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HUNT’S
MERCHANTS’
BEPRESEMI'INQ THE INDUSTRIAL AND
VOL. 46.
MAGAZINE,
COMMERCIAL INTERESTS OF THE
SATURDAY, MAY 26, 1888.
NO.
CONTENTS.
Week Ending May 19.
THE CHRONICLE.
Clearing House Returns
661
The Financial Situation
The
Sub-Treasury and
662
the
664
Money Market
The Re-organization
of the
Philadelphia & Reading
665
THE
State and Railroad
and Stocks
Bonds
670
Range in Prices at the New
York Stock Exchange
671
1888.
Imports and Exports for April 667
Commercial
Monetary aud
English News
667
Commercial and Miscellaneous
News
668
BANKERS
Money Market, Foreign Ex¬
change, U. States Securities,
r.
..
Commercial Times
672
679
£1 8s.
120 pages
charge to
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file cover is furnished at 50 cents; postage on the sam* is 18
oenta. Volumes bound for subscribers at $1 00.
or
A
London Agents:
Smith, 1 Drapers’ Gardens, E. C., who will take
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.
WILLIAM B. DANA & Co., Publishers,
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Post Office box 958.
CLEARING HOUSE RETURNS.
speculation at the Stock
Exchange during the week under review marks a 'pretty
heavy diminution in the total of clearings at New York. At
Boston and Pailadelphia, also, speculative dealings in railroad
properties were on a more restricted scale than in the previous
week, but,
as is well known, transactions of this characte
important relation to bank exchanges at either city
the gain at Philadelphia of nearly eight millions of dollars
emphasizes this point. The loss from last week at New York
reaches $51,175,165, but in the aggregate for other cities there
is an increase of $4,928,421.
Altogether sixteen clearing
houses report figures in excess of May 12.
Instituting comparison with the corresponding week of
1887, we find that the loss in the whole country is 15*9 per
cent, against only 1*9 per cent last week. The most import¬
ant percentages of decline have been
Galveston, 42*5 per cent,
Duluth 32, New York 21, Boston 20*8 and St. Paul 17'9
per
cent.
On the other hand, Norfolk heads the cities
exhibiting
clearings in excess of a year ago with 24*9 per cent, and is
followed by Grand Rapids 19*4, New Orleans 19,
Springfield
18f3 and Portland 15*8 per cent.
Operations on the New York Stock Exchange for the
week reached 1,057,179 shares,
embracing a market value of
$52,962,000, which contrasts with 1,991,080 shares and $120,684,000 for the similar period a year ago. Pursuing our usual
method of deducting two-and-a-half times these values from
the New York totals, leaves as the
exchanges arising through
other business $446,436,204 and
$431,180,929 respectively in
the two years, or a gain of 8*5 per cent.
bear
no
630,010,009
-35
(1,734.284)
(283,300)
(22.028,000)
(00,175,700)
(12,010,000)
(+0-3)
(-29-7)
(+18*4)
84,870,000
107,231,010
4,904,100
4,914,300
1,585,828
1,221,443
820,376
940.090
1,521,013
1,237,139
950,039
1,011,009
1,175,103
049,314
Total New England...
Chicago
Cincinnati
Milwaukee
Detroit
Indianapolis
+5*9
+4-3
—1-4
+8-3
-7-9
+169
067,980
98,324,977
118,330,412
-13-0
100,109,240
-35
04,031,337
10,177,2*8
12,450,083
64,182,722
10,902.340
13,034,055
-0-2
—7-2
-8-0
50,241,805
10,881,958
11,574,483
+3-9
+18-7
80,604,048
88,779,717
—24
78,003,246
+4-5
62.685,093
10, *57,150
3.654,105
3,886,742
1,971,979
58,006,439
+7-0
+9-8
11,802.250
-135
—1-4
—5-3
-4-4-4
02,769,091
10,405,400
3,840,781
3,088,230
3,705,237
4,103,682
1,887,974
3,070,448
2,238,740
+0-8
—9 7
1 177 198
1,044,397
3,102,051
1,820,495
1 27? 142
+9-4
-3-5
—13-8
-0-7
—40
—14-9
—1*5
—10-9
+25*1
+10-5
—4-1
—4-0
—17-9
3,280,221
-32 0
106,205,037
105,757,220
+05
105,695,428
10,163,101
1,571.350
7,228,000
5.710,423
9,005,047
1,922,420
459,715
17,042,828
-8-4
1,562,792
0,007,538
8.782,000
1,070,270
+0-5
+19-0
+2-3
+101
+14-7
800,343
-425
17.959,706
1,455,102
7,503,000
5.698,521
8,805,928
2.243,520
005,290
673,842
539,780
+24-9
890,375
+16-7
+11-0
+7-3
+333
+5-7
+542
43,389,564
42,052,305
+1-7
45,347,514
+7-0
17,588,074
10,489,474
+07
15,452,045
-5-8
929,072,704 1,104,900,123
-15-9
975,819,418
-1-9
-5-8
345,303,079^
+1-8
St. Paul
Grand Rapids
Wichita
Duluth
788,487
2,233,372
339,753
Topeka*
St. Louis
St. Joseph
New Orleans
Louisville
Kansas City
Memphis..
Galveston
Norfolk
Total Southern
*
—P5
3,031,909
2,728,708
4,029,703
541,988
732,475
Denver
Outside New York
993,379
+15-8
+0-9
+18-3
1,624,850
1,243,411
1,031,009
051,200
1,103,550
081,473
(-30-9)
+0*7
Minneapolis
Total all
88,749,781
4,603,900
3i554!034
Omaha
San Francisco
-20-8
-0-2
-0-9
+1-3
—2-8
3,090,229
2,022,060
1 233,720
3,900,333
3,483,015
2,002,402
3,802,393
047,231
:.
Total Western
P. Cent,
$
-210
—
Cleveland
Columbus
1888.
(-46-9)
(-52*7)
(+95*7;
(-19*4)
Total Middle
11 28
*
(1,991,080)
(333,400)
(80,437,000)
Baltimore
JB2 7s.
P. Cent.
End’g May 12.
732,890,929
Pittsburg
:
Week
(1,057,179)
(157,000)
(59,559,300)
(18,228,000)
Philadelphia
Subscriptions will be continued until definitely ordered stopped. The
publishers cannot be responsible for remittances unless made by drafts
A further decline in the volume of
bbls.)
New Haven
Portland
Worcester
Lowell.-
6 10
subscribers of the Chronicle.
bushels.)
1,196.
578,.841,204
Boston
Providence
Hartford
Soringiield
$10 20
European Subscription (including postage)
Annual subscription in London (including postage)
do
do
Six Mos.
do
These prioes inolude the Investors’ Supplement, of
Issued once in two months, and furnished without extra
WILLIAM B. DANA
(Cotton
682
Subscription—Payable in Advance
For One Year (including postage)
For Six Months
do.
shares.)
bales.)
673
674
675
^he (Lhxsmult.
JOHN G. FLOYD
New York
Sales of—
lStocks
GAZETTE.
Prices of Active Bonds at N. Y.
Stock Exchange, and Range
since January 1, 1888
Prices of Inactive Bonds
Local Securities
Investment and Railroad News
1887.
$
(Grain
(Petroleum
Reports and Documents
Terms of
UNITED STATES
350,231,500
+19-4
+7-6
5.580.143
372.009,194
3,’822^758
3,830,798
2,721,114
3,709,590
590,315
835,895
1,445,359
341,083
+05
+94
—13-7
+21-8
+20-5
-49 5
+2-2
+0-1
—13-3
Not included in totals.
Our usual
telegraphic returns of exchanges for the five days
are given below.
In comparison with
similar period of last year the aggreg ite for the seven
have been received and
the
cities records
week
en
led
a
loss of 4-9 per cenc.
May 26, based
on
Thi estimate for the full
these telegraphic figures, points
a decrease from tue wejk of 1887 of a >out 3 8
per cent
Messrs. R. G. Dun & Co. rep )rt the number of failures for the
week ended to-night (May 25) as 225 (213 in the United State s
to
and 12 in
time
a
Returns
Canada), against 189 last week and 175 for ths
of Stock (shares)....
Boston
Philadelphia
Baltimore.,
Chicago
St. Louis
New Orleans
Total, 5 days
Estimated 1 day
.....
Total full week...
Balance Country*
Total week, all
*
Week Ending May 20.
by Telegraph.
New York..
Sales
same
year ago.
For the full wae
..
1888.
1887.
$
4
404,827,955
(904,004)
07,567,372
40,119,150
9,180,247
52,338,000
12,853,13
5,590,910
502,059,427
(1,151,720)
71,105,200
48,105,839
10,128,456
45,899,000
14,725,347
4,700,704
602,482,770
140,308,298
802,851,068
Week End’g May 19
P Cent.
1888,
—9*3
*
480,892,632
(787,836)
72,872,230
64,200,00s
10,620,723
-7-4
(--2P5)
-5 1
+4-1
P. Cent.
-90-9
(-55-0)
-20*3
+1*1
—110
+140
51,988,000
-12-7
14,027,628
-4-0
+18-9
5,995,258
+13*6
090,343,973
144,980,447
-4-9
090,002,545
135,822,187
-17-2
841,830,420
95,822,028
-4-0
+3-0
820,424,732
102,088,489
-17-4
99,234,130
902,135,204
937,662,448
-3-8
929,113,221
-15-9
based
on
-3-2
last week’® returns.
+0-2
-18*3
-1-9
THE
6B2
[VOL. XLV1,
CHRONICLE.
short, but at no time during
4*87^ for long and 4-90 for
THE
FINANCIAL
SITUATION
Notwithstanding the heavy shipments of gold to Europe
this week and the light purchases of bonds, money on call
For bank¬
has ruled at even lower rates than heretofore.
ers* balances the extremes
have been 2 and 1 per
business high enough
to afford any profit for the export of gold.
They were
on a parity for sterling, and shippers sending gold to Lon¬
don did so because there was absolutely no risk in forward¬
ing the metal, and moreover it' would be immediately
available. The week’s shipments amounted to $2,790,000
on Tuesday, $250,000 on Wednesday, and engagements
for to-day of $2,011,194, making $5,051,194.
That por¬
tion shipped to and engaged for Germany is in response to
a special order, and the movement is not at all governed by
the rates; that is to say, there is a small loss on the opera¬
the rates for actual
the week were
cent with
comparatively little doing at either figure, the average
being about 1£ per cent, while banks and trust com¬
panies have been loaning at 2 and 3 per cent, but oftener
The reason assigned
for this easier condition is that lenders are unwilling
tinder the circumstances to put their money out on time at
tion, but the presumption is that the loss is less than if
the prices ruling, and are therefore turning it into the call
obtained elsewhere and the gold is wanted.
WhaJL would
loan channels, under the belief that if gold exports con¬
be the situation of our exchange market had we been send¬
tinue and bond purchases are limited they will later on
no securities is clearly inferable from the following
be able
to secure
better rates.
Tne time rates ing
statement of the trade movement issued this \freek by Mr.
quoted on prime security are 3@3i] per cent for sixty Switzler of the Bureau of Statistics. We have prepared
and ninety days to four months and 4@4^' per cent for
the statement in our usual form.
than at the latter rate.
at the former
the end of the year ; on good
collateral the rates are about £ of 1 per cent higher.
from five months to
mixed
Com¬
is scarce for good names and the demand is
increasing and consequently rates are lower.
We quote
€0 to 90 day endorsed bills receivable, 4@4-J per cent;
FOREIGN’ TRADE
4£@5£ percent, and good single
having from four to six months to run, 5^@6-£ per
names,
cent.
Year.
Excess
Exports. Imports. of
Ex¬
ports.
188S.
f
t
$
Mar...
50,786
4.538
58.513
66.856 *10.171
63,041 *12,255
April..
48.920
60,813 *11,884
Jan....
Feb
...
63.051
56.685
STATES-(OOOs Omitted.)
Silver.
Gold.
Merchandise.
mercial paper
four months’ acceptances,
MOVEMENT OF THE UNITED
Im¬
Ex¬
ports.
ports.
1
S
Excess
of
Imports.
t
+229
305
624
1,014
2.271
1,667
+653
436
1,785
958
+210
748.
Ex¬
ports.
*
Im¬
Excess
of Ex¬
ports.
ports.
■
$
$
2,238
1,190
1,042
2,118
3.933
1,300
1,170
1,050
2,903
791
575
4,207
5,408
948
4,428 3.735
purchases by the Secretary have, as stated above, Total 219,4511249,223 *29.772
3,406
+ 1,659
8.507 5,101
4,587 6,246
1,614
1887.' 239.106,237.582
been small, mainly because the offerings at the apparent 1886. hi 17.603;221.600 *3.903 3,883 22,960 + 19,086 9,077 5,058 4,010
1,429 10,993 5.?72 5,121
6,502
5,073
1885 238,8411186,025 52.316
limits of the Government were also small.
It was discov¬ 1884.
4.249
4,501
8,810
*■31,970
36.837
4.801
16,893
241.340'224.447
4.427
4,101
8.588
4,043
3,114
7,157
ered on Monday that tbe department had been deceived by 1883.' 285.791'231.059 54,732
Excess of imports.
t Excg3s of exports.
a bogus offer on Friday of last week to sell
$5,000,000 The
foregoing makes the net merchandise imports for
4£s at 108 and $265,000 43 at 127. The offer ostensibly
April $11,884,000 in excess of the exports, and since the
came from a reputable and well-known firm in Philadelphia,
first of January they have been $20,772,000 in excess.
If
but it appeared afterwards that the name was forged to
we add
the usual 10 millions a month (for freights,
the letter, the object, as inferred, being to influence the
stock market.
These amounts, with the premiums, should undervaluations, &c.,) we have an adverse balance of 69
millions from the first of January to the first of May to be
consequently be deducted from the total of bond purchases
provided for either by gold, silver or securities.
np to that date, given by us last week, bringing the total
The announcement of the successful placing of the
at that time down to about $20,646,950 bonds, with
Reading loan in London on Thursday which we refer to in a
$3,779,000 premium. Smce then the purchases have
subsequent article to-day, must we think be followed by
aggregated only $124,150 bonds, which, with the pre¬
easier rates for foreign exchange.
What has been placed
mium paid, would make the week’s disbursements on that
are the
first preference income bonds $11,946,880, and
account when all the transactions are completed only about
$137,435, and the total from the date of the circular up $24,686,000 of the new general mortgage, being the por¬
tion of that mortgage set apart under the scheme of
to last night, including premiums paid, $24,563,000.
The only incident of the week bearing upon European reorganization “for the settlement, purchase or exchange
“of the principal of the outstanding general mortgage
political affairs has been a report by cable from Berlin
“bonds.” What will be the ultimate effect of this trans¬
dated May 19di (which, however, we question, as we
action on gold exports it would of course be impossible at
have not been able to confirm it), that Russia had ac¬
cepted the terms of the French syndicate for a loan, and present to state; but it is natural to suppose that it will
check the movement for a time at least. ,It was by many
that Russia would immediately obtain £ 15,000,000 out of
6-3
Bond
9,075
„
*
supposed that the placing of the Baltimore & Ohio loan last
week would have supplied considerable exchange.
But
very important in its influence, not only upon political
the truth seems to have been that the Baltimore & Ohio
questions but also upon European money markets. As
matter had been previously drawn against, while the allot¬
stated, however, we are compelled to doubt its accu¬
ment of $3,000,000 of the amount to New York had to
racy.
The Bank of England has made a gain of £148,.
the total of
£44,000,000.
If this were true it
would be
result of this, and of be pafd for ; so instead of easier exchange, it resulted in
firmer and higher rates.
the shipments of gold from New York, discounts in the
The crop situation, so far as one can speak of it thu3
open market in London are reported easier at 1£@2 per
cent.
The gain by the Bank was the result, as a private early in the season, seems to be more promising than it
was ten days or two weeks ago.
Recent rains appear to
cable to us informs us, of imports principally from Aus¬
have improved the outlook somewhat for winter wheat in
tralia of £225,000, of an export of £10,000 and of ship¬
ments to the interior of Great Britain of £67,000.
The the great producing belt east of the Mississippi, though
of course these rains could not revive plants already win¬
open market rate at Paris is 2|- per cent, at Berlin it is
1J per cent and at Frankfort
per cent. The Bank of ter-killed, and the yield will undoubtedly be short. In
California there has been such a marked change for the
France gained £276,000 gold during the week.
condition of wheat, according to some of
The feature in our foreign exchange market which has better in the
attracted most attention this week has been the heavy the San Francisco papers, that estimates are being comshipments of gold. Rates were advanced on Tuesday to 1 pletely revised. In the Northwest farmers have been
000 bullion the
past week, and as a
THE CHRONICLE.
26, 1888.J
Mjly
under its influ¬
has been made in putting in
favored with much-needed sunshine, and
For the four months to the end of
April, the Eastern
slightly heavier net than last year, but
As the Western lines are $547,843 behind, leaving the result
corn, and in finishing the planting of spring wheat.
regards oats, the reports are very favorable indeed, on the combined system about half a million dollars poorer
growth during the last week having been very rapid and than in the four months of 1887. While the Western
satisfactory, while the acreage is stated to have been in¬ system, however, shows a heavy loss for the four months,
creased. The promise for hay is also reported to be very for April alone the falling off is quite small, a surplus of
good. In the South the conditions generally have been $49,682 above liabilities being reported this year, against
favorable to the development of -cotton, though in some a similar surplus of $73,102 in April 1887. It should be
sections a little too much rain is reported.
stated, though, that some of the controlled lines of the
Returns of railroad earnings continue on the whole Pennsylvania have not done so well as the Pennsylvania
For instance, the Northern Central, the Baltimore
very encouraging, and there have been several exhibits itself.
this week which are strikingly good.
The Chicago Mil¬ & Potomac, and the Camden & Atlantic have all suffered
waukee & St. Paul again shows a loss—the latest figures a diminution in the net. From other sections of the
cover the third week of May—but this is entirely owing country
we have had few exhibits yet for April,
to the interruptions of traffic occasioned by the floods but the Central of
Georgia is among those that have
to
come
along the Mississippi, the traffic movements over the lines
hand, and it shows decided improvement
between St. Paul and Chicago and Council Bluffs and in both gross and net.
The Cincinnati Indianapolis
St.
Louis
&
Chicago exhibiting an increase. The Northern Pacific, on
Chicago reports a small loss in gro33 as
the other hand, continues to report very heavy gains, well as a loss in net.
The stock market was depressed and lower this week
earnings for the third week this year being stated at
§319,784, against only $225,347 in the same week last till yesterday, when under the report of the successful
ence
"
663
considerable progress
year.
It will be seen, moreover, from our usual
another page that on the 25 roads that have yet
for the third week
aggregate earnings this year are 5-86
the same week last year. For the
is 6-14 per cent on 75 roads. Look¬
ing back to see what the result was a year ago, we find
that then the exhibits were exceptionally favorable, 67
roads recording a gain of 16 57 per cent for the second
week, and 66 roads a gain of 19 11 per cent for the third
week, which makes the further improvement the present
year all the more noteworthy.
The return of the Chicago
& Northwestern for April, issued this week, has also been
an
agreeable surprise. Instead of a decrease, as expected,
there is an increase of $115,551, following an increase of
$118,717 the previous year.
But the most satisfactory exhibit of all is the Pennsyl vania statement for April, for that give3 net earnings as
well as gross, and shows a gain in both.
We have been
so accustomed to see a heavy increase in gross earnings on
this road wiped out by an equally heavy augmentation in
expenses, that a change in that respect now is particu¬
larly deserving of notice.
We find that as compared
with last year there is an increase of $307,211 in gross,
which having been attended by an increase of only $105,475 in expenses, leaves the net $201,736 larger than in
But there was a very heavy augmentation in ex1887.
penses in this month last year, and that doubtless accounts
for the comparatively small increase the present year.
As compared with two years ago the gross has increased
$787,428, and the net $231,755, almost the whole of the
latter, as we have seen, having been made this year. The
following is a comparison of results both for the month
and from January 1.
It will be noticed that while the
gross earnings are decidedly the largest reported for
either period, the net falls below the best previous totals,
owing to the larger expenses.
1888.
1887.
1886.
1885.
1884.
$
$
4,342,834
2,991,051
$
3,862,617
$
3,704,890
4,156,309
expenses.
4,650,045
3,097,42.*
2,541,753
2,431,942
2,461,853
4,061,750
2,593,919
Net earnings...
Western lines
1,552,019
+49,082
1,350,883
+73,102
1,320,88»
+38,591
1,272,943
-45,895
1,694,450
+43,010
1,407,831
+124,382
1,002,30.
1,423,9?5
1,359,451
1,227,053
1,737,475
1,592,213
1883.
Pittsburg.
April.
Gross earnings
O.perat’g
Result
Jan. 1 to
$
$
New York & New
England also fell off sharply in the
part of the week. The decline in St. Paul has been
variously explained—to a liquidation of a pool in the stock,
to the unfavorable reports of earnings, and to a variety
of unfounded rumors with regard to the company’s finan¬
cial condition.
Whatever the reason, however, the fall in
such a prominent stock as St. Paul necessarily unsettled
the whole list, and this accounts for a good part
for
of
the weakness
which
days was such a
prominent feature. At the same t£me the heavy engage¬
ments of gold for shipment and the small purchases of
bonds by the Treasury had the same effect, and
helped the downward movement of prices. Aside from
these influences, the develpments were generally favor
able, though for the moment they have had little influence
upon the market.
As pointed out above, the crop situa¬
tion has improved.
Returns of gross earnings continue
very good, while the statements of the Caicago & North¬
west and the Pennsylvania for April were specially encour¬
aging. In the Northwest, too, the aspect of things is im¬
proving, and at the meeting of the general managers at
Chicago this week the utmost harmony prevailed, and the
new form of agreement for maintaining rates reported by
the sub-committee was adopted without change. AU doubt
as to the position of the Burlington & Northern, and the
effect of its attitude upon the other companies, ha3 not yet
been removed, but there appears to be agrowing belief that
the road will henceforth be much less of a disturbing
factor than it has been in the past.
One of the features
in connection with stock speculation has been the strength
latter
.
of the bond market.
There
17,750,040 16,593,820 14,735,483 13,693,480 15,159,902 15,892,702
Operat’g expenses. 12,342,006 11,212,493 0,889,694 9,438,306 9,770,180 10,161,692
Net earnings...
Western lines
Result^
5,407,434
5,381,331
5,389,722
-103,013
4,845,789
—129,879
4,255,120
+444,230
-378,090
-309,291
5,731,010
+401,022
5.303 821
5.825.561
4.715.910
3.877.030
5.080.431
6.132.032
seem3
to
be
an
active de¬
bonds, and that probably explains why the bond
sympathized much of late with the move¬
ments in stocks.
Thus it happens that while share prop¬
erties are declining, many issues of bonds are rising, and
only the most speculative classes are affected by the course
of share values, and then only slightly.
The following statement, made up from returns collected
by us, shows the week’s receipts and shipments of cur-,
rency and gold by the New York banks.
mand for
market has not
April 30.
Gross earnings
show
tables on negotiation of the Reading loan, a sharp recovery took
reported place. St. Paul has been one of the weak specialties, and
per cent in excess of
second week the gain
Lines East of
lines thus
Week ending Map
25,1888.
Gold....*
Total gold and legal tenders....
Received bp
Shipped by
N. Y. Ranks. N. Y. Ranks.
Net Interior
Movement.
$4,007,009
$599,000
18,000
387,000
Gain. $3,408,000
Loss.
369,000
$4,025,000
$985,000
G.iin. $3,030,000
664
THE
CHRONICLE.
[Vol. XLVI.
The
above^mdicates the actual changes in the bank says such responsibility and such power should not be
holdings of currency and gold caused by this movement lodged in the hands of any man. Even granting that we
to and from the interior.
In addition to that movement shall always have integrity and intelligence at the head of
the banka have lost $4,500,000 through the operations the department, business can never be absolutely free,
of the Sub-Treasury and by exports of gold. Adding nor the money market unembarrassed so long as a
these items to the above, we have the following.
Government regulator is a necessity.
We are apt to think that when taxes are cut down
Net Change in
Week
Out
ending May 25, 1888.
Into Banks.
of Banks.
14.025,000
930.000
5,100,000
9,0 *',000
.Bank Holdings.
Banks’ Interior Morement, as above
Bab-Treas. oper. and gold exports..
Gain. 13,039,Oi
the embarrassment will
be
removed.
Of
course
if Con¬
gress should take off 75 millions of surplus revenue
will be less to accumulate and less to be pushed out.
there
But
Total gold and legal tenders
Loss. 11.401,000
19,125,000
10,586.000
there will be no greater room for dishonesty or for inThe following table stows the amount of ouilion in
competency; either could wreck our industrial hopes even
the principal European banks this week and at the cor¬
then.
Reducing annual expenses to about the minimum,
responding date last year.
we cannot,
with the sinking fund requirements con¬
May 24, 1888.
May 20,1887.
tinued, expect to bring the needed revenue down at pres¬
Banks of
Gold.
Silver.
Total.
Gold.
Silver.
lotal.
ent very much below 300 million dollars.
That means the
£
£
£
£
£
£
taking, on the average, of six million dollars each week or
England.
19,815.130
19.815,130 23,009,178
23,069,178
France
45,437,820 48,405,145 93.842,905 48,057,020 40,913,700 94.970,792
each working day, out of the channels of
one million
Germany
31,324,000 15,602.000 40,988,000 24,030,000 10,024,030 40,000,009
Aust,-Hung’y
5,901,000 14,970,000 20,931,000
commerce, and putting it
into the Treasury raults.
0,753,000 14,101.000 20,914,000
Netherlands..
5,473,000 8.209,000 13,742,000
4,900.000 8,258.000 13,153,000
One may
say
that concurrently another million
Nat .Belgium
2,910,000 1,458,000
4,374,000
2,509,000 1,255,000
3,764,000
National Italy
0,978,000 1,118,000
8.090,000
will come out on disbursements.
But even admitting
7.001,000 1,118,000
8,119,000
Tot. this week 117,904,950 89,882,145 207,787,101 110,925,2J4 87.729,700 204,054.970
that, we have to remember that the payments to the Gov¬
ToLprev.w’k. 117,453,505 89,010,145 207,003,050 110.100,181 87,329.089 203,489,873
ernment have to be mainly in currency—gold, silver cer¬
The Assay Office paid $181,271
through the Sub tificates or legal tenders. This is fixed by statute so far
Treasury for domestic bullion during the week, and the as customs dues are concerned, and
consequently several
Assistant Treasurer received the following from the Cus
millions of currency must be all the time occupied doing
tom House.
Government work, and cannot be of the least use to
Consisting of—
the money market.
Besides, in practice, if disbursements
Date.
Duties.
are left to take their natural course, a million dollars does
TJ. S.
Gold
Silver GetGold.
Notes.
tiiicates.
Certifies.
not come out when the same amount goes in.
The natu¬
May 18.
$343,783 GO
$3,000
$54,000
$199,000
$88,000 ral order would bring payments more in lumps.
This is
19.
2,000
44,000
209.000
309,622 56
53,000
21.
always true of interest on the Government debt—it is col¬
428,383 89
63,000
2,000
299,000
64,000
22.
644,883 16
10,000
69,000
472,000
93,000 lected gradually during three months and put out at the
23.
Loss.
4,500,000
...
....
“
“
“
“
24.
287,144 13
355,589 76
3,000
5,000
Total.
$2,369,409 19
$25,000
M
46,000
35,000
177,000
60,000
262,000
54,000
$311,000 $1,618,000
$412,000
end of the time.
getting rid of the surplus would not divorce
market. Our Sacretary’s
first duty every morning is now, and would even in that
event still be, to learn the financial situation in the leading
cities of the country and feed them with currency in
proportion to their needs so far as his powers permit. He
can do this
by anticipating payments of interest; by adapt¬
ing his other payments to the situation of the market;
by timing his buying of bonds for the sinking fund; and
by making deposits in depositary banks so long as the
Hence,
even
the Government and the money
THE
SUB-TREASURY
AND
THE
MONEY
MARKET.
in
Secretary Fairchild, in an interesting address delivered
Brooklyn this week, referred among other things to a
defect in
our
financial arrangements
which cannot be con
strongly, and which Congress ought to remedy
speedily. He stated that the want of balance between
Governmental receipts and expenditures makes the wil
and judgment of the
Secretary of the Treasury at times a
most potent factor in business.
Then he cited, as an
illustration, the condition last fall when the trade of the
country came almost to a standstill by reason of the daily
accumulations in the Treasury, the strain having been
relieved only when the Secretary had succeeded in
buying
some bonds.
This, he said, “is unnecessary, it is wrong,
that such responsibility should be
imposed upon or such
“power be given to any officer of the Government.”
The difficulty referred to is one that results from our
Sub-Treasury system and will never be wholly removed
until that system is modified.
To be sure it is aggravated
at the present time because of
ouFlarge surplus revenue.
Daily accumulations make the Secretary a despot. His
acts absolutely regulate the rates for
money.
There is
such a flow of currency into the
Treasury vaults that in
the more active months of the year, a few weeks of in¬
attention to the requirements of the
market, might send
to~protest a third of the merchants in the country. Little
consideration is given the matter, because it is well known
that we have an honest and wise
Secretary in control:
he has carried us
through our difficulties thus far, and
will no doubt
manage to bridge over every other chasm
which events may produce.
But as Mr. Fairchild well
demned too
“
banks
can
command the bonds to take the funds offered.
But it will be noticed that all this
is
simply the Govern¬
ment managing the money market, instead of the money
market being regulated automatically by the laws of trade.
Suppose there should be a Secretary of the Treasury
in office who happened to be a little of a financial
crank, or who had a pet theory of his own as
to money and as to his duty;
there are a great
many belonging to that class, and well educated and honest
men, too.
Or worse still, suppose a dishonest creature
should get into power, one who wanted to make money
for himself and friends—how easy it would be for such a
person to accomplish his purpose.
He might for instance
sell stocks short, then produce, through a stringency in
money, a
his short
panic in Wall Street, and after he had covered
sales, pour out the Government funds and restore
prices. All this could be done by a Secretary so dia.
posed, without any one being able to fix the crime
upon him, for it only needs a little stupidity or lack of
alertness to bring it about, and an unsuspicious public
would necessarily, in absence of proof, charge it to a weak
mind rather than to
There is
that
ff
is,
one
even
other
a
bad heart.
thought which should be added, and
if the estimated 75 millions of revenue is cut
by lowering taxes, experience shows that within a year
May 26,
two
1888.J
THE
CHRONICLE.
much of the reduction will be recovered by the
accept payment of their bonds, being of course
the assents—and this small remainder is
being
665
included in
greater productiveness of the imposts remaining. This,
still further
diminished from day to day as new assents come in. This
we need hardly say, renders it the more obvious that Con¬
gress should make this subject a matter for immediate has been accomplished, too, without foreclosure, thus
atudy. For the danger to be guarded against is not saving the valuable charter rights of the company. The
merely such as we have described as being inseparable mere carrying through of an arrangement involving, as we
from a balanced Treasury condition, but such as must see, nearly 133 millions of stocks and bonds, would in itself
accompany a surplus for years to come in spite of tax re¬ be a great achievement, even had foreclosure been required.
ductions, making the need for action on the question im- But to do it without foreclosure and collect at the same time
heavy assessments on all the junior securities—amounting
perative.
We cannot think that many will be led to dissent from in the case of the stock to 20 per cent on the par value—
the conclusion that the existing system is radically defective, this feature stamps it as one of the most brilliant
opera¬
just because a former generation found it met their wants. tions in railroad financiering ever accomplished in this
It may well have suited the conditions prevailing when country.
The work has now been brought to the point where it
adopted, and still be at variance with those existing now.
When the independent Treasury law was passed, a few only remains to distribute the new securities in
exchange
millions covered the total receipts and disbursements of for the old, and pay off the general sixes and sevens out
the department for a twelve month.
Government opera¬ of the proceeds of the bonds negotiated as above. With
tions were at the time only a side show; now the Treasury regard to the new fours, the important points to the in¬
is the largest manipulator of money in the country. Since vestor of course are the road’s position as respects charges
that period too the volume of commerce has multiplied and income, and the character of the lien securing the
very many times; financial operations have grown to bonds.
Looking at the latter point first, we find that the
reach what would have then seemed fabulous figures; and mortgage under which these bonds are issued is a lien upon
all industrial interests have become emphatically one, tied the entire property of both the Railroad and the Coal &
together by means of railroads and telegraphs, and corre¬ Iron Company, a part of the issue being reserved to dis¬
spondingly sensitive everywhere to even the fear of charge at maturity a moderate amount of prior liens;
With such changes, one may when these prior liens are so discharged, this security
monetary disturbance.
readily believe that a system well fitting the old conditions becomes a first mortgage upon all the present as well as
would require remodeling under the new.
We are after acquired property of the Railroad and Coal & Iron
aware that Congress is
probably too full of work to mature companies. The new bonds are also secured by a deposit
a plan this summer; but would it not be wise to
appoint of $31,570,170 of various securities held by the com¬
a committee to
investigate the subject and devise a scheme pany, including the $8,000,000 stock (whole amount) of
for consideration and adoption at the short session next the Coal & Iron Company. As further
security, $39,266,December.
820 of bonds of the old company, as exchanged, includ¬
ing the old general mortgage bonds, the first and second
THE
REORGANIZED PHILADELPHIA &
series fives, and the income mortgage bonds, will be
READING.
deposited until the respective mortgages securing those
In banking and financial circles, Philadelphia & Reading bonds are satisfied.
The coal lands are of course very
valuable.
is
It
estimated that the present contents of the
affairs are just now attracting a large share of attention,
estate
are
4,236,727,000 tons, and that under existing
arising chiefly out of the negotiation of the new four per
cent bonds.
As the Chronicle goes to press it is under¬ methods of mining 40 per cent of it (or 1,694,691,000
stood that the company has sold to a very strong syndi¬ tons) can be sent to market, sufficient, even at an
cate of bankers in London the amount of new general
annual consumption of 10,000,000 tons—the produc¬
mortgages and first preference income bonds provided by tion in 1887 was only 5,731,806 tons—to last till
the plan for taking care of the old general mortgages and the year 2057.
But we have not the space to go
overdue interest thereon.
into
further
details.
In a subsequent part of
The
price is not given,
the
but the bonds are sold “firm" and at a figure which it is paper we give a copy of the document, not of the mort¬
stated will save the company not less than $1,000,000. gage itself, for that would be altogether too voluminous,
This negotiation removes all doubt as to the possible sale but of an official digest of the same, which is much more
of the new bonds and re-establishes the credit of the com¬ useful for purposes of inspection and examination.
We
pany; notice is to be given to the holders of the old gen¬ may also say that the Investors’ Supplement issued with
eral mortgage bonds that they will be paid off in full the present number of the Chronicle contains for the first
time a map of the Reading, which will be serviceable to
prior to July 1.
A few weeks since we pointed out the importance and those wishing to see the location and character of the
effects of this operation to the company, and in connec¬ system.
tion therewith gave a statement showing approximately
As regards the other point upon which it is desirable
the company’s charges after reorganization.
The events to have information—namely, the relation of charges to
of the week, and the growing interest in the matter, war¬ income—the officials of the company have
prepared a
rant our return to the subject, the more
series
of
exhibits
showing
the
status
of
this
vast prop¬
especially as we
are
in possession of exact official data where before erty, its
obligations, earnings, income, charges, &c.
we
were
obliged to rely entirely upon our own calcu¬ These exhibits, printtd in large type, and giving every
lations.
detail of the company’s affairs with great clearness,
That the reorganization scheme has been an unqualified will always be useful, and especially so at the present
success is, of course, well known.
But the official figures juncture; and the furnishing of such a complete statement
show this in a striking way.
Out of a total of $132,942,- of the company’s finances and income cannot be too
626 securities of all classes embraced in the plan, only the
highly commended. We understand that these exhibits
are
intended for general use, so we briefly enumerate
insignificant amount of $1,603,612 (les3 than
per cent)
had up to latest dates refused to
give their assent to the them by their titles and contents. The following is a
achemp, the 1st consolidated fives which have agreed to summary of the tables in alphabetical order.
or
-
•
,
ACB...———SSStttaaaeeemmmeeennnttt
DEF..——SCMuoommntphaalrrisyon
THE
666
CHRONICLE.
in detail of annual rents of leased roads and
canals.
in detail of annual interest of the Railroad
Company.
[Yol. xlvi.
adding on of the interest on the three series of incomes and
the payments to be made on account of the principal of the
car
trusts.
Using for this
official statements before
the figures given in the
get the following result. It
purpose
of annual interest charges on the Coal & Iron
Company.
will be observed that the total does not differ much from
of annual rents, guarantees and charges of that
given in our first article; then we made the amount
every description.
earnings and expenses of the Railroad and the $11,359,188; now we find it $11,439,863. With reference
Coal & Iron Company, separately, for the last four to the reduction in the amount of the second
preference
years, and for the current year to date,
fives, that arises chiefly out of the change in the method
of net receipts by months for the current
year with the coal tonnage for the same months, show¬ of dealing with the old
1st series fives, they now
ing the effects of the coal miners’ strike.
figuring as an obligatory charge.
In these calculations there are included all charges of
Total obligatory charges as above
$8,021,513
every nature and description.
For instance, in the inter¬ Annual instalments on account of car trusts
422,000
est charge of the railroad, allowance is made for the
$24,039,000 of first preference bonds @ 5 per cent.. 1,201,950
interest on the $5,763,722 cf first series fives, and also $16,126,000 of second preference bonds @ 5 per cent.
806,300
interest on all bonds which have not assented to the re¬ $19,762,000 of third preference bonds @ 5 per cent.
988,100
us we
organization Echeme.
In the same manner the charge for
Total of all charges preceding stock
.$11,439,863
requirement on all undeposited
It should be distinctly understood that this represents
bonds of the Schuylkill Navigation Company, the Sus¬
the maximum of probable charges.
