Full text of Commercial and Financial Chronicle : May 1, 1897, Vol. 64, No. 1662

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VOL. 64.

SATURDAY, MAY 1, 1897.

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W I L L I A M B . D A N A C O M P A N Y , P u b l i s h e r 's
P in e S tre e t, C o rn e r o f P e a r l S tre e t,

P o s t O ff ic e B o x 958.

New Y ore...........
P h iladelph ia....
Pittsburg............
Baltimore...........
Buffalo................
W ashington.......
Rochester...........
Syracuse.............
S cra n to n ..........
W ilm ington.......
Binghamton. .. .
T otal M iddle..
B oston............ ..
Providence............
H artford................
New H a v e n .........
Springfield. ...........
W orcester..............
P o rtla n d ..............
Fall R iver.............
L ow ell...................
New B e d fo rd ......
Total New Bng..
Chicago..................
Cincinnati.............
D etroit...................
Cleveland..............

Milwaukee......... .

Colum bus.............
Indianapolis........
Peoria....................
T oledo....................
Grand Rapids.......

Dayton......... —...

NEW YO RK .

L exin gton.............

Saginaw................
Kalamazoo............
A kron.................

Bay City................
C L E A R IN G H O U S E R E T U R N S .
Rockford..............
Ohio..
The following table, made up by telegraph, etc., indicates Springfield,
Canton........... . . ..
that the total bank clearings of all the clearing houses Tot. Mid. W est’ r
o f the United States for the week ending to-day, May 1,
San Francisco..
have been $9-8,766,645, against $959,297,941 last week and Salt
Lake City..
$1,078,290,031 the corresponding week of last year. The Portland...........
Los A n g e le s....
decrease is in part due to the holiday on Tuesday at New Tacom a.............
Seattle..............
York.
W ee k E n d in g M a y 1.

CLBABIVOS.
R e tu rn s

b y 'le le y ra p h .

1897.

1890.

P e r C e n t.

New York........................
Boston
......................
Philadelphia ................
Baltimore . . . . . . . . . . . . . . .
Chicago .............. ...
8t. I.ouls ......................
Now Orleans....... . .... ..

$380,039,857
71.413.838
42.840,935
9.827,200
70,177,341
20,454,859
5,300,821

$480,081,773
73,709,108
48,112,838
11,350.654
90.038.809
18,910,159
0,703,127

-1 9 -6
—3 1
-1 0 -9
-1 3*5
-22*1
+8*2
-2 1 -0

Seven cities, 5 days.
Other cities, 5 days......

$000,000,901
128,413,201

$728,972,308
129,942,413

-1 0 -8
-1 * 2

Total all cities, 6 days
All cities, 1 day------ . . . . . . . .

$735,074,102
193,092,483

$858,914,781
219,370,300

-14*4
-11*7

$928,760,045

$1,078,290,081

-1 3 9

Total all cities lor week

NO. 1,662.

1897.
*
535.713.08C
00,899.1318.320.40^
14,398.705
3,627,091
2,020,175
1,303,43“
1,008. Is©
849,501
730,25“
314,801
039.152,1Q£
83,260.218
4,030.7(K
2,174,957
1,380,271
1,100,592
1.354.081
1,023,021
658,711
503,125
408,041
90,400,930

1897.
1890.
P . Cent
$
560,920,75?
—6*1
01.564,17“
—V
17,198,704
+0*E
12.541.25c
-j-14*1
4,012,09!—12*:
1,817,93?
+11*2
1,389,81:
—I t
986,42c
+2*2
9*3,34c -13*6
071,sir
+9*7
302.601
+4*C
—4*4
608,395,074

1895.
*
674,936.935
64,706.421
16.094,05*
12,770,80*
3.804.881
1,773,08
1,5c 8,58?
853,000
748,256
090,83*
310,200
678,811,040

700.845
684,500
292,600
536,298.947

+4*0
-1 2 2
—90
+0*0
—10*]
+12 2
—10*5
-231
—I ll
-7 8
-t-a*8

93 050,015
4.082,OU(
2,020,010
1.840.237
1.301.747
1,179,522
1,210,108
731,442
076,711
320,212
106,678.009

80.718,458
3.995,000
1,060,074
1,133,398
1,052,053
1.127,000
1.095,878
700.589
033,421
337,801
92.510,738

79.371.202
5.302.601
2,390,221
1.307,371
1,297,74©
1.207,Sit
1.143,071
720,50£
506.082
442,459
93,815,157

80.344,870
87,442.109
11,403,85*
10 978.350
5.118,085
5,2*2,321
6,249.1s:$
5.800,707
4.210,111
3,9*1.05£
3,704.401
4,0*5,00*.
2,055.059
1,920 51?
1.748,000
1,280,072
1.311.021
1.294,047
728.525
771,828
594,485
020.671
238.8*<1
321.579
2o0,0*Xj
300,1>00
298 032
232,61*
220,300
229,621
153.48J
282.333
271,704
200, Z©7
131.24C
455,098
171,810
181,351
117,410.702 120.716.842

Spokane............ .
Fargo................. .
Sioux Falls........
Total Pacific.,

13.808 075
1,405.802
©04.709
910,03b
415,429
550, 01
603,83©
110.058
30.513
18,701.213

12,702,726
1.212,386
775.402
1,193,183
497,894
53»,0l9
437,570
136,704
79,009
18,300.293

Kansas City..........
Minneapolis.........
O m aha..... ..........
St. Paul.................
D en ver..................
Davenport.............
St. Joseph ............
Des M oines...........
Sioux C ity.............
L incoln..................
W ichita..................
Topeka...................
Frem ont................
H astings................
T ot. other W est

10 037,780
7,019.240
3.63« 523
3.003,116
2,013.140
583.536
1,14 4,728
952,79d
486,6©0
28 1,104
458,293
498,791
52.544
05,009
31,940,992

10,027.901
5,190.533
9354.020
4,123.02©
1.541,049
000,014
1,200.00*
1,205.777
110.038
257.437
481,388
455,3*21
48,272
50,029
29,009,007

St. L ouis................
New Orleans.........
Louisville..............
Galveston..............
H ouston.................
S a v a n n a h ..........
Richm ond.............
Memphis................
Atlanta...............
Dallas.....................
N ashville...............
N orfolk..................
W aco......................
Fort W orth...........
A u gu sta................
Birmingham..........
Knoxville................
Little R ock............
Jacksonville.........
Chattanooga...........
T otal Southern..

25,897,053
7,480 008
5,803.155
1 813,000
2,1* 1.001
1,977,900
2.019.772
1,592.851
1,148,789
1,103.28
920.000
900,393
203 891
044.871
077,902
414,181
541.110
288,020
22 >.121
242,275
55.619.939

21.887.232
8,374,994
5,509,152
1,781.320
1,504,102
1.735.640
2 059,107
1,880,308
1,032,354
1,438.271
771.754
839.372
514.370
053,002
077,106
480,335
431,501
204.404
290.726
253,793
52.331,149

1894.
f
440,892.372
58,269,335
13.756,288
1L,592,547
3,386,077
1.6P0 007
1,267,892

—8'1
83 109.091
79 822.759
+4*-J
11,965.961
11.812,100
—2*7
5,041,155
4 804,242
-9*6
4,504,196
4.004,080
-5*2
3 9*>1.435
4,100.802
—19*9
3 915,300
8.097,800
-0 0
1.137.061
930,778
—20’S
1,838,011
1,807.086
+1?
—6*6
970,480
083,905
-5 3
+3A8
333,488
343,275
—10*7
218,614
301,500
—22*1
210,465
218,688
-H'2
142,838
9*4.174
—34l
275,119
251,356
—23 9
269,133
227,237
-1 1 (j
118 157
124.718
-5 3
141,423
178,004
—7*3 118.305,631 112 846,449
+9*2
12,783.591
11.33-4,72+15 9
l,i 08,490
1.413,283
1,249,290
820,000
+ 3 "'
—a 2
770,282
1,236,243
—100
543 551
554 832
-t-3*e
685 858
455,001
+289
243,104
270.090
-1 5 1
115.000
359.495
—64*1
121,098
67,415
+2*2
17.694,814
10.300,230
+0*1
9,118.077
8.627 258
+408
4.692.907
5.907.8U
—8*2
4.830,851
3.1Is,519
-25*7
2 669.136
8.287.543
+09 0
2.610,12b
2,711,461
—19 c:
1.201.092
—4*0
1,110 523
-21*0
1,346.231
1,494,350
-4 9
687,429
614,927
+10 8
111.734
271,057
458,767
-5*4
492,922
+9*6
437.090
414,870
90,233
+89
72,197
80,600
+311
04,008
+7*9
28.730,007
28.253,293
+100
19.354,252
24 008 861
—10*7
6,429 238
8,215.97*
+5-7
5.092,218
5,870,238
-+-l*8
1.933 995
2.872.442
+397
1,953 210
1,754.718
+14*0
1,352,875
1.084.0*5
-1*9
1,740,798
2,319.48*
1.239 073
—15*0
1.801,965
796,239
+11*2
891,**.90
978,025
—23*3
1,018,897
+20*4
705,966
904,223
+ 14*4
895,753
903 00
076,875
—48*8.
892,031
-1 2
593.564
084 751
+0*1
040 0**0
-14*8
207,137
344,389
+33 j
310/04
+41 1
—24*1
392,809
340.0* 0
—1*5
173.752
212,713
44.077,433
+0*8
55.157,152
-3*0 1,003.171.970 829.607,488

The full details o f clearings for the week covered by the
above statement will be given next Saturday. We cannot,
of course, furnish them to-day, bank clearings being made
u p by the various clearing houses at noon on Saturday, and
hence in the above the last twenty-four hours of the week
have to be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the pre­
vious week, covering the returns for the period ending with
Saturday noon, April 24, and the results for the corres­
ponding week in 1896, 1895 and 1894 are also given. Con­
trasted with the preceding week, there is an increase in the
aggregate exchanges of about twenty-six million dollars, and
959.297,941 089,173.122
at New York alone the gain is nearly twenty-eight and three- T otal all........ .
422,240,309 ~~ +0*3 428 535.038 388,776,116
423.684.201
Outside
N.
York.
quarter millions. In comparison with the week of 1896 the
10.111.937
8 709,624
9,417.186
-0 0
9.3f9 845
total for the whole country shows a decrease of 3-0 per cent. M ontreal.......... .
4.635,225
6.U8.071
0,707.120
6.492,608 +23 4
oron to...............
Compared with the week of 1895 the current returns record THalifax...............
991,356
+0*8
918 410
1,041.310
1,116,390
589.990
—29
711 314
807.108
842.051
a decline of 4'4 per cent, and the excess over 1894 is 15'6 per W lnnlpee.............
544.771
499,350
+10*1
611,771
593.910
Hamilton.............
oent. Outside of New York the gain over 1896 is 0-3 per St.
450.599
John*.............
oent. The loss from 1895 reaches l -2 per cent, and making Total Canada..
“
16,630,968
17,332,989
17,379,159
+7*8
18.078,352
comparison with 1894 the excess is seen to be 9’0 per cent,
* Not Included in totals.

820

T H E

C H R O N IC L E .

[ V o l . L X IV .

able ; later on, when the accounts for the year are
closed up, an investigation will meet with fewer
The shipments of gold to Europe which begun this difficulties.
The foregoing trade balances and other figures given
week have led to considerable discussion. They would
attract very little if any attention were it not for the relate to transactions past and in a sense closed. Even
unfortunate condition of our curreucy. That is an the trade statement for April, which will not be made
occult influence which no one can measure and which, up until about the middle of May, is of course not
consequently, every one is liable to exaggerate. We included ; while the operations for the later month of
suggested months ago, and have also repeated the sug­ May and for June too are in some measure entering
gestion several times since, that the progress of tariff into current accounts and affecting exchange. The
legislation in connection with the other conditions pre­ truth is, merchandise imports in April have been large ;
vailing would induce a large increase in merchandise the merchandise afloat for the United States is still far
imports which during the months of small exports in excess of ordinary times, so that the arrivals up to
might lead to an outflow of gold. This is substantially July 1 promise to be abnormal. Rutting these facts
what is now occurring.
That is to say the un­ and the facts previously stated together, the outflow
usual movement of merchandise to America from of gold at the present moment will be found not
Orders for the metal were
aU parts of the world seeking to get advantage of at all surprising.
the existing duties in view of the higher rates which in the market last week to be sent to Vienna
They were not executed because
are expected to prevail soon, is the first factor in via London.
the situation, without which the movement of gold of an agreement among the principal bankers
would not be feasible. The other influence is that not to ship so long as sight bills could be obtained at
there is a special demand in Europe for gold by Russia 4 88f. Inquiries were, however, made at the Suband Japan, but more particularly by Austria. This Treasury on Thursday of that week as to the kind of
latter country has increased the urgency of the call, coin that would probably be furnished if withdrawals
and lowered the point of sterling exchange at which were required ; but nothing definite was known re­
gold can profitably be moved from New York to Aus­ garding the intentions of shippers until Saturday
tria, by the sale of a considerable amount of three and when $977,000 gold bars were ordered at the Assay
a-half per cent Treasury bills in London and Vienna, Office for shipment on Tuesday.
For Thursday’s:
with the requirement that payment be made in gold. steamer £1,500,000 additional were withdrawn. Y es­
The operation is not so very unlike our recent sales of terday the further amount of £4.750,000 was with­
bonds for gold which enabled us to import very con­ drawn, £4,000,000 to go out to-day and £750,000
siderable amounts of that metal even with foreign ex­ on Tuesday, May 4. The extent of this gold
change here at high rates. The truth is that the movement is not at all certain. W e have an enlarged
London and Vienna bankers bought Austrian 31 per visible and invisible supply of the metal and conse­
cents at a figure that enabled them to get a profit on quently can easily meet the demand. A t the latest
the purchase after paying something to secure the gold. the outflow can hardly continue after tariff legislation
But the question has been asked, how is an outflow is completed and the inducement for abnormal im­
of gold possible in face of the large merchandise bal­ ports removed ; the presumption is that the receipts
ance which the records of our foreign trade since July of foreign merchandise must then be for a time very
1 1896 show stands in our favor ? Do not the figures small, our foreign trade be favorable again, and gold
of the Bureau of Statistics for the current fiscal year exports be checked.
to April 1 indicate that the outside world still owes us
The outlook for speedy action in the matter of tariff
on that account 323 million dollars ? Sometimes the legislation is not quite so promising as it has been. In­
trade situation is stated in that way; but it should not stead of getting the bill before the Senate this week,
be overlooked that a portion of this balance has been as was the expectation last Friday, it has not as yet
paid by gold imports which the record for the same even been brought before the full Finance Committee
months states reached a net of £64,492,000 coin and The hope is now that it will be before the full com­
bullion plus £2,170,000 gold ore, or a total of £66,662,- mittee on Monday, where, according to present report,
0 0 0 : this offset is to be decreased, however, by the net it is likely to remain two weeks for examination,
exports of silver, which were £37,995,000 less the net though an effort is being made to reach an agreement
imports (£13,017,000) of silver ore. Taking all these that it be considered only very briefly and not
items into the account the actual net trade balance for critically in the com m ittee; if such an arrangement
the nine months ending with April 1, according to is entered into, the bill may be before the Senate
the Government’s exhibit, is found to be 281£ mil­ the coming week, though that does not look prob­
lion dollars instead of 323 million. Moreover, even able as we write. No factious opposition is anti­
that smaller result is subject to other well-known cipated either in committee or thereafter; still
deductions.
Our usual allowance for under-valua­ the more general view now taken does not fix an
tions, freights, &c., &c., during the same jteriod (nine earlier date for the measure to be in the hands of the
months), aggregates about £110,000,000. Then again President than the last of July or the first part of
there is the large security movement, which has been August. That means, of course, that the summer will in
against ns in the months beginning with last July large part be past before the situation can be wholly freed
and continuing through the election canvass to Novem­ from the uncertainties relating to the markets which
ber, and again becoming large when after the elec­ the progress of Customs changes introduces. As soon,
tion prices of the best securities at our Stock however, as the leading features begin to be discussed
Exchange rose so high that Europe found it profit­ in the Senate the probable character of the tariff leg­
able to market a very considerable amount of its islation of this year ought to become clear and busi­
holdings of first-class bonds and stocks. These capital ness affairs in good measure be relieved; for the
movements we cannot undertake to estimate accur­ chances are that the bill will substantially take its
ately. There are no sufficient data at present avail­ final shape in that body. In connection with that
T H E F IN A N C IA L S I T V A T I OX.

Ma y 1, 1897 .J

T H E

C H E O N IC L E .

thought the election of a conservative Republican Sen­
ator in Kentucky this week is a favorable circumstance.
We also have in that Senatorial election another in­
dication of the uncompromising material out of which
the Sound Money Party is made and a type of what hap­
pens and what must always happen when a basic prin­
ciple actuates a body of men. The Kentucky Legisla­
ture meets biennially, and has been for nearly a
year and a-half trying to elect a United States
Senator. The earlier effort began with the regular
session in January 1896, the Democratic Party hav­
ing a small majority in that body. Day after day
and week after week the two Houses met to­
gether and voted with great diligence, but enough
sound money Democrats refused to endorse the silver
candidate to prevent a choice until the term came to
an end and the Legislature adjourned. In the period
which has intervened a slight change in the character
of the membership of that body has occurred by death
and new elections ; in March the Governor, who is a
Republican, expecting that a Senator of his own
political organization could be chosen, called the Leg­
islature together in extra session. As it turned out
both parties nominated a silver candidate. Ever since
the extra session opened voting has been in progress
but without result. On almost any day either nominee
might have been chosen if he could have commanded
the gold members of his own party.
A t last the
Republicans changed their candidate aud nominated
a gold currency man.
A t the first opportunity he
was elected, all of the gold Republicans as well
as three of the gold Democrats voting for him, and
subsequently the gold men of both parties demon­
strating in most emphatic manner their happiness
over the outcome when it was attained.
Evidence of this same spirit is found in the utter­
ances of the Sound-Money Democrats at the Reform
Club dinner last Saturday night. That dinner was
in every way a notable affair. It was attended by
some of the most eminent leaders of the Sound-Money
Party, and they spoke in a way that could leave no
doubt of their continued and uncompromising hostil­
ity to the free silver heresy. Still retaining their old
tariff views, it was natural that they should express op­
position to the tariff policy of the dominant party. But
we think rather undue prominence has been given to
this part of the speeches. What to us is particularly
significant is that all the speakers took pains to re-affirm their adherence to the cause of sound money,
and to declare that under no circumstances would
they affiliate with the free-silver democrats.
They
would not change their position. They had nothing
to recant. The fact that at the same time they
declared their preference for low tariff duties serves in
our estimation merely to emphasize their attitude on
the money question. It is the money question that
marks a new issue in their political career— an issue
that has thrust all other issues aside. Hence the
announcement that on this issue their stand now is
just what it was at the November election is the point
of vital importance.
The key-note of their views was furnished by exPresident Cleveland when he said that “ above all
things true Democracy insists that the money of
the people should be sound and stable, neither shrivel­
ing in purchasing power in the hands of the poor
nor by its uncertain value driving enterprise and pro­
ductive energy into hiding’'; and also when he said,
“ Let true democrats meet the passion and bitterness

821

of their former associates who have assumed the lead­
ership of anti-Democratic wanderings with firm expos­
tulations, reminding them that Democratic convic­
tions and Democratic conscience cannot be forced to
follow false lights, however held aloft.”
The
other speakers were no less emphatic in their
declarations. Mr. John De W itt Warner said: “ This
rally is a notice that every fight in which we have en­
gaged is to be fought through to final victory.” ExSecretary Carlisle declared, “ We who have gone into
the contest for sound money do not purpose now or
hereafter to abandon any position we have heretofore
taken, or to modify any declaration we have heretofore
made on the subject” ; * * * “ we will continue to resist,
by all honorable means at our command, every attempt
to abolish or impair it [the existing monetary stand­
ard] in the United States, no matter what any
other nation in the world may do or refuse to
do.” In the same vein Senator Caffery of Louisiana
declared that, “ The flag raised at Indianapolis will
never be lowered. The men who braved the wrath of
a powerful political organization are not of a kind to
quail before danger or to surrender a principle.” And
Mr. William D. Bynum of Indiana was equally out­
spoken, saying that, “ To affiliate with the supporters of
the Chicago platform upon any issue so long as its
adherents insist as a prerequisite upon the doctrines
therein proclaimed would he not only a cowardly but
a dishonorable surrender.” There is striking unani­
mity in those utterances, and they show that there is
to be no step backward— that should occasion call for
it the Sound Money Democrats will be found ready in
the future as in the past to subordinate everything
else to the cause of an honest monetary standard.
A large number of returns of railroad gross and net
earnings for March have come to hand this week and
the results vary a great deal.
There are a good
many cases where both the gross and the net record
gains, but more often there is a gain merely in the
net (or at least the showing as to the net is better than
that as to the gross), owing to the adoption of a policy of
retrenchment in expenses. The Southern Pacific reports
$171,626 increase in gross and $203,217 increase in
net. The Wabash, with $65,926 decrease in gross has
$12,369 increase in net, and the Erie has suffered a de­
crease in both gross and net— $33,367 in the former and
$62,180 in the latter. Some of the anthracite coal roads
have done quite well, though it should not be forgot­
ten that this is in comparison with poor results last
year. The Lehigh Valley on its railroad operations
shows $66,613 increase in gross and $125,326 increase
in net, and on the operations of the Lehigh Valley
Coal Company $253,114 decrease in gross, with
$83,273 increase in net, making the combined increase
in net $208,599. The New York Ontario & W est­
ern has an exceptionally good statement, reporting
gros3 of $303,726 against $258,716, and net of $79,806
against $44,568.
The New York Susquehanna &
Western has $3,751 decrease in gross, $4,968 decrease
in net. The Reading shows comparatively small changes
for the Railroad Company, but considerable losses in
both gross and net for the Coal & Iron Company ; the
final result (including miscellaneous income) gives net
of $542,896 for March 1897, against $597,276 for March
1896.
Among the grain-carrying roads the Milwaukee &
St. Paul has $413,028 decrease in gross and $104,426
decrease in net, but the Burlington & Quincy has
$253,597 increase in gross and $287,355 increase in

822

TH E

CHRONICLE.

[VoL. LX1V.

longer periods on good mixed Stock Exchange collat­
eral. There is a meagre assortment of commercial
paper offering and the market is dull. Quotations
are 44 per cent for sixty to ninety day endorsed bills
receivable : 3 j@ 4 4 per cent for first class, and 4|@54
per cent for good four to six months’ single names.
There are indications that the war between Turkey
and Greece, which began April 18, when the Turkish
Council of Ministers declared that a state of war ex­
isted, will soon be brought to a close bv the interven­
tion of the Powers. Larissa, the Greek headquarters,
was evacuated on Saturday, and the army retreated upon
Pharsalia.
The news of the disaster caused in­
tense excitement at Athens and there was a feeling of
——
4 a r c h B a m in i]* . ■—
—* resentment against the King.
M. Ralli, the leader of
1894 ■
1895.
1896.
1S0L
the
Opposition,
sharply
criticised
the conduct of the
*
*
4
5
S' mu Of Road119,000
118,104
153.520
1*31,630
JJitiMuoa. f i t Southern ,, .Gross
war and as he had a large following a grave political
32,078
29.018
Net
34.031
182,579
193,246
185.043
201,321
Allegheny Valiev......... . ..Gross
The politi­
81.189 crisis seemed imminent on Monday.
79,548
Net
8fS’§22
60,889
2,380,930
2,320,547
2,274,863
Atchison Top. k Santa Fe..Qross 2,543,170
cal
situation
continued
critical.
On
Thursday
the
497,914
Net
534,856
542,834
884.943
223,774 King called upon his ministers to resign and he en­
231,107
255,065
252.890
Buffalo Boohu & Pitta..,..
74 7:i3
78,550
19,107
7rM7
Net
1,193,259
1,382.119 trusted the Opposition leaders with the task of form­
1,503.808
Qaaadi&n p settle.......... ..Gross 1.52*945
413.371
470531
392,287
5*20.21S
Net
2,850,989 ing a new cabinet with M. Ralli as Prime Minister.
2,517,286
2.712,142
Chicago Burl. & Quincy... ..Gross 2,995.739
1.148.387
902,567
1.853.728
Net
1,MCH,873
2,515
797 The European security markets were only slightly
2,740,354
2,258,237
2 338,320
Chicago Mil. & St. Paul...
1.035.537
1,061,34 •
1.010.371
1,114.798
Net
4-<9
4
influenced by the news from Greece and there was a
481,787
586,801
520,788
Denver & lilo Grande.. . ...Gross
173,859
177,600
228,968
228,058
Not
firmer tone for consols, due to the outlook for the
2,189,073
2 474,295
2,455,786
088,603
619,703
557,523
Net
speedy
ending of the war. The Bank of England
121,293
321,119
123,941
129,041
OO'.rela............................ ..Gross
20,111
28,050
27,854
Net
32,588
minimum
rate of discount remains unchanged at
147.289
143.P45
162.428
188.838
Mmneapolf* * St. Louis.. ..Gross
55,60'
77,369
Net
71,990
71,103
21
per
cent.
The cable reports discounts of sixty to
298.021
288,360
304.726
268,718
a T, Ontario 4 W est.....
80,595
8 '.HU
79,806
44,568
Net
ninety
day
hank
bills in London at 1 5-16 per cent.
191,8 6
151.7 8
102.517
183,268
K, V. Susq. A Western....
82.000
74,729
73,017
08.049
Net
The
open
market
rate at Paris is 2 per cent
495,554
543,0 48
514.957
505.941
Horthorn Central............
170,154 and at Berlin and Frankfort it is 2 § per cent.
147.131
191,155
Net
127.884
494,526
515.015
52Q755
483.445
St. Louis 4 Sun Fran.......
210,168
152,2* 7 According to our special cable from London the
229,057
185.844
Net
1,007
^39
1,002,384
1.015,428
930,438
W ahaah........... .. . . . . . . . . .Gross
280,059
269 810 Bank of England gained £201,865 bullion during the
311,166
328,584
Net
The Pennsylvania Railroad return for March shows ■week and held £36,493,913 at the close of the week.
on the whole comparatively slight changes, though as Our correspondent further advises us that, the gain was
the road is regarded as typical of the country’s indus­ due to the import, of £300,000 (of which £140,000 were
tries. it is interesting to observe that the gross' earn­ from Australia, £150,000 from the Cape and £10,000
ing.- still run behind last, year, the decrease having from Portugal,) to receipts from the interior of Great
now. however, been reduced to small proportions. Ex­ Britain of £444,000 net and to exports of £542,000, of
penses are being rigidly curtailed, so that the net is which £445,000 were to Japan, £91,000 to Austria
better than a year ago. On the Eastern lines, with and £6,000 to India.
£189,200 decrease in gross, there is 827,300 increase in
The feature of the foreign exchange market this
net. ami on the Western lines, with £138,600 decrease week has been the export of gold to Europe, Last
in gross, there is £20,500 increase in net. On the com­ week there were rumors of gold shipments although it
bined system the reduction in expenses h as. been was stated that there was an agreement among foreign
£475,600 for the month and 81,592,200 for the three bankers not to execute orders for the shipment of gold
months. The following is a six-year comparison of unless the sight bills drawn against the export could
the earnings of the Eastern lines.
be sold at 4 88 |, s j as to afford a fair profit on the
transaction. On Saturday, Muller, Scliall & Go. with­
U i n w tm o r
1895.
1S93.
I8&7,
1880,
1891,
1892.
VlTTgliCKO.
drew §977,000 in gold bars from the Assay Office for
March,
t
?
*
*
%
*
shipment to Austria on Tuesday. On Monday K id ­
0tt>ts earnings..... 5,064,732 5,263.932 5,133,6*2 4,612,30? 0.095,8S2 5,449,£04
Opera!'g expenses. 3,444,810 3,061,31c 3.019.&U 3,255,012 1,323,795 3,803.510 der, Peabody & (Jo, caused the withdrawal through
Ifst earning*,,. J,019,922 1*692,022 1,513,622 1,050,750
& Co. of 8500,000 gold coin
1,041 275 Baring, Magoun
J flA l U> Mar. 31.
for shipment to Germany on Thursday.
Nomi­
Urea,
...... 14,806,087 li ,893,737 11,231,187 13,071,81) 16,140,176 15.070 64*2
nal
rates
were
reduced
half
a
cent
by
Brown
11,184
217
10*207,017
10,587,517 0,877,886 12,037,413 11,885.884
OjXrM'K CIPOUM*.
Net earning*...
3,759.620 3,013.920 8,889.979 3.508.763 4,290.750 Bros, while rates for actual business fell one-quar­
Money on call, representing bankers’ balances, has ter of a cent, partly because of offerings of bills
loaned at the Stock Exchange this week atl^ and at t£ against those shipments and also for the reason that
per cent, with large transactions at the first-named rate, it was thought there would be other bills offered
and the average has been at about I f per cent, Banks against later shipments. Tuesday was a holiday. On
and tru.-i companies offering their money on the Ex­ Wednesday hazard Ereres withdrew 81,000,000 gold
change have accepted the rates there current, ami very coin from the Treasury for export to France on the
little bank money has been taken over the counter at following day, and the offering of bills against this
2 per cent. Time contracts are freely offered, but the shipment and that of Kidder, Peabody & Co., together
business done has been confined to a few renewals and with a light demand, caused a further decline of oueragements have, been made, quarter of a cent in rates for actual business. On
Bates arc easier at % per cent for thirty to sixty Thursday Kidder, Peabody & Co, ordered $500,000
days:
per cent for ninety days to four months ; 3 gold coin for export on Tuesday of next week, and it
per cent for five to seven months, and 3£ per cent for was then expected that there would be an export of at

*k;t.

T h i- 1 .ittailiaii Pacific has added £25,342 to its
,uni £FS>h? to its net. Among Southern roads
the Centra! of Georgia has £5,759 decrease in gross
bu: *4 >40 increase in net, and tho Alabama
Gnat
southern
has £1,981 decrease in gross
and s , is-,* decrease in net. In the Southwest the
St. lands A san Francisco, with £ 11.740 increase in
gro-y, has £l s,00 1 increase in net, but the Atchison
Tuj.fka A Santa Fe. with £208,807 increase in gross, has
only £8,1 fx increase in net. The Denver & ltio
Grande ioses £40,01 s in gross but only £400 in net.
Below we furnish a four-year comparison of the March
gross and net of a number of roads that have this week
submitted statements for publication.

It

i i-

Ma t 1, 1897,]

T H E

C H R O N IC L E .

least $2,500,000 by Saturday’ s steamer. The tone of
the market was strong for long sterling at an advance
of one-quarter of a cent, while short sterling and
cable transfers were firmly held. On Friday Kidder,
Peabody & Co. engaged $250,000 more for shipment
next Tuesday ; in addition $4,000,000 was engaged for
shipment to-day, namely $1,500,000 by L. von Hoff­
mann & Co., $1,500,000 by Lazard Freres, $500,000 by
Heidelbach, Ickelheimer & Co. and $500,000 by Kuhn,
Loeb & Co. This makes the total exports $6,477,000,
not including the amount to go next Tuesday.
The range for nominal rates for sterling on Monday
was unchanged at 4 87 to 4 87£ for sixty-day and 4 88£
to 4 89 for sight, compared with Friday of last week,
though Brown Bros. & Co. reduced their posted figures
half a cent. Rates for actual business were one-quar­
ter of a cent lower all around, at 4 86£@ 4 864 for long,
4 87J@ 4 88 for short and 4 8 8 @ 4 88£ for cable trans­
fers.
On Wednesday the Bank of British North
America, Heidelbach, Ickelheimer & Co., Lazard
Freres and the Merchants’ Bank of Canada reduced
their posted rates half a cent, but the range for nomi­
nal rates wa3 unchanged, Baring, Magoun & Co. and
the Canadian Bank of Commerce posting the higher
figures. Rates for actual business were one-quarter
of a cent lower at 4 8 6 @ 4 86^ for long, 4 87 4 @ 4 87f
for short and 4 8 7 f@ 4 88 for cable transfers, and the
market was
easy at
the
close, and
it was
then reported that
only a
small
portion of
the bills against the intended shipments had been
sold. On Thursday all bankers, except the Canadian
Bank of Commerce, posted 4 87 for sixty day and
4 88£ for sight; but with the exception of an advance
of one-quarter of a cent in rates for actual business in
long sterling to 4 86^ @ 4 86£, there was no change,
and the market closed firm. Bankers handling pro­
vision bills report a good supply and some commercial
francs have been sold against cotton seed oil. Yester­
day posted rates were uniform by all the bankers and
there was no change in actual rates, though some
bankers report having purchased bills at a slight con­
cession from the quoted figures. The following shows
the daily posted rates :
DAILY POSTED BATES FOR FOREIGN EXCHANGE.
F r i ..

Mo n ..

T C «s.

WED.

t b p r ..

FBI.
A p r. 30.

87
8 8*
8?
«8*
83
8 8*
87
S-K
*7 *
w9
-7

*7
*■8*
87
ax
87
S 'X
87
88 i
87
88*
<*7
8S«
87
88*
87
«9*

A p r 23. A p r . 26 A p r . 27. A p r. 28. A p r . 29.

00 day*
»r o * n Bros....... J
} Sl«bi
{ 00 days
Bartng
Maaoun A C o . iSlMht
Bank Brttlsn
(00 days.
No. America . ISIvtat..
Bank o f
i 00 days
) Sltfbt..
Montreal
Canadian Bank (00 days.
o f Commerce.. J Sltrht....
Beidelbacn, Ick- f tto days
elhetraer A Co. * Siirbt..
»00 days.
i asarO Freres. >8l«rbt....
* e '«h a n ta ’ Bk »BO days.
■ * Canada.
Jftltrhf....

87*
©7*
"9
87 If
89
87
8 **
-7 *
*7 *
8*
*7 *
89
-7 *

89

87*-7
89-8*
87*
89
*7 *
89
87
87*
89
87M
89
87*
89
8 7*
89

8**
b7*
87
B-W
87

◄
Q

8 7*
89
87
8b*
87
*• *
©7
88*

O

*7
©8*
87
88*

The market closed weaker on Friday with posted
rates at 4 87 for sixty day and 4 88£ for sight. Rates
for actual business were 4 86£@ 4 86£ for long, 4 87£@
4 87| for short and 4 87|@ 4 88 for cable transfers.
Prime commercial bills were 4 85 £ @ 4 86 and docu­
mentary 4 85^@ 4 85|.
The following statement gives the week’s movements
of money to and from the interior by the New York
banks.
W eek E n d in g A p r il 30. 1897.

C urrency..............................................
G o

R e c e iv e d b y
r. B a n k* .

V.

S h ip p e 1 b v
Banka.

v, T .

N et I n t e r io r
M ovem ent.

... ...... ..........

•0.319.000
493.000

$1,584,000 G ale.$3,735,OOO
322,000^ Gain.
170.000

Total gold and legal tenders . . . .

•5,811.000

$1.906,000'Gain.$3,905,000

d.............

823

With the Sub-Treasury operations and gold exports
the result is as follows.
Week Ending April 30, 1897.

Into
Banks.

Out of
Bmks.

Net Change in
B ink Holdings.

Banks’ interior movement,as above $5,811,000 $1,906,000 Gain. r3,905,'»00
Snb-Treas. operat’ns and gold expts. 13,600.000 20,777,000 Loss. 7,177.000
Total gold and legal tenders...... $19,411,000 $22,683,000 Loss $3,272,000

Amount of bullion in principal European banks.
A p r i l 29,1897.
B a n k of

England........
France....
Germany*.. .
Aust.-Hung’y
Spain.............
Netherlands.
Nat. Belgium*

G o ld .

| S ilv e r .

A p r i l 30 1896.
T o ta l

£
£
£
36,493.913
: 30.493,913
70.885,790 48,809.839 126.755.029
22,551,200 15.223.350 44.774,550
31,738,000,12,018,000 44,366,000
8.528.000 10,560.000 19,078, »0i
2.631.000 0,820,000 9,451,0O<
2.807,833 1,403,067 , 4,211.00

G o ld .

S ilv e r

a
£
47,022,493
78,100,656 49,722,797
29,894,500 14,931,500
26,854,000 12,814,000
8.192.000 10,030 0O2,025 100 0,933.001
2.076.000 1,338,000

T o ta l

47,022,493
127.829,45 3
44,820,000
39,608,Ot 0
18,852 000
9.0 8 0»>0
4.014.000

Tot .this week 188,635.230 95,484,830 284,120,092 195,970,049 90,449,297 292.419,940
Tot. prev. w’k 187.079,978 94,963.2«0 28-2.943 23S 190,150,212 90,52 ',733 2 92,670,905

• The division (between gold and silver) given ia our table o f ooin
and bullion in the Baak o f Germany and the JBiuk o f Belgium is made
from the best estimate we are able to obtain ; in neither case is it
claimed to be accurate, aa those banks make no distiaotion in th eir
weekly returns, merely reporting the total gold and sliver, but we
believe the division we make is a close approxim ation.
.Vote . - W e receive the foregoing results weekiv b oable, and while
no ab o f the "a te given at the he id o f this oolum u, they are the reterns Issued nearest to that date—that is, the latest reported figures.

RIGHT

OF CITIES TO OPEN STREETS
ACROSS RAILROADS.

The question of removing grade crossings of rail­
roads is one that is engaging the attention of nearly all
the larger communities. The United States Supreme
Court recently rendered a decision in a case which did
not involve that question, but which involved another
question of much importance to the railroads, namely
the subject of opening new streets across the tracks of
the roads, thus creating new grade crossings. The
case was that of the Chicago Burlington & Quincy Rail­
road Company versus the city of Chicago. The right
to open the street across the road was not in question
in this case, as the city clearly possessed the necessary
power under a general statute of the State of Illinois
relating to the incorporation of cities and villages.
The case was interesting, however, because it raised
the point as to what was just compensation for land
taken from the right of way of a railroad in opening a
street, and also the point whether in estimating the
compensation to be paid the expense to which the road
might be put, through the opening of the street, for
erecting gates and maintaining flagmen, &c., ought to
be taken into consideration.
It appears that by ordinance approved October 9
1880, the City Council of Chicago ordained that
Rockwell Street in that city be opened and widened
from West 18th to West 19th Street, by condemning
therefor (in accordance with an act of the State of
Illinois, approved April 10 1872, and relating to cities
and villages generally,) certain parcels of land owned
by individuals and also certain parts of the right of
way in Chicago of the Chicago Burlington & Quincy
RR. Company, a corporation organized under Illinois
law. In execution of that ordinance a petition was
filed by the city November 12 1890, in the Circuit
Court of Cook County, 111., for the condemnation of
the land and property proposed to be taken or dam­
aged, and asking that the compensation to be paid for
such property be assessed by a jury, as provided by
the law of 1872. The jury awarded the Burlington &
Quincy only one dollar as compensation for those parts
of its right of way described in the city’s petition as
necessary to be used for the purposes of the proposed
street. The company moved for a new trial, but its

821

THE

GHRO NK'LF.

JVofc. LX1V,

motion w;s.s overruled, and a final judgment rendered the purpose of re-examining and weighing the evidence
su execution of the award by the jury.
The Supreme and of determining whether upon the facts the jury
Court of Illinois having affirmed the judgment the erred in not returning a verdict in favor of the railroad
case was earned on a writ, of error to the Supreme company for a larger sum than one dollar. The con­
clusion is reached that the Court possesses no such
Court of the United States.
The contention of the railroad company was that power— that whatever may have been the power of the
the judgment of the State Court awarding it only one trial court to set aside the verdict as not awarding just
dollar deprived it of its property without process of compensation, or the authority of the Supreme Court
law, contrary to the prohibitions of the Four­ of Illinois, under the Constitution and laws of the.
teenth Amendment of the Constitution of the State, to review the facts, the Seventh Amendment to
United States : that the company was entitled the Constitution clearly forbids a re-trial on the part of
by reason of the opening of the street to re- j the Federal Supreme Court. The persons impaneled
cover as compensation a sum equal to the difference in the present case, says the Court, to ascertain the
between the value of the land as land without any just compensation due to the railroad company, con­
restrictions on its right to use it for any lawful pur­ stituted a jury as ordained by the Constitution of Illi­
pose and the value of the land burdened with the nois in cases of the condemnation of private property
right of the public to use it for the purposes of a for public use, and, being a jury within the meaning
street crossing. In the determination of these con­ of the Seventh Amendment of the Constitution of the
tentions, some collateral points were raised and dis­ United States, the facts tried by it cannot he re-tried
posed of, but we shall confine ourselves in this article “ in any court of the United States otherwise than
according to the rules of the common law.” The Fed­
to the main issue.
Justice Harlan, who delivered the opinion of the eral Supreme Court therefore is permitted only to in­
Court , pointed out that it was not claimed, and indeed quire whether the trial court prescribed any rule of
could not bo claimed, that the Constitution of Illinois law for the guidance of the jury that was in absolute
deprives the railroad company of any right secured by disregard of the company's right to just compensation.
The State Supreme Court had held that when a
the Fourteenth Amendment : for the .State Constitution
not only declares that no person shall be deprived of his city, under the authority of the A ct of April 10 1872,
property without due process of law, but that private extends a street across railroad tracks or right of way,
property shall not he taken or damaged for public use “ it does not condemn the land of the railroad com­
without just compensation. He also observes that the pany nor prevent the use of the tracks and right of
judgment of a State Court, even if authorized by way.” Justice Harlan, speaking for the Federal Su­
statute, whereby private property was taken for the preme Court, accepts this interpretation, saying:
State or under its direction for public use without “ We take this to be a correct interpretation of the
compensation made or secured to the owner, would be, local statute, and as indicating not only the interest,
upon principle and authority, wanting in the due pro­ acquired by the public through proceedings in­
cess of law required by the Fourteenth Amendment. stituted for the extension of a street across the tracks,
The point to determine,therefore, was whether the nec- and right of way of the railroad company, but alsoestanj effect of the proceedings in the court below was the extent to which the company was deprived by
to appropriate to the public use any property right of the proceedings for condemnation of any right in
the railroad company without compensation being respect of the land. Such being the law of the State,
made or secured to the owner. The railroad company it would necessarily follow that the jury in ascertain­
maintained that the verdict for one dollar was in effect ing the amount of compensation could not properly
an appropriation of its property rights without any take as a basis of calculation the market value of the
land as land. The land as such was not taken, thecompensation whatever.
Undoubtedly, says Justice Harlan, the verdict may railroad company was not prevented from using it,
not unreasonably be taken as meaning that in the and its use for all the purposes for which it was held
judgment of the jury the company’ s property pro­ by the railroad company was interfered with only so
posed to be taken was not materially damaged; that far as its exclusive enjoyment for purposes of rail­
is, looking at the nature of the property and the pur­ road tracks was diminished in value by subjecting the
poses for which it was obtained and was being used, land within the crossing to public use as a street.” Iu
that which was taken from the company was not, in other words, the Court holds that as the right to open
the judgment of the jury, of any substantial value in a street across the railroad tracks was all that the city
money. The owner of private property taken under sought to obtain by the proceeding of condemnation,
the right of eminent domain obtains just compensa­ it was not bound to obtain and pay for the fee in the
tion if he is awarded such sum as, under the circum. land over which the street was opened. If, argues
stances, is a fair and full equivalent for the thing Justice Harlan, prior to the institution of these pro­
taken from him by the public. If the opening of the ceedings the railroad company had constructed upon
street across the railroad tracks did not unduly inter­ the land embraced within the crossing buildings to be
fere with the company’s use of the right of way for used in its business, it would have been necessary for
legitimate railroad purposes, then its compensation the jury, in ascertaining the just compensation to be
would be nominal. But whether there was such an awarded, to take into consideration the value of such
interference, what was its extent, and what was the buildings. But no such case was before the Court.
value of the loss by the company as the direct result
The Court also rules against the contention of the
of such interference, were questions of fact, which railroad that error of law was committed by the
the State committed to the jury under such instruc­ refusal of the lower court to allow the company to
tions touching the law as were proper and necessary.
prove that in the event of the opening of the street
The opinion then goes at length into the question it would be necessary, in order that the railroad hr it
whether it i- competent for the Federal Supreme Court properly and safely operated, to construct ft of at
to go behind the final judgment of the State Court for and a tower for operating them, plank the ere

j:

i

Ma t 1 ,s»-7

T H K

(1H R O N I C L K .

fill between the rails, put in an extra rail, and
to incur an annual expense for
depreciations,
maintenance, employment of gatemen, &c.
It
was not claimed that the railroad company could re­
cover specifically on account of such expenditures, but
that the proof of their being made necessary by the
opening of the street was admissible for the purpose of
showing the compensation due to the company. Jus-,
tice Harlan says there are some authorities that seem
to support the view taken by the railroad company,
hut the Court is of opinion that no error was com­
mitted in excluding the evidence offered. “ The plain­
tiff in error took its charter subject to the power of
the State to provide for the safety of the public, in so
far as the safety of the lives and persons of the people
were involved in the operation of the railroad. The
company laid its tracks subject to the condition, neces­
sarily implied, that their use could be so regulated by
competent authority as to insure the public safety. And
as all property, whether owned by private persons or
by corporations, is held subject to the authority of
the State to regulate its use in such manner as not
to unnecessarily endanger the lives and the personal
safety of the people, it is not a condition of the exer­
cise of that authority that the State shall indemnify
the owners of property for the damage or injury result­
ing from its exercise. Property thus damaged or in­
jured is not, within the meaning of the Constitution,
taken for public use, nor is the owner deprived of it
without due process of law. The requirement that
compensation be made for private property taken for
public use imposes no restriction upon the inherent
power of the State by reasonable regulations to protect
the lives and secure the safety of the people.”
In support of this view, the Court also quotes from
the case of Chicago & North Western Railway Com­
pany versus City of Chicago [140 111. 309, 317-319, 29
N . E. 1109, 1111], where a similar question was
raised
In that case it appeared that the railroad had
been constructed prior to the A ct of 1872 for the in­
corporation of city and villages, and before the pas­
sage of the A ct of 1874, which required that there­
after at all railroad crossings of highways and streets
the railroad companies should construct and maintain
such crossings, and the approaches thereto, within
their respective rights of way, so that at all
times they should be safe as to person and
oroperty. The Court held, nevertheless, that every
railroad takes its right of way subject to the
right of the public to extend the public highways and
streets across such right of way ; that railroads so far
as they are public highways are subject to the control
of the police power of the State ; that the requirement
of the A ct of 1874 was nothing more than a police
regulation, and that hence the road could not claim on
the opening of a new street and the condemnation of
part of its right of way for the use of such street
that the expenses connected with maintaining the new
crossing should be allowed it as part of its compensa­
tion.
It deserves to be mentioned that Justice Brewer
filed a strong dissenting opinion, holding that the ex­
pense of constructing and maintaining the crossing
can not be ignored, and declaring that it seemed to
-him “ monstrous” to say that the public can create
the right to cast a large burden of expense upon the
company and yet be under no obligations to compen­
sate therefor. He also took issue with the opinion on
some other points.

325

P R E F E R R E D S T O C K S A N D V O T IN G T R U ST S .
In writing last week on the subject of preferred
stock certificates, we were unable for lack of space to
do more than allude to the voting trust agreements,
under the terms of which most of the stock issues
mentioned are held. It was, however, to these voting
trusts that a leading financier referred, when he made
the remark, quoted by us not long ago, that in his
opinion the voting trusts created within the last year
or two had largely eliminated the danger of serious
rate disturbances, even though Congress and the
courts should interdict agreements for pooling and
traffic associations. W e may well, therefore, inquire
as to the number and nature of the voting trusts
and the leugth of time during which they will, or at
least may, continue in force.
In the following table we have grouped the eight
companies whose stocks formed the topic of last weeks
discussion into three classes, viz: (1) Those whose
stocks, both common and preferred, are not subject to
any voting trust agreement or to any other form of
temporary restriction on their voting power, (2) those
whose preferred shares carry temporary control, and
(3) those whose stocks are for the time being fully
trusteed, to the end that their voting power may be
exercised by the boards of voting trustees selected by
the several committees that have reorganized the
properties. Our table is as follows:
NO VOTING TRUST.—SHARES HAVE USUAL VOTING POWER.

A tch.Top. &9. F e R y . . .

Miles
Controlled.
6.922

P referred
Common
Stock.
Stock.
$119,657,300 $102,000,000

PREFERRED SHARES CARRY TEMPORARY CONTROL.

Norfolk <fe Western R y ....... 1,570
Ore*?. RR. & Nav. (stocks
trusteed to ensure th is).. 1,063

$23,000,000
11,000,000

$66,000,000
24,000,000

ALL SHARES FOR A TIME FULLY TRUSTEED.

......................... 2 , m ° |
] $100,000,000
Northern Paciflo R y............ 4,346
75.000.000
80,000,000
Beading Com pany..........
1,277 { Vd p f i l l .o o o l o o o }
70,000,000
S t.L o u is * S a n . F ra n .R E ... 1,274 [ 2 d p f 'l 6 o o o ’o o o }
Southern R ailw ay................ 4,752
'54,’sooiooo *
Total lo r all above c o s .23,344
Of which for cos. whose
stocks are fully trusteed. 13,789

29,000,000
125,000,000

$419,957,300 $596,000,000
$266,300,000 $404,000,000

This table discloses the fact that five of the eight
companies are entirely in the hands of voting trus­
tees, who thus for several years to come will have the
absolute control of systems representing in the aggre­
gate about 14,000 miles of railway, a preferred stock
issue of 266 millions and a common stock issue of 404
millions.
While no one will dispute the fact that this means
the concentration under the management of a few
conservative and experienced men of a vast amount
of railroad mileage, to the manifest protection of the
security holders, yet it may naturally be questioned
how it is that with say twelve-thirteenths of the total
railroad mileage of the country not so controlled that
the effect as to maintenance of uniform rates can be
expected to be so marked. The explanation lies in
the circumstance that of the remaining mileage of the
country, so great a proportion, embracing most of the
larger corporations, is practically, if not actually,
controlled by a very few interests, which are as much
in earnest as voting trustees could possibly be to keep
business on a paying basis. In passing, it is worth
while to examine the following table, which shows a
number of roads whose management is recognized as
being in few hands, although in no case (except a
partial one for Lehigh Valley) is there a voting trust
now operative.

T H E

828

C H R O N IC L E .

f v o l , L X IV .

be over, and the need for worry about rate wars, which
are the natural consequences of hard times, should
S e w V .'fk C rn la l
.. 2 ,6 3 5 Lehtjrh V n U e y fl....................... 2 ,1 5 5
685 have passed from view.
Lake Show ........................... 1,4-40 D e la w a re A i l a d » o n .............
901
H*BV V '-rk C B lca^o ,V St. I * .
.**04 Dataware Lack a. A Wektorti
Mr. Mill's tysttm —
MtGh. iVftt. iln.’ l. Cati, S o ,). 1 .6 4 2
Some of our readers having expressed the desire to
Qhhrago * V b l t t W o « * « m . • 6 .4 3 9 Great Northern Ky.............. 4,498
O o u lc i S a g e r u a d t C U e . 9%. f . M inn. A O w a lu u 1.492
see a voting trust agreement, such as is in force
Missouri Pacific.................... 3,163
if.rx;;--. ■Va,nL,i>,L' m i 4 i ChwJkpooSti* A O h i o . . . . . . . . . 1 ,3 6 0 I ro a M ou n ta in .................... •• 1 .7 7 3
for the five stocks just mentioned, we will give
823
CieveuMKt C ta. CbU- A St. L. 3 ,3 9 0 International A <it. Norttx n
fit. Uml* Southweat’ n E y ... 1.223 next week, under the heading “ Reports and Docu­
S-rw Ikem Baf, . d llir d l i n e s —
0 « r * i o f 0 » . R y., M e.......... 2 ,441 T exas A Paolflo..................... 1.499
Plant system ...................... 1,941 ments” , the full text of the Reading agreement and a
triads—
S outhern PsK-me « r » t r m . . . 7 ,6 8 4
T o t a l ................. ...................... 4 7 ,9 4 5
copy of one of the voting trust certificates issued to
4o
do
U llo d U n o * 1,237
The agreement, it will be noticed, is
___________
M
m b . D r e____________
x e l A Co. an d J. P . Morgan * Oo, in' Starch 1897 ae- the public.
f\irr,! anil n ow b o ld the v o tin g rig h ts o f the P a c k e r s to c k , w h ich
s v a w them fo r «onu ' time t o c o m e a la rg e , If n o t a co n tr o llin g , inter­ short and extremely simple in its terms, yet complying
est tn th e p ro p e rty .
fully with all the requirements of the case. The sum
To say nothing of other lines more or less closely
and substance of it is that the trustees covenant to
owned or controlled, we have here a total of about
hold the stock during the time prescribed (unless
48,000 miles of railroad in whose management single
they elect earlier to terminate the trust) and in voting
interests have a voice sufficiently strong to require tbe
on the stock to “ exercise their best judgment from
executive officers to enter into and to maintain traffic
time to time to select suitable directors to the end that
agreements whenever these appear for the well being
the affairs of the company shall be properly managed,
of the stockholder. Such being tbe case, to have
and in voting on other matters which may come before
placed 14,000 miles of road additional in the hands of
them at stockholders' meetings to use their best judg­
voting trustees means, of conrse, to have reduced sen­
ment.”
sibly the danger of disastrous rate conflicts.
One improvement we note in the more recent
To indicate clearly the duration of voting trust and
agreements like the Reading. It is with reference to
voting preference, where such is given to the preferred
the making of new mortgages or to the increasing of
stock, the next table has been prepared. The first
the preferred stock issues, the same rights being now
column here shows the date until which the voting
reserved to the holders of the voting trust certificates
trust or agreement is to continue, the second column
as would belong to them as stockholders were the
the circumstances under which the trust may he still
shares instead of the certificates outstanding. Tlnus
further prolonged, and the third column the only con­
in the case of the Northern Pacific the voting trustees
ditions permitting of its termination, either subsequent
are limited in their powers to the extent that they can­
or prior to the date first named :
not authorize a new mortgage or increase the preferred
STOCKS 1DI.LV trosteed —d o tatio n o f trust .
Trust con- And thereafter iviU be canBut may he
stock issue without first obtaining the consent of a
tinned: tin .
United until.
terminate*.
•i p. c. ia p aid on 1 s t p r e f. ( B y tru s te e s a t majority of the whole amount of the voting trust certi­
a n y tim e.
Brte a s ............*......... •»«>• l . M « } "
in one year.
B y tru s te e s a
Northern Pacific Ry....Xov. 1* 1001 No extension permitted.
ficates representing the preferred stock and of a major­
a n y tim e.
U p . c . Is p aid o n i st p f, f o r l B y tru s te e s a t
Rea4mg Coni p m r...... Jan. tA’ toAo
1
) tw o c o n s e c u tiv e y e a rs. < a n y t im e .
ity of such amount of the voting trust certificates
( B y tru s te e s a t representing the common stock as shall he represented
c
o
n
s
e
n
to
w
ith
{
consent
of
cerSt. L, 4 San Fran. R R ..July 1,1901
two ouiukmiuuyv years. jconsent,O
tifleate h o ld - at the meeting called to consider the question.
W e do
t era, e tc . x
i 5 p. cu is paid on p re f. in 1 B y tru s te e s a t
Southern Ky................ July 1,1899 not
imagine
that
the
voting
trustees,
in
the
absence
of
o n e y e a r.
( a n y tim e.
STOCKS TRU STEED TO G IV E CONTROL TO PR E F E R R E D STOCK.
such a provision, would think of performing either of
(B y vote of cer*
Oregon R R . & Nav......Aug. 17,1906 N o extension permitted. \till cate hold- these acts, but it is obviously proper that the rights of
( era, etc. T
FILES E RIGID STOCK HAS TE M PO R A R Y CONTROL (ASID E FROM TRUSTEESHIP) the stockholder should be so safeguarded.
As to the
f l f 4p.c. is paid
appointment
of
new
trustees,
it
may
be
added,
all five
N o rfo lk a W e s te rn R y.8 e p t.2 4 ,1 9 0 1 N o e x te n s io n p erm itted , i ^ o n s e c u t i v e
I. years.
of the agreements provide that the trustees shall fill
P r e fe r r e d s to c k is t o e le c t a m a jo rity o f
t h e d ire c to rs fo r th e su cceed in g yea r, vacancies in their number, there being only one excep­
N o rth e rn P a cific K y . ( a fte r te r m ln a - .
in a n y y e a r tw o su c e ssiv e q u a rte r ly
item o f T o tin g t r a i t ) . ....... ............. .
d iv id e n d s o f 1 p e r c e n t ea ch s h a ll n o t
tion, in the case of the Northern Pacific. In this in­
l
b e p aid in cash .
x PrR r to Ja n u a ry 11602 t h e tr u s t can b e term in a ted o n ly w ith t h e c o n s e n t of stance, the successor of one of the trustees (Georg
two-third# of each cl a#* o f th e c e rtific a te h o ld ers; a f t e r th a t d a te b y t h e t r u s ­
t y a t th e ir d is c r e tio n .
Siemens) is always to be named by the Deutsche Bank
T B y r<*t4* o f tw o th ird - in in te r e s t o f c e rtific a te h o ld e rs o f ea ch c la ss , o r
ROU». «- m

roM cn t* ark d ir e c te d bt a t s w w x s r m t s .
Coal road s—
Milts-

Yondertnil rtKXil*—

w h e n e v e r d iv id e n d s p aid fro m tim e t o tim e on. th e p re fe rre d s to c k s h a ll h a v e
tqnrt e«1 m t h e a^grecrate * per cen t o f th e p a r v a lu e o f t h e stock , o r w h e n e v e r
d iv id e n d s sufficient w ith th o s e a lre a d y p aid t o e q u a l su c h 20 p e r c e n t s h a ll b e
fu lly g u a ra n te e d —b y r-r at th e in s ta n c e o f h o ld e rs o f a m a io ritv In terest in t h e
e -m r s o n stock at a n y tu n e p rio r t » F e b ru a r y 10 18 J9, an d th e r e a ft e r o f h o ld e rs
at
o f such s to ck — in a n y su c h c a s e t b e tru s t sh a ll end.

Confining our attention for the moment to thostooks
fully trusteed, we learn from this table several facts of
interest. In the first place, unless (which is quite un­
likely to happen) the voting trustees should exercise
their option of terminating the trust at an earlier date,
all five of the voting agreements must continue in
operation for periods ranging from about two years to
four and one-half years from the present time. The
Northern Pacific trust will expire positively Nov. 1
1901. The other trusts will continue beyond the dates
named in the table for such further period, if any, as
shall elapse before the payment of the full dividend on
the first preferred stock, for one year in the case of the
Erie and the Southern Railway (the dividend for the
latter to he on the preferred stock, there being only
one class of preference shares), or for two consecutive
years in the case of the Reading and the St. Louis &
San Francisco,
Before the several voting trusts,
therefor**, come to an end, our great depression should

of Berlin,
The voting trust under which the shares of the
Oregon Railroad & Navigation Oo. are hold is quite
unlike the other voting trust agreements. Its object
is not to place the company in the control of a board
of trustees, but to ensure to the preferred stock­
holders for a certain time the right to elect two-thirds
of the hoard of directors. The preferred shares of the
•Norfolk & Western also have this right until Sept. 24
1901, “ unless full yearly dividends at the rate of 4 per
cent per annum shall have been paid on the adjustment
preferred stock for three years before the expiration of
that period.” The Northern Pacific preferred shares
likewise [after the expiration of the voting trust] are
to elect a majority of one in the hoard of directors for
the succeeding twelve months whenever in any year two
consecutive quarterly dividends at the rate of 4 per cent
per annum shall not have been paid in cash ; but only in
the case of the Oregon Railroad & Navigation Oo. was
it thought necessary to accompany this right with a
voting trust. The provisions, however, which were
cited at some length in the I n v e s t o r s ’ S u p p l e m e n t

Ma t 1, 1897.]

T H E

C H R O N IC L E .

last week explain this necessity, the right given to
the common stockholders of terminating the trust
through payment in cash or through guaranty of
dividends on the preferred stock evidently requiring
the intervention of a trustee. Nevertheless the voting
trust here has nothing in common with the other vot­
ing trusts which we have described. W e may say, how­
ever, that there seems to be a certain element of justice
in allowing the preferred shareholders special voting
rights, with or without a voting trust, in order to en­
sure their receiving fair treatment in the matter of
dividends.
W e still believe that either through an act of Con­
gress or a decision of the courts the railways will soon
he established in their right to give the country fair
and equable rates by means of pooling or traffic asso­
ciations. But, be that as it may, the voting trusts of
the class first mentioned will, as we have seen, remain
for a considerable time to exercise a steadying effect
on rates.
TH E M E X IC A N C E N T R A L R E P O R T .
W e have been favored with an advance copy of the
annual report of the Mexican Central Bailway Com­
pany, issued under date of April 23d, and print it on
a subsequent page. As was clearly foreshadowed by
the company's monthly returns, the year was marked
by further decided growth in the gross receipts, indi­
cating continued expansion in the company's business.
This growth in the revenues of the system has been
commented on by us in previous years, and has been
a marked feature of the company’s affairs through
almost its whole history. Take only the last five
years from 1891 to 1896 and we find that the gross
earnings have risen from $7,374,538 to $10,208,020,
an addition of almost 40 per cent. During the same
period the average mileage operated increased only
from 1,665 miles to 1,869 miles, or hut 12 per cent.
Of the gain of $2,833,482 for the five years, $712,155
occurred during 1896, the year under review. It so
happens, however, that this latest addition was mainly
the result of exceptional conditions, the road doing a
large extra amount of business at very low rates, so that
when examination is made of the net earnings it is
found that this expansion in the business of the road
during 1896 was really of no benefit to the company,
net earnings having actually fallen off. In other words,
while the total of the net in 1895 was $3,896,475, in
1896 the amount was only $3,463,747. In brief, though
the company had $712,155 of additional revenue, this
was accompanied by $1,144,882 increase in expenses.
The bulk of the late year’s gain in gross earnings
(or to be exact $437,767 out of $712,155) occurred in
the revenue from international business. There were
two reasons for this. In the first place the rate war
which broke out between the different Mexican roads
in 1895 was not brought to a close until December 1
1896, resulting in the diversion to the port of Tampico
of a large share of the international freight traffic into
Mexico; much of this business, the report tells us, was
carried at low rates, thereby causing a decrease in net
revenue. In the second place there was a large increase
in the movement of corn from the United States,
brought into the country (owing to the drought pre­
vailing in Mexico) free of duty under Government or­
der. Rates on this traffic necessarily were likewise
very low. A t the same time the drought, in having
caused a total or partial failure of crops in the territory
ributary to the Mexican Central, reduced the earnings

8 2 7

from local agricultural freight during the year. Under
normal conditions the increase in revenue from the in­
ternational corn movement should have accrued from the
local traffic. Thus the situation was that the company
not only lost the local haul on such business, hut that
the traffic was carried at reduced rates of transporta­
tion, producing little or no profit.
Besides this the drought added directly to the cost
of operating. In other words, the lack of rains in
Mexico and the consequent scarcity of water caused
much difficulty in moving traffic and largely increased
transportation expenses, the failure of the ordinary
sources of water supply compelling the company to
haul water from place to place. The report says the
greatest difficulty and expense were experienced on
the Tampico branch, where the traffic was double that
of any previous year. A t one time no water for loco­
motives at Tampico could be obtained at any nearer
point than Las Palmas, seventy miles distant. A
steam tug service had to be established for about six
months of the year, hauling water in barges for forty
miles from up the Panuco River and several miles of
new pipe line had to be laid on the Tamasopo Moun
tain to secure increased water supply. The difficulty
has now been remedied by the construction of a pipe
line about ten miles in length, costing $90,000 in
Mexican currency, conveying water from the Tames i
River to Tampico, which m il insure an abundant
supply and stimulate the location of industries at that
terminal.
The rate war on international freight traffic, as
stated above, was brought to a close on the 1st of last
December by the re-forming of the old Mexican Traffic
Association, and therefore the outlook in that particu­
lar has changed. The new agreement is stated to be
more advantageous to the Central than the one ter­
minated June 1 1895, and the Central people feel that
the contest has fully vindicated the position taken by
them. They think that whatever cost the disruption
of the old Association may have been to the Central,
the company must be considered amply repaid in the
impetus given to the port of Tampico, now well estab­
lished as the port of largest tonnage and the most
important and most convenient of the Mexican ports.
The growth of Tampico has certainly been nothing
less than phenomenal and the management have rea­
son to feel gratified over the great success of their
efforts to develop the business of that port. From a
table presented in the report, it appears that the value
of the exports through Tampico increased from $15,546,228 in the year ending June 30 1895 to $23,920,464 in the year ending June 30 1896; the exports
through Vera Cruz at the same time falling from $ 2 7 ,413,009 to $22,354,298. Thus the exports through the
new port were actually larger than through the old
port. The imports through Tampico increased from
$3,642,007 to $8,685,442, while the imports through
Vera Cruz declined from $16,123,505 to $15,296,544.
Combining imports and exports the total at Tampico
rose from $19,188,235 to $32,605,906; that at Vera
Cruz declined from $43,536,514 to $37,650,842. In
1895 the total business through the two ports was
$62,724,749, of which 30'59 per cent was via Tampico,
and in 1896 the total business amounted to $70,256,748,
of which 46-41 per cent was via Tampico.
On account of the falling off in the net earnings,
the deficiency in meeting the obligatory interest
charges was larger in 1896 than in 1895. The loss in
net, in Mexican currency, we have seen, was $432,728.

THE

82 d

CHRONICLE

Iu
SuUs tnom<y the loss was $221,641. The
charges (it - < mi'>teliaaeou8 interest) wore not greatly
chan.n l. having been $3,882 less than for 1805. The
final result was a deficit of $48*5.011 for 1806, against
a similar deficit for 1895 of $265,252. This deficit in
both vt-ars was met by amounts withdrawn from the
Subsidy Trust Fund in accordance with the terms of
the Trust Indenture. The company is fortunate in
having this trust fund to fall hack upon. The balance
in the hands of the trustees after providing lor the
deficit in !**,»; is $3,089,416. But it is important to
note that at the time the settlement of the subsidy was
mad- with the Mexican Government, $0,122,646 of
the proceeds were invested in priority mortgage 5 per
cent bonds to the par value of $5,597,000. This is an
inv« #tmcnt for the same purposes as the Subsidy Trust
Fund, and altogether the company lias over nine mil­
lion dollars to draw upon to meet future deficiencies of
revenue.
_
Book

N o tic e s .

M o s K r u n S v - t e m s o r t h e W o u l d .— a stu d y o f p re s e n t C u rre n cy
By>t«m s tun! Si HMttca! I o fo r m a tio n re la tiv e to th e v o lu m e o f th e
W o rld ’ * M on ey. B y M a u rice L. M u hlem im .
R e v is e d E d itio n
C h a r m s It. N’ n o u . , p u b lish e r , 189 B r o a d w a y , N e w Y o r k . P r ic e
C loth , s ta m p ed In ftoUl, $ 2 ; fu ll m o r o c c o , g ilt ed ges, $ 3 ,

A copy of this book has been on our desk for some time.
It is a revised edition of a well-known and very useful work.
The typographical appearance o f the book has been further
Improved. Mr. Charles H. Nieoll is the publisher, and he
has succeeded in turning out a very creditable affair. But
the mechanical execution o f the volume is only in keeping
with its character and contents. The author, Mr. Maurice
L, Muhleman, is the Deputy Assistant Treasurer of the
United States at New York, and for a period of a quarter of
a century he has been connected with the Treasury service
in one capacity or another. Besides the experience and
knowledge gained in this way his natural abilities and bent
of mind welt qualify him for the task which he has under­
taken. We are hence saying merely what every one will
admit- when we state that the result of his labors is a very
meritorious work. His aim has been to describe the various
monetary systems of the world—briefly, yet accurately and
adequately. It should he understood that he does not write
in a controversial spirit, the purpose being to produce a
standard reference authority whose statements and facts
will be accepted without question. In the present revised
edition tin* monetary statistics of the United States are
brought down to the close of the fiscal year (ending June
30j 1898, and those of other countries to dates as nearly cor­
responding thereto as possible. A chapter has also been
added upon the law and history of legal tender in the
United States.
_______
T h e (V im m k b c U i . Y e i it B o o k .—A S ta tistica l A n n u a l r e la tin g t o th e
o n w o r r w , In d u stries, a g ricu ltu re , b a n k in g , cu rre n cie s , in v e s t
meat*!, ra ilroa d s , sh ip p in g . In su ra n ce, p o p u la tio n , A c., &a., o f t h „
Unite*! Sl it*', aud fo re ig n co u n trie s . E d ited b y W a lter A . Iiod sw o r th , l’ h, b . P u b lish ed b y th e J o u r n a l o r C om m erce a n d
< ■ nivE an u B otj .k tis . P rice in c lo t h , $1 50.

[V ol . U U V .

tures and debt; Agricultural products and crop movements;
Statistics of mining industries; Railroads, telegraphs and
postal arrangements; Shipping, canals, lake commerce; Coal,
iron and other metal trades; Cotton, wool and other textile
trades; Imports and exports o f United States, by articles and
countries; Grain and provisions trades at chief points; Statis­
tics of leading industries; Precious metals, their produc­
tion, coinage and distribution; Full details relating to silver;
Statistics relating to all our forms o f money for the last
twenty years; W orld’s stocks of money; Statistics of banking
—national. State., private and savings; Wages, strikes and
lock-outs; Commercial failures in 1896 and previous years;
Wail Street in 1898; Prices of 180 articles at New York, daily
and weekly, in 1896; The Wilson tariff in full.
In a work of this class accuracy and trustworthiness are
o f course prime essentials. Hence the fact that the immense
mass o f statistics which lias been thus brought together
has been compiled by the publishers of the "Journal of Com­
merce and Commercial Bulletin" gives added value to the
work, for the high Character and reputation of that journal
are facts within the knowledge o f the whole mercantile and
financial world,
P jsookeoinqs o v th e S econd a n n u a l Con ven tion o f t u b
P en n sylvan ia B an k ers ’ A s s o c ia t io n —H eld at P ittsbu rg, D ooem ber 16 aud 17, 1893. With press greetings, afterm ath, socia l
features, constitution and by-laws, and group d irectory and m em ­
bership. Philadelphia: P ublished by the P en n sylvan ia B a n k e r s '
A ssociation , 1897.

