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AND
HUNT'S
MERCHANTS’
MAGAZINE,
& W * * fe t jj fJfiMpape*,
REPRESENTING THE INDUSTRIAL AND
COMMERCIAL INTERESTS OF THE UNITED
STATES.
YOL. 28.
SATURDAY, MARCH 8, 1879.
CONTENT8
because the conditions in
Europe were such as to make
prices tend in the opposite direction. Do men think so
THE CHRONICLE.
Hard Times and Gold Inflation....
23> Imports and Exports for Jan., 1879 240
Congress and Biennial Sessions
236 United States
Treasury Statement 211
The Cental or New Hundred¬
Latest Monetary and Commercial
little
..
weight
233
English News
241
Bonds.. 248
Foreign Exchange, N. Y. City
Banks, etc
215
Commercial Epitome
Investments, and State, City and
Corporation Finances
which
249
254 1 Breadstuffs
254 I Dry Goods
£58
259
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HARD
We have
the
*
TIMES AND GOLD INFLATION.
to
greenback
hungry laborers of Europe, with
buy American bread to fill their empty
disorganization, which
so
conditioned
But
even
as
.
to be
here the
has been disclosed.
America is
leading the
way in this recovery.
progress must be almost imper¬
from the winter season, to be
early
ceptible, like the change
followed finally, but
inevitably, with the full realization
of
a new
As
a
life.
second
answer
to our
correspondents we would
their assumption, that there is no
improvement yet
observable, is unquestionably incorrect. Ever since
resumption was assured, there has been progress. Dur¬
ing these later months it has become very marked,
not¬
withstanding the constant feeling of uncertainty which
say,
session of Congress has
in prospect also
imparts.
a
entered upon our third month since
the
specie payments/ “ Where is the pros-
now
or
recuperation on this side
more especially in those
depart¬
ments which are
suffering most there. On the other
hand, to some extent, revival here will
help revival in
Europe. But not in a day, or in a month, or in
many
months, is all this to be realized. Much time will be
required before the world can hope to
creep from under
the load of
debt, insolvency, and general commercial
3?lit Cltrouitle.
For One Year,
(including postage)
For Six Months
ao
Annaal subscription in London
imagine that specie resumption
necessarily retarded, and
The Commercial and Financial
Chronicle is issued on Satur¬
day morning, with the latest news up to midnight of
Friday.
TERMS OF
to
stomachs? The industries of the Old World
and of the
New are in these latter
days inseparably joined. With
almost universal
depression the other side of the Atlan¬
tic, we shall find the process of
THE COMMERCIAL TIMES
Cotton
as
inflation in the United States is to set the idle
spindles
of Great Britain in motion ?
Or that the same act can
furnish money to the
Financial Review for
February... 23s) Commercial and Miscellaneous
Debt Statement for
News
February
243
243
THE BANKERS’ GAZETTE.
Monei
Loney Market, F. S. Securities,
Quotations of Stocks and
Rain
NO. 715.
however, take
our
imparted, and
which another
To illustrate this progress,
great railroad interest—an interest
which in the end must affect
so
many others. Even
resumption of
eighteen months ago it was utterly prostrate. Since
perity The Chronicle promised with that
event,” is then the increased freight and
the question
passenger business, that
frequently coming up to us from certain the enlarged
production
resulted
in, and the economies
points of the interior. “ Wheat is no higher. Tobacco in
management
the
which
“is no higher.
newjsystem has made pos¬
Cotton is no higher. There is no
“
sible, have brought into life millions upon millions of
money in any of the earth’s products. Where is
“
your securities, before simply dead. We notice in the
New
promised prosperity ?”
York State report issued this
for
the
roads
week,
As these questions cover a
reported
popular misunderstanding, there, an increase in interest and
dividends
a few
distributed in
words of explanation seem
desirable.
And 1878 over 1877 of about
million
2J
in the first
dollars; and this is
place we would say, we never promised a mere item out of
an immense
that wheat, or cotton, or
aggregate of resusci¬
tobacco, would be higher tated capital. Let our
inquirers measure the new power
three months after
resumption, or that within any for development all this
such time there would be
represents. Trace out its
any perceptible change in action
through
the many different interests and trades,and
either, from that cause.^ .On the contrary, with classes of labor
affected, until the end is reached which it
regard to cotton, about which we know
most, we must inevitably result in, an
have asserted over and over
enlarged consuming capacity
again, that there could by a very considerable
portion
of our people of everything
not, for the present, be any considerable
improvement, produced. This is simply an illustration. We might
“
236
THE
CHRONICLE.
cite other interests not 60 extensive bat
equally progres¬
sive. In brief, however, we will say that at this
centre,
[YOU XXVIII.
taken the real
capital of;the depositors 4nd Other -credi¬
is
Very
real capital that they must make
good the loss Ijlth.
So in 1873 our bubbles as well as our solid
properties
had locked up capital. The whole field of;valued as
immense, and the Bum of nominal viltte then: was prob¬
ably twice as large as the nominal ‘value is to-day.
tors, and the unfortunate shareholder find it
•beyond a doubt general business is decidedly improving,
enterprise is reviving, and the outlook is, as every one
admits, by farinore favorable than a year ago.
In fact, to us justntfw there seems to :be
greater prob¬
ability of a too rapid arid speculative development than
of its being too slow. ^Recovery,
What was substantial and durable in 1873 remains
to be enduring, should
always be slow. If we are not deceived in appearances, now and is increased, but its appraisal is changed.
It is
and if nothing excites doubt as to the
permanency of to the nominal or exchangeable value that the use of
resumption, there is certainly danger in the direction indi¬ currency applies. Hence we find, if the
purchasing
cated.
We are driven to this conclusion from evidences
power of the currency is nearly twice as large as it was
we see about us,
starting with the fact that we have a in 1873, and the sura of all values to be covered and
currency of the value of gold, coupled with the other dealt with by the
currency only about half as large now
remarkable condition that in volume it has
as
was
it
before
the
only once
panic, that the outstanding currency
been equalled in this country, and in
purchasing power to-day is more than three times as large, in relation to the
never.
Perhaps our readers have not fully considered sum of values to be handled with ity as it was five
years ago.
this phase of the situation. The force of facts does not
Do not such circumstances as these bear a
strong
always appear to even the careful reader until placed in promise of an early inflation of prices from
super¬
^proper relation to other facts, or the same facts at other abundance of money—a
stronger promise than can be
♦times and under other circumstances.
♦them briefly. The last
Let
us
look at
Treasury statements, issued this
the data for estimating the amounts of our
'Week, give us
outstanding currency
on the first of April as follows:
outstanding April 1,1879
$324,579,250
National bank notes
United States notes outstanding April 1
.
-
Notes of gold banks outstanding April 1
MGoid coin in the country April 1
’Trade dollars in U. S. and legal tender dollars issued..
Total circulation
We thus have
340,681,016
1,466,920
315,000,000
15,000,000
$1,002,727,186
apparently
thousand millions of
•currency no>w in use, without including $15,986,412 frac¬
tional currency still outstanding, and over
forty millions
-of subsidiary silver
currency issued. Further, it should
be remembered, that the bank-note circulation is increas¬
ing at the rate of about two to three millions a month,
and that the gold in circulation, without
allowing for
■any imports of gold, is also increasing from production
(so long as there are no gold exports) at over three mil¬
lions a month. But leaving all these items out
(as set
•off by the additional holdings in the
Treasury necessary
under resumption), it is sufficient to take the former total
as the aggregate now
existing, say one thousand mil¬
lions of currency, all of gold value, that is each dol¬
lar of it possessing the
purchasing power of gold. Com¬
pare this with any previous periods in our history, and
with the prices of commodities
ruling, and its extent
will be better appreciated. For instance, on the first of
-January, 1873, the legal tenders, bank notes and frac¬
tional currency amounted to
only $748,000,000. Gold
and silver were not part of the
currency, being merely
♦commodities, except the few millions held by the banks
'
one
found in the
history of the three years, 1822, 1823, 1824,
England, following resumption there in 1821. Yet
in
the inflation
on
then and there
the
gold-value
was
one
sweeping in its character
currency which occurred
the most excessive and
of
ever
known, and it caused the*
terrible crisis of 1825-1826, the disasters of which
not
are
yet forgotten.
The facts before
offer
larger superfluity of money
seeking to be employed than the most expansive
greenbacker could hope for with any amount of his sort
of currency. For this not being
redeemable, and being
distrusted, could never gain sway over the business of
the country.
This currency commands every confi¬
dence, as it possesses highest power. Its capacity to
expand values has no check in the fears of those who
accept and use it, and the urgency of capital to find
profitable employment is likely here as elsewhere to
forget its proper caution and conservatism.
us
a
power
When this immense money power
motion, it must be that prices will rise,
shall be in full
for it will create
demand, wisely or unwisely, that will stimulate produc¬
tion and traffic, because on all hands enlarging
capacity
for consumption. Then ought capital to look for its
own safety; but did ever the mass of active
capital in
any conntry prefer safety and small income to large
profits and the chances of safety? Never for a long
period. It is possible that some paper-money enthusiast,
of whom so many have appeared in the
Congress which
has just adjourned, may stir up some agitation of cur¬
rency questions that will scare capital back to its hiding
and counted in their reserves.
As the value of the cur¬
places. We have written only in view of a continuation
rency dollar was then only 86£ cents, the purchasing of
existing conditions.
power of the $748,000,000 measured in gold was only
But after that the judgment.
High prices stop
$647,020,000, against $1,000,000,000 now.
exports of products of agricultural and manufacturing
Even this, however, dees not furnish a fair com¬
industry, and open the doors to exports of gold. When
parison. In 1873 all values were greatly inflated; real the demand for
gold on account of depletion becomes
estate, merchandise, stocks and bonds of railroads and severe it contracts the bank
loans and makes a strin¬
other corporations, and credit in
many forms, bore fancy gency. If the inflation has
gone far and wild, the strin¬
prices. All these values have been shrinking for five
gency becomes a crisis, then a panic, then the long
years. The purely artificial part has been thrown out,
period of depression, stagnation, hard times, and slow
and with it much that once was solid. But
capital was recovery.
invested in the whole of it. It matters not how unsub¬
stantial and worthless were the
shares, the bonds, the
There is
a
moral
to this
story; but
we
think it is
sufficiently plain.
private obligations of debt; so long as they could be
sold or borrowed upon for the
capital of somebody, they
CONGRESS AND BIENNIAL SESSIONS.
represented invested capital to the extent that the
The same habit of mind which causes each succeeding
capital went in. When the City of Glasgow Bank cold winter and hot summer to be
spoken of, after it has
recently failed, but little more of value remained than just passed, as having been
unusually severe, makes the
empty vaults; yet those almost worthless assets bad
patient American people, when drawing a deep breath
.
Mabch 8,
1879.]
THE/CHRONICLE.
m
of relief at the
adjournment of Congress, speak, of the epitaph for the Forty-fifth
Congress, or to assail with es¬
Congress and the last session as having been pecial denunciation the
system which works out such
unusually bad. In its second session, as we)l as in its unsatisfactory results. Yet it is a
simple fact, without
first, the Forty-fifth Congress established small title to
exaggeration, that the sessions of Congress are a dis¬
pleasant remembrance except for some things it might turbance of business
; its assembling is reckoned tho
have done but did not do. The first session
repealed the beginning of uncertainty, and its adjournment is
joybankrupt law, instead of seriously attempting to remove ously received. The fact is
that,
taught by experience,,
its defects; passed the abortive act
forbidding retire¬ the people have no faith in what is
politely called “the
ment of
legal-tenders, and, in defiance of reason and wisdom of Congress.” It is
expected that Congressremonstrance, passed the Silver bill. The second session probably will meddle with what
should be left alone, and
is chiefly memorable for the
thoroughly indefensible neglect what needs attention ; that what it does will bePension bill and the anti-Chinese bill.
Nothing has characterized by recklessness and ignorance, if not
by
been done towards
taking the country out of the silver downright jobbery ; at least, that
nothing
certain
can
trouble, all the bills introduced relative to that subject, be predicated about it. Harsh
or satirical as this
may
except one, having been of a sort which would only sound, it is
proven by the universal uneasiness which
have made matters worse.
The sorely-needed tariff each session
produces. Hence the recent dead-lock, asidereform was made
impossible by unwise handling. The from the merits of the
controversy itself, was a misfor¬
wholesale squandering of
money by the Pension bill tune in
necessitating the extra session of the Fortywill almost
certainly cause a deficit in the revenues, yet sixth Congress, for
which, of course,
is no limit
Congress not only neglected to provide for the deficit, except the desire of its members to there
get away.
but further reduced the future
It is equally useless and
receipts by lowering
unjust to denounce Congress
internal revenue taxes.
The idea
apparently was for its worst shortcomings. Congressmen only act out
that, voting away money being a pleasant thing for the their
natures, and obey the system of which they are
recipients, and reducing taxation being a pleasant thing fruits. We are in the habit of
saying that the country
for the taxpayers, the
popular course for Congress survives mismanagement, because the
people are better
was
to combine
both; as for providing the money than their representatives. This is
probably true, and
for the increased
appropriations, it was only necessary to it has been forcibly shown in the
struggle
over the cur¬
vote that it be
spent, and the Treasury would undoubtedly rency ; but
why do the people send such representa¬
find the money somehow. To increase
taxation, or to bor¬ tives ? No department of government will be above
row more
money on bonds, being unpopular, was not to the standard of
average public common sense and mobe thought of; so the
money was voted out, and the rality ; but how shall the fact that
government appears
Treasury was left to the task of getting it.
so much of the time
below that be explained ? How is
But the mischiefs the
country has escaped must not it that the people, year after
year, send to make laws*
be forgotten. The President killed
the anti-Chinese for them men from whose
work they dare to
expect
bill; each branch has done its share in killing or amelior¬ little
good and dread much evil, for whom they feel like
ating the bad acts of the other; and the usual batch' of apologizing to
mankind, and whose sessions they enjobs have failed through haste or fortunate accidents.J dure as if
they were an infliction of bad weather ?
last
If
The Senate turned the Bland Silver bill into
the mildly
are adequately represented,1 the uneasiness*
poisonous one which became law, and killed the House felt is
unintelligible ; if they are not, there must cerResumption Repeal bill; in the second session, the House tainly be radical faults in a
system of election which
killed the Senate’s Brazilian
subsidy. Among the failed persistently repeats such erroneous and
unsatisfactory
bills of this session are the
Reagan railroad-regulation results.
j the
bill; the bill establishing postal savings banks; bills
alter the
duties
on
sugar, to extend the time for
to
com¬
people
These question^ which are not now raised for the
first
time in these columns, we leave as
suggestions provoc¬
pleting the Northern Pacific Railroad, to authorize rail¬ ative of reflection. The
evils of too much
legislation
roads to construct commercial
telegraph lines, to repair have been felt in each State, as well as in the
country at
the Mississippi levees. That
perennial job, the river large, and the drift of
nearly
all
changes
in
the
organic
and harbor bill, of course, went
through, and the “ pres¬ law of States, during the last dozen
years,
has
been
to
sure ” brought
to bear in its behalf finally saved it from diminish the
quantity of legislation and restrict its
.
the intended veto.
scope. Examples of this are the
constitution of this State and
provisions in the pres¬
others, materially nar¬
emphasized by the simple statement that the bills and
rowing
the
subjects
of
legislation, by forbidding pri¬
resolutions introduced in the
House, during the two ses¬ vate bills and otherwise; the peculiar
provisions of the
sions, number 6,826, and those in the Senate, 1,936.
present Missouri constitution for checking the power of
Probably not more than one-quarter, at most, of these the
majority; and the adoption of biennial sessions*
8,762 propositions were worthy of
consideration, and a Probably most persons will be surprised to learn that in
very large part of them were of the sort known as 26 out of
the 38 States (and all the
Territories) the
private,” or were lacking in public interest, thus
being
Legislatures
meet biennially, and in one of the twelve—
a class which
ought never come before Congress. The Connecticut—a constitutional
amendment for that purhabit of “ introducing ” idle bills has become
pernicious * pose has just passed the Legislature almost unani
in many legislative
bodies; on a regular occasion known mously, and its ratification is not doubtful. A
few
The defects in the
r
manner
of
legislative workings
are
ent
“
“the call
of States,” the
average Representative of the newest States, merely
prolonged, in this re¬
feels bound to present
something of the sort, lest his spect, the custom they followed as Territories. In
existence be forgotten, and bills are even
introduced— nearly all cases, however, the biennial
system has been
as
songs are sung at concerts—“ by request.”
The adopted after observation of its workings
elsewhere, and,
methods of initiating,
digesting, and forwarding legisla¬ so far as we are aw£re, no State has ever returned to the
tive measures are
exceedingly crude, and need thorough old habit. No further
proof need be offered that a
reforming.; but of this we do not now attempt to speak. biennial
meeting is found to be often enough, or that,
We hare no desire to write a
specially unflattering even if there are sometimes incidental evils in having
to
as
.
238
THE CHRONICLE
delay action
subject which is important, but not
justify a special session, such evils are
much less than those of
having an annual turmoil. But
there is a step further, for we find that
twenty-one
States—not all of them having biennial sessions—have
limited the term of session. One makes 120
days the
limit; nine make it 60 days; four, 40 days; the rest,
from 45 to 90 days.
Experience shows that limiting the
number and duration of the
sessions, and narrowing the
scope of legislation, raises the average standard of intel¬
ligence in the legislative body, and that the quality of
the work done improves as its
quantity diminishes.
At present, each
Congress meets annually in Decem¬
ber, the first session having no limit, except that of the
second, which is the 4th of the succeeding March.
Elections and meetings follow thus :
enough
on some
so to
-
•
November, 1876—Forty-fifth Cougress chosen.
December, 1876—Torty-fourth Congress meets
goes out of existence March
in second session, and
4,1877.
goes out of existence March
4,1879.
December, 1879—Forty-sixth Congress
THE CENTAL OR NEW
HUNDREDWEIGHT.
For many years
there
has
past
been a growing dispo¬
sition to get rid of the old-fashioned
and in many re¬
spects inconvenient standards of moneys,
weights, and
measures, which
meets in first session.
to
us as
part of our
is
be
the English-speaking communities to
improve
the old arrangement of weights and measures.
among
irregularities and inconveniences
of hundreds of
been allowed to remain in spite of the
years ago
have
business
activity of these
innovating
The first session lasts
down
come
bound to prevail, and the decimal
system
adopted not only throughout the British empire, but
all over the commercial wrorld.
Until within recent
years not much has been done
mon sense
All the
session, and
have
Anglo-Saxon inheritance. It is long since, on this side
of the Atlantic, we
adopted the decimal system in our
money matters—a system which admittedly has
many
advantages over the old arrangement. In England and
in most of the
English colonies and dependencies, in
spite of this admitted superiority, the old
arrangement
of pounds,
shillings and pence, has been adhered to with
characteristic tenacity and stubbornness. In
time, com¬
upon
December, 1877—Forty-fifth Congress meets in first session.
November, 1878—Forty-sixth Congress chosen.
December, 1878—Forty-fifth Congress meets in second
[Vol. XXVUL
modern
progress which has
times, and
the
been made in
so
many
ordinarily six months; the second, directions. TLis is the
more wonderful that France
invariably three. Is there any reason for doubting that has
long since shown the superior advantage of
the change which has worked so
in State her simpler system. It
satisfactorily
affairs would also work well in national
appears, however, that we are
affairs, properly now on the eve of a
change. In Great Britain the
inaugurated ? If, in place of the usual nine months,
change has already been made; and the presumption is
divided between two annual
sessions, there were a single that
during the course of the
session limited even to four
months, could not all the of weights and measures will coming summer our system
be simplified, and, for the
really public business of importance be transacted, with
convenience of commerce, conformed to that
of Eng¬
proper diligence? A change of legislative habits would
land.
be necessary, but such
change would of itself be an
During the course of last year, the British Parliament
advantage. More time would really be available for
passed an act called “ The Weights and Measures Act.* 9
digesting subjects; crude and private bills would find This
act largely
dispenses with the use of measures iu
less place; the
everlasting flood of idle talk would neces¬ the matter of certain
sarily be shutoff in great part, and the essential measures
would, perhaps, not be shoved over to the
hurly-burly in
which they are now tossed
through. Would not the
natural effect be to
purify the air, and raise the standard
of
membership and action ? Either the first session or
articles of
produce, and substitutes
provided by this act that the Imperial
pound, or pound avoirdupois, should be the unit of all
transactions by weight in
Grpat Britain, and that it
weight.
'
It
was
should be left with the Board of Trade to
determine
what
multiples of the pound should be adopted for
the second could be
dropped—the latter preferably, for
general
use.
Since the passing of the act referred
if Congress met
to,
directly after its election instead of Her
Majesty
the
Queen,
on
the
recommendation
of the
waiting a year, as now, another point would be gained.
Board of Trade, has,
by an order in Council, approved
Thus, the change might be made to apply, for
example, of the “Cental or New
to the
Hundredweight,” as a new
Forty-seventh Congress, to be chosen in Novem¬
denomination of standard, and has directed/that
the
ber, 1880, and to meet in its first and
only session in same shall be a Board of
tTrade
December of that year. The
in like manner
advantage would be that as if it had been contained instandard,
the second schedule of
Congress would then meet fresh from the
“
people,
The
Weights and Measures Act, 1878.” The act came
whereas now a new
Congress may not represent into
operation at the commencement of the present
existing public opinion, its members having
year;
no and the order in Council bears
date February 4, 1879.
later data than what was
expressed in their own elec,
tion a year previous.
Of course, legislation would have According to the new arrangement, the Cental or New
Hundredweight,will mean 100 pounds, not 112 pounds,
to cover two
years instead of one, but the
country is as formerly; and a ton, if the term continues in
gradually working into a more settled condition, in which
use, will
mean not, as
before, 2,240 pounds, but 2,000 pounds. It
administration is a matter of
routine, and we see no im¬ is to be borne in mind that
the old
practicability in arranging appropriations for two years. 112
Hundredweight of
pounds has not been formally abolished; but there
Recourse could be had to an extra
session, if necessary ; Can be no doubt that it will
and although it
finally disappear as a
may be an evil sometimes to have a
denomination of standard.
rather needed session
Henceforward, therefore, >y
deferred, it is also an evil to have a the new
not needed one held.
arrangement,
the
Hundredweight will signify
The question is one of choice of
100 pounds; and the old division of
evils, and if appropriations must be made
56, 28, 14, 7, will
annually there give place to 50, 20, and 5.
might be a short second session,
constitutionally limited
It is - well known that this
to passing
system which has now
appropriation bills, with some practical pro¬ obtained
the sanction of law in Great
Britain, has been
vision—certainly needed—for excluding “ riders ” of all for some considerable
time in use in
sorts from them.
Liverpool, and also
Not
improbably a constitutional in San Francisco, so far at least as flour
and grain were
amendment for biennial sessions would
be
gladly
re¬ concerned.
Nor has there ever been
ceive^ by the States—at least, we can see no
any doubt among
reason
why our merchants generally that the system
the subject should not be taken
adopted by
up for discussion.
I Liverpool
and San Francisco
was
an
immense improve-
March 8,1879. |
THE CHKONIOLE.
ment on the old.
It ‘is not
wonderful, therefore, that
change which has been brought about in Great
Britain, should have begotten a very general desire
for a similar
change here. The New York Produce
Exchange has, as was most becoming, taken the lead
1879.
the
in the matter.
different
239
Circulars have been
sent
Railroad Stocks—
Chic- Rk. Iel. & Pac
Illinois Central...
Chic. & Northwest, com.
Chic. Mi!. & St. P. com.
Del. Lack & West
Central of N. J
organizations throughout the
country, recommending the change.
From most of
the boards
corresponded with, favorable answers have
been received;
only one or two have failed to reply;
and Chicago alone hesitates. The
Chicago Board is not
opposed to the change because of any objectionable
features presented by the new
system, but because it
deems it unwise to take rash or
precipitate action. It is
confidently expected, however, that Chicago will, with¬
out much further
delay, yield its assent, and that by the
6
0436925121
BANK
ments
9 13-16
28-35
17 00-18 00
1 C5-1 08
44-47
9 75-
42%
42%
37%
47
18
64
16
118
10%
106%
10%
12%
12%
35-48
20001 38-1 44
57-59
15 65-
18 00-19 00
125-1 28
43-42
.
50-59%
10 85-11 25
....
102
33%
35-43
->
110%
,
52%
35
50
38
1678.
23 001 18-1 25
.
....
60-85
22 55-22 90
....
MOVEMENTS AND THE MONEY MARKET.
changes in the New
showed
an
erable decrease in
21
101%
73%
MX
3IX
Iron,Am. pig. No.l,$ ton
Wheat, No.2 spring,$ bu
Corn, West, mix, $ bash.
Pork, mess
.The
99
82
Merchandise—
Cotton, Mid. Up., $ lb..
Wool. Am. XX $ lb....
commercial
1877.
131}4
......
all the
to
1878.
York Clearing-House Bank state¬
increase in loans and discounts and a consid¬
legal tenders, the surplus
being $9,212,650, against $17,877,300
reserve on
February
February 1.
on
The money market was
generally
from 1 to 3 per cent,
according to the
quite easy on call, ranging
collaterals, but towards the
close there was a
firmer
slightly
feeling in anticipation of a closer
common agreement
of all the Produce Boards of the market in March and April. Time
money on government securi¬
country, the proposed change will, without even the ties was quoted at 1@H Per cent. Prime commercial
paper was
necessity of special legislation, become general. It in good demand at previous prices, the quotations being 3@4 per
cent for choice
paper.
may require time to bring the new system into
use,
NEW YORK CITY BANK
in the different towns and
STATEMENTS IN FEBRUARY.
villages
throughout the
Union; but there
that
in
matter
in
the
think, be little doubt
international transactions,
especially in the
of grain
and flour, all that is involved
“ Cental
we
system”
illustration, here
new
can,
as
well
will
in
as
find
soon
Great
practical
Britain.
The
Loans an3 diec’ts
Specie
Feb. 8.
$242 280,200
17,849,300
18,633,300
Circulation.
19,486,o00
219,219 200
54,049.800
Net
deposits
Legal tenders.
Sur. res’ve
Feb. 1.
$238,241,400
25#
Range of call loans
over
219,357,300
51,135,400
2
3
3%@4
17,931.300
19,335,900
216,382,600
43,::34,803
14,137,875
1%@3
Feb. 21.
$144,007,000
18,059,500
19.398,8C0
217,271,200
19,427,100
17,877,300
Rate of prime paper,...
Feb. 15.
$244,186,505
45,377,000
12,076,500
<gp3
'•
1
@4%
9,212,850
@5
@4
3
1%@4
3
@4%
has, indeed, so much to, recommend it,
INVESTMENT SECURITIES.
that it will not long be confined to
The amount of
five-twenty bonds called i i during February
international or large
was $100,000,000,
wholesale transactions merely.
representing approximately the extent of sub¬
It will gradually find
scriptions to the 4 p^r ctnt bonds. The business in other
its way into the retail store
; and while it will prove a classes of
government bonds, particularly the sixes and fives of
convenience to those who sell, it will in
many respects be 1881, was very large, and for railroad bonds and investment
a substantial
gain to those who buy.
stocks there was an active demand at
system
FINA N CIAL RE VIE Y OF
FEBR UAR Y.
just passed showed little abatement in the
spiiit of
confidence which was manifested at the
opening
of the year.
The activity in all classes of
investment securities, and the
continued progress in the
subscriptions to the U. S. 4 percent
bonds, indicated the widely different
from that which held
possession of the markets in 1878 and 1877.
The great ease in money, both
present and prospective, and the
improved condition of the railroads after their
large business of
1878, gave strength to speculative
movements, and the stock
market showed a
tolerably active business
previous montLs,
were as
follows:
November.
gc
State bonds
Railroad bonds
Bank stocks
shares.
Railroad and miscel. stks. “
751,910
12,873,600
...
throughout.
Exchange, compared
Neoember.
$7,553,500
1,935.000
12,775,000
1,647
870
3,686,122
3,749,253
The
Januai'y.
$9,151,050
with
February.
$6,224,550
1,65 *,276
1,269,000
25,13 J,300
1...
2....
3...
....
1,992
4,716,495
6,333,282
1876
to
on
or
about the first of March in
each year, .'rom
1879, inclusive
:
STATISTICAL SUMMARY ON OR
ABOUT MARCH
-
1879.
1873.
..
8..
9.
246,716,900
16,456,500
$
19,232,400
Net deposits
246,456,200
33,326,400
19,833,500
213,933,400
213,429,700
$
42,651,800
%)$
5,750,375
Legal tenders
Surp. reserve (over 25
Money, Gold, Exchange—
33,137,900
12,980,9:0
259,100,400
15,533,500
227,100,000
43,227,800
14.951,700
Call loans
3%-4
4-5
2%-4
Prime paper
3*-4
4%-6
4-5
Gold
100
102
104%
Silver in London,
$ oz..
49%d.
56%d
Prime sterl. bills 60
34% d.
days. 4 85%-l 86% 4 83%-4
84% 4 82%-4 83%
United /States Bonds—
5-20 bonds, ’67, coup..
102
105%
20,706,20°
17,1/22,000
224,337,400
.
49,<M3,100
13,634,950
6s, currency
..
4s of 1907,
coupon
121%
102%
106%
100%
101%
101%
N. Y. Cent. & Had
117
104%
71
61%
59%
10-40s coupon
4)<8, 1891,
coupon
RaMroid Stocks—
Jgrig
Lake 8. A Mich So......
Michigan Central
87%
119
103%
9%
111%
•122%
110%
....
..
104%
....
101%
^....
102*4 1C4%
121%
106%
....
121%
10*4% *106% *100%
121 %
....
.
....
104%
106% 10C%
121%
....
Holiday.
122
104%
100%
104%
100% ....
106% 100%
106% 100% 122
....
S....
106% 106%
....
....
....
106% 106%
106%
102%
103%
104%
....
....
....
....
.
Closing
.
..
104% 105
....
105
104% 105
....
101%
....
106% 106% 102% 102*4x102
105 xl04%xl05
106% 106% 102% 102% 10214 105% 104% 105
105% 105% 102
l'J2% 102
lo4% 104% 104%
106% IO63J 102% 102% 102% 101% 104% 105
106%
106%
!*!.* 122“
106% 100
120%
106% 100% 122
106
100
120%
106% 100% 122
CLOSING PRICES OF CONSOL8 AND U. S.
SECURITIES AT LONDON IN FEBRUARY.
ft
If
<i
44
If
44
If
f«
114%
11
85%-4 86
if
If
(.
ff
121%
127%
119%
...
....
102
106%
106% 1C6%
28
,
4
102
106% K6%
27.....'
•4
3-4
5-6
....
....
106% 106%
Consols U.S.
ff
44
for
!
5-20, 10-40 6s of New
Money. 1867.
Feb.
268,480,000
28,498.900
106
106
121%
104%
102%
101% 104%
101% 101%
106
..
Date.
1876.
12*1%
100
102
...
22
23..
Z4
1879.
1877.
121%
100
..
21...
ft
$
Circu’ation
TO
120%
100
S
105% 105%
105%
102
105,% 105%
17..
18
it
New York City Banks—
Loans and discounts.. $
Specie
1, 1876
103
....
....
following summary shows the condition of the New York
Opening...
Clearing-House banks, the premium on gold, rate of
Highest
foreign
Lowest.
exchange, and prices of leading securities and articles of
mer¬
chandise,
...
....
22,109,200
1,874
6e.
cur.
S
106%
102*4
105 xl04% 105
106X 102% ....102%
104X
106% 106% 102J4
102%
106%
102% 102% 102% 105*4
105% 108
102
104*4
105% 105%
102%
104% 106
4
5
7.
feeling which prevailed
FEBRUARY, 1879.
/^-6s,1881—% /—5-20s,Cp.—%,—10-40s—, 5s,’81. ^-4%s,’91^
4s,
reg. coup. 1867. 1868. reg. coup. coup,
ieg. cou/. cou.
xl02
>%
xl05
106X
Feb.
The month
The total transaciions at the Stock
advancing prices.
CLOSING PRICES OF GOVERNMENT
SECURITIES IN
1 96 5-16 104
2
3 96 t-io 104
4 96 8-16 104
5 96 3-16 104
6 96 5 16 104
7 96 3-16 103%
8 96 5-16 103%
9
10 96 3-16
11 96 1-16 103%
12 93 3-1C 104
13 9b 3-16 103%
14 96%
103%
15 96 3—16 103%
•
•
•
•
io3%
16
17 96
18 96
19 96
.
1881.
107
S.
•
•
109
•
•
1
1071, 107 199%
106% 109%
107% 106% 109
107
107
106% 109
106% 1C6% 109
107
106% 109
Feb. 20 96
“
“
“
s..,.
21 93
22 96
23
24 96
25 96
26 96
27 96
28 96
•
“
“
“
“
•
:C6% 108%
106% 108%
106% 108%
106% x7% Open.
.
66
106% 107% Highest 96
106% 107%
1-16 103% 104% '06% 107%
5-16 103% 101% 1G6 «
107%
5-16 103% 104% 106% 107%
5-20, 10-40
Money.
“
106%
106%
107%
x5%
105%
104%
for
;4%s.
10?
..
Consols U.S.
Date.
Lowest 96
Closing 96
*
New
1831. 4X8.
5-16 103% 104% 106%
107%
5-16 103% 104% 106%
107%
5-15 1(8% 104% 1(6%
10:%
S...
5-16 103% 104% 106%
107%
5-16 103% 104% 10o%
107%
5-16 103% 104% 106%
107%
5-16 103% 104% 106%
107%
5-16 103% 101% 106%
.
.
•
•
•
.
•
•
•
107%
5-16 104
107
5-16 104
10
107
109
% 107
109%
1-16! 103% *4* 106% x7%
5-16 103% x4% 106% x7%
96 5-16
«s-iH
L 95%
72>T> l
5s of
1867.
104% 111
109 V 109%
103% x4% 106% 107%
••••
91%
7%
50
43
RAILROAD AND MISCELLANEOUS STOCKS.
115%
18
60%
60%
e
Speculative stocks were active, but the business was somewhat
January, and transactions were not marked by such
excitement and extraordinary buoyancy. With some
exception %
below that of
240
THE CHRONICLE
[Vol. XXVIII.
the advance in stocks
was fairly sustained, but the
manipulation
THE DEBT STATEMENT FOR
FEB., 1879..U
large operations was more perceptible than in the spontaneous
The following is the official statement of the
public debt as
-buying movement of January.
appears from the books and Treasurer’s returns at the close
of
The following table will show the
opening, lowest, highest business on the last day of
February, 1879:
and closing prices of railway and miscellaneous stocks at
the
Interest-bearing
debt.
New York Stock Exchange
during the months of January and
February :
Interest
Bonds
of
«
RANGE OF STOCKS IN JANUARY
AVD
V
Railroad Stocks.
Albany & Susquehanna..
.
77
Burl. Cedar Rup.& North
Canada Southern
-Central of New Jersey ..
45#
33*
79#
Chicago & Alton
do
pref.
Chic. Burl. & Quincy....
Chic. Mil. & St. Paul....
do
do
pref.
•
...
•
37#
77
50#
pref.
...
Del. Lack. & Western....
.
Erie $4 assessm’c paid..
do
assess, p id..
Hannibal & St. Joseph...
do
do
pref.
i-Harlem
:Illinois Central
Kansas Pacific
Lake Sh. & Mich. South.
•Louisville & Nashville...
.
,
*
•
•
88#
4
5
93#
43
(0
61
21#
37#
13#
51#
15#
34
40
55#
*
•
•
145#
pref
•
•
do
do
St. L. & S. Fran
do
do
3**
6#
54*
*5#
58#
61
24
24
53#
49
2:#
•25#
43#
14#
37#
50
41*
15#
43*
tl2
72#
25#
pref
107#
88#
6#
86#
83
82#
6
30
66#
.......
Jersey.......
22
Warren
2*
11
13
7
17#
25#
3#
33#
3#
4#
l:#
63#
7
35
25
40
•
•
*133
1C6
100
....
+10#
15#
8#
*35#
.
81
83
13#
.
.
96#
•
Pennsylvania Coal
Homestake Mining
Mariposa L. & M
do
Ontario Silver
"'Quicksilver
.
•
•
•
15*
34
48
38
35*
33#
101#
98
30#
*29 *
20
*17*
29*
135
26#
1
+137
25
*105#
*46
46
39*
15*
35
1C5
107
....
46#
95#
38#
45
x93
38
74
4#
33
21
136
21#
49*
50
x99
45#
73*
2#
81
.
....
39*
+14#
*33#
105#
49*
50
*x09
42
81
39#
40#
15#
12
33#
35#
109#
105#
48#
50
47
49#
96* 100
45
38*
x80* x85
4#
2*
360
13#
*40#
38#
-
706#
*27*
'
*135
27*
+4#
+3
4"#
12
*33
V7
50
49
100
80
>Feb.
•
“
“
“
“
“
“
“
“
•“
«
“
“
“
days.
40*
x85
4
360
2
4.87*@4.88#
S
3.’!4!84*@4.85* ’4.87*@4*.88#
-
•
•
•
•
•
•
4..4.S5*@4.86
4.88
4.88
4.88
5. 4.85#@1 86
6..4 8>*@4.86
7..4.85#@*.s6#
.4.85#@4.86*
8
9
S
@4.3^*
“
@4 93#
“
@4.88*
4 88#@4 89
“
4.8S#@4.S9
10..4.85#@4,86* 4.83#@4.99
11..4.*5*@4.86# 4.83* £4.89
12..4.85*@4.86#
13..4.8i*@4.S6#
14. 4.85#@4.86*
15..4.85*@4.S6*
60 davs.
“
4.88#@4.89
4 83#-*4.89
4.8814@4.89
4.88*@4.69
;...
17..4.85#@4.
18..4.+5*@4. 80#
19,.4.35#@4 86
20..4.85#@1, 86
21..4.85
@4. 8n
“
22
“
23*.!!!!!**!**’ ....S
24!.4!85 @i! 86
“
“
“
“
“
J.
Q.—F.
Q—M.
131,070,850
55 963,550
144,302,900
12.098,200
132,9 >1,000
16.421.500
255.713,PC
1-5,583,700
Q.-J.
256,313,400
J.
&
25. 4.85
26..4.85
@1. 86
Debt
• * • -»
•
•
been
on
a
this amount,
53,250,500
19,080 450
50,263,400
8,899.900
170,021,600
21,033,700
252,667.200
84,416,300
150,585,600
Which Interest Has Ceased Since
total amount of over-due debt
yet
$5,644,353 is
the “called” five-twenties.
on
Debt Bearing
no
Character of Issue.
Interest.
Authorizing Acts.
Amount.
Old demand notes
July 17, 1861; Feb. 12. 1862
Legal-tender notes
Feb. 25, 1862; July 11,1862; Mar.
3,1863.
Certificates of deposit.. June 8, 1872
T
:
Fractional currency.... July 17, 1862; Mar.
3, 1863; June 30,1864
Gold certificates
March 3, 1863
Silver certificates
February 23, 15:78
Aggregate of debt bearing no interest
Unclaimed Pacific RR interest
4.88 #@4.89
4.88 #@4.89
4.8S#@4.89
4.88#@4.89
4.88#@4.89
...
