34
29318 29%
The following shows the imports of oereal produce into
the United Kingdom during the first twenty-seven weeks o
the season compared with previous seasons:
IMPORTS.
1893-4.
1895-6.
1894-5.
1896-7.
Im portsof wheat,owt.36,647,230 34,232,660 34,738.566 30,415,983
Barley....... .................. 14,582,100 14,239,090 16,476,454 18,337,807
7,271,887
7,191,570
7,595,537
Oats.............................. 9,802.000
1,489,843
1,589,010
1,341,089
Peas.............................. 1,970,003
2,920,004
1,999,672
2 ,4 6 1,482
Beans.........« . . . ........... 1,756,610
Indian corn ................. 32,033,430 24,230,200 13,632,014 17,165,974
9,994,592
F lo u r............................12,348,360 11,397,440 10,718,970
Supplies available for consumption (exclusive of stocks on
September 1) :
1896-7.
Wheat im ported, ow t.36,647,230
Imports of hour........12,348,360
Sales o f hom e-grown. 14,575,110
1893-4.
1894-5.
1895-6.
34,232,660 34,738,566 30,415,983
9,994,592
11,397,440 10,718,970
8,708,109 12,221,606 13,394,294
T otal...................... 63,570,700 54,338,209
1895-6.
1896-7.
25s. 4d.
4ver. price wheat, week.23s. 3d.
25s. Id.
Average price, season..29s. 4d.
57,679,142
1894-5.
19s. lOd.
19s. 9d.
53,804,869
1893-4.
24s. 3d.
26s. 5d.
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom :
This week.
W heat..............q r s ... 1,885,000
Flour, equal to q r s ... 255,000
Maize................q r s ... 865,000
E n g lis h
F in a n c ia l
Last week.
2,005,000
275,000
960,000
1895.
3,190,000
443.000
308.000
1896.
2,279,000
394.000
855.000
iT I a r k e t * — P e r
C a b le .
The daily closing quotations for securities, &c., at London
are raported by cable as follows for the week ending Mar. 26^
L ondon .
Sat.
Mon.
Tuts.
Silver, per ounce....... d. 28H1S 281518 28i% 6
Consols., new, 2% p.cts. 11134 1111516 112%-,
112%
F or a c c o u n t............... l l U h s 112
Fr’ch rentes (in Paris) fr. 02-471-2 02-47% 102-45
13%
14^4
Atch. Top. & Santa Fe. 143a
23is
233a
Do
do
pref. 23%
50
50
Canadian P acific.......... 50%
18
18
Chesapeake & Ohio....... 18%
7934
79
Chic. Milw. & St. Paul
79%
40%
41%
Denv. & Rio Gr., p re f.. 4 1 34
14
1414
Erie, c o m m o n ............... 143a
31
34
34%
98
98%
Illinois Central.............. 98*4
173 'o. 173% 173
50
49%
Louisville & Nashville. 50*8
69%
Mexican Central, 4s ... 69*4
69%
13
13
13%
x
103%
104%
102
N. Y. Oent’l & Hudson.
14%
N. Y. Ontario & West’ n 15
1178
28*4
28%
Norfolk <fe West’ n, pref. 28%
37%
377s
No. Pac. p ref., tr. recta. 37%
54%
54%
Pennsylvania................ 54%
12
117S
Phila. <fe Read., per sh.. 12
9
9
9*8
South’n Railway, com ..
29%
29%
Preferred..................... 291a
634
6%
6%
Union P acific...............
14%
14%
Wabash, preferred....... 15
TVed.
28%
1123a
112%
102-50
1334
22%
49%
17%
77%
39 78
14
33%
97
172%
48%
69%
1234
102 %
14%
28
37
54%
113a
8 7s
28%
6*3
14
Thurs.
Fri.
28is16 28%
112% 112
112%8
102 5o 02-32%
13%
1078
213i
21%
48 34
46
17%
17%
77 % x75%
39
38*4
13%
13%
3334
32 %
96%
97
172
4734
47%
69
69%
12%
12%
102% 101*2
14
14%
27%
28%
36%
54
53 7a
11
11 %
8 ‘Q
8 34
28
6
638
13 7a
1378
l HE CHRONICLE.
590
<£ommcvcialan&l$UsccU»ttccms|Jctt!S
N ational B anks.— The following information regarding
national banks is from the Treasury Department:
OORPORATK KXI8TKN0& RXTBHDKU.
2,350—Tire M ahoning National Bank o f Y oungstow n, Ohio, until
Jlaroli IS , 1917.
•2.353—Thi- M oravia National Bank, M oravia, N. Y ., until March 19,
1017.
HESDMl'TIO.N.
1,757—The First National Bank o f Sioux City, Iow a, which was d e
clared insolvent on the 7th o f January, l» 9 7 , ami planed in
the hands o f a receiv er, has been restored to solven cy and
perm itted to reopen its doors fo r business March 16, 1897.
LIQUIDATION.
4,136—The M anufacturers’ National Bank o f Pittsburg, Kansas, has
gone into voluntary liquidation by resolution o f its stootih old eis, dated Maroh 16 ,189 7.
INSOLVENT.
2,795—The Union National Bank o f M inneapolis, Minnesota, was on
March 2 0 ,1 8 9 7 , placed in the hands o f Charles W. Sexton,
receiver.
4.3S2—The M erchants' National Bank o f Jacksonville. Florida, was
on Maroh 17, 1897, placed In the hands o f 12. T. Shuhriok,
receiver.
I m p o r t s and E x p o r t s for t h e W e e k .— T h e f o l l o w i n g a re
t h q im p o r t s a t N e w Y o r k f o r t h e w e e k e n d i n g f o r d r y g o o d s
M ar. 18 a n d f o r t h e w e e k e n d i n g f o r g e n e r a l m e r c h a n d is e
M ar. 1 9 ; a ls o t o t a ls s in c e t h e b e g i n n i n g o f t h e first w e e k in
Ja n u a ry.
FOREIGN IMPORTS AT NEW FORK.
F or week.
1896.
1897.
1894.
1895.
$2,821,241
6,722,621
$3,349,535
6,030,606
$1,811,274
9,282,251
D ry g ood s.......
G en’i m er’dlse
$2,337,601
8,317,285
$10,654,886
$9,543,802
$8,380,191
$11,093,525
Since Jan, 1.
Dry g o o d s .....
Genu mer’dlse
$27,532,698
76,870,919
$35,259,150
74,920,978
$38,154,013
72,901,713
$21,759,605
73,376,976
Total 11 weeks $101,409,617 $110,180,128 $111,115,726
$95,136,581
The imports of dry goods for one week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Maroh 22 and from January 1 to date :
EXPORTS FROM NEW YORK FOR THE WEEK.
1897.
1895.
1896
1894.
F or the w eek ..
Prev. reported
$8,107,256
77,065,914
$6,301,832
78,003,545
$6,381,174
68,092,012
$7,330,872
73,266,662
Total 11 weeks
$85,173,170
$84,308,377
$74,473,186
$80,597,534
{V ol . LX1V.
erty. The proceeds of $3,189,000 of stock at par have also
been used tor the same purpose sinse 1890, and besides a part
of the net earnings, making Ihe total expenditures for im
provements since the year mentioned ov^r $10,000,000] The
first moitgage bonds amounting to $3,968,000 were issued to
pay for the 6,251 shares of the stock of the Chicago West Di
vision Rv. Go., and this maj >riiy interest in the stock esti
mated now worth double its coat is pledged for the consols,
subject to the first mortgage.
The total fixed charges
of the system, less income from securities held, are .$910,915
per annum. With taxes added the charges are $1,016,114,
leaving for the year 1896 a surplus of $864,455. The surplu s
during the last five years has been sufficient to enable the
company to pay dividends regularly upon its capital stock, of
which there is $13,189,000 outstanding. The subscription
lists to the bonds will be opened March 25 and close March 29
or earlier. Application will be made to have the bonds listed
on the New York Stock Exchange. The subscriptions will be
opened also in Chicago bv the Illinois Tru^t & Savings Bank
and in Philadelphia by Messrs. George A. Hahn & Sons.
Goins.—Foliowmg are the cuxreni quotations in gold for
coins:
Sovereigns. „„„..„$ 4 87
N apoleons ......... 3 86
X X R eichm arks. 4 76
25 P e se ta s.......... 4 77
Span. Doubloons. 15 55
M ex, D ou bloons. 15 50
Fine gold b a rs. . .
par
® $4 90
® 3 89
'ft 4 80
4 81
^ 1 5 75
®15 75
^ % prem.
Fine silver b a rs ... — 625s®— 63 »i0
F ive fran cs. . . . . . . — 93 ® — 95%
M exican d olla rs.. - ASH'® — 49%
Peruvian s o l s .. ...— 4 4 ije^ — 46
English silver . . . 4 84 ® 4 88
U. 8. trade d ollars - 65 ® — 75
Auction Sales.—Among other securities the following, no
regularly dealt in at the Board, were recently sold at auction*
By Messrs. R. V . Harnett & C o.:
$10,000 M echanical Rubber Co. 6s, 1 9 1 8
............
....... 96
By Messrs. Adrian H. Muller & Son:
Shares.
105 T he Field & Stone Co.
o f San F rancisco............ $L00
40 Capital Traction C o_____ 50%
17 Old Dominion SB, G o .... 82%
67 W inchester & P otom ac
RR . Co.$25 each. .$20 per sh,
13 United N. J. RR. &
Canal C os,. . . . . . . . .
243
20 A tlanta & Charlotte Air
Line Co. ......................... 98
39 Continental N&t’l B ank.135%
5 Guaranty Trust Co . ___ 410%
10 Manhattan Life Ins C o..390
8 Rank o f the R e p u b lic.. . . 154
O lt i K iiU r o a d
Shares.
40 Ninth Nat’i B au k ..l02% -10 5
Bowls,
$13,730 96 Spanish Indem
nity Certs, 5 s . ... . . . ___. . . 17%
$9,000 Camden & At!an. ER.
6s, 1899 A & O .. . . . . . .........106%
$28,009 Internat. D e v e lo p s
Co,, N. J „ 1st 5s, 1904,
M&N. May, 1895, coupons
o n . . . . . ............................... .S I ,000
1 Membership N. Y. Prod.
Ex, (all dues p a id )..... .2 0 7
$5,000 M adison Sq. Garden
Co. 2d *% 1 9 1 9 . . . . . . . . . . . . . . 70%
S e c e r n l i e s — B r o k e r s ’ Q u o t a t io n s .
Bid.
Ask.
Bid. Ask
The following table shows the exports and imports o f specie Atlan. Ave., B 'klyn—
Con. 5s, g „ 1931.. A<&0 $103
at the port of New York for the week ending Mar. 29 and
Xmpt. 5s, g., 1934,. J&J
77
since January 1, 1897, and for the corresponding periods in Bleek, St.<fcFul.F.—Stk. 30%
1
st
mort.,
7s.
1900.
J&J
$107
1896 and 1895:
Brooklyn Rapid Transit. 2 0 %
EXPORTS AND IMPORTS OF SPECIE AT NEW YO RK ,
Exports.
a old.
W est I n d i e s .... ___
Week.
$521,995
45,700
425,740
$1 3.450
150.000
789.422
Great B r ita in ........
W est In d ies.............
$977,700
13,568
South A m erica. .. .
A ll other countries.
T otal 1897........
Total 18 96........
Total 1 8 9 5 ... .,
8 -.486
10
802,863
22,473
109,822
42,92 i
$1,035,221
12,590,985
29,573,271
$129,353
149,663
2,207,130
*988,269
17,300,269
1 s.652,602
l inports.
since Jan. 1.
$9,310,239
431.000
5,750
41,004
Week.
$9,829,468
11.644,294
6,746,30 s
Since Jan. 1.
$545
$5,360
33,0V7
11.475
$991,268
1,209.424
609.984
Since J a n .l.
$107,259
632
21,462
Exports
Week.
Week.
$10,177
$87,750
South A m erica.......
AU other countries.
Total 1 8 9 7 ......
T otal 1896........
Total 1 8 9 5 .....
Iinpoiir.
Since Jan.
$39,017
72.303
3 291
i,o o o
53,975
261,902
150,760
•1,225
$472,407
573,768
281,253
Of the above imports for the week in 1897 $6,66U were
American gold coin and $10 American silver coin. Of the
exports during the same time $45;700 were American gold
com.
— The Central Truet Co, of New York and Hallgaiten &
Co. invite subscriptions at
and accrued intere-t for SO, 000,000 5 per cent foity-year consolidated mortgage gol i
bonds of the West Chicago St ret t: Railroad Company. Tncompany operates 259 miUa of road, of which it owns 72-7J
miles and leases the remainder. The greater part of the sys
tem is operated by electric power and nearly all the balance
by cable. The various companies comp ising the system own
real estate valued at $4,328,233, upon which improvements
have been made valued at $5,753,463, making a total of $10,081,701. The proceeds of the bonds now offered are to be
used to retire $2,700,000 of debenture bonds and to fund a
floating debt of about $3,000,000. This debt was incurred and
the proceeds of the debentures used in improving the prop-
D. D.E. B. & Bat’’*—Stk. 163 170
1st, gold, 5s,
104
112 115
8or‘'lp . . . . . . . . . . . . . . . ---- $101 103
80
_ thAvenue—Stock.. 340 353
32% Kigh
Scrip, 0a, x914 ..... ... 110 112
108
21 42d «fe Gr. St. Fer.—Stock 840
B’ way &7tli Ave.—Stock. 198 202 42dSt. Man. & S tN .A v . 40
50
1st mort. 0s, 1910.M&S $116 118
1st mort.,5a, 1904.J<fcD 106 109
65
2d mort., 5s, 1914.JAJ 107 109
2d mort. Income Sa.J&J 62
B,waylst,5s,gnar.l924 115 117 Lex.Ave,«fcPav,Ferry 5s. 115% 116
2d 5a, int. as rent’1.1905 104 108 Metropolitan Traction.. 106 il07
Consol. 5s, 1943...J&D 119% 119% Ninth Avenue—Stock... 160 170
Brooklyn City—Stock.... 181 ' 182 Second Avenue—Stock. 128 1142
1st mort.,5a, 1909.M&F 108% 110
Consol. 5s, 194i...J<feJ 113
Debenture5s,1909.J&.) i 102 105
Bklyn.CrossPnSs.igOS 103 105
Bkl’n.Q’ nsCo.&Snb.lst 101 104 Sixth Avenue—Stock__ 198 I........
Third Avenue—S tock ... 161% 162
Bklyn.C.&N’ wt’wn—Stk 160
112
le t mort., 6s, 1937. J & J 121% 122%.
5a, 1 9 3 9 ....................4110
Twenty-Third S t.-S P k . 300 I........
Central Croaatown—Stk. 200
1st M., 0s, 1922...M&N $112 118
Deb. 5a, 1 9 0 3 .......... ........ 1102
.103
Oen.Pk. N.&E.Riv.—-Stk, 164 170 Union Ry—Stock .......
1st 5a, 1942 ................ $104%......
Consol. 7 b, 1902...J<fcD 112 114
Westehest’r,lat,gu.,58. $99% 102
Columbus <fe 9th Ave. 5s. 116 % 116
Cbrist’p’ r&lOth St.—Stk. 152 160
1st mort.,1898 ...A & O _1 01 104
$ And accrued Interest.
Gas Securities—Brokers’ Quotations.
GA-te UOMPa NI Efe.
Gas c o m p a n ie s .
Bid. Aali.
90% 98% P eoples'(jersey C ity)__
110%
WliHamslrai'K le t 8» ....
Falton Municipal 6 « .......
Central— . . . . . .............. . 195
Foul table___. . . . . . . . . . . . . .
Consumers' (Jersey Olty).
Bonds, 0a, 1899 ............
100 >3 103
Jersey Olty <& Hoboken.. 180 ..... at. P aul...........................
105
Mutual (N, Y. . . . . . . . . . . . . 238 243 Standard p r e f...... . . . . . .
—
N. $. & Bast Biv. 1st 5 b.. 106 107% Common,...... .
90
92 ‘Western Gas ,
Preferred, ............ .
Bonds, 5 r....................—.
Comm on...............— .... 53
97% 9 8 *
Consol, 5 * ...............
B’klyn Union Saa—Stock.
H a n k in g
<m d
Bid.
Ask*
170
175
105
207
103
210
79
8!
80
67
93
69
95
102%
105
111 112
J ftm iu c h tl.
Spencer T ra sk & C o .,
BAN KERS
27
dc 2 9 P I N E
STREET,
-
-
NEW
lO H tt
65 Stale Street, Albany.
I N V E S T M E N T
S E C U R I T I E S .
G s o a a a B a r c l a y Mo f f a t .
M
o
f
f
A lexan der
a
t
&
W
h
i
t
e
m.
W h it k , j b
,
bankers ,
30
P I N E
S T R E E T
-
N E W
I N V E S T tv! E N T S E C U R I T I E S .
V O
H K
THE CHROMCLK
March 27, 1897. J
U fe je
597
J ia t r k je r s ' (S a x e t ie .
March 26.
D B M D fc .
Kame o f Company,
Per
Cent.
When
Payable.
Books closed.
(Days inclusive.)
Prime bankers’ sterling bills on London.
Prime oommeroial.............
Docum entary com m ercial......
Paris bankers’ (francs)........
Amsterdam (guilders) bankers.
Frankfort or Bremen (raiohmarka) b’kers
Sixty Days.
Demand.
4 861a
4 88 ® 4 88ki
4 85 © 4 8514
4 841a®4 84%
5 183s® 177la 5 16%® 159le
401lft® 4 0 1e
40%®406, s
95% ® 953,ft
95S,a®95%
R a i l r o a d s (S t e a m ).
Oil arti ur j
5
April 1 -----------t o ----------Chic R. I. & Pacific (quar.) .......
Ik) May * 1 Apr. 1 to May
-- —— —- •*“ ■
“
uumrauc exonange on JNew
Cin. Ham & D., pf. A&B (quar ).
1
April 6 >
York at the order-mentioned cities to-day: Savannah, buying
Dayton & Mich. com., g u a r .......
1% April 1 s Moh.23 to Apr. 6
1
1
6
discount,
selling
par
;
Charleston,
buying par selling (/
2
April
“
“
pf., guar, (quar.)
6 Mch.23 to Apr. 6
Del. Lack. & West, (quar.)___
April 20 Apr. 6 to Apr. 20 premium ; New Orleans, bank, $1 00 premium; oommercini,
Southwest Pennsylvania........
5
April
1
— to -----25c. per $1 000 discount ; Chicago, 25c. per $1,000 discount ;
Sunbury & L ew istow n............
4
April
1
— to -----St. Louis, 25c. per 81,000 discount.
Utica & Black River, guar..........
3% Mar. 30
— t o -----Verm ont & Massachusetts, guar.
April
3
— t o -----United States Bonds.—Sales of Government bonds at the
S tr e e t R a i l w a y s .
M etropolitan T rac., N. Y. (quar.)
April 15 Apr. 1 to Apr. 15 Bpardinchide $155,000 4s, coup., 1925, at 123^ to 123V;
m
National Ry. o f 8t. Louis (quar.)
— to -----lk i April 6
L 43J ™ ° , 4s’ r e g - ’ 1935’ at ]3 3 M l $5>000 4s. reg., 1907, at lllL fB an k s.
^S’
a4
and $2,000 5s, coup., at 114
Chatham National (q ia r .)..........
4
April 1 M ch.27 to Moh.31 to 114i£.
lh e f. flowing are closing quotations:
T r u s t C o m p a n ie s .
Atlantic (quar.)..............................
April
2
1
IS to A p r. 1
Interest Mar. Mar. Mar. Mar
Brooklyn, Brooklyn (quar.).........
4
April
1
51 to Apr. 1
Periods
20.
22.
Continental (quar.)......................
1% April 10
23.
24.
25.
26.
L. I. L. & T., Brooklyn (quar )...
2
April 1
2s, ............... . .reg. Q.-Mcb. * 95ks * 95% * 95ia * 9 5 % * 96 * 96%
iff ifr c e lla n e o u s .
4s, 1 9 6 7 .............rey. Q .-J a n . 111 *111 *111
Calumet & H ecla Mining............
April
$5
t o -------111% *110% *110 %
4s. 1907.......... oonp. Q .-T an. *11314 *113% *113 *113
Cent, a 8. A. Teleg. (quar.)........
Apr. 4 to Apr.
13* April
113 *4 *113%
Is, 1925.............reg. Q .-Feb. *123^ 123^ 123% *123 *123% *123%
Dan Talmage’s Sons pref. (quar.)
Mch. 2 6 to Apr.
2
IA pril
4s, 1925..........coup. Q - Feb. *123% 123% *123
Edison Elec. 111., N.Y. (q u a r.)...
A pr. 15 to May
12338 123% 123*%
1% May
Equitable Gas L., N. Y. vquar. ..
Apr. 2 to A pr. 15 5s, 1904............. reg. Q .-Feb. *U 37S *113% *113% *113% *113% *114
3
April
Mch 25 to Apr. 1 5s, 1904.......... coup. Q .- Feb. *113^ *11378 114 *113% *113% 114%
2
April
Jouineay & Burnham pf. (quar.)
M exican Teleg. (q u a r .).............
Apr. 11 to Apr. 10 6s, otu*’oj*,*98...**ey. • *.\ J. *1033* *103% *103% *103% *103% *103%
2% April
New Eng. Telp. & Teleg. (quar.).
1*4 May 15 Apr. 2 to May 3 6s, ODi*’py.’9P ...rek. J A ». *106% *106% *106% *106% *106% *106%
4s, (Cher.)1897.reg. March. *100 *100 *100 *100 *1C0 *100
*Penn. Heat Light & Pow er com.
Pref. (on par v a'u e)...................
April 5 Mch.27 to Apr. 5 4s, (Cher.) 1898.reg. M arch. *100 *100 *100 *100 *100 *100 a
4s, (Cher.)1899.res*. M arch. *100 *U 0 *10O *100 *100 * 1 0 0 1
Pref. (on *35 per share paid in.)
Rhode L Perk.Horeeshoe pf.(qr.)
April 15
r This is the price uid
cue morning ooard, no sate w *- owt~
Stand. Gas L , N Y., com (quar.)
April 10 Apr.
i
1to Apr. 11
Texas & Pacific Coal. ..............
April 20 Apr.
1
2 to Apr. 20
United States Snb-Treasnry.—The following table shot* a
April 15
United Gas Inapt, (quar.).............
2
the daily rpeeipts and payments at the Sub-Treasury :
Westinghouse A ir Brake (quar.)
5
1 to Apr. 10
2H l5 April 10 Apr.
“ _________ “ _____ (extra).
Hatunres.
Date.
Receipts.
Payments.
* Correction.
Coin.
Coin OerVs. Currency.
W A L I. S T R E E T , F R ID A Y , M A R . 2 6 , 1 8 9 7 -5 P. M.
$
$
1
$
$
$
The Money Market and Financial Situation.—By far the Mar. 20
2,769,640 131,087.335
3,457,157
2,311,531 67,518,355
m' st potent influence in Wall Street this week was the
“ 22
3.119,054
3,009,699 131,089,502
2,429,321 67,507.761
“ 23
United States Supreme Court decision against the Trans1,982,777
2,225,432 131,086,887
2,407,108 67,289,934
“ 24
2,548,095 131,005,107
3,05 «,r 83
2,756,584 67,532,226
Missouri Traffic Association, which was handed down on
“ 25
130,913.005
2,118.853
1,936,677
2,613,695
67,585,042
Monday. Its immediate effect upon the market for railway
“ 26
2,190,512
2,039,593 130,944,737
2,486,170 67,831,754
n
securities was a heavy decline in prices, and it created a
feeling of general uncertainty as to how far-reaching its
effect may be in the future. The opinion seems to be gaining
ground, however, in Stock Exchange circles, that it will not
be likely to prove as disastrous to railroad interests as was at
firsi feared.
The loreign shuation has not materially changed during
the week and is largely losr sight of in view o f the more ab
sorbing domestic affairs. Of these the proposed new tariff
bill is the m st important, while National and State politics
and legislation are prominent themes of discussion. In-asmuch as there is a considerable degree of unceit .inty in re
gard to the outcome of these matters, Wall Street, in com
mon with the country at large, is disposed to wait for dev. 1
opments.
The foreign exchange market has displayed some strength
since our last report, although on account of the limited de
mand lor bills rat-8 for actual business have only fractiot ally
advanced. Ttois movement suggests that an increased de
mand might a Ivance rates to a point whioh would admit of
gold exports, but it is thought that only a heavy incre ise of
merchandise imports or return of our securities from abroad
can. in the near future, create such a demand.
There is no new feature in the money market.
The open market rates forcall loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1^ to 2 per oent. To-day’s rates on call were 1% to 1%
per cent. Prime oommeroialpaper isquoted at 3% to4per oent.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £365.190 and the percent
age of reserve to liabilities was 55*32, against 55*03 last
week; the discount rate remairs unchanged m 3 per cent
The Bank of France shows an ii crease of 2,826,000 francs
in gold and a decrease of 52,000 francs in silver.
The New York City Clearing-House banks In their statement
of Mar. 20 showed a decrease in the reserve held of 85,785,900
and a surplus over the required reserve of $18,168,975, against
$52,863,550 the previous week,
1897.
Mar. 20.
D ije r e n ’srrorn
Prev. week.
1896
Mar. 21.
i
1895.
I Mar. 23.
C apital................. 59,772,7
61.122, 700 62, ,622,700
B orp lu s................I 74,080,700!
.........
*’ 2,833,,30' | 71, ,0)6,800
Loans & disc’nts. 506,370,000 1 iic. 457. 500 467,526 ,300 4 8 1,,652,400
C ircu lation ........ | 15,952,900 D ec
2f8, 40< 14,198, OOO 12 366,3(0
Net deposits....... 574,328,500 Dec 4,365, 3 (0 4 8 8 ,0 5 8 ,10(.1509,.017,200
Specie...................I 85,534,200 I n c . 2 6 0 , 10o; 58,515 ,300 65,,120,400
Legal tenders___1 0 6 ,2 it ,900 Dec.6,04 6, OoO, 82,541 9001 76,,287,900
1
Reserve held.......191,**51,100 Dec 5,785, ,900,141,057, 200 141,,408,300
Legal r e se r v e ...., 143,582,125 Dc o 1,091,,325jl22,014, 525 127,,261,800
8n rplnsreserve
48,168,975 Dec 4,694.575
19,047.675
14,146,500
Foreign Exchange.—The mark* t for foreign exchange has
been firm on a more limited supply of bids aod although the
volume of business is small rates have advanced.
To-day’s actual rates of exchange were as follows: Bankers,
sixty days’ sterling, 4&5%@4 86; demand, 4 871^(34 87>£,
Total
15,744,260
14.711,312
State and Railroad Bonds.—Sales of State bonds at the
B oard are lim ited t o $16,000 V irg in ia fu nd, deb t 2-3s o f 1991
at 63J^ and $4,000 T enn. settlem en t 3s at 79%.
T he m a rk et fo r ra ilw a y bonds has been w eak in sym path y
w ith stocks. Business in th is depa rtm en t has been less e x
ten sive, an d a larger prop ortion o f it centered in the specu
la tive issues th a n o f late. B onds o f th is class have generally
declin ed an average o f about 1 per cen t, w h ile h igh -gra de
issues have been steady w ith fe w offerin g. More than the
average d eclin e is n oted in bonds o f som e o f the coa l roads,
in clu d in g C en tral o f N ew Jersey and H ookin g V a lley. The
a ctiv e list in clu d es A tch is on , C h icago & Erie, C h icago &
Eastern Illin ois, C h ica g o & N orthern P a cific, Chesapeake &
O hio. C entral o f New Jersey, B u rlin gton & Q uincy, R ook
Island, N orth W e s t . F ort W o rth & D enver C ity, M issouri
K ansas & T exas, Texas & P a cific. U n ion P a cific, Northern
P a cific. O regon S h ort L in e, O r.g o n Sh ort L in e & U tah
N orth ern , S . L ou is & San F ran cisco, St. L ou is & Iron
M oun tain, St. Jos. & G rand Island, San A n to n io & Aransas
Pass, M ilw au kee & St. P au l, St. Paul M inn. & M anitoba,
W abash, L ake Shore, L ou isville & Nashville, O hio & Missis
sippi, H o c k in g V a lley , Erie, R eading. Southern R a ilw ay,
N ew Y o rk C entral, U n ion E leva ied an d Standard R ope &
T w in e bonds.
Railroad and Miscellaneous Stocks.— The m arket fo r
railroad stock s has been a ctive again this w eek, bu t for quite
a d ifferen t reason fro m th a t n oted last w eek. The desire to
dispose o f stocks seem ed gen erally to prevail and salts were
freely m ade fo r b oth lon g an d short a ccou n t. This m ov e
m en t w as stim u la ted b y the U n ited States Suprem e Court
decision referred to ab ove and exten ded to th e entire a ctiv e
list
N a tu ra lly th e gra n ger stock s w ere largely affected and
d eclin ed fro m a b o u t 3 per cei.t, as in the case o f St. P au l
and N orth W est , to 5% per ce n t in B u rlin gton & Q uinoy and
4% in St. P a u l & O m aha. C entral o f New Jersey has been
con sp icu ou sly w eak and rum ors o f a red u ction o f the d iv
iden d rate a ccom p a n ied a declin e o f 6 poin ts t o 84% , th e
low est q u ota tion it has m ade sin ce M arch, 1895. 1 his w as
ev id en tly du e in pa rt to a bear raid, h ow ev tr, as th e s tock
S' Id •t 87% on W ed n esd a y an d closes to-d a y at 86%
The V a n d erb ilt stock s suffered less th an m an y oth er stocks
o f the a ctiv e list, alth ou gh L ake Shore and Cleveland Cin
cin n a ti C h icago & St. L ou is lost 2 % points. N e » Y o rk Cen
tral w as u o to 102 on M onday, sold at 9 8 ^ to-d a y and recov
ered to 99% , closin g w ith a net gain o f % . L ou isv ille & Nash
ville w as d ow n 3% p oin ts o n W i dnesday, w hen M anhattan
E leva ted, R ea d in g an d South* rn R a ilw a y preferred had each
lost 2 poin ts. The rea ction w h ich began b- fore the close on
W edn esda y ca rried prices up an average o f ab ou t 1 poin t
from the low . st o f the d a y, sin ce w h ich the m arket has been
unsettled b u t gen erally w eak.
The m iscellaneou s list has be*n less conspicuous than
usual. Changes are gen erally to a low er level, b u t m m ost
cases are u n im p ortan t.
598
THE CHRONICLE,
NEW YORK STOCK EXCHANGE—A C T I V E
8 T 0 3 K S f o r week s o l i n g
[V O L .
If l R JH 2 0 ,
H IGH EST A S H LOWEST PRICES.
Monday,
Mar. 22.
Saturday,
Mar. 20
n%
11%
32%
22 V
*V
V
*15
16
21% •2 0 %
50
•48V
49 ?e 49 V
83
91V
9
8%
18
17V
172 *164
77% 76%
•45
50
*95
P-!
‘ 7 7g 7 7 %
138 *137
io a % 108%
>155
68%
68% 68%
G1
61%
62 V
*140 144 *140
30%
30% 31%
h n
2 2%
*V
*10
*20%
•48
49
90
8V,
17%
•160
77 H
*45
*95
77*8
$137%
108%
3%
4
3%
11%
22%
V
16
21%
49 V
49 V
91%
9
17%
170
77V
50
98
78%
138%
109%
156V
08%
62%
144
31V
4
108 108% 108% 108%
*154% 155 81 •154% 155%
*97a 10 v
39% 39%
13V 13*V
1378 14
33 V 33V
Tuesday,
Mar. 23.
11%
21%
•v
*15
*20V
*48
47V
84%
•8%
17%
•165
74 V
*45
*95
76%
6137
107V
11%
22 V
V
16
21%
50
48V
88%
9%
17%
170
76%
50
98
77%
138
108V
W ednesday,
Mar. 24
10
u
2 0 % 21V
*v
v
15% 15%
21
21
•48
49 V
47 V 46
84% 87%
9%
*8%
16% 17V
*163 170
72V 73%
•......... 50
*95
98
74 V 76%
137 137V
105% 107%
107% 108
151V 154V
*
*
99%
*13
*70
31%
*171
14%
•8%
*25
*13
*27%
12V
36%
*11
42
23
*13
*46
*117%
*56
5
39%
$14%
8%
*10
•19
*
*117
14*4
8%
28%
•9
*6%
*1%
§5%
13%
1%
4
i%
•12
*56V
12%
33%
113%
4103%
75%
$106%
*9%
79%
•157
34
23V
91%
*4%
26\
*01 V
$162
•62%
7%
27%
7%
58
14%
62
82%
*18
478
*47
13
31
18
‘ 19
37 *
100% 100V
13
14%
*70
75
31V •31V
173 *171
14V
14V
*8%
9
25%
24 V
14% •13
29
}28%
12%
12%
36%
36%
*11
20
*41
42
•23% 23%
14
13
50
•46
39
413%
'3 2 V
39%
13%
33V
31
123
95
6%
25
17V
67
168%
49
48%
83% 85
83% 84%
107 107
105 105
99
>97
20
*18
19% *18
19%
79
78
*77
*77
78%
49
‘ 47
48
*47
48
1 2 % 12%
13
12% 12 V
30
31
3 i%
28% 29%
18%
17% 18%
17V 18
22
*20
22
*19
21
37 •
37 *
37
102
99% 101% 9 9 % 100%
13
12
12 V 12V
12V
75
*70
74
*G9
73
33 V 31% 31V
30% 30V
173 4172% 172% *169 173
14%
14V 14%
13% 14V
9
8%
8%
8%
8%
25
23% 24
24 V 24%
14V *12 V 14
‘ 1 i v 14
28V 4 2 7 % 27V •27% 28
13V
12 V 1 2 % 12V 12%
3 5 % 36
36% 3 5 % 36V
20
-11
*11
20
20
44
*41
44
*40
43%
22V
23%
23V
2
1
%
22 V
13
13
13
*12V 11
50
50
*45
*46
50
• 1 1 7 V H 9 *117%
*56
60
•56
4 7e
4%
5
4%
3 9 % 39V 3 9 % 3 9 %
14% 14%
14V
14V
4
•3%
43%
3%
10
10
•10
10V
22
*19
22
419
90 *_____ 90 *
119 •117 119 •117
14%
14% 14V
14%
9
9
8%
8%
28% 29
28%
27 V
9%
9%
9
9%
7%
6%
6V
6V
2
2
•1%
*1 %
♦5 %
5%
5%
5%
14%
13% M V
13 V
1%
1%
41%
1%
4
•3%
5V
>5
2%
1%
*i%
*1%
119
60
13
57%
12%
33%
114%
103%
76%
108%
10%
80%
159
34%
23%
91%
4%
27%
162
63
7%
27%
7%
58%
15
62%
83%
•V
*15
•20V
*47
*47V
85%
•8%
16%
•163
71%
*....... .
*95
74%
137
105%
106% 107% 107%
154% 154% *154
*9V
37V 3 3 % *3 7 %
13%
1 2 % 13%
31
*17V
*25
31
*25
*120 123 *120
94
94
93 V
6%
6%
*6 V
*22
‘ 23
25
16
16% 16%
65%
566% 66%
166 168
167
*43
48
>43
46
4 5 % 47%
85% 85%
84V 86
*105 107 *10GV 108
19V
79 1
43%
13
31%
13V
22
1 0 % 10%
2 0 % 21V
V
16
21V
49
87%
9%
17
170
72%
50
98
75%
137
106%
64% 66%
66% 68%
64V 65%
59% 61%
57% 59%
58% 59%
*140 144 *140 143 5140 140
29% 31
28% 30
29 V 30
77
77
44%
4%
4
*4
4
4%
*25
31
•25
*25
31
•120 123 *120 123 *120
96
96
95
95 V 95V
46%
6%
6%
6%
6%
*24
*24
26
26
*22
*16 V 18
•16%
*10V 17
•65
*65% 68
67
68
*168% 16938 168 168% *
*43
*44
-44
48
48
48% 49 V 48
48% 49
*18%
*77
*47%
*12i*
30%
18
Thursday,
Mar. 25.
Frld
Mar. Yd.
STOCKS.
a n d sin ce J A N .
A c t i v e H i t . .S to c k s .
A tchison Topeka A Santa Fe. 11,025 10
. . Do
pref. 26,075 20
..............
Atlantlo A Paolllo
Baltimore 4 Ohio.
400 14 V
B rooklyn Rapid T ransit.........
217 18%
Canadian Paolllo.....................
54 V
Canada Southern. .
6,7 7i
Central o f New J e r s e y ..... ... 78,446 84%
800
Central Paolllo..........................
8V
9,770 16
Chesapeake A O hio.................
Chicago A A lto n ......................
40 5162
Chicago Burlington AOulnoy 133,311 69 V
Chicago & Eastern Illin o is...
45
Do
pref.
>95
Ohloago M ilwaukee A St. Paul 141,216 72%
615 131
Do
pref.
Chicago & Northw estern....... 29,044 102%
90
63% 64% Chicago Rook Island A Pacific 30,190 63%
57% 59 Chicago St. Paul Minn. A O m . 55,034 47
*140 144
1 133%
pref.
28% 29% Oleve. Clnoln. Ohio. A St. L ... 11,518 26%
105 73
4
4 Columbus H ocking VaL A T oi
1 ,2 0 2
3%
107% Delaware A H u d s o n ..............
157 Uela ware LaekawannaA West
Denver A Rio Grande
33%
Do
p ref.
13 V E r ie ..............
31
*25
*120
94
*6%
7
24 V *22
14
16
60
65%
167 4165
*44
44
45%
46%
31
123
93
31
123
94
7
25
14
60
165%
48
46%
E vansville A Terre H a u te ...!
Illinois C entral...........
Iowa C entral.........
. . IJo
pref.
Lake Erie A W estern___
, . 1)0
pref.
Lake Shore & M ioh.Southern.
Long Islan d..............
Louisville A N a sh v ille....
Louisv. New A lbany A f ’ hin
I, 1897.
Sales of
Range fo r year 1897.
the
[On basis o f ioo-$harc lota.
Week.
Shares.
Lowest.
Highest.
1 0 % 10%
20
20%
•v
V
14 V 15
2 0 % 20%
*44
40
47V 48
86
87%
$9
9
16
16%
4164 163%
71
72
*......... 50
•95
98
74% 75V
136 136
10 5V 1 0 6 V
107% 107
155% *154%
10 v
38
38%
13%
13V
32
30 V
LXIV
Mur. 24
Mar. 26
12% Mar. 3
25V Jan. 30
Jan. 22
Jan. 7
Mar 4
18 Jan. 8
21% Fob. 11
5 1 7a Mar 17
103% Jan.' 19
Mar.
Mar.
Mar.
Feb.
Jan.
Mar.
Jan.
Jan.
Jan.
Jan.
23
19
26
15
5
13
8
5
6
2
Mar.
Jail.
Jan.
Feb.
.Tun
Feb.
26 70 Jam 16
2 6 t% Mar. 17
18 140% Mur. 9
16 33% Mar. 17
4
25 18 Jan. 8
5,685 106 V Jam
1,300 151 Jan.
10 V Feb.
920 37% Mar.
1,540 12% Mar.
810 30 V Mar.
193h Feb.
>24V Feb.
120 Jan.
1,234 92 V Feb.
530
6 V Jan.
24% Mar.
300 14 Mar.
536 60 Mar.
940 152 Jan.
85 42 V Jan.
31,780 45 V Mar.
V *Tan.
19,097 3 3 ~ Mar.
84
84% 84%
84% Manhattan E levated,oonsol
M etropolitan T raotion...........
455 105 Mar.
•105 108 *1057a 108
Michigan Central___
$99
99
75
2 0 0 17 Mar.
17
Minneapolis
A
St.
L
ou
is.........
*18
18
19 V
79
*77
50 77V Mar.
78% *76
5°
1st p ref.
*45
49 . .
•47
46 Feb.
48
Do
2d pref.
12
12%
12
12 M lssourlKansas & T exas___
960 12 Mar.
20,540
26% Mar.
28% 29%
26 V 28V
D°
pref.
17,640 15 Mar.
17% 18
17V 18% Missouri Paolllo.................
20
100 20 M it.
20 M obile A Ohio...........
*19
22
*
37 *
S44 Mar.
37 New E n g l a n d ..." .........
98% 9 9 % New York Central A H udson. 45,062 92% Feb.
99V 100V
510 11 Feb.
4 1 1 % 1 1 % 411% 11V New YorkChioago A St. Louis
1 70 Jan.
*68
570
70
71
Do
1st p ref.
900 24 Feb.
*29
32
Do
2d p ref.
29V 30
36 160 Feb.
*169 173 5171% 172% N ew York New H aven A Hart. .
13% 14
3 ,7 4 7 13 V Mar.
13 V 13% New \ ork Ontario A Western.
598
8 Jan.
$8%
8%
8% New York Susq. A West., new.
8%
1,360 2 2 V Jan.
*24
Do
pref.
24V *23 V 24V
11V Mar.
* 1 2 % 13V *1 2 % 13 V Norfolk & W e ste rn ..........
L>o
pref
385 26 Mar.
26
26
26V 20V
5,331 12 V Mar.
12 V 12% Nor. Paoitlc R y.votin g tr.otfs.
12 V 12V
Lo
pref. 27,571 32 V Jan.
34V 3 5 % 34 V 35
>15 Jan.
*11
*11
20 Or. RK. A N av.C o.vot.tr.ctf8.
20
i o o 37% Jan.
*39
43
D o pref., vot. trust.otfs.
*40
43
4
7
,5
7
3
Phila.
A
Heading
all
Inst.
pd.
21% Mar.
21V 22 V 21V 22 V
376 12 V Mar.
512 % 1 2 %
12 V 12 V PittsburgOinn. Ohio. A St. L.
128
D
o
pref.
49%
Mar.
5 4 5 % 4 5 78 4 9 % 4 9 %
27
29
26
24
24
26
18
13
16
26
27
18
20
26
2
22
24
11
18%
>170
76%
45
$98%
78%
138%
110%
Mur.
Mar.
Mar.
Mar.
Feb.
Mar.
Mur.
Mur.
15
1
18
13
3
15
18
17
121% Jam
157% Jam
12 V-Tan
43% Feb.
15% Jan.
3 5 V-Tan
21 .Tan
$24% Feb.
122 Feb.
96V Mar.
8 Jam
27% Jam
18% Jam
70% Jam
170% Mar.
55 Jan.
52% Jam
V Jan.
6
18
19
1
18
18
15
13
5
16
16
20
18
20
11
8
19
11
9 93 Mar.
24 U O V J a n .
100 Mar.
26 19% Jan.
18 79% Jam
26 48% Mar.
25 14% Jam
26 32% Mar.
16 24 V Jan.
26 22 V Jan.
2
5
15
29
18
18
18
18
18
12
18 &44
18 102
11 14%
22 75
10 31%
2 5178
26 15%
9%
22
25 26%
11 14 V
26 28%
26 16%
5 38%
15 >17V
S 45 V
21 28%
26 11
26 50
18
22
15
17
17
4
18
18
18
11
4
1
24
18
3
18
21
1
Mar.
Mar.
Mur.
Mar.
Mar.
Jan.
Jam
Jan.
Jan.
Mar.
Mur.
Fob.
Feb.
Jan.
Feb.
Jam
Jan.
F et.
100 5116 Mar. 8 $119 Jan. 18
*117% 118% *117% 118% Rome W atertown A Ogdensb.
.......
.....................
65
60
•56
*56
5 78 Feb
4
4 V Mar. 20
4 % St. L. & Sau Fr., vot. tr. ctfs.
1,455
4%
4%
4%
4V
4V
612 37 Jan. 29 40% Mar. 4
39%
38
Do
1st pref.
39V 538% 38% ' 38
16
Feb.
3
14%
909 12% Jan. 27
Do
2d pref.
14
13% 13%
13% 13%
4 V J a n , 13
3%
4
224
3 V Feb. 6
*3V
4
3% St. Louis Southwestern...........
3%
11%
Jam
18
200
10
9 V Mar. 25
9
Do
p ret
9V
9%
10V
10V
19
39: 20 Jan. 4 22% Jam 13
23 St. Paul A D uluth............
21
23
*18
*18
>85 Mar. 12 S87 Feb. 3
Do
pref.
90
90
90 *
90
20 114 Jan. 28 118 Mar. 3
119 *110 119 5118 118 * i i e
119 St. Paul Minu. A M a n itoba ...
14%
2,365 13 V Jan. 13 15V Jan. 18
14% 14 V
14% 14V
14% 14% Southern Paolllo Oo......... .
3,616
8% Southern,voting trust, oertlf.
8 V Mar. 2*4 10 Jan. 16
8%
H%
8%
8%
8%
8V
28%
26% 20% Do pref., voting trust, cert. 21,229 26 Jan. 4 29% J am 19
26% 27% 26 V 27V
8 V T exas A P acific.........................
1.415
SV .Ian- 2 10% Jam 18
•9
9
8%
9%
9
9%
6,446
0 Mar. 25 10 J an. 6
6
6 Union Pacific trust receip ts..
6
6%
6%
6V
6V
2% Jan. 6
00
1% Mar. 11
2
2
2 Union Paoltto D enver A G u lf.
51%
*1%
IV
*1 %
7% Jam 16
5% Mar. 26
1 ,3 3 7
5% Wabasli............ ......................
5V
5%
5%
5V
5V
45%
10,495
1
IV
Mar.
26
17%
Jam 18
14
Do
pref.
13% 13%
13% 13%
13 V 13 V
6V Jan. 2
820
1 Feb. 19
1 % W heeling A Lake Erie............
1
•1
1
m
1%
1%
29
Jan. 5
310
4
Mar.
17
Do
pref.
5
4%
*
3
%
5
4%
*3%
5
2% Jam 6
1% Mar. 20
200
2% Wise. Oen.Oo., votin g tr. otls.
2%
2%
2%
*1%
*1V
*1%
1
iV IlN C cllan cou * S t o c k s .
200 11V Feb. 13| 14V Jan. 16
13 American Cotton Oil C o.........
*u
13
*11
•11
13
*11V 13
57%
346 52 V Feb. 16 58 Mar. 9
50
56
•56% 5 7 % 5 7 % 57 %i
Do
pref.
•56
9
8,014 11% Jan. 5 14% Jan
12% 12%
12
12%
12% 12V
12V 12V Am erican Spirits Mfg. C o ....
20 Jan. 5 3 4 7e Mar. 15
5.587
D
o
pref.
33
31%
32
31%
31%
30% 31V
31%
112% 113 V 110% 111% 'Am erican Sugar Refining Co. 193,085 110 Jan. 5 118% Mar. 3
112V 114V 111% 113
1,390 100V Jan. 7 105 V Mar. 15
104 104
102% 102%,
Do
pref.
102 V 103 V 102V 103
7 5 % 76%
7 5 % 76%
73% 76% American T obacco C o............ 28,089 67% Feb. 15 79% Jan. 14
75 V 76
35 4 100 Feb. 1 1 1 0 8 Mar. 12
Do
pref.
105% 105% ■105 107 *105 107 5106% 106%
0
2,396
9 V Mar. 26 13V .Hill
10
10
10
9% Bay State G a s ..........................
9%
10V 10%
10V
79,0
72 73% Jan. 5 81V Mar. 23
80
81%
78% 80%
78% 7 9 % 78% 79% Chicago Gas Co., cert s, o f dep.
1,5 >00 130V Jan. 2 159 V Mar. 19
156% 157% 156% 157% 157% 157% 157 157 Consolidated Gas C om pan y..
34
33
General E lectric C o ................. 14,160, 31V Mar. 26 36V Feb. 2
83
34
3 3 % 31% 33
31V
1,920 21V Feb. 16 26% Jan. 19
23% 23 V 22 V 23%
22% 22%
22% 2 2 % National Lead C o.....................
483 88% Feb. 13 92 Feb. 23
Do
pref
491
92
90% 90V *90% 91V
*90V 91V
5 Jan. 18
4 Mar. 25
815
4 V North Amerloan Oo.................
•4%
4
4
4
4%
4%
44%
26% 27%
25% 26 V
20
26%
25 V 20V Pacific M ail............................... 10,361 24 J an. 9 27% Mar 18
*11
13
57
57
12% 13V
33
33
114 114V
4104% 104%!
76
76V
4106% 106%
10V 10V
79% 81%
158 158
34% 3 4 %
•23% 25
*90 V 91V
4%
*4 V
27
27%
*01 la
160V 160V SI 60 V
•62% 63%
62%
7
6%
7%
27% 27V
26%
•7%
7%
7%
57%
57% 58%
14% 14%
15%
61% 62%
61%
83% 84%
83
119
60
118
*56
4V
39%
13%
*3%
■9%
$18%
118
60
162 $158% 161 *157
62% *62% 63 V 62%
7
7
7
6V
27 V 25% 27
26 V
7%
7
•7%
7%
57 V
57% 57%
57%
15% •14% 15
14%
61% 61%
02%
61%
84
82%
82V 83%
* These are bid and a sk ed ; no sale made.
i(io
158 158' Pullman Palace Oar Company
62% *62 V 63 V Silver Bullion Certificates___
6% Standard Rope A T w in e........
7
6%
20%
25 V 26 Tennessee Coal Iron A R K ...
7 United States Leather Co.......
7%
7
Do
pref.
53%
56% 5 7 %
14% 414% 14% United States Rubber Co.......
Do
pref.
62% 02%
63%
82% 83% Western Union T elegraph----83%
$ Less than 100 aha *ea.
696 152
40,000 02 V
3,815
6V
13,635 25
2,950
7
14,835, 54
814 13 V
2,410 1 61%
11,525 81
Jan.
Mar.
Mar.
Feb.
Mar.
Feb.
Mar.
Mar.
Feb.
2 163 Mar.
17 65% Jan.
17 11V Jan.
15 31 Jail.
9% Jan.
25
13 64 J an.
15 25V Jan.
22 7 6 70 Jan.
16 8(3V Mar.
3
27
19
18
19
19
19
5
16
THE CHRONICLE.
NEW
P R I C E S ( C o n t i n u e d ) — IN A C T I V E ST O C K S.
YORK STOCK E XC H A N G E
Mar. 26.
I nactive Sto c k s .
« Indicates unlisted.
Bid.
Range (sales) in 1897.
Ask.
Lowest.
TURK
3EOU RITIE8.
Alabam a—Glass A , 4 to 5 .....1 9 0 6
Glass B, 5 b ..............................1906
Glass C, 4 s ..................
1906
Currency funding 4 s .............1920
A rkansas—6s, fu nd.H ol. 1899-1900
d o . N on-H olford
Tb, Arkansas C entral R B . .
Louisiana—1
7 s, c o n s ....... ........ .x91 4
Stamped 4 s ............ . .....................
If-iW oonole. 4 b....................... 1914
Bid.
STOCK
Ask.
EXCHANGE
B anks
(00a omitted.)
Lowest.
tl4 9
147% Feb.
43% 441*
. 2b 110 120 125 Jan.
t i l l ' s . . . . . 109% Jan.
.100 i87
100 197^
85 Jan.
100
38
°8 Jan.
*4
.100 . . . . .
103 Feb.
.100
1
's
% Jan.
.100
20 Mar.
10's 20
90
75 Feb.
3 Si
.100
4%
4 Jan.
156 175
.100
35
40
35 Feb.
100 . . . . . . . . . . . 20 Jan.
100 106 103 101% Jan.
100 102
97 Feb.
100
Erie Telegraph <
100 J33
Illinois S te e l....
31% Jan.
100
100 35
*2278 23
22t* Jan.
;73
70% Mar.
.100 45
55
Michigan-Peninsular Car C o. .100
100
.100 ;41
43
38i* Mar.
.100
12
13
12 Mar.
.100
31,
6
4 Mar.
.100
O'.
5 Jan.
518
9 M ar8is 11
340 Mar.
50 320
.100
3
1% Jan.
1
10
.100
.100 111 113 102 Jan.
100
100
37 Feb.
100 38
40
IOC 100 1021* 97 Jan.
American Bank Note Co 1
SECURITIES.
f o r t h e w e e k e n d in g
IT'e o m it tw o ciph ers ( 0 0 ) in all cases.
Specie.
Range (sales) in 1897.
Ask.
Highest.
M i s c e ll a n e o u s S t o c k s .
Bid.
Missouri—Fund......... . 1894-1895
106%
105%
North Carolina—6s, o ld .......... J&J
100 101%
Funding a c t ............................1900
ICO
New bonds, J & J .........1892-1898
Chatham R R ..................................
Special ta x , Class I ......................
Consolidated 4 s..................... 1910
6 s ...............................................1919
South Carolina—4%e, 20 -40.. 1933
96'4
6s, non-fund............................1888
Capital Surpl’s Loans.
Mar. 26.
Bid.
155
Jan.
125
113
Mar.
9958 Mar.
Jan.
104 M ar.
1 Jan.
27 Jan.
75 Fell.
4% Mar.
37%
25
107
100
67
42
Jan.
Tan,
Mar.
Mar.
25
78
Jan.
Mar.
12
52
51
15
5
5
10%
340
1%
11 a,
108
70
Inn
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
.Tan.
Feb.
40
102
Jan.
Mar.
Bid.
A sk.
P R I C E S .— S T A T E B O N D S M A R C H 2 6 .
New York City Bank Statement
M a r c h 2 0 , 1897.
(% In d ica tes a ctu a l sales.)
I nactive Stocks .
ff Indicates unlisted.
Highest.
R a ilr o a d S to ck s.
170 Feb. 170 Feb.
A lbany & Susquehanna------ . —100 174
10i*
1 0 1* Jan.
9
9 Jan.
A nn A r b o r ........................
100
23 Jan.
27 Jan.
Preferred...................
100 J24
Boston & U. Y . A ir L ine p r e f ..l0 0 102 105 102 Mar. 105 Jan.
221* Jan.
16% 2 0
Buffalo R o c h e ste r* P ittsbu rg. 100
20 ^ Jan.
58 Jan.
57i* 55 Feb.
P referred.................................. 100
72 Feb.
70 Feb.
Burl Cedar R apids & Nor......... 100
5 Jan.
4 Mar.
3
“ 5"
Uttlcago Great W estern...................
40% Mar.
40 Feb.
40
50
Olev. Lorain & Wheel, p re f.-----100
Cleve and & P ittsbu rg........... . 50 164 170 166 Feb. I 6 8 I4 Jan.
8 Mar.
9
8 % Feb.
7%
Des dom es <fe F oi D od g e------- 100
80
P r e fe r r e d ............. ...................100 50
3 Feb.
4
3 4 Jan.
Duluth 3o. Shore & A tla n tic H. 100
8 Jan.
8 Jan.
6%
9
Preferred fl......................
100
40i* Jan.
39i* Jan.
45
37
E 'ansviilo & Terre H. p r e f....... 50
10 Mar. H i* Mar.
Flint * Pere M arquette..........—100
30 Jan.
30 Jan.
P referred..................
100
40
25
Green Bay & W estern.............. 100
50
Deb. certfs. A ..........................1000
43* Jan.
4
5 Jan.
5
Deb. oertfs. B .........................1000
6 Feb.
6 Feb.
4
7
Kanawha * M ichigan......... ....1 0 0
4
3 Jan.
2 Feb.
2*8
Keokuk * Des M oines............ ..1 00
12 Mar. 28i* Jan.
Preferred................
. . . . . . . . 1 0 0 112
32 Ftb.
32 Feb.
40
Keokuk & W estern............100
8 Jan.
8*18 Jan.
100
M exloan Central..................
li*
1% Mar.
1 Ss Jan.
1
M ex oan N ational tr. o t fs .........100
M o r r is * E ssex ....... .
50 1641* 165i* 163% Feb. 167 Jan.
295 Feb. 300 Mar.
N. Y. * H arlem .....................
50 298
119 Jan. 122 Mar.
N. Y . oaoa. & W estern...............100
16 Jan.
14% Jan.
Or. Sh.Line & D.N.tr.reo.,all pd.100
% Mar.
2i* Jan.
Peoria D ecatur & E vansville 100
31* Feb.
3i* Feb.
8
3
P eoria & E astern....... . . - . —....IC O
169i*
Mar.
168
163
Feb.
162
Pitts. Ft. W. * Ohio, guar.........100
Rensselaer & S aratoga............ r.yu 178 186 180 Jan. 185 Jan.
40%
Feb.
38i*|
40
Feb.
R io Grande Western p re f.........100
25
15
Toledo & Ohio Central................ 100
75
50
Preferred....... .............................100
51*
Tol. St. L. * Kan. City fl............100
Preferred TT....... ......................... 100
* No price Friday latest price this week.
J Actual sales.
NEW
599
Legals. Deposits
.......
103
124
105
SECURITIES.
A sk.
........
Tennessee—6s, o ld ........ 1892-1898
6s, new bonds ......1 8 9 2 -8 -1 9 0 0
do
new s e r i e s ..... . . . .1914
Compromise, 3-4-5 6s..........1912
3 s .............................................. 1913
Redem ption 4 s .. . . . . . . . . . . . . 1 9 0 7
do
4% 8._„............. 1913
Penitentiary 4%a..................1913
Virginia funded debt. 2 -3 s...l9 9 X
6s, deferred t’at rec'ts, stam ped.
111i
M arch 27, 18V)7.J
79^8 80
63
5
New York City, Boston and Philadelphia Banks:
Ba n k s .
Capital A
Surplus.
Loans.
Specie.
Legals.
N7~Y.r
Feb. 27..
Mar. 0.
“ 13.
“ 20..
$
134,660,8
134,660,8
134,660,8
133,853,4
$
497,600,7
502,061,8
505,912,5
506,370,0
$
83,940,9
85,001,7
85,274,1
85,534,2
$
117,022,4
114,860,5
112,262,9
106,216,9
Deposits." Oirc’l’n
$
573,769,3
577,461,1
578,693,8
574,328,5
$
16,491,1
16,406.2
16,211,3
15,952,9
446.402.4
577.757.4
Bank of New York. $2,000,0 $1,894,3 $12,310,0 $2,300,0 $1,490,0 $12,410,0
495.464.4
Manhattan Co......... 2.050.0 2.146.2 14.127.0 2.717.0 2,352,0j 16.206,0
556,855,1
Merchants’ .............
2,000,0 1,016,5 12.815.1 3.041.0 1.896.0 15,284,5
B o s.*
1.611.0 8,707,0
Mechanics’ ............
9.309.0 1.161.0
2,000,0 2.059.2
6.. 69,351,8 177,348,0 10,431,0 8,331,0 166,784,0 9,498,0 99,595,8
5,268,9 23,656,1 Mar.
1.500.0 2.508.4 18.708.2 2.395.4
Am erica.................
“
13.. 69,351,8 177,649,0 10,495.0 8,309,0 164,948,0 9,477,0 81.970.0
'692,0 3^534,0
291.0
3.828.0
359,1
1,000,0
Phenix....................
69,351,8 178,455,0 10,672,0 8,229,0 165,094,0 9,475,0 88.436.0
“
20..
1,000,0 3.608.7 23.405.0 6,915,3 9.349.7 34,748,6 P h ila . *
City.........................
402.3 2,430,2 Mar. 0.. 35,263,0 104,485,0
224.0
Tradesmen’s...........
2.581.1
9*,6
750.0
114,753,0 6,860,0 60.300.1
40,026,0
300.0 7.339.0 24.471.3 4.308.0 3.259.4 24,514,1
Chemical.................
115,719,0 0,864,0 51.724.2
39,761,0
“ 13.. 35,263,0 105,472,0
506.2 5,305,9
831.7
Merchants’ Exch’ge
169.8 4.719.5
600.0
6,924,0 57,970,0
39,378,0
J110,921,0
“ 20.., 35,263,0 106,940,0
813.3 1.894.5 "5.671.4J
Gallatin.................... 1 , 000,0 1.689.7 5,919,9
* We omit two cipher8 in all these JlQures.
193.9 1.259.8
149,6
Batchers’ & Drov’ rs’
181,7 1.295.2
300.0
+ Including for Boston and Philadelphia the Item “ due to other banks •
226,0 2 , 010,0
280.0
278,6 1.980.0
Me hanics’ <fc Trad’s
400.0
900,7
186.1
104.9
158.4
Greenwich................
945,8
200.0
Miscellaneous and Unlisted Bonds:
618.9 2.912.0
323.1
Leather Manufac’rs.
3.085.5
472.5
600,0
338.4 2.016.0
252.5
1.619.6
Seventh....................
94.0
300.0
m is c e l l a n e o u s B o n d s .
2.346.2
m
is c e l l a n e o u s B o n d s.
578,8
159.3
3.064.4
State of New York. 1.200.0
500.9
Jeff. & Clear. C. & I. 1st g. 5s 100 b.
22.943.0 2.622.0 5.326.0 20.271.0 Ch. Jun. &S. Yds.—Col.t.g.,5s
American Exchange 5.000. 2.587.8
0
77%b.
2d g. 5s.................
Commerce----24.518.3 2.667.2 3.192.7 19.022.1 Colorado C & 1 .1st cons.0s,g.
5.000. 3.657.5
0
40 a.
Manhat. Beach H. * L. g. 4s.
575.2 4.979.2 Colorado Fuel <fc I.—Gen. 5s.
703.3
5.671.2
Broadway...... .
1.000. 1.577.1
0
Metropol. Tel. «fe Tel. 1st 5s.. 105 %b.
701.8 2,176,9 8.674.2 Col. & Hock. Coal <ft I.—6a, g.
982.0 7.840.2
Mercantile................ 1 ,000 ,0
Mich.-Penin. Car 1st 5 s ......
542.5 2.994.4 Cons.Gas Co., Ohio.—1st gu. 5s
431.2
482.5 2.477.8
422,7
Pacific.....................
Mutual Union Teleg.—6s, g.. i l 6 " b .
848.6 12.529.6 2.272.7 2.277.8 14,586.7 De Barceleben C. & I.—g. 6s.
1.500.0
Republio.................
Nat. Starch Mfg. 1st 6s........ io i% b .
1.371.4 6.538.2 Det. Gas con. 1st 5............... 581.4
975.4 6.191.0
Chatham.................
450.0
N.Y. & N. J. Telep. gen. 5s..
476.2 2.508.3 Edison Eleo. 111. Co.—1st 5s..
237.4
1.792.6
235.7
200.0
Peoples’..................
Northwestern Telegraph—7s
Do.
of Bklyn., 1st 5s..
6.165.6 1.048.7 1.464.0 7.290.6
582.1
North America......
700.0
people’s Gas <fe C.f 1st g, 6s. 110 b.
1,000,0 2.044.8 17.832.3 5.388.5 2.957.2 23,471,9 Equit. G.-L..N. Y.,cons. g.5s.
Hanover.................
Co., Chicago...... ) 2d g. 0s. 108 a.
513.0 2.875.0 Equitable O. & F.—1st os__
260,0
347.6 2.917.0
Irving.....................
500.0
1st cons. g. 6s..................... 106 b.
3.054.0
Erie
Teleg,
*
Telep.
5s,
g
...
439.7
2.548.5
394.1
511.1
600.0
Citizens’ .................
South Yuba Water—Con. 6s.
900.3 3.324.4 Galveston Wharf Co.—1st 5s.
189.2
2.415.5
276.8
Nassau....................
500.0
Standard Rope & T.—Inc. 5s.
1.026.5 5.888.1 Henderson Bridge—1st g. 0s.
653.9
963.0 5.790.3
900.0
Market «fc Fulton...
Sunday Creek Coal 1st g 08590.6 3.719.7 Illinois Steel deb. 5s............
430.9
115.4 3.501.2
1,000,0
Shoe <fc Leather.
Western Union Teleg.—7 s...
Nou-conv. deb. 5s ..............
7.989.3 1.361.2 1.570.0 9.573.9
Corn Exchange.
1,000,0 1.292.6
Wheel.L.E.&Pitts.Coal lat.5H
557.0 1.048.0 6.039.8 Int. Cond. & Ins. deb. 6s......
5.117.7
200.1
1,000,0
Continental......
1,602,0
350.0
134.0
N ote.—**b” Indicates price oid; “ a” price asked. * Latest price this week.
406.8 1.675.8
Oriental........... .
300.0
Im porters'* Trad’rs 1.500.0 5.555.5 23.781.0 3.203.0 3.964.0 25,082,0
2,000,0 3.202.6 25.413.0 7.825.3 4.771.2 33.777.2
Park...............
1.209.2
246.3
155.6
1.207.9
138.8
250.0
East River—
5.941.1 23.881.6
3.200.0 2.040.8 20,236,9 2.734.3
Fourth............
Bid.
BANKS.
Bid. Ask.
BANKS.
BANKS.
Bid. Ask.
1.233.0 8.919.0
7.789.0 2.132.0
500.3
1 , 000,0
Central..........
5.990.0
1.040.0
848.0
670.7 4.937.0
300.0
Second ......... .
N.Y.Nat.Ex
.....
.
.
.
.
.
.
500
Garfield......
948.8 4.312.0 America....... 315
378.1
3.619.2
290.1
750.0
Ninth..............
115
Ninth..........
German Am. 110
Am. E xch... 173 170
First...............
500.0 7.028.7 23.033.7 3.692.3 3.126.9 23.777.3
19th
Ward..
100
365
340
German
Ex.*
10.890.4
Astor
Place*
230
2.125.2
244.8 8.500.3 1.548.3
1 , 000 ,0
Third. ......
145
N.
America.
135
350
Germania—
1.339.0 Bowery*...... 300
253.1
145.5
75.0 1.372.0
300.0
N. Y.Na ’ l Exch’ge.
Oriental...... 160 185
319.0 3.032.0 Broadway.... 230 250 Greenwich... 165
440.0
601.5 2.911.0
250.0
B ow ery....................
170
Pacific......
340
320
Hanover......
3.423.9
Butch.&Dr..
140
125
388.1
776.2
426.3 2.507.4
New York County..
200.0
Park.......... 263 268*"
94
H de & L.*.. 8 8
575.3 2.783.0 Central t...... 160 170
245.1
293.0 2.730.1
German American..
750.0
210 240
Hud. River.. 155
7.104.0 23.216.7 Chase........... 400
500.0 1.481.1 13.855.8 4.260.1
Chase..............
Phenix...... 104 110
550
525
Im.&
Trad’rs
8.306.4
Chatham......
300
290
Fifth Avenue.
100.0 1,087,6 7.456.8 1 171,0 1.025.1
180
Plaza*........
140
606.7 2.955.2 Chemical — 4000 4500 Irving....... 2 1 2 .3
606.6 2.347,3
German Exchange..
200,0
Prod. Ex.*... 120
Leather Mfs’ 185
4.071.2 City.............. 500
668,0
537.4
679.9 2.884.0
Germ ania......
200,0
150 160
Republic—
135
Liberty*......
6.850.2
Citizens’
......
125
887.8
964.0
599.2 6.109.5
United states
600,0
Seaboard— 169 175
Lincoln........ 750
907.8 1.289.3 0.732,4 Columbia— 170
609.5 5.632.2
Lincoln .........
300,0]
Manhattan... 220 230 Second ........ 425
707.5 4.900.3 Commerce... 200 210
858.0
725.3 3.958.3
200,0
G arfield........
Seventh.
.. 100
200
210
Markets
Fnl
Continental.
140
133
1,828,6
395.0
216.8
1.579.5
Fifth .......................
96
200,01 306.5
ShoeA Le’th 88
Mechanic**. 185
846.5 5.972.3 Corn Exch... 285 300
830.6
4.664.4
803,2
Bankof the Metrop.
300.0
125 135 Stateof N.Y. 115 117
M’chs’
ifeTrs’
2.464.0
East
River..
135
467.0
208.0
2.288.0
323.4
West ^ide.___ _____
200.0
95 100
[Third.........
100
Mercantile...
8.488.0
11
th
Ward..
2,759.0
802,0
5.653.0
100
285.1
Seaboard.................
500,0!
Merchant.’ 140 142 Tradesm’n’s. 92
322.0 1.506.0 Fif'h A ve... 3000
181,0
1.649.0
339.1
Sixth------ -----------200,0,
Il2th Ward*. ____ 135
Merch’t. Ex. 110
854.5 3.826.6 14.521.8 Fifth*......... 250
451.0 13.183.5
Western ................. 2.100.0
200
,
U
nion.........
425
Metropol’8...
6
.
212.0
First...........
3000
1,113.8
943,0
192*"
930,31 5,372,0,
300.0
First Nat. B’klyn...
Mt. Morris.. 96 105 iUnion Sq.*.. 170 200
1.793.2 11.672.4 First N.,S. I. 120
674.6 10.653.6 1,643,9
Nat. Union B ank... 1,200,0
Un’d States. 175
Nassau...... 150 170
495.0 2.589.9 14th Street..
245,3'
248,6] 2.496.9
500.0
Liberty Nat. Bank,.
170
Yorkville*...
190
N.
Ams’dam.
Fourth........
3.291.9
185
178"
315,7
556.2
3,772,2
114 120
318.1
N. Y.Prod.Exch'ge 1,000,0
Gallatin___ 310 330 New York... 233 240 Western......
West Side... 275
Total. ............... 59,772,7 74,080,7 506,370,0 85,534,2*106,216.9 574,328 ,_5 Gansevoort.. 95 105 N. Y. Co’ ntv 700
TH E
GUO
C H R O N IC L E
[V ol . LXIV,
UHSCON. PHI LA UHL P ill A AND UALTIWlHtK UTOCK EXCHANGES.
A c tiv e S t o c k * .
t Indicates unlisted
T T X jh .r o P r i c e s — u o t P e r C e n t u m P r i c e - •
Saturday,
Mar. 20.
Mar. 22
11% 11%
11% i i %
At^h. T. & 8. P {B oston). 100
A llantlo A Pao.
**
100
n iii T e "
B a’tuiiore O hio {Balt,). 100
01% 61%
62
62
Bait. City Pass’get ■’
25
Baltimore Traction *•
25 U S
18%
18% 18%
__ „ „ ___
KaStimoroTrao’ nT(/ ’t i l . ) . 25
18
18
Buxton &
(Boston)AQO •215
215 215
Boxton & Lowell
"
100 •213 214 *213 214
‘
160
101
*160 .
Boston & ’Maine.
“
100
U
*10
11
Co itral o f 'la ss .
‘
100 •10
*56
58
58
Pref e m u l.........
**
100 *56
76% 77%
Chio.Bnr.&Qaln.
•
100 77% 77%
Chio.MU.& Bt. P. (P M .). 100 77% 77i% 77% 78
*7%
8
8
*7%
Cboc.O&G.vot,t ,0
“
50
18
18
Clt. 8 t .R y .o fI n d f "
100
*92% 93
93
Fltahburg pref..<'Kor.'imL100 93
23H
23% 23%
Lehigh V alley .. ( Phila.). 50
M e-ropol’ nT rao.y “
100 106 106
8
8
M eet can CentT ( Boston). 100
*8%
8%
New E ngland___
“
100
60
*59
Preferred .........
“
100 * ... 60
71
71%
Northern Central ( But
50 *70 ........
13% 18%
Northern Paoifio rPfti/a. A 0 0
12% 12%
*36% 37
37
Preferred
“
100 *36
Old C olony. ...(B o sto n ) 100 *177%
178 178
53
53%
Pennsylvania ...(P h ila .). 50
52% 53
1L910 11%
Phil. & R eading,!
“
50 11*10
69% 70
69% 70
Philadelph. Trae.
“
50
*6%
7
6%
6%
Union P a c ific ..■(Boston). 100
UnionTrjlotio tl„ ( P h ila .). 50
11% 11%
11% 11%
T U s e e ila iie o a ip S t o c k * .
Am.Sug’ r Retln.li ( Boston) ____ 113% 114% 114 1145«
“
103% 101
103% 104%
P referred ...........
222 222
Bell T eleph one..
”
100 222 222
B olt. & Montana.
••
25 125*3 126*5 127 128%
18% 18%
18% 18%
Bntte & Boston, t
“
25
Calumet & Heela
"
25 k370 380 -370 330
Consolidated Gas
“
100 * 6 i% *60%
23
E eo.8;or. Bat’yV (Phila.) .100 23*6 23*s
24 H 25
Preferred if
“
100
25
E rle T eiepkone. (Boston) .100 . ~mmmm . .mm
65
General Elootrio.
“
100 *34% 34% *34%
*75
77
35
33%
Illinois S t e e l ____
“
100 *34
22
*21
LameonStoreSer.
“
50 *21
39% 39%
39
Lehl’ hCoal&Nav. (Phila. < 50
N. E.Telepkon© (B oston ).100 * .......... 102% 102
15% 15%
15*2
73% 73%
Unit’d Ga«Imp.H
“
50
40%
40%
40%
W e’ shaoh L ig h t!
“
5
Weat End L a n d ../'Boston) . .
2*4
2%
* Bid and asked prices; no sale was m ade.
Inactive Stocks.
Tuesday.
Mar, 23,
Mar. 24
n% n%
10
....... * ......... &.........
•62
62% *61%
18% 19%
18%
13% 18% - ----‘ __ _
215 215
*213 214 *213
160% 161
160
*10
UO
11
*56
*58
58
74% 76%
72%
76% 77%
747s
7%
7%
93
23%
*aijfl
’
...
*71
125g
35%
177%
53
lL h e
70
6*4
n%
11
Mar. 25
P rldat,
Mar. 26.
10%
10%
V s " *14%
62%
62
18%
18%
„„„»
18%
215
214
213
160
160
11
*10
*56
58
71%
7414
70%
75%
8
7^
17
92%
92% 9-3
93
23 *4 23%
23%
24
106 106
8%
*8%
8%
*8%
60 *
6C *
______
.........
*71
12%
12%
12% 12%
35% *35=8 35% *31%
178
177*% *173 179
52?i 53
52%
53%
103j 11% LOU IS
11%
70
70%
70% 70 ^
6%
OH
6%
6%
11
11
U%
1125s 114%,
103% 104
222% 2 2 4 Hi
127H 1^9
18*€ ISH
377^377^
* . .......... 70
61
*60%, 61
23%
23% 23%
25%
65
64% 65
34
34%
31»s
73% 73%
32% 33
33%
21
21%
22
x*9
39
39
102 *
102
1578 155g 15%
73^4 7 3 ^
40%
41
41
2%
2 Hi
2%
111^
102%
224
126is
17%
'370
Bonds.
1123*
103%
224
127%
18
380
*60% 61%
23 4 23%
26
26
64
64**
33% 33 %
76
*73
33
33
22
*20
39
39
102 102
1533 151*8
73% 73^
*2
2%
112%
102%
224
125%
17%
375
10%
........
10SS
3,934
....... .
032
3,375
1,380
51
10
152
110 Jan. 5
100% Jan. 6
205% Jan. 4
94% Jan. 2
6 Jan. 11
326 Jan. 2
60 Jan. 8
235 6 0 ^ Feb. 24
538 22% Mar. 19
635 2 4 si Mar. 20
434 6 3 Mar. 25
2,360 32 Mar. 26
90 73 Feb. 18
445 30 Feb. 13
5<> 20% Jan. 6
165 39 Fen. 24
60 101% Jan, 2
1.770 131a .Tan. 5
'295 71 Jan. 6
213 40 Feb. 15
575
i 7e Jan. 5
t Trust reo.,all instal.
118% Mar.
105 % Mar.
227% Feb.
129 .Mar.
20 Mar.
3 « 0 Mar.
6 7% Feb.
62% Jan.
3 1 Feb.
33 Jan.
67% Feb.
36% Feb.
78 Jan.
41% Jan.
23% Feb.
42 Jau.
103 Jan.
16 Mar.
71% Feb.
47 Jan.
2 7g Feb.
paid.
3
12
20
16
15
1
6
15
1
29
24
2
20
18
1
14
26
18
3
12
9
25,679
235
1,036
13,372
12,364
20
ABk. !
H lg h e.t
24
17
9
13
12
7
4
2
9
2
6
5
28
17
14
18
5
12
19
15
27
20
15
5
2
25
5
25
5
113%
102%
224%
128
18
377%
8%
60
Lowest,
10 Mar.
•15 Feb.
14% Feb.
5 9 ^ Jan,
17 Jan.
17% Jan.
209 Jan.
205 Jan.
159% Feb.
10 Feb.
57 Jan.
6 9 % .Tan.
72% Mur.
7% Jan
16% Mar.
91 Jan,
20 *3 Feb,
106 Mar.
7% Jan.
37% Jan.
57 Feb.
67is Jan,
12% Mtr.
33% Jan.
176 st Jan.
51% Jan.
lOlt.fiMar.
66% Jan.
6% Mar.
8% Jan.
3
13
8
20
26
26
4
18
18
20
3
1R
15
5
20
15
2
6
30
19
7
22
1
1
1
15
18
4
7
3
12%
34'%
178
52%
U*16
70
6%
li
62%
13%
18%
215
213
100
11
53
72
75%
7%
17
92%
24%
Ran*re o f Bales In 18B7.
12 »8 Mar.
*37 H Jan.
1 7 Jan.
65 Mar.
19% Mar.
19% Mar.
217 Mar.
213% Mar.
166 Jan.
11 Jan.
58 Mar.
78% Mar.
78% Mar.
8% Feb.
25% Jan.
94% Mar.
30% Jan.
110% Jan.