Besides the antici¬
quehanna Canal, the Colebrookdale Railroad and the Pick- pated reduction of the obligatory interest in the way
eringValley Railroad. Made up on this basis, the follow¬ suggested above, the company will effect a saving by pay¬
ing is a summary of the obligatory charges of the ing off the old general mortgage 6s and 7s before the 1st
companies in full.
of July.
Interest on Railroad Co’s Debt and Car Trusts
.$4,113,420
A word now as to the company’s prospects.
Without
Rents of leased roads and guarantees
3,040,066
Interest on Coal & Iron Company
868,027 expressing any opinion as to the future development of
the Reading property, it is sufficient to know that the com¬
Grand total
$8,021,513
pany’s finances and management are to-day on an entirely
We thus see that the maximum of obligatory charges different basis from what they have been in the past.
—counting everything except interest on the 1st, 2d and The road’s main difficulty was its pressing load of current
3d preference fives, which is not obligatory, and the obligations.
It was in a state of chronic impecuniosity.
annual payments on the principal of Car Trusts, which Few persons appreciate the demoralization that resulted,
properly belong to capital account—will be $8,021,513; not only to itself but to the entire coal trade, from that
that amount will not be exceeded, and it may be single circumstance.
The company was so pressed for
rents embraces the annual
..
Thus
reduced.
$3,000,000
of
new
fours have
been cash
most of the time that it had to sell much of its
coal
allowed for with which to settle with the Drexel
syndi¬ before it was mined. Thus it became the prey of the
cate, and interest on the same included in the above, while money-lenders. To sell its coal in this way, important
only $1,481,160 cash will be required for that purpose. At concessions in price were of course necessary, and this
the same time if the old first series fives shall be retired brought it into constant conflict with the other coal com¬
with new fours, there will also be a saving on that account. panies, resulting in that complete and utter collapse in
With an interest charge of $8,021,513, what have been prices which is reflected in the poor exhibits for 1884-5
the company’s earnings?
We find that in 1887 the total and 1885-6.
net receipts of both companies were $12,634,054, on which
This state of things is now wholly changed.
The float¬
basis there would be a surplus of nearly 4 J million dollars ing debt has been wiped out, junior security holders
above the charges.
Thus far in the current year—that is, haviDg paid cash assessments in amount of $12,094,744
up to the 1st of May—the statement before us reports a to aid in effecting that end, and on April 1 the company
loss compared with the same period of 1887 of $1,644,039, held $6,813,675 of actual cash assets, or considerably above,
wholly, however, on account of the coal strike, the general we are told, the current liabilities incidental to the
business of the road haviDg increased.
It is also stated operation of the property. The obligatory fixed charges
that, according to the estimate of the most careful and ex¬ have been reduced so as to bring them well within the
perienced officials of the road, the net earnings for the re¬ average of net earniDg3 for the last seven years, and
mainder of the year will be fully equal to those for the provision exists also for further capital requirements.
corresponding period last year, so that the loss for the first Tnus the company is lifted completely out of its financial
,
five months should
mark the limit of loss for the whole
year. In otber words, assuming that this expectation will
be realized, it is estimated that the net earnings for the
current fiscal year will approximately amount to $10,990,.
015, or nearly 3 million dollars above the sum required for
charges. In making this estimate, moreover, the manage¬
ment assumed that the net earnings for April, net then
audited, would show a loss of $100,000 ; instead of that
the actual
figures show a gain of $151,182, being $251,estimate, and reducing the loss for the
182 better than the
five months from
$1,644,039 to $1,392,857, while of
correspondingly raising the $10,990,015 total of
earnings for the twelve months as taken on the original
course
net
basis.
It will be
But there has
been
great improvement in other re¬
For instance, harmonious relations have been
with its old-time rival, the Pennsylvania.
Betterment expenditures, which formerly were charged to
capital account, are now charged directly to operating ex¬
penses. Moreover, since the commencement of the current
fiscal, year the management have set aside as a sinking
fund the sum of ten cents for every ton of coal mined by
the company; this fund is to cover the exhaustion and
depletion of the mines and the charge for the same is
included in ordinary operating expenses.
Altogether, the
contrast between the reorganized Reading and the old
Reading before reorganization, is marked, and for the
first time in a long while the road will be in position to
develop its resources and make the most of its opporspects.
established
interesting to go one step further and see the
charges prior to dividends on the stock, as was
our previous article.
Thi3 involves simply the 1 tunities.
total of all
done in
embarrassments.
May 26,
667
CHRONICLE
THE
1888.J
viously stood at 2 per cent since March 15. As we stated a
week ago, this action was generally expected.
For some
weeks past there has been a constant withdrawal of gold, and
in order to protect the Bank’s supply of the metal an advance
in the rate seemed to be called for.
Since the rate was
reduced to 2 per cent in March last, the bullion has decreased
the preceding year, as follows :
MERCHANDISE.
from about £23,300,000 to a trifle over £19,500,000, and the
For the 12
For the 10
For the
reserve in consequence of the withdrawals of gold for internal
Months endea Months endea
month of
currency requirements (this being the time of year when gold
April 30.
April 30.
April.
is taken in connection with the Scotch demands) has fallen off
$47,817,259 $591,240,116 $683,361,347
1883.—Exports—Domestic
12,194,925 in the same interval from £16,500,000 to about £11,250,000.
10,122,042
1,111,887
Foreign
$48,929,146 $604,362,152 $*95,556,272
Total
-.
Probably had it not been for Mr. Goschen's Debt Conversion
60,812,615 600,561,721 720,459,795
Imports
and the benevolent attitude of the Bank of England to the In¬
3,800,128
Excess of exports over imports
$24, *903,523 dian Government and the firms which brought out the
Excess of imports over exports $11,883,169
$46,034,982 ,$613,901,686 ! $721,270,859 Egyptian Loan, the Bank rate would have been advanced
1837.—Exports—Domestic
13,726,092
11,087,405
1,533,371
Foreign
before this.
The Bank took the unusual course some time
Total
$47,568,353 $624,989,091 $734,996,951
FOR APRIL.
detailed statement of
the foreign commerce of the country for the month of April,
and the ten and twelve months ended with April 30,
1888, as well as comparisons for the corresponding periods of
IMPORTS AND EXPORTS
The Bureau of Statistics has issued its
-
63,581,185
Imports
Excess of exports over
Excess of imports over
imports
............
679,505,439
$52,567,394
$55,4:3,#l2
exports $16,012,832
GOLD AND SILVER—COIN AND
1888.— Exports— Gold— Dom...
Foreign
BULLION.
Silver—Dom
Foreign.
Total
Imports—Gold
Silver
Total
imports
exports
Exports—Gold— Dom...
Foreign
Exoess of exports over
Excess of imports over
Total
Silver—Dom...
Foreign
Total
exports
Imports—Gold
Silver
7 otal
Excess of exports over imports
Excess of imports over exports
2,755,926
2,630,995
$5,829,043
$6,745,628
$19,922,957
8,718,3^5
$23,641,322
$35,386,950
$16,894,621
8,074,116
$24,968,737
$1,105,080
261,184
$1,366,264
Total exports
$3,989,702
$3,198,048
$230,952
727,135
$958,0Si
Total
T otal
572,421,697
$2,324,351
$30,797,780
$748,164
791,104
$1,539,268
$785,083
$43,322,368
13,451,723
$437,762
1,056,484
$1,494,246
$2,217,063
$4,913,650
3,870,952
$8,784,602
$13,976,700
$44,731,560
15,818,151
$60,549,711
$56,774,091
$25,162,761
$16,514,069
$25,976,311
8,045,715
$24,559,784
$16,622,600
429,853
8,647,219
9,923,796
$2,646,916
$4,141,162
$329,278
1,417,154
$22,623,919
$31,408,521
$41,501,409
14,893,763
$26,546,396
$51,106,180
$42,012,650
$1,746,432
$56,395,172
$59,339,303
$24,986,651
$8,233,123
17,326,653
$2,394,730
TOTAL MERCHANDISE AND
of raising the selling price of gold by a halfpenny per
but this proved insufficient to check the outflow.
Some considerable withdrawals have taken place for the
Argentine Republic, and houses having connections with the
River Plate are in a position to take still more if they are so
disposed. An unexpected drain of gold has also taken place
to South Africa, in consequence of the extensive speculations
in progress in the Kimberley diamond region, and the general
development of business in that quarter of the world. The
banks which have hitherto been active in diamond min¬
ing speculations have sought to strengthen their position, both
by taking gold from this country and by curtailing loans to
Kimberley speculators. It will be observed, from the figures
we give below, that the Bank's position, compared with what
it was a year ago, is not very satisfactory, the reserve being
about £3,250,000 less than it was in May of last year, and the
item of bullion being only £19 500,000, as contrasted with
£23,300,000 in 1887. While last year, for every £100 of liabili¬
ties to the public, the Bank held nearly £47 of reserve; at
the present time it holds only a trifle over £36,
The rates for money have been as follows:
ago
ounce,
1888.—Exports—Domestic.... $49,153,291 $614,332,779,$707,274,006
2,100,206
20,827.153| 23,669,216
Foreign
$51,253,497 $635,159,932 $730,943, c 22
62,351,883 657,335,815 781,009.506
Imports
Excess of imports over exports $11,098,386 $22,175,883 $50,066,284
importbj
$48,689,807 $632,792,036 $754,407,528
3,019,708
23,605,576
31,695,603
Foreign
Total
$51,709,515 $656,397,6 < 2 $786,103,131
65,327,617 628,816,869 738,844,742
Imports
Excess of exports over imports
$27,580,743 $47,258,389
1887.—Exports—Domestic
Excess of imports over exports
Imports.
April, 1888.
tricts AND
Ports.
Baltimore,Md.
Boston, Mass.
Buffalo Ck,N.Y
Champl’n, N. Y
Charlest’n. S.C
Chicago, 111....
Cincinnati, O.*
Detroit, Mich.
Imports.
Exports.
t
$
1,056,842 3,864.290
5,90l.K95 4,676,334
268,459 *
179,170
33,354
809,817
228,819
192.276
21,748
61,550
480,027
1,097
10 months
ending
April 30.
1888.
$
9,721,501
52,056.803
5,578,870
3,< *89,943
388,207
11,092.93*
2,110.028
-
2*30,614
Duluth, Minn.
Qalvest’n, Tex
#?,040
207,871
Milw’kee.Wis.
46.274
’
MinnVa.Minn
Mobile, Ala...
85.949
4.572
60,96 i
108,298
5,006,031
2,473,002
126,196
70,,005
539,575
1,494,107
54,909
New Orl’ns.La 1.163,551
9,418,811
New York.N. Y 38.195.26 i 25,066,227 392.940,901
tlu
3,453,052
233.007
Niagara, N. Y..
94,184
4.918
392,988
Norfolk. Va...
98,880
19.137
Oregon. Oreg..
92,266
2.006,008
97,061
144,174
Oswega’ie.N.Y
OBwego, N.Y..
Philadel’a, Pa.
Portland. Me..
8t. Louis,Mo.*
San Fran., Cal.
Savannah, Ga.
Vermont, Vt..
Willamette,Or
Wilmi’g’n, N.C
Yorktown, Va.
Totals, (in¬
cluding all
oth’r Dists.ji
94,196
3,650.145
32,932
1,908,507
19L.<>53
162,635
270,5»4
5,106,048
1,781,170
1C 5,470
79,217
164,739
499,360
19,643
36,270
32,411
650,666
44,152
4*2,829
2
4,1388,109
33.312,144
903,312
2,459,095
37.575.133
280,895
5,205,411
439,212
148,018
4j0,540
1887.
t
10,399,437
49,358,291
5,441.784
2.588,365
507,902
10.248,581
2,210,118
2,088,018
55.871
059,698
460,371
1,554,029
52.131
1^32
“
20
2
“
27
2
-
19*«
10 months ending
1H®
-
19a#
-
-
-
4
2
1A@2
11
3
2%®
®
—
2
296®
-
2)4@3
2«- 2
-
2H®
-
l-
-
D4V
-
Days.
@2)4
@214 2
@2*^
1
1
lU@2)i\2
@2%
2
1
1
1)4 IH
Di-lH
Di-iH
1
l
iK-i*
2%@2X'2}4Z
1
1
IM-1*
1)4
V4 l$*-2
2
@2>* 2
—
l? to 2.4
1
2)4@3
@2A
-
2J*®3
1
at the
discount and open market rates
and for the previous three weeks
ohief Continental cities now
have been as
®
At
Banks. Gall.
2
19*®2*
19*@2
19**2
19**2
19*@2
-
-
The Bank rate of
Exports.
follows:
April 30.
1888.
t
40.270,138
40,741,154
355.092
1,258,8 Cl
14.858,036
1,164,504
3,110,204
2,464,592
15,092,687
659.75i
1887.
April 20.
April 27.
May 4.
May 11.
Rates of
Interest at
44.425,565
51,601.999
327,001
Bank
Open
Bank
Open
Bank
Open
Bank
Open
Rate.
Market
Rate.
Market
Rate.
Market
Rate.
Market
2)4
2H
19*
2)4
Paris
2)4
14,380,110
1,030,834
Berlin
Frankfort
3
3
19*
3
Hamburg
3
19*
3
1)4
3
VA
1H
3
4.527,076
1,780,282
18.K31.989
Amsterdam
214
2
2)4
2
2)4
2
Brussels
2)4
2)4
2)4
2)4
2
Madrid
4
3*
4
2)i
3)4
2)4
2)4
4
8A
4
Vienna
4
3
4
3
4
2K
4
2)i
1)4
19*
1)4
va :
2)4
3%
214
59*
5
59*
5
59*
5
«
St. Petersburg..
5
Copenhagen
3
3
3
8
3
8
3
3
1,412,456
234,717
654,768
2,457,819
3,454,113
8,133.950 72.254,790 75,037,443
378,033,240 263,721,386 260,947,473
3,138,788
+43,375
+62,022
99,934 12,077,484 14,785,439
2c*,550 1,182.140
1,331,9^8
1,452,950
2,114,291
1,415,825
4,010,971
1,057,099
1,432,137
32,647.182 24,901,803 29.544,128
1,572,895
1,492,272
1,954,365
2,74i',40L
33,071,355 24,481,178 28,464,53*7
197,005 19,092,622 23,243,472
4,458.563
1,287,783
1,388,670
319.817
3,970.156
4,997,815
121,015
6,586,837
5,829.900
137,220
8,135,104
0,886,248
06,812,615 48,929,146 600,561,721 572.421.697 604.302,152 624,989.091
Remaining in warehouse April 30, 1887
,....$32,457,884
$36,032,447
Remaining in warehouse April 30,1888
Interior ports to which merchandise can be transported witnout
appraisement, under act of Jane 10, 1880.
t Incomplete iu the absence of law providing the means of collecting
the statistics of exports to adjacent foreign territory by railroad oars
*
and other land vehicles.
[From our own correspondent.]
London, May 12, 1888.
The Bank of England Directors on Thursday advanced the
official minimum rate of discount to 3 per cent, it having pre¬
2H
2H
214
3
3
3
3
3
following return shows the
position of the Bank of
England, the Bank rate of discount,
compared with the last three years :
the price of consols, &c.t
The
1888.
£
Public deposits....
24,555,355
5,558,003
Other deposits
25,279,173
Government securities
17,549.712
19,996.220
11,210,781
19,560,130
Circulation
Other securities
Reserve of notes and coin
Coin and bullion
Reserve to
liabilities
1887.
1886.
1885.
£
£
£
24,075,520 24.829,150 24,644,415
3,307,491
5,979,759
4,33 \111
26,199,302 22,683.213 20,211,619
15.254,754 14 830,498 14,097,134
18,703.082 20,978,125 20,747,528
14,420,756 10,720,269 17,543,527
23,340,270 19,7+9,419 26,442,912
.
36 1-10 p.c.
40~A D. C.
3 p. c.
101
2 0. C.
Rank rat,ft
Consols
Clearing-House return
HLjiuetarijf ©o mmexxtal guQlisft gtcwjs
13
$1*3,61*8,102
IMPORT8 AND EXPORTS BY PRINCIPAL CUSTOMS DISTRICTS.
Customs dis¬
“
-
oitit
Stock
Six
Four
Three
Six
Four
Three
Months Months Months Months Months Months
April 0 2
“
Disc’t ITse.
u
s
$
May
lor deposits by
Trade Bills.
Bank Bills.
London
Total
Excess of exports over
Interest allowed
Open market rates.
COIN AND BULLION.
102 15-10
p. C. 50 9-10 p.c.
3 p. C.
2)4 p.c.
37A
101 5-18
120,659.000 100,125,000 108,598,000
The London market has been
99'* p. 0.
85,931,000
successfully appealed to this
for a number of very important loans.
In January
was a Victorian Loan for a million and a half, followed
closely by various South American and United States Railway
issues ; a Russian railway loan of nearly two millions; a Mexi¬
can loan ; a Uruguayan loan of four and a quarter million*
year
i;here
THE
11668
CHRONICLE.
[Vol. xlvi.
=
:■
Brazilian loan of six millions ; a New South Wales loan of
three and a half millions ; an Indian Sterling loan of seven
a
an Egyptian loan of two and a third millions.
Besides these various issues, there have been several home
millions, and
undertakings of some importance. The floating resources
of the public have consequently been largely drawn upon*
The firmer tendency of the money market lately has dis¬
tinctly turned the foreign exchanges in our favor, and an
easier feeling has been induced by the news of gold shipments
from the United States.
Now, however, that the three per
cent Bank rate is in force, it is noticeable that the open mar¬
ket rate is easier.
If found necessary, the Bank directors
could readily make open market rates rule nearer the official
minimum,by borrowing on security and depleting the floating
supply of cash.
Messrs. Pixley & Abell write as follows on the state of the
bullion market:
Gold,—There is now no demand for Gold, and present arrivals will prob¬
ably have to be sent to the Bank of England. The. movements at the
Bank have been a withdrawal of £317,000 and a purchase of £169,000.
The arrivals have been: From Australia. £244,000; from River Plate,
£14,000;
-
from
Calcutta,
£10,000;
Cape,
from
£16,000.
Total,
£284,000.
£5,000 was sent May 4 to Bombay per P. & O. Steamer.
Silver.—Silver gradually weakened toward the end of last week, and
the small balance, ex Chile Mail, which had not been sold before arrival,
realized 42^d. Subsequently 42*ed. was quoted, but supplies were
scarce, and hardly any silver was sold.
The announcement of a reduc¬
tion to 35 Lakhs in next week’s Council drawings on India caused a
slight rebound ,to 42% 6d.
Arrivals have been: From New York,
£34,000, and from Chile, £70,000. Total, £104,000.
Shipments have been: May 4th, to Bombay, £125,600; May 10th, to
Bombay, £59,500; May 10th, to Calcutta, £24,800. Total, £209,900.
The quotations for bullion are reported as follows :
SILVER.
GOLD.
London Standard.
May 10.
d.
s.
Bar gold, fine....os.
Bar gold, contain’g
20 dwts silver..oz.
London Standard.
May 8.
May 10.
d.
8.
77 9
77
77 10
77
May 3.
d.
Bar silver
oz.
d.
42 3-16
42%
Bar
silver, contain¬
ing 5 grs. gold.oz. 42 9-10
10^
Cake silver
6jpan.doubloons..oz.
S.Am, doubloons.oz.
oz-
42 H
45 13-10
45V6
Mexican dols... .oz.
4 IK
33..884152——TThhee
fiHKllah
the exports of the four months show an ex^
pansion in values of about 534 Per cent. Much of this in.
crease, however, is due to the higher range of prices ruling
as
for metal manufactures.
The values of the impoi ts and exports of the four months
compared with 1887,
Imports.
January
February
1888.
£34,802,988
29,532,776
32,590,821
32,098,693
March
April
4 months
£128,978,878
Exports.
January
February
March
April
4 months....
The
follows:
are as
1887.
Difference.
£31,017,422
28,513,994
-f
+
32,794,930
31,149,925
—
+
Per ct.
£3;755,566
+ 12*09
+ 3*57
1,018,782
204,109
948,768
—
+
£123,423,071
+ £5,555,807
1887.
Difference.
+ £774,936
+ 1,737,290
1888.
£18,583,671
18,992,423
£17,808,735
*62
3*01
4*50
Per ct+
4*34
+ 10*07
-f
19,047,307
17,735,474
17,255,133
19,002,083
16,411,662
+
+
45,224
-(-
*24
1,323,812
+
8*07
£74,358,875
£70,477,613
+
3,881,262
+
5*51
principal imports of wheat and whe&t flour, also maize,
for the first four months of the years named have been:
Wheat—
From Russia
United States—
On the Atlantic
On the Pacific
British East Indies
are
daily closing quotations for securities, &c., at London,
reported by cable as follows for the week ending May 25:
1888.
1987.
1886.
do
for account
Fr’ch rentes (in Paris) fr.
U. S. 4^s of 1891
U. 8. 4s of 1907
Canadian Pacillc
Chic. Mil. & St. Paul....
Erie common stock
Illinois Central
Pennsylvania
Philadelphia & Reading.
For Week.
Dry Goods......
Gen’l mer’dise..
Total
Since Jan. 1.
The following shows the imports of cerealproduce' into the
United Kingdom during the past 24 weeks and 3 days of
the season and the average price realized, compared with the
last three seasons:
IMPORTS.
1886-7.
1885-6.
1884-5.
Wheat
cwt. 30,919,815
35,127,887
Barley
32,115,451
13,674.631
10,410,264
2,298,484
1,785,904
13,360.328
34,931,519
8,287,954
1,423,934
2,144,103
11,770,011
8,382,691
1,326,925
2,278,216
20,251,273
9,516,587
17,085,980
11,832,146
9,285,124
1,720,704
1,725,745
19,815,425
12,310,301
6,610,806
Supplies available for consumption (exclusive of stocks
September 1):
Imports of hour
12,685,236
Bales of home-grown. 29,045,385
Total
Aver,
72,650,436
price wheat
1886-7.
34,931,519
72,411,252 73,519,905
78,731,938
12,310,301
24,973,064
1886-7.
33s. 2d.
1885-6.
31s.
5d.
1884-5.
11,832.146
31,968,273
1884-5.
38s.
Id.
The following shows the <|iiantities of wheat, flour and
maize afloat to the United
Kingdom:
This week.
Last week.
Wheat
qrs.
2,017,000
1,948,000
Flour, equal to
189,7.
1,572,000
1886.
1,884,000
qrs.
qrs.
238,000
394,000
106.000
355,000
235,000
266,000
205,000
271,000
Maize
108
107%
25*4
123*2
537s
32
J
j
108*4
67%
25*8
25*8
123*4
123
53»3
31%
533s
31*4
107*2
following national banka have been
:
1885.
NEW YORK.
1886.
$1,333,173
C,727,196
$1,653,420
$7,653,911
$3,060,369
$11,423,543
$47,526,592
122,782,224
Total 20 weeks. $146,712,413
our
1888.
$1,480,745
7,074,838
9,770,123
$8,555,583
i
106,902,477
In
j
1987.
$1,490,588
6,163, ->23
$50,648,634
134,087,354
$54,402,980
133,512,418
$170,308,816|$184,735,988
$187,915,398
report of the dry goods trade will be found the im
ports of dry goods for one week later.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending May 22, 1888, and from January 1 to date:
EXPORTS FROM NEW YORK.
1885.
For the week....
Prev. reported..
1886.
*
$6,407,282
122,585,624
[
1888.
1887.
$6,032,652 j
$5,743,018
107,635,408! 110,883,362
$5,165,510
109,724,095
Total 20 weeks. $128,992,906 $113,668,060 $116,626,380
$114,889,605
since
following table shows the exports and imports of specie
port of New York for the week ending May 19, and
January 1, 1888, and for the corresponding periods in*
1887 and 1886.
Gold.
Exports.
Week.
Imports.
Since Jan. 1.
Week.
Since Jan.l..
Great Britain
France
541,000
$1,419,040
17,500
Germany
502,000
503,248
9,467
4,168,109
3,204
200,475
114,719
258,533
11,615
166,456
14,292
148,487
$1,052,467
$6,481,149
16,450
1,658
5,288,676
24,740,553
$29,111
288,725
22,738
$4,050,749
West Indies
Mexico
South America
All other countries...
Total 1888
Total 1887
Total 1886
Silver.
Great Britain
France
$156,150
7,300
Germany
West Indies
Mexico
8oulh America
All other countries...
Total 1888..
Total 1887
Total 1886
Of the above
$
$1,768
2,606,506
917,499
9,561
Exports.
Week.
od
1885-6.
32,115,451
9,516,597
31,887,867
35,128,887
1887-8.
week. 31s. 2d.
59 7a
69 7s
59 7e
70 %
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
6,558,189
1887-8.
109*4
130*4
$39,809,936
*+. '
2,803,414
3,782,286
10,138,544
Imports of wheat.cwt. 30.919,815
109*4
130*4
P
109*4*
130*4
60*4
7034
25:*8
123*4
535q
315s
Dry Goods
5,415,964
6,338,065
10,711,275
From United States
cwts. 5,137,530
Total from all countries
6,044,165
12,685,236
1094
130*4
Gen’l mer’dise..
11.667,407
Flour
O
FOREIGN IMPORTS AT
17,081,292
14,855,211
82*90
•
328a
99*8
82*85
imports of last
week, compared with those of the preceding week, show a
decrease in dry goods and an increase in general merchandise.
The total imports were $8,555,583, against $8,257,804 the pre¬
ceding week and $9,059,294 two weeks previous. The exportsfor the week ended May 22 amounted to $5,165,510, against
$6,673,413 last week and $4,956,993 two weeks previous. The
following are the imports at New York for the week end¬
ing (for dry goods) May 17 and for the week ending (for
general merchandise) May 18; also, totals since the beginning
of the first week in January :
Total from all countries.. 12,754,897
corn
9813,6 99*16
82*80
:
123*2
534
42
993,6
Imports and Exports for the Week.—The
at the
Indian
2578
42
Fri.
Watkins National Bank of Lawrence, Kansas. Capital,
$150,000. J. B. Watkins, President; Paul R. Brooks, Cashier.
Prairie State National Bank of Chicago, Ill. Capital, $200,000. James W. Sco ville, President; George Van Zandt, Cashier.
First National Bank of Harrington, Del. Capital, $50,000,
E. Sapp, President ; W. T. Sharp, Cashier.
Citizens’ National Bank of Green Bay, Wis. Capital, $100,000. John Paley, President; William P. Wagner, Cashier.
First National Bank of Hays City, Kansas. Capital, $50,000.
Andrew S. Hall, President; Morgan O. Huntington, Cashier.
2,0-2,424
3,021,080
3,523,795
Beans.
42
981316 99*16
59*4
73
Thurs.
82*75
a
organized since last advices
8,252,106
4,109,899
2.^60,400
Peas
1094
1294
59 >9
Wed.
4l7s
98i3lfi
98 7q
‘
82*65
National Banks.—The
2,249,776
3,540,566
674,976
Oats
Tues.
®0!mtxevcial and miscellaneous Hems
The
1887-8.
9?ilfi
99
108*2
New York Central
1,381,980
Maize
Mon.
4158
d.
Silver, per oz
Consols, new 234percts.
1,046,170
Wheat, Meal and Flour—
Sat.
London.
4,192,041
cwts.
j
,
iHarkets-Per Cable.
The
The trade returns for April, just published, are considered
satisfactory,
Financial
4,439,174
2,669,442"
Imports.
! since Jan. 1.
Week.
$4,111,070
$
\SinceJan.\
$12
195,109,
110,589
19,368
9,127
101,138,'
.
2.182
1.000
136,479
7,473
39,907 j
3,752
347,727!
104,952
10,696
534,619
$167,202
$4,814,379!
$108,134
$808,995
209,400
4,235,3231
7,561
919,159
112,190
4,755.706,
57,077
642,227
imports for the we jk in 1888, $8,582 were Ameri¬
gold coin, and $592 American silver coin. Of the exports
uring the same time, $9,467 were American Fold coin
can
Hat 26)
THE
1888.]
CHRONICLE
669
Seattle Lake Shore & Eastern.—This company has made
—The American Loan & Trust Company, of this city, has
firm of Ryan & McDonald of just made some important changes that will no doubt still
New York for the construction of 225 miles of standard gauge further strengthen the company.
Mr. O. D. Baldwin, late
railroad through the Cascade Mountains toward Spokane Falls. President of the Fourth National Bank, was elected President,
This places the whole distance between the two cities under in place of Mr. R. N. Hazard, who resigned on account of ill
contract, the work to be completed within two years from health. The Vice-Presidency is represented by Mr. Geo. A.
date; the contractors will build from both ends of the line. Evans, of the Bethlehem Iron Company, and the directory by
The cost of this new section is placed at $5,000,000. The such names as John I. Blair, Thomas C. Platt and John P.
country to be traversed is extremely rich in timber, coal and Townsend.
iron, and on the eastern slope in grain and in general produce.
An abstract of the 55th annual report of the National
The Northern Branch of this road, projected from the main Provincial Bank of England will be found
to-day in the
line North to a connection with the Canadian Pacific, is in advertising columns of the Chronicle. This bank has a
progress ; 14 miles of the branch to Snohomish is completed, paid-up capital of over $11,000,000, a reserve liability invested
and the remainder, about 100 miles, is expected to be put un¬ in English Government funds exceeding $7,000,000, a total
der contract this season.
reserve liability exceeding $40,000,000, with deposits amount¬
—A map and statement of the bonded debt of the Seattle
ing to upwards of $174,000,000. In 1887 the bank declared
a
contract with the contracting
—
Lake Shore & Eastern will be found in the Investors’ Sup¬
plement,
built, and are now
the Gilman mines.
»
The company have 59 miles of road
carrying some 400 tons of coal daily from
issued to-day.
dividends of 19 per cent.
The Western National Bank of New
York, of which Mr. C,
Ulster & Delaware—The following is the report of the
N. Jordan, late Treasurer of the United States, is President,
draws bills of Exchange and issues letters of credit on the
National Provincial Bank.
Ulster & Delaware Railroad for the quarter ended March 31 :
Gross earnings from operation, $50,275 ; operating expenses
(excluding all taxes), $47,676 ; net earnings from operation,
$2,599; gross income from all sources, $2,599. The deduc¬
tions from income are as follows : Discount and interest,
government bonds than any other firm of private bankers, are
offering choice lines of railroad bonds to parties holding the
4
per cents, who can make a handsome gain in interest by
thus converting their governments at the present largo
$4,500; interest on funded debt, $4,375; taxes, $5,500; rentals,
$750. The net deficit from all sources is $12,525.
Vicksburg & Meridian.—The bondholders’ committee have
issued a circular urging the importance of giving assent speed¬
ily to a revised scheme of reorganization which provides for a
reduction of the debt to $18,500 per mile. There will be issued
$1,250,000 35-year 5 per cent bonds for five years, and 6 per
cent thereafter, to take up the present bonds and interest and
provide for equipment; $2,650,000 let mortgage consolidated
50-year bonds, 4 per cent for five years and 5 per cent there¬
after, will be issued, $1,250,000 to take up the new firsts when
due, the balance to take up $180,000 judgment due, 90 percent
of 2d mortgages, $990,000, and $230,000 for equipment, bett°rments and assessments on 3d mortgage incomes ; $1,000,000
income 5 per cent bonds will be issued to take up $110,000
(10 per cent) of the present 2ds, $242,000 for accrued interest
on 2ds, $633,600 for 33 per cent of present 3d mortgage in¬
comes, and $14,400 for equipment, &c.
The incomes are
a
mortgage on the lands.
The present 3d mortgage
incomes will pay 3 per cent in cash, receive 33 per cent
in new incomes, 42 per cent common stock, and new consols
for the assessment.
to
The
$3,000,000, of which
new common
stock will be limited
income bonds get $807,400, floating
debt $525,320, the present preferred stock 50 per cent by pay¬
ing $5 assessment, and present common stock 20 per cent by
paying $2 assessment. The total charges will be $118,500 an¬
nually for 5 years.
proposals amounted to
to 73^.
$1,000,000, and ranged from 72
over
—Attention is called to the card of Mr.
Henry S. Redmond
to-day’s Chronicle, Mr. Redmond gives special attention
to choice investment securities, and has, we are informed, at
present some select city, and city railroad, securities on hand
worthy the inspection of careful investors.
—Mr. Chas. T. Wing, so well known as a broker in invest¬
ment securities with A. M. Kidder & Co., died very suddenly
on Thursday.
Mr. Wing, in a business career reaching over
many years, had established an exceptionally high reputation
for honor and fair dealing.
—The Ontario Silver Mining Company has declared its 144th
dividend of $75,000. for April, payable at the Transfer Agency
of Messrs. Lounsbery & Co.
in
Foreign Trade of New York—Monthly Statement.—In
addition to the
foregoing tables, made up from weekly returns,
give the following figures for the full months, also
issued by our New York Custom House.
The first state¬
ment covers the total imports of merchandise.
we
IMPORTS INTO NEW YORK.
;
1888.
Month.
..
March
April
1
dise.
%
23,748,188
23,022,778
31,391,648
32,856,900
t
11,159,704
16,799,664
9,631,882
8,287,994
40,888,287
44,783,632
41,244,5591
38,495,264'
EXPORTS FROM NEW YORK.
$227,587
Balance cash
on
hand April 30, 1888
At New York.
763,303
disbursements
$12,163,562
DISBURSEMENTS.
For operation of road
$9,501,760
For track renta’s
223,942
For N. Y. and Pacific Car Trust Association...
lr 0,693
For Chicago and West Ind. RR Sinking Fund..
32,606
For personal injury claims
7,130
For taxes, year 1886
208,378
For taxes, year 1887
220,963
For special taxes
8,277
For interest on liirst mortgages
1,588,063
For allowances to h'dholders’and their counsel.
60,886
For Chicago <fc West Ind. Property
635
January
1888.
1887.
1888.
$
24,055,029
*
24,478,387
22,294,833
28,385,160
1
26,342,257
22,863,204
25,066,227
February
March
April
98,326,717
Total
RECEIPTS.
operation of road
Month.
1887.
$913,526
$150,223
The following is a summary of receipts and
from Jan. 1, 1897, to April 30, 1888,16 months:
41,144,894
CUSTOMS RECEIPTS.
Month.
37
685,901
1,125
762,177
1
34,907,899
39,822,442
41.023,530
45,879,244 111,019.514 156,898,758
51,071,038 114,340,704 165,411.742
Total Merchandise.
hand, March 31,1888
Receipts in April on prior accounts
Receipts in April on current account
Disbursements in April on prior accounts
Disbursements April 1 on current account
Total.
Merchan¬
Railway
following:
From
dise.
%
25,357,540
3(1,484,136
31,121,301
27,377,727
General
Dry
Goods.
lotal.
Merchan¬
*
15,530,747
14,299,496
10,123,258
i 1,117,537
January....
February
1887.
i
General
Dry
Goods.
April by Receiver McNulty, contains the
on
more
premium.
Total....
Wabash.—The financial statement of the Wabash
Balance cash
Harvey Fisk & Sons, who have handled
new
Toledo Peoria & Western.—Sealed proposals were opened
for the purchase of $424,000 Toledo Peoria & Western Railioad
first morteraee 4 per cent bonds, being part of the authorized
issue of $5,000,000 fust mortgage bonds on that road. The
for the month of
—Messrs.
23,207,963
f
January
13,490,921
February
13,150,682
11,069,63-
March
11,159,654
11,792,308
13/90,217
14,200,789
11,420,147
48,860,895
50.509,455
April
Total
98,344,343
United States Sub-Treasury.—The following table shows
the receipts and payments at the Sub-Treasury in this city, as
well as the balances in the same, for each day of the week:
.
Balances.
on
hand April 30, 1888
“
“
“
12,013,338
“
$150,223
Attention is called to the notice of the Petersburg Granite
Quarrying Company. This property is one of four situated
—
Petersburg, Va.
Two of them
are
public property, the
one
being the property of the Commonwealth of Virginia, the
other the property of the City of Petersburg.
A quarry on an
adjoining farm is owned by the Petersburg Granite Quarrying
Company, and experts fay that all of these quarries contain
granite of substantially the same quality, and that all of the
stone is not only good for building purposes, but admitting of
a beautiful
polish, is excellent for monument?!. This company
is now offering through the house of Messrs. Stewart Brown’s
Sons fifteen thousand shares of its capital stock.
Investors
may obtain further information by applying to this firm,
whose reliable character is too well known to require com¬
ment.
$
1,264.560
May 10
Total
at
Payments.
Coin.
Com CerVs.
$
$
$
■
“
Balance cash
Receipts.
Date.
21
22
23
24
25
2,221,764
3.350,574
1,000,190
1,088,444
2,962,585’
12,797,1171
$
1,873,477 132,627,630
1,260.059 132,661,409
15,805,035
16,429,606
1,186,203 132,739,423
1,150,908 132,856.116
1,664.293 1S2,867,530
1,212,722 132,909,312
19,140,651
19,110,770
20,747,024
18.426,550
1
7,747,662'
Auction Sales.—The following were sold
auction by Messrs. Adrian H. Muller & Son :
Bondi*.
$8,000 Brookl’n City (Bridge)
6s, 1912
136^j& int,
$1,000 City of Leadville, Col.,
..
8s, 1896
75
109
$2,000 ClearHeld Bituminous
Coal Co., 1st M., 5s, 1917...
14,409,195
14,712,551
14,801,964
14,729,451
14,772,069
14,843,897
...
this week at
Shares.
125 Terre Haute <fe IndiauapRR. Co
85
13 Det. Lansing & No. RR.
Co. preferred
91
5 Park Fire Ins. Co
$500 Town of CTawfd, Or’nge
Co., N. Y., 7s, 1891
Currency.