4.88#@4.89
4 88#@4J9
4.e8#@4.83
4 *63#@4 89#
Range...4.84#@4.86* 4.87#@4.89#
$61,925
316,681,016
46,100,000
15,9S6,412
] 6,'■<79,500
2,308,180
$427,917,0)3
8,227
Recapitulation.
Amount
Outstanding.
Bonds at
Bands at
Bonds at
Bonds at
6 per
cent
Navy pension fund
Total
Debt on
$640,105,250
701,266.650
250,000,000
406,91)0,000
at 3 per cent
14,0 0.0)
interest-bearing debt
2,014,271,900
6,372,930
...
which Int. has ceased since
Maturity.
Debt bearing no Interest—
Old demand and legal tender notes
Certificates of deposit..
46,100,001)
15,986,412
19,087,680
Total debt bearing no interest
Unclaimed P«cific RR. interest
1127,917,033
8,227
*2 448.561.861
...
principal and interest, to date,
presented for payment
including interest due
Treasury, March 1, 1879....'
$2,026,217,541
2,025,896,130
$311,411
9.579,300
Current Liabilities—
Interest due and unpaid
Debt on which interest has ceased
Intere-t thereon
Gold and silver certificates
United States notes held for
redemption of certificates of deposit
United States notes held for
redemption of fractional currency...
Called bonds not matured for which 4
p. c. bonds have been issued.
Cash balance available March
1, 1879
Treasury
Amount
Outstand’g.
Total
6,372,930
326,361
19,087,680
46,100.000
8,319,741
216,628,200
141,635,042
447.292,498
Bonds Issued to the Pacific Railroad
Companies,
Payable in Lawful Money.
Central Pacific
*.
Kansas Pacific
Union Pacific
Central Branch, Union Pacific..
Weetern Pacific
Sioux City and Pacific
$5,622,543
$447,292,493
..
"Character of Issue.
$24,939,176
$2,473,500,040
447,292,498
T«-tal cash in Treasury
the
$24,603,587
326,361
$346,742,041
Fractional currency
Gold and silver certificates
Debt, less cash in
Interest.
Debt—
5 per cent
4# per cent
4 per cent
Interest
Inteiest
paid by
repaid by
United St’s tr’nsp’t’n.
Interest
Balance of
Int. paid
by U. S.
$25,885,120 $16,463,572 $2,516,972 $13,946,600
6,303,000
4,427,523
1,766,462
2,66t,060
27,236,512 11,603,992 6,208,4S3 11,395,509
1,600,000
1,970,560
1,628,320
•
4,330,000
945,000
Maturity.
which has never
outstanding,
presented for payment, of $6,372,930 principal and $326,361 interest.
Of
There is
Demand.
27..4.8554@4 86# 4.68*@4.69#
28..4.85# .4, 86#
•
1,181,777,250 $815,494,650
14,000,< O')
J.
Available Assets—
.Holiday
@4, 86
$
Aggregate of interest bearing debt
#2,014,271,900
Coupons of $50 and $100 bonds are paid annually iu Marcb.
The sizes or denominations of each issue of bonds
are as follows:
(a) Coupon,
#1,000; registered #5,0)0. (b) coupon $1,000; registered
(c) $50, $100 and $500. (d) coupon, $50, $100, $500 and #1,000, $5,000, $10,000.
$1,000; registered, same
and also $5,000 and $10,000.
On the above issues of bonds there is a total of
$5,622,513
of interest over-due
and not yet called for. The total current accrued
interest to date is $18,981,014.
Cash in the
Rutland.—The directors have arrived at an
agreement with the
appointed by the equipment bondholders in
regard to
exchange ot their bonds for bonds of the new issue.
It is
reported that the funding of coupons and reduction of
rates of
interest, as proposed and approved by tbe votes of the
bondhold¬
ers, will enable the
company soon to retire the remainder of the
^floating debt, leaving, when all the bonds authorized are issued at
-the rates proposed, a total annual
charge for interest of $ 165,000.
^committee
M.
J.
J.
d
d
d
d
d
d
d
•
were
FEBRUARY, 1879.
Feb 16
“
19.7
J.
14,015,000
Increase of debt during the past month
Decrease of debt since~Tune*3C.1878
country, including those called,
of the bonds exported.
Demand.
1..4.84*@4.35#
1881
1881
1904
18^5
18871883
1881
1891
$260,000
b
c
Coupon.
*
not
The rates for foreign
exchange were mainly influenced by the
movement of bonds between tbe United
States and foreign
markets. The rates of
exchange advanced until they approached
the specie shipping point,
and it was generally believed that the
bonds returning to the
BANKERS’ STERLING EXCHANGE FOR
T.
J.
Total debt,
EXCHANGE.
excess
18**1 July 14, ’70
1907 July 14, ’70
Total
t Prices asked.
considerably in
Loan, 1881 July 14,’70
Interest-bearing
*80
3
1
'*+
do.
do.
’65
’65
March 3, ’65
.
21
27*
3^
1
12
32
....
106#
21
130
•
39**
.
*65
103#
1
Miu’g....
......
10#
5s. Funded
4#s,
4s,
March 3,
March 3,
J.
a
74
80
12
*33
64
21#
*
....
pref
Prices bid.
32#
38#
20
1:35
•
«...
...
do
pref
Adams Express
American Express
Un. States Express
Wells Fargo Express....
Del. & Hud. CanaL
Pullman i alace
Sutro Tunnel
N. Y. Life & Trust Co...
*
•
10#'
23
29
64
91#
24*
....
Consol. Coal
•
•
.
29
*60
.
'
•
14
5s, 10 40’s
6s, 5-20s of 1865
6s, 5-20S of 1867
6s, 5-208 of 1868
1880
1 81
& J.
& J.
& J.
& J.
& J.
& S.*
& J.
& J.
& J.
137#
Miscellaneous.
Pacific Mail
American District Tel..
Atlantic & Pacific Tel..
•Oold & Stock Telegraph.
Western Union Tel
•Canton
March 3, ’63
March 3! ’64
J.
Registered.
,,,
237#
23#
21#
July&A.,’61
....
13*
63*
2)
11#
38#
6#
136#
....
*159#
37#
5#
10
6s of 18S1
6s of 1881
2*
9
3#
4#
3s, Oregon War
1S74
Outstanding.
cJ
NJ
117
16*
7*
65
84
4
9
S5
4#
9#
7*
107#
3#
36#
88#
136
io r
9
15
16
8
u
42*
86*
3*
126
105
100
10,#
82*
17#
71#
9
9#
*121
*3**
9#
57#
134*
20#
....
22*
7J*
42*
89*
160
13
4#
lstp.ef
U#
35
no
160
10
*150
8>#
1U
1#
10#
.
160
69*
+35
ro
16#
44*
82
June 14, ’58
Feb.
8, ’61
March 2, ’61
Periods.
s-.-
49#
147
5s of 1358
6s of 1881
When Puyabh
3s, navy pens’n f’d,’68 July 23, ’68
51*
135
33
1-6
43
x91
46#
*•>#
87*
Act.
13;*
=
95
158
11*4
56*
87#
2
5
120
7
pref
135
2#
•
13
..
82*
115*
!!!.*
St.L.Iron Mt. & South
St. LouisKans. C.&N...
85#
64#
91#
x
..
:flt. L. Alton & T. II....
19^
56#
8 5#
2#
19
123
101
....
38#
116#
146
x....
x:16
42#
3#
161#
x78
1*2#
117#
7#
12 3
*U0
8.’
110
112#
7#
....
37
47#
37#
>
*145
74#
58
36#
126
14#
38#
69
13
125
159
•
s'8
f5
90#
6#
66#
o
•
#
*80
*29#
55*
38*
73#
5#
75#
1#
6#
125
>
91
(>
67
37
114#
8
127*
48#
to
•
60#
123
140#
76
pref...
?Panama
Pitts. F.W.& Chic., guar.
Wabash
„
r3
65#
87#
32
H7#
115#
1'6#
42#
85 %
79*
23*
xTS
....
117#
48#
31#
81#
Low.
43#
85#
i'4
76#
73#
do
Union Facific...
*
9#
Kausaa & Texas
.Morris & Essex
New Jersey Southern....
N.Y.Cent.& Hud. River.
N. Y. E evated
N.Y. N. Haven
H
*Ohio & Mississippi
U« ited New
88
69
^Michigan
Central
Mo.
do
79#
105#
111#
34#
74#
49#
119
22#
37*
13#
34#
141#
80#
prf. $2
Rensselaer & Saratoga
58#
43#
.
*2}
58
46
6
....
*81
*5
45#
120#
34#
84#
Cleve. Col. Cin & Ir-d
Cleve & Pittsburg, guar..
•Columb. Chic. & I. C
*2#
33#
78#
-Chicago & Rock Island..
Dubuque & Sioux City
•
111*4
^Chicago & Northwest....
do
77
22
February
High. Feb.28.
,
Auth’rizing
Character of Issue.
FEBRUARY.
—Janui iry. —
Jan. 2. Low. Dnrh. Jan. 31,
—
1,117,808
1,136,197
1,024,651
73,142
9,367
83,643
1,014,665
1,126.830
941,002
$64,623,512 $41,773,745 10.658,076 $31,115,668
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 6 per cent interest in
currency, payable January 1 and July 1,
and mature 30 years from their date.
IMPORTS AND EXPORTS FOR JAN., 1879.
Statement, by Customs Districts, showing the values of mer¬
chandise imported into, and
exported from, the United States
during the month of January, 1879: ./ '
March
THE CHRONICLE.
8, 1879.]
-r—Expo rts.—
Imports Dom’tic
For’b
Customs
Districts.
S
Alaska, A.T.
ACmrle, NC.
ATxdria.Va.
*
•
•
»•*
•
®
•
•
•
•
.,
•
•
Mobile, Ala...
Montana, Ac..
Nantucket,Me
Natchez, Miss
*
•
•
3,«9
Bc’l&W’nBI
•
•
•
•
Bnrl’ton, NJ
VIne’t, N V
Cuatine, Me.
•
•
195,845
23,282
5^059
7,iio
;;
•
•
Ch’etone, Va
Chicago, Ill.
Corpus Chris
Cuyahoga, O
•
•
•
•
•
•
•
•
•
•
31*133
42^930
51,805
•
Duluth, Min
Dunkirk NY
©
EastDist,Md
Edgart'n.Ms
Erie, Pa....
•
Fairfield, Ct
»
^
*
* •
m
m
m
m
•
•
•
•
.
*
F. Riv. Mass
•
•
•
1*,158
2,164
451,002
...
•
•
•
•
•
•
•
•
•
.
•
3,198,439
7,400
252,003
n‘,i2o
....
....
George’n,S C
*
Glou’ter, Ms
GtEHar, NJ
Huron, Mich
Kennebk.Me
Key West, F
L E Har, NJ
....
•
•
•
•
88,005
7
•
•
•
....
70,022
^
♦
^
^
Milwauk, W
Min’sota, M.
^
m
m
.
...
Comparative statement
2,441,053 1,717,18!
5,952 i 2,480,851
C0*,i94
K4TESOP 840H4N08 if LONDON AND ON
LONDON
AT I. «TRST D4TB9.
UXUhANitK aT
All other diets
Texas,
were
of
the
OH—
•
•
•
151,191
•
223,332
•
14,735
S22,ii8
•
•
•
•
•
•
l,203,it9
57,303
year
»
*££0
7,445,231
Excess of exports over imports
$25,876,854 $175,555,357
Excess of imports over exports
Gold A Silver {coin A bullion).
Exports—Domestic
Foreign...
$1,493,393
764,011
Total
$6,533 231
3,972,894
$2,257,40) $1P,5%,155
1,585, '11
1 ,716,421
Imports
Excess of exports over imports
Excess of imports over exports
Total Merchandise and Specie.
Exports—Domestic
Foreign
Total
$671,698
of
ended
1,2 il,857
8,193.8.^9
$
2,210,266
$33,539,829 $135,099,523
........
$1,230,996 $15,771,354
522,753
3,106,071
$3,753,754
1,190,964
$1,962,790
$18,817^425
13,935,445
$4,941,980
$60,088,108 $426,805,2*5 $71,268,228 $402,844,799
1.5o8,446
11,418,125
1,724,615
11,299,970
$414,144^769
273,503,261
following
statement from the office of the Treasurer for
this week.
It is based upon the actual
returns from Assistant
Treasurers, depositaries and
was
issued
ents of mints and
assay
superintend¬
offices.
LIABILITIES, MARCH 1.
Fond for redemption of certificates of
deposit, Jnne 8, 1872.
Post-office Department account
Disbursing officers’ balances
Fund for redemption of notes of national banks
“failed,”
“in liquidation,” and
“reducing circulation”
Undistributed assets of failed national banks
Five per cent fund for
redemption of national bank notes
Fund for redemption of national bank
gold notes
Currency and minor coin redemption accouut
Interest account
...
.....
Interest account, Pacific Railroads and L. & P. Canal
Company.
Treasurer U. 8.. agent for paying interest on D. C.
bonds
Treasurer’s transfer checks outstanding
-
25.23f4@25.33ad
Feb. 21.
cheques
25.26
12.iK@I2.2i4
Feb. 21.
short.
12.10
RATE.
mos.
Bhort.
3 mos.
...
44
Berlin
44
Hamburg
4%
Frankfort
44
44
44
Madrid
25.42.Jtf @25.4
14 4Jsd &l2.4fd
•25.45 @25.50
<0.6! @20.65
20,61 @20.65
20.61
©20.15
23 @2
ll.92atf@ll.97K
46
46
@16)tf
4814U46/3tf
....
Feb 21.
Feb. 21.
Feb. 21.
Feb. 21.
Feb. 21.
Feb. 21.
Feb. 20.
Cadiz
%l
Genoa
Milan
44
28.15
44
@28.20
Feb. 21.
Naples
44
28.15
28.15
@28.20
Lisbon
Feb. 21.
Feb. 21.
90 days.
New York
@28.20
Bom oay
•
60
•
•
days
Calcutta
44
Hong Kong..
•
Shanghai
•
•
...
•
•
«
short.
>25.26
4
*
*0.46
44
20.46
20.46
44
3 mos.
%
4
•
3 mos.
••
44
23
116 £0
47
:7.ib
27.10
27.70
51X@52
....
Alexandria....
•
U. 7 V,d.
1 s.
7Xd.
•
....
Feb. 21.
Feb. 20.
Feb. 20.
Feb. 20.
Feb. 19.
Feb. 19.
60
3
our own
days.
mos.
6 mos.
44
44
44
4*86 K
93?*
Is. IfdtL
Is. 7%d.
3s. ?ytd.
4s. 11 \d.
correspondent.]
London. Saturday, February 22, 1879.
7 Mos.
UNITED STATES TREASURY
STATEMENT.
March 1
3
..
1878.
Month
Excess of exports over imports
$26,543,762 $173,$95,0*1 .$35,502,619 $140,641,506
Excess of imports over exports
The
TIME.
LFrom
$61,656,554 $438,2>3,100 $72,392,543
35,107,192 261,928,309
37,490,224
Imports
ehort.
February 25, 1879.
$53,391,145 $427,712,215 $69,239,089 $395,267,344
35 6(9 260 25 *,567,816
33,522,251 252,151,858
Imports
RATE.
immediately preceding:
January.
Jan. 31
$58,591,710 $423,272,014 $58,037,212 $387,073,445
804,435
Paris
Paris
Amsterdam.
Amsterdam
Anfwerp
•
$138,092.
—1879.—
Month
7 Mos.
of
ended
January.
Jan. 31.
Total
EXCHANGE ON LONDON.
LATEST
DATE.
TIMS.
St. Petersburg.
Vienna
imports and exports of the
yai.xjv9.—Corrected to
.
LONDON—
FEBRUARY 21.
n
corresponding periods of the
.
16,063 57
690,848 30>
ptouelargl ©uramerciaX guglisTx Uetvs
United States for the month ended Jaa.
31, 1879, and for the
seven months
ended the same, compared with like data for
Exports—Domestic
Foreign
'
OO
67
53
98-
2,655
the totals for the month of January:
Imports...$33,522,231 I Domestic exports.$58,594,110 I Foreign exp’ts. $801,435
Merchandise.
357 OO
9,425.000
867,157
331,813
4,586,^8
€8,212
14,034
are
specie
19,5i 5,767 00i
16,115,893 2B.
400,230 00
1,**76,820 OO
72,650,231 65r
8, *19,741 OD.
10,140,4 9 76
92,815 00
128,120 5S
249.586,805 221,451,618 l*i
*'
946,000 :00
$530,196,550 05.
-
exports for Brazos,
following
$133,265,559 43
.
Speaker’s certificates, Forty-fifth Conpress
Deficits, unavailable funds
.“.
.
.
.
^
15.467
foreign
_jy>30,196,550*05
_
-IT—"—
..
.
a
-"%
ASSETS, MARCH 1.
Gold coin and bullion
Standard silver dollars
Silver coin and buliion
Gold certificates
Silver certificates
United States notes,.v
U. S. notes (special fund for
redemption of fractional currency).
National bauk notes
:
National bank gold notes
Fractional currency
‘.
D*» osits held by national bank depositaries
Nickels and minor coins
New York and San Francisco
exchange.
One and two-year notes. <&c....
Redeemed certificates of deposit, June 8, 1S72
Quarterly interest, checks and coin coupons paid
Registered and unclaimed interest paid
,
U. 8. bonds and interest
i
Interest on District of Columbia bonds
Pacific Railroad interest paid
....
m
^
3,142
....
89,007
....
Machias, Me
Mar’hcad, M
Miami, Ohio
Mic’gan, Mh
M’town, Ct.
.
.
.
•
.
....
224,576
•
•
•
S.Francisco.C
Savannah, Ga
S. Oregon, Or
St.Aug’tine.F
St.John s, F..
St.Mark’s, F.
St.Mary’s, Ga
Stonington Ct
5,396 Superior, Mich
Tap1 nock, Va
Techt, La
Vermont, Vt.
Vicksb’g Miss
War boro, Me
Willamette.O.
Wilm’ton. NC
Wiscasset, Me
York, Me
....
132,826 2,863,614
Gcorge’n.DC
*33
38,85-2
94,044
....
.
'
..
....
#
'"••an
Galvest’n, T
Geue8ee,NY
„
*
...
....
Fernaudina.
F. Bay, Me.
the
•
...
102,718 6,106 Pt Sound, WT
Richmond, Va
Saco, Me
S. Harbor, NY
Salem, Mass..
Saluria, Tex..
San Diego, Cal
Sandusky, O.
^
,
v
..397,068,409 80—436.957,665 7S^
..,
•
Providence. RI
Detroit, M’h
.-v»
.
Balance, including bullion fund
3,399
60,699
Philadelphia;.
•
•
9,741 CO
5,6 22.54 3 11
6,699,29187
19,087,680 03
...
•
River, Miss
Pensacola, F..
P. Amboy, NJ.
Petersburg, Vs
...
.
Delaware, D
•
•
Plymouth, Ms
21,015 10,662 Portland, Me..
Po’moutti, NH
17,167
•
•
6,660
85
1,828,417
P’quoddy, Me
....
•
•
•
•
•
•
74
P.
54,180
69,285
8,312 2,851,651
Charlstn, SC
•
•
22,141,806 484,272
200.627
Oswego, NY..
Pamlico, NC..
P del Norte, T
•
....
...
Cfcmpl’n.NY
•
•
•
*332
10,912* 816
•
•
,
C
•
....
,,,
•
Bransw’k Ga
Buff Crk,NY
•
•
;
437,195
—
redemption of fractional cur’ncy $8,5
Interest due and unpaid
Called bpads and interest
Coin certifica' es....:
.......
79,346
.6,170
•
....
Belfast, Me.
Boston, Ms..
Brazos, Tex
Bridget’nNl
•
Special fund for
848,79*2
*
-
...
Treasurer’s general account—
$
Newark. NJ..
-
N Bedford, Ms
1,474 Njjnryport.Ms
Nw Haven, Ct
N London, Ct
N Orleans, La
Newport, R.I.
New York,NY
Niagara, N.Y.
2,534,537 2,656,512 84,512 Norfolk, Va..
*
99,765 125,284
Oregon, Or...
O’gatchie, NY
•
’•*
The
.
$
72$, 464 3,378,487
Bangor, Me.
B’stable, BT
Bath, Me.
The
•
•
.
-Exporta.Imports. Domestic
IFor’n
■
Baltimore..
*
^
•
•
....
Arooet’k.Me
^
^
^ #
•.
•
$
•
-
Customs
Districts.
‘441
$4",10O,r0O 00
2,361,065 74
15,194,152 47
11,74^,601 75
876.900 82
13,378,633
41
1,120 OO
4,810 06
168, J31 50
360 00
58,864 12
3,313,411 4J
The
revenue payments are still the
leading cause why the^
present value of money, low as it is,is maintained. The demand
for strictly commercial purposes is
diminishing rather than><
increasing, and it is almost certain that the
have to be reduced
rates of discount will
as the dividend
money is distributed
The probability is that during the summer*
months the money market will be characterized
by considerabledepression. There is now no enterprise, either in the commer¬
cial or financial world, and there seems to be no
hope of any
immediate departure from the
policy of reserve and caution
which has been so long adopted. Money, though
cheap, is not
easily procurable, except upon securities of acknowledged sound¬
ness; and, consequently, the majority of merchatts have to con-*
duct their business with great
This is, no doubt„.
prudence.
satisfactory up to a certain poiot, but enterprise and judicious
risks are sometimes desirable, the “
nothing venture nothing
have” policy not being always very profitable. But the method
in which trade is now conducted, and the low
prices which are
current for nearly every commodity, must
produce an easiermoney market even than that which now prevails, and it seems
to many probable that the
money market of this country will
during the summer months rule as easy as it did in 1876. The
Bank returns recently published show somewhat
distinctly that
this is likely to be the case.
The reserve is rapidly increasing,,
and now amounts to as much as £17,005,797, while
the total *upply of bullion has increased to £31,863,92^ At the commence¬
ment of the year, the former was
only £10,306,351, an 1 the latter,.
£23,038,361. These are important changes, and the movement
is still in progress.
There is evidently more confidence through¬
out the country, and the notes and coin which had been sent
away during the crisis are now returning in considerable quanti¬
ties. A large reserve is therefore looked forward to, and in the
in
as soon
April next.
absence of
a
demand for money
per cent rate seems
for mercantile
purposes, a two^
scarcely to be avoided.
Although the Bank of England, owing to the revenue pay^
meats, eoj >ys considerable control over the money market, thev
v
242
THE CHRONICLE.
total of “other securities” has been diminished
by £891,651.
The open market rate of discount is
nearly equivalent to that
current at the Bank,
being about 2$ per
popular belief is that by
larger proportion consists of loans.
The
following
the present quotations for
money :
i*er cent. I
Bank rate....
Open-market rates:
30 and GOd-iys’ bills
Open-market
j
3
Per cert.
4 months’ bank bills
2#Q3
6 months’bank bills
2#@3
4 and 6 months’ trade bills. 3 (23%
I
2#@2#
3 months’bills
rates:
are
!
The rates of interest allowed
by the joint-stock banks and
discount houses for deposits are as follows:
Per cent.
2
2
Joint-stock banks
Discount houses at call
Discount nouses with 7 days’ notice
Discount houses with 14 days’notice
Annexed is
a
2#
2%
statement
showing the present position of the
Bank of 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 mule twist, fair second quality, and the
Bankers* Clearing House return,
compared with the four pre¬
vious years.
1879.
£
Circulation, including
Dank post bills
2^,871,136
coin
17,005,797
Coin and bullion in
both departments
31,663,922
Proportion rf reserve
to liabilities
46-38
Bank-rate
3 p. c.
Consols
96#
...
English wheat,av.price
17,672,333
13,401,733
14.5SI.064
11,865,745
21,730,793 26.758,304
23,062,580
48-11
2 p. c.
2 p. c.
95#
38s. Id.
4 p. c.
95#
50s. ltd.
91#
51s. 0d.
42s. 8d.
6 5-16d.
Mid. Upland cotton...
5 5-16d.
6#d.
6#d.
No. 40 mule twist
lUd.
8#d.
lid.
Clearing House return £109,664,003 116,433,000 90,931,000
lU/id.
87,835,000
-
no
inquiry having been experienced for India and the Continent.
The demand, however, has been far frt>m
active, the steamer for
the East having taken out
only £80,600. Mexican dollars have
been in good demand for
having taken
out £57,268.
sold.
Bar Gold, fine
Bar Gold, reflnable
s.
d.
77
77
9
78
73
....peroz.
76
6V4 a
3# a
peroz.
76
3# a
Bar Silver, fine
per oz. standard, nearest.
Bar Silver,
containing 5 grs. gold.per oz. standard, nearest.
Mexican Dollars
o.
Spanish Doubloons
silver.
Chilian Dollars
Quicksilver, £6 5s.
per oz., neirest.
per oz , none here.
Discount, 3
The
weekly sale of bills on India
£450,000 being allotted to Calcutta.
®
10# a
9
held
a
..."
a
***..
on
England will
of the
government, tenders
the customary amounts.
Annexed are the current
receive
for
Wednesday
Fxiday next, on beha’f
£1,590,000 in Treasury B.lls in
on
rates of
discount
at
Fans
Brussels
Amsterdam
Berlin
Bank Open
rate, mark’t.
p. c.
p. c.
8
2
3
2#
3#
b#
4
2
2
2
Hamburg
4
Leipzig
4
4
Frankfort.
Genoa
Geneva.
4
3#
2*
3*
3#
®2#
@2#
the
St. Petersburg
Vienna and Triesle...
Madrid,Cadiz and Bar¬
celona
Lisbon and Oporto....
New York...
Calcutta
Copenhagen
rate,
p. c,
6
Open
mark’t.
p. c.
4
4# 4
<ft4#
6
5
@7
@6
@5
6
5
4
8
4@4#
4@4#
The stock markets have been
greatly wanting in animation and
have, to some extent, been devoid of interest. A
prominent
feature has been a
fairly active market for American railroad
bonds, the value of which has further
improved. Although
business has not been active, the tone
has, on the whole, been
firm, and a fair number of investments have been
made.
Business, however, is conducted with caution, and
very little
speculation is in progress.
and
in
some
realized rather
scarce,
transacted,
qualities of produce have
Choice English wheat is still very
instances the better
more
money.
and is hell at late
rates.
The firmness of the
mar¬
ket for choice wheat is
partly due to the fact that there is a
demand for it for seed.
The weather has again become
wintry,
and there has been a heavy fall of
but there
are no severe
wheat
ment of the season, it is estimated that the
following quantities
of wheat and flour have been
placed upon the British markets
since harvest:
Imports of wheat
Imports of flour
Sales of home-grown produce
1878-9.
1877-3.
1876-7.
cwt.
cwt*
cwt.
cwt*
17,836,430
2,357,038
21,659,500
29,136,383
50/88,180 51,327,316 42,362,958
959/03
1,001,410
599,387
53,306,023
50,028,572
41,763.581
53,185,935
48s. lid.
46*. Id.
23/23,385
3,719,395
28,197.342
4,074,824
23,745,400
Total
Sxports of wheat and flour
Result
Aver, price of Eng. wheat for season
19,055,200
50,325,933
40s. 7d.
53*. 6d.
The
1875-6.
3,295,637
20,674,000
120,088
following figures show the imports and exports of cereal
produce into and from the United Kingdom since harvest, viz.,
from the first of September to the close of last
week, compared
with the corresponding period in the three
previous years;
IMPORTS.
..cwt
Barley
1878-9.
1877-8
23,521,385
1876-7.
28,197,512
17,836,4.0
6,303.398
5,747/ 0?
Oats
Peas
Beans
Indian Corn
Flour
7,463,077
5,754 152
919,548
1,941,263
13,823,080
4,074,804
821,695
509,894
13,832.067
3,719,395
914,563
68,6 6
48,953
Barley
Oats
Peas
Beans
Indian Corn
Flonr
978,317
9,4 3
5,036,761
713,442
2 074,955
15/ 22,216
?,867,0i8
30,550
560,2 i
16,180
63,513
13,497
66,947
15,347
3,650
10.735
155,291
45,045
51,211
23,053
The table below shows the extent of
flour into the United Kingdom
ber
6,933,673
' 1875-6.
29.133,3C6
5,201,249
4,760,854
857,726
1,862,080
9,864,940
3,295,6o7
EXPORTS.
cwt.
110,064
14,195
140,290
16,020
12,761
4,857
255,619
19,123
21,093
10,024
imports of wheat and
since harvest, viz., from Septem¬
to January inclusive, ai.d also the
principal countries whence
supplies wpre derived :
principal
Bank
all rental taxes, and other
There has been rather a better
feeling in the wheat trade this
week.
An increased amount of business has been
the
foreign markets:
cover
charges, including maintenance of independent organization,
together with interest on new prior lien bonds, issue required for
the payment of the receiver’s
indebtedness, changing guage of the
road, purchase of adequate equipment, and other
necessary
purposes, and interest on Ohio bonds, if not paid off.
2. All
further net revenue beyond this
point to be divided between the
two companies, in the
proportion of one-third to the New York
Lake Erie & Western Railroad
Company, and two-thirds to the
re-organized Atlantic & Great Western Railroad Company.
Wheat
The rate obtained was Is'
7 5-16d. the rupee, and tenders at that
price received 20 per cent.
A better demand for the means of
remittance to the East is there¬
fore indicated.
The Bank of
minimum rental, sufficient to
fixed
Wheat
.
a
..
Western Railroad
....
a..!.
50#
50l/i
48#
Reconstruction
.
a.
per cent.
was
d
«.
per oz. standard.
per oz. standard.
per oz.
peroz.
South American Doubloons
"United States Gold Coin
German Gold Coin
Railway
following basis, viz.:—1. The New
Company to pay to the
re-organized Atlantic & Great Western Railway Company a fixed
York Lake Erie &
China and the
Straits, the weekly
Prices have, therefore, some¬
what improved.
The following quotations for bullion are from
Messrs. Pixley and Abell’s circular:
steamer
Western
During the week endei February 15, the sales of home-grown
in the 150 principal markets of
England and Wales
amounted to 62,239 quarters,
against 40,095 quarters last year;
and it is estimated that in the whole
Kingdom they were
10,687,323
249,000 quarters, against 160,380 quarters in 1878. Since harvest,
22,064,633 the sales in the 150
principal markets have been 1,369,927 quar¬
ters, against 1,097,334 quarters; while in the whole
Kingdom it is
3# p. c
computed that they have been 5,479,700 quarters, against 4,397,93#
41s. 6d.
500 quarters in the corresponding
period of last season. Without
7#d.
Is Od.
reckoning the supplies furnished ex-granary at the commence¬
97,080/00
demand for bar gold for
exportation, and
only a few sovereigns have been sent to the Cape of Good
Hope
and to South America.
The imports have been
considerable, and
the Bank of England has, in
consequence, received a large
supply. The silver market has somewhat improved, a better
There has“been
Great
that after the reconstruction cf the
company,
a lease to the New York Lake
Erie & Western Railroad
Company
will be concluded
upon the
announce
frosts.
£
26,577,480 25,680,568
6,857,7 il
8,910,416
6,676,0 3
23,152,710 18/48,384 17,559,329
16,026,176 13,885,914 13,603,784
17,576,949 19,461,497 18,185,042
4734
&
snow;
1875.
'
£
27,457,610
21,529,721
15,203/01
Government securities. 14,68^,528
Other securities
23,150,931
Reserve of notes and
1876.
£
26,581,674
6,5 ?4,776
7,511,766
deposits
1877.
£
30.136,861
Public deposits
Other
1878.
Atlantic
Trustees
The falling off in
cent.
discount business would appear to be
general, but the total of
“other securities” at the Bank is still as much as
£28,150.931,
though it is not stated how much of it consists of loans, and how
much of discounts.
Owing to the slackness of trade, and to the
limited requirements of
merchants, the
far the
The
[VOL. XXVIII.
our
WHEAT.
Russia
United States
British North America..
Germany
France
Chili
Turkey,
Moldavia
1878-9.
1877-8.
Cwt.
Cwt.
4,338.382
11,342,298
1,583,475
2,014,234
4,326,717
11,039,764
3,777
57,192
and
Wallachia
Egypt
British Tndia
Other countries
2,621,255
2,959,607
1876-7.
Cwt.
1875-6.
Cwt.
4,161,406
5,579,112
5,403,639
9,053,273
953,574
2,086,268
631,513
140,266
2,496,097
876,018
50,513
182,596
152,047
632,204
121,647
121,4 >1
512,3'8
138/04
243,791
981,090
1,763,183
991,381
1,6C0,224
473/62
795,156
3.057,695
632,219
20,886,380
758,650
1,270,390
1,764.199
25,489,341
15,364,635
26,2 3,698
725,917
490,839
449,031
404,500
1,017,5:6
187,856
~2/03/2l
FLOUR.
Germany
France
United States
British North America....
Other countries
450,8
..
..
Total
The accounts of all. the
1,6'*\332
183,759
1,164,381
878,308
.1,030,913
502/ 57
88',877
141,312
613,435
3,611,927
2,631,320
244,085
669.504
494,445
principal English railway companies,••
except the Great Western, have now been issued, and the results
March 8,
THE CHRONICLE.
1879.]
they show, when compared with the corresponding period of 1877,
the whcle, very satisfactory. At the same time, although
the dividends indicate that, despite the great depression which
has prevailed, the trade of the country has not become
materially
worse during the
past year, still there is no doubt that rigid
economy has had to be practiced in order to maintain the
dividends. The shrinkage in value of coal, iron, &c., together
with reductions in wages, has alone rendered this possible,
except
in some few instances where the lavish capital expenditure
of
the past two or three years has given room for
savings of a still
are, on
more
extensive character.
one or
two cases
It must also be remembered that in
adventitious circumstances, such as the payment
of the
Telegraph awards, has not been without effect on the
Taking the figures for the principal lines, it appears
that the total receipts have amounted to
.£22,057,979, of which
£9,737,691 was derived from passenger traffic, and £11,561,777
from goods and mineral traffi *, being an increase of 1*45
per cent
dividends.
243
The
following statement shows the increase or decrease of
train-mileage, and the train-mile earnings both from passenger and
goods traffic, compared with the corresponding period of last year,
and also the proportion of passenger
train-mileage to the whole.
Passengers.
,
4
Trainmileage. 1878.
d.
57-7
*90,841
55:3
*65,522
Northwestern
Northeastern
Midland
.*187,155
Great Northern
.**78,499
Lancashire & Yorkshire. *60,374
Great Eastern
.♦100,995
Sheffield
*23,419
Southwestern
Southeastern
.*184,014
London and Brighton... .♦142,834
L. C. & Dover
*71,583
.
...
.
.
*43,102
65’2
856
63 3
71 9
98-1
*3,328
47*5
.
Metropolitan
North Staffordshire
*
Increase,
...., .
Propor-
Train-
tion.
mileage.
576
50
39
-
37
49
54
63
52-9
52*4
eoo
5*2'6
32*0
60 6
30*8
.
Train mile
1377.
d.
59*1
51 -6
492
56-6
53 7
/—Goods & Minerals.-^
0
,
Train mile
earnines
+223,615
+526,535
*374,666
*169,699
63*4
62 7
+172,205
100*3
+2,614
+62,668
76 6
46
70
89*9
64*8
70*6
104*4
47*8
earnings
1878.
d.
82*2
80*1
75
75
81
63*8
74* 1
1!5*4
101 6
94*3
*29,708
*33,744
*6,522
*2,121
95
63
•
+19,874
•
1877.
d.
81*2
79*7
64*0
63*5
96*1
75*3
62*6
709
118*5
102*0
918
.
107*6
106*8
t Decrease.
under the form
r head, and a decrease of 133
Subjoined is a table showing the increase or decrease of expen¬
per cent under the
latter, so that the actual decrease on the total amount is equal to diture under the three principal heads, viz.: Maintenance,
only -11 per cent. The passenger traffic continues to steadily permanent way, works, etc., repairs and renewals of rolling
increase on nearly all the lines in question, while the decrease of stock, including locomotives, and general traffic
expenses, as
goods and m'neral traffic is only partial and, except in the case of compared with last year; and also the train-mile expenses, and
the Northeastern, not so serious as
might have been anticipated. the proportion of working expenses to gross receipts, both for
The working expenses have amounted to
£11,354,146, as against the past half-year and for the corresponding period of 1877:
Increase or Decrease.—, Expenees per Proport’n of
£11,467,309 in the same period of 1877, being a decrease of £113,Permatrain mile
Repairs Traffic
work’g exp.
163 or nearly 1 per cent.
nent
and
ex1878.
1877. 1878.
Analyzing to some extent the expenses,
1877.
renewals. Denses.
d.
P. c. P. c.
d.
way.
it is seen that, on the whole, considerable
savings have been Northwestern
*12,586
+ 17,560
53*6
37*7
53*9
38*2
.+29,*40
effected under the head of maintenance of
Noitheastern
51 *8
37*4
40*2
,+50,103
+35,141
54*8
+30,716
permanent way, works, Midland
31*1
32*2
52*6
52*8
+23,935
+3,041
*9,426
&c., but that the amount expended on repairs and renewals is a Great Northern
*2.442
31*2
31*7
53*2
53*0
*11,665
♦16,763
& Yorkshire
+235
416
52 7
40*8
*10,738
53*4
+15,127
nearly constant quantity, while the general traffic expenses more Lancashire
Great Eastern
+ 3,864
81*7
31*8
53*2
52*5
♦8,047
*2,418
23 0
23*1
48*1
48*1
especially reflect the fluctuations in the bulk of the business Sheffield
+5,264
♦3,347
tl,225
Southwestern
33*5
32*5
51 5
56*0
transacted. The running expenses, viz.—those connected with Southeastern
*745
42*8
*7,241
42*6
460
440
*3,904
London and Brighton.. *6,233
+308
the working of the locomotives,
32 2
27*5
43*0
44*7
*H,412
have been reduced about 4 per L. C. & Dover
*65
+2,054
*5.932
41 3
38*7
52*6
50*7
*256
cent, this being chiefly due to the lower price of coal, which was Metropolitan
•771
+921
33*7
37 1
35*1
33*6
North Staffordshire
41*4
+368
40*8
53*4
55*4
+1,221
+3,9)9
nearly 10 per cent less than in 1877. The net revenue has
* J
ncrease.
+ Decrease.
increased from £10,448,054 to £10,703,853, or 2 44
per cent; buj;
the larger portion of this has been absorbed
The above tables do not include the whole of the South¬
by the interest on the
new capital
expenditure. This expenditure amounted during the western’s figures, as, owing to the incorporation of other lines,
six months ended Dec. 31 last to
£5,597,998, and many of the the comparison cannot be made.
companies are committed to heavy expenditure in the future.
English Market Reports—Per Cable.
Several, however, have stated that upon the completion of the
The
daily closing quotations in the markets of London and
works now in progress, the rapid growth of this
account, which Liverpool for the past
week, as reported by cable, are shown in
has threatened to increase in a greater
ratio than that of the net the following summary: earnings, shall be immediately checked. The manner in which
London Money and Stock Market.—The bullion in the Bank
this money is expended ought,
of
however, to be rigorously scruti¬
England has increased £474,000 during the week.
nized, and this is especially necessary when it is borne in mind
Sat.
Mon.
Tnes.
Wed.
Thur.
Fri.
