Full text of Commercial and Financial Chronicle : March 3, 1877, Vol. 24, No. 610

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HUNT’S

MERCHANTS’

MAGAZINE,

§> W«jpItth IMwtfpapev,
REPRESENTING

THE

INDUSTRIAL

VOL. 24.

AND

COMMERCIAL INTERESTS

THE

SATURDAY, MARCH 3, 1877.
there is

CONTENTS.
THE CHRONICLE.
Resumption and the Bank of
ary
194
Franee
..:
189 Latest Monetary and Commercial
Railroad Strikes and the Public.. 190
English News
194
Cotton—FactB, Figuies. Etc
192 Commercial and
Miscellaneous
Financial Review for February... 193
News
193
The Debt Statement for FehruTHE

BANKERS’

Money Market, U. S. Securities,
dh

Railway Stocks, Gold Market,
Exchange, N. Y. City
Banks, National Banks, etc
199

Foreign

THE

Commercial Epitome

GAZETTE.

Quotations of Stocks and Bonds. 201
Investments, and State, City and
Corporation Finances
202

COMMERCIAL TIMES.
205 ! Breadstnffs

Cotton—

205

j Dry

209

Goods

210

tfljtonule.
The Commercial

OF

and

Financial Chronicle is issued

on

Satur¬

an

immense

all the notes which

reserve

UNITED STATES,

NO. 610of coin

adequate to

pay

off

likely to be presented for pay¬
day of resumption arrives. In these two
respects the French currency bears no analogy to our
For we have neither a
own.
large accumulation of coin
waiting to redeem the greenbacks, nor are the green¬
backs at par with gold.
The second point referred to by our
correspondent is
that France does not wish Germany to draw out and
ment when

are

the

export the reserves of coin which have been accumulated. Still, the notes of the Bank of France are
really
deposit notes which are covered by gold held in trust
for their final

redemption.

In this respect these notes
gold notes rather than our greenbacks,
TERMS OF SUBSCRIPTION-PAYABLE IN ADVANCE:
For One Year, (including postage)
$10 20.
except that the holder of an American gold note has
For Six Months
6 10.
the right at present to demand gold coin in
Annual subscription in London (including postage#
exchange
£2 2s.
Sixmos.
do
do
do
1 3s.
for his promise to pay, while the holder of the French
Subscriptions will be continued nutil ordered stopped by a written order, or
at the publication office. The Publishers cannot be responsible for Remittances
bank note cannot claim the coin on demand, but will
unless made by Drafts or Post-Office Money Orders.
have to wait several months before final
London Office.
redemption is
The London office of the Chronicle is at No. 5 Austin Friars, Old Broad
secured. Practically, however, the notes of the Bank
Street, where subscriptions will be taken at* the prices above named.
Advertisements.
of France are as good as coin. They are equivalent to
Transient advertisements
published at 25 cents pei line for each insertion,
but when definite orders
given for five, or more, insertions, a liberal dis¬ it in the market, and
they pass freely from hand to hand
count is made. No promise of continuous publication in the best
place can be
in exchange for it.
given, as and advertiserscolumn 69 cents per line, each insertion.
anking all Financial must have equal opportunities. Special Notices in
These objections appear to be well taken, and our
william
dana,
)
WILLIAM B. DANA & CO., Publishers,
JOHN g. ployd, jr. )
79 & 81 William Street, NEW YORK.
Post Office Box 4,592.
correspondent sums up by stating that of the $1,000,000,000 of coin existing in France, $440,000,000 is in
fST* A neat file-cover is furnished at 50 cents; postage on the same is 17
cents. Volumes bound for subscribers at $1 50.
the Bank vaults, three quarters of the sum being in gold
tST" For a complete set of the Commercial and Financial Chronicle—
July, 1865, to date—or of Hunt’s Merchants’ Magazine, 1839 to 1871, inquire and one quarter in silver.
He adds, that in all France
at the office.
there is not a single economist who holds the
paperThe Business Department of the Chronicle is represented
among money theory.
It may be worth while to take a brief
Financial Interests in New York City by Mr. Fred. W. Jones.
review of the specie reserves of the Bank of France. In
RESUMPTION AND THE BANK OF FRANCE.
1874, M. Wolowski made an official report to the
A French banker of large experience has sent to us a National
Assembly, in which he said that the metallic
day morning, with the latest

news up

to midnight of Friday.

resemble

our

.

are

are

b.

communication relative to the Bank of France and the
errors made by some of our inflationists in
regard to the

policy of that institution. He complains, first, that
spoken of by our greenback theorists as a
paper-money country, and that the prosperity'of French
France is

commerce

and trade

are

often referred to

as

indications

of the

safety and soundness of a paper-money currency
In reply to this reasoning, our cor¬
respondent states that although France has a legal tender
law, by virtue of which the $530,000,000 of circulating
notes of the Bank of France are irredeemable, and are
a
legal tender for all debts, still there are two modifying
as a

basis of trade.

circumstances

to be borne in mind.

First: the Bank is

reserves

point

of the Bank of France reached the

highest

the 7th April, 1870, when their amount was
1,370 million francs.
This sum was reduced 8th Sep¬
tember, 1870, to 808 million francs, and on the 29th
June, 1871, to 550 million francs. On the 26th De¬
cember, 1871, it rose to 634 millions, but declined 3d
January, 1872, to 630 millions. It was on the 30th
November, 1873, 731 millions, and continued to increase
until it reached 1,164 millions, 25th January, 1874. On
the 8th February, 1877, the amount of specie and bullion
was reported at 2,228,726,938, showing an increase of
1,064 millions of francs, or $212,800,000, in the three
years of preparation for specie resumption.
By these and similar facts our correspondent illustrates
what he terms the “first prerequisite” of resumption,
namely the storing up of amass of coin to be used when
the time of specie payments arrives. “How is it pos¬
on

required by law to resume specie payments January 1,
1878 ; und secondly : the bank notes have for
years
been at par with specie and, indeed, they have never
been at a discount, however small, except for a few
months in 1872, Moreover, in the vaults of the Bank sible,” he asks, “for the United States to hope for a




sue-

190

THE

[March 3, 1877,

CHRONICLE

they have 229 millions. In June, 1871, the circulation was 442
available an adequate amount of coin, so as to meet the millions and the specie reserve $110,000,000. In Novem¬
demand, which will be the more sure and the more ex¬ ber, 1873, the maximum of the note circulation wag
tensive in proportion as there may be any doubt or fear reached and amounted to $602,000,000, the specie reserve
in the public mind.” With regard to the sum which being $146,000,000. After the payment of the German
will be necessary to enable the United States Govern¬ indemnity the work of contraction was rapidly prose¬
ment to resume on the whole of its issues of greenbacks) cuted, while the specie reserve was increased.
The
increase of the notes from the suspension in 1870 to
the suggestion is thrown out that two hundred millions
of coin will not be too much for the purpose, and some November, J873, when the highest expansion occurred,
hope is expressed that if necessary the amount of coin was $351,000,000, and the decrease in specie was $83,required could be obtained by means of a foreign loan. 000,000. The contraction in the volume of the notes
These, however, are questions of detail on which we need from November, 1873, to September, 1875, when it sank
not now enter.
The main point which it is important to to its lowest point, was $135,000,000, and the increase
emphasize is that of the absolute necessity that from some of the specie reserves $179,000,000. As the lowest,
source or other an adequate supply of coin should be col¬
point to which the circulation has been reduced was
lected and held ready in the Treasury before the first steps $467,000,000, and as the circulation is now $528,381,149,
of aotual resumption can safely be taken. On this aspect it appears that the increase from September, 1875, to
of resumption, we have so frequently insisted, and it is February, 1877, has been about 61 millions of dollars.
This increase has been small and fluctuating, in harmony
so familiar to our readers, that we need not expound its
principles or demonstrate its necessity any further. It with the increasing demands of business. In this
is gratifying to find in the example of France that the respect the movements of the bank circulation of France
are much more conducive to the prosperity of industrial
currency has been sustained at par by the agency in part
cessful result of their efforts to resume except

safeguard against depreciation. We do and financial business than hre those of our own country,
not by any means affirm that during the paper-money where, prior to the passage of the redemption law, there
were no means by which the volume of our paper money
era in this country our greenbacks would have been
could be made responsive to the contracting or enlarg¬
free from depreciation had the gold balance in the
Treasury been kept up to a high level, and had there ing demands of business at various seasons of the year.
been some legislative guarantee that this specie accu¬ And even now the greenbacks, which constitute the
mulation should be held in trust for the final redemption larger portion of our paper money, are not subject to
of the greenbacks; but what we do affirm as highly this correcting and salutary control of the laws of com¬
probable is, that with this safeguard against deprecia¬ merce and trade.
These are the more^ practical points in our coirespond¬
tion, our greenbacks would never have deviated so
widely from par, even during the worst stages of our ent^ communication. Whatever we may think of some
of his arguments, there is no doubt that in two respects
war finance.
The next prerequisite of resumption insisted upon by his conclusions are perfectly sound.
First, that France
is [not a paper-money country and that paper-money
our correspondent is the contraction in the amount of
the circulation so as to make it conform to the legiti¬ theories find very little favor there ; and secondly, that
mate demands of business.
The present suspension of the notes of the Bank of France have not fallen below
the Bank of France is not the first which that institu¬ par for the reason that they have been supported by a
tion has had. Early in the revolution of 1848, the Bank large and increasing reserve of coin, and that their
amount has been steadily contracted or enlarged, in con¬
was authorized to suspend specie payments, and its notes
were made a legal tender.
The history of that suspen¬ formity with the demands of business. To these points
sion is an extremely interesting part of the annals of we may add that in France the work of preparing for
French finance, and we trust that Mr. Comptroller Knox, specie payments has been hindered and complicated by
in the sketch which he is reported to be preparing of the the danger which has been imminent that Germany was
progress and functions of the Bank of France, will give watching for an opportunity of getting all the gold she
due attention to this important period in the history of could from France, as from other foreign countries, in
that institution. In 1857, at the culmination of a finan¬ order to aid her own adoption of a gold standard and a
cial revulsion, the authorities of the Bank applied to gold coinage.
•
Napoleon for leave to suspend. It was not granted,
because the specie reserves were 32| per cent, of the
RAILROAD STRIKES AND TI1E PUBLIC.
circulation, and the pressure of the financial situation
During the past month an incident occurred in Massa¬
was not deemed severe enough to justify suspension.
chusetts which attracted little attention outside of the
The Bank had lately been liberated from the old usury
laws, and for its protection and to save its specie re State, but possesses no small significance both as concerns
the possible immediate effects and as to its place among
serves, it advanced its rate of discount to 7, 8 and even
the struggles through which labor is seeking to better
10 per cent, the last-named rate being reached in July,
its position.
We refer to the engineers’ strike on the
1857.
Boston and Maine railroad, which has just been made
The present suspension of specie payments began in
August, 1870. The notes of the Bank of France were the subject of a special report by the State Railroad
then made a legal tender for all debts, but the Bank Commissioners, Messrs. C. F. Adams, jr., A. D. Briggs
and F. M. Johnson, made to the legislature after a spe¬
always accommodated the public with a certain amount
of coin at par. The report for 1875 shows that the Bank cial investigation, and accompanied by a sketch of the
paid out 12G millions in goldMuring the year, and 96 strike and some pointed recommendations for prevention

of this great

.

millions in silver.

during the same period more than 67 millions.
regard to the circulation of the Bank of France,
it,amounted at the outbreak of the Franco-Prussian
war to 251 millions of dollars, the specie reserves being

increased
With




Briefly, the strike
began on the afternoon of February 12, and was simul¬
taneous all along the road, although not quite unex¬
pected, having been caused by the final refusal of the com¬
pany to accede to the demand for a very considerable

But the coin in the vaults of the Bank of the like

occurrences

hereafter.

March
.

The features of the strike on the New
Jersey Central road in October last were repeated,
although less vexatiously, day instead of night being
increase of pay.

chosen.

„

THE CHRONICLE

3, 1877.]

At the hour of four in the afternoon, every

engineer stopped, drew his fires, and abandoned his
engine, passenger trains being left “ laid up ” wherever
they happened to be, and freight trains being abandoned
on sidings.
Such engineers as could be found, not mem¬
bers of the trade organization, were obtained, and oper¬
ations went on in a lagging way. Some of the new¬
comers were bought off; several of the engines were
found to be unsafe, in consequence of the “foaming”
of the boilers produced by soap, which had been placed
iji them ; but after three days of disturbance, inconveni¬
ence, and danger, the operations of the road were gotten
into shape again and the defeat of the strikers was
completed.
Whatever judgment may be passed upon strikes in
general, the operations here undertaken were certainly
carried beyond all reason and patience. We read that
during the strike Mr. Arthur, Grand Chief Engineer of
the Brotherhood of Locomotive Engineers, at a meeting
in Faneuil Hall—a strangely incongruous place for such
language—defended the organization, said they could
hold out till the grass grew green over the rails of the
road, “ denounced the engine-dispatcher, Smith, as a
perjured villain who had violated his oath,” warned the
managers of the Old Colony railroad that if they did
not immediately desist.from giving aid to the Maine
road they would have a strike on their own ; and said that
if the other roads continued to furnish help “he would
stop every road running out of Boston.” This gentle¬
manly engineer, who talks so grandiloquently about vio¬
lation of oaths, and threatens to suspend the entire railroad system of a State, resides in Ohio. What could
possibly be more un-American than the surrender of
their own independence and volition on the part of
mature men, some of them 20 years in the continuous
service of a corporation, to a secret organization so far
that a man living 500 miles away can venture to assert
that their allegiance, sworn or unsworn, will compel
them to obey his orders ? The language quoted is that
used by Mr. Arthur; and after making great allowance
for the effect of excitement upon the utterances of a man
perhaps not very discreet ordinarily, we must admit that,
in the light of similar outbreaks on the part of em¬
ployees, the power of such an organization can go
very far in mischief, even if it cannot do quite all it
threatens.
The law cannot undertake to teach

wisdom ;

it
chastening experience, but it must under¬
take, if not to teach them moderation, at least to com¬
pel them to observe it.
Of course, labor has the
unlimited natural and legal right to set its own price
men

leaves that to

and refuse less.

But these railroad strikes go too

far, and become out¬
rages and interferences. The engineer, with good or
bad reason, may leave his engine at the end of his day’s
trip, or he may even refuse to start on the day’s trip;
but when he abandons it at
he

a

stroke of the

clock, wher¬

the road, he not only breaks a
trip which he virtually made with
the company, and in fact with each passenger, when he
began it, but strikes at the company over the shoulders
of innocent parties upon whom his dereliction may
inflict money loss, inconvenience, and, perhaps, serious
personal injury.
This is an outrage inflicted in the
same
revengeful spirit as that of the person "who puts
obstructions on the track; in either case, the property of
ever

happens to be

contract to finish




the

on

191

the company, which alone is the possible
be reached only through the innocent, and

be abandoned

anywhere,

one

offender, can
if a train can
might be abandoned at

midnight, in

shed somewhere on the Pacific rail¬
of morality is on a par with the act
of a pilot who should deliberately take charge of a ship
and then (if it were possible) abandon it while on a lee
6hore.
Furthermore, railroads are public ways, created
by State authority, notwithstanding piivate rights may
oppose; their uninterrupted operation is necessary to
the public welfare; the blockade in freights caused
costly delay in the movement of coal and, if intensified
as threatened, would have cut off the cotton mills from
supplies of material, and caused an almost incalculable
loss. Obviously, the position of the strikers was not
merely this rightful one: “Our labor not being satis¬
factorily paid, we take it elsewhere, or remove it alto¬
gether from market;” it was, “As you refuse to submit
to our demands, we shall punish you not only
by the
permanent loss of our services, but by the immediate loss
and inconvenience to yourself and to all your passengers
and patrons, occasioned by the necessity of finding new
men, and we shall prolong and increase your trouble by
road.

a snow
And in point

every

interference

They

even
should not

be done.
cars

upon

make with your efforts.”
went so far as to say that the other railroads
do what the State law specifically says shall
we can

The law forbids

of another

a

road to refuse to haul the

road; but, in order to make the

the Maine road tighter, the engineers of

screws

some

parallel and connecting roads, acting, of course, under
orders from the Grand Chief, refused to haul trains con¬
taining cars belonging to that road.
It is

a

maxim that the law does not take notice of the

smallest

things,'but it must at least care for the largest.
impracticable to protect a private
manufacture, the law must nevertheless take notice of
such a large evil as impends when a public highway is
blockaded by a few persons considering themselves
injured and the entire transportation system of a State
is threatened.
The railroad must settle disagreements
with employees as it can; but the law must interfere
when private persons put themselves in the position of
an
enemy towards the community.
Accordingly, the
Massachusetts Commissioners, being obliged to say, after
hearing the statement of both sides, that if the facts as
presented justify the strike as carried on, with all its
attendant losses, dangers, and inconvenience, the comrnunity has no protection whatever, conclude that the
public must not be made the chief sufferer in such con¬
tests, and recommend the early passage of penal stat¬
utes prohibiting the abandonment by engineers of their
engines in furtherance of strikes except at the regular
schedule destination; the obstruction of a road or the
injury of any property; the interference with any em¬
ployee while performing his duties or being on the com
pany’s premises; refusing by any employee, in further¬
ance of the objects of a strike, to aid in running cars
belonging to other corporations. These prohibitions
would not interfere with the right of a railroad em¬
ployee to work or not work, as he chooses, and to cease
work -whenever he is dissatisfied; but they would
restrict his liberty to strike a blow which hurts the pub¬
lic as much as the road, in pursuance of an arrangement
dictated by a feeling of ugliness. And inasmuch as the
evil may break out anywhere, at any time, and usually
seeks inconvenient circumstances for doing so, the recom¬
mendation of the Massachusetts Commissioners may be
profitably considered by other legislatures, as well as by
that to which it was formally addressed.
If it is found almost

192

THE

CHRONICLE

COTTON—FACTS, FIGURES, ETC.
To tie Editor

of The Chronicle

hypothetical quantities for its result, a probable reduc¬
tion of the stock held in Europe October 1, 1876, to the

:

Some of the

phenomena in the commercial world are
susceptible of explanation as are some in the physical
universe. The decline in the price of cotton since
January was unexpected by most men dealing in the
article; was perhaps a surprise in its duration and extent
even
to the fortunates who
anticipated it in some
degree ; and as a commercial phenomenon is worthy of
a

look into its

causes.

extent of

Permit
some

,

,

bales.

Mid. Up I'd
in
New York.

September

187.000

18-82

October

553,000
693,000
908,000
594,000
470,000

14-05

Ports,

Month.

November

December

January
February

c

..

11 22
10 91
11*91

.12 20

444.COO

13*06

455,000

12 89

£,491,COO

Av. 12 04

12'87

It will be noted that at the end of December the

ceipts this
86,000 in

year were 221,000

excess

bales in

at the end of

than all that decrease

February there

was

an

re¬

and only

February, showing

falling off of 135,000 in the last
more

excess,

was

a
two months ; but,
in January, and in

actual increase.

that the southwestern rivers had been

Now,

suppose

navigable a month
usual, and that the receipts bad been 560,000
bales in January and 369,000 in February (the actual
aggregate), would not everybody have said, at least down
to this time, that the reduction was
reasonably near to
the anticipation ? Note, also, that while in
October,
1876, the price was 3 14-100c. less than in October,
1875, the difference bad been lost by tbe end of January.
Prices bad declined lc. in 1S75-6, and had advanced
over 2c. in 1876-7,
arriving at a common level in Febru¬
ary.
The theory of your article of February 3d on
<c
Cotton Supply and Consumption ” rested on several
earlier,

as




it

as

stands after

now

on

American crop 4,500,000
the maximum side.
Call it

our

bales. It
4,600,000,

probable deficit in

a

supply from India and other countries of about
275,000 to 300,000 bales of 400 pounds each ; but they
reduce the deficit to about 220,000 by allowing for old
cotton to be called out from India

by high prices.

The

high prices being uncertain, I think it fair to let that
deficit stand as you assumed it, 250,000.
The reduced average weight of American bales, from
which you made a deficit of 81,000 pounds, is probably
true to even a larger amount.
But it is claimed to be
compensated by the better grade and cleanliness of this
crop.
On the deficit side there is this year a loss by the
poorer staple in some 2,000,000 bales.
Taking all these
facts together I think it fair to cut your deficit by 50,000.
Not knowing much about consumption, and seeing it
denied that there is any such important substitution of
cotton for pipe clay, salts, &c., in English goods, as
you
assume, I reduce your increase of consumption by
100,000.
These

changes, amounting to 250,000 bales, would
draft on the October stock to 625,000 bales.
disregard that variable and indefinite item,
invisible stock” (or stock held by spinners), and deal
only with the stocks in ports, which were :

reduce your
It is best to
“

Bales.

October 1, 1876

1,168,COO
625,COO

Draw this down, October 1, 1877, by
And then you

will have in the European ports only

548,000

A stock small

enough for the comfortable contempla¬
spinners, in view of their increasing and more
profitable business, however good may be the prospect
of growing crops.
Have you observed the profitable
change in the relative prices of cotton and of yarns and
cloth since July ?
*
tion of

In

July last, middling upland cotton at Liverpool
February, 1877, it was

5%d.
6%d.

was

In the first week of

in

222,000
586,000
831,000
923,000

Av. 13*40

352,000

quantities conform

the

Advance

New York.

bales.

13*2*2
13 09
12 93

,

Mid.Upl'd

Ports,

13*49

3,405.000

March

1876-7.

Received at

of those

and the correction 100,000.
I see that Ellison & Co. make

3761
1875-6.

,

Received at

some

four weeks.

is best to be

was

-

make

me to

You assumed

At the end of December this American cotton crop

r

875,000 bales.

nearly to current opinion,

more

*

generally estimated at 4,200,00Q@4,400,000 bales.
The very light receipts in January tended to reduce
rather than increase those estimates, and 4,350,000 was
regarded as a prudent figure. But when in February
we saw, not smaller
receipts than in January, as usual,
but the unprecedented fact that they were considerably
larger than in the preceding four weeks, doubts if the
largest estimates were high enough began to rule; all
but maximum figures were rejected.
It will be recol¬
lected that last year the crop was estimated by the
Agricultural Bureau, as late as January, not to exceed
4,100,000 bales. The success of the Bureau in the pre¬
vious year won for its estimate last year general cre¬
dence, especially in Europe. That crop turned out
4,669,000 bales. No wonder then that the great receipts
in this February suggested the query%hy may not the
ruling estimate, 4,350,000 in 1876—*7, be short of the
actual by 500,000 bales, as was the accepted estimate in
lSYS-^, and this crop proveto be 4,800,000 bales or
more after all ?
If such was to be the result, then the
prices predicated upon the ruling estimates were too
high. Liverpool and Manchester became depressed, and
other markets followed.
All this is easy to see after
the event.
Just here the following comparative figures,
prepared by a friend, are both interesting and explana¬
tory. They conform to the receipts of cotton as reported
in The Chronicle for each month of four weeks,
except
December and March, in which months five weeks ter¬
minate in both seasons. The average price of Middling
Upland in New York for each month is set against the
month’s receipts :

[March 3, U77,

In

In

%d.

July, No. 32

cop yarn at

February

Manchester

was

8d.

„

10J£d.

-

Advance

2J£d.
July, S& S> shirtings at Manchester were per piece... 6s. l#d. (g) 7s. 7)s'd.
In February they were
7s. 3d.
@ 9s. l*4d.
—an advance of Is. 3^d. per piece, cr lJed.
per pound.
In

Unless

English spinners were running at an absolute
July, they went under large contracts in January
at very rich profits.
The following table groups together some statistics
which may aid to solve the problem, (complicated with
other facts as all commercial problems are, so often
noted,) that a series of years profitable and with advanc¬
ing prices often precedes and follows other series of
unprofitable years attended by falling prices:
loss in

Year.

Import of cot¬ Deliveries for Export of cot¬ Stock of cot¬
ton cloth and
ton to all Eu¬

all

rope

Bales.

I860
1868
1869
1670
1871

1874
1375.
1876

consumption,

Europe.

Bales.

yarn

Up Id,
rop'n poi'ts Liverpool,
Oct. 1.

from

G't Britain.

Oct. 1.

Pounds.

4,76S,000

4,321,000

4,791,000

4,855,000
4,591,000

740,113.000
723,166,000
701,713 000

4,42-1,000
5,569,000

791,860,00!)
873,000 000

4,565, (.00
4,413,COO
6,017,000
5,488,000
5,254,000
5,615,000
5,525,01 0
5,521,000

5,418,000
5,302,000
5,612,000

6,661,(00
5,058,000

Price of
M id

ton in Eu-

Pence.

W
m
12X

680 000

.100,000
780.000

773,0)0

910,760 0~0

1,235.000
1,274000
1,194,0 0
1,16?, 000

;

9 7-16

>

1,502,000

003,9i0.t00

8%
,

946,592,000
959,490.000
967,150,000

.

8 15-16 '
7 15-16

'

<>X
5 15-16

All of these figures are from Ellison & Co., except
the stocks In ports Oct. 1

To make

an

accurate

comparison of the import and

March 3,

1877.]

THE CHRONICLE

193

Railroad and miscellaneous securities were
consumption of cotton it requires that the quantities be
generally depressed
from the causes above referred to.
In speculative transactions
given in pounds, as the weights vary with greater or
the profits were all on the side of those
less proportion of American bales, increasing as these
selling “ short,” as the
decline in most of the active stocks was considerable.
are
It will be noted that during the last
more.
The following table will show the
opening, highest, lowest
three years of unsatisfactory business and falling and
closing prices of railway and miscellaneous stocks at the
prices of cotton and its fabrics, the supply of raw cotton New York Stock Exchange during the months of January and
has been kept good only by greater proportions of February :
RANGE
STOCKS
American; that the British export of goods has been
JANUARY
FEBRUARY.
generally increasing in weight, and that for the three
—January.-February.—
Railroad Stocks. Open. Uigh. Low\ ClOB. Open.
High. Low. Clos.
years the price of cotton has fallen about Id. per pound
86
Albany & Susquehanna. 83
65
85
65
85
60
71
26
37%
21%
10
26%
yearly. • Now, it is said, the accumulated stocks of cot¬ Central of New Jersey.. ,£7% 102
27%
10%
Chicago & Alton
104
99%
95
99% 101% 102
65*4
ton goods in Eastern markets have
do
disappeared as they Chicago Burl. & pref... 110 110% 109 110% 112 112 105% 105%
Quincy 116% 118% 116% 118% 117% 117% 109
110
have in our country.
We see that after a series of un¬ Chicago Mil. & St. Paul. 10*4 21
18
17%
18%
16%
18%
16%
do
do
48
pref. 52%
54*4
46%
48%
49%
46%
47%
&
profitable } ears and falling prices of cotton and goods, Chicagodo Northwest... 36% 37% 34% 35% 35
35
30%
34%
pref. 56%
58%
55%
56%
55%
56%
48*/s
53%
we have apparently entered
upon a series of profitable Chicago & Rock Island. 99% 102% 99% 101% 101% 102% 97% 101%
Cleve. Col. Cm & Ind...
39
39
33
33
21
33%
33%
26%
years for manufacturers, with bare markets for their p re¬ Cleve & Pittsburg, guar. 90% 93
93
93
89%
92%
87%
89%
OF

546438.217

AND

>

Columb. Chic. & Ind. C.
Del. Lack. & Western...

ductions.
There is also apparent assurance

of peace in Eastern
Europe for the next twelve months; and the Presiden¬
tial question is settled, taking its burden off from home
business; there is nothing in sight to hinder the flow of
prosperity which is now fairly indicated. We wait to
see what will be the course of prices.
S.
FINANCIAL REVIEW OF FEBRUARY.
The

controlling influences of last month were the harassing
uncertainty attending the Presidential count at Washington, the
low range in gold, and the continued depression in speculative
stocks. The latter was aggravated by the appointment of a re¬
ceiver for the Central Railroad of New Jersey, by the unfavorable
outlook for the other coal roads, and by the various prejudicial
rumors and statements circulated by the bear party for the
pur¬
pose of depressing prices.
The money market was extremely easy in the last half of the
month, and all the symptoms were shown of a growing accumu¬
lation of funds similar to that of 1876, which, in the summer of
that year, reduced the rates on call to a merely nominal price.
Government securities met with only a moderate demand, and
prices fell off considerably in sympathy with gold, and the old 6
per cent, bonds in consequence of the syndicate operations in
selling 4# per cents.
CLOSING PRICES OP GOVERNMENT SECURITIES IN

Feb.

-

IN

1
2.
3.

^-6s, l88tr->
reg.

coup.

1U% 113)*

/

FEBRUARY, 1877.
5-208, Coupon
,,—10-40s—, ,—38, 1831-% 4)48, 6s,
1865. ’65 n. 1867. 1868. reg. coup. reg. coup. ’91 reg. cur
....

112%

22

....

....

116%
114>4 111
116% 111% 1H% 111%
116% 111% 114% 110%
116% 111
Ill
110%
....

....

..

.

Hl% ....123%
111% 107%
110%
123%
110%

....

....

Ill

..

110%

112% 116% 110%
110% 110%
110% 114% 110% 110%
112%
112%
110%
110% 110%
112%
no%
110%
112%
110%
110% 110%
110%
....

....

112% 113
113

111% 112%

....

...

....

109% 112%
1139% 112%
108% 111%

....
....

....

Holiday

112

112%

....

....

110%
110% 110% 106% 123%
110% 114% 11034 110%
123%
109% 113% 109% 109% 106% 122%
....

....

....

_

...

108% 111% 114% 109%
108*%
108% 111%
109% 112%
110% 113*4
108% 111%
103% 111%

109*4 109% 106%
113*4 109% 109% 105%
113%
109%
113% 110% 110% 103%
114% 111*4 111% 107%
113% 109% 109% 105%
113% 109% 109% 105%
..

114*4 109%
109%
115% 110%
116% 111%
114*4 109%
114% 109%
....

Consols U.S.
for
| 5-20, 10-40 New
fives.
money.'1367.

Thursday.. 1
Friday
2

110% 107%! Monday
19
110% 107%! Tuesday.. .20
11-16.110
110% 107% i Wedneeday21
Thursday.. 22
11-16 110
|110% 107% Friday
.23
9-16 dl0% 110% 107% Saturday ..24
11-16110% 110% 107% Sunday.... 25
11-16 109% 110% 107% Monday.. .26
31-16 109% 110% 107% Tuesday.. .27
15-16 109% 110% 107% Wednesday28
15-16110

Saturday.. 3

Sunday...
Monday
Tuesday

4
5 ^5
6 95
Wednesday 7 95
Thursday.. 8 J95
...

..

95

95

95
Tuesday.. .13 95
Wednesday 14 95
Thursday.. 15 95
Friday ....16 95




65%

50%
2%
53*4
45)4

2%
57%
50%
92*4

90

140

137%
%

%

„

•

7
17

16
13
26
141

5%
10%

3%

1%
126

101%

100)4

111

109
3
14

•

r

109
3
do
pref 16
St. L. Iron Mt. & Soutn. 13
St. Louis Kans. C. & N.
4%
do
do
pref. 25
63

3
16

13

.

2%
54%
47%
90
140

%

•

•

111
O
a

14

12%
5
25
68

65*4
7%

59%

94

94

94

24%
15%

25%
17%

23%
15%

46
71

38

46
73
38

46
71
31

10

11%

7

.94

6

64%
6%

7%
17

11%
22%
137%

20
135

135

14>%

135

53%

2%
63*4
46

9

26%
140%

135
52

51

2

54%
47%

55*4
47%
90%
137%

90

137%
Vi
102%

81%

135%

%

%

91%

94%

50
153
7

50
151

5%

8

3%

8

2%
122

101%

109
3
15

2%
125

99

92

101%

50

152%

5%

9%
126

92
96

109%
3
15

•

•

•

•

„

2%
15
11

4)4

4%

•

•

•

92
99

15
11

4%
•

•

•

68

64%
8%

99%

2%

11%

11%
4%
•

42%

%

3
122

•

50

47%
40%
79
134

102%

152%
6%
9%

•

•

2

92

-

11%
4%

5

7%
11
2
128
101

24
68

receipts

13

12%
26
135
52

51

25
68

60%
Wabash

18

152

13
128

•

46

9%
18%

9%

50

101%
•

46

102%

‘

spec, guar

46

9%

151

152%
7%

123
do

2%
60%

100%

104%

10%
3%

pref..

12%
26
136

70%

•

•

•

65

64

6%

90

«%

30

87%

87%

24%

25

15%

26%
21%

24%
15%

25

16
46

75%
34%
11%

75%

77

62%

66%

33

33

31

33

10%

10%

10%

8%

Miscellaneous.

Maryland Coal.
do

221
8

prf.

do

221

22J

8%

14
21

16
22
105
58

101%
56 >4

54%

14
21

104

60*4

61

74)4

56%

28

28

28

Union Trust.

•

....

•

•

•

•

84%

28
•

•

,,,,

•

•

•

•

10%
200

4%
4%
14

20%
102

6%
7
14
21
102

57%

58%

48

50
S3
49

82%
45
,

•m*

132

132

19%

,

200

164%
60%
52)4
84*
62%

51

71%

#

•

7
16
23

5%

57%

Canton

•

5%

4%

57%

•

215

16
23
104

50
84

Del. & Hud. Canal..

.