68^
$1,500 Coup’s Montgomery <fe
Florida Rv. Co. from 1st M.,
due May 1, 1887
$250
$5,000 Orange Belt Ry. 1st,
6 s, 1907,each b*nd of $1.000
has 2sharesst’k attached 08
$32,000 Montgoin’y & Florida
Ry. Co. 1st, 6s, 1926
10
25
55
Broadway Fire ln§. Co... 167*2
20 Pacific Fire Ins. Co
150
5 Clinton Hall Assoc..55 to 55*2
117 Cent. N. J. Land Imp. Co. 15
30 North River Ins. Co
100
40 5th A ve. Tran sport’n Co. 74
10 Brooklyn Acad, of Music
(with admission ticket). 115b*.
THE
670
CHRONICLE.
buying par; selling
premium; Charleston, buying £
premium; selling $ premium; New Orleans, commercial, 75c.
premium; bank, $1 premium; St. Louis, 70@90c. premium;
Chicago, 50@60c. premium.
3pxe gawltm' (gazette.
DIVIDENDS!
The following dividends
[VoL. XIAU,
have recently been announced :
United States Bonds.—Government bonds have been very
dull at the Stock
Exchange, though prices have been firm, and
have advanced a little over last Friday’s prices.
The Treasury operations have also been very limited, the
miKcrllaneous.
Secretary refusing to accept any offers at more than 108 for
June 15 June 1 to June 15
2
■Consolidated Gas
the 4$s, and 127 for the 4s, and very few amounts have been
June
2
9,
May
30
June
8
to
Lehigh Coal & Navigation.
offered at these figures.
Of the offerings and acceptances
WALL STREET, FRIDAY, May 25, 18SS-5 F. M.
reported for Friday, May 18, $5,000,000 4$s and $265,000 4s
The
and Financial Situation.—The were fraudulent, and those amounts should be deducted from
Money Market
the total of that day’s Treasury transactions.
Below is a table
principal event of the week has transpired to-day in the an¬
the
amounts
offered
and
each day this
showing
purchased
nouncement on pretty good authority that the Philadelphia &
week, together with the range of prices.
Reading has placed enough of its new securities to retire the
4 Per Cents due 1907.
4V<> Per Cents due 1891.
old general mortgage bonds.
The terms are not yet given out,
Offerings. Purch'es. Prices paid' Offerings. '.Purch'es. Prices paid.
but it is understood that a powerful syndicate of bankers in
$
$
*
$
London has definitely agreed to take such an amount of the
127
11.250
11,250
Saturday
new fours, together with the first preference bonds allowed in
500
108
114,100
126^-127
5,200
67,500
Monday
the reorganization scheme for the payment of overdue interest Tuesday....
127
*
100
108
1,600,100
6,500
527,000
'
108
and bonus on the old general mortgage bonds,, as will save the Wedn’sday.
480,000
244,000
4,000
127
108
1,100
154,000
85,000
Reading Company about $1,000,000; in other words, the Thursday... 230,000
108
200.500
Name of Company.
Per
Cent.
When
Payable.
-
Books Closed,
(Days inclusive.)
the 4s and 4$s
...
....
should cease.
In the stock market there has been a downward tendency,
led almost entirely by the decline in one prominent stock—
■Chicago Milwaukee & St. Paul. This persistent weakness is
attributed mainly to the sales by a heavy pool which had been
•carrying the stock for a long time.
The Treasury purchases of bonds have been small of late and
dlie public will be anxious to know whether the Secretary is
going to pay higher prices than he has yet given. The floating
•supply of Government bonds is very small, and he will probably
have to play upon tne desire for profit in the minds of the
holders of the 4$ per cents, which fall due in 1891.
The open market rates for call loans during the week on
■stock and bond collaterals have ranged from 1 to 2 per cent,
and to-day the rates were the same.
Prime commercial paper
is quoted at 4@5 per cent.
The Bank of England weekly statement on Thursday showed
a gain in specie of £148,000,
and the percentage of reserve
4o liabilities was 38*76, against 38 last week; the discount rate
remains unchanged at 3 per cent.
The Bank of France gained
<6,900,000 francs in gold and 6,050,000 francs in silver.
The New York Clearing House baxks in their statement of
May 19 showed an increase in surplus reserve of $5,508,675,
the total surplus being $27,705,350, against $22,196,675 the
previous week.
The following table shows the changes from the previous
■week and a comparison with the two preceding years in the
averages of the New Y< rk Clearing House banks:
Total.
287,500
10,500
Friday
generals with overdue interest will be paid off, and the Reading
Gompany will be $1,000,000 better off than if it had carried
■out the plan by distributing to the general mortgage bond¬
holders the new first mortgages and the first preferred income
bonds therein allotted to them.
The success of this negotiation
will naturally help the Reading Company and also the general
situation, as it removes all doubt as to the successful re¬
establishment of the company on a sound basis.
The shipments of gold have been a feature of late, but it is
expected now that bankers’ bills will be more abundant for a
few weeks, and it would not be surprising if gold shipments
.
..
1,269,000
106.500
108
Note—From tlie amounts given in
and $265,000 4 s should be deducted,
The
4Lje, 1891
reg.
coup.
4s, 1907
reg.
4s, 1907
coup.
6s, cur’cy,’95.... reg.
6s, cur’cy, ’96
reg.
6s, cur’cy, ’97
reg.
4^8, 1891
126^-127
May
May
May
May
19.
21.
22.
23.
2 4.
May
25.
*107
*10678 *10678 107i8 *107ia *107
*109
*l08ia *10818 *10818 *10818
Q.-Mar. *108
Q.-Jan. *12712 1275o *127^ *127*8 127% 1275s
<3.-Jan. ♦ 127*2 *127^ *12712 *12758 *1275s *12758
&
&
&
&
J.
J.
J.
J.
*121
*123
*125
*128
*130
*121
*123
*125
*128
reg-lJ. & J. 1*130
6s, cur’cy,’99
This is the
May
G.-Mar.
J.
J.
J.
reg. J.
6s, cur’cy, ’98
*
17,650
last Friday’s table, $5,000,000 41u»
these having been fraudulent offers.
closing prices at the N. Y. Board have been as follows:
Interest
Periods
-
2.646,950
-
*121
*123
*125
*128
*130
*121
*123
*125
*128
*130
*121
*123
*125
*128
*130
*121
*123
*125
*128
*130 %
price bid at the morning board; no sale wa3 made.
State and Railroad Bonds.— State bonds have not been
active, though Tennessee settlement 3s have had a fair amount
of business, and have further advanced.
They close to-day at
71$ bid, against 71 last Friday. Other classes have been com¬
.
paratively dull.
In railroad bonds a healthy tone continues to prevail and the
general list has made further improvement. Business has been
moderately active in volume and well distributed over the list,
a few bonds having made exceptional
advances, such as Jersey
Central issues, the Northern Pacifies and Oregons, Houston &
Texas Central bonds, &c.
On the other hnnd, weakness has
been shown in the M. K. & T. bonds and a few others.
The
negotiation of the Reading bonds with a syndicate in sufficient
amount to pay off the old general mortgage is reported on
good authority.
Railroad and Miscellaneous Stocks.—The stock market
whole has been very dull during the past week, a few
stocks only showing any animation or important movement,
and these have given the market its character.
The tone has
been weak, and prices for most stocks have worked down a little,
and in the case of the specialties spoken of the decline has been
as a
quite marked.
There has been little news of a general charac¬
affect the market; sterling exchange has advanced, and
considerable sums of gold have been shipped this week; but in
view of the extreme ease of money and the continued inquiry
for investment bonds, both from home and abroad, this is of
little immediate importance.
There was no strong effort to
ter to
1888.
May 19.
Capital
Surplus
JLoaus and disc’ll
Specie
Circulation
deposits....
Legal tenders...
Het
Legal reserve...
Reserve lield—
Hurplus reserve..
1887.
Diffr'nc's fr'm
Prev. Week.
May 21.
1886.
May 22.
$
$
$
$
60,762.700
e 0.381,500
36 .768.400 Dec,2,603.600 365.843,606. 342,129,200
89,490.100 Inc. 5,30 ’,000 74.439,000 69,819 000
88,400
7.870.000
8.264,900
7,8^ 8.400 fno.
39 1.420.2 .'0 Inc. 3.268,500 374,656,000 365,686.100
36,070,300 Inc. l,023,SOO 23.882.200 35,403,700
817,125
97.855,050 Inc.
125,560,400 Inc. 6,325,800
93.664.000
27,705,350 Inc. 5,503,675
4,657,200
91,421,525
98.321.200 105,222,70 J
13,801,175
Exchange.—The market for sterling exchange has been
firm during the p ist week, owing to an increased demand
fromffmporters and the scarcity of commercial bills. Business
has been active at times, though latterly the demand fell off
Posted rates were advanced early in the week onesomewhat.
half cent to 4 87$ and 4 90, and actual figures have also been
strong and advancing, the sight rate going to the gold-shipping
point. There have been a number of gold shipments, making
the total exported for the week over $5,000,000.
To-day the rates on actual business were as follows, viz.:
Bankers’ 60 days’ sterling, 4 87@4 871; demand, 4 89$@4 89$.
Gables, 4 89$ (®4 891.
Commercial bills were 4 85f@4 86
Continental bills were: Francs, 5 18|@5 19$ and 5 16$«l5 17$;
reichmark9, 95$©95f and 95$; guilders, 4Cf@40 7-16, and
40$@40f.
The following were the rates of domestic exchange on
very
New York at the under-mentioned cities
to-day: Savannah,
depress the market until Thursday, when the bears made a raid
on St. Paul, New England and Reading, and other stocks were
affected somewhat in sympathy.
Up to that time there had
been little change in most of the stocks dealt in, and prices
were fairly well maintained.
St. Paul has been the disturbing factor all the week, having
shown a persistent disposition to decline, under free sales
both for long and short account.
The moderate decrease re¬
ported in the company’s earnings, and various unsettling
rumors of a more or less indefinite character, have been made
use of, but the better reasons
alleged for the decline are the
pool sales, which were placed by some reports at pretty high
figures.
The other grangers have not been seriously affected,
having declined only moderately, showing the movement to
be largely speculative.
As mentioned above, New England
and Reading were also depressed on Thursday, but there was
no
adequate explanation for this movement—only rumors
emanating from the bear side. Union Pacific had a sharp
advance of two points on Monday, on the prospect as reported
that the pending bill would pass Congress, but it subsequent¬
ly declined in sympathy with the general weakness.
Jersey
Central also had a temporary spurt of activity and strength
early in the week, which was afterward lost.
To-day (Friday) the tone was generally stronger, owing to
the success of the Reading bond negotiation.
THE CHRONICLE
1883.]
May 26,
67i
STOCKS—PRICES AT N.Y. STOCK EXCHANGE FOR WEEK ENDING MAlf 25, AND SINCE JAN. 1, 1888.
HIGHEST AND
Sales
LOWEST PRICES.
Range Since Jan. 1,1888.
of the
STOCKS.
Active RR.
Stocks.
Atlantic & Pacific
Canadian Pacific
Canada Southern
Central of New Jersey
Central Pacific
Chesapeake & Ohio
Do
lstpref.
2d pref..
Do
Chicago Burlington <fc Quincy
Chicago Milwaukee & St.
t>o
*
Monday,
May 21.
Saturday,
May 19.
Paul
Pief.
8%
58%
50%
83%
*31%
8%
58%
50%
83%
32%
*1 lo
138
*3%
*2%
*334
*2 %
115
115%
70%
112
71%
112
Chicago St. Louis & Pittsburg.
Chica go St. Paul Min.
& Oui...
*11
13
33
*38
*108
*47
33
50is
84%
31
138
145
110
*12
*32
38
38%
59
13%
G9ie 7038
112
112%
10818 109%
108% 109
^ 141% 144% 145
Chicago Rock Island & Pacific *109% 110% 110
Chicago & Northwestern..
8%
8*4
58 %
49 *4
831*2
31
Tuesday.
May 22.
13%
33%
83a
58%
49%
84%
*31%
8%
58%
49%!
49
8%
58%
49%
84:%
32
83%
83
*3134
*4
*3
34
-
~
*31
37
38
*8
*58
%!
Week,
Friday,
May 25.
8%
*8
*58
49%!
483s
82%
83 V
82
1
*1%
1%
l
*3%
*334
*2 34
I *21^
113% 112% 113% ! 112%
00% 08%
09%!
05%
110% 108% 109% 108%
108V 108
108% 107%
144 1*143
144% *143
109% 10s
109% 108
14% *12% 13% *11%
33
*31
33% *31
37
30% 30%
37%
105% 105%
47
47
48
40%
49%
83%
0
Do
,
23%
37
j*119%
*11
33
Kingston & Pembroke
Lake Erie & Western
Do
pref
Lake Shore & Mich. Southern.
Long Island
Louisville & Nashville
Louis. New Alb. & Chicago...
Manhattan Elevated,consol..
Minneapolis & St. Louis
Do
91%
*91%
50%
*30
93
*55
90
*7
*14
Mil. Lake Shore & West
Do
pref
pref
121
10
1
1*119%
12%'
33%;!
14% 14%'!
*44% 45%;!
91%
92%
50 34i
38_J
79%
Michigan Central
23%
*84
37%
37%
10%
*10
Ind. Bloom. & West
23%
93%|1
80%'
02
91
>
8%
10
Missouri Kansas & Texas
Missouri Pacific
Mobile & Ohio
13%
70%
Nashv.Chattanooga & St.Louis
70%
*8
*11
*33
23%
*84
37%
10%
120
13
*14
33
14%
44%
45
91%
92
92
92
50%
50%
54%
*35
93
79
*57
39
94
81
02
92
8%
18
13%
13%
13%
77
*-8
77%
10
*75% 70%
105% 105%
*14% 15%
.
Miscellaneous Stocks.
Colorado Coal * Iron
Consolidated Gas Co
Delaware * Hudson Canal....
Oregon Improvement Co
Oregon Railway & Nav. Co...
Pacific Mail
-
Philadelphia Co., Nat. Gas
53%
Adams
52%
533s
*7
*14
13
33
1434
45%
91%
92%
*34%
35% 35%
75
75
*74% 75%
109% 109% 1093s 10934
54
53% 53% *53
*93% 94%;
94% 94%
35
35%;
3434 35
|
91
145% 145%
70% 70%
140%
70%
*91
50
38
93
79
01
37%
93
55%
55%
*35
38
93%
*78%
93%
*55
14
*8
10
13%
75%
*00
*8
08
06
30%
30%
*29%
24%
24%
24%
50
57
403s
40%
10%
*10
*8%
*30
*18
47%
24%
51%
*20%
24%
*18 34
62%
22%
*03%
90%
8%
*9%
10*4
119
119%
11% 11%
*32% 35
14% 14%
4334 44%
90% 90%
93
93
54%
55%
*50
40%
10%
*8%
9
31
12%
13%
70%
*8
10
|
10
*05
*29
00
31
24%
|
58
40V
16V
24%
50%
38
10
*8%
9
2 1
51%'
20%:
24%
34!
023s'
22%'
18
19%
23%
18 34
91%'
*90
92
29 %!
*28%
0034
*90
29
*28%
cl
50
20
54%
*13
*
2 134
52%
109% 109%
109%
34
*90
31%
53%
94%
32%
92
91
18%
02
23%
05%
90%
102
47
23
50
59%
22%
*03%
00
95
9
47%'
65
54
10%
47
24
01%
22%
*63%
52%
40%
18%
47%
23%
51%
19%
24%
18 34
15
20
30%
24%
56 34
31
19
20%
55%
07
*30
*34%
75%
94%
8%
*17%
75%
*53
58
90
75%
112
*54
102
20%
55 %!
I
15
19%
54
*13
13%;
*90
8%
30
18%
47
23
18%'
75
93%
33
35%
J
147
75%
147%'
140
70%
143
138
143
140
110
110
110
109% 109%
’135
72
139
73
73
73
71%
140
*135
140
.
’133
140
71%
"133
19
55
30
1
16
9
40% Jan.
3
24
43
94
20
12
21
44%
Jan. 20
14
37% May
16
1
Jan. 30
2; 47% Apr. 30
95% Jan.
93% May
9
2
64% Jan.
D
39
Jan.
3 98
Apr.
2
87% Jan.
27
Jan.
80
27 104% Jan.
28
9% Apr.
23
18% Apr.
19
18% Jan.
24! 89% Jan.
29
13% Jan.
2 80
Jan.
2 108% Apr.
31! 17% Jan.
2 73
Jan.
Jan.
31
37
9; 29% Jan.
22 65% Jan.
22
40
Apr.
10! 18% J an.
9
10
2
82% Fel). 13
4
27
9
10
5
30
30
5
3
27
9
301
27
27
30
9
10
30
9
26
30
30
1
4
7
31
7
11
18
3
23
Apr. 27
92
5
Jan.
2 73% Jan. 30
Jan. 16
3 110
3
Mar. 29 02% Jan.
Jan. 28
Mar. 29'105
Apr. 2 114% Jan. 23
Mar. 22| 28% May
1
May 10! 22% May IO
Apr. 2! 58% Jail. 3
Jan.
3
Mar. 27 10
Mar. 21 30
May 1
Jan. 3 57% Apr. 30'
Mar.
27; 30%
2
38% Feb. 17
Jan. 18
Mar. 29: 78
Jan. 30
Jan. 3 112
30% Apr.
2,334 08%
8,190 103
8551 45
1,400: 84%
4,005 28%
53%
94%
33%
110
72
17%
1534
51 %
4,850; 19%
99,295; 48
75
*138
19%
4234
17%
100
50
1
27
10
6
24% May 14
88% Jan. 10
Mar. 28j
9% Apr.
Apr. 2 33% Jan.
Mar. 24 19% Apr.
Mar. 31 49% May
Apr. 3 20% May
Mar. 31 i 54% May
Jan.
Mar. 27! 25
Apr. 2 20% May
Jan.
Apr. °! 03
Apr. 2! 07% Feb.
Apr. 2! 26% May
0! 09% Feb.
Jan.
Apr.
100 105% Apr.
1,000
110
734
20
15%
41%
03
100
500
143
14% Mar.
1,490
200
13
24
53
*138
*135
110
200
927!
109% 1103s
*o2 %
800
1z34 Mar.
63
Apr.
28
Mar.
22% Mar.
53
Mar.
29% Mar.
302' 89
100% 100%
101% 101 %
23 34 2334
19% 20%
5334 55 %
13
20,280
02% 153,020
23% 21,480
200
04%
9109
*70
72
140
225
51
220
700
24%
92
142
’138
110
*138
109% 109% 109% 109%
71
71%
71%' 71% 71%
Apr.
2,125 102% Apr.
14,275
18%
00%
22%
*34%
140
140% 147
*140% 147%' 140
75% 70%
70% 703s
70%
70% 70%
1,5001 71
3,730‘
21,055i 70% Mar.
0% Mar.
2,788
3,050
50%
3% Mar.
Mar.
A pr.
813
100
000
400
19%
23%
53
j
39%
10%
20
53
91
^
83
11
11
1,900
61,790
52
109% 110%
52% 52%
93% 93%
33
33%
Mar.
15,100
52 %!
75
325
100
250!
24%
23%
14*7%
05
29
Mar.
50
24%
75%
110%
53%
94%
33%
10
75
100! 50
24%
23%
*34
75
19,910! 50% Apr.
30
Apr.
i’,495 83% Apr.
1,400, 72
Apr.
50
64
27% Jan. 16
55%
105% 105%
14% 14%
22%
49%
Mar.
9% Mar. 28:
077| 87% Apr.
13%!
25%'
30
796 114
93%
0%
27
30
11% Apr. 30
51123 May 1
2
76%
*17
40
2
1.550! 40% Apr.
34,085' 85% Apr.
00
91
27
24
7% Mar. 20l
550|
22
75
*8
75
37%
*15%
8%
29%
Mar. 22;
84
700l 12% Mar.
57
23
20
55
15
500
810
705
15
91%
4
24
7
3 133% Jan. 30
23
6
Jan.
44
Mar. 24 55
Jan. 23
00
8% Mar.
10% Jan. 12
55
Mar.
05
Feb. 23
44
13%
65
29
33% Jan. 10
*>.
15% Apr.
400j
300!
79%
*88
0%
2, 84% May 21
20|
36,010 123% Apr.
3,270! 32% Apr.
*39% 92
29
29% *28
00%
0534 00%
113% "111% 112%
101%102
102% 102%
23
75
78
"55
Mar. 26,
1
33
38
92
92
13%!
101% 103
*24%
52%
78%
17%
24%
102
54%
*33
31
50%
20%
24%
22%
43%
90%
225'
I
12
*14
10% Jan. IO
Jan.
3
21 50% Jan.
9
0; 02%
Apr.
Apr.
Mar.
1,700; 17% Apr.
......
38
91
17%
*J0
18%
47%
24%
51%
20%
63
*11
3
7% Apr.
Feb.
55%
45%
73%
110, 20%
23
88
*9% 10
119% 119%
*91
70 %l
07
07% 07%
07%
112% 113% *112% 113%
*13
30
*80
31
75
75%
*75% 70 %'
105% 105% 105% 105%
15
15
14% 1434
70%
105% 105%
*14% 15%
20%
54%
*22
12
*75%
101
22%
18
77
*54
33
*35
91
78
58
90
*7
80
02
92
*7
8%
70%
29
22%
23
87%
934
934
120% 120%
11% 11%
*32% 33%
14% 14%
44% 44%
90% 91
12%
37
90
Pullman Palace Car Co
Western Union Telegraph....
Express Stocks.
53%
37%
10%
*
100
New York Central & Hudson. 100
New York Chic. & St. Louis... *14% 15%
08
60
*65
00
Do
1st pref.
30
30
Do
2d pref..
*28% 30%
2 4% 25
New York Lake Erie & West’ll 1
25% 25%
50
Do
pref. *55 % 50%! 50
New York & New England....
40% 41
40% 41%;
10
New York Ontario & West
16V 10% 10%
9
9
New York Susq. & Western...
*8%
*8%
Do
30% 30%
30% 30 34
prof.
Norfolk* Western
18% 18%
48
Do
48%
47% 47%
pref
Northern Pacific
24% 24 %'
24% 24%
52 %!
52
Do
51% 523s
pref
Ohio & Mississippi
*20% 20%i
25
25 %:
24% 25
Oregon & Trans-Continental..
Peoria Decatur & Evansville.
18% 19 | *18% 19
63 %!
03
02% 63%
Philadelphia & Reading
Richmond* West P’tTerminal
22% 23 ! 22% 22%
05
Do
pref. *03 % 04% *04
93
Rome Watertown & Ogdensb’g *91
*90
92
29
St. Louis *.San Francisco
29
*28
29%
08
Do
07% 67%
pref. *07
Do
lstpref. 113% 113% *112% 113%
55
55
St. Paul & Duluth
56
*55
Do
102
*102% 103% 102
pref
St. Paul Minneap. & Manitoba. 102
102
*101
103
Texas & Pacilic
Do
new
20% 20%'
20% 20%'
Union Pacific
5L% 54%
54% 50%'
*13
15
Wabash St.L. & Pacilic
*13
15
Do
*24
20
*21% 20
pref
Wheeling & Lake Erie, pref..
*14%
*44%
90%
91%
*35
94
*79
*50
*88
*7
*14
22%
*85
35%
120
*11%
35
23%
87
37%
*9%
121
78
9%
70%
23%
87
!
Do
2d pref..
Evansville & Terre Haute
Fort Worth & Denver City
1,500
7,128
5,930
12,745
Highest.
5% Feb.
3% May
3i 10
Jan.
39!
134 Mar. 20!
7% Feb.
ii334 5,190 112 Apr. 2 130% Jan.
07% 151,0451 65% May 25 78
Feb.
110
5,703 108% May 251117
Apr.
108% 50,181 102% Apr. 2 112% Apr.
144
182 138
3
Feb.
145%
Apr.
108
1,845:103% Apr. 2 114% Jan.
13
i 11% Apr. 41 14% Jan.
34
100 29% Mar. 31
38% Jan.
37%
1,600; 32% Apr. 2' 42
Apr.
33 102% Apr.
3 110% May
47
7l5i 42% Apr.
2, 53% Feb.
100! 17
Mar. 21! 25% Jan.
109
100% 100%
pref.
49
47
47
48
48
Cleveland Col.Cin.& Indianan.
! *47
00
22
19
*19
*19
*19
19
22
*19
Columbus Hocking Yal. &Tol.
129% 129% 129% 128% 129% 128% 129% 128% 129%
Delaware Lackawanna & West 129% 130% 129
r
18%
Denver* Rio G., assessing pd. *18
47% 48
*48% 49
Do
4734 48%
pref. *48% 49
9%
*934 10%
9%
*9% 10%
9%
9%
*9% 10%
9%
9%
East Tennessee Ya. & Ga. R’y.
04
*01
*01
63
02
02
61
02
01
02
01
61%
1st pref.
Do
*
Lowest.
Shares.
83a
48%
32%
*1T>
33g
338
113% 113% 113%
08
08% 09%
110% 111
109%
108% 108% 108%
143% 143% r143%
109% 109% 109%
*12% 14% *12
*37
Thursday,
May 24.
8%
58%
*1%
*5%
*31
38
Wednesday,
May 23.
Mar.
Apr.
Apr.
29
2
2!
55% Apr.
97
May
38% May
26
2
1
1,000 90
May 19 100% Feb. 15
2,159 135% Apr. 3! 147% May 25
2; 79% Feb. 24
ro% Apr.
18,284
12^145
Jan. 23
10 137
Apr.
551 100% Mar. 22 110% Apr. 26
4
Jan.
883 O'!
75% Apr. 24
71%
Jan. 19 139%
May
7
Jan. 12! 75
Apr. 2! 99%
9 140%
Jan.
20 135
400j 40 Mar. 19 43%
94%
55
89% Mar.
0
4%
2% May 25
3
6%
4% Apr.
13% Mar. 5 10%
112 135
Jan.
3:142%
Feb.
Feb.
Feb.
Jan.
Jan.
Jan.
Feb.
10
20
10
30
26
9
24
140
428
Inactive Stocks.
73
*88
*133
*41
Atchison Top. & Santa Fo
Do
pref
Cincinnati Wash. * Baltimore.
r pref.
Do
Mexican Central
Morris * Essex
N. Y. New Haven * Hart
Ohio Southern
Oregon Short Line
Pitts. Ft. Wayne ACliic
137
1
41%'
*92%
92%
*3
4
*5%
5%
*15
15
%!
23%
.
154
*9
*34
*30
*12%
13
154
11
35
*20
*10
21
12
31%
89%
*5
*15
*11
4l%!
90%
3%|
5%;
15%'
135
41
*90
*2%
*4%
*15
88%
*218
13
|
*11
73%
73%
87%
140
41
90%
3%
5%
15%
*9
34%
11
*9
35
87%
*133
41
*90
*2T>
*4%
41
90%
3%
5%
15%
*14%
142% 142%!
224
13
24
219
*11
21
13
11
*9
35
11
35
*10
26
313s
88%
a
35%
38
20
31%'
*7
*20
21
11
*14%
218
*11
i.53%
*9
*31%
30%
90%
3%
5%
15%
13
ii
35%
2%
*4%
*14%
*220
*12
2%;
5%!
15
13
23% 23%
154% 154%
‘769
12
425
100
9
27%
20
20
25%
20
25%
20%
31%
80%
31%
88%
31%
84%
31%
31
31%
85%
31%
86 34
30%
80%
85%
86%
20%
11
*9
11
| Prices from both Exchangee.
1,550!
10,050|
6 ,9J/»PO:
4,223
Apr. 23
May 23
Jan. 16
Apr. 20
25% May 4
221 13
Jan.
5 155
May 14
Mar. 19
13% Jan. 12
Mar. 31
38% Jan. 10
M ar. 27
41
May 4
Apr. 3 10% Jan. 16
9% Jan. 27
7% Apr. 20
9
Jan.
Mar. 221 30
17
10
Mar. 16
14% Jan. 24
24% Apr. 2: 32% Jan. 30
12
30 34
Jan.
Mar.
13% Mar. 20
125 151
9
400 33
100 35
11
100
10
the prices bid and asked; no sale was made at the Board.
100 215
10
11
35
10
9
!
*9
35
%
27%
*10
9
*135
138
138
138
40 34 40%
40% 40 34
89%
*2%
*4%
70
500! 80
87%'
*7
20
*9
1
11%
89%
*31%
*30
030
73%
24
21
24% 24%'
*153% 155
153% 153% *153% 100
*7
3 L%
are
*2%
137'*,
38%
l.i%
20%
.......
|
23%'
Tennessee Coal & Iron
26%
Various Stocks, Ac. (Uni isted.)
These
*41
*90
*87%
141% 141%
*11
Columbus & Hocking Coal
New Central Coal
Amer. Cotton Oil Trust
Pipe Line Certificates f
1
*i*33*'
73
220% 220% *218
Quicksilver Mining Co
Do.
pref
St. Louis Alt. & Terre Haute
St. Louis Ark. & Texas
South Carolina
88%
25
Mar.
74% Apr.
2l' 34% Jan. 17
5i 100
Mar.
6
CHRONICLE.
THE
672
[VOL. XLVI.
BONDS—LATEST PRICES OP ACTITE BONDS AT N. Y. STOCK. EXCHANGE. AND RANGE
Closing.
Railroad Bondi.
AXL A Pac.—W. D. ino.,
6a, 1910
19
80
05
83%
83%
Goar., 4a, 1937
108
Gas. South.—let guar., 5a, 1908 108*3
92%
92*3
2d, 5a, 1913
------Central of N. J.—let, 7a, 1890.. 107 b. 106*3b.
27*3 Jan.
Jan.
Mar.
84
May
108*2 May
89*4 Mar.
94*3 Jan.
108*3 Jan.
119
120*4
Convert, deb. 6a, 1908
•General mort., 5a, 1987.. ....
Leu. A W.B.,con.7s, 1909,as’nt
Am. Dock A Imp., 5a, 1921...
Central Pacific—gold 6a, 1898..
Ban Joaquin Br. 6a. 1900
Land grant 6a. 1890
Mort. 6a, 1936
dies. A O.—Pur. m. fund 6a, ’98
6a, gold, aer. B.1908, coup, ofl
Exten. coup.,
Apr.
104*3
103*4
113*2b. 114*4b.
107 %a.
116
114
101
102
110
67
67
17
102
4a, 1986
1918
6a, currency.
Mort. 6a, 19il
-- --Chea. O. & Bo. W.-5-6a, 1911...
Chlo3ur. A Nor.—1st, 5a, 1926. 100
•Ohio. Burl. A Q.—Con. 7a,
Debenture 5a, 1913
DenverDivia.,4a, 1922...
Jan.
Feb.
Jan.
98
104
-Apr.
104% May
114% Feb.
107% May
116
May
b.
b. il4*3b.
b.
Apr.
b. 102 b. 101*3 Apr.
b. 110 b. 105*4 Feb.
b. 66 b.
62*4 Mar.
b. 66 b.
62
Apr.
b. 17 b. 16% Apr.
b. 102 *ab. 90*3 Jan.
105 b. L03% Mar.
101 b. 98
Apr.
132%b. 132*4b.
105 b. 106 b. 104
1903.
May
123*2 Apr.
94
....
a.
115% Feb.
103% Jan.
104% Mar.
114*4 Feb.
70% Feb.
70*3 Feb.
103
133
Mar.
113
Jan.
Jan.
....
v
b. 133
a
Gen.
j 123
70 b.
118*30. 119
78
78%
Vl*2b. 71 %b.
63
b.1
63*2b
70
gold, 6a. 1904
let con. 4a,
1936
a.
,
Den. A R. Gr. W.- lat, 6a, 1911.
63
75
71
60
Apr.
May. Ill
May. 106*2 Apr.
Mar.
95*3 May
Apr. 133*s Feb.
Mar. 108
May
123*3 May
May 100*2 Jan.
129
113
106
Jan.
Jan.
Mar.
Mar.
Pac. of Mo.—lat, 6a, 1888
2d mort., 7a, 1891
b.
a.
113%
90
May
May
75
Jau.
121*4 Mar.
Mar.
79*3 Jan.
Jan.
Mar.
73
Feb.
68*3 Jan.
81
43
Jan.
Jan. 103
Mar. 104
Mar. 137*3
Jan. 1115
Apr. 118
Feb.
99%
Apr.
Jan.
Apr.
Jau.
Feb.
Apr.
Mar.
Jan.
89*2 May
Apr.
Feb.
106
Apr.
105*3 Jan.
92*2 Jan.
38
Apr.
122*4 May.
97% Feb.
Mar.
Apr.
Jan.
110
118
Jan.
;116
;114
May
May
Feb.
108*2 Jan.
j
69 Feb.
jl 12*2 Jan.
I 89*2 Jan.
!
71*3 Jan.
j 88
Feb.
21
! 111*3
77
75
98
110
127
;
May.
Jan.
Jan.
Jan.
Apr.
May.
Jan.
126*4 May.
122
Apr.
114
May
;123 Feb.
;114% Apr.
! 100
May
j 115 Apr.
ill5
109%
Jan.
1114 b.
May
110%b. 106% Mar. 111034 May
Feb. 104
Feu.
100*3b. 99*2 Mar, :1023s Apr.
114
b. 107*4 Apr. 114
May
.
92*2
j 87% Apr. j 93
Jan.
105
May
May
103*sb.|;100
b. 108*8
104 %l>. 102
! 106*3
126*3b. 127 b. 126
1108 b. 108 b. 107*2
107 b.i 107
>107*2
1115 b. 117 a. 115
:lU2*4b. 102%
100*2
1
< 108
b.ii 104
115
Jail.
Mar. !117
Jan.
i
Mar.
Alabama—Class A
Class B, 5a
Class C, 4a
3 to 5
..
Bid.
Ask.
Jan.
Feb.
Jan.
108
105% 105% :Miaaouri—6a
1906
1906
1900
109
100
103
cone
1914
Stamped, 4e
Miobican—7«
106
112
104
12
21
10
May
i
105
!
67
64
58%
98%
56
112
Highest
118*4
113*3
105*3
104%
Mar
Jan.
Jan.
117% Jan.
102
Feb.
110
59
May 121% Apr.
50% May
60
Ill
Mar.
108% Feb.
Jan.
Feb.
Mar.
73*4 Jan.
63*4 Jan.
90
Mar. 106% Jan.
Jan.
108*3 Jan. 116
b.
50*3 Mar.
98*4
b. 113*3
105*3 Jan.
50
43
93*s
91*8
129*4b. 128%
130
103*3b. 104
b. 134
134
110
110
105% Jan.
51
Feb.
93% Feb.
Jan. 130*3 Mar.
May. 106*4 Mar.
Feb.
Jan. 135
Apr. 111 Feb.
Jan.
May 133
Mar.
84*3 Jan.
103
b. 132%
b. 103*3
127*2b. 128
127*3
90*3
90
90% May
86*4 Jan.
H6*4b. 116%b. 114 Mar. 117*3 Jan.
130 b. 131 *3b. 127
Jan. 130*3 May
109*3b. 110*4b. 107% Jan. 110% May
107 b. 107 *3b. 102% Jan. 107
Mar.
109
Jan. 114*3 May
N. Y. Ont. A W.—lat. 6a. 1914.. 112*4b. 113*3
93
Jan.
Mar.
N.Y.Sus.&W.—lat ref., 5s, 1937. 92*3b. 92*2b. 90
Aa>r. 114
Mar.
Midland of N. J.—lat, 6a. 1910 114' a. 112 b. 109
80*3b. 81%a. 75
N. O. Paoiflo—lat, 6a, 1920
Mar.
83% Apr.
Mar.
Norfolk A West. - Gen., 6a, 1931 117 b. 117*20. 112*3 Jan. 118
118%
115*3 Jan. 118% May
North.Pacific—let,coup.,6s, ’21 118%
106*4
106*4
102
Jan. 106% May
Gen’l, 2d, coup.* 1933
92%
92*3
Gen’l 3d, coup. 6a, 1937
92% May
90% Feb.
103*2b. 99% Jan. 102*3 Jan.
N. Pac.Ter.Co.—lat, 6a, 1933... 102
Ohio A Miaa.—Conaol., 7s, 1898. 116**2b. 117 b. 114*3 Jan.
117*3 May
117
118
116
Apr. 118*3 Mar.
2d, conaol., 7a, 1911
Ohio Southern—1st, 6a, 1921... 105 %b. 105 %b. 99*3 Jan. 106*2 May
37
35 b.
29
40
Mar.
Apr.
2d,inc., 6s, 1921
72*3
72
70
Omaha & St. L.— 1st, 4a, 1937..
Mar., 76 Jan.
104%
102%b.
105
94*4 Jan.
May
Oregon Impr. Co.—let, os, 1910
113
a.
Ore. R. ANav.Co.—lat, 6a, 1909 112%
108% Feb. 113
May
103
103%
96% Jan. 104 May
Consol., 5a, 1925
99
93
Jan.
99% Apr.
Oregon & Tranaoon.—6a, 1922.. 96*4
110 b. 106
110
Jan.
Peo. Dec. A Evans.—lat, 6a, ’20. 109
May
107
102
Mar. 107
Evanav. Div—lat, 6a, 1920... 107
May
72
70 b.
71
2d mort., 5a, 1927
75% Apr.
Apr.
Rich & All.—1st, 7a, 1920, tr. rec 52*sb. 52%b. 51
59*4 Jan.
Apr.
109
Jau. 115*3 May
Richm. & Dan.—Cone., 6a, 1915 114*3b. 115%
b. 116
Mar. 118
Feb.
Rooh. & Pitts.—1st, 6a, 1921... 118 b. 118
116 b. 116 b. 113
117
Jan.
Apr.
Conaol., 6a, 1922
Jan. 110*3 May
Rome W. A Ogd.—lat, 7a, 1891. 110*3b. 110%b. 107
105*4
101*3
100% Apr. 105*4 May
Conaol., extend., 5a, 1922
103 *4b. 98
103
Jau. 103% May
St. Jo. AGd.Ial.—lat, 6s, 1925
39%b. 40
38 b.