9% Jan.
37% Jan.
61% Jan.
71% Mat.
16% i-eb.
39
Feb.
180 Mar.
53% Mar.
14 Jan.
74 Mar.
9 Jan.
13*^ Mar.
*14% 151$
03
05
18% 19%
ISBg 19%
214% 214%
•213 214
160 160
•10
u
*56
58
23,514
71% 72
x 7 2 % 73
11,100
14,5
'7 %
8
18% 18%
251
112
92
92%
2 3 ^ 23%
5,978
*106 107
62
55
8%
8%
*37
40
•57
60
*7L
72
8
12% 12 ki
1,793
34% 3 4 7g
200
*177% 179
52
3,036
52% 52%
101%,-, 11% 21,759
69% 70
3,818
•0
6%
310
8,406
10 7s 10 %
110% 111%
102*11 102 %
225% 227J*
121% 120
17% 17%
*375 380
*65
70
60% 60 %
60^2 60%
23% 23is *23% 23%
25
25
*25
26
63
64
64
64
33
33 % 33 % 32
75
75
*75
77
34
*33
33
33
*21
22
*21
22
‘ 38% 39 % *38
39
102 102
102 103
X 14% 14%
- ..
73 % 7 3 %
41
42
40% 40%
*2
2%
2 % 2%
1 Trust receipts.
Bid
Sales
Of the
Week,
Shares.
2
Bonds,
F r ia s o j March 26.
People’ s Trae. trust oerts. i s . , 19*3
Boston United Gas, 2d m . 58-.1939
Atlanta & Charlotte {B a lt). 100
Perklomen, 1st s e r .,5 a .l9 I 8 . Q—J
Bnrl.& M o. E lver E x e a p t 6s, J&J
Boston & P rovidence (Boston).100
Phlla.& Ertegen. M. 5 1;.,1920, A&O
N on-exem pt 6 s....... ..1 9 1 8 , J&J
Ca laden & A tlantic p i. (Phila.». 50
Gen m ort., 4 g .......... 1920, A&O
Plain 4 s ......................... 1910, .TAJ
"
50
Flilla & Read, new 4 g „ 1958, J&J
Ohio. Burl. & Nor. 1st 5,1926, A&O
Catawisea------------- . . .
let p re fe rre d ..........
1st prel. Incom e, 5 g , 1958, Fab 1
“
50
2d m ort. 8 b . . . . . . . . . . . 1918, J&D
Ceat-ral O hio............... [Ball.) 50
2d pref. Income, S g , 1958, Feb. 1
Debenture 6 s . . . .........1896, J&D
C hicago & West Mich.(Boston). 100
Chic. Burl.& Quincy 4s 1922,F&A
3d pref. inoome, 5 g , 1 9 5 8 ,Feb. 1
C onnecticut & P a ss..
“
100
2d, 5 s ........................1 9 3 3 , A&O
Iow a D ivision 4 s....... 1919, A&O
Connecticut E lv e r —
“
100
52
Ohio,& W.Mloh, gen. 5s, 1921, J&D
Consol, m ort. 7 s ......1 9 1 1 , J&D
Co asol. T ra ct o f N.J.1I (Praia,). 100
Consol, mort. 6 g ------ 1911, J&D
Consol, o f Verm ont, 5a. 1913. J&J
56
B e'aw are& B oim dB r.
“
100
70
Current B iver, 1st, Sb.,1927, A&O
Im provem ent Ml. 6 g . , 1897, A&O
F l i n t * Pere Marq. Boston). 100
60
Det. L ans.& N or’ n M, 7s. 1907. J&J
Con. M ,,o g.,stam ped,1922, M&N
Preferred.....................
" 100
Eastern 1st mort- 6 g.l9 0 8 ,M & S ..
120
Terminal on, g - ....1 9 4 1 , Q.—F.
H estonvllle Passeng. (P h ila .). 50
130
I ree.Elk. &M. V ,,lst, 63.1933, end.
Phil. Wilta, & Balt., 48.1917, A&O
Preferred t .................
“
50
129
Unstamped, 1st, 6s, 19 33---------Pitts. O. & St. L., 7 s . . . . 1900, F&A
Hunt. & Broad T o p ...
«
50
Rochester Railway, oon. 5s - .1930
K.O. C. & S pring.,let,5g.,1925, A&O
60
Preferred.....................
“
50
aolHiyl.R.E.Side,1st,5 g.1.935, J&D
K 0. F .8 .& M A oon.es, 1928. M&N
81
•Kan. C*yFt,B. & Mem. (Boston). 100
70
Union Terminal 1st 5s .....F & A
K.O. Mem. & B lr.,1st, 2s,1927, M&S
Preferred.....................
“
lo o !
K.
C. St. Jo. & C. B ., 7 a ..1907, J&J122 %
B o n d s , - B a lt im o r e
Little Schuylkill.........t Phila.). 50:
Atlanta A Chari,, 1st 7a, 1 9 0 .. j «. 1
90
L . R o o k * Ft S., 1 s t,7 s . .1905, J&J
M aine Central.......i Boston) 100;
103
Baltimore Belt, 1st, 5 s .1990, M&N
Louis.,Ev.& St.L.,1st,6g. 1926, A&O
Mine Hill A 8,Haven rPhUst.) s o
Balt. O. Pass. ! si 5s . 19 U . M&N
2m ,, 5—6 g .................1936, A&O
37
Nexquehoning V a l ...
50
108
53% 54% Mar. H. & O nt., 6 s ___ 1925, A&O
Balt. Traction, let 5s .1929, MAS
North American Co
**
100
Extern & impt. 6 a __1901, MAS
Mexican Central, 4 g. ..1 911, .1&J
67
:::r
North Pennsylvania.
**
50
No. Balt. D iv., 5s. ...1 9 1 2 , f&D
17%
lstoon sol.in oom es.S g,non-onm
( Boston).100 16
2d aonsol. Incom es, 3 b. n on-cun.
16%
8 i Baltimore & Ohio 1 g., 1935, A&sO.
( Phila. i. 50
25
Pitts. & Conn., 5 g. ..1 925, F&A
N. V .& N .E h
g „„ 1st,
ug
i a v , 78,1905,
‘ a , „ w , J&J
■>
y iv v
121
Phllanel- & Erie..
Ataten Island, 2d. 5 g .1 9 ‘26, I A. I
’•
50
1st mort. 6 s .......... ...1 9 0 5 , J&J §113% 114%
20*4
(Boston) 100
E at and
.. .
Reoelvera’ eertitionea, 6s..J& D
Ogden. &L.O.. C on.es. .1920.A&O } 82 i 84
%
Pre:erred. . . . . .
"
100 25
50
Do. Maryland Construe,, 5s .
tn o .6 s ....... . .............. ..1 9 2 0 } -------------- 15
f Bali., .100
S o r th e r n ..........
9
Bn t.land. 1st-,08........... 1902,M&N H 05
107
D o. Plttsb. & Councils., 5s..J& J
8%
“
100
Preferred.........
26% 27
2d, 5 s .............. ......... 1 8 9 8 ,F&A ’ 97% “ 99
Bttl.&Outo e.\V.,lHC,4‘i g . 4990, J A.'
(B oston). 50
'1apeF.&Vad.,6er. A.,6g. 1916, J & l
72
73
Preferred .......
“
50
92
92%
M&N 108%' . . . .
•lent. Ohm. 4% g ...........1930, MAS
t BhUa.). 100 244 244*11
United Cos, oi r
Cant. Pass., l«r "<s ....1 9 3 2 , M&N
W eft Jersey
.....
•*
50
City & Sub., 1st 5s .....1 9 2 2 , J&D
...... >Latawiesa, M .,7 b _____ 1900, F&A 108%!
Wextern N.Y. & Penn
“
1001
Chart. Coi.&A ug.ext.5 ,.u ui> , J vJ
2% Choo. Okla. & Gulf, prior lien 6 s.. 109 % n o
2%
W isconsin C entral...L B ottonj. 100;
Urtl. & G reen .., 1st 5-6s. 1917, J A.I
2% Citizens’ 8t,R y.of lud.,oon.5a.1933 ....... | 73
Si
p refe rre d ....................
“
100
G eorgia & Ala., 1st p i. 5s. 1945, A&O
10
Colamb. St. R y „ 1st, oon. 5 s..1932
3
Wo - ’«ti.Naah,&Koi!C.
*'
LuO, 112
Ga.Car. & Nor. 1st 5 g .,1 9 2 9 , J&J
118
Columh. O. Crosstown, lst,5».1933
SUSCEhl.*!- sOUa.
Georgia Pan., 1st f»-Sk. . . 193'2, J&J
Consol. Tract, o f N. J,, lB t,5s.l933
A doner M1n’ g. HBorodrOox/on* 25 ■50
Oeor. 8o. & Fla., I s t S s .. 1945, J&J
Del. & B*d B r’k, 1st, 7s. 1905, F&A
•90
Amor. Ry. E l.L ig h t.. (P h ila .j
North. Oant. 6 s ...............1900, J&J
Easton
&
Ara.
lstM
.,58.1920,
M&N
7%
6
A tlantic Mining....... (B o s to n ). 25
6s....... ............................1 904, J i J
2 0 % 21 % E le o .& People’s Trae. stock, tr. otfa
Bay State Gan fl....... .
so
Series A , r,s.......... ....1 9 2 6 , J& l
4% Elmir. & W flm ., 1 s t , 6S .1 910 , J& J.
4%
B reton Land. ..............
•*
10
4 % s ............................... 1925, A&O
4% Hestouvillo M. & F „ oon. 5s..1924
4
Centennial M ining...
*•
10
Pitts. & Connells. 1st 7s. 1898, J * J
g (iHnnt. & Br’ d T o p ,C on ,5 s.’95,A&O
7%
F ort Wayne Elect, t . .
"
25
l
Lehigh Nay. 4 % s . ....... 1914, Q - J
111 % Southern. 1st 5 s____ .. . 1994, J&J
%
Franklin M ining.......
"
2>
Virginia Mid,, 1st 6 s ... 1906, MAS
2d 6 s, gold ............................. 1897,J&D
10% 1 1 %
Frenohm’n'sRay L’d.
<•
5
2d Series, 6 s.................19 n M&8
General m ort. 4% s, g . 1 9 2 4 ,0 —F
%
%
Ke.rsarg© M iulug,...
**
25
3d Series, 6 s ....... ....1 9 1 , MAS
17
Lehigh Val-Coal 1st 5s,g. 1933,J&J
95
16
Osoeola Mining. _____
••
25 31
4th aeries, 3-4-5«. ...1 9 2 1 , MAS
Lehigh Valley, 1st 6 s ...1898, J&D
32
P allm ao Palace Car.
“
100 158 159
5th Sedas, 5s..............1926, M&8
3d 7n........................................1910,M&8
Pennsylvania Steel
(PH.Ua.). 100
West Va C .& ” . 1st. 6 g . l 9 U , J&J
30
Consol. 8 ................ ...1 9 2 3 , J&D
Preferred U
.
•'
100
Wilrn. Col. & Aug., 6 s ..19 10, J&D
Newark Passenger, oon. 5s... 1930
65
Q iln oy lim in g ___ ...1 B a u m ). 25 105 106
WISaBM-lSKOOS.
Worth Penn. 1st, 4 s . . . . 1936, MAN
Tam arack Mining___
Baltimore Water 5 s ...1 9 1 6 , M&N
Gen. M, 7 h ................... 1903, J&J
25 120 121
Water Pow er........ ..
Funding
5s . . . . . . ___ 1916, M&N
100
Paterson
Railway,
consol,
6
s
___
_
l
%
W-wnugu. Eieo. A M.
Exohange 3 % h......... ..1 9 3 0 , J&J
50
24 1 25
Pennsylvania gen .6 s , r.,1910, Var 131
•r«i„ enoialatlve
Virginia (State) 3s, uev . 1932, J&J
SO 80% 51
Consol. 6s, o
............1905, Var 119%
Funded debt, 2-3»........1991, J&J
C o n s o l.5 s ,r .,........... ...1 9 1 9 , Var 119
B o tto m
At. 1op. & B. F. general g. 4e, 1995 580 | 80%
ChesapeakeGas 8 s ____1900, J&D
Ooliat. T r. 4% g............1913. J&D
A.flnstment g, 4 s , 1995................
Oonsnf. Gas, 6 s. . . . . . . . . . 1 9 1 0 , J&D
Pa & N F. C a n a l.’ - . . .
6 ,J&D 122
4458 45
Bos
nited G »» 1 »t 5 s ,.
{81 i 83 • Con. 5a.. .....................l ' ,nP A&O
■” n ■
!it id e s . , v '- r d l M CO 1
A n d a o o r m -d , , , t .e r e s ’
*i tlnli.Tftd
R)o.
96% 97
99 |.........
____ 118
101% 105%
80% 80%
40
27
27%
121
130%
221 ^
104% 104%
101
114
- -*
109
rr
84%
104
........
121
122
li”
105% 106
113
....
103
io T - 104%
06
98
101
97
99
-w -
« S_
111^“ 112*4
101 108 Rj
m
103 *4 104
8 »
81
1J3
94% 95%
108
112
115
1«8
103%
89% 90
114
117% 118
114*4 114%
98
103
107% 108
115
........
124
.........
106%
73% 73%
03
63%
106%
117%
1 0 9 ^ 110
THE CHR0N1 LE.
March 27. lsi)7.]
NEW
YORK STOCK
ft/AiLiiOJLD A tfD
Mi s c e l l a n e o u s B o n d s .
601
E X C H A N G E P R I C E S ( C o n t i n u e d A C T I V E BO N O S M A R C H * 6 A N D F O R Y E A R
QLosvng
I n f st P rice Range (sales) in 1897.
Period Mar. 26.
Lowest.
Highest.
R A r r .n o a d
1897.
Closing Range (sales) in 1897*
Price
Mar. k 6 . Lowest.
Highest.
an d
Miscellaneous B onds.
Amer. Cotton Oil, deb., 8 k -1900 Q —F 106 b. 106 Feb. 109 Jan.
81 ^ Feb.
74 Jan.
Amer. Spirit Mfg., 1st, 6g .l91 5 M dc S 77
79*2
Ann Arbor.—1st, 4s, g ....... 199o Q -J
80*2 Feb.
74*2 Jan.
A t.T. dcS.F.—New gen. 4s. 1995 A dc O 82%
83*8 Mar.
79*2 Jan.
4478
495s Feb.
Adjustment 4 s .................. 1995 N ov.
43*8 Jan.
B,w ay& 7tliA v.-lst.oom g.58,43 J <fe D 119*4 116*2 Jan. 119*4 Mar.
A
de
O
77*2
Brooklyn Elev. 1st, 6 g — 1924
70 Feb.
77*2 Mar.
76*2 Mar.
Union Elevated.—6g — 1937 M de N 76*2
68
Feb.
Bklyn Hap. Trans., 5 g — 1945 A <k O 797s
81 Feb.
78 Jan.
B klyn.U n .G as,l8t,eon .5g.l945 J « J 110
105% Jan. 11038 Mar.
93*sb. 91*2 Mar. 101 Jan.
B’ klynWhrLfeW.H—lst,5s,g.’45 F & A
Canada Southern.—1st, 5s,1908 J & J 109*21>. 108 Jan. 111 Feb.
105 b. 104*2 Mar. 108 Feb.
2d, 5s.................................. 1913 Mde
Cent, of Ga.—Cons., 5s, g.1945 M & N 91%
92*8 Mar.
90*2 Jan.
108 b. 106% Jan. 108 *4 Mar.
Central o f N. J.—Cons.,7s, 1899 Q - J
Consol.. 7 s ........................ 1902 Mde N 115*2b. 115 Mar. 115 Mar.
110*4 Mar. 118 Feb.
General m ortgage, 5 g ... 1987 J & J I l l
9 -*2
Leh.de W.B.,oon.,78,as’d .l9 0 0 Q—M
90*2 Mar. 104*2 Feb.
“
m ortgage5s.l912 Mde N 80 a. 78 Mar. 90 Feb.
Am . D ock & Im p., 5 s___ 1921 J & J 114 b. 114*2 Jan. 116*8 Feb.
dc J 102 *8b. 100 Jan. 102*4 Mar.
Central P a o iiio .-G o ld , 6 s. 1898
E xten 5 g .........................1898 J & J 10034b. 9934 Jan. 101*8 Mar.
Ches. de Ohio.—Ser. A, 6 g ..l9 0 8 A & O 1 2 0 %b. 119 Jan. 120% Mar.
Mortgage, 6 g ....................1911 A de O 1 2 0 *2 b, 118*2 Jan. 121 Mar.
107% Jan. 111*4 Mar.
lstoon sol.,5 g....... . ...........1939 Mde N 1 1 1
General 4*28, g ................. 1992 Mde S 73
72% Mar. 7 6 78 Feb.
R .dcA .D iv., lsto o n ., 4 g .l9 8 9 J & J 1 0 1 *ab. 97 *Jan. 104*4 Mar.
M
2d con.. 4 g .. 1989 J & J 91*2b. 8 6 Jan.
92 Mar.
Ohio. Burl. & Q. Con. 7 8 .1 9 0 3 J & J Il7 % b . 115 Jan. 118 Mar.
Debenture, 5s................... 1913 M & N 100 b. 93 Feb. 100 Mar.
Convertible 5s..................1903 Mde > 100 a4
99*4 Mar. 102*2 Mar.
95 b. 93 Feb. 96*2 Jan.
D enver Division 4 s .........1922 F &
Nebraska Extension, 4s. 1927 j]'* & N 9 1*8
91*2 Mar.
87*4 Jan.
Han. de st. Jos.—Cons.6s.1911 M & S 119 b. d i g
Mar. 121 Feb.
............
Chic. <fc E. 111.—1st, s. f. 68.1907 J & D 114*2b.
Consol. 6 g ..........................1934 A & O 12514b.|l24*3 Jan. 1*24*2 Jan.
General consol., 1st 5 s .. 1937 Mde
m, e NTl 101%
9878 Feb. 10134 Mar.
Chicago de Erie.—1st, 5 g ..l9 8 2 1M deN i l l l ^ b . l n o i e Jan. 112 Jan.
95 b. 9 3 Jan.
Chic. Gas I#. deC.— 1st, 5 g .. 1937 JT de J
96% Mar.
134*4*. 128 Jan. 134% Mar.
Ohio.MiL&St. F.—Con.7s. 1905 J dc
116^b. 115*8 Jan. 117 Jan.
1st, SouthwestDiv., 6 s .. 1909 J &
117*2 115*2 Jan. 118 Jan.
1st, So. Minn. Div., 6 s .. 1910 J &
ist.Ch.de Pao. W .D iv.5s.. 1921 J de
115 b. 112 Jan. 115 Mar.
Chic. <fc Mo. Riv.Di v .,5 s .. 1926 J de
109% 106*2 Jan. 110 Jan.
l l 2 *2 b. 110*8 Jan. 113*2 Mar.
W ise.deMinn.,Div ,5 g ...l9 2 1 J de
r1 1 2 *ob. 110*2 Jan. 112 Feb.
Terminal, 5 g .....................1914 J dc
102
Gen. M., 4g., series A . . . . 1989 J &
96 Jan. 1 0 2 34 Mar.
Mil. <fc S ot.— 1st,con., 6 s. 1913 J de Di 119 b. 118 Jan. 1185s Feb.
Chic. & N. P ac., 1st. 5 g .... 1940 A & o n 41^8 140 Jan. 144 Jan.
Uhio.dc N. W.—Consol., 7s. 1915 Q - F ! 142 b. 14b Jan. 141% Mar.
Coupon, gold, 7 s .............. 1902 J de D 119 b . j l l 6 Jan. 119*2 Mar.
Sinking fund, 6 s .............. 1929 A de O 119
114 Jan. 119 Mar.
Sinking fund, 5 s.............. 1929 A de O 112
109 Feb. 112 Mar.
Sinking fu n d ,d eben .,5 s. 1933 M de N 112
1105a Jan. 112% Mar.
25-year debenture, 5s. ..1909 M dc N 108
106 Jan. 10834 Mar.
Extension, 4 s ..................1926 F de A *102
.101 Jan. IO434 Mar.
Mil. L. SlL de W., 1st, 6 g. 1921 M de N 1333s ;131*8 Jan. 1333s Mar.
E xten. de Im p., 5 g ___ 1929 F de A 112 b. 112 Mar. 115 Jan.
Ohio. R.I.de P a c.—6 s,coup. 1917 J de J 129%b. 128*2 Jan. 131 Mar.
Extension and col., 5 s.. .193*4 J de J 104*4 1017e Jan. 10538 Mar.
30-year d eb en tu re,5 s... 1921 M de 8
95 b. 93 Jan.
98% Feb.
Ohio. St. P. M. dc O.—6 s .. . 1930 J de D 130 b. 126 Jan. 131*4 Mar.
Chio.&W. Ind.—Gen.,g.,6 s . 1932 Q -M 116*2b. 116 Mar. 117*4 Jan.
Clev. Lor. de Wheel,—5 s ... 1933 A de O
102 Jan. 102 Jan.
0. C. C.del.—Consol.7g ...1 9 1 4 J de D 132 b 131% Jan. 133*3 Mar.
General, co n so l., 6 g ___1934 J & J *123**b. 123*4 Jan. 124 Jan.
O.C.CdpSt.L.—Peo ds E.,48.1940 A de O 73 b. 70 Mar. 75 Jan.
OoL Midland—Cons., 4 g ..l9 4 0 F & A t 14 ; 114 Mar. 117 Jan.
Col. dc9th Ave. gu. 5s, g ..l9 9 3 M de 8 1155s 115*2 Mar. 118 Feb.
Col. H. Vai.<&Tol.—Con.,5g. 1931 M dc k 70*4b. 63 Feb.
8 8 % Jan.
General, 6 g .......................1904 J de D| 60 a. 49 *2 Feb.
87 Jan.
Denv.de R ioGr.—1st, 7s,g. 1900 M A N 112 b. I l l Jan. 1127a Mar.
1st consol., 4 g.................1936 J ds J
87*2b. 88 Jan.
89 Jan.
Dul. & iron R’ge—1st, 5 s .1937 A & O 100 b. 99*2 Feb. 101% Jan.
DuL So. Sh.dc Atl.—5 g .... 1937 J de J 101
99*2 Jan. 102 Feb.
Edison El. 111.—1st,con.g.5s.’95 J <fe J 104 b. 10478 Jan. 110 Mar.
Erie—4, g, prior bonds___1996 J <fe J
94*2
93*2 Jan.
95*2 Feb.
General, 3-4, g ..... ..........1996 J dc J
64
62% Jan.
66*4 Feb.
Erie Ry.—1st, con., 7 g .. 1920 M de S r140*2a. 139*4 Mar. 143*2 Feb
17g Dock, consol., 6 g.1935 A de O 134*2b. 133*2 Jau. 136 Mar.
Ft. W. dr Den. City.—4-6 g.l921iJ de D 57 7s
53 J an.
5 9 7s Mar.
GaLH.deSau.An-M,deP.D.lst,5g M de N ' 90 b. 89*2 Jan.
91*2 Feb.
Gen. E lectric.deb. 5 s ,g .. .1922 J de D 96 *2a. 90*2 Jan.
96*4 Mar.
Hous. de T. Cent. gen. 4s, g.1921 A de O 69 a. 66 Jan.
70 Mar.
Illinois CentraL—48, g.......1953 M de N 100 b. 99*2 Jan. 101 *2 Mar.
Western Lines, 1st, 4s, g. 1951 F de A 102*2 100% Feb. 103*4 Mar.
lnt.deGreat Sor. — Ist.Ss.g 1919 M de N 119 b. 117*4 Jan. 119*2 Jan.
2d, 4 *2-58...........................1909 M de S 76*2
80 Feb.
73 J an.
Iow a Central.—1st, 5 g ___1938 J de D 92
92 Mar. 97*2 Jan.
Kings Co. E lev.—1st,5g . 1925 J de J 48 b.j 44 Feb. 50*4 Mar.
95 b. 93*2 Jan.
Laclede Gas.—1st, 5 s ,g ... 1919 Q—F
95 Mar.
Lake Erie de West.—5 g ___1937 J de J 115*2b. 113*2 Jan. 115*9 Feb.
L. Shore. -C on ,op., 1st, 7 s .1900 J dc J 112*2 11058 Jan. 1133s Mar.
Consol, coup., 2d, 7s.......1903 J de D 123*2 119 Jan. 124*4 Mar.
Lex. A v. Pav. F. gu. 5s,g 1993 Mde .8 1155s 115*8 Mar. 118 Feb.
117 b. 113 Jan. 117% Jan.
Long Island.—1st con ., og.1931 Q - J
General m o rtg a g e ,4 g ... 1938 J de D 88*2
88*2 Mar.
76*2 Jan.
Louis, de Nash.-—Cons. 7 s .. 1898 A de O 106 b. 105 Jan. 106*8 Mar.
« . 0 de Mobile, 1st, 6 g . . . 1930 J de J 120 b. 116 Jan. 120*4 Mar.
de J 103 b. 98*2 Jan. 10334 Mar.
“
2d. 6 g . 1930
de D 116*2b.|11558 Jan. 117 Feb.
Geueral, 6 g .................... 1930!
Unified, 4 g .......... ............ 1940 J de J 78 b.| 78*4 Jan.
8078 Feb.
Louis, N. A. <feCh.—1st, 6 s . 1910 J ft J 112 *2 b. I l l Jan. 112% Mar.
Consol., 6 g, tr. receipts. 1916 A de O 85 a. t82 Jan. 180 Jau.
93 Jan.
Manhattan oonsoi. 4 s ____1990 A de O 9<34
95*4 Feb.
Metro. E levateu.- 1st, 6 g. 1908 J dc J 119 b. 1163s Jan. 1 1 9 's Mar.
105 J an. 107 Mar.
*d.6 s .............................1 8 9 9 M dc N 107
Mex. Internat’l— 1st, 4, g . 1942 M <fc S 69
69 Mar. 73 Jam
Mien. Cent.—1st,cons., 7 s .1902 M de N 118
116*2 Jam 118 Mar.
Consol., 5 s ............ ..........1902 M de N 106*2b. 107 Feb. 108 Mar.
MinmdeSt.L.—1st oom 5s,g.l934 M A N 103% 100 Jam 103% Feb.
Mo. K. de E. —1st 5s, g., gu..1942 A de O 93 I 92 Mar. 9 5 % Jan.
M. K. «te Texas.—1st, 4s, g. 1990 J de D 84
82 Jan.
85 Mar.
5734
2d,*s, g ...........................1990 F de A
57 *2 Mar. 63 Jam
80 1 83 Mar. 87*2 Jam
Mo. Pac.—1st, con., 6g...... 1920 M & N
99 1 98 Mar. 102% Mar.
3d, 7s....................... ; ........1906 Mde N
Pao. of Mo.—1st, ex., 4 g .1938 F & A 100 1 100*2 Jan. 1 0 1 % Feb.
2d ext. 5s...................... 193« J & J
101% Jan. 103% Jam
St. L .delr.M t.lst ext., 58.1897 F de A 1 0 2 %a 101 Feb. 103% Jan.
2d, 7g ...........................1897 M de N 103*2a. 101% Jan. 103% Mar.
Cairo Ark. <fcTexas, 7g.l897 J de D 102 I 98 Jan. 102*2 Mar.
Gem R ’y de laud gr.,5g. 1931 A d: O 74*2
73*2 Jan.
77*2 Feb.
Mobile & Ohio—New 6g ...1 9 2 7 J & D *U 8 *2 b. 117 Jan. 119 Feb.
General m ortgage, 4s 1938 M de 8 66 34
66*2 Mar. 68 Feb.
Nash. Oh. deSt.L.—1st, 7 s ..1913 J & J 129 b 127*2 Jan. 130 Mar.
Consol., 5g ........................1928 A de O 102 % 100 Jan. 102% Mar.
N. Y. Centred—D ebt ext.4s. 1905 M de N 104% 101 70 Jan. 104% Mar.
1st, coupon, 7s.................1903 J & J 119%b. 117% Jan. 121 Mar.
D eben.,5s, coup., 18 84.. 190*1 M de 8 108% 106 Mar. lO.i Mar.
N. Y. de Harlem, 7s, reg.,1900 M de N 113*2b. 111*2 Feb. 1133s Mar.
R .W .deO gd.,con 80ls, 58.1922 A de O 121 b. 11734 Jan. 121 Feb.
West Shore, guar., 4 8 ....23 61 J & J 107*2 105 Jan. 108 Feb.
N. Y. Chic, de St. L.—4 g . .. 1937 A de O 106 b 103% Jau. 106% Mar.
N. Y. Lack. & W.—1 at, o s . . 192 ■ J & J 136*2a, 136 Mar. 136 Mar.
Construction, 5 s............. 1923 F de A 116*2 116*2 Mar. 118 Jan.
N.Y. N. H. deH.—Con. deb. otfs A de O 139*2b. 132*2 Feb. 140 Mar.
N.Y. Ont, & W.—R ef. 4s, g.1992 M de 8 93%
8 8 34 Jan.
96 Feb.
Consol., 1st, 5s, g ...........1 9 3 9 J de D 109*2 108*4 Feb. 110 Mar.
N.Y.Sus.de W .lstref.,58, g.1937 J & J 101*2b 100 Jan. 103*2 Jan.
71 b, 70*4 Feb. 74*2 Jan.
Gen. 5 g ............................1940 F & A
Midland o f N. J., 6s, g .,.1 9 1 0 A de O 118 b. 19 Feb. 119*2 Jam
Nor. de W. Ry.—1st, cons.,4g.'96 A de O 73*4b. 70 Mar. 74*2 Mar.
No. Pacific—1st, coup. 6g. 1921 J & -I 116
113 Jan. I I 634 Mar.
88
Prior lien, ry. & l.g. 4, g.1997 Q ~ J
885s Mar.
85*2 Jan.
535g
General lien 3 g ..............2017 Q—F
515 g Jan.
56% Feb.
No. Paoiflo Ter. Co—6 g ___1938 J & J 109
104*2 Jan. 110 Mar.
Ohio de Miss.—Con.s.f., 7 s. 189 k J de J 105 a. 104 Mar. 104*4 Mar.
Ohio Southern—1st, 6 g . . . 1921 J & D 89*2b. 83% Feb.
90 Jam
General mortgage, 4 g .. 1921 M de N 10
Jam
9*2 Mar. t l 5
88
Oregonlm pr. Co.—1 s t6 g .. 1910 J & D
85*4 Mar. 90*4 Jam
2 0 a, 15 Feb. 119*2 Mar.
Consol., 5 g ...................... 1939 A dc O
Ore.R.deNav. Co.—1st, 6 g .l9 0 9 J & J 112% 110 Jan. 113*2 Mar.
82*ab. 80 Jan.
RR. & Nav. consol., 4 g.1946
84 Feb.
110 b. 109% Jan. 111 Jam
Penn. Co.- -4 *2 g, cou p ....... 1921 J
Peo. Deo. de E vansv.—6 g .19 20 J & J 102 b. 100 J an. 104 Feb.
Evans. Division, 6 g ....... 1920 M de 8 100 b 100 F^b. 106 Feb.
2d mortage, 5 g ................ 1926 M de N
27*2 Jan
27 Jan.
Phila. de Read.—Gen., 4 g ..l9 5 8 J & J \ 80*2 t80 Jan. t82 Feb
41
1st pf. ino.,5 g, allinst. pd.’ 58
41 Mar. 148 Jan.
ri 30 b. 130 Mar. *3638 Jan
2dpf.ino., 5 g., allinst. pd.’ 58
3 d pf.m o., 5 g., allinst. p d.’ 58
30% Mar. 134*4 Jam
Pitts. Sh. dc L. E., 1st, 5 g.1940 A de O ioi*2t>' 95 Jan. 102*2 Mar.
Pittsburg de W estern—4 g . 1917 J de J 73 ;
70 Mar. 74*2 Jam
R ioG r. Western—1st 4 g .. 1939 J de J 71*2
71*2 Mar. 74% Feb.
St. Jo. & Gr. Island—6 g ..l9 2 5 M de N 53%
47*2 Jan. 153% Mar.
St. L. de San Fr.—6 g, Cl. B . 1906 M de N 114*4b 112 Jan. 115% Feb.
General m ortgage, 6 g .. 1931 J de .1 1 1 0 *2 b. 108*e Jan. 112*2 Feb.
General, 5 g ..................... 1931 J & J 96 b. 94*2 Jan.
98 Jan.
Railroad, 4 g .................... 1996 J de J 6 3 * 2
66 7s Feb.
62*2 Jan.
68
St. L. de So. W.—1st, 4s, g.1989 M de a
67*4 Mar. 70 Jam
2d, 4s, g., incom e............ 1989 J de J 26 i 2 4 Mar. 28 J am
St.P.M.deM.—D a k .E x .,6 g .l9 1 0 M de N 121 b. 116% Jan. 12034 Mar.
1st consol., 6 g ................. 1933 J de J 125*2b. 123 Jan. 124*4 Feb.
“
reduced to 4 *2 g . . J de J 1065s 102*2 Jan. 107 Mar.
92*2 Mar.
Montana extension, 4 g.1937 J de D 92
87% Jan.
8 an.Ant.de A. P.—lst,4 g .,g u .’4r J de J
59*4 Mar.
58*4
5478 Jan.
92*2 Mar.
91*2b. 87*2 Feb.
80 . Car. <& Ga.—1st, 5 g . . . l 9 1 ! M de
92 b. 90 Feb.
94*4 Jan.
80 . Paoitio, Ariz .—6 g .. . 1909-10 J ds J
So. Paoiiio, Oal.—6 g . . . 1905-12 A de <> 107 b. 108 Jan. 108 Jam
87 Feb.
1st oonsoi., gold, 5 g ....... 1937 A de O 86 b. 85 Feb.
So. Paoiiio, N. M.—6 g ____1911 J de J 103*4 102 Jan. 105 Feb.
91 Jam
Southern—1st oons. g. 5s. 1991 J de J 89*4
88*4 Feb.
89% Jam
E. Tenn. reorg. Iieiv£-5s.l938 Mde 8 85
89 Jan.
E.T. V. deG.—1 st,? ? ._..1 9 0 0 J de J 109
107*4 Jan. 1 0 9 34 Mar
Con. 5 g ..........................1956 M de N 109
107 Jan. 1093s Mar.
Georgia Pao. Ist5-6 s, g.,1922 J de .1 115
107*2 Jan. 114*2 Mar.
L12 Jan. 115 Feb.
Knoxv. de Ohio 1st 6 s ,g .. 1925 J de J 114
Rich. &Danv. 0 0 a. 0s,g..l9 1 5 J dc J 1 2 1 *2 b. 11734 Jan. 122% Mar.
de A 114 b. 111*2 Jan. 114*2 Mar.
W est.No.Carlst con. 6 s,g 1914
67*4
Standard RopedcT..l st.6g.1946 F <fe A
65 Mar. 79*8 Jan.
88 *2 Mar.
Tenn. O. I. de R y—Ten. D .lst, 6 g A & U 87 b. 82 Jan.
89 Mar.
Birmingham D iv., 6 g . . . 1917 J de J 83 b. 85 Jan.
90 Feb.
85% Jan.
Texas de Paoiiio—1st, o g ..2 0 0 u J de D 885s
23 Jam
205s
19% Jan.
d, incom e, 5 g .............. 200o March
102 Mar. 108 Feb.
de J 102
To do <&Ohio Cent.—5 g .,1 9 3 5
de D t 68 b. 67*2 Mar. t75 Feb.
Tol. .L. dcKan. C.—6 g .,,1 9 1 6
& J 1 0 1 %b. 101% Mar. 105 Feb.
Union aoiiio—0 g ....... -...1 8 9 8
95 Feb.
Ext. b king fund, 8........1899 M de b t 91341). 85 Jan.
Collateral trust, 4*2........1918 M de N 50 a. t49% Jan. 150 Jam
dc A 10138b. 99 Feb 102*2 Mar
Gold 6 s, col. trust notes. 1894
113*2 Jan. 117 Mar
Kan. P a o .-D en .D iv .,0 g .l8 9 9 Mde N 116
1st consol., 6 g . . . . . . . . . 1919 Mde N t 72 b. t67 Jan. 178 Jan*
Oregon Short Line — 6 g.1922 F de A 1116*4 1111 % Jan. 119 Mar
Or.S.L.&Ut'hN.—Oon.,5gl919 A de O t 75*2b. 163*2 Jan. 17738 Mar*
34 Mar. 37 Feb.
de D 34
U.P.Den.deGulf,con.,5g.l939
U. S. Leather—3 " deb. 6 g. 1913 Mde N 113 b. 111% Jam 114 Feb.
Virginia Mid.—Gen.
*«.1936 M de N 102 b. 100 Jan. 103*2 Mar.
Wabash—1st, 5 g ................ >39 Mde N 10534 105% Mar. 107*4 Jam
2d m ortgage, 5 g .............. 1939 F dc A 66 b. 6 6 Mar. | 73% Jam
19*2b. 22*2 Jan. I 25 Jam
& J
Deben., Series B .......... 1939
104*2 Jan. 107*2 Mar.
de J 107
WestN. Y. ds Pa.—1st, 5 g .l9 3 7
50 Feb.
Gen. 2-3-4s, g o l d . . . . ....1 9 4 3 A de O 4 9 *2 a. 46% Jam
106*2 Jam 107 78 Mar
de J
W est.U n.T el.-C ol.tr. 5 s.. 1938
b.|t36
Mar,
(t40
Mar
Wise. Ceat. Co l* t 5 < ... 19371J de J 1 35
No te .—'“ b” indicates price bid; “ a” p rice asked; the range is made up from actual sales only. * Latest price this week, t Trust receipts.
XZW
Y iB iK S T O C K
E X C H A N G E P R I C E S — (Continued),—I N A C T I V E
SECURITIES
Railroad Bonds.
(Stock Exchange Prices.)
Alabam a Mid.—1st,g .,g u a r.. 1928
Atch. Topeka de San Fran.—
)alcago de St. Lou.—1st. 6 s. 1915
Ool. Mid. 1st, g., 6 s, asstd .1936
60
&Cl. dc Pac.—2d w. D., gu. 6s.?U07
Western Division in com e.. 1910
*8
B *lt A Ohio— 1st. 6 r, Park B.1919 112 %
SECURITIES.
Balt, de Ohio—
W Va. de P i t t s .- '« t ,g ., 5 s..1990
B. de O. 8 . W., 1st, g., 4 *38 .. . 1990
Monom River, 1 s t,g .,g .5 s .. 1919
Cent’lO hio R e o r—1st, 4 *2 *. 1930
Ak.&Ch.Junc.—Ist,g,5s,gu .l930
Brooklyn Elevated—2d, 5 s ... 1915
Seaside de B.B.—1st,g,5s,gu.1942
Bid.
Ask.
BONDS
M ARCH 2 6
SECURITIES.
Brunswick de W’n—1st, g., 4s. 1938
Buff. Rocb. de Pitts.—Gen. 5a..1937
90
93
Roch. de P., 1st, 6 s............... 1921
Rocb. de Pitts.—Cons. 1st,6 s. 1922
......... ....... Buff, de Susqueh.—1st, 5s, g .1913
Burl. Oed.Rap. de No.- 1st, os. 1906
Consol. «te collat. trust, 5s. .1934
’ 9 8 '4
Minn, de St. L.—1st, 7 s ,g u .. 1927
Oed. Rap. I. F. dr N „ 1 st, 68.1920
44*“
I «T .
___. . .
...
..
... 1921
.......
Bid.
96%
Ask
i'oo
122
119*4 120
107*a 107%
105
106
102*2
THE
602
C H R O N IC L E .
NEW YORK STOCK EXCHANGE 1'KICES . - I N A C T I V E
SECURITIES.
Bid.
SECURITIES.
(VOL. LX1V,
B O X D 3 —( C on H n m d J - M A R 7 H 2i5
Bid. j Ask.
SECURITIES.
112%
C O lio —O o!.*C tn.M .lB t,4% s.1939
........
Ora*. RR , * Bank. -C o l. ? .8 b.1937
93 % 96
Bt.Paul A N. P.—Gen., 6 «..1 9 2 3
? ____
N orfolk A South'n—1st, 5s,g.l9 4 1
Cent. Ry. o f t !* .- 1st, g., 5 * .. 1945, 112 118%
......
N o r fo lk * W est—General, 6s.l9 3 1
1st. pref incom e, e., 5b -----1915 ------..........
2d, pref. In com e,g., 5 s ....... 1945 .......
N ewRi% *erlst 6s..................1932
Oent- o f « . J — C om .du b.,ds.liM Js m g
tfdnt A P. M arquetteIm p, A E x t . 6a................. ...1 9 3 4
116
C ol.C onu,A Ter..l9i,gu.g 5s. 1922
Osnt. ParltSe—Gobi bonde.Ss.1898; 102% 1 02 %
*80
E xt. g, 5s» Berios A B C 1 ) ..1 8 9 8 100% 101 %
Ohio A Miss,—Consol. 7 s ........1898
'7 5
2d oonaoi, 7 s .......................... 1911
G old 5 b, eerie? E ................. 1808 *HM %
.............
San Joaquin Br., 6 s.............. lyOO 101
Spring. I>iv— l s i 7 » ................1905
........
General 5 s...............................1932
Alort, gold 5*................ ......1 9 3 9
42
Ohio R iver R B — 1st, 5s.......... 1936
Land grant, 5s, g................ ..1 9 0 0
•
*104
Gen, g., 5 s ....................... .....1 0 3 7
C a t * O. D iv., e x t,, g, 5 a ...1 9 ! 8
102%
103
* _____ 101
West. Pacific—Bond*. 6 s ..* , 1899
Omaha A Bt. Louis— 1st, 4 s ..1937
No. R ailway <CV i - l a t , 08.1007
Oregon & C alifor.—1st, 5s, g.1927
122%
93*
50-rear 5a.
193s
Penn-P,C.C.& 8t.L.Cn.g.4% sAl94'
*107
Do
do
Series B 1942
Cent, Wiishlngton—le t, e., 6 s.l9 ?8 ,
Do
do
Series C 1942
Chee, A O.—Pur. M, fo n d , 6 s .1898 103% 105% Hons. A T exas Central—
•125
V r i. V..
Do
do
Series D, 4s, 1943
109% . . « - 1 P .C .A 8 ,L .-lst,c.,7 e................ 190>
" » , n r 8pr, Y a!., 1st, g. 5 s .. 1941!
iu i
....
Pitts. Ft. W. A O.—1st, 7 s ...1915
E lit. L.& Big S andy—U. fls 19021 99% 100
, .. , ,
2d, 7 s ...................................1912
"J 4
One*. O. A So. v»*eat.— 18! 6s, g.1911
3d, 7 s .................................... 1912
I d , Os........................................ 1011
........ 97
Oh. V.—& en,eon.lst,gtt.g,5s.l93S
Ch.St.L.AP.—1st,cou.S s.g... 1932
Illinois Central
112
Olev. A P — Cons., a. fd., 7s.l9 0 C
is t , g „ 4 s . . . . . . . .
Ohieago & A lton—8. F., 6 b.. ..1 903 115
111
Gen. 4%e, g., “ A .............1942
L o iis . A M o. R iver—1st, 78.1900
103% 10T *
Do
do
Series B 19-12
2d, 7s.................................... 1900 1091b
......
99
Bt. L .V .A T . H .-ls t,6 B .,7 s .X 8 9 .
2-10 g., -Is............
Bt. L. Jacks. & Chic.—2d, 7s. 1898
. —
Cairo Bridge—4s..
2d, guar,, 7s.............
...1 8 9 8
Miss.R. B ridge—1st, a. f., 6S.1912 101%
.........
Bpringf. D iv — C01
Onto Bari. A Nor.—1st. 5 s ....1 9 2 6 *105%
G d.R ,A I.K xt— 1st, 4%s,G.g. 1941
.....
Alleg.YaL—Gen., gu., 4s, g,1942
Ohio. Barling. A Q— 5s, s. I . .1901 104
Middle D iv — Reg.
*104%
N.AC n .B d g .,g eu .g u .4 % 8 .s.l9 i5
Iow a Div.—Sink, fu nd, 5 s ..1919 *107%
*104
Penn.R R — 1st real, est g. 4 s .l»2 3
S inL lig fund, 4s..........
1919 101 101 %
91%
1211* 122 %
F .a tn .4 s...................................1921 *88
Olo.A
u .e.4 % s. ‘193
*’"•'■* Mar’
* ' *ta—lst,g
* ..............
935
Chicago A Iow a D iv.—5S ...1905
36
D .R lv.R R .A B dg—lst.g u .g .4s.’ 3
100
O lio . A Indiana Coal—1st 5 s .1936 *93
le t, 68.1921
2d m ortg., 4 % s....................... 1921
C M . Mil. A St, P.—1st,8s,P.D . 189S 10456
.Itts. Cleve. A T oi.—1st, 6 s ...1922
24, 7 3-108, P. D ................... 1898 *131 133%
Pitts. * L. Er— 2d g. 5 s ,“ A ” . 1928
1st, 7s, $ g . , R . D ....................1902 132
recta., e x b o n d s..........
lo t
Pitts. Mo. K, A Y — 1st 6s____193S
1st, 1. A M „ 7 e ...................... 1897 *131 133% Ind. Deo. A W— 1st, g., os
90
Ind. His. & Iow a.—1st, g, <
1st, L A D ., 7s...................... 1899 130
133%
............
l s t , 0 . A M .,7 s ...................... 1903 *131
1st,.e x t , g. 5s. . . . . . ___
31%
30
1st consol. 5 s . . . .....................1943
1st, 1, A D .E x t e n s io n ,7 s ...x 08 133%
I n t A G. Urn— 3d, 4s, g ..
45 ; Pitts. A W est—M. 5s, g. 1891-1941
■ 41
1st, La C, A D av., 5 b............ 1919 * 110 %
101
102
1st, H .A D ., 7a.....................1910 *127 129%
103% 104
la t .H . A D „ 5e.....................1910 108
106% 107% It. L. A, A T. H.—Term. 5 s ..1914
Obioago A P acific D iv ., 6 s ..1910 118% 120
109
Bellev. A Oar— 1st, (is......... 1923
120
Mineral P oin t D iv, 5 s.......... 1910
Det. M. A T . - l s t . 7 e .
11 L
110
01u.8tL .A Pad— 1st, gd.g.5a 1917
O. A L .S n p . D iv., 5a............ 1921 *ioT
114
St. Louis 80— le t, gd. g. 49.1931
la r g o A South., 6a, A ssn. ..1 9 2 4 ” 108
......
do
2d incom e ,58.1931
117
I c e . con t. sink, fu nd, 5s___ 1916 *100
110 %
Oar. A S haw t.—1st g. 4 s ___ 1932
97
Dakota & Gt. South., 5 s___1916
.............
..........
it. L. A 8. P— 2d 6s, g., ol. A .1906
no
a m A Nor. m ainline— 6 s ...1 9 1 0 119*
Lehigh V.Term,CM s.AN orw— 30-year deb.5e.!021 111
2d, 6s, g,, class C .................. 1906
1st, trust, gold 5s.......... .
1987
92%
JBsoanaba A L. 8 .1 s t, 68___ 1901
Ft. 8. A V .B .B g .- l s t , 6 s . ..1910
112%
D esM . A M inn— 1 s t ,7 s . . . . 1907
St. L. Kan. A S.W— 1st, g.,6s.l91C
Iow a Midland—1st, 8a.........1900
It. Paul City Ry, oon . 5s, g .,.1 9 3 7
Ohio. A M ilwaukee—1st, 7 s .1898 101 %
............. ............
Gold 5s, g u a r ....................... .1937
128%
Win. A B t F.—2d, 7a.............1907
■105
It. Paul A Duluth—1st, oe___1931
Mil. A Mad— 1st. 6s............. 1905
L ong I s l a n d 2d m ortgage 5e.......................1917
O t t.0 . F. A B t. P — le t , 5 s . 1909 107%
106%
le t , 7s ............
It. Paul Minn A M.—2 d M ,6«.1909
84
STorthem 111— 1st, 5 s .......... 1910 107%
Minneat). Union—le t 6s ... 1922
Mil. L. 8.AW— Con.dell.,5s. 1907 104%
128
Mont. Oen— 1st, guar., 6 s ..1937
131
Mloh. D iv., le t, 6s.............. 1924
1st guar, g, 5 s....... .............1937
*42%
Ashland Division—1st, 6s 1925 125
35
East. M inn., 1st div. 1st 5s. 1908
......
Oh.R.1. A P -D .M . AF. D.18**8.1905 *85
62%
W’ >n arA SiouxF— 1st, g,5s.l93H
1st, 2% s................................1905
Extension, 4 s....... .............1905 *83
.
Keokuk A lie s M.—1st,5 s ..1923 102 100%
-1 st, 58.1926
30
Okie. B t P. A Minn— 1st,6 s ...1918 129%
Bt. Paul A S . 0 — 1st, 6 s....... 1919 131% 1*3*2%
*108 110
Ohio. A W. la d — 1st, s. f., 6s. 1919
*113
AtL. A Char— 1st, pref., 7 s ..1897
General m ortgage, 6e.......... 1932 i'16%
100
Incom e, 6 s..................... ...1 9 0 0
Ohio. A West. Mich— 5 s.........1921
Colum. & Green.—1st, 5-6S.1916
Cin Ham, A D .—Con. 8. f., 78.1905
*56”
E. Tenn.V. A G a .-D iv ia .5 s 1930
I d , gold, 4% a.......................... 1937
107
Rich. A Dan.—Fx. s. f. g. 58.1909
ran. D. A Ir 'n —1st,go. 5s,g. 1941 110
......
Deben. 5s, sta m p ed ......... 1927
D ev. AM. A O o L -E q . A 2d 63.1930
*99%
V
ir’a M id— Serial ser.A, 6 s .1906
74
Glev.ACan— X r.otfs.forlstos.1017
96%
Series B , 6 b.......................... 1911
0 . 0 . C. A 8t. L — Gen., g. 4 s .. 1993
97
Collat. trust, 5s, g ................ 1
101
Series C, 6 s . . . ....................1 9 1 6
Cairo division, 4 s.................. 1939
90
*103 104%
L.AN. &A1.AM— lst,g .,4 % sl
Series D, 4-Ss ..................... 1921
8t.L ou.D iv— Istcol.ts’t4s,g.l990
Nash.Pior.A8.—1st, g u „ 5 s .1
94% 95
Series
B, 5 s ..................... 1928
Boring. AOoLDiv.—1st, g. 4 b. 1940
85* I F "
Kentucky Central—4s, g _ ..l
Series F, 5 s .......................... 1931
W idteW .Vai.Div— 1st,*, 4s. 1940
L .& N i—L0U .0.&L.—g,,4%8.1
Gen.,
5s,
guar , stam ped .1936
Cln.W ab.AM .Div— 1st, g.4s. 1991
90
Wash. O. AW.—lstour.ga.4s.1924
Oln. I. S t.L . A 0 — lat,g .,48.1936 101 101 %
45
*43
?er. A s’ii o f Bt. L.—1st, 4%». 1939
C onsol , 6 s . . . . . ........
1920
. . . . . . .............
1st, oon. g. 5 s.............. 1894-1941
Oln.Ban. ACL—C on .l»t.g .5 s, 1928 109
St.L.Sler.JSr.Tertu.,g.58,gu..l930
In d ian aB . A W — 1st pf.7s.1900 107%
.....a
?exas A N ew Orleans—1st,7s.1905
Ohio tnd-AW — ls tp r e f.e s ..1 9 3 8
Saoine D ivision, le t, 6 s....... 1912
P eor. A E a s t —Incom e 4s ..1 9 9 0
‘8
Consol. 5s, g ................
1943
O, Col. Ota. A Ind— 1st, 7 s,s.f.l8 99 *108%
2d, incom e, 6s, ‘
?ex. A P ac., B. D— 1st, g. 68.1905
Consol, sink, fund, 7 s...........1914
.............
Cin.ABpr.—lB tC .C .0.A I.78.1901
117
Cleve. ixirain A Wh.—1st, 5 s .l9 3 3
M ortgage 4 s ...................
104
.......... .
__ rT
Oieve A Mah. V — Gold, 5 s ...1 938
Bat.C.AStrgis.—1st,3s,t
Del. Lack. & W— Mort, 7 s___ 1907 126%
Minn. A St. L.—1st, g. 7s.
140% . . . . . .
8yra, Bing. A N. Y .- l a t , 78.1906 126
•123
le t, 6 a ......................................1897
M orris A E ssex—le t, 7 s___ 1914 143% 145
*123
1st, 6 s.................................... .1899
Bonds, 7 s..............................1900 *110
121%
Collateral Trust, 6 »...............1908
7a of 1871............................ 1901 115%
Collateral
Trust, 5 s......... ...1 9 0 7
1st, oony guar,, 7 s............ 1915 144 145
Mo.K A T.of T ex!lst,gtt.5s,g.l
* ............. 77
Kansas Paoiila—1st 8s, g ...l 8 9 o
*......... 72
Warren—2d. 7 a ..................... 1900 1 1 2 %
Kansas
w» City A P .,ls t ,4 s ,g ..l
1st,
6e,
g
.............................1
806
D. AH* Can.—P a.D iv.,ooup.7s,19l7 *140%
78%
m
O. Br. U r . —F. 0., 7 s...........1895
A lbany A 8usq —le t. gu.,7s. 1906
___
51
128
Atoll.
Col,
A
Pao.—1st,
6
a
...1905
1st, oons,, guar., 6 b.......... 1906 118% 119%
1st ooll., 5s, g ...................... .
51
......
Atob. J. Co. A W.—1st, 6 s... 1905
R evs. A Bar. 1st, coup., 7S.1921 146
8t L. A I.M .-A rk .B r., 1st,78.1895 104 107
IJ. P. Lin. A Col— 1st, g „ 5s, 1918
0 e n v . Tramway—Cons. 6s, g .1910
Utah A Norilx.—1st, 7s‘......... 1908
Metropol. Ky.—lst.g u . g.6s. 1911
*80
Gold, 5 s ................................ 1926
Denv. A R. G— Im p .,g ., 5 s ... 1928
114
82%
Utah Southern—Gen., 7s ..1 909
D e tM . A M— L. g. 3%s,8er.A.1911
20
18
125% . . . . . .
Extern, 1st, 7 s....................1909
Det. A Mack.—1st lien, 4s,g.,199 5
4s, g o ld ...................................1995
Vabash—
...........
Debenture,
Ser. A . . . . . -----1939
Brie—l e t extended, 7 s.......... 1897 109 109% N . Y. Central— Deb. g. 4 s ....1 905 i o i " 104%
Debenture, Series B .............1939
2d, extended, 5 e .. ................ 1919 *117%
N. J. Juno—Guar. 1st, 4«. ..1 986
84, extended, 4% s.................. 1923 112 112 %
Beeoh Oreok—1st, gold, 4 s .. 1936 i' 07 " 1*0*8% Det. A Ohio. E xt. 1st, 5s, g .1940
tth , extended, 5s................... 1920 118% 121
Bt L.K.O.AN.—St,C.Bdge6s.l908
Osw. A R om e—2 d ,5 s ,g .,g u .l9 1 5
Vest N. Y, A Pa.,gen,g. 2-3-4s .1943
5th, extended, 4s................... 1928 101 %
Utica A Bl. R iv.—4s, g., gu,1922 *103%
1
1 st con ., g.iT A , 7« ...............1920
Inoorne 5 s ..................... ..... .1 9 4 3
N. Y, A P ut— 1st, g,, 4s. g o. 1993 *102
B. H. Y. A 8 .—1st, 7 s .......... 1916 i*3*5* 138
Vest. V ». O. A P itts— 1st, 68.1911
......
» . Y. N. H. A H — 1st, reg. la.1 903
BuO. A 8. W .—Mortg, 6 s .__ 1908
N. Y. A Northern—1st, g. 5 s ..1927 1*2*0" 1 2 1 V Vheoi.&L.E.—1st. 5s, g o ld ...1 9 2 6
JeHerson—1st, gn. g 5 e „ ..1 9 0 9 1*07%
___ | W heeling Div., 1st, 5s, g ...l 9 2 8
N. Y, 8ueq. A West— 2d, 4 % s.l9 3 7 *68
Coal A R R .-U s ......................1922
Terminal, 1st, g. 5 s............ ,1943 *106% .........1 Extension & Im p, g., 5s.......1930!
Dock A T m p t.lst 6s. onr’ov 1913
118
Wilk.& East— l»t,gtd.,K.5s. 1042 *89% 90 1
Bid.
125
104
120
112
103%
i*03*
Ask.
107
119%
103%
10*6
*52
55
1*09* 109%
109%
109
*105% 108
108%
136
i 35
’. 33
13*
115
115
102
hi
1 ! :
*,
No prtoe F r i l l y
th e*i v . j h i a l is! qnotstiuug m ade this woak. F o r ' I l k r e i l a d o o u e l d o n ils ■-Boo 8d p a io preoefling
108% 109%
112%
77
7a
131
25
104%
*90
114% 114%
114 114%
109%
103
'103%
102
•121 %
120
108
108%
107 108
45
113
'100
100 %
101% i o i
80
......
no
in
106 107
*93
......
i*2*2%
77 . . . . . .
64
60
97% 98
10l*fl
101% 102
101*8 . . . . . .
99
.........
85
75
108% 109%
112%
25
26
ii*5*’
100
75%
75%
19%
__„
30
’ ' ""**
__
......
20%
96
......
49%
13%
*91
93
9
THE CHRONICLE
Ma HCH 27, 1897.]
lim e s tm e n t
R oads .
% n U lliQ z n tz .
RAILR O AD
E A R N IN G S .
The following table shows the gross earnings of every
s t e a m railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the
gross earnings for the latest week or month, and the last two
columns the earnings for the period from January 1 to and
including such latest week or month.
The retu rn s o f the street railw a ys a re brou gh t togeth er sep
a ra tely o n a subsequent p a g e.
R oads
Latest Gross E arn ings.
Week or Mo
1897.
Latest Gross Earnings.
Week or Mo
AND
R a ilr o a d
603
Jan. 1 to Latest Date.
1896.
17,730
A dirondack....... December.
20,768
27,712
Ala. Gt. South.. 3d wkMar.
28,326
Ala. Midland .. . January...
64,223
71.681
Ala. N. O.Tex. & Pao. June.
N Orl. A N. E. February . 107,141 108,872
49,389
45,969
Ala. A Vioksb. F e b ru a ry .
49,403
44,625
Vicks. Sh. & P F ebruary.
Allegheny V al.. F e b ru a ry . 169.322 171,823
23,789
A nn A rb or......... 3d wkMar.
23,715
Ark. M idland... January...
8,502
7,939
Atoh. T. & S. Fe. January... 2,237,139 2,484,664
A tlanta & Char. December. 150,662 20Z.071
50,913
53,619
A tlanta A W. P. January...
12,273
10,928
Atlan. A D a n v .. 2d wkMar.
Atlantic A Pac.. January... 278,451 303,482
6,693
Augusta sou t’ n. January...
5,402
17,254
Austin A N ’ west January...
20,601
2 0 ,1 0 0
Balc.Ches.AAti F ebru ary .
23,173
Balt. A Ohio — F ebru ary . 1,725,235 1,538,' 05
115,464 125,598
Bal. A O . Sou’ w 3d wkMar.
53,499
B angor A Aroost January...
50,025
2,026
Bath A Haiu’nde January...
2,0-i6
Bir. A A tlantic. F ebruary.
1,733
1,846
Brunsw’ kAWest January...
50,892
52,610
Buff.Roch.APiti 3d wkMar.
5 6,237
52,186
Buffalo A Susq. February *
34.881
32,62.:.
71,592 100,035
Bur.C. Rap. A N. 2d wkMar.
CanadianPacific 3d wkMar. 325,00341,00Car. M idland... February
7,171
5,657
Cent, o f Georgia 1st wkMch 105,069
96,539
Central o f N. J February . 848,939 821,541
Central Pacific January... 858,913 856.490
Chari. Cl. A Sut. November.
3,585
4.045
Chariest’ n&Sav. January...
64,986
53.478
Ohes. A u h io___ 3d wkMar. 235,844 180.878
Chic. Bur. A O.d January... 2,672.628 2.593.604
Chic. A East. 111. 3d wkMar.
87,600
93,300
Chic. Gt. West’ll 2d wkMar.
86,68'./
99,150
Ohio.Mil. A St.P. 3d wkMar. 508,538 625.811
Chic. A N ’ thw’ n. February . 2,206,831 2,384.172
Chic. A No. Pao. January...
84,895
67,/54
Chic.Peo.ASt.L. F eb ru a ry .
82,334
69.300
Ohlo,K’i£ I. A P. F eb ru a ry . 1,070,83- 1,117.551
Chlo.8t.P.M.AO. F e b ru a ry . 523,636 561.812
Chlo. A W. Mich 2d wkMar.
27.670
26,179
Choc. Ok. A Gull January... 112,903 129,481
Cln.Ga. & Ports. February .
3,430
4,258
Cln.Jack.AMac. 3d wkMar.
12,581
14,253
Cln.N.O. A T . P. F eb ru a ry . 261,514 266,655
Oln. Ports. A V . January...
17.652
21,553
Clev.Can. A S o.. 2d wnMar.
12,472
11,011
OLCin.Cli.ASt.L 2d wkMar. 230.689 220.080
Peo. A East’n. February . 137,249 139.490
CL Lor. a Wheel 2d wkMar.
19,950
22,158
Col. M idla n d .... F e b ru a ry . 117,785 140,750
Coi. H. V. A Toi. February
157.744 209,735
Col. A Red Mount F e b ru a ry .
11,552
Col. Sand’y A ol. F e b ru a ry .
58,167
62,681
Colusa A Lake February
1,400
1,100
C rystal........ . January...
463
I , 178
Oum bTd Valley January...
55,184
63.703
Denv. A Rio Gr 3d wkMar. 122,700 129,000
Des M. A Kan.C 1st wkMch
2,826
2,187
Des.M .N. A W .. F e b ru a ry .
28,032
38,952
Det. G. Rap. AW. 2d wkMar.
21,513
18.053
Det.AM acklua« January...
27,464
39,656
DuluthS.S.&Atl. 1st wkMch
22.475
38.681
ElglnJol.AEaet. February .
95,297 101,750
E rie .................... January... 2,222,620 2,344,077
Eureka Springs December.
5,591
4,961
E vans.A lnd’plis 3d wkMar.
4,366
5.441
Evans. A R ich . 4th wk Feb
1,452
2,461
Evansv. A T. H 3d wkMar.
16,068
21,344
Fitchburg........ January... 527.768 598,018
Flint. A P.Marq. 2d wkMar.
55,118
55,547
Fla.Cent. A Pen. zd wkMar.
43,964
41,332
Ft-W’thADen.C. 2d wkMar.
17,070
18,037
Ft. W. A R io Gr February .
20,136
29,031
Gads. A Att. U F ebru ary.
682
799
Georgia R R ___ 3d wkMar.
29.586
25,267
Georgia a A la.. 2d wkMar.
19,756
I I , 122
Ga. Car’la A No. J anuary...
90,922
93,330
Geo. So, A F l a . . January...
______
79.652
86,146
Gr. Rap. A In d .. |3d wkMar.
38,025
41,699
Cln.K. A Ft.W |3d wkMar.
8,358
8,264
Traverse City 3d wkMar.
687
825
Mas. G. R. A I. 3d wkMar.
2,167
2,941
Tot. all linen 3 d wkMar.
49,237
53,729
Grand T ru n k ... 3d whJLr. 3 3 l,03b 323,323
Chlo. A Gr. Tr. 12d wkMar.
6-,652
59.386
DeLGr.H.AM 2d wkMar.
17,645
16,328
Cln.Sag.AMac|2d wkMar.
1,811
2,549
Tol.S, A Musk 2d wkMar.
1,988
1,159
Great North’ n Bt. P. M. a M February . 796,45'
880,309
E a sto f Minn. F eb ru a ry .
77,178 122,570
MontanaCent. February . 148,090 143,939
T ot.system 'F ebru ary. 1,021.727 1,146,818
G’lf B’mntAK.C. F eb ru a ry .
2,375
7,911
G ulf & C hicago. February .
4,270
4,181
Hoos.Tun.cV Wi i February .
3,648
3,922
Hous. A Tex. Con January... 240,526 273,533
Illinois Central * February '♦1803737 t 1755278
1897.
189 6.
196,547
345,144
71,681
201.229
318,043
64,223
224,141
103,389
101.403
346.719
256,913
7,939
2,237,139
1,598,047
3,619
101,748
278,451
6,693
17,254
43,800
3,676,079
1,278.267
53,499
2,026
3,292
50,892
635,54-;
71,944
759,047
3,556,924
12,290
235,872
99,969
92.625
360,539
242,4 0
8.502
2,484,664
1,752,996
50,913
102.204
303,482
5,402
20,601
49,273
3,355,937
1,336,930
50,025
2,046
3,974
52,610
630,732
68,541
941,025
3.82b,054
10,862
1,704,155
858,913
49,780
64,986
2,319.87b
2,672,628
902,734
890,934
5,677.531
4,302,967
84,895
133,i61
2,091,644
1,061,559
267,225
112,903
7,614
141,854
524,796
17.652
112,466
2,493,108
262.6-6
207,u89
245,334
335,841
22,778
119,230
2,650
463
55.184
1,251,705
25,327
56,399
213,019
27,464
215,203
172,268
2,222,620
61,264
50,855
9,681
197,153
527,768
523,416
447,923
190.055
46,577
1,369
390,9 9
226.980
90,922
79.652
379,000
78.947
8,166
22,54b
488,662
3,500.442
58.*,536
181,702
19,236
19,220
1,831,117
856,490
43,896
53,478
2,264,266
2,593,604
925,313
969,976
6,482,222
4,831,541
67,754
157,385
2,300,435
1,174,593
283,590
129,484
8,859
153,163
543,157
21,553
110,568
2,513,167
294,289
232,632
290,217
412,369
122,871
2,000
1,178
63,703
1,441,666
18,594
74,164
192,369
39,656
316,617
209,092
2,344,077
62,889
65,305
12,685
253,579
598,018
559,973
396,732
178,080
66,850
1,762
394,573
124,924
93,330
86.146
424,513
92.601
10,208
27,749
555,071
3,489,912
652,804
164,862
24,753
12,112
1,732,724
228,039
298,536
2,259,299
8,838
7,244
7,432
273,533
240^526
♦3.713.542 ♦3.675.907
1,584,881
172,050
296,211
2,053,142
16,w53
7,653
1897.
1896.
Jan. 1 to Latest Date
1897.
$
83,874
70.532
733,574
462,773
335,881
7,008
54,974
2,313
96,382
868,313
261,181
63,416
4,993
49.448
299,583
73.234
61,243
14.234
697,648
55,617
13,528
383,746
10,366
281,077
83,930
4,308,651
2,209,409
5,667
23.51 8
256,872
2,822,583
260,986
1,226,137
53.408
647.000
123,269
37 4,732
526.235
2,363,333
4,701,000
235.001
4 936,006
64,625
648,399
215,135
834,033
19,129
37,23«
6,441,403
685,316
324,276
2,045,290
66,032
1,074.517
2,620,439
Ind. Dec. A West. 2d wkMar.
5,881
8,620
Ind. 111. A Iowa. January...
70,532
79.015
In. A Gt. North’n 3d wkMar.
60,339
52,593
tlnteroc. (Mex.) Wk. Mcli. 6
64,994
42,151
Iow a C entral... 3d wkMar.
29,655
44,828
Iron Railw ay. . F eb ru a ry .
3.312
3,880
Jack. T. A K. W. February .
27,989
30.668
Jainest’n A L . E. January...
2.313
KanawhaAMicL 3d wkMar.
9,054
8,626
K.C.F. Scott AM. 2d wkMar.
89,741
77,481
K.C.Mem, A Bir. 2d wkMar
21,122
20,455
Kan. C.N. W .. . F ebru ary .
32,159
21,547
Kan.C. A Beat. December.
768
370
Kan.City A Om. 2d wkMar.
4,204
1,573
K.
C.Pitts.
G ..
35,490
3d AwkMar.
11,309
Kan.C. Sub. Belt 3d wkMar.
6.394
5.276
Keokuk A West. 1st wkMch
6.974
8,042
L. Erie A ll A So. F eb ru a ry .
7.065
6,089
L. Erie A West. 3d wkMar.
57,909
62,246
Lehigh A H ud.. F ebru ary .
29,110
30,828
Lex’gtoDAEast. January...
13.5,8
17,487
Long Isla n d ___ F ebru ary. 183,278 191,330
Los Ang. Term. F ebru ary .
5,628
9.639
Louis.Ev.&St.L 3d wkMar.
28,045
27.654
Lou.Hen.ASt.L. 2d wkMar.
8,411
8.082
Loui9v.ANashv. 3d wkMar. 374.870 349,700
Louis.N.A.ACh. 3d wk Sept
58,404
73,785
Macon A Birin.. January...
5,667
7,290
M anistiaue....... F ebru ary.
13,395
10.015
MemphisAChas 2d wkMar.
25 ,013
23,418
tM exican Cent.. 3d wkMar. 245,627 176,071
M exican Inter’l. January... 260.986 234,547
tMex. National. 3d wkMar. 115,04c83,161
Mex. Northern, J anuary...
53,408
75,^48
t Mexican R’ way Wk.Mch. 6
71,000
64,500
M exican S o....... 1st wkMch
14,210
9,716
Minneap.ASt.L. 3d wkMar.
37.264
39,066
M.
St.P.AS.St.M,
75,000
53,038
2d wkMar.
Mo. Kan. A Tex. 3d wkMar. 171,542 187,823
Mo.Pac.AIronM 3d wkMar. 365,001
34 2 ,0 c
Central Br’cli. 3d wkMar.
1 0 ,0 0 (
20,00T otal............ 3d wkMar. 385,00'
352,00(
M obile A Birm.. 2d wkMar.
6,270
4,616
M obile A Ohio. F ebru ary . 325,602 289,510
M ont.A M ex.Gli February . 111,797
86.874
Nash. Ch. A St. L. F ebru ary . 420,982 419,338
Nel. A F t. Sli’p ’ci February .
5,000
9,375
Nevada Central. December.
4,499
2,737
N. Y. C. A H. R .. F eb ru a ry . 3,301,460 3,206.641
N. Y. Ont. A W .. 3d wkMar.
65,290
53,298
N.Y. Susq. A W .. February . 143,801 144,168
Norfolk A West. 2d wkMar. 224,522 248,935
Northes’n (G a .). December.
6,352
6,680
North’n Central February . 548.631 442,778
North’n P acific 2d wkMar. 269,502 284,584
Oconee A West. F eb ru a ry .
6.022
2.936
3.096
Oliio R iver........ 2d wkMar.
159,403
17,184
17,905
Ohio Riv. A Clia.- February .
33,827
: 8,766
18.56b
Ohio Southern. February .
97.052
54,12b
6il,363
Ohio V alley....... November.
309,055
31,584
22,r-83
Oregon Imp. Co. January... 242.687 244,205
242,687
Oreg. KR.ANav. F ebru ary . 257,315 295,294
557,061
Pacihc Mail....... January... 356,707 303.473
356,707
Pennsylvania. s>. January... 4,755,671 4,993,771 4,755,671
Peoria Deo. AEv. 3d wkMar.
194,190
16,45*
14.808
Petersburg........ J anuary...
39,77a
46,857
39,778
Pliila. A Erie___ January... 254,857 289,095
254.857
Phila. A R ead... January... 1,538,42; 1 787,116 1,538,427
Coal A Ir.C o.. J anuary.. 1,694,06 1,853.451 1,694,066
Tot. both Co’ s. J anuary... 3,232.49o 3,640,567 3,232,493
Ph. Read. AN.E. January...
42,428
50,599
42.428
Pitts.C.C.ASt.L, F eb ru a ry . 1,069,272 1,177,000 2,108,423
7,576
Pitts.Lisb.AW ’n F eb ru a ry .
3,483
3.780
68,266
Pitts. Sh. A L .E . F eb ru a ry .
34,652
40,811
Pittsb. A Wes’ n. 3d wkMar.
275.857
29,189
27,189
140,444
Pitts. Cl.ATol. 3d wkMar.
15,193
14.428
37,964
4,564
Pitts. Pa. A F . 3d wkMar.
3.653
461,471
Total system .. 3d wkMar.
48,946
49,270
121,953
Pitt.Young.A A. F eb ru a ry .
68.658
58,638
21,220
23,387
Quincy O. A K.C. January...
21,220
48,564
Rich.Fr’ksb AP. January...
54,848
48,564
23,471
27.980
Rich. A P etersb. January...
23,471
68,673
7,046
6,293
Rio Gr. South’n. 3d wkMar.
438,495
40.700
Rio G FdeW est 3d wkMar.
39,800
20,865
23,653
20,865
St.L. C h.A St.P. January...
10,721
4.087
4,820
St.L.Ken’etASo. F eb ru a ry .
415.640
St.L.ASan Fran. January... 415,640 492,856
996,739
75,100
64,400
St.L. Southwest 3d wkMar.
177,792
91.024
St. Paul A D u l.. F eb ru a ry .
87,157
151,922
San Ant. A A P . January... 151,922 143,7a l
87.895
50,953
San Fran. A N .P. F eb ru a ry .
42.855
307,672
307,672 303,649
Sav. Fla. A West. January...
50.532
6,653
Slier. Shrev.ASo. 4th wk Feb
8,0b9
12,151
15,476
12,151
Sil. Sprs. O. A G. J anuary...
52,260
12.471
3,554
Silverton
December.
2,974
1,114
1,641
So.HavenAEast F eb ru a ry .
So.Pacific Co.—
377,531
Gal.Har.A S.A January... 377,531 474,563
87.437
96,497
87,437
Louis’ a. West. January...
436.563
Morgan’sLAT. January... 436,563 503 569
23,797
15,745
23,797
N.Y. T. A Mex. January.. .
126,095
Tex. A N. O rl.. January .. 126,095 lz8 ,106
Atl. P rop’tes.o January.. /1069758 /’ 1241487 H ,069,758
Pacific system January... 2,314,425 2,383,488 2,314,425
Total of all.e January... 3,384.183 3,624,975 3,384,183
729,536
729,536 799,098
So. Pao. of Cal. J anuary.
212,073
So.Pao.ofAriz. January... 212,073 217,977
103,297
So.Pao.ofN.M. J anuary.. - 103.297 103,044
157,314
Northern R y .. January... 157,314 153,«80
Southern R y .... 3d wkMar. 369,450 351,137 4,275,992
92,804
26,005
46,149
Spok.F’ls A N or. F eb ru a ry .
76,546 1,C78,657
77,017
Staten I.Rap.Tr. November.
776
1,112
776
StonyCl. A O.Mt. January...
139,059
67,709
63,145
Summit Branch. February
144,499
67,897
64,458
Lyk. Val. Coal. February .
283,558
Tot’l both Co’s F eb ru a ry . 127.603 135.606
41,706
4,419
4,488
Texas Central.. 1st wkMch
1.457,932
Texas A Pacific. 3d wkMar. 103,162 109,097
5,462
2.381
2,568
Tex. S .V .A N .W . F eb ru a ry .
343, - 53
33,169
30,377
ToLAOhioCent. 3d wkMar.
182,763
17,703
17,468
Toi. P. A W est.. 2d wkMar.
464,345
36.684
39.080
ToL St.L. A K .C 3d wkMar.
613,215
54,566
60,720
ll.P a c.D . A G ... 2d wkMar.
Onion P a o ifio Un. Pao. RR January... 1,001,744 937,329' 1,001,744
397,909
397,909 3b 6.700
Or. S.L .A U .N .1January,
1898.
97,361
79.015
690,118
385,154
466,885
8,093
59,199
163,027
872,497
250,571
46,399
4.954
18,885
133,472
56,738
76,560
12.420
752,215
61,427
17,487
397,291
17,375
302,220
84,264
4,391,’; 78
2,272,642-
7,290
21,^09
284,376
2,182,548
234,547
1,034,630
75,948
554,500
94,833
407,932
622,970
2,526,813
4,610,000
148,000
4,7 ? 8,000
59,924
589,431
191,t34
882,937
9,247
30,156
6,684,607
655,430
322,163
2,266,328
54,661
953,987
2,873,261
5,892
182 136
37,349
129.881
334,244
24-4,205
668,232
303,4 73
4.993.771
198,039
46,857
289,095
1,787,116
1,853,451
3,640,567
50,599
2.413.771
6.958
94,766
295,926
155,842
34.700
493,226
142,462
23,387
54,848
27.980
93,364
419,060
23,653
8,276
492,856
1,106,524
187.649
143,781
97.254
303 649
50.740
15,476
77,140
2,138
474,563
96,497
503,569
15,745
128,106
t l , 241,487
2,383.488
3,624.975
799,098
212,977
103,044
153.980
4,211,375
51,783
1,106,132
1,112
154,404
150.477
304.881
46,381
1,464,540
5,835
375,305
209,850
404,153
547,448
937,329
386.700
604
R o ad #.
THE CHRONICLE
Latest Gross learnings
Wceko* Mi 1896-97
0!l, P»0,—tQlMl.)
8k30a.A G d.lt. 2d WkMar.
