Full text of Commercial and Financial Chronicle : May 24, 1879, Vol. 28, No. 726 [Copy 1]

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HUNT'S

MERCHANTS’

MAGAZINE.

paper,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES.
■

wr~

;

YOL. 28.

:

SATURDAY, MAY 24, 1879.
CONTENTS.
THE

The New York Produce Exchange
and the Cental System
Latest Monetary and Commercial

513
514

English News

515

Commercial

515

and

BANKERS’

Money Market, H.

S. Securities,
Railway Stocks, Gold Market,
Foreign Exchange, N. Y. City
Banks, etc

517
518

Miscellaneous

News

THE

520

GAZETTE.

Quotations of Stocks and Bonds.. 524
Investments, and State, City and
Corporation Finances
525
521

Epitome

528 ! Dry Goods

Cotton

528
534

Breadstuffs

I

535
Imports, Receipts end Exports.... £36
...

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THE RAPID APPRECIATION OF SECURITIES.

Some of

With the first of January, however, the pre¬
vailing sentiment changed absolutely. It had, even
before that, been growing more confident; but at that
time it took

decided turn,

and since then this
confidence has daily increased. All know the nature of
a
growing trust as applied to capital which has before
been held in

a

more

bondage by distrust—an intangible feeling,

yet positive, and accumulating force and daring daily
until all distrust

THE COMMERCIAL TIMES.

Commercial

NO. 726.

history.

CHRONICLE.

The Rapid Appreciation of Securilieu
What to do with Trade Dollars...
Onr Brooklyn Bridge
The Cal.fornia Constitution

“

conservative readers

disappears and every species of invest¬
sought after. We are undergoing just such a
change now, having started from a point of time when
the accumulation of floating capital had reached an
amount simply enormous through
conversion during
several years from more fixed forms.
While the country was thus preparing for this new
advance, and as a part of that preparation, our industrial
interests were all reorganizing.
Confining our review,
however, to our transportation enterprises—as it is of
those we are speaking—we are struck with the remark¬
able and thorough rehabilitation which has been in pro¬
cess.
Railroad corporations which in 1873 to 1876, and
even later, utterly
collapsed, have been reorganized,
part of their obligations wiped out, and the undertak¬
ings put upon a basis which permits development. That
development has been made the more easily attainable
and, in truth, has been assured by two facts—first, the
large increase in agricultural productions, the natural
and necessary result of the times through which we have
passed; and, second, the wonderful decrease in the cost
of transportation.
We thick our people hardly appre¬
ciate the importance of this last condition ; they do not
fully understand the economies which have been intro¬
duced during these weary years of waiting, the results
that have been reached, and the fruit of those results.
We gave some statements last week showing that two
of our leading railroads figure out the cost of carrying a
ton of freight a mile at less than one half cent.
That
means the bringing to market of many a bushel of corn
ment

is

disposed to
the wonderful appreciation of secu¬
rities since the first of January. The upward movement
has certainly been very rapid; probably the whole mar¬
ket has advanced at least 20 per cent.
Of course, some
rubbish has been carried along with the current, and yet
we are inclined to look upon the
general upward ten¬
dency as entirely legitimate. It may be wise to recall which before rotted in the fields as not worth transporta¬
the conditions unier which this state of things has be¬ tion expenses, and that in turn means large gross and
net earnings for railroads/ even at their low rates. This
come possible.
In the first place, contrast each individual’s feeling as is a state of things arising when general business has
to
security and stability on the first of January last and only just begun to revive. Let commerce once more
since, with the prevailing feeling one, two, three or more resume its old activity, and why may we not, with such
years previous,
We were drifting then; but, thanks to grounds for our belief, safely anticipate that these enter¬
the able management of Mr. Sherman, we are anchored prises will be more remunerative .than ever before.
now. For years we had been engaged converting our
Such is the view the general investing public is taking
capi¬
tal into more available assets, where our hands could feel at present, and the large accumulations of idle capital
and our eyes see it, so timid as to scarcely allow it out before referred tp, make the competition for all securi¬
of our
sight, or at least unwilling to put it into anything ties more active. Many claim that much of the activity
hut the most temporary forms.
This is not fancy; it is is merely temporary, being due to a change of investments
our more

look with distrust




on

are

THE

511

CHRONICLE

[Vol. XXVIII

on account of this change and its results that we claim,
governments to railroads. So far however as this
if no great public interest is harmed by their redemp¬
requires us to believe that the public is taking fewer of the
four per cents than it held of the called bonds, we see tion, the legal-tender silver dollar should be substituted

from

is hardly

little warrant for it.

That may be true, but it

reconcilable with the

supposed fact that the holdings in

for them.

But Mr. Sherman insists that to

adopt this course
would disturb and depreciate our currency and, there¬
fore, our credit. He reports that about 36 millions of
tiade dollars have been coined, of which about 30 mil¬
lions have been exported and from 26 to 28 millions are
still in existence in China; that if the Government
should offer to redeem them, all of these China dollars
would be brought back to this country to secure the
difference (14 or 15 cents) between their bullion value,
for which they could be bought, and their legal tender
value which is now held at the gold standard.
To
quote the Secretary’s words—

Europe of our Government securities have also at the
same time decreased.
Undoubtedly the improvement
in Government credit holds a large place among the
influences which are strengthening confidence, and at the
same time all these
changes in investments in a general
way help on the exhilaration and buoyancy.
But there
seems to be reason, however, for expecting the upward
movement to continue (of course with occasional lapses)
until all undoubted securities rule at high rates. Yet we
do not share in any degree in the belief that the rate of
interest in this country is to be permanently lower.
Our
If you now make the trade dollars lawful money, or authorize
best bonds will all be wanted in Europe. Just at present
them to be converted at par into lawful money, the largest part
England is in a state of liquidation and reorganization of the 30 millions exported will be presented for redemption in
the standard silver dollars. If you force the standard silver
.as we have been, so she lets them pass to us as our mar¬
dollars into circulation, I know by experience they will at once
ket advances. Shortly she will want them again and come back for taxes and bonds, and as often as re-issued will
come back until we will be driven to hoard them in our vaults,
more of them—not the doubtful ones, but such as timid
or they will drag our paper money down to the market value of
capital tired out with one per cent will feel safe in silver bullion and will expel gold. This will create wide and
sweeping changes in contracts. For forty years all contracts
taking.
have been based
upon

WHAT TO BO
There is

gold coin, except since the issue of legal

tender notes. Now these are at par with gold coin, and thus
far we have maintained our silver coin at the same standard
because the amount was limited and the supply mainly in the

WITH TRADE DOLLARS.

feeling, which is becoming quite prevalent, Treasury. The addition of 30 millions of trade dollars to our
scarcely justified in allowing a active circulation, together with the continued coinage of two
millions a month of standard dollars, would soon force into use
to circulate, endorsed by it a dollar, and yet the silver dollar as the sole standard of value for all
paper
a

that the Government is
silver coin

This is the relation of the
the trade dollar to-day, and the result is

refuse to receive it as such.

Government to

money

and for all contracts.

Of course,

if the foregoing statements

are

to be

quite a serious embarrassment accepted, the conclusion which is drawn from them
in the retail trade ; many reject it altogether, and those would be unavoidable, and we should not fora moment
who do lot, must either crowd it off on their unwilling think of urging redemption. But we believe that an
customers or sell it to the brokers at a discount. investigation will disprove the main statement.
In other
Another class buy it of the brokers and make an honest words, China merchants tell us that there are very few
penny by giving it in change to all dealers who are trade dollars in China at the present time; that as soon
too modest to refuse it.
The annoyance thus suffered as any silver currency is introduced into the country
has led to the public demand on the Government to each piece is stamped with the initials of the person
honor its endorsement.
issuing it; and this process is repeated, so that soon
We have on a previous occasion expressed our sym¬ the coins get broken up, and are melted down and
pathy with this demand. But we are led to the subject become what is called Sycee silver, little bars or pigs,
again by the receipt of a pamphlet copy of the confer¬ stamped as before, and then circulated again. Oar
ence, the latter part of April, between the House Com¬ informants tell us that one sees large baskets full of these
mittee on Coinage, &g., and Secretary Sherman. The broken coins constantly being brought in to be made up
Secretary always has been of the opinion that it is better into pigs. If these facts are correct, it is clear that
to leave this matter as it now stands, acknowledging and the Government has nothing to fear from the exported
regretting the inconvenience to the individual, but dollars, and would only have to provide for the 6
believing that the general good required that treatment millions now in the country. We think we have the
for the present, at least. In this conference he expresses best of reasons for believing this would be about the
his views more fully than he has elsewhere done. His limit of the redemptions, even if all now in circula¬
objections to any new legislation are very forcibly tion were brought in. The law, of course, should be so
stated, and if the premise with which he starts is cor¬ framed that the coinage of silver would not be in¬
rect, no one could successfully impeach his conclusion. creased over the present limit by the recoinage thus
All will, for instance, acknowledge that the Secretary is made necessary.
Do we not have a very strong—and may we not
right in stating that these tokens were not issued for
the belief - in the
currency, that they were only authorized at the request say absolute—confirmation of
of the merchants of California who wanted to make nbn-existence of these exported dollars in the fact
their silver bullion more available in China and Japan, that they do not come back to this country now.
that they never were a legal tender, except for five dol¬ There is to-day, and has been all the time, a market
lars, and that the individual securing the coinage, and price for them, just as definite and easy to.get, as if the
not the Government, made whatever profit there has Government was redeeming them.
Mr. Sherman state*
been on the coinage. No one doubts that these are all the price in Wall street, the last of April, at 98| cents.
facts. Bht do they not become of little importance in Most certainly this 98 cents and a fraction would draw
that the coin has become

the discussion when

wje

remember that the coin has

now

passed out of the possession of the original holders into
the hands of the public, becoming a serious inconveni¬

all the dollars there

are

effectually as would
profit on the import of

to draw as

cents, for it shows a
between 13 and 14 cents for each dollar.
100

b«
price would drop at once if they began
through the connivance of the Govern¬
ment, thafisYh^qitgh the fact of coinage at the Govern¬ to be offered in large quantities. Even admitting this,
ment mint with the Government endorsement.
It is it does not affect the argument, for the fact still remain*
ence to




trade

claimed that the

It may

May

THE

24, 1379.J

CHRONICLE.

that

they do not come, and the price is unchanged
because—if you prefer to state it in that way—it does
not draw them.

For

one

moment

take in the full force
a

of the

proposition

we

are

called

on

to believe;—here

millions of dollars in China and millions of shrewd
men in the United
States; in the one place the dollars
are

are
are

fer.

worth 86 ceuts and in the other 98 cents,
abundant facilities and no impediments to

It is

scarcely

conditions could

and there
the trans¬
that such

necessary for us to say
exist without being turned

not

to

account.

We suggest,

therefore, that this matter be investi¬
gated, and if the work to be done is of such small pro¬
portions as appears, that steps be taken at once to rid
the country of this annoyance of two silver dollars.
OUR BROOKLYN BRIDGE.

Just

prior to adjournment of the Legislature, the
Assembly Committee on Commerce submitted a report
of the investigation of the Brooklyn Bridge, ordered by
a resolution of February 5 last.
After three months of
attention and the taking of testimony, the report is very
brief and rather inconclusive.
Seventy-five witnesses
were heard, and their testimony, partly theoretical and
partly conflicting, showed that the bridge will obstruct
navigation to the extent of requiring all passing vessels
whose masts stand over 130 feet in height to strike some
portion of them; that dock property above the bridge
has already suffered considerable depreciation; that the
obstruction is the

serious from the fact

t£at the
place of accommodation for
sailing craft, and that any disturbance of this accom¬
modation tends to neutralize the usefulness of the heavy
expense already incurred in removing the Hell Gate
obstructions; that of the 10,000 vessels found in the
East River during last year, about 1,200 ocean sailing
more

East River has become the

vessels would have had

to

strike their masts.

Of

course

what is lost

by warehouse and dock property above the
bridge may be, to some extent, gained by that below,
but this cannot be regarded as a mere transfer between
individual property-owners instead of a net public loss.
How far the obstruction may aggravate the difficulties
under which the metropolis now labors in
maintaining
its commercial supremacy against the vigorous efforts of
rival por s, the Committee justly say, is wholly a matter
of speculation at present; but that the bridge will be,
in a degree now impossible to define exactly, an obstruc¬
tion and an injury to commerce, admits no doubt.
No
advocate of the bridge pretends to deny it.
During the winter of 1S66-7, twelve years ago, work
was in progress
on the Brooklyn caisson—the first direct
work of the structure.
was

In 1860, the cost of construction
estimated at three millions by Mr. Roebling, after¬

515

will be

required, but they might safely have assumed
that not less than 15 millions will be gone by the time
the huge structure is open to use and its accounts are all
closed.
The four cables are now complete, but the
thing has become almost as well-known a type of what
is always 16 to be” as the Iloosac tunnel was, in Massa¬
chusetts, twenty years ago.
The Committee are not responsible for this brief histori¬
cal sketch.
The brevity of their report is natural,
considering that the decision of the Court of Appeals,,
made during their investigation, deprived it of all
prac¬
tical value by closing the question of continuance.
For
that reason, the little sketch we make is useful
only in
pointing anew the old moral, so thoroughly wrorn that it
almost seems to have lost all point.
We have always
thought the bridge enterprise a stupendous mistake, and
have never been able to appreciate the logic of the con¬
clusion—which

seems

Court—that when

to

underlie the

decision of the

large amount of money has been
unwisely put into an enterprise, there is a necessity of
putting in more. But all discussion of the merits of the
a

is vain now, as far as
the bridge is to cost,

is concerned; what¬
ever
and whatever its advantages
and disadvantages, completion is decreed. The Committee
case

the

case

without qualification, that whatever damage is
wrought will fall mainly upon this city, and that
Brooklyn will get what benefit accrues anywhere. This
is a one-sided condition of things, the two cities
being;
made to contribute equally, but it results from the fact?
that the bridge can simply enable people to do business
in New York and reside in
Brooklyn. How New York
property could have any conceivable, interest in the
bridge such as could justify any taxation for building it,,
we have never been able to
comprehend.
The Committee conclude their report by
raising, with¬
out presuming to decide, the question whether the
bridge
can be trusted as safe.
The testimony on this point was
so conflicting that
they recommend—as the sole sugges¬
tion they have to offer—that a board of
competent engi¬
neers be
appointed to investigate the matter. We can¬
not venture an
opinion on this question, but may add;
that, while the really profitable use of so costly a struc¬
ture requires it to be
practically a solid-ground connec¬
tion between the two islands, the idea of a continuous
passage was long ago abandoned. The bridge seems
likely to be only a slower ferry, inconvenient of access
and to-be resorted to in case of interruption
by ice or
fog, instead of an unbroken link in rapid-transit com¬
munication ; it is certainly one of the non-remunerative
enterprises which are shunned by private capital, but
are deemed suitable for the
money of the public.
say,

THE CALIFORNIA

CONSTITUTION.

wards the

The new California Constitution has aroused so much'
engineer-in-chief, the height then contem¬
plated being 200 feet. .In 1860, he increased his esti¬ attention by being represented as an onslaught by
mate to four millions, and in 1867 to seven.
In 1872, the mass upon capital and corporations, that an ex¬
his son, who succeeded him in charge of the work, and amination of its
provisions, to see how far they bear out
still holds that position, made the estimate
this
millions,
characterization, will be interesting. The document
although the height had been reduced from 200 feet to is very voluminous; hence we cannot attempt to present
135, and the cost increases in a geometrical ratio with a synopsis of it, and shall only make a cursory review
the height.
In 1873, he raised his estimate to a little of all that is noticeable.
over 13
millions, and in 1875 added $100,000 more. In
Corporations are not to be created under special act
February, 1875, the “ consolidating” act, which ended but may be formed only under general law; and all laws
all pretense of an individual
ownership, in part author¬ relative to corporations now in force, or hereafter passed
ized an expenditure of eight millions for the
completed pursuant to this section, maybe altered or repealed from
structure, $4,869,153 having been expended in all, up time to time. Dues from corporations shall be secured
to that time.
On the 1st of last February, $10,103,553
by such individual liability and other means as the law
had been expended. The trustees propose to
make 3£ may prescribe. Every stockholder shall be personally
millions more suffice; the Committee think four millions




jiable for all debts incurred during the time he remains-

516

,

THE CHRONICLE.

Buch, for such proportion as his stock bears to the whole
amount of stock; all directors and trustees shall be
jointly and severally liable to creditors and stockholders
for all money embezzled or misappropriated by the
officers during their term of directorship; “no corpora¬
tion, association, or individual, shall issue or put in circu¬
lation, as money, anything but the lawful money of the
United States.” All special charters and grants, under
which actual organization has not been effected and
business commenced, are declared null; the Legislature
shall neither extend any franchise or charter, nor remit
the forfeiture of any now or hereafter existing. Exercise
of the right of eminent domain shall permit the Legis¬
lature to take and subject to public use the
property and
franchises of corporations, the same as the property of
individuals. No corporation shall hold for more than five
years any real estate not necessary for its business, nor
engage in any business not expressly authorized by its
charter or by the law under which it is or hereafter may
be organized. No law permitting the lease or alienation
of any franchise shall relieve the franchise or property
held thereunder from any liabilities of the lessor or
grantor incurred in the use of such franchise. Stock or
bonds shall be issued only to represent money, labor, or
actual property received; an increase can be made only
under general law, and by consent of the
majority in
value, at a special meeting called on sixty days’ public
notice.
Cumulative voting in elections is provided for
The State shall have no interest in, nor lend its credit to,
any corporation.
Outside business corporations must
keep an office of public record within the State,

[Vol. XXVIIL

Land and improvements thereon shall be
separately. Cultivated and uncultivated land>
of the same quality and similarly situated, shall be
assessed at the same value.
Every tract of more than
640 acres, which has been sectionized
by the United
States Government, shall be assessed
by sections or frac¬
tions. Except as to railroad and other quasi-public cor¬
porations, in case of mortgage debts, the value of the
property affected, less the value of the mortgage or
similar obligation, shall be assessed to the owner
of
the
property, and the mortgage shall be
gage.

assessed

assessed

on

obligating the
ment on

money
shall be void as

the

owner

thereof.

Every "contract

debtor to pay any tax or assess¬
loaned, on any mortgage or similar deed,
to any interest specified and
as to such

tax or assessment.

No contract in which the State is

a

party shall surrender or suspend the power of taxation ,
provide for payment of tax on real estate

The law may

by instalment. The Legislature shall pass a law requir¬
ing every taxpayer to make to the assessor annually a
sworn return of all
property owned or controlled by
him. No private property shall be taken for
public use
without compensation, and no corporation except muni¬
cipal shall be given the right of way uutil full compen¬
sation, to be ascertained by a jury, shall either be made
or be ascertained and
paid into court. No special priv¬
ileges or immunities shall be granted not subject to full
power of the Legislature to alter or revoke.
No property qualification shall ever be
required for
voting or for holding office. Eight hours shall be a day’s
labor on public works.
Lotteries are forbidden. Con¬
and shall not be allowed to do business on more
tracts, on margin or for future delivery, of sale of any
favorable terms than home corporations.
All trans¬ corporate shares, shall be void, and money paid therefor
portation companies are made common carriers, subject is recoverable. The Governor shall not be elected to
to legislative control.
Any corporation organized under the United States Senate during his term. Sex shall not
State law for that purpose shall have the right to con¬ interfere with
pursuing any occupation. In civil actions
nect at the State line with railroads outside;
or
those
for
misdemeanor
the jury may be any number
every rail¬
road may intersect, connect with, or cross, any other, not
exceeding twelve, as the parties can agree, and in
and shall receive and transport the passengers, freight, or civil actions three-fourths
may render a verdict.
A
cars, of any other without delay or discrimination.
No proclamation for a special meeting of the Legislature
officer or employe shall have any personal money interest shall mention the
subject, and no other shall be consid¬
in furnishing supplies to or in the business of
any trans¬ ered during that session; in case the two branches
portation company. Granting passes to any person disagree about adjourning, the Governor may adjourn
holding office under the Slate is sweepingly prohibited ; them to any date he pleases, not beyond that fixed for
so is
any pooling of earnings whatever, and any railroad the next assembling.
All judges are to be elected, and
which lowers its rates, for purpose of competition, shall no
judge in the highest courts shall draw any salary until
not raise them again without consent of the
he
makes oath that no case is undecided which has been
govern¬
mental authority having jurisdiction over that subject. in his hands for
ninety days. Convict labor shall not be
let
out
on
Unjust discriminations in rates are forbidden. Three
contract, but the Legislature shall provide for
commissioners, chosen for four years by the people, and using it for the benefit of the State. Natives of China,
not to be interested in transportation
companies in any and idiots, insane, and criminals, are debarred from suf¬
manner, shall (acting by a majority vote) fix, alter, and frage.
No Chinese shall be employed on any public
publish, all transportation rates; examine books at will, work, except in punishment for crime." No corporation
with all the power of courts to issue process and punish now
existing or hereafter formed shall employ Chinese
contempt; hear all cases of complaint, prescribe a uniform or Mongolian labor in any way, and the Legislature shall
system of accounts. Failure to keep accounts as directed, do what is needful to enforce this prohibition.
The
or disobedience as to
rates, is punishable by $20,000 fine Legislature is also directed to provide penalties for
for each offense, with an additional
penalty for the importation of coolie labor, and to delegate to cities
offending individual; the Legislature may enforce for¬ and towns all necessary power for expelling Chinese or
feiture of charter as a penalty, and may confer on the
restricting them to prescribed quarters. The Legislature
commissioners any needed further powers.
is also to provide such legislation as will
prevent Chinese
As to revenue and taxation, all property not
exempt from entering the State.
by United States law is to be taxed. “ Property” is to
These are all the notable provisions of this extraordi¬
include money, credits, stocks, bonds, dues, franchises,
nary document.
It will be seen from this review that
and ail othSr things, real, personal, and mixed,
there
are
some
capable
objectionable features, and also very many
of private ownership;” but growing
crops, and public good ones.
The real point is, what the whole thing will
property, may be exempted. The Legislature may pro¬ amount to in practice. In the first place, it is proper to
vide for deducting from credits debts due residents
say that neither the document itself nor its ratification
of the State, except in case of credits secured
by mort¬ is chargeable to communism. It is an exceedingly able
“




-

Mai

24, 1879];

1

THE CHRONICLED

517

and cold-blooded instrument, free from rant, and is a spondence has been maintained with the Liverpool Exchange
and other similar organizations throughout Great Britain, as
very determined effort to reduce the pressure of certain
well as with the principal Boards of
Exchange throughout the
evils which have been very grievous in the State. Fierce
United States. The system appears to have been
steadily
as the charge upon corporations is, it is not
unprovoked, gaining favor in this country; and it has for some months at
for the heavy corporations of California, we must fairly least been manifest that its final
adoption here was only a
of
time.
the
result
As
of the correspondence of the
admit, have been naturally unpopular. But the farmers question
did the work of ratification, and their grievance was the New York Exchange with the different Boards throughout the
“
ranch.” It is said that 50,000 farmers own 6 million United States, action in favor of the new system has been
taken by almost all the leading Exchanges of the
country—by
acres only, while 5,000 ranchmen own 50 million acres ;
the Pittsburg Chamber of Commerce, the Boston Produce Ex¬
the latter, mostly unimproved, but yielding an income
change, the Buffalo Board of Trade, the Philadelphia Com¬
through herds, generally escapes taxation, while the mercial Exchange, the Baltimore Board of Trade, the Detroit
farms are taxed as being improved. Here is a large part Board of Trade, and the St. Louis Merchants’ Exchange.
Not all of those named have as yet finally committed them¬
of the case in a sentence; the farmers now propose to
selves to the new system by its formal adoption; but
they
cause these great tracts to be broken up, or else to make
have all pronounced themselves in favor of such measures as
them pay the same taxes as the farming lands do, value
would lead to its early and general introduction. The spirit
of
for value.
the resolutions passed at the different Boards amounts to
this,
The sweeping provisions about Chinese, taxation and that the new or Cental system would “ do away with the diver¬
corporations characterize themselves. The former con¬ sity of standards by which grain and other articles are sold,
travene treaty obligations, and certainly cannot stand. avoid a large and unnecessary amount of clerical labor, and
insure more uniformity in business transactions.” Some are
In the latter the holes necessary for the passage of the
in favor of petitioning Congress to provide the
necessary meas¬
traditional coach-and-six can easily be picked.
For ures for its establishment by legal enactment. Others are of
example, it is declared that any railroad lowering rates the opinion that such a course is unnecessary.
“for the purpose of competing” shall not raise them
The greater number of the Boards which have taken any
action seem to feel satisfied that the adoption by the New York
again; but as the motive here made the condition is not
Produce Exchange of the system would go very far towards
susceptible of proof, the prohibition is nullified by its
own terms.
In fact, to carry into practical effect insuring its immediate introduction. It was felt by the directtors, therefore, that, in consequence of this feeling which pre¬
what is declared shall be done, and the Legisla¬
vailed, it became them to act with consideration and caution.
ture is ordered to do, would baffle all the
Legis¬ Hence a meeting of the members was called for Wednesday of
latures united. The document is a voluminous statute, this week to vote upon the question :
Will this Exchange agree to buy and sell all grain and other
enacting that a great many things shall be, but it is not
produce now sold by other standards ascertained by weight, by
self-executory, and it provides no adequate means for the pound, the cental (100 pounds) or any multiple of the
such change to go into effect on a future day of the cur¬
enforcing its commands. Just a little comparison of the cental,
rent year to be fixed by the Board of Managers ?”
“

things ordered with the power residing in what orders
them suggests the spectacle of an angry man
making
mouths at the universe. The’power of legislation is lim¬
ited.
Even the people cannot do anything they
may
will. Setting these tasks, and directing the Legislature
to have them done, is like
designating certain days in
each month for rain to fall, and declaring that the
Leg¬
islature shall enforce the rule by all needful legislation.
The habit in constitution-making during the last ten
years has been to run extensively into details, and
experience has proven the details largely ineffectual;
those of this document are also such as it is not possible
to execute.

Without
we

extenuating the faults of this constitution,
think, therefore, that its practical power for harm

has been much

overestimated.

Its violence will render
it nugatory, just as an excessive dose of
poison defeats
its own purpose. Viewed in this way, it seems to
us

There

was

a

full attendance of members.

It

was

evident

that, although the friends of the new system were largely in
the majority, there was an opposition which was bitter and
determined. The opponents of the change were active with
both tongue and gesture ; and hand-bills denouncing the inno¬
vation were freely circulated among the crowd. There were
717 members present. Of these 485 voted for the new system,
and 232 voted against it. The New York Produce Exchange is
thus fairly committed to the Cental system. It remains to be
seen what further action may be necessary to secure
uniformity
of practice all over the country. It is not expected that legis¬
lative interference will be necessary; but if it should be found
necessary, Congress is but little likely to interpose any obstacles
to the wishes of the people as expressed through their Boards
of Trade.
As we have already, in these columns, explained the
features of the Cental system, it is unnecessary again to enter
into details. Its principal merit consists in the fact that it
will greatly simplify large transactions in grain and other pro¬
duce, and that, while it has the unquestionable excellence of
simplicity, it cannot fail in its workings to be more satisfac¬
tory to both buyer and seller.

really a lighter menace to capital and prosperity, practi¬
cally, than if it had been limited to less sweeping provi¬
—Owing to the recent decision of Judge. Harlan, in the
Columbus
sions which might have been carried out.
Chicago & Indiana Central case, requiring the reduc¬
It is a mis¬
tion of the absolute bonded indebtedness to $15,821,000, thereby
chievous document, but it is simply impossible of execu¬ to
preserve in force the lease and guarantee of the Pennsyl¬
tion—as if, in terms, it sought to repeal all law and leave vania Railroad Company,—the bondholders are earnestly
requested to make no delay in subscribing the agreement,
everything to the right of the strongest. The people and depositing
their bonds. This is urged by the committee
who voted for It will inevitably sicken of it, after
prior
to
the
further
argument which is to take place in Chicago
trial,
and will hasten to rub it out ; meanwhile, the easiest on the 2d of June. We understand that the bondholders are
not called upon for any present cash payment.
Parties inter¬
course will be found to be to hold its worst
provisions in ested will do well to notice the advertisement by the Committee
in another column. Copies of the
will be found at
suspense. It must work some harm, but it may also the office of the Union Trust Co., oragreement
Messrs. A. Iselin & Co.’s,
work good in teaching a needed lesson about the
practi¬ 48 Wall street, N. Y.
cal limitations of

statutory power.

—Recent reports from the Southern Nevada Mining Co., up
a late date, say that the new superintendent has arrived and
finds shaft No. 3 down 50 feet in rich ore, 4 feet wide, and open¬

to

THE NEW YORK PRODUCE EXCHANGE AND
THE CENTAL SYSTEM.

ing 5 feet wide of rich galena at the bottom. From shaft No.
1, 250 tons of rich ore are now on dump. The tunnel to shaft
No. 3 is showing ore in good quantities, and everything in good
It is Well known to our readers that for some time
past the working order. The last opening made of galena ores taken
leading members of our Produce Exchange have been moving from different parts of the mine and made by G. Wiegan, of
Virginia City, are as follows : No. 1, $212 20 silver ; No. 2, $217
in favor of the Cental
System, which towards the close of last 20 silver: No. 3, $116 40 silver—all had trace of gold. Messrs.
year became law in the United Kingdom. An active corre¬ 31. & S.
Stemberger are offering this stock at $2 per share.




THE

CHRONICLE.

IpXoticlavij H (Commercial guglisk Hems
RATES OF EXCHANGE AT LONDON AND ON LONDON
AT LATEST DATES.
EXCHANGE AT LONDON—
May
Time.

On—

k

i

1

t

Amsterdam
Amsterdam

12.0^2)12.1 h
12.3 @12.31*

u

Antwerp

Short.
3 mos.

25.15

20.54
20.55
20.55

St.Petereb’rg
....

Lisbon
New York..
Alexandria

Bombay
Calcutta

..
..

.
.

Hong Kong
Shanghai...

@20.58
@20.59
@20.59

22J*@225s
11.90

Naples

idwItfaMi

@25.25

25.321*2)25.371*

..

Berlin
Frankfort..

Vienna
Madrid
Cadiz
Genoa
Milan

May

25.371*2)25.421* May

...

Hamburg

Latest
Date.

Rate.

Short.
3 mos.

Paris
Paris t

EXCHANGE ON LONDON.

9.

90 days

@11.95

8

12.06

Short.

8
8

May
May
May
May
May
May

8 Short.
44
8
44
8
6 3 mos.
44
8
ii
6
8
8
8

Rate.

Short.

May

47is@47i4
47i4@47i*
27.87i*@ 27*921* May
27.871*® 27'92i* May
27.871* @27*921* May

25.20

Cheq’s.

3

25.171*
20.42
20.42
20.42
^

mos.
•

4

44

23
117*00

48*00
27.47
27.47
27.47

51V@5178

May
May
60 days Is. 7isd.-ls.7i4d. May
Is.

7isd.-ls.7i4d. May
May

May

1879.

Circulation, including
£
bank post bills
29,749,*512
Public deposits
6,977,579
Other deposits
30,401,698
Governm’t securities. 14,906,801
Other securities
21,233,785
Res’ve of notes & coin 19,244,571

1878.
£

1877.

28,397,792
7,085,313
20,951,069
15,556,488
20,481,698
9,958,164

28,891,707
6,638,594
21,682,317
15,348,494
19,646,733

11,290,854

14,545,365
17,974,474
13,364,018

33,678,000

23,054,679

24,837,739

26,327,853

51*05

35*13

2 p. 0.

3 p. c.
95 78
52s. Id.

39*39
3 p. c.

2 p. c.

93^
60s. 6d.

45s. 2d.

Coin and bullion in
both departments..

Proportion of
Time.

8 60 days
6

3 mos.

5
5
4
4

6

mos.
44
44

44

4.871*
9014
Is.

7916d.

Is. 79,Bd.
3s.
5s. 0%!.

to

Bank rate
Consols

Eng. wheat,

our own

market for three months’ bills does not exceed
The discount houses

for money

verjr

1 to

1% per

allowing only /6 and % per cent
at call and with notice respectively, and there is a

general belief that

cannot be maintained.

are

even

£

96r>$
40s. 9d.

price.

6i516d.
*

Cleariug-IIousereturn 96,518,000

the present low rates of discount

All securities of

28,282.361
7,660,311

20,234,424

47*37

96i*

578d.

75sd.

9%d.

63ied.

978d.
95,479,000

11 lid.

93,898,000

95,307,000

The

imports of gold during the week have been upon a very
moderate scale, and only about £100,000 have been sent abroad.
There has been a demand for silver for Spain, and the supplies
here being limited, the quotation advanced at one period of the
week to 50%d. Mexican dollars are also rather
higher in price.
The following quotations for bullion are from the circular
of Messrs. Pixley & Abell:
GOLF*

Bar
Bar

gold, fine
gold, reflnable

per oz.
.per oz.

standard, nearest.
standard,

“

per oz.

“

Spanish doubloons
South American doubloons
United States gold coin

gold coin

.

per oz.
per oz.
per oz.

:

s.
d.
77 9i*@
77 11
@
73 9 @
73 8i*@
76 3%@
76 3j4@

Bar silver, line
Bar silver, contain’g
Mexican dollars

5 grs. gold

Chilian dollars

Quicksilver, £6

Tenders

wrere

2s.

6d.

per oz. standard. 50*8
per oz. standard. 501*
peroz. 49J8
per oz., none here
Discount, 3 per cent.

received at the Bank of

for £250,000 in Government bills
allotted to Calcutta, £104,000 to

Madras.

Tenders

on

England

d.

8.
.

.

.

.

.

.

d.

SILVER.

London, Saturday, May 10, 1870.

open
cent.

av.

Mid. Upland cotton...
No. 40 mule twist

correspondent.]

The money market presents no new feature. The
supply of
mercantile paper is very limited, and the rate of discount in the

1876.