41
Jan.
May
2d, income, 5a, 1925
St. L. Alt.4 T.H.—lat, 7a, 1894. 114%b. 114%b. 112*4 Feb. 114% May
HO a. 108
Feb. 110*4 Jan.
2d, M., pref., 7a, 1894
i*Ol %i>. 101*2 0. 103 Jan. 105 Apr.
2d., M., inc., 7s, 1894
.
.
Dividend bda, 6a, 1894
St. L. Ark. 4 Tex.—1st, 6s, 1936
40
99
39
a.
32
b.
35
Apr.
99*3b.' 98
38
b.
38
2d, 6s, 1936
109 b. 106*3
St. L. 4 Ir. Mt.—lat, 7a, 1892... 109*8
106
b.
106
2d mort., 7a, 1897
105%
104 b. 103%
Cairo & Fulton—1st, 7a, 1891 104*3
82
84*3
Gen. Ry. 4 land gr., 5a, 1931.
i 80
St. L. 4 San Fr.- 6a., Cl. A,1906 115*sb. 116
113*4
116
b.
115 b.
115%
6a, Class B, 1906
115 b.
114
6s, Claes C, 1906
11634b. 112*3
116%
Gen’l mort., 6a, 1931
104 b. 103%b. 100%
Gen’l mort., 5a, 1931
100
So. Pac., Mo.—1st, 6a, 1888... 102*2b. 102%
St. Paul M. 4 M.—lat, 7a, 1900 114*2b. 115 b. 112
11 b*2b. lT6*3b. 116
2d, 6a, 1909
117 b. 117*2b. 114
lat cons., 6s, 1933
97 %b. 96*4
Do
reduced to 4*38.. 98
86%
85*2
80
Montana Ext. lat, 4a, 1937...
90
Shenandoah Val.—lat, 7a, 1909.
31
b, i 30*3*>.
29
Gen’l mort., 6a, 1921
101 b. 100 % b. 97
So. Carolina—1st, 6a, 1620
69
2d, 6a, 1931
13*2b. 13 b. 13
Inc., 6s. 1931
So. Pac., Cal.—1st, 6a, 1905-12.. 114 b. 114%b. 111*4
107 b. 107 b. 105*4
So. Pac., N. M.—lat, 6a, 1911.
41
Tex. 4 Pac.—Inc. 4 ld gr,7s, ’15 46 %b. 46*4
70 b.
7o%a. I 65
Rio Grande Div.—6a, 1930
b.
61
59
Gen. mort. 4term., 6a, 1905..
85
99*8
Tol. A.A. & N. M.—lat, 6a, 1924.
Tol.A.A. A Gr.Tr.—lat, 6a, 1921 108 %a. 105 b. 101
99*4b. 93
Tol. & Ohio Cent.—let, 5a, 1935 98%
b.
..
Tol.St.L.4 Kan. C.—lat,6a, 1916
116*4b.
Union Pacific—1st, 6a, 1899
101 b. 101 *2b.
Land grant, 7s, 1887-9
118 %b. 121
Sinking fund, 8a, 1893
110%b. 111 b.
Kan. Pacific—1st, 6a, 1895
Mar.
111*3 Jan.
May
Apr.
Apr.
Jan.
Jan.
Jan.
118
Jan.
118*3 Jan.
118
Jan.
May
May
Jau.
Jan.
102% Feb.
Apr.
18% Jan.
Apr.
Jan.
Apr.
Mur.
85
116
Feb.
Mar.
108*3 Mar.
51*3 Jan.
73*2 Apr.
Jau.
100*3 Apr.
i 113*s Apr.
121% May
Apr.
Jan.
Jan.
Jan.
91*2 Jan.
114
i
109*3 Feb.
b. ! 101 %
100
79%b. ; 78
1
37
i 93
! 84
Chicago Diviaon—5a, 1910
Wabash—Mortgage, 7a, 1909..
Tol. 4 Wab.—1st, ext., 7a, ’90 109 *2b. 110*2b. !107
110 b. 110
b. ! 107*4
lat, St. L.Div.. 7a, 1889
85 b. 85
2d, extended, 7a, 1893
83
Con.,conv., 7a, 1907
110 b. 110 b. 105*3
Great West.—let, 7a, 1888
87 b. 85 b. 82
2d, 7s, 1893
West Shore—Guar., 4a
103%
Wheel. & Lake E.—lat, 5s, 1926 99%
Jan.
Apr. 1118*3 Jan.
Mar. ?117*3 May
98
Apr.
May
Mar.
86% May
95
Jan.
Apr.
36*4 Jan.
Apr.
112% May
Wab. St.L. 4 Pac.-Gen.,6a, ’20
112
105*3 Jan.
92*3 Jan.
Jan. 1102%
Jan. j 114*3
Denver Div.—6a, 1899...... 11234b.
109
1st consol, 6s, 1919
109*4
108
Oregon Sli. Line -1st, 6a, ’22.. 107
78*2
48*3 Jan.
Jan. |116% May
Jan. j 104*3 May
b. 109% Feb.
Virginia Mid.—Gen. m., 5s, 1936
May
104*4 Feb.
112
112
:.
1st, 68,1896
40
Jan.
Mar.
64
Apr.
104
May
107*2 May
100
May
94
Feb.
116% May
*98%""
103%
99 b.
Jan.
Feb.
Jan.
Apr.
Jan.
Feb.
Apr.
Apr.
Apr.
104*8 Mar.
112*3 Jan.
112
116
May
Apr.
110*4 May
109
82
47
May
Feb.
Jan.
98% Feb.
90
109
Jan.
Jan.
110
91
Feb.
88*3
Apr. 111
90
Apr.
99% Jan. 103%
94*3 Jan. 100*3
Jan.
May
Feb.
May
Jan.
May
May
BONDS.
Bid.
due 1889
or
1890
,
Ask.
Tennessee—6s* old....;..1892-1898
38
8
9
Special tax, Class 1.
1910
1919
94*4
120
Bid.
SECURITIES.
Rhode Island—6s, cou.. 1893-1 £94
South Carolina—68, non-fund .1888
Brown consolidated 6a
1893
103*3
Asylum or University, due 1892 104
Funding
1894-1895 107
New York—6a, loan
1892 109
6a, loan
1893 110
36
North Carolina—6s, old
J&J
10
Funding act
1900
20
New bonds, J. & J
1892-1898
Consolidated 4a
6a
..
1st, Extension, 6a, 1927
lstpref. debentures, 7a
Mutual Un. Tele.—S. f., 6a, 1911
Nash. Ch. A St. L.—lat, 7a, 1913
N.Y. Central—Extend., 5a, 1893
N.Y.C.&H.—1st, op., 7a, 1903
Debenture, 5s, 1904
N.Y.&Har.—1st, 7a, 1900
N. Y.Chic.&St.L.—lat, 4a, 1937..
N.Y. Elevated—1st, 7s, 1906
N. Y. Lack. A W.—lat, 6a, 1921.
Construction, 5a, 1923..:
N. Y. A Nor.—lat, 5s, 1927
Chatham RR
90%! 91*3
1890
Mobile <fe Ohio—New, 6a* 1927
SECURITIES.
1906
6s, 10-20
Arkansas—6e, funded..1899-1900
7*4
10
7s, Little Rock A Fort Smith, iaa.
10
7s, Memphis & Little Rock, iaa..
7s, Arkansas Central RR
Georgia—7s, gold
1890 104*3
Louisiana—7b,
Imp. A Equip.—6s, 1922
Mo. K.&Tex.—Con., 6s, 1920...
Consol., 58,1920
Consol., 78,1904-5-6
107*2 Apr.
113*3 Jan.
118
Feb.
103*9 Jan.
Lowest.
Mil. Lk.Sh. A W.—lat, 6a, 1921. 118*2b. 118*3b.
Ashland Div.—1st, 6a, 1925...
Milw. 4; Nor.—M. L., 6a, 1910.. 110 b. Ill
107 %b. 108
Extension, lat, 6s, 1913
100 b. 100 b.
Minn. A St. L.—lat, 7a, 1927
May. 130 Feb.
May. 110*3 Jan.
STATE
SECURITIES.
May 18 May 25
104
b.
'105
115
i1115
Feb.
73% Jan.
12I*8b. 119
122
Jan.
95 a. 95
i 94*2 Apr.
Henderson Br.Co.—lat. 6a, 1931 109 %b. 110*8 a. 107*8 Mar.
H. A Tex. C.—lat M. L. 7a
118 b. 120%a.! 111
Mar.
1 112
117 b.
Feb.
lat, West. D., 78,1891
! 112 Apr.
jll4 a.
105 b. 102
Feb.
2d, conaol. M. L. 8a, 1912.
Gen. mort. 6a, 1921, tr. rec... 1 68 b. 68*2 a.i 65
Jan.
Ind.Bl. A W.—l8t,prei.,7e, 1
!ll0*2b. 113*2b.‘ 110 May
1 81*4u. 81*2b-: 80 May
lat,5-6a, 1909, tr. rec
68 a. 65
Feb.
2d, 5-6a, 1909, tr. rec
East. Div.—6a, 1921, tr. rec.. 81*4b. *i u. 80
May
2 L a., 15
Mar.
Income, 6s, 1921, tr. rec.
Int. & Gt.Nor.—lat, 6a, gold
104 %b. 104*3
i 98*2 May.
70
70 a.
61
Coupon, 6s, 1909
Apr.
Kent. Centr.—Gold 4e, 1987
72
72%
69
Jan.
Knoxv. <kO.—lat, 6s, gold, 191
1 39*2 Jan.
99 a.
98
L. Erie A W.—1st g., 5s, 1937
ilOS a. 10K a.
01*2 Jan.
126
b. 125
Feb.
126%
;
125*2l>. 126 b. 122*3 Jan.
120 b. I20*2b. 119*2 May.
lat, conaol., 5a, 1931
114 b. 114*2b. Ill -Jan.
118%
116 *2 Apr.
Lou%& Nash.—Conaol., 7a, 1
118*8
N. O. A Mobile—lat, 6a, 1!
114*3b. 11.4 *2b. 108*8 Jan.
98*4b. 99 b. 90*2 Jan.
2d, 6s, 1930
E. H. A N.—let, 6s, 1919.
116 b. 116 b. 114
Fell.
100
100
Feb.
Feb.
121
Ill
Apr.
Gold, 6a, 1923
110%
Jan.
132*2 May
Gulf Col.&San.Fe—lat,7a, 1
114%
May
102*3 May
Jan.
:
Det.Mac. A M.—Ld. gr. 3 *«8,1911 35 a. 34*3a. 34*a
E.Ten. V.A G. Ry.—Con.,5a, '56 10i%b. 102*2
953*
99% i 96
JBliz. Lex. A B. Sandy—6a, 1902.
134% | 132*3
Erie- let. conaol. gold, 7a, 1920 134*4
115
114 b.j Ill
Long Dook, 7a, 1893
115 b. 1L6 a.! 115
Con. 68,1935
97*11 1 94*2
97*4
87*2 ! 77%
Ft. W. &Denv. C. - let, 6s, 1921 88%
105 a. 107 a-! 101*3
109b.
108 a.i 98
2d M., 7a, 1905
West. Division—lat, 5a, 1931. 90*2b. 90*2b. 90
Gr’n B. W.&St. P.—2dinc. 8a, 1911 34 b. 36 a.; 25
General, 6a, 1930
Trust Bonds, 6a, 1922....
10-40,68, 1924
50-year 5a, 1937
Lou. N. A. A Ch.—lat, 6a, 1
Consol., gold, 6s, 1916
Mem. A Ch’laton—6s, gold, 1
Metro. Elevated.—let, 6a, 1908.
2d, 6a, 1899
Feb.
104
70*2 a.! 76*3 May
76*2a.
Den. So. Pk. & Pac.—let, 7s.
Apr.
May
143
120*4
108 b.i
107%
Sinking fund debent. 5a, 1933 109 *4 b. 103 b.i 107
104*2
105*€b.| 04
26-year debent. 5a, 1909
95 %b.
Extension 4s, 1926
91*a
i'32% i 130*3
Chi. R. I. A Pac.—6a, coup. 1917.
Exten. A col. 5s, 1934
107*4
108,
! 104
Gh. 8t.P.,M.& O.—Conaol. 6a. '30 123 b. 122*flb.j
97
b.i 97
Ch.St.L.* Pitta.—lat,con. 5a,’32 97
128
119
128
114
105*3 May
Sinking fund 6a, 1929
Sinking fund 5a, 1929
112%b.l 107*
113
Gen. 68,1934
104*sb.i 100
Col. Coal A Iron—lat, 6a, 1900.. 105%
Col. H. Val. A Tol.—Con. 5a, '31 69*3b. 70
| 63
Jan.
117*4 Feb.
100*4 Feb.
a.i
b. 114
105
1
lat, Chi. A Pac.W.Dlv—5a, ’21 105
102% !
Wis.&Min. Div.-5a, 1921...
102 *3b. 102%a.j 100
Terminal 5a, 1914
140 *2 a.!
Chic. A N. W.—Conaol. 7a, 1915 140*4
132 b. 132 b.
Gold, 7a, 1902
Apr.
95
L13
Jan.
Chic. A East. HI.—Con. 6a, 1934 il4%b. 115%
Chic. A Ind. Coal R.. 1st, 5a, '36 97%b. 97%b. 96
Apr.
118 b.
Oh. Mil. & St.P—1st, I.& M.7a, '97 119
127
127*8
123*3 Jan.
Conaol. 7a, 1905
let, So. Min. Dlv.—6a, 1910....
Jan.
107*3 Feb.
May
91
Feb.
28
102*3 May
108*3 Jan.
Range since Jan. 1.
Railroad Bonds.
Highest.
b.
119
118
ConaoL7a, 1899
Convert. 7a, 1902
I
Lowest.
20%
19 % b.
Closing.
Range since Jan. 1.
Bay 18 May 25
SINCE JAN. 1, 1888
*95
123
Compromise, 3-4-5-6a
1912
New settlement—6a..
5a
3a
1913
1913
.1913
Virginia—6a, old
6a, consolidated bonds
6s, consolidated, 2d series
6a, deferred, trust rec
...
109
4
107
62
72
Ask.
4*4
65
104*3 105*3
96
71*3
48
70
50
8
72
9
Hay
THE
26,1888.]
BONDS—STOCK EXCHANGE QUOTATIONS ON
Bid.
SECURITIES.
Railroad Bonds.
Ateh. Top. & San. Fe—4*28
Sinking fund, 6s
84
115
108
123
1C9
98*2 99
1934
Registered
Minn. & St.
L.—1st 7s, gu ..1927
West.—1st 7s....1909
Ced. Rap. L F. & N., 1st 6s. 1920
1st 5b
1921
Central Iowa—1st, 7s, Tr. Recl899
Iowa C. &
1912
1912
1924
Eaet’n Div., let, 6s
Illinois Division—1st 6s
Cons, gold bonds, 6s
Cent. RR. & Banking Co., Ga.—
Collateral gold, 5s
1937
Chea. & 0.-68, gold, ser. A... 1908
1908
Coupons off
dies. O. & So. West.—2d 6s... 1911
Chicago & Alton—let, 78
1893
Sinking fund, 6s
1903
Louis. & Mo. River—1st7s.. 1900
2d 7s
1900
St. L. Jacks.& Chic.—1st, 7s. 1894
1894
let, guar. (564), 7s
2d mortg. (360), 7s
1898
2d, guar. (188), 7s
1898
Miss. R. Bridge—1st, s.f. 68.1912
114*«
Registered
Indianap. D. & Spr.—
1st, 7s, ex. fund, coupon
92%
9278
85
87
j
1
*84
127
117
127
CJhic. M.& St.P.—let, 8s, P. D.1898
1898
2d, 7 3-lOs, P. D
105%!
130 1
128*2
116
120
127
127
*115
104
124
130
128
106
124*2
101*2 103 *2'
*120
123*2;
100% 101
.
100
C. & L. Sup. Div., 5s
Inc. conv. sink, fuud 5s
Dakota & Gt. South., 5s
1916
1916
*
97
96
Chicago & Northwestern—
Escanaba & L. S.—1st, 6s...1901
Des M. & Minn.—1st, 7s ....1907
*112
*126
Iowa Midland—1st, 8s
1900 *130
Peninsula—1st, conv., 7s... .1898 120
Chic. & Milwaukee—1st, 7s. 1898
Win. & St. P.—2d, 7s
1907
Mil. & Mad.—1st, 6s
1905
Ott. C. F. & St. P.-lst, 5s..1909
Northern Ill.—1st, 5
1910
Cl. Col. Cin. & Ind.—let, 7s, s.f.’99
Consol, sink, fd., 7s
1914
Chic. St. Paul M. <fe O.—
Chic. 8. P. <fc Minn.—1st, 6s.1918
No. Wisconsin—1st, 6s
1930
St. Paul & 8. 0'.—1st, 68
1919
Chic. & E. Ill.—1st, s. f., cur..1907
Gen. con.,
1st, 5s
...1937
Chic. <fe w. Ind.—1st, s.f., 6s.. 1919
.
General mortgage, 6
1932
Chic. & St. Louis—1st, 6s
1915
Cin. I.St.L.A Chic.—1st,g.,4s .1936
2d, 6s
1926
Col. & Cin. Midland—1st, 6s.. 1914
Cceur d’Alene, 1st, 6s, gold... 1916
-DeL Lack. & West.—
Convertible 7s
1892
j
,
108
108
124
131
1221o
125 -
123*2 123%
118*4 119 j
95*2 95%
112
115
95’
9b
100
112*8
109% 110
let, ext., 7s
Coupon, 7s
1894 *113%
Registered, 7s
Pa. Div., coup., 7s
125
136
1891 *107
1894 *113%
1917 *141
Registered
Albany & Susque.—1st, 7s.. 1888
1st, cons., guar., 7s
1906
Registered
1st, cons., guar., 6s
1906
145
103*8
i03*2*
130
133
122%
& Sar.—1st, coup., 7s. 1921 141*2
Registered
Det. Bay C. & Alp.- 1st, 6
1913 107*2 108*4
Duluth & Iron Range—1st, 5s. 1937
92% 93
Dul. So. Sh. & Atl.-5s
1937
84*8 85
E. Tenn. Va. & Ga.—1st, 7a... 1900 120
Rene.
*
103
No price Friday: these are latest
90
65
South.Pac.,Ariz.—1st 68,1909-10
Union Pac.—1st, 6s
1896
let, 6s
1897
let, 6s
1898
Col. Trust, 6s
1908
Col. Trust, 5s
1907
a Br. U. P.—F. c., 7s
1895
Atch. Col. & Pac.—1st, 6s. 1905
Atch. J. Co. & W.—1st, 68.1905
Ut. So.—Gen., 7s.
1909
Extern, 1st, 7s
1909
Missouri Pac.—Trust, g..
107%
114
115%
115** 116
116
*104
*94
104
103
102
96
94
116**
104**
104
5s..1917
Verd’s V. ImL&W., 1st, 58.1926
Ler. & C’y Val. A. L., 1st,58.1926
St. Louis <fc San Franoisco—
1919
1895
1987
1st, 6s, Pierce C. & 0
Equipment, 7s
1st, trust, gold, 5s
b105
T05
98
Kan. City & 8.—1st, 6s, g.1916
Ft. S. &V.B. Bg.—1st, 68.1910
St. L. K.&So.Wn.—1st, 6a.l916
Tex. & Pac.,E.Div.—1st, 6s 1905
102
105
1073g
109
92*4
39%
1st, gold, 5s
2000
2d, income, 5s
2000
Consol., 6s, trust receipts. 1905
39 7g
106
Pa. Co.’s guar. 4*28,1stcp..1921 109
Pa. Co.’s 4*28, reg
1921 *108%
Pitts. C. &St.L.—lst,cp.,78.1900 118
Pitts. Ft. W. & C.—1st, 7s... 1912 143
142**
2d, 7s
1912 139
1912 131**
3d, 7s
125
7s.1900
1892
Clev. & P.—Cons., s. fd.,
111
1931
72
1918
122
1920 ios”
120
1st, 7s
Registered certificates
N. Y. P. & O.—Prior lien, 6s ..1895
N. Y. <te Northern.—2d, 4s
1927
N. Y. & New Eng.—1st, 7s....1905
1905
Susq.&West.—Deb. 6s... 1897
1st, 68
111
50
54
'116
115
Registered
&RedM’n—lst,g.,6s.l937
Dul. <te Manitoba—1st, g. 68.1936
Do Dakota I)iv.—1st, 6s. 1937
Hel. B.Val. & Butte, 1st, Os.1937
Drummond & P’bg.—1st, 5s. 1937
Helena & No.—1st, g’d, 5s. 1937
La M. & Mo. Riv.—1st, 5s..1937
N. O. & No. E.-Pr. 1., g., 6s ..1915
100
Riv.-l8t,6s.l932
113
107
1926
New Or. <fc Gulf-1st, 6s
Norf. & W.—New
1934
1924
Ogd. & Lake Ch.—1st, 6s
Ohio & Miss.—Cons., s. f.,
99
108
104%
117
Detroit Div.—6s, tr. rec —1921
Cairo Div.—5s
1931
Wabasli. M., 7s, Trust rec
Toledo & Wab.—1st ext., Tr. rec.
St. Louis Div., 7s, Trust rec...
2d M. ext., 7s, Trust rec
1883
105
107
"
"82*’
92
93
91
93*2
90
85*2
11
80
91
85*4
*
84*2
93
90
mmmmrnw
6s. 1912
St.L.K.C.&N.-R.E.& RR.7s.’95
Clariuda Br.—6s
1919
St.Charles Br’ge—lst,6s.l908
No. Missouri—1st, 7s
1895
West.N. Y. & Pa.—1st, 5s ....1937
2d in. gold 3-58
101*2
1927
102
Warren & Frank—1st 7s...1896
West. Va. C. & Pitts.—1st, 6s.. 1911
West. Union Tel.—Coup. 7s.. .1900
N. W. Telegraph—7e
1904
Market St. Cable Ry., 1st, 68.1913
Manhat. Beach Imp. Co.—7s. 1909
105
Am. Water Works Co., 1st. 6s. 1907
114*2 Tenn. Coal Iron & Railway—
1917
Tenn. Div., 1st, 6s
Bir. Div.—1st con. 6s
109
Col. & Hock. Coal
1905
1063s 107
1917
& I.—6s, g..l9L7
Georgia Co., N. C.—5s
General 5s
1932
Ohio Cent.—1st Ter. Tr., 6s... 1920
Min. Div.—1st, 6s
1921
Ohio River RR.—1st, 5s
1936
quotations made this week.
1921
Indianapolis Div.—6s
85*2
85
1910
an.
1920
Oregon & Cal.—1st, 5s
1927
Panama—Sink, fd., sub., 6s... 1910
Peoria & Pek U’n—1st, 6s..-.1921
2d M., 4*«s
1921
Div., 6s...
Suin. «feNaples—1st,7s....
& Tol.—1st, 7s
1890
1909
100
117
7s..1898
Springfield Div.—1st, 7s
Havana
Ill. & So. Iowa—1st,ex.
_
Helena
Chicago Div,, 5s, Trust rec
Consol, conv., 7s, Trust rec....
Gt. West.—1st, 7s, Trust rec
2d, 7s, Trust rec
1937
1936
Spokane & Pal.—1st, 6s
St. Paul & N. P.—Gen., 6s..1923
Wab. St. L.& Pac.—Gen. 6s, Tr. rec
Equip, bonds
N. Y. N. H. & H.—1st, reg. 4s. 1903 *109
N. Y.Tex. &Mex.—1st, 4s....1912
Northern Pac.—
Dividend scrip
Dividend extended
James River Val.—1st, 6s. .1936 104
Imp. & Ext., 6s
Adjustment M., 7s
Registered
Divisional 5s
...1930
E.&W.of Ala.—1st,cons. 6s,g.,1926
vSlla. C. & N.—S.f., deb., 6s. ..1921
1st mortg., 68....
1920
St. L. & Cairo- 48, guar
Morgan’s La. & T.—1st, 6s
2d, 4*28
1907 1365s
Svra. Bing. <fc N. Y.—1st, 7s. 1906 132*2
141*2
Morris & Essex—1st, 7s
1914
2d, 7s
1891 1093g
Bonds, 7s
1900 *120
123
Pacific RRs.—Central PacificGold bonds, 6s
1895 11578
Gold bonds, 6s
1896 ns7*!
Gold bonds, 6s
1897 *115%
CaL & Oregon—Ser. B., 6.1892 104
West. Paciflo—Bonds. 6a....1899 115
No. Railway (Cal.)—1st, 6s. 1907 114
108
4th, sink, fd., 6s
120*2 122
St. L. V. &T.H.-lst, g.,7s.l897 *116*2 118
106*2
2d, 7s
1898
128
29
2d, guar., 7s
1898 106
121*2 12278 Pine Creek Railway—6s of 1932
76
124
767i§
125
Pitts. & Western—1st, g., 4s..1917
122
123
Pitts. Cleve. & Tol.—1st,6s... 1922
Pitts. Junction—1st, 6s
1922 108
Mahon’g. Coal RR.—1st, 5s. 1934
Pitts.
McK.
&
1932 115
Y.—1st,
6s
Long Island RR.—
Pitts. Y. <fc Ash.—1st 5s
1927
N. Y. & M. Beach—1st, 7s..1897
Rochester & Pittsburg—
N. Y. B. & M. B.—1st, g., 58.1935
100
108
Buff.Roch.&Pitts.—Gen., 58.1937
Louis.& Nash—CecilianBr.7e.1907 105
Rich. &Danr.—Debenture 6s. 1927
Pensacola Div.—6s
1920 102
84*2
Debenture, ex coupon
St. Louis Div.—let, 6s
1921 114
83
84*9
57
Consol, mort., gold,!5s
1936
2d, 3s
1980
Atl. & Char.—1st, pr., 7s
1897
Nashv. & Decatur—1st, 7s.. 1900 117
Incomes
L
1900
S. & N. Ala.—S. f., 6a
1910
88% 89 "
Rich. & W. Pt. Terl. Trust 6s.. 1897
Louisv. C. & L.—6s
1931
94
San Aut.& Arans.—1st,6s,’85-1916
Pens. <fc At.—1st, 6s, gold.. 1921
91
913*
87
1st, 6s, 1886
J
1926
Lou. N. O. & Tex.—1st,4s.... 1934
40
Scioto Val.—1st, cons., 7s
1910
2d mort., 5s
1934
60
Coupons off
Mexican Cent.—New, ass., 4s.1911
108*2
17*2 20
St L. <fe I. M. —Ark. Br., 1 st, 7s. 1895 107
Income, 3s
1911
Cairo Ark. & T.—1st, 7s
1897 107
......1909 120 122
Michigan Cent.—6s
113
St. L. Alton & Ter. Haute—
Coupon, 5s
1931
120
113
Bellev. & So. Ill.—1st, 8s. ..1896
1931
Registered, 5s
107
Bellev. & Car.—1st, 6s
1923
Jack. Lan. & Sag.—6s
1891 104
70
8t. Louis & Cliic.—1st, con. 6s. 1927
Milw. Lake S. & West.—
117
88% St. P.Minn.& M.—Dak.Ext.,6s.1917 115
1907
Conv. deb., 5s
115
Min’s Un.—1st, 6s
1922 ‘111
Michigan Div.—1st, 6s
1924
112*2
89
94
Mont. Cen.—1st, guar,, 6s.. 1937
Minn.&St.L.—Fa Ex.—1st,7s. 1909
110
75
Paul
St.
<fe
Duluth—1st,
5s....
1931
2d mortg., 7s
1891
Sodus Bay & So.—1st, 5s, g...l924
Southwest Ext.—1st, 7s
1910
48
Tex. Central—1st, s. f., 7s
1909
1921
Pacific Ext.—1st, 6s
45
100
1st mortg. 7s
Minn. & Pac.—1st mortg. 5s.. 1936
1911 115
117
102
Tex. & N. O.—1st, 7s
1905
Minn. & N. W.—1st, 5s, gold.. 1934
Sabine Division, 1st, 6s
1912 101% 102
Minn. S.Ste.M.&Atl.—1st,5s.. 1926
91
Tol. Peoria & W.—1st 7s, Tr. rec...
Mo. K. & T.—Cons.,2d, inc.,.,1911
105*2
101
Valley R’y Co. of O.—Con. 68.1921
H. <fe Cent. Mo.—1st, 7s
1890
Virginia Midland.—Inc., 6s... 1927
Mobile & Ohio—Col. tr., 6s ...1892 102
41
44
N.Y.
*70
Mortgage, 7s
7s of 1871
1901
1st, con., guar., 7s
1915
DeL & Hud. Canal—1st, 7s... 1891
1906 102*4
Ind. Dee. & West.—M. 5s
1947
2d M. ino. 5s
1948
Lake Shore & Mich. So.—
Cleve. P. & A.—7s
1892
Buff'. & Er.—New bonds, 7e.l898
Kal. & W.Pigeon—1st, 7s... 1890
Det. M. & T.—1st, 7s
1906
Lake Shore—Div. bonds, 7s. 1899
Consol., reg., 1st, 7s
1900
1903
Consol., reg., 2d, 78
Ask.
Pennsylvania RR.—
Nash. Chat. & St, L—2d, 6s.. 1901 108
116% N. J. June.—Guar. 1st, 48
1986 *103*2 104*2
114
95
94*2
117
112
65
Bid.
SECURITIES.
*
....
*112
Registered
Cin. Jack. & Mac.—Ist.g.,58...1936
Cleveland A Canton—1st, 5s.. 1917
Col. & Green.—1st, 6s
1916
96*4
120**
*128*2
107
*120
*125
1951 *118*2
Dub. & S. C.—2d Div., 7s ...1894
Ced. Fans & Minn.—1st, 7s. 1907
95
•Chic. Rock Isl. & Pac.-
1921
Fargo & South., 6s, Assu ...1924
110
117
104
132
1908
Gold, 5s, coupon
114
115
115
107
Okie. Burling. <fe Q.—5s, 8. f. ..1901
Iowa Div.—Sink, fund, 5s..1919
Sinking fund, 4s
1919
Plain, 4*
1921
let, 7e, $g., R. D
1902
1st, La Crosse Division, 7s. .1893
1st, I. & D., 7s
1899
1st, C. &M., 7s
1903
1st, 7s, I. <fe D. Ext
1908
let, S. W. Div., 6s
.1909
1st, 5s, La C. & Dav
1919
let, H. & D., 7s
1910
1st. H. & D., 5e
1910
Chicago & Pacific Div., 6s.. 1910
Chic. & Mo. Riv. Div., 5s ..1926
Mineral Point Div., 5s
1910
1897 118*2
1919 *115
1923 108
1920 116
1888 *10312
1920 128*2
Ask,
B. N. Y. & E.-lst, 78
1916 *138*2
N. Y. L. E. & W.—Col. tr., 681922
90
Funded coup., 5s
1061a
1969
90
89 *a
86
Buff. & S. W—Mortg. 6s....1908
120
1021* 103%j Evan. & T. H.—1st, cons., 68.1921 118
70
84
Mt. Vernon—1st, 6s
1923
Evans. <fe Indian.—1st, cons... 1926 103
Eureka Springs R’y, 1st, 6s, g.1933 100
Fl’t & P. Marq.—Mortg., 6s... 1920 119*2 120
97
98
Grand Rap. & Ind.—Gen. 5s..1924
97*2 Green B. W. & St. P.—1st, 6s. 1911 101
83
1911 *118*4 120
Han. & St. Jos.—Cons., 6s
114
Houston & Tex. Cent, lstm 1. t ree 113
113*2
West Div. 7s, tr. reo
110
105
2d m. 8s M. 1. tr. rec
70
Hous. E. & W. Tex—1st, 7s... 1898
100
100*2 Illinois Central¬
104
105
105
ist, gold, 4s. 1951
*
94
95*2
102
1st, gold, 3*28..
1951
68
Springf. Div.—Coup.,..6s, . 1898
114
115
Middle Div.-Reg., 5s
1921
121
1211* 123*2
C. St. L. & N. O.—Ten. 1., 7S.1897 117
121
120
1st, consol., 7s
1897
120
117
2d, 6s
1907
BurL Ce. Rap. & No.—let, 5s. 1906
CodboI. & col. tr, 5b
Bid.
Erie—1st, extended, 7s
2d, extended, 5s
3d, extended, 4*28
4th, extended, 5s
5th, 7s
1st, cons., fd. coup., 7s
Reorg., 1st lien, 6s
(Stock Exchange Prices.)
...1920
1911
Collateral Trust, 5s
.1937
Beecn Creek—1st gold, 4e
1936
Balt. & Ofiio—1st os, Park B ..1919
5b, gold
1925
Boat. H. Tun. & W.—Deb. 5s...1913
BrooklynElev.—let, G., 68...1924
2d, 3-5s
1915
FRIDAY OF INACTIVE RAILROAD BONDS.
SECURITIES.
Ask.
678
CHRONICLE
Income Bonds.
112
104
115*2
98*2
106
99
38%
109
105
105% 106%
116
100
......
80
103*2
86
88
96*2
1937
21
(Interest payable if earned.)
Div
1922
Ind.Dec.A West, income.
98
Mil. Lake Sh. & W.—Income
27
Mobile & Ohio—2dpref. deben
Atl. <fe Pac.—Cen.
109
73
3d pref. debentures
4th pref. debentures
N.Y. L. E. <fc West.—Inc.,
24*2
22*2
6s.. 1977
100
29*2
26
25
-
874
~
>v
^
THE CHRONICLE.
New York City Bank Statement for the week ending May
as follows.
We omit two ciphers (00) in all cases.
SECURITIES.
19,1888, is
Capital. Surplus.
America
Phenix
City
Tradesmen’s
600.0
1,0< 0,0
300,0
200,0
200,0
600,0
300,0
1.200,0
6,0 0,0
5,000,0
Broadway
Republic
North America
Hanover.
Irving
Citizens’
Nassau
Market A Fulton
8t. Nicholas
Shoe A Leather
Exchange
772.3
491.1
217.7
321.6
969.1
263.4
600,0
365,9
600,0
750.0
500,0
500,0
163.7
623,0
212.8
237.1
1,071,8
283.1
336.7
3.678.1
300,0
1,600,0
2,000,0
Park
North River
East River
Eourth National
Central National
Second National
Ninth National
First National
Third National
N. Y. Nat l Exchange
450,0
200,0
7(0,0
1,000 0
500,0
1,000,0
1,000,0
Continental
Oriental
Importers’ A Traders’
1,799,0
300,0
750,0
600,0
101.5
121.2
1.395.1
5(7,5
194.5
263.7
5.611.1
1,000,0
214.7
300,0
250,0
200,0
7 50,0
116.7
^36 <,3
67,0
195.8
496.1
240,0
250,0
3,200,0
2,000,0
Bowery
New York County....
German-American....
Ckase National
FALh Avenue
600,0
German Exchange...
Germania
United States
Lincoln
Garfield.-.
Fifth National
Bank of the Metrop..
West Pide
Beaboard
Blxth National
Western National....
Total
$
$
$
$
010,0
3,271,0
1.838.3
1,0* 0,0
3,084,0
785,0
7.416.7
447.4
7,848,2
517,0
1.509.7
1,120,0
e6<>,8
4
836.2
125.1
508 0
114.5
267,4
2.667.2
7;2o<\9
8,798,0
1J ,6u0,d
3,589,0
9,382,2
2.713.4
618.3
8 J.9
1,500,0
Chatham
Peoples'
Deposits.
790,0
472.3
1.465.6
3.214.9
1.546.7
663.2
300.3
1,000,0
1,000,0
422,7
Mercantile
Pacific
Legals.
10,6:0,0
8,773,0
617.5
2,279,0
233.7
6,557,0
141,0
1,209,0
282,2
138.5
76,9
300.0
American Exchange..
Commerce
Specie.
1.549.9
1,112,7
1,674,2
1.314.9
1,000,0
Chemical
Merchants’ Exch’nge
Gallatin National
Butchers’ & Drovers'.
Mechanics’ A Trade t s
Greenwich
Leather ManufaotTs.
Bevenrh National
State of New York...
Loans.
$
2,bfi0,0
2,000,0
2,90'.*,0
3,000,0
1,000,0
Merchants’
Mechanics’
638.4
362.5
100,0
200,0
20o,0
500.0
351.9
499,7
300,0
164.6
200.0
203.1
150,0
300,0
200,0
237.3
500,0
200,0
130.2
3,560,0
170.9
411,5
185,0
7 0 1
3
18,365.4
3.337.5
4.963.1
2.220.5
1,977,0
124,0
108.5
685.4
459.7
514.2
4,194 0
5.696.7
788.8
1,U>4,S
3.208.4
1.283.5
3,540,0
14,403,0
17.323.3
5.380.8
7.675.4
2.454.6
9,077,0
4.421,0
1.868.2
2.740.4
11.807.7
2,774,0
2,56*',4
2,44 0.9
4,286 5
1,74 6,2
17.443.7
6,946,0
3,411,0
4,539,0
20.871.5
4.678.9
1.483.7
2.665.9
7,464,0
3.825.7
2.651.9
2,544,0
3.900.8
2.667.4
2,288,1
1.500.5
3,0’4,6
1.974.1
2.023,2
1.790.1
8.979.3
3.075.7
14 9*8,0
15,4*6,3
507,0
137.4
3 0,8
947.4
190.2
242,0
413.9
900.4
273.1
230,0
549,0
1,213,0
112.2
295,0
280,0
1,008,6
888.3
820,1
2.075.5
l:-6,5
4.622.8
3,003,7 3.352.9
19 ,7
183,0
195.4
279.2
2,802,1 1,583.4
8’.6,0 •1,094,0
997,0
304,0
474,0
1,183 0
4.171.9 1,320,7
45 6,5
882.9
943.9
2.696.3
1.45 1,8
323.8
'
West
1.141.7
385.4
73 \S
7 45,8
Sunlmry A Lewiston
21.451.6
2,502,0
875.3
612.7
626.2
3,940 9
767.8
666.5
1< 2,3
16 108,7
2 501 6
2.400.7
660,0
300.1
1.437.4
909.1
119.9
147.1
1,129,1
717.4
219.5
139.7
2 285,6
*89,4
7,615.0
90,1
3.915.4
415.3
3,026.5
610.3
425.9
89*2,0
218,0
208.3
30-,8
8,189,0
2,*12,9
4.242.5
3.190.8
2.857.9
1,850.0
4.422,0
418.4
217,0
2.303.2
287.6
511,0
1,721,0
301.6
128,0
1,084,8
2.731,7
2.201.4
8.404.2
371,0
121.3
164.1
Loans.