215

49
64

89
-

5%
6
16

21%

'

100%
56*4

59%

89

320

5%
5%

8%

8%

pref.

9%

•

•

.

132

•

•

132

In

gold and foreign exchange there was scarcely any animation,
were near a minimum.
Gold went down to 104#, and
even at this figure parties were
found who were willing to sell
short in the expectation of a further .decline.
The course of
trade movements and the small demand for coin, together with
the message of President Grant proposing measures for a return
to specie payments, were the main influences affecting the gold
premium.
and

prices

...

...

15-16
11-1H
11-16
11-16
13-16

95 13-16

109% 110% 103%
109% 110% 107%
103% x08% 10?%
109% 10a% 107%
109% 108% 1107%

109% 106%10r%

95
96
Lowest
95
96
Closing
High. T Since 96
Low., f Jan. 1 94

(Opening.
.Highest

COURSE

122%

OF

GOLj^ IN FEBRUARY, 1877.

122%

IN

123%
123%
122%
122%

FEBRUARY

Consols U.S.
for
5-20, 10-10 New
fives.
money. 1867.

Date.

11-16 110

....

Sunday.... 18

15%
30
141

Morris & Essex
92
New Jersey
137*4
New Jersey Southern....
%
N. Y. Cent. & Hud. Riv. 100%
New York Elevated
N. Y. N. Haven & Hart. 152
Ohio & Mississippi
5%
do

16

2%
69%

52

9%

16

2 >4

69%

....

GL08ING PRICES OF CONSOLS AND U. 8. SECURITIES AT LONDON

Saturday ..17

....

52

10%

3

S.......

103%
112%
111% 111 % 107%
113% 108%
114% 10’%
Lowest..111% 111% 107%
Closing.111% 111% 107%

Friday.... 9
Saturday ..10
Sunday ...ll
Monday.... 12

....

112% 108% 108% 112% 114% 109% 113% 109% 109)4 106
122%
103% 109
111%
109%
109% 109*4 105% 122%

26!'.'.;”!iii%'

Date.

107% 123%
107% 123%
1G7%
....123%
123%
105%

55

.

45*4

...

...

.8...

113%

111%
112%
..; 103*4 109%
112% 113% 10»% 109%
112%.113% 108)4 109%
112% 113%

112

Michigan Central

S..

....

113

55

....

113% 114%
110% 113*4
113*4 1*4%
110% 115%
112% 114
108% 110% 112%
8.. ....113% H4%
110% 112
9
113
114%
113% 114
113%

77

2%
67%

Erie
9%
do pref
16
Hannibal & St. Joseph.,
13%
do
do
pref. 27
Harlem
136
do
pref
Illinois Central
62*4
Kansas Pacific
2%
Luke Shore & Mich. So.
55%

109% 112% ...,xllO% 114% llu% U0% 106%
109% 112% 115%
113% 110% 110% 107
123%
110% 113%
113% 110% 110%

-..

3%

73*4

Dubuque & Sioux Ci;y..

....

,113

3%

....

13-16 109% 103% 107%
13-16 103* 108% 107%
13-16 109% 1(8% 07%
•

15-16
3-16
1-16

1<9% 103% 107%
109% 108% 107%
109% 108% 107%

3-16
5-16
5-16

109% 108*4 107%
K'9% 108% 107%
109% 106% 10'*/*

15-16 110
110% 107%
5-16 no% 110% 107%
9-16 109% ;os% 107%

5-16
5-16
3-16

109% 108% 107)4
110% •10% 107%
108*4 108% 106%

Openig.

Date.

Thursday

1
2
3
4
5
I

Friday
Saturday
Sunday. .....
Monday ... ..
Tuesday
Wednesday... 7

Thursday
Friday

Saturday
Sunday
Monday
Tuesday
Wednesday..
Thursday
Friday
Saturday
Sunday
Monday
Tuesday

8
9

10
11

UC

o

t£
o
i

|

Highest. Closing.

•4

Date.
-

i

105% 101% 105% 105
24
jSatuiday
105% 105
105% 105% 'Sunday
25
105% 103*4 105% 105% j Monday
20
(Tuesday
27
103% 103*4 1 5% 105% !Weduesday...2S
105% 1U5% 166% 1(5% 1
105% 105% 105% 105% Feb., 1877
1876
105% 105% 105% 105%
ii
1875
105% 105% 105% 105%
1874
105% 105% 105
105%
u
.

,

.

12 1 5%

•

•

•

«

.

•

•

•

•

•

...

U

0

i05%

m

...

,

105% 1J5*4

13 105*4 105% 105% 105%

.14 105%
15 105%
16 105%
17 105%
.18
19 i05%
20 105*4
Wednesday... 21 105%
22
Thursday
Friday
23 104%

105)4 105%
105% 105%
105% 105%
105% 105%

105%
105%
105%

105%

105% i05% 105%
1C5% 105% 105)',
104% 105% 104%
Hoii day.
104% !05% 105

u
u

It
4 i

(1

..

44
44
44
44
44

it

Openig.

i

1

Lowest. Highest.

o

5

104% 105% 105
....

.

•

000

+

104% 104% 105% 105
104% 101% 115
04%
104% 104% 1C4% 104%
105% 104%
112%
113% 113%
111% 111%
11% 112%
109% 109%
111*4 110%
121% 115%
136% 130%

106% 104%
114% 114%
115% 114%
113
112%
1873
115% 114%
111
1872
no%
1871
112* 110%
1870
121)4 115%
186*9...
136% 131%
1868..
140% 139% 144 141%
1867
135% 185% 140% 139%
1866
140)4 135% 140% 136
1865
201% 196%
20.%
1884
157% 157% 161
159%
1863
157)4 152)4 172% 172
1862
103% 102% 104% 102%
Jan. 1. ’77. 1G7* 104* 1*7V 10*%
....

It

|

105

fci
a

’So

113

THE

19 A
8TBRLING EXCHANGE FOR

4

85%@4.86%
4.85%@4.86)$
4.85%@4.86*4

“

“

“

“
“

“
“

«
“
“
“
“

-

“
4‘

4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.

.S.

4.84%@4.85

4.84*%@4.85
4.84)$@4.85
4.84j$@4.35
4.84%@4.85
4 81

1.84
4.84
4.84

@4-845-2

@4.85

4.81
4.84

@4.85

4.84
4.84
4.84

4.84

26. .4.82%@4.83'4
27. .4.82%@4 Si*
28. 4.82% @4.3:33$

Range .A. 82% @4.85

@ 4.8634

@4.85

THE DEBT STATEMENT FOR FEBRUARY, 1877.
following1 is tlie official statement of the public debt as
appears from the books and Treasurer’s returns at the close of
business on the last day of February, 1877:

Central Pacific
Kansas Pacific
Union Pacific
Central Branch, Union
Western Pacific
Sioux City and Pacific

1S74
1.880
1-81
1881
1881
1904
1885
18^5
1887
1883
1881
1891
1901

Act.

June 14,
Feb.
8,
March 2,

5s of 1858
6s of 1S81.

’58
’61
’61
July&A.,’61
March 3, ’63
March 3, ’64

6s, Oregon War

Oe of 1881
6s of 1881

5s,
6s,
6s,
6s,
6s,

When Pay ble

Auth’rizing

Character of Issue.

10-40’s
5-20s of
5-208 of
5-208 of
5-208 of

1865
1865, new.
1867
1868
5s, Funded Loan, 1881
4348,
do. 1891
4s,
do.
190:

March
March
March
March

3, ’65

3, ’65
3, ’65
3, ’65

July 14, ’70
July 14, ’70
July 14. ’70

J. & J.
J. & J.
J. & J.
J. & J.
J. & J.
M.&S.*
M. & N.
J. & J.
J. & J.
J. & J.

Registered.

a

#260,000

b

13,807,000

The Pacific Railroad bonds are all issued under the acts of July 1,1862, and
July 2, 1864; they are registered bonds in the denominations of $1,000, $5,000
and #10,000; bear G per cent interest in currency, payable January 1 and July 1,
and mature 30 years from their date.

RACKS OF

Q.—F.
<i—M.

$
4,603.000
945,000

c

d
d
d
d
d
d
d
d
.

.

126,158,000
53,754,4(0
141,3.90,900
19,075,750
61,943,450
97,035,53C
15,479.000

225,963.350
38,619,500

63,163,851
21,245,600
52,575,400
81,360.300
137.719.6.50

213,587,-.'00
21,991,800
2 2.03",800
11,350,500

•

$797,116,900

$900,580,600

denominations of each issue of bonds are as follows: (a) Coupon
$1,000, registered $5,030. (b) coupon $1,000, registered $1,000, $5,000, $10,000.
<c) $50, $100 and $500. (d) coupon, $50. $100, $500 and $1,000, registered, same
and also $5,000 and $10,000.
*
Coupons of $50 and $100 bonds are paid annually in March.
On the above issues of bonds, there is a total of $8,777,067 of interest over-due
and not yet called for. The total current accrued interest to date is $17,940,234
or

Debt

!

EXCHANGE AT LONDON—
FEB. 17.

j EXCHANGE ON LONDON.
!
| TIME.
i

3s, Navy pension, Act July 23,’68, Int. appl’d only to
Debt

on

pens’ns'$14,000,00ol

total amount of over-due debt yet

outstanding, which has never
Deen presented for payment, of $8,629.8-10 principal and $158,413 interest.
Of
this amount, $7,826,550 is on the “called” five-twenties.
There is

a

Debt

Authorizing
Acts.

Old demand notes....

Legal-tender notes...
Certificates of

-j

-j

deposit..

Issues.

’62
July 11, ’62
Mar.
3, ’63
June

$65,367
Prior to 1869.

$24,228,494
Series of 1869 197,010,635
Series of 1374
54,114,090
Series of 1875
88,836,265

June 30, ’64 I

•Coin certificates

Mar.

364,239,484

34,415,000

July 17, ’62 I Second
Mar.
3, ’63 { Third...
Fourth.
Fifth...

4,*: 94,019
3,116,655

3,047,916
5,623,413

8,352,415

24,434,420
52.146,700

3, ’63..

Aggregate of debt bearing no interest

|

Unclaimed interest

$475,330,971
8,707

Recapitulation.
Amount

Outstanding.
Debt bearing Interest
Bonds at 6 per cent
Bonds at 5 per cent
Bonds at 43$" per cent
Bonds at 4 per cent

in

$934,877,030
712.820,450
50,000,000

Navy pension fund at 3 per cent

Debt

on which

Int.

has ceased since

Maturity.

Debt bearing no Interest—
Old demand and legal tender notes
Certificates of deposit.
Fractional
currency
Certificates of gold deposited

not

$1,697,697,500

$25,717,331

14,000,000
8,620,860

70,000
158,418

$364,304,851
34,445,000

24,434,450
52,146,700

Total debt bearing no interest.
Unclaimed interest
Total
Total debt,

$475,320,971
8,707

$2,195,658,332
principal and interest, to date, including interest due
presented for payment

Amount
Coin

in the

.

$26,9 4,456
2,222,612,788

Treasury—

Currency....
Special deposit held for redemption of certificates of deposit
as provided bylaw
Total.

Debt, less amount in the Treasury, March 1, 1877.
Debt, less amount in the Treasury, Feb. 1, 1877..
Decrease of debt during the past month.

Decrease of debt since June 30, 1876.




Interest.

Coin—

Total debt bearing interest in coin
Debt bearing Interest in Lawful Money—

...

u

Paris
Paris
Vienna
Berlin
Frankfort
St. Petersburg
Cadiz
....

Lisbon

....

Milan
Genoa
Naples
Madrid
New York
Rio de Janeiro
Bahia
Buenos Ayres..

short.
3 months. 25.30
44
129.0
4*
20.59
44
20.59
<4
29
44

90
3

days.
mos.
44

short.

12.2% @12.3%
25.32% @25.37*4’
20.59 @20.63
25.12,3$ @25.22%

•

•

44

Is.

44

5s.
4s.

..

Alexandria....

.

•

i

....

•

•

3 mos.
short.

90.263,771
9,122,874
31,415,000
$133,831,645
2,038,781,143
2,000,851,572
$2,070,429

10,658,201

12.37
20.46
20.46

3

29%

mos.

•

•

.

short.

•

•

....

•

.

Feb. 13.
Feb. 16.
Jan. 8.

3
60
90

90

days.

IS.
15.
14.
14.

6

•

•

•

mos.

Jan. 15.
Jan. 21.

•

.

.

27.10
•

•

48

days.
days.

4.84%
24%

••

Is. 9 13-1
Is. 9 13-1 €@%d

44

•

•

i

days.

.

....

i

44

Hong Kong...

•

....

30

Bombay
Calcutta

•

•

Feb. 13.

40^ @47%

••

•

*

44

....

Pernambuco..
Montevideo...

•

•

27.57 %@27.62%

(4

12.03
25 18
20.37
25.16

.

•

@25.37%

<4

Valparaiso

•

•

@12.65
@20.63
@20.63
@29 %
48% @48%
52 @52%
27.57*4 @27.62%
27.57% @27.62%

t

.

♦

....

2d.@4s. 2% <2
7</.@5s. 7Xd
2cf.@4s. 2%c2

Feb.
Feb.
Feb.
Feb.

25

(1

.

.

Feb.

mos.

7.

44%
1-16@25%

Is. 9
Is. 9
4s. 3c?.
5s. 9d.

1-16 i.
3-164.
per dol.
per tael.

..

3 mos.

96%

LFrom our own correspondent.1

London. Saturday, Feb. 10, 1877.

market is somewhat firmer in tone, but there is no
animation, and the directors of the Bank of England have made
no change in their rates of discount.
The minimum quotation for
The money

Gold continues in
has not been, during

the present week, so active as it was during the preceding week.
The withdrawals from the Bank, this week, have been under half

sterling; but those of the previous week were nearly
The imports this week have also been small, so that
the falling off in the export inquiry is considerable.
The supply
of floating capital is still diminishing, partly from the withdrawals
of gold, and partly from the revenue payments.
The former,
however, have a permanent influence upon the money market, as
the gold sent away cannot, under present circumstances, return,
nor can
the low rates current for money in the London market
possess any attractive power, and bring supplies of capital from
other quarters.
The contraction of the quantity of loanable
capital by the revenue payments can only be regarded as tern,
The money thus locked up at the Bank will be with¬
porary.
drawn from employment until the dividends are paid, or until the
Bank is called upon to lend it to meet the wants of the community.
Trade, however, remains so quiet, and financial enterprise is at
so low an ebb, that it is not likely that the April dividends will»
in any way, be anticipated.
The money, however, in case of ne¬
cessity, is at the Bank of England, and this fact is calculated to
check the tendency for money to improve in value. Although,
therefore, there are indications of an improving money market,
yet there is reason to believe that the time for inaugurating a
change is not yet quite due. The directors of the Bank of Eng¬
land are not likely to hasten a change, which might be prejudicial
to their interests.
The amount of business they are transacting
with a two per cent, rate of discount is small, as the open market
is working at from If to If per cent for short-dated and threemonths’ bills. The directors of the Bank are evidently of opinion,
therefDre, that were they to augment their terms, they would be
doing still less, and that thus no advantage would accrue. It has
not yet become necessary, or imperative, to “ protect ” the supply
of bullion.
It is true, indeed, that the supply, which, on the
20th of September last, was rather more than £35,000,000, is now
£26.377,000, but that reduction of nearly £8,623,000 is a matter of
small concern, as the former amount wag excessive, while present
a

million

one

8, ’72.
First...

Fractional currency..

Total.

Amount.

July 17, ’61 )
Feb. 12, ’62 f
Feb. 25,

It

money remains, therefore, at 2 per cent.
moderate demand for export, lut the inquiry

Bearing: no Interest.

Character of Issue.

Amsterdam... 3 mouths.

Antwerp
Hamburg

$70,000

Which Interest Has Ceased Since Maturity.

RATE.

DATE.

!

Singapore..

Principal.. Interest

LATEST

RATE.

TIME.

ON—

Shanghai

Bearing: Interest in Lawful Money.

j

(Snglial) Nema

£V€illN6G AT LONDON A NO ON LONDON
AT LATEST DATES.

1

bearing interest in coin
The sizes

Coupon.

by U. S.

$64,623,512 $34,018,923 $7,001,553 $27,014,370

Total

Outstanding.

Size.

Balance of
Int. paid

$25,885,120 $13,357,358 $1,218,672 $12,088,686
2,155,404
3,b7!,163
1,515,758
6,303,000
10,208,733
27,236,512
14,335,610 4,126,877
925,808
881,400
44,406
1,600,000
Pacific..
890,363
1,370,560
899,730
9,367
789,782
39,470
1,628,320
829,252

#

Bonds

repaid by
tr’usp’t’n.

Outstand’g. United St’s

bearing: interest in Coin.
Interest
Periods.

Interest

paid by

Cateat fllonetaru anil (Hommerctal

The

Debt

Interest
Amount

Character of Issue.

@4.85
@4.85

S.

25

4.8534@4.S6
4 85)$@4.86
4.85 3* @4.86

@4.8434

@4.853$
4.84*4 @4.853$
4.81 @4.85

Companies, Interest

Payable in Lawful Money.

«

4.8.

.

4.85 34@4.86

@4.8434
@4.8454

Bonds Issued to the Pacific Railroad

days.
4.85J$@4.86
4.b53$@4.S6
3

.

4.85%@4.S6j$
4.8>%@4.86}4
4.85%@4.86)$
4.85)$@4.86%
4.85%@4.S6!$
4.85% @4.86*4

4.84%@4.83

1877.

FEBRUARY,

60 days.
Feb. 16. .4.84 @4 8434
17. .4.84 @4.843$’
18.
19. .4.83%©4.8t
20. 4.83%@4.84
21. .4.S2%@4.83*4
22.
23. .4.82% @4.833$
24. 4.32% @4.83 *4

3 days.

days.
Feb. 1. 4.84%@4.85
2. ,4.S4%@4.85
3. 4.8l%@4.85
60

[Much. 3, 1677.

CHRONICLE.

million.

March

195

THE CHR0N1CLR

3, 1817.]

The Board of Trade returns for January have been issued this
experience shows that the stock now held is fully adequate to our
wants. The proportion of reserve to liabilities at the Bank is week, and they show the following results:
1875.
1876.
1877.
till at the satisfactory point of 46 per cent; trade and financial Imports
....£32,375,675
£30,673,747
£3?,899,860

low ebb, and
it may, therefore, be safely admitted that the directors of the
Bank are judicious in postponing a change, which, though con¬
enterprise are, as we have previously observed, at a

16,986,760
16,854,572
15,916,080
only refer to British and Irish produce and
manufactures, the re-exports of colonial and foreign merchan¬
dise not being.included.
The bullion movement during the

Exports

sidered to be approaching, cannot yet be regarded as necessary.
further be observed that these are times of rapid com¬
munications, and that on previous occasions, when the withdrawals

It may

The above exports

month has been

as

follows:
IMPORTS.

1876.

1877.

£1,179.800
637,513

£613,972
1,746,280

1875.

£2,241,088

Gold
Silver

gold created some excitement, successive advances in the Bank
soon made their influence felt, and brought
about the
£2,360,25$
£1,817,313
Total
£3,475,697
EXPORTS.
desired change.
Should a demand for gold again arise on an
£3,470,073
£1,461,742
Gold
£1,283,003
extensive scale in the only market in which it can be purchased Silver...
1,459,655
6-9,034
770,045
immediately and in any large quantity, and diminish rapidly our
£4 929,72S
£2,100,776
£2,053,043
Total
available supply, there is no reason to doubt that the same meas¬
Assuming the above figures to be correct, we have lost during
ures which have proved to be so effectual on previous occasions,
the month about £2,500,000—an amount not very considerable,
will be adopted, and with a like effect.
But at the present when it is borne in mind the supplies of unemployed money in
moment there are no indications of any change so violent, but
England were almost unprecedentedly large. Now, however
only of a.emall rise, say of i or 1 per cent, and weeks may elapse that the position of the Bank is less strong, the bullion move¬
before even so small an alteration can be regarded as necessary.
ments will attract more attention, as, with a tendency for busi¬
The rates for money have somewhat improved during the week,
ness to improve, and with a diminished supply of unemployed
and are now as follows :
Ber cent.
Percent. capital in the London market, the discount market would feel
Open-market rates:
4 months’bank bills
2
1%<£2
Bark rate
more
speedily the effect of an improved demand for money,
6 months’ bank bills
Opt n-market rates:
should it arise.
The following statement shows the extent ot
4 and 6 months’ trade bills. 2 @3
30 and 60 days’bills
3 months’bills
1%@1%
our exports of cotton piece goods during the past month :
Some of the discount houses have raised their rates of interest
COTTON PIECE GOODS OP ALL KINDS.
1877.
1875.
1876.
for deposits, and are offering one per cent.
The quotations now To Germany
5.657.500
Yards 5,644,200
5,622,900
of

rate

rule

under:

as

Per cent.

Joint-stock banks
Discount houses at call
Discount houses with 7 days’notice
Discount houses withl4 days’ notice

The

nil@l
(S> 1

*

@,1
©1

following are the rates of discount at the leading cities

abroad:
Bank

Bank Open
rate, market,
Paris....

Amsterdam

Hamburg...

Brussels

2
3

Turin, Florence

2%
4
8

Genoa
Geneva
New York
Calcutta

6

5

Copenhagen..

Madrid, Cadiz and Bar¬
celona
Lisbon and Oporto...
St. Petersburg

and
4

Leipzig

6

Viennaand Trieste..,.

2

4%

%

2%

Rome

2%

4
4

Berlin

market

2%

....

4

. „

Frankfort

rate.

per cent, per cent

percent.

per cent,
3
3

Open

4

5

....

2%
m

..

•

•

,

....

•

5

5

....

8

6

the Bank of
England on Wednesday.' The amount offered was reduced tc>
£175,000, but only £30,381 was disposed of, of which £37,381 was
The weekly

on

Calcutta.

sale of bill3 on Iudia was held at

The rate obtained

week, viz.: Is. lOd. the rupee.
limited demand for the

the

was

same as

in the preceding

The silver market, owing to the
of remittance to the East, has been

means

57d. per ounce. The

dull, and tlie prico of fine bars is now about
quotations for bullion are as under:
Bar Gold
Bar Gold, refmable

standard.
standard.

per oz.
peroz.

....

Spanish Doubloons

nominal,

...

South American Doubloons
United States Gold Coin
German Gold Coin

peroz.
per oz.
per oz.
peroz.

per oz.,
per oz.,

Gold

...per oz.,

Spanish Dollars (Carolus)
Five Franc Pieces

77

11)4ft

76
73

76
76

0
9
3

standard.
standard.

last price.
per oz.

57

57%
57%

0

-h.76

6

....

....
...

In the stock markets, the more

prominent feature has been a
The report of

1S73.

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

£

55.281,094

13,075,0*5
19,597,493
13,2*7,683

22,737,892

1374.
£

25,690.442
6,767,740
l'k 126.040

1876.
£

1877.
£

26.266,742
5,329,529

26,999.279

28,143,461
5,613,338

17.35S.112

1875.
£

6.556.378

13,896,607

13,568,721

18,303,470
13,SS5,914

18,184,363

17,577,602

18,476,634

23,520,174
16

001,441

12,192,618

9,833,0.22

10,743,132

13,562,473

both departments.... 25,0f5,748
Bank-rate
3% p. c.

22,508,478

20,752,957

22,431.397

26,376 9.13

and

bullion

in

Consols

English wheat
Mid. Upland cotton
No.40s, mule twist fair
2d

g

ualitv

3 p. c.

4 p. c.
94 ) a
43s 7d.

52*. 7d.

654d.

6 13-16d.

85%

56s. 2d.

63s. 9d.

9 15-16d.

8d.

93
42s. 7d.
7 ll-10d.

la. Id.

Is. Od.

U%d.

97,942,000 104} 460,000

92,434,000 103,483,000

92%

Is. 3L

Clearing House retuTj* 103,686,000




3*4 P- c.
92%

2 p. c

.

1,357,700
2,924,400

3,067,400
1,574,000

2.758,300

2,073,600
31,733,900
5,220,-00
4,013,600

40,269,600
2,632,000
3,205.300

2.926,200

2,460,103
965,600

8,261,500

2,819,100
1,601.5: 0
3,972,000

2,957,300

2,980,700

1,166,600

1,581,900
37,437,800
*3,791,200
65,369,100.
7,871.500
3 816.300
2,716,800
22,246,^00

1,225,709

..

3,250,600

2,470,000
15,326,400

countries

208,276,800
Total unbleached or bleached
Total printed, dyed, or colored...
80,462,600
Total of mixed materials, cotton pre¬

231,941,700

290.072,700

Total
OTHER

£95,845
£109,351
lbs. 696,119

Thread for sewing
Other manufactures.
Total value of cotton

unenummPed
£73,217
manufactures ....£1,760,974
The extent of our exports to the United

past

187,902
£6,659
3,870

cwt.

Ac

Woolen cloths.
Worsted 6tuSs

1.973.700

3.250.700
2,047,000
4.123.500
40,174,400
2.422.300

2.180.300
3,640,600
2.720,000
2.5C4,S00
4.477.400

2.512.900
1,042,000
37.957.500
4.768.900
66,010,600
9,481,800
4.160.300
3.185.700
19.556.500
243,563,000

756,300

786.700

312,916,600

£126,669

328.981,100

£114,719

£7I,«26

£1,917,406
£4,491,531
Stales during the

...tons.

...

yds.
value.
value.
.value.

gals.

value.

cwt.
lbs.
lbs.

yds.
yds.

1877.

147.667

143,783
£3,955

£3,606
1,857

2,186

37

94

26

10,020,000
£37,130
£62,121

8,378,200
£39,446
£31,433
£34,765

6.764,400
£80,116

1,948

£30,724
£28,742
3,145

269

240
23
100

288
893
354

7,802

6,374

7,213

£56.296
2.637
212

2,376
£12
101
170

Steel, unwrought
tons.
Lead, pig, rolled and sheet
tons.
Linen piece goods
yds. io, 604*, i 66
£14,695
Machinery
value.
801
cwt.
Paper, writing or printing. &c
Other kinds, except paper hangings,

Spirits (British)
Stationery, other than paper
Tin, unwrought
Wool, British
Wool, Colonial and foreign

923.700
13,211,200

subjoined 1875.
statement: 1876.

month is given in the

Silk broad stuffs
Siik li)bons
Other articles of silk only....
Other articles of silk only....

3,169,200

27.949.500
9.666.100
1,386,000
6,764,409
4.795.500
1.418.700

84,631,700

MANUFACTURES OP COTTON.

patent ret

5.807.500
6.214.700
6.642.100
9.587.400
1.297.300

8),353,600

1,^33,303

dominating

17,787,156. Salt, rock and white

15,122,901

coin

Coin

15,902,800

1,964,600
1,873,000

.

*

2,725,100

3,625,000

17,180,600

Philadelphia & Reading Company has been productive of an
Alkali
cwt.
unsettled feeling amongst the bondholders, and prices of nearly
Apparel and slops
value.
*.. bbls.
all stocks have been falling daily.
United States Government Beer and ale
Copper, wrought—
cwt.
bonds, however, have been steady, and have not materially Co:ton piece-goods
..yds.
Earthenware and porcelain
valtie.
changed in value.
Haberdashery, milliner}', &c..
value.
Annexed is a statement showing the present position of the Bank Hardware and cutlery
value.
Iron, pig
tons.
of England, the Bank rate of discount, the price of Consols, Iron, bar, angle, bolt and rod
tons.
tons.
the average quotation for English wheat, the price of Middling Iron, railroau of all sorts
tons.
Iron, hoops, sheets, &c
tons.
Upland cotton, of No. 40’a Mule twist, fair second quality, Iron, tin plates
tons.
and the Bankers’ Clearing House return, compared with the Iron, cast or wrought
Iron, old, for re-manufacture
ton-.
the

1,767,900

3,963,400
71,201,900
6,262,300

Hosiery of all sorts.

further decline in United States railroad bonds.

5,104,300

2,759,800

Straits Settlements
Ceylon
To Australia

Lace and

....

3,671,700

1,322,600
8,878,200

1,569,900
10,020,000

26.8in.100

....

Discount, 3 per cent.

21,705,700
7,7i8,700

Bombay
Madras..
Bengal

...

©

1,178,100
1,846,800

18,165,700
8,127,100

islands

a.

©
©

5,081,300
7,880,600

7,765,200

618,700
2,217,900

Granada).

To other

4,298,600

5,133,800
5,001,500,

To Brazil
To Uruguay
.
To Argentine Republic
;..
To Chili
To Peru
To China and Hong Kong
To .Japan
To Java.
To Philippine
To Gibraltar
To Malta
To British North America
To British West India Islands and
Guiana
To British possessions in South Africa.
To British India—

....

©
®

peroz.

Quicksilver, £3.

....

(5,77
&

d.

SILVER.

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

d.
s. d
77 10 <577 10%
s.

GOLD.

5,484,700
4,892,200

To Holland
To France
®o Portugal, Azores, and Madeira
To Italy
To Austrian territories
To Greece
To Turkey
To Egypt
.
To We?t Coast of Africa
To United States
To Foreign West Indies.
To Mexico
\ ....
To United States of Colombia (New

235
50
169
212

538
.

582
154
59

9,434.600
£25,274
189

9

851,000
£11,245
117

282

365

361

25,206
49,400

28,132
31,950

57.843

£1,672
£14,340
£1.897
6,S10

£5,347
4,741

30,COO
83 ',691
483,600

4,670,(CO

£'*41

£10,(fc0
£2,830
2,985

£5,586
1,733

66,566
£1,466
£7,615
M,943
4,733
£6,015
1.275

315.600

122,409
1.258,979204,100

4,710,800

3,320.500.

23 500

2,190.480

196

THE

The wheat trade, both here and
dull

the

on

CHRONICLE.

[' arch 3, lfc77.

Continent, has been

IMPOSTS.

during the week, and in this country prices have declined

1876-7.

Wheat

Is. to 2s. per quarter.
condition, the weather

1875-6.

1874-5.

1872-4.

27,593,200
17,339,273
20,689,679
English produce is still arriving in poor Barley
4,900,621
7.581.415
4,163,263
Oats
being very mild, with frequent, though Peas
4,680,219
4,106,456
4,070,642
not heavy, falls of rain.
757,574
903,8 5
399,342
Agricultural work is reported to be Beans
1.921.179
1,684.167
1,071,449
2,351,919
Indian Corn
14,710,524
very backward, the land being too sodden to admit of
9,125,424
5,720,196
7,218,906
ploughing, Flour
2,651,151
2,954,769
3,423,647
2,917,199
except on high and well-drained lands, being carried on effect¬
EXPORTS.
ively. A dry spring seems to be very necessary. The crops on
Wheat
96.902
148.555
the Continent are said to be
1,466,127
looking very promising, and French Barley
11,716
151,114
53,081
Oats.... I
merchants have lately been
131,418
52,272
55,223
selling in London Californian produce Peas
12,958
10,574
11,236
7,703
Beans
they had recently acquired. Many persons, however, are of
15,610
4.85?
1,048
1,861
opin¬ Indian Corn
224.079
14.348
32,848
ion that^be crops in
77,033
Europe are much too forward for the time Plonr
17,317
9,515
34,660
82,566
of year, and that, should there be
any severe weather in the
spring, or any cold easterly winds, the prospect would be very
London, Saturday, February 17.
materially altered. Agriculturists apprehend a premature devel¬
The demand for gold for
export during the week has percepti¬
opment of vegetation and serious injury from late frosts.
bly abated, and the directors of the Bank of England have not
The return for the week
ending February 2 shows that in the found it
necessary, therefore, to vary their rates of discount.
150 principal markets of
England and Wales the sales of Euglish Hence the minimum
quotation remains at 2 per cent.. The trade
wheat amounted to 44,840
quarters, against 45,139 quarters last demand for
money has continued on a very moderate scale, and,
year, and in the whole Kingdom it is computed
that they were
consequently, the money market presents an easy appearance,
179,360 quarters, against 180,600 quarters in 1876. Since
harvest, the quotation “out-of-doors ” for choice
three months and shortor since the close of
August, the deliveries in the 150 principal dated
paper being lf@lf per cent.
markets have been 1,117,101
Throughout nearly all
quarters, against 1,068,577 quarters, branches
of our commerce a
and it is estimated that in the whole
very quiet feeling still prevails.
In
Kingdom they have been fact, somewhat of a
tendency tcTdespnndency exists, as the pub¬
4,468,500 quarters, against 4,274,300 quarters in the
corresponding lic are becoming impressed with the idea that war between
...

-

....

period of 1875-6. It is estimated that the
following quantities of
wheat and flour, without
reckoning those furnished ex-granary,
have been placed upon the British markets
since the close of

August last:

«

1876-7.

1875-6.

cwt.

-

Imports of wheat
..16,161,632
Imports of flour
Sales of home-grown produce...
.20,108,009

1873-4.

cwt.

2,974,769

cwt.

17,338,273

27,593,209

20,689,679

3,423,647

2.917,199

Total

wheat and flour

Result
.,

Average price of English wheat..
Annexed is a return

...38,328,351
...

48s. 8d.

19,234,409

25,302,000

22,512,100

49,802,369
105,417

.

Exports of

1874-5.

cwt.

46,063,920
183,215

46,148,978
1,548,693

49,695,952

43,880,705

44.600,255

46s. 4d.

44s. 9d.

