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Q u o ta tio n
- S u p p l e m e n t (Monthly)
- S t r e e t R a i l w a y S u p p l e m e n t (0 ^
I n v e s t o r s S u p p l e m e n t (Quarterly)
1$
S ta te a n d C ity S u p p le m e n t ( « « $
[Entered according to Act of Congress, in the year 1897, by the W illiam B. D ana Company , in the office of the Librarian of Congreep.
SATURDAY, MAY 15, 1897.
V O L . 64.
J H ie
W eek ending May 8.
d ic o u ic le .
PUBLISHED
Clearings ar—
W EEKLY.
Term s o f Subscription— Payable in Advance :
For One Year.............................................................................. $10 00
For Six Sloatlis...........................................................................
6 00
European Subscription (including postage)...................... 12 00
European Subscription Six Months (ineluding postage).
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Annual Subscription in London (including postage)___£2 10a.
S ix Mos.
do.
d o.
do.
___ £ 1 10s.
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The S t a t e
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extra charge t o e v e r y s u b s cr ib e r o f th e C h r o n ic l e .
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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 lis h e r s ,
P in e S tree t, C o rn e r o f P e a r l S treet,
Post Office B o x 958.
NEW YORK.
C L E A R IN G H O U S E R E T U R N S .
The following table, made up by telegraph, etc., indicates
that the total bank clearings of all the clearing houses
of the United States for the week ending to-day, May 15,
have been $989,663,264, against f 1,107,483,697 last week and
$1,016,496,465 the corresponding week of last year.
Week Ending May 15.
Cl e a r in g s .
R eturns by lelegraph.
1897.
1890.
Per Oent.
New York.............................
Boston
.............................
Philadelphia ........... ............
Baltimore................... ..........
Chicago ...... ........ .......... .
8t. Louis...............................
New Orleans......... .
$4 18,567,553
82.192.055
46,208.435
11,095,023
70.459.055
25,113.971
5,457,452
$101,834,000
72,900,431
51,015,519
11,900,081
82,402,503
21,498,030
0,750,651
-2*9
+12*7
-9*3
-7*3
-7*2
+10*8
-19*2
Seven cities, 5 days . . . . . .
Other cities. 5 days.............. .
$695,153,549
129,498,639
$708,434,481
131,147,612
-1*9
-1 +
Tot il all cities, 5 days
All cities, 1 day___ ... . . . . .
$824,052,188
105,011,070
$839,582,093
176,914,372
-1*8
-6*7
Total all cities for week..
$989,063,204
NO. 1,664.
$1,016,490^405 >
-2*0
The full details of clearings for the week covered b y the
above statement will be given next Saturday. W e cannot,
of oourse, furnish them to-day, bank clearings being made
up by the various clearing houses at noon on Saturday, and
hence in the above the last twenty-four hours of the week
have to be in all cases estimated, as we go to press Friday night.
W e present below our usual detailed figures for the pre
vious week, covering the returns for the period ending with
Saturday noon, May 8, 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 one-hundred and ninety-nine
million dollars, and at New York alone the gain is over onehundred and thirty-five millions. In comparison with the
week of 1896 the total for the whole country shows an
increase of 4 ’6 per oent. Compared with the week of 1895
the ourrent returns record a decline of l ’ l per cent, and the
excess over 1894 is 25’7 per oent. Outside of New York the
gain over 1896 is l ’O per oent. The increase over 1895 reaches
4-6 par cent, and making comparison with 1894 the excess is
seen to be 15’2 per cent.
1897.
4890.
(
Atw7.
P . Oent
1895.
1894.
1
xN
’ ew Tor*...........
P h ila d e lp h ia ...
P itts b u r g ...........
B a lt im o r e .......
B u ffalo................
W a s h in g t o n ....
R o ch e ste r..........
S y ra cu s e ............
S cra n ton .............
W ilm in g to n . . . .
B in g h a m to n ..........
T o ta l M id d le ....
62T.T10.5IS
00.147 20o
Jfl.567.rn
10.021.38<
3.SJ1.77:
2,314.895
1.7S7.602
1,159,U3i
736,4 U
659,91>
1«'3.40(
/ 31.4 *y.4=1
c83.fl48.l01
6S.8U4 09l
16.3Pl.o6t
11.6I1.1HS
5,(*93.23]
2.359,74=
1.043.39C
1,007.802
S21.28
740.748
321.40
090,010.588
+b*6
0-8
-1 0 :
-1 1
+25-5
+5-0
001.*01.521
6» 662 13c
J3.W47.3ir
12,714,'; 97
M< C.4 71
2,12.‘,3o5
1.6i'1,378
1,044.809
713 460
652.783
383.700
7d3.3u2.781
B o s to ti................
P r o v id e n c e . . ..
H a r tfo r d ........ .
N ew H a v e n . . ..
8 p r in g £ o ld .. . . . . . .
W o r c e ste r ...............
P o r tla n d ..................
F all R iv e r ..............
L o w e l l .....................
N ew B e d fo r d .........
T o ta l N ew E n g..
107,734.50
5.20 j,20(
2,811,855
1,031,2ft
1.447.13f
1,455,797
1,277,872
802,785
034.608
489,3 7J
123,578,418
97.175.606
4.942.0.K
2.389,011
1 602,48;
1,404.32<
1.5«4.13f
1.420.815
1.057.l4f
924.207
610.917
113,004,098
-MO-0
+5-;
+18*1
-t-2'5
—1*2
—3*1
—10*5
—13*4
—31 S
-2 0 9
+ 9*3
99.014.445
6,397.000
2.480.801
1.50B.7H
1.104.7W
1.325,771
1.211.100
682.887
643.081
630,298
112.107,112
C h icago............. .
C in cin n a ti...............
D e t r o it .............
C le v e la n d ...........
M ilw a u k e e ..............
C o lu m b u s ...............
I n d ia n a p o lis .........
P e o r ia ....................
T o le d o ............. . . . . .
G rand R a p id s .....
D a y to n ...............
L e x in g t o n ..............
Saginaw ...................
K ala m a zo o.............
A k r o n ............ .........
Bay C ity ..................
R o c k fo r d ................
S priugileld, O hio..
C a n to n ............ . . . .
T o t. M id. W e s t’r
94,388.005
18,U3.J5(
6.040.83C
5,064,195:
0,553.12c
3.1)53.001
2.059,73*
I,737.80t:
2.054,43i
7w»,547
538,041
305,010
268,087
250,021
234,000
. 02,270
107,380
149,220
183,431
138,710,275
103,230,483
12.211 850
0.505.231
6,090,001.
4.540.511
*.037,001
2,153.459
1.040,0*7
1.074,905
799.371
000,579
277.02©
374,159
208.451
2*0.301
305.077
200 43=
236.435
200,467
145.920,319
—8 t
+7-1
-r l 2
+1*«
-r l i 7
—2**2
—4 J
—10*9
08 868, U2
12 623.600
6.0< .8,208
5,5*1.097
4.427,253
3 559.700
1.236,789
2,172,58=
4,007.900'
4,119.758
—9*4
+10*1
—310
—rt*9
—5*0
—33*9
-18*0
—37*2
-8 5
—4*9
058,902
900,423
320,010
48l,25e
340,478
240,071
209,500
232,073
119,365
207,011
187,323.309
184.902
122,464,211
San F r a n cis c o .......
Salt L a k e C ity .......
P o r tla n d ..................
L os A n g e le s ...........
T a c o m a ....................
S e a ttle ............... ..
S p o k a n e ...................
F a rg o ........................
S io u x F a lls............
T o ta l P a c if lo ....
13,003.072
1,585,891
1,085.712
1.932.002
489,015
582,300
053,370
148,970
02.24 4
2O.oOS.330
13.078,021
1.19 ',138
1.051.670
1.035.40J
477,700
50 ),000
477,398
184,207
05.248
18,002.851
+0 8
+33*2
-t-2 9
+ 18 2
+2*4
+ 10*6
+37-0
—19*2
-34*7
+0 7
11,842,794
1.075,050
1,208.499
1,437,371
6 ie 093
524,275
37+370
105.992
05.585
17,423.229
12,908,096
1,159,189
1.832.098
1,601.003
556 208
560 152
807.002
119,8*2
122,129
18.857,290
K ansas C ity ...........
M in n e a p o lis...........
O m a ha......................
8 t. P a u l...................
D e n v e r ....................
D a v e n p o r t..............
St. Josep h ............
D es M o in e s ............
S io u x C it y ..........
L in c o ln .....................
W ic h it a ...................
T o p e k a ....... .
F r e m o n t ...................
H a s tin g s .................
T o t . o t h e r W est,
11,109.335
8,102,030
4.720,791
3.310,003
2,510.244
703.592
1,192.005
1,114,503
703,483
382,100
414,770
311,257
94.253
109.542
3 5.0 j4,2 43
9,700.417
7,453,307
4,431,839
5.206.172
2.038,0*0
1,152,5 iO
1,100.000
1,129,505
040.133
270.344
474,292
32o,041
90,222
05.105
34,8 L2.155
+15*1
+0 5
+6*6
-37*0
- 4 ’8
—33*3
+28
—1*3
9,920.703
0.213.905
3.402,789
3.573.428
2,015,520
9,1*0.873
5,190.973
5.027.809
3.153.114
2.920,203
+08 0
+0*0
1,209.895
1,327,001
508,45?
332,491
430.847
332.447
83.154
50.874
30,190,209
1.479 530
1,008 991
745,653
390.234
400 703
473 573
85 282
99,950
30,191,954
26,913,050
St. L o u is ..................
0,373,799
N ew O rleans..........
0,777,430
L o u is v ille ................
2,018.350
G a lv e s to n ................
2,231.932
H o u s t o n ..................
1,767,238
S a v a n n a h ................
2.043.174
R ic h m o n d .............
1,911,530
M em p h is.................
1,483,044
A tla u ta .................... .
1,099.471
D allas.......................
1,123,403
N a s h v ille .. , .......
810,131
N o r fo lk .................... .
434 807
W a c o ........................
009.117
F ort W o r th ............ .
810.420
A u g u s ta ....................
375,849
B irm in gh am ............
531,177
K n o x v ille ................ E
;» 249,101
L it t le R o c k ..............
J a c k s o n v ille .... .. 1 f o 293,308
I
.
209,554
C h a tta n o o g a .......... .
53,252.944
T o t a l S o u th e rn .,
24,028.312
8,142.057
5,452 418
1,018.777
1.500,100
1.847,289
2 510.037
2,509,709
1,274,209
1,094.084
1,020,434
980.298
471,033
508,151
512.547
377,059
448.028
270.907
872.338
275.000
55.303.087
+120
-21*7
-+-21*3
4-24*2
+48 0
-4 * 3
-1 0 7
—23*8
+10*4
—0*5
+9*6
-13*7
-7*8
+17*8
+59*3
—0 3
+10 2
-0 1
—21*2
—2*0
+6*2
26 514 062
7,087,797
0,058.418
2,249,8.30
1.995,500
1.028.712
2.101,958
2.215,000
1,350,085
1,02»,500
986,343
898 254
900,584
537.240
450,000
373,004
22,650,914
7,890.110
6,039 854
2 097.870
2.000,000
1.500,8*2
2,0*4.087
2,254.283
985, b74
053,501
93W.03L
1,024,478
419.192
T o ta l a ll.............. . 1,107.483,097 1,058,500.698
479.773,152 474,852,537
O u tsid e N. Y ork.
M o n tre a l................
T o r o n to . . . . . . . .
H a lifa x ...............
W ln n lp e c ........ ....
H a m ilto n ...............
St. Jo h n * ................
TOwil C a n a d a ...
10,741.450
7.432.77 i
1,767,193
1,314,801
771.674
688,759
22.007.955
• Not Included in totals.
10,629.531
7.335.84S
1,351,230
1,214,951
733,480
21.208.049
+7-e
—5*1
+i*:
+9*e
—23‘1
—O'l
-12*7
-f-5*9
12,2c 5,503
afs.boo
663,513.104
81,157,747
2.022 907
646,213187,IBS/
04 414.758
1,104,013
2 226,917
324,373
345.800
191,237
314 278
230,220
too.ooo
305,747
383.305
467.739
214,909
59,309,907
405.078
203.600
52,263,080
+4*6 1,119,710,647
881,203,470
+To
458,416,120
410,275,853
+i-i
+4 8
12.000,000
0,379,160
1,411.308
1.048,212
051,081
11,397,009
5.513,023
1.341,032
991,549
660,930
4-3~8l
21.549,707
18.001.14 &
+20
4-30*0
+8 2
920
THE CHRONICLE,
F IX A XCJJ L SITU A TION.
Not hint;
mindly new has transpired the past
vtct'k art ting busita-ss affair.*.
The more prornit.. tit isitluffWies urc the old ones. Gold exports hare
proha’-l v attnu-ted mere attention than any other event.
Kot lor \ ;rr* ha- sa oh » movement occurred under
circumstances which impart to it less reason - for
anxietv. But we have treated that matter on subse
quent pages.
As the we.-k closes Cuban affairs have been given
new prominence and have made the public a little
anxious. This anxiety has arisen from the fact that
the do. usno® with reference to Cuban belligerency in
th Scuati has been met by the President inviting
thro
. jo Senators to examine the reports from the
Gowruim nt’» representatives in Cuba on file in the
State Department. No doubt a bad condition of
affairs exists in that island.
A two years’ civil
war
.1 not be carried on, especially within
0 limit,-.! a space, without doing immense harm,
serious injury, and being attended by
cruel wrongs. To stop these disturbances and restore
the island to a state of peace and prosperity could not
fail K. be the earnest wish of everyone. A further
new and interesting feature in the case is a memorial
signed by leading merchants and bankers of New York,
Bosi. oj and Philadelphia in the Cuban trade, addressed
to be ret ary Sherman. This memorial, we understand,
has n<>: yet been presented to the Department, nor has
it bi-,'.; made public. Report says it simply asks the
Government in the interests of humanity and com
merce t >sake such steps as it can to put a stop to the
war -• that business may be resumed and the sufferngr «.d ' he people cease. From what the President is
r. p
to have said it would seem as if some plan
was in his mind and in progress of development which
gavj ... mi si:
relief. Cuban belligerency is, how
ever. a or >]»>-:ti that cannot be acceded to unless a
state >■<{ affairs exists which makes it a fact, and cannot
be de.-.rvi '.< •;*! by tho.-e who would like to irritate
>"pa: j ami involve us in trouble with that Govern
ment.
Tm wHf •>a ween Greece ami Turkey no longer
•iffiiiH-n-.:ts here. It looks though to-day
v- if that affair and its results might not far hence give
ri— to uur great question of the ago among those who
•■<•1 h :
pr miotc the welfare: of the race. At the momi- .
r party connected with the Cretan, Gre1,ai: im.l Turkish iuvolvment whose prestige has come
oat b n with added lustre is the Sultan of Tur»- ■ ■ the Power?, who so loudly proclaimed
■* "
their purpose, they have certainly had
ft 'd , in f he nastiest tittle war that hag ever dis.r*
hufopn, having at the outset, willingly
■>r U!.;«* iiiur^iy, aided Turkey and crippled Greece
>4* • i, :sb »;.
A* to Greece the feeling is
if*";,*
out! her liftt'iies have been very poorly led:
ti*: ' ]* " : , the r.-mlt may have boon a foregone con. kir,.~n, OjU no one can be found here who does not
?':i 8 1 ‘ ' ' 'o’ ‘ ">tT, rv of the Idlers and the justice of
their > !!'■- deserved better management.
ib '
■ lo - tin- affair leave "poor, sick Turkey” ,
S f(i if
mrn h lias been heard in the past. One
o:.’ ••
t1 r<:fiH*mwring at this juncture events
* b " ! i " led up ?:• the present crisis. Recall that
,,,ft of L <rd ."T h >ury at the Mansion House
“ ' ........mug of Nov. 19 18b,5, 1hat was the occasion
mirked s very important stage in the develop
working
[ V ol. L X IY .
ment of Turkish diplomacy. Almost up to that mo
ment. the Christians were being brutally murdered by the
thousands within the dominion of the Sultan and this
concert of nations was looking on hopefully but help
lessly. Just at that time at the dinner referred to
came those ringing words from Lord Salisbury in
tended as descriptive of Turkey’s condition which we
all applauded so heartily— "'Constant misgovernment
must lead the Government that carries it on to its
doom” , and much more to the same effect. Passing
the Sultan’s letter which this speech drew out, we
come to the next stage in this diplomatic concert,
which was marked by another speech by Lord Salis
bury just a year later, November 9 1896.
On this oc
casion not quite as complete confidence was expressed
in the shattered condition of Turkey; indeed, the Sul
tan’s diplomacy seemed to be in the ascendant. The
form the speech took this time was simply the expres
sion of a hope that "'the Powers would be able to con
vince Turkey that she was drifting in the current
toward an abyss and that they would succeed in di
verting her before she arrived at the edge.” The next
we hear of this concert of Powers it is apparently en
gaged in encouraging Turkey to destroy Greece, and, as
it was a kind of work Turkey has always shown a liking
for, she has done it, and according to latest news,
keeps on doing it even after being called off by all Eu
rope. No doubt she will stop when she gets ready,
but most likely it will be when she gets her claws
where she can enforce her demands. That, though, is
a point of small difference probably.
The ques
tion of the day is, Where is “ poor, sick Turkey”
now ?
A favorable industrial event is that another railroad
company has been able to float 3 A- per cent bond issues
We refer to the transaction announced this week by
the Illinois Central, covering the negotiation of $30,000,000 3| per cent bonds, secured -upon the former
Chesapeake Ohio & Southwestern and the St. Louis
Alton & Terre Haute roads, both now constituting
parts of the Illinois Central system. While this is not
a refunding operation like the refunding opera
tions of the New
York
Central and
the
Lake Shore, the benefits to result from it
to the Illinois Central will he very substantial,
and it is a highly gratifying fact that in times of busi
ness depression, such as we are now passing through,
several of our leading roads should be able to borrow
at such low rates. It is hardly necessary to say that
under present conditions only dividend-paying compa
nies of excellent standing and high credit can secure
money at || per cent. Of the $30,000,000 bonds,
$20,000,000 will bo issued on the Chesapeake Ohio &
Southwestern and enable the Illinois Central to finance
the purchase of that road and $10,000,000 will be on the
old Alton &'Terre Haute Road and permit the taking up
of branch line bonds, bearing much higher interest
rates, in one instance as high as 7 per cent. Only
$6,000,000 of the $30,000,000bonds, we understand, will
be sold and delivered at once.
The company has also
arranged to extend at 31 per cent certain small issues
of bonds maturing in the near future. But we need
not go into particulars, as the full details will be found
in our railroad news columns on another page. We
may summarize the advantages to result from the new
loans, however, by saying that the effect, will/ be to
diminish the Illinois Central charges and enable the
company t o . take up prior liens on the Chesapeake
Ohio & Southwestern and to realize on the laige ad;
|
|
f
■
.
|
K
,
Ma t 15 1897.]
THE CHRONICLE.
vances made on that property, besides supplying the
means to provide for the purchase of the minority in
terests in the various branch and leased lines of the
Alton & Terre Haute.
The effect of the absence of trade revival and the
continued decline in prices in the iron industry is seen
in the monthly report of the “ Iron Age” of this city,
showing a falling off in the production of pig iron for
the first time since the Presidential election of last
year. The “ Age” reports only 146 furnaces in blast
May 1, having a capacity of 170,528 tons per week,
against 153 furnaces April 1, with a capacity of 173,279
tons. The smaller furnaces are being steadily crowded
out, as is apparent from the fact that the number
of active furnaces is now one less than it was
in December last, though the production then
was only 142,278 tons per week, against 170,528 tons now. Prices for iron and steel are ruling
at extremely low figures. For instance “ The Age ”
reports that steel billets this week touched 813-75 at
Pittsburg and 813-50 at the Valley furnaces, prices
believed to be the lowest yet reached in this country.
The curtailment of the output of iron should tend to
restore the equilibrium between supply and demand.
With better prices for the raw product, there would
necessarily come an improvement in the prices of all
forms of iron and steel. We notice that there was only
a further slight increase in the reported total of stocks
of iron on hand, sold and unsold, the amount for
May 1 being 1,038,639 tons, against 1,029,831 tons for
April 1.
We have reached the period of the year where consid
erable interest attaches to the progress of agriculture
and crops in the farming districts. The only large
crop, however, regarding which it is possible to speak
with any definiteness yet, is the winter-wheat crop.
The Agricultural Bureau at Washington has this week
issued its report for May 1st, and this shows that on
that date the general average of condition for wintersown wheat was a little lower even than in May last
year, the average being 80-2 per cent for 1897, against
82-7 for 1896. From the Central Western States the
returns
are
very
poor as
a
rule,
Ohio
being the one prominent exception, with an aver
age of 82, against 55 last year. In Illinois injury from
freezing and deficient snow has reduced the average to
only 37; in Missouri the condition, though somewhat
better than this, is only 54; in Indiana the average is
61, and in Kansas 78, being in each case materially
lower than a year ago. In Kansas the condition is 78
against 96. In the South, on the other hand, the
average of condition is very high—Tennessee 93,
Virginia 99, Texas 98 and Maryland 102, which in all
but the first case is a decided improvement over
a year ago. On the Pacific Coast the condition was
excellent in 1896 and is likewise very good the pres
ent year, being 97 for California and 95 for Oregon.
A tabular comparison for the leading States will be
found at the end of our breadstuffs market on page
964. The wet spring has been very favorable to
spring pasture and meadows, the average condi
tion of pasture being reported at 93-4 this year
against 93-2 last year, and that of meadows 93-4
against 91-8.
Money on call, representing bankers’ balances, has
loaned at the Stock Exchange this week at l^and at
per cent, averaging 1| per cent, and the supply has been
liberal. Banks and trust companies who offer their
money on the Exchange have accepted the current
921
rates. .The inquiry for time loans is very small and
brokers find difficulty in placing them, though offered
on advantageous terms both as to rates and collateral.
Quotations are 2 per cent for thirty to sixty days, 2£
per cent for ninety days to four months, 3 per cent
for five to six months, and 3£ per cent for longer
periods, on good Stock Exchange security. There is a
fair demand for commercial paper and a good supply,
merchants borrowing more freely, mainly for the pur
pose of paying duties upon" imported goods. The rates
are firmly held at 3£@ 3f per cent for sixty to ninety
day endorsed bills receivable, 3|@4| for first-class and
44@5 per cent for good four to six months’ single
names.
It was announced on Sunday that the Greeks had
decided upon the evacuation of Crete, by the advice
of the representatives of the Powers, as a step prelim
inary to mediation between Greece and Turkey. Later
it was reported that the Porte demanded as terms of
peace not only an indemnity from Greece, but the
surrender of a portion of her fleet and the cession of
the mountain passes on the Greek frontier. The Min
isters of the Powers on Wednesday submitted to the
Sultan a demand that he direct a cessation of hostilities
in order that peace negotiations could be undertaken,
but at the latest dates this demand had not been heeded
The Bank of England minimum rate of discount was
reduced on Thursday to 2 per cent, from 24 per cent,
at which it had stood since April 8. The cable reports
discounts of sixty to ninety-day bank bills in London £•
of 1 per cent. The open market rate at Paris is I f per
cent, at Berlin 2f per cent and at Frankfort 24 per cent.
According to our special cable from London the Bank
of England lost £33,131 bullion during the week and
held £36,220,584 at the close of the week. Our cor
respondent further advises us that the loss was due to
the £15,000 (bar gold) sold in the open market, to
£91,000 net sent to the interior of Great Britain and
to £73,000 imported, of which £50,000 was from the
Cape, £17,000 from Australia and £6,000 from Por
tugal.
After opening firm, the foreign exchange market be
came easy, though not quotably lower, and it so con
tinued until Wednesday afternoon, when it grew firm,
still without any change in rates for actual business,
and it so remained on Thursday and Friday.
During the week 82,800,000 gold was engaged
for shipment to Europe — 8550,000 coin by Kid
der, Peabody & Co. through Baring, Magoun
&
Co.
for shipment
on
Thursday
and
81,000,000 bars by Heidelbach, Ickelheim & Co.,
and 81,250,000 bars by Lazard Freres for shipment
to-day.
The nominal rates have been without
change at 4 87 for sixty-day and 4 88@4 884 for sight,
the Bank of British North America posting the lower
sight figure. Bates for actual business opened on
Monday one-quarter of a cent higher for long sterling,
at 4 86f@ 4 86f, compared with the close of last week,
while short sterling and cable transfers were un
changed and the tone was firm. On the following day
and on Wednesday until the afternoon the market
was easy, though for actual business quotably un
changed, and on Thursday it was firm and dull, and
the only evidence of offering of gold bills was tke
reported sale of £50,000 at 4 87£. Yesterday the
conditions remained the same, the close being
quiet and steady. The following shows the daily
posted rates for exchange by some of the leading
drawers.
THE CHRONICLE.
922
[Von. LXIV
the fact remains that Europe wants gold, has made a
bid for it, and is getting it here. Does not then, un
W19-, Twtm.
]
U ■Mm «* May It. M-.c u. der these circumstances, the mere outflow of itself
Mm ** Mm
m
m
#T
m
\ wt
§*
prove that America is at this juncture the cheapest
*►»» ; :0. ,
wm
m*
wm
WH
» *
m
87
a?
m
m
ft
market to procure gold in ? And does not the con
mH
WM
mu
mi
ws.
if
m
1iHME-t ttftSA*JS
4W <&*!**
tinued absorption of the bills against the shipments—
M
##
m
’ ffo,
-1
. g
m
m
8? .
ifcM* #f
$#» 4njf* m
the
temporary decline in exchange and the subsequent
Uv*
**»%
«■«
|immxrmi .
i
SJ
0
tf
It I #*,r&
recovery of the rate to the previous figure— does not
Wt
W**.
***
m
if?
0
this prove that the shipments are based on debts due and
f m 4feft
mi
; w>4
m i.
Tm
mi
mfmmm & t&k. *6**pfc*<
! .pf
m
K7
are made in settlement of the same, and are not in any
m
0
m
•fcaou* N nh . L i t ” ’
SSH
mi
| mi
sense a loan of gold. That is to say, they are natural
Ml
■m
Ml
I if
**
Mmttomm* 8nu i &*
1 *rt\i j i *
transactions, differing from an ordinary movement
The mark* ! t l»»-vd quiet and steady on Friday ut 4 87
of the metal only in the fact that it flows out with ex
for sixty d»r and I 88(1 $ 8S| for sight. Rates for
change below the gold-export point because some gov
actual business were 4 80^{.f 4 86$ for long, 4 87$@
ernment or bank stands ready to pay a fraction above
' i # 4 87J for cable transfers.
the market price to deflect the metal to its coffers.
Prime commercial bills were 4 85|@4 86 and docu
Barring therefore this premium and the consequent
mentary -I 85|@4 854. the latter being an advance of
low rate of exchange at which gold is leaving ns, there
one-quarter of » cent from the day before.
is nothing to distinguish the current export from any
The following statement gives the week’s movements
former efflux. Coming Customs legislation foreshad
o f money to and from the interior by the New York
owed months ago the movement which is now going
h an ks.
on. We showed that there was no other event likely
KnM na H a t U . I KK.
Vtertant b$ | S k ip p rt bti
N tt InU riar
to produce shipments this year ; but with imports of
X . V . BdtnM.f X . Y . Bdtnfei.j
M o v im sn t.
merchandise hastened while Customs legislation was in
.tZZZ7ZZZZ^ZZ7,
«<» 4 , , . . . . . . . . «.• »,.. .***
’
5:48,000
309,000 Gain. 279.000 progress, as they were likely to be hastened to avoid
*
the higher prospective tariff rates, gold would probably
With tin Sub-Treasury operations and gold exports have to be exported. The large favorable balance
the result is as follows.
which our foreign trade record for the last nine months
shows, has misled many. That total was in .some
j
Out o f
! N tt Ohint)ns in
tmfa
wm$i
M m %i« t m .
1
B-tnkA. i
n mfc*.
! B tn k Holdings.
measure deceptive. There has seldom been a year
$4,810,000 I s i . m % o o o Gain, r3,124. ♦» 0
when the unrecorded movements needed to be so
T frA JL o^ n tV ii* xua4 goM e x p u . i 16,100,000 ViMO.QQQ Loss. 2,700.000
closely studied. Two weeks ago we made some sug
Gain
S424.0D0
1 o i* i
:#20,916.000 *20.402.000
gestions as to the character of the Government figures
A m o u n t of bullion in principal European banks.
themselves, specifying certain, modifications which
May 14,1 M .
B»mMtf
must be introduced in striking a true balance. But
O-iM. j Skirt- | Into.(M 4 .
‘ SiiTtr.
A M ,
wholly outside of those figures there are important
j
«
«
4
M
M
4
47.066,750;
[ 47,060,756
M£mm»
1
data materially affecting the conclusion to he drawn
f%tm.m.
iti.m ub
Wrmm***;-■
from the recorded results which cannot be omitted.
9O.SM,OO0{ 15.102,000 45,552,000
u t$m
26.V33.000; 12.702,000j 88,725.“ - 0
!
A « L t t vwfl m ,i
A first fact is that our trade did not begin the cur
ft. 4H,000.j 10,680,0 <•.} 1M,CS4.0t<
vm m ®
e .m .o o c
8.627,00“ 6,047.00 > 0,674.0*M rent fiscal year on an even keel.
Holders of our se
t ,« s » .3 « s I A U M 7
4 ,U i M >
2,002.0001 1.346,000
4,038. * «
curities
in
Europe
had
been
selling
out their invest
l
m .'& l.to ib
15.320 293.733.2Vl
Witym* * * # k UO.WT.«t'-# S 5 .V -.U 1
m
wt
zm m jm vtw a o tjtm 94.740.2u t98.ots.7U ments and sending them home for redemption at a
very rapid rate during the three months ending with
July 1 1890. Then again one must have a very short
If A 1‘ GOLD EXPORTS MEAN AND WHY memory to have forgotten the circumstances culminat
THEY SEED SOT BE FEARED.
ing with the Populistic silver platform adopted and
<«oM expert* continue. Just now, to be sure, the the silver nomination made by the Democratic Party
metal flows o u t inn capricious kind of way; but the early in that black month. The adverse movement
obvious explanation for this is that when one lot has of capital had been so free during the three months
been shipped, the bilb sold against it weaken exchange, referred to that, notwithstanding the large excess in
and the next lot does not go out until the market has merchandise exports, we were required to make sub
aW.rbod the supply of bills against the last shipment. stantial shipments of gold every week, the total net
A good many writers like to call this movement the outflow in July being $9,097,788, although the net ex
loaning of gold to Europe because it is an outflow at ports of merchandise that month were 115,609,237.
r
“ f exchange below the old level. The truth no Then it was, that is to say in the third week of July,
doubt h that somebody pays a premium for the gold that our Clearing-House banks and trust companies
•afftcient ro cover the disparity in exchange; it is only came to the help of the Treasury by replenishing its
this premium shat makes the movement at these low depleted gold reserve while our foreign bankers dealing
rates profitable
«.«r banker*. In previous weeks we in exchange met at the office of Mr. J. Pierpont Mor
have cited an operation by Austria through a sale of eau and entered into an agreement which in substance
securities j«yable in gold w h i c h enabled shippers to was to use their credit to furnish as large an amount
find * profit in the movement: subsequently, through as needed of sixty-day bills of exchange on London to
another tnangttlar operation in exchange, it proved meet the wants of remitters to Europe until the export
profitable to a>nd the metal to Paris, possibly by means movement of cotton and grain permitted the bills to
of a premium growing <»«t of » purchase of the same he covered.
h o n d tf.
Certainly no one finds it necessary to be reminded
O' ' ■ •'
attempting ro d in indy fix upon the •'J t-lu; Dorr slop these transactions and the 60-day
j s m i r n h r itid tm * * ? tv m t n o w o p e r a t i n g o n
th e w o rld ’ s
bills issued put on the gold export movement. The
f f l a r k r U . t h e < }< • !.r m i n a t i o n o f w h i c h i s u n i m p o r t a n t
cheek was so sharp that, although gold was actively
t. » u . r r a i m
* * . « « r o * r o n s m * « .x e tu x < > B .
b
H
MAT
15, 1897.]
THE CHRONICLE.
moving to Europe the first half of the week ending
July 2oth, not a dollar went out on Saturday. More
than that, after a few weeks, with the help of consid
erable sales of 60-dav bills, of dearer money and freer
exports of merchandise, the flow of gold was reversed
and the United States received large additions to its
stock, aggregating from August 1 1896 to the 31st of
December, inclusive, 872,882,000. To what extent
the bankers associated together in July sold their bills
and how long it was before they fully covered them,
we do not pretend to
know.
Neither can
we know with accuracy the state of the coun
try’s accounts with the outside world on January 1
1897 ; the peculiar situation of affairs which we have
briefly but only in part recited makes that problem
peculiarly intricate and involved. At the same time a
study of the trade record in connection with the cir
cumstances mentioned above and the high rate of ex
change which has ruled ever since the middle of De
cember, when gold imports ceased, gives probability to
the assumption that the holdings of foreign exchange
for investment on the first of January must have about
balanced the trade accounts of the United States with
the outside world when 1897 opened.
Other matters could be urged and facts cited to
fortify this conclusion. We do not think they are
needed. On the basis thus reached the current gold
exports will be seen to be fully accounted for and
easily explained. After making our usual allowance
for freights, undervaluations, travelers’ credits, etc.
(aggregating about 160 million dollars annually), the
total foreign trade movement (including the unrecorded
as well as the recorded data) made up since January
1 and covering April, will net a considerable balance
against us. In other words, the facts indicate that
this idea of loaning gold, as some would call it, is
nothing but a settlement of accounts for the large
stocks of foreign merchandise we have recently been
accumulating: that as soon as Europe stops offering a
premium for our gold, the rate of exchange will further
rise and gold exports continue in a wholly natural way.
Of course there is always the possible contingency of a
return of the disposition in Europe to invest in
American securities, which would speedily check a
gold outflow.
But whether the confidence of foreign investors is
soon to be realized or not, the truth is unquestionable
that it is long since the occasion of a gold outflow
offered so little reason for anxiety as it does now. The
past year has very materially replenished the country’s
stock of that metal. Not only have the imports been
large the past nine months, but the production has
been large and increasing, so that the banks and the
Treasury are abundantly able to supply the demand.
More than that, under the Senate tariff bill we have
good promise of a sufficient Government income to
wipe out the deficit which has of course for years been
a source of special weakness. Then again these large
imports are but a temporary affair and must be soon
followed by abnormally small ones. If we have on
hand over a year’s consumption of sugar and of many
other important articles affected by tariff revision, it
stands to reason that so far as that is true there can
be no call for the importation of those articles during
near-by months. Besides, higher duties will check im
ports of general merchandise for a time, and until
prices have risen so as to correspond with the advance
in the Customs rate.
To be sure the same in
fluence will tend too to decrease exports, but that is
923
an effect of slower growth. Altogether very soon after
tariff legislation is completed our foreign trade ought
to show a favorable balance again.
There is one other condition which we hope for and
which, if it can be attained, will for the time being
tend to relieve all anxiety over gold exports and inspire
confidence. We refer to a prospect that some move
ment in Congress towards currency reform may be
made as soon as tariff legislation is over. If a Com
mission to report a plan next fall could be appointed,
it would put hope into every department of business.
Can not industrial interests be so far favored P
STATUS OF NON-ASSENTING BONDS I N
R E OR GA NIZA TIONS WITHO UT
FORECLOSURES.
Considerable interest and importance attaches to the
position of minority or non-assenting bondholders in
cases where a company finds itself unable to meet the
payments required on its bonds, and where a reorgani
zation is effected on a lower basis of charges, but with
out foreclosing the mortgage securing the bonds.
The courts hold to the doctrine that in such cases a
bondholder who has declined to accept the terms of
reorganization offered is not bound by the action of his
fellow bondholders (barring an express reservation to
that effect in the mortgage) no matter though the
holdings of these bondholders may constitute the bulk
of the whole issue, but can secure a judgment against
the company on his own bond for the amount of his
claim. Foreclosure is an expensive process, and the
effort always is to avoid this step if possible. Hence
where all but an insignificant minority of the bond
holders give their adhesion to a reorganization scheme,
the scheme is generally carried into effect. The non
assenting bondholders have not been slow to see the
advantage which this gives them, and in one or two in
stances they have been able to secure for themselves
very much better terms than the majority bondholders.
There is an obvious injustice and unfairness in this,
and as an obstreperous or scheming minority is capable
of a great deal of mischief, provisions have been in
serted in the newer mortgages intended to guard
against leaving the majority at the mercy of the
minority by making any modifications or arrangements
accepted by a certain proportion of the bondholders
binding upon all. In view of that fact, a decision just
rendered in an action brought by a holder of one of
the old bonds of the Denver & Rio Grande Western
Railway will no doubt receive considerable attention.
The case was one where the mortgage deed explicitly
gave to a majority in interest of the bondholders
the right and power to waive default and the
rights accruing thereunder and to accept new
terms and conditions if thought desirable (such
action to be conclusive upon all the bond
holders), and where yet an individual bondholder
was able to prosecute successfully an action against
the company for default in the payment of coupons
on certain bonds held by him. Those who do not
understand the special facts and circumstances gov
erning in this case may be led to conclude that even
where a mortgage deed has been especially framed to
cover a contingency of that kind, the majority are
powerless to prevent harassing litigation on the part
of some individual bondholder. It is hence desir
able that the exact facts should be set out. As we pro
ceed it will become apparent that tho decision embrace >
924
THE CHRONICLE.
J7vTT ~
of „v!i.Tai application. The truth is, the
oomplatiKitu . .mlholder Lad very clever counsel, who
not ■:'>«' to perceive certain weak points in the
W}ln,:»:. •...mpuny’s defense, and to attack those points
with great vigor and nemateucy.
The case hiw been in the courts for a great many
v«r=, and there have been a number of trials of the
issue# involved. In order to understand the decision
rendered this week, it is necessary to refer to the pn r
vious decision* in the same suits and the points in, . The original action was brought Feb
ruary I t 1slK). against the present Bio Grande Western
K.iilway, bv Simon Rothschild as the holder of 110
coujK>i!i cut from 10 of the bonds of the old Denver
& Ri,» Gramk* Western Railway Company. The cou
pons represented semi-annual instalments of interest
for thirty dollars each maturing September 1 and
March 1 "from September 1 1881 to September 1 1889,
inclusive.
The company in 1885 had found itself
unable to meet its interest in full and had arranged
with the bondholders to pay the same part in cash and
part in scrip. According to a report which eve find for
August 1, 1887. no less than $5,081,000 of the bonds
(out of a total of *6.900,000) had agreed to the fund
ing scheme up to that date. The plaintiff in the
present suit, however, did not assent. In 1889, in order
to provide means for widening the gauge of the road,
and at the same time to make a definite adjustment
with the bondholders, the company was completely re
organized and new bonds of the Rio Grande Western
Bail wav bearing 1 per cent interest (together with an
allowance of preferred stock) were issued in exchange
for thi o per cent bonds of the old Denver & Rio Grande
West i.-rn Company. The amount of the old bonds
outstanding, as already stated, was $6,900,000, and no
less than *6,873,"HO of this amount joined in the reorganizatiou. The plaintiff, Rothschild, would not join
in tliis arrangement either, but preferred to act inde
pendently, uud brought the suit already referred to,
on February 14. 1890, for the recovery of a judgment
(for money only) on the 110 coupons held by him.
As -aid above, what gives the case prominence is
that the mortgage contained a provision which seemed
to make, and evidently was intended to make, it imp---:ib!f for a bondholder to maintain a separate action. Thu - Article VIII. of the mortgage deed reads;
st {minted, mutually cove
nanted and agreed (any law or usage to the contrary
notwithstanding) that neither the trustee, nor his
stK'mwmr .,r successors in the trust, nor the holder or
holders -4 any bond or bonds hereby secured, shall
law or u equity for obtain
ing possession of, or procuring a sale of the trust
property hereby transferred and conveyed, or in
truded so so hf. or any part thereof, otherwise than
n th* manner herein provided for enforcing his or
thmr right" and demands, or recovering the whole or
> ; .rtion of the principal or interest of the said
b mb, it being the intention, stipulation, covenant
ami igri •ment of the parties hereto, with each
other, and the bondholders secured
hereby,
for the better protection of the holders of
the
bond# hereby
secured,
collectively,
and
for (be securing of the largest possible benefits and
proceeds frmn the trust property or any portion
thereof, that the modes and remedies of entry, or of
'i-.tjfi, <<? twin, hereinbefore provided, shall be exclusive
: ■
"
"• Article IX. declares
’ mutually covenanted and agreed, ns condi
[ VOL.
LXIV.
tions subject whereto the bonds secured hereby are
issued and hold by each successive holder, that the
holders of a majority in interest of bonds may, by an
instrument under their hands and seals duly authen
ticated. or resolution adopted at a meeting of such
bondholders, waive or instruct the trustee to waive
any default occurring, and the rights accruing there
from, on such terms and conditions, or without any
conditions, as to such majority shall seem proper.”
These are broad declarations and it becomes im
portant to know hove the plaintiff, in face of them, was
able to prosecute his suit successfully. The ease was
heard on two demurrers and two appeals from de
murrers before it came to trial on the issues. At the
first trial the matter came up in the Supreme Court,
before Judge Andrews, and a judgment entered on a
non-suit was rendered dismissing the complaint. The
only point determined on this trial was the right of the
bondholder to bring a suit on his coupons. From this
judgment au appeal was taken to the General Term,
First Department, where on January 18 1895 the
decision of the trial court was reversed and a judg
ment given for the plaintiff.
The opinion in this
latter instance was by Judge Follett, Judges Parker
and Van Brunt concurring.
George Hoadley
and William Strauss appeared for the plain
tiff Rothschild, while Theodore F. H. Meyer rep
resented the company. The Court took the position
that the provisions in the mortgage declaring that no
bondholder should pursue any remedy at law or in
equity “ otherwise than in the manner herein pro
vided” related only to the sale under the mortgage
and did not affect the right of the bondholder to sue
at law on his bond. Furthermore the Court found an
apparent inconsistency between the provisions in the
bond and those in the mortgage. The bond con
tained the recital that the bond was entitled to the
benefits and subject to the provisions of the trust
deed, adding— “ which trust deed also provides, in the
several cases of default as therein specifically stated,
for the right in the trustee to exercise the power of
entry thereby conferred, the right to declare the prin
cipal due, to sell in case of non-payment of such prin
cipal, subject to the qualifications therein contained,
to which trust deed reference is hereby made.”
Judge Follett in the opinion referred to (which, as
stated, was rendered in January 1895,) said that the
language here quoted was not calculated to inform the
purchaser of a bond that he could not sue at law for de
faulted interest, but informs him that in case of default
the trustee may enter into possession and sell the
mortgaged property as provided in the mortgage.
The paragraph clearly indicates that the rights and
powers of the trustee to enforce the .trust deed are
expressed therein, but there is no intimation that the
right of the bondholder to sue for the money which
becomes due is denied or cut off by the trust deed.
Undoubtedly, said Judge Follett, the bond and trust
deed are to he construed together, but in ease there is
any ambiguity in any of the provisions of the mort
gage, such ambiguity must be construed against the
corporation, since it is an elementary rule for the con
struction of contracts that, ambiguous phrases are to be
taken most strongly against the covenantor, whose
words they are.
While it is true that mortgage deeds are matters of
record, the records are often in a State distant from
the place at which the bonds are sold, and the pur
chaser seldom lias an opportunity of examining the
Ma y 15, 1S97.J
THE CHRONICLE.
925
terms of the instrument. The contention of the de of the further ground that no legal proof has been
fendant would in effect exempt all of the property of offered to show that default had been waived in such
the corporation, not covered by the mortgage, from a manner as to bind the minority holders. It is plain
liability to be taken in satisfaction of its bonded debt. enough that the funding plan had the assent of the
No such stipulation is contained in the trust deed, nor required amount of bonds, otherwise it could not
in the bonds, nor in the coupons. The bonds and the have been carried out, and indeed we have shown that
coupons contain an absolute promise to pay definite up to 1887 fully five-sixths of the outstanding bonds
sums on specific dates, which implies a right of action had given the plan their approval; but unfortunately
in case of failure ; and if Article V III. of the mort the company was not able to produce proof of the
gage is capable of the construction claimed by the fact in such a shape as to make it competent evidence
company, it is inconsistent with the bond, which in in a court of law.
that case must prevail.
THE COST OF GOVERNMENT.
On these grounds the judgment of the lower court
In submitting, two weeks ago, his estimates of
was reversed and a new trial granted on the facts.
At this second trial the case came before Judge revenue and expenditure for the coming year, the
Beach, and the plaintiff again secured a judgment in Chancellor of the British Exchequer made some
Sixty years ago,
his favor. An appeal was then taken to the Appellate interesting historical comparisons.
Division (First Department), and it is this second ap on the accession of Queen Victoria, “ the revenue
peal that has just been determined. We have gone was £52,500,000 ; now it is £112,000,000.” Expendi
thus at length into
the
decision
on
the tures were of course proportioned to the income in
prior appeal because the
purport and scope 1837 as in 1897, the conclusion being that during the
of the latest decision cannot be understood with sixty years under review the cost of running Eng
out
full knowledge
of all the preliminary land’s Government has increased over 100 per cent.
Such a comparison illustrates, perhaps more fairly
proceedings.
Messrs. George Hoadly and William
Strauss again appeared for the plaintiff, and Mr. C. A. than in the case of any other State, the tendency of
Jackson represented the Bio Grande Western Com governments, during the past half century, to enlarge
France makes a comparison quite as
pany. The Court of course on this appeal did not con expenditure.
sider anew the question as to the right of the plaintiff to startling; though the increase in the debt since 1871
England, during the
maintain an action against the company, that question materially affects the showing.
having been determined upon the previous appeal. last half century, has not only reduced the annual rate
The point passed upon was simply whether the of interest on its debt, but has cut down the principal
The United States presents
lower court had erred in ruling out an exhibit in some £200,000,000.
tended to show that a majority of the bonds in com the most remarkable of all comparative arrays of fig
pliance with the requirement of Article IX. had waived ures. In 1836 this Government’ s expenditure, exclud
the default in payment of the coupons.
ing interest on the debt, was 830,868,164; in 1896 it
The exhibit referred to consisted of a copy of the was 8316,794,417. It had actually increased tenfold.
funding plan, having appended to it the signatures of But if the United States has an extravagant Govern
bondholders supposed to have assented to the plan. ment to-day, it had a somewhat needy Government
It appears, however, that this paper was not authenti sixty years ago. Furthermore, the United States, within
cated in the way called for in the mortgage. There the last half century, has increased 45,500,000 in popu
was no offer to prove any signature appearing there lation, or upwards of 250 per cent, whereas the increase
on, and as the paper wa3 not acknowledged by any of in Great Britain has been 10,350,000, or less than 40
the signers, it could not prove itself. Nor was there per cent. Great Britain was moreover in 1837 as in
any offer to prove that any of the signers were actually 1897 the richest nation of the w orld; its increase in
bondholders, or that if they were bondholders that annual public expenditure is therefore a reasonable
they held the number of bonds set opposite their names, measure of the general tendency.
or held any other number of bonds. Finally,
So much has been said of the unwarranted increase
allowing all the items contained in the paper (some of in our own Government’s annual expenditure that it
them, it is alleged, were merely pencil memoranda will be worth while to investigate the reasons for this
indicating that certain amounts of bonds had assented growth in the cost of England’s Government. If con
to the funding plan), the total would foot up only ditions are at work which govern all nations alike, the
£2,689,000, out of a total issue of £6,900,000, or con fact would be, if not an absolute excuse, at least a
siderably less than a majority of the whole. Thus in palliation of our own Congressional extravagance. If,
the first place the paper, not having been proved, on the other hand, we find that European budgets are
could not be accepted as evidence, and in the second increased by outlay which circumstances force upon
place if it had been proved the signers did not repre the governments, while our own appropriations are
sent a majority of the bonds outstanding. The Court increased through simple recklessness, the conclusion
therefore holds that the ruling of the lower court in as regards our own Congressional methods will be only
rejecting the paper in question was right, and with emphasized.
this the case of the defense necessarily falls to the
It is the past fifteen years which have witnessed the
ground.
most rapid expansion, both in our own and in the
Obviously the existence of these various special fea foreign budgets. In England’s case the net annual
tures controlling the determination greatly limit and expenditure increased during this period some £15,restrict its significance. The earlier decision on ap 700,000, and the estimates submitted by Sir Michael
peal established merely that the limitations sought to Hicks-Beach for the current year increase the outlay
be imposed by the mortgage were not in this instance by £900,000. Taking these estimates as a basis, the
broad enough to tie the hands of the individual bond increase in the annual outlay for the English navy has
holder in seeking a judgment on his unpaid coupons. jbeen £11,000,000. In other words, 70 per cent of
The presen*- decision upholds the plaintiff because the increase in the annual expenditure since 1881
IHE
CHRONICLE.
h
kr, ■ i fr mii tiis-i .-angle itoiw in the budget. It
u n«t difficult to w e the motive for this in*
cr . A U
Kuropf Inis been arming itself since
tju; •
ef 'he consolidated military power in Gorujuj-jv,
Tit.- English navy fifteen years ago was
xhv moist efficient on the seas; but tho increase in the
Continental armaments made necessary added safe*
guards. At first the British Parliament was chary in
its gnint-s of the large supplies requested by ministers
for the navy. But intermittent popular “ scares” of a
verv curious character, regarding the danger to which
the British Empire was exposed, succeeded in offsetting
wholly the instinct of economy. At one time such a
movement of outside opinion would arise from a real
istic magazine story of supposed invasion; at other
times from the alarmist talk of ministers themselves;
again, from simple fright over the wholesale army ex
penditure of Continental Powers.
Whatever the immediate cause, the actual result
was a demand, by taxpayers themselves for an increase
in the navy. It has been the policy, openly declared
by half a dozen ministries, to keep the English navy
to a point of practical efficiency where it could cope
with navies of two or three Continental Powers combined. As the other States, particularly Germany,
devoted their attention more and more to the exten
sion .>f their own floating armaments, the pursuance
of this policy required constant increase in the British
navy, and in the annual appropriation for its purposes.
Grout Britain is to spend this year, reckoning in
Ans« rienu values, $100,190,000 on its warships. Ger
many. meantime, votes to its navy barely $21,500,000
annually. France $47,425,000 and the United States
$27,500.of*0. Although this naval expenditure has
necessitated a continuous increase in taxation
of the English citizens, it is probably the
most
popular
policy
pursued
by England’s
Government.
The people have in short acqui
esced in the assumption that the nation’s safety
rests up<m tin- maintenance of a naval armament great
enough to protect from foreign aggression England’s
corn coast and that of all its colonies. A month ago
another of the periodical *•scares" regarding England’s
possible isolation was revived in Parliament, several
members asking what provision the Ministry would
make- to ensure receipt from foreign grain-growing
immunities of Great Britain’s necessary food sup
p’d'-.; in case of war. The question thus put to the
Ministry started an animated controversy throughout
I tnx-i Kingdom. But Mr. Balfour answered Mr.
St - r . Kar r to the effect, that the English Government
w as re-p.m-sible f o r maintaining naval supremacy such
a- 'b>nij<i be competent at all times to protect tho
channels of Great Britain's foreign trade. The answer
has b<-(>n accepted both by Parliament and people, as
St will !».-• observed, therefore, that nearly threef.i.irrit- of the increase in the running expenses of the
English Government during recent years, has been
0 by what were in a way necessities of the situatK>n- 1 -;>me may be said of the enormous increase
m the army expenditures of governments such as
Germany. Even granting the wastefulness and folly
of nr.subduing these armed camps throughout the
Continent, the fact remains that when one first-class
nation arms, its neighbor and rival must in self-der mu c h .
Now let us apply a similar
te5t f° th” United States. During the fifteen years
in which British expenditure for public purposes has
[V on. L X iV ,
increased $78,500,000, our Government’ s, annual
expenditure, outside of interest on the debt,
has increased $120,890,000.
Even with us the
outlay for the navy has been considerably expan
ded.
But considerations of national defense have
played a part, in the long run, relatively insignifi
cant. Annual pension expenditures have increased
since 1882 no less than $78,000,000; annual outlay for
river and harbor work, for public buildings, and for
other similar purposes, has risen by the sum of $80,000,000. Now it was several years before 1882 that one
of the best of our authorities on army questions, him
self a distinguished veteran of the war, declared in
Congress that the proper maximum of expenditure for
pensions had been reached already.
We do not, on
the other hand, imagine that this country’s pressing
needs for annual additions or improvements to its
ports and public property have doubled in a decade
and a half. Y et our average expenditure for pen
sions during five years past has exceeded the annual
payment made by France or Germany for its army or
England for its navy.
Such a comparison is worth some serious reflection.
It shows that while the foreign States are bearing
heavy burdens, forced on them by circumstances which
most of them regard as first of their misfortunes, our
own Government has deliberately and needlessly placed
itself in the same position. The ratio of increase in
this country’s annual expenditure, moreover, has been
nearly twice as rapid as the increase in the European
States. This has happened while we are at peace with
all the world, with no risk of armed collision unless by
our own deliberate provocation, and not in the remot
est danger of invasion.
We have hitherto discussed at some length the
method of appropriations in our Congress. It is with
out any question in these haphazard fiscal methods
that the mischief of our Federal extravagance lies,
and through correction of them alone can tho evil
itself be corrected. Our readers are aware that the
practice of drawing up appropriation bills by eight
separate committees in the House, without supervision
by the Executive, with the certainty of enormous in
crease by the Senate, and with careful scrutiny or
debate impracticable, has brought our annual grants of
expenditure to a pass where reduction or even rational
adjustment seems impossible.
“ Ours is the only Government in the civilized
world” , said Mr. Cannon in his report last session for
the Appropriations committee of the House, “ wherein
the administrative branch apparently assumes no de
gree of responsibility to the taxpayers for its demands
for the expenditure of public money.” The truth of
this assertion is unquestionable; indeed, it may be
added that the methods which have grown up in our
Government turn absolutely topsy-turvy the theory,
precedent and practice, in the use of public funds, in
every parliamentary government of our time. With
out exception, every important European State
regards the annual budget of revenue and ex
penditure as a programme of the ministry to
which the assent of the legislature is asked.
Equally without exception it is the theory at least
in all those European States that the request of the
executive must be watched, and in a way distrusted, in
order to forestall excessive grants. The taxing power
is the jealously guarded privilege of the people’ s dele
gates. The ministry is bound to construct a system of
taxation which will yield enough to cover what it need
Ma t 15, 1897.]
THE CHRONICLE.
927
for purposes of expenditure. If the legislature does that one initial step of reform was feasible through
not approve the estimate of expenditure as submitted, the assumption by the President himself and his
they may refuse a portion of the taxing power. The administrative council of larger responsibility in the
Parliament, the Deputies and the Reichstag are, in cutting down of estimates and in the framing of a
other words, the guardians of the people’s income proper budget of expenses. The task is heavy ; very
against the only too probable aggression or extrava possibly the labors of the Cabinet would be wholly
nullified by the inexcusable practice of increasing
gance of rulers.
This system does not always operate perfectly.
In appropriations by the tens of millions in the House
Germany, as the study by the Cobden Club some and Senate. Unless, however, a beginning of reform
years ago pointed out, the influence of the executive is is some time made, it may be predicted with certainty
virtually supreme; ministers or their agents sit with that large increases in the revenue will soon mean
the committee on the budget, and the vote of supply little except the further mounting up of governmental
is in some degree an empty form.
This is, however, extravagance.
a fault of the country’s general autocratic system, not
of the fiscal system individually. Such defects as the RAILROAD GROSS EARN IN GS FOR A P R IL
French practice presents arise rather from parlia
No very decided change in the character of the re
mentary intrigue than from wilful lavishness.
The ports of railroad gross earnings is yet observable. In
committee on the budget, chosen by lot, hardly the aggregate our statement below shows a gain of
grapples with the fiscal question,
“ Its discussions” , #542,234, or 1-44 per cent, over the same month last
writes M. Leroy-Beaulieu in describing the system of year, which is satisfactory as far as it goes; but when
his Government, “ are never really serious. A com we come to look at the results for the separate roads
mittee so selected is not always made up of competent we find considerable irregularity in the exhibits, with
men; it ends by becoming a sort of coterie; between it over half the number reporting losses— 68 roads out of
and the Government there are established confidential 133 being so distinguished.
relations.” It sits in secret; its report is rarely more
While the gain in the aggregate is not very large, any
than explanatory.
gain at all is perhaps to be regarded as encouraging
These are two faulty developments of the system ; considering the conditions which prevailed. For it is a
yet even so it will be found that no such confusion fact that nearly every leading condition was unfavorable.
and haphazard extravagance exists in France and Ger Trade and business still continue exceedingly de
many as in the case of our Congressional appropria pressed. The effects of this are very apparent in the
tions. On the other hand, the British budget system, earnings of the roads in the Middle and Middle West
based on two centuries of thorough experiment, shows ern States. In those sections the losses outnumber
what an honest use of the system may make possible. the gains about 3 to 1. Indeed, gains are very rare in
The Chancellor of the Exchequer submits his estimates that part of the country.
Then, also, the grain
of expenditure and asks his grant of new supplies. movement, though fairly large, fell behind that of a
His requests become at once a subject of debate ; last year ago. At two of the Northwestern markets the
week some of Sir Michael Hicks-Beach’s provisions were receipts of spring wheat were remarkably free, con
openly and emphatically opposed. The budget goes sidering the difference in the size of the crops in the
next to a select committee, made up invariably of the two years; at other points and in other cereals the
most experienced business members of the House; such present year’s receipts in most cases record losses.
practical financiers as Sir John Lubbock in our time and Furthermore, there was also some contraction in the
Sir Francis Coutts a generation back. -By them the bud movement of live hogs at the West— at least the
get is examined with the close attention to its detail deliveries at Chicago comprised only 542,887 head in
which would be expected in a first-class corporation, but April 1897, against 608,674 head in April 1896.
which is unfortunately rare in government. Revised
It is to be noted, too, that in the South the cotton
by experts of this sort, the English budget rarely movement failed to come up to that of last year, and
makes mistakes. Its revenue yield matches its esti last year the movement had been very much below that
mated outlay to a marvel; only in half a dozen years of the year before. Finally it must be remembered that
during the present generation has the surplus revenue we are comparing with rather full earnings in April
or the deficit mounted up to more than six figures on of previous years, our final total having shown a gain
the balance-sheet. Such monstrous surplus revenues of fair amount both in 1896 and in 1895. The follow
as our Government reported during 1887 and 1888, or ing carries the comparisons back for a series of years.
such shortages as those of 1894 and 1895 would have
E a r n in g s .
M ilea g e.
In c r ea se
driven ignominiously out of office in Great Britain
or
T ear
Y ear
Y ear
Y ear
D
e c r ta s e .
even a Yansittart.
P r e c e d in g
G iv e n .
G iv e n .
P reced in -.
A p ril.
fM ile*.
M ile a.
t
*
Whatever may be their shortcomings in actual execu
1893 (144 ro a d s )........
40,285,707 38,805.193 I n c . 1,390,572
93.991
92,089
tion, the European budget system has three inestim 1894 (125 ro a d s)........ 08,045
34,871,180 40,955,880 D ec. 6,084,703
95,417
1895 H26 road s)........
36,898.605 35,259,321 I n c . 1,039,MJ4
99,400
90,855
able advantage over ours. It is prepared with greatest 1896(131
road s)........
87.240.270 30,012.491 I n c . 1,227.785
96 529
95,081
care by the executive, who is held strictly accountable
38.147,090 87,004.856 I n c .
542,234
99.030
98,300
for its operation. It comprises estimates of revenue J a n . 1 to A p r i l 30.
1898 (142 ro a d s )....
91,859
101,942914 157,643,920 I n c . 4,208,988
93.705
and for expenditure prepared by the same hand, and 1894(122 roads)..
97.955
95,357
143,581,643 104,043.811 D«C.21,402.209
145,108,71* 143,010.894 I n : . 1,491,822
1896,124 roads)..
99.200
99,101
adjusted with the single view of matching one another. 1800(130
roads)..
94.097
94.233
151,100.704 139.900.964 r n c .l l 199,800
152.100,780 163.1H8.94 8 D ec. 1.292.102
98,300
It is considered by the legislature, never with the 18971183 roads)..
09,030
purpose of increasing outlay, but with the wellDealing specifically with the grain movement, the
established object of restraining ministries from receipts of wheat for the five weeks ending May 1 the
unjustifiable extravagance.
Under this system the present year were 10,595,860 bushels against 9,923,679
strictest kind of economy in government is possible; bushels in the corresponding five weeks of last year ;
under our system such results are inconceiv but more than the whole gain appears at Duluth and
able. Mr. Cannon expressed last March the belief Minneapolis ; at the other primary markets the wheat
THE
928
CHRONICLE,
wti^
than lb 181*6* In corn the* &ggx&~
gtiie *!*f the receipts wn> only 8,678*476 hash el 8 against
bushels, in barley 1,461,861 bushels against
bushels, and In oats but d#052*038 bushels
sgtilttsS
$47 bushels.
rtoe* and ostaea
&aui rem
rive w«rks knbino may i and
jAJKCAftY i.
©9n%,
*£S *k i
fla p r* t W h m .
|
Bi&tm
5 * i<
ft » u
«8 M 9 t
: x& jm
l.TmjUIO
1,4*7,me.
im m i)
Apt
A p r .,
4 if.ifi l
I.7WO.H15.
lA tiijn v
W m .a » 5
A p r ... I lS d
# .. 3 « # * l i u L l ,
U m m Jm A,
S ffw it§ m k*. A p r ft « & « . A p r . ,
8 . a<w J a n . I .
ftta-ot- J m A ,
SIJU81S
prM K ’
7 0 0 .4 1 6
S j# .0 » |
5 ,1 4 3
10*4051
i r tm n\
1K97 I
iM
i
ISO?*
J8S*G
189?
UKWj
ir n g m
IT M M il
3 8 4 .0 7 2
6 1 4 ,04 1
10.3 ^7
4 0 ,0 6 0
m ***
5 w fe«- A p t . , It***b » k
A p r - IlfiN xsar
l$ij§*M J a n , . ! , ti&teS:
P m ru *~
5 m m . A p t . , IJ S T i
5 m m . A p r .,
0 3 ,6 1 4
1 6 0 .0 3 7 '
2 3 3 .2 7 ? '
n .A ib
S-t ,0 5 0 :
4 0 .2 0 0 '
33f» 2 0 0 ;
2 4 0 .6 0 0 !
631*000';
1« , . W :
B m m js c n l,
£ h * iw fA —
5- » t i A p r . , 18£»7
5 mkM. A p r , .
S i u e « J m a .1 ,
B m m J m a .1 ,188#
9QCLS65
8 .6 1 0 ,4 * 5
Y*v» «|rJM' 8 ,1 ? 1^4531
u u m
7 ,5 * 3 .6 1 1
* 3 2 .8 2 ^ 1 0 , -0 1 ,8 0 .7
5 v i a , A p r - IS®?
5 w k *. A p t..
■ P n e # J *tQui, l**^7
g ia o ® J a a , ! . l££*6
8 ,0 4 3
6 ,l l3 .0 t o ;
4 ,:i n ,0 -o
3 7,5 5 4
a * , u i ■ 1 4.0 74 .8201
3 0 , *80 2 0 ,2 3 3 ,9 2 0 '
M #m m * O u p —
$ w i * . A p r , , 1W i
S triiA , A $ * t-.
SUMS# i i 4 L L . 1P07
$&©««* J u su L , 1%‘M
1
fMtoli *t Aft— ?
6 w li. Apr*, lS»?f
ft- «rkjt Apc...
48UJ06
4I,*00
195.060
M i.n o
&40,000
2,719,54,5
i w .t o o
WJtMo 2,404,000 3,175,'. 35
01,200
00.47 u
445,350
834.&W
%m i m s \
79 I
in n A . X9PM l.lU .l* y
St7,4)O0l
1 3 ,0 1 6 '
3,OT;l,3W>u
3 * 8 ,i» l
a -4,782. i t j m
jm i
9,92a,«“9'
• too* Jht&JL. !£& ' 2.481,536.
£ fa e 4 J * it.t. t*n* V 9|083* 4L.3WH7S1
(hu*%
113,008
104.93r'
541,71*8
485,004
s m .m i
tli-JSKl!
S a r in .
(bu*h.
7 10.78?
NT4.il?*
5 022 «Of»
5,430,626
&0H*4©i
ta iM ii
i u .a u
Ft)
t iL T t t )
VSB&t
Ottlf*
j Ihm k.t
!,0t?.6O5| » 3
1.301,180 848,005
3,610,075
6,680,760
0l«,3to
225,700
6,2 -0,193;
1,828,900
2,8464*38
35.000
8,760
m o is
81,880
00.259
123.7SI
©54,05?
45,447
11,267
.110,050 14.05!
03*,607j 114,353
788,00 ! 56,455
11,146
3.7*0
30,JW4
11,80*
l.Tt'o
62.130
152.
861
90.300
iW.Sti
285.008
*08.
9
4
078,487 513,800 612,438
55.1HI 107,715
98.814
08,08*
184,61)3 3H8.O08
113
£68,248 311,201 11.i.oan
1.508,220 707.050
1,766.00!! 1,23*,500
7,484,370 a
1.808.U2O
8,023,660 5.347,950
I lls
mwsmTtmor
9,6' 0
14451
87,1"'j
03,05-1
67.900
158,2W
439,900
910,200
68,
617
5n,579
609,
117
108,089
67.270 135,339
153,359 296,511
1,57L.?0a
8 1.KJ2.2:
712.851 443,125
890.060; ........
324,
*92,73T .....
108,06540
70 3,080,710*
023,
80
“ 8,850
60S,*-50 l,6S9.010f ....42,680
..
1,090,000 2^,00!) ........
u.t4m50 3,000 .......
6,0125,
41.
.... .
71?
■
0,052,03,8 1401.861 312,078
8.8,809.367
075.4704o-8S.*D
r; 1.9 0469 259.78,,
!48.8iM0l:!lO,2«tl,50I l,Hfr,272
.
*A'166,50345.241.06^111,271.227 1,038,548
A: Chicago we have the receipts for the even month,
and here we find a loss in every one of the cereals
(with one minor exception), the total for April 1897
being only *,7X3,274 bushels, against 11,584,357 bush
els in. April 1896, as will appear by the following.
April
Since January
| um .
1896.
160,0^1 841,660
SO'.fllO
S.TWJ*? 4,111,801 2,1*0,26!
b jm M il nw & jm 4,660,302
1IS.M0
83.7SS
(m,mb
769,13*}
693,664
&Ts*.e<4| 11,681,86“ 7,803.4OM
iOLfil
391*220
sot!
1/97
1.051
IZPK .7/7, 12,493.810 14,077,9H
0,2d9,i*l* t,€#7M b
U ^«S§7* er^-.n■*
4.8562d
WtorniAtmh.
Oon9...&uKh
0*t».. bts.b,
Rjr*,, .bath.
Bmrtmr.bmh,
T«i»l irmiij
rw«r„ m»i».
Pork
Col
tgaA,. ..Jht
iATmhmr**''
1807.
1896.
1,620,000 3.331,741
17,417,817 2i.et(7,»i
27,73«520 80,793.682
618,108 501.854
6.062,105 5,489,800
52,253,288 64,811,280
830,972 788,874
88 ■
2,118
48,330.213 52,082.260
10,368,77? 25,804,522
2.602 34? 2,474.868
1.
o r oorroN * t mjotijbrn port * in Ap r il , and
J anfant 1 TO APRIJ. 30, IN 1897, 1806 AND i-*95.
April.
(Kftirttm......
f:mx»4 d ll’*Ae~«*#*.»*....
R*rwQtimnsm p, *,**
M.'vbihA.,, ... . . . . .
fliwrtdA-,,..
....
*.,*****.
,.
®ra»*'Wi«t, A o..,,*m».,
GAUttwtirm. , , .......
Pwrt
A-4,.....___
Wttl&lfogV--T. .
W mM n&rm* Mm
B rn im ........ .........
W«*f
Am,.,, >«.,*
TtftAi
imm.
tt,4t9 SMI!
1*6* h #307
67*742
I04M
i.810
4.441 2,073
f7.2?0
mjm.
fd.’ fi
0,^4
:»,»n
6*2^9
U0
i^ ii
*418
It
6
I’ *402- 10,7*2
2,900
i?
WLlii
i-UIKCnui. CHANGES IS G R O S S EARNINGS IN A P K I I ,.
In crea se*.
D ecreases.
M eilca n C e n tra l.......... $3 39,7 2? Cfhlcaco MU, & 8 t. P .. . $162,821
Canadian P acific..........
145,091 Norfolk A W e s te r n ___
117,656
Kan o Pitta. A G o lf...
134.349 Wabash.......... ..............
io o . 85 o
New York Central... . . .
91,960 Illinois Central ...........
71,004
M exican N a tio n a l____
82,69s Northern P a cific...........
69,061
southern R a ilw a y .........
70,743 Chicago A Gil. Truuk ..
42,298
Chesapeake <fe O h io. . . .
69,616 Burl. Cert. K. A N.irth’n
41,314
internal'] & G t N orth.
66,340 Chic. R, t, A P acific___
10,337
35,860
59,5.00 U iff, Koch. A Pitts . . . .
M exican Railw ay..........
Great N o r t h e n ............
56.512 Grand T ru nk.................
32,284
Texas <k P a c ific ............
57,599
Missouri P a cific............
48.793
39,440
Oregon RR. & N ar.......
OWIN', Orl. .t T. P a e ...
35,184
I n tsrooea n io...............
34,813
Louiav. & Nashv. . ....
3:4,999
Minn. St. P. ,t S. S. M ..
32,450
Totai (representing
19 road s)...............$1,396,847
Total (representing
10 roads.).............
$713,486-
As already stated, the poorest exhibits as a whole
are made by the roads ia the Middle and Middle West
ern States. Aside from the depression in business
there is oue other reason for this namely the fact that
many of the roads suffered also from a contraction in
the grain traffic. It is noteworthy, however, that
among these the larger trunk lines (so far as we have
returns from them) in one or two instances record
gains in earnings. For instance, the Slew York Cen
tral shows the best total for April of any year since
1893. The Wabash on the other hand show’s the
smallest total since 1894. Below is a six-year compari
son for a few of the trunk line roads.
EARNINGS OF TRUNK DINES.
-April.
1897.
1896.
?
$
1895.
1894.
1893.
*
t
*
| 200,402
* 325,900
1,108,971
1,499,954
289,475
93,000
3,705.064
993,196
4SX>,298
503,205
409,269
1,030.109
lU w .s s a
279,253
70,971
3,412.848
979,103
1,104,0821,422.319
248,552
' 81,628
8,450,289
900,126
1,004,224
1,355,801
252.392
78,940
8,272,785
873,482
1892.
1
186,528
297,373
1,113,070
1,612,324
333.055
98,179
3,695,848
1,052,962
1806.
1,906,628
12,105489
18,370,107
505,481 Total....... 7,002,635 7,768,503 7,770,641 7,306,399 8,270,541 8,329,936
.3,603,830 t i n eludes R om e W a te rto w n & O gd en sb u rg f o r all t h e years.
34,670,4H
In the case of the other roads in the Middle and
1,031,099
3,270 Middle Western States, the exceptions of roads having
57,012,541
20,110,415 enlarged totals are very few.
2,865,713
8ARNTNGBOF MIDDLE AND MIDDLE WESTERN ROADS
With reference to t he cott on movement, the receipts
Southern out ports were only 177,639 bales in
Ann!
against 181,151 bales in 1896 and 299.389
bah - in 1-•*97*. The shipments overland were 59,793
b a le s , against 02,765 bales and 122,587 bales.
m 7.
Wo have stated above that out of 133 roads, contrib
uting returns of earnings. t>8 record losses. Only 10
of these losses, however, exceed $30,000 in amount.
The Milwaukee & St. Paul leads with a decline of
$163,821; then comes the Norfolk & Western with a
decline of $117,656. then the Wabash with $100,850
decrease, the Illinois Central with $71,004 decrease,
the Northern Pacific with 800,001 decrease. &e. Prac
tically all sections of the country, it will be seen, are
represented in these losses. The annexed statement
indicates all the gains as well as all the losses above
$30,000.
8 . & 0 . 8.W | 400,751
Oh.4t Miss.
1,041,249
C.C.C'&ht-L
1,463,012
Q .T .o f Can.
230 955
C h .& G .T ,..
78,874
D .d .H & M .
3.504,808
N.Y.C.A H .f
878,253
Wabaah....
» l ‘. t l P n A t CHICAGO D ca rso APttlfc AND SINCE -JANUARY I.
IW7,
fVOL . L.XIV,
from
A p ril
1897.
1890.
1895.
1894.
1893.
1892.
«
$
»
f
t
»
80,510
A n n A r b o r .............
93.113
108,244
95,329
90,941
93,099
321,086
auff, R o c h .A P itt.
282,369
246,509
240.775
210,291
285,AM
319,29?
830*186
Chicago A B a st- III.
319,000
274,512
318,947
284,031
172,785
173,782
Ohio. & W e s t M ich. al21,!05 all0,08.5
l i 8 , l '0
147,053
276,83?
£14,011
285,929
Col. H . V. & T o l,
231,903
187,004
100,868
100,977
a89,293
97,903
99,277
D et.G r.R ap .& W es. al00,78l
87,099
102.8 r>
81,104
89,810
102,876
78,921
84,884
S ru a s v .& T e rro U.
203.615
230,4X2
223,472
234,393
H in t A P. M a rq ... <
227,081
190,737
223,132
268,921
269,100
200*202
103,341
239,843
Illin ois Ceutral
, 1,667.73? 1,038,741 1,681,8.39 1,400,852 1,678,420 1,520,444
204,H16
271.410
202,136
286,823
281,580
245,101
Lake E rie & W e st,
273,934
304,909
296,305
290.7 -8
280,957
290,192
L on g I s la n d .....,,.
110,377
113,774
144,301
118,142
Lou .E vans,A 3t,L .
117,199
114,089
280,993
285,821
291,121
285,548
281,484
251,285
ST, Y. O ht. M W est,
237,983
204,471
232,434
247,726
223,244
100,490
Plttsb'K * " ' i l l ’ ll.
101,954
168.802
132,420
149.198
133,605
144.143
T ol. & O h io C e n t ..
70.588
88,42?
68,703
70,760
74,007
60,738
T o l. Peo. & W e s L .
122,548
157,307
170/'64
15*4,205
138,320
114,224
T o!. SI. L. it K .C .
272,850
305,105
232,100
230,894
208,00')
271,571
West.. N .T . * P » .
121,872
08,010
120,200
130,037
120,321
119,587
W heel. A h . B r ie ..
|
iSlrtfi*/ mu*Jf*vl.
l»S>6. U»7. 1 1090. 1^96,
61,469 288,f<60j 221,08* 418,^44
4*347- 40,3 5 60,790 20,029
IS8,,6?9: 61*,7?0 5«8.zaj 817,2*0
7.(3’ >8.8 :1 ! 82,196 e8,704
1,205' 87.*B‘-i 13,030
83.653, i m , » : lv9,l 2 2x9,962
6.021j 4.2,379 29,886 41,007
l<M*nj TS.Rifi. «»440 110,139
ls.ew 37,04* 72,368
2P&m 33.H81
T o t a l....... .......... 4,099,730 6,244,155 6,103,102 4,710,559 6,059,214 [ .5,833,702
to]
ieel
J25
120
ia.iij ; iss.jstI 13?*l4l 135,5*9
* Include* the operations of the St. Louis Alton & Terre Haute for all
years.
10.1.27; 4,680 28,887 90,899 the
a Figures here for 1897 and 1893 are simply the totals of the earnings for the
four weeks of the month a* reported in the weekly returns; the month’*
80R.3>Wl.AJI.iVJS1! 37<V>55 2.OS0479 earnings
usually exceed the weekly estimates quite considerably.
THE CHRONICLE.
Ma y 15, 1897.J
Another group of roacls where the returns are generally unfavorable is the Northwestern. This perhaps
is not surprising seeing that those roads had a phe
nomenally large spring-wheat crop to move last year,
whereas the present year the crop was much smaller.
We have already brought out the fact that at both
Duluth and Minneapolis the wheat receipts the present
year were larger than last year in face of the smaller
crop. This will explain no doubt the gains in earnings
reported by a few of the roads like the Great North
ern, the “ Soo” , the St. Paul & Duluth and the Chi
cago Great Western.
In the case of most of the
roads in the spring-wheat districts, however, it is safe
to say that the grain traffic was much smaller than in
1896. At all events, in the aggregate the earnings
of the Northwestern group of roads fall behind
the amount of last year, as will he seen by the
following.
EARNINGS OF NORTHWESTERN LINES.
A p ril.
1897.
1896.
1895.
1894.
1893.
1892.
1
1
1
1
1
1
274.723
272.628
254,094
295.408
280,364
292.957
B u rl.C ed .R .A No.
2+1,183
282,049
370.640
3(0,187
348.665
363.835
Chic. G t. W e s t ....
Chlc.Mil.Jt 8t.P . i 2.203.708 2,366,589 2,054,183 2,257,234 i 2,044,058 2,428,010
l
143,980
M ilw au.A No.. 5
135.896
1,301,051 1.336,421
£Jhlc. R. I. A Pac
1,120.114 1,101,051 1,137,906. 1,878,870
131.451
112.116
167,979
D u lu th 9 .3 .A A tl.
111.380
139,404
179,062
1,173,657 1,081.541
605.512
G reat N orthern..
1,354,204 1,297,692 1,011.3*4
128,205
115,656
181.001
128,897
136,989
Iow a Central —
107.046
M tnn.A 3t. L ou is.
1 8,038
143.058
125.141
130.803
140,*16
123.472
99,181
St. Paul A D uluth
102.315
99,650
89,052
137.410
186463
T ota l .............
5.7*7.049' 5.994.956 5.279,277
5.245,306
8 5S0.48I* 6 214.759
Among the Pacific roads on the extreme north the
■Canadian Pacific, we should suppose, like some of the
United States roads, was favored by a larger wheat
movement. It reports $145,000 increase in earnings.
The Northern Pacific has $69,000 decrease.
EARNINGS OF PACIFIC ROADS.
April.
1897.
1 1890.
1895.
1
»
i
Ganad’n Pacific* 1.601.000 1.455,900 1.245,021
North’n Pacific. 1,252,204 j 1,321.265 1,807,736
Rio Gr. West’n..
190,700 197.700
195,073
Total..............
3.019.904 2.974.871 2.748.429
1894.
1893.
1892.
$
t
1.301.471 1,599.214
1,117,387 1,053,267
109,460
200.035
1
1,671.817
1.70»,461
212.952
2,5-8.318 3,452,5* 6
3,645.720
The two groups which have done better than any
others are the Southern and the Southwestern. In
both these groups the gains greatly outnumber the
losses. This cannot be explained by reference to the
cotton movement, which, as we have seen, in the aggre
gate did not equal that of last year. It seems to be
a fact, however, that general business in these parts
of the country has taken on a more hopeful aspect.
The following compares the earnings of nine Southern
roads for six years, and it will be seen that only two
of the nine roads record for 1897 smaller earnings than
for 1896.
EARNINGS OF SOUTHERN GROUP.
April.
1897.
t
892,855
105,360
*82.730
1,668.190
98,985
272.073
393,2*9
761,430
1,473,942
1890.
1895.
1894.
1893.
1892.
t
t
f
t
1
824,209 744,328
692,203 801,023
734,097
93.959
106,093
90,287
88,003
67,502
71,707
09.005
a74,200
73.039
81.173
1,634,191 1 432,2*4 1,307,909 1,075,503 1,020,027
90.C23
84,785
89A78 109.410
98,402
261,908 250,115 259,087
273.462 206,451
373,030 8*7,100
364,t98
380.341 410,964
788.320
+869.092 832,842
74*,2»8
028,015
1,403,199 1,398.410 1,360.320 1,459,0“0 1,406,880
Cbes. A Ohio.___
Georgia...............
Kan.C.Mem.ABIr.
Louisv. A Nashv.
Memphis AChar..
Mobile A Ohio
Nash.Chal.A St. I,.
Norfolk A West.b
South’n Railway.
Total........
5.038,812 5.537,093 5,312.019 6,072.550 5,838,778 5.559.735
a Figures here for 1*97 aud 1896 are simply the totals of the earnings for the
four weeks of the month as reported la the weekly returns; the month’s
earnings usually exceed the weekly estimates quite considerably.
b Including Scioto Valley A New England and Shenandoah Valley for all th
years.
t Figures are approximate, same as for this year: actual earnings were larger
In the Southwest, the St. Louis Southwestern and
the Denver & Rio Grande Railway are about the
only two roads of prominence that have fallen
behind.
929
EARNING3 OP SOUTHWESTERN GROUP,
1897.
April.
1896.
1895.
1894.
1893.
1892.
Den.&RioGr.
Int.& Gt. No..
K.C.F.S.&M..
Mo. K. & Tex.
Mo.P.&Ir.Mt.
8t. Jos.&G.I..
3t.L. Southw.
Texas & Pac.
*
545,500
t299,557
a 293,839
890,216
1,778,000
68,26“
321,500
401J4S
$
554,800
+233,217
a 286,419
886,717
1,729,207
63,135
329,438
434,249
t
$
546,470
500,468
239,108 236,851
358,442
382,731
901,352 781,900
1,813,493 1,814,036
44,915
72,741
355,762 325,194
477,672 475,528
f
652 834
326,492
432,166
886,636
2,011,091
72,686
411,025
522,602
Total..........
4,68“.748
4.507.182
4,737.214 4.589,449
5,316,092
$
624,080
270,811
422,920
718,921
1,958,429
302,078
471,278
a leisures Here fo r 189? an d L898 are sim p ly th e to ta ls o f th e earn in gs f o r t h e
fo u r w eeks o f th e m on th as re p o rte d in th e w eek ly r e t u r n s ; th e m o n t h ’ s
earnings u*ual Iv e x c e e d th e w e e k ly e stim a te s q u ite co n sid e ra b ly,
t G alveston H o u sto n & H e n d e rso n n o t in clu d ed f o r th e s e years.
G R O SS E A R N IN G S A N D M IL E A G E IN A P R IL .
Gross Earnings.
a
V i me of
Hoau
1897.
1896.
$
+ 14,22:
31(
310
84,14f
+ 13,797
19:
145
+3,568
37,07£
—568
18£
34,38f
3 0'
93,11c
+ 15,13:
51,01
—97*
276
—2.853
86
35,552
—29,539
92]
490.29C
+ 41
25
1,65:
34(
282,36?
—35,86+
—41,314 1,136
295,40“
1,455,90+
+ 145,09^ 6.476
2,601
55
—71
318,881
+4,269 1,528
824.20?
+68,646 1.36(
545
+369
319,297
+10,509
360,137
928
—162,821 6,151
2,366,581
—11,46?
222
76,45;
1,161,05
-4 0 ,3 3 7 3,571
+4,47*
576
116.635
349
58,717
—177
+35,184
203,11c
336
—5,9 5(
210
60,02)
+5,140 1,838
1,036, 01
192
120,525
—6,68(
—21,335
160,725
351
—27,007
346
214,01]
27c
51,743 ' +12,722
80(
22
+7( C
-9 ,3 0 0 1,66b
554.801
15«
32.055
—1,821
+70
112
10,931
334
89,29c
+11,486
—28,014
58£
139.404
189
100,020
+4,153
156
—3,523
25,689
102
8,729
—1.996
167
88,819
—7,655
+ 10,921
648
223,472
940
+8,957
204,374
469
+2,013
78,91k
80P
11
—209
+
9,079
307
96,287
+12,672
450
58,022
285
—2,369
65,280
436
—16,400
171,716
—4.556
86
37,873
26
3.682
—843
11,861
—3.071
37
—32.284 3,512
1,493,926
335
279,253
-4 2 ,2 9 8
189
76,971
+ 1,903
53
—3,312
12,568
+3,652
117
5,686
+60,733 3,720
1,032,714
72
100,332
—5,853
+ 1,632
256
158,646
+ 2,284
65
7.336
3,30?
62
-2 8 5
—71,004 3,127
1,638,741
152
34,714
—4.127
775
+66.340
233.211
531
+34,813
164,867
509
—29,94 *
136,989
20
-1 ,8 0 7
4,161
173
—4,669
39,631
+ 7,440
961
286,419
276
74,200
+ 8,536
+5,794
153
18,136
194
+3,478
10,987
523
45,999 + 134,349
35
+ 12,782
21,736
14*
-6 ,6 1 7
33,646
+639
61
4,601
725
285,82 *
— 14,383
—7,031
90
31,104
—16,794
376
290,728
7,414
—25*
50
-6 ,8 2 '
372
117,199
—4,868
166
38,579
+33,999 2,974
1,534,191
97
2,547
+ 826
44
9,013
—3,116
90,023
+8.902
330
810,818 +339,727 1,860
372,5a 1
+82,648 1,219
234,50(
321
+ 58,500
43,838
+ 18.399
227
138,03^
—14,566
386
257,796
+32,4o0 1,168
886,717
+ 3,409 2,19
1,069,22 <
+38,778 4.936
59,985
+ 10,015
386
149
13,25*
+ 3,099
273,462
687
— 1,3-9
90,306
+ 16.643
389
373,030
4-2*',199
905
+91,960 2,396
3,412,848
291,121
—1.128
481
195
142
189
307
278
88
921
22
340
1,136
6,444
55
1,521
1,360
521
928
6,168
222
3,571
576
349
336
210
1,838
192
350
346
273
22
1,666
150
112
334
588
189
156
102
167
635
940
469
11
307
265
265
436
86
26
37
3,512
335
189
53
117
3,720
72
256
65
62
3,127
152
775
531
497
20
173
961
276
153
194
339
35
148
61
725
90
378
50
372
166
2,956
97
44
330
1,860
1,219
321
227
370
1,168
2,060
4,936
388
149
687
389
902
2,305
47 7
1897.
1896.
$
116,968
$
102,74C
Alabama Gt.South’ n
Ala.N.O.Tex.APao.—
N. Orl. A No. East.
97,942
Ala. A Vicksb.......
40,643
Vicksb Shr.A Pao.
33,817
Ann Arbor..................
108,24^
Atlantic A Danville
50.037
Balt. Clies. A Atl ...
32.70C
Balt. & Ohio Southw.
460,754
Blrin’ham A Atlantic
1.70C
Buff. Rooh. A Pittsb.
246,509
Burl. Ced. R. A No...
254,094
Canadian Pacific....... 1,601,000
Carolina Midi aud___
2,538
Ceuiral of Georgia .
323 15C
Chesaoeage A Ohio..
892.855
Ohio. A East Illinois.
319,66*
Uhlc. Great Western.
37 ,646
Ohio. Mil. A 8t. Paul. 2,203,76*
Ohio. Peo.Jt St.Louie.
64,988
Ohio. R. Isl. & P ao... 1,120,714
Ohio. A West Mich...
121,105
Oln. Jack. A Mack___
58.54C
29*,30l
Cin.N.O.ATex.Pao.
Clev. Canton A S o ...
54.071
Tlev. Cin.Ch.A8t. L .. 1,041,*249
113,846
Clev. Lorain AWheel.
olorado Midland
139,391
187,004
Ool. Hock. Val. A Tol
Onl. San'ky. V Hook..
64,465
Colusa A Lake.........
1.500
Oenv. A RioGrande..
546,50.
D. Moines No & West.
30,234
D. Moines A Kan C ...
11,001
Det Gr.Rap. A Went.
100,784
111,390
Dal. So. Shore A Atl..
Elkin Joliet Sc E ast..
104,173
Evansv. A Indianap.
22,166
Evansv. A Richw’d..
6,733
Evansv. & T. Haute.
81,164
Flint A Pere Mara...
234,393
Fla. Cent. A Peuln...
213,331
Ft. Worth A D City..
80,925
Gadsden A Atl. U n..
600
Georgia.......................
105,366
Georgia & Alabama..
70,694
Ja. 8outh. & Florida
62,911
4r. Rapids A Indiana
155,31e
33,317
a n . Rich. * Ft. w ..
Traverse City.. ...
2,839
8,790
Musk. Gr.R.&Ind .
Jr Trunk of Canada. 1.4 1,642
Chic. A Gr. Trunk..
236,955
Det. Gr.Hav.AMil..
78,874
Cln. Sag. A Mack..
9,22(5
Tol. 8ag. ,fc Musk..
9,338
•t. No.—8. P. M. A M 1,093,447
Eastern of M inn...
100.479
Montana Ceutral..
160,278
Gulf Beaura’tA K. C
9,620
Gulf A Chicago........
3,018
Illinois Central!......... 1,567,737
Ind. Deo. A Western
30.587
Internafl & Gt. No :
299.557
Interoceanic *Mex.).6
199,680
Iowa Central..............
107,0* 6
Iron Railway..............
2,354
Kanawha A Mich___
34,962
Kan.C. Ft.8. A Mem..
293,859
Kan. C. Mem. & Btr.
82,736
Kan, City & N. W. ..
23,930
Kan. itv A Omaha .
14,465
Kan.C.Pittsb. A Gulf.
180,348
34,518
Kan. City Sub Belt
Keokuk A W’estern...
27.009
Lake Erie All. A So.
5,3oO
Lake Erie A Western
271,440
Lehigh A Hud. River
24.073
Long Island...............
273.934
Los Angeles Term...
7,156
Louisv. Evans. i S t .I .
110,377
Louisv.Hood ASt.L.a
33.711
Louisv. A Nashville.. l,568.19n
Macon A Birming’m.
3.373
Manistiaue.................
5,897
Meiup. A Charlest’n
98.985
Mexican Central....... 1,150,545
Mexican National.
455,289
Mexican Railway.b..
293,000
Mexican Southern...
62.212
Minn. A St. Louis___
123,472
290,246
Minn. St P.&S.Hte.M
Mo. Kans. ATex.svs.
890,216
Mo. Pao. A Iron Mt.
1,708.000
Central Brauoh___
70.000
16,3571
Mobile A Birm’ghain*
■wooile A Ohio............
272,073,
Mont. A Mex. G ulf...
107,039;
393,229
Nash. Chat. A St. L..
Y.Cen.A Hud.Rlv.