Specie.
$
$
141.618,700 10,422,600
141,877,300 10,7 J 0.200
142.447,500 ll.t 89,600
L. T’nders.
Deposits.* Circula’n.
6,480.400 107,624,86 9
6.315.600
88.749.78
3,171,500 113,931,660
6,150,700
84,876,606
$
Philadelphia Banks.—The totals have been
-
6....
12....
“
Lawful
Loans.
$
90.0 <4.600
89.655.100
89,562,400
•Including the it.
m
25,354.700
26,266,200
“du*
to
Following
Deposits.*
$
follows
Circula’n
a
:
Agg.Cl’ngs
$
$
88,818,100
2.725,100
89,0 >8,300
90,384,866
2.723.360
2,725,266
64,787,375
56.241,805
6a, 031,3^7
Philadelphia and Baltimorf:
are quotations of active stocks and bonds.
A full
given in the Chronicle the third Saturday of each month.
Bid.
securities.
Asa.
SECURITIES.
Bid.
Ask.
Atch. A T’p’a.—(Cont’d)—
BOSTON.
Plain, 5s.
91
RAILROAD STOCKS.t
Mortgage, 5s
Atchison dr Toj eka
87*4 87
Trust, 6s
1*07*4
Boston A Albany
200 *y
Burl. A Mo. R. in Neb.—
Heston <fe Lowell
163
164
116
Exempt, 6s
Boston A Maine
211
2llia
Non exempt, 6s
1C 5
Boston A Providence.... 2b 4 H 2.45
Land gi ant, 7s
11H
California Southern
40
a 3H
California South.—1st, 6s. 112*8
Central of Massachusetts
21
21ia
Income, 6s
89 *2
Preferred
i 41
Consol, ot Vermont—5s..
87
Cheshire, pref
Eastern, Mass.—6 ^ new..
L 2*6 * *
fjhic. Burl. A North’ll
54
<. C. Fort Scott A G.—7e
*115*
40
Chicago A West. Mich...
Kans. City Law.A So.—6s
Cleveland & Canton
K.C. Memph. A Birm—5s
94*2 94*4
Preferred
3*6' Kan. Cit. tot. Jo.dC. B.—7s 120 122
Detioit Lansing & North.
K. City top’d A Mem.—6s 5112*8 113*8
Preferred
K.C. Clint. A Spring!.—5s
Xastern
124
123
Little R. A Ft. 8.—7s
107
Preferred
128
Lonisv.Ev.ASt.L.—1st, 6s 104 105
Pitch burg, pref
90
89 34
2d mort., 2-6s
5
65*3
Hint * Pere Marquette.
42
42*4 Mar. H. A Ont.—1908, 6s, 100
Preferred
168
95
1923,6s
Pans. City Clint. & Spr’g.
Mexican Central—4s
6"< *s 67*4
Man. City Ft. s. A Gull ..|
77
Income
19 -j
20*3
Preferred
N Y. A N. Eng.—1st, 7s.. 123 *s 124
X. C. Memph. & Birm.
i 42
1st mort., 6s
115
Kan. C. Springf. A Mem.
78
2d mort., 6s
106
Little Rook A Ft. Smith..
Ogdens. A L.C.—Cons., 6s
99
Louisville Evans. & St. L.
12
Rutland—os
95
Preferred
Southern Kansas—os
98
Maine Central
Texas Division—5s
94
95
Mexioan Central
15
Incomes
14-\
96
N.Y. A N. Eng., pref
122
Wiscon. Ceut.—1st M., 5s
*90 ’
Northern
Income 5s
$uo
40
Norwich A Worcester....
PHILADELPHIA.
Old Colour
169 »i 170
RAILROAD STOCKS. 1
Vermont A Mass
Bell’s Gap
44*a
Wisconsin CeL trai
18
Camden a At’antic, pref. 5 40
Preferred
37
Delaware A Bound brook
160
BONDS.
East
53
64*3
Pennsylvania
Ateh. A Topeka—1st, 7s. 121
Elmira A Williamsport..
41
Coll Trnf>t. 5*
05 «h
9S
Preferred
64
♦Ex-uiviuenu.
t Per share.
{ Last price this week.
-
..
U’5**|
101*4
......
122
BALTIMORE.
RAILROAD STOCKS.!
90
1st pref
2d pref
Central Ohio
Pieferreil
Northern Central
.....
122
100
$120
115
......
116
45
50
50
*83
......
114
Wi'm’gton Col. A Aug’sta i
RAILROAD BONUS.
Atlanta A Char.—1st, 7s.
I
.
12034 121*a
Income, 6s
Raltimore A Ohio—4s.
101*8 lUl 34
Cape Fear A 5 ad. - 1st, 6s
1404 Cent Ohio—6s, 1890
Char. Col. A Aug.—1st, 7s
.....
C
......
i*2934
Conp., 68, coup... 1905..
Coup., 5s, coup...1919.
o.
Wash. A Bait.—lbta.
98
97*2
103 7e 104
'
993*
112
......
74
2 Is, 5s
130*2 1
122
.....
4*28, Trust Loau
Ex-dividend.
1st, Inc., 5s, 1931
38*2
16
15
Seab’dARo'n’ke—5s, 1926 4
Canton*, 6s...
1 West. Md., 3d guar., 6s.. 119
110*2
...»
......
t Per share,
*U6
lU5*i 105 *2
......
Peun.~Gen.,6s,coup.l910
*
21
121
98*2 J 99*a |
1
Income, 6s
1 Union feud
......
......
120
i Last price this week.
New York Local Securities.
Bank Stock List.
BANKS.
Bid.
America
174
Am. Exch... 138
Asbury Park
......
Broauway... 260
Butchs’A Dr 166
Central
Otaae
230
Chatham.... 230
Chemical.... 3400
Citizens’.... 140
320
City
...-
..
«
•
..
Ask.
215
250
114
200
120
Manover.... 190
[m. A Trad’s’ 340
....
3 800
......
355
138
City Railroad
GAS COMPANIES.
Bid.
Brooklyn Gas-Light
Gas-Light
Bonds, 5s
Citizens’
Consolidated Gas
Jersey City A Hoboken...
Metropolitan—Bonds
Matnal (N. Y.)
Bonds, 6s
Nissan (Bklyn.)
Ask.
I Ask.
103
54
100
74
165
114
90
100
100
97
105
56
103
74 *9
165
...
12*2
155
ek
218
200
125
140
130
135
135
188
160
165
185
143
167
175
Phenix...... 134*2 13S*»
150
Republic ... 144
St. Nicholas. 112
115
Seventh
120
Second
300
ShoeALeath 143
Stateof N.Y. 114
iao
Pradeamen’s 105
106
Jnited St’es 210
..
.
142
124
Htocks and
Bonds.
GAS COMPANIES.
P'Hiple’s (Bklyn.)
Williamsburg
Bonds, 6s
Metropolitan (Bklyn.)
Municipal—Bonds, 7s
Fulton
92
102
105
100
view York
f.Y. Countv
*.Y. Nat.Ex
'linth
tf. America.
forth Riv*r.
Oriental
Pacific..
Park
People’s.
A
Bid.
....
ies
Mechanics’.
M’chs’ATrs’ 155
Mercantile.. 145
Mercnants ’.
M’rch’ts’Ex. 117
10
Metropollt’n
Metropolis... 235
Nassau
152
......
Gas and
150
rving
Leather Mf*’ 199
Manha’-tan.. 160
Market
170
BANKS.
..
I
..
Fourth
..
..
175
132
.
Bid.
Gallatin
Garfield
Genn’n Am..
Germania.
Greenwich
Commerce
168*2 1*70
Continental. 126
131
Corn Exch...
204
East River.. 130
11th Ward.. 150
Elfth Ave... 800
First
2000
BANKS.
Ask.
176
140
110
Scrip
other hanks.”
Ooorations in Boston,
list is
Mon’y
$
24,770,100
as
$
•
104
111
102
120
140
132
117
77*a
73
124
90
2d, 7a, reg.^1910
Cons. 6s, C.*A R., 1923..
North Penn.—1st M., 7s.
73*2
West J
......
116
131
120
84 *o
98
.....
111*-.!
Mid.—1st, 6s.
...
83
97
Phil. W. A Balt.—Tr. o..4s
Warren A Frank.—1st,7s
102*4
Leu. V.—lst,6s,C.AR.,'9p
Agg.Cl’nga
$
$
3.101,000 112.097,700
3,140.200 113.013.400
23
.
111
122
114*4
116*2
ersey—1st M., 7s..
W. Jersey A Atl.—1st, 6s
---
21
1(9
Del.ABd.B.—1st, 78.1905
19 491,3
151.0
......
Delaware-Mort., 6s
2.278.7
1.499.8
17.413.5
7.4 56,0
4,318,0
5,074.0
145.7
......
121
21.802.7
482.1
115
Tno.7s. end., coup., ’94.
Bells Gap—Cons., 6s
Cam. A Amb.-M., 6s, ’89
Camden A Atl.—1st M., 7s
Catawissa—M. 7s, 1900.
Clearfield A Jeff.—1st. 6s
120-
18
RAILROAD BONDS.
Allegh. Val—7 3-10*. ’86
7s, E. ext., 1910
N.Y. Phil. ANorf —1st,6s
281,1
31
49
59*2
1.531.1
100
Gen., 7s, coup., 1908
Tneome~7a, coup., 18PB
Cons, f s, 1st ser., 1922.
Cons. 5s, 2d ser.,e„ 1933
Debenture coup., 1893.
2i4
Jersey
Elmira A Will’m.—1st, 6s
Harris. P. M’t J. A L.—4s
Hunt’ll A B. T.—1st, 7s..
2d mortg., 7s
Consol. M., 6s
4.791.8
1.369.3
52*4
28*2
Ask.
103
121
111
132
Tmp., 6«, g., ftonp., 1897
Gen., 6s, g., coup., 1908
15
......
4.740.3
7,8* 5,0
3.042,9
9.373.3
4.7V5.1
2.774.7
3 442,0
13.856.4
3.025,0
3.157.6
2.824.1
4,099,3
3,342,0
6.445.1
5.447.1
2,040,1
22,777,9
Perkiomen—lflt,6s.cp.’87
XLV1*
Bid.
_
United Co’s of N. J
Col. A Cin.
SECURITIES.
62
64
53*2
Noitnern Central
North Pennsylvania
80*2
New York Pliil. A Norf.. i
Pennsylvania
62*2
Phil. A Erie
Phila. A Reading
30 7a
3.969.5
81,2
247.9
2,2; 6.0
1.613.9
487.7
1.939.4
2.433.7
2,316,5,
3,180.0
964.0
212 8
885.7
620,6
1.367.4
3.169,0
6,776,0
4.208.2
2,0 ^0,2
19.360.4
17,125,1
1.968.2
1,334,0
921,0
936.9
993,0
613.1
2 >0,0
[
!
S934 Penn. AN. Y. Can.—7s,’ 96
Phila. A Erio 1st M., 7s.
Phil. A R.—1st M., 6s
2d, 7s, ft. A r. 1893
54
Cons., 7a, coup., 1911
83
Conn., 6«, g., I.R.C.1911
62
Nesquehoning Valley....
Boston Banks.—Following are the totals of the Boston bctnks:
May
17
Lehigh Valley
Little Schuylkill
11,500,0
10,357,0
8.191.1
7,517,0
11,206,0
60,762,7 60,381,5 361,768,4 89,490,1 36.070,3 391,420,2
1888.
Ask.
Mineliill A S. Haven
$
2.000.0
Bank of New York...
Manhattan Co
1888
Bid.
Hnn’ington A Broad Top
Preferred
BANK’S.
(00* omitted.)
Corn
[VOL
Bid.
70
120
106
80
105
Municipal
Bonds, 6s
Equitable
Bonds, 6s..
Ask
72
123
111
82
lift
132
134
105
105
109
no
no
118
[City HR. Quotations by H. L. Gbant, Broker, 145 Broadway.]
B
oxertot.A Pult.F.—stk.
26
l
1st mort..
111
7s, 1900
Br’dway A 7 th A v.—St’k.. 160
1st mort., 5s, 1904
102
28
1112*2
180
104
101
ICO
95
11 5
110
225
2d mort., 5s, 1914
103
85
85
...
112
106
212
1st mort., 7s. 1888
100
8ushw’k Av. (Bklnj—St’k 140
C antral Crosstown—Stk.. 150
1st mort., 6s, 1922
116
Gent. Pk. N.A K.Riv.-Stk
82
116
Consol., 7s, 1902
Obrist’ph • r Al Ot.h St—Stk. 120
111
Bonde, 7s, 1898
Dry Dk. E.B.A Bat’y—Stk 146
1st mort-., 7s, 1893
j 107*^
B’way Surface bds.,.1924
Bonds guar., 5s. 1905
Brooklyn City—Stock
1st mort., 58,1902
3klyn. Crosstown—S took.
<
D. D. E. B. A B.— Scrip,
104
150
105
.42d A Gr’r-tl St. F’rv—Stk 210
1st mort., 7s, 1893
no
42d St. Manh. A St. N.Ave 34
Eighth Av.—stock
| scrip, 6s, 1914
6s
1st mort., 6s, 1910
107
160
107*i
220
112
38
108*2 109**
2d mort., income, 6s
55
1 oust. W.St.AP.F’y—Stk. 163
1st mort., 7s, 1894
110
112
75
107
1 at
U>3
mort., 5s, 1910
Sixth Av.—stock
16)
1 st uion., 7s, 1890
1(6
Third Av.—Stuck
218
101
Bonds, 78,1890
Tw mty-third St.—stock.. 225
1st mort., 7s, 1893
no
105
175
no
220
102
230
112
60
Vlnt.h Ave
150
160
120
85
118
125
113
150
109
Saoond Av.—Stock
r08
Unlisted Securities.—Quotations from both Exchanges:
securities.
Bid.
Am. Bank Note Co
j 30
Atch. A Pike’s P’k, 1st 6s;10j
Atlan. A Char.—Stock...; 85
All. A Char. Air L., 1st, 7s; 122
Bost.H.T.A West.—Stk
l
Ask,
35
90
124
SECURITIES.
Keely Motor
Lehigh A Wilkes. Coal...
Mahoning Coal R.R.
Bid.
3
15
37
88
21
Aak
17
40
Pref
Mex. Nat.Construct’n Co.
25
Mexican National tr. rec.
634
7*3
1st mortgage, tr. rec
50
39**
Pref
100
New 1st 6s
101
99
Chic. Burl. A No.—Stock
50
N. Y. W. to. A Butt
2
3
j 44
N. Y. A Green'd Lake, 1st
Chesap. <s Ohio—Rece ptsi
6
25
l»t pref—Receipts
2d
mort
8*3
I 73<
5
2d pref—Receipts
!
7** New Jersey A N. Y'.—1st. 100
Clue. A Atl.—Beu„ tr rec. j
5
<
N. J. Southern
3**
6e
Chic. Gas Trust
35
30
;Ocean Steam.Co.,1st guar. 103
105
Continental Cons. Co
45
40
;Port
Royal
A Aug.— is’t... 100
Den. A Rio Gr. W.—tot’k.
10
11*3 i incomes
33
Dul. S. Shore A At.— Stk.
8
6
Rich. York Riv. A dies.,
90
Pref
25
20
tot. Joseph A Grand lsl...
11
14
East A West RR. of Ala.
29
St. Louis A Ch.eago
12
Fla. R’y A Nav. Co
*8 I Pref
40
Pref
** 'St. Paul E.A Ur.Tr., 1st 6s 93
15
12
Tol. A. A. A N. Mich
Georgia Pac.—Stock
25*'
1st 6s
109
108
To.edo Peoria A West...
16
20 }
2ds
47
1st. 4s
7*
Hemleis n Bridge—St’k.
100
Vicksh. a Meridian—1st.
90
Kanawha <sc Ohio
3
2d mort
40
1st pref
Incomes
6*2
7*3
2d pref
1
Stock, common
34
1st 6s
65
St ck, pref
1
l*a
Kan. City A Omaha
9
Western in at. Bank
94
96
1st mort
81
83
West N. Car.—Con. M
85
38
Brooklyn Elev’d—stock
Brooklyn A Montauk....
■
MA.Y
THE CHRONICLE.
26, 1888.]
675
Latest
Weekor Mo\
AND
H&ilrxr&d Intelligence.
The Investors’ Supplement, a pamphlet of 132 pages,
contains extended tables of the Funded Debt of States and
Cities and of the Stocks and Bonds of Railroads and other
Companies. It is published on the last Saturday of every
ether month—viz., January, March, May, July, Septem¬
ber and November, and is furnished without extra charge
to all regular subscribers of the Chronicle.
Extra copies
sold to subscribers of the Chronicle at 50 cents each,
and to others at $1 per copy.
are
RAILROAD EARNINGS.
Louis.Ev. ASt.L.
Louisv. A Nashv.
Lou.N. A. A Chic.
Louisv.N.O. AT.
2d
2d
3d
3d
17,655
301,540
41,961
36,935
70,742
6,656
29,663
89,106
5,608
13,193
161,933
67,519
54,735
18.495
118.650
169,174
232,263
10,261
wk May
wk May
wk May
wk May
Lykens Valley.. April
Mar. Col. A No.. March
Memphis AChas. 2d wk May
"Mexican Cent
3d wk May
Guud’jara Br.. 2d wk May
Tampico Div. March
.
*Mex. N. (all Ins)
April
"MexicanRailwy Wg.Apr.21
Mil.L.Sh.AWest. 3d wk May
Milwaukee A No. 3d wkMay
K.CFtSAMem
Jan. 1 to Latest Date.
Roads.
Week or Mo
1888.
1887.
1888.
$
$
$
471,335
3,373,844
173,500
Atch. T. A S. Fe. March..... 1,233,238 1,762,628
111,312
111,971
Atlanta & Char. March
28,702
32,393
Atlanta & W. Pt.. March
.r 9,074
68.317
Atlantic & Pat*.. 2d \vk May
B.AO.East.Lines April..
1,182,461; 1,215,221
371,229! 363,952
Western Lines. April
Allegheny Val.
.
159.830
March
.
.
Color.Midland..
Col. A Cin. Mid
Col.Hock. V. A T.
C.AHoek.C.A. I.
Denv. A Rio Gr
Denv. A R. G. W.
Den. Tex.AGulf.
.
2d wk May
2d wk May
2d wk May
March.
ad wk May
2d wk May
March
30.921
6,7.4
73.274
118,442
150,000
22.275
21,230
9,704
16,279
.
Det.Bay C.AAlp. 2d wk May
Det.Laus’gANo. 3d wk May
Duluth S.S. AAtl. 2d wk May
E.Teuu. Va.AGa, 2d wk viay
24,657
95,63 1
Evans.AInd’plis 2d wk May
3,792
Evansv. A T. H. 2d wk May
14,839
47,898
Flint A P. Marq. 2d wk May
Fla. R. A Nav.Co. 2d wk May
tFtW.A Den.Cty IstwkMay
.
Gr. Rap. A Ind...
Other lines....
Grand Trunk...
Hous.ATex.Cen.
Humest’n AShen
Dl.Cen. (IlLASo)
Cedar F. A Mm.
Dub.ASiouxC.
Ia. Falls A S. C.
Ind. Bloom. A W.
Ind. Dec. A Spr.
Ind. A St. Louis.
Jack. T. A K. W.
KanawliaAOhio
Kan. C. Cl. A Sp.
Kentucky Cent.
2d wk May
2d wk May
2d wk May
Wk May 12
2d wk May
April
April
April
April
April
20,574
16,798
25,789
41,560
3,45.
338,215
50,598
9,500
859,196
6.635
tthwkJan
March
2d wk
May
February.
IstwkMay
IstwkMay'
1st wkMay
April..
2d wk May
2d wk May
..
Keokuk A West.
Kingst’n A Pem.
Knoxv. A-Ohio March
.
Lake E. A West 2d wk May
Lehigh A Hud... April
Leh AWilB.Coal. April
L. Rock A Meru. IstwkMay
$
455,250
116,966
4,311,683
340,287
1«'4,770
978,443
1,039,523
360,762
—
Total
1,553,690 1,579.173
! April
123,009
115,712
Balt. A Potomac April
42,112
Bufl.Roeh. A Pitt 3d wk May
33,938
47,494
41,163
Bur.C.Rap.ANo. 2d wk May
12.545
•L2.499
Cairo V. A Chic. 2d wk May
37,788
Cal. Southern... 2d wk May
28,402
41,949
ICamden A Atl’c April
39,965
222,000
211,000
Canadian Pacific;2d wk May
18,929
22,104
Cp.F’r&Yad. Val April
51.787
Carolina Cent... IMarch
47,636
Cen. RR. A Bg. Co. | Apri l
386,349
470,622
101,828
Central Iowa— (April
89,824
Central of N. J.. March
906,193
995,385
Central Pacific February.. 1,091,243
717,233
Central of 8. C. [March
9,519
7,839
Charlest’n ASavj March
60,417
48.599
Cheshire.
39,261
38,028
{February..
Cheraw & Dari. (March
6,954
7,141
Ches.O. &S.W..(April
127,364
138,578
Eliz.Lex.& B.S March
75,634
81,638
Ches. A Lenoir.. (March
7,368
5,653
Chic. & Atlantic. ;3d wk May
46,953
32,733
Chic. Burl. & No. (March
73,323| 282,393
Chic. Burl. A Q.. March
1,211,188 2,952,682
East.
Chic. A
Ill. [2d wk May
36,586
38,465
Chic. A Ind. Coal 3d wk May
8,320
7,390
Chic. Mil. A St.P.|3d wk May
372,000
411,037
Chic. & N’thw’n. April
1,954,885(1,839,334
Chic. & Oh. Riv. April
4,294
4,503
Chic.St.P. AK.C.1 April
172,711
86,385
Chic. St.P.M.AO. March
500,341
579,735
Chic. A W. Mich. 2d wk May
27.447
27,832
Cin.Ind.St.L.AC. April
201,751
202,743
Cin. Jack. A Mac. 2d wk May
8.356
7,126
Cin. N. O. AT. P. 2d wk May
60,641
56,554
Ala. Gt. South. (2d wk May
24,284
22,1 9
N. Orl. & N. E 2d wk May
13,410
8,958
Vlcksb. A Mer.|2d wk Ma\
6,102
8,143
Vicks. Sh. A P. )2d wk May
5,891
4,677
10*4,203
102,616
Erlanger Syst. 2d wk May
Cin.Rich. AFt. W. 2d wk May
7,181
7,281
Cin. Sel. A Mob.. [March
7,830
7,496
Cin. A Syring’d. April
88,058
90,613
Cin. Wash.ABalt.!2d wk May
36.810
35,3.0
Olev. Akron ACol 1st wk May
10,088
12,209
Clev. A Canton April
32,952
31,843
Clev.Col.C.A Ind April
301,520
317,389
Whole system. [April
540,285
551,824
Clev. A Marietta 2d wk May
4.413
5,238
Coeur d’Alene
March
31,101
Georgia Pacific
1887.
.
-
'
67,455
50,743
52,042
25,424
32,291
57,947
3,418
66,147
3,913
68,737
5,200
3,871
5,122
59,750
453,922
726,885
917,533
245,513
1,035,674
696,761
4,078,722
105,034
573.619
132,401
3,138,793
86,617
150,031
140.C51
2,312,615
432,366
1,972,935
429,904
2,336,494
1,519,403
139,672
2,723,975
2,185,294
31,650
169,098
79,867
24,490
615.729
237,933
23,232
809,529
347,28:2
4,569/ 01
709.201
193,990
7,923,500
7,100,199
14,504
596,901
1,264,156
477,955
821,941
161,418
5.677
3,771
19,924
689,500
10.543
11,249
23,740
549,969
226,709
17,766
791,656
621,503
6,785,302
691,622
140,018
8,426,380
7,531,470
22,109
350,377
1,320,227
479.620
850.294
14 V358
241,694
189,450
185,896
2,293,212
141,718
25,988
429,333
105,903
926,174
349,846
420,112
65,787
157,607
343,840
346,734
38,665
34,012
53,912
3,216
79,842
3,342
77,399
149,375
82,956
310.730
175,060
183,217
2,170.019
147,486
27,584
358,581
739,067
199,117
115,701
1,265,432
2,261,062
96,978
17,400
14,873
14,012
20,715
41,275
2,727
359,464
33,135
10,494
793,761
10,046
59,729
43,778
58,962
24,147
1,146,003
530,170
2,645,684
9,913
22,237
32,361
82,808
3,303
16,860
50,737
19,145
247.926
1,244,601
556,412
142,300
35,502
30,518
20,269
698,6^6
38,823
33,236
480,176
694,059
344,488
749,176
179,983
111,072
1,303,820
2,297,491
113,617
108,682
1,000,218
43.835
141,645
406,605
273,630
1,974,102
1,759,831
77,905
293,461
916,923
411,500
276,678
454,199
771.882
70,476
80,338
285.555
914,973
406,640
206,209
5,733,827
765,916
45,661
3,571,382
25,732
271,468
243,142
187,365
77,627
697,250
107,196
84,770
1,399,040
83,783
289,124
112,377
59,203
123,677
660,418
384,745
Oregon Imp. Co February..
558.733
Oreg. R. AN. Co. March
Pennsylvania... April
4;650,045
Peoria Dec. AEv. 2d wk Apr
11.375
Phila. A Erie
Phila. A Read’g.
Coal A Iron Co.
Tot. both Co’s..
Pitts. A West’m.
...
March..'...
March
386,155
774,748
48,511
6,334,815
794,742
47,131
3,544,112
36,031
246,478
1,582,493
88,875
286,049
110,230
45,552
110.453
86,215
2,2S6,609
5,733
155,126
29,221
738,454
16,120
592,885
74,468
70,715
1,252,939
1,163,180
789,763
978.244
16,925
36',08'
346.138
133,067
154,407
222,720
10,536
67,588
414,645
785,422
516.349
780,388
960,008
52,965
161,962
34 *,401
1,009,037
51,589
175,603
10,901,573 10,991,091
6,068,882
5,933,030
1,156,932
1,152,401
557,423
126,341
492,716
1,729,098
194,577
1,819,887
5,207,453
1,304,582
129,121
198,100
2,031.516
3,913,781
1,440,368
87,377
195,950
37,542
43,508
30,904
46,641
46,005
175,367
170,015
93,400
85,025
34,850
11,775
8,100
1,787,613
1,543,492
606,982
347,288
536,705
302,710
208,455
241,020
33,515
15,850
2,862,852
640,337
35,450
13,850
9,400
15,275
2,500
14,475
2,200
243,037
239,329
38,193
1,600
900
37,974
171,475
251,661
157,325
3,196,210
254,121
34,012
13,431
39,271
101,738
32,190
688,166
697,250
322,946
949.538
32,291
15,210
47,517
3,439,350
8,288,011
718,725
110,514
92,080-
718,550
425,57 2
321,542
771,130
2,065.177
460.119
686,658
2,584,524
2,260,521
67,111
316,706
158,888
74,791
March
349,305
Louis’a West.. March
90,150
480,947
Morgan’s LAT. March
N. Y.T.AMex. March
7,750
Tex. AN. Orl.. March
137,685
Atlau’c system March
1,065,836
Pacific system March
2,827,054
Total of all.. March
3,892,890
9,667
Spar. Uu. A Col March
Staten Is. Rap. Ti Vpril
53.994
Summit Branch
102,692
April
Texas A Pacific 3d wk May
106,656
Tol.A.A.AN.M’i hi wk May
11,568
^d wk May
Tol. A Ohio Cent
19,106
Tol. P. A West.
id wk May
16,549
Union Pacific..
March
2,513,108
54,038
Vpril
Valley of Ohio.
Wab. Western.
hi wk May
102,000
500,62*
Wab., E. of Mis March....
March
Western of Ala
35,246
WestN. Y. A Pa. Jd wk May
52,600
252,353
66,374
331,723
12,061
102,896
51,856
65,088
1,917,901
170,345
244,562
458,992
938.970
227,424
1,371,440
23,437
340,251
765,407 2,901,518
2,270,408 7,700,927
3,035,814 10,602,446
5,445
52,450
101,458
83,104
8,596
16,565
17,521
2,571,365
52,156
113,000
250,789
401,590
698,240
181,365
997,954
31,879
266,987
2,176,423
5,602,092
7,778.515
29,551
20.550
178,015
479,298
363,748
2,116,369
187,881
366,476
316,085
5,984,632
198,083
2,209,907
1,517,149
2,273,081
226,697
434,866
306,670
6,158,878
201,373
1,940,034
1,385,277
136,109
114,901
W. V.Cen. APitts.
52,297
30,328
387,543
171,682
11.980
337.801
aWisconsin Cen
16,567
75,857
67,276
65,617
54.981
178,102
142,758
181.332
595,164
37,026
47,5/0
100,372
..
1,349,966
168,251
1,694,915
76,294
3d wk May
119.507
402.646
448,926
95,178
232,590
727,624
495,941
972,203
457,103 1,276,578
4,342,834 17,750,040 16,593,825
13,173
326,297
772,842
843.849
1,759,584 3,615,905 4,848,661
April
IWest Jersey.... April
April
Wheeling A L. E. 3d wk May
Wil. Col. A Aug March.
770,719
762,321
191,604
912,894
11,480
584,419
1,832,230
April
1,039,529
236,715
123,305
935,378
355,457
109,093
272,673
205,054
1,279,5331 1,208.648
t And branches.
* Mexican currency.
II Including Indianapolis A St. Louis.
a Ail lines mcluded.
t Construction earnings
in April $731, against $13,361 last year.
Latest Gross Earnings by Weeks.—The latest weekly
earnings in the foregoing table are separately summed up
as
follows:
Reports of earnings continue very good. For the second
week of May the gain amounts to 6-14 per cent on 75 roads.
2 (l week
of May.
1888.
$
196.688
202,600
109,137
718.556
111,488
41,769
5,47i‘,6(H>
5,310,821
639.668
114,877
104,179
39,467
March
5,608,324
742,682
21,886
607,310
88,300
26,736
810,359
20,917
52,706
60,908
65,000
Seab’rd A Roan.
Shenandoah Val.
South Carolina..
So. Pacific Co.—
Gal.Har.AS.A.
740,649
277.046
1,579,308
1,078,644 1,283,579
P’rtRoyal A Aug. IMarch
USt.L.Alt. AT.H. 2d wk May
Branches
;2d wk May
St.L. Ark. A Tex. 3d wk May
St. L. A San Fran. 3d wk May
St.Paul A Duluth 3d wk May
St.P.Min. AMan. April
S.Ant.AAr.Pass. 2d wk May
Scioto Valley.... March
$
769,942
53,272
4.267
29.714
March
March
2,657,952 3,043,163
3d wk May
34,280
36,902
Pt. R’al A W.Car. March
Rich. A Allegh’y. April
RAW.P.Ter. Co—1
Rich. A Danv. 2d wkMay
Va. Mid. Div.. 2d wkMay
C. C. A A. Div. 2d wk May
Col. A Gr. Div. 2d wk May
West. N. C. Div 2d wk May
W. O. A W.Div. 2d wk May
Ash. ASp. Div. 2d wk May
Total all.... 2d wk May
Rome W. A Og.. March
1887.
$
231,206
20,390
286,390
42,132
25,358
Mobile A Ohio
April
Nash. Ch. ASt.L. April
Natchez Jac.AC. April
New Brunswick. March
74.495
N.Y. Cen. AH.RJApril
2,748,777 2,901,740
N.Y. L.E. A W.. March
2,130,419 2,121,305
N.Y. A New Eng.'March
378,440
430,097
N. Y. A Northern 3d wk May
11,555
11,949
N.Y. Ont, AW...!3d wk May
32,677
27,995
N.Y. Phila. A N’k March
46,838
45,869
N.Y.Sus. A W...i April
106,381
107,171
Norfolk A West. (2d wk May
86,346
102,994
N’theastrn (S.C.) March
66,964
55,594!
Northern Cent’l.!April..
513,560
486,614
Northern Pacific 3d wk May
319,784
225,347j
Ohio A Miss
2d wk May
73,010
76,124
Ohio River.
:2d wk MayT
7,961
7,399
Ohio Southern. i April
36,751
45,090
Omaha A St. L.. March
32.589
....
2,679,355
333,641
1888.
$
251,749
..
Gross Earning’S to Latest Dates.—The latest railroad earn¬
ings and the totals from Jan. 1 to latest date are given below
for all the railroad companies whose reports can be obtained.
Earnings Reported.
1887.
April..
Minneap. A St. L. April
Latest
1888.
$
Long Island
Jan. 1 to Latest Date,
Earnings Reported.
Roads,
Pr^v’ly report'd (25 roads)
Atlantic. A Pacific
Buffalo Roch. A Pittsburg.
Burl. C. R. A Northern..
California Southern
Chicago A East. Ills
Chicago A West Mich
Cincinnati Jack. A Mack.
Ciu. N. O. A Texas Pac...
Alabama Gt. Southern..
New Orleans A N. E
67,650
703,080
81,987
Vicksburg A Meridian..
VicksburgShrev. A Pac.
Cin. Rich. A F. W
261,073
281,292
Cin. Wash. A. Balt
2,003,407
59,074
33,570
41,163
37,788
38.465
27,832
1887.
$
1,825,969
68,317
42,111
47,494
28,402
36,586
Decrease,
Increase.
$
$
248,596
8,541
6,331
9,386
1,879
27,447
385
8.-56
7,126
60,641
22,159
13,410
6,102
5,891
56.554
1,230
4,087
7,281
36,810
24,284
8,958
8,143
4,677
7,181
35,320
71,158
9,243
-
•
........
........
«
-
••••••A
2,125
4,452
2,041
1,214
100
1.490
........
676
IHK
2d week of
1888.
May.
$
4.413
22.275
Det. Bay City & Alpena..!
20,715
3,792'
14,839
47,898!
41,560
3,452
5,200
3,871
33,236
17,655
...
Lake Erie & Western
Louisv. Evans. A St. L...
Louisville A Nashville....
Louisville N. Alb. & Chic.
38,197
29,668
102,994
73,010
7,961
93,400
35,450
13,850
9,400
....
Virginia Mid. Div
Char. C. & A. Div
Col. A Gr. Div
West North Car. Div
Wash. O. A W. Div
Ash. & Spar. Div
iSt. L. Alt. AT. H.,M. Lines
St. L. Alt. A T.H..branches
St. Louis Ark. & Texas...
Tol. Peoria & Western
4,875
209
7,704
2,839
17,463
"“Too
2,718
8,375
2,500
1,600
32,291
15,210
2,200
"***477
.Gross.
Net...
’
*3,114
on
Buffalo Roch. A Pittsburg.
33,938
Chicago A Atlantic
Chicago A Ind. Coal
Chicago Mil. & St. Paul...
46,953
8,320
372,000
Denver & Rio G rande
Detroit Laus. & North
Louisville N. Alb A Chic.
Louisville N. O. A Texas.
Mexican Central
Milwaukee L. Sh. A West.
Milwaukee A Northern...
New York A Northern....
New York Out. A West...
150,000
1,808,360
Increase.
Decrease.
$
$
8,174
39,037
.
7,700
5,958
171
11,577
2,891
394
4,682
94,437
2,622
8,246
13,438
■
5,454
.......
23,552
1,972
2,541
47,500
11,980
i 1,000
5,100
4,587
54,981J
12,295
1,708,256
199,316
69,212
ment includes all roads for the latest month and from Janu¬
1, 1888; following that we give the totals for the fiscal
year on those companies whose fiscal year does not correspond
ary
with the calendar year.
-April
82,199
Cin. Ind. St, L. A Chic. Gross.
201,751
Net...
70,610
Cleveland A Canton..Gross.
31,843
Net...
10.488
City A Alp..Gross.
37,108
Northern Central
Pennsylvania
Gross.
Net...
Gross.
Net...
‘Summit
.Gloss.
Net
.
.Gross.
Net.
.
Net...
Wash.
.Gross.
Net...
.Gross.
Net...
32,952
1888.
1887.
1887-8.
$
$
$
470,622
82,199
386,349
5,433,468
2,231,298
830,306
317,163
10,488
9,855
101,531
■April.r-Sept. 1 to
55,614
April.
v
1887.
$
1887.
$
115,712
$
480,176
30,550
134,013
1887-8.
1,608,989
16,637
$
4,699,070'
49,033
33,694
356,279
$
1,893,625*
April 30.-n
1886-7.
$
1,423,640"'
85,201
Covers
was--
REPORTS.
Cleveland Lorain & Wheeling.
(For the year ending December 31,. 1887.)
annual meeting of the Cleveland Lorain &
Wheeling
The
Railroad stockholders
was held in Cleveland
recently. The
following directors were re elected for the ensuing year: Selah
Chamberlain,Worthy S. Streator, E. R. PerkiDs, Oscar Towns¬
end, C. L. Cutter, Cleveland; John Newell, Chicago; H. A*
Kent, New York. Mr. Selah Chamberlain, the President, re¬
in his report:
A dividend of 3 per cent upon
the preferred stock was de¬
and since the close of 1887 your board of direct¬
ors, after a careful consideration of the question, decided it to
be for the best interest of the
property to increase the freight
equipment, and authorized your President to contract for four
hundred coal cars, having a capacity of fifty thousand
pounds
each, and three freight locomotives, to be paid for in cash from
net earnings for 1887 and a portion of the net
earnings of 1888.