62s. Id.

showing the estimated value of the imports
of cereal produce into the United
Kingdom since harvest, viz.,
during the months of September to January, inclusive,
compared
with the
corresponding period in the two preceding seasons :
1874-5.

m

Wheat

1375-6.

£8 663.0*6

1876-7.

£3,12 >.125
2.480,517
2.015,039
283,840
7:7,706

1,877,759

£19,127,579

Barley

£14,178 918
2,015,970
2,041,416
316,320
709,532
3,254.918
2,281,9*5

£24,793,999

£ 20,231,545

-

3,135,961

Oats
Peas
Beans
Indian Corn
Flour

2.391,758

339,681
4S5,&tO

2,184,051

Total

4,41b.680

2,162,6:J8

The decrease this
season, therefore, compared with its
pred¬
ecessor, amounts to £4,567,454, the reduction in the
estimated
value of the wheat imported

being as much as £6,053,750. Last
imports of wheat were unusually large, and
the comparison is not,
consequently, a fair one, as the receipts
during the season were iq excess of our necessities.
Compared
with 1874-5, there has been
very little change either in quantity
or value, and as there were
large stocks of foreign wheat in
granary at the close of last season, the present rate of
importation
Oau only be regarded as
satisfactory, more especially as rather
season,

however,

our

more than two million
quarters of wheat
afloat to the Uuited Kingdom.
The countries whence we derived our

flour

during the first five

are

estimated to be

supplies of wheat and

months

seasons, together with the
were the
following :

of the

present and last two

quantities each country contributed,

IMPORTS OP WHEAT.

From—

1874-5.
cwts. 3,391.654

Russia
United States
British North America

8,328,646
1,333,486

Germany

1,439,392

Prance...

273,239

Chili

Turkey, Moldavia
Egypt

594.004

and Wallachia

402,513
41,061

2,086,268

2,496,097
876,018
602,204
981,381

1,680,221
1.270,390
1,764,199

16,515,287

26,213,693

173,655

Total

IMPORTS OP PLOUR.

Germany

France
United States
British North America
Other countries

.

290,452
621,392

.

The

1876-7.

4,:6i,4C6
5.579,112

487,633

British India
Other countries

Total

1875-6.

5,403,639
9,053,278

97,944
306,279

404,300
669.5G4
1,047,516
187,856
494,445

2,276,810

2,803,821

960,743
.

Turkey is inevitable.

been loud in

Although English politicians have

their denunciations of Turkish misrule and
bar

barity, yet there is, amongst a large section of the community, an
anti-Russian feeling, as the public fail to
comprehend Russia’s
outspoken desire for peace, and the massing of large bodies of
troops on the Turkish frontiers. Russia surely cannot
suppose
that Turkey is to become an
invading power, when she has yet
to prove that she can reinstate herself as
a respectable
power in
Europe. There are some here who believe that Turkey, if now
left to herself, will, in course of
time, re-habilitate herself ; bnt
she must
obviously have time and opportunity allowed her.
Russia, it would seem, permits her neither. Her Government
masses some 200,000 men on the banks of
the Pruth, which
compels Turkey to bring forward every available man, and taxes
Mussulman resources to the utmost. It
may well be asked, “ How
can
Turkey hope to reform her admininistration and the country,
when she is thus threatened, and when
preparations for a deadly
struggle occupy chiefly the attentions of the Government?”
Hitherto the country has been
governed and protected by Mos¬
lems, the Christians having been left out, except so far as the
payment of the taxes is concerned. The whole Moslem popula¬
tion is now engaged, therefore, in
preparing for the threatened
outbreak of hostilities, and
many persons fear that the one is
only waiting for the other to place itself in a wrong position
before Europe, by.giving the fatal command.
Such has been the
gloomy view which a very large section of the British public
have taken of Eastern politics this week,
and, though it is hoped
that circumstances may, before
long, justify a change, yet the
effect, both commercially and financially, has been
depressing,
and all business is restricted to narrow limits.
As long as these
anxious uncertainties exist, we cannot
hope for improved trade.
Now and then there is a brief
start, but it is only brief, and dis¬
appears almost as soon as it is perceived. In fact, there is not the
slightest disposition shown to trade in excess of actual wants,
and this policy of retrenchment
will, no doubt, continue to be
adopted until the present critical period has terminated in one
direction, either in peace or war.
This period of suspense
checks all enterprise, and hence the
country is impatient^ and
wishes for an end to be put to it.
It is well kuown that the British

public have been heavy losers
in many of their investments, not only in those of
631,513
140,266 English origin, but in foreign government loans, such as Turkish,
152,047 Egyptian, Spanish, Peruvian,
Honduras, Costa Rica, and in sev¬
213,794
981,060 eral others, which, though not at present non-dividend paying,
1,763,183 afford a somewhat
gloomy prospect, as there are apprehensions
758,650
of default, the result of which is that the value
of the capital
15,364,635 stock
has, of late, been very considerably reduced.
Possibly,
490,839 however, a more serious calamity awaits the British public, and
953.574

502,857
885.S77

of late years

that is the default of Russia.

For

long time past, in fact, since
of Paris in 1856, Russian stocks have been largely in
favor, and very large amounts are held in this country. The
2,634,320 judicious policy of the Russian Government of
paying the interest
141,312
613,435

following figures show the imports and exports of cereal
produce into and from the United Kingdom since
harvest—viz.,
from the 1st September to the close of last
week—compared with
the corresponding period in the three
previous years:



Rus¬

sia and

a

the peace

on

the external debt

Russia’s credit
amounts

Europe.

on a

during the conflict in the Crimea established
firm basis, and the result has been that
huge

have, without difficulty, been borrowed in Western
The soundness of Russian finance has of late been

!

:

11

March

197

THE CHRONICLE

3, lb77.]

questioned, and there are many who contend that, in spite of accomplished. The securities of the undertaking have, in conse¬
the railroads which, have been built, recent loans have been, with quence, improved in value.
In the market for American securities, a large business has
a view partly to meet pressing obligations.
Until very recently,
her financial system has been as obscure as that of Turkey, Egypt, been transacted during the week, and there has been much in¬
discriminate selling. Nearly all descriptions of stocks have given
Spain or Peru, and perhaps the same bad principle has been
adopted of making fresh loans to pay off accumulated way in price; but the low quotation to which Philadelphia and
debts.
That a war, even with Turkey, will tax vety ser¬ Reading bonds had fallen has attracted attention during the last
iously Russian finance and
Russian resources, no one three days, and a partial recovery has taken place. Not only have
can doubt.
The Government now is evidently anxious to the shares of the companies interested in coal mines been de¬
negotiate a large loan, and one for a limited amount pressed, but companies wholly unconnected with them have
has been
attempted in Berlin, but the London market caught the contagion, and have been thrown recklessly on the
closed to her, notwithstanding the friendly co-operation
which is said to have existed between Lord Salisbury and General
Ignatieff. Were war to break out—were the struggle to be pro¬
tracted—and the payment of interest on the Russian debt to cease^
the losses in this country would be very serious.
The British

seems

public still seem to possess confidence in the good intentions of
the Russian Government and are not free sellers of stock ; but
general belief that, even without war, which it is
needless to say is a very expensive game, Russia cannot get along
without a loan, and it is but natural to believe, therefore, that
war would be attended with serious results to her.
The demand for money throughout the week has been on a
very moderate scale, and the rates are somewhat easier than they
were last week.
Annexed are the quotations.
there is

a very

Per cent.

2

Bank rate

Open market rates:
30 and 60 days’ bills
3 months’ bills

Per cent.
; l%@2

6 months’bank bills

2 @2%

4 and 6 months’trade bills. 2 @3

1%@1%
1%@1%

The rates of interest allowed
count houses

Open market rates :
4 months’ bank bills

by the joint-stock banks and dis¬

for deposits are subjoined :

Private and joint stocn banks
Discount houses at call
Discount houses with 7 days’ notice
Discount houses with 14 days’ notice

Per cent.

a

;

statement

Bank of

1874.

1873.

the market is in

a more

sober condition,

IMPORTS.

1

1
I
1

showing the present position of the
England, the Bank rate of discount, the price of Consols,
the average quotation for English wheat, the price of Middling
Upland cotton, of No. 40’s Mule twist, fair second quality, and
the Bankers’ Clearing House return, compared with the four
previous years:
Annexed is

parted with their securities
and prices generally show
indications of recovery. Consols are weaker, owing to the un¬
certain state of the great political question agitating Europe.
The wheat trade was dull in the early part of the week ; but
apprehensions of war created rather more firmness towards the
close.
The visible supply of wheat is about adequate to our
wants, and, consequently, both buyers and sellers are operating
with considerable caution. The weather continues very mild,
and fears are entertained, not only in this country, but also in
France, that vegetation, which is developing itself prematurely,
will receive a severe check, which will very materially prejudice
the agricultural prospect.
Owing to the long period of wet
weather, and to the bad state of the land, agricultural work is in
a backward state, and arrears of work will, it is expected, soon
be pressing heavily upon the farmers.
The following figures show the imports and exports of cereal
produce into and from the United Kingdom since havest—vis.,
from the 1st of September to the close of last week—compared
with the corresponding period in the three previous years :
Now that the timid have

market.

1875.

'*£
Circulation, including
£
£
bank post bi Is
25,178,071 25,376,387 23,Oil),044
Public deposits...
13 671,199 7,738.3W
6,196,080
Other deposits
IS.94«,023 18,108,521 18,065,308
Gov. securities
13,3*0,874 13 896,607 13,595,034
Other securities
22,*08,784 17,606,815 18,600,641
.

1876.

1877.

£

£

26,704,787 27,839,295

7,928,105 6,632,608
18.440,770 22,890,468

1875-6.

1874-5.

cwt. 16,972,411

28,354,474

18,223,014

6,755,679

5,039,553

1876-7.
Wheat

Barley

4.816,797
795,917

4,916,639
704,879
I,998,lt9
15,011,743
2,755,189

Oats
Peas
Beans
Indian Corn
Flour

1,721,835

9,542,414
3,ICO,832

7,928,266

1873-4.

21,284,019

4,412,749

4.3 0,070
950.965
1.124,615
6,183,615
3,591,<54

4,143,809
422.157
2,172,6:8
7,355,993
3,069,016

EXPORTS.

Barley
Oats..

105,032

150,611

1,473.813

13,277

151,623
56,979

72,042
56,070

32,931

78,302
85,770

138,445

10,732
4,857
16,635
9,714

13,798
15,940
231,665
18,911

Peas
Beans.

Indian Corn
Flour

The

579,211

14,785
66,310

cwt.

Wheat

return

for the week ending February

11,550
1,048

36,224

7,738
2,081

0 shows that the

English wheat in the 150 principal markets of
England and Wales amounted in that period to 44,764 quarters,
Reserve of notes and
coin
15,450,498 12,783,398 10,199,872 11,412,267 13.996,824 against
46,361 quarters; and it is computed that in the whole King¬
Coin and bullion in
dom they were 179,000 quarters, against 185,500 quarters in 1876.
both departments... 25.278,593 22,781,333 20.862,992 22,801,807 26,438,259
Bank-rate
3X P- c.
3^ p. c.
4 p. c.
2 p. c.
3*4 p. c.
Since harvest, the deliveries in the 150 principal markets have
Consols
9 2%
92>4
92%
94*
95%
wheat
56s. 8d.
63s. 9d.
42s. 7d.
43s. Od.
3d. been 1,161,865 quarters, against 1,114,938 quarters; while in the
English
52s.
No. 40’s mule twist fair
second quality
Is. 3d.
Is. Od." |
Is. 13.
ll*4d.
lid. whole Kingdom it is estimated that they have been 4,647,460
Mid. Upland cotton...
9%d.
6 7-16d.
6%d.
8d. 7 li-16d.
Clearing House return. 143,202,003 131,827,OCO 144,902.030 115,093,000 95,474,000 quarters, against 4,459,800 quarters in 1875-6. The increase this
The following are the rates of discount at the leading cities season over its predecessor amounts, therefore, to 187,666 quar¬
ters.
It is estimated" that, without reckoning the supplies fur¬
abroad :
18,835,914
19,346,807

16,001.441

sales

of

17,818,123

.

Bank

Paris
Amsterdam

Hamburg
Berlin

Frankfort
Vienna and Trieste...
Madrid,Cadiz and Barcelona
Ljsben and Oporto....
ST. Petersburg

Bank Open
rate. mark’t.
p. c.
p. c.

Open

rate.

mark’t.

p. c.
3
3
4
4
4

4%
6
6
6

p. c.

2%
2%

2%
2
2
4

Brussels

Turin,

2*4

the following quantities of wheat and flour
placed upon the British markets since last harvest :

nished ex-granary,
have been

2%

1876-7.
cwt

Florence and

Rome

Leipzig

...

5
4
5

8

Genoa
Geneva
New York.
Calcutta

5

Copenhagen

2%
.

4

2%
5

2%
4%@5%

9

4l/t

4*4

Imports of wheat../.
Imports of flour
Sales of home-grown produce

1873-4.

cwt*

cwt.

40,643,200

Total

Result

1874-5.

cwt.

16,972,411 28,354,*474 18,223,014 21,284,019
2,755,189 3.100,892 3,591,014 3,059,046
20,yi3,6(0 20,069,(03 26,364,100 23,816,400
51,524,366

598,122

114,746

Exports of wheat and flour

8

1875-6.

:

40.013.078

48,178,068 43,159.465

1S6.835

1,559,583

51,409,623 47,991,233 46,599,882

46s. 3d.
44s. 6d.
62s. Id.
England on Wednesday Average price of English wheat... 483. lOd.
amounted to £175,000, the whole of which was placed chiefly at
English Market Reports—Per Cable.
Is. 9 7-8d. for bills, and Is. 9 15-16d. for telegraphic trans¬
Thedaily closing quotations in the markets of London and Liver¬
fers. £137,600 were allotted to Calcutta, £36,000 to Bombay, pool for the past week have been reported by cable, as shown in
the following summary:
and £2,000 to Madras.
Tenders at the above prices received 93
London Money and Stock Market.—The bullion in the Bank of
per cent, and above in full.
The silver market has been dull, England has increased £163,000 during the week.
Wed.
Thur.
Fri.
Tues.
the demand for means of remittance to the East being small; and
Mon.
sat
96 5-16
96 5-16
96 5-16
96 5-18
Consols for money..96 1-16 96 3-16
the price of fine bars is about 57d. per ounce.
96 5-16
96 5-16
96 5-16
96 5-16
account..96 1-16 9.3 3-16
106
106
106
100%
196%
The meetings of the Atlantic telegraph companies have been C.8.6S (5-20@,)’65(old)106
109
109%
109%
109tf
1867... 199%
109%
103%
103*4
108%
103%
108%
recently held. At that of the Direct Company, it wa9 resolved a. 8.10-403
K8%
107%
107%
107*4
107%
107%
New 5s......
107%
not to amalgamate with the Anglo-American undertaking.
The
The quotations for United States new fives at Frankfort were ;
directors of the latter have threatened war against the Direct
U. S. new fives
103%
....
....
....
103%
Company, which means, it is presumed, a reduction in the tariff
Liverpool Cotton Markit.—See special report of cotton.
to a point which will be ruinous, so long as it lasts, to both
Liverpool Breadstuff8 Market.—
Thur.
Taes.
Wed.
Fri.
Mon.
Sat.
companies; but no announcement has yet been made. Even
s. d.
s. d.
s.
s. d.
d
d.
s.
e. d.
with competition, the charge for messages is 3s. per word, which
24 0
24 0
24 0
24 0
Flour (extra State)
9bbl 24 0 24 0
9 10
9 10
9 10
9 H
mast he regarded as sufficiently high.
f 9
Wheat(R. W. spring). V *tl ^ It
10 8
10 8
10 3
io e
8
(Red winter)..... “ 10 6 10 8
It is stated that since the meeting last week, numerous
19 5
10 7
10 7
10 7
«0
(Av. Cal. white).. •* 10 8
10 e
10 9
10 9
10 9
10 10
(C. White dab)... “ 10 10
adhesions to the scheme of reconstruction of the Erie Railway
24 9
24 6
24 0
24 9
24 9
Cornln.W. mix.> M quarter 24 9
36 0
36 0
3$ 0
Company have been received, and that the plan is now virtually Peas (Canadian) V quarterJ16 6 36 6 36 0
The sale of Council bills at the Bank of




-

“

"

“

•

**

“

198

(THE CHRONICLE

Liverpool Provision» Market.—
Sat.
e. d.
Beef (prime mess),. .# tc. 79 0
Pork (W’t. mess)
#bbl fG 0
Bacon (l’g clear mld.)^ cwt 39 6
Uu*d (American).... “
50 6
Cheese (Amer’n fine) “
74 0

79
65
39
49
74

d.
0
0
6
6
0

Liverpool Produce Market.—

.

Rosin (common)... #cwt..
5
“
(fine)
“
10

6
6

Petroleum(roflned)... .$ ga!
14
(spirits)
“
10
Tallow(prime City).. $ cwt. 41 0
“

Cloverseed (Am. red)..
Spirits turpentine

“

75
28

“

41
75

5

10

0

78

6
0
6

0

d.

50
74

0

6

s.

5

6
6
14
10
40 6
75 0
28 0

6
14
10
41 0
75 0
28 0

0

6

Tntir.
d.

Wed.

10

0
0

78 0
64-0
39 6

74

s.

Frl.
s.
d.

0
6
6

64
39
49

5

8
6
14
10

41
75
28

0
0

28

0
0

78
64
S9
49
74

s.

s.

Thur.
s. a.

d.
0

8.

Tues.
d.

Mon.
d.
5
6
10 6
14
10

Sat.
s. d.

10

0

0

Fri.
d.
5 6
10 6
14
s.

40
75
28

10
6

0
0

London Produce and Oil Markets.—
Sat.
£ s. d.

Mon.
Tues.
£. s. d. £ s. d.

LinsMc’ke(obl).$ tn. 9 i0 0
Linseed(Calcutta)

Sugar(No.l2 D’ch std)
on spot, 38 cwt
30 0
$ tun.. SO 0 0
Sperm oil

Whale oil

“

.

35 0 0

80
35

Wed.

Thnr.

0

£ 8. d.
9 !0 0

0

50

35

0 0

0

0

25

35

0

0

25

6

Fri.

£ s. d.
9 10 0

£ s. d.
9 10 0

50

50

0

30 0
30 0
30 6
0 0 80 0 0 80 0 0
25 6

25 6

Linseed oil....** cwt.

9 10
50

9 10 0
5U 0

50 0

60

35

0

0

30 G 7 30 6
0 0 89 0 0

6

0

0

25

6

35

0

25

0
0

Commercial ani> Miscellaneous News.
Imports and Exports for the Week.—The imports this
week show a decrease in both dry goods and general mer¬

chandise.

imports amount to f5,‘<253,264 this week,

The total

against $7,022,002 last week, and $4,570,836 the previous week.
The exports amount to $4,314,520 this week,against $4,670,161 last
week, and $4,977,839 the previous week. The exports of cotton
the past week were 4,961 bales, against 5,224 bales last week.
The following are the imports at New York for week ending (foi

dry goods) Feb. 22, and for the week ending (for genera) mer¬
chandise) Feb. 23
•

:

'FOREIGN

YORK FOR THE WEEK.

IMPORTS AT NEW

1874.

Total for the week.

Previously reported
Since Jan. !

In

1875.

1876.

$3,219,714

$3,305,817

$1,956,8S3

$2,484,333

6,752,556

6,261,973

3,121,999

2,768,931

$9,072,300

$9,658,700

$5,078,878

$5,253,264

52,070,609

Drygoods
General merchandise...

46,341,257

48,680,005

41,171,167

$56,000,017

$53,704,833

$46,424,431

$62,012,909

1877.

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

of

Feb. 27:
EXPORTS FROM NEW YORK FOR THE WEEK.

1S74.

For the week

Previously reported....

1876.

1875.

$6,458,365
37,019,358

$5,133,631
30,753,635

1877.

$1,651,325
32,993,COT

$4,314,520
38,560,593

Since Jan. 1

<13.177,603
$35,S02,266
$37,619,932
$42,875,118
The following will show the exports of specie from the port of
New York for the week ending Feb. 24, 1877, and also a com¬

parison of the total since Jan. 1 with the corresponding figures
for several previous years :
Feb. 19 -Biig Eiche
Feb. 22—Str. Pommerania

Feb. 21—Str. Britannic

the road for $900,000. The road was knocked down to
Joseph Seligman of New York, trustee for the bondholders, for
$159,000.
Mobile & Ohio.—In regard to the late decision of Judge
Bruce, Mr. W. H. Hays writas : “In the Ketchum case, a plea and
demurrer to his bill were interposed.
These have been over¬
ruled by Judge Bruce, District Judge in Alabama, sitting in the
absence of Judge Woods, the Circuit Judge, and the defendants
ordered by* Judge Bruce to answer the bill,
This is the whole
scope of the order of Judge Bruce'dhe statement of Mr. Ketchum
to the contrary notwithstanding.”
The bearing is to be had at
the April term of the U. S. Circuit Court at Mobile.
Norwich & Worcester.—At a special meeting held in Norwich
Conn., February 17, the stockholders voted to authorize an issue
of new bonds to the amount needed to pay for the cost of improve¬
ments in Worcester, and for other extraordinary expenses, and to
provide for the payment ot certain bonds which become due in
July next.
gage on

Wed.

Tnes.
s. d.
79 0
65 0
39 0
49 6
74 0

Mon.
s.

[March 3, 1877.

Porto Cabello

U. S. gold coin...

London

Silver bars
Mcx. dollars

45,060

Mcx. silver coin..

Liverpool

$50,000

Silver bars

Total for the week

20’030
12,8 -9
74,00‘J

$201,869
1,984,515

Previously reported

....

.....

Omo & Mississippi.—In

.

the

United States Circuit Court at

Springfield, Ill., Feb. 28, proceedings were commenced to oust
Messrs. Torrance and King, receivers of the Ohio & Mississippi
Railroad.
The hearing of the case was likely to take some days,
and able counsel appeared on either side.
Pacific Railroads.—The U. S. Senate, by a final vote on the
27th inst., postponed action on the Pacific Railroad sinking fund
fills till next session.
Railroad Embarrassments.—The Railway Age of Chicago
publishes a list of roads sold under foreclosure in 1876, in which
it reports 30 roads, with a total mileage of 3,846 miles, and
nominal capital account of $217,848,000.
In new defaults for
1876 it gives 10 roads, with 2,757 miles, and nominal capital
account of $156,661,000.
St. Louis Lawrence & Western.—This railroad was sold at
Lawrence, Kansas, Feb. 23, for $200,000 to Frank Morrison, of
Boston, who acted in the interests of the mortgage bondholders.
It is supposed that the power behind the throne is the Atchison
Topeka & Santa Fe Railroad, which has rented seventeen miles
of the road for some time past, in order to get into Kansas City.
Sheboygan & Fond du Lac.—The gross earnings of the She¬
boygan & Fond du Lac Railroad in 1876 were $120,784 87, the
expenses $79,900 96, and the net earnings, $40,879 91.
Southern Minnesota.—This road was sold, pursuant to notice,
February 10, under foreclosure of the equipment or second mort¬
gage, and was bought by Albon P. Man and II. P. Cammaun,
trustees under that mortgage.
The trustees have called a meet¬
ing of the bondholders interested in the purchase, at St. Paul,
March 3, to organize a new company in accordance with the law
providing for such cases.
Springfield Athol & Northeastern.—Attachments to the
amount ot nearly $200,000 have been put on the property of this
company, and it is said that the bondholders aie making arrange¬
ments to

foreclose.

Marine Insurance Scrip.—Messrs.

George E. Cook & Co.,
issued tlieir regu¬

insurance scrip brokers, 49 Wall street, have
lar pamphlet, containing full reports of the

New York Marine

Companies for the year 1876. For all parties owning
or dealing in Marine insurance, the pamphlet of Messrs. Cook &
Co. is'a valuable handbook. The following table shows all the
issues of marine scrip outstanding Jan. 1, 1877:
Insurance

1

ATLANTIC.

| 1868

2,193,230
2.093,510

I 1869

$37,400

...

PACIFIC.

ORIENT.

NEW YORK.

1874 ..: $2,1 0,2:0

1864

1874.
1875.
1876.

$53,610
27,730

...

$56,460

1863
54,200
18.6
12,880
7t,320
Total since Jan. 1, 1877...:
| 1570
$2,186,334
25.010 18 *7.
101,620
Same time in—
Same time in—
1,755,000 187!.
156,450
CO. 050 18l8
$534,923
1876....;
1872
$6,359,835 1870
$5,171,095
UNION.
130,710
1875
47/110 1869
$8,172,000 | 1S73
J3.567.C41 1869
6.146.401
55.( :80 ! 1864.
COMMERCIAL.
$125,670
1874
25,6^0 1870
1871
5,641.371 1368
11.252,016
185,510
52,190 1871.
48,950 1865.
1873
11,163 574 1867
$71,270 : 1875.
5,267,504 1871....
83,410
5>,240 1 1866..■
1872
58,470 1872
70,580 1876
2.810,367 1866
4,401,552 1872....
..961873....
81
1874
64,160
62,560|
187192,6' 0
8,909,336.
...071874....
81
63,610
53,930
101,400
$604,420 1375
The
1875
1876
1S77....

...

...

59,00
55,190

|

-

|

...

...

|

!

.

.

—

|

imports of specie at this port during the same periods have 51
..171875....
SUN.
1
99,870 |
been

follows :
^
$1,031,800 1872.
1V76..
$67,650
102,950 1 I860.
Feb. 19—Str. Tybee
Silver coin.
..3781
TACIFIC.
Puerto Plata
$1,410 1877....
39,900
69,030 1 1870
...4781
Gold coin
4(10
1868
$55,7131
Feb. 19—Sir. Alps
Silver coin.
Aspinwall
1,0:0
147,250 1 1875
$107,550 1S6 9
$607,790 1
Feb. 19—Str. Hermann
Bremen
..6Gold coin..
781
ORIENT.
1870
19,466
1
150,530
NEW YORK.
666
Feb. 23—Bark Hornet
Porto Cabello.... Gold coin
65,220 |
1864....
$105,770 1871
$12* ■U’O I
Feb. 21—Str. Suevia
Hamburg
Gold coin
82,990 1565....
42,670
100,830 1872
39,410 1863.

41,210

as

...

.

.

40,600

—

..

...

..

29,250
41,740

..

60,909

69,4C0

...

...

1367....

Total for the week

$105,932
2,218,131

Previously reported
Total since Jan.
Same time in1876
1875
1874
1873
1872

1, 1877

$2,324,063
Same time in—

$575,969
1,331.828
918.037
203.725

275.013

1871
1870
1869
1868
1S67

...

$2,707,515

$46,213,006.

2,097,452

/During last year, the ratio of

ment to the

receipts was only 6 "95 per cent.

292,439

Hannibal & St. Joseph.—There has been a change in the pres¬
idency of the Hannibal & St. Joseph Railroad Co., Mr. Joseph
Richardson accepting the position made vacant by the resignation
of Mr. W. H. Neilson.

Mr. Richardson is

a

director in the Union

Pacific, and it is expected that now the Hannibal & St. Joseph
may reap some profit by the diversion of Union Pacific traffic
over the liner.
The public will have reason to expect, under Mr.
Richardson’s management, fuller reports of the operations of the
road than have heretofore been given.
Lake Erie & Louisville.—Pursuant to notice, this road was
sold under foreclosure of the first mortgage, at Fremont, Ohio,
Feb. 24.
It was bought for $250,000 by James B. Ilodgskin of
New York, for account of the bondholders.
Lexington & St. Louis.—This railroad was sold at auction in
St. Louis, March 1, to satisfy a deed of trust, being the first mort-




—In another column will oe found tlie annual statement of the
Connecticut Mutual Life Insurance Company.
This company is
one of the oldest in the United States, and in the amount of its
assets is only second to one other—its total Dec. SI, 1876, being

3 CO 1,381

599,929

$505,620

o,,3:(

of manage¬
It paid in the same

expenses

time death claims and matured endowments to amount of $2,601,246, and returned to policy-holders $2,461,030. The names and
character of its officers are such as to give strength to the com¬

pany.
California Mining Stocks.—1The following prices, by telegraph, are
nished by Messrs. Wm. W. Wakeman & Co., 36 Wall street, N. Y.:

Alpha

19

Consol. Vir.. 47

Justice...... 12

Savage......

fur¬

8

Belcher
8
Crown Point. 9
Kent nek..... 7
Sierra Nev. .. 7
Best & Belc. 32
Eureka Cons. 15
18
Silver Hill... 5
Mexican
Caledonia
8
Gould & Cur. 12
Ophir
25 ! Uwion Consol 9
California
48
Hale & Norc.
5
Overman.... 84
xel. Jacket. 12
Chol’rPotosi 64
Imperial
2
Ray’d,& Ely. 0 I
California has declared a dividend of $2 per share, payalde Feb. 15, 1877
California shipments so far on January account, to $l,313,0o».
Texas Securities.--Messrs. Forster, Lndlow & Co., 7 Wall et., quote:
109
State 10s. pens§l(‘3M 106 Dallas 10s...~ 87}£ 90
State 7s,gld §106
111
fis of 1892... m
94 S. Ant’io IQs. 90 ....
7s,g-30 yrs §108
13
Austin 10s,
108. ISS4.. jilOO
G.H.&S.6s,g. S6
87
'

§ Wifn interest.

March 3,

No National

®alette.

South Carolinas, while

$40,000 of

banks organized during the past week.

The consolidation bonds
Co. since December 7 are no
“

following Dividends have

recently been announced :

Railroads.’
Chicago Burlington & Quincy.

68.5-20s,1

inclusive.)

15^
demi

Mar.
On

—

and sealed by Chamberlain &
They may be taken as

and coupons signed

obligati

m

of the State.

prima facie evidence that cert-mi old bonds and stocks have been surrendered
to Mr. Cardozo, but they are not binding upon the State.
* * If it shall be
found hereafter that the requisite amount of fundable bonds or stocks was
surrendered. Governor Hampton and his officers can cause consolidation bonds
to be issued in their stead.’’

Comptroller Olcott, of this State, announces that he

—

will further

anticipate payments on the bounty loan/7s due April 1, 1877.
Railroad bonds have been in only moderate demand.
Prices
generally sympathize more or less with the prices of the respective
stocks.
Gold bonds which have been held abroad to a consider¬

MARCH ii, 1877-6 F. M.
Financial Situation.—The
week has been marked by the event which is on every tongue as
able extent are generally lower, in consequence of the weakness
one of surpassing importance—the final settlement of the presi¬
dential question. It is hardly to be expected that this alone is in gold, and without any change in the condition of their com¬
going to produce an immediate buoyancy in all our markets, but panies. The American Dock and Improvement Company bonds
its probable healthy effect in terminating the painful suspense
(Jersey Central) sold to-day at 44, and it may not be understood
which has so long held the business community in bondage, can by all our readers that these are only a plain bond not secured by
hardly be overestimated. Second to the matter just mentioned, mortgage on the property. Default was made yesterday in the
the decision of the U. S. Supreme Court against the railroads in payment of interest on the Lehigh & Wilkesbarre consolidated
the famous Granger suits, the decline in gold to 104£, a slight bonds guaranteed by Central of N. J.
The following were sold at auction :
advance in coal, and the call for $10,000,000 more five-twenties
BONDS.
SHAKES.
of the Treasury, have been events of more
by the Secretary
$5,000 St. Louis & Iron Mt. IIU.
FRIDAY,

Market

Money

Tbe

.

P’ABLB.;(Day8

5
50c.

Salem^fc Lowell (per share) *

Books Closed.

When j

Per
Cent.

COMPANY.

have

been strong for Alabama consols and for
Louisiana consols have also been higher this week with some re
action to-day.
The Charleston Courier says that about
S. C. consols have been issued since Dec. 4, numbered from 3,535,
and remarks that

DIVIDENDS.
The

State bonds

Railroad Ronds.—Southern

State and

fianker0’

199

CHRONICLE

THE

1V77.J

and

less influence.
Our local money

or

market continues very easy, and money on
call is freely offered at
per cent, while strictly prime com¬
mercial paper ranges at 4(25 per cent.
On Thursday the Bank of England report for the week showed
a gain
of £103,000 in specie, and the discount rate remained
at 2 per

cent.

last statement of

The

the New York City

banks, issued Feb. 24, showed a decrease of
above their 25 per cent, legal reserve,

excess
excess

$2,948,700 in the

the whole of such

$19,709,100 the previous week.
shows the changes from the previous
with the two preceding years :

Loans and dis.

1877. — —

Feb. 24.

Fel). 17.

$259,054,400 $258,751,700 Dec.

Specie

'Circulation
Net deposits..
...

Legal tenders.

governments has

for

market

Ronds.—The

$292,017,000
20,700,200 15,921,800
17,022,000 22,4^2,500
224,337,400 233,607,500
49,013,100 51,900,600

$3 *2,700 $268,480,000

I.\554,7c0

United States

Feb. 27.

Feb. 96.

29,374,900 Dec. 2,690,700
15,536,200 Dec.
18,400
2-32,658.800 229,311,200 Dec. 3,347,600
45,808,200 44,713,300 Dec. 1,094,900
32,005,690

1875.

1876.