3,504,808
N. Y.Ont. & W ent....
289,993
Mileage.
Increase or
Decrease.
fo r n in ^ i
A rose
ta m e
C H
CHRONICLE.
T H E
8 3 0
o f M ood.
1896.
1897.
•
751.438
1.253.204
70.9* 8
M iU a ^
T n c r i a s t ©»
D ter«tg v
*
1897.
1896.
0
—117,050
-6 9 .0 6 1
— 10.759
+ 1.17'
-f 39,44C
—5,647
—978
+ 177
— 15.973
-7.58f>
—1.734
—?,98a*
—7,723
- 1 .00*1
+ 15. 33
—3,t*36
-7 .9 3 8
+ 2.003
-f 1,591
Okie Soutbrrp .......
OfWfou B R A N a t .
Poo Dee A E v .c .v
PUt*!> tlr*« A L E . .
B i b b U *b A Weal.
r t t . b A We»trrt>. ..
P h U b.C lov A Tol
Plttah. Pn A Fair.
Quid . Oiu i Ii» A K .C .
KJo Grsfcdr South'n
Rio Grande W«—left)
01. Jon 4 Gr. InlandSt. L Cble. A 8t. Paul
St. Louif SoutbWM'u
St. Paul A Duluth___
San Fran. A No,Pao.
•her flhrev.A ^outh.
tk>. Haven A En«Fu
houtbrrn Railway..
T exas Central............
Tex a* A P a cific... .
Tox. Sab, VaL A N'w
Tol a Ohio C entral..
Tol. Peoria A Weat'n.
Tol St. U K
CUT
t'n .I’sc. Den A G u lf
W•>***h ....................
WrM. >' Y «!k Penn.
t h w l . A Lake Erie..
Wlaeocaln Central.
860.092
1,331.266
81,667
58.697
50.9 74
315.1-75
27N.93?
64,093
47.6S2
48.01*
3.600
».777
147.70
131.735
05.023
73,20*
L!.^.a70
20,810
27.582
24.597
3?.461
27.736
1WH.700
197.700
68,208
53,13.6
19.173
22.809
321.50
329.438
102,31?
29.650
57.046
5?,458
16,875*
16,710
1.657
1,802
1,473.942 1,403.199
16,134
16.418
491. «48
434.249
2.210
1.PS4
14P,l9i"
132.420
5*- ,703
70.156
170,054
1458,2'*?
183,419
2 0 f ,370
878.2a%3
979.103
2
2 2 , 10 s
203.900
99,61*
12*',321
300,118
319,263
1.570 1,570
4.367 4.367
21ft
215
256
22*
1,059 1,059
33>
331
183
18-25
2ft
227
22'
77
77
61
61
139
139
180
18c
52*
530
231
251
119
119
1.223 1 .2 2 s
24^
248
165
165
155
15ft
+119
37
37
4-245
4-70,743 4,803 4,75
176
176
—284
+ 57.399 1.499 1,494*
38
38
+ 226
367
371
-1 6 .7 T 8
248
— 12.053
218
451
45
+ 11.759
974
974
+ 18 931
—IO .850 1 .9 3 s 1.936
**51
—18.20*
651
247
247
—21.711
-1 3 .1 4 5
894
894
Kola) '173 roadai.
38.147.090 37,604,856
+542,234 99,036 98,360
g o r fo lk A W o tU r o ..
K i-ftiir.ru Pacific . ...
• For tnree w eek, only.
> It elude* Si, I/ouIk Alton A Terre Haute for both years.
: Ram ins* ..f Galv H><ua. A Hen <eraou are exoluded for both years.
a Tbe earnlnga o f tills road for tbe mouth o f April, 1S95, were $33,459.
b F o rfo n r w eek , to April 24.
g r o ss e a r n in g s f r o m
Name
o f R oad.
Alabama (it. Southern.
Ala N. O. A T e r. Pac —
O. A Nortbeaet’n ...
Alabama A VlckabV .
V lck.burxS hr A Pao.
Ann A r b o r ....................
Atlantic A Danville .. *
Balt. < bee. A Atlantic..
Balt. A O. Southwest.
RinutnKnaiu A Atlantic
BtUT. Roch. A Plttatmrit.
Burl. CM Rap. A N o ...
Canadian Paclflc............
Qar«una M idland...........
Central <f U eontla___
dMMapcake A O blo.......
CWo. * E »»t’n Illinois.
Chic Great Weatern ..
Chic Xlltr. A St. Paul..
Chic. Peo. A St. I d o l s ..
Chic. Rock lal. A P a c ...
Chic, A Woat Michigan.
Ctn Jackaon A M ack ..
CtmN.O. A Texaa Pac.
Cleveland Canton A So..
O ev. Ctn. Chic. A S t-L.
Cleve. Lorain A Wheel .
Colorado Midland.......
Col. Hock. VaJ. A T ol...
Col. Sau'kT A Hoeklne.
Coluaa A Lake ..............
Deair A Rio Grande___
Des MolnraA Kan.Clty.
ties Moines No. A West
Oct. fir. Hap. A W eal...
Dnl. so. Shore A A t l....
Shrtn Joliet A Eaat.......
Branav. a Indianapolis
■ ra a«v . A Richm ond.
B-ratuv. A Terre Haute
Flint A Pere Marquette
f l a Cent- A Pentnaular
Ft. Worth A Denv, c ity
Oaoolen A Atalla Un..
•eorata . ........................
Oeoritta A Alabama ...
Oa. Sonth'n A Florida
Or. RaoM . A Indiana ..
Cbn Rich A Ft. Wayne
Tracerae C l t f . . . . . . , . ,
M m Gr. a A Ind___
Or Trunk o f C anada..
Chic. A Gr. Trunk ..
fret. Gr. II. A Mltw.
Ctn Saw A Mack . . . .
To edo Sac A Murk.
<5reat K or.H t.l’ .M .A M
taatrro o f Minnesota
Montana Central.......
Oul< Ke.umont A Cble
Outf A Chtcaeo . . . . . . .
OUnntt Central*............
Indiana free, A Went. ..
fn t A Great Northern.
Inter,Teanlc tMax.il .
{ * » • Central..... ............
Iron t t u l t a r .................
Kanawha A Mlehlran
Kanaoa C. Ft S.AMern
Kao City Mem. A Btr
K BBiM O ty A N . W . ..
Kanaaa City A Omaha
Kan. etty Pitta. A G olf
Kanaaa CHt sub. Hell
Keokuk A Weatern . ...
la Brta All!ante A So
I o t a trio A Weaiern
J a n u a r y i t o a p r il 30.
1897.
T
501.096
1896.
3
457.389
In c i ea st
D ecrtu
43,707
3.709
432,988
180,800
16,8313,*36
168,565
52,829
366,3^3
181,320
7,658
l i 2.777
4,272
1,992,233
87.016
7,213
166
987.652
2,084
1,444,772
255,437
5.759,563
44,600
17.036
2,553
1.782,51:*
60,447
284,82i
3,33 8.543
1,336,727
28.799
1.565.588
58,725
9,751,244
,080,962
317.83I49,358
4.737,147
287,298
491.639
119
228,19*
6,914
1,0*7,19
26,606
199.387
"2,512
4,099.47v
61,052
407.222
34,783
607,746
79,69 s
836.068
124,302
230.27*
10,28s
3.5W
l,800j
3 .195.953
202.309
3 /, 180
■'9,287
116,000
18,843
34«,870
87.740
569.7 0
141,137
443,725
65,831
99.541
17.899
31.7-7
8,9117
369.964
63, '85
921.54*
23.184
700,340
67,359;
25,19 j
294.68
3.41?
747
524.,566
"7,032
203,584
132,656!
285.94'
12,2 w
6 2,389
5 7.27 <
143.004
16.844
14.92.T
2,88
43.002
10.270
5,403.263
16,374'
1,083.74 9
126 ",05’
2*‘ 3,943
24,565
43.150
’ 9,412
i2 922
20.-<21
3,867.55190,8-7
460.10
104,666
008.8 8
13.529
23.009
13,563
13. *60
971
7,039.479
14 608
1 5 1 /6 6
21.991
990.090
146",*04
683.639
139,800
*43.968
16 2.159
1 6 .7 4
4.226
155,578
9. 38
1,419.535
44.913
376.04 •*
25,582
llft.f 53
8 5 .0 3 8
30.815
3 3 .1 4 5
7* ,55? j
41,410
547,063
19 ,49 *
3 t",lfi4
116.1* fI
66,343
32,762
114.51
13-.3.L5
23.817
26.042
22,1*64
2.678
1.''62.* 67
1.12» <
02.313
436,697
1H7.63.V
182,101
419.22.'
173,862
108,‘ Oft
1,605.217
7,(47
985,566
1,189.33
5,714.963
19,594
1.722,072
3.623.364
1,307,9*8!
1.506,863
(*.670,282!
26*-.4*0
4.449.841*
461,520
221.27c
1*113.799
196,8 5
4,150.531
372,439
528.- 51
711,766
240,55**
5.30U
1,993,3 U
46.467
127.157
386.61 0
426,563
378,043
81,642
22.840
305.979
898,34 a
767.69'*
819.877
2,66531,599
33«.24o
273.739
595.HO
126,160
12,543
33.332
5.419. 3:
963,6V*
308,5033.73 e
83.743
3.676.87 1
861.435
622,347
86.071
14.331
7.058.94:
129.575
1,130,394
8?8.»3t*;
4"*»,*0i«!
12.50146,44*
1,164.449
4 00,430 j
ya m e or
[VOL. LXTV.
1897.
R oad.
Leblith A Hudson R iver
Lo<« A ticH cm T erm inal..
Loulav. Evanav. A 81. L
Loutev. Heuil. A st. L.
Louisville A* Nashville..
Miu on At Hiriuliicham.
Manl*timip......................
Mtunphiti At Charleston.
vfexlcan National..........
Mexican Rail w a v :.........
Mexican Houthern.........
ftflniipapolia «fc 8t. Louis
H ln u .S t P .A S . 8t«. M.
Missouri K. <fe T ex. sys..
Mo. Paclflc
Iron M t..
Central Branch..........
Mobile <fc Birmingham*.
Monterey «k Mex Gulf.
Nash. Clmtt. & 8t. L ...
N. Y. Cent. <fc Hud. Rlv..
N Y. Ontario
W est’ l l ..
Norfolk & W estern..v*.
Ohio Southern................
OreROti Ry. & ITav’ n ...
Peoria Dec. & Evansv.
Pittsb. Bess. A L. Erie..
Pitts. Lieb vV West .......
Pittsburii A W estern__
Pittsb. Cleve. & Tol....
Pittsb. Paines. & F’ pt
^uincv Omaha
K. C ..
Rio (irande Southern...
Rio Grande W estern___
■it Jos. A Grand Island.
3t. Louis Chi* .<k 8t. Paul
3t Louis Southwestern
San Fran.A No. Paciflo
Sherman ShreYe. A S o ..
8<»uth Haven A K st’D
Southern Hallway __
Texas tfe Paclflc..............
Tex. Sab. Val. A N. W
Toledo & Ohio Oeutral.
Toledo Peoria dr West’ n
Tol. St. L. A Kan. City.
U d ' od Pac. Den. A Gulf*
West. N. Y . A Pa...........
Wheeling A Lake E r ie ..
W isconsin Central.........
1896.
In erea w t.
$
*
*
105,703
894,450
22,443
430.482
140.173
6,433,480
20.238
34.990
415.777
4,376.934
1,900 743
1,159,500
241.571
55?,756
977,*'93
3.514,127. 94.00*
329.000
97,663
1.245,306
463.52e
1.64 2,466
13.038,233
1,108,82'.
3.331.516
4,595.085
268.677
21 .449
1,179,319
280,90*157.699
15,68*
461.649
226.833
67.«48
92.313
105,534
714,04'
*
124.983
921,947
31,209
458,856
14?,703
6,420.228
13,25s
20,294
42,421
427.021
3 . 279 .77 7 1,097,157
310,601
1.684.132
194,500
965,000
180,356
61.215
594.718
1.017.331
3.70^.360
6.942,71*0
151,27**
228.920
100.090
05, <31
12.332
1.151,242
94,084
386.067
77.459
1,660.910
13,696,758
1.055,002
53,820
3,709,88
4.854,76s
303,081
251.996
1,227.509
282.046
188,72
13, 34
1.754
493.015
*
252.777
68.641
99 .-2 5
139,736
690,124
23,921
3 5 4 ,45 3
197.216
157,237
92,183
92,148
1.425.700
1,548,6*8
379.187
391.237
202.433
194,438
39.343
85,630
3,709
6.706
5.182
1,524
6,317,591
6,100,90*
216,787
09,207
77.057
2,130.206
2.059,975
70.231
11,105
10.056
1,049
325,566
576.365
2-5,676
324.280
(9 1.07 3
610,6 17
80,25V
865,567
955,51 1
89,944
3,512.61*
3,884,545
818.096
851,019
400,863
321,953
1,235,439
1,226.415
9,024
Total (133 roads). . . . 152,196,786 153,488,948
Net (leorease.................
D oer a te .
19,280
27,517
8.826
28.374
2,230
56
7,431
11,844
41.962
69.738
194,241
18,444
58,526
378,373
359,683
34.404
38,547
48,190
1,141
31,028
31.367
*5.944
993
7,382
34/202
35
122,948
12,050
7,995
7,850
5* *.799
48.604
371.935
32,923
78,910
4,488,877 5,781,039
* F or three weeks only in April.
t Include** 8t. Louis A lton <fe Terre Haute for both years.
: To A pril 24.
Stcxt.-, Exchange C learing -H ouse T ransactions .—The
subjoined statement includes the transactions of the Stock
Exchange Clearing-House from May 3 down to and including
Friday, May 14 ; also the aggregates for January to April in
clusive in 1897 and 1896.
•TOOK BXOQANGB OLBABINO SO08B TBAN8AOTIORS
— S h a r e i,
C le a r ed .
1897—
January...
February..
March......
April.......
b o t h ft d e g .—,
T o ta l V a lu e .
12.0t0.780
IO.223.KO0
18141.000
11 1--2.800
$
773.bil0.000
709.500.000
L270.700.000
1,022,200,000
4 m ot.., 64.547,900 8.78L400,000
—S h a r e ! , b o t h s i d e s —.
C le a r ed .
1897May 3.
4.
5.
•• 0
•• 7.
1 o ta l V a lu e .
5 4 2 .0 0 0
8
3°,100,000
36.500,000
--------- B
a l a n c e ! , o n e l i d e -------- S h e e n
S h a ree. V a lu e S h a ree. O a sh . C le a r ed
8
$
1.425.500
1.098.500
1.918,790
1.357,300
74900.000 L 088.900
50.500.000
879.400
118.209,000 L553.20U
82.200.000 L334.900
6.790.000
329,800.000
4.811400
5.000
6.248
7.195
0.071
21,114
o n e s i d e . ------- , S h e e t s
V a lu e S h a res. C a sh . C le a r e d .
s
»
.-------- B a l a n c e s ,
S h ares.
52,000
45.300
8-4.300
67,700
60,700
3, -0 >,000 51,400
2.80 *.000 36,300
5 ,8 00/)00 117,900
4.800,000 66.209
3,800.000 46.200
296
277
318
302
299
309,000 20,30 J.OOO 318,500
289.600 16,200.000 224.900
71,000 4,100.000 69,200
3.000,000 40.400
57,100
69.500 4,300,000 43,300
57.400 3.300,000 42,800
56.900 3.100.000 56.800
1,492
1.418
317
288
300
282
289
Tot. wk 3,139.900 217.601.000 312,10 » 18,000.00* 252,500
W klM tyr2,618.300 133,000,000 295,000 17.500,000 205,300
1.4 74
1,37 5
488,500
853,100
667,600
5 9 5 ,1 0 0
rot. w «. 3,146,300
Wklaatyr2,402,000
May 10
832. *00
504.200
•• 11.
678,100
•• 12.
535. LOO
•' 13
*• 14
59 0.0)0
6 8 ,4 0 0 ,0 0 0
49,200.000
4 2,10), 000
214.300,000
159,800,000
58,400,000
32.200,000
47,900,0 )0
3 7 ,5 0 0 .0 0 0
41.60 ,0J0
The stocks cleared now are American Cotton Oil common,
American Spirits common and preferred, American Sugar
common, American Tobacco common, Atchison common
and preferred, Baltimore & Ohio, Central of N . J ., Chesa
peake & Ohio, Chicago Burlington & Quincy, C. C. C. & St.
L., Chicago Oas, Chicago Milwaukee & St. Paul common,
Chicago & North Western common, Chicago Rock Island &
Pacific, Chicago St. Paul Minneapolis & Omaha com
mon, Delaware & Hudson, Delaware Lackawanna & W est
ern, Erie, General Electric, Lake Shore & Michigan South
ern, Louisville & Nashville. Manhattan, Missouri Kansas &
Texas preferred, Missouri Pacific. National Lead common,
New York Central. New York Oatario & Western. New York
Susquehanna & Western preferred, Northern Pacific pre
ferred, Pacific Mail, Reading, Southern Railway common <&
Dreferred Tennessee Coal & Iron. Texas & Pacific. Union
Pacific, United States Leather common and preferred, United
States Rubber common, Wabash common and preferred,
Western Union and Wheeling & Lake Erie c o m m o n .™ j j
THE CHRONICLE.
Ma t 15, 1897.]
931
6 per c e n t ; and he also sees that the owner of securities of
all kinds listed and dealt in on the stock exchanges can
borrow m oney, generally, on call for about 2 per cent, and
That there is an insufficiency of borrowing and banking on time for between 2 and 4 per cent.
The great basis o f all national wealth is the farming in
facilities in some parts of the country must be admitted, and
while it is true that the money is sufficient to do all the dustry. It feeds the people, creates and runs the railroads,
necessary business, it is congested— it is not distributed, it and sets in motion the wheels of all manufacturing indus
does not flow equally from any m ain reservoir into the chan tries; and while the shares and bonds of railroads and other
nels of our geographical and financial system. In some sec industrial corporations can be readily used as mediums for
tions money is a d r u g ; in others it cannot be had at a l l ; and effectuating loans at cheap rates of interest, the men who
in still other sections business is even transacted b y the constitute the base of all national wealth are compelled to
pay extravagant and ruinous percentages for the use of
pristine method of barter and exchange.
Now, while we are free from the heat and passion of any the money they borrow. W h en we study these suggestions
political contest, when professional politics and demagogism calmly, away from the smoke and passion of political con
do not obscure the real questions involved, the m om ent is tests, it does not seem strange or unnatural that the farm
propitious, in a spirit of non-partisanship, to search for some ers become at times persistent agitators for new and organic
method of relief by which money m ay be better distributed schemes, and are advocates for m any theories which prom
ise change even though they give no assurance of relief
and borrowing facilities enlarged
It is an unquestionable fact that this cry for more money from existing conditions.
Another striking feature of the subject which I am con
emanates from, and is more keenly heard in, those sections
of the country where agricultural and farming pursuits pre sidering is the inequality between the rates of interest ex
vail, and where banking facilities are either totally lacking isting in the different States of the U nion; and any economic
or deficient. The importance of this agricultural interest measure or legislation which has for its purpose and effect
will be appreciated by a recourse to the figures presented in the equalizing of such rates ought to receive prompt and
the Census of 1890. According to that authority, there is substantial encouragement from all classes of people. W h en
§21,000,000,000 invested in farms and agricultural indus certain country or farm property is equally good and advan
tries, and 70 per cent of the population of the United States tageously situated, and earning equally as much net income
is engaged therein; and it follows, as a mere matter of course, as a similar kind of property situated in a different place,
that the wealth and sustenance of this great nation depend the owner of the former should be able to borrow his money
almost solely upon the success of these pursuits.
at the same rate of interest as the latter.
There are §3,000,000,000 actually loaned on farm properties
The substantial reason for this disparity seems to arise
from a lack of proper borrowing facilities, and if we had a
alone.
There are 5,000,000 farms in cultivation, with their im system by which they would be established in all sections
provements, estimated a t..........................................§15,000,000,000 of the country, as far as the loaning of money is concerned,
there would seem to be no doubt that many inequalities such
The value of tools, implements and machinery
on farm products amounts to . . . .................
600,000,000 as I have alluded to above would substantially disappear.
The value of live stock on said farms is esti
The disparity in the rates of interest in the different States
mated at........................................................................ 2,500,00 \000 of the Union is most striking.
And the yearly average value of farm pro luces
The interest laws show that the legal rates of interest
is estimated at............................................................ 3,000,000,000 exceed 6? in tw enty o f the States and Territories; in nine
States, viz , Alabama, Georgia, Illinois, Indiana. Iowa.
Making a grand total.............................................. §21,100,000,000
Louisiana, Missouri, Ohio and South Carolina, the rate of in
It appears from the Census of 1890 that the
terest allowed by contract varies from 7? to 9? inclusive; in
number of real estate mortgages on acres of
seventeen States, Arkansas, Minnesota, Mississippi. Ne
land as contradistinguished from feet, was
braska. New Mexico, North Dakota, Oregon, South Dakota,
2,303,061, amounting to............................................ §2,209,148,431
Texas, W ashington, W isconsin and W yom in g, the rate
The number of mortgage loans on lots was
varies from 10? to 18? inclusive. In the following eleven
2,474,637, amounting t o .......................................... 3,810,53' ,554
States, viz., Louisiana, California, Colorado, Connecticut,
Maine, Massachusetts, Montana, Nevada, Oklahoma, Rhode
Thus showing a total number of real estate
Island and Utah any rate of interest is allowed by contract.
mortgages in force Jan. 1, 1890, to be
The history of political contests in this country shows
4,777,698, amounting t o .........................................§6,019,679,985
The inequality existing in the power to borrow money on that as long as the prices for cereals and other products are
the part of the farmers, on the one side, and of the mer compensative to the farmer, his voice is seldom heard in
chants or owners o f personal securities engaged in financial agitation for measures which are novel, and which tend, so
and mercantile pursuits, on the other, is vivid and striking. to speak, to shock and alarm the confidence of what is
Alm ost every avenue is closed to the farmer. The doors of known as the financial world. But when the rates of his
all the national banks are shut u d o u him. They are prohib products are so low and unremunerative that he finds it
ited from loaning money on real estate, and the history of impossible to obtain the necessaries of life, he becomes a
the legislation of this country, instead of exhibiting a desire natural agitator for quick and prompt measures of re lie f;
to aid and accelerate the business of the agriculturist, has and sometimes without regard either to his own ulterior bene
been almost systematically indifferent to him and his inter fit or the general interests of the country. A t such periods
ests. The money lenders and the money interests are all when he finds that he can neither obtain money on his lands
centered in the large cities, and th9 farmer has not been or his crops at all, or else at an excessive and ruinous rate of in
able to borrow with any ease, either on his land or on his terest, and when he sees that merchants and all classes of per
crops, but he is very frequently compelled to sacrifice his sons engaged in commercial and financial pursuits are able to
products and his land to his existing financial needs and get money upon personal property, notes and other kinds of
necessities. W h en the former can borrow money at all, he corporation securities, at comparatively insignificant rates
is compelled to pay rates of interest which average from 10 when compared to those which he is compelled to pay,
to 15 per cent, including commissions, and for the §3,000,000,- at such times, I say. it is simply human nature that he
000 which the agriculturists of this country have borrowed should complain and be discontented.
The important question, therefore, to be solved, is whether
upon their farms, they are paying an average rate of inter
est amounting to §300.000,000 a year. The farmer knows there is any practicable and substantial way by which
that while he is compelled to pay this heavy rate of interest above conditions of affairs can be remedied. Is there any
to obtain the money, persons who are engaged in any practical system by which the real wealth of the farmer,
reputable or established commercial or mercantile business both in his land and products, can be used as a means upon
can procure their loans at rates not exceeding an average of which he can borrow money at the same rates of interest as
persons holding personal property ? Is there any means by
* We give this comm unication, not b eca u se w e ca n com m en d the which real estate and improved farm lands can be made a
proposal as it stands, or believe it to be w h olly p ra ctica b le , b u t beca u se
safe and easy basis for loans of money? If there be such, the
the object sought Is em inently d esira b le and the w riter’ s su gg estio n s
are no doubt conceived in a spirit, as he says, o f " g en u in e p a tr io tism ." remedy should be adopted immediately. There is no doubt
that, even in cities, the facilities for borrowing money upon
- [ E d it o r o p t h e C o m m e r c ia l a n d F in a n c ia l C h r o n ic l e .
A
PLAN
FOR
IM PR O VIN G
F A C IL IT IE S *
BORROWING
932
THE OHRONICLK
[Yon, Lxrv.
Another im portant suggestion must also be born e'in m ind
rtf*!
ha» been In many eases iw r e o r loss difficult and
in m w M contrast w ith tin raw; w ith w hich tha ow ner o f in this conn ection : Since tw en ty years there has grow n up
,-unsi- - o f tfcilmt i« and i'or|»*rati«»!is can obtain loan® in tliis country a large class o f persons w ith small fortunes,
ranging from three to tw enty-five thousand dollars, w hat
thcroxti.
W ithin lb * last fow yuan* in the State o f New \ orlc. are called in France “ les petits rentiers” , a class o f sm all
Itettngh a - •!*” :» o f im proved con veyan cin g, anti by means capitalists most im portant and strong.
In the financial negotiations w hich have h eretofore taken
o f fit Sc £uaraat>«' com panies, th e means o f borrow ing
n v n e y upon real estate has been made m uch more easy, ' place in this cou n try, in railroad and other securities, no
hut even t - day the ow ner o f a piece o f real estate upon I systematic appeals have ever been made to this v ery large
Fifth Avenue fin is little or no favor in W all Street, where |class o f capitalists, and no direct effort has ever been made
the bolder o f insecure and even w orthless railroad m ortgage |to secure the investm ent o f sm all sums o f m oney in legiti
bonds or st teles, quoted on the New Y ork Stock Ex mate investm ents. This class o f investors has placed its
change- n»»v readily effectuate a tem porary, or time loan, m oney in Savings Ranks and B uilding Loan Companies.
up to eighty or ninety per cen t o f the existing quoted They, therefore, present an entire n ew field for exploitation
value. Wall Street has sternly set its face against loans on ! and developm ent, and if th ey can be con v in ced chat the
real estate, and so have the national banks, w hich , as I have stock and bonds o f the Com pany w h ich w e propose to estab
sa id before, arc prohibited from 1en din g on an y such se lish constitute a safe and stable security, a largo am ount of
cu r ity . W hile all lenders are generally w illing to adm it i m oney w ould flow in to the Com pany, and all o f its issues
that g khI real •-t st« constitutes the safest basis for loans, w ould be absorbed, w ith ou t any regard to the con tribu tion
safer than railroad or corporation securities, the difficulty o f |o f large capitalists, w ho have h eretofore exclu sively ap
*•turning " these loans, or qu ickly realizing upon them, has peared in financial negotiations. W ith this necessary pre
always rendered them objection able and unfashionable. face, I w ill proceed to state the nature and general ob jects
The truth o f the m atter is that the question has never been and purposes o f the “ Loan and M ortgage Bank Com pany o f
seriously studied in this cou n try, and no system atic move- the U nited States.”
It is proposed to establish a com pany under a special char
m ent has ever he«n made tow ards endeavoring to rem edy
the inequality existing between loans on real and personal ter from th e G overnm ent o f the U n ited States, w ith
property. O f course, this difficulty has largely arisen from a capital o f $100,000,000, divided in to shares o f $10
the fact that, in mailing a loan upon railroad securities, the each, to open books of subscription all over the U nited
promise’* o f the com pany secured by one m ortgage are split States and to invite people generally to subscribe for
up into bonds o f the denom inations o f $100, $500 or the shares, no one person having the right to receive m ore
$1 ,000 each, so that they can be transferred from hand to than $1,000 o f the stock unless the whole am ount is not
hand and do not put upon any one or a fe w individuals the taken, in w h ich case it w ill be aw arded to reserved sub
burden o f carrying the whole loan; whereas in real estate scribers. This makes the Com pany the bank o f the people
thv largest loans, some o f w hich in the City o f New Y ork and gives it at on ce a stamp o f popularity w h ich can not be
have am ounted in single instances to as high as $3,- effaced from it.
There is at present on deposit in the savings banks and
Ovd.fOO are represented by one bond and mortgage, and the
whole transaction is borne by one individual, estate or buildin g loan associations in this cou n try three billion dollars
($3,000,000,000) and it is assumed that m any o f the depositors
corporation.
The question o f discovering a rem edy for the condition of in these institutions w ill subscribe fo r the n ew stock. I f all
affairs above described has been the su bject o f serious o f the $100,000,000 should , be w ithdraw n from the savings
thought and study by a few gentlem en in this city for the banks and the buildin g loan associations it w ould not exceed
last yuar. The remedy, we think, exists in decentralizing one-thirtieth o f the w hole am ount deposited w ith them ,
lo in - upon real estate, and in segregating and distributing but it is believed that inasm uch as subscriptions to the
one lean among many investors, as is follow ed in loans upon shares o f stock o f this com pany w ill be received in sums o f
railroad property, and it can be obtained by the establish- $10 and upwards, that a large am ount w ill be taken b y per
tneni of a com pany in the nature o f a Loan & M ortgage sons other than those w ho are depositors in and subscribers
Com pany—a charter for w hich I have already drawn and to savings banks and bu ildin g loan associations, and who
«
b it i- proposed to call the Loan & Mortgage Company are their ow n custodians o f their savings and capital.
o f the U nited States. I would have some hesitation in pre
It is im possible to state w hat am ount o f m oney is held and
sen ting the above and the follow in g views to the public if secreted b y individuals in their ow n hom es; bu t it is
I had not been able to find ample precedents for them in know n to be very large, and if it can be m ade plain to this
foreign countries; which establish the entire practicability last class o f persons that an investm ent o f this kind is safe,
» n i perfect success o f such institutions. A com pany similar subscriptions w ill u ndoubtedly be received from that source.
to that «-,» m»w prop
to ask Congress to incorporate and The opinion an d belief that this $100,000,000 can be procured
establish i< to be found in France under the name o f the from the people at large is based upon the fa ct that in the
“ Credit Foncier", which has existed w ith the most extra charter there w ill be em bodied restrictions and lim itations
ordinary success since 1852, not even suspending the pay upon the business and operations o f the Com pany that w ill
ment of its interest during the terrible Franeo-Prussian carry con viction to persons asked to subscribe that the in
W ar, and Dm Com m unistic rebellion whioh raged subse stitution w ill be condu cted upon the best, m ost stable and
quently m France. In G erm any a similar system lias sno- safest principles o f banking. That the subscribers to the
ce-Mfuity existed f-tr a hundred years, an d also in Austria stock o f the Com pany w ill receive a yearly dividend upon
» » d Egypt Credit F*>neier Companies have been operated their shares there would seem to exist no doubt. The lon g
w ith com plete »nco*st for many years past.
and prosperous experience o f the Credit Foncier o f France
It; the outset, I wish to affirm th at there are no conditions strongly confirm s this opinion.
o f di~ in.ilarity existing between this country and the
Besides im portant sums taken from the profits every year
countries where the mortgage and loan com panies have and set aside as surplus reserve to the capital stock, the
h* cn established, w hich would render them objection able yearly dividends paid to stockholders during the last five
and im practicable, nor can the objection be urged to the years, 1896, 1895, 189-1, 1893, 1892 have am ounted respectively
Company w hich we propose to establish that it has to 26, 26, 14, 44 and 45 francs, thus show ing a rate o f divi
already been tried and found w anting in this country dends ran gin g from SMfi to 9; per annum , n et o f taxes.
in previous years.
S o sim ilarity exists in the few at
Dividends have been continuous and m u ch higher in the
t* rn-,i’ w icch her- ixon heretofore made do establish mort- past; th e decrease being alm ost exclu sively due to the con
g»gr> and loan companies and the com pany here proposed.
stant low ering o f the value o f m oney, ow in g to the prosperity
Tl>« difference is fundamental and marked, as will be o f th at country.
seen hereafter, but it may be explained in this connection
It is not proposed to ask the G overnm ent o f the U nited
th v' among otdi-r r.-asmis w hich made these small institu States to subscribe One Dollar to the capital o f the com
tion* unsuccessful in this coun try was a lack of ample cap pany, hut, on the contrary, one o f the purposes o f the in cor
ital. arm ir '! -iIcy to - dl their hoods, and o f loaning money porators and condition s under w hich the charter w ill be
on ly for short and fixed periods, instead o f for long periods asked from Congress will he that the com pany shall, on the
w.'th the amortization " or sinking fund clem ent, which is G overnm ent’s dem and a t all times, be ready to advance a t
the whole life and vitality o f the principle.
least $25,000,000 to the G overnm ent at curren t rates o f
May 15, 1897.]
i’£IE C3K0NLCLE.
interest, for which the Company shall receive Certificates on
short term, or other obligations, repayable out of the Gov
ernment receipts, or otherwise, as circumstances m ay per
m it. In addition to these restrictions and limitations the
Government will have the right to appoint the Governor or
President, of the Bank, and two Directors, to look after the
interests of the shareholders and bondholders, and also to
appoint a special Auditor, who shall make and publish
monthly reports of the condition of the Company, which re
ports will be supplemented by regular quarterly reports
made under oath by the Executive or Managing Board of
Directors. In fine, no known existing precautions or condi
tions to make a safe, successful and profitable company will
be neglected in the Charter.
The powers and objects of the Company will be generally
as fo llow s:
F irst . — To make and facilitate first mortgage loans on im
proved rural, urban and suburban real estate, capable of
producing continuous and stable income, and to make such
loans upon every species of indebtedness or obligation,
whose repayment is secured or guaranteed by first lien or
mortgage upon real property, at a rate of interest not to ex
ceed 6 per cent, which loan shall not exceed in any case 50
per cent of the actual cash value of the said properties as
determined by competent sworn appraisers, whose m ove
ments will be guarded and regulated by such rules as will
make it practically impossible for the Company to lose
money. It is stated that in forty-five years, under the regu
lations established by the “ Credit Foncier ” for loaning
money, it has not lost a single dollar, and the Company has
acquired by purchase during that time only Six Millions of
Dollars of real estate out of a business represented by
$750,000,000 of assets.
The loans made by the proposed Company shall be made
for short terms, not exceeding fifteen years, and repayable
in full at the end of a fixed period, and for long terms rang
ing from fifteen to seventy-five years, repayable in period
ical instalments which shall include principal, interest and
charges. The borrower on either short or long terms to
have the privilege of discharging at any tim e, in full or part,
the balance of his indebtedness. These loans are to be nego
tiated through the principal office of the company at
Washington or through branch offices or agencies of the
company, which will be established in all parts of the
country.
S econd . — In addition to the capital of $100,000,000 which
the company proposes to have, it will be authorized to issue
its bonds bearing interest at as low a rate as 3'65 per cent, or
l c . a day, if possible, against every operation which it may
make in loaning money upon real property. In other words,
if the company should make a loan of $1,000 upon a
piece of property worth $2,000, it has a right to issue its
bonds for $1,000 to cover that transaction, which bond
will be issued in series to represent the transaction against
which it is issued; that is to say, if a loan is made upon a
piece of property for $1,000 for seventy-five years, the
bond of the company will be issued to mature within the
same period of time, and for the purpose of paying them
within the above period of time an amortization or sinking
fund will be created which will secure the repayment of
the bond of the company.
The method of doing business would be practically as fol
lows: A farmer wishes to borrow, say $1,000 on a farm
worth $2,000; the loan is arranged and the company pays
the farmer either in its bond at par, bearing 3'65;«' interest
as aforesaid, or in cash, as it m ay deem proper.
The Company proposes to charge the farmer interest at
the rate of 4'65'.', and it collects from him this interest quar
terly, or half-yearly, as m ay be determined, together with
the expenses and the sinking fund, amounting altogether to
5'50g which includes an extra reserve fund either to cover
extra losses or to reduce eventually the amount of his
annuity. By this operation the farmer or borrower, who
ever he may be, has secured a loan for 75 years, and he is
never called upon to pay the principal, because by the small
payment which he makes each year the principal is even
tually paid.
If the borrower however wishes to anticipate at any time
the payment of his loan, he has the privilege of doing so
upon paying to the Company the difference which he owes
at the time of the anticipated payment. The figures which
933
I now give will illustrate clearly the transaction to the
farmer or borrower.
Annuity paid by borrower to cover interest, repayment
o f loan, management and running expenses, and extra
reserve fund, on a loan of $1,000 repayable within 75 years,
$55 divided as follow s:
Interest and sinking fund to retire bonds at 3'66;L . .$39 30
Expense fund, including extra reserve and profits.. . 15 70
Total annuity........................... ................................................$55 00
By this system the farmer secures a loan for about 4'65£
interest and he makes additional payments to the sinking or
amortization fund and extra reserve, which m ay eventually
lessen the annual cost of his loan.
A s has been shown above, the amount of loans on farm
property in this country amounts to $3,000,00-1,000, bearing a
rate of interest, as we have shown, averaging about 10,». The
effect of the establishment of this company will be to pay
off and release a great portion of this large debt, which weighs
so heavily upon the agriculturists, and it will save to that
class yearly a large amount of interest. Besides the money
which is released must flow into other lands or other chan
nels and will necessarily benefit the whole farming and
business interests of the country.
It is proposed to give the Company the power to issue its
bonds in twenty times the amount of its capital, reserve
and surplus, which at the m im im um would enable it to
create $2,000,000,000 of these obligations.
The effect o f m aking loans to the farmer and other bor
rowers to the extent of $2,000,000,000 at the low rate con
templated will be to save to the borrowing community
about $100,000,000 a year, being the difference in interest
on $2,00 ),000,000, between 4'65 and 10 per cent, which is
now paid.
The bonds of the company will be issued in denominations
as low as $10 with interest coupons attached, and as it is
assumed that when they are known to the people these
bonds and coupons will circulate as currency, the available
circulation of the country will be to this extent enlarged.
In respect to its $100,000,0 0 of capital the Company
will be bound to hold one quarter, or 25 millions, thereof as
a reserve fund, which must be invested in Government
bonds, m aking such reserve absolutely invulnerable.
W ith the balance of its capital of 75 millions the company
can make all the operations and loans contemplated in the
description of its powers, which are hereafter given, havin g
in view the assisting o : the farmer and laborer in their
operations, that being the predominating motive and pur
pose of the charter.
T h ir d .— The Company shall have the right to make short
time loans on collateral securities, to receive money on de
posit for fixed terms at a fixed rate of interest, but such de
posits not to be subject to withdrawal by demand checks.
To undertake the management of sinking and redemption
funds or annuities with municipalities.
To subscribe and bid for all loans of the Government,
States, municipalities, railroads or other private or public
corporations, or individuals, when sufficient amj proper se
curities are given.
It will also be clothed with power to erect, possess, rent,
lease, manage, buy and sell grain elevators and warehouses;
to make loans upon imperishable farm or other natural or
manufactured land products, and upon all kinds of grain,
cereal, cotton, tobacco, leather, mineral oil and other pro
ducts; either on its own behalf or as agent for others; to
act as agent or trustee upon the reorganization or consoli
dation of all kinds of corporations, municipal or private, to
act as trustee or executor and administrator, and in settle
ment of estates, and to transact all operations and business
of trust and warehouse companies; to deal in all of its own
securities, except in the shares of its Capital Stock, and to
generally have all powers necessary for carrying into effect
the purposes and schemes of the charter, which are to be as
nearly as possible assimilated to the powers now exercised
by the “ Credit Foncier of France.”
The Company, however, shall not have the power to issue
Bank notes or bills, or discount commercial paper, or to re
ceive money Bubject to withdrawal on demand checks.
The immediate benefits and advantages which will flow
from the incorporation of this Loan & Mortgage Company
are, among others, the following :
THE OHKONIOLE.
F ucst. —It ><nabk» t he fan n er and other borrow er o f m oney
„ a i :. nn property, r> at estate, to obtain it easily and at a low
eat, .,f interest, and upon term s not onerous, ami permits
him to piv off the loan w hen he is ready, or leave it to re
main until it is (a id oft by the small sum w hich he e o ir
tribut< s every year to the am ortization or sinking fuud.
S r - , « » . -The im m ediate effect o f introducing a system
which facilitates the farmer and laborer in obtaining m oney
easily, and at low rates o f interest, w ill be to enhance the
value o f all farm lauds, by w ithdraw ing from the m arket
such farms is are now subject to foreclosure for inability to
meet the principal, and m aking the borrow ing upon farms
and real estate as practicable and easy as the borrow ing o f
money upon negotiable securities or other personal property.
T hird .— It w ill enable the farm er or producer o f unperishabl> products to borrow money upon them at a low rate o f
interest, until such tim e as he is ready to sell them. There
is no doubt that each year the farm er is su bjected to the
caprices and speculations o f a large class o f operators in
cereals and other crops, w ho take advantage o f his known
condition to w rest iris products from him at rates w hich do
not always represent the actual and inherent value o f the
same.
Fourth .— By the establishm ent o f this com pany w ith the
powers w hich are sought to be obtained fo r it, a large fund
w ill be added to the circu latin g m edium o f this country.
Fifth,—It w ill confer upon those sections which now are
suffering from the lack of banking facilities the same use
of money as is now enjoyed by the most favored communi
ties.
Six t h .— It w ill have the effect o f equalizing for borrow
ing purposes the value o f property in all sections o f the
country, and enable the ow ner o f land in Tennessee or A r
kansas o f a fixed and certain value and incom e to borrow
the same am ount o f m oney thereon at the same rate o f in
terest he could on property o f equal value in other States.
S eventh .—A s a consequence o f the establishment o f a low
rate of interest by this Com pany, a large am ount o f m oney
w hich ts now reserved for high rates of interest w ill be
forced into the market and add to the facility o f borrowers
o f money elsewhere.
~ F.mimi.- -The establishm ent o f this system in this coun
try will necessarily have an effect upon the habits and
business methods o f the farmers by m aking them prudent
and econom ic in the m anagem ent o f their farms to conform
to the conditions and regulations o f the Company relating to
loans both before and after they are made ; and by inter
esting him as a stockholder, or bondholder or borrower o f
the Company, w ill render him more conservative in his poli
tic,, and 1,-ss liable to the wiles and deceptions of dema
gogic politicians. It w ill also have the effect o f rem oving
much o f the sectional spirit and jealousy w hich from tim e to
time crop out in public discussion.
A ccording to the conditions and lim itations w hich are
made in the Charter o f the Com pany, it is quite improbable
that tin- latter can suffer any losses beyond those w hich are
entailed upon any bank conducted upon the best-known
hanking principles; in fact, this com pany, as a study o f the
su bject will reveal, is less exposed to losses than those w hich
accrue to ordinary banking. It can never be exposed! to
*"runs" or to the influences o f temporary panics or depres
sions o f securities. It w ill have no obligations except to
pay tin* interest upon its outstanding bonds, w hich are
always am ply secured by its natural and legitim ate incom e.
And even tf one-third o f the persons w ho borrow m oney
from th<* com pany should in any year fail in the paym ent of
their interest tan event quite 'improbable) the Company
would '-.till He able to take care o f its obligations. For illus
tration, assuming that it bad bonds' outstanding to
the amount o f $100,000,000. its requirements for interest
would be $3,050,000 a year.
It should receive from its
borrowers interest and charges and sinking fund at the rate
o f '■ 50. w hich would amount to $5,500,000 a year, leaving
the difference between its receipts and interest as follow s:
Amount of annual interest received by the
Company
..............................................................$5,500,000 00
Amount nf interest to he paid by the C om pan y.. 3,650,000 00
le a v in g balance o f ............................. ................
$1,850,000 00
I h‘'r; for‘'- if one-third o f the borrowers, viz: to the amount
r., $33,883,338
-lionld fail in any year to pay their inter, the Company would have received from the other tivofbtrd* of its borrowers more than sufficient to m eet the
whole mter*-.-t: Iwsdfb'.s the Company has a cash capital of
Sl'ri.tyKi.ijts.t, the incom e from w hich, assuming that it
ost ordina'rv banks,
” • 0 pet annum, or $6,000,000 yearly at least. Moreor.;r w U rn- upon farm properties or real estate can be
™ u- '> *he. Company except after investigation o f the most
[Vou LXINL
searching character, not only of the land and its net income,
but of the character o f the borrower; which examinations
are to be conducted by sworn appraisers, whose reports will
be confirmed by certain local authorities and contradictory
experts. The sole use that the Company can make of the
money paid into its treasury for principal, interest and
charges by its borrowers is to pay its expenses, interest
upon its bonds, and dividends to the Stockholders, and to
redeem its bonds with any surplus in the Sinking Fund.
It is the purpose of this Company every year, when the
net receipts from the loans in a n y series exceed the interest
and charges on the bonds of that series, to use the balance
which constitutes the sinking fund in paying or redeeming
the bonds— which are called in by allotments and redeemed
at par. To illustrate : the different series of bonds are to be
issued to represent the different times of maturity o f the
loans ; for example series “ A ” of the bonds of the Company
would represent 15 year loans.
Series “ B ” ........................................ 25 year loans.
Series “ C ” ......................... .............. 50 year loans.
Series “ D ” .......... ...................... ...7 5 year loans.
There no doubt will be objections raised to the incorpora
tion of this Company, but I feel assured, however, that they
can be classified into two kinds :
F ir st . — From those having selfish motives in the un
founded belief that this Company will in some w ay inter
fere with their business ; and,
S econd .— from those persons who do not sufficiently and
seriously study the plan.
This Loan & Mortgage Company does not propose to ad
vance cash directly to the borrower when it makes a loan
upon property, but at its option to issue to him its bonds at par
for a sum equal to the amount o f the loan. The borrower
him self disposes of his bonds on the market and realizes
from them the current market price, and if there is a pre
mium upon them , as there is in France on all bonds issued
by the Credit Foncier, the borrower is benefited by it.
It will perhaps be said that in the out-start the credit of
this Company will not be sufficiently established to enable
the farmer to sell easily his bonds at par, and that
there will be but a limited market in which they
can be traded.
This m ay be admitted to be true
for the first year or so, and until the public fully ap
preciates the strength; stability and .security of the
business of the Company; but inasmuch as the Company is
authorized to buy its own bonds it can support them in the
market at par until the public begins to appreciate their
value, when there will no longer be any necessity for the use
of the capital of the company in that- direction. One reason
for m aking the capital large is to enable the Company at all
times to protect its credit, and if the success of the Credit
Foncier of France, Austria and other countries, where these
institutions exist, is realized in the present instance, the
bonds of the Company bearing 3'65:« interest will soon com
mand a substantial premium; at any rate, the Company will
at all times be powerful enough to support its credit. More
over by the Government exercising the power of manage
ment and supervision which is conferred upon it by the
Charter the confidence of the people ought to be bestowed
upon the Company from the commencement of its opera
tions, and its bonds shall then speedily sell at par.
The power of the Congress of the United States to estab
lish a corporation of the character involved in the above
general plan has been fully considered, and irrespective of
other clauses of the Constitution it m ay safely rest upon the
decision in McCulloch vs. State of Maryland, where Chief
Justice Marshall, in 1819, fully examined the whole subject
and sa id ;
“ The subject is the execution of those great powers on
which the welfare of a nation essentially depends. It- must
have been the intention of those who gave these powers to
insure, as far as human prudence could insure, their bene
ficial execution. This could not be done by confining the
choice of means to such narrow limits as not to leave it in
the power of Congress to adopt any which m ight be appropriate and which were conducive to the end. This provision
is made in a Constitution intended to endure for ages to
come, and consequently to be adopted to the various crises
of human affairs. To have prescribed the means by which
Government should in all future tim e execute its powers
would have been to change entirely the character of the in
strument and give it the properties of a legal code. It
would have been an unwise attempt to provide by im m ut
able rules for exigencies which, if foreseen at all, must have
been seen dimly, and which can be best provided for as
they occur.”
By n a tu re the farming interest- ought to be the most con
servative in every country ; in ours it is at times the most
radical. This cannot be without some ju st cause of discon
tent. To seek a tru e remedy and apply it by right, methods
is a work of genuine patriotism.
The farmers have now the feeling that they are cut off not
m e r e l y from a participation in the opportunities enjoyed by
their more favored fellow-citizens, but also from their sym
the bat
pathies. Convince them tfiat this is error and
tle will be gained, and a m ovem ent in their favor will be
incalculably more efficacious if it originates outside of party
lines and partisan discussion.
In that spirit I present these general views to the public.
JOHN R. DOS PASSOS.
N e w Y o r k , May 11, 1897.
halt
Ma t 15, 1897.]
935
THE CHRONICLE.
D E B T S T A T E M E N T A P R I L 30, 1897.
The following statement of the public debt of the
United States on April 30, 1897, is made up from
official figures issued on that day. Lower down we
give an interesting eshibit of the boads issued in aid
of the Pacific Riilroads, and the Treasury cash hold
ings, all of the same date.
ffiov&tnvffi(fiamm6Xtin\%UQXlsU%zvc s
Lo n d o n , S a t u r d a y ,
[From our ow n correspondent.]
May 1, 1897,
The Turkish victories at first gave hope all over Europe
that the Eastern Question would be quickly closed.
Now it is feared that the Turks will be so elated by the
utter rout of the Greeks that they will refuse to listen to the
Powers in their demands for reforms. Should the Turkish
I N T E R E S T -B E A R IN G D E B T A P R I L SO. 1897.
Government become very confident, or should Mohammedan
A m ou n t
■-----------Am ount o u tsta n iin g .----------I n te r e s t
feeling assert itself aggressively, nobody knows what might
issued.
Registered.
Coupon.
Total.
Title o f L oa n —
payable.
*
*
i
$
be the consequence, and therefore at present there is even
Fund, loan, 1891, ) q __v
250,000,000 25,304,500
................
25,364,60"
C on tinued at 2 p.c. {
more apprehension than there was when the actual fighting
740,90 ,200 490,444,100 09,195,750 559.039,^60
4s, F u n ded loan, 1907. .O.— J.
40,012,750
.........................................
45.280
4s, R e fu n d ’g certific's.Q .— J.
was taking place.
IOOj KJO.oOO 60.179,850
39.0*0.150 100,000,000
5s, Loan o f 1904 ....... Q — F.
162.315.400 104,330,750
57,984.650 102.315.400
The visit of the Austrian Emperor to St. Petersburg doe
4s, L oa n o f 1925...........Q.— F.
T ota l, ex clu d in g Pac.
not allay apprehension. People remember that 20 years ago
R R B on d s............................ 1,293,229.350 080.319,200 107,000.550 817,305.030
there was a similar meeting of emperors, and that the war
N o t e - T h e den om in ation s o f bon d s are as f o ll o w s . T w o per ce n ts (reg istered
o n ly ), *50, *100, *500, *1,000, *5,000, *10,000, *20.000, *50,»M0; Is o f 1*07, re g is
tered, *50. *100. *500, *L0D0, *5,00 >, *10,000. *20.0 <0, *50.o00, co u p o n , *50, *100. between Russia and Turkey followed, with the occupation
*600, |100“ ; 4s, refu n d in g cert id cates, *10; 5s o f 1904, registered, *50. *100.
Of course
*1,000, *10,000, cou p on , |5u, *L0). *1. >><»; 4s o f L935. re giste re d , *50. *100, |5o0, of Bosnia and the Herzegovina by the Austrians.
*1,000. *5.00), *10,000. cou p o n , *50, *100, *500, *L,000.
there is this difference now, that France was weak then
D E B T ON W H IC H IN T E R E S T H A 3 C E A S E D SIN CE M A T U R I T Y .
and is stong at present, and that may exercise a very whole
M ch. 31.
A p ril 30.
some influence. But the fact that the German Emperor
F u n d ed L oa n o f 1891, m atured S eptem ber 2,1 8 9 1 .. *152,350 00
*1 2,3>0 0»
1,20 i ,46g 20 visited Vienna immediately before the Austrian Emperor
O ld d e b t m atured p n o r and subsequ en t t o Jan . 1, ’01.1,203.410 20
D e b t o n w h ich in terest has c e a s e d .......................... *1,155,700 20
*1,353,830 26 started for St. Petersburg is not considered altogether re
D E B T B E A R IN G NO IN T E R E S T .
assuring.
U n ited States n otes................................................................................................ *340,681,010 OC
Moreover, our relations with the Transvaal seem to be
Old dem and n otes....................................................................
54.347 5(
N ational Bank notes—R e d em p tion a c c o u n t........................................
23.991,184 50 growing worse. Two Blue Books have been published within
F raction al cu rren cy ....... .................................................... *L5,205,i76 14
L ess am ou n t estim ated as lost o r d e s tr o y e d .............. 8,375,934 00
little more than a week, in which it is very clearly pointed
----------------------6,889,241 Is
out by Mr. Chamberlain that the Transvaal Government has
A g greg a te o f d e b t bearing no in te re s t............................................... *377,016,789 14
infringed the London Convention in a great number o f in.
R E C A P IT U L A T IO N
stances, as, for example, not complying with that article of
A p ril 30.
Mch. 3L
Increase or
the Convention which requires that treaties or conventions
1897.
1897.
Decrease.
Classification o f Debt
*
*
*
entered into by the Transvaal shall immediately be sub
In terest-b ea rin g d e b t......... 847.305,030 00
847,364.950 00
Inc.80 00
D ebt, in terest cea s ed ...........
1,353,830 26
l,8i6.760 26
Dec.1.930 no
mitted for approval to the British Government; and still
D ebt bearing n o in terest... 377,615,789 14
377.287.096 04
Inc..i28,092 50
more by subjecting foreigners in the Transvaal to vexatious
T otal gross d e b t ............ 1,220.334.649 40 1,226.007,806 90
In c. 326,842 60
ash balan ce in T rea su ry .. 228.090.617 02
222.045,606 10
In c. 6.044.910 83 and humiliating regulations.
The London Convention pro
T ota l net d e b t............ . . . 998,244,132 38 1,003.962,200 71
D ec.5,718,068 33 vides that foreigners may enter the Transvaal, reside
Tbe foregoing figures show a gross debt on April 30 there, travel and do business freely and without interfer
1897 (interest-bearing and non interest-bearing) o f $1,228,- ence so long as they obey the law. The recent legislation
334,649 40 and a net debt (gross debt less net cash in the compels them to take out licenses, to register themselves,
and so on; and, furthermore, empowers the Government to
Treasury) of $998,244,132 38.
Pacific Railroad bonds are never included in the official expel them at its pleasure. Above all, the application to
total of the Government debt. The status of these obligations white men of regulations that were hitherto only applied to
to-day is as below. Methods o f book-keeping make the o f natives are considered especially humiliating. The Trans
ficial record unintelligible to most readers, and hence we vaal Government insists that it has a perfect right to do all
have brought together in our compilation the leading facts this. The Uitlanders are exasperated, and in consequence
we seem to be drifting into an impossible position. A large
relating to the subject.
naval force is assembled in Delagoa Bay and the garrisons
BO N DS ISSU E D IN A ID O F P A C IF IC R A IL R O A D S .
are being reinforced both in Cape Colony and in Natal, es
<— Bonds issued and— . -— Bonds paUl, ><r date o f m a tu rity.—
pecially in artillery.
accum ulated in f.
A lready
D ue Jan.
D ue ian
N am e
P rin cip a l.
In terest.
paid.
1, 1898.
1.1899
As a matter of course the Stock Exchange and the Conti
o f R ailw ay.
*
*
I
f
*
Central P a c i f ic ....25,885,120 35,488.627
6,074.000
10.614.120
9,197,00c
nental bourses are, as a consequence o f all this, much de
K ansas P a c ific .... 6,303.000 6,587,«29
4,880,000
1.423.000
............
U nion P acific.........27.236,512 30,520.049
8.100,000
15,019.512
3,167,000
pressed. The greatest fall this week lias been in South A f
Cent. Br. U. P ....... 1,600.000 2,158.429
1.280.000
320,000
............
W estern P a c ific ... 1,970,560
3,255.036
320,000
...........
1,650.561
rican mining securities. They have been declining almost
S iou x City A P a c .. 1,628.320
2,525,026
.............
1,628.320
............
without interruption for six or seven months, and it was
T o t a l..................64,623,512 80.536,046
20.714.000
29.004.952
14.004,560
thought that they were as low as they well could go, but
The cash holdings of the Government as the items stood
this week there is a further drop, and it is quite possible
April 30 we take from the Treasury statement o f that
that they may go lower still. The state of the South African
date. The net cash balance given below is the same as de
market lias depressed all other mining departments. In the In
ducted above in reaching the net debt.
ter-bourse market there is practically nothing doing; indeed,
C A S H IN T H E T R E A S U R Y .
there is very little done in it in London in the best of times,
G o ld —C o i n .......................................................................... *157.976,832 16
but there is exceptionally little doing at present; and even in
B a r s ......................................................................... 32.'86,056 65-*100.762,888 81
Stive*—D ollars.................................................................. 395 342.193 00
the Argentine market there is not much activity, although
Subsidiary c o m .............................................................
10tl«3.,rt6 52
Bars . . . ............................................................................ 100.090.149 7 8 - 518,406,109 30 some of the Government bonds, especially o f the funding
P aper—U nited States n o te s ........................................ P8.942.88" (»o
Treasury n otes o f 1890............................................... 24.412,653 00
and the 1886 loans, are being bought pretty freely.
G old c ertifica tes...........................................................
1,517,6^0 00
The American market is quite neglected. The general
Sliver certifica tes.........................................................
13,777.665 00
C ertificates o f d ep osit ( A c t Jun e 8, 1872)..........
2,035,000 00
N ational bank n o te s ....................................................
8.070.050 1 6 - 149.391,838 16 impression here is that the discussion o f the tariff bill in
O ther—Bonds, Interest and cou p on s paid, awalt>
the Senate will be very protracted, that in consequence
ing reim bu rsem en t......................................................
111,676 68
J .in o r coin and fra ction al c u r r e n c y ........................
1.273 777 09
trade will be in an undecided state, and that the sound
D eposits In n at’l bank depositaries—g e n ’l a c c t,..
12,800,800 10
D isbursing officers’ b a la n ce s .......................................
3.900,574 98
18.005,818 75
money Democrats may be so disappointed by the action of
A g greg ate ........................................... .....................
*876,746,655 02 the majority that the silverites may be encouraged to renew
D E M A N D L IA B IL IT IE S .
their agitation actively.
G old c e r tific a te s.............................................................. *38,930,689 00
There is a tendency this week towards an advance in the
S ilver certificates ......................................................
377.631,504 00
C ertificates o f d ep osit a c t Ju n e 8, 1872..................
71.040,000 00
money market, ohiefly because of the strong continued de
T rea su ry n otes o f 18440.................................................. U6.6Prf.280
00 I6o5.107.473 00
F u n d fo r re lem p. o f u n cnrrent n a t’lbank n o te s
7,9i6,8rf7 30
mand for gold on the part of Japan and Austria-Hungary.
O utstan din g checks and d r a ft s ...............................
4,008.004 82
D isbursing officers' bala n ces...................................
25 012 004 27
The Japanese demand is on account of the decision to adopt
A g en cy a ccou n ts, A c ............................................... . ..
0.010.790 61 43.548,665 00
the gold standard, but it has caused a good deal o f surprise
re*eTv ? ................. ..................*100.000,000 00
N et cash ba la n ce ............................... 123,090,517 02................................ 228,090,617 02
that the demand is so large, and has continued so long.
A g g r e g a te .................................................................................................. *876.746,655 02
N et cash balan ce In th e T reasury M arch 31, 1897.............................. 222.045,606 19 The general impression was that Japan in carrying out its
m m cash balan ce in th e T reasury A p ril 30.1897 ............................... 2*8,09u,6l7 02 naval programme and in extending its railways at home,
I norease during th e m o n t h ........... ....................................... .............. *6.044,910 88
and constructing public works in Formosa, would have to
W
i a
J
*
-V y
The quotations for bullion are reported as follow s:
»i« u.l pro ,-lh-sllv tin* whole o f t lid ChincHO indemnity in
Apparently, h ow ever, it i>>
E u S v q * * 311 t t . • t *:.**.• i
* i| K N »rti»g si larger proportion than was anticipated to the
prvciwisig «f gold
A « * in n < Hungary has U.-.*n preparing for yeans for tlie ro
o f specie payment*. It bad intended .some time
*E%> to b m * » loan for com pletin g its measures, but 4i<l not
... r the time favorable. Instead it sold Treasury bills,
w h >h have been placed to a considerable extent in London,
It ^ thus able to take tin metal from London. It is not
likely t , resume -q>* eie paym ents, however, i f the political
hut iron does not clear.
Eus- i is this week raising a railway loan in Berlin and
Amsterdam, and it is expected that the larger part will be
taken in gold. Lastly, the gold shipments from New York
this *,.-<■* k are expected to go to Vienna, while the Paris Exohange upon Loudon is practically at the point where gold
BWn
taken. With the exception of Japan the real expla
nation of these movements is that every country on the
. . . .
11 u> be prepared in the present politi
cal condition of things for any contingency that may
h..p;*-n. It is quite possible then that we may see a rapid
rise in rates here in London if the crisis in Southeastern
Europe continues.
The silver market Is weak and the India Council is not
successfully disposing of its drafts. It offered for tender on
Wednesday :t» lacs and disposed of less than 17}£ lacs,
barely half the amount offered, the average price being Is,
Si. per rupee. Later in the day it sold another iac at the same
price. The Bank of Bombay on Thursday reduced its rate
of discount from lb to 0 per centFor a coMsider«bk* time, past various disquieting rumors
the Consolidated Gold
F l - t . G o f S m i t h A fr ic a , o f
,
[Von, LXiV.
I HE CHK0N1CLE.
>»&«
..
I,
K* - " 'a . lu .in .ig - r s .
U
Bar gold, lin e— at
i»r golA pnrting.a*.
-ipiUlUh, o ld ....... o*.
N ew.
........... o*.
1 . 6 . gold co in ...o x .
'lerin 'n (told coin.o?,
fren ch gold eoiu.oz.
«
77
73
76
76
76
76
70
d.
11%
0
0%
1*9
5%
3%
3%
»,
77
78
76
70
76
70
76
d. 11%
ON
0%
1%
5%
3%
3%
,
, ,
le d
April £0.
April 23.
d.
28%
281 S i 8
28%
28u8
SO>a
27%
April 16
April 0.
Bank Open Bank j Open Bank Open Bank Open
Hate Market Rats. j Market Mate. Market Bale. Market
2
2
2
i%
m
a
xu
m
Paris... -........
S
3
m
2k
8%
Uerlta„.........
3 j m
3
s
2%
a*
Bamburg......
a ! m
m
SH
8
3
g i m
2k
rramkfort......
2W
m
3
3%
2k
S
;
2%
Amsterdam.... 3
f?i
3
2
8
2
2
3 f 3
3
Brussels.......
4
4
s%
4
4
3«
Vienna..... ..
m
SK
0
0
5K
3t. Petersburg. 6
0
6%
£K
till
5
4
4
Madrid..... .
5
i
5
5
4
J
4
4
4
4
^opershasren...
4
V l *
The follow in g shows the im ports o f cereal produce m to
the U nited K in gdom during the first th irty -fou r weeks o f
the season com pared w ith previous season s:
IMPOSTS,
1894-5.
1893-4.
1896-7.
1895-6.
I m portsof wheat,owt. 45,156,030 42,914,770 44,739.966 38,918,882
B arley......................... .16,415,870 10.61 ,12 0 IS .330.244 2 .011.3*4
8,985.527
8,389,353
O a t s ..............................11,209,410
8,519,180
reaa ............................. 2,283,515 1,795,320
1,629.. 79
1,738.236
2,893
342
3,574.877
Beans........................... 1,900,970
2,281,70 2
1ndlan c orn ................. 40,990,980 30 ,225,370 17,1 5.611 21.220,040
(‘l o u r ............................14,850,490
14.208,520 13,001,090 12.437,318
Supplies available for consum ption (exclu sive o f stocks on
. September 1 ):
1898.7t
J895.6
inn4.n
igoa-t,
i s o n e Of t h e ; W h e a t i m p o r t e d . o w t . 4 5 . 1 5 0 , 0 3 0
t h a t t h e e n m n a n v •im ports o f floa*.......14,856,490
4 2 .9 1 4 ,7 7 0
4 4 .7 3 9 .9 6 8
14,208,520 18,004.090
T ota l...................... 77,620,918 67,920,710
1896-7.
1895-6.
A ver.price wheat, week.26s, 61.
254. 64.
Average price, sea son ..2 9 s. 04. 253. 04.
S 8 . 3 1 8 .8 8 2
12.437,348
* » to s o f home-grown.17.008,398 10,797,42015. ■04,934
16.129.2S1
72,819,010 67.033,431
1894-5.
1893-4.
20a. 61.
2 la. 84.
19s. 104.
28a. 0 4 .
The follow in g shows the quantities o f w heat, flour an d
maize afloat to the U nited K in g d o m :
This week.
W heat............. q r s... 1.310,000
....
,
Flour, equal to q r s ... 180,000
V.i.OOO a d d i t i o n a l ( Maine.............. q r s ... 7 1 5.000
.
IT
Interest at
.... t><: re c o lle c te d t h a t t u t c o m p a n y ,
,
d.
Bar stiver, floe,..or. 28%
Bar silver, contain'd
do 3 grs. g o ld .o i 28%
do 4 gre. gold or.. 289,6
do 3 gra. gold, or. 28%
Cake silver . . . or. 30%
M exican d ollars.or 27%
Che Bank rate o f discount and open m arket rates a t the
-h ief Continental cities have been as follow s:
was deeply im plicated in the raid last year. The com pany’s
properties consist mainly of deep leveled mines, the esti
mate iwing that it will be necessary to sink shafts abou,t
3 .o n feet to reach gold, and the gist of the rumors was that
the capital of the company was exhausted, and that in the
present condition of things the sub-companies could not
obtain funds. At last it is officially announced that the
i
%
w h ic h M r. R h o d e s
h , rc n fd lc c t e d
It
Bn, v Eft.
A pril !
2 2 . | London Standard. AW !
Oou>.
London Standard.
Last week.
1,365,000
203,000
655,000
1896.
2,072.000
277,000
393.000
1395,
3.363.000
3U8.0>*0
113.000
£1 shares to enable the sub-companies to continue develop- (
J K u jj i m u r n i i i U f t n l i t t s r k e t n — l * c r U a t i l e .
rm-nt, ami a meeting of the shareholders is announced for
The daily d o s in g quotations for securities, &o, at London
Friday next to authorize the issue.
are reported by cable as follow s fo r the w eek ending May 14:
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of console,
London.
F r i.
Mon.
Wed. Thun.
Tues.
Bat.
A c., compared with the last three years :
im i.
April S8.
M
1885.
Sliver, per ou n ce....... d. 27%
| Console., new , 2 % p,ots. 1127g
F or aeootm t................ 1 1 2 %
27.180,000
2O.238.075
Fr’oh rentes (in Paris) fr. 103*22
7 ,05",912
Atoh. Top. & Santa F e. 1 0 %
,
Do
do
pref. 19%
m ,803,& 77
34,039.806
Oanadlan Paoiflo.
64%
10,800,137
OoT#?na3*<ii
.......
17
2 s ,o i§ .m
18 080,858
O th er w ea H tl** . . . . . . . . . . . . . .
ML 1 4 1 3 7 ?
2 1,03",074
75
27,507,590
38,118,888
28.235,585
* * p t M * M and 0 4 n . ...
Denv. & Bio Or., p ro f.. 37%
3 1 ,4 8 4 8 1 3
37,030.271
47,022.403
31.940,120
Erie, o oram on ___
12 %
65 15-10
0 » r .f ® » « r r ® i » l l* h l l lt ! * » , .p . a. 31 1.VX0
1 st p r e fe r r e d ...
03 5-16
28%
MH
94%
Illinois C en tra l...
2
2
# « t nl» .......... . .p»f coat.
2
» «
166%
Lake S h o re ...........
i l l i s la
Odtum.1, CK par o » n t . . . .
m 8 *ifl
105 5 -1 0
ICO 3-16
Louisville & N ashville. 45*8
28144.
3 1 1 -1 0 1 .
*30 3*104,
»u»» ...... ................... .
M kd.
70%
M exican Central, 4s
. u s m o o o 144*080.000 163,812,000 147,»'38,000
CttMtMrdBovM n w s i . «
Mo, Kan. & T ex., oom ,. 1 0 %
* M *r X
N. Y. Cent’ l A Hudson. 10 2 %
N. Y . Ontario & 'West'll 13t&
a v e been as follows :
N orfolk & W est'll, pref. 2 2 %
37%
Interest
aMmoed
O pt* i to r k l t B a n j.
P enn sylvania.............. . 54%
4
fo r deposits by
Phlla. & Bead., per sh.
9%
flan k t m .•.
T rod , m ill.
B
7%
DUc'l B 'e i
P referred ....
26%
Joint
1
Onion Paoiflo.
5=8
Three j Fsmr
Prill r
s i*
Three
At 7 t o l.
S ix
Stock
i
12 %
M m m \ Months M onths
M onths
«.
April 20.
£
S 0 J « i,9 0 5
14.130,707
48,538,004
13.260,7 8S
Months
Am. t a
*
9
1 1 18
*• 1* m% ISM4H,
w t» m
1 &-10
m JM
*
*
!:-!*•.A-114
Apr*
prll 39:
t%
♦
1%
1H
IH
>%
i
»*»m
4 41 M«»K
Map l.
X
1894
ifrti/2 .
£
25,504,535
7,011,448
29,522.004
9,457,300
Monl he Banks. Call, D ays.
H p a iK W f«S
>k<* m »% -* !»(, i% «»a
*14 I V J I H
1%
!« < « »
*H
»w
1% lf| # 2
! I 3.P - 1%.
m
1
1
t
1
1
%
H
H
IH
Ik
1
l
l
t 1)M1 5.46,
Fix!-y & Abell write as follows under date of
celvt.il 4300,0*K» in wiverclim*, of which
(mm At*
and x 150,000 from South Africa;
Urns If#*w wlUiii
In [•nr**, chiefly for Japan, fn addition
fes tin
lfȴ
there has also i., »>n extensive buying for
SS4
fr*i iijirgr o.i;,mp|.*i ;•**-1made from New York
AtTtTtd* r Bonstii A M , je PH.Otoh River Piato, £11,000; West Ttj,lies,
*m tm**i K i i
M74A •■•I. Australia. *.:i88,000: total, ASli,bob.
Bmmm$t m as •*.>. Japan, 1411,000: total, *115,000.
Miitw
i %m bmn 9° '** o -'-l for India, and with large sales
tnm Hfmm
1 tte pries ’ »M fallen to 28*4.1 , at which the market
Tho taat; <•5 prl* en i« tie, ,7. Arrivals: New York,
: l ip»1
J 29.009 total, vl49,000. Shipment*: Bom
*45,000: total, 8249,000.
it
have Isf ii no salve of these coin.
1 2 18
28%
94%
167
45%
70%
10 %
10 2 %
13%
22%
37%
54%
9%
8%
27
5%
12 %
2 ~Hl,
113%
1137
103 37
10 %
20%
55%
17%
76%
37%
12*4
28%
95
167
46%
70%
11*4
10 2 %
14
23%
38
54%
9%
8*4
27%
6%
13%
27%
113%
113*i.
11*3*37
10 %
2***4
55%
17*4
76%
39%
12 %
30
95
167%
46%
70%
11*4
1 0 *2 %
14%
25%
37%
54%
9%
8*4
2712
6%
13
28 Ta
27%
113% 113*4
13%
11308
103 40 103-32
1«*78
2 ' *2
56%
17 tg
75%
39%
12 %
30%
95
168
46%
70%
Ilk
10 2 %
14%
26%
38 k
53%
9%
8*4
27 *e
7%
13*4
10%
20
55%
16%
74%
38%
12*4
29*4
95
167
44%
70 %
11 %
10 1%
14%
27%
37%
53%
9%
8%
20%
6%
13%
<ggmmeyctalarafl3ljittgceUattjegttg
b o n d s H e l d b y N a t i o n a l B a n k s .— The follow in g interest
ing statement, furnished by the Comptroller of the Currency,
shows the amount o f each class o f bonds held against national
bank circulation and to secure public moneys in national bank
depositaries on A pril 30 :
h
A140**000
2 7 '* ,o
113%
113%
10337
10 %
19%
54%
37*8
75%
37%
U. 8. B ondi Held A pril 30, 1897, to Secure—
tlttcrrp iw n of Bondi.
Currency 6 s, Pac. R R ...
5 p ercen ts, 1 8 9 4 ............
4 per et«., funded 19 07..
4 per oents, 1895............
2 per ots., funded 1891.-.
Total..
Public Deposits
in Banks.
*375,000
535,000
11,970,000
2.400.000
1.033.000
§16,313,000
Bunk
Oiraulution.
$8,573,000
15,181,350
150,978,750
35,397,550
22,318,050
Total Held.
38,948,000
10,016,350
162,948,750
37,797,550
23,351,650
$232,749,300 $249X 62,300
THE CHRONICLE.
Ma t 15, 1897.]
C h a n g e s in L e g a l Te n d e r s a n d N a t io n a l B a n k N o tes t o
M a t 1. —The Comptroller of the Currency has furnished
ua the following, showing the amounts of national bank
notes April 1, together with the amounts outstanding
May 1, and the increase or decrease during the month j
also the changes in legal tenders held for the redemption of
bank notes up to May 1.
N a t io n a l B a n k V otes—
Amount outstanding April 1 ,1 8 9 7
Amount issued during April.............
Amount retired during April............
$371,007
1,277,657
$233,708,894
906,650
$232,802,214
Amount outstanding May 1, 1897*
937
EXPORTS AND IMPORTS OF SPECIE AT N EW YO RK .
G e r m a n y .....................
W e s t I n d i e s ...............
$1,112,458
1,500,000
1,091
$979,660
5,671,784
3,000,000
462,792
7,700
Amount on deposit to redeem national bank
notes April 1 ,1 8 9 7 ..............
Amount deposited during April.............. ...
Ain't reissued and banknotes retired in Apr.
$1,370,160
1,277,657
Amount on deposit to redeem national
bank notes May 1 ,1 8 9 7 *................. —
92,503
$24,033,695
•Cireulatlon of National Gold Banks, not included in above, $85,740.
$112,606
127,136
$2,621,249 $10,241,372
5,916,207 23,440,759
900,914 34,093,139
$91,541
21,045
1,653,947
$1,428,886
18,066,462
17,516,208
E x p o rts.
W eek .
$23,941,192
G r e a t B r i t a i n ..........
G e r m a n y .....................
W e s t I n d i e s .............
M e x i c o ......................
S o u t h A m e r i o a .........
All o t h e r c o u n t r ie s .
S in c e J a n . l . -
10
923,123
44,560
191,049
157,588
S o u t h A m e r i o a .........
All o t h e r c o u n t r ie s .
T o t a l 1897.........
T o t a l 1896.........
T o t a l 1895........
W e ek .
$59,480
10,457
14,449
7,155
Silver.
Legal Tender Notes—
S in c e Jan. 1.
Wee/c.
G r e a t B r i t a i n .........
Im p o r ts .
S in c e J a n . 1.
W e ek .
$875,600 $15,997,410
431,000
5,750
62,487
500
500
13,835
S i n c e J a n .l.
........
$2,022-
$240
36,226
19,757
3,644
1 ,00 0 '
68,282
437 ,3 46
288,377
11,688
According to the above the amount o f legal tenders on
T o t a l 1897........
$59,867
$876,100 $16,515,982
$80 8 ,71 5
deposit May 1 with the Treasurer of the United States to
967,095 18,457,485
37,327
T o t a l 1896........
872,689
15,895
T o t a l 1895........
686,617 11,457,493
481 ,7 96
redeem national bank notes was $24,033,695. The portion of
Of the above imports for the week in 1897 $68,919 were
this deposit made (1) by banks becoming insolvent, (3) by
banks going into voluntary liquidation, and (3) by bank" American gold coin and $1,438 American silver coin. Of the
exports during the same time $1,503,791 were American gold
reducing or retiring their circulation, was as follows on the coin.
first of each of the last five months:
Deposits by —
Jan. X.
$
895,497
Insolv’nt bks.
Liquld’g bus. 4.786,795
Bed’o’g unde,
act of 1874. 14.043,782
Total.
F or ?ig n T r a d e o f N e w Y o r k — M o n t h l y S t a t e m e n t . — In
addition to the other tables given in this department, made
$
$
$
$
up from weekly returns, we give the following figures for
935,997 1,026.652 1,184,253 1,129,394
4,789,053 4,691,430 4,825,026 4,852,970 the full months, also issued by our New York Custom House.
The first statement covers the total imports and exports o f
10,116,424 17,526,463 17,931,913 18.051,331 merchandise and the Customs receipts for the ten months
21,821,374 28,234,54523,941,192 24,033,695 of the last two seasons.
Mar. 1.
Feb. i.
19,728,074
Apr. 1.
M ay 1.
* Act of June 20, 1871, and July 12, 1882.
m e r c h a n d is h
C o in a g e b y U n it e d S t a t e s M in t s . —The
following state
ment, kindly furnished us by the Director of the Mint, shows
the coinage at the mines of the United States during the month
of April and for the four months of 1897.
Four Months 1897.
A pril.
Denominations.
Pieces.
192.240
403,440
185.240
k a g i o s . ...............
Half eagle*..............
Value.
Pieces.
jg
3,844,800
4,034,400
926,200
*
l,720,2n9 34,404,180
5.199,680
519,968
926,335
185,267
Value.
610
1,525
780,920
8,805,400
2,426,051 40,531,720
1,400,000
60,000
216,000
510,000
1,400,000
30.C00
54.000
51.000
5,952.250
414,250
1,239,067
1,681,094
5,952,250
207,125
309,767
168,109
Total silver______
2,186,000
1,535,000
9.286,631
6,637,251
One ce n t.................
918,000
2,878,000
45,900
29,780
4,056,713
33,085,971
202,835
130,860
Total m in o r .......
3,796.003
74,680
17,112,681
333,695
Total coinage___
6,762,92 < 10,415,080
Standard dollars,...
Quarter dollars.......
28.855.399 47,501.636
I m p o r t s a n d E x p o r t s f o r t h e W e e k . —The following are
the imports at New York for the week ending for dry goods
May 6 and for the week ending for general merchandise
May 7 ; also totals since the beginning of the first week in
January.
FOREIGN IMPORTS AT NEW YO RK .
For week.
1897.
1896.
1895.
1894.
Dry goons.......
Gen’l mer’dlse
$5,340,371
13,041,648
T o ta l........
Since Jan. 1
Dry goods.......
Gen’l mer’dlse
$18,382,019
$9,745,016
$9,056,168
$9,175,776
$52,477,760
144,533,152
$49,308,664
127,118,293
$57,339,120
126,538.804
$32,592,848
124,873,288
$1,744,529
8,000,487
$2,130,983
6,925,185
$1,263,080
7,912,696
Total 18 weeks $197,010,912 $176,426,957 $183,877,924 $157,466,136
The following is a statement o f the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending May 10 and from January 1 to date :
EXPORTS FROM NEW YORK FOR THE W EEK.
1897.
For the week .
Prev. reported
$8,535,473
128,778,551
1896
$0,265,079
128,466,280
1895.
$4,612,432
116,369,177
1894.
$■’,196,081
125.125,852
Total 18 week* $137,311,024 $134,731,353 $120,981,609 $132,321,933
The imports of dry goods for one week later will be found
In our report of the dry goods trade.
The following table shows the exports and imports of specie
at the port of New York for the week ending May 8 and
since January 1, 1897, and for the corresponding periods in
1896 and 1895:
Month.
Im ports.
1896-97.
S
J u ly ............
38,254,119
A u g u s t....... 32,294,914
Septem ber.. 32.049.399
33,139,440
O ctober .
32,458,174
N ovem ber.
D e ce m b e r.. 38.205,417
Jan uary . .. 34,4.15,110
Febru ary. . 33.974.041
M arch......... 40,878300
A p r il........... 59,039.218
T otal..
M o v e m e n t a t N e w Y o r k . C u s t o m s R e c e ip t s .
a t N ew Yo r k .
E x p orts.
1895-90.
1890- 97.
t
47,012,803
43,938,854
41,097,882
49,975,928
89,580,301
40.320.020
44,795,519
40.981.021
42,235,571
37,918.059
1
30,830.037
28,030,172
80,495,100
35,488,789
32,020.560
35,741,707
33,407,094
30,318,791
31,532.489
31,412,30*
1895-90.
1896-97.
1895-90.
t
1
3
8,259,048 10,034,765
25,813,459
20,485,2 L3 8,450,700 10,299,018
20,573.000
7,021,220
9,750,892
7,103,420
31,775,858
9,299.378
29,723.271
0,640,183
7,703,431
32,101,201
7,235,290
8,819,902
38,801,742
7,705.400 10,424,076
27,877,902
8,359,780 10,077,443
30,003,815 17,579.033
9,320,014
29,929.8 >2 17,711,803
7,584,037
382,20*,937 427.517,958 322,935,701 293,591,099
90.782.103
93,920,156
The imports and exports of gold and silver for the ten
months have been as follows:
G o l d M o v e m e n t a t N ew Y o r k .
Mo n t h .
Im ports.
Exports.
S i l v e r —N e w Y o r k .
Im ports.
E xp orts.
1895-90.
1896-97.
1835-90.
1898-97.
1890-97.
*
J u ly .........
359,947
A u g u s t.......
3,560,080
S e p te m b e r. 80,735,333
O ctober....... 23,133,791
N ovem ber..
4,010,890
D ecem ber
159,837
J a n u a ry .. .
201,329
Fabruary..
286,102
M a r c h .........
600,361
A p ril............
299,034
*
298,097
1,234,107
600,240
1,520.438
180,156
803,808
7,217,055
9,792,490
280,107
700,757
f
8,998.376
60,590
47,806
09,839
293,201
18i,O06
802,281
823,131
607.687
0,507,002
$
2,219,373
16,295,750
16,479,509
1,530,195
13,982,008
14.815,605
10,638,473
1,909,180
364,005
8,272,077
*
1,191,471
391,000
709,095
874,7.18
800,010
85?,6?2
950,934
800,531
845,455
928,194
*
5,063,409
4.890,384
4,898,877
4,507,671
4,391,886
4,501,081
3,421,002
3,782,205
4,233,532
4,450,520
03,419,410
22,533,215
17,375,607 81,448,523
8,409,000
44.207,293
1898-97.
T o ta l...
—The “ Manual of Water-Works” for 1897 has been issued.
As the standard source for reference regarding water-works
and their securities, the appearance of the book will be wel
comed, the interest in the subject matter covered being a
very general one. The b iok dtscribes the water works sys
tems of the United States and Canada, now 3,850 in number,
and gives the water rates charged in 1,350 cities and towns.
In the introduction some recent tendencies in water-works
practice are reviewed, with comments upon the increase in
the number of works during the past six years. A feature of
the book of especial interest at this time is the figures which
it gives showing how the works in each State are divided be
tween public and private ownership. A list of 300 cities and
towns is given, in which the ownership of the waterworks
has changed from private to publio, and there is another list
of reverse changes in 30 cities and towns. “ Engineering
News,” 220 Broadway, publishers; price $3.
—“ Mining in the Pacific Northwest” is the title o f a book
of 200 pages, issued from the office of the “ Post-Intelligencer” ,
Seattle, Wash. It gives a description with maos of each
mining district in Washington and in Southern British Col
umbia; also a digest of the mining laws and other informa
tion oil the subject of mining. Issued in paper Covers; price
50 cents.
—M ssrs. F.trson, Leach & Co. offer sale $120,0)0 oity of
Quincy, Mass., 4s.
THE CHRONICLE.
'.m
M l.
H ron gH t
F rom
« * »«* • !><*»•— f 1' '
[Vol. LXIV.
— T he h o ld e r s o f U n it e d S ta tes T ru st C o m p a n y c e r t ific a t e s
m«.«nt*
nr** pretyttitKl bv tin from th© ilguraB of tu& f o r C h ic a g o & N o r th e rn P a c ific first m o r t g a g e b o n d s are a d
York lV»lu — Bxfihaugt- th e rooalpt* at Western lake v ised b y J . E d w a r d S im m o n s , C h a irm a n o f th e B m d ii o ld e r s’
r>,. r j>>rt;s for the week ending May 8, and since C o m m it t e e , t h a t by th e p r o v is io n s o f th e b o n d h o ld e r s 1 a g r e e
t
s t . _‘ . ,..t...../ it,.*
mrntr.
z w .’m
KU.0SO
93,000
— M essrs, P r ic e , M c C o r m ic k & G o. t m e m b e r s o f th e N e w Y o r k
S t o c k E x c h a n g e , a d v e rtis e in t o -d a y ’s issu e t r a c t io n , g a s ,
w a te r a n d o u t -o f -t o w n in d u s tr ia l s e c u r itie s . T h e ir u n lis te d
d e p a r t m e n t has been p la c e d in c h a r g e o f M r. A . A.. L is m a n ,
w h o w ill d o u b tle ss, w ith c h a r a c t e r is t ic p u sh a n d e n e r g y , m a k e
th is d e p a r t m e n t a fe a tu r e o f th e fir m ’ s ea sin e ss.
— M r. F . J . L is m a n a d v e rtis e s in a n o th e r c o lu m n th a t h e is
p re p a r e d to tra d e in a n u m b e r o f r a ilr o a d b r id g e s e c u r itie s a s
w e ll as a ll o t h e r in a c t iv e r a ilr o a d s e c u r itie s .
Bm
II
til!
ttfc-
Bu*K i $ m B m h M lh
15 350
1,713,471*
133,090
25,800
l3f,*K*0
59,400
05,643
57.2SS4
915,100
1.097
.... .
9.900
15.S3S
m sm
190, )0B
1&W4
u tjm
Ste.sdo
s r s -’ oo,
# ,t ^ f
* » .« :* « t V »
$4
4.200
1.801
5,955
10,800
*.*
2,SS7%306
2.15M 96
1,904,462
3 S«L171
i .r w .m
m % ts$
m ksm 1
. a#td0%i ^ j
tm * # T
UM-4M
IM H 4
m e n t, th e a d o p tio n o f th e p la n o f r e o r g a n iz a tio n r e q u ir e s th e
a ssen t o f 70 p er c e n t o f t h e c e r t ific a t e h o ld e r s . I t is t h e r e fo r e
im p o r ta n t th a t th e v o te o f e v e r y c e r t ific a t e h o ld e r s h o u ld be
r e c o r d e d a t th e m e e tin g t o ta k e p la c e o n t h e 2 0 th o f this
m o n t h . B la n k p r o x ie s fo r use a t s u c h m e e t in g m a y b e o b
ta in e d f r o m th e U n it e d S ta te s T ru s t C o , o r fr o m th e S e c r e
ta r y o f th e C o m m it te e .
H-arley,
l^ U tj
& j6 $ n
i t?m
I07,Odtj
0a*K5«~,
f
XUm54mm City
Im .«a Kftrtn muD frtllowA:
11i»I b im -8 . Sdih*
* i.w
i M js m
|S7.0M|
## |
Wm
.. ..
i
]
W h m t,
'm e t w o * -
Wk%ri’Silb ...•m a m t+ v *
t
i
IS
«
108,256
77,857
57,991
354,128
519,909
190,407
MSCUM9]
I
n e , 8 i S >M l i 124,SHM,»3C W . , 91,773 35,107,750
Mtm lgT 49M 0*t »7 .‘JI9,797 lid,53d.|5d 35,023,451
9,u7% u ■!
dt.97rt,IU3 73,573.634 30,460.400
„
...
4*
i.U<e
ui u uu i » u u
0,881.233
3,874,393
2.332,438
e
week ended May 8.1897, follow :
ItettT ,
Wheats
hmh.
Corn,
hm h.
O af*,
198,709
49.171
11380
97,\1O0
472,562
17V.41A
161,553
40,177
3.894
167.450
0 7 ,4 -6
399^92
3I*'.573
719,074
25.936
74,U*>
ja.H X i
3,000
8I7.20O
i a r..60 «
233.400
55,104
30,311
9.060
38,025
m *.
H « w T o r t s ...... •
®o«tea. .**»*■*»«,
Mos&wwL-......
ij u « 0
2S S j
f.m *
tfjm
iU-cfeacmd . , . - .
If#** Cirltssm**.
1.143
... ..
PortiaadL M « *
* H-r-d-.fi*.
p&tt# on
4-
hm h.
3,207,437
Rvt,
bush.
201.825
two
900
8,005
108,927
,. ...
63.590
38,343
MS..110
334,261
Bariev,
bush.
33I.500
1,250
2,40**,171
3,418.326
333,506
10 L 575
1*371,084
30 *.017
29,0 47
w>t ttuiode grain passing through New Orleans for foreign
©**•* o f Wtna.
Total reoetpts at porta from Jan. 1 to May 8 compare as
follows for four years:
1807,
5 4 0 0 .8 7 2
8 i « h h o f~
r w . . , ............... ..b b .s
8.686.192
W s « < . . . . ........ .b t t t h .
O & ftS .., . . . . . . . .
** 78.016,454
Q fc l* ................... „
"
S0.55U.189
..
8
.9 4 7 ,0 4 1
I M fN r r .. . . . . . . . . .
.,
**
2.133,2* H
crania. . . .
.u M t iit t
1800.
4. J52,-830
1895.
5,365,459
1894.
6,639,955
6.672.665
27,727,817
1 6.001. *106
8 651*880
510,601
8.461,273
10,802.763
11*233.766
1.3*4,310
133.927
6,867*093
22.5rl9.808
11,157 350
1*6*9,244
00,600
58,576,969
32,020,209
42,236,095
I n e e x j.-.r ts f r o m t h e s e v e r a l s e a b o a r d p o rta f o r t h e w e e k
t id in g M ay 8, 1897, a r e s h o w n in t h e a n n e x e d s t a t e m e n t :
When f.
m a te ru ) « »
!*■«* %m% ..
«d*t.is<s.
. -..
....
Horn,
'tU*
iw - V
f4d,seU
e tm
m u
buih.
Bn,
buth.
658.364
91*94*
83,590
Petu,
buah.
13^.899
21,904
,
92.451
10.887
547.342
0 -8.509
131.5*8
gt.000
10.211
22.010
1**11
27.O0O
5,934
1,14*
27,0y0
»*»* » •
17,801
350
457 JU& 5 .007,136
687^907 1,867.445
177,821
199*499
021,160
716.245
215,419
67,065
60,794
4.333
m ,M *
Fbtt*Av&p%si^- % u j m
................ OrtHMUML..