OeEt-Bianuh.: 2dw kM ar.
la n 1 to Latest D ate’
1895-96. j 1896-97
19,609
19,000
11.500
12,000
iV oL. LX1V
2 a week o t March.
1897.
1896.
$
6.270
224,522
269,502
6.162
17,408
00,720
49,700
$
4.616
248,935
284,584
7,781
17.703
54,566
52,400
$
1,654
6,159,651
6,257,362
334,737
1895-96.
216,178
2 U ,* 5 5
120,027
136,291
A efcxD iA W 1jJanuary.
33,05
25,416
33,0 V
25,416
Cten-Br.AL’dL, J a n u a ry ..
78,556 62,318 ;
78,555!
62,338
S M I b t a L 'd Ja nuary... 1,682.023 1,545.629 1,682,623 1,545,029
W abash............ 3d WkMar.
212,100 229,591 2,328,119 2 .000,101
f i e O i K o r t h w January..
15,119 19,138:
16.149'
19.138
W .JerseyAdea’e J a n u a ry ...
123,9'<5 131,592
123,955:
131,592
W.V.Oen.A PUL F e b ru a ry .
77,250 73,139
162,412;
170,601
West Y a-APitte December !
33,080 31.016
390,973
380,962
Western o f Ala,. J a n u a ry...
57,215 51,»57!
57,215
61,857
W ed .N .Y . A P a 2d w kM ch
49,700 52,400509,194
495,399
Wheel. A L. E rl*; id w kM ar.;
17,978 19,760! 196,240
245,475
Wisconsin Cent :3d WkMar.;
72,850 80,356
808,143
804,140
W -'vh tsv.A T en F ebruary.
7,719
6,683
15,929
17,772
• Figures given do n ot Include Oregon Ry. A Nav., TJn. Pan. D en verA
S a il, D enver Leadvtlle A Gunnison, Montana Onion and Leavenw orth
T opeka A South western. it These tlgures inolude reaalts on eased Hues.
e rnoludes earnings from ferries, eto., not given separately. 1 M exi
can oorrenov. e Includes only half o f lin e slh w hlob Union P a fiflo has
a half interest
d rnoludes operations o f the Ohio. B urlington A Northern In b o th
years,
tj Covers results for Hues directly operated east o f Pittsburg.
elnolu des results on affiliated lines.
f Covers besides the Atlantio System tha H ouston A Texas C e n tr a ],
Austin A Northwestern, Central Texas os N orthwestern and Ft. W orth
A New Orleans.
1 Inoludes St. Louis Alton A Terre Uaute fo r all periods.
Mobile A B irm ingham ...
Norfolk A W estern...
Northern Paolflo....... .
Rio Grs ndft Southern__
Toledo °e o rla A W esr'n.
Dn, Par Den. A G ulf___
West. N. Y. A Pennaylv
Total *76 roa d s).
N etilesro»a« : 1*56 o.
. .
Increase.
6,154
Decrease,
$
24,413
15,083
1,619
235
2,700
432,448
97.711
Net E a rn in g s tton tltly to L atest H ates.— The table f o l l o w
ing sh ow s the net earn in gs o f S t e a m railroads reported th is
w eek, A fu ll d etailed statem en t, in clu d in g all road s fr o m
w h ich m on th ly returns can be obtain ed is g iven o n ce a m onth
in these colu m n s, an d the latest statem ent o f this k in d w ill
be fou n d in the C h r o n i c l e o f M arch 30, 1897. T he n ext w ill
appear in the issue o f A p ril 17, 1897,
---- Gross E a r n in g s .--. .------Met Earnings.-----1897.
1896.
1897.
1896.
Roads.
$
$
$
*
Alabam a Gt.Southa.. Feb.
127,415
106,429
29,662
20,162
Jan. 1 to Feb. 28.......
282,589
231,126
70,000
3 6,509
Ju ly 1 t o Feb, 28....... 1,121,634 1,184,189
407,859
432.855
169,322
Allegheny V alley___Feb.
171,823
56,922
52,770
Jan. 1 to Feb. 28.......
316,719
360,539
119,239
106,951
A tlantio A Paolflo__ Jan.
278,451
303,482
53,579
26,366
July 1 to Jan, 3 1....... 1,925,515 2,080,059
429,274
191,885
Balt.A Ohio 8outhw..Jan.
472,492
-199,816
113,060
120,055
Ju ly 1 to Jan. 31____ 3,612.531 3,940,612 1,102,670 1,376,499
Latest C ro ss E a rn in g s b y W eek s,— T h e la te s t w e e k ly earn
Cent, o f N, Jersey,a-F eb.
821,549
218.680
848,939
255,957
i n f m th e fo r e g o in g are separately su m m ed u p as fo llo w s :
Jan. 1 to Feb. 28....... 1,704,155 1,831,117
511,175
569,250
For the third w eek o f M arch ou r prelim inary statem ent Cleve. Canton A S o..F ob .
46,177
44,323
8,843
3,523
Jau. 1 to Feb. 23. ...
11,524
e r«rs 45 roads, and sh ow s 0 9 2 per cen r in crease in th e a g
87,895
89,216
14,561
Ju
ly
1
to
Feb,
28
.
.
.
.
468,601
108,175
461,548
82,388
g re g a te over th e sam e w eek last yea r.
985,460
970,748
Clev.Oln. O.&Sc. L a .F e b .
242,520
235,361
Jan. 1 to Feb. 28....... 2 .0 4 2 ,1SI 2,073,008
520,143
477,400
3d week o f March.
1897.
.1896.
Increase. Decrease.
July 1 to Feb. 28....... 8,731,604 9,455,503 2,198,280 2,434,777
139,490
43,221
36,886
Peoria A East’n a..Feb,
137,249
$
$
$
$
29 4,289
Jan. l to Feb. 23. . . .
71,849
78,866
262,656
___ _
47,712
614
2«.328
July 1 to Feb. 28. . . . 1,096,033 1,326,446
251,725
339,788
A nn A rbor.........................
23,715
74
23,789
11,552
4,303
115,464
i u ,134 Colnmb. A Red M t.. Feb.
Balt. A Ohio Southwest..
....
125,598
___ _T.
Jan. 1 to Feb. 28.......
7,529
22,778
Buffalo Boeh. A P lttsb’g. I
56,237
52,186
4,051
325.000
18,000 Col. San. A H ooking. Jan.
Canadian P aoiflc....... .
341,000
9,714
60,190
10,265
61,063
235,844
54,966
Chesapeake & O h io.........
180,878
493,004
595,534
120,324
163,963
July 1 to Jau. 31-----87,600
93,300
Obloago A East. Illin ois.
5,700
12,140
7,746
3,449
2,839
62->,811
Chicago MIlw. A 8t. Paul.
508,538
117,273 Des Moines A K. C ...Jau.
Oln. Jackson AM aoHnaw
1,672 Duluth 80. Sb.A A tl.—
12,581
14,253
__...
205,17 4
361,796
484,423
88,957
Oot- 1 to Deo, 3 1 .___
Denver A R io G rande—
124,700
129,000
6.300
671,131
690,320
1,075
Jan. 1 to Dee 3 1 ..... 1,905,811 1,811.823
Bvansv. A IntUanapolis.
4,366
5,441
....
21,344
5,276 Flint A Pere M arq.a.Jau.
Evansv. A T erre H a u te ..
16,068
229,133
48,344
56,174
202.463
. . . . __
29,596
G eorgia..............................
25,267
4,319
150,054
57,743
59,073
152,060
Grand R apids A Indiana
38.025
3,674 G e o r g ia .a ... ............Feb.
41,699
297,191
304,338
108,156
113,138
Jau.
1
to
F
eb.
2
8
.......
94
Cin. R ich. A Ft. Wayne
8,264
8,359
1.L60.690
1,088,842
*402,013
*386,668
July
1
to
Feb.
28.......
687
825
138
Traverse C it y ................
7,700
16,302
27,193
36,166
Mns. Gr. Rapids A Ind.
2,167
2,911
774 Keokuk A W est’n,b.,Ja n .
331,030
Grand Trunk o f Canada.
7,707
323,323
9,639
6,225
34,910
35,110
Loulsv.Hend. A 8t.L .Jan.
Intern’ ! A Gt. N orth’n .. ,
60,339
52,593
7,746
17,017
27,402
101,965
122,015
Iow a Central.....................
29.655
15,173 Memphis & Chas’ n... Jan.
44,828
874,468
239,035
239,666
831,275
July 1 to Jan. 3 1 .......
T_r_ -_r
Kanawha A M ichigan___
8,628
428
9,054
rit„ . _rT Monter*y A M ex. G ulf—
Kan. City Plttsb. A G ulf.
11,309
35,490
24,181
85,566
144,334
288,348
6,394
5,276
319,560
Oct. 1 to Deo. 31.......
K an. City Suburb. B e lt...
1,118
........
399,228
384,671
62,246
57,909
4,337
Bake E rie A W estern__
Jan. 1 to Deo. 31....... 1,152,748 1,211,875
27,654
28,045
391
L onlsv.E vansv, & 6t. I ...
1,700
9,375
5,000
5,297
Nelson A Ft. Shep’d.F eb,
374,870
349,700
25,170
Louisville A N ashville...
19,129
9,247
11,124
2,894
Jan. 1 to Feb, 28.......
176,071
69,556
245, ti27
M exican C entral___ ____
52,178
55,903
143,901
144,168
N.
Y.
Bus.
A
W
est,
b..Feb.
83,161
31,879
115,040
M exican National___ . . . .
127,941
140,499
322,063
324,276
Jan. 1 to Feb, 28.......
37.264
1,802
39,036
Minneapolis A St. Louis.
636.860
706,590
July I t o Feb 2 8 .— 1,563,897 1,511,088
171,542
187,823
16,281
Mo. Kansas A T ex a s.......
86,879
442,778
205,828
23,000
548,631
365,000
342,000
Mo. Pacific. & D o n M t___
North. Central, b ...... Feb.
361,921
197,721
953,987
20,000
10,000
10,000
Central B ranch..............
Jan. 1 to Feb. 2 8 ....... 1,074,517
65,290
53,298
N. Y. Ontario A Western
11,992
295,294
67,409
257,315
Oregon RR, & N ay..F eb.
1,642
16,450
14,808
Peoria Deo. A B v a n s v ...
668,232
557,061
143,711
-_TI. r.
45,270
48,94s
3,676
Pittsburg A Western____
508,750
433,601
1,570,922
1,509,584
______
7,046
753
0,293
R io Grande Bouthem ----988,644
885,159
3,136,886 3,153,654
........
39.800
40,700
900
R io Grande Western.......
4,287,897
4,416,654
12,975,470
13,571,816
____ _
10,700
8t. L ouis Southwestern..
64,400
75,100
16,864
30,365
26,005
351,137
18,313
46,149
369,450
Southern R ailw ay...........
Spokane F alls&No.a.Feb.
62.744
33,105
51.783
103,162
92,804
109,097
5,935
Texas A Paoiflc................
Jan. 1 to Feb. 28.......
210,237
138,754
33,169
2,792
344,763
219,778
30,377
Toledo A Ohio C e n tra lJuly 1 to Fab. 28.......
36,684
2,396
39,080
To!. 8t. L. A K an, C ity...
7,4 49
67,709 def.8,429
63,145
Branch........ Feb.
17,432 Summit
212,109
229,591
Wabash,......... ...................
154,404 def. 7,609 def.2,381
139,059
Jan.
1
to
Feb.
28.......
___ ___
17,978
19.766
1.7S8
Wheeling A Lake E r ie ...
16,517
67,897
368
64,458
Lykena
Val.<
o
a
l.-.F
e
b
.
7,506
72,850
80,356
Wisconsin Central...........
............
26,589
7,341
144,499
150,477
Jan. 1 to Feb. 28.......
23,966
135,606 def.8,061
257,595
127,603
299,183
4,584,650 4,543,062
Total both Co’s...... Feb.
24,208
def. 26 3
304,881
283,558
Jan. 1 to Feb. 28 —
41,588
S e t inoreaee (0-92 p, o.)..
For th e secon d w eek o f M arch ou r final statem en t co v e rs
76 roads, an d ahowB l -56 per ce n t decrease in th e a g g re g a te
o v e r t h e sam e w eek last year.
2 d week o f March.
Prev’ly reported <45r'fls)
Atlantic A D an vlU e.......
Burl. Ced. Rap. A N orth.
Chicago Great W esternChic. A West M ichigan.. ,
Clove, Canton A South'd
CBev. Cin. Ohio. A 8t. L ..
Olev. Lorain A Wheeling
Detroit Gr. R k p. A West,
Flint A Fere M arquette..
Fla. Cent, A P eninsular,.
F t Worth A Denv. City.
G eorg ia...... ......................
Grand Trunk o f Canada.
Ohleago a G r’d Trunk.
Det. Gr. H av. A MUw..
Cln. Sag. A Mack..........
ToL Sag. A Musk............
Indiana Decatur A West.
Kan. «U y F t S, A Mem..
Kan. City Mem. A B lrm ..
Kansas City A Omaha. ..
Louisville H eud.A St. L ..
Memphis A Charleston..
Minn. 8t, P. A S . 8. M ....
1897.
$
4,281,749
) 0,928
71,592
86,082
27,670
12,472
230,089
19.950
21,513
5 5 ,1 18
43,984
17,070
30,844
327,125
59,386
17,015
1,811
1,998
5,881
89,741
21,122
4,204
8,082
25,043
53,038
1896,
$
4,304,150
12,273
100,035
99,150
26,179
11,011
220,080
22,158
28,053
65,547
41,331
18,037
30,253
374,873
88,852
10.328
2,549
1,159
8,620
77,481
20.455
1,573
8.411
23,418
75,000
Increa st.
*
285,104
1,491
1,461
10,0 9
3,400
.... ...
2,632
591
2,252
1,317
_
820
12,250
667
2,031
1,625
....
Decrease.
30*7,505
1,345
28,443
12,468
. ....
2,208
429
967
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
* A fter allow ing for other iuoom e received net from Ju ly 1 to Febru
ary 28 was $488,214, against $4 48,4 74.
I n te r e s t C h a rg es an d S u r p lu s ,—T h e fo llo w in g roads, in
addition to their gross and uet earn ings g iven in th e fo r e g o in g ,
also rep ort ch a rges fo r interest, & o., w ith th e su rplu s or d e ficit
above or b e lo w th ose ch a rges.
Roads.
Clev. Oln. Ch. A 8t. L,.Feb,
July l to Feb. 28.......
Peoria A E astern.,.Feb.
July 1 to Feb. 28.......
Flint A P ere M ar...... Jan.
STREET
9,260
. . . ...
733
2,739
329
____
21,962
,-In ler't, rentals,
--P a l, o f Met Marne —
1896.
1807.
1896,
1897.
$
$
$
$
1,161
1,471
233,890
211,359
544,357
293,511
1,901,769 1,890,120
85
6,420
36,801
36,801
45,375
294,413 def.42,688
294,413
5,250
50,924
(lef.3,183
51,527
r a il w a y s
and
t r a c t io n
c o m p a n ie s
.
The fo llo w in g table show s the ffr o s s earn ings fo r the la test
unriod o f all s t r e e t railw a ys fro m w h ich w o are able to ob ta in
>eekly or m on th ly returns. T he arran gem en t o f the ta b le is
the s a in s as th at fo r th e steam road s—that is, the first t w o
lolumna o f figures g iv e the gross earnings fo r the la test
weok or m on th , and th e last tw o colu m n s the earnings fo r
the calen dar year fro m Ja nu a ry 1 to a n d in clu d in g su ch la te s t
w eek or m on th .
TEEL (IHRONIOLK
M a r c h 27. ia»7. |
STREET
RAILW AYS
AND
TRACTION
Latest Or088 Earnings.
G ross
Earnings .
Week or Mo 1897.
1896.
COMPANIES.
Jan. 1 to Latest Date.
1897,
1896.
$
$
...
91,686
189,256
2L0.247
3,563
3,696
368,715 *474,112
10,334
10,469
174,003 169,592
2,679
2,444
6,927
6,336
9.767
10,029
58,258
59,554
39,628
44,625
5,782
6,456
Affron B edP dA Clev. December.
Akron st.Ry.<fc III. Co. December. 18,968 20,523
3,696
3,563
Amsterdam 8t. R y ...'J a n u a r y ...
AtL Consol. St R y .. . D ecem ber. 29,250 *62,848
4.9^4
5,314
Atlanta R ailway........ 'February .
Baltimore T ra ction ...1February . 84,085 82,266
1,257
1,133
Bath 8t. Ry. (N. Y .).. F ebru ary .
6,927
6,336
Bay Cities C onsol— January...
9,767
Blngnamton St. R y ... January... 10,029
Bridgeport Traction. 13d wkM cli
5,275
4,963
Brockton Con. 8t. Ry. February . 2 L,707 19,971
Br’ klyn Rap.Tr. Co.—
Brooklyn H eights.. F ebru ary. 311,552 313,239 651,314 646,882
BFklyn Qn’ns & Suo F eb ru a ry . 48,702 47.327
9.3,128
101.830
Total for system . F e b ru a ry . 360,254 360,566 753,1*4 743,010
1,327,774
Snttalo R y ...................D ecem ber.
1,369,227
24,952
Chester T ra ction .. .. February . 12*6*15 12’,270
24,821
65,871
Chic. «te8o. 8ide R.T.. January... 56,609 65.871
56,609
1,432
1,344
2,792
f'lty Elec. (Roine.Ga.), February .
2,870
Cleveland E le ctric...'F e b ru a ry . 115,513 118,977 239,691 241,38 4
Cleve. P ain sv.& E — Decem ber.
4,993 ............
Columbus 8t. Ry. (O.) 2d w kM ch 10,581 11,649 111,806 120,454
40,801
Coney Island <k B’lyn. :F e b ru a ry . 19,184 19,313
40,397
Dativ. Gas El. Light &
9,597
8,727
Street R y ...................January...
8,727
9,597
Denver Con. Tramw. February . 49.405 51,901
103,414 106,441
D etroit Citi’ns’ St. Ry. 3 wks Mch. 56,814 52.519 215,225 195,472
31,319 •si,914
67,048
Detroit Elec. R y ........ February .
64,782
Duluth St. R y............... Decem ber. 16,255 17,750 225,9 72 236,169
9,116 10,571
21,406
Erie Elec. Motor C o..'F eb ru ary .
19,374
2 3,317
Galveston City R y .. . February . 14,997 13,058
29,61
Herkimer Mohawk Ii3,327
3,313
lon a F 'kfort El. R y . j February .
6,748
6,924
491
455
1,010
a »osick R y................. (F ebru a ry .
973
23,252
Houston Elec. 8t. Ry. F e b ru a ry . 13,764 13.847
26,073
interstate Consol of
8,431
8,377
North Attleboro . . F ebru ary .
16,193
17,320
3,513
3,60
7,372
Rmgsrou <hty Ry. . . . February .
7.2 h2
9,113
7.953
^whigh T ra ctio n ....... February .
18.716
16,655
H»,332
5,2971
London 8t Ry. (Can.» .(February .
6.159
1 2,760
t* »well Law. & Hav . February . 2 5 ,7 .1 26,13-:
52 857
53.252
22,156 21,8 86 244,111 238,640
■Lynn <fe B o s to n ...___3d wkMarMetrop. (Kansas City) 1st wkMch 29.443 28,750
3,462
Montgomery 8t. R y.. February .
7,L50
3.919
7,569
Montreal Street R y... February . 89,95 l 87,395 189,588 182,452
50,664
Nassau Elec. (B’klyn) February . 102,359 25,126 211,983
6,430
Newburgh E lectric... Decem ber. Jo.150
New England 8t.—
15,385 15,405 244,408 231,945
Winchester A v e ___D ecem ber.
PlynTth & K ingston,December.
30,472
2,093
2,095
33,520
3,853
3,878
T ota l......................3d w kF eb.
5,101
2,41*<
2,415 • “ 5,119
New London 8t R y .. February .
S e « Orleans Traction February . 98.090 115,325 199,348 221,809
N. Y. A Queens C’ y ... February . 22,59 )
46,921
1,702
878'
Ogdensburg St. R y. February .
643
1,909
Paterson Ry ...
.. . February . 21,326 22,142
45,478
45,095
2,612
2,7 LL
1,314
Pittsb. Ft.Sub. E l.Ry. February .
5,140
10,595
4,974
5,150
Po’ keepsie& W app. F. February .
10,365
6 2,2871 68,783
Rochester R y ..............February .
7,252
Sohuylkill T raction..'F ebruary .
15,233
6,417
14,393
4,163
3,509
4.163
Sonuylkill Val. Trao.. January...
3,509
___ __
Soranton 4s Pittston. 'February .
4,147
8,877
49,915
doranton R ailw ay___February . 23.990 24,429
51,562
62,066
Second Ave. (P ittsb.)'February . 30.381 29,842
62,743
6,183
71,733
Sioux City Traction .. November,
6,829
71,739
2,690
2.304
5,348
ayraouse E’at-SideRy. February .
4,745
66,039
Syracuse Rap. Tr. Ry. February . 30,004 32,768
62,194
Terre Haute ETc. R y.'D ecem ber.
161.601 143,145
Third Ave. (N. Y.) ..(D ecem ber.
2,626,896 2,615,152
69,745 72,976 145,013 147,35 2
Toronrx) R y.................February .
Twin City Rap. T ra n .'Jan u ary ... 151,967 158 913! 151.967 158,913
30.116
Union (N. B edford)... February . 15,018 15,5111 30,883
United Tract. (Prov. February 119,034 125,075 248.2L7 256,649
12,251
Unit. Trac. (Reading) January... 11,677 12,251
11,677
6,221
3,224
Wakefield<te ^toue ... February .
2,993
6,501:
40,738
Waterbury T raction.. February . 16,473 19,282
35,544
11.176
Wheeling Railway.
January... 12,925 11,476
12.925
76,192
Wilkesb. & Wy. Yalley F ebru ary . 34,449 36,334
73,868
Worcester Consol...... October. .. 40.109 39.046
* Figures were exoepu oual iii L89 •ou account >f A tiaaia Exposition
t Decrease in earnings due to factories being shut down.
Street Kailway Net Earnings,—The following table gives
the returns of Street railway gross and net earnings received
this ween. In reporting these net earnings for the street rail
ways, we adopt the same plan as that for the steam roads—
that ib, we print each week all the returns received that
week, but once a month (on the third or the fourth Satur
day) we bring together all the roads furnishing returns, and
the latest statement of this kind will be fou n i in the
Chronicle of March 20, 1897. The next will appear in the
issue of April 17,1897.
-G row E a rn in g s-----. ------tret Earnings.
1896
1897
1896.
1897.
$
Roads.
$
493
849
5,314
*4,964
Atlanta Railw ay.......Feb1,048
1,016
10,469
10,334
Jan. 1 to Feb. 28.......
7,338
6,436
19,971
Brockton Con.St. Ry. Feb.
21,707
13,458
13,458
44,025
Jan. 1 to Feb. 28.......
39,628
*1,790
-295
12,270
Chester (Pa.) T ract...F eb.
12,015
*7,843
*5,337
24,821
24,952
Jan. 1 to Feb. 28.......
20.367
20,950
51.90L
Denver Com Tram w.. Feb.
49,405
40,686
42,507
106,411
103,404
Jan. 1 to Feb. 23. ..
7,931
9,065
31,31.9
31,914
Detroit E lectric R y .. Feb.
17,850
19,502
64,782
J a n .1 to Feb. 28____
67,048
7,972
9,292
26,132
Lowell La wr’ ce & EL. Feb.
25,7 LI
14,728
17,137
53,252
52,857
Jan. 1 to Feb. 28.......
83
def.289
2,415
New London 8t. Ry..Feb.
2,418
440
266
5,101
Jan. 1 to Feb. 2 8 ... .
5,119
56,070
33.870
115,325
98,090
New Orleans T ra ot..F eb .
106,015
65.096
221,809
Jan. 1 to Feb. 28.......
199,348
599
1,660
1.314
Pitts.Fr.&Siib.El.Ry.Feb.
2,612
1,179
3,254
2,711
Jan. 1 to Feb. 23.......
5,130
1,966
1,399
5,150
4,974
Pough.CJtydcW. Falls. Feb.
3,199
3,040
10,595
10,365
Jan. 1 to Feb. 28.......
month
now
being
* Method o f reporting expenses changed; each
oharged with Its full proportion o f all expenses
6U5
Interest Charges and Surplus.—The following Street
railways, in addition to their sto3s and net earnings given in
the foregoing, also report charges for interest, &c., with the
surplus or deficit above or belo w those charges.
, Roads.
Denver Con. Tram w.Feb.
Jan. 1 to Feb. 28.......
r—Inter't, rentals, &c.~ -B a l. o f Net Earns.—
1897.
1896.
1897.
1896.
18,32 9
36,551
ANNUAL
17,870
35,673
2,621
5,956
2,497
5,013
REPORTS.
Annual Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
f the I nvestors’ and Street R ailway Supplements.
This index does n o t include reports in to-day’s Chronicle ,
R ailroads and Mis c e l . Co’ s.
Volume 6 4 —
Page.
Alabama Great Southern................ 325
Ala. X. O. A Te x . Pac. Ju n e ........... 325
American Dist. Te l .......................... 327
American Soda Foun ta in................ 284
American Straw Board................... 327
Atlantic & Pacific............................. 17W
Baltimore Chesapeake A Atlantic.. 284
Brooklyn W harf A Warehouse Co 421
Canadian Pacific ................ 494, 512, 519
Central RR. of New Jersev. ... .. 283
Central Union Teiep. (Chicago)... 323
Charleston & Savannah................... 421
Chicago A Alton ...................... 357 370
Chicago Great Western, half-year.. 325
Cnicago A North-W estern......... .. 263
Chicago Peoria & St. Louis...... 284, 3i6
Chicago St. P. vi. & 1>maha............... 514
Commercial Cable Co....................... 505
Cumber.and V alley.......................... 467
Delaware A Hudson Canal ... 231, 370
Delaware Lack. A W estern........... 23L
Diamond Match ............................... 285
Edison Electric 111. of Brooklyn... 231
Edison Elect. 111. of N. Y..231, 327, 3*2
Georgia Railroad.............................. 231
Green Bay & W e s te rn ................... 178
Huntingdon A Broad T o p .................320
Illinois Steel............................. 327, 372
Indiana & Lake Michigan ............. 467
Lake Erie & Western...................... 37 L
Lehigh Coal
Navigation....... ... 371
Lehigh & Wilkes-Barre Coal.......... 466
Maryland Coal......................................372
Mexican Central................................ 405
Cleveland
&
R ail ro ad and Miscel . Co ’ s ( Oon .)
Volum e 61—
P age.
Mexican National............. 548, 563, 569
Missouri Pacific................................ 513
National Lead .............................. 372
National Linseed O i l . . . ___ . . . . . . . 408
New Central Coal (M d .)................... 515
N. Y. Chicago & St. Louis ............. 371
N. Y . & New Jersey Telephone__ 515
Northern Central...................... 371, 375
Oregon Improvement Co................ 234
Pennsylvania R R ............. 443, 465, 470
Pennsylvania Steel Co..................... 506
Philadelphia & E rie ...
. . . . 326, 371
Phila. Wilmington & Baltim ore... 178
Pittsburg & Lake Erie ................... 230
Quincy Mining Co............................... 468
St. Louis Iron Mt. A Southern .... 514
St. Louis Vandaliadfc T . H ........... 420
Savannah Florida & Western........ 421
Summit Branch R R .......................... 421
Tamarack Mining Co........................ 560
Tennessee Coal, Iron & Railroad.. 505
Terminal RR. Asso., St. Louis...... 615
Texas Central................................... 514
Trenton Potteries.............................. 327
Terre Haute & Indianapolis.......... 466
Terre Haute A Logansport........... 467
Terre Haute & Peoria.................... 407
Texas & Pacific......................
504
Union Pacific Denver & G u lf.. . 564
United States Leather Co.................422
Western Maryland ......................... 178
Street R ail w a y s .
Louisville R y ...... .............................. 466
Pittsburg Railroad.
( R ep o rt f o r the y ea r ending Nov. 30, 1896.J
President R. F. Smith says:
In view of the great depression in busiaess, largely if not
wholly due to the political conditions prevailing during the
year, the result from operations is very gratifying. The e x
penditures on account of betterments to the property for the
year 1896 are reported by the lessee as amounting tn $67,745.
There have been issued, to apply on the amount due the
lessee company for betterments, $316,000 of general mortgage
bonds [$200,000 of this for 375 new coal cars—Eds ], and
$173,000 of consolidated and construction and equipment
bonds have been retired and canceled by the operations of the
sinking funds.
The annual meeting of the stockholders will hereafter be
held the day following the third Wednesday in May.
Eirnings and charges are reported hy the lessee as follows:
EARNINGS AND EXPENSES.
1896.
Earnings.
$
Passenger........................... - 576,678
Freight........................- ........2,506,955
Mail, express, e t c ............... 142,982
1895.
$
615,658
2,784,145
155,694
1893.
1894.
$
$
641,767
584,186
2,186,019 2,269,334
130,117
127,514
.3,226,615
.2,057,643
3,555.497
2,076,426
2,897,719
1,802,338
3,041,218
2,109,904
.1,168,972
1,479,071
1,095,381
931,314
786,976
311,495
10,0 >0
27,699
786,976
322,995
10,000
30,862
786,976
323,820
10,000
36,300
T otal....................
. 786,976
. 305,970
10,000
For maint’g organization.
.
28,722
.1,131,668 1,136,170 1,150,833 1,157,100
.sr. 37,304 :sr. 342,901 df. 55,452 df. 225,790
The balance sheet onl Nov. 30, 1896, was as fo llo w s
Liabilities.
Assets.
Road and equipm ent..$18 ,969,148 Capital s t o c k ...---------$L 1,247,528
Fund’d
debt
less bonds
274,649
Cash...............................
in sinking fu n d........
6,050,370
29,436
Fourth inort. red. a cc’ c
Due
on
dividends
and
430.000
Con. mort. sink. f ’d ....
cou p on s....................
264,272
261,210
Lessee materials aco’t.
507
566.000 Due on betterm ents...
do sink.f’dred.aoe’ t
20,875
1,317 Due individuals..........
M iscellaneous..............
Bal. incom e accou n t.. 2,948,200
T o t a ls .................
Balance to le s s e e ...-
Total........................$ 2 0 , 5 3 1,752
- V . 62, p. 1087.
Total........................... $20,53 1,752
Oregon Improvement Company.
C R eport fo r the y ea r ending N ov. 30, 1S96J
T h e s ta te m e n t of e a rn in g s fro m the a n n u a l re p o rt w as p u b
lish ed in the C h b o n i c l b of F - b . 6, page 284. I n the f u ll
re p o rt n o w at h a n d R e ce iv e r C. J. S m ith says s u b s ta n tia lly .
“ General Results.—The unsatisfactory exhibit o f the com parative
business of 1 896 m ay be accounted for as follow s:
,
“ First. T he se v e re com petition on all its steamer routes an d th e
expensive character o f the operation of the m ajority o f its^steamers.
“ Second. The reduced output of its Franklin muie du.i to fl es of
previous years, and the reduced pnoes of coal consequent on tne
increased com petition, both local and foreign.
fi
f , inh
“ Third. The scattered character o f the property, a p o & o n < * w M 6lL
(railroad branches more particularly) are n ot profitable m t h e ^ e lr o s ,
can not be reasonably m ade so, and contribute very little as feeders.
THE
6 0 ti
C H R O N IC L E .
The reecflou o f the mmp&W8?% ttm n m rb per ton hove fallen from
$3 12 In lsw 4 to .>171 In 1805 and $2 02 In 1800, Til© present rates
are ulmoruiutly low and van b© tnntorlally Inoreaansl.
Weed 0
/ Nete steamers, efc.—t t sliowld be the policy o f tli© com pany,
how ever, to m aintain its service and Im prove it, where necessary.
Its future success will depend very large y upon the adoption o f such
a policy and its ability to carry it out. The past p o licy has been
unfortunate. F or thirteen years, with one exception {the “ Corona'b. the com pany tin© built no new steamers. As a eo ©sentience,
while they have added d aring this p eriod eight steamers to their licet,
hone o f them wore adapted to the special requirem ents o f the service,
or provided with econom ical devices; all were second hand, and som e
o f them were purchased a t high prices and with the view o f retiring
com petition, which the policy o f the com pany and the character o f its
fleet invite*!. Tw o vessels o f the class o f the ‘P om on a" and “ C orona"
w ould do the w ork o f seven w ooden boats. The cost o f tw o such
boats w ould be about $100,000, the net incom e o f which w ould be
nearly 21 % per cent per annum.
A definite policy o f providing a reserve fund for building regularly
such steamers m its business necessities demand should be adopted at
once anti adhered to, regardless o f tem porary depressions. With this
end in v iew the steam er “ Queen" lias been thoroughly overhauled.
This w ork w ill cost about $100,000 and will bo com pleted in January,
1897. Wharves should also be purchased In several locations, con
trollin g by this means tributary business and lim iting com petition.
T he Colum bia «fe Paget Sound R R . is suffering from the same narrow
p o lic y that a fleets the s learners. I ts gauge should be changed.
Financial.—In addition to the current expenditures for operation
th ere have been paid during the year the follow in g am ou n ts:
S ea ttle tide la n d s ....................................................... ..................... $10,859
Judgm ents on accoun t o f personal accidents o f Oct., 1892 ___
7,787
Judgm ent for insurance prem ium o f 1 8 9 1 ,.......................
11.105
Interest on 1st m ortgage bonds Deo., ’95, and June, ’9 6 . . . . . . 244,260
Interest on same to O ctober 15 th __ . . . . . . . . — ........................
2,727
Repairs o f steam ers “ C orona" and “ Coos Bay” ....................... 54,000
Final paym ent on steam er “ St. P aul” .......... ............... .............
20,000
O verdraft o f P acific C oast Steams’# Co. date o f receivership. 40,000
T axes p rio r to 1896.................................................................. .......
1,798
T o t a l . . . . . . . . . . . ......... ........................ .............................................$39*2,536
The obligations o f the receiver for repairs, etc., aggregate $226,000,
against which there is available cash on hand about $ 110 ,000; bal
ance, $116,000. A s $90,000 o f this is o n long tim e paym ents, the
present debt to be paid from fu tu re earnings is about $26,000.
T he outlook fo r the com ing year is better than 1896. There w ill be
less com petition on the steam er routes, better rates and slightly in
creased business, and the coal business also prom ises better results.
R e q u ir e m e n t s f o r 18 97. — T h e r e q u ir e m e n t s f o r t h e y e a r
1897, as e s tim a te d b y ilie r e c e iv e r ac S e a ttle are s ta te d in a
lettt r to th e M a n h a tta n T iu s t C o . a n d t h e F a r m e r s ’ L o a n &
T ru s t C o , a p p ro x im a t* ]y s s fo l l o w s :
Oregon Im pt, property, coal lands and op en in gs. . . . » ____ _ $285,000
Columbia h P uget Sound R R . im provem en ts................. . . . .
315,000
Steamships a n d w harves....... ........................................ ....... . . . 1,540,000
P acific Coast R ailw ay C om pany........................................... .
30,000
rvoL, L x i v .
,
i
E a rn in g s.—‘ From Mr, Little’s statement we have compiled
the following, showing tin results on each division o f the road
; for two o f the three years :
j
j
Yenrend.
Grnu
Net
Mr. Little's Umtals, Balance,
taxns^c. sur.ordej.
juneS o. earnings, earning, deduct'm.
Oonsol- R R .o f V I.
$
$
$
Mont A Whitt* H iv, . 1896. .2.075,090 *:m.?27 140,081
Misuteq. Valley........ f
1,835.077 • m W 7 58,524
Burl. & L a m o ille ,,.,, j
Montreal
Port. & H -0 6 .. 51.931
18,518
804
Boston...... ............
* 1395.. 60,153
?,0H
198
Stanstead Sfcefford & 11893.. 62.1*5
3,609
177
C humbly............. .... J 169x . 57,333
97
983
Montreal & Vermont \1890.. 165,508
57,913 13.199
Ju n c tio n ..................J 1895.. 168.105
57,779 . . . ___
Brail!©boro & W h ite - \1890.. 14.429
2,935
3.758
11,974
hall ......................... > 18?S • 45,880
2,210
Now London North- \18 M . 801,848
881,150 19.390
era ........ .......... .
{ 1815.. 8L3.7U
313.^76 17,637
New London N o rth -H S O d .. 229,530
35,137 ............
era Steamships. . . . . i 1895.. 213,298
2(3,805 .......... .
’ Leases Canceled—
809,522 88.92*
Rutland R R ............... j I S ” 9321615
367,032 11,93 i
Ogdenshure & Lake 1 1890.. 814,732
183.013 35,537
192,117 32,719
Cham plain...........,.?1S95.. 831,272
540*813 dor. 113,767
5130,904 dof,
9.119
7.810
8.750
7.938
50.407
60,330
48.221
sur.
i1«f.
(let.
7.093
35*
6,818
sur.
7,629
,ior. s,8i a
def. 6,86*
10.JW7 def. 11,100
10,530 def.
768
233,187 sur. 78.633
242.374 stir. 58,876
sur. 25.137
sur. 20,8113270.087
330,835
280,071
237,9*4
sur. 9,513
do f. 35,O il
dof. 112,608
daf. 108.548
Grand total Of ays* M 8 *G. .5.123.763 1,499,153 236.970 1.395,35* dof. 133,171
tem..............> 1895..5,032,43* 1,547.081 124,245 1,323,180 def.105.38l
* N o t e .— I ncindes $12,150 of other income In each year from bonds owned,
viz.: To w n of W ill lain atown, $30,000 of *iUg, $1,350 *, Canada Atlantic, $18,000of 5s. 1900: Ogdensburg Tra nsit Co., $170,000 of 6s, $10,200.
T he n ext table sh ow s in m ore detail the in com e a cco u n t o f
th e s y ste m .:
Years ending June 3 0 —
1896.
$5,123,760
3.C39.057
1895.
$5,032,431
3,497,824
1894.
$5,1-9-1,571
3,809,470
Vet earnings. ................... $1,486,703
Mr. Little’s deductions—
Additions and betterm ents.. $165,531
71,439
Im pairm ent o l e qu ipm en t...
$1,534,610
$1,289,101
$77,746
46,499
$220,166
51,499
$1,219,733
12,450
$1,410,305
12,450
$1,017,436
12,450
$1,262,183
$1,422,815
$1,029,888
$112,131
26,250
101,643
$126,955
27,750
115,116
$131,528
29.250
111,826
350,000
7,752
900,607
350,000
7,7 52
899,682
Ada other in com e...
Charge s -
,
Int. on equip, bon ds...............
Interest, on floating debt.......
Rental o f subsidiary H ues...
350,000
Int, on Cor sot. RE. o f Vt. 5!j
7,752
Inf. on Sts net. 8 . &V. bonds
Rentals of leased roads___ If 797,578
T o t a l ........................................................... .............. ................$2,170,000
L ess cash on h and............................ ..............................................
130,000
T otal charges................... $1,395,354
$1,528,180
$1,530,038
Balance........................... def. $133,171 del. $105,365 def. $500,152
N et total r e q u ire m e n ts................. .................................... ...... $ ‘2 ,040,000
E x p ert Thomas L. Greene in 1896 estim ated the im mediate
cash requirem ents fo r Im provem ents a t .......................
$1,500,000
U Noo k,—R eduction com pared with 1895 Is due to non-paym ent o f
rental of Rutland RR. after M arch 19 ,139 7, when receivers were ap
pointed fo r Central Vt
T h e e stim a te s in t h e r e p o r t o f M r. G r e e n ( w h ic h w a s c ite d
in t h e C h r o n i c l e o f J u n e 13, 1896, p. 1084) a r e t h e r e fo r e
m o r e th a n u p h e ld o y th e in d e p e n d e n t ju d g m e n t o f th e r e
c e iv e r .— V . 62, p , 284.
Mr, Liulfc’d balance sheet, as of Jane 30, 1898, in condensed
form, is as below given. That it may embrace the Coasolidatrd RR of Vermont (leased) he introduces the item of
$8,050,01-0 Es’ate of the Consolidated RR. o f Vermont, and
offsets it on the credit side by the $7,01)0,000 5 per cent bonds
due in 1913, preferred stock $750,000 and common stock.
$300,(00.
C en tra l V e rm o n t B E .
( E x p e r t L it t le 's R e p o r t t o J u n e 8 0 , 1896. J
G E N E R A L B A L A N C E S H E E T J C N E 30, 1896.
M r. S te p h e n L it t le ’ s r e p o r t , r e c e n t ly m a d e p u b lic , is a d
Liabilities.—
A s els.—
d res sed to P r e s id e n t P e a b o d y , o f th e A m e r ic a n L o a n & T ru s t
$750,000Con. RR. o f Vt. 1st in., $7,000,000 P rf.st'ck con . R R .of Vt.
C o m p a n y o f B o s to n , a n d c o v e r s o p e r a tio n s f o r th e th r e e y e a r s
750.000 Common
do
do
do
p ref'd stoelc.
300.000
do
coni, sto ck ..
300.000 Com.st’ek Gent. Vt.RR. 1 ,000,000
e n d e d J u n e 30, 1896, its o b j e c t b e in g t o s h o w w h a t is c o n
450,131
Consol.
RR
.
o
f
Vt,
1st
Trust
equipm
ent.........
sid e r e d th e r e a l n e t e a r n in g c a p a c it y o f t h e p r o p e r t y a n d its
2 2 2 / 19
m ort. assum ed......... 7,000,000
Other RR . p ro p e r ty ...
fin a n c ia l c o n d itio n J u n e 30, 1896.
111,594 Cent. Vt. RR. 1st in .)
R eal estate...................
M r. L itt le t h e r e fo r e d e d u c t s fr o m th e n e t e a r n in g s o f th e Stocks ow n 'd (oo.’ sval.) f 1,147,410
(pledged as o o lla tfo r > 2,896,000411,600
loans see eontra)___ )
se v e r a l lin e s o f i b e s y ste m th e c h a r g e s f o r “ a d d itio n s an d B ondspw ued (parvnl.)
104.000
do in tre a su ry ...
Lam
oille
Valley
ex
ten
811-1
b e tte r m e n ts ,” w h ic h o n th e e n tir e s y s te m f o r th e th r e e y e a rs
350,000 Equipment, b on d s.......
425.000
sion bonds held i
a g g r e g a te d $463 442, a n d a fu r ih e r a m o u n t f o r im p a ir m e n t
gam sp'guar.bonds”
Guar, bonds O. & L. C.
318.000
& .
C urrent Liabilities—
o f e q u ip m e n t o f $ 69,437, R e g a r d in g th e p r o p r ie t y o f th ese V erm ont Cent, bonds
30,000 Notes
and stock (est, val.).
p a y a b le.............. 1.508.071
d e d u c t io n s , h e s a y s :
Bills payable ..............
663,053 •
Cent. Vt. consol, 4s
Up to June 3b, 1892, tiiis was the m ethod em ployed by the .com pany
(xdedged as o o lla t fo r 2,896,000 Am er. E xpress Co.......
350.000
Itself, and I believe to e prop© tnetbod. Th© receivers, m oreover,
Interest
m
atured
on
?
loans) see con tra —
have a h o adopted it since tlndr appointm ent on Marob 19, 1836.
eon. RR-. o f Vt. bonds C 213,477
do
in treasury..
104,000
* * *■ The moof-y. howe* er, has been spent for the benefit o f the
Int. due and accrued > 170,202
Current Assets.—
property, and whether it was derived from th© inoom e o r fro n b r- Cash on band................
on O. & L. C. bonds. >
198,456
row iug, or both, seems to m e to be immaterial. Unless the in com e is Materials on hand.......
978,534
299,838 D ae on open aects.,oto.
charged with the whole am ount on cannot safely d e t^ m in e wha
169,438
E qu ip't to b e renew ed
Due from agents, open
your net earnings applicable to Interest on funded and floating d ebt,
accounts, e t c ---------864,518
etc., r«allj weie. Another strong reason why the iueom e eh a d be P rofit and loss deficit. 1,764,209
thus charged is th- fa c t that while your net indebtedness from 1893
to Ite&O Increased *938,011, or 23*s7 per cent, your net earnings from
............ $16,905,775 T otal............................... $16,905,775
Total.
all sources increased but -159,653, or 1 i*48 per cent
The fa ct th it thin equipm ent has disappeared from the lists, but
f N o te .—T he par yalue o f stocks ow n ed June 3 0 ,1 8 9 6 , wore as
that no pros ision Has m e n m ade in the accounts for its renewal, ia
follow s: M ontp’r & W hite E ly. R R . (all), $500,OuO; Ogdensburg & L ake
undisputed; the equipm ent has died in the lists, bur, st.n d a in the
Champlain, $1,591,000; Stanstead 8. &C. RR. (all), $500,000; Verm ont
equipm ent a©©cunt on the books as a live asset. Tuer* can b© no
Central, $2,500; Ogd. Tran, (out o f $800,000) $405,000; Grand Isle
question then as to the propriety o f m y treatm ent o f this account.
Steamboat Co., $30,000.
A s to oth*-r m a tte r s M r. L tttle s a y s :
A severe drain on your revenues is ttie very large am ount you pay
M ileage, S ecu rities an d R en ta ls o f L eased L in es .—As the
fo r the m e o f cars o f other com panies in exm ss o f win t other o >mpanies pay for the use o f your oars, thus proving very ole *rly that
compai j ’s relations to its subsidiary lines have been difficult
our car equipment Is inadequate for the eondm Co f your business. Io
of comprehension we give below a table prepared by us to
ie three years, 1891 to 1896 inclusi* ©. $698,97? was paid out fo r
show the mileage, securities and rentals of the several lines
car m ileage o w r a d above amounts received f *r th** three years.
le&sed
and couirclled. On Deo. 14, 1891, it was voted to con
Cross ties laid per mU© o f road la mt>4 were about &ti ; la l u95
about 363 and in 18fir. about 376. \t 3,000 ties to the mile* tbt> shows a solidate the Central Vermont RR. Co. itself, which owns no
fa ir average for m einLmanee. O f the steel raitg laid, 9o5 tons were line in fee, with the Consolidated RR. of Vermont (including
put down In - MM 230 in i b9> and 2,300 in 1896,
the Vermont & Canada) and the Montpelier & White River,
Touching the deficit o f $ t !.7 ,s6 » on the Rur.Uad Division fo r the
three years, it mud have hmu. largely aqstmeifcei >u r y o t •liveried
the latter beii g entirely controlled, l’he consolidation was
the through
over the Central Vermom H u es pro wr. -v u m are
approved try the Legislature of Vermont, but apparently was
ra d ica lly parail*-1 to It. Y our Auditor estimates th <t 1« 814 the
never formally carried out, the stock of the Consolidated RR.
utlttnd D iv id e o earned «ro*s 3195,00-) and in 13)> *4.10,J j »o
business that could have bc *n seat the o»h *r wav. Auu-vi iz i - r i s *• of Vermont being still iu the hands of the public and all re
figures the coat o f o p e rd t- g that division in each year, and yo i h iv iports r-h'iwiug the companies as independent organizations.
net for 1894 *68, 0*»# a* d for 1895 $80,000, total *ia8, *0 \ wh*
L is lated that the nutter may come up for investigation by
could be added to its deficit and subtracted from the deficit o f th e
t . e c uns during future litigations.
“ consolidated", so called.
S
S
THE CHRONICLE,
M abch 27, 1897.]
The table prepared by us is as follows:
Comvany—
Miles.
Consol. R R. of Y t .
)
W inds’r, Vt.,to Houses >
Pt.,N. Y., & brs ... S
Mont. & W hite Ft. R R .)
Montpelier to W iil->
iamstown, V t .........>
B url. & Lam . Val. R R .)
Essex June, to Cam-!bridge June., V t — )
Mississonoi Valley R R . )
St. Albans to Rich—
fort. V t. ...............)
Montreal & V t. Jc . Ry . )
Canada line to near a
St. Johns, P. Q ------ )
Annual
re ital.
14
none.
none.
95 years
26 )j from
1889.
95 years
28 ^Sfrom
1838.
Stock
outstand'g.
Bonds
oulstand'g.
$350,000
30 years in t’rest
on
179 )^ from
1881.
bonds.
MontJPort.& Bost.RR.)
St. Lam bert to F a rn - >
ham, P. Q., & br ... )
Stanste’d Shef.& C.RR . )
S t.Jo h n s to W a te r->
loo, P. Q ...... ............ )
New London N o rth ’n .)
New London, Conn., [•
to Brattleboro, V t .)
Brattleb.&W hiteh.RR . )
Brattleboro to South >
Londonderry, V t . . . )
Le%se
runs.
$20,200)
5 p. c. on stk., &c. )
$20,200)
4 p. e. on >
s tk , &c. )
$7,000,000 c’m.$750,000
pfd. 300,000
of 5s.
none.
f
$500,000
all owned.
$400,000
none.
I 5 per cent.
none.
1
$500,000
4 per cent.
23
97 years
from 1887.
$60,000
$200,000
$ 1,000,000
41
(?)
$7,200
$1,000,000
$900,000
43
(?)
$7,752
$ ' 00,000
+279,300
all owned.
99 years
$201,401 $1,500,000
121 S
£from 1891. int.& divs. of 4s & 5s.
$•.500,000
8-9 per ct.
99 years
36 J) froml8304
$9,600
minimum
$150,000 J
6 p. cts. )
$200,000
LEASED LINES ABANDONED BY RECEIVERS.
Rutland R R.
)
999 years
$365,557 S $3,500,000 pf $4,239,100
135 \
Bellows Falls to Bur
in 1895 } 4kjs,5s& 6s
4 per cent.
) from 1890.
lington, V t., & b r . . . )
$226,450
$3,077,500
Ogd. & L . Champlain. )
$3,850,000
)
In
perpetinter’st on Of 4s & 68. ($l,591,n00
Rouses Point to Og-> 126 )
uity.
bonds, &c.
owned.)
densburg, N. Y..& b r .)
Total.
$1,258,359
772
+ Central Vermont pays 2 per cent interest ($7,?52) on this amount and owns
£191,200 of the loan in addition.
* T o New London Northern; operated since 1883 by Central Vermont.
—V. 64, p. 567.
S tr e e t’s W e ste r n
S t a b le C a r L in e .
f R i p o r t fo r thz y e a r en d in g Dee, 31 , 1896.J
A t the annual meeting President Fisher said in p a rt:
The results accom plished daring 1898 surpassed som ewhat those o f
1895. There was disbursed for interest on bonds the sum o f $70,000,
and in addition $50,000 bonds were purchased for the slaking fnnd at
prices ranging from 9 8 14 to par. D iv id en d o f 7 per cent was paid uD on
th e preferred stock outstanding, am ounting to $54,381; a surplus for
the year remaining, after p aylug operating expenses, o f $91,022. This
surplus was absorbed by the paym ent o f $96,964 on accoun t o f car
tru sf notes, being all o f such notes m aturing during the year. In
brief, your com pany has been able during the year prom ptly to meet
Its outstanding obligations
On January 1, 1697. there rem a iled outstanding car trust note 3
amounting to $152,749, as against $239,683 Jan. 1, 1396. These
notes are payable by years, including interest, as fo llo w s : 1897, $93,543; 1898, $42,211; 1899, $29,470. It will be noted that by far
th e larger am ount is payable in 1897.
A resolution was p issei authorizing the directors at their
dscretion to ex end the car trust obhgatious so a3 to increase
in future the funds available for dividends.
S ta tistics. —The earnings and expenses were as follows :
M ileage e a r n in g s .......
M iscellaneous receipts
1896.
...$ 4 2 1 ,0 1 5
1895.
1894.
1893.
$412,8 >0 $417,484 $527,714
7,581
26,716
9,730
Total ......................... ...... $424,514
O perating e x p e n s e s ... ....... 159,109
$419,901 $444,200 $337,444
160,744
158,500
165,169
Net earnings........... . . . . $265,405
I n t e r e s t ........................ ___ $70,000
Sinking fu nd s............... .
D iv id en d s....................... . . . . 54,383
M iscellaneous...............
$259,157 $279,031 *378,914
$70,000 )
50,000 y $229,949 $341,636
54,383
4,753 /
T ota l.................. .
Surplus........................
— V. 62, p. 275.
$179,136 $229,9 49 $341,63 i
$30,021
$49,082
$37,303
607
less, thus showing a corresponding increase in net earnings
Four million passengers were carried during the year. Con
sidering the general depression the past twelve months the
company, it is thought, has done well.” —V. 61, p. 1063.
W i lk e s b a r r e & W y o m i n g V a l l e y T r a c t i o n C o .
f R ep o rt fo r y ea r ending D ec. SI, 1896.J
Earnings, expenses, etc., for the late year compare with
previous years, as fo'lows :
le a r s ending Dec. 31 1896.
Earnings—
$
Gross e i r n i n g s ............................. ........ 507,862
Operating expenses ....................
1895.
$
451,941
209,600
1894.
$
400,143
196,824
Net earnings ......................... .
Charges Interest on b o n d s ....... ..........
Rentals, ta x e s etc ........................
242,341
203,319
100,125
34,089
93,259
29,348
T otal................. ....................... .
Balance, surplus, fo r year ........ -------- 119,334
134,214
108,127
122,607
80,7X2
COMPARATIVE GENERAL BALANCE SHEETS OF DECEMBER 3 i .
1896.
Assets—
$
Property and franchises......................... . . ......6,666,105
215,250
Pe soTial p o p e r t y .................
Pittston street car sinking fund....... ..............
12,000
9,69 4
Supplies on hand ................................... ...........
Bills receivable, etc .............
639
Open accounts (construction)........ ...............
90,965
Cash on hand.......................................................
4,088
1895.
$
6,823,039
215,385
6,000
8,600
4,000
60,769
14.363
Total.............................................................. 6,998,741
Liabilities—
C ipital stock .......................................................... 5,^00,000
Fi st m ortgage bon ds........................................ 1,509,000
Collateral trust bon ds..............
325,000
Unfunded debt ................... .......... . ................
84,167
17,695
Open accounts (construction) .........................
Profit and loss, su rp lu s .....................................
71,879
5,000,000
1,500,000
153,000
T ota l.......... ..................................................
- V . 62, p. 361.
7,132,156
6,998,741
7,132,156
182,534
296,622
A m e r i c a n B i s c u i t C om p an y*
( S ta tem en t f o r the y ea r ending D ec. 31,1896. J
This company, which is a competitor of theJNTew York Bis
cuit Company, and operates about forty bakeries, makes the
following statement:
The affairs o f the corporation are in a healthy condition. The
regular dividend of 6 per cent was paid out of last year’s earnings;
3 per cent having been disbursed Aug. 1, 189 J, and 3 per cent Feb. 1,
1897. Th* report states that the bonded dsbt of the company is
$615,010, or same as it was last y e a r; $100,000 of which matures in
190(>, balance in 1910. These bonds were issued in payment for real
estate purchased hy the com pany some time ago, and are secured by
specific liens on such real estate. They are liens ou uo other property
owned by the com pany. Tue company owns valuable real estate free
and clear from this incumbrance. Aside from the bonded indebted
ness, the com pany is entirely out of debt, having cash on hand con
siderably m ore than sufficient to pay all outstanding bills Following
directors were elected for the ensuing y e a r: J. L. Loose, L D. Dozier,
D. F Bremner, W. W. 8 haw. H. F. Vories, A. Manewal, J. 8 Loose, M.
Carpenter R. A. Johnston, Joseph Garneau, J. T. Frost, F. W. Crocker,
/ . J. Langles, F. L. Sommer and S. D Works.
The officers are: President, J. L L o o se ; First Vice-President, D. F .
Bremner; Second Vice President, L. D. Dozier; Secretary, H. F .
V ories; Treasurer, W. W. Shaw. —V. 62, p. 363.
A m e r ic a n S crew C om pany.
f R ep ort f o r the y ea r ending D ec. 31, 1896,)
I q the report of this company, which has headquarters at
P/ovidence, R I., Presilent Edwin G. Angell says in p a rt:
General Resu Is—The general adverse conditions have been supple
mented by an iutense competition am ong screw makers and the re
cent exceptional decline in consumption o f wood screws. Fo’. lowiug
T h e B a lt i m o r e T r a c t i o n C m >any.
the dissolution of the screw pool in 1894 our sales showed a very con
siderable increase, but during the past year they were less than one( B ala nce Sheet D ec. 31, 1 8 9 6 .)
half o f those o f the year previous. Prices of wood screws declined
Referring to the annual report n our issues of Feb. 6 and heavily and now are about one-third less thaD those obtained at an
auction sale some years since, then considered ruinously low.
13, pages 285 and 326, we give the following balance sheet:
Labor difficulties at Leeds have delayed prosperity there.
The
STATEMENT DECEMBER 31. 1896.
British Screw Company, Limited, has, however, secured a business b e
Assets.
yond its present capacity. To double the present output will require
Liabilities.
but a m oderate expenditure beyond the cost o f a mill building. Prices
Cash .............................
$168,143 Capital sto ck ..... $5,750,010
Bonds, 5% 1st inort .. 1,500,000 fo r screws in England have been reduced to a very low poiut to meet
Construction, real es
6 % exten. & im p’ v’ t.
1,250,000 our Leeds com petition, and are now but li tie more than one-half of
ta te ,e tc ...................
9,952,012
5% North Balt. Div.. 1,750,000 what they recently were.
Materials ou h a n d ___
23,784
.
„ ,
.
Capital Requirements—Co iSQhdatton—I f business continues long
Stocks and hoods o f
5% oollat. tr. 1st M ..
750,000
5% convertible gold.
800,000 depressed and the extensions mentioned be desirable at Leeds and at
other roads owned
the I'lew England mill (for rolling mill to produce wire rods) we may
h y Co.—actual co st. . 1,473,657 Open aocts., Includ all
require additional capital. For ten years past our earnings enabled
Cara—aotual cost . . . .
736,989
taxes accr’d but. not
us to apply to extensions the required amount, and to pay you in divi
yet
due,
pay’
ble
Jan.
Bilia receivable..........
5,500
dends a similar amount without materially increasing our floating in
9, 1897, $30,886.
80,457
Capital atock (in treaadebtedness. This matter may be made the occasion for a consolida
Iut.
on
bonds
accrued
nry) hi s h a r e ............
13
but not yet d u e.........
51,458 tion of the American, Canadian and British companies, with a new
Open a cco u n ts. . . . . . . .
23,136
organization and form of capital, as we have outgrown many of our
Dividend No. 3 pay’ ble
Jan. 15, 1897.
86,250
early m ethods of working.
.
. _ .
Prospects—No need for Tariff—The United States foreign trade has
S u r p lu s .............
370,069
a most prom ising opportunity, which can he partly realized from ob
servation of its large and growing exports during the past year of
T o t a l............... $12,388,231
T o t a l........................ $12,388,234
pig iron, rails, rods, nails, machinery, and other n on and steel p ro
— V. 64, p. 326.
ducts. A large export business w ill he of m uch service to us, for what
Akron S t r e e t R a i l w a y & I l l u m i n a t i n g C o ., A k r o n , O h io . we want now is not so much higher prices fo r our products as an in
creased demand. We have greatly reduced the costs o f manufacture,
( S ta tem en t f o r y ea r end ing D ec. 31, 1896J
and the selling price for a leading size of wood screw has declined
from 53% cents in 1873 to the present price o f 8*2 cents a gross. We
T h e following statement has been furnished :
have gotten beyond the necessity for a high tariff; pools have proven
1896.
1895.
Increase. to be of no permanent advantage to us; we have to adapt ours lives to
Gross earnings......................... $ >10,246
$139,256
$20,990
new methods of manufacture and new conditions requiring adjust
Operating expen ses............... 124,129
108,718
, 15 ,411 ment which only time can accomplish. By this time next year we may
hope to inform you of a m ore prosperous business and at m oderately
Net earnings...................... $36,117
$80,538
$5,579 remunerative rates. Meanwhile prices may drop somewhat lower be
“ The company during the year built a new power cause we are not now meeting the low est pri :es of competitors who
from necessity or otherwise are selling at rates much below cost, s o
house 104x98 feet, laid additional track and made other long
as we can hold our present business we need not change.
general betterments amounting to $54,000. Because of in
T reasurer's R e p o rt —The net profits for the year ending
cluding extraordinary betterments, the item of operating Dec.
31, 1898, amounted to §124,032. and its financial condi
expenses in 1890 is unusually large (59 per cent of gross);
through economies possible the coming year it will be much tion on that date to have been as follows :
THE
W i
C H R O N IC LE .
A lstU —
$
A ccou nts receivab le.........................................................................
450,568
oods and Roods In h and......................................................
879,271
*w m aterial......................................................................................
118,312
flppllee...................................................................
26,067
Scran sod turnings...........................................
3,090
Cash......................................................................................................
1 4 3 ,4 0
BUI** receivab le..........................
12,180
P lant................................................................. .............................(a) 2,135,000
Drnwintm, patterns and templets (SI 00), good will and
trade mark (81 <’0) ami patents ( I I 00) — ...................... (ft)
3
318,143
Duplicate parts o f m achinery, dies, tools, etc...........................
Capital stock la Canada Screw C o.......................................... (ft) 25 ',000
Capital stock In British Screw Uo........................................... (a) 213,163
T otal a sse ts...
Liabilities—
A ccou nts p .yable
Bills p a r a b le ........
Guarantee fu nd ..
Capital sto ck .......
. . . 4,386,115
69,520
. . . 448,600
(a)
06,344
. . . 3,250,' 00
...
521,751
Surplus................
Total............................................................................. 4,386,115
[VOL. UK1\
Edison E ectric Iitaiuinatiug Company, of Boston,
f R e p o r t f o r the y e a r en d in g Dee. 31, 1896. J
President Jacob 0. Rjgers in the report says :
For a conservative deve oo in -u t o f the business it w is voted b y the
stockholders Deo 1 0 ,1 8 >6 to Increase th e capital stoek bv au issue
o f 5 ,0 0 0 shares o f a par value o f $iOs> om it, at snob times as m ay
appear advisable to the direotors. Darin t toe vear St 10.09 >o f d eb en
ture oerttfloates have been converted Into stock, and there rem ains o f
this issue $ 178,0 •() now outstanding, the convertible p rivilege alt ach
ing to Which w ill expire May 1, 1897.
The earnings, e x p e n s e s , e t c ., have b een as follows :
Tear ending Dec. 31—
1896.
1895.
1894.
Earnings ....... ........ ............................ ...$ 7 7 3 ,4 7 8 $709,002 $628,103
E xpenses................................................... 448,198
158,301
311,212
N et.............................................................$ 2 '5 ,1 3 0
Incandescent lamps connected . . . . 134.331
Aro lam ps conn ected ............
1,422
M otors connected (h. p .) ........................
5.354
Coal. —The coal tonnage hrndled b y your railroad during the year
amonuted to 2,416,542 tons, an Increase o f 239,243 tons over that of
the p receding year, bslua, with the ex cep tion o f the year t s s s . when
it am ounted to 2,424,848 tons, the largest in its history. The total
output o f your mines lu ls 9 6 was l,1 5 ?,2 0 0 tons, an increase over
the ou tp u t o f the p reoed ingyear o f 233,545 tons, and an increase
over the out, u f o f 1883, wh ell up to the year 1836 was the largest in
the h istory of the com pany, o f 133,951 tons
Jfete Equipment. Etc.—Y our com p tuy has no floating debt ; m ore
over It is free froiu elth er construction or suspended accounts. Dur
ing the year the com pany purchased fo r cash two hundred m odern
coal ears under a oar trust, agreement w ith the Baltimore & Ohio RR.
The freight and passenger . quipm ent have all been kept up to a Well
standard o f efficiency. The same may be said o f your roadw ay and
buildings.
Bonds Soiit,—There was a large over-subsoriotinn fo r the $600,000
bonds offered for sale In Decem ber last. (See V. 63, y. 1062 ; V. 64. p.
82.) The proceeds of this sale, together with $ d0 1,0 iO in cash taken
on January 1st. 1897, from your R oyalty Fuud, has enabled as to pay
off at m aturity the $ 1, 100,00" o f outstanding bonds. Therefore our
interest charges from and after that date w ill be reduced to the ex
tent o f $39,000 per annum.
E a rn in g s, etc —Results for three years were as follows .
1895.
$
2,730,044
1,844,151
2,175,-182
1,312,813
$4,011,469
362,639
116,900
1894,
( R ep o rt f o r the y ea r en d in g D ec. SI, 1896,J
The business for 1896 has been little m ore than a repetition o f that
o f 1895. Work has been oonttoiied on the same Hues, the in ten
tion being to provide service by which all the demands o f the publlo
shall be met. This praoiioe has received the support o f the oublie,
as show n by the in-cease in oar toll-line business and bp the increase
o f 1,197 in the number o f our stations. We believe w e can tru th fully
say that the plant and service o f tbe oom pany are in better condition
than over before.
Earnings, etc., have been as follows :
Subscribers D ec, 3 1 ................ .......
T oll stations Dec. 3 1 ..............
Gross e a r n in g s ............ .
O p«ratii)B ,eto„ expen ses...... .........
Rental and roy alty .................
Interest— ......... ..............
1896.
7,519
300,<>87
1S95.
6,384
304
$503,716
303,345 i
44,726 V
43,743>
1894,
5,144
257
$474,472
377,173
Balance ......................... .........
D iv id e n d s ......................... . ..
$111,902
( 5 1 ) 86.250
$97,299
(5) 74,970
Surplus......................................
$25,652
*22,329
BALANCE SHEET DEC. 31, 1896.
R et r e c e ip t s .......................... ....... ..
Interest on d e b t . . . . . . ............ ............
628,579
385,593
116,600
Balance to credit o f protlt and loss. ..
Deduct —
D iyidecd, 2 p. c ...................... .............
A m ount carried to “ R oyalty Fund” ..
Sinking f u n d ..... ................. .
. . . . . . ..
512,579
268,993
245,739
205,000
45,994
205,000
44,292
T ota l.............................$2,983,041
- V 62, p .3 1 8 .
T ota l................................................. 299,945
250,994
B alance...................................................sur.212,634 sur.17,999
249,292
d ef.3,5 53
BlLiKCE SHEET BECKMBBB 31ST, 1896.
Total ..................
President Morris F, Tyler, of New Haven, says :
Assets.
Franchise...................... $157,500
Construction.................. 2,411,963
Supply departm en t.,--.
56,606
Real estate ....................
136,121
97,303
Stooks and bonds..........
A ccounts receivable.. .
91,367
Cash...............................
32,181
69,845
25,000
Liabilities,
Capital a ton ic................ $3,240,800
D ebenture b on d s..........
17-',(TOO
Trust m ortgage bonds
180,000
Aoo mats p -y a b le .......
55,389
130,000
Notes o i vable ............
Int aad div a c c ru e d ...
33,494
R eserve fo r m ainte
nance ..........................
120,000
Prodt and toss................
48,785
Southern New England Telephone Company,
f R ep ort f o r the y e a r en d in g D ecem ber 81,189 6. J
This company owns the Cumberland & Pennsylvania RR.
In the ri port President C. K. Lord says in part. :
1896,
R eceipts from mines, railroads, rents,
$
<Se„ inotudingooal on hand ______ 1,690,901
Expenses (in clu d in g extra ord in a ry)..!,0 6 3 ,3 2 y
$317,164
100,017
853
4,510
BALANCE SHEET t>E0. 31, 1806.
Assets,
(a)
The valuation o f the several plant accounts, and of drawings, Installation.....................$3,245,074
patterns and tem plets, good will and trade m ark, and patents. Is L icense under Edison
nom inal. The property represented bv these accounts was originally
patents.
. .. ............
333,105
entered upon the books at cost. The valuation o f the stock in the Liverpool w harf estate.
225.912
British ami Canada com panies has also been r< dneed to the present C M on b a u d ................
31,281
nom inal \ alnatiou o f 50 per oeut of par. The resolution under wiiioh Stoek on hand ..............
49,803
these reductions were m ade authorized the direotors in their discre Notes reo-ivable .........
37.223
tion to create by appropriations from the surplus n guarantee fu nd to A ccou nts rece iv a b le . . .
68,667
be used lu liquidating values, and the sum o f $2,000,000 was so appro Open accoun ts...............
'ft ,419
prlated. The balance to the guarantee fund aooount. represents the
present unused portion o f this appropriation
T o t a l ............................ $4,011,463
—V. 63, X). 1116.
Consolidation Coal Company.
$252,701
103,476
901
4,857
GENERAL
Liabilities.
Capital sto ck ..................$2,000,000
S urplus....... ....................
109,509
Bonded d e b t ...............
500,000
Debentures and float
ing debt .....................
336,613
Sundry reserves__________________ 36,889
T ota l.............................$2,983,041
IN V E S T M E N T
NEWS.
Reorganizations, Etc. - L a t e s t D a ta as to D efa u lts, R e o r
g a n iza tion P lans, P a ym en t o f O verdue C o u p o n s, E tc .— AU
Liabilities—
Capital s to ck ................$10,250,000 facts of this nauire appearing sin ce the publication of the last
First M. bonds Cons,
issues of the I n v e s t o r s 5 and S t r e e t R a i l w a y S u p p l e m e n t s
Coal C o......................
1,100.000 may be readily found oy means of tne following index, This
First M. bonds Cum. &
Penn RR. Co ........... 1,000,000 index does n o t include matter in to-day’s C h r o n i c l e .
Sinking fund Cumb. &
R a il r o a d s a n d M is o e l . C o . s.
R a il r o a d a n d M is c e l . C o ’ s . ( Con .)
Penn. R R ..............
50,000
Volume 64—
Page
Volume 64—
Page.
Due to "R o y a lty Fund.”
839,082 Altoona Clear6eld & N o.... a.. . sold, 108 Ogdensb A L. C.as to int.374; forecL 567
Atchison Jewell Co. & W. \ rnm
Ohio South,n.-irposits.331; recv.ctfs. 374
Int on C. & P. KR.Co.'s
bonds to .Tan. 1, ’ 9 7 .
8,333 Atchison Col. & Pac.........\**‘ com* 510 Ohio Valley........... .— <nmmittce. 288
Atlanta & West Point,— no reevr. 518 Oregon RR. &Nav..sale of contr l. SteS
Traffic balance due
A Pact lie,.. .....com , 328.510 Oreg. Short Line & U. N. .cemp.181,
railroad com panies.
73,284 Atlantic
0. & O.—Pitts, & Con riel Isv,,,coup. 2313
288; new co. 381; sale confirmed. 874
Due individuals aod
Butte & Boston Mining Co, .. sold 280 Peoria Dee. & B v .. .foreoLHltb,. 470, 518
Do
do
....coup. 288
com pa’s fo r supplies
23,631 Cane Pear k Yadkin val.... .fomcl. 18 i
Central OMo.com.180,422, 516, 528, 500 Peoria Water Co......... .... — ..coup. 470
Pay rolls Deo., 1896,
payable Jam , 1897..
45,296 Cent. Vermonfc./ordct »?.; penalty. 5to Phil. Head. & New Lug., rearft.181, 235
Horae & Col— .plan. 510 Quincy um & Ki O. .sate.lSl; rmrg. 470
D lvld'ds uncalled fo r .
756 Chattanooga
Chester & Lenoir . . .. .....reorg. 18<» St, Clair Madison & St.L.Belt.teCtir. 381
Div. payable Feb. 1,’ 97
205,OuO Colorado Coal & l. Develop, .form. 587 t St. Joseph & Gd.tal,dec. val. old bds. 570
Profit and loss, eu rp ..
338,112 Columbus A Cin. Mid......com. 180, 5530 i St. Louis Salem & Ark .........said. 567
Col. Hock. V. & Toledo.........reevr. 422 Sliarpsville Hit.,------------ - reevr. 235
Do
Do
default. 510 |Short Route Ry. Transfer.. .foreel. 331
T ota l...........................$13,983,496 I T o ta l...........................$13,983,496
Col. Sun. & H ,...rCcprs. dischurued. 203 j South Carolina Midland.......reevr, 287
—V. 64, p. 82.
Do
commitU'. 423 ! Tennessee Central .. fared. 288, 424
Cuyler & Woodburn....... .
sold. 4Gw Terre Haute & Logans port... coup. 574
Detroit Lansing & No.. .... .. reara. 109 Toledo St. L.& K.C- . ............ suit, 331
Chicago Telephone Company.
DUlUth Gas & W -.reevr. discharged. 423 Onion Pacitie..... ./or-cl.235 ? coup. 172
Do
. . K. P. comols.2^, 331,421
East Tennessee Land Co
..safe. 423
( R e p o rt f o r the y e a r en d in g J a n e 30, 1896J
Eaison Elec, Ilium, o f St. lj..rmrc. old
Do
do
do
-pian. 424
Do
sin king fund Septan, m l
& Richmond.
..sale, 12*5 s
During the year the capital stock outstanding was increased Evansville
PL Wonh k Rio Grande... dc/miAL 287
Do
call. it. gold da-. 507
from $3,798,200 to $4,888,300. The following directors have G&lnsvUUi Jefferson & B o,„„w cw . 610 Whetting & Lake 13... .reevrs.; com. 182
nw. Anderson & V f.......w eto 287
Do
do ext. A i “p. bands. 230
been elected: J. Russell Jones, Hanry B. Scone, Norman Grto
Do
do ... stocks**m 288, 374
Hendersonville & Brevard By. T.
Williams, It »b?rt T. Lincoln, John Dr Koveu, Gaorge M.
&T
■, ■ . . . . . . reevr. 123 Wilniington Nowbh. & Norf.rcmir. 568
Jaeksonv.
Tampa
&
K.
W
.......
sale,
i
p
Pullman, Arthur G, Puller, 0. E. Perkins, W . A, Jackson.
s t r e e t R a il w a y s .
L. Shore & Mien. So.....rtfu*>dim. HO
Vo fume 64—
Page.
The earnings, etc. have been:
Lehigh Valiev . .....rcadjurment. 517
Austin
(Texas)
R. T . ...........reevr. 122
Little
Rock
A
Mem.rearfl.
234;
sale.
<
5
0
7
1890.
1895.
1894.
Long Island . . . ............... ..ennirof. 234 j Brigantine Transit.........sold. 873
$
$
Louisv. N. A. & Ch.coup. 234. sold. 5'<7 Brooklyn Elevated.. readjustment, bid
,829
1,759,753
1,036,964
Do
do
fust, imtal. due. 507 Burlington (Ia. i Electric, — .sale. 463
E x p e n s e s ....“ ............................ 1,855,824
1,210,914
1,128,388 Memphis & Charleston .. . — sale. 375 Capital Fly. (Frankfort. Ky.)...sale. 422
Mexican National .int. on A bonds 517 j Citizensr i’rac,(San Diego,Cal.) recur,422
I'enn. & Ala . — ....sale. 517 ; Dallas City Street.................. reevr. 567
Ketearniugs....................
000,205
542,839
508,576 Middle
Mobile & Birm . . . >nt. on incomes. 518 I Englewood & O de. WA...recvs. ctfs. 428
Dividends paid ........................
499,224
455,545
465,544 Natchez & Red. River & Texas
; Courth St. & Arsenal} at r,
kt«
I?to ...... ......................
424 | Poonlo’s Itiilwav.,.. j8t.D...recw ms
Stt'pltl* ..
. . ...
.........
100,981
87.704
53.* 34 'toil'tolk A W.iBurr) .new * e m n : t ■71 South Jersey Traction..... ... .-.Wrf. 5fl7
Assets—
Mines and real estate,
including w h a r v e s ...$8,634,256
Comb. * Penn. K R . „ . . 3,505,938
R oyalty Fund invest__
8 3 9 ,0 8 1
116,000
Tw o iron steam ers.......
Tw o coal b a r g e s ..........
56,163
Twenty-one canal boats
9,000
Coal ears sold t o B 4 0 .
RR. Co , balance due.
89,483
Trustees Cumb.dt Penn.
R R . sinking fu n d ____
50,000
m aterials........................
222,399
Due for coal gold...........
230,498
Traffic bal, due Cum. &
Perm. R R .......... .........
91,952
Steamer ft c lg h ts d u c ...
6,617
In sur. prem. unearned
5,764
Bills receivable..............
56,944
Cash In co.'g treasury..
70,398
?
M ak CH 27, I.-V7 j
THE (JHROM l OLE.
American Bell Telephone.—Neiv S tock .— The stockholders
vote March 30 on the question of a further issue of
stock at an upset price to be Darned by Commissioners of Cor
porations, as heretofore. The present outstanding capital is
$23,650,000; amount authorized, $50,000,000. The company’s
officials say the amount of the new issue has not been decided
upoD, but in Boston it is believed that it will be about
$1,350,000, which will net the company nearly $3,000,000.—Y.
63, p. 563.
American Sugar Refining.—D ecision A g a in st the A r buckles. —At Toledo, Ohio, March 22, Judge Morris handed
down his decision on the petition of Arbuckle Brothers and
Thomas J. Kuhn, of Cleveland, for a receiver for the W oolson Spice Co. The temporary order restraining the Woolson
company from making further reductions ia the price of
coffee is dissolved, the application for a receiver denied and
the defendant’s demurrer sustained. The grounds for the
decision are stated in the daily press substantially as follow.-:
Judge Morris holds th atso lo n g a s the directors o f a corporation act
in good faith the court cannot restrain it from selling at a low prioe,
even thouah the m inority stockholders m ay show that business dis
cretion would dictate a different policy. He also holds that the agree
m ent o f the majority stockholders to sell the produot for a time at
such a price as w ill drlye a com petitor out o f business w ill not make
the corporation an unlawful conspiracy against such com petitor, nor
liable fo r his actual loss, nor entitle him to relief in the courts. A
com petitor fo r p ublic favor must bow to that law o f trade that allows
evert m ao to dispose o f his own property, in the ordinary course of
business, on suoh terms as he sees tit.—V. ti4, p. 328.