\

Differences.

stiffened up with the
has not been large,
and the heavy buyers have apparently still been waiting.
One
of the principal causes for the want of buoyancy in the old issues
been depressed until to-day, when prices
firm tone of gold.
The volume of business

considerable lots of bonds coining from
Washington in place of the new 4£ per cents deposited there by
the banks, and also in the feeling created by circulars of the
Syndicate, that the five-twenties will be rapidly called in.
The Secretary of the Treasury has issued the
fortieth call
for five-twenties, embracing $10.6^0,000 bonds, on which interest
will cease May 28, 1877:
Coupon fiords.—$500, No. 35,801 to No. 37,300, both inclusive; $1,000, No.
79,001 to No. 89,000, both inclusive. Total coupon, $7,000,000.
Registered fi nds.—%50, No. 451 to No. '180, both inclusive; $100, No. 5,951 to
No. 6,259, both inclusive; $500, No. 3 801 to No. 3,950, both inclusive; $1,000,
No. 14,301 to No. 14,800, both inclusive; $5 OOP, No. 5,351 to No. 5,831, both
inclusive; $10,000, No. 9,751 to No. 10,083, both inclusive. Total registered,
is also

found in the

$3,000,009.

Closing prices have been as follows :
Feb.

68,1881
6s, 1881

Called bonds
6s 5-20s, 1865

Feb.

Feb.

period.
24.
2G.
27.
reg. .Jan. & July. 112%
11154 111%
coup., ian. & July. *112% *112
*111%
Int.

May & Nov

*103%
108%
*108%
108%
*111%
111%
114%
114%
109%
*113%
reg..Quar.—Feb. 109% 109%
coup..Q,uar.—Feb. 109% 109%
reg..Quar.—Feb. 106% 106%

reg..May & Nov.*108%
coup..May & Nov. 108%
6a, 5-20s, 1865, n. i...reg..Jan. & July.*109
6s, 5-208,1865,n. i..coup..Jan. & July. 109
reg. .Jan. & July. *111%
1867
6s,5-20s, 1867
coup..•Ian. & July. 111%
reg..Jan. & July.*114%
6s, 5-20e, 1868.
63, 5-208,1868
coup..Jan. & July.*114%
58,10-408
reg..Mar. & Sept. 109%
coup..Mar. & Sept.*113%
5e, 10-408
5er funded, 1881

5s, funded, 1881...

4%s, 1891
4%s, 1891

15

Closing prices of
weeks past,

Mar.
1.

Feb.
28.

111%

111

111%

111%

*107% *108 *107%
107%
*107% *108% *107%
*108% 108% *108
10S
108%
*111% *111% *111
111%
111% 111% *113%
114%
114% *114% 113%
114% 109%
109% 113% 109%
xll0%
113%
1<9% ♦109% *109%
109%
109% 109% 105%
105% *105%

.

2d mort., 7s, gold, due 1897,
with interest certificates at¬
tached. Last coupon stamp¬
ed half paid

195

Pennsylvania Coal Co

Clearing-House

being $16,760,400, against

The following table
week and a comparison

50 Long Island Bank
109%
65 Tradesmen’s Nat. Bank
130%
83 Broadway In-*. Co. .. .215%@21G

leading State and Railroad

and the range since Jan.
Feb.

Mch.

42%
*42%

old...;

42%

42 %

! *42*

21%

21%
*78%
*37!$

Virginia fis consol

do
do 2d series... *37
*105%
Missouri 6s, long bonds
72%
District of Columbia, 3-65s 1924
Railroads.
64
Central of N. J. 1st consol. ..

*105%
*71

64%

,

2.

23.

*42%

Tennessee 6s, old
do
6s, new
North Carolina 6s

*16
•

•

•

•

Since Jan. 1, 1877.
»
Lowest.
Highest.
11
45
Jan.
42% Feb. 28
6
42
Feb. 28 43% Jan.
Mch.
19
11 22j% Jan. 6
38

105% 104
72% 71
58

Jan.
Jan.
Jan.

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

Mch.
Mch.

2 85
Jan. 5
1 108% Jan. 26
19 110% Jan. 29
2
17 93% Jan.
2
26 86% Jan.
Jan. 2
28 110
Jan. 8
15 110
Jan. 30
30 98
2 104
Feb. 16
19 117% Feb. 5
Jan. 17
1 118
4 89
Feb. 26
Feb. 7
9 121
? 102% Jan. 3
9 104% Feb. 6
1 98% Feb. 6

53

1C5% 105%
Central Pacific 1st. 6s, gold ... *106% 1' 6%
Chic. Burl. & Quincy consol. 7s *109% 109% *109% 109%
90% 89%
90%
89%
Chic. & Northwest’n, cp., gold
83
83
*82% 78
Chic. M. & St. P. cons, s fd, 7s
1*8% ior% *106% 106
Chic. R. I. & Pac. 1st, 7s
109
♦111
*110
Erie 1st, 7s, extended
98
Lake Sh. & Mich. So.2d cons.cp
104
103% 101
104
•

Michigan Central, consol. 7s...
Morris & Essex, 1st mort
N. Y. Cen. & Ilud. 1st, coup...
Ohio & Miss., cons. sink, fund
Pitisb. Ft. Wayne & Chic. 1st
St. Louis & Iron Mt.. 1st mort
Union Pacific 1st, 6s, gold
do
sinking fund....
*

This

is

•

•

.

•

*112

117%
*88
*98
104

|

•

•

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

....

111
*114% 113
Mch.
1 5% *114% 115
*89
88% 81% Jan.
Jan.
*119
*119% 117
....

103%
97

the price bid; no sale was made

Railroad

Bonds for three

1,1877, have been as follows:

j Feb.

16.

States.

and Miscellaneous

50%

97% Feb.
Jan.
103% 103
93% 92% Mch.

*98%

at the Board.

Stocks*—The stock market

generally depressed, though there has been considerable
irregularity in the movement of prices.
The attacks upon
Delaware & Hudson Canal, whether well or ill-founded, the con¬
test over Mr. Vanderbilt’s will, and yesterday the decision of the
Granger suits against the railroads, have all been unfavorable to
a buoyant market.
Representatives of several of the trunk lines
have also been in session this week, in this city, to make better
arrangements to carry out the agreement of last December, and it
Mar.
is understood that another meeting of the presidents will prob¬
2.
ably be held, though all seem to agree in saying that no one is
111%
in favor of another railroad war. It is hardly anticipated that the
111%
contest over Mr. Vanderbilt’s will can affect the management of
*107% the Central Road, even if the litigation amounts to anything
*10?%
more than bravado.
It turns out that neither Mr. Garrett nor
108%
Mr. Scott have accepted positions as directors of the Atlantic &
108%
*111% Pacific Telegraph.
The motion to remove the present receivers
Hl% of Ohio & Mississippi is just now before the United States Circuit
*113%
Assessments on Erie stock may be paid till
Court in Illinois.
114
109% March 15, but payments after the 1st inst. are charged interest.
110%
The annual report of Chicago & Alton, just issued, shows the
109%
109% following summary of earnings and expenses :
lias been

1875.

105%

1876.

$4,656,763
$4,969,528
coup.. Quar.—Feb
5s, Currency
reg. .Jan. & July. 122% 122% 122% *122% 122% *122%
2,604,125
2,691,061
This is the price bid; no sale was made at the Board.
Net earnings
$2,269,467
$2,052,633
The range in prices since Jan. 1, 1877, and the amount of each
Rock Island will probably be stronger if the company places
class of bonds outstanding March 1, 1877, were as follows:
its 6 per cent, bonds favorably, and pays off the old 7 per cent,
Range since Jan. 1, 1877—, ,—Amount March 1.—, bonds at 105. as proposed.
The slight advance in the price of
Lowest.
Highest.
Registered. Coupon.
coal at ilie sales this week was rather unexpected, and naturally
17 $193,719,400 $
Mch. 1114% Jan.
'6s, 1881
reg. Ill
20
89.916,950 helped the coal stocks quite materially.
The Stock Exchange
6s, 1881
coup. Ill % Mch. 1 114% Jan.
SI. 360,300
19,075,750
6s, 5-20s, 1865
coup. 107% Feb. 25 109% Jan. 19
proposes to contribute, so far as possible, to stimulate legitimate
5
64.9 43,459 137,7! 9,659
Mch. 1 111% Feb
6s, 5-20s, 1865, new..coup. 103
transactions in stocks by making a reduction of one-half in the
Jan. 23
1 114
Mch.
97,035,550 213,587,200
6s, 5-20s, 1867
coup. Ill
15,479,000
21,994,500 rate of commission heretofore charged on stocks, making the
113% Mch. J 117% Jan. 22
6s, 5-20s, 1868.
coup.
1 114% Jan. 27 141,990,900
5s, 10-40s
reg. 109% Mch.
rates, if adopted, 1-16 on speculative business, and | per cent, on
6
52,575,400
2
Earnings from all sources
Operating expenses

*

5s, 10-40s
coup. 110% Mch.
5s, funded, 1881.. 1. coup. 10 % Mch.
4%s, 1891
reg. 105% Mch.
4%8, 1891
coup.
6s, Currency
reg. 121% Jan.

1
1

114% Feb.
112% -lan 22
103% Jan. 2

3| 123% Feb.

5

Closing prices of securities in London have
Feb.

Feb.
16.

U. S. 6s, 5-20s, 1865,
U. S. 6s, 5-20s, 1867
U. S. 5s. 10-408
New 5s




old...

105%

23.

|

106

109% | 109%
108% | 108%
107% 1 107%

Mch.
2.

225.963,350

292,030.800

38,649,5 0
11,350,500

been as follows:
Jan.

2

| 106 Feb. 22
Highest.

108% Jan. 2; 110% Feb. 6
xl08% Feb. 16* 110% Feb. 6
x!06% Jan. 17 107% Jan. 16

week in leading stocks were as follows :
Central Mich. Del.L. St.Paul N. Y,
of N.J. Cent. & W. pref.
Cent.
8,1T9 .31,750 66,027
500 12,250 21,750 13,100 15,243
7.355 40,4(0 56.323
445 13,400 23,716 6,600 20,986
6,040 26,659 18,525
2,180 10,011 23,786 3,100 17,401
10,977 46,925 61,2CO
920 7,800 43,481 5,600 10,809
4,400 41,735 46,150 12,250 7,?00 20,825 18,9.50 11,221
6,820 30,805 45,300
1,893 7,700 25,230 13,750 8,363

Del. & Lake West’n
Hudson. Shore. Union,

61,623,512

<—Range since Jan, l, ’17.—>
Lowest.
105

investments.
Total sales of the

Feb.

24

“

26

“

27

“

28

.....

...

.

March 1..
“

2

43,771 218,265 343,528 18,098 5S.461 1B1.S4S 61,100 81,023;
stock*.'.200,000 494,665 337,871 206,009 187,382 ?58.390 122,744 894,283'

Total

Whole

;

200

THE CHRONICLE.

The total number of shares of stock
outstanding is given io
the last line, for the purpose of
comparison.
The daily highest and lowest prices have been as
follows:
Saturday,
Feb 24.

Monday,

do

Harlem

pref.

18 %

20%
10% 11%

17%

18

99 \
48%
60% 62%
7% 7%

10%
20%

Michigan Cent
N.Y.Cen.&H.R
Ohio & Miss...

25

St.L.&K.C.pf
Wab. P.C. R'ts
Union Pacific.
West. Un. Tel.
Adams Exp...
American Ex.
United States.

51% 53%
99% 102%

46% 49
61% 62%

62

7
7%
11%
11%
21%
22%
•137
137%
52
51%
48
49%
42%
41%
93%
91Y
5%
5%
25
25%
11% ft

40 Y

9i%
5%
»

46%
33% 33%

43%

47%

25%
11%

1

17%
47%

52

137%

*5%

.

17

100

20%

13?

19
11

33%

51

24%

Wednes’y, Thursday,
Feb. 28.

18%
10%

47%

10

% 52
47% 49
40% 4* Y
93 V 95%

Feb. 27.

18%
10Y
i;%

10%
16%
46%
93%
51%
99%
46%
60*
7%

99
46 Y

Ill. Central....
Lake Shore...

Pacific Mall
8t. L. I. M.& S.

18

46% 47%
32Y 33
5«Y 51%

9
20
137

Tuesday,

Feb. 26.

.

At.APac. Tel.
Central of N.J
C. Mil. & St. P.
do
pref.
Chic. A North.
do
pref.
C. R. I. & Pac.
Del.* H. Canal
Del. L. & West
Erie
Han. & St. Jos

7%

12%

23
138
52

49%
42%
95

5%
25

11%

t.

103

’57%
•49

Wells, Fargo..

6^%

65
’.03
.

•

«

....

48

65

83%

•This Is the price bid and asked

;

65

65%

65

43

83%

....

10%

17 Y

18

45Y 47%
32% 83 Y
53%

101%
49%

66%

102
58

51

f.O

49%

82% 83

S3

7%
139

52%
50%

.

Chicago A Northwestern
do

do

pref...

Chicago Rock Island A Pacific..

Delaware & Hudson Canal
Delaware Lack. & Western

Shares
4,145
18,0)8

in

16’,W4S
15,(60
5,i00

Hannibal & St. Joseph
do
do
pref
Harlem
Illinois Central

11

5%

66%
65% 66%
’.02
102%
•57% 53Y
5)

ft

5
5
68
;73
64 Y 65%

102

•57Y 59Y
50

84% 84%

50

•83

83%

prices since Jan.

Whole

Highest.

Low. [High

Lowest.

(

3

1

9
3,000 20
555 135

21% Feb.
37% Jan.

14%! 22
20% 109%
18*/a: 46%
49%; 84%
31% : 45%
55% i 67%
98%. 111%
61% 125
64*/2 120%
7% 23%
10% 22%
18% 33%
130% 145
60% 103%
48% 68%
34% 65%
96
117%
5
24%
16% 39%
10, 26%
22% 33

26 21
Jan.
2 54*4 Jan.

13 £7% Jan.
17 58% Jan.
17 102% Jan.

Feb. 13
60% Feb. 2;v

45
7

74% Jan.

77
Jan.
Feb. 27 10% Jan.
Feb. 24 15% Jan.
Feb. 24 30
Jan.
Feb. 19 141
Jan.’

1,73*! 50*4 Jon218,265; 47*4 Feb.
5^, 461 40*4 Feb.
N. Y. Central A Hudson River..
84,023 91% Feb.
Ohio A Mississippi
2,455
5*4 Feb.
Pacific Mail
16,225 23% Ian.
St.Louis I. M’ntain A South’n..
11
Feb.
St. Louis Kan. City A North, pf..
‘ioo 24 Jan.
Wabash Receipts
1,160 5 Mch.
Union Pacific
4,90
59% Jan.
Western Union Telegraph
343,528 62% Feb.
Adams Express
250 100*4 Jan.
American Express •
197 56% Jan.
United States Express
218 49
Feb.
Wells, Fargo A C p
3*3 82% Feb.
Lake Shore

1,

year 1876.

15*4 Feb.
9% Mch,

Michigan Central.,

The latest railroad

•10

1, 1877, to date.-

6,700 16* Feb.
61,100 45X Mch.
6,053 30*4 Feb.
£0,2<10 48*4 Feb.
£6,772 97* Feb.
43.771

Erie

41% 42Y
92% 94%
5Y
5Y
24% 25

25

Sales
of w’k. ,—Jan.
.

50

48%

5Y

25%
11%

52%

sale was made at the Board.

no

Total sales this week, and the
range
1876, were as follows:

Atlantic & Pacific Telegraph
Central of New Jersey
Chicago Mil. & St. Paul
do
do
pref...

•137
52

43
93

50

83

62% 64%
8
7%
11% 11%
21Y 21%

11%

5%
66%

102%
58%

45% 47
32 Y 3»%
5 2 Y '54%
101
102%
43
50

61

•

•4
65

62% 65
64% 65%
102% 102% *102* 103
57% 57Y
59% 5S%
•

53

9%

25

6%
6%
64% 64%

March 2
19% 19%
9% 10
17% 18%

19

,

....

65%
63%

19

53
54
51Y
101% 102% 100%
48
50%
48%
6: Y 64%
62%
7% 7%
11Y H Y
2*2% 22%
22%
•137
•136%
*51%
52%
49
50%
48%
42% 43
41%
93% 94%
92%
5%
5%
5%
25
25
25%
*10
11%
.

Friday,

March 1.

19% 19%
10Y 11
17% 18
47% 48
34% 34%

31

65*4 Jan.

24

57% Jan,
24 50% Jan.
26 104% Jan.
19 7% Jan.
12 26% Feb.
3
30
2

13
25

Jan.
Jan.

8% Feb.

73
26 78
9 U5

15

2
26

Mch.

74%
80%

Jan.
Jan.

114
67

60% Feb.
59% Jan.

271 89

76%

Jan.

91

earnings, and the totals from Jan.

1 to latest

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

-Latest earnings reported.
1877

or

1876.

1876 or
1875.

,

Jan. 1

to

1877 or
1876.

latest date
1876

or

1875.
Atch. Top. A S. Fe.. 1st week of Feb..
{29,399
$29,249 $156,050 $146,666
Bur. C. Rap. & North. 3d week of Feb
19,849
28,578
121,004
161,682
Cairo A St. Louis....2d week of Feb.
5,597
4,369
29,594
30,723
Canada Southern.
?d week of Feb..
41,818
41,794
180,322
191,166
Central Pacific
Month of Jan... 1,125,000
994,339 1,125,003
994,339
.3d week of Feb..
Chicago A Alton
110,587
95,2:6
606,287
577,834
Chic. Bur. A Quincy.Month ol Dec...
626,120
823,468 12,0*33,950 11,738.448
Chic. Mil. & St. Paul. .3d week of Feb..
99,000
122,721
668,460
890,734
Chic. A Northwest. .Month of Dec....
909,640
933,339 12,467,540 12,811,227
Chic. R. I. A Pacific.Month of Jan...
500,638
489,638
500,638
489,638
Cm. Lafay. & Chic...2d week of Feb.
5,993
9,141
35,3! 8
53,701
Clev. Mt. V. A Del.. .2d week of Fel)..
6,263
7.225
38,398
42,881
Denver A Rio Grande.-’d week of Feb.
10,302*
6.471
63,050*
47,496
Hannibal A St. Jo...Month of Dec....
158,812
151,709 1,927,933 ' 1,661,473
Houston A Texas C.. Month of Dec...
375,341
401,592 3,162,519 2,980,053
Illinois Central
Month of Jan...
374,838
426,163
374,838
426,163
Do. Ia.leased lines.Month of Jan
91,661
127,411
91,661
127,411
Indianap. Bl. AW...2d week of Feb.
18,653
25,221
132,103
199,274
Int. A Gt. Northern, ,3d week of Feb..
32.349
27.2-42
284,193
227,346
Kansas Pacific
Month of Dec...
il*\927
269,825 3.0J0.799 3,3-3,760
LouIby. Cin. & Lex..Mouth of Dec...
96.350
1,130,535 1,116,906
Louisv. A Nashville. July 1 to Dec. 31.
2,755,0 0 2,564.201 5,152,290 4,806,542
Mo. Kansas A Texas.3d wreek of Feb..
60,512
64,852
404,295
435.619
Mobile A Ohio
Mouth of Jan...
232,3*2
214,131
232,382
234,131
Nashv.Chatt. ASt.L.Month of Jan...
150,466
150.466
173,385
173,385
Phila. A Erie
Month of Jan...
232,550
231.193
232,550
231,193
Pad. A Memphis
Month of Jan...
15,110
21,502
15,110
21,503
Rome Wat.
Ogd .Month of Dec...
86,659
92,628
St. Jos. A Denv. City.Month of Jan...
28,280
26,823
26.823
2*,28)
St,L.A.AT.H.(brchs) 8d week ol Feb..
9.658
11,787
80,735
69,685
St. L. I. Mt. A South.3d week of Feb..
105,600
94,c65
734,9 >0
583,295
St. L. K. C. A North’n .1st week of Feb.
4«,539
59,837
288.581
305,936
St. L. A Southeastern.2d week of Feb.
18.949
131.779
18,561
119,2-9
8t. Paul A S. City, Ac.Month of Dec.
64,477
107,562
931,648
877,476
Tol.Peoria A Warsaw.3d week of Feb:.
23,721
31,102
184 537
138,215
Tol. Wab. A West...Month of Dec...
377,221
359.284
Union Pacific
Month of Dec.,.
991,986
903,151 12,886:859 11,993.832
.

..

...

.

.

*

The

earnings this year are based on additional mileage, as the Trinidad
extension, embraced in this year’s figures, was not included during corre¬
sponding time last year.
Tlie Gold

market.—Gold touched, to-day, the lowest price
yet made, selling at 104£ at the opening. Soon after, however,
there was a turn, and tlie price became
firmer, sellirg up to 104£,
which
On

loans

was also the
closing quotation.
gold loans the carrying rates were 1, l£, 3 and 2
were

also made flat.

Silver closed

at

56£d.




notations
r——-»QU
Op’n Lo w. High
105
101% 105%
104% 104% 105%
104% 104% 105
104% 104% 104%
104% 104% 104%
104% 104% 104%

Feb.

Monday,

“
“
“

Tuesday,
Wednesday,
Thursday, Mch.
Friday,
Current week.
Previous week...
Jan.rl to date

per cent.;

/—--Balances.——,
Gold.

Clearings.

(Currency.

$42,871,001
22,440,000
28,684,000
23,645,000
29,745,000
33,728,000

104%
104%
104%

104%

$1,639.517,$!,788,314
1,914,6J5

1,112,500
1,396,627
1,317,365
1,239,681

2,015,567
1,174,071

1,470,081
1,422.410

1,304,111

104% 105% 104% $186,113,000 $
$
105% 104% 105% 105
132,299,001' 1,691,869 2,045,036
107% 104% 107% 104%

..

The

Total
Cl os.
105
105

105

..

following

the quotations in gold loi foreign and

are

American coin:
Sovereigns

$4 85

@$4 89

3 87
4 75
3 90

Napoleons

@ 3 94
@ 4 80
@ 4 10
£, 16 £0
@ 15 60

X X Reichmarks....
X Guilders.
.

Spanish Doubloons. 16
Mexican

25

Doubloons 15 50

Fine silver bars
Fine gold bars

Dimes A half dimes.

95%@
Large silver, %s A%s
w-95%@
—

t

Five francs

Mexican dollars.
English silver...
Prussian eilv. thalers
Trade dollars.

^

121%®
122%
par®%prem.

96
96
— 95
— 99
4 85
— 70
—

—

69

99

—
—

@
@
@
@

@ -161

—Foreign exchange was exceedingly dull until
to-day, but the slack business was met by a
correspondingly
small supply of bills, and so there was
little change.
This
morning, on a firmer tone in gold, leading drawers of sterling
advanced rates to 4 84 and 4
85£ respectively, and business
advanced to 4 83@4 83£ and 4
84|@4 85.
In domestic
exchange, the following were the rates on New
York to-day at the undermentioned
cities: Savannah, buying
selling
Charleston scarce, buying £ premium, selling
pre¬
mium; Cincinnati steady, buyiDg par, selling 1-10 ; St.
Louis,
par ;
New Orleans, commercial, 3-10, bank,
and Chicago,
par.

The revised rates for

foreign exchange

follows

are as

:

-Mch.

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

Documentary commeiciai
Pans
(francs)

Antwerp (francs)

Swiss (francs)
Amsterdam (guilders)

.

Hamburg (reichmarke)

60

days.

3

days.
@4 85%
@4.85
4 83/*@4.84

4.88*4@4.81

4.82%®4.83*/2

4.85
4.84

@4.82%
4.81*4@4.82

4.83

4.82

5.20
5.20
5.20
40

Bremen (reichmarks)
Berlin (reichmarks)

@4.83%
5.17%@5.16%

@5.18%
@5.18%
@5.18%
@

94%@
94%@
94%@

Frankfort (reichmarks)

94%@

5.17*@5.16%
5.17*/*@5.16%

40%
94%
94%
94*/*
91%

40%@
91%@
94% @
94% @

40%
95%
95%
95%
95%

94% @

The transactions for the week at the Custom
House and Sub-

Treasury have been
Custom
House
Feb. 24
“
“

“

2o
27
28

Mch.

1

“

2

Receipts.
$3-8.000
797,000
451,000
214,000
330,000
351,000

Total
$2,551,000
Balance. Feb. 23
Balance, Mcb. 2
New York

as

follows:

Sub-Trcasury.-

Receipts
Currency.
$403,159 60 $616,169 39

Payments

Gold.

890,745
490,639
361,314
37!,502

84
19
73
50
395,293 11

Gold.

$97,308 C4

789.887 09
500,612 96
804,036 43
425,355 56
321,407 02

Currency.

$542,148 91

868,7:38 96
123,179 64
119,S45 93

571,409 66
521,312 85
1,067.254 SO

65,480 00

738,664 24
492,533 48

2,100,624 78

$2,912,703 97 $3,458,063 50 $3,375,178 00 $8,933,823 93
71,694,056 99
44.907,891 07

71.231,582 96 44,432.115 64

City

Banks.—The following statement shows
the condition of the Associated Banks of New York
City for the
week ending at the commencement of business on
Feb. -24, 1877;

riBACtX A1 IOUKT OF-

Loans and
Legal
Net
Capital. Discounts. Bpecle. Tenders. Deposits.
$3,000,000
$3,473,800 *1,907.408 $1,332,4(0
19.359.200
2,050.000
6.212.5UU
615,1X0
2,590,21*8
6,403,400
3,000,000
8,009.630 1,062,900
618,500
6.277.200
2,000,00c
7.111.300
721,503
755,000
5.603,7 0

Bakes.

New Fork
Manhattan Co
Merchants’

Mechanics’
Union

1,500,000
3,000,000
1,000,000
1,000,000
1,000,000
600,000
800,000

America

Phoenix

City

Tradesmen’s
Fulton
Chemical
Merchants’ Exch...

1,000.900

Gallatin, National..

1,500,000
500,000
600,000

Butchers’&Drovers ’
Mechanics & Traders
Greenwich
200.000
Leather Manuf
600,000
Seventh Ward....
300,000
State of N. York..
800.00)
American Exch’ge.
5,000,000
.

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

Commerce
Broadwav

Mercantile
Pacific
Republic

422,700

1,500,000
450.000

Chatham.

412,500
1.000,000

People's
North America

1.000.000
5 00.00 U

danover

trvlug
Metropolitan

3,000.000
600,000
1,000,000
1,000,000
1,000.000
1,000,000
1,000.000
1,500,000

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

300.000

400,000

Importers’* Trad’rs
Park
Mech. Bank’g Asso.
Grocers’
North River
EaBt River
Manufact’rs’* Mer.
Fourth National....

Central National...
Second National....
Ninth National.
First National
Third National
N.Y.National Exch.
Tenth National....
...

to-day, in London.
Customs
receipts of the week were $2,551,000.
The following table will show the course of
gold and gold
clearings and balances each day of the past week;
per ounce,

Saturday,

[March 3, 1677,

Bowery National....

New York Co.Nat..

German American.

Dry Goods
TOW1

.

1,500,000
2,000,000
500,000
300,000
400,000
350,000
100.000
3,750 001

2,000,000
300,000
1,500,CGC
500,000

1,000,000
300,000
500,000
250,000
300,000
1,000,000
1,000.000

4/238,600
8.829.200
3,117,000
5.415,000

9-20.200

1,990,810
692.000
1.735,900
5S8s.l 0

3,121,400
1.356.600

221,000
1,090.600

8 831.2CO

8.314.500
4,212,000
I.490,000
1.611.600
739,700

495.300
£85.700
56,000
27,100

3.115.300

450,600

gco.^oc
2.172.900
1». 06.O00
19,(53.000

97.100
497.900
1.413,000

2.023,300
i 12.900

3.131.700
2.228.700
2.91 •',800

830,400
2S.3t 0

496.200
13: ,500
16,700
157,300
3d7.900
12.000
933.(00

2,'783.000
1,:f.0.700
2.293,IOC
3.531.3CP

2.018.00C

II,633.000
1.656.30C

120.100

2.255.800

4S.700
216,902
78.8)0
423,400
141.700

2.751.801)
2.'63,800
4.2‘'0.000
2.S8v600
3.285.500
I.c5J.500'

805.700
17.200

S46.700
1.459.900

1,130.100
*

22.U0
3.300

Ti'i.auC
Eb9.70O
S09.7OC
407.8'jO

63.60C
2.100

15.7U.400

1.212,600

7 645.000

535.000
550.0)0
P67.9J0

1,726.000
5.S39.40P
4.945.0)0
6,3) 5.5!0

1,139.4(0
t(6ij9.60€
1,142.4(0

17.100

1,431.100
1,127,7(0
54.800
36,000

4,600

l.r.9,3<0

2.572.900
1.910.200

<2.0(0

56 2,CUO

PJ9.000
242.400
1,016.4)0
2,581 .(X.0
511.900
424,4,0
2^,':00
243.300

173,200

5,004.000

1.760.800
16,8(8.1(0
II.679.61X*
1,0)8.400

4

1.156.390

331.100
17,600

449,690
133.700
212.300

1,619,000
2.694,900
851.300
07.2(0
334,700
429,300
686.500
172.500
2yo,oou
f

391.000

470.500

1.759.000
399.700
278,800
£55,500
304,500
494,400
401,100
335.100
241.800
299.0UC
3.b93,80G
3.205,700
23 .70C
223,800
172.60C
101.800
138.0)0

2,169,6(0
1.218.000

'

8.527.1X 0
7.563.9(4)
3.59-* .000
4,397,200
1,748.1U0
1,583.200
9.721.U0
3.1 19.8*90
2.156.300
1,279.000
1.050.71*0
803 9)0
2.997.700
996,900

2.181.100
9,401.(XX)

8.817.7CC
S.484.10C
3.162.300
2.011.600
2,3 0.7(0
2.933,600
l.Oo'J.dOO
1,997.300
2.S89.00C
1.9,6.000
10,6.9.0u-0
1.684 2(0
2. £03.700
1.822.903

1,’15,4(4}
3.1S1.000

Circular
liOD.

$27,00®
7.500

190.900

166.000
ftt

ff

1,100

270.00C
661,600
502,500
437,500
•97.000

192.200
2,700

268.000
36.500
45.000
293.000

2,583,200
898.100
45,000
450.000

273,100
5,400
295.400
91.60C

18.000
133.6C0
3.900
214.800
501.300
557.100

1,651.600

4)100

2.1.3.600
1.102.10C
1.972,100

594.100

19.473,000
I4.345.S0C

464,8eO
60,000
905.000

828.300
750,400

-

•

• •

225.800

773.100
610.400
465,300

62,900

13.812.9.0

1,040,290

632.1(0
1.355.400
293,800
242,900
241.2U0
293.000

6.640,000
1.994,COO
5.412.000
6,466 .C00
8.340,5(0
1.026.500
1.169.700
368.200
1,071.500

1,319.000
250.000
680,000

216 5%)

2.415.300

271.29C

1.2S4.100

no.coo

1.211.7C0

180,000
49.4U)

135,009
4;

0.00

223.400
180,000

$44,485*100 $258,751,700 129.374.9CC $44,713,300 *229,3:1.200 $15,536,390

a.: .:

March 3, 1877.]

THE CHRONICLE

GENERAL

201

QUOTATIONS OF STOCKS AND BONDS IN NEW YORK.
Prices represent the per cent vahie, whatever the
par may fa.

Bid. Ask.

8XCT7RITIBS.

35*

88, 1886.

35

.Ml

8s, 1889
8b, M.&E. RR..
8a, Ala. A Ch. K.

35*

....

do
do

8b Of 1832
8b of 1898

"l7
17

80

25

dp 7s, L, R. & Ft. — —
7b, Memphis & L.R.
7s, L. R.P. B. &N.0
78, Miss. O. & R. R
7s, Ark. Cent. UR..
Connecticut 6s..
Georgia 6s
do
7b, new bonds...
do
7s, endorsed.
do
7b,gold bonds..
Illinois 63, coupon, 1879..
do
War loan..
Kentucky 6s
Louisiana 6s
do
6s, new
do
68, floating debt
do
7b, Penitentiary
do
6s, levee
do
8s, do
do
8s, do 1875
do
8s, of 1910
do
7b, consolidated
do
7s, small
Michigan 6s, 1878-79
do
6s, 1883
do
7s, 18J0
Missouri 6b, due 1877..

8

9
9
0
9

do
do
do
do

..

..

Funding, due 1834-5.
Long bonds, due ’32-’90.
Asylum or un.,due 1892.
Han. & St. Jos., due 1886.
.

.

•

do

coup

do
do

.

.

.

ioi
101
io:
38
38
88
38

t

•

•

•

.

.

.

.

.

.

.

•

•

•

.

•

«

•

.

33
38
38

•

•

•

•

•

....

j

64*

62*
104
115
101

Galena & Chicago Extended.
Peninsula 1st mort.,conv...
Chic. & Milwaukee, 1st mort
Winona & St. Peters, lstm...
do
2d mort.
C. C. C. A Ind’s 1st m. 7s, S. F..
do
consol, m. bonds
Del. Lack. A Western, 2d m.
do
do
7s, conv.
Morris A Essex, 1st. m
do
2d mort
do
bonds, 1900....
do
construction,
do
7s. of 1871...
do
1st con. guar.

101*

II

106*

196

rm
....

•»

•

000

•

124

Erie, 1st mort., extended

....

do
do
do
do
do
do
do

.