2,415
H « «y r * n K fW * .............
Mc^tsrm’l . . . . . . . . . . . . .
T « te l w it ..,
F lo w ,
bhlt.
859.511
267,732
tPfi.m i
F i/ m
?»!
60,110
2.000
8,200
49,644
Barley,
bush.
817,277
34.285
317,277
T h e d e s tin a t io n o f th e se e x p o r t s 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, 1898, l* a s b e lo w .
City R ailroad Securities—Brokers’ Quotations,
A sk .;
B id .
A tla u . A v e ., B ’k l y n —
C o n . 6 b , g ., 1 9 3 1 ..A & O
I m p t . 5 s , g ., 1 9 3 4 .-J & J
S le e k . S t .« f e F a l.F ,—S tk .
l a t m o r t ., 7 b , 1 9 0 0 .J & J
B r o o k ly n -Rapid T r a n s it .
S ’ w a y <k 7th A v e .—S to c k .
l s t m o r t ., 5 s , 1 9 0 4 . J & l)
2d morfc., 5s, 1 9 1 4 .J & J
B ’ w a y 1 at, 5 b, g u a r. 1924
2d 5 s ,in t* a s r e n t ’ l.lS G S
C o n s o l, 5a, 1 9 4 3 .. .J A D
B r o o k ly n C it y —S t o o k ..,.
O onaoL 5a, 1 9 4 1 .. . J & J
B k ly a .O ro ssfc!' n 5 s .l 9 0 8
B k P n .Q ’ n a C o .A S iL b .la t
B k iyu .C . A N 1wfc’w n —8fck
5 s, 1 9 3 9 .. .. * - ...........
C e n tra l G ross t o w n — Stk.
1st M ,t 8», 1 9 2 2 ...M A N
O en .P k . N. A E . R lv ,—Stk.
C o n s o l, 7s, 1 9 0 2 ... J & D
C o lu m b u s A 9th A v e , 5 s.
O h rlst’p ’ r A lO t li S t .—Stk ,
1 s t m o r t.,1 8 9 8 . . . A * D
B id .
D. D . » . B . A B a t ’ v —S t k . 150
l o t , g o ld , 5 s, 1 9 3 a .J & D 114
104
5103
80
S c r ip — . . . ----------77
§101 103
33
E ig h th A v e n u e —S t o c k . .
30
310
325
S c r ip , Sa, i 9 1 4 . . _ . ____
108
21
42d A G r .S t . F e r .—S to ck 330
340
205
42d S t, M an. A S t .N . A v
195
40
108
1st m o re . 8s, 1 9 1 0 .M A C 1116
5106
112 | 2 d m o r t. ln c o m o 8a . J A J
5107
■I!
118 |L e x . A r e . A P a v . F e r r y 6 b . 116 V 117
5115
108
M e tro p o lita n T r a c t i o n . ..
5104
107
119 Aa 120
N in th A v e n u e —S t o c k . . .
" 170
183
182
e o o n d A v e n u e —s t o c k . . 12 6
1 s t m ort.,5s>19Q9.M «fcN 108
109
113
103
io b ”
D e b e n t u r e or, 1900*J A J 102 10S
105
103
170
S ix t h A v e n u e —S t o c k
178
151
160
T h ir d A v e n n e —S t o c k . . . 150
193%
l e t m o r t., 5 e .1 9 3 7 .J A J 121
5110 112
195
T w e n t y -T h ir d S t .—St*k. 300
100
5115
D e b . 5 b, 1 9 0 S . . . . . . . . . .
164
103
169
U n io n B y —S t o c k . . . . . . .
115
112
l e t 5s, 1 9 4 2 . . . . . . . . . . . . . $104*5,
W e s tch e s te r , lB t,g u „5 a , }99*a
116% 117
155
160
103
101
iifS
•*8 S
66
188
103
103
! Andaoornsd interest,
l i a s S e c u r i t i e s — B r o k e r s ’ Q u o t a t io n s .
G A S C O M P A N IE S .
A sk .
B id ,
B ’ k l y a U n io n Ga b —S tock , 108**i
B o n d s . ...................... ........ 1 1 4 1*
C e n tr a l...... .............................. 195
Oouaum era* (J e r s e y C ity ). 74
100
J e r s e y C it y & H o h o k e n .. 180
M e tro p o lita n —B o n d s ......... 105
M u tu a l (N . Y . _____ . . . . . . 250
N . ir. & E a s t R lv . 1 s t 5s.. 110
95
P r e f e r r e d ,.—. . ...........
58
C o m m o n ...............
102
C o n s o l. 5 s ........ ...........—
S .» S C O M P A N IE b .
Bid.
107
P e o p le s ' ( J e r s e y C i t y ) ___
W illia m s b u r g 1st- 8s
F u lto n M u n ic ip a l 6 s „ . . , .
78 ! E q u i t a b l e . .. . . ..................... .
102
B on d s, 6 b, 1 8 9 9 .. . . . . . .
S t. P a u l . . . ........ ....................
B on d s, 5 a . . . . . . . ----- . . . . . .
254
S tan d ard p r e f ----- - . . . . . .
111
C o m m o n ............................
98
W e s t e r n G as . . .
. . . . . ..
B o n d s, 5 s ____ . . . ______ _
59^2
103
170
102k>
105
217
103
49
74
120
104
63
94
A ik
175
219
105
52
70
124
105 ki
66
95
Auction Sales.—Among other securities the following, uot
regularly dealt In at the Board, were recently sold at au ction ;
By Messrs. R. V. Harnett & C o.:
Shares.
35 M anhattan Real Estate A ssociation.................................................110%
10 Real Estate & A u ction Room, L im ited.............. ............................ 75
By Messrs. Adrian H. Muller & Son :
r - ---------Corn.---------- s
W eek
Since Sept
H ayS.
1, 1890.
bualu
hmh.
S h a r es .
Shares.
76 North River Sire Ins. Co. 122
70 Bank State o f N. Y .. 1 1 2 1 3 - 1 1 3
100 PhcenixNnt, Bant:..........108%
3 l N. Y . Eire Ins. C o............ lOS^a
80*811,646 1,307,513 03,723,100
KtHff49CB
100 Mechanics’ Nat. R a n k ..-183*1 200 Amor, Hist. Teieg. O o----- 25
g m & ____ _
i t,W >
m .t m
8,4 9 4.7 68 1,858.900 05,220,690
! 50 Merchants’ Nat. B a n !:... 110
4 Nat. Bank o f Comm oroe.208ia
787.1 HO
b-. 4 C» A mmtem*.
Id 430
2,4*5
u rn *
i> :m
i73,4H i
50 MeoU’ nles’ &TrM ers'Nat.
10d Standard Oil T r u s t ....... 314H
748,781
806.078
Bit.
o
f
New
Orl.,
$20
ea
.$6
lot
100
T itle Guar’ntee & Tr, Co.271
fcrei. n . A . i n **.
t . Ti i
187,044
H.# 2
314 141
tMh$«st m
1-0.
85,001
195.0PO
3 Gbemlenl Nat. Bank...... 4130
874,322
1M 7
1,014.895
60 A m or.E x.N at. file...171-172%
JJottds,
* f« N
tr tja l
i m s m 4O.«2*30O %M7,KM 131,358,038
35 C onor Island Jockey Co. 60
$ 2 1,0 0 0 Jersey City 7s W ater
831,207
8 j»47 J 9®
1^07,115 68,528,187
25 N. Y. Loan <fc Im p't Oo . 50
Scrip, 1902. A & O ....113*4 & in t
$19,000 N. Y. City 5s, Cent.
T h e visible supply of grain, comprising t h e s t o c k s in osn joo,, Proprietors of tlio
ore had in Salisbury,
P’ k Fund. 1898, Q.-F.101 * int.
g ra n a ry at the pritiidnal points of accutnnlation a t la k e a n d
Conn............................ $525 lot $2,500 N. Y. City os, Orotoli
»erboard ports. May 8, 1897, was as follows:
Water Main, 1906. M&N,
50 42(1 St. MftilUat. & St.
Niels. A v<\ H R ............. 40
113% & int.
ComOut*
Burley,
Rm
5 riitoruat.OceanTelep.Po.l 05
$1,000 N. Y. C ity Consol. 5s.
*l
M
bu$k
tm*h
hmh,
hmh.
*
.......... . i f f .0 0 6
} jreo.OOo
20 W hitney A vo. Horae Ky.
1908-1928, M AN.......i l.Vk & iut.
268,000
103.000
ONzi.,.,,.
8 8 .0 0 0
o f New B a va u___
$10,000 Cass Oo., No, D ak30
22,000
15,000
12 Joint Stock A hsoo. of the
Court H ouse 7s, 1915, J& J ,
t» •
....... ..
|0t!4 #06
57 ,(8 »
235,000
611.000
ioo & int.
Adirondack ExpresaCo. 1(5
m
16
A
dirondack
E
xpress
Co.
16
$480
Atlantic Mutual Ins.
mmn .
7 7'5O.0OC'
4,4
000
903,<KN*
" 57,000
m
*• & • (.....
Co. «W lp 'of 1897................. 107
200 Boston Hart. & Erie RK.$5 lo t
• ta iM
9,000
IIKIiS
’ n,btw* 78 A cadia 0<M»1 Co.,Lim’d.$1001ot $2,0 0 AU.(U. & Pao. RR. Co.
-18 B ’way Fire Ins. Co.......... 100
Cent, iliiv .) 1. gr honds,
.......,, . 4 ,1 7 0^ 1#
18,00#
i , 1 0 2 .0 0 0
2774.000
Y&oob
179 Citizens’ Fire Xus. C o___106
19 01....................................... $7 lot
t tm
.
wmh
Otoe4 «I
tm
Hmr.
Week
M ■%y 8,
MU.
.9int* *kp t.
i . iMm.
m §.
W’Vf k
May h.
Irtish,
Si ft . •*. 8 ’ uf.
1896.
bush.
71*000
................
25.00C
wmMm
-* " A a U .. ............
2*>4.O0O
44,(10:
&l 4,600
- -
. t.
1
..
f.r0 Q*-s
IJW .O O d
94,000
'%-m % %m?
Mwf
16^7#
t*u loo|
4 ^ 0 4,000
* a ob o
411/KiO
’ *Nk&«4 * S 4 r t v « f .
$1
M a i a fa r i l
N lw i M * j 1 1 . M M m & n j m
3f,00c
51,000
5-3 OOO
tfijm
iij& o o
m .t m
1 .6 *t, «!O0
0 0 ,0 0 0
i a. o# 1 .0 0 0
1^*7
Spencer T ra s k & C o .,
1 0 ,0 0 #
W AfW t
,*-* *..
w.
gauhiug uttd gfimmclat.
’ 42.000
s btio
1 0 845,00©
U .722.00#
8 ,1 5 5 ,0 ^
2 ^ 7 1 .0 0 0
'
6.000
t, t.
mom
402.000
34,000
$.109.000
3,105,000
1,&&5,0<K5
145.000
340.000
BANKERS
37
20
&
P IN K S T IIK K T ,
65 State Street, Albany.
I N V E S T M E N T
‘2,00
0*0110*
284.000
2.112.000
240.000
187.000
A lexan - okr si . w h it f , jb
o f f a t
1.689.000
2 .294.0 0
Y O ltlv .
S E C U R I T I E S .
iisiif i.* v JlorrAT.
M
35,001
NEW
& W
h i t e
,
BANKERS,
NO. 1
N A S S A U
S T U IS E T ,
INVESTMENT
-
-
N E W
SECURITIES.
Y O K K
THE CHRONICLE.
Ma y 15, 1897. j
I J a n k m 7 (S a & etl* .
premium ; New Orleans, bank, SI 50 premium; commercial,
25c. premium; Chicago, 60c. per $1,000 premium; St. Louis,
70c.@.$1 00 per $1,000 premium,
D I V I D E N D S .
f
P er
C en t.
Vam e o f C om pany.
R a ilr o a d s (S te a m ).
M e x i c a n N o r t h e r n ( q t ia r .) .............
N o r t h P e n n s y lv a n ia ( q u a r ) .........
S tre e t R a ilw a y s .
T h ir d A v e n u e , N. Y . ( q u a r . ) .........
M is c e lla n e o u s .
A d a m s E x p r e s s ( q u a r . ) ...................
A m e r i c a n E x p r e s s ------. . .........
C o n s o lid a t e d G a s (B i l t l m o r e ) . . .
D ia m o n d M a tc h ( q u a r . ) --------------L a c l e d e J a a L (S t. L o u is ) p r e f .
P a o if lo d a l ................ ............................
W e la b a c b C o m m e r 'l p r e f. ( q u a r )
W h en
P a y a b le .
B o o k s c lo s e d .
( D a y s i n c lu s i v e .)
1
z
June
M ay
2 M a y 22
2 5 M a y 13
to
to
J une 2
M a y 19
2
M ay
2 3 ;.M a y 1 6
to
M ay 28
2
3
2%
2%
3% ‘
1
2
Tune
J u ly
June
June
June
June
June
1 M a y 15 t o
1 Ju n e 6 to
11 — ------ t o
12 J u n e 5 to
15 M ay 3 0 to
l l M a y 18 t o
10 M ay 3 0 to
June 1
J u ly 1
—
—
J u n e l2
J u n e 15
June 1
J u n e 10
* 1 p e r c e n t o f t ills e x t r a o n a o c o u n t o f d e f e r r e d d i v i d e n d s .
W A L L STREET. F R ID A Y . M A Y 1 1 . 1 S 9 T - 5 P . M .
The Money Market and Financial Situation.—As a result
o f diverse influences, business in Wall Street has been gener
ally narrow and featureless this week. The foreign situa
tion has improved under increasing evidence that hostilities
between Turkey and Greece will soon t-rmmate, and the bet
ter feeliog which now prevails at the financial centres abroad
has resulted in higher quotations for British consols, for
French rentes and a noticeable increase in operations for
foreign account at the Stock Exchange.
On the other hand, the slow progress which is being made
with tariff legislation and uncertainty as to results of the
the same, together with new discussion o f the Cuban question in high official circles at Washington, serve to counteract any favorable effects which might follow other and more
encouraging influences.
The Bank of England has again reduced its rate of dis
count, this time to 2 per cent, which denotes the easy condi
tion of the money market in London, and is also evidence
that the political situation abroad is muoh nearer a settle
ment than it has been. It was estimated early in tbe week
that a considerable amount of gold would be exported before
the close, but the total shipments are only $2,800,OOJ, includ
ing $2,250,000 which has been engaged for to morrow.
In the money market there is a somewhat better supplv of
commercial paper but not in sufficient amount to affect
rates, and call money has been offered exceptionally low,
with few takers.
The open market rates for call loans on the Stook Exchange
during the week on stook and bond collaterals have ranged
from 1% to 1% per oent. To-day’s rates onoall were 1% to 1%
per oent. Prime commercial paper is quoted at 3% to 4% per
oent.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £33,131 and the percent
age of reserve to liabilities was 51-40, against 51 '60 last
week ; the disoount rate remains unchanged at 2% per oent.
The. Bank of France shows an increase of 24,650,000 francs
in gold and 1,750,000 francs in silver.
The New York City Clearing-House banks in their statement
of May 8 showed an increase in the reserve held of $6,447,300
and a surplus over the required reserve of 814,095 975, against
$48,917,625 the previous week.
I
1897.
H a y 8.
C a p i t a l ..................... 5 9 ,7 7 2 ,7 0 0
S u r p l u s ................... 7 3 . 9 5 3 ,8 0 0
L o a n s <k d l s o ’ n ts . 5 0 4 ,9 2 0 ,1 0 0
C i r c u l a t i o n ..........
1 4 ,6 7 2 ,3 0 0
N e t d e p o s i t s .........5 7 0 ,3 6 1 ,3 0 0
S p e c i e ....................... 8 7 ,5 7 0 ,7 0 0
L e g a l t e n d e r s ___ 9 9 , 1 1 5 , 6 0 0
D i f f e r e n '8fr> m
P rev. w eek .
D e c . 91 i .6 0 0
D e o . 3 2 9 ,9 0 0
D e o .6 ,5 0 2 ,6 0 0
I n c . 2 4 0 ,9 0 0
D e c . 6 ,6 8 8 ,2 0 0
1896
M a y 9.
1895.
M a y 11 .
$
6 1 ,1 2 2 ,7 0 0 6 2 ,6 2 2 ,7 0 0
7 2 , 8 3 3 ,3 0 0 7 1 ,0 4 6 .8 0 0
4 7 4 ,0 5 6 ,7 0 0 4 8 8 , 9 / 8 , 5 0 0
1 8 .2 3 8 .0 0 0
1 4 ,3 5 0 ,8 0 0
4 9 5 ,0 1 5 ,5 0 0 5 3 7 ,8 3 2 ,8 0 0
5 9 ,4 6 0 ,9 0 0 6 9 .4 4 0 .0 0 0
8 4 ,5 3 6 ,1 0 0 9 6 ,0 8 8 , 3 0 0
d e s e r v e h e ld ........ 1 8 6 ,6 3 6 ,3 0 0 D e c 6 ,4 4 7 ,3 0 0 1 4 3 ,9 9 7 .0 0 0 1 6 5 ,5 2 8 ,3 0 0
L e g a l r e s e r v e ___ 11 4 2 ,5 9 0 ,3 2 5 D e o .1 ,6 2 5 ,6 5 0 1 2 3 ,7 5 3 ,8 7 5 1 3 4 ,4 5 8 ,2 0 0
B n r p lu s r e s e r v e
4 4 , 0 9 5 ,9 7 5 D e o .4 , 8 2 1 ,6 5 0
2 0 .2 4 3 ,1 2 5
3 1 ,0 7 0 ,1 0 0
Foreign Exchange.—The market for foreiga exohange has
been firm on a limited volume of business. The supply,
which is supposed to include bills drawn against gold ship
ments, has been equal to the demaud.
To-day’s actual rateeof exohange were as follows: Bankers,
sixty days’ sterling, 4 86%@4 86%; demand, 4 87%@4 87% ;
cables, 4 87%taj4 87%.
Posted rates of leading bankers follow :
M a y 14 .
S ix t y D a y s .
939
D em a n d .
P r im e b a n k e r a ’ s t e r li n g blH a o n L o n d o n ..
4 88® 4 88%
4 87
4 8 5 V ® 4 86
4 8 5 * 4 ^ 4 85**
P a r la b a n k e r s ’ ( fr a n o a ) ...................................... 5 1 6 78 ® 5 163ie 5 1415 ia ® 5 15
A m a te r (la m (g n J ld era ) b a n k e r s ....................
4 0 *8® 40316
4 0 38 ® 4 0 7i6
9 5 * 4 ® 9 5 6 l6
F r a n k i o r t o r B r e m e n (r e to h m a r k a ) b 'k e r a
9 5 58 ® 9 5 1 m 8
The following were the rates of domestic exohange on New
York at the under-mentioned cities to-day: Savannah, buying
1-18 disoount, selling par ; Charleston, buying par, selling %
United States Bonds.—Government bonds have been ac
tive and strong. Sales at the Board include $327,000 4s,
I coup., 1925, at 122% to 123%; $3,000 4s, reg., 1925, at 122% ;
$129,950 4s, coup., 1907, at 112 to 112%; $3,000 4s, reg.,
) 1907, at 111; 835,100 5s, coup., at 113%' to 113%, and $3,000
5s, reg., at 113. Following are closing quotations :
In terest
P e r io d s
..............r e g .
2s, —
4a, *.907
___ r e * .
4 s , 1 9 0 7 ............ o o u p .
i s , 1 9 2 5 ............... r e g .
4 a , 1 9 2 5 ............c o u p .
5 8 , 1 9 0 4 ___
...r e g .
5 s , 1 9 0 4 ............ o o u p .
6 s , o u r ’i y , ’ 9 8 . . . r e g .
6 s, o u r ’t y , ’ 9 9 ...r e g .
i a , ( C h e r .) 1 8 9 8 .r e * .
4 s , (C b e r .)1 8 9 9 .r e g .
i f ay
8.
Q .-M o h . * 9 6
Q .- J a n . 111
Q . - J a n . 112*4
Q .- F e b . *12230
Q .- F e b . 1 2 3
Q .- F e b . * 1 1 3
Q .- F e b . 1 1 3
i . *104*4
J
* J. * 1 0 7 %
M a r c h . *101
M a r c h . *101
H ay
10.
i f ay
11.
M ay
12.
M ay
13.
i f ay
14.
* 96
*110%
*112
*1225g
1225a
*113
113%
*104*4
*10^ *4
*10 L
1*101
* 96
*110%
*112 *6
1227g
122%
113
11316
*104*4
*107 *4
*1 0 1
*101
* 96
*11050
112
*122**
12 23*
*113
1 1 3 >4
*104*4
*107 38
*101
*101
* 96
*1 1 0
1 12 *4
*122 *a
123
*113
'l l J
*104%
*10730
*101
*101
* 96
*110%
*112
*122%
123%
*113
*113
*1 0 4 *4
*107%
*1 0 1
*101
ttie prioe bid at the morning board, no s a l e was made.
United States Sub-Treasury.—The following table shows
the daily receipts and payments at the Sub-Treasury:
* TU B is
IJa Ia n ees.
D a te.
R e c e ip ts .
P a y m e n ts .
M ay. 8
•• 1 0
“ 11
“
12
“
13
“
14
$
1 ,9 3 1 ,1 9 5
3 ,2 3 1 ,2 3 4
4 ,5 6 7 ,9 0 8
2 ,0 9 6 ,6 0 7
3 ,4 2 4 ,3 2 1
7 ,5 0 5 ,1 4 6
$
3 ,1 6 1 ,8 7 6
3 .8 4 9 ,7 9 5
4 ,3 8 3 ,8 3 3
2 ,8 8 8 ,5 2 7
4 ,3 2 2 ,9 6 6
3 ,9 2 9 ,7 3 6
T ota l
2 2 , 7 5 6 ,4 1 4
2 2 ,5 3 6 ,7 3 5
C o in .
$
1 2 6 ,6 1 4 ,2 5 9
1 2 6 .5 0 8 ,1 1 5
1 2 6 ,5 1 3 ,4 1 9
1 2 5 ,9 0 4 ,3 8 3
1 2 5 ,8 6 6 ,7 6 1
1 2 6 ,8 6 ,0 7 3
C o in C e r t’s.
$
1 ,2 3 7 ,6 2 3
1 ,3 0 0 ,0 0 7
1 .5 2 5 ,1 8 2
1 ,3 0 0 ,0 8 1
1 ,5 1 1 ,4 4 0 !
1 ,5 4 6 ,953|
C u rren cy.
»
6 7 ,4 3 5 ,8 9 8
6 6 ,8 6 1 ,0 9 7
6 6 , 8 1 4 ,6 8 1
6 6 ,* 5 6 ,8 9 8
6 5 ,7 8 4 ,5 1 7
6 8 ,3 2 4 ,0 9 6
coln s.-F ofiow in g are the current quotations in gold for
coins:
S o v e r e i g n s ............. $ 4 8 7 ® $ 4 9 0
N a p o l e o n s .............. 3 8 6 ®
3 89
X X K e lc h m a r k s . 4 7 9 s
4 31
2 5 P e s e t a s .............. 4 7 7 ®
4 81
S pan. D o u b lo o n s . 15 5 5 ® 1 5 7 5
M e x . D o u b lo o n s .1 5 5 0 ® 1 5 7 5
F in e g o l d b a r s . . .
p a r ® % p rem .
I F in e s ilv e r b a r s ... — 6 1 % ® — 6 1 %
1 F i v e f r a n o s .............. — 9 3 ® — 9 5 %
M e x lo a n d o l l a r s . . — 4 7 % ® — 4 9 %
| P e r u v i a n s o l s ........ — 4 3 % ® — 4 4 %
, E n g li s h s l i v e r . . . . 4 8 6 ® 4 9 0
U . 8 . tr a d e d o lla r s
— 6 5 ® — 75
1
State and Railroad Bonds.—Sales o f State bonds at the
Board are limited to $3,000 Tennessee settlement 3s at 82
and $1,000 Alabama, Class A, at 107.
The railway bond market has been narrow and business in
this department on a diminishing scale this week. Offerings
o f high-grade bonds have been limited and transactions con
fined ohiefly to the speculative issues, with fluctuations in
most oases represented by small fractions. Northern Pacific
bonds have been the active features and advanoed nearly a
point under the movement. Kansas Pacific 1st consols and
Erie general lien 3s have declined 1% points or more. The
active list includes in addition to the above Atchison. Burling
ton & Quincy, Central New Jersey, Chesapeake & Ohio, Chi
cago & Erie, North West., Rook Island, Erie, Fort W orth &
Denver City, East Tenn. Virginia & Georgia, Lake Shore,
Missouri Kansas & Texas, Milwaukee & St. Paul, New York
Central, New York Chicago & St. Louis, Norfolk & Western,
Oregon Railroad & Navigation, Oregon Short Line, Reading
Rio Grande Western, St. Paul Minn. & Manitoba, San
Antonio & Aransas Pass, Southern Railway, Texas & Pacific,
Union Pacific, Wabash, West Shore, Union Elevated. Brook
lyn Elevated, Brooklyn Union Gas and Standard Rope &
Twine bondB.
Railroad and Miscellaneous Stocks.— A feature of the
stock market this week was an increased interest by brokers
with foreign connections. Operations by arbitrage houses
have been on a more extensive scale than of late, owing to a
revival of investment and speculative activity abroad.
Under the influence of this movement the highest quotations
of the week were generally made on Tuesday, when the
active list showed gains of "from 1 to 2 per oent, averaging
about 1% per cent. On this rise there was some taking of
profits, but the reaction which followed was due more
largely to the fact that the Cuban question is again up for
discussion at Washington, which bas nad a depressing effect
upon business at the Stook Exchange. Changes in the active
railway list were about evenly divided between gains and
losses, but rarely exceeding 1 point in any case until to
day, when the market was weak and lower quotations were
general. The coal stocks were weak features, Central of
New Jersey having declined 3% points. Union Paoifio has
been unusually active and on Wednesday sold at 7%, against
5% last week and 4 % on April 19. Northern Pacific preferred
shares in sympathy with the bonds have been in demand at
advanced quotations. Manhattan Elevated moved up 2%
points on a favorable quarterly statement. The grangers
have been relatively strong, all hough Burlington & Quinoy
shows a net loss of 1 point. Of the miscellaneous list Chioago
Gas has been a prominent feature and declined 1% points
on doubts as to the success of the gas consolidation bill in
the Illinois State Legislature. Pacific Mail advanced on the
anouncement of a dividend, but closes with a net loss o f %
per oent. American Sugar has fluctuated between 112%
and 116% under the influence of Senate discussion of sugar
schedules in the tariff bill, dosing at 112%. Changes in other
stocks inoluded in this list are unimportant. |
T H E
940
NEW
C H R O N IC L E ,
rvou
L X 1V
YU UK S T U C K K X C H A X « K ~ A C’ 7 7 1rE S T O C K S f o r ireck e n d in g M A Y I t , a n d s in c e J A X . I , 1 8 9 7 .
HIGHEST AND LOWEST PRICKS.
l Mou&tur« 1 TumAmr, JW«?4ce*(i»y» j
10. 5 May i L ! M ay 12. j .May 18.
1 0 % 10% 10% 1 0 % 10H
10% 19%
10V
i« % w \
% * .... .
%
n % 1 1 % 1 :% 11% •11%
*20
1 20% 20% §20
20
54% *54
64% 54% *54
47%
47
40 V
*8%1 <•>% 46%
77
i 7$ H 79%
77% 70%
7%
*8
I *7
S ,
7%
16%
i' 16% 16%
36% 1CV
§153
*140
74% 7 5 % 7 4 % 7 5 % 74%
*40
! *40
m ' *40
50
*95
08
*05
1 *m
98
74
74% 74% 74%
M31 131
331 % 331 % §131%
104 )* 104% 104% 105% 104 %
•l *>4 155 *154 h i m
63%
s, 63% 03% 63% 64%
56
56% 57%
50% 57%
#1S8 145 '138 1 ■;ft *138
28% 2 8 V 29 s* 29% *28%
JOS»
*i%
2%
*1 %
•105% 105% 106 106%
148%
148% 149
•148 149
- 0 % ......... *10%
•8%
9%,
* 3 7 ......... §38%
•38% 87
•1 1 % u %
12%
•27% 20% 29%
*16
19
*17
•23
*23
12 0 12 0 *120
118 122
{92
93%
03
•93% 04
•6
6
46
6
•5%
25 l *80
25 ; •SO
♦30
14 !: 13
14 * *13
*13
. •62% 65 I 03%
182%
•it!.: 165% 163% 165% 164%
*41
*42
48
49
*42
44% *5
44% 44%
45
82% 83%
82%
82
32%
105% 105% 106
104% 105
95
§94V 94% 495
•17
1S%
17% 18
•75% 77%
*75% 77
46 i *44% 40 .
•44
10% 10%
11
10% 10%
27
27% 27%
27% 27%
1S% 12 % 12% 13%
13%
•17
20
*16
20
•17
2%
14 8 c
......
38%
12%
£9%
19
27
130
03%
6%
25
13
66%
161%
46
45%
84%
106
10%
20%
%
12
21 :
54 V
48V
77%
8%
16%
lftl
74 V
50
08
74%
131%
105
10%
19
s .........
11%
i i ’4 l l* s
2 0 % 20V *20
•5*
OS's •53%
•40
47V •46%
75%
77V 77V
0 : •8
•8
10
i e s 18%
10S
19%
STOCKS.
Friday,
May 14.
10V
20
150
10%
19%
%
11%
21
55%
47
77%
9
16 %
......
A c tiv e K « . S to ck * .
A tchison T opeka & Santa Fe.
Do
prat.
A tlantlo * P a c ific ______ ____
Baltimore A Olilo................
Brooklyn Rapid T ra n sit...
Canadian Paclllo................
Canada Southern................
Contra] o f New Jersey .......
Central Paclllo...................
Chesapeake i O hio............
Chicago
& Alton................
104% 105
104 % 104% Chicago & N orth w estern ..
154 154
....................j
I>o
pref.
63%
64%
62 % G3V Chicago R ock Island <fePaclllo
64%
55% 56% 55% 56 Chtcugo St. Paul Minn. i O m .
50%
’138 145
"138 145 I
Do
p ref.
lift
129% 29% 27% 28% Clave. Clncln. Ohio. A St. L ...
............................................L
Do
p ref.
•1% 2
"1%
'% C oln in b n a H ooking V a L A T o l
*1%
H
............................................L
Bo
pref.
Sales o l
Range fo r year 1897.
the
On basis o f loo-share lots. J
Week,
Lowest.
Shares.
H ig h est
2,368
9 % Anr. 19 12% Mar. 3
12,023 17 Apr. 19 25% Jan. 3 0
.........
V A pr. 7
% J an . 14
1,300 11% A pr. 29 18 Jan. 8
286 18% Jan. 7 21% Feb. 11
200 40% .Mar. 29 56 Jau. 8
541; .14 V Jau. 13 51% Mar, 17
26,601 75% May I t 103% Jan. 19
100
7% Apr, 20 15 Jan. 5
2,664| 15V Mar. 29 18% Mar. 15
24 §151 M ay 7 4 170 Mar. 1
59,754 69% Jam 5| 78% Mar. 18
......... 45 Mar. 13! 45 Mar. 13
§95 Jan. 8 §08% Feh. 3
78,920' 69% Apr. 19! 78% Mar. 15
1,143 130% M ay a ia s% Mur. 18
4,2 «3 101% Apr. 19 110% Mar. 17
100 153 Jau. 12 155 Feb. 20
19,566 60% Apr. 19 70 Jan. 16
17,492 47 Jan. 2 0 1V Mar. 17
.........133% Jan. 18 143 Mar. 29
985 26% Feb. 16 33% Mar. 17
6 73 Jan. 4 80 M ay 6
200
1% Apr. 30 18 Jnn. 8
......... 40 Jan. 21 46 Jan. 21
3,988 99% Apr. 1121% Jan. 6
2,174 147% A pr. 30 157% Jan. 18........
9% Apr. 20 12% Jan. 19
10 36 A pr. 20 43 V Feb. 1
610 11% Anr. 19 15% Jan. 18
427 27 A pr. 19 35% Jan. 18
......... 18 Alar. 29 21 Jnu. 15
.........§24% Feb. 13 §24% Feb. 13
126 120 Jan. 1 6 1 2 2 Feb. 5
557; 91% Apr. 10 96% Mar. 16
30
6 A pr. 15
8 Jan. 16
......... 24% Mar. 18 27% Jau. 20
......... 13 May 111 18% Jan. 18
365! 58% A pr. 1 70% Jan. 20
512 152 Jan. 2 172 Mar. 1
41 Apr,
2 55 Jan. 8
24,005 40% A pr. 19 52% Jan. 1929,487 31% Mav
6 93 Mar. 2
1,975 99% Slay 3 110% JaD. 5
189 90 Jan. 28 100 Mar. 15
300 1 6 M ay 14 19% Jan. 29
125 77% Mar. 18, 79% Jan. 18
46 Feb. 26, 48% .Mar. 18
700 10 Apr. 19; 14% Jau. 18
1,913 2434 A pr. 19 32% Mar. 18
6,803 1 0 M ay 6 24% Jan. 18
20 Mar. 26 22% Jan. 12
§70 Jan. 25 §70 Jan. 25
544 Mar. 19 §44 Mar. 18
4,2; 2 92% Feb. 18 102 Mar. 22
11
Fel). 11 14% Mar. 15
6 7 V A p r. 15 75 Mar. 17
200 24 Feb. 10 34 V Alar. 17
37 160 Felt. 2 §178 Jan, 4
1,085 12% Apr. 19 15V Jan. 18
220
7 Apr. 1
9% Jau. 183,540 19 M ay 14 26% Jan. 18
268
9 Apr, 19- 14% Mar. 11
632 22% May 5' 28% Mar. 4
5,437 11 A pr. 19 16% Feb. 1
21,367 32% Jan, 5 ; 38% Feb. 24
50 § 10 A pr. 20 §17% Jau. 18
2,200 37% Jau. 8 , 45% Feb. 3
100 11% Mar. 29 14 Jan. 21
10 47 M ay 4 50 Feb. 1
33,789 116% A pr. 19, 19% M ay 10
3,9i;4 f 3 8 % Apr. 19 42% Apr. 8
2,519 j 22% A pr. 19 25% Apr. 9-
143% 148% 113% 148% 148% 148% DelawareLaokawanna&W eat
D enver & R io Grande
Do
pref.
E r ie ..........................................
12% 12% *12% 12% ..
D
o
1st pref
29% 20% *20% 30%j ..
_
Do
2d p ref.
E vansville A Terre H a u t e ...
120 130 *121% 130 *120 123 Great Northern, p re f................
103
83%; 03
03% *92% 94. IlllnolsC entral............
*5%
6% !Iow a Central..............
%
*6
6 %;
'6
25
!
Do
*20
25
25
*20
*20
p ref.
*13
15
15
Lake Erie A W estern
14
*13
XI
62
04
*62%
04
62%
Do
p ref.
----------04*163 164% *162 164% §162% 1 0 2 % L akeS bore A M loh.Southern.
48
”40 48
*40
43 L o n g Island.................. .
41
45 % 44
45% 43% 44% Louisville A Nashville. .
45
33%
83% 84% 84% 85% Manhattan E lev ated,con sol.,
83
100 lo g *105 10741 105% 105% M etropolitan Traction
06
§97
97 Michigan Central.
•90% 09 ! ;96
16 M inneapolis A St. Louis"
18% 16
•17
18
1«%! 17
Do
1 st pref.'
77% •75% 77% *75% 77
76^2 *75
*45
•45
46
46
•45
46
40
Do
2d pref.
10 % 11 Missouri Kansas A T exas.......
11%
11%
11 % 11% •11
27%
27
27 I ,
27% •27% 2 ? V 27
Do
pref.
13% 13% : 12% 1 2 % 1 2 % 13% Mlssoiirl Paoiflo.....................
13**
20%
M
obile
A
Ohio...................
*17
20
•17
20
•17
20
____Naahv.Chattanooga&St.Xouis
37 *......... 37
37
....... 37
37 New England..................
' ........ 37
100 ; 100 100
09% 90%
09% 99% 98% 99 New Y ork Central A H udson'
99% 100%
*11
13
13
*11
11%
13
i
-11%
13 New Y orkOhicago A 8t. Louis
•11% 13
•11% 13
65
75 I *65
75
78
•05
75
*65
75
*05
75
Do
1st p ref.
*rt
27% 27% '2 6
29
28 i *26
26%
26%;
*25
28
29%
Do
2d p ref.
*%m 170 |•Htt 171 §167% 167% ■167 169 §166% 166% *166- 169 iN ew Y orkN ew H aven& H art,
13% 18%
13% 13%
13% 14
13% *13% 13%
13% 1 3 V N aw Y orkO ntario & Western.
•7%
7%
8
*7%
8
7%
7%
•7%
"
7%
7%:New YorkSnBtj.A W est.,new.
20%
20%
*20% 2 1 % ' * 2 0 % 21% * 20% 21 %
21
39
20%'
Do
pret.
21
2
1(1 ! *0% 10%
10% 11% 10% 10% N orfolk A W estern ..........
10% 10% * 10% 11 % *1
* 2 1 % 23 . 122% 22 %
20%
27%
§26% 26%
Do
p fe f
20% 20%
24% 25%
12% 12 % 12% 13%
12% 12%
13%
1 2 % 13% 13
1 2 % 1 2 %.Nor. Pacific R y.votin gtr.etfs.
36% 36%
30% -87%
36% 37%
85 V 36%
Do
p ref
s e v 87% ' 36% 37
80 , *1 0
*10
20
10 I §10
10
•10
*10
2 0 I §10
20 Or. B R .A N a v .C o.v ot.tr.etfs.
42
§41% 41%
45%' 45
45
43%
43
45% 45%'
45
Do pref., v ot. trust.oils.
* 11%
13
12% •1 1 % 12 %
* 11 %
12% 12% *12
12% PittsburgOinn. Ohio. A St. L„
8 12%
*44
48% *44
49
48% *44
48% ’ *47
Do
pref.
46% •4-1
§48% -18%
17% 18% Reading, v otin g tr. e e r tils ...
1-8 %
18% 19%
18% 1«%
18% 10 : 1S*8
- , « 19
40% 40% 41% 40% 41 : 40% 40%; 40% 40%! 39% 39%: 1st pref., votin g tr. eertlfa.
24%
24% 24% ; 23
24% 24%
24% 24%
24% 24%
23%; 2d pref., voting tr. uertils.
___ R io Grande W e s te r n ..............
*117% 116%' 118 118
T i 7 u s ; 117% 110 *117% 119 i* 1 1 7 % ll9
Rom e W atertown A Ogdensb.
" i b o § i l T Mar,” 8 §1 1 9 ' J a n 'l S
64 1 •60
*60
04 | §60% 60% *60
*60
65 I *60
65 St. Louis A lt. & T. H.,tr.reota
64
7 §60% M ay 11 §60% May 11
4%
;-4%
*4%
4%
*4%
5 St. L. & San IT ., v o t tr. otfs.
4%
4%
4%
4%
272
4 A p r. 19
5% Feb 4
- , 3#% 38% 38%. '¥ «% '30% *38
38%, 3h% 39% *38% 39%
948 37 Jan. 29 40% Mar. 4
Do
1st pref.
ia % 13%
*12% 13%
13% 13% •1 2 % 13%
13% 13% *13
14
Do
2d pref.
440 12 Apr. 15! 1 6 Fel). 3
*2% -8 J 8
8 1 *3
3 %; '8
3%' *2%
3% St. Louis Southwestern...........
100
1 Apr. 1
4% Jam 18
3%: *3
c%
«%
* 6%
*0%
7%'
6%
6%
7
7
7%
*6%
JH )
Do
pr el.
410
3 % Apr. 1 11% Jan. 18
* 1*
23 i *18
*16
23
18
23 *
2315
‘— 1St. Paul A D u l u t h . . . . . . . . . . . . .
22
........ 20 Jau. 4 22% Jan. 13
....... . S7 j’ ......... 87 | •65
87 *
87
*70
87 ]
Do
pref.
......... 75 Apr. 2 0 6 8 7 Feb. 8
* H 4 517
n s
ir
116 120 * 11 0 12 0 !8t. Patti Minn. A M an itoba ...
110 120
116% 11'
2 5 0 1 1 4 Jan. 28 118 Mar. 3
15% 15%' 1S% 15%
15% 15%; 15
15
15
15
14
%
Southern
Paclllo
C
o.................
1,880' 13% Jau. 13 15% Jan. 18
14% “
'
~ ■“
8
i
7%
8
«% !
8 1 *8
9
8%
8
1,630, 7 A pr. 19 10 Jan. 10
7%
7 V Southern,voting tru st eertlf.
fS % M %
2«% 26%
28% 37
26% 27
26
26%
25 >s 26 j D o p ref.,v otln gtru st. cert.
7,287; 22% A pr 19 29% Jan. 19
8%
•e%
8%
sv
0
9
*8%
8%
8%'
§8%
8% T exas & Paoilio...... ..................
250
8 Apr. 1 10% Jan. 18
5%.‘
5V
6 6%
7%
e%
cv
6%
7
6%
0% Union Pacino trust, receipts.. 27,842
4% Apr. 19 10 Jan. 5
1%
!%■ ♦1
1%
1%
*1%
1%
1 % Union Pacific D enver A G u lf.
225
1 Apr. 24
2% Jan. 0
*3%
M%
•4%
s%
4%
*4%
5
«%
4~„
5% W a b a s h ......... ......................
5%
4h< *4%
462
4% Mar. 29
7% Jau. 16
18
13
-tt%
33%
12% 12%
im
12V 13
1 2 % 12%
2,760 11% Apr. 19 17% Jau. 18
Do
pref,
1 )
1
1
1% '
•v
1 % W heeling & Lake Erie............
810
% Apr. 23
6 % Jan. 2
§1%
*S% 8%
( 3%
3%
*2%
4 j *2%
3% !
-2%
280
2% Apr. 15 29 Jam 5
2%
Do
p re t
•J
1%
l% j *1
1
1 % *1
IH j f l
1 % Wlso. Oen. 0 o „ v otin g tr. otfs
20) 1% Mar. 31
2% Jan. 6
l i l a c c l hi m -ovt* S l o c k a.
*10% 11% *10% U %
1 2 | *1 0 % 12 I *10
1 1 % 13 1 * 1 1
11 % American Cotton OH C o........
600 1 0 Apr. 28 14% Jan. 16
* 5 f% W V *68
B8%| 58% 50%
50 i X55
69% |59
55 |
Do
prof.
678 52% Fob. 16 59% M ay 1 1
11
1 i % 11% 11% 1 0 % U % * 1 1 % 1 1 % 1 0 % 10%
10 % 10% A m erican Spirits Mfg. C o___
9
4,592
9% Apr. 23 14% Jan
*20% HO J
30
30 \ 29% 29% 29
211
% § 28 % 28% j
Do
_
pref.
1,1(54
26 .hill, ft 34% Mar. 15
114%
144% 116%; 115 113% 1144 11..% x l l J h l 1»% 1 1 2 % 113% A m erican Sugar Refining Oo. 117,123 109% Mar. 29 11SV Mar. 3
I n - ', S0 3 4 l o t 1 0 1 * 1 0 3 % l O S V §1 1% 1,04% *103% 101
108 103%
Do
pref.
1, (I, HI: I ! HU,
105% Mar. 15
71% 73%: 71 % 72%'
1 % 71% 70% 71V 71
71 'Am
American
a cco C o............
erican T ob
ohacoo
o..
16,586! 67% Feb. 15 79% Jan. 14
105 103% *105% 1 0 5 % n o *
'1 0 4 107
Do
pref,
155,100 Feb, 11 108 Mar. 12
% X S'% 0 " f
0
f 1 p
8 % 9%;
9%!
0 % 9 V Bay State G a t ..........................
2,
'*!X>;7%Apr.17
13% Jan. 6
# 1 % p s %: <♦1 %
HZ% S i% i
83%' B im m \ 80% 81 %; Chicago Gas Co., oerte, o f dep. 102,727: 73% Jail. 5 84% A pr. 13
i p i % IC-ir4- 1(12
%%%
i n % 162%' 161 % i m h 180% 161 VOotwnldatert Gils C om pan y..
184 May 7
2
$1 % tl
&1H f l % ‘ Ui % 31%. $ 1 % Bi*#1 31
31% 31
31 % General Electric Oo..................................
3,833 30 A l>r. 19 36V Feu. 2
m % S4 H- 24%
%S
#I 4 %
24
24 I ‘ 23% 24 % National Lead C o . . . . . . . . . . . . .
3,982: 2 1 V F«l». 10 203h -Ian. 10
*#'!% W2
P I% 0M | %$%-% W2%, 92% 0 2 % j :|92% 93 ’ *02
92 -I
Do
pref.
1,12 >! 88 V Feb. 13 93 May 10
4
# | 4
4. j
4 % 4%f
4
4 j
4
4% ’
4 V N orth Am erican C o.................
ft Jan. 13
1,180
3-V Apr. 20
27% 27 \
27
27% Si%" 27 4 27 y
28%
t7 V w V
27
27% ;Pacific Mall.
7,707 24 Jau. 9 28 V May 11
*$ o
*HM
%**»*« *85
, Pipe Line Certificates----------*15#% 1 %§ f 157 % 167% $150 468 )*
It 5>S 158 •157 158 Pullman PalaceOarOompan;,
240 152 ♦Tan. ” 2 163 Mar. 3
*0®'
il
*40%.
01
81 1 *01
^tSf' *80% 61
61% Stiver Bullion Oertiflontes___
5,000; 01
Mav 13 65 V Jan. 27
% 7% '
7%
7
7 %:
0%
0 H Standard R ope A T w in e.........
1,117
(Us Mar 29 l i t ! Jan. 19
If'
2 0 % 19% 19% i i % 19% 18% 1 9 Tonlicpsoe Coal Iron A- H R .,. 13,094' 1H>«
* 0 %-; 1 #%
May 3 31 Jan. 18
7 \
7%
7%f *$%
410
7
7%
7 ; United States Leather Oo. —
li'fl %pr. 19
WV Jan. iy BM% S-4 J «4
f*4 %
64%
52% 54%' m
53%
Do
p ref 11.170 50 Apr 2 l 61 Jan. 19
Jll
1* 1
3"8%! 18
I S ' \ * i f% 13% m
9fiv 13 M ir 29 25% J an. 10
13 United States R ubber 0 0 . ...
68 ? §#4%
03% 63 % 82
63 !
Do
pref9 3 5 ! 01 Mar. 29 76 h Jan. 5
7STf 76% 7S% #6 % 76 % 7 / % : 78% 70%
76% 77%
70% 76% Western Union Telegraph .. . 41,136; 75V Mar 7 86 - Mar. 17
Tkw,
nt 1 asked; no sale m ale
- f*' * sti-vi 190 ih i ' - -., t R iiig ed a te* fru n listing on B tch a n je , April 3.
6
os
. .
*%
ir
THE CHRONLCLE.
H i t 15, 1897.)
94 L
S&W YORK STOCK EXCHANGE PRICES (Contii i n e l ) - I N A C T I V E S TO C K S .
May 14.
I nactive Stocks.
f Indicates unlisted.
Bid.
R a ilr o a d S to c k s .
Albany A Susquehanna....... . —IOC
Ann Arbor............................. ..1 0 0
Preferred...................
100
Boston A N. Y. Air Line pref..l(K
Buffalo Rochester & Pittsburg. 10<
Preferred................................... IOC
Burl Jedar Rapids & Nor.........100
Chicago Great Western...................
Olev. Lorain & Wheel, pref.......100
Cleve and & Pittsburg— . . . . . . 50
Des doinea <fe For D odge...—.100
Preferred..—............ ^...........100
Duluth So. Shore <k Atlantic H.100
Preferred IT...................... ..... .1 0 0
Evansville & Terre H. p re f.....5 0
Flint fc Pere Marquette..............100
Preferred....................................100
Green Bay A Western.............. 100
Deb. certfs. A ..........................1000
Deb. certfs. B. ......................1000
Kauawha A Michigan................ IOC
Keokuk A Des Moines................100
Preferred....................................100
Keokuk A W estern ....................100
Lou. New A. A Chic............ — 100
Preferred.................................... 100
Mexican Central................. . . —.100
Mexican National tr. ctfs.........100
Morris A Essex....... ..
50
N. Y. A Harlem.......................... 50
N. Y. Lack. A W estern............. 100
Or. Sh.Llne AU.N.when issued.100
Peoria Decatur A Evansville.-100
Peoria A Eastern------ .. . ..*.1 0 0
Pitts. Ft. W. A Ohio, guar.........100
Reusselaer A Saratoga...............-.-do
Rio Graode Western pref.........100
Toledo A Ohio Central................100
Preferred.......
100
* No price Friday
Range (tales) in 1897.
Ask.
Lowest.
Highest.
( \ Indicates actual sales.)
M ay 14.
I nactive Stocks.
tTIndicates unlisted.
Bid.
Range (sales) in 1897.
Ask.
Lowest.
Highett.
M is c e lla n e o u s S to c k s .
175
170 Feb.
339 Apr.
10
9
25
26i« 221 $ Apr.
103 106 L02 Mar.
U6 %
16% May
5*6* 55 Feb.
65
68
Apr.
75
4 Mar.
40*
50~ 40 Feb.
160 170 161 Apr.
7
9
7 Apr.
75
53
3 Apr.
23*
3i4
6
8
6 i* May
37 Apr.
10 Mar.
30 Mar.
27 % 35
271* Apr.
35
50
4i*
4 Apr.
2
6 Feb.
6
3
2
4
2 Feb.
12 Mar.
1C % 14
32 Feb.
% Jan.
1C| Jan.
71* Apr.
7%
1% Mar.
1
m
163 166 163 % Feb.
310
295 Feb.
119 Jan.
U 5 78
107q Mar.
May
1
%
3
6
3i* Feb.
160 170 150 May
175 185 130 Jan.
30
38i* 40 Feb.
12*4 25
40
70
latest price this week.
177i* Apr. Adams Express........................... ICO
10i* Jan. American Bank Note Co ............
. . . . 25
27 Jan. American Coal..................
105 Jan. American Express................— .100
20% Jan. Amer. Telegraph A Cable......... 100
55 Feb. Brooklyn Union Gas....................100
72 Feb. Brunswick Company..................100
5 Jan. Ohio. Juno. Ry. A Stock Yards.100
40C4 Mar. Colorado Coal A Iron D evel... 100
168% Jan. Colorado Fuel A Iron................ 100
Preferred................................... 100
8% Feb.
Col. A Hock. Coal tr.rots.allpd. 100
3^8 Feb. Commercial Cable....................... 100
8 Jan. Consol. Coal of Maryland.........100
40% Jan. Detroit Gas...................................100
H i* Mar. Edison Eleo. 111. of N. Y ............100
37 Jan. Edison Eleo. 111. of Brooklyn.. 100
30 May Erie Telegraph & Telephone ..1 0 0
Illinois Steel................................. 100
5 Jan. Interior Conduit* Ins.............. 100
6 Feb.
3 Jan.
28i* Jan.
32 F. b.
14 Jan. Michigan-Peninsular Car Co.
1% Jan.
8®8 Jan.
JSg Jan.
167 Jan.
300 Mar.
122 Mar.
157e May
2i* Jan.
5 Apr.
169 !* Mar.
185 Jan.
40% Feb.
148 152 147% Feb.
42i* 441*
110 125 113 Apr.
114
1091* Jan.
...... 88 85% Jan.
105 ^ 107
85 Jan.
% Jan.
>4
103 Feb.
% Jan.
3S
%
1534 May
J16>4
75 Feb.
87
3^ 4
3% Mar.
160
37
35 Feb.
155
Jan.
125 Jan
114 May
91% Jan.
109 Sq May
°a Jan.
1
27
85
4%
Jan.
Jan.
May
Mar.
37% Jan.
tm
101
65
33
111% 101% Jan. 111% May
97 Feb. 105 Mty
109
63% Apr.
67 Jan.
34% 29 *a Apr.
42 J a n .,
35
122
179
40
.... A
25 Jar,
22 May
70% Mar. 80 May|
50 May 3 50 Mavj
12 Jan.
52 Feb.
38 Apr.
52 Feb
10 May
15 Jan.
3 May
5 Jan.
5 Jan.
5 Jan.
10% Jan.
8% May
340 Mar. 340 Mar.
1% Jan.
158 Apr.
11% Jan.
8 Apr.
102 Jan. 108 Feb.
60
43
4 5^
10
11
2
3ia
4
6
7*s
8%
325
138
2%
___
10
119 124
42
38
101k 104
37
97
Feb.
41
Jan. 103
Apr.
Apr.
X Aotnal sales.
NEW YORK STOCK EXCHANGE PRICES.- ■S T A T E B O N D S M A Y 14.
SECURITIES.
Bid. ; Ask.
SECURITIES.
Bid.
New York City Rank Statement for the week ending
May 8, 1897. We omit two ciphers (0 0 ) in all cases.
(00s omitted.)
1Capital Surpl’s Loans.
S p e c ie .
L e g a l s . D e p o s its .
Bank of New York. $2,000,0 $1,894.3 $12,290,0 $!12.130,0 $2.140.0 $12 ,830 ,0
M an h a ttan Co.
M e r ch a n ts ’ .................
M e c h a n ic s ’ .................
A m e r i c a ......................
P h e u t x .........................
C it y ..............................
T r a d e sm e n ’ s ...............
C h e m ic a l......................
M e rch a n ts ’ E x c h ’ ge
G a lla t in ........................
B a t c h e r s ’ A D ro v ’ rs’
M e h a n lc s ' A T r a d ’ s
G re e n w ic h
L e a th e r M a n u fa o’ rs.
S e v e n t h ..
S ta te o f N ew Y o r k .
A m e r ic a n E x ch a n g e
C o m m e r c e ...................
B r o a d w a y ....................
M e r c a n t ile ........ jm
P a c i f ic .................
R e p u b lic .............
C h a th a m ........... .
P e o p le s ’ ............. .
N o rth A m e r ic a
H a n o v e r ........... .
I r v i n g .................
C it iz e n s ’ ........... .
N a s s a u ...............
M a rk e t A F n lt o n ...
S h o e A L e a th e r ........
C orn E x c h a n g e . .
C o n t i n e n t a l .........
O rie n ta l...................
I m p o r te r s ’ A T r a d ’rs
Park..........................
E a s t R iv er.
F o a r t h .........
C e n t r a l........
S e c o n d ------N in t h ...........
F ir s t ..------ T h ird...........
N . Y .N a V l E x c h ’g e .
B o w e r y ........................
N e w Y o rk C o n h t y ..
G e rm a n A m e r ic a n ..
C h a s e ............................
F ifth A v e n a e .............
G erm an K x o h a n g e ..
G e r m a n ia ....................
U n ited S ta te s ...........
L i n c o l n ........................
G a r fie ld ........................
F ifth ...........................
B a n k o f th e M e tro p .
W e s t s i d e ...
S eaboard—
S i x t h .............
W e s t e r n .....................
F ir s t N a t. B M clyn...
N a t. U nion B a n k . ..
L i b e r t y N a t. B ank.
N . Y P r o d .K x c h ’ ge
2.050.0
2, It>3.1
2,000,0 1.016.5
2.059.2
9.000.
0
1.600.0 2.479.3
1.000.
0
359,11
1 , 000.0 3,608.71
750.0
96,6
300.0 7.339.0
169,8
600 .0
1,000,0, 1.689.7
300 .0
181.7
400, Oj
224.8
165.5
2 0 0 ,0 ;
600 .0
472.5
300.01
94.0
1 , 200,01
525.3
2.587.8
5.000.
0
3.657.5
6.0 0 0 .
0
1,000,0; 1.577.1
982.0
1,000,0
490.4
422,7
1,500,0!
450,0!
200,0j
848.6
975.4
238.4
7 0 0 .0 1 582.1
1, 0 0 0 , 0 , 2.044.8
347.6
600 ,0
394.1
600,0
282.4
600,0
900 .0
963.0
1, 000,0
1, 000,0
1 , 000,0
300 .0
1.500.0
2 , 000 ,0
250 .0
3.200.0
1 , 000,0
300.0
750.0
500.0
1.000,0
300.0
250.0
200.0
750.0
500.0
lOOiO
200,0
200,0
600,0
300.0
200.0
200,0
300.0
200.0
600,0
200.0
2 , 100,0
300.0
1,200,0
500.01
1,000,0
115.4
1.243.0
200.1
394.2
5.555.5
3.202.6
138.8
2.040.8
500.3
670.7
290,1
7.028.7
244.8
75.0
698.8
426.3
280.4
1.481.1
1,108,3
550.2
688,6
699 .2
609.5
725.3
306.5
826.6
320.1
285.1
339.1
451.0
930.3
074,6
248 .0
353,9
13.508.0 2.057.0,
11.379.2 2 ,2 8 -.6
9.101.0 1,1*31.0
18.357.9 2.930.7
292.0
3.994.0
24.334.3 7.050.9
218.9
2.455.3
23.892.7 4,273,3
900,7
4.026.1
888.0
6.358.0
101.3
1.208.2
240 .0
1.950.0
976 ,2
107.3
344.0
3.314.3
257.5
1,000,5
163.9
3.294.4
24.733.0 2.697.0
22.364.0 2.734.9
717.6
5.714.9
668.5
8.032.9
2.477.6
431 .6
11.002.3 2.411.1
587.0
5.950.8
1.753.2
171.1
6.590.5 1.109.2
17.127.1 5.435.3
301.1
2.900.0
513.0
2.522.0
191.0
2.333.0
639.2
5.764.5
4 33 .7
3.603.0
8.825.7 1.374.2
649.0
5.112.7
131.0
1,797.4
23,320.0 3.191.0
25.356.5 8.842.8
161.7
1.230.9
20.337.7 3.213.3
7.839.0 1.349.0
850.0
4.790.0
379.2
3.373.0
22.845.5 3.625.8
1.520.0
8,*43,7
146.2
1.390.3
458.0
2.814.0
624.3
2.740.4
259.0
2.787.0
15.283.3 4.338.1
7.553.6 1.205.9
224.9
2.352.3
400.0
2.780.0
973.9
5,851,2
931.7
5.805.8
887 ,5
4.325.7
225.3
1.573.0
4.412.4
846 .0
227.0
2.336.0
792.0
0,488,0
201.0
1 080.0
857.3
12,794,1
933.8
5,314.0
10.220.3 1,708,0
207.7
2,0 7 2 ,6
546.9
3.789.9
.
T o t a l...................... 59,772.7 73,953.8 504.920.1
570.7
0.751.0
1,509,0,
2 .005.0 i
3,860.11!
901.0,
0,377,2
439,7
3,151.9
»4 1 .2 !
1,303.5
140.6
3 * 5 .0
199.2
940.2
319.6
433.4
2.803.0
2.240.0
645.3
1.844.1
507.6
1.344.1
969 ,9
550.6
939 .7
3.102.0
003.2
333.8
510.5
749.8
615.5
1.008.0
1,123,4
320.0
4.584.0
3.586.0
246 .6
4.884.2
3.193.0
1.368.0
949.1
2.133.7
1.344.8
258 .6
421.0
312.2
575.0
6.153.0
1.246.3
680.4
290.5
1.009.7
1.389.4
635.7
335.8
1.259.9
456.0
1.531.0
305.0
4.322.0
1.014.5
1.171.8
537.9
270.2
19.918.0
13.738.7
8.953.0
22,392,0
3.927.0
32.930.0
2.339.0
23.599.1
5.73H.1
5.757.1
I,
2.105.0
938,2
3.520.2
2.018.7
2.433.9
20.051.0
16,756,5
5.099.9
8.495.4
2.990.2
12.934.0
5.980.5
2.497.2
7.214.9
23.116.8
3.030.0
2.908.3
2.935.0
5.784.9
3.809.9
9.883.1
6.182.2
1.707.0
25.250.0
33.525.8
1.247.4
23.351.1
II,
6.251.0
4.070.4
21,963,0
10.418.4
1.370.4
3.105.0
3.418.4
2.770.2
23.823.5
8.759.8
2.980.4
3.495.3
6.761.3
7.092.8
5.198.3
1.801.0
0,048,9
2.516.0
8.089.0
1.518.0
14.750.5
6.533.0
10,742,7
2.819.7
3.284.8
99.1 1 5 .6 570.361.3
Bid.
81
Ask.
64i*
4
66
6
New York City, Boston and Philadelphia Banks:
UANK8
B asks
SECURITIES.
Tennessee—68, old.........1892-1898
6s, new bonds.......... 1892-8-1900
Do
New series— 1914
Compromise, 3-4-5-68...........1912
New settlement 3s................ 1913
Redemption 4s....................... 1907
Do
4 % s.......................1913
Penitentiary 41*8 ................... 1913
Virginia funded debt, 2-3s___ 1991
6s, deferred t’st reo’ts, stamped.
Ask.
Alabama—Class A, 4 to 5 ___ 1906 106 ......... Missouri—Fund.............. 1894-1895 .........
Class B, 5s........................................18061106
. North Carolina—6s, old............ J&J
Class C, 4s............................... 1906 1 100 1 *
.1 Funding act............................ I960
Currency funding 4s.............19201 100
. | New bonds, JA J......... 1892-1898
Arkansas—6s,fuud^Hol.l999-1900i
.
Chatham KR.........................
Non Holford.....................................1
.1 Special tax, Class I .............
7s, Arkansas Central RR............. !
.
Consolidated 4s..................... 1910 103
Louisiana—7s, cons................ 1914)
. ; 6s...................
1919 124
| 108%
New consols. 4s.....................1911! 96
. I! Cs, non-fund.
Capital 6 f
Surplus ’ Loans.
Specie.
D ep otils .1 Oirc'Vn. Clearings
Legais.
N. Y;*
Apr. 17.. 133.720.51503,988,2 8 6 .024.3 102,557,4
“
24 133,720,? 1504.817 ,2 'X7,073,1 105,881.0
May 1.. 13 3 ,7 2 6 ,5 1505 ,831 .7 87,329.8 105.803,8
”
8. 133,726,51504,V20 ,1 87,570,7 99,115,0
Bo*.’
A i»r 24..
May 1
“
8..
03 ,3 9 3 .8 ' 176 .180 .0 10,166.0
03.393.8i 176 ,231 .0 10,100,0
03,393,8; 175,230,0 10,373,0
P h i In . *
A p r. 24.. 35,388,0* 108,584,0
M ay 1.. 3 5 .3 8 8 .0 1109,081.0
8.. 35,388,0 ,1 0 9 ,4 2 7 ,0
*204*2
IFe om it tw o ciphers in all these
$
$
15,454,8 507.010.6
15,372.3 535.713.7
15.002.2 492,572,3
508,859,
574,7x4
576,863,
570,361,
14.672.3 027.710.5
7,267,0 166,134,
0,972,0 106,292,
7,176,0 165,980,
9.441.0 83.200.2
9.268.0 89.708.1
8.9 2 8 .0 107.734.5
39.082.0
39.151.0
38.406.0
119,245,
119,925,
118,994,
60.899.1
52.404.1
60.147.3
0,928,0
6.865.0
6.816.0
+ Including for Boston and Philadelphia the Item "due to other banks” .
Miscellaneous and Unlisted Bonds:
M is c e lla n e o u s B o n d s .
M is c e lla n e o u s B o n d s.
Ch. Ju n . A S. Y ds.—C ol.t.g.,5s 107 %b. Jeff. A c le a r . 0 . A I . 1st g . 5s
2d g. 5s ....................................
C olorado (J. A 1 . 1st co n s. os.g .
92 b.
C o lo ra d o F u el & I .—G en. os.
81 a. M auhat. B ea ch H . A L. g. 4s.
M etro p o l. T e l. A TeL 1st 5 a ..
C ol. A H o ck . Coal. A I .—0s, g.
M ic h .-P e n in . C a r 1 s t 5s —
C om m ercia l C a b le —1st g. 4 s . 100 b
92 a.
M utual U n ion T e le g .—6e, g . .
C on s.G as C o .,C h ic.—1st g u .5 82 a. N a t. Starch M fg . 1st 6 s ........
D e B a rd eleben C. A I . —g. ds.
72 b. N . Y A N . J . l elep. gen . 5 s ..
D et. G as con . 1st 5 ....................
EdiBon E leo. III. C o.—1st 5 s .. I l l b. N o rth w e s te r n T e le g r a p h —7a
P e o p le ’ s G as A C. / 1st g. 6s.
Do
o f B k ly n ., lh t 5-^.. 109% b
Co., C h ic a g o ........J 2d g. 6s.
E q u it. G .-L , N . Y .,co n s.g . 5s.
1 s t con s. g. 6 s .........................
E q u ita b le G. A F .—l a t 0 s ___
S ou th Y u b a W a t e r —C on . 6s.
E rie T e le g , A T e le p . 5s, g . ..
101 b
S ta n d a rd R o p e A T .—I n c . 5s.
G alveston W h a r f C o .—1 s t 5s 100 b
S u n d a y C reek C oal 1 s t g. 6s.
H e n d e rso n B r id g e —1 st g. 6s.
W e s te rn U n io n T e le g .—7 s ...
I llin o is Steel deb. 5 s ................
W h e e l.L .E .A P itt a .C al ls t 5 s
N o n -c o n v . deb. 5 s .................. .........
N o t e —‘ V * in d ic a t e s p r ic e bid ; “ a ” p r ic e asked. * L a te s t p r ic e tills
100
77
b.
b.
1 00 % b
......
107 b.
104 % b.
17% b
104 % b
w eek.
Bank Stock List—Latest prices. ((New stock. *Not Listed.
B A N K S .;
252,0
B id .
A sk .
A m e r ic a ........ 325
A m . E x c h .. . 170
173
A s t o r P lace* 225
B o w e r y * ........ 300
B r o a d w a y ,... 230
250
B u tc h . A D r.. 120 130
C en tral t . . .
105
C h ase..........
400
C h a th a m ... 285
300
C h em ical — 4000 4500
C it y ................ 500
C itize n s’ ........! 125
140
C o lo m b ia -----j 100
C o m m e r c e ...! 205 210
C o n tin e n t a l. 130
140
C orn E x c h ... 285 292
E a s t R iv e r .. 1135
11th W a r d ..
F l f 'h A v e ,. .. 3000 3500
F ifth * ........... 250
F ir s t .............
3000
F irst N .,S . I . 120 15*6"
14th S tr e e t..
F o u r t h ........... 178 185
G a lla t in ....... 310 330
G arise v o o r t .. ...... I 95
200
BAN KS.
G a rfie ld -----G erm a n A m .
G erm an E x .*
G e rm a n ia —
G reen w io h ...
H a n o v e r .......
H id e A L . * ..
H a d . R iv e r ,.
Im . A T ra d ’ rs
I r v in g ............
L e a th e r M fs ’
L ib e r ty * ........
L in c o ln .........
M an h a ttan ...
M ark et A Ful
M e c h a n ic s ’ .
M ’c h s ’ A T r s ’
M e r ca n tile ...
M e r ch a n t.’ ..
M e r ch ’ t . E x .
M e tro p o l’ s..
M t. M o rris .
N a s s a u .......
N . A m s ’ dam.
N e w Y o r k ..
N . Y . C o’ n ty
BAN KS.
Bid.
600
110
300
350
105
325
155
525
140
180
130
750
220
200
185
125
105
140
114
440
101
200
230
685
B id. A s k .
N .Y .N a t .E x 110
325
19th W a r d .. 100
N . A m e r ic a . 135
350
550
175
260
P eop le’ s ........ 210
P h e n ix ......... 108
P l a z a .......... 185
P rod . E x ,* ... 115
R e p u b l ic ... 150
800
240
240
425
95
155
195
130
145
480
105
240
P a c i f ic ........
!Shoe A L e ’th 90
S ta te o f N .Y . 111
T h ir d ...........
T ra d e sm ’n ’ s. 97
12th W ard*.
201
U n io n S q .* .. 175
U n ’ d S ta te s . 175
Y o r k v llle * ... 170
W e s t e r n ....... 114
W e s t S i d e ... 275
190
200
268
230
112
160
176
90
'89*'
125"
116
VHE CHRONICLE
H-12
U«jm».N, rH IL A O K L P IIU
ANU BALT1M0KE STOCK EXCHANGES.
p r i c e * — b o * I’ m
Tu»8ttey, Wednesday I Thursday,
May 12. i May 13
May 11
May 3 ; May 10.
1 0 % 10 % ! 10% 10%
1
0
%
10%
*10% 10% 10% 10 %
...... .*-»»«*j — / ....a
.....
im 1
„
12
12
•
a
rt‘ % 1 *2%
,io o »
65 * .... 65
64 V 04%
65
05
65
19%
19%
19%
19%
19%
19% 19% 19% 19% 19%
19% 19% 19% 18% 19% 19% 19% 1 9 % l»% 19%
iffVfjMfcl«
213 21 ^
213% 214 214 214
F|jHfttf£0til> 1,00] 31% •ill ,*218 214
•213 214
213 213
218 •2:2%
t o o 1*§ii 312% 21 f
160
10i>%
100 160
lit* ISO
100 160
UKI 160 UK*
*9
10%
10%
10% r9
*9
10% •9
too.
A 4)
80 *411* £ L
Bwftftft .* * .
0M»tBT»t » f J
MftMSMKl
Q M & ttilJ fc :
P
t o o *56
too: 74%
73%
to o
M’>:
f*,g
*,56
<58
74%
74% 75%
73 % 78% 74%
6
*56
7 i%
74%
58
75%
71%
8
*56
58
74% 74%
74
74%
6
6
e
2>% 2 1 % __ „
100
CH* #1 H$y@ r i n i l
93
X
•
9
3%
94%
93%
94%
94%
1*3%
94
1
0
0
P llt jllt t ff | Wt f l 24
*24 •24% 24
24%
33% 23 % 24
50
(P M
l*#§llsel8
100
106
106
105%
105%
106
105%
100%
100;
Manec*#**
8
8
7% 8
8
•7 %
7%
7%
HotititHt. 10'* ' .
«N
101*1
If®*
57% 57%
57% 57 H
**
100!
72
71% *
*71
*71% 72
mtml ( S a l m \
13% 13%
13
13
13%
13
t Philo. ilCK) 12% 12%
*37
37 %
37
37
37%
*36%
36
30
100
177% 177% 1 7 7 % 1 77 <
178 178
OU% C**lo»5
(Boston/ 1001 178 178
52%
5a
5D
S
52
52
52
52
01%
P m m y tfm tm , .j p h u a .} . 50j
69% - 9 %
tw% 6*%
69% 69k
Ttme*
**
SO; 69% €9%
9% 9* « ST,.
9%
9%
K«#4t&c *teu. —•"
00 j 0&1£
6%
e% 6h
7%
5%
6 Hi
5V
0 u$o!i Fwrt$&. f Bostoni„100
9%
95»
»<% 9%
9%
9%
9%
9%
0 sic*is T tm ^I'Ioii - - f 1*4114®.i . 50;
1
#
o u * H to e fe i.
115 US*,. 115 115% 115% 116% 114% 115%
4*35.8tis^r
uf
103 *\ 104% 104 104
104 104
103% 104
fm terr# o *****
231 232
224 232% 230 232
100 323 222
B 0 } M # p b # n »-,
25 114% 110% 116 117% 1 19% 120% 121% 123%
80 * 1. A Mtmim&m.
17
17%
17% 18
15% 1B%
16% 17
25
B 8l*» A- Bofttra 5
370 3 7u
25! 350** 3,* 0** 350% 350% 365 365
Qm.ku.mct A SfMtl
*60
*60
67
('t s t o a Co ..... l i <B a te ).100:
*59
5 9 % 5 9 % 59%
5 9 ” 59
59” ' 59
OwsiolMiH'^ Otis
** 100
__ r_
17% 18
17% 17%
HtCMQJEMor. B « i* f1 (M s i« ).1 0 0
18% 13%
P n fo m 4 f
**
100!
64% 65% *64% 65
64
66
£rk- T*1 **pfeon e. f Bm ton). 100 * 6 3 "
31% 31% *31% 31%
31% 31%
31*4 31%
G en eral
**
100
70
69
69
*08
75 *........ 70
*70
.
*31% 35
*34
35
*33
35
35
nun&ti fiw&ei *»**
w loo *34
*20
21
21
tAtsMJti itiereilei’'
M
50
38% 33 H
*38
*38 .......
38
38
Ut&Tli<MUMf»v.ifK U a ., 50
a , e.T«2®pfec>Bs t s m w m iJ M 103 103% 104 104% 104% 104% 104% 1 0 4 h
14
14
14
14
13% 13%
Fa. II ntljU M toerf Philo.)
72
72
72
72
72% 72%
**
50
40
40
39% 40
W©,#h#e&
1
**
5
2%
2% 2%
2 % 2 % *2
W c«l
LasM LJftef&m )....
2%
* Bid ee*! »*)r«4 price*: no sale was m ade.
Inactive Stock*.
B onds.
Bales
C e n t u r a (P r ice * .
i. $|gH£llft*
l i M .
jm;
[VOL. LX1V.
Friday.
May 14
10%
*%
%
112% 113% 13.692
24 f
103% 103%
4,346
233 233%
120% 121% 17,i 04
16% 17% 15,347
132
370 375
*60
65
5 7 % *67
57%
253
17% *17
550
17%
M 8 L3 19 s
4
65 % 65
65
1,159
3L%
600
31
3 te
6i
67
07
17
3 4 % *34
35
50
*21
21^
14
30
38% *38
38%
105% *101 *2 105*2
229
13%
13% 13%
511
199
72
72%
72%
*39^2 40
168
*2
2%
2*4
700
Trust receipts.
t Trust
109*4 Mar. 29
Mar, 3
100% Jan- 6 105% Mar. 12
205*4 Jan. 4 236 May 13
94% Jam 2 129 Mar. 16
6 Jan. 11 20 Mar. 15
326 Jan. 2 3>»0 Mar. 1
67% Feb. 6
58 May 4 62% Jan. 15
15** Apr. 22 31 Feb. 1
1 7 H Apr. 3<> 33 Jan. 29
633a Apr. 1 67% Feb. 24
30*4 Apr. 12 36% Feb. 2
67 May 14 78 Jan. 20
29% Apr. 21 41% Jao 18
23% Feb. 1
38 Mar. 29 42 Jan. 14
101 Apr. 5 0 E% May 13
13 Apr. 30 16 Mar. 18
70% M ay 3 74% F eb
3
38*« Apr. 6 47 Jan. 12
1 % May 4
2 % Feb. 9
rec.,aU instal.
...... ...__
93% 94
*23% 24
106% 106%
8
8
...... ......
71
71
13
13
36% 3«To
177 177%
52%
52
69% 69=%
9s»
9%
6H
6%
9s
9%
‘ 2%
t
Bln
Highest
Lowest,
20 12% Mar. 3
17 ■37* Jan. 13
4 17% Jan. 8
13 60 Apr. 17
l i 20% A pr. 2
7 2 0 % Apr. 2
4 217 Mar. 4
2 214
Apr. 7
9 166 Jan. 18
22 11 Jan. 20
26 58 Mar. 3
5 7*% Mar. 18
19 78% Mar. 15
7
8% Feb. 5
12 25% Jan. 20
14 94% Mar. 15
18 30% Jan. 2
3 110 % Jan. 5
12
Oh* Jan. 30
6 37% Jan, 19
15 01% Jan, 7
27 72 A pr. 1
30 16% Feb, 1
15 39 Feb. 1
5 180 Mar. 1
3 53% Mar. 15
5 74 Mar. 4
19
9% M ay 10
12
9 J an. 7
29 13 =>8 Mar. 3
*50
73%
73
......
*6
65
31%
68
34%
*20
38%
105%
13*4
72
.
Shares,
301
*10%
'1 1
*61
*19%
19%
213
*212
160%
•9
58
*56
74*4 74%
74*s
72%
113*4
103%
232%
120*4
16%
37.5
*60
*56%
17%
Range o f sales In 1897.
Week,
114
104
236
123%
17%
375
j A sa .
•
6*4
12
65
19%
19^4
213
213
lfini,,
10%
68
74%
73%
6%
•21
23
93% 93%
23% 23%
106 106
S
,8%
*18
25
*57
58
*70% 71%
12% 12%
36
36
176% 177%
52
52%
69% 09%
S18,# !>%
6*4
6%
9
9%
9% Apr.
■15 Feb.
U
May
300 59*4 Jan.
2,13* > 1? Jau.
87) 17% Jan.
a t 209 Jan.
16 205 Jau.
6-1 159% Feb.
!> Apr.
5(i Mar.
8.899 69% Jan.
10,615 69*4 Apr.
6 May
870
25 16 Apr.
171 91 Jau.
48S 20% '-eh.
1,20 * 99% May
333
7% Jan.
...... 18 Apr.
1 0 ' 57 Feb,
22 67%, Jau.
1,974 10% Apr.
581 33% Jan.
133 176* Jau
1,899 5 ®s» M ay
900 66=% Jan.
18.060 8'-']. 4pr.
2,863
5 Apr.
3,765
S% Apr.
Bonds.
BoKton United Gas, 2a tn. 5 b. . 1939 5 60 ' 65
.— 1oIlat.Tr.4J* . 1 3 .J A I'
Pa. & N. Y . Canal,
..
,J *J
Bnrl.A Mo. River Exe nn t 6 b, J * J 5118 119
Non-exempt 6 b....... ..1 9 1 8 , J&J f 107 108
Oon.Sa..........................1
>a
99
Plain 4a........................ 1910, J&J § 96
P eople’s Trao. nruatcerts. 4B..1943
Ohio, Bnrl. & Nor. 1 at5,1926, A&O §103 103% Perkiom en, 1st B er.,5s.l9 18, Q—J
99% Phlla.&BM egen. M. 5g.,1920, A&O
2d mort. 6s..................1918, J&D 1 "
Debenture 6s..............1896, J&D
Gen. m ort., 4 g . . . . . . 1920, A&O
95
Odin. B n rl.* Quincy 4a 1922, F *A 5 93
FhUa & Read, 2d, Be. ..1 9 3 3 , A&O
R m » Division 49____ 1919, A * 0 ? 99 100
Consol, m ort. 7 s .........1911 J&D
55
Ohio.* W.Mloll. gen. 5 b, 1921, J&D § 50
Consol, m ort. 6 g -----..1 9 1 1 , J&P
Im provem en tM .6 g., 1807 A * c
57
Consol, o t Vermont, 5 s.1913, J * .i f 55
60
Cmretit River, 1st, 5e..1927, A * o ; 45
Cou. M. of 1882, 4s . . 1937, J&J
66
D et.O r,R ap .*W .,lB t4a,194 6.A *0 § 65
Terminal 5s, g . . . . . . 1941. Q .—1
P rrfi^ rred
.......
*•
100
..
Eastern l#t mort 6 g .l9 0 6 ,M * 8 . >120 121
Phil. Wilm, & Balt., 48.1917, A&O
Bmmmg. (PhU o.). 50
P 'tts. O. & 8t. L., 7 s ....l9 iio _ p &a
50
f ree.Elk. *M .V .,lB t, fie. 1933, end 513b
fw s j« m 4 f . . . . . . . ,
**
50,
Unstamped, 1st, 6s, 1 9 3 3 ... .... §130
Reading Co. gen. 4 s ____1997, J&J
H aal, A Broad T o p ,..
**
50
K .C .C .*8prtnK .,lB t,5g.,1925,A *0 j 45
60
Koohester Rollway, con. 5s ..193u
85
ft® ! <?:rr«4. . . . . . . . . . .
**
50;
if 0. F .B .iM . oon.6s, 1928, M&N { 82
8oh nyl.R .E .8id e,lst5 g.1935, J&D
10
.100
5
K.C. Mem. *. Blr., 1st, 2s,1927, M&B ‘ 69
70
Union Terminal 1st 5 s____ ..F & A
§121J*,l122
40
30
100
K.
C. 8t. Jo. * C. B ., 7 b. . 1907,
f■ tiie tte i.
..WWW* L, Rook & Ft 8., 1st, 7a. .1905, J&.1 5 75
77% A t l ^ f e a W ^ f 1907, J&J
. 50
121
124
M i l s e C>■n ttti!
iOO
Louie., Ev.*8t.T>..1st,fig. 1926.A&0 §100 103
Baltimore Belt, 1st, 5 s .1990, MAN
37
55
m m BUI A H.!?»v«oY/7*if«M 50
2m., S— 6 g .................1936, A&< i 85
Balt. C. Pass. 1st 5 s.. 1911, MAN
50
53%
B«**aaet^>sxtisg 7 a l . . .
**
Mar. H. * Out., (i>....... 1925, A&O §107 108
Balt. Traction, 1st 5s 1929, MAN
100
**»»•* M exican Central, 4 « . . . 1911, J * J § 67% 68
Mvtwt Aaiiit®*® On
Exten, & impt. 6s___ 1901, MAS
50
Worth F #sti*flfaiila.
#<
16
17
1st oonsoU noom es, 3 g, non-enn.
No. Balt. Dlv., 5 s....... 1942, J&D
C»?Fb. USMi all luwit-pdf Boston) .100
15
*0
7
S
2d consol, incom es. 3s. non-can
Baltimore & Ohio 4 g „ 1935, A&O
25
F * s c * 5 'iv » s i » - A I#, w . fP h U o* * no
N. Y. * N .E ng,,1st,7s, 1905, J * J 5119 119**
Pitta. * Conn., 5 g. .1925, F&A
19
50
.FtsR*A#L A R r l e . . . . .
18
1st mart. 6s....... .........1905, J * .1 §112*3 113%
Staten Island. 2d. 5 g.1926. J&J
i S f la M . . . . . . ,„„JJknt&n) io o
i
84
%
Ogden. *L .O ,C on.« « ...! 9 2 0 ,A *C § 82
Receivers’ certificates, 0s..J& D
fShs- * rr«4. . . . .
**
100
tn o .6 s..................................... 1920 |____
15
Do. Maryland Construe., 5s ...
. .*.*#*. .*«*. (M o l l .) .100 «»•»»„
Rn Hand, 1st,6s............ 1902,M *N 5105 107
Do. Pittsb. & Connells., 5s..J& J
. . . . .„
100Ff’efei'rwd . . . . . . .
2d, 5s...........................18 98.PE A 5 98 100
Bal.&OhloS.W ., 1st,4**g .1990, J&J
76
E ix t.........
. 50
76%
».
m h A t l a o l f / J t y 1 sthI i f g ® l?)*] It M *N 107%
50 93
Cent. Ohio, 4** g __ ....1 9 3 0 , MAS
B ttitw d <“« * , o » w . j ,
.100 248*. 247
Bntlalo Ry, con. 1st, 5s...........1931 108
Cent. Pass,, let 5s_ ___ 1932, MAN
JrrMif A Bf-» 6 b,
50
4S%
t atawlssa. M ,,7ii.........1900. P&«
W#'*s#*rs J*f. i . A Fens
100
1\ Chitr. Chin. * Gulf, prior Hen 6s
1%
x 8 i«s n o
2
.100
1
78% 79
(ii-ncrul 5s................... 1919, J&J
3
P t w i v i ***»..* ,*»,
1
72% 75
Cttixen*'Ht.Ry.nl lnd.,onij.5a.l»3o
100 112 i l l #
w?-tiiMWmh,
r'lilnrob. St, K r „ 1st, con. 5s-. 1982
Ooltuob. O. Crosstown, lBt,5R.1933
leorgta P ar., 1st 5-fin.. 1*42, J,v.l
.A.•B&sh** *f It* ’«, a*« I pd f B m ttm ) . 25 *50 '
f-m -o l. Tract, o f N. 4., 1stJa.1983 ‘ 91% 916& ii-or. So. & Fla., le t 5 s .. 1945, J&J
hw#f* f&S* KL U & M ... (BfaMm*:),.
'
* B'd U r'k,l»t,7s.lS>05, p * A
5 I t
forth. Cent.
___ 1900 J&.
A
... (Bmtm./, 25 i 19%. 20% Easton * Am. l*tM .,5e.1920,MAN 105% 106
6 s................... ................1904, J&J
Dm*. ......
60!
4%, 4 Klee. * People’s True, stock, It . otfs
60% 09Ta
series A , 5a................ 1926, J&.
B »•?«'» laitiaA,. . . . . . . .
"
10
4
4*s Elmir. A W flm .,le t.e s.1 9 1 0 , J *.l
4**e.............................. 1925. A&O
10
0 I 6*4 IlestotiTllle M, * F „ coil. 5s„ 1924 113
Mlaiag*,**
>lttB .*C o o n e llB .le t7 a .l8 9 8 , J&J
# A f t W m pm - W m S ,% m **
25
1
r’ nnt A BP-’ Top.C on.5s -on. a v i- 104 . . . . . . lootbern, 1st 5 b_____
%
1994, J&J
M in in it . .....
**
25' I t
12
K. C. Bob. Belt 1st 6 s...1920, J&D
Hrglnla Mid., 1st 6 s . ..1906 M J6
r m a t o v « B *r i / 4 .
6
%
% K sn ,C .P IU s.& G .la t5 s.l9 2 3 ,A * 0
2d Series, 6s................. 1911 M&6
Mis tnn ,. . * **
2 5 1 10
16**iLetHgb
.........1914, Q—J
3d Series, 6e...............191, , MAE
Qmtmim B 1s Iftit ......
**
25; 30% 21
2d 6s, gold.................. 1897, JAJ>
4th Series, S -4 -5 »___ 1921, MAS
t ’,4Uf&a® F a ^in^ i cv* y
100 167 157%
General tmtrt. 4%s, g .lA 2 4 .Q -F
5th Series, 5 e..............1926, M&t
F # j4 * * a U f t Bftiei. c m a «.K i0 0 i
20
92% 93 -<l
Jehlgb y » l f oal let 5 s ,g .l9 3 3 ^ * J
w
100j
! 40
l -high Valley, 1st 6S...1898, J * I )
—
H!n r#
tMi 10 8 n o
2d 7S............................ l i n o , MAP
MlSIiBLLANJSODH,
Ta^aiasP% .Btel®#.. ,
120
**
m\ t i t
. . . . . . 1Jaltlraore Water 5 s.. .1916, M&7
C o n so l.6 ..................... 19 23,.TAD
W m&mf. Fo'»* t ,
.
f’
10©
%
1
Newark Passenger, con. 5 s ...1930 108
FUDdlngSs------- -------1916, MAT
W
A M,.
21 - 23
**
50
Worth Psnn. 1st. 4 -....1 9 3 6 . MevN 110
Kxohange 31*s............1930, J A
FfwL,
w
5© 60 | 61
Ocn. M. ...................... 1903, JAJ
’ trglnla (State! 3s, new 1932, J A
fo r d * - B oston ,
Paterson Railway, consol. 6 s .........
Funded debt, 2-3n____1991, J&J
A t T e f * a. F. * w * f l m* 4#, 1095
90
eonsylvanla g e u .e g ,r ..l9 1 0 , Var 133*' ’ III” c IhesapesKeGas 6 s . . „ 1900, J A ’
A ;• - . ‘.r -«®t- f 4*. W 5 , w ^
P
*5
Consol. 6s, 0
1905, Var 119% ■....... 1c tonsol.Oas.flB— _ . .1 9 1 0 , J&
Wm&iM
€»a* 1*1 5 * .,...,^ .,.
S3
O o »« o l.5 s .r . ________ .1919. Var
___
’O
" ‘ ---le. orerdoaooniw m .
f Gnllsted.
* And aooroad Interest.
JVIfJf* o f May 14,
AStent* A QuirtBibs (Bail.) AOO
Sm%m A Pmvldfcne# i Rotten). 100
Cm x.tim A A ttenilopf. iPhtla.). 50
Okl»V}MMI
**
50;
lin p referred . . . . . . .
**
50;
Central O h io............. . (Bail.) 60
Cbl«Mtw A We*t M tefe. {Boston) .100
C otm m ^m x-h Pmm, *
**
l CM)'
0$® aw M m im $w r —
**
100.
■ N'.J.f iPhtfa.). 10O.|
;
F t e \ h B*r* Ma r q ...i Soften). 100
.....
......
....
Bid
Ask
100*4
97**
fir
98
105%
132"
124
i o i ‘4
114% 115
iTo? i i f
80%
i.03
81
90
120** 121%)
88
89
113
111
105
113% 113%
101
'¥•?% i o o "
~98%
112%
‘
113*3
109 109%
112
100 102
81% 82
11.)%
s*o
90%
l o s s .........
112
'lift
lu
105
89
113
118 1*9
114*4 115
__ ,
__ r
_ -.n
103%
109 109*4
118
122% 123
-...mm
106%
74
75
64% 65
106
117
117%
110
rHE CHRONICLE
May 15, 1897.]
sm
NEW YORK STOCK EXCHANGE PRICES (Continued)—A C T IV E BONDS M A Y 14 AND FOR Y EAR 1 8 9 7 .
R a il r o a d a n d
MISCELLANEOUS BONDS.
Infat
Period] May 14-
(sales) in 1897.
Lowest.
Railroad and
Miscellaneous B onds.
H ig h es t.
Amer. Cotton Oil, deb.. 8g.l9 00 y - j f ■106i*2a. 106 Feb. 109 Jan.
81% Feb.
Amer. Spirit Mfg., 1st, 6g.l915 M A S 73 b. 70 Apr.
78 34
80% Feb.
74^ Jan.
Ann Arbor.—l8t, 4s, g .......1995 Q - J
83% Mar.
At.T. AS.F.—New gen. 4 s.1995 A A Oi 80 b. 79 Apr.
447g
42*4 Apr.
Ad] astment 4 s . . . . ...........1995 Nov.
49% Feb.
B’wayA7thAv.-lst.oon.g.5$’43: J * D 1 1 9 ^ . 116 ^ Jan. 120 May
70 Feb.
Brooklyn Elev. 1st, 6g— 1924 ft “ C 77
78% Apr.
76 b. 68 Feb.
79% Apr.
Union Elevated,—6g
1937I*1 * «
81 Feb.
Bklyn Rap. Trans., 5 g_...1945 * * D, T■-S ^- a . 75*2 Apr.
Bklyn.Un.Gas,lst,con.5g.l915 ”, * “ i l l - a
105% Jan. 112% Apr.
91L2 Mar. 101 Jan.