F ra u d u len t R e p o r t. —The “ New York News Bureau” calls
attention to the fact that the report which was published
this week purporting to show the assets and liabilities of
the company on Dec. 31, 1896, was a fraudulent production,
the figures given being those for the year 1893, as will be
found by comparing the statement with that in our I n
vestors’ S upplement.—V. 64, p. 328.
Atchison Topeka & Santa Fe By.—Atlantic & Pacific
R R .—Southern Pacific R R — Official S tatem ent as to A cq u i
sition o f M ojave D iv isio n . —An arrangement has been arrived
at between the Atchison and the Southern Pacific for an ex
change of the Atchison line—Benson, Arizona, to Guaymae,
Mexico (New Mexico & Arizona RR. and Sonora R v .)—for
the Southern Pacific line, Needles to Mojave (Mojave Division
of the Atlantic & Pacific RR.). The necessary contracts and
conveyances are now being formulated by counsel, the mat
ter having as yet not proceeded beyond a preliminary under
standing upon the main features of the trade, which is in
substance an “ even swap,” the Atchison to retain its present
contract rights in connection with the Southern Pacific line
from Mojave to San Francisco.
From the Atchison point of view the arrangement is ex
cellent.
The Atlantic & Pacific has been paying at the
rate of $436,266 annual rental for the Mojave Division,
under a contract to purchase the road at $30,000 per mile, pay
able in 1905, when the Southern Pacific mortgage matures and
a clear title can be made to the 242 miles in question. The
new arrangement will probably be carried into effect through
an exchange of leases until suca time as good title can oe
made, so that the above annual rental charge against the
Atlantic & Pacific will disappear. The Atchison lines to
be leased to the Southern Pacific in exchange therefor
comprise 350 miles, of which 262 miles are in Mexico.
They are entirely disconnected from tne remainder of the
Atchison system, the distance from Deming to Benson being
175 miles, for which the Atchison has been obliged to use the
line of the Southern Pacific in order to reach its own property.
Their net earnings for the six months ending June 30, 1896, as
shown by the last Atchison annual report, aggregated $73,254 20, American currency, or say $150,000 per year. It is
evident that the position of the Atchison will be financially
improved, and that it will be benefited from an operating
standpoint by surrendering a piece of road which has been
operated under many embarrassments, and which has been of
comparatively trifling value to the system, for an assured
title to the only missing link in its traDs-Continental line.
'l he Southern Pacific, on the other hand, obtains a line
with which it connects directly, being the only railroad now
constructed in the great State of Sonora. It believes, and has
good reason to believe, that the development of that region
has already commenced, and will hereafter be rapid. It ob
tains control of the beautiful harbor of Guaymas, enabling it
to reach by easy steamer connection t- • entire west coast of
Mexico and tbe Central American States. For this it surren
ders a rental claim which was likely to occasion much fric
tion, as it is well known that the Atchison reorganization
plan provided for the construction of a new road from the
Needles to Bar-tow in case a satisfactory reduction in the
present rent was not obtainable.
The subject of the exchange has evidently been considered
on broad lines by both companies, and all concerned are to be
congratulated upon the adoption of methods tending to the
avoiding of coniroversy through an agreement Bure to be
mutually beneficial.—V. 63, p. 835; V. 64, p. 566.
Allantic & North Carolina RR.— G ov. R ussell A p p oin ts
New D in c t o r s .— Gov. Russeli has appointed an entirely new
Board of Directors as follows: Robert Hancock, W m. Chadbourn, Jr., and E. H. Meadows, of CraveD; W. J. Pope, John
F. Mewborne and Council G. Wooten, of Lenoir; Wm. II.
Sawyer, of Pamlico and T. D. Hewitt, of Carteret. The
term of office of the old directors was for one year and would
not, by limitation, expire until next September, but the Gov
ernor c b : m be r'>ht to remove them under an act passed at
GOB
the last session of tbe Legislature, entitled an “ Act to re
store to the State of North Carolina the control and manage
ment of the Atlantic & North Carolina RR.” The State owns
a little ov-r two-thirds ($1,266,500) of the company’s capital
stock ($1,797,100), and the present action is taken in view of
the attempt of the old board to make a lease of the road.—
V. 61, p. 470.
Atlantic Short Line RR,— Bruton & Pineora RR.—R e o r
ga n ized C om p a n y. —The Atlantic Short Line RR. Co. has been
reorganized as the Bruton & Pineora RR., with A. F. Daly, of
Wrightsville, as President. The new company is authorized
to build from its connection with the Wrightsville & Tennille
at Bruton to a connection with the Central of Georgia system
at Pineora, Ga., making about 100 miles of road in all. About
29 miles are completed from Bruton south.—V. 64, p. 133.
Baltimore & Ohio So at hwestern R y .- F r i e n d l y Sicit P r e
p a r a to r y to E x ten d in g B o n d s.—The consolidated mortgage of
1889 requires the payment of all the underlying bonds as they
mature. Consequently preparatory to extending, as proposed,
at4per cent, the $3,463,<100 Ohio & Mississippi 7 per cents due
January 1,1898, a friendly suit has been begun by tbe Farmers’
Loan & Trust Co , trustee of the consflidated mortgage, to
establish the right of the company to make the extension.
The holders of a large majority of the consols, it is stated,
have given their assent to the action, which is taken in the
interest of all the security holders, the company not being in
a position to retire the maturing bonds with consols as origi
nally contemplated.
A representative of the company is quoted as saying:
We have already arranged f ir a yndioate to underwrite tile new
issue, which is to he on a 4 per cent interest basis, and tile applica
tions for participation in the syndicate were much In exoess of the
amount available. Natura'ly, however, it was felt that the term - of
the consolidated mortgage made some tm ubio from til it quarter a
contingency to he considered. We have therefore forestalled this
by the friendly suit ju st begun, which has been brought with the as
sent of a very large m ajority o f ihe oonsol. bondholders. The settle
m ent o f this friendly suit will leave us ia shape to go ahead wich the
syndicate mo.vement.
The most recent mortgages of the lirga reorganized com
panies, it may be mentioned, like that of the Reading pub
lished in the C h r o n i c l e this w e e k , especially reserve to the
company the right, if deemed best, to extend the underlying
bonds at maturity, this right, it is recognized, being under
some conditions, as in the present case, of much importance.
—V. 64, p. 180.
Bay State Gas.—A u ctio n Sale. —An injunction was served
on the auctioneers yesterday to prevent the sale of 5,000
shares of stock hypothecated and $103,000 income bonds,
but notwithstanding, the sale took pi ce. John H. Griesel
purchased the stock for 5 per cent and the bonds for 15 per
cent. The injunction was served bv Lawson, Weidenfeld &
Co.—Y. 64, p. 81.
Brooklyn Elevated RR.—R eceiver A p p o in te d .—Judge Van
W yck in the Supreme Court, in Brooklyn, on Thursday ap
pointed President Frederick Uhlmann as receiver of this com
pany, in friendly proceedings, preparatory to reorganization
under tbe plan below mentioned:
R eo rg a n iza tion P la n .—A committee consisting of F. P 01cott, Chairman, James T. Woodward, Charles Parsons, Ernst
Thalmann and Leonard Lewisohn, with Adrian H. Joline as
Counsel, and J. N. Wallace, 54 Wall Street, N. Y., as Secre
tary, has prepared a plan of reorganization by which all the
mortgages of the Brooklyn, Union and Seaside & Brooklyn
Bridge companies are to be foreclosed, and their properties
transferred to a new company, which will issue thereon the
■following new securities:
First Mortgage Bonds, due in 1950, bearing interest at 4 per cent
until the year 1905 and 5 per cent thereafter; principal and interest
payable in Uuited states gold coin o f present standard; interest pay
able in New Y ork City sem i-annually; mortgage to cover all the p rop
erly and franchises of the new company, including after-acquired
property. No bonds to be Issued beyond th >se required for tbe pur
poses o f the reoria n izition , and to meet tb -ex p eu se of m iking con
nections with the New York & Brooklyn Bridge, of acquiring necessary
property and rights o f way aud change o f m otive newer and oars, ex
cept upon oonsent of the trustee of the mortgage.
To ta l authorized is su e ................................................................. $16,000,000
Of which to retire old bonds at rate mentioned below—
1 1 ,8 9 0 ,0 0 0
Autlioiized t ■be sold to syndicate as below stated for
Brooklyn Bridge connection, change of motive power,
eto.............................................. ................................................
i, 0 0 0 ,0 0 0
Remainder for building the lines which the Seaside Com
pany is authorized to construct, etc..................................
3 ,0 1 0 , 0 0 a
P re fe r r e d Stock, 5 per cent noncumnlative, but entitled
to share pro rata w ith common stook in all dividends
over and above 5 per eeuton both stocks and with voting
powers as below stated (see e»inmon stook)..................... $5,000,000
To go to holders of old securities..........................................
3 .3 3 0 , 1 6 0
Applicable to reorganization purposes and future reqments...................
1 , 6 6 9 ,8 4 0
Common S'ock entitle! to dividends as above stated;
alto to ele t a majority of one in the board of directors,
the remainder of the board to be elected by the pre
ferred stock.................................................................................... 13,000,000
The old bon Is and stock (paying estessmen ) if depo iced
will receive:
in
O ld S e c u r it ie s
I f P a t in o ,------------- W inn R e c e iv e ------------- >
A m ou nts a s KOI.l o w s : A ssessm ’ t . Cash. New 1st 31. P.St’k. O. St’k.
Brooklyn E l. 1st M., $1,000
Union E l. 1st M., $1,000...
Seaside & B B. 1st M ., $1,000
Brooklyn E l. 2d M ., $1,000.
Union E l. 2d inc., $1,000..
Brooklyn E l. stook, $ 1 0 0...
none.
none.
$100
200
100
10
$2oir
20H
20If
i4ir
$ i ,000
1,000
1,000
700
$100
500
COO
10
$200
200
....
$500
75
If Th is amount for eaoh ooupon maturing atter April 1,1897, pend
ing reorganization.
j
The cash c o n trib u tio n s le vie d aggregate $1,921,500 a n d are to
ho p avuh le ss cnlled b y fh? c o m m itte e . T h e y w ill be i n '- '' -l
610
THE CHRONICLE,
to payment of coupons, as required ny plan, to payment of
$665,000 secured floating deb:, .to improvements, reorgan
ization expens- s, etc.
Sale* o f B on d s to S y n d ica te .—If within one year from the
completion of the reorganization a eontr »ct shall have been
obtained yermi'tmg ih » trains of toe company to cross the
New- York & Bto fclyn Bridge, or the now company -halt
have determined to change the m Hive po wer of the railroad,
and to m ate other changes art! betterm tot? oonnectei there
with, the syndicate which underwrites the plan shall purchase
not exceeding $1,000,060 of the new first mortgage lioodi and
p a y therefor $860 in cash for each $ 1,0 0 0 bond, receiving as
commissions $ > 0 0 ia new preferred stock with each b ind.
jFixed C h a rges .—Assuming that no new construction will
be required, the committee estimates the obligations and
charges of the new company as follows:
First inortt-'iige bonds, $11,890,000® 1 per cent..........................$475,600
fVOL, LXIV,
Consolidated Traction Co. o f New Jersey.—Statement f o r
3896 .—The directors met Thursday in Jersey City aud elected
officers, Edward P. C, Young was re-elected President.
According to the daily papers President Young submitted a
report showing that for the year 1896 the receipts of the con
solidated tinea increased nearly 1 0 per cent, while the per
centage of operating expenses to receipts has been decreased
nearly 6 per cent. There were 407 cars in- operation during
the year, and the number of miles run was 13,875,008. The
increase id the number of passengers carried at the Pennsyl
vania ferry over 1893 was 17,4.60,455. Seven miles of track
were added to the system, and the line connecting Newark
with Jersey City over the turnpike road was completed. No
definite statement of the receipts or the operating expenses
of the system was made.—V, 59, p. 969.
Evansville A Richmond R R .—Evansville k Terre Haute
RH .— Sold in F oreclosu re — Im p o rta n t F oreclosu re R ig h t .—
The Evansville & Richmond was sold in foreclosure March
38 for $1.413,712. The large size of the bid excited surprise
T otal annual fixed ch arges........................................................ $383,600
amoBg those acquainted with tbe property, f :>r, as ia well
P resenttixed charges..................................................... . . . . . . . . . $ 9 8 2 , 0 3 3
known, ibe Evansville & Terre Haute acquired nearly all of
S e t earnings tor year 1 3 0 6 ..............................................................$638,699 the 81,400,000 bonds in exchange for ii» preferred stock, and
D ep osits. —Holders wishing to take part m the reorganiza it seemed unreasonable to supposs that the bonds not so ac
tion ‘ must deposit tbeir seem ides with the Central Trust Co. quired should receive par, or nearly par, in cash as the re
—see notice in our advertising columns The committee may sult of foreclosure sale,
declare the plat effective whenever they thiik a suffibunt
On inquiry we learn that the purchase was made under a
amount of bonds has been deposited. The plan has neen un
clause in the mortgage which permits a maj irity interest in
derwmten by a bankers’ syndicate,—V . 64, p. 516.
the bonds to buy iu the property o n b eh a lf o f the holders o f all
Belle City Street R f., Racin ', W te.—R e o r g a n iz ttio n .— the bonds, and to form a new company in whose securities
The bondholders, it is stated, have agreed to scale their binds the holders of each one of the old bonds shall receive his pro
and accept preferred stock for iho difference, with a slight re portionate share to represent his interest in the proceeds of
duction of the interest charge, thus avoiding the mmssity for foreclosure sale, In other words, of the $1.413,712 bid, only
$18,712 was cash (this being sufficient to meet the costs of
foreclosure, the management to remain as heretofore.
foreclosure) and for the balance the property is received in
Brooklyn Rapid Transit,— $308,000 B o n d s. —Additional full payment and satisfaction of all the bonds. There is
5 p4r cent bonds of 1895 for $306,000 have been i-sn d in part therefore no decree value to be paid in cash, but each of the
payment for $ 1 ,0 2 1 ,0 0 0 first cons did rted ^mortgage bonds of 1,400 old $1,000 bonds is to receiva a one-fourteenth hundredth
the Brookyn Q mens County & Suburb an RS Co : and for interest in such securities as the new company, whan formed,
construction on the Bro iklyn City RR., the cost of which shall issue.—V. 64, p. 438, 388,
construction is rt-payable by the Brooklyn City RR. Co. at the
Galveston La Porte & Houston Ry.—Southern Pacific
termination of the lease. This makts the total amount listed
to date on the N.Y. Stock Exchange $5,181,000.—V. 04,p 878, 11 d.— P r o p o sitio n to P u rch a se. —Mr. O. P. Huntington last
Called Bonds,—The following bonds have been called for week took a trip over the Galveston La P irte & Houston
payment. The numbers may be learned at the respective Ry., and, according to the “ Galveston News,” which quotes
Receiver House to thii effect, offered to give for the road
offices:
81,000,000 bonds endorsed by the Southern Pacific and secured
C o r n w a l l ,t L k b a n o n .— Thirteen car trust carts, w ill be paid April
by mortgage on the G. La P. & H The present indebted
30, interest oeasuu; that day.
C o s s r s a C o w a n k s q c b ,t A n t r im . One hundred and seventy five ness of the La Porte Company is stated to be $1,187,000.
bonds b a vs been drawn for payment, interest ceasing M ay 1.
F oreclosu re S u it. —J udge B-yant in TIoit d States Circuit
L o c i - v i l l i : a N a s h v il l e .— T wo hundred and thirty-eight general
m ortgage bonds have been called fo r payment; the numbers and other Court has granted leave to L J. Smith to intervene in the
detail* are given in our advertising columns. Also titty-live Cecilia suit of this company and his set the final hearing of the casa
Brunch bonds w ill be paid off September 1.
for Nov. 8 , 1897. - V . 63, p. 116.
Taxes on structure per annum.......................................................
State taxes (estimated)...................................................................
84,000
24,000
N o r t h e r n P a c i f i c .—Twenty-one Missouri D ivision b o n d s have been
called, interest ceasing May 1.
Central o f Georgia R a ilw a y Company.—B on d s L isted . —
On the New York Stock Exchange have been listed $1,000,000
firs mortgage Macon & Northern 5 per cent gold bonds of
1946: $840,000 first mortgage Mobile division 5 per cent gold
bonds of 1946; $4,000,000 first preferred 5 per cent gold in
come bonds of 1945; $7,000,000 second preference 5 p -r cent
gold income bonds of 1045, and $4,000,000 third preference
6 per cent gold income toads of 1943.—Y, 64, p. 517.
Cincinnati Street Ry,—$360,000 N ew S tock . —A circular
sent out by the company announces a new issue of stock:
Great Northern R y.—St. Paul Minneapolis & Mauitoba
Ry. —$9.25,000 B on d s L isted . —Tnere have been listed on the
New York Stock Exchange addition d St. P, Mian, & Man.
consol, 4}£t to the amount of $925,000, ism :d on 61 miles of
first track and ljj£ miles of second track, which the company
has completed since April, 1894. This makes the total amount
o f consol. 4M« on list $31,248,000.—'V , 64, p. 518.
Hannibal Street Ry.—R ep o rted S old .— A special dispatch
to the Sr. Louis “ Globe Democrat” says thatD Thompson, of
Ithaca, N. Y ., representing a syndicate of Eastern capital
ists, has purchased this property’and proposes to rebuild the
E ach Stockholder o f record o f March 1 7 ,1 8 9 7 , shall be entitled to line, erect new buildings, increase the power and extend the
u reh a eea tp a r ($30 per share) -1 per ceut o f the par value o f their
Hidings. Payments must be made for the said stock b 'tw een March line to the cemeteries, to O ikwood, and in other directions. A
25 and April 5. 1897, fo r w hich payments scrip will be Issued that separate company will be organized to build the extensions,
m ay be exchanged at any tim e after April 20 iu even multioteg o f $30
with a capital of $150,000.
fo r stock certificates.—V. 63. p. 183.
Columbia k Maryland ( E lectric) Ry.— R eo rg a n iza tion
C om m ittee. —Tha following offioi il statement has been issued
touching tbe meeting held at Baltimore on March 15 by
leading creditors of the Baltimore & Can to asv die Con
struction Co.: “ It has been decided, as alt the present
stockholders and bondholders have d -posited their holdings
subject to the reorganization, that steps be immediately taken
toieorganizu the Columbia & Maryland Ry., and with this
object in view a syndicate has been formed that is settling all
the claim* of the Balrimore Catonsville Construction Co. on
the basis of 75 per cent cash and 35 per cent in stock of the
Columbia & Maryland Ry. The reorganization committee
consist* of Messrs. T, E Iward Hambleton, Bernard N. Baker
and Thomas M, Lanaban.”—V . 6 8 , p. 659.
Columbus Hocking Coal & Iron.— M o tio n to C h an ge R e
ceiv er,— 'The Central Trust Co , trustee under the mortgage,
is seeking the removal of the receiver appointed by the State
Court and the appointment of a receiver by the U. S. courts,
where foreclosure suit has been instituted,—Y. 61, p. 184.
Columbus Hocking Talley & Toledo R y.—F oreclosu re
P ro ceed in g s. —The Central Trust Co., as mortgage trustee, has
brought suit to foreclose the consolidated mortgage of 1881,
interest on which went to default March 1.—V. 64, p. 566.
Consolidated Street Ry. o f Grand Rapids — D ep osits S u b
ject to P en a lty ,—Notice is given by advertisement m another
column that three-fourths of all the outstanding first mort
gage bond* of the Street Railway Company of Grand Rapids
have been deposited under the bondholders’ protective agree
ment of Dec. 38, 1896 (see V. 64, p. 217), and that further de
posits will be subj ?ct to a penalty of 1 per cent.—V, 64, p. 387.
Helena (Mont.) Consolidated Water. —R eceiv er A p p o in te d .
—-At Helena, Mont., March 16, Judge Knowles, of the United
States Court, appointed James H. Mills receiver for this com
puny upon petition of the B jston Safe Deposit Trust Co., the
mortgage trustee.—V. 63, p, 880,
Kentucky Banks.—A d v erse D ecision ,.—At Frankfort, K y .,
March 34, the Court of Appeals decided the bank tax case
against the banks, which hereafter will be compelled to pay
taxes as individual property instead of $0 75 State taxes as
heretofore. The former decision of the Court, rendered by
Judge Pryor, is overruled completely. Judges Hizalrigg a nd
Buroam dissented. The decision accounts for the decline in
the price of Kentucky bank stocks
Lake Shore & Michigan Southern Ry.—R e fu n d in g P la n .
—The plan for the refunding of the 7 per cent bonds matur
ing between April 1, 1898, and Dec. 1, 1903, is published in
full in the advertising columns of to-day’s C h r o n i c l e . By
its terms Speyer & Co., until further notice, will receive de
posits of these bonds and in return issue certificates exchange
able for the new 3>j per cent 1 0 0 -year gold bonds as soon as
ready, on the terms below mentioned. The exchange will be
made as of June 1, 1897, from which date the new bonds will
begin to draw interest, and will be on a basis to afford the
holders of the 7 per cent bonds about the same net return on
their money as now (they will receive abort 8 7 16 per cant,
against
to 8% per cent on the present market value of the
7s), while refunding nearly the entire amount of their pres
ent principal and premium for a period of 1 0 0 years.
The following table shows the bonds to be refunded, the
value of each reckoned on a 8 % per cent basis, and the
amount of 8 J| per cent bonds at the price of 103% (the price
March 27, 1897.]
THE CHRONICLE.
61L
of exchange, to which each $ L,000 par value of the existing |Stephen D. Thompson explained their plan for the cohsolidabonds, at the aforesaid value, is entitled:
|tion of the two companies, and an issue of $2,000,000 to
Will receive replace existing indebtedness. Those opposed to the plan
Each worth inneio'S1^s have formed a second reorganization committee, consisting
Loan.
Due.
Amount, on 3^2% basis, at 102^.
Buffalo & Erie 1st M. 7 8 ... 1898 $2,705,000 $1,040 06 $1,014 70 of August Gehner, Albert Amstein and H. H. Wernsa —
-------------1>073 19
-----------Lake Shore R’y Divisional 7s 1899
1,355,000
1,047 02 V. 64, p. 518.
Consol, m ort. coupon 7s......1900 } 14.440.000
do
registered7s,..1900 <
24.682.000
2d m ortgage 7 s ......................1903
<1,130 56
i 1,113 05
1,201 91
1,102 93
1,085 91
1,172 59
Quincy Mining Co.—L ast In stalm en t D u e A p ril 16.— The
fourth and last instalment of 25 per cent on rights to shares
The coupon bonds deposited must carry all coupons ma of the increased capiral stock of the company becomes due
turing after June 1, 1897. The firm will receive registered and payable April 16 next, on and after which date the rights
bonds only when duly endorsed in blank, but all interest upon which all instalments have been paid are convertible
thereon payable on or before June 1, 1897, will be collected into full paid shares.—V . 64. p. 468.
and be received by the registered owner directly from the
Rapid Transit in New York City.—Law) C on stitu tion a l.—
railway company. The Continental Trust Co. of this city will
be the custodian of the bonds under an agreement made with At Albany, March 23, the Court of Appeals affirmed the
decision of the lower court upholding the constitutionality
the firm for the protection of all parties in interest.
of the Rapid transit Act, in the case of the Sun Printing
New M ortg a ge. — The new bonds to be delivered in exchange
as above will be part of an issue for the aggregate sura of & Publishing Association and others, appellants, against the
ard other authorities of New York City, Board of
$50,000,000, to be dated June 1, 1897, and payable June 1, Mayor
1997, with interest at the rate of 3 % per cent per annum, pay Rapid Transit Commissioners and others, respondents. The
able semi-annually, both principal and interest being payable Board of AldermeD of New York City on the same day voted
favor of the plans of the Commission for the Elm Street
in United Statfs gold coin of the present standard of weight in
route.—V. 64, p. 135.
and fineness, and secured by a mortgage about to be made
by the railway company, the stockholders’ meeting to author
Reading Company.—New Securities R ead y on A p r il 1 .—
Holders of reorganization certificates are notified that on and
ize the loan being advertised for May 20,
after
Thursday, April 1, 1897, J. P. Morgan & Co., of this
The mortgage will provide that all of the above issues of ex
isting bonds shall be paid at maturity, so that thereafter city, and Drexel & Co., of Philadelphia, will be prepared to
the new 3 % per cent bonds will be secured by a first m o r t begin the issue of new securities in exchange for reorganiza
gage upon railroads, leasehold interests, equipment, fran tion certificates. One hundred schedules per diem will be re
chises and income now owned or hereafter acquired by the ceived. No schedules will be received after 2 P. M.
Lake Shore & Michigan Southern Ry. Co. Until the com
A b stra ct o f New M ortgage. —On subsequent pages of to
plete satisfaction and discharge of each of the existing m o rt day’s C h r o n i c l e is puolished a carefully prepared abstractof
gages above mentioned, the bonds secured by such mortgage ihe new $135,000,000 mortgage of the Reading C om pan y , the
will be held by the trustee of the new mortgage and will be new corporation which holds in fee, or through ownership of
kept alive as additional security for the new bonds to be stock and bonds, all the railroads, coal and other properties
which until the fore 1 sure sale last September were con
issued thereunder.—V. 64, p. 469.
trolled by the Philadelphia & Reading Railroad Co. The Con
Metropolitan West-Side Elevated RR. (of Chicago)—iie- stitution of the State of Pennsylvania, it will be remembered,
o rg a n iza tio n N o tice. —Referting to its adveitisement dated forbids a railroad company to own over 30,000 acres of
Jan. 30, 1897, ihe Olcott committee requests holders of bonds coal lands. Tnerefore in the reorganization the title to the
and stock to deposit their holdings with the Central Trust railroads was vested in the Philadelphia & R ading Railway
Company of New York, 54 Wall Street, or the American L an Co. and the title to the coal properties in the Pniladelphia &
& Trust Company, 53 State Street, Boston, under an agret- Reading Coal & Iron Co.. the control of both these corpora
ment dated Jan. 30, 1897. A supplementary bill to foreclose tions being vested in the R ead in g Com pany. The Coal & Iron
the mortgage was filed in the Federal Court Saturday.—V. Co. joins with the Reading Co. in making the new mort
64, p. 517.
gage, which covers also the stock and bonds of the Railway
Company, so that, in effect, the Reading Company’s bonds,
Mexican Northern R y. —L is tin g o f S tock on the New Y ork it is believed, enjoy every right and possess all Che security
S tock E x ch a n g e. —The $3,000,000 capital stock of the Mexican that they wou'd enjoy or possess had it been possible for the
Northern was listed this week on the New York Stock Ex Readi' g Company to own the entire estate in tee.
change. Oi page 619 of this issue is printed at length the offic
While the new mortgage is for the aggregate principal sum
ial application for the listing, which gives a very complete of $135,000,000, the issue of bonds under it is strictly limited
statement regarding the property, together with earnings, as follows:
balance sheet, etc.—V. 63, p. 792.
To be issued at once for reorganization p u r p o s e s..............$50,369,000
Montgomery Hayneville & Camden R R .—Proposed M o rt
g a ge f o r $1,400,000.—A meeting of the stockholders is called
for April 13 at the office of the company in Montgomery,
Ala., to authorize $1,400,000 mortgage bonds. Sol. D. Bloch
is President of the company.
Reserved to acquire or rede- m an equal amount of out
standing old bonds of the Philadelehia & Reading RR.
and of Ihe Coal & Iron Co , outstanding Jan 1, 1897,
being all the bonds h aving a prior lien.................... ....... 64,631,000
For future construction, equipment, etc., at not over
$1,500,000 per annum under stringent provisions. . . . . 20,000,000
The bonds of ihe Philadelphia & Reading R ailw ay will be
New York New Haven & Hartford R R .— New England issued from time to time only for the purpose of oeiug depos
R R.—F orm o f G u a ra n ty . —The form of guaranty on the ited as security for the above-mentioned mortgage of the
New England consolidated mortgage 5 per cent gold bonds is Reading Company, but that the reader may know what safe
guards exist with reference to the application of the proceeds
unusual in its provisions. It is as follows:
of these bonds, a brief abstract of the mortgage securing the
F or value received, the New Y ork N ew Haven & H artford RR. Co. same follows that of the Reading mortgage. The total issue
guarantees pa ment o f the prinolpal and Interest o f this oond accord
ing to the terms o f the bond and ooupons annexed, bat if any payment is limited to $30,060,000, including toe $20,000,0 )0 already de
be demanded upon this guaranty this bond shall, at the option o f said posited as part security for the bonds of the Reading Com
guarantor or o f the then holder thereof, be exchanged fo r a debenture pany. The remainiug $10,000,000 can be issued only to the
of the guarantor for the same amount and at the same rate o f inter Reading Company on account of future extensions, terminal
est, both payable in like gold coin fo r the then unexpired term o f this
properties, rollrag Btock, etc., and when so issued will be
bond.
It will be observed that if the exchange mentioned should transferred to the trustee of the Reading mortgage.
P a ym en t o f B on d s. —The Philadelphia & Reading Coal &
take place the bondholder will still receive the same amount
of principal and interest as now, but he will hold a debenture Iron Company bonds also ma'uring April 1, 1897, se
bond, which is a direct obligation of the New Haven Company. cured upon lands known as the “ William Jo ies” tract, PnitaC on solid ation w ith S hore L in e R R .— The Shore Line RR. dtlphia & Mahanoy Coal Company laod. Sbamokio & Bear
Co. has been formally merged into the New York New Haven Valley Coal Company land and Swatara Company’s lands,
& Hartford, its capital stock having been extinguished and will be paid at maturity by either of the above named firms.
—Yol. 64, p. 570.
its bonds assumed by that company.—V. 64, p. 424, 567.
North Carolina RR.—Veto D irecto rs. —Acting under sec
tion 43 of the company’s charter, Governor Russell two weeks
ago removed the old board of directors. He has now ap
pointed the following new board: Dr. R. M. Norment, of
Robeson; Virgil S. Luk, of Buncombe; W o . Gilchrist, of
New Hanover; Charles A. Cook, of Warren; J. S. Armstrong,
of New Hanover; A. W, Graham, of Granville; H U. But
ters, of C lumbus; John Graham, of Warren; all of North
Carolina.—V. 64, p. 524.
Oregon Short Line R R .— New C om p a n y in Possession .—
The new company took the property out of the hands of the
Union Pacific receivers on March 17. The headquarters of
the company have been changed from Omaha to Salt Lake
City.—V. 64, p. 424.
People’s Cable and Fonrth St. & Arsenal Ry. Cos.—R eor
g a n iz a tio n .—A meeting of the bondholders was held at the
office " t James Campbell, No. 218 North Fourth Street, March
15, 1897, for the purpose of framing an acceptable plan for
the reorganization of said companies. Nathan Frank and
Rio Grande Sierra Madre & Pacific RR.—El Paso
Southern.—P rogress w ith C on stru ction .—The Rio Grande,
Sierra Madre & Pacific, which is constructing a road in
Mexico from Ciudad Juarez to Cassas G-a- des, 156 miles,
expects to have the entire line completed by July 1. Tne El
Paso Southern has been organized with a capital of $200,000
to build the El Paso terminals of the Rio Grande, Sietra
Madre & Pacific, and to construct the bridge across the
Rio Grande River.—Y. 63, p. 459.
Southern Railway.—$7,123.000 F irst Consols L isted .— Ad
ditional first consols for $1,123 OOd have been listed on the..
New York Stock Exchange as follows: $29 000 to take the
place of dtvisijnal bonds redeemed; $494 000 i i place of an
equal amount of equipment liens paid off pri ir to Jan. 1,
1897, and SI,000,000 for new construction, equipment, b-ttertnents and other acquisiiions, $600,000 havi ,g oeen so used,
and the remainder ($400,000) set apart for dk use.
Certificates filed with the tru tee snow tin t the proceeds of
$1,000,000 previously drawn under same sec:iou were expended
principally for additions to shops at Knoxville and Atlanta
612
1 HE
C H R O N IC L E .
an d shops at Salisbury (£357,829) and ne,v equ ip n e o t ($847,*
3491, all o f w hieb p roperty is s u b je ct to the m ortgage.
Since the date o f th e m ortga ge the ra ilw a y co m p a n y has
m a de tw o supplem ental pledges co v e rin g large am oftnts o f
d istin ctly n ew property acqu ire !, against on ly a part o f
w h ich bonds h a re been sp ecifica lly issued T h e total a m ou n t
o f first consols listed to date is $36,98*3,000.— V. 84, p. 524.
(VOi,. LAIV.
^Reports a tid H crciim eu ls.
READING C O M P A N Y AND T H E PHILADEL
PHIA & READING C O A L & IRON CO.
ABSTRACT OF THE GENERAL MORTGAGE, DATED
JANUARY 5, 1897,
Sw a n I n ca n d e s ce n t E le c t r ic L ig h t . — V o lu n ta ry D issolu
SECURING $135,000,000 OF -1 PER CENT GOLD BONDS
t io n .— This c o m p a n y , o f 14 W h ite S treet, has ap p lied to the
DUE JANUARY 1, 1997.
Su prem e C ou rt fo r the vo lu n ta ry d issolu tion o f the co m p a n y .
T r a n s -M is s o u r i F r e ig h t A s s o c ia t io n .— A greem en t H eld
In v a lid .— A t W a sh ington , M arch 33, Ju stice P eck h a m , o f the
U n ited States Suprem e C ourt, an n oun ced the decision o f a
m tjo rity o f the C ou rt th a t th e agreem en t o f the A ssociation
to m aintain rates w as a violation o f the anti-trust la w o f 1890,
proh ibitin g con tra cts o r com b in a tion s in restraint o f trade.
This reversed the decision o f the courts b elow , w h ich ordered
a dism issal o f the G overn m en t’s bill. Justices F ield, G ra y,
Shiras an d W h ite dissented. An article on tb s decision a p
pears in o u r editorial colu m n s,
J u d g e D illon , w h o w as on e o f the coun sel fo r the F reig h t
A ssociation , says: Substantially three proposition s w ere d e
cid e d b y th e m a jo rity . First— That the provision s o f the
A n ti-T ru st A c t, so-called, u n d er w h ich the suit o f the U n ited
States against the Trans-M issouri F reigh t A ssociation w as
b rou gh t, exten d to an d em b ra ce the business o f inter-State
transportation b y railw a ys. S econ d — T hat the particu lar
agreem ent o f the eighteen com p a n ies w hich constituted the
Trans M issouri F reigh t A ssocia tion is an a greem en t in re
el ra in t of inter-State trad e and com m e rce , and th erefore v io
lates the provisions o f the A nti-T rust A c t ; and, third, that
the U n ited States has a stan din g in a co u rt o f equ ity u n d er
that A c t to e n jo in the v iola tion o f its p rovision s in a civ il
p roceedin g.
A c o rd in g to press dispatches th e fo llo w in g w ith draw als
fro m traffic associations h ave occu rred as a result o f th e above
decision , but it is possible that in som e instances th e d e t e r
m ination to w ith d ra w m a y be recon sid ered:
PARTIES.
The R e a d i n g C o m p a n y of Pennsylvania, party of the first
part, and T h e P h i l a d e l p h i a & R e a d i n g C o a l & I r o n C o m
p a n y of Pennsylvania, hereinafter called the “ Coal Com
pany," party of the second part, said two parties being here
i n a f t e r called the “ Companies," and the CENTRAL T r u s t
C o m p a n y of New York, hereinafter called the “ Trustee,”
party of the third part.
PREAM BLE.
the Reading Company owns divers properties,
including capital stock of the Philadelphia & Reading
Railway Co. and capital stock of The Philadelphia & Read
ing Coal & Iron Co.; all of which have been received [after
foreclosure sale of said properties July 33, 1896. under the
General Mortgage of the Philadelphia & Reading R a ilroa d
Co. and otherwise. E d s .] by transfer made or authorized
by Charles H. Coster, Francis Lynde Stetson, or by Charles
H. Coster, Francis Lynde Stetson and J. P. Morgan >& Co.;
and
W h e r e a s , the Coal Company owns coal lands and other
property received by deeds o f conveyance made or author
ized by'Charles H. Coster and Francis Lynde Stetson; and
W h e r e a s , A ll such properties have been received under
the agreement to make the joint and several bonds o f the
Reading Company and of the Coal Company for the pur
poses herein provided; and
W h e r e a s , p o r t io n s of the real estate and equipment of
the Reading Company are subject to certain mortgages and
Name o f Company.
Associations wilhdrawn from .
equipment obligations heretofore made by The Philadelphia
A iclusou Topeka & Saute F a ..............All freight associations.
& Reading RR. Co., and
Chicago Burlington & Q u in cy............ A ll fr e g h t a n d pass, associations.
Chicago Milwaukee & St. P aul........
do
do
Chicago it Northwestern....... ...........W estern Freight Association.
„
„ __,, ,
t Western Freight A ssociation and
Kansas City Fort. Scott & Memphis, j Trang Missouri A ssociation.
Louisville E vansville & 8t. Louis . . Southern Freight Association.
Minneapolis A St. L o u i s ................... All freight associations.
Missouri Pacific...................................... All freight associations.
8t, Lotus & San F rancisco................... A ll freight and pass, associations.
T r o w D ir e c to r y P r in t in g & B o o k b in d in g ,— R ed u ctio n o f
S tock P rop osed .— The stockh olders w ill vote A pril 7 on a
proposition to red u ce the capital s to ck from $1,500,000 [on eh a lf o f w h ich is cu m u la tiv e p referred] to $850,000, all o f on e
class. The proposition is to g iv e to the co m m o n stock h olders,
f o r each ten shares o f sto ck h eld b y th em at present, one
share o f the n ew stock , w h ich w ill be en titled to d iv id en d s
t qu ally w ith all the oth er shares o f th e co m p a n y ; w h ile the
preferred stock h old ers w ill receiv e $776,500 n ew stock in e x
ch a n g e fo r their present h old in g o f $750,000 p referred sto ck ,
an d In satisfaction o f their cla im fo r a ccu m u la ted dividen ds
a m o u n tin g on A p ril 1, 1897, to $385,000.
T h e resu lt w ill be
io g iv e the co m p a n y a surplus o f assets o r capital o f about
$30,000 instead o f a deficit, as at present, o f n ea rly $350,000,
and, it is believed , to enable th e sto ck t o be pla ced a t an
e a rly date on a d iv id e n d -p a yin g basts.
T he plan is based o n the fo llo w in g a d ju sted ba la n ce sheet,
sh o w in e a surplus o f cu rren t assets, plant, etc., ov er lia b ilit
ies o f $880,168.
Liabilities March 1—
Assets March 1 —
Beat estate..................— $225,000 Bills p ayable..................... $53,815
Open ledger accoun ts___
9,205
D irectory plant, good
2,171
will, e t c ...................... . 200,000 Three days’ pay roll.........
Print, and bindery plant. 330,772 Surplus o f assets over
lia b ilitie s........................ 880,168
Bonds o f Am. F o b . Corp.
valued a t ....................... 60,000
Stock and U D f i n . w ork ___ 72,731
Bills receivable. .............. 11,793
©pen ledger a c c o u n ts .... 32,615
Inaur*e paid In a d v a n ce ..
2.958
Cash in banka, eto............
3,125
T ota l.................................$915,389
- y . 63, p. 355.
T o ta l.................................$915,389
W hereas,
COAL & IRON COM PANY’S BONDS.
portions of the lands of the “ Coal Company’
on Jan. 1st, 1897, were, subject to a mortgage securing a
bond of #30,000,000, pledged as collateral as hereinafter
stated, and were also subject to mortgages and real estate
bonds for an aggregate principal sum of $12,050,606.— [See
list o f these on page 618 follow ing the abstract of the mort
gage of Philadelphia & Reading Ry. Company.— E d s , )
W h ereas,
DESCRIPTION OF TH E NEW G E N E R A L M ORTG AG E BONDSa n d w h e r e a s , the directors and
stockholders o f the
Reading Company and of the Philadelphia & Reading Coal &
Iron Company have duly authorized the making of this new
General Mortgage for an aggregate principal sum not exceed
ing $135,000,000, the principal of the bonds to be. paya
ble in gold coin of the United States of the present stand
ard of weight and fineness on Jan. 1, 1997, at the office or
agency o f the Reading Company, in the City of New York,
with interest thereon at the rate o f 4 per cent per annum
from. Jan. 1,1897, payable semi-annually at saul office or
agency in like gold coin on the first days o f January and
July in each year. The bonds to be coupon bonds of the
denomination of $1,000, numbered consecutively from Ml
upwards, and registered bonds of the denominations of
$500, $1,000, $5,000 and $10,000, numbered consecutively and
respectively from D l, Ml, VM1 and XMI upwards, and all
bonds to be executed In the names o f the Reading and
the Coal Company jointly and severally and under their re
spective corporate seals by their respective presidents, or
any vice-president, and their respective secretaries, or as
sistant secretaries, and to be substantially of the follow
ing tenor, to-wit:
FORM 01* COUPON BONDS.
NO.
$1,000.
UNITED STATES OF A M ER IC A .
STATE OP PENNSYLVANIA.
HEADING COM PANY, A N D THE P H IL A D E L P H IA ct REA DING
COAL d- JEON COM PANY.
G eneral
m ortgage
F o u r P e r G en t G o ld B o n d s.
b y thesis P r e s e n t s , Tliat R e a d in g C o m p a n y and
ffm . Cramp & Sons Ship & Engine Building .--P a y m e n t o f T hKen oPwh i laal dl eMl pen
h i a & R e a d in o g o a l &
I r o n C o m p a n y , c o rp o r a
N o tes .—The company has paid of its Drexel gold notes an tions o f the State o f P ennsylvania, hereinafter called the ” C om panies,”
additional $150,000 ($50,000 due March 1, $50,000 April 1, for value received, join tly and severally prom ise to p ay to the hearer,
if registered, to the registered holder o f this hotul, One Thousand
$50,000 May 1). The amount issued was $1,500,000; paid to or,
Dollars, gold coin o f the United States o f Am erica o f the present
date, $500,000; outstanding, $1,000,000. The next payment is standard o f w eight and fineness, on the first clay o f January, in the
due June 1, 1897.—V. 63, p. 804.
year 191*7, at, the office o r agenoy o f the R eading Company in the City
o f N ew Y ork, N. Y ., and to pay Interest thereon, at the rate o f fou r
W ool Exchange Company, New York City.—Safe o f S tock . l>er ce n tn e r annum, from January 1st, 1897, payable sem i-annually
—This company, which owns the W ool Exchange building in at said office or agency, in like gold coin, on the first days o f January
and Jul y In each year, bu t only upon presentation and surrender o f
this city, has been offering for sale $300,000 of its oapital the
annexed coupons as they severally ma ture.
stock, the unsold balance of the authorized issue of $1,000,Both the principal and Interest o f this bond are payable w ithout de
duction
fo r any tax or taxes o f the United States or an y State or M u
000. Aden Maenaughton is President of the company.
— Messrs. E, D, Shepard & Go. offer $130,000 City o f Macon,
Ga., 4}^ per cent paving bonds. Their advertisement in our
State and City Department gives details of the issue and of
the city’s finances, etc.
—The statement of the Credit Lyonnais, on January 31,
will be found in the advertising department. A dividend of
35 francs, or 7 per cent, for the year 1898 has been declared
against 34 francs for 1895.
n icipality thereof, w hich the Com panies, or either o f thorn, m ay be re
quired to p ay, or to retain therefrom , under any present o r future law.
This bond is on e o f a series of coupon and registered bonds o f the
Companies know n as “ General M ortgage i% Gold B onds,” d u ly au
thorized and approved by the Board o f Directors and the Stockhold
ers severally o f each o f the Companies, and Issued and to be issued, to
an atnouul not exceeding, in the aggregate, $135,000,000 at any one
time outstanding; all o f whtoh bonds are issued under, anil in pursu
ance of. and are equally secured by, a m ortgage or deed o f trust dated
January 5th, 1897, executed by the Companies to the Central Trust
Com pany o f New York, a corporation o f the State o f New Y ork, as
Trustee,‘o f a ll the property and franchises o f the Companies m entioned
in said m ortgage or deed o f trust, to which reference is hereby made
THE
M a r c h 27. ia»7. i
< HRONICLE
fo r a description o f the p rop erty and franchises m ortgaged and the
Together with such overdue coupons belonging to any
nature and extent o f the security, and the rights o f the holders o f said
bonds under the same, and the terms and conditions upon which said such bonds as shall at any time be delivered to the Trustee.
bonds are issued and secured.
V .-S H A R E S OF CAPITAL STOCK.
This bond m ay be registered as to principal in the owner’ s name
F i f t h . The following shares of capital stock now belong
on the books o f the Companies at the office or agency o f the Reading
Com pany in the City o f New York, such registry being noted on the ing to the Reading Company for which proper certificates
bond by the Companies’ transfer agent, after w hich no transfer shall are to be transferred to the Trustee as hereinafter provided:
be valid unless m ade on the Companies’ books by the registered owner,
and sim ilarly n oted on the bond; but the same m ay be discharged from
I.
registry b y being transferred to bearer, after which transferability
ENTIRE ISSUE OF STOCK CONVEYED EXCEPT SHARES QUALIFYING
b y delivery shall be restored ; but it may again from time to time be
DIRECTORS.
registered or transferred to bearer as before; such registration, how
P e r V a lu e .
ever, shall not affect the negotiability o f the coupons by delivery Philadelphia & Reading Railw ay C o.................... 399,900
m erely. This bon d is also exchangeable fo r registered bonds without Philadelphia & Reading Coal & Iron C o............... 159,900 $19,995,000
7.995.000
coupons, as provided in said m ortgage or deed o f trust.
Chester & Delaware R iver RR. Co.........................
750
37.500
This bon d shall n ot becom e obligatory fo r any p urpose until it shall Danville
& Shamokin RR. C o.................................
4,900
245.000
have been authenticated by the certificate hereon endorsed o f the Delaware R iver Ferry Co. o f New Jersey .......... . 4,900
490.000
Trustee under said m ortgage or deed o f trust.
iddletow n & Humm elstown RR. C o..................
3,400
170.000
I n w it n e s s w h e r e o f , the Reading Company and The Philadelphia M
Norristown Ju nction RR. Co .................................
350
17.500
& Reading Coal & Iron Com pany severally have caused these presents Philadelphia
& Frankford RR. C o..................
. 9,979
498,950
to be sighed by their respective presidents or vice-presidents,'and Philadelphia R eading & Pottsville Telegraph Co.
369
18,450
their respective corporate seals to be hereunto affixed, and to be at Philadelphia & Reading Terminal RR. C o .......... 169,950
8,497,500
tested b y their respective secretaries or assistant secretaries, and Philadelphia H arrisburg & Pittsburg RR. C o ... 39,900
1.995.000
coupons fo r said interest, with the engraved signature o f their respec
ort Reading RR. C o................................................ 15,550
1.555.000
tive treasurers, to be attached hereunto, this fifth d^y o f January, 1897. P
Rupert & B loom sburg RR. C o................................
960
48.000
R e a d in g C o sip a n y ,
Schuylkill & Lehigh Railroad C o...........................
960
48.000
By
Shamokin Snnbury & Lewisburg RR. Co............. 39,900
1.995.000
President.
Tamaqua Hazleton & Northern RR. C o..............
5,000
295.000
Attest:
Reading Iron Com pany............................................. 9,980
998.000
Secretary.
T h e P h i l a d e l p h i a & R e a d in g C o a l & I r o n C o m p a n y ,
II.
By
MORE THAN ONE-H vLF OF STOCK ISSUE CONVEYED.
Attest:
President.
Secretary.
FORM OF INTEREST COUPON, OF WHICH TUB FIRST IS TO BE PAYABLE
J u l y l , 1897.
No.
$
On the first day o f
,
, Reading Company and The
Philadelphia <fe Reading Coal & Iron Com pany will pay to bearer at
the office or agency o f the Kea ling Com pany iu the City o f New York.
N. Y ., T w enty dollars gold coin, w ithout deduction fo r taxes, being
six m onths’ interest then due ou their General M ortgage c o l d Bond
No.
Treasurer o f Reading Company.
Treasurer o f The P. & R. C. & I. Co.
FORM OF TRUSTEE’ S CERTIFICATE.
This bond is one o f the series o f General M ortgage G old Bonds de
scribed in the within-mentioned Mortgage or Deed o f Trust executed
by the Reading C om papy and The Philadelphia & Reading Coal &
Iron Company to the undersigned.
C e n t r a l T r u s t C »m p a n y
By
of
Ne w Y o r k ,
Trustee.
Vice-Pre.-ident.
A . —P R O PE R T Y CON VEYED AS SE C U RITY B Y TH E READING
COMPANY.
(1) The Reading Company conveys to the Trustee all and
singular the following lands, rights and franchises and
bonds and shares of capital stock, viz.:
I . — CERTAIN REAL ESTATE.
real estate formerly of the Philadelphia & Read
ing RR. Co., described in deeds dated Dec. 23d, 1896, from
Charles H. Coster and wife and Francis Lynde Stetson and
wife to the Reading Company, to be recorded respectively
in the several counties in which the said real estate is situ
ated; but not including any right o f way, depots or yards
formerly of the said Railroad Company.
F ir s t . A ll
II.— ROLLING STOCK FORMERLY OWNED BY PHILADELPHIA & READING
RAILROAD CO.
S e c o n d . A l l locomotives, cars, carriages and rolling stock
formerly of The Philadelphia & Reading Railroad Co.
III.— VESSELS FORM ERLY OWNED BY PHILADELPHIA & READING
RAILROAD CO.
Atlantic City RR. Co., P referred ...........................
Commo .......................................................................
Allentown RR. Co. ..................................................
Catasauqua & Fogelsville RR. Co..........................
Colebrookdale RR. Co..............................................
Camden County RR. C o ...........................................
East Mahanoy RR. Co...............................................
East Pennsylvania R R .............................................
Gettysburg <fc Harrisburg RR. C o.........................
Northeast Pennsylvania RR. C o............................
Pickering Valley RR. C o.........................................
Philadelphia & Chester V alley RR. Co.—
(a t P referred ..........................................................
(b) C om m on ..........................................................
Reading A Columbia RR. C o...................................
Shares.
19,971
23,900
21,428
10,065
5,530
-1,000
5,600
17,500
10,700
6,300
1,200
P er T*alue.
$998,550
1,195,000
1,071,400
251,625
276,500
50,000
280,000
875,000
535,000
315,000
60,000
4,102
9,000
15,700
205,100
450,000
785,000
Shares.
228
310
1,816
1,718
1,620
1,900
750
2,576
1,560
2,675
1,220
360
3,900
P ar Value.
$11,400
15,500
181,600
85,900
81,000
47,500
37,500
128,800
78,000
53,500
6 ',0 0 0
9,000
19,500
III.
MISCELLANEOUS SHARES.
Catawissa RR. Co., First preferred.......................
second p referred ....................................................
Central Dock & Terminal Ry. C o...........................
Junction R ailroad Com pany.......... ........................
Mine Hill & Schuylkill Haven RR. Co .................
Mill Creek <fc Mine H ill Navigation RR. C o______
Mount Carbon & Port Carbon RR. C o..................
North Pennsylvania RR. Co
.............
Philadelphia Belt Line RR. Co., preferred..........
People’s Railw ay Co. o f Pottsville.........................
Schuylkill Valley Navigation & RR. C o...............
Swede’s Ford Bridge C o...........................................
Slatington Railroad Co.............................................
V I TO X .— CERTAIN AFTER-ACQUIRED PROPERTY.
S i x t h . All other shares of stock now held or hereafter ac
quired of any of the companies enumerated in Subdivision
Fifth.
S e v e n t h . All stocks, bonds, certificates of indebtedness,
claims and other property, now or hereafter acquired, which
the Reading Company by this indenture is required to
transfer to the Trustee.
E i g h t h . All property of every name and nature from
time to time hereafter transferred to the Trustee.
N i n t h . All rolling stock and equipment of every descrip
tion, including steam colliers, vessels, canalboats and
barges (whether or not above specifically mentioned), now
owned or hereafter acquired by the Reading Company; and,
T e n t h . All estates, lands, properties, rights, privileges
and franchises, real, personal or mixed, hereafter acquired
by the Reading Company, as appurtenant or incidental to,
or in replacement of any above described.
T h i r d . All steam colliers, vessels, canalboats and barges
formerly o f The Philadelphia & Reading RR. Co., including
specifically those enrolled with the Collector of Customs at
Philadelphia as having heretofore been transferred directly
to the Reading Company by Receivers o f the Phila. & Read
ing RR. Co. (such transfers having been made at the re
(B ) PRO PE R TY CONVEYED B Y TH E COAL COM PANY.
quest of Charles H. Coster and Francis Lynde Stetson), and
(2) The Coal Company conveys unto the Trustee all and
including the barges which are registered in the name of the
Provident Life & Trust Co. as security for Car Trust Series singular the following estates, lands, leaseholds, properties,
rights, privileges and franchises, and bonds and shares of
D of said Railroad Company.
capital stock, viz.:
I V .—CERTAIN BONDS TO BE DELIVERED TO TRUSTEE.
a .— COAL AND
IKON LANDS, RAILROADS AND
ROLLING STOCK, BUILD
F o u r t h . Certain bonds of the several following corpora
INGS, WHARVES, BTC.
tions, to be delivered to the Trustee as hereinafter provided,
E l e v e n t h . All and singular the coal lands, iron-ore lands,
and for the aggregate principal sums as follows, viz.:
and other real estate, railroads, rolling stock and equip
Philadelphia &. Reading R ailw ay C o .....................................IT$20,000,000 ment, mines, collieries and breakers, yards, depots and
Catawissa R ailroad <’o.—10% Chattel M. bonds, 1868-1888.
98,4oO wharves, etc., etc., now owned by the coal company or in
5% Chattel m ortgage bonds, 1880..........................................
24,500
7 % Debenture bonds, 1917......................................................
62,000 any manner held for its benefit. Also all estate and inter
7% Im provem ent m ortgage bon ds........................................
est of every nature and kind whatsoever o f the Coal Com
Camden County RR. Co................................................................
69,000 pany in such property; including all property of every kind
C olebrookdale R R . Co.—M ortgage bonds................................
593,400
G ettysburg & Harrisburg RR. Co. Car T rusts.......................
18,000 specified in certain deeds of conveyance dated November
People’s Railw ay C om pany........................................................
6b,ouu 18, 1896.
Perkiom en Railroad C om pany..................................................
Philadelphia Reading *fc Pottsville Telegraph Co.............
Philadelphia <fe Chester Valley RR. C o .-P re fe rre d b on ds..
Bonds n ot p referred...................................................................
Philadelphia Harrisburg <fe Pittsburg RR. C o........................
Philadelphia N ewtown & New Y ork RR, Co — ...................
Pickering Valley RR. Co.—First m ortgage loa n ..................
Reading & Columbia RR. Co.—First m ortgage....................
200,000
25,000
,
l*f^ ",000
84J,100
**
b — CERTAIN BONDS.
T
Loan, 1882.............................
Im provem ent loan (loan o f 1880)................... .....................
B oat and car loans ...................................................................
The following bonds, delivered to the Trustee:
P a r v a lu e .
Preston Coal & Im prove nout 7% m ortgage bon ds............... $1,087,000
900.000
Treraont Coal Co. 6%M ortgage b o n d s.......................
209.000
Mammoth Vein Coal & Iron Coal Co. 8% m ortgage bon ds..
okhod
C.— CERTAIN SHARES OF CAPITAL STOCK.
The folio wing shares of capital stock now be
longing to the Coal Company, proper certificates for which
Sok’ kJX are to be transferred to the Trustee :
5*25n
S h a res.
P a r v a lu e .
T
Tam aqua Hazleton & Northern RR. C o..................................
Schuylkill Navigation Co.—Loan, 1872...................................
w elfth .
3i t « ’ooo
72? nnn
l,dzu,uou
11 An abstract o f the m ortgage securing this bond is given at the end
o f this abstract.—E ds.
h ir t e e n t h ...
Preston Coal & Im provem ent Co.
Fulton Coal C o.................................
L ocust Gap Im provem ent C o.......
Trem ont Coal C o..............................
M ammoth Vein Coal & Iron C o...
Delaware Coal Co............................
56,647
63,507
52,492
118,314
60,386
5,183
$2,832,350
317,535
524,920
2,957,850
603,860
259,150
THE CHRONICLE.
614
4 .— CERTAIN AFTER-ACQUIRED PROPERTY, ETC.
All interest o f the Coal Company, now or
hereafter acquired, in all other shares o f stock o f any o f the
Companies above enumerated in Section Thirteenth.
F eptkentb. All other property appurtenant to the busi
ness o f the said Coal Company, whether now held or here
after acquired.
S ixteenth . All stocks, bonds, certificates o f indebted
ness, claims and other property of every name and nature,
now owned or hereafter acquired which the Coal Company,
b y this indenture, is required to transfer to the Trustee; and
"S eventeeth, All property o f every name and nature
hereafter transferred to the Trustee as additional security,
F ou rteen th .
P R IO R OBLIGATIONS.
Subject, as to certain portions o f the p r o p e r t y hereby con
veyed, to the herein recited mortgages of said The Phila
delphia & Heading RR. Co. and said The Philadelphia &
Reading Coal & Iron Co. so far as such mortgages respec
tively cover such property; and
Subject to all the obligations contained in the several
deeds to the Reading Company or to the Coal Company,
respectively, by Charles H. Coster and Francis Lynde Stet
son or J. P, Morgan & Co., Managers, or in the several
agreements mentioned in said deeds and transfers as a con
sideration or condition thereof.
A LL OF T H E BONDS TO BE E Q U A L LY SECURED.
But, in trust nevertheless, for the equal aud proportionate
security of all present and future holders o f the bonds and
interest obligations issued and to be issued under and se
cured by this indenture, without preference, priority or dis
tinction of one bond over any other bond.
ARTICLE ONE.
T O TAL ISSUE LIM ITED TO $135,000,000.
S e c t io n 1. Th e aggregate am ount of bonds issued and
outstanding u nder this indenture at anyone time shall never
exceed the principal sum o f §135,000,000.
S E C U R IT IE S C O N V E Y E D
TO B E D E L IV E R E D T O T R U S T E E .— E X C E P T IO N S .
The bonds and the certificates for shares specifically
enumerated as by the Reading Company to be transferred
to the Trustee hereunder shall, prior to the certification of
any bonds hereunder, be delivered to, and pledged with,
the Trustee; excepting, however, the following securities
heretofore pledged by The Philadelphia & Reading RR. or
the Receivers of said company.
P a r value
Pledged for.
P hils. & H 'bu re RR. b o n d ?___$LO 1,000.Barge loan (R R Co.).
Phila. & H 'bu rg RR. bon ds___ 10 0.03 0.Coal storage loan, R eceivers'.
Oatawissa RR. Imp. M. vis.- . 500,00 >_ Phila. Subw ay Agreement.
Phila. & Reading Ter. sto ck ..8 ,1 9 7 ,5 0 9 .Term inal loan (RR. Co )
Phila. & F raulcforl RR, stock . 193,950. Agreem ent Jau. 2 9 ,1 8 9 1.
These bonds and stocks shall respectively be delivered to
the Trustee immediately when released from the respective
agreements under which they are now severally held.
Of the shares specifically enumerated as by the Coal
Company transferred to the Trustee hereunder, proper cer
tificates for
4,012 shares o f the L oonst Gap Im provem en t C om pany;
13,9X6 shares ot the M ammoth Vein C oal & Iron Company;
167 shares o f the Delaw are Dual Company;
3,835 shares o f the Pulton Coal Company;
116 shares o f the Treinout Coal Com pany;
shall be delivered to the Trustee prior to the certification of
any bonds hereunder. The certificates for the remaining
shares so enumerated shall be delivered to the Trustee im
mediately upon their release from the existing liens of the
Philadelphia Sc Reading RR. Co. The bonds so enumerated
shall be delivered to the Trustee immediately upon their
release from the lien of the Ten-Year sinking fund loan of
the Philadelphia & Reading RR. Co., for which they are
now held.
BONDS FOB
$50,369,000
T O BE IS S U E D A T O N CE F O R
P U R P O SE S.
R E O R G A N IZ A T IO N
2. Bonds to the amount of $50,309,000 shall immedi
ately be delivered to the Reorganization Managers.
Sec.
BONDS FOR $ 8 1 ,6 3 1 ,0 0 0 RE KRYBD TO RETIRE ALL OUTSTANDING OLD
BO N D S.
Seo . 3. Of the remainder o f such authorized issue there
shaii be reserved bonds to the amount o f §81,031,000 for the
acquisition or redemption o f the following “ outstanding old
bonds,” v iz,:
[V ol. L X IV .
<b) W henever the Reading Company, on or after the m aturity o f an y
such Outstanding old bonds, or on or a fter a date eight m ouths'prior to*
Shea m aturity, shall tender cash mUBolent to purchase the same at par,
the Trustee shall, in consideration thereof, deliver to the Heading
Company an equivalent amount at par o f the bonds so reserved.
At! rush received by the Trustee under tills subdivision o f tills sec
tion shall by It be applied to the purchase or paym ent at par o f an
equivalent am ount o f the outstanding old bonds ilion unpaid,
let Every outstanding old bond received by the T rustee,unless cancel oil pursuant to any provision o f this Section, shall b y it be slumped
With toe word* "N ot negotiable, but: bold In trust fo r the purposes do"cla red in the inortgagaot (he Reading Company and The Philadelphia
“ & Reading Coal A Iron C om pany,dated January 5th, 1897.” and shall
be hold by the Trustee as additional security. Nevertheless the Trus
tee, upon dem and of the Companies, shall cancel all of the outstanding
old bonds o f any Issue hold hereunder, mmu receiving in lieu tlier< o f
the entire collateral or property held as security therefor, the same to
be Immediately subject to the lien o f this Indenture.
REMAINING $ 2 0 ,0 0 0 ,0 0 0 BONDS RESERVED F O R EXTENSIONS, ADDITION S,
BETTERMENTS. ETC., AFTER J A N . 1, 1 8 9 7 , AT NOT EXCEEDING
$ 1 ,5 0 0 , 0 0 0 YEARLY. SINGLE EXCEPTION AS TO $ 2 ,0 0 0 ,0 0 0 BONDS DELIVERABLE PRIOR TO J A N . 1, 1898.
Sec. 4. The remainder o f the authorised Issue hereunder,
amounting to $20,1100,000 (except such portion as shall be de
livered prior to Jan. 1st, 1898, as provided in paragraph (6 J
of this section), shall be reserved, to be certified by the
Trustee only when called for by resolution of the Board of
Directors o f the Reading Company as next hereinafter pro
vided , for the following purposes, viz.
( a ) For the acquisition of additional shares of stock of the
Philadelphia & Reading Railway Co., and o f additional
bonds o f said company to be issued under its mortgage
dated Nov. 18, 1896; but in every case the par value of the
bonds so acquired shall be at least equal to that o f the shares
so acquired, and the aggregate par value o f the bonds and
shares acquired shall be equal to that o f the bonds hereby
secured used for their acquisition.
[N o t e .—T ho m ortgage o f Hie Philadelphia & Reading Railway C om
pany ot Nov. 1 8 ,1 8 9 6 , is fo r $30,000,000, securing a $20,000,000 s ix
per cen t bon d already deposited with the T ru stee hereunder as part
security fo r this loan, aud also $10,000,000 o f six per cen t bonds Issu
able at n ot exceedin g $1,500,000 yearly to reim burse tbe R ead in g
Company lo r n ot ov er one-half the expen se (tbe other half to b e
represented b y stock as required by the P enn sylvania law ) incurred,
for extensions, additions, rolling stock , etc., on the Philadelphia &
Heading R ailw ay aud certain o f its leased lines, E x tracts from thesaid m ortgage w ill b e found im m ediately follow in g this abtraot. T hey
servo to show tho safeguards created to ensure the p rop er use o f the
said $L0,000,000 bonds, which bonds are eventually to form p a r to f the
collateral securing the present inortgage.--EDS,J
f b j F or th e c o n s t r u c tio n or a c q u is itio n , on a n d a fte r J a n .
1st, 1897, o f r a i l w a y lin e s , e x t e n s io n s , t e r m in a l p r o p e r t ie s
o r r o llin g s t o c k o r o t h e r p r o p e r t y ; o r f o r b e t t e r m e n t s , o n
o r a fte r th a t d a te.
A ll such construction, or betterm ents, or p rop erty acquired, shall be
upon, along, or appurtenant to the properties of the Reading Com
p any or of the Coal Company subject to the lieu o f this indenture, or
upon, along, or appurtenant to Lines o f railw ay o r term inal proper
ties of some one or m ore o f the other eom ian los mentioned in S ibdiviaion F ifth o f the granting clauses hereof under the heading “ L "
or “ I I . ” or o f some other com pan y o f whose capital stock m ore than
oiie-lmlf atth e time o f such use shall be pledged hereunder. Such
lines, extensions or term inal properties or other property may be con
structed or acquired by aud in the m in e o f the com panies, or by or
fo r account o f any such other com pany.
Or for the acquisition on or after Jan 1, 1897, o f shares,
bonds or other obligations of auy company owning any
such line, extension, terminal property, rolling stock or
other property (provided that more than one-half of the total
stock of such company shall be pledged hereunder, and
rovided further that, after the pledge o f more tliau onealf of the capital stock o f any sucli company, no bonds,
shares or other obligations of such company thereafter
issued shall be acquired hereunder unless a sum equal to
the entire proceeds o f the bonds used therefor shall have
been applied by such company to the acquisition or con
struction o f new property or betterments); or
( e j To reimburse the Reading Company for outlays or ad
vances by it made for, or to promote, any construction or
acquisition made pursuant, to ( a ) or ( b ) hereof on or sub
sequent to January 1st, 1897.
ST R IN G E N T R E G U L A T IO N S AS TO ISSU E OF T H E S E $ 2 0 ,0 0 0 ,0 0 0 BO N D S,—
VERIFIED CERTIFICATES.
The,bonds reserved under this Section shall be certified by
the Trustee only as follows, viz.:
(1 ) They shall be delivered only upon receipt of a resolu
Philadelphia A Reading R ailroad Co.:
tion of the Board of Directors of the Reading Company, cer
P rior m ortgage b o n d s................................................................ $5,241,700 tified by its Secretary or Assistant Secretary, calling for the
Consolidated m ortgage bonds o f 1371-1911....................... 18,811,000
Im provem en t m ortgage bonds o f 18 73-1897......................
9,361.000 delivery of such bonds, and stating that the same will be set
Consolidated m ortgage bonds or 1 8 8 2 ,1 st series.............. 5,767,042 aside from all other assets o f the Reading Company, and
Consolidated m ortgage bonds o l 1883, 2d series...............
1,535 will be used only for purposes authorized by this Section.
Term inal b o n d s ...........................
8,500,000
(2 ) In the calendar year 1897 notexceeding §1,500,000, par
Ten-year sinking fund bon Is o f 1892....................................
1,774,000
value, shall be delivered.
Delaw are R iver terminal bon ds and Delaw are R iver
Terminal Extension bon ds...................................................
1,509,000
G rouud rents and bonds secured by m ortgage on real
„
estate........ .............................................................. i ................. 1,012,063
Philadelphia & Reading Coal A- Iron Co.—
D ivisional bonds outstanding Jan. 1st, 1897 [Seo list o f
these follow in g t lie abstract o f the Phila. & R eading
R y , m ortgage.—E o s.]............................................................. 12,050,606
Total (say $61,631,000)............................................... $81,630,946
R IG H T TO ISSUE T H E $01,631,000 B O N D S SO R E S E R V E D .
The $91,031,000 bonds so reserved shall be issued from time
to time on resolutions of the Board of Directors o f the Read
ing Company, as follows, and not otherwise, viz.;
CD W henever tho R eading Company shall tender any o f said ou t
standing old bond*, the T rustee shall in exchan ge therefore deliver to
the R eading Company a like am ount o f the bon us h ereby secured.
( S ) In e a c h c a le n d a r y e a r t h e r e a f t e r t h e r e m tiy b e d e l i v
e r e d n o t e x c e e d i n g §1,500,000, p a r v a lu e ; b u t , in e v e r y i n
s t a n c e , b e f o r e d e liv e r in g t h e s a m e , t h e T r u s t e e s h a ll r e q u ir e
t h e R e a d in g C o m p a n y t o f u r n i s h t h e v e r ifie d c e r t i f i c a t e o f
s o m e p e r s o n o r p e r s o n s , s t a t in g , a s o f t h e ir o w n k n o w le d g e :
(a t That all bond* d elivered under this S ection since the last lire- .
v Iohs vermeil oertUloate have keen used fo r the purposes above p ro
vided, Rpeoiftoally. indicating ev ery acquisition or construction of any
railroad, track, struaturo, betterment, rolling stock or other property,
and every acquisition o f bonds or stuck o f the Philadelphia & Read ilg
Railway Company, and e v ery acquisition o f stock, bond, or other obli
gation* o f any other com pan y ow in g any railroad or oilier property,
Also stating in detail the am ount o f bonds expended for each purpose,
ami that no shell expenditure was inelu led In any previous oertltioate;
(b) rhat the price p aid In siloll bonds for uuy snob construction or
acquisition (nther than for the bonds or shares o f the Philadelphia
M a r c h 27, 1897.]
THE
( 'HTLONIULE.
615
& Beading B y. Co. as aforesaid) was not in excess o f tile fa ir value writing addressed and delivered to the Trustee, shall with
oftlie work done or p rop erty acquired, and that tlie bonds were dis draw this restriction.
posed of at not less than their fair market value;
(c)
In case o f new property the am ount o f all prior lien or ch arg es,
ARTICLE TWO.
i f anv, to which the property is subject.
And in case o f the acquisition o f any shares o f the capital stoek, P R IN C IP A L AND INTEREST TO BE PA ID PUNCTUALLY T A X
FREE.
bonds or other indebtedness in behalf o f the Companies or either of
them, except sh ares or bonds o f the Philadelphia & Beading Kailway
S
e c t io n 1. The Companies will punctually pay the princi
Co., it shall state whether the property o f such other com pan y is su b
je c t to any lien, charge or indebtedness, and, if so, the am ountthereof. pal and interest of every bond secured hereunder, without
deduction from either principal or interest for any tax or
taxes imposed by the United States, or any State or munici
pality thereof, which the Companies, or either of them,
( Jf) The Companies shall not by use o f any such bonds in may be required to pay or to retain therefrom under or by
any one calendar year acquire or construct new property, or reason of any present or future law. When, and as paid,
acquire shares or bonds o f any other company, except shares all coupons shall forthwith be canceled.
or bonds, obligations of the Philadelphia & Reading Rail PROPERTY" H ERE AFTER ACQUIRED W ITH THESE BONDS
TO BE IM M E D IA TE LY SUBJECT TO THIS MORTGAGE.
way Company), if the amount of the liens prior to this in
denture, upon such new property, and all indebtedness of
S e c . 2. A ll property hereafter acquired out of bonds
such companies whose stock shall be acquired, shall in the secured by this indenture shall immediately be subject to
the lien of this indenture.
aggregate exceed $3,000,000.
To retire such certified liens or indebtedness there shall
DEEDS OF FURTH ER ASSURANCE.
be set apart out of the bonds reserved under this Section an
S e c . 3. Whenever demanded by the Trustee, the Compa
amount at par equivalent thereto. The bonds so set apart nies will assign to the Trustee all real and personal estate
shall be taken from the $1,500,000 bonds under this Section which they shall acquire as appurtenant to any railroad
deliverable in such calendar year, or in the next two suc hereby mortgaged or as appurtenant to the property of any
ceeding calendar years, as may be agreed between the Read- company of which any bonds or stocks are pledged hereun
ieg Company and the Trustee.
der, and they will also execute such further deeds and
OFFICERS MUST FILE WRITTEN STATEMENTS AS TO PROPER APPLICATION assurances in the law as the Trustee shall reasonably require
OF BONDS.
for better securing payment of the principal and interest of
( 5 ) Every such verified certificate unless signed (1) by the the bonds hereby secured.
President or one of the Vice-Presidents, and (2 >by the Comp R IG H T TO ACQUIRE PROPERTY' FREE FROM LIEN HEREOF.
troller, or Auditor, or Treasurer, of the Reading Company,
But nothing in this indenture shall limit the right or
shall be accompanied by a written statement of one o f tlie power
of the Companies, or of either of them, hereby
officers first above designated and one of the officers second expressly reserved, by the use of their credit or in any
above designated that they believe such certificate to be true,
and that such bonds have notbeen used for ordinary mainten manner, except by the use of such reserved bonds, or funds
ance of the property owned or controlled by either of the received, pursuant any provision hereof, to construct or to
other property of any kind, or interests therein,
Companies or for replacements or other purposes ordinarily acquire
free from the lien hereof.
treated by similar companies owning similar properties as
OFFICE FOR REGISTRATION OF BONDS IN NEW YO R K C IT Y .
a part o f their operating expenses.
S e c . 4. The Companies will maintain in New York City a
SUCH AFTER-ACQHIRED PROPHRTT TO BE SUITABLY' CONVETED AND
registry office for the registering upon presentation of cou
BONDS AND STOCK SO ACQUIRED TO BE PLEDGED WITH TRUSTEE.
Together with these statements and verified certificates, pon bonds and registered bonds issued hereunder. [For
there shall be delivered to the Trustee all bonds and shares further provisions respecting registration see See. 5 of Arti
o f stock so acquired, and such further instruments as may cle One and also the copy of the bond above.—E d s .]
be necessary to vest in the Trustee all new property so ac OLD OUTSTANDING BON DS—INTEREST MUST BE P A I D -P R IN
C IP A L M A Y BE EXTENDED AND M AY BE MADE
quired. Also there shall be furnished the written opinion
P A Y A B L E IN GOLD.
of counsel of the Reading Company to the effect that such
c . 5. The Companies will punctually pay the interest on
instruments and conveyances are sufficient for that purpose. allS eoutstanding
bonds of the Philadelphia & Reading RR.
PRIOR TO JAN. 1, 189S, $ 2 ,0 0 0 ,0 0 0 BONDS ARE SUBJE8T TO THE ORDER
Co. and of the Coal Company mentioned in Section 3 of
OF THE REORGANIZATION MANAGER8.*
Article One hereof, and will observe all the covenants un
(6 J Except to retire indebtedness, as hereinbefore pro dertaken by the several mortgages securing same. But the
vided, and except as provided further on in this paragraph, right is expressly reserved, (1), to extend the time for the
bonds shall not be issued or certified under this Section in payment of the principal of any of said outstanding bonds,
excess of an aggregate amount of $1,500,000 in any one cal or, (2), in substitution for any such outstanding bonds to
endar year, provided, however, that if tlie Reorganization issue new bonds of lien prior to this indenture; but not to
Managers, on or before January 1 ,1898, by writing addressed increase the aggregate principal sum or the rate of interest
to the Companies and to the Trustee, shall require the de of such outstanding bonds. The principal and interest of
livery to them of $2,000,000 * of said $20,000,000 bonds; the all such new or extended bonds may be made expressly pay
Trustee shall deliver bonds to said amount. Such delivery able in gold coin of the United States of the present stand
shall be in addition to any deliveries under the foregoing ard of weight and fineness. It is to be understood, how
provisions of this article and shall not impair tlie preceding ever, that the $30,090,000 bond of the Coal Company above
provision for delivery of the residue of the $20,000,000 of mentioned in Section. 4 of Article One shall be extinguished
bonds subsequent to Dec. 31st. 1896.
so soon as said bond shall be released from its pledge as col
REGISTERED BONDS W ITHOUT COUPONS.
lateral security for said outstanding old bonds, known as
S e c . 5. Coupon bonds amounting to $1,000 or to any mul Consolidated Mortgage bonds of 1871-1911.
tiple shall bo exchangeable at the option of the holder for
THE COMPANIES NOT TO SUFFER P R IO R LIENS TO BE
CREATED.
a like amount of registered bonds, without coupons, and .
when surrendered for that purpose shall forthwith be can
S e c . 6. The Companies will not voluntarily suffer any lien
celed. The registered bonds shall be for $500, $1,000, $5,000 which would be prior to the lien of these presents, except
or $10,000. Whenever any such registered bonds shall be ing such indebtedness as is hereinafter permitted, and also
surrendered for transfer, the Trustee shall deliver to the any obligations to the city of Philadelphia now or hereafter
transferee a like amount o f new registered bonds; but no necessary to procure the building and completion of the
registered bond may be converted into a coupon bond.
subway in said city.