M roll 1. March 3. March 4. March 5. March 6 March 7.
that over £300,000 was
expended in new rolling stock alone. Of Silver, per oz
d. 49*
49*
49 11-16
49*
49*
49*
Jonso.s for money.. S6 5-16
course, if the former equipment is fully maintained out of
96 7-16 66*
96 7-16
96 7-16
96 7-16
revenue,
account.. 96 5-16
96 9-16
56 7-16
96 7-16
96*
96 7-16
and these additions are
simply made to increase the stock, it is (7.8.6s (5-20s) 1867... .m%
104
10S*
103*
103*
103*,^
(7. 8.10-40s
104
104
104*
*104*
properly charged against capital; but these points require to be U.
S. 5s of 1881
106*
1C6* ' IC6*«4* lioss*
106*
106*
U. 8.4tfs of 1891
fully investigated, when such an item as £1,500 for new
UV/t
107*
107*
* 107*
107*
107*
wagon. U. 8. 4s of 1907
10:*
102*
102*
102*
102*
1C2*
Covers is found in the
half-year’s capital expenditure of the Erie com. stock
26
2i
26*
25*
26*
25*
Hlinois
Central
Manchester Sheffield & Lincolnshire
83
83*
84
83*
83*
83*
Railway Company. Two Pennsylvania
36
36
individual points are worthy of notice:
13
1, That the great reduc¬ Phila. & Reading
12*
12*
12*
tion in the Northeastern’s
Liverpool Cotton Market.—See special report on cotton.
working expenses does not coincide
with the decrease in the
Liverpool Breadstuff's Market.—
train-mileage, that being only slightly
less; and, 2, The high train-mile earnings of the Southeastern as
Mon.
Sat.
Tues.
Wed.
Thur.
Fri.
s. d.
s. d
8. d.
d.
s.
s. d.
8.
d.
compared, for instance, with the London & Brighton. The former 61 our (extra State).
23 0
23 0
23 0
23 0
23 0
24 0
heat, spring, No.2 » 101 lb
earns 86*6d. per
train-mile, the latter 63 3d.; the former runs
do
do
No. 3
“
7 9
7*ii
f ii
7*ii
8
do
7,655 train-miles over eaeh mile of road, the latter 9,369. Allow¬
winter W. new “
9
1
9 1
9 1
9 1
9 3
do
9 3
9 3
Southern, new. “
9 3
9 3
9 5
ing for all minor differences, it seems plain that the policy of the
do
Av. Cal. white.. “
9 0
9 0
9 0
9 0
9 1
do
Cal. club
“
9 4
9 5'
Southeastern is to exact high fares and to restrict train accommoda¬
9 5
9 5
9 6
Corn, mix. eft,old, $ cental. 4 9
4 9
4 9
4 9
4
4 8*
do prime, new,
tion, thereby reducing the expenses, while the Brighton
4 7
“
4
4 7
4 z
4 7
4 6*
pursues
an opposite
course.
The one seems more likely to develop traffic
Liverpool Provisions Market.—
in the future, and the other to check it.
Sat.
Mon.
Tues.
Wed.
Thur.
Fri.
.
“
.
,
.
•
•
•
....
Annexed
figures showing the increase of capital
per cent
during the past half-year, the proposed capital expenditure in
are
^he half-year ending June 30,1879, and in
subsequent half-years,
and the total capital
expenditure to the end of 1878, including
leased lines, and the proportion of the whole
capital which con.
sists of ordinary stock:
Capital Expenditure
»
„
Northwestern
Northeastern
Midland
Sheffield
Southwestern
Southeastern
London & Brighton
L. C. A Dover
...
North Staffordshire
Current
cent.
half-year,
£1,054,530
1 48
0’68
Great Northern
Iah. & Yorkshire
Great Eastern
Metropolitan
Inc. per
.
354,254
1*86
184
1,000,t00
1 62
0’74
6P4, 05
1*54
3*88
0’06
1*75
0 72
1*34
0*41
5 *8,8-0
240 000
319.000
173,050
181,li 5
335,000
132,000
11, t'CO
£5,641,558
887,752
1,657,598
2,387,727
2,376,000
340,000
1,534.00)
60,0; 0
644,660
648.080
887,410
386,290
51,000
s.
Dec. 31,
d.
s.
Pork, Wea‘em mess..*) bbl. 49
Bacon, long el’r, new.$ cwt. 27 0
d.
s.
d.
8.
d.
s.
d.
0
8
6
0
9
0
48
27
27
70
33
48
0
0
6
0
3
0
48
27
27
70
33
0
0
6
0
3
0
6
2
Beef, prime mess, new. $ tc. 70 0
Lard, prime West... $ cwt. 34 0
7
3
48
27
27
70
33
4
48
Bacon, short el’r,
new
Cheese, Amer. choice.
“
“
27
49
0
2
48
« •
s.
<
d.
48
26
27
70
32
48
0
€
0
0
9
0
London Petroleum Market.—
Mon.
d.
PetroPm, ref. $ gal.
Petrol’m, spirits “
Total to
Subsequent
half-years.
• •
Tues.
d.
7*
6
Wed.
d.
..
-9*
-
8*- 9*
Thur.
d.
Fri.
d.
7*- 7*
7*
1878.
£N,620,205
©nmmcrciul and2$&isccllmtciros items.
55,234,597
65,207,443
30,382,277
32,883,2» 5
Imports
32 230,274
last week,
decrease
23,847 663
22.50 ,445
20,079,815
19.750,947
22,04o,087
8,593.587
7,753,936
41
and
Exports
for
the
Week.—The imports of
compared with those of the preceding week, show
in
both dry goods and general merchandise.
The total imports were $5,306,018, against $6,813,935 the
pre¬
ceding week and $4,930,771 two weeks previous. The exports:
r
the week ended Mar. 4 amounted to
$5,763,155, agamst
244
THE
CHRONICLE.
$6,382,435 last week and $7,301,103 the previous week. The
following atwthe imports at New York: for the week ending (for
dry goods) Feb; 27 and for the week ending (for general
merchandise) Feb. 28:
I
’
Dry Goods...
General merchandise...
1876.
1877.
$2,773,041
$2,182,672
8,920,610
Total for the week..
1878.
1879.
$2,351,173
3,301,231
$1,855,698
3,459.390
$5,652,404
44,271,760
$5,306,018
44,561,218
$49,924,164
$49,867,286
,
4,187,141 ’J
Previously reported....
$6,699,654
13,764,883
$3,619,813
Total since Jan. 1..
$60,464,537
$53,044,244-
46,124.431
..The following-is a statement of the exports (exclusive of specie)
from the port of New York to
foreigu porta for the week ending
Mar. 4:
EXPORTS PROM MEW YORK TOR THE WEEK.
1876.
For the week
1878.
notes, under the Acts of June 20, 1874, and
March 1, 1879:
January 14, 1875,
National bank notes outstanding when Act of Jane 20, 1874, was
$<4,900,212
37,649,932
42,875,1:8
$8,147,765
52,44^,926
f 5,763,155
$42,148,919
$47,775,350
$60,594,691
$53,749,206
14.1875
$4,734,500
National bank notes redeemed and retired between
same dates
2,767,232
National bank notes increase from Jayne 2C, 1874, t) Jan. 14, 1875.
National bank notes outstanding Jan. 14, 1875,...
National bank notes redeemed and retired from Jan.
14. 1875, to date
National bank notes surrendered between
same
Total redeemed and surrendered
National bank notes issued between
dates
dates.
1,967,25*
$351,861,450'
$72,500,483
10,635,032
$S3,135,520
same
55,853,320
Decrease from Jan. 14, 1875, to date
47,986,051
The following will show the exports of specie from the
port of
New York-, for the week ending Mar. 1, 1879, and also a com¬
$349,894,16^
National bank notes issued from Jane 20,1874, to Jan.
1879.
$4,493,937
Previously reported....
Total since Jan. 1..
1877.
The following is the statement of the Comptroller,
showingthe issue and retirement of national bank notes and
legal-tender
passed
TORSION IMPOSTS AT MEW YORK TOR THE WEEK.
'
ivol. xxvia
National bank notes outstanding at
C reenbacks on deposit
notes of insolvent and
27,282,2KF
date
$324,579,250’
in the Treasury June 20, 1874, to retire
liquidating banks
Creenbacks deposited from June 20, 1874, to date, to retire na¬
tional baak notes
parison of the total since Jan. 1, 1879, with the corresponding
totals for several previous years:
Total
Feb. 25— Schr. L. Cobb
Feb. 26—Str. Bermuda
C'urncoa
St. Thomas
Feb. 27—Sir. Atlas
Feb. 27—Str. Suevia....
AuxCayes
Feb. 27—Str.
Mex. silver dols..
Alex, silver coin..
Amcr. gold coin..
Anaer. silver bars.
Mex. silver dols..
Amcr. silver bars.
Amer. gold coin..
Mex. silver dols..
Mex. silver dols..
Amer. silver bars.
Mex. silver dois..
London
City ef Chester...Liverpool
Mar. 1—Acnpnlco
Puiita Arenas
Mar.' 1—Str. Rhein
La Libtrtad
London
Southampton
Mar. 1—Brig H. B. Jones
Mar. 1—-Str. Marathon
ts*
293,681
4>,000
14,000
l,03»
5,'00
16,874
15,463
112,134
1646.322
2,416,220
Total since Jan. 1, 1879 ($2,928,319 silver, and
$134,223 gold)
Same time ln-
$3,062,542
....
8ame time in—
1
1
......
1871
| 1870.
| 1869
|
5,934,483
1873
6,0*30
25,0CC
5,946,7*0
i 1868
18*7
1866
been
follows
same
periods have
Porto Rico
.
AepiLwall
.
d85
Foreign gold..
1,660
1,944
.
Amer. gold
Gold dust.
Feb. 24—Bark Cnrscoa
Feb. 24—Str. C. ol Vera Cru;
110
1,544
2.S47
12*,331
Caracoa.
Havana
Amer. silver
12.645
Foreign gold.....
13,606
Amer.
*
gold
-Silver bars
'
24—Str. Atlas
.7?' Kingston
25—atr. Rhein
Biemen
25—Schr. Mary Helen.... St. Domingo...
26- Str. Alps
Aspinwall
26—Brig Idnho.
10.079
4,728
205
53.532
1,550
1.099
Cienfuegos
Feb. *7- Str. Caniraa
Hamilton
Feb. 27—Str. Saratoga
Havana
Feb. 27—Str. City of Rio de J..,Rio de Janeiro.
Mar. 1—Str. Amerique
Havre
..
....
...
1,390
8,y79
Amer. silver
Amer. silver
Imports at—
1878.
6,837
400
$252,821
Previously reported ($1,801,361 silver, and $297,144 gold;
2,09^505
Total since Jan. 1, 1879 ($2,016,616 silver and
$334,710 gold)..,..
Same time in—
Milwaukee
Port Huron
Detroit
Toledo....
Cleveland
Erie
Buffalo
$3,6'9,343
3,351,470
587.401
2,421,692
1,015.642
258.013
..
U. S. Legal Tender 3
....
12,851,336
and
$278,524
1871...
2,710,973
3,496,795
2,226 377
I,103.t8?
370,093
4870
1869
1868
1867
National Bank Notes.—From
following statement of the currency movements and
balances for three months past:
U.S. Bonds held as security from Nat. B'ks.— Dec.'
31.
Bonds for circulation deposited
$4,539,150
Bonds for circulation withdrawn
6,266,150
Total held forrcirculation
349,068,000
Bonds held as security for deposits
13,937,300
Legal-Tender Notes.—
Deposited in Treasury under act of June 20.
1874
693,050
Total now on deposit,
Jan. 81.
we
have
Treasury
Feb. 28.
$19,647,250 $21,690,700
19.776. (50
19,<'39,500
348,939 2)0 350,690.400
13,987,300
13,922,000
1,031,840
710,700
11,672,210
retired under act of Jan. 14.1875.
35,318,934
•35,31^,984
Total amount of greenbacks
outstanding.. 346,681,016 346,631,0*6
National Bank
12,312,812
85.318,994
346,6^1,016
1,075,510
287,475
322,930,849
1,468,920
2,078,190
424,428
324,579.250
1,466,9-20
3,966,000
5,681,000
6,300.000
4,m000
including liquidating
10,571,765
^
Circulation.—
New circulation issued
801,831
Circulation retired
270,632
Total circulation outstanding—Currencv...
322,322,854
"
Gold.
1,468,820
Notes received for redemption from—
New York
1,693.000
Boston
4,374,000
...
__
...
Miscellaneous
Total
..
25,500
642,290
58,420
1,102,332
663,512
20,950
1,021.334
Si5 812
646,910
141,460
1,116.274
329,381
’
76,931
124 0'5
150,041
49,654
789,158
911,152
118,678
Oswego
Cape Vincent
Qgdensbnrgh
1875.
272,610
166,09 \
239.926
150,740
39,638
51.274
1876.
141,667
18,503
954,947
407,0:0
91,723
3>o,020
158,002
426,870
492,450
32.172
32,474
•
3,912,153
•
•
•
•
3,122.016
19,038
3,725,579
62,671
35,323
103,017
6,825,082
7,521,382
8,236,232
20,909
•
107
4,939,351
’£07,000
2,057,000
*
•
•
•
59,114
Chicago received 21,000 bushels via Port Huron, but this
credited
462 000
-2,066,000
300,000
1,793,000
$8,13!,000 $12,175,000 $13,083,COO
is
the latter port.
The actual imports at Milwaukee
were 44,217 bushels, 3,595 bushels
having been received in bond
from au American port.
In addition to the direct imports at
Detroit, given in the table, 9,490 bushels were received iu bond
from other ports.
Below we have separated the imports of barley,
showing the
quantities shipped Eastward and Westward—the division beingpoints of imports above Erie for Western shipments, and Erie
and all ports below for Eastern shipment^, as follows:'
to
Shipped Eastward.
Shipped Westward
Tota1...
1878.
1877.
1876.
1875.
4,610,43 )
319,921
5,803,131
1,Oil,951
5,741,438
1,779,944
6,189,962
2,046,S20
4,939.351
6,825,032
7,521,382
8,236,282
Of the total quantity shipped Eastward in 1878,
Oswego
received 63 per cant; in 1877, 07 per cent; in 1876, 55
per cent ;
in 1875, 60 per cent.
To show what proportion of the total imports
came to
we
append ihe following
Oswego*
:
1878.
1872
Comptroller of the Currency, Hon. John Jay Knox,
Philadelphia
40,622
204,831
..
Same time in—
1878.
banks..
Total and
1877.
112.829
Chicago
4^095
...
Total for the week ($215,255 silver, and $37,566
gold)
the
f SS.SiS.OS*1
$346,691,015
—The following, from the Albany Argus, gives the
imports of
barley from Canada.
The Argus states that they are official
figures, and show the total imports of barley from the Province
of Ontario into the United States daring the past four
years:
$255
Amer silver
the
$12,312,812:
Greenbacks retired under act of January 14,1875
Gieenbacks outstanding at date..
Total
.
1877
1876
1875
1874
1873
75,267,720
:
Feb. 21—Str. Bermuda
Feb. 21—Str. Acapulco.
Feb.
Feb.
Feb.
Feb.
Feb.
dates without
same
deposit at date
Suspension Bridge
imports of specie at this port for the
as
on
Charlotte
Fair Haven
.1872
The
Greenbacks
83,766,857
$87,530,532
Circulation redeemed by Treasurer between
re-issue
1,030
St. Jago de Cuba...Amer. t-ilvercoin.
Liverpool
Amer. silver bars.
Total for the week ($644,402 silver, and $1,920
gold)
-Plrwlouslv reported ($2,283,917 silver, and $132,303 gold)
1878
1877
1876
1875
1874
$5,150
deposits
$3,813*575
Imports fit Ofwego
Imports at otLer ports
Total
Of the total
1877, 57
1817.
1876.
1873.
2,027,545
3,912,153
2,912,929
3,122,016
4,399,363
3,725,570
4,939,351
6,825,082
7,521,38i
2,911,803
,
imports in 1878, Oswego received 60
per cent;
in 1876, 42
per cent;
—One of the most remarkable loans
per
4,510,70a
8,236,282:
cent; in
in 1875, 45 per cent.
placed on our market
by the Agency of the Bank of Montreal in*
this city, in connection with Messrs. Kuhn, Loeb & Co. This loan,
is no other than an issue of $3,000,000 (£600,000) of the Govern¬
ment of the Province of Quebec in the Dominion of Canada.
It
is the first instance in which a loan of any colony or
any corpo¬
ration (Canada Southern excepted) in the domains of Great
Britain has been offered in America.
The loan itself is quite at¬
tractive in terms, being in coupon bonds of $500 and $1,000
each,,
interest at 5 per cent per annum, payable May 1 and Nov. 1, in,
New York or London, with the principal piyable in 1908. The
present funded debt of the Province is £l,6i0,200. consisting oi
two loans issued, one in 1874 for £800,000, and one in 1876 foi
£860,000. The proceeds of the present loan are to be applied:
first, to the payment of the floating debt of $1,750,000 of the
Province, incurred eolelv for the construction of the Quebec
Montreal Ottawa & Occidental Railway ; second, to form
part
of the Consolidated Railway Fund to be used iu the
completion
of the said railway as by law provided.
Ia regard to this, and
other British loans which may seek this market in future, it ifr
to be remarked that the English people have a
strong prejudice
in favor of governments paying their debts, and they will submit
to heavy taxation to maintain their financial
integrity.
is
now
offered
at
par
ever
March 8,
THE CHRONICLE
1870. J
gltc
sT (gazette.
78th CaU.
79th Call.
80th Call. 1
81st Call.
Made Jan. 6.
Made Jan. 8.
Made Jan. 11.
Made Jan; 14.
Matures Apr. 6 Matures Apr. 8. Matures Ap. 11. Matures
Ap. 14.
$50. 11001- 18000 18001- 23000 23001- 27000 27001- 37000
100.
11001- 18000 18001- 24000 24001- 31000 31001- 47000
500.
11001- 16000 16001- 22000 22001- 27000 27001- 37000
13001- 20000 25001- 27000 27001- 34000 34001- 48000
1,000
Total..
$6,000,000
$6,000,000
$6,000,000 1
Coupon
NATIONAL BANKS ORGANIZED.
The United Statea Comptroller of the
Currency furnishes the
following statement of national banks organized :
2,414—First National Bank of Winsted, Connecticut. Authorized capi¬
tal, $50,000; paid-in capital, $30,000. Elias E. Gilman, Presi¬
dent; Harvey L. Roberts, Cashier, Authorized .to commence
business February 27,1879.
DIVIDENDS.
announced :
Per
Name
op
Company.
When
Payable
Cent.
Books Closed.
(Days
inclusive.)
Railroads.
New York & Hari<
and pref
m com.
3
April 1. Mar. 16 to Apr. 1.
FRIDAY, MARCH 7, 1879-5 P. M.
Money Market and Financial Situation.—The week
lias been comparatively quiet in financial
The
on
month
In
the chance of
or more
a
rise has been
of the features for
one
a
1,000.
5,000.
10,000.
401550
28014400
20012850
7401- 11000
26013550
20012800
Total..
$4,000,000
Gr. tot.
$4,000,000
10,000,000
$4,000,000
10,000,000
10,000,000
500.
to the 4 per cent negotiations the
has been issued by Secretary Sherman :
’
John
Coupon
Tlie money market is
perceptibly firmer, and while the rates on
call loans are still made at low
prices, there is a wider difference
time engagements. Call loans on Government collaterals
have
been made at 2@3 per cent, and on miscellaneous stock
collaterals
2|@4
with exceptional advances to 5 and 6 per cent.
Commercial paper is a shade firmer at 4(3)5
per cent.
per cent,
The Bank of
England weekly statement
on
Thursday shoWed
gain of £474,000 in specie, for the week, with a reserve of
47 7-16 per cent of liabilities,
against 47 15-16 per cent the pre¬
vious week; the discount rate remains
unchanged at 3 per cent.
The Bank of France gained 5,300,000 francs in
specie.
The last statement of the New York
City Clearing-House hanks,
issued March 1, showed a decrease of
$3,461,775 in the excess
above their 25 -per cent legal reserve, the whole of such excess
being $5,750,875, against $9,212,650 the previous week.
The following table shows the
changes from the previous week
•and a comparison with the two
preceding years.
-a
1879.
Mar. 1.
Differ’nces fr’m
previous week.
1878.
Mar. 2.
1877.
Mar. 3.
Loans and dis. $246,716,900 Inc .$2,709,900 $246,456,200
$259,100,400
Specie
16,456.500 Dec. 1,474,800
33,326,400
28,498.900
Circulation
19.232,400 Dec.
103,500
19,838,500
15,533,500
Net deposits
213,429,700 Dec. 2,952,900 213,933,400 227,100,000
Legal tenders.
42,651,800 Dec. 2,725,200
33,137,900
43,227,800
..
.
United States Bonds.—There has been
a little less
activity
in Government bonds this week and a
slight yielding in price on
sbfne issues,
including the new 4 per cents. The circular of
Secretary Sherman, given above,
will pass new
regulations as
to run on the called
and the prospect that Congress
to the time interest shall be allowed
five-twenties, have a certain influence on the
market.
One call for $10,000,000 has been issued this
week.
-All the numbers of called bonds now
and the dates
outstanding
when they respectively fall due, are shown in the
following
table:
74th Gall.
75th Call.
76th Call.
77th Call.
Made Dec. 9.
Made Dec. 18.
Made Jan. 1.
Made Jan. 4.
Matures Mar.9. Mat’resMar.18. Matures Apr. 1. Matures
Apr. 4.
$50.
15000
5001- 11000
;
100. 146001-147006 147001-148720
15000
5001- 11000
500. 104001-105000 105001-106695
16000
6001- 11000
hooo. 200001-204000 204001-210542
16000
6001- 13000
Coupon
1925
$8,000,000
Regis'd
$50.
100.
500.
1,000.
5,000.
10,000.
Total..
Gr. tot.
19262270
13851- 16400
72519300
27751- 31900
81518300
13251- 15400
62517250
23751- 27750
71018150
9951- 13250
$10,000,000
20,000,000
86th Call.
Made Feb. 1.
Matures May 1.
$50. 70001- 75000
100. 100001-115000
500.
69001- 75000
$10,000,000
2271-
2550
16401- 18500
93019350
31901- 35300
8301- 10150
15401- 17000
$10,000,000
20,000,000
$10,000,000
20,000,000
87th Call.
88th Cell.
20,000,000
$10,000,000
25512800
18501- 20300
93519900
35301- 38200
10151- 10800
17001- 18450
$10,000,000
20,000,000
89th Call.
Made Feb. 6.
Made Feb. 12.
Made Feb. 17.
Matures May 6. Mat’resMayl2. Matures May 17
75001- 80000 80001- 85000 85001- 90000
115001-130000 130001-146000 146001-160000
75001- 81000 81001- 87000 87001- 93000
114001-129000 129001-144000 144001-158000
$10,000,000
3000
280120301- 21900
9901- 10650
38201- 40900
10801- 11500
18451- 19700
3001-
$10,000,000
3100
3101-
3170
$10,000,000
21901- 22950
22951- 23200
10651409011150119701-
31713220
23201- 23500
11151423011215121301-
43401- 44200
13101- 14000
23001- 25300
$10,000,000
20,000,000
11150
42300
12150
21300
$10,000,000
11300
43400
13400
23000
$10,000,000
20,000,000
20,000,000
11301- 11450
$10,000,000
20,000,000
90th Call.
Made Feb. 24.
91st Call.
Made March 4.
Mat’res May. 24 Matures June 4.
90001-100000 100001-105000
160001-180000 180001-195000
93001-100000 100001-104000
158001-176000 176001-185000
Coupon.
$50
ioo
500
1,000
Total
$13,000,000
$7,000,000
32213240
23501- 23620
32413250
23621- 23650
Regis'd
$50
ioo
•on
-at
1551-
11401- 13850
1,000. 100001-114000
Sherman, Secretary.
11511550
8201- 11400
48516250
17651- 23750
53317100
48019950
•
Total..
Notice is
United States are covered by subscriptions to the 4
per cent consols, the
latter will be withdrawn from sale upon the terms
proposed by the De¬
partment. circular of January 1, 1879, and upon the terms stated in the
contract with the Messrs. Rothschild and others of the date of
January
21,1879. The amount of 5-20 6 per cent bonds
outstanding and em¬
braced in calls to this date is $88,079,800. When this
sum is covered by
.subscriptions under the existing circular and contract, all further sales
of 4 per cent consols to provide for the
refunding of the JL 0-40 5 per cent
bonds will be made upon terms which will
probably be less favorable to
the purchaser, and in accordance with new
proposals and contracts.
This notice is given so that all parties
wishing to subscribe for consols
.upon the terms stated in the circular and contract
may have an oppor¬
tunity to do so until the 5-20 bonds are called.
8011150
59018200
38014850
13501- 17650
43015330
35014800
Regis'd
following circular
Treasury Department,
\
Washington, D. C., March 4, 1879. >
given that when the outstanding 5-20 6 percent bonds of the
551800
44015900
28513800
11001- 13500
35514300
28013500
82d Call.
83d Call.
84th Call.
85th Call. “
Coupon Made Jan. 18. Made Jan. 21. Made Jan. 24, Made Jan. 28.
Matures Ap. 18 Matures Ap. 21 Matures Ap.24. Matures Ap. 28.
$50. 37001- 46000 46001- 55000 55001- 64000 64001- 70000
100. 47001- 60000 60001- 70000 70001- 85000 85001-100000
500.
37001- 46000 46001- 55000 55001- 62000 62001- 69000
1,000. 48001- 60000 60001- 73000 73001- 86000 86001-100000
Total..
$10,000,000
$10,000,000
$10,000,000
past.
regard
$12,000,000
100.
circles, and there is
$50.
little change to note in the
100.
general situation. The relief fur¬
500.
nished by the adjournment of Congress
could not have much effect
1,000.
5,000.
in view of the still
impending danger from the approaching extra 10,000:
session called by the President as a matter of
public necessity. Total..
Gr. tot.
There is continued strength and
activity in the market for all
classes of securities, and a
tendency to buy low-priced stocks and
bonds
1
Regis'd
$50.
r
Thefollowina dividends have recently been
245
,
500
11451- 11520
11521- 11550
1,000
44201- 44400
14001- 14350
25301- 26950
44401- 44500
14351- 15100
20951- 27730
$7,000,000
$3,000,000
5,000
io'ooo
Total
Grand total
$20,000,000
Closing prices at the N. Y. Board haye been
as
10,000,000
follows:
Interest March March [ March March March March
Period.
1.
3.
I
4.
o.
6.
7.
6s, 1881
&
&
&
&
&
&
&
&
reg.
coup.
6s, 1881-.
6s, 5-20s, 1867...reg.
6s, 5-203,1867 .coup.
6s, 5-20s, 1868...reg.
6s, 5-208,1868 .coup.
5s, 10-403
reg.
5s, 10-408
coup.
5s, fund., 1881...reg.
5s, fund., 1881..coup.
4*23,1891
reg.
J.
J.
J.
J.
J.
J.
*106%
10650
*10650 *10650
*102
*102
106*8
10650
*10218
*10218
102%
*10238
*106% 106*8 106%
*106% *106% *106%
*10218
*102% *102% *102%
*102is
*102% *102%; *102%
*10214 *10214
*102*8 *102%! *102%
*102^4 *10214
*10238*10238 *102%
8. "101% *102
*102
*102
102
{*102
8. x02% *102^ *10214 *102% 102% *102% *
-Feb. *10458 *1045g *10450 *1045b! 104*0 *104%
-Feb. *10450 *104*0 *104*8 *104%;*104% 104%
-Mar. *105 j 1051s 105
*104% 105 ' 105
-Mar. *x05%| *1054 105% *105%; 105% *105%
4%s, 1891
coup.
-Jan. *x99%|
4s, 1907
99 %!
reg.
99ie *99ie
99%
99%
-Jan. *10018 *100i8 *100% 100% 100% *100
4s, 1907
coup.
*
& J. 12170 ! 122
6s, cur’cy, ’95-99. reg.
*121% 121%|*121% *121%
*
This is the price bid; no sale was made at the Hoard.
The range in prices since Jan. 1, 1879, and the amount of
class of bonds outstanding Mar. 1, 1879, were as follows:
Range since Jan. 1,1879.
Lowest.
6s, 1881
cp. 105% Feb.
6s, 5-20s,’65.cp.
68.5-20s,’67.cp.
68.5-20s,’68.cp.
5s, 10-408.. .cp.
5s, fnnd.,’81.cp.
4%8, 1891 ..cp.
10i% Jan.
102% Feb.
x02% Mch.
x64%Feb.
104% Jan.
99% Jan.
4s, 1907
cp.
6s, cur’ncy.reg. 119% Jan.
Highest.
each
Amount Mar. 1,1879.
Registered.
8 106% Jan. 17 $201,075,400
12,096,200
24 102% Jan.
2 132,951,000
3 104% Jan.
4
16,421,500
1 108% Jan. 4 144,302,900
14 107% Jan. 15 255,773,150
2 106% Feb. 28 165,583.700
3 100% Feb. 17 256,313,400
Feb. 20
4 122
64.623,512
Coupon.
$81,660,950
3,899,900’
170,021,600
21,033,700
50,263,400*
252,667>200
84,416,300
150,586,600
Closing prices of securities in London for three weeks past and
since Jan. 1, 1879, were as follows:
the range
•
Feb:
21.
Feb.
28.
*
Mar.
7.
Range since Jan. 1,1879.
Lowest.
Highest.
•
Total..
Regis'd
,$50.
100.
500.
1,000.
5,000.
10,000.
Total..
Gr. tot.
$2,000,000
19261- 19279
11321- 11326
39301- 39304
12701- 12704
25351- 25700
$3,000,000
5,000,000
$2,439,250
24941928011327393051270525701-
2503
19297
11337
39316
12722
26586
$8,556,850
10,996,100
$6,000,000
111111-
182
1500
1050
3700
1150
1000
$1,000,000
10,000,000
$6,000,000
18315011501370111511001-
400
2800
2000
7400
2U00
2000
$4,000,000
10,000,000
U. 8. 6s, 5-20s, 1867
U. 8.
5s, 10-408
U. 8. 5s of 1881
U. 8. 4%s of 1891
U. 8. 4s of 1907
State and Railroad
what
more
103% 103% 103% 103% Jan. 23
x04
Mch. 4
104% 104% 104
106% 106% 106% 106% Feb. 11
107% 107% 107% 107% Jan. 2
102% [102% 102% Mch. 7
104% Jan.
2
111
7
Jan.
109% Jan. “4
109% Jan. 29
102% Feb. 28
Bonds.—State bonds have been
some¬
active, and the Louisiana consols have recovered
materially from the lowest prices of the late decline. From Vir¬
ginia the following Richmond telegram dated the 5th mat.
explains the situation:
*
.. a
A
9
246
THE CHRONICLE
rV0L. XXV HI.
“
The bill providing for the settlement of the State debt was
passed in
the Senate this afternoon by a vote of 28 to 9. The
re-adjusters’ amend¬
ments providing for the ratification of the
proposed settlement by a
vote of the people, Ac., were all rejected. An amendment was
Total sales this week, and the
range
since Jan. 1,1879, were as follows:
adopted
providing that bonds exchanged for outstanding bonds shall be taken
and held
as full and absolute release of the State from all
account of certificates for West Virginia’s third.”
liability
It is also stated with much confidence that the hill will become
law.
Railroad bonds are very strong, and there is a
good demand
for all issues, both high and
low-priced bonds. A large business
has been done the past day or two in Erie consol,
gold bonds,
which sell ex-coupon of September, 1879.
The following securities were sold at auction :
a
Shares.
1 N. Y.
Guaranty & Indem¬
nity Co
100
118
4 U. 8. Life Ins. Co
10 Park Fire Ins
8 Long Island Railroad,and
109%
$10 scrip
10
73 Broadway Insurance Co 205
50 Kings County Fire Ins.
Co
169%
30 Standard Fire ins. Co
129%
163 N. Y. Prov.A Boston RR.125ii6
86 Chatham Nat’l Bank
106
40 Central Nat’l Bank
95
5 Brooklyn Fire Ins. Co...195
6 Brooklyn City Railroad.. 140
1 Union Ferry Co
143
4 New York Gaslight Co... 96%
15 Brooklyn Gaslight Co. ..140
8 Nassau Gaslight Co. of
6
1
Brooklyn
75
People’s Gaslight Co. of
Brooklyn
26
Metropolitan Gas ightCo.
of Brooklyn
60
Shares.
20 Brooklyn Acad, of Music. 71 %
5 Metropolitan Gaslight Co.120%
Bonds.
$128 U. 8. Life Ins. scrip, viz:
$30 of 1873, $30 of 1874,
§20 of 1875, $20 of 1876,
20 of 1877, $8 of 1878.. 78
$200 Nassau Gaslight Co. of
Brooklyn certificate of in¬
debtedness
$5,000 Jersey City 7s, water
scrip, payable April 1,
1902
100 and int.
and East River Railroad*
first mort. consol. 7s, due
works
1883, $2,000 due 1893.
$10,000
92% and int.
New Jersey Midland
RR. Co. 1st mort. 7
per
cent bonds, due 1895
38%
since Jan. 1, 1879, have been
Feb.
28.
Louisiana consols
Missouri 6s, ’89 or ’90
North Carolina 6s, old
Tennessee 6s, old
504
20
ao
do
2d series..
Dist. of Columbia, 3-65s
*
This is the price bid;
as
*41
914
no sale was
two weeks past,
follows:
7.
Highest.
534 484 Feb. 27 69
Jan.
6
*1044 1034 Mch. 5 1064 Feb. 12
*20 4 18
Feb.
8 204 Mch. 6
Jan. 21
42
Feb. 13
*414
82
794 Jan.
3
8334 Feb.
2*7
Railroad and iVIIscellaneoiis
Stocks.—The stock market
has not been conspicuous for
any leading speculative movement,
but there have been periods of considerable
activity and some¬
times a feverish tone, with
daily fluctuations of two to three per
cent.
The idea that there
may possibly be a stringency in the
money market during April probably has some effect in
checking
heavy operations
at the present time.
The annual meetings of
different companies have also called
many leading men away
from Wall street, and the results shown in the
different reports
as they come out are studied with
much interest.
Taken as a
whole, the market closes on prices
,
generally firmer than last
The daily
Lowest.
1,300
55,835
45*4 Jan.
33 % Jan.
1,910
1,250
87,210
36,748
Chicago A Northw... 175,635
do
do pref. 100,813
Chic. Rocklsl. A Pac.
4,192
Clev. Col. Cm. A Ind.
2,829
Clev. A Pittsb., guar.
3,252
Col. Chic. A Ind. Cent
1,025
Del. A Hudson Canal
8,263
Del. Lack. A Western 213,430
Erie
90,535
do pref
3,600
Hannibal A St. Jo.
2,400
do
do pref.
6,015
Illinois Central
2,860
Kansas Pacific
11,950
Lake Shore
118,940
Michigan Central....
8,370
Missouri Kan. A Tex
23,898
Moms A Essex
15,460
..
..
N. Y. Cent. A Hud. R.
Ohio A Mississippi...
3,337
7,860
5,865
Pacific Mail
Panama
Pitts. Ft. W. A Chic..
St. L. I. Mt. A South
St. L. K. C. A North.
do
20
249
1,420
3.250
pref.
Sutro Tuunel
Union Pacific
Wabash
Western Union Tel...
7,050
4,950
24,060
19,120
110,165
Highest.
1878.
Low.
High.
3 58% Jan. 28 38
45%
2 473e Feb. 17 13i* 45%
75
Mch. 3 88
Jan. 28 66% 85
111J8 Jan. 7 122% Feb. 19 9914 114%
34% Jan. 4 48% Jan. 28 27% 54’a
74% Jan. 4 85% Jan. 28 64
84%
495e Jan. 3 653s Jan. 27 32% 55%
767g Jan. 3 91i8 Feb. 19 59% 79%
119
Jan.
8 135
Feb. 18 983a 122
34% Jan. 2 48 38 Jan. 30 23
38%
84*2 Jan. 2 95 Feb. 10 63ic 85
5
Jan.
4
6*8 Feb. 11
2%
6%
38
Jan.
2 45% Jan. 24 343s 597s
43
Jan.
2 555s Jan. 27 41
617e
21*8 Jan. 4 273s Jan. 25
75ft 22%
37% Jan. 2 51% Jan. 30 21ic 38
13% Jan. 4 163s Feb. 10 10
1678
34
Jan. 10 44*2 Feb. 18 2150 415a
80
Jan.
2 89
Jan. 30 7238 87
9% Jan. 21 22% Mcb. 7
4
125s
67
Jan.
6 74% Jan. 28
5578 7150
73% Jan.
2 90if Jan. 27
58ic 75
538 Jan. 4
2
95e Mch. 7
7%
75*! Jan. 3 8678 Feb. 18 673a 89
112* Jan. 7 120
Feb. 18 103% 115
7% Jail. 4 13
Feb. 17
6% 11%
1038 Jan. 13 155a Feb*. 18
12ic 23%
123
Jan.
2 136
Feb. 20 112
131
101
Jan.
4 1071c Jan. 24
85
102
13
Jan.
2 171*2 Jan. 24
5
155g
7
Jan.
2
9
Jan. 25
3ic
75e
25% Jan.
2
3838 Jan. 30 19
26%
23s Jan. 16
44 Jan. 3
5
31c
57% Jan. 31 81
Feb. 19
61% 73
*J
20
Mch.
25
Jan. 27
12% 23%
9438 jan.
7 108
Mch. 4j 75% 102
earnings and the totals from Jan. 1 to latest
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 period men¬
dates
are
tioned in the second column.
/—Latest earnings reported.—.Jan. 1 to latest date.—.
Week or Mo.
1879.
1878.
1879.
1878.
A tel). Top. & S. F.3d wk Feb.
$111,500 $58,073 $602,000 $323,044
Atl. & Gt. West...January
309,121 298,976
309,121
293,976
Atlantic Miss.& O.January
109,894
142,537
109,894
142,537
Bur. C. Rap. & N.4tli wkFeb
24,975
35,392
214,639
312,608
Cairo & St. Louis.2d wk Feb.
3,498
' 3,220
23,995
17,172
Central of Towa. .January
58,060
67,111
58,060
67.111
Central Pacific...February .1 ,093,000
980,528 2,236.000 2.0D1.516
Chicago A Alton, ,4th wk Feb
64,880
63,014
656.048
601,259
Chic. & East. III..4tli wk Feb
13,740
13,120
128,530
123,894
Chic. Mil. & St, P.4th wkFcb 119,000
147,129 1,068,000 1,372.718
Chic. ANorthwest. January ..1 ,044,230
1,077,891
1,044,230 1,077,891
Clev. Mt. V. & D. .2d wk Feb.
6,242
7,339
41*632
42,987
Dubuque & S.City.3d wk Feb.
14,776
23,315
100,631
153,399
Gal. Houst. &H..February
43.948
33,909
92,880
75,875
Grand Trunk. Wk.ena.Feb. 22 173,353
172,382 1,364,728 1,417,759
Gr’t Western. Wk.end.Feb. 28
75,571
79,233
728,793
878,010
Hannibal A St. Jo.3d wk Feb.