B’klynWhrf&W. H—lst,5s,g. 45 * * 4
9 2 hi
Buff. R. & P.—Gen. g. os. 1937 -l1 Jf f| ,?7% b. 95 *3 Mar. 99 Feb.
Canada Southern.—lBt,5a,1908 " “ * \}A b. 108 Jan. 111% May
_ 104 *3 Mar. 108 Feb.
Cent, of Ga.—1st,
5 s ...1945 * “ 7 ^ 112 ^b 112% Feb. 113-* Mar.
89%a.j
89 May 92% Mar.
Cons., 5s, s
...........1945
*
Central of N. J.—Cons.,7s, 1899 Q—J 106 b.i 106*8 Apr. 108% Mar.
115 Mar. 115% Mar.
Consol., 7s........................ 1902 f * *Jj
Apr. '118 Feb.
General mortgage, 5 g ... 1987
!199
Leh.A W B .tcon.,7a,as’d .1900 Q **
90 Apr. 104% Feb.
mortgage5s.l912,“*
■
- ■
■« ^ 75*sb.
7o
78 Mar. j 90 Feb.
115 tb. ----114 ------Mar. i 116% Feb.
Am. Dock & Imp., 5a---- 1 9 2 1. " «
J-Jo
Central Paolflo.-Gold,
102**b. 100 Jan. j 102% Apr.
a » u m u . - u v m 6a.
w o1898
. J «}
^ «
1898 J *- J
9934 Jan. ■101% Apr.
Exten 5 g. .’. ..............
....... .*... 1898,
- , 101Ljb.
----Ohee. & Ohio. -Ser. A, 6g..l908
120 b. 119 Jan. 1121% Mar.
Mortgage,6 g.................. 1911 £ £ 2 118 b . l i 8 *3 Jan. 121 Mar.
l8toonsol.,5g................. 1 9 3 9 jJJ&N 109*3 ,107% Jan. 1112 Apr.
H 73*3
rro,~ 1 72 Mar. 76% Feb.
General 4^98, g ................. ,AAftlMA
1992 ^
®
R.& A. Dlv., lstoon., 4 g.l9 89 " « J 101 b. 97 Jan. 104% Mar.
92 Mar.
M
2d con.. 4 g :.1989 " & *Jj 92
86 Jan.
Ohio. Burl. & Q.—Con. 78.1903
J 118^b. 115 Jan. 118% Apr.
Debenture,5s................... 1913 J f& N . 99 a. 97 Jan. 101 Apr.
Convertible 5s................ 1903 |"f & S 101 b. 99% Mar. 102% Mar.
Denver Division 4 s........ 1922 * & a
94%b. 93 Feb. 96% Jan.
Nebraska Extension, 48.1927
N 91 b. 87% Jan.
93 Apr.
Han. & 8t. Jos.—Cons.68.1911 ' f - & £ U » b. 118 Mar. 121 Feb.
Ohio. <fc E. I1L—1st,s. f. 68.1907 «{ ®
115 b. i l l Apr. 115 Apr.
Consol. 6g..........................1934 ^ « O125%b. 124 Apr. 126 May
General consol., 1st 5 s.. 1937
*}, 99%
987a Feb. 101% Mar.
Chicago & Erie.—1st, 5g.. 1982 M
^ 109% 109 May 112 Jan.
Chic. Gas L.&O.—1 st,5 g .. 1937-J &
95 b. 93
Jan.
98 Apr.
Chic. Mil.&8t. P.—Con.7s. 1905 J * J 133% 128 Jan. 134% Mar.
1st, SouthwestDiv., 6s..1909'J & J *ll8% b . 115% Jan. 119 Apr.
1st, So. Minn. Div.j 6 s ..1910 A *
119% 115% Jan. 119% May
116 b. 112 Jan. 116% May
1st,Ch.&Pac.W.Div.5s.. 1921 *{ &
I l l b. 1106% Jan. 111% Apr.
Chio.&Mo.Riv.Div.,5s..l926 J &
Wise. & Minn.,Div ,5 g ...l9 2 1 J A
113%b 110% Jan. 114 May
Terminal, 5g.................... 1914 J A
113% 110% Jan. 113% May
Jan.102% Mar.
Gen. M.. 4g., series A . . . . 1989 J & J 101%b.; 96 -----MU. <fc Nor.—1st,con.,6s. 1913 J & D 120 b i1IB Jan. 118% Feb.
Ohio. & N. Pao., 1st, 5 g .... 1940 A A O ' 42 a. «40 J an. 144 J an.
Chic. & N. W.—Consol.,7s. 1915 Q— F 144 % b.'140 Jan. 145% Apr.
Coupon, gold, 7s...............1902 J & D I20%b. 116 Jan. 120% May
Sinking fund, 6s.............. 1929 A A O 116%b.|114 Jan. 119 Mar.
Slnklngfund, 5s...............1929 A A O 109% ! 108% Apr. 112 Mar.
Sinking fund, deben., 5s. 1933 M A N 113
110% Jan. 115 Apr.
25-year debenture, 5 s ... 1909 M A N 108
106 Jan. 110 Apr.
Extension, 4 s .................. 1926 F A a 103%b.|101 Jan. 103% Feb.
Mil. L. Sh. & W., 1st, 6g. 1921 M A N 131
131 May 134 Apr.
Exten. A Imp., 5g ..„..1 92 9 F A A 114% 112 Mar. 115 Jan.
Ohio. R.I. <fcPao.—6s,coup. 1917 J A J I31%b. 128% Jan. 1132 Apr.
Extension and ool., 5 s ... 193 4 J A J 105 b. 101% Jan. i105% Mar.
30-year debenture,5s... 1921 M A 8
97 b. 93 Jan. j 99% Feb.
Ohio. St. P. M. & 0 .-6 8 ...1 9 3 0 J A D 13 l%b. 126 Jan. 1131% May
Ohio.* W.Ind.—Gen.,g.,6s. 1932 Q - M
119 b. 116 Mar. 117% Jan.
98 b. 98 May |102 Jan.
Ciev. Lor. <fe WheeL—5 s ... ____
1933A a o
a c . O . A l . —Consol.7g .. . 1 9 i4 J A D 134 b. 131% Jan. ’1333a Apr.
General, consol., 6 g . . . . 1934 3 A J 127% 123% Jan. 127% May
G.O.O&8t.L.~St.L.Div.,48.1990p* & N 95 b. 92% Jan.
96% Apr.
Peo. A E.. 4 s ................... 1 94 0 A A O
72 a. 70 Mar. 75 Jan.
8%a. 110 Apr. t l 7 Jan.
OoL Midland—Cons., 4 g. .1940 F A A
OoL A 9th Ave. gn. 5s, g ..l9 9 3 iM A 8 116 %b. 115% Mar. 118 Feb.
OoLH.Vai.&Tol.—Con.,5g. 1931 M A 8 67 b. 63 Feb.
88% Jan.
General, 6g...................... 190 i J A D
50 a. 49% Feb. 87 Jan.
Denv.A RioGr.—1st, 7s,g. 1900 M A N 110%b. 109% May 113% Apr.
1st consol., 4 g................. 1936 J A J
87 %b. 87% May
89 Jan.
DnL & Iron R’ge— 1st, 5 s .1937) A A O 97 %b. 98% Apr. 101% Jan.
DuL8o. 8h, A Atl.—5 g ....l9 3 7 [J A J *101 b. 99% Jan. 102 Feb.
9
J & J 112
Edison -El. *IU. —lst,coh.g.5s/95
104% Jan. 112% May
Erie—4, g, prior bonds.... 1996 J A .J 88%
88% May 95% Feb.
General, 3-4, g ............... 1996 J A J 62 %b. 62 May 66% Feb.
Erie R y .-ls t , con., 7 g ..l9 2 0 M A 8 *141%a. 139% Mar. 143% Feb.
1/g Dook, oonsol., 6 g. 1935 A A O 134 %b. 133% Jan. jl36 Mar.
Ft. W. A Den. City.—4-6 g.1921 J A D 58
53 Jan.
59% Mar.
Gal. H. A8an. A n-M. AP.D.lst,5g M A N 88%
88 May 91 % Feb.
Gen. Electrio.deb. 5 s ,g ... 1922 J A D 97%b. 90% Jan.
97% May
Hons, a T. Cent. gen. 4s, g. 1921 A A O • 67 b. 65% Apr. 70 Mar.
Illinois Central.—4s, g.......1953 M A N 100 b. 99% Jan. 103 Jan.
Western Lines, 1st, 4s, g. 1951 F A A 103 b. 100% Feb. 103% Mar.
iQLAGreat Vor.—lst,6H.g 1919 M A N 118
117 May 120 Apr.
2d, 4 %-5s..........................1909 M A 8 75 %b. 73 Jan.
80 Feb.
Iowa Central.—1st,5g___1938 J A D 90%
88 Apr. 97% Jan.
Kings Co. Elev.—1st,5g . 1925 J A J 46 b. 44 Feb. 50 % Mar.
Laclede Gas.—1st, 5 s ,g ... 1919 Q—F
95%
93% Jan.
97% Apr.
Lake Erie A West.—5g___1937 J A J 115% 113% Jan. 117 Apr.
L. Shore. -Con,op., lst.7s.1900 J A J 112%b. 110% Jan. 113% Mar.
Oonsol. coop., 2d, 7s.......1903 J A D 123 %b. 119 Jan. 124% Mar.
Leh.Val.Ter.—1st, gu., 5s.l941;A & O 108% 100 A p r . 111%
___ Mar.
Lex. Av. APav. F.gu. 5s,g 1993 M A 8 116 b. 115% Mar. 111
118 Feb.
Long Island.— 1st con.,5g.l931 Q—J ■119 a. 113 Jan. 119 May
General mortgage,4g... 1938 J A D 88% j 76% Jan.
88% Mar.
Louis. A Nash.—Cons.7 8.. 1898 A A O 103%b. 102% Apr. 106% Mar.
N.O AMobUe,
J * J 120 %b. 116 Jan. 121 May
“
“
2d, On.- 19301J & J 101 b. j 98% Jan. 103% Mar.
General, 6 g ..................... 1930J A D 118 b. 115% Jan. 118 Apr.
Unltied,4g ...................... 1940 J A J
79%aJ 78% Jan.
81 Feb.
Louls^N. A. A Oh.—1st,6 s . 1910: J A J, 113%b. i l l Jan. 114 May
OLosing
|lnt*8t Price Range (sales) in 1897.
'Period H a y 14.
Lowest.
Highest,
L.N.A&C.— Jon.,6g, tr.rs-1916 A & O
182 J an. 185 Jan.
92%
Manhattan oonsoL 4s....... 1990 A & O
91% Apr.
95% Feb.
Metro. Elevated.- 1st, 6 g .l9 08 J & J 1X9 b. 116% Jan. 120 May
2d.6a.................................. 1899 M & N l O l i s b , 105 Jan. 107 % Apr.
Mex. Internat’l—1st, 4, g .l9 4 2 M & S
69 Mar. 73 Jan.
Mloh. Cent.—lst,oons., 78.1902 M <& N' 116 b. 116% Jan. 119 Apr.
^
il l
M A NV M10434b,
Oonsol., 5s........................1902
107 Feb. 1108 Mar.
Minn.AM.L.—lstoon.58,g.l934|M & N lOlhib. 100 Jan. 103% Apr.
Mo. K. 4 E . - 1st 5s, g., K0 ..1 9 4 2 A A O 90 b. 90% Apr.
95% Jan.
M. K. A Texas.—1st, 4s, g. 1990 J A D 84
82 Jan.
85 Mar.
2d,as, g ............................. 1990|F A A 56
5434 May
63 Jan.
Mo. Pao.—1st, con., 6tr.......1920 M A N 70%
70% May 87% Jan.
3d, 7s........................; ........ 1 906 M A N 95hia. 98 Mar. 105 Jan.
Pao. of Mo.—1st, ex., 4 g .1938 P A A lOOhsb. 100 Apr. 101% Feb.
2d ext. 5s....................... 193RIJ A J 103
100 Apr. 103% Jan.
St.L.AIr.Mt.Ark. B.,5s.l935 J A D 103 b. 103 Apr. 104 Mar.
Cairo Ark. A Texas, 7g.l897 J A D 1 03 a. 98 Jan. 102% Mar.
Gen. R’y Aland gr.,5g.l931 A A O 67%
67% May
77% Feb.
Mobile A Ohio—New 6g ...1 9 2 7 J A D 119 b. 117 Jan. 119 Feb.
General mortgage, Ss 1938 M A 8 6 6 %
68% Feb.
65% Apr.
Nash. Oh. A St.L.—1st, 7 s.. 1913 J A J 130%b. 127% Jan. 131 May
Consol., 5g.........................1928 A A O 98 b. 99% Apr. 102% Mar.
N. Y. Central—Debtext.4s. 1905 M A N 103 b. 101% Jan. 104% Mar.
1st, coupon, 7s..................1903 J A J 120 % 117% Jan. 121% Apr.
t
Deben.,5s, coup., 1884. .1904 M A 8 109 %b. 106 Mar. 110% May
| N. Y. A Harlem, 7s, reg. .1900 M A N 110 % 110% May 114 Mar.
j R.W. A Ogd., oonsols, 58.1922 A A O 119% 117% Jan. 121 Feb.
! WestShore,guar., 4 s . . . . 2361 J A J 119 b. 105 Jan. 1 0 9 % A ]ii'.
j N. Y. Ohio. A St. L.—4 g.,.1 9 3 7 A A O 104%b. 103% Apr. 106% Mar.
i N. Y. Lack. A W.—1 at, 6 s.. 1921 J A J 137 b. 136 Mar. 137% May
Construction, 5 a ............ 1923 P A 4 116 b. 116% Mar. 118 Jan.
N.Y. N. H. A H.—Con. deb. otfs. A A O 138
132% Feb. 140 Mar.
93%a. 88% Jan.
N.Y. Out. & W.—Ref. 4s, g.1992 M A S
96 Feb.
Consol., 1st. 5s, g ...........1939 J A D 110% 108% Feb. 110% May
N.Y.Sus.A W.latref.,5s, g.1937 J A J *101%b. 100 Jan. 103% Jan.
70 a. 69 Apr.
Gen. 5 g .............................1940 F A A
74% Jan.
Midland of N. J., 6s, *...1 9 1 0 A A U 117 b. 116% Apr. 119% Jan.
Nor. A W. Ry.—1st, oons.,4g.'9G A A O 68%b. 67% Apr.
74% Mar.
No.Paolflo—1st, ooup. 6g.l921 J A J 117 b. 113 Jan. 117% May
Prior lien, ry. A l.g. 4, g.1997 Q -J
88% Mar.
87»s
85% Jan.
53
General lien 3 g...............2047 y - F
56 % Feb.
51% Apr.
No. Paoiflo Ter. Co—6g___1938 J A J 99
99 May 110 Mar.
Ohio A Miss.—Con.s.f., 7 s .1898 J A J 105 1 104 Mar. 104% May
I Ohio Southern—1st, 6 g. ..1921 J A D 90 1 83% Feb.
90 Jan.
General mortgage, 4 g.,1921 M A N t 8 b.
8% Apr. t l 5 Jan.
j Oregonlmpr. Co.—Is t6 g ..l9 1 0 J A D t 87%b. 1 85% Mar. 90% Jan.
| Consol.. 5 g ....................... 1939 A A O t 15%
15 Feb. 119% Mar.
112%
|Ore.R.ANav. Co.—1st, 6 g .l9 09 J A
110 Jan. 114 Apr.
1 RR. & Nav. oonsol., 4 g.1946 J A D 83%
84 Feb.
80 Jan.
Penn. Co.—4iag, coup....... 1921 J A J 112 b. 109% Jan. 1127e Apr.
Peo. Deo. A Evansv.—6 g.1920 J A J 90 b. 97% May 101 Feb.
Evans. Division, 6 g ....... 1920 M A 8 92 %b. 92% May 106 Feb.
2d mortage, 5 g ................ 1926 M A N t 10
27% Jan.
tlO May
Pitts. Sh. A L. E., 1st, 5 g.1940 A A O 101 %
95 Jan. 102% Mar.
Pittsburg A Western—ig .19 1 7 J A J 66 b. 69 May
74% Jan.
Reading Co.—Gen., g. 4s .1997 J A J 90%
81% May
80% Apr.
RloGr. Western—1st 4 g ..1939 J A J 73%
70% Mar. 74% Feb.
St. Jo. & Gr. Island—6 g.,1925 M A N I 52 b. 147% Jan. 154% May
St. D. ASan Fr.—6g, C l.B .1906 M A N 112%a. 112 Jan. 115% Feb
General mortgage, 6 g ..l9 3 1 J A J I l l b. 108% Jan. 112% Feb.
General, 5 g ................
1931 J A J 96 b. 94% Jan.
98% Feb
Railroad, 4 g .................... 1996 J A J 64 b. 62% Jan.
66% Feb
65%
St. L. A So. W.—1st, 48, g.1989 M A N
70 Jan.
59% Apr.
2d, 4s, g., lnoome............. 1989 J A J * 22 b. 15 Apr.
28 J an.
St.P.M. AM.—Dak.Ex.,6 g. 1910 M A N 119 b. 116% Jan. 122 Apr.
lstoonsol.,6 g . . . ............ 1933 J A J 127 b. 123 Jan. 127 May
rediuoedto 4% g .. J A J 106% 102% Jan. 107 Mar.
93% May
Montana extension,! g.1937 J A D 92%b. 87 % J an.
59% Mar.
San.Ant.A A. P.—lat.4g.,gu.’43 J A J 57%
54% Jan.
90%
93 Apr.
So. Oar. A Ga— 1st, 5 g ...l9 1 9 M A N
87% Feb.
96% May
So. Paoiflo, Arlz. —6 g ... 1909-10 J A J 93 b. 90 Feb.
So. Paoiflo, Cal.—6 g . . . 1905-12 A A O *106 b. 106 May 108 Jan.
88% Apr,
1st oonsol., gold, 5 g....... 1937 A A U 8 6 %
85 Feb.
So. Paoiflo, N. M.—6 g....... 1911 J A J 105 b. 102 Jan. 105% 5fay
Southern—1st oons. g, 5a.1994 J A J 89%
87% Mar. 91 J an.1
89% Jan.
E. Tenn, reorg. lien 4-58.1938 M A S
86 May
E .T. V. AG.—1st,7 g .,.,1 9 0 0 J A J 1093ib. 107% Jan. 109% Mar.
Con. 5 g .......................... 1956 M A N 107% 107 Jan. 109% Apr.
A J 116
Georgia Pao. Ist5-6s, g.,1922
107% Jan. 116 May
A J 112 b. 112 Jan. 115 Feb.
Knoxv. A Ohio 1st 6 s,g .. 1925
A J 122%b. 117% Jan. 123 May
Blob. ADanv. ooo. 6s,g..1915
A J 114 b. 111% Jan. 114% May
WestNo.Carlst oon. 6s,g 1914
A A 69%
Standard RopeAT..lst,6g.l946
65 Mar. 79% Ja n .'
88% Mar.
Tenn. 0 . 1. A By—Ten. D .lst, 6g A A O 80 b. 80 Apr.
89 Mar.
Birmingham Dlv., 6 g . . . 1917 J A J 80 b. 79 Apr.
90 Feb.
Texas A Paoiflo—1st, 5 g . .2000 J A D 89
85% Jan.
23 Jan.
20%
2d, lnoome, 5 g ....... ........2000 Maroh
18 Apr.
Toledo A Ohio Cent.—5 g .. 1935 J A J 103 %b. 102 Mar. 108 Feb.
Tol. St.L. A K an.0 .—6 g..,191b J A D t 69% t66% May 175 Feb.
Union Paoiflo—6 g ....... ....1 8 9 8 J A J 1 0 2 %
101% Mar. 105 Feb.
95 Feb.
88 b. 85 Jan.
Ext. sinking fund, 8........1899 M A S
Collateral trust, 4hi.......1918 M A N 150 a. t49% Jan. 150 Jan.
Oollat. tr. 6s, g. notea... 1902 ir A A *101%b.
Kan. Pao.-Deh.Dlv.,6g. 1899 M A N ' 117%a. 113% Jan. 117% Apr
167 Jan. 178 Jan'
1st oonsol., 6 g . . . .......1919 M A N 1 70
Oregon Short Line—8 g.1922 F A A tll63a 1111% Jan. 119 Mar'
Or.S.L.AUt’hN.—Oon-,5gl919 A A O t 74 b. t63% Jan. t77% Mar.
37 Feb.
U.P.Den. A Gulf,oon.,5 g.1939 J A D 34 b. 33 Apr.
U. S. Leather—S. F deb.6g.1913 M A N 110%b. 110 May 114 E eb•
100 Jan. 103% M ar
Virginia Mid.—Gen.M., os, 1936 M A N 100
101% May 107% Jan.
Wabash—1st, 5 g . . „ ........ 1939IMA N 102
73% Jan.
2d mortgage, 5 g..... ........ 1939 P A A l 65 a. 63% Apr.
Deben., series B.............1939 lj & J 20%a. 18% Apr. I 25 Jan.
WsstN. Y . A Pa.—1st, 5 g .l9 3 7 J A J 107 b. 104% Jan. 107% Mar.
Gen. 2-3-4s, gold.............1943 A * O 45 b. 43 May | 50 Feb.
West.Un.Tel.-Gol.tr. 5 s ..1938 1 A 1 107s8b. 106% Jan. 108% Apr
Wlso. Cent. Co 1st 5 g ___1937 J A Jit 281ab. t28 May 1 40 Mar'
Mots . —‘ff>” Indicates prloe bid; “ a” price aiked; the range Is made up from aotuai sales only.
* Latest price this week,
t Trust reoetpts.
NiJiY YORK STOCK EXCHANGE PRICES—(Continued),— IN A C T IV E B O N D S -M A Y 14.
SECURITIES.
Bid.
Ask.
Railroad Bonds.
( Block Exchange Prices.)
Alabama Mid.—1st,g^, guar..1928
A oh. Topeka * 8au Fran.—
laloago & St. Lou.—1st. 6s. 1915
Ool w1d. 1st, g.. Bs. asstd..1936
tlan. & Danv.—1st, g,, 5s . .1950
A t , t Pao.—2d W. D., gu. 6s. 1907
Western Division lnoome.. 1910
SECURITIES.
Bid.
Ask.
102
W Va. A P itts.-*«t,g ., 5s.. 1990
B. A O. 8 . W., 1st, g .,4 % s ...l9 9 0
Monon. River, 1st,g., g .5 s ..1919
Cent’l Ohio Reor.—lst,4% 8.1930
Ak.dfeCh. Juno.—l8t,g,5s,gn.1930
Brooklyn Elevated—2d, 5 s ...1915
1 Seaside A B.B.—1st,g.Ss.gu.1942
SECURITIES.
Brnnswlok * W’n—1st, g., 48.1938
Buff.R.A Pitts.—R.& P.1st,6s.1921
Rooh. * Pitts.—Oons.lst,68.1922
Clear.* Mah.—1st,gu.,g ,5s.l943
Buff. A Susqueh.—1st, 5s, g .1 9 1 3
*97
Burl. Ced.Rap. A No.- 1st, os. 1906
Consol. * oollat. trust, 5 s ..1934
*98% 1 0 6 "
Minn. A St. L.—1st, 7s, gn. .1927
Ced. Rap. I. F. & N„ 1st, 68.1920
"43% 4 4 %
1st, 5s...................................1921
68
Balt. & Ohio 1st, 6 s, Park B .1919 *1097e
90
5s, g o ld ....... ...........................1925 A
Bid.
Ask.
126
121
122
106
*107^ 108%
*103
*104
103
102 105
IHfc CHKONICLE.
y u
new
s fu a it n r u o n
KSLCl
I * H I t ’ K ! i — I . V . - l O T /VB
aid.
AifcJ
SECURITIES.
•lit URi r iK * ,
BO\TD3~rContimiiJ - HAY
Bid.
Ask,
. . . . . . ’ Krts—(C o n .)—1st.
K 5 * ....1 9 0 9 ‘ 106
93 i
vt*i « n it - a#.. ..................1922 •103
Oot>V a ! U,lit., 1st 6s, our’o>y. 1913
*27%
1 2 % tst»n». I T . B . - l d , c o o * .,68.1921 i u T lift
73
*4 e*ofte*l,
5* ................ 1942 *68
; K hVensoo 1*1 « * ................... 1923
Hot Co. Br. 1st,
5*...........1930 .........
.....
86
E -Ait*. A Indian.—1st, oon*..1926
....
102 W 103L M in t A P. Marti.—M ort., 6*...192 0 m o
1 0 1 % 1 **2 % 1st, oon, *o$d, 6 b . . . . . . ......... 1939 *781*
IO I# 10 2 %; PI. Huron Dtv.—1*1, 5 a ....l9 3 B *73
. . . . . . iria . Cod * Pan.—l e t s . 5*.. ..1 918
UOl
tst oon. ss, 5 * _______ .......1 9 4 3
1st. 1.
I xt. g., 5s................ 1930
39%
Ft. St. V o, Dep.— 1st, R., 4U# .1911 106 *a
48
10 2 % 103%
t. worth A K. G.— 1st g., 5 8 -192 8
. . . . . Gat. Il.tr, A San A n t —1st., 68.1910 102
no
2tl mort., 7 * .......
..... .1 9 0 5
88
....
Cla. A Ala., 1st, prof., g 5*. .1915
......
Gii. t Ar. A hor.—la l, git. 5a, g,1928 101
105% !Hoa*atonlo—C om . gold 5s.. ..1937 120's
N. Haven A D erby, Co»iB.5«..191»i
.......
Hou*. A T er. C.—W’aooAK.78.1903 125
...... 100
l»t g., 5* (tnt. gtdi................ 1937 110
.....
Cone, g, 6s (int. gtd>.............1912 101 103
Debent. 6*, prln. A int. gtd.1897
Debent. 4*, prin. A int. gt4.1897 *95
O
k
.
S
**•»DHnot* Central—1st, g., 4 s ... 1951
Ckksute A AKua—B. P.. 6 s— 1903] 112%
1st. gold, 3*-a*........................ 1951
Lost*. A Mo. (a ver—1 « , 7*. 1900 109
Gold 4*....................................1952 101L|
*4. 7 *...................................1904 it 5
* 2-IO.k ., I s .............................. 1901
S t I.
A i ’M c . - 24, 7» 1S98
Cairo Bridge—I s ................... 1950
M at It 6 n . t w - m , i , I.,6*.191S 1C4 107
%
Spring!. Div.—Conp., 68----- 1898
Chle itorl. * Kor.—l o f , 1326; 1< 3%
Middle Div.—Beg., 5*......... .1921
Oslo, B arling.■* Q.—5*.*, f . . 1901 1 $02
lo w * Dtr.—Sink. fund, 5 * ..1 9 1 1 1*107
C. 8t. L .A N. 0 .—Ten 1.,7 s . 1897 101
1st, consol., 7s................. ..1897 101
S l n l , . - t f u c d , 4 « , 1910; 99% 100
Gold, 5s, co u p o n ................1951 123
Rftte, * «................................. 1931 j 89
Metur, Div., la t e , 48........1951
Chit-sun A iuvm Div.—5«...19©5i
lo o t*
BellV.A So. 111., gu>, g „ l>as.l897 *98
Cftlc. ft l a d u u C o n i —1*1 5*.1936
Oed. Falls * Minn.—1st, 7a. .1907
Cal- MIL A S t P.—1*1, SeJP.D.1898 •105
ijS * Ind. D. A Spr.—1st 7e, 1906, trust
2 5.7 3-10*. I’ . D .................. 1888r
lit , 7*. 8
1902. 131
recta., ex bon ds............................
104
. M ' ..............
1*97 ....
Ind. Deo. A (V.—le t, g., 5 s ...-1935
Ind. ID*. A. Iowa,—1st, g, 4 s ..1939
IH, 1. % D. .7 * .....................1S99 •------ 133
I t : ,C. * M „ 7*.....................1 903 *130
1st, ext., g, 5s........................ 1943
31%
30
l i t , I. A I). SXtMMlOB, 7 s .. .1908 184% 1 S T Int. A S . N*d.—3d, 48, g ........ 1921
42
KlngeCo.-F,El.,l8t,5,K.,gu.A.1929
40
1*1, U f . A D*v., 5*.......... UUP ‘ 112
I t ;, 11 A 0 .. 7 * .......................1910 12*% ISO's Lake Erie A West.- 2 d g „ 58.1941 102 %
102
108%
North'n Ohio—1st, gn. g. 58.1945
;
12 2
C i 'c r o A V*cSHr DIV., 6#.. 1910] 121
L 8. A M .8 o n .-B ,A E .—New 7*.'98 104 104%
Mil pra f*©iat Dtr 5 * . . . . . . . 1910 106
Det. M. A T.—le t, 7s............ 1906
C. * L. Sup, Ptv.. S*............1921 110 111'
Lake Shore—Dlv. bonds, 7s. 1899 107
P a r ,... A Beotia,, 6t. A«*u.. . 1024 l i 7
Kal. All. A G. B.—1st gu. 5s.1938 *114
li e . «3 c t , *lak rutid.
I « I 6 l<5 110
Malion’g Coal l>a.--A
B E .—1st,
OL-. W
58.1934
O.AGMW 120
U«kot* A «*. Booth., .V ....1 91C 111%
95
Lehigh V..N.Y.- 1 s t gn.g.4% a.i;)40 *94
MIL A Bor. mftlD Uo<—~i *. ..1910 120
Lehigh V y O o a l-le t5 8 ,g u .g .l9 3 3
Cate.A Nor * ,- 3t>->e*rdel..5e.t 921 ’ 111 I l l ' s Lehigh & N.Y.—let, gu. g. 4S.1945
93
' | 4 L « . l«t,e * ....lS-----K »l- i l l
mlrtiC.&N.,lst.g.l6tpf. 68.1914
tl»« M A Mltm.—1 « . ? * . . ..1 907
........
Guar., gold, 5s..................1 9 1 4
I n t M i d l a n d - l i t , S » „ ___ 1900
....... idtehf. Car. A W est—la te * , g.1916
OMe. A M fi«aaiks*~1*1, 7*.1898 101
Little Bock A M.—le t, 5e, g ..l9 3 7
Win, A B L P.—Sd, 7 * . . . . . . . . 1907
130>* Long Island—1st, 7 s ...............1898 103% 103%
M I L A M * -!.-!* !. 6*.............1905
84
Ferry, 1st, g., 4%*................ 1922
83
Or. l r , a »t, I*. —l*i, 5*. istou u»7H
Gold 4s....................................1932
BetrUmrn I1L—l*t, 5* . , ____ 1910 I u 7 % .......
N. y. A B'way B.—l* t ,g . 58.1927
98
MIL l - ft.AW.—C W t4 «b „5 * .i»0 7
2d m ortg., Ino.....................1927
42%
35
Mies, P iv,, l*t, C#„........1 9 2 4 ISO
N. Y.B.AM. B.—1st oon. 5a,g.l935 105% 106%
At
■ , i' . • > - 1-- •- : >, : 123
BrookrnAMontank—let,6s. 1911
Cb.lt-1 * 1 - D M.AF. D .l*t 4* 190S
Int, 5 * .................................. 1911
1*1, 2%*.............
1905 *621*
No. Shore Br.—lstco n .5 a ,g .l9 3 2
8 x tM w k», 4*..................... 1905
Lonl*.EvanB.A8t.L.—Con.5a.1939
Keokuk A Oft* M.—1*1,6*.-1923
104
Lonts. A N ash .-C ecil. Br. 7*..1907 105
Oiio-St. P .A Mian.—l* t ,6 * ...1918 1 2 9 % ____
E. H. A Naalt.—1st 6e, g ___1919 114
FftBl A « . a —1 *1 . 6*........ 1919 ISo
Peneacoi a Division , 6 b......... 1920 100
CliO.
W. !'V . - I f , *. f., L- 1:<1it
8L Louis Division, 1st, 6 s ...1921 119
Oer*r*l M r t n * e , 6* ....... ..1 9 3 2 119
2d, 3*....................................1980
0 « 6 A Wets. M n k - 5 * ........ 1921
Nashv. & Decatur—1 at, 7 s .. 1900 109*
117
8.
H. A. N. A la............. 1910
id . *•. .!, «% * ..........................1937
50-year 5*. g ...........................1937
97
It. * I f f —1 *1. Ptl. 5*. (*.1911 107% . . . .
Pen*. A A t .- 1st, fls, g old. ..1921
98
95
I;Sly A Boh. « $ * » ,) - H I , g „ 5* 1922
Coliftt. trust, 5a, g ................ 1931
0 * * A *. A M # ,~ E e ,A . ‘I 6*. 1940
L A N . A 5I.AM.—Iet,g.,4% al945 104%
c l e f .ftc*n.~ Tr.ctl*. lor 1*t-'<». 1017 *68
N n8h.H or.A 8.-lB t, g u „ 6 s .1937
84
a c t ABC U —Gen., (f. 4»..lHt»3
8o, A No.Ala., oon. gu. g,, os.1936
Cairo (Utrillos,4*_____ .....1 9 3 0
90
Kentucky Coutral—4s, g .,.1 9 8 7
86%
8t.ttB*.AOoU>tv.—l* t,g .* ». 1940
L. A N .—Lou.C.AL.—g. 4 %b.1931 105
Whit* W .¥»LDSv,-l*t,[t. 4s. 1940
Lou»AJeit.BdgeCo.—G u, e ,4 b 1915
75
87 M 80
C!0.« » ! t A M . I « V . 1901
Lou.N.Alb.ACh.—Gen.m.g.58.1940
43
a » . I 8 L l~ A a - ln ,* :.,4 * .1 9 3 6 100
Mcruphf* A Chari.—Go, g o ld ..1924
OotKtl , 6» ...........
1820
Mexloan Cent, Consol— Is, g.1911
(S c J u i ACL- •Wn.Ut.g.5*. 11(28 ioiV
l*t, oon*. Inoomo 3e, g.........1939
IndUn* B. A W ,~ 1*1 pl.7*.1900 1071*
.. Mexican National—Itrt.g., 6 b 1927
Ohio
l » t ptm , 5*.. 1938'
2d,lnoom e, 6*, “ A” .............. 1917
P ft.r A K**L—Income 4* .. 1090
15
2d, Inoomo, 6 s ,11B ” ............. 1917
0 .0 8 4 ClB. A le d ,—l* t, 7*,*. 1.18 00] 105%
Michigan Central—6*.............. 1909
OrttejKti, sink, fond, 7 * . . , . . , . 391ft' . . . . . .
Coupon, 5a...............................1931 119
He^ABpr.— 1 sLC.C.C.Ai.7*. 1801 j* 107
Mortgage 4 b ........................... 1940 103
(3« tr . Laraift A Wh.—1«L 54.1833! *08 100
B ftL C .d ategli.-lat,3 »,g. gu.1989
<5*»* A K .l: - V.- Gold, B*.. .1938 .........
!
l»t,| 7s ........ 1927 142 150
M L UMk. A W. Hurt. 7 *___ 1807 *127
Iowa Extension, 1st,7a.......1909
*rr*. m s*. A
741800 *1*5 128
South west Ext .—1 at, 7 b........1910
M cirU A K »**x- 1 * 1 ,7 * ...1 9 1 4 142
Pacific E xt.—let, 0 » ............. 19 2 1 121 %
Bond*. 7*........
...1 8 0 0 u m 112
M" K.A T e j.r l» l , o x t , 5 b, g.1944
7 » o f 1 8 7 1 ........................ 1901 |13
Mo.K.AT.of Tex. 1st,gu,5*.g. 1942
72
1 * 4, eon.. * u * r„ 7 * . . . ........1915 * l t t s
H K*n*ft* City A P ., 1 a t,*»,g ..1990
66 70
t m a -24, 7*
19Q0] 109
Dal.
A
Wftoo—l*
i.
5a,
g
u
..,.1
9
4
0
73
0 *11.< * &- - 1 ' f c l / i v . . 017: J4S
— * Ml nsour I Paolflo —Trust 5a 1917
H k t k u f A 83*8 —1*S»*b»,7*,1.80«! 122
”42%
42
112
m
"
M
.lit A
1 US#
ifrmt* Mt. ot CNk."**
1 *1 , ppe f
.w .l M S
-4 r r :■?
Its* ®« . , . . .1045
M \ fv Ifeec.ifc*'
lv»45
%g** ,4 Sftf T%1 r.. 1 mi. # ..$ §,
ti,
IW
fw ',, ..
.tftb..6* - 10 tM*
.,^#44 t K o a *t
k i t *. 5«. Mirtrw 1 8 C D . . 1 898
Ovid 5* v t : . » K .......... .
1899
iatii J ■»-4■ii is Br», 6-*,»»***.*., ItHK)
m . i B h ka~ .................... u»:>9
l
gr*v *
f
. . . . 1900
fia*i. Jk. fi. imp.. » i ! „ sr. 5#» ,.1918
f . t PxeUSe-lBond*. 6 * . . . . 1899
He. SaOway iCw’.t—l* t . 6*.1907
ft*
____. . . . . ...1 9 3 8
If,*
CXi-kt d;
I* e. g , ' 7i*. 1 9 3 6
j* 1
pn*. h . (and. 0 «.189t
0;*1* V »«*T —1 st, g., 5*— 1940
**0.7 T ft i, 1 *1, c,
, IN I
KB*. L A 8 tg # a iid y -G , 5*. 1992
LK*Si Ba. B m t.—l i t 6s, g.1911
102
112
A
t
';
1 ■ ■
m
il4*%
124
■foT
105
'103
108
Hiv..i, g,, gu.1922 105
....1 9 2 #
N. Y. A P u t—Int, g, 4*.gu.lW93
-...1 9 2 0
N. V. N. f t . A H.-lat,’r eY,!O903
-----1910 '137% 138%| *»• V i V® «d b e rn -U !. ^ 5 * . . 1927 121
io o « *i<!2 i........ i 8 \ . *M-|. A Wa*t —4(1. 4 l,a . 1937
? ',t la t e n t y u I t . t i u n i * m a d e lt d * u n o * .
Pnr
r|
[V O L . L X I V
105%
107
123%
II.
aEOUKITEES,
Bid.
N.Y. S. A W .—Tor, let,
5 «..1 9 * 8 105
WIUl A E a st.-let,g td .,g .5 a ,1942
89
Northern Paeillo—
8t.Paul A N . P.—Gen., 6 a ..1923 *127%
Norfolk A South’ n—1st. 5s.g.l9 4 1 103 106
N o r fo lk * West.—General, 6e.l931 121
Now E lver 1st 6*..................1932 118 120* '
Im p. A E xt.. 6 s . . . . . ...............193'
Col. Conn.&T6r..lst,gu.g,5B. 1922
Ohio A Mias.—Consol. 7 *........ 1898
2 d eou sol, 7 e.......................... 1911
117%
103
Sjirlng.Div,—1st 7*................1905
General 5s............................... 1931
Ohio R iver RK.—1st, 5a..........193(
102 %
Gen. g „ 5 » ................................193' ‘ 94%
Omaha A St. I.oulfl.—I bL 4 *.. 1937 '48
"5 4 “
Oregon A Califor.—le t, 5s, g .19 2' *68
Penn-P.C.C.ABt.L.Cn.g.4%8.410*
U 9%
Do
do
Series B 1942 109%
Do
do Series C 1942
107
Do
do
Series D, 4s, 1945 *99
P, O. A8.X»,-lst,o, ,7 a ................ 19U- 1 10
Pitts. Ft. W. A 0.—1st, 7 b. . . 1 9 r. 137
2d, 7 a ...................................1911 136
3d, 7a.................................... 1911 130
Oh.St.L.AP.—1st,oon .58,g...1931
Otov. A P .—Cone., b. Id., 7*.190( 109%
Gen. 4%a, g., “ A ........... 1941
Do
do
Series B 1942
St. L .V .A T .H .—I * !,6 s .,7 a .ls 9
2d, guar., 7 s . . . .................. 189S 100
Gd.R. At. Ext.—lat,4%*.G. g. 1941
Alleg.Yal,—Gen., gu., 4s, g.1942
N . &C n .B d g.,gsn .gu . 4 %3 .g .l 945
Penn.R R .—1st real, est g. 4s.lP23 108
Cle.A Mar'ta—lst,gu.g.4% s. 1935
D . klv.R K .A B dg—lst.gu .g.4s,’ 36
Peoria A Pek. Union— 1 st,, 6 s .1921 115
2d m ortg., 4 % s....................... 1921
76% 80
Pitts. Clove, A Tol.—1st, 6 s ...1922
Pitts. A L. E r.—2d g. 5s, “ A " . 1928
Pitts. Mo. K. A Y .—1st 6b....... 1932
Pitts. Painav. A P.—1st, 5 s . ..1916
Pitts. Sken. A L. E .—
le t eonsoL 5s.......................... 1943
Pitts. A W est—M. 5s, g.1891-1941
P itts.Y 'get'nAA .—1st, 5s,oon.l927
R io Grande So.—1st, g., 3-48.1940
St. L. A. A T. H .—Term. 5 s ..1914 105
Bellev. A Car-—1st, 6 a......... 1923
Chi.St.L.APad.—Iat,gd.g.5 sl917
St. Louis So.—la t, gdf. g. 48.1931
90
do
2d incom e ,5s. 1931
Car. ABhawt.—lat g. 4s___1932
St. L. A 6 . P —2d 6 s ,g ., ol. A . 1906 112 1 1 2 %
2d, 6 s, g., olass C .................. 1906
112 %
1st, trust, gold 5s............... 1987 *84
Ft. 8 . A V .B . Bg. —1st, 6a ... 1910 100
St.L. Kan. A S.'W.—1st, g ., 6s. 1916
St. Paul City Ry, oon . 6s, g ...l9 3 7
Gold 5s, g u a r ..................... ..1 9 3 7
St. Paul A Duluth—le t, 5s___ 1931 109
2d m ortgage 5s.......................1917 101
St. Paul Nunn A M .—2d M, 6 s. 1909 120%
Minneap. Union—1st 6s ___1922
Mont. Con.—1st, guar., 6 a ..1937 i l 9
1st guar. g. 5 b..................... 1937 105% 108
East. Minn., 1st div. 1st 5 s .1908 106%
W "u arASiouxP.—1st, g ,5s.l9 38 107 i o i *
San Fran. A N. P,—lat, g., ns. 1919 100
Sav.Pl.&West. -1 s t , eon. g .6s.l9 34
Seaboard A Roanoke—1st, 5 s .1926
aeat.L.S.Afiast.,lBt6s,aaBt,.pdl93L
30
Southern—Ala. Cent., le t ee.1918
A tl. A Char.—Incom e, 6s. ..1 9 0 0
Oolum. A Green.—1st, 5-68.1916
E. T enn .V. A G a.-D iviB .58 1930 113%
Rioh.A Dau.—E q. o. t g. 58.1909
Debeu. 5s, sta m p ed ......... 1927 ” 97* 103
Vtr*a Mid.—Serial ser.A , 68.1906
Series B, 6 s.......................... 1911
Series 0 , 6 s .......................... 1916
Series D , 4 - 5 s ..................... 1921
Series E , 5 s .........................1926
Series F, 5s...........................1931
Gen., 5s, guar., stam ped .1936 100
Wash.O.AW.—1st our.gu.4s.192l
Ter. As'n of St. L.—le t, 4% s,1939 10T
109%
1st, oon, g. 5s...............189ad 944 106% 107%
S t.L.M er.B r.rerm „g.5B ,gu..l930
Texas A N ew Orleans—1st,78.1905
Saolno Division, le t, 6 b ....... 1912 '106
Consol. 5s, g ..................
1943
Tex. A Pao., E. D.—la t, g. 6s.l905
Third Avenue (N.Y).—lBt 5s, 1937 122% 123
T. AO. 0 .—Kan. A M., M ort. is.1 9 9 0 * ___
75
Tol. Peo. A West.—let, g., 4*.x917
e‘ 6
63
Ulster A D el.-lB t,oon .,6.,5B .1 928 100 101
Union Paoiilo—1st, 6 s ............. 1896 ...... 102%
1st, 6s .......................................1897 ...... 104
1st, 6 b...................................... 1899 *102=8 ......
Collateral Trust, 6 s.............. 1908 *101
Collateral Trust, 5 s .............. 1907 ■70
Kansas Paolflo—1st 6 u, g .,.1 8 9 5
, Ill
1st, 6 s, g ............................... 1896
114
O. Br. U P. - F . o., 7s.......... 1895
Atoll. Col. A Pao.—1st, 6 s ...1905 * ' ' r "2 5 ~
U. P. Lin. A Col.—ls t .g ., 5s. 1918
Utah A North,—1st, 7 s........ 1908 115 _.r__
Gold, 5a................................ 1926 *100 ____
Utah Southern—Gen,, 7s ..1 900
__ T 75
E xten., 1st, 7ft....................1909 ‘ 74% ......
Wabash—
Debenture, Sor. A ................ 19 39
Debenture, Berio* B ............ 1939
20%
Dot. A Ohio, Ext. 1st, 5fl, g .1940
92
St L.K.C.AN.—8 t.C,ildge 69.1908
West N.Y. A Pa.,gen,g. 2-3-4s 1943
45 T~ 48
Incom e 5 s ............................... 1943
13
W est Va. O. A Pitts.—1st, 6 s .1913
W hom .AL.E.—1st. 5g, g o ld ... 1926
91%
W heeling Div., 1st, 5s, g .,.1 9 2 8
95
Extrusion A Im p , g., 6 *.___ 1030 .........
W1«. Cent, inoom o 5». . . ..1 9 3 7 ......
n o o n * H o m l * —S e e 31 p a g e p r e c e d i n g
■ 112
n1
THE CHRONICLE,
Ma t 15, 1897. |
J m restw ew t
AND
R oads.
945
L a tes t G ross E a r n in g s .
W eek o r M o
1897.
1896.
I Jan.
1 to
1897.
L a t e s t D a te ,
1896.
$
I
Ind. 111. A Iowa. March___
77,531, 61,501
205,058
55,820
In. A Gt. North’ d istwk May
48,546 1,180,214
tlnteroo. (Mex.)j Wk. Apr 24
823.339
51,004' 44,337
3G.272
512.081
30,030
Iowa Central... IstwkMay
Iron Railway.. April.......
12,508
2,3541
4,161
Jack. T. A K. W. March......
87,532
30,731
32,5o8
R A IL R O A D
E A R N IN G S .
Jamest’nAL.E. January...
2,313
2,313
IstwkMay
154,805'
165,284
9,706
8,365
** The following table shows the gross earnings of every KanawhaAMicli
K.C.F.Scott AM. 4tliwk Apr
86,425 1,464.448' 1,419,535
92,879
steam railroad from which regular weekly or monthly returns K.C.Mem. A Bir.iithwk Apr
4-00,630
23,837
23,420
375,048
115,653
can be obtained. The first two columns of figures give the Kan. O. N. W----April.........1 23.930! 18, 36
85,038
74,555
2,267
5,026
33,145
gross earnings for the latest week or month, and the last two Kan. City A Om. 4th wk Apr
583,384
K.
C. Pitts. A G.. 1Istwk 45,7211
May
210,31
2
12,813
columns the earnings for the period from January 1 to and Kan.C. Sub. Belt Istwk May
127,225
90,510
S.ie'"
9,120
including such latest week or month.
6,552] 10.347
Keokuk & West. 4th wk Apr
138.335
114,518
25.642,
5,300
22,964
4,661
The returns o f the street railways are brought together sep L. Erie All & So.!April.......
56,154' 60,lo7 1,118,516, 1,18 4.782
L. Erie & West. ;lstwk May
arately on a subsequent page.
105,703
31,104
Lehigh A Hud.. April..
24,073
124,983
44,675
17.815
17 547
Lex’gton&East. March.
49,689
L a te s t G ross E a r n in g s .
J a n . 1 to L a t e s t D a te . Long Island . . . . 1April..
894.430
273,934 290,728
921,947
ROADS.
7.414
22,443|
Los
Ang.
Term
April..
7,1501
31,269
1897.
1896.
W eek o r Mo
1897.
1896.
453,879
Louis.Ev.ASt.L IstwkMay
487,759
28.903
23,398
c
l
0,007
]
40,473
Lou.
H.
A
St.
L
.e 4thwk Apr
142,703
el0,628
$
IstwkMay 368,750 372.345 6,802,236 6,792,573
55,813,
46.460 Louisv.ANashv.
20,2751 18,197;
Adirondack...... (March.......
& Birin.. April
20,294
2,547
20,238
3.373
Ala. Gt. South.. IstwkMay 25,675 25,498! 526,771! 482,887 Macon
42,421
9,013
34,990,
Manistique......
5,897i
April
Ala. Midland ... February . 62,405 54,808, 134,086 119,031 MemphisAChas 4thwk Apr 37,440
427,621
415,777
33,223
Ala. N. O.Tex. A Pao. June.
Cent..'istwk May 258.239, 180.039 4,635,173! 3,465,816
436,697
N Orl.AN. E. April.......
97,942
84,145
432,983 tMexican
809,874
742,467
Mexican InterT.{March...... 291.658 262.814
197,635
180,800 {Mex.
Ala. & Vioksb. 1April.......
40,643
37,0 5
83,939 2,005,313' 1,668,071
National.
IstwkMay 104,580
182,101
168.565 Mex. Northern. March......
Vicks. 8 h. A P April.......
33,817
34,385
78,492
167.C20
57,706;
227,669
531,763
Allegheny Val.. March...... 185,043 201,321
561,861
74,000| 58,000 1,159,500
way Wk.Apr 24
965,000
440.494
338,366 tMexicanR’
Ann Arbor....... lstwkMay; 21,272
21,973
241,571
15,420
20,097
Mexican
So......
4th
wk
Apr
ISO,356
15,291
16,385 Minneap.&St.L. IstwkMay
Ark. Midland... February .
7,352
7,883
584,991
626,274
32,235' 31,556
Atch.T. A 8 . Fe. March...... 2,543,470 2,274,663 6,973,509 6,968,278 M.
74,694| 60,208 1,052.287 1,107,539
IstwkMay
Atlanta A Char February
142,969 128,742
287,608
256,168 Mo. Kan. ASt.P.AS.St.M.
Tex. istwk May 180,186 167,924 3,694,313 3,876,292
146.927
137,423 Mo.Pac.AIronM
Atlanta A W. P. March......
45,241
40.529
IstwkMay 385.000 368.0u 7.479.000 7,310,730
186,124
Atlan. ADanv.. IstwkMay! 12,462
12,641
193,961
345.00"
237.920
9,00t
16,00"
Central
lir’ch.
IstwkMay
580,711
Atlantic A Pac. - February . 302,260 291,299
5-4,781
Total........... IstwkMay 40 1.000 377,001 7.824.000 7,548,650
15,442
13,532 Mobile
AugustaBoat’n February.
8,749
8,130
97,66
i
85,331
4,663
5,502
A
Birin..
3d
wkApr.
18,243
19,614
Austin AN'west March......
53,832
53,0301
272,0:3, 273,462 1,245,306 1,151,222
& Ohio.. April..
108,505.
Balc.Ches.AAtl. April.......
32,700
35,553
112,777 Mobile
463,526
Mont.
&
Mex.
Gif
April..
38^,067
90,896
107,03
J
I
Balt. A Ohio.... March...... 2,100.467,1,916,268 5,828,679 5,272,205 Nash.Cli.ASt.L. April..
373.030 1.642,466 1,660,910
Bal. A O. Sou’ w. LstwkMayj 109,514 108,904 2,014,731 2,101,137 Nel. A Ft. Sh’p’a February . 393,229
5,000
19,129
9,247
9,375
169,272 Nevada Central. February
194,968
Bangor AAroost March......
5.486
1,911
3,638
2,811!
1,925
1,852
Bath A Ham’nds March......!
13,638.233
13,696,759
3,412.84
N.
Y.C.
AH
.
R..
April.......
3,504.808
1,700
1.651
7,047
Bir. A Atlantic. April....... I
7,213 N.Y.Ont.AW.. IstwkMay
58.7 *7 1,169,093 1,113.799
60,271
88,720
Brunsw’kAWest Fe miary . I 37,828! 43,412
96.022 N.Y.Susq.A
48 -.793
488,931
W.. March...... 162,517 166,268
Bull. Koch, a Pitt lstwkMayi 63.02 11 60.773 1,048,589 1,043,425 Norfolk A West.
IstwkMay 229,157; 237.805 3,560,673 3,947,694
120,803
Buffalo A Susq.. iMarch......* 48,*59i 37,473
106,014 Northes’n (Ga.). February
12,860
11
177
6,855
.
5.743'
81,700; 95.492 1,189,335 1,414,7 2
Bur.C. Rap. A N. 4th wk Apr
Central March___ 505.9411 514.957 1,580.458 1,468,944
OanadianPacitic IstwkMay 425,OOv 353,00' 6,139,963 6,112,563 Nortk’n
4,912,910
5,236,L12
281,344
North’u
Pacific
!
istwk
May
317,825
19,591
2,609
Car. Midland... April.......
17,036
2,538
5,892
6.416
2.936
3,490|
A West.; February .
77,048' 71,814 1,799,120 1,854,333 Oconee
Cent, of Georgia Is' wk May
324,729
290.461
River....... Istwk May
21.784' 2l,6l8
Central of N. J . March...... 1 893,214! 934,019 2,59 7,369 2,765,166 Ohio
52.589
55,079
17,730
18,762
Ohio Riv.AChas March......
Central Pacific March. ... 1,002,729, 953,150 2,665,8 *3 2,689,889 Ohio
213,449
25 L,996
53,097
59 874
Southern.. April.........
CharlestonASav. February . 1 69.913
69.913! 67,873
134,899
121.351
27,287
27.287
Valley...... January..
Ohes. A Ohio.... IstwkMay 174,228 192,917 3,797,592 3,551,460 Ohio
471,165
457.470
226.960
Oregon
Imp.
Co.;
February
214.783
Ohio. Bur. A Q.r/|March...... 2,995.739 2,742.142 8,437,829 7,904,162 Oreg. RR. A Nav.!a pril......
315,375 275,935 1,179,319 1,227.509
Chic. A East. 111. Lstwb May
79,389
64,590 1,387,317 1,401.317
999.327
413.8911 351.9 >7 1,133.779
Chic. Gt. West’u Incwk May 110,136 102,319 1.506,863 1,565,588 Pacific Mail...... March......
March...... 5,064.732 5*253,932 14,306,637 14.893,737
Chic.Mil.ASt.P. IstwkMay; 539,187 538,416 9,209,469 10,289,660 Pennsylvania.).
295,822
296,613
Peoria
Deo.
AEv.
istwk
May
13,776
15.708
Chic. AN’thw’n. March...... 2,373,266 2,616.743 6,676,233 7,448,284 Petersburg....... March........
137.190
141.440
49,499
52.796
Ohio. A No. Pac. March......j 69,389
66,022
214,473
204,332 Pliiia. A Erie__ March........ 290.621
811.385
826.050
275,608
Chic.Peo.ASt.L. April....... ! 64,988
76,453
268.480, 317,833 Phila. A Read... March...... 1,548.482 1 594.369 4,581,042 4,753.493
Ohic.K'k l.A P . April....... 1,120,714 1,161.051 4,449,849! 4,737,147
Coal A Ir. Co.. March...... 1,256 099 1,603 747 4,460,360 4,96 L,539
Chlo.St.P.M.AO. March...... 556,544 584,686 1,618,103 1,759,234
Tot. both Co’s. March...... 2.804,581 3,198,116 9,041.402 9,715,032
509.263
503,069
Chic. AW. Mich. Istwk Mav
27.7431 26.430
133.401
158,298
57.717
48.575
Ph. Read. AN.E. March. ...
304,219 Phil.
Choc. Ok.A Gulf March. . . . ' . 1 79,117
73,603
280,348
Wilm. A B. March._ 77 1,707 672,707
13,580 Pitts.C.C.ASt.L.
Olu.Ga. A Ports. March___
4,156
4,721
12,049
.1,210,284
3,624.055
3,289.926
March...... 1,136,233
233.360
Cin.Jack.AMac. IstwkMavj 12,084
11,278
239,468
13.934
15,6*8
3.600
April.......
3.777
Oin.N.O. A X. P. April....... 298,300 263,116 1,113,799 1,087,193 Pitts.Lisb.AW’n
157,699
188,727
48,610
47.632
A p r il......
17,652
21,553 Pitts.Bes.AL.E.
Oln. Ports. A V. January...
17,652
21,553
528,966
489,916
35.951
Pitteb.
A
Wes’n.
IstwkMay
28.268
19 ',387
196,875
Clev.Can. A So.. 4thwk Apr
16,855
20.325
241.334
18,283
27 L,060
14.501
Pitts. Cl. A Tol. IstwkMay
Cl.Cln.Ch.ASt.L 4tuwk Apr 342.530 318,803 4,150,531 4,099,479
72,927
77,337
8,696
5.279
294.289 j Pitts. Pa. A F. Istwk May
Peo. A East’n. February . 137,249 139,490
262,650
809.384
62.930
882,297
48,048
Total system.. Istwk May
396,094; 435,178
OLLor. a Wheel. IstwkMay
23,655
27,950
233
413
195.72
L
90.951
81.124
Pitt.
Young.
A
A.
March_
_
Col. Midland.... April....... 1 139.390 160,725
528,051! 607,746 Quincy O. a K.C. April......
99,725
92,343
24.5971 27.582
830,068 Rich.Fr’ksh AP. March__
711,766
CoL H. V. A Tol. April....... 187.o04 214.011
171,698
162.815
62
Oa
1
64.266
22,778
CoLA Red Mount February .
11,552 ...........
83,214
78,494
29.956; 28.572
236,276 Rich. A Petersb. March__
240,558
Col. Sand’y A ti. Aj>ril....... 1 64,465
51,743
147,741
8,005
112.245
6,711
5,300
3,500 Rio Gr. South’n. LstwkMay
Oolusa A Lake.. April....... !
1,50b
800
36,200
726,324
748,345
34,300
3,338 |Rio Gr’de West. Istwk May
2.024!
OryBtal............ March........|
1,045
1,144
92,183
92,148
22,809
19.173
164.720! 184.869 St.L. Ch.A St. P. April
Cumb’ l’d Valley March......
58.861
63.968
16,743
2,237i
April
Denv. A Rio Gr. latwk May 123,500 127,100 2,116,844 2,322,753 St.L.Keu’etASo.
1.491,311
1.414,333
515.0L5
520,755'
Bt.L
ASan
Fran.
March......
Des M. A Kan.C 4thwk Apr,
3,050
3,363
37,180
46,467!
70.200, 73.000 1,495,900 1,621,648
Southwest Istwk May
127,157! 146,000 SLL.
Des. M. N. AW.. April.......
30,224
32,055
391,237
379,187
99 650
102.015
371,433 St Paul A Dul.. April..
DeLG.Rap.AW. IstwkMay, 21,457
22,557
403,073
425.246
397,670
141,904 126.369
Ant A A. P . 1March.
127,323
Det.A Mackiuac March......
53,724
48,391
13 L,038 San
202 433
194.438
55.455
57
046
San
Fran.
AN.
P.
April..
569,700
426,56 i
DuluthS.S.AAtl. 4tbwk Apr
38,741
52.199
575,342
588 779
267,670 285,130
Sav. Fla. AWest February
378,043' 443.725 Slier.
KlginJol.AEast. April....... 104,173 1 0 0 ,0 2 0
6.374
85.636
89
345
6,337
Shrev.ASo.
4th
wk
Apr
Erie..................March........ 2.455,706 2,489,073 6.853,868 6,981,957
30,442
22,680
14,966
10,529
V
tip a lr u Springs.
UnvlTiira January...
I a n im ivt.
4J3.642
IZ.i O
A 'TiH!
4,790 BJ. Sprs. O. A G. February .
Eureka
3.642
4,796
52,260
77,140
12.471
3,554
Silverton.........
December.
Kvaus.AInd’plis istwk May
86,875| 10 4,508
4,967
5,2331
5,182
6,706
I,
557
1,802
31,7*7 So. Haven A East April........
22,880:
Evans. A Rich.. 4thwrk Apr
2,4511
1,875
Kvansv. A T. H. Istwk May1 18,146
389,298 So.Paoitlc Co.—
324,125
19,334
Gal.Har.A S.A March...... 374,166 393,519 1,099,999 1,253,952
Fitchburg........ March___ 54 >.441 586.961 1,565.505, 1,670,020
262 627
77,401
250.229
89,330
Louis’a. West. March......
971,087
942,949
49, 40
Flint. A P^Marq. Istwk May I 43.516
Morgan’sLAT. March...... 447,722 395.672 1,305,923 1,300,280
700.340
Fla.Cent. A Pen. 4th wk Apr 1 59.238
57.819; 767,6 9
13.174
42 546
63,808
19
834
N.Y.T.
A
Mex.
March___
Ft. W’thADen.C. 4thwk Apr
20,008: 19,890' 319.87 7 294,687
333.952
389,426
Tex. AN. Orl.. M arch-... 139.413 107,551
91,523
64,511!
Ft. W. A Rio Gr March......
17.934| 24,673
1 3,229 526
/’998,962
f3,159,628
/1079178
Atl.
Prop’tes.o
March......
3,415
Gads. A Att. U. April.......
6001
2,668
809
Pacitto system March... 2.564,189 2.503 420 7 006.571 7.351,290
553.486! 543,741
Georgia RK...... »stwkMa>
21.8881 19,175
Total of all./ March...... 3,913 999 3,741,885 10,715,915 11,069,350
354.538, 217,718
Georgia a Ala.. Latwk May
18,298; 14.134
So. Pao. of Cal. March...... 789.311 831,597 2,171,303 2,460,73
224,755
259,402!
Ga.Car’la A No. March.__ j
77,4031 60.93
642.321
644.104
So.Pao.ofAriz.
March...... 2z9.o20 204,327
285,947
6 1,911
Geo. Bo. A Fla..!April.......
65.2601 273,739
309,780
99.823
332,506
So.Pao.ofN.M. March...... 120,171
639.726
37,3371 629 029
Gr. Rap. Aind..i Istwk May1 33.919
464 391
153,844
450,586
154.013
Northern
Ry..
March......
Cln.K. A Ft.W. Latwk May]
6,662
8,146! 132,822' 151,150 Southern R y.... Istwk May 337,9u0 324,183 6.655.491 6,424,987
15,876
13,0881
545
Traverse City.! latwk May
933
51,783
92,80
i
26,005
46,149
Spok.F’ls
ANor.
February.
45,859
35.308
Mas. G. K. A 1. Istwk May
1,976
2,267
3,290
J, l03
2.602
1,128
902.610 StouyCl. AC.Mt Marcn......
810,216
43,102
Tot. all liner' Istwk May
48,693
242,840
205.706
88.130
66,647
March......
Grand Trunk... utwk May 32 ,115 332.909 5,740,732 5,7 (6,172 Stimuli t Branch.
226
350
75,879
206.135
61,636
March......
Lyk.
Val.
Coal.
1,083.749
963,692!
69.060
Chic. A Gr, Tr. 4thwk Apr
81,209
469,196
411,841
Tot’l both Co'8 March...... 128.283 164.315
283,943
DeLGr.H.AM. 4thwk Apr
22,891 303,508
22,968
77,057
69,207
3,189
4,176
4th
wk
Apr
Texas
Central..
43,150
33,738!
3,054
Oln.Bag.AMar 4thwk Apr
4,054
89,831 2,235,852 2,149,800
20,321 Texas A Pacific. IstwkMay 105.646
33,743
rol.S. AMnsk ithwk Apr
1,662
2,631
10 050
11,105
1, *01
2,210
Tex.S.V.A N.W. April
Great North'll—,
604,702
553,837
20,337
28,2
71
Istwk
May
St. P.M. A M IApril....... 1,093,4 47 1,032,714 3,676,871 3,867,558 Tol. A Ohio Cent. 4th wk Apr
324,280
275,670
20.455
15,014
Tol.P.
A
West..
406,101
361,435
East or Minn.. April....... 1 0 0 .4 . 9 106,332
729,702
619,847
39,030
38.029
622,347! 608,818 Tol..St. L. A K.C. Istwk May
MontanaCent. April....... 160,278 1 5 8 ,616
865,567
955,511
65,660
70,390
Tot. system.! April....... 1.354,204 1,297,692 4,860,6 >3 4,942,477 Uu.P.Den.AG.. 3d wk Apr.
23,008 Union Pacific36,571
GTfB’mutAK.C. IApril.......
0,620
7,336
Union P. RR.. February. 986,097 925,467 1,987,840 1,862,796
13,360
14,331
Gulf d. Ohicaeo |\prll ___ !
3.018
3,303
750,283
752,776
Or.S.L. A U.N. b'ebruary . 354,867 363,583
11,466
10,56'2|
Hoos.Tuu.tV Wll March......
3.760
3,955
208,2 U
11.000
376,453
St.Jos. A Gr. I. latwkM >y 22,000
721,779
74.7,500
Uoo«.d Thl Osk larch..... 270,33 a 239,503
A0 h.C0 i.AP. February.
Illinois Ceutrail iAnii) ...... 11567737 11638741 ♦7,053,987| f 7,039,479
48,209
72,653
22,794
39,603
Aoh.J.O.A
W
151,566
129,575:
ImLUec.A W^Ht 4tliwk Apr
9,930' 10,316
R a ilr o a d
In te llig e n c e
h
THE CHRONICLE
4 «
i to La
!#r*a4*
W**k«
1897
1896.
1897.
4kih w m k <tf A p r i l .
1896.
[VOL, LX IV .
1897
1890,
6
37,440
74,000
20.097
449,091
69.800
6,337
4,176
15,044
*
33,223
58,000
15,420
366,003
07,100
6,374
3,189
20,455
In er ta t
,
®
4,217
16,000
4,677
74,088
2,700
Decrease.
t
(Hoi*ills At OliaTlestoo.,
Mosumui Rail wav*...... .
*
Hsxicau
Southern.........
22.9.920
329,000
25*000.
a.i.ooo
*«!»*, Apr
U 6 .2 9 1
$0*113,
169.0 7
5J.953
v,u Hr.\ I/.I I. ¥rl,r,'.mry
Rio
Grande
Western......
3,046.962
3,368.440
i>bm*ry Mi.?-Ml?
37
ShermanSbreva. A So...
21 4.9 IS 3,709,476 4.099,403 Texas
u ;« » Mas1
Central................
98 7
40,015
33.63S
1S.4S9
20.877
Was** A Jfnrth* February
Toledo
Feona
& West’ll..
5,411
410,387/ 422,148
164.786 158.011
w j t r m a w>**** M«eti
273.572
259.71*4
$>7,007 lu‘.M»7i
W.t.Ban,* **SB» March....
rotal '84 roads--------- 8,181,587 8,207,956
311,827
585,458
55.712
50.3 4228.209
W**t V*,* f f l » F«bnftafy i 23.198
>*t io ‘i*»*H*#* *3*33 o. o.
.......
.......
273.031
110,971
41.183
165,384
51, $49
'WMVMNk«I AU. MarWs ,.
48,400
61.100
866.4961 912,119
Wert, If. Y. AP* 1*t*rk Stay
For
week
ending
April
24.
128,948
340,224
23.0-3
18/471
wee*:. * i. Kh » l tin* Mmy
69.022
l«SWkM»y
84.469 1,304,461 1,310,584
w
27,701
22,348
9,937
6,419
Wwt»af-AX«ai Maw*
Net Earning!* M onthly to Latest Dates.—The table follow
• r t s u t m *nrea do sot loelBdo Oregon Ry, * Say., Un. Fao, DenverA ing shows tne net earnings of S team railroads reported this
„«•>. 1k s t « LeedrUl* A Gaanwon, Montana Union and Leavenworth week. A full detailed statement, including all roads from
A Hkinth«re*u»rn, « Tfcnwe ilguies Include reeult* on eased ltnee.
» 1i-.c. : t o * f r o m ferries. etc., not given separately. i Mexi- winch m onthly returns can be obtained, is given once a month
t i i <•trrrnoT « Include* only half of line* In whlah Union Pacltlo hue in these columns, and the latest statement o f this kind w ill
a tslf Usthreat
be found in the Chronicle o f April 17, 1897, The next will
„s isoud*.* r penman* of the Ohio. Burlington A Northern In both appear in the issue o f May 23. 1897.
g r o s s E a r n i n g s . -----. .----- S e t E a r n i n g s , -----T S V * . result* for Oar* directly operated east of Plttehory,
1897.
1896.
1897.
1896
r The earning* for the fourth week of April In 1895 were #10,411.
*
*
H ta d s.
#
*
fCovat* be*..dm the Atlantic System the floiuwu a Texas Centra),
13,672
45.241
40,529
16.301
Atutln A XorthwarUOTJ, Central Texas A Northwestern and Ft. Worth Atlanta & W. Point..Mar.
140,927
56,156
63.921
137,428
Jan. l to Mar. 31----A Sew Otl*an».
160,870
430,525
137,340
186,323
July 1 to Mar. 31......
i Include* 3l Loot* Alton A Terre Haute for all periods.
6,051
6.127
18,243
19,614
Latent Grow Kami turn by Weeks.—Xr»e latest weekly earn Austin A Northw ....Mar.
15,536
58,832
1 8 ,0 0 6
53,030
Jan.
1
to
Mar.
31......
ing* its the foregoing are separately summed up as follows :
<fc Aroosto •&—
For the first week o f May our preliminary statement Bangor
64,322
169,272
75.468
Jan. i to Alar. 31. ...
194.968
cover? 57 roads, and shows 4'20 per cent increase in the Boston &. Albany.!*—
aggregate over the same week last year.
787,528
Jan* 1 to Mar. 31...... 2,028,716 2,072,585
764,638
Boston & Maiue.b—
1896.
Incrtnsc. Doortatt.
Jan. 1 to Mar. 31. . 4,233,775 4,275,111 1,264,994 1,004,977
o f Ifup.
1897.
l*f
405,419
157,559
121,383
Bnrl.Ced. R. iN o.n .Mit. 325,833
#
433.57 9
353,650
935,211 1,149,304
Jan. t to Mar. 31.__
177
25,675
Alabama Gw Southern..
311,639
953,150
331,436
701 Centra, Pacltlo. b..... Mar. 1,092,729
21.272
Asa Arbor........ . — ,.
845,407
880,432
Jan, 1 to Mar. 31. ... 2,665,893 2,689,889
12.462,
179
Atlantic A Danville ...
51,058
69,389
55,291
103,511
6 6 ,0 2 2
610
Balt. A Ohio Booth w«tL.
Chicago & No. Pan ..Mar.
142,764
204,332
171,083
214,473
2 ,2 4 8
Budaio Booh. A FlUeli g
Jan. 1 to Mar. 31......
63,021!
72.01*1
425.001
OtBAdws raoinc----- ....
25,526
128,226
39,419
Ohio. A West Mich..Mar. 133,623
5,234
77,'>43
Central of O w fila .......
49,714
67,570
365,004
360,415
Jan. 1 to Mar. 31.....
: Ohio----„
174.2 2s
18.6S9
6,794
5,328
58,436
58,271
Cin.
Jack.
&
Maofcb.Mar.
14,799
79.389
Bast- Illinois,
17,910
10,476
169,473
162,730
Jan. 1 to Mar. 31.....
771
539,197
i MUw. A 8*. Paul.
1,313
87,743
OUb. A Weil MuUugnn...
Delaware «fe Hudson—
12,084!
806
Ola. daetaon A Mackinaw
Reims. A Saratoga—
93,735
4,301
23.655!
CJev. Lorain * Wheeling
467,102
130,614
Jan. 1 to Alar. 31......
486,384
123.501-!
D*ay«r A Kle Grande
3.6 HO N. Y. A Canada21,457.
D N m O r. Hap. A We.4t.
l,10o
43,274
49,174
192,264
187,298
Jan l to Mar. 31......
Bv*a*v, A Indianapolis
5,233
266
Albany A Susq,—
S w a t . A Terr*. Haute..
18,14*
’ i',188
422,883
344,701
848,132
973,613
Jan. 1 to Mar. 31......
BUM A Per* Marjuetto
43.516
6.024
Georgia......................... .
21,882,713
Del. Lack. A Western b—
18.298
OMtgsa# Alabama......
595,729
4,161
451,877
Jan. t to Mar. 31___ 1,235,526 1,484,101
Grand Rapid* A Indiana
33.919!
3,118 Det. Gd. Rap. A W.a.Mar.
18,064
24,357
95,079
105,839
Ctn 111*1,. A Ft. Wayne
6,66 i ’
1,494
26,689
45,607
259,583
285,835
Jan. 1 to Mar. 31___
545
IMMIM City....... .....
408
19,413
19,619
53,724
48,391
H c*. <jr. Rapid* A tad
1,976
281 Detroit & Macfc’o.a-.Mar.
49,637
46,201
127,823
Jan. 1 to Mar. 31......
131,033
Grand Trank..._______
321.145!
11,764
98,160
71,700
270,233
3 _>7,212
July 1 to Mar. 31----55,820!
I a tarn'1A ( i t , North'n ...
7,274
Iowa OofnU -................
30.272
242
DnlutU 8 0 . Sb.A A d
swan A Michigan__ I
8.365!
149,404
1,341
05,025
430,296
lan. 1 to Mar. 31......
315,173
. City Fittab. A Golf
45,721
82,908
26,745
63,022
30,863
Ed. El. UL Co., Bklyn.Apr.
67,985
Kaa. Q tf Suburb, B elt..
9.120
3,953
124.696
139,4
<7
Jan.
1
to
Apr.
30......
293,280
274.986
56.154
Lake tr im A Western__
3,953
80,585
100,845
Edison
El.Il.Co.,N.Y.
Apr.
180,111
206,143
Lotttsv. Evanav. A St. L.
23.338.
5,505
359,369
777.670
423,515
Jau. 1 to Apr. 30.....
867,116
LoatevlUe A haabTiile...
388,750
3,395
MAkiuaa <vi-.trai... . .. . ..
258,139,
186,0.»»,
20,981
72,200
23,899
Edison El.Il.Co.8 t.Ij..Mar.
...........
...........
Mexican National..........
a 1.9.to
I'U.fisO
20,041
103,335
87,982
BUhbrapeUs A 81. Louie
32,235
679
Fitchburg.Il
Mins. SEP. A 8. 0. M ..„
74,694
14,486
368,830
438,275
ian. 1 to Mar. 31...... 1,565,505 1,676,020
Mo. Sanaa* A Tex**. ....
180.186
12,262
64,144
M. tV ■: a It o o M l....
246,043
59,389
Flint A Pore Marq.a. Mar. 247 876
33 1 ,00*
17.U00
173,833
100,633
Central liraneh.........
698,075
Jan, 1 to Mar. 31. ...
6 0 5,940
1 0 ,0 0 0
7,000
5 - V. On tano A Western
00.271
9,878
Georgia AAlab a.a .Mar.
12,2 11
79,013
42,705
Norfolk A Western... ....
229,167
.± * 3
49,428
8 , 43
Jan. 1 to Mar, 31,...,
61,150
145,562
285,546
5 «r4i,*tr, Paeiae..........
317.825
36,481
122,917
240,957
425,380
July l to Mar. 31......
790,739
136
10,833
52,782
239,503
Honst A Tex. Cent.. Mar, 270,333
A k tm m v ...
15,108
1,932
135,599
Jan.
1
to
Mar.
31......
721,779
149,538
747,500
48,048
14,882
tU>-‘
Wr-*|
515,138
34,30t552,605
i.ooo XUluols Central.a .Mar. 1,807,201 1,724,831
<M„ iRluttd.
21,000:
Jan. 1 to War. 31...... 5,486,250 5,400,738 1,848.084 1.663,965
11,000
iMtHJi*ifkinU3«r«Nitcn3,,
5,870,211
70,200
July
t
to
Mar.
31-----16,338,238
5,267,731
17,029,533
“ 1,800
**>'4tlwra
, ,,,
337,000
13,7171
Lehigh & Hudson, b—
fbmm M
105,6 It*
i5,8i&;
31,857
28,562
Jan. 1 to Alar. 31......
72,927
84,862
wA; Ob|o CpatraJ, .
28,271
66 Long Island b—
ill* JUM
raty,.
38,821*'
401
23,333
Jan.
1
to
Mar,
31.....
1,300
620,498
631,218
.
I#0*800
18,052
JS, If, d| |*©rS»;#flf'
4Ht400
11,241
28,499
101,617
12,700 Memphis A Chas’n ..51 ar. 114,025
40*271
63,209
62,352
Jim. Ito Mar. 31, ...
310,792
337,598
9,814
275,473
08,022
July
1
to
Mar.
31......
1,040,102
284,370
1,090.051
15,147
40.913
Mexican Nortiiern *..Mar.
57,706
31,885
78,462
ffrfiaj sf57roe4*y.,,
5,517,395 6,295.035
374,301’
181,941
110,633
J an. 1 to Mar. 8 1.....
167,120
227,669
92,517
^#1 i?30T«>*4MN 4 20 $», ^.1, ...
306,625
July
1
to
Mar.
31,....
463,459
247,304
222,360
574,100
New England—
or the fourth w
covti
260,641
Jau
i
to
Mar,
31......
1,130,620
230,602
1,265,859
*4 Tiada, anti anew* 3'!W i* t ount increase m the aggregai
Now Jersey A New Yorkn e t the earn* w*
last year.
55,722
8,401
Jan. 1 to Mar. 31......
73,497
4,086
N. Y. N. 11. A Hartford—
Jttn. 1 to Mar. 31,.... 6,433,176 6,606,955 1,831,859 2,118,091
4T%
of Jftrfi*
1.807.
1890.
/Odgftaurc, XHcr&afit,
N. Y. A Rock. Reaeti—
•
1
*
f
$
Jan. 1 to Mar. 31.....
10,377
11,686 del.22,056 dof.24,687
1,196346- 7,018,080
451,737
270,172 Peoria Dec. A Bv__ Feb.
78,405
68,205
22,274
23,215
81,700
95*492
13,703
Jan.
l
to
Feb.
28......
149,881
145,759
43,290
50,877
110,138'* 102,319
7,817
Pkilft.
&
Erie
..b-Mar.
290,621
63,486
275,608
79,289
__ ....
20,325
3,470
Jan. 1 to Mar. 31..-** 828,050
3,050
133,251
811,395
187,342
3,30.1
313
DqIhUi It. g. A
,.
38,7411
62,199
13,458 Prosp. Pk. A Coney 1st—
t iri1##A klf Bn*«*
1*878'
2,451
576
Jau. 1 to Mar. 31......
7,350
6.085 def.8.114 dof.15,810
FH6* A
.
60,49?'
65,267
1,238
Sontliern Paolflo—
Ptik Cdbla ife
.,
50,23m
67*819
1,419
fi-si..fi,*., ................
Gal. U. A 8 . Ant.b..Mar. 374,168
393,519
75,010
109,234
34.096
m m t
3,759
Jan. 1 to Mar. 31...... 1,099,999 1,251,952
390.283
252,155
€4**r#®M*A
kmtk......
18,700
15.821
939
IsTidu:*
f A W* «t
88,330
9J80
10,318
77,401
Louisiana
West.
b..Mar.
37,100
29,379
388
jM*»*,!,*,...
91,004
202,627
250,229
Jan. 1 to Mar. 31......
44.337
104,087
118,910
6.007
l i i , illf
A M«»,,
80,425
6,464
51' van'» La. A Tor. b . Mar. 447,722
395,672
138,236
69,603
Jti4u Cttf Him, % a i m .,
23,420
73.837
417
327,634
Jan. 1 to Mar. 31...... 1,303,923 1,300,286
392.242
Ejms*.** f||| A OmUii. ..
5,028
2,2»7
2,769
19,834
13,174
N.Y.Tex.
A
M..b..Mar.
5,787
2,043
A
.....,
r,..v.*4
10.3*7
3 .7 9 0
63.808
42,546
Jan. 1 to Mar. 31......
23,111
8,793
«
THE
M a y 15, 1897.]
CHRONICLE.
917
L a te s t G r o s s E a r n i n g s .
J a n , 1 to L a t e s t D a t e
.---- G r o ss E a r n i n g s . ---- . ----- N e t E a r n i n g s . ----GROS8
1897.
1896.
1897.
1896.
E a r n in g s .
W e e k o r M o 1897.
1896.
1897.
1896.
%
$
8
8
107,551
31,772
Texas & N. 0..b...M ar. 139,413
50,981
S
9
$
*
335,952
389,426
103,922
Jan. 1 to Mar. 31......
138,377
Paterson Ry.............
23,956 23,644
69,122
69,05
998,962
307,151
243,996 Pittsb. Ft.8ub. El.Ry. March......
Atlantio System.b.Mar. 1,079,178
March......
2,643
1,347
7,773
4.058
3,229,52
6
938.669
Jan. 1 to Mar. 31...... 3,159,628
919,959
Po’keepsie A Wapp. F. Vpril.......
6,161 6.544
22,042
22,587
879,144
Pacific System, b ..Mar. 2,564,489 2,503.420
774,836 Rochester Ry........... February. 62,287 68.783
Jan. 1 to Mar. 31...... 7,006,571 7,351,290 2,148,793 2,279,233 Bobuylkill Traction.. March......
6,695 6,931
21,088
22,164
3.841
10,833
Total of all.b....... Mar. 3,913,999 3.741.885 1,239,027 1,035,716 Schuylkill Yal. Trao.. March......
8cranton
ACarbond’e
March......
-931
3,189,885
3,269,830
Jan. 1 to Mar. 31......10,715,945 11,069,350
A Pittston.. March......
4,845
13,722
831.597
297,551
265.391 8oranton
So. Pao. of Cal.b..Mar. 789,311
Boranton Railway__
27.349 25,523
781910
75,437
Jan. 1 to Mar. 31...... 2,171,303 2.460,738
732,215
832,914 8eoond Ave. (Pittsb.) March...... t71.556
f 69,168 134,299 131,234
201,327
So Pac.of Ariz’a.b .Mar. 229,020
78,073
66,276 Syracuse E’st-SideRy March......
2.69*
2,813
7,443
8,161
641,104
64 2,321
217,996 Syracuse Rap. Tr. Ry. March...... 33.961 35,226
188.313
Jan. 1 to Mar. 31___
96,155 101,295
Terre
Haute
El’c.
Ry.
March......
11,501
11,498
99,923
60,657
34,713
Sc. Pac. o f N . M. b .. Mar. 126,171
March......
567,117 584,543
160,657
332,506
309,7 6
119,455 Third Ave. (N. Y.)
Jan. 1 to Mar. 3 1 __
Toronto Ry.... ....... April....... 73.751 75.747 297,661 297,193
45,021 Twin
Northern Rail’v.b..Mar. 154,613
153,844
32.79 4
City
Rap.
Tran.
March......
157,192
354.542
449,373
458,516
Jan. 1 to Mar. 31......
450,596
464,391
88,810
137,985 Union (N. Bedford)... March...... 16,705 15,761
47,588
45,877
Syrac. Bing. A N. Y .b—
United T--act. (Prov.) March...... 130,282 130,946 378,499 387,595
Jan. I to Mar. 31. ...
167,334
162,793
66,167
41,149 Unit. Trac. (Reading) March...... 12,016 12,181
34,272
36,44 6
3,837 3,29“
10,346
15,721 Wakefield A Stone__ March......
9,518
Tol. Peoria & West. b. Apr.
58,703
10,126
70,756
54,008
56,201
Jan. I to Apr. 30......
324,280
69,808
84,977 a'aterbury Traotion.. March.__ 18,46. 18,152
275,676
224,128 ’^heeling Railway. March...... 12,530 13,417
36,689
855,540
37.073
July 1 to Apr. 30......
743.869
186,663
•Vilkesb. A. Wy. Valiev March...... 37,961 36 791 111,829 111,983
Vermont Valley—
includes results on North Side Traction Company, which was leased
42,463
47,692
14,619
Jan. 1 to Mar. 31......
32,757
February, 1897 to the Second Ave. Traotion Co.
28,209
7,980
15,140
W.Yirginia A Pittsb.. Feb.
23,199
21,161
29,416
50,342
55.742
Jan.1 to Feb. 28......
Street Railw ay Net Earnings.—The following table gives
129,758
154,832
Jaly 1 to Feb. 28. ...
264,348
249,478
9,354 the returns of Street railway gross and net earnings received
51,949
41,183
22,093
West’nof Alabama..Mar.
165,384
this week. In reporting these net earnings for the street rail
140,971
71,429
Jan. 1 to Mar. 3 1 ---44,433
213,924
176,300 ways, we adopt the same plan as that for the steam roads—
50 L,26>
463,528
July 1 to Mar. 31......
R oa d s.
a Net earnings here given are after deducting taxes,
b Net earning here given are before deducting raxes
' 8t. Louis Alton & Terre Haute included In all periods exorat
three months from July 1 to September 30, 1395.
fo r tb s
Interest Charges and Surplus. -T h e following roads, it
addition to their gross and net earnings given in the foregoing,
also report charges for interest, &c.. witu the surplus or deficit
above or below those charges.
— R ai o f N et B n * 1896.
1897.
1896
*
9
4,213 def.8,516
34.042
101,583 def.36.3 J2 def.51,869
8,471
4ef.l,994
13,0 25
51,119
4,048
20,700
153,133
1,398
22,051 def. 12,547 def.6,330
14,242
209,886 def.43,039
—I n t e r ’ t, r e n t a l * . <+
R oa d s.
Ohlc. & W. Mloh....... Mar.
Jan. 1 to Mar. 31......
Det. Gd.Rap.A West.Mar.
Jam 1 to Mar. 31----Flint & Pere Marq...Mar.
Jan. 1 to Mar. 31......
Toledo Peo. & West..Apr.
July 1 to Apr. 30..
1897.
8
35,206
103,902
15,886
47,601
55,841
159,235
22.673
229,702
S l’ KBfcT RAILWAYS AND TRACTION COHCANIES
The following table sho*s the gross earnings for the latest
period of all stbeet railways from which we are able to obtain
weekly or monthly returns. The arrangement of the table is
the same as that for the sieam roads—that is, the first two
columns of figures give the gross earnings for the latest
week or month, and the last two columns the earnings for
the calendar year from January 1 to and including such latest
week or month.
RAILWAYS AND TRACTION COMPANIES
J a n . 1 to L a te s t
L a t e s t G r o ss E a r n i n g s .
R o a d s.
W ee k o r M o
1897.
1896.
1897
1896.
*
$
8
15,389
17,046
Akron Bedf’d A Clev. March......
6.335 5,379
10,796
10,456
3,611 3,583
Amsterdam 8t. Ry.. March......
Anderson El. 8t. Ry..
4,349 4,397
16.571
16,627
6,158 6,237
Atlanta Railway....... March......
Baltimore Traction.. March...... 95,723 87,267 270,326 256,859
3,945
3,782
Bath St. Ry. (N. Y.I.. March......
1,338 1,266
6,441 6,258
Bay Cities Consol__ March......
10,078 9,932
Binghamton St. Ry...
89,622
91,274
Bridgeport Traction April....... 24.143 24,051
69,545
61,679
Brockton Con. St. Ry. March...... 24,920 22,051
Br’klyn Rap.Tr. Co.—
Brooklyn Heights.. April....... 378,742 380,289 1,381,698 1,363,338
Br’klyn Qu’ns A Sub April....... 60,811 59,627 217,670 206,282
Total for system . April....... 439,553 439,916 1,599,368 1,569,620
.... ... 323.076 335,154
38,683
38,340
Chester Traction.. .. March...... 13,519 13,731
2.792
2,870
1,432 1,344
City Elec. (Rome.Ga.) February.
Cleveland1'Electric... March...... 132,272 128,283 371.963 372.667
14,901
Cleve. Painsv.A E__
5, *59
Columbus 8t. Rv. (O.) 3d wk Apr. 11,008 1i ,763
60,930
61,94#
Coney Island <s B’lyn. March...... 21,546 20,129
Dan v. Gas EL Light A
8,727
8,727
9,597
January...
9,597
Street Ry...............
Denver Con. Tramw March...... 53,728 56,345 157,132 162,787
Detroit Citi’ns’ St. Ry. Istwk May 22,917 24,436 348,258 325,437
99,145 101,296
Detroit Elec. Ry....... March...... 31.363 34,248
48,143
42,567
Dulnth St. Ry........... March...... 15,508 17,055
32,618
29,450
Erie Elec. Motor Co.. March...... 10.076 11.212
44,17 • 39.645
Galveston CityUy.. March...... 14,359 13,528
Herkimer Mohawk Xi
10,415
10,644
3,720 3,667
ion A F’kfort El.Ry March......
1,573
1,488
515
563
Hoosiek Rv............... March......
43,351
42,293
14,220
March......
15,099
Houston Elec. 8t. Ry
Interstate Como', of
25,431
26,843
North Attleboro__ March,__
9.523 9,238
11.225
11,197
Kingston City Ry...... March......
3,915 3,853
27.882
24,510
Lehigh Traction....... March......
9,166
7,855
16,167
London 8t Ry. (Can.). March......
6,826 5,785
19,586
79.647
83.031
Lowell Law. A Hav . March...... 29,779 26,790
Metrop. (Kansas City i istwk May 34,880 33,674 560,030 563,n il
11,526
10.982
Montgomery 8t. Ry March......
3.957 3.832
Montreal Street Rv... April....... 103,046 97,47/ 392,076 372,070
76,933
Nassau Elec. (B’klyn) March...... 122,368 26,269 334,351
14,119
13,711
Newburgh Electric... March......
4,919 4,761
New England 8t.—
42,681
42,076
Winchester Ave.... March...... 14,895 14,388
6,096
6,040
Plym’th A Kingston March......
2,142 2,062
48,777
48,116
Total................... March...... 17,037 16,450
7,712
7,966
New London 8t. Rv.. March......
2,847 2,611
New Orleans Traotion March...... 117,017 109,013 316,365 330,822
23,395
23.662
2,490
2.951
Oedenshurg8fc. Ry... March......
1.042
788
•---- G r o ss E a r n i n g s . -----.,----- N e t E a r n i n g s . -----»
1897.
1896.
1897.
1896.
Amsterdam St. Ry.. Mar.
3,611
3.583
595
Jan. 1 to Mar. 31___
10,456
10,796
1,541
Buftalo Railway—
Jan. 1 to Mar. 31___
323,076
335,154
150,613
Crosstown 8t. RR. (Buffalo) Jan. 1 to Mar 31___
106,763
106,039
30,913
Manhattan Elevated (N. Y.)—
Jan. 1 to Mar. 31...... 2,387,504 2,362,811 1,048,513
Pough.City AW. Falls. Apr.