£

reserve

liabilities

German

fFrom

[Vol. XXVIII.

d.
@
@

@
@

Wednesday
India, £112,600 being
Bombay, and £33,400 to
on

on

Calcutta and Madras at Is. 7Md. will

receive about 64 per cent, and on Bombay at that price in full.
The Metropolitan Board of Works announced that they will

acknowledged sound¬
sought after for investment; but they are already at a
high point, and }Tield but a small rate of interest to investors. be prepared to receive tenders at the Bank of England cn the
The public, however, prefer this to
incurring any risk, and it 15th inst. for £2,150,000 3/6 per cent stock, the minimum price
seems probable that a further advance will take
place. Colonial of which is fixed at par. Interest will be payable quarterly, and
Government securities are now very greatly in favor, and new the
primary security for the loan is the power of the Board to
loans are quickly subscribed. On Tuesday, the Crown
Agents rate the whole reliable property within the Metropolitan area,
for the Colonies opened tenders for £2,615,600,
Cape of Good which is estimated at £23,960,000. One penny in the pound now
Hope 4/6 per cent debentures, and the total applications produces £100,000.
amounted to as much as £5,053,300, at prices ranging from 96/6
Safety in locomotion beiilg of great value in all civilized
to 99.
Tenders at £98 2s. 6d. will receive about 90 per cent, countries,
any improvements tending to ensure it should be
and those at and above £98 3s., in full.
Considering the state fairly tried. From the remarks which follow, it will be seen
of affairs at the Cape, and that the Government have
complied that, under favorable circumstances, the powerful engines on
with Lord Chelmsford’s demand for more
troops by dispatch¬ our leading lines can be made to attain a speed of 65 miles an
ing ships with considerable speed, the success of the loan is not hour, while the brake powrer can now be so quickly and gener¬
only very remarkable, but the price obtained is high. The ally applied that a train moving even at that rapid space can be
colonial loans introduced of late years have, with
scarcely an stopped in less than half a minute. The experiments were made
exception, proved to be very successful; in fact, since the public one day last month with Smith’s vacuum brake on a special train
of this country have lost so much in their
foreign investments, of the Great Northern Railway between King’s-cross and
they have sought after a better class of security, and have taken Cambridge. The train consisted of ten carriages and two brake
keenly to Colonial, Indian and United States securities. Home vans, and the whole weight wras 180 tons. The trials were
securities of acknowledged soundness have also attracted atten¬ made to
prove that these brakes have the most simple automatic
tion; but it is difficult to find a market for a security respecting arrangement, and to show that an ordinary vacuum brake can
which any doubt exists. This state of things
is likely to con¬ be easily converted into an automatic one, at a comparatively
tinue, as the public are still timid, and bankers are reluctant to small cost. The first stoppage was made at Wood-green. Here
lend.
there is a gradient of 1 in 200 up. The train was travelling at
The small private banks throughout the
country are the rate of 53 miles an hour, and was stopped in 15 seconds in
gradually going out of existence. This week, the firm of 148 yards. The next stoppage was at Hatfield, where there
Swann, Clough & Co., established at York in 1771, has stopped is a gradient of 1 in 200 down. Here the speed wras 58 miles an
payment, the liabilities being estimated at about £200,000. The hour, and the train was stopped in 21 seconds in 264 yards. At
Bank had a small note issue; but the event has not excited
Langley, where the gradient is 1 in 300 up, the train, travelling
much attention. Many of these
stoppages are caused by the at the rate of 63 miles an hour, was stopped in 23/6 seconds in
decease of the older partners, and the withdrawal of their 392
yards. Passing Hiteliin, where the gradient is 1 in 200 down,
capital by those who succeed them.
the speed wras 65 miles an hour, and the train wras stopped in 30
Money has been in very moderate request during the week, seconds in 414 yards. The train, travelling 58 miles an hour,
aud the rates of discount are as follows:
wras next stopped in 19 seconds in 236 yards at Baldock Station,
Per cent.
where the gradient is level. On an electric stop from the
Open-market rates—
Per cent.
Bank rate
2
4 months’ bank bills
ll*®^
carriage on a gradient of 1 in 345 up, the train, which was going
Open-market rates—
G months’ bank bills
1%@1 1*
30 and 60 days’ bills
4 & 6 months’ trade bills. 2 @2!*
1 @1*8
at the rate of 50 miles an hour, wras stopped in 17 seconds in 220
3 months’bills
1
@119
The rates of interest allowed by the joint-stock banks and yards. The last stoppage was made after passing Meldreth
Station, where there is a gradient of 1 in 345 down. The train
discount houses for deposits are as follows:
wras travelling 63 miles an hour, and was stopped in 19 seconds
Per cent.
Joint-stoek banks
1
in 236 yards.
The report of the trial states that the rails
Discount houses at call
'
1*
do
with 7 and 14 days’ notice of withdrawal
throughout were very greasy.
Annexed is a statement showing the present position of the
Tlie~"Board of Trade returns for April and the four months
Bank of England, the Bank rate of discount, the price
ended
April 30 wrere issued on Wednesday.
They show the
of con¬
sols, the average quotation for English wheat, the price of following results:
1879
1878.
1877.
Middling Upland cotton, of No. 40 mule twist, fair second quality > Imports in April
£32,165,334 £34,004,190 £33,736,564
and the Bankers’ Clearing House Return, compared with the
129.957,983 117,205,290
14,642.358
(Imports
in
four
months
16,327,059
130,986,751
Exports in
April
15,206,577
three previous years :
57,722,463
•
63,403,687
Exports in four months
62,467,332
ness are

....

i



S

ss

May 24,

THE

1879.]

519

CHftOJNJLCLR

the quantities of cotton manufactured quarters, against 169,500 quarters in 1878. Since harvest the
piece goods exported in April, compared with the correspond¬ sales in the 150 principal markets have been 1,917,801 quarters,
against 1,503,190 quarters; and it is computed that in the
ing period in the two preceding years:
1878.
1879.
1877.
whole kingdom they have been 7,671,200 quarters, against
Yards.
Yards.
>
Yards.
6,181,500
Germany
4,434,600
4,001,900 6,021,000 quarters in the corresponding period of last season.
4,332,000
Holland
4,457,100
5,311,400 Without reckoning the supplies of produce furnished ex-granary
France
4,983,000
4,838,000
4,458,200
6,712,900
Portugal, Azores & Madeira.
5,732,700
5,548,100 at the commencement of the season, it is estimated that the
Italy
6,260,000
4,253,000
5,104,200
1,435,800 following quantities of wheat and flour have been placed upon
Austrian Territories
823,500
952,700
The

following

were

2,291,500

Greece

17,770,400
7,561,600

Turkey

Egypt

1,997,100
4,589,900
5,808,300
2,493,200

West Coast of Africa

United States
Foreign West Indies
Mexico

1,249,000

24,332,200

9,015,100

3,134,500
2,565,800

4,255,900
1,680,000

3,502,000

30,573,600

6,588,700

1,355,400
3,169,300

4,818,000
889,100

United States of Colombia

2,882,400

(New Granada)
Brazil

Uruguay
Argentine Republic
Cliili

4,857,400

13,741,900

15,628,800

771,900
3,497,300

1,540,400
5,190,700

3,708,600

2,715,500
3,654,100

Peru

4,585,900

16,024,500

2,679,800
5,145,200

941,300

2,893,700
2,124,900

36,365,500
1,804,200

33,793,800
1,491,800

Java

6,496,500

43,412,300
3,506,500

Philippine Islands

4,426,300

3,208,600

2,183,500

3,008,200

China and Hong Kong

Japan

6,436,400

Gibraltar
Malta
British North America
British West India Islands <fc

3,821,400
1,789,300

4,642,600

1,669,200
2,347,700
3,157,000

Guiana
British Possessions in South

2,594,500

3,504,900

Africa

9,201,900

1,098,900
1,369,200
1,565,500

1,087,400

1,300,000

1,616,000

24,104,800

27,105,500

19,844,800

52,213,600

73,070,500

64,461,300

1,912,700

1,203,000

2,623,500

British India—

Bombay

2,437,000

Madras..

Bengal

•

Straits Settlements

Ceylon
Australia
Other countries

9,079,900

3,447,000
8,251,200

3,282,600

5,136,600

the British markets since harvest:
1877-8.

1878-9.

Imports of wheat.cwt.33,013,942. 39,198,892
Imports of flour
6,018,263
6,082,146
Sales of home-grown

33,242,000 26,090,100

produce
Total
Deduct
exports
wheat and flour

59,122,187

70,606,020

1,289,599

1,370,981

704,357

265,898

70,984,606

70,000,157

58,417,830

70,340,122

40s. 5d.

52s. 8d.

50s. Id.

Result
season.

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

1877-8.

1876-7.

1875-6.

cwt.33,013,942

39,198,892

26,311,163

38,079,120

8,145,125

9,852,304

10,216,496

1878-9.
Wheat

Barley
Oats

,

Peas
Beans

Indian
Flour

7,528,100
24,511,100

4,457,200
21,620,700

194,670,400

226,087,800

203,092,100

Wheat

86,236,600

92,187,400

79,500,000

Barley

827,200

915,200

1,053,300

Total
281,734,200 319,190,400
Other manufactures of cotton show as follows:

283,645,400

Lace and

patent net
Hosiery of all sorts

£
£

Thread for sewing
lbs.
Other manufactures, uneuumerated
£
Total value of cotton manu¬
factures
£

1877.

1878.

94,154
53,571

96,410
53,468

781,606

979,721

68,546

85,785

4,336,434

4,621,592

corn

7,678,358
1,218,234
2,422,283
21,920,759

6,731,523
863,939
3,285,620
22,526,213

7,507,183
1,054,824
2,573,233
15,892,900

6,018,263

6,082,146

4,338,924

4,654,400

Oats
Peas
Beans
Indian
Flour

cwt.

1877-8.

1,321,817

674,469

91,625

39,748

43,319

64,476
12,978
9,971
corn

1876-7.

1,193,906

51,509
16,635
16,752

-

302,605

171,968

95,693

49,164

82,003
' 20,638
23,963
362,401
29,888

1875-5.

248,894

21,204

236,558
29,470
6,383
33,200

17,004

following return shows the extent of our imports of
Kingdom since harvest, viz.,
897,704 from September to April inclusive, together with the countries
66,340 whence the principal supplies were derived; a comparison is
made with the three previous seasons:
3,909,844
1879.

112,707
51,182

public sales of colonial wool were commenced on Tuesday,
and have been well attended. There has been active competi¬
tion, and rather better prices have been obtained. The
purchases of the home trade have increased. The quarterly
indigo sales held recently passed off satisfactorily, and higher
prices were realized. As indigo is largely used for dyeing
purposes, while there has been a better feeling both in the
cotton and woolen trades, the condition of business is believed
to be more satisfactory.
A feature of importance in the cotton
trade of late is that Russia has been a much larger buyer of the

The

wheat and flour into the United

WHEAT.

cold, and vegetation makes slow
progress.
Snow is still to be seen upon our loftier hills and
the
upon
Welsh and Scotch mountains; but in the plains the
•old is unaccompanied by rain or snow, and does not create much
harm. Some people are very much alarmed; but the principal
The weather continues very

drawback is that the crops will be late, which is adverse to a
■uccessful harvest in the North. Some of the agricultural

do not take an adverse view of the situation. For
instance, the Gardeners' Magazine says: “ The opening of spring,
though so late and with wintry weather still prevailing, is conlidered as in many respects favorable to a productive summer.
We are informed that vegetation is, generally speaking, three
or four weeks in arrear of the average, and the comparative
lateness of growth appears to satisfy our contemporary, who
tites an old proverb to the effect that when apple trees flower
in May large baskets will be needed for housing the crop.
From the same source we learn that on Saturday last the plum
crop was seriously damaged by frost in the Home Counties ;
but that, upon the whole, the recent cold weather has been
favorable to the fruit trees, a strong light and a dry air aiding
in the development and diffusion of the pollen.”
The trade for wheat during the week has been rather more
Active, the coldness of the weather having led to somewhat
increased purchases, and to more firmness on the part of sellers.
Farmers are marketing full average supplies, and the imports
from abroad are large. The crops, however, seem to be
backward throughout the world.
During the week ended May 3, the sales of home-grown
wheat in the 150 principal markets of England and Wales
Amounted to 58,937 quarters, against 42,403 quarters last year;
And it is estimated that in the whole kingdom they were 235,750

1877-78.

1878-79.
Cwt.

Cwt.

From
Russia
6,530,306
United States
18,286,235
Brit. N. America 1,643,884

5,372,751
19,991,558
2,698,615

4,477,064

3,016,266
8,713
153,061
132,017
Turkey & Roura’a
244,104
Egypt
British India....
596,926
Other countries.. 1,032,220
Germany

...,

61,103
182,596

France
Cliili

Total

1876-77.
Cwt.

5,414,890
11,020,274
993,344
1,487,993
506,325
165,978
501,866
1,192,923

1875-76.
Cwt.

7,041,517
14,147,774
2,093,218

3,420,542
978,640

3,600,803
804,340

2,689,062
877,125

680,288
1,307,956
2,267,066
1,727,302
2,595,015

37,855,253

24,849,780

36,259,318

192,138
474,285

31,643,732

FLOUR.

manufactured article.




6,567,915

7,135,627
1,082,321
847,660
21,656,999

EXPORTS.

The

papers

45s. 5d..

The

6,656,900
26,697,900

predominating

28,472,100 27,872,500

71,371,138

1878-9.
Total unbleached or bleached
Total printed,dyed,or colored
Total mixed materials, cotton

1875-6.

31,079,120
4,654,400

72,274,205
of

Av’ge price of English
wheat for the

1876-7.

26,311.163
4,338,924

From

1878-79.

1877-78.

1876-77.

Cwt.

Cwt.

Cwt.

France
United States....
Brit. N. America
Other countries..

Total

Annexed is

a

Cwt.

665,310

1,128,248
760,830

699,217
958,557

2,239,785

1,279,432

1,481,810

245,215
1,699,251

1,092,879

189,608
877,066

5,928,375

6,073,327

4,176,175

4,445,840

646.264

Germany

1875-76.

231,900
3,381,988

^

186,413

return

giving

an

146,890

986,174
1,727,282

estimate of the value of our

imports of cereal produce into the United Kingdom since
harvest, viz., from September to April inclusive, compared with
the three

preceding seasons:
1877-78.

1878-79.

£15,642,196

Wheat

4,432,312

3,280,321

Barley
Oats
Peas
Beans
Indian
Flour

£23,326,726

2,296,544
385,492

309,845
5,613,570
4,750,190

corn...

Total

£32,278,158

'

2,745,054
496,445
917,291 T
6,988,277
5,569,787

£44,475,892

1876-77.

£13,824,771

3,898,311

1875-76.

£19,498,020

2,674,302

2,777,997
356,360
1,200,634
6,745,753
3,493,355

2,814,150
469,902
1,082,348
5,737,797
3,577,432

£32,297,181

£35,853,951

to the Metropolitan Board of
Bazalgette, engineer, and Mr.
Keates, consulting chemist, with reference to the lighting of the
Thames Embankment by electricity. After giving details as to
the motive power and other matters relating to the electric
machines used, the report entered into a comparison of the cost
of electric light as compared with gas.
In opal globes the
electric light was equal to 155 candles, and in frosted globes

A joint report wras presented
Works yesterday by Sir Joseph

The cost of the electric light was 5*78d. per
hour, and to produce a light equivalent in gas would cost
in opal globes 2d. per hour, ana in frosted globes, 3*50d per
hour. In conclusion, the report says: “ There can be no doubt
that electric lighting has now established itself as a light which,
under particular circumstances of street lighting, or lighting of
to 265 candles.

great interiors, railway stations,^or similar places, will be used;
but at present there are defects connected with it that must
prevent its adoption as a general mode of lighting competing
with gas. There is, in our opinion, no prospect at present of
.any such general competition.”

520

THE
English

Market

CHRONICLE.

rvou xxviii i

Reports—Per Cable.

.

The

“

«

daily closing quotations in the markets of London and
Liverpool for the past week, as reported by cable, are shown in
the following summary:

n.

15—Sr
15—H
15—A.

..

Sat.

I
l

Sliver, per oz

d. 50

Consols for money
98ii1B
Consols for account...
08146
IT. 8. 10-40S
..103%
U. S. 5s of 1881
...105%
U. S. 4^s of 1891
..108%
U. S. 4s of 1907
.104%
28
Erie, common stock...
Illinois Central
89
■

>

1
■

|
l
f
4

Mon.

Wed.

■

-•

50

50%

osn16

98ii16

98%
10334

..Maracaibo

Foreign gold...

..Aspinwall

38%

...

Philadelphia^ Rcadin g- 21 %

9834
981316 98%
103%
IO334

105%
10S34
1053s
29%
89

37%

3734
21%

21%

Liverpool Cotton Market.—See special report
Liverpool Breadstuff's Market.—
Sat.
d.
Flour (ex. State) $ bbl. .24 0

Mon.
9.
d,
24 0
8 9
7 10
9 3
9 7
8 11
9 4
4 7
4 4

9.

Wheat,spr’g,No.2,1001b. 8 10
Spring, No. 3...
“
7 10
Win ter, West..,n.

Southern,

new

“
“

.

Av. Cal. white..
California club.

“
“

Corn,mix,sft,old,$)cent’l
Prime,

“

new

3

9
9

7
8 11
9 4
4 7
4 4

Tues.
.9.
d.
24 0
8 7
7 8
9 3
9

7

8 10
9 3
4 6i 2
4 4

4
4

105%
108%

105%
29%
88%
37%

105%

21

20

,917 silver, and

Sat.
d.
Pork, West. mess.. $ bbl. 47 0
B aeon, Tngcl’r, new. cwt.26 0
Short clear, new
“ 26 6
Beef, pr. mess, new,$tc.74 0
Lard, prime West, ^cwt.32 9
Cheese, Am. choice. “ 42 0

37%

Pet’leum, ref. $ gal...
Pot’leum, spirits “
@

Tues.

.

Thurs.
Fri
9.
d.
9.
d.
0
24 0
24 0
7
8
6
8 6
8
7 7
7 6
3
9 3
9 3
7
9 7
9 6
10
8 10
8 10
3
9 3
9 3
6% 4 6% 4 6
4
4 3%
4 3%

Wed.
9.
d.
47 0

d.
0
0
6
0
6
0

9.

47
26
26
74
32
42

..

Mon.
d.
.

.

.

26
26
74
32
42

Tues.
d.

7%®7 %

•

•

Thurs.
d.
0
6
0
0
3
0

9.

0
6
0
6
0

47
25
26
74
32
42

-

d.
0
6
0
0
6
0

9.

47
25
26
75
32
41

•

-

.

.

Wed.
d.

®7%
@

Thurs.

'd

..

a>

.

.

d.

@7%

.

6%®'7%

*•

Fri.

d.
--

■©
©

..

..

..

--

Imports

and Exports for the Week.—The
imports of last
compared with those of the preceding week, show
an increase in dry goods and a decrease in
general merchandise.
The total imports were $5,647,466, against $6,135,228 the
pre¬
ceding week and $6,226,757 two weeks previous. The exports
for the week ended May 20 amounted to $5,697,932,
against
$5,908,390 last week and $6,080,721 the previous week. The
following are the imports at New York for the week ending
(for dry goods) May 15 and for the week ending (for general
merchandise) May 16:

week,

FOREIGN IMPORTS AT NEW YORK FOR THE WEEK.

1876.

$1,019,144

1877.

General mdse...

$912,388

5,373,871

1878.
$850,060

4,693,396

$1,368,753

3,081,746

4,278,713

Total week
Prev. reported..

$6,393,015

$5,605,784

$3,931,806

123,223,860

108,790,331

$5,647,466

„

Dry Goods

-

.

Tot. s’ce Jan.

121,644,108

1879.

115,200,436

1..$128,037,123 $128,829,644 $112,722,137 $120,847,902

In our report of the dry goods trade will be found the
of dry goods for one week later.
The following is a

imports

statement^ of the exports (exclusive of

specie).from the port of New York to foreign ports for the
week ending May 20:
6 1
EXPORTS FROM NEW YORK FOR THE WEEK.

1876.

$3,780,250

1878.

$5,518,535

1879.

87,702,288

$7,069,472

96,353,476

126,632,598

$5,6b7,932
115,426,303

$91,482,538 $101,872,011 $133,702,070

$121,124^235

For the week....
Prev. reported..
Tot. s’ce Jan. 1..

The following will show the exports of
of New York for the week

specie from the port
ending May 17, 1879, and also a
comparison of the total since January 1, 1879, with the
corresponding totals for several previous years:
May.
15—Str. City of Brussels.. Liverpool
8tr. Lessing
London
15—Str. Morro Castle
Havana
15—Str. Flam borough
17

gritaimic

Am. silv. bars.
Am. silv. liars.
Mex. silv. dols

Hamilton

Liverpool
l^ondon...

Str. Donau

Str.

Hadji

.Eng. gold

coin'

Aim silv

bars.'

...Am. silv.
Mex. silv.
Mex. silv.
'...Am. silv.

Paris

17

St. Thomas

bars.

dols.
bars.

(con’g $1,000 g.)
Mex. silv.

($583,641 silver and $10,024 gold)
Previously reported ($6,905,643 silver, and $239,046

216,000
22,200
9,024
9,300
265,000
7.200

5,372

dols.

13,000
2,669
$593 665

..

gold).” 7,144;689

($7,489,284 silver, and $249,070 gold) ..$7,738,354

1878

$7,714,147

1877
1876
1875

11,626.555
21,750,877
30,096,975

The imports of
been as follows:

$13,900

bars

Total for the week

Tot. since Jan. 1, ’79
Same time in

Same time in
1874
$19,303,548
1873

1872.....
1871

20,619,745
22,474,197
32,357,361

specie at thig port for the

Same time in—
1870
1869
1868
1867

same

$12,252,969
12,194,835
32,947,989
16,478,145

periods have

May.
12—9tr.

Hadji

13
13

Flamborough.... Hamilton

-tr.

,

3tr. Niagara




St. Thomas
.

Havana

AXDjmiNCUL

Office of Fisk & Hatch, No. 5 Nassau Street, ?
New York, May 22,1879.
5
Four Per

Cent‘Circular, No. 6.

The demand for
per

our circulars almost equals the demand for tlic Four
Cent Bonds, so universal is the interest in the subject of investment

in Government Bonds.

Of each

one

wo

and issue from five to ten thousand to

have been compelled to order

satisfy the

eager

inquiries from

Am. silver
Am. gold

Foreign gold...
Foreign' gold
Am. silver

besieged for the latest information, and so many new
daily arising, that we are compelled to issue another, In
order to save time gnd satisfy inquiries. From friends, investors, and
the public generally, constantly come the quories: Are not the Four per
Cent3 too high ? Won’t they decline again after-a while 1 Shall we not do
better by waiting ? Will not business revive and make money soarco?
Will not sometliiug happen, for us who havo waited to invest our money
in “Fours ” or to exchange our called bonds, to put down the market
price to our figure ? May not some miracle happen whereby we, the
holders of $200,000,000 called bonds, can all supply ourselves out of
$25,000,000 “Fours,” without rasing their market price? Won’t tho
great European markets and investors, with cash in their hands, wait
awhile, hoping to buy on more favorable terras? What are we, the
National Banks, going to do with our $40,000,000 of called bonds still in
the Banking Department ? Can wo afford to wait until our called bonds
mature and then pay three, four or five per cent difference, or retire our
circulation and lose the interest on the Four per Cents, which as a basis
for circulation would be almost clear profit? How high will the Four
per Cents go? Do you really think our credit has reached tho basis of a
three and a-half per cent bond at' par ? What does London want of our
long Four per Cents at a premium when they can get their own three
per cent consols at a little under par? To what price must our Four per
questions

$44,084
5,922
200
690

4,494

are

Cents advance before the income will be reduced to the Income received
from British consols ?

Can

not do better next week, or next month,

we

All these questions, and hundreds of others,
are asked over and over every day.
One answer is certain, and that is that if “ Fours ” were not wanted
all these questions would not be asked ; and another is, if tho supply of
Fours ” was unlimited no such intense anxiety would exist. Since
or

next

fall,

or

next year ?

“

1870 the Government has had its hundreds of millions of bonds for all
Now thej' are all out, and investors have only to feed on each
other; this simple fact tells the whole story. Every year produces its
surplus income of hundreds of millions—the Government itself is paying
comers.

out for interest

on

the national banks

its bonds
as

an

much

average

more;

of nearly two millions

the railroads

as

a

week;

much more; the

savings banks, insurance aild trust companies as much more; States,
counties, towns and villages as much more; tho products of tho land,
of the

1877.

,

B1NKING

the last, we are so

Fri.

©mmitjcrciat autliTXisccnaiiC0Ws iHeujs.

^

$96,796

..

London Petroleum Market.—
Sat.
d.

$14,879 gold)

investors; and although only three days have elapsed since the issue of

Mon.
d.
9.
47 0
26 0
26 6
74 0
32 6
42 0

.

825

2,400
2,000

Tot. since Jan. 1, ’79 ($3,383,966 silver, and $578,144 gold)..$3,962,110
Same time in—
Same time.in—
Same time in—
1878...
$11,331,469 1874....
$1,570,462 1870
$6,942,245
1877...
6,690,109 1873....
1,773,977 1869
8,657,500
1876...
1,592,200 1S72....
684,578 1868
3,113,120
1875...
6,247,167 1871....
3,025,208 1867
1,056,570

29
89

Liverpool Provisions Market.9.

200

103 34

105%
108%

d.

24
8
7
9
9
8
9

675

Gold dust
Gold bars
Gold bullion...

Wed.
.9.

12,322

Foreign silver.
Am. gold

98%
98%

cotton.

on

1,947

Am. silver

50316

0813,«

98%
103%
105
29
89

89
38
22

50" 10

6,300
2,450'
%200
9,550

Am. silver
Am. silver
Am. silver

Fri.

Thurs.

50%

1055s
1085s

283s

...

Pennsylvania

.

1055s
108%
1047s

...

l

Tues.

537
300
305
395

..

Foreign gold...

Jeremio

May 17. Mav 19.Mav 20. May 21.May 22.May 23,

r

1

Havana

.

Money and Sto*k Market.—The bullion in the Bank
of England has decreased £232,000 daring the week.
•

Am. silver
Am. gold
Am. silver

..Mayaguez
.Mayaguez

London

!

.Curacoa

forest, of the mines double and treblo this amount, while all tho

varied industries of the land

swelling the grand total. All this
Government, which issues its
bonds running a generation and a half, free of all taxation, and pays
four per cent per annum interest, returning the principal at maturity.
With all this competition for tho bonds, and no more supply, can they
remain at one fixed price, and if not, will they go up or down?
In reply to the questions put to us we would say: first—we do not think
the Four per Cents too high until their income is reduced "below" three and
a half per cent, and this figure is, with present amount of accrued
interest, 109#25 ; and, second—wo do not think investors will do better
by waiting. We do not think holders of called bonds will gain anything
but experience by waiting. We think the European markets and cash
customers will soon hold all the remaining supply. We know that every
family north, east, south, and west, must, and wTill put part of their sav¬
ings into Four per Cents for safety from the thousand and one perils that
beset investments in every other direction. We know that the Four per
Cents are equal in income to the British consols until they advance to
over eighteen per cent premium.
We know that the largo amounts
recently bought of the Government by the National Bank of Commerce
and tho First National Bank and their associates are nearly all ex¬
hausted.
We bolieve if the price of the balance was advanced to flvo
per cent premium it would make little difference in the demand.
We do not forget that a few months ago wo placed the fives and sixes
of 1881 at the top of the list; neither do we forgot that the Government
has since knocked away the barrier between them and danger of redemp¬
tion at maturity, by doing in four months what it then appeared would
are

national wealth underlies the credit of the

be

good work for as many years.
As this may be the Last circular we
Cents are all gone, we would take this
many

shall issue before the Four per
occasion to thank the press and
friends for their cordial words of cheer in this undertaking to

market the “ last of the Four per

Cents.”

Respectfully,
FL9K &

HATCH.

Mat

THE CHRONICLE.

34, 1879. |

Closing prices of securities in London for three weeks past and
since Jan. 1, 1879, were as follows:

3£foje JJauhevs' <5a*ette.
No National Banks

the range

organized daring the past week.
FHlDATy MAY 23, 1879-5 P. M.

The

Money

Market

and

Financial

Situation.—The

activity at the Stock Exchanges in New York and other cities is
well kept up.
There is a mania in all the markets for things
which have not yet had their rise, and the bonds or stock of a
defaulting railroad are eagerly bought up if they are still purchaseable at anywhere near their average range of the last six
months. The present tendency to take up with low-priced secur.
ities is partly founded in reason, and partly otherwise.
The out¬
look for railroad property is unquestionably better, and many of
the

defaulted

roads have

starting out with

521

reduced

their

indebtedness and

are

U.
U.
U.
U.

8.
8.
S.
8.

May

May

May

9.

16.

23.

Range since Jan. 1, 1879.
Lowest.

Highest.

103% 103% 1033j 103*4 Apr. 19 Ill
Jan.
7
105% 105% 105% x05*4 Apr. 25 109% Jan. 4
109% x08% 108% 106*3 Mcli. 24 110
May 2
104% 104% 105*3 101
Meli. 26 105*3 May 22

5s, 10-40s
5s of 1881

4*39 of 1891
4s of 1907

State and Railroad

Bonds.—Most of the Southern State

secu¬

rities have been

strong, and there has been a demand for some
low-priced bonds which apparently have no prospect of
ever
being recognized. Louisiana consols sold to-day at 49. The
New Orleans Times of May 18, had the following, which should
be taken, of course, merely as one view of the status of affairs
of the

in the constitutional convention
*•

:

story that the convention will, at an early day, take a recess,
and re-asseiiible in the Fall, is being revived, and superficial indications,
especially those suggested by the small amount of business transacted,
The

lease of life. But on the other hand, with
substantially unchanged, arc calculated to strengthen this belief. Meanwhile Carondolet street
has made another count of noses. It discovers that 81 delegates present,
and which have never been able to earn their interest charges,
as an ultimatum, an acceptance of the debt at its face, with an annual
the case is different, and there is little reason to anticipate that
interest of 2 per cent for the first live years, 3 per cent for the subse¬
quent five years, and 4 per cent after the lapse of ten years. Fifty-three
they will show better profits in 1879 than an average of the two delegates favor the acceptance of the entire debt at 4 per cent per annum.
This wjis their determination at the assembling of the convention, and
years 1S77 and 1878.
tliejr have remained of that opinion ever since.”
The money market has worked more steadily than last week,
In railroad bonds there is no abatement in the general demand
and rates on call have ranged at 2£@4 per cent, according to the
nor in the
strength of prices. Every bond which has any pros¬
collaterals offered.
Prime commercial paper is in good demand
pect of ever paying interest finds a ready market, and many
at 4^44 per cent for choice grades.
bonds also which the less hopeful think have little prospect of
The Bank of England statement on Thursday showed a decline
ever paying any interest.
for the week of £232,000 in specie, but the percentage of re¬
The following were sold at auction by A. H. Muller & Son:
serve to liabilities was the same as last week, 5l£ per cent.
The
Shares.
Bonds.
36 Manhattan Gaslight Co .181 *-2 $1,000 Mob. & Montgom. RR.
nominal discount rate is 2 per cent, and the open market 1@14
1 st M., 7s,(roconstruct’n
200 WilliamsbTg Gaslight Co. 75
reo’t of Drexel, M.& Co.) 70*3
40 Automatic Signal Tel. Co.
per cent.
of N. Y., per share
1,650 Jefferson Ins.Co.,scrip,
$5 25
The last statemenbof the New York City Clearing-House banks,
viz.: $108 of 1872, $429
20 Automatic Sigual Tel. Co.
of 1873, $412 50 of ’74.
issued May 17, showed a decrease of $5,779,375 in the excess
of N.Y., per share,$7 25^7 50
5 Dry Dock E. Broadway &
$330 of '75, $214 50 of
above their 25 per cent legal reserve, the whole of such excess
’76, $33 of ’77, $33 of ’78 66
Battery lilt
85*2
28 Bank of Camden, S.C., for $1
6,400 Wab. & Erie Canal 5
being $10,308,625, against $16,088,000 the previous week.
322 Jersey C. Gaslight.. .146-145*2
p. e. prof, special canal
The following table shows the changes from the previous week
10 First Nat. Bk. of J. City.. 130*2
stock, for
$85
800 Wab. & Erie Canal 6
25 Union Nat. Bank
146*2
and a comparison with the two preceding years.
16 Bk.of N.Y.,Nat.Bkg.Asso.l27*2
p. c. loan, 30 p. c. of
anew

those roads whose circumstances remain

.

,

1879.

Differ’nces fr’rn

1878.

1877.

May 17.

previous week.

May 18.

May 19.

•

Loans and'dis.

$253,833,500

Specie
Circulation
Net deposits

..

.

Legal tenders.

$10,896,900 $233,122,600 $255,894,700
23.030,200
21,867,200
20,012,300
16,069,900
199,686,100 226,645,400
49.150.900 Dec. 4,425,800
52,437,700
41,020,100
In.

18.763.900 Inc.
18,300
19.685,400 Dec.
2,600
230,424,700 Inc. 5,487,500

United States

Bonds.—The demand for the 4 per cents is well

kept

up, and the Syndicate have every prospect of closing out
the balance of their $121,000,000 within a very short time.
It is
the only time within our recollection when a large government

loan has been

negotiated on the strength of a quasi “ corner ” in
this corner being based on the known fact that the
a certain
amount of government bonds wou'a be
obliged before a certain date to replace them with the new
bonds.
The London market is supplied for the present moment
by the $15,000,000 taken last week, but within a short time the
bankers anticipate that there will be a large demand from
the market,
holders of

Closing prices at the N. Y. Board have been
Interest
Period

1880
1880.s.-.
1881
1881

reg.
coup.
reg.
coup.

J.
J.
J.
J.

&
&
<k
&

as

follows:

4s, 1907|

6s, cur’cy,

6s,
6s,
6s,
6s,
*

of

cur’cy,
cur’cy,
cur’cy,
cur’cy,

May

17.

19

J. *106% *106%
J. *106% *106%
*107
J. *107
J. *107
107*4

Q.-Mar. *107*4
reg. Q.-Jan. *102%
coup. Q.-Jan. *102%
1895. .reg. J. & J. *124
1896..reg. J. & J. *124%
1897..reg. J. & J. *124*4
1898..reg. J. & J. *124%
1899..reg. J. & J. *124%
coup.

This is the price bid; no sale

May

May

May

20.

May

21.

22.

23.

106% *106% *106% *106%
*106% *106% *106% *106%
107% ,*107*3 *107% 107*3
107% 107*3 107% *107%

was

*107*4

107*3

*102% *102%
102% 103
*124

*124%
*124%
*124*3

*124%

124*4
*124%
*124*3
*124%
*125*3

107% *107% 107%
103*3 *103% *103*3
103%
-124

103*3 '103*2
*124

*124%
*124'4 *124*4 *125
*124*3 *124*3 *125%
*124*3 125*3 *125%
*125*4 *125*4 *126*4

made at the Board.

The range in prices since January 1, 1879, and the amount
each class of bonds outstanding May 1, 1879, were as

follows:
Rango since Jan. 1, 1879.
Lowest.

Highest.

..

1888

74,033,750
20,612,800
49,777,100
250,132,400
84,239,050
219,104,500

’78

53

22,000 United New Jersey
Co.’s 6s, 1901
1123*
10,000 Clev. City 7s, 1887 ..112*3
5,000 N. Y. City 7s, improvement stock, due D889....
.117*4

112*2

5,000 Williamsb’g Gas L. Co.

(scrip)
$90
Closing prices of leading State bonds for two weeks past, and
the range since Jan. 1, 1879, have been as follows:
May

May

16.

23.

*49
*107

49
*107

States.
Louisiana consols
Missouri 6s, ’89 or ’90
North Carolina 6s, old
Tennessee 6s, old

Virginia 6s, cousol

*

*23%
*34*3
*77%

*39*3

97*4i

Range since Jan. 1,1879.
Lowest.
47

Highest.