33.968
31,024
233,848
228,116
Houst. A Tex. C.. January
260,746
239,202
260,746
239,202
Illinois Cen. (Ill./..February
379,377
380,048
829,958
867,798
do
(Iowa). February
95,866
131,339
196,439
268,248
Tndianap. Bl. AW.3d wk Feb.
22.580
22,211
160,434
194,264
Ibt, A Gt. North..3d wk Feb.
37,194
26,769
273,437
218,100
Kansas Pacific.. .4th wk Feb
60.968
46.681
415.987
362,451
Mo. Kans. A Tex .4th wkFeb
53.189
51,864
389,310
398,146
Mobile A Ohio
165,600
February
188,790
355,600
460,782
Nashv. Ch.A St.L. January
157,278
177,806
157.278
177,806
Pad. A Elizabetht. 1st wk Feb
5,435
6,577
30,626
34,344
Pad. A Memphis.. 2d wk Feb.
3,544
4,147
22,046
25,4 79
Phila. A Erie
January
212,748
220,496
..
..
.
.
..
.
.
highest and lowest prices have been
Saturday,
March 1,
Canada South
Shares.
Range for
..
made at the Board.
week.
Canada Southern....
Central of N. J
Chicago A Alton
Chic. Burl.A Quincy.
Chic. Mil. ASt.P..
do
do pref.
Range since Jan. 1,1879.
The latest railroad
Lowest.
36
Week.
and
Range since Jan. 1,1879.
Mch.
*33
*74
Virginia 6s, consol
water
bonds; $1,000 due
Closing prices of leading State bonds for
States.
95i4
$3,000 Jersey City 6s,
3 Delaware & Hudson Canal
Co
39*2
the range
97%
$5,000 Central Park, North
1902...
Sales of
on
in prices for 1878 and
Monday,
March 3
as
follows:
Tuesday, Wedn’sd’y Thursday,
March 4
March 5
Friday.
March 6.
March *7.
..
.
Central of N.J. 36
384
Chic. & Alton. 76** 779*
Chic. Burl.A Q 114
115
C. Mil. & St. P. 36
37-4
53% 54
544 514 54* 55
3 * 37
334 37* 38%
76
35
75
"6
76
78
78
.
.
'36*
33%
55% 55%
37
3S
..
78
78
1134 1134 115 lift 115% 115% 115 115% 774 774
354 3:% 36* 37% 37* 38* 37
38*1 37* 37%
212,748
220,496
do
pref. 80'* 82
Phila. A Reading. January
794 81
8O4 814 81
957,215
673,980
81% 80% 81* 80% 81*
957,215
673,980
Chic. A North
54
53* 584 52
St.L.A.AT.H.
514 53* 12% 55
(brs)4th wkFeb
10,030
524 54% 52* 53*
7,207
92,422
do
75,232
pref. 86
874 85
86%
86%
St.
L.
Iron
87*
Mt. A S.February
86* 87% 85* 87* 85* 88%
339,950
C. It. I. & Pac.. 128
341,318
673,979
128% 123 129
716,839
1294 130
130* 1304 129% 130% 129^ 130
8t. L. K. C. A No. .4th wk Feb
Clev. C. C. & l. 41
49
67,258
41
50,745
523,056
414
499,290
424 43
*41
44
43% 44
43
13
St. L. A S.E.(St.L.)2d wk Feb.
Clev.& P., guar 91
91
90
91
11,606
90% 9o
10,965
91
70,792
914 91% 92
71,621
92
92
Col. Ch. & I.C.
do
Feb.
54
(Ken.).2d
wk
5~, "5*
5% *5*
7,492
6,408
42,816
5*
5-8
54
38,971
Del.& H. Canal
5%
5*
3 % 3/Vi
do
38 ^ 39% 39% 39%
(Tenn.).2d
wk
Feb.
3,350
2,865 ..
18,481
39* 39% 40
Del. Lack. <fc W 45k 50
19,070
40%
44* 46*
St. Paul A 8. City. January
45*
47%
45
4«*
47
46* 454 47*
46,724
40,467
46.724
Erie..
40.467
25k 25% ‘4% 15*
2«j%
Sioux
25
254
25%
2
25*
City A St. P. January
>* 2. *
do pref.
21.948
25.908
43% 44
21,918
13* 44
25,908
444 45
44
44* 44* 44*
Southern Mmn.. .January
Han. & St. Jo.. 14% 15*
37,151
15
60,016
37,151
1-t* 15* *14% 15% *14* 15%
60,016
do
*144
Tol.
Peoria A War. 4th wk Feb
pref. 43
43
15.580
43% 42
14,670
42* 42* 42
172,531
42* 12%
225,344
Illinois Cent.
81
81 %
Union Pacific
0% 81% 814 81% 814 81% 81% 42* 42* 42*
747,761
February.
679,768
1,438,302 1,377,268
Kansas Pacific 17% 13
814 81* 8I4 Wabasli
19
20% 19% 20% 18
4th wk Feb
19
17
18
72,093
69,798
640,638
Lake Shore
194 224
70* 71% ;o% 714 71*
681,554
72*
714
72*
71
70%
71*
714
Michigan Cent 874 83
864 87% 87% 88* 874 874 87
Mo. Kan.A Tex
8t% 86* 87¥
exchange is decidedly firm, and rates
74
7*
8
7%
7* »%
Morris A Essex
m m
have approached near to the specie
81% 82* ml 83
83
82%
83
shipping point. The market
84
N.Y.C.& H. k. 116% 117
1)5
116
for sterling bills is about
1164 1164 116% 116% 115* 116
116
116
Ohio A Miss... 11
for demand, and 4#86£<2)
11% 10* 11% 10* 11
10%
10%
Pacific Mail...
13
13% 12% 13% 12* 134 !•■% 134 10% 10*
4*86£
for
60-days
prime
bankers’
bills.
Cables have sold at
134
14
Panama
135
135
135
135
*132
*133 134% *133 135
*“*
4-90±.
Pltta.Ft.W &C. 106
1D8
106
106
106* 101*
106* 10 •% 105* 105% 106
St L.I.M.&So..
14% 154 15
Quotations for foreign exchange are as follows:
15
*..
15
14*
14i
6t.L.K.C.& No
8
8
8*
9
8
8%
8
8%
do
84
34
pref
’**
33
34
354
34
35% 34
34% 35
March 7.
Futro Tunnel.
35* 34% 34%
60 days.
*3
Demand.
34
34
34 34
3%
3%
2*
3
Union Pacific.. 73% 73% 72* 74
2% 8
734 74%. 73* 74* 73* 744 74
Wabash
Prime
74*
bankers’ sterling bills on London. 4.86%@4.87
21% 21* 20
21% 20% 21* 20% 21
4.89%®4.90
West. Un. Tel 104% 106*
20* 20* 204 90% Good bankers’ and
104% 107* IO64 108 104% 107 104 104
prime commercial... 4.86 @4.86% 4.89 @4.8914
1044
105*
Good commercial
*
4.85
@4.85%
4.88 @4.88%
These are the prices bid ana asked; no
sale was made at the Board.
Documentary commercial
:
4.84%@4.85
4.87%@4.88
Paris (francs/
Total sales of the week in
5.18%@5.16% 5.16%@5.13%
leidlng stocks were as follow :
Antwerp (francs)
5.18%@5.16% 5.16%@5.13%
Swiss (francs)
5.18%@5.16% 5.16%@5.13%
West.
North¬ N’rtliw. Del. L.
Amsterdam (guilders)..,
St.Paul. U11. Tel.
Lake
40162) 40*4
403a@ 401«
Erie.
west.
A
pref.
West.
Shore.
Hamburg (reichmarks)
95%@ 953e
955s@ 95’e
Frankfort (reichmarks)
March 1... 21,600 15,270
95%@ 9538
955g® 95%
36,900
14
24,050
Bremen
52,400
19,150
(reichmirks).l
27,150
3...
95182) 953g
17,360 27,405 34,500 23,450
95&8@ 9578
44
52,610 22,345 28,500 Berlin (re chnarcks)
4... 14,450 20,125
95%® 953g
95% ® 9578
29,100 17.939 35,560 13,050 23,140
44
5...
18,535 21,025 38,005 12,024 17,460
44
5.330 14.100
The following are quotations in
6...
12,650 17,140 24,360 15,950
gold for various corns:
"
27,900 17,860 18.100
7...
2,615
9,200 12,770
Sovereigns
$4 83 @$4 87
Dimes A % dimes. — 98 @ — 984
7,400 27,500 12,800
7,950
3 83 @ 3 87
Napoleons
Silver 4s and %s. — 987s® — 994
Total.
X X Reichmarks. 4 72 @ 4 78
87,210 110,165 175,635 100,813 213,430 90.535
Five francs
92 @ — 94
118,940
Whole stock. 154,042 350,849 149,889
X
Guilders
3
90
@4
00
215,256 524,000 762.000 494,660
Mexican dollars.. — 844® — 854
Span’h Doubloons. 15 70 @15 95
English silver .4 75 @ 4 80
The total number of shares of
stock outstanding is
Doubloons.. 15 50 @15 65
Pras. silv. thalers. — 68 @ — 70
given in the Mex.
lMt line for the purpose of
Fine silver bars
1084® 1084 Trade dollars
comparison.
984® — 987«
Fine gold bars
par. @ %prem. New silver dollars — 994® — P»r.
..
..
.
si m
..
..
..
....
..
Exchange.—Foreign
<$.
.
4#89£@4‘89£
.
'*« ‘SS
.
''
..
—
..
—
March 8,
THE CHRONICLE.
1879.]
218897..--0JO
New York 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
BOSTON,
March 1,1879
247
PHILADELPHIA, Etc.-Continued.
Bid. Ask.
axcuBmxs.
Bid. Ask.
ssctTRrnxs.
ATKRAGH AMOUNT OF—-—
Loans and
Banks.
Capital. Discounts.
$
*
New York
2,000,000 8.303.300
Manhattan Co.... 2J50,0U0
5,824,703
Mechanics'
Merchants1
Union
.
America
Phoenix,,
City
2,000,000
2,000.000
1,200,000
3,000,000
1,030,000
1,000.003
1,000,000
Tradesmen's
Folton
630,000
Chemical
300.000
Merchants' Exch. 1,000,000
Gallatin National 1,000,030
Bntchers’&Drov.
300.000
Mechanics' &Tr.
300,003
Greenwich*
200,000
Leather Mauf’rs.
600,000
8eventh Ward..
300,000
State of N. York.
800,000
American Exhu’e 5,000,000
Commerce
5.000,000
Broadway
1,000,000
1,000,000
Mercantile
Pacific
422,700
Republic
1,500,000
450,000
Chatham
People’s
412,500
North America..
700,000
Hanover
1,000,000
Irving
500,000
Metropolitan.
..
3,000,000
.
Citizens’
600,000
Nassau
1,030,000
Market
500,000
St. Nicholas
500,010
Shoe and .eather
500.003
Corn Exchange . 1,000,000
Continental
1,030,000
Oriental1'
300,000
Marine
400.000
.
.
....
Importers’&Trad 1,500,000
Park
2,000,000
Mech. Bkg. Aes’n
500,000
Grocers'
300,000
North River
240,000
East River.
250,000
Manuf'rs’<fc Mer.
100,000
Fourtn National. 3,2 0,000
Central National. 2,003,000
Second National.
300,COO
Ninth National..
750,000
First National...
500,000
.
...
Third National.. 1,000,000
N.' Y. Nat. Exch.
300,000
Bowery National. 250,000
Ne w Y ork County
2i 0,000
German Americ’n
Chase National..
*
750,000
300,000
Legal
Net
Specie. Tenders.
Circula¬
tion.
Deposits.
$
%
t
$
494,300 1,045,800 7,469,300
44,000
501,000
681,000 4,169,000
500
591.700
956,700 5,455,400
6,294,000
83,000
687.700
6.307.900
522,700 4,815,600
44,500
4,060,000
254.600
555,700 2,986,500
126,000
228,800
772,300
7,962,000
4,978,500
1,100
265,000
2,427,000
360,000 2,251,000
245,000
974.400 1,637,000
6,733,000
7,479,200
3,< 27,200
203,400 1,891,300
764,200
1.506.300
195.400
285,300
1,113,800
10,829,100 1,499,500 2,284,200 10,123,700
205.600
3.194.700
450,800 2,601,600
419,000
80.400
477,400
-1.930.900
3,430,100
520.800
1.222.400
95,300
983,400
257.400
1,190.000
23,000
224.000
193,000
977,000
19.400
131,400
156.300
647,000
2.700
255,400
260,900
2.395.200
1,S5S,40G
294,yoo
889,500
63,100
164,600
830,200
23,200
8,&K)
2.350.400
699,900
45,000
1,897,800
12,343,000 1,328,000
693,000 9,597,000
182,000
15,007,600 1,119,300 2,465,200 8,627,600 1,615,30
761.500
5.185.600
214,200
8,650,200
682,600
332 400
3,532,000
309,7j0 3,057,800
ls0,000
482.100
2.323.300
49.700
2.251.900
3.635.900
101,100
411.300
481*700
1.980.630
108.900
2.930.700
642.100 2.809.300
399.100
1.321.600
57,300
90.100
1,Oil,300
5,400
1.716.500
51,000
291,009
1.587.900
339.800 1,072,400 5,693.2C0
5.849.800
435,000
106,100
1.979.600
395.300
156.400
1,786,000
28/ ,000 3,460,000
11,116,000
9,713,000 2,216,00c
314,200
126.800
1.578.900
1,660,100
245.800
14.200
2,083,300
376.100 2,093,900
3,900
28.900
2,069,200
359.400
1,629,400
300,700
175.800
1.743.200
71,000
1,012,809
443,900
2.963.500
328,000
276.100 2.551.630
447,000
34.200
3.312.900
319,000
4.700
1.967,100
3.816.700
800.400 3,166,000
3,590
719.100
40.500
1.305.700
160,000 1,101,490
8,500
555,009 2.243,000
2,320,000
35*)’, 660
15,786.700
983,100 3,314,700 16,944,900 1,067,200
237.900
11,387,400
3,557,800 14.056,600
533,303
39,000
596.600
69,100
427,700
297,300
103,909
464.600
10.200
446,000
48.500
116,000
741,800
683.500
49,390
89.700
763.300
570,6:90
124,000
2.900
304,200
94.100
414,100
14,104,800 1,062,200 2,318, C00 12,671,800 1,042,8 C
r,422,0(XI
468,000 1,266,000
6,525,000 1,487,000
2,113,000
120,000
404,000
i 69,000
2,093,000
136,500
810.100
3.285.300
3.338.630
357,000
8.861.300
761,700 2,037,400 10,704,000
45,UC0
600,000
5.590.300
987,000 5.604.300
799,000
48,400
1.344.500
2/37,000
859,609
268,500
1.167.800
31,000
215,000
814.230
225,0(10
1,087,400
7,9C0
819.800
1.100.900
180,000
1.971.900
115.900
293,700
1,865,030
3,350,600
67,900
424.400
1.633.300
268, i 66
Total
60,875,230 246,716,900- 16,456,100 42,651,800 213,429,700 19,232,400
No report; same as la*t week.
The deviations from
Loans
returns of
Inc.. $2,709,900
Dec. 1,474,800
Dec. 2,725.200
Specie
Legal tenders
previous week
Net
1878.
Oct. 19.
Oct. 26.
Nov; 2.
Nov. 9.
Nov. 16;
Nov. 23.
Nov. 30.
Dec. 7.
Dec. 14.
Dec. 21.
Dec. 28.
1879.
Jan.
4.
Jan. 11.
Jan. 18.
Jan. 25.
Feb. 1.
Feb. 8.
Feb. 15.
Feb. 21.
Mar.
Specie.
t
f
246.593.100 15,547,800
245.108.100 19.860.500
244,511,800 24.144.100
240.224.200 25.373.200
237.615.500 25.405.400
234.917,700 23.414.400
236.438.400 22.957.400
239.815.500 20.169.100
238,0^7,200 20,882,900
235.974.100 20.911.500
215,824,40
20.514.100
234,250,000 20.986.200
230,682,000 18.962.400
233,1*.8,400 17,344,600
234.416.200 17,431,700
239.241.400 18.633.300
242.280.200 17.849.300
244.186.500 18,059,500
244.007,000 17.911.300
216,716,900 16.456.500
1.
a
L. Tenders.
$
40,729,100
39.962.500
40,219,000
39.155.400
39.938.200
40.588.200
41,275,700
39,961.000
40.478.500
39,600,000
40,767, 00
deposits
Dec.
Dec.
$2,952,900
103,500
series of weeks past;
Deposits. Circulation. Agg. Clear
£
$
S
208.144.600 19,601,200 482,291,920
211,096,700 19,889,100 392,878,293
215.413.100 19,904,300 488,571,553
210.737.600 19.905.400 408,903,425
209.752.100 19.909.400 460,572.731
207,191,800 19,961,900 404,037,742
206,797,200 20,007,000 368,2:8,659
201,058,600 20,058,200 436,695,221
206.134,400 20,141,600 390,741,510
203.625.600 2 \077,000 42 (,244,872
203,209,700 19,576,700 325,696,134
41,c32,600 206,!13,00G
45,055,400 206.492.200
49.965.800 211.590.600
53,599,600 214.981.200
54,043,800 219.219.200
51.135.400
48.334.800
45,377,000
42.651.800
:
Phil.AR.C.AI deb. 7s. cps.off
do mort., 7s, 1892-3
Ogdensb. A L. Champlain
14* 14* Phila. Wllm. A Balt. 6s, *84
58
do
pref..
Pitts.Cln.A8t. L. 7s, con., 1900 100
Old Colony
ICOk 101
Shamokin V.A Pottsv. 7s, 1901
96
Portland Saco A Portsmoutl
Steubenv. A Ind. 1st, 6s, 1884 ioo
103
Pueblo A Arkansas
71* 71* Stony Creek 1st in. 7s 1907...
14
16
Rutland, preferred
Sunb. Haz. A W.,lst m.,5s,’23
72
82
114
Vermont A Massachusetts..
Sunbury A Erie 1st m. 7s, ’97.
Worcester A Nashua
34
Texas A Pac. 1st m ,6s, g.,1905
do
cons. m.,6s,g.,1905
PHILADELPHIA.
do
inc.Al. gr ,7s 1915
Union A Titusv. 1st m. 7s, ’90
STATE AND CITY BONDS.
United N. J. cons. m. 6s, ’94.
Penna. 5s, g’d, tnt.,reg. or cp.
Warren A F. 1st in. 7s, ’93
85*4 80*4do
5s, cur., reg
West Cheater cons. 7s,’9i.
116
118
do
5s, new, reg., 1892-1902 i
West Jersey 6s, deb., coup.,’83 87
101
do
68,10-15, reg., H77-’82.
ioi*
do
1st m. 6s, cp.,’96
109*
do
6s, 15-25. reg., 1882-’92.
109*
do
1st m. 7s.’99
103
109
do
6s. In. Plane, reg.,1879
Western Penn. RR. 6s,op.’.899 100
:°0*4
Philadelphia, 5s reg
do
6s P. B.,’96. 90
lOo*
do
6s, ola, reg.
CANAL BONDS.
do 6s,n., rg., prior to’95 115
117
do 6s,n.,rg.,i895A over 117
117* Chesap. A Dela. 1st 6s, rg.,’86
Delaware
Division 6s, cp.,’78.
Allegheny County 5s, coup...
Allegheny City 7s, reg
Lehigh Naviga.m.,63, reg.,’84 106
106k,
do
mort. RR., rg.,’9
Pittsburg 4s, coup., 1913
106*4
do m. conv. g., r< g.,’94
do
90
5s, reg. A cp., 1913. 85
do mort. gold, ’»7
do
6s, gold, reg
do cons. m.7s, rg ,191! 193*4
do
7s,w’t’rln,rg. Ac *. Fl2 115
103
<lo 7s, str.lmp., reg.,’33-36*
no* Morris, boat loan, reg.. <885..
N. Jersey 6s, reg.and coup...
Pennsylvania 6s, coup., :9i0..
do
Schuylk. Nav.let m.6s,rg ,’97.
exempt, rg. & coup.
Camden County 6s, coup
do
2d m. 6s. reg., r.K)7
do 6s, boatAcar.rg.,1918
Camden City 6s, coupon
do 7s, boatAcar.rg.,19 5
do
7s, reg. & coup
Delaware 6s, coupon
Susquehanna 6s, coup., .9.8 .*
Harrisburg City 6s, coupon.
.BALTIMORE.
RAILROAD STOCKS.t
Maryland 6s, defense, J.A J.. 108*4 108k
Camden & Atlantic
do
6s, exempt, 1887
112
115
do
do
pref
40
do
6s, 1890, quarterly.,
Caiawtssa
do
0*
5s, quarterly
do
pref
Baltimore 6s, <S8I, quarterly. 108
do
new pref
32
do
6s,; 866, J.A J
108
Delaware A Bound Brook....
do
6s, 189J, quarterly...
East Pennsylvania
do
6s, park, 1890, Q.—M.
Eimira & Williamsport
do
6s, 1893, M. A S
do
do
pref
do
6s,exempt,’93,M.AS
Har. P. Mt. Joy & Lancaster.
do
1900, J.A J
Huntingdon & Broad Top.
do
1902, J. A J
do
do pref.
Norfolk water, 8s
Lehigh Valley
RAILROAD STOCKS.
Par.
Little Schuylkill
Balt. A Ohio
100 94k
Minehlll
95*4
do
Wash.
19.849.800
19,785,000
411,598,790
424,413,225
19.767.600 486,222,549
19,017,600 507,331,749
19.486.600 611,674,082
219,387,300 19,427,100 493,410,515
217.271.200 19.398.800 452,120,133
216.382.600 19,335,900 434,908,904
213,429,700 19,232,400 516,297,715
^ #
••••
...
...
••
....
Bid. Ask.
8XOUBITIK8.
8ECURITIB8.
BOSTON.
Maine 6s
New Hampshire
Vermont os
Hartford A Erie 7s, new
Dgdensburg A Lake Ch.Ss..
<fs
...
Massachusetts 5s, gold.......
Boston 6s, currency
do
5s,gold
■
Chicago sewerage 7s
•
•
Old
• •
do
6s
Omaha A 8. Western,8s
Pueblo A Ark. Valley, 7a....
Rutland 8a, 1st mort
Vermont a Canada, new 8s.
Vermont & Mass. RR.,6s....
do
Municipal 7s
...
...
....
Atch. A Tcpcka 1st m.7s
110
do
land grant 7s 112
«in
do
Boston a
do
....
Albany 7s
•
6s
iis*
112
Atchison A Topeka
113
Boston A Albany
Boston A LowelBoston & Maine
Boston A Providence
....
Burlington A Mo. In Neb...
Cheshire preferred
.Boston A Lowell 7s
Boston A Lowell 6s
Boston A Maine 7s
boston A Providence 7s
Burl. A Mo., land grant 7s....
do
Neb. 6s
do
Neb.8s,1883
Conn. A Passumpslc, 7s, 1897.
....
Eastern, Mass.,8*s,
Fitchburg RR., 6s
do
.
*
new.
...
7s
Kan. City Top. A W., 7s, 1st
,do
ao
78, Inc
.
...
Chic. Cllntoa Dub. A Min...
Cin. Sandusky A Clev
••
Concord
Connecticut River
105k Conn. A Passumpslc
Eastern (Mass.).
Eastern (New Hampshire)..
67* 68
Fitchburg
Kan. City Top. A Western..
117
1X8
Manchester A Lawrence...
Nashua A Lowell
107
New York A New England..
...
75
80
116
...
i
10«k 106k
133
68
111«
109
122
26
43k
4*
10R
105
3594
•
•
1
.
....
Nesquehoulng Valley
Norristown
Northern Pacific
do
pref
North Pennsylvania
:.
27*4
35
Pennsylvania
Philadelphia A Erie
Pniladelphia A Read ng
7*4
Sg
13*4
Pittsburg A Connellsvtlle..50 104*4
RAILROAD
105.
BONDS.
do
6s, 1885, A.AO.
N. W. Va. 3d m.,guar.,’85,JAJ
Plttsb.A Conneirsv.ls,’93,J fcj
Northern Central 6s. ’85, J&J
do
6s, 1900, A.AO.
.
Phtla.Wllmtng. A Baltimore
4
Pittsburg Titusv. A Buff....
136*4
United N. J. Companies
West Chester consol, pref....
20
West Jersey
CANAL STOCKS.
Delaware Division
Lehigh Navigation..
15k
Morns
do
pref
107
100
104*4,105
105
106
do 6s, gld, 1900, J.AJ. 100
Cen. Ohio 6s, lBt m.,’90,M.A S. 102
W. Md. 68,1st in., gr.,’90,J.AJ. 108
do
1st m., iS90, J. A J... 102
do
2d m.,guar., J.A J
108
do
2d m., pref
82
do 2d m.,gr. by W.Co.JAJ 102
do 6s. 3d in., guar., J.& J. 108
Mar. A Cin. 7s, ’92, F. A A
86
56
Chesapeake A Delaware...
Peansylvania
Schuylkill Navigation
Branch. 100 133
do
Parkersb’g Br..50
Northern Central
50 13*4
Western Maryland
50
Central Ohio
50 ibi
12J4 Balt. A Ohio 6s, 1880, J.AJ.... 101*4
Philadelphia A Trenton
i*27
....
100*
85
90*.
...
...
do
2d, M.AN
do
8s, 3d, J.AJ
Union RR. 1st, guar., J. & J. 101
do
Can on endorsed. 95
pref...
RAILROAD BONDS.
Allegheny Vai., 7 3-lOs, 139S ..
do
7s, E. ext., 1910
do
Inc. 7s, end.,’91
Belvidere Dela. 1 et m., 6s,1902.
do
2d m. 6s. ’85..
do
3dm. 6s,’37..
Camden A Amboy 6s,coup,'33
do
6s, coup., ’89
do
mort. 6s, ’89
Cam. A Atl. 1st in. 7s, g.,1903
do
2d m., 7s, cur.,’79
Cam. A Burlington Co. 6s,’97.
Catawlasa 1st, 7s. conv., ’82*..
do
chat, m., 10s,’88
do
new 7s 1990
Connecting 6s, 1900-1904
Chartlers Val., 1st m. 7s,C.,1901
Delaware mort., 6s, various..
Del. A Bound Br., 1st, 7s. 1905
East Penn. 1st mort. 7s, ’88
El. A W’msport, 1st m., 7s, ’SO.
do
5s,perp
..
Harrisburg 1st mort. 6s, ’81.
H. A B. T. 1st m. 7s, g >id, ’90
do
2d m. 7s, gold, ’95.
do
3dm. cons. 7s,'95*
IthacaA Athens 1st g d, 7s.,’9,
Junction 1st more. 6% ’82
do
2d mort. 6s, 19 X)..
L. Sup. A Miss., 1st m.t 7-, g.*
Lehigh Valley, lst,6s,cp., 18Jb
do
do reg., 1893...
do 2 1 m.,*8, reg., 1910
do
con. ni.,6s,rg.,l92S
do
do
6s, p.,19 8
scrip....
Pa.AN.Y.C.A RR.7s,!895
Pennsylv., 1st m., 6s, cp., ’80..
gen. m. 6s, cp..1910
gen. m. 6s, rg., 19(0.
cons.m 6-,rg., 1905
cons. m. 68. cp., 1905.
Navy Yard 6s, rg,’31
Perkiomen 1st m.6s,coup.,V.
Phila. A Erie let m.6s, cp./Bi
90*
MISCELLANEOUS.
27
Baltimore Gas certificates.
07
People’s Gas
CINCINNATI.
...
100
13
.
Cincinnati 6s
do
7s
do
7'30s
SI*,104
Iu7*
t 100
t 103
t 112
South. RR. 7'30s.t
do
do
6s, gold t
Hamilton Co., O., 6s. long...+
ao
7s, 1 to 5 yrs..f
LO8L4!;:*:
do
7 & 7‘30s, long.t
Cin.A
Cov.
Bridge
st’k, pref.
100
100*4 Cin. Ham. A D. 1st m. 7s, ’80 +
100
2d m. 7s, ’85 t
do
Cin. Ham. A Ind.,7s, guar....
116
108
.
...
103k
104*4*106
70
do
.
112
Ind. Cin. & Laf. 1st m.7s.
do
(I.AC.) 1st m.7s,’8! +
Little Miami 6s, ’83
+
Cin. Ham. A Dayton stock.
Columbus A Xenia stock.
1054$ 106*4
112*4
111*
100k
101
101
100
101
98
50
ioa
73
108
106*4
108
t
101*
100
60.
102* 105.
80
104
106
102
102*
100
03
100
87
too
90
90
18
..
8. p.c.
do
Little Miami stock
20
st’k.gua
ioi*
LOUISVILLE.
Louisville 7s
t 103
6s,’82 to ’87
+
6s,’97 to ’94. j
t
water 6s,’87 to ’89 +
water stock 6s,’97.+
99*
99*
99*
wharf 6s
99*4 100*
99*
+
spec’l tax 6s of’89.+
99* 100,
Louisville Water 6s, Ce. 1907 + 103
118
104* 104*4 Jeff. M.Al.lstm. (1AM) 7s,’8l1
2d m 7s,cp.,’S8.il06
do
Phila. A Read. 1st m.6s, ’48-’4A 102
da
’48-.19.
2d m., 7s, '■p.. £f 115
do
’
100
Dayton & Michigan stock.,
116* 117
101
10!k
101*2 lu2
113*
103^ 104
101 102
109
112
101
...
108
1 l'k
3d m. 7s,
’88+
Dayton A West. 1stm., ’8I...+
do
1st m., 1905
do
1st m.fr's,!90;'
114*2 116
25
108
do
Cin. A Indiana 1st m. 7s.;.
do
2d m. 7s,’17...
Colum. A Xenia, 1st m. 7s, ’90
Dayton A Mich. 1st m. 7s, ’8; +
do '
2dm. 7s,’84.+
Little Schuylkill, 1st m. 7 s,’’2
North. Penn. 1st m. 6s,.cp.,’85
108*
no
do
2d m. 7s,cp.,’96.
do gen. m. 7s, cp., 1903 110*
do gen. m. 7s, reg., 190J
Oil Creek 1st m. 7s, coup.,’8.*. fc2*
PlttBb. Titusv. A B.,7s,cp.,’96 20
do
34
15
iF
Susquehanna
do
94
2dm., 7b..
do
1st m.,7s, 1906....+ 109k
Loulsv. C. A Lex. 1st m.7s,’9I* 109*
Louls.A Fr’k.,Louisv.ln,6s.’3
Loulsv. A Nashville—
Leb. Br. 6s.’86
....+ 100
1st m. Leb. Br. Ex.,7s,’30-s5.+ 100
Lou. In.
do
6s, ’j3. .+ (100
Consol. 1st m. 7s. ’98
109*$
Jefferson Mad. A Ind stock. 1J3*
Louisville A Nashvl le slock. 40*|
ST. LOUIS.
deben., cp./fk*
L
25
St. LOUlS 68, l0«g
do
+ 105
cps. ot.
do
water
68.
do
100
gold.
;...+•
scrip, 1832.
50*4
do
do
do
do
In. m.7s, cp,1896
new.f 10?
do
do cons. m. 7e, cp.,1911... 103*4’104
bridge appr., g. 6s + 107
do
do cons. m. 7s, rg.,19’.l.; 103* 1 4*
renewal, gold, 6s. + 107
ao
do cons.m.6s,g .1.1911....
sewer, g. 6s, ’9.-2-3.+ 107.
43
St. Louis Co. new park,g.6s.+ 107
do conv.7s, 1893*....-...
do
cur. 7s
do
+ 107
7s, coup, off, ’93 26*
Phila.A Read. C.A 1. deb. 7s,92
t And interest.
*
In defau’t: % p(*r share.
do
do
140
70
112
110
123
•
...
..
108k 109*4
STOCKS.
9r1 7a
land Inc. 8s..
107& 107*
....
....
...
Portland 6s
Colony, 7s
•
.
.
QUOTATIONS IN BOSTON, PHILADELPHIA AND OTHER CITIES.
m
...
do
Circulation.
The following are the totals for
Loans.
are as follows
90
Norwich A Worcester,...,
„
•
*
•
•
95
ill
no
100*
iro*
100*
100*
no
104
<n*
106*
248
THE CHRONICLE.
QUOTATIONS
OF
STOCKS
AND
BONDS
IN NEW YORK.
Prices represent the per cent value, whatever the
par may be.
U* S.Bonds and active Railroad Stocks arc
quoted on a previous page.
STATE
BBOUBITOS.
Alaoama
do
do
do
do
do
do
<lo
do
5s,
5b,
8s,
8s,
8b,
8b,
Bid.
1883
1886
48
1886
48
1883
M.AE.RR..
Ala. & Ch. R.
48
'do
•
•
•
•
• •
•
•
*
#
• • •
20
20
49
70
•
•
•
do
do
• •
54*
56*
do
do
do
do
do
•
20
do
•
.
.
.
50
.
•
.
2
7b, Ark. Cent. RR...
Connecticut 6s
Georgia 6s
do
7s, new bonds....
do
7s, endorsed.
do
7s,gold bonds...
•
•
•
<
1+6%
109%
110
•
•
•
lioy
...
«««
do
do
do
do
.
Harlem
Joliet & Chicago
53*
-
’83
1336
1837
154*
157
v.
Long Island
Nashv. Chat. A St. Louis.
Hew York Elevated RR..
H. Y.New Haven*Hart.
Ohio A Mississippi, pref
Plttfl. Ft. W. A Ch spec..
Rensselaer A Saratoga
St. Louis Alton * T. H....
do
do
pref.
Terre Haute A Ind’polls..
United N. J. R. A C
160
98
Miscel’ous Stocks.
Adams Express
American Express
United States Express....
Wells, Fargo & Co
Qu ckBllver
do
pref.
105* 106
49* 49*
48* 49%
99
99%
11
32*
33*
Atlantic A Pac. Tel
Am. District Telegraph...
Canton Co., Baltimore....
American Coal
Gonsolidst’n Coal of Md..
Cumberland Coal A Iron.
do
do
pref.
Ontario silver Mining....
HomeBtake Mining
Pullman P-l. Car
Railroad Ronds.
8toc* Exchange Prices.)
Boatoi H. A Erie, 1st m..
do
guar.
C. R A North., 1st 5b..
...
Bn \
Minn.* St.L.,lst 7b gua
Chesa. A (>, pur. m’y fd
do 6*g,8er.6,ln .def.
do 6s cur , In:, def...
Chicago A Alton 1st mori.
do
Income,
di
sink’g fund
Joliet A Chicago,1st m.
La. A Mo., 1st in., guar..
St.L.Jack.A Chlc.,lst m.
Chic. Bur .A Q. 8 p.c.,lstm
do
consol, m. 7s
do
Sssink.funi
Ch.Rk.I.AP.,s.f.lnc.6s,’»5.
6s, 1917, coupon
6b. 1917, regfst’d
Keok.AD M’s.lst 1 g.,5s
Central of N. J., 1st mM ’DU
do
do
do
do
1st consol.
..
.
assented
-
58%
44*
35
3 s%
45%
30
20
'*8
10
140
130
t
-
*
•
^
*
T
.
+97
r
do
© ®
M
T
^
•
.
...
119*
a.
do
do
do
do
102%
107%
106*
115
do
104*
....
99%
+32
2d mort..
Lake Shore—
Mich S. A N.Ind.. S.F., 7 p.c
110%
Cleve. A Tol. sinking fund.
I0t*
do
new bonds....
Cleve. P’ville A Ash., old bdi
102*
do
do
new bds
+ H4
Buffalo A Erie, new bonds...
114
Buffalo A State Line 7s
112
no
m*
•••
•
104
-
*
-
110
assented
adj’mt b., 1903.
Lehigh & W.B. con.guar
Det. Mon. A ToL.lst 7s, 19C5
Lake Shore Dlv. bonds
do
Cons. coup.. 1st.
do
Cons, reg., 1st.,
do
Cons, coup.,2d.,
do
Cons, reg.,2d...,
Marietta A Cln. 1st mort
do
sterling
CBrokers' Quotations.)
116
CITIES.
116
117
Albany, N. Y., 6s, long
108*
Buffalo Water, long
108* 109*
Chicago 6s, long dates
8I»s 91
do
7s, sewerage
do
7s, water
96
96%
do
7s, river lmprovem’t
110
Cleveland 78, long
113* Detroit Water
-
-
-
,
•
6
„
..
....
„
...
il'i I
Western Pacific bonds
Southern Pac. of Cal., 1st m.
Onion Pacific, 1st mort. b’ds
do
Land grants, 7s
do
‘
Sinking fund...
do
registered Ss...
Pacific R. of Mo., 1st mort...
do
2d mort
do
Income, 7s.
do
lstCaron’tl
South Pac. of Mo., 1st m....
105%
....
95
do
1st 7s, 10 years,
do
2d 7s, 20 years..
Urb. Bl. A P. 1st m. 7s, g.
Denver Pac., 1st m.7s,
ld.gr.,g.
do
do
con. m.,
10
93
215
96
...
tno
52
56
25
tl09
....
.
....
....
....
,
..
till
50
40
105
.
-
tl05«
109
102
tl()6
no
115
West, dlv
Waco
<
do recelv’s ctfs.(labor)
do
do
(other)
fc Rome 7s,
78, gi
juar
“ J' '1st mort..
3kil3
In A
.
....
•
•
• • •
• • •
...
•
•
•
•
•
• •
•
do
do
do
class B.
do
class C.
.
•
•
• •
...
t And accrued interest.
101
114
116
105
113
+101
no
93
103
97
101
90
43
40
80
32
88
50
95
76
£6
99
95
48
45
85
38
92
51%
105
+91
41*
45
100
95
ioi
91
70
4
99
74
101
93
45
52
do
+No price to-day
2d, gnar
; tuese aie
117
91
*25
98
92
66
36
34
55
105
+6*
'85
82
89
105
1!3
115
102
103
95
75
77
8
35
50
70
45
99
55
20
20
20
35
8
8
20
Bonds A and B
Endorsed. M. A C. RR.
Compromise
Mobile 5s (coups, on)
8s
(coupons on)
New 3s
Nashville 6s, old
6s, new .......... ......
New Orleans prem. 5s,...
Consolidated6a...
80
30
85
45
25
..
.....
Railroad, 6s..
100
Petersburg 6s
95
107
8s
Richmond 6s
78
8s, gold
)
RAILROADS.
•
Cheraw A Darlington 8s..
East Tenn. A Georgia 6a..
E. Tenn.A Va. 6s.end.Tenn
E. Tenn. Va. A Ga. 1st. 7s.
Stock
101
•
1st,6s, Tenn.A Pac. ur
1st, 6s,McM.M.W .A Al.Br
.
•
75
65
20
79
80
26
30
108* 110
102
105
97
98
55
15
•
•• •
•
•
•
•
90
78
45
16
93
69
2d ra. 8s, guar
:
PAST DUE COUPONS
39
37
Tennessee State coupons..
South Carolina consol
Virginia coupons
...
conn....
Memphis city coupons....
latest quotation! made this week.
41
106
100
114
92
75
70
Orange AAlex’dria, lets,6s,
<.<18,68.
3d s, 8s.....................
4ths,8s
Rich, Fred. A Potomac 6s.
Southwest.,Ga.,conv.7s,’86
Southwestern. Ga., stock.
3. Carolina RR. 1st ra. 7s.
6*
97*
118
89
70
100
103
99
95
109
.....