This is a very attractive volume, and useful as well. Much
is to he said in favor o f the practice of presenting the re­
ports of bankers’ conventions in bound form. The proceed­
ings of such conventions always embrace a great many fea­
tures and occurrences which it is pleasing or desirable and
useful to recall. A pamphlet report o f course permits o f
ready reference for this purpose the same as a bound vol­
ume, but such a report being in a less enduring form, one is
apt to throw it away, whereas when the record comes in th e
shape of a handsome book, like the present, a place is
once made for it in the library. In the case of the Pennsyl­
vania Bankers’ Association, which we are glad to hear is in
a flourishing and progressive state, the act is peculiarly
appropriate ; for, as all our readers know, Pennsylvania has
played a very prominent part in the banking history o f the
country. What adds in this instance still further to the
value o f these annual volumes is that they contain
sketches of the lives of eminent Pennsylvania bankers.
Last year Robert Morris, the financier of the Revolution­
ary War, formed the subject of the sketch. This year the
life o f Stephen Girard, the financier o f the W ar of 1812, is
reviewed ; there is also a portrait o f Girard, and views of
his banking house, and of the college founded by him, and
of the statue of him to be unveiled in Philadelphia on the
20th of the present month.
S u gar : A N ew and P rofitable Industry in the U nited States fo r A g rl"
culture, Capital aud Labor, to Supply the H om e M arket yearly
with $100,000,000 o f its Product. B y H brrbk t M y r ic k , O range
J odd C o m pa n y , N ew York and Chicago, publishers; price 50 c e n t s .

This is the title of a book which gives an interesting in ­
sight into the possibilities of the domestic sugar industry.
The bulk o f the work is devoted to the beet sugar industry in
America. It first tells what has been accomplished in the
United States and then shows how the industry has grown
in each State. The culture o f the sugar beet under Ameri­
can conditions is treated with great thoroughness. This is
followed by a chapter on the commercial aspects of the beet
sugar industry, including cost and profits of the beet to the
grower, its advantages, labor and capital, with instructions
about starting sugar factories, cautions to those new to the
industry, etc. The author is Herbert Myrick, editor o f the
“ American Agriculturalist.” The book is copiously illustrated
with photo-engravings of cane sugarhouses and beet sugar
factories, cultural processes, etc. It contains 78 illustrations
and 108 large pages,

A year ago we had occasion to speak in favorable terms of
the first number of this new statistical annual. The second
number h now before us, and it is even larger and more com*
pr**lu*nsm> than the first about two hundred pages having
been added, making the size of the book 640 pages. It is
very neatly gotten up, the form and style adopted for the
first volume having been retained, The scope of the work
ifi much >.•\tended. It aims to cover not merely one depart­
ment of industrial and financial affairs, hut all departments.
Nor are the statistics limited to any one country. All
h* lending countries find representation, the first
l :i"» pages* giving a very wide range o f data con­
cerning fully forty-seven foreign nations.
Very natur­
W$o neiarg s©omroetxial^uglts ft n ruts
ally t h e most spaev is devoted to the United States,
an i here it is not easy to Indicate the extent of the matter
London, S aturday , April 17,1897.
c unturned in the hook. The following is merely an enumera­
(From otir ow n correspondent.]
tion „ f some of the more important subjects embraced in it :
During the week business has beau aim is; at a standstill,
Immigration and emigration; Political organizations and in­ partly because of the Easter holidays, but generally owing to
stitution*; National party platforms; Chief officers of Gov­ the political apprehensions, which continue as great as ever.
ernment and members o f Congress; U. 8. Revenue, expendi­ At the end of last week a band of irregular Greek troops

May

1, 1897.]

THE

CHRONE LE

invaded Turkish territory and on Saturday, when the news
became known, there was a general fall upon the bourses,
and some decline likewise here in London. The Greek Gov
ernment disavowed all responsibility for the act, and it issued
very striDgent orders not to advance into Turkish territory,
The Turkish Government has so far accepted these declara­
tions, but every day it is expec ed an encounter will take
place. Greece has now about 80,000 men in the field, and as
she is exceedingly poor and has practically no credit abroad,
it is impossible that she can keep such a force under arms
Very loDg unless, indeed, she can occupy some portion of
Turk’ y and support them by requisitioning. Meamime the
six great Powers have notified both Greece and Turkey that
neither will be allowed to reap benefits from any conquest
made.
In spite of the menacing appearance of things, the opinion
is still very strong in the city that there will be no general
European war. Greece and Turkey may fight; everybody
allows that to be possible, but that no leading Power will
interfere is the general opinion of the great city houses, and
the city houses ought to be well informed, as they or thi+r
correspondents on the Continent must provide the money
that will be nquired. What perhaps largely confirms the
belief of the great city houses is that the Russian Government
has just concluded an arrangement in Berlin for a lean of
£10,000,000 sterling. The loan is nominally, at all events, a
railway loan, and it is guaranteed by the Russian Government.
It is to bear interest at 4 per cent. The French market is not
to take any part io it.
The Austtian Government is likewise anxious to raise a
loan. Just for the time being it does not think the mqprent
favorable, but it has placed short treasury bills both here and
in Vienna. The instant that politics become smoother a loan
will be brought out ; and Germany and Italy are likewise in
need of loans; from all which the great city houses infer that
there will be no war, and that, in fact, they have it in their
power to prevent war. For instance, it is understood that the
German bankers have made it a condition with the Russian
Government that the loan is not to be brought out if politics
become worse.
The city is likewise hopeful that there will be a peaceful
settlement of all the questions at issue in the Transvaal.
President Kruger has disappointed the hopes of all who wish
to see the independence of the Transvaal respected. Last
year be acted witn wonderful statesmanship but this year
his government has apparently been actuated by the desire
to make matters worse than ever. Still the best opinion here
is that a compromise will be found which will satisfy reason­
able people both among the Boers and the Uitlanders.
In India there is no change. Uufoiiunately the spring
crops have been bad, and now we can hope for very little
alleviation of the famine until July or August. The plague,
too, is not abating, as was hoped, and the banks of both
Bengal and Bombay keep their rates of discount at 10 per
cent.
This week there is a strong demand for gold, both for Aus­
tria and for Japan. Hitherto both countries were satisfied
with buyitg bar gold in the open market, but this week the
urgency has become such that they have taken gold from the
Bank. Austria-Hungary is professedly completing the gold
accumulation necessary to carry through its currency refoim,
but very many people think that the real object is to increase
its war chest. At all events the Austrian Government, not
thinking the time opportune for a puolic loan, has sold a con­
siderable amount of three and a-half per cent Treasury bills,
both in London and in Vienna, and the pay ment for these
bills is being taken in gold. It is probable, too, that the Rus­
sian Govt rement will take gold if its loan is raised in Ger­
many. Consequently, the rate of discount in the open mar­
ket is slightly firmer. But the reserve of the Bink of Eng­
land is still so large and speculation is so completely paralyzed
that attempts to strengthen rates simply became there is a
stronger demand for gold for abroad are not likely to suc­
ceed. If, indeed, the fear of a general European war were to
become more acute, there would be a sharp rise in rates, but
at present the city does not believe that a general war will
take place.
The Bilver market is quiet, but somewhat steadier, and
there is no change in the Indian money market. The rates
are still as high as ever, and money is in exceedingly good
demand.

829

Business on the Stock Exchange is almost at a standstill.
As regards the American market, people are holding alto­
gether aloof arid the telegram from Washington to the effect
that two Commissioners have been appointed with a view to
reopening the Behring Sea Fishery Question has made a very
bad impression here. The general public is unwilling to
believe that a premature demand for revising the regulations
will be addressed to this Government, but fer all that the
public mind is dis'urbed by the telegram from Washington.
In international securities there was a sharp fall on Satur­
day, but since then there has been a recovery in Paris. Here
in London exceedingly little has been done for years in inter­
national stocks, and the market consequently follows the
movements in Paris, whether they be up or down.
South African gold, diamond and land shares are very de­
pressed. In some cases the prices have been lower this week
than at any time since the Jameson raid. Partly, no doubt,
the fresh fall is due to the fear that President Kruger may
confiscate the concessions of those companies which were
especially made use of for importing arms. Partly it is the
result of the weakness in Paris. The long continued uncer­
tainty in Southeastern Europe specially affects the Paris
Bourse, which is the great market for Turkish, Greek, Bul­
garian, Servian and Roumanian securities. These of course
are dealt in elsewhere, but Paris holds much more of them
than any other market. The professional operators in Paris,
therefore, have suffered very severely during the past year
and a-half, and they sell whatever can be disposed of in Lon­
don whenever an opportunity occurs. The Paris market, in­
deed, is in such a state that the Russian Government has
found it necessary to borrow in Berlin rather than in Paris.
British securities are steady. There is not much doing, but
they are all fairly well maintained, though the prices are con­
fessedly too high.
The imports since January 1 have been as follows :
1897.
I mports .
January .........
February ___
VIarch.......... ..

1896.

Differ m et.

39.975,668
37,245,161
40,655,114

38,473.856
35,476,736
38,366,750

+ 1.50 1,8 12
+ 1,768,428
+ 2,288,364

P er Ot.
+ 3 -9 0
+ 4 -9 8
+ 5 -9 6

3 m on th s... 117,833.883

112,317,342

+ 5,516,521

+ 4 -9 1

2

2

2

The e x p o r t s since January 1 have b e e n as follows :
Expor ts .
January..........
February . . . . .
Vlarch..............
3 months

.

1896.

1897.

Difference.

19,762,378
17,864,6*2
21,647,269

21,146,491
19,704,095
20,449,623

—1,384,113
—1,839,413
+ 1,197,646

P er Ot.
—6*54
—9-33
+ 5 -8 5

59,293,187

81,300,209

—2.002.022

—3 26

2

2

2

The re-exports of foreign and colonial produce since Janu­
ary 1 show the following contrast:
1897.

Difference.

1896.

January.........
February. ...
tfaroh.............

4,177,825
5,224,138
5.270,853

4.806,384
5,617,593
4,606,122

—828.559
—39 3,455
+ 664,731

P er Ot.
—13*08
—7*00
+ 1 4 -4 3

3 m onths..

11,649,976

15,030,099

—380.123

—2-52

Re-e x po

rts.

2

2

2

The “ Railway News ” of London reports the traffic receipts
for the week ending April 11 of 55 railways of the United
Kingdom which make weekly returns at £ 1,584,702, against
£1.6o3,175 in the corresponding week of last year, a decrease
if £18,473. For the fifteen weeks of the current half-year
receipts were £33,474,851, an increase of £440,019.
The rates for money have been as follows :
Interest allowed
for deposits by

Open Market Hate*.

Trade Bills.
Bank Bills.
Disc}t H'se
1 Three Four
Stock At [7 to 14
Three Four
Six
Six
IQ Months Months Months Months Months Months Banks. Oall. Days.
*

Mar.
**
Apr.
*•
“
*

1H IX
IX IX
IX IX
1
1
tx
1
X 1
1 1X®1 6-18.

2 &2 H
IX
IX
IX
IX
*
*
2
2
m
IX
IX 1X@1X 1W@194
+
X
1X01X 1&<*2
IH
T
IX
+ 1 1-10@1X
* 1 S-16@1X-

19 3
IX
*
26 3
23
1H
l 1-16
0
16 •<JW
1 7-18®-lX.

IX

The Bank rate of disoount and open market rates at th e
chief Continental cities have been as follows:
Rates of
Interest at
Parte... ...........
Serltn............... .
la m b u r s .......
Fran kfort.. ..
A m sterdam ....
Brussels..........
Vienna....... ..
i t . Petersburg.
vladrld. .
1on«nh'igon

April 16
Bank
Rate.

2
8
3
3
3
fl

4
6
5
4

April 9.

Open Bank
Market Rate.
m
2X
2*
2X
«X

2
«x
5X
4
4

2
SX
3X
3X
3X

8
4
0
6
4

April 2.

Open
Bank
Market Rate
m
2X
2X
2X
8X

2

sx
6X
4
4

2
SX
3X
3X
8X

3
4
0
6
4

Mch 20.

Open Bank
Market Rate.
IX

2X
3
sx

2
2

sx

5
4

2
3X
SX

sx
8H
8
4
0
6
4

Open
Market
IX

3
3X
sx
2
2

SX

6X
4
4

THU CHRONICLE.

830
T h e f o U . j w i uag

return shows th# position oi the
Bank rate o f discount, the price of
&c ,t c.-ui{>cin>.i with the last three years :
1895.
InO?
I«l«
4f*r« If.
J|Ml1 tl.
dpHt.lt:
M
k
k
10,<1*»848
» , $ iki,e a t * t s « i , w
$*0®
7»P‘ P.Hil
ie.uij.stu is,»T3,aS9
MM47.505
ss, sit , » :
M jn iw
&%&** ’iepwtiiM
K u g la n i, th e

<& A b e l l

A.

st*«

8,803,010
£8.2 46.716

as

23 338,070
31,306,575

63*
a
100*

28*6

OT.e87.000 152.6S3,000

fo llo w s

u id e r

d a te

of

April 11:
i iota - I n cunm
eonai ancnce
tinesoe o f faer
increased
Continental a
demand,
Gold—In
eased continental
s p an a, the
m e «eastern
«w ru
Xmxer*
Haver* wore
were obliged to have recourse to the Bank o f £
L inland,
'piano which
wbtob
h*> i*oid
.... d In
in bar puld
►old ninoc
am.-.' our loat
last 4981*000.
£ 9 9 1 .OvO. Nearly
hearty all of
o f this has
ha*
•i . East, hut part thu»
.o a oal^
a Ito
n VVienna.
it
Artie u» the
b.io art«
gone
£ 8 0 ,5 t0 has been
received as the bank. A rriv als: Au» trails, £ 1 3 0 ,0 ^ ) ; Cape T>»w d .
A168.<*K»; total, x *295,000. S hipm ents: Bombay, £ 18,000; Kobe,
1 1 2 8 , 0 0 0 ; t o t a l. £ 1 * 1 , 0 0 0 .

t

„

*

,

MlSv^r—Under pressure o f m ore than one order for immediate (lbllv
e r i, silver slightly hardened during this week to 28L2d. Since th**n
ft.lirr* ia'.. ag*!ti preponderated, ami to-day the price is '2s ■I*u. ih e
ladiau n t i c t*. day is 78 R » per 10J tolahs. arriva ls: Now York,
* 1 * 7 .<H-0, Shipment# : Bom bay, £ 1 0 5 ,0 0 0 : Calcutta, * 1 7 ,5 0 0 ; total,
£ 1 * 2 50 0

M exican Dollar# -T h e re are no changes to report in these coin, and
the nearest price 1# 2?% d. Shipments to Penang, £7,500
The q u o t a t io n s fo r b u llio n a r e r e p o r te d as fo llo w s :

April
COLD.
8.
London Standard, ^5r"
>. d. ( d.
Bar gold, fine— ox. 78 0 7711%
B v gold, parttng.oi. 78 0% 78 0
Spanish, old......ox. 70 0% 76 0%
Mew.............. os. 76 1% 70 1%
0 . 8. gold coin.. .ox. 76 5% 76 5%
Oeraru gold coin.ot. 76 3% 76 3%
French gold ooin.ox. 76 3% 76 3%
K u g tta h

F in a n c ia l

LOXDOB.

Bat.

28%

d l a r l t e t * —P e r C a b le .

j Mem. I Tut*.

28%

Wed. Thurs.

28*1# 28%
28%
111% 111% 112
1U1%6 Uli%# 112

Fri.
28%,

112%
HIM 1117,
112%
111% 111%
102-45 102-60 102-7 r 102-82 102 92 102-95
10% 10%
10%
10%
10% 10%
19%
10% 19%
19%
50
50%
50%
52%
53%
53%
17% 17%
17
17
17%
73%
73%
74%
74%
74%
74%
38%
38%
38%
38%
39
12% 12%
12%
12% 12%
12%
28%
29
29% 29
29
29
94
94% 94%
94
94%
94%
167%
167% 167%
168
44%
44%
45
44%
44%
43%
60% 70%
70%
70
70%
71
10%
11
11
11
11

100%
13%
24%
35%
54%
9%

7%

26
fi%
12%

Week.

initial (i.

Since Jcm .I.

Week,.

Since J an.1.
$15,276

$521,995
West In d ie s............

$10,930

453,470

$25,090

South A m erioa.......
All other oountries.

5,000

110,786

29,605

Total 1897.........
Total 1896........
Total 1895........

315.93G
543,210
978.345

$1,080,251
16,027,85S
32,803,428

Exportt.

Silver.
Ure.rtt B r i t a i n .

France......... .
Germany..........
West In d ies....
M exico.
South A m erloa.......
All other countries.
T otal 1 8 9 7 Total 1 8 9 6 Total 1 8 9 5 -

$54,895 "$1,162,369
20,595 18,005,579
932,903 15.140,833
Import*.

Since Jan. ]

Week.

....... 10
851,380
31,400
169,000
95,303

$958,250 $14,170,360
431.000
5,750
*‘ " i 7 5
43,527
18.835
$958,425 $14,669,172
984.484 16,567,557
958,040 10 .0 7 7 .2 lo

Week.

Since Jan. 1.
$2,022

"i'.ooo

$4,990
33,286
41,914
150

05,463
379,598
264,991
6,340

$80,340

$719,414
785,087
447,464

20,261
31,450

Of the above imports for the week in 1897 $39,846 were
American gold coin and $1,050 American silver coin. Of the
exports during the same time $15 930 were American gold
Silver.
April April coin.
"8.
London Standard. 15.
Auction Sales.—Among other securities the following, not
d.
d.
regularly dealt in at the Board, were recently sold at auction:
Bar sliver, fine... ox, 28he 28%
Bar sliver, oontaln'g
By*Messrs. Adrian H. Muller & Son :
do 5 grs. gold.ox. 28 "ha 28%
do 4 grs. gold. ox. 28% 281*18
Shares.
Shares
do 3 grs. gold.oz. 28®i# 28%
36 R ichm ond Co. Gas L. Oo. 80
63 E quitable Securities Co.,
Cake sliver........oz. 30% 30»,6
oitnm on .................. *240 lot,
15 N. Y'. Hemp A F lax Mfg,
Mexican dollars.oz, 27% 27%
Co. in liquidation. $500
178 S e a v e r P ro c e ss L a d in g

he daily closing quotations for securities, &o., at London
The
«re r sported by cable as follows for the week ending A p r . 30 :
Bttver, per o u n c e .....A
Eonsoli., new, 2% p.ota.
F or a cco u n t...............
rr-ch rente# (in Pari#) fr.
A tab. Top. A Santa Fe.
Do
do
pref.
Oaawdian P acific.........
Chesapeake A Ohio___
Chic. MUw. A St. Paul
Denv. A R io Or., p ref.
Cite, com m on . . . . . . . . .
l » t p referred ............
IHinoi* Central............
Lake S h o re ...................
Louisville A Nashville
M exican Central, * « ..
Mo. Kan. A T ex., eom.
K Y. Cent*! A Budoon
M. Y. Ontario A West’ n
Norfolk A W eefn , pref.
Ko. Pan. p r e f t r . root#.
P enn sylvania................
Phils. A Read., per #h-.
South’n Railway, oom..
Preferred.....................
Onion Paelflo.................
Wabash, preferred.......

E zporti.
Sold.

p,879,093

2
105*
•-------3OH0.

*
not*

w rite

EXTORTS AND IMPORTS OF SPKCIS AT MEW tOIUC

£4,858,806

t7.&30.74S
36,766*003
681-16

...
,
S» 7-144
W .
ia r iu * H o st# l * w m l ...............»5«,4W..OO H S.ISS.I1W

P ix le y

#4prtJ18.

17.PJW.036 a 1,8 M.lto

OT.B5UMI
sa.(M3»*W
4T.MS.St0

Mf

M essrs.

Bank of , The following table shows the exports and imports o f specie
consols, at the port of New York for the weekending April 24 and
since January 1, 1897, and for the corresponding periods in
1898 and 1895 :

I8.672.02t

wc&rttlM . . . . .
OlMMMxUiiM
gk.357.at-4
g4M«rr« gMfttfp
0 ‘*ln..
J4JWJ.81S
GwaJk eam«>a, bou^
Oeop,r®a*ft*toUabttUi** -P. «• s i *
3*
lA a tr* {«
.jwif c«aL
it* t.t«
©s»*di*. *H t>«r pent

[VOL. L X I V .

101%
13%
*24%
35%
54%

9%
8%
28%
5%
12%

101%

54%

9%

101%
13%
24%
35%
54%
9%

101%
13%
24
35%
54%
9%

102
13%
24
35%
54%

26%
5%
12%

26%
5%
12%

26%
5%

8%

8%

9%
8%

12%

® 0 t«iacrcialiiud l^Uscellaueaus J|.eu>0

eaok
........................*110 lot
Co. $10 eaoh..............$180 lot
10 Texas L oan A gency,C or­
Bond*.
sicana. T ex a s................. 14
16 0 . 8. Life Insurance Co.. 117 % $ 1,000 Selah V alley Irrigat’n
Co. 1st*..... ...........................*31 lot
25 0 . 8 , Mtge. & Trust C o ..230
24 People’s B an k..................215% $ 2 ,0 )0 Saint A nthony |Park
50 Consol. Jos Oo. of N. Y.,
Co, 1st 6 g ... .......................... 80
preferred. ...................... 75
$1,000 Ohio. & Atoh, B ridge
3 Columbia B a n k ...............167%
Co 1st 6s, 1915.......... .......... 36

City Railroad Securities—Brokers’ Quotations.
Bid.
Atlan. Ave., B’k ly n Oon. 5#, g „ 193X..AAO $103
Inspt. 58, g., 1934..J&J
Block. St. A F u l.F .-S tk . 30
1st mort., 78,1900. J AJ $106
Brooklyn Rapid Transit. 20V»
B'way A7th Ave.—stock, 201
lo t mort., 5 b, 1904. J AD $108
2d mort., 6s, 1914.JAJ $109
B'way 1st,5s,guar.19^4 $115
2d 5#,tot. as rent’ l. 1905 $104
Oonsol. 5s, 1943...JA B ll8*a
Brooklyn City—Stock ... 181
OonooL 5s, 1941...JAJ 113
Bkiyn,Cro#8t'n58.1908 103
Bkl’ rLQ'ngOo.ASnb.lat 103
Bklyn.C. AN ’ vrt’wn—stk 160
58. 1939 ........................ $110
Central Crosstown—Stk. 195
1st M., 6#, 1922...MAN $110
Oen.Pk, N. AK.R1T.-Stk. 164
Consol. 7s, 1902... J AD 112
Oolumbna A 9th Ave. 5». 116
Ohrist’p’rAlOth 8 t.-8 tk . 155
1st m ort. 1 8 9 8 ...A A O 101
i And accrued inseres-..

Ask.

B id .

152
lot, gold, 5#, 193a. J A h 114
104
S crip ..........................
tlOl
SS Klghth Avenue—S tock..
108
Scrip, 6s. x 9 l4 ...... .......
21 42d A Or. St. For.—Stock 325
203 42d St. Man. A SUN. Av. 40
108
1st mort. 6s, 1810.MAB
112
2d mort. income 6s. J AJ
118 Lex.Ave.APav,Ferry 5s. 116
108 Metropolitan T raction...
120 Ninth Avenne—Stock... 160"
182 Seoond Avenue—Stook. 125
1st mort.,5s,1909.MAN 108
105
Debenture 5#, 1909.J AJ 102
105 Sixth Avenne—stook ... 170
Third Avenue—Stock .. . 165
il2
1st mort., 5s. 1937. J AJ 121
Twenty-Third St.—St’k 300
100
Deb. 5#. 1903.............
169 0u lon Ry—S took ..........
115
l i t 5s, 1942.................. §104*
116i* Westoheot’r. l#t,gu.,5#.
160
103

Was Seenrfties—Brokers* Quotations.
Inpottra and Exports for the W eek.—The following are
the nniKjrts sit Now York for the week ending for dry goods
GAS OOMF a NIKB.
GA8 COM PAN 1Jtfe-.
Bid. Aftk.
April 22 and for the week ending for general merchandise
10 4* 105* Peoples'(Jersey OltyJ..
B'klyu
Union
Gas—8took.
April 23, atutj totals since the beginning o f the first week in
B on d s-,.—............ ..... 112 113 WUIlamsbnrff 1st 0a
January,
Pulton Municipal 6 s ,—.
C entra!,...— .
80 * Equitable*..................
Oonantaera’ (Jersey Oity). x?§
FOBBUM IMPORTS AT SBW rORK.
Bonds....... — . ... .......
Jersey Oity <fc Hoboken.,
Metropolitan—Bon da.
Mutual (N. V...................
N. / . <fe fflast Rlv. 1st 5 a.
Preferred ...............
Common. ................
Consol- 5 s -----—
___

102
180
105
245
108

104

Bonds, 0s, 1899
8t% Paul—
-----Bonds, 5 a .....——........
Standard pref
Common.—a.
Western Qa«
Bonds. 5s-.

162
116
103
325
330 *
118
70

116^
1023*
170
127
109
105
180

111 %

103*'
103

Bid.

170
102 *

17^

212

213
106

52
74
76
1896.
1895.
1894.
114 115
255
109
96
$1,714,31!* *2,5-3,762 $1,076,801
80 91
66
9
« r
7,163,798
7.065,079
8,921,942
55^
95
54
90
100 101
Total .... *U.095,2«6 *8,698,197 *9,849,441 *10,593,743
Since Jan. t
Ott <rood*. ... *43,46%.23 1 $48,335,971 *52,983,951
g u u h tu 0
uud
^ iu u n c ia l.
Owa’l BMsr'dlon 120477.474 112,075,216 112,625,554 *29,740,091
109,710,166
Twtwi Ifiwmk, $103,6*2.713 $l%«.411,187 $165,600,505 *134,450,257
S p encer Tr as k & C o . 3
Th- following In a sintomant of the exports (exclusive of
B A N K E R S
from the ja.rr of New York to foreign ports for the
w ,“ -k »• •ling A (nil 20 and from January 1 to date :
V H \\ V O K R
* 7 & a » P IN K S T K B K T ,
■XFO*T» FROM W«W TORK FOB TUB WBBK.
65 State Street, Albany.
I N V E S T M E N T S E C U R IT IE S .
1897.
1896
1895.
1894
GROROM BAROIAV MOFFAT.
ALRXANDKB M. W UITA J »
F*r«n#w*»k.. $0,523,80* $7,785,331 $0,742,755 *0,112,011
Star, reported 113,280,338 113.635.5to 102,29 \9l6 110,231,398
M o f f a t
&
W
h i t e ,
Total 16 w»«k# $121,783,34* $121,42 .841 $109,040,871 *116,313,439
BANKERS,
Th« import* of dry goo 1* for one week later will be found
HAVE MOVED TO NO. 1 NASSAU, CORNER WALL S T R E E T , NEW YORK.
to our report of the dry goods trade.
WvrviMM.

1897.
43,442,36 -i
0 ,<U2,8j 8

I N V E S T M E N T

S E C U R I T I E S .

g b je

83i

THE I HKONICLE,

M a t 1, 1897.J

Posted rates of leading bankers fo llo w :

^ B a n k e r s ' (g a ^ je lle .

A p ril 30.
D I V 1 D E N U S .
Name o f Company.
R a ilr o a d s (S te a m ).

Elmira & W illiamsport.................
K. i . St. L. & Cb., pf., gn. (quar.)
North & West B lan ch.................
Do
do
(e x tra )___
Pittsb’ e Virginia & Charleston
Rom e Wat. « Ogden., guar, (qr.)
B an k s.
Bank o f the Stai e o f New Y ork.
Fouiteentb Street..........................
Lincoln National (q u a r .)...........
Nassau..............................................
National C ity....... .........................
Do
(e x t r a )...................
M is c e lla n e o u s .

Grand Rapids (Mioh.) G as-L___
United States E x p r e ss................
• Less State tax.

Per
Cent.

When
Payable.

Books closed.
(Days inclusive.)

•24* May
1% M ay
3 ) May
1 <

1 Apr. 21 to Apr. 30
1 ---------- to ------- —
1 -------- t o -------------

14

May

15 May 1 t o ----- -----

3
3
3
4

May
M ay
May
May
May

10
1
1
1
1

May
May

20 May 9 to May 20
15 May 4 to May 16

i }
24
14

Sixty Bays.

Demand.

Prime bankers' sterling bills on L ondon..

Apr. 29
Apr. 27
Apr. 29
Apr. 29
Apr. 27

to
to
to
to
to

M ay4 0
Apr. 30
A pr. 30
M ay 2
Apr. 30

4 87
4 884
4 85% ® 4 86
4 85%'®4 85%
5 W * ® 16316 5 15®5 14518
40% ®4031C
40 3s®407,8
Frankfort or Brem en (relchmarks) b ’kers 95% ® 95% «
9511lfl® 95%

The following were the rates of domestio exohange on New
York at the i r der-mentioned cities to-day: Savannah, buying
1-16 disoount, selling par ; Charleston, buying par, sailing %
premium : New Orleans, bank, SI 50 premium ; oommeroia ,
25c. premium; Chicago, 60c. per $ ,000 premium; St. Louis,
50c,@75c. per $1,000 premium.
United States Bonds.—Sales of Government bonds at the
Board include $194,000 4s, coup., 1925, at 123% to 124; $5,000
4s, reg., 1925, at 128; $4,000 4s, coup., 1907, at 112% and
$12,400 4s, reg., 1907, at 110% to 111. Following are closing
quotations :

W A L L STREET, F R ID A Y , A P R IL 30, 1 8 9 7 -9 P. M.

The Money Market and Financial Situation—Public in­
terest in Wall Street investments, which disappeared when
the Supreme Court decision in regard to railway traffic
agreements was handed down, has not yet returned. Busi­
ness in all financial circles is very much depressed, and at
the Stock Exchange is confine d almost exclusively to specu­
lative transactions.
It flueLces which have recently developed, including the
outbreak of war in Eastern Europe and resumption of gold
exports from this country, are relatively of minor import­
ance. The former, it now seems likely, will be o f short
duration; and the latter is not the direct result of an ad­
verse foreign trade balance or a return movement of our
securities.
Gold to the amount of $6,477,000 has been shipped abroad
this week, including $4,000,000 engaged for to-morrow,
not because foreign exchange rates make such transactions
profitable but because there is a demand for the metal on
the Continent and our supply is at the momeot most avail­
able. The sale of bills drawn against these shipments has
lowered the rates for exohange in this market.
It is reported that the Senate Committee on Ways and
Means is hard at work on the Dingley Tariff Bill, and the
hope generally prevails that it will be ready to submit its re­
port in the near future. There is no doubt that large busi­
ness interests are waiting for the final disposition o f that
measure.
Among the interesting statistics made public yesterday
was a compilation of the exports of manufactured goods
during the first quarter of the present calendar year. They
were valued at $06,795,416, which is nearly 35 per cent o f the
total exports. The exports of manufactured goods for March
were $35,847,469, which is reported to be about $2,000,000
more than for any one month in the history of the country.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from U £ to l% per cent. To-day’s rates on oall were 1% to 1%
per cent. Prime commercial paper is quoted at 8% to 4% per
cent.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £201,865 and the percent­
age of reserve to liabilities was 51-91, against 50-98 last
week : the discount rate remains unchanged at 2% per cent.
The Bank of France shows an increase of 2.825.U00 francs
In gold and 1,675,000 francs in silver.
The New York City Clearing-House banks in their statement
of April 24 showed an increase in the reserve held of $3,772,400
and a surplus over the required reserve of $49,257,900, against
$46,966,900 the previous week.

2s,
....... reg.
4s, 1907 ____ reg.
4s, 1907 .........oonp.
is , 1925.............reg.
4s, 1925..........ooup.
5 8 ,1 9 0 4 ___ ...re g .
5s, 1904______ooup.
6s, our’cy,’9 8 ...r e g .
6s, onr’oy ,’9 9 .. .reg.
4s, (Cher.)1898.reg.
is , (Cher.)1899.reg.

Interest April
Periods
24

April A pril A pril
26.
27. | 28.

A pril
29.

AS ^

Q.-Mob. * 96%
<5.-Jan. * m
Q.-Jan . *112%
Q.- Feb. *123
Q .-F eb. * 124
Cj.-Feb. U 12%
Q.- Feb. -114
. . UL J *104
J * ».1*107
M arch. *100%
March * io o %

* 964
111
112%
123
1234
*11 24
*114
*104
*10';
*1C0%
*1' 0%

* 964
HO’*
'1 1 2 4
'1 2 2 %
124
*1127e
*11 4
*10 44
107%
1004
to o iv

f 96%
'11078
112%
122%
123
112%
114%
104%
107%
100%
100%

;

;
;

* 964
*111
1-1124
,*1224
1 124
*112%
*114
*104
* 107
i*100%
*100%

rhlsiaone price Jia -ac li-i.-im* joara. no
w*a
United States Snh-Treasnry. - The following *abP shov
the daily receiiilR and payments at the Sub-Treasur) :
Date.
A p r.24
26
27!.
28
29
30!
Total

Receipts.

Payments.

9
6,751,811
3,566,836

9

tlalances.
Coin.
9

7,392,388 131,080,199
3,231,161)131.08 2,708
....................! H OLIDAY.
3,079,261 129,622,700
3,900,430
2,709,287 129,650.604
3,492,302
7,903,702
6,138,113 178,165,918
25,615,081

Coin Cert’s. Currency.
1,756,846
1,901,365

*
63,584,464
63,768,111

2,149,297
2,083,852
1,811,570

65,806,357
66,626,912
70,149,460

22.550,210

Going.—Following are the current quotations in gold n 1
coins:
S ov ereig n s.. . . . . . $ 4 87
Napoleons ........... 3 86
X X Rclohmarks. 4 79
25 Pesetas........... 4 77
Span. D oubloons.15 55
Mex. D ou bloons.15 50
Fine gold b a rs ...
par

® $4 90
® 3 89
® 4 84
® 4 81
* 1 5 75
® 15 75
® 4 prem.

Fine sliver b a rs ... — 6 1 4 ® — 623g
F lv e fra n o s............— 93 ® — 9 5 4
M exican d olla rs.. — 4 8 4 ® — 4 9 4
Peruvian sols___ _ — 4 3 4 ® — 45
English s liv e r .... 4 86 » 4 90
U. 8. trade dollars — 65® — 76

State and Railroad Bondg.—Sales of State bonds at the
Board are limited to $46,000 Tennessee settlement 3s at 80 to
80%.
Business in the railway bond market has been restricted,
and transactions of importance are confined to a few issues.
Notwithstanding the limited volume of business the
market has been generally firm, and in many cases the
active list closes higher than our last quotations, not­
withstanding some weakness to-day. Texas & Pacifio 1st
and 2d income bonds have been in request and advanced
ne-rly 1% per cent. The Atchisons, Fort W orih & Denver
City, Chesapeake & Ohio 4%s and Southern Railway consols
have made fractional gains. The active list includes, in ad­
dition to the above, Burlington & Quincy, Rock Island,
Chicago & North Western,^Chicago & Eastern Illinois, Mis­
souri Kansas & Texas, San Antonio & Aransas Pass, Union
Paoific, Northern Pacific, Duluth & Iron Range, Canada
Southern, St. Paul Minn. & Manitoba, Columbus H. V. &
Toledo, Erie, Wabash, East Tenn. Virginia & Georgia, Cen­
tral of Georgia, Reading, New York Ontario & Western and
West Shore bonds.
Railroad and Miscellaneous Stocks.—The market for
stocks has been exceptionally dull and narrow, but generally
strong under the prevailing belief that open hostilities in
Europe will be o f short duration. The aggregate business
for the week was reduced by the introduction o f a holiday
on Tuesday. The granger shares were most active of the
1897.
-Differed ' 8 f p m
1896
| 1895
railway list, led by Burlington & Quincy, which, with St.
| A pril 24. ) Prev. week.
A pril 25.
A pril 27.
Paul, Omaha and Louisville & Nashville, advanced an aver­
age of about 1 point, but lo-t a part of the advance to-day.
*
122,7001
62,622,700
,772,700
The
coal stocks have been the weak feature of 1 he market,
.........
61,
C apital.................. I 59,
S u rp lu s.................I 73 ,953,800
.........
I 72 ,813,300 71,046.800 Central o f New Jersey have g declined 4 points and Lacka­
Loans A dlso'nts. 5U4, 847.200 Ino. 859.000 467, :82.700;480.504,000
Baltimore & Ohio declined nearly
82,5001 14, 317.400 13,199,800 wanna about 2 points.
C ircu lation ..........i 15, ,372,300 Deo.
Net deposit*....... 574 ,784,800 I n o .5,,925.600 487, 312,500 516,604,500 2 points on liquidation supposed to be due to the new issue
Specie................... 87, 073,100 In c. 448,800- 59, 002,600 68,703,900 of receivers’ certificates.
Legal tenders___105, ,881,000 Inc .3 ,323,600 83, 504,200 86,210,900
Of the miscellaneous list American Sugar has been most
Reserve held.......192 ,954,100 Inc 3 ,772,400 142, 506,800 154 ,120,800 o c spicuous. It broke over 2 points, to ) 10%, on the an­
Legal reserve___113, 696.200 in o .l, ,481,100:121, 828,1251129 ,150,125
nouncement of the death of the Vict-President of the com­
Surplus reserve 49, 257,900 I n c .2.291,000 20,678.6751 25,270,675 pany on Monday, but has more than regained the loss, and
after fluctuating over a range of marly 4 foints closes at
Foreign Exchange.—The foreign exohange market has 114. American Tobacco advanced 1% per cent on limited
been dull under a limited demand. The offerings have been sales and declined 1 point 1 0 -day. Chicago Gas has been
active and firm.
Western Union was freely offered on
liberal, including bills drawn against gold exporis.
To-day’s actual rates of exohange were as follows: Bankers, rumors of a reduction in the dividend rate and declined 2
sixty days’ sterling, 4 8 6 % @ 4 8 6 % ; demand, 4 87% @ 4 87% ; points. General Electric. U. S. Leather preferred and
Tenn. Coal Iron & Railv ay have fractionally advanced.
oables, 4 87%@4 88,

THE

832
NEW

YOKE

STO CK

CHRONICLE.

K X ( ' H A N O K - .4 C T I l T ? S T O C K S f o r u m k e n d in g A P R I L

[You. U U V ,
HO, a m i s in o e J A N .

H IG H E S T A N D L O W E S T P R IC E S .

8*$U*v‘#Y * J
Apr,

A p r. 27.

10%

10 i
18%
V
13 1
is
31
*30
*4»H SO
•46% 47%
IO
18%

80%

*7
16V

Si

19%

12%
•20
*00%

I

8 |
le v

*1 6*
170
7 i% “ 3
**0
SO

•95

88

I

71 V 7 1 %
*180% 133 i . .
103% 103% 1 03% 104%
62% 6 3%
B2% 0 2%
57 % 5 9%
5 7 % 57%
145
*138
111
•139
28% 28 V
*27% 28%
2%

2%

2%

2%

1 0 5 % 1 05 %
105
105
§150% 150% §150% 150%
*11%
*23
* %
*23
*118
§93%
*5%
*20
U4
*64%
163
•41
42%
84
‘ 102%
____
•16
*75

10

*45

*1 0%
26%
13%
*18%
•
9 8%
*11

......... *37% 3 8 %
12% *12% 1 1%
29% 20%
30
18% *10% 18%
*23
30
30
122
*118
122
9 3 % §91% 9 1 %
§6%
0%
5%
25
20
25
15% 15%
15
66% *64
66%
163
163
163
*42
44
48
% 41%
43
84% 84%
84%
1 0 2 % §1 02 % 102%
_____ 607
98
*16
18
18
•75
78
78
*45
47
47
11
11
11
27
27*8
27
14% 1 5 V
15V
*18
20
21

43

#
37
98%
98%
*11%
13

37
99*8
13

27
27
27
*25
*170
L73
173
*170
13% 13%
13% 13%
*7%
8
8
*7%
22
•21
22
*21
11
%
*
%
*9%
23 V 2 3 %
*23% 24%
12*4 12%
§11% 11%
3 4%
34% 3538
34
*10
20
*10
20
*41
43
43
*40
*11% IS
*11% 13
*47
50
*47
50
18%
18%
18% 19
40% 41
40% 4 0%
24
24
24% 24%

10

W ed n esd a y
j A p r. 2 8.

9

*118
118% *118 % 118%
*56
63
*56
03
4V
4%
*4%
W%
37% 3 7%
37% 37%
12% 13
12% 12V
*2%
§3
4
3%
7%
7
7%
*6%
23
*18
*18
23
*
■*_____
87
87
*113% 117 *113% 117
14% 14%
14% 14%
%
8
1 1% 26
1 1 5 25V
-8%
*8
8%
8%
6%
5%
5V
%
*1
1
1
IV
5
•47*j
5V
12%
1 2% 12%
I k
1
*%
*%
%
§ !%
3%
♦2%
3%
1%

7

5

§47
70
7V
10%
1 65
72V
*40
*95
72%
131
1037*

10V
18V ,

T h u rsd a y ,
A p r. 29.

10%
18V

U%
12%
21 ; 20
__ V
51V
M

21

52V
17%
79%
7%

62% 62%
62% 63
5 8 % 59%
68% 59%
*139 140
139 145
28% 28%
28V 28V
§76% 7 6 %
3%
*2%
*2%
3%

122
93

*20

*75
*45
10

10

9 9%
11
*65
*25
170
§13V
7V
2 1%
A9%
*23
* %
%

11
34
*10

42
*11%
*47
18%
41
24V

5

A c t i v e K H , s to e k H .
1 0 V A te h tso u T o p e k a & S au ta Fe.
19 i
Do
p r e l.
% A tla n tio A P a o l ll o ................
1*2 B a ltim o r e A O h io ...................
B ro o k ly n R a p id T r a n s it—
*52
5 3 iCanadian P a o ltlc.................
4 0 % 4 0% | O »oad a S o u th e rn .................
77
78% C e n t r a !o f .Vew J e r s e y ........
*7%
8 - . C entral P a olflo.......................
1 0 % 1 6 V C hesap eake & O h io .............
* 1 6 5 5 il7 0
C h ioag o & A l t o n ........................
7 2 % 7 3 % C liloa go B u rlin g ton <Ss Q u in cy
*40
C h ica g o A E a ste rn I llin o is
50
Do
p re f.
‘ 95
98
7 1 % 7 2% C h loag o M ilw a u k e e &. St. P aul
„
Do
p rel
§131 131
’103% 103% C h ica g o A N o rth w e s te rn —
153 153
™ , Do
p r e f.
6 1 % 6 2 % C h ica g o R o o k Inland A P aeifle
58
58% C h ica g o St. P a u l M inn. A O m .
*138
Do
p r e f.
145
C l e m Oineln, Ohio. A St. L ...
27% 28
_ , Do
p re f
2% C o lu m b u s H o o k in g V aL A T o l
1%
Do
p r e f.
1 03 % 104%
1 47% 149%
*9% JO ;D e n v e r a H w G r a n d e .
Do
37% 37%
p r e f.
'1 2
12%
Do
le t pref.
'2 8 *4 29%
H7
19 _
Do
2d p ref.
30
Evansville A Terre H a u te...
Great Northern, p ref.......
•118 122
Illinois C entral...............
*92
•5*2
6% Iow a C entral..............
*20
25
, . Do
pref.
Lake Erie <& Western.............
14
14
*62% 65
T Do
pref
161% Lake Shore A Hioh. Southern
161
Long Islan d........................
*42
48
Louisville A Nashville............
43
84
8 4% Manhattan E le va ted ,con sol..
M etropolitan Traction
*101 103
Michigan C entral
§96
96
M
inneapolis A St. L ouis’ ill'.
*17
18
78
D°
1st pref.
47
...
Do
2d pref.
%
% Missouri Kansas A T exas.......
27
27*«
Do
pref.
14% 1 4% Missouri Paolflo
M obile A O h io ...
20

10 %
1 8%
19%
% ’ ..........
11%
12

10%

47% M OV
8 1% : 7 8 V
67%
7%
l a v 10V
16%
105
167
170
72% 1 3%
73V
*40
60
50
*95
98
98
7 2 V 73
73%
1 3 2 % 6132% 132%
1 0 4 V ; 103% 103%

1 0 4 % 1 05% 1 04 %
150
149V
150
*9V 10
*9%
371a
*37V 3 8 V
1 2 V 1230 §12
*28
30
*28
•17
19
30
‘ 23
*23
*118
118
*92
§92
*5%
* %
‘ 20
25
‘ 14% 15% *14%
*64
*64
66
162
163 163
•42
*42
46
43 V
4 3 V 44*4
84%
8 4V 84%
1 03% *
_____
95
§94
17
*10
18
78
*75
*45
47
%
% 10%
2 7% 2 7 V
27V
14%
14% 1514
*18
20
*18

STOCKS.

F rid a y ,
A p r. 30.

105%
149%
10%
36
12
29%
30
122
94
6%
25
15%
66
163
48
44%
84%
103
17
78
47
10*%
2.*V
15

20
37
99

*20 21

*23

94

44

*75
*45
10

10

*17

37
99

Nashv.Chattanooga&St. Louis

*
*
New E ngland................
37
985a
% New York Central A H udson.
99%
%
99%
*11
*11
13 New Y ork Chicago A St. Louis
13
13
*65
*63
75
7ft
Do
1st pref.
75
27
§27
Do
2d pref
*26
28
28
*169
172
170
N
ew
Y
o
rk
N
e
w
H
a
v
e
n
* Hart.
170
173
13% 13% §13 V 13 V New Y ork Ontario A Western.
1 3V
New
York
Susq,
A
West.,
new.
*
%
7%
*7%
7%
7V
21
21
Do
pref.
21»s
21% 2i%3
Norfolk
A
W
estern
.................
10%
9%
* %
%
Do
pref
24%
I I I 23*4 § % 22
12% 12**
12** Nor. Pacific R y. votin g tr.ctfs.
12%
35
Do
p ref.
35%
35*e
35%
*10
Or. RB . A N av.C o.vot.tr.otfs.
20
*10
20
*42
Do prof., vot. tru stotfs.
42
44
*4 1% 4 3
13
*11=8
% *11% 12% Pittsburg Ginn. Ohio. A St. L .
50
*47
*47
50
Do
pref.
50
18% 18%
19%
1 7 V 1 8 % Reading, v otin g tr. certirs
1st p ref., votin g tr. oertifs.
4 0 % 40%
40
4 0%
41%
2d pref., votin g tr. certtfs
24%
2 4 V 24%
2 3 % 23%

10

20
12

7
9
22
11
34

*2

Rio Grande W estern..............

118% 119
*118
*56
63% *56
4%
4%
4%
38
37%
38
13
13%
13
*2%
3%
3%
*6
7
7
*18
23
*18
87 *
113% 117
*113%
14% 1 4 V
14%
7V
7%
* %
25% 25%
25 V
8%
8%
8V
5%
§5%
5%
*1
*1
IV
5%
5%
§ %
12 J*
§12% 13
%
%
•%
*2%
§ %
3%
*1
*1
1%

7

0
2

Rome W atertown A Ogdenab.
118% *1 16 % 118
St. Louis Alt. A T, H .,tr.ieota
*57
64
03
_T
St, L, A Sau F r., vot, tr. otfa.
4V
Do
1st prof.
38%
38
38
Do
2d pref.
13%
1 2 V 13
*2%}
St. L ouis Southwestern...........
4
Do
pref.
7
6%
6%
S t P aul A D uluth.....................
23
*18
23
Do
pref.
87 *■
87
117 *113% 117 S t Paul Minn. A M anitoba...
14%
1 4% 1 4 V Southern Paolflo Oo.................
7 % Southern,voting tru st oertif.
8
7%
D o p ref., votin g trust, oert.
25%
2 5 % 25%
8%
§8%
8% T exas A P a o lflo ........................
5% Union Paolflo trust reoetpts..
5V
n
I V Union Paolflo D enver A Gulf.
1%
§ 4 7s
5%
4% Wabash.
Do
pref.
12% §12% 12%
V
*%
78 Wheeling A Lake Erie............
*2%
Do
pref.
2%
3%
1% Wleo. Cen. Oo., votin g tr. otfa
*1
1%

4

10 * 10% 11
57% •55% 57%

10

10%

55%

10

55%

J55%

10 [

55%

1897.

2,291
9% Apr. 19 12% Mar. 3
5,888 17 Apr. 19 25% Jam 30
.........
% Apr. 7
% Jan. 14
2,700
11% Apr. 29 18
Jau. 8
.........
18V Jan. 7 21% Feb. 11
.........
40% Mar. 29 58
Jan. 8
530
44% Jam 13 51V Mar. 17
17,318 76% Apr, 5 103% Jam 19
321
7% Apr. 20 15 Jan. 5
2,3 73 15V M ar 29 18% Mar. 15
6102 Feb. 15 >170 Mar. 1
58,473 60% Jam 5 78% Mar. 18
45 Mar. 13 45 Mar. 13
495 Jan. 8 608% Feb. 3
38,508 69% Apr. 19 78% Mar. 15
183 131 Jam 8 138% Mar. 18
2,544 101% Apr. 19 110% Mar. 17
100 163 Jam 12 155 Feb. SO
7,567 60% Apr. 10 70 Jam 16
12,060 47 Jau. 2 60% Mar. 17
138% Jan, 18 143 Mar. 29
i ’,540 26% Feb, 18; 3 3 V Mar. 17
15 73 Jan. 4; 77 Star. 25
1,660
1% Apr. 30 18 Jam 8
40 Jam 21 46 Jam 21
4,990 99 V Apr. 1121% Jan. 6
5,025 147% Apr. 30 157% Jam 18
9% Apr. 20. 12% Jam 19
” 600 38 Apr. 20 43 , Feb. 1
110 11% Anr. 19 15% Jam 18
130 27 Apr. 19 35% Jam 18
18 Mar. 291 21 Jan. 15
624% Feb. 13,624% F eb. 13
120 Jau. 1 0 1 2 2 Feb. 5
164 91% Apr. 19 96% Mar. 16
125
8 Jan. 16
6 A pr. 15
24% Mar. 18 27% Jam 20
200 13% Apr. 12 18% Jan. 18
50 58% Apr. 1 70% Jam 20
1,041 152 Jan. 2 172 Mar. 1
41 Apr. 2 55 Jan. 8
19,512 40% Apr. 19 52% Jam 19
3 , 120 33 Mar. 9 93 Mar. 2
212 101% Apr. 19 110% Jam 5
100 90 Jam 23 100 Mar. 15
100 17 Mar. 26 19% Jan. 29
77% Mar. 18 79% Jam 18
46 felt. 26 48% Mar. 18
500 10 Apr. 19 14% Jam 18
1,895 24% Apr. 19 32% Mar. 18
11,950 13% A pr. 24 24% Jan. 18
20 Mar. 26 22% Jan. 12
570 Jam 25 §70 Jam 25
S44 Mar. 19 §44 Mar. 18
6,666 92% Feb. 18 102 Mar. 22
11 Feb. 11 14% Mar. 15
6 7 V Apr. 15 75 Mar. 17
125 24 Feb. 10 34% Mar. 17
100 160 Feb. 2 §178 Jam 4
475 12% Apr. 19 15V Jam 18
9% Jan. 18
100
7 Apr. 1
455 20 A pr. 13 26% Jam 18
9 Apr. 19 14% Mar. 11
50
257 23% Apr. 29 28% Mar. 4
2,492 11 Apr. 19 16V Feb. 1
8,046 32% Jam 5 38% Feb. 24
§10 Apr. 20 §17% Jam 18
” 406 87% Jau. S 45% Feb. 3
11% Mar. 29 14 Jam 21
49% Mar. 26 50 Feb. 1
23,012 116% Apr, 19 19% Apr. 21
2,105 138% Apr. 19 42% Apr. 8
4,895 I 22% Apr. 19 257s Apr. 9
511S Mar.
320
806
903
133
400

1,140
398

7,153
1,085
3,650
•120
140
1,115
100
80

4
37
12
1
3%
20
75
114
13%
7
22V
8
4%
1
4V
11%
%
2V
1%

A pr.
Jau.
Apr.
Apr.
Apr.
Jam
Apr.
Jan.
Jam
Apr.
A pr
Apr.
Apr.
Apr.
Mar.
Apr.
Apr.
Apr.
Mar.

R M a c e lla n e o u a s t o c k s .
522 10 A pr.
*9
10 Ainerloan Cotton Oil Oo_____
182 52% Feb.
Do
pref.
*55% 57%
9% 10%
Oht 9%
9% Apr.
10% 10%
0,628
10% io%; 10% 10% Am erican Spirits Mfg. O o___
27 H %8
28% 20
1,022 26 Jan.
*28% 2 9 %
28% 2 3 % ' 28
Do
pref.
28%
i n n 112% u o % 1 12%
112 V 114% 1 1 3 V 114% 113% 114 Am erican Sugar Refining Oo. 88,603 109% Mar.
102% 102%
103 103
371 100% Jam
6102% 1 0 2 V * 102% 104 5102% 103%
Do
pref.
€9%
m
70%
70
70V
09% 7 0%
69% 70 American T obacco Oo............ 17,130 67% Feb.
102
*103
100 Feb.
102 .........*102
Do
pref.
___
102
8%
9
€»
BH
7% Apr.
9
9
*8%
8% 9
2,475
Bay State G a * ..........................
9
W * i 01'** 81% 82
8 0 % 81%
80% 8 2 V
80% 81V Chicago Gas Oo., certs, o f dep. 49,670 73% Jam
i m n 160% 161%
M l
2,246 138% Jan.
100
162
U50 160
139% 159% Consolidated Gas C om pany..
30%
31% 31%
1,925 30 Apr.
81% 31%
31% 31%
30% 31% General Eleotrlo Oo.................
22
|t t
32% 22%
260 21% Fch.
422% 22% *22% 23% *22% 23% National L ead G o....................
*,91% ©1 % 90% 9 ! %
722 88V Feb.
Do
pref
§«<>% 91
*90% 91% §92
92
4
|4
*3% 4
*3%
4
3
%
37
.
62 1 8 V Apr.
3%
3% North American O o.................
2 0%
20% 20%
1,270 24 Jan.
20V 20V
25% 26
28% 27 Pacific M all................. ............
*85
......... *85
.....
*85 ----- Pipe L ine Oortlflcafes.............
tm
150 159 i
lo o
627 152 Jau.
159 159% 6159
159 x l5 7 157
Pullman Palace Car Company
• fi % 62% *01% 02%
62 Mar.
*61% 8 2% ‘ 01% 62%
61% 02 Silver Bullion Certificates___
7
7
7
6% Mar.
6 %j
*287
68%
Standard R ope A T w in e.........
8%
6V
7
21% 21%? II. % 12%
21%
19% Apr.
7
,9
7
5
21% 21%
Tennessee
Goal
Iron
A
R
R
...
2 0 V 21%
*6%
7
8%
0% 2s5
160
6% Apr,
*0%
United States Leather Oo.......
7
0%
51 %
54 i
5 2% 5 3 V
Do
pref 15,900 50 Apr.
52 % 53%
! ! % 53
is 1
§14% 14% ’ 15
*14
320 13 Mill'.
15% *14
15%
13% 13% United States Rubber Oo-----*03*4 65 1 *63% 65%
63% 63»g 63% 04
1,3451 61 Mar.
Do
pref.
03
63%
7 9 % 79%'
79%
77% 79%, 77% 7 8 %
37,937 77% Apr.
77% 7 8 % W estern Union Telegrap;
T
tra .,, , and <Mke<l; Be sale made, i Less than 1 0 0 shares, f Range dates from listing on Exchange, A pril 8.
*55

»,

S ales o f
R a n ge f o r y e a r 1897.
th e
( On basis o f roo-tb a re lots. 1
1 W eek,
S h a r e s .'
Lowest..
H igh est.

8 §119 Jam 18
19
29
15
1
1
4
20
28
13
19
19
1
19
24
20
19
23
15
31

5% Feb
40% Mar.
16 Feb.
4% Jan.
11% ,I am
22% Jam
§87 Feb.
118 Mar.
15% Jam
10 Jam
29% Jam
10% Jan.
10 Jan.
2% Jan.
7% Jam
17% Jam
6% Jam
29 Jam
2% Jam

4
4
3
18
18
13
3
3
18
16
19
18
5
6
16
18
2
5
6

28
16
23
5
29
7
15
11
17
5
2
19
16
13
20
9

14%
53
14%
34%
118 V
105%
79%
108
13%
84V
163
36%
26V
92
5
27%

Jan.
Mar.
Jan
Mar.
Mar.
Mar.
Jam
Mar.
Jan.
A pr.
Apr.
Fell.
Jan.
Fab.
Jam
Star.

16
9
9
15
3
15
1*
12
6
13
21
2
19
23
18
18

2 163 Mar.
29 65% Jan.
*29 11 % Jam
19 31 Jan.
9=g Jan.
19
22 64 Jam
29 25% Jam
29 76% Jan.
30 86% Mar.

3
27
19
18
19
19
19
5
1

May 1,

rHE

7,

CHRONICLE

883

tfgvY YORK STOCK EXCHANGE PRICES (CoatittuedJ-ZTYA C rip s' STOCKS,
A p ril 30.

In a c t iv e s t o c k s .

HIndicates unlisted.

Bid.

Ask.

R a ilr o a d S to ck s,
A lbany A Susquehanna....... . —100 176
16%
8
Ann Arbor.................................... 100
Preferred.................................... 100 122=8 23%
Boston A N. Y . A ir Line pref ..1 00 103 106
16% 20
Buffalo Rochester & P ittsburg. 100
56
P r e fe r r e d .................................. 100
65
75
B url edar Rapids & Nor.........100
Onioago Great W estern...................
0>*v. Lorain & Wheel, p re f.......100 140
Cleve and <fe P ittsbu rg ............... 50 (161
9
Des lolnes & F oi D o d g e ...—.100
8 78
75
58
P r e fe r r e d ...............- ................100
3
D uluth So. Shore A A tla n tic 11-100
34
6>,
8
Preferred U............................... 100
41
33
E ^ausvllle & Terre H. p r e f------ 50
Flint A Pere M arquette............1 0 0
P referred......................... . . ... .1 0 0
40
25
Green Bay & W estern...............100
50
35
Deb. certfs. A ..........................1000
2
4%
Deb. oertfs. B .........................1000
4
7
Kanawha a Michigan................ lo o
4
2
Keokuk A Des M oines............ ..1 0 0
14
12
..1 0 0
Preferred..................
35
Keokuk A Western ....................100
Lou. New A A C h ic. . . . .....
100 ........ .......
Preferred.................................... 100
M exican Central.......................... 100
X7H
M exioan National tr. c t f s .........100
: 7s
Morris & E ssex..............
50 ;i6 4 % 165%
N. Y. A H arlem .....................
50 310
N. Y. uaoK. * W estern...............100
12
li
Or. 8h.Line &U.N.when issu ed .100
Peoria Decatur & E v an sville.. 100
14
4
8
Peoria A Eastern . — . . . - * —100
Pitts. Ft. W. & Chio. guar.........100 162 170
Reusselaer A S a r a t o g a ........... *00 175 185
30
R io Grau le Western p re f....... .10 0
384
15
25
Toledo A Ohio Central................ 100
75
P referred.................................... 100 1 50
' No price Friday

Range (ta les) in 1897.
Lowest.

3
8
37
10
30
274
4
6
2
12
32

Apr.
Jan.
Apr.
M ir.
Mar.
Apr.

37 Jan.
27% Apr.

Apr.
Feb.
Feb.
Mar.
Feb.
% Jan.

5 Jan.
6 Feb.
3 Jan.
28% Jan.
32 Feb.
% Jan.

3=8 Feb.
8 Jan.
40% Jan.

7 4 Apr.
1% Mar.
163% Feb.
295 Feb.
119 Jan.
1078 Mar.
% Apr.
3 4 Feb.
162 Apr.
180 Jan.
40 Feb.
....

latest price this week.

A pril 30.

I n a c t iv e S t o c k s .

Indicates unlisted.

Highest.

170 Feb. 177% Apr.
10% Jau.
8=8 Apr.
27 Jan.
22% Apr.
102 Mar. 105 Jan.
20H Jan.
20 % Jan.
55 Feb.
55 Feb.
68 Apr. 72 Feb.
4 Mar.
5 Jan.
40 Feb.
40% Mar.
161 Apr. 168% Jan.
8% Feb.
7 Apr.

(\ Indxcuies osctual sales.J
Bid.

M is c e lla n e o u s S to c k s
Adams E xpress............................ 100
American Bank N ote Co I I ..............
A m erican Coal.................., . — 25
Am erican E xpress..............lu o
Amer. Telegraph & C able.........100
Brooklyn Union Gas....................100
Brunswick C om pany.................. 100
Chio. Juno. R y . & Stook Y ards. 100
Colorado Coal & Iron D e v e l... 100
Colorado Fuel & I r o n ................ 100
P referred ................................... 100
Col. A Hook. Coal tr.rets.all pd. 100
Commercial C able....................... 100
Consol. Coal o f M aryland.........100
Detroit Gas................................... 100
Edison Eleo. 111. o f N. Y .............100
Edison Elec. 111. o f B ro o k ly n .. 100
Erie Telegraph A Telephone ..1 0 0
Illinois Steel..................................100
Interior Conduit A In s.............. 100
Jeft. A Clearf. C. A I. p r e f.........100
Laclede G a s . . . . . . . . . ................... 100
P referred....................................100
Maryland Coal, p re f.................... 100
Michigan-Peninsular Car C o. . . 100
P referred...................................100
Minnesota Ir o n ............................ 100
National Linseed Oil C o............ 100

1150*8 151
42% 44%
110 120
1112 113
188
1104%
4
%
%
J16*.
34
ie o
35
107
101
62%
34
35
123%
72
40

8% Jan.
146
l % Jan.
10
167 Jan.
300 Mar. New Central C oal......................... 100
44
122 Mar. Ontario Silver M ining................ 100
84
12% Mar. Pennsylvania C oal..............
50 325
2% Jan. Quicksilver M ining..................... 100
138
5 Apr.
Preferred....................................100
109% Mar. Standard Gas, pref.ff ................ 100 115
185 Jau. JjTennessee
J
Coal A Iron, p r e f... 100
4 0 4 Feb. Tex«M Paoiflo Land T ru st..........100
U. 8. E x press...............................100 J40%
101
....

Range (sales) in 1897.

Ask.

Lowest.

Highest.

147*4 Feb. 155

113 " A p r .
109% Jan.
85% Jan.
85 Jan.
5a Jan.
103 Feb.
% Jan.
4
I d % Apr.
87
75 Feb.
5
3*2 Mar.
175
40
35 'F eb .
20 Jan.
109 101% Jan.
103% 97 Feb.
63% 63% Apr.
35% 29% Apr.
22% JaD.
70% Mar.

76
60

Jan.

125 Jan.
113 Mar.
91% Jan.
106*3 A pr.
®8 Jan.
105&8 Apr.
1 Jan.
2 7 Jan.
75 Feb.
4% Mar.
37%
25
107*4
103
67
42

Jan.
Jan.
Apr.
Mar..
Jan.
Jan-

25
78

Jan.
Mar.

12 Jan.
12 "j'an.
50 Jan.
52 Feb.
38 Apr.
52 Feb
13
12 Mar. 15 Jan.
5
5 Jan.
4 Mar.
6
5 Jan.
5 Jan.
10
10% Jan.
8% Apr.
340 Mar. 340 Mar,
1% Jan.
1&8 Apr.
24
10
11% Jan.
8 Apr.
L16 102 Jan. 108 Feb.
70 Jan.
65 Apr.
6 Apr.
6 Apr*
41
41 Apr.
37 Feb.
104
97 Jan. 103 A p r,

X Actual sales.

NEW YORK STOCK EXCHANGE PRICES.—STATE1 BONDS APRIL 30.
SECURITIES.

Bid.

Ask.

Alabam a—Class A, 4 to 5 ....1 9 0 6 106
Class B, 5s..................................1906 105
Class C, 4s................................. 1906: 101
Currency funding 4s............... 1920 100
A rkansas—6 s,fu n d,H oi.1899-1900; .......
Non H olford .................................... .......
7e, Arkansas Central R R .......................
Louisiana—7s, c o n s .................. 1914
....
Stamped 4 s .................................... ..I
........
New consols. 4 s ........................1914 97

SECURITIES.

New York City Bank Statement for the week ending
April 24, 1897. \Ve omit two ciphers (00) in all cases.
B anks
(00s omitted.)

Bid.

Specie.

Legals. Deposits.

Bank of New York. $2,000,0 $1,,894,3 $12,000,0 $2,,120,0 $2,920.0 $13,400,0
Manhattan Co.......... 2.050.0
.103,1 14.049.0 2.042,0 3.685.0 17.200.0
Merchants’ ............
2.180.1 14.534.5
2,000.0 .016,5 11.027.5 2 ,1 8 5 ,3
Mechanics’ ...........
,059,2 9.015.0 1,102,0 2.407.0 9.154.0
2,000,0
A m erica................
4.113.3 22.272.8
1.500.0 .479.3 18.016.5 2,,9 1 7 ,3
Phenix...................
729.0 3.720.0
2 9 2 .0
359,1 3.985.0
1,000,0
6.079.8 31.024.4
City........................
1,000,0 ,608,7 22.828.3 7,031.2
Tradesmen’ s.........
210.0
96.0 2.438.2
750.0
471.0 2.358.5
Chemical...............
300.0 .339,0 24.344.0 4,3 2 8 .2
3.688.8 24.611.0
Merchants’ Exch’ge
858.0 6.482.0
8 7 7 .9
169.8 4.608.6
600.0
Gallatin.................... 1,000,0 ,089,7, 6.948.3
840.0 1.408.9 5.387.9
Batchers’ A Drov’ rs’
1 7 0 .3
1.245.9
300.0
158.8
181,7 1.249.1
Me hanlcs’ A Trad’s
235.0
400.0
285.0 2,000,0
224,8 1 1,970,0!
Greenwich......... —
944,0
107.8
1 0 0 .3
200.01 105.5
873,1
Leather Mannfao’rs.
424.1 2.775.0
3.100.9
3 4 1 .1
472.5
600,0
Seventh....................
1.599.7
347.4
2 5 7 .1
2,000.0
94.0
300,0'
State of New York. 1.200.0
1 6 4 .1
578.5 2, 04,8
525.3 3,098.2'
American Exchange 5.000.
24.924.0 2.0 4 4 ,0
3.253.0 20.335.0
,587,8
0
22.889.8 ‘2,7 2 4 ,3
3.094.5 17.818.1
Commerce................I 5.000.
,057,5
0
097.4 6.258.2
Broadway.................| 1.000.
6.838.3
0 9 9 .1
,577,11
0
Mercantile........ ....... 1,000,0
0 0 9 .4
1.913.0 8.029.5
982.0 8,100,5!
476.4
Pacific .....................
2,990,4
4 3 1 ,1 !
490.4 2.478.2
422,7
Republic.................. 1.500.0
2,405 4 14,077,3
848.0 11.767.9 2 ,3 6 0 ,8
5 8 5 .4
1.152.7 0,271,8
Chatham..................
975.4 0.050,0
450.0,
595.2 . 2,601.1
1 8 7 .6
1,763.5
238.4
Peoples’ ....................
200,0
582.1
974.2 7.183.3
North America........
0,528,7 1,110.8
700.0
4.701.9 23.932.0
Hanover ................. 1,000.0 :,044,8 10.522.3 5,4 4 5 ,0
530.01 2.910.0
Irving ....................
2 9 9 .4
347.6 2.867.0
500.0
394,1! 2,478,0'
000,0
Citizen s ' ...................
5 1 1 ,7i
371.9, 2.964.0
565,51 3.003.6
Nassau......................
201,0
282,4| 2,473.0!
500.0
1.130.0 0,0 72,5
Market A Fulton...
0 5 4 .4
963.0 6,820,0!
900.0
677.7 3.510.4
Shoe A Leather...... 1,000,0
115.4 3.224.2
4 3 0 .0
Corn Exchange....... 1,000.0 ,243,01 8,815,2! 1,3 7 0 ,0 ( 1.358.0 10.101.6
6.060.2
0 4 8 .0
1.055.6 0.007,6
200.1
Continental ...........
1,000,0
1.709.0
350.4
Oriental. .................
394,2' 1.763.0
1 3 8 .6
300.0
Importers’A Trad’rs 1.500.0 1,555,5, 24.641.0 3,1 8 9 ,0 , 3.902.0 25.948.0
3.151.0 33.332.5
Park.......................... j 2,000.0! 1,202,01 25.811.4 8,5 -8 ,6
150.7
238.9 1.233.6
138,8' 1,222,2
East River............... , 250.0
0,788.9 25.553.5
Fourth...................... 3.200.0 !,040,8 20.768.4 3,1 0 3 ,0
2.460.0 10.252.0
Central..................... 1,000,0)
500.3! 7.610.0 1,3 7 5 .0
1.022.0 5.795.0
8 5 3 ,0 !
670.7 4,748,0)
Becond ....................
300,0'
3 7 8 .4
790,4' 4.122.8
290, l 1 3.688.0
Ninth........................ | 750.0
First.........................
500.0 ,028,7 23.404.0 3.0 7 7 .1 : 2.504.6 22.850.5
1.698.4 10.861.2
Third..................
1.000,0) 244,8! 8,919,9) l ,640,8
269,7) 1.381.5
1 3 9 .5
75, O' 1,1"1,1
300.0
N. Y.NaVl Exch’ge.
4 4 1 .0
442,0! 3.156.0
Bowery ..................
598,8) 2.902.0
250,0!
5 5 3 ,4 '
270,7, 3.243.8
New York County..:
200.01 426.3 2.723.2
582,8| 2,628,2
250.3
280.4 2.578,21
German American..
760,()!
6.297.8 23.485.9
Chase ............. ...
500.0 ,481,1 14.843.0 4,3 2 6 .0
8.547.5
955.1
Fifth Avenue...........
loo.oj .108,3, 7.639.9 1 ,240.6!
225.0
011.7 3.014.3
German Exchange..
200.0, 550.2 2.339.0
388.6 3.969.3
G erm ania...............
088,01 3,081.5| 5 5 2 .7
200.0
912.2 0,622.9
500.0
United states.........
599.2 6.822,9, 1.020,2
9 2 5 .9
1.095.0 7.203.0
Lincoln ....................
009.5 5,087,8)
300.0
754.3 6.036.7
Garfield...... ...........
200.0
9 3 0 .0
725.3 3.988.8
1.982.4
1.581.3
480.7
Fifth .......................
2 2 0 .7
200,0
306.6
1.013.5 6.095.8
8 4 0 .8
826,0 4.713,7
Bank of the Metrop.
300.0
409.0 2.579.0
2 2 4 .0
2.391.0
West Hide................
320.1
200.0
8 1 2 .0
5.909.0
2.330.0 8.330.0
285.1
Seaboard......... ........
500.0
1.480.0
1.085.0
240.0
1 9 0 ,0
Sixth..................
339.1
200.0
6.252.1 15.378.7
Western ............... .. 2.100.0
8 5 5 .6
451.0 12.524.4
1.180.5 0,261,0
9 3 4 .8
First Nat. Brklyn...
930.3 5.383.0
300.0
1,071,0 11.799.8
074.0 10.509,3 ,0 8 5 .0
Nat. Union Bank... 1,200,0
549.4 2.701.9
2 0 3 .8
Liberty Nat. Bank..
248.0 2.548.9
500.0
3.765.9
260.4 3.257.8
561.4
353.9
N Y.Prod.Exch’ge 1,000,0
Total...4............. 69,772.7 73,953,8 604.847,2 87,073,1 105,881,0 674,784,8

SECURITIES.