6,^44
6,161
2,732
Jan. 1 to Apr. 30......
22,042
22,587
7,252
Schuylkill Yal. Trac.Mar.
3,841
def, 105
Jan. 1 to Mar. 31......
10,833
def.1,313
AN N U AL
381
1,298
161,716
30,720
945,099
1,630
6,104
R E PO R TS.
OimiHl 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 S treet R a il w a y S upplements ,
This index does not include reports in to-day’s C h ron icle .
R A IL R O A D 8 AN D M lS C E L . C O ’ S.
V o lu m e
Gaoes
Eaknikob.
D ot*.
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 o f this kind will be foiind in the C hronicle
of April 17, 1897. The next will appear in the isBue of May
22. lt*97.
64—
P age.
American Bell Telephone........... 797
Canadian Pacific........................ 752
Central Pacific................... 884, 897
Chicago Burl. &Quincy....733, 752, 756
Electric Storage Battery............ 841
Erie Telegraph A Telephone .887, 900
Flint & Pere Marauette............. 790
General Electric Co.............. 841, 818
Lake Shore.............................. 885
Mahoning Coal RR.................... 885
Mexican Central.... ......827, 839, 845
Michigan Central..................... 885
New York Chicago & St. Louis.... 886
Oregon Short Line RR.................841
Railroad
and Misoel. Co’s ( O o n .)
V o lu m e 64—
P age.
Pitt. Cin. Chic. &St. L.... 775, 796,
St. Joseph &Grand Island ..........
Southern Pacific.................. 871,
Sunday Creek Coal....................
Union Pacific.........................
Street Railways.
61—
V o lu m e
801
811
889
797
840
P age,
Akron St. Ry. &Ilium...............
Baltimore Traction ..................
Louisville Rv ....................... ...
Twin Cnty R. T. Co. (Minneapolis).
Wlkesbarre &Wyoming Vai. Trac.
607
607
466
704
607
Georgia & Alabama Railway.
( Statement for Calendar Year 1896 )
The company’s first mortgage preference bonds, limited to
80,500 per mile) were recently listed on the New York Stock
Exchange. The official statement submitted in connection
with this event contains the following:
Bonds.—Of the ,431,000 first mortgage preference bonds
issued, the company holds in its treasury $201,000, of which
8100,000 are deposited as security for the lease of the road
from Lyons to Meldrim.
The amount of preference bonds,
therefore, in the hands of the public is $2,230,000.
The $2,230,000 first mortgage pref erence bonds now out
standing nearly all represent new money put into the prop
erty. The holders of the old first mortgage bonds ($3,350,000)
of the former Savannah Americus & Montgomery Railway
were given in new prefer ence bonds only $167,500, or 5 per
cent of the face amount of their old borids, in addition to the
junior securities distribut ed among them.
Mileage.— The mileage of the company is as follows:
L ea sed —
M ile s .
O w n ed —
Miles.
Lyons, G a., to Meldrim...... 58
Montg’m’y,Ala. ,to Lyons, Ga.265
Trackage,
Meldrim
to
8avan.
17
Abbevillo, Ga.,toi'’ ltzg’ld,Ga. 22 it
Columb’s, Ga., to Albany,Ga. 87%,
Total mileage operated..450
Total mileage owned...... 375
Physical Condition. -A s to the equipment, rails, bridges,
etc., the company states :
Equipment.—The rolling stock includes 36 looomotlves, also 2 ad
ditional belonging to tlie leased Montgomery Terminal Oo., 20 passen
ger ooacbes, 10 baggage, mail and express cars, 626 box cars, 698 flat
oars and 17 other oars; also a pile-dr iver and steam shovel.
R ails.—The line from Montgomery to Lyons Is laid with 60 lb. steel
rails; from Lyons to Meldrim with 163*245. steel rails; from Meldrim
to Savannah with 68-lb. steel rails; Columbus, Ga., to Albany, Ga.
with 56-lb. steel rails ; from Abbeville, Ga., to FitzgoralcJ, Ga., with
THE
918
CHRONICLE
tV o l . L X I V
-fv* r*li« i » la gmnt mu4iHam, The eoaipany h&3
$#lfe f1«#t pitla
:
»
au4 oiW tHMdoi*
m im ytotm t 5m
ferine* *>? the cwapsini5.Aru all «UmsI naa iron, f i »
ftfctSMii*
m
&
$
u
*
$
*
>
Iw
i
w«M
*4«m tv*.** ferhlge* wMeh Is now being retts#
194u& *
1 *?, .-■<ftn|«--r They t e n nMfeeeu rooeaUf o^attUMWl by
age earned, and decreasing th i amounts paid, so that thebaiunce at the close o f 1897 will undoubtedly be in our fa v o r
ir stead of against ua, as it has been of late. It w ill not be
necessary to purchase any more cars for this year. Tw o
«*»ri. *u l or* In £ood con UU m, with the oioopUuu of one freight engines will be bought to replace old light engines.
.
iiit_
ii?&iirr* w *
TbeU nion Passenger Station at Cedar R ipids has been com
f%# "tm& U« pmefctM wifli talBaMi «blo fraolca. #wft**h signals, safety
.. rt «u «o a balMUi^*. om.v. anil *hop« belonging to iiud pleted, and is thought to be the finest and most convenient
-mpAur
nr*
m
good
«muditi«xu.
station in the State.
%M%& Pf fl&§ *
Financial.— The $584,000 Iow a City & Western Ry. 7s have
K*rniny*.—‘T m ewrniog* for the calendar year 11196 on an
awtr.gr mi'eagr operated o f 3J9 miles were as follows, the been replaced with a like amount of consolidated 5s.
The rapid decrease in earnings com m encing with August,
r.«.l from Abi- villa to Fit£;<■raid. 33J£ miles, being included
from Aug. 15, 1896, but not the 67’j miles from Columbus, 1896, has continued until the present time, and earnings so far
C > . u> Albany, U i.. the merger of this latter property only this year are approximately the same as in the years 1894 and
1895, and the e conomies in operation in tboBe years are in prac
U . mm.: effective P ec. 81, 14s99;
$968,426 tice now , which, with an increase o f business confidently
0 p m # r n m i u s * . * ,*.»
«■«.-. .
509,173 looked for, wilt without doubt enable your com pany to m ain
tain its property in its present most excellent c mdlcion, as*
N««? <-AtnUitfs.
m. * ^ * o* * . , . -■..............$269,253
well as to provide for its fix-id charges and dividends.
T*.**■*&
lns*trse**i a^ettwNl sam# purlinl or 5rat mortgage preference
Traffic.—The reports for a series o f years show tonnage
?-osc!«
i eutmiodtoK------- --------- . --------- $72,526 hauled as follow s (000 om itied ):
tr,'■ -• a.vrui'4 *a«in jwriod on first ihortgage eenfulldated
l'fnr. T o t a l . W h e a t . C o r n . B n r t n . O a U .
F l o u r . Lumber. C o a l M e r c k .
twiisU iS2.SC"i.OOOS -'iMtomUn*,-................ ................. ......... 116,250
— 1,903
125
S2 1*8
215
HSO lit
4470
XU
fVnd.r t:.*of tli* mortgage the company may, if It so
im>3...Jp|a
129
2i
09
206
+117 200
*205
lis
*S«t, pay the whose or any portion of tin- lnt«*re#t on the
18/!.... 1,531
08
60
60
109
+91 178
4310
118
\ niortiiige bond* from Jan. 1,189*>, to Jitu 1,
ISfci... 1.731
*------------- 300----- ——'
+90
185
*34,1
107
! -jlf....1,817
405
+79
211
4325
108
S'.Kxt m « percent 10-year scrip, but as lu reremtoi have
tw e amjt'.r. the m npsny liii* always met the entire Inter
i t delude* meal, JIncludes coke.
est In rash a. K ho.- heroine due.)
Tlie average earnings per freight train mile in 1896 were $1.55,
i
.
.......................... . . — ----- - .
.
.
.
.
.
49, 02o
asainst $1-61 in 1895 and $1-31in 1893. Of the total tous carried In
$237,800 1996 (1,902,585) -115,008 were local freight, The grogs earnings nor
Ke* revenue...... ................................ ..................... $31,433 mile of road in 1896 were $3,916, against $3,90i lu 1S95 and $3,157
in 1890; net earnings do $953, against $1,316 in 1895 and $780 In 1890.
Tin* company also retired during this period the nrixeipit
S t a t i s t i c s . — T h e operations and fiscal results and balance,
and interest o f car trust notes to the amount o f $95,307, leav
sheet for the recent year compares as below :
ing amount outs aridiog as per balance sheet below.
OrERATIOXS.
The calendar year 1896 included three months, January,
1806.
February and March, before the road had secured its entrance
1895.
1894.
1893;
into Savannah. Sine*1 the entrance into Savannah was ob- Miles oper. Dee. 31..
1,136
1,136
1,1.34
1,134
824,523
770,349
749,371
770,533
tni-.i •! the husimss o f the company has developed rapidly. Passengers carried,.
Pass.
oar.
one
mile..
34,289,522
34.002,213
30,721,098
34,020,196
1 lu gro-» earning- of the company for the six months ending Bate per pass. p. m.. 2-5589 cts. 2-5729 irts. 2-7074 eta. 2-561+ eta.
ItfM-mber 31,1895 (being the first alx months o f the current Freight, tone carried 1,902,585 1,851,799 1,534,304 1.730,831
ii-r il y. ar , on an average mileage operated o f 358 miles, Freight tons one ra.297,743,766 291,152,069 220,320,891275,950,662.
amounted to $525,165. The operating expenses and taxes for Kate per ton p. m... 1-1304 ots. 1-1814 cts. 1-2423 cts. 1-1 i.77 ot*.
F IS C A L R E S U LT S .
tii- Mime p rind were $MS,S$9, leaving net earnings of $179,1895.
1896,
1894.
8 7. The tiled charges for the six months amounted t o $125,1893.
*£
E a r n in g s —
$
$
$
sV.i i including inten se on the preference bonds, $86,775, inter Passenger...............
876,147
874,867
83B770
973,815
im on the consolidate d bonds, $58,125 rentals, §30,950), leaving Freight................... 3,365,928 3,439,866 2,737.631 3,084,481
Mail, express, etc...
207,960
the net income for the six months $53 957.
189,599
179,378
166,458
Rnlance sheet.—The condensed balance sheet as of Jan. 1,
Total gross earn. 4,450,035 4,504,332 3,748,829 4,224,754
1897, was as follow s:
.1
franchise,, real
est at e.
E xp en ses—
L im iM c s .
; ifommon stock......... $5,610,000
I Preferred stock...... 3,740,000
*quifitm*tifiA, e t c ..... $11,627,361 l-’.r •: mtg. p » f. 5s---- 2,431,000
JiteWswict
j first
5s, gold. 3,366,000
mi4 ImsoiIii—
Kflttlp. note*, inor, tot,
G. Ait, 1
pi,
201.00-0 j to maturity, due
OwlWM»L5*,, *.„,,». * 984,000 1897 to 1902.........
4S4.621
I .OOO.OCKJ Interest and rentals
OoUBtnee atomic..*, * 1,030.000 accrued, not due__
22,243
t&&> p&Mt a®t: absentOf1*
4,122 Earning* (July 1 to
Jpat*l July i iu Jim. 1bee. 31) ..............
525,195
0|wt,
amt taxea.
34S.38S Cidmutm* Southern...
96.242
IfileM ©a
.
04,900 Current liabilities—
30,950 Voucher- and nces.
C^nheul
#—
*■
payable...............
123,883
C**U . .................. .
52.478 Due to connecting
thh8 h j ssc«ato*......
31,382
lines..................
4,899
%*m b f oliter?*.......
10,380 Wages uncalled for..
951
tP0ki fey It. %, P©«t O,
0,0 *0 Loans and Mils pay
Oilnap
.....
223
able...........
112.815
liattttfaU atid
51,510 Profit and loss.......
23,007
Tf»l.itL...............i816.546,455
Total........... ........$16,546,455
Pass, transport’ll...
Freight transpor’n.
Motive po wer. .. . .. .
Mainten'oe of way..
Mainten'ee of ears..
General.............
214,172
505,440
813,433
1,161,864
322,407
151,729
129,567
8,120
206,649
575,997
787,4-23
839,96-1
359,947
142,223
127:757
10,000
209,169
462,274
742,466
850,018
175,386
141,458
124,346
10,500
Total.................
Net earnings........
c. op. ex, to earn.
Other receipts........
3,306,732
1,083,303
75-65
28,205
3,0 i 9,960
1,454.372
67-71
*19,490
2,722,217
1,026.612
72-01
37,197
3,078,435
1,146,319
72-86
36.949
Total income__
1,111,508
1,503,852
1,003,809
1,183,268
Taxes.................. .
Insurance..............Miscellaneous....... .
D e d u c t—
225,382
529.867
873,159
788.819
207,416'
133,941
121,573
18.000
120,278
Interest, on debt__
807,673
811,080
811,280
810,680
Dividends................ (4) 220,000 13)105,000 (3)165,000 (3)165,000
Miscellaneous.........
1,642
...........
1,103
11,325
Total..................
Surplus....................
cash assets pre
vious year............
1,029,315
82,193
976,030
527,772
977,383
SO,426
987,005
196,263
Add
754,812
335,374
333,601
323,281
The surplus revenue* to Jan, 1, 1837, together with the pro<>edi of tin* isjods s«id and balance of funds received from
Total..................
837,005
863,146
420,027
.519,5*1*1
the !li«dlwdd*'r*' Cominitture under tin* reorganization plan, Improvements, etc..
146,677
133,240
5,895
102,872
I- l.( till* Ablll't ii it* & \\ . : Balance..............sur.090,328 stir.729,906 8Ui-.414.132 sttr.416,672
*n *f Hit . in the uurcha:- •of the Columbus Southern By, the
BALANCE SHEET DECEMBER 31.
pure ha s'- and retlMuient of the equipment notes of the old
1896.
1895.
1894.
Savannah Americu* & Montgomery R y „ the purchase of adAssets—
$
$
$
diti- cal • jtti| mofit and for irnprovtments and betterments to
Cost
of
road
and
equipment.
1
6,231,368
16.229,593
16.229,593
tb>* pw{.®rty,—V, (U, j-., 843.
Cost of leased lines............ 9,575,429
9,525,845 9,429.769
Interest on bon d s............
807,673
811,080
811,280
Burlington Cedar R apids & N orthern R i l l way.
Dividends............................
220,000
165,000
165,000
Bunds mid stocks owned......... .
06,251
6*1 872
42 030
f Report f o r year ending Dec. SI, 1SS0.J
Bills receivable .........................
119,237
119,238
9,890
Tr* *;.lt rst C, J. i Vi - in the report says in part:
Ciwb....................
113,240
157,278
113,483
Cash
account*
and
miscellaneous
606,807
688,390
403,276
/'< *»,in:,•».f / inpror, meat * Tin* fits t hulf of the year showed Materials and fuel..............
317,50*5
210,889
153,552
* •»»*" • w w in earning* over any previous year. This,
Total............. ...............
with the baoil- iin* stirpltts o f 1895, led your directors to in28,057,030 27,072,186 27,303,474
Liabilities —
' fiBj.* the yearly dividend* from 8 per cent to 4 per cent, and Capital
-took........................... 5,500,000 5,500,000 5,500,000
#!-«. to •wUiortr.'i tb « ptsclog of 10,298 ton* o f b ' lb. ete* i n ils Bond* {see Sum.EM.BNT)........... 15,805.000 15,800,000 15,805,000
in track, thu* replacing light aad worn rail*. All our main Vouchera, pay roils, etc............
247,053
284,612
202,809
3,223,848
3,238,848
u-.. ■*.' *.!■• iif.w laid with *tc»-i. The replacing o f wooden AddSMims, iinprovt-.m’ta A equip, 3,223,348
Receipts In current year........... 1,111,508 1,503,851 1,003,809
tr ’ 11 '.ii'tnri ** by -.'ono and steel was pushed vigorously,
Income account....................... 2,109,621
1,568,449
1,054,874
• ‘1*' J
i-: bn«lge- were replaced with permanent
Mriicuutv.^ Bdoisting with gravel, cind-r# and stone, was
f ' •‘ if! 7 is >i- 1 of track. O f ties 231,WO oak and 147,000
" ,;* t w ,f*’ l **1' ' d in track, Tb-ri* heavy expenditures in
n ssr.t'a»i o s wav I sit r* -upi d in placing your rofrdway in
ctlrr
dox,ti than ever la fo ie . thu providing for handling
the trathe tti the n*>.*>t economical manner, The great decr«»w m ibf t n * of atecl rail* has induced your director* to
f rcvr for 189, *,V i*i tons, beli'-ving it betb-r to econo n it > in
»i j i Ihtr r i ii .*,f *: give lire track the t» n efltof the low price.
*v ' f ui dr -i - •ck car*, four «wi*ch * * vine* and 1fui-i*
Pf-t r a - t?i •?.«■ r ■i girn-* have teen advted to the sq u i^
Tr*1 *1
l« ebaraed to op-rating ixpiii***.
ad is !>: r » l --! ck f i l s are adding largely to the car m ile
Total...........................,,....28,0573330 27,972,186 27,303,474
—V. 02, p. SCO.
Chicago & West Michigan Railway.
(R ep o rt for the year ending Dec. SI. ISdGj
The sixteenth annual report i+ signed by Secretary Charles
Metriam, w ho save in substance:
General Results.—The geographical location o f this prop
erty makes it dependent entirely upon local business, The
cenimi rcial conditions have remained substantially in the
f-fcm« dull condition as duri ig the three years preceding, and
ti i !> has consrq *ntly resulted a decrease in gross earnings of
$8t,480.
IHE CflRONIOLE
May 15. !&'• 7..
919
B A L A N C E SH E E T D E C E M B E R 31, 1896The paeseDger traffic, in sympathy with the depressed move
A ssets—
L ia b ilities—
m ent of commodities, shows a heavy falling off, viz., $52,533.
Railroad,
equipm’t,
etc.$2,695,3l2 Capital stock................ $1,2,78,050
Car Ferry.—The plan for a car ferry is still under consider Stocks owned...............
38,050 Bonds..............
750,000
ation, but conditions are not yet favorable to its inauguration. Bills receivable............
17,945 Bonds and mortgages..
22,500
73,950 Bills payable...............
60,000
Financial.— The large percentage of operating expenses to “ Accounts receivable ”
Cash....... .....................
2,065 “ Accounts payable” ...
63,380
earnings is due entirely to small earnings, as a large increase Materials.....................
35,050 Miscellaneous..............
64,699
in traffic could be handled with little increase in expense.
Miscellaneous..............
111.154 Profit and loss.............
734,897
As the conditions which made it necessary in 1893 to pay
Total....... ............... $2,973,526
Total..........................$2,973,526
only half of the face value of the bond coupons in cash and
the remainder in coupon scrip still exist, the same course - Y . 62, p. 867.
will be pursued in regard to the coupons maturing May 1 and
Monangahela River Railroad.
June 1, 189?. This course has increased somewhat the mort
( Report for the year ending Dec. 31, 1896.J
gage debt and consequently the annual interest charge.
Eirnings, operating expenses and charges for 1896 compare
General Manager Charles M. Heald says in part:
Track and Equipment.—The roadway and tracks have been as follows with previous years;
1896.
1894.
1895.
maintained to the standard of previous years and special at
Y e a r e n d i n g D e c 31—
$
$
$
tention has been given to the ditching and embankments; but. Gross earnings.................
210,353
.210,353
206,695
229,985
.102,103
owing to the enforced curtailment of work upon the road dur ! Operating expenses......... .......
97,240
36,024
ing the past few years, increased care is now required to main
Net earnings.......... ................... 108,241
103,24!
109,455
143,961
tain it to the proper standard of safety, so that, notwithstand
C h a rges—
ing the most rigid economy, it has not been possible to effec Interest on bonds....................... , 35,090
35,000
35,000
35.000
3,270
3,042
any reduction in the expenses of the track department. The : Taxes........................................... . 3,215
total cost of repairs of roadway and tracks, including renew- I
Total charges...... ................... . 38,215
33,215
33,270
38,042
ala of rails and cross ties, was in 1896 $307,174, as against ! Surplus overcharges.............
, 70,029
71,185
105,919
$298,497 in 1895. The work done includes:
There has been expend© i for ae w o )33fcrucci jn and equip
New ditching made, 19 29 miles; old ditching oleaned out, 95*49 j
miles; main track ballasted, 36*52 miles; side track ballasted, 14*69 ment from 1893 to 1898 $858,178, leaving available assets on
miles. Three bridges and live culverts, with a total length of 133 feet, Dec. 31, 1896, of $77,094.—Y. 62, p. 867.
were removed and filled, making in all 10,050 feet of such openings
Xew England Telephone & Telegraph Company.
in the track closed since the commencement of this work, six years
ago. 151,426 feet of embankment were widened. No new steel rails
( Report fo r the year ending Dee. 31, 1896. J
were purchased or laid during the year; 339.217 cross ties and 334,017
feet of switch ties were laid; 35*75 miles of wire fence, 2 95 miles of
President Thomas Sherwin in the report says in part:
board fence and 2*37 miles of snow fence were built.
The year closed with a substantial increase of the number of sub
Twelve locomotives received general repairs, 16 heavy repairs and
62 light repairs. Eleven locomotives, old and too light for servioe, scribers connected with the exchange system. The construction at
were sold. The locomotives, including six belonging to the Michigan nearly all points is now of so substantial a character that interrup
tions of service due to wind or storm damage are of rare occurrence.
Equipment Co., now number 65, against 76 last year.
Lookiiig back over the records of the past ten years, we find that
Traffic.—Of the .traffic earned in 1896 lumber and products within tiat time the number of exchange statious has increased from
of forest contributed 44*06 per cenl; products of agiiculture, 13,525 to 29,484; private line contracts from 2,680 to 5,454 the mile
of exchauge wire from 12,303 to 60,908 miles, and that of toll line
16*71 per cent.; of animals. 1*71 per cent; of manufactures, age
wire from 3,092 to 20,801 miles. The number or yearly exchange con
8*97 per cent; of mines, 13*23 per cent; merchandise, 10*05 per nections has increase! meantime from 18,400,000 to 66,800,000, and
the toll liue messages from 444,700 to 3,029,000. Of the entire num
cent; miscellaneous, 5*27 per cent.
ber of exchange subscribers, 19,253 are now connected by metallic
Statistics.—Eirnings, expanse*, charges, etc., have been circuit.
The plan of measured service exchange rates has prove! so
compiled for the Chronicle as follows :
acceptable that we have recently decided to extend the system.
The expenditure for new construction during the year amounted to
F IS C A L RESU LTS.
$489,047, of which $124,095 was for exchauge aerial construction;
1895.
1894.
1893.
1896.
$145,318 for underground work; $67,583 for equipment, and $152,049
Total miles operated....... . 5 8 1
576
575
575
for toll lines.
K a r n i/ ig s —
$
$
$
$
The maintenance account has assumed large proportions, but when
Passenger........................ . 5 3 4 .6 6 2
5 8 7 ,1 9 5
5 8 2 ,1 2 8
7 6 4 ,3 3 8
it is considered that in addition to the cost of current repair every
Ereigbt............................ .1 ,0 0 1 ,5 7 2 1 ,0 3 3 ,5 4 9
9 1 1 ,0 7 2 1 ,0 3 4 ,4 5 0 telephone company operating under conditions of climate similar to
9 3 ,9 2 2
Mail, express, eto............ . 1 0 6 .3 8 3
1 0 3 ,3 0 3
1 0 3 ,3 1 8
our own must, in order to keep its property at the best standard of
efficiency, replace yearly one tenth of its entire plant, exclusive of
Total gross earnings.. . 1 ,6 4 2 ,6 1 7 1 ,7 2 4 ,0 4 7 1 ,5 9 6 ,5 1 8 1 ,8 9 2 ,7 1 0 underground conduits, the necessity for the large expenditure charge
E xp en ses—
able to this account becomes evident. We believe that the property
Transportation................ . 6 6 7 ,5 9 1
6 2 7 .4 6 3
7 4 8 ,9 2 5
6 5 7 ,8 5 8
was never in a condition of greater efficiency than at present.
Mala, of motive power., iJ 1 8 9 ,9 7 7 •)
7 2 ,5 9 7
6 1 ,4 2 2
8 9 ,7 1 7
An additional issue of $506,000 five per cent twenty-year debenture
Main, of cars..................<
1 1 8 ,1 5 7
1 0 8 ,5 0 1
1 0 8 ,0 1 5
bonds, seventh series, was authorized early in the year; $350,000 of
3 3 0 .4 6 4
3 8 2 ,5 4 4 this issue, together with the remaining $50,000 of the sixth series have
Maiu. of way, etc............ '. 3 0 3 .7 7 7
3 7 9 ,1 2 5
General and taxes........... . 1 0 0 ,1 3 1
1 7 6 ,3 5 9
1 5 0 ,3 9 6
1 6 4 ,4 5 5 been sold. Of the stock held in trust for the benefit of the company
(2,310 shares) 200 have been sold, and proceeds used for construction.
Total.......................... .1 ,3 2 1 ,4 7 6 1 ,4 0 4 ,0 9 7 1 , 2 7 7 ,7 6 0 1 ,4 9 4 ,1 4 3
The necessary expenditure for maintenance and extension of the
Met earnings................. . 3 2 1 ,1 4 1
3 1 9 ,9 5 0
3 9 8 ,5 6 7 plant during 1897 are estimated as follows: For new construction,
3 1 8 ,7 5 8
$500,000;
for maintenance, $1,000,000; total, $1,500,000.
P. c. of oper. ex. to earns. . 8 0 4 4
8003
78*94
8 1*4 4
Statistics.—Results of opf rations were as given below :
INCOME ACCOUNT.
1896.
1895.
R ece ip ts—
Net earning..................
*
1894.
$
$
* „
3 2 1 ,1 4 1
3 1 9 ,9 5 0
3 1 8 ,7 5 8
3 9 8 ,5 6 7
4 0 8 ,3 6 4
O r. 1 .4 9 6
4 0 0 ,5 2 8
4 ,6 0 6
3 9 3 ,5 7 3
6 ,9 2 3
3 9 2 ,4 9 0
3 ,9 0 3
D is b u r s e m e n ts —
Interest on debt............
Miscellan. interest.........
4 0 5 ,1 3 4
3 9 6 ,3 9 3
Total disbursements.
4 0 0 ,4 9 6
4 0 6 ,8 6 8
B a l a n c e ................................... d e f . 8 5 ,7 2 7 d e f . 8 5 ,1 8 4 d e f . 8 1 ,7 3 8 s u r . 2 ,1 7 4
BALANCE SH E ET D E C E M B E R 3 1 . 1 8 9 6 .
gi s’s'f't
L ia b ilitie s .
Construction. ........!..$11,107,460
Const, and equip. C. «fc
Nor. M. RR............. 1,809,880
Equipment................ 1,503,485
Mich. Equip. Co.(Lim.)
293,000
Trustees id. E’t. Co...
4,000
•Investments.............
843,621
Cash...........................
99,376
Bills receivable..........
208,727
Union Trust Co., N. Y.
665
Balance of open accts.
125,253
Materials on hand......
80,215
Suspense........................
28,103
Income account.........
11,992
Capital stock............. $7,511,800
F u n d e d d e b t (S e e S u p
p l e m e n t ) .......................
Accrued int., not due.
Unpaid coupons.......
Unpaid vouchers.......
Taxes.........................
Sinking fund Mich. Eq.
Co. (Lim.)................
8 ,1 8 7 ,0 7 5
41,827
175,041
149,258
30,777
20,000
Total assets......... $16,115,778
Total liabilities... .$16,115,778
‘ 8,335 shares C. No. M. RR. stock, $810,000; 336 shares Mus. Lake
-RR. stock, $33,600; miscellaneous, $21.—V. 64, p. 842.
Wilmington & Northern Railroad Co.
( Report fo r the year ending Dee. 31, 1896.J
Statistics. —E iroiogs, expense, etc , were as follows :
L A R N IN Q 8, E X P E N S E S A N D C H A R G E S.
1896.
Passengers............................... . $72,405
Freight................................ .. . 365,655
Miscellaneous........................... . 25,677
E a rn in g s fr o m —
1895.
$76,149
386,609
25,557
R E C E IP T S AN D E X PE N SE S.
1893.
1894.
$76,011
338,160
25,979
Total.................................. . $463,737
Operating expenses................ . $397,500
Tarea.......................
5,867
Total.......................
. $403,367
Net earnings............................ . $60,370
Interest on bbnds and debt...
45,240
Rental...............................
4,516
$488,315
$410,579
5,611
$440,156
*116,420
*71,893
38,500
*<78,196
*61,960
38,550
Total.................................. . $49,756
Balance, surptns..................... . $10,614
$38,500
$33,395
$38,550
$23,410
1896.
$
Exchange service................
Toll service........................... ....... 475,258
60,747
Private line earnings........... ........
Messenger earnings..................... 31,135
2,289
Real estate revenue....... ...... .......
13,971
Interest................................. .......
19,023
Miscellaneous revenue...... ........
1895.
$
1,929,568
386,891
51,970
25,919
2,308
18,216
15,230
1894.
$
1.769,913
298,670
52,025
17,570
2,250
16,577
15,215
Total............................... ....... 2,780,652
R even u e—
2,430,102
2,172,220
334,719
443,988
964,203
199,432
11,416
31,655
1,114
189,190
282,909
383,174
840,732
164,296
11,275
26,202
1,688
162,052
261,670
313,864
676,219
253,808
7,534
16,993
1,145
142,525
Total............................... ........2,175,717
Net revenue.......................... ....... 604.935
Dividends............................. ......... 508,180
Rate of dividend..................
1,872,328
557,774
457,362
(4*3 p. c.)
1,673,759
498.461
415,784
(4 P- 0.)
96,755
100,412
1, 1897.
E xp en ses—
General and taxes................ .......
Operating.............................. .......
Maintenance......................... .........
Rental and royalty............... ........
Private line expenses.......... ........
Messenger expense............. ........
Real estate expense.............. .......
Interest................................. .......
Balance, surplus.....................
B ALAN CE S H E E T J A N U A R Y
A s s c ls
Prop.«fcfran.Jan.lt’96.$13,605,338
Construction 1896__
489,048
Supplies.....................
281,056
Real estate .............
25,219
Stocks and bonds......
30,000
Trustee stock.............
211,000
Accounts receivable..
671,364
Cash...........................
154,214
Total.......
8 2 ,6 7 7
L ia b i l i t i e s .
$15,467,239
Capital stock..............$10,394,600
Surplus ................... 1,011,361
Bonded d e b ............... 3,309,000
Accounts payable__
300,554
Reserve......................
451,724
Total
$ 1 5 ,4 6 7 ,2 3 9
—V . 6 2 , p . 9 0 6 .
American Tobacco Company.
( Report fo r year ending December 31, 1896.J
The Treasurer’s report says :
“ The company has retired during the year $273,000 com
mon scrip and has issued $3;58O,00O dividend scrip bearing
interest at 6 per cent per annum.”
learnings and Balance Sheet.—The earnings and balance
sheet have been as follows :
THE CHRONICLE.
8 5 0
AS3$|3Ki*, ETC.
|
St r e e t R a il w a y s .
'[V O L . L X I V •
j
Str e e t R a il w a y s —(Con.)
Austin { Texas) U. T .........rtevr. 422 j Bun Blrm. Land * lilt....... sole. M*
jiDlk? Cuy Ht. Utaolwe.Wl*.) rm rg. 010 I Englewood A Otitc. K1.., recvs. ctfr. 4S8
\\rikrantlno
— ....... ,mhl» 873 j Fourth St, A Arsenal ( 8t.L,..Freer, oil
5,069.410 ! Briw-klfo m ...... Tjfitvr.; rtm&. plan; 600
Tootde’a Ratlwav.. j do rtorg 613
3,871.521
e»l
SW
l n* coups,CSA{ 4t^Kfienalty,7m,m’Z,
I Gouysbttfgr Electric Kv----- fa rt at 883
954,800 i BsirilaiTtou ita '»JidQtile...... *©1*1. ?5J | Htfihlati.t Ave. A Unit (Binning
I«¥\4c^4-*
But-to Oo»%«*i. St. Ky.
/ora l. 008
h»<n. Ain.)..................... .new. 707
tVitto # i l.on.’ooo cL2)‘i ,l 18,000 Calumet
MnK'*(**>p.*r! IX A W. .. Ar/.. r/evr. TOT
Elec. St...ini. M a y l, 708;
I * ! t » &Ur*HillX6t»(i
*'
rrcer, 887 Ilumillia! iM'-iSt. Hy.TrpartedMid, 010
C
apital*Ity.
(Ffiinkfort
KyJl+,.mti*. 422 _____
Indianan,
A Broad
Bln
Ot’ t
_____
___
__,r-eer.aitfratt.
-......
3,102,800 Citizc11h” l‘rae.(Spfl,-J)i^p.Cn1.>rtenrA 22 M
“*et.
.....
Wc*8 S
............T
trip Kl.(ClRe.li...
ill • reory $11
2t5$0,44O
1,966,610 Col. & Maryland Ry. (BaltiO.j.rrorp. 610 South Jor«ay Trae.- .a-.rUWJ?; rwrd. 887
•44*4,177
3,402,<wi
5,333,062 Colwrabus <0.>Ce»itml Ry... J'oreci. 842 j Tacoma By. & Motor.......... ,mUL 665
£f*l®WJKS/l. >'*♦■.**.-•.-**«*
Datliia City Street. .......,.rc<vr. 507
■7,299,678
AintriCrtit Well I'elephotit*.— BcHim-r Patent Upheld by
g(000f37l
»w at .......... ....
United States Supreme Court.— The Utdted 8 at-s Supreme
jA, i y it* <*umm*
p.
7,290,678 Oouit oo Monday, in an opinion delivered by Justice Brewer,
600,371
5.SS4.M0
u* elded the famous Berliner patent cas ■in favor of .the com
■wwbMmx SHEET .DICKMB!Eli 31.
pany. Justice Harlan dissented. Justices Gray and Brown
1894.
1895.
tooK no part itt the case. The Berliner patent, all interest m
$
which Was assigned to the comp my in 1378, was firs’, applied
t>Ai
siieU&Ary. fix'
irflWWl. ttt&MKteft*
for in April, 1777, but was not granted till Nov. 17, 1891, thus
securing
to the company the benefits of its prop ction for sev
^. .36,1*30.^54 36.977,120 35,255,208
enteen
years from that date, viz., till Nov. 17, 1908, The Gov
in jarelg» emmtrto*-. ... 1,*2ti7»018
1.909.559
800,537
1,^43/2W3
1,535,711 ernment brought suit to have the patent set aside, but the
1,740,280
Supreme C urt, sustaining the lower court, now holds that
38.700,596 there was do evidence of corruption or undue influence
40,782,607
f*Rat
........... ,*, i.-,,, ...41,153,714
or of fault on the part of the comp,toy to account fur fte
. . 17.000,000 17,900.000 ,.17,900.000 delay in granting the patent. It holds tha’ whatever delav
........*273,000 1
11,935,000 tn.te has b* en was through the fault of the Patent Office and
11,935.000
.. .11,1)35,000
182,000
1*2,000
by no fault of the company.
775,700
242,340
... 770,340
The Berliner patent, it is said, “ practically covers the
238,419
585,962
207*904
cttrmii, payable..
272,103 gr* und of the first Bell patent, which was granted March 8,
629,479
ins 157.190
279,694 1876." The other fundamental patents having expired, it has
434,4.55
191,024
jut «cr; iMiut Miiti............... . ...
35,000
been exp* cted to protect the company from free competition
7,299,678 until November, 1908.
8.600,371
1895.
1804,
Would be competitors of the company say that the decision
merely acquits the Company of the charge of fraud in con
•Rf.'f-t in 1806.—V. M, p. 063.
nection with the issuance of the patent, but does not establish
tbe validity of the patent in other respects. Similar patents,
Eric Telegraph 4: T elephone com pany.
they claim, have expired in foreign countries, and, therefore,
in vi* w of rrcent decisions, they pro'ess to believe that the
'Report for year ending Dec. 31 1S9G.J
Berliner patent will finally be set aside. The friends of tbe
Ttse r«:p n of this company for the late fiscal year vtas company, however, express no fear on this score and are
fivers at much Ungih in the Chnosocle last week on pages imicn elated over the victory jusi attained.—V. 64. p. 797
if .' >h< wit g Clearly the giowth m busiueaa and
American Groc ry Co —Meeting May S3 to Consider Disso
earn ini, ~ of the three propiietary companies from wbictt the
Kr I- r , ,,-graph & Telephone O . d* rives its income. Cotta for lution.—President T. L. Marsalis, “ by order of the board of diin-tar.!'.- the Cleveland Telephone Co., operating in the county rectots”. has called a meeting of the stockholders to be held
of Ctjyaho.r:i, Ohio, including the city of CbT<land, exhibits May 22. 1897. to consider disposing of the business. A circu
an ir.or> . ... of sub-crib**ra from 3,936 Dec, 31, 1894., to 4,681 lar says in subuance :
F. r several man til- past David Hunt, a former director, and H. Apl¥c 3 1 .1WW, or over 18 per cent. The Northwt stern Tele lington,
a former attorney for the Xhurber- Wliylau'! Co., and some exphone Exchange Co. also, emt racing Minneapolis, St. Paul, employes, have been tun suing a course detrimental to the company.
etc , etc., show* an increase in subscribers of over 19 per cent, On April 12,1897, a bill drawn by H. Apllngton was tiled on complaint
and tin* s, uthno g'i rn Tehgrapb & Telephone Co., with lines of David Hunt, representing forty-four 3liaraa of stock out of a total of
35,000 shares, for a receiver for tUe company. Judge Kirkpatrick decovering all the important points in Texas, has an increase of oided
that no receiver was necessary. The li stile attitude of these
no !• --» than 50 [.» r cent, the latter company having at present parties for s -veral months past made it necessary to reduce Clin volume
over 10,000 t*ui soribert*. Nevertheless, through a mi-take in of business and otherwise take steps to prevent a sacrifl.ee of the assets
oredltors, and, bad
had it not been 1that the liabilities of the company
our compilation, the earniDgs of the sub-companies, as pub by
srerc only about $5Q.0(,0 when this
Alia suit was b ought, the business
ic-bed in this column last week, were made to show a decnase
tilt by attaohlng (__ . _ _
compared with 1883 instead of the increase of 11 per cent party now owes only about *30,009, and if not interfered with by
that really exinted. The results for the Erie Company itself, these parties its liabilities will be entirely discharged in a few days.
attacks have so Injured the eredtt and trade of the company that
however, were correctly given, and on page 900 the full These
it is practically impossible to continue the business, ami in view of this
otlic »! statement explained in defatUhe nature of the results. fact a meeting of the stockholders is hereby called, to be hold on the
22d day of May, 1897, at 12 o’clock noon, to oonsider the advisability
The revised figures are as follows:
of disposing of tbe business.—V, 64, p, 887
SUB-COMPANIES.
An erican Tobacco.— New Directors.—A t the annual meet
1890.
1805.
1894.
1,085,890
OroAA tnmmA...
1,033,619 ing May 12 Ernst Schmeisser was elected a director in place
. .. . . . . . 706,135
835,258
038,483 of G. W . Gail, w ho retired. The other three directors whose
KeJ «Anitaii*.
. .. . .. . . 500,012
450,638
395,136 terms expired were re-tii ettd. Messrs, Marburg and Ginter
IB.fWntif-iji..•«*•*«
403,625
352,375 also resigned from the board, and were replaced by Herman
Ellis and J D. Gobb. The report is given on another page.—
47,013
42,761 V. 64, p. 868.
BRISKTBLXOSIATII A TELETHONE OO.
A tla n tic & P acific RR.— A tchison Topeka & Santa Fe
1806.
1895.
1894.
275.337
FtaparUm Gf dlfttod s rac’d. 31*1,914
240,667 Ry —Suit o f Incom e Bondholders.— The committee represent
nxe4 eh»JP$m &Qdfttp**t,***,... 106,27*
60,855
25,756 ing the Atlantic & Pacific (Western D iv.) Incom e bond
holders, through their counsel, Henry Crawford and William
......... 208,040
214,482
214,011
j»al4
... . .. . .. 102,000
102,000
192,000 Sirauss, have brought suit in the Supreme Court o f this State
agaiiist the Atchison Topeka Sc Santa Fe Ry, Go. and others,
BAlaupr, surpl'Bi:*.... . . . . . . . .
10,640
22,482
22,911 to obtain a decree declaring said bondholders not to
-V . Si, p. *87, MK)<
be cut oil by the foreclosure of the first mortgage, and
permitting them to acquire the property by redemption. The
contention of tbe bondholders is that the reorganized Atchison
GENERAL I N V E S T M E N T N E W S .
Company is virtually the old A tchison Company and was or
ganized under a plan to obtain the asoetsof the old coporation
Kwin-anlr.«tIons, Etc.-L a lm t Data an to Default*, Reor- aud the properties it controlled, and to cut off certain cred
a : .. -.ition tin . , payment of Overdue Coupon*, Etc.—All itors and junior lien holders, including tbe incom e bond
facta of thi» nature appearing trfnce the publication of the last holders. The plaintiff’s complaint asks for such accountings
butts of the iJtvEBtOKs' and Sthkot Railway S cpplemknts and injunctions as may be necessary to protect their rights in
to .• ' readily found n> tutsans of the following index. This the premises.
A tlantic ct- Pacific J Per Cent Ouar.mteed Trust Bonds.—
index doe* not includi- matter tn today'it Chronicle,
On behalf of outstanding bondholders, Messrs. Whitehouse &
llAtt.i
as arm Mtackl. <x
Railroad and Miser. l Oo's (Con.) Co., 25 Broad Street, New Y ork City, have invited others of
I'ag*
Yoiuif*6 04—
Potfjf■.
V m .lf * . N. A , *% Ch. .final injefahn't. 766 tbe same class to co operate for the protection of the rights of
A Oi*r}»-«um j a n d , flay 780 holders of A . & P. (Western Division) 4 per ceut guaranteed
.%anjtfrBff...u>iu>,.ii WM
H. Y. CmL A H. H, i , s ,
■pr.Mpi[
S. V A iiartsm.....!rr/u»d. iifan. 755 trust bonds not heretofore deposited with the State Trust Co.
1*^*4*-''*. Ill ***J'"t .
t»rVS^W. mi i UrsHhmM^m U.H. a t Gtd... .rttpr. RUT Under the action of the committee and trustee the only return
Omgtm Im vrovm a ’t. rmrg.&XK M 3 , un?
CIrf
* AJIM
m..... .4m. rt&mn
tmcnslavyo Fft-lis .tf iUO . H, *r,Jd. Tfj/t offered to such bondholders is about (not quite) ten cents on
$§**&* m p #v,F*€
j^sm*m fp&Jm
Qn’m c f
M K. C
mid, m o
*$kWmi MRtiJgRiJi *.. mmi
m*. I*. V6T.4aiS.fi MT. H,____ mup, M3 the dollar. There are about $387,000 bonds outstanding. It
C# * ’• * * - • ' %H*c% 5 « * » * ,. re-«;
is proposed to test the regularity of this matter.— V, 64, p. 887.
B tntw h,...... __ mslt* 758
fnm *
Conw,t
Co... ,rfw K*4
* it ?,
ikwmit 7B4 i: CWool^uoLtf.U*of lmi
B altim ore & O hio R if.— New Dock* at Chicago and Mil
W
®
r
»
tn
*A¥
im *Mi,,tr,n*ofJWlx#mtM4, 90S
ftar« ; &|urn fv 'e I*;! i »:*$*•&
. W i 6© £#U.. $jt, R$, 0/ IWW», ..... SKIS waukee.—The com pany has secured possession of dock prop
im a m
\
& 8 . W .,J>
; Uotoo P»«. M ir «» 0/ 1S70....... P02 erty at Chicago and Milwaukee for its new lake liae from
it «8af«#
!
lx*- StuaiM OoitiM....jmet, 799 Fairpott, O. One of tbe Milwaukee docks has a corrugated
MMm Twmi i A MM*. .*.
K*« M
................ io r S ^
s?i^ m I Ws.»c<tri^» Central. ,
»
,
mi iron watehouse 300x200 feet, Another dock on the Menominee
Total UahSttllw................ 41.163.7U
40,782,607
38,700,504
THE
May 15, 1897.]
CHRONICLE.
River has a slate-covered warehouse 325x60 feet. The
Chicago dock is at the foot of Illinois Street and has 200 feet
frontage on the river. Its storage capacity is estimated at
3,000 tons.—V. 64, p. 841.
Baltimore Traction.—City & Suburban Ry.—Lake Roland
Elevated R R .—Meeting May 2 2 to Ratify Consolidation.—
Tne stockholders of these companies will meet May 22 to
ratify the consolidation agreement. The terms of the merger
have not been officially announced, but it is understood that
the agreement has been signed by T. Edward Himbleton
and John M. Nelson, representing the Traction Company,
and Frank Perin, of Cincinnati, and Michael Jenkins, of
Baltimore, for the City & Suburban. It is further understood
that the Traction Company’s stock will be exchanged at a valuation of §22 per §25 share for the stock of the new c mpany,
while the City & Suburban stock will be exchanged at par.
The *•Consolidated Traction Company ” , as the new company
will probably be called, is expected to have a capital stock
issue of about §9,000,000. It will assume the bonded in
debtedness of the lines merged to a total of $10,550,000.
but it is said will not issue bonds of its own. The com
bined roads will aggregate about 190 miles of track.—V. 64,
p. 753, 799 ; V. 62, p. 547.
Boston & Albany R R .—Quarterly.—Earnings for the quar
ter and the nine months ending March 31 have been as folio ws:
3 m o n th s
G r oss
en d . lia r . 3 1 .
ea rn in g s .
1 8 9 7 ..............
$ 2 ,0 2 8 ,7 1 6
1 8 9 6 ...................... 2 ,0 7 2 .5 8 5
9 m o n th s —
1 8 9 6 - 7 .................... $ 6 ,7 2 7 ,4 5 9
1 8 9 5 - 6 ................ 7 , 0 0 6 ,3 7 2
—Y . 64, p. 286.
N et
e a r n in g s .
$ 7 6 4 .b 3 9
7 8 7 ,5 2 8
I n te r e s t ,
ta x e s , e tc .
$ 1 3 4 ,8 9 1
1 4 8 ,1 6 9
B a la n c e ,
su rp lu s
$ 6 2 9 ,7 4 8
6 3 9 ,3 5 9
$ 2 ,4 8 9 ,9 1 2
2 , 6 7 2 ,6 2 0
$ 1 ,0 1 0 ,5 4 8
1 ,0 1 5 ,3 0 3
$ 1 ,4 7 9 ,3 6 4
1 ,6 5 7 ,3 1 7
3 m os. en d .
G r o ss
M a r . 31— e a r n i n g s .
1897......... $134,477
1896 .......
134,911
9 m o s. 1896-7...... $121,935
1895-6......
411,066
—Y. 64, p. 286.
951
N et
e a r n i n g 8.
O th er
in c o m e .
$115,295
112,821
$3,423
3,452
$37,465
35,259
$1,223
1,183
In te rest,
ta x e s , etc.
B a la n c e ,
s u r p lu s .
$77,526
76,934
$41,192
39,339
$25,842
25,645
$12,346
10,797
Central Washington RR . —Foreclosure Decree.— Judge
Hanford of the U. S. Circuit Court, at Spokane, Washington,
has signed the decree of foreclosure. W . J. C. Wakefield has
been appointed Master in Chancery to make the sale within
sixty days from June 7. The property will be purchased by
the bondholders’ committee, and a meeting of the bondholders
will be shortly called.—V. 63, p. 1114.
Chicago & Northern Pacific RR.—Sale Confirmed—Judge
Jenkins of the United States Circuit Court has confirmed the
sale of the property to the reorganization committee. The
sale took place Nov. 17, 1896, the bid being $8,000,000.—V. 64,
p. 888, 898.
Chicago Packing & Provision.—Annual Statement.—The
report of the English directors shows:
Dividends paid or due on the shares held by the company £25,000;
profits over expenses £ 24,123. which, with £16,807 brought forward
last year, makes a total of £4o,930. Dividends paid April 30 and Oot.
31,1896. absorbed £32,000, and a dividend at the rate of 8 per oent
on the preferred shares for the half-year ending April 30,1897, con aumes £8,000, leaving a surplus of only £930. The directors “ regret
that the amount available for dividends does not permit of the pay
ment of a final dividend on the ordinary shares.” The English Com
pany has outstanding ordinary shares £200.000, and 8 pe^ cent cumu
lative pre erenoe shares, £200 000, and owns shares of the Chicago
Packing <fe Provision Co. and H. Botsford & Co. (subject to an existing
mortgage for $550,000), which were purchased at a cost of £399,700.
- V . 61, p. 924.
Chicago Street Railways.—Defeat o f Humphreys Bills.—
A press dispatch from Springfield, III., says mat the Hum
phreys bills, to permit the extension of franchises of street
railways in Illinois fifty years and vesting the control of ex
3 m o n th s
G r o ss
N e t O th e r
I n te rest,
B a la n c e ,
e n d .lia r .3 1 .
ea rn in g s ,
e a r n i n g s , in c o m e .
ta x e s , etc. s u r . o r d e f .
isting lines and new franchises in boards of commissioners
1 8 9 7 .......... $ 4 ,2 3 8 ,7 7 5 $ 1 , 2 6 4 ,9 9 4 $ 1 1 3 ,9 4 1 $ 1 ,3 3 8 ,1 2 3 sr. $ 4 0 ,8 1 2
instead of the aldermen of the various cities, were killed in
1 8 9 6 .............
4 ,2 7 5 ,1 1 1 1 ,0 0 4 ,9 7 7 1 4 4 ,2 8 2
1 ,3 0 0 ,2 7 5 d f. 1 5 1 ,0 1 6
9 m o n th s —
the Legislature on Wednesday. The enacting clause of the
1 8 9 6 - 7 . . . . $ 1 4 , 6 5 2 , 0 1 7 $ 4 ,5 0 4 ,5 6 3 $ 4 0 2 ,2 6 6 $ 3 ,9 5 2 ,3 3 5 s r .$ 9 5 4 ,4 9 4 first bill was stricken out by a vote of 133 to 39. Similar ac
1 8 9 5 - 6 . . . . 1 5 , 4 3 2 ,0 7 0
4 ,5 0 1 ,3 8 9
4 6 2 ,8 8 5
3 ,9 0 1 ,8 3 5 s r. 1 ,0 6 2 ,4 3 9
tion was taken regarding the second bill by a viva voce vote.
— V . 64, p. 329.
Substitute bills are talked of.
Brooklyn Elevated RR.—Listina o f Reorganization Cer
Citizens’ Street RR. o f Indianapolis.— New Directors and
tificates.—On the New York Stock Exchange lia^e been listed Officers.—At the annual meeting in Indianapolis, Ind., May 11
certificates of deposit for the following assented bonds:
a new board of directors was elected, composed of the Philadel
•---- B r o o k l y n E l e v a t e d ---- . U n io n E l. S e a s id e d B .B . phia men, W. W . Kurtz, Kennedy Crossan, R. H. Rushton,
1 st i f .
2d X .
1s t M .
1 st Jf.
W. C. Houston, Joseph A. Neff, F. Dundore and W . J. Tur
D e p o s i t e d . ........... $ 3 ,0 3 5 ,0 0 0
$ 1 ,1 2 6 ,0 0 0
$ 5 , 2 1 2 ,0 0 0
$ 1 ,2 4 5 ,0 0 0
ner. Only the last two were members of the old board. Mr.
T o t a l I s s u e ........... 3 ,5 0 0 ,0 0 0
1 ,2 5 0 ,0 0 0
6 , 1 5 0 ,0 0 0
1 ,3 6 5 ,0 0 0
—Y . 64, p 887.
Crossap was unanimously chosen President, succeeding A. L.
BafTalo (Street) Railway.—Quarterly.—Earnings for the Mason. The General Superintendent, Treasurer and Electric
quarter and the nine months ending March 31 have been re ian were re-elected.—V. 64, p. 843.
Commercial Cable Co .—Listing o f Bonds.—As already stated
ported as follows. These figures do not inolude the Cross
town Street Railway, 76 miles :
in this column, the company has listed on the New York Stock
Of the authorized
3 m o n th s
G ross
N et
O th er
I n te r e s t ,
B a l a n c e , Exchange §13,000,000 of its new bonds.
e n d . M a r. 31.
e a r n in g s . e a r n i n g s .
in c o m e .
ta x e s , etc.
s u r p l u s , loan of §30,000,000, §16,000,000 have been issued, but of this
1897............. . $323,076 $L50,613
$5,959 $ 06,4“ 4
# 5 0 ,0 9 8
latter amount §3,000,000 have been returned to the company
1896............. . 335,154
103 821
161,716
6,183
6 4 ,0 7 8
and canceled in exchange for debenture stock.
9 m o n th s —
1896-7.......... .$1,011,794 $499,867 $17,993 $318,925
Ihe bonds are secured by a first mortgage executed by the
1395-6........... . 1,025,167
522,977
18,293
314,076
227,194 Commercial Cable Co. to the Farmers’ Loan & Trust Co. of
Loans and bills payable March 31, 1897, $163,100, against New York, as trustee, covering :
$763,029 on June 30, 1896.— V. 64, p. 329.
( a ) The property or the Commercial Cable Co., Including Its tripli
Boston <b Maine RR.—Quarterly.—Eirnings for the quar
ter and the nine months ending Mar. 31 have been as follows:
Cambria Iron Co.—New Bonds.—The circular sent out by
the company regarding the new bond Lsuesays in part:
The stockholders on Jan. 16,1894, authorized the directors to issue
$2,500,000 of bonds whenever deemed advisable. The magnitude of
the company’s business is such that it is not thought prudent to bor
row money from time to time to conduct it, and in order to pay off the
present loans and provide funds for ore property about to be pur
chased and for additional coke ovens and improvements to be made at
Johnstown the directors have decided to offer to the shareholders
$2,000,000 of the issue of $2,500,000 of bonds (the balance, $500,000,
being held in the treasury at par, the proceeds to be applied as fol
lows: To pay off loans at present existing, $1,300,000; to pay for ore
property In the Mesaba District and improvements at works, $700,000.
The following is the proposed wording of the bonds:
The Cambria Iron Co. acknowledges itself to be indebted to the
hearer or In case of registration as hereinafter provided to the regis
tered owner in the sum of $1,000 lawful gold coin of the United States
of America of present standard weight and fineness, which sum the
Cambria Iron Co. promises to pay in said gold coin on the first day of
July, 1917, together with interest thereon at the rate of 6 per cent
er annum, payable iu like gold coin semi-annually on the first days of
anuary and July in each year until the payment of the principal as
herein provided, said principal and interest to be paid free from all
taxes imposed thereon by the laws of the United States or the State of
Pennsylvania which the Cambria Iron Co. may be required to pay or
retain therefrom.
This bond is one of a series of twenty-five hundred bonds of $1,000
each and of like tenor issued under the terms of an agreement bear
ing even date herewith between the Cambria Iron Co. and Powell
Stackhouse and Edward T. Stotcsbury, trustees, by the terms of which
it is i n t e r a l i a provided that the Cambria Iron Co. shall have the right
on and after the first day of July, 1902, at any interest period after
thirty days’ notice given by advertisement, to redeem this bond at par,
as in said agreement is particularly provided, and in which agreement
the Cambria Iron Co. doth covenant that no mortgages shall be placed
upon its property or franchises until a mortgage securing the bonds
issued under this agreement shall have been executed with a p ior
lien on all of said property and franchises.
This bond shall not be obligatory upon the Cambria Iron Co. until
the certificate hereon endorsed shall have been signed by the trus
tees, and is subject to registration as to the principal thereof upon books
kept by the Cambria Iron Co. for that purpose.
witness the corporate seal of the Cambria Iron Co. and the signa
tures of its President and Secretary this first day of July, 1897.—
V. 64, p. 753.
J
Central Crogstoivn RR. - (N. Y. City).—Quarterly.—Earnings for the quarter and the niqe months ending March 31
have been reported as follows :
oate system of submarine telegraph, comprising 9,110 miles of cable.
( b ) All the telegraph lines, property and assets of the Postal tele
graph Cable Co., said telegraph lines being about 90.000 miles In
length, all of which are free from other bonded indebtedness. These
telegraph lines are secured to the trustee of the mortgage, not only by
the mortgage covering all these lines but al o by the deposit with the
Farmers’ Loan & Trust Co., as trustee, of the capital stock of the Postal
Telegraph Cable Co. itself, amounting altogether to 150,000 shares of
$t 00 each, nearly all of which has already been deposited with the
trustee of the mortgage. In addition to the above there are about 28,Q00 miles of telegraph lines which are owned by subsidiary companies.
The shares of stock of these subsidiary companies were owned by the
Postal Telegraph Co. and have all been transferred to the Far
mers’ Loau & Trust Co. as trustee under the mortgage. Certain leases
by which the Postal Telegraph Cable Co. operates telegraph lines
about 8,733 miles In length are also covered by the mortgage.
' e j All the income of both companies.
The Postal Telegraph Company’s earnings are as follow s:
R e c e ip ts .
N et c a m s . I T ea r.
R e c e ip ts .
N et ea rn s.
T ea r,
1896........ $4,473]084
1895........ 4.321,296
$579,182 1894...... $3,754,233
617.863 |1893...... 3,565,293
$596,581
537,272
[For earnings aDd balance sheet of Commercial Cable Co.,
see ihe annual report in Chk iniCLB of March 30. 1897, page
565, the combined net earnings of the two companies for 1896
being $1,755,747.]
Other facts furnishi d are as follows :
The Commercial Cable Co. has a reserve fuud whioh at the present
date amounts to $2,292,820, and more than two-thirds of which is In
vested in United States Government bonds, real estate bonds and firstclass railroad bonds, and the remainder in stoobs. The real estate
Ponds consist of $250,000 of the $1,000,000 of the 4 per oent 20-year
first mortgage gold bonds of the Commercial Cable Building Co., which
owns the new building at 20 and 22 Broad Street and 18 and 20 New
Street, In the city of New York.
Tlie property covered by the mortgage runs through or into some
thirty-eight States of the Union and also foreign countries. The mort
gage has been recorded in New York, Chioago, Philadelphia, St. Louis,
Boston, Buffalo. Providence, Rochester, Springfield, Syracuse, Bookport, Mass., anil Guysboro (Canso), N. S., but In order to obviate the
necessity of recording it in all the States, the mortgage provides that
the title to the property (subject, of course, to the mortgage,) shall be
deeded to a subsidiary company, and that all the shares of stook of
that subsidiary company shall be deposited with the trustee of the
mortgage as additional security under the mortgage. This prevents
any future debt or obligation of the Commercial Cable Co. taking pre
cedence to the mortgage debt, for the reason that tho title to the mort
gaged property will not he vested in the Commercial Cable Co. The
only property held abroad is the landings, buildings and electrioal ap
paratus at Waterville, Ireland, and Canso, Nova Sootia.
THE (JHIU)NI LE,
fV 'o u L X iY
tor -1 par cent debenture stocks $1^0.000; Ormtrul Vpnnmir ttii ena u m stock. $^50,000 j
*s«<eK tor mob #1,000 of Mud*. Oculrai Vettoout RE. notes, $114,775. —V. 64, p. 423, 606.
,• i„ c.-rtsUvatv* of to* denomination at £1
I llin o is C on trol R a ilro a d ,—Im portant Bond Transac
2*“£a*»
•isn-ieriiii:,' *.»•« rwtvUnr tntorou o ily In loin
,t 1 ,, v*_ /►_* »j
j*.
m»iubtl»r'«i <*111 JllfWI* tion ,—The follow in g official statement was made on Thurs
•x.'m . i * ’•*•t*ju.o * ah m » i 4 0 b c > n u i r « f t t o o k will ii»v« a Hon day: " T h e Illinois Central RR. Co. has made a negotia\
i
..
5 $• snail* Xu*. 4»l»outnro utook it not tion with Kuhn, Loeh & Co. and Vsrm ilye & C > . covering
*
‘
V * *:j v* t,' i a*- *i
t*
of bonit# l *# ’i 0,000,000, whom*■ S 10,000,000 3};( per cent gold bonds [tw o loans—E ds ] secured
<*»>
«cv tMiunl !u i»*ym*nt of the* j*r«|»orty of tl»® Postal upon the form er Chesapeake Ohio & Southwestern and the
Trirjr*\ *'■ #** ' #ii»? <'.‘ijtlrr Ift ft*-it
l!i,V fOOglVlllft
4 »JV . tot »t >1at. fur *t*v5s. All of t »** f i'«,0 O UKK> of -aUi bo mis former S:, Louis Alton & Terra Hmtei railroads, both n ow
*.<» »•». o ti- ’i w 'V I*:*-*?* (!»!>* form ing part o f the Illinois Central system.
, *
. ; -.,» ,!...-< , i ! i,». _i*<i i ,»f * !••••::.;'.!:•'• - ■*•-." h‘
' '‘ '
“ The com pany has also s old to the ssm i bouses the $1,350,h*>- tV*%\o t»-*a u. io4 to j»*jr tU»t»u Inwrrod for const moilott prior to 000 Chicago St. Louis & Now Orleans first mortgage bond8,
I* »* «.jm*
tt** ’«.ui dcuapaaii a fir**© from Hoatiog debt. Tu© ro* interest reduced to 3l£ per cent, to be is-m >d N ive nlo <r 1st in
f s
„ m, , i-H-Maf • -- *^M.k>iV>i*o of th© Uoatl^ may, by th© torms
*,#•£*»* r?u- * * * , !**jon1 ;»1 «»y fita© Uf the comj* \u? for any lawful lieu of maturing divisional bonds, and has arranged with
these firms to renew at
per c u t the $3,010,000 Springfield
1 7..V- 7i/ Z ‘* -r V.^ k t:i** -a,*! b«»n«N mjultvH that th© accounts o f division bonds maturing next January,”
t* .
. r-s *« m4i * 'i * ioii rear b j public iiocomitaat*, to fee eiootod
O ‘ the$30,000,00) SJ^ percents above referred to, $21,000,000
t>$ m *
- v , siv i* ml*. *
i>idsnarr £ itudiWB t'a n a l.-.Y i to Director. -T h s stock- are Chesapeiks Ohio & Sou hwestern purchase m taey m ort
ho’. - r« .t tin ir annual meeting this week elected R. S, Hiyea gage bonds issu )d to reim jur«? the Csntral for ita ex lease in
s dim -ior to succeed Cornelius Vanderbilt, who declined a requiring that property, aud $10,000,0)0 are firs m irtgage
re-*
in on uccouot o f ill health. 5tr. Hayea ia President bonds of 1898 issued on the St Louis D vision, com prising the
old Si, Louis Alton Sc Terre H m e. W aile the contract is for
o f tile 8 . Paul & Duluth RR.—V M, p. 370.
the ultimate sale of the w hole$31.001,000o ! hoods, only about
Delaware Lirliswanni « Western RR.—Quarterly.— $8,000,000, part o f each issue, will be delivered at once. ToeE ire mgs of the D. L. & XV. leased lines in N «w irork State remainder will be issued from time to time as d -emod best.
lor the quarter ending March 81 have been as follows:
is
„
ms
,,
«>~>r r.o >•<*•»* i*uur M
ck« rjja
3 ;
i if V : 31.
.
Oran
S et
tam in g*.
Interest,
tax**, etc.
Balance,
deficit.
CHEsarKAKB o n t o & s ou t iiw e stk r s c o a x .
This new $2),000,000 loan will be dated July 1, 1897, and
is .,:.................. . #1.2 i5,.VJ6 S«u.s77
Stijs.iits
$176,371
........ .............. l.lil.101
585,739
620,71$
35.019 mature July t, 1953, receiving interest la the m saatim s
The f"|s>rt of Ui« whole system for year ending D Kjemher ssmi-annusally in Jaauary and July. Ths m ortgage will pro
vide that $5,000,000 adHcional bonds, and no m i n , may be
3 , ~' «v ,s given in Cll tostCLS of J in. 8).—V. 64, p. 423.
issued for future betterments and new property. The Illinois
Dtamoud Match Co .—Sale o f Liverpool Plant.— Dividend Central issu-d in 1895 ab me $5,000,000 of 4 per cent 2-11 year
Jusit 77.—The sde of the Liverpool plant, it is announced, bonds, subject to call at par, to pay for th « second m ortgage
« t< cltirrd in London May 10, when the Diamond Match Co. bonds and other securities of the Chosapmke O lio & South
Limit, di was r, -istered under the laws of Great Britain. A western that wers purchased from Mr. H n t i igton, These
in id. r.d of -i’-4 per cent- has been declared, payable Jo ia 12,— bonds have not yet been called for payment, but they w ill bs
V. 64, p, "34.
redeemed by the com oativ and the new bonds issu id in their
Erie Railroad.— Quarterly.—Etratngs for the quarter and si-ad, whenever the syndicate so requests.
t te nine months ending Maroh 81, 1897, have been reported
The now bonds w ill cover the follow ing properties :
as fo'iowa, Th- road was not turn»l over to the present
Proper/!/ to he covered by mortgage—
e nipmr until D c. 1. 1893, so no comparison is given for the
Form *r Onesape ike OW t & S outhwestern—
M ite s .
nt e months Eirniogs of the Chicago & Erie are not in El*z ibetfotowa, K r , via Pahaoih, Kv.. t> 'femphii. Tumi. ____ .353
m e c from L, * S. of lioe from L misviUe to Cecilia.Tanotiou ... -IS
ch.! i. j in *be following liguri.-. but the net result to the Erie L Former
O .vensboro Falls of Rough & Steen Rive ■KR. lor toe 1897 quarter ia included in the balanoe,
Owensboro to fforss Brancla Ky (purcU wei April 9.1897.—V. 61,
p.755)................................................................... ....................... 42
3
eH4, t'truit
AVI
Other
Ittferexi,
Balance,
Former Shot-! RmteRy. Transfer (V. 61, p. 331) two-traoked
31. t i.r a »-y*. ea r ‘itngs. income, taxes. He,
sur. or def,
rood In bonlsvple......................... ................................................ 10fl
!<■*: ...
-'n-»
$3*i,0U $2,i2M i9 dtef, 56a4.532
flslST.au 1370*838
0,713 1.711,290 daf, 58,139 TUe terminals in Louisville and 'I -mollis, willed hive been here
tofore deeded in irustto the Halted S vitas Trust Go,
# m o n th * -1 - - . :. * ;.>i*,UC $5,418,303 $70,930 $3*339,611 sur. $37,592 Lauds In Louisville and elsewlero watch hive bosa reesntly
purchased by till Tl11mis Oeatral RR. Go.
—T. 04. p. 083s
Tog-tiler with the equipment and frauu Uses apiJjrtalnlag to the
i : i h i>nrg It d lm a d ,— Quarterly. —Earnings for the quart ir
railroads named,
and th •nine months ending March31, hive been as follows;
Total (inoludlng 45 miles leased)............... ...........................44203;
3 sir.
Or,*,
Hft
Interest,
Balance.
t * ’i Usir, 31. t u r n i n g s
e a r n in g / .
ta x e s e tc .
s u r . o r d e f.
The$2'},010,000 new bonds will be at the rate of about $50,000
1*97. ..... r
l
.
$138,275
$389,718 BUr. $18,557 p -r mile of r o a i o w a e l, but the interest rate is only 3 1^ per
»8*<i .....
1,070.020
809.530
380,757 (tot, 1 1 ,9 2 7 cent, and the terminal property included at Louisvill* and
!* <• • '....... 85,3*2.301
§1,779.750
$1,115,795
sur. $613 955 M unphtsis large and valuable. Since the Illinois Central
1* ;V l ...... 5.700,977
l,018,206
1,129,501 sur. 555,012 c >ok possession, Aug. 1, 1398, it has simply spent the receipts
-V 64, p, 707,
of the property in bettering it, rep'acing all of the 54-lb. steal
Fatten. W ill k Cortlandt Street Perries RR., Now Vork with 75-lb. steel, strengthening the bridges, putting in a large
CUr. — Fur,.'.insure Prncreding*.— he referee in the fore
quantity o f additional billaat; it is no w paintiug and repiirrhirTtrrr »utt o ’ the O-mtral t rust Oo, finis that the amount i ig the stations, in short, getting the w hole property up to
d*.i-! on 450 defaulted bonds ia 3303,925, and that 60 other bonds the Illinois Central standard.
*rs- not in the h.v»i* of l» a a fide holders. The m irtgaged
The earnings of the above lineB while in receivers’ h in d s
!>fnf--rt,v ••insists of franc),to* for a street railway, projected were as follow s:
to m fciin Fulton and W t ilS reet ferries to Cortlandt and
1896.
1896.
1815.
T e a r e n d i n g J u n e 80.
d ross.
N et.
N et.
L:- >itv H;r>* v ferries, a distance o f 3 ~ miles. These franChesape
ike
Ohio
&
S.
W
......................
$2,432,416
$815,616
$799,0
)4
chi*> *. the refer, «j finds, should be sold a* an entirety, E iward
O ireoatioro F ill of R. & <J. Btver.....
55,606
9,311
15,118
Kearney, 15 William Street, New Y ork, ia Presid int of the 8h irt Route Ry. Transfer....................
39,271
26,731
18,713
company.
Total................................................ $2,557,316 $250,618 $3I3,18I>
Grand Trnnk HR.—Central V erm ont RR.—Report fo r
Interest charge on the $31,030,01)0 o f 3W per cents will be
>■!- ltonlh< fading Dec. Si.— th- pamphlet report of the
*,?,r. i 1rung RR Co. for the six months ending D io. 31, $700.0 10.
No allowance has here been made for taxis, but it is clear
1888, ia at hand, showing •
" ,<*
hm „
Set
S et,b u t.
Bentali,
Balance, that the new bonds are issued o i a cons irvative basis aud
• !• •
" < e ■’
eurnxnfft,
other int. inlereet, etc. surplus. shiuld be no burden to the Illinois Central proper.
1•....... 1 2 .o 7 9 .7 1 5
IU H 07,007 £ 108,529 £39,087
ST. touts DIVISION BONDS.
!*>■'....... 1 .” 1.963
511,173
631.252
..................
The total authorized issue of the St. Louis Division bonds is
Th" report stakes the follow ing mt-reating stalem ‘nt < as
tn ti r r-. : p , y i n c r e a s e d facilitipH f ir doing business via $15,000,000, of whic i amount $5 030.000 are art aside for ex
change for the stocks of the old St. Louis Alton & Terre Haute
}’. r’. iuid and n* to tho new bridge over the Niagara R iver:
/ - eee- ,*c S f i'U tflee f.,r K ip u rl Iln tln ex t rfa P ortla n d .—Ths oaten- and Belleville & Southern Illinois railroads deposited with the
*/ " 'hr i-'i'i t"'!iiwii.irvR, ,,t Portland for tim iwoomm >d,ti<mof Uaited States Trust Company. The $5,000,000 so held are three
K.r ..tier rl»«. . r or an iluD sn now <!ti«»k'rd |n tho servtoe hut p ir cents and until Jan, 1, 1898, are subject to the option of
i f '" r
«4dttweat newr si (tug* ai «u<l hotwonj UaatMMt ami Spsncer Trask & Co., or their assigns, to purchase them at 90,
; an f - 1ti*’ " 6**ss
;d>-:. and (h« im irotrad fan 111!,,* than afford '.d
’!»■« !■!•<*?! h»nilM»s of ttfo trams k fftN N M In a i.tltaf.iet ay They are not included in the bonds now sold, and conse
’ ■1*
" 5 i ' ‘ *’ fr*»m til it port. Tho now olovotorof about quently the interim certificates issued on account o f the stock,
i.
r tpooitv In ponrio, of <:« -struatlon •« Portland Is o f th" St. Louis A|b)n & Terre H iu e and Belleville & South
tf;*V,, : : w m
»« dount tend «UU farther to the developern Illinois will not be p aid or exchanged at present. The
. - firing* as .viOff irn -The roc-'riir-llrtii of tlie new d >nl>lo track $10,000,000
p t cent bonds sold embrace all the balance of
in a p w -M t a , >tacars Hirer. In fuhstimtlon of the sltigis trick the issue, in cluting $1,5)1,000 held to retire the follow in g
l ! l|* * ''
!'i
^* 1' prngrp**, and itie now bridge la exported %q
,
*
* ■ r '' ’■ In tho f-Hli•!' of this year, thorrnt groatiy bonds covering portions o f the St, Louis Alton & Terre H aute:
B o n d s to b e R e t ir e d . —
11 »• ** tr**"* **“ ’ tile handling of traffic at
8t. Uiul* AJum & T. H. Terminal bauds, sabjaot to call at
104 on onH year1* noMoa ............................ ........................$2,275,000
Oncnrrthip n f Centr tl Vcr.nont S'curtH es.—In view o f the
bIIdvIUs dt Southern Ills. 1st M 4Hib. due Oct. 1, 18 17.......
998,000
{ - t oP.g riorgania ttion or the Central Vermont RR., the B
St- Louis Southern 1st Jt -I*. du<* Sept. 1, 1931............... ...
540,030
r'“ - '’ ,,f •■*»y«n-nt showing the w cH ritlsaol that company Bailerlllo * Eldorado Is* M, 7k. due July l. 1310 .............
220,000
owns a by th- Grand Trunk Company is o f value ;
Bellevllln a OarOud-ilet Irt M. 0k, due .1 me I. 1923.............
485,000
<fcSh twneetoarn 1st M, is, due M mill l. 1912...
250,000
"f
it».,ir,i»d o f » errnotr. (tr»t taertaete bends, <781,800 Curbondale
Chlougo St. Louis A Padua th l-t» Mi. eunjaet to call at any
u'J V’ **f
V i . 1 l,'>ad« were lent
as>i«i the Oontral
time
ou
sixty
days*
notice
at
105,
......................................
l,000,OCG
< o. n * i . . . i n ; i<#i sv»ln»t oitlsteral of $ 1.00 » 0 0 0 i nor
,
-------------r*i nj !t<Mt« t*9Dh i; preferred stock, $20f.'Wd; ojonnoa
Total
$5,778,000
L
’HE (CHRONICLE,
Ma y 15, 1897.]
The loans here enumerated are either for the most part
already in the possession of the Illinois Central, or, as will be
seen, are redeemable at its option at short notice, thus ren
dering available the bonds reserved against them.
The remaining $3,500,000 St. Louis Division bonds may be
issued under the mortgage as follows:
For the purpose of acquiring interests anil outstanding securities in
said properties (whether any of said first mortgage bonds above enum
erated or otherwise) and to construct or aoquire extensions, branches
or other additions to said properties and improvements and bet
terments theteof. and additional equip nent for use thereou and in
connection there with, all of which interests, securities, additions, im
provements. betterments and property shall thereupon become sub
ject to the lieo and operation thereof.
G r o ss
9 m o n th s, e a r n i n g s ,
1896-7....... 6,830,992
1895- 6.... 6,935,118
953
yet
e a r n in g s .
2,885.165
2,790,075
O th e r
in c o m e .
135,693
190,020
In te rest,
ta x e s , etc.
B a la n c e ,
su rp lu s.
2,076,166 944.692
2,223,598 756,49 7
Dividends for the nine months of 1896-7 (4 p. c.) call for
$1,300,000 against (4L£ p. c.) $1,350 000 in 1895-6. Loans and
bills payable, March 31, 1897, $730,000, against $490,000 on
June 30, 1896.—V, 64, p. 799.
Metropolitan Street I^v., New Y o r k .- Official Statement
as to Cause o f Delay in Changing Motive Power.—Right of
City to Purchase Sixth and Eighth Avenue Lines.— Presi lent
Freeland issued a statement on Tuesday explaining why work
had not been begun on the proposed change of motive power.
“ The effect of the new loan” , says President Fish, “ will be The statement, which charges a rival company with causing
to diminish the Illinois Central charges ; enable it to take up (he delay, is in part substantially as follows:
the prior liens on the C. O. & S. W .; to realize on the large
The oompany promised that it would during the ooming season in
advances it has made tbereou (receivers’ certificates, overdue troduce electrioity a9 a motive power upon portions of its system.
coupons, ftc.) ; and also to buy up the minority interests in The promised change would have resulted iu two new rapii-crausit
from the Battery, one ending at tin Harlem River and One H mthe various branch and leased lines of the St. Louis Alton & lines
flred and Sixtieth Street, and the other at Amsterdam Avenue and Ouo
Terre Haute RR.” It may be added that on June 30, 1896, Hundred and Twenty-tifth Street, from whicti point it could be ex
the company reported oulstanding “ bills payable (including tended further north at a later time. A majority of the owners of pri
obliga'ions incurred in purchase of C. O. & S. W. first mort vate property have given their oonsent, the Railroad Commissioners
have authorized the. oh inge, the Commissioner of Puhlio Works h is
gage bonds and other securities”) to the amount of $6,148 619. issued
his permit, the plans are prepared, and as much as fifteen miles
The funding of this item at the low rate of
per cent will of the material for construction are already delivered.
Numberless injunction suits, however, have been instituted, the
naturally, as President Fish says, reduce the company’s an
real point being to prevent the competition waioh new ant improved
nual interest charge.—V. 64, p. 755.
railroads would cause. Au injunction has been issued on several
technical questions and also the question whether the city of New
Indiana Decatur & Western Ry.—Earnings.—For the year York
has any option to pnrohase portions of the Sixth and Eighth
ending December 31 earnings have been reported as follows:
Avenue railroads. We have no considerable iuvestiueut in these
lines exoept some comparative y small betterments made since the
leases were exeouted. But If we invest the large sum of money neces
sary to introduce eleotrici y as a motive power we are liaole t • ti id
ourselves involved in litigation, and will have placed our capital
where it will be subject to attack.
“ We are advised bv the most eminent counsel we can employ that
Indianapolis Deeatnr & Springfield R y.— Indianapolis that there is no merit in these claims. It is admi ted by both sides
that
large parts of both the Eighth and Sixth aveuue roads were
Decatur A- Western R y.—Foreclosure Sale Upheld.—The Su
built under grants whioh never contained auv provision for sale, so
preme Court of Illinois has just handed down a decision in, that
the city's right to purohase—if it exists at all—applies ou y to a
the suit brought by E, R. Craft for leave to redeem from the little more thau half of the Stxth Avenue road and a somewhat
old Ied anapolis Decatur & Western mortgage the Illinois end greater portion of the Eighth Avenue.
“ We have done everything we oould iu Dressing the hearing iu
of the line upon the ground that there had been no foreclo court
and the case will doubtless soon be .decided.”
•
G ross
O p e r a tin g
exp en ses.
T e a r e n d . D e c . 31.
e a r n in g s .
1896................................... $468,881
1895................................... 473,621
—V. 64, p. 41.
$308,413
320,518
yet
e a r n in g s
$160,168
153,103
sure suit brought in Illinois. The case is decided against
Henry J. Braker, an importer, of 95 William Street, has
the plaintiff, the court affirming the foreclosure decri e. Mr.
Chas. Robinson Smith, counsel for the railroad company, says: offered the city $1,000,000 for each of the two franchises in
addition to the amount required to pay the present occupants
The Court sustained all three of our contentions :
for their improvements, and the franchises to be subject to
1. That th» suit brought in Indiana by the trustees for Inst ructions the regular fianchise tax, never to be less than $50,000 per
and for leave to sell under the power i f sale contained in the mort
annum on each road.—V. 64, p. 888,
gage passed a good title;
2. That that suit viewed simply as a foreclosure suitwas9iitRoientto
New England RR.—Quarterly.—Earnings for the quarter
pass title in Illinois on the authoiit.v of Mailer vs. Dows, 94 U. S ; and
3. I'hat inde endently of the Indiana suit, and if there had been no and the nine months ending March 31 have been as follows:
Buit whatsoever, the acts of the trustees in conveying in compliance
with the power of sale, passed a good ti le.
The de lslou also sustained the judgment below on our oross bill
■quieting our title and forever enjoining Craft from interfering there
with.
The decision is of some importance as establishing the rule oontende 1for that an inter-9rate railroad mortgaged as au en*irety may
be foreclosed in a single State court without the institution of aucillary proceedings in the courts of the other States through which it ex
tends. The general rule, of which this is a qualification, is that fore•clo-ures and other suits sffeotiug land must be brought in the courts
of the State where the land lies.
The quo w irranto s .it which was brought last December and which
Involved que-tlons on the consolidation law of Illinois is now on ap
peal in the Illinois Supreme Court and is likely to be heard at the next
term of the Court.—V. 64, p. 41.
Kansug City Pittsburg & Gulf R R.—Through Trains June
JO.—It is expected that by June 10th the Kansas City Pitts
burg & Gulf Railroad Co. will have through trains running
over its own track from Kansas City, Mo., to Port Arthur,
Texas. The grading south of Many, La., is nearly completed,
and track laying is progressing rapidly and satisfactorily.
The increasing local earnings of this r oad, it is suggested, bear
testimony to the improved and improving conditions of gen
eral business along tne line from Kansas City to Shreveport.
—V. 64, p. 754.
Long Island RR.—Quarterly.—Earnings for the quarter
and the nine months ending March 31 have been as follows :
3
m os. e n d .
G ross
N et
O th e r
I n te r e s t ,
B a la n c e ,
M a r c h 31.
e a r n in g s . e a r n i n g s ,
in c o m e ,
ta x e s , etc.
su r. o r d e r .
1897 ..... $u2 ,495
$1,360 cr.*10,657 $294,379 def $287,362
1896 .....
631,218
23.333 loss 680
278,346 def. 255,693
9 m o n th s —
1896-7... $2 856.872 $815,266 $126,619 $915,601 sur. $26.2«4
1895-6.... 2,928,770 910,822
103,770
844,421 sur. 170,171
Loans and bills payable March 31, 1897, $1,494,000, against
$900,000 on Sept. 30, 1896.—V. 64, p. 754,
Madison Sqnare Garden.—Annual Meeting—Reorganiza
tion.—At the annual meeting this wees tbe old board of di
rectors was re-elected as follows: F. K. Sturgis, J. Pierpont
Morgaa, D. O. Mills, Charles Lanier, H H. Hollister, W, F.
Wharton, Sanford White. W. C. Gulliver, James T. W ood
ward, H. I. Nicholas and James C. Young. The company, it
is stated, remains in about the same unsatisfactory condition
as a year ago. The option for the sale of the Garden given
April 3, requires the purchaser to pay $13 a share for the
stock and assume the outstanding indebtedness. This option
will expire on June 1. It is thought the option will not be
exercised, and that a committee will be appointed soon after
that date to draft a plan of reorganization.
Manhattan (Elevated) Railway, N. Y. City . —Quarterly.—
Earnings for the quarter and the nine months ending March
31 have been reported as follow s:
3 m o s. e n d .
M a r c h 31—
G ross
e a r n in g s .
X rl
e a r n in g s .
1897...........$2,347,504 $1,048,513
A896........... 2,362,811
915,0?9
O th er
in c o m e .
$42,500
50,080
In te rest,
ta x e s , etc.
B a la n ce,
s u r p lu s .
$665,324 $425,689
610,418 384,761
3 m o s. e n d . G r o ss
M a r. 3 1 . e a r n in g s .
yet
ea rn in g s .
1897....... $1,130,620
$230,601
18-6........ 1,265,858
260,640
9 m o n th s —
1896- 7... $3,860,896 $799,397
1895- 6... 4,557,586 1,296,067
O th er
in c o m e .
$6,291
5,748
I n te rest,
ta x e s , etc.
B a la n c e ,
s u r . o r d e f.
$395,567 def. $154,675
39L.177 def. 114,789
$20,750 $1,172,568 def. $352,421
13,276 1,201,022 sur. 108,321
Loans and bills payable March 31, 1897, $100,000, agaiast
$100,000 on June 30, 1896.—Y. 64, p. 664.
New England RR.—Treatment o f New York & New Eng
land Terminal Mortgage.—In view of the sale by this com
pany of a large block of its real estate in Boston to the Bos
ton Terminal Company, the question has been asked in regard
to the Terminal mortgage for $1,500,000, made in 1889 by the
New York & New England RR. Co., in what manner the loss of
a Dortion of its security is to be made good to the bondholders.
W e are authoritatively informed on this point as follows: “ By
agreement the bondholders have decided to have the proceeds
of the sale of tbe terminal property in the city of Boston
invested in other mortgages upon property also owned by the
New England RR., cr, in other words, practically to substitute
other mortgages for the mortgages that are paid off. The
mortgage'for $94,000 will b 3 substituted at once, and the pro
ceeds of the mortgage for $130,000 will be held by the Amer
ican Loan & Trust Co in trust uutil the mortgage wmoli it is
proposed to give is ready for execution, regarding which lat
ter tffire may be some months delay. The New York & New
England Terminal bonds will not be disturbed and will run
their natural life.”—V. 64, p. 684.
New York & Harlem RR.—New York Central & Hudson
River RR . —Harlem to Get the Saving from Refunding.—
Referring to the item in the C hronicle of March 13 (page 518),
citing the lease of the New York & Harlem RR, to the New
York Central, we are now officially informed that the saving
from the refunding of the $13,000,000 of Harlem 7s due May
1, 1900, has been decided to belong to the Harlem stockhold
ers. The annual charge on the $13,000,000 of 3)£ per cant re
funding bonds will be $420,000, a saving compared with the
present interest charge of $439,000, or equal to 4'2 per cent on
the Harlem Company’s $10,000,000 of stock. The official
statement to us from Treasurer Rossiter is as follows: “ The
action of the New York & Harlem RR. board of directo s was
taken on the advice of counsel that the Harlem Company was
entiiled to any benefit that may accrue in the refunding of
the Harlem bonds.” —Y. 64, p. 800.
New York New Haven & Hartford RR.—Quarterly.—
Earnirgs for the quarter and the nine months endiag March
31 have been reported as follows :
3 m o s. e n d .
G ross
M a r. 31. e a r n i n g s .
N et
e a r n in g s .
O th er
in c o m e .
I n te r e s t ,
ta x e s , etc.
B a la n c e ,
s u r p lu s .
1897...... $6,493,176
$1,89.1,859 $129,150 $1,609,927 $411,082
1896. ... 6,606,955
2,118,091 124,0^3 1,498,207
743,907
9 m o n th s —
1896- 7...$21,710,784 $7,115,403 $429,674 $4,753,269 $2,791,808
1895 6... 22,736,843
7,204,293 358,555 4,897,413 2,665,430
951
THE CHRONICLE
|V o l . L X IV ,
The judgm ent o f the Supreme Court is therefore affirmed.
ns IHi* mirplu* for Us** nine month- ■$3,791 ,S'18) divi*
, as s s* r c*at p«r aouuin cull for •2,850,000, leaving a An article regarding the decision will bo found in our editorial
colum ns.—V , 63, p. 897, 709, 1009,
drflcllt t d s,%4 194
V *"• ,bi» March 31, 1807, $7.7’30,000 (agrioat
Saginaw Consolidated Street R y.— Saginaw O nion E y.—
u «
, ’.S;eVi, iitu su April, 1807, a block of |Default.—Receiver A pplied F o r .—The interest due Feb. 1,
•M M
j,(XM guaranteed New England 5a were j ami May 1,1897, on the bond* o f these companies was not paid.
applicable lo payment o f ilaating debt ] Application was made recently in the U nifed States Court for
»l>rt <niram.
a receiver for both the Saginaw Onion and the Consolidated,
n*fraf.- .. The dir< el or* ms Monday made a trial j but this was denied. Action has already been begun, how
et ihu line m r n tl;e q u ip p e d with tin; tbi-d-rail electric I ever, looking tow ard a receivership for the Consolidated Co.,
u tw i.-n New Britain ami Hartford, Tue run of ten j which action will probably be decided in a few days. A
it i« »tat*'d. « m made m 134«g minu es.and with l«*ss jar com m ittee consisting o f Chaa. E. Eddy, Gardner T. Sanford
than t , ordinarily experienced in the steam passenger trains, and S, D, Loring is representing the Consolidated Com pany’s
Scrrtc in • of the mum were covered much faster than a mile bonds, a large m ajority of which are already deposited with
a mi ute. The electricity is generated at New Britain, where the Boston Safe Deposit & Trust C om ptny as trustee under
the enU U p room p r o v i d e * for five engine* with an aggregate the committee's agreement.
botssf1poorer. The cars are about fifty feet long.—
a t JO.i
St. Joseph & Grand Island Ry. —New Securities Ready —
V. 64, p , ms.
The Central Trust Co. expects to begin on Monday or Tuesday
Saw York O ntario k Weglern Rjr,— Quarterly,— Ewnings the delivery o f the new securi ties.— V. 64, p. 841,
for tie quarter and the nine months ending M ireh 31 have
St. Louis Terminal Capples Station & Property —$3,000,been Mportr d as follows:
000 Bonds offered.—D escription o f P rop erty.—This com pany's
Balance,
Interest.
Net
Other
wm
s u r o r d e f. $3,000,000 of D/i per cent first mortgage gold bonds have
gmd-. Mar. 31. turning*. earning t. income. ta x e s , ric.
sur. -7,162 been offered for subscription recently at oar. They are
im l.»
•81&&X9 $264,717 $ 2 0 , 6 0 3 $217,818
def. 29.756 dated June 1, 1897. and are due June
163,761
20,000 213,317
\ $ m .........7633 si
1, 1917,
bur are subject to call at 102 and interest af.er June
im e-7 .,***.. $34M5»5&4 $871,634 $62,078 $ (5 8 9 ,2 2 1 •ar.$344,4£8 1, 1902, Principal and interest are payable in New Y ork
886306 60,090 870.010 sur, 270,286
..,......
ii»i08
Loans and bill* parable March 31, 1*97, $323,053, agaiast or London in gold, tax free. Tbe issue is limited to §3,000,000
and is stated to be an absolutely first lien.
§131.553 oa Juno 30, 1396.— V. 64, p. 434.