For any exchange of coupon bonds for registered bonds,
' T A X E S, ASSESSMENTS TO BE PROMPTLY PAID.
and for any transfer of registered bonds without coupons,
S e c . 7. The Companies will also from time to time pay all
the Reading Company, at its option, may make a charge not taxes, assessments and governmental charges lawfully im
exceeding 50 cents for each new registered bond issued in posed, the lien of which would be prior hereto.
exchange for any surrendered bonds; but no charge shall be THE M ORTGAGED PREMISES TO BE THOROUGHLY M AIN
made for registration of the principal o f coupon bonds.
TAINED.
NEW PKOPEKTV SO ACQUIRED IS ANT ONE TEAR SHALL NOT BE SUBJECT
TO OVER $ 2 ,0 0 0 ,0 0 0 OF LIENS, AND FOR THESE LIENS BONDS
HEREBY SECURED SHALL BE RESERVED.
BONDS M U TILATED OB DESTROYED M AY BE REPLACED.
In case any bond issued hereunder shall become mutilated
or shall be destroyed, the Companies, in their discretion,
may issue, and the Trustee thereupon shall deliver, a new
bond of like tenor and date, bearing the same serial num
ber either upon cancellation of tlie mutilated bond and its
coupons, or upon receipt o f satisfactory evidence of the
destruction of such bond and its coupons, and upon receipt
also of satisfactory indemnity.
BIGHTS H E R E B Y CONFERRED A R E FOR TH E SOLE BENEFIT
OF TH E PARTIES HERETO AND TH E GENERAL
MORTGAGE BONDHOLDERS.
S e c . 6. Nothing herein shall be construed to confer upon
any person other than the parties hereto and the holders of
bonds secured by this indenture any legal or equitable right,
remedy or claim. Neither shall any covenant or remedy
apply to the Delaware River Terminal bonds, or of the Del
aware River Terminal Extension bonds, mentioned in Section 3 of this Article One, unless the Reading Company, by
N o te .—'T ills Is as a sa feg u a rd against any unexpected m atter that
m a y d ev elo p in so la rg e a reorganization. It is not expected tuat these
$ 2 ,0 0 0 ,0 0 0 bonds w ill bo w an ted .— E d s .
S e c . 8. The Companies w ill at all times m aintain the
mortgaged premises and w ill replace all parts thereof lost,
destroyed or used up [aside from.coal mined and sold].
ACTS P R O H IB ITE D W HICH WOULD IM PA IR THE VALUE
OF THE SECURITY FURNISHED BY" PLEDGED SHARES.
S ec. 9. Except subject to the lien hereof, or as herein
otherwise expressly provided, the Companies (1) will not part
with or encumber any shares, or the voting power thereon,
of any Company a majority of whose stock shall have been
pledged hereunder, and (2) will exercise their voting power
thereon in such manner that they shall retain in themselves
the rights of the majority stockholder therein; and (3) will
at all times preserve each company’s corporate existence.
Neither will the Companies as stockholders permit any
such company, with the exception of the *Coal Company, to
increase its capital stoek or to create any so-called ’ ‘float
ing” indebtedness (except current operating accounts for a
period not exceeding six months) or to issue or guarantee
' Tlie reason fo r tlie distinction as to tlie Coal Co. is obvious, viz. ;
all its property is subjected directly to tliis mortgage, consequently
the security o f this m ortgage Is not through the stock.—E ds.
H
*>
I'BK < HHONlc LE
any bon-Is, or to create any mortgage or other lien upon tis
property (except bonds or mortgages or other liens in exten
sion or replacement of those now existing), u n less immedi
ately there shall be pledged with the Trustee (1) all such
additional stock (or an amount proportionate to the part
previously pledged hereunder), and (2) all such indebted
ness and all bonds so issued or guaranteed, and (3) any
mortgage or other lien.
Except as herein otherwise expressly provided, neither of
the Companies will permit any railroad company o f whose
capital stock the greater part shall be pledged hereunder to
dispose of its railroad, or to lease the same (unlesssuch lease
be terminable hereunder by the Trustee), except to some
company a majority o f whose capital stock there shall then
be pledged to the Trustee hereunder.
S ec. 10. All claims which the Companies may have against
any such company shall be subject to the lien hereof.
THESE G E N ERAL M ORTGAGE BONDS TO BE DISPOSED OF
ONLY AS HEREIN PRO V ID E D .
S ec. 11. The Companies will dispose o f the bonds hereby
|Vol. L2l\
proceedings to be instituted to foreclose the mortgage by
which such bonds are secured,
[Then follow explicit directions as to the course which
shall be pursued in order to secure for the bondholders here
under their rights in every particular in the event o f fore
closure sile, liquidation or reorganization of any company
whose securities are pledged with the Trustee.]
ARTICLE FOUR.
COUPONS PLEDGED A P A R T PROM BONDS TO H AVE SU B O R D
INATE LIEN.
Sec. 1. No interest obligation belonging to any bond here
by secured which on an.l after maturity shall be transferred
or pledged apart from its bond shall bs entitled to any ben
efit from this indenture, except after the prior payment in
full of the principal o f all bonds issued hereunder, and o f
all coupons and interest obligations not so transferred or
pledged
DEFAULT F O R S tX M ONTH S,TRUSTEE M AY T A K E POSSESSION.
SEC. 2. In case (1) o f default for six months in the pay
secured only in accordance with the provisions o f this in ment o f any interest on any bond at any tune secured by
denture, and for the purposes herein prescribed, and for no this indenture, or on any bond (except as provided in Sec
other or different purpose.
tion 6 of Article One) for the acquisition o f which bonds
SINKING FUND PAYM EN T TO BE M ADE BEFO RE DECLARA secured hereby are reserved under "Section 3 of Article One
TION OF A DIVIDEN D.
hereof, or t2; of default in the punctual payment, of the
S ec. 12. The Reading Company will not, in any year, pay principal of any of said bonds; or (3) o f default for six
dividends upon its stock, either common or preferred, until months in the payment o f any tax. assessment or other
it shall deliver to the Trustee a statement under its corpor governmental charge lawfully imposed after written notice
ate seal showing the amount o f anthracite coal mined, from thereof from the Trustee or from holders of 5 per cent in
lands owned by the Coal Company and mortgaged here amount of the bonds hereby secured; or <4) of default for
under, during the year next preceding, and simultaneously six months in the due performance of any other covenant
shall pay to the Trustee a sum equal to five cents per ton on herein contained, after like written notice; then, in every
all such coal mined, if the aggregate o f dividends so declared such case the Trustee, personally or by its agent, may enter
shall exceed such sum, and otherwise such lesser sum as upon all or any part of the railways, lands and franchises
shall be equal to the aggregate of dividends so declared.
hereby conveyed, and operate the same. Thereafter the
A P P L IC A T IO N
OF SINKING FUND INCOM E.—TH E B O N D i Trustee may, at the expense of the trust estate, maintain
H E R E B Y SECURED CANNOT BE CALLED.
and insure the rolling stock, tools and machinery and other
A ll sums so received by the Trustee shall by it be used in property to the same extent as is usual with railway com
purchasing bonds hereby secured in such manner as to it panies, and may make all necessary repairs and" useful
shall seem best, but not at a price exceeding par and accrued additions and improvements as to it may seem judicious.
interest except with the approval o f the Reading Company.
APPLICATION BY TRUSTEE
01- PROCEEDS FROM OPERATING TUB
Any unapplied balance shall be invested in securities in
PROPERTY.
which savings banks at such times shall be authorized under
After deducting the expenses of operating said railways,
the laws of New York to invest their funds, such securities and of all renewals, additions, betterments and improve
to be held by the Trustee as a part of the trust estate here ments, and all taxes, assessments and prior charges, includ
under. The Trustee may from time to time, in its discre ing any interest paid on bonds prior in lien to those secured
tion and with the consent of the Reading Company, dispose hereby, as well as compensation for its own sen-ices, the
of any securities so purchased and re-in vest the proceeds in Trustee shall apply the income o f the railway as follows:
similar manner. xUi bonds hereby secured, when so pur
In case the principal o f the bonds hereby secured shall not h a v e
chased by the Trustee, shall be canceled.
becom e due, to the paym ent o f the interest r-m aiutug in d efau lt in
the order o f the m aturity o f the instalm ents o f such interest, with
ARTICLE THREE.
TREATM EN T OF BONDS AND STOCKS PLEDG ED .
Se c . >. Unless the Companies shall be in default in the
due performance o f some covenant of this indenture, they
shall be entitled to receive all interest paid and dividends
declared in respect of any bonds or stocks pledged with the
Trustee.
S e c . 2. All sums paid on account of the principal of any
bond pledged with the Trustee hereunder or of any shares
of stock [in case of liquidation] (unless applied as in sec
tion 5 of this article provided) shall be received b y the
Trustee and shall be used as part of the proceeds o f property
released under Article Six hereof.
interest.thereon at the rate o f * per cen t per annum; such paym ents
to be made ratably to the persons or parties entitled thereto, w ithout
discrim ination or preference.
In case the principal o f the bon ds hereby secured shall have becom e
due by declaration or otherwise, first to tile paym ent o f the accrued
interest (with interest thereon at the rate Of 4 per c nt per annum) in
the order o f the m aturity of the instalm ents thereof, and n e x t to the
paym ent o f the p rin cipal o f all bonds hereby secured,
in every
instance such paym ents shall be m ade ratably to the persons or
parties entitled to such p aym ent, w ithout any discrim ination.
The Trustee shall also in such case exercise the right to
vote on all shares of stock pledged hereunder, and, for the
benefit of the holders of bonds hereby secured, shall receive
all interest moneys and dividends payable upon all pledged
bonds and stocks. If a Receiver shall have been appointed,
COAL C O M P A N Y .MAY G U A R A N T E E O R ISSUE BONDS SU B JE C T T O T H IS tlie Trustee, in its discretion, may turn over the interest
M O R T G A G E AN D M A T I-L iiU G E A N Y C O A L A C T U A L L Y M IX E D .
moneys so collected to such Receiver, and may co-operate
Sec, 3. Unless the companies shall be in default they shall with the Receiver in operating the system in such manner
have the right to vote upon all shares o f stock pledged here as tfie Trustee shall deem best for the bonds hereby secured.
under for all purposes not inconsistent with the provisions
DE FA U LT F O R STX MONTHS IN TH E PAYM ENT OF
of this indenture; it being expressly understood that prox UPON
INTEREST, TH E TRUSTEE, ON REQUEST OF A M A JO R IT Y
ies may be given to enable the Reading Company to vote
OF THE BONDS, SH A LL D E CLARE THE P R IN C IP A L DUE.
upon all shares of stock o f the Coal Company pledged here
Sec. 3. In case of default for six months in the payment
under, (1), for the issue or guaranty o f bonds by the Coal
Company, or to enable the Coal Company to join with the of any interest on any bond hereby secured, then, upon the
Reacting* Company in the creation of mortgages or other written request of the holders of a majority in amount
liens, subordinate*to the lien hereof, upon property of the of the bonds then outstanding, the Trustee, by notice m
Coal Company; or (3) to enable the Coal Company to bor writing delivered to th’e Railway Company, shall declare the
row money, and to secure the re-payment thereof by a pledge principal of all bonds hereby secured to be due and payable
immediately. But if subsequently all arrears of interest,
o f its coal when actually mined.
with interest at the rate of 4 per cent per annum on overdue
m U llM B U
R E A D IN G R A IL W A Y M A I
A L T E R E X IS T IN G LEASES
instalments of interest, shall either be paid by the Railway
AN D MAY MA KE N E W LEASES UN LESS T H E T R U S T E E O B JE C T S.
Company or be collected out of the mortgaged premises be
The Reading Company may also vote upon all shares o f fore any sale o f the mortgaged premises, then the holders of
stock of the Philadelphia & Reading Railway Co. (1) to a majority in amount, o f the bonds hereby secured then out
enable said Railway Company to altep any existing lease, standing, by written notice to the Railway Company and to
or ;2) to make a new lease o f * property covered by any ex the Trustee, may waive such default and its consequences.
isting lease, or to lease additional lines o f raihvay or other
property, unless in the opinion of the Trustee such altera UPON DEFAULT FOR SIX MONTHS TH E TRUSTEE MAY SELL
TH E PROPERTY AT AUCTION OR INSTITUTE F O R E
tion, or such new lease is clearly prejudicial to the trust.
CLOSURE OR O TH ER SUITS.
R EGISTRATION OF BONDS PLEDGED—D E FA U LT ON SAME.
Sec. 4. In case o f default, made and continued as speci
S ec. 4, The Trustee may cause to be registered in its fied m Section 2 of this article, the Trustee f a ) may sell to
name as Trustee all coupon bonds pledged with it here the highest and best bidder, all and singular t he mortgaged
under, or to cause' the same to be exchanged for regis property and premises, bonds and stocks, franchises and
tered bonds, or to be stamped “ Not negotiable; held by appurtenances, in two separate lots, the first lot to be
Central Trust Company of New York, as Trustee, under the the property herein granted by the Reading Company,
mortgage of Reading Company and the Philadelphia & and the second, all the property herein granted by the Coal
Company. ITovided, however, that it a sale thereof in par
Reading Coal & Iron Company, dated January 5th, 1897.”
SEC.
In case o f default in the payment o f the princi cels shall be required under the provisions o f Section (i of
pal or interest o f any mortgage bonds at any time pledged this Article, such sale may be made in parcels as in said
hereunder, then, in any such case, the Trustee, upon the Section provided. Said sales shall be made at public auction
written remiest of the Railway Company, sliall cause proper in Philadelphia, or at such other place, and at such time anti
Ma k c h 27
i»S)7.]
THE
CHRONICLE
upon such terms as the Trustee may fix in the notice of sale
to be given as herein provided. Or f'bj the Trustee may pro
ceed to protect the rights of bondholders under this inden
ture. by suits in equity or at law. whether for the foreclosure
of this indenture, or for the enforcement of any other
appropriate legal or equitable remedy, as the Trustee, being
advised by counsel learned in the law, shall deem most
effectual.
(517
REMEDIES CUMULATIVE.
Sec. 18. Except, as herein expressly provided to the con
trary, no remedy herein conferred is exclusive of any other
remedy, but every such remedy shall be in addition to every
other remedy existing at law or in equity or by statute.
BONDS AND COUPONS M AY BE USED IN SETTLEMENT.
Sec. 19. At any sale hereunder the purchasers in making
payment shall be entitled to turn in any bonds and any ma
TRUSTEE MUST TA K E ACTION W HEN REQUESTED B Y 25 tured and unpaid coupons hereby secured, estimating the
PER CE ST IN INTEREST OF TH E BONDHOLDERS.
value of such bonds and coupons at the sum payable out of
Upon the written request of the holders of 25 per cent in the net proceeds of such sale to the holders thereof as their
amount of the bonds hereby secured, it shall be the duty of ratable share of such net proceeds.
the Trustee, when indemnified as hereinafter provided, to NO D E L A Y SHALL IM PA IR RIGHTS ARISING FROM DEFAULT*
enforce the rights of the bondholders as aforesaid.
Sec. 20. No delay to exercise any right arising from any
HOLDERS OF 75 P E R CENT OF TH E OUTSTANDING BONDS default shall be construed to be a waiver of any such default.
SH A LL H A V E THE R IG H T TO DIRECT TH E METHODS
OF FORECLOSURE AND OTHER PROCEEDINGS.
Sec. 5. The holders o f 75 per cent in amount of
the
bonds hereby secured and then outstanding, in case of any
subsisting default, shall have the right to direct and control
the method and place of conducting all proceedings for any
sale of the premises, or for the foreclosure of this indenture,
or for the appointment of a receiver, or of any other pro
ceedings hereunder.
PROVISIONS R E G A R D IN G A N Y SALE.
S ecs . 6 to 12. The property shall be sold as provided in
REORGANIZATION WITHOUT FORECLOSURE.—FOUR-FIFTHS
OF THE BONDS MAY AUTHORIZE THE CREATION
OF PRIOR LIENS.
Sec. 21. In case o f anj' default hereunder, if, in order to
preserve the franchises of the companies, or either of them,
and to avoid a sale hereunder, any plan of reorganization
shall be proposed with provisions for the modification of this
mortgage, so far as to authorize the creation of new liens
superior to the lien hereof, then and in every such case regis
tered holders of four-fifths in amount of all outstanding
bonds hereby secured, by writing, may direct the Trustee, in
behalf of all the holders of all bonds issued hereunder, to
acquiesce in the provisions of such plan. But no bond here
by secured and then outstanding shall be changed as to
amount or date of payment of principal or rate or dates of
payment of interest.
ARTICLE FIVE.
Section 4 of this Article in two separate lots, including lands,
railroads, stocks, bonds, etc., unless the holders of a majority
in amount of the bonds hereby secured then outstanding
shall, in writing, request the Trustee to cause one or both of
said two lots to be sold in parcels, in which case the sale
thereof shall be made in such parcels as may be requested.
Notice of any sale shall be given once in each week for
PROOF OF REQUESTS OF BONDHOLDERS.
four successive weeks prior to such sale in a newspaper pub
This article provides methods of proving the execution of
lished in New York, N. Y ., and in Philadelphia, Pa.
requests and other instruments by bondholders and of the
The proceeds of any such sale shall be applied as follows : ownership of bonds by persons executing the same.
First—To the paym ent o f the expenses o f such sale, Including a
ARTICLE SIX.
reasonable com pensation to the Trustee, and o f all expenses incurred
in managing the property, and all taxes or prior lieos, except those to
w hich such sale shall have been m ade subject.
Second—To the paym ent o f the w hole am ount then ow ing upon the
bonds hereby secured for principal and iuterest, with interest at the
rate oi 4 per ceut per anuum on the overdue instalments o f interest.
In case such proceeds shall he iusutlicient to pay in full the whole
am ouut so due, then to the paym ent o f such principal and iuterest,
w ithout preference or priority o f principal over interest, or o f iuterest
ov er principal, or o f any instalm ent o f interest over any other instal
ment of interest, ratably, to the aggregate o f such principal and inter
est; su bject, how ever, to the provisions of Section 1 o f this article.
TH E TRUSTEE M AY RECOVER JUDGMENT ON B E H A LF OF
A L L TH E BONDHOLDERS.
Sec. 13. In case of default in the payment of principal or
interest when due, the companies covenant on demand to
pay the full amount so owing, with interest thereon at 4 per
cent, and in case of failure so to do the Trustee shall be en
titled to recover judgment.
COM PANIES W AIVE A L L RIGHTS UNDER EXTENSION, VALU
A TIO N AND REDEM PTION LAWS.
Sec. 14. The Companies will not take advantage of any
stay or extension, valuation or redemption law now or at
any time hereafter in force, and they will not hinder the
execution of any power herein granted to the Trustee.
R E C E IV E R
M AY
BE APPOIN TED ON COMMENCEMENT
JU D IC IA L PR O lE ED tN G S.
OF
S ec. 15. Upon commencement of any judicial proceedings
to enforce any right of the bondholders under this indenture,
the Trustee shall be entitled to exercise the right of entry
herein conferred, and to secure the appointment of a
Receiver of the premises, with such powers as the Court
shall confer; but notwithstanding the appointment of any
Receiver, the Trustee shall bs entitled, as pledgee, to con
tinue to retain possession and control of the stocks, bonds,
cash and other property pledged hereunder.
P R IO R TO DE FA U LT TH E COMPANIES M AY SURRENDER
POSSESSION TO TH E TRUSTEE.
Sec. 16. Each of the companies whenever deemed expe
dient for the better security of such bonds, although (here
be then no default, may, with the consent of the Trus
tee, surrender to the Trustee full possession of the whole or
any part of the property, premises and interests hereby con
veyed, for any period, fixed or indefinite. The Trustee shall
thereupon manage the property in accordance with the pro
visions of this indenture, and shall apply the income thereof
as provided in section 2 of this article. Upon application of
the Trustee, and with consent of either Company, a Receiver
may be appointed to take possession of that company’s prop
erty, with all the rights and duties by this section conferred
upon the Trustee.
REQUEST OF 25 PE R CENT OF THE BONDS NECESSARY TO
REQUIRE ACTION H EREUNDER,
Sec. 17. No holder o f any bond or coupon shall have the
right to institute any action in equity or at law for the fore
closure of this indenture or for the appointment of a receiver
or for any other remedy hereunder unless the holders of 25
per cent in amount of the bonds hereby secured and then out
standing shall have made written request of the Trustee, and
shall have afforded it reasonable opportunity to exercise the
powers hereinbefore granted; it being intended that no
holders of bonds or coupons shall enforce any right hereun
der except in the manner herein provided, and for the equal
benefit of all holders of such outstanding bonds and coupons.
RELEASE OF PROPERTY FROM LIEN HEREOF.
Upon the written request of the Companies, approved by
resolution o f their respective Boards of Directors or Execu
tive Committees, but subject to the limitations in this
Section prescribed, the Trustee, in its discretion, may release,
in order that it may be sold, any part of the mortgaged
premises, excepting (1) the bonds (other than bonds of the
Schuylkill Navigation Co.) mentioned in Subdivision Fourth
of the granting clauses of this indenture, (2) the shares of
stock mentioned under I. and II. of Subdivision Fifth of
said granting clauses and (3) any bonds and shares
hereafter pledged hereunder.
It is especially agreed
by the parties hereto that the bonds of the Schuylkill
Navigation Company pledged hereunder may be so released.
The proceeds of property sold may be applied as required by
any mortgage securing any of said outstanding old bonds.
So far as such proceeds shall not be disposed of pursuant to
any such requirement, they shall be applied, either (1) to the
purchase of bonds hereby secured in the same manner as is
provided in Section 13 of Article Two h ereof; or (2), with
the approval o f the Trustee, to the purchase of other prop
erty, real or personal, which shall be conveyed in trust by
the Companies to the Trustee, subject to this mortgage.
If, however, in any one year, the Trustee shall be called
upon to release property of the Coal Company representing
in excess of an aggregate consideration of §50,000. the Trustee
shall first obtain the opinion of an expert verified before
a notary public, (1) that the property for which the release
is asked is no longer desirable for the purpose of maintaining,
operating ar d developing the coal business of the Coal Com
pany, either at the present or in the future ; and (2) that
without such property said coal business, both present and
future, can be maintained, operated and developed with sub
stantially equal efficiency and economy.
The Companies will in all cases state in writing to the
Trustee the full consideration paid by the purchasers, if
such full consideration be not recited in the deed of release.
ARTICLE SEVEN.
TRUSTEE MAY REQUIRE INDEMNITY'.
Sec. 1. The Trustee shall not be under any obligation to
take any action hereunder likely to involve expense unless
the bondholde s shall furnish it reasonable indemnity.
TRUSTEE MAY' BE REMOVED B y HOLDERS OF 75 PE R CENtT
IN AMOUNT OF THE BONDS.
Sec. 2. The Trustee may be removed at any time by an in
strument in writing signed by three-quarters in amount of
the hold rs of the bonds then outstanding.
APPOINTMENT OF NEW TRUSTEE.
Sec. 3. A new Trustee may be appointed by the holders
of a majority in amount of the bonds hereby secured and
then outstanding by instruments in writing. The Com
panies, however, may appoint a Trustee to fill such vacancy
until a new Trustee shall be appointed by the bondholders,
or as hereinafter authorized. Notice of such appointment
by the Companies shall be advertised for six successive
weeks in New York and Philadelphia, and any new trustee
so appointed shall immediately be superseded by a trustee
appointed in the manner above provided by the bondholders
prior to the e piration of ninety days after such publication
of notice. In case no such appointment shall be made by
THE CHRONKJLEL
6 1 "
the bo. dhqlders wit hin ninety days, a new trustee, to super
sede the taste# appointed by the Companies, may be
appointed by any y ..ge o f the United States Circuit Court
for the Circuit , or hv any court o f competent jurisdiction
in the premises upon the application of one quarter in
amount of the bondholders. Every such trustee shall
always be a trust company in good standing, doing business
hi the City Of New York, and having a capital and surplus
aggregating at least $2,000,000.
ARTICLE EIGHT.
S O RECOURSE AGAIN ST STOCKHOLDERS OR OFFICERS.
No recourse under any agreement of this indenture shall
be had against any incorporator, stockholder, officer or
director of the Companies.
ARTICLE NINE.
PE AC E A B LE POSSESSION—RELEASE OF M ORTGAGE.
S ec . 1. The Companies shall have the right to retain pos
session of the mortgaged property until default.
S ec . 2. Upon paym ent o f all the bonds hereby secured the
m ortgage shall be released.
ARTICLE TEN.
A L L COVENANTS H E R E IN TO BIND EACH OF T H E COMPANIES
SE V E R A L L Y AND RESPECTIVELY.
S bc 1. A ll the covenants herein shall bind each o f the com
panies severally and respectively and their and each o f their
successors and assigns, w hether so expressed or not.
CONSOLIDATIONS PERM ITTED.
Sec . 2. This section authorizes consolidations, m erger or
sale o f the m ortgage premises o f either com pany as an en
tirety w ith , or to, any other corporation, provided that the
transaction shall not* im pair the lien o f this indenture, and
that the successor corporation shall assume the bonds and
the due and punctual perform ance and observance o f all the
covenants o f this indenture.
E IG H T OF SUCCESSOR CORPORATION TO ISSUE BONDS
HEREU N DER.
Sec . 3. In case either o f the companies shall be consoli
dated or merged with any other corporation or its property
be sold subject to this indenture, the successor corporation
upon executing an indenture satisfactory to the Trustee, as
suming said bonds and the performance o f all the covenants
and conditions of this indenture, shall be substituted for
that of one of the companies to whose rights it shall have
succeeded, and thereupon it may issue, either in its own
name or in the name of the said company, any or all of such
bonds which shall not theretofore have been delivered sub
ject to all the restrictions herein prescribed.
L is e s o r Ro a r Ow
iV o l .
ned
Miles
Miles
106-52
101-41
441*70
459 0
140*89
93*70
29*10
180*24
7*M
1*45
18*83
StseonA
v a°-f
B
a#, fmck.
.
M ain H?*©—F ro m P ort Rifjhm om l nml
W illow Street whisrf, riiilnduIpW ii,
via E M n k t o m l Carbon, near
Puits*villfL P m, , find hranolMfiS.,, — ....
f L ebanon V a lley—ftaailiug to H arrisbur*?, Pa
...
.....
..................... .
Lebanon & Tfim o 1tt— Lobtmo» to
I Bnwfoslde, P a ,.. . . . . . -------* M fthaaoy & Sb&motetn. itml Spurs—
■ 4 MithaiCy C ity to PC T re v e rto n , Pa. )
is New Castle t o M fthanoy Plain, Pa.. $
- M t . Carbon—M t. Carbon to Mt. Latfee
5 an d W uilesville, P a ........................ ...
« S chuylkill & 8 11Yij a eh an nil—Ho ek vi Ile
£ t o A u burn. P a ......................................
i P o r t K en n ed y—P o r t K e n n e d y to
Lima Kilns, P a ........................................
W e s t Read tag—R e a d in g to W e s t
Reading, Pa........ ............
L k lV ,
53*49
O3-70
VP'
1*30
2*17
5*25
2*00
1*00
M oselem —L e e s p o r t t o Quarry. P a ......
T o ta l ow ned*;..
R oads Leased .
177-8°
1*34*03
20‘20
79*62
Tet m of Least
Phtltt. G erraant’n & N orrlst’ n R B .~ t Dee. L 1870,
Phila. to NorrisCn & G erraanCn, Pa..
fo r 000 yrs.
P ly m o u th R a ilro a d —C on sh oh oek en to D ee. 1. 387“ ,
O rleand, Pn
C olebrookda le R a ilro a d —P o tts to w n to $ Jan. l, 1870, \
B arm Pa..
I f o r 2 0 ,5
East P en n sylva n ia R R .—R ea din g t o l M ay 1.1889, t
A llen tow n , P a ........................... .............. t fo r 999 yrs, s
S ch u ylkill V a lley A N avtgaiton & R R .— i July 25.1861, >
P alo A lt o to R eevesd ale, P a .........
( f o r 999 vrs. \
Mill Creek & M in e llill N nv. Sc R R . and <July 25.1801, >
branches—P a lo A lt o to N. Gas? le. Pa. > fo r 999 yrs. \
M t. C arbon A P ort C arbon K R —Mt, <M ch . 5, I8 6 0 .)
Carbon to P a lo A l t o ...................
— i \ f o r 50 vrs. i
No. P en n sylva n ia R R . and bran ch es— s M ay 1.1879, >
Philadelphia to B etd leh em . P a ....... . < f o r 900 yrs. >
D elaw are & B ou nd B rook R R .—Y ard i
, 1(W. f
ley, P a , to B o u n d B rook, R . J „ and T
branch to T re n to n , N .J ....
j tu r Odoyrs. j
P ick erm a V a lle y R R .—P h oenix^ 'ille L* i, Sept. 1,1871 ,)
B yers Station, P a .
................... .. j > fo r 29 yrs. i
P h iladelph ia & C h ester B ran ch R R .— d u l y 3.1873, >
P h iladelph ia to Eclclystone, P a .. ........ i fo r 999 yr^ i
S chuylkill & L e b le h H ti.-H ij.-h s F a rm : ( May 1. IKSI. i
to SlatinKton, P a ................................. . i ( fo r 909 yrs. i
Sham okiu Sunb. & L e w isb ’g R R .—Car d u l y 2,1881, ?
bon Run June, to W .M ilto n J une.. Pa. ) l o r 999 vrs, s
PhU adelp’a Flarrisb’g A P itts b ’e R R — \ O ct. 15.1890, i
H arrisburg t o Ship pens bit w . P a .
/ fo r 999 yrs. i
P h itadeluhia &
■Read"g Term inal R R .— i M ay L 1891, i
H'airmouiit A v e , to B roa d St., Ph l a . . j ( fo r 909 yrs. v
A lle n t'n T*- rm ’l R R .—JuneCri in H an- i J ’lv J/i, 3889, >
o v e r T o w n sh ip t o A lle n t’n. Pa., e t c . J < f o r 999 yrs. s'
R o a d s R e - l e a s e j ) in 1896-U7.
M ine
R R ,—hr d a n . 8V
81. 0 7 , >
‘ Mill
“ &
“ *Schuylkill
“ "*
........H
~ aven —
f Sehuylk, H a v . t o T rem on t, Pa., el c
i f o r 999 yrs 1 :
Catawlssa R a ilroad—T a m a n e n d to T l Dee 1. '90, i
TW iillarasport, Pa.,, e tc
............ .
) f o r 999 yrs.
Li (tie Schuylkill NCiv. RR . & Coal— T i D ec. 1 j fid )
I P o r t C lin ton t o Y am anend, P a .......
( f o r 999 yrs. s
Ch estn ut H ill R R .— G erm an tow n t > s ....... ...........)
^Chestnut HO 1, P a .. ...........................
- ................ .... ]
tT o t a l le a s e d . . . . . . . . . . . . . . ---------
75*57
03-38
....
Mm s
m at
Track,
.... . . . . .
TGrancl total ow n ed an d Jeaced.............
.
............ .
20*50
12*23
8-0C
15*00
12*91
35*.i.
18-23
71*08
10 21
5*14
20*07
6*62
3*8
29*40
pm
2*5
10*13
80-22
54*50
217*17
30-81
27*00
73*14
11 30
12*49
9-80
15*00
10-24
-11*00
31*28
14*80
50*48
45 58
1-3*
58*08
1-30
5*68
3*33
3 33
5i*80
27*00
154*10
00 50
11*90
160-00
54*80
28-10
4*03
4*00
547-52
180-41
1,118-08
364*30
2 052*71
T Supplied; n o t in m ortg age.
OTHER PROPERTY' CONVEYED AND TO RE CURVES ED.
The essential provisions o f the mortgage of the Philadel
phia <jt Reading Railway Company, the deed of trust referred
to in the above abstract, are given below. It will be partic
ularly noted tliat the total* issue of bonds is limited to
$30,000,000, including the $20,000,000 already- deposited as
part security for the above-described bonds of the Reading
Company,
The remaining $10,000,000 can be issued
only to the Reading Company to reimburse it for one-half
the cost of future extensions, terminal properties, roiling
stock, etc., at not exceeding 81,500,000 yearly. As the Rail
w ay Company did not directly join in the" Reading (Com
pany's mortgage (though it could have done so, if shell a
course had been thought preferable), it (the Railway Com
pany) creates this separate mortgage, which provides that
all bonds secured by it shall go to the Reading Company, and
the Reading Company’- deposits all such bonds under its
mortgage.
Also all the right, title, estate, interest, property and fran chises in and to any and all other lines o f railway, exten
sion and branches, now owned, leased or held by the Rail
way Company or in which it has any- interest wheresoever,
wherever located, although not particularly decribed in
this indenture.
Including all stations, docks, and fixtures, all lands
designed for depots, etc., all locomotives and other rolling
stock, and all leaseholds and agreements, and all other
property, real or personal, now or hereafter acquired
by the Railway Company for use upon, or in connection
with, such lines of railway; also all rights, privileges and
franchises, tolls and other income of such lines o f railway
or any such leasehold:
Including, also, all property sold to the Railway Company
by Charles H. Coster and Francis Lynde Stetson, in
their deed dated Nov. 10, 1896 ; and also all stocks, bonds,
certificates of indebtedness, claims and other property of
every name and nature now owned or hereafter acquired by
the Railway Company which by any provision o f this
PHILADELPHIA & READING RAILWAY CO. indenture it is required to deposit with the Trustee.
ARTICLE ONE.
A B STR A C T OF M ORTGAGE DATED NOV. IS, 18SXi, SECURING
$30,000,000 OF 0 P E R CENT BONDS,
Or W
h i c h $ 2 0 ,0 0 0 ,0 0 0 H a v e B e e n D e p o s i t e d a s S e c u r i t y f o r
P ftBCF.I-HNt.i M o i m s A O E , A N D $ 1 0 ,0 0 0 ,0 0 0 W X l.I, B E SO D E P O S IT E D
W h e n I s s u e d [ a t n o t o v e r $ 1 ,5 0 0 ,0 0 0 P e r A n n u m ]
e o r I m p r o v e m e n t s , E x t e n s i o n s , E t c ., a t n o t
E x c e e d in g O n e - H a l f t iib C o st T h e r e o f .
ISSUE OF BONDS LIM ITE D TO $30,000,000.
S ec . 1, The aggregate principal sum outstanding under
this indenture at any one time shall never exceed .$30,000,000,
BONDS FO r V i O,OOO,OO0 ISSUED FOKTHWITH.
Sec . 2. One bond for the principal, sum of $30,000,000,
immediately upon the execute on hereof, shall be delivered
PARTIES.
to Charles H. Coster and Francis Lynde Stetson. [This
The P hjladelhia & R eading R a il w a y C o ., party o f the bond lias been deposited as p a r t security for the bonds of
first part, and the C entral T rust C o . o f New- Y ork , the the Reading Company as a b o v e stated.—E d s .]
Trustee, party o f the second part.
R EM AIN IN G $10,000,000 OF BONDS ISSUABLE ONLY TO R E
pream ble.
W h e r e a s , the directors and stockholders of the Railway
Company have duly authorized the making of this mortgage,
to secure a $20,000,000 6 per cent gold bond, dated Nov-. 18,
1898, and payable. Jan. t, 1897, to be given in payment for
its property, and also additional bonds for the aggregate
principal sum of $10,000,000, with like interest, to lie used in
part payment for new acquisitions, construction and better
ments.
P R O PE R TY CON VEYED AS SECU RITY.
Now, t h e r e f o r e , this indenture witnesseth. that in order
to secure equally and proportionately the said bonds the
Railway Company hereby conveys to the Trustee all its
estate, right, title and interest in and to the following prop
erty, railroads and franchises, viz.:
IM BURSE TH E BEADING COM PANY FOR ONE-H ALF THE
COST OF FUTURE EXTENSIONS, ADDITIONS, ETC.,
A T NOT EXCEEDING $1,500,000 Y E A R L Y .
Sec . 3. The remaining $10,000,000 o f said bonds shall be
reserved to be certified by the Trustee when called for by
resolution by the Board of Directors as next hereinafter pro
vided, but only to reimburse the Reading Company for onehalf o f the amount o f the advances by it theretofore actually
made subsequent- to Jan. 1. 1807, with the approval of the
Railway Company, for the following purposes, viz.:
For the construction or acquisition after Jan. 1st, 1897, of
branch linf.s, extensions, terminal properties, rolling stock
or other additional property ; or for the consiniction of: bet
terments subsequent to said date; all such construction or
betterments, or property acquired, to be appurtenant to lines
of railway, branches or terminal properties of the Railway
M a r c h 27, 1897.J
THE
CHRONICLE.
619
'Company, subject to the lien of this indenture, or appur
tenant to one or more of the leasehold estates hereinabove
specifically granted hereunder, whether now held or here
after acquired ; it being intended that such branch lines,
extensions or terminal properties, or other new property, may
be constructed or acquired by and in the name of the Rail
way Company, or by or for account of any lessor of any of
the said leasehold estates specifically granted hereunder.
indebtedness taken up or acquired by means of advances
from the Reading Company reimbursed to it partly by means
of the said bonds; and also the written opinion of counsel of
the Railway Company to the effect that such instruments
and conveyances are sufficient for that purpose, or that no
additional instrument or conveyance is necessary.
[The remaining provisions of the mortgage are of little or
no public interest, as the bonds are merely to be deposited
as security for the other loan. It may be said, however,
STRINGENT PROVISIONS AS TO ISSUE OF SAID $10,000,000
OF BONDS.
that in case o f default for six months, the rights conferred
T h e b o n d s r e s e r v e d u n d e r t h i s S e c t io n 3 ( A r t i c l e upon the Trustee and the bondholders to foreclose or take
One), shall be certified by the Trustee and delivered to the other action are substantially the same as in the Reading
Company’s mortgage above.—E d s .]
Railway Company as follows, and not otherwise, viz.:
(1) Such bonds shall be delivered by the Trustee upon
t e . —Coal and iron Company's Mortgages.—The amounts and dates
resolution of the Board of Directors of the Railway Company, ofNmo aturity
o f tbe several land m ortgages and real estate bonds of the
certified by its Secretary or Assistant Secretary, and stating Philadelphia & Reading Coal & Iron Co., which are referred to in the
m
ortgage
o
f
the Reading Company above, are as follows:
that such bonds are to be used only for the purposes author
LAN D M ORTG AGES.
ized by this Section.
(2) In each calendar year after Dec. 31, 1896, there shall
I Lands Mortgaged’ to Bonds OutLoans.
be delivered such amount, not exceeding $1,500,000 par
Due.
Secure Bonds.
standing
value of such bonds, as from time to time shall be called
for in such resolutions (the bonds to be in sums of $1,000 or
I 5 Putnam iron o r e )
$204,000 June 1, 1884
such multiples thereof as the Railway Company shall West P oint (N. Y .).. *| l lands.................. 5
require); but in every instance, before delivering the same, Farquhar.................... ' (R a u d e n b u s h & )
110,000 Nov. 1, 1888
l Struphauer tracts 3
the Trustee shall require the Railway Company to furnish, Tamaqua, e t c ............* Tamaqua,
etc.............
3.147.000 Jan. 1, 1897
in addition to such resolution of the Board, the verified Munson <fe Williams. Munson & Williams..
800,000 Feb. 1, 1897
203.000 March 1, 1897
certificate or certificates of some person or persons, stating Glenw orth.................. Glentworth tract.......
Swatara, e tc .............. Swatara, etc...............
1.918.000 April 1, 1897
as of his or their own knowledge:
Van Reed & Lessig.. Big Schall tr a c t ........
39.000 May 1, 1897
(a ) that t in bonds are to be used to reimburse the R eading Com
pany as above provided for not more than one-hal f o f the amount of
its advances, specifically indicating every acquisition or construction
o f any railroad, track, structure, betterm ent, rolling stock or other
property, for which the advances shall have been made, which acquisi
tion or construction in every instance shall either be actually owned by
the Railway Company, or shall then be connected with the leasehold
estates above specified in the granting clauses o f this indenture. Such
certificates also shall state in detail the am ount o f bonds to be applied
in reim bursing the Reading Company for each and every such pur
pose, and whether such acquisition or construction w as by or in the
name o f the Railw ay Company, or was by or for accou n t o f any
lessor as herein authorized; and also that neither any advance by the
Reading Company nor any acquisition* construction or expenditure in
such certificate stated has been included or allow ed fo r in any previous certificate :
( b ) that no part o “ the sums so advanced on account o f any o f said
leasehold estates can be collected in m oney from the lessor thereof,
under the terms o f the lease thereof.
(c) that the price to be paid in such bonds, to reimburse the Reading
Com pany for its advance for such construction or acquisition, does not
exceed one h a lf o f the fair v »lu e o f such w ork done or property acquired,
estim ating such bonds at the fair market pric* which, a-» nearly as may
be at the time o f determ ining such price, the Reading Company shall
have realized for its ow n 4 per cent general m ortgage bonds now about
to be crea ted ;
( d ) that the bonds delivered to the R ailw ay Com pany pursuant to
the resolution last preceding have been actually delivered to the Read
in g Company;
( e ) In case o f the acquisition hereunder o f any new property, every
such verified certificate shall also state whether the property so ac
quired is subject to any lien, or c 'a r g e o r ownership, prior to this
indenture, other than outstanding old bonds now existing on the prop
erty o f the Railway Company.
NEW PROPERTY ACQUIRED IN ANY ONE YEAR SHALL NOT BE SUBJECT
TO LIENS EXCEEDING $2,000,000.
(3)
The Railway Company shall not by use of any such
bonds reserved under this Section reimburse the Reading
Company for any advances by it made in any one year to
enable the Railway Company to acquire or to construct new
property, if such new property shall be subject to any
ownership prior to this indenture, or to any lien or charge
prior hereto which shall in the aggregate exceed $2,000,000.
BONDS
M U ST
BE
RESERVED
F O R L IE N S O X P R O l'ilR T I E S
A C Q U IR E D .
H EREAFTER
(4i There shall be reserved out of the bonds set apart
under this section an amount at par equivalent to the cer
tified liens, charges or indebtedness existing on the property
so acquired by the Reading Company; and the bonds so
reserved shall be taken from the $1,500,000 bonds und°r
this Section deliverable in such calendar year, or in the
next two succeeding calendar years, as may be agreed
between the Railway Campany and the Trustee. The
bonds so reserved shall be delivered only to acquire
such certified liens, charges or indebtedness in amounts
equivalent at least to the par amount of the bonds
delivered therefor, and all the liens, charges or indebted
ness so retired or acquired shall be canceled, or, if practi
cable, shall be assigned to the Trustee.
OFFICERS MUST FIRE WRITTEN' STATEMENT AS TO PROPER
A PPLIC A TIO N OF BONDS.
(5) Every such verified certificate, unless signed f a ) by
the President or one of the Vice-Presidents, and fb ) by the
Comptroller, or Auditor, or Treasurer, of the Railway Com
pany, shall be accompanied by a written statement of one
of the officers first-above designated and also one of the
officers second-above designated, that they believe such
certificate to be true, and that no part of the expenditures
therein certified represents ordinary maintenance of the
railway or other property owned, leased or in any way con
trolled by the Railway Company, or replacements or other
purposes ordinarily treated by railroad companies as a part
of their operating expenses.
Together with such statements and verified certificates,
there shall be delivered to the Trustee such further instru
ments and conveyances (except in respect of additions to
property in which a leasehold estate is hereinabove
granted hereunder) as may be necessary to vest in the
Trustee, so far as practicable, all new property so acquired,
and, so far as may be, any and all other lie n s , charges or
Forbes & Delano etc. Various.......................
Mt.Carmel Locust >
Mt. Carmel................. 3
t Mount. Coal Co. 3
Joseph Jeanes.......... iMinersville esta te...
D ale............................. [Diamond tra ct..........
H a m m ett................... |Me Meal tra ct.............
Hughes........................ Hartman & M yer___
; 3 Houtz & Myer & )
C. T ow er.
1£ K in n ear............ 3
F i s h i n g Creek >
S. H uston.................. I 5
l Imp. Co............. 3
H elfenstein............... Helfenstein tra ct—
A lii............................... [Big Pond F urnace...
Hartman & M yer___ Hartman & Myer ...
H art Lea el a l.......... ICoal Hill estate........
K em ble....................... [Gunkle & Branham ..
Big M ountain............ Big Mount. Imp. C o..
Ja ck son ...................... tMe Neal tra ct..............
Isaac M ay................... R iokafeller tra ct___
R iehle.......................... Ely & Riehle t r a c t ...
V alley F urnace......... V alley Furnace estate
A lbriebt...................... Western real estate..
Chandler.................... Salem Coal Co............
L i t t l e Schuylkill ) Tamaqua Co...............
N avigation..........3
Leonard Reed............ Leonard Reed tract..
K rau se........................ [Summit lands............
739.000
325.000
136.000
26.000
104.000
13.000
231.000
460.000 Nov. 1,
408.000 Nov. 1,
91.000 Nov. 1,
20.000 Dec. 1,
61,000 Jan. 1,
15.000 Jan. 1,
111.000 Jan. 1,
44.000 Feb. 1,
_33,000 May 1,
160;000[May 16,
1,240,000[ July 1,
296,000, March 1,
150.000 April 1,
152.000 Oct. 1,
24,500 March 1,
357,000 April 1,
Total...... ........ . . . I ............... ...................... $11,617,500
na
aj
is 1 a t b
1897
1897
1897
1897
1898
1898
1898
1898
1898
1898
1899
1902
1902
1902
1903
1904
1884-1904
bo n d s.
Loans.
Real Estate Bonds.
V arious.......................
Locust Dale Coal Co.
Beclitelsville Iron Co
Amanda G rim ..........
Mary Fislier /low er.
Various.......................
Locust Dale estate...
Becktelsville furnace
Porter Twp. property
Lacy lot, Potr?y’Je,Pa
T o t a l....................
June 1, 1897
July 1, 1897
July 6, 1897
J uly 6, 1897
Aug. 1, 1897
Sept. 2, 1897
Oot. 1, 1897
Bonds Out
standing.
Due.
Now due.
$211,739
156,000
jt. 1, 1886
58,000 OcL 10, 1888
7,000 July 11, 1900
367
A t death.
$433,106
ME X I C A N N O R T H E R N RAI LWAV CO M P A N Y
APPLICATION TO THE NEW YORK STOCK EXCHANGE
TO LIST THE CAPITAL STOCK.
New Y ork, March 5, 1897.
The Mexican Northern Railway Company was organized
in accordance with a concession granted by the Mexican
Government, bearing date of the 20th day of March, 1890,
and in pursuance of the provisions in Chapter 468 of the
Laws of 1881 of the State of New York, the articles of the
association being dated on the 24th day of June, 1890, and
the certificate of incorporation dated on the 26th day of
June, 1890, for ninety-nine years.
_
The line of the road is from Escaloti, on the Mexican Cen
tral Railway, in the State of Chihuahua, running in a gen
eral northeasterly direction 125 kilometers (equals 77‘67
miles), to Sierra Mojada, in the State of Coahuila, Republic
of Mexico.
Gauge of road, standard; rails, steel, 56 and 60 pounds.
Equipment: 7 locomotives, 2 combination passenger cars,
2 fiat cars, 2 caboose cars, 5 water cars. In addition, the
company operates 200 box cars belonging to the Mexican
Northern Roiling Stock Company, and the Mexican Central
Railway Company supplies such additional freight cars as
are needed for the traffic. The payments by the Mexican
Northern Road for use of the 200 cars furnished by the roll
ing stock company and the cars furnished by the Mexican
Central Railway Company mentioned, are entirely on a
mileage basis on rates of % and 6-10 cents per mile, and all
such payments are included in the statement of operating
expenses.
All repairs of cars which are made by us are done under
master car builders’ rules. The operating expense state
ments include all of our charges except interest and sinking
fund, which appear as separate items.
Statements showing locomotive and car kilometrage tor
past three years are furnished the committee.
620
1HJE CHRONICLE.
O ffic e r s o f t h e c o m p a n y a r e : R o b t . S, T o w n e , P r e s id e n t ;
G e o r g e F o s t e r P e a b o d y , F ir s t V i c e - P r e s i d e n t ; E d w a r d M .
S h e p a r d , S e c o n d V i c e - P r e s i d e n t ; A . F o s te r H i g g i n s , T r e a s
u r e r : C . J . X o n r s e , J r ., S e c r e t a r y a n d A u d it o r .
D ir e c t o r s : R o b t . S . T o w n e , A . R . M e y e r, A . F o s t e r H i g
g in s , W . F . B u m m e r , E d w a r d M . S h e p a r d , G e o r g e F o s t e r
P e a b o d y , X . W it h e r e d .
T h e S t a t e T r u s t C o m p a n y h a s b e e n a p p o in t e d r e g is t r a r o f
t h e s t o c k . S t o c k is t r a n s fe r r e d a t t h e g e n e r a l o ff ic e o f th e
c o m p a n y . 42 a n d 44 P in e S t r e e t , t h is c i t y . T h e r o a d w a s
o r ig in a lly b o n d e d f o r §1,6(10,000. I n M a r c h , 1895, t h e b o n d s
w e r e lis t e d o n t h e E x c h a n g e , a n d a t t h a t t i m e 184 h a d b e e n
p u r c h a s e d f o r th e s i n k i n g fu n d , l e a v i n g t h e a m o u n t o u t
s t a n d in g $1,470,000. S in c e t h a t d a t e 03 m o r e b o n d s h a v e
b e e n p u r c h a s e d f o r t h e s i n k i n g fu n d , m a k i n g t h e n u m b e r
n o w h e ld f o r t h a t f u n d 277, a n d l e a v i n g t h e v a lu e o f b o n d s
o u t s t a n d in g §1,888,000.
S t a t e m e n t s o f t h e y e a r l y e a r n in g s o f t h e r o a d f r o m t h e
b e g i n n i n g o f i t s o p e r a t io n u p t o J u n e 30, 1894, w e r e g iv e n in
t h e a p p lic a t i o n f o r l i s t in g t h e b o n d s , a n d a t t a c h e d h e r e t o
a r e s t a t e m e n t s f o r y e a r e n d i n g J u n e 30, 1895, a n d y e a r e n d
i n g J u n e 30, 1890; a ls o f o r s i x m o n t h s e n d i n g D e c e m b e r 31,
1896, a n d b a la n c e s h e e t o f t h a t d a t e . T h e fig u r e s i n a ll
s t a t e m e n t s a n d r e p o r t s h a v e b e e n r e d u c e d t o a g o l d b a s is .
S tatem ent i ok Y e .u i E nding J one 30, 1895.
(United States Currency.)
Gross earnings.......... .........................................................
$6(30.044 87
Operating expenses...................................................................... 317,402 03
[ V o l . L X IV ,
< & crm w ercta l
C OMME RC I A L
3£xm es.
EPI T OME
March 26,1897.
The proceedings in the House of Representatives on the
new tariff bid have been followed closely by the business
world. Discussion baa continued general over (he proposed
measure, and there appears to be more or less dissatisfaction
expressed with several of the schedules, not the least of
which has been the proposed duties on wool and woolen goods,
Little change has occurred in existing business conditions.
In the interior trade has been interrupted by bad weather
and floods, but at ibe ataboaid importers have been fairly
busy as a result of the prospective advance in the import
dudes. The decision of the Supreme Court that the agree
ment of the Trans-Missouri Freight Association was a viola
tion of (he Anti-Trust Law was something of a surprise, and it
has exercised considerable influence in finan d d circles.
European advices have reported the political situation as
more pacific, and this baa had a favorable influence.
Lard on the spot baa been in moderately active demand.
Shippers have been buyers and prices have ruled about, steady.
At the close, however, the market was weaker at 4'42J^c. for
prime Western, 4’20c. for prime Ciiy and 4’70c, for refined
$343,242 >4 for the Continent, Business in the local market for lard fu
7,525 24 tures has continued at a siandstill. At the West there has
M iscellaneous r eceip ts.......... ...................................................
S e t earnin gs........................................................................... $350,768 08 been a moderate specula1ion and at the close prices weakened
slightly under realizing sales.
F ixed ch arg es: 5% on gross earnings due
sinking fu nd.............................................................. $33,032 24
One year’s interest on bon ds........................ 99,600 00
F r id a y N ig h t ,
B A IL * CLOSING TRIORS OF LARD FUTURES
Bat.
Man
Tv.es.
Wat.
Thur
4 ’52
.0. 4 57
4 ’50
4 55
4-57
4-52
May.
$132,632 24
B etterm en ts: S e w construction and rolling
Pork
has
had
only
a
moderate
call,
but
prices
have
ad
s t o c k ......................... .......................................
2,274 72 134,906 96
vanced, closing steady at $9 00@$9 75 for mess, $9 750SIO 50
Surplus earnin gs....................................... .
$ 2 15,8 611 2 for family and $9 50@$)0 75 for short clear. Cut meats have
F r o m w h ic h
fo u r q u a r te r ly
d iv i d e n d s o f 1 p e r c e n t , been in fairly good demand at advancing prices, closing at
5}^@5%c. for pickled bellies, 12@10 lbs. average; 5}4@5%c.
a m o u n t in g t o $120,000, w ei-e p a id .
for pickled shoulders and 9@9J>|c. for pickled hams. Beef
Statem en t f o r Y e a r e n d in g J une 30, 1896.
has had a. moderate call from exporters atsteady pnees, closing
(United States Currency.)
Gross earnings.............................................
$763,870 98 at §7@$8 for mess, 87 50@$9 for packet, $9@$tl for family
Operating ex p en ses.................................................................
341,349 82 and $12 50@16 for exira India mess. Beef hams have been
firm but quiet, closing at $19 00@$19 50, Tallow has had
$422,521 16
M iscellaneous receip ts.......................................................................
12,57796a moderate sale and the price las held steady at 8%c. Oleostearine has been quiet but steady at 4%c. Lard srearine has
N et earnings.................................................................................... $435,099 12 been unchanged and dull at 4J^c. Cotton-seed oil has s Id in
F ix ed c lio rg e s : 5% on gross earnings due
moderate quantities to exporters but at slightly lower prices,
sinking fu n d ............... ....................................... $38,193 54
closing at, 20@20J^c. for prime crude and 23c. for prime yel
One year’ s interest on bon ds............................
99,600 00
low. Biitte r has been in demand and firm, closing at 10@
$137,793 54
19c. for creamery. Chet se bis had a fair sale at full values,
B etterm en ts: N ow construction and rolling
s t o c k .......................................................................
4,287 39 142,080 93 clcsing at 9@12^c. for >tate factory, full cream. F«-esh eggs
have further declined to 10c. for choice Western, closing with
Surplus earnings............................................
$293,018 19 demand moderately active.
F ro m w h ic h
fo u r q u a r t e r ly d i v i d e n d s o f 1 p e r c e n t ,
The market for coffee of Brazil growth has been flat. Busia m o u n t i n g t o $120,000, w e r e p a id .
ntss has continued extremely slow and prices have gradually
weakened, closing at 8}£o. for Ri >No. 7, The mild grades
STATEMENT FOR SIX MONTHS ENDING DECEMBER 31, 1896.
(United States C urrenoy).
have had a limited sale hue there has been free offerings and
G ross earni tigs..................
$296,338 60 the tone has been easy, closing at 15J-£@18%c. for good
O perating ex p e n se s...................................................................... 142,479 49 Cucuta and 25<®25J^e. for standard Java. The trading in-the
$153,859 11 market for contracts has hem quiet, and at the close prices
M iscellaneous r e ce ip ts....... . . ............................................................
8.868 63 weakened under increased offerings. Following were the
final at-king prices:
N et earn in gs.......... ....................................................
162,727 74
/ itred charges—
5
on gross earnings due sinking fn n d .........$14,816 93
Six months’ interest oil b o n d s ... ................... 49,800 00
April................. 8 - l io . I J u ly .................. 8-35o. I O ct.................... 8 ‘40o.
... 8 ’20e. A uk ....... ........... 8-40o. N o v .................. H'ACO.
M ay____
Ju ne.................. 8'30c, 1 Sept................... 8-40o I D ee.................... 8-40o.
Raw sugars have received increased atten ion and at the
close a fair business was transacted at firm prices, closing at
3 5 16c. for centrifugals 96 deg, test and 2 lo 16c. for musco
Surplus earnin gs...................................................
$97,178 74 vados 89-deg. test. Refined sugars have been quiet but steady.
F r o m w h i c h t w o q u a r t e r ly d iv i d e n d s o f 1 p e r c e n t , Teas have been in hotter demand and Arm
Kentucky tobacco has been in f:,ir request and firm. Sales
a m o u n t in g t o $60,000, h a v e b e e n p a id .
CONDENSED BALANCE SHEET, GENERAL LEDGER. DECEMBER 31. 1896 300 hhds. Seed leaf tobacco Ins had only a moderate call,
but prices have held firm. Sales for tin- week were 1,690
(United States Currency).
Assets.
Liabilities.
casts, as follows: 200 casts 1895 crop, X. E. Havana, 16@
Capital stock .............................................
$3,000,000 00 2214c.; 250 casts 1895 crop. Wis. Havana, 55^@10c ; 240 cases
M ortgage bond accou n t.............................
14(60,000 00
1894 crop, do., 8@0j£c.; 250 cas-s 1893 crop, do., 10@ l0^o.;
Cost o f road and eq u ip m e n t.................... $1,737,378 01
Sinking fu nd a ccou n t................................
300,690 92 200 cases 1895 crop, Zimmers, 16J^@ i7c.; 100 cases 1894 crop,
Sinking fund investm ent a ccou n t..........
277,000 00
do., 16c.; 150 casts 1895 cr p, Penn. Havana I2},£@18c.; 200
Cash................................................................
64,403 78
cases 1895 crop, Penn, seed, 11J^@12r.. a id 100 cases 1893
Material and su pp lies................................
25,153 26
A ccrued interest and coupons unpaid.
9,350 00crop, do., filler, 9J^c,: also 650 bub s Havana at 80o, to $1 10
A pproved v o u ch e rs..........................
57.276 20 in bond, and 450 bales Sumatra at 75c. to $2 in bond.
B etterm en ts..........................................
129.533 73
There has continued a quiet market for Straits lia and
Corporations and individuals...................
127,996 61
Sundry accoun ts..........................................
45,534 53 prices have weahenet in n spouse to easier foreign advices,
Invested surplus..........................................
225,000 00 o lo s iD g at13”3r@'3-30c. logot copper has had only a very
Stocks and bon ds.........................................
258,763 33
limited call, and the close was easy at 11-75,it 12c, for Like.
Loan a c c o u n t........................................
250,000 00
Proilt and loss a ccou n t..............................
313,314 61 Lead has been in «B8 active demurd and values have weak
ened slightly, closing at 3 ’37J^@3’42J^c. for domestic. Spelter
$5,740,690 99 $5,740,699 99 baS weakened slightly, closing dull at 4 l<f(3S4-20c. for d o
A p p lic a t i o n is h e r e b y m a d e f o r t h e l i s t i n g o n t h e N e w mestic. Pie iron has sold slowlyand the market laefcad tone,
Y o r k S t o c k E x c h a n g e o f t h e s t o c k o f t h e M e x ic a n N o r t h e r a closing at $10(812 for domestic.
Refined pi fcroleuni has been advanced, closing at 2-50c, in
R a ilw a y C o m p a n y , w h ic h c o n s is t s o f 80,000 s h a r e s o f t h e
p a r v a lu e o f §100 e a c h . $8,000,000.
V e r y r e s p e c t f u ll y ,
bbls., 4c. in bulk and 7o. in cast; naphtha dull at 61^c. Crude
certificates have been m gbeted. Credit balances have been
C. J . N O D R S E , J r ,,
advanced to 95c. Spirits turpentine has also advanced
S e c r e t a r y M e x ic a n N o r t h e r n R a ilw a y t o.
T h e C o m m it t e e o n S t o c k L i s t r e c o m m e n d e d t h a t t h e slkhtly, closing quiet but steady at 20J^@29%c. Rosins have
a b o v e - d e s c r i b e d $3,000,000 c a p i t a l s t o c k b e a d m it t e d t o been dull and without changes, closing at $i 65 fur common
and good strained. Hops have been dull and easier. Wool
t h e list.
has continued in detnat d and firm.
A d o p t e d b y t h e G o v e r n i n g C o m m it t e e , M a r c h 24, 1897.
Betterments—
N ew con stru ction ................................................
$61,016 93
932 07
65,849 00
March 27
fH E
ov7.j
C H R O N IC L E .
C O T T O N .
T h e Mo v e m en t
of th e
F r i d a y N i g h t , March 26, 1897
C r o p , as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening the total receipts have reached 61,''32 bales,
against 65,459 bales last week and 79,931 bales the previous
week, making the total receipts since the 1st of Sept., 1896,
6,256,877 bales, against 4,763,712 bales for the same period of
1895-6. showing an increase since Sep.l. 1896, of 1,494,165 bales.
R e c e ip ts a t—
S at.
G alveston.......
Tex. City, <fec.
New O rlean s...
M ob ile..... .........
F lorid a............
8 a va n n ah ........
M on.
T u es.
1.829
1,392
1,386
1,070
_____
1,266
3,025
986
......
749
W ed.
1,804
T h u rs.
F ri.
636
......
2,512
426
4,038
252
730
637
3,334
530
1,317
486
631
1,059
148
317
72
157
W ilm ington___
206
42
194
108
34
N orfolk............
N ewport N.,&o.
New Y ork .......
B o sto n ..............
B altim ore........
Philadelph’a,&c
607
......
497
469
......
364
150
......
55
235
......
142
44
......
257
395
.......
669
331
T ot’ls this week
8,128
7,208
6,172
Charleston___
896
9
94
8,155
T o ta l.
2,623
9,014
1,498
2,185
2,555 17,350
324
3.588
4,426
4,426
1,462
5,911
947
947
2,182
429
7,112
7,112
23
607
4
4
3,040
718
173
173
661
2,2 ?6
882
113
293
293
544
1,092
61,032
7,466 23,905
The following shows the week’s total receipts, the total since
Sept. 1,1896, and the atocE xo-nignt, compared with last year.
Receipts to
March 26
1896-97.
8tock
1895-96.
Since 8ep.
1, 1896.
This
Week.
This
Week.
G alve ston ...
9,014 1,293,854
107,009
T ex. C.,«feo.
2 ,185
New Orleans 17,350 1,921,733
273,811
M ob ile ..........
3,588
77,675
Florida.........
4 ,426
787,731
Bavannah. . .
5,911
Br’ wiek, <feo
146,261
947
391,184
Charleston..
2,182
65,722
P.Royal,<fec
7,112
232,031
Wilmington.
607
851
Wash’n,«feo.
4
Norfolk . . . .
3,040 *670,000
15,755
N’ portN.,&c.
173
New Y o rk ...
46,448
2,226
Boston.........
144,305
882
293
56,964
Baltim ore.. .
Phlladel.,<teo.
1,092
35,493
Since 8ep.
1, 1895.
10,241
859,182
1,326
101,784
25,940 1,605,581
1,532
185,243
4,400
29,7 3 9
692,432
8,330
576
111,296
2,224
267,778
70,0 1 7
5,531
1,145
160,231
3
756
6,500
297,655
1,495
161,290
45,546
296
92,706
5 ,329
45,493
438
840
35,983
1897.
1896
72,003
6,855
266,708
21,269
56,324
6,015
246,438
18,464
51,488
1,241
30,589
42,577
2.053
29,912
12.846
9,027
22,463
28,820
3,662
164,118
13,000
13,765
9,267
__
239,541
15,000
14,973
6 ,0 i 6
761,002
Totals ----- 61,032 6,256.677 76,237 4,7 6 2 ,7 1 2
* l a ,980 Pales added as ee.reocloa of receipts siuoe Sept. i .
643.942
In order that comparison may be made with other years, we
give below the totals at leading ports for six seasons.
| 1895.
1896.
1892.
1894.
1893.
Galves’n &c,
New Orleans
M o b ile .........
Savannah...
Chas’ton, Ac
Wiliu’ton.&c
N orfolk........
N. News, Ac.
%11 others..
11,199
17,350
3,588
5,911
9 ,294
611
3 ,010
173
9 ,866
11,563
25,910
1,532
8 ,330
7,753
1.148
6 ,590
1,495
11,379
16,165
4 5 ,2 4 4
5,054
13,658
2 ,274
1,932
9 ,472
5,004
16,667
4,869
21,023
2,631
5,473
928
• 635
3 ,075
1 ,670
4 ,963
9 ,677
24,632
1,372
9,067
2,094
366
4,063
1,478
9,8 LO
9,177
23,17 L
1,723
7,609
1,870
670
4,953
5,506
8,915
ot. this wk.
61,0 3 2
76,237
115,470
45,292
62.559
63,599
Reeexpts at—
1897
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York, which are prepared for our special use by Messrs.
ON SHIPBOARD, NOT CLEARED FOR—
March 26 a —
New Orleans...
Galveston.........
Savannah.........
Charleston . . . .
M obile...............
N orfolk.............
New York........
Other ports___
Week Ending Mch. 26, 1897.
Export*
Galveston..
Tex. City, Ac
New Orleans
Mobile........
Florida.........
Savannah .
Charleston.
Port Royal .
Wilmington
Norfolk....
N’port N’ ., Ac.
New York.
Boston...
BalMmore.
Philadelphia..
8. Fran., Ac....
Total
Exported to—
Exported to—
Continent.
11.123
2,118 2,118
926
V*26
24.640 35,063
4,426
4,426
5,286
5,285
7,105
804
l,16i
7,1ft.
357
8.685
8,2?h
l,Uo
1.100 10.925
8.2 8
1,902
305
500
40,279
Total, 1806-96. 61,800
1.902
305
600
703 806 180,632
729,943 371.076
131,744
67,323
48 263 15.341
88 408
78.339
63 *47
05.431
140.6.« 5.200
0.42"
25”.742 23.553
210.400
71,797 7,452
«.696
874
lota
265.465 1,149,903
20.763
20.763
512,536 1,613,555
23,402 168.236
62.725
5.402
333 204 306,808
98,371
9.963
1*1.711 260.050
03.8 7
104,803 200.234
35.832 181.686
0.627
2"0
153.0-0 435.295
2,061 212 46 i
53.599 132.848
9.146
4,0
40.451
48,577
1,110 37,175 78,694 2,700.684 603.254 1,751.058 5.055,100
7.500 45,118 114.503 1,792,159 429,237 1.501.619 3,723,015
Leaving
stock.
Coast
wise.
Total.
2.476
1,07 L
None.
500
None.
8,800
None.
None.
54,613
18,511
2,000
4,800
8,000
10,650
5,300
13,000
13,443
None.
None.
None.
None.
None
900
None.
27,244
G,485
2,000
4,300
6,000
1,200
3,100
4,000
Total 1897
35,357
14,341
54,329
12,847
116,874
644,128
Total 1896
Total 1 8 9 5 ...
52,015
59,481
9,343
16,849
65,240
87,814
11,928
23,986
138,526
188,130
* 505,416
736,436
212,095
53,492
49,488
25,769
13,269
11,813
234,241
43,961
Early in the week there was an exceptionally dull specu
lation in the market for co' ton futures. Subsequently, how
ever, the trading became more active. The course of prices
has been somewhat irregular and the close showed no im
portant changes from the quotations of a week ago. Satur
day there was a dull market and prices eased off 2 to 3 points
in sympathy with weaker foreign advices. There continued
a dull market on Mondiy, but prices advanced slightly in
response to firm-r foreign advices. A small movement of the
crop and th- improved political situation in Europe stimu
lated some buying and the close was at an advance of 1 to 2
points for the day. The market Tuesday was dull and easier.
Advices from the English markets were sligh ly weaker,
and with the absence of speculat ve intr rest prices gradu
ally sagged, closing 1 to 2 points lower for the diy.
The opening o ' the mark t on Wednesday was steady.
Later in the day, however, ad vie s were received
fr m the South stating that th ■ wors' of the floods
in the Mississippi Valley were apparen ly over. Subse
quent v came reports of firancial difficulties; this prompted
liquidation by tired holders and prices weakened, closing at
a decline of 8 to 9 points. There was a further decline of 7
to 10 points in prices duiing ea rly’Chang- on Thursday.
Toward the close, however, wnen it became known that sales
had been made in the local market of 4,50’J bales to home
spinners, there was a general rush on the p,rt of operators to
buy and prices advanced sharply, closing 3 to 5 points higher
for the day. To-day the market opened a f a decline of 3 to 5
pom s. under disappointing foreign advices. Towards the
olos-, however, on a report of a break m a levee on the Mis
sissippi River below Arkansas Ci y and the estimated small
supply o f cotton coming into sight for ihe week, the market
raided and the close was steady, with prices 1 point lower to
1 point higher for the day. Cotto i on >he spot was quiet
early in th- week and on Wednesday prices were lowered
l-16c. Thursday a large business was transacted with
spinners at steady values. To-day the market was fairly
active and firm, middling uplands closing at 7 5-16c.
The total sales for forward delivery for the week are
411,700 bales. For immediate delivery the total sales foot
up this week 9,280 bales, including 2,539 for export, 8,741
for consum ption,-----for speculation and ------ on contract.
The following are the official quotations for each day of the
past week— da'ch 2 >to M uch 26
On the basis of the rates on and off middling as established
by the Revision Committee, the prices for a few of the
grades would be as follows:_______________________________ _
d lo u l u e s
W ed
XU.
F r i.
If PLANUS.
S a l.
Good O rdinary........... ................
Low Middling..............................
Middling......................................
Good Middling........ .................
Middling Fair.............................
63s
7
738
711-f
8*4
7%
7H „
8h
S at.
W on l u e s W e d
Th,
F r i.
6^8
6 »,„
73 6
7" 6
7?e
87,6
M on T u e s W ed
6»i«
73 6
7 9i
7 7e
87 «
69.8
73.8
7»18
77S
87.8
T il.
F r i.
GULF.
6%
6=8
7 >4
714
7%
7=8
7 1Bi< 715,6
8*0
8 k:
Good Ordinary ........................
Low M iddling.............................
M idd lin g.....................................
Good Middling............................
Middling Fair.......................
From Sept 1, 1896, to Mch .20 1897
Great
Conti■ Totai
Great
Brit'n. France nmt. Week. Britain. France
Great
Other
Britain. France. Foreign
11,452
10,955
None.
None.
2,000
650
1,300
9,000
Since Sept. 1 6 2 56.377 4 7 62,712 7227,018 5467,956 4566,567 6512.111
The exports for the week ending this evening reach a tote I
of 78,534 bales, of which 40,278 were to Great Britain, 1,140
to France and 37,175 to the rest of the Continent. Below arr
the exports for the wvek and since September 1, 1896.
621
STAINED.
S a t.
Low Middling..............................
M iddling......................................
Strict M iddling...........................
Good Middling ringed. .. —
618
7
7bS2
738
market
75<2
73s
and
6%
74
7^8
71-in
8ks
618
6%
6*16 65 „
6i*>ie 615 „
7* 6 75 6
75f
75*
83 * 8S,0
6%
7
7%
7 *16
SH
7
7*32
73g
61,6
«'I6
6 5lfi 6loie
73.,
7332
76,
7*16
65,8
615jb
7°s
8 ha
6116
6 5ie
7332
75i«
sales.
1'he total sales of cotton on the spot and for future delivery
each day during the week are indicated in the following
statement. For the convenience of the reader we also add
i* column which shows at a glance how the market closed on
wme days.
SALES OF SPOT AND CONTRACT.
SPOT MARKET
CLOSED.
Quiet ... ..........
Sat’day .
Monday.
Tuesday
Wed’ day
Hi ’ day..
Friday..
Quiet .............
Quiet at i]6 dec.
Steady
.........
F irm ........... ......
Total..
.............................
F.rport.
Oon- Spec- Con
sump. uVVn tract.
1,860
479
200
192
80
152
231
4,689
1,397
2,539
6,741
. ..
....
Totrl.
Sales o f
Futures.
192
1,940
631
431
4,689
1,397
27,200
32,400
31,400
113,400
134,500
72,800
9,280
41 1 ,7 0 0
« © <e
ft-d A
> S «H '
« n ^ oocouv
„
-X
0 % £ £
RSSRgfS
t> H <M
|> CM
2 -2 5
Movement to March 26, 1897.
Tieceipts
Shipm’ ls Stock
This
Since
This
Mc/i. 26.
week. Sept. 1,’96. week
T ow n s.
O
CM
2 g “ Ji
£ d 3 -
O O O O O f f-
® cooow ®
w o o o IO.O) <o
CO
©CO
^SggSgS
.s lg j
0 1 © 0 © © -^ r -‘
“ *<£«*?jn irjco cd©
s - a 'l .g
CM
® r-M
SOOOOOO C
-O O C O o O O C
***
H
«*C4
0-1
|j m P »
2 rS CO
Q*o3co
OOOCOOO© O
CO © © © © M O 'S ?
r ctaTo&tf c i^ o e io io r <
t'&r-id
©CO
© 0 0 © < M -# * 0 — -
_o g g o w q q q c w v <
N -fr 1 '
CO
**
Z
t fS S
r * r o .-^ © i>
•S*$S
| § a s o “ S 2 w-"<
•3 * c o « S o | ’& o
5 bi*-ri-.S■•-5J «e8-*C
e rt
S 22 »
I
Q
* 8 § S o 5-5!> ■ § S .
3
. S t i S ^ 5 - S S S S 3
i
5
L' =l 3f o^
-3 f
g S3
® o
>'
j
agsg« ® 3dln§
■ © <*_,
g S a t & a ^ 'f l
5ogM _a5 ® S
■ l;* s
§
ItfU llliflflg
I33 22S 2
<30ODOQCDS3S
3
Market, F r ie d and
S a id o f
FVTV RB 8,
Saturday, Midi. 20
Sales, to ta l... . . . .
Pricoa paid (range)
Oloalng...............
fe
o
S5
nr.
gs
4>
&* M
-
O
O.
ll
I I
si
h
x>
gll—
£<_3IZ - » c*r'^
. . <0 e> >
O
* »*
CS J3
*> »
- ©
0 1__
° . 03
®
— ~ 4>
2 efiSH m
. 3 -a ° 8
« _ , i S rd
£ « ° <*
3 ® w^j
fe c o .g s
i ®Wm5 i3'4wS « oE ° SjSsSsa-2 ^ -
O
«
a
a
2
» .s
“I
5
Monday, Mcti, 22Salea, total........
Prteea paid (range)
Oloalng....................
T u e s d a y , Jf(sh . 2 3 —
Sale*, total..............
Prloee paid (range)
OloBlng....................
f^ g y g
Market,
Range and
Total S aid.
Easier.
2 7 ,2 0 0
6 - 7 5 - » 7 -1 7
Steady.
Firmer,
3 2 .4 0 0
0 - 7 7 « 7 -1 9
Steady.
i
aOOa oai l -i gr ^SoEf ea fisa
4i O fl
D A IR Y
March.
A pril.
^ , f l © <H
s . » § ?
h g
© «4"-4 lW
^ gisii
May.
June.
g a g
§®3§
« u
PRIO RS A N D
July.
g g
5 &8
SALES
August.
T otal, 31 tow n s..........
21
15,346
125,350
84
68,328
270
50,391
1,137
82,795
23
32,353
187
54,533
252
120,980
271,84 8
2,008
18,5
44,270
147
00,580
341
61,239
71
6,192
290
100,155
34,064
307
200
55,557
177
39,096
148
62,841
462
79,409
67
56,900
4,459
484,557
254
21,632
178
24,188
4,902
267,60 i
308
31,471
189
15,493
535,973
1,981
413
24,646
555
5*2,245
37
51,557
5,600 1,273,596
359
25,598 4,213,192
194
2,189
206
364
1,955
136
510
925
3,423
929
513
178
111
1,748
355
. 500
250
756
1,765
446
6,610
254
98
6,279
940
4,732
3,578
3,089
5,433
2,349
655
10,282
29,712
4,220
4,189
2,002
410
13,113
1,072
8,000
2,332
4,940
10,276
5,195
43,773
50
11,829
295
721
40
6,208
244
38,699
779
1,354
84
20,980
303
20
650
102
500
136
704
1,320
1,619
9,229
181
259
6,956
912
93
10,236
203
500
77
9,587
37,686 3,377,477
55,375
1,730
7
303
384
3,374
151
72
349
138
531
201
100
456
145
273
185
7,513
131
346
6,479
762
93
2,715
103
1,050
5,095
50,143 276,594
393
153
10,613
OF FUTURES FOR E A C H MONTH.
September.
October.
November.
December,
A r ’ge.. 7 02
600
7*02® —
7 * 0 3 - 7*03
7 * 0 1 - 7*02
87
1,031
381
1,695
0S2
8
464
303
3,222
16,120
115,304
34,335
48,901
93,196
26,639
49,122
88,020.
165,348
4 5,852
49,693
49,944
4,845
75,437
26,772
37,438
31,751
47,039
63,356
52,920
517,513
18,350
20,065
169,550
30,252
14,544
400,745
19,217
51,906
4.0,073
973,250
February.
067
7,007
3,055
3,398
21,443
2,198
7.771
10,836
22,707
6,408
4,846
2,973
435
9,591
720
8,000
2,782
5,646
11,94*2
11,709
59,985
50
2,330
6,784
1,399
55
306
98
2,359
473
S S S l?
fs s x d
January.
A v ’ge., 6-B9 A v ’ge.- 7*02 A v ’ ge.. 7*06 A v ’g e.- 7*10
500
2,200
500
8,500
700
7*05® 7*07 7*09® 7*12
7*02®
—
697®
2 - 7*03 7*06— 7*07 7 * 1 0 - 7*11 7*1470 07- * 07-02
E a s ie r .