99
40
106
10 2
80
90
44
100
99
80
•
•
Nashville A Decatur 1st 7b
Norfolk A Petersb.lst mils
1st mort. 7s
2d mort. 8s
Northeast., S.C., 1st m. 8s.
2d mort. 8s
•-...
mort.7s.......
....
Rich.A Danv. 1st consol.6f
78
88
60
89
95
96
78
5
40
103
...
Certificate, 2d mort. 8s.
110
90
95
80
J04
100
75
•■••••■
Nashville Chat. A St. L. 7e
35
35
90
stoclc...•••••a** ••••••••«
Greenville A Col. 7s, 1st m.
7s. guar
Macon A Ajng.21 endorsed
Memphis A Cha’ston 1st 7s
2d 7s
fctock
2d mort. 8e
New 1st mort
New debentures
N. O. A Jacks. 1st m. 8s..
60
104
Georgia RR. 7s
Memph. A Lit. Rock 1st 4s
Mississippi Cent. 1st m. 7s
2d mort., ex coupons....
Miss. A Tenn. 1st m. 8s, A.
lstmort.,8s, B
Mobile A Ohio sterling 8s
Sterling ex cert. 6s
8s, interest
••
20
100
20
30
109
72
86
55
Charl’te Col.AA., cons. 7».
do
do 2d 7b.
•
70
70
on
Consol., end. by Savan’h
Consol,
ii*2
85
coup
Carolina Cent. 1st m. 6s,g.
Cent. Georgia consol.m. 7s
Stock
••••••••
32
32
105
65
65
75
•
Ala.AChat.,Rec’sctfs ,var
Atlantic A Gulf, consol..
...•••
81
90
103
...
HGW••••••-«••••••
Wtlm’ton,N.C.,6s,g.)
40
72
80
25
29
28
Norfolk tts
7s, non mort
95* Savannah A Char.1st m. 7s
Cha’ston A Sav. 6s, end.
35
West Ala., 1st mort. 8s....
108
79
101
60
Montgomery, new 5s......
7s, 1902,non*enjolned...
60
100
108
102
102
55
75
60
105
97
100
Waterworks
Augusta, Ga., 7s, bonds...
Charleston stock 6s
Charleston. S. C., 7s, F. L.
Columbus, Ga., 7s,bond6.
Lynchburg 6s
Macon bonds, 7s
Memphis bondt C...*....
...
103*
28
80
90
85
53
80
89
10s, pension, 1894.. J.AJ. + 101
CITIES.
Atlanta, Ga., 7s
98
6s.
t!04
+99
'102
88
M.AS. tl03
102* Savannah7s, old....
113
111
-
...
50
107
...
•
•
tin
tlOJ
t!12
105
98
100
98
100
consol, bds..
95
98
60
65
i <», gr¬
90
93
ist 7s...
75
80
20 '
tT07
104
109
04.
100
115
+112*
; island RR., let mort.
99
101
3V. A Nashv. cons. m. 7s.
110
do
2dm., 7s, g..
99
100
*102
29
35
35
40
105* 106
.
•
108
113
106
no
112
no
114
114
60
bo
1st 7b,g., certs.
C. 1st 7s, gold..
82%
*98
8fl
40
do
do
do
..
irrlce nominal.
99
tii 2
1110
+101
till
fl 12
99
84
7s, gold, 1892-1910..J.AJ. +112
7s, gold, 1904
J.AJ. +113
80%
65
*85
....
81%
STATES.
Texas 68, 1892
100
Flint A Pere M. 8s,Land grant.
W., Jackson A Sag. 8s, 89
id R.A Ind. Ist 7s,
l.g., gu
do
ist Is, 1. g., notgu
do
1st ex 1. g. 7s,
81% 82%
small
registered
..
102
Fort
45
8
S. Carolina con. fis (good).
Rejected (best sort)
105*
7s, equip...
A Nashv. 7s..
51*
41*
Sard. Mans. A Newark 7s.
S. Side, L. 1., 1st m. bomb.
do
sink, fund..
S. Minn. 1st mort. 7s, ’88..
South. Minn.. 7s, 1st
Tol. Can. S. ADet. 1st 7s, g
Union A Logansport 7s
Un. Pacific, So. Br.,8e. g..
So atli’n Securities.
69
awfordsv.,7s..
....
•
7s..
do
26%
(Brokers' Quotations.)
63
136
1104
.
new aeries
do
86*
81
99
78
107
48
....
....
*
2
....
80%
..
..
^110%
.w.
105
111
...
•
94H
^
T
Metropolitan Kiev., 1st, 1908.
Mich. Cent., consol. 7s, 1902...
40*
1st m. 8s. 1882, s.f
do
30
Works 7s.......
do
equipment bonds tiVo*
Elizabeth City, short
Mo.K AT.,conB. ass., 1904-5-8.
57* 58
do
long
2ilm.lnc.,19
21% 21* Hartforddo
6s, various
H. A Cent. Mo , 1st, 1890.
99
99* Indianapolis
37
7-SUb
New Jersey Southern lstm.
33
50
38*
and City
do
consol. 7s, 190
l
Newark City 7s long.
71* 72
N. Y. Central 6s, 1888
+105
106*
+90
do
Water 7s, long..
do*
6s, 1887
98
+93
Oswego 7s
do
6s,
real
estate.,
+106*
35
38
ghkeepsle Water..
do
6s, subscription.
io6
8
Roc heater C. Water hd«..
1903.
121* 122
115
119
do
do
121
lstm., reg.
106*
Hudson R. 7s, 2d m., s.f., 1885
115
103*
Canada South., 1st guar..
79% 79*
107*
Harlem, 1st mort. 7s,coup... 122>4
RAILROADS.
104
do
do
7s. reg...
123
>n A P.
123*
Peak, 6a, gold.
no*
_r. Y. Elevated RR.,lst m.( 1903 105
10o%
I
113* North Missouri, 1st mort
110*
117% Ohio A Miss., consol, sink. fd. 106* 108
old..
do
consolidated.... 10** 107
do
m. g.
do
2d do
91
*0*
112
+m%
do
1st Spring, dlv..
35
60
112
in*
Pacific Railroads—
90
95
Central Pacific gold bonds..
109
do
2d m. Inc. 7s.
118
do S&n Joaquin branch !00%
100*
ioo
do Cal. A Oregon 1st
98
do
do
09*
1.
gr.. Os, g
84% '84*
do Stnte Aid bonds
108
109
100
do Land Grant bonds..
100
985^
j»4
83*
67
T
Miscellaneous List.
114
+i‘i5*
4*
97*
^
100
reg...
•
....
109% 109*
do
do
asseuted.
48* 50
Am. Dock A Imp. bonds
112* 113%
63
65
107
do
10s*
do
kssented.
63
.64
101*
Ch.Mll.A St.P.lstm.8s.P.D 123
do
105% 105*
2d m. 7 3-10, do
iod
105
do
1st 7s,fg.,K.D
109
do
lstm.,LaC.D.
do
lstm.,I.AM...
108*
do
94*
Istm.,1. & D.
do
latm.,H. & D. +104
105
do
116
do
lstm.. C. &M. 110
do 1st m., 6s, 1896
do
consoi.slnk.fd 102%; 103
do
with coup, ctf 3.
do
2d m
ii3%
do
1st, 7s, Leaven. br.,’96
do 1st m.,7s, I.AD. Ex
ioo
do
with
coup.ctfs
Chic. A N. West. sink, fd 7108
do 1st, 7s,R.AL.G.D'
do
lnt. bonds, 106
do
with coup, ctf8...
do
*93*
conBol.bde 116* 117*
1st m., 78, I’d gr., ’80.
do
do
ext’n bds..
106
do
with
coup.ctfs.,..
102
do
105
lstmort..
108*! 108%
do 2d mort.,7s. 1886.
do
cp.gld.bds. 106* 107
do
with
coupon
ctf
*.
41
do
!!!!
reg. do
1105*
do
31
Iowa Midland, ist m. 8s.
do Inc. cp. No. 16on 1916
Galena A Chicago Ext
31*
31*
104* 108%
do Den.Div.Tru8t Re *...
Peninsula. 1st m., conv.
98* 98%
do
Detached
80
coup. do.
Chic. A Mllw., 1st mort. 115
ns
Pennsylvania RR—
W luona A St. P.. l st m..
106* 107
Pitts.
W.
A Chic., lstm..
Ft.
123
do
2d mort.
102
do
do
2d m..
C
121
.C.C.Alnd’sl8tm.7s,SF. 115
do
do
3d m..
116
do
118
consol, m.bdt
97
99*
Cleve.
A
Pitts., consol., s.f.
Del. Lack. A West., 2d m. 104
119
*0o^>
do
4th mort....
111
do
7s, conv. 105
Col. Chic. A Ind. C., 1st mort
do
mert.. Ts, 1907
63% 63*
105%
do
do
2d
mort
Syr. Blngh. A N.Y. itt.is
+
23*
107
do
Tr. Co ctf.,13t cons.
jaorris A Essex, 1st. m
120
122
Rome Watert’n A Og.,con. 1st
do
2d mort.
34*
108
10-i
St. L. A Iron
Mountain, 1st m. 109 110%
do
bonds, 1900. t
90
do
do
2d
indo
constructs +85
87
St. L. K.A N. R’l E’e A
do
R.,7s, ’95 1)8
7s, of I87i
99%
St. JL. Alton A T. H.,lst mort.
do
1st con. guar.
+111
95
do
2d mort.,pref..
82*
Del.AHud.Canal, 1st m.,’8s
99
do
99%
2d mort. lnc'me
44
do
46
do 189:
98
99
Belleville A 8. Ill.R. 1st m. 8s
do
1st extended
108*
95
97
Tol. Peoria A Warsaw, 1st K.L
do
coup.^8. 1S91
102
do
1st W. D
do
reg. 7s, I8u<
1(»5J
do
Burllngt’n Dlv
do 1st Pa riiv.c.7s,l9l7 100
do
100*
2d
inori. 1886
do
reg
100* 10'.)!*
do
consol. 78,1910
Albany A Sosq. 1st hds
Ill
rdo
1112%
P.Com.Kcpts.lst.E.D
do
.d »to..
101%
103*1105
do
do
Ist, W.D
2d mort
do
*
12
12
25
25
137
106
Extended, ex coup..
equip’t bonds...!...
'
do
*
68,
Virginia 6s, old
6b, new bonds, 1S66
1867
6b,
do
6b, consol, bonds.......
6s, ex matured coup
6b, consol., 2d series
6a, deferred bonds
D. of Columbia S"65s, 1924.
m
36
RONDS.
coupon
.
conv
*
istm.St.L. dlv.
+115
ex-matured coup....
r‘6
do
do
,ft
l
1
1
104
Income Bonds.
rentral RR. of N. J
'908
Leb.A Wlikesbarre Coal..1888
-
...
7
do
con. convert.
do
ex coupon
Great Western, 1st m., 1888do
ex coupon
do
2d mort., ’93
do
ex coupon
Quincy A Toledo, 1st m., ’90..
»o
ex coupon
Illinois A So. Iowa, 1st mort
do
ex coupon.
Pekin Linc’ln A Dec’t’r,lst m
Western Union Tel., 1900, cp.
116
115*
...
ndlanap. Bl. A W., 1st mort..
ex
Funding act, 1866
10%
AND
112
25
10
10
10
10
10
10
1
S3
24
24
28
28
28
74
•
80
80
7
Ask-
108*
LandC.. 1889, A< A 0....
7s of 1888.:
21
Non-fundable bonds
20% T3nne8see 6s,old...
do
6s, new
*
20*
20%
1863
Bid.
Land C., 1339, J. & J
*
100
100
lnc* ^or cons’d...
Wabash,, 1st m. exteno.
,
lol. A
do
*87%
120
105* ;106
do
do
2d dlv
Cedar F. A Minn., 1st mort.
AJ,
Tol. Peoria A War.,
Bur. D
do lstp ef.mc for21M
|
....
■ •
ibo
'
Carolina—>3, old. J.
•
121
122
New bonds, J. & J
do
A. & O
Special tax. Class 1
do
Class i
do
Class 3
Ohio 6b, 1881
©
.
96
lste.ons.gua
do
..1891..
1892
..1893
.
MISCELLANEOUS STOCKS
Rens. A Saratoga, 1st coup.
do
lstre?...
Denv.A Rio Grande 1st m.,190! j
87
Erie, 1st mort., extended
118*
do
2d
do
+102
7s, 1879
do
3d
do
7s, 1883
106%
do
4th do
7s, 1830
105%
do
5th do
7s, 1888
do
1042^
do Long Do
115
Buff N. Y. A E. 1st. m., 1916.
113*
do
do
do
do
8SCTTBITIK8.
Ohio 63.1886....
R lode Island 6s, cp., ’93-4
South Carolina 6b..
,...
Jan. & July
April & Oct
.
110
110
Funding act, 1866
105
107
100
95
•
105
105
.
.
-
*
...
159*
do
do
\Bk.
105
105
..
....
104*
104*
.
Maryland Coal
Pennsylvania Coal
Soring Mountain Coal...
MirlposaL. AM. Co
-
,
103
104
104
or
do
6s,
68,
do
A. & O
N.C. RR
J. & J
do
..A.AO
do coup, off, J. A J
do
do
off, A. A O
53*
....
31
#tt
6a
North
"51
101
105
AND
•
20
Asylum
Funding, due 1834-5
'
.
*
37
...
d
-
37
37
87
37
37
37
Albany A Susq.,3i bonds..
Active previ'usly quot'd.)
Albany A Susquehanna...
Burl. C. Rap. A Northern.
Chicago A Alton, pref...
Dubuque A Sioux City.
Bid.
.
.
do
do
do
1833.
do
18S9 or ’90....
or Un.,due 1892
RAILROAD
Railroad. Stocks.
BSOTJ BITIK B.
Missouri— Ian. A 8*. Jo.. 1335.
do
•
do 1837
New York State—
6b, gold, reg....l837
6s, do coup.. 1887..
f*. do loan... 1883
....
101
7s. small
do
7s. 1890
Missouri 6s, due 1882
,
BONDS.
Ask.
ioi
Michigan 6s. 1873-79
do
6s, 1383
•
•,
,, ,
100*
...
•
Bid.
6s, new
6s, new lloat’g debt.
7s, Penitentiary
6s, levee
8s, do
8s, do 1875
8s, of 1910
7s, consolidated
do
2
2
2
2
105
7S.L.R.P.B. AN.O
7b, Miss. O. A R. R.
BKOUHITIRS
Illinois 6a, coupon, 1879
do
War loan...
lentuclty 6s
Louisiana 6a
....
....
8b of 1892
8a of 1893
ClaBS A
do
Class B
do
Class C
Arkansas 6s. funded
do 7s. L. R. A Ft. S. las
do «3, Memphis A L.R.
do
do
Ask.
43
VOL. XXVIII.
....
86
102
no'
90
•
•
96
85
55
20
• •
100
85
105
86
97
35
5
80
110
110
88
no
...»
99
40
30
10
40
114
114
15
25
40
20
«•••
....
76*
78
15
25
4
THE CHRONICLE
Mabch 8,1878.’
249
iznrixi.
For
For motive power
and
For malDtefcSnce'Of
The Investors’ Supplement Is
published on tbe last Saturday
of each month, and famished to all regular subscribers of the
Chronicle. No single copies of the Supplement are sold at the
office, as only a sufficient number is printed to supply regular
subscribers. One number of the Supplement, however, is bound
up 'with The Financial Review (Annual), and can be purchased
shape.
ANNUAL
year
..........
-
Inct’seorHec.
8,098,3? 7.
Inc
$191,174
141,805
.
Dwj.
Tdb.
827,919
865,461
842,099
$10,921,103
$10,751,133
Inc.
$169,964
Net earnings from operating main
line and branches
$9,396,036
$8,28*2,317
Inc .$1,163,71$
«*,183.46*"
Dec.
$361,016
De?.
67,803
14,249
Inc.
14,219
23,856
Inc.
Add interest from investments (in
cash)
.....
ft,804,86
........
Add interest from branch roads for
use c f cqaipment.
Add royalty from M. RR. & M. Co.
on coal mined
Add Empire Line net earn¬
Less payment to icur trusf...
Deduct
Interest
ending December 31, 1878.)
1817.
$1,1*9,453
Dec.
Inc.
ings
REPORTS.
1878.
$4,481.438
2,950,931
1,260,471
1,86*.786
2,185.436
845,555
Pennsylvania Railroad.
(For the
cars
For maintenance of way
For general expenses
STATE. CITY AND CORPORATION FINANCES*
in that
conducting transportation.
277,916
$157,695
183,839-
-
343,120
19,905
.
28,856
$11,516,904
$10,743,893
Inc.
£778,004
$609,055
$588,784
Inc.
$20,270
49,460
69,479
Dec.
20,019
Payments.
on
branch roads
equipment
charged
Kent Harrisburg & Lancaster HR.. .*
Dec.
132,572
130,917
1,655
report for 1878, just submitted by the Interest
on bonded debt
3.3 3,1F5
Dec.
3,310,035
8,10
directors, the following is condensed :
Balance of interest account
Inc.
215,027
*12,532
202,494
George B. Roberts, first vice-president, signs the report, in the Interest paid State of Pennsylvania
on
acc’t
of
Dec.
absence of Mr. Thos. A. Scott in Europe.
225,713
237,002
purchase of main line.
11,289
He remarks that: “ In
accordance with'a resolution adopted by a stock vote of the Interest on car trusts, including
those of the Green Line and Emshareholders on the 26th day of March last, your board have
Inc.
*169,692
4425,159
255,467
created a trust, having for its object the purchase from time to Interest mortgages & ground rents.
Inc.
379
71,104
*70,724
time of the bonds and shares of other companies which are guar¬ Premium, exchange, commissions,
&c
Dec.
80,099
85,996
65,897
anteed by the Pennsylvania Railroad Company. The details of State tax on value of capital stock..
Dec.
135,867
$175 619
89,751
the trust are fully set forth in the printed copy attached to this
Inc. $336,849
$5,192,439
$4,855,590
report. The appropriation for tbe months of November and
Net
income
Pennsylvania Railroad
December, amounting to $100,009, has been invested in securities
Inc. $136,154
$6,324,464
$5,838,309
yielding a large annual income upon their cost. The account of
* Theee accounts stated as one account in
the managers has been audited by Israel H. Johnson and William
1877, viz.: $252,949.
t The increase in interest car trusts is caused by payments on account of
C. Longstretb, tbe two stockholders selected under the eighth
section of the trust, and their certificate of the correctness of the Empire and Green Line cars and new series l*C” car true!;.
X In 1877 this amount appears as dividend tax.
account hitherto appended filed with the secretary of the comNo. 2—NEW JERSEY DIVISION.
'pany.
From the annual
.
“
In pursuance of the power conferred by
Board at their meeting in November, 1878,
tbe stockholders, the
passed a resolution
rescinding their action in reference to the payment of quarterly
dividends, and providing that hereafter dividends should be
declared semi-annually in May and November, a3 provided in the
charter. It was gratifying to your directors to feel assured that
the financ al condition of the company warranted the resumption
of dividends in November last, and they hope that the present
economies obtaining in the management of your various prop¬
erties, and the determination not to
assume any
further large
or
extended obligations, with the continuance of friendly relations
between the various railroad interests of the country, will furnish
a reasonable assurance that dividends can be maintained.
“
The arrangement referred to in the last annual report as
having been made on the 1st of July, 1877, between the four
trunk lines, for the division of competitive West-bound freight
out of New York, has been continued with beneficial results, not
only to the railroad interests, but has also been productive of
manifest advantage to the general traffic of the country in pre¬
venting the rapid fluctuation of rates which is so injurious to
the true interests of trade. This plan has proven so satisfactory
io its workings that theie is good reason to expect that the differ¬
ences
from time to time
appearing
may
be harmonized and the
arrangement maintained.
“
United New Jersey Railroad & Cmal Company, including
Rai road and Flemington Branch.
EARNINGS.
From general freights
From rabcellaneous freights
From first class passengers...
..
From
carrying U. S. mails
From miscellaneous passengers
From Delaware & Raritan Canal....
Total
1818
1877.
$3,661,or 5
$8,868,582
148,669
Dec.
8,5’3,397
30,215
193,373
132,334
34,278
702,033
8,653,571
30,822
Dec.
Dec.
215,703
Dec.
Inc.
Inc.
Dec.
$8,398,534
$8,960,697
Dec. $562,165
$2,344,452
1,274,362
$2,543,356
1,422,579
Dec.
Dec.
409,109
474.306
Dec.
1,025.781
59,515
1,240,203
214,420
131.146
From emigrant passengers
From express
earnings
116,629
30,145
896,569
Incr’seorDec.
Dec.
$207,5*7
17,522
139,573
606
22.333
15,754
4,132
194,486
EXPENSES.
For
For
For
For
conducting transportation
motive power
maintenance of cars.
maintenance of way
For general expenses
For canal expenses
Total expenses.
Net earnings from operating
Add interest received in cash from
investments
Total net
earnings
$198,903
H8,vl7
65,196
389,720
477 603
Dec.
Dec.
Dec.
$5,502,941
$6,221,701
Dec.
$724/759
$2,895,592
$2,73?,995
lac.
$162,596
296,520
221,525
Inc.
74,994
$3,192,112
$2,954,521
Inc.
$237,591
69,649
10,134
87,886
Deduct Payments.
on
account of dividend,
Net earnings
applicable to pay in-
Payments
The board have since your
Belvilere Delaware
$4,393,523
last meeting created a standing
Dec. $108,397
interest, &c
$4,290,126
committee on supplies and a standing committee on insurance, Payments on account of interest on
equipment used by Bclvidere Del¬
for the purpose of s§curing a more effective management of your
245
aware Railroad Co
33,516
Inc.
38,761
business. The former is charged with the general supervision
Total payments
of the purchase of all material and supplies for the use of the
$4,328,887
$4,437,039
Dec. $108,151
company, and the latter with the management of insurance Net loss in operating United Rail¬
roads and Canal Co/s property... $1,136,175
$1,482,518
Dec. $345,742
against los3 or damage by fire to the property of the company or
of other corporations managed or controlled by it, and also with
No. S—PHILADELPHIA AND ERIE DIVISION.
the management of the insurance fund.
Philadelphia & Brie Railroad.
EARNINGS AND EXPENSES.
This insurance fund is represented in the general account of
If 77.
1878.
Incr’seorDec.
December 31, 1878, at the nominal value of $10,000, and consist¬
Dec. $251:932
$3,172,992
$2,921,060
ed of securities valued at $593,874.
It is proposed through the
Dec.
2,049,627
4,678
2,044,948
insurance department to concentrate in one organization the
supervision and management of the insurance not only upon Net earnings from operating Phila¬
Dec. $247,253
$1,123,365
$876,111
delphia & Erie Railroad
your own line but upon other lines controlled by tbe company, Deduct interest charged for use of
under the belief that in this way greater efficiency and economy
Dec.
47,585
191,601
239,189
equipment, &c
“
be obtained. ”
The following statements
divisions operated directly by
can
show the results on the three
the company east of the cities of
Pittsburg and Erie, viz.:
Pennsylvania Railroad Division; 2d. The United Rail¬
roads of New Jersey Division, including the Delaware & Raritan
Canal; and 3d. The Philadelphia & Erie Railroad Division ; or an
aggregate of 1,716 miles of railroad and 66 miles of canal.
GENERAL INCOME ACCOUNT FOR THE TEAR
ENDING
COMPARISON WITH THE TEAR
DECEMBER
81, 187 \ AND
1877.
Branches—Pittsburg to Philadelphia.
EARNINGS.
1878.
From
From
From
From
From
From
From
miscellaneous freights....
first-class passengers. . .
emigrant passengers
1877.
$14,642,109
194,336
8,17ri,2»6
8.239.415
77,286
carrying U. 8. mails
367,196
143,857
313,118
314,716
miscellaneous passengers
17.163
165,031
69,858
133,593
$20,817,139
$20,317,139
$18,983,456
Adams
Expr<
rents...:
Total earnings
ss
172,049
210,563
.
Incr’eeorDcc.
Inc .$1,262 392
Inc.
117,050
Dec.
63,119
Inc.
28,191
Dec.
4»,55>
Inc.
52,481
Dec.
2,198
Dec.
as
•••
••••
paid Philadelphia
rental
$684,507
$884,175
Dec.
$199,668
684,507
834,175
Dec.
199,668
SUMMARY FOR 1878.
Net income Pennsylvania Railroad
Net loss New Jersey Division
18 559
Inc.fl,£83,683
$6,824,464
1,186,775
Division.
Balance after deducting loss in operating New Jersey Division..... $5,187,689
From this balance of income for the year ($5,187,689) the following amounts
have been deducted:
Northern Central Rai’way Ob.—One-half loss in
mira, Chemung and Canandaigua Divisions
with Northern Central Railway co.)
No. 1—PENNSYLVANIA RAILROAD DIVISION.
$15,904,501
•••
Deduct amount
& Erie Co.
1st. The
Main Line and
terest
operating its El¬
(divided equally
$147,873
Pennsylvania Canal Co.—Deficiency in meeting interest
guaranteed by Pennsylvania Railroad Co
'w$50,2S4
Less 502 shares Susquehanna Coal Co (par $1G0) received
in settlement thereof, valued at $40.....,
20,080— 80,154
Shamokin Coal Co.—Amount advanced to pay its coupons..
7,545
Baltimore A Potomac Railroad Cb.—Deficiency in meeting
interest guaranteed by the Pennsylvania Railroad Co...
182,289
Less amount provided by Baltimore & Potomac RR. Co..
28,122— 154,138
American Steamship Cto.—.Deficiency in meeting interest
guaranteed by the Pcniisyltania Railroad Co
Other advances made to the American Steamship Co
Allegheny Valley Railroad Co.—Deficiency in meetine in¬
terest guuxan eed by the Pennsylvania Railroad Co....
17,809
87,650—
55,000
240,250
250
THE CHRONICLE.
Philadelphia & Ei'ie Railroad Co— Deficiency in
meeting
interest on
TONNAGE
«
guaranteed bonds
Less interest on bonds owned
by
HR. Co
--And unadjusted coupon account
«
*
Pennsylvania
'
AND
TONN\GE
MILEAGE OVER LINES. EAST
Rapids <& Indiana Railroad Co.—Deficiency in meeting its fixed, liabilities
$269,520
Less amount provided by that
company
14,270
.
$866,626
r—
Ton’ge movem’t.—,
1678.
Main line and branches
10,946.752
Urited Railroads of N. J..
3,640,229
Philadelphia & Erie RR.... 2,810.466
Delaware & Raritan Canal.. 1,514,530
*
land-grant, and believed to be a good asset, as hereinafter
stated, and are, therefore, not charged to income account.)
The Lines West of Pittslurg have
provided for all their fixed liabili¬
ties during the past
year, as shown by their accounts hereto
ap¬
pended, and therefore there is no charge to be made
against the
inrome of the company on their account.
Showing balance to credit of income account, after
deducting
therefrom all pajments made
during ls78, for which your com¬
pany was responsible, and that should be
charged against income account
'Out of which
was
Leaving amount
count
fer 1878
paid
a dividend of 2 per
to be transferred to
Add amount to credit of
profit and
cent
.
1818.
9,738.295
3,962,523
2,681,450
2,023,413
1817.
1,732,003,131
255,027.095
881,309,202
63,477,228
1,494,798,198
Totals..
credit of profit and loss
18,<05,711
2,431,807,656
2,180,459,388
ton of
$2,943,659
2,347,382
$5,291,041
302,3:6—1,310,923
$4,057,815
construction,
equipment
and
real
estate
•the year were $546,171,
during
against which there were credits for
material, &c.,
disposed of to the amount of $206,095,
a
leaving
balance
of
$310,076.
The amount required for construction
purposes in 1879 will be
greater than
in 1878, as it is
proposed to increase the terminal facilities at
Jersey City by
altering and extending the present piers and
construcfng a new pier and
.^rain elevator on the Harsimus Cove
property. It is also proposed to con¬
struct a p er and dock, with the
necessary side tracks, on the old
Navy Yard
property at Philadelphia.
The dent due the State of
Pennsylvania on account of the purchase of the
•Alain Line was reduced in 1878
by the payment of $224,256, which was
to capital account.
charged
The remainder of the
$160,000 -annual payment to the
Sta’e. being $225,'13, and
representing interest, was charged, as before stated,
directly to Income account for the year.
At ihe close of 1877, the bills
payable of the company amounted to $1,500,000, and of the Pennsylvania
Company to $2,633,699, an aggregate of $4,433,699.
The floating debt of the latter
company, as hereinafter stated, has been
entirely paid eft’, and that of the Pennsylvania Railroad
Company reduced to
$9‘0,0bl—making a total reduction during the year of $3,483,699.
Iupuisuaute of the provisions of the consolidated
mortgage of the Com¬
pany, the turn of one hundred thousand dollars
was set apart and
ted on the 1st
appropria¬
day of July last, out of the net income, to the
purchase of
outstanding bonds secured
by that mortgage.
past year, the United New Jersey Railroad & Canal
company $841,010 of six per cent bonds to provide Company
for $450,000 of the bonds of the New
Jersey Railroad & Transportation Company
maturing August 1, 1678, and to reimburse your
company for the payment of
$ i9i,0C0 of the bonds of the Camdeu &
Railroad and Transportation
Company that bad matured. The bondsAmboy
for $841,000 were sold, and the
mium teceived thereon credited to
pre¬
the income from securities
owned by the
‘United New Jersey Railroad & Canal
Company
fur
the
1878.
year
The Huccunt of bonds at their
par value in ihe sinking fund for the
tion of the classes of bonds
redemp¬
issued
Ui i ed New Jersey Railroad & Canal by the several companies forming the
Company is $1,183,600. This investmei t is an ass« t of
jour company, and will, in the
future, be represented by
an if sue of bond- under the
general mortgage of that company, in accordance
with the term-» f ihj lease.
Under ihe several car trusts, referred to in
the last report,
connected wi.h the purchase of the
including those
Empire Line, there have been placed upon
your lines ea-t of Pittsburg, 3,500
eight-wheeled coal cars, 3,406 box and other
freight c».rs, and 1,308 oil tank cars, and
upon the Pittsburg Cincinnati & St.
Louis Railway, 1,000 box cars—in all
The cars for your lines east of
Tin se west of
Pittsburg
Pittsburg
cars.
represent
a cost of
$4,499,000 CO
535,000 CO
Total
account of which
$5,034,000 CO
there had been paid up to Dec.
31st, 1878... 1,173,COO
00^
Balance certificates
outstanding Dec. 31, 1878
$3,861,000 00
The certificates thus cancelled
under these several car
trusts, to wit, $!,an addition to
your equipment without
any increase of
173,000, represent
-capital account;
The views expressed in the last
annual
'of punchasiug the
report in reference to the
property of the Empire Line would seem to expediency
have been
to the company
during the year. The most
profitable portion of the business oone under that
organization is merged in
the general
accounts, and therefore does not
appear as a separate item in your
inccme ac.ouni
fully justified by the results
COMPARISONS WITH 1877.
Earnings and expenses on all lines east of the cities of
Pittsburg and Erie.
Gross
Rental and int.
.
earnings.
$31,636,734
18*6
13 7
31.117,146
/increase
Decrease
*'
Expenses.
$18,463,993
on
$1,684,190
1,901,261
19,628,467
559.473
-
,
,
equipment.
$519,568
*
Main line and branches.
United Railroads of New
220,070
Net
$11,483,550
10,184,417
$1,299,132
_
Philadelphia,*
TRAFFIC STATISTICS.
The
1
fallowing table shows
same, over your
the preset
ing
lines east of
year;
the movement of
..
.0
...
0
tonnage, and the mileage of the
Pittsburg and Erie for 1678, as compared with
288
Cents.
1,716
Cents.
0 623-1 000
Cents.
0 939-1,000
1 052-1,000
0 415-1 000
0 384 1,000
0
0 545-1,000
0 394-1,000
1 436-1,000
483-1,000
435-1,003
r-Total passengers.—,
1878.
1877.
5,205,737
Jersey. 7,12 ,224
459,344
Total.
12,792,305
183-1,000
5.139,931
Tot pass, mileage.-^
18<8.
1677
142,006,103
7,334.725
139 24',414
4s3,176
11,441,005
143,153,521
113,132,968
12,4t6,24l
13,007,832
292,725,524
293,752,730
-
The average distance travelled
by each pa=senger in 1877 over the main line
and branches was 27 9-10
miles, and in 1878 was 27 3-10 miles,
decrease of 6-10 of a mile.
showing a
The receipts and e> penses
per passenger per mile were as follows; On
Penn.
RR.. earnings 2 357-1,000
cents, cost 1 791-1,000 cents; profit 0
564-1,000 cents.
On United Railroads of New
Jersey,
cents.
Net profit 0 680 1,000 cents. earniugs 2 2J1-1,0C0 cents, cost 1 521-1,000
Of the 10,946,752 tors of
freight moved
through and 9,208,209 local; the volume of upon the main line, 1,733.543 were
east-bound tonnage was more than
double that of west-bound; there was
also a marked
freight.
Ah hough the bituminous coal traffic shows improvement in local
a small reduction as
compared with 1877, yet iu east-bound coke there was
an increase of
60,064
ton?, and in oil shipments an increase of 865,687 barrel*.
CANAL AND COAL COMPANIES.
The following statements w.ll show
the operations of the
Canal Company, and also of the Coal
Pennsylvania
Companies in which you are interested,
as compared with 1877 :
Pennsylvania Canal Company.
Interest
Gross
1878
earnings.
Expenses.
mortg-ge
bonds.
299,915
$154,288
153,120
$185,400
1877.-..
Increase
Decrease
Net loss.
$50,234
33,605
185,406
$1,167
10,461
$11,629
.....
The aggregate tonnage for the
year was 663,707 tons, being a
decrease, as
compared wiih 1877, of 103,483 tons. The anthracite
coal tonnage fell off 32,083 tons, but yielded an increased
reveuue of $28,512.
The
lumber tonnage
fell off 86,725 tons, and the revenue
therefrom decreased $10,274.
Susquehanna Coal Company.
Receipts from sales of coal, &c
Expenses, mining, selling and shipping coal,
including taxes
Net earnings, 1878
Balance on all charges to credit of income in
1878
Balance on all charges to debit of income for
1877
Being
a
$1,312,528
1,0C6,962
$245,566
$28,515
121,484
comparative gain of
*
Summit Branch Railroad
Receipts from sale of coal and rents
Receipts from freights,
$150,000
Company.
$926,903
passenger traffic and malls
131,516
$1,058,479
Net earnings, 1878
From which deduct interest-on funded
debt, &c.
$137,554
90,105
Net profit for the year
Net profit for 1877
$47,449
27,267
Increased profit for 1878
.’
$20,181
Lykens Val’ey Coal Company.
Gross
eamiDgs
Expenses, including taxes
$392,841
415,414
.
Less increased value of stocked coal.
$22,573
Debit to profit and loss for the
year
Balance to debit of income for 1877
$22,386
Being
a
187
174,828
comparative gain of
$152,442
The share capital and funded
debt of this company
are owned almost
exclusively by the Summit Branch Railroad
Company, and its earnings and
expenses may, therefore, be considered as
belonging to the workings of that
corporation.
eamiDgs.
The actual cost of operating the main line in
1878, excluding branches, was
52 91-10U tier c* nt of its
receipts, and including branch lines 53 75-100
In 18' 7. ihe cot of •
cent.
perating yomr main line, excluding branches, wasper
55 47-100
per cent, and including branches 56 63 - 00 Der
cent.
The actual cost of operating the United Railroads of
New Jersey, including
’branches, and the Delaware and Raritan Canal, iu
1878, was 65 5-10 per cent of
the receipts from
transportation ; in 1877 it was 69 5-10
per cent.
The actual cost of
operating the United Railroads of New
Jersey, including
branches and excluding the canal, in
187**,
was 66 4-10 per cent ol the
-'•from tran-porfaiion ; in
receipts
1677, it was 71 3-10 per cent.
The actual c st of operating the Delaware
aud Raritan Canal was 55
5-10 per
•cent of its receipts; in
1877, it was .*3 3-10 per cent.
'I he rctual cost of
opeiating the
Erie Railroad in !878, was
"70 per cent of Its
receipts; m 1877, it was 64 6-10 per cent.
,
one mile
to your
9,214
313
Cents.
PASSENGERS ON ALL LINES EAST OF
PITTSBURG AND ERI \
77,696
Balance to credit of profit and
loss, Dec. 31, 1878
The amounts expended for
♦
freight
Philadelphia & Erie
Board have considered it advisable that $5,365,733
following amounts should be deducted :
Reduction in Value of securities
$645,675
Sundry accounts charged off as of no value
Sundry securities transferred to suspense account as of 362,861
doubtful value.
X)n
tor per mile
The statements given below embrace
the passenger statistics for the
year;
$4,321,063
your
During the
per
Av. profit per ton per mile
the
'delivered
earnings
from transports of
freight. 0 918-1,000
Av. cost of transport’g each
Balance
"Prom which balance
1,055
Av.
ac¬
..
Add amount realized from old accounts.
19,121,917
256,134,099
335,727,411
93,800,4
The following table shows
revenue and cost per ton
per mi e on each
division operated by the
company : ‘ '
Penn. RR. United RR. Philadel’a
All line?
and
of JN. J. aud
•&Erie east of Pitts.
biarches.
branches
Railroad.
and E.ie.
Length of road
1,377,404
loss, Dec. 31, 1877
PITTS¬
-Tonnage mileage.-
1877.
.
Amount advanced by Pennsylvania Railroad Co.
to pur¬
chase land-grant guaranteed
coupons
$285,250
*<For the amount thus advanced, the Pennsylvania
Railroad Co.
holds these first morigage
coupons, which are secured by the
?
OF
BURG AND ERIE.
Grand
»
MOVEMENT
,
$220,800
612—221,412— 231,€54
c
''
5453,065
[Vol. XXVUI.
Net
Less
Mineral Railroad <fc Mining
earnings
amount
paid for royalty
Company
$109,314
on coal
47,614
Net profit for the year.
Net profit for 1377
$6*1,699
,
Increased profit for 1878
$14,299
LINES WEST OF PITT8BURG.
The following statement
gives the result of the lines owned
by the company west of Pittsburg, and operated
the
pany :
'
The total earnings
by
„
of the Pennsylvania Co. on lines
operated by it, and through organiz&tijns
worked
under its
control,
Expenses for
same
were
peKod
were
Leavicu net earning*
From this deduct rentals, interest,
dividends and lia¬
bilities of all kinds chargeable
net
thereto, in< lading the
earnings of the Columbus Chicago *
Indiana
Central Railway, paid
order of
Cou'-t; also
47,399
...
over
interest
to the receiver under
on
floating debt and
or
controlled
Com¬
Pennsylvania
1678.
1877.
$23,790,223 $23,012,574
15,184,8 5
15,044,982
$8,605,423
$7,997,591
March 8,
1879.]
THE
CHRONICLE.
other liabilities of the
cept interest
on
stated)
Net profit
Pennsylvania Company (ex¬
$7,COO,OCO bonds, as hereinafter
dr.
$7,62’,234
on
above lines west of
$7,925,673
..
are the St.