President R. S. Brookings says regardi ig the property :
Northeastern RR. nf tt -o r g i»•— Road T im e d Over to
“ The Cupples Station Wholesale Buildings of 8t. Louis, the first
State.—Receiver Dooley on M iv 7 turned over toe road to group of which was rooted in 1891. consist of several blocks of HighRufus R a m , the agent if tbe State. The rent due the class, modern, slow.oomtmstion buildings, situated on both sides of the
of Hie Terminal RR. .Association’s tunnel In that city, and sur
State by the lessees, it is stated, c ivera a period of one quar mouth
rounding a Union freight station, whloh t- a part of the property.
ter, two months and four days, or about §7,500.— V. 64, p. 843. This station Is operated- directly or tntireet.ly, by all of tlxe railroads
entering 8t. Louis and Bast 36. Louis, and is so connected with the dif
Ohio Valley R y .—Foreclosure Sale June 3. -T h e sale is ad ferent buildings of the grotin as to permit the tenants to reo-ive and
v<-;tii*‘d (or June 3 at Henderson, K y ,, the upset price to be ship any quantity of freight-, from a single package to a oar-load, with
out the delay and expense incident to the usual system of cartiug to
•1,(50,000.-.-'?. 64, p. 288.
and from depots. One large steam plan1 furnishes the pow-r for
P h ila delph ia & Erie K it.—Sunbury & Erie 7s Due Oct. 1, onerating the elevators, and also heats tod lights all of the buildings,
which are leased to about twenty of the largest wholesale houses in the
-T h e Sunbury & Erie RR first mortgage 7s. maturing city of St. Louis, including such well-known houses as the Simmons
Octr b r next, w ill n«replaced bv the issue o f a similar amount Hardware Co. and the Samuel Onppies Wooden Ware Co. In addition
«.f Philadelphia <& Erie RR. general mor gage ts. The Penn- to tne Cupples Station Buildings proper, a number of other wholesale
in the immediate vicinity of the Guppies Station are included
»> ivn.'iia RR. Co. ha* purchased the latter bonds at 103, thus buildings
under this mortgage; of these two are still Id course of erection. The
furnishing the funds to redeem the 7 per cent loan at matu Cnpples Station U located within five to s’X blocks of ihe fost-ofltoe,
rity, of which 1876,000 i* outstanding. The saving in interest Custom-h'use, Southern Hotel, and of the office building centre of St.
will he •28,380 annually,—Philadelphia “ Ledger,” —V, 64, Louis, and its location enables tenants to use the street side of the
buildings for offices, sales-rootn and city business. The Terminal
P 371.
Railroad Association of 3t Louis ia under perpetual contract to rn tintaln a freight station on the premises The income of the comoany is
ilncy Omaha k Kansas City R y.— Omaha Kansas City seer,red by leases, which have an average uoexpired duration of about
k f.a»tern Ky.— Sale Confirmed — The sale of the Quincy nine years. These bonds which form the total $3.0 O.oo ’ authorized
are an absolute first Hen upon the lauds (oomprtalog 216,;)00 square
Omaha Ac Kansas City has been confirmed and the payment feet,
all held in fee), buildings, railway traofcs. and easements cited in
com ; I t- i. The link to connect tbe road with the Omaha & the trust deed.”
St. Is
i'hin thirty days, when the two
The earnings of the property for the yen- 1896 and tbe in
road* will h . merged into the company organized for the pur- terest charge as it will hereafter be on the new 4%s are re
fi.r,■, viz.: the Omaha Kansas City & Eastern.—V . 64, p. 800. ported as follow s :
Gross
Op. Exp.,
hTcl
Other
Total
Interest on
Klo <»ramie iVestern Ky.— Denver te R iottran de Western Rtecnue.
taxes, die..
Revenue.
Income.
Met.
hHs to be
RR
Right* o f Bondholder vof Assenting to Reorganization .$267,866
$52,923
$214,938
$25,u62
$340,090
$135,000
o f : *.—The suit o f Simon Rothschild to recover judgment
Savannah F lorida & Western Ky. — Offer o f Exchange
on first mortgage coupons (of which ia 1800 he held 110) actiiebt d,tobondsootassent)og to tbe reorganization plan of 1889 to Holders o f Atlantic & G u lf 7s due July 1, 1897.—
r a w up before the Appellate Divtrion o f the New Y ork Su- 1’bis com tm y has made arrangem mts with u v N-*w Y ork
p rdii- Court this week on appeal taken by the Railway Com Security & rus' C >. to pay at maturity, July 1, 1897, the A t
party nt the trial term and was decided in favor o f Mr. lantic & G uff ponds, or to exchange them for Savannah
HOthtchlld.
Florida & W* stern first mortgage gold bonds of 1884, with
The case, which was originally brought in 1890, was decided interest reduced lo 5 per cent per annum. Th t Atlantic &
by the Supreme Court before Judge Andrews in favor of the Gulf bonds aggregate $1,784,000; $1,000,000 o f u v m may be
defendant, the qu< sdon involved being the right of a bond- exchanged for the aforesaid issue until June 1. 1897, upon
i.c.i l- r to bring action upon coupons, notwithstanding the payment of 5 per cent o f the amount of the bonds. Holders
•
li ma of the mortgage prohibiting individual bondholders d, siring to make the exchange should notify the New Y ork
fn-m bringing suit to enforce the mortgage security and pro- S curiiy & Trust Co.
The bo ds off-r»d in <-xchange arc a part of the §6,500,000
may take such proceedings, Oo
so spjrfsti to the On nt-rai Term the decision was reversed Jan, first mor gage gold bonds authorized u tder the mortgage o f
)*, i ~95, trilnnjopinioo rendered by Judge Pollen, concurred iu April 1, 1884, with interest reduced to 5 per cent, both prin
by Judge» Van Biunt and Parker, the Court holding that inas cipal and interest payable in gold coin of th ■ present standard
much a* ' •there i« no hint in the bond or in tbe coujion that the o f weight and fine .ess, in New Y ork City, and mature April
o»tw r may i.ot, in case of default, m tlntaiu action at law for 1.1934 They are a first lieo on 487 miles of the Savannah
the recovery of tbe principal or interest as it falls d u e ” , that FI-rida St Western road and cover 58 mites additional, su bject
the right to nich action " cannot on nullified by an inconsis to prior liens o f S664,0(.i0 (which will b> paid off o i or tmfore
tent provision contained in the irost deed*"
September, 1899), at only 12.000 p-r mile. The m trtgage o f
f i e right of the plaintiff to b iin g ao action being upheld, 1884 is follow ed bv the $30,000 000 consolidated 3 per cent
th- (»«•> w . r. sgain brought to trial in the Supreme Court be bonds due May 1. 1943, on tbe entire road, of which there are
fore Judge lJ-anh, and a jodgm-.-ot In favor of the plaintiff at pres nt outstanding §6,900,000.
obtaint I Tbe decision ju st rendered by the Appellate D.
The New Y ork Seouri v & Trust Co., 40 Wall Street, and
n (Finrt Department) is on the appeal from this judg Chas T, Wing & Co., 18 Wall Street, are now prepared to pur
ment. It ht a. follows •
chase at par, adjusting interest, the bonds of any holders who
ui»t the complaint does net s<»t< tent* sufficient to ruay desire to sell rath’ r than exchange.
Arrangements will he made to have the new bonds listed
of *ei(<»R !• nut malntabmble. ti w*n Imln an
that t|»e complaint *s» safilrteBt In i * ailego'lvon on the New York Stock Exchange as soon as issued. The sav
r*'■i of the rmi«nHrlftl(,*n of the rnUraott earparnifons ing in interest charges to the com pany from the refunding
c
f:“ '
a!
. f . ., ,h ,,i(t!, . | „ 0 ! j , P, , „
n«r<i -,»n* i|»i»it)ty far tV eottpaas rb« coaleotlon will be §17,800 yearly,—V . 64, p. 431.
■ A> i • >v*,«tr*ir: ih- ileht of the plsimiff m rnsth
Seaboard A R oanoke R R .—Suit to Declare the Pooling
Ppoa to* c-nipoB* li»s alre oiy heen determtaed l,y the
Agreement Void. -Thom as F. Ryan brougnt euit in theTJ S.
“ ■•*(.•! <1»r.n«i. there l» nothin* to In6to tie that Circuit Court at B d ti nore oa T iv s ia y to obtain possesst m of
i ■
*• ' i f *rtsi t.rro »»<• tpll'ie the boniltmlders' 153 snare# o f the com pany’ ) stock, winch were deposited with
‘.
I,, ft "-*.•» •* a*i sot!... .
i . nns,.j« ar» that it w*•not *affleS,*nt as pr.to? for the Louis M cLtut and Ju lg« W a ts , under the pooling agreement
Arto ;e >t of the ffinftMf* it requt f-1 tt, . ttohler* of * of October, 1398, (s-v V . 63. p 713, 924), and the receipt rep
'*” •• ' ■ '(vs* f° w»iv„ U- 1 si.;* in sunn manner as
u.nortty tin nefs, nxtA the t'Hount of liO'i ls Oialni“ l ‘ -» resenting voich was purchased by Mr. Eyaa oa J tn . 3. 1897,
«v*n»jr* of tint paper w o> very much !e»« than the for $15,300 The o b j e c t ‘of »h > BUit is to have the p jo lia g
* aasataiWHraf HVMv
agreement declared ilUgal —V. 84, p. 753.
fr a
THE
Mat 15, 1697.]
C H R O N IC L E
S e c o n d A v e n u e R K . ( S . T . C i t y ) . — Q u a r t e r ly .— E i m i o g s
f o r th e q u a rte r a n d the n in e m )n th s e n d in g M a r ch 31 h a v e
b een r e p o r te d as fo l l o w s :
3 m os.
G ross
N et
en d M a r. 31. e a r n in g s ,
e a r n in g s .
1 8 9 7 - ............. $ 1 3 9 ,4 9 4 d e f . $ 3 0 ,8 3 5
1896............. 175,023
9 m o n th s —
1896-7.......... $525,936
1895-6........... 669,742
O th e r
in c o m e .
26 056
$1,170
625
$59,798
155,927
$2,421
1,375
In terest.
ta x e s , etc.
S t a t e n I s la n d R a p id T r a n s it R R — Q u a r t e r 'y . —E i n i ig s
f o r th e q u a r te r a n d th e n in e m inchs e n d in g M i rc i 3 l h i v e
b e e n r e p o r te d as fo llo w s , e x c lu d in g fe r r y e a r u in g r :
G ro s s
e a r n in g s .
1897
$83,052
1896........... . . . 131,790
9 m o n th s —
1896-7..................$447,766
1895-6................ 569,849
N et
e a rn in g s.
def.
net
m x tl H e r a t i n c u t s .
R E A D IN G
C O M PA N Y .
VOTING TRUST AGREEMENT.
To meet the desire expressed by some of our readers to see
$83,713 def. $?6,494! a copy of a typical voting trust agreement, we give below
99,034 sur. 58,768! the full text of the Reading agreement, and of one of the
L o a n s a n d b ib s p a y a b le M a r ch 31, 1897, §185,000, a g a in s t
$10,000 o n J u n e 30, 1896 — V . 64, p . 664.
3 m os.
e n d . M a r. 31.
ilc y a v ts
B a la n c e , }
s u r . o r d e f.
$33,433 def $53,593
26,267 sur.
424
955
In terest,
ta x e s , etc
$10,839
45,791
$30,627
81,409
net $161,739
net 243,851
$241,773
234,279
B a la n c e su r. o r d e f.
def. $9 ,516
d :f. 35,618
certificates issued under it. These should be read in con
nection with the article in the April issue of our I n v e s t o r s ’
S u p p l e m e n t , and the two editorial articles in the C h r o n i c l e
of April 24 and May 1.
The agreement itself is as below, the head lines being in
serted by us to assist in its perusal. The right to convert
the second preferred stock in the manner stated is, of course,
exceptional, and is not usually found in voting trust agree
ments. The agreement says :
AGREEMENT D ATED FE B . 1 , 1 8 9 7 .
T h is A g r e e m e n t , made in the City of New York this first day of Feb
def.$79,989
sur.9,572
ruary, 1897, by and between
L o a n s an d b ills p a y a b le M a r ch 3 t , 1897, §738,640, a g a in st
$699,375 o n J u n e 30, 1896.— V . 64, p . 331.
S u m m it B r a n c h .— T im e f o r D e p o s its E x t e n d e d t o J u n e 10.—
T h e tim e f o r a ss e n tin g to t h e r e o r g a n iz a tio n p la n h a s been
e x te n d e d u n til J u n e 10.— V . 64, p. 755.
T h i r d A v e n u e R R . — (N . Y. C i t y . ) — D iv id e n d R e d u c ed
T h e c o m p a n y t h is w e e k d e c la r e d a q u a r te r ly d iv id e n d o f 2
p e r c e n t , a r e d u ctio n o f
o f 1 per c e n t f r o m the la st t<vn
q u a r te r ly d iv id e n d s
F r o m A u g u s t , 1895, t i A u g u s t, 1896,
p e r c e n t w a s p aid q u a r te r ly , so t h a t the y e a r ly rate has
b een r e d u c e d fr o m 10 to 8 per c e n t s in c e A u g u s t la st.— V .
64, p . 844.
T r a n s - M i s s o u r i F r e i g h t A s s o c i a t i o n — J o i n t T r a ffi c A s s o
c i a t i o n . — A t W a s h in g t o n , M ay 10, th e S u p r e m e C o u r t d e n ie d
th e p e titio n f o r a r e h e a r in g in th e T r& n s-M issou ri F re ig h t A s
s o c ia t io n c a se . T h is a c t io n w ill le a v e th e le g a lit y o f tra ffic
a g r e e m e n ts u n se ttle d u n t il t h e C o u r t h ea rs th e a p p e a l in the
J o in t T ra ffic A s s o c ia t io n c a se in O c t o b i r n e x ', as it has a lrea d y
d e c id e d to d o .— V . 64, p . 8 0 0 ,7 5 4 .
U n i o n P a c i f i c R y .— L is ti n g o f R e o r g a n i z a t i o n C ertifica tes
f o r C o lla te r a l T r u s t G o ld N o te s — R e o r g a n iz a tio n c e rtific a te s
fo r $8,150,000 o f th e to ta l issu e o f $3,488,000 c o lla te r a l trust
g o ld n o te s 6s o f 1891 (M o r g a n n otes) h a v e b e e n liste d o n the
N ew Y o r k S to ck E x ch a n g e .
F o r e c lo s u r e S u it u n d e r D e n v e r P a c if ic M o r t g a g e .— G e o r g e
G o u ld a n d R u ss e ll S a g e as m o r t g a g e tru ste e s , h a v e file d su it
in th e U n ite d S ta tes C ir c u it C o u r t at D e n v e r , a sk in g fo r the
fo r e c lo s u r e o f th e D e n v e r P a c ific m o r t g a g e , an d fo r possession
o f th e 106 m ile s o f r o a d b e tw e e n D e n v e r a n d C h e y e n n e ,
k n o w n as th e C h e y e n n e b r a n ch o f th e U n io n P a c ific , w h ic h
are c o v e r e d b y th a t m o r t g a g e . O f th e §975,000 7 per ce n t
first m o r t g a g e issu ed b y th e D e n v e r P a c ific '9 7 1 ,0 0 0 are held
f o r t h e K a n sa s P a c ific c o n s o ls , a n d p r a c t ic a llv a ll re m a in
in g e q u ity iu th e p r o p e r ty b e lo n g s to t h j U n io n P a c ific
c o lla te r a l tru st g o ld 6s o i 1891 b y v ir tu e o f d e p o s it as secure y
t h e r e fo r o f th e K a n sa s D iv is io n a n d c o lla te r a l tru st b m d<,
w h ic h , w it h o t h e r s e c u r it y , h a v e a d ir e c t lie u o n th e C h e y
e n n e D iv is io n im m e d ia t e ly s u b se q u e n t to th e $975,000
D e n v e r P a c ific firsts. N e w s p a p e r d e sp a tc h e s t o th e c o n
tra ry n o t w it h s t a n d in g , t h e U n it e d S ta tes G j v e r a m e n t has no
c la im u p o n th e C h e y e n n e b r a n c h .— V . 64, p, 902.
U t a h C e n t r a l R y .— S o ld in F o r e c lo s u r e .— T h is r o a d w a s sold
u n d e r fo r e c lo s u r e a t S a lt L a k e C ity M ay 8 fo r $277,000 to
G r a ff & D it tm e y e r , r e p r e s e n tin g N e w Y o r k b o n d a o l d - r s .—
V . 64, p . 800.
'A h e e l i n g & L a k e E r ie R y .— A M a jo r it y o f F ir s t 6s o f 1926
C o -o p e r a t e .— M a itla n d , C o p p e ll & C o . state th a t th e y h a v e th e
c o -o p e r a tio n o f o w n e r s o f W h e e lin g & L a k e E rie R y . first
m o r t g a g e b o n d s o f 1926 in e x c e s s o f $1,503,000, b e io g a m a
jo r i t y o f th e issu e, a n d r e q u e s t o t h e r h o ld e r s to c im m u n ic a te
w it h th e m fo r th e p r o t e c tio n o f all in t e r e s te d .— V . 64, p. 713.
W is c o n s in C e n t r a l C o . — N ew T h r o u g h F r e ig h t L i n e . — T h e
c o m p t o y a n n o u n c e s th e fo r m a t io n o f a lin e b e tw e e n Sr. P a u l
a n d M in u e a o o lis a n d N e v p o r t N e w s, Y a ., v ia th e W is c o n s in
C e n tr a l, to M a n it o w o c , the G r e a t L a k e s S te a m s h ip C o m p a n y ,
th e C le v e la n d C in c in n a t i C h ic a g o & S t. L o u is a m i the C n esa p e a k e & O h io R a ilw a y s , fo r th e tra n s p o r ta tio n o f fr e ig h t fr o m
th e N o r th w e s t to N e w p o r t N e w s a n d th en a cro ss the o c e a n
T h r o u g h b ills o f la d in g w ill be issu e d to v a r io u s fo r e ig n
p o in ts .— V . 64, p. 903.
— T h e “ C h ic a g o E c o n o m i s t ” has issu e d a n in v e s to r s ’ s u p p le m e L t g i v in g sta tis tic s o f a ll th e le a d in g C h ic a g o c o r p o r a
t o r s w h o se se c u r itie s are liste d o n th e S t o c k E x c h a n g e , o r
w h ic h c o m m a n d p u b lic a tte n tio n . T h e s u p p le m e n t c o n t a in s
ta b les s h o w in g th e o p e r a tio n s o f th e v a r io u s c o r p o r a t io n s ,
w ith in c o m e an d o p e r a t in g e x p e n s e s , i o t e r t s : r e q u ir e m e n ts
a n d d iv id e n d s , t o g e th e r w ith all o b t a in a b le d a ta re g a r d in g
b on d a n d s t o c k issu es, a n d p ro v is io n s o f m o rtg a g e s an d
leasee.
1- algo c o n t a in s m a p s o f a ll t h e s tr e e t r a ilw a y c o m
p a n ies in C h ic a g o a n d C o >k C m a t y . I t b r in g s d o w n t o dace
th e sta tistics r e g a r d in g stre e t r a ilw a y s as p rin te d in a s u o p le m e n t issu ed a y e a r a g o ,a n d » i “ o in c lu d t s v a r io u s o th e r cn r p o r
a tio n s.
,
.3
P a r t ie s .
J. P. M o r g a n & Co. (hereinafter called the “ managers”) reorganiza
tion managers under a certain plan and agreement for the reorganiza
tion of the Philadelphia ^Reading system, dated the fourteenth day
of Decomber, 1895, parties of the first part, and J. P i e r p o n t M o r g a n ,
F r e d e r i c P. O l c o t t and H e n r y N . P a u l (hereinafter called the
“ voting trustees ), parties of the seoond part.
P r e a m b l e —P u r p o s e o f V o t i n g T r u s t .
W h e r e a s , pursuant to the terms and conditions of the said plan and
agreement for reorganization, and in order to promote and protect the
value of the securities to be held aud to be issue! by the Reading Com
pany,and as an additional protection to its new general mortgage bonds,
the managers have delivered to the voting trustees certificates for
fully paid shares of fifty dollars ($50) eac! of the capital stock of the
Reading Company, as follows, viz.: 560,000 shares of the first pre
ferred stock; 840,000 shares of the second pre ’erred stock; l ,398,000
shires of the common stock, which certificates, together with such
other similar certificates as hereafter from time to time may be deliv
ered hereunder, are to bo held and disposed of by the voting trustees
uuder and pursuant to the terms and conditions hereof:
A n d , w h e r e a s , s u c h c e r t i f ic a t e s f o r s h a r e s a r e s u b s t a n t i a l ly i n t h e
f o r m s h e r e t o a n n e x e d a n d f o r a ll p u r p o s e s a r e m a d e a p a r t h e r e o f .
Now, t h e r e f o r e :
F i r s t .— T h e v o t i n g t r u s t e e s d o h e r e b y p r o m i s e a n d a ^ r e e t o a n d w it h
t h e m a n a g e r s , a n d t o a n d w it h e a c h a n d e v e r y h o l d e r o f a n y c e r t i f i
c a t e is s u e d a s h e r e i n a f t e r p r o v i d e d , t h a t f r o m t im e t o t im e , u p o n r e
q u e s t , t h e y w il l c a u s e t o b e i s s u e d t o t h e m a n a g e r s , o r u p o n t h e i r
o r d e r , in r e s p e c t o f a l l s t o c k r e c e i v e d f r o m t h e m , c e r t i f ic a t e s i n s u b
s t a n t i a ll y t h e f o l l o w i n g f o r m :
[Then follow copies of the New York trust certificates registered by
the Central Trust Co., aud the Philadelpaia trust certificates signed
by the Pennsylvania Company for Insurance of Lives & Granting
Annuities. The wording of one of these certificates is given further
below.—Eds. [
P r o v is io n s
R e s p e c t in g T e r m in a t io n o f
T r u s t .— S e c o n d
f e r r e d St o c k S u b j e c t t o C o n v e r s i o n .
Pre
S e c o n d . — On the first day of January, 1902, if then the Reading
Company for two consecutive years shall have paid 4 per coat pe r an
num cash dividend on its first preferred stock, and, if not, then so
soon as such dividend shall be so paid, and upon surrender of any
stock trust certifioite then outstanding, the voting trustees will, in
accordance with the terms hereof, deliver therefor corresponding
proper certificates of stock of the Reading Company. It is, however,
distinctly understood and agreed that at any date the voting trustees
may call upon the holders of stock trust certificates to exchange them
for certificates of capital stock, and at or after the date to be specified
in any such call they shall deliver stock certificates in exchange there
for; aud also that the second preferred stock is subject to the right of
the Reading Company, at its option and in such manner as it shall
determine, at any time after dividends at the rate of 4 per cent per
annum shall have been paid for two successive years on the first pre
ferred stock, to convert the second preferred stock not exceeding
$42,000,000 at par, one-half into first preferred stock aud one-half
into common stock.
V o t in g T r u s t t o A p p l y t o A n t Su c c e s so r C o r p o r a t io n .
T h i r d .— T h e term “ Reading Compaay” for the purposes o f t h i s
agreement and for all rights thereunder, including the issue and deliv
ery o f stook. shall be taken to mean either the Pennsylvania corpora
tion of that name, or any successor or consolidate l or any corporation
which, with the unanimous approval of the voting trustees, shall be
adopted to carry iuto full e f f e c t s a i l reorgauizatiou pLau and agree
ment, dated Deo. 14, 189 >.
T o In c l u d e A l l S t o c k H e r e a f t e r I s s u e d .
F o u r t h .— F r o m t im e t o t im e h e r e a f t e r t h e v o t i n g t r u s t e e s m a y r e
c e i v e a n y a d d it i o n a l f u l l y p a id s t o c k , d u l y a u t h o r i z e d , o f t h e o a p i t a l
s t o c k o f th e R e a d in g C o m p a n y , e it h e r p r e f e r r e d o r o o m m o n . a n d in
r e s p e c t of a ll s u c h s t o o k s o r e c e i v e d w ill i s s u e a n d d e l iv e r c e r t i f ic a t e s
s im ila r t o t h o s e a b o v e m e n t io n e d , e n t i t l i n g t h e h o l d e r s t o a ll r ig h t s
a b o v e s p e c ifie d .
R e s ig n a t io n a n d A p p o in t m e n t o f V o t in g T r u s t e e s .
F i f t h .— A n y v o t i n g t r u s t e e m a y , a t a u y t im e , r e s ig n b y d e l i v e r i n g
t o t h e o t h e r v o t i n g tru stee-*, in w r i t in g , h is r e s ig n a t io n , t o t a k e e f f e c t
t e n d a y s t h e r e a f t e r ; a n d in e v e r y c a s e o f d e a t h , o r r e s ig n a t io n , o r o f
t h e in a b i li t y o f a n y v o t i n g t r u s t e e t o a c t , t h e v a c a n c y s >o c c u r r i n g s h a ll
b e fille d b y t h e a p p o in t m e n t o f a s u c c e s s o r o r s u c c e s s o r s t o b e m a d e b y
t h e o t h e r v o t i n g t r u s t e e s b y a w r i t t e n in s t r u m e n t , a n d t h e t e r m
‘ v o t i n g t r u s t e e s ” a s h e r e in u s e d s h a ll a p p ly t o t h e p a r t i e s o f t h e s e o
o n d p a r t a n d t h e ir s u c c e s s o r s h e r e u n d e r .
THE
95tf
3 ?h c
JUt-fttHXMs* ahull from
« fm n la r iiiiwibcr of
o r by writing
f u'lfiy eMabliah their
v m m n t th at
m
„0 i>0 hereto*
1183
r tf form erly
HU, Co. a a (l
mount of the
except after
it* hoUtora o f
i «took trust
allot! for that
fete
at smefc part
utott at -Sttoil
t m m M m tm . voting
i |»3peforr«ol. stock t>©
If I
af a m ajority o f the
rtitleale* given at a
ok trust certificates
by the holders o f a
?ru« certificates as shall
ders o f each class o f stock trust
<t, however, that no consent o t
all b e required or accessary to
site
a to consent or the com pany to proceed to
preferred stock to m am ount not exoeed*-hnlf into first preferred stock and one*
any time after dividends at the rate o f 4
ve been paid for tw o successive years on
COMMERCIAL
3£xm es.
EPITOME.
F r i d a y N i g h t , M a y 14, 1897,
drs o f the com pany shall he properly m an aged ; and,
If? VrtttUE on tither m a t t o r * w h ic h m a y ■ome before them at any stockIralitorY 1neetiufi, they will exorcism 111 o ju d g m e n t; but they assume
l a b i l i t y lit F©*pftct t o Hitch mu ungeniont. or in respect o f any
lifit juir M U aiitlo t h e ir v o t e * cast, It mints understood that no
VOtllUl ITi i i i e e tn cures » n y r«»spoti*tolii1 y fo r the act or om ission o f any
C*F n o r b y rv34M»u o f a n y srror o f law or o f any m atter or
lid ai?U1o 1rticm
ilt t e d u u fie r till* a g r e i incut, e x cep t fo r his ow n indilltlBir Joj
ritu a l m ftifp a ifi! ire.
L—Thi«
E io tm lUTjMirt a^roomen* may he w mult&neoiifdy executed in eev#, e a c h o f wliiCB s o e x ted shall be deem ed to be an
original;
eh counterparts shall together constitute but one and
t o e Kami« |Q«tUlincut. Any voting t -ustee hereunder may vote in
v-r by s>!fo x y t o any other p
es hereunto have set their
U KKc.F The several
tTjT5vrr
mi
wllm*
, F. P.
P. Mm
lay and year tir-t above mentioned,
rgan 4* Co. and the three voting trustees, viz.: J.
Ott, IL X. Paul,—Eds.]
STOCK TRUST CERTIFICATE.
Ttto ■took trust certificates issued under the. above agree*
Hit*331 3 re in th e following form, t h e y being a s stated in the
o u t , e it h e r N e w Y o r k a n d Philadelphia certificates,
&ecor* ng as issu ed by the New York or the Philadelphia
fcrast i jmpany,
f A’cie York Ccrliftm te.]
B eaihno Co m p a n y .
T im
H' ill |ms
f« 3 r r
ttitftst* ’
teg in
F irst Preferred Stock Trust Certificate.
ht o c e r t if y that, an hereinafter provided,
to receive a certificate o r certificate* for
ltd *hnrc». o f lilty dollars each In the fPpaT P ref e r r e d capital
the k l a d is o o im j ' any; and in the meantime to receive pay
qj«*l to the dividends* If any, collected ay the undersigned vot«!«■* upon a like number o f such shares standing In their
and. until after the actual delivery o f Mich certificates, the
' every natrn* and nature, including the right to vote, in respect
nd ail Mich *t«ick: U being expressly stipulated that no voting
ido this certificate, or by or under any agree*
id or Implied,
lie is iAsiind u
r and pursuant to the terras and con.ivre**mcnt dated February 1 , 1897, by and be*
. Mm
Co., m reopgaaizatiofi managers, and the imrotlfj
Wtm. No stock certificate* shall lie due or deifvrr fii« }Sr4 ilsj? o f January, 1.002, n or until the
vrther period, If nay, as shall ellipse before the
r two con >secu live years, shall have paid 4 per
dividends on its first preferred s to ck ; hut the
dr discretion, m ay make earlier delivery,
t ransfantbie only on the books o f the voting
by the registered holder, either in person or by
r*vd, aecoriting to rules established for that pur*
rustees, and on surrender hereof, and until go
* trustees may treat the registered holder aa
purpf»-«- h whatsoever, except that delivery o f
under shall not be m ade without the surrender
*|'1
mm
C T om m ercta l
Business in general has continued to drag. This has been
largely the result of the unsettled feeling pending the out
come of the tariff legislation. It is now reported that the
time for taking up the tariff bill by the Senate has been post
poned for one week and the impression has appeared to be
growing that there will be a long and bitter fight in that body
before the bill will be reported back to the House of Repre
sentatives, During the latter part of the week ttie Cuban
situation again came into prominence. A message to Con
gress is expected s! ortly from the President Bhowing his
positibn on the question and recommending that an appropri*
ation be made at once for the relief of suffering American
citizens in Cuba. The European political situation has been
considered, apparently, as progressing favorably, although
delay is reported in effecting an armistice between Turkey
and Greece, Additional export shipments of gold have been
reported, but they have had little or no influence.
Lard on the spot has had a limited sale to refiners, but the
export demand has been flat, and as the offerings have been
fairly large prices have weakened, closing at
4 ‘20c •
for prime Western, 3*70@8*75c. for prime City and 4 ’oOc. for
rt fined for the Continent. The local market for lard futures
. TjUJSTKRS TO SELECT SUITABLE DIRECTORS,
has been neglected and at the West the market has been
voting the stock held by them, fhe v otin g trustees
dr h o t judemewt from time to time to select suitable quiet, and under free offerings prices have declined, closing
riid that in aceordanec with the purposes first above easy.
to* few
aitc>
j VOL. u a v .
C H R O N IC L E
mi valid unless duly signed by J, P. Morgan &
registered by the Central Trust Company o f
?■in N ew i ork.
y be exclm iige^i *** such m anner m the voting
r, for a similar oertifittato to foe issued by D read
m voting in is tee*, and to be registered by the
•ny fo r
on Dives and G ranting Au
**r. ib© said voting trustees hnvc caused this cerby J, P. Morgan A? Ct» , their duly authorized
J. PlBFtPONT MORGAN,
F R E b E H lC P, OIAJOTT,
HENRY N. PAUL,
& f their Agent* iiereuuder,
day o f
DOMtMtt Or Ng’
)
I Voting TrmtctM.
,180 ,
York , firgistrar.
Trmt»fr,r Cltrk.
D A I L Y O L O a n t q , P R IC E S O F L A R D F U T U R E S .
Sat.
May..................................0. 4*30
M on,
4*25
Tues.
4*25
IT
4
Thur .
4*20
Pri.
4*15
Business in pork has been limited to small jobbing sales and
prices have weakened, closing at
75@$9 50 for mess, $9 50
@$10 50 for family and $9 50@§10 50 for short clear. Cutmeal e have been quiet and easy, closing at 5p£@5j£c. for
pickled bellies,
lbs average, 4%@5c. for pickled shoul
ders and y@yj. c. for pickled hams. Beef has had a limited
sale and has brought steady prices, closing at 87(288 for mess,
§8<8$9 for packet, $9@$1Q lor family and $12@$14 for extra
India mess. Beef hams have been firm, closing at $22@
$28.
Tallow has had a slow sale and prices have
further declined, closing at c. Oleo-stearins has also weak
ened, closing at 4}^c. and lard stearins has declined to 4% @
4J^c. Cotton seed oil has been quiet but steady, closing at
20c. for prime crude and 28J^@24c. for prime yellow. Butter
has been modfrately active and steady, closing at 12@15c. for
creamery. Cheese has been in fair export demand and firm
at 9@ l] J^c. for State factory, full cream. Fresh eggs have
been quiet and easy, closing at lOJ^ffiTOJ^c. for choice
Western.
The Brazil growths of coffee have continued to have a
moderate sale and prices have been unchanged and steady,
closing at . Business in the market for the mild grades has
been quiet but values have held about steady, closing at 14c.
for good Cucata and 25c. for standard Java. The specula
tion in the market for contracts has been quiet, but there has
been a slight advanoe in prices in response to stronger Euro
pean advices, closing quiet but steady.
The following were the final asking prices :
May.............
7 60o. [ A u g . . . . . . ......... 7*60o. |N ov ................
7*70o.
Juue ................ 7-?5o. Sept ................ 7*65o. D eo ...... .......... 7*7fio.
J u ly ................ 7*55o. 1O ct ................. 7*70o. I Jan .................. 7*80o.
Raw sugars have had alimited sale and prices have been
unchanged and steady, closing with sales at 3 5 16c. for cen
trifugals, 96 deg.-test, and 2J^c. for muscovado, 89-deg. test.
Refined sugars have been quiet but steady, closing at 4 9-16c.
for granulated. Teas have continued in demand at advanc
ing pricis.
Kentucky tobacco has been in fairly active demand for exp; rt at firm prices. Sales 250 hhds. Seed leaf tobacco has
been quiet but steady. Sales for the week were 740 caws, as
follows: 140 cases 1895 crop, New England Havana, 15@22c,;
200 cases 1898 crop, Wisconsin Havana 9J^e,;
cases 1895
crop, Zimmer’s, 10c.; 150 cases 1894-95 crop. Pennsylvania Ha
vana 12@13e., and 150 cases sundries, 5 @15c.; also 400 bales
Havana at 65c. to $1 10 in bond and 180 bales Sumatra at 80c.
to
50 in bond.
There has been an Increased demand for Straits tin, and
prictH have advanced, cloaipg at 13'55@18*60c. Additional
large sales have been made of ingot copper and prices have
advanced slightly, closing firm at 11@11 J^Jc. for Lake, Itead
has been freely offered and prices have declined, closing at
25c. for domestic. Spelter has been quiet but steady, closing
1 4*10@ 1 20c. for domestic Pig iron has been quiet and easy
at $9 25(2$ 12 00 for domestic.
Refined petroleum has been unchanged, closing at 6'25c. in
bbls., 8*75c. in bulk and 6*70c. in cases; naphtha lower at
5*6flc. Crude certificates have been neglected. Credit bal
ances have been steady at c. Spirits turpentine has further
decilnt d. closing steady at 28@28}£c. Retina have been quiet
and unchanged at $1 65 for common arid gord strained, Wool
has been has active and there has been some weakening in
prices. Hops have continued quiet and easy.
88
4
12@10
8
80
100
$2
8
1
86
May 15, 1897,]
THE
C H R O N IC L E
C O T T O N .
F r id a y
N i g h t , M a y 14, 1897,
T h e M o v e m e n t o f t h e C r o p , a s in d ic a t e d b y o u r t e le g r a m s
f r o m t h e S o u t h t o - n i g h t , is g i v e n b e lo w . F o r t h e w e e k e n d in g
t h is e v e n in g t h e t o t a l r e c e ip t s h a v e r e a c h e d 33.067 b a le s,
a g a in s t 43,333 b a le s la s t w e e k a n d 34,583 b a le s t h e p r e v io u s
w e e k , m a k in g t h e t o t a l r e c e ip t s s in c e t h e 1st o f S e p t ., 1896,
6,562,796 b a le s, a g a in s t 5,087,653 b a le s f o r t h e s a m e p e r io d o i
1895-6, s h o w i n g a n in c r e a s e s i n c e S e p .l , 1896, o f 1,475,143 b a le s.
Receipts at—
Mon.
Sat.
Wed.
Hues.
679
......
1,820
12
......
667
......
556
......
34
......
432
......
O has’to n , A c
W llm ’ t o n , A c
N o r f o l k .........
N. N ew s, A c.
A ll o t h e r s . . .
2 ,3 4 4
78
2 ,3 9 0
102
6 ,5 1 2
711
301
5 ,6 7 3
1 ,1 2 5
3 ,4 4 2
T o t. th is w k .
3 2 ,0 6 7
3 4 ,8 7 1
792
.........
282
66
......
1,576
......
498
......
5
......
451
......
Total.
575
......
4,461
4
......
1,289
......
590
......
15
......
267
......
235
59
775
......
511
28
......
105
......
13
.........
4
.........
1,050
.........
50
339
In a d d it io n t o a b o v e e x p o r t s , o u r t e le g r a m s t o - n i g h t a ls o
g iv e u s t h e f o l l o w i n g a m o u n t s o f c o t t o n o n s h ip b o a r d , n o t
c le a r e d , a t t h e p o r t s n a m e d .
W e a d d s im ila r fig u r e s f o Y
M ew Y o r k , w h ic h a r e p r e p a r e d f o r o u r s p e c ia l u se b y M e ssr s.
L a m b e r t & B a r r o w s , P r o d u c e E x c h a n g e B u ild in g .____________
O N S H IP B O A R D , NO T C L E A R E D F O R —
M a y 14 a t—
G re a t
B r i t a in .
N e w O r l e a n s ...
G a lv e s t o n ..........
S a v a n n a h ..........
C h a r le s t o n . . . .
M o b i l e ...............
N o r f o l k ...............
N e w Y o r k ..........
O th e r p o r t s ___
O th er
F ra n ce. F o r e ig n
2 ,6 9 9
4 ,0 2 S
N one.
N one.
500
4 ,0 0 0
3 ,3 0 0
3 ,8 0 0
N one
5 ,4 6 8
N one.
N one.
N one.
N one.
300
N one.
1 4 ,5 1 6
127
N one.
N one.
N one
N one.
5 ,8 0 0
2 ,9 0 0
L ea v in g
sto ck .
C o a st
w is e .
T o ta l.
370
1 ,7 6 1
N one.
300
N one.
2 ,5 0 0
N one.
N one.
1 7 ,5 3 5
1 1 ,3 3 4
N one.
300
500
6 ,5 0 0
9 ,9 0 0
6 ,7 0 0
9 5 ,3 4 9
3 2 ,7 7 2
12,646*
1 8 ,8 7 7
3 ,7 3 7
6 ,5 8 0
1 6 0 ,4 0 0
3 4 ,7 4 6
217
4,062
203
203
725 10,887
132
875
2,983
2,983
1 8 ,3 2 7
5 2 ,8 6 3
6 ,2 6 8 2 3 ,3 4 3
4 ,9 3 1
3 6 5 ,1 0 4
T o ta l 1 8 9 7 ...
390
4,614
T o ta l 1 8 9 6 ..
2 9 ,1 6 5
8
,3
6
7
3 3 5 ,7 1 3
2 ,6 6 6 3 0 ,7 9 9
7 0 ,9 9 7
537
587
3 3 ,5 0 6
7 ,9 1 2 3 2 ,3 4 6 1 2 ,8 4 2
5 0 8 ,2 3 6
T o ta l 1 8 9 5 ...
8 7 .1 0 6
21
2,344
S p e c u la tio n in c o t t o n f o r f u t u r e d e liv e r y h a s c o n t in u e d
.........
q u ie t.
T h e c o u r s e o f p r ic e s h is b e e n s o m e w h a t ir r e g u la r ,
1
78
b u t t h e n e t c n a n g e f o r t h e w e e k in v a lu e s h a s b e e n u n im p o r t
.........
a n t.
S a t u r d a y t h r e w a s a fir m e r t o n e t o t h e m a r k e t .
2,390
89
F o r e ig n a d v ic e s c a m e s t r o n g e r a n d w e r e a c c o m p a n ie d b y
102
102
b u y in g o r d e r s . T h e S o u t h w a s a ls o a b u y e r a n d t h e r e w a s
50
s o m e t h in g o f a d e m a n d f r o m lo c a l s h o r t s t o c o v e r c in fr a c t s ;
1,811
310
Boston..............
446
407
181
128
p ric e s a d v a n c e d , c lo s in g 4 t o 8 p o in t s h ie h e r f o r t h e d a y . T h e
275 m a r k e t o p e n e d q u ie t b u t 9 te a d y o n M o n d a y . S u b s e q u e n t ly ,
275
Baltimore.........
......
......
......
......
103
259
808
Philadelph’ a, Ac
407
37
h o w e v e r , a f t e r t h e r e c e ip t o f t h e m o n t h ly r e p o r t o f t h e G o v
Tot’ls this week 4,607 6,971 7,382 3,835 2,978 6,294 32,067 e r n m e n t ’s A g r ic u lt u r a l B u r e a u , w h ic h w a s g iv e n a b e a r is h
in t e r p r e t a t io n , th e r e w a s in c r e a s e d p re s s u r e t o s e ll, a n d
T h e f o l l o w i n g s h o w s t h e w e e k ’s t o t a l r e c e ip t s , t h e t o t a l s in c e p ric e s c lo s e d a t a d e c lin e o f 9 t o 13 p o in t s f o r t h e
S e p t. 1, 1896, a n d t h e s t o c k t o - m g n t , c o m p a r e d w it h la st y e a r.
day.
T u esd ay
th e
m ark et w as
e s ie r
d u r in g e a r l y
’C h a n g e in r e s p o n s e t o fo r e ig n a d v ic e s .
L a t e r in t h e
S to c k
1 8 9 6 -9 7 .
1 8 9 5 -9 6 .
R e c e i p t s to
d a y , h iw e v e r , th e w e e k ly rep >rt b y t h e G o v e r n m e n t ’s
S
in
c
e
Sep.
8
i
n
c
e
S
ep.
T
h
is
T
h
is
M a y 14 .
W e a th e r
B u reau ,
w h ic h w a s c o n - id e r e d
u n fa v o r a b le ,
1896
1897.
W e ek .
W eek .
1, 1 8 9 6 .
1, 189 5.
s t im u la t e d b u y in g t o c o v e r c o n t r a c t s , a n d p r ic e s c lo s e d a t a n
a d v a n c e o f 3 t o 6 p o in ts . T h e r e w a s a s lig h t ly ea sie r t o n ■t o
G a lv e s t o n ...
4 ,0 6 2 1 ,3 4 2 ,3 7 3
4 4 ,1 5 6
2 8 ,8 9 6
4 ,3 0 2
9 1 7 .6 9 9
th e m a r k e t o n W e d n e s d a y . F o r e ig n a Iv ica s w e e d is a p
T e x . C .,A o .
1 0 9 .5 7 2
4 ,5 7 1
201
193
1 1 2 ,0 3 3
p o in t in g , a n d d is p a to h e s r e c e iv e d f r o m s e c t io n s o f t h e S >uth
N e w O r le a n s 1 0 ,8 8 7 2 , 0 2 2 ,7 8 0 1 2 ,0 1 5 1 ,7 0 3 ,6 8 2
1 1 2 ,9 3 4
1 3 5 ,0 7 7
r e p o r te d w e a t h e r c o n d it io n s m o r e fa v o r a b le ; t h is p r o m p te d
2 8 3 ,5 8 2
M o b i l e ............
1 ,3 5 1
875
1 9 5 ,2 0 6
4 ,2 3 7
8 ,9 2 7
s o m j s e llin g a n d fin a l p r ic e s s h o w e d a d e c lin e o f 1 t o 5 p a in t s
8 7 ,5 7 3
F l o r i d a ..........
3 2 ,5 0 9
2 ,9 3 3
f o r t h e d a y . T h u r s d a y th e r e w a s a d u ll a n d u n in t e r e s t in g
8 2 7 ,3 3 0
S av an n ah ...
5 ,1 4 3
7 3 7 ,4 4 3
4 ,6 1 4
2 3 ,5 6 6
1 2 ,6 4 6
m a r k e t. T h e flu c t u a t io n s in p r ic e s w e r e c o n fin e d t o a fe w
B r ’ w ic k , A c
1 7 0 .2 2 5
2 .2 3 3
57
1 1 5 ,0 0 1
537
1 ,0 6 4
p o in ts, a n d a t t h e c lo s e p r ic e s s h iw e d p r a c t ic a lly n o c h a n g e s
3 9 5 .2 8 0
C h a r le s t o n ..
662
2 7 6 .1 1 4
1 6 ,4 6 3
2 ,3 4 4
1 9 ,1 7 7
f
o r t h e d a y . T o -d a y th e m a r k e t o p e n e d a t a d e c lin e o f 3 t o 5
7 1 ,0 9 1
P . R o y a l, A c
49
7 5 ,4 2 6
..4 ...
......
p o in ts in r e s p o n s e t o w e a k e r fo r e ig n a d v ic e s . L a t e r in t h e
W i lm i n g t o n .
301
5 ,8 6 4
78
2 3 4 ,2 8 9
1 6 6 ,5 6 1
4 ,3 5 6
d a y , h o w e v e r , s h o r t s b e c a m e n e r v o u s o v e r t h e c o n t in u e d
857
767
d e m a n d fo r s p o t o ,tto n , a i d t h y b o u g h t t o c o r e r c o n t r a its,
N o r f o l k .........
6 9 2 ,4 6 4
5 ,6 7 3
2 ,3 9 0
3 2 7 ,5 6 6
1 7 ,6 3 3
1 3 ,0 8 0
o n w h ic h p ric e s a d v a n c e d , d o s i n g ste id y , w it h p r ic e s 1 p o in t
1 6 ,6 3 0
N 'p o r t N ., A c .
1 ,1 2 5
102
1 6 6 ,5 6 1
1 ,3 9 9
lo w e r t o 3 p o in t s h ig h e r f o r t h e d a y . C o t t o n o n t h e sp it h a s
N ew Y o r k ...
4 8 ,1 2 7
50
1 7 0 ,3 0 0
5 2 ,6 9 3
1 2 8 ,8 7 5
b e e n fir m e r. P r ic e s a d v a n c e d 1 1 6 c . o n S a t u r d a y , d e c lin e d
B o s t o n ............
1 5 1 ,2 1 2
1 ,8 1 1
2 ,7 5 3
1 1 9 ,7 4 5
1 0 ,0 0 0
1 4 ,0 0 0
l-1 6 o . o n M o n d a y , b u t a g a in a d v a n c e d l-1 6 c . o n T u e s d a y a n d
6 0 ,4 8 2
107
4 7 ,2 0 5
B a lt im o r e ...
275
1 4 ,7 6 1
1 5 ,1 6 4
T h u r s d a y . T o -d a y t h e m a r k e t w a s s t e a d y , c lo s in g a t 7 1 3 -1 6 a .
806
P h ll a d e l .,A o .
4 0 ,9 0 0
525
4 1 ,4 3 7
6 ,6 9 1
8 ,6 1 3
f o r m id d lin g u p la n d s .
T h e t o t a l s a le s f o r f o r w a r d d e liv e r y f o r t h e w e e k a r e '
T o t a l s ........
3 2 ,0 6 7 6 ,5 6 2 ,7 9 6 3 4 ,8 7 1 5 ,0 8 7 ,6 5 3
4 1 7 ,9 7 3
4 0 6 ,7 1 0
448,30 ) b a le s . F o r im m e d ia t e d e liv e r y t h e t o t a l s a le s f o o t
I n o r d e r t h a t c o m p a r is o n m a y b e m a d e w i t h o t h e r y e a r s , w e up t h is w e e k 12,753 b a le s , i n c lu d in g 7,i)52 fo r e x p o r t , 5,306
g lv a b . l o w t h e t o t a ls a t l e a d in g p o r t s f o r s i x s e a s o n s.
fo r c o n s u m p t i o n , ------- fo r s p e c u la t io n a n d 400 o n c o n t r a c t .
T h e f o l l o w i n g a r e t h e o ff ic ia l q u o t a t io n s f o r e a c h d a y o f t h e
R eceip ts a t—
1896.
1895.
1897.
1894.
1893.
1892.
p a st w e e k — M a y 8 t o M a y 14.
G a lv e s ’ n A c ,
3 ,5 2 6
4 ,2 6 5
5 ,0 9 0
2 ,0 6 0
3 ,4 4 1
4 ,1 8 8
K ates o n a n a o f f m id d lin g , a s e s t a b lis h e d N o v . 33, 1893,
N e w O r le a n s
1 0 ,8 8 7
1 2 ,0 3 5
9 ,2 2 9
8 ,7 7 9
6 ,7 4 6
6 ,7 5 3
an d r e v is e d D e c . 1 1 ,1 8 9 5 , b y th e R e v is io n C o m m it t e e a t w h ic h
M o b i l e ..........
251
875
1 ,3 5 1
150
643
515
g r a d e s o t h e r t h a n m id d lin g m a y b e d e liv e r e d o n c o n t r a c t :
G ood O r d in a r y ............. o. 1
off.
F a ir
.............................o .
on.
S a v a n n a h ...
4 ,6 1 4
5 ,1 4 3
1 ,7 2 4
5 ,7 3 9
4 ,8 7 3
5 ,2 4 7
Galveston........
Tex. City, Ac.
New Orleans...
Mobile...............
Florida..... ........
Savannah.........
Brunsw’k, Ac.
Charleston.......
Pt. Royal, &c.
Wilmington___
Wash’ton, Ac.
Norfolk..............
Newport N.,&c.
1,024
......
3,088
633
......
587
......
666
......
19
......
101
......
Fri.
Thurs.
95T
775
1 ,1 7 1
1 3 ,5 9 5
156
259
858
705
4 ,9 3 1
1 ,3 2 3
272
2 ,5 6 6
1 ,7 8 0
8 ,5 7 4
1 ,7 0 3
222
2 ,1 6 6
2 ,3 4 5
7 ,9 0 0
3 0 ,5 6 5
2 1 ,6 0 4
3 2 ,6 2 5
3 0 ,6 7 0
M id d lin g F a ir ............ .. . . .
J t r io t G o o r t M id d li n g ........
G o o d M id d lin g — . . . . . . .
S t r ic t L o w M id d lin g ______
h o w M i d d l i n g .......................
S t r io t G o o d O r d i n a r y ........
G o o d M id d li n g T i n g e d . . .
S t r l o t M id d li n g S t a i n e d . .
M id d li n g S t a in e d ...............
S t r i o t L o w M id . S e i n e d .
L o w M id d li n g S t a i n e d . . . .
7a o n .
on.
= ,6 o n .
oft.
%
o ff.
n ,a o ff.
E v e n ..
I 32 o ff.
H
o il.
25s2 o ff.
o ff.
O n t h is ba sis t h e p r ic e s f o r a fe w o f th e g r a d e s w o u ld b e
fo llo w s .
xa.
s
S in c e S e p t . 1 6 5 6 2 .7 9 6 5 0 8 7 ,6 5 3 7 7 1 7 ,8 3 1 5 7 6 9 ,6 9 6 4 8 5 4 ,1 6 1 8 8 3 3 ,9 1 3
UPLANDS.
S at.
31 o ii r u e s W ed
T h e e x p o r t s f o r t h e w e e k e n d in g th is e v e n in g r e a c h a t o t a l
o f 67.328 b a le s, o f w h ic h 35,117 w e r e t o G r e a t B r ita in , 3,4o6
t o F r a n c e a n d 38,705 to t h e r e s t o f t h e C o n t in e n t . B e lo w a r e
t h e e x p o r t s f o r t h e w e e k a n d s i n c e S e p t e m b e r 1, 1896.
3cod Ordinary............................
Low Middling..............................
Middling............................. ..........
Lood Middling.............................
Middling Fair..............................
634
738
3’ is
8=8
6%
6l'ia 6%
7%
7=18 73s
7%.
7 lM8 734
8
8>,0 - 81,8
8%
89i«
8=8
7'3?e g ! a 81s
8%
8U.8 811,6
E xp ort i
fro m —
G a lv e a to n .......
T e x . City, A c..
N ew O rlean s..
M o b ile ..............
F lo r id a ...........
Savannah .......
Brunsw ick.......
C h a r le s to n ..
P o r t R o y a l. . . .
W ilm in g t o n ...
N o r fo lk ............
N ’ port N., Ac..
New f o r k .......
B a lt im o r e -...
P h ilad elp h ia..
8. Fran., A c . . . .
T otal
........
T ota l, 1895-90,
W eek Ending M ay 14, 1897.
E xported to—
Great
BriVn. France
8,621
4.540
2,983
1,286
Conti Total
nen t. W eek.
68
8,206
6,952
58
15,113
11.492
2,983
11,818 11,845
2,327
7.580
158
1,019
216
25,117
20,098
2,120
Great
Britain. France
732.541 188,470
.........
8t5,l66 422,280
142,693
68^732
48,263 15,341
99,157
78,322
69,109
95,431
143,637
5.200
9,427
302,228 29,441
8,801
18,601
60
1,069
80.013
300
800
3,211
3,406 38,706
260
2,327
From Sept 1, 1896, to May 14. 1897.
E xp orted to—
10,160
Conti
nent.
Total
281,404 1,202.415
21,793
21.798
624.613 1,862.004
6.488
373.017
21,789
191,8-9
111,363
45,693
1,078
218,804
72,22)
430,0 j 1
120.940
270,211
09,109
200,794
194,335
10,505
650,470
S at.
[non ru e s W e d
Th.
Good Ordinary............................
Low Middling.............................
Middling.....................................
Good Middling.............................
Middling Fair........................ ...
7
7=8
8
8S.s
87s
61=10 7
7=8
7^8
l\*ie 8
8H
8=16
813,8 87e
71,6
711.0 7 a , a
S 'l i
S3a
1*1’
815.0 815,6'
STAINED.
S at.
n o n T u e* W ed
68)
7%
7 732
7%
OLs
7? 1«
7 i°3v
7 U ,,
GULF.
Low Middling..............................
Middling.......................................
strict Middling...........................
Good Middling Tinged. ..........
30.617 2,092.689 457,065 1 097,042 4,247,230
r o t a l ...
65,220
153,333
9.964
68,431
7=8
8
8=18
87s
F r i.
71,6
xa.
Fri*
6*2
6ki
«?>•
7%
7'l<5 f c
73s
71T32 7i7;12 719^2
734
734
SALES O F 8 P O T AN D C O N TRA CT.
SP O T M A R K E T
C L O SED .
67,228 2,920,125 668 932 2,057,218 5.640,275
05,093
7
M A R K E T AN D SALE S.
S a t’ d a y .
M onday.
T u esd ay
W ed’ d ay
Th’d a y ..
F r i d a y ..
8,197
F r i.
6 316 613ie
F ir m a t i i « a d v .
S t e a d y a t 1ae d c .
S t e a d y a t i j g ad.
s t e a d y ...................
F ir m a t i ,« a d v
F i r m ......................
E x
p o rt.
O o n - S p ecs u m p . uVVn
2 ,1 9 4
500
1 ,7 6 3
121
1 ,6 3 7
270
719
1 ,3 2 5
1 ,1 3 4
7 ,0 5 2
5 ,3 0 6
700
1 ,8 9 5
C on
tr a c t.
T o tH .
S a le s o f
F u tu r e s .
___
___
....
821
3 ,9 8 2
270
2 ,9 1 3
1 ,8 2 5
2 ,9 4 7
5 3 ,1 0 0
1 0 4 .5 0 0
9 6 ,6 0 0
7 0 ,3 0 0
4 0 ,4 0 0
8 3 ,4 0 0
___
4 0 0 1 2 ,7 5 3
4 4 8 ,3 0 0
....
400
....
OOOOhOW
ow oo oq oo oo ^q«o
t
*#r**"r»»ot> eo
f*050010 **ft<
** iHCM tft p-l
iftf
jo
00 06«W ®
w ooow w N
f- cl ©©?«© r*ci
tO*OC3iMO>W«
t--r^ 04 101-4
Cl
>
2
2
O 2O5Ot -o®
^ 'i,
qo© o ©q
w 8
S g
-1 s
© «
CO o
53
CO ■
A
l i l !l ! H
to.c <£rJ*£r-*©
501>*>5*000^ H* -Cf
30I-•#-< *•#»■< 00
tf s
>©©«-**o ©
lO o t 'O O M
- u O o ® ,^ ^ r>
rt»Cl*cTl^HO Cl
iciaoco-4« ’“< »
IT*©*
t>
i
cT
| -S*f%^s
O O O o ® ri
-i<C0«if5r-<
r-*co o t" 05 2
<© di» , n 0010 COCO ^ .O CO
C* HH CDO »0
o o O c o c ic o
0 0 0 «N *0
ooo«n w
©Vo^koV ci
f" COCO05COCl
kOOdkOH
o o o o o
o o o o o
qoe«qq
rHCO^oTea
ft* oomci
25
O
m
*1 “ o o
'<i£ $ ~ft*- §<J)
^3 Ci HH ft*
d c o u
o : c g ^ S S :&
*"
OT0> ^
a 'j
§± g a s fb ® *
M
Q
m
B3
Sh
**1
3aPll
Market, P rites and
Sates o f
SUTURkB.
O
>4
SC
sS
Market,
R anaeand
Total Sates.
rn <D .ft q
I ®
a s
I
l - 'g
0 rO Q u
Is sa-5 i? ^ - £ 3 l § . s i 1 s s s
1 ^ 5
S'
•^§S|3ag •a*--og t SS "«-*
2 i §
<m 52
8 s a'g'O £ § >D
ililfp .
I f j| | | 1
s i* -® S
s
» $ £ ? 2 S $ jS a
^ ’S c S ’g a O
r, s '« sa § -2 fi S RS ft « « § f l s i
f g s H S f a i s - i s " a l l s a< j f w B ' g g l *
J ja a - S S - d t e K ls iS § ® S ~ g D S
“ ° r l § l “ ® * S ^ o S ^ l® 3 3 S $ s & t
5 «X *a S a g «* « 3 1 1 1 5 * * 3 g
© o © g g -jf p:^ k
hh A §ge*p
i m PDD m
i
flilllip lf
'S i l l
S3w £®o
OQ0D
II
a
| j§ 2 ° * 2
^ £r o i J x o ^
s
I
<£> OS
5 >«
53Sf
M A IL T
June.
May.
H e le n a,
a
AK1LAN8AS,.
GEOKQIA,...
(i
«
**
ti
Oolumbtis,
5
; * ;r-jm ® g
2S
!. 1I .I°ooA
A , 5©ifP_
«
Al a b a m a . . .
h
OOOWHtC
OOONOK5
© © © qi> q
aoi-~c*t>rS(S
OaOOOOHCOi-*
O'tfOlrlie
3|ii2Sgf
E a f a n la ,
L ittle Rook,
flig i j
Q
**■8
TOWNS.
OOOOOH
OOO -^CICO
o o q t '- H fti
0*OQOCOI>0*
<MH*t>o«r>H
Ci<Qr4■*#*->
July.
August.
R om e/
L ouis v llle .rte « K e n t u c k y .
Shreveport, L o u i s i a n a .
M is s is s ip p i.
Columbus,
Greenville,
**
Meridian,
*<
Natchez,
H
Vicksburg,
«
Vazoo City,
M is s o u r i. . .
St. L o u I b,
N .C a r o l i n a
Charlotte,
Raleigh,
Clnoiunatt, O h i o ...............
8. Ca r o l in a
Columbia,
G reenw ood,.
T e n n e s s e e ..
M emphis,
ft
Nashville,
Bren ham,
T e x a s ............
it
Balias,
it
H ouston,
T o t a l , SI townB..........
PRIO RS A SM
September.
SALS8
October.
OF FTJTURE8
November.
Movement to May 15, 1896,
Receipts.
Shipm’ts Stock
This
Fhit
Since
week. S ep t, 1 /9 5. week. M a y 15.
Movement to M ay 14, 18H7.
Receipts
Shipm’ tt Stock
This
Thu
Since
May 14.
week. Sept. 1,’ 98. week
6
73
98
50
450
01
238
290
81
50
128
59
212
146
51
40
4,063
169
179
3,211
548
83
1,143
057
08
13
3,401
15,574 4,374,753
FOR EAOH
December.
15,461
128,125
08,945
50,500
38,144
32,404
56,079
130,579
281,299
45,021
60,814
62,640
7,095
102,484
34,647
57,520
41,117
63,783
;
80,654
59,341
521,978
22,731
26,258
289,217
34,464
16,152
550,436
27,262
54,471
52,633
1,S12,486
17
440
227
776
31
96
1,480
119
435
2X 0
103
1,047
170
1,561
1,520
1,114
3,990
1,044
173
2,263
11,720
1,806
213
1,176
310
4,147
108
20
67
15
385
144
32
89
305
968
123
42
313
40
327
36
200
2 ,0 0 0
250
187
713
192
5,961
169
177
3,308
348
83
5,392
750
1,293
1,918
7,288
1,521
31,733
14
3,705
883
3,942
.....
120
14,940
619
380
58
3,591
170
3,0 43
350
75
2,187
MS
258
87
5,040
220
54
5,0S9
125
99
22
....
10,324
117,288
34,861
50,138
98,073
26,753
50,006
90,737
172,415
46,790
50,140
51,222
5,650
77,000
2 h,375
40,500
33,177
47,778
04,818
53,321
549,330
19,730
20,587
191,390
32,947
15,302
415,307
20,930
53,467
41.126
1,033,659
28,274 131,701 1 19,047 3.550,315
MONTH.
January.
February. 1
March.
A p ril.
A v ’g e ..------- [
Firmer.
A v 'g e .. 7*42 A v’g e.. 7*45 A v’ ge.. 7*49 A v ’ge.. 7*47 A v ’ge.. 7*16 A v ’ge.. 0*94 A v ’g e .. 8*94 A v ’g e.. 6*96 A v ’g e.. 7*00 A v ’ge.. 7*04 1A v 'g e..
200
...
......
20,300
2,500
3,800
3,700
3,300
10,400
5,700
2,300
OOO
53,100
— # '-ft
— # —
| Rricm paid {range) 6 0 2 * 7-52 7*40# 7*43 7*42* 7*47 7*45® 7*52 7*43® 7*49 7*13® 7*19 6*92® 6*90 0*93® 0*95 0*95® 6*97 6*99® 7*01 7*04®
—
—
-7
0
S
7*10
7
0
0
7*01
7
*
0
4
7*06
0*95—
6*90
6*90®
0*97
7*50—
7*51
7
*
4
8
—
7
*
1
7
7*18
6*95—
0*90
Steady.
7'40— 7-47 7 * 4 7 - 7*48
«Jlo»inr . . . . . . . . . . . .
—
*
A
v
’g
e..-------A
v'ge..
7*02
A
v
'g
e..
A
v
'g
e
..
7*10
A
v
’
ge..
6*88
A
v
’ge..
6*93
A
v
’ge..
7*42
A
v
’ge..
6*88
A
v
’ge..
6*88
A
v
’ge..
7*46
A v 'g e.. 7-43 Av'ge.. 7*41
[Monday May 10—
49,000
800
9,000
3,700
3,900
4,400
12,21)0
0,000
13,100
104,500
2.400
' $nXmt ie tA h ,. . . . . . .
— *# —
™*
{ fhrtiMM paid (range) 6 - « 2 » 7-53 7*3S # 7*50 7*38# 7*51 7*39® 7*53 7*3(8# 7*50 7*05® 7*18 0*82® 6*94 0*82 ® 0*95 6*84 ® 6*95 0*88® 7*00 7*02® 7*03
Steiwly.
7 * 3 7 - 7*38 7 * 3 8 - 7 39 7*41— 7*42 7 * 3 7 - 7*38 7 * 0 6 - 7*07 0 * 8 3 - 6*84 0 * 8 3 - 0*84 6 * 8 5 - 6*80 6 8 0 - 6*90 6 * 0 3 - 6*95 6 * 0 7 - 0*99 •“ ****"i C S w la g .,.....* * .,.,'
Firmer,
A v 'g e,. 7*41 Av'RB.. 7*11 A v 'g e.. 7*44 A v ’ge.. 7*40 A v 'g e .. 7*08 A v 'g e.. 6*84 A v’ge,. 0*85 A v’ ge.. 6*87 A v 'g e.. 6 00 A v 'g e.. 6*01 A v 'g e.. -— * a v ' k©. . ------ Tuesday, May SI—
4,200
4,500
200
38,000
15,600
7,900
8,100
3,300
14,400
90,600
400
— # ™
®
j pyiotM paid (m age) 6*82 » 7*4B 7*37# 7*42 7*39 a 7*45 7*40® 7*46 7*30® 7*44 7*05® 7*11 0*82® 6*87 0*82 ® 6*88 6*83® 0*91 0*88 ® 6414 0*94# —
6
*
9
7
6*98 7 * 0 1 - 7-03 —* —*
0
*
8
7
6*88
6
*
9
2
6*93
7
*4
3
7*44
7
*
1
0
7*11
6
*
8
7
0*88
6*89—
0*90
•
7 * 4 2 - 7*43 7 * 4 4 - 7*46 7 * 4 7 - 7*48
Steady,
j Olmdng.. . . . . . . . . « « .
----Av*|?©,.—
A
v
'g
e..
6*82
A
v'ge.
7*08
A
v
'g
e
,.
------A
v'ge
A
v
’ge..
6*83
A
v
'g
e.,
0*88
A
v
'g
e..
0*85
A
v
’ge..
7*38
A V g e .. 7*40 A v ’g e ., 7*42 A v 'g e.. 7*44
Easier.
w'#*iu«*d'yfMiiy 12™
0,400
3,700
2,300
... ...
25,800
11,000
8,500
0,600
3,500
70,300
1,000
— # •
*
|
paid im age) 0*81# 7*43 7*38# 7*45 7*889 7*40 7*41® 7*49 7*30® 7*43 7*04® 7*08 6*81® 0*80 0*82 ® 6*85 0*84® 0*88 6*8 K® 0 90 — a —
Steady,
7 - 4 1 - 7*42 7 4 2 - 7*43 7 * 4 5 - 7*46 7 * 3 9 - 7*40 7 * 0 5 - 7*06 0 * 8 3 - 6*84 6*02— 0*83 0 * 8 5 - 0*81- 0*89™ 0*90 0*03— 0*94 6 * 9 7 - (HIP “ *• **** ***
AV%0.. — — 1
A v 'g e ., 7*41 A v' ro. 7*43 A v’ge.. 7*40 A v 'g e .. 7*38 A v ’g e.. 7*05 A v ’ge.. 0*83 A v ’ge.. 6*S3 4 f (n » . 0*84 Av’ g e .. M i A v’ ge. -------- Av*fa,. —
Bull,
4,900
16,800
2,000
2.500
1,700
700
7,800
***
400
3,000
40,400
— •# — I
#
7*42® 7*43 7*44® 7*47 7*37® 7*39 7*05® 7*00 0*81# 6*85 0*81 » 6*84 IV84# 0*85 0*88 it 0*89 —* # —
0-81 # 7*47 7*41# —
Steady.
7-41 - 7*42 7 * 4 2 - 7*43 7 *4 8 - 7*46 7 * 3 8 - 7-39 7 * 0 5 - 7*07 0 h*4 - 8*85 0 * 8 3 - 0*04 8*85— 6*P8 0*00™ 0-90 8 * 1 - 6*94 0*87— 04>9 • A
, —— I
A v'ge.. 7*40 A t' rb. 7*41 A v 'g e.. 7*44 A v ’g e ., 7*36 A v 'g e.. 7*08 A v’ge.. 6*84 A v ’ge.. 6*85 Av’ ge.. 6*87 A v ’ge.. 0*90 A v 'g e..-------- A v 'g e..VtUUnft May 14—
6,900
]
5,000
6,200
5,800
20,500
4,800
7,400
20,300
500
S3,400
— # — j
— 9
* , 7*38# 7*40 7*30# 7 46 7*39 0 7*48 7*34® 7*39 7*02® 7*05 0-82 9 0*86 8*81# 6*86 0 ‘« 4 # 0*83 0*88# 0*92 paid itauagei
?*ol
6*97
Steady, ! 7*4i— 7*44 | 7 * 4 4 - 7*45 7 * 4 0 - 7*47 7**38- 7*30 7 * 0 4 - 7*00 0*«0™ e-s? <1*85™- 0*80 0*87— fi*SS 0*91— 0*92
jTharaAay, May IS-*-
(Average pnem^ w m k
441*^300 *
0,500
7*41
fJtala# ti mm Bmp, !«*##*
77,i t 7JW0 1 4,002,000
1
20,400
7*43
77,600
7*45
170,100
7*40
23,300
708
34,500
0*80
40,100
0*86
42,000
6*88
20,000 |
0*93
747,800
735,500
a,2 ?7 ,«00
104,800
173,700
431.800
393,200
13 3,400 I
1,200
7*00
*** I
_J
4o o
3
64
397
552
463
1,710
258
5*29
673
1,471
136
72
219
48
1,092
100
2,500
356
169
871
1,079
8,154
202
2,400
2,422
5,320
5,270
-10,900
.......
5.842
148
800
1.082
7 000
11.097
187,120
100
©s
© ^ o *§•
* k | r .
3 ?1 C §
S ft *?*
,, . ■
.HbS
& L** I to
|-f
J c * '55 « s
■s d .2 - 1 2
g * 8 * «
t i ® » a
l ^ a i l
a i g * t
S '*
fl o
2 ,0 0 0
1,500
2,941
....
760
45,375
195
2,370
•15
18,000
170
4,918
350
k3
0 © © l* fc.
45©^ «* ©«
SEHH
s
^
I f r
350
2,084
1,225
1,100
14,685
1,480
3,332
5.005
12,310
5,090
3,050
1,605
3 ll
3,847
108
i l r
s
S ’3 ►‘ g - a
&g | l ^
O '- .* K§
^S=8_
S S lI s f
l i l § !
-? s « 't . S
®s i - b
l : I i 5
Ma y
THE
15, 1897.]
CHRONI
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 .—
B e lo w a re c l o s i n g q u o t a t io n s o f m i d d l i n g c o t t o n a t S o u t h e r n
a n d o t h e r p r in c ip a l c o t t o n m a r k e t s f o r e a c h d a y o f t h e w e e k .
Week ending
M ay 14.
Galveston. .
New Orleans
Mobile.........
Savannah...
Charleston..
Wilmington.
Norfolk.......
Boston.........
Baltimore. .
Philadelphia
Angnsta.......
Memphis___
St. Louis___
Houston___
Cincinnati..
Louisville...
J L 0 3 IN G UUOTA.TIONS F O S M ID D L IN G COTTON- ON —
Satur.
T 'w
71=18
7ia
7^3
71 *18
713lfJ
8
7%
7%
Mon.
Tues.
713
7%
79ia
7-,ia
713
7iis
7*4
7\
7%
7 ‘ iia
7 l316
s
7%
733
7^8
71519
713
Wednes.
713
713
7°i*,
77,8
7%
713
73s
734
71=16
8
7%
7\
7\
733
713
713
77ia
7116
75s
7 >3
7 ‘ ia
77ia
7=8
7=8
713
7H
713
713
73a
733
7118
7116
Thurs.
713
713
7°]ft
77,8
733
713
733
7\
71316
8116
7%
7^8
77ie
77is
758
73a
Fri.
713
713
7»in
7'16
7%
713
7=8
71318
713,6
gba
7%
738
77,0
7718
7%
713
Lb.
W eather
R eports
b y t e le g r a p h
eral a t th e
T e l e g r a p h .— R e p o r t s
S o u t h d u r in g t h e w e e k
in
a f e w d is t r ic t s
tom e in ju r y t o
w as
th e
in
y o u n g c o tto n , th e
b e n e fit e d
of
us
a n d t h a t in lo c a lit ie s
bad
m o is t u r e
T exas
crop
stan d s.
p la in e d o f a t s o m e p o in t s .
C ool
w as
o f th e
S ta te
as a
fa ir c o n d itio n .
A rk an sas w e
w ea th er at
P la n t in g is
needed,
h e a v y r a in f a ll d id
a n d t h e p la n t is in
F r o m s e c t io n s o f M is s is s ip p i a n d
p la in t s
to
r a in h a s b e e n g e n
L o u is ia n a t h e p r e c ip it a t io n h a s b e e n r a t h e r
A s a r u le , h o w e v e r ,
a n d w h ile
w h o le
by
t h is e v e n in g d e n o t e t h a t
in T e x a s a n d
heavy.
959
have com
n i g h t is c o m
c o m p le t e d a s a r u le
o n u p la n d s a n d s e e d is n o w b e i n g p u t in o n s o m e r e c e n t ly s u b m e r g e d la n d . B r e a k s h a v e o c c u r r e d t h is w e e k in t h e
le v e e a t B a t o n R o u g e , L a ., b u t la t e s t a d v ic e s in d ic a t e t h a t
th e y h a v e b e e n
r e p a ir e d .
T h e r iv e r is s t e a d ily f a l li n g a t
M e m p h is a n d H e le n a .
T h e c lo s i n g q u o t a t io n s t o - d a y (F r id a y ) a t o t h e r i m p o r t a n t
G a lv e s t o n , T e x a s .— G e n e r a l r a in s w e r e m u c h n e e d e d in
S o u t h e r n m a r k e ts w e r e a s fo l l o w s .
s o m e lo c a lit ie s , a n d w h ile t h e h e a v y p r e c ip it a t io n d id s o m e
7G Natobez........ .
Atlanta......... .
7t4 Eufanla.. . . . . . .
7=ia d a m a g e t h e b e n e fit t o t h e c o t t o n c r o p a s a w h o le w i l l m o r e
67g Raleigh...........
Charlotte___ _
7\ Little R ook....
719
t h a n c o u n t e r b a la n c e it .
F a ir w e a t h e r w o u ld n o w i m
Montgomery...
Tit Selma...............
Columbus, Ga.
7
p r o v e t h e c r o p a n d e n a b le fa r m e r s t o c le a n o u t w e e d s a n d
7
Columbus. Miss
7
Nashville....... .
7H Shreveport___
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 f o l l o w i n g t a b le g ra ss. T h e p la n t , h o w e v e r , is in f a ir c o n d it io n , a s m u c h o f
in d ic a t e s t h e a c t u a l m o v e m e n t e a c h w e e k f r o m t h e p l a n t a t io n s . it h a d b e e n c h o p p e d o u t p r io r t o t h e r a in s . W e h a v e h a d
T h e fig u r e s d o n o t in c lu d e o v e r la n d r e c e ip t s n o r S o u t h e r n r a in o n t h r e e d a y s d u r in g t h e w e e k , t h e r a in f a ll r e a c h in g
T h e th erm om eter has a v er
c o n s u m p t io n ; t h e y a r e s im p ly a s t a t e m e n t o f t h e w e e k ly n in e t y h u n d r e d t h s o f a n in c h .
m o v e m e n t f r o m th e p la n t a t io n s o f t h a t p a r t o f t h e c r o p w h ic h a g e d 76, r a n g in g f r o m 70 t o 81.
P a le s tin e , T e x a s .— I t h a s r a in e d o n f o u r d a y s o f t h e w e e k ,
fin a lly r e a c h e s t h e m a r k e t t h r o u g h t h e o u t p o r t s .
t h e r a in f a ll b e i n g t w o in c h e s a n d e i g h t y - f o u r h u n d r e d t h s .
W eek
R eceipts a t ths Port*. St'k at In terio r Towns. R ec 'p tsfr o m P la n t’ns. T h e t h e r m o m e t e r h a s r a n g e d f r o m 60 t o 86, a v e r a g in g 73.
H u n ts v ille , T e x a s .— W e h a v e h a d r a in o n t w o d a y s o f t h e
E n d in o—
1806.
1897.
1807. | 1800.
1805.
1897.
1895.
1896.
1895.
p a st w e e k , ih e p r e c ip it a t io n b e i n g b e i n g s ix t y - f iv e h u n
A p r. 9 ....... 46.639, 67,967 93,523 232,170 280,927 247.849 19,759 44.912 05,456 d r e d t h s o f a n in c h .
A v e r a g e t h e r m o m e t e r 76, h ig h e s t 88
M 16....... 48.705! 40,076 80,617 204,020 263,609 212,77? 20,045 22,758 45,541 a n d lo w e s t 63.
“
23....... 47,2*0, 64,666 69.965 184,847 247,104 186,041 28,087 38,161 43,83*
D a lla s , T e x a s .— T h e r e h a s b e e n r a in o n f o u r d a y s o f t h e
** 30....... 34,588, 39,828 56,937 171,920 233,044 165,978 21,661 25,768 36,274
p a s t w e e k , t h e p r e c ip it a t io n r e a c h i n g o n e in c h a n d t w e n t y M ay 7....... 42,333! 37,331 41,900 144,401 209,770 148,553 14,814 14,057 24,476
T h e t h e r m o m e t e r h a s a v e r a g e d 72, t h e
“
14....... 30.0071 34,871 80.665 131,701 187,120 137.322 19.367 12.221 19.334 t w o h u n d r e d t h s .
h ig h e s t b e i n g b e i n g 86 a n d t h e lo w e s t 59.
T h e a b o v e s t a t e m e n t s h o w s : 1 .— T h a t t h e t o t a l r e ce ip ts
S a n A n t o n io , T e x a s .— W e h a v e h a d r a in o n t h r e e d a y s
f r o m t h e p la n t a t io n s s in c e S e p t. 1 ,1 8 9 8 , a re 0,573,903 b a le s ; in d u r in g t h e w e e k , t o t h e e x t e n t o f t w o in c h e s a n d fo r t y - s i x
1895-00 w e r e 5,213,073 b a le s ; i n 1894-95 w e r e 7,797,818 ba les.
h u n d r e d t h s o f a n in c h . T h e t h e r m o m e t e r h a s a v e r a g e d 73,
3 .— T h a t a l t h o u g h t h e r e c e ip t s a t t h e o u t p o r t s t h e p a st w e e k r a n g in g fr o m 60 t o 86.
w e r e 32,087 b a le s, t h e a c t u a l m o v e m e n t f r o m p la n t a t io n s w a t
L u lin g , T e x a s .— Y o u n g c o t t o n h a s b e e n s e r io u s ly d a m a g e d
o n ly 19,367 b a le s, th e b a la n c e b e in g t a k e n f r o m t h e s t o c k s at b y h a il-s t o r m . T h e r e h a s b e e n r a in o n fiv e d a y s d u r in g t h e
t h e in t e r io r t o w n s . L a s t y e a r t h e r e c e ip t s f r o m t h e p la n t a t io n s w e e k , t h e p r e c ip it a t io n r e a c h in g o n e i n c h a n d s ix t y - t h r e e
f o r t h e w e e k w e r e 12,221 b a le s a n d f o r 1895 t h e y w e re h u n d r e d t h s . T h e t h e r m o m e t e r h a s r a n g e d f r o m 62 t o 87,
19,334 b a le s .
*
a v e r a g in g 74.
C o lu m b u s , T e x a s .— I t h a s r a in e d o n t w o d a y s d u r in g t h e
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 in c e S e p t . 1 .—
W e g iv e b e lo w a s t a t e m e n t s h o w i n g t h e o v e r la n d m o v e m e n t w e e k , t h e p r e c ip it a t io n b e in g n in e t y -t h r e e h u n d r e d t h s o f a n
f o i t h s w e e k a n d s in c e S e p te m b e r 1. A s t h e r e tu r n s r e a c h us in c h . A v e r a g e t h e r m o m e t e r 72, h ig h e s t 84 a n d lo w e s t 61.
C u e r o , T e x a s .— W e h a v e h a d b e n e fic ia l r a in o n fiv e d a y s
b y t e le g r a p h la t e F r id a y n i g h t it is im p o s s ib le t o e n te r so
la r g e ly in t o d e t a il a s in o u r r e g u la r m o n t h l y r e p o r t , b u t all d u r in g t h e w e e k , t h e r a in f a ll b e in g t w o in c h e s a n d s i x t y t h e p r in c ip a l m a t t e r s o f in t e r e s t a re g i v e n . T h is w e e k ly fo u r h u n d r e d t h s . T h e t h e r m o m e t e r h a s a v e r a g e d 76, t h e
p u b lic a t io n is o f c o u r s e s u p p le m e n t a r y t o t h e m o r e e x te n d e d h ig h e s t b e in g 89 a n d t h e lo w e s t 63.
B r e n h a m , T e x a s .— I t h a s r a in e d o n fo u r d a y s o f t h e w e e k ,
m o n t h ly s t a t e m e n ts . T h e r e s u lt s f o r th e w e e k e n d in g M a y 14,
t h e p r e c ip it a t io n r e a c h in g s ix t y - t h r e e h u n d r e d t h s o f a n in c h .
a n d s in c e S e p t. 1 in t h e la s t t w o y e a r s a r e a s fo llo w s ,
T h e t h e r m o m e t e r lia s a v e r a g e d 76, r a n g in g f r o m 62 t o 89.
1895-96.
1896-97.
F o r t W o r t h , T e x a s .— I t h a s r a in e d o n t h r e e d a y s o f t h e
M ay 14
w e e k , t h e p r e c ip it a t io n r e a c h i n g o n e in c h a n d f i f t y h u n
Since
Since
Week. Sept. 1.
Week. Sept. 1.
d r e d t h s . A v e r a g e t h e r m o m e t e r 72, h ig h e s t 86 a n d lo w e s t 59.
W e a th e r fo r d , T e x a s .— W e h a v e h a d r a in o n t h r e e d a y s
Shipped—
Via St. Louis.................................
8,154 515,979 d u r in g t h e w e e k t o t h e e x t e n t o f t w o in c h e s a n d s ix t e e n
5,961 507,228
Via Cairo.......................................
2,376 231,047 h u n d r e d t h s . T h e t h e r m o m e t e r h a s a v e r a g e d 72, t h e h ig h e s t
2,287 260,778
Via Parker....................................
289
641
17,810 b e in g 84 a n d t h e lo w e s t 59.
17,753
2,584
1,681
N e w O rlea n s. L o u is ia n a .— R a in h a s fa lle n o n t w o d a y s o f
Via Louisville..................... .........
1,037 132,501
2,105 126,944
2,602 135,770
2,312
96,779 t h e w e e k , t o t h e e x t e n t o f e ig h t e e n h u n d r e d t h s o f a n in c h .
Via Cincinnati..............................
326 114,534
Via other routes, &o....................
997
89,325 T h e t h e r m o m e t e r h a s a v e r a g e d 75.
S h r e v e p o r t, L o u is ia n a .— I t h a s r a in e d o n s i x d a y s o f t h e
Total gross overland............... 12,562 1,171,143 16,585 1,079,565
w e e k , t h e r a in f a ll b e i n g t h r e e in c h e s a n d fif t e e n h u n d r e d t h s .
Deduct shipments—
2,942 303,751
Overland to N. Y ., Boston, &o..
3,385 261,085 T h e t h e r m o m e t e r h a s r a n g e d f r o m 62 t o 86, a v e r a g in g 74.
Between interior towns..............
4,210
3,306
7
7
C o lu m b u s , M is s is s ip p i.— T h e r e is c o n s id e r a b le c o m p la in t o f
Inland, &c., from Sooth..............
520
37,982
47,043
573
b a d s ta n d s . T h e c r o p is v e r y b a c k w a r d . W e h a v e h a d r a in
o
n
t h r e e d a y s d u r in g t h e w e e k , t o t h e e x t e n t o f o n e in c h a n d
Total to be deduoted............
3,469 345,949
311,494
3,965
e le v e n h u n d r e d t h s . A v e r a g e t h e r m o m e t e r 69, h ig h e s t 88
Leaving total net overland*..
9,093 925,199 12,620 768,071
a n d lo w e s t 58.
* Including movement by rail to Canada.
L e la n d , M is s is s ip p i.— T h e w e e k ’s r a in f a ll h a s b e e n t w o
T h e f o r e g o i n g s h o w s t h a t t h e w e e k ’s n e t o v e r la n d m o v e m e n t in c h e s a n d f o r t y - e i g h t h u n d r e d t h s . T h e t h e r m o m e t e r h a s
th is y e a r h a s b e e n 9,093 b a le s , a g a in s t 12,620 b a le s f o r th e a v e r a g e d 68, t h e h ig h e s t b e in g 80 a n d t h e lo w e s t 61.
w e e k in 1896, a n d t h a t f o r t h e s e a s o n t o d a t e t h e a g g r e g a t e n e t
V ic k s b u r g , M is s is s ip p i.— P l a n t in g o n h ill la n d s h a s g e n e r
o v e r la n d e x h ib it s a n in c r e a s e o v e r a y e a r a g o o f 57,128 ba les.
a lly b e e n c o m p le t e d t h is w e e k . S o m e p la n t in g , is b e in g
d o n e o n la n d r e c e n t ly s u b m e r g e d . W e h a v e h a d r a in o n
1895-96.
1896-97.
fiv e d a y s d u r in g t h e w e e k , t h e r a in f a ll r e a c h in g s e v e n t y In Sight and Spinners’
Since
Since
Takings.
n in e h u n d r e d t h s o f a n in c h . T h e t h e r m o m e t e r h a s a v e r
Week. Sept. 1.
Week. Sept. 1.
a g e d 71, r a n g in g f r o m 60 t o 86.
L it t le R o c k , A r k a n s a s .— W e h a v e h a d r a in o n fiv e d a y s
Reoelpts at porta to May 1 4 _____ 32,067 0,562,796 34,871 5,037,653
9,093 825,199 12,620 768,071 d u r in g t h e w e e k , t h e p r e c ip it a t io n r e a c h in g fif t y -n in e h u n Net overland to May 14.................
Southern consumption to May 14 18,000 724,000 18,000 703,000 d r e e t h s o f a n in c h . T h e t h e r m o m e t e r h a s r a n g e d f r o m 56 t o
59,160 8,111,995 65,491 6,558,724 81, a v e r a g in g 69.
Total marketed...........
12,700
11,107 *22,650 154,420
Interior stocks In excess.
H e le n a , A r k a n s a s .— B e t w e e n c o o l w e a t h e r a n d c u t w o r m s
i t lo o k s a s t h o u g h h ig h la n d s w o u ld n o t h a v e m u c h a d v a n
42,841
Came Into sight during week. 46,460
6,713,144 t a g e o v e r t h e in u n d a t e d t e r r it o r y . S t a n d s o f c o t t o n a r e n o t
8,123,102
Total in sight May 14........... .
g o o d . T h e r iv e r h a s fa lle n e le v e n fe e t , b u t m u c h la n d is
North'n spinners tafc’ga to May 14
2 ,3 4 9 1,535,721 24,406 1,480,191 s t ill u n d e r w a t e r . T h e d e c lin e d u r in g t h e p a s t t w e n t y - f o u r
' Decrease during week.
h o u r s h a s b e e n fiv e in c h e s . I t h a s r a in e d li g h t l y o n t h r e e
I t w ill b e se e n b y t h e a b o v e t h a t t h e r e h a s c o m e in t o s ig h t d a y s o f t h e w e e k , t o t h e e x t e n t o f fo r t y - t h r e e h u n d r e d t h s o f
d u r in g t h e w e e k 46,460 b a le s, a g a in s t 42,841 ba les f o r t h e a n in c h . A v e r a g e t h e r m o m e t e r 66, h ig h e s t 77 a n d lo w e s t 54.
N a sh v ille, T en n essee.— W e h a v e h a d r a in o n t w o d a y s o f t h e
s a m e w e e k o f 1896, a n d t h a t t h e in c r e a s e in a m o u n t in s ig h t
w e e k , t h e p r e c ip it a t io n r e a c h in g o n e in c h a n d t e n h u n t o -n ig h t as c o m p a r e d w it h la s t y e a r is 1,409,958 b a le s .
THE
BfSO
4 u .i 5?!-'
(VOL, LXIV,
C H R O N IC L E .
0
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 wahave made with Messrs, Davies, Benachi & Co., o f
*'* \trr.•
JVnnr<*#/.—-Cut worms and cool weather will Liverpool and Alexandria, we now receive a weekly cable of
.-isndi.WraWv replanting. We have had rain or, the movements of cotton at Alexandria, Egypt. The following
{$,,*:«>
(he week, the precipitation being seventy-nine are the receipts and shipments for the past week and for the
liundre ;t>.» t.f as inch. The weather is now clear and cool corresponding week of the previous two years.
Xiiv tht no •meter has averaged 70-0, the highest- being 81-7,
A lexandria, Egypt,
1896-97.
1895-96.
1894-95.
and the few* -t as.
,
M ay 12.
...
A labam a. —Good and beneficial rains have fallen
interior. but the crop is v.-ry backward^, Receipts (oantare- )___
Tills w eek......... .........
5,000
30,000
8,000
stand* ar. j«>•«-ir and condition 1# not favorable. It has rained
Slave Sept, l ..............
4,530,000
5,726,000
5,181,000
here on two <lav« of the week, the rainfall reaching three
This
Since
Since
This
Since
This
inches .ui i sewn hundredths. The thermometer has ranged
week. Sept. 1 . week. Sept. 1. week. Sept. 1.
from <Wto 7fl. avenging 72,
Mvuttf'-jmtry, A labam a .—Farmers are progressing rapidly Exports (bales)—
5,000 315.000 4.000 252.000
To L iv e r p o o l___ . . . . 5,000 310.000
with t h e ir work. Days and nights have been warmer and
T o O on tlneu tl........... 14,000 331.000 j 7,000 286.000 4.000 313.000
the outlook is improving. W e have had rain on two days of
the week, the niinfall reaching two hundredths of an inch,
T otal E u rop e___ _ 19,000 641,000 112,000 611,000 8,000 565,000
Average thermometer 74, highest 83 and lowest 04.
* A ean tartsO S pounds.
Ms !>,»•., F lorida . — We have had rain on one day during
4 Of whloh to A m erica in 1898-97,46,923 bales; iu 1 8 9 8 -9 8 ,5 3 ,7 7 5
th> w. k. t ! •rainfall reaching one inch and five hundredths. bales; in 1894-95, 40,893 bales.
M a n c h e s t e r M a r k e t .— Our report received by cable
The therm .meter lias averaged 78, ranging from 62 to 89.
ikm tn n a h , G eorgia .—W e have had rain on two days of the to-night from Manchester states that the market is quiet for
past week, the precipitation being fifty-three hundredths of both yarns and shirtings. Manufacturers are working at a
t ige thermometer 73. highest S3 and lowest 58. loss. We give the prices for to-day below and leave those for
'i o .r g i a ,—There has been rain on two days the previous weeks of this and last year for comparison._________
past week, the rainfall reaching eighty-seven hundredths of
1896.