Bid.

Do

New series___1914

Do*

4% s...................... 1913

Ask.

794

V irginia funded debt, 2-3s___1991
6s, deferred t'st rec’ts, stamped.

644

65

New York City, Boston and Philadelphia Banks:
Ba n k s .

Capital Surpl's Loans.

Ask.

Missouri—Fund............. 1894-1895
North Carolina—6s, o ld ............J&J
Funding a c t........................... 1900
New bonds, J& J .........1892-1898
Chatham R K ................................
Special tax, Class I ................
Consolidated 4 s .................... 1910 102
6 s .................................. ........... 1919 122
South Carolina— 4%s, 20-40.. 1933 105
6s, non-fund......................... 1888

O a p ita \ <x
Surplus.

Loon*.

Specie

IaqoU.

Deposits.-i CircTn

$
N. Y .'
$
$
$
Apr. 3. 133.726.5 502.732,7 85.988.3 103,984,9 569.220.5 15.701.8 568,838.
- 10. 133,720,5! 502,512,0 85.808.4 101,780,8 505.916.6 15.589.2 501.073,8
" 17.. 133.720.5 503,988.2 80,024,3 102,557,4 508,859,2 16.454.8 607.010.6
" 24.. 133.720.6 504,847,2 87,073,1 105,881,0 574,784,8 15.372.3 536.713.7
B o s .'
Apr. 10.. 03,393,8'177,114,0 10,022.0
7.250.0 165.430.0 9.393.0 96.700.9
“ 17.. 63,393,8 176.410,0 10.140.0
7.541.0 167.075.0 9.379.0 93.938.9
“ 24 . 63,393,8! 170,180,0 10.100.0 7.207.0 100.134.0 9.441.0 83,200,2
P h i I n .'
Apr. 10.. 35,388,0 108.638,0
38.398.0
118,210,0 6,938,0 67.589.9
r> 17.. . 35,388.0 108,020.0
38.249.0
119.345.0 0,882,0 62,444,6
1 35,388,0)108,584,0
39.082.0
119.245.0 0,928,0 60,899,1
* Wt omit two ciphers tn all these Jl>jure*.
+ Including for Boston and Philadelphia the Item “ due to other banks".

Miscellaneous and Unlisted Bonds:
M isce lla n e o u s B onds.
M isce lla n e o u s B onds.
Ch. Jun. A S. Yds.—CoLt.g.,5s *105 b. Jeff. A clear. C. A I. 1st g. 5s
ColoradoC. A I. lstcons. 6s,g. 92 b.
..................
2d g. 5s ......
Colorado Fuel A I.—Gen. 5s.
81 a. Mauhat. Beach H. A L. g. 4s.
Col. A Hock. Coal. A I.—0s, g.
Metropol. Tel. A Tel. 1st 5 s..
Co nmerclal Cable-1 st g. 4s. 95 b. Mich.-Peuin. Car 1st 5s ..
Cons.Gas Co.,Chic.—1st gu.5s 90 %b Matual U ion Teleg.—0s, g..
De Bardelebeu C. A I.—g. 6s. 82 %a. Nut. 81arch Mfg. 1st Os —
Det. Gas con. 1st 5................. ♦ 72’ia. N. Y A N. J Telep. gen. 5s..
Edison Elec. 111. Co.—1st 5s.. m % u . Northwestern Telegraph—7s
Do of Bklyn., 1st 5-*.. 109 b People’ s Gas A C. / 1st g. 6s.
Equit. G.-L , N. Y.,cons.g. 5s.
Co., Chicago ... J2d g. 6s.
Equitable G. A F.—1st 6s__ 100 b
1st cons. g. 6s.....................
_
Erie Teleg. A Telep. 5s, g . . .
South Yuba Water—Con. 6s.
Galveston Wharf Co.—1st 5s 100 b Standard Rone & T.—Inc. 5s.
Sunday Creek Coal l» t g . 6s.
Henderson Bridge—1st g. 6s.
II line Is Steel deb. 5s..............
Western Unl-di Teleg.—7s...
Non-couv. aeb. 5s............... * 70 b. Wheel.L.E.APitts.C.»aI lst5s
N ote —"t>” indicates price oid
price asked. * Latest price this

aoo
, 77

110
102
108 b.
108 a.
102 %b.
17%b.
i07% b.
week.®

Bank Stock List—Latestprices. (fNewstook. *Not Listed.
BANKS.

Bid. Ask.

America....... 325
Am. E xch... 173
230
300
Broadway.,.. 230
Butch. ADr.. 125
Central + . . 100
400
Chatham...... 285
4000
City.............. 500
125
170
206
Continental. 130
Corn Exch... 285
135
11th Ward..
3000
Fifth*......... 250
First........... 3000
FirstN., 8 . 1. 120
178
Gallatin...... 310
Gansevoort.. 96

BANKS.

Bid. Ask.

340
170

Garlleld...... 500
German Am. 110
315
350
250 Greenwich... 105
140
Hanover...... 325
H de A L." .. 85
170
155
300
Jm.ATrad’r* 525
4500
140
180
140
750
210
220
140
Market A Fnl 200
300
Mechanic*’ . 185
125
105
3500
140
114
440
160 Mt. Morris.. 100
158
181
190
330 New York... 233
106 N. Y. Co’ nty 700

350
90

BANKS.

Bid. Ask.

N. Y.Nat.Ex
Ninth........... 105

100
107

135
Oriental......
Pacific...... 175
Park............ 200

145
195
210
270
240
112

550
155

Phenix......

230
240
195
130

170
425
Seventh.
100
Shoe A Le’tli 90
111
Third.........
90
97

150
480
170
238

105
117

200
,Unlon Sq.*.. 176
175
170
Western...... 114
IWest Side... 275

160
170
96
100
130
190
200
116

TH E

s u

CHRONICLE.

HUM ON, I'U lL A lJ iL l'llJ A

[V o l . JLXIV.

A M ) BALTIMORE STOCK KXCBAN6E8.

►rice* — n o t P e r C e n t u r a P r i c e * .
A c t iv e S t o c k * ,

H .t u r d .s .
A p t. 24

| lBdlo.se* unlisted.
j,teA . T. 4 8A U aaU e A P *e.
**
100
{ .. . u i . i'iiw A O h io . ft fill.!. 100

i £ i . c ity r t t f t *

“

If

K a itlm o re T r a c w o o **

25;

B aS tim dt*It.e'E l <PA«.i. 26
Satm a A Albany { lOukrn), 100
Bcetun A i-owell
**
100
Besses A Maine.
’’
100;
C ^ a tm l o f Mass .
1
100
Preferred........
'*
100

10%

10’s.

10%

" iT ' "is " I
*65
>85
08
*19% 19%
19%
10% 19%
213%
210 318
213
.. .. 211
161
1 63 162
•9
*9
10%
*56
58
*56
72%
71% 7 i%
72%
71% 71%
6%
0%
6%
33% 23%
92%
92% 02%
23%
23% 23%
102 102% 103
7%
8
8

C iilA B a r.A O o la .
"
100
CbkvM U .A S t. P. (F 5 » i.).100
Cl!.** .O AO vot-t-fl
“
SO
CJt. eu.K y.ot I n d f “
100
FV..
p ra t.O B osh m ). IOO
L ehigh V alley . ‘ P h ila .). 5 0
M<Wrupoi’ n T r * c .y
*'
100
H -'s ir a :: O n l ’ l (B o s t o n ).100
K « a KiislaiMl----*'
100
,’r e fe n e d . . . . . .
“
100
N orthern C entral (B a l . ) . 5 0 *71% ...
N orthern P aoiflo fP h ila .)\ 0 0 •11% 12%
P re fe rrc -1

"

10 0

P referred........

“

—

014 C o lo n y .......(Button) 1 0 0
P e n n sy lv a n ia . . . ( P h i l o , ) . 50
P a tla d eip h . Trad.
*'
50
R eadm it C o .........
"
50
U nion P a cific.
i>o turn (. 100
U nion T r a c t i o n .. ( i ’A ifa .). 50
H t « r e iiim e o u * S to c k * .
AuL.Nug’ rR e ffB .r ( B o p o n ;-----

Tuesday. Wednesday,
Apr. 27 1] Apr. 28.

Monday,
Apr. 20.

Preferred.........

100

*'
100
“
50
EebPb CoalANav. f/ \ U a . 50
H . B .T e le p h on e fB o * !o n ;,1 0 0
P a.0eat,L .A P ow ( P A tio.)-----

08
19%
213%
213
101
10%
58
73
73
6%

....

93
23%
103
7%

IfestonrlUe Passant;. (P h ila .). 50

P referred T . _______
“
50
H a a L A B r o a d T o p ...
*'
50
P referred ......................
"
50
K a n . C j F i.8 . A M em . (N orton ).100
P re fe rred ------------------"
100

U ’.Ue Schuylkill.........(Phila.). 50

M aine C entral........... (B o sto n ). 1 00
H ill A S .H a v eD .fP A tla .). 50
NeeotiehoniBK Y a l . —
“
50
N orth A m erica n O o ..
“
100
N orth P e n n sy lv a n ia .
“
50
O r Hh. L in e all a »st.p d f Boston ,1,100
P en n sy lv a n ia A N. W, ( P h ila .). 50
FhJladai. A E rie .........
**
50
Rutland .......................... B a tu m i. 100
P r e 'e m e d .. . . . . . . . . .
**
100
S o u th e rn ........................ (B a lt.) .1 0 0

"

West E n d ........ ........... ( B oston/,

100

50

Preferred. . . . . . _____
**
50
U nited Coe. o f N. .1 . (PhU a.). 100
A.N-aSli.
"
50
W estern N .T . A Penn
"
100
W iscon sin Co e tra l. . . l N orton). 100
* .................
'•
100
(L N aeb-A K och ,
«
100
a iac a lla a gr>o A
- , M ln'g,«a*tt>d(N orton/ 25

7

mj . . . . . .

(B ost on )
**
f ___ _
........
**
**
O m v m t3 ijj Mini ntf ..
W on w
El»*
**
<*
FraaHIJ u Minin i?,.*....
Vmrmk
Ba " l t d .
**
Mini ag. . . .
**
MJoillK. .***•#
**
r&itsua;g Widam C ar.
P «n n * r .wauitiB 8 m U . tPhila.)
**
Fl'tfif 'tf'A %. ... .. . . .
Q xitiflf Ml®!.nit.
O
U
M
1.B
J.3
i
t
.
.
.
.
**
T pm m nJ
sta r P o«>
estineh . E
tM.,

25
50
10
10
25
25

5

Pf#L, ©ttffi
B o n d t —B o s t o n
LTop. & ft.F.
4a, 1995
iff. 4* 11*95................
•brio

n r ln e o o u o o u .

10%

* 1 2 % .........
* ,
Oft
19% 19*«
19% 19%
213 2 1 3 k
213 213 N
161 161%
^9
10k
”56
58
72% 73%
72% 73%
*6%
7%
22k 22k
92% 92%
23% 23%
102 102
7%
7%

*11 ‘

23%

23%

*.........
*71 k
12%
12%
*12
*347s 35% *34%
178%
53
52% 53
69%
70%
9%
9% 9s i«
*0%
9%
10
10 *8

60
72 k
12%
35
178%
53%
70
9%
6
10

112% 113%
102% 103
221 222
115% 115%
____
16% 16%
360 360
____ _____ _____ _
59
59
59%
20% 20%
19%
__ri_ ; 21
21 .
..^r __
64% 64%
31
31
*70
75
34
34%
21% 21%
*39
39
*101% 102
13% 13%
72
71% 71%
___

___rin
*59
19%
.__r_.
..TClrtrr1t

*38
71%

2
H Holiday in Boston.

49
61
17
49
5
30
52
121

66
19%

19%

214 215
213 213
161 162
9
9
*56
58
73
73k
72% 72%
’ «%
22
22
92% 93
2 3 k 23%
‘ 7%

8

__r__ ____
M 2 k 12%
35% 35%
178% 179
53
53%
68% 69
9%
9%
*5%
6
8%
9%
113%
102%
222
116
k 16k
*_____
59
16
18
63%
30%
*70
33%
*21
39
101k
13%
71%

2

*2

t

* llk
*05
19%
*19
214
‘ 213%
161%
*9
*56
72%
72
6%
*
93
23%
*102%
7%
*18
57
*71k
10%
*34%
179
52%
68
»%
6
9

114%
103%
224
116
16%
365
68
59%
18
19
64
30%
75
35
21%
39%
102
13%
71%

Bid.

1

&8

6

2

6

7%
25%
71
71%
95
95%
*245 .........
49 ; 49%
2%
2%
1
2
1 I 3
112 1118
*50 !1*00

20
4%
4%
7
7%
1
%
10
11
%
%
u
14%
20
28
158
157
20
21
......... 40
'i T
4%
4

23
50

1
24
51

179% 80
444 j 44%
*80 ! 82

6

6

Buffalo R y . oon . 1st, 5 s ........... 1931
OatawiRsa, M .. 7 s .........1 9 0 0 , F A A
C hoo. Ohio. & G u lf, p rio r lien a ..
C ltiaens' t .R y .o f ind .,oon,5B .1933
C olu m b. t. R y „ 1st, oon. 5 s . .1932
C oium b. O. O rosstow n, 1 st,
C onsol. T raot. o f N. J ., I s t ,5 s .l9 3 3
D e l. A B ’d B r'k , l a t , 7 s .l9 0 5 ,F A A
E aston A A m . ls t M .,5 s .l9 2 0 ,M A N
B leo. A P eop le’ s Trac. s to o k ,tr . otfs
E lm ir. A W ilm ., 1 s t .6 8 .1 9 1 0 , J A J .
H estou vflle M. A F „ oon. 5 s ..1924
H u n t. A B r ’ d T o p ,C o iL , s . ’ ,A
LoUigh N a v. 4 % s ............1 9 1 4 , Q - J
Sd 6S, g o ld ....................1 8 9 7 , J A D
G en era l m ort. 4 % », g . l 9 2 4 , Q - F
Lehigh Val.Ctoal 1st 5 s ,g .l9 S 3 M A J
Lehigh V a lley , 1st 6 s . . : i 8 9 8 , J A D
2d 7 s ................................ 1910, M
| C on s ol. ........................ 1 9 2 8 , J A D
:N ew ark Pasnanger, o on . 5a... 1 93 0
l l o r t h P en n . 1 s t , 4 a . ...1 9 3 6 , M AN
G en . M. 7 s .....................1 9 0 3 , J A J
P a terson R a ilw a y , eoiiaol. a ..........
P en n sy lv a n ia g e n . s , r,. 1910, Var
O on eol. s,
.............1 9 0 5 , V ar
O onsol. 5 s , r ...................
, Var
O o lla t.T r , 4 % g ...........1 9 1 3 , J A D
P a . A N . Y , O a n a l, * ■ ... t * 0 * , J A D
O on . 5g. ........................1 9 3 K A A O

5 Unlisted.

6

8
8

56.1933

5 95 &0

&8

6

6 0

6

6

1919

t And aoorued Interoa t.

89%
121
105%
68%
119
115

1,172
io o

19 k
300
19%
115
311
215
109
215
162
118
9
10k
58
8,120
73
4,400
72%
255
0%
23
700
346
93
23%
605
225
103
937
7%
25
50
57
72
1,885
12%
500
35
546
179
53
2,542
5,032
69
8,547
9*16
5
6
9% 10,618

Range o f sales in 1897.
Lowest.

B lg h e a t

9% Apr.
■15 Fob.
12% Mar.
59% Jan.
17 Jan.
17% Jan.
209 Jan,
205 Jan.
159% P e l.
9 Apr.
56 Mar.
69% Jan.
69% Apr.
6% Apr.
16 Apr.
91 Jan.
20% (••■so.
102 Apr.
7% Jan.
18 Apr.
57 Feb.
67% Jan.
3 0% Apr.
33% Jan.
176% Jan.
51% Jan.
66% Jan.
89i« Apr.
5 Apr.
8% Apr.

12% Mar.
■37% Jan.
17% Jan.
66 Apr.
20% Apr.
20% Apr.
217 Mar.
214 Apr.
166 Jan.
11 Jan.
58 Mar.
78% Mar.
78% Mar.
8% Feb.
25% Jan.
94% Mar,
30% Jan.
110% Jan.
9% Jan.
37% Jan.
61% Jan.
72 Apr.
16 k **eb.
39 Feb.
180 Mar.
53% Mar.
74 Mar.
9»ie A pr.
9 Jan.
13% Mar.

3
13
9
17
2
2
4
7
18
20
3
18
15
5
20
15
2
5
30
19
7
1
1
1
1
15
4
26
7
3

Mar.
Star.
A pr.
Mar.
Mar.
Mar.
Feb.
Jan.
Fob.
Jan.
Feb.
Fob.
Jan.
Jan
Feb.
Jan.
Jan.
Mur
Feb.
Jan.
Feb.

3
12
13
16
15
1
6
15
1
29
24
2
20
18
1
14
26
18
3
12
9

8,735
322
821
9,866
7,006
S4

109% Mar. 29 118%
100% Jan. 6 105%
205% Jan.
228
129
94% Jaa.
0 Jan, 11 20
326 Jan.
390
67%
60 Jan.
323 58% Apr. 22 62%
3,516 15% Apr. 22 31
750 17% A pr. 30 S3
318 63% A pr. 1 67%
400 30% Apr. 12 36%
71% Apr. 14 78
o i l 29% A pr. 21 41%
256 20% Jan. 6 23%
164 38 Mar. 29 42
188 101 Apr. 5 103
495 13 Apr. SO 16
161 71 Jan. 6 74%
87 38% Apr. 6 47
330
l% J a n . 5
2%
1 Trust reo.,all instal. paid.
B onds,

6
6

1 100

8 alee
of th«
Week,
Shares.

People’ s Trao, vruetoerts. 4S..1943
Perfclomen, 1st s e r .,5 s .1918, Q—J
phila. A E rie gen. M .5 g .,1920, AAO
Gen. m ort., 4 g .......... 1920, AAO
Phila A Read, n ew 4 g., 1958, JA J
1st pref. incom e, 5 g , 1958, Feb 1
2d pref. incom e, 5 g , 1958, Feb. 1
3d pref. incom e, 6 g , 1958,F eb. 1
2d, 5s............................ 1933, AAO
Consol, m ort. 7 s____ .1911, JA D
Consol, m ort. 6 a ___ ..1 9 1 1 , JAD
Im provem en ts!. 6 g ., 1897, AAO
C on.M .,5 K.,stamped,1922,MAN
Terminal o s, g . . . » „ 1941, Q.—F.
Phil. Wilm. A Balt., 4 s .l9 1 7 , AAO
Pitts. O. A 8t. L ., 7 s . ...1 9 0 0 , F A A
Roohebter Railway, oon. 5s ..1 930
8oh uyl.R .E .8ide,lst5 g.1935, JA D
Union Term inal 1st 5 s ..........F A A

6

6
6
6

10%
k
12

113% 114
1 0 3 k 10 3k
223 224
114% 115%
15% 16k
360 360
65
•60
*58% 59
16% 17
17% 18 k
03% 63%
30% 30%
75
*70
34
34
21
2 lk
39
39
101 101
13
13k
*70
7L
41
41
2
2
2%
Trust receipts.

11

8

■*53"
34,
88
15

10%

B oston U nited Gas, 2 d x . 5 s_ .1 9 3 9
93% B u rl.A M o . R iv e r E x e u n t tin, J A J
267 i N on -ex em p t a____ ..1 9 1 8 , J A J
P lain 4 s ........................... 1 91 0 , JA J
Ohio. B a ri, A N or. ls t B .1 9 2 6 , A A O
2 d m art. s ................... 1 91 8 , J A D
30
D ebenture s ............... 1 8 9 6 , J A D
8
Ohio. B urL A Q u in cy 4 s 1 9 2 2 ,F A A
149
I o w a D iv is io n 4 s ____ 1 9 1 9 , A A O
250
0 h io.A W .M ioh . gen . 5 b, 1 9 2 1 , J A D
C onsol, o f V erm on t, 5 8 .1 9 1 3 , J A J ,
28
C urren t R iv e r, 1st, 5 s ..1 9 2 7 , A A O
12
D et. Lane. A N or'n M. 7 s .1 90 7 , J AJ
32
E astern lB t m o rt g ,1 9 0 6 ,M A B ..
50
Bree.EUr. A M . V .,1st, 0 8.1933, end.
62
U nstam ped, 1st, % 1 9 3 3 .............
18
K.C. O. A S prin g,,1st,5 g ,,1 925,A A O
50
K O . F .B .A M . o o n . s, 1 9 2 8 , MAN
10
K.O. M em . A B ir.,le t,2 B ,1 9 2 7 , M
40
K.
C, t. J o . A C. B ., 7 s . . 1 9 0 7 , J A J
53
L . R o o k A F t B „ l 8 t ,7 8 ..1 9 0 5 , J A J
124
L o u is ., E v. A 8 t.L .,1 st,6 g ,1 926, A A O
57
2 m ., 5 - 6 g .................. 1 9 3 6 , A A O
M ar. H . A O n t., s ........1 9 2 5 , A A O
4% M e x ica n C e n t r a l,4 g . . . 1 9 1 1 , J A J
s
nsol.t n oom es, g ,n on -ou m .
10*
2 d oon eol, iu oom e s, 3 b, non -oum .
25
N. Y . A N .E n g ,, 1 s t, 7 s ,1 9 0 5 , J A J f
20
1 st m ort. s ...................1 9 0 5 , J A J
1
O gden. A ,L .0 „ C o n .e s ...1 9 2 0 ,A A O
I n c. s ..........................................1920
8
R u tla n d , 1 s t, s ............. 1 9 0 2 ,M A N
25%
2d, 5 s ............................. 1 8 9 8 ,F A A

25
25
100
100
IOO
25 107
25 113

1001
501
50

*10%

Bonds.

P rU xi o f A p rU SO.
A L en ta & C harlotte (Bal (.J.100
B oston A P ro v id e n ce (Britton).100 264
C am den A A U a n tJ op l. (P A ila .). 50
3%
“
50
C a fs w is tu ......................
51%
1st p r e fe r r e d ............
’•
50
C entral O h io ................. (B a ll.), 50
5
C h ica g o A W est M ich . (B oston ). 100
C o o n e c a c n t A P a s s ..
“
100 147
O oa n ectien t R iv er . .
"
100 245
27
C on sol. T ra ct-o f N .J .f (PAUn.).lOO
D ela w a reA B ou n d B r .
'*
100 165
10
F lint A F ere M a r tj...(B o s to n ). 100
30
P re fe r re d .......................
“
100

A U*»tS< Mi A
H%jr Sta t » 0

72%

Bid.

I n a ctiv e S to c k * .

Preferred.....................

ade.

41
2i

72%

frn__ ____

"59
21
23
61 !
31%
■70
75
*34
35
21% 21%
39
39
102 102
40%
•2

06
19%
i ...» r -

*19%

112% 112% 111% 112%
103 103% 102% 103%
222%
115%
16%
360

Unit’d GaaImp.1T
*'
50
Welabaoh Light \
“
5 41% 41%
'2
2%
V u t End L an d ..f Bottom
•Bid and ashed prloes; no gale was m

10%

10%

*71%
12% 12%
35
35%
*34
34%
177% 178
........1 7 9
52% 53
52% 62%
70 % 70%
70
7»
9% Ohs
•5%
5%
1
10
10%
9% 10

72
*71
33
33%
22
*21
39
39
101% 102
13% 13%

Friday,
Apr, 30.

to%

221
221
B oll T e le p h o n e ..
*'
100 221
B est A M on tana.
“
25 114 114% 115
15%
15% 1.6%
B u tte A B o sto n .!
“
26
360
C alum et A H e e la
“
25 300 360
C an ton C o . . . . . . . f B ait,> .100
59% 59% "59“
CkmeoMdated G s s
*•
100
19%
19% 19%
E te c-S s o r.B a l’ ytU PA ito.l-lO O
22
21% 21%
P referred !
“
100
63%
64
64%
Erie T e lep h on e.fB o*(on y.lO O
31%
G -n eral K leotric.
“
100 •30% SI
Illin ois S t e e l . . . .
L aauionB toreSer

Thursday,
Apr. 29.

89%
68%

110%
103%|104%

A t l W & a M ^ r 907, JAJ
Baltimore B elt, 1st, 5 s .1990, MAN
Balt. C. Pass. 1st 5 s .... 1911. MAN
Balt. Traction, 1st 5 s ..1929, MAN
E xten, A tmpt. 6s___ 1901, MAS
No. Balt. D iv., 5 s....... 1942, JA D
Baltimore A Ohio 4 g., 1935, A A O
Pitts. A Oonn., 5 g ....l9 2 5 . F A A
Staten Island, 2d, 5 g .1926, JA J
R eceivers’ oergdoates, 6 s.-J A D
D o. Maryland Construe., 5 s ........
Do. Plttsb. A Connells., 5S ..J A J
Bal.AOlxio B,W .,1st,4% g.1990, J AJ
OapeF.AYad.,Ser.A.,6g,19l6, JA D
Cent. Ohio, 4% g ............ 1930, MAS
Cent. Pass., 1st 5s....... 1932. MAN
City A Sub., 1st 5 s .........1922, JAD
Chari. C ol.A A ug.ext.5a.1910, JAJ
UOt A Greenv., 1st 5-6 b. 1917, JAJ
G eorglaA A la .,lstp f. 5s.l945,A A O
Ga.Oar. A Nor. 1st 5 g ..l9 2 9 , JAJ
Georgia Pao.. 1st 5-6s...1 922, JAJ
Geor. 80. A Fla., 1st 5 s ..1945, JAJ
North. Cent. 6 s . . . . . . ___ 1900, JAJ
6s.............
1904, JAJ
Series A , 5 s....... .......... 1926, JAJ
4 % s ..................
1925, AAO
Pitts. A Connells. I a t7 a .l8 9 8 , JAJ
Southern, 1st 58___ .....1 9 9 4 , JA J
Virginia Mid., 1st 6 s . ..1906, MAS
2d Series, 6s..................1911 MAS
3d Series, 6 s . . . . . . ....1 9 1 6 , MAS
4th Series, 3-4-58....... 1921, MAS
5th Sorias, fte............ .1926, MAS
W est Va. O. A V 1st, 0 g . 1911, JAJ
W ilm. Ool. A A ug., 6 s . : i 9 l 0 , JAD

.'I ™ P s iT
105% .........
130 I .........
110% 117%
1 0 7 % 108
HI SC!'!(.!. A NitOUS.
112
Baltimore Water 5 s . . .19 18, MAN
119
Funding 5 8 ..™ ......... 1910, MAN
E xchange 3 % s.............1980, JAJ
i ’3 3 *
V irginia (S ta te )3 s,n e w .1932, JAJ
119% .
Funded debt, 2-3s........1991, JAJ
119
Chesapeake Gas 0S-....19O O , JAD
111
122
Consol. Gas, 6 s . . . . _ ___ 1910, JA D
« .......
1030. TAJ
. . . . . . 105

Bid. U p
97% 97%
99 j.........
117 I.........
80%
19%
11%

80k
20%
12
******

120
131
122
101% 102%
115
109%
1 0 4 k .........
121 122
92
91
115% . . . . . .
113
105%
111% 112
100
. ...

97% ...••a
*98%
113
1 12k
107
11*2
101
81
114
94%
108
112
115k
106
104%
89
113
110
114%
96
103
108%
116
120

.......
113%
.......
102
81%
95

_____
.- .
89%
113%
120
116
......
, ,, .
108%
.........
122

106%
76
70
64% 04 %
106
117%
110 i i o %

THE CHRONICLE.

Ma y 1, 1897. J

835

NEW YORK STOCK EXCHANGE PRICES (Contlnued>-ACTira BONDS APRIL 30 AND FOR YEAR 189T.
Railroad and
Miscellaneous B oots .

I n f it

Period

d o t i n g R a n g e ( s a l e s ) i n 1897.

Price

A p r . 30

L o w e s t.

H ig h e s t.

Railroad and
Miscellaneous B onds.

Closing R a n g e ( s a l e s ) i n 1897.
I n f st Price
P e r i o d A p r . 30.
L o w e s t.
H ig h e s t,

Q—jf 10613b. 106 Feb. 109 Jan.
Mex. Internat’i—1st, 4, g.19 42 M A S
69 Mar.
MAS
74%
tilioh. Cent.—1st, eons., 7 s .1902 M A N 119
70 Apr.
116% Jan.
81% Feb.
78
Q -J
7 4 1* Jan.
ConsoL, 5 s.........................1902 M A N 107%b. 107 Feb.
80% Feb.
A & O 80
Minn.&St.L.—1st oon.5s,g.l934 M A N 103 b. 100 J an.
83% Mar.
79 A pr.
Nov.
44%
Mo. K. <feE .—1st 5s, g., g o..1942 A A O 91
42% Apr.
49% Feb.
90% Apr.
J <fc D 11834b. 116% Jan. 119% Apr.
83%
M, K. <fe T exas.—1st, 4s, g . 1990 J A D
82 Jan.
A & O 77
55%
2d, *8, g ..... ..... ................1990 F A A
78 34 Apr.
55% Apr.
70 Feb.
MAN
73 b. 71 Apr.
76 78
Mo. Pao.—1st, con., 6g.......1920 M A N
79% Apr.
68 Feb.
A A O 75*2
99 %b. 98 Mar.
3d, 7s.................................. 1906 M A N
81 Feb.
75% Apr.
J A J 112% 1053j Jan. 112% Apr.
Pao. o f Mo.—1st, ex., 4g . 1938 F A A 100
100 Apr.
F A A
94%
2d ext. 5s....................... 1938 J A J 101 b. 100 Apr.
91% Mar. 101 Jan.
J A J HOhab. 108 Jan. 111 Feb.
St. L.& Ir.M t.lst ext., 58.1897 F A A 101 b. 100% Feb.
M A S 105% 104% Mar. 108 Feb.
2d, 7 g ..............................1897 M A N 103 %a. 101% Jan.
MAN
92 b. 90% Feb.
92% Mar.
Cairo Ark. & Texas, 7g.l8 9 7 J A D 102%b. 98 Jan.
Q -J
106 b. 106% Apr. 108% Mar.
Gen. R ’y A lan d g r.,5 g .l9 3 1 A A O 69 b. 71 A pr.
M A N 112 b. 115 Mar. 115% Mar. M obile & Ohio—N ew 6g ...1 9 2 7 J A D 119 b. 117 Jan.
J A J 1103s 109 Apr. 118 Feb.
General m ortgage, 4s. 1938 M A S 65%b. 65% Apr.
Q—M
98 a. 90 Apr. 104% Feb. Nash. Ch. & St.L.—1st, 7 s .. 1913 J A J 129 b. 127% Jan.
MAN
78 b. 78 Mar. 90 Feb.
Consol., 5 g .........................1928 A A O 99 %a. 99% Apr.
J A J 11413b. 114 Mar. 116% Feb.
N. Y . Centra3-D ebtext.48.1905 M A N 105%b. 101% Jan.
J A J 102 %b. 100 Jan. 102% Apr.
1st, coupon, 7s..................1903 J A J 120% 117% Jan.
J & J 101 %b. 993i Jan. 101% Apr.
Deben., 5s, ooup., 18 84.. 1904 M A 8 109 %b. 106 Mar.
118%b. 119 Jan. 1213s Mar.
N. Y. & Harlem, 7s, reg,.1900 M A N 113 a. 110% Apr.
d ie s . & Ohio. -S e r . A , 6g..l908j-“ - J
R. W. <fe Ogd., consols, os.1922 A A O 118%b. 117% Jan.
118 ha Jan. 121 Mar.
Mortgage, 6 g ...................191l t r 2 8 11958b.
West Shore, guar., 4 s . . . . 2361 J A J 109% 105 Jan.
10734 Jan. 112 Apr.
ls t o o n s o l..5 g .................. 1939
J ^ 112
7
2
7s
N.
Y. Ohio. A 8 t L.—4 g ...l9 3 7 A A O 104% 103% Apr.
72
Mar.
7
6
%
Feb.
General 4*aa,g................ 1992 ^ A S
97 Jan. 104% Mar. 1N .Y . Laok. A W .—1st, 6 s .. 1921 J A J 136%b. 136 Mar.
R .& A .D iv ., lsto o n ., 4g. 1989 *} * « 102
90%b.
92
Mar.
Construction,
5 s ............ .1923 F A A 116%b. 116% Mar.
86
Jan.
M
2d con., 4 g ..1989 " & J
N.Y. N. H. & H.—Con. deb. otfs. A A O 138 b. 132% Feb.
Ohio. Burl. & Q.—Con. 7 s .l9 o 3 J A J 118% f l l 5 Jan. 118% Apr.
M
A
N
92 b. 88% Jan.
101
N.Y.
Out.
&
W.—R
ef. 4s, g.1992 M A S
97
Jan.
101
Apr.
Debenture, 5s................... 1913
ConsoL, 1st, 5s, g ............. 1939 J A D 110 b. 108% Feb.
Convertible 5s..................1903 M A S 100 b. 99% Mar. 102% Mar.
F
A
A
J
A
J
101
%b. 100 Jan.
9414b.
93
Feb.
96%
Jan.
N.Y.Sus.A W .lstref.,59, g.1937
D enver Division 4 s.........1922
92 34b. 87% Jan.
70
Gen. 5 g .............................1940 F & A
93 Apr.
69 A pr.
Nebraska E xtension, 4s. 1927 M A N
M
A
S
A
A
O
119
b.
*116%b.
Midland of N. J., 6s, g ... 1910
118 Mar. 121 Feb.
Han. <fe St. Jos.—Cons.6s.1911
116% Apr.
Nor. & W. Ry.—1st, oons.,4g.’96 A A O 08%
Ohio. <fe E. 111.—1st, s. f. 68.1907 J A D 114 b. 114 Apr. 115 Apr.
67% Apr.
No. Paoitio—1st, ooup. 6 g .l9 2 1 J A J 116% 113 Jan.
ConsoL 6 g ......................... 1934 A A O 124 b. 124 Apr. 125% Apr.
M A NV7 101
86%
Prior lien, ry. 6c l.g. 4, g.1997 Q - J
G eneraloonsol., 1st 5 s .. 1937 ■
98% Feb. 101% Mar.
85% Jan.
General lien 3 g ...............2047 Q - F
Chicago A Erie.—1st, 5 g ..l9 8 2 ^
" 11178 llO^s Jan. 112 Jan.
52%
51% Apr.
No. Paoiflo Ter. Oo—6 g ....l9 3 8 J A J 107
Ohio. G asL .& C .—1st,5 g .. 1937:J & A 97 b. 93 Jan.
98 Apr.
104% Jan.
Ohio. Mil.& St. P.—Con.7s.1905 « <* J| 132%b. 128 Jan. '13434 Mar. Ohio & Miss.—Con.s.f., 7s. 1898 J A J 104%b. 104 Mar.
11518 Jan. 119 Apr.
1st, SouthwestDiv., 6 s . . 1909;J « J 119
Ohio Southern—1st, 6 g ...l9 2 1 J A D 90 a. 83% Feb.
8%b. t 8% Apr.
General m ortgage, 4 * ..1 9 2 1 M A N
1st, So. Minn. Div., 6 s .. 1910 « ® % ■*119 b. 115% Jan. 119 Apr.
1st,C h.& P ac.W .D iv.5s.. 1921 .J « J 115%b. 112 Jan. 115% Apr.
Oregonlm pr. Go.—le t 6 g .. 1910 J A D 87%b. 185% Mar.
A
A
O
t
19%a.
ConsoL, 5 g ....................... 1939
C h lo.A M o.R iv.D iv.,5a ..I926 ;J * -J 110%b. 106% Jan. 111% Apr.
15 Feb.
Ore.R.ANav. Co.—1st, 6 g .l9 0 9 J A J 113 b. 110 Jan.
Wise.<teMinn.,Div ,og...l921i*{.
« H314 j 110% Jan. 11334 Apr.
RR. & Nav. oonsoL, 4 g .1946 J A D 82%b. 80 Jan.
Terminal, 5 g .................... 1914!J « « 113 b. 110% Jan. 113% Apr.
Gen. M., 4g., series A . . ..1 9 8 9 J ® i 10134 1 96 Jan. 10234 Mar. Penn. C o.*-4% g,ooup....... 1921 J A J l l l % b . 109% Jan.
MU. & Nor.—1st,con.,6s. 1913 J A D 119hib i l l s Jan. 118% Feb.
Peo. Deo. A E vansv.—6 g.1920 J A J 100 b. 100 J an.
Evans. Division, 6 g ....... 1920 M A 8 99 b, 100 Feb.
Chic. As N. Pao., 1st, 5 g .... 1940 A A O » 41% <40 Jan. 144 Jan.
Q—F
145 b .1 4 0 Jan. 145 % Apr.
Ohio. <fe N. W.—Consol., 7s. 1915
2d mortage, 5 g ................ 1926 M A N
124% Apr.
Phila. AR ead.—G en .,4 g ..l9 5 8 J A J t 80% t79% Apr.
Coupon, gold, 7 s ..............1902 J A D 119%b. 110 Jan. 120 Apr.
A
A
O
116 b. 114 Jan. 119 Mar.
1st pf. ino., 5 g, aU Inst. p«L’58
Sinking fund, 6 s ..............1929
t39 Apr.
Sinklngtund, 5 s ..............1929 A A O 109 b .jl0 8 % A p r . 112 Mar.
2dpf.ino., 5 g., aliinst. p d /5 8
129 Apr.
110% Jan. 115 Apr.
3d pf.ino., 5 g., all inst. p d.’58
Sinking fund, deben.. 5 s. 1933 M A N 115
130% Mar.
25-year debenture, 5 a ... 1909 M A N 109hjb. !iO0 Jan. 110 Apr.
Pitts. Sh. & L. E., 1st, 5 g.1940 A A O 100%
95 Jan.
101 Jan. 103% Feb.
Extension, 4 s ...................1926 F A A 103
Pittsburg & Western—4 g . 1917 J A J 70%
70 Mar.
72%
Mil. L. Sh. & W., 1st, 6 g .l9 2 1 M A N 133%b. 131% Jan. 134 Apr.
R io Gr. Western—1st 4 g.,1939 J A J
70% Mar.
Exten. <fe Imp., 5 g .....l 9 2 9 F A A *114h2b.|il2 Mar. 115 Jan.
St. Jo. & Gr. Island—6 g ..l9 2 5 M A N 1 55 a. t47% Jan.
St. L. A San Fr.—6g, 01. B .1906 M A N 115 b. 112 Jan.
i 128% Jau. 132 Apr.
Ohio. R .I.& P ao.—6s,coup. 1917 J A J 132
1017sJa n . 105% Mar.
General mortgage, 0 g.,19 31 J A J 111 b. 108% Jan.
Extension and ool., 5 s ... 1934 J A J 105
96h3b., 93 Jan.
30-year debenture, 5 s ...1921 M A S
General. 6 g ................
1931 J A J 96 b. 94% Jan.
99% Feb.
RaUroad, 4 g .................... 1996 J A J 63 %b. 62% Jan.
Ohio. 8t. P. M. & O.—6 s ... 1930 J A D 130%b. 126 Jan. 131% Mar.
06%b. 59% Apr.
Chic.<teW.Ind.—G en.,g.,6s. 1932 Q -M 113 b. 116 Mar. 117% Jan.
St. L. A So. W.—1st, 4s, g . 1989 M A N
2d, 4s, g.. incom e...........1 9 8 9 J A J
21%b. 15 Apr.
Clev. Lor. dc W h eel—5 s ... 1933 A A O 100 a. 102 Jan. 102 Jan.
a O . O .A [.—O onsol.7g ...1 9 1 4 J A D 133%b. 131\ Jan. 133% Apr. 8t.P.M .AM.—D a k .E x .,6 g .l9 1 0 M A N 122 b. 116% Jan.
ls to o n s o L ,6 g . . . ............ 1933 J A J 120%b. 123 Jan.
General, consol., 6 g . . . . 1934 J A J 120%b. 123% Jan. 12034 Apr.
A & O 73 a. 70 Mar. 75 Jan.
0.
0.CASLL.—Peo.«te E .,4s.1940
u
rea u oed to4 % g .. J A J 106% 102% Jan.
92%b. 87% Jan.
001. Midland—Cons., 4 g ..l9 4 0 F A A t 9 b .'llO Apr. 117 Jan.
M ontana e x te n s io n ^ g.1937 J A D
San.Ant.A A .P .—lst,4 g .,g u .’ 43 J A J
58 a, 54% Jan.
OoL A 9th Ave. gu. 5s, g.,1 9 9 3 M A 8 11534b.jll5% Mar. 118 Feb.
92%
So. Car. A Ga.—1st, 5 g . . . 1919 M A N
OoL H. Val.&ToL—Con., 5g. 1931 M A S 69
63 Feb.
88% Jan.
87% Feb.
So. Paoitto, Ariz.—6 g ... 1909-10 J A J
94 b 90 Feb.
General, 6 g . . . ..................1904 J A D 50 b. 49% Feb.
87 Jan.
So. Paoiflo, OaL—6 £ ...1 9 0 5 -1 2 A A O 105 %b. 106% Apr.
D anv.A R ioGr.—1st,7 s ,g .1900 M A N 112%b. I l l Jan. 113% Apr.
1st oonsol., gold, 5 g....... 1937 A A O 85 b. 85 Feb.
1st consol., 4 g..................1936 J A J
87%b. 88 Jan.
89 Jan.
DuL & Iron R’ge— 1st, 5s. 1937 A A O 97%b. 93% Apr. 101% Jan.
So. Paoitto, N. M .- 6 g ....... 1911 J A J 104% 102 Jan.
Dul. So. 8h. A A tl.—5 g ....l 9 3 7 J A J 101% . 99% Jan. 102 Feb. Southern—1st oons. g . 5s. 1994 J A J
89%
87% Mar.
E lison EL 111.—lst,con.g.5s.’95 J A
E. Tenn.reorg. lien 4-5s. 1933 M A S * 86%a. 86% Mar.
l l l % b . 104% Jan. 111% Apr.
Erie—4, g, prior b o n d s ....1 996 J A
E .T. V. A G .—1st,7 £ ....1 9 0 0 J A J 109% 107% Jan.
92%b.j 93% Apr.
95% Feb.
General, 3-4, g . . . . ......... 1996 J A
Oon. 5 g ....... ..................1956 M A N 109 %b. 107 Jan.
0338b. | 6234 Jan.
60% Feb.
Georgia Pao. Ist5-6 s, g.,1922 J A J 115%b. 107% Jan.
Erie Ry.—1st, oon., 7 g ..l9 2 0 M A
141 b. 1139% Mar. 143% Feb.
L’g D ock, oonsol., 6 g. 1935 A A O 134%b.:133% Jan. 136 Mar.
K noxv. A Ohio 1st 6 s ,g .. 1925 J A J 112 b. L12 Jan.
Ft. W. A Den. City.—4-6 g.1921 J A D 56%
Rloh. AD anv. oon. 6s, g.. 1915 J A J 122 b. 117% Jan.
53 Jan.
59% Mar.
Gal. H. ASan. An-M. AP.D. lst.5g M A N * 88 b. 89% Jan.
W est.N o.C arlstoon.68,gl914 J A J 114% 111% Jan.
91% Feb.
Gen. E lectric.deb. 5s,£ ...1 9 2 2 J A D ............ 90% Jan.
Standard
R op eA T ..lst.0 g .l9 4 6 F A A
66 %b. 65 Mar.
97% Apr.
Hous. A T. Cent. gen. 4s, g. 1921 A A O 00
05% Apr. 70 Mar. Tenn. O. I. A R y—Ten. D. 1st, 6 a A A O 80
80 Apr.
Illinois Central.—4s, g.......1953 M A N ............ 99% Jan. 103 Jan.
Birmingham Div., 6 g . . . 1917 J A J 80
79 Apr.
Western Lines, 1st, 4s, g.1951 F A A 102 b .!10034 Feb. 103% Mar. Texas A Paoiflo—lBt, 5 g . . 2000 J A D
89%
85% Jan.
2d, incom e, 5 g ................ 2000 March
InLAGreat Nor.—lst,6s,g 1919 M A N 11934b. 117% Jan. 120 Apr.
20
18 Apr.
2d, 4% -5s...........................1909 M A S
74%
73 Jan.
80 Feb. Toledo A OhloOent.—5 g . . 1935 J A J 102 %b. 102 Mar.
Iow a Central.—1st, 5 g
1938 J A D 92 a. 88 Apr.
Tol. St.L. A K an.O .—0 g . . . l 9 l 6 J A D t 70 a. 167% Mar.
97% Jan.
Kings Co. E lev.—1st,5 g .. 1925 J A J 42 b. 44 Feb.
50% Mar. Union Paoiflo—6 g ......... ...1 8 9 8 J A J 102 %b. 101% Mar.
Ext. siuklng fund, 8........1899 M a s t 89 b. 85 Jan.
Laclede Gas.—1st, 5 s ,g ... 1919. Qw- F
97
97% Apr.
93% Jan.
Collateral trust, 4% ........1918 M A N t 50 a. t49% Jan.
Lake Erie A West.—5 g .... 1937 J A J 115 b. 113% Jau. 117 Apr.
Gold 0s, 0 0 L trust notes. 1894 F A A 101%b. 99 Feb.
L .8h ore.—Con,op., lst.7 s.1 9 0 0 J A J 11234 110% Jan. 113% Mar.
Consol. o o u p ., 2 d, 7s....... 1903 J A D 123%b. 119 Jan. 124% Mar.
Kan. P a o .-D e n .D lv .,6 g .l8 9 9 M A N 117%b. 113% Jan.
lstoon soL , 6 g .............. 1919 M A N t 72 b. 167 Jan.
Lex. A v. A P a v .F .g u . 5s,g 1993 M A S 116
115% Mar. 118 Feb.
Oregon Short Line—0 g.1922 F A A 118
1111%Jan.
L ong Island.—1st con .,5 g. 1931 Q—J 117 b. 113 Jau. 117% Jan.
Or.8.L.AUt’hN.—Oon.,5gl919 A A O t 75 b. t63% Jan.
General m o rtg a g e ,4 g ... 1938 J A D 87 b. 70% Jan. I 88% Mar.
Louis. A Nash.—-Cons. v s .. 1898 A A O 103 %b. 102% Apr. ,106% Mar.
U .P .D en.A G olf,oon.,5 g.1939 J A D
33 Apr.
34%
N.O A M obile, 1st, 6 g ... 1930 J A J 120% 110 Jan. 120% Apr.
U. 8. Leather—S. F-deb.8g.1913 M A N *113 b. 111% Jan.
M
“
2d, 6 g .. 1930 J A J 103 b. 98% Jau. !l0 3% Mar. Virginia Mid. —G e n . . 5 s . 1936 M A N 101 %b. 100 Jan.
Wabash—1st, 5 g . . —......... ~939 M A N 104% 103 Apr.
General, 6g....................... 1930 J A D 118 a. 115% Jan. 1118 Apr.
03% Apr.
Unified, 4 g ........................ 1940 J A J 78%b. 78% Jan.
2d m ortgage, 5 g ... . . . . . . 1939 F A A
65%
81 Feb.
Deben., Series B ...1939! J &
J * 18 b. 18% Apr.
Louis,N. A. A Oh.—1st,6s. 1910 J A J 113 b. 111 Jan. I ll3 Apr.
W estN . Y. A P a .—1 s t ,5 g . 1937 J A J 107
104% Jan.
ConsoL,6g, tr. receip ts.1916 A A O *183 b. t82 Jan. It 85 Jan.
Manhattan oonsol. 4 s....... 1990 A A O
Gen. 2-3-4a, g old _______ 1943 A A O * 48 a. 40% Jan.
95% Feb.
92%b. 91% Apr.
West.Un.TeL—u ol.tr. 5 a .. 1938 J A
Metro. E levated.- 1st, 6 g .l9 0 8 J A J 11934b. 110% Jan. !ll9 % Apr.
107%b. 100% Jan.
2d.6 s.................................. 1899 M A N 107 %b. 105 Jan. 10734 Apr.
Wise. Gent. Co 1st 5 g ...1 9 3 7 'J A
t 29% t29% Apr.

Am at. Cotton OH. deb., 8g . 1900
Amer. Spirit M fg., 1st, 6g.l9 1 5
Ann A rbor.—1st, 4s, g ...1 9 9 5
A t.T . &S.F.—New gen* 4 s .19 9 d
Adjustment 4 s . ..- - - . ---.1 9 9 5
B’ way<fc7tkAv.-lst.con.g.5s’43
Brooklyn Elev. 1st, 6 g ..-.1 9 2 4
Union Elevated.—6 g ...,1 9 3 7
B klyn Rap. Trans., 5 g — 1945
Bkly n.U n.G as.lst.con.S g. 194o
B’ klynW hrf&W .H—lst,5B,g. 45
Canada Southern.—1st, 5s,1908
2d, 5s...................................1913
Cent, o f Ga.—Cons., 5s, g.1945
Central o f N. J .—Cons.,7s,1899
C on sol, 7 s ....... ................ 1902
General m ortgage, 5 g ...l9 8 7
Leh.& W .B .,oon.,7s,as,d-1900
“
m ortgage5s.l9 12
Am. D ock <fe Im p., 5 s ___ 1921
Central P acific.—Gold, 6 s .1898

S otb .—“ b” lndloates prloe bid; “ a" price cubed; the range la made up from aotnal aalea only.

* Latest prloe tula week,

73 Jan.
119 Apr.
108 Mar.
103% Apr.
95% Jau.
85 Mar.
63 Jan.
87% Jan.
105 J an.
10134 Feb.
103% Jan.
103% Jan.
103% Mar.
102% Mar.
77% Feb.
119 Feb.
68% Feb.
130 Mar. 1
102% Mar.
104% Mar.
12134 A pr.
110 Apr.
114 Mar.
121 Feb.
109% Apr.
106% Mar.
136% Mar.
118 Jan.
140 Mar.
96 Feb.
110 Mar.
103% Jan.
74% Jan.
119% Jan.
74% Mar.
116% Mar.
885s Mar.
56% Feb.
110 Mar.
104% Apr.
90 Jan.
tl5
Jan.
90% Jan.
119% Mar.
114 Apr.
84 Feb.
11278 Apr.
104 Feb.
106 Feb.
27% Jan.
182 Feb.
t48 Jan.
♦3638 Jan.
134% Jan.
102% Mar.
74% Jan.
74% Feb.
154 Mar.
115% Feb
112% Feb.
98% Feb
06 70 Feb
70 Jan.
28 Jan.
122 A pr.
126% A p r.
107 Mar.
93 A pr.
59% Mar.
93 Apr.
94% A pr.
108 Jan.
88% Apr.
105 Feb.
91 Jan.
89% Jan.
109% Mar.
109% Apr.
115 A pr.
115 Feb.
122% Mar.
114% Mar.
79% Jan.
88 % Mar.
89 Mar.
90 Feb.
23 Jan.
108 Feb.
175 Feb.
105 Feb,
95 Feb.
150 Jan.
102% Mar*
11734 Apr*.
t78 Jan-I
119 Mar177% Mar37 Feb.
114 Feb.
103 ^ Mar.
107Q Jan.
73% Jan.
25 Jan.
107 *a Mar.
50 Feb.
108M A pr.
140 Mar

t Trust reoeipta.

NEW YORK STOCK EXCHANGE PRICES—(Continued),—IN AC TIVE B O N D S -A P R IL 30
SECURITIES.

Bid.

Aak.

Railroad Bonds.
( B lo ck E x c h a n g e P r ic e t.J

A labam a Mid.—la t.g ;, g u a r ..1928
Atoh. Topeka <fe San Fran.—
Onioago A St. Lou.—1st, 6a.1915
Ool. Mid. 1st,
6a, a sa td ..l93 8
AU. & Pao.—2d W. JJ„ gu. 68.1907
102
Weatem Division In com e..1910
Balt. A O h io -la t , 6a, Park B .19 19 109*4

SECURITIES.

Bid.

Ask.

SECURITIES.

Brunawlok A W’n—1st, g., 4a .1938
, Balt. & Ohio—
93 I Buff. Rooh. A Pitta.—Gen. 58-1937
5s, g o ld ........ .......................... 1925
Cons, mort., gold, 5s............ 1988 101
R och. A P ., 1st, 6a...............1921
Rooh. A Pitta.—Oona.lat,6B.1922
W Va. A Pitta.— ’ at, g., 5a..1990
! B. A O. 8. W .,la t, g., 4*98...1990
97 100
Buff. A Suaqueb.—le t, 5e, g .,1 9 1 3
Burl.Oed.Rap. A N o.- lat, 58.1906
1 Monon. River, la t,g ., g .5 a ..l9 1 9
! Cent’l Ohio R eor.—le t, 4*ea. 1930 *98*4
Consol. & oollat. trust, 5 a ..1934
Ak.&Ch. Juno.—let,g,68,g u .l930
Minn. A St. L.—lBt, 7a, g u ..l9 2 7
Brooklyn Elevated—2d, 5a...1 9 1 5
Ced. Rap. I. F. A N „ la t,6 a .l9 2 0
42*4 43*"
Seaside A B .B .—lat,g.5a,gu. 1942
68
le t , 5a..................................1921

Bid.

Aak.

96% 98
125*4
121
106*4
102*4
104
'102

103

T H E

8 3 tt

fVOL, L X IV .

(J H R O N IC L E .

NEVT fO tlK STOCK EXCHANGE PRICES.—INACTIVE BOXDS—{ContinuedJ—APRIL 3 0 .
Bid.

M O U R IT IM .

A sk .

OOkto—Oal. A01n.M.l»l,4%^1939
0»et. RB, .» H*r;k. ~Co’ .g .5 « 1957 91% 94
O n ! . By. of (in- 1*!, g , 9 I..1 0 4 5
i1!? ? *
1st, p rri incom e, it., 5» ....1949 2\ % - 0*4{
2d, p n t ln*'. itir. It., 5* . . . . .1048 9%f 19*4
0 * » l.U t -•*..>.—W H t'.d eb .>8* 1009
o r-.-. I'nr p.i - ” 0ld ! kio,!».6«.1H»S 102%
Ext, if. 5*. letlea A f t ;C 9 ..1890! 101 % .. .
Gold 9». ..'Tit- K....... ...
1999; 101V
Sms J &&*!&$& fir.*
»*.»». * 1900j 101
M ort-gold 5 f t . . . . . . . . . . . , . . —1939'
Lund grant-5s, g . - - 1 9 0 0
'0 8 % 98
Cal. 1 0 . l> W .,n t .,g . 5 » ...1 0 1 8 *101
Want. P udSe—B<m d»,6it....l8B9 102
Bo. Railway (£3*’ . 1—l i t , fl». 1907
88
S0-ye*r 5«.
................... 1938
O n t. Washington—1st,
Cft.1938
Ofte*. A O ,—Par. M. fon d, 8*.1898 104 105
94
Oral*- V a l l e y - l i t , 5 » . . . . 1 0 4 O *.......
w a n e t e r . Y * l , 1*1, g. 5 # ..W 4 1 . . . . . .
Kltf. U A B lg S a u d y -G . 5 « .1902 90% 98%
Own. O. A So. Went.—l i t 6», g-1911
1.1, 6 * .. ....................................1911
0 6 . V .-G en .oon .U t,gu .g, 5s.1938
C . icago A A lton—6. F ., 6 s . . . .1903 115
Loom. A Mo. River—1st, 7S.1900 110%
Sd. 7 » . . . . ..............................1900 109%
St L. Jacks. A Civic.—2d, 7S.1898
MISS.R. B r i d g e - l e t ,s .f .,80.191’ i'0 2 % 107
Ohio BurL. A Nor.—1st, 5 s . . . . 1926 101 104%
Ohio. Barling. A Q.—5a. a. I . .1901! . . . . .
low * Btv.—Sink, fund, 5 s ..1919 “ 105
eiB ll_ f fund, 4 « ...........
1919 •98%
rism . 4 * ..................................1921
89
Chic ago A lo w * Dlv,—5 s ...l 9 0 5 . . . . .
C lie, A Indiana Coal—1st 5 e .l9 3 6 ----Ckl. Mil. A St. P .-la t,8 »,I\ D .1 8 9 8 105
2d, 7 S-lOs, P. D ...................1808 *131
let, 7s, * ft., R. D . . . ...............1902 131%
1st, r. A M ,,7 s ........................1897 M30
let, 1. A D „ 7 s...................... 1899*131
1 s t,a A M „7 e ........................1903 *131
1st, I. A D. E x te n sio n ,7 s...1808 *134
1st, La C. A Dav., 5e............. 1919
130%
l i t , H -A D .,7 s ..................... 1910
let, H, A D .,5 a .............. ....1 9 1 0 109
120%
Ohieago A Pacific Dlv., 6 s ..1910
109
Mineral Point D lv .S i.......... 1910
0. A L. Bap. Dtv., 5s............1921 110% ..
(cargo A fionth., 6s, A ssn ...1924 *107
It o. conv, eltik. fund, 5e___ 1916
Dakota A Gt, Bontli., 5e___ 1916 110%
MIL A Bor. r u in line—6 s ... 1910 119% 120
Calc. AN onv.—30-5 car deb.5e.1921 1X0%
Eacanaba A L, 8 .1 s t, 6" — 1901 111
D e sM .A Minn.—1st, 7 s . ... 1907
Iow a Midland—le t, 8e.........1900
c u e . A Milwaukee—1st, 7e,1898 104
Win. A St. P .—2d, 7 s............ 1907
130
MU. A Mad.—1st. 6n............ 1905
Ott. C. F. A Bl. P.—le t, 5a 1909 107%
northern 111.—1st, 5s......... 1910 107%
MIL L. 8.AW ,—C on.deb.,5s.1907
Mich. D lv „ let, 6s.............. 1924 i¥ 6'
Ashland Division—le t, 8 e 1925 128
Oh. R. L A P —D.M .AF*D,lst4s.l9Q 5
1st, 2% s................................1905 ‘ *62%
Extension, 4e.....................1905
Keokuk A Dee M.—1st,5 a ..1923 102% 104%
Okie. at. P. A Minn.—le t, 6s. ..1918 '130% 131
8% Paul AS. C.—1st, 6s....... 1919 129% 131
Ohio. A W, Ind.—le t, s. f .p6s. 1919
General mortgage, 8s . ......... 1932 118
Ohlc. A West. Mich,—5 s ........ 1921
Clo Ham. A D.—Con. s. f., 78.1905
Id , gold, 4% s..........................1937
Oln. D. & Iris—le t,gu . 5 b, g.1941 1 1 0
CBev, Ak. A C ol.-E (|. A 2d 6S.1930
Ctev.ACan.—Tr.ctfe.forlet5e.1917 "sl*
75
a l C. A HI. I,— G eo,, g, 4 s.. 1993
Cairo division, 4*_________.1939
90
81. Lou. Dt v.—1s teoU ri !4s, g. 1990
97%
8pring.ACol.Dtv.—let,g, 4 g .l9 4 0
WhiteW.VaLDlv.—lst.g. 4s. 1940
' % . » ab.A M .D lv.-lstJL 4s.1981
87%
O n . l.B t. L. A C .—Ist,g.,4s.l936 101%
O on soi, 6* . „ . .........................1920
Oin.8a n .A iL —C on.let.g.5», 1928
Indiana B. A W.—1st Mt.7s.1900 107
Ohio ln d .A W .-litp r e f.5 s .. 1938
Poor. A Last.—Incom e 4a .. 1996 •
16
O. »'ol ‘ in . A tad .—1st, 7M .L1S09 109 109%
Oossol. sink, fund, 7 » .......1 9 1 4
Otn.Arj.r,..1«t,i ( '.C..a I,7«. 1901
..........Lorain A Wh.—1st, 50.1033
100
Otero A Mah, V.—G old .5a. . . 3933
Dei. Lack. A W.—Mort, 7 » ....1 9 0 7 125
I n s . Bing. A S , V. —le i. 7*. 1906 123 128
S*«t3rt* A -R » « x —I s t ,? * .... 1914i 144%.......
Bonds, 7 » ™ „ . „ ..........
i 9oo I l l
r» of ln 7 1.......... ................ 1901 113 114
1st, con., guar,, 7 » .____ ..19151 144% 144%
Marrvii -.ga, 7* ................... 1900 Kill
D .Ail.i at, - P».01v..r«op.7«.1017 142
A lban ; A Busy —1st, gu..7a 1906: 121
1 s t,OOns., guar.. Oft ___ loop! 110% 117%
Re, *. A Bar l e t roup., 7*.1921 146
D m r .Tramway—Cons, 6a . g . i m o
MstropoL R ;,— l«L sn . g o a .lu n
Det r A »c <«.—Iton., * , 5 « .. .1028
Dri.M . A M.—L, g. 3%*,*»r.A .1911
18
Del, A Mack,—let lien, 4a ,g .. 1095
4a, k<*M............................ .....I : ii.
K n e—let, extended, 7 e .........
•103 106
24, extended, 5s . ............... 1919 *117% 121
34, extended, 4% *.,...............1923: 112% 114%,
« S , « x tended,6a ............. ...1 9 2 0 1 1 0 % 1 1 0 %
*
5th, extended, 4s,—. , . . . . . . . 1928 101 %
l»t, con., g., r d , 7* ...............1920
8 . K, V. A A - l i t , 7e.......... 1916
138
BxO. A 8 . W.—M o tif. 6 i ___190ft *101
JeSeraon—1s t ,go. c 5# ....l< *09 *105%
Onat A UR. ~G*, .........
1:1)22
Doe) A T>riy.*
^i,
1013 105

,!

‘

SECURITIES.

Bid,

Seans, A T .H .—1st, oons., 6S.1921
*at. vani'ral, g., 6 g ................ 1942

110

Ask.

76%

Mt,Vernon let 6 e .................1923

4uL Co. Br, 1st, g.. 5s.......... 1930
E fans. A Indian.—1st, o o n s ..1926
Flint A P. Marquette—
M ort., 6 a .................................J920
1st, eon. gold, 5e....................1939
Pt. Huron Dlv.—1st, 5a ....1 9 3 9
ria . Cen A Pen.—1st g. 5 s ..-1 9 1 8
1st con. g., 5 s .......................1 9 4 3
t. Worth A R. G.—1 st g., 5S..1928
Hal. Har. A Ban Ant.—1st, 6 s .lfll0
2d niort., 7 s ............ ..............1 9 0 5
Ga. A Ala., 1st, pref., g 5 s . ..1945
Ha. Car. A Nor.—1st, gu. 5 s ,g .l9 2 9
Honsatonle—Oons. gold 6 b— 1937
N. H even A Derby, Cons.5s,.1918
Hons. A Texas Central—
Waco A N. 7s..................... - 1903
1st g., 5s (lnt. gtdi................ 1937
Cons. g. 6s (lnt. g td )............1912
Debent. 6s, prill. & in*, gtd. 1897
Bebent. 4s, prin. A lnt. gtd.1897
DUnols Central—1st, g., 4 e ...1951
1st. gold, 3% e.........................1951
Goid 4s
. . . ______— — .1952
2-10Jg„ 4 b...............................1904
Cairo Bridge—I s ................... 1950
Sprlngf. Dlv.—Coup., 6 b-----1898
Middle Dlv.—Reg., 5s.......... 1921
O. 8t. L. A N. O .- T e n .l.,78.1897
1st, consol., 7s................. ..1 8 9 7
Gold, 5s, co u p o n ................ 1951
Memp, Div,, l s t g . 4 s ....... 1951
B eliv.A So. IU., gu., g., 4% s.l897
Ced. Falls A Minn.—1st, 7s. .1907
lnd. D, A Bpr.—1st 7s, 1906, trust
rents., ex bonds.............................
Ind. Deo. A W.—1st, g., 5 s ....1 9 3 5
Ind. Ills. A Iowa.—1st, g, 4 s..1939
1st, ext,, g. 5 s . ...................... 1943
lnt, A G. N’n.—3d, 4s, g ....... 1921
K tngsC o.-F .E l.,lst,5,g.,gu.A .1929
Lake Erie A West..—2d g., 58.1941
Nortii'n Ohio—1st, gu. g. 58.1945
L B .A M .8 o n .-B .A B .-H e w 7 s .’ 98
Det, M. A T.—1st, 7s............ 1906
Lake Shore—Dlv. bonds, 7 e .1899
Kal. A ll. A G. R.—ls t g u , 58.1938
Mabon’g Coal R R .- l s t , 5S.1934
L e b ig b V .;N .Y .-lst gu.g.4%8.1940
Lehigh V .T e rm .-la tg n , 5s,g. 1941
Lehigh V’y Coal—1 st5 e,gu .g.l933
Lehigh A NAT.—1st, gu. g. 4s.1945
EluilraC.AN'.,lst.g.lstpf.68.1914
Guar., gold, 5s................... 1914
lJtch f. Car. A West.—1st 6s. g.1916
Little R ock A M.—1st, 5s, g ..l9 3 7
Long Island—
1st, 7 s ....... ........
1898
Ferry, 1st, g „ 4%s................ 1922
Gold 4 s . . . . ; ............................1932
N. Y. A R ’ wav B.—ls t ,g . 50.1927
2d m ortg,, ln o.....................1927
N.Y.B.AM.B.—ls to o n . 5s,g.l9 3 5
B rookl’nAMontauk—1st, 68.1911
1st, 5 b .................................. 1911
No. Shore Br.—1st con.Ss.g,1932
Louis. Evans, A St, L.—Con.5s.1939
Louis. ANash.—Cecil. Br. 7 s ..1907
E. H. AN ash.—1 s t 6s, g ___ 1919
Pensacola Division, 6s.........1920
8t. Louie Division, 1st, 6 s... 1921
2d, 3s....................................1980
Nashv. A Deoatnr—1st, 7 s ..1900
fi. f.,6s.—8. A N . A la............. 1910
50-year 5s, g .......................... 1937
Pena. A A t .- 1st, 6s, g o ld ...1921
Coliat. trust, 5s, g ................ 1931
L.A.N. & M.ASL—lst,g .,4% sl945
Nash.Flor.A8.—1st, ga., 58.1937
Kentucky Central—<la, g . . 1987
L. A N .—Lou-O.AL.—g.4 % s.l9 3 1
Lon. AJed. Bdge Co.—Gu.g,4s. 1945
Lou.N.Alh.ACb.—G en.m .g.5s.l940
Memphis A CharL—6e, g o ld ..1924
Mexican Cent. ConsoL—4s, g.1911
1st, oons. income 3s, g_____1939
Mexican National—1st, g „ 6s. 1927
2d, Income, 6s, " A ” .............. 1917
2d, Income, 6 a ," B ” .............1917
Michigan Central—fie.............. 1909
Coupon, 5s...............................1931
M ortgage 4s............................ 19*0
Bttt.C.A8trglB.—1st,Skig.gn,1989
Minn.A 8t. L . - l s t , g. 7 s . . . . . . 1927
Iow a Extension, 1st, 7s.......1909
Southwest Ext.—1st, 7s.. .1910
Paolllo Ext.—1st, 0 8 ............1921
M o.K.A T ex.—1st, ext., 5s, g .lB 4 4
Mo.K.AT.of T ex.l8t,go.5s.g.l94 2
Kansas City A P .,lB t,4 a,g.,1 990
Dal. A Waco—1st 5 s,g M ....1940
Missouri Paolflo—Trust 5 s .. 1917
1st coll., 6s, g ........................ 1020
, , “ | **•,v: ' •M.~Ark.Br., 1«t,7s. 1895
Mobile A Ohio—1st ext., 0 s ...1927
8t. L. A Cairo—4s, guar....... 1931
Morgan’s La. A T . -1st, 6 s ....l9 2 0
1»{, 7b...................................... ..
Nash.Chat. A 8 t .L .- 2 d , 6 s ..1901
N. O. A. No. R.—Pr, 1„ g., 6 s ..1915
8 • k-O m traL—Deb. g .4 s ___ 1906
N. J. Ju n o-G u ar. 1st, 4 s ...1986
Beech Creek—1st. gold, 4U..1936
Osw. A Koine—2d, 5 s,g .,g u .l9 1 5
Dtloa A BL R iv ._4 s, g „ ’ Sn.l922

N
v YwV S
S * rev.
^ Pie .1; i9“093
2 ‘N
y,* Hf'—let.
3

81

*73%
46%
104 107

123
125
110

95
112

110%
105
101

101% 102
160%

104

104

121% 123
*97%

*101

102%

31
42
103
101%
101 102
104% 104%
*30

107%
'114
*116
*94
107

97

109

92%

106
83
*98
42%
35
104% 106%

30
114%
101
* iW
98

........
124
iii%
99

.•mmmm
86
loe^s .........
-mmrnm*

67
******

103

.......