Louis Vandalia & Terre Haute
Railroad, Indian
apolis & St. Louis Railroad, St. Louis Alton & Terre
Haute
Rap id 8 & Indiana Railroad, Cincinnati Richmond & Fort Railroad, Grand
Wayne Railroad
and Cleveland Mount Vernon & Delaware
Railioad.
The aggregate gross
Expenses
Net
earnings of these roads
1878.
were
3,437,405
Loss
$998,613
Of this loss, your
company, under existing con¬
tracts. is drectly or indirectly
responsible for. $540,208
Less deficit of Grand
Rapids & Indiana Railroad,
in the opeiation of its main
line, which is rep¬
resented by land-grant
coupons
272,539 — $267,668
Which deducted from the
profit before stated
984,188
Showing
3,131,(30
$911,243 $1,212,284
1,909,857
1,921,382
Deduct rental and interest
a
1877.
$4,318,618 $4,313,314
earnings
Leaves
net profit on all lines west of
a gam for 1878 of
Pittsburg
*$716,520
$S30,643
$712^098
+$114,128
the company would be best
isation on a financial basis that would promoted by maintaining that organ¬
enable it to discharge the functions for
which it was organized,
fcuthorized the $7,009,000 of 6 per cent bonds of the
Pennsylvania Company, owned by the
cancelled by satisfying the mortgage Pennsylvania Railroad Company, to be
securing the same, and substituting
therefor seventy judgment bonds of
$100,003 each. In order to afford to the
Pennsylvania Company a larger working capital, and to enable it to
make the
necessary betterments upon its properties and leased
lines without
incurring
floating debt, the interest on the seven millions of bonds referred
to for the
year 1878 was not demanded of that
company.
In the last annual
report it was stated that the bills payable of the Penn¬
sylvania Company amounted to $2,933,700.
During the year just closed this
debt has been paid off, and the
Pennsylvania Company has now no floating
debt. To secure this
result,
the Pennsylvania Railroad Company purchased
from the Pennsylvania
Company, at their par vaiue, $1,700,000 of its h
Cent bonds, secured
per
by the pledge of the special guaranteed stock of the Pitts¬
burg Fort Wayne & Chicago Railway Company and
exchanged
$1,112,000
of
the6 per cent bonds of the Northern
Central Railway Company for the fol¬
lowing securities:
10,891 shares Columbus & Xenia Railroad
Company’s stock.
564‘shares Little Miami Railroad
Company’s stock.
2,474 shares Pittsburg Fort Wayne
& Chicago Railway Company’s special
guaranteed stock.
150 bonds, $1,000
each, American Bottom Lime and Marble
Company.
80 bonds, $1,000 each, Cleveland
& Piitsburg Railroad
Company.
With the proceeds of the above
securities, amounting to $2,700,030, and
with $233,700 of its other
to retire the whole of its resources, the Pennsylvania Company was enabled
floating debt as above stated. The Pennsylvania
Railroad Company thus became the owners of the
er tire issue of
$V20i>,0C0 of
the 6 per cent bonds of the
Pennsylvania
secured by the
$4 000,000 of the special guaranteed stockCompany,
of the Pittsburg Fort pledge of
Wayne &
Chicago Railway Company.
The amount expended for betterment
purposes during the year on all the
above lines wa»
$810,754; the principal item < f which was the
cost of 1,500
new freight cars built for the
Pitt-burg Fort Wayne & Chicago Railway at a
cost of $ 60,000; the
remaining items were for new sidings, station houses, ant
other improvements on your leased lines
The
Pennsylvania Compa< y received on account thereof, and of expendi¬
tures formerly made,
$932,242, leaving a balance still due that company of
$186,139.
yeir the
und rents payable..„
Accounts payable, viz.:
To passenger and
freight balances due other roads.
To pay rods and vouchers for
December, 1818, due in
...
January, 1879.
..
4,337,827
1,294,27*—60,746,863
$527,693
2,294,704
To bills payable
To cash dividend due to
950,C00
stockholders, unpaid
5 110,571
To dividend scrip of
December,- 1873, outstanding
2.128
To sundry accounts due other roads
!,c93,7.40— 5,778,544
To appraised value of securities
formerly owned by the United
New Jersey Railroad and Canal
Company
To equipment of road and canal owned
3,895,584
by the United New Jercey
Railroad and Canal Company
........
3,789.754
To balance to credit of profit and loss
policy of improving and
advancing the efficiency
Western lines whs continued, the
good effect of which is directly
directlj
reflected in the net
obtained upon the low rates now
All of the main lineearnings
prevailing
of the Pituburg Ciic nnati & St.
Louis
is
now laid with
steel, and there remains bnt 61 miles cf iron inRailway
the main
track of the
Pittsburg
Fort
Wayne
&
Chicago
Railway, and 17 miles of
iron in the main iin • of the Cleveland &
Pittsburg R ilroad.
Grand Rapids dk Indiana Railroad.—Under
the arrangement
explained ia
the last annual
report, the coiupauy advanced in 1878 to the Grand
A Indiana Railroad
Rapids
Company $285,250, being the amount necessary to pur¬
chase the coupons
foiling due in that year on its first mortgage bonds.
Through Ihe operation of tin Land Department $341,000 of >hese
bonds were
cancelled in 187a aLd conve.t d into income bonds.
This, together with pre¬
vious purchases, reduces the
amount of the first
outstandii g t» $7,205,000. The amour.t of land notes andmortgage bonds now
other assets on hand
at the close of the
year applicable, as the same are converted into
cash, to the
purchase of the-e securities, was
$618,016.
The reciipts from land sales for the
past three years have been as f
'
4.057,815
$117,139^032
By balance standing
theb'oksof the company for
on
the construction of the railroad between
and Pittsburg, <fec....
71,917
Loss.]
The
ment8 of $460,000
To mortgages and gr
OR.
$186,046
Pennsylvania Railroad Company, being the owner of the entire
share
capital of the Pennsylvania Company, and
your Board considering that the
interests of
During the past
$68,873,200
...
...
[* The difference between this amount and the
balance to the credit of
and loss, shown
by the income accounts of the Pennsylvania Companyprofit
and
the Pittsburg Cincinnati
& St. Louis Railway
Company, is due to the fact
that the actual advanoes made
during
the
year
were $77,805 greater than the
deficits shown by the operations of the
roads.
+
of your
GENERAL ACCOUNT.
To capital stock
To first mortgage bonds due 1830
$4,970,000
To general mortgage bonds due 1910.
19 99 ‘,760
To consolidated mortgage bonds due 1905
29,145,0 0
To Navy Yard
mortgage registered bonds due 1831..
1,000,000
To lieu of the State
upon the public works between
Philadelphia and Pittsburg, payable in annual icstall...
Pittsburg
*$384,188
$71,917
[* For comparison with 1877, deduct from this sum
$513,691, amount paid for
interest for that year on $7,000,0t0
Pennsylvania Company bonds.l
The other lines west of
Pittsburg, in connection with which the company
has assumed
liabilities, but which are worked through their own individual
organizations,
251
Harrisburg
$24,563,690
By balance standing on the books of the
compiny for
the purchase of
Philadelphia & Columbia Railroad... 5,375,7c3
By balance to debit of equijment of road,
including
shop machinery, and also including equipment
of
canal, consisting of schooners, barges and
.' 17,513,296
By cost of real estate of the company andtugs
telegraph
line
;
By extension of the Pennsylvania Railroad to the Dela¬ 9,264,866
ware River,
including wharves and grain elevator— 2,070,093
Total amount charged to construction,
equipment and real estate
accounts for the railroads between
&c....
Philadelphia and rittsburg,
$58,781,686
OTHER ASSETS.
By cost of bonds of railroa1 corporations
$30,467,892
By cost of capital stocks of railroad corporations
By cost of bonds and stocks of municipal corporations, 2?,093,S89
coal ccrsqpanies, canal
companies and bridge com¬
panies, anti investments not otherwise enumerated... 9,103,723
Total cost of bonds and stocks
belonging to the cornpuny
By managers of trust created by Pennsylvania Railroad
company
October 9, 1876
By insurance fund
06,670,510
By mortgages and ground rents, receivable
By amount expended for the purchase of anthracite coal
lands,
Hazleton,
133,905
Hamilton, East wick aud other tracts
By appraised value of securities formerly owned by the United
New Jersey Railroad »nd Canal
Company
By equipment of road and canal formerly ownei by the United
New Jersey Railroad and Canal
Company
By amount of fuel and material on hana for repairs to locomotives,
cars
and maintenance of way, viz.:
For the Pennsylvania Railroad
For the United New Jersey Railroad and Canal....
For the Philadelphia & Erie Railroad.
By am nit of bills and accounts receivable and amounts
due from other roads, including advances made to
100 000
10,000
792,096
3,895,584
3,789,754
$998,447
497,513
194,072— 1,690,038
railroad corporations for construction and purchase
of
equipment used ou their lines, viz.:
Philadelphia & Erie Railroad Company
United New Jersey Railroad & Canal Company con¬
$317,454
struction
218,445
United New Jersey Railroad sinking fund andredempt'on account
United New Jersey Railroad real estate
786,890
393.382
Other companies
5.542,824— 7,258,996
By cash talance in hands of Joint-Stock Bank, London, and other
parties, to pay coupons due in January, 1879
1,186,955
By cash balance in hands of freignt and passenger
ageuts
:
$1,5*5,766
j By cash balance in hands of Treasurer
1,857,771— 2,823,583
$147,139^062
Philadelphia & Erie Railroad.
(For the
ending December 31, 1878.)
the Pennyslvania Railroad, and the
by the lessee. The indebtedness to the lessee
year
This road is leased to
returns are made
is now $1,211,673.
.
Mr. Robt. Thomson, the president, remarks in his
report: "The
statement of the operations of the road
during the past year
(submitted by the lessee) shows that there has been $272,440
expended for
material, which has been charged to the main¬
Included in this expenditure
}£?:
$274,097 is fifty-one miles of steel rails, making, with amount noted in last
279,7 3 report, 240 60-100 miles of steel rails now
h>78..
upon the roadway.
510.254 The
operations of the past year show an increased tonnage, a
The average price received from above sales
during 1878, was $12 70 per decrease in expenses, and decreased
acre, and the average on all lands so d was
earnings. This anomalous
$12 46. The number of acres
on hand December
showing is owiDg to the sharp competition which has prevailed
31, 18:8, was $612,055.
during the major portion of the past year on east-bound traffic to
SUMMARY OF LINE3 DIRECTLY OPERATED EAST AND
WEST OF
the seaboard.
It will be noticed that the receipts per ton
per
PITTSBURG.
mile have fallen from 2 61 100 cents, in 1866, to 0 6,283-10,000 of
1878.
1877.
a cent, in 1878; so that it is
Gross earnings, all lines, from traffic
only by the closest economy, and the
$55,426,962
$54,159,720 most careful
Gross expenses, excluding
rentals, interest, divi¬
management, that your road has earned the net
dends, &c
$33,611,034
$34,022,329 results now reported to its shareholders. The average rate per
ton per mile is the lowest in the history of the road.
Showing net earnings
$21,815,923
$20,137,5991 Tim detailed operations of the road are as follows:
Freight Traffic.
>!lows:
No. of
A'l lines east of
Pitts’g and Erie
All lines west of
Pittsburg....,
Total
-1378.No. of tons
tons.
one
1877.
No. of tons
one mile.
,
No. of
mile.
tons.
19,121,977 2,431 807,656 18,405,711 2,18i\459.888
16.871,837 1,814,100,152 1 ,b70,384 1,459,“62,931
,
,
,
.
IJineseastof Pitts’g
AH
lines
west of
Total
Express
Mails
Miscellaneous
Htteburg
8,041,674 247 275,168
2^833.979
...
GROSS
EXPENSES.
$2,395,890 Conducting transportation.
346,687 Motive power
86,564
•
27.199
Maintenance of cars
Maintenance of road
7,753,123 244,344,440
540,000,690 20,769,955 543,097470
$838,910
598,884
262,018
545,140
114,717
$2^44048
$2,921,060
Net earnings.
1878.
18*7
No. of pasNo. ofpasNo. of pas- sengers
No.of pas- sengers
sengers.
one mile,
sengers.
one mile.
and Erie.. 12,792,305 292 725 524 13.007,832 293,752,730
,
A
GROSS EARNINGS.
Freight
Passengers
35,993,814 4,215,907,8 8 33,276,095 3,640,222,319
Passenger Traffic.
new
tenance of way or expense account.
$376,111
INCOME ACCOUNT FOB YEAR.
Net earning*
Add receipts from rents.
Total revenue
Deduct—
Amount paid for maintenance of organization
Amount paid for interest on
lessee under contract of lease,
$876,111
"
2,195—
$8,000
equipment furnished by
January 1, 1870
191,604
$878,30$
252
THE CHRONICLE.
Amount
paid drawback to Allegheny Valley Railroad
Company, under traffic contract
$83,204
Amount paid for advertising
' 9t—•
increase in
mileage of 2,258,131 miles; bat the revenue from ikebeing affected adversely by the
liberahpolicy pursued by the Company toward settlers, encour¬
aging tbe occupation and improvement of the country adjaceuito*
$646,406
.1,099,472 .theroad.andin,earing in the future a large increase in earoiagtL
The increase in freight earnings in 1878 over 1877 was
$505,141.
This increase was large}/5 derived from tbe local buaiaees «if
;
$453,066 the
company, including the live-stock business. The preaealt.
length of roadjaid wHb steel rails is 283 miles. The company
8781
Balance, net
revenue applicable for the payment of interef t on
bonded debt and<other obligations of this company...,.......
Deduct Interest, Premium and exchange
Balance, being the deficiency after charging all expenses,
interest on obligations, except interest otfthe preferred stock.
Doings in transportation
were as
follows:
The number of tons of fre'ght moved, excluding company’s
The number of tons of freight moved in 1877
|58’,900
freight.. 3,610,466
2,661,450
Increase of tonnage in 1878.
129,016
The actual cost of working the road in 1878 was 70 per cent
of the receipts; cost of working the road in 1877, 64 59-100
per cent;
increase, 1878, 5 41 100
per cent.
Passengers carried one mile in 1878
Passengers carried one miie in 1S77
Decrease, 1878
'reight moved
Tons of freight moved
Tons of
11.444,075
12.466,*41
1,022,226
one
one
mile in 1878
mile in 1877...
381,300,*02
635,727,141
Increase, 1878
45,573.061
Buffalo New York &
(For the
year
Other
has the following
I
of way
$176 559
4^,145
18S,721
704,156 I Rolling stock
18,410 | Transportation.
sources
7,9281
I
Total
$364,868
Net earnings
|
:
EXPENSES.
$134,313 I Maintenance
Mail and express
Las contracted1^)r fifteen thousand tons of steel
rails, to be oral*
the present year, the policy
being to substitute steel for iron asV
fast as the track needs renewal.
The motive power of the
company has been increased duringthe year by the purchase of ten new engines, and decreased
by
tbe sale of six to connecting roads.
The following changes bave
been made in the rolling Btock of the
Total...
cars
immediate and constant use.
The production and cost of coal mined
compare as follows:
during 1877 and 18IBAnasa
Tons.
27%480
275,'.95
Increase.
Decrease
coat per
Cost of mining.
$3 2. 31
'
ton.
$1
287,216
3J5
1 043£'
$
2l,9i4
The earnings
and expenses of the Omaha Bridge have not been
kept separate since the 1st of July, and the bridge since that time
$114,419 bas been treated in the accounts of tbe company as a part of tbe
road. The income of the bridge for the past
year is all included
$450,449 in the general statement of the
earnings and expenses of the reed.
The sales of land for 1877 and 1878
$807,500, these bonds
compare as follows:
The 10 per cent bondsyet
outstanding are
being exchanged by holders for new 7 per cents.
Avenge
c.
Union Pacific Railroad.
-
(For the year ending Dec. 31, 1878.)
The annual meeting of the stockholders of the Union Pacific
Railroad Company was held in Boston March 5.
The meeting
elected fifteen directors, as follows:
Sidney DHIod, New York;
F. Gordon Dexter, Boston ; Elisha Atkios, Boston ; Russell
Sage,
New York ; Solon Humphreys, New York ;
Jay Gould, New
York; John Sharp, Salt Lake City; S. H. H. Clark, Omaha.,
Neb ; David Dows, New York; James R. Keene, New York
; W.
L. Scott, Erie, Penn.; E. H Baker, Boston; Frederick L.
Ames,
Boston ; Addison Cammack, New York ; W. A. H.
Loved, Golden,
Col. The largest stockholder in the company is
Jay Gould, who
voted in his own right upon 123,700 shares, and on 20,000 shares
by proxy. Sidney Dillon holds 27,700 shares, Russell Sage 21,650,
and Oliver Ames 37,000.
If the actual earning capacity of this
company be estimated on
the same rational basis as that of any other,
counting in all its
legitimate receipts and charging full annual interest on all its
bonds, including the government subsidy, we have the following
results: Net receipts from earnings and fecurities, $7,931,672;
net land sales (not cash
receipts) over expenses, say, $1,200,000 ;
total net income, $9,131,672; disbursements for interest and
sinking funds. $3,671,586; interest for one year on government
subsidy lien, $1,633,960 ; total charges for the year, $5,305,546 ;
balance of net income applicable to dividends,
retiring bonds,
&c., $3,826,126. The company actually retired in 1878 $638,000
of its bonds.
F/om the brief annual
report submitted
at
meeting, the information below is condensed. Tbe number
mileB of railroad in operatibn during the year was 1,042 2-5.
Gross
earnings (including Omaha Bridge)
operating expenses (including taxes)
tbe
of
$13 12’,272
5,376,586
Deduct
Acres.
Amount.
69,015
1877...,
1873
318,903
*343,*63
1,5 7,032
Increase
219,887
$1,213,3.4
Decrease.....
prkeptz
acre.
$4*8
4 86#
i
..i...
The decision of Secretary Schuiz in favor of
Dudymont, who
claimed the right to pre-empt the railroad lands, and
pay for
them at government price of $1 25 per acre, had the effect to
diminish tbe sales for tbe last half of the year, and to
complicate
and annoy very much the workings
This question is now before the
States, and will be argued in March.
The total sales of land to
98-100
of our land department.
Supreme Court of the United’
December 31,
1878,
were
1,539,296'
acres.
Average price of same |.4 41 3-10, amounting
Sales of town lots
Interest received on contracts, &c
to
$6,793 13f»
...
Payments forfeited
on
^
'
cancelled contracts
lit ,£5&
Total proceeds
Total expenses
Net
proceeds
505,7*3.
*23,288 <
$Sj&22;52&
1,796,232 :
-
$0,226,283.
*.
LAND GRANT FUND.
Who’e Issue of land grant bonds...
Cancelled to December 31,1878
Outstanding December 31, 1878
Land contracts and cash
Town lot contracts, &c
Amount
on
hand
$lG,40a#»
3,516,tt0£><
$6»8S46)&
.
$1,2^3,38)
applicable to payment of bonds....
Leaving amount of bonds to be provided for by future sales
•
118,5i5
4,401 JPtS.
$2,482J£C
The Omaha &
Republican Valley Railroad was extended dur¬
year from David City to tbe west line of Butler
ing
tbe
past
Add interest collected on investment securities
186,9S5 County, a distance of 13 7-10 miles, making tbe
length of thin
road, from Valley Station on the Union Pacific road to its wee*,
Making total net income
$7,931,672 ern
The operating expenses were 40 98 per cent of the
terminus, 74 2-10 miles. It is proposed to still further extends
earnings. it into Polk Coifhty to Osceola, the
The disbursements for interest on bonds,
county seat, ten miles; and
dividends, and bonds county bonds have beeu voted
that
by
county to aid in buildup
purchased for sinking funds were as follows :
it.
The road already earns more than the interest on iiBbon&St
Interest on bonds
Surplus earnings
$7,741,686
$3,466,443
1,837,250
20>,:43
Dividends, 5 per cent
Sinking funds
Government earnings retained on account of
Total deductions from
Surplus for future
eubsidy bonds
1,115,054
earnings
$6,623,890
use
$’,307,781
The funded debt pf the company was reduced
as follows: Land
grant bonds, $440,000;
during the year
sinking fund bonds,
debt.
The Utah & Northern Railroad was extended last
year
hundred-miles north from Franklin, making its total
length 189miles from Ogden to its northern terminus. The road la bow
the property of this company. Its business was
very encourag¬
ing last year, though tbe road was not opened early enough to.
obtain the full benefit of the spring business.
Arrangements
have already been made to extend it one hundred miles this sea¬
$140,000 ; Omaha Bridge bonds, $58,000; total decrease, $638,000. son, which will insure a largely increased business, and give the*
The earnings and expenses for the years 1877 and
the greater part of the Montana trade.
1878, includ¬ Company
The questions between the
Company and the government are
ing Omaha Bridge, were as follows:
fast being determined.
suit of tbe government m the
The
1877.
1878.
Gross earnings
Jompauy and the stockholders of tbe Credit Mobiiier has bee ns
$12,94^,477
$13,121,272
Operating expenses
5,55^,092
5,376,5S6 decided against the government, and ends a long and unpleasant
controversy. The Buit of the government is. the Coiupaay,
Surplus earnings
$7,396,334
$7,741,636 commonly known as tbe five
Percentage of expenses to earnings.
per cent case, has come to a
4i 88
40-98
Gross earnings, increase....
This decision is that the road was
172,795 determination.
completed no
Operating expenses, decrease
175,50i the 5th of November, 1869, and that the five per cent most com¬
mence from that date, and that net
Surplus earnings, increase
earnings shall be the amount
$348,202
left after paying all ordinary operating expenses and
taxes, and a
There was a decrease in passenger
earnings in 1878 from 1877 construction expense, if the same is paid out oi the
earnings of
of $481,803.
This was in the through business of the edmpany, tbe road, but iu case tbe net
earnings should not be enough teand was caused by the depressed condition of business in
Califor¬ pay tbe interest on tbe first mortgage bonds and tbe five
per¬
nia and the decrease of pleasure and excursion
travel. The cent,, then ties government would
only get that year what is left
increase in local travel has been very
encouraging, showing an after the payment of the first mortgage interest.
-
....
<•
.
.
company; 237 newhox cam
changed from flats, and 10 stock cam,&
ccal cars and 2 fiat cars sold.
The equipment of the road
nppr-’ '
consists cf 172 locomotives, 166
passenger, baggage and sleeping?
cars, 3,326 freight cars.
All of which are in good order and ready
for
added; 155 stock
1877
ending Sept 30*. 1878.)
EARNINGS.
has only increased $12,786,
same
Philadelphia.
The annual statement of this
company
Passengers
Freight
[Vol. xxvm.
March 3,1879. \
THE CHRONICLE.
iUader tUia decision there is estimated to be due the
government
oa the five per cent to December
3\ 1813
$2,373,436
Aad there is: due from the government,
Leaving balance due
iDg in the United States
Mr. John
King. Jr., receiver of the Ohio & Mississippi Rail¬
has filed his report of receipts and disbursements, from
January 1 to January 31, in the United States Circuit Court.
The figures are as fellows:
$771,183
way,
Daring the year Congress enacted a law (commonly known as
the Thurman bill) which
provides for a sinking fund for the
payment of the government debt at maturity.
This law
requires
twenty-five per cent of the net earnings, after deducting interest
-cm the first
mortgage bonds, to be paid annually to the govern¬
ment, aa follows: First. Applied directly to interest
account,
one-half of government
earniDgs. Second. To be placed in the
sinking fund—the other half of the government earnings ; five
per cent of net earnings, after deducting interest on first
mortgage
bonds; so much of $850,000 as may be necessary to make
.twenty-five per cent of net earnings.
The effect of this bill, if applied to the business of the
past
..year, would Lave been as follows :
.
Total surplus earnings
.'liCjfe first mortgage interest
on
investments
numerous
liarmoay and
snoot cases
776
$440,013
Vouchers prior to November 18. 1676
Vouchers subsequent, to November 17, 1876
Payrolls subsequent to November 17, 1876
Cash on hand February 1, 1879.
$23,569
211.457
of stockholders of
board of directors
65^C07
$2,755,551
in
controversy between the govern¬
to work together in
to the better interests of both. Tlie decisions in
have been in favor of the
Company, and it is to be
now
$440,013
City & Northern.—At the annual meeting
this company, held at St. Louis, the
following
was elected :
Messrs. George I. Seney, W. R.
Garrison, J. A. Jamison and Solon Humphreys, of New York; W.
B. Lewis, John Jackson, James F* How, J. S.
Walsh, J. R. Lionberger, Don. Catlin and W. M. Speer, of St. Louis.
2,013.743
were
^Staow for all time what its
fixed charges
119,978
...
St. Louis Kansas
$4,769,295
Company, thus enabling them
congratulated that it may
St. Louis & San Francisco.—The following directors have
been elected for the ensuing year: Messrs. W. F.
Buckley, J.
Seligman, F. Butterfield, C. Littlefield, J. D. Fish, J. B. Post, C.
C. Howard and E. J.
Seligman, of New York; W. H. W. West,
F. B. Hays and George S. Curtis, of Bosion; J. F. Baker
and O.
Bailey, of St. Louis.
stand upon these decisions, and
obligations
are
and the
amount of the
against it.”
GENERAL INVESTMENT
NEWS.
Elmira &
Williamsport,—It is proposed to extend the 7 per
bonds of this railroad
maturing January 1, 1880, for thirfy
years, and reduce the interest to 6 per cent. The Northern Cen-
•cent
•
Express Companies
DISBURSEMENTS.
186,985
decisions of the Supreme Court have settled
questions which
ment and the
'
3,756
26,358
22,i84
'
$4,562,3 >9
Balance applicable to dividends
—being 7 5-10 per cent on ihe capital stock.
r
346.0^9
Total....,
$6,109,716
3/27,436
..
Making the net income
Interest and sinking funds
most
Cash
Cash
Cash from American and Adams
$40,606
1.624.940
Leaving for the co-npany
‘‘The
Cash
Cash
hand January 1
from station agents
from conductors
from individuals, railroad companies, etc
from Post ffice Department
on
Total...
Leaving
Add interest
RECEIPTS.
Caeh
$7,744,686
Deduct twent3'-6ve per cent for account of
government,
no
effect.
3,145,419
the company
Circuit Court, and until that time the
proposition of the re-construction committee would be of
withheld, awaiting the
determination of this question
253
tral
—The thirty-third annual statement of the Connecticut
Mutual
Life Insurance Company appears in the Chronicle
to-day.
This company, which stands first
among Connect;cut s great
insurance corporations, continues to show
steady progress, not*
withstanding the unfavorable times which were so proverbially
bad during the year 1878.
On the first ofJanuarv, 1879, the
company’s assets amounted to $46,225,182, of which $26 383,983
was invested in first
mortgages upon real estate. It will be
observed that the company’s investments have been so
made that in the last year the income from interest judiciously
and rents
amounted to about 7 per cent on the
company’s whole assets as
Railway Company, as lessee of the road, pays the interest,
obligations are guaranteed by the Pennsylvania Railroad
Company, which announces that it will purchase at par such they stood at the first of the
and its
year.
The surplus over re-insurance
$3,404,076. The management of this
company has been recognized for years as having a strong char¬
acter both in ability and
integrity; and this, we believe, will
Metropolitan Elevated.—The trial of the suit of the New hardly be changed by the succession of Mr. Jacob L. Greene to
England Iron Company against the Gilbert Elevated Railroad the presidency, in place of the late Mr. Goodwin, whose high
Company and the New York Loan & Improvement Company was qualities as a gentleman and an executive officer made him uni¬
begun this week before Judge Freedman in Superior Court, Spec- versally lamented.
'
.lal Term. In 1873, the Gilbert Elevated
Railway
Company made
Attention is called to the card of Messrs. Sand, Hamilton &
a contract with the
plaintiff to furnish the superstructure of its
rood for $735,000 a mile, with some
Co.,
and brokers, No. 2 Nassau street. This firm has
bankers
provisions increasing the
amount.
recently organized, but its members are well known in Wall
Nothing* was ever done under this contract toward been
building the Elevated road, which was finally constructed by the street and among commercial interests in New York. Mr. Theo.
V.
New York Loan & Improvement
the senior member, has had some years’ experience in
Company. The plaintiffs claim theSand,
commercial paper line; Mr. J. G. Hamilton has a
that they spent $5,000 in
large and
making their estimates, and would have extended
made a profit of $400,000 per mile, and
acquaintance amongst mercantile interests in and out of
they ask $4,005 000 dam¬ the
city; while Mr. Joseph De W. Dimock has been for a long
ages. The defendants say, in substance, that the plaintiffs never
time a member of the New York Stock
could have fulfilled its contract, and went into
Exchange, representing
liquidation loDg the well-known house of Soutter &
before the road was built, and is
Co. The firm, taken as a
only kept alive for the purpose
■of bringing this suit.
whole, is apparently well made up, and promises to command its
full share of business at the Stock
Exchange and in commercial
Newark City Bonds.—The Controller of Newark opened bids paper.
<ra Feb. 27 for
$450,000 6 per cent bonds, payable in thirty
-The semi-annual report of the Anglo-Californian Bank of San
years.
The sinking fund took $180,000 at the highest bid
made, Francisco, founded by the Messrs.
■and the balance was awarded at 106 53
Seligman, shows a net profit
for the six months of $70,939, from which a dividend at the
rate
4)lt!o& Mississippi.—Mr. Frederick Dimpfel, chairman of the of 8 per cent per annum has been declared, payable at London
and San Francisco.* The reserve of the bank remains
-stockholders4 committee of the Ohio & Mississippi
$’90,000,
Railway Com¬
pany, says to an American Exchange reporter, in regard to the and the surplus on profit and loss accbuxt shows 85 per cent.
^negotiations for settlement of this company’s affairs, that “ there The above dividend is the eleventh consecutive semi-annual
is, ia the opinion of eminent counsel, little doubt of ultimate dividend paid by the bank since its organization,
July 2, 1873.
success - in setting the
Springfield Division purchase aside. The net earnings from that date to December 31,1878, amounted
The proceedings of this re-construction committee
in all to
can
hardly shows an $1,126,254, which, on a paid up capital of $1,500,000,
be considered as in the interest of the Ohio &
average of about 13£ per cent per annum for the 5£
Mississippi
Railway Company’s stockholders.
The Sprngfield Division years in question.
ia a worthless
piece of property, judging from the last two
—Messrs. R. J. Kimball & Co., whose card will he found in the
reports of the receiver, in the first of which he stateB that it fell
Chronicle to-day, buy and sell, on commission for cash or on
abort of earning
operating expenses $43,000, while in the last
circular issued by the company in
September he reports the loss margin, stocks, bonds, and all investment securities, including
at $51,000,
This house ranks
making in all $94,000 within about twelve or governments, in lots to suit purchasers.
thirteen months. And yet there is an apparent
among ihe old established firms of the street, its members hav¬
attempt on the
part of the chairman of the * re-construction committee’ to con¬ ing been members of the New York Stock Exchange for more
bonds as the holders
may not desire to extend.
offered expires May 1st.
The option
and all other liabilities is
—
gratulate the stockholders of the Ohio &
Mississippi
’Company
Railway
upon the Springfield Division party having made great
^ozzeeseions, when in reality they will receive a dividend in the
shape of coupons on $1,250,000 in bonds. This will cause the
stockholders of the the Ohio &
Mississippi Railroad Company,
both preferred and common, to he
deprived of a sum amounting
to $87*500
per year, apart from the loss entailed on the Ohio &
Mississippi Railway Company in operating the Springfield
Difiaon.1'
,t.i
Mr. Dimpfel also stated that the stockholders’ committee had
bean formed for the protection of the stockholders’
interest.and that
ut was not committed to the
re-adjustment plaD. It would await
•the final disposition by the
Supreme Court of the suit now pedd-
than twelve years.
The attention of investors and others is called to the notice
of Messrs. J. D. Probst & Co., 52
Exchange
in
—
place,
another
column, who buy and sell Erie first and second consolidated
bonds and Erie $6 assessment paid shares.
Parties wishing to
deal in these securities, which are now profninent
specialties of
this market, may Buit their purposes well
by calling on Messrs.
Probst & Co.
..
.
—On the 15th inst., Wells, Fargo & Co. will
pay the February
dividend of the Ontario Silver Mining Co.—50 cents,
per-share,
transfer books closing on the 10th.
The shares are quoted about
40i.
*
?
*
<i
THE CHRONICLE
254
[Vol. XXVIII.
OOTTON.
glte <&tt\xixazuml Suites.
Friday, P. M., March 7, 1879.
The Movement op the Crop, as indicated by our telegramsfrom the South to-night, is given below.
For the week ending
this evening (Mar. 7), the total receipts hav.e reached 83,266 •
COMMERCIAL EPITOME.
Friday
^
Night, March 7.
bales, against 110,047 bales last week, 134,328 bales the previous
week, and 150,841 bales three weeks since; making the total
receipts since the 1st of September, 1878, 3,919,830 bales, against
3,670,00 L bales for the same period of 1877-8, showing an increase
since September 1, 1878, of 249,829 bales. The details of the
receipts for this week (as per telegraph) and for the corresponding
weeks of four previous years are as follows:
Trade continues to improve, in spite of various petty drawbacks.
The weather is now seasonable and promises an
early spring. The necessity for an extra session of Congress will
perpetuate political excitement, but not of a character likely to
disturb or to distract attention from mercantile affairs, as none of
the measures in dispute between the parties have any relation to
the currency or other matters affecting values.
An easy money
market also seems to be assured through the arrangements mak¬
ing for the easy settlements in April and May of the large bond
purchases falling due in those months. The whole spirit of the
times seems to be in favor of pushing business rather than forc¬
ing up values.
The following is a statement of the stocks of leading articles
of domestic and foreign merchandise at dates given:
1879.
March 1.
Beef
4,421
71,9j9
103,072
Pork
Lard
Tobacco, foreign
Tobacco, domestic
24,719
,
hhds.
Coffee, Rio
Coffee, other
Coffee, Java, &c
Sugar
Sugar
Sugar
Melado
Molasses, foreign
Molasses, domestic
Hides
Cotton
Rosin
Saltpetre
Jute
Jute butts
Manila heniD
5.053
5~,45)
7i,; 19
96,994
67,1 0
24,045
39,516
6,760
6,925
Galveston
8,117
7,325
175
65
26
262
213
10,396
8,691
5,617
8,853
6,052
8,622
City Point, &c
2,106
7,277
1,463
682
431
416
83,266
90,947
50,742
73,380
60,282
3,6; 7
3.292
1,714
4,900
4,2 0
3,500
20,600
32,8 0
5,513
4,473
7,642
Norfolk
150,966
3^,794
4,597
33,381
3,259
#
164
170,‘67
3,136
26,769
233
9,421
4,224
2,384
5,624
16 ,650
34,439
695
4,694
iDdianola, &c
Tennessee, &c
Total this week
9..'90
Total since
191
...
'
Sept. 1, 3,919,830 3,670,001 3,623,749 3,569,522 3,052,782
The exports for the week ending this evening reach a total of
134,523 bales, of which 46.323 were to Great Britain, 9,520 to
France, and 78,630 to rest of the Continent, while the stocks as
53,500
149,‘.40
:
49,146
5,991
1,0 2
4,500
made up this evening are now
stocks and exports for the week,
week of last season.
995
133,775
^
90
Port Royal, &e
Savannah
116
No. 175,^00
•
979
4,709
2,296
7,018
2,059
1%000
•
33
22,578
489
3.405
•
36,643
6,572
3,379
1,207
5,925
42^820
•
20,860
3,673
3,402
1,279
11,5*8
8,0.5
3.700
41,335
7,820
5,264
186
17,403
28,714
7,450
20,346
6,148
4,410
1.121
78,049
25,0:0
1875.
910
45,727
35,70.5
19,141
6.210
Charleston
1876.
Florida
500,000
1,730
bbls. and tea.
Mobile
1877.
North Carolina
92,416
32 500
New Orleans
1878.
17,115
33,733
19.501
1879.
23,185
21,000
29,762
8.275
Tar
Linseed
4,522
402,000
2,316
6,174
bbls. 24,(ICO
Spirits turpentine
Rice, E. I
Rice, domestic
31,692
123,723
1979.
Feb. 1.
1878.
March 1.
Receipts this w’k at
Week
6,(00
ending
3, 03
Mar.
9 600
42 850
7.
N. Orl’ns
The
EXPORTED TO—
Great
Britain.
France.
30,437
9,372
Conti¬
nent.
40,792
715,640 bales. Below are the
and also for the corresponding
Total
this
Week.
Same
Week
1878.
80,601
STOCK.
1879.
1878.
48,933 310,127 340,636
tendency of the provision market has been toward lower Mobile..
3,512
7,735
3,496 38,030 56,242
4,223
prices; several sharp declines have been noted, and, at times, Oharl’t’u
3,850
33.575 38,259
6,133
2,283
10,347
much irregularity, bordering on demoralization.
The move¬ Savan’h.
21,330
24,163
12,369
2,838
40,891 60,779'
ment has been quite moderate.
To-day, there was a further
496
8,311
7,815
8,390 63,231 59,912
break in prices, and much weakness was noticeable until the Galv’t’n148
5,150 173,903 145,291
1,321
3,352
1,883
close, when higher advices from Chicago gave some improve¬ N. York.
900
900
Norfolk4,748
27,893 19,530*
ment ; old mess pork sold on the spot at $9 50.9$9 75. and
60
3,323
7,561 28,000 51,000
3,2.53
choice new ai $10 75@$10 90 ; new mess, for March, $10 bid Other*..
and $10 50 asked ; April $10 15 bid and $10 35 asked. Bacon Tot. this
was dull and lower at 5 05c. for long and short clear here.
Lard
week..
9,520 78,680 134,523 100,994 715,640 771,649'
46,323
was again lower and still dull ; Western sold on the spot at 6 70
@6*72£c., closing at latter price, and prime city at 6£c.; March Tot.since
8ept. 1. 1515,661 349,160 718,903 2581,024 2322,658
options sold at 6G2$c.; April, 6653I6 67£c.; May, 6 65@6 72£c.;
June, G‘75(S6'82^c.; refined fpr export to the Continent, quoted at
The exports this week under the head >f “ otuer port*” include, fro n Balti¬
7c. Butter has sold fairly for export, though at rather weak more, 1.978 bales to LiVerpoo’; from Boston, 200 bales to Liverpool; from
Philadelphia, 1,085 bale* to LIvet poo'; from Peasacola. 03 cales to Ouuti .ent.
figures. Cheese is quiet, especially for home use, and barely
From the foregoing statement it will be seen that, compared
Bteady.
with the corresponding week of last season, there is an increase
There has been only a moderate business in Rio coffee, and
in the exports this week of 33.529 bales, while the stocks to-night
prices have shown no material change, fair cargoes closing at are
56, ('09 bales less than they were at this time a year ago.
13i(al3$c. Mild grades were somewhat neglected. New Or¬
In addition to above exports, our telegrams to-night also give
leans molasses has been active and higher, with 40c. now read¬
us the following amounts of cotton on shipboard, not cleared, at
ily obtained for choice, while common sells at 28c. Foreign
the
ports named. We add also similar figures for New York,
molasses remained very quiet, the season not having opened yet.
which are prepared for our special use by Messrs. Carey, Yale &
Rice has sold briskly at steady pricts.