Mch. 18

1035s Mch.

69

Jan.

6

5 107*3 May 15
8 23*8 May 13

*23%

18

Feb.

*35*3
*80
*41*3

34

Apr. 26

42

Feb. 13

41% Apr. 29
79*2 Jan.
3

44

Mch. 28

88%

88% May 23

This is the price bid; no sale was made at the Board.

Miscellaneous Stocks*—The stock market

has been strong, as a
and

rule,

on a

fair volume of speculative busi¬

The

cutting among the trunk lines on East-bound freight
passenger rates is an unfavorable point for such stocks as

ness.

Lake Shore and

Michigan Central which depend considerably
upon through* business.
To-day, Hannibal & St. Joseph com¬
mon
and preferred were among the most active stocks, but
whether or not this road is to be brought into the Gould combin¬
ation does not appear.
The high-priced investment stocks are
very strongly held, and Rock Island further advanced on the
recent report.
Wabash and Kansas Pacific, the two principal
stocks which advanced from low prices under the recent com¬
bination, are well maintained at the higher figures. The gen¬
eral tone in the market is strong, although it is but a truism to
say that the margin for a further advance on most of the list
seems to be slight.
Total sales of the week in leading stocks were as follows.
Cert,
of N. J.

Coupon.

$81,098,900

25
Nov.,’79, coupons on
5,081 American Fire Ins. Co.
scrip, viz.: $681 of 1872,
$305 of ’73, $1,125 of
’74, $980 of ’75, $890 of
’76, $680 of ’77, $420 of

150
137*4

$2,000 N. J. State 6s, due

Amount May 1,1879.

Registered.

6a, 1880-1
cp. 105% Mch. 22 107*3 May 21 $201,637,450
6s, 5-20s,’67.cp.
53,723,200
6s, 5-20s,’68.cp.
14,9 L 1,600
5s, 10-40s. ..cp.
143,054,700
5s,fund.,’81.cp. x03% May i i07*3 Jan. 15 258.307.950
*%8, 1891 ..cp. 104 Mch. 21 108 May 21 165.760.950
4s, 1907 ....cp. x99 Apr. 1 103*3 May 21 334,259,200
6s, cur’ncy.reg. 119*3 Jan. 4 125*3 May 22
64,623,512




8 Panama RR. Co
55 Jefferson Ins. Co....
Bonds.

$21

7s, 1880
108
2,000 Mobile city 6s, 1905,

108
103

Rutgers Fire Ins. Co.... .177
Rutgers Fire Ins. Co
172
40 Equitable Ins. Co
180
8 Republic Ins. Co
70%

*

104:
101
fund., 1881...reg. Q.-Feb. *103% 103% 104 *104
104
104
fund., 1881..coup. Q.-Feb. *10358 103% 104
*103%
4*38, 1891
reg. Q.-Mar. 106% *106*8 *106*4 *106% 106% 106%

4*38,1891
4s, 1907

Tradesmen’s Ins. Co
Howard Ins. Co

Railroad and

May

principal paid, for
5,000 Cal. Pac. RR. lstmort.

Nat. Bank of Commerce.. 127
Nat. Citizens’ Bank
100%
Globe Fire Ins. Co
115*2

do
do
2d series..
Diet, of Columbia, 3-G5s

London.

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

21
30
20
80
40
13
21

May 17
“

“
“

“
“

19
20
21
22
23

Total.

..

North- iWest’rn Del. L.
west. U11. Tel. & West.

23,470

15,000

10.350

32,804

18.850

23,490

12,925
21,810
12,110
8,400
3,920

7,810

6,800
8,675
6,200
7,550

26,225
8,810
10,120
19.350

5,000(

4,120

135,185

63,075

28,283
19,328

!

St.
Paul.

79,855''

21,350
28,800

24,610
43,500

Erie.

10,690
32,875
15,640
19,155

Lake
Shore.

27,050

16,725
22,410
7,712

14,025

4.900

13,410

15,930

63,285 145,505 105,795

94,727

18,925
8,320

Whole stock. 175,400 154,042 149.888 3'^0.849 524.000 771,077 494.665

THE CHRONICLE

522
The total number of shares of stock outstanding
last line for the purpose of comparison.
The daily

pref.

88%

Chic. AN. W..

62M
93%

do

do
pref.
Chic. R. I. & P.
Clev. C. C. & I.

May 21.

50%

51%
84%

mi 40%
89 H

64)|

117%
48%
89%
63%
94%
139%
52%

49
89
64

95
i 91
139% 138
52%

96

96

«%

Col. Chic.&I.C.
Del.A H. Canal
Del.Lack.& W.
Erie
do pref
Han. & St. Jo.
do
pref.
Illinois Cent..
Kansas Pacific
Lake Shore....
Mich. Central.
Mo. Kans. & T.
Mor. & Essex..

6%
48%
57%
28%
52%
19%

50
58

28%

53%
20‘4
Wi

41$

87

87

pref.

Butro Tunnel.
Union Pacific.
Wabash
West. Un. Tel.
•

These

are

15%

14%

15%

:

88

28%
1(%
43 M

i

12%

it*

12%
25%
4%
74%

25)4
4K

74-M
38%

16
42
11
12

24%
4%
74%
38%

39%
114% 114

114

Canada Southern....
Central of N. J

Chicago A Alton
Chic. Burl.A Quincy.

!£*
»m
15%
; 14%
I

15%

^13%

112%

lii"

28%

28%
15%

16
42%

42

11

10%

12%
24%
4%

24%
4%

12

75 I 74J,
39%, 38%
114% 112%

..

200

45 % Jan.

135,185

33% Jan.

925

75

do

do
pref.
do
1st pref.
Butro Tunnel
Union Pacific
Wabash
Western Union Tel...

Mch.

25%
3%
4*6
9%
23s
57*2
17%
943a

17,510
6,100
3,925

2,751
12,495
10,170
91,386
63,285

Jan.

Jau.
Jan.
Jan.

Jau.

Jan.
Jau.
Jan.
Jan.

Jau.

Mch.
Jail.
Jan.

Jan.
Jan.

Jan.
Mch.

Jan.
Jan.
Jan.
Jan.

Jan.
Jan.
Jan.
Jail.
Jan.
Jan.
Mch
Jan.

1878.
Low.

High.

3
63% Mch. 15 38
45%
2 51% May 19
13% 45%
3
88
Jan. 28 66 34
85
7 12214 Feb. 19 99% 114%
4 49^8 May 21
27% 54 7q
4
90% May 21 64
84%
3
6538 Jan. 27 32% 55%
3 95 % May 21
59% 79%
8 141
May 23 983s 122
55
2
May 21 23
38%
2 98% May
6 63% 85
4
9
63s
2%
Apr. 29
2 50
May 19 343g 5970
2 58% May 21
41
617s
4
29% May 5
7% 22%
54
2
May 5 21% 38
4
23% May 23 10
1676
10 45 % May 23
21% 41%
Jan. 30 72% 87
26 89
21
60
4
Apr. 30
12%
6
75% May 7 55 7p 71%
2 90% Jan. 27
58% 75
4
18% May 15 /■ 2
7%
3
92% May 19 6738 89
24 120% May 19 103% 115
4
1658 May 10
6% 11%
13
157s May 20 12% 2378
2 150
131
May 20 112
4 112% May 21
85
102
2
5
30% May 23
15%
2
17% May 2
3%
7%
O
19
45% May 1
26%
8
1138 Apr. 21
1%
4%
21
13% Apr. 21
1%
5%
23
28% Apr. 19
5% 11%
16
5
478 Mch. 17
3%
31
Feb. 19
81
61% 73
13 39% May 21 12% 23 7s
7 114 % May 20 75% 102
'

Jan.
Jan.
Jan.

Jail.
Jan.

Range for
-

Highest.

4,027 111% Jau.
34^8 Jan.
63,075

..

St. L.A 8. Francisco.

in prices for 1878 and

Lowest.

Chic. Mil. A St.P..
do pref.
do
24.152
74%
79,855
4958
Chicago A North w...
do pref.
do
76 %
26,635
Chic. Rock Isl. A Pac.
13,273 119
Clev. Col. Cin. A Ind.
34%
30,952
Clev. A Pittsb., guar.
2,861
84%
5
Col. Chic. A Ind. Cent
6,320
Del. A Hudson Canal1
38
12.340
Del. Lack. A Western 145.505
43
Erie
21%
105,795
do pref
37*2
9,910
Hannibal A St. Jo.
13%
37,120
do pref.
do
34
22,145
Illinois Central
79*4
1,739
Kansas Pacific
9*e
3,450
Lake Shore
67
94,727
18,030
73%
Michigan Central....
Missouri Kan. A Tex
538
11,225
Morris A Essex
12.382
75%
N. Y. Cent. A Hud. R.
3,806 112
Ohio A Mississippi...
7%
31,635
Pacific Mail
25,770
1038
Panama
350 123
Pitts. Ft. W. A Chic..
331 101
St. L. I. Mt. A South.
13
20,540
St. L. K. C. A North.
1J ,000
7

The latest railroad

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

tioned in the second column.

/—Latest earnings reported.—, ,-Jan. 1 to latest date.--.
Week or Mo.
1879
1878.
1879.
1878.

Ala. Gt.

Southern.February
Atch. Top. & S. F.2d wk May
Atl. & Gt. West...February
.

.

Atlantic Miss.&O. March

Bor. C. Rap. & N 2d wk May
Burl. AMo.R.inN March
Cairo A St. Louis. 1st wk May

$33,094
159,500
328,387

$32,555
83,232
255,878

132,802
23,763

129,105
30.579

147,542

150,304

4,924

Central Pacific...April
1,437,000
Chicago A Alton..2d wk May 100,163
Chic. Burl. A Q...March
1,071;738
Chic. & East. Ill.. 1st wk May
16,382
Chic. Mil. & St. P.2d wk May 188,000
Chic. ANortli west. April
1,130,475
Chic. St. P. & M. .2d wk May
20,758
Clev. Mr. V. A D.. 1st wk May
7,283
Dakota Southern.March
17,739

Dubuque AS.City.lst wk May
Gal. Har. A S. An.March ...."
Gal. Houst. & H..April
Grand Trunk. Wk.ena.May 10
Gr’t Western. Wk.end.May 16
Hannibal & St. Jo.2d wk May
Houst. & Tex. C..March
Illinois Cen. (Ill.)..April
do
(Iowa).April

Indianap. Bl. AW. 1st wk Apr
lut. & Gt. North..2d wk May
.■Kansas Pacific.. .2d wk May
Mo.Kans. & Tex .2d wk May




exchange market remains steady on a fair
are less important as a
controlling influence than the movement in bonds, and thus far
the movement from abroad has not been so large as to call for
shipments of specie.
To-day, sterling bills were firm, on the
basis of 4 87£@4 87| for 60 days, and 4 89@4 89£ for demand.
In domestic bills the following were rates of exchange on
New York at the undermentioned cities to-day : Savannah—
selling 5-16, buying, nominal, 3-16.
Charleston—very scarce,
selling 3-16, buying
New Orb ans—commercial. £ premium,
bank ^ premium.
St. Louis—1-10 discount.
Chicago—weak,
buying 1-10 discount, selling 1-10 premium; and Boston, 20 cents
per 1,000 discount.
Quotations for foreign exchange are as follows:
Exchange.—The

120

Prices since Jan. 1, 1879.

Sales of
Week.
Shares.

-

*

6,715
1,529,255 4,871.857
85,305 1,498,904
1,169,831 3,159,213
15,385
176,259 2,748,000
1,255,887 4,135,461
17,120
358,449
6,888
121,053
16,866

14,897

18,154

106,619

88,801

27,812

23,046

151,916

150.269

71,007
27,535
212,946
391,073
111,054
22,837
18,693
99,689

77,840
30,774
174,528
406,800
127,038

45,595

$67,035
2,059,474
637,508
364,147
471,751
408,136
75,970

28,903

17.954
63.183
47,122

.

54,578

265,631
158,776
3,123,647
1,602.862
679,758
715,007

1,637,036
432,371
286,932
548.386

1,359,462
893,879

54.095

25,462

April

The mercantile transactions

$69,885
1,106,343
554,854
389,577
608,825
352,376
69,876
4.849.364

1,44 8,758
3,126,448

3,193,693
4,514.519

318,986
126,340

48,905
346,025
125,217
3,273,858
1,784,179
619,512
619,613
1,677,445
528,848
348,883
463,103
1,068.013
931,666

60

May 23.

tha prices bid ana asked; no sale was made at the Board.

Total sales this week, and the range
since Jan. 1, 1879, were as follows:

dates

66.100
81,565

business.

;

16%

May

741,862

464,800
476,834
2,354,564 2,425.430
110,324
93,129
4,039
53,040
70.771
188,511
662,524
589,514
695,334 2,876.222 1.894,724
8,527
166,421
193,299
66,977 1,492,084 1,481,412
75,187 1,216,654 1,173,946
87,940
349,106
349,635
138.784
48,861130.669
9.1,199
20,788
65,849
72,833
33,486
87,570
56,992
178,767
119,415
25.990
414,399
472,582
679.768 1,438,302 1,377,268
90,672 1,469,813 1,676.191

.

87%
; 59%
74%

43%
11%
12%
25
4%
75
39%
114%

St. L. K. C. & No..2d wk

Valley

1879.

638,020

143,257*

Sioux Cirr A St. P.March
30,161
47,159
Southern Minn.. March
Tol. Peoria A War. 2d wk May - 18,366
Union Pacific
February
747,761
Waba3h
,.2dwkMay
71,999

28%
52%

I

79,210

Scioto

58%

112% 112%
28% 29

May

1878-

1878.

115,325

1,121,412
5,431

8,780

St. L. Iron Mt. & S.2d wk
St. L.&Southeast.April
St. Paul <s S. City.March

49%

*149 152

*148

8t.L.& S. Fran,
do
pref.
do 1st prf.

14%

Mobile & Ohio
April
119.193
Nasbv. Ch.& St.L.March
149,497
N. Y. L. Erie & W. February .1,207,391
Pad. A Elizabetht. 1st wk May
4,222
Pad. & Memphis.. 1st wk May
2,211
Pliila. & Erie
March..... 212,776
Phila. & Reading.March
1,04L,142

St.L.A.&T.H. (hrs)2d wk May

117%
49%
89%
64%
95%
140%
53%
96%
7%

74% 74%
81%
17% 18%
91% 92
119% 120%

Pitts.F.W.& C. Ill
St.L&I.M .assn | 27%
St. L. K.C.&N. 15%
do

118%
4'90
6'
95
140
55
96%
6%
50
58%
28%
53
20%
42%
87%

81

N.Y.C.&H.R.
Ohio & Miss...I 15
Pacific Mail...! 14*
Panama

*3j

94

118% 117%

Clev.AP.,guar

Friday,
May 23.

May 22.

reported.—. /—Jan. 1 to latest date.--.

1879.

WeekorMo.
..

*59

59%

Canada South.
Cent, of N. J..
Chic. & Alton.
Chic. Bur. & Q. 115%
Chic.M.& St.P. 48

Wednes.i Thursd’y,

Tuesday,
May 20.

Monday.
May 19.

/—Latest earnings

is given in the

highest and lowest nrices have been as follows:
Saturday,
May 17.

[Vol. XXVI1U

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

Documentary commercial
Paris (fraucs;
Antwerp (francs)
Swiss (francs)

4.87%®4.88%

4.8914®4.9D

4.86%®4.87%
4.86%® 4.87%
4.85%® 4.86%

4.89

®4.89%

4.89

®4.89%

5.18%®5.14%

5.13%®5.12%
5.14%®5.13%
5.13%®5.1*2%*
,4058® 40%
96 ®
9fP*
96 ®
96%
96 ® 96%
96 ®
96%

Hamburg (reichmarks)
Frankfort (reichmarks)

95

,

following

are

3
X X Reichmarks. 4
3
X Guilders
Span’h Doubloons. 15
Mex. Doubloons.. 15
1
Fine silver bars
Fine gold bars....

Napoleons....

..

Boston

banks for

95%

quotations in gold for various

$4 86

Sovereigns

®

83
73
93
55
50

®$4 89
3
4
4
®15
®15

®
®
®

88
78
00
90
65

10*2® .1 11*4

par.®n4prem.

Dimes A % dimes.
Silver %s and %s.
Five francs
.*
Mexican dollars..

English silver

Prus. silv. thalers.
Trade dollars
New silver dollars

Banks.—The following are
series of weeks past:

®

—

5.18%@5.15
40% ® 40%
95 ® 95%
95 ® 95%

Amsterdam (guilders)

The

Demand.

daj'S.

—r

coins:
—
—

98%®
90 ®

—
—

99%
99%.

—

68

®

—

95
88:
80
70

—

9858-®

—

99%

—

993*®

—

par.

—
—

93
87

4 75

®
®

—
—

® 4

the totals of the Boston

a

Loans.
1878.

S

Dec. ft.
Dec. 16.
i ec. 21.
DtC. 30.
1879.
Jau. 6.
Jan. 13.
Jan. 20.
Jan. 27.
Feb. 3.
Feb. 10.
Keb. 17.
Fe >. 24.
Mar.
3.
Mar 10.
Mar. 17.
Mar. 24.
Mar. 31.

127.376.300
127.483.800
128.6m9,70J
130,093,300

Specie. L. Tenders. Deposits. Circulation. Agg. Clear
t
$
s
46,164,102
8,112,900
2.779.900
58,016,900 25,400,000
7.483.500
42,353,38*
2.630.500
55,932.800 25.937.200
56.433.300 25,424,700
45,064,725
7.296.300
2.659.900
6,416,400
56.217.600 25.359.400
38,488,361
2.851.300

13?,220,000

3.851.900

6,126,830

'59,525,100

134.650.600
135,r. 45, Vi 00

3,898,610

5.932.800
5.419.700

61,1*0.400
60.968.600

136.790.600
139,979,500

3.822.500
3.927.500
3,8»H,200

5.230.200

63,747,200
64.796.300

139,^91,100

3,>35,9u0

5,127 900
4,720,20)
4,4 6,500

64.190.100
t9,770,300
68,215,910
70,326,700
67,028,300
65.677.100

25.616.400
25,634,300

52,163,732

25.61

46,764,891
43,763.114
41,620,428
47,534.40*

\600
25.500.100
25.486.600

25.566.800
25.545.800
25.481.100
25,399,^00
25.613.100
25.562,000
25,445.500
25.438.200

49,172.687

47,(30,361
3.708.300
45,834,138
4.273.300
3.545.700
46,349,291
3,625,7(10
4.324.300
4.656.500
48,733,821
3.664.500
45,738,465
3.649.900
4.750.300
46,907,5®
4,713,630
3,620,800
64,050,100
39,857,030
3,644,000
4,59),000
63,4(5,100
140,033,100
44.676,942
4.294.700
3, t,46,200
64,221,500 25,827,890
Apr. 7. 139,001.100
47.207,392
3,684,-.00
3.805.800
63,371,0.0 26.014,200
Apr. 14. 138.300.400
51,936,677
3.483.700
62,99 ,000 26,215,COO
3,65\800
Apr. 21. 137.469.400
47,978JJ40
3.827.800
60,252,400 26,'30,200
3.627.700
Apr. 28. 134, f 92J 03
50.505,511
60,<>23,900 26.299.600
3.600.100
3,863,000
May 5. 133,22-,500
4.194.300 *42,865,800 26.228.800
50,552,fl7
3,593,'00
May 12. 132.953.200
48,456.24?
3.589.200 *44,103,900 *6,218,400
2.556.100
May 19. 130^296,000
*
Other than Government and banks, less Clearing-House checks.
144,980,0(0

143.799.200
141.969.200
141,623,700
141.308.300
140.442.800

Philadelphia Banks.—The totals of the
are as

Philadelphia bank*

follows:

Specie. -L. Tenders. Deposits. Circulation.

Loans.
1879.

8

$

Dec. 9.
Dec. 16.
Dec. 23.
Dec. 30.
187 9.
Jan. 6.
Jau. 13.
Jau. 20.
Jan. 27.
Feb. 3.
Feb. 10.
Fen. 17.
Feb. 24.
Mar. 3.
Mar. 10.
Mar. 17.
Mar. 2).
Mar. 81.
Apr. 7.
Apr. It.
Apr. 21.
Apr. 23.
May 5.
May 12.
May 19.

57,714,763
57,353 6 .'8

1,996,059
2,056,397
2,168,142

57.107.459
56,949,772

2,461,523
V

-

$
12.740,471
12,640 356
13,220,343
13,127,307

.

y

*

44,650,121
44,903,227

37,596,551
28,809,821
32,20&91«
26,410,362
32.976.32S
31.836.979

44,240,0o5

•

57,272,281

15,873.233

45.698.721

11,364.651

57,777,347
57,673.649
57,614.478
57,138,02)
5B,74(,6S4
56,942,785
57,0 i 2.143
57,600,832
58,268.234
58,486,555
18,506,715
59,006.342
59,91)4,059
60.554,971
60,548.117
60,122,582
60,174,972
59,914,320
60,160,886

15,5(6,56?

45,030,2(9
45,520,021
45,26 i,816

11,343,315
11,340,673

15,401,731

15,688,058
15,950,850
16,549,118
15,914,566
15,754,299
15,947,786
15,9 <9,655
15,859,150
15,360,5.66
14,8*40,993
13,701,732
14,022,748
14,516,885
24.369,637
14,9)8,989
15,353.558

16,138,678

*

$

11,386,822
11,384,-75
11,*79,546
11,371,466

44,816,112

45,686,154
45,273,026

44,94<',027
44,516,408
45,878,745
46,028,638
46,336,572
45,763,4°8
45,256,362
45,111,147
46.55*2 535

47,238,852
47,044,599

47,626,368
47,7c6,056
49,143,4.0

11,325.5 Z

11,310,790
11,309,1-56
11,31)6,127
11,338,4)4
11,321,223
11,347,059
11,355,472
11,361,550
11,422,038
11,5 0,122
11,509,940
11,510,236
11,508,643

11,4 8,821
11,492, 97

11,476,011

33,644,739

20,942,358
30,748,6*2
33,163,572

30,293,686
27.312,892

31,157,912
36,371,591
29,556,398
31,233,063

29.945.441

38,653,745

30,561,240
88.407.056
34.295.148
37,642,885
an

Aid

Jfi.v

THE CHRONICLE.

at, 1879.]

New York City Banks.—The following statement shows the
condition of the Associated Banks of New York City for the week
ending at the commencement of business on May 17,1879 :

Capital.

$
New York

2,000,000
2,050,000
2,000,000
2,000,000
1,200,000
3,000,000
1,000,000
1,000,000
1,000,000
600,000
300,000
1,000,000
1,000,000
300,000
300,000
200,000
600,000
300,000
800,000
5,000,000
5,000,000
1,000,000
1,000,000
422,700
1,500,000
450,000
412,500
700,060
1,000,000
500,000
3,000,000
600,000

Manhattan Co...
Mechanics’...—
Merchants
Union
America
Phoenix

City
Tradesmen’s...,..

Pulton
Chemical
Merch’nts’ Excb.
Gallatin Nation’l
Butchers’&Drov.
Mechanics’ A Tr.
Greenwich
Leather Man’f’rs
Seventh Ward...
State of N. York.
American Exch..

Broadway

Mercantile
Pacific

Republic

Chatham

-People’s
North America..
Hanover

Irving
Metropolitan....
Citizens’
Nassau
Market

St. Nicholas
Shoe A Leather..
Corn Exchange..
Continental
Oriental
Marine

Importers’ & Tr..
Park

Mech. Bkg. Ass’n
Grocers’
North River
East River
ManuPrs A Mer..
Fourth National.
Central Nat
Second National.
Ninth National..
First National...
'Third National..
N. Y. Naf. Exch..

Bowery National
N. York County..
Germ’n Americ’n
Chase

Rational,.

Legal
other
Tenders. than U.
S.

Specie.
$
494.500
410.500
493,000

8,3§7,000

$
1,032,500
1.993.700
1.160.300
1,197,800

6.485.200
7.423.900
561.600
7,032,200
694.700
293.400
4.110.200
547,000 1.505.700
8.726.500
290,000
185,000
2,352,000
7.158.300 1.306.900 1,366,000
238.300
217,600
3,028,800
442.900
205.100
1.442.300
11,782,100 1.563.900 2.291.300
203.600
550,000
3.309.400
465.500
58,600
3.723.600
118,000
174,000
1,259,000
204,000
51,000
1,174,000
12.500
138.200
832.700
450.800
200,700
2,889,000
915,000

62,800

2.548.300
11,741,000

6,100
1,181,000
1,343,800
382.300
369.100
64,000
106,000
103.300

12,323,200
5.869.800
3,366,000
2.122.800
3.858.100
3.187.800
1.323.800
1.789.500
5.892.200
2.143.500
12,046,000
1.506.600
1,000,0001 2,031,100
2.210.100
500,000
1,778,100
500,000
3,102,000
500,000
3.766.200
1,000,0 0
3.486.200
1,000,000
1.403.400
300,000
2,380,700
400,000
16,598,700
1,500,000
2,000,000 11,266,000
612,800
500,000
534.700
300,000
733,200
240,000
738,100
250,000
470,400
100,000
3,200,000 15,042,700
7,382,000
2,000,000
300,000
2,439,000
3,644,000
750,000
7.744.900
500,000
5.787.200
1,000,000
1,295.000
300,000
1,170,000
250,000
1.107.800
200,000
2,028,500
750,000
300,000
3.385.900

Commerce

Net dep’ts

Loans and
discounts.

199.700
483.100
1.456,000
5,271,200
493.700
360.700
612.800
411,300
696.100
223.200
202,000
984,000

49.800

83,000
537.400
114,800
451,000
99.700

390.900

1,809,000
376.100

19.100
28.900

24.700
329,000
66.100
5,500
46,000
32.200

1,010,000

527.600
78,000
5,500
40.900
84.200
1,000
1,111,100
448,000
166,000
808.600
1,180,100
885,000
57.200
23,000
24.800
130.400
66,400

192.500
429.100
299.500
462,000
475,000
1.125.300
180,000
540,000
3.918,100
3,033,900
52,200
121.100
91,900
150,000
111.700
2,884,400

1,487,000
462,000
691.200

1,360,900
1,001,100
178.900

254,000
307.900
192,800
564,000

Circula¬
tion.

$

7.768.800
6,096,600
0,545,200
6,090,800
3.244.900
6.659.900
2,010,000
7.803.800
1.864.500
1.232.900
11,707,700
2,071,400
2.139.600
1,024,000

$
44,000
500

78,900
44,500
133,500
1,100

263,000
773,900

526,800
529.400
259,000
198,000
2.700
391.400
36,400
45,000
175,000
1,024,100
889.500
179.900

1,008,000
784.300
2.358.300
901,000
2,055,400
8,594,000
10,681 900
3.638.200
3,030,500
2.183.500
1.985.400
742.400
3.131.400
399.500
1.280.400
5,400
1,589,000
5.910.500
270,000
2,001,600
210.900
8,913,000 2,170,000
246,700
1,630,000
1.833.600
1.771.700
1.254.900

2.912.100
2.555.900
3.710.900
1.254.700
2,252,000
18,400,300
14,253,000

3,900

346,000
450,000
445,000
4.700

781,300
1,101,200
354,000

531,500
306,800

521,200
486,800
707.600
633,400

144,000

437.600

14,077,500
0,900,000
2,536.000
3.654.300
9,044,000
15.961.100
852,900
887.300
1.238.400
1.783.200
1.961.200

1,050,300
1,460,000
269,000
397,000
45,000
799,300
268,500
224,400
180,000

270,000

00.875,200 253,838,500 18,763,900 49,150,900 230.424,700 19,685,500

Total

The deviations from returns of previous week are
Inc .$10,896,900

J«oans and discounts

Inc.
Dec.

.'Specie
Legal tenders

The following

are

Loans.
$

1878.

18,300
4,425,800

follows

:

Inc. $5,487,500
Dec.
2,600

a

series of weeks past:

L. Tenders.

Deposits. Circulation. Agg. Clear

Nov. 30...
Dec. 7...
Dec. 14...
Dec. 21...
Dec. 28...
1879.

236.438.400
239.815.500
238/147,200

19.610.300
19.617.800
19.577.500
19.593.100
19.601.200
19.889.700
19.904.300
19.905.400
10.909.400
19.961.900
20,007,000
20,058,200
20.141.600
20,077,000
10.576.700

333,606,566
370,111,767
453,971,364
424,149,900
482,291,920
392,878,293
488,571,553
408,903,425
460.572.737
404,037,742
368,238,669
436,695,221
380,741,510
421,244,872
325,096,134

Jan.

4...

Jan.
Jan.
•Jan.
Feb.
Feb.
Feb.
Feb.
Mar.
Mar.
Mar.
Mar.
Mar.

11...
18...
25...
1...
8...
15...
81...
1...
8...
15...
22...
29...

234,250,000 20.986.200 41,832,000 206,173,000
230,682,000 18.902.400 45,055,400 206.482.200
233.168.400 17,344,000 49.965.800 211.590.600
234.416.200 17.431.700 53.599.600 214.981.200
238.241.400 18.633.300 54,048,800 219.219.200
242.280.200 17.849.300 51.135.400 219.387.300
244.186.500 18,059,500 48.334.800 217.271.200
244,007,000 17.931.300 45,377,000 216.382.600
246.716.900 16.456.500 42.651.800 213.429.700
247.874.200 10.945.200 40.593.800 213.293.100
240.324.500 17.312.400 39.173.400 210.563.300
243.839.800 18.803.700 36.972.600 206.591.400

19.848.800
19,785,000
19.707.600
19.617.600
19,486,000
19.427.100
19.398.800
19.335.900
19.232.400
19,236,000
10.335.200
19.290.900
19.512.100
19.635.500

411,598,790

Sep. 28...

Apr. 5...
Apr. 12...
Apr. 19...
Apr. 26...
May 3...
May 10...
May 17...

235.974.100
235.824.400

240.458.500 18.446.800
235.830.800 18,365,000
230.442.900 18.903.900
231.151.300 18,875,000
231,096,900 18.228.100
239.357.800 18.516.200
242,941,600 18.745.600
253.838.500 18.703.900

34.268.900
31.815.800
36.145.400
40.672.100
45.224.500
49.440.500
53.576.700
49.150.900

424,413,225
486,222,549
507,331,749
611,074,082

493,410,515
452,720,483

434,908,904
516,297,775
501,321,270
400,417,429
413.892.738
198.945.600
399,872,657
193.121.700
401,180,057
195.303.700 19.696.100 423,259,559
200,255,000 19.721.200 487,843,450
204.514.200 19.707.600 503,108,030
214.331.700 19.683.100 546,798,625
224.937.200 19,688,000 591,290,770
230.424.700 19.685.400

QUOTATIONS IN BOSTON. PHILADELPHIA AND OTHER CITIES.
Bid. Ask.

SECURITIES.

.

....

Atch. A
do
do
„

Boston

Vermont & Canada, new 8s..
Vermont & Mass. KR.,6s
113* 114
8TOCKS.
land grant 7s 113* ns*;

Tcpeka 1st m.7s

do

an

do

2d 7s

115%

lanrt inc. Bs..

103

116
109

Albany 7s
68

Boston A Lowell 7s

Boston A Lowell 6s
Boston A Maine 7s

117

gocton A Providence 7s

.Burlington & Mo. In Neb
117* Cheshire preferred

_

Passumpslc. 7s, 189,".

“••tern,Mass.,8s,new.

frteWmrgKB., 6s..!
_

wo

“•Clty
do

...

73

75

7s

Tog.A W„7s,
1st
7s, inc..




Atchison A Topeka

Boston & Albany.
(Boston & Lowel*
Boston & Maine

Boston & Providence
..

BorL A Mo., land grant 7s.... 115* 110
do
Neb. 6s
105% 106
do
Neb.8s, 1883 ....
A

Ogdensb. & L. Champlain ...
do
pref..

Chic. Clinton Dub. & Min....
Cln. Sandusky A Clev

114

114*
133*

09*

113
115
128
23

!?*
H3

16
58

L10
129

23*

“V* "7*

79
Concord
141
Connecticut River
Conn. & Passumpslc
Eastern (Mass.)
15*
Eastern (New Hampshire)...

Fltchbhrg. ••••••••••
Kan. City Top. A Western...
Manchester & Lawrence.... 136

143*
43
16

138

Bid

SECURITIES.

Ask.

Phil. A R. cons.m.6s,e.l.l911.
do conv. 7s, 1893*
do
Co

17

do

01*

do

»•••

42

78, coup, off, *93
C.A 1. deb. 7s>2
deb. 7s. cps.oil

40

34

...

18*
'18*

7s,w’t’rln,rg. Acr. 112*

do

7s, str.irap.,reg.,’83-36« 104
N. Jersey 6s, reg. and coup...
do
exempt, rg. A coup.
Camden County 6s, coup
Camden City 6s, coupon
do
7s, reg. A coup
no

Delaware 6s,

do m. co^v. g., rt

109

coupon

RAILROAD

STOCKS.t
41
47

12%

do
pref.....
do
new pref
Delaware A Bound Brook....
East Pennsylvania—
Elmira A Williamsport.......
do
do
pref..
Har. P. Mt. Joy A Lancaster

Huntingdon A Broad Top...
do
do pref.
Lehigh Valley
Little

Schuylkill

iilnehlll

...

Norristown....
Northern Pacific

05

13%

Pennsylvania .. .,
Pennsylvania
Phllanelphta A Erie....
Pnlladelphia A Reading....
Philadelphia A Trenton
Phlla.Wllmlng. A Baltimore
Pittsburg Titusv. A Buff—
St. Paul A Duiuth R.R. Com
North

12*
44*
42
90

'3*

7
38
45

47

36*
10%
19*

2i%

51
135

Moms
do
pref

Pennsylvania
Schuylkill Navigation
do

pref...

Susquehanna

...

.

38*
46
54

10

7*

5s,perp

do

Harrisburg 1st mor*. 6s, ’83..
H. A B. T. 1st m. 7s, gold, ’90

2d m. 7s, gold, ’95.
do
8d m.cons. 7s,’95*.
Ithaca* Athens 1st g d,,18.,’SO
Junction 1st more. <H, ’82
2d mort. 6s, I960
do
L. Sup. A Miss., 1st m., 7->, g.*
Lehigh
Valley, lst,6s,cp., 1898
B
do
do reg., 1893...
do 2 i m.,7s, reg., 1910..
do
con. m.,6s,rg.,l923
do
do
6s,< p.,19.8

ft*
20

5%

14 i*

22%
53

10*
8*

107

HO

113

102%

—

....

115*

110*

fcO*

iia

110
116
12J
04
104

Little Schuylkill, 1st m. 7s,V2
North. Penn. 1st m.6s, cp.,’85.

2d m. 78,cp., ’96. 118
gen. m. 7s, cp., 1903. 115
gen. m. 7s, reg., 1903 115
fcO
Oil Creek 1st m. 7s, coup.,’8’.
pittsb. Titusv. A B., 7s, cp..’96 31
do
do
do

scrip....
123
105
114

In default.