140%
123
'123 ^ 130
121%
--nr 09
72
71
69
.........
50*
103 106
110
"""**
114%
124 .........
105% _rrr1ltt
103
108% 109
106%! 10?”

N, Y. A Northern—1st, g. 5 s ..1927 120 i*2*3'*
N 1 . 8n»q. A West —2d, 4% s.t9 37
72
^orujinal, 1st, a. 5*.............. 1943 100% __„„
Wtlk .t- E„»i -l«t.,fW ..K .5*.l!U 2 *
90

SECURITIES.

Bid.

Ask

Northern Paoltlo—
8t.Pan! A N. P.—Gen., 6 s ..1923 *127 128N orfolk A 8out,h’ n—1st, 5 »,g .l9 4 1 105 107
N orfolkA W e st—General, 66.1931 125
- __ _
New R iver 1st 6s................1932
117 120
Imp, A E xt.. 6s.................... ,1 9 3 !
C ol.C onn.A Ter..lsv,ga.g,5s.l922
Ohio A Miss.—ConsoL 7 s ____ 1898 101%
2d oonsoi. 7 s .......................... 1911 116
Spring.Div.—I s t 7 s ............... 1905 105*8 106%
General 5».............................. 1932
Ohio R iver R R .—let, 5 s .........1936 101% . . . . . .
Gen. g „ 5 s ............................... 1937
Omaha A 8t. Louis.—1st, 48..1937
45% 53%
Oregon A Califor.—1st, 5e, g.1927
Penn-P.C.G. ASt.L.Cn.g.4 %sA IP 4 0 108%
Do
do
Series B 1942 108%
Do
do
Series C 1942 107%
Do do
Series D, 4s,
1945 101 102
P.C.A8.L.-lSt,0.,7ft................1900' -no
Pitts. Pt. W. A 0 .—l i t , 7 s ... 1912 137
2d, 7 s .................................. 1912 ‘ 30
3d. 7 s....................................1912 130
Oh.St.L. AP.—1st,con ,5s,g... 1932 112
113%
Olev. A P .—Cons., s. fit., 7s. 1900
Gen. 4%s, g ., “ A ............ 1942
Do
do
Berios B 1942
St. L.V . A T. H .—1 st,6s., 78.1897
2d, guar., 7s........................ 1898 100
G d .R .A L E x t—1st,4%s,G.g. 1941
A lleg.Yal.—Gen., gu., 4s, g.1942
N. ACm.Bdg., gen.gu .4% s.g.l945
110%
Penn.BR.—1st real, est g, 48.1923
Cle.A Marita—1st,gu.g.4 %3. 1935
D . hlv.R R .A B dg—lst.g u .g .4s.’36
Peoria A Pek. Union—1st. 6s .1921 112
75
2d m ortg., 4% s.......................1921
Pitte. Clave. A Tol.—let, 6 s ...1922
Pitts. A L. Er.—2d g. 5s, “ A " .1928
Pitts. Mo. K. A Y .—1st 6s.......1BS2
Pitts. Painsv. A F.—1st, 5a. ..1 916
80
Pitts. Bhen. A L. E.—
1st oonsoi. 5 s . . . .....................1943
Pitts. A West.—M. 5 » ,g .l8 9 1 -I 9 4 I
Pitts.Y’ gst’nA A .—1st, 5a,con. 1927
80%
R eading Co.—Gen. g., 4 s ...... 1997
R io Grande 80.—1st, g,, 3-48.1940
8t. L. A. A T. H .—Term. 5 s .. 1914 105
Bellev. A Car.—1st, 6s......... 1923
Ohi,8(s.L,APad.—1st,gd.g.5s 1917
90
St. Douis 80.—1st, go, g. 4,8.1131
do
2d Incom e,5s. 1631
Car. A Shawt.—1st g. 4s___ 1932
St. L, A 8. F.—2d 68,g., ol. A .1906 115 116
2d, 6s, g., class C ................. 1906 115
1st, trust, gold 5s.......... .... 1987
Ft. 8. A V .B . B g .- l s t , 6 s ... 1910 100
8t.L .K an.A 8.W .—1st, g.,6s,1916
St. Paul City Ry, o on . 5s, g ... 1937
Gold 5s, g u a r ..................... ..1 9 3 7
St. Paul A Duluth—le t, 5 s___ 1931 109
2d m ortgage 5s.......................1917 102 102%
St. Paul Minn A M.—2d M, 6s.l909 120
M inneap.Union—1st 6 s ... 1922
Mont. Cen.—1st, guar., 6 s ..1937 119* 119%
1st guar. g. 5a..................... 1937 106 109
East. M inn., 1st div. 1st 5 s . 1908 107% 107%
Wf ,n srA SiouxF .—1st, g ,58.1933
San Fran. A N. P.—1st, g., 5s. 1919 100
Sav.Fl.&West. -1st, oon. g .6s.l9 34
Seaboard A R oanoke-1 s t , 5a. 1926
Seat.L.8.A E ast.,lat6s,asst.pdl93L
Southern—Ala. Cent., 1st t>a. 1918
Ati. A Char.—Inoorne, 6 s ...1 9 0 0
Colnm. A Green.—1st, 5-6S.1916
E. Teuu. 7. A Ga.—Divis.oe 1930 113% 115
Rich.A Dan.—Eq. a. f. g. 58.1909
Deben. 5a, atam ped .........1927 '*96%
V ir ia M id —Serialaer.A , 6 s .1906
Series B, 6e.......................... 1911
Series C, 6a.......................... 1916
Series D, 4-5s ..................... 1921
Series E , 5 s ............... ..1 9 2 6
Series F, 5 s . . . . .........
1931
Gen., os, guar., stam ped .1936 102
__
WaelnO.AW.—1st eur.gu.4s.1924
81
Ter. A s’ n of St. L.—1st, 4% a.l939 108 109%
1st, eon. g. 5 s...............1894-1944 106% 106%
8t.L.M er.Br.Term .,g.5a,gu..l93o
Texas A N ew Orleans—1st,7 s.l9 0 5 ...... ........
Saoine Division, 1st, 6 s ....... 1912
95 . . . . . .
Consul 5s, . . . . . . -------1943
Tex. A F ac., JE. D.—1st, g. 6s, 1905
Third Avenue (N.Y).—1st 5s, 1937 122%
75 ____
T.AO.G.—K an .A M ., Mort. 48.1990
63
60
Tol. Peo, A West.—1st, g., 4 s.t9 1 7
97 __ . . .
Ulster A D el.—1st, oon.,6.,5s. 1928
Union Pacific—1st, 6 s ............ 1896 . „ mmm. 1U3
1st, 68....................................... 1897 102% 103%
ls t , 6a...................................... 1899 103 103%
Collateral Trust, 6s.............. 1908
98% 99%
73
Collateral Trust, 5 s.............. 1907
-irKansan Pacific—1st 6s, g . .. 1895 109% . . . . . .
1st, 6s, g ............................... 1896 113 . . . . . .
50 . . . . . .
O. Br. U P - F . 0., 73........... 1895
26
Atoll. Col. A Pae.—lat, 6 s ...1905
Atch. J. Go. A W.—la t, 6a... 1905
18
U. P. Lin. A CoL—le t,g ., 5s. 1918
Utah A Norrh.—lot, 7s........1908 115 . . . . . .
Gold, 5 « .........
1926 100
.....
Utah Southern—Gen., 7s ..1 909
75
75%
75
Exten., la t, 7 s ....................1909
Wabash—
Debenture, 8er. A ...............1939
Debeuture, Series B .............1939 *18** *2 6 ’ "
Det. A Ohio. Ext. 1st, 5s, g .1940
93% 96
Bt L.K.C.&N.—St.C.Bdge6s.l90a . . . . . . . . . . .
48
Went N .Y.A Pa.,gen.g. 2-3-1 a 1943
13
Incom e 5s..................... ..... .1 9 4 3
West. Va. 0. A Pitts.—1st, 6 s .1911
91 ' . . . . . .
W heei.AL.E.—1st. 5a, g o ld ...1 9 2 6
W heeling lMv., 1st, 5s, g ...l 9 2 8 . . . . . a i . . . . . . .
ExttwtRlon A ltn p , g., 5 a .,...1 9 3 0 . . . . . . . . . . . .
.....
Wls. Cent. Income 5 s .............. 1937

notation8 made Hits wee*, (for m ic e lla n e o n a H on d a -S ee 3d page preceding

THE CHRONICLE.

Ma y 1, 1897.J

In v e s tm e n t
AND

R oads .

837
Latest Gross Earnings.

Week o r Mo

1897.

$

1896.

" : "
'- a
Jan. 1 to Latest D a ttm
1897.

|

1896.

$
8
Ind. IH. & Iowa. February .
127.517
56,985
156,632
In. A Gt. North’n 3d wk Apr.
1,037,322
75.976
929,767
J ta itr c r a d
In te llig e n c e .
JInteroo. (Mex.) W k.Apr 10
723,925
47,644
598,146
Iow a C en tral... 3d wk Apr.
25,080
453,226
601,679
Iron R a ilw a y ... March. ...
10,154
3,146
12,573
Jack. T. A K. W. February .
27,989
54,974
59,199
RAILROAD EARNINGS.
Jarae8t’ n A L. E . J anuary...
2,313
2,313
Kanawha&Mich 3d wk Apr.
136,113
8.827
8,243
143,568
T h e fo l l o w i n g t a b le s h o w s t h e g r o s s e a r n in g s o f e v e r y K.C.F.Scott AM. 3d wb Apr.
69,510
64,399 1,319,986 1,284,026
s t e a m r a ilr o a d fr o m w h ic h r e g u la r w e e k ly o r m o n t h l y r e tu r n s
K.C.Mem, A Bir.,3d wfeApr.
18,379
373,031
18,099
347,705
94,003
c a n be o b t a in e d . T h e first t w o c o lu m n s o f fig u r e s g i v e t h e Kan. C. N. W ---- M arch.........
30,677
66,902
20,503
4,675
69,529
2,875
30,877
g r o s s e a r n in g s f o r t h e la te s t w e e k o r m o n t h , a n d t h e la s t t w o Kan.City A Orn. 3d wk Apr.
K.
C. Pitte. A G .. 3d wk 43,891
Apr.
476,166
10,035
180,735
c o lu m n s t b e e a r n in g s f o r t h e p e r io d f r o m J a n u a r y 1 t o a n d Kan.C. Sub. Belt 3d wk Apr.
8,396
106/204
5,034
78,549
i n c lu d i n g s u c h la te s t w e e k o r m o n t h .
Keokuk & West. ,2d wk Apr.
7,593
101,540
7,760
120,229
6/272
20.377
18,303
5,883
The returns of the street railways are brought together sep­ L. Erie A ll A So. M arch.......
L. Erie & W est. 3d wb Apr.
62,940
68,821
976.681 1,030,024
arately on a subsequent page.
Lehigh & H u d.. March.......
26,013
81,630
32,452
93,879
13.322
v 6.860
L ex’gtonA East. F eb ru a ry .
14 655
32,142
Latest Gross Earnings.
Jan. 1 to Latest Date. Long I s la n d .... M arch....... 239.608 233.928
623.354
631,219
R oads .
7.374
Los Ang. Term. M arch.......
17,741
23,860
6.589
1897.
1896.
1896.
Week or Mo 1897.
Louis.Ev.&St.L 3.1 w kA pr.
398/232
25,548
420,272
28.608
Lou.Hen. A St.L. 2d wk Apr.
121,764
7,727
120,364
8,606
$
$
$
Louisv.&Nashv. 3d wk Apr. 360,725 350.020 5,945,034 5,941,822
20,571
35,538
li.1 0 3
28.263 Macon & B irm .. March. ...
A diron dack....... F e b ru a ry .
4.922
16,865
4.434|
17,747
467,016
24,4 6
27, 68
426,681 Manistiq u e ....... . March. ...
A la. Gt. South.. 3 i wk Apr.
5,575
29,093
12,199
33,408
62,405
134,086
119,031 Memphls&Chas. 3d wk Apr.
54,808
Ala. Midland .. February .
380,254
22,520
398,774
19,185
Ala. N. O.Tex. A Pac June
Cent.. 3d wk Apr. 299.673 185,676 4,012,094 3,010,296
46,000
42,000
338,755
348,843 tMexican
N Orl. A N. E. 4tlrwkMch
exican Interil. F eb ru a ry . 257/230 245.106
5 1 8/2-6
479.653
21,000
156,992
16.000
143,725 M
Ala. & Vtoksb. 4thwk Mch
jM
ex.
National.
3d wk Apr. 100,143
84,299 1,763,749 1,466,740
23,000
18,000
148.284
134.180
Vicks. 8h. v P ttti wk Mch
56.006
10^,414
73,229
Northern. February .
149,177
185.043 201, 21
5 3 1,763
561,861 Mex.
A llegheny Val.. March.......
73.000
R’ way j Wk. Apr *10
62,000 1,017,500
850,500
377 035
23.513
33 , 36 tMexican
20,840j
A nn A r b o r ....... 34 wk Apr.
14,780
194,119
10,563
147,080
15,291
7,883
16.385 M exican S o....... 1st wk A pr
7.3 <2
Ark. M idland... iFebruary .
27,719
514,149 . 554.396
32,476
Minneap.&St.L. 3d wk Apr.
Atch. T. A 8. Fe. March....... 2,543.470 2,274,663 6,973,509 6,968,278 M.
3d wk Apr.
62,157
v 70,839
56,062
96 <,948
256,168 Mo.St.P.dfcS.St.M.
287,608
A tlanta & Char.; February | 142,969| 128,74
Kan. A Tex. 3d wk Apr. 203/22 i 221,414 3,276," 93 3,474,885
101.686
45 986
48.0r>7
96.899
Atlanta A W. P.j February .
3d wk Apr. 372,000 347.00 d 6.463.000 6,340,508
164,308
13.554
167.866 , Mo.Pac.&IronM
Atlan. A D anv.. 3d wk Apr.
13,594i
304.00 ► 205.935
1 2,000
Br’oh.j3d wk Apr
16.000
Atlantlo A Pac..|February . 302,260 291,299 i 580,711
5 4.781 ! Central
T otal............ 13d wk Apr.
3-8.000 359.000 6.767.000 6,546,443
5,4 021
Augusta Sout’ n January...
6,6931
5,402 !
6,693
5,502
85,332
97,611
4,663
Mobile
&
Birin.
J3d
wk
Apr.
34,787
18,617
17.533
39,218 M obile & O h io.. M arch.......
Austin A N’ -vest February .
973,233
877,700
288.329
31.800!
75,600
28.024
77,297 Mont. & Mex. G if,M arch....... 318,908
Balc.Ches.& Atl. M a r ci........
351,143
132,085
295,671
104,037
Balt. & Ohio . .. .March . . . . 2,100.467 1,916.268 5,828,679 5,272,205
415/204 404 943 1,249,237 1,287,880
St. L. M arch.......
Bal. A O. Sou’ w . 3d wk Apr.; 102,463 114,368; 1,766 965 1.845.477 , Na8h.ClL&
A Ft. Sh’p ’u February .
19,129
9.375
9/247
5,000
53.499!
53,499
50,025
B angor AAroost January...
<rtnl
50,025 I Nel.
5.486
3,638
1,911
2,811
2,026
2,046 Nevada Jen tral.;F ebru ary.
2,026
2,046
Bath A Haiu’nds J a n u a ry ...1
10,241.000
3,799.597
10,283,911
3,599.304
N.
Y.C.
&
H.
R
.J
M
a
rch
......
5,344
Bir. & Atlautio. March.......|
2.0651
5,563 N. Y. Ont. A W .. 3d wk Apr.
1.588,
947,619
64.H38
63.205 1,020,693
43.412
88,720,
B ransw ’ kAWest Fe »ruary.
37,823
96.022 N.Y.Susq.
A W .. [March.......
488,931
48 .793
162.517 166.268
65.886
Bud.Koch.tfePitt 3d wk Apr.
61.371!
902,941
903.969
106,014 Norfolk A West. 3d wk Apr. 156,043 203.098 3,085,569 3,425,189
120,80 i
Buffalo A 6u sq.. March-----37,473
4 8 .-5 9
5,429
Northes’n(G
a.).
January...
6,105
5.429
6.105
65.861 1.1 7,635 1,34-/279
Bur.C. Rap. A N. 3d wk Apr.
55,807!
505.941 514.957 1,580.458 1,468,944
Canadian Pacific 3d wk Apr. 366,00 | 335,0‘ > 5.2 r , 963 5,337,657 North’n Central M arch.......
North’
u
Pacitic.
3d
w
kA
pr.
4,588,765
4,154.994
296,583
2b9,075
5,018
17,056
3,565
14,427
Car. M idland...!M arch.
5.892
6.416
2.936
3.490
Cent, o f Geortria 3d wk A p r.1 74,1^*3
7^,903 1,618,019 1,685,346 Oconee A West. F ebruary.
251.842
284,025
19,669
21,778
Central o f N. J . February _ 848,9*9; 821,544 1.7 04,155| 1,831,117 Ohio R iver.........3d wk Apr.
52,589
18.762
Ohio
R
iv.A
Chas
M
arch.......
55,079
17,730
1,663,
64
804,25
li
1,736,739
880.249
Central P acific.;February .
153,575
193,299
56,523
63.418
63,913
Chariest’ nASav. February .
134.899
121,351 Ohio S outhern.. M arch.
67.873
27,287
27/287
189.416 190,391 3.3 44,524 3,105,516 Ohio Valley....... January...
Ohea. A Ohio---- 3d wk Apr.
471,165
457.470
Oregon
Imp.
Co.
February
.
214.783
226,960
Chic. Bur. A Q.d March. .. . 2,995.739 2,742 142 8,437,829 7,904,162
869,855
951, r>74
Chic. A East. 111. 3d wk Apr.
84,881
86,357 1,235,909 1.256.477 Oreg.KK.ANav. M arch .___ 312,794 2*3,342
647.370
7 i9 .8 -8
Chic. Gt. VVesfu 3d wk Apr.
82,591
81.318 1.396.722 1.459,459 Pacido Mail....... Februarv . 363.181 343.897
14,893,737
14,306,637
5,064,732
5,253.932
Pennsylvania.5.
March...*..
Ohio.Mil. A St. P. 34 wk \pr. 504,938 552,605 7,928,234 9,034,458
262,429
257,.
92
14.594
15/210
Ohio. AN ’ t h V n . March....... 2,373,266 2,616.743 6,676,233 7.448.284 Peoria Dec. AEv. 3d w kA pr.
141.440
52.7 96 i 49.499 137,190
I 45,0841 138,310 Petersburg........ M arch.........
Ohio. A No. Pac. February .
60,189
70,556
535,429
535,777
203.492
241,385 Phila. A Erie— February . 280.572! 246.622
Chio.Peo.Ast.L. March.......
7u.331
84,0«»0
4,753,493
Piiila.
A
Head...
M
arch.......
1,548.482:1
594
369'
4,581,042
Chic. K'K I .A P
March....... 1,237.493 l,275.e61 3,329,135 3,576,096
1
n
i t a 11,603 rTA~7
A I lift
4,901,539
Coal A Ir.C o.. M a r ch ..... 1.250
747 4.460,360
099
Chlo.St.P.M. jeO. March....... 556.544 584,686 1,618.103 1.759.284
Tot. both Co’ s. March. . 2.804,581 3,1«8,116 9.041.402 9,715,032
28.5891
441,064
Chlo. A W. Mtch. 3d wk Apr.
438.376
27.942
100,581
84.826
49,b82
42,398
230,616 Ph. Kead. A N .E . February .
Choc. Ok.A Gulf February .
201,231
88.328 101,132
12.049
Oln.Ga. A Ports. March____
4.156
13.580 Pitts.C.C.A St.L. March....... 1,136/233 1,210.284 3,289.926 3,624.055
4.721
10.334
11,806
3.376
4,104
Oln.Jack.A Mac 3d wk Apr.
213,195 Pitts.Lisb.AW ’ u March.......
201.648
12.717
14,750
140,117
110,067
45,351
41 *01
824,077 Pitts. Sh. A L .E . iM arch.......
815.499
Otn.N.O. A T . P. March. ...
290,703 280,92 >
447,567
416,144
34,087
30,160
21,553 Pittsb. A Wes’ u. 3d wkA pr.
17,652
Oln. Ports. A V.{January...
17.652;
21.553
230/251
16,894
205.811
15,858
Pitts. C l.A TolJ3d wk Apr.
Clev.Can. A S o.. 3d wh Apr.
181,874
177,322
14,788
13.086
60,392
58.788
4,762
6,187
Pitts. Pa. A F . 3d wk Apr.
CLGln.Ch.A8t.L 3d wk Apr. 232,0.19 2 3 9 .lo 2 3,80~,0vj0 3,780,675
743.144
685.95c
50,789
57..
68
Total
system
..
3d
wk
Apr.
Peo. A East’ u. February . 137.249; 139.490
294.289
262.656
233 413
195.721
90.951
81.124
360,175 Pitt. Young. A A .! M arch.___
332,852
CL Lor. A Wheel. 3d wk Apr.
27.911
25,955
67,740
72,143
25.778
25.930
439.442 Quincy O.ei K.C. March,
387,579
Col. M idland— M arch___
137.096 149,928
109,615
98.549
54,767
49.9*5
524.762
Col H. V. A Tol. March.......' 188.92o 209,687
622,057 Kich.Fr’ ksb AP. F eb ru a ry .
83,214
78,494
28
572
Rich.
A
Petersb.
29.956
March.
11,5521
CoLAKedMount F ebruary.
22,778
120,119
8/275
89.948
6 420
Col. Sand’y A ti. M a r ch ___j
178.527 Rio Gr. South’n. 2d wk Apr.
176.093
56.863
55.656
621,171
641,574
49,700
44,300
Rio
Gride
West.
3d
wk
Apr.
Colusa A Lake.. March.......i
2,700
3,800
1,150;
700
09,374
72,975
23,660
25.064
M79
2,194 St.L. Ch.A St.P. March.
Crystal .............February .1
516
1,016
13,155
14,506
4 879
3,785
120.901 St.L.Ken’etASo. March
Cninb’ l’d Valiev February . | 50.6751 57.198
105.859
526,755 515.015 1.414,333 1,491,341
Denv. A Rio Gr. 3d wk Apr. 125.700! 129.6'h) 1,829.24 4 2 ,0 2 4 ,7 '3 St.L ASan Fran. Marcn,
1,448,364
1,324,407
77.50
7
71.654
8LL.
Southwest
3d
w
kA
pr.
Oes M. A Kan.C 2d wk Apr.
31.293
40.766
2.7911
2.522
276 872
291,587
99.0*0 103 938
Des. M. N. A W .. March.......
92,067
113,945 St. Paul A D u l.. March.
29.699
39.741
271,301
283.342
Det. G.Kap.A VV. 3d wk Apr.
309,783 San Ant. A A. P . February . 131,420 127.520
35 L,417l
23.171
20.794
146 978
137.392
49,724
49.494
D et.A Maokluar February .
82,647 SanFran. A N .P. March
46.635
74,099
42.991;
575.342
588 779
285,130
267,670
Sav.
Fla.
A
West.
February .
Duluth8.8.AAtl. 3d wk Apr.
517.501
23,9121
387.322
29,363|
68.926
72
466
6.155
8,941
Sher.Shrev.ASo.
4th
wk
Mch
ElglnJol.AEawt. March.
3
43.705
100,154 134.195
273.8 0
30,442
22.680
14.966
10,529,
E r ie ................... March......... 2,455,706 2,489,0 73 6,853,868 6,981,»57 811. Sprs. O. A G. February .
77,140
52,260
12
471
3,554
S
ilv
e
rto
n
..........
December.
4,796
3.642
3.642
EnrekaSprings Jauuary...i
"
' !m '
4,796
95,749
116,607i
E vana.Alud’ plie 3d wk Apr.
91,913 So. Car. A Ga. .. M arch.......
4.4 ’ ll
74,395
6.621!
4,904
3,025
1,487
1,930
29,336 So.Haven AEast M arch.......
21.024
Evans. A R ich .. 3d wk Apr.
1,463!
1,591
342,753 So. Pacific Co. Kvansv. A T. H . 3d wk Apr.
279,700
18,702
20,198!
860,433
725.833
Gal. Mar.A 8.A February . 348,302! 385.870
492.29* 491.0421 1,020,064 1,0*9.060
F itch bu rg......... February .
172,828
173 297
76.331
85,860
Louis’ a. West. February .
Flint. A P.Marq. 3d wk A nr.
854,374
52.627
831,887
53.007
904,614
858.201
Morgan’sLAT. February . 421,638, 401 045
642,521
Fla.Cent. A Pen. 3d wk Apr.
708,461
49,3 6
47.657!
29,372
43.974
13.627
20 177|
N .Y .T . A Mex. February .
Ft. W’thADen.C. 3d wk Apr.
274,799
294.917;
22,230
21,714
228.401
250.013
Tex. AN. Orl.. February . 123.918 100.295
Ft. W. A Rio Gr March.......j
91,523
17,934
64 ,511;
24,673
/
2,230
564
f
2,0*0
450
^989,077
Atl. P rop’tes.h February . / 1 0 l0692
2,606
Gads. A Att. U. M arch.......
2.068
699
844)
Paoiiic system F eb ru a ry . 2.127,657 2 464,382 4 442 082 4,847 870
494,811
497.502
G eorgia R K .......3d wk Apr.
24.157
21.935
11,069,350
10,715
457
Total of all.e M arch....... 3,913,511 3.741,885
189,318
Georgia a A la .. :->d w k A p r .
319.601
19,791
14,231
So. Pac. o f Cal. February . 652.456 830.043 1 ,3 8 1.9U2 1,629,141
259,402
Ga. Car’ la A No. March___ j
224,755
77.409!
60.931!
437,994
415,0*4
So.Pao.ofAriz. F eb ru a ry . 203.011 220.. 17
Geo. 8o, A F la..iM arch .......I
220,667
210,8281
63.9481
63.4«8i
209,963
206,335
So.Pac.ofN.M . February . 103,038! 106 919
599,460
550,0451
Gr. Rap. A lu d ..i3 d wk Apr,
34 530!
40,219)
310.547
2
5,973
156,567
Northern R y .. F eb ru a ry . 138,659;
130,909
Ctn.R. A Ft.W 3d wk Apr.
115.910!
7,822
8,746
5,674.106
5,875
244
335.069
346,*40
Southern
R
y___
3d
wk
Apr.
13,724
TraverseCity 3d w kA pr.
6 *1
11,701!
752!
51,783
92.804
26.005
46,149
4 1 ,1 -7 Spok.F’ls A Nor F eb ru a ry .
Mas. G. R. A 1. 3d wk Apr.
3 ',707
2,094
3,395
76,546 1,C7*,057 1,106.132
77,017
Tot. ail liner 3 t wk Apr.
785,279 Staten I.Rap.Tr. November,
708,422
44,637
53.112
1.474
2,107
995
098
Grand T runk.. 3d w kA pr. 348,265 341,486 4,989,791 4,939,032 StouyCl. A C.Mt. February
242.840
205.706
88,436
66,647,
937,268 Summit Branch. M arch___
841.029
Ohio. A Or. Tr. 2d wk Apr.
55.528
65,3051
226
350
200.135
75,879
61,636
Lyk. Val. Coal. March—
Det.Gr.H.AM 2d wk Apr.
242,7*3
266.965
17,478
17,298
469.196
411,811
128.283 164.315
T ot’l both Co’s M arch—
36,112
Cln,8ag.AMa< 2d wk Apr.
28.750
2,188
2,v*08
64,329
50,5iO
3,842
3,840!
17,782 Texas Central.. 1st wk Apr
Tol.8. A Musk 2d wk Apr.
28,905
2,220
1,475
92,505 1 ,9 7 6 / 95 1,929.993
Texas A Pacitic. 3d wk Apr. 110.327;
Great North’ n 8.072
8,895
2,237
3,04l|
Bt. P. M. A M i M arch.. . .
998,543 1,102,120 2,583,424 2,834,844 T ex.S .V .A N.W. M arch.......
529,127
484,411
31,6.>5
33,240
359,769 Tol. A Ohio Cent. 3d wk Apr.
East o f Minn..|March___
260,956
88.906 131,730|
285,151
745,174
15/2.'8
13/264
MontanaCeni. March___
462,06 91 450,172 Tol. P. A West.. 2d wk Apr.
165,858 151.636
561,966
6 il,8 U
37,264
39.804
T ot. system March___ 1,253,307 1,385,4-6 3,306.449 3,644,785 Tol. St.L. A K.C. 3d wk Apr.
799,899
884,867
54,*60
66,560|
15,671 U n .P .D eu .A G .. d wk Apr.
OTf B’inntAK.C March___
26,381
10,23*
6,833
10.057
Union
Pacific—
Gulf a Chicago Marcii. ..
11,326
3.673
2,823
986,097 925,467 1,987,840 1,862,796
Union P. R R .. February
11,466
Hoos.Tun.AVVU March. ..
10,562!
3,760
750,283
752,776
482/276
Or.S.L. A U.N F ebru ary. 354,807 363,583
Hons. A Tex..Con February
477,167;
236,641 208.743
321,351
185,016
20,700 . 14,600
St. Jos. A Gr. I. 3d wk Apr.
Illin ois Central t March....... 11726161 t 1724831 t5.405,210 15.400.738
205.934
297,077
12,000
16,000
3d
wkA
pr.
’
l
l
.250
Cent.
Branch,
ft
110 ft t ft
Ind.l>ec.A Weat.3 d wk Apr.
8.008
9,781
$
77,617
55,463
39,534
32,890
4,475
30,668

THE CHRONICLE.

H38
m u s t tiros* darning*
SOACA

Weekor Mt

1897.
_

1896.

1 to

Jan.

m u st

1897.

2n d week o f March

1886.
Svansv. A R ich m on d ...
G eorgia A Alabama..
Interoceam o (M ex.)’ . ..
Keokuk A W estern.........
Memimts A C harleston.
Mexioan R a ilw a y .........
Un. Pao. Don. A G u lf...

f

~Y ~

Cu. Pa*'.—(C»rm.;

Dale.

A«h.< o :.4 l‘. I
k c h J CA W j I t V b r w r

fVOL, LXIV .
1897.
8
1,461
16,313
47,644
7.593
20.320
73.000
66,560

1896
8
2.195
12,700
39,534
7,760
19.380
62,000
54,860

Increase.

Deeriast.

S

i

3 616
9,1 l f

734

48,209
72,653
38,603!
23,764!
167
53,053! 169,077; 116,291
90.53.
940
c m . b '. a lv . February
11,000
Q t'd total.*« fibruAIT i .0*5.917 1 601.333; 3,368,440! 3.046,962
WsJtnsh........... . 3d « k Apr. 310 638 *81,9«4! 8,240.370 3,570,940
.. .-.-.-a,
■ 11,700
__ _ _
33.639
40,015
20,877!
18.481*
W s - o * North* February .
Total ;83 r o a d s __
6,358.389 6,385,874
259,10,
261,137
W ,J»-w| *.8i-»V F ebruary . 128,147 129.545
324,912
352,397
273-572 Net doors**•>*• (1*43 n 259,784
97,607! 102,971
W.v.Oan.* pim> March,—
27.48.5
-a.. -. —
27,533
27.513:
27,141
27,144
« N ! V » .4 Pitt* January...
* Week o f A pril 10.
47,93!
99,7-8
113,436
66.320
W »i* n s o f A la F ebruary..
781,313
793,029
51.700
46 9 0.
West .< Y A r* 3d w t Apr.
360,36-.
*9.009
18.969;
288,78*
Wheal. A !.. Ert. 3d w* A nr.
Net Earnings ttnnthty to Latest Hates.— The table fo llo w ­
74,19*!
69,947 1,145,95' 1,121,7*6
Wisconsin (V « ! 34 wk Apr.
27,701 ing shows the net earnings of Steam railroads reported this
0.419
22,348
9,937
W nghtsv.ATen March.......
jTu ;im given do not tnolnde Oregon Ry. A Nav., On. Pao. Denver* week. A full detailed statement, including all roads from
aolf. Der.v. r Leadvllle A Gnntusoa, Montana Onion and Leavenworth which monthly returns can be obtained, is given once a month
toyeks A 3.'ntb western. u These ffgurea Include results on eased llnee in these columns, and the latest statement of this kind will
• Includes earnings from ferries, e tc., not given separately. 1Mena»n currency, c Includes only halt of Unes In which Onlrn Pacltie has be found in tbe Chronicle of April 17, 1897. The next will
appear in the issue of May 22. 1897.
a nal* interest’
d Includes operhllsas Of the Ohio. Burlington A Northern in both

ynam

t Clivers results for lines directly operated east or Pittsburg.
•Includes results on affiliated lino*.
r Co vers besides the it! ratio System the Houston A Texas Central,
i a t t i a v Northwestern, Central T e n * a Northwestern and Ft. Worth
A New Orleans,
i Includes St. Louis Alton A Terre Haute for all periods.

Latest Wroxs burning.- by Weeks.—The latest weekly earn­
ing? in the foregoing are separately summed up as follows :
For the third week of April our preliminary statement
oovere 71 roads, and shows 1*S8 per cent increase in the
aggregate over the sam e week last year,
3d

stork o f A p r il.

Alabama Ot. Southern..
Ann Arbor.......................
Allan! 3 A Danville.......
Balt. A Ohio eouthwest..
Buffalo Rooh, A PiUsb’g.
Burl. Cod, Rap. A Nonh.
Central of Georgia.........
Chicago A East, Illinois.
Chicago Great Western.
Chicago MUw. A 8t. Paul
Chic, A West Michigan...
CSn. Jackson A Mackinaw
C.cYc. Canton A South'n
d e v . O n. Chic. A Bt. L..
d e v . Lorain A Wheeling
Denver A Rio Grande.,
Detroit Gr. Rap. A West.
Dalulh 8. 8. A Atlantic,.
Bvansr. A Indianapolis
Evansville A Richmond.
S u a iv , a Terre Haute.
Flint A Peru Marquette.
FI*. Cent. St Peninsular..
I t Worth A Benv, City.
Georgia.............................
Georgia A Alabama........
Grand Rapids A Indians
Cin. Rich. A Ft. Wayne
Traverse C ity..............
Mus. Gr. Rapids A Ind
Grand Truna ul Canaan
Indiana Decatur A West.
In te n d A Gt» Nortb'n .
Iowa Central...................
Kaaawna A Michigan__
Jfjux. ftlty Ft. 8. & Mem.,
K%n» City Mem. 4s Blrm.
Kan.** City A Omaha...
Kan. City PItub. A Gulf
Kaa. City Suburb. Ben .
Lake Erie A Western ...
Loutsv.Evansv. A 8t. L.
iimitotviU# St haefevlile.
Memphis A Charleston.
Mexican central..........
XxUonal__
Minneapolis A 8t. Louis
Minn. 8t, P. A 8 . 8. M__
Mo. Kaa*a* Sc Texas.....
Mo. Pacific. & Iron M t....
Oeairml Brno eh.___ ...
& BlrmtDRh&m...
si.
Ontario St Weavers
Horfolk & We*tern__ ...
tsm%h era Faeino.............
Oftt# H fs r ,
a.
.
F#orta turn. 4c Kraanv . .,
FllMttierx St. Womtora...,.,1
R»>,> Grande Western.......
Bti. 2 oom ph St 04,
IdflNuia tlcmUi we*t«ra..
h& tn Hullffay»
Tux**m St. {‘ftcino ***.*»».,j
Toledo A Ohio Central.,!
lo k
it, St i£-&»* City..
•hhssfc.............. .
i
W»»;p N. y . * Peohsylv ]
W'kw*3!j*# & U tft# K ri». , j
• Lownsin t S s n t r a l \

1897.

111
, .,
| 8,111,3-1
* «« lt»ilf». oe i 1 - s pi. o4.|

Fo

j

S
1
27.76S
23.51S
13,594
102,463
61,371
55,807
366,000
74,153
189,416
88.881
82,591
504,938
28,589
12.717
14,78^
232,039
27.911
125,700
23,171
23,912
4,491
1.463
18,702
52,627
411,376
22,230
24,157
19.791
34.530
7,322
691
2,091
348,265
8,006
75,976
25.080
8,243
69,510
18,379
1,675
43,b9l
8,396
62,940
25.548
360,725
22,520
299,673
100.143
27,719
62,157
203,223
372,000
16,000
5.502
84,938
1*6,043
296,583
10,<.69
14,591
50,786
44,3001
20.700
77,507
340,840
110,327
33,240
39,804
210,122;
40,900

1896.

In crea se.

6

$

24,416
20,840
13,554
114.366
65,8r«
65,861
335.000
73,903
190,394
86,357
81,316
552,606
27.942
14,750
13,086
239,102
25,956
129,500
20.794
29,363
6,621
1.591
20,198
53,007
47,657
21.714
*1,935
14.231
40,219
6,746
752
3,395
341,486
9,781
55,463
32,890
8.8*7
61,399
18.099
2.875
10,036
5,034
68,8*1
28,608
350,020
19,185
185,676
84.299
32,476
58,062
221,414
347,000
12,00u
4,663
63,205
203.09c
299,075
21,77 b
15,216
57,108
40,706
14.600’
71.651
335,000
92,505:
31,63 V
37,264
231.064
61,70 V
20,00-}
69,842

5,998,755

3,352
2,673
40
--•vr
--a.
31,0<K
250
2,5 '4
1,273
647
1,702
1,950
2.377

1,719
516
2,222
5,460

6.779
20,513

11,905
4,515
10,054
97s
47,667
2,033
"7,063

" jsoo
5,451
2,130
128
1,496
380

5,689
1,424
61
1,301
1,773
'Y .sT o

5,111
280
1,800
33,850
3,362
10,705
3,335
113,997
15,844
6,095
25,000
4,000
839
1,733
—
6,100
5,853
11,771
J7.322
1,611
2.540

584

5,981
3.060

4,757
18,i9L

47,055
2,492
2,104
622
0.388
5,400

21.342
4,358
367,113
112,033

4,800
10,041

240,490

the second week of April our final sta te m e n t c o v e r s
-i* . am t s h o w s Q'14 p e r tvsnt d e cr e a s e m th e a g g r e g a te
h«* M ] « week last year.

2d meek o f April,

1897.

•
Wr%t*!j? trpotic*4 {7S f d o 0,122,704
Sim MMttm *k Kma, Oily ,
2,791

1896,
f
0.184.023
2,52f^

Increase.
*
280,277
26f#

Becreane.
i
351,496

----- ®rms &q.mmas.-— , ----- Net learnings.------1097.
1896.
1897.
1896
Hoads.
«
*
«
8
Alaba ma Gt. South.u . Mar.
121,539
123,520
29,949
34,031
Jan. 1 to Mar. 3 1 .......
384,128
354,646
90,600
00,040
Ju ly 1 to Msir. 31. . . . 1,243,173 1,307,709
437.807
468,396
A llegheny V alley___Mar.
185,043
201.321
65,822
66,339
Jan. 1 to Mar. 31.......
531,763
561,361
195,062
173,310
A toh .T op. A S. Pe.b.M ar. 2,543.470 2,274,663
■512,834
*534,610
Jan. 1 to Mar. 31....... 6.973,509 6,968,278 1.469,598 1,914,97 4
July 1 to Mar. 31. ...2 3 ,1 6 0 ,6 7 7 22,377,641 *6,458,196 ’ SMflO.'iao
Butt. R ooh.A Pitte,b.,M ar.
252.890
231,107
78,967
49,137
739,059
705,233
243.05L
193 331
Jan. 1 to Mar. 31.......
Ju ly 1 to Mar. 31....... 2,534,094 2,342,308
852,328
692.313
Canadian Paoltto. a.M ar. 1,520,945 1,503,603
520,213
476,531
Jan. 1 to Mar. 31....... 4,113,963 4,303,657 1,278,370 1,306,213
Cent, o f Georgia, a.A far.
415,312
421.071
125,613
120,777
Jan. 1 to Mar. 31....... 1,398,922 1,463,638
528,715
538.107
J u l y l to Mar. 31....... 4,299.081 4,409,283 1,655,205 1.648.697
Chic. Burl.&Quln.b.tM ar. 2.995,739 2,742,142 1,353,728 1,06 i,373
Jan. 1 to Mar. 3 1 1 .... 8,4 37,829 7,904,162 3,591,715 2 ,7 8 ',5 1 0
Ohio. M. A 8t. P .a ...M a r . 2.336,326 2,749,354 1.010,371 1,114.398
Jan. 1 to-Mar. 31....... 6,466,514 7,384.655 2,500,494 2,642.212
July 1 to Mar. 31........23,204,798 25,452,379 9,285,372 10,544.808
Cleve. Canton & 8o..M a r.
54,909
50,150
9,662
10,209
Jan. 1 to Mar. 31. .. .
142,804
139.366
21,186
21,770
July 1 to Mar. 31_
510,458
518,751
92.050
118.184
d e v . Lor, A W heel...F eb.
82.032
94,201
29,014
19,503
Jan. 1 to Feb. 28.
169,012
1 -7,56 5
38.757
58,178
JulF 1 to Feb. 28.
767,504
1,033,895
235.472
321,790
Den. A B. G rande.b..M ar.
520.780
556,804
228.658
228,958
539,356
Jan. 1 to Mar. 31. 1,447,844
1,640,853
645,029
July 1 to Mar. 31. 5.217,304
5,723.122 2,105.826 2,481,953
Ed. El. r u .0 o „ Bklyn.Mar.
71,729
60,839
34.229
29,882
Jan. 1 to Mar. 31.
225,295
211,963
108,629
9 7 ,9 5 0
Erie ........................... Mar, 2,455,700 2,489,073
557,523
619,701
Jan. 1 to Mar. 31. 6.353,863
6,981,957 1,285,723 1,472.851
July 1 to Mar. 31.2 3,454,790
23,896,441 6,071,532 6,000,538
Eureka Springs___ ..Jan.
3,642
1,139
4,796
2,459
Fall Brook—
134,367
Jan. 1 to Mar. 31.......
130,025
46,330
30,476
123,941
G oorg la .a ................... Mar.
129,041
27,854
32,638
428,279
Jan. 1 to Mar. 3 1 .......
420.232
140,794
140,992
July 1 to Mar. 31....... 1,289,731 1,212,783
1434,651
U l 4,522
63,498
Ga. South. A F la.a...M ar.
03,948
16,291
8,563
220,667
71.968
Jan. 1 to Mar. 31.......
210,828
74,290
664,541
228.287
667,443
July 1 to Mar. 31.......
256,961
66,613
Lehigh V alley R R ...M ar.
In c.
I do . 125,326
Jan. 1 to Mar. 3 1 .......
Deo. 129,417
lu o . 94,826
Deo. 255,088
Dee. 1 to Mar. 31.......
In c.
1,031
253,114
Lehigh Val. Coal Co.Mar.
Deo.
Ino. 83,273
Jan. 1 to Mar. 31.......
Deo. 267,504
luo.161,518
Deo. 1 to Mar. 31.......
Deo. 144,527
lno.210,695
Minn. A S t.L ou is..a.M ar. 166,638
162,426
77,369
71,990
Jan. 1 to Mar. 3 1 .....
429,284
456,680
163.177
171,003
655,562
July 1 to Mar. 31..... 1,526,436 1,587,702
081,400
79,800
44,568
N. Y .O ut. A W est.a..M ar.
303,726
258,716
Jan. 1 to Mar 3 1.....
818.329
133.717
763,881
115,781
802,906
July 1 to Mar. 31..... 2.945,534 2,811,108
880,234
N Y Bus. A West. b..Mar.
162,517
68,049
73,017
166,268
Jan. 1 to Mar. 31.......
486,793
48 •<,931
200,958
20.3,513
July 1 to Mar. 31....... 1,720,404 1,677,356
774,639
709.377
North. Central. t>.......Mar.
505,941
127,681
147,131
514,957
344,853
Jan. 1 to Mar. 3 1 ..... 1,580,453 1,483,944
489,606
233,342
102,060
Oregon RR. A N av..M ar,
312,794
Pennsylvania—
Lines directly operated—
E astof Pitts A15..Mar. 5,061,732 5,253,932 1,619,922 1,592.6 22
------------ 4,039,620 3,759,520
Jan. I to M ir. 3 1... 14,306,637 14,893,737
20,500
tno,
W estof Pitts.*G..M ar.
Deo. 138.601
74,400
I no.
Jan. I to Mar. 3 1 ...
Dec, 659,600
623,597
624,308
Fbila. A R ea d in g ....M a r. 1,548.482 1,594,369
Jan. 1 to Mar. 31....... 4.681.042 4,758,493 1,904,002 1,874,527
Deo. 1 to Mar. 31. . . . 6,291.727 6,591,394 2,688,049 2,639,943
Coal A Iron Co.......Mar. 1,256,099 1,003,717 df, 107,042 def.51,891
J in . I to Mar. 31. . . . 4,460,360 4.981,539 dr.305,199 d0f.70, u 8
Deo. 1 to Mar. 31. .. 0,231,059 7,177,897 df.386,792 d f.3 l3 ,0 i0
517,326
571.706
T otal both Co’s ....M a r . 2,804,581 3,193,116
Jan. 1 to Mar. 31....... 9.<>4l,402 9.715,032 1,598,803 1,798,459
----------- 2,301,257 2,326,923
D ec 1 to Mar. 31____12,522,786 13,769,291
25,569
25,569
Reading C o............ .Mar.....................
86,553
96,553
Deo. 1 to Mar. 3 1 ...........................
597,275
542,895
Total all Go’ s .......... M ar................ .
2,307,810 2,423,476
Deo. 1 to Mar. 31...........................
21 0,15 6
229,057
515,015
St, Louis A Sail Fr .. Mar.
526.755
532,186
598,310
Jan. 1 to Mar. 3 L....... 1,414,333 1,191,341
Ju ly 1 to Mar. 3 1 .... 4.435,269 4,734,710 2,009,705 1,945,800
Southern Paoltto. b.,M ar. 3,913,511 3,741,835 1,238,933 1,035,716
3,269,83 0
____ _____________
Jan. 1 to Mur. 31.. .10,715.457 11,069,350 3,189,741
July 1 to Mar. 31— .37,41'), 155 38,760,027 13,085,314 13,981,813
Syracuse Gen. A Corn.—
149,709
42,503
34,570
Jan. 1 to Mar. 3 1 ....
144,673
Ulster A Delaware—
6,343
60,727
72,915
11,828
Jan. 1 to Mar. 11.—

THE - HR0N1CLE.

Ma y 1, 1897.]

------Gross Earnings.-----* ----- Net Earnings. —
1897
1896.
1897.
1896
Roads.
$
$
$
$
Wabash, b..................Mar.
936,438 1,002,364
323,536
311.166
JaD. 1 to Mar. 31....... 2,634.3^7 2,905,442
793,738
811,559
July 1 to Mar. 31....... 8,768,413 9,883.333 2,694,476 2,939.124

G ross
Earnings .

839
Latest Gross E arnings.
W eekorM o

1897.

Jan. 1 to Latest D ate.

1896.

1897.

1899.

$

Interest Charges and Snrplns.—The following roads, ii
addition to their gross and net earnings given in the foregoing,
also report charges for interest, &c.. with the surplus or dedei t
above or below those charges.

Scranton A Pittston.. M arch..
4.845
13,722
9oranton R ailw ay ... March..
27.349 25,523
78,9 U
75.437
Second Ave. (Pittsh.) M arch..
171,556 169,168 134,299 131,234
Syracuse E’st-gideRy M aroh..
2,69*
2.813
7,443
8,161
Syracuse Rap. Tr. Ry. M arch..
33.961 35,226
96,155 101,295
Terre Haute El’c. Ry. M aroh..
11,501 11,498
Third Ave. (N. Y.) ... M arch..
567, i 17 584,541
Toronto Ry. .............. M arch..
78,892 74,094 223,905 221,446
Twin City Rap. Tran. M arch..
157,192 154.542 449,373 458,516
Union (N. B edford)... March..
16,705 15,761
47,588
45,877
United Tract. (Prov.) M arch..
130,282 130,946 378,499 387,595
Unit. Trac. (Reading) March..
12,016 12,181
34,272
36,446
Wakefield A Stone___ M arch ..
3,837
3,297
10,346
9,518
Waterbury Traction.. March.
18,46
18,152
54,008
56,201
Wheeling R ailw ay... March..
12,530 13,417
36,639
37,073
Wil kesb. A Wy. Y alley1February . 34,449 36.334
73,868
75.192
t Includes results on North Side Traction Company, which was leased
in February, 1897 to the Second A ve. Traction Co.

—Inter’ *, rentals,
o f Net E arn 1897.
1896.
1897.
1896.
Roads.
$
$
$
$
Ohio. Burl.A Qulnoy.M ar.
890,000
881,107
463,728
185,266
Jan. 1 to Mar. 31....... 2,670,000 2,843,321
921,715
133,209
Denver A Rio Gr»de..Mar.
202,425 202,640
26.233
20,318
Ju ly 1 to Mar. 31....... 1,762.549 1,760,290
343,277
721,663
NORTHERN PACIFIC.
Jfar., 1897. Sept. 1 to Mar. 33.
Gross earnings.............................................. $1,354,508
$10,812,434
Operating ex p e n se s.....................................
852,685
6,377,014

Street Railway Net Earnings.—The following table gives
the returns of S t r e e t railway gross and net earning3 received
this week. In reporting these net earnings for the street rail­
ways, we adopt the same plan as that for the steam roads—
that is, we print each week all the returns received that
week, but once a month (on the third or the fourth Saturday)
we bring together all the roads furnishing returns, and the
latest statement of this kind will be found in the C h r o n i c l e
of April 17, 1897. The next will appear in the issue of Mav
23, 1897.
J

a Net earnings here given are after d educting taxes,
b Net earnings here given are before deduoting taxes
* For March, 1897, taxes and rentals amounted to $155,409, against
$156,022, and from July 1 to March 31, 1897, $1,425,591, against $1,453.794, after deducting which net for March, 1897, was $387,425,
against $378,634. and from July 1 to M arch 31, 1897, $5,030,605,
against $4,006,696.
t Includes Chioago Burlington A N orthern for both years.
XA fter allowing fo r other incom e received, net from Ju ly 1 to March
31 was $526,505, against $476,328.

Net earnings..........................................
T axes..............................................................

$501,823
42,900

$4,435,420
300,281

Net operating in com e................. .
Ml8oel. incom e not inclad’ g land sales..

$458,923
5,915

$4,135,139
135,266

Total net i n c o m e ............................... $464,838
$4,270,405
The operating expenses from 8ept. 1, 1896, include a p roportionate
iart o f the estimated taxes and rail and tie renewals fo r the current
iscal year o f the new com pany, being ten m onths to July 1, 1897.

STREET RAILWAYS AND TRACTION COMPANIES
The following table shows the gross earnings for th e la te st
period of all s t r e e t railways from which we are able to obtain
weekly or monthly returns. The arrangement of the table is
th e same as that for the steam roads—that is, the first two
columns of figures give the gross earnings for the latest
w e e k or month, and the last two columns the earnings for
th e calendar vear from January 1 to and including such latest
w e e k or month.
STREET

RAILW AYS

AND

TRACTION

Latest Gross Earnings.
G ross
Earnings .

Week or Mo 1897.

Akron B ed frtA Clev
Akron St.Ry.A Ell. Co
Amsterdam 8t. Rv.
Anderson El. 8t. R y ..
Atlanta Railway. ...
Baltimore Traction..
Bath 8t. Ry. (N. Y .)..

March.......
December.
F ebru ary .
March.......
March.......
Maroh.......
Maroh------

Btngnamton St. R y...
Bridgeport Traction.
Brockton Con. 8t. Ry.
Br'klyn Rap.Tr. Co.—
Brooklyn Heights..
Br'klyn Qu’ ns A 8uh
Total for system
Bullalo R y .................
Chester T raction..
Chic. A 8o. Side K T
City Elec. (Rome.Ga.)
Cleveland Elec trio ...

March.......
2d wk Apr.
.March.......

$
6,335
18.988
3.149
4,349
6,158
95,723
1.338
6,441
10,078
5.548
24,920

COM PANIES.
Jan. 1 to Latest DoU.

1896.

1897

1896.

$
5.379
20,523
3,650
4.397
6.237
87.267
1,286
6,258
9,932
5,3** l
22,051

«
17,046
210,247
6.845

*
15,389
189,2’>6
7,213

16.027
270.326
3.782

16.571
256,859
3.945

73,186
69,545

76,663
61,679

■Oross Earnings.-----.
Roads.
1897.
1896.
Albany (N. Y .)—
. *$ _
$
Jan. 1 to Mar. 31.......
125,357
119,821
BroofctonCon.St.Ry. Mar.
24.920
22,051
Jan. 1 to Mar. 31. . . .
69,545
61,679
Duluth Street R y __ Mar.
15,508
17,055
Herkimer M ohawk Illon
<te Frank. EL R y ...M ar.
3,720
3,667
Jan. 1 to Mar. 31.......
10,644
10,415
29,779
Lowell Lawr’oe <SrH..Mar.
26,790
Jan. 1 to Mar. 31.......
83,031
79,647
136,822
Metrop’n St.Ry.,K.C.Mar.
134,027
Jan. 1 to Mar. 31.......
383,858
388,466
J u n e l to Ma-. 31____ 1,466,827 1,479,933
Third Ave. KR. (N. Y .)—
Jan. 1 to Mar. 31.......
567,117
584,541
Waterbury Tract’n..M ar.
18,464
18,152
Jan. 1 to Mar. 31.......
54,008
50,201

— Net E a m m ss .—
1897.
1896.
$
$
31,461
33,998
2,869
8,345
16,327
21,803
5,858
8,793
2,615
5.273
10,211
27,348
56,960
151,839
626,509

1,937
5,275
6,553
21.281
51,117
139,310
611,800

185,855
6,926
21,415

231,335
7,115
24,450
Street

Interest Charges and Sarplns.— The following
railways, in addition to their gross and net earnings given in
the foregoing, also report oharges fo r interest, & c ., with the
surplus or deficit above or below those charges.

'-In ter’ t, rentals, <Ae.-, ^ B a l. o f Net E arns.—.
1897.
1896.
1897.
1896.
$
$
$
$
3,130
3,158
3,796
3,957
9.390
9,474
12,025
14,976

Roads.
Waterbury Trao-Co..M ar.
Jan. 1 to Mar. 31.......

ANNUAL

REPOR TS.

Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the I nvestors’ and Street R ailw ay S upplements.
This index does not include reports in to-day’s Chronicle.
A nnual

R a il r o a d s a n d M ib c e l . C o ’ s.
St r e e t R a il w a y s .
Volume 64—
Page.
Volume 64—
Page.
American Bell Telephone...... 797
Akron St. Ry. A Ilium................... 607
Canadian Pacific...................
752
Baltimore Traction ...................... 607
Chicago Burl. &Quincy... .733, 752, 75fi Louisville R y ................................ 466
Flint A Pere Marquette............. .. 796 Twin City R. T. Co. (Minneapolis). 704
Pittsburg Cin. Chic. A St L...775,
Wlkesbarre A Wyoming Val. iTac, 607

Maroh....... 351.642 338,167 1,002,956 983.049
.March....... 55.029 5(»,527 156.859
146,655
March. ... 406,671 386,694 1,159.815 1.129,704
801
1,369,22 1,347,774 Sunday Creek Coal.................. 79tJ,
December.
797
Maroh....... 13.519 13.731
38.340
38,683
January... 5 6,009 65.871
65.871
56.6J9
Mexican Central Railway.
2,792
F eb ru a ry .
1.341
*.370
1.432
(Report for the year ending Dee. 31, 1896.)
M arch....... 132,277 128,283 371.963 372.667
5 ,-5 9
14,901
On subsequent pages are published the remarks o f President
Columbus 8t. Rv. (O.) 3d wk Apr. 11,008 11,762
Coney Is la n d s B’ lyn. M aroh....... 21,546 20,129
60,930 Robinson from the report for 1896, together with tables of
6I,94o
Danv. Gas El. Light A
the year’s business, the balance sheets, etc.
Street R y................. January...
8,727
9.597
9,597
8,727
Statistics.—The comparative statistics for several years,
Denver Con. Tram w March....... 53.728 56.345
157,132
162,767
Detroit Cltl'ns’ St. Ry. 2d w kA pr 19,600 13.839 280.696 257,389 compiled in the usual form for the C h r o n i c l e , are as follows :
Detroit Elec. R y ........ Maroh....... 34.363 34,248
99,145 101,296
EARNINGS AND E X PE N SE S (M EXICAN C U R R E N C Y ).
M arch....... 15,508 17,05
48.143
Daluth 8t. Ry.
42,^>67
18 94.
18 9 6 .
18 9 5.
18 9 3 .
Erie Elec. Motor C o.. March. .. . 10.07t 11.212
2 *,4 >0
32.618
1 ,8 6 0
1 ,8 4 7
1 ,8 7 0
1 ,8 6 0
Galveston City R y.. March....... 14,559 13,5239,645 A ver, miles oper’d . .
44,17
E
arnings
f
r
o
m
—
$
$
$
$
Berklmer Mohawk El
1 ,8 2 8 ,0 7 3
1 , 5 7 6 ,8 0 1
1 ,4 4 3 ,7 9 4
1 ,9 3 4 ,6 1 3
ion A F’ kfort El.Ry March.......
3,720
10,644
10.415 Passengers...............
3.667
7 ,1 4 5 ,0 4 1
6 , 4 4 0 ,7 1 3
6 ,1 3 0 ,3 4 7
7 ,6 4 6 ,2 5 8
Hooaiok Rv ....... .. March.......
1,573 F reigh t......................
515
563
1,481
5 2 2 ,7 5 2
4 0 8 ,5 1 0
4 0 7 ,6 2 2
6 2 7 ,1 4 9
Houston Elec. 8t. Ry. March....... 14,220 15,099
42,293
43,351 Expo's, tele. & m is..
Interstate Consol, of
9
,4
9
5
,8
6
6
Total
earnings..
8
,4
2
6
,0
2
5
1
0
,2
0
3
,0
2
0
7
,
9
8 1 ,7 6 3
North Attleboro .. M arch,___
26,943
25,431
9,523
9,238
Expenses—
11.19 7
3,853
11.225
Kingstoa City Ry. ... March.......
3,915
8
7
9
,
5
1
2
Malnt.
o
f
way,
etc...
9
8
1
,
7
7
1
8
4
7
,4
6
4
8
2 1 ,1 1 6
27.882
7,855
9,16b
24,510
9 5 5 ,8 9 9
9 2 9 ,4 6 2
9 5 9 ,3 2 7
London 8t Ky. (Can.). March.......
5,785
16,167 M aint.of equipment 1 , 2 0 6 , 1 9 6
6.826
19,586
3
,1
9
4
,
5
9
6
2
,8
8
0 ,4 3 6
Trausp’
n
aud
tratHc
3
,0
5
9
,8
8
1
3
,9
2
0
,1
2
2
Lowell Law. A H av.. Marqli....... 29,779 26,790
79.017
83.031
5 6 5 ,9 5 5
5 9 6 ,4 3 1
5 0 5 ,1 6 6
6 3 3 ,1 8 4
Metrop. (Kansas City» 3d wkApr. 3 4 ,0 5 6 34.452 48 2,033 4 8 0 ,3 2 7 General......................
10,982
3.8J2
Montgomery St. Ry M arch.......
11,526
3.957
Total....................
5 ,5 9 9 ,3 9 1
5 ,4 5 9 ,6 7 5
5 ,1 3 6 ,1 8 1
6 , 7 1 4 ,2 7 3
Montreal Street R y... March....... 93.44. 92,146 289,030 274,598
(6 4 -3 0 )
(6 4 *3 5)
76,933 P.c.of op. exp. to ea.
(5 8 -9 7 )
Nassau Elec. (B'klyn) Maroh____ 122,368 26,269 3i4.35L
(6 6 -0 7 )
14,119 Net earn. (Mex. cur.) 3 ,4 6 3 , 7 4 7
Newburgh E lectric... March.......
13,711
4,919
4,761
2 ,8 4 5 ,5 8 2
3 ,8 9 6 ,4 7 5
2 ,9 6 6 ,3 5 0
New England St.—
2 , 0 6 3 ,1 5 7
1 ,5 3 8 ,6 9 3
Net earn.(U.S. cur.)
1 ,8 4 1 ,5 1 6
1 , 7 6 4 ,3 2 3
Winchester A v e ___ M arch....... 14,895 14,388
42,681
4 2 ,0 7 6
INCOME ACCOUNT ( u n i t e d s t a t e s C U R R E N C Y ).
6,096
Plym’ th A Kingston March.......
2,142
2,06 ^
6,040
18 94.
48,777
18 9 5.
18 9 3.
17,037 16,4*>0
T ota l.....................
48, 11*
18 96.
Receipts—
7,712
*
New Liondon St. Ry. March.......
2,847
2 ,6 11
7,960
$
$
$
1 ,7 6 1 ,8 2 3 _
1 ,5 3 8 ,6 9 3
3 3 0 ,8 2 2 Net earnings............
2 , 0 6 3 ,1 5 7
New Orleans Traction March....... L17.017 103, O li
3 1 6 ,3 6 5
1 ,8 4 1 ,5 1 6
7 5 0 ,0 0 0
5 0 0 ,0 0 b #
4 6 ,9 2 1
Net subsidy reo’ ved.
3 0 0 ,0 0 0
2 7 5 ,0 0 0
N. Y. A Queens C*y... February . 22,59
1 8 6 ,4 7 2
1 4 2 ,4 6 0
North Shore Traction 2tl wk Apr. 2 2 .7 6 4 23,671 3 2 2 ,5 7 7
3 1 6 ,8 5 3
M iscellaneous..........
1 5 5 ,9 4 1
Ogdensburg St. Ky. M arch.......
2,490
1,042
2,951
782 ,4 3 1 ,1 5 3
2 ,2 6 4 ,8 2 3
60 1 2 2
2 ,5 2 4 ,6 2 9
Paterson Ry . . . ___ M arch....... 23.y5i. 23,64 1
Total net incom e 2 , 2 9 7 , 4 5 7
69,05
Plttsb. Ft.Sub. El.Ry. March.......
1 ,3 4 7
4.058
Disbursements—
2,643
7,773
2 ,2 2 6 ,9 6 2
2 ,3 0 6 ,8 8 8
Interest on bonds...
2 ,3 0 0 ,6 0 0
1 6 ,0 4 3
2 ,3 2 0 ,5 3 3
Po’ keepsle A Wapp. F. March.......
5,516
15,881
5.448
1 8 8 ,4 4 9
1 6 ,3 8 7
M iscellaneous..........
1 5 9 ,9 3 5
2 0 8 ,2 8 1
F ebruary. 62,287 6 8 .7 8 3
Schuylkill T raction.. March.......
22,184
6 695
6 .9 3 1
21,088
2
,2
4
3 ,3 4 9
2 ,4 9 5 ,3 3 7
2 ,8 5 2
T o t a l................... 2 ,4 8 0 ,4 6 8
2 , 5 1 4 ,8 8 1
Schuylkill Val. Trac..
2 ,5 &0
Scranton A Carbond’e March.......
»31
d e f.6 4 ,1 8 4
s u r .2 1 ,4 7 4
s u r .9 ,7 4 8
B alance..................... d e f . 1 8 3 , 0 1 1

T H E

840

amm m rnt avcncrai ai.
im &
_
7i ,;«0

Oats
*u
Pit
Tn*
x
T*<
»J1J

1893.
1895,
1894
_$
f
v
13S.MI3.003 13? , 940.018 135. 839.190

MU.007

0 , 1 2 2 .0*0

3.377,130
110.384

2.735.738
037.319

1,974,19*

-187.311
3.570,583
no. m3

099,783

0,193.0*0

0.121,048
4,027,522

5.709.5(13
882,918

■104.103
4,000.000
1,700,046
1,117,451

1,131.313

Issenime

Ti'ta

.154.391.100 15 .012.403 152.033,6*7 183,800.081
*7.000.tOO 4‘ .009,100 *7,8*4,100 47,841,100
94.0*6,312 93,243,612 92,302.602 92.705,183
. Scvr.
1.211,020
1,000,000

H ot.

1,197.940

1,000,000

1.I l l , 007

1,000,000

1,169,014
1,000,000

614.936
880*539
724,438
624,775
V » 0», j,a y -r '* i *«'«'*
10.255,973
Mei , Gov. *115*147-. 0,478.998 9,603.472 9,798.0:17
104,155
131,127
9,821
21,234
»at Ipewai fou.t ...
76.220
12.035
21.783
Inc >o ip adoomiv . ...
15
*.391.100
153.612.403
152,833.017
153,800,081
T. ital UabHUt«t
—V. 04, J«. i" 3 .
Union Paclllc Railway.
(R ep o rt f o r the year en d in g D ee. SI, 1890.)
E n tire System . — t h e annual report contains no comments
on the year's operations, but embraces full statistics of earn­
ings, etc . for the entire system and for the several lines
-which the system included in 1896. F->r the entire system,
5,121 miles, the statement furnished is aa follows:

about 50 miles of new ateel and 57 mile* of second-b md steel.
Of cross-ties there were laid on U»*» Union Pacific Riilway
618.226; on the rest of the “ system” 654,658.
Hand S ales .—The sales from the Union Pacific land grant
in 1896 were 45,637 acres; cancellations, 50,048 acres; net can­
cellations, 4 883 acres o r $9f)o. Other income (principal for­
feited on canceled sales, $14 961; interest on la id contracts,
$08,821, etc ) brought the total receipts up to $93 533. from
which were paid salaries, commissions, &e.. $118,038, leaving
a balance deficit of $30,111. The total cash, reoeip s, includ­
ing payments on land sales of previous years, &<s„ w-re
$183 166. Lind contracts outstanding Dec. 31. 1896, against
landB sold, S3 836,786,of which $'.164,485 uncoil-cable.
From the Kansas Pacific and Denver Pacific grants the net
aslea were 15,385 acres, for $40,874, and after payment of ex­
penses, taxes, &c., there was a d-ftcic from the year’s opera(ions of $62,888. The total cash receipts were $119,180. The
land contracts outstanding against lands sold from these
grants were, on Dec. 31. 1896- To credit of Kinsas Pacific
consolidated mortgage. §1,714 273 (-if which St 174.273 uncol­
lectible); Denver Extension mirtgag*. $'.311,087 (if which
$1,086,087 uncollectible): Denver Pacific mortgage, $506,099
(of which $251.680 uncollectible).
St a tist !cs .—The operations and financial results have been:

Grout
net
Other
Fisctd
Balance,
Tear.
Earning*.
Rarnim/s.
Inco-nc.
Chargee.
Deficit.
1X96 ..*23.179.278 87.370,399 $1,347,946 $10,611,941 $1,893,608
1S95... 22.*77.32.1 7.207.8*4
1,739.111
10,431,843
1,534,888

Of the 5. 21 miles of road a iove included the following;
4,115 mil* s have separate reorganization c- unmittees: Union
Pacific Railway, 1,828 miles; Oregon Short Line & Utah
Northern, 1.-128 mil s: St. Joseph & Grand Island. 351 mites;
Central Brai eh Union Pacific, 838 miles, and Union Pacific
Lincoln & Colorado, 225 miles since the end of the year the
Oregon Snort Line & U<a»i Northern Rv. has passed into posserrion of the Oregon Short Line R a ilroa d and is now operated
independently of the Onion Pacific. The Kansis City &
Omaha, reported last year, is not included in 1866. How far
the dismemberment of the system through foreclosure will go
and how far it will :>e permanent, if carried out, it is impossi­
ble to say, but for the time being the facts regarding the
“ system" as a whole are of only moderate interest,
Tte temaind<r of the system 0.006 miles) not, embraced in
the hues above enuto- rated includes the Omaha & Republican
Valley Rv,, 482 miles, the Kansas Central, 165 miles, Junction
City N Fort Kearney, 88 milts, etc., which are merely
fcr.r eh lin* s of Comparatively small earning capacity, whose
securities are all or nearly all owned by the Union Pacific
and pledged to secure its collateral trust loans.
E a rn in g ,* i y D ivision s.—'The earnings of the Union Pacific
E a d irn y are given in full further below. Siparate statements
an- also furnished for the Oregon Short Line & Utah North­
ern and St Joseph & Grand Island. For all the lines in the
“ system" the earnings are reported as follows :
Miles.

.-----Gross earnings____ ____ !Vet over taxes.—
1$96.
1 8 9 5 .' . 1896.
1895,

§

$

$

U nion Pacific By . 1323 14,382.290 14,336,291 4,740,171
Bright. i Boni. Hr.
27
20,319
37,219 (if. 1,729
Carixin <'u:Oil . . . .
19
44,047
43,893
13,679
Ki lio A Parti City ,.
30
86.209
79,057
32,660
t K.
88
118,285
90,749
25,049
Kanuo Central ... 165 146.117
129,964 df.54,549
K* ar. k M ack Hill*
66
32,482
27,762 df.8,071
*82
700,326
628.095
66,428
Ore. 8b. I- A- V. N ..1 128
5,578,874 5,394.198 2,261.224
8t, J “ . * Grand Id..
251
724,170
614.078
88,020
Galina A- 8. W.......... 35
43.375
36,242
4,939
8-olomnn UB............ 57
100,893
74,309
31,209
-1,2 i
•50,617
tlf. 58
Centrai Hr. f . I*....
388
781,009
821.473
100,053
i! o t •
280.607
204,274
70,903
T otal....... .......... 5121

Gram Klv. Wat. Co ......
K.vtti». Creel! W. Co.*...
Union Tne. Co#! Co......