—

Forth Carolina—

Funding act, :866

New bonds, J. & J,
do
A. A O

18
13

16
16
66
66
47
47
14
10
10

6b, old. J. & J....
do

A. & O
J.&J....
N.C.RR
do
..A.& O....
do coup, off, J. & J..
do
do off. A. & O.
..

Special tax, Class 1
do

do

....

...

*

*

•

*

....

42*

43

42*

43

42%

series.

Virginia—
6s, old
6b, new bonds, 1S66
6b,
do
1867
6b, consol, bonds
6b, ex matured coup.
6b, consol., 2d series
6e, deferred bonds
District of Columbia 3.65s.
..

....

do

30
31

31

do
do

67%

small.,

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

.

70

•

.

72

,

.

iio
26
90

,

89*

*17
•

•

•

....

*

*

*

....

.

Miscel’ous Stocks.
Am. District Telegraph.
Canton CoBaltimore....
Cent.N. J.Land & Im. Co.
Delaware & Hudson Can’l
American Coal
Consolldat’n Coal of Md..

Mariposa L. & M. Co

do
do
pref.
Cumberland Coal A Iron.

Maryland Coal

Pennsylvania Coal
Spring Mountain Coal....

Railroad Bonds.

(8tock Exchange Prices)

Albany & 8usq. 1st bonds
do

do

rona. artia*-

Boston H. A Erie, 1st m..
guar.

103%

104

no
108

no*

107*
104*

ioe

1st m.

107*

105
80
105

90

107% 108
107
97

2d

8s, .882, s.f. 1121

equipment bonds.

7s

104*

....

do

1st

117*
99*
45

99*1
49

Spring, dlv..

106
do San Joaquin branch 90* 91
89
do Cal. & Oregon i6t
107
do State Aid bonds
do Land Grant bonds..
ioi 102
Western Pacific bonds.
Union Pacific, ist mort. b’ds 103*
do
Land grants, 7s. 102% U2*
do
Sinking fund...
Atlantic A Pacific land gr. m
South Pac. RR. bds. of Mo
Pacific R. of Mo., let mort... 97* 97*
86
do
2d mort
do
income, 7s.
do
IstCarou’tB
Penn. RIJ—
Pitts. Ft. W. A Chic., 1st m.. 119* 122
113
do
do
2d m.. 112
do
do
3d m..

Central Pacific gold bonds

i

.

...

.

..

.

'io*

39

40

do
<lo
do

2d mort

...

equip'! bonds,
con. convert...

102
110
99
107
107
107
107
106
109

107*

95*

(Brokers' Quotations.)
STATES.
Alabama new consols, Class A
do

do
do

?&;

r&g

..

...

I

+..*..

'

Kansas City A Cameron 10s. .*
Kan. C.St. Jo. and C.B. 8s of ’85
do
do
of’98
Keokuk A Des Moines 1st 7s.
do
funded int. 8s
do
pref. stock...
L. Ont. Shore RR. 1st m. g. 7s.
Lake Sup. & Miss. 1st 7s, gold.
Leav. Law. & Gal. 1st m.t 10s..

Logans. Craw. A S. W. 8s, gld.
Michigan Air Line 8s
Monticello A P. Jervis 7s, gld.

Montclair A G. L.lst 7s
do 2d m. 7s (old Mont, lets)
Mo. K. A Tex. 1 .gr. 7s assented
do
2cfm. income...
Mo. R. Ft. S. & Gulf 1st m. 10s.

102

'80
80

85
92
30

25

35

18
25
4
63

*8
65

75.' *80
8*
56

'

57*

'72

do

Class B

7s, gold, 1892

J.*J.

CITIES.
Atlanta, Ga., 7s
do
do

15
50

#

Augusta, Ga., 7s, bonds

Charleston stock 6s

Charleston. S. C., 7s, F. L. bds.
Columbia, S. C., 66

Columbus, Ga.,78, bonds
Lynchburg 6e
Macon bonds

Memphis bonds C

^

do
bonds A & B
do
end., M. A C. RR
Mobile 5s (coups, on)
do
8s (coups, on)
do
new consols

...

Montgomery 8s.

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

consol. 6s

rdilroad, 6s..
imp’ts, 7-30

37%

50

108*

Petersburg 6b

8&
88

80
55
72

‘85>

70
92
82
29
20
30
25
22
43
20
70
70
32
42

73

47

42
85

5»
tt

Wilm’ton, N.C., 6s, gold) coup
do
8s, gold { on.

RAILROiDS.

09
68
63
60
80

Ala. A Chatt. 1st ra. 8s, end....
Ala. & Tenn. Riv. 1st mort 7s..
do
2d mort. 7s...

4
10

Atlantic A Gulf, consol
do
end. Savan’h.
do
stock

55
55

do
do
guar...
Carolina Central 1st m. 6s, g...
Central Georgia consol, m. 7s.

.(lo

stock.

30
97
32
73

Charlotte Col. & A. 1st M.sTs..
do
do
stock
85
Cheraw & Darlington 6s
East Tenn. & Georgia 6s
75
East Tenn. & Va. 6s end. Tenn 75
E. Tenn. Va. A Ga. 1st m. 7s
! 89
do
45
do
stock
1C3
Georgia RR. 7s
73
do
stock....
37
Greenville A Col. 7s, guar
do
7s. not guar 35
Macon A Brunswick end. .s
95
Macon & Augusta bonds..
80
do
endorsed....
do
stock
Memphis* Charleston 1st7s.. '68
57
do
2d 7s...
4
do
stock..
Memphis & Little Rock 1st m. 25
8h
Mississippi Central 1st in 7s..
62
do
2d m. os
...

75
95
83

%*■

40
80
25
50
40
80

£*
00
i00
07
87
80

00
•
20

65.
10
90
35
100
95
77.

*90
85
99

g*

105

78
49
40
90

.

..

Montgomery & West P. 1st 8s.

Mont. & Eufaula 1st 8s, g., end
Mobile & Ohio sterling 8s.
do
do ex cert. 6s
do
8s,interest
do
2d mort. 8s
N. Orleans & Jacks. 1st m. 8s.
do
2d m. 8s.
Nashville & Chattanooga7s.. J
Norfolk & Petersburg 1st m .8s
do
do 7b
do
x
2d m. 8s
Northeastern, S. C., 1st m. 8s..
do
2d m. 8s..
.

20
38
38
22
5

94
70
80
88
86
68
95

Orange & Alexandria, lsts, 6s. ‘85
76
do
2ds,6s..
do
Sds,8s... 62*
40
do
4th8t8s..
Richm’d & Petersb’g 1st m. 7s. 95
t3
Rich. Fre’ksb’g * Poto. 6s

do
do mort. 7s
Rich. & Danv. 1st consol. 6s...
Southwest HR., Ga., 1st m
3. Carolina RR. 1st m. 6s
do
7s, 1902
do
7s, non mort..
stock
do
Savannah A Char. 1st M. 7s....
Charleston A Savan’h fie.end
West Alabama 2d m.8s, guar..
do
i6tm.8s

94
73
00
82

25
25
87
87

#0
60
62
8
29
f=3
65
50
40
26
12
08
75
82
b2
80
iS
75
88
80
TO
45
100

75
95
86
45
30

02
90

PAST DUE COUPONS.
Tennessee State coupqp#.
South Carolina consol
Virginia coupons
do
consol, coup

*

Price nominal.

45
70
20
82
35

>

09

87*

Richmond 6s.:
Savennah 7s, old
do
7s, new

.

106
106

..

wharf

Norfolk 6s

Price nominal

t And accrued Interest*

36
43

89
82

8s
waterworks

Memnhls City Coupei*.......

71*

iio

.

10s, 1881
T.&J. 100
do 10s, pension, 1894.. J.&J 10J

29
10

..

.

50

South Carolina new consol. 6s. 58
61
Texas «e, 1892
06
M.AS. 92
do
7s, gold, 1904-19.0. J.&J., 100* 119

105
no

...

100
75
37
62

..

.

no
112

25
25
109* 110
108
no
108
no
108
no
108
no
22
24
54
61
77
80
70
54
58
Central Pacific, 7s, gold, conv. 94
Central of Iowa lstm. 7s,gold.
35
do
do
2d m., 7s, gold
>>
Keokuk A St. Paul 8s
100* ib2
]
Carthage & Bur. 8s
a -t 100* 102
Dixon Peoria* Han. 8s.
103
C?St 101* 111
O. O. A Fox R. Valley 8s
110*
110
111
...
linols Grand Trunk....
!10* 111
20
25
Chic. Dub. A Minn. 8s
Peoria A Hannibal R.
100* 102
t84
85
Chicago A Iowa R. 8sSb. 3
+ 100* 102
American Central 8s
9
t
Chic. A 8’thwestern 7e, guar.
10
Chesapeake A 0.2d m., gold 7s "5
20
25
Chicago Clinton & Dub. 8s
15
25
Chic. & Can.South lstm. g. 7s.
Ch. D. A V., I. dlv., lstm. g. 7s. 11
14
48
Chic. Danv. A Vlncen’s 7s, gld 43
Col. A Hock V. 1st 7s, 30 years, tioo 101*
95
100
do
1st 7s, 10 years,
do
90
2d 7s, 20 years..
*74
77
Connecticut Valley 7s
'
30
Connecticut Western 1st7s.... 25
Chic. A Mich. L. Sh. 1st b’s, ’89. t60
70
Dan. Urb. Bl. & P. Ist m. 7s, g. 38* 42*
Des Moines & Ft. Dodge 1st 7s.
Det. Hillsdale & In. RR. 8s
70
Detroit A Bay City 8s, guar.. *+i 65
Det. Lans. & Lake M. 1st m. 8s! 25
do
2d m. Ss.
is
18
Dutchess A Columbia 7s...
70
Denver Pacific 7s, gold
75*
42
Denver A Rio Grande 7s, gold. 40
Evansville & Crawfordsv., 7s.. 99
102
Erie A Pittsburgh 1st 7s
1109
do
2d 7s
SO '90 ‘
do
7s, equip...|
Evansville Hen. & Nashv. 7s...| 40
80
Evansville, T. H. & Chic. 7s. g.!*'5
Flint Pere M. 8s,Land grant.. *80
90
Fort W., Jackson & Sag. 8s... *55
65
98
Grand K. & Ind. 1st 7s, guar..
103
86
do
89
1st L. G. 7s...
do '
1st ex L. G. 7s
Grand River Valley 8s, ist m..
iod
89
Hons. & Texas C. 1st 7s, gold.. 87
63
do
73
consol, bds..
77
Indlanap. A Vincen. 1st 7s, gr..
Iowa Falls A Sioux C. 1st 7s... +87
92
Indianapolis & St. Louis 7s.... « i 68*
76
Houston A Gt. North. 1st 7s, g.
77 i 80
International ^Texas) 1st g ..
83
37
Int. H. & G. N. conv. Ss
Jackson Lans. & Sag. 8s, 1st m t90
92*
Kansas Pac.7s,g.,ext.M&N,’99
40
do 7s, g., I’d gr.,J&J,’80 56
‘30
do 7s, g.,
do M&S,’86
49
do 6s, gold, J.&D., 1896 '47
65
do 68, do F.& A., i895. 60
35
do 7s, Leaven, br., ’96.. 30
y
do Incomes, No.
2
do
do
No. 16
do
Stock
*1%
2*
85
Kalamazoo A South H. 8s, gr.. +75
94
97
Kal. Alleghan. & G. R. 8s, gr..

*90

Southern Securities.

..

..

8 p. c.

....

108
1071
1071
107
111
98
100
106

Rochester C. Water bds., 1903+ 109* m
101
Toledo 7.30s
100
Yonkers Water, due 1903..
107

Suincy A Warsaw 8s

do

St. Louis Vandalia A T. H. 1st. *05
do
2d, guar *65
St. L. A So’eastern 1st 7s, gold. 34
St. L. & I. Mt. (Ark. Br.) 7s, g.
60
Southern Central of N. Y. 7s.. 100
Union & Logansport 7s.
Union Pacific, So. branch, 6s,g 54
Walkill Valley 1st 7s, gold
West Wisconsin 7s, gold.
50
Wisconsin Cent., 1st, 7s
25
Mercant. Trust real est.mort.7t

112
100

...

108

Cleve. A Pitts., consol., s.f.. iio
105
106
uo
4lli mort
Col. Chic. & Ind. C., 1st mort 31*
do
do
2d mort
6*
48
48*6 Rome Watert’n & Og.,con. 1st
85
St. L. & Iron Mountain, 1st m. 98* 93*
82
34
do
do
2dm..
5%
H.—
"m St. L. Alton & T. 1st mort
*07
110
Alton & T. H.,
do
2d mort.,pref., 88
90°
do
2d mort. inc’me
2u0
90
Belleville & S. IU.R. 1st in. 8s 8S
03
Tol. Peoria A Warsaw, E. I)... 85
do
W. D..
do
do
do Bur. Dlv.
do
do 2d mort..
do
35
100
do consoles
108
104
Tol. A Wabash, 1st m. extend.. 102
89* 90
90
do
ex coupon
88*
do
istm.oi.L. dlv. 77*

...

Bur. C. R A Minn., 1st Ts, g




Cons, reg.,

84
20

.

...

do

82

aciflc Railroads—

18
•

....

„

80

2d dlv.

do
do
7s. reg..
North Missouri, 1st mort
Ohio & Miss., consol, sink. fd.
do
consolidated....
do
2d do

98

New Jersey Southern
""*
N. Y. New Haven & Hart. 151
153
Ohio & Mississ ppl, pref
Pitts. Ft. W. A Cn., guar..
90*
do
do
special.
“95
Rensselaer & Saratoga
99
Rome A Watertown.....
25
St. Louis Alton & T. H
do
do
pref.
Terre Haute & Ind’polls
Toledo Peoria & Warsaw.
Warren

2d
3d

91*

Harlem, 1st mort. 7s,coup... 118*

.

Morris & Essex v
Missouri Kansas & Texas.

do
do

103

.

....

do
pref
Chic. Bur. & Quincy
Cleve. Col. Cin. & I.
Cleve. & Pittsburg, guar..

i07*

do
102*
6s, real estate.,
do
6s, subscription, lo3'
114115
do & Hudson, 1st m., coup
do
do
lstm., reg.. 1-4*
Hudson R. 7s, 2d m., s.f., 1885 112*

C entral Pad tie

Chicago & Alton

102
103

New Jersey Southern lstm. 7s

registered

Railroad Stocks.
(Active preri'usly quot'd.)
Albany A Susquehanna...

do

do
do
consol.
6%
72* N. Y. Central 6s, 1883
do
6s, 1887

6

71%

Ill

Marietta A Cin. let mort
Mich. Cent., consol. 7s, 1902....

....

"60%

mu
92*

t

....

do

109
in
103
109

Atchison & P. Peak, 6’, gold
Atlantic A Pacific L. G. 6s, gld
Atchison A Nebraska, 8 p. c...
Bur. & Mo. Riv., land m.77s.. .+
do
’ Sd 8., do 8s...t
do
4th S., do 8s...t
do
5th S., do 8s... t
do
6thS.,do8s...+
Bar. C. R. A M. (Mil.) g. 7s....
Cairo & Fulton, 1st 7s, gold...
California Pac. RR., 7s, gold ..
do
6s, 2am. g.
Canada Southern, 1st m
do
with int. certllS

*

Sandusky Mans. & Newark 7s. *92

95
105
105

RAILROADS.

*80

101

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

35

-

104

103* 103%

Cedar F. & Minn., 1st mort..

114

45
45
35
3

103

101

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

110

*38*.

102-*
114*4

Dnbnque A Sioux City,1st m.

P

*

Poughkeepsie Water.

-

.

t

Oswego

•04

Illinois Central—

3*

*

108*

+
..+

•

...

+
+
...+
f
+

Indianapolis 7.30s
Long Island City

Newark City 7s
do
Water 78

.

16*
15*
11%

*

104
104

ioi

do
do
large bds.
Han. A St. Jo., land grants ...
do
8s, conv. mort.

....

3
106

7fl of 1888

do
do

....

36

do
endorsed
2d mort., 7s, 1879
3d
do
7s, 1883
4th do
7s, 1830
5th do
7b, 1888
7s, cons., mort., gold

bds
Long Dock bonds
Buff. N. Y. A E, 1st.m., 1877...

•

113%

Non-fundable bonds
Tennessee 6b, old
do
6s, new
new

•

105

April * Oct
Funding act, 1866.......
LandC., 1889, J. & J
LandC.. 1889, A.& O....

6s,

•

...»

2

Class 4
Class 3

Ohio 6i, 1881.,
do 6s, 1886
Rhode Inland 6b
Sooth Carolina—
68..-.
Jan. * July

do

•

14*

1868

Elizabeth City, 1880-95
do
1885-93
Hartford 6s

•

-

5054

60
do
do
1881
52
do
ao
1877
34
do
do coup. 7s, 1694
Lehigh & Wilkes B.con.guar 33
Am. Dock A Improve, bonds 44
45
do
do
reg. 7,1891
Ch. Mil. & St. P. ist m. 8s, P.D. 114* 115
Long Island RR., let mort.
do
do
2dm. 7 310, do
South Side, L. I„ 1st m. bonds
95*
do
do
do
sink. fund..
7s, gold, K.D..
do
do
1st 7s £
do
Western Union Tel., 1900, coup
do
do
do
do
lstm., La C. D. 97* 98
reg ...
do
do
lstm.,I.& M.D. 85
Miscellaneous List.
82
do
do
1st m.t I. & D
(Brokers' Quotations.)
82
do
do
1st m., H. & D.
CITIES.
do
98
do
lstm., C. & M.. 97
do
Albany, N. Y., 6s
1st m., consol..
do
82% 83*
Buffalo Water, long
do
+
do
2d m.
do
Chicago 6a, long dates
Chic. A N. Western sink. fund. 107*
+
do
7s, sewerage
do
do
t
int. bonds 104
do
7s, water
do
+
do
consol, hds 104
do
100
7s, river improvem’t +
do
ext’n bds..
do
do
7s. various
t
105
do
do
1st mort
Cleveland 7s, long
+
do
do
cp.gld.bds. 90% 01
Detroit Water Works 7s
.+
89
do
do
reg. do

•

..

59

Iowa Midland, 1st mort. 8s...

.

do

1st consol

con.conv

do
do

•

..

_,

do

Mo. R. Ft. S. A Gulf 2d m. 10s.
8
IS
104
N. Haven Mlddlet’n A W. 7s...
10
15
N. J. Midland lBt 7s, gold
89*
22
25
do
2d 7s
70* 71*
1
i
New Jersey A N. Y. is, gold...
N. Y. A Osw. Mid. 1st 7s, gold.
6
io*
do
2d 7s, conv.
1
2*
North. Pac. 1st m. gld. 7 3-10
12
Omaha A Southwestern RR.
95
Oswego A Rome 7s, guar .. . 98 100
Peoria Pekin A J. 1st mort
•60
70
Peoria* Rock 1.7s,gold
40
50
92
93
Port Huron & L. M. 7s, g. end.
15
18
91
Pullman Palace Car Co. stock. 72* 73
92
do
bds., 8s, 4th series 80
86
Rockf. R. I. & St. L. 1st 7s, gld 14
20
Rondout & Oswego 7s, gold...
Sioux City & Pacific 6s
55
+54
Southern Minn, construe. 8s..
59
0&
do
99
7s, 1st
104
St. Jo. & C. Bl. 1st mort. 10s... »70

..

10J

...

68, Canal Loan, 1877 .. ..
6b,
do '
1878
6s, gold, reg. ...1837
6b, do coup...’887. ... 120
6b, do loan...1888
120
do
1891
6s, do
do
1892
6a, do
do
1833
6s, do

..

•

....
•

101*
101*

Bounty Loan,reg

•

11
11

do 1837. 106

New York State-

•

....

111%
93*

....

1878

•

•

-

Bid. A*.

8SOUBITIXS.

~49 ~

...

....

Arkansas 6s, funded,

do

Ask.

SBCURITIIS.

Hannibal A Naples, 1st mort
Chesapeake A Ohio 6s, 1st m..
do
ex coup
Great Western, 1st m., 1838.
do
ex coupon...
Chicago A Alton sinking fund.
114
do
1st rnort
do
2d mort., 1893.
do
income
Quincy A Toledo, 1st in., ’90..
Joliet & Chicago, 1st mort... 108
Illinois A So. Iowa, 1st mort
88
Louisiana A Mo., 1st in., guar
do
ex coupon.....
St.Louis Jack.& Chic., 1st m. 104
105*
Lafayette Bl’n A Miss., 1st m
Chic. Bur. & Q. 8 p. c., let m...
Han. & Cent. Missouri, lstm
do
ao
consol, m. 7s 109* no*
Pekin Llnc’ln & l)ec’t’r,lst m
10*5*8 ioo* Boston & N. Y. Air Line, 1st m
Chicago, Rk. Island A Pacific.
do
S. F. Inc. 6s, ’95 102* 103
Cln. Lafayette & Chic., 1st m
Central of N. J., 1st m., new...i 104*
Del. A Hudson Canal, 1st

35

do
do
do
do

do

Ask.

~23

State Bonds.
Alabama 5s, 1883.
do
58,1886

do

Bid.

SECURITIES.

52
80x
no.
84-

; ~

f
■

■

[March 3, 1S77

IHE CHRONICLE.

202
——

1"

Z

r

1

-

-

Less

Htuustmenfs
CORPORATION FINANCES,

last Saturday
of the
sold at the

supply regular

printed

'

.

were

placed in Chicago Burlington & Quincy 8

cent sinking fund.
Proposals have been invited for all other bonds as required by
the several traffic contracts, with the exception of those of the
Burlington & Southwestern Railroad Company, as to the obliga¬
tions to purchase which there are some questions pending ; but
per

The “ Investors’Supplement” Is published on the
of each month, and furnished to all regular subscribers
Chronicle. No single copies of the Supplement are
office, as only a sufficient number is
to

subscribers.

none

others have been offered.
TOTAL ASSETS AND

LIABILITIES, DEC.

Permanent investment, bills and accounts
materials on hand for future use

^ANNUAL REPORTS.

From

following

:

Making net assets oyer

EARNINGS.

*

The gross
lines, were:
From freight

receipts of the road,

Bonds..
Accounts payable
Bills payable (of which
RR. $1,985,083)

including branches and leased

$27,5^8,242

From passengers
From mail, express,
From interest and exchange

528,826
53,814

Total earnings
Operating expenses, including taxes,

and also a disputed tax on

capital stock, for 1874, amounting to

$12,067,764

$133,803

6,863,545
$5,189,249

Leaving net earnings for the year

earnings, excluding interest and exchange, in 1876,
-were $12,003,950; in 1875, $11,738,488; showing an increase in
1876 of $205,502. The expenses proper in 1876, including ren¬
tals and taxes belonging to this year’s account, were $6,813,999;
in 1875, $6,518,644; showing an increase in 1876 of $295,355.
'The whole cost of steel rails used in relaying tracks has been
charged to operating expenses in 1876. Heretofore the differ¬
ence of cost of steel over iron has been charged to the construc¬
The gross

.

$63,736,941

27,501,325

for account St. L. R. I. & C.

414,232

2,043,575 - 57,557,374

$6,179,566

liabilities as before stated
COMPARISONS.

miles of road, including branches and
beginning of the year was
Quincy Alton & St. Louis railroad, leased Feb, 1, 1876

The number of

$P,S21.225
2,653,838

31, 1876.

receivable, cash and

Capital stock

Chicago Burlington & Quincy.
(For the year ending Dec. 31, 187G.)
the annual report of this railroad we have the

43.346
$169,903

Total

All of which

AND

STATE, CITY AND

14,616—

$15,000 sold

leased roads, at

the

1.343

Number of miles at the end of the year
Average number of miles operated during the year
Average number of miles operated in 1375
ST. LOUIS ROCK

are

not

1,339
1,263

ISLAND & CniCAGO RAILROAD.

acquired Oct. 1,1876, but the accounts of that
have been kept distinct from those of this company, and

This road
company

1,29?
46

was

included in the report.

BUSINESS AND PROFITS.

Although the amount of business, both passenger and freight,
has increased, it will be seen that the earnings have not increased
correspondingly. This lias been largely due to the reduction of
rates, through the acceptance by this company of the provisions
of an act of the legislature of Iowa, relieving railroad companies,
their agents, and employees from all prosecutions, fines and for¬
tion account.
The net earnings in 1876 were $5,189,950; in 1875,
feitures for the non-observance of the act known as the ** Rail¬
$5,219,804; showing a decrease in 1876 of $29,853. The total road Tariff Law,” on condition that the railroad companies operate
number of passengers carried in 1876. exclusive of mileage and
their roads for a period of two years, provided the law shall re¬
season tickets,
was 2,215,783 : in 1875, 2,019,484; showing an
main in force during that time, under and in accordance with the
increase of 196,299. The total number of tons of freight hauled
schedule prescribed by said law.
in 1876 was 2,892,614; in 1875,2,711,952; showing an increase
TAXES.
in 1876 of

180,622 ions.

During the year, thesuit enjoining the collection of the tax upon
capital stock for the year 1874, and pending in the United States
Supreme Court at date of last report, has been determined. This
Leaving a balance of.
$3,lt7,292 iax was for $191,725. Of this amount, $138,808 was, contrary to
Out of which has been paid:
expectation, adjudged to be due, and has been paid. The tax on
Dividends Nos. 31 and 32
$2,749 065
capital stock for 1875, amounting to $129,537, was enjoined in the
Kents of tracks and depots.
84,263
Illinois State courts.
This suit, as well as that enjoining the tax
United States tax. adjustment of old claim
24,940
Amount transferred to sinking fund for 1816
191,082—$3,032,351 for 1873, for $223,287, also in the State court, both pending upon
Leaving surplus over every current liability and sinking
other questions not heretofore raised, it is expected will be de¬
fund for the year
144,911
termined during this year.
To which add amount at credit of income account at the
commencement of the year
BRANCHES AND NEW CONSTRUCTION.
4,361,567
Less amount of securities transferred from income
In accordance with the authority conferred at a special meeting
account to cred t of sinking fund for previous years to
of the stockholders held Dec. 11, arrangements have been made
bring sinking fund up to full amount required by con¬
ditions of the 8 per cent mortgage
515,125— 3.846,442 for a lease of the St. Louis Rock Island and Clrcago road to this
Total
$3,991,3:3 company, at a fixed annual rental of $175,000, for the period of its
charter, with provisions for renewal, so that in effect the lease
From which deduct suspended debts and investments of doubtful
value.,
1,531,061 will be in perpetuity. Arrangements are in progress for provid¬
ing means to pay the amount already expended, viz., $1,985,083,
Leaving net income accoun1 estimated at
$2,458,321 and for the renewals
immediately wanted, by the sale of $2,500,The sinking fund for C. B. and Q. 8 per cent bonds stands at
2,072,952
The sinking fund for B. & M. R land grant bonds stands at
1,114,639 000 C. B. & Q. 5 percent, bonds. Since the date of this report,
Local aid used for construct:on B. & M. It. RR
381,070
$2,200,000 C. B. & Q. 5 per cent, bonds have been sold under
Amount at credit ol profit and loss account
151,582
public proposals, netting $1,925,000.
These bonds will be secured by an equal amount of bonds, of
Total
$6,179,566
even date, of the St. Louis
Rock Island and Chicago Railroad
CAPITAL STOCK.
Company, bearing 7 per cent, interest per annum, secured by a
$25,100,110
Capital stock at date of last report
first mortgage on said road and equipment, and deposited with
Issued in the year in exchange for stock or the B. &
Co
M. R. R R.
2,127,700- 27,227,810 trustees, who will be authorized to apply the difference between
B. & M. R. RR. Co. stcck outstanding at date of last
the 7 per cent, interest received, and the 5 per cent, interest paid,
report...
2,412,732
to the purchase of such 5 per cent, bonds, upon public proposals,
Issued in the year in exchange for B. & M. R. RR.
Co. bonds
85,500— 2,498,232 as may be offered at a cost not exceeding par and interest, thus
Less amount of subscription to stock of B. & M. R.
absorbing the whole issue of the 5 per cent, bonds within twentyRR. Co. refunded
100

*

$5,189,249
1,991,936

' '

Net income for 1876, as above
luterest on bonds

Less stock of B. & M. R. RR.Co
forC. B. & Q. stock

the immediate

exchanged

$2,127,700—

2,127,860

Total stock of B. & M. R. RR. Co. outstanding

$370,432

Aggregate amount of stock on both roads outstanding Dec. 31,1876 $27,598,242
'

FUNDED DEBT.

JJJThe funded debt of this company at the date of the last report,

including the contingent indebtedness of its branch bonds and
the bonds of the Burlington & Missouri River Railroad company,
was $27,539,575.
Issued during the year, C. B. & Q. 7 per cent,
‘bonds, payable 1903, $2,005,000. Taken up during the year,
$2,043,250.
Decrease of funded debt during the year, $38,250.
Funded debt, Dec. 31, 1876, $27,501,325.
The bonded iudebtedness of the Burlington & Missouri River
Railroad company at the end of the year, included in the above
•statement, was $5,908,850, of which $1,269,000 are convertible
into Chicago Burlington & Quincy stock, and $1,600 are overdue
•bonds not yet presented for payment, the balance constituting the
land grant mortgage.
TRAFFIC CONTRACTS.

Under the
were

operation of the traffic contracts, the following bonds

bought in the

year :
Chicago and Iowa railroad—
From business of 13'5, $60,000, costing
From business of 1376, $72,010, costing

$54,651
71,905

$126^556

Total
(Kansas
_

City & Cameron railroad—
$57,060, costing




$57,963

five years. The sale of these bonds will provide for
reduction of the item of bills payable.
The road extends from the junction with the Chicago and
Northwestern railway near
Sterling, to Rock Island, and
thence to St. Louis, having a joint interest with the Chicago and
Northwestern railway from Sterling to the junction, a distance of
five and two-tenths miles, and using the Chicago Rock Island &
Pacific road, near Rock Island, for a distance of twelve miles, and
the Indianapolis and St. Louis road, near St. Louis, for a
of twenty miles, under running arrangements with those com¬

distance

panies, with a branch extending from Sagetown, on the main
line of the C. B. and Q. road, to Keithsburg, a distance of eight¬
een
miles, in all, two hundred and seventy miles of road abso¬
lutely acquired, besides rights over roads above referred to. The
equipment bought with the road consisted of thirty engines,
fourteen passenger cars, six baggage and mail cars, fifteen way
cars, and eight hundred and ninety-seven freight cars.
A preliminary contract for the perpetual lease of the Quincy
Alton and St. Louis Railroad has been carried into execution at a
fixed rental of $42,000 per year, dating from Feb. 1, 1876. Noth¬
ing has been done during the year in the matter of the bridge
at Clinton, the affairs of the Chicago Clintou and Dubuque rail¬
road being still in an unsettled condition, and thus preventing
any permanent arrangement in regard to its business, pending
which it has been thought advisable to defer any expenditures at
Clinton.
The construction and

during the year:

equipment account lias been increased

March

$307,345 Kentucky, formerly known as the Evansville Henderson & Nash¬
72,017 ville Railroad, 98 miles long, were as follows:

and buildings
equipment

For road

For

—«

$379,303

Total
TRACK AND

The track and equipment
have been 72.14 miles of track

EQUIPMENT.

have been well kept up. There
relaid with steel rails during the

year—40.54 miles in Illinois, and 31.60 miles in Iowa.
number of miles of steel rails
•

now

in the road is 461.1.

The total

6.0,371 acres.

Amount

Acres.

,..

$405,209

15,575

$199,621

£03,587

..16,120

.$327,900

17,187

$280,712

The

9,806

Express

3,92?

Miscellaneous

2,933

$265,078 have been paid to the trustees in the Burling¬

Missouri Iliver land grant mortgage.

earnings

$20,34#

Freight department
Maintenance of way
Motive power
Maintenance of cars
General expenses

45,41fc
104,421!
68,071

..

81,960-

17,540'
$287,751

general result of this department at the end of the year is

follows :
Doe on principal represented by contracts on hand

Compared with the fiscal year ending Oct. 31. 1875, the gross
earnings show an increase of $56,236, the operating expenses an
increase of $8,150, and the net earnings an increase of $48,086.
During the year, 101 549-2240 tons of steel rails and 522 261-2240
rails have been re-rolled and laid

679,893
11,387
7,181

1,121.425
223,980
$4,941,995
44,431

special deposit (partial payments).

Leaves an estimated result of this department
To meet bonds issued under land grant mortgage,

$4,897,563

coal

cars.

TENNESSEE

earnings of that part of the railway lying in Ten¬
formerly known as the Edgefield & Kentucky Railroad,
miles long, were as follows:

The gross
48

GROSS

OPERATING EXPENSES.

EARNINGS.

$51,944 Passenger depaitment
91,584 Freight department...

Passenger

Freight/...,

4,683

Mail

1,704

Express

2,463

Miscellaneous

$10,505
25,515
32,093:
32.620

Mamtenance of way....
Motive power
Maintenance of ears...
General expenses

15.456

7,393

$152,380

$5,058,350

$123,621
Net

report concludes as follows:
summing up results, it will be seen that we have passed
through a year of great dulness in general business; but, with
the help of fair crops in the country through which the road
passes, have accumulated a surplus beyond our usual dividend of
$339,023, which has been used in paying $194,082 into our sink¬
ing fund ; and the balance, $144,941, has been used for new con¬

DIVISION.

nessee,

CONCLUSION.