% Per share.

•

•

110

lie
117

Par
100 109* 110
Wash. Branch. 100 140

Central Ohio

50

Pittsburg A Connellsvllle..50

*4

if*
1

i7*
5

27
5

29

BONDS.

Balt. A Ohio 6s, 1880, J.AJ....
do
6s, 1885, A.AO.
N. W. Va. 3d m..guar.,’85,JAJ
Plttsb.A Connell8v.78,’98,JfcJ
Northern Central 6s, ’85, j&J
do
6s, 1900. A. AO
do 6s, gld, 1900, J.AJ.
Cen. Ohio 6s, 1st m.,’90,M.A 8.
W. Md. 6s, 1st m., gr.,’90,J.AJ.
do
1st m.t .890, J. A J...
do 2d m.,guar., J.A J....
do
2d m., pref
do 2d m.,gr. by W.Co.JAJ
do 6s. 3dm.. guar..
guar., J.A J.
Mar. A Cln. 7s,’92, F. A A ...
do
2d, M. A N
do
8s, 3d, J. A J.
Union RR. 1st, guar., J. A J..
Carnon endorsed.
do
.

102*

108
105

109* 111
103*
106
1' 3
107
115
104
115
92
108

110
01

108
105

ioo
120

108

108

MISCELLANEOUS.

102

13*

Cincinnati 6s
t
do
7s
t
do
7*80s
t
do
South. RR. 7*30s.-f
do
do
6s, gold, t
Hamilton Co., O., 6s. long., .t

51

7s, lto 5 yrs..t

do
7 A 7*30s, long.f
Cln.A Cov. Bridge st’k, pref.
Cln. Ham. A D. 1st m. 7s, ’80 +
do
2dm. 7s, ’851
Cln. Ham. A Ind., 7s, guar....
Cln. A Indiana >st m. 7s
do
2d m.7s, \7..t
Colum. A Xenia, 1st m. 7s. ’90
Dayton A Mich. 1st m. 7s, '81+
do
2dm. 7s,’84.+
do
3d in. 78, ’88+

13%

109

114% 1*15
103
100
101

108
100

104

102
110
•

•

• •

100* 101
100
£0

Kg* 105
104

106

101% 102
100

95

Dayton A West. 1st m., ’81 —+ 100
do
' 1st m., 1905.+ 90
do
1st m. 6s, 190. t«5
Ind. Cln. A Laf. 1st m. 7s
do
(I. AC.) 1st m. 78,’88+ 102
Little Miami 6s, ’83
+ 100
Cln. Ham. A Dayton stock..
25
Columbus A Xenia stock

Dayton A Michigan stock....
121
do
8. p.c. Bt*k,gua>
lu7* Little Miami stock
103
LOUISVILLE.
Louisville 7s
t
116
do
6s,’82 to ’87
+
n«*
do
6s, ’97 to ’94
+
110
do
water
6s,’87
’89
to
+
110
do
water
stock
6s,’97.+
c4
32

100
108
115

+ And Interest.

‘

25*

100

105* 103%

103
500
100
100
100
do
wharf 6s
.+ 100
do
spec’i tax6s of *89.+ 100
Loul-vllle Water 6s. Co. 1907 + 105

‘

90

110
22* 25

Jeff. M.Al.lstm. (l&M) ?b,’8lt
103
do
2dm., 78
do
gen. m. 6s, cp., 1910
do
1st m.,78,1906....+ 112
do
gen. m. 68, rg., 1910. U5*
Loulsv.C.ALex. 1st m.7st’97f 108*
do
cons. m. 6*, rg., 1905 108
no¬ Louis. A Fr’k.,Louisv.ln,6s,’8:
do
cons. m. 6s. cp., 1905. 107
Loulsv. A Nashville—
do
Navy Vard 6s, rg.’rflj
Leb. Br. 6s,’86
t 101
Pe n. ro , 63. reg
102
lstm.Leb. Br. Ex.,7s,’80-85. + 100*
Perklomen 1st m.6a,coup.,’97 30
Lou.
do
In.
68,
’s»3.
.+
100*
lo?
Phlla. A Erie 1st m.6s, cp.,’81 105
Jefferson Mad. A Ind. stock. 103*
do
2d m. 7s, cp.,’98.
ST. LOUIS.
Phlla. A Read. 1st m.6s, ’43-’44.
St. Louis 6s,lot>g
t 104*
do
dD
*48-.49
do
water 6s, gold
ti 105*
i.20
do
2d m., 7s, rp.. Sf 118
do
do
new.f 105*
do
do
deben., cp., w
do
30
bridge appr., g. 6s t 105*
do
do
cps. ok. ■34
do
renewal,
70
gold,
6s.f 105*
do
scrip, 1832
71*
ao
sewer, g. 6s, ’9i-2-3.t 105*
70
do
In. m.7s, cp.1896 75
St. Louis Co. new park,g.6s.f 107
do cons. m. 7b, cp.,191!..
cnr. 7s
do
t 109
do cons. m. 7s, rg.,1911.. 114
114%
•

• •

railroad stocks.

do

no*

46

•

CINCINNATI#

...

115

•

« • •

.

113
i 17
117
115

People’s Gas

...

Pa.AN.Y.C.A RR. 7s, 1896 ...
Pennsylv., 1st m., «s, cp., ’80..

6s,exempt,’93,M.AS
J
J

110
111
100
l< 8
110

Baltimore Gas certificates... 100

34*

102

75

100
75

109* 110

..

do
1900, J. A
do
1902, J. A
Norfolk water, 8s.

do

do

do

6s, exempt, 1887

do
69,1890, quarterly,
do
as, quarterly. .. .
Baltimore 6s, 1S8I, quarterly
do
68, ;8S6, J.&J
do
6s, 1899, quarterly...
do
6s, park, 1890,<4.—M.
do
6s, 1893, M. AS

13*
do
Parkersb’g Br. .50
60% Northern Central..
50
4^* Western
Maryland
50

113* 113%

102
104
.00
112
11
...

•••

104

51* Balt. A Ohio

railroad bonds.

Allegheny Vai., 7 3-lOs, 1896...
do
7s, E. ext., 1910
do
inc. 7s, end.. ’94
Belvidere Dela. 1st m., 6s,1902.
2d m. 6s. ’8>..
do
do
3d m. 6s, *37..
Camden AAmboy 6s,coup,’43
do
6s, coup., *89
mort. 6s, ’89—
do
Cam. A Atl. 1st m. 7s, g., 1903
do
2d m., 7s, cur., 1879
Cam. A Burlington Co. 6s,’97.
Catawissa 1st, 7s, conv., ’s2...
do
chat, m., 10s, ’8°
do
new 7s 1900
Connecting 6s, 1900-1904..._
Chartlers Val., 1st m. 7s,C.,l90i
Delaware mort., 6s, various..
D*q. A Bound Br., 1st, 7s. 1905
East Penn. 1st mort. 7s,’88
El.A W’msport, 1st m., 7s, ’80.

do

do

30

do
do
pref.
142
United N. J. Companies
West Chester consol, pref....
West Jersey

Delaware Division
Lehigh Navigation

Maryland 6s, defense, J.A J.

BA1LBOAD

5*

•

•

BALTIMORE.
43

26
41

30

pref

d<>

41%

53*
50*

...

Nesquehonlng Valley.

44

• • •

Schuylk. Nav.lst m.6s.rg.,’97. v-7
do " 2d m. 6s, reg., 1907 70
do 6s, boatAcar,rg.,19'.8 55
do 7s, boat<fecar.ig.,i9 5 66
Susquehanna 6s, coup.. ;9.8 .*

Harrisburg City 6s, coupon..

Camden A Atlantic.
do
do
pref
Catawissa.....

g.,’94

do mort. gold, *97.
Lul
do cons. m.7s, rg.,1911 04
Morris, boat loan, reg., 1885.
Pennsylvania 6s, coup., *.910..

~

•

115
107

100
36

Etc.-Continued.

mort., 7s, 1892-3
103* 103* Phlla. Wilm. A Balt. 6s, ’84
Old Colony
98
Pltts.Cln.ASt. L. 7s, cou., 1S0C- 1C0% ioff*
Portland 8aco A Portsmouth
82
82% Shamokin V.A Pottsv. 7s, 1901
Pullma . Palace Car.
06%
Steubenv.
A Ind. 1st, 6s, 1884.
Pueblo A Arkansas
.
Stony Creek 1st in. 7s i9i)7...
Rutland, preferred
Sunb. Haz. A W.,lst m..5s,’23
Vermont A Massachusetts..
34
Worcester A Nashua
Sunbury A Erie 1st m. 7s, ’97.
Texas A Fac. 1st m ,6s, g.,1905 98
PHILADELPHIA.
do
81
cons m..63,g.,1905
STATE AND CITY BONDS.
do
32
lnc.Al. gr ,7s 19;5 30
Penna. 5s, g’d, int.,reg. or cp
Union A Titusv. 1st m. 7s, ’9C. 40
do
5s, cur., reg
.
.
Unlted N. J. cons. m. 6s, ’94.
do
5s| new, reg., 1892-190*2 112%
Warren A F. 1st m.7s, ’96
do
68,10-15, reg., lVJ7-*82. 102
West Chester cons. 7s, ’91
do
6s, 15-25, reg., 1882-’92 108* 108% West Jersey 6s, deb., coup.,’8S
do
6s, In. Plane, reg.,1879 ....
do
1st m. 6s, cp.,’96.
Philadelphia, 5s reg
1st m. 7s. '99...
do
309* no*
do
6s, old, reg...
Western Penn. KR. ep,*’p.:899 100
101*
do 6s, n., rg., prior to’95
do
6s P. B.,’96.
do 6s,n.,rg.,i895A over 120* 121
CANAL BONDS.
Allegheny County 5s, coup...
Chesap. A Dela. 1st 6s, rg..^
Allegheny City 7s, reg.
Delaware
Division 6s, cp.,’78.
Pittsburg 4s,coup., 1913.....
03
Lehigh Navlga. m.t 6s, reg.,*84 107
do
5s, reg. A cp., 1913.
do
mort. RR., rg.,’97 107
109
do
6s, gold -reg... ...

....

Municipal7s

Portland 6s...:

*38*
~38%
87

1

Boston 6s, currency
do 58, gold
-Chicago sewerage 7s

do

new......

Ka^.City. St. Jo.&C. B. :s.
87*
New York A New Eng. 7s
107* 10.*
Igdenshurg & Lake (Jh. Ss...
Old Colony, 7s
ii7*
do
6s
10S*
Omaha & 8. Western, 8s
122*
Pueblo & Ark. Valley, 7s
:o:* 107*
Rutland 8s,1st mort
80*

Maine 6s
New Hampshire 6s
Vermont 6s
Massachusetts 5b, gold

^

Bid. Ask.

8BOUBITIB8.

Hartford & Erie 7s.

BOSTON.

New York & New England...
Northern of New Hampshire
Norwich & Worcester

Chesapeake A Delaware

18.322.800 48.538.400 217,304,000
18.199.600 45.680.700 210,332,000
17.599.700 43.362.200 214.103.400
13.991.100 42,050,800 210,041,200
15.547.800 40.729.100 208.144.600
10.860.500 39.962.500 211,096,700
24.144.100 40,219,000 215.443.400
26.373.200 39.155.400 210.737.600
25.405.400 39.938.200 209.752.100
23.414.400 40.588.200 207,184,800
22.967.400 41.275.700 206.797.200
20.109.700 39,901,000 207,058,600
20.882.900 40.478.500 206.134.400
20.911.500 39,600,000 203.625.600
20.514.100 40,707,000 203.209.700

245.377.400
246.322.500
Oct.
5... 247.881.900
Oct. 12... 248.634.300
Oct. 10... 246.593.100
Oct. 26... 245.108.400
Nov. 2... 244.511.800
Nov. 10... 240.224.200
Nov. 16... 237.645.500
Nov. 23... 234,917,700

Sep. 21...

Bid. Ask.

SKCUBITIBB.

CANAL 8TOCKS.

the totals for
Specie.

as

Net deposits.
Circulation

PHILADELPHIA,

Nashua A Lowell

Average amount of
Banks.

BOSTON*

523

107
101

101
101
101
101
101

106%

100*
101%

101
101
104

10ft

524

THE CHRONICLE.
QUOTATIONS

U.S. Bonds and active Railroad Stocks

OP STOCKS AND

quoted

are

on a

5s, 1886
8s, 1886
8a, 1888

8s!

Montg. & Eufaula RR.
8s, Ala. & Chatt. RR

8s of
8s of
Class
Class
Class

=>

1892
1893

A, 2 to 5
B, 5s
C, 2 to 5
Arkansas—6s, funded
7s, L. Rock & Ft. Scott iss.
7s, Memp. & L. Rock RR
7s, L. RP.B. & N. O. RR.
7s, Misa. O. & R. R. RR...
7a, Arkansas Central RR.
.

Connecticut—6s

Georgia—6s
7s, new

7s!

47
47
47
47
3
7
20
20

1879...

....

12

48%
75
58
5
3
3
3
3
3
105
102

49

8s,

60

8s, of 1910
7s! consolidated

do

of 1875

•

i
»

i

•.

•

•

102

....

-

Ind. Cin. & Laf

92

93
....

35

•

.

56"

pref.

Louisville & Nashville
Marietta & Cin., 1st pref...
do
do
2d pref...
Mobile & Ohio
Nashville Chut. & St. Louis.
New Jersey Southern
N. Y. Elevated
N. Y. New Haven & Hartf.
Ohio & Mississippi pref
Pitts. Ft. W. & Chic, spec’l.

Rensselaer & Saratoga
St. Louis Alton & T. II
do

do

Michigan—6a, 1879
6s, 1883

7s! 1890

Missouri—6s, due 1882 or ’83
6s, due 1886
6s, due 1887
6s, due 1888
6s, due 1889 or ’90
Asylum or Univ., due ’92.
Funding, 1894-95
Hannibal & St. Jo., 1886..

...!
....

7

3%
37%
2%

38
3

190

197
166

103

..

|

40%

....

....

142

108

108

48%
98%

99

Quicksilver

14

15%
42%
41%

49% Indianap. Bl. & W.—1st
2d mortgage
47%

46%

pref

41%

Pennsylvania Coal
Mariposa L’d & Mining Co.
do
do
pref
Ontario Silver Mining
Homestake Mining
Standard Cons. Gold Mining
Pullman Palace Car

Cleve. P’ville & Ash., old.

44%
25

....

6

Det.Mon.& 1\, 1st, 7s,’1906

8
8

014
39

31%

My
29%

35
30

Bost. H. & Erie—1st m.r
1st inert., guar
Bur. Ced.R.& North.—1st,5s
Minn.& St. L., 1st, 7s, guar

Lake Shore Div. bonds...
do
cons, coup., 1st
do
cons, reg., 1st.,
do
cons, coup., 2d.
do
cons. reg.. 2d ..

Louisv.&Nash.—Cons.m.,7s
2d mort., 7s, gold
Nashv. & Decatur, 1st, 7s.

Chesap.& O.—Pur. m’y tund
6s, gold, series B, int. def.
6s, currency, int. deferred
Chicago & Alton—1st mort.
Income

Sinking fund
Joliet & Chicago, 1st m...
Louis’a&Mo., 1st m., guar
St. Ij. J;ick. & Chic., 1st in.
Miss. Riv. Bridge, 1st,s.f,6s
Chic. Bur. & Q.—8 p.c., 1st m
Consol, mort., 7s
5s, sinking fund
Chic. Rk. I.& P.-6s, cp.,1917
6s, 1917, registered
Keok.& Des M., 1st, g., 5s.
Central of N. J.—1st in., ’IK).
1 fjt consolidated
do

assented.

Convertible
do

Adjustment, 1903
-Lehigh & VV. B., con., g’<l..
do
assent’d
Am. Dock & Impr. bonds,
do
assented

Chic.Mil.& St.P.—1st,8s,P.D
2d mort., 7 3-10, P. D
1st m., 7s, $ gold, R. D....

Metropolit’n Elev—1st,1908
Mich. Cent.—Cons., 7s, 1902
1st mort., 8s, 1882, s. f
Equipment bonds

39
82

81%

idi"

Consol., 7s, 1903
Central—6s, 1883
6s, 1887
6s, real estate
6s, subscription

115%
94%

116%

117

93%
i

1st m., Springfield div —
Pacific Railroads—
87 '
Central Pacific—Gold bds.
San Joaquin Branch....
59%
Cal. & Oregon, 1st
J
State Aid bonds
Land grant bonds
Western Pacific bonds..
111
South. Pac. of Cal.—1st m.
114
Union Pacific—1st mort..
Land grants. 7s

125%
110

110%

ni%,

115%

115%!

Registered gold bonds.... *.... 115%
Iowa Midland, 1st m., 8s..
117
Galena & Chicago, exten.
106%
Peninsula, 1st m., conv... *112
Chic. & Milwaukee, 1st m. 116
108
Winona & St. P., 1st in
....

...

do

2d

m....

C. C. C. & Ind’s—1st, 7s, s. f.
Consol, mortgage
C. St. L. & N. O. Ten. lien 7s
do
do
1st con. 7s
Del. Lack. & West.—2d m..

7s, convertible
Mortgage 7s, 1907

Svr. Bii vh. & N. Y., 1st, 7>
Morris \ Essex. 1st m




do

2d mort...

104% 105
115% 118
104% 105
96%
92
107

111%

....

112*<m

I'ricee nominal.

I
l*

m.

do
do

Consol,

107% 10754

40%

West. Un.

Tel—1900,
1900, registered

coup.

in.

2dm..
3dm..

Cleve.& Pitts., consol., s.f.
do
! 4th mort...
Col. Chic. & I. C., 1st con..
+ And accrued interest.

26% Peoria

Pekin & J.—1st m.
St.L.& San F.—2d m.,class A

74
47

2d

115%

111

112

St.L. Vandalia& T.H.—1st m
2d mortgage, guar.. .
Sand. Mans. & Newark—7s
South Side (L. I.)—1st mort
South Minn.—1st m., 7s, ’88,
1st mortgage, 7s (pink)
Extension
Tol. Can. S.& Det.-lst. 7s, g
Union & Logansport—?s
Union Pac., So. Br.—6s, gld.

95%
104

104

lift
116
85
56

ii7

117%

do 2d int.,6s. acci
; Chi3. St,L.& N. 0.,2d m.,1907

.

.

.

(

95

8s."

„

„

110

119

119%! Buffalo—Water, long

115%

Chicago—6s, long dates—.
7s, sewerage
7s, water
7s, river improvement....
Cleveland—7s, long
Detroit—Water works, 7s..
Elizabeth City—Short
Long
Hartford—6s, various
I ndianapolis—7‘80s
Long Island City
Newark City—7s, long
Water, 7s, long

115%:

111% 112"

I

102%!

101
108
91

109

108%

117% 1204!
109
109%
70%
3o)4

104% 105

!

Oswego—7s

43

|

Poughkeepsie—Water

40

a

Macon—Bonds, 7s
Memphis—Bonds, C

....

Bonds, A and B

65
36
68

Endorsed M. & C. RR..,

60

70

122%

6s, 2d mortgage, gold

j

122% 125

|Cent. of la.—1st m., 7s, gold
Chic.& Can. So.—1st m.,g.,7s

1115

*108%!ll2

(Chic. & East. Ill.—1st m., 6s
.1112% j 2d mortgage, inc., 7s
92)4;iChic. St. P.& M.—6s, g., new
431
ji Land grant, 6s, gold
Chic.& Southwest.—7s, guar
112
113 j Cin. Lafayette & Ch.—1st ni
•

102
103

+110% 1114 Norfolk—6s
112 % Petersburg—6s
+111
8s
+110% 111%

_

103

—!

Cin.& Spr.—1st, C.C.C.&I.,7s

lstm., g’d L.S.&M.S.,7s

106)4

•.

+112

115

Richmond—6s

+113

114%

Savannnah—7s, old..........
7s, new
WiIm’ton,N.C.—6s,
8s, gold, coup, on

Pi ^

45
40
102
106
+90
+106

45
109

110
lie

+111
+101

102% Cent. Georgia—Cons,

115

+110

lie

+101%

105
113

m.,

7s

Stock
Charl’te Col.& A.—Cons., 7s
2d mortgage, 7s
East Tenn. & Georgia—63
1

E.Tenn.& Va.—6s,end.Tenn
E. Tenn. Va. & Ga.—1st, 7s.
Stock

....

m
100
70
61
93
55
101
bii

107
93
64
55
91
50
100
80

6s
:.
Stock
Greenville & Col.—7s, 1st m.
7s, guar
Macon & Aug.—2d, endors

Memphis& Cha’ston—1st,7s
2d, 7s
Stock

:

j Memp. & Lit. Rock—1st, 4s.
Mississippi Cent.—1st

97
85
94
101

112"! ""!

1 Evansv. & Crawfordsv.—7s.
Evansv. Hen. & Nashv.—7s
i Evansv. T.H. & Chic.—7s, g.
...j Flint & Pere M.—8s, I’d gr’t
99-% 100 j Galv. Hous.& H.—7s, gld,’71

Georgia RR.—7s

no

106%

jCol.&Hock.V.—lst,7s,80yrs +104%
+99
104)4
1st, 7s, 10 years...
.....108 i
*91
2d, 7s, 20 vears....
47
Dan. Urb. B1.& P.—1st, 7s, g.
61
Denver Pac.—1st,7s,Id. gr.,g
11254113 1 Erie & Pittsburg—1st m., 7s 100
114
97
II454! Con. mortgage, 7s
114
....!
7s, equipment
109

m.,

7s

2d mort., ex coupons...,
Miss: & Tenn.—1st m., 8s, A
1st mortgage, 8s, B
Mobile & Ohio—Sterling, 8s
Sterling, ex cert., 6s

88
95
105
106
101
93
52
67

11854

85%;
lis" I

98

102" 107"

8s...
Certificate, 2d mort., 8s...

50
55
*88

m'
76
70
112

124%
122%
118
115

126

120*

116
109% 111
73*4 74

100%
92%

70
Indianapolis & St.L.—1st, 7s
95
Indianap.& Vine.—lst.7s, gr
84
International (Tex.)—1st, 7s
25
Int. H. & Gt. No.—Conv., 8s
Jack.L.& S.—8s, 1st,“white” +108
105
Long Island—1st mortgage.
38
Montclair & G.L.—1st, 7s, n.
45
N. J. Midland—1st, 7s, gold.
m.

Receiver’s certif’s, labor.
do
other.
Oswego & Rome—7s, guar..

* No price

to-day; these

are

98% 101%
85
95
98
85
65
91

90
100

85

88

100
105
100
105
59

90"
92%

02
60

103

112
113
100

104
107
104
107

62

50*

65 ‘

55

70
22
22

78
85
25
30
27
100
100
108
104
74
74

20
103
30
111
72
95
62
90
95
104
38
114
102
85

45"

25
85
16
16

26

85
90
26

32
30
102
103
110
106

95

60
105
40
114
76
98
65

100*
106
45
118
105

88

•

90
50
100

1004 101%
79
81%
7
5)4
39
101
101

118%
90

41
104
103
114
98

78
78

Nashville Chat.& St. L.—7s.

87
38
110
103
101

....

...

2d mort.
N. Y. & Osw. Midl’d—1st

84

....

....

....

90
41
112
105

194

60

....

Consol, bonds

4118*4

107

40
74
46
45
65
109
88

12

2d mortgage, 8s
New 1st mortgage
New debentures
N. O. & Jacks.—1st m.,

1st, 6s, Tenn. & Pac. Br...
1st, 6s, McM.M.W.&Al.Br,
Norfolk & Petersb.—1st, 8s.
95
1st mortgage, 7s
83% 85%
2d mortgage, 8s
Gr’nd R.&Ind.—lst,7s,l.g.gu 104
90
Northeast., S. C.—1st m., 8s.
1st, 7s, Id. gr., not guar...
2d mortgage, 8s
64
70
1st, ex land grant, 7s
102
Grand River Val.—8s, 1st m +100
Orange & Alex’a—lsts, 6s..
86
84
Hous.& Gt.N.—1st,7s,g.,ctfs
2ds, 6s
llous. & Tex. C.—1st, 7s, gld 106% 108
3ds, 8s
4th s, 8s
!
100
101
Western Div.
Waco

*25
70
45
42
58

60

8s, interest

....

lis"!

....

g., cp.on

RAILROADS.
Ala.&Chat.—Kec’rs ctfs,var
Atlantic & Gulf—Consol
Consol., end. by Savan’h..

1()6

105
m.

115

+105

—

Bost. & N. Y. Air-L—1st
I' California
Pac.—7s, gold—

84

88%

40’

Nashville—6s, old
6s, new
New Orleans—Prem., 5s.:..
Consolidated, 6s
Railroad, 6s...•

RAILROADS.

113

88

15
15
32
10
10
20

Compromise....,
Mobile—5s, coupons on..
8s, coupons on
6s, funded
Montgomery—New 5s

108
114
106

+110

Yonkers—Water, 1903..

43
10

8%

New 3s..:

+113%

7'30s

59H

•11%

..,.

+111

Toledo—8s, water, 1894.

125
125

•

34
66
*....
50

105
111

Albany, N. Y.—6s, long

120*4

59%

„

CITIES.

118

^

80

Southern Securities.
(Brokers' Quotations.)
STATES.
89
So.Carolina—Con., 6s (good)
50
Rejected (best sort)
+100
M.&S.
Texas—6s, 1892
7s, gold, 1892-1910 J.& J +109
7s, gold, 1904
J.&J +110
10s, pension, 1894.. .J.& J. +99
CITIES.
Atlanta, Ga.—7s

87%

Miscellaneous List.
(Brokers' Quotations.)

lie"

-

....

.

94
87

of N. J., 1908

St.L.I.,M.&S.,l8t 7s,pref.int.

-

35
35

..

1104

:

109%
103%

mortgage, class B...

do
class C
St.L.& S.E.—Cons., 7s, g.,’94

95
100
100

INCOME BONDS.

109-% 110*4 Central

*

....

Registered

108% 109%

«

flu

...

88

75%
Water works
108% 108%
87% 87% Augusta, Ga.—7s, bonds.
Charleston, S. C.—Stock, 6s.
95
7s, F. L
98

conv.

Q.&

*.... 104

new,

Small

49

78*''

....

1st m., Carondelet Br...
South Pac. of Mo.—1st m.
Kansas Pac.—1st m.,6s,’95
1st m.,6s,’95,with cp.ctfs
1st m., 6s, ’96
do
with coup, ctfs
1st ra., 7s, Leav. hr., 96..
do
with coup, ctfs
1st m.,7s,R.&L.G.I)’d,99
do
with coup, ctfs
1st m., 7s, land gr’t, ’80..
do
with coup, ctfs
2d mort., ’83
do
with coup, ctfs
Inc. coup. No. 11 on 1916
Inc. coup. No. 16 on 1916
Den. Div. Tr. rec’ts ass.

3%

Ask.

3
2%
35^ 36
33
33%
33
Brag
33
33%

1867
6s, consol, bonds
6s, ex matured coupon
6s, consol., 2d series
6s, deferred
D. of Columbia—3 C5s, 1924.

....

74%;

HO54!

Income, 7s

6s,

be.

BONDS.

—

Pacific RR. of Mo.—1st
2d mortgage

do
do

....

AND

116% 117%! Tol.&Wab.—lstext.7s,ex cp
117)4

74)4

9
9
15

10514

Pur. Com. rec’pts, 1st,E.D *104
do
1st, W. D. *104
do
Bur. Div.
1st pref. inc. for 2d mort.
*30 "
1st inc, for consol
*30

115

Non-fundable

5
4

105

'

Pennsylvania RR—
Pitts.Ft.W.& Chic., 1st
105%

113
*.... 108

122%

Sinking fund
Registered, 8s

.

STOCKS

112
31
10
10
10
40
40
30

Tennessee—6s, old
6s, new
6s, new series
Virgina—6s, old
6s, new, 1866

id’

Burlington Div
2d mortgage, 1886
Consol., 7s, 1910

103% 104*4

*•

94*4
102%. 103 !
85
59
74
74

104*4

104~

Consolidated
2d consolidated

94%

91

! 110

108%

N. Y. C. & Hud., 1st m., cp.
do
1st m., reg.
Huds. R., 7s, 2d m., s.f.,’85
Canada South., 1st, int. g.
Harlem, 1st m., 7s, coup..
do
lstm., 7s, reg—
N. Y. Elevated-lst, 7s, 1906
Ohio & Miss.—Consol, s. f’d

::::

class 2

l&id

i Rhode Island—6s,coup.’93-9
South Carolina—6s
Jan. & July

7s of 1888..".

3%
2%
34

Col. Chic. & I. C., 2d con.. *25%
do Tr’t Co.ctfs.lst con
71
Rome Wat. & Og.—Con. 1st.
46
St. L.&Iron Mount’n—1
114
2d mortgage....
94
Arkansas Br., 1st mort...
Cairo & Fulton, 1st mort .
99%
Cairo Ark. & T., 1st mort.
St.L. K.C & N.-R. E.& R.,7s 103%
Omaha I)iv., 1st mort., 7s 103% j
North Missouri, 1st n
St. L. Alton & T. H—1st m. *113
2d mortgage, pref....
*84
*49
income.
do
Belleville & So. Ill., 1st m. 109
Tol..Peo. & W.—1st m., E.D
1st mortgage, W. D

...

105"

N. Y.

115
*....
94

,

100
102
102%
*.... 126
*.... 126
97*4 98
118)4 120
103
104
108
108%:

100%
106%

121

6s,

107*4
113% 115
10?
106%

111

14
14

class 3.

Bid.

April & Oct
Funding act, 1866
Land Com., 1889, J. & J...
do
1889, A.&O...

.85
85

8%
8%

Ohio-Os, 1881

103)4 104

115

J. &J.
A.&O.

1868

do
do

101

104 "
104
107

coup, off,
coup, off,

Ill

may

Securities.

23%
23%

Special tax, class 1

101%U02

*106

•

,

89
89
109

35

114%

....

ij

2d mortgage, inc., 1911
H. & Cent. Mo.. 1st., 1890.
New Jersey Soutli’n—1st, 7s

120

;

Ask.

105
105

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

106

21%

....

A.& O

do

107

21
117

109
103

do
do
do

^

70%

106% 107

1893....

do

Funding act, 1866

105%
106%
107
107

6s,

Carolina—6s, old,J&J
6s, old, A.&O
No. Car. RR., J. & J...

25
50
49

40%
48
101
106
112
104

MoK.&T.—Cons. ass. .1904-6

1st m., La C. Div
113
1st m., I. & M
110
1st m., I. & I)
107%
1st m., H. & D
107%
1st m., C. & M
|
112
Con. sinking fund
107% 107%:
2d mortgage
*102
1st m., 7s, I. & I). Ext
106
Cbtic. & Northw.—Sink. f’d.. *111
Interest bonds
106% 107%
Consol, bonds
119% 120 i
108
Extension bonds
!•
111
j
1st mortgage —,
no

Coupon gold bonds

‘

46

45-%

94

assented

Marietta & Cin.—1st mort..
1st mort., sterling

mi

*38%

106
110
110
108
120
121
122

York—6s, gold, reg.,’87
8s, gold, coup., 1887
6s, loan, 1883
6s, do 1891
6s, do 1892

North

do
new
113
Buffalo & Erie, new bds... 116
Buffalo & State Line, 7s..
105
Kal’zoo & W. Pigeon, 1st. 4100

....

43

Railroad Bonds.
.Stock Exchange Prices.
'

m..

Lake Shore—
Mich S. & N. Ind., s. f., 7s.
Cleve. & Tol., sink. fund..
do
new bonds.

64

Consolidation Coal of Md..

do
1st, reg.
Denv.& R. Grande—1st,1900
Erie—1st mort., extended..
2d mortgage, 7s, 1879
3d mortgage, 7s, 1883.
4th mortgage, 7s, 1880 —
5th mortgage, 7s, 1888 —
7s, cons., gold bonds, 1920.

Dub. & Sioux C., 2d div...
Cedar F. & Minn., 1st m..

Wells, Fargo & Co

Gold & Stock Telegraph....
Canton Co., Baltimore
American Coal

coup., 7s. 1917
reg., 7s, 1917 .
Albany & Susqueh., 1st m.
2d mort..
do
do
3d mort..
do
1st con., guar

111.Cent.—Dub.&Sioux C.lst

American Express
United States Express

do

div.,

ex

Miscellaneous St’ks.
Adams Express

Reg. 7s, ’94

coup.,Sept.,’79 & prev
Long Dock bonds
1()6 i
Buff.
N.Y.& E, 1st m., 1916
1
11
N. Y.L.E.&W.,n.2d,con.,6s
20
do 1st, con., f, cp.,7s
do
144% Han. & St.2<l,con.,f.cp.,5s,6s
Jos.—8s, conv...

102

Missouri—Han.& St. Jo.,’87.

1Y1ISOELLANEOVS

Rens.& Saratoga, 1st,coup

67% (is
6

AND

Morris &Ess’x,b’nds, 1900
do
construct’n
do
7s of 1871.
do
1st con., g’d..
Del.& Hud.Canal—1st m.,’84
1st mortgage, 1891
.-...
do
extended..
Del.& H. Can.—Coup., 7s,’94
1st Pa.
do

60

8

pref.

Terre Haute & Indianapolis
United N. J. RR. & Canal

J

158
«...

do

.

....

15

13%

Keokuk & Dea Moines.—.
do

•

Bid.

....

:

7s, small
)

SECURITIES.

New
30
30
30
30
30
30
30

6s, new
6s’ new floating debt
7a, penitentiary
6s, levee
8s! do

RAILROAD
Railroad Stocks.
(Active previously quoted.)
Albany & Susquehanna
Boston & N. Y. Air L., pref.
Burl. Cedar Rapids & No...
Chesapeake & Ohio
do
do
1st pref.
do
do
21 pref.
Chicago & Alton, pref
Chicago St. Paul & Minn—
Diihnqiip k. Sioux City
*.
Harlem

Ask.

101

111%
coupon,

BONDS.

Kentucky—6s
Louisiana—6s

111

endorsed

Bid.

SECURITIES.

111%

7a, gold

Illinois—6a,

Ask.

Bid.

SECURITIES.

BONDS IN NEW YORK.
Prices represent the per cent value, whatever the par

previous page.
STATE

xivm.

[vol.

Rich.& Dan.—1st consol., 6s
Southw. Ga.—Conv., 7s, ’86.
Stock
S. Carolina RR.—1st m., 7s.

102
95
75
100

.

7s, 1902, non-enjoined
7s, non mortgage..:
1 109

106%;
55 j
19
56

96

(100

avan’h & Char.—1st m., 7s.
Cha’ston & Sav., 6s, end..

100
94
110
95
92
85
50

12%
87
105
83
101
42

45
112

2d mort., 8s, guar
PAST-DUE COUPONS.

112

( Tennesssee State coupons.

20
40
20
79

47%
12%;

10
18
54

—

104"

South Carolina consol

Virginia

coupons
consol, coupons.

latest quotations made this week.

....