S£

4,902,157
9,927
13,289
24,285
df. 13,669
df.14,542
df.7,221
18,889
2,235,270
13,593
d.t.4.105
12,814
a c .l l ,842
61.24,007
53,665

23,179.278 22.477,827 7,370.389 7,207.844
31,917
39,369
25,886
27,543
13,747
13,601
10,573
10.403
.........
319,282
379,796

Voilatrrat Trust R o n d s.—O ther In com e .—“ Other income”
in IbWl. ns shown in the stitement for the Union Pacific Ry,
below, an also in l he statement for the "system” above, ineludes chiefly the following item*, which wore paid by the
•, -if the several deeds to meet interest in full or in part
on the hoods named: Interest on sinking funds per cent bonds,
?! (9.200. against $ ’ 98 ,} -n in 1895; interest on collateral trust
12i.'1.520, ngainm $4-2?.300j interest on collateral trust 5 s,
$3W,W0, n*»ii »t $H3o.T}5; it terest on 6 per cent collateral
truss gold nous, 8 s, #514,290.
Th«> Income r><- iv> d from the trust investments and with­
held by tin- trus-ee* of the deeds securing the bonds and apf iod in part to the payments above indicated was as follows.
F o r C o lla te r a l

Interest o n -

Trust as.

fV.'o;fc.p. CnotraS bm:l
........... ,..$ 1 2 1 .7.(0
Cub * SonUein bond.............
1 *0,549
_
Tax s i
.........................................................8 2 0 2 ,2 7 9
T n h v i I & 1 4 9 5 .......................................... .............. $ 3 9 8 ,0 9 0

For 'tillatera t

tru s t

SuIsM fjitotn p
age,
i-**M a i n t e n ni r r r . - O

g o ld

n o te s ,

(Y ou JLX.IV

C H R O N IC L E ,

For Collateral
Irust 5s.
$81,830
133,073
003
$ 3 5 5 ,3 3 0

*214

03, see full statement on

n the Union Pacific Railway (1,833 milpg)
i*«»)
6b miles of newateel
new steel rails and 95
sh
i*8 about 80

t!,« re were inW
law in
m
mil- * of ** c-.iifj-hand steel; on the remainder of the “ system”

O P E R A T IO N S .

1896.
1895.
1894.
A verage m ileage___
1.822
1,822
1,822
Revenue tons 1 m .. 1051497274 1031446184 1042*93192
Earns, per ton p. m. 0-951 eta.
04)55 ets. 0-934 ots.
Passengers 1 intle .114.583,915 119,M17,56 9130 .68 6,27 7
Earns, pr. pass. p.m . 2-146 ots. 2-058 ets.
1-865 ets.

1893.
1,822
1199214386
0-982 ots.
177.252,384
1-952 ets.

EA R N IN G S A N D E X P E N S E S .

1890.

1895.

2,399,058
59,582
9,534,4!) 1
67,530
400.396
1,921,230

2,409,248
56,465
9,448,051
121 209
280,944
2,020,374

1894.
$
2,358,441
78.172
9,710,983
96,594
440,103
2,127,513

14,382,390

14,330,291

14,817,806

Renewal of rails.,
General........ .—
T axes.....................

4,781,947
2,033,432
1,567,835
152,189
539,447
566,069

4,877,819
3,062,337
1,333 530
291833
533,802
596,812

5.217.574
2.512,422
1,583.057
374,523
498.054
317,099

P er oen tot oper. exp. to earnings

9,641,819
4,740,471
07-04

9,434,133 10,502,728
4,902,158 . 4,315,078
65-81
70-88

E arnings—
’ assenger, oom m e ro ta l..,............
"
G overnm ent..............
Freight, com m ercial....................
“
G overnm ent..................
“
com pany................. .........
Mail, express, car service, e t c ...

Expenses—

T ra n sp orta tion ................... .........
M aintenance o f equipm ent...........

ACCOUNT.

Receipts—
N et earnings....................................
Incom e from investm ents..........
Iut. on sinking fund m ortg. 8 s...
“
coll, trust 6 s ........................
“
“
5 s.........................
" 6s, n otes..................................
M iscellaneous..................................
Disbursem ents—
Sinking fu nds................. .
Losses on investm ents.
M iscellaneous.................
Profit and loss................

1896.

1895.

1894.

4,740,471
218,304
149,200
215,520
233,850
514,290
640

4,902,157
212,726
298,400
327,300
350,775
554,315
174,135

4,315,077
487,042
149,200
110,160

6,072,775

6,819,807

5,055,048

4,548,470
1,214,286
697,970
369,207
142,980
161,389

4,607.109
1,277,116
693,730
986 886
66.693
12,062

4,767,614
1,249,061
677,685
4,238
3,172
216,011

T ota l.......................................... 7,164,362
Balance............................................d f .l ,091,687

13,569

7,643,596
6,917,781
df.8'23,788 d f . l , 862,733

N ote .—It should b e understood that the Item. “ Interest on bonds”
given above includes a large amount o f Interest w hich maturod but
was n ot paid.
C O M P A R A T IV E B A L A N C E SH E E TS D E C E M B E R 31.
1896.
1895.
1894.
Assets—
$
$
$
Cost of road and fixtures............ 142,317,351142,317,231 142,315,761
Equipment,....................................... 13,133,390
13,143,843 13,143,843
Bonds and stock s........................... 46,833,270
47,116,565 49,225,293
M iscellaneous Investm ents..........
280,741
280,741
281,451
Advances to au xilT y c o ’s pay­
able in bonds ami stocks..........
2,293,595
2,293,595
2,293,595
Bonds and stocks o f auxll’ry cos.
held as collateral (see liabit’s),.
2,868,360
2,873,646
8,249.345
Current, a ccou n ts...........................
5,506,257
6,181,539
7,526,303
Receivers Union Pacific System. ) „
< 1,992,549
1,954,141
R oc’s, U. P. Rv. Oo, prop’ ty aeet. >
8‘
l 1,793,178
1,786,978
Sink)ng fund balances..................
3,934,987
3.859,114
3,8 14,736
Laud contracts, land cash, e t c ...
6,171,303
6,403,-172
0,735,780
Total assets.................................. 227,186,466 228,255,473 234,357,228
Liabilities—
Capital stock..................................... 60,808,500 60,868.500 60,80a,500
Funded debt,.................................... 74.914,635 75,550,635 78,740,635
U, S. O per cent, currency bonds. 33,539,512 33,539,012 33,539,512
In t. on U. S. bonds, balance o f
sinking fund d edu cted.............. 19,128,273 19,625,022 19,220,207
Interest Accrued not y e t d lie ....
547,162
570,092
710,399
lids & atocks owned b.v mix II. cos.
lteldby thiseo. is col. (see assets)
2,878,635
2,888,646
5,264,345
Incom e A ccou n ts—
7,847,104
General Income...............................
6.699,516
8,676,338
9,300,165
Incom e used for sinking fu n d s.. 10,809,774 10,013,214
Laud and trust incom e................. 24,049,081 24,175,680 24,455,728
T otal............................................ 41,558,371
Leasdef. o fU . 8. requiretn’ ts
and aecmu’ us o f the sin It. fd. as
com pared with accrued int. on
U. S. bds. Feb. 1,1 880 . to date
6,248,621

42,035,098 42,432,533

6,837,932

6,418,903

35,309,749 35,198,066 36,013,629
Total liabilities........................ 227,186,466 223,255,473 234,357,228

-V. 64, p. 799.

THE CHRON K'LE

Ma t 1, 1887.1

Oregon bhort Line Railroad.
( Report for the year ending Dec. 31, 1896.)
The Unicn Pacific report furnishes the following statement
for the Oregon Short Line & Utah Northern Railway, now
known as the Or- gon Short Line RR. C o.:
EA RN IN G S, E X PE N SE S AN D CH ABG E8.

1895.
1896.
E arn ings—
$
$
Passenger............................1,077,386 1,001,728
F reight. ............................. 4,023.744 3,961,905
276,658
M a il!.................................... 287,935
153,907
E x., telegraph and m iseel. 189,808

1894.
$
902,830
3,671,008
268,307
167,322

1893.
$
1,236,866
4,124,419
279,787
220,562

Total earnings............ 5,578,873 5,394,198
Ex> enses—
Conduct’g transportation 1,575.865 1,583,999
495,437
M aintenance o f equipm’t. 507,611
756,462
M aintenance o f w ay ......... 906,150
137,660
General expen ses.............. 169,747
185,370
T ax es.................................... 158,277

5,009,467

5,861,634

3,158,928 3,858,020
2,235,270 1,151,447
77-01
58*56

Total expen ses.......... 3,317,650
Net earnings................ 2,261,223
P. ct. o f oper. ex . to earns. 59*47
Ada—
Incom e from investm ents
42,315
R en t'l M ontana Union Ry.
51,332
M iscellaneous in com e—
568
Total incom e available
fo r interest c h a rg e s..2,355,438
—Y. 64, p. 661.

1,671,403
598,706
1,237,142 13,783,240
129,240
221,529

19,226
50,807
179

30,753
51,428
5

2,305,482

1,233,633

3,783,240
2,078,394
64*54
14,246
51,439
2,500
2,146,579

841

GENERAL

R a il r o a d s a n d M is c e l . c o ’s.

Volume 64—

1896.
$519,570
125,968
78,630

1895.
$392,558
143,373
78,147

1894.
$545,610
156,288
80.759

1893.
$735,511
181,513
88,674

T otal earnings....
Expenses—
Main, o f w a y ............
“
equipment
Conduct’ g transpor
General expen ses..
T ax es........................

$724,170

$614,078

$782,657

$1,005,698

$128,013
79,966
328,089
35,743
64,339

$92,787
68,191
309,898
32,481
97,127

Total expen ses...
N etra rn available
for int. charges...
—V. 64, p .5 7 0 .

$636,150
$88,020

$129,2361
71,919 (
358,756 f
32,133 J
45,314

$667,786

$600,484

$637,358

$732,062

$13,594

$145,299

$273,636

64,276

General Electric Company.
( Report for the year ending Jan. SI, 1897.)
The annual report of President Coffin is given at length on
subsequent pages of the C h e o n i c l e , with full income state­
ment and balance sheet.
The earnings for three years were as below. Otherwise
there are no comptrUons to be made with previous years:
1896-97.
Gross earnin gs..................$19,820,396
Gross e x p e n se s................ 11,207,389

1895-96.
$13,315,667
11,910,240

1894-95.
$12,961,713
11,451,864

Net earnings................. $1,613,007
Other incom e......................
370,480

$1,405,427
421,040

$1,509,349
302,398

T ota l............................... $1,983,487
Deduct—
Interest on deben tu res. . .
431,250

$1,826,467

$1,811,747

S t r e e t R a i l w a y s — (C o n .)

Page

A m e ric a n G r o c e r y — receiv. asked.
CaDe F e a r & Y a d k . V a l ........... forecl.
C olum . H . V . & T o l . .consoLdeposits.
.1 a c k so n v . T a m p a & K . W .. .forties.
L e x in g to n T e r m in a l...................sale.

798
798
754
754
799

L o u is v . N . A . A C h .

755

.finalinstalm’t.

M em p h is & C h a r le s to n . forecl. stay 799
S : v :& H a r f e m [ ' . R: Sre-f“ n (iO reg on im p r o v e m e n t...............reorg.
O w en sbo ro F all's o f R . & G . R . .sold.
Q u in cy O m a h a & K .C ................sold.
S u m m it B r a n c h ..............
sale.
U n ion P aciflcxo/. tr. 6s nf 1891 depos,
Do K a n s a s C e n t r a l......... forecl.
U ta h C e n tr a l............................... forecl.
s t r e e t R a il w a y s .
A u s tin (T e x a s ) R. T .................reevr.
B e lle C ity 8 t. (R acine^ W ls.) reorg.
B rig a n tin e T r a n s it ...................... sold.

800
755
800
755
758
799
800
422
610
373

Volume 64—

Page.

B ro o k ly n E l......... reevr.; reorg. plan. 609
Do
coups.663; deposit penalty. 708
B u rlin g to n ( l a ) E le c tr ic ....... sold. 753
B u tte C onsoll S t. R y .
.. forecl. 603
C a lu m e t E le c . S t r e e t . . . int. May 1. 798
C ap ita l R y. (F r a n k fo r t K y .).. .sale. 422
C itiz e n s ’ T ra c.(S a n D ieg o.C a l.)recw .4 2 2
C ol. & M ary la n d R y . (B a lto .) .reoru. 610
D a lla s C ity S t r e e t ...................... reevr. 567
E n g le w o o d & C h ic. E l . . .reevs. ctfs. 428
F o u rth S t. & A rse n a l \ S t .L . ..reevr. 5 11
P e o p le ’s R a ilw a y .. S do reorg. 613
G e tty s b u rg E le c tr ic R y ......... forecl. 707
H ig h la n d A v e . & B e lt (B irm in g
ham , A l a .) ........... ................... reevr. 707
M c K e e s p o rt D ..& W ....... def..r^cvr. 707
H a n n ib a l (M o .)S t. Ry .reported, sold. 610
In d ia n a p . & B ro a d Rip.Tvcvr.aaked. 664
M et. W e s t S id e E l. (C h ic .)... .reorg 6 11
S o u th J e rs e y T r a c t io n ............... sold. 567

Tacoma Ry. & Motor...............sold. 665

Albany (Street) Rail way.—Quarterly.—Earnings for the
quart* rand the nine months ending March 31 have been :
3 mos. end.

EABNTNGS AN D EXPENSES.

NEW S.

Reorganizations, Etc. -Latest Data as to Defaults, Reor­
ganization Plans, Payment of Overdue Coupons, Etc.—All
facts of this nature appearing since the publication of the last
issues of the I nvestors’ and Street R ailw ay Supplements
may be readily found ny means of tne following index. This
index does not include matter in to-dav’s Chronicle.

GT088

Mar. 31.
earnings.
St. Joseph & Grand Island RR.
1897 ................. $125,357
1 8 9 6 ................. 119.821
fReport for the year ending Dec. SI, 1896.)
9 months —
1896 7 .............. 412,364
The report of the Union Pacific receivers contains the fig­ 1895-6..............
394,949
ures below given for the St, Joseph & Grand Island :
—V. 64, p. 133.
E a rn in g t—
F reight.....................
Passenger.. ...........
M iscellaneous.........

IN V E S T M E N T

Net
earnings.
$31,461
33,998
141,330
146,246

Other
Interest,
income.. tares, etc.
$960
$18,704
869
18,640
1,984
1,733

56,097
62,534

Balance,
surplus.
$13,717
16,227
87,217
85,445

American Strawboard— Leases Canceled—The company, it
is un derstoed, has canceled the leases n ade by it at the time
of its organization for the purpose of getting rid of the com ­
petition of twenty or more mills that declined to join in the
consolidation. The mills have not been operated, and the
rentals beiDg considered burdensome, the company has
availed itself of the option to terminate the leases. To fore­
stall possible competition the company has also reduced the
price of its prcduct from $32 to $25 a ton.—V. 64, p. 327,
American Sugar Refining.—Death of Vice-President.—
Theodore A. Havemeyer, the Vice President of the company,
died on Monday. Washington B. Thomas, a director, is like­
ly, it is said, to succeed him as Vice-President.
Purchase of Interest in Beet Sugar Refineries.—The San
Francisco papers report that a deal was effected between
Claus Spreckles and John E. Searles, Secretary of the Ameri­
can Sugar R.fining Company, during the latter’s recent visit
to San Francisco, by which the trust will participate in
Spreckles’s beet sugar interests on the Pacific Coast ard also
assist in promoting other sugar enterprises. Claus Sprecklee
is quoted as saying in p a rt:
By this transaction th e trust d id not, as you w ill peroelve, secure a
controlling luterest in the factory. That is still in my hands, so that
we will a'w ays be in a position to oom pete in the open market. It Is
understood that the tru st will co-operate with me in the work o f de­
velopin g the beet su gar industry in this State b y the erection o f a
number o f factories as fast as th ey are required. Their establishm ent
will depend, o f course, on the rapidity of the growth of sugar beet
plantations. It is also their intention to develop tills industry
throughout the Unite d States.

The Watsonville refinery, an interest in which has thus
been secured, is said to have been extraordinarily successful,
paying 80 per cent last year and previously over 100 per cent
From the profit of $1,552,237 in 1896-7 is to be deducted per annum on the stock.—V. 64, p. 661.
$592,579 amount written off (viz,: patents, $349,919; inven­
Atlas Tack.—Sold at Auction.—The assets of this corpora­
tions and consignments, $61,084; sundry losses and allowances
for possible losses, $318,531—$729,534, less $136,956 profit on tion were sold at auction, April 27, to Aaron Hobart, Chair­
man of the Reorganization Committee and President of the
securities sold and debentures canceled), leaving $959,658.
Tremont National Bank, for $250,000.
Reorganization Plan.—The plan of reorganization, which
Electric Storage Battery.
was issued under date of Nov. 30 provides:
( R eport for the year ending December SI, 1896.)
The stockholders shall contribute $100,0( 0 o f new capital, taking
therefor third m ortgage bonds for that amount and stock of the new
President G ib b s in his report sa y s ;l
corporation to the amount of their present holdings o f stock In the
S urplus.......................... $1,552,237

437,500

464,583

$1,388,967

$1,347,164

Y ou w ill notice that while gross sales for 1896 have Increased 96-90
per cent, the m anufacturing charges have only Increased 40 06 per
cent. The percentage o f inaiiufaoturing cost to total output for I s 96
was 56-03 per cent. Same charges in 1895 am ounted to 75*54 percent.
Up to the 31st o f December, 1896, there has been expended in v a­
rious demonstrations and applications o f the use o f storage battery
the sum o f $11.109: this will lie charged otr to profit and loss. This is
not a current expense, and It will not be necessary for the com pany t o
make anv further expenditure in this direction. The various p rom i­
nent applications o f the battery m ade durlug the past year have dem ­
onstrated Us comm ercial value in every respect.
The general expenses o f the com pany, aggregating $142,017, w ill
n ot be m aterially increased If the com pany’s business was more than
double, in which event it will he clear that the proportionate profit
w ill be largely Increased.
The earnirjga lo r 1896, c o x p i b d f o r th e C h r o n i c l e , in c o m ­
p a rison w ith the e a r n in g s fe r 1895, a re as fo llo w s :
Increase.
Year.
189G.
1895.
96*90 p. c.
Gross sales........................................ ..$►<46,319
$328,231
46 06 p. c.
Manufacturing cost.......................... . 302,142
247,938
OftUe ami legal expenses, comm in
$71,649
sions, taxes and Interest............. . 142,178
70,529
Net profit.......................................$141,999
R oyalty and in v e stm e n ts............
0.801

$9,764
2,218

Total net in com e....................... $148,800
Interest on b on d s............................ . 13,738

$11,982
abt. 9,000

Balance, surplus..........................$135,062
- V . 62, p. 1038.

$2,982

present corporation. The creditors to reoelve second m ortgage bonds
a-'d cash for the amount of their claims. The proportion of cash and
bonds to be determ ined by cash on hand at the time o f the reorganiza­
tion hut to he approxim ately 75 per oent In bonds and 25 per cent In
oash, or 80 per cent in tior ds and 20 per cent in 0 1.-h; the intention
being ro pay the creditors all the cash thar the condition of the corpor­
ation will warrant. The first m ortgage bonds outstanding, amounting
to $22o,000, not to be disturb ed.—V. 6 4 ,p. 663.

Baltimore & Ohio RR.—Couponpayments May 1.—Coupono
due May 1 on the Akron & Chicago Junction RR. bonds due
1930 will be purchased at their face value on and after
maturity, until further notice, by Vermilye & Co. Tne Balti­
more Belt first mortgage coupons due May 1, 1897, are being
paid by Brown Brothers & Co., New York, and Alexander
Brown & Sons, Baltimore, The Cleveland Terminal & Valley
firBt mortgage coupons are being paid by Brown Brothers &
Co., New York. Interest on the sterling loan of 1874 is being
paid in London through J. S. Morgan & Co. and on the
equipment ‘ *B” bonds at the Finance Co., Philadelphia.
extension of Electric Service.—The electric service of the
$133,235 Baltimore Belt Line, which has heretofore extended from the
4,583
power house, corner of Howard and Hamburg streets, to the
$136,818 Mount Royal Station, Baltimore, has been completed to
1,738 Waveriy, a distance of two miles. Hereafter freight trains
$132,080 will be drawn to that point by the powerful electric locomo­
tives. The object of the extension is to do away with the

TH E

842

CHRONICLE.

t'XHtke oui*j«o«»

in tbe Annex, nod al*o to enable raoid transit
ov,-r the geavr «r«d> « between North Avenue and York road
S n c Rails. -It i» expected that the first consignment of the
t. u* of !•..«' «tr*i rail, recent!* purehaaed by the Baluasotv A Ohio HU. Co. will be delivered the latter part of April,
5i,.,d will be placed in the track a* rapidly as possible.
MV.tmff n B ranch RR. D ivid en d .—The directors have is*uc| |h- (ailoiviiir statement of earnings for the air months
endtitR March 31, 1>97, in explanation of the passing of the
dividend *i nounc*.! last week :
$ m&Mfci
&m m h

0

mm

SI— m r m n m ,
..... .. **o IM l

tiw*»................... sty2.587

Opr rating
rxpeuset
#326,261

246.315

jla'.inr,ilef .#24,010
n «tl6 ,2 7 2

Tates,

etc.
$3,780
.........

Total
Deficit.
#18,420

Referring to the result here shown, they say ;
•risrre v m therefore no sum applicable to a dividend, it having all
............ ui.ilnnmaiieu
1 ST a.;,jnp .ui!,. m in t to # s 0,420, and for maintenance o f equipment
’ nutsportation decreased #11,335.
r,
<;,<• m.-ri-n-. m expense for maintenance o f way
from the fact that the receivers have placed upon the Washingten hr*n*‘ b 40 njlie* o f new S5 pound steel rati, with new frogs and
•vmete*. and on the balance o f the road have changed old rail lu many
., i r<■r second-hand rail. There are still about three and
tmirhsM
o f new rail to lay upon this branch. Much o f the old
-»•: on the u a.btngton branch had been in tile track for seventeen
year*, hence the necessity for the extensive renewals,
rite amount o f the usual semi annual dividend is $82,500. More
than that amount « a « i t pended la the increased float o f maintenance
o f wav by reason o f the fact o f the layin g o f new rail, frogs and
switches, new ties and ballast."

[V ol . LX1V.

Jenkins and Gordon of Baltimore retired from the board,
and thetr places were taken by James Sloan, Jr., of Baltimore,
and AViiliam Kinney of Belmont, Ohio. The directors, e t c ., are:
D irectors: .Tames H. Colli us, William Kinney, J o h n B . Ef 11. Jam es

Sloan, Jr., W illiam A. Fisher, O. it. Klhler, Johu W. Garrett. W. W.
P eabody. David Dee, A. B. Crone, John Hogo, Daniel 0. List, George
E. Bradfleld. The board elected the follow in g ollloera: James H.
Collins, President: P. 0. Sneoil. Seoretary; W. H . ljam s,T reasu rer,
and G. W. Booth, Auditor.

The annual report was ordered printed and on a motion
offered by the minority interests it was voted that a com­
mittee be appointed to examine and verify the correctness of
the accounts. The Chairman appointed Messrs, Harry Fahne­
stock, Black and Fisher, of Baltimore; Mr. J C. List, of
Wheeling, and J. M, Lewis, of Birnesville, Ohio, as the
committee.—Y. 64, p. 568.
Chicago & West Michigan Ry.— C ou p on P a ym en t.—
Regarding the coupons due May 1 and June i respectively on
the Chicago & North Michigan and Chicago & West .Michigan
bonds, the directors announce that as the gross and net earn­
ings do not show any material improvement over the imme­
diately preceding years, they have voted :
That in v iew o f the continued
earnings do not, in onr judgm ent,
m ore than one-half o f the am ount o f
June 1st, respectively, and that the
bondholders to that eftect.

depression in business, the net
adm it o f the pay men l in cash o f
the coupons m aturing Mav 1st and
Treasurer be dlreoted to notify

The scrip to be issued for half of each coupon will have the
same protection under the mortgage that the coupons would
i ,—The receivers' report have had, and will be in all respects similar to the scrip here­
the autotint on hand April 1 of the several special funds, and tofore issued on account of previous coupons.—V. 63, p. 793.
the amount expended front each fund during the month of
Choctaw Oklahoma <fc Gulf RR —Missouri Kansas &
March, as follows:
— — Iteeeiren’ ccrU/iralet.------Texas Ry.—T rea ty with C h ickasaw an d C h octaw In d ia n s ,—
series I.
Series 11 Series 111.
Terminal, The treaty of the Dawes Commission with the Chiokasaw and
( B .a O .t (B .t t Q .)
(l\<tO .)
Fund,
Unexpended April 1______»«<9.SOO
$934
$561,000
$557,132 Choctaw Indiana was jointly executed April 33 and now
needs only confirmation by the Senate to make it effective.
E xpenditure*in M a r ch ....138,194 38,742
7,501
24,527
- V . 64, p, 708.
This treaty is important to both these road- as will appaar by
Baltimore Chesapeake & Atlantic Ry.— New P residen t — reference to their respective reports in Y . 64, p. 133, and
Mr. John S. Wilson, lute President-of the Phtladelpnia Read­ V. 03, p. 697.
ing A New England, has been elected President of the Balti­
Cincinnati Jackson & Mackinaw R y.— P u rch a sers A sk
more Chesapeake & Atlantic.—V, 64, p. 284,
fo r Tim e to C om plete Safe,—Judge Sage has granted the pur­
Boston Terminal Co.— New B on d s.— F in a n cia l Statem ent. chasers an extension of twenty days for the completion of the
—The Massachusetts Railroad Commission has given the com­ purchase of the property. Of the $1,000,000 bid at the fore­
pany authority to i-sue an additional $1,000,000 of bonds, closure sale $975,000, it is said, is still due, and must now be
making the total bonds authorized to date $9,000,000 The paid at the end of twenty days,—Y. 64, p, 706.
additional bonds have been sold to Messrs. Lee, H ig g in so D &
Citizens’ Street RB. of Indianapoli8.— J ud ge S h ow alter’s
Co , of Ikston, The total eost of the terminal when completed D ecision T ou ch in g F a res. — T h e fu l l t e x t o f th e d e c is io n a l l o w ­
i* *xfs'eted to reach, if not exceed, $10,000,000. A statement in g a t e m p o r a r y i n ju n c t io n to p r e v e n t th e e n f o r c e m e n t o f th e
filed with the Corn mission shows :
H u g g 3 -c e n t-fa r e lavv (p a ssed as a n a m e n d m e n t t o th e s tr e e t
C on d ition Of Special F a n <1* M arch

KKCEII'M.

r a ilw a y in c o r p o r a t io n a c t ) h a s bea n r e c e iv e d . J u d g e S h o w a lter d e c id e s a g a in s t th e a m e n d m e n t o n th e g r o u n d th a t it is
s p e c ia l le g is la tio n a im e d in c o n t r a v e n t io n o f la w a t t h e s in g le
E X P E N D IT C UES.
c i t y o f I n d ia n a p o lis . I n th e c o u r s e o f h is o p in io n h e s a y s:
Ileal v.tatc ............ -.................................................... 7,581,798
Seotion 22 o f A rtiole 4 o f the C onstitution o f Indiana p rovides that,
247.914 ex“cep
Other expen se*....................................
reference to certain stated m atters, ‘the General A ssem bly
C»»!i r.u hand.........................
670,288 shall nt otinpass
loca l or special law s.’ Section 23 o f the same article i s :
all eases enumerated in the preceding section, and In all other
Total................................................................................. .$ 8 ,5 0 0 ,0 0 0 ■In
cases where a general law can be made applicable, all laws shall be
Jo b u q a t io s b .'J
general and o f uniform operation throughout the State,’ - * "
“ The question here Is whether or not the am endm ent o f 1897 ia a
New Kii„-iaad RR. balance due o a a p p r a is a l.................. . $ 3 0 0 ,9 4 0
i ru u abed c o n t r a c t ...,. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . _. . .
3i 0,000 ■general law* within the sense o f Section 13 o f A rticle 11 o f the Con­
stitution
o f Indiana. This am endm ent provides ‘ that in cities in this
Poaodatiou and superstructure.......................................
1 ,5 0 0 ,0 0 0
State having a population o f 100,000 or m ore, according to the United
i.ar,'i to be (utrciiasL'd (estim ated}..............................................
6 1 8 ,5 0 0
States
Census
o f 1890, the cash fare shall not exceed 3 cents,’ etc.
Rower hom e and beating, ligiiting ami interlocking plant
5 7 0 ,0 0 0
OrtdU do,' from city on uoet. o f real estate to he purchased
I,fOO,0 0 0 There is hut one oity in Indiana which answers this description,
namely, the oity o f Indianapolis. No m atter how many cities there
TOUtl.........
$1,789,440 m ight be now or m ay be hereafter in Indiana containing populations
respectively o f 100,000 or m ore, the act. in question could n ev er apply
—A'. 64, p. 81.
to any other than the city o f Indianapolis.”
*
*
*
“ The Legislature can make no amendment w hich if p ut into statute
Brooklyn Elevated HR. — L a rge M a jority o f B on d s De- originally
w ould have Invalidated the whole. F ollow ing the p ro­
j.melted .— A large majority of the various issues of bonds nouncem ent o f the Suprem e Court, of Indiana, tn M ode at al. vs. Beas­
affected by the plan for reorganization has been deposited ley et al., m y opinion Is that the am endm ent of 1S97 is unconstitu­
tional and v oid —it is n ot an amendment, within the reservation of the
with the Central Trust Company,—V. 84, p. 798.
11th section o f the A ot o f 1861.”
“ My opinion is that where proceedings in effect destructive o f a
B u f fa lo R o c h e s t e r A P i t t s b u r g R y .— Q u a r t e r ly .— E arnin g
vested
property right are threatened by a defendant In official position
for the quarter and the nine months ending March 31 hav
under color o f a v oid statute, the prelim inary injunction ought to
been r e p o r te d aa fo l l o w s ;
Issue.’’—V. 64, j). 799,
3 manih* end.
Grom
Set
Other
Interest,
Balance,
Colnmbns (Ohio), Central (Electric) Ry.—F o reclosu re.—
Mnrth 3 1 —
earning*, earn inat, Income. taxes, etc. sur. or lie
I H t > 7 . *735, 695 $339,687
Press dispatches say that, owing to the failure to secure the
#3.361 $210,364 am\$26,6S
...... 697,091
185,790
7,601
217,512
co-operation of Cincinnati bondholders, it has been found im­
dM.8-t.ia
• # wwuAs—
possible to carry out the reorganization plan, and that
|*m - 7 . , 72,505,078 $823,913 $28,413 #619,011 ar.$202,71
foreclosure has therefore been decided upon. At Columbus,
2,315,575
005,581
26,732 040,521 «ur.45,7£
April 38, the Brownell Car Company brought suit against tbe
L oa n * an d bills p a y a b le M arch 81, 1807, $803,047, a g a ii
Railway Company to recover $20,500 due on eight notes
$919,773 o n J u n e no, fgg g ,. -AC 64, p , 706.

Capital nock.........................................
Bead*..... ..............

•

$500,000
8,000,000

signed by John J. Shipherd as President.— V . 64, p. 338.
f allftl Bonds.—The following bonds have been called for
Colnmbns Hooking Valley & Toledo R y — C ou p on P a y ­
payment. The numbers may i>e learned at the offices of Ute
m en t.— Coupons due May 1,1897, on the O h io* West Vir­
respective companies. (Last list in V. 64, p, 010.)
ginia first mortgage 7 per cent bonds are being paid upon
HfL , ! " tI' ° ,- - Tnrty bonds b a re been oaUed, Interest
presentation at the office of the State Trust Company, 100
, V,*’I
S atnoE .—Eleven bond# have boon called Broadway.—V. 64, p, 754.
Commercial Cable Company.— B on d s L isted .—The $13,000,000 first mortgage 4 per cent gold bonds of 3397 have been
listed on the New York Stock Exchange. These bonds are
’
wi n ?Jf
May Ut0 n *
®Dd ,1Jr
Trust a portion of the $15,000,000 authorized to acquire the PostalTelegraph
Cable Company.
*
b V r r * i w ^ C>B6 han'1,’''<, ana ***t«o n Prior Lion bonds
M exica n C on tra cts, —Contracts, it ia understood, have been
signed between the Postal Telegraph Cable Co. and the Mex B9ri6‘ " A " oomoIb and«
ican National and Mexican Central RR. companies, to last
» " * V' ,T„'.rV ,
, ^ '’ tsvTOABSK-Twenty-four Series**A” bonds for twenty-five years, giving the Postal Company a strong
Central Ohio r r ._Nm n- D irectors.— A t the annual meeting I foothold in Mexico and that country an overland outlet to
this week thirtv-thrnc thtMi-xnd shares were voted for the the United States, Heretofore the Western Union Company
p*v*ent management and seventeen thousand against. Messrs. has required all messages for the United States to go via cable
from Vera Cruz to Galveston.—V. 64, n. 565.
fwipfa S S i tm r#?a

tr

C

' q ,—One btmdred and seventy-four

Ma y 1. 1897.]

THE CHRONICLE.

Dry Dock East Broadway & Battery RR,—Dividend
Passed —The business of the last three months not having
been as satisfactory as usual, it has not been deemed prude nt
to declare the usual quarterly dividend. Gustav E. Kissel of
Kessler & Co. has been elected President in place of Judge
Kelly, deceased.—V. 63, p. 401.
East Birmingham Land & RR.—Master's Sale May 31.—
This property will be sold to the highest bidder in Birming­
ham on May 31, the up3et price being §50,000. This is a
suburban street railway seven miles long, with three miles of
branches. It is capitalized at $1,033,800, and the original
bond issue was $50,000.
Georgia & Alabama Ry.—Bonds Listed.—The $2,330,000
first mortgage preference gold os of 1945 have been listed on
the New York Stock Exchange.—V. 64, p. 83.
Kelley Match Manufacturing Co.—New Match Company —
A bill, it is stated, has been presented to the Delaware Legis­
lature to incorporate this company, of which W . B. Clark is
to be President and J. Ed ward Addicks. George Gould and
others directors. Alexander Kelley, the inventor of the
machine to be used by the new company was, according to
newspaper reoorts, at one time employed by the Diamond
Match Co. Extraordinary things are claimed for the new
machine. A building for (he use of the Kelley Company is
said to be in preparation in Wilmington.
Metropolitan Traction, New York City.—Withdrawal of
Objection to Change of Motive Power.—Chairman Parker of
the railroad committee of the Board of Aldermen this week
sent letters to th° Board of Electrical Control and the Park
Department, saying that he withdrew all objection to the
change of motive power on the Sixth and Eighth Avenue
surface railroads because the Corporation Counsel had decided
that such change of power would not affect the city’s rip/it to
buy these roads, and because the city had at present no funds
to make the purchase.—V. 64, p. 517.
Mexican Central.—Equipment Bonds Sold.—The Boston
“ Herald ” says this company has negotiated the sale of $500,000 twenty-year 5 p. c. equipment bonds in London at about par.
These bonds are secured by the mortgage of the equipment
and of the deposit in trust of $750,000 Mexican general 4s.
The company is to pay 5 per cent of the principal of the loan
annually and a proportional amount of fours will be released.
The company’s report will be found on other pages of to-day’s
C hronicle —V. 64, p. 465.
Missouri Pacific Ry.—St. Louis Iron Mountain <fc Southern
RR.—Bonds Due May T to be Purchased.—Expiration of
Holders' Right to have them Extended.—Referring to the pre­
vious notice regarding the St. Louis & Iron Mountain bonds
due May 1, Vermilye & Co. and Kuhu. Loeb & Co now an­
nounce that the option granted t ) bondholders to extend their
bonds having expired, they are now prepared to purchase the
bonds at par and accrued interest. The coupons due May 1
on the same bonds will be paid, as usual, by the Mercantile
Trust Company, No. 130 Broadway.—V. 64, p. 800.
New York Central & Hudson River RR.—Meeting to Au­
thorize New Mortaage.—Tbe stockholders meet at Albany,
May 36, to authorize the new mortgage for refunding and
other purposes. The mortgage will be for $100,000,000, pay­
able July 1, 1997, bearing interest at the rate of 34£ per cent
per annum, payable semi-annually, both orincipal and inter­
est to be payable in gold coin of the United States of the
present standard of weight and fineness.—V. 64, p. 755.
New York New Haven & Hartford RR.—Work on Electric
Line.—Work on the third-rail electric line of the New Haven
road between Hartford and New Britain, Conn., is nearing
completion and the track is now ready for the cars. The in­
stallation of the machinery at the Berlin power house is not
yet finished, but is expected to be in running order soon after
May 1. It is stated that the cars will be put in operation im­
mediately and run on a half-hour schedule during rush hours.
The fare now charged by the steam line will be cut nearly 50
per cent.—“ Boston Advertiser.”—V. 64, p. 664.
Northeastern RR. of Georgia.—Temporary Receiver Ap
pointed.—At Athens, Ga., April 29, M. H Dooly was ap­
pointed temporary receiver o f this road, which has been
operated under lease from the State by E. A. Richards & Co.
Hearing for a permanent receiver was set by Judge Hutchins
for May 15 at Lawrenceville. The receivership was asked
for by T. J. Ripley, receiver of the State Savings Bank of A t­
lanta, on the ground that Richards who borrowed’$5,500 from
the bank, is removing the funds of the road to New York.
Possible Sale of Road.—Rental Unpaid.—It has been ex­
pected at Atlanta, Ga , that the road would soon be placed on
the market to be sold to the highest bidder. The Governor
was authorized last fall by a special act of the Legislature to
make the sale within six months from that time, the limit ex­
piring June 34, and the minimum price to be $287,000, which
is at the rate of about $7,000 per mile.
The rental for the quarter ending March 31, it is stated,
remains unpaid, but the lessees have sixty days of grace be­
fore the lease can be forfeited.—Vol. 63, p. 1010.
Northern Pacific Ry.—Resignation of President Winter.—
President Edwin W. Winter on Thursday laid his resignation
before the directors of the company, the resignation to take
effect upon the appointment of his successor. Mr. Winter
authorized the statement that his resignation was tendered in
view of the recent acquisition of a considerable minority in­
terest in the property by parties of whose co-operation he is

843

not assured, and that without suoh assurance he is unwilling
to continue his administration.
Mr. Winter, it is understood, refers in this explanation to
the sale in February last to a Europ iau syndicate, of which
the Deutsche Bank of Berlin was the head, of 13,000 shares of
the preferred and 172,250 shares of the common stock of the
new Northern Pacific Company, and in which transaction
President J. J.H ill of the Great Northern is understood to
have an interest.
J. Pierpont Morgan & Co. issued this statement in regard to
the resignation : “ At an interview this week we assured Mr.
Winter that if he remained with the property he should con­
tinue to have our entire confidence and fullest support, but
for the reason given bv him and for none other he has ten­
dered his resignation.” The stock of the companv is held by
five voting trustees, viz.: J. Pierpont Morgan, Georg Siem­
ens, August Belmont, Johnstm Livingston, and Charles
Lanier. Messrs. Morgan and Lanier are in Europe, and the
selection of Mr. Winter’s successor, it is stated, will have to
be deferred until thair views shall be ascertained.
It has been reported for a month past that ex-Secretary of
War Daniel S. Lamont would be elected to succeed President
Winter. There is reason to believe that his election would be
acceptable to some of the large holders of Northern Pacific
securities, and that they have urged it.—V. 64, p. 424.
Oregon Improvement.—Reorganization Notice.—The com ­
mittee heretofore known as the Rolston Committee (Mr. RolstOD. recently deceased, having been chairman), now consists
of Henry Amy and Henry K. McHurg. This committee
announces that no agreement whatever has been reached with
the Waterbury Committee and that it is still receiving de­
posits of all classes of securities. See advertisement in an­
other column.—V . 64, p. 800.
Reading Company.— Earnings,—The monthly statement of
earnings issued this week and all future statements of this
kind will be found in our earnings department.
Voting Trust Agreement.—The text of the voting trust agree­
ment will be given in a subsequent issue of the Chronicle .
Payment of Coal & Iron Bonds.— fhe bonds of the Phila­
delphia & Reading Coal & Iron Co. maturing May 1,1897, and
secured upon lands known as the “ Big Schall ” tract, and
“ West Flowery Field” tract, are being paid either by J. P.
Morgan & Co., New York, or Drexel & Co., Philadelphia.—
V. 64, p. 755.
St. Louis « Vandal la & Terre Haute R. R —Coupon Pay­
ment May 1.—The money to pay the May interest on all the
second mortgage bonds, both guaranteed and unguaranteed,
is on deposit with the trust company.—V. 64, p. 430.
St. Louis United Elevator.—Ordered Sold.—The United
States Circuit Court at St. Louis has entered a decree of fore­
closure against this company.—V. 63, p. 604.
San'ord & St. Petersburg RR.—Savannah Florida &
Western Ry.—Guaranty on Bonds —The following is a copy
of the endorsement by which both principal and iuterest are
guaranteed on the Sanford & St. Petersburg RR. first mort­
gage bonds:
“ For value received and under the provisions o f the agreem ent m en­
tioned in the certificate follow in g this endorsem ent, the holder o f the
within bond agrees that from Jan. 1, 1897. and until m aturity thereof,
it shall bear Interest at the rate o f 4 per oent per anuum. payable
semi-annually on the tlrst days of July and January in each year,
Instead o f at the rate o f 5 per cent. A ll ooupons thereof prior to July
1,1 897 , have been satisfied and canceled.
“ In consideration whereof, and for other valuable considerations, the
Savannah Florida & Western Railway Com pany hereby guarantees the
prom pt paym ent at m aturity, In gold, by the Sanford & 8t. Petersburg
Railroad Company, o f the principal o f the within bond and Interest
thereon, com m encing with that which will be due July 1.1 897 , and
until the maturity of the bond, at the rate of 4 per cent per annum,
payable semi-annually as aforesaid, as the same shall respectively
mature. [Signed by Vice-President aud Secretary of the Savannah
Florida & Western Railway Co.—E ds.]
“ The undersigned hereby'certlfles that the foregoing endorsem ent
was placed on the within bond with the consent o f the party d eposit­
ing the same, in pursuance of an agreement entered into between the
said party aud the holders o f the rem aining bonds o f the same issue,
the Sanford & St. Petersburg Railroad Compauy, the Savauuah
Florida & Western R ailw ay Company and the trustee o f the m ortgage
securing this Issue o f bonds, dated Ju ly 1 ,1 8 9 5 , whioh is died with
the undersigned.” [Signed by President o f the Pennsylvania Compauy
for Insurances on Lives & Granting Annuities.—E ds.]—V. 64, p. 421.

Snath Side Elevated RR., Chicago.—New Mortgage.—
Sale of Bonds.—The stockholders will meet June 24 to
authorize the miking of a mortgage for $1,500,000 for cor­
porate purposes. Of the new bonds, $750,000 only will be
issued at present. The remainder will be issued in the future
for permanent betterments, extensions and additions
to the company’s plant, road and equipment. The bonds
will bear 4j>£ per cent and bepayab e ia ten years, the com­
pany reserving the right to redeem them at 102 at any time
after five years. A press dispatch says that the first issue of
$750,000 has been sold at a price believed to be about par aud
interest less commission.
The Chicago “ Economist” says:
The com pany gets 8181,000 from the Master in Ohanoery from the
cash assets of the old com pany and will eventually get nearly $1.00,001)
more. Besides It has the net earnings for February, March aud April,
so that with the proceeds o f the bond issue it will have am ole funds
to oomplete the Improvements now planned. The oom pany figures
that the change to electrical pow er will result In a saving o f .8100,01)0
a year in operating expenses. Putting operating expenses at a
maximum of 60 per oeut o f gross reeeiots, and allow ing nothing for
gains from the L oop or from quicker and better servioe. still the road
will earn about 6 per oent net on the m arket prioc o f the stook.

Decree Value of Old Bonds.—The Master having in charge
the settlement of the accounts of the old Cnicago & South

fH E

841

CHRONICLE.

Sid® Rapid Transit Co. find.* that each outstanding first mort« i « . bond n entitled to f 182 75 and each extension bond to
I . •;; r> ta ca*b Some sra til amount additional (less than a
U..-H! uiay come to them later.—V. 61. p, 768.
Superior Consolidated Land.—K-tvirer A p p o in ted ,—A
rm m -rh tf i»(‘o appointed in the United States Court at
MadU m, Ww„ for this land com pan® on application made
lor <h«- . o.ttt' f Thomas Scott of Pailndelphia. based on a
rudiment of SlG.liW. The attorneys, also, it is stated, repre­
sent the Northern Tactile RE. Co. with a note for $‘2o,000
Bsui w.n.l holders repr* sent ing $2<W.nOO. The company owns
a I
part of East Superior. Its secured indebtedness is
rt p rtwi to aggregate about $650,000, $850,000 of which is
taxes, while the tl rating indebtedness is said to be $200,000
more, —V. 84, p. 85,
Third Aren tie KK, (Ji. Y. City)—Q u a rterly.— Earnings for
tic quarter and the nine months ending March 81, have been
reported as follow*:
3 rn«*. en d .
Spur 3 1

I-.:.— ............

d ro ss
ea rn in g s,

S et
e a r n in g s ,

Other
incom e,

2 3 1 ,3 3 5

1 2 .5 5 8

£ MJ7.il 7 $185,ShS $13,478

1 - . . . L , ...................

5 8 1 ,5 1 1

0 m sftfli—

1896.7 .............. 1,901.097 781,550
J 9P5H
. ..........
18
- 0L
,....................

. .1.1.
1......
, 9 2 6___________
,6 3 9 8 3 9 ,2

In terest
taxes, etc.

B a la n ce
su rplus.

$91,821

$107,512

80,(530

1 6 3 ,2 6 3

43,698 270.422
33,580 210,873
______

554,820
625,948

L sns and bills parable March 81, 1807, $1,275,000, against
♦1,875,000 on June 30, 1806.—V. 04, p. 831.
Caion Pacitle By,—C ollateral S ecu rin g Collateral I r m t
( M d n o te s , 0s.—Below we give from the Union Pacific report
a list of she collateral on deposit Dec. 31, 1890, as security for
tbr collateral trust gold notes, tis of 1891. For the bonds we add
the total amount irsued, whether pledged or unpledged, and
a recent quotation for the same, or if that is unobtainable,
tbe company's net earnings or deficit after paying operating
expenses and taxes.
Ptsdoai
Total
Bonds—
Par Value.
Issue
Remarks.
Col.-. c e o L T » ilT .P . n e o . f c G .1 . n . i s i .o o o $4,788,000.Q u o te d a t H5 h id.
f. uii
: 5'- S '" "
H I I,iu "tfd 111 :>• u>ke(i.
K c!i -‘ jfc P ark Cit,jr m
.... .
4$0.<**0
480,000 In lgMJ n e t $34,205.
n
A - N'S.-ru Jilt . .. Uev.-'OG
1.0*/ .(juti. N e t *0541O o v e r on .f 11,451

..... .

I- •

,<>v.

K***«*t City X Omaha 5 s,. . . . . . . 1,505.500 2,713,000.Quoted at 27m 3 .
K w n v y A Black Hills Ss.. . . . . . .
339,325
852,000,In 1800 deficit $7,500.
3Lr. M n HR, Tunnel Co, 7 # .. . 400,000
A Una X Bur. fis.
m >•0
678,000.In 1804-95 deficit $22,579.
t.»££U»h» X Rep. \ •Itey 7 ^ .,.......
121,000 \ «••«*. Ann in IfcjM fiAt tflfi 428
Rep Vall**y 5 $. . . . . . . . 1 .7 7 2 0'«'O \ »,M l, 0 0 0 . I n i wi net *06.4*0.
i “. P I>. X is. eonwtl. '*>. ,.
.. 5.81V00 15,801,000.Quoted at 3-1 bid.
Vuix ^-utliern Extern. 7*...... .
0- 3,000 1,950,000.Quoted at 75 Old.
Total...

%tu-<:*

.$15,023,825

firm*i

Cm.on Psrffic c<mU Co . .............. $4 3~S.<m $5,000,000.Net earns. In ’96 $319,289
S3* ,000
Va. Depot. Bplume Fails, Wash.
217.000
Gre«a K ir. Water Works 1st- Si.
217,000.In 1896 net $25,686.
163.000
Vghtm tin. Hr. A Depot lat M
132.000
iUtUe»nake Cr. W at er Co. 1 st M.
150,000.In 1896 net $30,572.

9,5o0

Other bead#— ..................

Total mi»ce!ltmt*ous.----------$5,233,500

§!iyl0—

Atch. 0,1. A Pac. R R ...... .
Aicli. Jewell C<>. A West, RR
Cartscfii Cat- fTKy...
Oml- Branch Un. Pae. RR «
Ben. hcsul A Q w i O B RR..
Beh« A Park City R R . k Southern RR
.&*&*«« Central RR.

Kaoaa# c«y AOmaha RR ,.

Stock*—
8. Park & LeadviUe S. L. RR
Uni *n Pacific R y.................
V. Pnc, Pen. A Gulf R y...... .
V. Pae. Lincoln k Col. R y...
U. Pae & West. Col. Ry. ..
Miscellaneous R R .stocks...
Green River W ater Wks. Co.
Morrison Stone. Lime &T,Co
Occldental & Oriental SS. Co.
Pacific Bkpresa Co................
snake Cr
k Water C
o.
Rattlesnake
Cr’k
Co.
Union Pacific Coal Co.........

$020,300
105.000

2i0,0»0
874,200
3,000,000
489.000
<MM,900
1,318,400

1,725,875

773,142
Kearney A Black Hill* R y,.
405.000
Ism ttm m k Bra porta R y . . .
420.000
Montana Ry
M-i>num& t'nSou Ry
426,100 Wot id R iv e r lu jp r ’t. C o .........
CJhfKalia A R«p«t>. valley Ry. 2.827.524 M 1s ce lla n e o u a .................. . . .
O re. m #m h.k U ta h N or. R y . 15,116.703
g a lln a A S« -a th w este rn R y . .

231,700

T o t a l............

$1,000,000
177,450
13,251,882
1,997,800
400,500
170.700
225.000

100.000

150,000
2,400,000
66.300
4,437,900
258,560
284,217

. . . . . . . $59,752,453

MUcfUammisA i '.r t < .ir Hr. n « t « — 1200,090 ; Pontf.od i Paget Sound RR.. $969,S46
11 at chin. S4»w?hvm Ry.. n&ii W ood R R er lm prov’tCo, notes
*«£* doe ><o w •*« after »*leo$
($467,000 Kearney & BPk Hill
c il ii- ra!
.. . . . . . . . . . . . . . . . 417.874
let M. bonds us collateral.,.. 350,000

The change* in the collateral during 1896 were:
LN#r«*f4of
t Acquired—
Idaho C-votral 0*.-...,..*
$-8-2.000 Hutchiu. A Southern bonds. $1,035,000
Ij,
i l l t '*C *’ .
376.0ty» i
“ M
ff.r-k
iSdonn
s to
c k . fl
0,484,900
■urt.t *00 A c q u ire d in 1m i f o r $'J 19,863
*t k. 2 , 8 0 1 .’.Off - *»n ft-reelosure o f n o te fo r

lltiNpellftfieoiii *Gyck»:., . . . . .

25,600 i
i

$767,737 (field b y t h e ! rust)
fo r w h ic h th e y w ore p led ged .

The atw-vo rx4lui>-ral include* the S4,378,000 bonds and
F*.‘ b’1•t11
»»f the Union Pacific Coat Co., whose income
account ha* b<<n a* follows:
— Xrl receipts,— .— ——----’ Charges.-

l‘#«jr, tftstfrom up.
m m ., .

I f 03.. ,.
IV '
fSift/n
On t
is tb*' ;

0 (h «r tm x D ep recia tion , JuL^eM.

4 n ,\ m

4I3.CI0NO

$11,814
173
4,215
20.173

75,720
83,094
71,551

Balance,

$282,407
291,752
191,101
294,217

d e f.$ 1 0 ,2 4 6
8iir.X2,497
RUIN5 1 ,2 1 5
aur.67,495

1MW iff< id- ; l*if**r*j-t on muds
o .u
m .2 H .

.m

I fj vi 4

« fob

fmtmr?

Ir

:e l m i

j In term find die ntenda an—

90 f V i |f|.( R x o rw a s r •.stuck. $72,000
4 V 2 ' ,vif I tin, Elnmtor
H e .....
3,622

K.»ba HrPL
m i tfniofi i v p t, k . ■'-.slock
1,500
P-.
.
|%*5 c
“ r" !*
38 7.**7.0 |
T'0.;i! ................. ..........$649,317
itefi »«!*. *m1$
fii roral in i § 8 5 . . . .. . . . . . . . . §540,887
*m#,«©
e l dnrteiE i i f i ,
C&Uale ui *
fM l'iirr-tl T rm t 6k o f 1879 and 5$ o f
U ifWi; P-- oiflo Btu rt Viows th© following bonds
•till ID IflfKlt f • Off
Ufr>d« :
fm

Cot* arxicta

•#?*»!%, Chrtnb at 7*
■vi
o f 1879,
5*©fl
i #ii *9,019

- Uni ,f

V a f.~

.809,000

r/tah. It

1,869,000

Utah So.

$79,000

[V ol . L XIY,

The Colorado Central bonds are part of an underlying issue
of $1,788,000 on the Union Pacific Denver & Gulf (see In­
v e s t o r s ' Supplement) and cover 271 miles of road, includ­
ing the important line between La Salle and Julesburg, Ool.
The Utah Northern bonds are part of an underlying loan of
$1993,000 assumed by the reorganized Oregon Short Line
RR. (See Investors’ Supplement,)
The Omaha & Republican Valley Rv. has outstanding $1,
559.000 1st mortgage 7s, due 1909; $3,186,000 consol, 5s, due
1927 (trustee, American Loan & Trust C>. of Boston), and $1,246.000 first mortgage extension 5s, having the same trustee
as the consols—also “ accounts payable, $4,497,073.” The
road of the O. & R. V. Ry. is made up as follows :
Miles.

Mil**.

V a lle y , N e b ..t o M a n h a tta n , K a n ..1 8 *

G ra n d Islan d , N ob., t o O rd, N e fi.—

61

Valparaiso, Neb ,t«»Stromsb’g, Neb. 53 rtt. P a u l. .N'eb , t o Lorn* C ity , N e b ... 39

.... P le a sa n to n , N e b ......... 23
C o lu m b u s. N eb., to N o rfo lk , N e b . .. 50 B o e ln s.. Nob.,
O con ee. N e b ., to a lb lo n . N e b ............ 35 O th e r lin e s .
G en oa , N eb., t o C e d a r R a p id s, N e b . 31
T o t a l........... .
........... .................................................................. .
. .482-

The earDiogs of the road have been:
EARNING S O P OMAHA & R E P U B L IC A N V A L L E Y R A IL W A Y .

Grnss
eamhigs.

$7<O,!S0
IS 9 5 ...... <28.095
JS04..... 883t0l9
.. ...

1S9L...... 1,18(5,073

loDO, ..,.1,213,055
•V. 64, p. 799.

Net.
over Uixes.

$60,428
18.889
10,946
d o t 170,075
d e f. 128,165

Miscel.

def. 9,162

fiI:S
4,161

Interest.
328,230

32^,230

329,578
328,705

Sinlt.

Bafn nee,

$l“wa
20,006

tm

20,820

264,799
615,729
471,585

United Electric Secnrlties.— S ecu rities B o u g h t .—The com­
pany is reported to have bought $4,000 1st Benes bonds at 103
and interest, leaving outstanding $42,000; $5,000 fifth series at
86T and interest, leaving outstanding $477,000, and $100,000
ninth series at 90'87 and interest, leaving outstanding $715,000.
—V. 64, p, 062.
Wilmington & Weldon RR.—P a ym en t o f B on d s D u e M a y
1.—Tbe sinking fund gold mortgage 7s maturing May 1 next
will be paid on that date upon presentation of said bonds and
coupons at the office of Messrs. Brown Brothers & Co., No. 59Wall Street, New York City,—Y. 64, p. 333.
Wisconsin Central Co.—C ou p on P a ym en ts a n d D e fa u lts .
—The coupons due May 1 on the $3,642,000 of improvement
bonds will be paid as usual at the Merchants’ National Bank,
Boston. The receivers have nothing to do with tbe payment of
interest on this loan, said interest beint> met from the income
of the collateral securing the bonds. Chief among the col­
lateral is about seven-eights of the $2,500,000 su ck of th®
Central Car Co., to which company the Wisconsin Central in
the year 1895-96 paid a rental of $260,346—(see report V. 63,
p. 921 and Y. 55, p. 22, 757.)
The court has suspended the order authorizing the receivers
to pay the interest on the $150,000 of Chippewa Falls & West­
ern and $180,000 of Minnesota St. Croix & Wisconsin first
mortgage bonds. This interest is due May 1 and will be de­
faulted on.—V. 64, p. 713.
—The Southern Railway Company has placed an order with
the Richmond Locomotive Works for twelve heavy locomo­
tives. The engines will be of modem design, and the pas­
senger engines the heaviest in the South, and as large as
are used anywhere in tbe United States, This fact goes to
prove tbe great improvement in the superstructures and road­
bed of the Southern system.
—Messrs. Flower & Co. have occupied their new offices at
45 Broadway—Aldrich Court Building. The tearing down of
the Exchange Court Building necessitated the firm leaving
the offices they bad occupied for seventeen years. The new
quarters are on the first floor facing Broadway and are hand
some, well lighted and commodious.
—Mr. Lathrop R. Bacon, member New York Stock Ex­
change and senior member of the firm of Bacon, McKinley &
Sherman which expires to-day by limitation, will continue
the business at 8 Broad Street, with Mr. Allen D. Loney, un­
der the firm name of Lathrop R. Bacon & Co.
—Messrs. Boody, McLellan & Co,, members New York
Stock Exchange, 57 Broadway, offer and recommet d as a safe
investment a fiist mortgage gold security netting 6 per cent,
A special circular will be amt on application.
— Debentures of serifs six of the New EnglaudLoan & Trust
Company maturing December 1st, 1897, will be paid at their
office, 34 N.ssau Street, on June 1st,
—(\ H. Win e & Co., bankers, will occupy tlo ir new offices
in the National Bank of Commerce Building, 31 Nassau
Street, on and after May 3d,
—Ct upotiB at d dividends payable at the office of the Farroeis’ Loan & Trust & titpany on and after May 1st will be found
adv. rtlscd in to-day’s issue.
—Mr. F J. Listnan attnourcts in another column that he is
prepared to sell a limited amount of first mortgage bonds to
yield
to 6 per cent,
—Messrs. Winslow, Lanier & Co. will pay dividends on a
nutnbtrof securities, list of which will oe found in another
column.
—The Manhattan Trust Company took possession of its
new offices, corner of Wall and Nassau Streets, on Wednes­
day.
—Atuntion is directed to the list of investments advertised
in to day’s issue by Messrs. Redmond, Kerr & Co.

THE CHRONICLE,

H a y 1, 1SW7.J

845

port, this rate war situation was forced on this Company
after unusual efforts to avert it, and it is therefore with
pleasure that the above announcement is made. The new
is more advantageous to the Central Company
MEXICAN CENTRAL RAILWAY COMPANY, agreement
than the one terminated June 1st, 1895, and the contest has
LIMITED.
fully vindicated the position taken by this company. A l­
though rates were restored on the above-mentioned date, the
SEVENTEENTH ANNUAL REPORT—FOR THE YEAR effect of them was not felt on the earnings in 1896, as most
ENDING DECEMBER 31, 1896.
of the international traffic coming into Mexico during De­
cember was either en route when the new rates were put in
Office of the
)
force or under contracts at old rates.
Mexican Central R ailw a y Co ., L imited, [Whatever cost the disrupture of the old Association has
Boston, April 23, 1897. )
been to this company, it may he considered amply repaid in
To the Stockholders of the Mexican Central Railway Company, the impetus given to the port of Tampico, now well estab­
lished as the port o f the largest tonnage and the most im­
Limited:
Your Directors present the following Report of the Com­ portant and most convenient of the Mexican ports.
The percentages o f local and international earnings to the
pany for the year ending December 31, 1896.
The operations for 1896 compare with 1895 as follows, viz.: entire gross earnings, exclusive of freight on construction
material, compare as follows:
Mex. Currency.
1896.
1895.
Dec or Inc.

H e y arts a n d B a c u r o e u ts .

■Gross Earnings . . . $10,208,020 39
O p e r a tin g ,E x p .... 6,744,273 19

$9,495,865 68 Tno. $712,154 71
5,599,390 61 Inc. 1,1 44,8 825 5

Earnings on loca l b u sin ess....................................
Earnings on international business....................

1896.
69 4 6 1
30-54

1895
72-58
27-42

N et Earnings....... $3,461,747 20

$3,896,475 04 Deo. $132,727 84
Notwithstanding the falling off in local freight earnings
The wyes at San Luis Potosi and Silao, amounting to and the large increase in international freight earnings, it
53-100ths of a mile, were added to the operating mileage on will be noted that the favorable comparison between local
January 1st, and the Ameca Extension, 55-41 miles, was and international business continued, nearly 70 per cent of
added November 1st, making the average operated mileage the revenue being on business local to the country.
for the year 1,869-60, compared with 1,859-83 in 1895, an in­
The extension from Guadalajara to Ameca was completed
crease for the year o f 9'77 miles.
in October last, and the operation of it for revenue account
GRO88 EARNINGS.
commenced on the first of November.
The gross earnings of the Tampico Line increased $249,The increase in gross earnings for the year is made up as
514 76 over 1895, of which §104,662 61 was on imports, $39,follows :
On International Freight B usiness...........................................$437,767 32 452 24 on exports, §41,117 69 on local freight and $64,282 22
On Construction Material for A m eca and Laguna E xten’s. 132,186 16 on other classes of business; but the expenses were increased
On L ocal Passenger B usin ess..................................................... 73,279 15 by causes stated under the head of Operating Expenses,
On International Passenger B usiness.....................................
33,261 02
On Baggage, E xp., Telegraph and M iscellaneous B usiness 104,397 99 §555,041 70, so that the operation of the line for the year
showed a loss of §282,836 42.
$780,891 64
In considering this result it should not he lost sight of
L ess : Decrease on Local Freight Business............................
68,736 93
that the local earnings o f the Tampico Line are quite
meagre, that a very large tonnage of Company coal and
A net Increase, M exican Currency, o f ......................................$712,154 71
being 7-50 per cent, or exclusive of freight on construction material is handled over this Branch without earnings, but
contributing great advantages to the operating results on
material, 615 per cent.
The earnings from local agricultural freight traffic for the other parts of the system ; and that the abnormal condition
year show a loss, owing largely to the drouth, which caused of low rates on international traffic h s reduced the gross
a total or partial failure o f crops in territory tributary to the earnings, while the operating conditions, hereafter referred
Mexican Central Railway. The only exceptions to this were to, have abnomally increased the operating expenses.
Notwithstanding the above unfavorable results this
in the States o f Jalisco and Chihuahua, where full average
branch is o f great value to the property, from the reduced
crops were harvested.
cost
of operating material received via Tampico, through
The increase in international business was very largely
due to the movement of corn from the United States, ! which port the greater part o f our foreign supplies now
brought into the country, owing to the drought, free of duty comes ; and from the commanding situation it gives to the
under Government order. Under normal conditions this in­ Mexican Central in developing the resources tributary to its
crease in revenue should accrue from local traffic. We not territory, and in protecting its revenue against undue com­
only lost, therefore, the local haul on such business, but it petition.
The local passenger business over the whole line increased
was also carried at reduced rates of transportation, produc­
$73,279 15, or 4‘86 per cent, and the international passenger
ing little or no profit.
The diversion to Tampico o f a large share of the inter­ business increased §33,261 02, or 10 36 per cent, a total
national freight traffic into Mexico consequent upon the rate increase of §106,540 17, or 5-83 per cent.
D E T A ILS O F GROSS EARNINGS.
war, referred to in last annual report, continued during the
(M exioan Currency.)
year 1896. Much of this business was carried at low rates,
Glassification.
1896.
1895.
Increase. Decrease.
thereby causing a decrease in net revenue. The total in­ F re
$501,216 55
ig h t.............. $7.6-16,257 99 $7,145,041 44
crease in gross revenue from international freight traffic was P a ssen g er........ 1,934,612 78 1,828,072 61
106,540 17
nearly 20 per cent.
i E x tra Baggage.
32,445 85
28,364 92
4,080 93
261,054 00
245,373 31
15,680 69
The results from freight traffic for the year cannot be con­ E x p r e s s ............
| T e le g r a p h ........
42,177 26
42,402 91
$225 65
sidered satisfactory, but the combined circumstances of fail­ M iscellaneous..
291,472 51
206,610 49
84,862 02
ure in crops and forced low rates on international business
T o ta ls .........$10,208,020 39 $9,495,865 68 $712,154 71
were abnormal.
The rate war on international freight traffic was termi­
All classes o f earnings increased over the previous year
nated on December 1st last by the re-forming of the Mexican excepting telegraph earnings, which show a small decrease
Traffic Association with the original four companies of $225 65, a loss in receipts caused by competition at all
as members, viz.: Mexican, Interoceanic, Mexican Na­ points between the Federal telegraph and Mexican cable
tional and Mexican Central. As stated in the last annual re- |lines.
COM PARISON O F EARNINGS, 1 8 8 5 TO 1 8 9 6 IN C LU SIVE .

(M exican Currency.)

Years.
1 885
18 86.......
1887.......
18 88.......
1889.......
1 8 9 0 ___
18 91.......
18 92.......
1893.......
18 94.......
1895.......
1896.......

Av. miles Inc. over Pr. cent
operated, prev. yr. of. ine.
1,235*90 .
1,235-90
1,235 90
1,316*40
1,461-85
1,527*20
1,665*11
1.824*83
1,846*64
1,6 59*83!
1,859*83
1,869*60

Gross
ta m in g 8 .
$3,559,560
3,857,705
4,886.578
5,774,331
6,337,225
6,425,094
7,374,538
7,963.253
7,981,768
8.426.025
9,495,865
10,208,020

le s s construcl’n
material.
76
85
67|
3l|
38
08
02|
69
31
281
68
39 j

none
none
80*50
145 45
65*35
137*91
159*72
21*81
13*19
none
09*77

none
none
06*51
11*05
04-47
09*03
09-59
01*19
00*71
none
0053

633*70

51*27 $82,290,567 4.2*

$26,741
none
301,317
471,830
475,451
303,019
431,797
397,376
none
none
68.256
200,442

07
42
92
53
86
67
40
31
47

Gross
commercial.
$3,532,819
3,857,705
4,585,261
5,302,500
5,861,773
6,122,674
6,942,740
7,565,877
7,981,768
8,426.025
9,427,609
10,007,577

69
85
25
39
85
22
35
29
31
28
37
92

$2,676,233 65 $79,614,333 77

This statement shows that while the mileage of the road
in 1896 had increased 51 *27 per cent since 1885, the gross
commercial earnings had increased in the same period 183*27
per c e n t; and the gross commercial earnings per mile ofjerated, which were $2,858 50 in 1885, had increased to $5,352*79,
in 1896, or 87*26 per cent.
OPERATIN G EXPENSES.

The comparison of classified expenses with 1895 is as
follows :

Increase over Pr. cent Earns, per Inc. over Per cent o f
p revious year. o f ine. m ite oper. prev. yr. in c. or dec.
$324,886 16
727,555 40
717,239 14
559,273 46
260,900 37
820,066 13
623.136 94
41.5,89 L 02
444,256 97
1,001,584 09
579,968 55

09*20
18*86
15*64
10*55
04*45
13*39
08-98
05*50
05*57
1 1 89
06*15

$2,858
3.121
3,710
4,028
4,009
4,009
4.169
4,146
4,322
4,530
5,069
5,352

$6,474,758 23 183*27

50
37
06
03
83
08
54
07
32
53
07
79

*$262
588
317
D.18
D.00
160
D.23
176
208
538
283

87
69
97
20
75
46
47
25
21
54
72

I n c .0 9 ‘ 20
I n c .18-86
I n c .08*57
Dec.00*45
D eo.00‘02
Inc .04*00
Dec.OO 56
Inc .04*25
I n o .04*82
I n c .11*89
I n c .05*60

$2,494 29!

I n c .87-26

D E TA ILS OF GROSS E X PEN SES.

(M exican Currency).
Classification—
1896.
M aintenance of Way and
Structures.....................
$984,770 86
M aintenance o f Equipm ’t 1,206,195 86
Transportation and T raf­
fic E xpen ses................... 3,920,122 18
General E xpenses............
633,184 29

1895.

Increase.

$879,511 54
959,327 22

$105,259 32
246,868 64

3,194,596 49
565,955 39

725,525 69
67,228 90

T otals........................... $6,744,273 19 $5,599,390 64 $1,144,882 55

TH E

846

C H R O N IC L E .

»•*•««« rat* of «xoha»gi< on the United
t rial and Expanses made a difference,
848 12 in the expense#, and if this be
*< of vom[*rist!i to the above figures,
iting expense* over the previous year

for !
a

>$1, 47,Tits 87.
PM ’ -•o f track were lesft titan in 1888, but

it •ua.it, t- o f w ay shows an increase on

e w a l :,f rails and ties and repairs to bridges;

t-pound mil on the Mexico Division, front San
w»«re renewed with 88-pound rail and
el Hit
sy v,
of Miqxmml -suitIt of El Tigre were renewed with
the stum- weight, the total amount charged to Operating
Kxjiem* s for those renewals being $184,588 'fit.
The tie renewals during the vear were 261,988, costing
$271,132 8.5, compared with 200.SJ9 in 1895, at a cost of
j!\r,.t',.'f v t an increase of 61,109 in the number of ties and
$75.5 9t»l in the expense, making a total of ties renewed
front 1683 to 1896 inclusive of 8,685,070.
During the rear 8,800 lineal feet of wooden trestle
bridges were removed, 8,168 feet being taken out, ditched,
a n d tie* u js-ttin gs filled with earth, and 5,642 feet being
rvphf.st by cast-iron culverts. The amount charged to
OjH’rating Expenses for these replacements w a s §47,743,
the total expense of repairs of bridges during the year being
$160,258 22. compared w ith $130,608 74 in 1895. an increase of
is .