A v’gO . 7*01
200
3 1 .4 0 0
6 - 7 7 * 7 -1 6 7*01® —
Steady.
S^<*
O T*S©
ri © C O *>
®
CW <H
®.r-CC0 OCM
i j|!|p|
fid
A lab am a .
Eufaula,
M ontgom ery
Solma,
ARKANSAS..
Helena,
I s i ’S T ittle Rook,
G eorgia .....
*f " i-S Alliany,
**
__
1 J® 41
Athens,
Atlanta,
1rj ^- 433 +3
S Augusta,
Si
“
a
©
Columhue,
<U , rri " 1 M acon,
u
> W 2
**
Rom e,
iis Lmiieville,?tc« E b n t d g k y .
s i " 4 Shreveport, t o o m ia n a .
Oolmnhus,
M ississippi .
I fiS
**
Greenville,*
ft
Meridian,
'*
Natchez,
•i ® 9 ^ U
Vicksburg,
o S o Yazoo City,
S*
B-S $ T 5 St. Louis,
M is so u r i . ..
M ® o °
N.C ar o lih a
Charlotte,
O t J O fcj
it
1Raleigh,
C incinnati, O h io ............
Columbia,
8. Ca r o m n a
a
G reenwood,
r t iy
M emphis,
T ennesrke ..
H
fl
“
...
N ashville,
ts o
T e x a s ..........
ga © o3
o, Branham,
{(
Dallas,
Eh p Jc! g H ouston,
**
...
© © ..-4
a
>0 M CC -»*■«* © kf5
Movement to March 27. 1896.
Receipts.
Bhipm'U Stock
This
Since
This
week. S epl.1/95. week. Mch. 27.
S
£
830
77,869
118
3,596
1,295
20,203
A v * g e .-------
i
1
£ o * ~ :i
S
^ 9%'gSZ» »s.2
Jii
be
§ g
o te f=-°- £
ZtltsZ Z
«
>>
*
■a
o -a a d ®
4S-W » ® £
c6 w,-*5 i.
© ^ 53^
Pu ® m b c ° O t^
oJ4 2
g © g-C
^ (*44
©J4 © £
r—< r**i OS
e© r-*—
S 43 -*
O O
S -| | S 5 6 5
s S a* g
» &
* ® U 3 4S> © H
SPS d
a)
o g J2
f s u f
ce c« ^
S sS & fis* s
fir. fe l a r - g l & o &.s
5
«
Q © ^paM 13
ri S
03 ,Jr
s § f i 5 S' fa ii rt gS3 d ’H
s H i-S g
S Ojg a a
s
? l.s 5
— % —
® .Q i i
Sc i i p
6*84— 6*86 S g £ ,S £ 5 5 “ P
o
®*|3 i
Se * = ^
A v 'g e ..--------
III!
— ® —
I uaa
6 * 8 4 - 0 86 ©S®44
200
v
s li-§ l* §
2 g if
— ® —
6 * 8 0 - 6*82
A v ’g e ..--------
Phi
• a " p tr o § * *
Es*
asag > - s
g !o &
0
* $
a
A
c3 P
d r. ©
s
a 2 "3 8 g ®
316,494
A v ’ge.. 7*16 A v 'g e .. 6*87 A v ’g e .. 6*76 A v ’g e .. 6*76 A v’g e.. 6*81 A v’ ge.. 6*85 A*V’£0.. -------P c
p l i
10,300
300
600
600
1,700
1,300
7*14® 7*17 6*87® 6*88 6*75® 6*77 6*77® 6*73 6*80® 6*82 6*84# 6*85 — ® - 6© o°
o f^ S
7 * 1 5 - 7*10 0 * 8 8 - 0*90 6 * 7 6 - 0*77 6*77— 6*78 6*81® 6*82 6 8 5 - 6*86 6*39— 6*91 O'*-*©
~
s
h » o w 3 50 5 ©
A v ’ge.. 7*04 A v ’ge.. 7*08 Av’ge.. 7*14
A v ’ge.. 7*17 A v ’ge.. 6*91 A v 'g e,. 0*77 A v ’g e .. 0*79 A v 'g e ,. 6*82 A v’ ge.. 6-85 A v’g e ..-----14.100
1,000
1.400
900
9,900
500
600
300
1.700
1.400
I p .l 3^3 S
— a 7*04 7*0(1® 7*09 7*1
.1® 7*13 7*16® 7*17 7*16® 7*19 6*90® 6*91 6*77® 6*78® 0*79 6*81® 6*84 0*S4» 6*86 — rd> 7 * 0 3 - 7*01 7 * 0 7 - 7*08 7*11- 7*12 7*15— 7*16 7 * 1 6 - 7*17 0 * 8 9 - 0*90 6*77— 6*78 6 * 7 8 - 6*79 0*81— 6*82 0*85— 6*87 6 * 8 9 - 6*91
h S
A v ’ge.. 7*02 A v ’g e.. 7*00 A v ’ge.. 7*10 Av’g e .. 7*1 A v ’ge,. 7*14 A v’g e.. 6*87 A v’ ge,. 6*77 A v 'g e .. 6*77 A v ’ge.. 6*80 A v ’g e ..------- A v 'g e .. ------- l 2 s
S S I 'S
1,900
400
"14,400
2,400
§ S S 'S s i e l
7,900
200
400
3,000
600
7*01® 7*04 7*05® 7 08 7*10® 7*11 7*12® 7-15 7*13 ® 7*16 fi*-7® C*S8 — ® 6*77 6*7*5® 6*78 6*79® 6*81 — w —
— -a —
7 * 0 1 - 7*02 7*05— 7*00 7-09- 7*10 7 * 1 3 - 7*11 7 * 1 4 - 7*15 6 * 8 8 - 0*89 6 * 7 6 - 6*77 6*77— 6*78 6*80— 6*81 6*84— 6*25 6 * 8 8 - 6*90
!,o w e r .
W edne«d'y,McH.24—
A v ’ge.. 0*99 A v ’ ge.. 6*98 A v ’ge.. 7*00 A v’ge.. 7*04 A v ’ge.. 7*08 A v ’ge.. 7*08 A v ’ge.. 6*80 A v ’g e .. 6*70 A v 'g e .. 6*68 t v ’ge.. 6*74 Av’ g e.. 6*84
1 1 3 ,1 0 0
Sa1«», total..............
49.100
5,400
700
7.400
34,700
5,500
200
1,800
1,700
7.000
300
Prices paid (range) 0*67'® 7 -1 5 0*95® 7*01 0*93® 7-02 6*90® 7*06 7*00a 7*io 7*04® 7*14 7*04® 7'15 — ■'& 6*80 6*67® 6*76 6*67® 6*70 0*7 1» 6*81 6*83® 6*84
ClOBtag...................
Steady.
0 * 9 3 - 6*94 6 * 9 3 - 6*94 0 * 9 7 - 6*98 7*01- 7*02 7 * 0 5 - 7*06 7 * 0 6 - 7*07 0 * 7 9 - 6*80 6 6 7 - 6*68 6 * 6 8 - 6*69 6 * 7 2 - 6*73 0 * 7 6 - 6*78
Thursday, Mob. 2 5 A v’ge.. 6*92 A v ’g e .. 6*91 A v ’ge.. 6*97 A v’ge,. 6*99 A v ’ ge.. 7*05 A v’g e., 7*00 A v ’ ge.. 6*76 A v’ g e .: 6*69 A v ’ge.. 6*71 A v'ge.. 6*72 A v 'g e.. 6*78
Firmer.
Bales, total.............
1 3 4 ,5 0 0
5,200
1.300
2,700
53,000
18,900
40,100
1,100
3.400
0,600
0,700
900
’ Prices paid (range) 0 - 0 5 ® 7 -1 2 6*90 a rt*»3 6*87® 0*97 6*92® 7*03 6*97® 7-06 7*01® 7*11 7*01® 7*12 6*75® 6*86 6*65® 6*72 6*66® 0-74 6*69® 6*76 6*76® 6*80
J Cloalng....................
Firm.
0 * 9 6 - (1*87 0 * 9 0 - 6*97 7*02— 7 0 3 7 * 0 6 - 7*07 7 * 1 0 - 7*11 7*11— 7*12 0 * 8 4 - 6*86 6 * 7 1 - 6*73 6 * 7 3 - 0 74 0 * 7 6 - 0*77 6*80— 6*82
[•Ylday, Moll, 2 0 A v ’ ge.. 6*93 A v ’ ge.. 6*92 A v ’ge.. 7*00 A v ’ge.. 7*07 A v’ ge.. 7 09 A v 'g e .. 7*09 A v ’ge.. 6*84 A v 'g e .. 6*72 A v’ ge.. 6*72 A v’ ge.. 6*75 A v’ge,. 6*77
Steady.
Sales, total..............
6,000
1.300
712,800
26.100
6,200
700
26,400
1,400
500
2,200
1,900
100
Prices paid (range) 6 - 7 0 ® 7 -1 3 0'92® 0*94 6*91® 0 9*7 0*97a 7*03 7*07® 7*08 7*00® 7*12 7*06® 7*13 6*81 ft 6*86 6*72® 6*73 6*70® 6*74 6*73 ® 6*78 6*77® —
Steady.
C losing....................
6*05— 6*97 0 * 9 5 - 0*97 7 * 0 1 - 7*02 7*05- 7*07 7*1 f l 7*11— —
6*85— 6*86 6 * 7 1 - 6*72 6 * 7 3 - —
0 * 7 0 - 6*77 0 * 8 0 - 6*82
[Total sales tills week
20,000
4 1 1 ,7 0 0 "
165,800
4,200"
28,OOO
14,800
129,300
3,700
7.300
12,000
22,000
4,000
A verage price, week
0**98
7*03
7*08
0*98
7*11
7*12
6*84
6*73
0*74
6*77
6*82
Sales since Sep.1
24.0XS.400 6,264,100
329.200
4.252.200
563,000
1.043.100
54,200
103.100
385.000
212,500
176.400
6,600
•m
11
.M z -=
; j! s !
sa c*S
i l le 2
.
^^
t> a P a
■13
■*4.
o d g 3
« & o s i cU>
«
2 («
Oroi-j-e
§£§5^5
THE
M a r c h 27, 1897.]
Quotations
fob
Middling Cotton
at
CHRONICLE.
Other Markets .—
Below are closing quotations of middling cotton at Southern
and other principal cotton markets for each day of the week.
Week ending
March 26.
G alveston. .
New Orleans
Mobile . . . . . .
Savannah...
Charleston..
Wilmington,
N o rfo lk ........
B o sto n .........
B altim ore. .
Philadelphia
Augusta.......
Memphis___
8 t. Louis___
H ouston___
Cincinnati..
L ou isville...
CLOSING QUOTATIONS FOB MIDDLING COTTON ON —
Satur.
Mon.
Tuts.
7 1,6
6 l£>ia
6 l»la
7 'ia
6i»xe
6 ‘ £>i6
615x8
7
7%
73s
7%
7=8
7>«a31e
615x8
7
7 ! 18
7 ie
7
7
7%
7%
73g
7^8
758®3l8
6i»ie
7
7118
713
7
7^8
7
015le
7
7>e
7%
738
7=8
th e
t>16ie
7
71,8
7%
7
Wednes.
F ri
Thun.
7
7
615,0
t>ioi8
6%
t>loie
6 78
6 78
7
615x8
6%
6 7a
6 7g
7
7%
75x6
7
7H
75,8
75ie
79,8
7%
6 78
6 loi8
7
7^
7
7%
7%
733
79,8
718
6 78
7
71x8
7%
7
79x6
7*8
6 78
61518
7
718
7
The closing quotations to-day (Friday) at other important
Southern markets were as follows.
6%
A tla n ta _______
1E u fa u la ...........
6 78 N atchez.............
6*3 R aleigh .............
C h arlotte.......... 7
! Little R o o k ....
6%
M ontgom ery...
6 78 Selm a.................
Columbus, G a.
6 78 Shreveport.......
Columbus. Miss 63ig ! N ash v ille..........
Receipts from the P lantations .— The following
6 34
7
__
6 'm
table
Indicates the actual movement each week from the plantations.
The figures do not include overland receipts nor Southern
consumption; they are simply a statement of the weekly
movement from the plantations of that part of the crop which
Anally reaches the market through the outports.
Week
Feb. 19......
** 86.......
M ed 5......
“ 12......
“ 19......
“ 26. ...
Recei-pts at the Ports. St'k at Interior Tovms. Rec’ptsfrom PlanVns
1897.
1896.
1895.
1897.
1896.
1895.
1807.
1890.
1895.
84,394:
84,395
95.260
79,931
65,459
61,032
109,395
95,659
85,286
71,518
69,460
76,237
91,807
137,940
119,835
132,381
123,133
115,470
401,905
374,238
350,127
323,319
301,139
276.594
438,487
410,983
384,268
362,634
334,183
316.494
420,269
402,728
388,860
352,976
344,836
323,932
57.745
50,72*?
71,155
53,123
43,279
38,487
89,603
85,155
58,571
49,884
41,009
58,548
69.787
120 399
105,907
97,497
113,993
94,560
The above statement shows: 1.—That the total receipts
from the plantations since Sept. 1,1896, are 6,412,377 bales; in
1895-96 were 5,046,506 bales; in 1894-95 were 7,493,615 bales.
2.—That although the receipts at the outports the past weel.
were 81,033 bales, the actual movement from plantations waonly 36,487 bales, the balance being taken from the stocks ai
the interior towns. Last year the receipts from the plantation f
for the week were 5S,548 bales and for 1895 they wer
94,566 bales.
Overland Movement
for the
W eek
and
Since Sept. 1.—
W e give below a statement showing the overland movement
foi the week and since September 1. As the returns reach us
by telegraph late Friday night it is impossible to enter so
largely into detail as in our regular monthly report, but all
the principal matters of interest are given. This weekly
publication is of course supplementary to the more extended
monthly statements. The results for the week ending Mch. 25
and since Sept. 1 in the last two years are as follows.
1896-97.
March 26
Week.
Shipped—
Via St. L ou is....................................
Via Cairo.................... ......................
Via P arker.......................................
6,610
2,144
147
Via Louisville..................................
Via Cincinnati...............................
Via other routes, <Sto.....................
1,445
1,616
1,022
Total gross overland...............
Deduct shipment8—
Overland to N. Y ., boston, & o..
Between interior towns...............
Inland, &o., Irom South...............
Since
Sept. 1
1895-96.
Week.
Since
Sept. 1.
460,797
242,778
14,684
2,387
121,441
123,062
108,163
2,141
4,961
943
465,077
215,197
15,440
68
117,217
82,984
77,687
12,884 1,073,312
22,311
973,670
6,903
20
1,590
219,728
2,921
39,645
9,229
4,210
827
4,493
147
960
2 83,210
3,678
30,028
5,600
3X6,916
8,513
262,294
Leaving total net overland*..
75 6 ,3 9 6
7,284
* Including movem ent by rail to Canada.
13,798
711,376
Total to be deducted...............
The foregoing shows that the week’s net overland movement
this year has been 7,284 bales, against 13,793 bales for tbe
week in 1890, and that for the season to date the aggregate net
overland exhibits an increase over a year ago of 45.020 bales.
In Sight and Spinnersf
Takings.
Receipts at ports to Mch. 2 6 .........
Net overland to Mch. 2 6 .................
Southern consumption to Mch. 26
1896-97.
Week.
Since
Sept. 1.
61,032 6,256,877
7 56,396
7,284
6 03,000
18,000
1895-96.
Week.
Since
Sept. 1.
76,237 4,762,712
13,798 711,376
17,000 585,000
Total m arketed........................... 86,316 7 ,616,273 107,035 6,059,088
156,000 *17,689 283,794
Interior stocks in e x c e s s ............... *2 4 ,5 4 5
Came into sight during week.
Total In sight Mch. 2 6 .............
North’n spinners tak’gs to Mch. 26
* Decrease during week.
61,771
89,346
7,772,273
6,342,832
37,355 1,392,019
15,767 1,380,107
It will be seen by tbe above that there has come into sight
during the week 61,771 bales, against 89,346 bales for tbe
same week of 1896, and that the increase in amount in sigt t
to-night as compared with last year i* 1,429,351 bales.
623
W e a t h e r R e p o r t s b y T e l e g r a p h . - Our telegraphic ad
vices this evening indicate that farm work is backward over
the greater portion of the South, having been delayed by
continuous rains and the overflowing of streams. In Texas,
however, operations are better advanced than elsewhere,
but planting has been checked somewhat by threatening
weather. Light frost occurred in the interior of Texas on
Wednesday. The Mississippi River continues at a very high
stage and considerable land on the west bank is under
water. There have been no breaks on the east side and it is
believed the levees will hold. The river is falling slowly at
Memphis.
Galveston, Texas.—A. general frost occurred throughout
the interior of the State on the morning of the 24th, doing
slight damage to tender crops. Along the coast line no
frost was reported. Farm work is generally well advanced.
Planting has been checked by threatening weather, but
with favorable conditions will be rushed. We have had
rain on two days during the week, the rainfall reaching
seventy-nine hundredths of an inch. The thermometer has
ranged from 51 to 79, averaging 65.
Palestine, Texas.—Rain has put ground in good condition,
and crops are doing nicely. It has rained on two days of
the week, to the extent of eighty-five hundredths of an
inch. Average thermometer 62, highest 85 and lowest 38.
Huntsville, Texas.—We have had light rain on one day
during the week to the extent of ten hundredths of an inch.
The thermometer has averaged 59, the highest being 83 and
the lowest 35.
Dallas, 'lexos —White frost occurred on the 24th, probably
injurious on low lands, but damage has not yet been ascer
tained. Farm work is well advanced. We had no rain dur
ing the week. The thermometer has averaged 55, ranging
from 32 to 78.
San Antonio, Texas.—We have had rain on one clay of the
week, the precipitation reaching four hundredths of an inch.
Light frost on Wednesday. The thermometer has ranged
from 38 to 89, averaging 64.
Luling. Texas —It has rained lightly on one day of the
week, to the extent of six hundredths of an inch. Average
thermometer 61, highest 88 and lowest 34.
Columbia, Texas.—Rain has fallen on one day of the week,
the precipitation being fifty-five hundredths of an inch.
Light frost on the 24tii. The thermometer has averaged
60, the highest being 88 and the lowest 32.
Ouero. Texas.—The week’s rainfall has been twenty-five
hundredths of an inch on one day. The thermometer has
averaged 61, ranging from 34 to 88.
tSrei.ham. Texas.—Frost on the 24th. There has been rain
on one day of the past week, the precipitation being fiftytwo hundredths o f an inch. The thermometer has ranged
from 39 to 85, averaging 62.
Fort Worth, Texas.—W e have had light rain on one day
during the week, to the extent of one hundredth of an inch.
The thermometer has averaged 56, the highest being 78 and
the lowest 33.
Weatherford, Texas.—W e have had light rain on one day
during the week, to the extent of two hundredths of an inch.
The thermometer has averaged 56, ranging from 32 to 80.
New Orleans, Louisiana,—W e have had rain on four days
o f the past week, the rainfall reaching one inch and twentynine hundredths. Average thermometer 68.
Shrei'eport, Louisiana. There has been rain on three days
of the week, to the extent of one inch and ten hundredths.
The thermometer has ranged from 38 to 86, averaging 62.
Columbus, Mississippi.—Rain has fallen on three days of
the week, the precipitation being one inch and ninety-three
hundredths. The thermometer has averaged 58, the highest
being 80 and the lowest 36.
‘ eiand, Mississippi.—The week’s rainfall has been two
inches and thirty-four hundredths. The thermometer has
averaged 61'3, ranging from 38 to 82.
Vicksburg, Mississippi.—Planting operations are back
ward. We have had rain on one day of the past week to the
extent of forty-seven hundredths of an inch. The ther
mometer has ranged from 13 to 84, averaging 64.
Little Bock, Arkansas.—There has been rain on four days
during the week, the precipitation reaching one inch.
Average thermometer 59, highest 82 and lowest 44.
Helena. Arkansas. —Plowing is in progress on high lands.
The river is twenty-one inches above highest water mark
and rising, and will probably rise another foot. A bad over
flow on the west side to the Gulf is certain. There has been
rain on one day of the week to the extent of eleven hun
dredths of an inch. The thermometer has averaged 56'5,
the highest being 75 and the lowest 36.
Nashville, Tennessee.- Rain has fallen during the week,
the precipitation being two inches and sixteen hundredths.
The thermometer has ranged from 33 to 82, averaging 56.
Memphis. Tennessee.—Farm work is making pi'ogress.
Light frost this morning. The river is now 36'55 feet on
the gauge, which is ninety-five hundredths of a foot above
the extreme high-water mark of 1890. Rain lias fallen on
two days of the week, the rainfall being two inches and
fifty-four hundredths. Now clear and cool. Average ther
mometer 60’2, highest 79, lowest 39’9.
CHK CHRONICLE.
H2 l
Vfoltite. Alabama,— Heavy rains in the interior in the early
part of the week, but the latter portion has been clear.
Farm work has been considerably delayed by wet weather
and the overflowing of creeks and rivers'. W e have had rain
on four days of the week, the precipitation reaching one
inch and forty-three hundredths. The thermometer has
averaged 87, ranging from -18 to 79.
Montgomery, Alabama —The rivers are subsiding slowly.
It has rained on four days of the week, the rainfall reach
ing three inches and thirteen hundredths. The weather has
been cool and pleasant since Wednesday. The thermometer
has averaged 58, the highest being 04 and t he lowest 42.
M/.ulUtou, Florida, -Indications are that acreage will be
about the same as last season. Takings o f fertilizers are
likely also to be about on a par with 1896. There has been
rain "on three days of the week, to the extent of four inches
and sixty hundredths. The thermometer has ranged from
45 to 88,'averaging 65.
Savannah, '-teoruia. —It 1ms rained on five days of the
week, the rainfall reaching tw o inches and sixty-one hun
dredths. The thermometer has averaged 66, the highest be
ing 86 and the lowest 44
Augusta, Georain. Rain has fallen on three days o f the
week, the precipitation being one inch and fifty-six hun
dredths o f an inch.
The thermometer has averaged 65,
ranging from 40 to 87.
Statebura, -out I, <'arohna.—There has been rain, on four
days o f the week, to the extent of one inch and two hun
dredths. The thermometer has averaged 61 -6, the highest
being 88 and the. lowest 89.
Greenwood, South Carolina.—W e have had rain on one
day of the week, the rainfall reaohing twenty-seven hun
dredths of an inch. The thermometer has averaged 58,
ranging from 49 to 69.
Charleston, south C a rolin a. —W e have had rain on five
days o f the week, the rainfall reaching one inch and sixtyfour hundredths. Average thermometer 65, highest 86, low
est 45.
Wilson, North Carolina.—W e have had rain on one day of
the week, the precipitation reaching eighteen hundredths of
an inch. The thermometer has ranged from 88 to 84, aver
aging 64.
The following statement we have also received b y telegraph,
showing the height of the rivers at the points named at
8 o’clock March 2 >, 1897, and March 26, 1896,
|Vo,. LXI\
A l e x a n d r i a R e c e i p t s a n d S h i p m e n t s .— 'T hrough arrange nents we have made with Messrs. Davies, Bena chi & Co., o f
Liverpool and Alexandria, we now receive tt weekly cable o f
the movements of cotton at. Alexandria, Egypt. The following
are the receipts and shipments for the past week and for tin
corresponding week of the previous two years.
Alexandria, Bijypi
March 24
1896-97
1995-96
189- -95
70,000
5,326,000
50,000
5,051,000
40,000
4,431,000
keoelpts (oantars*)...*
This w e fik ..............
Since Sept. 1 ............
Exports (bales)—
To Liverpool
To nontinentl
This
Since
week. Sept. 1.
Thin
Since
week. Sept. 1.
ThU
Since
week. Sept. 1.
6,000 275.000
12,000 269.000
2,000 286,000
3,000 252,000
6,000 236.000
6,000 265.000
18,000 544,000 5,000 538,000 11,000 501,000
Fota) Europe
* A oantur ts 08 pounds.
1 Of which to America in 1396-97, 32,163 balea; la 1 8 9 5 -9 6 ,4 6 ,8 8 5
bales; ia 1894-95. 34,840 bales.
This statement shows that the receipts for the week ending
Mch. 24 were 70,000 oantars and the shipments to all Europe
18,000 bales.
M a n c h e s t e r M a r k e t . —Our report received by cable
to-night from Manchester states that the market is steady
for yams and quiet for shirtings, Manufactineis cannot sell.
We give the prices for to-day below and leave those for
previous weeks of this and last year for comparison:
1897.
1896
3H lbs. Shirt Ootfn
8% lb*. Shirt- Ootfn
32* Qop, inqs, common Mid. 32s 0 op. ings, common Mid.
Twist.
to finest
Upldx
to finest
Upld
s.
4
4
6-*4 7J>7
4
ats
73 , 4
6*16 ®7»I« 4
6% m h e 4
a,
Fb. 19
“ 26
Moll 5
■* 12
“ 19
“ 26
6%
a.
97
d.
s.
0 ©6
0>a * 6
1 i*6
Ohs-re
08s&e
0*3^6
d.
5 *2
6
7
7
7
7
d.
3%
4
a.
a.
6% 9 7 H
6% 9 7 %
329., 6 m ©7%
3 i5 .r.
97 %
4
6 83 ©7%
331 tg 6=9 9 7%
s.
4
4
4
1
4
4
d.
s.
34a©6
3 ®6
3
4 ©6
4 1s ® 6
4
d.
A.
4*a
7
6*9 4=ia32
7 • 4B
8
4%
8% 41*33
8% 4*8
8 e a I s l a n d C o t t o n M o v e m e n t . — We nave recetvea this
(Friday) evening by telegraph from the various ports the
details of the Sea Island cotton movement for the week. The
receipts for the week ending to-night (March 26) and since
Sept, 1, 1896, the stocks to-night, and the same items for the
itch, 25, -97. itch. 26, '96. corresponding periods o f 1895-96, are as follows.
Feet.
15 6
367
42-7
13’ 3
47*8
New O rleans-. ............ A bov e zero o f gauge
Mem p lu s . . . . . .
Nashville ___
A bove zero o f gauge
S h reveport...* ..............A bov e zero o f gauge
V ic k s b u r g ___ ............ A bov e zero o f gauge.
Feet.
8 ’5
19 8
2.4*8
12-5
21*4
1896-97*
Receipt# to M arch 26.
I n d i a C o t t o n M o v e m e n t F r o m a l l P o r t s .— The
receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to March 23.
b o m b a v aacBirrs a n d s h i p m e n t s f o b f o u r y e a b s .
Shipmen ts this week.
Shipment* since Sept. 1,
Tear (Jreat Conti
Great
BrtVm nen t. Total. Britain
96-7
95-8
’ 94-5
93-4
18.000 18,000
13,000 13.000
4,000 20,WO 30.000
OontinenL
Total.
16,000 800,000
39, 00 0i'378,000
3,000 117,000
36.0001346,000
316.000
417.000
120.000
382.000
Receipts
This
Week.
Since
Sept. 1.
59.000 914.000
79.000 1.297.000
59.000 597,0J'0
56.000 1.003.000
Tint
week
Since
Sept. l.
StOCA
181*7
<*• 6,
427
30
82,019
10,323
6,598
230
53
73,295 T 3.969
10,385 2,755
4.783 5,357
T otal........ *........*........
457
98,940
283
89,463 •22,580 11,040
8,252
2,270
518
The exports tor the week nnauig this evening reach a
total f 840 bales, of which 150 balea were to Great Britain,
190 to France and — to Re val, and the amount forwarded i o
Northern mills has been 818 bales. Below are the exports
for ti-e week and since September 1 ip 1896-97 and 1896-96,
Exports
from —
Total 1895-6
Shipments since Sept \
1895-96
S avan nah.........................
Charleston,
....... ........ *
According to the foregoing Bombay appears to show
a decrease compared with last year in the week’s receipts of S’v&nn’ li, &c
harrt’n*<feo
20,090 bales and an increase in shipments of 5,001) bales, and C
Fieri ha, & o.
the shipments since Sept. 1 show a decrease of 101,090 bales. New Y ork..
The movement at Calcutta. Madras and other India ports for Boston ...
the laBt reported week and since the 1st of September, for tw o PM In., &C.. .
rears, has been as follows. “ Other ports” cover Ceylon,
Total. . . .
Tutioorin. Kurrachee and Coconada.
Shipments fo r the week.
.Sinct
TMi
meek- Sept. I
Wmx Endinq Mch.26
Great
B rifn
....
150
.
... ...
Since Se.pt. 1, 1896
Fr'rtcf
Great
Total. B r ifn
&c.
190
........
340
—
Fiance
Total
<£C.
15,023
2,933
3,076 18,104
2,933
9,461
9,275
6 75
5,504 15,025
9,275
■ • ■ -ir
102
777
North* r w
Ween
s.
Sint
Sept. 5
601 24,927
217 1,693
6,598
-
150
190
340 37,372
8,742 46, LI 4
818 33,218
2*213
113
2,331 35,743
5,999 41,742
6 2 3 3 6 ,0 6 6
A considerable portion of the Sea Island cotton shipped to
Conti
Great
Great
foreign porta goes via New York, and some small amounts via
Total.
Tola,
B ritain. nent,
Britain. Continent.
Boston and Baltimore. Instead of including this cotton for
0aleott.fi
the week in which it leaves the Southern outports, we follow
1896-97*
5,000
28,00k the same plan as in our regular table o f including it when
23,000
1895-96.
7,000
4*000
23,000
actually exported from New York, &e, The details of the
M adras1896-07.,
6,000
14,000
20,000 Ahioraents of Sea Island cotton for the week will be found
1695-96...
14.000
t 1,000
25,000 under the head “ -flipping News,” on a subsequent page.
All otber«Quotations Mar.-h 26 at Savannah, for Floridaa, common,
1896-97.
4,000
4*000
7,000
18,000
65,00l 895-90.
18.000
30.1100
43tO0« 8c.; m-diutn fin % 10c.; oboio°. 18J^c.
•Oharleston. Oarolinas. medium tine, l~@17t£c,; fine, 18c.:
Total all—
fully tins, I9@20c : extra fine, 2)@30c.
1896-97,.
4.000
4,000
35,000
23,000
113.000
1895-96.
■a,...
64,000
30,000
100,000
.........
B a s t I n d i a G r o p . —From M essrs. Gaddum, B y th e ll & Co.’s
The above totals for the week show that the movement from c o tt o n report d a te d B om liv , Feb. 20, w e h a v e th e f o l l o w i n g :
The deaths from all causes this w eek are returned at 1,728, a d ecrease
the ports other than Bombay is 4,000 bales more than the same
f 183 com pared with tins p revious seven days. This Is a. step in the
week last year. For the whole of India, therefore, the total oright
direct! in, bat the death-roll m use still be considered as terribly
shipments since September l, 1896, and for the cox-responding heavy, when it. Is ratn-smbsrad tb it, t h e population o f Bombay is to-day
probably not: more than 101,000. V ery little business goes through on
periods of the tw o previous years, are as follows,
E X P O R T S T O E U R O P E F RO M
Bombay
....
All other ports
Total
1 8 9 6 -9 7 .
'N O IA
1 8 9 5 -9 o
1 8 9 4 -9 ,V
Since
Sept. 1.
n o
week.
1 8*0 00
4 .0 0 0
3 1 6 .0 0 0
1 1 3 .0 0 0
1 3 ,0 0 0
4 1 7 .0 0 0
10 0 ,0 9 0
3 .0 0 0
1 2 0 ,0 0 0
8 6 .9 0 0
2 2 ,0 0 0
4 2 9 ,0 0 0
1 3 ,0 0 0
5 17.0001
3 ,0 0 0
206
X jg
This
week.
jf £
Ship ifbemtt
irr all Europe
from —
\
This
week
Stan
Sept. 1
00
the O-it ton Green, for J ooa n buyers appear to be pausing now after
their recen t activity, whiis t local mills are stilL alm ost com pletely out
o f the market, and Europe an export houses are not taking more, than
very m oderate q u a n titie s ; still, rates keep wonderfully steady, in
spite o f the slack inquiry, add 1t is thought th at after the f l d i holi
days. com iner:dug on i9 th March, gontem ere o f the mills here w ill re
sume work, and that higher prices w ill then he established. As an in
dication o f the grow th o f the trade betw een B om bay arid the Further
East, It Is iatere tlu g to note that betw een January 1 and 18th Febru
ary this year the shipm ents o f cotton from here to ohina and Japan
amounted tb 87.000 hales, whilst during the same period Europe took
1)9,OuO bales, a difference o f only 12,000 hales in fa v or o f Europe.
TH E
March 27, 1897.]
< H R 0 N 1C LE.
H i g h W a t e r i n t h e M i s s i s s i p p i . — A s a result of the ex
tremely high stage of the water in the Mississippi River a
considerable territory of low land on the west bank, in Ar
kansas, has been overflowed. At some points in Arkansas
and Missouri the levees have given way, but at others the
water has flowed over the top. A dispatch from our Mem
phis correspondent, as we go to press, states that the river
there has fallen fifty-five hundredths of a foot since last Sun
day; that the crest of high water has passed that point, and
that there will from now on be a gradual decline, the water
running off in time for late planting. Our correspondent
further remarks that the danger now is to the country south
of Helena, where great damage is being done through broken
levees on the Arkansas side. The levees on the Mississippi
side will probably hold.
Exchanges.—The following exchanges have been made
during the week:
•01 pd. to exch. 100 Dee. tor Jan.
•27 pd. to exon. 100 Sept, for Aug.
•09 pd. to exed. 800 M ay tor Aug.
■10 pd. to exoh. 2,300 Nov. forSept.
•14 pd. to exch. 5 0 0 Apr. for Aug.
•08 pd. to exch. 1 ,800 Apr. for J’ne.
■04 pd. to exch. 4 0 0 Apr. for May.
•05 pd. to exch. 1 ,700 Apr. for May.
08 pd. to exoh. 4 ,6 0 0 May for July.
•01 pd. to exoh. 200 July for Aug.
•14 pd. to exoh. 200 Sept, for Apr.
•12 pd. to exch. 200 Apr. for July.
•30 pd. to exoh. 3 0 0 Oct. for May.
C o m p a r a t iv e Ro s t
•13 pd. to exoh. 100 Apr. for Aug.
■15 pd.to exoh. 6 ,9 0 0 Apr. for Aug
•16 pd. to exoh, 209 Apr. for Aug.
•10 pd. to exoh. 8 0 0 Apr. for June
•13 pd. to exoh. 100 Moh. for J uly
•15 pd. to exoh. 9 0 0 Apr. for J uly
•16 pd. to exoh., 7 0 0 A pr. for Aug.
•16 pd. to exoh. 1 ,0 0 0 Apr. f or J u ly.
■17 pd. to exoh., 4 0 0 A pr. for Aug.
•07 pd. to exoh.. 6 0 0 Apr. for May.
•06 pd. to exoh. 400 Apr. for M ay.
•09 pd. to exoh 2 0 0 May for Aug.
r e c e ip t s a n d
D
a il y
C rop Movem ent.
—A comparison of the port movement by weeks is not
accurate as the weeks in different years do notendon the
same day of the month. We have consequently added to our
other standing tables a daily and monthly statement, that
the reader may constantly have before him the data for
seeing the exact relative movement for the years named,
The monthly movements since September 1, 1896, and in
previous years, have been as follows;
HantAly
Receipts.
Fear Beginning Septem ber 1.
1896.
1895.
1894.
1 8 93.
1892.
6 25
J u t e B u t t s , B a g g i n g , & c .— T h e m a rk e t fo r b a g g in g d u r
in g th e w e e k u n d e r r e v ie w has been q u ie t a n d prices a r e
n o m in a l a t 4 % c . fo r 1% lb s ., 5 c. fo r 2 lb s . an d 5J£c. fo r s ta n d
a rd g r a d e s in a jo b b in g w a y . C a r-loa d lots o f stan d ard brands
are q u o te d a t 4 % c . fo r \ % lb s ., 5 c . f o r 2 lb s. an d 5 3^c. for 2 V
lb s. f . o . b. a t N e w Y o r k . J u te butts are also qu iet at 1 1-I6c7
fo r p ap er q u a lity , l -40 c. for m ix i n g a n d b a g g in g , a ll to a r r iv e '
S h i p p i n g N e w s . — T he e x p o r ts o f c o tto n fr o m th e U n ite d
S ta t e s t h e p a s t w e e k , a s per la test m a il r e tu r n s , h a v e reached
8 0 ,8 1 0 b a le s.
N e w Y o r k - T o Liverpool, per Bteamer Georgic, 6,660 upland*4 bates'
and 150 Sea Island..............................................................
6 810
1*775
To Hull, per steamer Martello, 1 ,770................................. j
To London, per steamer Georgian. 100 .................... 7. " * ’ J
’yoo
To Havre, per steamers La Normandie, 650 upland and" 190
Sea Island___ Radley, 3 0 0 ............................................................
y y4o
To Bremen, per steamer Spree, 2 0 0 .................................’ -----------------------200
To Antwerp, per steamer Westernland, 7 0 0 ........... .7.7.".'."."."."
700
To Japan, per steamer Radnorshire, 2 0 0 ....................................
200
N e w O rleans —To Liverpool, per steamer Barbadian, 3 ,486 ..
„„
3,486
To Manchester, per steamer Treasury, 4 ,5 7 6 ...........................
4,576
To Belfast, per steamer Ramore Head, 1,039.............................
1,039
To Havre, per steamer Euskaro, 6,294........................................
6 294
To Bremen, per steamer Wllderspool, 6 ,1 0 0 ...............................' 6,’l0 0
To Hamburg, per steamer Cape Colony, 3 0 0 .............................
—
300
To Rotterdam, per steamer Cumeria, 3 3 2 ....................................
332
To Antwerp, per steamers Cayo Mona, 2 ,0 2 6 ___ Sarmatia.
1 5 0 .................................... .....................
................................... . 2,176
To Copenhagen, per steamer Xenia, 890 ........... 7 .. ... ... 7 7 7 7
___
890
To Barcelona, per steamer Martin Saenz, 2 ,1 5 0 ........................
2,150
To Genoa, per steamers Gulseppe Corvaja, 2 ,7 8 9 ___ Martin
Saenz, 2 ,6 4 6 ........................................................................................
5,435
G a lv e sto n —T'o Liverpool, per steamer Explorer, 4,211 ...........
4,211
To Havre, per steamer Hardwlok Hall, 10,400...... ................... 10,400
To Bremen, per steamer Europa, 6,150 ......... ............................
6,150
To Hamburg, per steamers Castleventry, 1 ,9 6 7 ... Phoebe,
8 8 8 ... .
2,855
Mo b il e To Liverpool, per steamer Bede, 1 ,6 0 9 .............................
1,609
B sd n s w ic k —To Bremen, per steamer 8t. Regulus, 6 ,1 0 0 ...........
6,100
N o r f o l k —T o Hamburg, per steamer Stanley Hall, 9 4 * ..............
946
B oston —To Liverpool, per steamers Michigan, 7 8 5 ___ Roman,
7 3 9 — 8ylvania, 224 upland and 423 Sea Island..................
2,171
To Hull, per steamer Lepanto, 784 ...................... ........................
784
To Yarmouth, per steamer Boston, 4 7 ..........................................
47
B altimore —T o Bremen, per steamer Bonn, 1 ,6 5 0 .........................
1,650
P h il a d e l p h ia — To Liverpool, per steamer Indiana, 1 8 4...........
184
T o ta l........ _ ...........
1891.
518,762
676,823
Sept’mb’r 912,486
383 ,8 8 6
377 ,4 0 8
405 ,3 5 5
O ctober.. 1,468,516 1,202,460 1,622.664 1 ,311,279 1 ,1 35,473 1,532,426
Novem b’r 1,286,251
912,759 1,607,662 1,272,776 1,125,855 1,376,909
9 3 0 ,0 2 9 1,215,144
D eoem br 1,256,000 9 8 7 ,8 9 9 1,497,560 1,239,738
436 ,4 5 7
665,162
635,978
January
548,118
938 ,1 9 7 687 ,0 2 8
330 ,5 0 4
2 9 1 ,6 4 8
658,855
404,976
441,776
February
533,398
T o ta l... 5.964.107 4 ,476,898 6 ,718,243 5 ,218,723 4 ,324,817 6,125,319
Pero’tage of tot. port
84-40
85-58
8299
85*23
87*23
reoeipts Feb. 2 8 ..
80.810
T h e p a r tic u la r s o f th e s e s h ip m e n ts , a r ra n g e d in ou r u su a l
f o r m , are a s fo llo w s .
Other
Bremen Other
Japan &
& dam - North South Nova
Liver- United
pool. Kinqd. Havre burg Europe. Europe. Scotia. Total.
New York.
6,810 1,875 1,140
200
700 .........
200 10,925
N. Orleans. 3 ,436 5,615 6,294 6,400 3,398 7,535
32,778
„ _____
Galveston.. 4,211 ......... 10,400
9,005
23,616
.................. rT
. . . _____
Mobile ___
1,609
1,609
Brunswick.
6,100
6,100
____ T
Norfolk___
946
946
Boston.......
2,171
784 .........
47
3,002
........ m
Baltimore..
1,650 .......
1,650
PhlladeTa..
184 ........................ ......... ........................ .........
184
_
_
___
__
__
T o ta l. . . . 18,471 8 ,274 17,834 24,301 4,098 7,585
217 80,8 1 0
This statement shows that up to February 28 the receipts
Below we add the clearances this week of vessels carrying
at the ports this year were 1,487,209 bales more than in
1895 98 and 751,133 bales lesi than in 1894-95. By adding to cotton from United States ports, bringing our data down to
the totals to February 28 the daily receipts since that time we the latest dates:
s t o n — To Hamburg—March 19—Steamer Cheru9kia, 3 5 0 ........
shall be able to reacn an exact comparison of the movement G a l v eMarch
2 4 —Steamer Gena, 447.
for the different years.
To Rotterdam— Maroh 19—Steamer Tolosa, 1,321.
1896-97.
1895-96.
1894-95. ! 1893-94.
1892-93
Tot.Fb.29 5,964,107 4,476,898 (6,718,^43 >5,218,723 4,324,817
M c h .l...
9,022 I
7,590
8.
14,006
17,956
"
2 ...
13,824
7,591
20,663
17,463
8,983
“
3 ....
8,393
14,993
s.
9,952
3,185
7,1141
“
4 ....
8.
21,281
9,685
13,459
11 5 . . .
8.
20,262
9,313
28,062
13,150
“
6 ....
12,729
17,010
15,086
12,043 1 11,224,
9,502
“
7 ....
12,004
8.
8,058
15,408
7,624
9,347
“
8 ...
19,335
14,829
8.
9,055
16,145
17,045
“
9 ...
14.676
9,937
9,333
8,849
“ 10 . . .
8.
13,895 % 14,392
7,160
27,307
8.
9,049
11,715
“ 1 1 ....
24.275
14,550|
8.
" 1 2 ...
14.753
8,232
6,176
23,929
14,214
11,604
“ 1 3 ....
19,184
10,940
15,293
9,695
8.
11,707
* 1 4 ....
25,432
6,908
7 ,7 3 0
8.
* 1 5 ...
10,127
12,772
5,796
11,492
14,991
9.925
* 1 6 ....
10,951
8.
6,717
7,451
14,096
“ 1 7 ....
8,032
23,028
8.
8,942
“ 1 8 ....
7 .8 5 9
8.
20,638
10,799
" 1 9 ....
13,424
10,123
17,402
9,410
9,621
14,667
M 2 0 ....
8 ,128
7,384
8 ,840
8,610
16,191
8.
“ 2 1 ....
5,391
7,110
33,1 0 2
8.
7 ,206
M 22 . . .
8,096
10,4199,648
0,172
10,646,
“ 23 . . .
10,412
9,634
8.
8,155
16,847
“ 2 4 ....
7,962
17,965
8.
i o ,7 o e j
7 ,466
2 5 ....
6,430
8.
24,901
6 ,530
“ 2 0 ....
*38,885|
1891-92.
17,039
13,739
13,685
22,960
16,828
a.
17,913
23,451
12,215
9,856
13,133
16,002
S.
16,775
23,833
12,435
13,074
10,067
11,863
8
10,146
16,970
7,364
8,373
10,472
9,492
6
T o t a l. . 6,256,877 4,738,814 7,170,333' 5,435,728 4,5 1 1 ,9 7 0 6,453,004
Percentage of total
00-15
88-06
87-8 6 | 90-97 1 9 0 ’86
port reo'pts Mob.26
* 14,9 8 0 bales added as correction of receipts since Sept. 1.
This statement shows that the receipts since Sept. 1 up to
to-night are now t,517,053 bales more than they were to the
same day of the month in 1896 and 913,958 bales less than
they were to the same day of the month in 1895. We add to
the table the percentages of total port receipts which had
been received to March 26 ia each of the years named.
N e w O rlean s —To Liverpool—March 2 3 —Steamer Engineer, 2 ,8 3 0 ....
March 2 4 —Steamers Floridian, 1,800; Niotraguau, 2,210.
To H ull—March 2 5 —Steamer Daniel, 4,283.
To H am burg-M arch 2 0 —Steamer Galicia, 3 ,7 3 3 ........Maroh 2 3 Steamer Per elope, 1 ,826.
To Copenhagen—March 23—Steamer Nicolai II., 650.
To Narva—Maroh 2 0 -S h tp Heinrich, 5,595.
To Barcelona— March 2 0 —Steamers Berenguer el Grande, 2 ,250;
Miguel Jover, 2 ,4 2 5 ... Maroh 2 3 —Steamer Manila, 1,110.
To Genoa—March 2 0 —Steamer Berenguer el Grande, 3 ,6 3 5 ........
March 2 3 —Steamer Manila, 3,266.
P ensaco la —To Liverpool-M aroh 23—Steamer Franoisoa, 4,426.
Oh a r l e s t o n — To Warburg—March 2 0 —Bark Sunnira, 1,835.
To Barcelona—Maroh 2 1 —Steamer Corinthia, 3,450.
Po rt R o y a l - To Liverpool—Maroh 2 0 -Steam er Aston Hall, 7,105.
N o r f o l k - T o Liverpool—Maroh 2 5 —Steamer Ormidale, 357.
To Hamburg—March 23—Steamer Ardova, 1 0 0 .....M a r o h 2 5 Steamer Knight of St. George, 701.
aosiON—To Llveryool—Maroh 1 7 —Steamer Philadelphian, 9 9 1 ........
March 1 8 - Steamer Canada, 4,199 upland and 35 Peru....M aroh
19—Steamer Cephalonia, 1,649 ...M aroh 22—Steamer Sagamore,
557
March 2 3 —Steamer Armenian, 847.
Ba l t im o r e - T o Bremen—March 25—Steamer Massapequa, 1,802.
To H am bu-g—March 2 0 —Steamer Cassius, 100.
P h il a d e l p h ia —To Liverpool—Maroh 23—Steamer Belgenland, 305.
San F banoisoo —To Japan—March 23 —Steamer Peru, 500.
Cotton freights at New York the past week have been
as follows.
Wednes. Thurs.
S atur.
M on.
Tues.
Liverpool,asked.d. 17>fll
Do ......... d. . . . .
Havre............. e.
30t
Do ..............c. . . . .
Bremen........... d.
Do ........... d.
Hamburg____ d.
251
Do ........ d. . . . .
Amsterdam...... c.
30t
Beval, y. Hamb..cL 26128
Do v. Hull...<L 31S
....
Baroelona........ d.
Genoa............ d.
30t
Trieste............ d.
371
Antwerp..........d.
90i
Ghent,v.Antw’p.d. u64
ICents net per 100 lbs.
17!flf
17hit
17iat
17hit
....
....
....
301
...
251
301
30t
....
....
251
301
. .. .
25t
25t
25t
25t
,.M
251
....
....
....
....
251
30t
25128
3IS
...
30t
371
264
HS4
301
251SS
31S
..M
301
371
e64
D84
301
26128
3ia
....
301
371
964
UU.
301
251S8
3J0
....
301
37t
964*
U64
FYi.
17>al
.. ..
30t
....
251
....
251
....
301
25us
31«
«••*
301
371
904
u84.
THE CHRONICLE
626
L i v s b p o q l . — By cable i r o m Liverpool w e have the f o l l o w i s g
atatement o f the w eek’s sales, stocks. &a., at that port,
Men. 5.
MCA
8 ft,000
8*le» o f the w e e k .......... bale*.
1,200
O f which exporters t o o k ----i.ooo
Of which apeoulator* took..
75.000
Sale* A m erican.........................
#,000
A ctu al e x p o rt.............................
85.000
vardwt..
Norw____
1.596.000
Total stock—Estimated
Of w hich Am erican—E«tiru‘d 1.225.000
Total im port o f the week
80.000
7ft,000
Of w hich A m erican----134.000
.Amount afloat...................
O f which A m erican___
125.000
12
Meh. 10
3tel>.
26.
57.000
61,000
2,400
BOO
300
1,500
•18,000
53.000
0,000
7,000
8 - 1,000
81.000
,383,000 1,,340,000
,211,000 1,,170,000
75.000
38.000
60.000
29.000
112,000 128,000
102.000 115,0001
Futures.
M arket, \ Steady.
1 :4 5 P, M.j
M arket, {
4 P. M. {
Quiet,
4
Frw o i ,
&
4
6,000
300
!
M M .Dpi'ds.
8 alee ..........
•Bpe*. A exp.
Quiet.
Moderate
demand.
r
Market, f
1:45 r, M. j
Saturday Monday. Tuesday. Wed’day.
Moderate In buyers"
demand.
favor.
Dull.
4
4
9,000
500
7,000
500
3,000
500
Steady,
Steady at
partially
1 81 dec.
Steady.
Steady.
Quiet but Quiet but
steady.
steady
Quiet.
331. 2
33 3*
10,000
500
3,000
500
Steady ai Steady at
1-64 ad
2-64 de
cline.
vance.
Steady.
Quiet but
steady.
The prices o f futures at Liverpool for each day are glv< n
■below, Prices are on the basis o f Uplands, Low Middling
clause, unless otherwise stated.
X W The p rices a re given in pence and 6-l'A
3 63-64d., and 4 01 means i l-6 4 d .
T h u s:
3 63 means
F r l.
Tneu,
W ed. T h ar*.
Satnr. HI o n .
J iarch 20 to
March 26 12is 1 1:45 4 1:45 4 1:45 i 4 1:45 4 1:45 4
P. M.iP. M P. M. P.M. P.M . P.M. P. M. jP, M. P. M. P. M. P. M. P. S<.
d
d.
d.
3 59 3 60 3 00
M a rch ___
Moh.-April.. ,3 60 3 59 3 60
A p ril-M a y .. 3 fO 3 59 3 60
M ay-Jn m j.. 3 60 3 59 3 60
Jn n e-J n ly., 3 60 3 5ft 3 60
J n ly .-A o r .. 13 61 3 59 3 80
Aujr.-Sept.. 13 58 3 57 3 5S
Sept. -O ct... 3 51 3 52(3 52
■O ct.-Sov... 3 16 3 47 3 47
N or,-D e e ... 3 46,3 45 3 45
.1 1 3
Q 45 3 46
3 44
D e c .-J a n ... Q
J a n .-F e b ...
d.
d.
3 59 3 59
3 59 3 59
3 .-9 3 59
3 60 3 59
3 60;3 59
3 60 3 59
3 57 3 57
3 51 !3 52
3 46 3 46
3 44:3 44
3 44 3 44
d.
3 59
3 59
3 59
3 59
3 59
3 59
3 57
3 51
3
„ 46
...
3 45
3 44
d.
d.
d.
a.
3 60 3 60 3 58 3 57
3 60 3 60 3 58 3 57
3 60 3 60 3 59 3 57
3 60 3 60 3 53 3 57
3 6 0 3 60 3 58 3 57
3 60 3 60:3 58 3 59
3 57 3 57 3 55 3 55
3 51 3 51 3 49 3 49
3 47 3 46 3 45 3 44
3 45 3 45 3 43 3 43
3 45J844 3 43 « 42
d.
3 58
3 58
3 53
3 53
3 58
3 58
3 56
3 50
3 46
3 43
3 43
<f,
3 57
3 57
3 57
3 57
3 53
3 58
3 55
3 49
3 45
3 43
3 43
BREADSTUFFS.
F r id a y , March 26, 1897,
r> 4ILV CLOSING P B I08S OP HO. 2 B a t) W IN TBR W H BAT
Mon.
80
78%
....
77
71%
Tver.
80%
78%
....
77%
75%
Wed.
80%
79
79
77%
74%
Mhn,
S9%
30%
31%
3 2 7e
Bat.
30%
30%
e. 32
July delivery ................ c.
September d eliv e ry .......o,
.0. 33%
Thun
80%
78%
___
77%
74^
80»78%
___
77%
7 4 ’^
Tut*.
29%
30 *4
31 ^
32%
Wed.
29%
30*8
31%
32%
*>» .
29%
30
31%
32%
77iu-*
29%
30*3
31%
32%
Oat for future delivery have continued dull. E irly in the
week the market held steady. Subsequently, however, prices
eased off a fraction in sympathy with ill i weaker markets for
other grains. To-day the rairket was dull but steady. In
the spot market a moderate volum s of business has been
transacted and values have ruled steady. Tne silos to day
included No. 2 m ixed at 32c, in elevator and No. 8 white at
28i^@21c. in elevator.
DAILY CLOSING PatOBS OP NO. 2 MIXED OATS,
Sat. Mon.
May d elivery................a. 2 1 % 2 1 %
July d e liv e r?................ 0.....
22%
lu es.
2 i%
22%
Wed. T h u n .
2 1%
21%
22%
22%
pr i.
21=*
22%
Rye bas bad little call, but the feeding grades o f barley have
com inued in fair export dem m i at steady prices.
The follow ing are closing quotations:
p io u s .
M ac— ............. S bb l. $2 00® 2 75 P atent, w inter........... $4 60® 4 90
Snperflue................... 2 2 0 a 3 00 City m ill* ex tr a s____ 4 7 0 " 4 80
Sxtra, No. 2 ............... 2 70 4 3 24 R ye flour, superfine.. 2 25® 2 75
Sstra, No. 1................ 3 25 a 3 60 Buokwheat flou r...................a . . . .
Hears........................... 3 70 a 4 15 C om m eal—
Uraluhte .............. ...
4 0 0 a 4 45
W estern, &o............ 1 7 0 » 1 8 5
’ alBDt. sp rin g.......... 4 1 5 9 4 40
B randyw ine............
1 9 11
I w b e a tflo u r in saekasells at prices below those fo r ba rrel*.:
GBAW.
e.
« beat—
0.
Corn, p er bush—
Weat’ n m ix e d .. . . „
No. 2 m ixed...........
Western y e llo w ...
N crthera, No. 1 ... 84 %a> 8 4 %
Western W hite___
ala ,a ix c d ,p e r b u . 20 » 23% B y e W estern, per bu sh.
W h ite.................... 21 ® :-0
No. 2 m i x e d ....... 22 ® 23
State and J e r s e y ..
*0 2 w hite............ 23 %® 25
B ariev—W estern___
F eedin g...................
Spring, per boat.. 81 ® 89
Red winter No. 2.. 81%® 83%
Red w inter............ 30 ® 86
0.
28 ®
29% ®
29 ®
29 ®
0.
32%
31%
32%
32%
33 ®
38 ®
38 ®
32% ®
42
42
48
33%
The m ovem ent o f bread-stuffs to m arket as in dicated in the
statements below is furnished to us by the Statistician o f the
New York Produce Exchange, W e first give tne receipts at
Western lake and river ports, arranged so as to present the
com parative m ovem ent for the week ending March 30, 1897,
and since August 1, for each o f the last three years:
Receipts at—
The market for wheat flour has continued in a very tim e
and uninteresting position, The volume o f business trans
acted has been stnill, as buyers have been in liflerant and
have lowered their bids 5 to 10c. per barrel. Sellers, h o w
ever, have only small stocks on hand a i d have held for old
.price?. City mills have had only a limited sale but values
have held steady. Rye flour has had only a j rbbing dem and,
and there has been an absence o f tone to values. Corn meal
has received only a very moderate am ount of attention, but
ow ing to the strength o f the m arket for actual corn, prices
have held steady.
There has been a quiet speculation in the m irkat for wheat
futures, .and prices have weakened, showing a decline o f
1 ri'@2c. for the week, Saturday there was a quiet m irker,
a n ff under realizing sale3 by a few longa prices declined
% c There was a moderate amount of activity to the trading
on Monday, but it was at the expense of prices. Foreign
advices cam e weaker, and longs were liquidating, under
w hich there was a decline o f 1:;g@2c. per bushel. 7’ uesdar
the market was stronger, advices were received from the
winter-wheat belt reporling crop damage, and as they were
accoropannd by buying orders, it stimulated a demand from
local shor a to cover con tracts, and at the close prices showed an
advance of K ® Jjjc. fo r th e d a y . W ednesdaytbem arketagain
turned easier in response to weaker foreign advices, closing
at a fractioral decline. Thursday prices lost
under
liquidating sales by tired holders. To-day the market opened
weaker, in response to easier foreign advices. Towards tin
Close, however, there was an advance on unfavorable crop
news, and final prices were
up for the day. In the
spot market only a limited volume o f business has been
transacted, and prices have weakened with futures Th r sales
to day included N o. 8 hard winter at 787gc, f.o.b afloat. No.
1 northern Duluth was quoted at 84%o, f.o.b. afloat and N j.
2 red winter at Pd^e, f.o.b , afloat.
Bat.
82
March delivery........
May delivery..........
80%
...
0,
June d elivery—
July delivery
.......
78%
-September delivery. . . c. 75%
There has been only a very limited specuUtioa in the r a c
ket for Indian corn futures. Prices have weaken id slightly
in sympathy with the decline in wheat, bu, a m Maria! rediie •
tion in values has been checked by the small crop unvam aat
and poor grading o f the receipts at the West. To-day the
market was dull and with rut changes o f an important
naiure. In the spot market business has bean quiet, but
ow ing to the poor grading prices have held relatively firm.
The sales to day included No. 2 mixed at 2iri£c. in ebvator
and No. 2 yellow at 305|[o. in elevator.
DAILY CLOSING PBIOBS OP NO. 2 MIXED CORN
March......................... o,
May delivery......... ..o .0
The tone o f the Liverpool m a r k e t f o r spots and fu t u r e s eat h
day o f the week ending March 38 a n d the da-lv closing prict s
o f spot cotton , have been a s follow s.
Spot.
i V i b . LX.IV,
Chicago......
Milwaukee.
Duluth......
Mlnneap’lis
T oledo......
Detroit..... .
Cleveland..
St Louis...
Peoria.......
Kansas City
Wheat*
Barley.
Rye.
Flour.
Corn. - Oat*.
Bbls.lQms Bush.mtbs Bush.bMbs Bush.82&s Bush. iB lbs Bush.56 lbs
20,810
82.350
702,547 1,446,390
52.775
227,590
131,000
18,600
117,000
1,950
42,200
156,000
323,192
1,714
35,131
5,600
115,931
41,883
2,690
249,22f
739,500
36,240
-44,787
2,530
797
152,388
3,00-»
20,547
15,293
17,096
2 800
14,424
6,825
10,919
764
11,608
23,165
158,655
075.175
174,900
4,900
26,25 j
i 76,000
7,500
12,000
30,800
600
129,260
68.500
235/00
57,000
ToLwk/9?
Samewk.’96
Same wk,’95
1890-97. ..
1895-96 ...
1894-95 .
1,623,356
2,760.801
2,051.73-
496,947
7i?,a29
35J,H6
82,577
84,708
55,372
7,766,189 125,208,478 111,082,038 121,854,754 32,937,035
7,717,428 160,603.242 84,821,356 90,244,805 32,517,854
8.803,392 120,234,814 55,893,309 61,855,612 28,695 887
5,894,651
2,981,581
1,967,288
J4.3,191
157,117
153,237
2 210,421
2,871,074
1,235 891
2,338,153
3.585,068
1,907,857
The receipts o f flour and gr tin at the seaboard ports for the
week ended March 30,1897, follow :
R eceipts a t—
New Y o r k . . . .........
B oston ...........
M ontreal........ .—
P h ila d e lp h ia ............
B altim ore ....... .
R ic h m o n d
....... .
New O rleans*.........;
N o rfo lk .......................
N ew port N ew s.........
G a lv e s to n ................
M obile......... ............
Portland. M e ..........
St, Jo h n , N. B ...........
T o ta l w e e k .. .. . .
Whe^t.
bush.
10*175
179,365
i lour,,
bhl*.
i O i .s u
2;i,f>30
15,820 , 777,090
105.711 1,504,195
10.190
8,000
...
23,932
8,732
170
Week 1896. ..... .... 259.473
218,625
133,-191
21,678
3.756
57,02w
45,u“ S
2.66 L
21,228
........
49,341
. . . ------
3 1 7 /4 3
Com,
bush.
25,004
1.260.4U
460.77 L
743,000
Barley,
bush.
176,475
1,915
2,900
12,000
M
b ush.
81,200
1,155
8,870
*40,675
89,0^8
80,COO
8,489
377,881 5,336/24
170,834
T u ll
562.800
159,247
48.596
69,872
43,5488
23,090
02,075
*67,132
1.016.040
826,172 1,189.626
*39,*139
232,420
188,820
**26,*660
103,514
80,888
•Receipts do not include tfrain passing through New Orleans for foreign
porta on through bills o f lading.
Total receipts at ports from Jan, 1 to March 30 compare as
follow s for four years :
Receipt* of—
Flour, .............. bblS
1897.
3,268,210
1806.
2,276,980
3895,
3.174,040
1894.
3,671,473
W heat........... bush.
Corn . ............ "
Oats ............... ,
Barley..............
Rye.................. "
4.419,534
51.631.890
12.02 U “ 7
2J 20,237
1,249,422
2,937,333
15.55^,^51
8.056,^1 8
1.435.038
310,283
3,53 U 59
5.817,812
0,144.068
1,002.510
78,170
2,452,064
15.558,603
6.277.921
1,239,437
53,591
Total grain , . ...... 71,142.259
28,204,913
16,577,959
25,58l,d70
The exports from the several seaboard ports for the w eek
ending March 20, 1897, are shown in the annexed statem en t :
1HE
M a r c h 27, US>7.|
Flour,
Corn,
Wheat,
hbU.
bush.
Ejyporu jrom78,833
47h,016 327,815
New York ..
18,209
Boston.. __ _ 252.486 228,767
8,732
Portland...... 23,932
17,453
Philadelphia.. io,i 00 7-3,011
88,259
1,809.1.2
23,845
Baltimore. ..
926
1,666,297
New Orleans..
Norfolk..........
49.341
Newp’rt News
8,489
179
St. John.........
8.0.6 bi». 28
Galveston —
bO.OuO
Mobile............
uai$
bush.
246.703
13,434
57,13^
Rye,
bush.
20.176
Ptus,
bust ■
3,021
CH KOM ll'LE
627
Barley,
bush.
112,0-0
di.-appeared yet. Still the toDe in the main is rather steadier
and that without any material development in i.ne demand,
20,600
79,552
39,134 Dr.lls are relatively steadier tUan sheetings. Brown ducks
and ot-naburgs continue dull and irregulrr.
Ticks are
217,998
42,857
steadier than for two or three weeks past as the result of
25,205
8,000
some stocks being cleaued up at low prices. Dsnims are as
easy to buy as before, but ordeis are more numerous. Other
0.392
coarse, c. l. red cottons are quiet and without special feature.
Sales of bleached cottons have been of avertge character at
98.233
8J,5«S 151,159 previous prices. Wide sheetings quieter than of late. CotTotal w’k ... 803 285 0.122,332 211.832 540,522
22,053
8 a m e t i m e '9 6 . 633.913 1.9 7 4.L19
123.400
35,910
00,171
ion tilankes in moderate request; new season’s prices 5 to 7}^'
The destination of these exports for the week and since per ceDt lower than last season. Cotton fitnnals in moderate
September 1, 1896, is as below.
demand, but new prices not named yet. Kid-finished cam
-Corn.-Wheat.—
brics quiet out steady Fancy prints in moderate demand, as
Exports for
Week Since Sept.
Week .Since Sept.
Week
Since Se-pt
Mar. 20. 1,1890.
Mar. 20.
toeek and since Mar. 20. 1,1898.
1, 1896.
are fiuer specialties Regu'ar priute. euoh as indigo blues,
bush.
bush.
bbls.
bush.
Sept. 1 to—
bbls.
hush.
573,500 26,814,981 2.795.273 60,924,698 black and whin s, etc., are generally firm with fair sales.
Unitea Kingdom 135,v-50 5,205.719
568.187
168,159 7,587,381 3,250.730 48.914,089 Ginghams in quiet request for dress styles. Staples are irreg
continent .........
7,6/8
21,867
130,099
25.956
*104,048
1.110
8. A C. America
a. large business tias been done in
17.414
590.919 ular, with m ^derate sales,
016,0i 3
16.322
147,194
23.000
264 328 print cloths this week and the mirket closes firmer, but not
6.C50
Blit. N. A. Col’s.
28,805 1,585,860
172,348
61,626
801,831
Other countries.. 19,870
quotaoly higher.
211.832
123.460
Total...
Total 1895-96.
803.285 35,226,060 0,122,332
023.914 25.276,939 1,974,119 57,756.759
7,374,709
7,419,699
The visible supply of grain, comprising the stocks in
gra n a ry at the principal points of accumulation at lake and
seaboard ports, March 20. 1897. was as follows:
Wheat.
bush.
In store at
2.092,000
674,000
POf.OOO
201,000
Do
10,538 ono
324,<00
afloat......
246,000
linlath......................
Oo
afloat —
........
Toledo. .
uo
afloat........
Oo
afloat .. .
Cincinnati.................
Boston ....................
Montreal
............
Philadelphia ..........
...........
Peoria.
Indianapolis.............
Baltimore...................
r 1...............................
On Mlssissti pi River
On Lakes....................
Oits
bu*h
3.852,000
100,000
40,000
112.000
100.666
Rue.
225,000
7.710.000
3.814 000
3,000
1X3.000
81.0 0
0,034.000
618 0U0
1 l.OOD
97.00>
95,0 0
1.328.00194,000
456,000
47.000
2.008.000
840.000
57.000
100.00"
280.066
90.000
10 000
40,000
22.000
1,939.000
84.0oO
209.000
20.000
38.000
4,00-
fioo.ooo
1X4,000
47 i.OOO
375,000
30,000
113.000
32«f,0o0
570.000
15,218.000
DRY
80.000
9.000
233.000
04.000
065 000
108.000
83.000
1.073.000
22.000
1.84 1.000
116.000
61.000
lc 3.000
2,07 7,000
bt.ooo
130,000
20.077.000
26.795,000
15,852,000
13.996, "00
19.165 000
2.000
98,000
1,000
08,000
46.00
40.00'
7.000
19.00(
1*6,000
133,000
932,000
21,000
7.000
8 *,000
24.000
13,797.000
13,628,000
8,104.000
0.353.000
2,713.000
8,618.000
3.610.000
1.518,000
272,000
441.DOO
98,6"
3.068.0 0
3, L3O.000
1,330,000
962 0 '0
080,000
GOODS TRADE
New Y ork Friday P. M.. March 26, L8>7
The evidfnces of a waning season have been more clearly
marked durit g the past week in jobbing circles, where busi
ness has been on a more limited scale than for some time
past, hut yet the demand has been on quite a lair scale at
both first and second haDds fer the time of year. Reports
from local retailers and from the retail trade in other large
cities are getierallv of an encouraging character, and from
present appearance actual consumption promises to be of
fuller volume this spring than last in the general run of mer
chandise. There has been no material change in the tone of
the primary market so far as cotton goods are concerned, and
in the absence of any new influence buyers are content to
follow largely a hand-to-mouth policy, and sellers are content
to fill such ordeis as come forward for quick deliveries at pre
vious prices in all descriptions of staples and in most fancy
lines. The situation in tie woolen goods division has not
undergone any material change. A fair business has been in
progress at generally firm prices, but still the impending
tariff changes exercise a limited influence. The financial
conditions in the trade are generally satisfactory, regular
payments being a feature.
Domestic Cotton c o o p s —Tne exports of cotton g«oos
from this port for the week endipg March 23 were 8,292
packages, valued at $148.76'), their destination being to it e
points specified in the moles nelow:
1897.
Ne w Y o r k
to
March 22.
Week. Since Jan. 1.
1896.
—
Week
—
Since Jan. 1.
498
1.116
16,-9!*
2,292
3,171
3,611
3,264
618
1,872
11,377
739
fsSSsf
in
1,350, J00
287,000
591,0c©
s
2
p
sp
Z nr sfg,5
s
i n m
S
oJ
a;
p
p
3:
•s •
"
■S*L
d«. to
*
j
! © ho
k
OS
5 “ J__ .
.
at wtofr m
05 WCOO to
05 05
00 a»
fr ©
fr a« qi —fr
W©
to CO*-» fr -q
to 35 qi—qiat^l
too lOXHtOV
m x f r © © © tO
K1COIO©
to fr ©0505
© <j *—to oo
©CO co» © © at
i ©
CO aofr C O © © © ©
P CO fr© © O at coat
6
©
4 CDI
39
3'
a
^p
3<
i *
K)© fr xi fr©©
....
45,457
7,317
O
’
©CO
60,552
T otal..................................... 3,292
'P r o m N ew E n g la n d m ill p o in t s d lr e o t.
1,500
52,774
<fto
CO©
c* |"© f r
sl 00-1
fr05
si fr-sj
co © © Ui *1
k-'00 05CO<1
00 CO fr X cn©Q
© <1 I
<
|©CO00©
© co fr at at
to
© fr
©o
aoto
rO © to Ji CO
OtOOfr—
fr © fr to ©
MWJfr
© I coaoao<d ©
J— CO f M f r O O M ©
I co"co i auo'bo©Vi
-1 © m © © fr <1
l fr*o 1 at U)go-i to
fr
fr © M XtO
fr fr. X) © fr
to
v
ix ©x xcoaat
d
fr c o a t at at
w co x b o at
vj©<i<icos« :
X © X _W ©
X CO -O f r * 0
co a t fr io to
©©tO©vl
WtOM M<J
© < J tO © X
o x to o m
c o to a tfrfr
at < i to x ©
j-J tOtOtOK)«
to © ^ © to
atxx©^
a t f r f r oo x
at c o © © ©
© to © to fr
© m fr- ~
fr
•— f r f r t o CO
co — ooat©<ico
w© <J"frTo
o © © fr o
at co o to ©
'fr to
fr ©
CDH
©co
1 x © i f r o o a i -*©
i
M
o
a
a t a » a«
fr M M to M
f r CO M f r f r
a«
to to
05 to
sis
w
fr X <|©-J w
x'toatb'co
CO
g -
to I J
t o c o a t f r at
co w a » x ©
to
cstoxM a*
at co T3tooo
at x
a «
mi*■ N
*Mi»Vt
©'-ICO© *0
X — '-- © to
COMO co fr
COJ35 tOjvJj—
to©
**ii
s co
>-i-j-at
frfr
mto 5 ** fr©
W»<T—M O co CO 00 ea to ato fVr aot xat
OCX) fcO
to o <j a> o
©-J
I 05*8 . a0©fr©00
a
w
as at t o w at fr x fr ©
|
tOCDX ©
o© l o a s CO 35 00 S,*A © C O 05
Cofr fr ©
COO) 05 CO »-* CJ! CD a to x w
tQfr
©
frX
fr <1 fr-yJXfr^
frfr I
HUH fr CD
I* i-1<105 ©
I 05*000500
i i
OCtOMM tO
to *5CD© CO
<1©
-©fr
- - qt goco
H cj. |toto
® 7-»
1,500
The value of the New York exports for the year to date has
been $2,160,919 in 1897 against $ 2 ,1 2 3 ,9 9 3 in 1896.
In some directions sellers of brown g o o d s have n o t been
quite so easy to deal with as before, but there has bean n o
general improvement in the market n o r have all w e a k sp o ts
to
Os
2 a>
51,802
8,750
....
1894.
Mar. 24.
199,000
315,000
77,000
The importations and warehouse withdrawals of dry goods
at this port for the week ending March 25, 1897, and since
January 1, 1897, and for the corresponding periods of last
___________________________ _
year are as follows:
H
3,292
__
352
349j
37
154
426
23
18*5.
I m p o r t a t io n s a n d W a r e h o u s e W it h d r a w a ls o f D r y G o o d s ,
1,357
1,146
19,820
667
4,749
2,703
4,069
579
1,540
13,909
1,263
T otal.................................
China, via Van couver*,..
13
37
109
116.000
64.000
107,000
Mar. 23.
220 ,u00
66 ',000
46-* ,OO0
what below the average for those. Buyers are pretty well
through with their purchases of low-grade goods and this
means the elimination of a considerable demand. In the
better grades sales have been fair and the highest qualities
have again shown results which compare favorably with
those of several years past. Tne general tone of the market
i9 firm, and in that connection the tariff has not been without
effect. There has been a fair demand for overcoatings at
steady prices and cloakiDgs are selling more freely. Dress
goods for fall are in fair request, with advances of 5 to 10 per
cent quoted in some plain lines, such as sackings and cash
meres. Flannels ate firm and slightly dearer in some grades.
Blankets and carpets without change.
F o r e i g n D r y G o o d s . —There have been more orders taken,
for fall merchandise this week tnan last, and in woolen and
worsted dress goods the maiket has had an upward tendency
Linens are 5 to 10 per cent higher. Silks firm and tending
against buyers. Ribbons also firm. Hosiety and underwear
without. chaDge.
419
531
1 *4
4
400
688
260
32
193
578
G3
Great Britain.......................
Other European...............
China —.....................................
I n d ia .................. ........................
Arabia.......................................
A fric a ........................................
west Indies_____ ___________
M exico.....................................
central America....................
Sooth Am erica_______ . . . . .
Ocner Countries..................
•896.
Mar. 21.
188.DOU
■By agreement among the cloth brokers no detailed statement o f
03,000
15.0' 0 the print clo.h market is made puolic.
803.n t
W o o l e n G o o d s . —Prospective tariff changes have not ex
157.^ 0 ercised an active influence over the market for men’s-wear
97.000 fabrics during the past week. They do not appear to have
101 u«i
95.000 stimulated the demand to any extent, the business passing dif
l,18*,00h fering little in character from recent weeks and falling some
2,007.000
16,000
551.000
total stows (P ie c e s !....
Barleu
bush.
bush,
28 i.od»
402,009
940,ovu
Total Mar. 20. 1«07.40,430.000
Total Mar. 13.1897.41.149.000
Total Mar 21.1890.61,3*0.000
Total Mar. 23 if 95 55.773,000
Total Mar. 24,1894. 72.104.000
TH E
Corn
bush
4.267,000
181)7.
elocK of Print OLoifti —
Mar. 20.
at Providence, 61 squares. 0
it Fall River, 64 squares. >
41 Fall River.odd s iz e s ... 3
to r — I a t f r t o <JH*
t o f r i ' m 0 5 35 O X
© © I fr at
to '
© <l I
fr ©
co
© <i*w
QO'O j a»<J
—to
co© co»
©at© O’ 05
b<l
a
tco
"
X©
©
at
-J
to
'j
-1 to
at -j © o<i
fr X
fr
to © fr cn o
a » co © a t x
c o © f r © at
f r © at © -* «
ofropat
©cobo'tofr
© at at
x
fr © to X ^
I 'H K
62e
State
;»n d
C ur
TER M S
OF
C H K O N K 'L E .
p E fA fm m iT ,
S U 8 S C R IP T IO N .
| Vo l . L X I V
Seven thousand seven hundred dollars of ;the securities are
dated August 1, 1896, and the remainder April 1, 1897; inter
est is payable semi-annually by the City Clerk of Canton, o f
at the office of Kountze Bros., New York City, as the pur
chaser may desire. The bonds are of the denominations or
$800, $100, $600 and $900, and will mature as folio vs: $3,000
at the rate oi $400 every two years from August 1,1898 to 1906
inclusive; $5,400 at the rate of $800 per annum from August
1, 1897 to 1905, Inclusive; $300 on August 1, 1906; $5,400 at the
rate of $900 per annum from April 1, 1898 to 1903, inclusive.
I n v e s t o r s ’ S o t f l h k e n t w ill be furnished without
extra charge to every annual subscriber of the C o m m e r c ia l
a n d F in a n c i a l C h r o n ic l e .
T h e S t a t e a n d C i t y S u p p l e m e n t w ill also be furnished
without extra charge to every subscriber of the C h r o n ic l e .
Charlotte, N, C.—Bonds Proposed.— An ordinance author
The S t r e e t R a i l w a y S u p p l e m e n t w ill likewise be fu r
nished without extra charge, to every subscriber of the izing Charlotte to issue $350,000 of water-works b mda has
been passed by the State Legislature.
C h r o n ic l e .
Th e Q u o t a t i o n S u p p l e m e n t , issued m o n th ly, w ill also be
Chester, S. C. -Bond Election.—In May, 1897, the question
furnished without extra charge to every subscriber of the o f issuing $50,000 of bonds for the construction of water
C h r o n ic l e .
works and an electric-light plant will be determined by the
TERMS for the C h r o n ic l e w ith the four Supplements citizens of Chester.