Raw sugar has generally
been quiet, though on Wednesday there was a better trade; Lambert, 60 Beaver street:
On Shipboard, not cleared—for
prices are about steady at 6|<3>6£c. for fair to good refiniDg, and
Leaving
March 7, at—
05@7|j. for centrifugal; refined closes firm, with an improved
Coast¬
Liver¬
Other
Stock.
France.
Total.
trade, at. 8|c. for crushed, with soft sugars especially firm.
pool.
Foreign wise.
Kentucky tobacco has been more active, and the sales of the
200 127,450 182,750
56,500 12,250 58,500
week are 800 hhds., of which 600 fcr export and 200 for home New Orleans
Mobile
23,630
1,800
1,000
6,600
14,400
5,000
100
consumption. Prices are very firm ; lugs, 2|@4|c.; leaf. 5@12c. Charleston
3,400
16,350
17,225
4,550
8,300
None.
22,100
There has been only a moderate bu?iness, including 315 cases 8avannah
2,600
18,781
1,500
18,000
18,761
36,689
26,542
3,191 11,318
3,419
Pennsylvania, 8^@18c, ICO do. New England, 12@28c.; and 87 Galveston
None.
None.
250
New York
2,376
*3,226 170.677
cases State, private terms, all
crop of 1877.
The business in Other ports
None
14,000
18,000
3,000
37,893
1,000
Spanish tobacco is limited to 450 bales Havana at 88c.@$l 10.
Total
104,237 24,991 39,168
9,219 238,215 477,498
The bill passed by Congress to reduce the tax on Tobacco, from
20 to 16c., has been approved by the President, and is therefore a
Included in tins amount there are 600 bales at Presses for foreign
.
...
....
.
...*.
....
....
....
*
'
*
law.
Ocean freight room has met with satisfactory recognition;
berth rates have been slightly irregular, but tbo*e for charter
room have advanced and show considerate strength.
Late
engagements and charters include : Grain to Liverpool, by steam,
5fd., GO lbs.; butter and cheese, 40s.(242?. 6d.; grain, by sail,
Gjd. To-day, berth room was quiet, but oil tonnage was more
active at lower grades ; grain to London, by steam, 6d., 60 lbs.;
do. to Bristol, by steam, 7£d.; do. to Glasgow, by sail, 6d., 60
lbs.; grain to Cork for orders, os. Gd. per qr.; do. to Bordeaux,
4s. 9d.@5s.; do. to Havre or Antwerp, 4-». 6d.; refined petroleum
to Bremen or Hamburg, 3s.; do. to. Bremen, 2s. 10^d.; crude do.
to Havre, 3s. 3d.
In naval stores little or nothing of interest has transpired, and
yet late quotations are sustained ; spirits turpentine, 29£@30c ;
common to good strained rosin, $1 40@$L
42|. Petroleum has
declined, which induced an improved movement; refined, in
bbls., 9c.; do., in cases, ll-£@12£c. American pig iron remains
firm, though the movement is less liberal; a new feature was
noticed in the sale of 190 tons No. 1 and Thomas for export to
China. Rails are firm and quiet at $45 for steel at tide-water.
Ingot copper about steady and quiet at 154c. Grass seeds quiet,
whiskey closed at $1 07.
ports, the destination of wliicb we cannot learn.
The following is our usual table showing
cotton at all the
Ports.
RECEIPTS SINCE
SEPT. 1.
1878.
N.Orlns
Mobile.
Char’n*
Bav’h..
Galv.*.
N. York
the movement bf
ports from Sept. 1 to Feb. 28, the latest mail dates:
] 1877.
995,323 1162,160
324,966 358,625
484.377 412,829
644,143 514,945
504,541 386,985
81,311
120,834
Florida
47,441
12,208
N. Car.
123,095
Norf'k*
461.377
130,467
123,649
417,227
Other..
rhisyr. 3836,564
Laetyr.
109,116
EXPORTED SINCE SEPT.
Great
Britain.
_
France.
i
Other
'Foreign
1 TO—
Stock.
Total.
415,806 170,872 183,277
33,144 28,547 23,565
135,906 51,737 143,796
176,822 23,646 180,547
174,849 50,038 48,792
179,757 10,320 18,845
1,967
10,296
2,050 18,589
42,817
713
154,490
3,858
13,954
145,451
774,955^358,452
1469,338 339,940 640,223
2449,501^797,022
85,256*
43,677
331,439
36,200
381,015; 63,602
273,729|
67,515
208,922 172,731
12,263!
63,456
159,061
159.405
5,445
27,900
21,500
3579,054 1377.548 396.571 447.545 2221.664 814,895
•
Under the head of Charleston 1b Included Port Royal, Ac.; under the bead of
Oaiveeton 1b included Indlanola. Ac.; under the head of Norfolk 1b Included’ City
Point, Ac.
March
THE CHRONICLE.
8, 1879. J
There has been
fair demand from home
spinners the past
week, but under pressure to sell prices gave way l-16c. on Wed¬
nesday, to 9fc. for middling uplands.
The free offering of
“
a
short notices" for March
lation in futures has been feverish and
prices fluctuating. The
opening of the week was rather stronger, but a decline soon set
in, which continued till towards the close of Wednesday, and
carried values down 12@15 points.
The smaller receipts at the
ports caused, late on Wednesday and early yesterday, a demand
04173.352
There has been
than the usual amount
more
of speculative manipulation to effect values, but the business of
exchanging the early for the later months has nearly ceased,
owing to the wide disparity of values. Business for the next crop
has been limited, and prices were scarcely better sustained than
the present.
Latterly, the general feeling has been stronger,
■owing to the reduced receipts at the ports, the statistical position,
the improvement in domestic cotton goods, and the belief that
American spinners are carrying but small stocks.
Yesterday, the
decline of Wednesday was fully recovered, and to-day’s
opening
was firm, in sympathy with a
stronger report from Liverpool ;
but as that market gave way towards the close, we receded 3@4
points.
The total sales for forward delivery for the week are 261,200
bales, including — free on board. For immediate delivery the
total sales foot up this week 3,812 bales, including 2 ;0 for
export,
2,951 for consumption, 29 L for speculation and 350 in transit. Of
the above, 100 bales were to arrive.
The following tables show
the official quotations and sales for each day of the past week:
UPLANDS.
Mar. 1 to
Mar. 7.
Sat.
Mon Tues
Ordin’y.$B>
Strict Ord..
Good Ord..
Str. G’d Ord
Low Midd’g
Str.L’wMid
NEW ORLEANS.
83s
87a
Zi5le
§*10
838
8ia
836
9710
9^8
Middling...
§Jio
8ia
§Jl0
84
She
9
9
9
9
9^16
99m
9^16
9910
9^10
9910
9%
9\
9®16
9*10
9516
99i6
9516
9910
9^8
93*
Fri.
8516
81316
9*6
93q
916
939
9916
99ie
77s
93*
1016
10^
113s
113s
1138
113s
123i6 123i6 1231C
934
Th.
113b
Frt.
Wed
8
8
8°16
8lai0
8*16
8«I6
S7i0
8716
9%
93s
914
9^
87j6
81«16
9916
91116
81*16
914
9h}
978
1014
1058
91!10
978
123i6
Til.
Frt.
8
87
iho
8a?ni5ie
914
913
9hs
9*4
9*6
9ha
91! 16
91!l0
9“ic
97110
914
978
978
1014
105s
IOI4
105s
113s
I23i6 12316
S
93*
1016
lOhi
978
1014
IOSq
1014
105a
9%
97e
1014
1053
115i6 ii5i6 11516 Il5i0 115i0 ll510
12
STAINED.
Good Ordinary
Strict Good Ordinary
Low Middling
9%
8
Midd’g Fair U3le 11^16 11310
12
934
91&16 91516 91&16 91&16 91516 915J6
10°16 10°16 10°i6 105i6 10°16 10®16
IOII16 IOH16 lOitie 101*16 101116 101*i6
Wed
7Js
$ lb.
Middling
500
900
700.
1216
1216
Sat.
Mon Tu»
1216
1216
1216
Wed
§*10
89i0
8910
§g16
9Uo
9716
§*10
8916
9*10
9<16
8
1216
Th.
Fri.
8
8
"
500.
800
500.
.
800
100
300
8*a
8*a
8ia
9*10
9
9
9
9716
9»8
93s
938
Cts.
Bales.
Cta.
100
...10-37
1,200
10-41
10 22
9,300
400
400
10-42
10-43
10-23
10-24
10-25
.....10-27
10-28
10-29
10-30
10-31
10-32
1,900
The
•10
10
For AuguBt.
800
.10-30
500. A
10-31
300
10-32
300
10-33
100..
10-34
100
10-35
200
10-36
200
10-39
500
10-40
10-33
000....
1034
Sat.. Dull
Mon Quiet.
Tue8. Quiet.
.
Tkurs
Fri.
.
Con-
120
Quiet, lower,
uiet and
Quiet
steady
Total
Spec-
332
566
549
378
463
663
i’oo
.
Wed
Ex¬
220
2,951
"83
Sales.
332
208
37.900
3,812 261,200
2,900
877
378
463
663
350
Deliv¬
eries,
300
400
800
800
500
100
1,099
....
291
FUTURES.
Tran¬
sit. Total.
350
42.200
38.200
34.500
65.500
42.900
delivery, the sales have reached during the week
261,200 bales (all middling or on the basis of middling), and the
„
a
statement of the sales and prices:
For March.
Bales.
Cts.
400 s.n.4th. 9-74
000 a.n,5;h. 9 74
100 s.n.ttli. 9-74
3,800
9-74
400 ?.ti. 5*h. 9 75
200 s.n.fith. 9 75
4,700
9-75
+ 100
9-70
II 100
9-70
200 e.n.5t:i. 9-70
5,100
9-0
IT 200.
9-77
a 200
9-77
200 s.n.5th. 9-77
300 8.n.6th. 9-77
900
9-77
200 s.n.5th. 9'7i
Bales.
Cts
300 p.u.6th. 9-64
100 e.n.'ith. 9 05
400
9-Qi
1,000
9 07
*1,000
9-08
lOO's.n.eth. 9-08
700
9-08
OOOa.n.Ctti. 9 09
200 8.n.8th. 9-69
1,300
9 09
t 100
9-70
200 8.n.8th. 9*70
2,000
t 100
200
.
e.n.
200.
9-70
9-71
4tli. 9*71
9*71
9*72
t loo;.
,600 s.n. 4th. 9*72
5,000
% 300
9-79
300 B.n.Clli. 9 79
300 e.n.71 h. 9 79
0) 0 s.u.Eth. 9-79
UOO 8.n.8th.
9 72
10th 9*72
9*72
200ri.n.3d.. 9 73
400 e.n.5th. 9*73
20ft r.u. 6th. 9 73
300 8.a.8th. 9 73
,3.000
«-7S
100
TOO
5
£00.
a n.
.....
...
9-74
^800 8.u.3d..,9*74
9-78
900
0,800
13,500
0,300
14.200
7,200
1,9j0
...
-
4.700
05,300
Futures
Saturday.
For June.
10-10
10 11
2.200
|
3.300
10 10
1017
99,400
3,000
For May.
100
9 95 I
10-12
10 13
1014
10-15
1,000
10-18
...10-19
10-20
9-96
9*97
4th. 9-80
3,300..
9-80
200 s.n. 1st. 9-81
6,300
1,400...
2,500.
2,100
9-93
3.700
10 23
9-90
10 00
9,100....;-...., 10 01
2,800
10-24
10-25
A-*-
s.n
.
v-
40,300
40,300
,?otIce March 0th.
0,100.*
5,300
5,800
5,800.
.
r
300.
10-21
10-22
10-02
10
02 |1 31,000
t No notice this week. * t No
notice till 12th.
§ No
IF No notice March 3d.
a No notice till
]
800
-400
•15
•14
\9
•03
pd.
pd.
pi.
pd.
to exch. 100 March for April.
t > exch. 100 March for April.
t) exch. 2 000 vaich for May.
to exch. 100 March
8.
n.
for
lar.
•12 Dd. to f xch. 100 March for April.
•0» p 1. to exch. 100 Marc i e. n. 8m for
rev
regular.
Market.
Firmer.
For
Day.
High.
March
“
.
s.n.
April
May.
June
..
..
.
July..
.
*
August.
Sept’b’r
October
Nov’ber
Tr. ord.
Closed.
Monday.
*
Closing.
Fo^Day.
Bid. AHk
Low.
9-79- 9-76 9-77 78
9-74- 9-73
9-96- 9-91
9*94 —
10T0-10-04 10-08 09
10-25-10-18 10-23 —
10-34-10-28 10-34 35
10-39-10-42 10 41 42
10-23 24
9-98- 9-98 10 00 02
9-90- 9-90 9-89 92
—
—
—
Tuesday.
Easier.
—
9-80
Low.
High.
9-77- 9-74
9-75- 9*71
9-93- 9-91
Variable.
Closing.
For
Bid. A%k
9-77 78
High.
—
—
9-92 93
1008-1005 10-07 08
10-23-10-20 10-22 23
10-33-10-32 10-32 33
10-41-10*40;i0-41 42
1024-10-24 10-23 21
—
.
9*99
—
Closing.
Day.
Low.
Bid. Ask
9-80- 9-75
9 74 75
9-79- 9-76
9‘95- 9-90
1009-1004
10-24-10-19
10-34-10-30
10-43-10-40
10-25-10-25
—
9-90
10 04
1018
10-29
10-37
1018
9-96
9-91- 9-91
9 84
*
—
9 92- 9-92 9-90 92
9-80
.
—
Steady.
Steady.
Futures\
Wednesday.
Thursday.
Friday.
Market.
Lower.
Firmer.
Easier.
For
March
Day.
High.
Low.
Closing.
For
Bid. As*
High.
9*73- 9-66 9-68
s.n.
9-69- 9-64
9-88- 9*81 9-82
April.
May. .. 10 02- 9*96 9-97
June... 1016-1010 10-11
July ... 10-27-10-21 10-22
August. 10-33-10-30 10-31
Sept’b’r 1016-1014 10-13
October 9-92- 9-92 9-94
Nov’ber
Tr. ord.
9-7(>
Closed.
Bately steady.
69
Bid. Ask
Low.
9-769-7383 9-8998 10 04-
.
“
Closing.
Day.
—
9-69 9*76
9-65
9-83 9-89
9-97 10 03
10-18-10*12 10T7
10-28-10-24 10-28
10-36-10-32 10-35
1019-10-16 10-18
9-98- 9-96 9-98
—
.
—
23
33
16
97
1
—
—
—
—
—
05
19
30
39
20
98
87
9*75
Barely steady.
For
Day.t
Closing
Bid. Ask
High. Bow.
9 76- 9-73
9*72- 9-72
9 89- 9*85
9-71 72
—
—
9-83 —
04 1003-1000 9-98 —
18 1018-1014 10'12 13
29 10-2910-25 10 23 24
37 10-3410-34 10-31 32
20 1019-1019 10-13 15
10
9 92 95
—
—
-
—
1
'
1
9 QC
9-7;
)
Easy.
Steady.
*10 01.
There were sales for
t To 2 P.M.
special delivery in March : on Saturday, at 9*79®
9-80; on Monday, at 9-78; on Wednesday, 9-69o>9*71; on Thursday,
9*72; on Friday, 9-74'S 9 76.
The Visible Supply of Cotton, as made up by cable and
telegraph, is as 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
complete figures for to-night (Mar. 7), we add the item of
exports from the United States, including in it the exports of
Friday only:
the
Total Great Britain stock
Stock at Havre
Stock at Marseilles
Stock at Barcelona
1879.
1878.
1877.
1876.
556.000
663,000
10,250
937,000
33,250
849.000
970,250
154,750
3,500
907,250
225,500
58,000
13,000
48.000
64,000
3,500
673,250
256,500
5,000
23,250
8,500
35,750
36,750
10,500
6,500
6,000
5,500
10,000
6,750
11,750
93,000
19,000
45,000
46,000
15,750
13,250
263,000
388,250
369,750
618,750
.
’
Stock at Hamburg
Stock at Bremen
Stock at Amsterdam.
Stock at Rotterdam
Stock at Antwerp
Stock at other conti’ntal ports.
Total continental
ports....
Total European stocks..
India cotton alloat for Europe.
Arner’n cotton afloat for Eur’pe
Egypt,Brazil,&c.,aflt for E’r’pe
Stock in United States ports
8tock in U. S. interior ports...
United States exports to-day..
Total visible
Of the above,
follows:
143,750
1,500
30,000
4,500
22,500
42,750
8,500
.
58,250
4,750
14,250
516,500
881,750 1,061,500 1,340,000 1,423,750
154,000
168,000
116,000
134,000
591,000
663,000
535,000
632,000
40,000
46,000
21,000
41,000
715,640
103,303
22,000
771,649
112,101
9,000
859,697
99,795
2,000
734,425
124,135
29,000
supply.bales.2,522,693 2,734,250 3,140,892 3,082,310
the totals of American and other descriptions are aa
American
Liverpool stock
•
4,300
“Once March 7th. | No notice till 5th.
7ta. h No notice March 1st.
8,800.......
3,500
9-80
9-87
9-83
9-89
9-90
9-91
9-92
9-93
994
9-95
9-96
2,590
2.200
2,5U0.
2,000
2,000
300
100
-
7,500
11,800
Cts.
10*03
10 04
1005
10 00
10*07
10*08
...10*09
10-10
For November.
200.
9-90
100
9-91
100.,
9*92
week.
..
Bale9.
9-79
9-80
1,800
b
For April
Ba^ee.
Cts.
200
9-81
2.100
9-82
4,000.
983
2,800
9-84
0,800
9-85
700
The following will show the range of prices paid, and the
closing bid and asked, at 3 o’clock P. M., on each day in the past
..
For forward
following is
For September.
100
10-14
200
....10-10
300
10 19
100
10-24
100
10 25
62,750
SALES OF SPOT AND TRANSIT.
port. sump. ul’t’n
5,000
pd. to exch. 200 March for April.
pd. to exch. 100 March no nctice
March 1, for April.
•17 pd. to exch. 400 March for Arril.
*01 pd. to exch. 100 March regular for
March no notice March 3.
•29 pd. to cxch. 200 March for May.
•29 pd. to exch. 3 )0 ^ pril for June.
*14 pd. to exch. 300 March for April.
MARKET AND SALES.
SP3T MARKET
CLOSED.
For October.
Bale?.
Ct«.
1(X>
9-92
100
9-90
400
9-98
100
10 00
following exchanges have been made during the week:
8ia
9
77s
8516
81.*16
Fair
8ia
9
Th.
Good Mid.. 1016
Str. G’d Mid 1012
She
S78
93s
93*
§*10
8^2
9310
97ie
..
Strict Ord.
Good Ord..
Str. G’d Ord
Low Midd’g
Str.L’wMid
Mon. Taes
87e
91316 91316 913i6
Good Mid
10316 10316 10316
Str. G’d Mid 10916 10916 10916
Midd’g Fair 11*4 11*4 11*4
Fair
121i6 12116 121ie
Ordin’y.$n>
Mon Taes Sat.
9316
9-16
Middling...
Wed
Sat.
TEXAS.
...
Bales.
Ct».
.10-21
1,000
re¬
cently, and receivers exhibited more anxiety to realize, especially
as our figures are much above the parity of Liverpool, where
prices have been yielding. The market to-day was nominally
unchanged, with only a moderate business for export. The specu¬
July.
000
the chief element of weakness.
was
Stocks have been accumulating somewhat at this market
to cover contracts.
For
Bale*.
255
Continental stocks
American afloat to Europe....
United States stock
United States interior stocks..
United States exports to-day..
427,000
225,000
663,000
715,640
103,303
22,000
504,000
340,000
585,000
771,649
112,101
9,000
627,000
486,000
286,000
632,000
290,000
591,000
734,425
124,135
29,000
859,097
*
99,795
2,000
bales.2,155,943 2,321,750 2,505,892 2,254,560
Indian, Brazil, &c.—
Liverpool stock
129,000
159,000
310,000
363,000
London stock
10,250
58,250
62,750
33,250
Continental stocks
48,250
38,000
83,750
226,500
India afloat for Europe
154,000
116,000
168,000 .134,000
Egypt, Brazil, &c., afloat
21,000
41,000
40,000
40*000
Total American
East
Total East India, &c...
Total American
.....
2,522,693 2,734,250 3,140,892 3,082,310
6*4(1.
O^d.
69ied.
5516d.
Total visible supply
Price Mid. Upl., Liverpool
..
.1.
827,750
635,000
366,750
412,500
2,155,943 2,321,750 2,505,892 2,254,560
I
.fe
UiMIMU. if*
.iflr 1*1 V VIr ta•‘l
[l
<
[Voii. xxvm
THE CHRONICLE.
256
figures indicate a decrease in the cotton in sight to-night
of 211,557 bales as compared with the same date of 1878,
decrease of 618,199 bales as compared with the corresponding date
of 1877, and a decrease of 559,617 bales as compared with 1876.
AT the Interior Ports the movement—that is the receipts
and shipments for the week, and stocks to-night, and for the
corresponding week of 1878—is set out in detail in the following
These
statement:
Week ending
Receipts Shipm’ts
5,327
1.836
12,330
3,433
57,827
4,494
390
459
502
1,771
3,525
8,682
2,208
755
870
Memphis, Tenn..
Nashville, Tenn..
15,317
14,874
Total, old ports.
21,226
Dallas, Texas....
Jefferson, Tex....
Shreveport, La ..
Vicksburg, Miss
Columbus, Miss..
Eufaula, Ala
Griffin, Ga
Atlanta, Ga
Rome, Ga
Charlotte, N. C...
St. Louis, Mo
Cincinnati, O
241
380
354
610
2,623
3,377
5,108
503
957
938
4,033
469
685
571
318
245
388
640
975
637
1,455
2,080
630
7,602
9,062
11,111
805
1,439
3,203
4,247
3,568
1,386
1,873
.
13,378
15,312
13,790
Montgomeiy, Ala
Selma, Ala
3,491
2,082
22,208 103,303
Columbus, Ga....
Macon, Ga
1,340
492
863
650
949
1,522
10,882
1,583
8,685
956
22,201 112,101
8,562
999
360
121
32
2.226
17160
4,360
1,624
1,452
1,268
582
'
29,695
8,541
268
864
2,035
10,833
2,372
1,225
34,130
798
•
1,339
1,256
6,151
867
2,011
3,860
6,744
4,927
2,918
3,154
864
9.167
The thermometer has averaged 06, ranging
planted.
to 78.
New Orleans, Louisiana.—There has been no
The thermometer has average! 57.
Receipts Shipm’ts Stock.
Stock.
1,195
1,456
920
296
Dallas, Texas.—No rain has fallen during the week. We are
needing some rain, as the ground is getting hard. Fanners areplanting corn and plowing for cotton. Average thermometer 58,
highest 79, and lowest 34.
Brenham, Texas.— The weather during the week has been
warm
and dry, and rain is getting desirable.
Corn is nearly
ending Mar. 8, ’78.
15,897
8,931
3,306
4,817
4,152
58,494
7,706
1,127
Augusta, Ga
Week
Mar. 7, '79.
the week, and more rain is needed. Planting is progressing..
The thermometer has ranged from 34 to 79, averaging 59. The
rainfall for the week is seveii hundredths of an inch.
from 45
rainfall during
the week.
&ireveport, Louisiana.—The weather during
dry, and roads are in excellent condition.
mometer 58, highest 78, and lowest 37.
Vicksburg, Mississippi.—Telegram not received.
been,
Columbus, Mississippi.—We have
Corn planting is
of the week.
weather.
Little Bock,
the past week,
the week has
Average ther¬
had a slight rain on one day
progressing with favorahle
Arkansas.—The weather has been fair to clear
excepting Saturday.
On Saturday night we had
light shower, the rainfall reaching two hundredths of an inch.
Average thermometer during the week 52, highest 77, and
a
lowest 29.
fallen during the week on
hundredths of an inch. The
averaged 41, the extreme range having been
Nashville, Tennessee.—Rain has
one
day, the rainfall reaching five
thermometer has
24 to 73.
7,326
Memphis, Tennessee.—Telegram not received.
Mobile, Alabama.—There lias been no rainfall during the
27,983 36,549
Total, new p’rts 29,997 33,834 62,316
week.
Planting is making good progress. Average thermome¬
58,750 192,465 ter 56, highest 71, and lowest 35.
41,773
56.042 165,619
51.223
Total, all
Montgomery, Alabama.—It has not rained here during the
The above totals show that the old interior stocks have week.
The days have been warm, but the nights have been
decreased during the week 982 bales, and are to-night 8,798 cold, and we have had one frost. Average thermometer 55, high¬
hales less than at the same period last year.
The receipts at the est 73, and lowest 31.
same towns have been 7,435 bales more than the same week last
Selma, Alabama.—No rain all the week, the weather having
been warm and dry.
year.
Receipts from the Plantations.—We make a change
Madison, Florida.—The days have been warm, but the nights
to-day in the character of this table. ■ It was started with the have been cold, during the week, no rain having fallen. Aboutobject of showing the portion of the receipts at the outports ninety per cent of the crop has been marketed to date. Average
which each week came from plantations.
We now revise it so thermometer 58, highest 70, and lowest 46.
Macon, Georgia.—'there has been no rainfall during the week.
as to show the portion of the receipts not only at the out ports
The thermometer has averaged 49, the highest being 06, and the
but a1 so at the interior ports which each week comes from plan¬
lowest 30.
tations.
We think in this shape it will be more useful.
10,237
6,918
7,031
80,364
RECEIPTS
PROM
Columbus,
PLANTATIONS.
week.
Week
end’gSept 6.
“
13.
“20.
“
27.
Oct. 4.
“
11.
“
18-
“
25.
Receipts at the Ports.
1876-7.
19,753
41,457
62,998
95,815
122,193
136,074
152,820
174,617
£01,934
211,810
lb77-8.
5,885
12,109
22.315
43,128
70,040
109,264
135,054
157,609
“
8.
“
15.
“
22.
177,336
198, 76
205.C0 i 194,571
211,823 200,980
“
39
204 819 172,216
Nov.l.
Dec. 6.
“
13.
“
10.
“
27.
Jan. 3.
“
10.
“
17.
44
24.
“
31.
Feb.7.
“
14.
“
21.
“
28.
1878-9.
187,733 174,365
196,436 202,805
171,596 231,594
162,633 2’4,634
115,268 165,755
101,132 142,099
115,015 153,727
109,447 164,059
138,374 159,166
110.006 137,138
120,720 120,090
83,068 109,7-36
68,615 94,349
50,742 90,947
26,750
47,431
Stock at Inter’r
1876-7. 1877-3. 1878-9.
20,760
23,431
28,904
33,637
57,048
72,277
81,871
74,355
98,663
130,990
148.158
160,233
162,236 103,774
157,280 123,652
182,874
138 11!
176,004
157.361
181.376
180,519
184,625 197,131
220,748 213,722
220,291
Ports Rec’pts from Plant’ne.
16,44 *
16,272
15,104
20,510
29,720
41,691
£8,745
80,374
105,314
126,620
132,403
136,941
157,082
169,073
9,979
18,971
26,377
37,872
47,208
59,823
79,597
97,387
115,011
119,498
174,583
188,49 x
205,912
236,280
224,125| 185,665 ‘259.129
204,882 245,615 226,559 230,957
199,981
143,155
121,091
113,613
148,64*
167.097
171,60=
150,841
256,397 281,8 U 204,281
219.905 253,239 281,634
223,007 233,293 253,647
214,057 237,380 233,23*
195,082 *442,013 218,585
182,240 241,494 220,93'
179,266 243,706 214,117
174,977 233,103 190,765
134,328 173,476 226,685 132,246
110,047 173,176 210,935 170,438
6‘%2fih 169.291 192,405 165,619
1876-7.
1877-8. 1878-9.
18,666
6,056
44,123
11,932
63,471
21.177
30,136
56,423
81,761
110,358
140,326
160,773
48,534
140,410 79,250
151,303 121,435
165,414 151,908 180,007
193,52.) 179,233 180/26
221,78’ 202,776 174,427
226,269 219,582 217,338
224,8.76 200,354 201,059
234,081 205,518 195,284
221,491 192,357 202,016
204,-324 186,356 251,116
205,840 219,397 243,140
193,085 272,438 226,710
173,415 259,9 A 213,305
108,776 157,118 130,508
74,234 125,153 93,104
106,065 151,814 93,202
90,472 168,692 133,997
125.532 161,667 169,447
137,032 133,352 164,790
116,431 112,185 127,489
86,569 103,318 125,809
63,315 78,599 98,2:9
1C5.778
Georgia.—There has been no rainfall during the
The thermometer has
averaged 52.
Savannah, Georgia. —We have had no rainfall, the weather
having been pleasant all the week. The thermometer has
touched 35 and 69, averaging 52.
Augusta, Georgia.—It has not rained here during the week,
and the weather has been clear and pleasant.
At some points of
this section corn has been planted, but no cotton, although prep¬
planting are progressing rapidly. Planters are send¬
ing cotton to market freely, and the cause of the small receipts
this week is the fact that the crop is pretty well marketed.
Average thermometer 51, highest 73, and lowest 32. The rain¬
fall for the month of February is one inch and seventy-nine
arations for
hundredths.
Charleston, South Carolina.—There has been no rainfall the
past week. The thermometer has ranged from 32 to 65, aver¬
aging 33.
The following statement we have also received by telegraph,,
showing the height of the rivers at the points named at 3 o'clock
Mch. 6. 1879.
We give last year’s figures (Mch. 7, 1878) forcomparison:
Mch. 7, *78Mch. 6, ’79.
.
Feet. Inch.
Below high-water mark
New Orleans
..
Above low-water mark...
mark...
Above low-water mark...
Above low-water mark...
Memphis
Above low-water
Nashville
Shreveport
Vicksburg
5
17
12
11
31
Feet. Inch-
0
11
6
10
10
4
26
13
24
6
11
9
38
io
O
New Orleans reported below high-water mark of 1871 nntidf
Sept. 9, 1874, when the zero of gauge was changed to higb-watej
mark of April 15 and 16, 1874, which is 6-10ths of a foot above
1871. or 10 feet above low-water mark at that point.
72,4771 78,447
Port Receipts and Daily Crop Movement*—
comparison
of
the port movement by weeks is not accurate,
The above statement shows us
out ports the past week were 83,266 bales, the actual movement as the weeks in different years do not end on the same day of the
from plantations was only 78,447 bales, the balance being drawn month.
We have consequently added to our other standing
from stocks at the interior porls.
Last year the receipts from
tables a daily and monthly statement, that the reader lasyonthe plantations for the same week were 72,477 bales, and for
stantly have before him the data for seeing the exact relati?*
1877 they were 46,855 bales.
Telegraph.—The weather has movement for the years named. First we give the receipts al
Weather Reports by
each port each day of the week ending to-night.
almost everywhere been very favorable the past week for farm
PORT RECEIPTS FROM SATURDAY, MAR. 1, ’79, TO FRIDAY. MAR. 7, *79operations, and excellent progress is being made in preparing
Mar. 7.
46.855
that although the receipts at the
for the next
crop.
Little rain has fallen, and in Texas rain is
needed.
Galveston, Texas.—The weather has been warm and dry
week, and we are beginning to need rain in many sections.
planting is active.
Average thermometer 62,
all the
Com
highest 72, and
Comparative
A
New
Or¬
of
we’k leans*
D’ys
nah.
leston.
391
1,308
1,218
747
143
1,134
1,399
1,400
709
1,410
592
513
831
Wed
has been no rainfall during the week,
and the ground is getting dry.
Corn planting is nearly finished,
and cotton planting is beginning.
The thermometer has aver¬
aged 64, the highest being 78, and the lowest 51.
Corsicana, Texas.—We have had a light shower on one day of
Thur
Char¬ Savan¬
4,746
Mon 9,863
Tues 10,586
Sat..
lowest 52.
Indianola, Texas.—There
Mo¬
bile.
585
3,588
6,849
643
455
1,426
897
Tot.. 36,346
6,148
4,410
Fri..
The movement each
•
160
4,694
Galvest’n.
7b7
Nor¬
folk.
1,116
Wil¬
All
ming¬ others.
ton.
61
1,411
1,868
1,305
1,617
1,293
560 1,423
376 i. 1,725
140 2,984
8,622
1,013 13,916
2,589
1,961
1,038
1,202
8,117
To*a&
10,547
19,628
19,053
7/947
9,860
j 1,542
80 ! 4/236 15,631
50
2/118
300
month since S^pt. 1 has been as
83/266
follows?-
March
THE CHRONICLE
8, 1879.]
—
'
Year
Kesthly
•October..
93,491
578,533
822,493
779.237
'
'
;
288,848
689,261
<9**?<ab’r
Wevcmti’r
1877.
1878.
Receipts.
■
I
——
Beginning September 1.
1876.
236,868
675,260
901,392
787,769
500,630
449,636
1874.
1875.
169,077
610,316
740,116
821,177
637,067
479,801
-
1873.
.
II* *** '
of the past appear to justify the belief, that so long as our crop
increases and prices fail, India mast occupy not an increasing,
134,376
115,255
bat rather
536,988
676,295
759,036
444,052
383,324
355,323
576,103
supply?
a
decreasing, importance In the qnestion of the world’s
Shipments.—According to our cable despatch received
702,168 to-day, there have been 9,000 bales shipped from Bombay to
.Jfaknary. 618,727
482,688 Great Britain the past week and 11,000 bales to the Continent;
566,824
February.
while the receipts at Bombay during this week have been 22,000
YJft.Fb.28 3,83S,564 3,561,300 3,551,655 3,457,554 2,934,051 3,043,205
biles. Ths movement since the 1st of Janaary is as follows.
«frortage< of tot. port
79*99
83*90
82*50
These figures are brought down to Thursday, Mar. 6.
87*95
8195
csoeipts Feb. 23...
BsosmVr
900,119
689,610
472,054
893,664
Tills state meat shows that up
ports this year were
fMkiss
than
more
-shove totals to
at
Feb.
811,668
comparison of the movement
Great
Contir
Brit’n.
nent.
Receipts.
Shipments since Jan. 1.
Shipments this week
the
to Feb. 23 the receipts at
275,234 bales more than in 1877 and 284,909
the same time in 1876. By adding to the
28 the daily receipts since that time, we
iofeaU be able to reach an exact
Bombay
Conti¬
Great
Total. Britain.
71,000 120,000
90,000 22,000
191,000 40,250
75,000
165,000 33,000
50,000
40,000
1879 9,000 11,000 20,000
1878 17,000 22,000 39,000
1877 7,000 6,000 13,000
;
Total.
nent.
This
Week.
90,000
Since
Jan. 1.
156,000
283,000
234,000
foregoing it would appear that, compared with last
there has been a decrease of 19,000 bales in the week’g ship¬
1878-79. 1877-78. 1876-77. 1875-76. 1874-75. 1873-74.
ments from Bombay to Europe, and that the total movement
3,043,205
since January 1 shows a decrease in shipments of 101,000 bales,
TlFcb.29 3,836,564 3,561,300 3,551,655 3,457,554 2,934,051
8.
7,842
8,903
6,325
17,754
Mar. L...
10,547
compared with the corresponding period of 1878.
26,819
12,518
10,947
8.
9,732
2.._.
9,868
Gunny Bags, Bagging, Etc.—Bagging has not moved during
12,802
14,779
8.
12,817
4,567
3....
19,628
8.
18,943 the week, and the market i3 ruling very quiet.
10,411
10,928
32,985
Prices are un¬
4....
19,653
8.
10,479
10,617
8,531
17,175
5....
7,947
changed, and holders are still quoting 8£@8£c. for If lbs., 9@9£c.
14,637
8,240
6,678
19,134
6
9,746
9,860
for 2 lbs., and 9]@9fc. for standard quality; but these figures
8.
11,795
15,922
8,722
8,873
7....
15,631
could be shaded for a round lot. But few inquiries are noted, with
TstsL
3,919,830 3,657,701 3,596,260 3,536,198 2,998,465 3,138,680
only a few small jobbing transactions at our figures. Butts are
Percentage of total
ruling quiet, and there is an easy feeling as to price; and though
82*50
85*74
84-37
8906
8416
pfc. rec’pts Mar. 7.
2|@2§c. are still the quotations, we hear that these figures have
This statement shows that the receipts since Sept. 1 up to been shaded, and that about 2,000 bales have been taken at &
t&o-mglit are now 252,129 bales more than they were to the same concession, though the sale is kept quiet. There have been some
few lots of damaged offering, with sales of 1,000 bales at If
I of the month in 1878, and 323,570 bales more than they
@l|c.
•were to the same day of the month in 1877.
We add to the last
The Exports of Cotton from New York this week show an
Yibie the percentages of total port receipts which had been
increase, as compared with last week, the total reaching 3,352
received Mar. 7 in each of the years named.
bales, against 2,034 bales last week. Below we give our usual
India Exports for 1878.—We last week gave the exports of table showing the exports of cotton from New York, and their
for each of the last fonr weeks; also the total exports
•cotton from Bombay for 1878.
Since then we have received direction,
and direction since Sept. 1, 1878, and in the last column the total
Messrs. Wallace & Co.’s circular of January 27th, giving the for the same period of the previous year.
movement from all the ports, and we take from it the following Sxporu o( Ooitoa(balH) (ron New York since Sent.l, 1878
^statement of the exports of cotton to Europe from all the
tin nmnra
Same
Bast India ports from January 1st to December 31st, 1878.
Total
period
IZFOITD TO
to
prev’m
For the previous years we use our own figures, taken from
March
Feb.
Feb.
Feb.
date.
From the
Cor the different years.
year,
~
*
«
m
...
*
-
•aar
Liverpool......
1874.
1876.
1875.
1877.
1878.
19.
26.
y
5,617
4,160
1,234
1,683
Te Great Britain..
To Continent
842,648
405,763
810,104
455*965
580,935
404,866
985,801
1,248,411 1,266,069
-Total, Bombay
389,005
451,164
840,169
Other British Ports
320,984
405,500
Havre
Other French ports
583
15
Total. Kurrackee.
598
17,477
COrwar—
TO Great Britain..
To Continent
2,547
16,411
7,504
26,388
.
i
2,532
12,279
5,198
2,532
8,363
6,123
13,170
1,173
14,491
14,343
18,958
33,892
6,410
Madras—
To Great Britain..
To Continent
114,872
2,746
132,112
41,581
97,274
28,721
117,618
Total, Madras
125,995
173,693
2,904
30,662
2,246
2,904
32,908
21,100
14,126
10,500
28,800
6,070
23,000
13,452
1,712
10,427
Tat, Coconada,&c.
35,226
39,300
29,070
15,164
17,027
Twticorin—
To Great Britain..
85,889
6,880
41,127
6,956
41,825
19,560
13,007
5,460
52,829
19,836
92,769
48,083
61,385
18,467
72,665
Calcutta—
To Great Britain
‘-To Continent
.
Total, Calcutta....
JKangoon—
To Great Britain..
To Continent.
7,814
2,966
Recapitulation—
...
To Great Britain..
To Continent
36,263
15,192
*
18,464
52,881
3,376
6,600
'
7,902
500
10,780
51,455
18,464
56,257
8,402
10,473
19,261
1,312
5,194
21,035
1,000
4,361
13,169
.
Total, Rangoon
•
•
• *
159
•
Other ports
•
« • •
•
•• •
•
•
159
•
•
•
•
•
•
•
•
•
•
•
•
•
•
AUotnsrs.
•
•
• •
•
•
• •
Total
•
•
•
....