1897.
ius inch.
Vhe thermometer Inis averaged 73, the highest
8H
lbs. Shirt Oott’ n
8 1* lbs. Shirt Oott’n
being 87 and the lowest 52.
32* Oop. ings, common Mid. 32* Oop. ings, common Mid.
CAur.’<.<,'..n. S’juth C a rolin a .— There has been rain on one
h
oist.
Twist.
to finest.
Vplds
Vplds
to finest.
day during the week, the precipitation reaching forty-sis
8. d. e. d.
d.
hundredths of an inch. The thermometer has ranged from
a.
a.
d.
d.
d. b. d. s. d.
6h!
4 4b j® 6 8 hi 4 » M
Apr. 9 etja ®7h<i 4 0 ®C 7
02 to , averaging 74.
4 0 ®6 7
6^3 ® 7% 4 4hs®6 8 >a
4*4a
“
16
6%
®7H
SUUtburg, South C a rolin a . —Telegram not received.
-i'a 6% ®73e 4 4>a®6 8>a 4U 32
“ 23 6~is »7 * m 4 0 3 6 7
O r t t n S o u t h C arolin a .—Crops are doing well. We
" 30 Shi ®73a 4 0ia® 6 7k! 4M 6b, ®?3g 4 4*a®6 9
41*32
haw had rain on t wo days during the week, the rainfall May 7 e » u ®7<ia 4 1 ® 6 7hs
f ? ie ® 7tie 4 5 ® 6 9>a
45 s3 6% 0 ® 7716 4 5 -36 9
being one inch and thirty nine hundredths. The thermom “ 14 6 >3 ®7»8 4 o % ® 6 7
45«
eter has averaged 72. the highest being
and the lowest 62.
S e a I s l a n d C o t t o n M o v e m e n t .— We have received this
B'ttoa. X arih C arolin a.— It has rained on four days of the (Friday) evening by telegraph from the various portB the
s'"- k. the precipitation reaching one inch and thirty-three details of the Sea Island cotton movement for the week. The
hundredths. Ttu- thermometer has averaned 73, ranging receipts for the week ending to-night (May 14) and since
from 52 to #4.
Sept, 1,1896, tbe stocks to-night, and the same items for the
The following statement we have also received by telegraph, corresponding periods of 1895-96. are as follows._______ ______
showing the height of the rivers at the points named at
Stock.
1896-97.
1895-96.
o'clock May 18. 1897, and May 14, 1896.
f u * therm ctui-wr b u s averages! ? , ranging from
5
88
88
8
Receipts to M ay 14.
May 13, '97, May 14, ’ 96.
. .A bov e zero o f gauge.
..A b o v e xero o f gauge.
___ . .A bove xero o f gauge.
, .*.***.,.. ..A b o v e xero o f gauge.
Vick* tmr#:- * . . . . . . . . . ..A b o v e xero o f gauge.
VMM 0ri$AJ!ft»*w.
Memphis
I n d ia ■ > r r o s M
ovem ent
F
P
rom all
Feel.
19-3
28-7
12-2
83
50-G
o r t s .—
The
Feet.
5S-3
11-9
3*1
3-8
26-G
Since
This
Since
This
weeks Sept. 1. week. Sept. 1. 1897.
1896.
Savannah ..........................
Charleston, &o.................
Florida, &o.......................
64
9
52,866
10,380
6,733
55
12
74.42S
10,420
4,783
9,017
1,532
2,753
2,414
940
2,016
T otal.............................
73
99,979
67
89,631 13,332
5,376
Ibe exports for the week ending this evening reach a total
receipts
and shipments of cotton at Bombay have been as follows for of 94 bales, of which 36 bales were to Great Britain, 58
to France and — to Reval, and the amount forwarded
the week and year, bringing the figures down to May 13.
to Northern mills has been 198 bales, Below are tbe exports
SOMHAT H O K C T* AND SHIPMENTS FOE POOR YB4JJS.
for the week and since September 1 in 1896-97 and 1895-96.'
j
(hit ic-mk.
yfeer'
_ . .
).SHTn, mmts j
’ 99-7
95-6
94-5
’ 83-4-
Shipments since Sept. 1.
Great j Conti’
Britain] nent.
Receipts.
This
Week.
Total.
Since
Sept. 1.
Exports
from —
....... 32,000 32.000 24.000414.000
8,000 19,000 58,000
6,00© 31,000 37.000
....... 35,000 35.000
488.000 48,000 1,286,000
64.000
585.000
040.000:65,000 1.847.000
10.000 810,000 329.000175.000 1.120.000
41,000 610,000 651.000
50,000
1,439,000
According to the foregoing Bombay appears to show
■ curarci v.-itis last year in the week’s receipts of
!*,' •! hales and a decrease in shipments of 24,000 bales, and
the *bf potent* since Sept, i shown d ecrease o ( 181,000 bales.
The movement at Calcutta, Madras and other India ports for
the cLreparted week and since the 1st of September, for two
r m n , !u t b**en ;t~ follows, “ Other porta" cover Ceylon,
Tutionnn, Kurraohee and Oooonada
j BhipmmU f o r (he vm-k.
: 0 rm l
\Britain.
ContinmiL
.........
4*000
8,000
m m , . | ::::::
A ll tftMvs**
J 2M 0
r n m m f .. A . . . . . .
.........
i m ^ m , ..
s
Total.
0.000
Shipments since Sept. 1.
Great
B ritain, Continent.
Total.
4.000
8.000
6,000
10,000
48.000
54.000
51.000
61.000
......
6,000
10,000
14,000
7,000
20,000
17,000
7,000
0,000
0 ,0 0 0
22,000
13.000
68,000
58,000
90.000
71.000
8*000
17.000
11,000
17*000
34.000
33.000
130.000
119.000
164.000
102.000
T ot*! i l l —
J
’vovri totals for the week show that the movement- from
tt:« p a ’ * other than Bombay i» ,W » bales less than the same
week l»*t year. For the whole of India, therefore, the total
•slproants t i m e isopf ember , 1898, and for the corresponding
6
-
!
-
•«rs
j
I# mu Mm
.
j
1
: ■
:iv .
1896 ■97.
T hu j
ftp '
| it,$ocL
4&J0QO
J . ' ,f f
to mmon m
j
s
al
raom
1805-96
1 fh i* 1 Bin*
BftjiL %, J wmk, I Mept.
1894-95.
This
week.
Since
Hcpt, 1,
t a s .o w i 56.00'’' 049,000 W ,0 00
104,000; 17,060’ 152.000
4,000
328.000
109.000
632,0001 73,000
437.000
801,000
41.000
8’ vann’ h, &o
Oliarl’t’n.&c
B’lorlda, «feo.
New 5'ork ..
B oston ........
Phils., & o...
Week E nding May 14. Since Sept. 1 ,1 8 9 6 .
North’n Mil s.
Great F r’ ncc
Great France
Total.
Total. BriVn. <6 c.
BriVn. cSc.
Since
Week. Sept. 1.
15,023
2,933
3,170 18,204
2,933
198 27,524
1,925
6,733
" " 9 4 10,882
10,992
3,622
6,702 17,584
10,992
102 3,724
'" 3 6
""5 8
T eta l........
36
58
94 43,457
9,980 53,437
198 36,182
Total 1895-6
770
145
915 39,566
(1,901 46,467
887 38,173
Quotations May 14 at Savannah, for Floridas, common,
c.: medium fine, c.; ohoiee, 13^c.
Charleston, Garolinas, medium "tine, 15@17J^c.; fine, 18c,;
fully fine, 1 9 @ 2 0 c . ; extra fine, 2S@33c.
E xchanges,—T he following exchanges have been made
during tbe week:
8
10
.02 pd. to exeh. 500 Aug. fo r July. •04 pd. to exeh. 4,600 Aue;.for July.
02 pd. to exoh. 500 Nov. fo r Ttoo. •54 ltd. to excli.S.OOO Jau. fo r J u ly.
*03 pd. to exoh. 700 Aug. for July. •05 pd. to exoh , 700 Ang. fo r July.
22 pd. to exoh. 300 Oct. for Sept.
*10 pd. to exoli. 300 Oct. for Fob.
•02 pd. to exoli. 500 June fo r July.
'21 pd. to ox ch . 200 Oct. fo r S ep t
■17 pil. to exeh. 500 Jau. fo r Sept. •08 pd. to exoli. 100 Aug. fo r July.
Even 100 Juno for Aug.
•04 pd. to exoli. 200 June tor July.
•20 pd. to exoh. 400 Oct. fo r sept.
•10 pd. to exoh. 100 Nov. fo r Felt.
•34 pd. to exoh. 300 Sept, for July. ■08 pd. to exoli. 000 Aug. fo r Ju ly.
•01 pd. to exeh. 200 May for June. ■60 pd. to exeh . 100 Nov. fo r Ju ly.
•18 pd. to excli. 200 J an. for Sept. •02 pd, to exoh. 200 M ay fo r June.
•01 pd. to exoh, 200 May f o r June.
03 pd. t o exoh. 100 Deo. fo r Jan.
H i g h W a t e r in t h e M i s s i s s i p p i ,— B reaks in th e le v e e s a t
Baton Rouge, In., this week overflowed land in Ascencion,
Baton Rouge, lbi-rvitte and St. James parishes, including
much rich sugar territory. These breaks have been repaired
and the situation is now more encouraging. Elsewhere in the
Mississippi Valley the water is steadily receding and planting
is in progress where practicable.
J o t b B u t t s , B a g g i n g , & c . — 'The market for j u t e bagging
has shown no special activity the past week and prices are as
last quoted, viz.; V { a . for 1:; .{ lbs., of-gC. for 3 lbs. and }^c.
for standard grades. Car-load lots or standard brands are
quoted at J£o. for \% lbs., 5,3$o. for lbs. and G%o. for
Ids, f. o. b,, at New York, Jute butts have been very quiet
at l'05c. for paper quality, l -3)o. for mixing and l ^ c , for
bagging, all to arrive.
6
8
2
May 15, 1897.]
THE
C H R O N IC L E ,
G o v e r n m e n t W e e k l y C o t t o n R e p o r t . — M r. W . L . M o o r e ,
C h ie f o f th e W e a th e r B u r e a u o f th e A g r ic u lt u r a l D e p a r tm e n t ,
m a d e p u b lic o n T u e sd a y th e fo l l o w i n g
t e le g r a p h ic r e p o r ts o n
th e c r o p s in th e S o u th e r n S ta tes f o r t h e w e e k e n d in g M a y 10:
V i r g i n i a .— T o o c o o l a n d d r y f o r g o o i c r o p g r o w t h ; *** c o t t o n a n d
D ean u t p la n tin g b e g u n .
N o r t h C a r o l i n a .— W e e k t o o c o l d a n d w i n d y , w i t h in s u f f i c ie n t r a i n
f a ll , r e t a r d in g g r o w t h ; s e e d s s p r o u t i n g p o o r l y , r e s u l t i n g i n b a d s t a n d s
o f c o tto n an d co r n ; c h o p p in g c o tto n c o m m e n ce d .
S o u t h C a r o l i n a .— U n f a v o r a b l e w e e k ; c o r n p l a n t i n g a n d r e p l a n t i n g
c o n t in u e s , c o m i n g u p s l o w l y a n d i n ju r e d m a t e r ia l l y b y w o r m s ; c o t t o n
a b o u t a ll p la n t e d , m u c h r e p l a n t in g n e c e s s a r y , p l a n t s s m a l l a n d s io k l y ,
a n d s t a n d s ir r e g u la r .
G e o r g i a . — Co n t in u e d d r y w e a t h e r a n d c o o l n ig h t s w e r e d e t r im e n t a l
t o g r o w in g c r o p s ; c o t to n a n d o o r n b e in g w im e d , s ta a d s o f o o t h p o o r .
F l o r i d a .— E x c e l l e n t w e e k f o r g e n e r a l c u l t i v a t i o n a i d c l e a n i n g
c r o p s ; c o p i o u s a n d g e n e r a l r a in s w D h h ig h e r t e m p e r a t u r e e s s e i tal
f o r c o t t o n , c o r n , o a n e , t o b a c c o a n d v e g e t a b l e s , w h io h s h o w s l ig h t
im p r o v e m e n t .
A l a b a m a .— W e e k d r y a n d o o o l . e x c e p t w a r m e r t o w a r d s c l o s e ; r a i n
n e e d e d t o s t a r t la t e o o r n a n d c o t t o n , w h ic h a r e u p t o p o o r 9 t a n d s a n d
m u c h b e in g r e p la n t e d ; c o t t o n c h o p p i n g p r o g r e s s in g a n d c o r n r e c e i v
in g s e c o n d p lo w in g .
M i s s i s s i p p i .— C o t t o n f a i r s t a n d a n d a b o u t h a l f c h o p p e d o u t ; c o r n
w o r k e d o u t ; s o m e c o t t o n a n d c o r n (r e p la n te d o w i n g t o w o r m s a u d u n
f a v o r a b l e w e a t h e r ; m o r e r a in a n d h e a t r e q u i r e d , e s p e c i a ll y f o r g a r
d e n s ; w o r m s a n d o t h e r p e s t s i n c r e a s in g ; w a t e r r e c e d in g s l o w l y o n
lo w la n d s .
L o u i s i a n a .— N ig h t s c o n t in u e c o o l f o r c o t t o n , p o o r s t a n d s , r e q u i r in g
r e p la n t in g , s o m e c h o p p i n g o u t ; c o r n g o o d , s o m e l a y i n g b i ; c a n e f lo u r
is h in g ; r ic e n o t a ll p la n t e d b u t w h a t is u p i s g o o d ; r a in f a l l b a d ly d i s t r i b
u t e d , e x c e p t o v e r c e n t r a l p o r t io n o f s u g a r b e l t ; s o m e s e c t io n s n e e d
r a in b a d ly .
T e x a s —W a r m s h o w e r s i m p r o v e d c o t t o n g e n e r a l l y , b u t m o r e r a in
b a d l y n e d e d in l o c a li t ie s o v e r s o u t h p o r t i o u , a n d w o u ld I m p r o v e
t h e c r o p in e x t r e m e e a s t e r n p o r t io n ; o o t t o n c le a n in s o u t h e r n p o r t i o n
a n d b e in g c h o p p e d o a t in n o r t h e r n p o r t io n , w h e r e in l o c a l i t i e s g r a s s is
bad.
A r k a n s a s .— C o t t o n a n d c o r n a b o u t a ll p la n t e d a n d c o m i n g u p , b u t
t o p o o r s t a n d s , d a m a g e d b y o o o l n ig h t s a n d c u t w o r m s ; w e a t h e r
f a v o r a b l e f o r p l o w i n g a n d p l a n t in g , b u t u n f a v o r a b l e f o r g r o w t h ;
w h e a t , o a t s a n d f r u it d o i n g f a i r l y w e ll; h o t s u n s h in e , f a l l o w e d b y r a iu ,
needed.
T e n n e s s e e .—E a r ly p a r t o f t h e w e e k o o o l a n d o l o u n v . l a t t e r p a r t
f a v o r a b l e ; e a r l y p la u t lu v s o f c o r n a u d o o t t o n b e in g w o r k e d , b u t d a m
a g e d b y c o o l n ig h t s ; o u t w o r m s d e s t r u c t iv e in p la c e s ; r a in n e e d e d .
O k l a h o m a .— C o r n a n d c o t t o n s . l l l b a o k w a r d o n a c c o u n t o f c o n t in u e d
r a in s a n d c l o u d y w e a t h e r .
S t a t e W e e k l y C o t t o n R e p o r t s .— W e g iv e b e lo w su m m a r ie s
o f th e re p o r ts f o r th e w e e k e n d in g M a y 10, issu e d h y th e v a
r io u s S ta tes, u n d e r th e a u sp ic e s o f th e W e a th e r B u r e a u o f
th e J . S. D e p a r tm e n t o f A g r ic u lt u r e , s o fa r as t h e y a p p ly to
cotto n .
V i r g i n i a . — A. w e e k o f u n u s u a lly c o o l a n d s o m e w h a t d r y w e a t h e r
h a s h a d a n u n f a v o r a b l e e f fe c t o n c r o p * , o h e o k i a g t h e ir g r o w t h u n t i l
t h e l a t t e r p a r t , w h e n , u n d e r th e I n flu e n c e o f r is i n g t e m p e r a t u r e a n d
l ig h t l o c a l s h o w o r s , a n I m p r o v e m e n t In c o n d i t io n w is n o t i c e a b le .
M o r e r a in a n d a c o n t in u a n c e o f w a r m w e a t h e r Is u n io n n e e d e d . C o t
t o n a n d p e a n u t p la n t in g h a v e b e g u n in t h e s o u t h e a s t e r n c o u n t i e s ; a n d
c o r r e s p o n d e n t s r e p o r t a l a r g e r a c r e a g e p u t t o c o t t o n t h a n u s u a l.
N o r t h C a r o l i n a . — E a s t e r n D is tr ic t.— T h e w e e k w a s fla e f o r w o r k .
T h e w e a t h e r h a s b e e n t o o c o o l f o r o o t t o n , c a u s i n g It t o o o rn e u p s l o w l y
a n d l o o k p o o r l y ; s o m e m a y h a v e t o b e r e p la n t e d . C h o p p i n g c o t t o n
h a s c o m m e n c e d . C e n t r a l D is tr ic t.—T h e w e a t h e r w is flu e f o r w o r k ,
b u t th e g r o w th o f c r o p s h as b e e n v e r y s lo w o n a c c o u n t o f th e c o ld ,
l i g h t fr o 3 t e v e n b e in g r e p o r t e d f r o m N o r t h e r n p o iu t s . C o t t o n Is q u it e
b a c k w a r d a n d g r o w i n g s l o w l y ; s o m e b e in g c h o p p e d .
W e s te r n D is tr ic t.
— T h e p a s t w e ^ k w a s c le a r , d r y a n d o o o l u n t il T h u r s d a y . w h * u t h e
w e a t h e r b e c a m e w a r m e r . T h e b r is k w in d s d u r i n g t h e w e e k c a u s e d
la n d s t o c r u s t a n d b a k e , a n d w a r m r a in s a r e m u c h n e e d e d . C r o p s
m a d e m o r e a d v a n c e m e n t t h a n iQ o t h e r d i s t r i c t s , t h o u g h s e e d s a r c
c o m in g u p s l o w l y . C o n s id e r a b le p r o g r e s s m a d e in p l a n t i n g a n d f a r m
w o r k is a b o u t u p . 8 o m e o o t t o n a n d c o r n s t ill t o b e p l a n t e d a n d s t a n d s
o f b o t h a r e n o t g e n e r a l l y v e r y g o o d ; c o o l w e a t h e r k i ll e d s o m e c o t t o n
o n s a n d y la n d s .
S o u t h C a r o l i n a —T h e c o n d i t io n o f c o t t o n h a s i m p r o v e d h u t lit t le
in t h e m o s t f a v o r e d e e c iio u a . a u d in rn au y p la c e s h a s d e t e r io r a t e d
T h e c o o ! w e a t h e r c a u s e d t h e p l a n t t o l o o k s i c k ly a n d o n c e r t a in la n d s
t o d ie o u t . M u c h o f t h a t p la n t e d b e f o r e th e r a in s o f t h e p r e v io u s w e e k
w il l, In t h e w e s t e r n c o u n t i e s , h a v e t o b e r e p l a n t e d , w h io h is n o w
b e i n g d o n e . F i r s t p l a n t i u g p r a c t i c a l l y flo is h e d . C h o p p i n g t o s t a n d s
c o n f in e d t o e a s t e r n a n d c e n t r a l c o u n t ie s . S t a n d s ir r e g u la r , b u t o n th e
w h o le n o t s a t i s f a c t o r y .
S e a I s la n d c o t t o n a ll p l a n t e d , s t a n d s fa ir ,
th ou gh d a m a ged som e b y c a t w orm s.
A l a b a m a .— T h e w e e k w a s m a r k e d b y a l m o s t a n e n t ir e a b s e n o e o f
r a in iu th is s e c t i o n ; th e e a r ly p a r t o f t h e w e e k w a s o o o l . a n d b e l a t e d
r e p o r t s o f la s t w e e k s h o w l ig h t f r o s t h a v i n g o c c u r r e d iu n o r t h e r n
c o u n t i e s o n th e 2 d a n d 3 d ; t h e s e c o n d i t io n s , w it h p r e v i o u s c o o l
w e a t h e r , l o w e r e d the* c o n d i t io n s o f a ll s t a p l e c r o p s , b u t w a r m w e a t h e r
d u r i n g th e l a s t f e w d a y s o f th e w e e k m a t e r ia l l y a id e d g r o w i a g c r o p s ,
t h o u g h r a in is b a d ly n e e d e d t o r e li e v e t h e o r u s t e d c o n d i t io n o f t h e
g r o u n d a u d g i v e o o t t o n a n d c o r n a g o o d s t a r t . C o t t o a l o o k s s ic k , a n d
w h ile t h e c r o p h a s a ll b e e n p la n t e d , s t a n d s a r e s o p o o r t h a t m u c h o f it
is b e i n g r e - p l a n t e d ; t h a t in f a v o r e d l o c a l i t i e s h a s b e e n c h o p p e d o u t ,
a n d c h o p p i n g is n o w p r o g r e s s in g i n o t h e r p o r t io n s a n d s o m e b e i n g
c u lt iv a t e d .;
^ M i s s i s s i p p i .—T h e w e e k g a v e c o n t in u e d f a v o r a b l e w e a t h e r f o r f a r m
w o rk , b u t w a s t o o d r y a n d c o o l fo r th e ra p id g r o w th o f v e g e ta tio n . A
f a ir s t a n d o f c o t t o n is r e p o r t e d , a n d a b o u t h a l f t h e c r o p is c h o p p e d
o u t . C o r n is w o r k e d o u t , b u t r e p o r t e d s m a ll in s o m e l o c a li t ie s . C o n
s id e r a b le c o t t o n a n d c o r n h a v e b e e n r e p l a n t e d , d u e t o u n f a v o r a b l e
w e a t h e r a n d i n s e c t p e s t s . R e p o r t s o f w o r m s a r e i n c r e a s in g a t a n
a la r m in g r a t e , a n d m u c h d a m a g e h a s b e e n c a u s e d t h e r e b y . T h e w a t e r
s r e c e d in g B lo w ly o n l o w la n d s , a n d p l a n t i n g c o n t in u e s a s t h e w a t e r
a lls .
L o u i s i a n a . - T h e n ig h t s c o n t in u e d t o c o o l f o r a n y r a p i d g r o w t h o f
v e g e t a t i o n , a lt h o u g h th e d a y s w e r e w a r m . F i e l d w o r k p r o g r e s s e d
r a p id ly .
R a in is n e e d e d o v e r t h e g r e a t e r p o r t i o n o f th e n o r t h e r n p a r is h e s t o
g e r m in a t e a n d b r i n g u p l a t e p l a n t e d a n d r e p l a n t e d c o t t o n . P l a n t i n g
i s g e n e r a l l y c o m p le t e d a t
a n d c h o p p i n g o u t t h e c o t t o u Is p r o g r e s
s in g . S t a n d s o f c o t t o n a r e , a s a r u le , f a u l t y a n d s o m e d y i n g o u t c o n
t in u e s t o b e r e p o r t e d , n e c e s s it a t i n g a d d it io n a l r e p la n t in g . W o r m s a r e
a ls o i n ju r in g t h e c r o p in lo c a li t ie s . A l o n g th e r iv e r p a r is h e s , o r f r o m
M a d is o n t o C o n c o r d ia , w h e ro th e b a c k w a t e r Is f a ll i n g , la u d s a r e b e in g
p l a n t e d in c o t t o n a s r a p l d l v a s p o s s ib le ; b u t t h e d e c l in e Is s l o w a n d
o v e r t h e l o w e r p o r t io n o f t h a t s e c t io n t h e r e is a c o n t in u e d r is e o f s o m e
t w o I n c h e s p e r d a y . P la n t e r s in C o n c o r d i a a n t i c ip a t e b e in g a b l e t o
p l a n t b y J u n e 1 s t t o l O t b .j
961
I n t h e s e c t i o n f a v o r e d w it h r a i n s , r e p o r t s o n c r o p s a r e m o r e f a v o r
a b le , t h e r a in s f a ll i n g a t t h e c l o s e o f t h e w e e k a f t e r fie ld w o r k h a d b e e n
t r o u g h t u p a n d a t a t im e w h e n t h e c a n e , c o r n a n d r ic e r e q u i r e d then o is tu r e . C ro p s o n s u c h a re a lo o k fr e s h a n d v ig o r o u s , b u t s in c e th e
ta in s o n l y c o v e r e d t h e c e n t r a l p o r t i o n o f t h e s o u t h e r n p a r is h e s , t h e
m o r e e a s t e r n a n d w e s t e r n p o r t io n s c o m p la in o f t h e l a c k o f s e a s o n a b le
S h ow ers.
T e x a s .—T h e s h o w e r y w a t h e r d u r i n g t h e w e e k r e t a r d e d f a r m i n g
♦ p e r a t io n s t o s o m e e x t e n t , b u t w e r e v e r y b e n e f i c i a l f o r g r o w i n g c r o p s .
T h e d r o u g h t s t ill p r e v a ils a l o n g t h e c o a s t , w h e r e r a in is v e r y m u o k
n e e d e d in s o m e s e c t io n s , a n d s h o w e r s w o u ld b e b e n e f lo ia l f o r f a r m i n g
In t e r e s ts o v e r t h e e a s t e r n p o r t io n o f t h e S t a t e . T h e s h o w e r s , w h e r e
t h e y o c c u r r e d , w e r e v e r y b e n e f i c i a l jt o o o t t o n . b u t t h e c r o p is n e e d i n g a
g e n e r a l ra in a l o n g t h e c o a s t , a n d s h o w e r s w o u ld b e b e n e f i c i - 1 t o t h e
c r o p o v e r th e e a s t e r n p o r t i o n o f t h e S ta te .
T h e w a rm w ea th er
t o w a r d th e c l o s e o f t h e w e e k s t a r t e d t h e p l a n t t o g r o w i n g n i c e l y o v e r
C e n tr a l a u d S o u th T e x a s , b u t t h e p la D t a p p e a r s t o g r o w s l o w l v o v e r
N o rth T e x a s a n d h a s n o t r e c o v e r e d f r o m t h e e f fe c t s o f t h e l a t e
cool w ea th er.
H a il o n t h e 6 t h d i d s o m e d a m a g e t o t h e c r o p
in a f e w l o c a l i t i e s o v e r C e n t r a l T e x a s , a n d i t is r e p o r t e d t h a t
Ivorm s a r e d o in g c o n s id e r a b le d a m a g e t o th e c r o p in th e v ic in it y o f
D u v a l a n d S a n M a r c o s ; o t h e r w i s e t h e c r o p is d o i n g v e r y w e ll. M u ch ,
co tto n has b e e n w o rk e d o u t o v e r C e n tra l a n d S o u th T e x a s , a ad a ta ir
$tand is r e p o r t e d in m o s t s e c t i o n s o f t h e S t a t e .
T e n .n e s s e e — T h e fir s t h a l f o f t h e w e e k w a s o l o u d y , o o o l a n d g e n
e r a lly u n f a v o r a b l e t o t h e g r o w t h o f v e g e t a t i o n , h u t n o t s u o h a s t o d e
la y f a r m w o r k , w h io h p r o g r e s s e d a s u s u a l. F r o s t s w e r e r e p o r t e d g e n
e r a lly ov e r t h e S t a t e o n t h e m o r n in g o f t h e 2 d , r e s u l t i n g in s o m e d a m
a g e t o y o u n g c o r n a n d c o t t o n in s o m e s e c t io n s , b u t a s a r u l e t h is w a a
s lig h t . D u r in g th e l a t t e r p a r t o f t h e w e e k c o n d i t io n s w e r e v e r y f a v o r
a b le , a n d t h e g r o w t h o f v e g e t a t i o n w a s g r e a t l y p r o m o t e d ; b e s i d e s ,
f a r m e r s g e n e r a l l y w e r e e n a b le d t o p u s h t o c o m p le t i o n t h e s p r i n g p l a n t
in g s . T h e r e is a ls o o o m p l a in t In t h e w - s t e r n s e c t io n o f b a d s t a n d s o f
c o t t o n , a u d th e o o o l n ig h t s o f t h e e a r l y p a r t o f t h e w e e k w e r e n o t c o n
d u c iv e to h e a lth y g r o w th .
A r k a n s a s .—T h e w e a t h e r h a s b e e n g e n e r a l l y f a v o r a b l e f o r p l o w i n g
a n d p l a n t i n g a n d f a r m w o r k is w e l l a d v a n c e d . O w i n g t o c o o l n i g h t s
a u d d e f ic i e n t r a i n f a ll v e g e t a t i o n h a s m a d e b u t l it t l e g r o w t h . M o s t o f
t h e c o t t o n a n d c o r n is p l a n t e d a n d b o t h a r c c o m in g u p , b u t t o p o o r
s t a n d s . S m e lit t l e c .t t o n h a s b e e n b e d d e d . N e it h e r c o t t o n n o r c o m
s h o w s a h e a l t h y g r o w t h , p l a n t s b e i n g y e l l o w a n d s i c k ly . M u o h r e
p la n tin g h as b e e n n ecessa r y o w in g to c o o l n ig h ts a n d th e r a v a g e s o f
c u t w o r m s , w h ic h a r o * till d o i n g m u c h d a m a g e . T h e w a t e r i s r e c e d in g
r a p i d l y o v e r t li - o v e r f lo w e d d i s t r i c t s , a n d it is t h o u g h t p l a n t i n g w if i
b e g e n e r a l o v e r th is p o r t i o n o f t h e S t a t e in t e n o r f if t e e n d a y s . H o t
s u m h i n e i o r a f e w d a y s , f o l l o w e e d b y a g e n e r a l w a r m r a in , w o u ld b e
m o s t b e n e f i c i a l t o a ll v e g e t a t i o n .
M i s s o u r i . — in n e a r l y a ll s e o i i o n s o f t h e S t a t e t h e w e e k ju s t c lo s e d ,
h a s i«een m o s t f a v o r a b l e f o r f a r m w o r k o f a n y w e e k th is s e a s o n , a n d
th e tim e h a* b e e n w e ll i m p r o v e d . U p t o S a t u r d a y e v e n i a g th e r a i n f a l l
w a s g e n e r a l l y v e r y l ig h t , a n d o v e r a la r g e p a r t o f t h e S t a t e t h e r e w a s
noue.
L a te r e p o r ts , h o w e v e r , in d io a te th a t s h o w e rs w e re g e n e r a l
o v e r ih e S ta te o n S u u d a y .
O k l a h o m a a n d I n d i a n T e r r i t o r y .— A c l o u d y w e e k , w it h r a in e v e r y
d a y . T u e n ig h t s h a v e b e e n a l m o s t a s w a r m a s t h e d a y s , a u d t h e t e m
p e r a t u r e h a * b e * n j u s t a b o u t r ig h t f o r a l l v e g e t a t i o n , b u t c o n t in u e d
o lo u d in e s s a n d m u c h r a in h a s p r e v e n t e d f a r m w o r k , a n d h a s b e e n d e
c id e d ly u n f a v o r a b l e t o c o t t o n . R e p o r t s f r o m e v e r y s e c t io n s h o w t o o
m u c h ra iu a n d c lo u d s f o r o o t t o n ; m u c h t h a t w a s p l a n t e d d id n o t
c o m e u p , a n d t i n t w h ic h c a m e u p h a s t u r n e d y e l lo w . T h e g e n e r a l
te u o r o f th e m a jo rity o f o u r c o r r e s p o n d e n ts r e p o r ts in d io a te th e b u lk
o f c r o p s w ill h a v e t o b e p l a n t e d o v e r a g a in .
M a y R e p o r t o f t h e A g r i c u l t u r a l B u r e a u ,— U n d e r data
o f M a y 10 th e A g r ic u lt u r a l B u re a u a t W a s h in g t o n issu ed t h e
fo llo w in g r e s p e c t in g c o t t o n :
T h e o o t t o n r e p o r t t o r t h e m o u t h o f M a y , a s c o n s o lid a t e d , b y t h e
S t a t is t ic ia n o f th e D e p a r t m e n t o f A g r i o u l t u r e , r e la t e s t o th e p r o g r e s s
o f c o t t o n p l a n t i n g a n d t h e c o n t e m p la t e d a o r e a g e .
T h e e x t e n t o f t h e p r o p o s e d b r e a d t h a lr e a d y p l a n t e d o n t h e 1 s t d a y o f
M a y w a s 8 1 -9 , a g a in s t 8 7 -9 p e r o e n t l a s t y e a r . T in s f ig u r e Is s e v e r a l
p o i n t s b e l o w t h e a m o u n t u s u a l l y p l a n t e d a t t h is d a t e .
T n e e s t im a t e s f o r t b e s e v e r a l S t a t e s a r e a s f o l l o w s : V i r g i n ia , 3 1 ;
F l o r id a , HO; A la b a m a , 8 5 ; N o r t h C a r o lin a , 7 4 ; S o u t h C a r o lin a , 8 0 ;
G e o r g i a . 8 2 ; M is s is s ip p i, 8 0 ; L o u is ia n a , 8 6 ; T e x a s , 8 8 ; A r k a n s a s , 7 5 ;
T e n n e s s e e , 5 8 ; M is s o u r i, 4 5 .
T h e r e t u r n s o f c o r r e s p o n d e n t s In r e la t i o n t o c o n t e m p la t e d a c r e a g e
a s c o m p a r e d w it h t h e a c r e a g e la s t y e a r , w h io h a r e s i m p ly iu d t o a t lv e
o f c o r r e s p o n d e n t s ' v i e w s a s t o i n t e n t io n s o f p l a n t e r s i n r e s p e c t o f
a r e a t o b e p la n t e d , a r e s u m m a r iz e d a s f o l l o w s :
G e u e r a l a v e r a g e , 10 5 '4 p e r c e n t o f l a s t y e a r ’ s b r e a d t h , a p p o r t i o n e d
t o S t a t e s a s f o l l o w s : N o r t h C a r o lin a , 1 0 8 ; S o u t h C a r o lin a , 1 0 3 ;
G e o r g ia , 1 0 3 ; F lo r id a , 1 0 1 ; A l a b a m a . 1 0 4 ; M is s is s ip p i, 1 0 2 ; L o u is ia n a ,
1 0 2 ; T e x a s , 109 ; A rk a n sa s, 104 ; T e n n e s s e e , 1 0 5 . In th e n o r th e r n
p a r t o f t h e o o t t o n b e l t p l a n t i n g h a s b e e n g r e a t l y r e t a r d e d b y t h e la t a
s e a s o n a n d h e a v y r a in s . T h is is le s s t h e c a s e t o w a r d t h e G u lf , w h ll#
i n T e x a s p l a n t i n g is f a r t h e r a d v a n o e d t h is y e a r t h a n u s u a l.
T h e p r o p o r t io n o f t h e c r o p p la n t e d M a y 1 th is y e a r in
c o m p a r is o n w it h p r e v io u s y e a r s, as g iv e n in th e r e p o r t s of
th e A g r ic u lt u r a l B u r e a u , is as f o llo w s :
P R O P O R T IO N O F C R O P P L A N T E D .
P roportion o f Crop Planted M ay 1.
St a g e s .
1897.
V i r g i n ia ...............
N o r t h C a r o lin a .
S o u th C a r o lin a
G e o r g i a ...............
F l o r id a .................
A la b a m a ..............
M is s i s s ip p i ........
L o u is ia n a ............
T e x a s ....................
A r k a n s a s .............
T e n n e s s e e ...........
M i s s o u r i . . . .........
A v e r a g e ___
31
74
80
82
90
85
80
86
88
75
58
45
81*9
1896.
20
80
90
90
100
93
92
95
85
84
73
879
1895.
1894.
-1 8 9 3 .
1892.
1891.
55
75
79
95
87
84
86
75
79
79
",
45
74
88
86
95
83
83
8L
84
61
65
"
11
85
90
92
92
93
85
87
81
71
76
"
34
70
83
85
83
78
72
83
64
45
40
63
78
80
92
80
77
78
79
76
71
7 8 -5
81*6
853
78*3
7 7 '5
yo
S o u t h e r n C o tt o n M il l s t o C u r t a i l P r o d u c t io n . — A d
v ic e s f r o m C h a rlo tte , N . C ., a re t o th e e ff e c t t h a t o n M a y 15
a m e e tin g o f S o u th e r n c o t t o n m a n u fa c t u r e r s w ill be h e ld in
th a t c it y . I t is e x p e c t e d th a t u p w a r d s o f o n e h u n d r e d m ills
w ill b e r e p r e s s n te d a t t h e m e e t in g , w h ic h h a s b e e n c a lle d f o r
th e p u r p o s e o f c o n s u ltin g as to th e best m e t h o d t o b e e m
p lo y e d t o c u r t a il th e p r o d u c t io n o f g o o d s . I n s o m e q u a r te r s
a g e n e r a l s h u t -d o w n is fa v o r e d , w h ile in o th e r s r u n n in g o n
h a lf-t im e a n d a r e d u c t io n o f w a g e s is b e lie v e d to b e t h e b e s t
c o u r s e to p u r su e .
f'H K
9tt2
Kt-R*->nus Cotton C o *seH m es TO Ma y 1.—W e have
t«c*iv*4
('Friday) by cable Mr, Ellison's figures brought
dsira to Ms; 1, W e h*w *i«> received the revised totals
foe last year an i give them for comparison. The spinners’
«>rwil Britain.
<ieu*tr t la May t.
Total.
Continent.
V a t 1898*97.
5,011,000
2,881,000
2,150,000
fa k ls g * by »pi«ia«r*. ■.6*1 **
4802
482
50!
Avarace weigh! at b»l*a.lt>*
fakir: <» In pound*,.. . . . . . . . . 1,077,150.000 1.379,002,000 2,456 152,000
f o r 18 9 5 -9 6 .
4,605,000
2,535,000
2,070,000
Taking* by * p 'n c« n i., .bale*
488-7
480
499
Average weight •>( halea-tb*.
Takt-g* In p»tm d*.------- ... 1,033,179,000 1,217,171,000 2,250,353,000
A e c o ra in -t i <m w
w w k u s u i v»»c va«* a*
ir? Grt*a Britain h 501 pounds per bale this season, against
m pound* during the same time last season. The Continental
■i Uvi’n.-< average
pounds, against ISO pounds last year,
ami for the - i >le of Europe the deliveries average 490*2
pound* per bale against 4S8‘7 pounds last season.
Our
dispatch »t»o „ i
the full movement for this year and lart
year in halve of 500 pounds..
1896-97.
OU. 1 lo ILiy 1
1
ft,;is. o f 500 15*. each.
Orcat l Conti000* tm M tA .
Britain.' tie in.
[Vol. LXIV.
C H R O N IC L E .
1895-98.
Domestic E xports op Cotton M ascfactures.— W e give
bel >w a statement showing the exports of domestic cotton
manufactures for March and for the nine months ended
Mch, 81, 1897, and for purpose! of comparison like figures for
the corresponding periods of the previous year are also
presented:
puomillM 0/ Manuractwii of Col- Month ending Mch. 8 3 .0 matt. ending M ch. 81
tan (colons! otiii uncolorail
1890-97. 1885-96,
mu.
1887,
exixtrud to—*
United Kingdom.................. yard*
Germany ............................... “
Franco....... ................ ........... “
Other countries In Korop®.... “
British North America . .... . **
Mexico.... ...............
“
Central American States and
British H on du ra s........... **
a t o a v ” " .v v :.v ” '.v:
Santo Domingo-----. . . . . . . . . .
Other West In d ie s............
Argentine R ep u blic...........
BraiU .......................... ........
Dnlted States of Colombia...
Other countries in S. America
C hina...............
Brit. Posses’ns In Australasia
British East Indies.. ..... .. .
Other countries in Asia and
Ooeanloa.. . . . .......
Africa..........................
Other countries........... ......
;;
*
**
“
"
M
‘‘
Total yards of above......
Total values of above.......... .
value per y a r d -......,...........
8jla n er*’ *torft O v tlf f ir ila y ta.
24,
24.9,
277,
210,
Total supply........
Cmaump. Obi-, i wks
273,
256,
517,
324.
790,
5 SO,
320,
256.
762.
316,
1,082
572
Bgkunmtf
Nov. 1
TWfBftfti!' NovamtNsr.
17,
300,
193,
407,
210
707,
64,
298,
4-16,
300.
510,
593,
FaJus* of other Manufactures of
Cotton exported to—
United Kingdom............ ...........
lerman y............ ........ ................
France....... ............... .
Other countries In Europe...... .
British North America... ........
Mexico.... ............... ............ ...
antral American States & Brit
H o n d u ra s...................... .
C uba........................ ............ .
Puerto R ic o ,..,.......... ...............
Santo Domingo....... . . . . . . . . .......
Other West Indies.................
Argentine Republic............. .
Total su pply........
C m ia m p . Nov., 4 wit*.
317,
256.
600,
324.
'917,
539.
362,
256
746.
316
1,103
572
United States o f Colombia......
Other countries in So. America....
Bplnmfm*
|>ee* 1
fa k in g * hi December.
61.
38 i,
276,
513.
337.
894.
100,
344,
430,
417.
536,
761,
Tv'. nl «tk$ipljr. . . . . *
Oaeantsp. ix v ., 5 wk*
442,
320,
789,
405,
1.231,
725,
4*53,
820.
847,
391,
1,297,
715
#
1
ximM
I
Taking* la Ja en ary..
122,
301,
384,
300,
506.
601,
130.
282,
452.
406,
582,
688
Total * «p p ly .......
OBturamp. Jan.. 4 wk*
423.
256.
744,
324,
1,167,
580,
412.
256,
858,
316,
1,270,
5 7 1.
mmm- $dmk Feia. 1
Taking* la February,
167,
279,
420,
417.
567,
696,
156,
270,
542,
359.
693,
6 2 ),
T o !* ! s u p p ly .... . .
Ommamp. Feb.. 4 wk*.
446.
250.
837.
324,
1,233. j 426,
580, | 258,
901.
320
1,327,
576,
Spinner*'*Soek Meb.l
Taking* la ila r r h .......
190,
396,
513,
401,
703,
801,
170,
408,
531.
416.
751,
824
Total *apply.........
OMummp. Mar., 5 *rk*
686,
320.
921,
405,
1.5C7,
725,
676,
320,
999.
400.
1,575,
720.
•planer*’ *took Apr. 1
Taking* la A p r i l ......
268,
248,
616,
413,
732,
061,
| 256,
213,
599,
307,
855,
520,
Entail m ppi$ . . . . . .
Ooa*ump. Apr., 4 wk*.
514.
236.
929,
324,
1,443,
580,
469,
. 256,
908,
320,
1,375,
576,
ffiptumt*' Mock May l
258,
60%
863,
213.
536.
799,
Total.
ContiGreat
Britain. nenl.
301,
489.
67,
253,
535,
227,
Total.
602,
480,
T h o comimrtNtm w it h last y e a r is m a d e m ire s t r ik in g b y
t o ^ i t i e r th e ^ b o v e to ta ls a n d a d d in g th e a v e r a g e
w m k l f c o r n u m p t fo n u p t o th is t im e f o r th e t w o y e t r s ,
|
Oct 1 to May l.
Bale* o f 500 I k . meA,
O0O< omiUad
1896-37.
Ortat
Britain
Conti
nent.
24,
2,154
1895-90.
Total
Croat
Britain
Conti
nent.
Touu.
277.
2,758
301,
4,912.
67.
2.088.
535
2,434
602
1,500,
t«fr »h r............. - ....... 2,178, ! 3,035,
OaaaawpPs.30 w«ak» 1,920
2.430,
5,213.
4,350
2,133,
1,920.
2,999 5,102,
2,333. 4,303,
•ptaoar*' Monk Out. L
Taking* to May 1 ..
•jtaaa**- n ook M*y l |
WmM*r
00* omitted.
1 Ik OcUiuot . . . . . . . . . .
fi
ta l w » a l i * r ..........
ist JmuMkrj
la FUM&rgMwry ********
is M areb................. 1* Af r i t ,................. !
253,
605
863
213.
530,
799,
I
[
64,0
64,0
84,0
e t ,o
64.0
#4,0
#4.0
81,9
81,0
81,0
81.0
81,0
81.0
*1,0
145,0
145.9
145.0
143,0
145,0
145,0
i
!
64.0
04,0
64,0
64,0
04,0
64,0
64,0
79,0
79,0
79,0
79,0
80,0
80,0
30,0
143,0
143.0
143,0
143,0
144,0
144,0
144,0
♦#%#*(
T foregoing Oiou. that the w-.:e*Iy consumption is now
14MQ9 Imlm m *V„jO fXHUld? <>a?h, against U , » biles of like
iwi|§iit§. m% tti§
•ng time last year. Toe total
•pfoiw** gfctdi* :in 0 f >»$t% I ritain and on the Continent have
i S
i JtfNI hxU*i 4 iri i 4 t'»‘’ W3»th. and are now 61,000
In J&s m it# than at tit# m m i date last itea*oo,
1 0
British Australasia...... ..... —
British East Indies. ............ ...
Other countries in Asia and
Oceanian....... .........................
sfrica.......................................
)ther countries...................... .
852.701 1*139.371 0,141,507 6,017,869
1.903,474
26,814 20
6S9.678
00
1.5
,70
13
0 151,956
53
0 40,000 1,3
4
.4
2
4
4
7
8
,H25 1,004,592
108.868 4,08
20,901 24,040,HO4 13.451.SS5
580,268
887,ISO 719,080 3.811,016 4,043,809
1,057.857 997,707 8,337,731 9,023,480
17,920 236.003
11,576
29,057 101.982 B g S
204,127 1,6i4,920 i,8?7,y*a
i-i8, 36B
1,291,019 704,141
10.520.1 18
5.860
82.970 16
2.4-0,10!
87.775 T &
885,625 6
98.84«. 4.9'5,213 0,«:iS,t>BO
425,3i* 2.4
5.S07.8M
0.375,444 21.804,070
2, 168.928 244,788 2
9
1
,750,617 33,562,903
6.404,050 28t«l3
57,935 33,118 601,717 004,701
199,742 114,OuO 2,306,212 2,187,188
145.860 2U i 4.fr
2.224,648
1,595.618 8,513,223 8,470,881
0,150,253
1,660,488 35,05L 0, 112,477
x«
18,975,27» 15,578,30: 221,879,460145,120,821
$9fS,7e7 $923, 48* $ 13,060,3ib * 8,881,685
$*0593 $0571 $-0586
$ 0527
$52,1831
41.189
751
0,609
162.257
82,318
22,064
2,493
309
2,795
5,185
5,871
8,501
3,441
3.8
4
51
«7
17,981
20
25,503
7,780
1,359
Total value of other manufae
tures o f............................. ........J $402,533
$33,894
13,057
1,539
163,686
7.5-30
23,40J
10,4:2
1,519
859
1,4 n
I :f l
4
54
2
2,4
.19
3.547
41,89
5,571
8
10.71?
3.478
2,027
339,029
140.385
0,*53
89,352
983,001
205,292
13
87
2,0
,47
354
4,061
2
33
63
0,8
i8oO
52,25?
55,948
38,840
42
8,2
34
11
2
131*067
3,310
28
14.1
.11
44
8
•7
8,128
$
142,204
$340,014 $2,757,563 $2,877,230
1401,320 $1.204,098 $15,423 8731$ 11,558,774
Aggregate value of all cotton goodsl $ ,
S h i p p i n g N e w s .— The exports of cotton from the United
States the past week, as per latest m a il returns, have reached
92,688 bales. So far as the Southern ports are concerned these
are the same exports reported by telegraph and published in
the C h r o n i c l e last Friday. W ith regard to New York we
include the manifests of all vessels cleared up to Thursday
Total Bales.
Ne w Y o rk —T o Liverpool, per steamers B ovic, 1,536 upland
and 22 Sea W a n d ___Servia, 2 ,9 2 2 ......................................... 4,490
To Hull, per steamers Colorado, 1 ,3 1 9
Martsllo, 9 5 2 ... . 2,301
200
To London, per steamer Idaho, 200 ............ ............................
I'o Manchester, per steam tr Hogarth, 535 upland aud 14
599
Sea Inland................................ ......................................................
To Havre, p-*r steam eis La fouralue, 70 upland aud 58 Sea
Island ...U lrtken, 1,9,»2 .......... ...................................... . . .
2,120
255
To Bremen, per steamer Havel, 25 5........................... — . . . .
1,099
To Hamburg, per steamers Andalusia, 5 9 9 __Ohatttitd, 500
000
To Anewurp, per steamer Noordlaild, 600 ...............................
To Genoa, tier steamers Betty, 2 ,9 0 ) ___Hesperia, 1,983 . . .
6,216
Kaiser ................................
Wilhelm U , 1,368.
__
304
To Naples, per steamer Kaiser W ilhelm II., 3 0 4 ....... ..
300
To Trieste, per steamer B etty, 300.
_____
5,101
N e w O rleans —To Liverpool, p e r s t e a m e r Electrician, 5 ,1 0 1
1.026
T o Belfast, p er steamer Helen, 1,0 26........................... ...........
To Havre, per steamer Ben wiok, 7,032 ........................ ........... 7,032
To B re men, per steamer Milwaukee, 2 1 ,1 5 4 ............................. 21,154
To Hamburg, per steamer Oswestry, 2 ,7 4 1 ...
2’t t h
To Rotterda m per steamer Alexandra, 2 0 0 _________ _
1,850
To A ntwerp, per steamer Cuyo Romano, 1,950............
100
To Copenhagen, per steamer A lexandra, 100.................
To Genoa, per steamer Istria,
■ 2■,9 1■2 ____
■ ______
2,912
To Trieste, per steamer Istria, 2 ,1 0 0 ............................ .......... 2,100
To Venice, per steamer Istrta, 1,300.......... ........ ................ .
1,300
Galveston —To Liverpool, per steam.-r Da ien, 6 ,9 3 8 ................. 6,938
To Bremen, per steamer Roland. 6,1 59...................................
6,159
C harleston —To Barcelona, per steamer SlolUa, 4 .8 7 8 .............. 4,878
P o s t R o t a l - T o Liverpool, per steamer Eden Hall, 5 ,2 5 9 .......
5,259
N IKF.1LK-To Rotterdam, per steamer W hetstone, 1,3 81........... "1,331
B oston —To Liverpool, per steamers Oambroman, 50 Sea Island
Ottoman, 268 upland and 153 8ea Island...............................
471
To HnU, per steamer L epanto, 400.................................... ........
400
To Yarmouth, per steamer Yarm outh, 1 3 8 .............. ..............
138
Baltim o re —To Liverpool, per steamer Ikbal, 5 5 0 .......................
556
T o Bremen, per steamer Mu lOlien. 2,209..................................
2,209
T o Hamburg, p er steamer Armenia, 101.
101
P h il a d e l p h ia —To L iverpool, per steamer Belganland, 8 . . . .
8
BAN F baxcisco —To Japan, per steamer City o f Peking, 1 5 0 ...
150
T o t a l....... .............„ . . . . ....................... . . . . . . ..........„ .................... 92.663
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates:
N ew O rleans —T o L iverp ool—M ay 10—Steamer W illiam Clilf, 4,2 21.
...,M a v 1 4 —Steamer Astronom er, 4,400.
To H avre-M ay 1 1 —Steamer Highland Prince, 1,286.
To Hamburg -M ty 7—Steamer Hlspaula, 3.555.
To A ntw erp—May 11—Steam w H ighland Prinoe, 2,251.
To Barcelona—May 10—Steamer Miguel M. Pinillos, 1.250.
T o Corunna —M *y lO —Steamer M guel M. Pinillos. 500.
To G enoa—May 10—Steamer Miguel M. Pinillos, 650.
Mo b il e —T o Liverpool —May 8 —steam er Datmatly, 4,510.
To Bremen—May 1 4 -8 t « » m « r Varnx 6,952.
P ensacola - T
o
L iverp ool-M ay
12—Steamer Tivtna, 2, 983.
THE
May 15, 1897,]
C H R O N IC L E .
3 a .v a n n .l h — T o B r e m e n — M a y 1 3 — S t e a m e r O s b o r n e , 6 ,6 4 3 .
l o B a r c e l o n a —M a y 1 1 —S t e a m e r E lt o n , 4 ,o 3 0 .
T o G e n o a — M a y 1 1 — 8 t e a m e r E i t o n , 1 ,1 7 5 .
N o r f o l k — l o H a m b u r g —M a y 7 —S t e a m e r A b a n a , 5 9 5 ........ M a y 1 2 S t e a m e r i L c b l s l a , 1 ,7 3 2 .
B o s t o n —T o L i v e r p o o l —M a y 7 —S t e a m e r P a v o n ia , 1 2 7 . . . . . M a y 1 0 S t e a m e r S a o b e m , 31 .
T o Y a r m o u t h —M a y 7 —8fceam er Y a r m o u t h , 1 6 0 .
B a l t i m o r e —T o L i v e r p o o l — M a y 4 — S t e a m e r T e m p le m o r e , 1 ,0 1 9
T o H a m b u r g —M a y 1 0 — S t e a m e r 8 c o t ia , 5 0 .
P h i l a d e l p h i a T o L i v e r p o o l —M a y 7 —S t e a m e r W a e s la n d , 2 1 6 .
B e a t t l e - T o J a p a n — M a y 1 0 — S tea m er M a ts u y a m a M aru , 3 0 0 .
C o t t o n fr e i g h t s a t N e w
a s f o llo w s .
8 a tu r.
t i v e r p o o l .a e k e d . d.
Do
.............. d.
F ri
T h u rs.
M on.
T u es.
15t
151
15t
15t
lo t
30t
301*
301
301
301
15t
H a v r e .......................c.
30'
D o ...................... c.
B r e m e n . .............. d . 2 5 - 2 7 V
Do
................ d.
H a m b u r g .............. d.
25’
___
Do
............. d .
A m s t e r d a m .......... c.
251
25128
B e v a l, v . H a m b ..d .
Do
v. H u l l . . . # .
36t
B a r c e l o n a ............. d.
24 i
G e n o a .................... d.
28t
T r i e s t e .................... d .
A n t w e r p ................ d.
*8
G h e n t , v . A n t w ’ p .d .
533
1 G e n ts n e t p e r 1 0 0 lb s .
Y o r k th e past w e e k h a v e b een
W ed n e s .
25-27>*1 2 5 -2 7 % * 2 5 - 2 7 % f 2 5 - 2 7 ^ 1 2 5 - 2 7 % i
25t
....
25*
25*
____
251
....
25*
251
2512S
36*
....
25128
3flt
**18a
361
....
251
....
251
2 o158
24t
•••»
24t
281
28t
24t
2St
%
%
%
25t
....
25t
25128
361
36t
___
241
24t
28t
281
533
532
"32
“ 32
s 33
* A n d 5 p e r ce n t.
L i v e r p o o l . — B y c a b le f r o m L i v e r p o o l w e h a v e t h e f o l l o w m g
s t a t e m e n t o f t h e w e e k ’s s a le s , s t o c k s . & o ., a t t h a t p o r t .
A p r. 23. I A p r. 30.
M ay 7
M ay 14
4 4 .0 0 0
3 4 ,0 0 0 ;
7 3 .0 0 0
5 0 .0 0 0
S a le s o f t h e w e e k .............b a l e s . I
1 ,4 0 0
1 ,5 0 0
2.000
2 ,3 0 0
O f w h ic h e x p o r t e r s t o o k ___
1 ,4 0 0
1,000
O f w h io h s p e c u l a t o r s t o o k . . |
2001
400
3 2 .0 0 0
4 4 .0 0 0
4 1 .0 0 0
S a le s A m e r i c a n ............................... )
6 4 .0 0 0
8,000
5 ,0 0 0
A c t u a l e x p o r t ...................................| I
7,000|
6,000
55,OOU|
6 7 .0 0 0
F o r w a r d e d ....................................
7 0 ,0 0 0 ,
5 5 .0 0 0
T o t a l s t o c k — E s t i m a t e d .............1 ,2 5 4 ,0 0 0 1 ,2 0 6 ,0 0 0 1 1 , 1 7 6 .0 0 0 1 ,1 4 7 ,0 0 0
9 9 8 ,0 0 0
O f w h ic h A m e r i c a n —E s t i m ’ d 1, 100,000 1 ,0 5 7 ,0 0 0 | 1, 0 2 6 .0 0 0
3 1 .0 0 0
5 7.0001
2 9 .0 0 0
4 5 .0 0 0
T o t a l i m p o r t o f t h e w e e k ..........
2 3 .0 0 0
3 2 .0 0 0
3 9 .0 0 0
O f w h i c h A m e r i c a n ..................
1 8 .0 0 0
9 3 .0 0 0
9 1 .0 0 0
6 9 ,0 0 0 ,
A m o u n t a f l o a t .................................
9S000,
8 5 .0 0 0
5 8 .0 0 0 1
O f w h ic h A m e r i c a n ..................
8 5 ,0 0 0 !
8 5 .0 0 0
The t o n e o f t h e L iv e r p o o l m a r k e t f o r s p o t s a n d fu tu r e s ea« h
d a y o f t h e w e e k e n d in g M a y U a n d t h e d a i l y c lo s in g p r ic e s
o f 8p o t c o t t o n , h a v e b e e n a s fo l l o w s .
8p o t.
Frxdcy
Saturday Monday. Tuesday. Wed’day. T h u r s d ’ y .
M ark et, I
1 : 4 5 P. M. {
D ull but
steady.
M ifL U p l’ d s .
* 732
S pec. A ex p .
6 ,0 0 0
300
M oderate
dem aud.
Easier.
Q alet,
M oderate M oderate
dem and.
dem and.
4 3ie
453,
8 ,0 0 0
500
7 ,0 0 0
500
Q uiet at
1-64 ad
van ce.
Q uiet at
partially
1-64 d ec.
4 7s o
i%
8 ,0 0 0
500
8 ,0 0 0
500
8 ,0 0 0
500
Futures.
teady at Steady a t Q uiet at S teady at
M a rk et, \ S
1-64 ($2-64 1-04 (* 2-04 1-64 ut 2-64 1-64 a d
1 : 4 5 p . M .J adva nce. adva nce.
d eclin e.
va n ce .
M a rk et,
4 P. M.
\
{
Steady.
Q uiet.
Q uiet.
Easy.
Q uiet but
steady.
Steady.
T h e p r ic e s o f fu t u r e s a t L iv e r p o o l f o r e a c h d a y a re g i v e n
b e lo w .
P r ic e s a r e o n th e b a sis o f U p la n d s , L o w M id d lin g
c la u s e , u n le s s o t h e r w is e s ta te d .
i y The prices are given in pence and 6 4 th.
T h u s : 3 6 3 means
3 6 3 - 6 4 d.. and 4 0 1 means 4 l - 6 4 d .
M a y 8 to
M a y 14.
S a tu r.
12i*
1
W ed.
F r i.
T h u rs.
4
4
1 :4 5 1 4
1:451 4
4
1 :4 5
1 :4 5
P. M. P. M. P.M. P.M . P. M. P.M . P. M. P.M. P.M. P.M . P.M . P.M.
d.
M ay.............
May-June..
June-July..
July.-Aug..
Aug.-Sept..
Sept.-Oct...
O ot.-N or...
Nov.-Dee...
Deo.-Jan...
Jan.-Feb...
Feb.-Mch...
Mch.-April.
T u e*.
M on.
4
4
4
4
4
3
3
3
3
3
3
10
09
08
07
04
59
53
51
49
49
50
1 :4 5
d.
4
4
4
4
4
3
3
3
3
3
3
11
10
09
08
04
60
54
51
50
50
50
d
4
4
4
4
4
3
3
3
3
3
3
12
11
10
09
08
62
55
53
52
52
52
4
4
4
4
4
3
3
3
3
3
3
d.
11
10
09
08
04
62
54
52
50
50
50
d.
4
4
4
4
4
3
3
3
3
3
3
09
08
07
06
02
58
51
49
48
48
48
d.
d.
4
4
4
4
4
3
3
3
3
3
3
09
08
07
06
02
58
51
49
48
48
48
4
4
4
4
4
3
3
3
3
3
3
09%
08 4
07|4
0 6 )4
0 3 '4
5 8 ,3
5 2 )3
49 3
4 8 ,3
4813
19 3
d.
07
06
05
04
01
57
50
48
47
47
48
d.
107
4 06
4 05
4 04
4 01
3 57
3 51
3 49
3 47
3 47
3 48
4
4
4
4
4
3
3
3
3
3
3
d.
07
06
05
04
01
58
52
50
48
48
49
05
04
03
02
63
56
50
48
47
47
48
v a n c e , la r g e ly o n a d e m a n d f r o m s h o rts to c o v e r c o n t r a c t s ,
s tim u la te d b y a n a c t iv e e x p o r t d e m a n d a n d c o n t in u e d h e a v y
e x p o r t c le a r a n c e s . U n fa v o r a b le c r o p a d v ic e s fr o m th e P a c ific
C oa st h a v e a lso h a d a s t r e n g th e n in g in flu e n c e u p o n v a lu e s .
T h e c lo s e s h o w e d p r ic e s f o r t h e n e a r -b y d e liv e r ie s 2 l £ @ 4 } £ c .
h ig h e r a n d f o r th e d is ta n t
u p f o r th e w e e k . S a t u r
d a y th e r e w a s a fir m e r m a r k e t.
C r o p a d v ic e s w e r e u n
fa v o r a b le , b o t h f r o m
th e W e s t a n d a b ro a d ,
a n d th e
c lo s e w a s a t a n a d v a n c e o f 13^@ 2J^c.
M on d ay crop
a d v ic e s c o n t in u e d u n fa v o r a b le , a n d th is, t o g e t h e r w ith
s t r o n g e r fo r e ig n a d v ic e s , r e su lte d in
an
advance
of
ys @ y 8c . T u e s d a y th e m a r k e t d r a g g e d e a r ly in th e d a y .
s u b s e q u e n tly , h o w e v e r , o n r e p o r ts o f a n a c t iv e e x p o r t
b u sin ess a n d u n fa v o r a b le c r o p a c c o u n ts , p r ic e s a d v a n c e d
a n d c lo s e d fir m
h ig h e r f o r th e d a y .
W edn es
d a y a n d T h u r s d a y th e r e c o n t in u e d a n a c t iv e e x p o r t d e m a n d ,
a n d as c r o p a d v ic e s b o th f r o m th e W e s t a n d a b r o a d w e r e
u n fa v o r a b le , p ric e s fu r t h e r a d v a n c e d J?£@ 2}£c. T o -d a y th e
m a r k e t tu r n e d ea sier, as th e r e w a s a fa llin g o t f in th e e x p o r t
d e m a n d , fo r e ig n a d v ic e s tu r n e d w e a k e r , an d c r o p n e w s w a s
m o r e fa v o r a b le . T h e r e h a s b een a la r g e bu sin ess tra n s a c te d
f o r e x p o r t , th e sales r e p o r t e d h ere a n d a t o u t p o r t s a m o u n t in g
to n e a r ly 1,500,000 b u sh els. T o -d a y th e m a r k e t w a s q u ie t a n d
ea sier, c lo s in g w it h N o . 1 h a rd D u lu th a t 86c. f . o . b. a f l o a t ;
N o . 1 M a n ito b a a t 85l4'c. f . o . b . a f l o a t ; N o . 1 N o r th e r n
D u lu th a t 85J^c. f . o. b. a f l o a t ; N o. 1 N o r th e rn N e w Y o r k a t
8 4 t£ c. f , o . b. a flo a t, a n d N o . 2 h a rd w in t e r a t 8 2 c . f. o . b.
a flo a t.
D AILY CLOSING PBIOBS OP NO. 2 BHD W INTEB W H S AT.
Sat.
M a y d e l iv e r y ............. . . . . 0 . 7 9 %
J u l y d e l i v e r y ..............
S e p t e m b e r d e l iv e r y . . .. C . 7 4 %
D e ce m b e r d e liv e r y .. ...0 . 7 6 %
Mon.
Tuet.
Wed.
TKura
Fri.
80%
78%
75
763 a
81%
79*8
7 51 *
76%
82
7914
753 s
76%
83%
80%
75%
77%
8230
79
71%
75%
T h e r e h a s b e e n s lig h t ly in c r e a s e d a c t i v i t y to th e t r a d in g
in th e m a r k e t f o r I n d ia n c o r n fu tu r e s a n d p r ic e s h a v e a d
v a n c e d ^ @ 10 . f o r th e w e e k , o n b u y in g b y s h o rts to c o v e r c o n
tra cts, s t im u la t e d b y a m o r e a c t iv e e x p o r t bu sin ess a n d in
s y m p a th y w it h th e r ise in w h e a t v a lu e s . T o -d a y th e m a r k e t
w as q u ie t a n d p r ic e s eased o f f a fr a c t io n u n d e r r e a liz in g
sales, p r o m p te d b v a s u b s id e n c e o f th e e x p o r t d e u ia n d . B u s i
ness in th e s p o t m a r k e t h a s b e e n a c t iv e , as sh ip p ers h a v e b een
b u y ers, th e ir p u r ch a s e s a m o u n t in g to 650,000 b u sh els. T o
d a y th e m a r k e t w a s q u ie t a n d easier. T h e sales in c lu d e d N o .
2 m ix e d a t 30>£c. in e le v a t o r a n d 31
f . o . b . a flo a t.
D A ILY CLOSING PBIOBS OP NO. 2 M IXED (JOHN.
M a y d e l i v e r y ____________ 0.
J u l y d e l i v e r y ........................ e.
A u g u s t d e l i v e r y . _____ o .
S e p t e m b e r d e l i v e r y _____o .
Sat.
M on.
29 %
30%
31
31%
29 %
30%
31
31%
Tuei.
30
30%
31%
31%
Wed.
Thurt,
30
30%
_____
32
30%
31%
31%
32%
Fri.
30%
30%
....
32
O ats f o r fu tu r e d e liv e r y h a v e b e e n q u ie t, b u t fr a c t io n a l ad *
v a n c e s h a v e b e e n m a d e in p r ic e s o n b u y in g b y a f e w s h o rts
to c o v e r c o n t r a c t s , s t im u la t e d b y th e rise iu o t h e r g r a in s a n d
o n an in c r e a s e d e x p o r t d e m a n d . T o -d a y th e m a r k e t w a s d u ll
a n d easier. In th e sp o t m a r k e t bu sin ess h a s b e e n a c t iv e , as
b o th sh ip p e rs a n d th e h o m e tra d e h a v e b e e n b u y in g a n d p ric e s
h a v e a d v a n c e d . T h e e x p o r t sa les f o r th e w e e k a m o u n t to
a b o u t 500,000 b u sh els. To-ctay th e m a r k e t w a s q u ie t b u t
s te a d v . T h e sales in c lu d e d N o . 2 m ix e d a t 23J^c. in e le v a t o r
a n d N o . 2 w h it e a t 2 7 c. i n e le v a t o r .
D A ILY CLOSING PBIOBS OP NO. 2 M IXED OATS.
Sat.
Mon.
Xnet.
22%
22%
22%
22%
M ay d e l i v e r y ........................ o. 2 2 %
J u ly d e l i v e r y ....................... o . 2 2 %
Wed. Thurs.
22%
22%
23
Fri.
22%
22%
23
R y e has b e e n q u ie t b u t s t e a d y . B a r le y has b e e n in fa ir e x
p o r t d e m a n d a n d fir m .
T h e fo llo w in g a re c lo s in g q u o ta tio n s :
FLOUR.
P i n e . —. ..............V b b l . * 2 1 5 « 2 8 5 P a t e n t , w i n t e r . . . . . . . $ 4 6 0 3 4 8 5
S u p e r f i n e .. . . . . . . . ___ 2 5 0 a 3 2 0 C i t y m i l l s e x t r a s ........ 4 9 0 a 5 0 0
■ x t r a . N o . 2 .................. 2 8 5 a 3 3 5 B y e f lo u r , s u p e r f i n e .. 2 2 5 a 2 7 5
....
E x t r a , N o . 1 ................... 3 15 a 3 8 0 B u o k w h e a t f l o u r ......................a
C l e a r s . . . .................... ..
3 4 5 a 4 15 C o r n m e a l —
W e s t e r n <feo............ . 1 7 0 a 1 7 5
S t r a i g h t s ........................ 4 1 0 3 4 2 5
B r a n d y w i n e ...............
1 80
P a t e n t , s p r i n g ............
4 2 0 a 4 45
[ W h e a t f lo u r I n s a o k s s e l ls a t p r l o e s b e l o w t h o s e f o r b a r r e l s . ]
d.
d.
4
4
4
4
3
3
3
3
3
3
3
963
4
4
4
4
4
3
3
3
3
3
3
06
05
04
03
00
57
52
50
48
48
49
BREADSTUFFS.
F h i d a y , M a y 14, 1897.
T h e r e h a s b e e n a s t r o n g e r t o n e to th e m a r k e t fo r w h e a t
f l o u r , r e f l e c t i n g t h e a d v a n c e i n w h e a t v a lu e s .
S e lle rs h a v e
a d v a n c e d th e p r ic e s , b u t as b u y e r s h a v e h e ld m o d e r a te s u p
p lie s t h e y h a v e b e e n s lo w t o m a k e a d d itio n a l p u ro h a s e s a t th e
n ig h e r c o s t ; c o n s e q u e n t ly o n l y a lim it e d v o lu m e o f b u sin ess
h a s b e e n tra n s a c te d . A t th e c lo s e , o w i n g t o a r e a c tio n in th e
w h e a t m a r k e t, th e re w a s a s lig h t ly easier m a r k e t fo r w h e a t
flo u r . R y e flo u r h a s c o n t in u e d to h a v e a m o d e r a te sa le , a n d
p r ic e s h a v e b e e n u n c h a n g e d a n d s te a d y , C o r n m e a l has a ls o
c o n t in u e d m o d e r a t e ly a c t iv e , a n d th e b u sin ess tra n sa cte d has
b e e n a t s te a d y p rice s.
T h e s p e c u la tiv e d e a lin g s in th e m a r k e t f o r w h e a t fu tu r e s
h a v e b<:en m o r e a c t iv e a n d p r ic e s h a v e s c o r e d a m o d e r a te a d
0.
0.
W h ea tS p r in g , p e r b u s h ..
B e d w in t e r N o . 2 . .
B ed w i n t e r . . . . . . . .
N orth orn , N o. 1 ...
O a ts — M ix e d , p e r b u .
W h i t e ...........................
N o. 2 m i x e d .. .. . ..
V o . 2 w h i t e ...........
81 a
87
N o m in a l.
82 a
89
84% a
85%
21 a
25
25 a
32
2 3 % a 24%
27 a
28
A g r ic u l t u r a l
D epartm ent
C orn , p e r b u sh —
W e st’n m i x e d .. .. . .
N o . 2 m i x e d .............
W estern y e l l o w ...
W e s t e r n W h i t e ____
B yeW estern , p e r b u sh .
S ta te a n d J e r s e y ..
B a r l e y — W e s t e r n ____
F e e d i n g ___ . . . . . . . .
R eport
on
o.
29% a
30% a
30 a
30 a
o.
32%
31%
33
33
38
3
42
39
a
42
44
a
46
28% a
32
C e r e a l s , & c .—
T h e r e p o r t o f th e D e p a r tm e n t o f A g r ic u lt u r e s h o w in g th e
c o n d it io n o f th e c e r e a l c r o p s o n M a y 1 w a s issu ed o n th e 10th
in e t., a n d is as fo llo w s :
T h e M a y r e t u r n s o t t h e D e p a r t m e n t o f A g r l o u l t u r e e n o w a d e o l in e
f r o m t h e A p r i l c o n d i t io n o f 1-2 p o in t s ; 8 0 -2 , a g a i n s t 8 1 - 4 l a s t m o n t h ,
a n d 8 2 -7 M a y 1 , 1 8 9 6 . T h e a v e r a g e s o f t h e p r l n o lp a l w in t e r - w h e a t
S t a t e s a r e : O h io , 8 2 ; M ic h ig a n , 8 1 ; I n d ia n a , 6 1 ; I l l i n o i s , 3 7 ; M is s o u r i,
5 4 ; K a n s a s , 7 8 ; C a li f o r n ia , 9 7 ; P e n n s y lv a n ia , 9 6 .
The a v e r a g e s iu
th e S o u t h e r n S ta te s a r e h ig h , r a n g i n g f r o m 8 5 iu M is s is s ip p i t o 9 8 in
T e x a s , a n d in t h e m in o r S t a t e s , N e w J e r s e v , D e la w a r e , M a r y la n d a n d
V ir g in ia , f r o m 9 8 in N e w J e r s e y t o 1 0 2 i n M a r y la n d . A s r e p o r t e d in
A p r i l , t h e w o r s t in ju r ie s f r o m f r e e z i n g a n d d e f lo ie n t s n o w a r e iu I l l
in o is , t h o u g h t h e b o r d e r i n g S t a t e s . I n d ia n a . W is c o n s in , I o w a a n d M is -,
s o u r l, r e p o r t s e v e r e w in t e r i n ju r y , a n d S t a t e s b o r d e r i n g t h e s e , O h i o , !
M io h ig a n , N e b r a s k a a n d K a n s a s s h o w r e d u c e d c o n d i t i o n fig u r e s . O v e r
t h e o o u n t r v e l s e w h e r e th e c o n d i t io n is u n u s u a l ly g o o d , b e i n g p r a c
t ic a l l y n o r m a l e a s t o f t h e A l i e g h a n l e s a n d q u i t e h ig h a ls o o n th e
P a o lf lc B lope.
W in t e r r y e h a s l o s t n e a r l y o n e p o i n t s i n c e la s t m o u t h , i t s a v e r a g e f o r
M a y b e i n g 8 8 p e r o e n t , a g a in s t 8 8 -9 f o r th e s a m e d a t e l u A p r il. T h e
p e r c e n t a g e o f N e w Y o r k Is 9 7 ; P e n n s y lv a n ia , 9 3 ; M io h ig a n , 9 0 ; 111-
THE
9U4
... ,
* , 71: ItlBS<'*•!». Ms Iow a, 8S; K an sas,90; So-
j™ ; ', 3*'-* winter hartry U 99 4 V t t M a t, » « # » « 8 0 - 3
, . V „ ...... ..
u " , is.*"', the m w «* i eonditletti »** la Indiana, lll...... i tin, w ,« h « ! la O fveon. C .tilforat» and Iow a,
, ,« .is ( HO, or 9 fail crop condition.
__ _
” r ,
... . ■ i!.,n
spring pMtttrv 1* 93'A, against 93-3 a year
, , ... „ • r.,- iu » . 9 H , agatiMt 91 S in 1806, « » » WfctSprilW
{ ’
r»t
ptn ieularly la Oh region* o f ilottoloM r*iu■ ,
t
i>!n« lag tifcUUod May 1 Is 6 1 9 .
Usual
?*. o s ) ; the ••t ironic S o n lio ra wul Houthoro
........ . twins
•? :»totn*ry proportion. Everywhere MM d «'n j' 76*
frsjm i-l« -' aSc »*■«£•» se.a liiMjyy Wlon,
K:• - • ■ tjwas
or* generally favorable M to the condition o f
■•., •
•, . :
- !
tor • it null the
!» u p o i , ! to f i l l abort o f last year's at i**#t 18.000.000 bushels
IE .l»T; of pr«*<ii the senate -owing* have ti««B retarded by rain. The
Vlr^r-ov
I s .Ha n*.rgrapb» tbs* U » N w ill M M wheat for export,
tr.-ts ( b t l c-.m try this year.
o o m m o * o r W a m ta w h eat .
1893.
1000.
im +
JprU. -Mar. April. Mag. Jun*. April. May. Jwn«.
---- --
3
S
■ *»»•
*0
eo
so
S3
m
s*
t tH M t .----- --------**»*•]
m
si
S7
m
17
m
75
54
T8
81
55
M
70
85
87
m
85
73
9S
98
71
70
8#
ei
[V ol, LXIY,
C H R O N IC L E ,
86 85 70
83 87 56
87 90 £2
89 90 70
53 48 39
7S
78 T7
94 97 102
102 99
m
92 65 93
92 93 96
90 83
81
89 93 SB
89 95 96
67 55 66
81*4 82*9 71*1
b la n k e t s firm, with small sales. Dress goods quiet through
o u t , b u t to n e good,
d o m e s t ic C o t t o n G o o d s —The exports of cotton goods
from this port for the week ending May 10 were 8,535
packages, valued at $205,204, their destination being to the
points specified in the tables below:
1897.
1800.
Week. Sinc e Ja w. 1.
TPm *. Since Jan. 1.
N e w Y o r k to Ma y 10.
Great Britain..........................
Other E arop ean.....................
O h ln a .................................... ...
India___ . . . . . . . . . . . . . . . . . . . . .
Arabia,......................
A fr ic a ................................
West I n d i e s . . . . . . . . . . . . . .
M ex ico ..................... ...............
ueutral A m erica....................
South A m erica......................
Otaer C o u n t r ie s ...............
74.
48
1,181
925
1,310
7
300
75
288
2,224
125
1.880
1,472
34,750
2,143
9,365
5,921
5,844
1,104
2,700
21,186
1,720
355
373
31
309
1.741
78
851
1,234
81,323
2,450
5,57 4
5.827
4,810
1,11)2
3,254
17,799
1,248
T ota l..................................
China, v ia V a n oou v er-...
6,535
500
88,085
9,250
3,080
400
75,472
13,707
T o t a l................................
7,035
97,335
3,480
89,179
65
2
120
• f r o m N « w E n g la n d m i l l p o l n t B d l r e o t
The value of the New York exports for the year to date hasbeen $3,539,805 in 1897 against $8,472,022 in 1890,
Sales of brown goods have been on a moderate scale to the
97
home trade, and export business has been quiet. Sheetings
05
and drills are steady, but sellers are not difficult
deal with
00 m
at prevailing prices. Coarse colored cottons are slow of sale,
m
m
but
buyers
pay
previous
prices
for
such
goods
as
they
require.
n
m
In bleached cottons the market is inactive, and sellers,
Mmrtim&d**** ♦«,*„***♦.,, ICQ i m
outside of a few leading makes, are very easy to deal with.
to
m
TWfrtma-.
.....
In those leading tickets prices of which were advanced a few
gg
m
H u b .................... &**•<
weeks ago buyers are doing very little. Business in wide
*1-3
Ar'w® wlwki# ©oantry..
sheetings, cotton flannGs and blankets, quills and white goods
Expor ts of
B r e a d s t c f f s , P r o v i s i o n s , C o t t o n a n d is on a limited scale. Kid-finished cambrics steady but dull.
P r r » ' > u :r a . — T h e e x p o r t s o f thes-> a r t i c l e s d u r i n g t h e m o n th Sales of printed fabrics have been moderate without new fea
o f A p r il, a n d t h e te n m o n t h s , f o r t h e p a s t t h r e e y e a r s ture, Ginghams inactive throughout. Print cloths have been
h a v e oeet) a s f o l l o w s :
firm at Fall River at 2 7-16c. for extras, but no sales. Odd
goods in quiet request.
Kim**- •r
w m m m .««**,
Cfcftforal**.•**** -•-*” «**
*.*■******•.*«*.-***. •
1895^ 6.
10Month*
189SJ97.
, r,
m m c .a .
April.
1© Monzh*.
w m » t . - -M .
0a n ...fcu fc.
4
Te .sa<k .
vm m *
W i torn*.
OornA ®*M..
...... ..
Osi> A * « » :
fcurisr.......
O atua, .. . . .
AprU.
1897.
10 Mont/*#.
94f ,687 19,807,85! 6,282,125 81.135,ITS
1I.801.SS* 1066,814 12.531,247 1,212,651 12,467,816
iitrr** a» 127,411,170 7,«W7,twj 100, 1^.2 1 10,719,054121,340,785
7.296,038 S3,910,705 8,863,135 18,270,331
279,464^7 14. m 88S j i m 03.969 14,582.189 188,811,119
•
»
1
i
10
1894-95.
Apr-L
t.
,
i .iir .o v r
flM J M
W
96
90
100
100
85
u
83 93 84
SI
77 SO
61 71 eg
96 93 80
82*7 77*9
tn
8»
tt
91
m
m
u
t
*
77.079,516 7,304,705 58,800,623
2,681,043 82, 414,795 2.024,858 9,081,815
191.634 AMHJ&0 31,919 189,780
18
5,f 97
#f 4r^*S 7.876.319
P23,016 2,353,780
00,243 604,773
0,458,794 371,402 8.311,156 8f , 51.« 714,751
lim .u M lS4. 745. 0y7 9,544,43' 114,348,977 9,476,344 90, 109,959
:
: m j u . m lt.ASv.il2 l.IVSi.rKJS 12,236,342130.050,300
n$M % m
16,084.610189.281,185
50,715,640 4,77.1.256) 50.337,000 1,742,000 30,297.822
564.l 87. 4td 4U t t . 73ol474.9l 7.S30 42.489.200451,745,275
&£m,m
T@1. r t t a * ■
* I sm?13 ttKjge&Uis *»4
Ml fflOBti* M 4 rears.
S o r e .- A l l til* above figure* are based on the m onthly preliminary
refetra*
ny tile Bureau o f Su:U r.ic», and c o v e r about 93 per cent
of ib n to lal exports.
n r P . r a ifc .r t a b l e . uaauItT g iv e n h e r e are p a g e 0 3 S .
THE DRY GOODS TRADE.
N e w Y o r k , F r i d a y . P . M .. M a y 14, 1897.
T h e m a rk e t baa r u le d q u ie t t h r o u g h o u t th e w e e k a t b o th
-:r«t a c t
m l h a n d s,
t h e w e a th e r h a s -n o t e o fa r been
lav ,it.*i,i- to th<* d is tr ib u tio n b y re ta ile r s o f lig h t fa b r ic s , a n d
the re tu rn d e m a n d fo r th ese h u b e e n s lo w , w h ile b u y e rs
h ave ,h o w o n o g r e a te r interest, th a n b e fo r e in th e g e n e r a l
ru n o f stap le c o t t o n g o o d * . T h e m a r k e t f o r c o t t o n g o o d s
c a n n o t t*» re p o rte d e a sie r th a n b e fo r e , f o r selle rs h a v e r e a c h e d
the p o in t w h e re t h e y r e fr a in f r o m p re s sin g s t o c k s fo r sale
o w i o * : o the p r e v a ilin g l o w r a n g e o f p r i w i an d th e a b se n c e
;,f a n y p ro fit o n th e g e n e ra l ru n o f tra n sa ct io n s . T h e r e is
u n d er these c o n d itio n s a fe e lin g th a t m a n u fa c t u r e r s w ill
gain b e co m i-d to * ! to r e s o r t to a lib e r a l c u r ta ilm e n t o f p ro; « i . > r , and th is to e n c o u r a g e d b y th e fa ct th a t a m e e t in g o f
S o u th e rn m a n u fa c tu r e rs is t o b e h e ld a t C h a rlo tte , S . 0 . ,
t o m o r r o w to c o n s id e r th e q u e s tio n o f a c o n c e r t e d s h o r t-tim e
a a o v r . - n t . B o y r r s are n o t d istu rb e d b y th is, an d w ith fe w
erew pthm s p V »l a lo n g a t te n d in g t o r e q u ir e m e n t s as th e y
»«*•- . T h e m a r k e t f o r w o o le n g o o d s ha# been w it h o u t sp e cia l
f» s t o r e , a q u ie t b a d n e s s p a ssin g w it h a g e n e r a lly A rm t o n e
t o r b o th B ,t 'i )V w f » r fa b r ic* a n d d re s s g o o d s .
v'.
r ~ <, >0* .— T h e r e h a s b e e n s o m e in c r e a s e in th e
BBWtfw? n t a H e rs r o u tin g to b a n d th is wet-k f o r m e n ’s -w e a r
and w o r ste d lfcbn.es. b u t th e q u a n titie s c a lle d f o r h a v e
-* - n a i m u n i f o r m l y lim ite d . A ll-w o o l fa n c ie s u n d e r $1
- - yard ha- » had c h ie f a tte n tio n , and th e m a jo r it y o f thee >
t v iw
mi,<*.® d o in g a t a d v a n c e * o v e r t h « p r ic e s r u lin g e a r ly
a the *»-s*on o f fr o m 3 to 10 p er c e n t . H ig h e r g r a d e fa n c ie s
-,?f ir.ditT,T‘ -rt y ( o u g h t ju s t n o w .
C la v e , p la in c o lo r e d
cHevm rs and o th e r « * » < • * s r « A rm . T h e re is little d o in g in
*>?i , or.-,
r
O n r c n d m c o n t in u e d u ll b u t
m -'t-iy u n a . C lo a k in g s in fa ir d e m a n d . F la n n e ls a n d
S to c k o f P r i n t
O lo lk i—
M ay 3
1896.
M ay 9.
47«,OO0
240.000
400.000
2 6 9 .0 0 0
8 6 3 .0 0 0
5 2 9 .0 0 0
Total stook(Places)....1 ,1 1 8 ,000
1,661,000
A t P rovidence, 64 squares.
A tK all R iver, 84 squ ares..
At F all R iver, odd s iz e s ....
18«5.
1894.
May 11. •May 1 2 .
136,000 220,000
11,000 412.000
64,000 105.000
211,000
74 2,00 0
Foreign D ry G oods,— A generally dull week has been re
ported in foreign merchandise. The orders for fall goods in
dress goods, silks, ribbons, etc., have been limited in number.
Prices are firm. In seasonable lines re-orders have been in
different.
I m p o r t a t io n s a n d W a r e h o u s e W i t h d r a w a l * o f D r y G o o d s »
The importations and warehouse withdrawals of dry gooes
at this port for the week ending May 13, 1897, and since
January 1, 1897, and for the corresponding periods of last
year are a« follows:
may
i5 , 1897.j
THE
C H R O N IC L E .
965
| when a city once reduced its debt within the Constitutional
limit of 7 per centum, it took itself out of the excepted
class and became liable to the mandatory provisions of the
first clause of the section like all other munic ipalities in
TERMS OF SUBSCRIPTION.
the Commonwealth. To reach any other conclusion would
be to hold that any municipality whose indebtedness ex
T h e I n v e s t o r s ’ S u p p l e m e n t w i l l b e fu r n is h e d w ith ou t ceeded the 7 per centum limit on January 1, 1874, and in
e x tr a charge t o e v e r y a n n u a l s u b s c r ib e r o f t h e C o m m e r c ia l the intervening twenty-three years has paid such indebted
a n d F in a n c ia l C h r o n ic l e .
ness, may come to the Legislature at each succeeding ses
T h e S t a t e a n d C i t y S u p p l e m e n t w i l l a ls o b e fu r n is h e d sion and obtain authority to increase its debt 3 per centum
upon the assessed value of its property without any limita
w ith o u t e x tr a charge t o e v e r y s u b s c r i b e r o f t h e C h r o n i c l e .
tion whatever.”
*
*
*
*
*
*
*
The S t r e e t R a i l w a y S u p p l e m e n t will likewise be fur
“ The authority for this legislation must be found in the
nished w ith ou t e x tr a charge to every subscriber of the , third clause of the section of the Constitution above cited,
C h r o n ic l e .
I or it does not exist, and I am of the opinion that, when the
The Q u o t a t i o n S u p p l e m e n t , issued monthly, will also be indebtedness of the city of Philadelphia was, either by the
furnished w ith ou t e x tr a charge to every subscriber of the reduction of its debt or by the increase of the valuation of
I its taxable property or both, reduced to an amount less than
C h r o n ic l e .
j 7 per centum of the assessed value of its taxable property, it
TERMS for the C h r o n i c l e with the four Supplements was taken out of the category in which it belonged January
above named are Ten Dollars within the United States and 1, 1874, and must increase its indebtedness, if it so desires,
Twelve Dollars in Europe, which in both cases includes under the second clause of the section of the Constitution
postage.
above cited, to wit, by a proper action of its municipal
authorities, to an amount not exceeding 2 per centum upon
such assessed valuation of property, if it has not already
T e r m s o f A d v e r t is in g —( P e r in eli s p a ce .)
done so, and, if in excess of 2 per centum, but still within
O ne tim e.................................. S3 50 I Three M onths (13 tim es)..$25 00
One Month
(4 tim es). . 11 00 Six months
(26 tim es). . 43 00 the 7 per cent limit, then with the assent of the electors
T w o M onths
(8 tim es).. 18 00 |Tw elve Months (52 tim es). 58 00 thereof, as provided in said section.
The a bove term s for one m onth and upwards are for standing cards.
“ In the case of Wheeler vs. Philadelphia, 77 P. L. 33S,
the Supreme Court in discussing the eighth section of Arti
cle X IX . of the Constitution, uses the following language :
‘ The end sought to be attained was clearly a limitation
P h ila d e lp h ia , P a .— G ov ern or V etoes B ill In ten d ed to l e
m ove D ou b t as to the L eg a lity o f P rop osed B on d Issues .— upon the debt of municipalities, and 7 per centum upon the
assessed value of the taxable property therein was fixed as
W e reported last week the decision of Judge Biddle sustain the maximum. The fact was, however, known 'to the Con
ing the right of the city of Philadelphia to issue $11,000,000 vention that at that time the debt of the city of Philadel
of proposed bonds. To remove all doubt regarding the le phia and perhaps some other municipalities exceeded 7 per
gality of these bonds, a bill was passed by the Legislature centum. In such instances an arbitrary provision that
there should be no further increase of the debt
ntended definitely to legalize the same. This bill Governor might have worked great injury by the stoppage
Hastings on May 13 vetoed, stating his reasons as follows:
of public works already commenced and essential
“ This bill provides that cities of the first class whose debt to the public convenience and welfare. It was there
at the time of the adoption of the Constitution of 1874 ex fore provided that as to such municipalities the
ceeded 7 per centum of the assessed valuation of the taxable debt might be increased 3 per centum. The main contro
property therein, may increase their indebtedness 3 per cen versy, however, was as to the manner in which such in
tum upon such valuation, and by the second section ratifies crease should be accomplished. Here again the distinction
and confirms any increase of indebtedness heretofore made. is preserved between municipalities whose debt is under 7
Section 8, Article 9, of the Constitution of 1874, which limits per centum and those in which it exceeds 7 per centum. In
the debt of the various municipalities in the State, is as the former the municipal authorities may increase the debt
follows: ‘The debt of any county, city, borough, township, from time to time until 2 per centum has been added, pro
school district or other municipality or incorporated dis vided the original debt with the increase does not exceed 7
trict, except as herein provided, shall never exceed 7 per centum. After the 2 per centum has been added there
per centum upon the assessed value of the taxable prop can be no further increase without the vote of the people.’