Of the increase in the expenditures for maintenance of
equipment, $104,560 11 was for locomotive engines, §82,036 60
f.,r freight cars, §44,864 19 for passenger cars and §13,714 28
(or floating equipment. The increase for locomotive engines
w a s caused entirely by the increase in number of miles run.
reight and passenger cars was due to
heavier repairs and renewals, consequent upon the age of
the equipment. and also to the fact that a much larger num­

[V ol. L X IV .

ber of foreign freight cars were used on the line than in
Iformer years. The increase for floating equipment was prin­
cipally on account of the tug Tampico, which had to be sent
toNew Orleans during the year for general and heavy repairs. ;
The expenditures for maintenance of equipment include
the equivalent of §48,000 U. S. Cy, (amounting to 90,360
Mexican Cy.), credited to Equipment Fund to provide for
; condemned and destroyed equipment.
The large increase under the head of “ Transportation and
Traffic is accounted for by the large increase m locomotive
and train mileage, caused by the increased traffic. The in­
crease in freight tons one mile was 27-29 per cent, of which
over two-thirds was on business via Tampico.
The lack of rains in Mexico and the consequent scarcity of
; water caused much difficulty in moving traffic and largely
increased the transportation expenses^ the failure of the
ordinary sources of water supply compelling the company to
haul water from place to place, but the greatest difficulty
and expense was experienced on the Tampico branch,
where the traffic was double that of any previous
year. At one time no water for locomotives at Tampico
could be obtained at any nearer point than Las Palmas,
seventy miles distant. A steam tug service had to be estab­
lished for about six months of the year, hauling water in
barges for forty miles from up the Panuco River, and several
miles of new pipe line had to be laid on the Tamasopo
mountain to secure increased water supply. Your Board
have now authorized expenditures for water facilities which
should prevent unusual expenses and embarrassments on
account of insufficient water for at least several years to
come. A pipe line about ten miles in length, costing about
§90,000 Mexican currency, has been completed, conveying
water from the Tamesi River to Tampico, which will insure
an abundant supply, and stimulate the location of industries
at that terminal.

t ' t i r i ' n v l SHOWING C. S, CUBKKSCT MATERIAL AST) EXrEXSKS CHARGED IS THE OPERATING EXPENSES 1891 TO 1896 IXCMKIVB, AND
YEARLY INCREASES OR DECREASES IS SAME OWING TO DEPRECIATION OR APPRECIATION IN SILVER.
United States Cur­
rency. Amount.

Year*.

$1,549,908
1891............
1,386,065
1 9 9 ? ......,.
1903..
. . . . . . 1,213,270
1 9 9 4 ..
. . . . . 1,089,472
1 *05. . . . . . .
929,677
1896. . . . . . .
1,618.481
T ota l*..

60
68
38
37
49
21

Prem ium .
Average

rate.

129-83
14316
16004
192-69
168-9-1
188-65

$7,216,985 73

Amount.
$446,841
598,277
728,475
1,009,829
826,880
929,442

M exican (7if.rreri.ci/
Percentage
equivalent charged in
to total
the expenses.
expenses.

39
01
62
98
S3
18

$-1,539.747 01

$1,096,839
1,984,342
1,941,746
2,099,302
1.756,558
1.977,923

Mexican Our. m ulva­ ilex. Our. ine. o r
lent that would have dec. in expenses
been charged a 1p re ­ over pres, y ’ r ow­
vious year's rate o f in g to deprer. or
Exchange.
apprec.in Silver.

99
69
00
35
32
39

42-67
39-67
373831-38
29-33

$1,899.833 28
1.822,621 29
80 1,735,734 03
45 1,729,150 58
1,783,951 89
1.980,809 51

$11,756,712 74

3604

$10,952,100 58

In o.
In c.
Ine.
Ino.
Deo.
Deo.

$97.006 71
161,721 40
206,011 97
370.151 77
27,393 57
2 ,8 8 6 1 2

In o.$804,612 16

During the six years covered by this statement the inAttached to the pamphlet report will be found a map
ereused rate of exchange on the United States Currency Ma­ showing the lines of the Mexican Central and other railroads
terial and Expenses has caused an increase in the operating in the Republic of Mexico,
exi*ni**t in Mexican Currency, allowing for the small deEQUIPMENT.
crtsaoe-H in 1895 and 1898, of $804,012*16.
The equipment list on Dec. 81, 1896, was as follows :
Although wherever practicable purchases are made in
Mexico, yet the bulk of' all the material has to be purchased
ot’e Engines— C om bination___
16 C aboose........ .
80
in other countries, and since the rapid decline in silver com­ 4 Lwoeom
heel................
7 Bag., Mail & E x p
26
menced in 1893 the stock has been gradually decreased and 6
“
5 S pecial.................
4
Tot. f ’ght oars.,2,919
“
52 Officers'................
4
kept at as low a point as possible consistent with safety and 8
Bundry Cars—
10 “
73 P a y .......................
2 W ater...................
74
economy in operation.
17
B ogie....................
W
ater and coal..
4
The United States Currency values of the stock of ma­ M o g u l..................
1
T ot. pass, cars, 120 W recking............
10
6
terial and fuel at the periods specified liave been as follows: C onsolidation....
Freight Cars—
Pile d riv er..........
5
Itw m 1 .f r .it, 1692 ................................................................... $855,835 90
ft w t t t lx t 31. 1898....................................................................... 699,732-87
December 31 ,189 1....................................................................... 487,310-74
Ib-fi-mi.erSl. 1885 (etoladlng material tor construction
of Vince* Extension* ...................
-112,419-96
''»• ............................
419,652-45

from which it will be observed that the stock lias been de­
creased between December 31. 1892, and December 31, 1896,
$436,183-45, or over 59 per cent.
The statistics of earning* and expenses for 1896 and 1895
compare os follow*;
STATISTICS o r EARNING* AND EXPENSES.
(.Mexican Currency),
1896.
1895.
Increase.
1,869*00
1,859-83
9-77
$0*400 00 95,105 77 $354 23
M
$3,607
83,010 70 $596 63
$1*852
07 $2,095
07
.........
................
$242 40
Kara*
Orf97
—
H
00*07
58
7*10

Average Mio?.* operated..
:

-■

MI USAGE.
T ie

tf U

rood lias been increased by the addition
ion, 55*41 miles, the Laguna Extension,
extension o f the main fine at La Barra
ii of 95-30 mil. « ; and the Ban Bias Divrred to hereafter), has been deducted.
- mileage of 78-70 miles, making the
on December 31, 1896. as follows:
ft to I Itiijati Jtm rcr................................ 1,224-16
Ban 11ago.
1*40
43*81
11*50
icUtli)
101*21
55*41
400 93
urH.L.Potoai
5*10
H it
6*21
.
39*78
.1,955*66
- 157*95
.2,113-61

B o x ....................... 1,868
T ot’l loeom ot’ v's 161 S tock.................... 322
Passenger Cars—
W ood....................
43
F irst cla ss..........
16 Coal...................... 245
Second class.......
20 Coke......................
75
Third class.........
32 F la t..................... 286

Steam sh ovel___
Ballast.................
Steaui d errick ..,

1
40
1

Tot. s’ dry cars.. 135
Total cars........ 3,174

During the year nine new locomotive engines, two ca­
booses, fifty coal cars, fifty stock cars, one hundred and
fifty-tlu-ee box cars were added to the E q u ip m e n t , and
eleven freight cars were changed to water cars under the
designation of “ Sundry oars.” There were also purciiased.
for account of the Equipment Fund, replacing condemned
and destroyed equipment, one locomotive engine and nine
caboose cars. At the end of 1896 the amount standing to
the credit of Equipment Fund was sufficient to provide for
all cars on the condemned and destroyed list- at that date.
Notwithstanding the largely increasing business of the
road from year to year, as shown by the statement of gross
earnings, the additions to the equipment have been very
ligbt, and at no time has either the power or number of
cars been adequate for the business to be handled. This has
been more apparent during the past year with consequentincrease in expenses for repairs to engines owing to too
heavy service, and haulage of oars from place to place to
meet requirements; and in 1896 we paid for use of foreign
cars in excess of the amount received §132,006 70, an increase
of §43,061 67 over the previous year. At the end of 1896 the
equipment, list shows a total of 161 locomotive engines and
3,919 freight cars, while at the end of 1892 we hau 148 loco­
motive engines and 2,671 freight cars, an increase in four
years of only 13 locomotive engines, or 8*79 per cent, and 248
freight cars, or 9-28 per cent, although in the same period
the tonnage of commercial freight increased 48 per cent and
the freight tons one mile increased 38 per cent.
In order to provide for the rapidly-growing needs of the
company in this particular orders have been placed since
the close of the year for 26 locomotive engines, 380 box cars..
200 coal cars, 75 stock cars and 25 cabooses.

THE CHKONCCLE.

Ma t 1, 1897.]
TAM PICO H A R B O R .

No material change took place in the depth of water at
the bar during the year. A good navigable channel was
maintained, and the minimum depths at mean high tide at
the close of the year were 27'2 feet on the outer bar and
24-8 feet on the old” inner bar.
The beach at La Barra has become a popular pleasure re­
sort for people from Tampico, and a very good passenger
business is done between the two places. To increase this
and also to provide accommodations for excursionists a pa­
vilion and bath houses have been erected at La Barra, a
small station building put up and the main line extended
for a distance of ' l l of a mile, the total cost of these im­
provements being $8,469 18 United States currency.
A steam tug, the “ Panuco,” was purchased from private
parties in Tampico during the year and refitted at a total
cost of $5,692 04 United States currency, making a valuable
addition to the floating equipment.
The work on the new Custom House wharf and building
at Tampico, the construction of which has been undertaken
by the company on account of the Government, as stated in
the last annual report, has been carried on during the year.
The wharf has been completed and satisfactory progress
made on the other parts of the work.
The following tabulation shows the value in Mexican cur­
rency of exports and imports through the ports of Tampico
and Vera Cruz for the fiscal years ending June 30, 1896, and
1895:
Tampico.
E xports, 1896___$23,920,464
E xports, 1 8 9 3 .... 15,546,228

Vera Cruz.
$22,354,298
27,413,009

Increase,
Im ports. 18 96___ $8,685,442
Im ports, 1895___ 3,642,007

$8,374,236

Increase,

5.043,435

Totals, 1 8 9 6 ....$ 3 2 ,6 0 5 ,9 0 6
Totals, 1 8 9 5 .... 19,188,235
Increase, $13,417,671

Deorease, $5,058,711
$15,296,544
16,123,505
Decrease,

826,961

$37,650,842
43,536,514
Decrease, $5,885,672

847

balance to Income Account at the end o f 1895, amounting
to $21,782 19.
The maximum price at which the Company sold Mexican
dollars in 1896 was 56 1-8 cents and the minimum was 50J£
cents, the average for the year being 53-17 cents, as against
52-95 cents in 1895, an average increase o f twenty-two onehundredths of a cent.
The gain to the company in net earnings from this in­
crease in the value o f the dollar, amounted to $8,989 68 U.
S. Cy.; and there was also an appreciation in the value of
the Mexican Currency Assets from the increased value of
silver, amounting to $3,697 52, making a total gain from
this cause in the income for the year of $12,687 20 U. S. Cy.
Under the Mexican Government Conversion Debt Law of
September 6, 1894, the Company received during the year
$311,500, par value, Mexican currency, o f Mexican Govern­
ment Interior Redeemable Debt five per cent bonds, in set­
tlement o f balance due from the Government on Transporta­
tion and Telegraph Account to July 1, 1895. Ihesewere
sold and the discount appears as a debit in Income Account.
The accounts for 1895 included only nine months’ interest
collected on the Tampico Harbor Subsidy Bonds, while in
1896 a full year's interest is included. This accounts for the
decrease in the item of Tampico Harbor Company rental in
Income Account.
The increase in the fixed charges is for interest on bonds
issued in 1895 for the construction o f the Ameca Extension,
and in 1896 for the construction o f the Laguna Extension
and for general improvements.
The unfunded debt of the company at the close of 1896
remains the same as in 1895, viz., $1,000,000. This was
incurred by reason o f the cost of the Tampico Harbor works
exceeding the estimates. It has not been funded because it
has been found less expensive to carry it as an unfunded
debt than to sell the company’s securities to extinguish it at
the prices which have obtained during the last five years.
The debt is due to the Subsidy Trust Fund and is secured by
deposit of part of the Tampico Harbor Company terminal
mortgage 5 per cent bonds, all of which are owned by the
Mexican Central Company. The Tampico Harbor Company
bonds, in addition to the property of that company, are se­
cured by collateral of $2,932,900, par value, Mexican cur­
rency o f Mexican Government Interior Redeemable Debt 5
per cent bonds, received as subsidy on the Tampico Harbor
works. If these Mexican Government bonds were sold at
current quotations, as could be done at any time under the
provisions of the mortgage, and the money used by the
trustee to purchase from the Mexican Central Company
Tampico Harbor Company mortgage bonds, the sale would
place in the treasury of the Mexican Central Company over
$1,200,000, U. S. currency, a sum sufficient to pay off the
floating debt of $1,000,000 and leave a balance of over $200,000, U.. S. currency, for other uses.
The following is the statement o f the Subsidy Trust Fund
for the year 1896:

These figures show the remarkable improvement in busi­
ness that has taken place at Tampico. In 1895 the total
business through the two ports was $62,724,749, of which 30-59
per cent was via Tampico, and in 1896 the total business
amounted to $70,256,748, of which 46-41 per cent was via
Tampico, and while business through Tampico increased in
1896 $13,417,671, or 69-93 per cent over 1895, the business
through Vera Cruz decreased $5,885,672, or 13-52 per cent.
The value of exports through all the ports of the Republic
for the fiscal year ending June 30, 1896, amounted to $105,016,902, of which $43,520,261, or 41-44 per cent was through
this Company’s ports o f El Paso and Tampico : and the value
of the imports through all ports of the Republic for the same
period amounted to $42,253,938, o f which $11,362,967, or 26-89
per cent was through El Paso and Tampico, in addition to
which a large amount of exports and imports through Eagle
Pass was delivered to and received from the Mexican Inter- STATEM ENT O F SU B SID Y TRU ST FU N D , BOSTON S A F E D E P 0 8IT & TR U ST
•
CO., TR U STE E , F O R TH E Y E A R 1896.
nation Railroad, via Torreon.
(United States Currency).
The following is a statement of the cost in United States
Currency of the Tampico Harbor Company works and prop­ Balance in hands o f Trustee D ec. 31,’ 95 .$3,377,120 40
Interest
received
during
the year 18 96..
176,024 30 $3,553,144 70
erty to December 31, 1896, all o f which has been advanced
by the Mexican Central Railway Company, Limited :
L ets—
Prelim inary expenses..............................................................
General expenses.......................................................................
E ngineering...............................
Construction o f jetties..............................................................
Office and headquarters buildings.....................
W recking and dredging...........................................................
R eal estate...................................................................................
R ailroad extension to La Barra.............................................
Tracks at D ona C ecilia.............................................................
Tracks at T am pico.....................................................................
W harves and d ooks....................................................................
F loating equipm ent...................................................................
Bond interest..............................................................................
Subsidy expenses.......................................................................

$3,299
83,179
77,132
2,018,658
13,487
62,673
44,153
222,711
28,831
4,539
86,673
66,054
357,101
1,822

38
70
34
94
42
93
43
83
72
56
81
62
85
80

Trustee’s com pensation one year to Dec.
1, 1896........................................................
Am’t withdrawn from Fund and paid to
Company, in accordan ce w ith terms
o f T n ist Indenture....................................

$2,500 00
300,000 00

302,500 00

Balance in hands o f Trustee Deo. 31,’96.

$3,250,644 70

The amount o f interest collected fo r ac­
count o f the Trust during the year was.
Less Trustee’s com pensation.....................

$176,024 30
2,500 00

Showing the net incom e o f the Trust
during the year 1896 to have been.......

*173,524 30

an average rate o f 5’ 14 per cent.
At the time the settlement of the Subsidy was made with
the Government, $6,122,646 37 of the proceeds were invested
in Priority Mortgage Five per cent Bonds to the par value
N et o o s t .................................................................................... $2,936,922 99
of $5,597,000 00. This is an investment by the Trustee for
Deduct—
the same purposes as the Subsidy Trust FHmd, amounting,
T am pico Harbor Company Term inal M ortgage 5 %
Bonds received in settlem ent o f advances to Deoember
as stated above, to $3,250,644 70, so that the security at the
31, 1893, am ounting t o......................................................... $2,769,563 07
end o f 1896 for the payment o f the interest on the Consol­
Balance due Railway Company D ecem ber 3 1 ,1 8 9 6 ___ $167,359 92 idated Mortgage Bonds amounted to $9,373,291 07. ft has
been customary in previous reports to show these two items
for which a further issue o f bonds can be made to the Rail­ separately in the Balance Sheet, but they are now embraced
way Company in settlement.
under one heading.
_
$3,100,32133
L e tt :
Credit balance o f m iscellaneous interest account..............
163,398 34

FIN AN C IA L.

IN GENERAL.

The Income Accounts for the years 1896 and 1895, in United
In order to protect its cotton business and other important
States Currency, compare as follow s:
interests in competition with the Mexican International
Increase
Railroad, it was considered necessary by the directors for
1896.
1895.
or Decrease.
the Company to construct a branch from Lerdo into the
wet earnings............... $1,841,515 62 $2,063,156 99 Doc. $221,641 37
Interest on Bonds
Laguna cotton country. Work was commenced during the
and other oharges,
summer and completed on December 31st, to San Pedro, a
less Miscellaneous
distance of 39-78 miles. To provide for this Extension, and
Interest..................... 2,324.526 69 2,328,409 13 Dec.
3,882 44
also for additional water facilities and other general im­
Deficit....................... $483,011 07
$265,252 14 Inc. $217,758 93 provements, $800,000 of the Consolidated Mortgage Bonds in
which was provided for in both years by amounts with­ the Treasury were sold.
drawn from the Subsidy Trust Fund in accordance with
The $1,800,000 o f Consolidated Mortgage 4 per cent Bonds
the terms of the Trust Indenture. For the 1896 deficit only sold in 1895 and 1896 are the only securities the Company
$300,000 00 were withdrawn in that year, being all that was has sold since 1892,and cover the construction of the Ameca
needed until after the first of January; but since then there and Laguna Extensions, 95-19 miles in length, additions to
has been withdrawn a further sum of $161,228 88, making the equipment and various improvements and betterments
up the total deficit for the year, after deducting the credit made in the last four years.

TH E

8»8
THv A x m t * E

i
■
111Ui S i

[V ol . LX1V,

CHRONICLE.

„ >n from (fuiulnl'ij;tr.i to Ameab 5lHt
fi.itm-u-r—. was completed tlurm: the
i(,*,} •iintt til© Government Subsidy Bonos
hi mr SJ two per kilometer) were received
U tM-in* credited to oaustniofciau and
. , ,f llt.tv oiitlpttesl' The payments of
vOMiJ jx*r Idiom©ter h »w also been

if th* Alima and Laguna Extensions
v to i-.su.* bonds. when it requires them,
»,iKW» mile, making allowance for the
Bias Hivision canceled, the funds for the
’ it ,* Branches having been provided Irow
,,f bonds lu the treasury.
.
t lie I
omtnanv obtained from the Government a
In
obligation to complete the Pacific Division, of
rv h ;* ' '.'0f
r»o miles from San Bias had been built in 18H1 and
w h ic
isssi. ' Vjlts nuh a c was included under the mortgage at the
m* it was constructed, and bonds issued on it. I he road
time
(„.ij,. o.w.mted and the concession being canceled, it
w,,s deemed iiroix-r by the directors to substitute new imleiuie for n under the mortgage. Accordingly, in certifying
the new mileage of the Amern and Laguna Extensions, the
Ban Bias Division has been deducted, a release obtained
fs,.m tie Trustee, and the 16*60 miles stricken from the
ipal e< - ion Of til" I ii'mpan\ . H was to
build to the en voi Guanajuato, but owing to engineering
difficulties ill the wav of heavy grades that would have had
to be overcome, railroad construction was stopped at Marti!,
and a tramwav line was constructed from there to Guanaju­
ato In Bsg, under a contract with the Guanajuato i ramwav ibm pm v, the Railway Company sold to it the piece of
tramwav track it had constructed, agreeing to transfer to it
the concession bevornl Martil and also the General Govern­
ment Subsidy of &».50O per kilometer on that portion of the
line. This t ransfer was made, and in 1888 (see report for that
year nas«* Iffi the Railway Company collected and paid over
the Subsidy. The General Government, however, never
approved tin* transaction, claiming the Railway Company
had no right to make the transfer of the concession without
approval, that it was still obligated to build a railroad to
Guanajuato, and that the Subsidy collected on the tramway
constructed between Marfil and Guanajuato should be

and was released from all further obligations in regard to*
the Guanajuato Concession, Marfil being declared the ter­
minus of tlie line.
During the year a narrow gauge road, about 17 miles m
length, was built by* the mining and smelting interest at
Mtipimi, from that town and from the mines, about four
kilometers beyond, to the Mupin si Station on tlie Mexican.
Central, which will be a valuable feeder to our line.
A contract was made in the latter part of the year for
supplying wood and ties on the San Luis Division for a
period of five years. This will require the construction by
the contractor of a narrow-gauge road some forty miles in
ledgth. from San Luis Potosi southeast, which will also
bring to the liue some commercial business.
Results for the year 1896, either from a Mexican Currency
or a United States Currency standpoint, cannot be consid­
ered satisfactory; but the conditions were abnormal, both
in regard to traffic and causes of expense. With normal
crop conditions and with the adjustment of rates now
arranged, it is confidently believed the net results will be
much improved for 1897.
As a result of the large expenditures made m 1896. the
road, equipment and appurtenances were maintained in
first-class condition.
The Comptroller's report following gives the Balance Sheet
and Income Account of the Company in United States
Currency, and other statements pertaining to the opera­
tions.
Respectfully submitted by order of the Board,
A. A. ROBINSON, P resid en t.
INCOME

ACCOUNT

FO R TH E

YEAR

1896.

(TOUTED STATES C U R R E N C Y .)

CREDIT.
B alance trom 1 8 9 5 .......................- ...............
N et E arnings fo r the y e a r .. ..................... 1.841,516 62M lsceilaneous Interest. A ect. for the year. 152,243 86
A ppreciation in M exican Currency Assets
resulting from increased value o f silver.
3 ,6 9 1 52
R eceived from Subsidy Trust Fond, in ao____

^TiSVuatter. which has been in dispute for a long time,
was iinallv arranged with the Government in July of last
Year, by a' contract under which the Company paid to the
Government $2'),0o0 Mexican Currency, in full settlement,

eordanee w it h

te rm s o f T r u s t In d e n tu re .

3 0 0 ,0 0 0 0 0

$ * 2 ,3 1 9 ,2 3 9 19*

CONTRA.

D iscount on sale o f B onds receiv ed from
Government, in settlem ent of^ Transport
tation and T*-legraph accounts. ............ f| M | f ™
Tam pico H arbor Company R e n t a l ........ 125,081 03
34

Debit Balance carried forw ard to 1897.

$ 2 ,4 8 0 .4 6 8 0 7

$161,228 88

G E N ERAL BALANCE SHEET DECEM BER 81, 1896.
(UNITED STATES C U R R E N C Y .)

ASSETS.

'

u pmcat—
t i « ( i u T O 87
To Ueo.ml.rr3l. 1-90 ... .................................®
1 3 9 ,2iq’ aJS ik
and—
4111,602 40

Motion -nfV Deposit rf I r m t Co . Trustee—

Cost
697,000 ft' , Priority bonds
i.urchaM-d for Inve-t't of Subsidy. - - .$6,122,646 37
Balance of Subsidy Trust Fund in their
hands lire, 31, 1-00 .................... 3,260,644 70
Eanco Rational Z> .Merica—
Cost Of - v,0,000, Ml *lcan Cy , of Mexican Govern­
ment bond* purchased with Subsidy money nnd
ili*!.o*tte<l In lieu or an equal amount of Subsidy
CerUilcaU'* h. Id .*.1* a guarantee to the Mexican
<.overnment under the Company's concessions--O-t nr $«.*..000, Mexican Cy.. of Mexican Govemluenl Bond* deposited B» a guarantee to the Mex­
ican Dovernnu ut under various Concessions and
euntnwts.........................................................
l;,... :ncn Harbor Company Bonds—
1*1r*t Morlvaife Tenotnai 5 Bonds of the Tampico
Harter Company recc ved In scuiement of advances
to that Company to Dec. 31, 1893. less amount
iiijeemed and canceled by the operation of the
Sinking Fund, c ostin g ........................................ - .......
Mill* and Accounts Krreitoltlc—.—
.................
Pa ■ Balance* T> t 31, 1806—
Or, band and in Banks........................ $945,552 62
Is train*!! to Boston............
74,28857
Income Account —

Balance to Dec. 31,1896---- ------ ------

, . __
„
9,373,29107

105,700 10
10,090 78

—'01,9 13 07

621,998 37
__
1,019,84119
_______
161,228 88

T o ta l................................................................................. $154,391,100 78
« h; bs: z .— :.s,
G E N E R A L

.......... :

......... ,

E LEC TR IC

C O M P A N Y .

FIFTH ANNUAL REPORT—FOR THE YEAR ENDING
JANUARY 31, 1897.
ScHSNBCTAtiY, N. Y., April 27,1897.
T<1 the. Stockholders of tin- General Electric ' 'iimftnriy :

Tit*; business of your Company has* suffered during the past
yf-ar, in common with that of nil manufacturing enterprises,
from the disturbed financial and political conditions which
have prevailed during a considerable portion of the time.
Tlie** condition*, have curtailed the amount of capital or­
dinarily available for the establishment and extension of
F *•*■•r and id.dii.ing plants, ami have enforced the practice
of great *'-■"<!.,mv mu the part of it-customers. As a result,
th* shrinkage in o r d e r s received by your Company was very

L IA B IL IT IE S .
Capital Stocky......................................................................... $47,909,100 00*
^ F iv e Per'Cent P riority B onds................st!5’S2Z'222 22
Consolidated M ortgage i% B o n d s ..... 58,908,000 00
First M ortgage B onds, n ot converted
into Consolidated M ortgage B o n d s..
544,000 00
F irst M ortgage Bond Scrip, exchangeable into F irst M ortgage B onds.
.
12,012 50
Ten Per Cent C oupon Notes (ceased to
bear interest A pril 16, 18 89)............
200 00
Ten Per Cent Coupon Note Scrip, exchangeable into Coupon N o t e s .........
o00 0
F irst Consolidated Incom e B o n d s ..... 1 . ,21o,000 00
F irst Consolidated Incom e B ond Scrip,
exchangeable into First C onsole
'
dated lucerne B o n d s .............. .
67,400 ou
Re eon d Consolidated Incom e B o n d s ... 11,235,000 00
Registered Incom e Bonds and S crip ..
467,200 00

94,046,312 5 0

Coupons and A ecrucd Inheres*Oomi'-ns overdue, not presented.........
$21,700 00
Coupons due Jan 1 ,1 8 9 7 ....... 1,189,300 00
A ccrued Interest to A pr. 16 ,188 9, on
outstanding Coupon Not. s and Scrip
20 44

1inwM
1,211,020 4 4

Notes P a y a b le ............ ................. . . . . . . i v
Vouchers. Pay-rolls and Accounts Payable—
Including w ages and Salaries fo r the m onth o f Deo,
M exican Government Subsidy P roceed s...........................
b a l a n c e o f am ount set aside to replace condem ned
and destroyed ecpilpment........ - ...................................

1,000,000 00
J24.438 14
9 ,4 7 9 ,9 9 6 1 7
31,233 03

........................................................ ....................................$154,391,100 78

marked, especially during the latter half of the year. This
shrinkage ts not shown by a material falling off in ship­
ments as given in the Profit and Loss Statement on page 80 O
but the amount of work in progress and unfilled orders on
hand is considerably less than a year ago.
YVith a return to normal commercial conditions, a cor­
responding revival in the business of your Company may be
expected. The volume of business secured by it for the first
three months of the current year is slightly in excess of
that for the same period in either of tlie three previous years.
On January 31. 1895, the sum of $2,000,000 was set aside,
as shown in tile Annual Report of that year, to provide for
shrinkage in assets, exact values of which it was then ex­
tremely difficult to fix. During the past year your Direct­
ors have been able to value these items with substantial,
accuracy, and the $3 ,000,000 fund has been found sufficient
I and lias'been used to provide for the proper adjustment ot
all accounts and other assets for which it was created.

THE CHRONICLE.

Ma t 1, 1897.]

849

e tc ,; and sundries (fittings and other small property ac­
counts) of the Factories at Schenectady, New York ; Lynn,
Massachusetts ; and Harrison, New Jersey.
The lands amount to over 72 acres and the total factory
D e d u c t:
floor space of all buildings is approximately 1,416,000 square
Interest on Debentures*................................ $431,250 00
Less interest and discount, and interest
feet.
and dividends received on securities
All are free from mortgage or other lien.
ow n ed .............................................................. 370,479 70
These Plants, being a permanent investment, all expendi­
60,770 30
tures for their maintenance and repair, plus an allowance to
$1,552,236 92
provide
against depreciation, are charged to operating ex­
Deduot A m ounts w ritten o f f :
penses.
Sundry losses and allow ances fo r possible
losses............................................................... $3 18,5 3 1 1 3
Their book value at the date o f the last Annual Report was
Patents .............................................................. 349,919 20
$3,468,002 00. The amount written off during the fiscal year
Inventories and Consignm ents.................... 61,084 36
for depreciation, over and above the total cost of all main­
$729,534 69
tenance, repairs and additions, was $68,000 00 leaving the
L ess:
book value of Factory Plants at January 31,1897, $3,400,002 00,
P rofit on securities sold and debentures
A summary of the changes in this account during the
canoeled.......................................................... 136,955 85
-----------------592,578 84 past year is as follows :
Gross Earnings
Less E xpen ses.

BUSINESS OF TH E Y E A R .
.................................. ..$ 12,820,395 87
..................................... 11,207,388 65
----------------------- $1,613,007 22

R eduction o f the deficit o f previous years.................

$959,658 08

Additional purchases of your company’s debenture bonds
have been made during the year to the amount of $750,000,
leaving now outstanding $8,000,000. A ll debentures pur­
chased have been canceled.
The decrease in the amount of interest and dividends re­
ceived, as compared with the previous year, is due largely
to the cessation of dividends by the Canadian Company,
which it is hoped will soon resume dividends on its reduced
capital. As a partial offset there has been an increase in
the income derived by your company from dividends on
stocks held by it in various local companies.

Book Value
Jan. 31, 1896.
R eal E state.$1,800,000 00
M achinery... 1,668,000 00
P atterns.......
1 00
S undries!
1 00

Cost o f
Written off f o r Book Value
additions, depreciation. Jan. 31,1897.
$92,092 45* $97,092 45 $1,795,000 00
205,321 90
268,321 90
1,605,000 00
47,794 34
47,794 34
1 00
34,361 68
34,361 68
1 00

T o t a ls ....$3,468,002 00 $379,570 37

$447,570 37 $3,400,002 00

B ook V alu e o f E ach P lan t.
Jan. 3 1 , 1 8 9 6 .
Jan. 31, 1897
Schenectady F a ctory ...................................... $2,135,000 90 $2,157,000 90
Lynn
"
1,038,000 80
993.000 80
Harrison
“
295,000 30
250.000 30

Totals.

$3,468,002 00

$3,400,002 00

PATENT LICENSES AND PATENT LITIG A TIO N .

In the last Annual Report attention was called to an ar­
rangement which had then been concluded with the Westinghouse Electric & Manufacturing Company for an ex­
change of licenses under patents owned and controlled by
the two companies. Your directors are pleased to report
that the result of this arrangement has been highly satisfac­
tory.
The result of the work of your company in protecting its
patents and enjoining infringers thereof has been especially
encouraging, and a considerable number of patents of value
has been acquired by it during the year.
The Courts have invariably recognized the validity and
controlling importance of the Van DePoele patents on the
electric railway trolley and switch system, and at the pres­
ent lime substantially all manufacturers o f infringing trol­
leys and switches are under injunction. The company has
met with no reverses in its patent litigation during the past
year.
Many new suits have been brought, involving important
patents, and are now being actively pushed.
SALES, FIN AN C IA L AND M AN UFACTU RIN G DEPARTM ENTS.

Attention is called to the reports o f the First, Second and
Third Vice-Presidents, containing much valuable informa­
tion with respect to their various departments.
The great improvements made by your Company during
the past year in the design and construction of its appara­
tus nave been very satisfactory. The development in long­
distance transmission of electricity and the progress made
in electric railway service have been especially noteworthy.
Many new enterprises, involving the application o f elec­
tricity to railways now operated by steam, are under consid­
eration, and the ensuing year promises to be marked by a
very rapid growth in that field of work.
Your Company has added one large factory of brick and
steel construction to its plant in Schenectady during the
year, besides completing and occupying another which was
commenced in 1895. Other important improvements at
these works are in preparation designed to add to the facil­
ity and economy of handling their output.
By order of the Board o f Directors.
C. A. COFFIN, President.
REPORT OF 2D VICE-PRESIDENT.
SCHNECTADY, N. Y ., April 27, 1897.
C. A. Coffin. Esq., President General Ebctric Company.
Sir —The Balance Sheet and Statement o f Profit and Loss,
herewith transmitted, include the assets and liabilities and
profit and loss accounts of the Edison General Electric,
Edison Electric Light and Thomson-Houston Electric Com­
panies (which, for convenience of book-keeping, are consoli­
dated with those of the General Electric Company) at Janu­
ary 31, 1897; and when “ the Company” is spoken of, all the
above-mentioned corporations are included.
I submit explanations of what each item on the Balance
Sheet represents.
ASSETS.
PATENTS AND FRANCHISES.

During the year there was expended for acquiring new
patents and patent litigation. §349,919 20, all of which has
been written off to Profit and Loss; leaving the patents,
franchises, good will, etc., o f the Company standing un­
changed at §8,000,100.
FACTORY PLANTS.

R E A L ESTATE.
(OTH ER THAN F A C T O R Y PLAN TS.)

This account represents the investment in the Edison
Building, 44 Broad Street, New York City, also a large
building covering five lots on the corner of Avenue B and
17th Street, New York City, and sundry parcels of land in
various places, mostly improved and rented, which have
been acquired at various times, chiefly in payment of debts.
All will be sold when opportunity offers.
STOCKS AND BONDS.

Schedule A [in pamphlet report] contains a list of nearly
all the Company’s stocks and bonds which are carried at
more than merely nominal values.
Those having a market value are carried at slightly under
the price of recent sales The book value of those not readily
salable has been fixed after careful examination of their
present worth.
I b e lie v e t h a t t h e ir a c t u a l p r e s e n t v a lu e is e q u a l t o t h e a g ­
gregate at which they stand in the B alance S heet,viz.... $8,545,660 68
In addition, the Com pany owns various m iscellaneous
securities o f mauy m anufacturing, selling and patent
owning corporations, and also o f street railw ay and
lighting com panies. As the present value of these is
doubtful and their future value speculative, they are
carried at one dollar fo r each lot, m aking in a ll............
135 00
Total book value o f all Stoeks and B on d s...................$8,545,795 68
The book value o f Stocks aud Bonds in the last A nnnal
R eport w as............................................................................... 5,479,332 23
I n c r e a s e ................- ..........................................................$3,060,463 45

Although some securities have been purchased for cash
most of those acquired during the year have beeh accepted
in payment o f ola indebtedness.
The principal items o f the above increase are :
P a r v a lu e.
Edison Electric Co. o f New Orleans, received in E x ­
change for the claim against the receivers of the F ort
Wayne E lectric Co., and fo r cash advanced to the E di­
son Electric Co. to purchase the Louisiana E lectric
Light Co. and build a large new ceutral light and
p ow er station— First M ortgage B onds............................. $891,000 00
Preferred Stock........................................ 1,980,000 00
Common S tock.......................................... 1,0U0,000 00
Baltimore & Ohio RR. Co.’s R eceivers’ Certificates, re­
ceived in paym ent o f balance due for electric plant
and electric locom otives for its tunnel under the city
of B altim ore.............................................................. - ............
323,000 00
Bonds of the City o f Jacksonville, Fla., received in part
n a y m en tof aligh tin g plant................................................
58,000 00
Sacramento E lectric Pow er & Light Co., received In part
paym ent o f a c on tra ct..........................................................
44,000 00
Bonds of the Brush E lectric Co. (the entire issue out­
standing), received in paym ent of note* and purchased
for cash....................................................................................
369,000 00
Bonds o f the Columbus R R . Co., Columbus, Georgia, re­
ceived in paym ent o f claim against Brush E. L. & P.
Co. o f Colum bus.....................................................................
50,000 00
Preferred stock o f the United E lectric Securities Co.
bought for cash........................................................ . .......
74,200 00
Bonds of the Citizens’ General E lectric Co. of Louisville,
____
Ky., purchased.......................................................................
94,000 00
Bonds o f the Tacom a Ry. & M otor Co. purchased under
old contracts with the United E lectric Securities C o...
231,000 00
Bonds o f the Augusta Ry. A E lectric Co. received in
exchange for claims against Thom son-Houston E lec­
tric Co. of Augusta, (Georgia...............................................
41,000 00
Stocks and Bonds received from Licensees in paym ent
of roy alties..............................................................................
119,750 00
$5,274,950 00
* Includes $67,250, cost o f building a new erecting and testing shop

This account represents the real estate (lands and build 92x350 feet, with an annex 60x80 feet, at Schenectady.
ings); machinery, tools, appliances, etc. ; patterns, drawings, . t Includes olHce furniture and iixtures, horses and trucks, shop fix­
*On $8,750,000 for ten months and on $8,000,000 for tw o months.

tures, bencln^, steam fitting for heating system, sprinkler system for
fire protection, electric w iring o f buildings, etc., etc.

1BE

860

CHRONICLE.

[VOL. LX IV.

L IA B IL IT IE S .
b u t or Brocs* jucib Hose*.
Tear
has
not
been
favorable
to
the
established
The
Company
has
no
Notes Payable, nor is any paper
Toe pl— ■— -----.......................,
r*3licr of wiling securities which there i# no special reason bearing the Company’s endorsement or guaranty under
for holding permanently, and but few have been sold since discount.
DEBENTURES.
the last Annual Report.
***aJl«** »k o » par w
m
were *oW for......... . $285,820 56
During the year the Company has purchased and can­
T t r v w tU eareteS on the b o o k s a l................................ .
20tMH2 80
celed §750,000 of its own Debentures at an average cost of
.............................................................................................. $79.816 76 92-88 per cent.
ACCRUED INTEREST ON DEBENTURES.
The cash thus received was used toward the purchase of
securities mentioned cm the preceding page.
This account, as its name implies, is the full amount of
interest accrued to January 81, 1897, on the Company’s
CASH.
The policy of the previous two years has been adhered to §8,000,000 outstanding five per cent gold coupon Debentures.
and hales maintained on a basis of cash, or short credit to
ACCOUNTS P A Y A B L E .
• .•
This
account
includes
all unpaid audited indebtedness.
it has not been necessary to borrow money, nor has the
At the close of business on January 81, 1897, the unpaid
Company's credit been used during the year either by issu­ vouchers
hand amounted to only $40,155 82, and none of
ing not«i, endorsing customers' paper for discount or lend­ these wason
due under the terms of purchase.
ing it* name in any way.
The difference between that amount and the amount of
During the year all purchases have been paid for in cash.
None of the money realized from the sale of assets was Accounts Payable shown in the Balance Sheet, §402,284 81,
required for the current business of the Company during the represents expenditures belonging to the year, vouchered
between January 31 and February 23, the date of closing the
year.
general books. The amount of vouchers which has to be
NOTES A N D ACCOUNTS R ECEIVABLE.
carried over in this way monthly, owing to keeping the
These accounts represent .the total amount now due the books—other than the cash book—open a sufficient time to
O jiit im a v bv c u s t o m e r s .
include expenditures of a particular month in that month,
Tie V appear in the balance sheet at an estimated realiza­ is usually about §500,000.
ble value (i. v their face, less allowance for possible losses)
M ORTG AG E ON EDISON BU ILD ING .
which I believe to be a fair one.
They may be classified approximately as follows:
A mortgage was created when the Company’s Building,
No. 44 Broad Street, New York City, was erected. It was
Notre Value*. Face Values.
paid off in full February 26, 1897.
Current N o t e s ..................... $1,1118,715 81
Respectfully submitted,
Current A cco u n t* ............... 2.001,773 96
--------------- - — $4,098,489 77
J. P. O r d ,
Blow N o te s...........................
766,974 05
Second Vice-President.
Plow A ccount*......................
207,188 18
— ------ ------- -974,162 21
----- $5,072,651 98
Due from local Lighting and Street R ailw ay properties
o-.vnrU by tbe Com pany.......... ................................- ........
217,700 92
Imv from the Brush Electric Co............................................
194,516 85

$5,484,869 75

Total lace value*

Collection of the old indebtedness remaining from pre­
vious years lias been as satisfactory as was possible under
the financial conditions of the year.
W ORK IN PROGRESS

This account does not include anything in process of
manufacture; but represents expenditures for labor, mate­
rial. etc.. otx 191 installations of manufactured apparatus
itcUreriM .it various places........................................................ $900,807 52

Lr«» !•

payment* thereon, received under the terms

of the contract* a» work progressed.................................... 38 2,94 122
Bala - C f................................................................. ...................$517,866 30

None of the estimated profit to be derived from these
installations is included in the earnings of the year, and no
allowance is made thereon for possible loss.
INVENTORIES.

7 h a c c o u n t s represent raw materials and goods manu­
factured and in process of manufacture at the factories;
manufactured goods in storerooms of local offices and on
coiihigmncnt; office furniture, fixtures, instruments, &c..
in the general office and in local offices; tools and materials
in local repair shops ; and also shipments in transit to local
storerooms.
A 11 have been counted and valued item by item.
Raw materials have been valued at the market prices
prevailing on January 31, 1807; active-selling finished and
partly-finished apparatus and supplies at factory cost; in­
active or slow-selling apparatus and supplies at about 50 per
vent, of factory cost : obsolete apparatus and supplies at scrap
value: and t o o ls , instruments, furniture, &c-., at present
value.
Tb>- inventories of the factories showed an excess over
book value of *141.184 ft*, which is not taken as a part of the
ye ar's profit hut is retained as a reserve.
A-l other Inventories showed a shrinkage from book value
of
vi 8-5, which lias been written off as a loss for the
year.
As goods are taken in and out of local office inventories
at factory cost, at the time being, the bulk of the above
. ill.- lo factory costs at January 31, 1897, being
lower than at January 81, 1890; and the remainder to wrifcir.g down th.- book value of slow-selling apparatus and other
personal property.
CONSIGNMENTS.

finished apparatus for novel uses lias been delivered to
Tarim,., com<-rn«, subject to purchase if its operation is succ.-cii). Th.- greater part of this account represents such
contingent sole*, and the remainder represents apparatus on
w i ; , o r l<*med to regular customers for temporary use
Ail t s h o v e apparatus I* charged, at fa ctory cost, to this

wwml *t a total of ..................

*7 a TOOan

aikm m tc* tor d epredation.......... .........35*977 15
Hirt tw&k *•

* o f ronulgment*....... ............... .................... $ 37,752 65

Owing to absence in Europe of the First and Third VicePresidents, their annual statements cannot be prepared in
time to accompany this Report,which is sent out in advance
of the annual meeting of Stockholders.
Complete copies of the Report, with their statements ap­
pended, will be sent out in due course.
CONSOLIDATED B A LA N C E SHEET OF J A N U A R Y 31, 1897.
Assets.
P a t e n t s a n d F r a n c h i s e s ...............................................................

F a c t o r y P la n t s .
R e a l E s t a t e (other than fa cto ry p la n ts ):
Edison Building, New Y ork C ity......... $412,584 63
Other Real E state....................................
230,431 61
Stocks an d B onds ....................................
N o t e s and A ccounts r e c e i v a b l e ___
W o r k in P r o g r e s s .............................................

$ 8 ,0 0 0 ,0 0 0 0 0

3,400,002 0 0
643,016 24

8,545,795 68
703,483 8 4
4 ,5 7 8 ,6 0 0 9 6
5 1 7 ,8 6 6 3 0

5,096,467 26
I nventories :
F actories......................... .$3,375,511 07
Gen’l and L oca l Offices.
621,489 32
Consignm ent*....... ..........
37,752 65 4,034,753 04
P r o f it and L oss ....................................

9,131,220 3 0
12,957,413 40
$43,380,931 46

Liabilities.

Ca p it a l S tock ;
Com m on......................... ...........................$30,460,000 00
Preferred................................................... 4,252,000 00 $34,712,000 00
5% G old Coupon D eb e n tu r e s ............
A c c r u e d I n t e r e s t o n D e b e n t u r e s ..

A ccounts P a y a b l e ..................................

M o r t g a g e o n E d i s o n B u i l d i n g .............

66,666 6 5
4 0 2 ,2 6 4 8 1

200,000 00*

8,000,000 00
668,931 4 6
$431380,931

46

* Paid off February 2 6 ,1 8 9 7 .
CONSOLIDATED P R O FIT A N D LOSS ACCOUNT OF JAN. 31, 1897.
Expenses.
Balance January 3 1 ,1 8 9 6 .................................................... $13,917,071 48
Cost o f Goods S old .....................................$9,691,501 12
General E xpenses and T axes................... 1,515,887 53
11,207,388 65
Interest on D ebentures.............................
431,250 00
Sundry Losses an dA llow anoes fo r Losses
318,531 13
D epreciation o f In ven tories.....................
50,354 85
“ C onsignm ents................
10,729 51
379,615 4 9
Patents and Patent E xpenses.
840,919 20
$26,285,244 82
E arnings.
Sales.................. ................ ..........................$12,540,993 88
Royalties and Sundry P rofits...................
279,401 99
D ividends and Interest received on
Stocks and Bonds ow ned........................
Interest and D iscoun t...............................
Profit ou Sales o f Stocks and B onds.......
Discount, on Debentures P urchased and
Canceled..
Balance January 3 1 ,1 8 9 7 ..

$12,820,305 87
$282,143 69
88,336 01
$79,816 7 6
57,139 09

370,479 70

136,985 85
12,957,413 40
$26,285,244 82

Ta addition there .IT. old notes and accounts Ti‘ ,'c!viililf. Of 4 0 *

.W
P aS
" t^the4*’**7
,
r,
tm U
m eT
x ee p
nominal
bonk value o f one dollar fo r eanh
or They arc 11010* liquidated a* rapidly as possible.

E. & 0 , E.
J. P. ORD, Second Vice-President.

THE CHRONICLE.

Ma y 1, 1897.)

851
C O T T O N .

I fh c <&atttttierciat

F r i d a y Night, April 30, 1897.
T h e M o v e m e n t o p t h e C r o p , as indicated by our telegrams

from the South to-night, is given below. For the week ending
this evening the total receipts have reached 34,588 bales,
Friday Night, April 80, 1897.
against 47,260 bales last week and 48,795 bales the previous
The observance of a holiday on Tuesday interrupted busi­ week, making the total receipts since the 1st of Sept., 1896,
ness to a limited extent during the past week. The interest 6,438,396 bales, against 5,015,451 bales for the same period of
shown in the war situation at the Far East has been less 1895-6, showing an increase since Sep.l, 1896, of 1,472,945 bales.
keen, as advices receive,! indicate that the Powers are pre­
Receipts at—
Mon.
Sat.
Tue$.
Wed. Thur$.
Fri.
Total.
paring to intervene between Turkey and Greece. The agita­
G
alveston.........
31
1,100
725
278
114
382
2,630
tion over the proposed new tariff bill has again become the
Tex. City, Ao.
134
134
dominant factor in the business world. The advices received
546 2,131 2,733 12,062
from Washington have been of a very conflicting nature Sew O rlean s... 1,124 1,266 4,262
M obile...............
268
938
11
282
281
206
1,986
relative to the progress of the bill In the Senate Finance Com
17
17
mittee, and the general impression has appeared to be grow­
332 1,147
342
915
980
718
4,434
ing that the bill signed by the President will be a very differ­ Savannah _____
Brnnsw’k, Ac. ........
.........
......
......
......
4,103
4,103
ent measure from that passed bv the House of Represents
272 2,243
386
141
781
6
3,829
tives. An export movement of gold has attracted some Obarleeton.......
Pt. Royal, &c.
attention, and it is thought probable that an export movement
6
during the summer cannot be avoided; thus far, however, it W ilm ington___
6
14
1
21
48
W aeh’ton, Ao. ...
has had comparatively little influence, due largely to the full
......
......
.....
......
250
reserve held by the Treasury and the belief that the banks N orfolk..............
458
496
446
2,638
253
735
from their large holdings would recoup the Treasury should Newport N.,&o. ___ _
......
104
104
......
......
......
the movement become formidable.
76
121
45
Lard on the spot has been quiet, as demand from both B oston ..............
290
1,478
109
364
81
178
456
shippers and refiners has been slow and prices have weak­ B altim ore.........
592
592
ened. The close, however, was steady at 4-37J^c. for prime Phlladelph’a.Ac
129
412
68
198
17
Western, 3’90c. for prime City and 4'60c. for refined for the
Continent. The local market for lard futures continued T ot’la this week 2,649 7,390 6,349 3,384 4,978 9,838 34,588
neglected. A t the West the trading was quiet and prices
The following shows the w e e k ’s total receipts, the total since
have weakened slightly in sympathy with the depression in Sept. 1,1896, and the stock co-mgnt, compared with last year.
the grain markets. The close was quiet but steady.
1896-97.
1895*96.
Stock.
Receipts to
DAILY OLOSIKQ PBI088 OF LARD FUTURES.

COM M ERCIAL

B a t.

M ay................................0. 4-50

E P ITO M E

M on.

T -n t t .

W ed.

4-45

H oi.

4 35

A p ril 30.

This Since Sep.
Week. 1, 1896.

This Since Sep.
Week. 1, 1895.

G alveston...
T ex. 0 .,A o.
New Orleans
M obile..........
S avannah...
Br’ wlok, Ac
C harleston..
P.Royal.Ao
Wilmington.
Wash’n.Ao.
N orfolk ........
N’portN .,A o.
New Y o rk ...
Boston. ......
B altim ore...
PbUariel.,Ae.

2,630 1,333,347
134 109.090
12,062 1,995.518
1,986 285,373
84,590
17
4.434 817,521
4,103 168,875
3,829 390.803
65.832
48 234.123
857
2,838 687,541
16,452
104
121
47,927
1,478 150,917
60,070
592
412
39,560

6,895 906,320
489 110,651
11,560 1,679,863
2,308 193,482
32,470
8.585 725,731
549 114,630
395 275.010
75,286
773 164,787
2
767
3,352 317,214
1,402 164,738
99
52,748
2,460 114,406
387
46,923
572
40,425

T o ta ls .......

34.588 6,488,398

39,828 5,015.451

Ih u r . F r\.

4-35 4-45

Pork has had only a limited sale, but prices have been
without change, closing steady at $9@9 50 for mess, $9 50
@10 50 for family and $9 50@10 50 for short clear. Cut
meats have continued in fair demand for pickled bellies at
firm prices; other meats have been quiet, closing at 5J^@5%c.
forpickled bellies, 12-celOlbs. average, 5c. for pickled shoulders
and 9@9J4c. for pickled hams. Beef has had a slow sale
and values have been easy, closing at $7@8 for mess,
$8@9 for packet, $9@10 for family and $12$ 14
for extra India mess.
Beef hams have further ad­
vanced, closing at $21. Tallow had an active sale
early in the week aud the close was firm at 3t6@3 3 16c. Oleo
stearine has been quiet but steady at 4J^@4%o. Lard
stearine has advanced and the close was firm at 51^0. for
prime City. Cotton-seed oil was in demand early in the week
aDd prices further advanced, closing firm at 20>£@21c. for
prime crude and 24J£c. for prime yellow. Butter has had a
fair sale at firm prices, closing at ll@17c. for creamery.
Cheese has been in fairly good demand at firm prices at
9% @ llc. for State factory full cream. Fresh eggs have
advanced for choice and the close was steady at 10@10t^c.
for Western.
The Brazil grades of coffee have had only a limited sale,
but there has been no pressure to sell and prices have ad­
vanced, closing steady at 7J£c. for Rio No. 7. Mild grades
have sold rather slowly and prices have ruled easy, closing at
14c. for good Cuouta and 25c. for standard Java. Che trading
in the market for ooutracts has been quiet, but in resjonse
to stronger foreign advices and some talk o f an import duty
prices have advanced, closing firm and higher. The net
advance for the week is 35@45 points.
The following were the final asking prices •
M a y . . . . . . . . ...
7-SPo. |A u g ....... 7-70o. I N o t . . . ....... . 7'SOo.
Ju n e ................7'80o. Sept ............... 7'"5c. Deo................ 7'85o.
J u ly --7-aOo. I O ct ....................... 7-80o. 1
The demand for raw sugars h»B been quiet,but prices have
held about steady, closing at 8J£c. for centrifugal 96-deg. test
and 2%@2 13 16c. for muscovado 89-deg. test. Refined sugars
have been quiet and unchanged ; granulated closed at 4J£c.
Teas have beeD quiet but steady
The demand for Kentucky tobacco has continued slow,
but values have held steady. Sales 125 hhds. Seed leaf
tobacco has sold slowly, awaiting tariff developments, but
values have held steady. Sales for the week were 745 cases,
as follows: 200 cases 1895 crop. New England Havana, 16
@25c.; 150 cases 1895 crop, Pennsylvania Havana, 13c.; 140
cases 1895 crop, New England seed leaf, 14c., and 250 cases
sundries, 5@15c.; al30 850 bales Havana at 75c. to $1 In in
bond and 225 bales Sumatra at 75c. to $2 10 in bond.
Business in the market for Straits tin has been rather
quiet, but values have held fairly steady, closing at 13'25@
13'30c. Ingot copper has sold slowly and prices have weak­
ened slightly, closing at
for Lake. The demand
for lead has been quiet and prices have declined, closing at
3'25<a3'30c. for domestic. Spelter has been dull but about
steady, closing at 4-10 ■4'15c. for domestic. Pig iron has
been dull and weak at $10 $12 50 for domestic.
Refilled petroleum has ueen quiet, closing ai 6-05c. in bbls.,
3-55c. in bulk and 6‘50c. in cases; naphtha dull at 8c. Crude
certificates have been neglected. Credit balances have been
lowered t-< 81c. Spirits turpentine hat advanced, closing at a
reaction from top prices at 31c. Resin his been dud aud un­
changed at $1 65 for common and good strained. Wool has
been firm but quiet. Hops have continued quiet and easy.

1897.

1896

54,777
5,253
131,413
14,782

31,565
834
149,074
13,296

24,131
133
23,963

30,871
2.800
17,425

5,659

4,740

15,027
202,433
10,000
11,809
7,433

18,653
1,140
133,510
15,000
10,625
7,325

506,813

436,858

In order that comparison may be made with other years, we
give below the totals at leading ports for six seasons.
1894

1893.

Htceipts at—

1897.

1896.

1895

Galves’n Ao,
New Orleans
M o b ile .........
sav a n n a h ...
Ubae’ton, Ac
WUm’ton,<fec
N orfolk .......
N. News, Ao.
i l l o th ers...

2,764
12,062
1,986
4,434
3,829
48
2,638
104
6,723

7,384
11,560
2,308
8,585
395
775
3,352
1,402
4.067

3,674
21,688
1,188
4,946
2.199
154
2,859
1,491
18,738

2,772
11,826
737
3,827
3,333
104
3,965
1,550
8,201

5,210
8,457
1,550
4,825
1.280
187
3,178
754
5,527

1892.
4,715
17,230
2,373
6,949
2,205
506
2,848
4,639
9,406

lo t. this wk.

34,533

39,828

56,937

33,823

30,968

60,870

Since Sept. 1 6488.396 5015,451 7645,366 5720,242 4791,386 6795,025

The exports for the week ending this evening reach a total
66,410 bales, of which 22 3 i7 were to Great Britain, 15,832
to Pranoe and 38 211 to the rest of the Continent. Below are
the exports for the w ek and since September 1, 1896.
of

tTeek Brunov Apr. 3 0 . 1 8 8 7 . From Stpt 1 , 1 8 8 8 , t o Apr. 3 0 . 1 8 9 7 .
Exported to—____________
Exported to—
Great
Conti­
Conti­ Tot u Great
T o ta i
Brit'n. Franct nent. Week. Britain. France nent.

from—
G a lv e s to n .

7 .88 M

..

l e x . C it y , A c .
'J a w O r l e a n s .

J,70»*
124

1 1 .5 7 0

9 .6 4 6

.......

M o b i l e ..............................................

7 2 5 .6 0 3 1 8 8 .4 7 0

2 7 5 ,2 4 5 1 ,1 8 9 . 3 1 8

8 0 0 ,4 1 5 4 1 4 ,1 9 1

5 8 4 ,0 5 5 1 ,7 9 8 ,6 6 1

2 1 .6 6 7

124
1 8 ,5 7 0

7 ,0 0 0

1 3 8 ,1 5 3

3 0 ,1 6 8

6 3 ,7 4 9

2 1 .6 6 7

1 6 8 ,3 2 1

6 .4 8 8

69J 287

4 .0 5 0

4 8 ,2 6 3

3 6 1 .1 ^ 9

4 2 4 ,8 0 3

3 ,5 1 1

99 223

2 1 ,7 9 9

1 2 1 .0 1 2

C h a r le s t o n ..

7 8 ,3 2 2

1 8 7 ,0 1 1

2 6 5 ,3 3 1

P ort R oyal .

6 3 .-5 0

W H m ln jr t o n .

9 5 .4 3 1

1 1 1 ,3 6 3

2 0 6 ,7 9 4
1 9 0 .6 2 7

F l o r i d a ..............
4 ,0 5 0

Savan nah ...
B r u n s w ic k .

3 ,6 1 1

Y o r k ...

B e a t o n ..........
B a lt i m o r e ....
P h ila d e lp h ia ..

T o ta l . . .

6 .2 0 0

4 1 ,8 9 0
200

1 0 .6 0 5

2 6 ,6 5 8

1 9 6 .6 1 1

6 0 4 ,6 6 5

2 ,1 0 1

2 2 5 ,8 9 2

8 ,1 9 7

6 2 ,3 7 0

1 4 9 ,0 3 5

1 ,3 1 6

1 ,3 1 5

1 4 3 ,5 3 7

1 5 .1 9 8

2 0 .0 0 0

2 8 1 .3 9 6

100

2 ,t 5 7

2 2 1 ,7 3 1

600

4 ,0 2 1

6 ,2 1 4

7 8 ,4 6 -

198

9 .2 9 0

450

9 .7 4 0

1 ,7 2 5

2 ,9 9 8

5 4 .7 7 0

6 7 ,7 6 8

1 0 ,3 0 5
4

308

2 ,0 5 693
L9S

8 . F r a n ., A c . . . .

T o t a l , 1 8 0 5 -0 0 .

6 3 ,8 6 0

494

N o r fo lk ....
N ’ p o r t N ., A c .
N ew

1 5 ,3 4 1

1 .7 2 5
2 2 ,3 3 7

1 5 .8 3 2

2 8 ,2 4 1

6 6 .4 1 0 2 ,8 6 2 .7 3 4 6 5 8 , 0 5 7 1 ,9 5 6 .4 3 7 5 . 4 7 7 , 2 2 8

4 3 ,4 5 9

703

2 1 ,4 5 0

6 5 . 6 1 2 2 .0 4 5 .4 0 9 4 4 7 ,6 1 6 1 . 6 7 5 3 2 3 4 .1 6 8 . 3 4 8

TH E

b h 'l
In

.uiov<- exports, our toiegrums to-night also
,ving * nouns- of cotton on shipboard,
not
---- *
»

s d flitt

t t l T i l#

CH RONICLE

IU U O n iU K • lU M tU M K ) "»* V V V * M »

eUs&i&l, at tho porL$

o n siu rn o .R O

cuMJkBD r o a —

not

O&attwise.

Other
Bbrttgn

&rmi
Briktin.

Leaving
, tlock.

Total.

Non**.
4.000
1,900
7.000
4.000

i,t m
3,05*
None.
Suno.
Roue,
Non*
800
Nona.

31,7*5
3,292
3.000
4,100
6,800
1.000
8.000
2,6 00’

943
3,088
None.
1.500
None.
5,600
N» nc.
Nouc.

41,188
17,417
3,000
5,800
10,500
7,700
13,800
6,500

Total 1 8 9 7 ... - 14,414

9.125

61,137

11.029

105,705

401,108

4,480 32,548
6.125 33,002

4,322
13.332

70,803
81.233

366,055
587,532

Rew York........
OUmst port*. . . .

T on a 18 96...
Toiai x m s , , .

S29'
7,385

20,455
28,774

Speculation in cotton for future delivery has been fairly
*c tsve and prices for this crop have scored a considerable
advance, as the strength of the statistical position has
induced buying for investment account; prices for the next
crop have als * made some’ lung of an advance in sympathy.
Saturday there was a firmer market. There was an in­
creased demand in the spot market, both from spinners and
Shippers; there was also a foreign demand for futures, and
this, together with buying for local aocount, resulted in an
advance of 5 to 0 points for the day. Monday there was a
fairlv active speculation. The strength of the statistical
position here and abroad was beginning to receive increased
attention, and as advices from the Far East indicated
an early termination of the existing war, there was
fair buying for inves'meot account by local opt rators stimulated in part by buying by the South
and Euro a. The olose was at an advance of
11 to 13 points on this crop and 8 to 7 points on the next.
Tues lav was a holiday. Wednesday there was a further ad­
vance in values. Shippers were buyers in the spot market
and there was a demand from the South for futures. The
weekly report of the Government’s weather bureau reported
unsatisfactory conditions for planting, and this, too, had a
strengthening influence upon values. The close was 11 to
13 points higher on this orop and 1 to 7 points higher on the
next crop Thursday there was a somewhat unsettled and
iriegular market. Early in the day pric s improved. Sub­
sequently, however, underselling to realize profits the mar­
ket weakened. Towards the close there was renewed buying
and final prices were liq4 points lower to 1 @ 6 points higher
f r the day. To-day the market was weaker during early
'Charge under realizing sales prompted by disappointing
f r, ign advices. Later in the day, however, the selling sub­
sided, and on general buying prices advanced sharply, clos­
ing very steady at an advance of 4@8 points for the day.
Cotton on the spot has been in fairly active demand both
from spinners and shippers, and prices advanced 1-16c. on
Saturday, t#c, on Monday and 1 -lGc. on Wednesday. To-day
the market was steady and l-16e. higher, closing at Iffjts. for
middling uplands.
The total sales for forward delivery for the week are
611,001) bales. For immediate delivery the total sales foot
up this week 13,868 bales, including 8,232 for export, 4,736
for consumption,----- for speculation and 4«>0 on contract.
The following are the official quotations for each day of the
past week—April 24 to April 30.
On the basis of the rates on and off middling as established
by the Revision Committee, the prices for a few of the
grades would be as follows;
UPLANDS.

N at.

Good O rd in a ry ..........................
Low Middling..............................
M iddling.........................
<*.Rw>l Middling............................
Mld4UM Fair............. ................

G8i
7>s
7*.

GULF.

liKou T u e * W e d
6®8
7M
7»8

0 ''l 6

>>
S3
*d
a
o
a

Tdi

8Jg

8kt

Nat,

W on r u e . W ed

Good O rd in a ry ........................ " 6%
Low M iddling............................ 7%
......... ...
Middling
7%
Good Mfddllng............. ............ .
iii8
Middling Fair........ ..............
STAINED,

S a t.

Low Middling..............................
Middling .....................................
tltrlei mmAting.
.
.......
OopdMMdUtHt rinic*>1. ..........

7'8
7V*5
74a

M A R KET

6’ a
74*
T7e

8»i«

sk*

6%
7H

I ll,

rn.

Uotlday.

Sr19
7 5ip
718,,
7H!,.

Th.
61,g
S fl15
7l8,2
7 U i«

SA LE S.

RFQT A N D CO N TR AC T.

SPO T MARK XT

S a

-farp o rt.

I O on| su m p

S pecuV V n

C o n ­
tract.

1 1 .6 6 0
3 ,7 0 1
2 ,6 0 0 j
146
.................... H o U d a y . .
3 ,2 1 7
10 1
885j
290

5 ,3 0 1
2 ,6 4 6

400

TmrnL.

1 9 .2 3 2

4 ,7 3 8

>**•

T o m .

3 ,* 3 5 1
1 ,1 7 5
895

4 0 0 1 3 .3 0 3

F rt.
7
71%
8
!* i«
8’ a
F rt,

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WCH2

F r l.

e\
75,ie 7 %
I*™
7%
I 16 31,8
89io
8»8

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T»*,e 715,f
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a
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ffi

it lo n T u eit W e d

AN D

H ALE* o r

GBUM
M
KDw

£

m

95S| m i

I f
90,225
37,380
21,131
18,383
4,282
7,327
188,633
33.787

M e « OriMUUu..
G A.)vector... . . . .
Savannah....... .
**
Mobile . . . . . . . . .

The S ales and Prices op F utures at New York, are
shown in the following comprehensive table,

W i a d d sim ilar Ugares f o r

nm w d.

Y>>rk which arc preparei for our special use by Messrs.
L a m b e r t * B a r r o w s , Produce Exchange Building.
.
Ajwv.’ SO a*—

fVoi- Lxrv,

I Si

II
I»; :
II

§§ s
I® p

at

I S’.'0;

M ©© ©
p. 0505 J
e? 5
c* « s i *
I S .» :
I
M
05
0:05005 ©©O©
sia
:0 6
CJM SO.

toto

St t

j §ip;

i

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9 9

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CmtOM'S

i
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©
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1s:

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I S' p

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6 o°6
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p
I I i.. I I
Is
II
II

I Si
II

II
I$
I I:

04a
* tnoludeo sales In Septem ber, fo r Seutetnber, 15,100: Septem ber,
Ootober, for O ctober, 341.800; Septem ber-No vernier, for N ovem ber7%
7 i i 3a 372.000; Septemlier-Deoember, fo r December, 2,290,000; Setitemher,
January, fo r January. 7.111.100: Septem ber-Pebrnary, fo r February,
7%
146,900; September-AIaroU, fo r M arch, 0,288,200.
I TT' We nave ittOlUaeil in sue auove lam e, aou shall continue ea oh
we'ekto ifive, the average prioe o f futures eaoh d ay fo r each m onth. It
will be found under each (fay follow in g tin abbreviation " A v ’ ge.” The
le s o f
averageforeaeh month for the weett ts also given at bottom o f table.

F u tu re# ,

J S f For exchanges see page 855.
T
he V is ib l e Supply op Cotton to-night,as made up by cable
8 6 ,5 0 0
and telegraph is as follows. The Continental stocks, as well as
1 8 5 ,2 0 0
those for Great Britain and the afloat are this week’s returns,
*‘ 22.3,706 and consequently all the'European figures are brought down
1 7 5 ,7 0 0
to Thursday 'evening. But to make the totals the complete
• 1 3 0 ,9 0 0
figures for to-night- (Apr. 30), we add the item of exports from
8 1 1 ,0 0 0
the United States, including in it the exports of Friday only <

THE CHRONICLE,

Ma y 1, 1897.)

1895.
1894.
1897.
1896.
Stock at L iv e rp o o l....... ba les. 1,206.000 1,142,000 1,676.000 1,712,OOC
7,000
9,000
Stock at L on d on .......................
5,000
5,000
Total Great Britain stock . 1,211,000 1,147,000 1,633,000 1,721,000
26,000
25.000
Stock at H am burg..............
14,000
25,000
Stock at Brem en...................... 175,000 246,000 332.000 198.000
16.000
20.000
Stock at A m sterdam ___ _
4,000
9,000
200
200
Stock at Rotterdam ................
300
200
18,000
18,000
Stock at A n t w e r p .. ........ ...
11.000
21,000
472.000
498.000
8took at Havre ...................
220,000 293,000
7,000
5,000
Stock at M arseilles..............
5,000
7,000
76.000
Stock at B arcelona.............
79,000
83,000 100.000
16.000
48.000
8tock at G enoa.........................
60,000
83,000
22,000
15.000
Stock at T rieste........................
16,000
29,000
Total Continental stocks.. 534,300 806,200 1.061,200 851.200
Total European stock s— 1,795,300 1,953,200 2,744,200 2,572,200
India ootton afloat fo r Europe 141,000 150.000 129.000 175.000
A m er.ootton afloat fo r Europe 271,000 243,000 316.000 208.000
32.000
29,000
E gypt,B razil.A c.,aflt.forE ’ pe
22.000
13,000
Stock in United States ports . 506,813 436,858 668.765 552.795
Stock in U. 8. interior towns.. 171,920 233,044 165.973 170.936
26,683
32.945
United 8tates exports to-day.
16,823
17,925
Total visible sUDply.......... 2,924,856 3,052,0277 4,079,626 3,743,876
Of tbe above, totals or Am erican and other descriptions are as follow a:
A m erican—
Liverpool stock ............. bales. 1,057,000 972,000 1,565,000 1,443,000
637,000 973,000 718,000
Continental stock s................... 504,000
American afloat fo r E u rop e.. 271,000
243,000 316,000 208,0< 0
United States sto ck .................
506,313
436,853 663,765 552,795
United States interior stock s.
171.920 233,044
165.978 170.936
United 8tatee exports to-d ay.
16,823
17,925
26,683
32,945
Total A m erican................. 2,527,556 2,589,827 3,720,426 3,123.676
East Indian, Brazil, c£c.—
L iverpool sto ck ........................ 149,000
170,000 111,000 269,000
L ondon stock.............................
5,000
5,000
7,000
9,000
Continental stocks..................
80,300
119,200
83,200 133,200
India afloat for Europe..........
141,000
150,000 129,000 175,000
Egypt, Brazil, Ac., afloat.......
22,000
18,000
29,000
32.000
Total East India, A c ......... 397,300
462,200 359,200 618,200
Total A m erican................. 2,527,356 2,589,827 3.720,426 3,125.676
Total visible s u p p ly ......... 2,924,856 3,052,027 4,079.626 3,743.876
M iddling Upland, L iverpool..
4Hd
413*. d
3l»32d3i51(,d.
M iddling Upland, New Y ork.
73*0.
83, *o.
7^ 0.
613^0.
E gypt Good Brown, Liverpool
415,*d.
5i4d.
6»4d.
Peruv.Rough G ood, Liverpool
63igd.
53*d.
66,6d.
5W .
Broach Fine, L iverpool..........
45s2d.
3»,«d.
43, «d.
4 i , 2d.
Tlnnevelly Good, L iverp ool..
313,6d.
370d.
4isd.
33sd.

tW~ The imports into Continental ports the past week have
been 45,000 bales.
The above figures indicate a decrease in the cotton in sight
to-night of 127,171 bales as compared with the same date
of 1896, a falling off of 1,114,770 bales from the corresponding
date of 1895 and a decrease of 319,020 bales from 1894.
A t t h e I n t e r i o r T o w n s t h e m o v e m e n t — t h a t is t h e r e c e ip ts
f o r t h e w e e k a n d s in c e S e p te m b e r 1, t h e s h ip m e n t s for th e
w e e k a n d t h e s t o c k s t o -n ig h t , a n d t h e s a m e it e m s f o r th e
c o r r e s p o n d in g p e r io d o f 1895-96— is se t o u t in d e t a il b e lo w .

h

11§

s
’
«

-

II i g

853

Q u t o a t i o n s f o r M i d d l i n g C o t t o n a t O t h e r M a r k e t s .—

Below are closing quotations of middling cotton at Southern
and other principal cotton markets for each day of the week.
CLOSING QUOTATIONS FOR MIDDLING OOTTON ON—

Week ending
A pril 30.