The
“
In

this division of

together with the earnings for November and December, can bo
applied to the payment of coupons and the purchase of additional

of which there is

outstanding

on

the road, and 250 tons more of iron rails have been re-rolled and
will be laid immediately.
There remain in the hands of the receiver $11,801, which,

$2,878,116

Due for interest on those contracts
Tax certificates on hand
Bills receivable on hand
Paid treasurer C. B. & Q. It. It. Co. for sinking fund.
Acres remaining, 44,796, estimated at $5 per acre

48,790

..:

as

From which deduct

Passenger department

$336,542

tons of iron

remaining unsold Dec. 31,1876, 44,706 'acres.

Gross caSli receipts for this department
Disbursements

ton and

OPERATING EXPENSES.

$86,293
233,575

Mail

Net

31.701

Gross sales in the year
Canceled

Of which

GROSS EARNINGS.

Passenger
Freight

LAND DEPARTMENT.

The lands unsold at date of last report were

Land

203

THE* CHRONICLE

3, 18? 7.J

23,758

earnings

Compared with the fiscal year ending October 31, 1875, the
earnings show an increase of $30,592, the operating
expenses a decrease of $7,720, and the net earniDgs an increase
gross
of

$38,313.
At the

close of the

of the receiver

fiscal year, there remained in
TIIE ENTIRE

struction in Iowa.

the hands

$6,205.
LINE.

earnings of the entire line and branches, 355 miiesr
year ending October 31, 1876, were
$1,111,423 ; operating expenses, 877,416 ; net earnings, $234,006.
in Iowa.
>
Compared with those for the fiscal year ending Oct. 31, 1875,.
“Our road and equipment are in good order, but some addi¬ these
figures show an increase of gross earnings amounting totional rolling stock is required.
What funds we need for equip¬ $92,315, an increase of operating expenses amounting to $9,512,.
ment and for construction in Illinois we can raise, when neces¬
and an increase of net earnings amounting to $82,833.
sary, by selling 7 per cent consolidated bonds, authorized by our The indebtedness of the Consolidated Company has been reduced
mortgage for that purpose.
during the fiscal year
•
$123,927
main track in Illinois nearly all relaid with
steel, and are steadily replacing iron with steel on the main line
“We have

“

our

For construction in Iowa no bond fund Is

provided, and we
needed for such construction to future sur¬
plus earniDgs, or must realize it from assets which now represent
the surplus of past years, as we have heretofore done ; but, a3 an
offset to this drain upon our resources, our lands and land fund in
Iowa have given very satisfactory additions to the sinking fund
for meeting our laud mortgage bonds upon that portion of our
must look for money

road.”

(For the year ending October 31, 1870.)
report of the receiver has the following :
earnings and operating expenses of that part of the rail
way in Illinois and Indiana, including the Shawneetown and
O’Fallon branches, in all 210 miles of road, known as the St.
Louis Division, for the fiscal year ending October 31,1876, were
The
The

follows:
Passenger Department
Freight department

$46,072
91.848

15,6*3

Maintenance of way

122,688

9,949
9,385

Motive power
Maintenance of cars

111,446

$203,361
£84,191

Mail

Exprese
Miscellaneous

General expenses

railway, for the fiscal

the close of the last fiscal year,
operating and maintaining the road lias been reduced....
There have been expended upon permanent improvements
There have been paid upon taxes in Illinois and Indiana
.
Increase in ca-li and other available assets during the current fiscal
The indebtedness of the receivers at

52, if (J
19,381
2?,202

for

16,^33

year

$234,0C6

Total....

analysis of the trallic returns will show a substantial im¬
in the general business of this railway, during the
just closed, notwithstanding the continued restriction
upon the business between St. Louis and points beyond Nash¬
ville, duo to the fact that the Nashville Chattanooga and St.
Louis Railway still refuses to receive through freights from St.
Louis for such points from this railway. Every effort has been
made to remove these injurious restrictions upon traffic, but so
far with only partial success.
The indications are that there will be a further increase of the
An

tralfic for the year

OPERATING EXPENSES.

GROSS EARNINGS.

Passenger
Freight

of

provement
fiscal year

St. Louis & Southeastern Railway.

as

The gross

44.017

46 969

$0’2,501

just beginning, but to what extent it

will show

itself, is merely a matter of conjecture. We think we are safe,
however, in saying that the gross earnings will reach $1,200,000,
and the net earnings, at least $300,009, while, at the same time,
the condition of the property will be improved, especially in.:
respect to the renewal of bridges, rails and cross ties.

$166,043

156,457

Net earnings

Compared with the fiscal year ending October 31, 1875, the
gross earning3 show an increase of $5,515, the operating
expenses an increase of $9,082, while the net earnings show an
apparent decrease of $3,567.
There now remain due and unpaid of taxes the following

GENERAL INVESTMENT
Atlanta & Richmond

NEWS.

Air Line—An adjourned meeting ot

There was a
$3,000,000 out of the $4,000,000 of bonds being
represented. The committee which had been appointed at a
amounts:
For the year 1873 (in litigation)
$51,663 previous meeting to draft a plan for reorganizing the road,
For the year 1874 (in litigation).
15,619 recommended the issuing of $500,000 preferred mortgage bonde
For the year 1875 (in litigation)
13,136 at par, the present bondholders to have the first right of pur¬
There remain $67,089 yet due on the depot grounds in East St. chase, and the proceeds to be devoted to providing additional
Louie, and as this amount is secured by deeds of trust on the equipment and to discharging pressing claims. The report waa
property, and as the rate of interest is high, payment should be adopted.
made as soon as practicable.
Atlantic & Gulf.—The consolidated and sectional bondhold¬
During the year, 131 1360-2210 tons of steel rails have been ers had a second meeting in Savannah on the 22d, when, after
laid on this division of the road, and 550 tons of iron rails have hearing Judge Chisholm state the purpose of the bill to appoint a
been re-rolled and will be laid immediately.
receiver, the committee appointed at the last meeting to confer
A careful estimate just completed shows that 500 tons of steel with the bondholders of New York, in regard to the appointment
rails, 1,500 tons of iron rails (re-rolled) and 30,000 cross ties, in of a eo-trustee with Mr. Morris K. Jesup, were discharged, and, at
addition to those already bought, will be required for renewals the suggestion of Judge Chisholm, a committee was appointed
of track superstructure of this division during the next year. to confer with him monthly and examine the returns of the re¬
These materials will cost $54,000, or an average of $4,500 for ceivers, and make such suggestions as they deemed proper in
twelve months, after crediting the account with the value of the behalf of the consolidated bondholders.
old iron rails.
Atlantic Mississippi & Ohio.—Several orders have been
The sum of $48,016 has been expended daring tte fiscal year entered in the United States Circuit Court at Richmond, by con¬
Amoag these is one allowing the
upon permanent improvement of depot giounds in East St, Louis sent of all parties in the suit.
and upon

other property.
KENTUCKY DIVISION.

-i

The




gross

earnings of that part of the road included in

the bondholders was

held at No. 164 Broadway.

large attendance,

receivers each $10,000 per annum for their services, and another
authorizing the receivers to pay coupons of divisional mortgagi $
due January 1, 1877.

[March 3, i&77.

THE CHRONICLE.

204

The English committee of consolidated bondholders has in¬
creased its number by the election of Mr. John Collinson and Mr.
F. A. Harkey, Chairman of the Consolidated Bank. The Dutch
committee has agreed to co-operate with the English committee ;

redemption the outstanding 7 per cent, sinking fund mortgage
bonds, maturing Sept. 1,1896, and to issue a 6 per cent, mortgage
bond, payable 40 years after July 1,1877. These bonds will be
issued either registered or coupons.
The present mortgage
and a joint committee, consisting of two members from each has bonded indebtedness of the Company is $9,000,000 7 per cent,
been tormed, Captain Tyler and Mr. Collinson being selected to bonds, and $1,000,000 6 par cents., and the proposed bonds to the
represent the English committee.
The two committees have amount of $10,000,900 will only be issued to retire and cancel
the existing bonds, thus making this new loan a first lieu upon
already had deposited with them over three-fifths of the bonds.
Atlantic and North Carolina.—This company failed to pay the entire railroad, branches and equipment.
The railroad now owned and operated by tbe Company is
the half-year’s interest due Jan. 1 on the $200,000 first-mortgage
located in the States of Illinois and Iowa, and is as follows:
bonds, which constitute the only funded debt.
There is a pend¬ Main
Line from Chicago, Illinois, to Council Bluffs, Iowa
501 miles.
ing controversy between Governor Vance and the directors.
Branches—Milton to Knoxville, in Iowa
127^
“
South Englewood to South Chicago, Illinois
Boston & Albany.—On Feb. 28, the stockholders of the
8
“
Boston & Albany Railroad approved the leases of the Pittsfield
Total length of Main Line and branches
#636K miles.
& North Adams and North Brookfield Railroads. The Pitts¬
field & North Adams Railroad has been operated by the Boston &

.

The

Company will reserve the right to issue $2,500,000 of this
series, in addition to the $10,000,000, in case it should be deemed
Albany for thirty years, under a lease made in 1846, at an annual
rental of 6 per cent, on the capital stock of $450,000.
The lease necessary to do so, for the purpose of construction of permanent
just now approved was secured by an option clause in the first improvements, branches or extensions of their system of rail¬
lease, allowing the renewal of the lease (for ninety-nine years roads, or in securing arrangements with,, or interests, in connect¬
ing or intersecting roads, and the property thus acquired shall be
for a rental of 5 per cent, on the capital stock.
The North included in this
^Brookfield Railroad is four miles long, and extends from East to the amount ofmortgage. Proposals are invited for these bonds
$8,000,000 up to 12 o’clock M. of Saturday, the
Brookfield, on the Boston & Albany Railroad, to .the town of
No bids under par will be considered, and
North Brookfield.
It has been built and entirely paid for by the 14th day of April.
town and individual stockholders at a cost of $100,000.
The the Company reserves the right to reject any and all bids which
are not deemed satisfactory.
The bonds will be dated May 1,
lease is for a term of ten years from Jan. 1,1876.
1877, and bear interest from July 1, 1877, and full payment on
Boston Dividend Payments.—Mr. Joseph G. Martin, 'Stock the same will be
required to be made to tbe United States Trust
Broker, No. 10 State street, Boston, has furnished his usual
Company of New York on the 20th day of June next, when the
monthly statement of interest and dividend payments, due March bonds will be ready for delivery. The present 7 percent, sink¬
1, 1877. The total amount of dividends and interest announced
ing fund bonds will be received in payment of bids for this new
for payment at Boston in March is $3,005,103.
Mr. Martin says : loan at the rate of 5 per cent, premium and accrued interest to
The Eastern Railroad Company pays the first coupon on its hew
certificates of indebtedness,’ dated September 1, 1876, and thirty July 1,1877, that being the price at which the Company have
reserved the right to redeem them.
These bonds bear gold interest at the rate of 3£
years to run.
Delaware & Hudson.—Following up the unfortunate mistake
per cent, the first three years, then 4£ per cent, three years, and
of last week, by which an order to show cause why a receiver
after that 6 per cent, until maturity in 1906.
The total of old
debt converted to date is $11,796,000.
The Essex Railroad 6’s, should not be appointed was inadvertently granted by one of
due September 15, 1876, and guaranteed by the Eastern, have the Judges in this city, the motion is to be renewed on March
No great weight should be attached to the allegations of a
been extended twenty years, and the coupons are now paid March 5.
15 and September 15, instead of January and July, as heretofore. complaint in a suit like this, until some proof has been given, and
Interest due March 1 on $477,000 Chicago & Michigan Lake Shore it is hardly worth while for us to take notice of them.
8’s of 1889 will be paid at No. 26 Sear’s Building. These bonds
Erie.—A general meeting of the Erie Railway share and bond
sire a first mongage on the first part of the road from New Buf¬
holders was held in London Feb. 8, Sir Edward Watkin presiding,
to hear a report from the reconstruction committee as to the prog¬
falo to St. Joseph. All other bonds of this road are in default.”
'Central of New Jersey—Lehigh & Wilkesbarre Coal.— ress of the railway. Sir Edward Watkin addressed the meeting
At a meeting of the directors of the Central N. J. Land & Im¬ at some length, urging immediate action by bond and share holders
in supporting the scheme.
The scheme is in respect of the 1st
provement Company, the following resolutions were unanimously
consolidated bonds, that six coupons which fell and fall due on
passed:
Resolved, That the officers of the company be directed to have all the lards September 1, 1875, March 1, 1876, March 1, 1877, September 1,
•of the company mapped, divided into lots of convenient siz°e, and carefully
1877, September 1, 1878, and Sept. 1, 1879, are funded, and four
valued, with a view to offering the same to the stockholders at an early day.
coupons paid in cash, falling due Sept. 1, 1876, March 1, 1878,
Resolved, That the services of experts in real estate at the different points be March 1, 1879, and March 1, 1S80. The
payment of the Sept. 1,
-obtained with a view to the best possible valuation; and that the values of the
land prices at which stock will be taken in payment be so adjusted as to i 1876, coupon was postponed to March 1, 1877, and is now further
secure as well he interests of those who retain their stock as of those who
postponed. It was resolved: “That this meeting, having heard
may sell ont.
f the steps taken and the progress made in the reconstruction
Resolved, That the maps, when prepared, be lithographed for distribution
! scheme, expresses its continued confidence in the reconstruction
among the stockholders, in order to facilitate the selection of parcels.
—The Post of March 1, says; “The Lehigh & Wilkesbarre trustees, and urges all bondholders and share holders to sup¬
port them by sending in their coupons and bonds as required, and
Coal
Company is not paying the quarterly interest due to-day.
The condition of the bond account of the company under the by paying the assessment on their shares.”
Jacksonville Pensacola & Mobile.—This road, extending
$15,000,000 mortgage i9 as follows:
from Lake City to the Apalachicola River-in Florida, and from
Bonds reserved to cover issue under the $10,COO,000 mortgage
(called sterling loan) outstanding
$l,681,0f0 Tallahassee to St. Marks, Fla., and all the property of the com¬
Bonds reserved t<> c >ver prior liens
1,716,400 pany, real and personal, is noticed for sale by the Governor of
Bonds issued
11,500,0C0 Florida, at Tallahassee, on tbe 4th
day of June, A. D. 1877. The
“

*

notice of sale concludes as follows ;
“
It being understood, and notice

$14,897,400

being hereby given, that the
the
Im¬
provement Fund of the State of Florida, for the unpaid purchase
was made.”
money due for eaid road.”
Chicago Danville & Vincennes.—Judge Drummond, at Chi¬
Kent County.—This road was sold by the trustees at Chestercago, Feb. 26, announced the decision confirming the Master's
town, Md., February 15, under a foreclosure of first mortgage
'report of the sale of this road.
bonds. It was bought by Judge John Bingham, of Philadelphia,
Chicago & Northwestern.—The following is from the Com¬ for $33,450.
pany’s report in the State of Iowa, for the calendar year 1876 :
Nebraska State Bonds.—Notice is given by the State Treasurer
The number of miles of road operated in Iowa by the Chicago
that under the act of Feb. 14, 1877, the coupon bonds of the State,
& Northwestern is 332.
The earnings and expenses of the
to the amount of $566,369, payable twenty years after April 1,
three divisions were as follows :
1877, with interest at 8 per cent, per annum, payable semi-an¬
Cedar Rap.
Chic., Iowa
Iowa
& Neb.
nually on the first day of October and April of each year at the
& Missouri.
Midland.
Passenger
$224,562
$569,069
$35,968 Treasury of the State, have been ordered issued. From this
Freight
828,140
1,386,485
62,7*5 amount, the permanent school fund will take up $413,000 or there¬
Exoress
20,056
35,093
2,8 '4
abouts; the remainder thereof, amounting: to nearly $153,000, will
Hail
22,395
75,188
3,7^3
Miscellaneous
be offered for sale to the highest cash bidder until March 31,1877.
905
3,o75
140
No bids will be entertained for a less sum than $1,000—nor for
Total
$1,096,060
$2,069,113
“

This does not include the

purchase money mortgages, which,
understand, amount to nearly $1,000,000 more, and which con¬
stituted a lien on tbe property before the $15,000,000 mortgage

said road, property and franchises will be sold subject to
vendor’s lien, held by the board of trustees of the Ioternal

we

~

-

'Operating

$105,5l3

542,982
39,094

expenses

Net earnings—:
Interest on bonds

The gross

earnings of the entire line of the Chicago

western road

•Passenger
Freight
*

Express
Mail

-Miscellaneous.

1,419.678
16,403

were as

follows

:

less than par.

104,8b7
...

.

New Orleans St. Louis & Chicago.—An adjourned meeting

103,000 I of the bondholders of the
Mississippi Central and New Orleans
& North Jackson & Great Northern Railroads was held in the office of the
Illinois Central Railroad Company, No. 31 Nassau street, this
Both toads are under foreclosure, and are soon to be
$3,141,418 week.
6,704,231 sold.
The two roads connect, forming a continuous line between
253,850
291,158 Cairo and New Orleans. An authorized representative of the

English bondholders

present at the meeting, having arrived
days previously. In all, $5,600,000 were
Total
$12,467,542
On motion, a committee consisting of J udge Emott,
'Operating expenses
6,473,813 represented.
The deficit oh the Midland branch was for 1875 $97,836, show¬ W. H. Osborn, W. H. Macy, and J. B. Alexander were appointed
to draft a plan for the purchase and reorganization of both
ing an increase of deficit for 1876 of $9,514.
railroads under one management in the interest of the
Chicago Bock Island & Pacific.—This Company have bondholders, and to report at a future meeting. The meeting
^decided to avail themselves of the reserved right to call in for then adjourned.




76,853

in this country two

was

Ma ch

3, 1877.]

205

THE CHRONICLE.

€!k Commercial (Rimes.

COTTON.
Friday* P. M„ March 2, 1877.

^COMMERCIAL EPITOMeT
I

Night, March 2, 1877.
little variation from last week, in the state of trade,
but whatever changes may be noted are tor the better.
The final
-

riday

There is

adjustment of the controversy which lias long been going

on

the result of the late election for President and Vice-Presi¬
dent of the United States, affords much relief from anxiety in
mercantile cirfcles, whatever may be thought of the result, or of
the means by which it was reached. The promise of an early
over

spring continues.
The following is a statement of the stocks of leading articles
of domestic and foreign merchandise, at dates given:
18713.
Mch. 1.

tcs. and bbls
bbls.

Beef
Pork
Lard
Tobacco, foreign
Tobacco, domestic

1877.
Feb. 1.

6,310
46,623
33,1^6
21,-474
21,023
11,632

9,7i8

27,643

tcs.

bales.

Coffee, Rio

hhds.
bags.

Coffee, other
Coffee, Java, &c

mats.

16,098
29,530
196,283
39,312
133,452

bags.

Rice, E. I
Rice, domestic

...

Linseed

Saltpetre
Jute

Jute butts
Manila hemp
Sisal Hemp
some

19,900

1.737

8,750

802

475

6,872
14,000

934

1,233

12,500
111,100

No. 115,200
bales. 16*,'00
bbls. 60,315
....bbls. 3,713
bbls.
2,420
8.500
...bags.
f...bbls.and tos. 2,750
bags. 257,600
bags. 14,0)0
bales. 14,7 0
bales.
3,200
bales. 63.053
6,472
bales.

recovery

bales, against 88,068 bales last week, 120,720 bales the previous
week,and 140,006 bales three weeks since, making the total receipts

1876, 3,571,507 bales, against 3,491,142
of 1875-6, showing an increase since
Sept. 1, 1876, of 80,365 bales. The details of the receipts for
this week (as per telegraph) and for the corresponding weeks of
five previous years are as follows :
since the 1st of September,
bales for the same period

1817.

Receipts this week at—

1873.

1874.

1875.

1876.

37,051
9,503
3; 823

26,545
5,764

234

232

1,049

4

3,530
6,059

5 193

11,143
7,293

11,-32

7,933

73

202

214

..

5 253

6 601

8,861

7 704

3 603

45)

3,707

Port Royal, &c.
Savannah

33,635
6,301

6,803

5,793
9,481

3),888

Charleston

42,567
4,341

38.093

6,871

4,343

New Orleans
Mobile

1872.

j.

24,500

bbls.
.

.-

55,479

hhds.

Molasses, domestic

Spirits turpentine

9.603
3,340

hhds.

MeTado
Molasses, foreign

Rosin

450

3,141
5,S80

bags, etc.

Sugar

Hides
Cotton

275

hhds. ; 15,784
boxes .* 6,301

Sugar...
Sugar

There is

6,113
49,522
44,127

23,833
18,162
20,161
7,198
16,200
1,115

bags.

Cocoa

Tar

1877.
Mch. 1.

Thk Movement of the Crop, as indicated by our telegrams
from the South to-night, is given below.
For the week ending
this evening (March 2), the total receipts have reached 68,615

11,350
19,30.)

1.796
6,250

5,700

2,810
155,700

1,820

133,200

5,00)

4,400
4,100

4,600
1,100

800

26,044
Not stated.
a

34,019

8,29) l

12,260

9,416

8,3 6

5,279

7,317

306

115

179

404

112

502

North Carolina

1,947

1,434

939

6.018

2,328
5,995

604

Norfolk

1,595
7,753

11,871

8.522

5,553

City Point, &c

1,362

502

471

671

247

380

63,615

86.2*5

77,263

95,464

82,307

73,702

Total since Sept. 1.... 3,571,507 3,491,142 2,991,527 3,146,149 2,793,164

2,214,058

Tennessee, &c

10,178

Florida

Total this week

286,267
58,226
4,311
2,163

3.895

in pork and lard, with

Indianola, &c

152.500

260,280
54,316

-

Galveston

The exports

,

for the week ending this evening reacti a total of

57,307 bales, of which 40,523 were to Great Britain, 4,233 to
France, and 12,551 to rest of the Continent, while the stocks as
made up

this evening are now 872,495 bales.
Below are the
for the week, and also for the corresponding

stocks and exports
week of last

season:

5,000
Exported to

moderate

speculation for higher prices, but in other hog products the mar
ket was weak and irregular.
To-day, much of the previous im
provement was lost, under a decline at the West. Mess pork
sold to the extent of 500 bbls. for May, at $15 65@$15 70. Lard
sold on the spot at $10 25 for prime Western, and closed at
$10 80 for April, $10 40 for May, and $10 55 for June. Bacon
sold at 8£c. for Western long clear.
Butter is very dull. Cheese
is firm at 10@lGc. for common to choice.
Tallow has declined to
7£@7fc. for good to prime.
Kentucky leaf tobacco has been more active, the sales for the
week aggregating 800 hlids., of which 600 for consumption and
200 for export
Prices, however, were irregular, the range being
extended, and lugs quoted at 4£@7|c., and leaf 8@16c., as in qual¬
ity. There has also been a goQd movement in seed leaf, and the
following are the sales reported: 200 cases sundries, 4^@25c.;
319 cases New England, crop of 1875, 8@20c., and p. t.; 200 Penn¬
sylvania, crop of 1875, p. t.; 56 cases New York, crop of 1875, p.t.;
40 cases Ohio, crop of 1874-5, 8c.; 50 cases Ohio, crop of 1875, p.t.;
44 cases Wisconsin, crop of 1873-5, 9c. Spanish tobacco in mode¬
rate demand, with sales of 500 bales Havana, 80c.@$l 10, and

65 bales Yara 1 and 2 cuts, 90c.
In groceries very little of special interest has transpired
during
the past week ; sugars have declined a little* but the demands
have continued on the same small scale.
Molasses and rice have
remained quiet, with the former showing some easiness.
In
Brazil coffee a fair trade has latterly been done at steady figures ;
mild grades have sold fairly in a jobbing way.
To-day, Rio
coffee was quiet but firm at 17±@22c., gold ; 18,100 bags arrived,

Week

ending

March 2.

Great

Britain.
New Orleans*....
Mobile

17,793

Charleston

12,654
3,-159

Savannah

this

nent.

week
1876.

4,165

Other ports$

1,994

•

•

•

•

4,961

51

2,045

12,551

57,307

146,756 872,495 778,229

2,580

757

....

40,523

1876.

509

•

•

2.36

•

•

757

•

4,233

•

5,710

•

....

....

•

12,664

....

•

•

1877.
,

58,852 308,954 350,739
17,418 71,884 59,723
17,353 35,274 29,929
2),867 45,185 48,172
13,838 70,880 54,598
15,035 287,372 168,839
2 2
7,946 18,224
3,091 45,000 48,000

31,170

9,440

3,937

•

Stock.

Same

week.

Conti¬

France

•

Galvestont
New York
Norfolk.

Total this week..

Total

•

•

•

Total since Sept. 1 1,607,321 332.695 287,110 2,227,126 2.244,812
*
Atew Orleans.—Our telegram lo-mgtic from wew Orleans snows tnat (beside*
above exports) the amount of cotton on shipboard and engaged for shipment at
that
port is as follows: For Liverpool, 32,250 Dales; for Havre, 27,500 bales; for
Continent, 7,750 bales; for coastwise ports.no bales; which, if deducted from
the stoclc, would leave 241,500 bales, representing the quantity at the landlngand in
presses unsold or awaiting orders.
t Galveston.—Our Galveston telegram shows (besides above exports) on ship*
board at that port, not cleared: For Liverpool,9,862 bales; for other foreign,
1,030 biles; for coastwise porta, 1,047 bales; which, if deducted from the stock,
would leave remaining 58,941 bales.
t The exports this week under the head of “other ports’’ include from Balti¬
more, 337 bales to Liverpool and 51 biles to Bremen; from Boston, 1,556 bales to
Liverpool; from San Francisco, 101 bales to Liverpool.
•

m

•

•

•

•

•

•

From the foregoing statement
with the corresponding week of
in the exports this week of 89,449

it will be seen tliat, compared
last season, there is a decrease
bales, while the stocks t<f-nigh&
are 94,268 bales more than they were at this
time a year ago.
The following is our usual table showing the movement of cotton
Mild grades quiet at 18£@20c. for at all the ports from Sept. 1 to Feb. 23, the latest mail dates:

making supply 38,979 bags.
Maracaibo and 22@24c. for Java, both gold. Molasses quiet; New
EXPORTED SINCE SEPT. 1 TO—
RECEIPTS
CoastOrleans, 40@56c.; 50-test Cuba refining, 33c.
Rice steady at
SINCE SEPT. 1.
wise
Stock
PORTS.
Other
Great
4f@6ic. currency for domestic, and 3£c. gold for Rangoon, in
Total. Ports.
France
forei’n
Britain
1876.
1875.
bond. Raw sugars dull and weak at 9£@9£c. for fair to good re¬
fining Cuba; refined sold at life, for hard grades.
98,610 512,487
N. Orleans. 1,000,852 1,113,317 477,511 229,322 93,956 800,789
There has been a better business ia ocean freights, both berth
331,252 316,678 101,075 14,406 34,304 152.785 113.695 69,136
Mobile
and chartering description; rates were irregular at first, but
437,744 367,481 187,001 39,935 60,4)6 287,48 2 91,195 44,781
toward the close showed more firmness and a slight advance. Charlest’n *
49,578
437,977 471,352 199,377 14,742 29,515 243,631 110,423
Savannah
Late engagements and charters include : Grain to Liverpool, by
73,277
Galveston*. 467,257 408,749 165,952 22,250 22,417 210.619 191,635
steam, 4f@4fd., cotton fd., provisions 27s. 6d@32s. 6d ; grain, by
278,852
5,144 13,160 249,944
New York..
109,436 147,200 231,640
sail, 4fd., cotton fd.; grain to London, by steam, 6 1.; do. to Bris¬
18,976
Florida
18,976
11,254
tol, by steam, 6d.; do. to Hull, by steam, 5£d.; do. to Cork for
75.857
32,9.7
1,011 10,606
6,134
113,813
N. Carolina
21,310
83,755
orders, 4s. 9d. per qr.; do to Copenhagen, 5s. 6i.; refined
9,903
1,221 107,147 363,393
487,009 409,392 104.324
1,602
Norfolk*
petroleum to the United Kingdom, 4s. 4£d.; do. to Cork for
64,4)2
29,030
8,834
Other ports
75,743
75,698
98,571
orders, 4s. 6d.; do. to Bremen, 3s. 3d.@3g. 4.j-d.@3s. 7|d.; do. t©
Bremen or Hamburg, 3s. 9d.; do. to the Baltic, 4s. 6d.; cases to Tot. this
1566,793 323,462 274,559 2169,819 1063,334 873,146
yr. 3,501,892
Corunna, 27£@30c.;do. to Messina, 25c.; crude petroleum to Havre
Tot. last vr.l
3,401,917 1356,288 283.257 453,501'2098,056 936,422 853,232
or Bordeaux, 4s. 6d.
To-day, business was fairly active and rates
Under me ueau or (Juariesioa is included fort .ttoyai, ose.; under the head of
show a further slight improvement; grain to Liverpool, by steam,
Gafpestottia Included Indianoia.&c.; under the head of Nur/olt is included City
4^d., cotton fd ; do. by sail, fd.; grain to Glasgow, by steam.
Tliese mail returns do not correspond precisely with the total of
5d.; do. to Cork for orders, 4s 9d @4s. lO^d. per qr.; refined
the telegraphic figures, because in preparing them it is always
petroleum to Cork direct, 4s. 4£d ; cases to Trieste, 30c., gold.;
refined in bbls. from Baltimore to Bremen, 3s. 7£d @3s. 9d.
necessary to incorporate every correction made at the ports.
The market has remained quiet for cotton on the spot.
Naval stores have been quiet and easy, until the close, when
The
decline noted in our last was supplemented by a further reduc¬
more activity was noticeable and figures firmer at 39^tJ40c. for
spirits turpentine, and $1 95@$2 for common to good strained tion on Monday of £c., to 12fc. for middling uplands—the lowest
rosin.
Petroleum shows farther declines and but little business; figure in several months.
This concession was followed by
crude, in bulk, 10@10£c., and refined, in bbls., at 14f@14|c. rather more business for home consumption, and something was
Hides have latterly said fairly, and no farther changes can be done for export, but not enough in either case to disturb the
noted. In oils there was a reported sale at Boston of 1,800 bbls. prevailing inactivity.
The concentration of stock at this point
crude sperm, on private terms. Ingot copper steady, with 200,000 still continues, although a large portion of the receipts here are
lbs. Lake sold at 19f@19Jc.: other metals quiet. Whiskey closed on through bills of lading for transhipment to spinners or to
at $1
Other markets.
Yesterday, a material advance in tue Liverpool
11, tax paid.



..

....

•

•

•

•

•

•

•

....

...»

....

..

....

*

...

01.1

[March 3, 1877.

CHRONICLE

THE

206

04.13
02.4c89-312'.
market was reported, and our quotations recovered |c. To-day,
the advance of yesterday was maintained, but the market closed
Hat. For future delivery, prices gave way rapidly in the course

bale*.
400.,
70 J.,

of

Dale*.
300.
400.

134,100 total May.

Saturday and Monday. Weak operators for a rise, whose
margins were wholly or nearly exhausted, continued to be sold
out; and, under these circumstances, although receipts at the
ports and at the interior towns of the South were comparatively
small, the market failed to rally.
On Tuesday, however, a
demand io cover contracts, and a slight improvement in the
statistical position of the staple, gave an upward course 10
prices, which was continued to Wednesday morning, but the
early improvement on the day was lost in the afternoon, and the
close was without material variation from Tuesday.
Yesterday,
at the opening, operators were somewhat confused by the opera¬
tion of the new rule requiring transactions to be made on the
basis of decimals—or cents and mills per lb.—instead of cents
and the vulgar fractions thereof, as heretofore; and it was foundconvenient to post up a table showing what relation the vulgar
fractions of a cent have to its decimal parts.
There was, how¬
ever, a smart advance of about |c. for the early aud 3-lGc. for
the later months.
To-day, the market was feverish, aud prices
receded about 10 mills from yesterday’s advance, owing to sales
to

realize.
The total sales for forward delivery

for the week are 449,700

free on board. For immediate delivery the
total sales foot up this week 3,407 bales, including 431 for ex¬
for speculation, and
port, 3,030 for consumption,
in
Of the above, 300 bales were to arrive.
transit.
The following
tables show the ollicial quotations and sales lor each day of the
past week:
bales, including

New Classification.

Ordinary
..$ ft. :o 13-16 10 11-16 10 13-16 10 11-16 10 15-16 10 13-16 10 15-16 10 ,3-16
11 3-16
11 1-16
11 5-16 11 3-16 11 5-16
i: 3-:6
11 1-16 11 3-16
Strict Ordinary
.

Good Ordinary
Strict Good Ord’ry.
Low Middling
Strict Low Middl’g

i1 7-16 11 11-16 11 9-16 1! 11-16 11 9-16
! 1 9 16
11 9-16
11 7-.6
11 13-16 11 11-10 11 13-16 11 11-16 11 15-16 11 13-16 11 15-.6 11 13-16
!2
12
12
12%
12
•2%
11%
:1%

Middling

12%

;2*

Good Middling
!2%
Strict Good Middl’g 13

12%

:2%

13%

”2*
13*

13

14'4

.4

Middling Fair

Fair

...

12 %

13%
14%

Feb.27. Feb. 28

Middling

13%
14*

14

13%
14*

13

11%

11%

12*
12%
'2%

'

13*

14

Tli.