The
above named are Ten Dollars within the United States and
Cleveland, Ohio —Bond Offering.—Proposals will be re
Twelve Dollars in Europe, which in both cases includes ceived until 12 o’ clock noon, April 30,1897, by H. L. liossiter,
postage.
City Auditor, for the purchase of $300,000 of 4 per centsswer
coupon bonds. Interest on the securities from Oat. 1, 189S.
Terms of Advertising— (Per Ineli spaee.)
One tim e .................................. $3 50 I Three M onths (13 times) ...$25 00 will be payable semi-annually oa the first days of April and
October, and the principal will mature Oat. 1, 3931, hoth prin
O ue M onth
(4 tim e s ).. 1 1 0 0 Six months
(20 tim es)-. 43 00
Txvo M onths
(8 tim es).. IS OO ] T w elve Months (52 tim es). 58 00 cipal and interest being payable at the American Exchange
T he a bove term s for one m onth anil upwards are fo r standing cards. National Bank of New York City, The bonds will be of the
denomination of $1,000 each. No bid for lass than par and
B on d Proposals and N egotiations,—We have rt- accrued interest will be considered, and each proposal must
ceived through the week the following notices of bonds be accompanied by a certified check for 5 per cent of th »
recently negotiated and bonds offered and to be offered for amount bid for.
Coatesville, Pa.—Bonds Authorized.—It is reported that
sale.
Ambler, Pa.— Bonds Proposed.—'This borough proposes to the citizens of Coatesville have voted in favor of issuing the
proposed $30,000 of water-works bonds,
borrow $25,000 for the purpose of improving the streets.
Columbus, Gta.—Bond News.— The report that this city ex
Atlantic City, N. J .— Bond Offering.—Proposals will be
received until noon April 10, 1897. bv A. M. Heston, City pects to issne $50,000 of sewer and water-works bonds is in
Comptroller, for the purchase of $35,000 of 4J4 per cent correct.
gold coupon bonds. The securities will be dated May
Concord, N. C.—Bonds Proposed.— The city o p C o n o r l
1. 1897; interest will be payable semi-annually at the proposes to issu° water-works and street improvement bonds
Union National Bank, o f Atlantic City, and the principal to the amou it of $40,000.
will mature May 1, 1927. The proceeds of this issue
Durham, N. C.—Bonds Proposed.—Water bonds of Dur
will be applied to the payment of matured or maturing ham to the amount of $150,000 are under consideration aud
city bonds, notes and certificates, now drawing 5 and 0 per an election will be held soon to vote on the question of issu
cent interest. The denomination of the bonds will be $1,000, ing the same.
and they are secured by a sinking fund. The bonded debt of
East Orange, N. J .—Bonds Proposed —This municipality
Atlantic City on March 25, 1897, including this issue, was
$1,190,210; water debt, $875,000; special assessment bonds, expects to issue $60,000 of school-house bonds.
Escan aba, M icb.—Bonds Proposed—It is reported that
$10,000; sinking fund, $47,179; net debt March 35,1897, $258,031. The assessed valuations are: real, $11,913,914; personal water-works bonds to the amount of $125,000 will be issued
property, $1,177,040; total, $13,090,954; total tax rate per by the city o f Escanaba.
$1,000, ’$1900, The actual valuation is estimated at about
Gaston County, N. C.—Bonds Proposed,—This county pro
$40,000,000. and the permanent population, according to local poses to issue court-house bonds to the amount of $25,000,
'figures, is $23,000.
and an election will be held to vote on the question of issuing
Arverne-by-tlie-Ssa.— Bond Offering —Oa April 3, 1897, at the same.
Hartlord, Conn.—Bond Sale.—This city has sold $270,000
3 o’clock P. m ., A. E. Karelsen, village clerk, will sell at pub
3% per cent refunding bonds to R. L, Day & Co., of Bos
lic auction $45,000 of 5 per cent gold bonds. The securities of
ton, Mass., at 103-219.
will be dated May 1, 1897, and the interest will be payable
High Point, N. C.—Bond Election.—City Secretary and
semi annually on the first days of May and November; Treasurer E . N. Snow reports to the C h r o n ic l e that the elec
»5 ,000 of the bo ads will be applied to dredging the Amstel tion to vote on the question of issuing $10,000 of school bonds
Canal and will mature at the rate of $1,000 per annum from will be held on May 8, 1897. The securities, if authorized,
May 1, 1935, to 1919 inclusive. The remainder of the securi will bear interest at the rate of 6 per cent.
Holden, Mo.—Bond Sale.—On March 16, 1897, the $12,000
ties are highway improvement bonds, and will mature at the
o f 5 per cent electric-light bonds of this city were sold to the
ra'e of $5,000 per annum from May 1, 1920 to 1937, inclusive. Bank of Holden at par.
The securities are dited April 1, 1897, interest is payable
The securities will be of the denomination o f $1,000 each
and will be issued in the form of coupon or registered bonds semi-annually on the first days of April and October, at the
office of the City Treasurer of Holden or any bank desig
as the purchaser may desire.
nated by the purchaser in Sr. I,ouis or Kansas City, Mo. The
The official advertisement o f this bond offering will be found principal will mature in five to twenty years from date of
issue.
■elsewhere in this department.
This issue of bonds comprises the only bonded debt of the
Bamberg, S. C.—Bond Election.— An election will be held city. The assessed valuation (estimated at about two thirds of
in the town of Bamberg on April 13, 1897, to vote on issuing the actual value) is $830,262; the population in 1895 was 3,049.
bonds to an amount not exceeding $35,000. Tne securities,
H ollister, Cal.—Bonds Proposed.—Hiram Pond, Deputy
if authorized, will bear 7 per cent interest. A proposition to
issue drainage bonds to the amount of $1,200 will also be sub Town Treasurer, reports to the C h r o n ic l e that the town of
Hollister proposes to issue serial bonds to the amount o f
mitted to a vote of the people on the same date.
$35,000 for the construction of a sewer system. The secur
Berkley, Va.— Bond Offering.—Proposals will be received ities, if authorized, will be of the denomination of $875 each;
until April 15, 1897, by John Whetstone, Chairman of the they will be dated June 1, 1897; 6 per cent interest will be
Finance Committee, for the purchase of $35,0)0 of 5 par cent payable semi-annually, and the principal will mature at the
permanent improvemint bonds of this town. Tne sscurities rate of one-fortieth yearly. A special tax will be levied each
year for the payment of the bonds.
will be of the denomination of $1,000; interest will be paya
Hudson County, N. 3 .—Bond Offering—Proposals will
ble semi-annually and the principal will mature in thirty soon be received by Hudson County for the purchase of $327,years from data of issue. Each proposal must be accom 000 of boulevard-improvement bonds. The securities will
panied by a certified check for 5 per cent of the amount bid b<ar interest at the rate of 4 per cent, $127,000 of the princi
pal will mature iu five years, and the balauce in thirty years
for.
from date of issue,
The official advertisement o f this bond offering will be
Jamaica, N. Y.—Bond Issue.—This village has decided to
found elsewhere in this department.
issue 4 per cent, twenty-year bonds to provide for a new sewer
Boston, Mms.— Temporary Loan.—This city has borrowed system, which is to cast about $150,000.
$1,000,000, due in November, at about 3 per cent.
Lancaster, Ohio—Bond Election —It is reported that an
Canton, Q.—Borul Sale.—On March 20, 1897, the following election will bs held in this city to vote on a proposition to
bids were received for the $13,100 Of 5 percent street improve issue sewer bonds to the amount of $50,000.
ment bonds of this city:
Laurel, Mil.—Bond Offering.— The improvement bands of
Fourth N ations) Bank, Columbus, O h io.............................................. 103'6 this town to the amount of $11,000 are now being offered for
S ea«onsooil & Mayer, ClnoiUHati, 0 ...................................................... 103‘3
sale. They will bear interest at the rate of 5 per cent and will
W. J, H ayes A Bona, Cleveland, Ohio................................................... 101-9
Kndo!ph ICtayboIte & Oo., Cincinnati, Ohio............... .............. ....... 101 5 mature in 1907,
THE < HROVlCLfc'.
M arch 27, 1897.]
L i m a , O h i o .—Bonds
Voted.—
C ity
C le r k
C . E. L y n c h r e
ports to t h e Chronicle t h a t a t a n e l e c t i o n h e l d i n L i m a o n
M a r c h 1 8 , 1897, t h e q u e s t i o n o f is s u i n g i m p r o v e m e n t b o n d s
t o t h e a m o u n t o f § 9 8 ,0 0 0 w a s c a r r i e d b y a l a r g e m a j o r i t y , a n d
t h a t th e s u b je c t w ill n e x t c o m e b e fo r e th e C it y C o u n c il f o r
fin a l a c t io n .
L o s G a t o s , C a l .—Bonds Proposed — I t is r e p o r t e d t h a t t h is
t o w n p r o p o s e s t o is s u e b o n d s f o r t h e c o n s t r u c t i o n o f a s e w e r
a g e sy stem .
L o u i v i l i e , K y .—Bond
Offering.— P r o p o s a l s
w ill be r e c e iv e d
u n t i l 12 o ’ c l o c k n o o n , A p -fil 1 , 18 9 7 , b y t h e C o m m i s s i o n e r s o f
th e S in k in g F u n d
r e fu n d in g
g o ld
fo r th e p u rch a se o f
b in d s o f
th is m t y .
d a t e d A p r il 1, 1897; in te r e s t
§ 5 8 8 ,0 0 0 o f 4 p e r c e n t
T h e s e c u r it ie s
w ill b e
p a y a b le
w ill
be
s e m i-a n n u a lly
o n t h e fir s t d a y s o f A p r i l a n d O c t o b e r , a n d t h e p r i n c i p a l w i l l
m a t u r e A p r i l 1 , 1937, b o t h
p r in c ip a l a n d
in te r e s t b e in g p a y
a b le a t th e N a t io n a l B a n k o f th e R e p u b lic o f N e w Y o r k C ity .
T h e b o n d s w i l l b e o f t h e d e n o m i n a t i o n o f $ 1 ,0 0 0 e a c h .
p ro p o sa l m u st be a c c o m p a n ie d
E ach
b y a c e r tifie d c h e c k fo r 1 p e r
c e n t o f th e a m o u n t b id fo r .
The
c ity at
th e
p resen t
tim e
has
n o flo a tin g d e b t.
The
t o t a l b o n d e d d e b t , i n c l u d i n g t h is is s u e , is § 8 ,7 1 4 ,0 0 0 ; s i n k i n g
f u n d , § 3 1 7 ,5 0 0 ; n e t d e b t , § 8 ,3 9 6 ,5 0 0 ;
§ 9 1 3 ,9 3 2 .
The
a ssessed
v a lu a tio n
w a te r d eb t (id d it io n a l),
fo r
18 97
is :
R eal
e sta te,
§ 8 8 ,9 8 5 ,0 0 0 ; p e r s o n a l p r o p e r t y , $ 2 8 ,7 1 5 ,0 0 0 ; t o t a l , $ 1 1 7 ,7 0 0 ,0 0 0 ;
t a x r a t e ( p e r § 1 ,0 0 0 ), § 1 8 50 .
a t a b o u t § 2 0 0 ,0 0 0 ,0 0 0 .
T h e rea l v a lu a tio n
is e s t i m a t e d
T h e p o p u l a t i o n a t t h e p r e s e n t t i m e is
e s t i m a t e d a t 2 1 0 ,0 0 0 .
The official advertisement o f this bond offering will be found
elsewhere in this Department.
L o v e l a n d , O h i o — R o n d Offering.— P r o p o s a l s w i l l b e r e
c e i v e d u n t i l 12 o ’ c l o c k , n o o n , A p r i l 1 3 , 1897, b y H a r r y W .
B r o c k , V i l l a g e C l e r k , f o r t h e p u r c h a s e o f § 4 ,0 0 0 o f 6 p e r c e n t
s t e a m fir e e n g i n e b o n d s . T h e s e c u r i t i e s w i l l b e d a t e d A p r i l
1 , 1897, in t e r e s t w i l l b e p a y a b l e a n n u a l l y a n d t h e p r i n c i p a l
w ill m a tu re a t th e ra te o f §400 e v e r y t w o y e a r s , b e g in n in g
w i t h A p r i l 1, 18 9 9 . b o t h p r i n c i p a l a n d in t e r e s t b e i n g p a y a b l e
a t t h e N a t i o n a l L a f a y e t t e B a n k o f C i n c i n n a t i , O h io . T h e
•b o n d s w i l l b e o f t h e d e n o m i n a t i o n o f $ 4 0 0 e a c h .
E a c h b id
m n s t b e a c c o m p a n ie d b y a c e r t ifie d c h e c k f o r $100, p a y a b le
to th e o r d e r o f th e V illa g e T rea su rer.
L y n n , M a s s .—Bond Sale. — O n M a r c h 2 0 , 18 9 7 , $ 6 0 ,0 0 0 o f
4 pi r c e n t t e n -y e a r b o n d s o f th is c i t y w e r e a w a r d e d t o D . W .
H o w l a n d & C o . , o f B o s t o n , M a s s ., a t 1 0 4 '0 1 1 .
T h e o t h e r b id s
r e c e iv e d w e r e as fo llo w s :
E dgerly & Crocker................................................................................103-520
Jose Parker * Co., Boston, Maas..........................- ........................ 103-4897
B lodget, M e rr itt* Co., Boston, M ass............................................ 103-316
R. L. Day & Co.. Boston. Maas........................................................ 103-237
B lake Bros. & Co., B oston. Mass.................................................... 103-270
Estabrook & Co.. Boston, M ass.........................................................103-150
E. H. R ollios & Sons, Boston, Mass . . . . . . ................................... 103*080
E. C. Btanwood * Co., Boston, Mass.............................................. 101*000
McMinnville, T e n n . —Bonds Authorized.—On March 15,
1897, the eitizens of McMinnville voted to issue bonds to the
amount r f $30,000 for the construction of water works and
an electric-light plant.
M o n t g o m e r y , A l a . —Bond Sale.—This city has issued $15,000 of 5 per c e it paving bonds. The securities are of the de
nomination of $500 each and mature at the rate of $25 per
annum.
M o n r o e , N. C.—Bond Election.—An election will be held
in Monroe to decide the question of issuing $100,000 of water
works bonds.
New H a v e n , C o n n . —Temporary Loan.—The Boston News
Bureau reports that New Haven has borrowed §350,000 in
anticipation of taxes from the Mutual Life Insurance Com
p a n y of New York at %% per cent.
N e w Y o r k —Bond News.—The Governor has signed the bill
exempting from taxation State bonds issued to pay for the
§9,000,000 canal improvement.
Bond Offering.—Proposals will be received until 12 o’clock
noon April 20, 1897, by James A. Roberts, State Comptroller,
for the purchase of §3,000,000 of 3 per cent gold canal im
provement bonds. Interest on the securities from January
1, 1897, will be payable semi annually on the first days of
January and July at the Bank of the Manhattan Company of
New York City, and the principal will mature January 1,
1912. The bonds are exempt from taxation; they are secured
by a sinking fund and are to be issued in the form of coupon
or registered bonds, as the purchaser may desire. Each bid
must be accompanied by a certified check for 1 per cent of
the amount of the proposal.
The official advertisement o f this bond offering will be found
elsewhere in this Department.
New York City.—B on d S ale.— On March 23, 1897, Ashbel
P. Fitch, City Comptroller, a w a r d e d the $929,333 97 of 3 per
cent school-house bonds to the Sinking Fund Commissiin at
par. Interest on the securities will be payable semi annually
on the first day of May and November, and the principal will
m a t u r e N o v e m b e r 1, 1 9 1 6 .
c o n s id e r e d .
629
N o b i d f o r le s s t h a n p a r
w ill
be
Bonds Authorized . — T h e B o a r d o f E s t im a t e a n d A p p o r t i o n
m e n t h a s d e c i d e d t o is s u e $ 1 ,2 5 6 ,7 4 1 98 o f b o n d s t o p a y f o r t h e
p r o p e r ty a c q u ir e d fo r F o rt W a s h in g to n P a r k a n d h a s a u th o r
i z e d a n is s u e o f $ 3 8 9 ,4 6 1 o f b o n d s t o p a y f o r t h e n e w c o u r t
h o u s e f o r t h e A p p e l l a t e D iv is io n o f t h e S u p r e m e C o u r t ,
T h e G o v e r n o r h a s s i g n e d a b i l l a u t h o r i z i n g N e w Y o r k C it y
t o is s u e $ 2 ,0 0 0 ,0 0 0 o f a d d i t i o n a l p a v i n g b o n d s .
Bond News.—T h e b ill a u t h o r i z i n g N e w Y o r k C i t y t o is s u e
§ 2 ,5 ')0 ,0 0 0 o f b o n d s t o p r o v i d e f u n d s f o r t h e e r e c t i o n o f a
lib r a r y b u ild in g to c o n t a in th e A s to r, L e n o x a n d T ild e n lib
r a r ie s h a s b e e n p a s s e d b y t h e A s s e m b l y .
N o r t h A d a m s , M a s s .—Bond News. — T h e § 2 0 0 ,0 0 0 l o a n o f
t h is c i t y w a s p l a c e d w i t h t h e C o m m o n w e a l t h o f M a s s a c h u
s e t t s , a n d w i l l b e a r i n t e r e s t a t t h e r a t e o f 3 ] £ D er c e n t in s t e a d
o f 4 p e r c e n t a s r e p o r t e d la s t w e e k .
N e v a d a C i t y , C a l .—Bond News.— A t t h e A p r i l s e s s io n a
s p e c ia l t a x w ill b e le v ie d b y th e C o u n ty S u p e r v is o rs f o r th e
p a y m e n t o f t h e § 1 0 ,0 0 0 o f s c h o o l - h o u s e b o n d s v o t e d s o m e t im e
a g o b v th e c itiz e n s o f N e v a d a C ity , a fte r w h ic h t im e th e
s e c u r i t ie s w i l l b e a d v e r t i s e d f o r s a le . T h e l o a n w i l l m a t u r e a t
t h e r a t e o f § 3 ,0 0 0 a n n u a l l y .
O t t u m w a , l a .—Bonds Authorized . — A t a n e l e c t i o n r e c e n t l y
h e l d i n t h is c i t y t h e p e o p l e v o t e d t o is s u e b o n d s t o p a y t u e
c o s t o f e r e c t in g a n e w s c h o o l b u ild in g .
P e a b o d y , M a s s .—Temporary Loan. - O n M a r c h 2 0 , 1897, a
t e m p o r a r y l o a n o f $ 8 0 ,0 0 0 o f t h e t o w n o f P e a b o d y w a s
a w a r d e d t o W e b s t e r F . P u t n a m & C o ., o f B o s t o n , M a s s ., a t
3 -5 4 p e r c e n t in t e r e s t .
T h e o t h e r b id s r e c e i v e d w e r e :
P e r cent o f
In terest.
Premium.
Curtis & M otley, Boston, Mass................................_,3-63
Rogers, Newman <fc Tolman, Boston, Mass............. 3 75
Jose Parker & Co., Boston, M ass................................3*70
Edgerly <fc Crocker........................................................ 3*61
Bond & Goodwin, Boston, Mass................................ 3-58
R L. D ay & Co., Boston, Mass................................... 3*60
Blodget, Merritt & Co., Boston, Mass .................... 3 83
Estabrook & Co., Boston, Mass.................................. 3-60
Jas. W. L ong 8treet& Co., Boston, Mass....................4*00
$3 00
3 00
1 50
P e l h a m , N . Y.—Bond Issue. — T h is m u n i c i p a l i t y w i l l s h o r t l y
is s u e $ 5 0 ,0 0 0 o f 4 p e r c e n t t w e n t y - y e a r g o l d s e w e r b o n d s .
P o n t c h a r t r a i n L e v e e D i s t r i c t , L a .—Bond Redemption.—
P r o p o s a ls w i l l b e r e c e i v e d u n t i l 11 o ’ c l o c k A M. A p r i l 20,1897,
b y M . R . S p e lm a n , P r e s i d e n t o f t h e B o a r d o f C o m m is s io n e r s ,
f o r t h e r e d e m p t i o n o f $27,000 o f b o n d s o f t h is d i s t r i c t , w h ic h
a m o u n t is t o i n c l u d e n o t le s s t h a n $5,000 o f t h e f i f t y - y e a r
b o n d s . N o b id s a b o v e p a r w ill b e c o n s id e r e d .
P o r t l a n d , H e .—Temporary Loan.—P r o p o s a ls w i l l b e r e
c e i v e d u a t i l 12 o ’ c l o c k n o o n , A p r i l 7 , 1897, a t t h e o f f i c e o f C i t y
T r e a s u r e r G e o . H . L i b b y f o r t b e d i s c o u n t o f n o t e s o f t h is c i t y
f o r t h e f o l l o w i n g a m o u n t s : $ 7 5 ,0 0 0 , $ 1 0 0 ,0 0 0 , $ 1 2 5 ,0 0 0 , $ 1 5 0 ,0 0 0
a n d $ 2 0 0 ,0 0 0 . T h e l o a n w i l l b e is s u e d i n a n t i c i p a t i o n o f t a x e s
i n s u m s o f $ 1 ,0 0 0 o r a n y m u l t ip l e t h e r e o f , a n d t h e p r i n c i p a l
w i l l b e p a y a b l e N o v e m b e r 1, 1897, w i t h o u t g r a c e , e it h e r in
B o s t o n o r P o r t la n d .
P o r t s m o u t h , Va.—Bond Offering. — P r o p o s a ls w i l l b e r e
c e i v e d u n t i l M a r c h 3 1 , 1 8 9 7 , b y t h is c i t y , f o r t h e p u r c h a s e o f
$ 1 0 ,0 0 0 o f p a v i n g b o n d s . T h e s e c u r i t ie s w i l l b e a r i n t e r e s t a t
th e r a te o f 5 p e r c e n t a n d th e p r in c ip a l w ill m a tu r e in te n
y e a r s f r o m d a t e o f is s u e .
P r o v i d e n c e , R. I . —Bond Sale.— O n M a r c h 2 5 , 18 97, D . L .
D . G r a n g e r , C i t y T r e a s u r e r , r e c e i v e d t h e f o l l o w i n g b id s f o r
t h e $ 1 ,5 5 0 ,0 0 0 o f 4 p e r c e n t b o n d s o f t h is c i t y .
B idders—
Amount.
Bid.
Commissioners o f Sinking Funds, Provi
dence, R. I............................................. . $750,000
115*500
E. H. Rollins & 8 onsand Kountze Bros. 1,550,000
114*419
Kidder Peabody <&Co. and Blodget,Mer
ritt & C o ............... .................................. 1,550,000 orany D art. 113*930
E. C. 8 tanwood & C o................................ 500,000 or any part. 113*920
Lee, Higgiuson & Co.................................1,550,000 or any part. 113*897
Paikinson & B arr...................................... 800.000 or any part. 113*873
113 810
Blake B^os. & Co. and R. L. Day <fe C o ..1,550,0)0
113*300
P c d z & Van Reusselaer............. ..............
50,000
Estabrook & Co. and Harvey Fisk 6c
Sons.......................................................... 1,550,000
113*631
N. W. Harris & Co. and Farson, Leach
& Co.
.............................................. 1,550,000 or any part. 113*579
Blake B ros"& 6 o. and R. L. Day & C o.. 1,550,000 or any part. 113*560
(
250,000 water.
114*310
I 300,o00 sewer.
113*280
Industrial Trust Co., Providence, R. I. i 500,000highways.
112*260
I 500,000 school.
111*740
.(
Average. 112*620
James W. Longstreet & Co................... 250,000 water.
112*057
Anson G M cCook......................................
5.000
Insurance Co of North A m erica............
25.000
109 -5 0
Isaac W. -Sherrill...........................
100,000
110*370
}2i 222
T h e b o n d s w e r e a w a r d e d a s f o l l o w s : $ 7 5 0 ,0 0 0 t o t h e C o m
m i s s io n e r s o f S i n k i n g F u n d s o f P r o v i d e n c e , R I . ; $ 2 5 0 ,0 0 0 t o
t h e I n d u s t r i a l T r u s t C o ., o f P r o v i d e n c e , R . I . ; $ 5 5 0 ,0 0 0 t o
K i d d e r , P e a b o d y & C o ., a n d B l o d g e t , M e r r i .t & C o ., o f B o s
to n , M ass.
T h e a g g r e g a t e o f t h e b id s w a s $ 1 4 ,8 0 0 ,0 0 0 ; t h e
a v e r a g e p r i c e o f t h e s u c c e s s f u l b id s , 111*7509; t h e n e t r a t e o*
in t e r e s t 3 2 3 p e r c e n t . T w o h u n d r e d a n d f i f t y t h o u s a n d d o lla i
o f t h e s e s e c u r i t ie s a r e w a t e r h o o d s , $ 3 0 0 ,0 0 0 s e w e r b o n d s ,
$ 5 0 0 ,0 0 0 h i g h w a y b o n d s a n d $ 5 0 0 ,0 0 0 s c n o f i b o n d s . T h e s e c u
r it ie s a r e d a t e d A p ril 1 , 18 97; in t e r e s t is p a y a b l e s e m i - a n n u
a l l y o n t h e fir s t d a y s o f A p r i l a n d O c t o b e r , a n d t h e p r i n c i p a l
w i l l m a t u r e A p r i l i , 1927, b o t h p r i n c i p a l a n d in t e r e s t b e i n g
p a y a b l e in g o l d . T h e l o a n is in t o e f o r m o f c o u p o n o r r e g is is t e r e d b o n d s a s t h e p u r c h a s e r m a y d e s ir e , t h e c o u p o n b o n d s
b e i n g p a y a b l e , b o t h p r i n c i p a l a n d in t e r e s t , a t t h e o f f i c e o f t h e
H30
THE
C H R O N IC L E .
City Tmisun r of Providence or at the National City B ink of
New York.
The total indebtt dneas of the city on March 1, 1887, ws<
$16,814.8S>; sinking lur.ds, $3,530,979; net debt, 818,288,819
T h e»*w s»«J valuation for 1390 wax *174.23 2.5iW: tax r*-*
(per $1,000), $16 »u. The population for 1897 is estimated at
154.0(0.
B o n d s P r o p e r d .— Bor da o f Providence to the amount of
SOU),(00 are under consideration.
P nt-in-lia). Ultlo.— B on d O ffering —P,opos->G wdi (■>.. re
ceived until 7:80 r, M., April 15, 181)7, by Geo. P. Milter,
VillageClerk, for thepuiehaso of $0,088 75, of 6 per cent park
bonds. The securities will be dated April 15. 1897, interest
will be payable setni-annually and the principal will mature
as follows: $1,088 75 on April 15, 1902, and $8,000 at the rate
of $1,000 every two years from April 15, 1904 to 1918 inclus
ive, both principal and Interest being payable at The Union
Savings Bank Company of Toledo, Ohio. The bonds will be
of the denomination of $t,000 except one bond of $1,038 75.
No bid for less than par and accrued interest will be con
sidered.
( J n e e n s C o u n t y , N . Y .—Bond Offering — P r o p o s a l s w i l l h e
r e c e i v e d u n t i l 1 2 o 'c l o c k n o o n , M a r c h 2 9 , 1 8 9 7 , h y C b a s . L
P h i p p s , C o u n t y T r e a s u r e r , f o r t h e p u r c h a s e o f $ 6 1 8 ,0 0 0 o f 4
p e r c e n t g o ld road b o cd s,
T h e s e c u r it ie s w ill h e o f t h e d e
n o m in a tio n o f $500 e a c h ; in te r e s t w ill b e p a y a b le s e m i a tm u a l l y o n t h e fir s t d a y s o f A p r i l a n d O c t o b e r a t t h e o f f i c e o f t h e
C o u n t y T r e a s u r e r , a n d t h e p r i n c i p a l w i l l m a t u r e A p r i l 1,
1917
T h e l o a n w i l l b e is s u e d in t h e f o l l o w i n g s - r i e s : S e r ie s
H . $ 5 0 ,0 0 0 ; S e r i e s I . § 6 0 .0 0 0 : S e r ie s K , $ 4 5 ,0 0 0 : S e r ie s L ,
$ 4 5 ,0 0 0 ; S e r ie s M , $ 1 7 ,0 0 0 ; S r ie s N , $ 7 0 0 0 0 : S e r i e s O , $ 7 ,0 0 0 ;
S e r ie s P , $ 7 5 ,0 0 0 ; S e r ie s Q , $ 2 7 ,0 0 0 : S e r i e s R , $ 4 0 ,0 0 0 : S e r ie s
S , $ 6 0 ,0 0 0 : S e r i e s T , $ 5 5 ,0 0 0 ; S e r i e s U , $ 1 7 ,0 0 0 ; S e r i e s V ,
$ 5 0 ,0 0 0 .
B a c h p ro p o s a l m u s t b e a c c o m p a n ie d b y a c e r lifie d c h e c k
f i r 1 0 p e r e r n t o f t h e a m o u n t h id f o r , o r i f t h e b id h e f o r a n
s r r i c u n t t x c f i d i r g $ 1 0 0 ,0 0 0 , a c h e c k f o r $ 1 0 ,0 0 0 w i l l b e a c
c e p t e d .1 T h e b o n d e d i n d e b t e d n e s s o f t h e c o u n t y a t t h e p r e s
e n t t i m e d o e s n i t e x c e e d $ 1 ,2 3 1 ,0 0 0 .
T h e assessed v a lu a tio n
o f r e a l, a n d p e r s o n a l p r o p e r t y a s o f D e c e m b e r , 1 8 9 6 , is
$ 8 5 ,3 4 5 ,1 1 1 .
[You
LX IV.
N. W. Harr la A Co . Chicago, tl! .............................. ................. *15,003
Ohio Saving* Bank. Ootmnbu*. Ohio ....................................... 14,980
I>ie
Denison A P rior, 'ievelatul, O h io .................................. 14,970
ftoaaongood A Mayer, Cincinnati. O h io ...................... .............. l t.aeo
W. J Hayes * 80 u s , C ievelai it, O h io................. ..................... 11,939
Fnrnor.
A Co., China go. Ml................
14,933
The l.aiupri-ctat Bros, Co., 0<ev.-land. Ohio ...........................
11.911
Rudolph Klnyttolte <fe Co , CloelaMiiU, Ohio ............ .............. 44,908
C. II. Whit* A. o ... New Y ork, X. V .....
........................ . i 4,875
Fourth N it Inn u Bault, ColftOlbns, O h io ................................
14.855
Manoo, t.ewis A Oo., UWoago, Hi
........................ . ......... I t,827
S eltzer A Oo.. ro'm t". Onto........................ ...... ......................... 14,760
B. II. Kean, CbttMffo, III......... ...................................................
11,103
50
00
20*
00
40
OO
50
oo
OO
oo
40
50
75
The securities bear interest at the rate of 5 per cent aad
mature in from nine to thirteea years from date of issue.
Southington, Conn.—Bond News —A proposition made by
the Southington Savings Bink to accept the town's interestbearing orders at 4 per cent will bs discussed at the next town
meeting. If this proposition is accepted the$100,000 o f bonds
now under consideration to fund the to vn 'j indeotedness will
not be issued.
Snnbnry, Pa . — B on d Sale . - I t is reported that this mu
nicipality has sold $15,000 of 4 per cent binds at lOO'S).
Turlock Irrigation District, rial.— B on d S ale —Bonds o f
this district to the amount of $472,500 have been sold io Rob
ert Fredericks, of San Francisco. Cal., at 90. The securities
are da'ed January 1 1893; interest at the rate of 6 per cent is
payable semi-annuaPy and the principal will mature in from
ten to twenty years from date of issue.
Wallham, Mass.— B on d N ew s .— The $30,000 of 4 percent
water bonds to be issu d hy the citv of Waltham will mature
April, 1917, City Treasurer E J Smderson writes that the
date of sale has not yet oeen determined.
Water tow s. Mast.—Temporal"/ Loin.—Propota's will be
received uotil 13 o’olo:k n ooi to -iiy for tie due m at o f
$130,000 of six months' notes of this to va,
W allingford, C ton .—Bond Sale.—On March 81, 1897, the
following bids w-<-s r-ceived for tti) $3 1.00 i of no tp >a sink
ing fund bonds offered for stle by the city o f W allingford:
Geo. A.FeroaM A Co.. Biaton, Mass.........................................106-639
Columbia PraseCo.. Middletown, Conn............................... ..105-920
E. ft. Gay & Co., Boston, Mass...................... .........................105-800
ft. L. Day & Co., Boston, Mass .. ......................... .............. 105-349
B e n s e e l a e r C o u n t y , N . I —Bond Sale.— O n M a r c h 2 5 ,1 8 9 7 , Lee. Higglosoti & Co.. Boston, Vfa«s........................................ 105-270
Delta,
Denison A Prior. Boston, Mass................................ . 105-188
J o h n D t ti, C i u n i y T r e a s u r e r , r e c e i v e d t h e f o U o w i i g b i d s f o r
N. IV, Harris & Co., Boston. Mass............................. ........... 105-169
t h e $ 1 1 0 ,0 0 0 t f
p e r c e n t s i n k i n g f u n d b o n d s o f t h is c o u n t y • Street. Writes & Co.. New York N
T Y ....................................-05-070
C. H. White* Co.. New (fork, N. Y ............................
101-910
Bidders
A mount.
Bid.
E. H KoMias & Sons B >sron. Mtss........................................ 404-739
Troy City National Bank, Troy. N. Y ................... *10,( 00
100-24
Eaw. C. Jones Co., New York, N. V ........................................ 404-600
(maturing 1898)
E. D. Shepard &Co , New York, N. Y ............................ .....102-930
T roy City National Bank, Troy, hT. Y ........................SlO.oCO
100-48
Parson, Leach & Co., New York, N. 5'........................ ............102-5'O
(maturing 1899)
E C. Stanwoorl & Co.. Soitoa, Mass......................... ...........402-170
T roy City National Bank, T roy, N. Y . ................. $10,000
100-71
8. A. Kean, Chicago, 411............ .............................................100-000
(maturing 1900)
United National Bank. T roy, N. Y .............................SiO.oOO
100-56
The loan was awarded to Geo. A Fernald & Co. The bonds
(maturing 1901)
bear interest at the rate of 4 p r o m t , a d hr principal wilt
United National Bank, T roy, N. Y .......................... *10,000
100-65
mature in thirty years fro n d u e of issue.
(maturing 1902)
T roy Savings Bank, T roy, N. Y .................... - ........$5Q,UCO
101-05
Bond Offering.—Bids will be received until Aoril 5. 1897,
(maturing 1903 to 1907 tool.)
Jas. W. L ongstreet A Co., Boston. Mass................. *100,000
100-263 by this to va for the pure rasa of $19,0)0 of 4 percent 30-year
Isaac W. Sherili, Poughkeepsie, N. Y ..................... *100,000
100-133 school district bonds.
8. A. Kean, Chicago, 111............................................ $10O,0GO
100 000
T h e b o n d - w e r e a w a r d e d a s f o l l o w s : $ 8 0 ,0 0 0 t o t h e T r o y
C i t y N a t i o r a l B a r k o f T r o y , N . Y . ; $ 2 0 ,0 0 0 t o t h e U n i t e d
N a t i o n a l B a n k o f T r o y . N . Y . . a n d $ 5 0 ,0 0 0 t o t h e T r o y S a v i n g s
B ank o f T roy, N . Y .
T h e s e c u r i t i e s a r e d a t e d A p r i l 1 , 1897,
in t e r e s t is p a y a b l e s e m i - a n r u a l l y o n t h e fir s t d a y s o f A p r i l
a n d O c to b e r , a n d th e p r in c ip a l w ill m a tu r e a t th e r a t e o f
$ '0 , 0 0 0 e a c h y e a r f r o m A p r i l 1, 1 8 9 8 . t o 1 9 0 7 , i n c l u s i v e .
T b e l o a n i s in t h e f o r m o f r e g i s t e r e d b o n d s o f $ 5 ,0 0 0 e a c h a n d
is p a r t o f a n a u t h o r i z e d is s u e o f $ 2 5 0 ,0 0 0 .
I t is p r o v i d e d t h a t
a ll f u n d s d e r i v e d f r o m t h e la t e C o u n t y T r e a s u r e r , o r f r o m h is
p r o p e r ty , o r t h e p r o c e e d s o f a i-y a c t io n b r o u g h t b y th e c o u n t y
b y r e a s o n o f a n y l i a b i l i t y g r o w i n g o u t o f h is d e f a l c a t i o n ,
ti a l l b e h e l d f e r t h e p a y m e n t o f t h e p r i n c i p a l a n d i n t e r e s t o n
th e se b o n d s as th e y b e c o m e d u e .
T h e t o t a l d e b t o f t h e c o u n t y , i n c l u d i n g t h is is s u e , is $ 7 4 7 ,0 0 0
a r d i h e a s s e s s e d v a l u a t i o n f o r 1 8 9 6 , $ 7 9 ,0 1 3 ,5 7 7 .
T h e p o p u la
t i o n f o r 1 8 9 0 w a s 1 2 4 ,5 1 1 .
R i c h m o n d C o u n t y , N . Y .—Bond Offering. — P r o p o s a l s w i l l
b e r e c e i v e d u n t i l 1 o ’ c l o c k P . M . A p r i l 1 4 ,1 8 9 7 , b y t h e C o u n t y
B e a r d o f S u p e r v i s o r s , S t a p l e t o n , N . Y . , f o r t h e p u r c h a s e o i’
$ 1 9 0 ,0 0 0 o f g o l d r o a d i m p r o v e m e n t b o n d s , e a c h b i d d e r t o s t a t e
t h e r a t e o f i n t e r e s t u p o n w h i c h i d s o f f e r i n g is b a s e d .
The
s e c u r i t ie s w i l l b e d a t e d J u n e 1, 1897, i n t e r e s t w i l l b e p a y a b l e
s e t u i-a D n u a lly a n d t h e p r i n c i p a l w i l l m a t u r e J u n e 1 , 1 9 2 2
T h e s e c u r i t i e s w i l l b e o f t h e d e n o m i n a t i o n o f $ 1 ,0 0 0 e a c h
a n d w i l l h e is s u e d in t h e f o r m o f c o u p o n o r r e g i s t e r e d b o n d s ,
a s r ite p u r c h a s e r m a y d i e i r e .
B i d s w i l l a l s o b e r t -o -iv e d i n ( h e s a m e m a n n e r a t t h e s a m e
t im e a r d p la c e b y th e B o a r d o f S u p -r v ia o r a f o r th e p u r c h a s e
o f § 1 2 ,0 0 0 o f g o l d r o a d i m p r o v e m e n t b o n d s o f t h i s c o u n t y .
T h e s e c u r i ! i " s w i l l b e ia s u r d in t h e s a m e f o r m a s t h o s e d e
s c r ib e d a b o v e ,
r*
°
S t . P a u l , .M in n . — Temporary Loan . — T h is c i t y h a s a w a r d e d
$ 5 0 ,1 0 0 o f 4 | e r c e n t c e r t ific a t e s o f i n d e b t e d n e s s t o t h e F i r s t
N a t i o n a l B a n k . <f S '. P a u l , M i n t .
T h e s e c u r i t t i k r r * i.-r u td in m i r i p a t i o n o f t h e c o l l e c t i o n o f
t h e t a x e s f o r 1 8 9 7 : t i n y a r e u a t i d M a r c h 15, 1897, i n t e r e s t ip a y a b l e s e n tl-a n r u a ily a n d tin* p r i n c i p a l w ill m a t u r e J u n e 15,
1 8 9 8 , T h e c e r t i f i c a t e s a r e o f th e <h n o m i n a t i o n of $5 0 0 e a c h .
S a n d u s k y , O h i o . — Bond Sale.— Ort M a r c h 2 4 , 18 97, t h e f o l
l o w i n g b i d s w e r e r e n i v e d f- r 'h e 8 1 4 ,0 " 0 o f w a t e r - w o r k s r e
f u n d i n g h ot d a o f t h is e i t y :
Westfield, Mass.—Bonds Proposed.—Water bonds of Westfield to the amount of $100,000 are under consideration, and
the question of issuing the same will be decided at the townmeeting in Aoril next.
West 'ioriorfleld, Mass. — Bond Sile —-This city has
awarded SIK5.000 of 4 per cent thirtv-vear brads to E. C.
Stanwood & Co , of Boston, Miss , at 108-599. Thy other bide,
received were:
K. L Day & Go.. Boston. Mass .............. ...........................................108-567
Blake Bros. & Oo. Boston. M iss.. ......................... ........................ 108-440
Estabmnk & Oo . Boston. Mass........................ ................................. 10*-150
E. 41 Hollins A Sons, Boston, Mass........................... .......................107-779
Cushman, Fisher & Phelps. B os’ on, Mass.................... .................. 107-737
E. H. Gay & Co., Boston M iss.
................... ................................. 107-098
Geo. A. Fernald & Co., Boston, Mass ............................................. 107-650
Jas. W. L ongstreetA Co.. Boston, Mass ..... ................................... 107-575
N. W. Harris & Oo. and Farson, Leaoll & Co., New Y ork, N.Y 107-559
Belaud, Towle & O o„ Boston, M a s s ........................ ........................ 107-430
Blodget, M e rr itt* Co,, Boston, Maes.......... ...................... ...........106-660
West Point, Miss. — B on d Sale .—On March 15, 1397, the
$20,000 of water bonds of this city were sold at par. The se
curities are dated May i, 1897: they oear interest from June 1,
1897, at the rate of 6 percent, payable semi annually on the
first days of June a u i D :ct nber,' a a i the principal will m a
ture May 1, 1917.
White County, 111.— B on d C a ll .—Notice has been given by
L. S. Blue, County Treasurer, that $150,000 o f bonds of this
county have been called for payment on April 1, 1897, at the
American Exchange National Bank of New York City, after
which date they will cease to bear interest. The securities
are of the denomination of $500 each, numbered from 1 to 300.
inclusive, dated July 1,1885, payable July 1, 1935, and sub
ject to call after ten years from date of issue.
The official ad vertisem ent o f this bond call w ill be f o u n d
elsewhere in this D epa rtm ent.
While Sulphur Springs, Mont.— B on d E le ctio n .— A propo
sition to i.-sue bonds for the purpose of constructing water
works will be put to a vote of the people of this municipality
in tbe a( ring.
W ilmington, Del.— Bonds P rop osed .—Bridge and sewer
bonds of tl is city to the amount ot $125,000 are under cousidera-ior.
J HE
M arch 37, 1897.J
CHRONICLE
ST A T E AND CITY DEBT CHANGES.
W e s u b jo in r e p o r t s a s
t h e la s t p u b l i c a t i o n
of
to
our
m u n ic ip a l
State
d e b ts r e c e iv e d
and
Cit y
Su ppl e m e n t.
S o m e o f th ese r e p o r ts a re w h o lly n e w a n d o th e r s
of i n f o r m a t i o n
a d d itio n a l to th o s e g iv e n
in
s in c e
c o v e r it e m s
tn e Su pplem en t
a n d o f in te r e s t t o in v e s t o r s .
B rook lyn
fo llo w in g
N.
Y .— F r e d e r i c k
fin a n c ia l
sta tem en t
W . W u bstu r, M a y or.
of
th e
The
C ity o f B r o o k ly n has
b i e n c o r r e c t e d t o M a r c h 1 , 18 9 7 , b y m e a n s o f a s p e c ia l r e p o r t
t o t h e C h r o n ic l e f r o m G e o r g e W . P a lm e r , C it y C o m p t r o lle r .
The city n ow covers tlie entire area o f the old county o f Kings on ac
count o f the consolidation o f the county governm ent with that o f the
city on January 1 ,1 8 9 6 , under the provisions o f Chapter 954 o f the
Laws o f 1895. Under the provisions o f this act “ the debt o f the said
coun ty shall not be deemed to be or be included as a part o f the
debt o f the City o f B rooklyn, withiu the meaning o f the provision of
the Constitution o f the State o f New Y ork lim iting the pow er o f cities
to incur indebtedness.” [See Ch ronicle , vol. 62, p. 49.] The towns of
Flatbush, New U trecht and Gravesend were annexed to the City of
B rooklyn in 1894 and the tow n o f Flatlands became a ward o f the city
on the first day o f January, 1896; but the city does not assume any
obligations incurred by the tow ns prior to their annexation.
-Principal.LO AN S—
'— Interest.— . When Due.
Outstand’g.
NAM E AN D P U R P O SE .
Rate. Payable.
July 1, 1923 $1,650,000
Arrearage 10-40s................. 4
J & J
May 1, 1924
700.000
do
10-40s................. 3 ^ J & J
Subject to call.
July 1, 1924
549.000
J & J
do
county t a x e s ... 4
July 1, 1905
43,000
J & J
A sphalt repaving bon ds... 4
63 L
-Principal.<— Interest.—
When Due.
Outstand*g.
Rate. Payable.
L ocal [m pr’ m ’t (C on.)... 3ieg J & J
Jan. 1, 1915
$100,000
do
do
Jan. 1. 1916
......... 3*c"gJ & J
300.000
t 5 July 1, 1905-’ 10 )
Eighth ward im prov .... 1T
d l $ 100 ,00 0 yearly. \ 600.000
J
July 1, 1911
do
do ..........
50,000
T 5 Jail. 21, 1917-’20 )
School im provem ent.. ..U
J * $ 1 00,000 yearly. $ 400.000
5 Jan. 1, 1916-’23 >
do
do
J & tX
$ 1 00 ,00 0 yearly. < 800.000
O f this loan $758,000 is in the sinking fund.
Museum Arts & Sciences. 3 x2g.J &
Jan. 1, 1925-26 200,000
92.000
<io
do
3^2 J &
Jan 1, 1927
LOANS—
NAME AND PU RP O SE
J
Pa
rk
B
ond s—
East Side P ark ............ ..
Prospect Park.................
do
do .................. ..
do
do .................. ..
do
do ................... ..
do
do ................... ..
Park purchase bon ds... .
Park im provem ent....... .
do
do
do
do
R eindexing Bonds—
Con. gold stock ...............
do
do
.........
8e
w er
B
onds
4
7
7
7
7
j
& J
J <& J
J & ,r
J & J
.1 & .1
6
J <fe J
3
J & .J
4
J & J
3ic J &. J
3 icg J & J
3^ 4 & J
3*cgJ & J
Jan. 1 ,
50.000
July 1 , 1915
6.561.000
July 1 ,
134.000
Jau. 1 ,
500.000
Jau. 1 ,
410.000
1.092.000
July 1 ,
Jan. 1 .
Jan. 1 . 1909-’ 10 100,000
Jan. 1. i91 1-’ 12 s.f. 100,000
July 1, 1913 w.f.40,000
Jan. 1, 1927
J a n .l, ’ l l -’ 12
s.f.52,500
134,500
:
150.000
1897
Sewerage fu n d ................. 4
J & J
s..f.30,000
Jan. 1, 1898
do
..............11 4
J & J
s.t.30,000
Jan.
1,
1899
do
..............IT 4
J & J
12,0 00
Jan. 1, 1900
do
................. 3 ^ 4 tte 4
24.000
May 1, 1901
do
................. 3h?.gJ & 4
Aug. 6 , 1916 s . f . 40,000
S e w e r................................ 3*cg J & J
250.000
Jan. 1, 1925
do Con. g. stock....... 3 ^ 4 & 4
75.000
Jan. 1, 1936
do
................. 3ic 4 & 4
100 .00 0
Jan. 1. 1936
do
3L2g J
& J
Jan. 1, 1898 s.f. 1 00 ,00 0
do
................. 3 ^ 4 & 4
Nov. 1, 1897 s.f. 16,000
Sewerage,Flatb.S.Ases.IT 3 ^ M &N
Aug. 1, 1900
s.f. 10,0 00
do
H 3*c J & J
B r id g e b o n d s —
Aug
1 ,1900-’0 6 )
July
1,
1905
405.000
B rooklyn City bonds 1 7
35,000
do
do
11 3ieg. F & A $5,000 yearly. )
July 1, 1906
400.000
Of this loan $15,000 is in the sinking fund.
July 1, 1907
345.000
J
completion o f bridge. ([7
,
Ob. P i a 5 A u g .l, 1907-’ 10>
July 1, 1908
100.000
7
J
do
40.000
d0
do
31a F & A |$10,000 yearly. \
July 1, 1908
260,000
J
....... 6
do
do
2 ,0 0 0
Aug. 1, 1910-’ l l
July 1, 1909
do do Bond 8ll
3^ F & A
400.000
J
do
----- 6
do
12.000
Aug.
1,
1912-M3
July 1, 1910
440.000
do
do
IT 3*c F & A
J
do
....... 6
do
30.000
Aug. 1, 1914-’ 19
do
do
113*c F & A
July 1, 1911
400.000
J
do
....... 6
do
6 ,0 0 0
Aug. 1. 1920
do
do
If 3 ^ F & A
July 1, 1912
400.000
J
do
do
....... 6
July 1, 1914
350.000 Sew’agefund K nick.A v.se’r 3*c J & J July2,’97,to 1905> 256.000
J
do
do
....... 6
$29,000
yearly.
>
July 1, 1916
300.000
J
do
....... 6
do
49,161
do
do
3
J & J J u lyl,1 9 0 6 & ’07
July 1, 1917
500.000
J
....... 5
do
do
July 1, 1908
s.f.90,000
Main sewer relief, e tc —
3
J & J
July 1, 1918
250.000
J
....... 5
do
do
3
J
&
J
July
1,
1922
s.f.117,000
do
do
July
1,
1919
810.000
5
J
do
.......
do
312 J <fe J
1933
s.f.50,000
do
do
July 1, 1920
319.000
J
do
....... 5
do
o
T o T <Julyl,1923,to ’ 2 6 )
400 000
July 1, 1921
371.000
J
do
....... 4
do
do
do
3
J
&
J
X
$100,000
yearly.
\
July 1, 1922
400.000
J
do
do
....... 4
3*c
J
&
J
1922
to
1927
643,000
do
do
200.000
July
1,
1923
4
J
do
.......
do
O f this loan $250,000 is in the sinking fund,
257.000
Jan. 1, 1925
4
J
do
do
2 0 0 ,0 0 0
do
.
.
.
.
4
J
&
J
1931
&
1932
do
300.000
July
1,
1927
4
do
.......
J
do
50.000
Jan. 1, 1925
A u xilliary(con .g.stk .) 3*c 4 & J
356.000
July 1, 1928
J
do
....... 4
do
168,000
Jan. 1, 1^36
3*cg.J &
do
do
50.000
July 1, 1900
J
N ew York Bridge ....... 7
50.000
Jan.
1,
1936
3*cgJ
&
do
do
July 1 , 1901-’04
400.000
J
....... 7
do
do
Twenty-sixth and adja
$ 1 0 0 ,00 0 year.y
250.000
1917-’ 19
4
J &
cent
wards..
71.000
July 1. 1905
J
do
....... 7
do
400.000
1920-’23
......... 4
4
do
do
128.000
July 1, 1906
J
do
....... 7
do
1 00 .00 0
Jan. 1, 1926
........ 4
J
do
do
101,000
July 1, 1907
J
do
....... 7
do
Jan.
1,
1915-’
16
200,000
.........
3L
2
J
do
do
50.000
July
1,
1908
7
j
do
.......
do
45.000
Jan. 1, 1918
......... 3L2g .j
do
do
100,000
July 1, 1909
do
....... 7
j
do
150,000
Jan. 1, ’24-’25
do
1892 3ic 4
do
100,000
July 1, 1910
J
do
....... 7
do
50.000
Jan.
1,
1925
do
do
......... 3ic 4
50.000
July 1, 1911
do
....... 7
J
do
1 0 0 ,0 0 0
Jan. 1, I f 27
do
do
......... 3icg.4
T $ July 1, 1912-’ 16 \ 500.000
149,000
J
do
....... 7
Jan.
1,
1914
do
do
do
......... 3g. 4
J \$ 1 0 0 ,0 0 0 yearly. ]
91.000 S i t e a n d B u i l d i n g L o a n s :
July 1, 1917
J
....... 7
do
do
105.000
( J a n .l,'98, to 1903 ) an o o o
July 1, 1918
J
do
....... 7
do
J & J I $ 5 ,0 0 0 yearly. J *L40,uuu
Fourth Precinct station.. 3
104.000
July 1, 1919
J
do
....... 7
do
200.000
5 Jan. 1,1924
July 1, 1920
24 to ’27,
’27 ( 40,000
J
do
....... 7
do
M emorial m onum ent___ S'ag.J & J X $ 10,000 yearly, f
181,000
July 1, 1921
J
do
....... 7
do
154.000
July 1, 1922
do
Warren Pedestal 3 kg. J & J Jan. 1, 1900
.7;*/.^-9.9.1!
J
do
....... 7
do
Municipal site.................. 3
J & J Ju lyl,1914-’15ifc 16sf.265,000
65.000
July 1, 1924
J
do
....... 7
do
112.000
Public market.................. 4
J & J Jau.1,1920,t o -23
1,209,000
Jail. 1, 1936
do
....... 3>eg J
do
40.000
do
do .................. 3 k2g..T & J Jan. 1, 1924
90,000
Jau. 1, 1922
d o terminal im prov s —
3*2 J & J
do
do ............... IT 3
J & J Jan..1,,1917,-18 &G9 750,000
600.000
do
do
....... 3ks J
Julyl,1920,to
’24
(
*
Public site and const’et’n 3
J & J $ 1 0 0 ,0 0 0 yearly. S 500,000
July 10,1925 ' 100,000
do
do Con.g. stk. 3^2 J & J
Mar. 12,1926
60,000
Of this loan $370,000 is iu sinking fund.
do
do
3kig ........
Jan “ l , 1920
100,000
Jail. 1, 1922-’25 360,000
J & J
School building............... 4
J <fc J
....... 3
do
do
do
do 1._. ......... 4
J A J Jan. 1, 1920 to -22 250,000
Of this loan $60,000 is iu the sinking fund.
Jan. 1, 1918
100,000
do
do ....189211 3k!
J A J
A pproach---- 4
J & J
July 1, 1925-’27
do
Jan. 1, 1919
100,000
do ....... 3*c J A J
Jau. 1, 1923-27 982,000
do
do ....139211 3k!
J & J
do
Jan. 1, 1923
40,000
Of this loan $82,000 is in the sinking fund.
do
do ............
3k! J & J
Jan.
1,
1923-24
s.f.200,000
July
1,
1923-27
500,000
do
do
.................
3*2
J
&
J
3*c J & J
do
do
„ J 1, —
100,000
r.f.18,000
Jan.
1928
do
do ................. 3k! J & J , Jan. 1, 1925
do
3ic J & 4
do
Jan. 1, 1925
32,000
70.000
do
do ...........1894 3k!g,J & J
Jan. 1, 1929
do
3ic J & J
do
J a n . 1, 1924-26
250,000
25.000
Jan. 1, 1935
do
do ........... 1894 3kig,J & J
New E. R. Bdg. con. g.stk, 3ic J & J
Jan.
1,
1935
218,000
150.000
do
do
.
.
1895
3>sg.J
&
J
Jan.
1,
1936
do
do
-- 3 % J & J
Jan. 1, 1936
232,000
332.000
Jan. 1, 1937
do
do ............... 3 r2 g.J & J
do
do
-- 3 leg J & 4
Jan. 1, 1930 s f 100,000
040.000
do
do ........... 1895 3k!g,J A J
N ov.10, 1897
C e r t , o f I n d e b t e d n e s s . . 3*egJ & 4
1917-1921
266,000
30,0C0
do
do ............1T. 3
J & J
■
Jan. 1, 1900
do
do
.... 3 *cg 4 & 4
30.000
Of this loan $162,000 is m the sinking fund.
Jau. 1, 1901
do
do
_ 3 ie g J & 4
' 1897 to 1905 J s fl6 0 ,0 0 0
24.000
May 1, 1901
3 ie g J & 4
do
do
—
& J £ Part yearly
Sold’ rs’ and sail’rs’ m on’t
C o u n t y D e f ie n c y —
_
,
,
100,000
June, 1925
48.000
& J
4
do
do
Con. gold sto ck ................ 3 !e g J & J
Jan. 1, 1926
50.000
Sept. 14,1904
700,000
& J
Station bouse.................... 4
do
do
... 3ieg J & J
Jan. 1, 1936
s.f.14,000
Jan.
21,
1905
A J
do
do ..................... 3k!
I m p r o v e m e n t B o n d s .— Various purposes.
s.f.1,000
Dee.
17,
1905
s.f.$5,000
&
D
3
>
-2
do
do
.....................
City Hall im pts............... 3*c J & J
Jau. 1, 1393
Mar. 16,1906 s.f.10,000
95.000
J
do
do ..................... 3k!
- _
do
do
.............., 3 ie g J & 4
Jan. 1, 1920
30.000
May 1, 1906
s . f . 35,000
do
do ..................... S^ag.J & J
do
do
................. 3ieg J & J dan‘
4929
s.f.4,000
Oct. 29, 1906
25.000
do
do ..................... 3kjg.J & J
do
do
.............
3 * cg J & 4
Jan. 1, 19—1
Gravesend Local Impts.
do
do
.. .
in t. due on Grav. b o n d s ,
Local im provem ent.......1T
do
do
do
do
do
do
do
do
do
do
do
Ta
x
C e r t if ic a t e s —
3 ‘ag.J A J / ^lOO^OOO^early^ 300,000
City p u rp os es...................
County p u rposes..............
3k! J A D
Deo. 17,
1935s.f.13,000
3kig J & J
J a ^ 1, 1936
^ 1 ,^4 - W a l l a b o d t M a r k e t —
do
Con. stock,
4
( Feb. 13, 1904--16 1 i 3 0 0 ,000
do
Con. stock.
. . . . . . ,1 $
iii/in
nnfi
1 0 0 ,00
0 TTOQi'lr
yearly. ( ’
do
do
.....
T o T 5 Jan. 1, 1916-’24
900,000
do
do
bonds.
do fu n d ,....... 3
J & J x $ 1 00 ,00 0 yearly.
W a l l a b o c t B on d s—
Of this loan $500,000 is in the sinking fund.
do
do
.....
340,000
do
......... 3*2 J & J
1918 to 1921
do
do
.....
Of this loan $140,000 is in the sinking fund.
J
& J
Jan. f , 1921
*.f.7,000 W a t e r B o n d s —
do
Water bonds..........
r A I SJau- 1, 1920-’22 1 300,000
do
do .......... .........
do Laws o f 94
J
J ) $ 100 ,00 0 yearly, i
do
do .......... ..........
T J. T s Jan. 1, 1925--28 ) 400,000
do
do .......... .........
do
J
J ( $ 100 ,00 0 yearly, j
'
do
do .......... .........
j
*
j
j a n . 1 , 1929
3 o,000
do
do
do .......... .........
3h
J A J
Jan. 1, ^ f^ s ff O O .O O O
do
do
do
.......... ........
3hgJ
A J
Jan. 1, 1930
100-000
do ..........
do
doL aw 80f951l 3*cgJ i 4
Jan. 1,' 1914
5g................
April 29, 1897
5 g .....................
J u n e 1 6 ,1 8 9 7
2 , 0 0 0 ,00 0
1 , 0 00 ,00 0
3ki J A
3k! J *
3iag.J
3k!g J &
Jau.
Jan.
Jan.
N o V.
1, 1903
1, 1925
1, 1925
10, 1921
s.f.10,000
s.f.25,000
15.000
25.000
3 k g .J &
3kig.J &
Jan. 1, 1925
Jan. 1, 1926
»X 7 0 ,0 0 0
65,OW
7
7
7
7
7
7
Jan.
Jan.
Jan.
July
Jan.
July
July
July
287.000
60.000
87.000
100.000
341,000
97.000
07.000
2,715,000
1,
1,
1,
1,
1,
1,
1,
1,
1904
1906
1909
1909
1910
1910
1912
1899
TH E
632
LOANS—
C H R O N IC L E .
.— Interest.— . .------------ Principal.-----------
NAME AND PURPOSE.
Hate P a ya b le.
W hen D u e.
O ulstand'g.
W ater bonds (Cod . ) ............ 6
J A J Jan. 1, 1002
$1,229,000
do
do ....................... 0
J A J Jan
1. 1904
200,000
da
do ....................... 6
J & J Jan, 1, 1900
30,000
do
do ....................... (3
J & J Jau. 1, 1907
448,000
do
do ....................... 6
J & J Jan. 1, 1909
100,000
.T & J 1910 to 10M
4,091,000
do
do ....................... 4
do
do
1892 31a J & J
Jan. 1, 1911
400,000
do
do
1892 3% J & J
Jan. 1, 1912
1,500,000
do
do .................... 3 *sg J A J
1013
30.000
do
do ........................ S%g J & JM ar., 1918
203,855
do
do ........................ S*tK J A J
Ang, <1, 1918
10,000
do do C on, g. stk. 3»a
J & J Jao.
1 . 1925
350,000
350,000
do
do .............'......... 3>a J A J Jan. 1, 1930
do
do ....................... 3>aKJ *
J
Jan. I. 1937
750,000
do
do ....................... 3
J & J Jau. 1, 1905 A ’00 1,000,000
do
do ....................... 3
J A J July 1. 1908
800,000
do
do ....................... 3
J A J Jan. 1, 1909
600,000
do
do ....................... 3
J A J
Jan. 1, 1912
125 000
do
do ....................... 3
.TAJ
Jan. 1, 1913
420,000
T A X F R E E .— Certain loans of tlie c ity of B rooklyn are exem pt from
taxation, and wlioro the fact is know n to us we have added a paragraph
m ark (If) to the title of the loan. Th e school building bonds are ex
empt from local ta x only.
INTEREST. -In te re s t Is paid in Brooklyn.
T O T A L DEBT, SINKING FUNDS, E t c —
M ar. 1,1897.
Ja n , 1, 1896.
Ja n . 1, 1895.
O rd in ary debt.............................................
$33,023,161
$35,207,161
W ater debt...................................................
16,196,000
15,946,000
700,000
2,229,361
Tem po rary debt.........................
T a x certificates..........................................
2,804,361
1,200,000
IVOL. LX1V.
Th e debt of the olty of Providence, less the sinking fund and water
debt, is 3-51 per cent of the assessed valuation of the olty.
Th o notes representing the floating debt on M arch 1,1897, were all
hold by tho Commissioners of the Sinking Funds and were issued for
and are chargeable to the following accounts;
Pilling cov e basin ............................. ...........................................
$58,600300,000
Sewerage ..........................................................................................
Roger Williams Park Im provement l o a n ................................
275,000
Roger WtUlams P ark land............... .......................................
215,000
Water works eoustrnctloi.........................................
165,000 Special highway loan ....................................................................
650,000
New central p olice sta tion ............................................................
150,000
School houses and lo ts .............................................. ....................
487,000
D avis Park Im provem ent lo a n ...................................................
40,000
State House site ..............................................................................
1 90,000
Blaekstone Park Improvement loa n ...........................................
25,000
Blaekstone P a r k la n d .........................
10,000
Refunding p ortion o f City Hall and sew er loan......................
91,000
Placing electric w ires underground............ ...................................
29,988
B ed bridge (n ew ).............................................................................
60,500
E ddy Street estate...........................................................................
6*9,340
T o ta l............................................................................. .................. $2,818,828
S I N K I N G F U N D S .— B y city ordinance all sinking fund income ! b
required to be tavestea In the city’s bonds or notes, in State of Rhode
Island bonds, or in United States bonds. Th e city’s bonds to be can ■
celed to prevent ro-issuo.
Th e loans, for tlia redemption of which sinking funds are held by the
commissioners, and the amounts of the sinking funds March 1,1897,
are shown b y the following table:
City hall aud sewer loan, due in 1 8 9 9 ................................... $557,213 14
$57,728,522
$54,582,522 Public im provem ent loan, due In 1899..................................
T o ta l debt,.................... $63,533,258
372,169 84
Sinking funds...................... 5,985,160
5,691.522
4,473,522 Public im provem ent loan, due in 19 00..................................
11 2,18 995
Water loans, duo iu 1900............................................................
963,457 19
S e t debt.........................$57,548,097
$52,037,000
$50,109,000 Water lohn, due in 19 06.............................................................
238,149 07
SINKING F U N D . — Th e sinking fund is invested in the city’s own W ater loan, due in 1916....... ......................................................
94,540 34
bonds, those Issues marked w ith “ s. f . ” in the table above being Water loan, due in 1923...........................................................
57,008 28
held entirely b y this fund.
W ater loan, due in 1926............................................................
20,576 72
21,326 52
A S S E S S E D V A L U A T I O N . — Im p ro ve d real estate, is assessed at Davis estate loan, due in 1909.................................................
School loan, duein 1911............................................................
94.475 47
about 70 p. e. of its actual value and unim proved at about 50 p. e.
School loan, due in 1 9 2 5 ........................... ................................
55,090 09
B a te o f T ax Sewer loan, due in 1921..............................................................
-A s se s se d V a lu a lio n .190,091 41.
P erson a l.
Total.
000
Tears.
Beal.
Sewer loan, due in 1922..............................................................
105,947 93
$555,103,714J,e0
, fo
1896............. i$539,444,986
$15,658,728
Sewer loan, due In 19 23.............................................................
75,185 31
542.204.080
26-50
1894.............. 525,762,827
16,441,253
Sewer loan, due in 1925............................................................
151,227 84
506,054,676
28- 50
1893.............. 486,531,506
19,523,170
Sewer
loan,
line
iu
1
9
2
0
............................................................
79,274
62
27-70
483,728,329
1892............ 467,112,382
16,615,947
106,374 8 8
Park loan, due in 1922 .............................................................
466,914,249
2567
18,111,779
1891.............. 448,802,470
Highw ay loan, duo in 19 24............................. .........................
227,680 11
29*482
452,758,601
1 8 9 0 ..
... 430,911,794
21,846,807
2650 To ta l sinking funds March 1, 1897................................... $3,530,978 71
358,270,667
21,330,546
1889............. 407,127,535
22,597,240
26563
354,140,088
1 8 8 8 ..
: . 385,904,998
W A T E R W O R K S .— Th e w ater works construction account to Oct.
27595
383,851,674
1887.............. 362,166,083
21,685,591
27-347
1 8 8 6 ..
. . . 339,922,182
408,502,238
14,217,270
1, 1896, amounted to $6,630,743 53. I n year 1895-96 income from
29482
22,049,310
1885.............. 336,221,357
428.458.081
w ater rents, etc., was $511,788 9 0 ; cost of maintenance $80,575 0 8 ;
26-90
11,215,791
234,835,991
1880.............. 223,620,197
P O P U L A T I O N . — In 1893 population w as 957,163; in 1890 it was interest on w ater loans, $342,195 3 1; surplus over mainteuauce and
1870 it
I n --------1896 interest, $89,018 51.
806,343; in 18S0 it was 566,653 in 187"
" was 396,099.
-------------~
(estimated) 1,080,000.
A S S E S S E D V A L U A T I O N . — Th evaluatio na nd tax rate have been as
Providence, K. I.—E, D. McGuinness, Mayor, The follow follows, real estate being assessed at “ about tw o-thirds cash value
,-----------------A ssessed V a lu a tio n -------------------— , Tax- p e r
A m ount
ing financial statement of the city o f Providence has been Tears.
B ea l
P erso n a l
Total
$1,000.
o f Tax.
1896.$133,296,200
$40,936,300
$174,232,500
$16-50
$2,874,836
correoted to March 1, 1897, by means of a special report to 1805. 129,438,060 40,346,500 169,784,560 16-00 2,716,552 25
96
189 4.126,463,800
40,800,400 167,264,200
16 00 2,676,227 20
the Chronicle from D. L. D. Granger, City Treasurer.
1890.
104,684,440 35,932,620 140,617,060 15-00 2,109,255 90The city is situated in Providence County, which has no 1880.
88,012,100 27,908,900 115,921,000 13-50
1,564,933 5 0 1870.
52,511,800 40,565,100
93,076,900 13-50 1,256,538 15
debt.
1860.
37,089,800 21,042,000
58,131,800
5-60
325,538 8 0 LOANS—
'— Interest.— . ,------ —Principal. •
Th e ta x rate in 1896 of $16-50 included State ta x of $1-80 and c ity
NAME AND PURPOSE.
Bate. Payable. When Due. Outstand'g.
C ity H a ll and se w e r.1879.c&r 4
J & D June 1, 1899 $600,000 tax proper of $14*70.
P O P U L A T I O N — Th e population for 1897 is estimated at 154,000 75,000
D a vis estate lo a n ,.-.1 8 9 l.o & r 4g. J A J Ju ly 1, 1909
500,000 I n 1890 it was 132,043; in 1880 i t was 104,856; in 1870 it was 68,904
P a rk lo a n .................... 1892.c&r 4g. M A 8 Mar. 1, 1922
5
J
&
J
Ju
ly
1,
1899
450,000
Publics im provem ent.1879___ r
J A J Ju ly 1, 1900
146,000
do
do
1880
r 5
Fitchburg, Mass.—Henry F, Rockwell, Mayor. The fol
300,000
School loan............ . 1891 .c&r 4g. J & J Ju ly 1, 1911
300,000 lowing statement has been corrected to December 1, 1898, by
do
........................1895.c A r 4g. M A H M ay 1, 1925
Sewer lo an.................. 1891.c&r •Ig. J A J July 1, 1921 1,125,000
500,000 means o f a special report to the C h r o n i c l e from George E.
do
.........................1892.0*1- 4g. M & S Mar. 1, 1922
500,000 Clifford, Treasurer.
do
........................ 1893.e*r 4g. A A O Apr. 1, 1923
800,000
do
........................1895.c&r 4g. M A H M ay 1, 1925
500,000
do
....................... 1896,o&r 4g. J & D June 1, 1926
This c i t y ia in Worcester County,
820,000
W ater loan.................. 1871.o&r 6g. J &A .T July 1, 1900
LOANS—
W hen D u e.
LOANS—
W hen D u e . .
.1872 .c&r 5g. J &A JJ Ju ly 1, 1900 1,180,000
do
S e w e r (co n tin u e d )—
.1874. o& r 5g. J &A J J Ju ly 1, 1900 2,000,000 t sB, JrAi dDg.e$2,000
do
(reg.)Dec.
1,’97-98
4
s
,.......
,
$8,500
(co
u
.).1897
to '98
-1876.c&r 5g. J~ & J“ Ju ly 1, 1906 1,500,000 4s, M A N , 9,000 (reg.)N ov. 1, 1902 4s, M A N , 10,000 (reg.)N ov. 1,1903
do
483,000
,.1886. c&r 3% g M A S Sept. 1, 1016
do
B u r b a n k H o s p it a l —
4s,
M
A
N
,
35.000
(rog.)Nov.
1,1912
817,000
..1893. c&r 4g, A A 0 Apr. 1, 1923
do
, $90,000 (reg.)Dec. 1,1903 4s, J & J ,
5,000 (re g .)....... J u ly 1,
1926
200,000 4 bF, Ji rAeD D
.1896___r 4g, J A D June,
do
1897 to 1906
epartm ent—
H ig h w a y lo a n ..........1894 .c&r 4 g, M A N M ay 1, 1924 1,200,000 4s, A A O , $8,000 (rog.)1897 to 1900 4s, J A D , 6,000 (reg.)Dec. 1,1906
D E N O M IN A T IO N S O F B O N D S .—The coupon bonds a r e fo r $ l,0 0 0 4s, J A D , 35,000 (reg.)Deo. 1,1903
SlDKW ALK—
the registered bonds fo r -81,000 and m ultiples o f the same. All coupon
4s, M A N , $3,000 (reg.). . . . -N o v , 1,
C i t t B o nd s—
bonds arc transferable into registered bonds at the o p tion o f the 4s. J A D , $200,OOOfreg.) Jun o 1 ,’13
1897 to 1899
bolder.
4s, J A D , 6,000 (reg.)....... Dec. 1,.
G r a d e Ok o s s in g 1897 to 1900
4s,
JA
D
,
$8,000
(rog.)
Dee,
1
,1
9
0
5
IN T E R E S T o n the bonds is p ayable as fo llo w s :
Title o f Loan
Interest, where payable.
City Hall and sewer 4s, due 1899.. B oston, Hat. R evere Bk., a n d F rov
D avis estate loan, due 1909--------N. Y., Nat. C ity Bank, and Prov,
P ark lo a n ....................................... N. Y ., Hat, City Bank, and Prov,
Public im pr’nt 5s, due 1899A 1900 P rovidence, Cits- Treasury.
School loan, due 1 9 1 1 ...,..............N. Y ., Hat. City Bank, and P rov,
do
due 1925.................... P rovidence, City Treasury.
Sewer bon ds......................................N. Y., Nat. City Bank, anu P rov.
Water 6s, due 1900......................... P rovidence, City Treasury.
do
5s o f 1872, due 1 9 0 0 .........Boston. Nat. R evere Bk., and P rov.
do
5 b o f 1874, due 1 9 0 0 ......... N. Y ., Nat, C ity Bank and Prov.
do
5s, due 19 06......................... New Y ork, Nat, City Bank, A P rov.
do 3% », due 1 9 1 6 .......... ............
do
do
do 4 s, due 1923 ......................
do
do
do 4s, due 1926 ...................... P rovidence, City Treasury.
H ighw ay, due 1924 ...................... N. Y ,, Nat. C ity Bank and Prov.
T O T A L D E B T , SIN K IN G FU N D S, E t c .—The subjoined statem ent
show s the total m unicipal debt o f P rovidence, the sinking fund held by
th e city against the same, the water debt, and tho c ity ’s floating debt
o n the dates given.
Mar. 1 ,1 8 9 7 . July 1 ,1 8 9 6 . Oct. 1 ,1 8 9 5 .
Bonded debt finch w aterd ’t).$13,996,000
$13,990,000
$13,296,000
Floating d e b t .......................... 2,818,828
2,435,692
2,461,384
T otal d ebt.......................... $16,814,828
Staking funds, e tc .................
3,530,079
$16,431,692
3,305,769
$15,757,384
2,832,881
H ot d ebt.................................... $13,283,849
W aterd ebt (included above). $7,165,000
$13,225,923
$7,060,000
$12,924,503
$6,985,091
Paving—
St r e e t —
4s, M A N , $5,500 (con.)....... Nov. 1, 4s, J A D , $2,000 (reg.).........Dee. 1,
* 1897 to 1898
1897 and 1898
4s, M A N , 2,500 (reg.)Nov. 1,1902 4s, M A N , 3,000 (reg.)......... Nov, 1,
1897 to 1899
P o l ic e St a t io n —
4 s , ........ $12,000 (re g .).........Doc. 1, 4s, A A O , 50,000 (reg.) Oct. 1,1903
1897 to 1903 4s, J A D , 20,000 (re g .)........ Doc.1,
1897 to 1903
4s. A A O , 32,000 (r o g .)A p r .l,1904
WATER
Sch o o l—
S
E
S
A
A0,$50,000(reg.)
A p r. 1, ’98 4s, J A D , $10,000 (cou.)___Jun o 1,
1897 to 1S99 4s, J & J , 100,000 (reg.).J uly 1, 1901
4s,
M
A
N
,
ll,0
0
0
(r
e
g
.)N
o v .l, 1902
4s, M A N , 20,000 (reg.)Nov. 1,1902
4s, J A D , 25,000 (regjDeo.1,1914 4s, M A N , 25,00 0(reg.)N ov.l, 1903
4s, M A N , 45,000 <reg.)Nov.l,1923 4s, A A O . 50,000(reg.)0et. 1,1903
Subj. to call after A p r. 1,1898
4s, M A N ,155,000 (reg.)N ov.l,102 8
4s, J A D , 50,000 (reg.)June 1 , ’25 6s, J A J , 80,000(eou.)July 1 ,190 5
Os, J A J . 20,000(cou.)July 1, 1906
Se w e r —
4s, J A D , $5,000 (re g .).........Dec. 1, 4s, M A N , 100,000(reg.) M ay 1,1911
1897 to 1901 4s, A A O , 300,000(reg.) A p r . l . 1922
P A R V A L U E O F B O N D S .— Tiio bonds are for $1,000 each, part
registered and p a rt coupon.
INTEREST on coupon bonds is payable tn Boston at Merobat
Bank. Th e Interest on registered bonds is rem itted by-check.
T O T A L DEBT, SINKING FUNDS, E t c — T h e subjoined sta
shows Fitch burg’s total m unicipal debt, the sinking fund hel
oity against tho same, and the w ater debt, on the- le t' of D e w
each of the last three years.
M a i ch
1896.
Total city debt Decem ber 1 ..$ 1 ,7 9 8 > 5 0 0
-Sinking funds, cash, e tc............
292,225
1895.
$1,733,000
411,121
1894.
P erson a l
P rop erty.
R ea l
Estate.
Total
V alu a tion.
361,688
R a le o f Tax
p e r $ 1 ,0 0 0 .
$4,060,212
$20,773,859
$19-20
1896........ ....... $16,113,647
4,526,755
19,855,474
18-10
18 95........ ....... 15,328,719
4,210,573
18,477,679
1894........ ....... 14,267,106
18-10
4,419,556
18,275,159
18-00
1893........ ....... 13,855,603
4,093,630
17,065,545
16-40
1892........ ....... 12.971,915
16,261,117
1S91
16-40
3,591,126
15,476,216
16-40
1890........ ....... 11,885,080
3,724,393
14,810,768
17-00
1889........ ....... 11,086,375
13,694,890
T 8 8 8 ........