•

•

•

•

•

•

•

•

•

•

114
•

•

100
90
51
14
90
110
90
102
46
25

50
115
115
30

81

Mat 24,
y

THE CHRONICLE.

1879]

GENERAL INVESTMENT
AND

of

The Investors’ Supplement is published on the last Saturday
of each month, and furnished to all regular subscribers of the
Chronicle.
No single copies of the Supplement are sold at the
office, as only a sufficient number is printed to supply regular

subscribers.

however, is bound
Review (Annual), and can be purchased

One number of the Supplement,

up with The Financial
in that shape.

a

letter in the English newspapers in which he says:

“I have to inform you that Vice-Chancellor Bacon has refused to.
continue the injunction obtained last week, ex parte, by Mr. M’Honry*

against the re-construction trustees, Mr. M’Henry wishing an
opportunity of answering the evidence of the trustees, and
his motion, therefore, standing over until the 15tli Inst. As manjr
incorrect reports are being freely circulated respecting a proposed leasa
to the Erie Company, I am directed by the re-organization trustees to
state that they have no power, nor have they any intention, to grant any
such lease, though they recommend the bondholders, in whose poweralone the matter will rest, to agree to such a lease after re-organiza¬
tion.
“
The duties and powers of the trustees are very clearly defined by thetrust deed under which they hold their ottico, the aim and object of thewhole scheme being the purchase of the road under foreclosure and thet
formation of a new company to work or lease it as may then be thought
best. Bondholders are cautioned against the specious arguments now

REPORTS.

ANNUAL
Flint & Pere

Marquette.

(For the year ending Derember 31, 1878.)
From the annual report we have the following brief abstract
in advance of the regular pamphlet:
EARNINGS.

Freight

NEWS.

Atlantic & Great Western.—The Secretary to the trustees
the Atlantic & Great Western Railway Company has

published

FINANCES.

STATE, CITY AND CORPORATION

525

-.

1878.

1877.

$592,873

$552,837

20,861
1,314
23,815

$1,081,147

$997,965

11,204

Mails
Rent
Interest on land sales

Total....;
Increase

reasons

regard to Mr. M’Henry’s scheme, he points out the
why it is entirely impracticable, and says:

”
In conclusion, I beg to inform you that the total amount of bond*
which have been deposited with the trustees, under and for the purpose,
of the 1875 scheme of arrangement, is as follows: Of the first mortgage-*

83,181

$14,411,377 out of a total issue of $15,168,200; of the second mortgage*
$9,436,252 out of a total issue of $11,991,000; and of tlie third mort¬
gage $26,232,666 out of a total issue of $28,784,000.
I have only

$617,814

$530,832

have been withdrawn from the trustees, that only four third mortgage
bonds of the market value of about £35 have been withdrawn.”

29,963

50,453

$647,777
$433,370

$581,286
$416,679

to state further in

EXPENSES.

Operating expenses

arrangement as is proposed in the scheme recently issued by Mr..
M’Heury no further capital could be raised for the purposes for which it.
is at present absolutely necessary.”
Witli

386,003
11,355
20,499
1,987
25,282

431,077

Passenger

being circulated—that re-construction of the’property is possible without
such foreclosure and sale—this very point having beeu brought before
Mr. Beldam in, Q. C., before the present re-construction scheme wa*
decided upon, who advised against its legality, and that under such an

Improvements to track

reference to the assertion that large amounts of bonas

Chesapeake & Ohio.—Messrs. Fisk and Hatch have issued a.
pamphlet which answers many inquiries about this road. It
states that the Chesapeake & Ohio Railway, as now completed
Net earnings
16,690
and in operation, is 424 miles in length, traversing from east to
Increase
west the States of Virginia and West Virginia.
In addition to
The increase in tonnage during the year was 60,389 tons and
its 424 miles of main line, it has 6 miles of branches to coal and
of passengers 50,977. The mileage of passenger trains was
iron mines and 86 miles of sidings, making a total track of 516
365,879, that of freight 501,175, and that of switching, con¬ miles. Its
present eastern terminus is at the City of Richmond,
struction and wood trains 228,368.
with an extension to the James River, about two miles below
During the year, 3,065 tons of steel rails, equal to 34*8 miles the
city, where it has a mile of water front, with wharves, &c„
of track, were purchased, and 298*5 miles of it laid. Nearly all
The present western terminus of the road is at HuntingtoD*
the gaps between Saginaw and Wayne were laid with steel with
on the Ohio River, 150 miles
above Cincinnati and 315 mile**
that on hand; 104,451 cross ties were also placed in the track.
below Pittsburg. It has, as yet, no rail connection west from
Scioto Valley Railway.
this point, but makes its Western connections by mean3 of
steamboat and barge transportation on the Ohio River. The
(For the year ending December 31, 1878.)
distances intervening between the present western terminus of
The following figures are compiled from the auditor’s annual
the road and rail connections west are as follows, viz.: From
statement:
EXPENSES.
OPERATING
Huntington to Portsmouth, Ohio, on the north bank of the Ohio
EARNINGS.
transport’n.. $47,510 River, where connection may be made with the Scioto Vallejr
Freight
$171,882 Conducting
51,950 Railroad for Chillicothe, Columbus, Toledo, Chicago, and the
Passengers
104,177 Motive power
8,945
Express..
2,987 Maintaining cais
21,164 Northwest, about 40 miles. A company has been formed
Mail
2,498 Maintaining way
26,703 by parties interested in the Scioto Valley Railroad to build a
606 Gen’l exp., incld’g taxes.
Miscellaneous
road between Huntington and Portsmouth. From Portsmouth^
Total gross earnings.. $282,153
Total operating exp.. $156,275 to Cincinnati, about 110 miles. From Huntington to Cincinnati
Net earnings
$125,877 by either the Kentucky or Ohio bank of the river, about
150 miles. The Chesapeake & Ohio Railway Co. has a franchise
Operating expenses, 55*4 per cent of gross earnings.
for bridging the Ohio River at Huntington.
TONS OF FREIGHT MOVED ONE MILE.
The Lexington & Big Sandy Railroad Company was organized,
Total

%

Local.
> /
Through.
960—Revenue,
5,047,973—Revenue, 2 64c.
1,112,891—
“
“
317c. 243,341—

a charter from the State of Kentucky, for the purpose of
building a road from a junction Avith the Chesapeake & Ohio at
the Big Sandy River, near where it empties into the Ohio*
Total
-6,160,864—
“
2735 244,301
“
l‘38c. seven miles below Huntington, to Lexington, Kentucky, where
it'would connect with the Louisville Cincinnati & Lexington.
NUMBER PASSENGERS CARRIED ONE MILE.
Railroad for Louisville, St. Louis and the Southwest, with the
Local.
Through.
Northward..
1,851,198—Revenue, 2*52c. 238,818—Revenue, 260c. Cincinnati Southern, northward to Cincinnati and southward to
Southward
“
1,868,149—
“
256c. 173,923—
262c. Chattanooga, and also with the Kentucky Central to Cincinnati.
Total
3,719,347—
“
[>53c. 412,741“
2 60c. Thirty-three miles of the Lexington & Big Sandy Railroad, from
Lexington eastward to Mount Sterling, were built in -873, leav¬
Concord.
ing about 88 miles to be built to the Big Sandy River, where it
would join the Chesapeake & Ohio. Plans are now under con¬
(For the year ending March 31, 1879.)
sideration for the completion of this road.
The annual report has the following:
Cincinnati Hamilton & Dayton—Cincinnati Hamilton &
The notes payable were reduced $50,000 during the year.
Indianapolis.—The committees representing the C. H. & IX
The company has no bonded debt.
Company and the bondholders of the C. H. & I. Railroad haxe
Operations embraced the following :
.

/

Northward
Southward

6c.
l'36c;

under

,

c.

3-8
2*5
0*2
OT

earnings for the year were as follows :

Passenger
Freight
Express, mail, &c

*

Total

$286,081

Net earnings
Taxes on capital stock
Manchester & Lawrence, joint business
Rent of Concord <fc Portsmouth
Rent of Suncook Valley
Rent of Nashua Acton & Boston
On account N. A. & B. rolling stock

.

Dividends, 10 percent

fund

$771,171
430,717

$340,453

:

69,962

—

an

parties in interest.

$318,847

The bonds now held by the Cincinnati Hamilton & Daytoi*
Railroad Company belonging to the same issue of guaranteed
bonds held by the bondholders to be represented in said arbit¬
ration shall be cancelled, leaving the total amount of said
bonds outstanding and to be provided for $1,800,000.
All demands of the Cincinnati Hamilton & Dayton Railroad

Company against the Cincinnati Hamilton & Indianapolis Rail¬
road Company, not including the stock of said last-mentioned
25,000
company shall be cancelled.
8,094
The validity of the bonds and the guaranty of them by the
11,000
Cincinnati Hamilton & Dayton Railroad Company are not to be
18,707
150,000—318,229 questioned before said arbitrators, but are to be fully assumed
$617 and admitted for all the purposes of the arbitration.

$35,465
:

agreement, which they will recommend to their
This provides that the C. H. & D. Co. shall
choose one arbitrator and said bondholders shall choose
another, and the two thus chosen shall choose a third, all three
to be gentlemen of experience in the management of railroad
property, to whom shall be submitted the question as to what
rate of interest shall be paid on the C. H. &1. bonds, subject to
the following limitations: The award of said arbitrators, or &
majority of them, shall be conclusive and binding upon said
adopted

452,046
33,044 parties.

$318,847

The income account was as follows




1877-78.

$278,321
424,954
29,728
414,157

earnings

Balance to contingent

1878-79.

$733,004

>.

Expenses
Net

Dec. 19,299
Dec. 275,632
1,386
Inc.
Dec. 25,613

509,203
10,856,140
673,471
21,634,669

489,904
Passengers carried
Passenger mileage
iO,580,508
Tons freight carried..
674,857
Tonnage mileage
21,609,056
The

P.

1877-78.

1878-79.

9
6
8
1
7
2781
THE
'

is

CHRONICLE.

Coal Freights.—The following, from the Philadelphia Ledger,
a

statement of the anthracite coal

April, 1879, compared with the

same

the first four months of this year

period last

year :

April,’70.
Reading Railroad
637,473
Lehigh Valley Railroad.... 361,529
Central RR. of New Jersey. 333,260
Del. Lack. A Western RR..
266,186
Delaware & Hudson Canal.
182,437
Pennsylvania Railroad
142,031
Pennsylvania Coal
121,301

1868

$1,266,006
2,392,809
3,082,533
3,658,879
3,449,222

tonnage for the month of
month last year, and for
compared with the same
4 months.
1878.

4 months.

April,’78.
1879.
373,538 2,007,736
230,943 1,188,413
151,158 1,119,033
100 774 1,016,647
100,241
764,731
102,604
434,190
69,982
397,847
18,631
99,578

[Vol. XXV1IL

"

1

526

1874
1875

$1,907,837

1876
1877
1878.

1,876,801
1,564,403
176,985

296,610

2,325,893

Total

$21,997,984

The

expenditures from 1868 to 1879 amount to $46,368,735,
873,594 distributed
as
follows: Executive, $1,310,402 ; Judiciary,
862,580
510,717 $3,086,887; levees, $7,948,375; Board registration, $213,417;
537,818 interest, $9,956,063; legislative, $4,441,874; charity, $2,091,118;
634,009 destruction State notes,
$941,845; miscellaneous, $15,501,683;
303,615
The
amounts due for taxes and unpaid
printing,
$1,867,067.
230,432
N. Y. Lake E. & West’n RR
27,049
76,132 throughout the State from 1870 to 1878, inclusive, is $11,345,832.
Total
New York Elevated—Metropolitan.—The ioint committees
2,071,270 1,147,875 7,028,180 4,028,899
Denver & Rio Grande.—The Denver & Rio Grande of the New l"ork and Metropolitan Eievatea Railroad Com¬
Railway Company’s subscription closed May 17. There were panies have arrived at a basis of settlement, which is, in
•over $10,000,000 of bonds subscribed for at
ninety cents. Only substance, to have a working arrangement under the Manhattan
$5,000,000 were asked, and subscriptions will be scaled down to charter, to which both roads wall be leased for 999 years.
The old Manhattan charter is the one proyided
that amount. General Palmer, the President of the road, states
by the Rapid
that this sum will be used to complete at once the lines from Transit Commissioners of 1875, at which time a company was
Canon City to Leadville and Ten Mile, 250 miles from Alamosa, organized, consisting of John Baird, W. R. Garrison, Gen.
westward to the San Juan Mines, 210 miles, and from Alamosa Horace Porter, Jose F. Navarro, Cyrus W. Field, Josiah M.
southward to Albuquerque in New Mexico, 205 miles. The Fiske, and Benjamin Brewster, with a capital of $2,000,000.
recent decision of the United States Supreme Court
gives them The object of that company was to build either or both
prior right of location in the Grand Canon of Arkansas River, of the proposed roads should either or both of the
other companies—the New lTork or the Metropolitan (then the
-and .all other routes named in the charter.
Hoosac Tnnnel.—The withdrawal on the part of the Gilbert) fail to do so. That company has ceased to exist as a
Fitchburg Railroad from the partnership with the State in the building company by limitation, but it is competent, subject to
Hoosac Tunnel Line has been decided on. The President of the re-organization as a company, to run either or both of the roads
road was instructed, by a unanimous vote, to give the required after they are built. They have organized a new company
three months’ notice in writing to the parties forming the under the Manhattan charter, composed of five members from
Hoosac Tunnel Line of the desire of the Fitchburg Company to each of the two companies, as follows:
President, VvT. R. Garrison, of the Metropolitan Road. Secretary and
withdraw from the agreement made between it and them. The
N. Guilford, Vice-President of the New York Road. Directors,
President was also authorized to pay such tolls to the managers Treasurer,
George M. Pullman, John Baird, Horace Porter and Jose F. Navarro, of
of the Troy & Greenfield Road as will enable the
Fitchburg the Metropolitan Road, and Cyrus W. Field, A. H. Barney, Josiah M.
Company to carry merchandise and passengers through the Fiske and H. R. Bishop, of the New York Road.
tunnel and over the Troy & Greenfield Road without loss. The
According to the information given by Mr. Navarro, the
directors express their willingness that the President should arrangement does not affect the present organization or status
submit the question as to what tolls will accomplish this object of either of the companies. The plan is intended to control
to three suitable disinterested
the running of the roads, and the agreement is to divide the
persons.
profits
and to ensure 10 per cent per year on the stock of both
Western.—In
Indianapolis Bloomington &
the United States
Court, at Springfield, Ill., May 9, J. R. Stone, of New York, companies.
who represents the purchasing committee of the stockholders
Ogilensburg & Lake Champlain.—The report of Mr. Horace
of the Indianapolis Bloomington & Western extension railroad, B. Wilbur, auditor of the
Ogdensburg & Lake Champlain.
running from Champaign to Havana, which was sold at master’s Railroad, in compliance with the request of Mr. George M.
sale on the 6th of February last, paid the last of the purchase Barnard, chairman of the executive committee, to make a
general
money, $140,000, $33,000 in receiver’s certificates and the bal¬ examination of the accounts of the company, has been
ance in cash, and received a deed for the road.
Accompanying completed and will be submitted to the annual meeting to be
the deed was an order providing that the money shall remain in held next month. The Boston A dvertiser gives an abstract of
the custody of the court for ninety days, to await the action of some portions of Mr. Wilbur’s report, from which it is learned
certain State courts in the matter of collection of taxes due
by that the falling off in the freight business in the year ending
the road.
March 31, 1879, amounted to $70,893. The true net earnings
Indianapolis Cincinnati & Lafayette.—The Receiver, Mr. for the year ending March 31, 1879, amount to $90,407. This
M. E. Ingalls, has filed with the Clerk of the United States is the sum as stated on the books. In the expense accounts of
Courts the following report of his receipts and disbursements that year are included all items of expenses, whether they be
for the month of April:
ordinary or extraordinary,—$26,562 more has been charged in
the expenses of 1879 than 1878 for iron, and for bridges $6,635,
CASH RECEIPT8.
Balance on hand, April 1, 1879
$676 together amounting to $33,197. This amount certainly can be
Loans
74,100
-

-

Transportation of express goods
Transportation of United States mail
Rents
:
Other railroad
Interest

2,326
1,718
5,753
17,956

(The true net of that year was $163,802, to which add extraord¬
inary
expenses, $78,135—$241,938). The difference in the net
8
of the two years amounts to $118,334. This difference is
mostly
116,911
2,736 attributable to loss in business and reduction in rates.
By
1,301 reduction in rates for car service there was lost $19,633.
By
1,012 reduction of rates and
falling off of freight business the loss
$224,502 was $70,893; the loss of passenger business was $8,675; elevat¬
ing, $6,417; mail service, $707; rents and use of trains, $3,999;
$63,000 total, $110,327.
2,140
Results of business for two years ending April 1, 1879:
11,052

companies

Agents and conductors
Sale of old rails and scrap

iron

Other miscellaneous sources
Balance on hand, April 30, 1879
Total
CASH

Raid
Paid
Paid
Paid
Paid
Paid
Paid
Paid

DISHURSKMENTS.

loans
interest
bond interest
rents

'.

4,491
21,299
29,448
3,010

supply hills
balances to other railroad companies

taxes

legal expenses

43,150
41,169
5,072

sundry miscellaneous bills and vouchers

Total

$224,502

Louisiana Mate Finances.—The following statements of
the funded debt of Louisiana, the amount of taxes collected,
&c., are contained in the statement presented by the Auditor
to the Constitutional Convention, now in session.
The items of the funded debt are as follows :
The amount of bonds, coupons, Ac., funded by the
Board from January 1, 1874, to May 17, 1875, was
Bonds outstanding January 1, 1874
Funded from January 1, 1874, to April

Outstanding April 24, 1879

Kellogg

24, 1879

Amount of bonds, coupons, Ac., funded by
from May 17, 1875, to May 31, 1876
Amount of bonds, coupons and other
funded by the Nicliolls administration
New bonds issued
Par certificates

$5,656,455
23,437,639
19,636,268

4,589,720

the Kellogg Board
State obligations

January 1, 1861:
Outstanding January 1,1874

The
year




March 31,1878, excess of liabilities over assets
Net earnings year ending March 31, 1879
Real estate increased in value over cost and entered
at present

44 shares

value, showing

common

a

profit tliis year of

10,121
100,000

$273,923
72,317
160,000
6,698

$280,622 $280,622
$6,698
$90,407
6,190

$96,597

sold at loss

Charged off for depreciated value of loans
Interest on bonded and floating debt for the

Two dividends accrued of $80,000 each
Excess of liabilities over assets March 31,

1,623
10,000
79,731
160,000

year....

1879

161,455

$258,053 $258,053
The deficit of net earnings to meet interest on funded
and floating debt, and two dividends on preferred stock, for the
year ending March 31, 1878, was $68,514; for the year ending
March 31, 1879, was $149,324.

2,463,406
17,352
was

$3,848,000
3,466,000
18.582.800

14.568.800
total amount of taxes for each

following table shows the
from 1868 to 1879 that have been collected to date

Interest on bonded and floating debt
dividends accrued of $80,000 each
Excess of liabilities over assets March 31,1878

$48,304

4,105,677

Bonds issued prior to

war

Salqof bonds

$163,802

9,772,740

The following table shows what portion of the above
contracted before the close of the war:
Funded
Issued since the
Funded

March 31,1877, exceRS of liabilities over assets
Net earnings year ending March 31,1878
Profits on wood lots

666

Paid salaries and wages
Paid for steel rails

Paid

called extraordinary, and had it been left out the net would
have amounted to $123,604, against $241,938 of the year before.

:

Ohio & Mississippi —Receiver John King, jr., of the Ohio &
Mississippi Road, filed the subjoined report for the month of

April:

RECEIPTS.

Cash

hand April 1
Received from station agents
Received from conductors
Received from individual railroad
on

$20,568
companies, Ac

,

327,458
4,829
39,023

THE

1879.J

Mat 24,

$21,720
726

Received from Post Office Department
Received from express companies
DISBURSEMENTS.

$15

Vouchers paid to November 18, 1876
National Trust Company, on loan
Vouchers subsequent to November 18,1876
Indiana taxes

50,000
204,301
19,741

124,090
16,177

Payrolls and arrearages
on hand, May 1

Cash

*.

Total

Paris & Danville.—On the
Danville Railroad will be sold.

Southeastern R.R. Co. on
Kentucky" Railroad

St. Louis &

$414,324

19th day of June the Paris and
The sale is to take place at the

Exchange Salesrooms, No. Ill Broadway. This road, com¬
mencing at the City of Danville, Ill., runs 103 miles to Lawrenceville, Ill, The property will not be sold for less than
$200,000, $50,000 of which must be paid (cash) on the day of
sale, and the other $150,000 on confirmation of sale. Besides
the railroad equipments, there will be sold a lot of coal lands
belonging to the company, covering 1,230 acres.
Pennsylvania Railroad.—The statement

of the Pennsylvania

account of Edgefield <&

Nashville Chattanooga

& St. Louis lines :

$114,000

Nashville & Chattanooga
Nashville & Northwestern
Winchester & Alabama
McMinnville & Manchester

1,385,000
457,000
356,000

$2,312,000

Total

Other railroads :
Mobile & Ohio Railroad
New Orleans St. Louis & Chicago R.R. on
Central & Tennessee Railroad
Knoxville & O. R.R. Co. on account

The above amounts and some

account Mississippi

of Knoxville & Ken. R.R

issues to smaller roads

aggregate of railroad issues made by the State
see, and which are still outstanding, of
On which there is accrued 23 per cent interest

Bondholders will please

953,000
480,000
514,000

make an

of Tennes¬

Total due
44

$645,000
$3,740,000

Total....

$414,324

Total

527

CHRONICLE

note that 4 new’

$11,647,000

2,673,810
$14,325,710

bonds, issued to

Series’ bonds, not included
of interest which accrued
on railroad bonds under the funding acts of 1866,1868 and 1873,
are also statutory liens upon the railroads.”
Bondholders wishing to secure the benefits resulting from
this litigation can do so on the following conditions, to wit: by
depositing with the committee five dollars per lien bond, in cash,
and one past-due coupon from each bona of that description.
This will be required to defray the necessary costs and expenses
of the litigation. In no event will the bondholders be called
upon for any further assessment, nor do they incur any per¬
sonal liability by uniting in this plan. Should any surplus
funds remain in the hands of the committee after all expendi¬
tures have been provided for, the same will be returned to bond¬

Tennessee Railroads, and 4 Funding
in the above list, issued in payment

with that of April, 1878,
of lines east of Pittsburg &
Erie of $120,217; a decrease in expenses of $33,515, making an
increase in net earnings of $153,732. For the four months of
1879, as compared with the corresponding period last year,
there is an increase in gross earnings of $746,258, an increase in
expenses of $3,723, making an increase in net earnings of
$742,535. The lines west of Pittsburg and Erie for the four
months show a surplus over the liabilities of $221,520, being a
gain over last year of $13,229.
Philadelphia & Reading.—The Philadelphia Inquirer reports
President Gowen, of the Reading Railroad, as saying that his
holders pro rata”
principal object in taking the two leases was to secure an inde¬
pendent outlet to New York for his coal, which would enable
—Messrs. Fisk & Hatch have issued another circular, entitled
him not only to move coal a great deal more cheaply than now,
Four
Per Cent Circular No. 6,” which is intended to give a
but the business could be continued during the winter months.
He calculated that it cost his company $1,740,000 to put 2,000,000 full reply to numerous requests for information from holders
tons in New York and its waters, while with the new lines he of called bonds who have not yet replaced them with the new
could put the same quantity into the same market at a cash four per cents. The circular will be found on another page of
The Chronicle, and there are some important points brought
outlay of only $850,000, thus saving $950,000 a year. Then,
out in it as to the relative prices of out 4 per cents and the
having an outlet in the winter months would give the company
a business which would fully' equal
an increased profit of English consols. Messrs. Fisk & Hatch state that they do not
$500,000 on his own lines. Adding this to the $950,000 saved think the 4 per cents too high until their income is reduced
below 3^6 per cent, and this will not be the case until, with the
by a change in the coal traffic, he says the entire net profit will
be about $1,450,000. To be deducted from this profit will be present amount of accrued interest, the price reaches 109*25.
from $60,000 to $100,000, which, under the present guarantee in They express the opinion that the European markets and cash
the leases, is the utmost deficiency that would be imposed upon customers will soon hold all the remaining supply, the former
his company by them, even assuming that the present business taking the bonds for the reason that the 4 per cents are more
of the North Pennsylvania and the Bound Brook routes would than equal in income to the British consols until .they advance
not increase.
With the Philadelphia depot at Ninth and Green to over 18 per cent premium.
streets, the traffic between the two cities, he thinks, must
—Messrs. [M. & S. Sternberger, 17 Broad street, New York,
increase; and this alone, Mr. Gowen says, would make up any and 52 Devonshire street, Boston, are offering the stock of the
deficiency upon the leases, leaving the large sum above men¬ Golden Fleece Gold and Silver Mining Co. This mine is sit¬
tioned as the actual annual profit to the Reading resulting uated at Reno, Nev., and is incorporated under the laws of that
from the transaction.
State, with a capital stock of $300,000, in shares of $10 each.
St. Lonis & San Francisco.—Notice is published that a The trustees are Messrs. T. K. Hymers, S. Cahn, M. Lippman,
M. Clarke, and M. D. Lacliman. A sample of ore
meeting of the stockholders of this company will be held at its General R.
containing
sixteen
pounds, assayed by L. Meyers & Co., of
general office, in the city of St. Louis, on the 17th day of July,
for the purpose of voting upon the proposition to increase the Newark, N. J., on April 29, 1879, showed, silver, $34*83 ; gold,
bonded indebtedness of the company to the extent of $1,100,000, $34*93 ; total, $69*76 per ton of 2,000 pounds. And an assay
in order to acquire the Missouri & Western Railway, and to made by S. Dana Hayes, State Assayer of Massachusetts, on
mortgage that road in order to secure its payment, and upon May 5, 1879, showed, silver, $86*24 ; gold, $47*99 ; total,
the question of such acquisition and the means by which it $134*23 per ton. The stock is now offered here and in Boston
shall be accomplished ; and also upon the proposition to^ ratify at $5 per share, in order to erect works for the reduction of
an agreement with the St. Louis
Wichita & Western Railway ore.
Company to build its road from Oswego to Wichita, in Kansas ;
—The card of Messrs. Dickinson Brothers will be found on
to guarantee its bonds issued for that purpose, and for a lease the first page of the Chronicle. This firm gives special atten¬
of such road; and also to vote upon such other questions tion to dealings in California mining stocks, and get their pri¬
respecting the matters aforesaid as shall be brought before the vate San Francisco despatches daily. Their recent telegrams;
said meeting.”
state of the Bodie (which has risen from 9^ to 21 bid within
Tennessee Bonds. —The committee of Tennessee bondholders the past week) that a large and rich vein of ore has been struck
has issued a circular, dated May 17,1879, in which they address on the 700 foot level. As the Bodie adjoins the Standard Mine r
the holders of Tennessee bonds, and say : 44 In our last circular this strike, they say, seems to indicate a rich ore in that mine
also when they shall get deep enough to uncover it, as the ore
we informed you that the committee was considering the best
now struck in the Bodie is on the line of this property.
means for enforcing our first mortgage liens against the rail¬
roads in Tennessee. After full deliberation, with advice of
—Attention is called to the card of Mr. H. W. Rosenbaum, 43
counsel, and with the approval of the following prominent Exchange place. Mr. Rosenbaum has been familiar with 44 the
houses interested,”
* * * “we have decided to adopt the Street” for many years, and makes a specialty of buying and
suits lately instituted by Mr. C. Amory Stevens. Prompt action selling railroad bonds and stocks and investment securities
on the part of the bondholders will enable us to bring these
Parties desiring information about stock or bonds
suits to trial during the ensuing summer.”
*
* generally.
*
*
will be cheerfully furnished upon application to him.
The circular gives the following list of roads on which Ten¬
—Messrs. Gwynne & Day, of 45 Wall street, publish in our
nessee State bonds are claimed to be first mortgage liens, and
advertising
columns an interesting table, showing to those who
the amount of bonds outstanding against each road.
intend
to
purchase
Government securities the more desirable
East Tennessee Virginia & Georgia Railroad, leased lines and
issues to take at current prices.
The table shows what each
branches:
issue should sell at to yield 3% and 4 per cent per annum.
East Tennessee & Georgia Railroad
$614,000
East Tennessee & Virginia Railroad
1,218,000
—The Committee of Tennessee bondholders have prepared
Memphis & Charleston Railroad
830,000 for distribution a circular containing information in regard to
Cincinnati Cumberland Gap & Charleston Railroad
350,000
34,000 the suits against railroads, which may be obtained by calling at
East Tennessee <fe Western North Carolina Railroad
Total
$3,036,000 81 Nassau street, or by addressing the secretary of the commit¬
tee, Post Office box 936 New York.
Louisville & Nashville Railroad Company, and purchased and
—The attention of investors is invited to the advertisement
leased lines :
of Mr. Charles T. Wing, in another column. Mr. Wing is well
Main lino
$298,000 informed
as to the securities which he presents to the public,
Memphis Clarksville & Louisville Railroad
791,000
Memphis & Ohio Railroad
1,176,000
a L\o (\t\t\ especially the Col. Chic. & Ind. C. R.R., havirg had many years
Tennessee & Alabama R.R. \ xr«ahvnip .o rwatnr Railrnul
5e 468,000
Central Southern R.R
5 Na8nvme & Decatur Railroad.
^ 362,000 experience.
Railroad Co. for April, compared
shows an increase in gross earnings

44

44

44

m




c

i

T>

T>

1

•

528

THE CHRONICLE.

[Vol. XXVIII.
cotton.

jinxes.

Friday, P. M.. May 23, 1879.
The Movement op the Crop, as indicated
by our telegrams
from the South to-night, is given below.
For the week ending
this evening (Alay 23), the total receipts have reached 16,673

COMMEROLAL EPITOME.
Friday Night,

May 23, 1879.
bales, against 19,897 bales last week, 19,031 bales the previous
regular trade. Supplies week, and 22,283 bales three weeks since; making the total
of grain at this point are greatly increased by receipts from receipts since the 1st of September, 1878, 4,372,608 bales, against
4,177,884 bales for the same period of 1877-8, showing an increase
the great lakes through the Erie Canal, and a fresh impulse is since
September 1, 1878, of 194,721 bales. The details of the
therefore given to the export. The speculation in cotton has been receipts for this week (as per telegraph) and for the
corresponding
unusually active, attended with wide fluctuations, much excite¬ weeks of four previous years are as follows:
ment, and an important failure. Agricultural prospects for the Receipts this w’k at
1879.
.1878.
1877.
1876.
1875.
coming season are generally good, notwithstanding the delay New Orleans
3,051
3,996
4,179
6,247
2,920
in planting caused by bad weather; and a cheerful tone Mobile
573
1,230
1,575
G34
1,226
543
pervades business circles. Money continues to lend on call at Charleston
869
608
1,734
3,574
There is little that is

new

to note in

....

low rates.

Port

Royal, &c

Savannah

After varied and marked fluctuations the

28

277

146

189

1,965
3,718

2,560
1,373

1,149

1.913

....

2,509

provision market Galveston
713
1,323
834
occupies a position about similar to that noted a week ago. Indianola, &c
4
22
38
81
At times rapid advances have taken place, based upon a spas¬ Tennessee, &c
4,147
2,933
2,592
1,519
3,583
modic speculative market at the West; at such intervals quite Florida
39
5
7
6
35
North Carolina
168
883
595
347
439
a good business has been effected here, but at the
close, in
Norfolk
2,727
2,282
1,236
2,816
2,583
the absence of strengthening influences from Chicago, the tone
219
896
88
City Point,&c..
98
107
lacks firmness. To-day, little was done, and the feeling was
Total this week
16,673
19,732
12,147
16,330
17,302
in buyers’ favor; old mess pork on the spot, §9@$9 25, and new
Total since Sept. 1. 4,372,608 4,177,884 3,895,974 4,004,104 3,396,636
mess, $i0@$10 25; June quoted $9 80@$10 20, and July, $9 90
<§)$10 20 bid and asked. Lard was neglected at 6/|c. for prime
The exports for the week ending this evening reach a total of
city on the spot and 6*35@6’37/£c. for do. Western; June sold 37,507 bales, of which 37,507 were to Great Britain, none to
at 6,35@6,37;%>c.; July quoted G*37/£@6‘40c.;
August quoted France, and none to rest of the Continent, while the stocks as
6’42/£@6'45c., bid and asked. Bacon easier and dull at 5c. for made up this evening are now 264,424 bales. Below are the
stocks and exports for the week, and also for the corresponding
long, short, and half and half. Butter sells fairly at the recent week of last season:
decline. Cheese has a moderate export movement at steady
EXPORTED TO—
Week
STOCK.
Total
Same
prices. Tallow in fair demand at G S-lG^G^c. for prime.
this
Week
ending
Great
Conti¬
Week.
1878.
There has been a fair business in raw sugars at firmer prices, May 23. Britain. France. nent.
1879.
1878.
the quotations for fair to good refining Cuba latterly being
N. Orl’ns
21,901 58,478 83,164
10,185
10,185
6%@G^c.
Mobile..
3,427
6,256
8,377
now

....

...

•

....

Jlcccipte since May 1, 1379
Hales since
Stock May 21,1879
Stock May 22, 1878

Hhds.

Boxcr.

50,925
42,715
52,512
45,453

Baga.

1,987
3,268
26,329
14,920

109,598
48,738
745,016
111,489

In Rio, colfee there have been fair transactions at
to

an

Melado.