'4

12*

i3%

13%

13%

14*

14%

14%

FrI.

t0 13-16
11 3-16
11 9-16
U .3-.6
12

13

13

Middling Fair...... i 3%

13%

13%

"4

14 *

:»%

13%
14*

1'4

2*

13

-

lb. 10 13-16 :0 13-16
Strict Ordinary
11 3-16 11 3-16
* 9-16
.1 9-16
Good Ordinary
Strict Good Ord’ry. 1' 13-16 11 13-16
Low Middling
2
12
Strict Low Middl’g 12*
12*
12*
Middling
12%
Good Middling
12*
,1‘v*
Strict Gocd MiddPg 13
3

Ordinary

,12
'12*
12%

13

"s

:

!

2%

3

!3

15%
14*

FrI. ! Tli.

12

l.'jMch. 2. Mch. 1.

112*
|*2%

112%
j!2%

'12%
|12%

12%
13*

12%

12%
12%
13%
13*

12*

l-%

13%
13%
! 14 *

13 ^
4*

Strict Good Ordinary
Low Middling

ilO

1

!'0

i

Middling

AND

RALES OF

Ex¬

port.

Consump.

111%
ill*

Dull, unchanged.
Dull, lower
Steady, unch’ged
Wednesday Quit t, firm
Thursday.. Same, higher..

AND TRANSIT.

Spec-! Tran !

ulat’nl

•

.

...

Dull, easier.......

Total

267

.

•

431

.

..

Friday..

361

..

.

•

•

•

....

1,125

....

372
413
428

.

t

....

431

For

Febiuary.

bales.

FLJTITRES.

j’

..

....

....

.

i

....

....

.

-

j

267

!

....

1

1

Deliverie>.

Sales.

lotal*

sit.

1,559

:

372
413
498

..

,

3,167

330
400
300

62,900
88,800
82.000
6 1,900
63,100
S6.600

4!9,700

....

3.036

SOU
..12%
2(>0 s.n. 2sth*.'12%
609
12 5-32
299
12 3 32
61W
1J *32
lUOs.n.... 12 7-32

cts.

6 *0 s n 1st .12 r-16

ct<».

200

s.n.

8T03
700
100
lib

3d. 12 5-16
12 11-32

12%
12 .'6

5 h. ,!2 36
12 37
«0sn. 3d ..12 37
2 0
..12 99
S n.

6T i

2.000 total Feb.

2,-0
For March.
300 8.n. 1st...12%
200
12%
CWf.n. 1st.12 5 Si
100 no notice to-dav

(27th)
3,200
2,000
2,800

?d"0

iv*

200 s.n. 1st.12 9-3
8)0
12 1-3 J

5,300.




...12 5-16

12-41

1,2 *>....
-

09
ICO

200
70 »
260

p n.

1(0

12 5-12
12 5-32
12 3-16
12%

100 s.n. 1st...12*
ICO s.n. 2d. ...12*
100 s.n. 3d....r<*

1.-40

fOO.

S.U

14*41
12-45
12 49
UM9
12 59
5t.fi.. 1‘2 51
6th.. 12-51

23,800 total March.
For April.

,l(f)

:..12%
12 13-82

11,590

12 ’5-32

l,r-ttJ
4

9,400..‘

1,200
1,100
8(0

36t

La'es.

cti.

For
bales.
t 7 H9
2.600

30,203
11,'Oil

12%
12 17-82

10.500

>2 916

0,300
4,200

12 19-12
12%

610
L‘00

12 59
12-6

2

600

1,400
800

3,8 0

12 29-32

12 15 16

3,200
1,300.

13-07
13 08

*3.(00

.12 31-32 !

13

4,800

13 1-32

2.900

S,8 0

12-61
!2-*2

! 1.700

5,300
2.306

12%
12 21-32
12 11-16
12 23-32

.

.00

"...
-

13.400
3,8 '0

12 63
12-64
12 65

3,610

12 G6

1,860
1,‘JOJ
5,060
3,6(0

12 67
12 eg

4,360

1.160.
3 8jU
5

2JJ

12-73
12 74
...12*75
...12*76

12 7-16

899

1,709

12*

1279
12 8)
12 SI
)2 32
12-83

1 6 •('

2,TIT

2,000

12-81

<LHI0

...12 85

1,790
1,8 VI
2,60)
4,160.
6.001;
4.190

2.9.0

If 1990 total Apr.},

...

12 2’ -32
.12 -3-15
12-73

6,2'Hi

2,6 0
1,16.0

12 9-16
12 19-32

6,0)0

3.21 X)
2.8.4'

12%)
; J - :o
1-2-71
12 7 i

cts.

1,7(0

.

12 S?
12 37
12-88
12-89
12 90
12 91
1291
12'f 3

...12 47

•

..12 23-82
12%

.

,

12-Sd
12-90
12-91
12-92
12-93

iade

following exchanges have been

5,490 total Dec.

during the week

:

AC. pd. to exch. 200 March tor April.
pd. to exch. 100 April lor A’ay.
p i. to fsxeu. 3UU March s. n. lor April.
Ac. pd. to exch. 100 Ma ch for April.

The
future

following will show the closing market prices bict for

delivery, at the several dates named
Frl.

Market closed Active.
lower.

Easy.
lower.

lower.

February...

12%

13%

12 3-16
12 7-32
12%
12 11-16
12 13-16
12 15-! 6
12 31-32
12 23-32
12 7-16

12 9-32
12 9-32

i ik
13*

March

...

12%

12 5-16
12 9-16

...

April
May

...

June
...

...

....

32 31-32
13 1-32
12 27-32

...

...
...

:

UPLANDS—AMBRIOAN CLASSIFICATION
Tues.
Wed.
Thura.
Mon.
Sat.

Gold.

Exchange..

Easy.

Steady, Steady.
Steady,
higher. unchanged. higher.
12*
..

•

12%
12 9-16
12 11-16
12 21-32

12 13-16

12%

•

n

•

105%
4-b’.%

104%
4.61%

12%

*

lower.

ra

12 9-32

12-45
12-66
12*86
13-00
1S ’ 10
13 15
12 89
12-59
12-43
12-43

104%
4.81%

104%

R’4*

4.81%

4.t2

12 11-16
12 27-32
12 1S-.6

12 2-3»
12 9-32

®

Frl.

Steale,

12-43
12-74
12-94
13-03
13-13
13*23
L-96
12*69
12-49
12-19

12%
12%

12 11-16
12 13-16
12 22-32
12 31-33
12 V

12 5-15
12 5-o3
12 b-32

4.51%

•

12*
12%

12%

105

13

12*
12 7-16
12 9-52

The Visible Supply

op Cotton, as made up by cable and
follows. The continental stocks are the figures
of last Saturday, but the totals for Great Britain and the afloat
for the Continent are this week’s returns, and consequently
brought down to Thursday evening; hence, to make the totals the
complete figures for to-night (Mch. 2). we add the item of exports
from the United States, including in it the exports of Friday
only:

telegraph, is

as

1875.

1874.

733,000

63,000

GS2,0O3
120,750

188,750

927,500

922,000

802,750

921,750

153,750
3,5.00
59,000
12,500
47,750
65,500
10,000
6,750
10,750

226,503
4,500
72,000
20,500
43,500
45,000
16,750
13,250
13,500

114,750

143,250

372,503

458,503

303,003

380,000

1,SU0,COO

1,380,5 0

1,111,750

1,301,750

169,000
694,000
Egypt, Brazil, &c.„afloat for E’rope 38,000
Stock in United States ports
872,4V5
Stock in U. S. interior ports
101.075
United States exports to-day
5,0(0

124,000
595,000
50,000

287,000
659,000

190,000
587,000

67,000

88,060

778.229
122 836

736,960
108,277

757,047
131.630

24,0C0

7,000

25,000

.baies.3,039,57 0

3,074,625

2,976.987

3,060,427

592,00G
287,000

461,000
271,000

338,000'
192,000

604,000
872,495

5

101.075

5,0C0

122,696
24,000

375,000
127,000
659,000
736.960
108,277

7,000

ms,000

bales.2,461,57.)

2,275,125

2,013,237

2,030,677

375,000
63,000
187,500
124,000

307,000
120,750
182,000
287.000

50,000

67.000

799,500

963,750
2,013,237

1,049,759'

2,275,125
3,074,6-25

2,976.987

3.080.421

1876.

1877.

Stock at Liverpool
Stock at London

895,000

at

Barcelona
...

.

Stock at Antwerp^
Stock at other continental ports..
,Total continental ports

European stocks.

859,000

32,500

Total Great Britain stock.....

Total visible supply..

.

•

8,750

11,000

66,750
10,759
32,250

38,000
20,000

45,250

11,500
6,000
13,000

32.250

6G,000
25,250
17,250
27.000

American—

Liverpool stock
Continental stocks
American afloat to Europe
Or.ited States stock

United States interior stocks
United States expoits co-day
Total American

'5,000

778.229

587.000
757.047
13 beso¬

East Indian, Brazil. dbc.—

Liverpool stock

May.

13,900
7.501)

12%
....12 27-82
,...12 13-16

12*

109

.

For December.
9(H)
12 3-16
100.
12 7-32
600.
12%
12 9-32
2,800.
300.
12 11-32
100.
12-40
200.
12 44
109.
..’.2-45
HO.
12 46
200.
12-48

12%
...12 1I-.6
...12 25-32

100.
490
100
400.
100.
100.
300.
900.
800.

12 27-32

1,2(0

..

September.

100
500.
St-0

August.

For

5.500 total Oct.
For November.
1,109
12 9-32
1,100
690
300
ICO

1,0(0.

1,300

12 17-32
12 9-16
...13-65
....I8 60

3,200 total Nov.
I

13*05
13 06

The

For

22,300 total July.

13*01
13(2
...A3 (3
13 04

.12)4

100
900
2(0
‘20J

,

13

,

His

12 13-82
12 7-16
15-32

200

32,2(10 total Aug.

India cotton afloat for Europe....
American cotton afloat for Europe

For forward delivery the sales (including
free on board),
have reached during the week 449,700 bales (all middling or on
tbe basis of middling), and the following is a statement of the
sales and prices:
bates.

1.900
1,' 00
910...

Total

SALES.

.

Saturday
Monday..
Tuesday

1,500

October.

2,300

13-22
3 23
13-21

2C0.

.13 17
13-18

Stock at Rotterdam

10 7-16in 1-16

iu%
■ii%

!i *

SPOT

Spot Market
Closed.

j

0 5-16 10 7 16
5-16 ;10 5-16
1
:5-;t; 10 15-161 0 15-16 i; i-io

Hi*

j i%

.7JO

Stock at Bremen

j

11 *

MARKET

3.003

Stock at Amsterdam

|Mon.

7-16
11 1-16

,

12 91
.12 93
...12 91
12 95
1296
12 97
12 98
1299

Stock at Hamburg

14*

Sat.
Th.
Tues! Wed
FrI.
l'eb.21. Feb.26. ! Feb.27. Feb 28. Mch. 1 IMch.2.

| 10

....

Stock

i

Good Ordinary

300
100

400

800.
200.

1,200...
1,109...

1,000...

1,000.

13.04
1305
13*4 G
3 09
.13-12
13 14
13-15

..

Stock at Marseilles

STAINED.

I

12 15-16
12 31-32

...

6J0

JFor
400
100

1317
.13 19
13-19
1S-20
.......13-21

1,100.
...13

..

Stock at Havre

' 12%

12%

112*
2%
13*
13%
114*

1.200...

...12 15-16

FrI.
Mch. 2.

10 13-161 0 15-161,0 15-16110 15-16 0 15-16
11 3-.C ill 5-16 ! 1 5-16 ill 5-16
11 5-16
11 9-16 111 11-16;tl 11—16*11 11-16 U 11-16
11 13-16 11 75—1C 11 15-16
1 15-.6 tl 15-16

12*
12%
!2*

12%

!

TU.

Mch. 1. Mch. 2. Mch.

Mch. 1. Mch. 2

12*
12%

12*

Tli.

FrI.

12

:i

2%
2%

12*

,,.12 '29-32

6(0.
100
100.

ct*,
.12-94

5.100 total Sept.

18*

13 03
13 11
1312
13-13
13-14
1316

1,010.

2 200...

October....
November..
Decembar.

}3%
14*

12

.

12*
'2%
12%

*>

•

12*

September.

13
,

800...
1,900...

2,800...
4,200...
1,800...
1,200

..

..

400.
200.
200.
200.
600.
390.

1,000...

12 23-32
12 V
12 25 32
12 13-16
12 27-32

August.....

12%

i!4*

•2%
2%
13*

12*
f %

12*
12%
13*

12

11%
12*

il%

2%
12%

2,160
3,700...
3,500...
9,890...
7.309...
1,90 )
5,200...
8,500...
1.000...

July

11 3-16
’.1 1-16
11 3-16
11 3- 6
11 3-16
tl 1-16 11 1-16
li 1-6
li 9-16
11 7-16 11 9-16
ll 9-16
11 9- 6
I! 7-16 11 7-.6 11 7-18
■1 11-16 11 11-16 11 11-16 il 11-1-9 11 13-13 11 13-16 11 13-16 11 13-16

Good Midd mg
Strict Good Middl’g
Midd ing Fair
13*
Fair
14

Fair

12*
12%

12%
12%
2%
13%
13*.

12*
12*
12*

0 11-16 ’.0 11-16 iO 13-16 10 13- 6 !0 13-16 10 13-16

ft. 10 11-16 10 11-16

Strict Ordinary
Good Ordinary
Strict Good Ord’ry.
Low Middling....
Strict Low Middl’g

12%
12%
12*
3%

Tucs Wed Tucs Wed. Tues Wed.
Feb.27. Feb.23. Feb.27 Feb.23 Feb.27 Feb..8.

Tucs Wed

Ordinary

12%
2%
12*
12%
.3)4

12*
12*

2%

For June.

200..

bale*.
500..

Ct*.
.13 1-16
....13 8-82

3,900.
3,6 XJ.

For July.
600...
.12 2>82

MIDDLING

Sat. Mon.
Sat. Mon. Mat. Mon. Sat. Moil
Feb.21. Feb.26 Feb.21. Feb.26. Feb.21. Feb.26. Feb. 21. Feb.26.

bales.

eta.
.1309
.ia-io

67,200 total Jane.

TEXAS.

N. ORLEANS.

ALABAMA.

UPLANDS.

ct*.

.12-91
.12 96
12 98

London stock
Continental stocks
India afloat for Europe

Egypt, Brazil, &c., afloat
Total East India, &c
Total American
Total visible supply
Price Middling Uplands.

303,000
32.500
85.500

169,000
38,000

628,000
2,461,570

bales 3.089,570
Liverp’l. 6 ll-10d.

6 1-16d.

395,000

188,750'
188.000

190,000
88,000

2,030,677

7%®S(i.

These figures indicate an increase in the cotton in sight to-night
of 14,915 bales as compared with the same date of 1870, an.
increase of 112,583 bales as compared with the corresponding
date of 1875, and an increase of 9,143 bales as compared

with 1874.
At the Interior Ports the movement—that is the
atfd shipments for the week and stook to-night, and

receipts
for tbe
corresponding week of 1875—is set out in detail in the following
statement:

<

Week ending McU.

2, 1877.

Receipts. Shipments. Stock.

Augusta, Qa.......
Columbus, Ga
Macon, Ga
Montgomery,
Selma, Ala

Ala

..

Memphis, Tenn....
Nashville, Tenn...
Total, old ports.

...,

Vicksburg, Miss....
Columbus, Miss....

Eufaula, Ala. (est.)..
Griffin, Ga
Atlanta, Ga
Rome,

661
575
179
239
6,727
634

11.294

1,552

2,109

377
333
570

2,472

4,207
807

8,872

556
303
834

Ga. (est.)....

1,329

7,921

10,031
1,142

101,075

17,851

19,928

327
843

589

2,616
12 8

157

7,293
4,353
4,050
2,125

168

338
369

2,370

685

2,951

351
780

1,238

1,152

80

41

1.517

12,750
1,112

1,972
3,214
2,033

4~2

|

1,220

3, 1876.

Receipts. Shipments. Stock.

8,974
5,061
5,575
3,591
56,778

1,590
3,816

665
353
670

Weekending Mch.

13,175

1,452
1,2 !3

216

Dallas, Texas
Jefferson, Tex

Shreveport, La.

2,219

13,780
9,360
5,’42
8,439

7,304
71,232
7,63)

122,896

382

888

2,047
5,739
4,737

5,0:)!
5,368
7,502

212
316
41
331
403
556

315
466
360

2,08 3

7.548
2,478

27,275

2,813

6,683

77

471
524

1 767

886

4,182
1,628
791

4,798

874
3,985 1 32,265

4 859

8,675

13,538

7,577
4,117

Total, new ports

19,917

22,639

72,103

21,284

25,174

72,700

Total, all

31,211

31,511

173,178

42,135

45,102

195,596

Charlotte, N.C
St. Louis, Mo

Cincinnati, O

207

THE CHRONICLE

March 3, 1-77.J

14,214

Selma, Alabama.—It has rained here on two

days this week,

cloudy and threatening.
Madison, Florida.—There has been rain at this point on two
days, the rainfall reaching one inch and sixty hundredths.
Average thermometer 55, highest 66 and lowest 4i.
Macon, Georgia.—We have had rain this week on one day
The rainfall for the month of February is two and twenty liun
dreths inches.
The thermometer has averaged this week 43, the
highest being 67 and the lowest 33. Planters are busy preparing
their lands for the next crop.
The sales of fertilizers in this
section are fully one-third less than last year.
Atlanta, Georgia.—It lias been showery one day and has
rained steadily one day this week, the rainfall reaching fiftyseven hundredths of an inch.
The thermometer has averaged
50, the highest being 61 and the lowest 34.
Columbus, Georgia.—There lias been one rainy day here this
week.
The thermometer has averaged 53.
The rainfall for tlio
week is two and seventy-two hundredths inches ; and for the
month, three and forty hundredths inches.
Savannah, Georgia.—It has rained here on one day, but the
rest of the week has been pleasant.
The thermometer has aver¬
aged 54, the highest being 65 and the lowest 40. The rainfall is
twenty-five hundredths of an inch.

and is

now

Georgia.—We have had heavy rain the earlier part
on two days, but the latter part has been clear and
pleasant. The thermometer has averaged 50, the extremes being
36 and 64.
The rainfall for the week is one inch and five hun¬
dredths ; for the month, four inches and thirty hundredths.
Charleston, South Carolina.—We have had rain on one day of
year.
the week, the rainfall reaching twenty-four hundredths of an
Weather Reports by Telegraph.—Crop preparations are
inch.
The thermometer has ranged from 40 to 63, averaging 52.
The following statement we have also received by telegraph,
making fair progress, but have, over a considerable section, been
somewhat interfered with this week by severe rain on one or showing the height of the rivers at the points named at 3 o’clock
more days.
The grasshoppers are causing great uneasiness in March 1. We give last year’s figures (March 2,1876,) for com¬
Texas, as they are appearing in great numbers at all points where parison:
M’ch 1. ’77“ '
they were last fall.
In^b.
Inch.
Feet.
Feet.
Galveston, Texas.—It has rained on one day this week, the rain¬
4
1
6
9
Below high-water mark...
29
7
3
10
fall reaching sixty hundredths of an inch.
The thermometer
Above low-water mark
9
6
9
3
.Above low-water mark
has averaged 56, the highest being 63 and the lowest 48.
Young
4
17
1
20
.Above low-water mark
42
3
grasshoppers are appearing at every point visited by them last
11
13
Above low-water mark
summer, and although they have as yet done no serious damage,
New Orleans reported below high-water mark of 1871 until
there is great alarm.
The rainfall for the month is one inch and
Sept. 9, 1874, when the zero of gauge was changed to high-water
twelve hundredths.
Indianola, Texas.—We have had two days of rain, but the mark of April 15 and 16, 1874, which is 6-10tks of a foot above
balance of the week has been pleasant.
Average thermometer 1871, or 16 feet above low-water mark at that point.
53, highest 67, and lowest 39. The rainfall has reached one inch
Overland Movement.—In our figures of last week we gave
and eighteen hundredths.
Work is progressing. Rainfall for the overland at a decrease of 33,090 bales as compared with last
the month, eighty-eight hundredths of an inch.
Corsicana, Texas.—It has rained hard on two days this week, year, and then remarked that we had little confidence in such or
and we have had one killing frost.
Average thermometer 50, any decrease. Daring the past week, our attention has been
highest 63, and lowest 37. The rainfall for the week is two several times called to this statement, and we have been shown
inches and forty-nine hundredths of an inch. Grasshoppers are
The rainfall for February is four and sixty-five figures based on the movement at Memphis, Nashville and Louis¬
abundant.
ville to February 16, which would indicate a probable large
hundredths inches.
Dallas, Texas.—We have had rain on two days this week, the falling off in the final result.
rainfall reaching one and forty hundredths inches. The ther¬
The argument used is very well put by one gentleman of New
mometer has averaged 52, the highest being 65, and the lowest
33. We have had killing frosts and ice on two nights.
The Orleans, whose name we are not authorized to give. As a basis
grasshoppers have done no serious damage in this vicinity yet, for his conclusion, he starts with the fact that 81 per cent, of the
but fears are entertained that much will be done. The rainfall total overland movement last year were shipments from these
for the month of February is two inches and seventy-seven
three cities. Then giving the total at each city up to Feb. 16, and
hundredths.
New Orleans, Louisiana.—We have had a Tainfall, on one the estimate of best judges for the balance of the year,he presents
day, this week of three and thirty hundredths ioches. The the following as an indication of what may be the result:
thermometer has averaged 53.
Receipts
Shipments
%
The rainfall for the month of
—Decrease
,—since Sept. 1 to—,
from Feb. 15 toFebruary is eighty-five hundredths of an inch.»
To
After
Total
Feb. 16,
Feb. 18,
Sept. 1, Sept. 1,
Shreveport, Louisiana.—The weather during the week has been
Feb 16. Feb. 16. this y’r.
1376.
1877.
rather cool, but otherwise without objection.
1876.
1877.
The thermometer
35,605
82,148
99,605
46,513
has averaged 49, ranging from 63 to 35. The rainfall is one inch Memphis.. 335,578
64,030
382,121
334
894
4,337
And twenty-eight hundredths.
42.425
4,337
Nachville.. 42,031
14,314
23,247
5,9 53
44,314
30,00)
196,554
Vicksburg, Mississippi.—There has been one rainy day here St. Louis.. 193,621
this week, the rainfall reaching one inch and nineteen hun¬
Total.. 568,230
621,100
9S.337
52,870
54,919 107,783
118,256
dredths.
The thermometer has averaged 49, the highest being
68 and the lowest 31.
Of course the conclusion from the foregoing is inevitable that
Columbus. Mississippi.—The weather during the week lias the
gross overland this year mu9t fall off about 107,789 bales, if
been cloudy with occasional rains.
The rainfall for the week is these
ports furnish, as they did last year, 81 per cent of this supply.
one inch and fifteen hundredths.
These words we have put in italics are the important ones.
WilL
Little Rock, Arkansas.—We have had alternately clouds and
sunshine during the week, with} rain on Thursday to a depth of these cities furnish.go large a percentage of this movement?
ninety-one hundredths of an inch. The thermometer has aver¬ Without referring to other evidence, the report of the National
aged 49, the highest being 74 and the lowest 29.
Cotton Exchange, issued the 21st of February, would appear to
Nashville, Tennessee.—It has rained on two days this week, the
rainfall reaching ninety hundredths of an inch.
Average ther¬ us to indicate that they will not. That report brings down tka
mometer 35, highest 41 and lowest 27.
overland movement to the 3lst of January, and, according to it y
Memphis, Tennessee.—It has been rainy on two days, and the gross this year was to that date 399,491 bales, against 417,457
•cloudy the balance of the week. The thermometer has averaged
44, the highest being 59 and the lowest 30. The rainfall is one bales last year, a falling off of only 18,000 bales, although th#
the above statement shows a deficien cy of 52,870 bales in the
inch and twenty-five hundredths.
Mobile, Alabama.—The weather has been clear and pleasant receipts at the cities named up to February 16. But what is of
the earlier part of the week, but during the latter part it has
even more importance, the net overland at that date (which of
rained severely on one day, the rainfall reaching three and
because it is only the net that
twenty-three hundredths inches. The thermometer has averaged course our remark referred to,
54, the highest being 72 and the lowest 38. The cause of the is at the end of the year added to the crop under the head c£
small receipts this week is the exhaustion of stock at the depots
Overland ”) is given in the same report at 197,960 bales this sea¬
of supply, about ninety per cent, of the crop having been marketed
son, against 173,185 bales last season, an increase of 2&_775 biles,
to date.
The rainfall for the month is one inch and forty hun¬
instead of a decrease. We do not consider this at
conclusive
dredths.
Montgomery, Alabama.—It has rained on one day this week, as to the final result; but it was a knowledge of* these facts
severely, the rainfall reaching one inch and eighty-one hun¬ which led us to put the statement in the form, we did last week.
dredths. The thermometer has averaged 51, the highest being
European Spinners’ Takings.—The following statement of
68 and the lowest 33. The rainfall for the month is two inches
the takings of European spinners during January, 1877 and 1870,
and sixty-eight hundred'lis.
.. '
'

totals show that the old interior stocks have
increased daring the week 2,422 bales, and are to-night 21,821
bales less than at the same period last year.
The receipts at the
same towns have been 6,557 bales less than the same week last
The above




Augusta,

of this week

*

,

....

....

,

:....

THE

CHRONICLE.

(March 3, 1877,

%

have made up

from the tables of Messrs. Ellison & Co/s Liv¬
erpool circular of February 13 :
we

Fnm Jan. 1 to Feb. 1, ’77.

Stock,

f-

Jan.

GR’T BRITAIN:
American

Imports Exports Imports

1.

Total

Actual.

213,910
73,090
105,100

499,110
40,380
73,640

80

5,160

East Indian

14,520
121,390

Total G’t Britain,’77.
Same time lb16

588,009
173,071

Egyptian
Smyrna, &c
West Indian, &c....

West Indian

East Indian
Total
Same

Continent,1877
time, 1816

Total Europe, 1877..
Total Europe, 1876..

44,990
45,110

210

340

1,830

3,330

12,780

30,560

—7,770

72,560

5,070
40,970

38.080

Imports Imports
direct.

603,500
463,471

47,148

indirect

160,958
3,568
17,531
19,162
2,577
43,358

323,010
374,919

•.

.226,760

503

206,890
16,480
7,000
15,490
10,830
06,320

Brazilian.

Egyptian
Smyrna, &c

493

541,390
69,15)
133,140

641,580
510,619

Jan. 1.

American

494,210
40,050
73,150

330

22.790

Stock,

CONTINENT:

4,870

Feb. 1.

to

Net.

500

Brazilian

Stock,
Feb. 1.

Spinn’rs’
takings

247,154
206,723

1,047,990
7U,St2

Total

Stock,
imports. Feb. 1.

38,080

911,011
1,047,994

82^,260
815,384

4,870

363,240
321,158

Spinn’rs’
takings
to Feb. 1.

165,823
; 3,848
18,021
19,162
4,407
73,918

248,651
16,555

124,067
3,823

7,925
13,580
13,379
61,523

17,096
20,772
1,858
75,710

33,108

285,234
239,831

264,918
421,218

243,326
193,532

76,160
60,256

888,734 1,193,178
703,302 1,236,602

606,566
514,690

330
490
.

..

1,830
30,560

.

Bombay Shipments.—According to our cable
despatch received
to-day,there have been 27,000 bales shipped from Bombay to Great
Britain the past week, and 19,000 bales to the
Continent; while
the receipts at Bombay during this week have been 45,000
bales.
The movement since the 1st of January is as follows. These are
the figures of W. Nicol & Co., of Bombay, and are
brought

Wednesday.

Mar.-Apr. delivery, 634@17-32d.
Apr.-May deMvery, 6>i@21-32ri.
May-,June delivery, 6 11-16&23~32d.
June-July delivery, 6 25-32d.

3
J

i

Mar.-Apr. shipment, sail, 6^d.
May-June delivery, 6>^d.
June-July delivery, 6 13-16d.
July-Aug. delivery, 6 27-32d.

.

.—Shipments this week-*

L

Great
ConBritain. tinent.

f ;<
h

J 1

1877
1876
1875

27,COO
13,00J
30,000

19,000
4,000
4,000

Total.

<36,000
17,000

34,000

.-Shipmentssince Jan.l-,
Great
Britain,

83,090
65,000
182.000

Continent.

69.000

60,000
16,000

Total,

152,000
125,000
258,000

,—Receipts.——
This
week.

45,000
27,000
49.000

Since

Jan.l.
201,000
181,000
369,000

From the foregoing it would appear that,
compared with last
year, there is an increase of 29,000 bales this year in the week's

shipments from Bombay to Europe, and that the total movement
since January 1 shows an increase in
shipments of 27,000 bales,
compared witn the corresponding period of 1876.
Gunny Bags, Bagging,

Thursday.

Mar.-Apr. delivery, 6 9-16d.
Apr.-May delivery, 6 ll-16d.

Apr.-May delivery, 6%@21-32d
May-June delivery, 6 23-32@^d.
June-July delivery, 6 13-lbd.
Jan. shipment, sail, 6 19-32d.

May-June delivery, 6 25-32d.
Mar.-Apr. delivery, 6 19-32d.
June-July delivery, 6 27-32d.
Apr.-May shipment, sail, 6 13-15d’.
Mar.-Apr. delivery, 6 9-16d.
Apr.-May delivery, 6 23-32@lM5dt

Feb.-Mar. shipment, sail, 6 ll-16d.

July-Aug. delivery, 6%d.

Jan.-Feb. shipment, sail, 6 19-32d.

Apr.-May delivery, Orleans, 6 U-lOd.

Friday.

Mar.-Apr."
21-32J.

Apr.-May
13-16d.

delivery, 6 21-32@U-163J

delivery,

May-Tune delivery, 6%d.
June-July delivery, b 15-10d.
Mar.-Apr. delivery, 6%d.
Mar.-Apr. shipm’t,sail, 6 29-32@15 16d.
Apr.-May delivery, <6%d.
May-June delivery, 6 27-32d.
Mar-Apr. d-livery, 6 19-32d.
Apr.-May delivery, 6 23-32d.
May-June delivery, 6 13-16a.

613-16@25-32@

May-June delivery, 6%@29-32d.
June-July delivery, 6 3l-32d.
July-Aug. deliver}'. 7d.

Feb.-Mar. shipm’t, sail, 6 1-3-163.

Mar.-Apr. delivery, 6%@21-32d.
Apr.-May delivery, Oricans, 6 25-32d. June-July delivery, 6^d.
The Exports of Cotton from New
York, this week, show

a

decrease, as compared with last week, the total reaching 4,961
bales, against 5.224 bales last week. Below we give our usual
table showing the exports of cotton from New
York, and their
direction, for each of the last four weeks; also the total exports
and direction since Sept. 1, 1876; and
in the last column the total
for the same period of the previous
year:
Exports of Cotton(bales)

from New York since Sept.

1* 1876

WEEK ENDING

Same
Total
to

EXPORTED TO

Feb.

Feb.

Feb.

7.

14.

21.

12,317

Liverpool
Other British Ports.

6,524

5,224

....

Total to Gt. Britain

,

Feb.
28.

period
prev’us

date.

•

6,524

•

•

3,965

year.

209

228,462
7,343

258,993

4.165

235,805

260,517

296

5,440

1,915

5,440

1,915

500

9,648
2,226
1,586

20,059
8,374
21,099

•

5,224

35

....

1,5S4

....

Total French.

•

•

•

Bremen and Hanover.

35

•

100

Hamburg

•

•

•••

....

«

•

•

•

•

....

•

•

....

•

•

•

•

rather quiet
100
scarcely anything doing of Total to N. Europe.
500
13,460
49,532
importance. The business is of a jobbing description, and no
Spain, Oporto&Gibraltar&c
sales of importance are making. Holders are
12
steady as to price All others
200
409
and are quoting 12^c.
Bags are quiet and nominal in price.
Butts rule steady iu price and are now
200
421
quoted at 3fc. here and Yotal Spain, Ac
8fc. in Boston. The arrivals are small, only 450 bales
Grand Total
having
6.559
12,417
5,224
4.961
come to hand since our
254,905 312,44 5
last, of which 300 bales had been sold
previous to arrival. Holders are not disposed to shade quota¬
The following are the
receipts of cotton at New York, Boston,
tions in order to effect sales, and the market closes
steady at our Philadelphia and Baltimore for the past week, and since Sept. 1, ’76:
figures.
Liverpool, Mcli. 2—3:30 P. M.—By Cable from Liter.
FEW YORK.
BOSTON.
PHILADELP’ IA
BALTIMORE.
POOL.—Estimated sales of the day were 15,000
bales, of which escs’ts from
This
3,000 bales were for export and speculation.
Since
This [Since
This Since
This Since
Of to-day’s
week. Sept. 1. week. 8eptl. week.
10,500 bales were American. The weekly movement is sales,
Septl. week. Septl
given
as follows:

during the past week, and there

is

.

....

..

....

•

....

....

Feb. 9.
Sales of the week
bales.
40,000
Forwarded
16,000
Sales American
29*000
29,000
of which exporters took
4,000
4,090
of which speculators took
5,000
Total stock
830,000
of which American
551,000
Total import of the week
101,000
of which American.
61,000
Actual export.. .....
4,000
Amount a float
400,000
of which American.
344,000
The following table will show the daily

8}>ol.
Mid. Upl’de.
Mid. Orl’ns.
Futures.
These sales
wise stated.