Contracts have been made for the
and locomotives for
cars
delivery between May 15 and August 15.
“The Pittsburg & Wheeling Coal Company, in
which you
are all interested, ratably with your
ownership in the shares
of this company, furnished 388,000 tons of traffis to
your rail¬
road in 1887, and at the end of the year showed itself self-
sustaining.”
Earnings, expenses and charges in the
as
follows:
EARNINGS, EXPENSES,
Earnings—
past t wo years were
ETC.
1887.
...
From mail
From express
From miscellaneous.
125.714
1886.
$682,189
112,502
5,911
2,306
12,322
5,598
1,774
$1,102,882
$814,387
21,657
$534,243
22,711
...
...
698,696
120,599
74,258
585,109
329,818
486,614
513,560 1.819,887 2,031,519
173,959
533,228
227,987
868,628
4,650,045 4,342,834 17,750,040 16 593,826
1,552,619 1,350,883 5,407,435 5,381,332
102,692
101,453
479,298
363,748
4,937
7,338
81,217 def. 11,920
70,742
53,272
348,464
191,604
def.8,753 xlf 14,702 def.20,534 def.74,863
63,500
58,900
230,200
228,700
9,793
9,078
32,993
28,915
3,595
2,747
114,901
100,372
387,543
355,457
50,059
36,920
112,058
98,451
24.109
•
Total
453,922
139,908
41,949
139,672
132,401
1,684 def. 18,565 def. 23,842
386,349 2,312,615 1,972,935
55,614
785,597
622,184
202,743
821,941
850,294
76,485
295,702
337,415
32.952
115,701
111K072
9,855
33,177
22,068
32,987
138,396
123,235
14,759
53,748
61,848
689,500
1886-7.
r-Oct. 1 to
,
$
2,249,289"
892,312
307,082
66,278
April 30.-v
•
‘201,502
<g
f—Jan. 1 to April 30.-,
1888.
$
24,640
Camden A Atl. ABrs.Gross.
39,965
Net... def. 3,457
Central of Georgia..Gross.
470,622
Net...
,
1887.
..
.
31.843
2,228,968
Expenses—
MONTH AND CALENDAR TEAR.
Net.
202,743
76,485
'
*
being published here as soon as received,
kept standing from week to week. The first state¬
Leh. A Wilkesb. Coal.Gross.
Net...
201,751
70,610
1886-7.
clared May 11,
returns for each road
Det. Bay
1887-8.
$
Net...
“
100,104
Gross.
Net
$
l'5,980 marked
1,570
16.565
113.000
$
123,009
539,415-
only coal and mining operations.
Charge for steel rails and repairs and renewals of equipment
$27,730 in excess of that for the same month in 1887.
930
9,596
1888.
41,152
1,517,149
-July A to April 30.—,
1887.
$
221,923
*
Net Earnings Monthly to Latest Dates.—The tables follow¬
ing show the latest net earnings reported this week, the
Balt. A Potomac
246,735
Road.
Western N.Y.A Penn.Gross.
144,811
14,220
142,300
22,237
42,132
25,358
86,215
70,715
16,925
11,555
27,995
225,347
34,280
39,271
101,738
32,190
83,104
32,677
319,784
36,902
47,517
88,300
26,736
106,656
11,568
19,106
102,000
52,600
16,567
67,276
Roads.
30,454
1,385,277
253,504
170,035
178,102
the 25 roads that have
Net increase (5-86 p. c.)
but not
17.446
tl03,271
1888.
376.
7,390
411,037
18,495
11,949
Total (25 roads)
Georgia..Gross.
Net...
7,934
$
42,112
32,733
16,279
41,961
36,935
89,106
54,735
Wheeling A Lake Ene....
158,888
$
226,709*
61,593
502,230
447,224
-April.—
"i',779
1887.
$
Wisconsin Central
67,111
595,164
ANNUAL
1888.
Pittsburg A Western
149,562
$
237.933
55,927
t
Including Ind. A St. Louis.
For the third week the increase
thus far reported is 5*86 per cent.
St. Louis Ark. A Texas...
St. Louis A San Fran
St. Paul A Duluth
Texas A Pacific
Toledo A. A. A No. Mich..
Toledo A Ohio Central....
Wabash Western
Western N. Y. A Penn
$
81,638
29,483
208,416
92,628
1888.
Roads.
Cin. Ind. St. L.A Chic. Gross.
Net...
Central of
t
Northern Pacific
•Jan. 1 to Mar. 31.1888.
1887.
500,623
Road.
23ll
May.
17,017
152,317
52,972
52,706
11,011
Cleveland A Canton..Gross.
Net...
ending May 12.
3d week of
$
75,634
**1,460
800
300
700
3,776,319
30,328
10,325
792,77844,950
109,093
34,812
MONTH AND FISCAL YEAR.
2,735
600
900
4,008,155
.Gross.
Net...
2,075
1,300
34,012
13,431
39,272
17,521
16,549
[21,249
46
8,100
52,297
1887.
$
878,229
198,57^
171,682
66,289
33,694
18,951
Apr. 30.—,
$
*
15,1*5*6
“’■562
14,475
Net...
.Gross.
Net...
285
725
85,025
$
201,502
\Gross.
1,429
5,073
16,648
$
221,923
49,033
March. 1888.
1887.
Roads.
2,021
76,124
7,399
-Jan. 1 to
1888.
1887.
-
489
286,390
39,657
29,714
86,346
15.275
Western N.Y. APenn.Gross.
Net...
West Va. Cen. A Pitts.Gross.
Net...
12,826
34,850
11,775
47,206
Total (75 roads)
Wet increase i6T4p. c)...
1,622
20,390
301,540
Memphis <k Charleston...
825
41,275
2,727
359,464
33,135
5,677
3,771
30,518
338,215
50,598
Keokuk & Western
For week
25,788|
24,6571
95,634'
Flint&Pere Marquette..i
Florida Ry. A Nav
Georgia Pacific
Grand Rapids A Ind
Other lines
‘Grand Trunk of Canada.
Houston A Texas Cent...
Kingston* Pembroke
20,574!
17,400
9,913
32,361
82,808
3,303
16,860
50,737
19,145
9,704]
Duluth 8. 8. A Atlantic...!
East Tenn. Va. & Ga
j
Evansville A Indianap
Evansville & T. H
!
*
April.-
Decrease.
Roads.
$
5,238
5,122
6,744'
’
Denver & R. GrandeWe st.;
,
Increase.
fVoL. XL’VT.
1888.
and
Col. & Cff>.
cm. Midland.|
Norfolk * Western
Ohio A Mississippi
Ohio River
Richmond A Danville
1887.
OH RON I <’LB.
operating
expenses
...$736,860
$736,860
$556,954
..$366,021
$257,433
49,000
Balance
$311,021
$208,463The assets and liabilities of the company are as follows:
GENERAL BALANCE SHEET DECEMBER 31, 1687.
Assets.
Cost
of
Liabilities.
road,
depots,
shops and equipment. $6,300,000
Real estate and equip¬
ment to 1886
New equipment, 1887.
Cost of Bellaire branch.
Cost of Martin’s Ferry
branch
Tug Selah Chamberlain
General supplies
Cash assets.
.
Total
'
The
65,117
Common stock
Preferred stock
First mort. C.T.V. A W
Mort. C. L. A W R.R.
Bills audited
105,621
Pay rolls (Dec. 1887).
247,556
Profit and loss
117,662
6,296
30,081
261,467
Total liabilities
$1,000,000
4,600,000
700,000
150,000
23,793
35,243
625,764
$7,134,802
$7,134,802
expenditure for construction of the Bellaire and Martin’s
Ferry branches to Dec. 31, 1887, has been $223,283. One hun¬
dred and fifty bonds, of $1,000 each, at 6 per cent, were sold
at par, on account of said branches, $150,000.
The balance of
cost of said branches, $73,283, has been paid from net
eaminger
of 1886 and 1887,
THE CHRONICLE.
May 96, 1888.1
Concord Railroad.
671!
in order that they might be sent to New York and registered
in the name of the trustees.
Instead, however, of transmit¬
(For the year ending March 31, 1888.)
ting them to New York, Thomas & Co. deposited them with
tbe Colonial Bank as security for an advance.
Some time afterward, Thomas & Co. were
adjudicated bank¬
rupts, and the trustees then learning how the shares had been,
dealt with, brought an action against the
bank, in which they
claimed delivery to them of the certificates, on the
ground tons new 72 pound steel rails were laid on the main line and that Thomas & Co. had no
title to them, and consequently ,
other improvements made. The railroad and property is in could not
convey a title to the bank.
Mr. Justice Kekewicb;
excellent con-dition.
A comparison of the earnings and before whom the action was
first heard, decided in favor of
income account for four years is given below:
the bank, holding that the certificates were negotiable securi¬
EARNINGS AND EXPENSES.
ties, property in which vested in the holder for value ; but this
1884-85.
1885-86.
1886-87.
1887-88.
Earnings from—
judgment has been reversed by the Court of Appeal, which
Passengers
$378,415
$411,534
$381,560
$390,689
has declared the certificates to be non-negotiable
securities,,
673,606
Freight
640,714
703,295
713,247
which
their owner can follow up and claim if he has been
Mail,express, Ac
48,843
49,689
52,018
50,510
wrongfully deprived of them.
Total earnings.
$1,100,864 $1,071,963 $1,166,847 $1,154,446
“The decision,” says the London Economist, “raises in a
Operating expenses..
694,485
619,390
687,372
791,642
very practical way the question whether, if the American,
Net earnings
$406,379
$452,573
$479,475
$362,804 railway companies wish to have the English money market
INCOME ACCOUNT.
open to them, they should not afford greater facilities for
1884-85.
1885-86.
1886-87.
1887-88. registration of English shareholders.
It is quite clear that no
Net earnings
$406,379
$452,573
$479,475
$362,804 outside body—such, for instance, as the English association of
Disbursements—
American Bond and Share-Holders—can
Rentals
thoroughly do the
$113,319
$112,532
$113,005
$39,700
The annual report of this company is mainly statistical.
Two dividends of 5 per cent, aggregating $150,000, were
paid. Value of stock and material on hand, as shown by the
Treasurer’s report, is $157,405 68. Daring the year two new
passenger and two freignt locomotives were purchased ; 1,697
.
Taxes
on
stock
37.755
36.872
37.359
39,168
104,091
150,000
152,314
150,000
178,074
150,000
132,910
$405,165
$1,214
$451,718
$478,438
$1,037
$361,778
Improvements, &o..
Dividends, 10 per cent;.
.
Surplus.
$855
150,000
$1,026
Cleveland Akron 8c Columbus.
work,
“
If, for instance, Thomas & Co. had deposited the shares
with this association, and having received their
certificates,
raised money on, and made away with them, then we take it
that the association would have been liable to the trustees, and
would consequently have had to bear the loss that has fallen
the Colonial Bank, If, however, an association is to be
as that, it must be an association with
very large resources, else it will not command confidence, and
it must cover itself by the charge made for its
service, and
onerous charges are what
holders of non-dividend paying
upon
liable to such losses
(For the fiscal year ended December 31, 1887.)
report ssvs in regard to the funded debt, fixed
charges, &c.:
“At the beginning of the year there had been issued $600,000 first mortgage 6 per cent bonds, out of a total of $1,000,000 authorized issue.
Subsequently, on March 1, 1887, a gen¬
eral mortgage for $1,800,000 was created, bearing 5
per cent
The annual
shares will not bear.
What is needed is that the American
railway companies should themselves provide facilities in
London for registration, and if they are not prepared to do
that they must expect to find this market for their shares a
interest.
Of the bonds to be issued under this
mortgage, good deal narrowed.”
$600,000 were to be applied from time to time in retiring a
—A London cable, May 25, says: The Stock Exchange Com¬
like amount of first mortgage six
per cent bonds; $700,000 mittee to-day, after a very long and exhaustive discussion of
were to be applied toward
the construction of the Dresden the subject, finally resolved to establish a special
department
Branch; and the balance, $500,000. was to be held in reserve for the registry of American shares.
for general purposes. The unissued $400,000 first
mortgage
Cleveland & Canton.—At Canton, O., May 9, the stock¬
bonds were deposited as additional security
under the gen¬ holders held their annual
eral mortgage.
meeting. The old board of directors
Oa March 1, 1887, $340,000 first mortgage 6
per cent binds were retired by conversion into a like amount was re-elected, with the addition ot the following new ones :
of general mortgage 5 per cent bonds, and a premium of 4 Louis Schaefer, Canton ; S. Allen, Dell Roy ; I. H. Taylor,
per cent upon the same, amounting to $13,600, was paid to Carrollton ; A. S. Emery and William Edward, Cleveland,
the holders of the first mortgage bonds so converted. At the The International Trust Company, of Boston, was^chosen to
handle the bonds of the company, the wording of which was
same time a sale was effected of
$700,000 general mortgage 5
per cent bonds, the proceeds to be applied towards the cost of changed so as to make the principal and interest payable in
On November 1, 1887, gold instead of currency. An agreement with the projectors
constructing the Dresden Branch.
$50,000 general mortgage 5 per cent bonds were sold, the pro¬ of the New York & Ohio Railroad to run their road from
ceeds to be applied in payment for new
Greenville, Pa., to Streetsboro, O., a distance of sixty miles,.,
equipment.”
The funded debt at the close of the \ ear 1897 was as fol¬ to connect with the Cleveland & Canton, was approved.
President Blood stated that the net earnings of the road for
the past year were between $120,000 and $130,000; that the
property was daily increasing in value ; and that it was ex¬
pected the gauge would be changed by August. The old
lows:
First mortgage 6 per cent bonds
General mortgage 5 per cent bonds
$240,000
1,090,000
Total
officers, consisting of H. A. Blood, President, W. O.Chapman,
Treasurer, and D. K. Stevens, Secretary, were re-elected by
.$1,330,000
EARNINGS AND EXPENSES.
trom—
Freight
Freight (coal)
1887.
1886.
$277,105
$221,050
50,0i,7
221,943
11,417
21,328
Passenger
27,727
Total gross earnings
expenses
$609,529
$542,915
458,427
412,383
Balance net earnings.
$151,101
$130,532
Express
Miscellaneous
Operating
After paying
remained a net
Colorado Midland.—At the annual meeting of the stock¬
Railroad, held at Colorado
Springs this week, the following board of directors was chosen
53,653
207,073
11,417
22,059
27,660
Mail....
the directors.
holders of the Colorado Midland
for the ensuing year: J. J. Hagerman, Colorado Springs; J..
R. Bask, S. S. Sands. W. D. Sloane, T. E. Jevons, G. C. Allen,
F. F. Thompson and Gordon Norrie of New York; T. M.Davisof
Newport, R. I.; J. A. Hayes, Jr., and H. T. Rogers of Colorado
Springs. President Hagerman tendered his resignation on
account of ill health.
rentals and certain other small charges there
surplus in 1887 of $120,317 applied as follows:
Available balance of income
Columbus & Hocking Talley.—In the Burke suit the
Court of Common Pleas on notice to dissolve injunction held
with the company and against Burke and associates and re¬
fused to dissolve the injunction. The defendant took a writ
of error to the Circuit Court to have the question reviewed in
that Court. The Circuit Court held that it had no jurisdic¬
tion to review the decision.
The Supreme Court now holds
that the Circuit Court had jurisdiction to review the decision
and it sends the case back, to the Circuit Court to be held.
The< e has been no reversal of the Common Pleas decision in
favor of the company.
Application is made for a hearing
$120,317
’CHARGES AGAINST INCOME.
6 per cent on $600,000 1st mortgage
bonds
$36,r00
5 per cent for 2 months on $600,000 1st mort. bonds...
416
4 p. c. discount for convers’n of $340,000 1st mort. bds. 13,600
50,016
Balance
Dividend, l1^ per cent
on
$4,000,000
Balance carried forward
$70,300
common
stock
*
60,000
$10,300
the merits of the
upon
case
in June in the Court of Common
Pleas.
GENERAL INVESTMENT
NEWS.
American Stocks in London.—The decision of the Court
of Appeal in England in the case of Williams vs. The Colonial j
Bank has attracted much attention in financial and stock ex¬
change circles in London. The action arose out of a fraud by
the notorious firm, Thrmas & Co., and the question to be de¬
termined was whether American railway shares with the
transfers signed in blank are or are not negotiable securities.
John Michael Williams, the testator, at the time of his
death, in 1880. was the registered owner of 1,210 shares of the
New York Central Railway Company, which were repre¬
sented by 121 certificates of ten shares each, which had been
intrusted by the executors of a Mr. Williams to Thomas & Co.,
j
Denver & Rio Grande.—At Denver, Col,, May 22, a speciat
meeting of the stockholders of the Denver & Rio Grande
Railroad Company was held and an agreement with the Rock
Island Railroad Company for joint use of the lines of the
company between Pueblo and Denver was ratified by about 90
per cent of the capital stock of the company.
At a regular
meeting of the stockholders subsequently held, a new im¬
provement mortgage at the rate of $5,000 per miie was au¬
thorized, and $3,000,000 of the above bonds were authorized
to be i-sued immediately for the purpose of improvements to
the company’s property.
The following boar l of directors
was elected: George Coppe'l, Robert B. Minturn, Adolph Engler, Richard T. Wilson, New York ; John L. Welch, John J.
!
[ Stbdiger, Philadelphia; David H. Moffat, Walter S. Cheesman,
Joseph M. Gilluly, Denver.
!*S
1
tit
THE CHKONICLE.
678
[Vol. XLVL
The Tiust five per cent bonds are issued at the rate of
Memphis.—The holders of 6 per
$12,000
per mile of completed road in all cases except the
due 1923, are notified that the Fort Scott
Wichita & Western RR. Compauy (the succeeso for
Kansas City Fort Scott & Memphis Railroad Company’s con¬
the St. Louis Fort Scott & Wichita RR. Company), which is at
solidated 6 p°r cent mortgage bonds, due in 1928, -are now
the rate of $15,000 on 311 miles.
ready for delivery in exchange, in conformity with circular of
Kansas City Springfield &
cent first mortgage bonds,
April 26th, 1888.
Kansas City Wyandotte & Northwestern—A map of this
road appears to-day in the Investors’ Supplement. The offi¬
cers of the companv have applied to have the bonds and stock
listed on the New York S:ock Exchange.
The trackage con¬
tract with the Chicago St. Paul & Kansas City Railway,
which obtains its entrance into Kansas C ty and its terminals
there through this road, gives the company a rental applicable
directly to the payment of interest on all bond3 equal to 1 1-10
per cent, and therefore leaves only 3 9-10 per cent to be paid
from earnings.
The email interest charge is in favor of this
road, and the company also owns terminals at K msas City
and Leavenworth, Kan., of much value. The road was com¬
pleted Irom Kansas City to Seneca, Kan., on January 10,
1888, and opened for business February 18. Its April earnings
were $24,000 and May thus far shows large increases.
^ Kentucky Midland.—A dispatch from Paris, Ky., May 23>
says there is every prospect that the Kentucky Midland Railway
Company will begin work on their road in a few days, com¬
mencing at Frankfort, connecting with the Louisville & Nash¬
ville, running through Scott County, tapping the Cincinnati
Southern at Georgetown, and passing through Paris to the
Virginia line. The counties through which it passes have
already subscribed $750,000.
Lehigh Valley.—The Philadelphia Inquirer says that this
company has decided not to build an independent line from
Geneva to Buffalo, but will probably renew its contract with
Erie, with a provision to send a part of the freight via West
Shore. This action is the result of the apathy of the stock¬
holders in taking the $6,000,000 new stock in M.rch. The
plan is postponed until a more favorable time.
Lehigh & Wilkesbarre Coal.—The following is a statement
from this company for the months of April, 18S8 and 1887:
A2^riM888.
receipts
689,499
Mining, tolls & other charges.. 568,900
Grocs
$
74,2' 8 36
464,509 27 255,559 47
Inc
46,341 12
Inc .208,949 80
.
Total profit 4 mos
Int. charge
diva, on incomes.
585,108 75 329,817 83 Inc .255,290 92
Surplus for 4 mos
Deduct for reserve fund
353,296 57
91,695 84
..
104 39
231,812 18 231,707 79 Inc.
98,110 04
75,399 65
Inc .255,186 53
Inc . 16,296 19
Mobile, Ala. The election resulted in the choice of the
following gentlemen as directors for the ensuing year: Calvin
S. Brice, George S. Scott, John G. Moore, Edward R. Bacon,
General Thomas M. Logan, Edward Lauterbach, George F.
Stone, John Greenough, and E. R. Chapman of New York;
and T. C. Bu:k and D. T. Parker of Alabama. The E ist Ten¬
nessee Virginia & Geor/ia acquired control of the property in
March, 1887, by purchase cf a majority of the capital stock,
and operates the line. The East Tennessee guarantees the
held at
principal and interest of the $3,000,000 Mobile & Birmingham
5 per cent bonds.
Mobile & Ohio.—The Farmers’ Loan & Trust Company will
be prepared on and after the 30th iDst. to exchange the Mobile
6 Ohio debentures for the new general mortgage.
Pennsylvania Railroad.—The gross and net earnings for
April, 1887 and 1888, were as below stated. Oa the lines
west of Pittsburg & Erie the net results, after payment of
interest and all charges, is shown in the second table,
LINES EAST OF PITTSBURG
,
been
4,379,455
February
March
April
>
<fc ERIE.
—Net Earnings.
1887.
1888.
$3,851,771 $1,005,920 $1,214,351
1,358,283
1,490,613
1,552,619
3,988,788
4,526,561
4,410,433
4,650,045
4.342,834
LINES WEST OF PITTSBURG
the treasury.
Mexican National.—At a meeting of the Mexican National
bondholders to nominate eight directors, six of them residents
of this country and two of Mexico, to be voted upon under the
1,435,941
1,350,883
& ERIE.
surplus or deficit after payment of charges.
1888.
1887.
Diff. in 1888.
■
Sur.$60,510
Def.123,519
March
Def. 90,276
Sur. $154,951
Sur.
3,475
Sur.
212,702
April
Sur. 49,682
Sur.
January
February.........
Total 4 mos
Def
73,102
Sur. $144,230
103,613
Loss. $94,441
Loss. 126,994
Loss. 302,978
Loss.
23,420
Loss.$547,843
State.—The returns of the fol¬
lowing roads for the quarter ending Mareh 31 have been
filed at Albany as follows:
Railroads in New York
,—V. F. Ont. d West.—*
1887.
1888.
^-Oqds'bg <& L. Cham.—.
1887.
1888.
$134,316
76,398
$108,590
$330,406
93,884
309,220
$57,918
64,040
$14,706
64,418
$21,186
'
meeting of the directors of the
Mexican Central, an increase of capital of $2,000,000 was
voted. About $1,500,000 was to represent stock that had been
borrowed and sold for funds applied to the construction of the
Guadalajara & Tampico division, leaving about $500,000 in
Mexican Central.—At a
1,380,157
$5,407,435 $5,381,332
$17,750,040 $16,593,826
Total 4 mos
surp^is 4 mos....
proposed.
Cross Earnings.
1888
1887.
$4,193,979
January
261,600 73 22,710 39 Inc .238,890 34Louisville & Nashville.—The completion of the Pineville Gross earnings;
extension is announced, running from Corbin, Kentucky, to Operating expenses.
Pineville, in the same State, in a southeasterly direction.
Net earnings....
Plans for further extensions in southeastern Kentucky have Fixed charges
Net
and W. Bond,
Mobile & Birmingham.—The annual meeting of the stock¬
holders of the Mobile & Birmingham Railway Company was
Net
86 698,695 84 Dec. 9,195 98
38 624,437 48 Dec. 55,537 10
120,599 48
Profit for month
Profit previous 3 mos
Martinsen, W. Mertens, H. K. Enos, W. Dowd,
Inc. or Dec.
April, 1887.
$
Missouri Kansas & Texas.—The newly-elected board of
directors of the Missouri Kansas & Texas RR. met on the 24th
inst., and R. V. Martinsen was elected President. The Execu¬
tive Committee appointed consisted of Simon Sterne, R. V.
Deficit
$6,122
$19,710
«
$286,538
261,111
63,805
$25,427
57,264
$12,619
$31,837
Scioto Valley.—The application of the first mortgage bond¬
holders for foreclosure is delayed by legal obstructions, but
the committee are sanguine of ultimate success in their efforts
to maintain their rights under their priority lien.
The earnings for 1887 are encouraging, and were as follows :
earnings
Operating expenses
Gross
$78^,123
585,756
Net earnings
$203,367
reorganization agreement trust at the meeting at C lorado
Of these earnings $183,328 have, by order of the court, been
Springs, June 6, the following names were selected: William
G. Raoul, Jcsiah A. Horsey, Arnold Marino, George Coppell, expended upon the road, making its track now all steel, sub¬
Lloyd Aspinwall, Jr., Eckstein Norton, Emilio Valasco and stituting iron bridges and masonry culverts for wooden, fill¬
ing or re-building trestles, renewing ties, &c., &c. The bond¬
Manuel Saavedra.
holders’ committee is a strong one and they will, no doubt, ac¬
Missouri Pacific.—The application of this company to the
complish
whatever is possible.
Stock Exchange to list its Trust bonds contains the following :
Seaboard
& Roanoke.—At the annual meeting in Ports¬
The Missoun Pacific Railway Company hereby makes applica¬
mouth,
Va,,
May
8, President Robinson read the report for the
tion to have $14,376,000 of its Trust five per cent bonds, Nos.
ending
February
29ih last: Grots receipts, $714,101; ex¬
year
1 to 14,376, inclusive, placed on the regular list of the New
York Stock Exchange.
The bonds are in denomination of penses, $385,026 ; net, $329,075. By r< quest of the Inter State
Commerce Commission the end of the fiscal year was changed
$,1000 each, with coupons of $25 each, payable on the first of
the 30th of June, which necessitated the changing of the
March and September, the interest on the bonds beiDg at the to
day for the annual meeting of stockholders to the first Tues¬
rate of five per cent per annum, principal due July 1, 1917.
The bonds may be registered as to the principal only with the day in October. John M. Robinson was re-elected President;
Enoch Pratt, Louis McLane, R. Curzon Hoffman, D. A. Barnes,
coupons still attached ; or as to principal and interest with the
Richard Dickson and Moncure Robinson, Jr., directors. The
coupons detached and canceled. The b6ndscan be registered
next annual meeting will be held on the first Tuesday in
at the Mercantile Trust C mpany, where also the interest is
October,
1889.
payable.
These bonds are issued under a trust indenture
—Cable reports from London say that an issue of $2,000,000
dated January 1st. 18S7, to the Union Trust Company of New
York, Trustee. The issue is limited to $15,000,000. The trust bonds has been successfully placed there to extend the Sea¬
board & Roanoke RR. and the Raleigh & Gaston Railroad to
indenture provides that certain securities named therein shall
be deposited with the Union Trust Company, to be held in Atlanta, Georgia.
St. Louis Iron Mountain & Southern..—The Bald Knob
trust against the bonds of the Missouri Pacific Railway Com¬
pany which it is desired to list. The following is a statement branch of the Iron Mountain was opened for business on the
13th inst. it is announced that solid trains will be run vi$
of the companies issuing the underlying bonds, the mileage,
this branch between Little Rock and Memphis, thus vile
rate per mile, and the amount of bonds held by the Union
Trust Company, viz. :
tually giving Little Rock one more railroad.
Amount of
JRctfc per
St Paul & Duluth.—The preferred stockholders’ commik'
Bonds.
Name of Company.
3Wes.
Jhie.
$6,561,000 tee has issued an important circular, stating certain facte
Denver Memphis & Atlantic RR. Co...410-07
$16,000
4,666,* 00
Fort Scott Wichita & Western RR. Co..311
15,000
which they desired to have known to all holders of preferred
2,041.000
Kansas & Colorado RR. Co
136
15,000
-tock,
and calling for proxies at the annual meeting on June
600,000
Salina Ster irw A- El Paso RR. Co
40
15,000
18.
The notice will be found in the Chronicle on the 6th
705,000
47
Wichita <fc Colorado RR. Co
15,000
372,000 page of advertisements.
24*S5
15,000
Kansas Southwestern HR. Co
2,270,000
"
Pueblo & State Line RR. Co
.151-36
Total amount of bonds held in trust
15,000
$17,215,000
tdF For other railroad mxos see page 669.
i
May 26,
1888.]
THE CHRONICLE.
%epoxt$ autl documents.
PHILADELPHIA & READING RAILROAD CO.
679
ings and turnouts, 22*6 miles of single track; the latter ex¬
tending from the Company's main line at Port Clinton
Station in Berks County to the Catawissa Railroad in Schuyl¬
kill County, 28*1 miles, embracing, with branches, sidings and
turnouts, 54 6 miles of single track ;
16. Lease for 999 years from July 25,1861, of railroad of the
Schuylkill
Valley Navigation & Railroad Company, extend¬
DATED JANUARY 3, 1888.
ing from the Mount Carbon & Port Carbon Railroad, near
Port Carbon in Schuylkill County, to the railroad of the Little
TO SECURE THE 4 PER CENT SEVENTY-YEAR GOLD
Schuylkill
Navigation Railroad & Coal Company, near
BONDS.
Reevesdale in that county, 11 miles, of which 5*3 miles are
double track, and embracing, with branches, laterals and
THE PHILADELPHIA & READING RAILROAD COMPANY
sidings, 28*8 miles of single track ;
17. Lease for 999 years from July 25, 1861, of railroad of the
AND
Mill Creek and Mine Hill Navigation & Railroad Company,
THE PHILADELPHIA & READING COAL & IRON COMPANY
extending from the Mount Carbon & Port Carbon Railroad,
TO
near Port Carbon in Schuylkill County, to the Mahanoy &
Shamokin Branch, near New Castle in Schuylkill County, 3*8
THE PENNSYLVANIA COMPANY FOR INSURANCES ON LIVES
miles of double track, embracing, with branches and sidings,
AND GRANTING ANNUITIES,
25*4 miles of single track ;
of the City of Philadelphia, Trustee.
18. Lease for 50 years from March 5, 1860, of Mount Carbon
& Port Carbon Railroad, extending from the Company’s
GENERAL MORTGAGE.
main line, near Mount Carbon in Schuylkill County, to its
DATED JANUARY 3, 1S88.
junction with the railroads of the Mill Creek & Mine Hill
and the Schuylkill Valley Navigation & Railroad companies
PROPERTY COVERED.
near Port Carbon in that county, 2*5 miles of double track,
embracing, with sidings and laterals, 18*8 miles of single
A.
Property of tiie Railroad Company.
SYNOPSIS OF THE GENERAL MORTGAGE.
1. The main line, from
Port Richmond and Willow Street
Wharf on the Delaware Rivrr in Philadelphia via Reading
to Mount Carbon in Schuylkill County, Pennsylvania (in¬
cluding the Tabor Branch from Nicetown to the North Penn¬
triick *
19. Lease
from May 12, 1864, of Mine Hill &
Schuylkill Haven Railroad, extending from the Company’s
main line at Schuylkill Haven in Schuylkill County to Tre¬
mont, Centralia and Locust Dale, and the Mahanoy &
sylvania Railroad at Tabor Junction), 99*8 miles of double Shamokin Branch in Schuylkill, Northumberland and Colum¬
track, embracing, with sidings and turnouts, 374*3 miles of bia Counties, 53*1 miles, of which 23*3 are double track, and
single track;
embracing, with branches, turnouts and sidings, 144*2 miles
2. The Lebanon Valley Branch, from Reading in Berks of
single track ;
County via Lebanon to Harrisburg in Dauphin County, 53 7
20. Lease for 999 years from January 1, 1S70, of canal and
miles, of which 44*5 are double track, and embracing, with navigation works of the President, Managers and Company
sidings and turnouts, 127*9 miles of single track;
of the Schuylkill Navigation Company, extending from Fair3. The Lebanon and Tremont Branch, from Lebanon in mount in Philadelphia to Port Carbon in Schuylkill County,
Lebanon County via Pine Grove to Brookside in Schuylkill 108 miles;
County, 42*2 miles, embracing, with branches and sidings,
21. Lease for 999 years from January 1, 1872. of canal and
67’9 miles of single track;
navigation works of the Susquehanna Canal Company, ex¬
4. The Mahanoy & Shamokin Branch from the railroad of tending from Columbia in Lancaster County to the State line
the Mill Creek & Mine Hill Navigation & Railroad Company, 30 miles.
near Newcastle in Schuylkill County, via Mahanoy, Plane,
22. Leasa for 999 years from November 1,1872, of Cata¬
Ashland, Shamokin, Trevorton and Herndon to Port Trevor- wissa Railroad, extending from its junction with the railroad
ton on the Susquehanna River in Snyder County, (j4*6 miles,
of the Little Schuylkill Navigation Railroad & Coal Company
of which 12 7 are double track, and embracing, witn branches in Schuylkill County to Newberry Junction in Lycoming
and sfdings, 154*6 miles of single track;
County, 96*5 miles, embracing, with branches, laterals and
5. The Mount Carbon Branch, from Mount Carbon to Mount
sidings, 137*2 miles of single track;
Lalfee and Wadesville in Schuylkill County, 8*5 miles, em¬
23. Lease for 29 years from September 1, 1871, of Pickering
bracing with branches and sidings, 20*8 miles of single track; Valley Railroad, extending from the Company's main line at
6. The Schuylkill & Susquehanna Branch, from Auburn in Phoenixville in Chester County to Byers Station, 11*3 miles,
Schuylkill County to the Pennsylvania Railroad at Rockville embracing, with laterals and sidings, 12*4 miles of single
in Dauphin County, 53*4 miles, embracing, with branches, track;
sidings and turnouts, 62*7 miles of single track;
24. Lease interest for 999 years from July 1, 1873, of Phila¬
7. The Port Kennedy Branch, from Port Kennedy in Mont¬
delphia & Chester Branch Railroad of the Philadelphia Wilgomery County, 1 *2 miles, embracing with sidings" and turn¬
ington & Baltimore Railroad Company, extending from
outs, 1*3miles of single track;
Gray’s Ferry in Philadelphia to Ridley Junction in Delaware
8. The West Reading Branch, from the junction with the
County, 9*8 miles, of which 4 3 miles are double track, and
Lebanon Valley Branch in and through Reading, 1*9 miles, embracing,
with sidings and turnouts, 15*6 miles of single
• nbracing, with siding* and turnouts, 8*3 miles of single track.
track;
9. TheMoselem Branch, from Leesport, with a lateral to the
25. Lease for 999 years from May 1, 1879, of main line of
Leesport Iron Company's furnace in Berks County, 17 miles, North Pennsylvania Railroad, extending from Willow Street
embracing with laterals and sidings 2*4 miles of single track ; in Philadelphia to Bethlehem in Lehigh County, 55*5 miles, of
10. Lease for 999 years from December 1, 1870, of Philadel¬ which 54*4 are double track, and embracing, with sidings and
phia Germantown & Norristown Railroad, extending from laterals, 147*8 miles of single track; also of Delaware River
the company’s main line in Philadelphia to Norristown in Branch and Doylestown Branch of the North Pennsylvania
Montgomery County and Germantown in Philadelphia Coun¬ Railroad, the former extending from Jenkin’own in Mont¬
ty, 20*4 miles, of which 19*7 miles are double track, and em¬ gomery County to the Delaware & Bound Brook Railroad at
bracing, with sidings and turnouts, 63*9 miles of single track; the center of the bridge crossing the Delaware River near
11. Lease for 999 years from December 1, 1870, of Chestnut
Yardley in Bucks County, 20*5 miles of double track, embrac¬
Hill Railroad, extending from the Philadelphia Germantown ing, with
sidings and laterals, 46*3 miles of single track, and
& Norristown Railroad at Germantown to Chestnut Hill in the latter extending from Lansdale in Montgomery County
Philadelphia County, 4 miles, embracing, with turnouts and to Doylestown in Bucks County, 10*2 miles, embracing, with
sidings, 6*1 miles of single track ;
sidings and turnouts, 11*5 miles of single track;
12. Lease for 999 years from December 1, 1870, of Plymouth
26. Lease for 999 years from May 1, 1879, of Delaware &
Railroad, extending from the Philadelphia Germantown & Nor¬ Bound Brook Railroad, extending from the centre of the
ristown Railroad at Conshohocken in Montgomery County to bridge crossing the Delaware River near Yardley in Bucks
the North Pennsylvania Railroad at Oreland in that county, County to Bound Brook in Somerset County, New Jersey,
8*9 miles,'embracing, with turnouts and sidings, 10*7 miles of with the Trenton Branch of 3*7 miles, extending from Tren¬
ton Junction in Mercer County, New Jersey, to Trenton, in
single track ;
13. Lease for 20 years from January 1,1870, of Colebrookdale all 27 miles of double track, embracing, with sidings and lat¬
Railroad, extending from the Company’s main line at Potts- erals, 68*5 miles of single track;
town in Montgomery County to Mount Pleasant, now Bartow,
27. Lease for 999 years from May 1, 1883, of Schuylkill &
in Berks County, 12*8 miles, embracing, with sidings and
Lehigh Railroad, extending from the Wilmington & North¬
turnouts, 15*5 mil's of single track ;
ern Railroad in Cumru township in Berks County to Slating14. Lease for 999 years from May 1, 1869, of East Pennsyl¬ ton in Lehigh County, 44 miles, embracing, with sidings and
vania Railroad, extending from the Company’s main line at turnouts, 47*9 miles of single track;
28. Lease for 999 years from July 2, 1883, of Shamokin SunReading to Allentown in Lehigh County, 36 miles, of which
18*5 miles are double track, and embracing, with sidings and
bury & Lewisburg"Railroad, extending from Shamokin in
laterals, 71*3 miles of single track;
Northumberland County to West Milton in Union County,
15. Lease for 93 years from July 1, 1868, of the railroads of 31*1 miles, embracing, with sidings and turnouts, 41 miles of
the East Mahanoy Railroad Company and the Little Schuyl¬
single track;
kill Navigation, Railroad &
Together with
Coal Company, the former
extending from the latter at East Mahanoy Junction in
All other railroads and leases of railroads hereafter ac¬
Schuylkill County to the Mahanoy & Shamokin Branch at
Waste House Run in that county, 8*6 miles, of which 2*1 quired by the company; and
All branches, extensions, sidings and turnouts, lands, rights
miles are double track, and from the East Mahanoy Tunnel to
the Nesquehoning Branch of the Central Railroad of New of way and other real estate, wherever situated, rails, bridges,
Jersey at Hawk’s Switch, 3*4 miles, and embracing, with sid¬ wharves fences, workshops, machinery, stations, offices,
i
for 999 years,
THE
680
.Is I
CHRONICLE.
depots, depot-grounds, engine-houses, buildings and improve¬
ments, now or hereafter acquired; and
All locomotives, tenders,
passenger-cars, baggage-cars,
freight-cars, coal cars, and all other engines, cars, carriages
And rolling stock, tools, implements and materials now or
hereafter acquired; and
Ail steam-colliers, ships,
other boats now or hereafter
vessels, canal-boats, barges and
acquired, including the follow¬
ing steam-colliers and steam-tugs, enrolled in the office of the
Collector of Customs of the port of Philadelphia, viz.: Steam¬
ships—“Panther,”
“Hercules,” “Rattlesnake,” “Reading,”
“
Harrisburg,” “ Lancaster,” “ Berks,” “ Williamsport,” “ Al¬
lentown,” and “ Pottsville,” and steam-tugs—“ Monitor” and
•“J. L. Pusey;” and
All tolls, rents, revenues, issues, profits and income of the
company from its railroads, canals and other property; and
All the corporate and other rights, privileges, appurt¬
enances and franchises of the
company now or hereafter ac¬
quired in connection with the mortgaged premises; and
All streets, ways, alleys, passages, waters, water-courses,
easements, rights, liberties, privileges, hereditaments, and
appurtenances now or hereaft er belonging or appertaining to
the mortgaged property; and
A.8 further security:
One hundred and sixty thousand shares of
the Philadelphia & Reading Iron &
amounting at
par
capital stock of
Coal Company,
to.