P O P U L A T IO N .—In 1896 p opulation was about 27,500; in 1890 it
w a s 22,037; in 1880 it w as 12,429; in 1870 it was 11,260.
N e b .— B . K i n g , M a y o r .
•been c o r r e c t e d
T h e fo llo w in g sta te m e n t has
t o J a n u a r y , 18 9 7 , b y m e a n s o f a s p e c ia l r e p o r t
•to t h e C h r o n i c l e f r o m G e o r g e S . C o o k , T r e a s u r e r .
T h is is t h e c o u n t y s e a t o f Y o r k C o u o t y .
LOANS—
W h en D u e. |Total debt Jan., 1897........ $34,600
Tax valuation, real............ 181,214
T ax valuation, p e rso n a l.. 84,790
Total
valuation, 1895......... 266,004
F u n d in g B o n d s 68 , J&D. $4,600........ Dec. 1, 1909 Assessment about i o actual value.
Total
tax (per $1 ,000 )....... $91 *25
Subject to call after Dec. 1, 1899
Population 1890 w as............3,405
R a i l r o a d A id 68 , July, $10.000.......July 1, 1907 Population 1880 w as............1,259
6 s, Oct.j 13,000.........Oct, 1, 1907
IN T E R E S T on all bonds is payable in New Y ork City.
T A X FREE-—All bonds are exem pt from taxation.
C it y H
all
T
B
ont
d>s —
-
1909
68 , J&J, $7,000........ Jan. 1
S a le m ,
M a s s .— J a m e s
H.
T u rn er,
M ayer.
T h e fo llo w in g
s t a t e m e n t h a s b e e n c o r r e c t e d t o D c e m b e r 1, 1896, b y
of a
s p e c ia l
report
to
m eans
t h e C h r o n ic l e f r o m J a s, B . N ic h o ls ,
A u d ito r .
T h i s c i t y is in E s s e x C o u n t y .
NEW l o a n s .
• » :« ,0
0
0
, 0
0
LOANS—
$ 1,6 0 4 ,0 0 0
Net debt on December 1 — $3,506,275
$1,321,879
$1,242,312
“Water debt, included ab ove---- $736,000
...............
$738,500
The total city debt on D ecem ber 1 ,1 8 9 4 , as given in the above, in
cluded temporary loans to the am ount o f $100,000, and on December 1,
1896, included such loans to the am ount o f $200,000. The sinking funds
are invested in sundry m unicipal bonds.
A SSE SSE D V A L U A T IO N .—The city ’s assessed valuation and tax
rate have been as follow s:
York,
J5H3
THE CHRONICLE.
27. l e i ’7.]
NEW
A
rm ory
B
W hen D ue.
on d s-
48, M&S, $ 4 ,500................. March 1
($500 yearly.)
Ca n a l St r e e t -
48, M&N, $30,000.......May 1, 1897
($6,000 yearly) to M ay 1,1 901
H ig h Sc h o o l B o n d s4 8 , FA A, $42,000..........Aug.,
1897
($4,200 due yearly) to Aug., 1907
I m p r o v e m e n t L o a n 1892—
4s, F&A, $54,000.......Aug. 1,1 897
($9,000 due yearly) to Aug. 1, 1902
I m p r o v e m e n t L o a n 1893—
4s, A&O, $35,000........ Oct. 1,1 897
($5,000 due yearly) to Oct. 1, 1903
I m p r o v e m e n t L o a n s 1894—
4s, M&S, $ '2 ,0 0 0 ....... Mar. 1,1 897
($9,000 due yearly) to Mar. 1 ,1 904
4s, M&S, $9,000..........Mar. 1, 1897
($3,000 due yearly) to Mar. 1,1 899
I m p r o v e m e n t L o a n 1895—
$4s, A&O, $ 2 2 ,5 0 0 ....Apr. 1, 1897
($2,500 due yearly) to Apr. 1,1 905
Co m p t r o l l e r ’ s O f f ic e
B u r e a u o p C a n a l a f f a i r s , j.
A l b a n y , M a r c h 2 7th , 1897.
j
P u r s u a n t t o t h e p r o v is io n s o f C h a p t e r 79 o f L a w s
o f 1*95, p r o p o s a ls w ill b e r e c e iv e d a t t h is o ffic e u n t il
T u e s d a y , t h e 2 0 th d a y o f A p r il, 1897, a t 12 o ’c l o c k
n o o n o f t h a t d a y f o r a lo a n o f
THREE M LLION DOL L A RS
f o r w h ic h t r a n s f e r a b l e c e r t ific a t e s o f s t o c k , r e g ie ,
t e r e d o r c o u p o n b o n d s , a t th e o p tio n o f th e p ro p o s e r
P r i n c i p a l a n ti I n t e r e s t P a y a b l e i n G o l d
'w ill b e is s u e d in t h e n a m e o f t h e P e o p l e o f t h e S t a te
o f N e w Y o r k , o n t h e c r e d i t o f t h e S in k in g F u n d e s
t a b lis h e d b y s a id a c t , b e a r in g interest at the rate of
three per centum per annum , p a y a b le s e m i -a n n u a l ly
o n t h e firs t d a y s o f J a n u a r y a n d J u ly , a n d i h e p r in
c ip a l r e im b u r s a b le o n t h e fir s i b a y o f J a n u a r y , 1912.
T h e w e b o n d s a r e e x e m p t I r o m t a x a t i o n pu r
s u a n t t o C h a p t e r 8 , L a w s o f »8&7.
P r o p o s a l s m a y b e f o r t h e w h o le c r a n y p a rt o f t h e
lo a n n o t le s s t h a n $1,000. a n d s h o u ld s t a t e w h e t h e r
r e g is t e r e d o r c o u p o n b o n d s a r e d e s ir e d , a n d s u c h
p r o p o s a l» m u s t b e a c c o m p a n i e d b y a c e r t ifie d c h e c k
fo r -o n e p e r c e n t o f t h e a m o u n t o f t h e p r o p o s a l.
P a y m e n t s f o r t h e lo a n w ill b e r e q u ir e d t o b e m a d e
o n t h e a c c e p t a n c e o f t h e p r o p o s a l b y d e p o s i t in t h e
B a n k o f t h e M a n h a t t a n C o . in t h e C it y o f N e w Y o r k
t o t h e c r e d it o f " T r e a s u r e r o f t h e S t a t e o f N ew
Y o rk , on a o e o u n t o f Canal F u n d ” o f th e a m o u n t o f
t h e a w a rd , t o g e t h e r w ith p r e m iu m a n d a c c r u e d in
t e r e s t fr o m J a n u a r y 1 ,1 8 9 7 .
T h e C o m p t r o ll e r r e s e r v e s t h e r ig h t t o r e j e c t a ll
b id s w h ic h a r e n o t In h is o p i n io n a d v a n t a g e o u s t o
t h e I n t e r e s t s o f t h e S ta te .
I n t e r e s t o n t h e lo a n fr o m t h e firs t d a y o f J an u a ry *
1897. w ill b e p a y a b le a t t h e B a n k o f t h e M a n h a t t a n
C o .. In t h e C it y o f N e w Y o r k .
A l l p r o p o s a ls m u s t b e s e a le d a n d e n d o r s e d “ L o a n
f o r C a n a l I m p r o v e m e n t s ,” a n d d ir e c t e d t o t h e C o m p
t r o l le r o f t h e S t a te o f N e w Y o r k , A l b a n y , N . Y .
JAM ES A. RO BERTS.
C o m p tr o lle r .
;l;H. Van Buren & Co.,
4 o H A N K K ltS A N D
BROKERS,
R O A D W A Y , N E W
Y O R K .
’O C K S. B O N D S A N D H I G H -G R A D E
IN V E S T M E N T S E C U R IT IE S .
' e t t e r . in c lu d in g lis t o f s e le c t e d B on d s.
M a ile d F r e e .
W a t e r B o n d s68 , A&O, $7 5,00 0... .Apr. 1 ,1 898
5s, J&J, 3 9 8 ,5 0 0 ....July 1, 1904
4s, J&D, 19 2,00 0... .June 1, 1897
($8,000 yearly) to J u n e l, 1920
4s, F&A, $24,00 0___ Feb. 1 ,1 8 9 7
($2,000 due yearly) to Feb. 1 ,1 908
4s,F&A,$10,000 ($500 y i’lv)M ar.l
4s. M&S, $12,00 0.......... 1897-1906
$4,350 due Aug. 1, 1897, and
$850 yearly thereafter.
$1,088,429
699,500
105,425
$1,100,523
681,500
103,425
ASSE SSE D V A L U A T IO N .—The city’s assessed valuation and ta x
rate have been as fo llo w s:
Y ears.
■Assessed V a lu a lio n .P erson a l. A d ditiona l.
Real.
Tax p e r
$ 1,000
$ 11,120,200
$28,662,900 $16-00
10,498,200
$9,000
27,583,600
18-50
11,853,500
43,500
28,360,200
16-80
11,888,690
20,700
26,198,890
1700
12,577,728
24,000
26,375,328
16-00
POPULATION.— In 1895 population was 34,437; in 1890 it was
30,801; in 1880 it was 27,563; in 1870 it was 24,117; in 1896 the
population is estim ated at 35,000.
Total.
18 96.. $17,542,700
1895.. 17,076,400
18 94.. 16,463,200
1890.. 14,289,500
18 88.. 13,773,600
N E W LOAN S.
^ 4 5 , 0 0 0
VILLAG E
t h e K e n t u c k y S ta tu tes .
S e a le d p r o p o s a ls w ill b e r e c e iv e d u n t il 1Z o 'c l o c k
M ., A p r il 1st, 1897, a t t h e o ffic e o f i h e C o m m is s io n e r s
o f t h e S in k in g F u n d , L o u is v i ll e , K y ., f o r t h e p u r
c h a s e in w h o le o r in pa rt o f t h e a f o r e s a i d b o n d s .
N o b id w ill b e r e c e iv e d f o r le s s t h a n $5,000.
P r o p o s a l s m u s t b e s e a le d a i d a d d r e s s e d t o t h e
“ C o m m is s io n e r s o f t h e S in k in g F u n d o f t h e C it y o f
L o u is v i ll e ,” C it y H a ll, L o u is v ille , K y ., a n d m a rk e d
“ P r o p o s a ls f o r B o n d s .”
T h e C o m m is s io n e r s r e s e r v e t h e r i g h t t o r e j e c t a n y
o r a ll b id s , o r t o a c c e p t a n y b id m a d e f o r a n y p a r t o f
th e t o ta l n u m b er o f b on ds p rop osed to b e p u rch a sed
b y a n y b id d e r
N o p r o p o s a l w ill b e c o n s id e r e d u n le s s a c c o m p a n ie d
b y a c e r t ifie d c h e c k f o r o n e (1 ) p e r c e n t o f t h e f a c e
v a l u e o f t h e w h o le n u m b e r o f b o n d s p r o p o s e d t o b e
p u r c h a s e d b y t h e b id d e r . C h e c k s w il l b e r e t u r n e d
t o t h e u n s u c c e s s fu l b id d e rs .
T h e b o n d s w ill b e re a d y f o r d e l iv e r y in t b is c it y
W M . F. M A YE R ,
P r e s i d e n t C o m m is s io n e r s o f t h e
iin k in i; F u n d o f
t h e C ity o f L o u is v ille .
SAFE INVESTMENTS.
SEND F O R
LIST
City and County Bonds.
DIETZ, DENISON & PRIOR,
CONGRESS STRE ET, - BOSTON.
1 0 » S u p e r io r S tre e t, C le v e la n d O.
OF
ARVEME-BY-THE-SEA
(IN GEEATEE NEW YOEK.)
\
■
of the
C o m m is s io n e r s o f t h e S i n k i n g F u n d ,
R o o m s 27 a n d 28, C i t y H a l l ,
LOU ISVILLE, K y ., M a r c h 1 9th , 1897. J
F o r sa le, 8 5 8 8 ,0 0 0 o f C it y o f L o u is v ille , K y ., 4%
R e f u n d i n g G o ld B o n d s , d a t e d A p r il 1st, 1897, d u e
a n d p a y a b le A p r il 1st, 1937. S a id b o n d s a r e o f t h e
d e n o m i n a t io n o f $1,000 e a c h , b e a r in g in te r e s t a t t h e
r a t e o f 1% p e r a n n u m , p a y a b le s e m i a n n u a lly in g o ld
o n t h e firs t d a y s o f O c t o b e r a n d A p r i l o f e a ch y ea r;
p r in c ip a l a n d in te r e s t p a y a b le a t T h e N a t io n a l B a n k
o f t h e R e p u b lic , N ew Y o r k . T h e s e b o n d s a r e is s u e d
b v v ir t u e o f a n o r d in a n c e o f t h e C it y o f L o u is v ille *
K e n t u c k y , a p p r o v e d D e c e m b e r 1 2 tb , 1896, u n d e r
a u th o rity o f an a ct o f th e G en era l A s s e m b ly o f th e
( o m m o n w e a lt h o f K e n t u c k y , l o r t h e g o v e r n m e n t o f
c i t ie s o f t h e firs t cla s s, in t h e S t a t e o f K e n t u c k y , a p
p r o v e d F e b r u a r y 24th, 1894, b e in g S e c t i o n 3010 o f
33
4s, A&O, $48,000.......Apr. 1, 1897
($2,000 due yearly to) Apr. 1, 1920
Net d e b t ................................. $974,733
Water debt (included a b ov e)...
711,500
Trust funds (included a bove).......................
4 ? REFUNDING GOLD BONDS
A p r il firs t, 1897.
P u b l ic L i b r a r y 68 , A&O, $25,000....... Apr. 1,1 908
Se w e r L o a n s —
T O T A L DEBT, SINKING FUNDS, Et c .—The subjoined state
ment shows Salem’ s total m unicipal debt, the sinking fund held by the
city against the same, and the water debt, on each o f the dates named.
Dec. 1,1896. Dec. 15,1895. Jan. 1,1895.
Total debt........................................$1,167,500
$1,317,868
$1,267,234
Sinking funds and cash...............
192,767
229,439
166,711
LOANS.
O f f ic e
M u n ic ip a l L o a n 1 89 3 —
4s, J&D, $ 4 2 ,0 0 0 .......June 1, 1897
($6,000 due yearly) to June 1 ,1 903
M u n ic ip a l L o a n 1896—
4s, F&A, $9,000.......... Oct. 1, 1897
PAR VALUE OF BONDS.— The bonds are m ostly in $1,000 pieces*
IN TEREST is payable at the Merchants’ National Bank, B oston,
S T A T E of N E W YORK City of Louisville, Ky.,
3? Canal Improvement Bonds.
When Dii.&
Mass.
^ 5 8 8 , 0 0 0
0
LO A N S -
M u n ic ip a l L o a n 1 89 2 —
4s, J&D, $63,000.......June 1, 189T
$ 3 ,0 0 0 due yearly) t o June 1 ,1 9 1 7 "
5$ VILLAGE BONDS.
T h e f o l l o w i n g d e s c r ib e d b o n d s w ill b e o ffe r e d f o r
s a le t o t h e h i g h e s t r e s p o n s ib le b id d e r a t p u b lic a u c
t io n a t t h r e e o ’c l o c k in t h e a ft e r n o o n o f Saturda y*
t h e th ir d d a y o f A p r il n e x t , in t h e o ffic e o f t h e V i l
la g e C le rk . a t t h e N o r t h e a s t c o r n e r o f G a s t o n A v e n u e
a n d t h e B o u le v a r d , b a t h e V i ll a g e o f A r v e r n e -b y - t h e '
S ea , T o w n o f H e m p s t e a d , C o u n t y o f Q u e e n s , N . Y .
F o r iy T h ou san d D o lla r s o f H ig h w a y I m
p r o v e m e n t B o n d s , t o h e d a t e d 18t M a y , 1897, a n d t o
m a tu r e a s t o F iv e T h o u s a n d D o lla r s t h e r e o f o n t h e
firs t d a y o f M a y in e a c h y e a r f r o m 1920 t o 1927, in
e lu s iv e .
F iv e T h ou san d D o lla r s o f b o n d s f o r d r e d g in g
t h e A o i s t e l C a n a l, t o b e d a t e d 1st M a y , 1897, a n d t o
m a tu r e a s t o O n e T h o u s a n d D o lla r s t h e r e o f , o n t h e
1st d a y o f M a y in e a c h y e a r f r o m 1915 t o 1919, in
c lu s iv e .
P r in c ip a l a n d in t e r e s t w ill b e p a y a b le in U n ite d .
S ta te s g o ld c o i n o f t h e p r e s e n t s t a n d a r d o f w e ig h t
a n d fin e n e s s .
T h e s e b o n d s w ill b e Is s u e d p u r s u a n t t o - v o t e o f t h e
t a x p a y e r s , a n d w ill b e a r in t e r e s t a t fiv e -p e n c e n t p e r
a n n u m , p a y a b le s e m i-a n n u a lly o n t h e first d a y s o f
M a y a n d N o v e m b e r o f e a c h y ea r.
T h e b e n d s w ill b e f o r O n e T h o u s a n d D o lla r s e a c h t
in u su a l fo r m , c o u p o n o r r e g is t e r e d , a s t b e p u r c h a s e r
m a y e le c t , a n d w ill b e d e liv e r e d a t t h e N a t io n a l S h o e
& L e a t h e r B a n k , 271 B r o a d w a y , N . Y ., a t t w e l v e
o 'c l o c k noOD, o n t h e 1 st d a y o f M a y , 1897, w h e n t h e
b a la n c e o f t h e p u r c h a s e p r ic e m u s t h e p a id .
T h e b id d e r s w h o s e p r o p o s a ls s h a ll b e a c c e p t e d
w ill b e r e q u ir e d t o d e p o s it w it h t h e T r u s t e e s a t t h e
t im e o f t h e s a le t e n p e r c e n t o f t h e p u r c h a s e p r ic e o f
sa id b o n d o r b o n d s , f o r w h ic h r e c e ip t w ill b e g iv e n . I f
t h e b o n d s b e s o ld in o n e l o t a d e p o s it o f O n e T h o u s a n d
D o lla r s w ill su ffic e , a n d s h o u ld t h e b id d e r o r b id d e r s
f a il t o t a k e a n d p a y f o r t h e b o n d s a t t h e t im e a n d
p la c e s p e c ifie d f o r t h e d e l iv e r y o f t h e sa m e , s a id d o ,
p o s it s w ill b e r e t a in e d b y t h e T r u s t e e s a s liq u id a t e d
d a m a g e s f o r s u c h fa ilu r e s .
T h e r i g h t t o o ffe r t h e s e b o n d s in o n e o r m o r e lo t s ,
t o w it h d r a w t h e b o n d s f r o m s a le , a n d t o r e j e c t a n y
b id o r b id s i f t h e s a m e f o r a n y r e a s o n b e u n s a t is fa c
t o r y , is e x p r e s s ly r e s e r v e d .
B y o r d e r o f t h e B o a rd o f T r u s t e e s o f t h e V illa g e o f
A r v e r n e ^ b y -t h e -S e a , N . Yr.
A r v e r n e -b y - t h e -S e a , 10th M a rc h , 1897.
J O H N II. W A T E R S , P r e s id e n t .
A . E . K A R E L S K N , C lerk .
THE
684
C H R O N IC L E .
;V ou LXIV.
INDEX TO STATE AND CITY DEfADTMENT,
J o t l t e J o U o w h u r I n d e x r e f e m i e e In m a d e b y t h e p a g e n u m b e r t o e v a r y
i n t h e p r e - e n t v o l u m e o f t h e O i i h u n w l i ■ •. I ' o r I n d e x t o i t e m s H i
i a ( h e r rr e r i i ! n u m b e r a r e m i l a n t e i t i n t h e n u l e s . . K iill- E .u 'r t y p e s r e f e r t o l a
l> i M M b e d I n t h e .s t a t u s * s o O t T V D f c f A f t T S K S T o f t h e 0 R R O X t c t . i t o n t h
V o lu m e tilt .
.4 d & ltt$ C o . . O .
A lu t ia m a .,. ,..
A l h a u v . N . Y -A ltM U k f C o . , N .
5 3 5
3 S 8
M4 7
Albany Cm. Wj
.• • 1 7 1 ,
4 0 ,0 1 ,
A lle n to w n . P a .,.,......4 0 ,
A m b e r t it C o ., V a . . . . . . . . .
A n a c o n d a . M o n t . ... . . . . .
A B i l r o s u t ^ i a C o .. M e ...
A n n A rb or. M id i........
A n n is to n . A l a . . . . . . . . . . . .
A n o te s, M i n n .. . . . . — . . .
A r i i o n a . r . . . . . . . . . . . -------A r k a n s a s ,...*
....4 3 3 ,
A r k a n m s N o n -H o lto rd
B o n d s ..,..
—
.—
A r lin g to n , M u se . . . . .
A r v e r a e - b y t h e - S e a ,N .Y .
4*3,
A tc h is o n , Iv an . . . . . . . . . . .
A t h e n a , A l a . . . ......... ..
A t h e n s . O , . . . . ........................
A t l a n t i c C i t y , N . J .1 S M 4 ,
: 0 0 ,0 4 .'. 4 8 1 .
A t l a n t i c C o . , N . J . , ...........
A u b u rn , M e ..............
A u g u s t a , G a ......... 24 4 , $ 4 2 ,
A lle g h e n y , P a ,
IS *
m
s
300
532
m
578
M g
481
S I I,
B r a d fo rd . P a
B r a m b le * o n . N o r f o l k
P . U .. V h ..
...
B r a z o ria C o , T e x .
B r e w to n . A la
. ,
B r id g e p o r t. C o n n .
B r. v K tu ii,
,.A %
B r o o k lin e , M a s # .,.
B r o o k ly n , S . V . . . .
A ?.
B r y a n .O h io
....
B u ffa lo , N . I V 4 1. 1 1 * 2 ,
4 8 1.
B u r lin g to n . N . J , . . .
B u r r iliv ille , U . I . . . .
B u t l e r . P n ........... ..
..
481
40
*1171
481
2 4 ’
49
94
5 1 7
433
*1171
481
n
T Y a lt im o r e .M d , . . . 1 4 0 ,
J l>
19 9 , *9 6 .
B a n c r o f t , N e b . . ....................
241
B a r n e s v t u e , 0 ................ 9 4 ,
532
B a r r e , V t . . .................... ..
B a r t o n , V t .......................3 4 2 , 3 8 8
B a y C ity U n io n S c h o o l
57*
D i s t r ic t , M ic li.S S S , a 8 1 ,
20 6
B a y o n n e , n . J ..................... ...
388
B e a tr ic e , N e b , . . ,
....
578
B e d f o r d C i t y , V a ............. .
B e lm a r .N , J ..2 W 6 18 1,
PS
B e n to n v ille , A r k , . . . . . . .
B e r k le y , V a .,
B in g h a m to n , N . Y .,
B la c k H a w k , C o l... .
B l o o m i n g t o n , 1 11 .
B iu f f t o n . O . . . . 1 9 0 ,3 4 2 . 5 3 s
B o s t o n , M a s s . . .* 1 1 7 1 .4 0 ,
9 4, 5 80
B o s to n S u b w a y L e a s e ... *117 1
532
B o u ld e r , C o l . . . . . . . . . . . . . .
B o w l i n g G r e e n , O . . -------- 2
2
5S&
/ C a ld w e ll C o ., K y . . . . . . . .
' a Id w e l l C o . , M o . . . . . . .
C a lh o u n C o ., A l a . . . — .
C a l i f o r n i a ............................
C a m b r id g e , M a s s
C a m d e n , N .« l... A -i I, 3 l2 ,
38S
C a n to n . O h io .. . . . . . . . t4
C a s c a d e C o ., M o n t . . . . . . .
C a s s C o . , M i c h ........................
C e n t e r v i l l e , L a ......................
C e n t e r v ille . M l o h . . 199,
C h a g r i n F a l l s . 0 . ...............
C h a r le s C o ., M d . . . . . . . . . .
C h a rle s to n . S .C
. ,. 2 4 4 ,
C h a r l e s t o n , W . V a ...........
C h a r lo t t e , M i c h . . . . . 199,
C h a r l o t t e . N . C ......................
C h a r lo tte s v ille , V a —
.
C h e l m s f o r d , M a s s . ., 2 4 4 ,
C h e ls e a , M a s s . . .
14«,
C h e rry C o. S ch o o l L is t.
N o. 1, N eb
.............. ,
O b ic a g > S a n ita r y D is c ,
i n . . . ................................... i 4 o ,
C h ip p e w a C o ., W l s .. . . . . .
C in c i n n a t i , 0 .0 4 ,2 4 4 ,2 9 7 ,
3 8 8 ,4 3 3 ,
C in c in n a ti S c h . D ie t,, 0 .
C la ib o r n e C o ., M i s s , . . . . ,
C la r k e s v U le . T e n n .. . . . . .
C l a y C o . . S . D................ ..
C l e b u r n e . T e x ------ . . .
.
C le v e la n d , 0 ..4 P .9 4 199,
244. 297, 433, 5 3 A
C o l b e r t C o . . A l a ........... $ 8 3 ,
o lle g e H ill, 0 . . . 1 9 ,1 1 6 .
N E W LOANS.
B ID S FOR B O N D S .
Consolidated Sinking Fu n d Bonds
OF TH E
CITY OF CINCINNATI, 0„
3.65^ 4 0- Ye ar Gold Bond?.
5 3 2
I t e m r e g a r d i n g S t a t e . c i t y , t o w n o r c o u n t y t l n m u '- r e w b i c b h a s l i e o n
V o l u m e 6 3 , s e e O lth O N I C i- K o f D e i- e m ln r 2 6 , 1 8 0 6 , p a g e 1 1 7 5 .
H e m *
t e s t r e p o r t s o f t o t a l d e b t , a & B b R s e d v a l u a t i o n . A re,
’t i n s i n d e x w i l l h e
e m a t S a tu r d a y o f e a c h m o n th .
I t e m s r n n i k r d * " il l tie f o u n d
in
C o lo r a d o S p r in g s , C o l
C o lu m b u s , ( la
i v , 484,
C o i n m in is . M i s s . . . . . . . . .
( o l u m b u s . 0 ........... 4 8 1 .
C o m a n c h e C o ., K a n .. C o r a o p o lis . P a . . .9 1 , H O ,
244,
C o w l e y C o . , R a n . . .............
( ’ r a v e n C o . . N . C ...........
C r ip p le C r , S e ll. D is ., C o l.
C r o w l e y . 1 41
.........
C u m b e r la n d , M d . . . . ,
i m
, F lo r e n c e ,
m
E a s t C h e s t e r , N . Y5.34*343.,
578
E ast C le v e la n d . O . . . . . . .
116
E a s t L iv e r p o o l, O . . . . . . . . *1171
E a s t o n , P a . . . . . . . . . .............
388
E l P a so C o u n ty , T e x ....
1 50
1 E l s i n o r , C a l . . 9 4 , 2 4 4 . 388 , 5 3 4
481
j E ly r ia . O ... ,
........
E s c o n d id o
I r r ig a tio n
D i s t r i c t . C a l . . . 14 6 , 29?,
433
E s s e x C o . , N . J ., 2 8 7 , 3 4 2 ,
578
E v a n s t o n . 0 .....................4 3 3 .
481
I ^ a t r f le ld ,I o w a ...., . . . .
481
JJ a l l R i v e r , M a a s . . . . .0 4 ,
1 4 6 ,4 3 4 .
481
F a lls C o ., T e x . . . . . . . . . . . +1 1 ? 4
40
F a r g o , N o . D a k ......................
! F a r R o c k a w a v . N . A7 ,.
* 1 1 7 ) , 4 0 ,1 4 7 , 1 1 9 , 244,
532,
579
F a y e t t e C o . , T e x .............
9 7
F l a g s ! a f f . A . T . . . H 7 , 388,
4 34
‘* 9 7
F l e m i n g s b u r g , I v y . . .........
i
199
533
570
43 4
533
100
2 97
48 4
5i>
342
579
533
19 9
5.(3
579
342
3 12
a c k e n s a c k S cb . D is
t r i c t . N . J . . . ................
H a m ilt o n C o ., 0 . * 1 1 7 3 ,
297, 342,
H a rrie fsto w n U n . F re e
S e ll. D ig . N o . I , N .Y . 19 9 ,
H a r r i m a n , T e n n ___. . . . .
H a r r i s b u r g , P a . ....................
H a r r i s o n C e „ T e x , ...............
H a r r is o n U n io n S c h o o l
D I s t . N o . 6 , N , Y . ...........
H a r t f o r d S- n t h S c h o o l
D i s t r i c t , C o n n . .. — ..
H a s t in g s , N e b .. 14 7 , 245,
H a t f i e l d . M a s s ....................
H a v e r h i l l , M a s s . . . . .4 3 4 ,
H e a l d s b u r g , C a l ___. . . . .
H e l e n a , M o n t . .2 4 5 , 2 9 7 ,
H e r k i m e r C o . , N , Y ............
H
N E W LOANS.
C I T Y OF M A C O N , GA .
4 HU PAVING BONCS.
O n e W e i. 1 s t , 1 9 3 8 ,
297
533
342
533
95
14 9
297
579
3 0 0
481
533
95
533
In te re st Q u a r te r ly i J a n u a ry , A p r il, J u ly
.... .
E. D. SHEPARD & CO.,
BERKLEY, VIRGINIA,
5: 30-Year Improvement Bonds.
W . N . Coler & C o .,
M U N IC IP A L B O N D S.
34 NASSAU STREET.
50
4 '1
4 & 2
533
482,
m3
H o lla n d C it y , M i d i ..
H o ly o k e . M a s s * 1 1 7 1 ,5 0 ,
8 - 1 3 .5 8 3 ,
H o m e ste a d , P a ... . . . . . . .
H o u s t o n , T e x . ----------------H o w a r d C o ., M o .. . . . . . . . .
H u d son , M
u
s
s
„.
H u d s o n . N . Y .......................
H u n ts v ille , A l a . . . . . . . . . .
3$9
I l l i n o i s . . ..........
20 0,
I n d e p e n d e n c e , M o .. . . .
I n d i a n a .............
....................
I n d ia n a p o lls , I n d
14 7,
2 4 5 , 48 3,
I o w a . ............. .................. . . . .
I p s w i c h , M a s s ..........* 1 1 7 2 ,
T a c k s o n , T e n n . . . ........... ..
o a c k s o n v i l l e , A l a .............
J a m a ic a , N . Y . . . 9 5 .4 3 4 ,
533,
J e ffe r s o n C o ., W . Y a . . . .
J e f f e r s o n v i l l e . I n d ..............
J e r s e y C it y . N . J . . * . 3 4 1,
343,
J o h n s to w n , N .Y — 14 7.
2 0 0 , 348,
.T o n e s C o . . T e x . , . . .............
J u n i a t a . P a ................. 1 4 7 ,
K
579
583
343
1471 47
297
2C 0
484
207
579
533
20 0
535
533
w
579
679
389
579
389
202
380
343
anaw ha CoM W . V&.
K a n s a s C ity , M o
K a u lt a n n a , w i s
K a w T w p .. M o .
K e a r n e y T w p ., N . J , , . . , .
K e e n e . N . I I ......................
K e n t C o , D e i.
K eo sa u cm a, l a ......
J“ K ln g s t o f t , N . C . ........
K n o x C o . . T e n n __
K n o x v ille , T e n n ,....1 4 7
245, 4 3 *
*0 3
2 ,0
m
579
50
343
B O N D CALL
White County, Illinois.
C a r m i . I I I . , M a r c h 1 7 ,1 8 9 7 ,
W h e re a s, on th e 3d d ay o f M arch . A . D . 1 8
C o u n ty B o a r d o f S u p e r v is o r s
P r o p o s a l s a r e s o l i c i t e d f o r t h e p u r c h a s e o f $ 3 ,6 5 4 ,000 0 1 c o u p o n o r r e g i s t e r e d b o n d s o f t h e C i t y o f C in
and O ctob er 1st,
c i n n a t i O h io , t o b e is s u e d t o p a y , u n d e r a n o p i io n o f
r e d e m p tio n , t h e a m o u n ts r e s p e c t iv e ly o u ts ta n d in g
A
c
t
u
a
l
V
a
l
u
e
o
f
P ro p e rty .
........... .............. IS O , 0 0 0 OOO
o f t h e f o b o w i n g i s s u e s o f C i n c i n n a t i I n n d s : $50O,OO0,
fld .O O O . $ 1 7 ,0 0 0 . $ 2 3 >MHi », $ 2 3 7 ,0 0 0 , $ 2,0 0 0 ,0 0 0 , $ 70 0 ,0 0 0 . A s s e s s e d Y a i u a t i o n ...................................................... 1 1 , 3 9 4 ,4 5 7
T h e b o n d s w ill b e d a t e d F e b r u a r y 1 s t , 8 9 :. w ill
T o t a l D e b t . . . ................................................$ 8 35 ,0 0 0
m a tu r e a t t h e e n d o f f o r t y y e a r s fr o m ih e tr d a te ,
L e s s S i n k i n g F u n d ( $ 1 6 0 ,OC 0 i n M a
w i t h I n t e r e s t a t t h e r a t e o f S -6 5 p e r c e n t p e r a n n u m ,
p a y a b le s e m i- a n n u a lly e a c h A u g u s t I s l a n d F e b r u
c o n C ity B o n d s ) .
2 O ,0 FO
a r y > st. a n d w i l l b e $ 1,Q < " , $ 5 0 0 o r f i O O p i e c e s , o r
r e g i s t e r e d in t h e s u m o f $ M O O o r a n y m u lt ip le
....................
0 5,0 0 0
N e t D e b t .......................... ..
t h e r e o f a s U d d e r s m a y d e s ir e . P r in c ip a l a n d I n te r
P u b lic P r o p e r ty O w n e d b y C ity V a lu e d a t
5 0 0 ,0 0 0
e s t w ill b e n a y i b l e i n N e w Y o r k C i t y in g o ld c o in o f
t h e U n ite d S t a t e s o f A m e r ic a o f t h e p r e s e n t s ta n d
P o p u l a t i o n , 5 8 OOO
a r d o f w e ig h t a n d fin e n e s s .
T h e S ta te C on stitu tio n lim its iU acon’ s
A ll b id s m u s t p r o v id e f o r th e p a y m e n t o f a c c r u e d
to ta l in d e b te d n ess to 7 p er cent o f the a s
I n t e r e s t fr o m F e b r u a r y 1 s t . (8 9 7 , t o d a t e o f d e liv e r y
o f bond s.
sessed v a lu a tio n .
B id s m u s t h e in w r itin g , s ig n e d b y th e p r o p o s e r a n d
T h e C i t y ’s A n n u a l R e v e n u e i s a b o u t $ 2 5 0 ,0 0 0 , o f
b e d e l i v e r e d s e a l e d a t t h e o ffic e , o f t h e T r u s t e e s o f
t h e S i n k i n g F u n d o f t h e C i t y o f C in c in n a t i, C it y H u ll,
w h i c h f6 0 ,0 O 0 i s a p p r o p r i a t e d a n n u a l l y t o t h e p a y
C in c i n n a t i , O h i o , b y o r b e f o r e h a l f p a s t t w o o 'c l o c k
m e n t o f I n te r e s t a n d S in k in g F u n d .
o f t h e a f t e r n o o n o f M o n d a y , M a r c h 2 0 th , i s 97.
P r i c e a n d p a r t i c u la r s o n a p p M c a tio n .
T h e s e a le d e n v e lo p e c o n t a in in g h ills m u s t h a v e e n
d o r s e d o n th e o u t s id e “ B id s f o r B o n d s ,"
E a c h b id m u s t b e a c c o m p a n ie d b y a c e r tifie d c h e c k
f o r o n e p e r c e n t o f th e p a r v a lu e o f b o n d s b id lo r ;
3 B ro a d S tre e t, N e w Y o rk*
s a i d c h e c k m u s t, b e p a y a b l e t o ( h e o r d e r o f “ T h e
T r u s t e e s o f th e S in k in g F u n d o f t h e C i t y o f C in c in
n a t i, O h io ," w it h o u t c o n d itio n s , a n d m u s t b e d r a w n
u p o n a n in c o r p o r a te d h a n k o r t r u s t c o m p a n y lo c a t e d
$ 2 5 , 0 0 0
in t h e C it y o f C in c in n a ti. B o s to n o r N e w Y o r k .
B id d e r s a r e r e q u e s t e d to r e a d t h e a d v e r t is e m e n t
c a r e f u ll y , o s n o b id w ill b e c o n s id e r e d t h a t is n o t
c le a r ly e x p r e s s e d a n d d o e s n o t s t r i c t l y c o m p ly w ith
a ll o f t h e a b o v e c o n o it io n s . T h e b o n d s a r e to b e
is s u e d u n d e r a u t b o io ..
»f S e c t i o n */720 o f t h e B e
v is e d S t a t u t e s o f O h io , a s s u p p le m e n te d b y S e c tio n s
2 7 2 9 G , 2 72 9 H , 272 9 i . M a r c h 8 0 th , 1 8 * 6 - 9 2 O h io
B e r k l e y , Y a . M a rc h 1 8 ,1 8 9 7 .
L a w s , p a g e i'4 — r*n d t h i s a d v e r t i s e m e n t i s m a d e In
J o h n W h e t s t o n e . C h a ir m a n o f F in a n c e C o m m itte e ,
c o m p l i a n c e w i t h S e c t i o n 7 7 « '9 o r s a i d O h i o R e v i s e d
w i l l r e c e i v e u n fe d A p r i l D A h . 1 M J7 . n o o n , s e a l e d p r o S t a t u t e f t —80 O h io L a w s p a g e 16 8 ,
P s a l s i o r 5 p e r c e n t 3" - y e a r P e r m a n e n t . I m p r o v e
P a y m e n t f o r an d d e liv e r y o f b o n d s m a y b e a t t h e
T h i r d N a t i o n a l B a n k O f C i n c i n n a t i o r a t i h e A m e r i m e n t B o n d s o f t h i s t o w n t o t h e a m o u n t o f $ 2 5 ,0 0 0 0 0 ,
B o n d s t o h e d a t e d J u ly 1 , 1 8 o :. a n d t o b e d e liv e r e d
c a n E x c h a n g e N a tio n a l
B ank o f N ew Y o rk , as
t
o p u r c h a s e r a t N o r f o l k , V o ., o r N e w Y o r k . D e u o m S b id d e r s m a y d e s ig n a t e ; p a y m e n t w ill b e r e q u ir e d
1 a i i o n $ 1 ,(.h>o o n .
in t e r e s t p a y a b le s e n d - a n n u a lly .
u p o n d e liv e r y o b o n d s a n d su c h d e liv e r y o f b o n d s
E
n c l o s e c e r t i f i e d c h e c k o n s o m e N a t i o n a l B a n k 3o r t»
w i ll b e m a d e in I n s t a llm e n t s c o r r e s p o n d in g t o o n e o r
p e r c e n t o t a m o u n t h i d f o r . R i g h t Is r e s e r v i d t o r e
m o r e o f t h e o u ts ta n d in g a m o u n ts o f t h e is s u e s o f
j e c t a n y o r a l l b i d s . F« r f u r t h e r p a r t i c u l a r s a p p l y a s
b o n d s to b e p a id , a n d n o t b it e r in a n y c a s e t h a n t e n
above.
d a y s b e fo r e su c h is s u e o r Is s u e s b e c o m e p a y a b le to
th e h o ld e r s t h e r e o f a i d e r t h e c a ll m a d e b y t h e c it y
t h e r e f o r . T h e n e t a m o u n t s o f t h e is s u e s m it s t a n d
I n f a r e * 4 * 5 . 500, $5S»« 0 y , $ 2 2 0 ,5 * 0 , $ 1 ,00 0 .0 ■ (). $ 7 0 0 ,- .
000, c o r r e s p o n d in g t o t h e a m o u n t o f t h e b o n d s o ffe r e d
fo r s a le tra d er t h is a d v e r tise m e n t.
T h e c h e c k s o f u n s u c c e s s f u l b id d e r s w ill b e im
m e d ia te ly r e tu r n e d to th e m b* t h e T r u s te e s th r o u g h
t h e m a il, u n le s s o th e r w is e r e q u e s te d by b id d e r s. N o
B A N K E R S.
1
a t e r e s t w ill b e a llo w e d o n t h e c h e c k o f t h e s u c c e s s
f u l b id d e r , p r o c e e d s o f w h ic h w ill b e a p p lie d to w a r d
p a y m e n t fo r b o n d s.
T h e T r u s te e s o f th e S in k in g F u n d r e s e r v e t h e r ig h t
to r e j e c t a n y o r a ll b id s , a n d t o a c c e p t s u c h b id o r
b id s a s m a y s e e m t o th e m t h e m o s t a d v a n ta g e o u s to
t h e c ity .
B y o rd e r o f th e T r u s te e s o f th e S in k in g F u n d o f
h e C i t y o f O i n c l n n a ! i. O h i o , t h i s F e b r u a r y 2 3 d , J 8 9 7 ,
A tte st;
J U L IU S D E X T E R .
L o t ’ 18 C A R R O L L , C le r k ,
P re s id e n t,
53 8
207
N E W LOANS.
$ 1 3 0 , 0 0 0
B a t e d O cr. 1 st, 1 8 9 6 .
14 7
H i g h P o i n t . N , C ..................
2 14 ■ H ills b o r o , T e x .
.. . ..
342
l l i i i s b o r o u g b B ’d g e F i r e
147
D is tr ic t, N
3 - H H i n d s C o , M i s s ..................
14 7
H ira m , o
......
- .
H o b o k e n , N .J .
. - .2 0 0 ,
244
l l o l d c u . M o .........2 9 7 , 3 - 9 ,
t a l o n N , v ..................0 5 ,
' 1 a llia C o , O
. . . 05,
t i a l i i p o l l s , O h i o ......... ..
G a l l u p . N , M o s t ....................
G a l v e s t o n , T e x ........... 4 9 ,
434.
i G a lv e s t o n C o - .,T e x . CH S,
j G u s iin I r r ig a t i o n D ie t.,
;
B ra d y. N eb ., . . . . . . . . .
1 G I H e t t . C o l ...................................
G i i l e t t S c h o o l D i e t , C o l.
G l e n f U d g e , N . J .........
! G le n v ille . O h io .
I G lo v e r s v ille , N . Y .,,1 9 0 ,
389,
G l y n n C o . . G a ............. ..
G o th e n b u rg , N e b ... .... .
1 G rah am , V a
....... .
G r e e n s b o r o , N . C . . . 533,
i G r e e n S p r in g , O .
i G r e e n w o o d , M i s s ......... . . .
i G r e e n w o o d , S . C .. — . . .
G r e n a d a . M i s s . .3 4 2 ,4 3 4 ,
G r o v e C i t y , P a . . . _____
G r u n d y C e n t r e , l a ..............
3 M
sss
MO
6 :8
01 I
f A jiu b u r y , C o n n ,.
1173
0i
U -a ftim m ,
,
1 17 1
D e l t a C o .. C a l . . , . ,
346
D e lt a C o .. M i c k , . .
I l e n i s o n C o . , T e x . ................
I > e n t o n C o . . T e x -------4S3»
4 M
D e n v e r , C o l .....................1 4 6 ,
433
D e x te r, M ie h .
207
D e x t e r , M o . .................. ..
29“
D o th on , A la
........................
9i
D u b u q u e . l a ............. * 1 1 7 1 ,
14 6
D tt lu tu , A l i n a . . . . . . . . . . . .
D u n k i r k . N . Y . . . . . . . . . . *1171
I D u q uesn e. P a .. .. .... ..
19 9
D u r h a m , N . C ............. ..
IS O
.......... ,.
Col
F la s h in g . N . Y
.......
F o n d d u L a e W l s .........
F o r t C o llin s 8 e h ,D B .,C i) l,
F r a n k l i n . M u m , ............. ..
F r a n k l i n F a l l s , N . H .........
o f W h ite
■?,
th e
C o u n ty . I l
lin o is . p a s s e d 1 h e f o l lo w i n g r e s o lu t io n s , t o - w i t : “ R e
s o l v e d . T h a t t h e T r e a s u r e r h e a n d Is h e r e b y d i r e c t e d
t o is s u e t h e fo llo w in g B o n d C a lk a n d t o h a v e t h e
s a m e p u b lis h e d o n e t im e in t h e C o m m e r c i a l a s d
F in a n c ia l C h r o n ic l e o f
t i m e i n s o m e p a p e r in
N e w Y o r k C ity , a n d o n e
C a r r n i, I l l i n o i s . ”
N o w . th e re
fo r e , in c o m p lia n c e w it h th e a b o v e r e s o lu tio n s , I, L .
S . B lu e . T r e a s u r e r o f W h ite
is s u e
C o u n ty
t h e f o l l o w i n g C a ll, in
th e
111. , d o h e r e b y
fo r m p r e s c rib e d b y
s a id B o a r d o f r a ip e r v is o r s . t o w i t ; * n t h e fir s t d a y o f
A p r t l. A . D . 1S9 5, a t
N a tio n a l
T h e
A m e r ic a n
B a t i l t . I w ill p a y t h e
E x ch a n g e
fo llo w in g b o n d s,
v i z .: T h r e e H u n d r e d B o n d s o f F i v e H u n d r e d D o lla r s
1$ 5 0 0 ) e a c h , n u m b e r e d f r o m o n e
(3 0 0 ) i n c l u s i v e , d a t e d
J u ly
<J )
to tb r e e lv u n d r e d
1 s t . 188 5, d u e i n
(20 ) y e a r s f r o m t h e i r d a t e , p a y a b l e a t t W
s a id
co u n ty
th e ir
th e
in
any
y e a r a f t e r t e n ( 10) y e a r s f r o m
d a te , p a y a b le to
change
N a tio n a l
b earer
Bank,
a b o v e - d e s c r ib e d
tw e n ty
o p tio n o f
N ew
a t th e A m e r ic a n E x
Y o rk,
A ll in te r e s t o n
b o n d s , a g g r e g a tin g
d re d an d fi f t y th o u s a n d
one
d o l l a r s ($ 15 0 ,0 9 0 ) w i l l
o n s a id d a te .
L
hun
cease
S. B L U E .
T r e a s u r e r o f W h i l e C o u n t y , IB *
jg s y s .o o o
FALL
RI VER,
MASS, ,
4^ 30-Year Registered Pub
lic Library Bonds.
D A T E D
J A N U A R Y
1,
I n r 1- r c ' K t P a y a b l e J a n u a r y m u l J u l y b y J l u i l
A s-ev -K O ti v a l u a t i o n . . . . . . . . .
. . .... . .....
• o ta l in d e b te d n e s s . . . . . . . . . . . . . . .
••*
W ar e r d e b t.
............................ ..........
S i n k i n s f u n d , .............................................._ S 9 « ,0 0 0
N e t i n d e b t e d n e s s ............... ..
- ........ .......
P o p u l a t i o n , 100,000.
M O M <f5
^
^
$ 1 ,5 1 3 ,4 0 5 '
F a ll R i v e r r a n k s higti a s n C it y o f t h e firs t-cla s s *
I ts fin a n c ia l c o n d it io n is e x c e p t io n a lly s tr o n g , t h e
n e t i n d e b t e d n e s s b e t n c l e s s t h a n g i f '1 o f i t s a s s e s s e d
v a l u a t i o n . A S i n k i n g F u n d t o » e t n o t h e s e b o n d s at:
m a tu r ity h aa b een c r e a te d
. .
_
.
T h e b o n d s « r e t m a u t h o r iz e d in v e s t m e n t f o r S a v in g s B a n k s a n d E s t a t e s in t h e S t a t e o f N e w Y o r k .
3> g a l o p i n i o n a n d n a p e r s f u r n i s h e d .
P r ic e s a n d p a r t ic u la r s o n a p p lic a t io n .
P r ic e s
an d
P a r tic u la r s
on
C. H. W H I T E
A p p lic a tio n
& CO ,
B A N M .B R S .
7 2
B ro a d w a y ,
N ew ' Y o r k ,
THK CHRONICLE
Makch 07, 18'j 7, j
INDEX T O S TA T E AND C ITY
434
389
147
579
50
533
533
579
482
579
389
T ake C o , Cal ...
J L ia n ca ste r. P a —
L a r e d o . T e x .........
L a u r e n s , 8. C ..........
L a w r e n c e C o., O . . . i a o ,
L e b a n o n . O ...........
L e e C o ., A l a
— “ 1172,
L e b i g h t o n . Pa-------.. 245,
L e R o v , M i n n ......... ...3 4 3 ,
L e w e s , D el
L illia n I r r ig . D is i.. W a l 533
w orth . N eb —
533
L im a , O ........... .......... .. 200,
389
L in c o ln , N e b .
3
91
L i t t l e F a lls . N . Y
200
L it t l e s t o w n . P a ..
533
L ock p ort. N, Y —
*1172
L on g B ranch. N. J
50
L o s A n g e l e s C o.. C a l. . . .
.. 95,
579
L o u is v i ll e , K y .
643
L o w e l l. M a s s ..........
. . .50,
579
L yn ch b u rg . V a
L y n n , M a s s ..............
482
343
A Y a b e l . M in n —
343
I L L a e o n , (7 a ........... ...1 4 7 ,
245
M a d is o n , M in n ...
M a d is o n C o , M o n t ..........
533
482
M a d is o n S c h . D ist , N . J .
M a h o n in g C o ., o . .
579
M a r ie t t a , O ...................5 9 7 .
533
3 S ‘ >,
M a r lb o r o u g h , M a s s .......... 4 8 4
M a r t in s b u fg . \\ . \ a ........
4 34
343
M a s s a c h u s e t t s .......
389
M a s s illo n , O h i o . . .
431
M a u m e e . O ...........
M c K e e s p o r t , P a ..
117 3
579
M e d fo r d , M a ss . . .
M e d ia , O _____ _____
1 >9
434
M e d in a , O ...............
297
M e m p h is , T e n n . ..
147
M e n a s h a . W i s ........
M ia m is b u rg . O —
aa3
M i d d le L o u p V a ll e y T rrig a t .D is ., S a r g e n t, N e b .,
24 6
95,
4^4
M id d le p o r t , O ............. —
147
M id d le s e x C o .. N . J ..........
482
M id d le t o w n . N . Y . . . 147,
297
M ilw a u k e e , W i s
..........
579
M in g o J u n c t i o n . O ..........
200
M it c n e li. S. D ............. ..
296
M it c h e ll C o. T e x . . .
.
M o h a w k . N . Y ...................
343
95
M o lin e , 111............................
147
M o n r o e . N . C .....................
M o n t g o m e r y , A la . . 200,
3 »9 ,
531
NFW
M o n ti c e l lo , F la .................
M o n t o u r C o ., P a ................
M o r g a n t o w n , W . V a .,
95,
M o r r is t o w n , M i n u .............
M o r r is v ille . V t ...................
M o u lt r ie . G a ...............389,
M t . P le a s a n t . N. Y ........
M t . S te r lin g , O h io . .297,
M t . V e r n o n . N . Y . 50, 95,
147. 2a7, 482.
M u s k e g o n , M ic h
..........
M u s k in g u m C o ., 0 ..3 8 9 ,
579
1 50
147
434
344
579
200
433
534
147
482
\ a s h u a , N . H ...................
50
•* a t ic k . M a s s ...................
51
N a u g a tu c k , C o n n ----------483
N eb ra sk a
....................... 4 * 3
N e b r a s k a C ity , N e b —
202
N e b r a s k a C it y S c h o o l
434
D is t., N e b ......................
N e v a d a C ity . C a l.............
313
N e w B e d fo r d , M a ss .,
434
*1172, 343
N e w b e r g , O r e .................
579
297
N e w b e r r y , S. C .................
N e w B r it a in . C o n n . .
*1172
N e w b u r g .N .Y .............51,
434
N e w C a stle C o .. D e l ....... 3 4 I
N e w H a v e n . C o n n — 51.
95
N e w L o n d o n , C o n n ........* 1 1 7 3
343
N e w M e x i c o ............. . ..
N e w O rle a n s , L a ................ *1172
3"9
N ew p ort, R . I
............
N e w R o c h e ll e , N. Y . ..
431
N e w R o c h e ll e S c h . D st.
N o . 1, N . Y ..................534,
434
N e w t o n , K a n .......................
N e w t o n . M a s s ........ *1172, 3 1 5
5 .9
N e w t o w n , N . Y .................
N ew tow n
U n io n F re e
S ch . D is . N o . 14 (L . I.>,
51
N. Y ......................................
N e w Y o r k ... .51 , 14 7. 245,
quq 534
580
N e w Y o r k C ity . N . Y.147*.
f« 0
483, 534.
483
N ile s , O h io
.....................
343
N o r fo l k , V a — .
....
680
N o r f o l k C o ., M a ss ............
580
N o r t h A d a m s , M a s s ........
200
N o r t h a m p t o n , M a ss.........
580
N o r th D a k ota
N o r t h H e m p s t e a d , N . Y. 5 * 0
‘ 8*
N o r w o o d , O ............61, 4 3 l,
a k d a le . P a
a k ia n d , C a l..
1 -3 0 ,
O k la h o m a T e r r i t o r y -----O m a h a , N e b ..........6 i,2 0 < ‘ ,
O
531
e s v ille ,
P aa in
w tu ck et,
O .............. .
R. I
—
P a x t o n I r r i g . D is ., N e b ..
P e n o b s c o t C o., M e ............
P e r t h A m b o y , N . J ..........
P h e lp s , N. V......... 5 1 ,1 4 8 ,
P h ila d e lp h ia , P a ......... 96,
1 4 8 ,2 4 5 ,
P h o e n ix , A . T .....................
P ie r r e , S. D ...........................
P ie r c e C o ., W a s h ................
P ie r c e C o., W i s ...................
P im a C o., A r i z ...................
P it t s f o r d , N . Y ...................
I P la in fie ld , N . J ......... 200,
P la t t s m o u t h , M o ..............
| P le a s a n t R id g e . 0 .............
: P o c a h o n t a s , v a .1 4 8 , 246,
; P o m e r o y . O ...........................
; P o p e C o., I l l .........................
! P o r t G ib s o n , M i s s . . .96 ,
P o r t H u r o n , M i c h . *1172,
1 P o r t la n d . M e ............... 343,
P r o c t o r . V t ..................... 96,
P r o v id e n c e , R . 1 ...............
P u e b lo , C o l.
..
389,
P u e b lo C o., C o l ...................
634
434
200
534
14 7
200
4 -3
68l>
4S3
343
389
96
534
t 9s
534
51
534
96
298
435
58o
435
29s
580
483
148
Q uu eaeknesr
C ity, O ..............
534
C o ., N . Y ..........
580
g u in c y . 111................... 3 8 9
T l a c i n e , W i s ............
580
■ R a n d o lp h C o , A l a . 435,
R a n k in , P a ..................
148
R a y m o n d , M is s ........
148
R e a d in g , P a .......................
R e n o , N e v ....................
26
R e n s s e la e r C o , N . Y ..
148, 246, 2 9 8 . 4
R o a n o k e . V a ..............
580
R o m -, N .Y
....* 1 1 7 2 ,
R y e a n d H a r r is o n J o in t
U n .F ree S c h .D is t .,N . Y .
T aa cr or ymt ao w, nW, aNs h. Y.............
............
483
*3
d2
246
C J a cra m sn to, C a l............
531
O a g in a w , M i c b
435. 5 3 1
S t. A lb a n s. V t
200, -'4 6
St. A lb a n s. W . V a ..........
200
St. A lb a n s A c a d e m y &
20 0
G rad ed
School
S t. J o h n s b u r y , V t . 298, 3 4 3
8 t. J o s e p h . M o ................... 2 0 3
S t. J o s e p h S ch . D is t.,M o . 2 0 3
S t. L a w r e n c e C o ., N. Y ..
96
St. L o u is , M o. ------ 3 9 1 ,
483
S t. P a u l. M in n .....................
634
S a n d B e a ch , M i c h .............
534
S a n d u sk y . O . . . . * 1 1 7 4 ,
96
S a n F r a n c is c o , C al ..........
299
Sa n J o s e . C a l................. 97,
148
S a n M ig u e l C o ., C o l ........
299
S a n ta C ru z, C al ...............
3 -9
S a rg e n t, N e b .......................
148
S a u n d e r s C o., N e b ...........
200
S c a r s d a le , N . Y .................
62
S c h e n e c t a d y , N. Y ...........
2 "0
- e a Cliff, N . Y . . . . .4 3 5 ,
534
S e v ie r C o., T e n n ...............
299
S h a rp s b u r g . P a ................... *1172
S h a w n e e C o „ K a n .......... 3 4 6
S h e lb y , O h io ................343,
435
S id n e y . l a ................... 200,
3 i3
S io u x C ity , la .
. 200,
343
S n o h o m is h C o., W a s h . ..
3 i3
S n y is la n d L e v e e D ra in
a g e D is tr ic t , 111..............
313
S o u t h O ra n g e , N . J ..........
580
S p a rta n b u rg . S. C .............
534
S p r in g fie ld , M ass.,
* 1 1 7 3 ,1 4 8 .
200
S p r in g fie ld . 0 .....................
484
S t a m fo r d , C o n n — 201, 3 8 9
S ta rk C o ., <»........................* 1 1 7 5
S t o n e h a m . M a s s ............... * j 172
S u isu n , C a l...........................
lie
S u lliv a n , il l..........................
97
S u lliv a n C o ., I n d ...............
52
S u m m e r v ille , G a. ...3 9 0 ,
534
S u p e r io r , W i s ......................
481
S y ra cu s e , N . Y ...................
390
534
!
i d s-
trict. V t
*1172, 96
St. C r o ix C o ., W is . ..2 0 0 .
580
580
680
't’a u n t o n . M a ss . . . 3 4 5 .
580
T e c u m s e h . (). T .........435, 5 8 0
T e r r e H a u t e . I n d ...........
580
T e x a s .......................................
580
T h r e e O a k s, M ic h ............. * 0 72
T iffin . O h io .
..2 9 9 ,
3 «0
T ip p e c a n o e C ity , O h i o . .
2.+y
T o le d o . O h i o . . . .299, 390,
435,
631
T r e m o n t , P a .......................
390
T re n to n , N. J — * 1 1 5 2 ,
3>3
T r o y , N . Y ............................ 4 3 5
T u s c u m b ia , A la ...............
43 j
U lsn itoenrvCi llo..e NF. Yir e
01,
D is
t r ic t , C o n n .........................
N E W LOANS.
LOANS
FOR
CH IC A G O .
115
NEW
D earborn S t,
2
W ALL
STREET.
NEW
YORK.
M ill s
&
436
534
313
313
97,
W a t e r fo r d , M e ...................
484
W a t e r v lie t , N . Y ...............
299
W a u k e s h a , W i s .................
97
W e b b , N . y ..........................
201
W e b s t e r G r o v e . M o ........
97
W e lls b u r g , W . V a .........
390
W e lls C o.. N. J)...................
484
W e s t A le x a n d r ia , O h io .
299
W e s t b o r o u g h , M a s s ........
148
W e s t C h e s te r. P a ___
534
W e s t e r v ille , O h io .............
299
W e s t m o r e la n d C o., P a . .
343
W e s t O ra n g e . N . J ........... 3 0 9
W e s t P o in t , M is s
........
299
W e s t p o r t , M o .....................
148
W e s t w o o d , O h io ...............
534
W e t u m p k a , A la ......... 436,
580
W h it e P la in s . N. Y ..3 » 0 ,
484
W h it e s t o n e . N . Y
___
436
W h it m a n , M a s s ............... * 1 1 7 4
W h it m a n C o.. W a s h ........ 4 3 6
W ild w o o d . N . J . ..
484
W ilk e s B a rre. P a . . . .. 5 2 ,
436
W ilk in s b u r g , P a ..
201,
390
W illia m s n o r t S c h o o l D ist r ic t . P a ..................*1172, 1 4 8
W ilm in g t o n . D e l.. ...2 0 1 ,
246
W ils o n . X . C ..........
344
W in t h r o p , M in n ..
344
W i s c o n s i n ...............
i4 6
W is e C o., V a .........
52
W o o n s o c k e t . It. I
299
W o o s t e r . O h io .......
344
W o r c e s t e r , M a s s .52, 247,
534
V e a d o n . P a . .. . . 436,
■ o n k e r s , N . Y . . . ...2 0 2 ,
1 o rk . P a ...................
Y o u n g s to w n , O ... .. .. 9 7 ,
534
247
390
535
J a n e s v ille , O ...
535
LOANS.
YORK
D U E N O V E M B E R 1st, 1916.
I N T E R E S T P A Y A B L E J A N . 1 st A N D J U L Y 1st,
E x e c u t o r s , A d m in is t r a t o r s , G u a r d ia n s a n d o t h e r s
h o ld in g tru s t fu n d s a re a u th o r iz e d b y a n a c t o f t h e
N ew Y o r k L e g is la t u r e p a ss e d M a rc h 1 4 ,1 8 8 9 , t o in
v e s t in t h e s e b o n d s .
P R IC E A N D P A R T IC U L A R S O N A P P L IC A T IO N
Rudolph Kleybolte
YORK.
2 W a ll St
52
634
GOLD BONDS.
LISTS MAILED ON APPLICATION
Co.,
534
299
3V2 PER C EN T
BONDS.
Leach &
390
202
W J a c o , T e x .......................
* a llt n g fo r d , C o n n —
W a llin g fo r d C en tra l Sch .
D ist.. C o n n .........................
W a lt h a m , M a s s .................
W a s h in g t o n , P a . ...2 0 1 ,
W a t e r b u ry . C o n n ........52,
NEW
SAVI NGS BANK AND T R U S T
Farson,
390 !
T f a l e n t i n e N e b .............
▼ e r n o n C o., M o ..............
V ic t o r , C o l ............................
V is a lia , C a l...........................
343
534
148
CITY OF
M U N IC IP A L
FUNDS.
390
U p p e r A l t o n S c h o o l D is
....
t r ic t . I l l .............
U p p e r S a n d u sk y , O ..390,
U x b r id g e , M a s s .................
NEW
WHANN & SCHLESING-ER
PUBLIC SECURITIES
S U IT A B L E
D E P A R T M E N T -C oncluded .
O n e o n t a , N . Y .....................
147
O ra n g e , N . Y ................... * 1 1 7 5
O ra n g e C o.. N . J ................
434
O r e g o n , M o ...........................
298
O w yhee C
I d a h o ........ 2 9 *
O y s t e r B a y , N . Y ..............
5 0
5 8
245
645
B lanchard,
&
Co.,
BANKERS
N o r t h w e s t c o r . o f T h ir d a n d W a ln u t S tre e ts ,
BAXKERS.
S 75.000
Herkimer Mohawk llion
Frankfort Electric Ry.
&
MUNICIPAL BONDS
BOU GH T A N D SOLD.
.F I R S T M O R G A G E , G O L D 52 B O N D S .
Bond Issue, $ 1 5 0 ,0 0 0 .
C a p ita l 8tocU , 8 1 5 0 .0 0 0 .
T h is r o a d h a s b e e n p a y in g d i v id e n d s o f 6% o n its
s t o c k a n d e a r n in g a b o u t 9£ f o r 18 m o n t h s .
P r ic e a n d s p e c ia l c i r c u la r on a p p lic a t io n .
D evon sh ire
80 B R O A D W a )
N E W V (> K K .
GOVERNMENT
and
Sc
BOSTON.
15 W A L L S T R E E T ,
MUNICIPAL
-
NEW
FO R SALE BY
M AS ON , LEWIS & CO. ,
FOR
New York Savings Banks.
i t y o f C a m b r i d g e , M a s s .,
Ohio,
■
■
4s
•
S I S ta te S t.,
BOSTON,
4s
YORK
BONDS.
E. C. STANWOOD & Co.
BANKERS,
121 Devonshire Street.
BOSTON.
t-IS T S SE NT UPON A P P L IC A T IO N .
BOSTON.
M IL K
-
ORIPPLE GREEK, COLO.,
t b e le a d in g g o ld -m in in g r e g io n in t h e U . S., w ith
n e a rly 300 Daying m in es, p r o d u c in g $1,000,000 per
m o n t h ; p o p u la t io n o f t o w n , 2 0,0 00 ; o f d is t r ic t , 40,000,
—is y e t in its infancy. T h e b ig p r o fits c o m e fr o m d e
v e lo p in g mining cla im s a n d a d v a n c e in v a lu e s . 1
o ffe r u n d e v e lo p e d cla im , n ea rsh ipp in g m in es,*L O ,< .0 O ;
can le t a n d bond a t $30,000. F iv e - s i x t h s o f s t o c k ib
c o m p a n y owning 19 a c r e s c h o i c e lo c a t io n , $20,000;
can b o n d a t *70,000. *1,500 b u y s le a s e , n o w w o r k
in g h e a rt o f d istr ict, w ith b o n d f o r c la im a t *40,000
H a lf in t e r e s t in claim * 1 5 0 0 ; *600 p r o c u r e s p a ten t
a n d g e t s one- th ir d in te r e s t in a n o t h e r ; b o t h fair lo c a 'p a r t ly d e v e lo p e d m in e, s h ip p in g a n d p a y in g , has
p r o d u c e d *.i0,oou; p r ic e *150,000.
p
S . M . S M I T H . P . O . B o x 1599.
R o o m 1, F ir st N a tio n a l B a n k B u ild in g ,
C r ip p le C r e e k C o lo .
L a S a lle St.,
CH IC A G O .
BANKERS,
DEALERS IN MUNICIPAL BONDS,
STREET,
MASS.
BANKERS,
1»1
W. J. Hayes & Sons,
A fu ll d e s c r ip t io n o f e it h e r o f t h e s e is s u e s , w it h
p r ic e s. w ill b e m a ile d o n a p p lic a t io n .
19
CO..
BANKERS.
CHICAGO.
M ass.
E. H. ROLLINS & SONS,
B o u g h t and Sold.
N. W. HARRIS
B o sto n ,
C h i c a g o D r a i n a g e ......................................................4J^ s
l i e s M o i n e s , l a . ( S c h o o l ) .....................................4 $ 6 s
. M u s k e g o n . M i c h ...................................................... 5 s
S o u t h O m a h a , N e b r a s k a .....................................7 s
A s h l a n d , W i s . ( G o l d ) . . . ....... .............................5 s
W e s t C h i c a g o S t . R R . ( T u n n e l ) .................... 5 s
F ir s t M o r tg a g e .
INVESTMENTS
C ity o f ll e v e l a n d ,
M U N IC IP A L BONDS
B u ild in g
10 S ta te S treet,
EDWD. G. JONES CO..
421 C H E S T N U T S T R E E T .
P H IL A D E L P H IA .
CINCINNATI, O.
4 1 and 4 3 Wal l S treet, New Y o rk .
S tre e t R a ilw a y B o n d s , a n d o t h e r h ig h -g r a d e In
v estm en ts.
B O S T O N , M A S S .,
C l e v e l a n d , O h io *
7 E x c h a n g e P la ce .
3 1 1 -3 1 3 S u p e rio r St.
Gable Address, “ K E N N E T H
MORTGAGE LOANS
TEXAS.
IN
In terest 7
NO
P er C ent
N et.
CO Y1M 18SIO N S c n a r g e d b o r r o w e r
u n til lo a n s h a v e p r o v e u g o o d
F K A 1 V C IS
SM ITH
or
le n d e r
At C O . ,
SA N AN TO N IO . T E X A S .
THE CHRONICLE.
636
[V«U. L-X JV .
B a n k ers and S volicvs ©nt o f f|cm ^orlv.
Henry Sproul
78
FOVBTH
ST- LOUIS.
PHILADELPHIA.
PITTSBURG.
& Co.,
A Y E N l 'K ,
P IT T S B U R G , P A .
Donaldson Bond & Stock Co.
ST A H L & STR A U B,
INVESTMENT BANKERS,
MEMBERS o r THE
N S W Y O R K STOCK H X C H A M O *,
P H I L A D E L P H I A S T O C K K X C H A N G ft,
P I T T S B U R G K X C B A N Q E <S MEMBERS),
C H IC A G O S T O C K E X C H A N G E ,
C H IC A G O B O A R D O P T R A D K .
IB
ROND AND STOCK BROKERS.
3 d a n d O liv e S tr e e ts ,
118 S O U T H
F IF T H
STREET,
ST.
PESS,
CORRESPON DENTS
J. E. Crawford & Son.,
E. W. Clark & Co.,
Street Railway Securities a Specialty.
P A .
BAN K ERS AND BROKERS
S T . L O U IS , m o .
Ed w
ards
W
h it a k e r
,
Ch a r l e s H o d g m
ak
.
Whitaker & Hodgman,
BOND AND STO CK B R O K E R S ,
3 0 0 N o r tli F o u r t h S tre e t,
S T . U O U IS .
N o. 67 F O U R T H A V E N U E .
B O U R S E B U IL D IN G ,
T . Mellon & Sons’ Bank,
EASTERN.
PHILADELPHIA.
M e m b e r s P h ila . a n d N e w
Y o r k S to ck E x ch a n g e s
S. D. Loring,
P IT T S B U R G H , P A .
C O L L E C T IO N S
IN V E S T M E N T S
W . G. H opper.
H „ S. H o p p e s
M e m b e r s o f P h il a d e lp h ia S t o c k E x c h a n g e .
Wm. G. Hopper & Co.,
STOCK AND BOND BROKERS,
CHICAGO.
28 South Third Street, Philadelphia
A. O. Slaughter & Co.,
S p e c ia l a t t e n t i o n g iv e n t o
P H IL A D E L P H IA
S T O C K S a n d IN V E S T M E N T S E C U R IT IE S .
P . O . B o x IM S .
L o c a l t e le p h o n e 1 60.
53 S T A T E S T R E E T , B O S T O N .
D B A L B R IN
High- Grade Investment Securities.
S treet H a llw a y B a n d s a S p ecia lty .
M I S CE LL ANE OU S.
SOUTHERN.
B A N K E R S AND B R O K E R S ,
Ladd & Tilton,
1 1 5 -1 1 7 L A S A L L E S T R E E T ,
J-P. ANDKE’ MOTTTJ & CO.
C H IC A G O , IL L S .
E xch a n ge,
B rokers.
305 P I N E S T R E E T .
BANKERS AND BROKERS
O ld e s t P it t s b u r g M e m b e r s N . Y . S t o c k E x c h a n g e
S tock
tock
B AN K ERS A N D BROKERS,
Whitney & Stephenson, Edward B. Smith & Co.,
Y ork
S
N o. 139 S o u d i F o u r th St.,
T r a n s a c t a g e n e r a l b a n k in g b u s in e s s .
A l lo w s
in t e r e s t o n d e p o s it s .
M e m b e r s o f t h e P h ila d e lp h ia a n d N e w Y o r k S t o c k
E x c h a n g e s , a n d c o n n e c t e d b y p r iv a t e w ir e w it h
N ow Y ork.
ESTABLISHED 1871.
M em b er* N ew
and
P H IL A D E L P H IA .
B ank o f N ew Y ork , N. B . A .
F ir s t N a t io n a l B a n k o f P h ila d e lp h ia ,
G K IC B R A L B A N K IN G .
MO.
P H IL A D E L P H IA .
Bond
BAN KERS.
P I T T S B U R G ,
L O U IS ,
C D R E X E L B U IL D IN G ),
N. Holmes & Sons,
P IT T S B U R G ,
W ASH ED 18)58.3
st a
BAN KERS,
C h ic a g o
PO RTLAN D , OREGON.
Investment Brokers,
S t o c k E x c h a n g e a n d C h ic a g o B o a r d o f T r a d e .
E S T A B L I S H E D I N 1859.
[amieson & Co.,
J«
STO CK S—B O N D S,
NORFOLK, V A .
DEARBORN
STREET
SOUTHERN
John W. Dickey,
P r i v a t e w ir e t o N e w Y o r k a n d P h ila d e lp h ia .
BROKER.
Loeb & Gatzert,
A U G U S T A , GEORGIA.
S T R E E T , C H IC A G O .
M IU T IIE R N
S E C U R IT IE S .
I m p r o v e d a n d in c o m e - b e a r in g C h ic a g o c i t y p r o p e r t y .
P rin cip a l and In te r e st P a y a b le in G old
Davenport & Co.,
R A N K E R S
CO RK K SPO xN PEN CE S O L IC IT E D .
A. Ci. Decker & Co.,
UNOORPORATIB)
C O M M E R C IA L PAPER
151 La Salle S t, Chicago, 111.
&
M
a y e r
8 . W . C o r n e r T h ir d an d W a ln u t S tre e t* .
C IN C IN N A T I, O H IO .
MUNICIPAL BONDS.
H i g h -G r a d e C it y , C o u n t y T o w n a n d S c h o o l B o n d s ,
i « le a d in g p r o s p e r o u s S t a t e s o f t h e U n io n ,
e s p e c ia lly a d a p t e d f o r s a f e a n d p e r m a n e n t i u v e s t n e n fo r E s ta te s a n d T r u s t F u n d s .
ssoed
Irwin, Ellis & Ballmann,
BANKERS AND BROKERS.
D eal
in
AN D
C in c in n a t i B o n d s .
Mew Mo. 3 7 E ast T h ir d 8 t.. C in c in n a ti,O h io '
BIGELOW, P r e s ’ t .
F . J . K i p p . C a s h ie r .
WM. B i g e l o w . Y . - P r e s ’t . T . B. C a m p , A a s ' t C a s h i e r .
F . E . K r u e g e r , 2 d A s s ’ t C a s h ie r .
F, G.
B R O K E R S ,
San Francisco.
The First National Bank
O F SAX F R A N C IS C O , C A E .
U N IT E D S T A T E S D E P O S IT A R Y .
C. W. Branch & Co.,
BANKERS AND BROKERS
,
T r a n s a c t a G e n e r a l B a n k in g a n d F o r e ig n E x c h a n g e
B u s in e s s . C o lle c tio n s r e c e iv e S p e c ia l A t t e n t i o n .
ESTABLISH ED I86 0 ,
C o r r e s p o n d e n c e s o l ic it e d a n d i n f o r m a t io n f u r
n i s h e d a b o u t S o u t h e r n S t a te , M u n ic ip a l a n d R a il
r o a d I n v e s t m e n t S e c u r it ie s .
R e f e r e n c e - B a n k o f .N ew Y o r k N, B . A .
St a t e
eason good
8 1 ,0 0 0 ,0 0 0
$ 2 0 0 ,0 0 0
C A P IT A L ,
SU RPLU S,
R IC H M O N D , Y I E G IN IA .
ban k
B u il d in g
R I C H iVI O N I ) ,
C IN C IN N AT I.
FIRST NATIONAL BANK
O F F IC E R S
F ir s t M o r t g a g e s f o r s a le in l a r g e a n d s m a ll a m o u n t s ,
Betting i n v e s t o r s 6, 514 a n d 6 p e r c e n t , s e c u r e d by
BANKS.
OF M IL W A U K E E .
MORTGAGE BANKERS.
S
B u e ln e ..
INVESTMENTS.
C h ic a g o . Ilia .
125 E A S A L L E
B a n k in g
C o l l e c t io n s G i v e n S p e c i a l A t t e n t i o n .
M e m b e rs N e w Y o r k a n d C h ica g o S to ck E x ch a n g e s .
187
T r a n s a c t a G e n e ra l
C a p ita l, 8 1 ,5 0 0 ,0 0 0 i B u r p lu .,
S, G . M U R P H Y , P r e s id e n t,
Ja m e s M o r r r r r , v . - P r e s .
Q e n e r a l B a n k in g B u s in e s s ,
V A •
8 9 5 0 ,0 0 0
JA B . K .L y n c h , C a r tie r
.K .M o f ju t t , A « t. C a r t
j
A oooanU
S o lic ite d .
Canal Bank,
P riv a te
m ore. P h i
N ew Y o r k C orresp on c
r h t t lm a n n & C o . a n d L e h m a n B r o s .
NEW ORLEANS, LA.
(.S u c ce s s o r o f N . 0 . C anat & B a n k in g C o .)
Austin R. Myres,
S A V A N N A H , GA .
BOND
A N D STOCK B R O K E R ,
R e a l E s ta te L o a n s .
C A P IT /
;
A. Strassburger,
STOCKS
M o n t go m e r y, Ala.
R E G IS T E R E D P R IO R L IE N B O N D S
w.
Fred. M. Smith,
& BONDS B R O K E R
S O U T H E R N IN V E S T M E N T S E C U R IT IE S
, 8 1 ,0 0 0 ,0 0 0 .
J . C. M O R R I S , P r e s id e n t , E D W A R D T O B Y , V l c e P r c s . E D G A R N O T T . C a sh ier.
C o r r e s p o n d e n t s —N a tio n a l C ity B a n k , N a t io n a l
B an k o f C om m erce, N ew Y o r k ; B o a tm e n ’s B unk
St L o u is
N.
N a t io n a l B a n k . C h ic a g o i M e r (.-m ,tits' N a t io n a l B a n k , B o s t o n .
70 S O U T H S T R E E T ,
AUBURN, N EW Y O R K .
e p e o la ltT
of B ank
W a te r B on d s an d
M akes
fn r n ls h e
S t o c k s , M u n ic ip a l
and
S o lic ite d I n f o r m a tto
@FedFRASER