“ The case of Wheeler vs. Philadelphia, supra, was decided
erty therein, nor shall any such municipality or district in
cur anv new debt or increase its indebtedness to an amount February 15. 1875, very shortly after the adoption of the
exceeding 2 per centum upon such assessed valuation of Constitution, and the interpretation there given has since
property without the assent of the electors thereof at a been followed in other cases, notably in Pike County vs.
public election, in such manner as shall be provided by law; Row-land, 94 P. S.. 238. It appears that the only city of the
but any city the debt of which now exceeds 7 per centum first class in the Commonwealth has an existing indebted
of such assessed valuation may be authorized by law to in ness much below the Constitutional limit, and therefore is
crease the same 3 per centum in the aggregate at any one not in a position to be ‘authorized by law to increase the
same 3 per centum in the aggregate at any one time’, but,
time upon such valuation.’
‘ This bill, it will be noted, is applicable only to cities as has already been stated, comes clearly within the pro
of the first class, and in that class there is at present but visions of the second clause of the section above cited.
“ I am of the opinion also that the proposed legislation is
one city, namely, the city of Philadelphia. It is predicated
upon the financial condition of that city on January 1, 1874, local and special in its character, and is forbidden by sec
being the date when the Constitution became operative. At tion 7, Article 3 of the Constitution ; but sufficient reasons
that time the debt of the city of Philadelphia was in excess having already been given for withholding my approval, I
of 7 per centum of the then assessed value of the taxable will not discuss this question.”
property therein. It appears, however, by an authoritative
N o rth C a r o lin a —T a x Levy fo r In terest Payments M ust
deliverance of the Court of Common Pleas No. 1, of Phila
delphia County, as recently as May 1, 1897, in Pepper et al. be S a n ction ed by E lecto rs .—The New York “ Evening Post”
vs. Philadelphia, 54, L egal In telligen cer, 200, that the assessed of last night contained the following special dispatch, under
value of the taxable property in the city' January 1, 1897, date of May 14, from Raleigh, N. C .: “ The decision of the
was §818,827,549, and the net debt at the same time
was $31,336,674, or less than 4 per centum of the then Supreme Court of this State, that no municipal corporation
assessed valuation of the taxable property. The loans sought has the legal authority to levy any tax to pay interest on
to be enjoined in the case above cited, but which the Court bonds regularly issued by the municipality, unless the au
held to be lawful, were S '1,000,000, and when added to the thority to levy the tax has been conferred by a vote of the
pre-existing indebtedness would still bring the city debt
much below the 7 per centum limitation provided by the electors, while not involving the validity of the bonds, raises
Constitution. It is true that at the time of the adoption of a question as to the payment of interest. The city of Char
the Constitution of 1874 the debt of Philadelphia exceeded 7 lotte recently sold $300,000 municipal bonds to New York
per centum of the assessed value of the taxable property, but parties, and a tax levy to pay the interest has not been sub
that condition has ceased to exist, not only because of the
reduction of her debt, but because of the increased value of mitted to the voters. There is a like situation in Durham
County, where the interest on $325,000 of town and county
her taxable property.
“ I am of the opinion that the section of the Constitution bonds may be temporarily suspended, and the same is true
above cited is an express limitation upon the power of as to many thousands of other county and municipal bonds
municipalities te contract debts in excess of 7 per centum
of the assessed valuation of the taxable property therein. throughout the State. While a popular vote may authorize
The exception in the last clause of the section, viz.: ‘ But a tax levy for future interest payments, it is an unsolved
an v city the debt of which exceeds 7 per centum of such legal question what to do about unpaid back interest the tax
valuation may be authorized by law to increase the same 3 levy for which was not voted upon.
per centum, in the aggregate at any one time upon such
valuation’, was evidently intended to provide for the relief
of those cities which at the time of the adoption of the
B o n d P r o p o s a ls a n d N e g o tia tio n s .
Constitution
had a debt in excess of 7 per centum
.A dair County, Mo .—B on d E lectio n .— An election will be
of
the assessed value of
the taxable
property,
and to provide for any exigencies
which might held in Adair county on June 1, 1897, to decide the question
arise requiring an increase f j their indebtedness. But cf issuing court-house bonds to the amount of $50,000.
S
tate
and
C ity DErAW M ENT.
THE
|»66
C H R O N IC L E .
^ i r
Sd - B o n d *'</«•• -T h e *15,000 of 5 per cent
U.frdeen, H«* "
f Atwrdoen w.*r» *old to the United
Interest
the
* i n . i ^ r , . * r * & « * h e n » * N * t l o « » l lU t of Aberdeen
! t ' p :im w * l will M t W tu
, subject to call after
v t .,.*
« tu tim o ,* . lid.
«
[Yol.
l x iv .
11 1307
Chelsea, Mass.— B on d Sale . —On M ay
,
. the $.jO,000
of 4 per cent park bondi were awarded to R. L. Day & Oo. of
Boston, Mass., at 110*317. The other bids received wore :
Jose Parker M Co.. Boston, M ass,................................................. in o A c m ®
E gtab rook & Co., Boston, Mays.......................................................inos& V
H. S. Humor & C o,,B oston, Mass.. ............................................W S f .
R udolph Kleyholte & Co.. Mew Y ork, N. 4 ......................g iS
Belaud, T ow to <fc Co., Boston, Mass ...........................................
u l - c l t c n j . I’ e.— /•’••'« f D /m in i.-P ro p o sa l* w ill b e r e - B M M Merritt & Oo., Boston, Mass...................... - ..................” 8 * 5 8
W. Harris & Co., Boston. Mass ................................................ IffS.i s o
u., j „.,tu May 2J. ISO', for the purchase of pl6),Q0Jot i St.
Parson, Beach & Co., Nuw York, N. 4 .......................................
E.
H, Rollins & Sons, Boston, M ass.................................... ....... T8o.Hi&
pt-f -Ofifll W^tiQOi bOQ j&*
W. J. H ayes * Sous, Boston, M ass............................................... in o .S i,,
, mhter Pa.—B o n d E le ctio n .— A proposition to issue bonds Blake Bros. & Co., Boston, M a s s .... ......... ..............................
•, V , a-r tint of *1<3,0UO for sum-improvements will be put Jus. \V. Longstroot J; Co., Boston. M ass............ ................... (0 9 040
Dietz, Denison A P rior, Boston, M ass......................................... ,2 3 . t o o
to * V ■•• of the people of Ambler on May 18, 1897.
D. W. Howland, Boston, Mass.......................................................
E. H. Gay & Co., Boston, Mass............................................ ..........luh Ui|o
1923
Baltimore, E C — T em porary L o a n .- ^ h o city of Baltimore
h*,* made a six months* loan of $500,000.
The securities are of the denomination of $1,000 each, dated
April 1,1897; interest is payable semt-annu illy on the first
days
of April and October, at the office of the City Treasurer
lumbers. S. ( . - B o n , l Sah . - T h e town of Bamberg has
„,*S I..;.,. ami $20,000 of court-hoaae_ and jail of Chelsea, and the principal will mature October 1, 1930.
r.>ad* The securities bear musrest at the rate of o per cent,
Cherry Coantw, Neb — B on d s A u th o riz ed .— County Clerk
paydi.le semi annually and will mature from 1398 to 198 , iu- Geo. Elliott reports to the CHRONICLE that the People of
Cherry County have authorized the issuance of $12,000 of
CltxffNfet
Bar fotmty, Mich.— Bond O ffe r in g — Proposals will be court-house bonds. The securities are to bear 5 per cent in
n £ i i . d until June 14, 1897. by Bay County for the purchase terest, payable semi-annually, and mature in twenty years
from date of issue, subject to call after ten years. The date
of ?! ‘.000 ,>f 4 per cent 2M0-year refunding bonds.
of sale will be determined at the meeting of the County^
Berkley, V*.— C orrection .— John Whetstone, Chairman of Board in June,
the Finance* Committee, reports that an additional issue of
Chester, S. C.— B on d s A u th o riz ed .— T h e citizens of Chester
soj ,s'si0f improvement bonds has not been authorized, as was
stated in the CnKOKfChg of last week, the State Legislature have authorized the issuance of §50,000 of bonds for the con
having authorized only $50,000 of bonds, which amount has struction of water works and an electric-light plant.
been issued. Twenty-five thousand dollars of this amount
Chippewa County, Mich.— B o n d Offering.—Prooosa'.Is will
was scid last year and the remainder last month.
be received until 2 o’clock P. M. June 1, 1897, by William M,
Snell, County Clerk, for the purchase of $40,000 of 5 psr cent
Bingham County, Idaho.— B on d Sale .—On May 8, 1897, refunding bonds. The securities will be of the denomination
457.893 of 8 per cent bonds of Bingham County were given m of $500 each, dated June 1, 1897; interest will be payable
exchange for outstanding warrants. Tha King Bridge Com semi-annually on the first days of June and December at the
pany of Cleveland, Ohio, acquired most of the issue.
Chase National Bank of New York Oily, and the principal
Black Hank. C o l— B on d s A u th orized .—The citizens of will mature June 1, 1912. Each proposal must be accom
BUi.'i; Hawk have voted in favor of a proposition to issue panied by a certified check for $500.
,
Tbe bonded debt of Chippewa County, not including this
$;tj,00o of water-works bonds.
issue, is $142,000; the assessed valuation as equalize! f or 1800
Boteawen, N. H.—B on d S ale .—In April, 1897, the town of is *3,475,998; the real value is estimated atabout *3,041,280.
) ,«J *8,000 of 4 per cent bridge bonds. The bonds
The population of the county in 1894 was 15,319.
are of the denomination of *100 each. Interest is payable
Clermont County, Ohio.—Bored Sale.— The *20,000 of 5 per
annually on the first day of July at the office of the Town
Treasurer, and the principal will mature at the rate of *500 cent bridge bonds of Clermont County were 3old to Christian
Walsh of Cincinnati, Ohio, for $32,137. The securities are of
per annum from July 1, 1902 to 1913, inclusive
the denomination of $500 each and will mature m nine years
Bristol,Conn.— B on d O fferin g.—Proposals will be received from date of issue.
unvd - o'clock i*. m. June 1, 1897, by the Board of Selectmen
Coatesvllle, P a . - B o n d Sale .- T h e $33ijibo of 4 per cent
(or the purchase of $100,000 of 4 per cent funding bonds.
The securities will be of tha denomination of *1,000 each and water bonds of this borough have beeu sold at 10-. The
will be secured bv a sinking fund of $8,000 per annum; they s e c u r itie s are of the denomination of $100 and $5_00; interest
will be dated July 1, 1697, interest will be payable semi- is payable semi-annually on the first days of January and
asBuaUy on the first days of January and July, and the prin July, and the principal will mature January 1, 1937, subject
cipal will mature July 1, 1937, both principal and interest to call after July 1,1898,
being payable at the Bristol National Bank. No bid for less
College Point, N. Y.— B on d O ffering .—Proposals will be
than par and accrued interest will ba considered,
received until 3 o’clock r, M. June 7, 1897, by the Village
Trustees of College Point for the purchase of §11,000 of 4 per
Brooklyn, N*. 1 , —B on d O fferin g .—Proposals will be re
cent water bonds. The securities will be of the denomina
ceived until 12 o'clock noon .May 18, 1887, by George W . tion of $1,000 each and will mature in twenty years from
Palmer, City Comptroller, for the purchase of the following
date of issue. Eaoh proposal must be accompanied by a cer
registered ’H i per cent gold bonds and stock: $375,000 of
ohjoli Jilted ‘gold stock issued for improvement of the water tified check for 5 per cent of the amount bid.
system, payable January 1, 1937; $18,500 of water bonds payColumbus, Ga — B on d s P r o p o se d .—The city of Columbus
a> i- May '/>, 1917; $s,500 of Gravesend improvement bonds, proposes to issue court-house bonds to the amount or $*p,uuu.
payable "May 21, 1925, Interest on all the securities is payable
Crawfordsrlile, Ind .— B o n d Sale .— The city of CrawfordsM-nu-anmuJly on the first days of January and July.
,
K not! n f A
— - — — 1 1— *’ **
1
0 0/1 11
l sillioun County, Ala.— B on d Sale. —The $75,000 of 8 per
cent funding bonds of Calhoun County have been awarded to
Dietz. Denison & Prior, of Cleveland, Ohio, at 102*75.
The «:<.unties are of the denomination of $500 and $1,000,
baud June 1, 1597; interest is payable semi-annually on the
first day* of April and October at the Tredegar National Bank
of Jett ksonvUlf, and the principal will mature June 1, 1917.
tiiol
tbe only indebtedness of the county.
Tl s
valuation of the real estate and personal prop
erly for 1896 was *8,000,000; the real value is estimated at
0; tax rate (per $1,000) for 1897 will be $8 70,
T h e population at the present time is estimated at about
86,000.
( «pe May, N, J . — B on d Sale .—Ou May 6, 1897, the follow
ing hid* were received for the purchase of the $12,000 of 5 per
cant bond* of the city of Cape May I
Z H f .» j b O n ............,,„ 1 0 ,y o 7 (i |Leaner* Bennett......... ....tOPOOO
.1 * i . r ! ♦*........1 0 4 * 5 0 0 1 Morris Cr«--"R... . . . . . . . *..1038180
K4**. >'*.
...104*800 Henry R. Wilson .............. 103*465
J
•> * v .......... ....1 0 4 4!50 ! lloht'rtE.Huglu * ............... 102*500
R*»; F. Jakrwea .......... 104*3501
The hood* were awarded to E. H. Gay & Co, at their bid
of 105*07.
The securities are of the denomination of *500 each; interest
w payable nr-ml-inmiaily on the first days of 51ay and No
vember. and the principal will mature in twenty years from
date of Inn*.
•
Chagrin Vella. Ohio.— B on d Sale .—Tbe $35,000 of fi per
cent water-work* bonds of Chagrin Falls were awarded to
f „•: < ■
*'*f Toledo, Ohio, at a premium of $3,467 50.
>w**iy
tm! . bids were received Tbe securities will Bia
s' to 25 years from date of issue.
Cuvahoga Falls, Ohio.— B on d E lection — A n election will
be held in Cuyahoga Falls on May 29, 1897, to vote on a
proposition to issue water-works bonds to the amount of
$70,000,
Delaware—B on d s P rop osed .— A bill has been introduced in
the Delaware State Legislature authorizing the State to ref und
*195,000 of 4 per oent bonds by an issue of 3 per cent bonds.
East Orange, N. J .—Bonds A u th orized '.— The Board of
Education of East Orange Township has been authorized to
Issue $67,000 of bonds for the purchase of a school site and
the erection of a building thereon.
Fort Scott, Kan.—Bored Nsios. —The $11,000 of 6 par cent
bonds of Fort Scott, recently purchased by the State School
Fund Commissioners of Kaasas, were issued by that city July
1, 1887, and are due July 1, 1907.
Galveston, Texas.— R ega rd in g the prop osed in o re iso in the
City's B onded D ebt .—A committee of the tax-pavers of the City
of Gal veston has sent a protest to the Texas Ssnate against
amending the city’s charter so as to authorize a further issue
of bonds, unless first submitted to a vote of the citizens of
Galveston. Among other things they claim that an issue of
bonds to fund tbe floating indebtedness would only cause
temporary relief and that the floating debt of the city could
be paid "off by decreasing the expenses and by taxation
assessed according to tbe true value of the property,
Tbeo. K. Thompson, City Auditor, in a letter to the Gal
veston “ Daily News,” answering statements that the city’s
debt had increased, presents the following facts :
" When tbe present administration took charge of the city s
affairs the debt of the city was found to be :
M a t 15, 1897. j
THE
C H R O N IC L E ,
Total bonded d e b t ...........................................................................$3,133,700
A ccrued interest on same........................... - .............. .................
71,261
Total ...................................
$3,204,964
Floating d ebt.......................................... ...................... - ................
423,865
Gross indebtedness...........................................................................$3,62S,829
Deduot bonds held in trust for sinking funds and cash in
hands o f Treasurer.........................................
612,106
Total net debt June 1, 1895....................................................$3,016,723
N ow take the last q u a rterly debt statem en t o f the city
dated M arch 1, 1897:
Total bonded debt.............................................................................$3,426,000
A ccrued interest on sam e,.........- ....................... ........ ..................
28,918
T o ta l...........................................
Floating d ebt................................................................................
$3,454,918
198,970
Gross indebtedness.......... .................................
.....$ 3 ,6 5 3 ,8 8 8
Deduct bonds held in trust for sinking funds and cash in
793,175
hands o f Treasurer......................................... - .............. ............
Total net debt March 1 ,1 8 9 7 ................................................. $2,860,713
The above statem ents sh ow that the floa tin g deb t o f J u n e,
1895, say $423,865, red u ced b y a b on d issue o f 8200,000, had
been still further red u ced from $223,865 to $198,970, m a k in g
a red u ction o f $24,895 in th e floa tin g debt, and that the total
n et deb t o f the c ity was red u ced in the tw en ty -on e m onths
fr o m June, 1895, to M arch, 1897, from $3,016,723 to $2,860,713,
m a k in g a total red u ction o f $156,010.
H a r tfo r d (C on n .) A rs e n a l S c h o o l D is t r i c t . — Bond Sale.—
T h e $100,000 o f fu n d in g bonds o f this d istrict w ere aw arded
to F . R. C ooley o f H a rtford , C on n., a t 105T5. T he oth er bids
re ce iv e d w ere :
D ietz, DeDizon & Prior, Boston, Mass ............................................ 105T37
E. H. Gay A Co., Boston, M ass............... ............................................105 030
N. W. H a n ts A Co., New York, N. Y .............................. .................. 105 009
£ . C. Sxanwood A Oo., Boston, Mass
................. ......................... 105-000
Farsou, Leach A Co., New Y ork, N. Y ......... ............ ...................... 104-600
C. H White A Co , New York, N. Y .................................................. 104-330
Street, Wykes A Co., New York, N. Y ..............................................103-670
Third National Bank, Boston, M a s s ............................................... 103 477
E . H. Rollins A Sons, Boston, .Mass ................................................ 102-537
T ravelers’ Life Insurance Co., H artford, C onn.............................101-8T75
H. S. Hom er A Co., Boston, M ass......................................................100 353
The bonds are o f th e d en om in a tion o f $1,000; interest at the
rate o f 4 per ce n t is payable sem i-ann ually, and the principal
w ill m ature in tw en ty years fr o m date o f issue.
H ig h la n d P a r k , K y .— Bonds Authorized.— The citizen s o f
H igh la n d Park have voted in fa v o r o f a proposition to issue
$5,000 o f sch ool bonds.
H om estea d , P a .— Bond Issue. — F u n d in g bonds to the
a m o u n t o f $20,000 w ill soon be issued.
967
purchase o f $75,000 o f 5 per cen t cou p on bonds. T he securi
ties w ill m ature in fro m ten to th irty -fo u r vears fr o m date o f
issue. O f the total a m ou n t to be issued $67,000 w ill be used to
refu n d a like a m ou n t o f 6 per cen t bonds and $8,000 w ill be
applied to va riou s im provem ents.
Bond Gall.— N otice has been g iv en that $70,500 o f 6 p e rce n t
10-34 yea r optional bonds o f S500 each o f the C ity o f M anches
ter h ave been ca lled fo r pa ym en t at the office o f the C ity
Treasurer, on J u ly 1,1897, after w h ich date the securities w ill
cea se to bear interest.
M a rin e tte , W is .— Bonds Proposed.— S ch ool bonds to the
a m ou n t o f $15,000 are u nder consideration.
M a r tin , T e n n .— Bonds Authorized.— The citizens o f the
city o f M artin h ave voted in fa v o r o f a proposition t o issue
$25,000 o f w ater-w orks bonds. The securities w ill be o f the
den om in ation o f $1,000 each ; interest at the rate o f 6 p e r ce n t
w ill be payable a n n u a lly at the office o f the C ity Treasurer o f
M artin and the prin cip a l w ill m ature in tw en ty years fro m
date o f issue.
M e d fo rd , M ass.— Bond Sale.— On M ay 11,1897, the $200,OOo
o f 4 per cen t bonds o f the c ity o f M ed ford were aw arded to
B lod get, M erritt & Co. o f B oston , Mass., at 106-923. The
oth er bids receiv ed w ere :
Blake Bros. A Co., B oston,M ass................................................... 106-790
Estabrook A Co., Boston, Mass ...................................................106-650
Rudolph K leybolte A Co.. New York, N. Y ................................. 106-490
R. L. Day A Co., Boston. M ass........................................................ 106-446
Adams A Co., Boston, Mass ........................................................... 106-396
E. H. R ollins A Bons. Boston, Mass............................................... 106-3790
Jas. W. Longstreet A Co., Boston, M ass.......................................106-370
H. 8. H om er A Co., Boston, Mass.................................................. 106-367
Jose Parker A Co., Boston, M ass................................................... 106-2195
Cnehman, Fisher A Phelps, Boston, Mass....... ..........................106T 54
Geo. A. Fernald A Co., Boston, M ass............................................ 106T 47
Parson, Leach A Co., Boston, M ass................................ .............. 106-075
Tower, Giddings A Co., Boston, M ass....... .................................. 106-070
Dietz, Denison A Prior, Boston, M ass....... .................................. 105-880
D . W. Howland, B oston, Mass....................................................... 105-710
E. H. G ay A Co., B oston, M ass...................................................... 105-410
The securities are o f the den om in a tion o f $1,000 each , dated
M ay 1, 1897, interest is payable sem i-ann ually on the first
days o f M ay and N ovem b er, and the principal w ill m ature
M ay 1, 1917, both prin cip a l and interest bein g pa ya b le at the
H ow a rd N ational B a n k o f B oston , Mass.
M elro s e , M ass.— Bond Sale.— On M ay 11, 1897, the $50,000
o f 4 per cen t sch ool-h ou se bonds o f the to w n o f M elrose w ere
aw arded to E stabrook & Co. o f B oston, Mass., at 106-59.
E. H. R ollins A Sons, B oston, M ass.............................................106-449
Blake Bros. A Co., Boston. Mass............................................ .-___ 106-410
Tower, Giddings A Co.. Boston. Mass.......................................... 106-279
Farson, Leach A Co.. New York. N. Y .......................................... 106-150
Parkinson A Burr. Boston, M a»s............... ...................................106-012
Dietz, Denison A Prior, B oston, M ass.......................................... 106-077
Blodget, Merritt A Co.. Boston, M ass...........................................106 030
Geo. A. Fernald A Co., Bostou, Mass.......... . ............................. 106-C20
N. W. Harris A Co.. Boston, Mass.......... ........................ . ........... 105-930
F oote A French, Boston, Mass........................................................105-879
Rudolph K leybolte A Co.. New York, N. Y .................... ........... 105 810
R. L. Day A Co., Boston, M ass....................................................... 105*796
Jose c arker A Co., Boston, M ass...................................................105-6975
Adams A Co., Boston, M ass............ ............................................... 105-580
Third National Bank, B oston, Mass............................................. 105-550
Jas. W. Longstreet A Co., B oston, Mass....................................... 105 548
D. W. H ow laod, Boston, M ass........................................................105-510
E. H. Gay A Co., Boston, Mass............................. ........................ 105-270
Leland, T ow le A Co., Boston, Mass...................................... ....... 105-075
H u n tin g to n , C o n n .— Bond Offering.— Proposals w ill be
received u ntil M ay 17, 1897, b y th e tow n o f H u n tin gton fo r
the purchase o f $75,000 o f 4 per cen t tw en ty -yea r refu n d in g
bonds.
H n n tin g to u (IV. V.) S c h o o l D is tr ic t.— Bond Sale.— The
$15,000 o f 6 per cen t sch ool b on d s o f this d istrict h ave been
aw arded t o D ietz, D enison & P rior, o f C levelan d, O hio. In
terest on the securities is payable a nn ually and the principal
w ill m atu re in th irty years fro m date o f issue, s u b je ct to ca ll
a fter ten years. B oth prin cip a l and interest are payable at
The bonds are o f the den om in a tion o f $1,000 each , dated
th e N ational P ark B ank o f N ew Y o r k C ity.
H u n ts v ille , T e x a s .— Bond Issue — T he tow n o f H un tsville F ebru ary 24, 1896; interest is payable sem i-ann ually in F e b
ru
ary and A u gu st, and the principal w ill m ature in tw en ty
is a bout t o ssue $18,000 o f bonds for w ater w orks a n d s c h o o lhouse purposes. The securities w ill proba b ly bear interest at years from date o f issue. Both prin cip al and interest are
th e rate o f 6 per cen t and m ature in fo rty years fro m date o f payable at Boston or Melrose.
issue.
M ila n , T e n n .— Bond Election.— The tow n o f M ilan recen tly
voted in fa v or o f a p roposition to issue $16,000 o f w ater-w ork s
I n d ia n a p o lis , In d .— Bond Offering.— P roposals w ill be re
and electric ligh t bonds. It is n o w rep orted that the election
ce iv e d u ntil 12 o’ clo ck n oon , May 27, 1897, by E. M. Joh n son , was irregular, as it is said the registration books w ere n ot
C ity C om ptroller, fo r the purchase o f $150,000 o f 4 per cen t open tw en ty days b efore the election, w h ich , it is cla im ed , is
In dianapolis p u b lic sa fety bonds. The securities w ill be o f requ ired b y th e election la w ,
M ilw a n k e e , W is ,— Debt Limit not yet Reached.— A s stated
th e den om in a tion o f $1,000 each, dated J u n e 1, 1897; interest
in the C h r o n i c l e o f M ay 1 bids w ill be open ed on M ay 18,
w ill be payable sem i-annually on th e first days o f January 1897, fo r the purchase o f $200,000 o f M ilw aukee library and
a n d J u ly , the first co u p on bein g fo r on e m on th ’ s interest. m useum bonds. C ity A ttorn ey H a m ilton recen tly subm itted
T he prin cip a l w ill m ature J a n u a ry 1,1927, both prin cip a l and to M ayor Rauschenberger an opin ion on the question raised
in terest being payable at the office o f W in s lo w , Lanier & C o., w ith reference to rig h t o f the city to issue m ore bonds. It had
been cla im ed b y certain parties that u n der th e C onstitu
N e w Y o r k C ity. N o bid fo r less than par and a ccru e d in ter tional A m en d m en t o f 1874, lim itin g the issue o f m u n icipal
est w ill be con sidered, and each proposal m ust be a c c o m bonds to 5 per cen t o f the last assessment fo r state and cou n ty
pan ied b y a certified ch eck fo r 2J^ per cen t o f the a m ou n t bid taxes, the c ity co u ld n ot g o beyon d the lim it o f 5 per cen t o f
th e assessed valuation as fixed by the State or county
fo r.
boards. If this valuation w ere used in com p u tin g the debt
The official advertisement o f the bond offering will be found lim it instead o f the valu ation as established b y the local
elsewhere in this Department.
assessors and used b y the city authorities in determ in in g the
L a u ren s, S. C .— Bond S ale.— The c ity o f L au reas has sold am ou nt o f bonds that cou ld be issued, the c ity at the present
$80,000 o f 6 oer ce n t e le ctric-lig h t and w ater-w orks bonds to tim e w ou ld h ave n o authority for in creasin g its indebtedness.
In his op in ion to the M ayor, Mr. H am ilton said :
G. W . W illia m s o f Charleston, S. C.
The securities are
“ In the ch arter o f M ilw aukee w ill be fou n d the provisions
dated April 1, 1897; interest is p ayable a n n u a lly at the C a ro
lina Savings B ank o f C harleston, S. C ., and the principal w ill and m od e o f assessment in dicated by statute fo r a scerta in in g
m ature in fo rty years fr o m date o f issue, s u b je ct to ca ll a fter loca l values, and an assessor fo r each w ard is p rovid ed for.
These are the on ly officers a uthorized b y la w to maka any
tw en ty years.
assessment o f property in this city. A n assessm ent m ade by
L e ic e s te r, Mass.— Temporary Loan.— T he tow n o f L eices
a n y oth er officers or persons w ou ld not ba va lid or bin d in g.
ter has placed a tem porary loan o f $20,000 w ith B ond & G o o d
* * * Section 6 o f Chapter 11 provides that, for b on d issuing
w in o f B oston, Mass.
purposes, th e a m ou n t o f ‘ the assessed value o f the taxable
Lynn, M ass.— Bonds Authorized.— The c itv o f L y n n has p roperty in the city shall be ascertained and deter been authorized to issue a sew er loan o f $100,000 and a library m in ed b y the a verage annual am ou nt o f the assess
loan o f $35,000.
m ent
rolls
th ereof
fo r
th e n e x t p reced in g
five
M a n ch ester, V a .— Bond Offering. —Proposals w ill be re years.’
T h is la w w as enacted
p rior to
the C on sti
ce iv e d until M ay 18, 1897, by the city o f M anchester, fo r the tutional A m en d m en t u nder con sideration, and is clea rly
988
THE
C H R O N IC L E .
[Vox., LXIV,
Newton, Mass.—B on d s A u th o riz ed .—The Board of Alder
**H<i 8 b I**s rontmrf to the provisions of the lat<*r. Chi***, thi-rcfarv, the language of the Constitutional men has authorized the citv of Newton to issue $40,000 of
•Ameritu-.t n t. xt-liritiy contravene* or inhibits the provisions street-improvement bonds. Tne securities will be of the den
f the statute, the latter l» legal and in force. I do not think omination of $1,000 each; interest will be piyable at the rate
jib he *u«* srfully contended that the language of the Of 4 per cent and the principal will mature in twenty years
from date of issue. Seth A. Ranlett, Oity Treasurer, reports
amendmaat In <|u.-dion can bo so construed,
"ii, ..much as the assessment made by the City Assessors to the Chroniclk that it is probable that the entire issue will
s. the or.ly one authorised B? law to be made, and the State be taken by the Sinking Fund Commissioners of Newton.
i . unt.v e<)ualication or apportionment is based on it, it is
Newark. Ohio.— B on d O fferin g,— Proposals will be received
dthi'ult to M r what other assessment can be referred to
until 12 o’clock noon, May 21, 1397, by W . M. Beatty, Clerk
t-y the language of the Constitutional Amendment.
It
bm*»
ii.e woni ‘assessment' and not ‘apportionment’ of the B >ard of E lucatioa, for the purchase of $13,000 of 5
or ’cijuaitcation.'
Then, again, the language of the Con- per cent school improvement bonds. The securities will be of
*5iiu.tson is, ‘ the last ass* »ment for State and county taxes.’ the denomination of $1,000 eaob, dated June 1, 1897; interest
This clearly contemplates odo assessment and not two will be payable semi-annually and the principal will mature
c.’juaiiiitions or apportionments made by two separate and at the rate of $1,000 per annum from June 1, 1898 to 1909,
icclusive.
distinct boards, Apportidttmente so made can never, in the
Course of things, bo identical. Then which apportionment or
New Mexico.—Bond Safe,—The Geo, D. Cook Co. of Chi
wnihr »tl,*n shall control, that made by the State Board of cago, 111., has been awarded $55,000 of >5 per cent 30-year
K
rati *n or that made by the County Board of Supervis- N?w Mexico bonds at par. Of the amount issued, $30,00t>
c r-’ In 1896 the equalized value of property in the city was will be applied to the enlarging of an insane asylum, $15,000
fixed by the State Board at $113,533,407 67, and by the County to the erection of a military academy and $10,000 to the com
i . :4t $74.-; C,I"3, or snore than $89,000,000 less. The lat pletion of a normal school.
ter i->Jy (-iualir-'d the value of city property in 1805 at $142,New York City. — B on d s A n thorized. —The bill authorizing
510,977 and in 1804 at $69,800,000. Such jumpiog-jack figures New York City to issue $3,500,000 of bonds for the erection of
surely cannot be deemed a basis for computing values upon new high schools has been signed by the Governor.
which to issue municipal bonds.” * * * *
Norfolk County, Ya.— B on d Sale,— On May 11, 1897, the
“ 1 therefore have the honor to advise you that in my
opinion the Constitutional limitation upon municipal indebt $25,000 of 5 per cent refunding coupon bonds of Norfolk
edness of 5 per cent in the case before us is to be ascertained County were awarded to J. P. Andre Mottu & Co. of Norfolk
from the assessoMatat property within the oity of Milwaukee at 108 562, The other bids received were:
m made by the local assessors and confirmed by the Board of Caldwell H ardy, Norfolk, V a...............................................................103-060
P. O’Connor ($2,000)........................................................................... 102-500
Review," * * * *
Edw. C. Jones Co., New Y ork, N. Y ......... ....................................... ,101-050
“ U appearing from the records that the average assessed Merchants' Sc Farmers’ Bank .............................................................100-226
valuation for the preceding five yearn is $137,718,100 00, of W. J, Hayes & Sons, Cleveland, O h io ..................... ............ $754 premium
Denison A Prior, Cleveland, Ohio .............. ...........................567-85
which 5 per cent is $6,885,905 90. and the outstanding bondep Dietz,
Kudolph Kleybolte & Co., Cincinnati, O hio..................................... 381-00
indebtedness is $6,852,250 00, it is manifest that the Constitu
The securities are dated July 1,1897; interest is payable
tional limit of indebtedness has not been reached, but on
the contrary there is still a large margin of about half a semi-annually, and the principal will mature in ten years
from the date of issue,
million dollars,”
Norristown, Pa.— B on d E lectio n . —The citizens of the town
Bond R edem ption , —Notice baa been given that Wm. J.
FiebranU, City Comptroller, will receive proposals until 10 of Norristown will in a short time vote on a proposition to
o'clock a . st., June 1, 1897, from the holders of Milwaukee issue $200,000 of electric-light and improvement bonds,
City bonds subject to redemption by lot at or below par. to
North Carolina.— B on d s P rop osed . —It is reported that the
surrender their bonds for cancellation to an amount not State of North Carolina will probably issue bonds to meet the
greater than the amount of the sinking fund now on hand.
interest falling du - in 1897 and 1893 on the outstanding bonds.
Oneonta (N. I .) Union Free School District No. 5 .— B o n d
Minneapolis, Minn.— Bond O ffering.— Proposals will be re
ceived until 2 o'clock p. M., May 28. 1807, by the Committee Sale, —On May 10, 1897, the $10,000 of 4 per cent school bonds
on May* ant! Means of the City Council, care of Wallace G, of this district were awarded to the Wilbur National Bank at
City Comptroller, for the purchase of $400,000 of 4 par 100-905. Bids were also received from W , J, Hayes & Sons,
cent water bonds and $101,000 of 4 per cent school bonds, Rudolph Kleybolte & Co,, E, Mormon, Geo. ME. Hahn, S, A,
The securities will be of the denomination of $1,000 each, Kean and the Edw. C. Jones Co, The securities are dated
date 1 January 1,1897 ; interest will ba payable semi-annually January 1, 1897; interest is payable annually on January 1 at
-Hi the firs! days of January and July, and the principal will the Wilbur National Bank at Oneonta, N. Y , where the prin
uitiHsr.; ors January 1, 1927, both principal and interest being cipal also will be payable. The bonds are of the denomina
payable at the fiscal agency of the City of Minneapolis in tion of 500 each and will mature as follows ; $500 yearly from
•hew v ork City. Nobid for less than par and accrued interest January 1, 1899, to January 1, 1902, inclusive, and S3,000 each
w'dl t • cor si h red, and each proposal must be accompanied by year thereafter to and including 1906. The loan is issued for
a certified check for 2 per cent of the amount bid for. The the purchase of a new school site and erecting a school build
total bon ltd debt of the city of Minneapolis, including these ing thereon, and is part of an authorized issue of $24,300 ; the
i
is $3 340,000; water debt, included in total bonded remainder will probably be offered for sale about July 1,1897,
oebt, *1.8:9.1,100, There is no floating debt and the sinking
The total indebtedness of the school district, not including
fund amounts to $1,393,198, The atsesaed valuation for 1897 this issue, is $0,250 ; its assessed valuation, according to the
i-r 3Ib2.i76.ol0; the actual value is estimated at about $250,- last assessment roll, is $1,533,761, and the population is esti
" 0d.*«. Th.- population, according to the National Census of mated at 7,000.
,W,00<>•»<* ncoordlngto the State Census of 1895,
Otero County, Col,— B on d S ale.—l a April, 1897, $7,500 of 6
per cent 10-20 year court-house bonds of Otero Countv were
Mississippi —B ow ls P roposed ,— \ hill providing for the sold to the Geo. D. Cook Co, of Chicago, III., at 112*50. In
:■*••isw.ru of tomU to the amount of $750,000 for the erection of terest on the securities is payable at the Chemical National
a -hw t. ij-iUd w now before the Mississippi State Legislature. Bank of New York City.
1 secunUM, « authoru *d, will bear 4 per cent interest and
Pawtucket, R. I .— B on d Sale, —A report has been pub
mature in twenty years from date of issue, subject to call lished that the city of Pawtucket has sold $500,000 of 4 per
».t< r s. h years. _ v prop osition to borrow $200,000 to neet the
cent 40-y.ear gold refunding bonds to E, C. Stauwood & C o.,
, 1
,ic” will occur in the State treasury during this year of Bosk®, Mass,, at private sale. The “ Boston News Bu
h aUo under consideration,
reau” reports that the securities were sold to that firm early
Mode* to, ( al.— Bond O ffering,—‘P ta p o n i^ will ba received last month.
h i
l
h 1“'-*'. by the Board of Directors of the city of
Pierniont, N, Y.— B on d s V oted .— It is reported that the
..mrrnit) tat the purchase of $20,000 of irrigation bonds.
people of the town of Piermont have voted in favor of the
MorrU <viBnlj, V S .~ B o m h A n th orized , —Morris County issuance of street improvement bonds to the amount of $6,000.
Pittsfield. Mass.— B on d Sale — The following is a complete
i.-*-., ° '‘ ttbori*nI to issue $50,000 of road-improvement
list of the bids received for the $170,010 of 4 par cent gold
Mmilsitir, Mini
O ffering — The village of Muniaing school bonds and the $100,000 of 4 per cent gold water bonds
Y ,*^i 1 r firoik** ds tor th * psrotiav; of 7-14,000 of water-works of the city of Pittsfield,
School
Water
'• I i ”', y‘
w*tl! be of the denomination of $900
Hands,
Bonds.
,
J**
will be pivtbk- annually at E, H. Rollins .1- guns, Boston, M as*.........
...1 0 1 -1 5 7 0
102-639
102-579
. V . v v**8 ’ Treasurer or at any bank in Chicago R. h. Day A Co., Boston. Muss................. .
“
Merritt * Co.. Boston, Mass........
102-523
,
J' 7 , •
' '•,
1‘ " r may desire. The binds will IBKnliret,
i O, Stauwood & Go., Boston. Mass_____
...1 03*7 940
102-278
’ lav'’ ” *>'■*• r *''' '' •>*>.'AK* »**ery five years beginning with Joan Parker A Co.. Boston, M a a s..... ........ ...103*0795
102-317
1
— 1 0 4 -1 3 9 0
...D M -0 6 0 0
Napoleon. Ohio.—Rentd O ffering .—Proposals will ho reV;
7 'V,
n:'' ,n‘ M“y w , 1897. by J. P. Mason,
„ ‘T*•, r r ™ imrdtase of $34,000 of 9 per cent street
s’,'.,£ 0 f sT'fon , V, , , ! >0 w -cur,tle» wifi bo o f th e den om in son the flr«‘ rf * ” * i t ’ *n*erf,<* w ' “ h* payable sem i annually
r-. -<«nre *V
. VnwZt • u y ®n'1 lh*f,Principal will
«V„«, t,.|_ « 'fi. 'j
^ ,•* *he rate of $2,800 per annum
y 'j
7 : , * f ’*'•mHudve, and $1,5<W on July 1,1907.
i. ,
.
!, y *"*”
'•onsider.-d and each! proposal
"
»oc'iin;i*med by a certified check for $590.
Atlanta ,fc On., Boston, Mass
............ ...
Geo, A. Fornalfl &. Co., Boston, M ass........
Plots, Denison A P dor, Boston, Maas ___
Cushman, FtaherA Phelps. Boston, Muss
belMUl, Towp, A Co,, Boater - M ass,..........
H. 8. Homer A Co.. Boston, M ass..............
Kata brook A Co., Boston, Maas ................
Parkinson A Burr, Boston. Mass .. . . . .
Parson, Beach A C o„ Now York, N Y ___
-I *a W. DoBkstrees A Co,, Boston, Maas ..
E. H. Gay A Co., Boston, M a s s ................
D, TV, Howland, Boston, M ass.................
...1 0 3 6760
...1 0 3 6130
...103*5710
...1 0 3 -5 1 7 0
...1 0 3 -4 5 0 0
...1 0 3 -1 3 6 0
...1 0 3 -4 2 9 0
...1 0 3 -4 1 2 0
. . 103-3110
...1 0 3 -2 7 5 0
...1 03-0200
...1 0 2 -9 7 5 0
102-344
102-502
101-750
102-3-10
102-235
102-138
103-429
102-O73
103-341
102-363
101*360
102-025-
Botb issues were awarded to E. H, Rollins & Sons, The
securities are dated May 15, 1897; interest is payable semi-
May 15, 1897.]
THE
C H R O N IC L E .
an n u a lly on the fifteenth days o f M ay and N ovem ber, and the
principal o f each issue w ill m ature as the rate o f $10,000 per
a n n u m , b egin n in g w ith M ay 15, 1898. B oth prin cip al and
interest w ill be payable at th e N ational B ank o f R edem ption
o f B oston . Mass, These loans areissued in the fo r m o f cou p on
bonds o f $1,000 each , or, if desired, the sch ool b on d s are is
sued in the form o f registered certificates o f $1,000, $5,000 or
$10,000 and the w ater bonds in the fo r m o f registered certifi
cates o f $1,000 o r $5,000,
P la in fie ld , C on n ,—Bond Offering.— Proposals w ill be re!
c e iv e d u n t il 4 o ’ clo ck P. M., Ju n e 1, 1897, b y S. L . A dam s,
T o w n Treasurer, Central V illa g e, C on n ., fo r th e pu rch ase of
$25,000 o f 4 per ce n t h ig h w a y -im p rov em en t bonds.
The
securities w ill be o f th e den om in ation o f $500 each , dated
M ay 1, 1896; interest w ill be p ayable sem i-ann ually on the
first days o f M ay and N ovem b er a n d the prin cip al w ill mature
at the rate o f $5,000 e v e ry five years from M ay 1, 1906 to 19'26|
in clu siv e . N o bid fo r less than par and a ccru ed interest will
b e con sidered and each proposal m ust be a ccom p a n ied b y a
certified ch eck fo r 2 per cen t o f the a m ou n t b id fo r . This
loan is secured b y a sinkin g fu n d and is p a rt o f an authorized
issue o f $30,000, th e rem ainder, $5,000, h a v in g been sold in
D ecem ber, 1896.
The official notice of this bond offering, containing a state
ment of the town’s financial condition at the present time,
will be found among the advertisements elsewhere in this
Department.
P o r ts m o u th , V a .— Bond Offering— Proposals w ill be re
ce iv e d u ntil 6 o ’clo c k P. M., M ay 24. 1897, by E. Thom pson"
J r ., C ity Clerk, fo r the pu rch ase o f $10,000 o f 5 per cen t pa v
in g and g ra d in g bonds. Interest on the securities w ill be
payable sem i-annually, and the principal w ill m ature A pril 1.
1907. The loan w ill be free from taxation and w ill be issued
in the form o f co u p o n bonds o f $100 and $500 w ith th e priv
ilege o f th e registration o f prin cip al and interest or principal
o n ly , as the purchaser m a y desire.
P o u g h k e e p s ie , N. T .—Bond Sale.—In A p r il, 1897, refu n d
in g bonds to the a m ou n t o f $20,000 w ere sold b y the F inance
C om m ittee o f Poughkeepsie. The securities bear in 'erest at
th e rate o f 3J^ per cen t and m ature in from one to tw en ty
years fro m date o f issue.
P r o v id e n c e , R . I .—Bond Issue.— T he B oa rd o f A lderm en
o f P rovid en ce has passed an ord in a n ce p rovid in g for the sale
o f $640,000 o f p u b lic-im p rovem en t bonds and $674,010 o f park
bonds to th e S in k in g F u n d Com m issioners.
P u tn a m , F la .—Bonds Proposed. —T he city o f Pu tn am p r o
poses to issue bonds to pa y the cost o f con stru ctin g w ater
w orks.
Q u een sb u ry (N. T .) U n io n F r e e S c h o o l D is tr ic t N o. 1.—
Bond Sale.— S ch ool bonds o f this district to the am ou nt o f
$24,000, bearing 5 per cen t interest, h ave been aw arded to W .
J . H ayes & Sons at 105'8875.
Q a in c y , M ass .— Bond Sale. — The $120,000 o f Q u in cy sew er
bonds w ere aw arded to Farson, L^ach & Co. o f N ew Y o r k
C ity at 108 555. The other bids receiv ed w ere :
Rudolph Klevbolte A Co.. Wow York, N. Y ................................106 539
R. L. Day A Co., Co.. Beaton, Maas ........................................ 106-429
Estabrook A Co., Boston, Mass ................................................ 106-377
H. 8. Homer A Co., Boston, Mass.............................................. 106-367
Jas. W. Lonestreet A Co.. Boston, Mass ..................................106 32 >
E. H. Rollins A Sons.. Boston, Mass........................................... 106*279
Adams & Co.. Boston. Mass...................................................
106*190
Leland. Towle A Co., Boston, Mass. . . . . . . . . . . . . . _______ ______ 106-153
N. W. Harris A Co.. Boston, M a ss.............................................106-150
Dietz. Denison A Co . Boston. Mass........................................... 106 077
Lee, Hlggtnson Co., Boston. Mass......................................... 106- >70
Blodget, Merri't A Co., Boston, Mass......................................... 106-060
Jose Parker * Co., Boston. Mass ...............................................106-0125
Cushman, Fisher A Phelps, Boston. Mass...................... ......... 105*953
Geo. A. Fernald A Co., Boston, Mass ...................................... 105-810
Tower, Biddings <k Co., Boston, Mass....................................... 105-791
Third National Bank, Boston, M ass......................................... 105-550
D. W. Howland, Boston. Mass ..................................... ..............105-450
E. C. Stanwood * Co., Boat in, Mass........ ........................... ....... 1O5-000
Blake Bros, at Co., Boston, Mass..................... ......... ...............101-3 L0
The securities are o f th e den om in ation T $1,009 eac i. riat-d
M a y 1, 1897; interest at the rate o f 4 per cen t is p a y a ole Be n iann ually on the first days o f May and N ovem ber, and the
principal w ill mature at the rate o f $3,000 each year, begin
n in g w ith M ay 1, 1898. B oth prin cip a l and interest are
payable at the N ational B ank o f the C om m on w ea lth o f
B oston, Mass.
R e m in g to n , Inrt.— Bond Offering.— Proposals will be re
ceived until 12 o 'c lo c k n oon Ju n e 1, 1897. bv Ira W Y eom a n ,
T ow n Treasurer, fo r the purchase o f $8,000 o f 6 per cen t
w a 'er-w ork s bonds. The securities w ill be o f the d en om in a
tion o f $500 each, dated Ju n e 1, 1897; interest w ill bs payable
sem i-annually and the principal w ill m ature as f o llo w s :
$3,000 on June 1,1902 , $2,000 on June 1,1904, $2,000 on June
I, 1906, and $1,000 on J u n e 1, 19S7.
R ich m o n d C ou n ty, N. Y .— Bond News.— A report has been
cu rrent to the effect that the bankers w h o purchased the
$202,000 o f road bonds o f R ich m on d C ou n ty recently issued
h ave declined to accep t them . Messrs. E. D. Snepard & C o.,
the firm to w h om the bonds w ere aw arded, in form us that
th ey h ave not refused to take the securities, but that their
cou n sel has raised an ob je ctio n to the fo rm in w h ich the
■bonds w ere issued and that the authorities have a cco rd in g ly
969
been requ ested to m a ke the n ecessary ch a n ge.
This it is e x
p ected w ill be prom p tly d on e.
R o c o e (O h io) U n io n S c h o o l D is t r ic t .— Bonds Unsold.—
The $1,500 o f 6 per cen t 1-3-year sch ool bonds o f this district,
bids fo r w h ich w ere opened on M ay 8, 1897, w ere n o t so ld ,
opposed to buildin g the sch ool house h av in g procu red parties
an in ju n ctio n to prevent the sale. The case w ill be b rou gh t
up before the cou rt n ex t w eek.
St. J o s e p h , M o.— Bond Renewal.— N otice has been g iv en
that the bonds o f the c ity o f St. Joseph d o w ou tstan din g and
bearing 6 per cen t interest, issued u nder an ord in a n ce a p
proved M arch 16, 1883, have been called fo r p a ym en t on
A u gu st 1, 1897, after w h ich date the securities w ill cease to
bear interest. P rivilege is g iven to the holders o f these bonds
to ex ch a n ge their securities at a n y tim e on or b efore June 19,
1897, fo r n ew 4 per cen t 20-year bonds, issued to red eem the
bonds called for paym ent. The n ew loan w ill be dated A u gu st
1. 1897; interest will be payable sem i-an n u ally at the N ational
B ank o f C om m erce o f N ew Y o r k C ity, w here the prin cip al
also w ill be payable.
Proposals are asked fo r the purchase o f that portion o f the
renew al bonds w h ich have n ot been ex ch a n g ed for th e 6 per
cen t bonds on or before Jun e 19, 1897, as p rov id ed fo r above.
Such bids should be addressed to “ The M ayor, C om ptroller,
C ity C ounselor and Chairm an o f the F in a n ce C om m ittee o f
the C om m on C ou n cil o f th e c ity o f St. Joseph , M is
souri” , to be deposited w ith the N ational B ank o f C om m erce
o f N ew Y o r k C ity before 12 o ’ clo c k n oon J u ly 15, 1897. N o
bid for less than par w ill be con sidered, and ea ch proposal
m ust be accom pa n ied b y a certified ch eck fo r a t least 10 per
cer t o f the bid. B idders h ave the privilege o f payin g fo r
these 4 per cen t bonds w h olly or in part w ith th e 6 per cen t
bonds at par.
S a yre, P a.—Temporary Loan.— On A pril 23, 1897, this
b orou gh n egotiated a loan o f $1,000 w ith the Sayre B a n k in g
C om pany, and on M ay 4. 1897, a loa n o f $500. B oth issues
bear interest at the rate o f 6 per cen t and m ature Septem ber
1,1897.
S e v ie r C on n ty , U tah .— Bond Sale.— The $4,300 o f Sevier
C ou nty tw en ty year refu n d in g bonds were sold to the State
Board o f Land Com m issioners o f U tah at their bid o f par for
the bonds bearing 5 per cen t interest. The other bids received
were :
Duke M. Farson. Chicago, 111.......... ................................................... $4,313
8. A. Kean, Cliioago, III.................................. ....................................... 4,300
B oth o f the above bids w ere m ade on the basis o f the bonds
bearing 6 per cen t interest.
S h erm a n , T e x a s .— Bonds Proposed.— A n ordinan ce p ro v id
in g fo r an issue o f $10,000 o f street-im provem en t bonds has
been pre=ented to the C ity C ou n cil o f Sherm an.
S ilv e r C reek , N. Y .—Bond Sale.— On M ay 12, 1897, the
B oord o f E d u ca tion o f S ilver Creek sold $8,850 o f sch ool
bonds to the C ity B ank o f B u ffalo for $8,975, The securities
bear interest at the rate o f 4 % Per cen t, payable sem i-annu
a lly and m ature at the rate o f $885 a n n u a lly .
S o m e r v ille , T e n n .— Bonds Proposed.— W a ter-w ork s and
electric-ligh t bonds o f this c ity to the a m ou n t o f $10,000 are
under consideration.
S o u th in g to n , C o n n .— Bond Sale.— On M ay 12, 1897, the
$90,000 o f 4 per cen t bonds o f the to w n o f Sou th in gton w ere
aw arded to H . C. W a rren & C o., o f N ew H iv e n , Conn , at
105 127. T in oth er bids received were :
10-year 20-year 30-year Entire
B id d ers.
ba n d s.
t on d s.
b o n d s.
issue.
L .K . Curtis................................... 102 „00 104-250 105-500
tSonthport Savings B ank............................ 10 5 30 < .............................
N. W. Harris A C o ......................... 102-079 104-059 1 5-229 ............
E. H. Gay A Co............................................................................ . . . 104-730
Savings Bank o f Now L on d on .................... 10i*5u0 101-500
.......
Southlogton Savings Bank........ 102-000 103-500 104 400
Dietz. Denison & Prior .................................................................... 1 0 4 -3 2 3
N orwich Savings Bank................. ............
.............................. 1 0 4 -2 3 0
E. C. Stanwood & C o.................... 102-000 103-000 104-000
Street, Wykes & C o.............................. ....................................... 1 0 3 * 5 3 0
Dime Havings B a n k .......................... ......... 103-500
1 0 3 -3 3 7
C. H. White & C o..........................................
1 0 3 -1 9 0
Columbia Trust C o .......................................
1 0 3 -0 7 5
Farson, Leach & Oo....... ............................ .
1 0 3 -0 6 0
F. R. C ooley...................................................
102-659
E. H. Rollins & Sons ..................................
1 0 2 -3 9 5
cushm an, Fisher & P h e lp s .................... ..
series.
i F o r $ 5 ,0 0 0 .
The securities are o f the den om in ation o f $1,000 each, dated
J u ly 1, 1897; interest is payable sem i-annually on the first
days o f Janu ary and J u ly at the Southington N ational Bank,
and the principal w ill mature at the ra le o f $30,000 every ten
years from J u ly 1, 1907 to 1927, inclusive.
This lo in is issued for th e purpose o f fu n d in g the present
indebtedness o f Sou th ington , and constitutes the on ly indebt
edness o f the tow n .
S to c k to n , N. J .—Bonds Authorized.—G eneral im provem en t
bonds to the am ou nt o f $10,000 have been authorized by the
T ow n C ouncil.
S yracu se, N. Y.— Bond Offering.— Proposals w ill be received
until 3 o’ clo ck P. M ., M ay 17, 1897, by E F. A llen , City Treas
urer, for the purchase o f $100,000 o f 3>^ per cen t w ater bonds.
T he securities w ill be o f the denom ination o f $5,000 each,
dated M ay 1, 1897; interest w ill be payable sem i-annually on
the first days o f Janu ary and July at the office o f the M etro
politan Trust C om pany o f N ew Y ork C ity, and the principal
w ill m ature Janu ary 1, 1927. N o bid fo r less than par and
accru ed interest w ill be con sidered.
* $ 1 0 ,0 0 0 e a c h
THE
970
C H R O N IC L E
7 hr t
Uoodcn) del»t o f th e c i t y o f S y ra cu s e a m o u n t
to « » ' ? • . o f w h ich
364.500 are g e n e r a l c i t y b o n d s a n d
!'7 o ‘U sj<* I*.cal
b o n d s, T h e assessed v a lu a t io n
tm
H: r ^ l .
$63,324 53 0; p e rso n a l p r o p e r ty , $3 ,391 ,5 1 :; t&ta1, $00,? 16,343 The v a lu e o f re a l e sta te is e stim a te d
at I v o .w o .n fv ; the p a p u la tio n b e stim a te d a t 120,000.
7r ?•*}s- ,5“ r y I .m , — T h e c it y o f S y r a c u s e has p la ce d a tern*
$100,000 w it h th e K n ic k e r b o c k e r T ru st C o m p m j f o f N ew Y o r k C ity .
T'anttl ■:»*!»
.Safe.-—T h e f d l l o ^ i o g is a c o m p le t e
hst >4 tie- tads ri*c«*»v« it fo r th e $1 *,003 o f 4 p er c e n t 9J^*year
kitl& w ay t jo iid j o f its** c ity o f T a u n to n ,
f: f! li <Ut»* k So a#, ft.•>***»*>. M a o , . . , ..,,* * * .* ,.»* .**.*-,..101*160
tdf#, itucviuseni M 1N» , lloat-oifi*Mas*
10-1*050
i * k k ? M o r n t t A *T*„ Bojttett, Mte*-*-.«**•**■*,«■»*• .*.*• .......1 0 4 * 0 2 0
Rrv**,. ,i- Ca.,tt*Mf«n,Ma*!s......... .
. . . . . . . . . . ............ .103*833
IL L iu y Sc Co.* Bo*ton. Ms** ... .............................................403*828
!'k*fc0»aij ,4 Prior, 11 j*um, Ma»s.
. . . . . . . . . . . . . . 103*791
A4-*m* A i'o „ UhiIob ,
. . . . . . . . . ... . . . . . . . . . . . , . 1 0 3 * 7 8 0
F*r*on, U>*cluitOa,, New York. N. Y ,. . . . . . . . . . . . . . . . . . . . . . . . 103*775
:, Tow Ip 4 Co.. Baatflm, MA«*.. . . ............. . . . . . . . . . . . . . . 103*708
. .........
..... . . .
i 0 3*1 20
ilw . A., Ferri*3& SCU * Bo* ton, Muss, ..................................... . . p ' 3 ‘710
Eata&bcmlt& €*>*, Jkmtoa, Mate . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103*673
J»s. w. fsUHriirwt A- Co., Boston, Mass ............................. .
103*618
W. s , tl*tc*-s A Sow*. Boston. Mass
.........1 0 3 * 6 0 0
Jo## P a rk e r# Co,, BnatOQ, Mass . ............................................103*415
Horace 8. Hamer b Co., Boston, Mat®.. . . . . . . . . . . . . . . . . . . . . . . . 1 0 3 * 4 0 7
Tam©tor’ Savings Bank, Taunton, M ass........ ........................1 0 3 300
Mason. L - « i . a Co., Chic u*o, III.. . . . . . . . . ..............................1 0 3 *2 7 0
D. W How'a ad. Boston. Mass .. . ........................ . . . . . . . . . . . . , '1 0 3 * 2 5 0
E. C. StanwtMHl 4, Go.. Boston, Mass.......... ...................... ........... 103 200
Third Vat ion ill Bank. Host >n. M ass.......... .............................1 0 3 * 1 5 0
N w . H am s 4 Co., Boston, Mass............ .......................... ....... 103*0625
A sd 86 prsamlutn*
T h e se cu ritie s w e r e a w a r d e d
th e ir b id o f 1M -166.
to E . H . R o l i i m
&
S o n s at
T iv e r t o n , It. I .— B o n d s A u t h o r iz e d . — F u n d i n g b o n d s to th e
a m o u n t o f $20,000 h a v e b e e n a u th o riz e d .
T r o p ic a ( f 'a l .) S c h o o l D i s t r i c t , — B o n d S a le. — T h is d is tr ic t
ha* lodd *S,t 00 o f 7 p er c - n t s c h o o l b o n d s. T h e s e c u r it ie s are
o f th e d e n o m in a tio n o f $100 e a c h ; in te re st is p a y a b le a t the
office o f th e C o u n ty T re a su re r o f L o s A n g e le s C o u n ty .
W a s h i n g t o n , P a .— B o n d O ffer in g .— P r o p o s a ls w ill b e r e
c e iv e d b y th e fin a n c e c o m m itt e e o f th e B o r o u g h C o u n c il,
G en , J o h n I l a l l , C h iir m tn , u n til 13 o ’c l o c k n o i d , J u n e 7
N E W
L O A N S .
is t :jo o ,o o o
NEW ARK, NEW
JERSEY,
NEW
$
1
5
[Yol. LXTV•
11897, for the purchase of 860,000 of street improvement bonds
of this borough. The s-cumies are coupon bonds of the de
nomination of S500. Tbev will be dated July 1, 1897, interest
at the rate of 4 per cent will be payable at the office of the
Borough Treasurer on the first days of April and October in
each year, and toe principal will mamre, pirt yearly, on
October 1. from 1898 to 1910 fnclu-ive. Each proposal must
be accompanied by a certified check f>r 5 per c-nt of the
amount bid. The present bonded debt of the norough is
8129,700 and the latest assessed valuation was §8,039,577.
Waterford (N. Y.) Onion Free School District No, 1.—
B on d S ale. —The §30,000 of I per cent school bonds of tiiis
district were awarded to O. II. White & Co. 8f New York
City at 105-25, The securities are of the denomination of
81,000 each, dated May l, 1807; i meres' is payable semi
annually on the first days of May and November, and the
principal will mature at the rate of $1,000 per annum from
May 1, 1913 to 1981, inclusive. Both principal and interest
are payable at the Garfield National Bank of New York City,
Wanseon, Ohio.— B on d O ffering .— Proposals will be re
ceived until 13 o’olock noon, June 7. 1897. by W . 8. Brigham
Village Clerk, for the purchase of §23,000 of 6 per cent water
works bonds. The securities will be of the denomination of
$1,000 each; interest will be payable annually on the first day
of September and the principal will mature at the rate of
§1,000 per annum, beginning with September 1, 1903, No bid
for less than par and accrued interest will be considered and
each proposal must be accompanied by a certified check for
$500.
West Alexandria, Ohio.— Bond O fferin g .—Proposals wi
be received until June 1,1897, bvthe city of West Alexandria
for the purchase of water-works bonds to the amount of
§16,000. The securities will bear interest at the rate of 5 par
cent.
Westmoreland County, P a.—Bond Sale .— The “ New York
News Bureau” repor: s that Dick Bros. & Co. of Philadelphia
have been awarded $15,000 of 5 per cent o-20-year bonds of
Westmoreland County at a premium of $691 50.
There were
nine other bidders.
Wildwood, N. J .— B on d S ale .— The town of Wildwood has
sold $10,00 of 6 per cent 5 20 year improvement bonds to local
LOANS.
0
, 0
0
N E W
$
0
INDIANAPOLIS, IND.
TOW N
2
L O A N S ,
5
OF
, 0
0
0
P L A IN F IE L D ,
W I N D H A M C O U N T Y , C O N N .,
P u b l i c S a fe ty B o n d s o f 1 8 9 7 .
F O U R
F ree
P E R
P u b lic
C E N T
L ib ra ry
B o n d s .
New .a r e , x . j.. May 3d, 18&7.
h J€»m & Groitoaf, Comptroller o f the City o f
Newark* New Jet**/* will receive until Wt*&n«s§(iay,
JiiAy
I##7, at 4 o'clock 1\ M., sealed bids for an
***** *4 thirty-year 4 per coat registered bond® in
tb* mm. of
$ 3 0 0 ,0 0 0 ,
bVijSS? OU
Bof bond* in ithat amount authorized
by mw for :the eonttruetlm iR the Free Public
ijpmrf-,: »rhteh hond* will be fcpitied In denorainalion of f i.ow cach. nuu uj b©<ti|xiaod Wednesday,
mMf m. im ft mt i -if* p. ’ll. iKach bidder to mate in
writing the Sihrhcat amoutst ai wbieli ho will parCfefts# ftm wfei
>t any part o f *rsld iwrae o f $JbK>,000.
Bund* 1•«? be dai«rd Jane i ,
h exempt from tax.
and mu
saya■Me
-annuaBy. Bid* to be ac44 b ]f m cert ified eheck for 5 per cent of
bm t<yt. The ligh t:to re.loci any and all bid*
rmmtrm.1, AIt bid* to be addrented to John 8,
pltntier. Newark. New Jersey, ana
wm'kmi **Bid tot Library Ihmil*,
Water 4
t ett*
. .... #7,757,000 90
' €Tt]
. .... .
6,018,000 00
Totei S-*crfUA3Um l debt,..
Am-mmi th
0 ittisd*,..,
......
2,784,852 i8
•».. .................
14O jm M t 12
AliteM m# Vikltmt *— •■’ **.*-■
1
00
rtf ttte water pimt for
........ *......... - .
#4SS,4fli go
-•is-.rary intent edti*** o f Newark I# repre-
7
loan bond® Itehed figalBst un»
lo t pavtt\m and rewers*
i■Be
**»■«>t* of the
f $m
mrmf ISittoiltit#*, o f jM
i». permaaen
Department
and *ii
thmwm *m. the t*4al water «]tebfc, The It
ptnAIrg fund
lie- ',000 o f Tax
to *4% fkHty wmi iff
&fifitaMfio
t^ at#. and ioiered and .tlbking fund
I33S-JWflt Mat#%ei htofid* an? pma (tom %
.
**# m
t, Th# om wm%%ivtlon in the
4eS*t mi ttm efff M lWM « a • ( t h j m 58.
<SmSUN. Comptroller,
tttwMto f» Qty Hall,
Newark. K, J,
Department of Finance .
Office of the Cit y comptroller .
[
I ndianapolis . I nd . j
Sealed bids will be received by the city of Indian,
npolis, Indiana, until Thursday, the twenty-seventh
day of May, 1867, at 12 o'clock M. for the whole ox
any part o f S t 5 0 .0 0 0 Indianapolis Public Safety
Bonds o f 1897 o f said City* Said bonds will be des
ignated "Indianapolis Public Safety Bonds o f 1897’';
will be dated dune 1,1897, and be of the denomina
tion o f $1,000 each, with Interest coupons attached;
will bear interest at the rate o f four (i) per cent per
annum, payable semi-annually on the first day of
January and the first day o f July o f each year. The
first coupon on each bond to be for one month's in
terest only, or from June 1st to July 1st. 1897. The
principal is payable on January 1. 1927, and both
principal and interest are payable at the bankinghouse of Winslow, Lanier & Company. New York
City. Bid* for the purchase of said bonds should be
endorsed "Proposal* for Indianapolis Public Safety
Bond*", and directed to the City Comptroller,
Indianapolis, Indiana- Bidders may bid for all or
any part o f said bonds.
The proposals will be opened by the City Comptrol
ler. nt hl« office, on the 27th day o f May, 1897,
between the hour* of 12 o’clockM , and 2 o'clock
P M„ and said Comptroller will thereupon award
•-nitl bond*, or, if ho shall see fit, a part or any number
thereof, to the highest and best bidder therefor,
but wdd Comptroller shall have the full right to
reject any and all bids, or proposals, or any part
thereof, and shall have the right to accept a part of
any bid, and to award upon any bid the whole or any
tef ” number o f bonds covered by such bid, ho being
thi’ H.lc Jttflge of the sufficiency or insufficiency of
n«Y nut, ex.--Doling only that no bond shall be sold at
IT* 5r?n lKir ttBtl accrued interest. He may also in
lu« judgment and discretion award a part o f said
tone* H. one bidder and a part to another.
Ln.eb bid shall be accompanied by a certified check
reaponidbie bank of the city of Indian£ :,/f3!r•Jndjann-. w a h le i<> the order of W illiam IT.
iv r.-;<1***'} ny fe asurer, for a sum of money equal
ffkfi per cent of the face or par
’
f or or proposed to be purawarded Will be delivered at the
,.: ‘ kH kv Jni“.-’ " iIls!nw- Lanier & Company in the
*
W ,k,? n tho u'th
of *Jun<3> im7>»»id
t '
WJder or bidders shall take the bonds
: and bis or tbetr omission,
^ t or jrDrjnal so to do shall be a breach of the
or i,r«pc*al, on account of which
t
r jtnsn/."^ t,r recovered as liquidated
aIL pow bied in the ordinance covering this issue.
f" r mU‘ wnder and by virtue
rvJfJSS. *S Hrditiaaee No. U, 1897, passed by the
the M ^ o f May, 1897, and
approved by the Mayor on the 'tli day o f May, 1897,
E. M. JOHNSON,
City Comptroller.
A
PER
C E N T
B O N D S.
PLAINFIELD. May 4th, 1897.
Sealed proposals will be received until l P. M.
Tuesday, June 1st, 1897, for the purchase o f
$*<£5,000 of Town of Plainfield four per cent bonds,
or any part thereof, at which time, at the Town
Treasurer’s Office, at Central Village, Conn., the
said bids will be publicly opened and read.
These bonds will be issued in coupon bonds of five
hundred dollars (-$5001 each, dated May 1st, 1896,
$5,000 of which will become due May 1st, 1906, $5,000
May 1st, 1911, $5,000 May 1st, 1916, $5,000 May 1st,
1921, and the remaining $5,000 May 1st, 1926, with
interest at the rate of four per cent per annum, pay
able semi-annually on the first days of May and
November in each year from May 1st, 1897.
These bonds are issued under and in pursuance o f
and in full conformity with the laws o f the State of
Connecticut and a vote o f said town passed at a
meeting legally warned and held on the llth day of
April, 1896, for the purpose of making permanent
improvements on the main highways of the- town.
Proposals less than par and accrued interest will
not bo considered, and the Committee reserve the
right to reject any and all bids. Proposals must be
endorsed " Proposals for Bonds,f, and addressed to
S. L. ADAMS, Town Treasurer, Central Village^
Conn., and must state whether for the whole or a
part, and if a part for which issue and the amount
bid for. Each bid must be accompanied with a cer
tified check on a National Bank for two per cent of
the total amount o f bonds bid for, payable to the
Town Treasurer.
The assessed valuation of real estate and personal
property made for taxes by the Town Assessor Oct.
1st, 1896, was f 1,950,947, and the annual town tax
laid for some years past has not exceeded ten mills.
The financial standing of the Town Aug. 31st, 1896,
a* taken from the report o f the Town Treasurer,
gives an Indebtedness of $13.80410, against which
the Town owns property (personal and real estate)
to the amount of $19,140 51; the only bonded debt
being this issue of $30,000 authorized by vote of the
Town April llth , 1806, $5,000 of which was sold Dee
2d, 1896, leaving the remaining $25,000 to be sold
June 1st, 1897, as noted above. By vote o f Town
passed April llth , 1898, the Selectmen and Town
Treasurer must provide a sin king fund sufficient to
pay said bonds at their maturity.
HEN BY C. STAKE WEATHER, j
WILLIAM H. KENYON,
A B. SPRAGUE,
' Committee-.
SESSIONS I*. ADAMS,
J, A. ATWOOD,
THE
May 15, 1897.J
C H R O N IC L E .
Marysville, Cal.—W . J. Ellis, Mayor.— The following report
of the financial condition of the city of Marysville has been
corrected up to April 12, 1897, by means of a special report to
the C h r o n i c l e :
Marvsville is the County seat of Yuba County.
parties at par. Interest on the securities is payable semi-an
nually at the Tradesman’s Bank of Vineland, N, J.
WilmingtOD, D e l.— B on d s A u th o riz ed .—The State Legis
lature has authorized the city of Wilmington to issue $15,000
of bonds for a n ew crematory.
Wyandot County, Ohio.— B on d O fferin g.— Proposa's will
be received until May 19, 1897, by T. W . Parker, County
Audit r, for the purchase of $125,000 of 6 per cent court
house bonds.
Youngstown, Ohio.— B on d O ffering —Proposals will be re
ceived until 2 o’clock P. M , May 31, 1897, by F. C. Brown,
City Clerk, for the purchase of $3,200 of 5 per cent streetimprovement bonds; interest on the securities will be payable
semi-annually and the principal will mature as follows: $1,000
on October 1, 1898; $1,000 on October 1, 1899, and $1,200 on
October 1, 1900. Both principal and interest will be payable
at the office of the City Treasurer of Youngstown.
LOANS—
*L evee B onds—
D ra in a g e B onds —
os, g., N ov., $36,000, g . 1897-1905
($4,000 due y early on Nov. 1.)
nterest is p ayable at M arysville.
* H eld b y M arysville City Library.
LOANS—
, 0
0
W hen D ue.
F ir e and S e w e r B onds -
$9,600 yearly on Feb. 1.
L ib r a r y B onds 78, F eb., $ 5 ,5 2 5 .........1898 to 1910
$425 yearly on Feb. 1.
Interest payable at c ity treasury.
Bonded debt Mar. 1 ,’97. $111,125
Floating d eb t...................
4,000
Total d ebt.......................... 115,125
LOANS—
B ridge B onds -
HI GH
C ounty,
6 PER C E N T
M ont.,
BONDS.
Sealed proposals w ill b e r e c e iv e d a t th e office o f
the C ou nty Clerk o f C h oteau C ou nty, M ontana, at
F ort B en ton , th e c o u n ty sea t o f said co u n ty , u p to
n oon o f M onday, J u n e 7th, 18i>7, f o r th e purchase o
§ 9 2 , 0 0 0 cou p on bon d o f said co u n ty , said bon d s
t o draw in terest a t th e ra te o f six per ce n t per
annum , payable sem i-an n u ally, in Jan u ary and Ju ly
o f each year, red eem a b le in fifteen and payable In
tw e n ty years a fte r d a te o f issue. Said bo n d s are
issu ed fo r th e pu rpose o f con v e rtin g ou tstanding
w arrants and redeem in g oth er bonds o f said co u n ty
n ow due and payable. Said new bon d s will be Issued
in den om in ation s o f $1,000 each, an d bids w ill be
rec e iv e d f o r the w h ole o r an y part o f th e a foresaid
am ount. P roposals m ust be en dorsed ** Proposals
f o r B on d s” , and add ressed t o E . Frank Sayre,
C ou nty Clerk. F ort B en ton , M ontana. T h e right to
r e je c t any o r all bids is reserved .
B y o r d e r Board C ou n ty C om m issioners.
E. F R A N K S A Y R E . C ounty Clerk
B
O
W hen D ue.
GRADE
N
D
S
.
Rudolph Kleybolte & Co,,
B A N K E R S,
N. W. Cor. 3d & Walnut Sts.,
Cincinnati, Ohio.
11 and 43 Wall St. and
47 Exchange Place, N. Y. City.
LISTS MAILED UPON APPLICATION.
City of Boston, Mass., Reg......................3^
City ol Cleveland, Ohio, Coup, or Reg...4s
City of Biughampton,N.Y.,Coup. or Reg.4s
City of New Bedford, Mass., Reg............. 4s
Middlesex County, Mass.* Coup...............4s
A fu ll de scrip tio n o f eith er o f these issu es, w ith
prices, w ill be m ailed o n app lication.
E. H . R O L L I N S & S O N S ,
19 MILK STREET.
BOSTON................................................MASS
A D A M S
&
C O M P A N Y ,
BANKERS,
NEW LOAN
D E A L E R S IN
*
$
1
3
0
,
0
0
0
IN V E ST M E N T BONDS,
CITY OF
M em bers o f B oston Stock E x ch a n ge .
Q U I N C Y ,
M A S S .,
4 s .
No. 7 Congress and 31 State Streets,
PRICE OX APPLICATION.
Territory of New Mexico 5s,
Farson,
Issued u n d er and c on trolled b y a ct o f th e U nited
States C ongress.
P op u la tion , 200,000. A ssessed
value.
2. D ebt less than 3 per cen t. W e
regard equally stron g as bon d s o f th e G overn m en t.
CHICAGO.
115 Dearborn St.
Leach
&
BOSTON .
C o .,
NEW YORK,
2 Wall St
I)UK 10-20 AND 20-30 YEARS.
N.
W .
E d w a r d
C . J o n e s
M A S O N , L E W I S <& C O .,
BANKERS,
BOSTON: Worthington Bldg.* 31 State St.
HAVE REMOVED TO
_____________ CHICAGO: 171 La Salle St.
1
N A S S A U
H A R R I S
&
C O .,
B A N K E R S ,
P ric e an d particulars upon application.
B on d s
W a t e r W orks B onds 58, AAO, $90,000....... A pr. 1 ,1 9 0 5
I N V E S T M E N T S . ________
Legal In vestm en ts f o r 8avtngs Banks in N ew Y ork
and A ll N ew E ngland.
$ 1 5 5 ,0 0 0
In v estm en t
T ax valuation, p ersonal. 717,754
Total valuation 1896-7.. 8,289,449
Assessment abt. 65% actual value.
City tax rate (per $ 1 ,0 0 0 )..$ 1 0 00
Population in 1890 w a s......... 4,882
Populatiou in 1880 w a s......... 391
Population in 1897 (est.)___ 11,000
R efund ’ d M u n icipal B onds —
W ater debt (in clu ded )...
90,000
5s, MAS. $ 2 5 ,0 0 0 ....Sept. 13, 1906 T ax valuation, real.........2,661,050
($5,000 due y ’rly) to Sept. 18 ,191 0 T ax valuation, p erson al.1,140,150
School H ouse B onds —
Total valuation 1896___ 3,801,200
5s, MAS, $ 3 0 ,0 0 0 ....Sept. 18, 1900
Assessment is 23 aetual value.
($5,000 due j ’ rly) to Sept. 18 .190 5 Total tax (per $1,000)........... $25-81
Stre et I m provkm ' t B onds —
Populatiou in 1895 w as.......11,013
5s, MAS, $5 ,000....... Sept. 1 8 ,1 8 9 2 Population in 1890 w a s .......9.252
State, Municipal, County, S Jiool
C h o tea u
$16,145
98,980
58, MAS, $10,000.Sep. 18, ’ 98 & ’99 Total debt A pr. 1 ,1 8 9 7 .. $160,000
I N V E S T M E N T S .
0
Cash in treasury..............
Net debt Mar. 1 ,1 3 9 7 ....
Wausau, W ls.—E, J. Anderson, Mayor. The following
financial statement of Wausau has been corrected to April 1,
1897, by means of a special report to the C h r o n i c l e from
F. C. Kublmann, City Clerk.
Wausau is situated in Marathon County.
Bonded debt Dec. 1 , ’96.. $30,000 Assessment about % o f actual value
Floating debt...................
15,000 T a x rate (per $ 1 ,0 0 0 )..
$8-30
Total debt Dec. 1, 1896
45,000 P opulation in 1890 w as__ 30,536
Gravel road bonds(add'l)
60,000 F opu lationin 1897 (est.)___35,000
T ax valuation 18 96___11,651,055
2
$3 9,50 0
10,000
4 9 ,500
T a x valuation 18 96....... 1,8 00,0 00
Assessm ent % actual value.
T ax rate (per $ 1 ,0 0 0 )............. $4-39
P opu lation in 1890 was......... 3,991
P opulation in 1880 w as......... 4,321
59. Feb., $105,600. ...1 8 9 8 to 1908 T axvaiuation,real& im p.7,571,695
Clay County, Ind.— Thomas Phillips, Auditor. In the
debt statement of this county, published in the Aptil number
of our State and Cit y Supplement, the assetsed valuation
was given as $1,200,000 instead of $12,000,000, the approximate
amount, as reported to us. Since that date we have received
the exact figures for the valuation, which we give in the state
ment below.
County seat is Brazil.
§ 9
Bonded debt A pr! 1 2 /9 7
F loating d e b t...................
Pasadena, Cal.— Calvin Hartwell, Mayor. The follow
ing financial statement of the city of Pasadena has been
corrected to March 1,1897, by means of a special report to the
C h r o n i c l e from John McDjnaid, City T re a s u r e r .
Pasadena is in Los Angelos County.
We subjoin reports as to municipal debts received since
the last publication of our State and City Supplement.
8ome of these reports are wholly new and others cover items
of information additional to those given in tne S upplement
and of interest to investors.
L O A N S .
W hen Due.
8s, g., J&J, $3,500, g .A p r. 1, 1896 T otal debt Apr. 1 2 ,’ 9 7 ..
STATE AND CITY DEBT CHANGES.
N E W
971
C o .
(New York, Chicago, Boston),
31
N A S S A U
NEW
S T R E E T
S T R E E T ,
YORK.
FO R
(COR. WALL.)
N e w
Y o r k
a n d
L IS T S
SENT
S a v in g s
T r u s t e e s .
UPON
A P P L IC A T IO N
M E M B E R S O P BO STON A N D N E W Y O R K
STOCK E X C H A N G E S .
SA FE
L .
D A Y
So C O . ,
4 0 W a te r S treet, fio .t o n .
» N n .ea u S tr e e t. N ew Y o r k .
IN V E S T M E N T S .
BANKERS.
SE N D F O R U IS T
City and
R .
W. N. Coler & Co.,
B a n k s
C ou n ty
B onds.
DIETZ, DENISON & PRIOR,
3 3 C O N G R E SS S T R E E T , - B O ST O N ,
1 0 9 S u p e rio r S treet, C lev ela n d O.
M U N IC IP A L BONDS.
34
NASSAU STREET.
THE
9 7 2
C H R O N IC L E ,
1S50.
W H A X N & S O H L E S IN G E R
MUNICIPAL
BONDS.
■J W A L L
M
-T U K K T ,
SEW
&
B l a n c h a r d ,
il l s
YORK,
BANKERS.
M U N IC IP A L BONDS
D e v o n s h ire B u ild in g ,
S tr e e t, B o s t o n , M a ss.
M U N ICIPAL
E .
C .
B O N D S.
S T A N W O O D
&
I S T I I E C I T Y OK KTSW Y O R K .
A ll p o licie s n o w Issued b r th is C om pany
con tain ilie fo llo w in g c la u s e s :
“ A ft e r on e yeuv from th e d ate o l issu e,
the lia b ilit y o f the C om pany u n der this
p o licy sh a ll n o t be d isp u ted .”
” T h is p o licy contaiua no r e s tr ic tio n
w h a te v e r upon the in su red , in resp ect
e ith e r o f t r a v e l, resid en ce o r o c cu p a tio n .”
A ll D eath C laim s p a id W IT H O U T D I S .
COU N T as soon as s a tis fa cto r y p ro o fs h a v e
been r e ce iv e d .
A c tiv e a n d Success f a l A g e n ts , w is h in g to
r e p r e s e n t th is C om p a n y, m a y c o m m u n i
cate w ith the P resid en t, at. the H o m e
Ojfice, S C I B roa d w a y, N ew Y o r k ,
C o .e
W IL L IA M T . S T A N D E N ....................................A ctu a ry
A R T H U R C. P E R R Y ........................................... Cashier
............ Medical Director
JOHN P. MUNN..........
PTN'ANCSCOMMITTEE:
GBO. G. WILLIAMS........... Pres. Chem. Nat. Bank
JOHN J. TUOKBR............
Builder
E. H. PERKINS. Ju., Pies. Imp. & Traders’ Nat. Bk
JAMBS K. PLUM..........................................Leather
BAN KERS,
121 D e v o n s h i r e
1897.
The United States Life
Insurance Co.
OFFICERS!
G E O R G E H . B U R F O R D ................ p res id en t
C. P. FRA LE1GH ...................................... Seerotary
A. WHEELWRIGHT................Assistant Secretary
BOUGHT AND SOLD.
16 S ta te
In su ra n ce,
p l i s c e U u b c c u s ,
I n n c s t m c n t s .
Haight
Street,
&
Freese,
_
P H IL A D E L P H IA , 4 0 2 W ALN U T ST ,
Stocks, Bonds, Grain, Cotton. Provisions
bought and sold for cash or on margin of 8 to a per
C IS T S SE N T UPON A P P L IC A T IO N .
W. J . Hayes & Sons,
BAN KERS,
DEALERS IN MUNICIPAL BONDS,
Street Railway Bonds,and other high-grade In
vestments.
BOSTON. MASS.,
C le v e la n d , O h io,
" Kxchaui* Place.
3 1 1 -3 1 3 S u p e r io r S t.
t -Jl.lt Address, "KB.X.XETU."
Blodget, Merritt & Co.,
“ M V e T r ^ S i ^ o V I n r - I 0 W A 8 8 SBCUrT T Y
MANUAL”, conceded bv Banks, the Press and
Boards o f Trade throughout the country to be the
most condensed and. statistically reliable pub
lication ever issued by any Banking House. Gives
range o f prices o f stocks, wheat and cotton for ten
to thirty years, enabling investors to operate on
their own judgment, based, on facts to be found in
the Manual, which is invaluable to business men
generally, enabling any one to invest money, keep
ing the principal intact and make it pay an income.;
ISSU E D GRATIS AND MAILED FREE,
D E T E R M IN IN G T H E F IN A N C IA L R E
S P O N S IB I L I T Y O F T H E F I R M W I T H
W H I C H YOU D E A L IS A S IM P O R T A N T
A S S E L E C T IN G T H E R I G H T S T O C K S .
New York, Boston and Philadelphia National Bank
U P T O W N O P F ICC K ^ L ^ | j | R O A D W A Y ,
BANKERS,
Street,
Boston.
B A Y R E R S ,
M O R T G A G E LO ANS
IN
TEXAS.
I n te r e s t 7 P e r C ent Net.
M> COMMISSIONS chanted borrower or lender
man loan* bare proven good,
18
W ALL
STREET,
NEW
YORK.
E sta b lish ed 1 8 6 5 .
MEMBERS OF NEW YORK STOCK 153CCHANG
Allow interest n deposits subject to sight check.
Buy and sell on commission stocks and bond* aither
for cash or on margin, and deal in
Investment -Securities.
H. .1. MORSE. CUAS. D. MARVIN. W. M. KtUTIER
F R Y X C I S S M I T H & C O .,
W M .
* A S A N T O N IO . T E X A S .
C. H. Van Buren & Co.,
F R A N K L IN
BOSTON, MASS.
Books audited. Examinations and investigations
conducted with the utmost care and efficiency.
Mailed Free.
I. Rosenfeld,
s e c u r it ie s
.
No. CG Broad n ay, New York.
B A N K
V A U LT S
F.
J.
C O N S U L T I N G
P ic a r d ,
E N G I N E E R
COLUM BU S,
O H IO .
E x a m i n a t i o n s an d R e p o r t s M a d e fo r
B a n k e r s and in v e s to r s o f R a i l r o a d , C o a l
Mi n i n g , Oi l a n d E le c t r ic P r o p e r tie s REFERENCES SENT.
Jos. O. Osgood,
M. AM. 800. C. IS.,
GENUINE
WKLTIED CHROME STEEL AND IRON
Mramd at
INSURANCE CO.
H e w Y o r k , January 21, 1897.
The Trustees, in conform ity with the Charter
o l the Com pany, subm it the follow in g state
ment o f its affairs on the 31st o f D ecem ber,
1896:
Premiums on M arine Risks front
®
1st January, 1890, to 31st De
cem ber, 1 8 9 6 - . . - . . . . . . . . . . . . . . $2,596,788.8
P r e m i u m s o n P olicies n o t
m arked off 1st January, 1896. 1,109,275.00
Total M arine Prem ium s.............. $3,706,063.89
Prem ium s m arked o ff from 1st
J anuary, 1896, to 31st Decem
ber, 1896..................................... $2,658,108.58
Losses paid during the
same p e r io d ....._____.$1,249,999.01
Returns o f Prem
ium s and E x pensos................$646,420.25
The Company has the follow Ing Assets, viz.:
United States an d C ity o f N ew
Y ork Stock: C ity Banks and
other S tocks............................... $7,226,305.00
Loans secured b y Stocks a n d
oth erw ise..... ...............- ........ .
1,930,000.00
Real E state and Claims due the
Company, estimated a t............
1,137,621.97
Prem ium Notes and Bills R e®
c e iv a b le .......................... - .........
843,596.96
Cash in B an k................................
175,229.25
Six per cent interest on the outstanding c e r
tificates o f profits w ill b e p a id to the holders
thereof, or their legal representatives, on and
after Tuesday, th e second o f F ebruary next.
The outstanding certificates o f the issue o f
1891 w ill be redeem ed and paid to the h old ers
thereof, or their legal representatives, on and
after Tuesday, the seoond o f February n ex t,
from w hich dato a ll Interest thereon w ill cease.
The certificates to b e produced at the time o f
paym ent, and canceled.
A dividend o f F orty per cen t is declared on
the not earned prem ium s o f the Company fo r
the year ending 31et D ecem ber, 1896, fo r which
certificates w ill be issued on and after Tues
day, the fourth o f M ay next.
B y order o f the Board.
J . H . C H A P M A N , S e c re ta r y .
g t ig it t c c r s .
H ig h -tir a d e W a r ra n t* a S p e cia lty .
Write for List.
SE C U R E
H A L L ,
A cc o u n ta n t
B A N K E R S AND B R O K E R S ,
62 BROADWAY, N E W YORK
8TOCESMONDS A1TO HIGH-GRADE
? h ; m ( i p ,i l
A T LA N TIC M UTUAL
A m o u n t - .- ......- - ___ .......$ 1 1 ,3 1 2 ,7 5 3 .1 8
SI'ATE CITY & KAILROAJ) BONDS.
E dw ard
OFFICE OF THE
new
B O S T O N .
16 C o n g r e s s
fVcjfc LXIV,
- is ^ndA-piv Plates had Angles
*-*>! SAKBS, VAULTS, *0.
Cw>,H fss rsM .i, to t nr Untied. and positive
B tnrior proof.
C H R O M E hT K K I. w o r k s ,
h ; ’ \VC.. K- ip A Hooper Sts.
DotoM m T
. th «C .S . B R O O K L Y N , N. 1
( 3 0 B R O A D W A Y , NEW Y O R K .
REPORTS ON INVESTM ENT PROPERTIES.
R ailroad Location and Construction.
Active and Local Securities bought and sold to ad
vantage. Atlantic Mutual Scrip. Circulars.
J, P . W i n t r i n g l i a m , 3 6 T i n e S t ., N , Y ,
TRUSTEES:
N. Denton Smith,
W . H . H. Moore,
Charles H. Marshall,
A , A. Raven,
Joseph H . Chapman, Charles D, Leverich,
E dw ard Floyd-Jones,
James L ow ,
G eorge H . M acy,
James G. D o Forest,
W aldron p . B row n,
W illiam D egroot,
A nson W. Hard,
William H. W ebb,
Josep h A gostini,
H orace G ray,
Christian de Thom sen, V ernon H . B row n,
Charles P, B urdott,
Leander N. L ovell,
E verett F razar,
Henry E. H aw ley,
W illiam B, B oulton,
W illiam E, Dodge,
G eorge W. Quintard,
L aw rence Turnure,
.Paul L. Theband,
John L. Hiker,
George C oppell, ®
C. A . Ilan d, ©
G ustav H . Schwab,
J oh n D. H ew lett,
Francis M . B acon.
Gustav Am sinck.
ANTON A . R A V E N , President.
F R E D E R IC A. PARSONS, Vice-Pres’ t.
CORNELIUS E L D E R T , 2 d Vice-Pros’ t
THEO. P. JOHNSON, 3d Vlce-Prcs’l.
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