Satur.

Mon.

Tuts.

G alveston. .
New Orleans
M obile........
Savannah...
Oharleston..
Wilmington.
N orfolk .......
B oston........
B altim ore. .
Philadelphia
Augusta......
Memphis___
3t. Louis___
H ouston___
Cincinnati..
L ouisville...

7116
7516
718
718
7
7
7he
7 f,s
713
7%
713
7%
7i8
7°is
7%
7%

75, <5
73g
73is

75,8
7%
7M
7M
7%
7i8
7%
7=8
7=8
7 78
713
7M
7M
75,8
714
7ia

7ifl
7%
7%
7=8
79la
7 7a
7 i8
7M
75,8
7M
7ia

73s
713
714
7%
7%
718
7=8

Thurs.

F ri.

713

713.
79,6
73g
738
7%
73s
77,6
7 1118
734
8
7%
73a
73a
739
739
7M

7=8
7%
7%
718
77,8
711,6
7%
71=16
1 \
73a73a
7%
7M.
7q

7H ,e
71=16
7=8
7=8
714
714
7M.

The closing quotations to-day (Friday) at other important
Southern markets were as follows.
A tla n ta .............. 7S]6 I E u fa u la ..........
7%- N atch ez............
7%
C harlotte............ 7*9 Little R o o k ....
6% R a leig h ............
7*9
Oolumhus, G a. 7% M ontgom ery...
7=8 Selma..............................
Oolumhns.Miss 7
I N a sh v ille. . . . . .
719 S h re v e p o rt.....
7iia
R e c e i p t s f r o m t h e P l a n t a t i o n s .— T h e following table

indicates the actual movement each week from the plantations.
I he figures do not include overland receipts nor Southern,
consumption; they are simply a statement of the weekly
movement from the plantations of that part of the crop which
finally reaches the market through the outports.
Week

Receipts at the Ports. St'k at Interior Towns. Rec'pts from Plant’ns.

M c h . 2 6 ..........

1897.

1890.

6 1 ,0 3 2

7 0 ,2 3 7

1895.

1897.

1896.

1897.

1890.

1896.

3 6 .4 8 7

5 8 .5 4 8

9 4 ,5 0 0 -

1895.

1 1 5 .4 7 0 2 7 0 ,5 9 4 3 1 0 .4 9 4 3 2 3 ,9 3 2

A pr.

2 ..........

6 4 ,2 3 7

6 0 ,2 0 2 1 1 0 ,7 0 7 2 5 9 ,0 5 0 2 9 3 , 9 ’- 2 2 7 5 ,9 1 6

3 0 .0 9 1

3 7 .6 9 0

0 8 .7 5 1

M

9 ..........

4 0 ,6 3 9

6 7 ,9 0 7

0 3 . 5 2 3 2 3 2 ,1 7 0 2 8 0 .9 2 7 2 4 7 .8 4 9

1 9 ,7 5 9

4 4 .9 1 2

0 5 .4 5 0

M

1 6 .........

4 8 .7 9 6

4 0 ,0 7 0

8 0 ,6 1 7 2 0 4 ,0 2 0 2 0 3 ,6 0 9 2 1 2 ,7 7 ?

2 0 ,0 4 5

2 2 ,7 5 8

4 5 .5 4 1

“

2 3 ..........

4 7 .2 * 0

5 4 ,0 0 0

0 9 .9 0 5 1 8 4 , - 4 7 2 4 7 ,1 0 4

1 8 0 ,6 4 1

2 8 .0 7

3 0 ,1 6 1

4 < ,8 3 3 ;

M

30.

3 4 .6 8 8

3 8 ,8 2 8

5 0 ,0 3 7 1 7 1 ,0 2 0 2 3 3 .0 4 4 1 0 5 .9 7 8

2 1 ,0 0 1

2 5 ,7 0 8

3 0 ,2 7 1

...

The above statement shows: 1.—That the total receipts
from the plantations since Sept. 1,1896, are 6,539,722 bales; in
1895-96 were 5,215,795 bales; in 1894-95 were 7,754,009 bales.
2,—That although the receipts at the outports the past week
were 34.588 bales, the actual movement from plantations was
only 21,681 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the week were 25,768 bales and for 1895 they were
36,274 bales.
O v e r l a n d M o v e m e n t f o r t h e W e e k a n d S i n c e S e p t . 1 .—

We give below a statement showing the overland movement
foi the week and since September 1. As the returns reach us
by telegraph late Friday night it is impossible to enter so
largely into detail as in our regular monthly report, but all
tne principal matters o f interest are given. This weekly
publication is o f course supplementary to the more extended
monthly statements. The results for the week ending Apr. 30
and since Sept. 1 in the last two years are as follows.

s rS w H s = 3 = 1 1 S * s r iT S ls § ?

S B E g s ip ia o fs g s Is !
s -" M S r
o. .
5*3

- f tF -s ? g - '' I »
sl
s*t
q

o
B
at

i
r

. . e . l . g s j ? ! .............. I l l .................. § j . J
* * ? * § -si
.............. s g i ...................l - 5 “ t

!

: : j : S:

*g§
Si : IP.............. SIS,i

: : , :

F: 6 ,

1896-97.

: f
A p ril 30

17,769 14,338,678 1 30,696 1

r—
-4
M
©
to
©

Wednes.

to
to
to
;
M
w
Vico-* C*0C o*COCC
to*
to CoCO
0013M ©
to
VtO<J©y»CD*-(X*WO'© CO-4*.; ^CCrf-lOi-'©-.!.*© —C* 00—
•*j©cccdi^:o©>-*wk-*05c»^c*cc- ©r-*i*®^©^o«»-f-*cDo»©©u»

§ t.

Week.
*

Is

1
-1

Since
Sept. 1

1895-96.
Week.

Since
Sept. 1.

Shipped—
Via Bt. L ou is................................
Via C airo........................................
Via P a rk e r....................................
Via E vansville.............................
Via L ouisville...............................
Via C incinnati..............................
Via other routes, A c ....................

8,504 499,064
4,780 496,255
2,783 226,426
3,973 256,558
“
S’
co
m
to
m
—
to —
m
200
16.509
250
16,386
©CHCr*tO^^*COCCtOtCMC»OC©i6»y»00© ©©AXtOO»COCDO>©tO.- 1
ST 1
2,584
1,681
w©
w
tc to ® © co ©_-4 ^ to © to © ►© © to © oo c* m :
130,862
1,597
123,747
1,222
© b*© © V :^V lcc/w © wccc»ViVc*M©coVjVj©ao'® ccoo.uVi'©'**.
o
92,288
1,689
1,208 132,142
^CCCC ©to ——>^-©©^©C^^ltOCO©ICOOCO —<*■!<-©© —©-Itoco ® «
© —COtOOOOCi^M^4XCri*-*tOtO©©COOO(D^-*4COMO»©«*40ifcOtOtOCD ©
u.
87,037
2,06 i
439 113,802
*13
16,834
1,046,747
11,872
1,148.589
T
otal
gross
ov
erla
n
d
...............
CO
rf*
to
£*
;
h*
h- * m
1 C£O Deduct shipments—
com cotoV. c u a w H o ^ a a o * :
coco if>* »-*©*um b» «ito
3,518 254,502
2,603 298,474
©©tOCO©CC<k —t0u»0rc^03©0».
C* to to C*—«.|**|co © *. ,—© © i i •3 ©
Overland to N. Y ., b oston , A c ..
-*J©i*1»©rf-i^©COi(k»-*©®C*CO^J CO®t-‘ ©(OIOrfkC^>-*QO©Mi-*©i^
28
4,197
3,344
45
sf <—
Between Interior tow ns.............
36,612
1,234
45,253
832
Inland,
A
c.,
from
South..............
cc
©
co
m
to
*«
it*.
j-* ; rf* ; o ioao to^- jo ©
h ^ h h io
<1
4,780 303,099
3,480 339,283
Total to he deduoted...............
Vito ©©#-►-• ©CD' ©’©©CoV*>UCO© WtoVoVjVj! H*’to'bt © V* co
© -4 —' ’ © ® ©It** © © r-#k©©rOCC*4 —cc to © #*■: © o* —y» © © CO
#-QC©XCO® »-•W ©H*iO-4C©©*4®tO©CCtOi^. O O' —C" tOCD ©
8,392 809,306 12,054 743,648Leaving total net overland *..
* Ijo lu d in g m ovem ent by rail to Canada.
©
**
to
©
M
The foregoing shows that the week’s net overland movement
Vj to —H*coot COtoV-1-* Mr- ►to COCOt-t ©
CO
this year has been 8,392 bales, against 12,054 bales for the
©CO®^3©CC©tOODO«®©©tOtOCO©iP*©-^tO© tO*4 tO ©®-4»UtO
>3
m wi © m « © © >-•© © co o» © © © © co ifk© m co -4 © it**-© *- © © © ©
week in 1896, and that for the season to date the aggregate net.
5

E

[

N

©
*
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37,017 I 233,044

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>

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M
^o to ot © mco© ^ oi^j m © mmoo
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V»© vV*toVj©©M mco® ® © © © © V jxVixVjc^
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a -1 ©<»■ - j ©. »-*,«-©© coa*o© ©to© co© o* cow© * - k.© #-to©©

' This year’s figures estimated.

M

£

E

Movement to May 1 , 1 8 9 6 .

to
t:
©
-4
CO
c*
©
CD
V
00
©

overland exhibits an increase over a year ago of 65.658 bales.
1896-97.
In Bight and Spinners’
Takings.
Receipts at p orts to Apr. 3 0 ....
Net overland to Apr. 3 0 ______
Southern consum ption to Apr. 30
Total m ark eted ...........
Interior stocks in e x cess.
Came into sight during w eek.
Total in sight Apr. 3 0 .............
N o r th ’n s p in n e r s t a k ’g s to A p r . 3 0

Week.

Since
Sept. 1.

34,588 6,488,396
8,392 809,306
17,000 689,000

1895-96.
Week.

Since
Sept. 1.

39,828 5,015,451
12,054 743,648
10,000 668,000

59,980 7,986,702 67,882 6,427.099
51,326 *14,060 200,344
* 12,927
47,053

53,822
8,038,028

6,627,443

14,366 1,514,457

18,888 1,433,979

* Decrease during week.
The above totals show that the interior stocks have decreased
It will be seen by the above that there has come into sight
during the week 12.927 bales and are now 61,124 bales less
than at same period last year. The receipts at all the towns during the week 47,053 bales, against 53,822 bales for the
have been 5,188 bale* less than same week last year and since same week of 1896, and that the increase in amount in sight,
8ept. I they are 830,192 bales more than for same time in 1895-6. to-night as compared with last year is 1,410,585 bales.

1IIE CHROMOLB,

A pr. 29, ’97. A pr. 30, ’96.
Feet.
Feet
193
13*0
34-1
10 4
11*0
5*3
152
4 ’9
51-9
2**6

New O rleans.......
Vlempliis..............
Nashville..............
Shreveport........... .........A bov e zero o f gauge
VlokshurK............

I n d i a C o t t o n M o v e m e n t F r o m a l l P o r t s . — The receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to April 29.
BOMBAY RECEIPTS AND SHIPMENTS FOR FOETH YKiHS.
Shipments this week.

Shipments since Sept. 1.
Oontinent.

Total.

Receipts.
This
Sine*
Week. Sept. 1

398.000
503.000
246.000
544.000

422.000
559.000
254.000
585.000

56.000 1.185.000
77.000 1.717.000
92.000 955,000
64.000 1,$26,000

Great
Total. B ritain

I

Year Great
Brii'n.
’ 96-7
’ 95-6
’ 94-5
’ 93-4

3.000 19.000
17.000
2.000 43.000
1,000 43.000

22,000
17.000
45.000
44.000

24.000
56.000
8,000
41.000

According to the foregoing Bombay appears to show
a decrease compared with last, year ia the week’s receipts of
21.000 bales and an in crea se in shipments of 5,000 bales, and
the shipments since Sept. 1 show a decrease of 137,000 bales.
The movement at Calcutta, Madras and other India ports for
the last reported week and since the 1st of September, for tw o
vears, has been as follows. “ Other ports” cover Ceylon,
Tutioorin, Kurrachee and Cooonada.
Shipments f o r the week.
Great
Britain.

Conti­
nent.

Q a lou tts1896-97...
1895-96.
U ad ras1896-97...
1895-96...
All others—
1896-97...
1895-90...

1,000

4,000
2,000

Total all
1896-97.
1895-90.

i .bod

9,000
4.000

5,000
2,000

......

Shipments since Sept. 1
Great
Britain.

Total
5 000
2,000

Continent.

Tota .

0,000
10,004«

42,000
45,000

48,000
55,000

6,0O<*
10,000

20,000
17,000

4,000
3,000

20,000
13.000

00,000
47,000

80,00"
GO.OOO

9,000
5,000

32.000
33,000

116,000
99,000

148.000
132,000

......

II

t»-" hundredths of an inch, the thermometer has average
64. ranging from 53 to 75.
H
Memphis Tennemre —Planting is active on the hills and i
W him* where overflow does not interfere. Some ootto
w up. lhe river m 33-9 feet on the gauge and falling Tb
total fad to date U IJ-2 feet. Rain has fallen on three dai
r,( * • w!
--nt r»f sixty-nine hundredths o f a
nicn and is mining now. The thermometer has ranged froi
544» to Wj-fl, averaging 69-7.
“
I-AHt wi ck the weat her was fine for farm work but it wgreatly mterf.-r,"! with bv buffalo gnat- The river stood i
■ sW u '
rna was faffing. The week’srainfa
reached two hundredths of an inch on one day
T1
thermometer averaged 60 7, ranging from 43-9 to 79.

An ihville, Tennessee.—There has been rain during the week,
the rainfall being one inch and fifteen hundredths. As a
rule the weather has been favorable and planting is nearly
completed. Average thermometer 6 8 , highest 84 and low­
est 51.
M obile, A la b a m a .—There has been considerable replanting
in some sections on account of previous dry cool weather.
The condition is ten to twenty days backward. Good rains
in the interior the latter part of the week have been very
beneficial. It has rained on three da vs of the past week, the
rainfall reaching one'inch and ele'ven hundredths. The
thermometer has averaged 69, the highest being 82 and the
lowest 57.
M on tgom ery, A la b a m a .—The first rain for two weeks fell
yesterday and will do much good. It is raining now. The
precipitation reached one inch and thirty-two hundredths.
The thermometer has averaged 70, ranging from 60 to 78,
M adison. F lo rid a —Planting is completed; stands are
moderately good, but the plants are not looking well on ac­
count of cool nights. Dry weather has prevailed all the
week. Average thermometer 74, highest 89, lowest 56.
Savan nah, G eo rg ia .—The week’s rainfall has been fiftyfive hundredths of an inch, on two days. The thermometer
has averaged 7 1 , ranging from 57 to 85.
A ugusta G eo r g ia . ...'File week’s rainfall has been sixty-four
hundredths of an inch, on two days. The thermometer lias
ranged from 51 to 8 8 , averaging 70.
( 'norleston, South C a r o lin a —Rainfall for the week fortyeight hundredths of an inch, on one day. The thermometer
has averaged 69, the highest being 80 and the lowest 58.
S tateb u rg, S ou th C a r o li’io .—There has been one light
thunder shower the past week, the rainfall reaching eleven
hundredths of an mch. The thermometer has averaged
70’7, ranging from 54 to 8 6 .
G reen w ood, South C a rolin a —There has been rain on one
day of the week, the rainfall reaching twenty-eight hun­
dredths of an inch. Moisture is badly needed. The ther­
mometer lias ranged from 55 to 82, averaging 69.
W ilson , N orth C a rolin a .—There has been rain on one day
during the week, to the extent of seven hundredths of an
inch. Average thermometer 69, highest 8 6 , lowest 48.
The foiiowmgstatetneni we have also received by telegraph,
showing the height of the rivers at the points named at
8 o’clock April 29, 1897, and April 30, 1896.

r-t

WtATHKR Rjepobts bv T elegraph .—A dvices to us by
telegraph this evening are, on the whole, quite favorable,
a.a4 out' 1 <* of the overflowed districts rapid progress has
twi-a mad- with cotton-planting during the week and it is
nearing completion at a number of points. In some localiti- • •arly plantings are up bat growth has been ckeoked
somewhat by cool nights. Rain has fallen in most sections
during the week, and it has been of much benefit, more par­
ticularly in Texas, where it was quite generally needed.
The Mi- i-sippi River is falling at Memphis and Helena,
but below Vicksburg the situation is unchanged.
Q .ih \ * to n , T e x a s . —General showers on Sunday and
\t •dtioday were of great benefit to growing crops and were
needed in itll sections. Rut the cool weather now prevail­
ing throughout the state will retard the growth of cotton.
Planting is about completed in the Southern portion of the
State and the greater part of the crop is planted in North
Texas. Early-planted cotton is up ana was growing nicely
bi-fore the cool spell. It has rained on two days of the
week, the rainfall reaching seventeen hundredths of an
inch. Average thermometer 6 8 , highest 78 and lowest 57.
Palestine, L x a s .—There has been rain on three days of
the past week, the rainfall reaching one inch and fortyeight hundredths. The thermometer has averaged 6 6 , the
highest being 80 and the lowest 52.
H untsville T exa s .—We have had rain on two days during
the week, the rainfall being ninety-three hundredths of an
inch. The thermometer has averaged 6 8 . ranging from 53
to 83.
Dallas, T exas —Farmers are very busy plowing and plant­
ing, An increase in cotton acreage is anticipated. We
have had rain on two days of the week, the precipitation
reaching one inch and twenty-six hundredths. The ther­
mometer has ranged from 49 to 83, averaging 6 6 .
Saa A n to n io . T ex a s .—It has rained lightly on four days of
the week, the precipitation being sixty-six hundredths of an
inch. Average thermometer 69, highest 84 and lowest 54.
Lilting. T exas, —We have had heavy rain on four days of
the nast week, to the extent of three inches and twelve
hundredths. The thermometer has averaged 70, the highest
being So and the lowest 54.
Colum bia. T exas. —Rain has fallen on two days of the
week, to the extent of ninety-six hundredths of an inch.
The thermometer has averaged 69, ranging from 54 to 84.
C u ero, T exa s .—Rain has fallen on three days of the week,
to the extent of eighty-eight hundredths of an inch. The
thermometer has ranged from 55 to 85, averaging 70.
Hrenham, Tea a*.—There has been heavy rain on two days
during tin- week to the extent of one inch and eighty-seven
hundredths. Average thermometer 70. highest8 6 , lowest53.
Fort W orth , T ex ts .—We have had beneficial rain on two
days of the week, the precipitation being one inch and
twenty-seven hundredths. llie thermometer has averaged
69,_ ranging from 46 to 83.
115nth rford . T exa s .—We have had beneficial rain on two
days of the past week, the rainfall reaching one inch and
thirty-two hundredths. The thermometer has ranged from
46 to 81, averaging 6 d.
.Veil- Orleans L ou isian a. —We have had rain on two days
of tin* week, the rainfall reaching fifty-three hundredths of
an inch. Average thermometer 71.
Hhievrj,art. Louisiana.—We have had rain on two days of
the past week, the rainfall being ninety hundredths of an
inch. The thermometer has averaged 69, the highest being
81 and the lowest 53.
8
Coluvihux, Mississippi.—Rain has fallen on three days of
the week, the precipitation reaching seventv-three ’ hun­
dredths of an inch. The rain will do great good. The ther­
mometer has averaged 6 6 , ranging from 5 4 to 8 8 .
lx 'a n d . M ississippi.—T h e week’s rainfall has been sixtythree hundredths of an inch. The thermometer has ranged
iging 67-7.
Vu'k*imrg, H insixs-,,pi.—h has rained on two days of the
w.wlt, t|,<, precipitation being sixty-two hundredths of an
in.-h. A v e r a g e thermometer 08, highest 84 and lowest 55.
L ittle R ick . A ka a s s ,—We have had rain on four davs of
the week, to the extent of one inch and eighty-nine hun­
dred tiw. The thermometer lias averaged 08, the highest
being 83 and the lowest 55.
*
H elena, A r h a m ts —The river has been falling slowly, hi:
n..vr the decline is becoming more rapid. It is believed tha
most of the overflowed land will be planted, but some ka\
abandoned anticipations of a crop. We have had light rai

[V ol. IiXlV,

III

854

The above totals for the week show that the movement from
the ports other than Bombay is 4,000 bales more than the same
week last year. For the whole of India, therefore, the total
shipments since September 1, 1896, and for the corresponding
periods of the two previous years, are as follows.
E X P O R T S T O E U R O PE FROM *

1896-97.

Shipments
to a ll Europe
from —

This
week.

Since
Sept. 1.

This
week.

B o m b a y .........
All oth er ports

22,000
9,000

422.000
148.000

17.000
5,000

31,000:

570,000

22.000

Total

3 IIU

1895-90

1894-95.
This
week.

Since
Sept. 1.

559.000
132.000

45,000
3,000

254.000
105.000

691.000

48,000

359,000

Sin
Sept.

THE CHRONICLE

Ma y 1, 1897,]

A l e x a n d r i a R e c e i p t s a n d S h i p m e n t s . —Through arrange’
ments we have made with Masers. Davies, Benaohi & Go., o f
Liverpool and Alexandria, we now receive a weekly cable <f
the movements of cotton at Alexandria, Egypt. The following
are the receipts and shipments for the past week and for tuc
corresponding week of the previous two years.
A lexandria, Egypt,
A pril 28.

Exports (bales)—
To L iv e r p o o l_____ _
To C ontinen tf.........
T otal E u rop e_____

40,000
5,664,000

10,000
5,170,000

8,000
4,514,000

Since
This
week. Sept. 1.

This
Since
week. Sept. 1.

This
Since
week. Sept. 1.

2,000 299.000
6,000 312.000

4.000 307.000
6.000 279.000

5.000 245.000
8.000 301.000

8,000i611,000 10,000 586,000 13,000 546,000

' A oan ta rls 98 pounds.
t O f wMoli to Amertoa In 1896-97, 45,943 bales; In 18 9 5 -9 6 ,5 1 ,9 5 6
bales; in 1894-95, 39,905 bales.

Manchester Market .—Our report received by cable
to-night from Manchester states that the market is ste udv for
yarns and firm for Bhirtings. The market does not respond
to the movement in Liverpool. W e give the prices for to-day
below and leave those for previous weeks of this and last
year for comparison.
1896.

1897.
8% lbs. Shirt- GotVn
32# Cop. ings, common Mid.
Twist.
Uplds
to finest.
Mh 26
Apr. 2
“ 9
“ 16
“ 23
“ 30

d.
e^a
638
65la
63q
8~ig

d. 8.
®73,„|4
®73l f i 4
®73,e 4
9 7 X4 4
®7^i« 4
® 7% 1

d.
s. d.
0Lj®6 7
0 *2®6 7
0 ®6 7
0

96
96
0% 96

o

7
7
7%

d.
33*32
4
4*32
4*8
4*8
414

8 4 lbs. Shirt- Oott’ n
UOp. ings, common Mid.
Twist.
to finest.
JJplds
d.
d.
6*a 9 7 %
6i* 9 7 %
6Lj 9 7 %
6^3
37%
6 4 97%
6** ® 7%

8.
4
4
4
4
4
4

Cotton Consumption and Overland Movement to Ma y 1.
—Below we present a synopsis o f our overland movement,
receipts, exports, spinners’ takings, &c., for the month of
April a> d for eight months of the season to May 1, for the
years 1891 93, 1895-96 and 1896-97.

1894-95.

1895-96.

1896-97.

R eceipts (oautars')___
This week..................
Since Sept. 1 ..............

855

d.

s.

d^
■Ll$ 9 6 8*a
4*3^6 8*3
4Lj®6 8*9
4Ls®6 8*2
4*2®6 8*3
4436 9

d.
43a
413^2
4>33a
439
4133a

S e a I s l a n d C o t t o n M o v e m e n t . — We

Gross overland for A pril................. hales.
Gross overland for 8 m onths.....................
Net overland for April................................
Net overland for 8 months.........................
Port receipts in A p ril..................................
Port receipts in 8 m onths...........................
Exports in A p ril..........................................
Exports in 8 months...................................
Port stocks on A pril 30..............................
Northern spinners’ takings to May 1 ___
Southern spinners’ takings to M ay l ___
Overland to Canada for 8 months (ineluded In net overland)..........................
Burnt North and South in 8 m onths.......
Stock at North’n interior m arkets May 1
Came in sight daring A p ril.......................
Amount o f crop in sight May 1 ................
Came in sight balanoe season...................

1896-97.

1895-96.

1894-95.

59,793
1,148,589
43,129
809,306
189,269
6,488 396
363,548
5,477,228
506,813
1,514,457
689,000

62,765
1,044,921
29,424
742,780
211,308
5,009,519
365,408
4,154,102
445,521
1,432,962
666,000

122,587
1,720,767
40,781
1,119,372
372,770
7,623,267
508,788
6,153,612
695,602
1,984,609
586,000

64,011
56,140
89,941
2,427
41,197
3,081
4,001
11,918
4,180
216,724 239,732 338,551
8,038,028 6,620,299 9,447,639
542,174 445,127
7,162,473 9,892,766
Average weight o f b a le s ...........................
50703
501-59
502-68

E x c h a n g e s . — The following exchanges have been maoe
during the week:
•09 pd. t o e x o h .1 ,7 0 0 M ay for July.
■35 pd. to exoh. l.OOONov.for July.
•15 pd. to exoh. 200 Oot. lo r 8ept.
•10 pd. to exoh. 700 Sept, for May.
11 p d.toexch . 16,100 May for Aug.
•36 pd. to exoh. 500 Oct. for A uk.
10 pd. to ex eh .l ,900 May fo r July.
•04 pd. to exoh. 400 May fo r June.
•12 pd. to exoh. 200 Jan. fo r S ept
•10 pd. to exoh. 1,000 May fo r Aug.
•12 pd. to exoh. 8,000 May fo r Aug.
•50 pd. to exoh. 200 Nov. fo r Aug.
•05 pd. to exoh. 400 May fo r Juue
•13 pd. to exoh . 500 Sept, fo r May.

01 pd. to exoh. 100 July for Aug.
05 pd. to exoh. 200 Apr. fo r Juue.
09 pd. to exoh. 1,600 May f or Aug.
•01 pd. to exoh. 2,900 July for Aug.
•10 pd. to exoh. 500 May for Aug.
•06 pd. to exoh. 400 May fo r July.
0-1 pd. to e xoh . 900 June fo r July.
•02 pd. to exoh. 400 May fo r June.
•47 pd. to exoh. 1.500 Nov. fo r May.
■08 pd. to exoh. 200 Nov. fo r Feb.
•05 pd. to exoh. 900 May fo r Aug.
08 pd. to exoh. 200 N ov. fo r Feb.
Even 300 July for Aug.
Even 100 Nov. fo r Deo.

have received this
(Friday) evening by telegraph from the various ports the
details of the Sea Island cotton movement for the week. The
receipts for the week ending to-night (April 30} and since
Sept. 1, 1896, the stocks to-night, and the same items for the
Government W eekly CottOaN R eport.—Mr. W . L. Moore,
corresponding periods of 1895-96, are as follows.
Chief of the Weather Bureau of the Agricultural Department,
made public on Tuesday the following telegraphic reports on
1896-97.
Stock
1895-96.
the crops in the Southern States for the week ending April 26:
Receipts to A p ril 30.

This
Since
Since
This
week. Sept. 1 . week. Sept, 1. 1897.

S a v a n n a h ..........................
Charleston, & o.................
Florida, <Sto........................

17

82,743
10,371
6,733

T otal.............................

115

99,847

98

75
....

75

1826.

9,931
1,691
2,958

4,523
1,509
1,611

89,409!l4,570

7,643

74,218
10,408
4,783

The exports for the week ending this evening reach a total
of 904 hales, of which 762 bales were to Great Britain, 42 to
France and 100 to St. Peters! urg, and the amount forwarded
to Northern mills has been 851 bales. Below are the exports
for the week and since September 1 in 1896-97 and 1895-96.
Exports
from —
8’vann’ h, &o
Charrt'n,&o
Florida, <feo.
New Y ork..

Wee'c Ending A p r .30.

8

ince Sept. 1, 1896.

Great Fr'nee
Great Fr'nee
Total. Brit'n.
Total.
Bril'n. Ac.
Ac.
100

100 15,028
2,933

3,176 18,204
2,933

North'n Mi

8.

Sinc<
Week. Sept.i
834 27,108
1,925
17 6,733
......... —

1.45
28
589

42

Phila., & o...

187 10,465
28 10,602
589 3,622

6,555 17,020
10.602
102 3,724

T eta l........

762

142

904 42,650

9,833 52,483

851 35,766

Total 1895-8

607

224

831 38.206

6,691 44,897

264 37,254

.........

........

A considerable portion of the Sea Island cotton shipped to
foreign ports goes via New York, and some small amounts via
Boston and Baltimore. Instead o f including this cotton for
the week in which it leaves the Southern outports, we follow
the same plan as in our regular table of including it when
actually exported from New York, &c. The details of the
shipments of Sea Island cotton for the week will be found
under the head “ Shipping News,” on a subsequent page.
Quotations April 30 at Savannah, for Floridas, common,
8c.; medium fine, 10c.; oboice, 13>£c.
Charleston, Carolinas, medium line, 17@l7).£c.; fine, 18c ;
fully fine, 19@20c.; extra fine, 28(333c.
H ig h W a t e r in t h e M i s s i s s i p p i .— There has been no partic
ular change in the flood situation in the Mississippi Valley
during the week. The water pouring through the breaks in
the Louisiana levees has inundated portions of over half a
•dozen counties, some of the most productive soil in the State
being under water. Traffic has been suspended on the
Natchez Red River & Texas RR. and other roads are likely to
be affected. The river has been about stationary at Vicks­
burg, but below that city there has been a general rise. The
situation is considered very critical above and below New
Orleans and constant work on levees is required to hold them.
The greater part of the water from the Louisiana crevasses
will return to the Mississippi through the Red River and so
on by New Orleans, In the upper river the water is declining
gradually, as our telegraphic reports frem Memphis and
Helena this evening i ditate.

North Carolina.—H eavy frosts throughout the State greatly dam ­
aged peas, beans, tom atoes, melons, and killed potatoes to ground;
grapes slightly, and other fruit considerably dam aged; apples and
peaches thought still safe in western counties; some corn and cotton
being replanted; muoh cotton and bulk o f oorn planted and trans­
planting tobacco begun; crops grow ing slowly.
8outh Carolina.—C otton com ing up slow ly; stands very uneven;
earliest planted receiving tirst working; worms and orows injuring
corn. Wheat promising. Oats neediag rain R ice doing well.
Florida.—Week decidedly favorable over western and northern
ooQnties for cotton, corn, cane, tobacco and vegetables. Pineapple
crop will be good.
M ississippi—Cotton-planting progressing and being pushed to a
flnisli; som e cotton up and being scraped and chopped.
Louisiana.—Week averaged normally warm, with lo o il showers and
abundant sunshine; tine weather for com pleting replanting cotton
injured by late cool spell, rice planting and working corn.
Texas.—Cotton-planting about com pleted, except in northern p or­
tion, where waiting for warm er weather.
S t a t e A g b i c u l t u r a l R e p o r t s . —We give below summaries
of the reports for the week ending April 19. issued by the va­
rious States, uader the auspices of the Weather Bureau of
the U. S. Department of Agriculture, so far as they apply to
cotton.
N orth Ca r o l in a .—Eastern District.—The unfavorable feature o f the
week was the cold weather and heavy frosts on the m ornings o f the
21st and 22ud. The week was very dry and the latter part was quite
warm. Rain Is needed to make corn and cotton start off. and to moist­
en the soil, which is getting hard. Farm work progressed favorably
and most farmers are up with their work. A little y ouag corn and
cottou was killed by the frost. Planting a large crop o f cotton is pro­
gressing rapidlv though interfered with by dryness. Central District.
—The past week was fine for planting and plow ing, but the land is
now dry and hard, and work still behind to some extent. The
weather has been unfavorable fo r grow th o f crops ou account of
ihe frost early in the week and thejgeneral dryness; warm sbowers are
much needed. The frosrs in this section were quite heavy, the tem ­
perature falling below freezing at many points, with form ation of
tbin ice. Youug cotton was out down. A great deal o f cotton was
planted and planting is in full swing. Cotton damaged by the frost is
being replanted. Western District.—A full week's sunshine and no
rain made conditions very favorable for farm work, which progressed
rapidly; bat rain is now needed to bring up seeds, as the ground is
getting hard and baked. The frosts did com paratively less damage in
this district, except to fruit. Muoh oottou has been put in and some
is up.
S outh Ca r o l in a .—The w eather was extrem ely favorable for farm
work but too cool and dry for growing orops and for breaking up bot­
tom lands or clay soils generally. Cotton-planting progressed rapidly
and is now about half finished over the western and central counties,
lo many places, in eastern sections, planting is practically completed.
Slow germination and growth, owing to cool nights and want o f moist­
ure. Stands very uneven Replanting neoessary over northeastern
counties, where many fields were destroyed by frost. Rain and warm
nights would prove beneficial. Sea island cotton practically all
planted and good stands have been secured.
T r x a 8.—The weather during the week was exceptionally favorable
for farm work, and farm ing operations are well advanced. The raia
at the close of the week was very benefloial where it ooourred, but the
drought still prevails o ver the greater portion o f the southern half o f
the State, where crops have begunto suffer for rain in many localities.
The showers Improved cotton where they ooourred, but a general rain
is needed for the crop. Early planted cotton is up and looking well,
except over North Texas, where the oooi nielus have checked its
growth. Cotton planting is generally com pleted over the southern
portion of the state, and the bulk of the crop is planted over the north­
ern portion of theJState, where some replantmgj has,been±neces3ary

THE

858

CHRONICLE.

■>
n'i%&*knic not eeml«tt *i» overly well osi account of the
- ‘ ‘.I' nriitn-f vv n il: trorablo weMliwr, planting «UI InsCompleted
.....a ,
• o r i »otSA«8 will b* planted.
!

r--.. W.-mimr « * * p e iirct f i r t,tru» work and fa m e s *
....v
I
I! to nimh vlotittsi! rigorously forw ard. \orlh
,, . _ r w w.,rin w m tlt-r faollltaled f*rtn w o-k Cotton laud Is
A,
4*nt pi .ntlaK i , progressing. Much laud is stilt too
i « .Vc ' s'.'i Ihm*' t'Cthm-W ith this e x o e p 'lo o o f Arkansas
r
orrtim ..verflaweJ toads alone th* Mississippi, crop* in
.. u'.n am woll advanced on.I doing splendidly. O otioo-pluoting
, uuplctod this week if Use woatuar continues favorable.
:W te w .* * -T h e w e a lb e rh i-b te m e u tlrtir favorable during the
for n U stlo c unit farmors b tve »u w led In get'lu g In all o f their
loo.! an.i moat o f the notion, Borneo * tto n i- no and growing
Chopping out will com m ence UOKt woo it S.i tl/t res I rerrtO'i —
a» boon a 0 «> week for jilowime and pI s q i I dk and farmers have
sroat strides in calohlne up with tbotr work. Xorihwetl sect inn—

mi I* brunt bedded for oottott.

Prospect I for all orops continue

Echci' eas Cotton Consumption to A pril 1 ,-W e have
f. 'l ived to-dav (Fridav) by cable Ur. Etlisoa’a figures brought
down to April l. We bare also received the revised totals
for Inst year and give them for compariaon. The spinners
Great Britain.

October 1 la A pril 1*

Total.

Continent.

F o r 1 8 9 6 -9 7 .
Taking* by apianera... bale*
Average weight o f balee.lb*
Taking* in p o u n d * ..............

4,315,000
2,417,000
1,893,000
492 6
485
502
952,996,000 1,172,745,000 2,125,741,000

F o r 1 8 9 5 -9 6 .
Taking* b r *ptnner*.. .bales
Average weight o f balesJb*.
Taking* In pound*.................

4,061,00
1,853.000;
2,211,000
489-8
500
481
926.795.000 1,083,375.000 1,990,670.000

According to the above, the average weight of the deliveries
in Great Britain is 502 pounds per bale this season, against
5 t i pounds during the same time last Beason. The Continental
deliveries average 485 pounds, against 431 pounds last year,
and for the whole of Europe the deliveries average 492'6
pounds per bale against 489'8 pounds last season. Our
dispatch also gives the full movement for this year an 1 la t
year in bales of 500 pounds.
Oct. 1 to A pril 1.
Sole* o f 500 the. each,
000* omitted.

1895-96.

1896-97.
OonlU
Oreat
Britain. nent.

Total.

Conti­ Total.
Oreat
Britain. nent.
602,
480,

S pinner*'stock Oct 1.
Taking*In O cto b e r...

24,
249,

277;
240,

301,
489,

67,
253,

535,
227,

Total enpply.........
C tnsnnip. Oct., 4 wka.

273,
256,

617,
320,

790,
576,

320,
256,

762,
316,

1,082
572

Spinner*- stock Nov. 1
Takings in November.

17,
300,

197,
407,

214,
707,

64,
298,

446,
300,

510
598,

Total supply........
Csnaamp, Nov,, 4 wit*.

317,
256,

601,
320

921,
576,

382,
256,

746,
316,

uo8
572

Spinner** stock Bee. 1
Taking* In December.

61,
381,

284.
513,

345.
894,

106,
34 i.

430,
417,

Total su pply........
Conatunp. Dee., 5 wks.

442.
320,

797,
400,

1.239,
720,

450,
320,

847,
395,

Spinner*’ stock Jan, 1
Taking* In January..

122,
301,

397,
360,

519,
661,

130,
282.

452.
408,

582,
888

Total supply........
Oonjutup. J a n . 4 wk*.

423,
258,

757.
320,

i,1 3 0 ,
576,

412.
256,

858,
316,

1,270,
572,

Spinner*' stock Feb. 1
Taking* In February.

167,
279,

437,
417,

604,
! 696,

, 156,
270,

542,
359,

698,
624,

Total supply........
Oonaamp. Feb,, 4 wk*.

446,
256.

854,
320,

1,300.
576,

426,
256,

901,
320.

1,327,
576,

Spinner*' stock M ch.l
Taking* in Starch.......

190,
396,

534,
408,

170,
408,

581,
418,

751,
824

Total *npply.........
Co&#moi). Mm*» 8 wk»

586,
320,

942,
400,

1.528,
720,

676,
320.

999,
400,

1,575,
720.

8fil.fiu^rt* kuwM Apr. 1

260,

542.

808.

250,

5B9.

855

724, i
804,

536,
761

1896-97.

1895-96,
Total.

Oreat
BritaiT,

Oonli
nent

Tata.

it
1,906.

277,
2,345.

301,
4,251.

67.
1,853

535
2.127

602
3,980,

iU t p if **».***
1,030,
t 20 wtmks 1,86*.

2,822,
2f0S0,

4,552
3,74 l

1,920
1,604

2,662
2,003

4,582.
3,727,

808

256

699,

855,

144.0
H I, )
144.0
144.0
14 4,0
Ul.«<

64.0
64.0
64.0
6 4,0
04.0
64 0

tp !a o# f* ‘ stock Apr. 1
IN#M$jf Oemumptttm,
00# omlited:
l:tt O ctober
.
Is
......
Is
.... . . . .
t a F^lst'mry ..* * ..* .
In Mjsrrti . . . . .....

-6 6 .

84.0
84.0
04.0
64.0
C4,0
64.0

542

80,1
80O
80,0
80,0
80.O
80 0

70.0
79.0
79.0
79.0
80.0
80 a

T h e f o r e g o in g s h o w s th a t t h e .w e e k ly c o n s u m p t io n is n o w
144,000 b a le s o f 500 p o u n d s e a c h , a g a in s t 141,000 h a les o f lik e
w e ig h t s a t t h e c o r r e s p o n d in g t im e la s t y e a r .
The to ta l
s p in n e rs’ s to c k s in G r e a t B r ita in a n d o n t h e C o n t in e n t h a v e
in c r e a s e d 81,000 b a les U m u g Che m o n t h , b u t a re n o w 47 ,00 0
b a les less th a n a t th e o m a d a te la st sn a son .
J u t e B u t t s , R a g g i n g , & c .— T h e m a r k e t f o r j u t e b a g g i n g
h a s b e e n s t e a d y t h e p a s t w e e k , a n d a n im p r o v e m e n t i n d e ­
m a n d is t o b e n o t e d . T h e c l o s i n g q u o t a t io n s t o - n i g h t a r e 5 t £ c .
f o r 1*4' lb s .. 5 % o . f o r 2 lb s . a n d flVjjs. f o r s t a n d a r d g r a d e s .
C a r -lo a d lo t s o f s t a n d a r d b r a n d s a r e q u o t e d a t 5h£o. f o r 1 %
lb s ., 3 7sC. f o r 2 lb s . a n d 6 ?g a . f o r 21, lb s. f .o . b . a t N e w Y o r k .
J u t e b u t t s c o n t in u e q u ie t a t T Q oo. f o r p a p e r q u a l i t y , l '3 0 c .
f o r m i x i n g a n d I : , o . f o r b a g g i n g , a ll t o a r r iv e .
S h i p p i n g N e w s .— T h e e x p o r t s o f c o t t o n f r o m t h e U n it e d
S ta te s t h e p a s t w e e k , a s p e r la te s t m a ll r e t u r n s , h a v e r e a c h e d
128,335 b a les.
Total hales.
747
N ew Y o r k —To Liverpool, per steam er Nom adic, 7 4 7 ............... .
3,074
To Hull, per steamer H indoo, 3 ,0 7 4 ..........................................
T o Manchester, per steamer Phidias, 142 upland and 14S
287
Sea Island......................................................................................
200
To London, par steamer Meuantto, 2 0 0 ................................. .
To Havre, per steamer La Champagne, 452 upland and 42
494
Sea I s la n d ............ .............. ................... ..................................
To Bremen, per eteaunrs Friedrich der Grosse, 3 ,3 6 5 ....
5,9 56
Trave, 440 . . Weiman, 1,648 .................................................
To Hamburg, p e - s to a r rs N ordkyn, 1,537— Phoenicia,
4,699
2,313___Rosefleld. 34 0.............. ......... -................... ..........
To A ntwerp, per steamers BritlsU Queen, 7 2 ....W estern 222
land, 150................
............................................ ...............
To Genoa, per steamers Elyaia, 1,7 02___Fulda, 76.
3,028
Oregon. 1,250 .................................. ....................................
1,296
To Naples, per steamers Fulda, 8 9 6 ....O re g o n , 4 0 0 ....... .
N sw <jrleans —T o Liverpool, per steamers Mira, 5,000.
Musician, 7,2 01___Traveller, 5,000 .................................... . 17,200
To Havre, per steamers Bondi, 8,1 84___Corrientes, 6,401
___Queensmore. 10.465..........................................
25,000
To Dunkirk, per steamers Barbara, 1,184 ...M a rin o, 1,750. 2.934
To Bremen, per steamer Berirath, 7 ,1 0 0 .....................................
7,100
To Hamburg, per steamer H eighlogton, 960 ..........................
980'
To Barcelona, per steamer Catalina, 1,100— ... ................
1,100
To Genoa, per steamers Catalina, 5 ,4 0 0 — M oorish Prinoe,
4,200 .................................................................
G alveston —T o L iverpool, per steam r Governor, 2,2 35____ _
2,235
7,005To Manchester, per steamer Kingsto 7,005...........................
Mo bile -T o Liverpool, per steamer Huntoiiff, 3,409 .................. 3,409
P ensacola —To Liverpool, per steamers Gracia and Legislator,
4,081
4 .0 8 1 ...............
.......................................... .....................
4,125
Savan n ah —To St. Petersburg, per steamer Cent-o, 4,425............
3,392
To Barcelona, per steamer Corso. 3,392 ............................... ...
B runsw ick —T o Bremen, per steamers Heathfield, 3 ,9 2 5 ....
9,176
Henley, 5,251 . .............................................
—
N o r f o l k —To L iverpool, per steamer Piuner’s Point, 2 ,5 7 7 ----- 2,577200To Rotterdam, per steamer M obile. 200 ..........................
BOSTON—To Liverpool, per steamers Catalonia, 639 . Cestrian,
3.081 upland and 20 Egyptian
Michigan, 234 . . Phila­
delphian, 202 upland and 28 Sea Island
Rom an, 78
4,432
upland and 150 8ea I s la n d ......... . ................... ..
.........
Baltim ore —To Liverpool, per steamer Uletermore, 1,076........
1,076s
To Bremen, per steamer Crefeld, 1,536 ......... ........................ . 1,5 36
To Hamburg, per steamer Arabia, 2 5 0 . - . . . ...............................
250
P h ila d e l p h ia — To Liverpool, per steamer Tnd ana, 144....... ..
144
493
San F rancisco —T o Japan, per steamer Gaelic, 493............
T otal ..................................................... ........................................... 128.325-

To H am burg—A pril 23—Steamer
Steamer Hispania, 928.

143.0
143 0
143.0
143.0
111.0
144.0

Germania, 78 0 ....... A p ril 29—

N e w O r l e a n s - T o L iverp ool—April 3 6 —Steamer Tampio in, 5,294 . . . .

April 27—Steamer Yucatan, 3,1 60___April 30—Steamer T exan,
3 ,1 1 0 .

To Havre—A pril 28—Steamer Dalian Prince, 7,000.
S a v a n n a h —To St. Petersburg -A p r il 28 —Steamer City o f Belfast, 3,9 50
upland and 100 Sea Island
B r u n s w i c k —To L iv erp ool—April 28—Steamer Guido, 11,'11.
No r f o l k —To Hamburg—April 24—Steamer Hobraou, 1.065.
To Rotterdam —A pril 28—Steamer Dora Foster, 250.
Boston —l o ulverpo d—April 2 3 —Steamer Oeplialouia, 98
April 2 4 Steamer Canada. 2 1 4 ___April 2 6 —Steamer Sagamore, 240 . . .
April 27—Steamer Armenian, 1,505.
To Yarmouth—ADril 2 7 —Steamer Yarmouth. 100.
BALTIMORK-TO Liverpool—April 24—Steamer Vedamore, 104 upland
and 589 8ea Island.
To Havre—April 2 4 —Staamei Sapphire, 500.
To Bremen—April 2 4 -S team er D read en,2,195...A prll 29—Steamer
Bonn. 1,527.
To H am burg—April 2 8 —Sterm er Strathnevis, 299.
P h i l a d e l p h i a - T o L iverp ool—April 27—Steamer Peunland, 193.
S eattle -T o Japan—A pril 23—Steamer Tenshin Maru, 1,725.

Ootton freights at New York the past week have been
as followt.
Satur.

Conti­
nent,

2

,

G a l v e s t o n — To H avre—April 2 6 —Steamer W aite Cross, 7.833.

Ureal
Britain

Spinner*' stock Oct. I
la k teg * So April 1___

l x iv

Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down t o
1,297,
the latest dates:
715

T h e c o m p a r is o n w it h la st y e a r is m a d e m i r e s t r ik in g by *
b r in g in g to g e th e r th e a b o v e to ta ls a n d a d d in g t h e a v e r a g e
w eofclv c o n -ii m o tio n u p t o th is t im e f o r t h e t w o y e a rs.
Oei-1 Us April 1.
.Suits o f S-00 ibi. m e A,
0OO# i&mWert

[ vo l.

Mon.

T«es.

Wednes. Thurs.

Fri

!
181
Liverpool, asked. d,
18t
18t
181
18t
*
...
...
....
Do
............ d.
30 i *
301*
30 d
301*
30d
H avre................... c.
1
Do ...................e.
25-27>«i 25-27>sl 25-2783'
Bremen............... A- 25-271*1 25-271*1
...
...
...
Do
..............d.
!
251
25i
25*
251
251
H a m b u r g .......... d.
i
no
....
....
*—*
....
..........d.
Do
25 f
251
25t
251
25$
Am sterdam ........ e.
0
Bj
Seval, v. Hamb..d. 26 use
21ms
26128
251fS
331
5
381
381
38i
D o v. H u ll...d .
381
....
....
:
Barcelona........... A.
;
hi
hi
*6
G e n o a ................. d.
351
|
35i
351
35 t
35t
Trieste................. d.
j
A ntw erp..............d.
\i
7«(
7SI
!
G hent,v.Antw ’ p.d.
p«t
%4
9«t
A nd 5 per cent.
1 Oenta net per 100 lbs.

THE CHRONICLE.

Ma t l, 1897.]

L iverpool .—By cable from Liverpool we have the following
statement o f the week’s sales, stocks. &o., at that port.
A pr. 9

Apr. 1 6

Apr. 2 3 .

A pr. 3 0 .

83%c., f.o.b. afloat, for No. 1 hard; 82c., f.o.b. afloat, for No..
1 Northern Duluth; 80%c., f.o.b. afliat, for No. 1 Northern
New York, and 79}£c., f.o.b. afloat, for No. 2 hard winter.
D A IL V

3 4 .0 0 0
7 3 .0 0 0
6 1 ,0 0 0
5 9 .0 0 0
Bales o f the w e e k .......... bales.
1,000
1 ,4 0 0
1 ,5 0 0
1,000
Of which exporters took ___
200
1 ,4 0 0
1,000
1,000
Of whioh speculators t o o k ..
5 5 .0 0 0
5 4 .0 0 0
3 2 .0 0 0
6 4 .0 0 0
Sales A m erioan..........................
8,000
6,000
7 ,0 0 0
6,000
A ctual e x p o rt.............................
5 9 .0 0 0
5 5 .0 0 0
68.000
7 0 .0 0 0
F orw arded..................................
Total stock—Estim ated.......... 1 .2 7 3 .0 0 0 1 .2 5 8 .0 0 0 1 .2 5 4 .0 0 0 1 ,2 0 6 ,0 0 0
Of whioh American—Estlm ’d 1 .1 3 4 .0 0 0 1 . 1 1 1 . 0 0 0 1 .1 0 0 .0 0 0 1 ,0 5 7 ,0 0 0
5 2 .0 0 0
5 7 .0 0 0
66,000
2 9 .0 0 0
Total Import o f the week.
3 1 .0 0 0
3 9 .0 0 0
1 8 .0 0 0
4 8 .0 0 0
Of w hich A m erioan.___
7 8 .0 0 0
6 9 .0 0 0
9 8 .0 0 0
9 4 .0 0 0
A m ount afloat...................
6 5 .0 0 0
5 8 .0 0 0
8 5 .0 0 0
8 0 .0 0 0
Of whioh A m erican .___

The tone of the Liverpool market for spots and futures each
day of the week ending April 30 and the daily closing prices
of spot cotton, have been as follows,
Spot.
Market, (
1:45 p. M. ]
Mld.Upl’ds.
Spec. A exp
Futures.
M arket, f
1:45 P . M.J
M arket, )
4 P. M . ]

Saturday Monday. Tuesday. Wed*day Thursday
F a ir
b u s in e s s
d o in g .

4632
8,000
500

S te a d y .

G ood
b u s in e s s
d o in g .

H a r d e n ’g.

S te a d y at
1 -6 1 a d ­
vance.

A c tiv e .

4732

4%

4 14

12,000
500

12,000
1,000

15,000
1,000

S te a d y
at an
advan ce.

S te a d y at
p a r tia lly
1 -6 4 a d v .

* 318
12,000
1,000

G ood
dem and.

Fruiay.
E a sie r .

4

TO on.

A p rll-M ay..
M ay-Ju ne..
Ju ne-July..
Ju ly .-A u g ..
A ug.-Sept..
Sept.-O ct...
O o V N o v ...
N ov.-D eo...
D eo.-J a n ...
J a n .-F eb ...
Feb.-M ch...

P .M .

1 1:4 5
P.M. P . M .

d.
4 05
4 04
4 02
4 02
401
3 62
3 57
3 50
3 48
3 47
3 47

4
4
4
4
4
4
3
3
3
3
3

d.
05
05
04
03
02
00
57
51
49
47
47

4
4
4
4
4
4
3
3
3
3
3

d
09
08
08
07
06
03
60
54
51
50
50

T uew .

500

S te a d y .

W e d . 1T h u r s .

F r l.

4

1 :4 5
4
1 :4 5
4
1 :4 5
1 :4 5
4
P . M . p . m J p . m . P . M . P . M . P . M . p .4m . P . M . P . M .
4
4
4
4
4
4
3
3
3
3
3

d.
09
08
07
06
05
02
60
53
50
49
49

4
4
4
4
4
4
3
3
3
3
3

d.
10
09
08
07
06
03
60
53
51
49
49

4
4
4
4
4
4
3
3
3
3
3

d.
09
08
07
06
05
02
59
52
50
48
48

d.
4 12
4 11
4 10
4 09
4 04 05
3 62
3 55
3 52
3 51
3 51

4
4
4
4
4
4
3
3
3
3
3

d . 1 d.
1 1 4 12
10 4 11
0 9 4 10
08 4 10
0 7 4 09
04 4 06
6 1 3 63
54 3 56
52 3 54
50 3 52
5 0 -3 5 2

4
4
4
4
4
4
3
3
3
3
3

d.
11
10
09
09
08
05
62
55
53
51
51

4
4
4
4
4
4
3
3
3
3
3

d.
10
10
09
09
08
05
61
54
52
51
51

4
4
4
4
4
4
3
3
3
3
3

NO. Z

(fat.
83%
8 2 1a
82
79
8 0 i,

d.
10
10
09
08
07
04
61
54
52
50
50

BBD

W IN T B B

Mo**.
803s

Tuet.

....

c3
2
o
a

78%
75%
76^

C L O S IN G

P S IO B S O P

May d elivery........... .„~. e. o
July delivery..................
~ ..oc..
September d eliv ery ___
. . . . oo..

NO.

Z

Mon.
29%
31
32%

8 a t.

The prices of futures at Liverpool for each day are given
below. Prices are on the basis o f Uplands, Low Middling
clause, unless otherwise stated.
S a tu r.

P H IC K S O P

W H EAT.

Wed.
77%

Thurs.
77%

Pri.
78%,

76%
72%
74i«

7 6 1e
723*
74%

77%
74%
757g

There has been a quiet speculation in the market for Indian
corn futures and prices have weakened under the more
pacific advices received relative to the situation at the Far
East and in sympathy with the decline in wheat. To-day,
however, there was a fractional improvement in prices fol­
lowing the stronger turn to the wheat market, and the close
was steady. In the spot market only a limited volume of
business has been transacted and prices have weakenedslightly, closing with sales of No. 2 mixed .at 30%c. delivered
and quoted at 31}^c. f. o. b. afloat.
D A IL Y

Q u ie t a n d Q u ie t a n d Q u ie t b u t Q u ie t b u t Q u ie t b u t Q u ie t b u t
ste a d y .
ste a d y .
ste a d y .
ste a d y .
ste a d y .
ste a d y .

A p r i l 2 4 to
12 i«
A p r il 30.

C L O S IN G

..c .

%

10.000

S te a d y
a t an
advan ce.

857

30%
31%
33%

M IX E D

T u es

OOBN

W ed.

Thun

29*4
30%
3 2 1*

30 \

*• i.
29^4
31
32%

29H

32%

There has continued a quiet speculation in the market for
oats for futui^ delivery, and there has been a slight weaken­
ing in prices in sympathy with the depression in other grains.
At the close, however, there was a steadier tone to the mar­
ket, as there was some buying by shorts to cover contracts,
The net decline in prices for the week was J^c. Business in
the spot market has been moderately active and prices have
held steady. The sales to-day included No. 2 mixed at 23c. inelevator and No. 2 white at 27c. in elevator.
D A IL Y

C L O S IN G

P B IO B S O P N O . Z

Sat.
May delivery.................o . 23%
July d eliv e ry ................... o. 2 3 7e

M IX E D

OATS,

Mon.
Tues. Wed.
22%
H oli- 22
23 day.
22%

Thun.
21%
22%

Fri,.
22
22%

Rye has been in fairly good demand but at easier prices,
Barley has been quiet.
The following are closing quotations :
PLODS.

M n e .._ ............» bbl. %2 1 5 9 2 85 P atent, w in t e r ....... $ 4 60® 4 85
Superfine..................... 2 50® 3 35 C ity m ills e x tr a s ___ 4 80® 4 90
Extra. No. 2 ............... 2 95® 3 50 B ye flour, su perfin e.. 2 30® 2 75
Extra, No. 1 ................ 3 10® 3 75 Buokwheat f lo u r ................ ® . . . .
3 4 5 9 4 25 Corn m e a l O leare............ .
Straights.................... 4 10 9 4 35
W estem & o .......... 1 70® 1 7 5
Patent, sprin g.......... 4 15® 4 40
1 80
B randyw ine..........
[W heat flour In saoke sells at prloes below those fo r ba rrels.]
GBATN.

B R E A D S T U F F S .
F r i d a y , April 30, 1897.
The activity of demand in the market for wheat flour has
disappeared, business during th 3 past week having been slow,
as buyers and sellers have been apart in their views. The
former, owing to a sharp break in wheat values, have mate­
rially lowered their bids, while the latter have held fairly
strong in their views and have been reluctant to grant con­
cessions to do business. At the close the market was quiet
but steady. City mills have been quiet but about steady.
Rye flour has had a fair sale at steady values. The demand
for corn meal has been quiet, but no changes have been made
in values, closing steady.
There has been a fair degree of activity to the trading on
the market for wheat futures, but at a decline in prices, as
the advices received from the Far East indicate an early set­
tlement of the present troubles, and this prompted liquidating
sales by “ longs.” The net decline in prices for the week is
2%@2%c.
Saturday there was a firm market. Foreign
advices were stronger and were accompanied by buying or­
ders; this induced buying by local operators, and at the close
prices showed an advance of l^'S2*^c. Monday prices started
on their downward course. The advices received on the war
situation were more pacific, and this, together with weaker
foreign advices prompted general selling under which prices
declined 3@4-'. Tuesday wns a holiday. Wednesday there was
a further break of 2%@2JgC. in prices under continued sell­
ing by longs as a result of the weaker foreign advices. Thurs­
day the changes in prices were unimportant. To-day the
market turned stronger. There was fairly active buying for
foreign account during early ’Change, and later in the day
reports of an active export business stimulated a demand
from shorts to cover contracts, and the close was firm at an
advance of li^@l=go. for the day. A fair expirt business
has been transacted in spot wheat here and at outports during
the week, and at the close demand was active, the sales re­
ported to-day amounting to 400,000 bushels, principally for
forward shipment. Prices quoted for wheat to arrive were:

Wheat—
Spring, per b a s h ..
Red winter No. 2 ..
Red w in ter___. . . .
Northern, No. 1 ...
0
—a llie d , per bu.
White......................
No. 2 m ix ed ..........
Vo. 2 w h ite_______

Corn, per b o sh —
e.
e.
80
Weet’ n m ix e d ....—
86
Nominal.
No. 2 m ixed...........
85
80
W estern y e llo w ...
82
83%
W estern W h ite___
21 (t> 24
R ye—
32
W estern, p er bush.
25
24
23
State and JerB ey..
27 -a 28
B arley—W estern----F eedin g..........

0.
29
2900^
30
30

0.
32ia
313#
37
33

36 '9
39 &
44
27% ®

42
42
46
32

The movement of breadstuffs to market as indicated in the
statements below is prepared by us from the figures o f the
New York Produce Exohange Thereosipts at Western lake
and river ports for the week ending April 24, and since
Aug. 1, for eaohof the last three years, have been as follows:
Receipts at—

Wheat.

Flour.

Barley.

Oats.

Corn.

Bye.

Bbls.imbs BushA>0 lbs Bush. 5 6 lbs Bush.32lbs Bush. 4 8 lbs Bush.56 lbs
C h i c a g o ..........

4 6 ,3 1 7

4 6 ,7 3 5

4 7 0 ,8 5 0

1 , 1 1 5 ,9 5 5

M ilw a u k e e .

5 3 ,8 0 0

9 0 ,0 5 0

1 3 ,6 5 0

6 3 ,0 0 0

7 3 ,0 0 0

1 0 ,8 0 0

D u l u t h ..........

5 7 ,7 8 0

5 7 5 ,2 9 1

7 ,0 1 0

3 0 .6 2 2

5 ,0 4 0

M i u n e a p ’ lis

671

1 ,0 1 3 ,8 7 0

1 5 ,1 7 0

1 8 .0 2 8 -

1 2 3 ,2 0 0

7 9 ,0 3 0
0 ,0 0 0

793

5 0 ,5 8 7

1 5 1 ,6 0 3

D e t r o i t ...........

3 .3 0 0

1 7 ,0 4 9

1 3 ,9 7 3

1 7 ,5 1 1

C l e v e l a n d ..

710

4 0 .3 8 0

8 531

1 7 ,4 0 0

S t. L o u is ...

2 5 ,0 2 5

6 1 ,0 8 0

2 9 9 ,7 4 5

1 4 7 ,4 7 0

9 .0 0 0

8 ,0 8 3

6 ,8 5 0

3 ,0 0 0

3 8 7 ,3 5 0

1 8 2 ,3 )0

9 ,8 0 0

2 ,4 0 0

4 6 ,0 0 0

2 7 0 ,5 0 0

5 5 ,0 0 0

T o t .w k .’ 97

1 9 4 ,2 4 0

1 . 9 3 6 ,0 4 1

1 0 3 0 ,4 3 2

1 . 0 9 1 ,3 3 6

2 4 0 ,2 8 2

4 7 ,2 5 1

S a m e w k .’90

2 7 3 ,0 9 0

2 ,2 0 2 , 0 1 0

2 ,1 '8 ,6 5 3

2 .3 5 1 ,8 2 0

3 0 4 ,4 13

0 0 ,2 7 1

S a m e w k .’ 95

2 0 3 ,1 9 8

1 ,5 0 9 .3 1 4

1 .1 7 0 ,0 1 3

2 ,0 5 5 ,2 5 6

2 4 0 ,6 9 0

4 9 ,8 3 0

1 8 9 6 -9 7 . ..

8 . 5 4 5 . 4 3 2 1 3 0 ,4 4 6 ,3 7 5 1 2 0 .9 5 4 ,6 7 6 1 3 0 ,5 0 8 ,8 0 8

3 4 ,0 0 0 .7 0 9

0 .1 8 1 ,7 9 7

1 8 9 5 -9 6 . . .

8 ,7 2 1 , 2 9 0 1 7 3 ,1 9 3 .2 1 4

9 4 ,0 8 0 ,0 0 7

1 1 1 ,6 4 4 .3 3 1

3 4 ,7 9 4 7 3 3

8 ,2 4 5 , 4 0 8

1 8 9 4 -9 5 . . .

9 ,1 3 8 , 8 2 7

6 0 ,6 0 0 ,2 0 9

0 9 , 7 8 1 ,7 9 5

3 0 , 0 3 5 .3 1 1

2 .1 8 1 ,0 0 2

T o i e d o ............

P e o r ia

..........

K a n s a s C it y

1 ,7 0 0

Since Auq.1.

1 2 7 .2 2 1 .8 3 1

The receipts of flour and g n ln at the seaboard ports for the
week ended April 24, 1897. follow:
Hour,
bbls.

Wheat.
bush.

Corn,
bush.

N o r fo lk & N . N e w s

8 1 ,0 5 6
3 3 ,7 7 4
7 ,4 2 1
4 0 ,5 3 2
2 4 ,2 3 3
4 ,3 6 0
8 ,1 1 1
2 3 ,0 2 7

S t . J o h n . N . B ...............

1 7 ,4 7 1
6 .1 0 0

1 9 7 ,w 5 0
7 9 ,7 6 2
8 8 .2 1 2
5 ,5 4 1
8 9 .5 0 0
9 .2 2 J
.................
.................
.................
1 0 5 .4 5 3
4 0 .0 0 0

6 9 1 ,6 2 5
2 4 3 ,8 0 2
...............
7 5 1 .2 9 9
1 ,1 8 4 ,9 6 3
1 2 .9 -< 0
487 500
1 8 7 .0 4 2
3 1 5 .:- 2 0
7 7 ,1 4 3
1 7 .0 9 0

0 1 5 .6 9 4
2 7 8 .0 2 1

3 ,0 3 9 . 9 7 0
1 .7 0 1 ,9 3 0

P h i l a d e l p h i a .................
R ic h m o n d

W e e k 1890.

......................

...................

2 4 9 ,6 4 1
2 3 2 ,0 2 7

* R e c e ip t s d o n o t in c lu d e g r a in
p o r t s o n r .h r o u e h o i l t s o f l a d i n g .

p a s s in g

Oats,
bush.

Barley,
bush.

Rye,
bush.

3 9 8 .4 0 0
1 9 1 .3 3 2
2 1 .8 i2
6 0 , 8 n4
6 8 .0 8 0
9 ,2 8 -1
1 7 3 .0 0 0

1 0 7 .7 0 0
3 .0 1 0
2 .1 0 0
* .8 0 0

8 3 ,8 5 0
498
2 ,8 6 0
8 .9 4 9

..

9 3 1 .3 1 0
8 5 9 ,5 8 1

th ro u g h

N ew

..
511

2 0 ,4 0 8
882

.................
1 8 2 ,2 1 0
7 8 .4 7 5
O r le a n s

fo r

9 6 ,0 5 8
3 1 ,9 1 0
fo r e ig n

| Total receipts at ports from Jan. 1 to April 24 compare as
follows for four years:

THE

CHRONICLE,

(VOL, L X IV ,

w .
5.eua,m packages, valued at £393,077. their destination being to the
points specified In the tables oelow:
4 gs&#S
$i,**$,&&
1897.
1896.
tMtf» tm
NSW YORK TO Arum, 20,
i.toi.tu
i iteaa
IMU
W
eek.
Since
Jan.
1.
Week.
Since Jan. 1.
lU,t
WtpM
Great B ritain....... ................
37,»»,W )J
134
1,80!
82
760
E uropean....... ...........
20
1,3*0
S
1.225
from the several seaboard porta for the week Other
1
C h in a ......................................
5,920
33,065
2,675
20,397
Ind ia........................................
1
90S
• a d i e u A p r i l S,S , 1 8 9 7 , a r e s h o w n I n t h e a n n e x e d s t a t e m e n t :
2.450
Barley, Arabia...................... ...............
8,055
1.196
Ptas.
5,571
ttys,
.F lc m r .
(MU.
«r *
bmh.
busb.
A frica......................................
5,764
bush.
bbt$.
b’Mh,
OmS.
5.329
1
j&5 •$&**» frpm— b-:tr1 4 .
304
West
Indies______
______
.
.
.
5,357
a
.5
3
5
0
4
.
0
3
7
141
M
,
3
S
I
4.086
4 0 0 ,> 1 7
0 0 .0 8 4
ms
tm jm
irtfqVtG
54
Maxi o o ................... .................
858
im
7,1*4*1
4
1
)
1,020
£ 3 ,4 6 5
3 3 ,4 2 3
1 7 ,1 7 1
6U
109
2.40K
............ i r * . I f l t
(Jentral A m erica .............
tfjL t9
13
3,373
g
.
5
'M
<
m
1
.
4
S
3
S
1
0
fh U * 4 ^ c b ia u .
if17,727
586
lo a th A m e r ic a ...___ . . . . . .
1,703
15,709
20,6 I t
fe y U M U ft....
45
67
1,500
Other C oun tries...................
10
1,128
........
2 1 ,0 5 0
5 ,6 6 0
........
T lV i.S W
‘> .5 3 5
N * W t»rl<M m (k............... . . .
........
.... ...
...
m o i-j
•••*«»•»
K w f o i k ......... ..............
Total.........................
.
10,272
2 3 .0 4 7
.. ...
78,908
69,641
4,775
K « » v * n N ow # .
' 2 2 .5 3 7
0.100
$!■>«
17.0 4 M
8,750
iSL John..............
4 « .000
China, via V a n cou v er*...
....
13,307
....
U A .8 S 0
10,272
Total.........................
_
_
_
_
_
87,658
4.775
82.948
0 9 ,9 3 7
Set,4 9 5
T#Saa
714
1 8 0 .4 1 0
0 0 9 .1 7 7
1 7 0 ,5 9 0
2 9 ,1 1 0
7 0 3 .2 O 4
6 ,6 5 0
1 6 4 ,5 7 8
:uS M O l l f t H
* Prom ffew England mtlloolnts dlreot
i t
The destination of these exports for the week and since
The value of the New York exports for the year to date has
September 1 , MW, is as below.
been *3,217,807 in 1897 against $8,201,8«5 in 1895.
There has been but an incidental advance in bleached
f&*
■■iv% Sim* *%imu Weak Situ* B*»L rFiwfe Sister Skpt cottons, where a ticket has moved into line with the higher
Apr. U .
1.18 96.
Apr. ai. i, m m
w<*k ««4 *in&$ A p i L l , 1W&,
bush.
basti,
bush,
bush.
m $l. 1 U—
"*&&.
bbts,
prices noted last week, but the general tone for medium
510.382 30.016,105 2.633.762 61.375.808 and fine grades is decidedly firm. The demand has been
I2teft«4 Kingdom xtU tfS W 8 ,8 »
£06.183 S,807.137 2,105.877 01,275.832
Oon m m u ....... i i.o 11
o;ii . m
8.38*3
164.528 fairly good, but generally for such lines as remained at un­
10,110
■
11,700
607.978 changed prices.
V»>« In «* # _ . .
703.500
There is no perceptible improvement in
.............
201.634
B?tt_
MW
172,735
Sales of brown sheetings and drills have im­
SH
1,611.736 low grades.
839,321
Ollier oetmirteiu
31®
161,70®
17^500 8,453,006 722.8'H 30,241.772 4,788.575 125.887.400 proved somewhat in volume, particularly in the heavier
To«a.
weights, and the general tone is firmer, but not as yet to
164.878 8,457.058
437.318 28.048,789 1.103,458 04.787.046
,
The risible supply of grain, comprising the stocks in the extent of practically helping prices, although prevailing
granary at the principal points of accumulation at lake and prices are more readily paid. Cotton flannels are steadier
this week, considerable business having been done since the
seaboard port>, April 24, 1897, was as follows;
auction sale. No change in cotton blankets. Denims are
Wtunt,
Rye.
0%U
Corn
Bar leu
In store at
bush,
bush
bush,
bush
bush.
still quiet, but not easier to buy than before, and other
H * t V o r * .. ........
760.000
1.177.000
130,000
221,000
3.131,000
Do
a flo a t ...........
135,000
22,000 coarse, colored cottons are generally without change. Kid10,000
finislied cambrics have a firmer tendency. There has been
2513,000
117,000
805.000
mboo
707,000
a quiet business in printed fabrics this week without special
36,000
Oo
» 8 o » t...........................
113.000
5.131.000
‘ 00,066 feature. Ginghams have also been featureless. Regular
C5JSOMO....................... . 0.010.000
1,246,000
7,
170,000
Oo
A f lo a t ......
........
3,000
*38,66 ‘ f lint cloths have been neglected and remain nominally
X U t u k M . . . ...............
238,000
449,6b0
1,000
Do
a f lo a t ......
........
9-16c. A quiet business has been done in odd goods, with a
900,066 l , 1 3 i ’,00{
*52.000
2,048,OOO
M t t t * * ........................ 7,400,000
steadier tone at the close.
.Do
a f lo a t ..,..,
........
1*311,000

*30,000

54*660

*80,000

" *4.000

‘ 28,000

2 C * a i i l V . . V . " 360,000

009.000
40.000

Do

a f l o a t . . . . . .................. ...

d o o tn iia U ..... .. .