Spain, See
Grand Total.....
The
•
•
•
•
•
p
• •
•
•
•
20,573
5,194
22,035
17,530
1,085,926 1,069,150
448,907 .581,392
752,294
482,557
500,652
463,835
440,335
449,024
10,473
211,761
•
•
•
10,808
4,507
•
following are the receipts of cotton at
115
;
148
10,458
4,622
371
12,719
2,20 i
13,124
m
10,132
15,556
27,710
•
•
•
•
4.454
4,610
•
•
• •
2*398
•
.
950
4,610
8.351
212,274
•
2/34
1,617
100
•
950
•
• •••
4.779
5,947
..
•
.
181,640
371
750
•
210,144
f
....
•
177,828
4,312
143
•-
•
250
500
.400
300
•
....
400
aoo
Hamburg.........
tpatn, Oporto* GHbral tar *c
To Great Britain..
To Continent
Total, Tnticorn....
•
1.883
1,284
Philadelphia and Baltimore for the past week,
lipatam—
To Continent
•
•
Bremen and Hanover
Total to ft. Europe,
<Coraaada and Masu-
’
•
•
....
•••••••#
.
Total, Carwar.....
•
•
726,484
•••*••••
6,410
•
....
4,%X)
5,*47
Knrrachee—
Is Great Britain..
To Continent
60
....
Total to Ot» Britain
.
Banthey—
.year.
12.
Cotton Book.
.
2,398
246.491
New York, Boston,
and since September
1, 1878:
nv YORK.
RBCR’TS
BOSTOH.
FROM
Since
This
week.
New Orleans..
3,851
Texas
Savannah
Mobile
Florida
S’th Carolina
NHh Carolina.
1,282
1,702
Virginia
3,283
1,261
MALTXMORB.
Since
This Since
This
Sept 1. week. Septl. week. Septl. week. Septl
•
73,723
100,398
120,135
...
313
Since
This
raXLADSLP*IA
15,832
82,828
32.313
•
•
5,455
....
349
1,152 2d,953
•
•
•
•
•
•
•
•
•
•
•
•
•
•
....
...
42
19,468
•
•
•
•
....
•
•
•
•
•
•
•
•
•
•
•
•
•
•
....
•
•
•
•
....
•
•
•
•
....
•
•
•
....
....
100
1,208 40,175
Northern Port?
381
Tennessee, *c
Foreign.
3,914
127,517
6,176
124,748
1,213
3,799
Total this year
17.2S0
687,419
10,153 224,812
Total last year.
13.274
674,180
6,073 242,945
4,080 88,435
3,7 3 63,657
....
73
...
•
...
7
•
•
•
•
•
•
•
*
•
•
•
•
38,001
.
•
•
•
•
•
•
•
•
864
16.923
89
12,219
1,494 44,264
4
1,815 89,249
....
....
•
•
•
•••
.
.
....
10,000
....
2,194 53,788
2,489 121,412
48,721
1,651 117,595
1,753
the United
week, as per latest mail returns, have reached
Weight of bales—Bombay and Kurrachee, 392 lbs.; Carwar, 380 lbs.; 78,963 bales. So far as the Southern ports are concerned, these
all the others. 300 lbs.
are the same exports reported by telegraph, and published in
We have the result from these figures that the whole of India The
Chronicle, last Friday. With regard to New York, «e
include
the manifests of all vessels cleared up to Wednesday
exported only 889,359 bales in 1878, against 969,487 bales in
of
this week.
night
This
1877.
year, as was the case at this time last year, a con¬
Total bales.
siderably increased supply from ports other than Bombay is Nsw York—To Liverpool, per steamers Marathon, 5....Italy, 719 and
29 bea Island.... City of Brns-eis, 100.... per ship Anyone, 1,030..
1,883
promised. But do not the foregoing table and the experience
Total, all Europe.. 1,534,833 1,650,542 1,234,851
969,487
889,359
Shipping
News.—The exports of cotton from
States the past
258
THE CHRONICLE.
[Vol. XXVIIL
t
Cotton
N*w York—To Havre, per steamer Amerique, 148
148
371
950
To Bremen, per steamer Khein, 371
To Barcelona, per steamer Vidal 8ala, 950..
New Orleans—To Liverpool, per steamers Northumbria, 3,367
City
freights the past week have been
Satur.
Liverpool, steam d.
do
To Havre, per ship Prussia, 4,588.
To Rouen, per steamer Bute* hire, 71
To Marseilles, per steamer Cal dera, 559
To Amsterdam, per bark Saga, 2.C21
4,538
71
TO Barcelona, per steamer Caldera, 1,953
To Genoa, per bark Louisiana, 475.
.
To Bremen, per b ig Heinrich, 910
Charleston—To Liverpool, per barks Annie Williams, 1,879 Upland
Dona Talesfora, 1.600 Upland and 9 Sea Island
...
To Barcelona, per brig Joven Miguel, 925 Upland
Port Royal—'To Liverpool, per bark Neptun, 2.U75.
Savannah—To Liverpool, per ship C. B. Hazeltine, 2,973
bark Agra, 2,2‘ 0 Upland
To Reval, per ship Protector, 2,2)5 Upland
To Malmoe, per bark Emerald, 1,500 Upland
Texas—To Havre, p r bark Palco. 1,393
To Bremen, per brig Augusta. 1.104
Wilmington—To Liverpool, per brig Diana, 1,323
Baltimore—To Liverpool, pzr steamers Cuban,
"
(additional) 15S
Boston—To Liverpool,
Brazilian, 191.
..
3,188
.per
5,173
2,205
1.500
1,393
1,104
1,323
.c.
sail
c.
Amst’d’m, steam
do
sail..
Baltic, steam
do
*
.
Philadelphia—To Liver poo', per steamers Indiana, 510... Timor, 528.
4C8
1,038
7?,968
The particulars
are as
of these shipments, arranged in
oar asaal form,
follows:
Marseilles
Amsand
Bre- terMai- Barcepool. Havre. Rouen, men. dam. Reval. moe. Iona. Genoa. Total.
371
950
148
New York... 1,883
3,552
6)0
475 51,851
New Orl*ne. .40,644 4.538
2,Oil 1,590
1,953
910
*.
Mobile.
l,5t6
2,476
925
Charleston.. 3,488
4,413
2 075
Port Royal.. 2 015
Savannah..
2,205 1,503
8,878
5,173
Liver-
•
•
•
....
•
•
•
.
«
•
•
Wilmington. 1,822
Baltimore....
Boston
653
408
•
•
•
....
...
•
•
•
•
•
•
•
•
Philadelphia. 1,058
Total.... 16,689
•
•
•
....
•
•
•
....
•
•
•
•
•
•
•
•
7,645
•
•
....
•
•
...
....
630
•
•
•
....
«
....
....
....
....
....
2,395
•
•
....
2,021
•
•
•••
....
•
•
....
•
•
•
•
•
•
•
•
•
•
.
.
.
•
•
•
.
,
.
.
p
•
m
2,497
•
1,822
....
•
....
•
....
•
•
•
•
....
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
....
•
•
•
•
•
•
....
3,795 1,500
3,828
475
658
4C8
1,038
78,969
give all news received to date of disasters to vessels
carrying cotton from United States ports, etc.:
Below
we
Alyah, steamer (Br), at Liverpool
weather during the passage.
Feb. 17, from Boston, reports heavy
Bjun, steamer (Br.), from Ne w York, and Bulgarian (Br.), from Boston,
were in collision while docking at Liverpool Feb.
26. Both were
damaged.
Castlewood, steamer fBr>, Miller, from Charleston for Reval, which was
towed into B rmuda Feb. 7 with loss of propeller, remained at the dock¬
..-.®*2
yard ‘.J0th, refitting.
pool, which put back to the former port on the 28th, resumed her voy¬
age Feb. 27, havii g received new rudder post and rudder.
City or Limerick, steamer (Br.), Lochead; from New Orleans with a cargo of
6,486 bales of cottou for Liverpool, drawing 23 feet 8 inches of water,
went aground March 1. at the head of South Pass. She was off the bar
the 3rd »nd moored to the bank above the Passes.
a
The number of bales landed and stored at Earnout was 1,886.
Wilmington, had foretopmast
stern knocked in and steering gear
AMEA, bark (Ger.), at Liverpool Feb. 11 from
maintnpgullant carried away,
damaged during a gale.
Bridgeport, bark, Morgan, at Providence Feb. 24 from New Orleans via Key
West, where she put in for repairs, &c., had heavy weather during the
entire passage from Key West, encountered two gales, carried awtfy
parcle of maintopsailyard, lost topsails, shifted and stove cargo of
]BOl&6666<
Orleans for Liverpool with
8,820 baies cotton, put into East Bay March 3 leaking badly, having been
David Malcomson, bark (Br.), Morrow, from New
In contact with an obstruction tt the head of the Passes while in tow
on the 1st.
Enrique, bark (Arg.), Payson, at Liverpool Feb. 26 from Norfolk, was leak¬
ing badly.
King Arthur, (Br\ The Liverpool Salvage Association reported 421 bales
and two halves landed up to Feb 18 from the bark King Arthur (Br.),
from Charleston for Liverpool, ashore at Bannow, before reported
Bark Othere (Br.), Wilson, from Havre, at Savannah Feb. 23,
Feb. 20.
reports having passed a bale of cotton in the Gulf Stream on Feb. 20,
ahont lat. S9 ion. 76; appeared to have been only a short time in the
•water,
...®1g
c.
....®... ....®... ....®... ....®.
-
»-
-
....®68
.-..'©Sg
.
®716 ....®716 ....®716 ---•'®7ie ....®716
d.
Compressed.
Liverpool.—By cable from Liverpool,
we have the following
sales, stocks, &c., at that port:
Feb. 14.
Sales of the week
bales.
Feb. 21.
44,000
6,000
35,000
4,000
2,000
458,000
335,000
95,000
82,000
4,000
379,000
327,000
Forwarded
Sales American
Of which exporters took
Of which speculators took..
Total stock
Of which American
t
Total import of the week
Of which American
Actual export
Amount afloat
Of whioh American
Feb. 28.
39,000
9,000
32,000
4,000
Mar. 7.
48,000
46,000
9,000
36,000
3,000
8,000
38,000
4,000
2,000
3,000
503,000
379,000
92,000
85,000
6,000
516,000
390,000
357,000
-387,000
303,000
336,000
3,000
556,000
427,000
94,000
81,000
7,000
380,000
313,000
64,000
54,000
2,000
The tone of the Liverpool market for spots and futures, each
the week ending March 7, and the daily closing prices of spot
have been as follows:
Saturd’y. Monday. Tuesday. Wedn'sdy Thursd’y
Spot.
Market,
12:30 p.m.
\
J
Mid. Upl’ds
Mid. OiTns.
Market,
5 p.m.
)
Easier, hut Dull and Mod’t* In¬ Tending
not quotadown¬
quiry free¬
easier.
ward.
bly lower.
ly supplied
5%
5*2
B?S
day of
cotton,
SS
Friday.
Fair busi¬
Dull.
ness at pre¬
vious
Sfc
pr’cs
Ss
5716
•
—
—
—
j
Sales
7,000
1,000
5,000
Spec. <& exp.
500
8,000
1,000
Unch’ug’d Unch*ng’dl
7,000
1,000
7,000
8,000
1,000
1,000
Futures.
Market, l
5 P.M.
\
Qal?t bat
steady.
Dull.
Dull.
Quiet
bntj
Dull.
steady.
The actual sales of futures at Liverpool, for the same week, are given
below. These sales are on the basis of Uplands, Low Middling clause,
unless otherwise stated.
Saturday.
Delivery,
April-May
May-June
June-July
Delivery.
d.
51*32 July-Aug
5^2 Aug.-Sept
5716
Delivery.
Delivery.
5&16 I June-July
5Bia
July-Aug
51*32 I Aug.-Sept
She had lost her
propeller and would probably be towed back to New Orleans.
Guillermo, steamer (1,793 tors of Bilboa), Lazzuraga, from Baltimore Feb.
17 with l,m 8 bales of cotton for Jiverpool, collided A. M. March 2, four
miles eouth of the Skerries, with the steamship Istriao, from Liverpool
for Bos od, to )k fire and sunk. Caprain and 31 of the crew rescued and
landed at Liverpool; others are miseii g.
Kate. (Br).—Steamer Canima (Br.), at New York Feb. 25 from Bermuda,
brought the remainder of the cargo (cotton) which had been saved from
the wrecked steamer Kate (Br.), from Galveston for Havre, before
reported.
Mikado, steamer (Br.), from Naw Orleans for Liverpool, drawing 21 feet 11
inches of water aft, and 19 feet 7 inches forward, was aground March 3
in the jetties across the channel above Crane Island, Port Eads. She
was working down into shoal water.
Oberon, steamer (Br.), from New Orleans for Liverpool, before reported
towed to Qa» eostown Feb. 7, was at Liverpool Feb. 2?.
'Buevia, steamer (Ger.), from New York for Hamburg, in going to sea Feb.
27, grounded half way between the West Bank and 8andy Hook at B: -5
P. M., where she remained until the rising tide floated her, when she
proceeded to sea, passing Sandy IIo >k at It: 10 P. M., the same day.
Eastern Empire, ship (Br.), which cleared from New Orleans Feb. 21 for
Liverpool, was founo, on attempting to move her, to be short of ballast,
and on March 1 was discharge a portion of her cargo in Order to get
on board the necessary amount of dead weight.
She would probably
proceed cn her voyage in a few days.
Kate Davenport, ship, at Havre, Feb. 6, from Mobile, reported: Experienced
severe weather during a portion of the passage
Had a gale on the 4th
January, washing away the starboard side light.
Martha Cobb, ship, Greenbank, at Havre Feb. 15 from New Orleans, exper¬
ienced very heavy weather all the passage, gales of wind from a:l quar¬
ters of the compass: lost sails and sprung foreyard. In entering the
harror, fouled the Wolf (L & S. W. K. Co.’s steamer), which was
moored alongside the quay, and sus ained slight damage to bowsprit
and jibboom.
Algeria, bark (Br.), Robinson, from Savannah for Amsterdam, before
reported, had about 2f0 bales of cotton on board when she was floated.
and
.
.-..®®8
City of Chbbter, steamer (Br.), Brooks, from New York Jan. 25 for Liver¬
on
...®3&*
.
....
•
.
c.
d.
sail
....
•
..®*4
.
**2®916 *12®916 **fl®916 **fl®916 **2®9le *hr®9i8
*532®12 1632®12 1532®13 1B32'©12 1B32®1fi 1532®12
*9i6® ®8 *916® ®8 *916® ^ *916®®8 *916‘®88
statement of the week’s
...
....
....
•
.
•
1,104
•
•
.
•
•
•
•
.
•
1,393
Texas
•
•••
,,,,
....
.
Fri.
...
....
Total
Thurs.
....®*4
...
500 ...Polynesian,
Mary Louisia, (additional) 217
Wednes.
....©Sg* ....®*58 ....®°8*
"2) *fl
.®*2
e.
Ham burg, steam. c.
do
sail ...c.
do
follows:
316®732 316®732 316®732 316®732 316®732 316'®732
c.
sail
1,958
658
per s.eamers
do
Bremen, steam,
925
2,075
Upland
Havre, steam
Tues.
....'@34
sail., d.
559
3,021
475
1,566
910
Mobile—To Havre, per bark Eidsiva, 1,566
Mon.
as
d.
Shipment,
d.
I
5*u j Jan., new crop,
5i732
Bail
53s
Monday.
Mar
Mar.-April
Apr.-May
I
57ig
5*g
Delivery.
8ept.-Oct
May-June...
51932
5*832:
5i732
Tuesday.
Delivery.
Mar
Delivery.
I
Delivery.
56ie j May-June
5%
5*332 July-Aug
Wednesday.
Delivery.
Mar
Mar.-Apr
Apr.-May
Delivery.
Delivery.
May-June
5516
6Bie June-July
5 “32 July-Aug
5%
57ie
Apr.-May
5l632 Feb.,
Shipment.
new op.
5&ie
sail.5%
Thursday.
Shipment.
Delivery.
Delivery.
Mar.-Apr
Apr.-May
July-Aug
5932
5Bie
Mar.-Apr
Mar
5516
June-July
April-May
51&32 May-June..
55ie
5**32
Feb.-Mar., n. crop,
sail
5%
538
57i6
Friday.
Delivery.
Mar
Mar.-April
Apr.-May
May-June
59i6
Delivery.
April-May
June-July
5*2
Aug.-Sept——51*32
Delivery.
511,32 Oct.-Nov
5**32 June-July
July-Aug
59s
51632
51 *32
57i6
5*832
BREADSTUFFS.
Friday, P. M., March 7, 1879.
steady and general demand for flour, but it
freely met by receivers, who not only sold promptly on
arrival, but were inclined to reduce stocks in store, in view of
the] approach of warmer weather ; prices have therefore sympa¬
thized but little with the upward course of values for wheat. The
There lias been
a
has been
grades have been good medium qualities, suitable
South American markets, for which the
call has continued brisk in the range of $4 7o@$5 50. The
common extras for the British markets have been quiet.
To-day
there was a fair export demand, but the home trade was quieter-]
The wheat market has been active at buoyant values, with No.
2 red winter still leading in the demand. There has been an ac¬
tive speculation at the West, which has carried up prices, and
better foreign markets have.enabled shippers to go on at the em;
most active
for the West India and
March
THE CHRONICLE.
8,1870.]
hanced values.
Yesterday the sales
large, including No. 2
$1 16@fl 17 on the spot, and $1 17f@$l,18£ for
April and May ; No. 2 amber, $1 15^<g$l 16, spot and March, and
$1 16@$1 16£ for April ; No. 1 white, $1 14@$1 15, spot and
March, and $1 16@$1 164 for April, and $1 17@$l 174 f°r May.
Spring wheat sold at 96@99c. for No. 3, and 849854c. for re¬
jected. The market tq-day opened lc. lower, in sympathy with a
sharp re-action at the West ; but partially recovered, with a large
business in No. 2 red winter at $1 16£@!$1 174.
Indian corn lias been variable, but yesterday was active and
buoyant. Large purchases were reported at the West for through
shipment to Great Britain. No. 2 Western mixed, 45f@464c. on
the spot, the higher figure for old; 46£@46£c. for April and
47|@47£c. for May; steamer mixed sold at 45@45fc. for March
and April and 46c. for May. The receipts continue large at the
Western markets. There was a firmer feeling to-day, but most
decided in the lower grades, steamer mixed selling at 45£(5'45£c.
Rye has met with a fair demand and sold it 62@63c. for prime
Western and State.
Barley has been less active, but the visible
supply is considerably reduced, and holders maintain prices with
considerable firmness. The season may, however, be said to
have been a,very unfavorable one to those who
engaged in mov¬
ing and disposing of the crop.
Gats have been active, but without further improvement in
values. No. 2 Western mixed has been sold
pretty freely at 34$@
35c., the inside figure for March arrivals. The market today
was quiet, with No. 2 graded
quoted at 344c. for mixed and 34£c
wer6
red winter at
for white.
The following are
closing quotations
Flour.
No. 2
Wheat-No.3 spring,bueb. $0 96®
98
No. 2 spring
1 06® 1 08
Rejected spring
85
83®
Bed and amber winter 1 10®1 17#
Red winter No. 2
1 16#®1 17#
White
1 09® t 17
Cor n—Weet’n mixed,.... 44tf® 46#
do
N't. 2, new
46®
..
3 40® 3 75
ern
State, &c
spring
Western
3 85® 4 CG
wheat
extras
do XX and XXX
do winter shipping ex¬
'3
4
80® 4 10
25® 6 25
4
10® 4 65
•
tras
do
XX and XXX..
Minnesota patents
4 75® 6 25
5 75® 8 50
City shipping extras
4 00® 5 25
mily brands.
Southern shipp’g extras.
Rye flour, superfine
Corn meal—Western,&c.
5 00® 6 50
4 35® 4 85
Southern bakers1 and fa¬
do
yellow Southern
Rye—Western
new.
•
•
_
33®
37
85® 1 05
85
80®
72
67®
90
72®
State, 4-rowed
State, 2 rowed
2 20® 2 50
2 75® 2 80
•
52
46®
47
45®
60® 62#
63
61®
35
32®
State and Canada
Oats—Mixed
White
Barley—Canada West....
3 00® 3 25
Corn meal—Br wine, &c.
white
Peas—Canada bond&free
Receipts at lake and river ports for the week ending March 1,
1879, and from J&n. 1 to March 1, and from Aug. 1 to March 1.
Flour,
Wheat,
bbls.
At—
bush.
(196 lbs.)
2,020
26.893
228,003
169,20)
459.068
2,750
7,250
148,775
100
5.386
....
.,
Duluth,
bush.
(60 lbs.)
304,793
271,410
56,822
205,359
17,600
24,050
52,205
Milwaukee.
Toledo
Detroit.
Cleveland.
•
•
•
•
•
•
(56 lbs.)
1,091,242
1,015,527
993,724
717,910
865,065
TotAug.l toMar. 1.3,825,427
Same time 1878-8.. .3,766,118
8ame time 1876-7....3,361,083
Same time 1975-6. ...2,999,305
10.095,531
..
Barley,
bush.
Rye,
bush.
(32 lbs.) (48 lbs.) (56 lbs.)
198,208
.30,847
20,044
19,608
22,730
19,608
6,003
346
2.835
425
10,801
10,400
101,713
23,937
7,603
56,450
11,000
12,600
691,279
22,710
242,369
7,900
1,744,301
1,366,347
1,063,570
1,636,445
Corresp’ng week,’78.
884,063
Gorresp’ng week,’77.
393,?52
Tot Jan.l to Mar. 1...1,001,071 10.785.370 12,473,471
Same time 1873
Same time 1877
Same time 1876
Oats,
bush.
•
113,001
114,352
•124,930
78,609
Previous week
Corn,
395,222
276,706
324,433
143,273
381.429
39,122
102,252
42,081
525, e 26
430,539
415.528
3,024,359
3.M95.088
2,343,154
3,044,0.^0
19,885,339
15,5 6,645
13,367,341
17,287,290
8,5/5.962
8,663,441 10,838,735
6,451,175 10,607,810
68,8:4,231 52,539,866
63,490,8/2 43,615,578
32,458,454 49,4*8,636
44,550,150 29,9*2,945
99,368
60.829
44.828
87,826
1,215,056
1,590.586
1,117,118
1.558,857 241,217
8,256,e32 1,482,169
8,079,396 2.457,356
7,586,968 2,193,012
6,089,371 1,500,600
Shipments of flour and grain from Western lake and river
ports from Jan. 1 to March 1.
Flour, Wheat,
Corn,
Oats,
Barley,
Rye.
bbls.
Jan. 1 to Mar. 1
Sams time 1878
Same time 1877
Same time 1876
Rail
bush.
bush. ‘
bush.
1,076,967
4,223.134 5,971,991 2,052,285
8,415,032 5,516,243 1,779,263
653,836 1,338,025 5,104,131 1,2*9.414
923,026 2,691,805 6,785,771 1,603,029
973,802
shipments of flour and grain from Western
ports.
Week
ending—
March 1, 1879
March. 2, 1978.
March. 3, 1877
March. 4, 1876
Flour,
bbls.
154,733
129,823
Wheat,
bush.
499,599
Com,
Oats,
bush.
bush.
871,098
265,788
269,030
198,770
240,957
c 60,237
713,877
153,447
118,038
876,095
409,339
1,196.811
827,115
«
bush.
bush
814,816
219,2 8
820,305
567,719
584,258
2*3,8i4
155,867
142,637
lake and river
Barley,
Rye,
bush.
76.836
89;88l
bush.
14,154
53,212
,
58,035
72,718
29.76:3
16,400
Receipts of flour and grain at seaboard ports for the week end¬
ing March 1, 1879, and from Jan. 1 to March 1.
At—
New York
Boston...
Portland...
Montreal
Philadelphia
Baltimore
New Orleans
Flour,
bbls.
Wheat,
bu-h.
Corn,
Oats,
bush.
bush.
128,373
916,360
646,678
37,938
5,047
121,456
79,690
236,900
38.450
117,600
11,433
1,5H0
2,200
475
221
15,160
17,594
193,000
365,300
364,100
7,004
51,600
3,941
40,064
717,500
298,169
21,600
23,844
Barley,
Rye,
bush.
bush.
31,250
7,yco
23,706
•
•
•
•
3,000
7,500
p
•
•
m
....
7.500
1,500
....
'
Total
219,486 1,771,289 2,266,268
Previous week
201,5 s i 1,419,858 2,414,5:0
Corresp’ng week,’78. 136,365 1,653,182 1,456,395
Tot. Jan. 1 to Mar. 1. .1,603,053 12,015,991 11,500.695
8ame time 1878
1,464,653 11,988.233 15,139,623
Same time 1877
1,158,255 1,250,595 11.688 603
Same time 1876..,, 1,569,082 2,939,505 12,990,004
^
269,154
49,850
319,325
276,843
50,625
211,780
32,706
36,1:50
91,156
2,337,290 811,369
2,123,944 1,338.016
2,219,685 639,437
259,626
184,132
2,489,442 1,210,101
51,070
302.213
Flour,
From —
New York
Boston
bbls.
Montreal
© ©
Philadelphia
Wheat,
545,331
501,133
90,763
4,651
117,600
Oats,
bush
3,7.'5,
Rye,
bu-h.
>6,211
2,170
Peas,
oush.
j
3,766
5,200
®
254,169
10,832
344,774
83,535
111,807
109,017
70,765
1,396,314
1,102, *57
Baltimore
Total for week..
Previous week
Two weeks ago
Same time in 1878...
bush.
1,930
.
Corn,
bush.
65,203
6,474
4,047
Portland'.i.
1,266,525
1,149,419
465,21C
559,940
76S
1,627:057
1,995,919
.4,697
1,815,059
1,467,836
24,359
16,212 ••
‘
•
6,703
....
16,291
105,81s
189,158
76,338
8.966
42,-371
4
38 278
53,0721
THE DRY GOODS TRADE.
Business
was
because the
Friday, P. M., March 7, 1879.“*;..'
irregular the past week with the package houses,
weather
was
unfavorable for the distribution of
descriptions of spring fabrics, and transactions were conse¬
quently restricted in a measure to the most staple goods. There
was a continued
steady movement in cotton goods (partly on
account of former orders), but woolen
goods were relatively quiet,
and there was a light and
unsatisfactory demand for printed cali¬
many
One of the most
coes.
was an
prominent features of the week's business
auction sale of Florence Mills
coatings and fine woolens*
brought together a large company of buyers, and the
entire offering (about 1,500 pieces) was closed out at
good average
prices. The jobbing trade was a trifle more active, and fair quantities of staple goods, &c., were distributed by the leading
firms, but there was no real snap to the demand, and many retail
buyers are evidently deferring their purchases until the weather.which
becomes
Grain.
# bbl. $2 50® 3 25
Superfine State & West¬
Extra
:
Exports from United Stages seaboard ports and from Mmtreal
ending March 1, 1879.
for week
warmer.
Domestic Cotton
Goods.—Among the exports of catton goods
markets during the week ending Majch.^
Great Britain, 212 to U. S. Of Colombia,
from this port to foreign
4 were 1,133 packages to
81 to Danish West
Indies, 69 to Brazil, 53 to Dutch West Indies,
&c., and the total shipments for the week were 1,639 packages.
There was a steady demand for brown and bleached
goods (with liberal deliveries on back orders), and prices ruled firm,
owing to
the meagre iupply of leading makes in the hands of manufactur¬
ers’ agents. Fine bleached shirtings had an upward look, and an
advance of £c. per yard was made on New York Mills, Fruit of.
the Loom lOOs, &c. Cheviots were fairly active, and denims,
ducks, ticks and corset jeans were taken in small parcels to a
fair aggregate amount.
Cottonades were in irregular demand,
and
outside makes
were
in
offered
at low
figures
materially increasing their sale. Prints have been very^.
quiet for the time of year and a few makes wero offered with
extra discounts, &c.,
in order to quicken their movement.
Ginghams were rather sluggish, and the stock'of Amoskeag dress
styles was closed out to a large jobbing house, who reduced the
goods from 10£ to 9c. Print cloths were more active and in the
face of large sales prices stiffened a little. Extra 64x64 cloths
were sold at from 3 3-16c., less 1
per cent cash, to 3 3 16c., cash,,.
standards at 3£c., cash, and 56x60s at 2fc., cash.
Domestic Woolen Goods.—There was a very limited demand
for men’fc-wear woolens by the clothing trade, and their pur¬
chases were almost wholly confined to small parcels of - light¬
weight fancy cassimeres and cheviots actually required for. the;
renewal of assortments.
Fine fancy cassimeres and suitings
adapted to the wants of cloth jobbers were relatively in better
request than the lower qualities, and fair quantities of leading
some
cases
without
makes
were
delivered
on
former orders; but transactions were
only moderate iu the aggregate. Kentucky jeans have as a rule
been quiet, anl selections were chiefly confined to small parcels
of the most popular jeans and doeskins. Overcoatings were inexceptional cases sought for by early buyers, but very few sales
were
reported. Satinets ruled quiet, and tweeds and cash" '
merettes continued in light request.
For worsted and woolen
dress fabrics there was a steady inquiry, which led to a fair
business ; and worsted and Shetland shawls exhibited more aui-.
mation.
Foreign Dry Goods.—There
was a
fair movement in the most
staple goods, but fabrics strictly adapted to spring and summer
wear remained quiet
because of the stormy condition of the.
weather in many parts of the country.
Fine dress silks were
lightly dealt in, but low to medium grades met with considerable
sales. Cashmeres, beiges, camels’ hair cloths, &c., were in mod¬
erate demand, but grenadines and light fancy dress fabrics cons
tinued sluggish, as were printed lawns, organdies, &c. Linen
goods were in fair request, and white goods, Hamburg embroi¬
deries and laces were sought for in moderate quantities. Millin¬
ery goods and ribbons were in moderate demand, but by no meanactive.
"
-
'
jp
hi un tHn matm fli Hi-yifr-t ■“t****-** ■
“—A-“ L“'u ■ vwut—j **«<.> j «
rr
UNION TRUST CO.
CAPITAL,
FACILITIES FOR
HAS SPECIAL
St.
$1,000,000.
•
ACTING AS
Executor, Administra¬
Trustee, and Is 47
LEGAL DKPOSITOBY FOB MONEY.
Interest allowed on Deposits, which may be made
Authorized by law to act as
tor, Guardian, Receiver, or
time.
this Institution pass
and withdrawn at any
N.-B.—Checks on
through the
EDWARD KING, President.
Clearing-House.
International Bank of Hamburg
London, (Limited.)
HOUSE
IN EUROPE,
JOHN
BERENBERG, GOSSLBR
E. B. Wesley,
G. G. Williams.
The
Brooklyn Trust Co.
Cor. of Montague & Clinton
This Company
as
sts., Brooklyn, N. Y.
act
adminls*
is authorized by special charter to
receiver, trustee, guardian, execuior or
t rater.
It can act as ageHt in the sale or management of real
estate, collect interest or dividends, receive registry
anf transfer books, or make purchase and sale oi Gov*
erna. tnt aid ether securities.
Religious and charitable institutions, and persons
unaccustomed to tne transaction of business, will find
this Company a safe and convenient depository for
RIPLEY ROPES, President.
money.
CHAS. R. MARVIN,
Rugae M. Cullen, Counsel.
Vice-Pres t.
Henry Sanger,
Alex. McCue,
Chas. R. Marvin, A. A. Low.
Thomas Sullivan, Afom. B. Baylis, Henry K.Sheldon
H.E. Pierrepont, Dan’IChauncey, John T. Martin,
Alex. M. White.
Joslah O. Low, Ripley Ropes,
Austin Corbin,
Edmund W. Corlles.
Wm. R. BUNKER.
Railroad Bonds, and
Secretary
STOCKS and BONDS
At Auction.
hold REGULAR AUCTION
undersigned
BONDS,
AND
OK
WEDNESDAYS AND SATURDAYS.
COR.
We hold oar Regular
STOCKS
43
No.
Pine St., New
BROADWAY,
145
YORK.
NEW
CITY RAILROAD STOCKS &
Prentiss,
H.
Buy and
Sell Investment Securities.
A M. Kidder. C. W.
30 BROAD STREET.
<
GAS
A
STOCKS
2,647.
E.
S.
7
Bought and Sold
Bailey,
PINK STREET.
Dealings In
Insurance
A
Stocks
Gko. Wm.
••
W. Trask.
.
available
Foreign
by Tele¬
Gives special attention to Gold and
graph and Cable.
Silver Bullion and Specie, and to California Collec¬
tions and Securities; and arranges to pay Dlyldenda
on such securities at due dates.
PAYNE A SMITHS,
Bankers, London, SMITH,
UNION BANK OF LONDON,
do
New York. The
de
BANK of NEW YORK, N.B.A.
George H. Holt,
Member N. Y. Stock Exchange.
Geo. W m.Ballou&Co
STREET,
72 DEVONSHIRE
ST.,
The Bank of
IN
California, San Franclseo.
Gold, $5,000,000.
Capital, Paid up in
WM. ALVORD, President. THOMA3 BROWN,
B. MURRAY, Jb., Asst. Cashier
Casht
Laidlaw & Co.,
Boston,
York,
New
j- Agents.
and Travelers’ Credits
part of the world. Draws Exchange,
and Inland, and makes Trans.era of Money
In any
Bankers.
Ballou.
BANKERS,
*
OF CALIFORNIA,
No. 12 Pine 8t„ New York.
Reeelve deposits and transact a general banking
business; execute orders at the N. Y. Stock Exchange
for Stocks, Government, State, Municipal and Rail¬
AGENTS FOR THE BANK
Municipal Bonds.
Loan & Trust
No.
Company,
POST OFFICE SQUARE,
18
BOSTON.
Chartered
CAPITAL,
1870.
In
-------
$500 000.
STEPHEN M. CROSBY.
GEO. WOODS RICE.
President.
Loans made upon ttms on
either upon bills of Lading or
Exchange of
for entire loans allowed.
Allow Interest on all
Treasurer
Staple Merchandise
payments made before
maturity of loans.
CORRESPONDENCE SOLICITED.
F. H.
BANKER
No.
7
Peck,
AND
BROKER,
PLACE,
EXCHANGE
■’
BOSTON.
C. C.
STOCK
SIMMONS*
Jackson,
BROKER,
road Bonds and Gold.
Particular attention Riven to the pur¬
chase and sale of
hining Stocks In San
Francisco, fur which we have the heat
facilities; also ail other California Securities.
Issue Bills of Exchange. Letters of Credit and Tele¬
graphic Transfers on London, Yokohama, Shanghai,
Hong Kong? Honolulu, Virginia City end San Fran¬
cisco.
,
■
1
T
•
-
■■
-
■
THE
Anglo-Californian Bank
(LIMITED).
LONDON, Head Office,
SAN
3 Angel Court.
FRANCISCO Office. 422 California St.
NEW YORK Agents,
J. AW. Seligman A Co.
Authorized Capital,
Transact
a
-
$6,000,000.
-
1,700,000.
general banklnglbusiness. Issue
mercial credits and /Bills
all parts
-
and Reserve,
Paid up
Com¬
'.ofiExchange, available in
Collections and orders for
of the’ world.
executed upon the most favor¬
FRED’K F. LOW,
? Maniwprs
Bonds, Stocks, etc.,
able terms.
P. N.
IGNATZ STEINHART,*
LILIENTHAL, Cashier.
Mana«ers*
BUILDING,
Southern
Bankers.
Boston, Mass.
Chas. A. Sweet & Co.,
BANKERS
40 STATE
SPECIALTY.
paid at once for the above Securities
Will be sold on commission, at seller’s optlo
Cash
McLellan, Jr.
Boston
SPECIALTY.
Brooklyn Securities
C. T. CHRISTENSEN,
do
^
Room 23.
Gold.
3.500,000
Bonds)
GEORGE L. BRANDER,
of STOCKS and BONDS for
BONDS
quotations of City Railroads In this paper.
Geo.
U. S.
the purchase and sale
cash or on margin.
BOUGHT AND SOLD.
See
Capital, paid up.,.. $10,000,000
Surplus, (invested in
Warehouse Receipts.
Collateral, or prepayments In parto
L. Grant,
H.
No.
York.
62 Wall Street. *
New York Agency,
Banking Business, including
THURSDAY,
§3?“ Our Established Days 28 Years, .Jgi
Or Special Sales on other days when required.
CO.,
FRANCISCO.
SAN
OF
Transact a General
ETERI MONDAY AND
ALBERT II. JV’ICOI.AY &
Bank
Nevada
The
Massachusetts
BONDS
and
City
Western
California Banks.
AND BROADWAY,
OF WALL STREET
BANKERS AND DEALERS
Auction Sales of all classes frf
AND
Buy and Sell
Issue Commercial
AUCTION.
AT
DEVONSHIRE STREET
78
BANKERS,
PINE STREET. NEW YORK.
Stocks and Bonds
Stackpole,
Parker &
BANKERS,
hams.
County Bonds.
JLJULfG^
<& Co.
8 WALL
ALBERT H. NICOLAY, Auctioneer.
Board
BOSTON,
Indianapolis & Vincennes Bonds.
Rome Watertown & Ogdensburg lsts.
New Orleans Past Due Bonds.
New Orleans St. Louis & Chicago Bonds.
SOM,
ADRIAN II. MULLER 4c
No. 7
Investment Securitiesconstants on
Securities,
Southern Securities of
Southern Railroad Bonds, all kinds.
Toledo Logansport & Burlington Bonds.
Kansas Pacific Railroad Bonds.
Union & Logansport Bonds.
SALES of all classes of
STOCKS
YORE,
Descriptions.
all
Commission at Broken
Auctions,and Private Sale.
IN
DEALS
Investment
First-Class
P. O. BOX
-
paper.
STREET, NEW
WALL
18
Gold and Commercial
Dealers In Stocks, Bonds,
New York.
J.S. Rockwell,
John P. Relfe,
The
Sc CO
Albert E. Hachfield,
TRUSTEES:
-
Bostons Mom.
,
Secretary.
J. H. OGILVIE,
CONGRESS STBBBT,
35
No.
WANTKD.
COMMITTEE.
Samttkl Willktb,
Wm. Whitewbight,
Geo. Cabot Wabd
J. M. McLejln,
Augustus Schell,
and
Orders executed on
J. M. McLean, 1st Vice-President.
Wm. Whitewright, 2d Vice President.
EXECUTIVE
Brewster, Basset & Co.,
BANKERS,
HAMBURG.
Registrar of Stocks.
*
Co.,
Gossler &
and
Transfer Agent
*
70 State Street
oobbesfomuemts of
Broadway, Cor. Bector
No. 73
BOSTON.
NEW YORK,
134 Pearl Street.
YORK,
NEW
Boston Bankers.
Financial.
Financial.
OF
[YOb. XXVffi.
CHRONICLE.
THE
260
DEALERS IN
BANKERS
AND BROKER8,
BALTIMORE.
STREET, BOSTON.
GOVERNMENT SECU.UTEES, Gold
State,City, County and Railroad
Wilson, Colston & Co.,
Bondf.
SECURITIES a
information fur¬
nished.
N. Y. Cobbbbfondbhts—McKlm Brothers * Co.
INVESTMENT and VIRGINIA
specialty.
Correspondence solicited and
@FedFRASER