Charl’t’n

1,558
1,571
2,106
1,016

Savan’h.

advance

1314c. for fair cargoes, while mild grades have been less active
steady ; late sales include 3,000 bags Maracaibo, 1,100 bags
Savanilla, 2,000 bags St. Domingo, and 1,200 bags Mexican. For
rice there has been a good demand at firmer prices, the
supply
not being excessive either here or at the South.
Molasses has
been moderately active and steady at last week’s prices.
Rates for ocean freight room have continued low and unsatis¬
factory to the holding interest; business, however, has been of
fairly liberal proportions, but any attempt to advance quota¬
tions is met by a withdrawal of exporters from the market.
Late engagements and charters include : Grain to
Liverpool,
by sail, 5d., 60 lbs.; flour, Is. 9d.; grain, by steam, 5d., 60 lbs.;
and provisions, 25s.@32s. 6d.; flour to London, by
sail, Is. 6d.;
grain to Hull and Glasgow, by steam, 5^d.(a>554d.; do. to Cork,
for orders, 4s. 6d.@4s. 9d. per qr.; do. to
London, 4s. l%d.; do.
to Bordeaux, 4s. 7d.; do. to Havre or Bordeaux, 4s.
4^d.; re¬
fined petroleum to the Baltic, 3s. 9d.@4s.; do. to
Liverpool,
2s. 10/£d.; do. to direct United Kingdom port,
3s. lO^d. To¬
day, rates were essentially unchanged, and business moderate;
grain to Liverpool, by steam, 5d.@5%d.; flour to London, by
Rail, Is. 7^d.; grain to Hull, by steam, 5%d.; grain to Antwerp,
4s. 4/£d. per qr.; do. to Cork, for orders, 4s. 10d.; do. to Lon¬
don, 4s. 3d.; do. to the Mediterranean, 4s. 7%d.
Kentucky tobacco has been more active, although the demand
is still quite moderate for export. Sales for the
week, 900
hhds., of which 700 for home consumption, and 200 for export.
Prices are firm ; lugs, 3@4^c., and leaf 5@12c. Seed leaf also
more active, and sales for the week are
1,150 cases, as follows :
600 cases 1877 crop, New England, wrappers, 14@20c.; 200 cases
1878 crop, New England, seconds and fillers, private
terms; 150
«ases 1877 crop,
Pennsylvania, 9%c. to 18c.; 200 cases 1878 crop,
Wisconsin, Havana seed, private terms. Spanish tobacco fairly
active, but at easier prices. Sales 600 bales Havana at 82%c.@
$1 07/6.
Naval stores have latterly shown less activity.
Spirits tur¬
pentine has declined to 28c., but rosins remain firm at $1 35@
$1 40 for common to good strained. Petroleum closes steadier
at 8/6c. for refined in barrels, after much weakness and
a good
business at 8%@S%e. American and Scotch pig
iron and rails
are momentarily
dull and without new features of interest.
During the early part of the week 2,000 bbls. crude sperm oil
>vere sold at New
Bedford, to come here for export, at 77/6c.
Ingot copper, after the late movement of five millions of
pounds, at 16c., for export, has advanced tol6%@16Mc. for
Lake. Whiskey quiet, at $1 04%>@1 05.
but




5,381
4,442
4,198
4,763
5,499
3,039

Galv’t’nN. York.

Norfolk-

Other*..

•

•

•

....

....

....

....

....

«...

....

....

•

•

5,381
4,442
4,198
4,763
5,499
3,039

1,678
5,276
14,336
6,465
5,564 10,999
8,845 164,550 149,808
5,417
5,562
3,908 18,000 25,000

37,507

38,081 264,424 294,506

* •

....

....

....

....

....

....

....

....

.

.

.

.

....

....

Tot. this
week..

37,507

Tot. since

8ept. 1. 1961,262 399,780 912,476 3273,518 3174,967
*

......

—...

The

exports this week under the head of “ other ports” include, from Balti¬
more, 800 bales to Liverpool; from Boston, 1,951 bales to Liverpool; from
Philadelphia, 279 bales to Liverpool.
t Actual count.

From the foregoing statement
with the corresponding week of
in the exports this week of 574

it will be

that, compared
there is a decrease
bales, while the stocks to-night
are 30,082 bales less than
they were at this time a year ago.
In addition to above exports, our telegrams
to-night also give
us the following amounts of cotton on
shipboard, not cleared, at
the ports named.
We add also similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale &

last

seen

season,

Lambert, 60 Beaver street:
On
May

23, at—

Liver¬

pool.
New Orleans
Mobile
Charleston
Savannah
Galveston
New York

Total

France.

Other

Foreign

13,000

5,500

1,954
None.

1,000
3,000

None.
None.
None.
None.
None.
None

500
None.
None.
None.
None.
None.
None.

18,954

5,500

500

None.
None.

Other ports

Shipboard, not cleared—for

*

Stock.

Total.

300

1,175
250
300
None.
None.

19,300
3,129

39,000
3,127

250
300
None.

4,036
5,564

1,428

*1,600
4,000

162,950

1,000

3,025

28,579

235,667

Included in this amount there are 600 bales at presses
destination of which we cannot learn.

The following is our usual table
cotton at all the ports from Sept. 1 to

Leaving

Coast¬
wise.

19,562

for foreign ports, the

showing the movement of

May 16, the latest mail dates:

Ports.

RECEIPTS SINCE
SEPT. 1.

1878.-

1877*

N.Orlns 1160,168 1349,529
Mobile. 358,854 405,868
Char’n*
Sav’li..
Galv.*.
N. York

Florida
N. Car.

Norf’k*

Other..

511,746 453,164
697,151 578,582
549,054 436,023
146,041 137,147
56,221
14,194
133,852 139,460
549,079 491,021
193,769 .153,164

nils yr. 4355,935

EXPOR TED SINCE SEPT. 1 TO—

Great
Britain.

„

France.

jForeign

Stock.
Total.

638,830 200,672 344,073 1189,575
56,000 35,583 29,677 121,260
145,029 ,, 57,140 176,143 378,312
200,590 23,646 232,677 456,913
59,478

219.320
218,673

12,035
1,967

13,756
44,472

2,050

189,727

713

197,358

496
■

61,010
24,355
135

18,589
5,098
17,719

68,033

6,928
8,017
5,526

6,338
342,808
255,063 165,169
15,858
738
65,111
195,533 10,800
215,573 23,000

1923,755 399,780 912,476 3230,011 294,549
i
■

i

Lastvr.

| Other

.

i

1158,152 2002,813 478.024 656.049 3136,886 332.892

*
Under the head of Charleston is included Port Royal, &c.; under the head of
Galveston is included Indianola, &c.; under the head of JSorf Ak is Included City

Point, &c.

0
5
.
6
0
03
6.2
.2
,.0
0
0
.1
1,*0
6

.
0
0
2
.
1
00
0
3
.
1
1
.
7
0365.22,*<0

529

THE CHRONICLE

0
2
.
4
4
3
0
4
.
1
00000
2
3
.
7
6
6
056.4.1
Mat

24, 1876.]

important

The market this week ka3 been greatly excited, an
advance taking place in prices, followed by some
Cotton on the spot has been in good demand for

Bales.
100..

Cts.

•

Cts.

Bales.

13 17
13-18
13-20

3,800

13 21

9 100

..13-77
13-78

H*«M

1,100

11*36

200

13 8)
13-81
13-82

100

11*61
11*62

Cts.

1,200

13*77

.000.0000413221..074251.21..25001
1.100..
900.
200..

depression.
home consump¬
tion, with some speculation. There was an advance of |c. on
Monday, and £c. on Tuesday, to 13fc. for middling uplands,
making an advance of 1 5-10@lfc. within a week. On Wednes¬
day, however, a reaction took place, and quotations were reducei
£c. Yesterday, there was a further reduction of ^c., with a dull

....

13-79

2,000..-

13*80

..

..

1323
13 24
13-25
13- 6
13-27

...

1381

Iv22

1,4'JO.,
1,500.
2,000.
3.400..

2 000
500

7 200

13-82

1,000

4,600

13-33
1384

800
1.300

Ctg.

Bales.
400

13 78
13-79

Bales.

13*84
13 84

It 53

0
1
.
3
5
2
5
8
1
.
0
00 46.13
1 700..

1,100.
400
600

To-day, prices were ^c. lower, middling
uplands closing at 13-Jc., or -fc. below the highest point. The
speculation in cotton for future delivery has been altogether
unprecedented, whether we consider the extent of transactions,
or the wide and frequent fluctuations.
The highest figures were
made on Tuesday, when, as compared with the previous Friday s
closing bids, the advances were 1 9-100(5)1 20-100c. for this crop,
54-l00@lc. for the next crop, the latter for October; and, as com¬
pared with the previous Tuesday (the excitement having begun on
Wednesday) the advances were 1 47-100(5)1 53*l00c.; and for the
next crop 1 02-100@1 80-100c. September (between crops and feel¬
ing somewhat the influences affecting both) advanced 1 3.2- 100c.
from Friday and 1 G9-100c. from the previous Tuesday.
These
important advances caused on Tuesday the failure of the highly
respectable house of Williams, Birnie & Co. ; and on Wednesday
it was apparent that the Bull movement was over for the pres¬
ent, there being a material decline on that day, especially for this
crop.
Yesterday, there was a further decline of 17 to 2b points,
the latter figure for October.
To-day, the market gave way
rapidly from the opening, under the large shipments reported
from Bombay, and a decline at Liverpool, but prices were quite
variable, September contracts in particular fluctuating widely.
The total sales for forward delivery for the week are 1,134,100
bales, including — free on board. For immediate delivery the
total sales foot up this week 5.585 bales, including —■— for export,
4,539 for consumption, 1,046 for speculation, and — aH transit. Of
the above, 250 bales were to arrive.
The following tables show
the official quotations and sales for each day of the past we$k:
Mon Toes

Ordin’y.$B> 11716 lli%6 12%6
Strict Ord.. Hly16 12316 121116
Good Ord.. 12316 129x6 131x6
Str. G’d Ord 12718 121%6 13°i6
Low Midd’g 129x6 121&16 13716
Str. L’wMid 12%

13%
13%

13%

Sat.

11916 lUSic
111516 l2oi6
12% 6 1211x6
129,6 121&16
1211x6 131x6
13%
13%

1278
13

15%

Wed

Ordin’y.$lb 12116
Strict Ord. 127i6
Good Ord.. 121516
Str. G’d Ord, 13*16
Low Midd’g
Str.L’w Mid 133s

Middling.

13

Th.

16

Wed

Fri.

lli516lin16
125ie 112*16'
12**16 127j6
12*516'121*16
13*16 12*316

13*4
1338

15%

15%

13

Fair

153*

1458
155s

11438
1153b

13

15%
16%

Fri.

11*316
12316
129l6
1213J6
12*516

Wed

2,700 .
1,3 JO..
3,400 .

15*3

15%

157e

1,700.

2 300..

3.900..
2.200..
1.900..

2.500..
1.990..
2,809.
600.

1.300..

900..
2 900.
2.000

.

2.700..
500..

1.800..

400..

12

12*3

12*4

1238

12 7e

125s

100..
600..
700..

500..
600..
800..
100..
1,100..
600..
400..

3.800.. ........13-98
1,000..

4.500..

200.
900..
300
.

4,600.
3,300.
1.200..

700..
700.
100..
200..
200..
200.
300.
800.
200..

1231S
12*16

12*316
121&10

Ex¬

port.

ConSpec- Tran¬ Total.
sit.
sump. ul’t’n

1,019
1,073

Irreg. & unsett’ld

813
579
341
711

Tues. Vei*y imsl’d.liigh.
Wed Qu’t, reduc’n or %
T11UT8 Dull- at % decl’ne.
Fri.
Quiet, % decline.

95
227

674

....

50

131,400

Total sales,

13-89
13 90

1,200
1,200

100

13-91

4,100
2.300

13«2
13 93
.13-94
:...13-9i

13-87

13-89
13 90
13-91
13-92

13-93

13-94

3,300.
2.400
2,2 0.

13-93

Deliv¬
eries.

Sales.

ugust.

lSTO

13 12
13 13
1314
1315
13-10
1317
13T8
13-19
1320
13 21
13-22
13-23

l,v>00

90 J..
800..

1.400

.

3.400..
«,TOO..

ioo

579 200,000
344 150,900
761 210,600

250
250
200

2.500..
4.200..
1,800.

800

100..
2 800.
7u0..
5 100.

1,134,100 bales.

For forward delivery the sale3 have reached during tlie week
L, 134 100 bales (all middling or on the basis of middling), and the
’olio wing is a statement of the sa*es and prices :

13-24
13-25

4,700.
2,100
1.800..

1,114 108,000
1,300 219.800
1,487 244.800

★

14-04
14 05

1.000

.14-07

2 300

14-11
14-12
14 13

1,1(0

14-14
.14 15
1416

2O'00

14-] 8

800

14-19

3,3C0

14'U0

300
600

13-26
13-27
13 28
13-29

.

1 2U0..

1330
1331
13-32
1333
.13-34

1335
13 36
16-37
13-38
.13 39
1340
1341
13-42
13-43
.18*44

3,000..
3,100..
5,000..
2,000..
6,200.
3.603..

14-21
14-22
14 23

14-25

14-27
1429

100
800

14-30
14*31

2,000

14-32

1433

50)
800

14-35

14-36

14 37

800

294,900

For September.
200
....12-82
400,
...12*83
....12*84
700
.12-85
2 100,
...12-86
4 600,

300.
400
700,

2,600.

200.

1,000
1.500.

1,500

800,

4,700,
4.500.
3.600.
4.500.
1.900.

4.400.

2.900.

8.300.

12,800.
3.900.

3.300.
1.400.

...12-87
...12-83
...12-90
....12-9L
...12-92
...12 93
.12-94
...12-95
...12-96
..12-97
.12-98
...12 99
...13-00
...1301
...1302
...1303
...1304
1305
...13-06
...13*07
...18-08
...13-09
...1310
..1311
...13T2
..13-13
.

.

..

..

..1314

2 900

3.400.

5.200.
1,700

4.600.
7i0

2.500.

13-15
1316

..

..

1317
...1318
...1319
...13-20
..

too.
900.

...13 21
...13-23

200
500.

...13-24
...13-25
...13-29
...13-0

700.

200.
300.
500.

1,000.
1.300.

800.
100
800.
800.

3.900.
3 200

2,000.
6.100.

1.600.

...13-33
13-34
..13-35
...1336
.14-37
13-38

..

1.900.
5.400.
2.200.
5,600.

;

I

14-14
14-15
14-18
11-20

For October.
11-81
200..
100.
.1182
11-83
100..
11 85
80)..
1L-86
100..
11-87
300..
11 88
1,000..
11-80
1,400
11-90
2.300..
800..
..1191
1193
6.400..
1103
1.900..
11 94
2.500.
11 9 5
600..
11-97
3(0..
11-98
700..
..

.11-99
....1200
....12 01
...12-02
12-03

...

....

200.

12 04
12-05
1206
1207
1208
12-03
12T0
1211
12-12
12-13
12 14
1215
1216
12T8
12-19
12 20

1.900..
600.
300

.

100.
700..
800..

1.500.

200..

1,200.

900..
700..

1.100..

500..

200..
5,00..
300.
200..
300..

12-23
12 25
.18-26
1227
12-28
12-29
12 30

300..
1500..
700.
200..

1.700..
800.

2,000..
2.100..
5.600.

....

200

11-43
11*44
1145
1140

1,200

300

1153

200

1154
11*65
-...11*56

1,000

.

4,000

1163

900

1104

700.200

700
200
500
100
600
800
100
200
400

.

!

100
200

I

12-52

1,900

12-53
12-54

200
100

200

1.500..

12-55
12-56
.12-58
1259
12-60

500..
400..

12-61

1115

12-63

.13-47
.13-48

4.100..
2.700..

12-65
12-66

11*8
1130
1144

...13-49

1.500..
1200..
1.100..

12-67

1145

1^-68
12-69
12-70

...1140

..

...13-39
13-41
...1342
...13-43
...13-44
...13-45
...13-i6
..

..

14-50

.

2.700..
800..
1,200

.

1,500

.

10

January.

11 48
.....

,

200 a.n.'2d. 13 55
100
100

.

.13 65
13-77

100 s.n.22d 13 84
800
13 90

6,000




500.
200.
500..
500.

1,200.
500.

1,400.
1300,

...

1310
1312
13 13
13T5
..13 36
13-38
1T39
.

1340

{300....

1.200.

13-64

500....

600.

13-70
.13-71
13-72
13-*5
13-86

1,100.
700.
2 100.
300

1,300.
1,300.
1,000.

...

700.

1,600

.

13 09
1310

...
..

..

..

.

..

....

...

1165
1106
1168
11*75
11 77
11*85
.1191
1192
11*99
12 08

8,900

.

..

..

1149
1161
1152
11*54
11*63
11 04

.

...

13-50

..

1150

..

..

12*00

12*01
12 02
12-19

58,800

..

.

200

11*92

1194
1185
1196
1197

4,000

...

5"0.

11*85
1180
1190
11 91

12*51

....

13 62
13 63

1160
1107
..1168
1109
1170
1171
11*72
11*73
,11*75
1179
11 80
11 82

300
200

,

.

600.
600.

11*06

100
100

.

.

1162

100

.

.

1159

1,200

..

..

lit#

11*00
.11-61

...

..

1157

300
tOO
700

12c6

7 400.

11*26
irar
11-41

1147
1149
1159
1151
1152

1.400.. ........12*37
12-38
1,M)0
12-39
1,400.
12-40
4.400..
12-41
1,£00
12-42
2.800..
12*43 I
2,100..
12-44 I
300.
12-45 |
3.800..

4.700..
2.700..

11 25

300
200
200.

1,000

12-31
12-32
12-33

12-46
12-47
12-48
12-49
12-c0

...

400
700
600

12-35

1.000..
1 500..

12-18
12-20
12*23
.12-30

F<>r December.
11*15
500.
500
,11*10
300
H-17
200
<..11*18
11*19
700
11-20
3 300
600. ...*•*■. 11*21
200
11*83
10)
11-23
500
H‘24

...12-34

10,600.
1.500..

12T0

100
500
200
200

12-22

1.200..

11-79

11-80
11-86
11-87
1188
11*84
11*90
11-92
11*95
11-96
11-97
11 98
11*99
12-03
12-07
12-09

900
200
200
800
100
500
800

44.500

.

1.800..
7.400..
1.200..
3,000..

U-77
11-78

700
500
400
200
100
600
100

336,100

....

..

11-74
11-75
1176

70)
100

.

.

11*78

1,200

14*18
1413

900
2 700
800
600
500
400

...13-51
1,200..
...13 52
.12-71
1.400..
Cts.
Cts.
Bales.
For June.
...1353
For May.
7,100.
900.
12-72
200
....13-87
1341
200.
cts.
...13-4
Bales.
Cta. Bales.
6.800
1273
200..
400.
13-90
13-45
12*85
300.
800.
..14*55
100
1281
2.700..
9.400.
12-74
1000
16461
.
0
13-43
6
13-99
12 80
100.
400. .
...13 56
300.
100 .
8.n.‘<? thl2 o20
17,800.
12-75
1400
13-49
6,900
700.
12" S7
1,500
600..
100.
...1357
BOO s.n 2 thl2 90
5.900.
12-77
300..
13 45
700
13-50 15.600.
12-88
!3'58
100 s.n.2 1.1294
3,000.
2,000..
12*78
200..
1351
200.
13-46 48,700
800..
...13 59
300.
12-89
7 900.
100 s.n i.’Cthl2,95
12-79
300..
13-54
13-47
12-90
700.
300..
...1360
8'H).
100
12 97
11.600.
12-80
For July.
13-48
1355
4,300...
12-01
500.
300..
...13-61
200
.12-93
1,000.
8,200.
12-83
12-95
400..
H-49
106....
1 v59
200.
100
...13-62
12-92
200
12 99
9.900.
1,000.
12-84
100
20w....
12-96
13-62
13-50
400..
...12-95
...1-63
200
1301
1,100.
8,’00.
1,300.
500.
12v5
12-97
13-51
600..1.
13*64
900.
700..
500..
12 96
...1364
300
..13-30
7,50).
1300
12-9*
300..
400....
18-65
13-52
600..
1298
...13 65 |
20).
100
13-31
1,500.
8,40-).
500....
...16*00
13-53
13-66
700.
1300
700..
1366
3 900.
200.
2.800..
.....13-34
100.
13-55
......13 02
1367
200.
1367 154,800
1301
7 300.
500 s.n. 2latl3-33
3100.
2.900.
700....
1303
13-68
13-50
300.
13-02
...13-68
3 000.
..
1 000.
04.4
500 s.0
13-40
n
For November.
1304
13 69
13-57
900.
3,100....
1304
5 500...
...13 69
100
13-40
1,800.
1,000..
4.800.
13 05
13-70
13-53
...13-70
1,200
11 25
1.000.
300..
1305
300..
13* *3
2.200..
1.900.
500
11-28
...13-06
13-5)
13-71
200.
2.800.
...13-71
1300
600.
700.
2,100..
900
13-44
1307
100.
200
11 29
13 60
13-7^
800.
...13-72
1307
1.200
100
1315
1,300.
3,400.
13
08
600
li-30
13-61
700.
2,300
13" <3
1308
13 73
4.000.
200
13-48
1,800
Ii700.
600..
6 500..
4 800.

11'72

800

2.200..
1.600.

1.900.

3.200.

11-71

90)

3,* 00

14-17

400
300
300

11-64
11-70

1,700

14-01

14-03
1404
14-05
1406
14-08
2.000
14 09
5.200. ........14 10
200
300
700..
20!)

14-03 i
.....14-09 i

14-10

1167
H-68

400

300.
1, 00

13-98
13-99

1,000

14-03

700

900
900

13-93
13-97

1T61

1162
11-63
11*65

1400

1401
.14-02
14-03

1,900

...

3 800
800

...13-98
13-99
...14-00

2,100.

3.500.

For A
300..
100..
500.
500..
<.00.

13-93
13-97

600
800
300

3 900.

12*4

—

*

1,200
4,500

800.

Fri.

FUTURES.

5,585

4.53) 1,046

Total

3 100
800

14-10
.14 11
1414
1415

14-25
1 300.
40 J.. ........14*26

12**16 13316 ,12*516 12*316 12*1,
12*516 13716 13316 13*16 12* 16

8ALE8 OF 8POT AND TRANSIT.

SPOT MARKET
CLOSED.

.

1 000

6,200.
2 900.

14-23

300...

5.800..

.

1388

13 86
13-87
13"8

13-99
14-i 0
1401
140 4
14-04
1405
1406
14-07
14 08
14-09

1417
1418
1419
14-20

1,200..

1178

12*8
12*3

13-84
13-83
13-86
1388
1390
13-91
13 92
1393
1394
13-95
13-96
13-9?

1,3 JO.,
i^-oo.

11*316

Th.

13-81
13-82

100..

Fri.

15*3

1359
13-60
1361
13-62
1363
13-61
13-65
13-66
13-67
13-68
13- c9
J3-70
1371
13-72
13-73
13 74
13-75
13) 6
13-77
1378
1379
13*80

800..

13*516 13*316 13*16
14*16 13*316 143l6 14*16 13*316
14*3
14%
1434
14*3
1478
15%

...13-56
13-57
13 53

1,500.
1.700..

133b * 13*8
13*4
13*3

13*3
135s

.

600..
900..
400..

15%
16%

12316 12*16
12*26 12716
111^16 11*316
13316 13*16
13516 13316

..

4.200..

.

13-85

300

6 *00
13 28
13-29 I
13-30 I 2,000
13-31 1 14,000
13 32 |
13 35 ' 2,000
13-36
1.300
13-38
2,000
13-39
1 >"43
700
13-45
900
13-49

13-53
1354
1355

..00
7
.4
MARKET AND
SALES.

Mon

1,000

13-86

...

200..

13%

Th.

...

1,000..

127i6
12i%6
133i6
137ie
13916

14%
15%

Mod Tiles Wed

Good Ordinary
Strict Good Ordinary
Low Middling

Sat.. Firm

13-85

2.500

..13-50
13-52

2 700..

13%

14%
15%

1338
13*8
13*2
13*4
1358
13*516 13*3l6 13*16

1478
157s

200..

1378
14316 13%6 1311x6 14*16
147x6 139is 1315ie 147x6

13*2

13*8

STAINED

Middling

Th.

12316 12*16
12*16 12716
12*516 12*316
13316 13*16
135ie 13310

Good Mid..!l3i316 13**16 13716
Str. G’d Mid 14i16 13*516 13**16 14316

Midd’g Fair 14 %

.

127x6 119J6 1U%6
12i%6 ll.loie 125i6
133i6 12°i6 1211x6
137i6 129i6 1215i6
139l6 121%6 131x6
13%
13%
12%
137a

,

Mon. Taes

Sat.

Mon Tues

13%
Middling... 127a
Good Mid
13%6 !39i6 141x6 135x6 131116
Str. G’d Mid 137j6 131316 14&16 13916 131516
8)4
1
15
14%
14%
14%
Midd’g
Fair
)5
Fair 1

3 200

018.1

Sat.

..

900.
200..
800.
500..
200..
800.
300
200..
500..
100..

TEXAS.

NEW ORLEANS.

UPLANDS.

May 23.

...

.

.

2,400.

market at the decline.

May 17 to

.

11*54
11-55
11-56
11-58
11*60
11 60

900
400
700
300
700

..

1311
1312
1313
1314
13 15
13-16

.

.......

13 74

1,800..

13-75
1376

6,000.3.900. •

The

..

13-74
1375
...13- -.6

6,000.

..

4.500.

..

1500.

600

11 31

1,000

11-82

500

11 33

For
100

Too

following exchange has been made during the

2-20 pd. to

exch. 1,000 Sov. for August.

February.

week:

...11 66

CHRONICLE.

THE

530

The following will show the range of prices paid
and the closing bid and asked, at 3 o’clock P. M., on
the past week.
Futures

Saturday.

Monday.

Market.

Higher.

Excited.

Excited

-

For

For

Closing.

Day.

Day.

High. Lore. Bid. Ask High. Low.
1301-12-81 13-00 — 13-40-13-30
“
13-38-13-38
g.n.
13*15-12*8() 13-05 06 13-59-13-36
June.
13-32-12-95 13-23 25 13-77-13-29
July..
August. 13-45-1314 13-35 36 13-87-13-35
Sept’b’r 13-15-12 85 13 04 05 13-62-1307
October 12*10-11 99 12 09 10 12-45-12-09
Nov’ber 11-63-11-51 11-59 60 11-80-11-65
Dec’ber 11*54-11*42 11-48 49 11-71-11-58
Jan’ry . 11-54-11-44 11-50 51 11-68-11-63

May...

—

-

—

—

—

.

11-56-11-56
13-00
Tr. ord.
Weak
Closed.

Feb’ry

—

—

—

.

Closing.

For

Closing.

Day.

Bid. Ask
Bid. Ask High. Low.
13-42 44 13 90-13-77 13 83 85

13-84-13-84
13-47 48 1400-13-60 13-91 92
13-64 — 14-26-13-72 14 06 07
13-76 77 14-37-13-85 14*18 —
—

13-53
12-38
11-76
11-66
11-67

—

—

—

54 14-20-13-61 13*92 93

67 12*19-11*64(11*71 73
69 12*02-11*65 11*76 77
.

—

—

.

13*75

13-45

Unsettled.

Barely Steady.

Futures

Wednesday.

Thursday.

Friday.

Market.

Lower.

Lower.

Lower.

For

Day.

High.

May.
“

..

s.n.

June...

July
August.
Sept’b’r
...

October
Nov’ber
Dec’ber

Jan’ry
Feb’ry

Low.

13-65-13-48
13-55-13-40
13-72-13-50
1401-13-65
1412-13-82
13-90-13-53
12-65-12-40
11-86-11-65
11-6911-55
—

.

.
—

-

Bid. Ask

Day.
Low.

High.

Closing.
Bid. Auk

13-49 51 13-45-13-33 13-30 31
—

—

—

.

—

—

13-59 60 13-6413-38 13-38
13*79 80 13-78-13-57 13 57
13-95 — 13-92-13-73 13-73
13-65 66 13-65-13-44 13-45
12-51 52 12-49-12-25 12-25
11-73 74 11-6911-53 11-55
11-62 63 11-6011-41 11*42
11-64 66 11-54-11-44 11-43

—

40
58
74
46
26
57
44
45

For

Day.*

High. Low.
13 01-12*97
12*95-12*82
13*12-12-85
13-30-13-11
13 50-13-10
13-2412-92
12-08-11-81
11-35-11-28
11-27-1115
11*30 11*13

Bid

—

13*15 16
13 29 30
13 05 06
11*87 —
11*32 33
11 25 —
11*27 29

—

13‘£>5

12*95

13-35
Weak.

Steady.

Barely steady.

To 2 P. M.

The Visible Supply op Cotton, as made up by cable and
telegraph, is as follows. The Continental stocks are the figures
of last Saturday, but the totals for Great Britain ar.d the afloat
for the Continent are this week’s returns, and consequently
brought down to Thursday evening; hence, to make the totals
the complete figures for to-night (May 23), we add the item of
exports from the United States, including in it the exports oi
Friday only:
1879.

Stock at Liverpool
Stock at London
Total Great Britain stock

.

Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Hamburg
Stock at Bremen
Stock at Amsterdam

1878.

1876.

1877.

566,000
44,250

888,000 1,190,000 1,042.000
8,750
59,500
46,000

610,250
137,250
2,750
47,750
3,000
28.250

896,750 1,236,000 1,101,500
182,250
235,000
228,250
7,500
6,000
12,000
67,000
90,750
44,000
15,500
14,250
7,500
65,500
51,750
44,500
04,000
62,000
56,000
15.750
11,750
12,500
19,750
6,500
8,000

41 750

750
455
58

3,175

269

991

3,014
820

208

892

47

213

589

275

Montgomery, Ala

2,392

1,717

59

203

409

370
284

Memphis, Tenn..
N ashville, Tenn..

850

5,210

2,529

60

6,482

238

19,875
2,332

Total, old ports.

1,491

7,503

32,017
62
174
721
675
249
729
25

Selma, Ala

Dallas, Texas....
Jefferson, Tex....
8hreveport, La
Vicksburg, Miss
Columbus, Miss..
..
.

.

,

Stock at Rotterdam

2,000

Stock at Antwerp
Stock at other conti’ntal ports.

1,750

5,750

19,750

20,000

23,250

Total continental ports....

270,250

437,750

492,000

461,250

410"
694
7
*435
6
370
83
102

573
2

11,108

28,310

34
126
599

32
143
811

411

625

50
170
1
122
120

90
270

348

453

184

95
343
376
393
200
772:
401

10,192
3,602

1,256
4,072

3.123

3,432

4,217

5,755
6,145

Total, new p’rts

5,829

7,637

19,412

7,309

10.130

17,995

Total, all

7,320

15,140

51,429

11,200

21,328

46,305

*

Increase of

....

163

1,864

....

538
581

140
195
2 279

78
288

2,656
580
279

receipts not from plantations but from Cutlibort, Ga.

The above totals show that the old interior stocks have
decreased during the week 6,012 bales, and are to-night 3,707
bales more than at the same period last year.
The receipts at the
same towns have been 2,400 bales less than the same week last
year.
Receipts prom the Plantations.—The following table i*
prepared for the purpose of indicating the actual movement each
week from the plantations.
Receipts at the out ports are some¬
times misleading, as they are made up more largely one year
than another, at the expense of the interior stocks.
We reach,
therefore, a safer conclusion through a comparative statement
like the following:
RECEIPTS FROM PLANTATIONS.

Week

Receipts at the Ports. Stock at Inter’r Port s Rec’ptsfrom Plant’n«

ending—

1877.

1878.

1879.

115,268 105,755 143,155
101,132 142,099 121,091
17
115,015 153,727 113,613
24.
109,447 164,059 148,640
31
138,374 159,186 167,097
7
Feb
140,006 137,138 171,608
14
120,720 120,090 150,841
21
88,068 109,736 134,328
28...... 68,615 94,349 110,047
Mar. 7
50,742 9o’o47 83,266
14
44,537 82,264 78,490
21
32,366 75,723 60,202
28
30,397 65,470 60,098
26,287 59,886 54,283
Apr. 4
11
21,183 51,391 44,851
18
18,010 39,010 40,187
25...... 26,641 38,856 36,183
May 2
16,560 31,196 22,2?3
9
17,309 24,252 19,031
16
16,288 20,097 19,897
23
12,147 19,732 16,673
3

Jan.
4 4

10

44

44

4

4

44

41
44

44
44

44

'

44

44

44

44

44

880,500 1,334,500 1,728,000 1,562,750
172,000
310,000
355,000
329,000
▲mer’n cotton afloat for Eur’pe 332,000
347,000
292,000
236,000
43,000
12,000
18,000
31,000
Egypt,Brazil,&c.,aflt for E’r’pe
Stock in United States ports
264,424
294,506
453,197
407,747
Stock in U. 8. interior ports..
32,017
45,888
28,310
57,952
United States exports to-day..
3,000
4,000
2,000
15,000

175
669

3,891

298
-

1,889
1,758

44

Total European stocks..
India cotton alloat for Europe.

18
o/

543

5,783
1,5161,879
3,485
1,728
12,893
1,026

Eufaula, Ala
Grittin, Ga
Atlanta, Ga
Rome, Ga
Charlotte, N. C...
St. Louis, Mo
Cincinnati, O

12*92 94
—

Receipts Shipm’ts Stock.

127
41

Auk

12-97 99

141

Stock.

Week ending May 24, ’7S.

Augusta, Ga
Columbus, Ga....
Macon, Ga

Closing.

.

Tr. ord.
Closed.
*

—

For

Closing.

Receipts Shipm’ts

—

—

40 13 00-12-48 12-68 70
77 12-30-11-78 11*88 90

—

Week ending May 23, ’79.

for futures,
each day in

Tuesday.

[Vox-. XXVlit

1877.

1878.

1879.

249,905 253,239 281,634
223,007 236,293 253,647
214’057 237^380 233,236
195,082 242,013 218,585
182,240 244,494 220,935
179,266 240,708 214,117
174,977 233,103 190,765
173,478 226,685 182,246
173,178 210,935 170,438
169,291 192,405 165,619
165,747 169,636 159,418
158,041 146,653 141,012
151,199 131,795 131,463
140,649 119,991 110,879
133,363 108,633 107,005
128,411 95,979 91.966
117,074 89,142 87,294
107,534 75,550 78,902
97,096 65,770 71,540
86,370 50,433 59,249
79,009 46,305 51,429

1877.

1878.

1879.

108,776 157,118 130,506

74,234
106,005
90,472
125,532
137,032
110,431
86,569
68,315
46,855
40,993
24,660
23,555
15,737
13,897
13,058

15,304
7,020
7,471
4,908
4,780

125,153
154,814

93,104

93^202

168.692 133,997

101,667
133,352
112,485
103,3ie
78,591

72^47-;

109,447
164,799
127,489
125,809
98,239
78,447
72,289
42,396
50,549
39,699
34,977
25,148

59,435
52,740
50,612
48,082
40,033
26,302
32,019 31.511
17,604 13,W51
14,472 11,015
10,760
7,000
9,604
8,853

..

..

.