$8,000,000
Also the following bonds, deposited with the Trustee until
the mortgages securing them are canceled:
General Mortgage Ronds of the Company secured by mort¬
gage of July 1, 1874, amounting at par to
Income Mortgage Ronds, secured by mortgage of Decem¬
ber 1, 1870, amounting at par to
First Series Consolidated Mortgage Bonds, secured
by
24,457,000
8,493,810
mortgage of August 20, 1882, amounting at par to
Second Series Consolidated Mortgage Ronds, secured by
184,GOG
mortgage of August 20, 1882, amounting at par to
B.
Property
of the
G,131,404
Coal & Iron Company.
All its coal lands, coal leases, iron ore lauds, furnace
prop¬
erties, timber lands and other real estate; the coal lands con¬
taining 153,928 acres, of which 95,144 acres, lie within the
known boundaries of the Anthracite coal fields; the iron ore
lands containing 21,000 acres, and the timber lands containing
70,489 acres;
All railroads now and hereafter
acquired bv the Coal Com¬
pany;
All lands and other real estate,
As
2.
•
3.
*4*
5.
rS.
further security:
Fifty-six thousand six hundred and eighty-three shares
of capital stock of the Preston Coal &
Improvement
Company, amounting at par to
Sixty-three thousand five hundred, and thirtv-seven
shares of capital stock of The Fulton Coal
Company,
amounting at par to
Fifty thousand five hundred and twenty-two shares of
the capital stock of the Locust
Gap Improvement
Company, amounting at par to
One hundred and eighteen thousand three hundred and
fifty-four shares of capital stock of the Tremont Coal
Company, amounting at par to
Fifty-nine thousand seven hundred and twenty-seven
shares of capital stock of the Mammoth Vein Coal
A I nm Company, amounting at
par to
Four thousand
vvarc
Coal
ing at par to
ۥ
.
Securities
$2,S34 150
317 qq5
2,958 850
597 270
Sciiuyi.kii.l Navigation Company.
By agreement of January 3, 1888, between
the Reconstruc¬
primarily the General Mortgage Bonds and subsequently
1.
Mortgage loans of the Schuylkill Navigation Com¬
pany, known as Loans ot 1872-1879, amounting at
2.
Mortgage loans of the Navigation.Company, known*as
Loans of 1882-1907, amounting at
par to
Loan of the Navigation Compauy, knowuas Loan of
1895, amounting at par to
Loan of the Navigation Company, known as
ment
5.
_
6.
7.
8.
the'Navigation Company due in
1913, amounting at par to.........
Boat and Car Loan of the
Navigation
*
493 249 73
3,849,828 67
1,062,00000
Improve¬
Loan, amounting at par to
Boat and Car Loan of
;
Company due in
214,500 00
669,550 00
1915, amounting at par to
579,350 00
Sixty-four thousand live hundred and eighty shares
of Preferred Stock of the
Navigation Company,
amounting at par to
3,229,000 00
Twelve thousand live hundred and fifty-four shares of
Common Stock of the
ing at par to
Navigation Company, amount¬
J
Securities
The
of
Other
627,700 00
Companies.^
following securities acquired by the Board of Recon¬
struction Trustees will be deposited as security
for the Gen¬
eral Mortgage when the former holders receive the securities
provided lor under the plan of reorganization:
3.That
Date.—January 3, 1888.
authorized.—$100,000,000, of which $89,904,920
Amount
provide for existing obligations.
Classification.—Coupon and registered.
Denominations.—Coupon Bonds, $1,000 and $5,000; Regis¬
tered Bonds, $1,000, $5,000, $10,000, $100,000.
Coupon Bonds may be registered and withdrawn from
registry at Philadelphia, New York or London, and may be
exchanged at Philadelphia for Registered Bonds, which may
be registered and transferred at Phil., New York or London.
Principal payable.—January 1, 1958.
Interest payable.—Half-yearly, July.l and January 1; on
Coupon Bonds at Philadelphia; on Registered Bonds at place
of registry.
Both principal and interest are payable in United States
gold coin of the present standard, without deduction for any
taxes payable on account thereof under any present or future
laws of the United States or Pennsylvania for national, State
or municipal purposes, the company agreeing to pay such tax
or taxes which it may now or hereafter be required by any
are
to
.
such law to retain therefrom.
REGISTRATION
OF BONDS.
The
Company must always maintain in New York, Phila¬
delphia and London an office or agency for transfer and reg¬
istration of bonds without expense to the bondholders, and
keep there transfer and registration books open to the inspec¬
ISSUE
OF BONDS.
amounting to $89,904,920 are to be exchanged on
agreed upon for the following obligations of the
Company, or are to provide by sale the means of retiring the
Bonds
terms to be
same:
t
A. Bonds secured by mortgage of June 1, 1871, known as
the Consolidated Mortgage, and mortgages of prior
date
B. Bonds secured by mortgage of October 1, 1873, known
as the Improvement Mortgage
C. Bonds secured by mortgage of July 1, 1874, known as
the General Mortgage
D. General Mortgage Sterling Scrip, with ac¬
crued interest
$1,677,220
E. Bonds and mortgages on real estate of the
2,100,000
company
‘.
F. Advances since January 4, 1SS6, for pay¬
ment of interest on General Mortgage
Bonds
3,000,000
-
,
9,364,000
24,686,000
6,797,220
.
and bonds (including those acquired by
Board of Reconstruction Trustees) of leased or
trolled lines of tlie Reading system
H. Divisional Coal Land Mortgages of The Coal «fc
Company, part of a total issue of $12,186,000
standing January 3, 1888
$24,057,700
the
con
15,000,000
Iron
out¬
10,000,000
$89,904,920
Bonds amounting to $10,095,080 are reserved for additional
betterments, equipment and other acquired property,
and for working capital
10,095,080
$100,000,000
Provided—
"
1. That any balance of the $6,791,200 bonds not needed for
the purposes specified in paragraphs D, E and F, may
be used for any other purpose;
2. That if the $15,000,000 of bonds reserved to take up shares
and bonds of leased or controlled lines are not all used
for that purpose within ten years from January 1, 1888,
what remain may be used for betterments, equipment
and other after-acquired property;
bonds, loans, obligations or secu¬
specified, except the shares and bonds of leased
or controlled companies, shall be paid off and extin¬
guished out of funds not provided by is=ue or sale of
bonds secured by this mortgage, the company may
withdraw a corresponding amount of such bonds and
when any of the
rities
par to
4.
BOND OF
THE PHILADELPHIA & READING RAILROAD COMPANY.
Company, amount¬
Preferred Income Mortgage Bonds:
3.
181,000 00
127,000 00
154,100 00
GENERAL MORTGAGE FOUR PER CENT SEVENTY-YEAR GOLD
505 220
tion Trustees of the Ra lroad Company
and the Trustee of the
General Mortgage, there are pledged with the Trustee to se¬
cure
224,500 00
THE BOND.
235.800
of tii
$223,000 00
57,405 00
1,232,354 05
236,000 00
1,967,050 00
Capital stock, amounting at par to
Pickering ValUy Railroad Company: —
First Mortgage Bonds, amounting at par to
Colebrookdale Coal Company :
Principal and Interest Guaranteed Bands, amounting at
par to
Interest Guaranteed Bonds, amounting at par to
Freight Bonds, amounting at par to
G. Shares
hundred and sixteen shares of
seven
capital stock of the Del
Su8(jueha7ina Canal Company
First Mortgage Preferred Bonds, amounting at par to....
Fir«t Mortgage Priority Bonds, amounting at par to
Third Mortgage 6 per cent Bonds, amounting at par to...
Fourth Mortgage 7 per cent Bonds, amounting at par to..
tion of the Trustee.
coal leases, iron ore leases,
mines, collieries, breakers, engines, workshops, machinery,
offices, buildings and improvements now or hereafter ac¬
quired;
All locomotives,
tenders, coal-cars and carriages, and all
other engines, cars and
rolling stock, tools, instruments,
horses, mules and materials now or hereafter acquired;
All the tolls, rents, revenues,
issues, profits and income of
the Coal Company, and derived from its
mortgaged property;
All the
corporate and other rights, privileges, appurte¬
nances and franchises of the Coal
Company now or here
after acquired in connection with the
mortgaged premises;
All streets,
ways, alleys, passages, waters, water-courses,
easements, rights, liberties, privileges, hereditaments and ap¬
purtenances now or hereafter belonging or appertaining to
the mortgaged property.
1.
f^OL. XLVI
use them as it shall think fit.
The Trustee must certify and deliver bonds to the company
on its written request, provided
that bonds reserved to retire
bonds secured by existing mortgages or to take up shares or
bonds of leased or controlled lines shall be certified and de¬
livered only as needed for the purposes specified, or upon
or satisfactory assurance that the proceeds
bonds will be applied as stipulated in the mortgage.
xVll bonds, of whatever date of issue,, have equality
from the date of the execution of the mortgage.
security
1.
of the
of lien
DEFAULT.
LTpon default in payment of interest or principal for
more than three months after demand in writing, the trustee
may, upon written request of holders of one-tenth in amount
of outstanding bonds as to which default is made, take
1i.■
r»-g
***
May 26,
THE
1888.]
CHRONICLE.
681
possession of the mortgaged property, and manage it, applying wise to have respectively all the rights of bondholders with
the net income to payment of interest on the bonds, and may, regard to them, including the right to receive the interest
upon like request, after or without taking possession, sell the until proceedings are begun by the Trustee to enforce reme¬
mortgaged property at public sale in Philadelphia, after three dies under the mortgage.
The bonds are to be surrendered for extension,
months notice by publication once a week in at least two
exchange or
payment
on request of the Railroad Company, and any mort¬
newspapers of general circulation published in Philadelphia,
New York and London, applying the proceeds of sale to pay¬ gage securing them m*y be satisfied, provided the" bonds
ment, first of interest and then of principal, on the bonds, all
of which are to become due forthwith in the event of any
sale of the mortgaged property.
While in possession of the mortgaged property, the Trustee
shall have and exercise the right to vote on all shares of stock
and act as holder of all shares and bonds pledged in the
mortgage.
If, before the bonds become due, and before
DEPOSIT OF SECURITIES OF SCHUYLKILL NAVIGATION CO.
As provided by agreement with the Reconstruction
Trustees,,
all such securities, except enough to qualify
directors, must
be transferred to the Trustee and stamped and
registered.
LTntil proceedings are begun by the Trustee to enforce reme¬
dies under the General Mortgage or one of the Preference
sale of the
of inter¬
est and the expenses of the Trustee, or if, after entry, the
Trustee receives enough to pay the same from the manage¬
Mortgages of the Railroad Company, the Navigation Company
ment of the property, the Trustee must discontinue proceed¬
is to be released from payment of dividends and interest on
ings for the sale and withdraw from possession, but without the deposited securities, and the Railroad Company is to be
prejudice to the right to enter or take other proceedings for released from the rental under the lease of the Schuylkill
any subsequent default.
Canal payable on such securities.
Upon default on bonds of
The rights and remedies provided in the mortgage are, as the Railroad -Co. secured
by any of the Mortgages named,
against the mortgaged property, exclusive of all others, and the liability to pay the rental, dividends and interest revives.
no part of the property can be levied upon, taken in execution
Transfer of these securities is not to prevent consolidation
oi sold under any judgment obtained by bondholders against
of the Navigation Company wfith the Railroad
Company.
the company for either principal or interest, unless entered
The securities maybe surrendered for extension or
exchange,
to enforce the trusts or powers of entry or sale contained in and
any mortgage securing them may be satisfied, provided
the mortgage, the mode of sale therein provided being intended the securities received in
exchange shall be deposited on the
mortgaged property, either
'
received in exchange shall be deposited on the same
trusts,
and the moneys received in payment shall be
applied to im¬
provements or the purchase of additional property to come
under the mortgage.
company pays
all
a
arrears
to be exclusive of all others.
trusts, and the moneys received in payment shall be
applied to improvements of property of the Railroad Com¬
pany or the purchase of additional property to come under
the mortgage.
Upon payment of the bonds secured by the pledge of these
securities, the Trustee may sell the securities on three months’
public notice, and apply the proceeds to payment of existing
indebtedness of the Railroad Company, or, if there be no in¬
debtedness, distribute the proceeds among the shareholders of
the Railroad Company.
Upon default on bonds secured by any of the Mortgages
named, the Trustee may collect the dividends and interest on
these securities, and sell the securities at public sale at the
same time and place and upon the like advertisement as the
other mortgaged property, applying the dividends and inter¬
est and the proceeds of sale primarily on the General Mort¬
gage Bonds, and then on the Preference Bonds in the order of
priority.
same
Upon like default, the Trustee may sell, at public sale,
at the same time and place and upon the like advertise¬
ment as the other mortgaged property, all the shares of
stock, bonds and other securities pledged in the mortgage,
with right to the Trustee or any bondholder to be a purchaser,
the proceeds to be applied like the proceeds of the other sale.
Until default and until proceedings by the Trustee to
enforce remedies under the mortgage, the two companies are
respectively entitled to receive all dividends, interest and
profits on the pledged securities, provided that no assign¬
ment by either company of dividends, interest or profits
in advance of their payment shall affect the right of the
Trustee to receive the same after it has taken such proceedings.
3. Upon default for more than three months after written
demand, in the performance of any covenant other than for
payment of principal and interest, the Trustee may, upon de¬
mand in writing of holders of one-tenth in amount of the out¬
standing bonds, take possession of the mortgaged property or
2.
sell the same as in case of like default for interest, or may
take any appropriate proceeding in any proper court to secure
EXCHANGE OF PROPERTY.
The Railroad Company and the Coal
the written consent of the Trustee, sell
Company may, with
exchange or lease
or
compliance with such covenant, subject to the power of a or dispose of in compromise, freed from the
mortgage, any
majority in interest of the bondholders, by notice in writing, property owned by them
respectively, except the railroads
to require the Trustee to waive such default and withdraw
and canals mentioned in the mortgage and the
pledged securi¬
such proceedings provided that no action of waiver shall affect
ties ; and the Railroad Company may consent to the sale or
any subsequent default or impair lights resulting therefrom.
exchange of any leased property, and may change the loca¬
WAIVER OF DEFENSES.
tion of any terminals, tracks, station-houses or other struc¬
In case of default neither company can take advantage of tures, and the Trustee may release the same from the
any present or future appraisement, valuation, stay, exten¬ mortgage on receiving a conveyance on the same trusts of the
sion or redemption law of any State wherein any part of the like new property ; the proceeds of sale in
ever}" case to go to
mortgaged property is situated.
improve the mortgaged property or purchase additional prop¬
PAYMENT OF PURCHASE MONEY.
erty, which, with the property received on any exchange, is
to come under the mortgage.
In case of any sale of the mortgaged or pledged
property,
The Trustee must release from the mortgage the
any purchaser may turn in towards pajmient any of the
property
bonds and matured and unpaid interest held by him, count¬ intended to be sold, exchanged, leased, or otherwise disposed
ing the same at such sum as would be payable thereon out of of, unless, within thirty days after receiving notice in writing
the net proceeds of sale, after allowing for the proportion of specifying the purpose and the property, it makes written
objections, or if the objections be overruled by arbitrators.
payment required in cash.
Each company must on the first of January
MODE OF SALE.
every year
until 1958. furnish the Trustee with statements of the
proper¬
The mortgaged and pledged property must be sold as a
ties sold, exchanged, leased or otherwise
disposed of, the prowhole, unless a majority in interest of the bondholders direct,
eeds of sales, the properties received in
exchange, and the
in writing, a sale in parcels.
investment of the proceeds during the preceding
year.
POSSESSION OF PROPERTY.
Until the Trustee shall become entitled to take possession
of the
mortgaged property, the two companies may retain full
possession and management of their respective properties.
RESTORATION OF
PROPERTY.
LEASES.
The Railroad
Company
may agree to any
modification of
lease or contract under which a railroad or canal is or
may be held or operated by it, and, with the written consent
of the Trustee, may surrender the lease or
any part of the
any
proceedings by the Trustee to enforce remedies under leased property.
the mortgage are discontinued or abandoned or determined MORTGAGES FROM COAL
COMPANY TO RAILROAD COMPANY.
adversely to the Trustee, the two companies are to be restored
Subject to any prior assignment, pledge or transfer by the
to the same
position and right in regard to the mortgaged Railroad Co. of mortgages
securing indebtedness of the
and pledged property which they had before the
proceedings Coal Co. to the Railroad Co., such mortgagesare
made subor¬
were taken, the rights,
remedies and powers of the Trustee dinate to the present
of the Railroad Co.
mortgage
remaining as before the proceedings.
FURTHER ASSURANCE.
DEPOSIT OF PLEDGED STOCKS.
Each company must do such acts and execute such instru¬
Certificates for all stocks pledged, except fifty shares or ments as may be required by the Trustee to confirm ita
less of each company to qualify directors until
proceedings title to any present or after-acquired property, including bills
are
begun by the Trustee to enforce remedies under the of sale requisite under United States laws to vest m the
mortgage, are to stand in the name of the Railroad Company Trustee the floating equipment.
and Coal Company respectively, but must be
TRUSTEE.
deposited with
the Trustee, stamped and
The Trustee is responsible only for wilful and intentional
registered, and endorsed with exe¬
cuted transfer available to the Trustee when such
proceedings breaches of trust.
are
begun, the two companies having respectively the right to
In case of resignation of the
Trustee, or neglect, refusal or
vote and receive dividends on the stocks meanwhile.
incapacity to act, the Railroad Company may appoint a new
Assignment of these stocks is not to prevent consolidations Trustee or Trustees with the same trusts, powers and
obliga¬
of the several
companies with each other or with either the tions as the present Trustee. *
Railroad Company or the Coal Company.
If
SATISFACTION.
DEPOSIT OF PLEDGED BONDS.
Upon payment of all the bonds with interest, the bonds and
All bonds pledged must be
deposited with the Trustee the mortgage are to become void, and the Trustee must there¬
stamped, the Railroad Company and the Coal Company other¬ upon enter satisfaction upon the record of the
mortgage,
CHRONICLE
THE
682
COTTON.
JJJJue Commercial 'jpracs.
COMMERCIAL
Friday, P. M., May 25, 1888.
The Movement of the Crop, as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening (May 25), the total receipts have reached 23,601
EPITOME.
Friday Night,
[Yol. XLVI,
May 25,1888.
bales, against 29,065 bales last week, 36 228 bales the previous
week and 82,603 bales three weeks since, making the total
spring-like and promises to receipts since the 1st of September, 1887, 5,344,755 bales, against
5,168,288 bales for the same period of 1886-7, showing an in¬
bring forward rapidly the backward season.
It has already crease since September 1, 1887, of 176.467 bales.
given a decided check to the speculation for the rise in wheat.
Fri.
Total.
Mon.
Thurs.
Tues.
Wed.
Sat.
Receipts at—
The high rates of sterling exchange, together with exception¬
96
389
485
Galveston
ally low ocean freights, give some impulse to the export of
Indianola, &c.
leading staples, the outward movement of cotton being nota¬ New Orleans... 1,034 1,103 2,168
432
315
6,475
1,423
12
126
34
7
20
315
146
bly large for this stage of the season.
General trade is of Mobile
766
766
course slow, as the period for summer vacations approaches,
Florida,
406
337
160
226
502
1,923
292
and to this influence must be added the close holiday next Savannah
145
145
Brunsw’k,Ao.
Wednesday, and one of the great national political conven¬
171
137
139
159
179
47?
1,264
The weather hss become more
......
......
tions the wee k following.
Lard on the spot has been
held for higher prices, but trade
PRICES OF LARD FUTURES.
Saturday. Mond'y Tuesday.
8*85
8*81
June delivery
8*88
8*87
July delivery
8*88
8*81
8*88
Aug. delivery."... 8 90
8*84
8*91
8ept. delivery
8*87
8*92
8*90
Oct. delivery
8’80
8’JO
Pork has been more
Wednsd’y. Thursd’y. Friday.
8*85
8*87
8 >9
8*91
8*89
8*86
■8*87
8*90
8*93
8*90
8*79
8 80
8 83
8-87
883
quoted at 11@11)4C. Oleomargarine is quiet at
good demand at 20@24c, for creamery and 17@
20c. for Western factory. Cheese is more active at 7}£@9c.
is
Butter is in
State factory.
Coffee on the spot has been
Norfolk
West Point,Ac
to-day the sales embraced 6,750 bags Santos at 131^@15%c.
for No. 10 to No. 5, besidts Rio No. 8 at 14!£<?., Timor at 19J4
<3)20c., and Mocha at 23c. The speculation in Rio options was
buoyant, touching this morning the highest prices for the
week, when June sold at 14 15c., August 12*8oc. and the
winter months at 11 *80c.
A sharp decline followed, aDd the
close was barely steady, with sellers as follows :
14*65c. I September.. ..ll-.-Oc. January
February
]3*8oe. I October
ll*55c. March
7.13*15c. I November
ll*4f>c.
12*45c. 1 December
Il*45c. April
May
June
July.1
August
Raw sugars
ll*45e.
11m 5c.
8:5
190
647
311
432
568
173
2,396
200
375
100
150
825
490
399
338
530
2,552
73
65
86
Totals this week
3,267
4,055
4,827
,
-
213
213
_
224
23,601
5,472
3,511
2,469
For comparison we give the following table showing the week’s
total receipts, the total since September 1, 1887, and the stock
to-night, compared with last year.
Galveston
Sep.
1, 1887.
This
Since
Week.
This
Since
Sep.
1, 1886.
Week.
218
1888.
1887
705,656
5,706
7,157
1,997 1,711,734
471
212,244
125 090
107,757
11,584
1,843
3,846
650,284
485
...
r.il'nola, Ac
New Orleans.
Stock.
1886-87.
1887-88.
Receipts to
May 25.
T
6,475 1,714,192
.
Mobile
315
Florida
76
Savannah
203,366
7
23,159
2,270
860
12,065
8
1,923
...
24,137
537
3
793,150
31,729
364,350
18,772
o
Ac
Wilmington
45
74,972
407,576
15,773
38
167,389
49
134,217
2,454
1,833
WaslTt’n.AC
1
4,925
4
3,773
3,827
529,419
17,206
4,314
145
Bruns w., Ac
Charleston
1,264
-
..
P. Royal,
.
4,527
474,231
509,938
1,662
W. Point, Ac
637
323,681
New York....
825
30,951
713
2,552
213
84,636
44,133
1,116
224
25,932
54u
95,049
103,003
63,282
54,987
Norfolk
Boston
Baltimore
...
Phil’del’a, Ac
23,60115,344,755
Totals
866
mmrnmmm
736
4,454
120
4,938
198,497
10,000
-••••«
197,833
5,000
4,643
11,770
15,327
9,765 5.168,28
24,422
419,211
359,389
In order that comparison may be made with other years,
give below the totals at leading ports for six seasons.
Receipts at —
1888.
.
1886.
1887.
1885.
1884.
'
we
1883.
485
218
729
322
838
3,628
II *4 5c.
New Orleans.
6,475
1,997
5,480
2,056
2,655
8,913
ll*45c.
Mobile
345
474
C63
296
160
842
860
3,962
364
402
1,768
Charlest’n,&c
1,923
1,309
540
3,031
4S8
55
876
Wilm’gt'n, Ac
39
53
85
15
18
253
1,662
3,178
1,631
723
5,994
Point, Ac
S,773
4,527
687
457
194
All others....
4,725
3,274
5,202
1,598
3,278
7,262
Tot. this week
23,601
9,765
22,790
6,964
8,129
30,126
Since Sept. 1. 5344,755 5168.288 5165.339 4701,36!
4 ”51,662
5824,186
have been dull atbarely steady prices, but to¬
delphia. The tea sale on Wednesday went off at steady
prices, except that low grade Formosa oolongs were slightly
cheaper.
Savannah
W’t
890
Galveston Includes
Indianola; Charleston includes Port Royal, Ac.!
Wilmington includes Moreh’d City, Ac.; West Point includes City Point, &o
The exports
of
for the week ending this evening reach a total
51,712 bales, of which 33,891 were to Great Britain 6,006
to France and 14,815 to the rest of the Continent.
the
From Sept.
Exported to—
Great 1
BriVn. France
from—
“Wisconsin Havana, 5@llf£c.; 100 cases 1886
New England Havana, 11*®30c.; 100 cases 1886 crop,
crop,
State Havana, 9t® 18c ; 250 cases 1886 crop, Dutch, 9@ll%c.;
700 bale? Havana, G0e.(®$l 05, and 300 bales Sumatra, $1 30@
Galveston
$1 70.
Florida
11,382
Mobile
Metal Exchange has been only moderately active.
Straits tin has declined, closing to-day at 20)£c. on the spot
Savannah*
and 1934c. for August. Ingot capper met with some demand
at 16*60c. for May and June and 16 35c. for October.
Lead
declined, and fold on Wednesday at 3*95®3*9734c. for June,
but is firmer tince, and sold to-day at 4'07i£(®4*10c. for July.
The interior iroa markets continue very dulfand unsettled.
4,283
....
......
Charleston....
......
Week.
5,023
20,693
4,0o0
4,030
......
West Point.&c
New York
982
......
12,332
3,723
Boston
6.194
Baltimore ....
Pkiladelp’a’&c
3,001
Total
Total 1S00-7
......
..
Norfolk
*
Total
nent.
......
Wilmington
V
Conti-
....
New Orleans..
The
Below
are
exports for the week and since September 1, 1887.
Week Ending May 23,
1886 crop,
Spirits turpentine has declined, and was to-day quite de¬
pressed, closing at 3G^(a‘SG^c. Rosins are unchanged at
$1 20(®$1 25 for common to good strained. Ciude petroleum
certificates, at easier prices, are more active, closing at 867y@
87c. Wools are unsettled.
fe&g
...
'Norfolk
Kentucky tobacco has been in good demand at 3^@KC* per
lb. advance. Sales for the week are 550 hhds , of which 350
for export.
The movement in seed leaf was less liberal, and
sales only 1,280 cases, as follows: 350 cases 1886 crop, Pennsyl¬
vania seed leaf, 9fa>ll!£c.; ISO cases 1886 crop, Pennsylvania
Havana, 5@ll)£i\; 100 cases 1887 crop, Zimmers, 18c;; 200
206
Galveston,...
day were more active; fair refining Cuba quoted 4%@4 13 16c.;
and sales embraced a cargo of centrifugal, 93 deg. test, at
3 3-l6c.. c. and f., and 800 hhds. Cuba, 90 deg. test, at 2&C.,
c. and f.
Refined eugars have sold slowly. Molasses sold to
a moderate extent at 20c.for 50-deg. test, mostly to go to Phila¬
cases
849
Philadelphia, Ac
,
I
3,773
4,527
1,446
409
Boston
38
1
257
336
Baltimore
45
15
1
11
8
......
New York
new
fairly active at full prices, and
3
Wilmington....
Wash’gton, Ac
active, but closes quiet; mes3 $14 25@
$ 15 25 for old and new; extra prime, $13@$13 25; clear,
$16 2d@$17 75. Cutmeats have remained quiet; pickled bel¬
lies, 73^@7££c.; shoulders, 7J4@7;';8c., and hams, ll@1134c.;
smoked shoulders, 8^c., and hams, 12^(312?8>. Beef is firm
at $7@7 50 for extra mess and $8@$8 50 for packet per bbl ;
India mess quoted at $12@14 per tierce; beef hams more
active at $15 50@ 16 per bbl. Tallow lower at 37a@4c. Stearine
for
*
45
very
DAILY CLOSING
......
Charleston
dull, and so closes with a weaker feeling, at 8#30@
8*35 for prime city, 8 85@S*90c. for prime to choice Western,
$'45@8'50c. for refined to the Continent and 9 60c. for refined
to South America. The speculation in lard for future delivery
has been sluggish, prices making slight flue ualions, being
lower to-day with an unsettled closing.
was
......
......
......
......
..
982
3,091
17,140
0,194
2,464
5,465
202
202
33.89L
0,006
14.S15
4,059
241
9.040
1,1887, to May 25, 1888
Exported to—
Great
Britain. France
Continent.
Total.
220,88-t
4,024
693,390 291,574
62,488
3,440
81,973
312,883
415,968 1,400,932
62,488
18T,U52
70,037
75,786
223,357
222,521
528,321
199,893
103,602
12,480
25,839
240,898
0,395
89,722
4,139
1,109
204,492
4P.7381
,k...
37,055
......
2,405
a d.itt
2 503
440,230
282,062
121,903
227,493
223,630
709,868
202,393
'44,775
5,493
150,782
51,229
186,186
54,712 3.648,415 379,772 1.220,758 4,252,945
33 90h 2 508.180 4 70 203 1.130.908
Includes exports iron Brunswick.
4.196.431
Mat 20,
THE
188a]
CRKUJSTCLE
telegrams to-night also give
us the following amounts of cotton on shipboard, not cleared,
at the ports named. We add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
& Lambert. 24 Beaver Street.
In addition to above exports, our
On
May 25, at—
Great
Britain.
New Orleans....
Mobile
Charleston
Bavannah
Galveston
Norfolk
New York
Other ports
France
trance.
1 Foreign
0ther
$£
2.®
© 63*
®
S'
Coast¬
wise.
**
Total.
a 3>
a a
Stock.
9,787
2,182
2,696
109,901
None.
None.
None.
None.
None.
350
None
None.
524
None.
15,189
None.
None.
None.
None.
3,000
4,200
Notie.
11,584
3,000
1,200
2,200
2,254
None.
None.
None.
800
None.
800
None
11,265
5,200
3,900
2.000
None
None.
8,200
8.450
9,000
7,000
S'
K*W
23,9S7
Total 1887
Total 188(5
6,621
61,875
2,^32
9,596
None.
4.339
3,462 !
7,724
43,839
11,181
79,030
1,0 8
4,867
10.949 !
375,372
348,208
486,747
speculation in cotton for future delivery at this market
during the first half of the week un ler review, while the
foreign markets were closed for the Whitsuntide holidays,
was, though inactive and fitful, at slightly hardening values.
The statistical position abroad was an element of strenth
upon which the bulls were inclined to act, notwithstanding
the excels in Southern stocks and the comparatively large
quantity which still comes out from the plantations. The
market opened we ak on Wednesday, the mprovement at
Liverpool an the re-opening of that maiket not beirg so great
as was expected by the tulle; but when the large business for
export on Tuesday was reported there wes a moie active spec¬
ulation at hardenirg prices till near the close, when values
receded a few points. Yesterday the market was dull, with¬
out important change, and no active influence apparent,
though the bulls derived some support from the rapid reduc¬
tion of stocks at the ports.
To-day notices for June delivery
came out quite freely, and, with
a weak report from Liver¬
pool, ihey were thrown upon the market, leading to free ex¬
changes of the early for later months, the bulls paying differ¬
ences and cauemg a smart decline.
Cotton the spot continued
steady; on Monday eahs of 1,378 bales for export, not previ¬
ously reported, were made public, but on Tuesday afternoon
(reported on Wednesday) there were sales of nearly 5,000 bales
for export.
To day the market was quiet at 10c. for middling
uplands.
The total sales for forward delivery for the week are 246,800
Dales. For immediate delivery the total sales foot up this week
7,036 bales, including 5,154 for export, 1,882 for consumption,
for speculation and
in transit. Of the above — bales
were to arrive.
The following are the official quotations for
each day of the past week—May 19 to M ty 25.
1
!
Th.
FrI.
7*4
7*i
7q
7*4
m
i
:
*-i
.
I
S3
•
p;
C*5
.
7*4
7*4
9*]«
9»,6
91*16
714
7U
7*4
7q
7*4
7\
8Hm
9*16
8Hm
9*16
99m
9^16
9l*m
9!*m
8um
9*m
99m
9i*ie
811,6
9*m
99m
913,6
811,6
9*16
9
10
10
10
10
10
ioq
1014
ioq
ioq
ioq
90
►
GULF.
Sat.
$ lb
Ordinary
Strict Ordinary
7*8
7^8
81*16
9J16
9H,«
915m
Good Ordinary
Strict Good Ordinary
Low Middling
Strict Low Middling
1010
10*8
Middling
Good Middling
Strict Good Middling
Til.
Frl.
7*8
7*8
7*8
778
81*16
9^,6
911,6
77r
778
81*16
95,«
9Hm
915m
813,6
9Bl«
911,6
9b>,6
M011 Tneu Wed
7=q
77s
7*8
7'8
81*16
95,6
911,6
91°16
81*16
95m
911
6
915le
915,6
1018
10i8
10lQ
10*8
10*8
10*8
1018
10*8
I
Si -8
0;
©
Middling Fair
Fair
Sat.
STAINED.
Good Ordinary
Strict Good Ordinary
Low Middling
$ lb.
Middling
r*<>
•
46
Til.
HIou Tues Wed
•
7»ie
77s
778
77s
778
8i*m
81*16
81*16
81*16
9^8
95g
9*8
9*8
7*16
7*m
778
81 *, fi
9^8
77s
O*
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1018
lOHm 1011m 10H16 10H1(, 1011,6 101116
Ul,6 lUm IH10 IU16 111,6 lUm
UUm 111‘lfi lH'm 1111,6 1111,6 1111,6
<J
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L0i>,6 10*16 10*m ion, e 10**16 100,e
10 l°i6 101o1(! 10151( 1015,6 1015,6 1015,6
111*16 11*16 H9m Ll9m Uy16 110,6
Fair
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$ lb.
Ordinary
Strict Ordinary
Good Ordinary
Strict Good Ordinary
Low Middling
Strict Low Middling
Middling
Good Middling
Strict Good Middling
Middling Fair
tO ct»
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Iflon. Tnes Wed
93
*
—
Sat.
fws-g
p
The
UPLANDS.
aE.fi
s-a ® &
p ® - SB
CO
©
Total 1888
©
® a a ®
co
5,706
9,006
190,047
35,6 y 9
a&g*
©
no
Leaving
sggl
©
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Shipboard, not cleared—for
683
I
I
:
a
I
I
'
MARKET AND SALES.
I I
The total rales and future deliveries each day during the
week are indicated in the following statement.
For the con¬
venience of the reader we also add a column which shows at a
glance how the market closed on same days.
BALES OF SPOT AND TRANSIT.
pm
2m
SPOT MARKET
CLOSED.
Sat
Steady
Mon
Quiet!
Tues. Easy
jEx¬
port.
.
WaU
'■'irni
430
4,724
Thura Finn
Fri... Quiet
....
Spec- Tran¬
sit.
sump ul'Vn
Con-
10S
340
485
364
1* 1
424
5,154 1,882
Total.
....
67,300
....
7,036 246,800
....
mm
mm
340
....
....
915
....
....
....
....
5,088
161
424
The dally deliveries given above are
actually
previous to that on which they are reported.
ng
comprehensive table :
Sales.
Deliv¬
eries.
21,400
31,400
34,000
62,800
29,900
10S
....
The Sales and Prices of Futures are
FUTURES.
....
....
delivered the day
shown by the follow
*
Includes sales in September, 1887,
ember October, for October, 5'0,v:00;
:
for September, 258,200; Sept¬
Sepiemt er-Novemhcr, for No
vember, 481,600; September-December, for December, 1,027,400;
ember-Jauuary, for .January, 2,256,600 ; September-February, for
ruary,
SeptFeb¬
1,501,700; September-March, for March, 3,112,100; September-
April, for April, 2,005,700.
the above table, and shall continue each
give, the average price of futures eaoh day for each month, it
will be found under eaoh day following the abbreviation “ Aver ” T! o
average for eaoh mouth for the week Is also given at bottom of table.