.

....

B o sto n .. ...............
80,000
T o r o n to ........................
1*0,000
M o n tr a a t.... . . . . . . . . . .
581,000
P h ila d e lp h ia ,..............
100.000
P e o r ia . . . . . . . . . . . . . . .
22.000
lo d ia n a p o U fi. . . . . . . . . .
71.000
K a sa a a C i t y . . . . . . . . . . .
186,000
B a lU to o r # ..................
440,000
M inn e%p o ll* ... . . . . . . .13,413,000
D a Ml*aU#ippi R tT er.
3,000
1,898,000
O a L a k a a ^ ........... .
On c a n a l a n d r l r e r ................
T o ta l A p r, 24,1807.36 201,000
T o ta l A p r. U . IW 2H 979.O 0G
T o ta l A p r, 25,1890 58^30,000
TvUI A p r. 2 7 ,1H K 65.775,000
T o ta l A p t 28,18^4.6*5.584,000

2,000

912.000

*£0.<Xwi
l.tOx' 00
2 0 .0 0 0

86.000

101.000
76,000

1 ,^ 0,000

189.000
3,107,010
21.715.000
24,1 g8,000
15.156.000

11.107.000
1.3.115.000

“ e.obb
03,000

15,000

12,000

’ ’i .b b o

868.000

*70,00*6

1,000

’ *9,666
” *6,bbo

319.000
61.000

72.000
58.000

177.000

U0.000

922.000
3.000

2,833,000
13.711.000
13.657.000

9.737.000
6.217.000
2.198.000

1,000

0 1 .0 0 0
3 9 .0 0 0

297,000
3.526,000.
8.030.000
1.510.000
151.000
384.000

2,009
*45,00f

1,00

1897.
Stock o f P rin t O lo t k t A pr. 24
A t Providence, 64 squares.
At Fall R iver, 64 squ ares.. 204.000
At Fall R iv er, od d sizes___ 333.000

io.ouL
46.0U

64,00
7,001

693,000
3.078.000

0

1.037.000
450.000

to
o *?
gs

237.000

ify ?

'

P ;a

I S

i-M-J tO*-»
O -d C l
O'
it- o © co

ta

cooo
c o -o
to c o
CO

3
to

© to

1

£ §
w *o

to
tOOQOCJi
v j *&. d © to
> .c o u » o » d
*0 WtyutACO
W H H 50M

d
t c tO
d<»
woo
c ec n
CO 00

M
C O -M O d tO
© to t o H* V*
c o to to
to
t v *0 w

ot

1
to
2

*-•1-1 CO
to
— a t to
COOOtO WtfA.
cn *-4 © -j o
o » to c o c tid
0 - j*- a o d ©
1 - t o w CC CO

-0

GOCO
W
*e*
fcO GO

it*, w to * • CO
A jttC O H tO
Cn
A © tO

C
M
- 03
8 $

w ot
d w
CO©
o ic o
CO©

2 ,s

B'g
w .w
Oo

s
s
« oo
a

r

to

p i.p f.p p x

V d o T -C n

-3 ^ CO © IPs
c o o t a t to

l^ O tO iM C O
d *-* cn css to
h b p p .p C 3

h V o w o i
O Q 'O O O
d © -3 cn I&.

1

O d
M to
CJtCE
«•!**
©CO
OOO
le-Cfl

s-5

-1

•o

P-

to

12.857,732
40,153,084

J*
'1
(-4
CO
-J
CO
cn

IT

“4

to
d
-i
o

165,300
92,996
75,414
79,493
19,385
432,596
3,230,063

s
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*©
W

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§ g
*-to

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to to © to ©

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«4<1 *• •
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15,616
9,122
3,502
5,901
6,512
356,000 40,653 9,783,962
958,977 625,969 37,207,904

There ha* Iwon a considerable attendance of buyers in the
wark.-t tin- week, drawn by the Grant Memorial ceremonies
on Tuesday, but they have not made their presence felt to
hi the primary market. With jobbers it has
berni different , a* they have secured better results in the
volume of Niles than for some time past. The tone of the
....
market for cotton goods 1ms an improving tendency.
I'm- advances reported last week showed this in bleached
cottons, and this week the upward movement in raw cotton
bus imparted a firmer tone to brown goods in a number of
quarters, even where it has not materially accelerated the
demand. Current, prices are paid more readily for quick
supplies, and sellers are, as a rule, less ready to listen to bids
( r !, ,r ward deliveries. There are exceptions still, but fewer
*ban before. Cottons are nearly all on such a low plane
®« values that a material advance in raw cotton means
•ui.-r lusher prices for Roods or serious curtailment of outT':! Bn-.m .S in the woolen and worsted goods departments
has revealed no new feature this week! Collections are
generally fair.
W oolen Goods.—The attendance of buyers in this divi*i>:m ot tin* market has been small this week and spot trade
M'.w, whit r tie- orders coming in through the mails have
limit, d extent. There is little in the way of new
b 'e iv .- alt hough some tine goods are still getting first
order*, and tn«- duplicating demand has not yet developed.
Men,-.wilt,.
j'~ maintain a firm attitude without, howftver, fiiiv iuri her advances in prices being recorded. The
demand t o
c«tton-warp cassimeres and the like is
rtow. Sales «.f i.vercqatingK have been limited but prices
are m unlaw- >1 < loakings ,n moderate request and steady
Flan nrels an firmly h»Jd; stocks indifferent-. Blankets
quie ami nnehaugei. Carpets tending upwards, tapestries
Ken
~ it4 "n ' 7 ‘ 17r -v , higher. Dress goods are mostly
well sold, and. although quiet just now, are very firm.
Ikoiipvrtc -j »rrn (looof—The exports of cotton gooes
from this port for the vieek endii g April 36 were 10,272

i l l

,

M ., A p r il go ,

356.000
85.000

The importations and warehouse withdrawals of dry goods
at this port for the week ending April 29, 1897, amt sine e
January 1, 1897, and for the corresponding periods of last
year are as follows:
_________________________

" '

Y o r k , F r id a y , P .

1894.
A p r 28.
210.000

cramped by tariff uncertainties, but for ready business and
early deliveries there has been a slight increase in general
demand, with a firm tone prevailing.

THE DRY GOODS TRADE.
N ew

18 <*5.
A p r. 27,
124.000
9,000
91,000

I m p o r ta tio n s a n d W a r e h o u s e W it h d r a w a ls o f D r y G o o d s .

85,00

3.293.0

1896.
A pr. 25.
250.000
805.000
546.000

T ota l s t o o k (p ie c e s !.. . . 587,000 1.601,000
224,000 63 5.000
F o r e ig n D ry* G o o d s .—The foreign goods market is still

191*81
,S88't 1

T o la d o .. . . . . .
........ 793,000
Do
a flo a t .....,,
____ _
...............
224,000
Do
a flo a t .................... .

c o p tV b to
K ^ O O H
CO 05 r-* if*, d

a b o M H
^ iM W O c n

p p p p t Q

H H M O M
© cn < i co cn
M ® to CO 00

THE CHRONICLE

May 1, 1897.]

S tate

aap

C ity IUfAftTwr£flT,

TERMS OF SUBSCRIPTION.

Brockton, Mass.—The following bids were received on
April 28, 1897, for the $25,000 of 4 per cent water and $30,000
of 4 per cent sewer bond3 offered by the city of Brockton:
B idder—
8. A. Kean, Chicago, 111.............................. .

The I nvestors ’ •S upplement w ill be furnished without Adams & Co., Boston, Mass .......................
Merritt & Co.. Boston, Mass.......
extra charge to every annual subscriber o f the Commercial Blodget,
N. W. Harris & Co., Boston, Mass..............
F in an cial C hronicle .
The S tate and Cit y S upplement will also be furnished
without extra charge to every subscriber of the C hronicle .
The Street R a il w a y S upplement w ill likewise be fu r­
nished without extra charge to every subscriber o f the^
C hronicle .
The Quotation S upplement , issued monthly, will also be
and

furnished without extra charge to every subscriber of the
C hronicle .

859

Brockton Savings Bank. Brookron, Mass.
E. C. Stanwood *te Co., Boston, M a s s .......
R. L. Dav A Co , Boston, Mass...................
Estabrook & Co , Boston. Mass..................
Deiiz, Donison & Prior. Boston, Mass. ...
Geo. A. Fern aid & Co., Boston. Mass.......
Jose Parker & Co., Boston, M ass............. .
Blake Bros. & Co., Boston, Mass.
___
Jas. W. Longstreet <fe Co., Boston. Mass .
E. II. Rollins <fe Sons, Boston, Mass..........
Lee. Higsinson
Co , Boston. Mass . . . .
Tower, Giddmgs & Co., Boston, M a ss....

Water.
...107*5400
... '07*4375
...1 07-3000
...107*0000
...106*7870
. 106*5670
...108*5200

Sewer.
104*750
104*590
104*180
104-0625
104*450
103*787
104*160
104*157

103*299"
103*150
...105*8130
103-571
...1^5*810
103*430
,..105*520
103*588
(for both issues) $58,118

The bonds were awarded to S. A. Kean. The securities are
TERMS for the C hronicle with the four Supplements
above named are Ten Dollars within the United States and dated May 1,1897, and the interest is payable semi-annually
on
the first days of May and November. The water loan is
Twelve Dollars in Europe, which in both cases includes
issued in the form of coupon bonds of §1,000 each, maturing
postage.
_____
May 1, 1927, and the sewer loan in the form of registered cer­
Terms of Advertising—(Per ineli spare.)
tificates of §1,000 each, maturing at the rate of §1,000 per
O n etim e.................................. $3 50 I Three M onths (13 tim e s)..$25 00 annum from May 1, 1898 to 1927, inclusive.
One Month
(4 tim es).. 11 00 Six months
(26 tim es).. 43 00
Brooklyn, N. Y.—Bonds Proposed.—The city of Brooklyn
Tw o M onths
(8 tim es).. 18 00 |T w elve Months (52 tim es). 58 00
The above terms fo r one m onth and upwards are for standing cards.
will soon issue water-works improvement bonds to the amount
of §375.000. It is stated that this amount will reduce the
New York City.—Regarding Financial Condition o f City.— borrowing capacity of the city to about §110,000.
The following financial statement of New York City, as pre­
Brownsville, Tenn.—Bonds Proposed.—It is reported that
pared by Mr. I. 8. Barrett, General Bookkeeper, shows the the city of Brownsville proposes to issue bonds for school pur­
amount of the debt, sinking funds and cash on hand on the poses.
Burlington (la.) Independent School District.—Bond
dates indicated :
Feb. 2 8 ,1 8 9 7 . Offering.—Proposals will be received until June 15. 1897, by
Classification of B onded D eb t .
D ( c. 3 1 ,1 8 9 6 .
this
school distriot for the purchase of >16,000 of 4j£ per cent
Funded Debt—
$
$
1. P ayable lio m tlie Sinking Fund,
school-house bonds. The securities will be dated July 1,1897;
under ordinances o f the Comm on
interest will be payable semi-annually on the first days of
2,500,600 00
Counoil..............................................
2,500,600 00
Mav and November and the principal will mature July 1,
2. P ayable from the Sinking Fund,
1907, subject to call after July 1, 1893.
under provisions ot Chapter 383,
Section 6, Laws ot 1878, and Sec.
The bonded debt of the school district at the present time
176, New York City Consolidation
9,700,000 00 amounts to §47,700, against which a sinking fund of §4,800 is
A ct o f 1882....................................... 9,700,000 00
held. The assessed valuation is §5,000,000; the real value is
3 .Payable from the Sinking Fund,
under provisions o f C hapter 383,
estimated at about §25,000,000.
Section 8, Laws o f 1878, and Sec.
Callaway County, Mo.—Bond Call.—Bonds of this county
192, New York C ity Consolidation
A ct o f 1882. as amended hy Chap­
bearing 5 per cent interest and maturing in from five to
89,781,065 25 twenty years from August 1, 1887, numbered 79 to 90, 92 to
ter 178, Laws o f 1 8 8 9 __________ 88,584,604 44
4. Payable from the Sinking Fund,
102, 104 to 138, 113 to 163, 166, 167 and 174 to 227, inclusive,
under provts ions o f Chapter 79,
9,322,100 00
for $1,000 each; also 71 to 100, inclusive, for §500 each, have
Laws o f 1 8 8 9 .................................. 9,822,100 00
5. P ayable from the Sinking Fuud,
been called for payment at the State Trust Company or the
under provisions o f the Consti­
National Bank of Commerce, New York City, or at the Union
tutional Amendment adopted
38,977,000 00 Trust Company. St. Louis, Mo. Interest on the securities
N ovem ber 4 ,1 8 8 4 ......................... 33,770,000 00
445.000 00 ceases May 1, 1897. The above bonds are to be refunded by an
6. Payable from taxation....................
445.000 00
7. Payable from taxation, under the
issue of §150,000 of 4 per cent bonds of $1,00) each, to mature
several
statutes
authorizing
35,190,102 87 in twenty years from date of issue, §100,000 subject to call
their issue......................................... 35,273,802 87
8. Bonds issued for local im prove­
after five years, and the remainder after seven years.
9,818,448 61
ments after Juue 9, 1385.............. 9,718,448 61
Cape May, N..J—Bond Offering.—Proposals will be received
9. Debt o f the annexed territory or
until 8 o’clock p. m .. May 6, 1897, bv the Finance Committee
W estchester County (Chapter
477.000 00 for the purchase of §12,000 of 5 per cent bonds of the city of
329. Laws o f 18 74).........................
477,000 00
10. D ebt o f the annexed territory o f
Cape May. The securities will be of the denomination of §500
Westchester County (Chapter
718,134 27 each: interest will be payable semi-annually on the first days
934, Laws o f 18 95)........................
616,134 27
of May and November, and the principal will mature in
Total funded d ebt........................195,907,690 19 197,429,451 00 twenty years from date of issue. No bid for less than par
Deduct sinking funds for the rewili be considered.
demption o f debt (investments
a u d e a sh )............... ........................ 77,030,401 63
78,191,236 01
Carrollton, tta.—Bond Offering.—Proposals are now being
received by the city of Carrollton for the purchase of bonds to
Net funded debt.............................. 118,277,198 56 119,238,214 99
the amount of $15,000, to be issued for the purpose of erecting
Temporary Debt Revenue Bonds.
1. Issued under special law s............... 2,425,726 96
2,458,860 29 and equipping a school building. The securities will bear
2. Issued in anticipation o f taxes
of 1896. ..........................................
7,600 0 0
............ interest at the rate of 5 per cent, payable annually at the
Hanover National Bank, New York City, and the princi­
3. Issued in anticipation o f taxes
o f 1897...............................................
............
4,557,600 00 pal will mature at the rate of §1,000 yearly, beginning
July 1. 1912. The denomination of the bonds will be not less
2,433,326 96
7,016.466 29
Total revenue bonds.
than §500 nor more than §1,000. Principal and interest will
be payable in gold.
C ash City Treasury am ount................................................................. $5,829,529 73 The city has at present no debt of any kind. The assessed
Sinking fund for redemption o f the city d ebt............... 1,933,786 31 valuation of real estate for 1895 was §308,542 ; personal prop­
Sinking fund for redemj)t.ion o f thecity debt, No. 2 ___
433,050 21 erty, §333,640 ; total, §642,182.
The actual valuation is esti­
Sinking fund for the paym ent o f the interest on the
The population in 1890 was 1,451
city debt..................................................................................... 1,531,957 63mated at about §1,250,000.
and in 1896 it was estimated at 2,500.
Total cash (February 2 8 ,1 8 9 7 ).......................................... $9,728,323 88
Chelsea, Mass.—Bond Offering.—Proposals will be received
until 4 o’clock P. M., May 11, 1897. by Thos. B. Frost, City
B o n d P ro p o sals a n d N e g o tia tio n s,—We have re­ Treasurer, for the purchase of $50,000 of 4 per cent park
ceived through the week the following notices of bonds bonds. The securities will be of the denomination of §1,000
recently negotiated and bonds offered and to be offered for each, dated April 1,’ 1897 ; interest will be payable semi-an­
nually on the first days of April and October, at the office of
sale.
the City Treasurer of Chelsea, and the principal will mature
Atlantic City, N. J. —Bonds Authorized.—The City Council October 1, 1936. The total debt of the City of Chelsea at the
has authorized an issue of §10,000 of sidewalk bonds and present time amounts to §1,219,700. This includes §139,700
of special assessment bonds, a park loan of $10,000 and a water
§12,000 of water bonds,
Bedford ( onnty, Va.— Bowl Netcs.—A report has been debt of §300,000. On January 1, 1897. the sinking funds for
published to the effect that Bedford County had placed a loan the regular city debt amounted to $98,017 and for the water
of $5,000 with the First National Bank of Roanoke at G per debt to $29,916. The assessed valuation for 1896 is : Real
cent. We are officially advised that this is not true, but that estate. §20,523,550 ; personal property, §2,384,544; total, §22,the Board of Supervisors has authorized a committee to bor­ 913.094. The tax rate (per $L,000) is $16 80 ; the populationin
row §5,000 from the First National Baok of Lynchburg at 0 1895 was 31,295.
per cent, which has not as yet been done,
Choteau County, Mont.—Bond Offering.—Proposals will be
Bonldcr, Col.—Bond News—E. K Stafford, City Clerk, received until 12 o’clock noon, June 7, 1897, by E. Frank
reports to the Chronicle that the queslion of issuing electric- Sayre, County Clerk, Fort Benton, Mont., for the purchase of
light bonds was not put to a vote of the citizens of Boulder.
Bonds for that purpose were for a time under consideration, §92,000 of 6 per cent coupon bonds. The securities will be
but it was decided not to issue the same.
of the denomination of §1,000 each; interest will be payable

TH E CHRONICLE,

880

sk tu « n untly on the first days o f January and July, and the
pritici. il will in tture in twenty 'years from date of issue,
j. ,p ,-i
,;Bi| jtfu»r fifteen years. The lout is to be issued
foi th<‘ purpose of refunding certain bonds now due and eonvertin^ varku# outstanding warrants.
y ; v ' rial notice o f this bond offering teiti he found dsetebree

in this D epa rtm ent.

Claremont, X. U,—Temporary Loan,—A report has been
published that the town of t'lareaiont has sold §12,000 of
i» i.ds. \Y. have been ofilolally informed that this is incorrect
nut that a t<rapor*ry loan of $17,000 has been placed with
certain municipal investors at 3 per cent,
Clark field, Minn.—Bond Bale.—On April 26, 1897, the
$4,000 of 0 per cent public-ball bonds o f the village of Clarkut-Kl were awarded to F. H. Wellcome of Granite Falls,
Minn., t< r $8,040. The other bids received were:
, . . n (> .V Co . CHIW.IKO, m ........................................................ $3,034 25
- A k H-, t ttte igo. til .......................... ....................................... 3,000 00

The securities are datetl May 1, 1897, and will mature in
fifteen years from date of issue.
(. torment County. Ohio.—-Bond O ffering ,—Proposals will
be received until May 4, 1897, by Clermont County for the
purchase of $20,000 of 5 per cent bridge bonds. The securiiies will be of the denomination of §500 each and will mature
in nine years from date of issue.
Colorado Springs, Col.— B on d s D efea ted .—Ch&s. E, Smith,
City Clerk, rt ports to the Chronicle that at a recent election
the* eitir.ms of Colorado Springs defeated a proposition to
issue § >0,000 of school bonds. The city expects to do a good
deal of sewer construction during the next two or three
months but docs not expect to issue bonds to cover the cost of
the work,
Cumberland, Md.—Bond Election,—On May 17, 1897, the
citizens of Cumbeiland will vote on the question of issuing
bonds to the amount of §20,000.
Curwensvllle, Pa -B onds Proposed.—It is reported that
this municipality will soon issue stTeet-paving bonds to the
amount of $15,000,
Helpline, Ohio.— Bond Offering.—Proposals will be received
until 12 o'clock roon. May 17, 1897, by this municipallyfor
the purchase of §10,000 of water-works bonds. The securities
will he of tbe denomination of §1,000 each and will mature at
the rate of §1,000 per annum from May 1, 1898 to 1607, in­

clusive.
Do Huy ter, N. Y . —Bond Sale.—The §14,000 of 4 percent
10-20-year water bonds of De Ruyter were awarded to Dan’l
A, Moran & Co.‘, of New York City, The other bids received
were:
Bertxon
i. New York, If. T........................................ 1 0 0 - 1 2 5
Farsen, Leach 4 Co.. New York. N. Y......... .........................100-008
Detroit, Mich.—Bond Sale.—The Commissioners of the
Sinking Fund have purchased 850,000 of 4 per cent thirty-year
stm t-improvement bonds at ll0 -079, These securities were
formerly awarded to Estabrook & Co, of Boston, Mass,, at
110 079, but were not accepted by that firm on account of some
questions, as to their legality. These legal objections were set
a.-i It- by the deci .ion of the Wayne County Circuit Court on
August 35, 1896,
Dander, X, Y.—Bond Safe.—Dundee bas sold §3,400 of
school bouds to local investors.
Duval County, Fla.—Bond News.—A report has been publi -htd tu the 1 rfect that Duval County bas sold $25,000 of 5^
per cent bonds. County Treasurer Gustav Miller reports to
the Chronicle that no bonds have recently been issued by
the county but that the city of Jacksonville sold an issue of
bonds to the amount of $78,500.
Galveston County, Texas.— Bond Sale —On April 22,1897
the following bids were received for the purchase of the
#200,<v 0 of 5 per cent court-house bonds:
K s. Mint of Galveston, Tex., a premium of §4,000; W, G,
S'-> t! ,-(f Houston, Tex . a premium of §4,000; Illinois Trust &
Saving!. Bunk and Mason, Lewis & Co. of Chicago, 111., a
prt rmurn of 83,197: also 2 per cent interest on the proceeds if
1H: ms call with them until needed by the county, or 3 per
r<-Tii ns:.- rest if left on their three, four, five and six months’
<•.-nM- at.-, of d.-p. sit: the Lamprecht Bros, Co. of Cleveland,
'dit-.. a premium of §2,500; J. B. Oldham, a premium of
f-M 'In. ix, Denison ,& Prior of Cleveland, Ohio, $204,800
ti-tt. 1 »nde to be taken on July 10 and interest from April 10
to accrue to purchasers.
The bond- wire awarded , 0 E, S. Flint.
Tb«- M-cutiiic* are of the denomination of §1,000 each; inDr.-t w paynije --m i-annun!ly on the tenth days of April and
October, and the principal will mature in from ten to forty’
years from date of b»me, both principal and interest being
fwyaide at the office of the County Treasurer at Galveston.
(Gens Falls. NT. Fnlon Free School District.—Bond
Mfe.—DnI April 29, !8;,*7, school bonds of this district to the
amount of ?-», >»* «- r<- sold at 100’5$8*5^, The securities bear
•per cent interest and mature at the rate of §3,000 annually',
.•egumlBg D'CemUir 1, 1**99. Sixteen thousand dollars of the
Mmp »»"»* '*<’ *'• sold m D -comber, 1896, at lOOWS.
Gfnp eland Cal. Irrigation District.—Bond Offering.—
;

^ received until 11 o'clock a , m,, May 4, 1897,

‘ '• .'hreotore for the purchase of §35,000 of

LYOL. L X IV .

Hartford, Ccmt.—Bend Call.— A notice has bean issued by
C i'y Treasurer C C. Strong that §370,000 of new ten to
twenty-five-year bonds of the town of Hartford, issued Jan­
uary 1, 1880, numbered 1 to 270, inclusive, will be redeemed
to-day. The securities mature Jsuit try l, 1905, subject to
call after December 31, 1839, They ceased to bear interest
on April 80, 1897,
Hatfield, Mass.—Bonds Proposed.—The town of Hatfield
proposes to issue bonds to an amount not exceeding §30.000
for the purpose of extending the water system to North Hat­
field.
II aver lock, Neb,—Bond Offering.—Proposals will be re­
, ceived until 0 o'clock r. m. May 15, 1897, by this municipality
for the purchase of §5,000 of 0 per cent fifteen-year school
bonds.
Helena, Mont,—Bond Sale.—On April 27, 1897. the §161,500 of refunding 5 per cent bonds of the city of Helena were
awarded to Farson, Leach & Co., of Chicago, 111., at 100-025.
The securities are of the denomination of §500 each, dated
January 1, 1896; interest is payable semi-annually and the
principal will mature as follows: S8.000 at the rare of §500
per annum from January 1, 1900 to 1950, inclusive, and §153,500 on January 1, 1916, both principal and interest being pay­
able at the office of the City Treasurer of Helena or at the
Third National BaDk of New York City. The bonded debt of
the city, including this issue, is $391,500 assessed valuation
(estimated at % actual value), §12,656,788. Tne population
is estimated at 15,000.
Holland, Mich.—Bond Offering.—Proposals will bo received
until 7 o’clock p, m . May 11, 1897, by ffm , O. Van Eyck, Citv
Clerk, for the purchase of §18,000 5 per cent water bonds.
The securities will be of the denomination of SI,000 each: in­
terest will be payable annually at the office of the City Treas­
urer of Holland and the .principal will mature Feb. 1, 1908.
The total bonded debt of Holland at tbe present time
amounts to §69,456. The tax valuation for 1896 is §1,328,320,
which is estimated at less than one-half of the actual value.
Huntington (W. Va.) School District.—Bond Offering.—
Proposals will he received until 12 o’clock noon, May 10,
1807, by James K. Oaey. Secretary of the Board of Educa­
tion, for the purchase of §15,000 of 6 per cent school bonds.
In erpst on the seeurides will be payable annually and the
principal will mature in thirty years from date of issue, sub­
ject to call after ten years. Both principal and interest will
be payable at the National Park Bank of New York City.
Hyde Park, Mass.—Bond Sale.—The §150,000 of 4 per cent
1-30 year sewer bonds of Hyde Park were awarded to E, C.
Stanwood & Co. at 105-40. The other bids received were :
•lose P a rk e r & C o., B o s to n . M a ss.................................................... ... ] 0 4 -9 1 7 9
G eo. A. F ern alii & C o., B oston , M ass .................................................1<’ 4 7 1 9 0
C nslnnan, F i s h e r * P h elps, B o sto n , M a ss....................................... 1 0 4 -6 9 0 0
A dam s & Co., B oston , M a ss.....................................................................1 0 4 -6 5 7 0
N . W. H a rris & C o., B o sto n , M a ss................. ......................................1 0 4 -5 7 5 0
D . W , H o w la n d , B oston , M ass...............................................................1 0 4 -5 4 10
E. H. R o llin s & S on s, B o sto n . M ass.................................................... 1 0 4 -5 1 60
B la k e B ros, & Co., B o sto n , M ass .............................. -........................1 0 4 -4 4 0 0
D ietz. D en ison & P r io r , B o sto n , M a ss
......................................... 1 0 1 -3 7 7 0
E sca b ro o k & O o „ B o sto n , M a s s ............................................................. 1 0 4 -3 4 1 0
R, L. D a y & C o , B o sto n , M a ss..............................................................1 04 -3 1 9 0
Jas. W . L o n g s tre e t & C o., B oston , M a ss........................................... 1 0 4 -2 3 4 0
T h ird N a tion a l B an k, B o sto n , M a s s ................................................... 1 0 4 -1 8 0 0
8. A . K ea n , C h ica go, III ...........................................................................1 0 1 -1 2 50
I.e la n d , T o w le & C o., B o sto n , M a s s .................................................... 1 0 4 -0 7 0 0
B lo d g e t, M e rritt * C o., B o sto n , M a ss.................................................1 0 1 -0 4 0 0
B . H . G a y & C o ., B o sto n , M a ss............................................................ 1 0 3 -6 4 0 0

These bonds are of the denomination of §1,000 each, dated
May 1,1897; interest is payable semi-annually at such bank
or trust company in the city of Boston as the’Board of Sewer
Commissioners may select.
Indiana County, Pa.—Bonds Authorized.—This county has
been authorized to issue $44,500 of 4 per cent funding bonds;
§22,000 of which will become due January 1, 1900, aud the
remainder January 1, 1901.
Jacksonville, F la.—Bond Sale.—The city of Jacksonville
bas sold $73,500 of bonds, the proceeds of which will be used
for the rtdemption of outstanding securities and various
other purposes.
Jersey City, N. J , — Bonds Authorized.—The Board o f
Finance of Jersey City has authorized an issue of §100,000 of
park bonds. The securities will bear interest at a rate not
exceeding 4J.J per cent and will mature in thirty years from
date of issue. The bonds will be secured by an annual sink­
ing fund of 2 per cent of the entire issue,
Karnes County, Texas,—Bond Sale.—On March 4, 1897,
§6,SCO of 6 per cent 6-40-year Karnes County bridge bonds
were sold to J. B. Oldham of Dallas Texas, for §0,600. In­
terest on the securities is payable at the office of the'County
Treasurer or at the First National Bvnk of Austin, Texas.
Lake Butler, Fla,—Bonds Proposed.—This municipality is
contemplating the issuance of bonds for the construction of
water works and an electric-light plant.
Lancaster, Pa.—Bond Sale.—This city has sol d §10,000 of
4 per cent 10-year school bonds to local investors.
Lead, Sonth Dakota.—Bonds Authorized.—The citizens of
this municipality have voted in favor of a proposition to issue
§15,000 of 7 per cent twenty-year city-hall and jail bonds,
Long Island City, N. Y.—Bond Sale,—This city has sold
to Doner & Dener, attorneys of New York City, §29,500 of
per cent two-year improvement bonds at par. ’
Lowell, Mass.—Bond Offering.—Proposals will be received
until 1 o’ clock r. u., May 4, 1807, by Charles S. Coburn, City

May 1. 1897.]

THE CHRONICLE.

Treasurer, for tbe purchase of 875,000 of 4 per cent sewer
bonds. The interest on the loan will be payable semi-annually.
The issue will be in the form of ten registered bonds of $7,500
each, payable respectively in ten successive years from date of
delivery; or, in one bond"of §75,000, payable in ten annual
instalments, as the purchaser may prefer.
Bids will also be received at the same time for the rate of
discount on $100,000 of six months’ notes to be issued in antic­
ipation of the collection of taxes for the current year.
Marshalltown (la.) Independent School District.—Bond
Offering.—Proposals will be received until 2 o’clock P. H. May
15, 1897, by tbe Treasurer of this school district for the pur­
chase of §57,0C0 of 4J^ per cent school bonds. Interest on the
securities will be payable semi annually and the principal
will mature in ten years from date of issue, subject to call
after five years.
Martin, Tenn.—Bond Election.—A proposition to issue
bonds to the amount of $25,000 to pay the cost of water-works
and an electric light plant will be submitted to a vote of the
citizens of Martin on May 4, 1897.
Manry County, Tenn.— Bond News.—J. B. Granbery,
Trustee of Maury County, reports to the C hronicle that the
Uounty Court, which will meet July 1,1897, will determine in
regard to the proposition to issue §50,000 of funding bonds.
Meridian, Miss.—Bond Offering.—Proposals will be re­
ceived until 12 o’clock noon May 27, 1897, by I. A. Mooser,
City Clerk, for the purchase of $50,000 of 6 per cent sidewalk
paving bonds. The securities will be of the denomination of
§1,000 each, dated April 1, 1897; interest will he payable semi­
annually and the principal will mature April 1, 1917, both
ptincipal and interest being payable at tbe Seaboard National
Bank cf New York City. No bid for less than par and accrued
interest will be considered, and each piopcsal must be accom­
panied by a certified check for $1,000.
The present bonded debt of the city of Meridian is $209,400;
assessed valuation, §4.569,506; tax rate (per $1,000), $15.
Middletown, Conn.—Bond Sale.—On April 29, 1897, the
$215,(00 of 4 per cent water-works bonds of the city of
Middletown were awarded to the Middletown Savings Bank
at 107 50. Fourteen other bids were received. The securities
are cf tbe denomination of $1,000 each, dated July 1, 1897 ;
interest is payable semi annually on tbe first days of January
and July, atd the prircipal will mature July 1, 1922, both
principal and interest being payable at the office of the City
Treasurer of Middletown.
This loan was authorized to provide means for the construc­
tion of a new and additional system of water supply by
means of reservoirp, and will be issued in the form of regis­
tered or ccupon bonds, as the purchaser may desire.
Milwaukee, Wis.—Bond Offering.—Proposals will be re­
ceived until 10 o’clock a . XL, May 18, 1897, by the Commis­
sioners of Pullic Debt, care of William J. Fiebrantz, City
Comptroller. f< l the puichase of $200,000 of 5 per cent library
and mils* um b nds. Tbe securities will be of the denomina­
tion of $1,000 each, dated Jan. 1,1897; interest will be payable
semi-annually on the first days of May and November and the
principal will mature at the rate of $10,000 per annum from
May 1, 1898 to 1917, inclusive. Principal and interest will be
payable at tbe office of tfce City Treasurer of Milwaukee or at
the office of Morton, Bliss & Co., New York City.
Montana.—Bond Sale.—The $100,000 of 6 per cent Univer­
sity bonds cf the State of Montana have been awarded to
Farson, Leach & Co. of Chicago, 111., at a premium of $25.
The securities mature in thirty years from date of issue, sub­
ject to call after twenty yeats.
Newark, N. J.—Bonds Authorized.—The Common Council
of Newaik has authorized an issue of $300,000 of library
bonds.
New Brighton, Pa.—Bond News.—George Davidson. Bor­
ough Treasurer, reports to the C h r o n i c l e that the $60,000 to
$80,COOof sewer bonds proposed by the people of New Brigh­
ton will probably not be issued this year.
Newton, Mass.—Bond Sale—On April 29, 1897. the $100,C00 of 4 per cent sewer bonds were awarded to Estabrook &
Co. of Boston, Mas?., at 109-17. The securities are ot the de­
nomination of $1,COOeach; interest is payable semi annually
on the first days of May and November at the National Re­
vere Bank of Boston, Mass., or at the office of the City Treas­
urer of Newton, and the principal will mature May 1, 1927.
Newtown, N.Y .—Bond Sale—On April 28, 1897, the town
of Newtown received bids for the purchase of $620,000 of 4J^
er cent road improvement bonds maturing January 1, 1925.
he securities were awarded to Walter Stanton & Co, of
New York City at ill.
Newtown (N. Y .) Union Free School District No. 2.—
Bond Offering.—Proposals will be received until 8 o’clock
p. M., May 14, 1897, by Chas. H, Georgi, President of the
Boatd of Education, for the purchase of $15,000 of 4 per cent
school bonds. The securities will be of the denomination of
$1,000 each, dated July 1, 1897; interest will be payable semi­
annually on the first days of January and July, and the prin­
cipal will mature at the rate of $1,000 per annum from July 1,
1904 to 1918, irclusive.
No bid for less than par will be considered and each pro­
posal must be accompanied by a certified check for 3 per cent
of the amount of the bid.
Bonds Proposed.—The Treasurer of the Board of Education
reports to the CHROSICLE that this school district will in the

861

near future issue $15,000 of bonds in addition to tbe above
issue.
Niles (Ohio) School District.—Bond Offering.—Proposals
will be received until 3 o’clock p. m ., May 3, 1897, by the
Board of Education for the purchase of §10,000 of 5 per cent
' school bonds of this district.
Northfield, N. Y.—Bonds Proposed.—The town of Northfield proposes to issue road improvement bonds to the amount
of $40,000.
Oneonta (N. Y.) Union Free School District No. a.—Bond
Offering —Proposals will be received until 2 o’clock p . m . May
lit, 1897, by the Board of Education, at the office of Alva Seybolt, Secretary of the Board, for the purchase of $10,000 of 4
per cent bonds of the district. The securities will be dated
Jan. 1, 1897; interest will be payable annually on January 1
at the Wilbur National Bank, Oneonta, N. Y., where the
principal also will be payable. The bonds will be of the de­
nomination of $500 each and will mature as follows: $500
yearly from January 1,1899, to January 1,1902, inclusive, and
$2,000 each year thereafter to and including 1906. The loan
is to be issued for the purchase of a new school site and erect­
ing a school building thereon.
Tbe above is part of an authorized issue of $24,300; tbe re­
mainder will probably be offered for sale about July 1,1897,
The total indebtedness of the school district, not including
this issue, is $6,250; its assessed valuation, according to the
last assessment roll, is $1,533,761, and the population is esti­
mated at 7,000,
Orange, Texas.—Bond News.—The City Council has passed
an ordinance to cancel $11,000 of the $25,000 of school bonds
and issue 11 bonds of §1,000 each to provide funds for the
construction of a water-works system.
Ottumwa (la.) Independent School District. —Bond Sale.
—The $30,000 of 4 per cent bonds of this district were awarded
on March 3, 1897, to the First National Bank of Chicago, III.,
at a private sale. Interest on the securities is payable semi­
annually and the principal will mature March 5, 1907, subject
to call after March 5, 1902, both principal and interest being
payable at the First National Bank of Chicago, IU.
Owyhee County, Idaho.—Sale Postponed.—E. L. Ballard,
Chairman of the Board of County Commissioners reports to
the Chronicle that no satisfactory bids were received for the
purchase of the $61,000 of 6 per cent 10-20 year funding bonds
of Owyhee County and that the sale has been postponed until
July 12, 1897.
Peabody, Mass.—Bond Sale.—On April 29,1897, the $52,000
of 4 per cent refunding water bonds of the town of Peabody
were awarded to Jose Parker & Co. of Boston, Mass., at
102 679. The other bids received were :
Salem Savings Bank, Salem, Mass...................................................102-570
B'oc’ gett, Merritt & Co., Boston, Mass............................................102-310
x
/.D en ison A Prior, Boston, M ass............................................102-197
Adams A Co., Boston, Mass .............................................................102-192
N. W. Harris A Co., Boston, Mass....................................................102-1875
Third National Bank, Boston, M ass............................................... 102-130
Uen. A. Feruald A Co., Boston, Mass..... ........................................102-130
E. H. Rollins A Sons. BostOD, Mass................................................ 102 077
K. L. Day A Co., Boston, M a s s ....... ........................................... . .102*076
Blake Bros. A Co , Boston M ass......................................................102-075
Estabrook A Co.. Boston, M a s s ...................... ...............................102-035
Jas W. LoDastreet A Co., Boston, M a ss...................... .............. 101-963
Parkinson A Barr, Boston, M ass.................................................... 101-162

The securities are of the denomination of $1,000 each, dated
May 1, 1897; interest is payable semi-annually on the first
days of May and November, in the City of BostOD, and the
principal will mature at the rate of S4,000 per annum from
May 1, 1898 to 1910, inclusive.
Bond Sale.—The $29,000 of bonds held by the Commis­
sioners of the High Service Sinking Fund of Peabody were
awarded to Adams & Co. of Boston, Mass., for $30,895. Eight
other bids were received.
Pittslmrg, Pa.—Bond Sale.—The $20,000 of water bonds
recently sold by this city constitute part of a loan of $6,250,000 made in 1895. This whole loan, less $625,000 reserved
for the sinking funds, was sold to James Carothers of Pitts­
burg at 108 72. These bonds have been delivered to Mr.
Carothers, as the money was needed for the improvements
contemplated by the loan. Up to the present time the total
amount of bonds delivered is, in round numbers, about
$4,000,000.
The loan bears interest at the rate of 4% per cent and was
made in such a way as to make one-tenth of the whole loan,
or $625,000. redeemable every three years, beginning with
May 1, 1898.
Pittsfield, Mass.—Dowd Offering,—Proposals will be re­
ceived until 3 o’clock p. m . May 12, 1897, by E. H. Kennedy,
City Treasurer, for the purchase of $170,000 of 4 per cent
school bonds and $100,000 of 4 per cent water funding bonds.
Both issues will be dated May 15, 1897, interest will be pay­
able semi-annually on the fifteenth days of May and Novem­
ber and the principal will mature at the rate of $10,000 per
annum, beginning with May 15, 1898. Both principal and
interest wilt be payable at the National Bank of Redemption
of Boston, Maes.
Polk County, Iowa.—Dowd News.—H. C. Murphy, County
Treasurer, reports to the C h r o n i c l e tbat the $50,000 of 6 per
cent lr4 year insane asylum warrants of Polk County, which
were awarded to Farson, Leach & Co, of Chicago, 111., at a
premium of $507 50, are to be issued as the work on the build­
ing progresses. The loan is to be paid from the proceeds of a

TH E

8B2

CH RONICLE

[VOL, LX1V,

U* icvii i upon the taxable property of the county for 1897, accordance with the decision of the case of the National Bank
whitth tax will be collected during the years UM, 1899 and of the Republic of New York against the city of St. Joseph
as found in Vol. 31 Federal Reports, page 216.
Sand Beach, Mich.—Bond Offering.—Proposals will be
fort«!iiont!i, Ohio.—Bund Salt*—The 810,000 of 5 per
; ;u v, ,i -ihtH.lltonds of the city of Portsmouth were received until 8:40 P. m, to day fty this village for the pur­
awarded w t b - First National Bank of Ohiilicothe, Ohio, at a chase of $10,iM)0 of 5 per cent water bonds. Interest on the
ptenuutn of $5'.?, Out owing to some discrepancy iu the adver- securi ies will be payable semi annually and the principal
they w ill have to be resold. This wilt probably be will mature in thirty years from dit-e of issue, subject to call
after fifteen years.
done is about three weeks.
Sayre, Pa.— Temporary Loan.—The Borough Council has
Put-ln-Hay. Ohio —B»nd Sale.—The village of Put in-Bay
has sold
75 o ld Oer cent park bonds. The seeuriu s ordered that $1,000 be borrowed from the Sayre Banking Co.
ar„ dated April 15, 1897, interest is payable semi-annually The loan will probably be eff eted about the 1st of May, will
and the principal wtil mature ;n follows: $1,083 75 on April bear interest at the rate of 6 per '-ent and will become due
I , I8t»3, and $8.HU at the rate of $1,000 every two years from about the 1st of September, botii principal and interest to b e
April 15, 1904 to I9i8 inclusive, both principal and interest payable at the Farmers’ National Bank of Athens, Pa.
being payable at The Union SivingsBankCompany of Toledo,
Seattle, Wash.—Loan Proposed.—Will H, Parry, City
Ohio, The bonds are of the denomination of $1,000, except Comptroller, reports to the CitaoxiCLK that next June the
one bond of $1,088 75.
city of Seattle will probably fasue $21,000 of 7 per cent war­
Richmond H ill, N. Y.—Bond Offering— Proposals will be rants in anticipation of the collection of taxes.
received until 8 o’clock P, m„ to-day, by the village of Rich­
Santa Barbara, Cal.—Bond Sale.—The $50,000of 5 percent
mond Hill, for ihe purchase of $70,000 of 4 per cent gold water bonds of Santa Barbara were awarded to N. W. Harris
*mvt-in)provetnent bonds. The securities will be of the & Co. of Chicago, 111., at 102‘09.
,tr!'."tumini’.n of SI,( 00 each, dated May 1, 1897: interest will
South Hadley Palls, Mass.—Temporary Loan.—This town
I-,- pavablc st mi annually on the first days of Slay and NovemU r. am! the principal will mature at the rate of $5,000 per has placed an eight months' loan of $20,000 with the City
per cent interest.
annum beginning with May 1, 1987. No bid for less than par National Bank at
South Park, 111.—Bonds Proposed.—The Board o f Com­
will In; t,\ n.-idertd and each proposal must be accompanied by
a certified check for not less than 5 per cent of the amount missioners of South Park has dtcided to present a bill to the
State Legislature authorizing an fasue of 55.000,000 of bonds
bid for.
Rocky River (Ohio) Special School District.—Bond Of- for improvements, the proposition to be submitted to a vote
wiil be received until 4 o’clock P, M. to­ of the people.
Spartanburg (S. C.) School D istr ic t.— Bond Offering.—
day *.-v C. S. Cro-iley, President of the Boird of Bducatiou,
for the purchase of $4,000 of 6 par cent school bonds. The Proposals will ue received until about July 1, 1897, by this
s "euriiit will he of the denomina ion of $390 each, dated May district for the purchase of 810,000 of 0 par cent coupon
bonds to be issued for the erection of a new scnool house.
1. 1-A7, and will mature a', the raw of $300 per annum from
The.securiiies will be of the denomination of §500 and ma­
May 1, 1898 to 19u3, inclusive.
ture
in thirty vends from date of issue. They will bs a lien
Si. Joseph, Mo.-—Bond ,VWcs —The Oitv Counselor has
submitted an opinion to the Board of Aldermen of Sr. Jos -pn upon all school distri t property.
Spring ville, N. Y.— Bond Sale.—'This village has placed a
to the effect that they have the right to pay off the 6 per cant
bon is amounting to 8878,4011 at par and interest, although the loan of $38,000 with Geo, P. Smith o f Tons wands, N. Y „ at
bonds do not mature until I'JnS. It is claimed that this fa in par. The issue is in the form of 4 per cent thirty-year bonds.
N E W

L O A N S .

|

N E W

N E W

§ (3 1 8 ,0 0 0

SS< 3 0 , 0 0 0
P E L H A M

L O A N S .

M A N O R ,

N.

Y

,

will be received until May 1st, at
aljthfc thirty o'etock i\ uu* at which .time, at the Trus-

ttCHfm*«f tbc Villageof Pelham'Manor, lasaid

YUlstfv. t «*v Nil4 bHfowil) be opened for the purchase
■Of
FO LK PER CENT G O LD BON DS.
or any pant ihertnif, o f the Village o f Pelham Manor,
We*t«-h»-»wr County. New York. autlioriMd and is#*>«*!. by the Board o f Sewer Osmualidoneni o f said
pximtmnt to ihe pmwimam o f the Genera]
fl#*r«f Ac* o f
and its amendments.
The •add tM.nd# will mature in twenty years from
M m? i*L 1W7„ the interest to lee paid semi-annually,
on May t»t and November 1st. at the office o f the
K«iekarb«>e*er Trust Company, New York. Said
to tm coupon or registered at option o f purehsuwjfr. The i>u\m to be add.rc**cd to John H. Bey,
T
Pel ham Manor, New York, and to ho
marked on envelope* " Pir&pojml* for Sewer Bonds.*
Each hid meat he aeoatnpanted with a certified check
pmtMb'i* t<» the order o f *al<J Treasurer, for two per

C h o t e a u

G O L I)

4 % R^AD BONDS.
D a ted A p r il 1 , 1 8 9 7 .

C o u n t y ,

M o n t . ?

6 PER C EN T BONDS.

Sealed proposals will be received at the office o f
the County Clerk o f Choteau County, Montana, at
Fort Benton, the county scat o f said county, up t o
noon o f Monday, June ffh, 38m7, fo r the purchase o f
assessed valnat!on)................
1,849,00000
SO&.OOO coupon bonds o f said county, said bonds
Population, 150,000.
A «reat part o f Queens County is included in the to draw interest at the rate o f six per cent per
G R EATER NEW \ ORE, and within the porn on so annum, payable semi-annually, in January and July
included are practically all o f the highways for the
o f each year, redeemable in fifteen and payable in
improvement o f which ihose bonds are issued.
Legal for investment lo r Trustees and Savings twenty years after date o f issue. Said bonds are
Banks in New York State.
issued fo r the purpose o f converting outstanding
Price and Particulars on Application,
warrants and redeeming other oonds o f said cou nty
now due and payable. Said new bonds will be issued
in denominations o f $1,000 each, and bids will he
received for the whole or any part o f the aforesaid
197 Superior St., Cleveland, 0.
amount. Proposals must be endorsed '* Proposals
fo r Bonds” , and addressed to E. Frank Sayre,
County Clerk, Fort Benton, Montana. T he right to
reject any or all bids is reserved.
By order Board County Commissioners.
E. FR A N K SAYRE , County Clerk

The Lamerecht Brother^’ Co.
WHANN & SCHLESINGER
M U N I C I P A L

M ANHATTAN ISLAND
B O N D S .

REAL ESTATE

Board o f
2

W 4LL

STREET.

S A F E

NEW

YORK,

IN V E S T M E N T S .

m m
SEND F O R

C i t y

jg- 1 0 , 0 0 0
S .

C . ,

6 Water W orks & E le ctric L ig h t
Bonds*
t l ** yawt*Af

0

In te re s t A p r il a n d O c to b e r.

DtlSDH I*11 s»v|lJt| T>?,
W ILLIAM It. HANIIAEE.
HENRY IE & STAPLE It,

I O N ,

0

Assessed valuation....,.......... ..... ..... $85,345.111 00

r . CAB.hm MERRY,

N

, 0

Real valuation............................2w0.000,dv0 00
Total debt (a little m ore than 2% o f

M-4* ’I Pkl-WAM MAAim, N. Y„ March 23d. l8»7.

U

^

D u e A p r il 1, 1 9 1 7 .

o f ttw Total amount o f the bid. The n«tot i«
to tejeei may or all hid.#,

JOHN e , 1IA1EN,

9

QUEENS COUNTY, N. Y ,

FOUR PER CENT
GOLD SEWER BONDS.
PflOROMALB FOR SEW ER BONDS IN THE
VILLA-*.; E m F PELHAM MANOR, N. Y.

^

L O A N S .

wmm%, #. c.. win ««n r m y

a n d

L IS T

C o u n t y

D IE T Z , D E N IS O N
33

W. J. Hayes & Sons,
BANKERS,

T© F, M. F A lilt. Chairman,

Union, 9, C,

BtrtH't Hallway Bonds, imri other bIjitt-grade In­
vestment*.
BOSTON.MASS,,
7 Ejreliauuc Place.

C lev ela n d . O h io,

31 1 - 3 1 3

E N

T .

CASS R E A L T Y
C O R P O R A T IO N .
2 0 9 , 21 1 a n d 513 3

P R IO R ,

DEALERS IN MUNICIPAL BONDS,
M jtfrb. INOI, “ (firing d i l c # an d tow n# per m ission to

V E S T M

B o n d s .
&

C O N G R E S S STREET** - B O S T O N .
1 0 9 S u p e r i o r S t r e e t , C le v e la n d O*

“ f 8t* Per Con* Rood* t»r W*l«rr Work# and

I N

E a st T w e n ty -T h ir d S tr e e t.

Speaking of Manhattan Island Beal
Estate investment., the "N , Y. Evening
Post” , April 8, 1897, said:
“ * * it is sure in time to become
immensely profitable; for the in­
crease i n the fee value of the prop­
erty will be attended by a greater
demand * * and a relative increase
in rents.”

S u p e r i o r S t.

C«M« l « « i . ■■KBXXETB."

W r ite

or

C a ll

fo r

P a r tic u la r s .

TH E

May 1, 1897.]

863

OHRONI LK

Taylor, Fenn.—Bond Election.—Thecitizensof this munici­ 1899, both principal aud interest being payable at the office
pality will soon vote on a proposition to issue §10,000 of elec­ of the County Treasurer at-Lebanon, Ohio.
tric-light bonds.
Wasco County (Ore.) School District No. 12.—Bond Offer­
Tompfcinsville, N. Y.—Bonds Authorized.— An issue of ing.—Proposals will be received until 1 o’clock p. M. May 15,
1897,
by the County Treasurer for the purchase of §20,000 of 6
§45,000 of 24-year school bonds has been authorized.
per cent school honds. Interest on the securities will be pay­
Tonawanda (N T.) Union Free School District No. 3 .— able semi-aunually and the principal will mature in twenty
Bond Sale. —The §50,000 of 4 per cent school bonds of this dis­ years from date of issue, subject to call after ten years.
trict have been awarded to James H, Rand of Tonawanda,
Waterford, N. Y.— Bonds Authorized.—The Board of Edu­
N .Y .,a t 100 961.
cation of Waterford has au h >r>z d an issua of §20,000 of
Waltham, Mass.—Bond Offering —Proposals will be re­ school bonds.
ceived until 4 o’clock P. M. May 5, 1897, bv E. J. Sandersm,
Watetville, Me.—Temporary Loan.—Tbe City of WaterCity Treasurer, for the purchase of $7,000 of 4 per cent thirty- ville has borrowed §3,000 to $4,00 •of local banks, in anticipa­
year sewer bonds, §6,000 of 4 per cent twenty-year wn'er tion of the collection of taxes. This is part of an authorized
bonds and §5,000 of 4 per cent ten-year building bonds The loan of §20,000.
sewerage and building loans will be dated Jan. 1, 1897, and
Wayne County, III. —Bond Caff.—Notice has been given
the interest willjbe payable on the first days of January and
July. The water bonds will be dated April 1, 1897, and the that the following past-dtm twenty-year railroad aid bonds of
interest will be payable on the first days of April and Octo­ Wayne Countv issued iu 1869 and 1870 are cilled for payment
ber. All the above loans will be issued in the form of coupon on jute 30, 1897, at the American Exchange National Bank
of New York Citv on the First National Bink of Fairfield,
bonds of §1,000 each.
HI., after which date they will cease to bear interest:
Warren County, Ohio—Bond Sale —On April 22, 1897. the
Bonds numbered 13 to 90 inclusive of §1,000 each.
$50,000 of 4J^ per cent bridge bonds of Warren County were
Bonds numbered 74 to 93 inclusive of §500 each.
awarded to Seasongcod & Mayer of Cincinnati, Ohio, for
Bonds numbered 1 to 483 inclusive of §100 each.
$51,603 25. The other bids received were:
West Springfield, Mass.—Temporary Loan.—The city of
German N ational Bank, Cincinnati, O h io..........................—... $51,503 00
8. Kuhn &Snn, Cincinnati, Ohio................. ............................... 51,400 00 West Springfield has made a temporary loan of $30,000.
R oberts & H all, Cincinnati, O hio............ .................................... 51,275 00
Woonsocket, R. I.—Bond Safe.—On April 24, 1897, the
N. W. Harris & Co.. Chicago, 111................................................... 51,268 00
Dietz. Denison & Prior. C leveland,Ohio ................................. 51,177 00 §350,000 of registered gold bonds of the city of Woonsocket
Rudolph K levbolte & Co.. Cincinnati, O h io ......... ............ — 51,157 79
were awarded to Street, Wykes & Co., of New York City, at
Parson. Leach & Co., Chicago, 111.............. ................ ................ 51,150 00
105 17. The other bids receivtd were as follows:
W. .1. Hayes A 8ons, Cleve and, Ohio.......... ...................... — 5 ',0 9 0 00
B. H. Gay A Co., Chicago, 111............................................ ...........
Mason, Lewis A Co., Chicago, 111.................................................
The Lam precht Bros. Co., Cleveland. Ohio . . . . . . — ...........
Fourth National Bank, Columbus, Ohio.....................................
Spitzer A Co., Toledo, Ohio......... ......................
.....................
E H. Rollins A Sons, Boston, Mass.............................................
Lebanon National Bank, Lebanon, O h io....................................

51,067
51,035
51,015
51,015
50,877
50,769
50,751

00
00
75
00
50
50
00

FarsoD, Leach A Co., New Y ork N. Y ............................................ 104-785
E H. Rollins A 8ong, Boston, Maes .................................................103-910
Lee, HigginsoD A Co., Boston, Mass.................................................103-780
Blodget, Merritt A Co.. Boston, M a s s ............................................103-580
Estabrook A Co. and R. L. Day A Co., Boston, M a s s ......... ........103-327
Blake, Bros. A Co., B oston, Mass................... ................... ..............103-190
Jas W. Longstreet A Co , Boston, Mass ....................................... 103 060

The seeuritus are of the denomination of §500 each, dated
April 22, 1897; interest is piyable semi-annuilly on the first
days of April and October, aud the principal will mature at
the rate of §2,500 every six mouths beginning with April 22,

INVESTMENTS
I n v e s t m e n t

B o n d s

FOR

New York Savings Banks
and Trustees.
L IS T S

SENT

UPON

A P P L IC A T IO N

MEMBERS OF BOSTON AND NEW YORK
STOCK EXCHANGES.

R. L. DAY &, CO.,
4 0 W a t e r Street* R onton.
7 Nannau S tr e e t. N ew Y ork*

The bonds are of the denomination of §1,000 each, dated
May 1, 1897; interest is payable semi-annually on the first
days of May and November and the principal will mature
May 1, 1927.

INVEST M ENT S.

INVESTMENTS

C h ic a so D ra in a g e ..........................................
Des M oin es, l a . (S c h o o l).............................4Ha
M uskegon , .Hieh ........................... .............. 5s
Sout h O m aha, N e b ra sk a .............................7 s
A sh la n d , W in. (G o ld ).................................. 5s
W e st C h ica g o St. K it . (T u n n el)................
F irs t M o rtg a g e.
F O R S A L E BY

C ity o f B oston , M a ss., H e g ........................ 3 ^
Ci ty ol C lev ela n d . O h io, C oup , o r R e g ,.4 s
C ity o f B iu g h a m p to n ,X .Y .,C o u p . o r R e g .4 s
C ity o f N ew B ed ford , M ass., R e g . .. ......4 s
M id d lesex C oun ty, M a ss., C o u p . ............4 s
A full description of either of these issues, with
orices. will be mailed on application.

MASON, LEWIS Sc CO.,

E. H. ROLLINS & SONS,

31 S ta te S t.,
B OSTON .

BAN KERS.
171 L a S a lle St..
C H IC A G O .

AFTER MAY 1ST

19 M IL K
BOSTON.

.

OUR N EW

YORK

SAVINGS BANK AND TRUST
FUNDS.
LISTS MAILED ON APPLICATION

I NASSAU ST. (Cor. Wall).
EDWD. C. JONES CO„
421 CHESTNUT STRE KT.
PHILADELPHIA

L e a c h

C H IC A G O ,
115 D ea rb o rn B l.

&

C o .,

NEW Y O R K ,
‘2 W a ll St

R e m o v a l N o tic e .

so BROA DW A V
vww VOMK.

W

.

H A R R I S

&

M U N IC IP A L BONDS.
<4 N A S S A U S T R E E T .

MAY

I, 189 7,

will occupy their new offices, F irst Floor

Bank of Commerce Building,
31 N A SSAU S T R E E T .

121 Devonshire Street.
BOSTON.
L IS T S SEN T UPON A P P L IC A T IO N .

B lanchard,

BANKERS.

M U N IC IP A L B ONDS

16 Congress Street, Boston.

BOUGHT AND SOLD.
D e v o n s h ire B u ild in g ,

16 S tair Street, B outon, ltlass.

M O R TG A G E LOANS
IN

TEXAS.
In te re st 7 P e r C ent Net.
NO COMMISSIONS charged borrower or lende*
until loans have proven good

Edward I. Rosenfeld,
M U N IC IP A L S E C U R IT IE S .
H ig h -G r a d e W a r r a n t s a S p e cia lty .
Write for List.

No. 6(1 ilroa<bvay, New York.

F R A N C IS S M IT H At CO.,

NAN A N TO N IO . T E X A S .
MUNICIPAL BONDS.
E. C. STANWOOD & C O .1 C. H. Van Buren & Co.
BAN K ERS,

&

BANKERS.

C O ,

BANKERS,

M ASS

Blodget, Merritt & Co.,

STATE CTTY & RAILROAD ROND'
N .

.

BANKERS.

M il l s
F a r s o n ,

.

O F F IC E

TO

SUITABLE FOR

STREET.

W . N . Coler & Co.,

W IL L REM OVE

PUBLIC SECURITIES

.

B A N K E R S AND B R O K E R S ,

0 2 B R O A D W A Y , N E W Y O -„ '.
8TOCKS. BONDS AND HIGH-GRADE
INVESTMENT SECURITIES.
Circular Letter, including Hat of selected Bonds
Mailed Free.

C h r o n ic le

V o lu m e s .

A second-hand set from 1860 to 1895—56 Volumes,
for sale.
W I L L I A M B. D A N A C O M P A N Y ,

7 6 ^ P in e Street* N ew Y o r k ,

TH E

864

nr0L. L-xrv

CHRONICLE.

Hankers and ^rollers 6>ut o f Hem UPorfc.
PHILADELPHIA.

PITTSBURG.

N. Holmes & Sons,
BAN KHBS.

P IT T S B U R G ,

ST A H L & S TR A U B ,

PENV

INVESTMENT BANKERS,

C O B K M P O N D K N T f-

Ban* of .New fo r* . 8 . B. A,
Mr.t NaUinusl Han* o f Philadelphia.

PfTTSBDIHi,

US

SO U TH

F IF T H

ST R E E T ,

CINCINNATI.
Seaso n g ood
8

&

M

ayer,

W , C o r n e r T h ir d an d W a ln u t S t r e e t .,
C IN C IN N A T I, O H IO .

MUNICIPAL BONDS.

High-Grade City, County Town and School Bonds,
♦sued in leading prosperous States of the Union.
*specially adapted for safe and permanent invostnen for 12states and Trust Funds.

(O K K .V K l. B U IL D IN G ),

PA.

P H IL A D E L P H IA .

m i * u r a > n ihti.

[rwin, Ellis & Ballmann,

Whitney & Stephenson,

BANKERS AND BROKERS,

BANK E M AND BROKERS
N o , 67 F O U R T H A V E N U E .

D eal in C in c in n a t i B o n d s ,

O i4«ft

Members N. T. Stock Exchange

T. Mellon & Sons’ Bank,
P IT T S B U R G H , PA.

E.

W.

Clark

& Co.,

N o . ISO S o u t h F o u r t h St.,

CHICAGO

A. O. Slaughter & Co.,
B A N K E R S AND B R O K E R S ,
U S -1 1 7 L A MA1.1.K S T R E E T .

C H IC A G O , I C C S.
Member* Sew Tor* Stock Exchange, Chicago
'U xx exchange and Chicago Board of Trade.

[amieson & Co.,
J«
S T O C K S —B O N D S ,
Member* New York and Chicago Stock Exchanges.
187

DEARBORN

STREET

C h ica g o , I lls ,
Private wire to New York and Philadelphia.

Loeb & Gatzert,
JIORTUAGE BANKERS,
126 L A S A L L E S T R E E T , C H IC A G O .
Mortgages for sale In large an <3small am aunts,
setting Investors 6, 5M and 6 per cent, secured by
Impfeved and income-bearing Chicago city property.
P rin cip al and In terest P a y a b le in G o ld .
CORRESPONDENCE SOLICITED.

Edward B. Smith & Co.,

DEALER IN

BANKERS AND BROKERS

High- Grade In vestm ent S ecurities.

B O U R SE B U IL D IN G ,

Street JRailway Honds a Specialty.

PHILADELPHIA.
W. G. HOPPER.
H. S. HOPPER
Members of Philadelphia Stock Exchange.

Wm. G. Hopper & Co.,

BANKERS,
25 Exchange Street, Providence, R. I.
Commercial Paper, Bonds, Stocks and
Local Securities.

Special attention given to PHILADELPHIA
STOCKS and INVESTMENT SECURITIES.
P. 0. Box 13-18.
Local telephone 160.

Fred. M. Smith,

SOUTHERN.

A U B U R N , JXEW Y O R K ,

7 0 SOUTH S T R E E T ,

W illiam W ilson & Sons, Established 1B02.
W ilson, Colston & Co.,
“
ISOT.

Wilson, Colston & Co.,
Members of Baltimore Stock Exchange,
BAN K ERS.
£ 1 6 E ast B a lt im o r e S tr e e t, B a lt im o r e ,
Investment and Miscellaneous Securities a spec­
ialty, and whole Issues bandied.
Exceptional facilities for dealings in all classes of
Southern Bonds. Loans on Collateral Securities
negotiated.

Makes a specialty of selling all kinds o f Securities
by AUCTION. Stocks and Bonds thoroughly ad­
vertised will bring buyers when it is known the
highest: bidder is the fortunate buyer.

A. Strassburger,
STOCKS

SO U TH ER N

IN V E S T M E N T S .

154 La Salle S t, Chicago, 111.

John W . Dickey,

ST- LOUIS.

BROKER.

Donaldson Bond &Stock Co

AUGUSTA, GEORGIA.
SOU TH ERN

L O U IS ,

MO.

Montgomery, Ala.

BANKS.
F IR S T
N A T IO N A L
BANK
OF M IL W A U K E E .
C A P I T A !,,
SU RPLU S,

A N D

J. E. Crawford 6c Son.
Bono and S tock B rokers .

Street liailwny Securities a Specialty.

80S I-INIS STREET.
S T . LOTTS, M O.

BI.WAKI - WHITAKER.

CHARLES HODOMA*.

Whitaker & Hodgman:

ESTABLISHED 1860.
Correspondence solicited and Information fur­
nished about Southern State, Municipal and Rail
road investment Securities.
Reference—Bank of New York N. B. A.

BOND AN D STOCK B R O K E R S ,

Austin R . Myres,

3 0 0 N e r t l i F o u r t h S tr e e t ,

S A V A N N A H ,G A .
BOND AND STOCK BROKER.
Real Estate Loans.

S T . l.O U lS .

1
-

.
-

* 1 ,0 0 0 ,0 0 1 )
**50 ,00*1

The First National Bank
O F SAN F R A X C I S C O , C A E .
UNITED STATES DEPOSITARY.
C a p ita l, # ] ,5 0 0 ,0 0 0 I B n rp ln *, * 0 3 0 ,0 * 0
8. Q. Mu r ph y , President, JAs. K. L ynch , Cashier
JAMES M o w n , V.-Pres., J. IS. MOFEITT, Ast. Cash
General Bankln* Business. Acoouuts Solicited.

Canal Bank,

C. W . Branch & Co.,
BANKERS AND BROKERS
STATE BANK BUILDING
R I C H M O N D , V A .
Private wires connecting with Washington, Balti­
more, Philadelphia, New York, Boston and Chicago.
New York Correspondents: Messrs. Ladenburg
rhalmann & Co, and Lehman Bros.

.
-

San Francisco.

B R O K E R S ,

R I C H M O N D , V IR G IN IA * .

-

Transacts a General Ranking and Foreign Exchange
Business. Collections receive Special Attention.
;-»3B
OFFICERS:
F. a . BIGELOW, Pres’t.
F. J. Kip p , Cashier.
W m . Bigblow , V.-Pres’t. T. 13. Cam p , Ass't Caahte .
F, E. Krueger , 3d Ass’t Cashier.

S E C U R IT IE S ,

Davenport & Co.,
B A N K E R S

BOYDS B R O K E R

REGISTERED PRIOR LIEN BONDS

AND STOCK BROKERS,

ST.

&

bOUTHERN INVESTMENT SECURITIES,-

J-P. ANDRE’ MOTTU&CCh
N O R FO LK , V A .

*id a m i O live S treets,

H ow ard L ee Cl a r k

Richardson & Clark,

STOCK AND BOND BROKERS,
28 South Third Street, Philadelphia.

USCORrORATID)

tEstablished i«8.)

James R ichardson

Members Phils* and New York Stock Exchanges

In vestm en t B rok ers,

m m

S. D. Loring,
53 S T A T E S T R E E T , B O S T O N .

A. G. Becker ot Co.
O OM M ER CIAL PAPER-

MISCELLANEOUS.

P H IL A D E L P H IA .
Transact, a general banking business. Allows
interest on deposits.
Members o f the Philadelphia and New York Stock
Exchanges, and connected by private wire with
New York.

ufNBHAI, HAKKINft. COLi.KOTIOH.
IN V E S T M E N T *

N o. 3 7 E ast T h ir d * ( ,, C lncI& im tl.O hlo

BANKERS AND BROKERS,

NEW ORLEANS, IiA.
(Successor of N. 0. Canal &■Banking Co.)
C A P I T A L , S I , 0 0 0 ,0 0 6 .
J. C. MORRIS, President. EDWARD TOBY, VlcePreB. EDGAR NOTT, Cashier.
CorTOBpondentB—National City Bank, National
Bank of Commerce, New York; Boatmen’a Bank
St Louis; N. W. National Bank, Chicago; Mer­
chants’ National Bank,Boston,

A

Second-Hand Set o f Chronicle Volumes, from
1866 to 18k6, for sale.
WILLIAM B. DANA COMPANY,
76% Pine Street. New York.