Total visible supply
1,833,941 2,198,316 !2,851,085 2.707,449
Of the above, the totals of American and other descriptions are as
follows:
American—

Liverpool stock
Continental stocks
American afloat for Europe....
United States stock

United States interior stocks..
United States exports to-day..
Total American

455,000
232,000
332,000
264,424
32,017
3,000

671,000
372,000
347,000
294,506
28,310
4,000

757,000
396,000
236,000

453,197
45,888
2,000

636,000
317,000
292,000
407,747
57,952
15,000

1,318,441 1,716,816 1,890,085 1,725,699

Fast

Indian, Brazil, dc.—
Liverpool stock
London stock

111,000

44,250

Continental stocks

38,250
310,000
12,000

India afloat for Europe

Egypt, Brazil, &c., afloat
Total East India, &c
Total American

217,000
8,750
65,750
172,000
18,000

433,000
46,000
96,000
355,000
31,000

406,000
59,500
144,250
329,000
43,000

515,500
481,500
961,000
981,750
1,318,441 1,716,816 1,890,085 1,725,699

Total visible supply

1,833,941 2,198,316 2,851,085 2,707,449

Price Mid. Upl., Liverpool
6%d.
7i16d.
filled.
6i516d.
These figures indicate a decrease in the cotton in sight to-night
of 364,375 bales as compared with the same date of 1878, a de¬
crease of 1,017,144 bales as compared with the
corresponding date
of 1877, and a decrease oi 873,503 bales as compared with 1876.
—

At the Interior Ports the movement—that is the
and shipments for the week, and stocks to-night, and

receipts
for the

corresponding week of 1878—is set out in detail in the followingr
statement:




The above statement shows—
1. That the total receipts from the plantations since Sept. 1 in
1878-9 were 4,418,385 bales; in 1877-8 were 4,207,707 bales; in
1876-7 were 3,926,657 bales.
2. That although the receipts at the out ports the past week
were

16,673 bales, the actual movement from plantations was

only 8,853 bales, the balance being drawn from stocks at the
interior ports.
Last year the receipts from the plantations for the
same week were 9,604 bales, and for 1877 they were 4,780 bales.
Weather Reports by Telegraph.—Our
in the most

reports to-night are
In the coast belt of Texas they

part very favorable.
needing rain badly, and at a few other points of other States
there has been more than desirable.
But with these exceptions
the progress making is very satisfactory, and the condition has
greatly improved.
Galveston, Texab.—The weather during the week has been
warm and dry, and the eoast belt needs rain badly.
The rest of
the State is doing well.
The thermometer has averaged 79, the
highest poiut reached having been 89, and the lowest 73.
Indianola, Texas.—There has been no rainfall the past week,
and rain is greatly wanted.
The thermometer has langed from
72 to 95, averaging 83.
'
Corsicana, Texas.—We have had rain on one day during the
week, a mere sprinkle, the rainfall reaching three hundredths of
an inch.
All crops are prospering.
Average thermometer 80,
highest 97, and lowest 55.
Dallas, Texas.—It has been warm and dry throughout the
week, just such weitlier as was wanted. The wheat harvest is
nearly over. All vegetation is growing rapidly, except in creek
bottoms.
The recent hard rains did less damage than then sup¬
posed. The thermometer has averaged 80, the highest being 97,
are

and the lowest 55.

Brenham, Texas.—We have had warm, dry weather through¬
the. week, the thermometer averaging 84, and ranging froiiL

out

May 24,

THE

1S79.]

The

Crops are doing remarkably well, and promise to be
early, notwithstanding the defects of the planting seas. n. Corn
and fruit are very fine.
New Orleans, Louisiana.—There has been no rainfall during
77 to 96.

•

!

The thermometer has averaged 79.
Shreveport, Louisiana.—The weather during the week has
been warm and fair, the thermometer averaging 76, the highest
being 92, and the lowest 60. There has been no rainfall. River

Receipts.

March...

93,491
578,533
822,493
900,119
689,610
472,054
340,525

April

167,459

197,965

Novemb’r
Decemb’r

January
February.
.

..

..

during the week

shall

*

5....

4,854

“

6....

3,936

“

7....

2,726

8....

2,439
2,621
1,953

“

9....

11....

“

12....

Montgomery, Alabama:—It has rained here on three days, the
reaching one inch, but the balance of the week has been
pleasant. We have had delightful showers this week, and the
indications are that they extended over a wide surface. Planters
are giving increased land to cotton this year.
We have secured
a
good stand. Average thermometer 75, highest 92, and lowest

“

13....

“

14....

"

15....

“

16....

“

17....

61.

“

19....

4,074

“

20....

“

21....

4,097
2,759

“

22....

“

23....

92 and the lowest 63.
rainfall

Selma, Alabama.—During the earlier part

“

of the week we had

days, but the latter portion has been clear and
pleasant. The crop is developing finely.
Madison, Florida.—Rain has fallen during the week on four
days. The thermometer has ranged from 82 to 72, averaging 77.
three

.

fall for the week is nineteen

hundredths of

an

inch.

Charleston, South Carolina.—It has been showery three days
week, the rainfall reaching two inches and forty hun¬
dredths.
The thermometer has ranged from 66 to 84, averaging
of the

75.
Comparative Port Receipts and

Daily Crop Movement.—

comparison of the port movement by weeks is not accurate,
the weeks in different years do not end on the same day of the
month.'
We have consequently added to our other standing
tables a daily and monthly statement, that the reader may con etantly have before him the data for seeing the exact relative
A

225

17, ’79, TO FRIDAY, MAY 23, ’79.

Char¬ Savan¬ Galleston. nah. vest’n.
•

Nor¬
folk.

Wil¬

All

ming¬ others.
ton.

j

[

601

689

5

454

417

797

494

24

422

1,446
1,052

2,718
4,074
4,097
2,759

20

1,541

Mon

1,189

571

601

133

40

569

905

393

10

749

204

39

158

156

400

1

Thur

39

41

169

314

663

286

4

Fri..

234

56

91

46

591

465

1

1,230

543

1,965

3,718

2,727




Total,

461

Tues
Wed

3,051

163,593

383,324
251,433
133,598

to April 30 the receipts at thi*

45

....

3,394

1,484

16,673

1875-76.

1876-77.

1,541
1,484

2,032

S.

5,164
4,062
3,851
4.257

4,886

2,925
S.

4,324
3,390
3,619
3,232
2,607
2,703
S.

4,140
2,696
2,915
2,129

4,761

S.

4,694

5,243
4,187
2,435
1,794
3,575
2,489

8.

7,003
2,484
4,642
3,478
3,594

S.

2,882
8.

4,167
2,644
2,075
2,895
3,634
1,304

6,189
2,786
2,902
2,039
3,841
1,775

8.

S.

2*927

4,394
2,427

2,756
894

1874-75.

1873-74.

2,117
2,584

5,570

2,943

3,298
5,915
2,971

2,918

2,275
S.

8.

5,161

9,842

2,945
3,371
3,415
3,683
4,465

3,378
4,274

3,741
4,311
3,824

8.

8.

3,654
2,130
2,651
1,584
3,429
3,154

9,717
4,672

4,666
3,042
4,723
4,791

8.

4,372,608 4,172,735 3,891,598 3,995,823 3,334,370 3,647,621
95-34

96-37

96 02

96-77

95-88

that the receipts since Sept. 1 up to

Planters Selling for Fall
the

following

Delivery.—We have received

:

Boston, May 19,1879.
Commercial and Financial Chronicle.
Dear Sir : In your issue of May 10,1 noticed an article under the head
of “ Prices of Futures in Liverpool,” in which you state that “ they are
paying at Liverpool to-day 7 l-32d. for cotton, September and October
delivery. This means, we believe, a trifle over 12c. at Savannah.
Would it not be wise for planters, at that figure, to let Liverpool buy, if she will, all they (the planters) will have ready for delivery at that
time of their next crop V’ And you advise them to do so. In your issue
of the 17th you call attention to this previous admonition, and reiterate
To the Editor of the

“

“
“

“
“

it.

planting, I would esteem it a
understand this would work.
delivery
and make sales,
Ootober
Savan¬
nah, or if shipped by steam, the cotton must be on board, and the steamer
cleared from there by October 1 (not later), to reach Liverpool in time to
deliver the cotton in‘October. Very few of our planters got more than a
few bales into the Savannah market in September, and the crop is back¬

Being very largely interested in cotton
favor if you would explain just how you
You advise planters to sell September and October contracts for
in Liverpool at 7 l-32d. If they should take this advice,
where would they get the cotton to deliver 1 September and
deliveries in Liverpool mean July-August shipments by sail from

ward now about two weeks.
Your reply to above will be

Our

to
as

44
1G0

Tot..

S.

highly appreciated by

Yours

truly,

J. M. Glidden.

remarks very liter*
particular, and quite tbe contrary in another.

correspondent seems to have taken our

named. First we give the receipts at
ally in one
each day of the week ending to-night.
1st. He has

239

300,128

to-night are now 199,873 bales more than they were to the same
day of the month in 1878, and 481,010 bales more than they
were to the same day of the month in 1877.
We add to the last
table * the percentages of total port receipts which had been
received May 23 in each of the years named.

movement for the years

SATURDAY, MAY

1877-78.

This statement shows

«

Columbus, Georgia.—We have had warm, sultry, wet weather
week, the thermometer averaging 80, and the rainfall
reaching ninety-five hundredths of an inch.
Savannah, Georgia. —Rain has fallen on four days, to a depth
•of thirteen hundredths of an inch, but the balance of the week
has been pleasant.
The thermometer has averaged 78, the high¬
est being 88, and the lowest 65.
To net receipts received pre¬
viously, add 3,082 for corrections discovered on taking stock.
Augusta, Georgia.—It has rained lightly on two days the ear¬
lier portion of the week, but the latter part has been clear and
pleasant. The weather is so unfavorable much seed planted has
failed to come up, and considerable replanting will have to be
done. In the main, however, crop accounts are more favorable.
Average thermometer 74, highest 91, and lowest 62. The rain¬

3,998
4,211
3,161
1,771
4,803
2,718

Percentage of total
pt.reo’pts May 23.

Macon, Georgia.—There has been no rainfall during the week.
Crop accounts are more favorable, and we could not wish for
better weather than we are now having.
The cotton plant is
looking healthy. Average thermometer 73, highest 89, and
the past

8.

18....

Total

delightful showers this week, apparently covering

a

flat..

355,323
576,103
811,668
702,168
482,688
332,703
173,986

676,295
759,036
444,052

“

“

10....

Mo¬
bile.

115,255

Apr.30 4,307,978 4,099,790 3,834,786 3,921,275 3,319,082 3,549,894
4,399
3,097
2,501
2,013
4,145
2,575
May 1....
“
S.
4,976
3,561
3,551
2....
2,707
6,454
“
8.
3....
1,675
7,347
4,906
7,161
2,455
6,694
4....
5,874
S.
4,512
2,032
3,098

“

of
Or¬
we’k leans.

134,376

536,968

T’l

“

D’ye

169,077

610,316
740,116
821,177
637,067
479,801

be able to reach

1878-79.

County, Ala., earlier than ever before known. We hear rumors
of the appearance of caterpillars, but think them of little conse¬
quence.
The thermometer has averaged 76, the highest being

New

1873.

for the different years.

The rest of the week has been warm and pleasant. Accounts
are more favorable and the crop is developing promisingly.
We
have secured a good stand of cotton.
Reports from Dallas

PORT RECEIPTS FROM

1874.

April 30 the daily receipts since that time, we
an exact comparison
of the movement

above totals to

hundredths of

Mobile, Alabama.—It has been showery three days the past
week, the rainfall aggregating sixty-two hundredths of an inch.

<each port

j

ports this year were 208,188 bales more than in 1877 and 473,192
at the same time in 1876.
more than
By adding to the

and 89.

lowest 55.

236,868
675,260
901,392
787,769
500,680
449,686
182,937
100,194

This statement shows that up

an
extreme range
having been 55 to 90.
Memphis, Tennessee.—It has rained on three days, the rainfall
reaching forty-four hundredths of an inch, but the rest of the
week has been pleasant. There is some grass in bottoms, other¬
wise the crop is developing promisingly. Planters are giving
over five per cent more land to cotton this year than last.
The
thermometer has averaged 74, with an extreme range of 59

We have had
wide area.

1875.

bales

four days, the rainfall reaching twenty-eight
inch.
The thermometer has averaged 71, the

on

Beginning September 1.

Tot.Ap.30 4,307,978 4,099,790 3,834,786 3,921,275 3,319,082 3,549,894
Pero’tage of tot. port
94-91
93-56
93-31
94*96
94 34
receipts April 30.

inch.

Nashville, Tennessee.—We have had showers

rain

Sept. 1 has been as follows:

1876.

1877.

288,848
689,264
779,237
893,664
618,727
566,824
303,955

October..

Vicksburg, Mississippi.—Crop accounts continue favorable.
Columbus, Mississippi.—It has rained during the week on five
days, two days severely, the rainfall reaching two inches and
three hundredths.
The thermometer has ranged from 75 to 83.
Weeds are growing so fast they are becoming very troublesome.
Little Rock, Arkansas.—Friday, Saturday, Monday and Tues¬
day last were cloudy, with quite a thunder storm and a light
rainfall on Tuesday.
The remainder of the week has been clear
and pleasant.
The thermometer has averaged 72, the highest
being 87, and the lowest 58. The rainfall for the week is four¬
on

each month since

1878.

Sept’mb’r

twenty feet.

teen hundredths of an

movement

Year

the week.

...

531

CHRONICLE.

taken us too literally

when he confines our advice

Savannah, and the month to October. Each was given simply
illustration.
We were not speaking to Georgia planters only,

planters as well, and the quotation for September
delivery was used simply because that came in by
cable at the time we first wrote.
What we meant to be under¬
stood as saying was that 7 l-32d. was a good paying price, and if
we were planters and could get it for any portion of our crop, w«
but to Texas

and October

would

secure

2d. We

are

it at once.
not taken

quite literally enough when our corres¬

pondent writes about the quantity

planters will have to spare at

532

THE CHRONICLE

that time.

have been

We only advised them to sell what they would be

doing in April, is there any escape from the conclu¬
they must pay what holders choose to ask for the
remnant of the crop ? Mr Ellison’s circular is as follows :

sion that

of having. Therefore, whether any cotton leaving here
later than October 1 could reach Liverpool in time for delivery,
and how much they will have for delivery, are questions that do
not affect our remark.
sure

COURSE OF THE LIVERPOOL

April 9th. The market had
the month ended on the 4th
ult., but became quieter and lost l-16d. to %d. The improve¬
ment was due almost entirely to the upward movement at New
York, and to more or less active buying on American account on
this side. The subsequent lull was due to the continued
lethargic state of business in Manchester, which market had
only partially responded to the rise in the raw material. The
market was closed between Thursday evening the 10th (on
which day prices gained l-32d. to l-16d.) and Tuesday morning
the 15th. for the Easter holidays. Meanwhile, New York
had on the 10th and 14th advanced %c. to %c. on the spot, and
5-16c. to 7-16c. for futures. The consequence was that the
market here re-opened strongly on the 15th, and thence to the
18th gained %d. on the spot and 3-16. to %d. for futures, Mid¬
dling Upland on the spot being quoted 6%d. against 6 l-16d. on
he 9th April, and 5 5-16d. on the 4th March. Between the 18th
and 22nd there was a paufce, owing chiefly to a re-action at New
York. The weakness was especially conspicuous on the 22nd,
in the morning of which a decline of 9-32c. to ll-32c. was
announced as having taken place at New York on the previous
day. The fall was so unexpected that it quite demoralized
operators and led to an instantaneous drop of 3-32d. per lb.
making a total fall of 3-16d. to %d. since the 18th. There was

our

He who selle what isn’t

Must

buy it in,

or go to

hie’en,
prison.

,

Georgia Agricultural Dept. Report for the Month
April.—This report states that there is no material change

of

in
planted in cotton, the increase for the whole {State
being only one per cent over that of last year. The crop gen¬
erally was planted later than last year, and its condition is 8 per
cent below an average, and the condition last year at the same
date.
There has been eight per cent less commercial fertilizers
applied to the cotton crop of the State this year than last, while
there was six per cent more used last year than the year pre¬
vious.
Twenty-nine per cent of the area fertilized is manured
with compost.
Forty-six per cent of the crop was up on the 1st
of May, and, owing to the uousually cool weather, the stand has
been somewhat injured.
The area in com being rated at 100,
the acreage

steadiness in the afternoon, and thence to the 25t.h the
whole of the decline was recovered. Between the 25tli and 29th
the New York market was quiet, with the tendenc3r of prices
rather in favor of buyers. This fact, together with the absence
of anything encouraging from Manchester, led to a reduced
more

that in cotton in the whole State is reported at 96, or four per
cent less than that in corn, Middle Georgia having thirteen per
cent more land in cotton than in corn; Southwest Georgia, four

cent more; North Georgia, twenty percent less; East Georgia,
twenty-two per cent less, and Southeast Georgia, twenty seven
per cent less.
The areas in oats and wheat compared in the
game way wiih that in corn are
respectively forty-nine and
thirty-four. The highest ratio in oats is in Southeast Georgia,
where it is reported at fifty-nine.
The highest in wheat is in
North Georgia, where it is reported at fifty-three.
The lowest
in oats is in North Georgia, where it is reported at forty.
The
lowest in wheat is in Southwest Georgia, where it is reported at
twenty-two.

per

Alexandria
ments

Receipts

and

Shipments.—Through

business, and a decline of %d, per lb. between the 25th and
28th ult., Middling Upland receding to 6 5-lGd. on the spot and
6 7-16d. for instant

arrange¬

have made with Messrs.

Alexandria, Egypt, May 22.

1879.

1878.

1877.

187G.

Receipts (cantars)—
"

This week
Since September 1...

8,000

1,000

2,000

5,000

1,646,000 2,578,000 2,640,000 2,823,000

Exports to Europe (bales) —
This week
Since September 1...

G,000
238,000

1,000
395,000

2,000
427,000

1,000
451,000

This statement shows that the
"been 8,000 cantars, and the

receipts the past week have
shipments to all Europe have been

6,000 bales.
Ellison & Co.’s Circular

f

protested that the movement was the outcome of mere
gambling ; that it was altogether unwarranted by the facts of
the situation; that there was no chance of any corresponding
rise in the prices of yarns and goods, and, therefore, that
sooner or later a collapse would be
witnessed. Under such
circumstances a little caution on the part of speculators was not
surprising. Meanwhile, however, buyers in Manchester had
commenced to operate more freely. They had made up theix*
minds that nothing was to be gained, and that something
might
be lost by waiting. The movement gained strength from day to
day,and the upshot was that spinners were placed so largely under
orders that they commenced to buy eagerly at prices at which
speculators had paused. The appearance of spinners as exten¬
sive purchasers imparted renewed courage to speculators, and
the result was that between April 28th and May 6th an enor¬
mous business was done on the spot and in futures at
constantly
hardening prices, ending in an advance of %d. per lb. on the
spot and ll-16d. to %d. for futures. Yesterday and to-day a
much more subdued tone has ruled, and prices have given way
l-16d. to %d. on the spot and 5-32d. to 7-32d. for futures. The
total net advance for the month is 13-16d. on the spot and
17-32d. to %d. for futures.
COURSE OF THE MANCHESTER

for

May.—We

are

this week

in

receipt of Ellison’s circular of May 8th. If our readers will
compare the facts with those given by us in our article of last
week, they will find their teaching is very similar. We may sum
up the results about as follows: 1. The improvement in cotton
has been more rapid than the improvement in goods, so that if
last year’s price was a losing one for the spinner this
year’s
price must be less favorable, unless the gain by the economies of
the year (lower coal, wages, &c.) has been greater than
supposed.
2. About all of the loss in visible supply
during the month
appears in the increased spinners’ stocks which had reached
May 1st a total of 449,000 bales ; our estimate was therefore
probably correct which gave them May 15 (two months later) at
475,000 bales. Hence, spinners have the power to abstain from
buying. 3. These facts would inevitably lead to lower prices,
were it not that the total supply
of cotton to the first of October
is so small that there is no considerable
margin for increased
consumption in Europe or for unfavorable crop reports from
this side. Ellison, it will be seen, estimates the
weekly consump¬
tion for April at 57,000 bales in England and 48,000 bales on the
Continent, which is a gain of about 3,000 bales, showing that even
»t the higher prices the tendency has been towards an
enlarged
use of cotton.
4. We should liave supposed that under exist¬
ing circumstances of supply and prices of goods, Manchester
spinners would have given signs before this of contracting their
consumption. Should they take that course, the larger invisible
stocks they now have would give them a power
to keep out of
the market which would make itself felt very
decidedly on prices.
But if they are to follow the opposite course, as
they seem to




delivery.

Prices had got to a point at which speculators were beginning
to become very cautious. The rise from 5%d. to 6%d. had
been brought about mainly b/ the influence of speculators here
and in New York.
Throughout the advance Manchester

Davie3, Benachi & Co., of
Liverpool and Alexandria, we shall hereafter receive a weekly
cable of the movements of cotton at Alexandria, Egypt. The
receipts and shipments the past week, and for the correspond¬
ing weeks of the previous three years, have been as follows :
we

MARKET, APRIL 9 TO MAY 8.

Our last report was issued on
advanced 13-16d. per lb. during

correspondent seems to assume that planters wilL
sell, under our advice, what they will not have, and then asks us
how we 44 understand this will work.’’ Of course if they sell
more than they are sure of securing at that time, they will be
speculating, and in the contingency of the market being over¬
sold, would be likely to suffer for it. The old couplet appears to
outline the position in such a case quite faithfully:
3d. But

[VOL. XXV111.

MARKET, APRIL 8 TO MAY 8.

The Manchester market has followed the
in Liverpool slowly and
earlier part of the month

upward movement

reluctantly, especially during the

under review ; but the increasingly
strong position of the raw material has enabled producers to
sell much more readily than for some months past, and in this
way stocks in first hands have been materially reduced. During
the past ten days or a fortnight, the demand lias been especially
active ; but much of the business done was of a speculative
character, based upon the anticipation of very high prices for
cotton ; and it remains to be seen whether
consuming outlets
can be found for the products as the contracts
expire. In home
trade yarns, the advance in prices has been quite as great as the
rise in cotton, but export qualities have lagged considerably

behind. The rise in cloth has also been insufficient to cover the
advance in the raw material. From the opening of the year to
the beginning of March, Middling Upland fell from 5 7-16d. to
5 5-16d., but since the last-named date there has been a con¬
stant
is a

advance, gradual at first but rapid at last. The following
comparison of the prices current for cotton, yam and
shirtings, of specific qualities, on Tuesday, March 4, and Tues¬
day, May 6.
Mid. 32\s Cop. Mule
Water
Shirtings.
—*
Upl’d. Twist. Twist. Twist.
Common to best.
March 4. 5°iq 73b-8*8 8 -8*4 7*2-8 *4 5s. l*2d.-7s. Od. 4s. 5d.-6s. Oil.
May G.... G*516 9*8-958 8*2-9
834-9
5s. Gd. -7e. 9d. 4s. 9d.-6s. 7*2(1.

Advance. lSe

134-1*2

*2

-

34 1*4

-

34 Os. 4*2d.-0s. 9d. Os. 4d.-6s. 7*2d.

The rise in cotton is l%d. The average rise in yams is l%d
for 32’s Cop., %d. for Mule Twist, and Id. for Water Twist.
The rise in shirtings ranges from 4d. to 9d. per piece, or from
9-16d. to 1 l-16d. per lb. But as spinners have all along held a
fair surplus stock of cotton, they have no doubt benentted by
the rise which has taken place in prices. It is chiefly if not

entirely to this circumstance that must be traced the
balance sheets shown by the Oldham companies.
MOVEMENTS DURING THE SEASON OCTOBER

The deliveries to

1ST

English and Continental

improved

TO APRIL

consumers

30TH.

during

f

Mat 34,

THE CHRONICLE.

1879 ]

the first" seven months of the

have been

follows, com¬
pared with the figures for the corresponding months of last
season

as

season:

Great Britain.
1878-9.
1877-8.
No. of bales
1,536,170
Av. weight (lbs.).
443
Tot. weight (lbs.) 680,523,310

Continent.
1578-9.
1877-8.

,

.

1,636,220'
423
692,021,060

*

1,507,750

1,431,140

433

422

652,855,750

604,278,680

533

Bombay

Shipments.—According to our cable dispatch received
to-day, therehave bee a 40,00) bales shipped from Bombay to
Great Britain the past week and 6,000 bales to the Continent:
while the receipts at Bombay during this week have been 4o,00&

bales.

Ths movement since the 1st of

These

figures

are

January is as follows.
brought down to Thursday, May 22.

To last

year’s deliveries to English spinners must be added
4,345,000 lbs.—proportion of error discovered in the stock of
Surats, as explained in our report of twelve months ago—
making the total deliveries 696,466,060 lbs. The whole of the
discovered this year is deducted from the deliveries,
the previous stock-taking having been only six months back,
whereas last year the error was spread over twelve months.
The rate of consumption in Great Britain in April was proba¬
excess

bly rather larger than in March, say 57,000 bales, of 400 lbs.
each, per week, against 56,000 bales, or a total of 91,200,000 lbs.
About 20,000 bales, or 8,000,000 lbs., would be saved by the
Easter holidays, leaving 83,200,000 lbs. for actual consump¬
tion, which, added to the 550,400,000 lbs. previously, would give
a total of 633,600,000 lbs. as the quantity
spun during the nrst
seven months of the season, against 684,400,000 lbs. last season.
The rate of consumption on the Continent in April was proba¬
bly about 48,000 bales, of 400 lb3. each, per week, or a total of
192,000 bales, equal to 76,800,000 lbs., making—with the 456,-

000,000 lbs. consumed to the end of March—a total of 532,800,000 lbs.

for the first

540,000,000 lbs. last

seven

months of

the season,

against

season.

On the basis of the foregoing calculations, the movements
have been as follows this season compared with last. The stock
on hand on first of October is the
surplus shown in our Autumn

Annual:

/

Great Britain.
1878-9.
1877-8.
Lbs.
Lbs.

Surplus stock, Oct. 1. 13,800,000

.

13,800,000

,

Continent.
1878-9.
1877-8.
Lbs.
Lbs.

39,550,000

.

5,368,000

Deliveries to Apr.30.680,523,310 696,466,060 652,855,750 604,278,680

694,323,310 710,266,060 692,405,750 609,646,680
Supply
Consump. in 30 wks.633,600,000 684,400,000 532,800,000 540,000,000

Surplus
April 30.... 60,723,310
“
bales of 400 lbs.
150,000

Shipments this week
Great

Conti¬

Brit’n.

nent.

69,646,680
174,000

prospects.

A month ago we showed that the position of cotton was very
strong, even with the continuance of the then restricted rate of
the

season

that the supply in prospect for the remainder of

was

sufficient to meet that restricted rate of

con¬

Total.

nent.

Receipts.
This
Week.

Since
Jan. 1.

377,000 45,000
520,000 27,000
620,000 43,000

588.000
658,000
847.000

From the

foregoing it would appear that, compared with last
there has been an increase of 37,000 bales in the week’s ship¬
ments from Bombay to Europe, and that the total movement
since January 1 shows a decrease in shipments of 143,000
bales,
compared with the corresponding period of 1878.
year,

Gunny Bags, Bagging,

etc.—Bagging has shown

provement during the past week, although the parcels

some im¬
are still

small.
No change is reported in prices, which continue to rul»
firm in tone, and dealers are still quoting 9(&10£c.,
according to

quality. The sales foot up 1,200(5)1,500 rolls. Butts are mov¬
ing in moderate parcels, and there have been transactions to the
extent of 1,500 bales at 2£(®2ic., as to parcel.
At the close the
feeling is very firm, with holders quoting 2^2£c. for ordinary
quality, and 2£@2 7-16c. for bagging descriptions.
The Exports

op

Cotton from New York this week show

a

decrease, as compared with last week, the total reaching 4,763
bales, against 5,737 bales last week. Below wa give our usual
table showiog the exports of cottou from New York, and their
direction, for each of the last four weeks; also the total exports
and direction since Sept. 1, 1873, and in the last column the total
for the same period of the previous year
Exports op Cotton (bales) from Nkw York since Sept. 1, 1878.
Week

25,866,060 159,605,750
64,000
399,000

surplus stocks held by spinners are therefore 311,000 bales,
of 400 lbs., larger than at this time last year. These 311,000 bales
are equal to 282,000 bales of 440 lbs.
Against this excess in
the stocks at the mills and interior depots, there is a deficit of
484,000 bales in the visible supply—making V net deficit of
202,000 bales at the end of April.

;

Conti¬

1879 40,000 6,000 46,000 165,000 212,000
1878 5,000 4,000 9,000 226,000 294,000
1877 13,000 17,000 30,000 294,000 326.000

Exported to—

April
30.

The

consumption

Shipments since Jan. 1.

Great
Total. Britain.

Liverpool
Other British ports
Total to Great Britain

2,759

ending—

May

May

7.

14.

854

5,662

May
21.

Same
Total to period
date. previ’u*
year.

4.763 21« 624 300 R72

4,812
2,759

Havre
Other French ports

715

Total French

715

854

5,662

2,063

4,763 223,436 302,635

75

75

Bremen and Hanover

Hamburg

Other ports

11,935

5,353

100

115

12,035

5,468

13,708
2,202
2,835

18,370
4,986
10,332

but that there was no room for expansion. At the Total to North. Europe
18,745 33,694
time there was nothing in tfie condition of business in Manches¬
ter to warrant the expectation of any immediate increase in the Spain, Op’rto, Gibralt’r, &c
5,610
2,398
requirements of spinners, but as the month advanced the All other
demand for yams and goods gradually improved, and eventually Total
Spain, &c
5,610
2,398
became very active.
This animation in Manchester caused
Grand
total
854
3,474
5,737 4,763 259,826 344,195
spinners to become extensive operators in Liverpool.
The
entire movement gave rise to the belief that we were on the eve
The following are the receipts of cotton at New York, Boston,
of that expansion in consumption which everyone knew could
not take place without running stocks down and putting prices Philadelphia and Baltimore for the past week, and since Septem¬
up.
The deficit in the visible supply which had been regularly ber 1, 1878;
figured out since the commencement of the season, without
New York.
Boston.
Baltimore.
Philadelphia.
attracting much attention, began to be regarded with more inter¬ Receipts
from—
8ince
This 1 Since
This
This
est than it did while the markets were dull and sales slow. Spin¬
Since
This 1 Since
week. Sept. 1. week.
jSept. 1. week. Sept.l. week.! Sept. 1.
ners, alarmed at the prospect of a squeeze, became
eager buyers
at advancing prices. The rise in cotton encouraged active buying N. Orl’ans 4,160 137,455
840
7,337
in Manchester, where considerable stocks of goods were olfered Texas
115,192
11,727
3,040
2,025 137,414
218 22,375
145 45,133
34,121
at prices much below the parity of cotton.
How much of the Savannah
Mobile
1,100
business was for consumption and shipment, and how much for Florida...
14
19,933
288 90,^34
!
100
45
speculation, it is impossible to say; but it is admitted on all S.Carolina
50
19,060
I
159 39,602
2 13,221
sides that a large proportion of the purchases were made in N.Car’lina
298
781 141,688
53,089
438 52,387
Virginia..
anticipation of future wants ; while it is equally certain that no North.p^ts
12
6.520 2,694 120,744
27
material increase took place in the consumption of cotton. Tenn., &c.
525 146,566 1,125 93,820 "843 56,034
27,300
115
7
The fear of scarcity arose more from the anticipation of an Foreign
6,558
rate
of
expansion in the
consumption” than from its actual This year. 8,079 841,762 4,117 322,645 1,061 82,334
635 157,128
sumption

;

....

...

J

..

...

“

...

occurrence.

860 136,883
depend entirely Last year. 10,042|864,157 3,616 315,700 1,093 66,269
the course of business in Manchester, and this will depend
Shipping News.—The exports of cotton from the United
the extent to which the late activity was speculative
or otherwise.
Cotton is still strong, but it is not so strong at States the past week, as per latest mail returns, have reached
7d. as it was at 6d. or 5d. That a very large proportion of the 42,159 bales. So far as the Southern ports are concerned, these
advance which has taken place was justified by the facts of the are the same exports reported by telegraph, and published in
With regard to New York, we
case, is undoubted, and it would not be prudent for spinners to The Chronicle, last Friday.
operate upon the basis of any re-action of moment. The stocks include the manifests of alPyessels cleared up to Wednesday
of the raw material are so small, the prospective imports for night of this week.
i
the remainder of the season so limited, and the margin between
Total bales.
demand and supply so narrow, that the market will be much New York—To Liverpool, per steamers City of Brussels, 800
Bothnia, 98
Helvetia, 837....Hipparchus, 953....Brit¬
more under the control of sellers and speculators than for a
annic, 503 and 107 Sea Island—Nevada, 1,067
per ship
8t. Magnus, 398
long time past. No doubt the advance which has taken place
Bothnia, 98
4,763
New
Orleans—To
will tend to draw supplies to Liverpool which would have gone
Liverpool, per steamers Vanguard, 4,032
F. W. Harris, 3,600
Rubens, 2,241
per ships Ex¬
elsewhere, but such increased supplies will have very little
pounder, 3,716
lie Marthe, 3,927
Baden, 4,191
21,707
influence on the market if a fair business goes on in Manches¬ S avannah—To Liverpool, per ship Caravan, 5,017 Upland
5,017

The future movements of the market will

upon
upon

ter.

We showed last month that upon the most liberal
estimates of supply there was no room for increased consump¬

tion. It follows from this that if consumption is increased now,
it will have to be diminished later on in the season, and it
may
be that even higher prices than those now current wrill be

necessary to keep consumption within the limits of supply.




Norfolk—To Liverpool, per ship William A. Campbell, 5,499
Baltimore—To Havre, per ship Foreningen, 496
To Bremen, per

steamer Hansa, 700

Boston—To Liverpool, per steamers Palestine, 1,720
ian. 1,434
Canopus, 526
Philadelphia—To Liverpool, per steamer Indiana, 297
Total

...

5,499
496
700

Bulgar¬
3,680
297

42,159

The
are as

CHRONICLE

THE

534

Monday.

particulars of these shipments, arranged in our usual form,
follows:

New York
New Orleans
Savannah
Norfolk
Baltimore
Boston

...

•

•

«

•

•

•

»

•

•

•

.

r

700

496

3,680

....

297

Delivery.
May

7*$
7332S*1e
71s®532
7316®732

May-June
June-July
July-Aug
Aug.-Sept.. .7732-i4-93i»
®*4

Sept.-Oct.. .7732-34-»:>2
®

297

....

....

Delivery.

*4

Oct.-Nov.. .62932®1516

42,159

700

496

40,963

give all news received to date of disasters to vessels
from United States ports, etc.:

we

carrying cotton

Charleston, steamer (Berry) from Charleston, went ashore

in the fog at
18th,

Fort Hamilton, New York Harbor, at 4 o’clock, A. M., May
but came off same afternoon at 5 o’clock without damage.