62,000
11,000
43,000
3,000
8.000

8t6,060
15).000
83,000
43,000
5,000

8atur.

Mon.

10.000

56,000
12,000

26,000

Florida........

43

38,000

8’th Carolina
N’th Carolina.

12*801

936

92,048
72.474
209,101
11,257

42,000

Mch. 2

5,000
2,000
846.000
555.000
52,000

3,000
6,000
895,000
592,000
110,000

38,000

78,000

4,000
477,000

4,000

Tues.

Wednes.
Thurs.
Fn
@6#
..@6*
..@6)4
..@6%
..®6 11-16
@6 11-32..@6 11-16..@6 11-16..@6 11-16..@6 13-16
@67i
.

.

are on

the basis of

Apr.-May delivery, G)4@17-32d.

delivery, 6%d.
delivery, 6 li-16d.
delivery, 6%d.
shipm’t, sail, 6^d.

Uplands, Low Middling clause, unless

other¬

Saturday.
I Feb.-Mar.
delivery, 6 13-32d.
I Jan.-Feb.
shipment, sail, 6 l?-32d.
Feb.-Mar. shipment, sail, 6 19-32d.
Apr.-May delivery, 6 9-l«d.
May-June delivery, 6 23-32d.
June-July delivery, 6 23-32d.
'

Monday.
Jan.-Feb.

Mar.-Apr. delivery, 6 l5-32@xdApr.-May deliver}', 6 9-:f@19-32d.
May-Jute delivery. 6%@21-32@ll-16d.
June-July delivery, 6 11 16a23-32rt.
July-Aug. delivery, 6 25-32@13-16d.
Feb.-Mar. shipment, sail, 6%d.
Mar.-Apr. shipment, sail. 6 ll-16d.
May-June delivery, 6 21r32d.
Jan. shipment, sail, 6 17-32@9-16d.

shipm’t, sail. 6 9-36d.
Mar.-Apr. delivery, 6 15 32d.
Apr.-May delivery, 6 3-16d.

June-July delivery. ti%@23-32d.
Mar. Apr. delivery,
Apr.-May delivery, 6 l9-32d.
July-Aug. delivery, 6 25-32d.
Feb.-Mar. shipment, sail, 6
21-32@%d.
Apr.-May delivery, 6 9-16d.

Tuesday.

Mar.-Apr. delivery, 6 35-32d.
Apr.-May delivery, 69-1* @19-32@9-16d
May-Jnne delivery, 6 21-32@&d.
June-July delivery, 6 23-32<
Jan.-Feb. shipment, sail. 6 17-32<L
Mar.-Apr. shipm’t, sail, 6 ll-16d.
Jnne-July delivery, 6 11-ltd.
Jap,-Feb. ehipm’t, sai\ OXd.




I

....

New Orleans..
Texas
Savannah
Mobile

Feb. 23.

464,000
469,000
385,000
395,000
369,000
closing prices of cotton for the week:

Feb.-Mar. delivery, 6 7-l€d.
Mar.-Apr. delivery, 6 7-16@15-32d.

May-Jane
June-July
July-Aug.
Mar.-Apr.

Feb. 16.

•

Mar.-Apr. delivery; 6 7-16d.

| May-June delivery, 6 21-32d.
j Feb.-Mar. shipment, sail, 6)*d.

June-July delivery, 6 23-32d.
July-Aug. delivery, 6 25-32d.
Apr.-May delivery, 6 19-32d.
Feb.-Mar. shipment, sail, 6 19 32d.
Mar.-Apr. delivery, 6 1&32d,

Virginia
North’rn Ports

Tennessee, <fec
Foreign..

8,362
5,678

62.600

887

113,825

82,314

....

637

’

"

2,782
2,943
CO

3,066
..

.

•

19,727 '772,039

Total last

20,795

•

*

•

•

•

•

•

•

•

•

•

•

•

•

....

4,761
6,824
•

•

•

£48
....

125
•

•

*

•

8,568

•

*

*

*

666

*

•

«

-

....

14,360 230,246

*

14,303
-

•

• •

422

11,667
1,558 49,127

*

67,363

68,337

*

ii i 14,379

•

63,252

3,709
6,150

1,180

.

19,161

3,86 i

....

•

....

•

....

112,502
3,117

Total this year

*

•

49
962

33,746

....

1,087

5,100

...

....

43,494

....

2,840 94,625
"

year.

664,745

8,923 191,095

1,241

37,570

2,490 91,618

Shipping News.—The exports of cotton from the
United
States the past week, as per latest mail
returns, have reached

77,043 bales.

So far as the Southern ports are concerned, these
exports reported by telegraph, and published in
The Chronicle last Friday.
With regard to New York, we
include the manifests of all vessels cleared
up to Wednesday
night of this week.

are

the

same

Total bales.

3,965
To Havre, per stesmer Canada, 296.
To Bremen, per steamer Hermann. 500.
New Orleans—To Liverpool, per steamers

200
296

500

Warrior, 2,458

Texas,
i,
.

To Cork, per ship Belle O’Brien,
5,900
'
To Havre, per ships
Alexander, 4,(450....Emma,

Leopold and Marie, 1,514
To Rouen, per bark Nerea, 273
To Bremen, per ship Troz. 2,197
To
To

3,577
Lou s

28,062
6.900-

845....per bark
..

per bark August Leffler, 1,814..
.’.
Barcelona, per bark Renown, 466
Charleston—To Liverpool, per steamer Ponce, 1,701 Upland and 111
Sea
Wenonah, 1,971 Upland and 68 Sea Island.
To Cork for orders,
pet bark Schiller, 1,937 Upland
Savannah -To Cork or.FaJploutb, for
orders, per bark Breidablik, 1,260

Is'and.,.ipetbaft

Sand.......
vre,]
a

To Genoa, pc

‘ce,

ijiii

6,409*
aia

Cronstadt,

U
To

,

296

....

12,317

Bavre
Other French ports.

Other ports

&c.—Bagging^fias been

May-June delivery, 6 23-32d.
June-July delivery, 6 25-32d.

r.-Apr

1:

Vtu T1

Mar.-Apr. delivery, 6 9-16@l7-32d.
Apr.-May delivery. 6 ll-16@ Jl-32i.
July-Aug. delivery, 6,7^d.
Mar.-Apr. delivery, 6)tfa.
Apr.-May delivery, 6%d.

Jan.-Feb. shipment, sail, 6 9 16d.

“

7

Feb.-Mar. shipment, sail, 6 ll-16d.

and 55 Sea

rklmdlaha, 960 Upland. !7.77~.

island..

2,19T
1,831
466.

3,861
1,937

1,260
-

a.

1877.J

March

THE CHRONICLE

Texas—To Liverpool, per steamer San Antonio, 84....per ship Choice,
8,584....per bark Jennie 8*veeney, 2,141....
To Fleetwood, per bark Jennie B., 1,362
Wilmington—To Amsterdam, per bark Auguste Feitge.l .330
Norfolk-To Liverpool, per barks Alice Roy, 1,775... Montreal, 2,560
....Rio de La Plata, 2.124
Baltimore—To Bremen, per steamer Leipzig, 313
Boston—To Liverpool, per steamers Istrian, 1,547
Atlas, 436
Sam Francisco—To Liverpool, per ship Thirlmere, 101

Indian
5,809
1,362
1,330

led to

209

declined early in the week, and the reduced prices
fair business for export and consumption.
Still, no

corn

a

decided

activity occurred; prices, low as they are, will, it is
6,459
by many, go still lower, under the large supplies on
313
hand and coming forward. It should be remembered, however,
1,933
101 that, whereas corn is
selling at a little more than one cent, a
Total
77,013 pound, wheat is bringing more—2^ to 2^ cents a pound, and oats,
The particulars of these shipments, arranged in our usual form. rye and barlsy, H@l$c. per pound.
This fact promises to greatly
are as follows:
increase the consumption of corn, especially as its quality is
Liver¬ FleetBre- Amst’r-C.onpool. wood. Cork. Havre. men. dam. stadt.Genoa.Total. excellent. Besides, tlie low price has already caused a material
3,965
296
New York....
500
4,981
falling off in receipts at the principal markets of the West.
N. Orleans
28,062
5,900 6,409 2,197
45,141
1,334
Charleston
1,937
3,851
5,788 Yesterday, the business was more active, and the close steadier.
Savannah
1,260 1,576
960
3,796
Texas
5,809 1,362
7,171 To-day, 50,000 bushels No. 3 mixed sold for March at 56£c., and
Wilmington
1,330
1,330 closed at 57c. on the spot.
Norfolk
M59
6,459
Baltimore.
313
313
Rye has been dull and closed weak. Barley has sold at rather
'Boston
1,933
1,983 easier
101
prices. Canada peas are dull. Oats were less active, but
San Francisco
101
prices have, on the whole, been pretty well supported. To-day,
Total
50,230 1,362 9,097 8,?S1 3 010 1,330 1,834
960 77,013
No. 3 graded closed at 43c. for mixed and 45c. for white.
Included in the above totals are, from New York, 200 bales to London;
•from New Orleans, 273 bales to Rouen and 466 to Barcelona.
The following are the closing quotations:
Below we give all news received to date of disasters, &c., to
Flour
Grain.
|
No. 2
W bbl. $4 25® 4 65 \ Wheat—No.3 spring,bush
vessels carrying cotton from United States ports :
SI 32® 1 -35
....

believed

-

....

....

....

.

...

«

•

.

.

f

f

....

...

....

.

.

.

....

•

•

•

•

•

,

....

.

,

,

,

••••

•

»

.

»

•

.

....

,

t

,

....

••••

,

•••.

•

••••

-

-

.

....

.

City of Houston, str. (1.515 tons, of New York;, Eldridge, from Galveston,
which arrived at New York 27th, put into Key West, Feb. 15. with her

crank-pin broken. A
the

new one was pent out to her. She proceeded on
S3u, arriving at destination on the 27th.
Muriel, str (761 tons, of London), Quine, from New Orleans Feb. 6 for Liv¬
erpool, is reported to have grounded at Tampico on Jan. 11, at, 7 P. M.,
but got off next morning after throwing overboard about 200 tons
sugar

loaded at Vtra Cruz for Liverpool.
•Disco, bark (733 tons, of H ilifax).—Charleston, Feb. 22—The Committee of

Arbitration of the Chamber of Commerce on Feb. 21 made an award of
fO per cent on the gross value of lc3 bales of cotton saved from the

Disco, before reported.
Gen. Fairchild, bark (1,428 tons, of Freeport), from Charleston, collided in
the Mersey, Feb. 19, with a steamer, aud wa9 damaged.
-Juliana, br:g <362 tons, Spanish), Amezaga, from Galveston for Havre, put
into St Michaels, Jan. 21, with loss of rudder, and was moored inside
the breakwater for repairs.

Superfine State & West¬

masted, arrived at Charleston on the 21st.
Thos. R. Pillsbury, schr. (414 tors, ol Thomaston, Me.), from New Orleans
for Boston, before reported ashore at Nausetf, got off after
discharging
a lot of
pig iron aud 120 bales cotton, anil arrived at Boston, Feb. $3, in
tow, leaking badly.
jHarvey Mills.—Charleston, Feb. 21—The case of the
ship Harvey Mills,
which was on Are in the port of Beaufort in De ember
last, and against
which numerous libel suits have been filed by
steamers, tugs aud fire
companies, has been fixed for a hearing on the 7t.h of March next. On
motion of Hon. A. G. Magrath,
yesterday, Judge Bryan issued a commis¬
sion to take testimony in the case in New
York, which commission was
at once forwarded to a commissioner of deeds for
immediate action.
Galway, Feb. 3.—A large vessel (cotton-laden), is reported wrecked in
Castello Bay; no particulars;
tug goes there this morning. Feb. 11.—
A very considerable quantity of cotton is
coming ashore at the Arran
and Boffin Islands and adjacent coasts.
Up to the present time the fol¬
lowing have been saved, viz.: On the 24th Jan., a bale marked ‘XO,”
and between Jthe 22d Jan. and 1st
Feb., 11 bales, 2 parts of bales, a small
quantity (about 2 cwt.), and 2 other cwts, all without marks.

#

Sail.

Steam. Sail. Steam.

(J.

Saturday...—
K@9-32comp. ^comp.
Monday....—@14 J£®9-32comp. ^comp.
JLuesday. ..—3^@9-32comp. %comp.

Wednesday—3£®9-32comp. %comp.

rnursdaj'..— @>4 >4" a 9-32comp. &coinp.
Friday...;.— <g^ ^@9-S2comp. *4comp.
Market ouiet.

Sail.
g

—
—
—
—
—
_

Steam.
C#

Sail.
£

q

%comp.
%@Icomp.
%comp.
%®lcomp.
%comp.
%®icomp. >4©%
^comp.
%®lcomp. %(&%
%comp. */*(&% %®lcomp.
%comp. %®.3£ %&lcomp.

Rye flour, superfine

tendency.

The

decline in prices, however, is not important, as stocks and
produc¬
tion

relatively small, and holders still*inclined, notwithstand¬
ing the more peaceful aspect of European politics, to regard the
are

future with much confidence, as receipts of wheat continue
small, and stocks are rapidly diminishing. The lower prices of
flour caused, yesterday, a rather better business for

consumption.

To day, the market

was

export and
dull, unsettled and

reduction, however, there were more buyers than sellers. The
offerings were mostly ©f irregular and ungraded parcels. Straight
lines were not offered to any
considerable extent, owing to the
rapid reduction which goes on in the visible supply, and the
continued small receipts «t the Western markets. The demand
has been mainly from
City millers, but a small business for export was reported.
The weather is generally favorable to the
prospects of the crop for 1877. Yesterday, there was more active
demand for export and consumption ; and to-day, at our reduced
quotations, there was some demand, but buyers and sellfers could
not get
together, and little wa3 effected ; the bids were at $1 38£
<®$1 SO for No. 2 Chicago, and $1 42@$1 48 for No. 2 Milwaukee
in store.




ne.v

80®

Barley Malt—State

.

44®
65® 1 05
50®
65
u>®
72
75®
95
00® J 15
90® 1 15

...

Canadian

3 35® 3 40

88
55
56

42.-31

Peas—Canada.bond&free

The movement in breadatuffa at this market has been
lowa

as

foi-

:
•RECEIPTS AT NEW YORK.

Flour, bbls.
C. meal, “

1877.
,
For the
Since
Jan. 1.
week.
49,715
440,313

5,650

.

5.325

Wheat, bus.

“

Corn,

.

R7e,
“
Birley.
Oats ..."

The

.

282,306
3,097

.
.

EXPORTS PROM NEW YORK.——,

*

Same

18177.
For the
Since
week.
Jan. 1.
•

1876.

536,137

567,039

818 361

931,279

839,451

1876.
Since
Jan.l.

.

,

=

time

41,239
29,054
439,711 1,558,331
2,U83,315 2,154,383
21,098
94,fc73

40,810
90,663

18,912
6,401

1**4,374
32,570

25,744
2,392

22,616

12),428

1,307,221

340,615

2,533,067

296,770
184,072

2.350,062
2,093,111

300,564

83,315

....

15,387

95,386
20,762

....

626

....

...

3,966

45,693

following tables show the Grain in sight and the

RECEIPTS AT LAKE AND RIVER
FEB.

move¬

bb
At—

Oats,

bush.

bush.

bush.

(56 lbs.)
633,311
43.8)0

1.177

44,177

407,183

4,691

33,246
11,200
84,^89
9,770

41,513

25,360

Toledo
Detroit
Cleveland
St. Louis
Peoria
Duluth

*1,225

19,411

1,700

73,937

Total Jan. 1 to date.
Same time 1876

81,^84
70,696
639,251
763,026

Same time 1875

#

time
time
time

34^,825
125,200
....

293.011 1,637,462
233,189
856,732

193,976
30.S71

96,540

13,355

19,268
12,940

15,522
9,818

400

3,147
800
3,831
1 3,900

18,8=0
85,270
46,690
....

..

407,775
204,566

1,662
2,909
6,400

•

....

136,973

86,341

101,059

23,528
35.259
28,211

153,194
1,490,666
4i3,x73
835,845
334,630
101,(.61
9,202,290 1,931,725 1,014,866
5,587,883 8,968,429 2,4 )9,877 1,415,098

653,662
2,669.6S9

633,621 6,180,7U
1,087,185 12,153,007
I to date..3,232,423 32,064,703
1375-6.. .2,897.256 43,684,8*3
1874-5... .3,187,601 -40.711,450
1873-4... .3,756,342 55,492,962

Rye,

bush.

(32 lbs.) (48 lbs.) (56 lbs.)

635,610

Same time 1874

Aug.

7.30)

....

...,

62,670

:

Barley,

(60 lbs.)
29,542
85,780

Milwaukee

24, 1877

Corn,

bush.

(196 lbs.)

19,104

FEB.

Wheat,

s.

Chicago

Total
Same
Same
Same

PORTS FOR THE WEEK ENDING

24, 1877, AND FROM JAN. 1, TO
Flour,

873,447
211,370
225,818

2,154,290
852 725
3.181 130 1,39),248 360,190
47,052,-19J 13,005,912 7,484,716 2,150,933
28,283.561 16,733,087 5,915,583 1,472,751
25.951,280 14,172,335 5,047,158 910,560
32,397,8:7 15,474,683 6,201,503 1,378,920
7,2)1,574
5,7t0,242

.

Estimated.

Shipments of Flour and Grain from the

ports of Chicago,
Toledo, Detroit, Cleveland, St. Louis, Peoria and
Duluth for the week ended Feb. 24, 1877, and from Jan. 1 to Feb.
24, inclusive, for four years :

Milwaukee,

Flour,
Feb. 24, 1877
Feb. 17, 1877
Cor. week ’76
Cor. week ’75

Corn,

Oats,

bush.

bush.

675,136
702.145

Barley,

bush.

*143,133

50,6 37

14,052

156.3S3

C0.S39

12,846

205,678
85,158
313,239
723,632
63.071
135,483
112,770
191,871
132.5; 1
110,081
492,211
87,920
165,400
85,750
111,527
271,266
83,069
45,470
514,733
102,229
593,599 1,185,578 4,228,039 1,100,644
805,030 2,282,466 5,5S8,960 1,367,072
623,705 1,899,647 3,237,325 1,307,81 9

60,402
43,0:9

20,750
11,856
11,800
11,653

981,051

FLOUR

133.352
1H9.107

6,140,309

*

1,750,145

1,389,000

71.080

81.735

52,817
50', 684
511,540
418,602

737,922

24, 1877, AND FROM JAN. l.TO DATE.

Flour,

Wheat,

Corn,

Oats,

bbls.

bush.

bush.

Baney,

bosh.

257,604
598,150
11,500

75,509
94,575
3,2T0
5,600
16,80.)

8<,040
3,700
400

53,026
47,962
900
6,998

8,7t0
40,738

Philadelphia

10,360

7,000

Baltimore
New Orleans.,v

17,786

20,700

20.965

Total..

.

8,616

126,104
126,237
123,259
122,469

AND GRAIN AT SEABOARD PORTS FOR THE

WEEK ENDED FEB.
At—
New York
Boston
Portland
Montreal

Rye,

bush.

67,517

Jan. 1 to date.
time 1376
time 1875
time 1874

RECEIPTS OF

bush.

35,014

Cor. week ’74
Cor. week ’73
Cor. week ’72
Total
Same
Same
Same

Wh~at,

bbls.

157,99?

0,500
.

...

....

L&J.633

,

For the
week.

ment of Breadstuffs to the latest mail dates:

depressed.
The wheat market has given way
slightly, under the continued
absence of demand and increased pressure to sell, caused
by the
less belligerent tone of advices from Russia and
Turkey. At the

Southern,
Rye

4 25® 4 90
2 85® 3 00

Corn meal—Western, &c.
Corn meal—Br’wine. &c.

’75.

Friday, P. M., March 2, 1877

7 50®10

| Oats—Mixed
“....
brands
7 25® 8 25 |
White
Southern bakers’and fa| Barley—Canada West...
7 50® 8 50 l
mily prands.
State, 2-rowed
Southern shipp’g extras.. 6 25® 7 56 J
State, 4-rowed

Corresp’ng week,’76

The flour market has ruled very dull
throughout the whole of
"the past week, and prices have had a downward

1 88® 1 44
1 46® 1 48
1 30® 1 45
1 60® 1 60
1 40® 1 ee
69
57®
60
68£
62
57®

spring

Corn-Western mixed..,.
Yellow Western,

..

Total
Previous week

BRE ADSTUFFS.

5 803 6
6 25(2. 8
6 00® 8

City shipping extras..
5 80® 6
City trade and fantfily

*

(j

*

do XX and XXX
do winter X and XX..
do Minnesota patents.

spring

Red Western
Amber do
White

Wheat

extras

Cotton freights the past week have been as follows :
Liverpool.
,,—Havre.—».—Bremen.—*
Hamburg.—,
Steam.

30® 5 60
5 70® 6 00

Ertra State, &c
Western Spring

Sullivan Sawin, schr. (676 tons, of Bath,

Me.), Rich, from Savannah for
Liverpool, before reported off Charleston bar, Feb. 20, partially dis¬

No. 2
No. 1

5

ern

—

147,400
476,600

1',200

134,595

10,700

1,475,829

2C8.401

bush.

6.UC0
IV'CO
27,54 4
..

90,684

Rye,

bush.

3,9C0
1,2S4
.

..

600

2,500
....

8,304

THE

210
Floor,
Previous week
Cor. week’76.......
Jan. 1 to date
Sunc time 1876
Simn time 1875

bash.

174,533
164,783
1,02'),901
1,419,63S
i,22tt,o52

271,683
301.816
1,191,995
2,591,877
2,431,680

Oate,

Core,

Wheat,

bbls.

bnsh.

hash.

bnsh.

1,229,826
272,051
121,614
1,719,507
3‘3,408
156,946
9,664.379 1,953,439 624,337
11,3i6,139 2,0 3,551 1,130,496
9,202,763 2.164,574 365,920

2,801,836

1,389,734 7,633,450 5,961,513

8ime time 1874

Bar'ey,'

453,237

The importations
at this port for the week ending
10.975' Mar. 1, 1877, and of dry goods
for the corresponding weeks of 1876 and
1.680
173,478 1875, have been as follows:
45,072
ENTERED FOB CONSUMPTION FOB THH WBBK ENDING MAR. 1, 1877.
32.6-0
1875
■1877
1875

253,708

Friday. P. M.. March 5, 1817.

comparatively quiet tbe past week with

the

observed in the
jobbing trade, and some important sales were made in the auction
rooms.
Early in the week, several thousand pieces of worsted
package houses, but increased animation was

Scbeppers Bros., were
offered at public sale, but the goods being out of season tor the
clothiDg trade, prices ruled low, and many of the duplicates were
withdrawn.
On Thursday, 1687 cases of Richmond prints,
amounting to $335,090, were closed out at auction in an hour and
coatings, of tbe manufacture of Messrs.

half.

a

At the latter

most of the

sale, the competition was quite spirited,

leading jobbers in the country were present.

Importations of Dry Goods.

Rye,

bush.

THE DRY GOODS TRADE.
Business has been

[March 3, 1877.

CHRONICLE

and

The

prices obtained tor prints averaged a fraction under 7 cents, less
a discount of 5 per cent, which was fairly satisfactory under the
circumstances. As a rule, values of both cotton and woolen

dry goods

Miscellaneous

.

940

$412,975

398,003
646,5*24
256,184
138,661

1,427

488,298
5C 2,016

901

1,283

235,707

456

661.

1,160

269,735
173,113

469

4,657 $1,801,137

5,044 $1,960,149

7,115 $2,832,875

Value

$520,777

1,277

295,411

Pkgs.

Value.

Pkgs,
1,127

Value.

$927,636
669,965
703,656

901

Total

•

,

,

Pkgs
Manufactures of wool... 1,882
do
cotton ..2,119
do
silk
958
do
flax
1,255

AND THROWN INTO THB MARKET DURING THE

WITHDRAWN FROM WARBHOUSB

SAME PERIOD.

Manufacture s of wool....
cotton..
do
do
silk
do
flax
Miscellaneous dry goods.

Total
Addent’dfor

728
527

562

$168,816

275

76,826

534

292,395
118,442

97
442

2,763

44,641

2,281

97,927
93,159
62,891

4,679
5,044

1,223

3,183
consumpt’n 7,115

2,832,375

rotal thrown upon m’k’t.

420

167.934

215

136,234
152,933
89,903

107
598

$229,351

605

$852,766

3,515

$494,149

1,960,119

4,657

1,801,137

$306,391
150,799

$756,283

DURING SAME PERIOD.

$322,294

40,461

4,812

2.545

$961,167
2,832,375

6,658
5,014

Total...,

180,619
221,860
135,933

360
146
101
164
8<*

$276,885
161,304
18%8»7
131,602
57,257

648
5:2
158
673

Manufactures of wool.... 610
do
cotton.. 782
do
silk
178
586
do
flax
Miscellaneous dry goods.. 289

AddentMforconsumpt'n 7,115

8,172 $2,295,236

9.723 $2,812,915

10,298 $3,618,638

ENTERED FOB WABEHOUSING

807

$812,895
1,960,149

4,657

36,331
116,650
44,621
3,422

$S31,535
1,801,137

5,434 $2,132,672

$3,733,512 11,902 $2,773,044

Total entered at the port. 9,660

$130,571

Imports of Leading Articles.
of prints were
The following table, compiled from Custom House returns,
reduced from ^c. to ^c. in order to meet the market. Foreign
shows the foreign imports of leading articles at this port since
goods were a trifle more active in first hands, and large quanti¬ January 1, 1877, and for the same period in 1876:
ties of embroideries, linen and white goods, etc., were sold at
[The quantity is given in packages when not otherwise specified.]
auction, where lair average prices were realized.
Since
Same

fabrics

were

steadily maintained, but some makes

Domestic Cotton Goods.—The export

Same
Since
Jan. 1,77 time 1876

demand for domestics

considerable shipments were made on
orders, the total exports from this port for the

Jan. 1/77 time 1876

has been less active, but
account of former

ending February 27, having been 1,355 packages which were
distributed as follows: Great Britain, 341; British East Indies,
week

Mexico,
114; Cuba, 103; British West Iudies, 57; Peru, 22, etc. Brown
sheetings and drills were in steady demand and firm. Bleached
cottons moved slowly, but the best makes are steadily held.
Denims, d^ed ducks, tickings, cheviots and stripes were taken in
319 ; British

North Ainericau colonies, 150 ; Brazil, 149 ;

and cottonadea were in good
demand by clothiers and jobbers. Corset jeans were compara¬
tively quiet but steady, and grain bags were rather more active.
Warps, yarns and twines were in moderate request. Print cloths
were weak early iu the week, but improved toward its close, when
extra standard 04x64 makes were quoted at 5c., and 56x60s at4Jc.,
moderate lots to a fair amount,

30

days.

a more

Prints were dull until nearly the end of the week when
the auction sale referred to
Ginghams ruled quiet, but there was a continued good
for cotton dress fabrics, and cotton hosiery was in steady

active movement succeeded

above.

demand

Goods.—Transactions on the part of
clothiers were light and unimportant, but there was a moderate
demand by jobbers for desirable makes of fancy cassiineres*
Buitings and worsted coatings in 3-4 and 6-4 widths. Meltons were
again taken a little more freely, but tricots were quiet. For black
cloths and doeskins there was a mere hand-to-mouth demand,
and sales were limited in the aggregate amount. Kentucky
Woolen

jeans met with moderate sales, and are steadily held in first
hands. Satinets were sluggish but steady, and tweeds were sold
in small lots to a fair amount. Flannels were taken in single

package lots for keeping up assortments, but were by no means
active. Brussels * ni ingrain carpets were in better demand by
both wholesale and retail buyers.
Worsted dress goods continued
in steady request, aud there was rather more inquiry lor worsted
shawls.

Goods.—There has been a fair but not active
demand for foreign goods from the bands of importers and job_
bers. Black colored and fancy dress silks were in fair requesc
Foreign Dry

by retailers, who are about making up
and millinery silks were more active.

their spring assortments,
Staple and fancy dress

goods met with moderate sales. Damasks, towels and other
makes of housekeeping linens,and linen handerchiefs, were fairly
active ; and white goods and Hamburg embroideries were sold to
a liberal
amount privately and at auction. Woolen goods
remained quiet, aside from fine worsted coatings, cloths and doeekina which were taken iu small lots to a fair amount. Hosiery
Ami kid gloves were in steady demand and firm.



Earthenware—
Earthenware.

.

Glassware

Glass

plate

.

Buttons*

_.

Coal, tons
Cocoa bags

Tln'slabs,lbs..

Paper Stock
2,286 Sugar, hhds, tcs. &
140

powders...

433
r'

....

Gambier

Gum, Arabic....
Indigo

1,547

689

657

l,024j
273

403

Madder

291

131

Opium
Soda, bi-carb....
Soda, sal
Sodaash

■

70898
781
329

Hair
-

Lemons

Oranges
NutsT

29,321

163

Gnnnv cloth

778

2,266

9,230

fflnx
P’nrs

205
744

452

1,028
13,371

Ivory
Jewelry, &c.—
Jewelry

7,921

181

Hides, dressed..
India rnbber

371

448
56

Ifnlanses

540

23,277
2,015

Watches

Linseed

....

5.803 Fish
8,872 Fruits, &c.—

179,979
5,824

90

,

Raisins
Hides, undressed..
Rice

$
193,784
9,401
142,195

71,691

Corks

16,963

$
182,370
12,043
98,639

a

11,802
11,767

5,187

Wool, bales

5,3j7j Fancy goods..

3,610
12,202
8,7Si

9,725

Articles reported by
value —

6,863 Cigars

2,404

Gil, Olive

234

258,385
9,561

14,345

Wines

6.741

2,721

Hemp, bales
Hides, &c—

7..

Tea

47,968
426.061

24

Sugar, bxe & bags.

4,587 Tobacco
8,330 Waste
541 Wines, &c—
9:
Champagne, bks.

1.327
3,956

Cochineal
Cream Tartar...

23 967

357,673
179.622
10,939

bbls

380,667

655

...

4,651
9,235
140 510
118,271
2,091,482 1,983,493
20,331
21,711

Steel

87;
5 035

3,735

165 118

Tin, boxes

1,292

4,36V

Drugs, &c—
Bark, Peruvian..
Blea.

4|86*2

730
135

10,918

Lead, pigs
Spelter, lhs

42,617

262,796

Coflee, ha^s
Cotton, bales.

536
93

Hardware

4,395
3:572

1.560
3,63;
53,307
4,113
1,279
1,18
5,162

China

Bristles....

request.
Domestic

Metals, &c.—
Cutlery

China, Glass anc

99,634

34,964
249,4'.'3
153,712
309,079
2,148,617
30,917

Spices, &c.—

63,923
203,298

131,810
362,394
1,343.105

23,940

2,172
14,941

Cassia.

Ginger
Pepper
Saltpetre

34,194
31,041

39,566

19,906

34,382

Woods—
Cork
Fustic
Logwood

185,222

45,579

72,884

4,974

89,029
2,272

Mahogany

7,364
181,655

11,705

Receipts of Domestic Produce*
The receipts

the

same

of domestic produce since January
follows:

time in 1876, have been as

Same
Since
Jan. 1,^77 time 1876

Same
Since
Jan. 1/77 time 1876
*

Breadstuffs—
Flour
Wheat
Corn
Oats

bbls.
bush.
“
“

;.

“
Barley&malt “

Rye

Grass

seed...bags

Beans
Peas
Corn meal.
Cotton

bbls.
bush.
.bbls.
bales.

ILmp

“

Hides

No.

Hop^

bales.

sides.
hhds.
bbls.
Naval Stores—
Crude turp..bbjs.

Leather
Molasses
Molasses

Spirits tnrp

“

Tar

*•
“

Rosin

951 i

1,350

pkgs.

Aslies

'

.bbls.

Pitch
Oil cake....

.pkgs.

440,313
586,137 Oil, lard... .bbls.
439,711 1.558,331 Peanuts
2,083,315 2,754,383 Provisions—
Butter.... pkgs.
869,451
941,279

•

Cheese....
Cutmeats

94,878

21,098

567,03S

818,361

59,864
23,948
87,13:
41,289

38,112

Eggs

18,524

Pork
Beef
Lard
Lard
Rice
Starch
Stearine
Sirrar

211,872
1,496
741,494
13,508
614,6t-3
251

39,606

357,996
29,054

176,885
281
•

579,472

20,706:
703,090

34

3.7S8

4t

<4

.

43,479
2,463

89,401

18.463

14,980

152,174
43,575
226,778
48,165

149,412

612

91,333
196,668

44

43.619

70.131
40.974

a

8,491
68,693

19,140
84,010

7,907
8,101

3,296

it

<4

.kegs.
pkgs.

3,364

9,287
39,091
0,379

67

87

8,668

6,852

54,648
4%

.bbls.
hhds.

Sugar

32,780 TaTlow

pkgs.
4*

Tobacco.
255 Tobacco.... .hhds
6,474 Whiskey ... .bbls.
bales.
43,356 Wool
1,810 Dressed hogs ..No.
...

6,8*0
48,241

1,1877, and for

10,626
25,989
3,463
32,583

7,537
45,778

7,013

24,712
9,285
21,418

9,541
26.273