Ganges, steamer (Br.), from New Orleans for Liverpool,

7ig ® 532
May-June
7»32
June-July
73l6
July-Aug
7*4
Aug.-Sept.. ..7932®5i6
Sept.-Oct
7932®5i«

which put into

repair machinery, proceeded May 17th for destination.
LiARTINGTON, (Br). Brig Nautilus (Ger.), sailed from Bermuda May 10
for New York with 566 bales cotton ex-British steamship Lartington, before reported.
Timor, steamer (Br.), Ranton, which arrived at Liverpool May 4 from
Philadelphia, reports: April 24, southerly gale and high sea, caus¬
ing ship to labor very much and ship large quantities of water on
deck; cargo shifted, giving vessel a list of 20 degrees to port, and
sea water entered store room from hatch, damaging a quantity of
provisions. May 2, coals in starboard bunker were found to be oil
lire, but fire was entirely extinguished in an hour.
Barbarossa, (Ger). Two bales of cotton caught fire afternoon of May
21 on the deck of the ship Barbarossa (Ger.), which arrived at
Havre April 8 from New Orleans, moored at the quay in the Eure
Basin; but the fire was extinguished without further damage aris¬
ing than injury to the two bales by fire and water.
China, ship, Barker, from New Orleaus for Reval, which struck near
Lyngbye May 5, was full of water on the 8th. The ship lay badly;
cargo might be saved, wreather permitting.
Lloyd’s agent was at
Lokken acting for Bremen underwriters, who insure 2,301 bales.
Ella S. Thayer, 6hip, Fulton, from Savannah for Reval, stranded near
the latter port on May 14.
She was floated and towed to Reval
,

about the 17th.
Mary E. Riggs. About 2,000 bales of cotton had been saved up to May
4 from the wreck of ship Mary E. Riggs, at French Reef, Florida,

leaving about 3,000 bales to be taken out.
106 bales cotton discharged at Reval ex-Norwegian
ship Protector, from Savannah, caught fire while on the wharf May
6, and were badly damaged.
Union, ship, Greeuleaf, from New Orleans for Liverpool, with cotton,
oil-cake and staves, sprung a leak on May 11, about 100 miles S.
and E. of Cape Hatteras; on the 13th bore up for repairs, and
arrived in Hampton Roads night of 14th, at 8 P. M. She was towed
to Baltimore on the 19th, where she would discharge and repair.
Hera (Ger.) During the few days previous to May 14 a great number of
bales of cotton were taken from the hold of the Norwegian brig
Hera, ashore on Bird Island, near Galveston, and it was expected
that she would be floated in a very few days.
Protector (Nor.)

Liverpool.—By cable from Liverpool,
statement of the week’s

Bales of the week

have the following

we

sales, stocks, &c., at that port
May 9.

May 2.
bales.

74,000
11,000
59,000
4,000
10,000
635,000
514,000
104,000
97,000
4,000
251,000
142,000

Forwarded

Bales American
Of which exporters took ....
Of which speculators took..
Total stock

Of which American
Total import of the week
Of which American
Actual export
Amount afloat
Of which American

:

May 16.

May 23.

83,000
8,000

63,000
9,000

60,000
3,000
14,000
599,000
485,000
41,000
28,000
4,000
282,000
155,000

47,000

53,000
4,000
36,000
6,000
8,000
566,000
455,000
47,000
37,000

4,000
10.000

566,000
450,000
30,000
14,000
5,000
300,000
180,000

4,000

354,000
184,000

The tone of the Liverpool market for spots and futures, each day of
the week ending May 23, and the daily closing prices of spot cotton,
have been as follows :

Saturd’y. Monday. Tuesday. Wedn’sdy Thursd’y

Spot.

Fair

Market
12:30 p

M

dem.

previ¬

Firm.

Strong.

prices.
7*8

718

73ig

73i«

7q
7q

at

Firm.

ous

Mid. Upl’ds
>l’ds
L’ns.
Mid. Orl’ns.

Friday.

Dull and
easier.

.Dull and

7-hs
7*16

7^0
73i6

8,000
1,060

7,000

714
7q

easier.

?

Market
ket,
5 P .M.

\

Sales

Spec. & exp.

8,000
1,000

10,000
1,000

12,000
2,000

10,000
2,000

1,000

)

5 P.
p^m.

$

Cotton

Firm.

Firm.

Strong.

Quiet.

freights the past week have been
Mon.

Satur.

Tues.

as

Flat.

Steady.

follows:

Wednes.

Thurs.

Fri.

Liverpool, steam d. 316® *4
do

sail., d.

Havre, steam
do

sail

sail

.c.

...c.

sail..

Baltic, steam
do

..

.

...

®

c.

Am8t’d’m, steam c.
do

....

c.

Hamburg, steam. c.
do

3i6® *4 316® *4 316®14 316®14 316® *4
316®1364 316® 1364 31(5® 1364 316® 13H4 31G®1364 316® 1364

c.

sail

Bremen, steam,
do

....

Oct.-Nov

Nov.-Dee

July-Aug
Aug.-Sept
May
Sept.-Oct

June-July

sail

Compressed.

c.

.

.

-

®*910

-.

®

!£*

® IfJ

....®

.

-,.®*12 ....®

....

®

^2

....

*2* ....® *2*

----®716 ----®716
.® "9i0 ---®*916
..

....®12

.

...®l2

®

^2*

...®12

.

....®

..

lg*

®71G ---.®716
.®'lr9i0 ...®*916

....®

1$

®
....

...

.®lfl

....

Ifj*

®
® n»*

sail

62i32

Dec.-Jan., n. crop,
sail

61932

Nov-Dec.,
sail

n. crop,

6Hi«

.®7i0
.®*9i0

..

....®

Ifl

....®...

....®... ....®... ....®... -...®... ....®.

.

...,®;..

d.
d.

Wednesday.

Delivery.

May-June

...

711m2®516
®932® *4

June-July ...7ii32®?ig
®932®^1<J
July-Aug
771r®38
Aug.-Sept
71s®7lc
Sept.-Oct.. 712-716-1332

Delivery.
.....7332
Nov.-Dee
6i310
June-July
7932
Oct.-Nov

June-July
July-Aug
Aug.-Sept
May-June

7^4
711,32
738
7732® 14

Delivery.

July-Aug— 7516®n32
Aug.-Sept
7i332
June-July
7932
July-Aug
July-Aug
Aug.-Sept

738

Oct.-Nov

7i32

7D.32
738

Thursday.

Delivery.
May-June
73] 6
June-July .7~3o-316-332
July-Aug
7»32® *4
Aug.-Sept.. 7H3o®5ig
Sept.-Oct
7316
May-June
7*8

Delivery.
June-July
July-Aug
Aug.-Sept
July-Aug
Aug.-Sept

Delivery.
May-June
.7110
Juue-July... 7332®! 16
7532®^
July-Aug
Aug.-Sept.. .7316®532
May-June
7*32®7
June-July
71m®132
®7®J32
July-Aug... 7332-ii6-332

Delivery.

7316
7732
7932
7*4

7&ie

Delivery.
Sept.-Oct -7932~916_1132
7»32
June-July
July-Aug
7732
Aug.-Sept
7932® *4
Sept.-Oct
75i6®932

Friday.

.

Aug.-Sept

718®532

Sept.-Oct
June-July
July-Aug
Aug.Sept
May-June
June-July

718®532
7ii6
718®332

7316®532
63i32
..

7*32®7

Delivery.
Aug.-Sept
7^
July-Aug
7116
Aug.-Sept.
7332®i8
Sept.-Oct
7%
Oct.-Nov
6i3ie
..

Shipment.
Nov.-Dee.,

July-Aug....7ii8®i32

n. crop,

sail

61*

BREADSTUPP8.
Friday, P. M., May 23, 1879.

The demand for flour has been very

good, and yet prices hav«
tendency, especially for common extras, the
supplies of which have materially increased. Yesterday, there
was a liberal business for export, in the range of $3 75@5 25,
including fair to good extras fr&m winter wheat at $4 25(01
$4 40. Rye flour and corn meal have been without essential
ehange.
The wheat market was somewhat depressed early in the
week by the anticipation of free supplies via. the Erie Canal,
but yesterday there was an improved demand, partly specu¬
lative, which caused some recovery in values. No. 2 red winter
sold at $1 18@$1 18^, spot and May; $1 17 for June, and $1 16
for July; No. 1 white, $1 13M@$1 14, spot and for the next
two months; No. 2 spring, $1 05, spot and June, and No. 3
spring, 93@94c. on the spot. Weather reports have been more
favorable to the growing crop. To-day, the market was dull
and weak; No. 2 red winter sold $1 12 for August.
Indian com has been only moderately active; and prices have
been variable and somewhat irregular. Yesterday, there was

had

a

downward

decline at the close ; No. 2 mixed, 45/£@46c. on the

spot;
45^445/^e. for May ; 45c. for June and 45^c. for July; steamer
mixed, 44@44%c. on the spot, 43%c. for May, and 46%c. for
June.
Other grades of com are somewhat nominal; choice
white, being somewhat scarce, is worth 53@55c. for Western
and Southern. To-day, the market slightly declined for mixed
some

was

dull.

Rye, at some decline, has been more active, the sales yester¬
day aggregating 55,000 bush at about 60@61c. for No. 2 West¬
ern and 63^4@63/£c.
for State; and to-day there were large
sales at 60%c. for No. 2 Western, 63%c. for No. 1 State, and
63^c. for Canada. Barley remains quiet. Canada Peas lower,
12,000 bushels selling at 74c. in bond. Oats declined under free
receipts from the Erie Canal, but yesterday there was an active
business and a smart recovery, with large sales of No. 2 mixed
at 34%@35c. on the spot, and 34/£c. for June. To-day, the mar¬
ket was firmer, and No. 2 graded was quoted at 35@35%c. for
mixed and 38c. for white.
The following are closing

ijSiU

quotations:

FLOUR.

grain.

$ bbl. $2 60® 3 25
Superflue State and
No. 2

Western
Extra State, &e
Western spring wheat
extras
do XX and XXX...

ping extras

*

Saturday.

Delivery,
d.
Delivery.
d.
May-June ..7i8-332-i16 Aug.-Sept. .7732-3i6-S32
June-July.. 7°*j2-18-1i6 Sept.-Oct
7^32'2,^ic
JTuly-Aug
7316^*8 June-July
7332

Delivery.

6!316 July-Aug— 75i0®ii32
711,32 Aug.-Sept.... .738®1333
71332 Sept.-Oct.. 738-i332_7lft.
7»32
July.-Aug
7i332
7i316 Aug.-Sept
7i532
-714-932®516 Sept.-Oct
71532

...

The actual sales of futures at Liverpool, for the same week, are
below. These sales are on the basis of Uplands, Low Middling
unless otherwise stated.




CHjg
n. crop,

7'S>71ig

3 40® 3 85

3 80® 3 90
3 70® 3 95
415® 6 25

Western winter ship¬
*

sail

Nov.-Dee,

Delivery.

Delivery.
May
77.32® ^
May-June
7332®q
June-July
-714®932
July-Aug
7516
Aug.-Sept
7»s
Sept.-Oct... 738-1132-38

and

Futures.
UCUfea.

Market,
irket,

7

Oct.-Nov

Norfolk to

c

Shipments.
Oct.-Nov., n. crop,

J une-J uly

Tuesday.

Total

Below

4,763
21,707
5,017
5,499
1,196
3,680

....

21,707
5,017
5,499

Philadelphia

Total.

Bremen.

Havre.

Liverpool.
4,763

[Vol. XXVIII.

Delivery.
d.
Aug.-Sept
7316
Shipment.
Oct.-Jffov.i n.cpjgl.esa

410®

4
6
8
5

40
25
00
15

City shipping extras.

4 50®
5 50®
3 80®

family brands
South’n ship’g extras.
Rye flour, superfine..

5 25® 6 50
* 00
4 25® 5
3 10® 3 40

do XX and XXX...
Minnesota patents...

Southern baaiers’ and

Corn meal—

Western, &c

2 10® 2 30

Brandywine, &c....

2 50® 2 55

Wheat
No.3 spring, $
No. 2 spring

bu. $0 92
1 04
Rejected spring..
81
Red winter, No. 2 118

White
No. 1 -white
Corn—West, mixed

1 10
114
43

Western No. 2...

Yellow Southern.
do
White

Rye—Western
State and Canada
Oats—Mixed
White

Barley—Canada W.
State, 4-rowed...
State, 2-rowed...
Peas—Can’da,b.& f.

®0 94
®1 06
®
83
®1 183a
®1 15

m

@
®
45 ®
46 ®
50 ®
59 ®
®
62
33 ®
37 ®
.®
.®
m

m

m

74

45!g
4514
47
54
61

631s
36
42

m

.®
®

92

May. 24,

THE

1879.]

t...

CHRONICLE.

Receipts of flour and grain at Western lake and river ports
ending May 17:

for the week

At—

Flour,

Wheat,

bbls.

bush.

Milwaukee
Toledo
Detroit
Cleveland
St. Louis....
Peoria
Duluth

5,576
3,789
22,192

81,563
165,676
26,700
125,395

2,855

8,900

669

.

Oats,

Barley,

busli.

bush.

bush.

758,948 374,377
23,390 44,850

420,375

44,293

,

Corn,

94,252 12,238
2,859
4,934
109,200.95,500
333,000 54,528

217,740 115,200

at

15,386

1,314

1,059
450
9,056

16,250

1877.

1876.

1,625,481

1,926,783

23,171,922
29,992,322
8,425,936

6,556,038
26,209,707
5,978,490

13,001,688
23,086,925
7,186,617

2,086,776
1,711,832

2,507,345
1,528,118

2,028,983
783,140

2,451,594
488,147

62,366,462

65,625,643

41,556,358

46,284,971

1878.

1879
bbls.

2,445,069

Wheat

bush.

21,024,515
29,147,605
8,989.734

Barley
Rye

grain....

26,705

4,425

ports from Jan. 1 to May 17, inclusive,

same

Flour

Coru
Oats

23,451

57,888 68,906
76,235 120,656
84,525 38,338

......

Total receipts
for four years:

bush.

2,250
17,448
9,000

Total
119,515 1,142,573 1,539,389 701,627
Same week ’78... 112,718 1,491,200 2,391,789 816,339
do
’77... 80,375
323,676 1,581,275 478,835
..

Rye,

(56 lbs.) (32 lbs.) (4« lbs.) (56 lbs.)

(196 lbs.) (60 lbs.)
40,143
313,964

Chicago

2,274,859 *

Total
to

receipts (crop movement) at the same ports from Aug. 1
May 17, inclusive, for four years:
1876-7.

1875-6.

bbls.

5,189,61G

5,047,253

4,279,173

4,232,687

bush.

77,113,281
69,218,000
24,949,746

66,657.213
65,081,938
20,837,493

35,949,023
46,959,608
17,024,280

52,844,384
43,585,597
21,839,249

9,128,522

4,074,175

8,986,205
3,504,935

8,094,633
2,640,684

7,228,192
1,707,790

184,483,724

165,067,784

128,668,228

127,205,219

1877-8.

1878-9.
Flour

Wheat
Corn
Oats...

Barley
Rye
Total grain

....

Comparative shipments of flour and grain from the same
ports from Jan. 1 to May 17, inclusive, for four years:
1876.

1879.

1878.

Flour

bbls.

2,570,111

2,248,990

1,622,764

2,090,426

Wheat

bush.

16,641.326
23,317,392
6,710,695

20,663,008
24,409,482
4,546,824

5,716,570
18,513,712
4,623,268

12,408,891
20,230,361
5,495,304

1,808,025
962,920

1,423,910
1,189,779

1,532,154
521,007

1,108,137
415,908

49,440,358

52,233,003

30,906,711

39,658,601

Corn...:
Oats

Barley
Rye
Total

grain

....

Rail and lake

1877.

shipments from same ports for the last four

weeks:
Flour,

Wheat,

Corn,

bbls.

bush.

bush.

122,836
144,822
121,238
119,623

2,127,719

Week
ending—

17
May 10
May

May

535

-

3

April 26

Oats,

Barley,

bush.

bush.

Rye,

bush.

650,239 66,402 132,634
536,103 70*004128,236
387,448 60,467 85,384
303,955 114,639 43,946

3,249,753
1,970,554
1,565,368 2,459,693
860,394 1,695,031

1,470,411

6,023,892 9,375,031 1,877,745 311,512 390,200
5,282,876 9,088,845 1,712,853 156,380 322,619

Total, 4 w’ks. 508,519
Tor.4 wks ’78 452,688

Receipts of flour and grain at seaboard ports for the week
17:

ended May
At—

Ne w York

Wheat,

Corn,

Oats,

Barley,

Rye,

bbls.

bush.

bush.

bush.

bush.

bush.

..

Portland

488,972 268,587
366,100 36,633
1,500
2,200
124,753 12,629
654,500 82,300
457,300 46,500
217,197 33,564

617,583
25,700

94,591
35,299

..

Boston

Flour,

1,900

Montreal

16,782

..

Philadelphia....
Baltimore
New Orleans...

159,883
370,000

15,860

..

..

..

Total week
Previous week...
Cor. week '78....
Cor. week’77....

425,450

17,134
8,759

190,305 1,598,616
170,581 1,645,722
174,998 2,031,960
143,801
183,625

And from Jan. 1 to

2,311,022 481,713
2,403,020 310,232
3,592,349 530,696
1,688,467 642,426

2,750
9,125

87,157

1,000

56,000
1,500
244

12,875 144,901
25,800 65,797
55,747 145,593
31,375 29,132

May 17, inclusive, for four years:
1876.

1878.

1877.

Flour

bbls.

3,794,463

3,241,575

2,583,914

3,345,092

Wheat
Corn
Oats

bush.

29,900,018
40,370,743
7,022,468

26,071,085
40,359,688
5,939,393

2,245,988
30,188,776
5,805,705

10,093,139
28,193,291
6,608,270

Barley
Rye

1,380,267

2,147,517

1,636,139

1,101,876

1,250,186

451,633

1,846,608
227,290

Total

79,923,682

76,153,822

39,793,978

46,988,598

1879.

Toledo
Detroit

Wheat,

Corn,

Oat*,

bush.

Barley,

Rye,

bnsh.

bu*h.

bush.

bush.

38,947
6,271

24,500
1,570
150,000

1,885
10,000

63,855

10,850

31,143

78,063

2,573
25,240
76,449

287,867

140,789
110,000
136,315
13,039
175,624

Oswego (est.)
8t. Louis
Boston
Toronto
Montreal...

108.652
669,593

i

Philadelphia
Peoria

6.769

Indianapolis
Kansas City
Baltimore
Rail shipments...
Lake shipments..
On Canal

Total

May
May
April
May
May

6,650
137,618
483,467
554,622

1,573,097
1,011,000

239,314
1,906
125,000

1,006,562
128,991
1,075
91,639
340,000

'

14,305

15,835

80,178
32,980

34,433
6,660

197,560
819,451
794,358
2,455,395
1,098,000

852

978

47,520
4,100
2,384

511,190
139,049

65,897

56,434

505

73,000

36,000

76,200
179,000

.15,331,650 11,322,544 1,549,756
982,246
15,108,416 10,626,900 1,759,133 1,176,664
15.965,290 11,844,496 2,033,612 1,365,212
16,972,424 12,246,085 1,865,490 1,646,400

10, ’79
3, ’79
26, ’79
18,’78
19,’77

18,080
10,000

7,549,665 8,225,712 2,157,648 1,309,559
5,123,337 10,409,483 2,192,778
899,806

831,379

877,174
952,300
972,603
573,489

746,981

THE DRY GOODS T R. ADE.
Friday, P. M., May 23,1879.

There

was a

continued active demand the past week for wool

flannels, Kentucky jeans, and other makes of woolen goods
adapted to the fall trade, and transactions were much more
liberal in the aggregate than has usually been the case at this
stage of the season. There was also a steady movement in
cotton goods on account of former orders, and such light fabrics

printed lawns, organdies, corded jaconets, &c., were some¬
freely distributed; but prints and ginghams remained
The tone of the market for both cotton and woolen
very quiet.
goods was exceedingly strong, and many makes of brown
bleached, and colored cottons, wool flannels, blankets, jeans,
beavers, hosiery and underwear, &c., were materially advanced
by agents. The jobbing trade exhibited a slight improvement
but transactions were only moderate in the aggregate amount.
Domestic Cotton Goods —The exports of domestics from this
port to foreign markets during the week ending May 20 were
3,319 packages, the more important lots of which were shipped
as follows:
China, 2,241; Great Britain, 547 ; Hayti, 165;
Argentine Republic, 67; Mexico, 81; Venezuela, 61; Trieste, 35;
British West Indies, 34, &c. There was only a moderate inquiry
for cotton goods for immediate distribution, but some liberal
orders were placed for future delivery, and large deliveries of
brown, bleached and colored cottons were made by agents on
account of back orders. Prices ruled very firm along the whole
line of staple goods, and many makes of brown and bleached
goods, &c., were still further advanced by agents. Among the
more prominent makes of goods thus advanced were New York
Mills, Lonsdale, Blackstone, Hope, Androscoggin L, and other
as

what

popular brands of bleached cottons ; Pepperell, Laconia, Boott,
&c.; brown sheetings, Amoskeag and Thorndike ticks, &c., &c.
Print cloths were sluggish but firm, at 4 l-16@4%c. cash for 64 x
64 spots and 3%c. cash for 56x60 spots.
Prints and ginghams
ruled very quiet, but
with liberal sales.

lawns, corded jaconets and organdies met

past week has developed a
satisfactory degree of activity in nearly all makes of clothing
woolens, and there was a continued brisk inquiry for plain and
twilled flannels, blankets, Kentucky jeans, and (in a lesser
degree) repellents. The upward course of the staple has,
seemingly, imparted more confidence to buyers of woolen
goods than for a long time past, and all such fabrics as could
be secured at or about old prices were eagerly sought for.
For fancy cassimeres, cheviots and worsted coatings there was
a good active demand, and in a few cases prices were slightly
Domestic Woolen Goods.—The

advanced.

Rough-faced and plaid-back overcoatings continued

Exports from United States seaboard ports and from Montreal, in steady request, and there was a moderate inquiry for
for week ending May 17:
all-wool and cotton-warp beavers, a few makes of which were
Flour,
Wheat,
Com,
Oats,
Rye,
Peas,
Flannels were the most active
From—
buRh.
bush.
bush. marked up about 5 per cent.
bbls.
bush.
bush.
585,391 49,311
158,120

87,320
11,826

1,087,213
54,233

6,459
1,170
3,484

195,170
528,651
450,007

48,695
555,305
392,661

Total for w’k 110,259

2.315,274
1,399,288
1,406,235
1,918,051

1,740,172
1,865,567

New York
Boston

Portland
Montreal

Philadelphia..
Baltimore

Previous week. 93,983
Two weeks ago 106,052

Same time’78.

69,583

2,441,729

300

85,152

2,347

......

127,908

4,845
54,456 85,152 130,255
43,668 190,362 48,361
8,200
40,894
1,210

2,504,543 114,341 243,871

44,482

supply of grain, comprising the stocks in granary
principal points of accumulation at lake and seaboard
ports, and in transit by rail, May 17, was as follows:
The visible

at the

New York

Buffalo

bush.

593,937
29,000

266,996
59,000

152,786

432,019

3,358

249,207
16,000

5,274,135 2,718,842
2,130,241
18,972
373,303
117,335

212,413
25,529

182,355

55,799
69,912

178,278

Chicago
Milwaukee

Duluth




,

Rye,

Oats,
bush.

bush.

1,959,792
800

Albany

Barley,

Corn,
bush.

Wheat,
In Store at—

.

18,000
22,636
211,907

bush.

3,715

goods in the market, and stocks of leading makes are now
almost nominal in first hands. Blankets also met with liberal
sales, and some makes were advanced fully 10 per cent, without
materially checking their distribution. Worsted dress goods
were sluggish, aside from plain and lace buntings, for which
there was a well-sustained demand.
Foreign Dry Goods.—There was a very light demand for
imported goods at first hands, but prices of the most staple
fabrics were fairly maintained. Silks were more firmly held,
owing to advices from Europe indicating an early advance m.
raw silk because of the partial failure of the crop.
Buntings
were in steady request, but the popularity now accorded by
consumers to fabrics of this class has seriously affected the sale
of grenadines. Lupin’s fabrics were offered at auction, and
brought fair average prices; but the demand was not very brisk*

THE CHRONICLE.

536

Receipts of Leading Articles of Domestic Produce.

Importations of Dry Goods.

week ending
of 1878 an<

importations of dry goods at this port for the
May 22, 1879, and for the corresponding weeks
1877, have been as follows:
The

ENTERED FOR CONSUMPTION FOR

22, 1879.

THE WEEK ENDING MAY

—.

......

Value.

Pkgs.

Value.

Pkgs.

Flax
Miscellaneous

Total

1 228

640.829 21,449

809,039

95,390
142,572
213,824

99,8*4
66,410

50S
379
879
157

631,613

2,209

206,07*

1,821

149
187

151,493 18,774

37^550

57

38,938

267

49,431

1,011

18,979

2,402

29,737

1,863

249.£&

2,340

219,171

610,82S 21,449

809,039

252
122

98,473

s

j^53,412

*

35,675

Total
Ent’d for consumpt.

1.647

1,821

223,629
631,643

3,100
2,209

market...

3,468

855,272

5,309

—

Total

on

THE MARKET DUR¬

159
112
55
151

60,383
>7.835

60
240

265
734
448

91,477
197,394
253,089
189,795
77,284

286

108,359
150,976

305
491
309
539
177

WITHDRAWN FROM WAREHOUSE AND THROWN INTO
ING THHfaftAME PERIOD.

Manufactures of—
Wool
Cotton
Silk
Flax
Miscellaneous

31,305

65

25,482
28,005
22,482
5,343

36
114
11

Miscellaneous

Ent’d for consumpt.

1,821

112,617
631,643

Total at the port...

2,126

744,260

305

Total

34,262

SAME PHttOD.
8

79

66,475
31,696
55,963
30,775

890,083 23,789 1,028,210

ENTERED FOR WAREHOUSE DURING

Manufactures of—
Wool
Cotton
Silk
Flax

Value.

Pkgs.

204
141
59
273
142

•

130
104
57
208
829

72,160
25,135
51,410
45,875
11,540

49,528
39,239
54,100
30,988
36,460
210,315
809,039

2,209

206,120 1,328
640,829 21,449

3,028

846,949 22,777 1,019,354

819

New York Produce

corresponding period in 1878:
May 20.

following table, compiled from Custom House returns,
foreign imports of leading articles at this port since
January 1, 1879, and for the same period in 1878:
The

1

Flour, wheat

bbls

Cora meal

China

Earthenw

.

Glass
Glassware.
Glass plate.
Buttons
...

Coal, tons...
Cocoa, bags.
Coffee, bags.
Cotton,bales
Drugs, <fcc—
Bark, Peru.
Blea. powd.
Cochineal..
Gambier
.

.

Gum, Arab.
Indigo
Madder, &c
Oil, Olive..

Opium
Soda, bi-cb.
Soda, sal...
Soda, ash..

4,488
14,774
88,619
11,209
2,009
4,461
12,217
12,184
899,670
5,508

341

406

l,572j
2,24ll

500

356

1,701
86,849

1,717

Gunny cloth
Hair

Hemp, bales
Hides, &c.—
Bristles

..

Hides,dr’sd
India rubber

Ivory
Jewelry ,<fceJcwelry
..

Watches
Linseed
Molasses

.

619

.

1,008*

1,008

216!

.

....

Hides, undr.

373,907
1,112,405
303,847
330,079

Cassia

Ginger....
Pepper....
Saltpetre
...

Fustic

1,723!
2471

1.927
190

573,340
16,849
298,983

56,153
169,323
63,195
265,343
149,028

100,038
25,526
191,210
78,495

Logwood
Mahogany.
..

211,308
67,535
323,821
82,948

192,128
15,581
337,848
34,150

Exports of Provisions.

following are the exports of provisions from New York,
Boston, Baltimore, Philadelphia, Montreal, Portland, and New
Tork,
bbls.

Lard,

Beef,
bbls.

lbs.

.

91,677
83,535
63,255
25,654

73,319
21,805

1,603,211

186

75,245

bbls.

72,349
18,128,316
1,291,991
10,258,611
3,118.862
2,036,933
388,028
417,307

115,911
75,386

53,594
42,856
1,667,110

423,151
4,941

105,368

35

634

1,736

Turpentine, spirits... bbls

2,212

Rosm

bbls

6,657

Tar

bbls
bbls

77
25

22,889
123,971
11,078

194,884
6,321

bbls.

Turpentine, crude

Pitch
Oil cake

pkge.

8,360

Oil, lard
Oil, whale

bbls.
galls.

10

22,310
103,163
11,496
1,081
202,581
8,580

bush.

2,281

53,776

33,401

Pork

pkgs.

1,967

Heef
Cutmeats

pkge.

424

124,489
19,171

pkgs
pkgs.
pkgs

20,512

143,817
28,552
571,324
345,907
358,393
250,271
395,417

Butter

tes. & bbls.

877

Spelter.

kegs.
No.
pkgs.
slabs.

Stearine

.pkgs.

1,135

bbls.

9
459

Rice

Sugar
Sugar
Tallow
Tobacco
Tobacco

...

1,233

2,304
6,424
1,857
4,562
5,316

pkgs.

Wool

45,250
14,434
1,015
27,310
49,459
56,145
20,335
137,301
21,714

720

lihds.
boxes &

364,858
220,851
350,743
22,573
49,869
18,296

25,137
14,213
35,952

bbls.

;

775,803
426,282

24,158

cases.

hlids.

bbls.

bales.

756

Bacon,

Cheese,

Tallow,

lbs.

lbs.

lbs.

16,664

19,807

11,758
10,471
474

10,144
34,399
55,564

34,258
76,703
17,320

Exports ol Leading Articles of Domestic Produce.
The following table, based upon Custom House returns, shows

exports from New York of all leading articles of domestic
produce for the week ending with Tuesday last; also the exports
from the 1st of January, 1879, to the same day, and for the
corresponding period in 1878:
the

Week

ending

May 20.
Ashes, pearls
Beeswax
Breadstuff's—

bbls

.lbs

Corn meal
Wheat

bbls
bush.

Barley

bush.

Since Jan. 1,
1879.

706
147

16,508

87,834

51,543

1,162,082

986,912

147

3,143
67,234

1,941
83,051
17,515,467
1,692,125

......

3,654
856,386
84,248
50,452
12,500
3,439
587,012.

Peas
Cora

bush.
bush

Candles
Coal
Cotton

pkgs.

1,846

tons.
bales.

2,136
5,005

Hay
Hops

bales.
bales.

Naval Stores—
Crude turpentine

Spirits turpentine
Rosin
Tar

Pitch
Oil cake

bbls.
bbls.

bbls
bbls.
bbls
cwt.

Same time
last year.

916
64

150
16

16,106,722
1,289,385

[270,212
98,790

1,212
28

499,818
1,393,818

155,284
11,030,165
26,059
36,117

233,798
8,52 8,337
18,323

107,880
55,858

24,951

"06,816
37,355
26,743

11,578

33,614

3,232

The

To—

161,233
377,054
11,408
3,261

1,065
2,948
2,947

pi
bhi

Lead
Molasses
Molasses
Naval Stores—

147,428
398,973
1,080,801
320,568
246,690
4,787,226
57,697

4,282,790

115,510 Woods—
24,234 Cork

224,737
26,935

Hardware

.

...

Nuts

595

248

....

..

Oranges

19,058' Spices, &c.—

426

.

Metals, <fcc—
Cutlery

Lemons

1,606,027

798

Fruits, etc.—

1.832' Rice

1,850
20,833

$

531,412
25,964
316,055
146,586

Fish

88,354

510

29,738
49,781
12,011

$

value.

Raisins

.

236

16,945

11,501 Cigars
22,208 i Corks
26,980: Fancy goods

24.849

276

30,804
55,203

1,201 Wool, bales.
16,331 Reported it/

7,215
24,474

24.617

853,328
470,704
25,456
*

Wines

3,582

2,565
1,366
15,369

1,131
2,989

Flax
Furs

..

1,978,102
70,162
14,760,710
596 ,225
10,861,044
3,379,501
1,476,691

bales.

Hides.

Whiskey

11,070; Waste
889; Wines, <to.—
5,976 Champ’gne
baskets..
1,357

2,183

189,756

773,441

93,905
5,568
777,413
108,589
610,900
337,542
41,623
13,717
9,376

No.

Hides

Lard

3,835
510,659
17,171
376,582
5,258,329
55,633

258,633

1,821

32,583

bags.

Grass seed.

Eggs

1878.

372,336

! Tea
3 0,200! Tobacco..

17,548
6,738
1,545
28,471

....

3,943
838,695
28,570
476,029
5,251,608
47,511

.

2,768

31,509

229
38

Hogs, dressed

Metals, Ac4,615 Lead, pigs
14,884 Spelter, lbs
85,852 Steel
8,038 Tin, boxes.
2,388 Tin slbs.,lbs
3,800 Paper Stock.
25,045 Sugar, hhds,
8,233 tcs., <fc bbls.
577,182 Sugar, boxes
and bags...
1,611

108

Breadstuff's—

Lard

China, &c.—

Same time
last year.

1,386

'

Cheese

[Tlic quantity is given in packages when not otherwise specified.]
1879.

Since Jan. 1,
1879.

Provisions—

f

shows the

1878.

Week ending

Peanuts

Imports of Leading Articles.

1879.

following table, based upon daily reports made to the
Exchange, shows the receipts of leading
articles of domestic produce in New York for the week ending
with Tuesday last (corresponding with the week for exports);
also the receipts from January 1, 1879, to that day, and for the
The

$

$

Manufactures of—
Wool
Cotton
Silk

1879.

1878.

1877.

[Vou XXVIII.

r

n24,899

100

135

5,430

2,437

3,564
77,984

418

3,161

228

2,403
720,091

93

49,520

93,701
2,852
3,103 '
1,050,807

Oils—

Liverpool

....

560
227

London

Glasgow
Bristol
Br. Ports

647

....

Antwerp

Hamburg....
Bremen

Rotterdam

..

15
300
21
30

..

Total week

..

Previous w’k




2.704,715 1,754,440
103,550
103,860
632,775
222,000
198420
468,075
16,620
1,353,625
151,973
397,873

1,504,900
143,200
1

418,500
856,100

840,200
131,500
2,000

724^620
540,556
232,815
640,320
1,011,920

2,476
1,394

11
170
128
60
50
20
619
250

37

8

331,583
775,469
26,690
30,529

5,889

3,135

7,662,802

5,772

2,650

8,419,436 10,175,101 1,528,054 2,376,652

10
50
122

27|900

79,625
190,000
22,052
274,570

'4251600

11,612

2,421
,

P
-

82,500
85,330

544.529

364

958,100
93,042

15,276

100

1,883
1,812

Whale

Sperm

75

Havre

Marseilles....
Cont’l ports..
S.&C.America
AVest Indies
Br. N. A. Col.
OthTcountr’s

778
157
234
525
50

1,913

6,955,297 2,314,375 o,194,685

Lard
Linseed
Petroleum
Provisions—
Pork
Beef
.'

Beef.
Cutmeats
Butter
Cheese
Lard
Rice
Tallow.

gals
gals.
gals.
gals.

13,069

gals.

5,382,871

bbls.
bbls.
tierces.
lbs.
lbs.
lbs.
lbs.
bbls.
lbs.

3,946
1,055

Tobacco, leaf
hhds.
Tobacco
bales and cases.
Tobacco, manufactured, lbs.
Whalebone
lbs.

52

410

6,590,720
538,740
1,716,155
5,285,247
684

2,149,074
572
431

86,982

75,482
35,906
407,920
3,903
68,228,753
102,128
19,946
24,718
273,889,717
11,278,276
34,203,224
117,037,936
7,146
30,445,844
19,584
10,220
2,743,553

21,278

143,185
238,681

505,159
3,494

56,258,315
109,119
19,723
30,964
285,934,708

4,503,731
23,452,653
139,198,183
9,034
29,654,706
22,290
22,233
2,628,713
68,548