Transferable Orders—Saturday, 9*00c.; Monday, 9*00’.; Taead-y,
9 903.; Wednesday, 9-95(3.; Thursday, 9-95o.; Friday, 9-95o..
The following exchanges have been made durimg the week :
•20 pd. to ex. h. 5.400 June for Aug.
•20 pd. to exch. 5,c00 June for Aug.
•19 pd. to exch. L, 0 * June for Aug.
•0 & pd. to exch. 100 July for Aug.
m9 pd. to exch. 1,800 July for Aug.
*22 pd. to exch. 1,500 Sept.for June.
11 pd to exch 4,200 June tor July
•11 pd. to exch. 9 0 June for July,
10 pd. to© eh. 1,200 June for July*
v 1 pd to exch. 3,600 June for Aug.
20 pd. to exch. ’ ,000 Sept, for J une*
•21 pd. to exch. 2,0U0 J une foi Aug.
We have Included in
week to
The Visible Supply op
and telegraph,
Cotton to-night, as made up by cable
is as follows.
The Continental stocks, as well as
CHRONICLE
THE
-684
those for Great Britain and the afloat are this week’s returns*
and consequently all the European figures are brought down
to Thursday evening.
But to make the totals the complete
figures for to-night (May 25), we add the item of exports from
<the United States, including in it the exports of Friday only.
1888.
1887.
1886.
767,000
933,000
633,000
951,000
3,500
49,400
29,000
648,000 1,026,000
5,900
5,000
50.000
43,000
.
bales
'Stock at Liverpool
Btook at London
Total Great Britain stock.
Stock at Hamburg
784,000
4,000
37,800
15,000
300
Stock at Bremen
Stock at Amsterdam
Stock at Rotterdam
Stock at Antwerp....
Stock
Stock
Stock
Stock
*
Stock
700
177,000
3,000
67,000
5,000
7,000
at Havre
at
at
at
at
Marseilles
Barcelona
Genoa
Trieste
50,000
200
300
1,100
251,000
1,000
152,000
7,000
500
800
?,000
53,000
68,000
15,000
8,000
15,000
413,200
Total European stocks
1,100,800
India cotton afloat for Europe.
180,000
Amer. cott’n afloat for Eur’pe.
143,000
1,364,200
51,000
419,211
Stock in U. 8. interior towns..
109,832
22,000
359,389
United States exports to-day.
5,352
3,991
Egypt, Brazil, <fec.,afltforE’r’pe
Stock in United States ports..
30,000
28,000
316,800
Total Continental stocks
15,000
18,000
17,000
1885.
996,000
9,000
329,200
189,000
4,000
66,000
8,000
5,000
378,300
977,200 1,404,300
310,000
58,000
248,000
208,000
250,000
13,000
113,000
565,777
141,053
14,475
42,775
4,000
449,468
51,949
3,200
Total visible supply
2,009,195 2,169,355 2,209,505 2,233,917
Of the above, the totals of American and other descriptions are as follows:
Amer loan—
bales
554,000
Continental stocks....
178,000
American afloat for Europe...
United States stock
United States interior stocks..
United States exports to-day..
419,211
109,-32
Liverpool stock
Total American...
East Indian, Brasil,
the same towns have been 7,810 bales more than the same
week last year, and since September 1 the receipts at all the
towns are 84,349 bales more than for the same time in 1886-7,
Quotations for Middling Cotton at Other Markets.—
In the table below we give the closing quotations of middling
cotton at Southern and other principal cotton markets for each
day of the past week:
ending
May 2o.
Satur.
Mon.
Galveston
New Orleans.
Mobile
Savannah
Charleston
9716
97m
9*2
9V
93a
912
93s
9^16
9n16
9*16
9ni6
9916
91116
Wilmington
93q
934
...
...
..
Norfolk
Boston
Baltimore
213,000
London stock
Continental stocks
India afloat for Europe
Total American
10
10
1014
958
1014
....
Cincinnati...
...
5-
■ ft® ®
p
ego
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<
? £ Sd3.crp-2
tnp® Hj
3
o
172,000
15,000
103,200
248,000
13,000
227,000
i8;ooo
129,200
310,000
22,000
2,209,505 2,233,917
S^d.
9316c.
5io16d.
10i&36o.
9%
93i
9^
93t
9%
934
1887.
<1M
MOT
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M
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05
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00 XM V]l.jx ©
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934
934
10
978
I 1888.
M
too to COM toco
MX
1886.
1887.
I 1888.
1886.
I 1887.
14,222
27,980 271,330 107.106!217,276
15,141
39,150
13,077
12,666
30,641 242,118
32,603 221,127
36.223 200,056
96,981! 199,870
86,506'172,287
72,51(>i.l45,074!
19,486
11,086
18,164
13,683
10,626
9,705
29,065 174,496
23,601 166,692
64,868
58,588 117.812
131,2771
3,887 j
34,754
29,447
22,790
4.980
2,282
5,010
2,602
1888,
“p.I&l
13,266
5,020
9,010
2,084! 15,268
3,485
10,166
The above statement shows—1. That the total receipts from
the plantations since September 1, 1887, are 5,438,767 bales;
in 1886-7 were!5,178,816 bales ; in 1885-6 were 5,306,181 bales.
2.—That, although the receipts at the outports the past week
23,601 bales, the actual movement from plantations was
only 10,166 bales, the balance being taken from the stocks at
the interior towns.
Last year the receipts from the plantations
for the same week were 3,485 bales and for 1886 they were
4,986 bales.
were
Amount of Cotton in Sight May 25.—In the table below
give the receipts from plantations in another form, and add
May 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
we
to them the net overland movement to
1887-88.
1886-87.
1885-86.
1884-85.
MCtoVltOM
COG0C3^1O3MCCO’
ococ.cocoocoto
«*<
sf
ft
^
in
94,012
10,528
140,842
40,592
6,711,297 6,260,615 6,327,294 5,559,671
May 25.
spinners’ takings to
1,616,482 1,480,320 1,613,407 1,261,269
©
to PJ.
O’
Weather Reports by Telegraph.—Reports to us by tele¬
graph to-night indicate that while in general the weather
conditions have been fairly favorable for cotton, in portions
of the Southwest dry weather is desirable, although up to this
time the rains have
been of benefit rather than otherwise.
Repoits from some districts state that the growth of the plant
is being retarded by the cold nights.
tfaLreston, Texas.—It has rained on three days of the week,
the rainfall reaching one inch and fifteen hundredths.
Aver¬
age thermometer 76, highest 84 and lowest 65.
Palestine, Texas.—We have had hard and beneficial rain on
is wanted now for a
three days of the week, but dry weather
while as some crops are getting grassy.
two inches and sixty-eight hundredths.
The rainfall reached
The
thermometer has
©:
to; CO
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CO © CO O’©
O’0010 M to -1.
O’ M © O’ M M a CO to ©. O’ X
averaged 73, the highest being 86 and the lowest 60.
00
Huntsville, Texas.—There have been good showers on five
SP
M
COM
M
03
M
days of the week, the rainfall reaching one inch and ten hun¬
©tOOMMCOM
tOMtOOttOMMCOODO
MMO»C3CCM^JM
^lO’OSM WMM
cop to JO C3 00 M 00 CO CO (JO 00 CT to M C3 to CO
dredths. Crops are splendid, but dry weather is desirable.
W M CO O’O'to MCoV X©"-. cc 03
co'b’Vib’coco'co
00 <J coVj
The thermometer has averaged 74, ranging from 59 to 89.
©©XtO©X M
00 <
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O’ © <1 O’ O’ <103 0' M O’ © <J CO to © (JO
<JO03MHOO
a
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Dallas, Texas.—There has been too much rain, interrupting
work,
and grass is growing fast. The week’s precipitation has
CO
CO M
been one inch and seventy-eight hundredths on three days.
M O’ M
00*
MM
05^
<jlo M
MCO
MtC tOM
'JOD-JMm; MWOCO
03 © o
COCO
The thermometer has ranged from 49 to 87, averaging 68.
g!
COM to M O’ M
C0-q©o
©03©03MX©03-4X
O’ o
J?
San Antonio, Texas.—Crop prospects continue all that
could be desired. There have been showers on three days of
s*
vjto
M
MM
MCO
|0 M M J
the week,the rainfall reaching seventy hundredths of an inch.
^M •
I1
V CO © <J*M •
00 M
COM
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00 M CO
©<» coco co
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Averge thermometer 74, highest 91, lowest 56.
OWOOMK-OlMMOOMMMO®®. 00<J©M©©CO<1
Luling, Texas.—Prospects continue very fine except that
•The flguree for Louisville in both years are “net.”
from frequent rains many crops are getting in the grass.
The above totals show that the old interior. stocks have The week*s rainfall has been two inches and forty-two hun¬
decreased during the week 12,456 bales and are tonight 67,057 dredths on two days—too much rain. The thermometer has
bales more than at the same period last year. The receipts at averaged 78, the highest being 95 and the lowest 61.
00 O’
O’*
K> O’ 03 COM
CO C to m
:
•
•
•
‘
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to
co o’ co <i o’ to
CC©MO©<J
CO
tow
9916
991S
It will be seen by the above that the increase in amount In sight to¬
night, as compared with last year, is 450,682 bales, the increase as
compared with 1885-6 is 384,003 bales and the increase over 1884-5
is 1,151,626 bales.
r^oe
5
M©
99l6
9916
40,809
May 25
I^
OO^MCOOt'qO’COrfkCOMO'MOSXtOOCOM
C OD 03 O: to OT
© © m © tc cc m
M CO M CO to 03 05
IOI4
958
43,960
Total in sight
CUCOiM M-^M
M
10
IOI4
96g
91316
5,438,767 5,178,816 5,306,181 4,741,953
750,799
895,530
742,113
578,718
Southern consumpt’n to May 1
377,000 331,000 279,000 239,000
.
M
M
10
IOI4
938
Tot. receipts from plantat’ns
Net overland to May 1
03
®®;-
tOM
V]©
10
10 %
934
9%
1886.
Northern
W
M
CO M CO 05 03 Oi CD
1018
»916
9916
Interior stocks on May 25
excess of September 1...
a
»®
H
li Pi
1018
10
99lfl
9916
99]6
938
91316
5,344,755 5,168,288 5,165,339 4,701,361
O ^ m *0 O *2J § ®
C
r*;
938
934
1018
Receipts from the Plantations. — The following table
Indicates the actual movement each week from the planta¬
tions.
The figures do not include overland receipts nor
Southern consumption; they are simply a statement of the
249,000
30,000
113,300
208,000
4,000
B.
Oo
93s
9^
1018
Receipts at the Ports. St’k at Interior Tmuns. Rrcypt8 from PlanVru,
33
$
2 h;
gx
9Hl«
3,200
Continental ports this week have been
a
9"1«
91I16
51,949
51,000
O cc o SO ^ Q ft
9d1R
911] 6
9916
9916
9»16
statement.
o
9*2
93s
9916
99ig
99] 6
99] 6
ponding period of 1886-87—is set out in detail in the following
H
9716
.
14,475
At the Interior Towns the movement—that is the receipts
for the week and since Sept. 1, the shipments for the week¬
end the stocks to-night, and the same items for the corres,
2 st © ® p ®
9>
9^
93s
141,053
figures indicate a decrease in the cotton in sight
to-night of 151,160 bales as compared with the same date of
1887, a decrease of 200,310 bales as compared with the corres¬
ponding date of 1886 and a decrease of 224,722 bales as
compared with 1885.
o
9*2
93a
93s
Fri.
3,991
The above
©
97ie
Thurs.
42,775
Total visible supply
2,0C9,1952,160,355
.PrioeMid. Upl., Liverpool
5^1.
5i3lfid.
Price Mid. Upl., New York—
10c.
ll^c.
yy The imports into
13,000 bales.
...
Wednes.
weekly movement from the plantations of that part of the crop
which finally reaches the market through the outports.
265,000
113,000
449,468
706,200
551,200
604,300
599,800
1,409,395 1,454,155 1,658,305 1,629,617
Total East India, &o
1018
St. Louis
Louisville
93t
1018
Tues.
747,000
226,000
250,000
565,777
17,000
138,^00
180,000
.Egypt, Brazil, &o., afloat
.
Philadelphia
Augusta
Memphis
1,409,395 1,454,155 1,658,305 1,629,617
dtc.—
QUOTATIONS FOR MIDDLING COTTON ON—
461,000
5,352
Liverpool stock
CLOSING
Week
706,000
284,000
58,000
359,389
143,000
[Vol. XLV1,
M
O'. CO
MbO
M-JCTtO!
M
Sg
irS-
May
THE
26, 1888.]
CHRONICLE.
685
Columbia, Texas.—We have had splendid showers on three reached three inches and fourteen hundredths.
Cotton and
At some points cotton is just up, but
days of the week, the rainfall reaching eighty-four hundredths corn are looking well.
of an inch. Crops of all sorts are very fine. The thermometer reports generally are favorable.
The thermometer has aver¬
has averaged 76, ranging from 62 to 89.
aged 68, the highest being 92 and the lowest 54.
Cuero, Texas.—There have been light showers on three
Atlanta, Georgia.—Telegram not received.
days of the week, the rainfall reaching sixty-four hundredths
Charleston, South Carolina.—It has rained on three days
of an inch. Crops are splendid; corn is about made. Cot¬ of the week, the rainfall reaching two inches and thirtyton has a splendid stand, is growing fast, and is well for¬ seven hundredths.
Average thermometer 72, highest 81 and
ward. There never has been a better promise. The ther¬ lowest 61.
mometer ranged from 51 to 90, averaging 71.
Stateburg, South Carolina.—Rain has fallen on three days
Brenham, Texas.—It has rained on three days of the week of the week, the rainfall reaching three inches and one hun¬
harder than wanted, interrupting work and stimulating the dredth. The rain was very beneficial, being steady and mod¬
grass.
Otherwise everything is very promising. Average erate, with no washing or pounding. The thermometer has
thermometer 76, highest 90, lowest 62, and rainfall two averaged 66*4, the highest being 86’5
and the lowest 54.
inches and five hundredths.
Columbia, South Carolina.—Telegram not received.
Belton, Texas.—Hard rain on two days of the week has in¬
Wilson, North Carolina.—We have had rain on five days
terfered with the harvesting of small grain, and suspended of the week, the rainfall reaching one inch and seventy hun¬
work, but otherwise has done no harm. The rainfall reached dredths. The thermometer has ranged from 54 to 94, averag¬
three inches and seventy-four hundredths. Average ther¬ ing 69.
mometer 73, highest 87, lowest 59.
The following statement we have also received by
telegraph,
Weatherford, Texas.—It has rained splendidly on one day showing the height of the rivers at the points named at 3
of the week, the rainfall reaching one inch and two hun¬ o’clock May 24, 1888, and May 26, 1887.
dredths.
Crops are fine. The thermometer has averaged 74,
May 24, '88. May 26, ’87.
the highest being 92 and the lowest 55.
New Orleans, Louisiana.—We have had rain on four days
Feet, j Inch.
Feet. Inch
New Orleans
10
1
9
11
2
of the week, the rainfall reaching four inches and sixty hun¬
Miss ing.
Memphis
18
8
dredths. The thermometer has averaged 76.
Nashville
Above low-water mark.
5
4
5
|
3
Miss ing.
Shreveport, Louisiana.—Rainfall for the week one inch Shreveport
16
2
—Above low-water mark.
29
and fifty-one hundredths. The thermometer has ranged from Vicksburg
29
|
0
5
60 to 90, averaging 73.
India Cotton Movement from all Ports.—The
receipts
Columbus, Mississippi.—We| have had rain on three and
shipments of cotton at Bombay have been as follows for
days of the week, the rainfall reaching ninety-two hun¬ the week
and year, bringing the figures down to May 24,
dredths of an inch.
Average thermometer 68, highest 88 and
BOMBAY RECEIPTS AND
881
8IIIPMENTS FOR FOUR YEARS.
lowest 50.
JDeland, Mississippi.—Rainfall for the week ninety-nine
hundredths of an inch. The thermometer has averaged 69,
the highest being 89 and the lowest 55.
Greenville, Mississippi.—Rain has fallen on one day of
week, the rainfall reaching seventy hundredths of an
inch. The thermometer has averaged 73, ranging from 60 to 86,
Clarksdale, Mississippi.—Nights have been unusually
cool of late. A good stand has been secured and the crop is
clean. Forty-two hundredths of an inch of rain has fallen
during the week.
Vicksburg, Mississippi.—There have been showers on two
days of the week, the rainfall reaching twenty-seven hun¬
dredths of an inch.
Average thermometer 75, highest 98 and
the
lowest 62.
Meridian, Mississippi.—We have had rain each day of the
week. Cold nights are damaging to young cotton. The crop
is backward. The thermometer has ranged from 50 to 80.
Little Rock. Arkansas.—We have had rain on three days
and the remainder of the week has been clear and pleasant.
The rainfall
Crops
reached
one
inch
and
sixty-five hundredths.
are all in excellent condition with good reports as to
stands and health of plants. The thermometer has
averaged
Shipments this week.
Year Great Conti¬
Brit’n. nent.
1888
1887
1886
1885
Total.
Shipments Since Jan. 1.
Great
Britain
Conti¬
nent.
Total.
11,000 32,000 43,000 15 9,000 475,000
3 *,000 28,000 67,000 275,000 511,000
12,000 4*,OOO 60,000 221,000 483,000
17,000 1,000 18,000 164,000 345.000
Shipments for the week.
Great
*
I
Conti-
634,000
786,000
704,000
50*,000
Since
Jan. 1.
55,000 1,096,000
58,000 1,213,000
79,000 1,105,000
806,000
6M>00
Shipments since January 1.
Total.
Britain.\ nent.
Receipts.
This
Week.
Great
Britain.
Continent.
25,000
76,000
63,000
95,000
88,000
171,000
7,000
2,000
2,000
9,000
6,000
14,000
15,000
29,000
30,000
Total.
Calcutta—
1888
1,000
6,000
Madras1888
10,000
1,000
16,000
4,000
All others—
15,000
1887
15,000
Total all1888
1887
1,000
6,000
10,000
1,000
16,000
47,000
79,000
126,000
95,000
112,000
207,000
70, ranging from 54 to 88.
The above totals for the week show that the movement from
Helena, Arkansas.—Crops are needing rain in this neigh¬ the
ports other than Bombay is 15,000 bales less than the same
borhood. There has been only one light sprinkle during the
week last year.
For the whole of India, therefore, the total
week, the rainfall reaching eight hundredths of an inch.
Weather too cool for cotton. The thermometer has ranged shipments since January 1, 1888, and for the corresponding
periods of the two previous years, are as follows :
from 56 to 85, averaging 69.
EXPORTS TO EUROPE FROM ALL INDIA.
Memphis, Tennessee.—There has been rain on four days of
the week, the rainfall reaching sixteen hundredths of an inch.
1888.
1887.
1886.
Rains^ have been very partial, light in some sections and
Shipments
to all Europe
This
Since
This
This
Since
Since
heavy in others. Days warm, but nights cool. Crop prosJan. 1.
week.
week.
from—
Jari. 1.
week.
Jan. 1.
3 andare
gects
in general
good. Average thermometer 69, highest
lowest
55.
^
43,000
Bombay
Nashville, Tennessee.—It has rained on four days of the
week, the rainfall reaching one inch and twenty-nine hun¬
dredths. The thermometer has averaged 61, the highest being
All other ports.
Mobile, Alabama.—It has been showery on four days of
the week, the rainfall reaching one inch and forty-two hun¬
dredths. The crop is developing promisingly. The rains have
been general and beneficial. There are some complaints of
cool nights. The thermometer has averaged 71, ranging from
we
82 and the lowest 52,
Total
Exports
634,000
126,000
67,000
786,000
1,000
16,000
207,000
44,000
760,000
83,000
993.000
of
Cotton Goods
60,000
704,000
106,000
60.000
810,000
Great Britain.—Below
from
give the exports of cotton yarn, goods, &c., from Great
Britain for the month of April and since October 1 in
1887-88 and 1886-87, as compiled by us from the British Board
of Trade returns.
It will be noticed that
movement all to pounds.
we
have reduced the
61 to 82.
Montgomery, Alabama.—Telegram not received.
Selma, Alabama.—We have had rain on five days of the
week, the rainfall reaching two inches and three hundredths.
Average thermometer 69, highest 83 and lowest 60.
Auburn, Alabama.—Rainfall for the week two inches and
seventy-five hundredths. Thunder storm on Thursday. The
thermometer has averaged 67*6, the highest being 83 and the
I arnScThread.
Cloth.
Total of AU.
000s omitted.
1887-8. 1880-7.
1887-8.
1880-7.
Yds.
Yds.
1887-8. 1886-7.
Lbs.
Lbs.
October
24,234
23,612
409,907
November...
25,749
December...
24,963
24,478
20.485
lowest 56.
Total 1st qr..
74,946
Madison, Florida.—It has rained on three days of the
week, the rainfall reaching two inches and fifty-five hun¬
dredths. The thermometer has averaged 74, ranging from 62
January
February
21,705
March
23,544
24,061
22,111
21,781
25,963
Total 8d qr..
69,310
00,805 1,383,801 1,295,054 251,510 235,464
to 88.
....
....
Lbs.
Lbs.
74,539
425.505
428,415
422,554
77,370
77,894
76,328
455.815
378,634
82,875
1887-8.
Lbs.
1886-7.
Lbs.
68,342
98,773
103,125
107,838
101,506
101,306
89,3*7
68,575 1,291,347 1,229,603 234,790 223,504
809,736
299,139
119,138
99,990
101,692
102,983
07,709
104,578
535,880
420,452
426,969
444,793
97,433
417,881
432,880
76,440
77,631
80,871
75,978
78,615
320,820 305,960
Macon, Georgia.—Telegram not received.
Columbus, Georgia.—We have had rain on three days of the Total 6 mo*. 144,256 138,380 2,674,648 2,524,057'486,300 459,028 630,556 597,406
23,681 20,938 380,957 •400,780 09,2<$5 72,870
92,940
week, tho rainfall reaching three inches and seventy-nine April
98,828
hundredths. The thermometer has ranged from 57 to 86,
Stockings and socks
1,529
1,348
averaging 70.
Sundry articles
13’887
13,729
Savannah, Georgia.—There has been rain on three days and
Total exports cotton manufactures
738,760 700,471
the balance of the week has been pleasant.
The rainfall
reached one inch and forty-two hundredths.
The foregoing shows that there has been exported from the
Average ther¬
mometer 71, highest 89, lowest 60.
United Kingdom during the seven months 738,760,000 lbs. of
Augusta, Georgia—Early in the week we had heavy gen¬ manufactured cotton, against 706,471,000 lbs. last year, or an
eral rain on three days, doing much good.
The rainfall increase of 32,289,000.
686
THE CHRONICLE.
Manchester Market.—Our report received by cable to-night
from Manchester states that there is no market, owing
to the holiday.
We give the prices for to-day below,
and leave those for previous weeks of this aDd last
year
for comparison:
32.9 Cop.
Twist.
d.
Shirtings.
d.
s.
5
5
5
5
5
27
7916—83,6
7ill6®8%
7H16®8i4
May “4
11
18
25
4‘
“
|71%6'®8%
CotVn
Mid.
8% lbs.
Ap. 20 7^1 p—83m
.4
1887.
329 Cop.
Twist.
Uplds
d.
s.
7 ®7
7 ©7
0
0
7*2®7
7%®7
1
1
7%«'7
1
d.
d.
d.
d.
9
9
9
9
8.
5
5
5
7&16®7ie>,6 5
7&i6®71o,6 5
55,6 75,6®71516
5%
7516®71516
7*>i6®7lbl6
0*16
538
8
7516®71516 5
8
d.
d.
5%
steady and sellers
6j^c. for
quoting 5%@6o. for
are
5%
5l3lf
51316
lbs., 6j4@
The feeling on jute butts is very firm, with
a good demand, and for
paper grades dealers are quoting IJq
©1 15-16c., while bagging quality is held at 2@
Shipping News.—The exports of cotton from the Unitee
States the past week, as per latest mail returns, have reached
48,906 bales. So far as the Southern ports are concerned, these
are the same evnorts reported bv telegraph and nuhh'shed
the Chronicle last Friday.
With regard to New York we
include the manifests of all vessels cleared up to Thursday.
Total bales
New York—To Liverpool, per steamers Baltic, 1,282
City of
Chester, 1,050 ...England, 034
Geimanic, 2,098
Ne¬
St. Ronans, 2,231....Scythia, 2,327
vada, 673
Servia,
1,737.
12,332
To Havre, per steamer La Bourgogne, 1,723
1,723
To Bremen, per steamer Eider, 400
40')
To Hamburg, per steamer Rugia, 108
•.
108
To Amsterdam, per steamer Zaandam, 651
€51
To Antwerp, per steamers Nederland, 100
Rhynland, 782
882
To Barcelona, per steamer Cacliar, 1,050
1,050
New Orleans—To Liverpool, per steamers Cuban, 2,200
Discoverer, 3,439
Haytian, 3,460....Hugo, 5,437
14,536
To Bremen, per steamer King’s Cross. 5,117....
5,117
Norfolk—To Liverpool, per steamer Borinquen, 1,454
1,454
Newport News—To Liverpool, per steamer
;
2,791..
2,791
Baltimore—To Bremen, per steamer Rhein, 2,723
2,723
Boston—To Liverpool, per steamers Michigan, 4,021
Pavonia,
1,318
5,339
Philadelphia—To Liverpool, per steamer Indiana, 451
451
,
Total
.
Cotton freights the past week have been
Satur.
Mon.
lues.
11G
116
Liverpool, steam d. 11JG®5G4
Do
sail...rf.
Havre, steam
Do
c.
sail
c.
Bremen, steam
Do
..c.
sail
c.
Hamburg, steam
Do
sail.
c.
..c.
Amst’d’m, steam. c.
Do via Leith.d.
Reval, steam
Do
....
*4
.
B10
....
932
•
....
•
•
•
....
25*
•••
sail
d.
....
31G
310
7,0
3o2
....
....
81G
3ig
732
332
932
....
25*
....
....
....
....
25*
....
316
316
732
332
"16
S16
732
332
Total stock—Estimated
Of ■which American—Estim’d
Total import of the week
Of which American
Amount afloat
.Of which American
17,000
830,000
601,000
98,000
67,000
111,000
Spot.
1
p.m.
follows
Saturday Monday. Tuesday.
•
•
•
•
5
H
W
Bpeo. A exp.
O
ts
ts
Futures.
PB
P
Market,
12:30
p.m.
Market,
4 p.m.
0
H
0
932
.
.
.
.
'
932
....
25*
j
{
S
31G
316
732
732
*32
332
316
3ig
Mai/18.
4,000
2,000
46,000
1,000
36,000
9,000
18,000
780,000
561,000
32,000
8.000
23,000
125,000
62,000
13,000
773,000
558,000
54,000
41,000
107,000
47.000
11,000
15,000
767,000
554,000
4 5,000
29,000
119,000
56,000
:
;
Wednes.
57ifi
8,000
500
▼ance.
•
•
d.
5 24
5 25
5 25
5 25
5 25
5 24
5 24
5 24
5 24
5 24
5 25
5 25
5 25
5 25
5 25
5 25
5 24
5 24
July-Aug
5 24
5 25
5 24
5*5
5 25
5 26
5 25
5 20
5 25
5 25
5 25
5 25
5 24
5 24
5 24
5 25
5 25
5 25
5 25
5 24
624
5 24
5 24
5 24
5 24
5 24
5 24
5 25
5 25
5 25
5 25
5 24
5 24
5 24
5 24
5 14
5 14
5 14
5 14
515
5 15
5 15
5 15
5 14
5 14
5 14
5 14
5 09
5 10
5 09
5 10
5 08
5 08
5 08
5 08
..
Oct.-Nov...
Nov.-Dec...
5 24
5 24
..
Ang^Sept
September.
Sept.-Oct
!
510
510
5 10
5 10
5 10
5 10
5 09
5 09
509
5 09
5 09
5 09
5 08
5 08
5 07
5 CT
BREA D S TUFFS.
Friday, P. M., May 25,1888.
The flour market has been inactive, and
prices have lost pi^fc
of the advance noted in our last.
The local dealers as well
shippers have limited their purchases to their urgent needs,
while the reaction in wheat which took
place early in the
week caused some speculative holders to become anxious to
realize.
Yesterday the market was steadier, and
as
to-day there
buying at the revised quotations.
The wheat market has been
very active" in its speculative
aspects, and values have fluctuated widely. Better weather
in the
Northwest, improving the prospects for the growing
crop, caused free selling to realize. But on Thursday un¬
favorable reports were circulated regarding the
prospects of
the California crop, and values recovered. To
day there was
a further rise,
the result of speculative manipulation at Chicago,
was
freer
but the close
at the
was
flat.
Wheat
on
the spot was more salable
decline, both for export and milling; still, business was
To-day No. 1 spring brought about 97c. afloat.
not active.
Sat.
97
Mon.
94 %
9738
95%
93=14
96
96
93 78
9 6*2
98%
1*0238 1*0038
Tues.
Wed.
Thurs.
9434
94^8
953s
95
94 %
93*8
93%
963s
1 003a
95%
93*8
953b
95*2
98i0
l*02i4
9334
9638
1*00%
Fri.
95’4.
95 7b
953*
95%
98%
102%
declined sharply early in the week, under freer
receipts at the West and the larger quantity afloat for British
market-?; but soon recovered, and yesterday was active and
buoyant. To-day, however, with unfavorable foreign advices
corn
the market
dull and weak.
was
DAILY CLOSING PRICES OF NO.
Sat.
65
delivery.
Oats
62%
62%
62%
6 %
623b
_
2 MIXED CORN.
Tues.
63
6 i
%
63%
63 %
63%
Wed.
Thurs.
63%
63%
63%
63%
....
Fri.
64
64
64
63%
63%
63%
63%
63%
63%
....
depressed early in the week, in sympathy with
but have latterly shown a hardening tendency, although
and speculation were alike dull, and the close is unset¬
corn,
trade
tled.
Mon.
65%
65%
65%
September delivery
October delivery
were
,
Steady.
Jane
delivery
July delivery
The
following
are
Friday.
Hardeni’g
tendency.
53a
5716
Steady.
8,000
57ia
8,000
500
500
Steady,
Quiet.
Very
Quiet.
steady.
Wed.
Thurs.
3734
38%
38%
Fri.
39
38%
34 %
39
34
3914
39%
34
35
3338
33%
34
35
34
the closing quotations:
9 bbl. $2 40®$3 10
Sapcrflne.
Spring wheat extras.
Minn, clear and stra’fc.
Winter shipp’g extras.
WinterXXandXIX.
Patents
Southern supers
2 80®
3 20®
3 90®
3 30
3 45
4 85
3 25® 3 55
3 75®
4 70®
4 80
5 25
3 15 ® 3 30
South’n com. extras..
Southern bakers’ and
$3 40® 3 75
family brands
3 85 ® 4 85
Rye flour, superfine.. 3 40® 3 65
Fine
Corn meal—
Western,
Brandywine
2 40®
2 65
3 30® 3 50
3 §0® 355
GRAIN.
Wheat—
Bed winter No. 2...
Bed winter
White
Corn—West’n mixed.
WestTninixedNo^.
538
Tues.
FLOUR.
Fine
...
Thursday.
Mon.
3734
38%
3334
334
3938
39 %
3534
3412
Spring, per hash...
Bpnng No. 2
•
■
5 24
Sat.
Mag 25.
•
I
5 24
5 23
Jane
4,000
3.000
1-64 ad•
5 24
5 24
....
Quiet at
•
5 25
5 24
....
P
)
5 25
5 24
Indian
....
7,000
5%
Bales
5 25
.
28,000
Steady.
Mid. Orl’ns.
5 25
.
48.000
J
Mid.Upl’ds.
d.
5 24
u
•
Market, )
12:30
as
<L
6 23
.
Liverpool market for spots and futures each
day of the week ending May 25 and the daily closing prices
spot cotton, have been
d.
5 24
5 23
May
May-June.. 5 23
June-July.. 5 24
....
The tone of the
of
d.
.
66,000
18,000
48.000
d.
DAILY CLOSING PRICES OF NO. 2 MIXED OATS.
Mag 11.
79,000
4,000
6,000
61,000
10,000
d.
,i
previous weeks for comparison.
Bales of the week
bales
Of which exporters took....
Of which speculators took...
Bales American
Actual export
Forwarded
d.
116
'
Per 100 lbs.
Mag 4.
d.
..
Liverpool.—By cable from Liverpool we have the follow¬
ing statement of the week’s sales, stocks, &e., at that port.
We add
Open High Low. Clos.
d.
2112S1164 21l£?S1164
....
Fri*, Mny 25*
d.
Fri.
y32
°32
....
25*
25J
....
....
®32
.
....
932
Thurs., May 24.
DAILY CLOSING PRICES OF NO. 2 RED WINTER WHEAT.
h
....
932
....
9S 2
....
*4
....
5.6
....
....
*4
.
11G
Wednes., May 23.
:
Thurs.
J16
....
h
mmmm
Wtdnts.
d. 2112S~310 2112Sn64 21128HG4 21i:s
Barcelona,steam d.
Genoa, steam.. .d.
Trieste, steam...d.
Antwerp, steam d.
*
....
follows
as
49,557
mean8
4 63
thus:
Saturday, Monday and Tuesday—Holidays.
d.
51%6
10
10
and QUhs
Open High Low. Clos. Open High Low. Cl08.
lbs., 6%dr7c. for 2 lbs. and 7^£@7J4c. for stand¬
ard grades.
TW The prices are given in pence
4 G3-64cf., and 5 01 means 5 l-64d.
5%
Jute Butts, Bagging, &c.—There has been a good demand
for bagging and a fair amount of stock has been taken. Pieces
are
otherwise stated.
Uplds
10%
10%
10*2
10*2
s.
®6
®6
©6
©6
©6
©6
opening, highest, lowest and closing prices of futures at
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
Mid.
Shirtings.
d.
-
CotVn
8*4 lbs.
The
;
1888.
[VOL. XIAI.
Steamer No. 2
Western yellow...
Southern white....
92
91
97
Rye®1 00
®
95
®
98
®1 00
®1 00
®
67
92
93
63
65 *4®
66 %
65%
State A Pa., 13 bush.
Oats—Mixed
White
No. 2 mixed
No. 2 white
®
37 %»
42ia®
38 %®
43 V®
74
41
46
39%
44%
Barley—
64
©
67
Canada No. 1
Two-rowed State
Six-rowed State....
65
m
68
Malt—State, 4-rowed.
64%®
69
State, 2-rowed
®
®
®
....
....
97
®1 00
90
®
94
The movement of breadstuffs to market is indicated in the
statement below, prepared by us from the figures of the New
York Produce Exchange. We first give the
receipts at West¬
ern lake and river
ports, arranged so as to present the com¬
parative movement for tho week ending e!fclay 19, 1888, and
since
August, for each of the last three years:
.
THE
Mat 26, 1S88.J
I
Wheat.
Flour.
JReceipts at—
The exports
Bye.
Barley.
Oats.
Corn.
reason are as
Bbls.imbs Bush.60 lbs Bush. 56 lbs Bush. 32 lbs Bush. 48 lbs Bu. 56 Ibf
17.313
49.577
1,402,162
1,043.201
120,627
115,129
Chicago
Milwaukee...
23,870
4,573
3,755
3,862
14,640
1,950
Detroit
Cleveland...
Bt. Louis
Peoria
94,777
23.600
39,595
60.000
3,110
100.901
9.686
17,133
26,736
9,100
26.477
6,778
3,300
98.537
9.500
230.490
213.575
19,200
11
150,400
254,500
9,600
4,400
220
233,979
993.101
wk.’87.
Same wk.’86.
Since Aug. 1.
249.535
1,697,137
1,583.885
944,154
144,623
902,064
909,002
1.993,130
128.048
25 090
1,850.720
1,770,300
158,790
23,101
34.422
113,343
1887-8
1O.OS0.S64
96,417,8S0
70,892,602
8.995,920
75.993.732|
71.553.008
62.043,9S9
50,038.433
22,198.914
2*0.928,924
1,841,990
1886-7*
1885-6*
.7,025,713
78,377,470
49.930.319
19.057.351
2.685,993
*
Include
To United Kingdom
To Continent
one
51,740,552!
1.842,159
week extra.
*
Total
THE
Tot.wk. ’88.
Week
tnd'g Week end'g April 1 to
May 12.
May 19.
May 19.
se
9.513
16,017
53.009
546,030
Same
of wheat from India for the week, year and
below:
Exports of Wheat from India.
49,930
60,702
Minneapolis.
687
CHRONICLE
bush.
500.000
440,000
1,700,000
bush.
610,000
800,000
3,600,000
bush.
1,140,000
1,240,000
5,300,000
GOODS TRADE.
DRY
Friday P. M., May 25,1888.
Business in the wholesale branches of the dry grooia trade
New York,
was
comparatively quiet the past week, unfavorable weather
conditions having seriously checked the demand for consump¬
tion for many sorts of seasonable goods, while it is yet to oearly
for distributors to make general provifion for the fall trade.
The commission houses were, however, enabled to effect
liberal sales of some descriptions of staple cotton goods—wide
shipments from Western Lake and river sheetings in pirticular—by means of lower prices and time
concessions, which induced large buyers to anticipate future
ports for last four weeks were:
requirements to some extent. Domestic woolen goods ruled
Week
Flour
Wheat,
Corn,
Barley,
Bye,
Oats,
ending—
bbls.
bush.
bush.
bush.
bush.
bush.
quiet as regards new business, but there was a steady move¬
85,902 36,432 ment in clothing woolens on account of former transactions.
May 19/88. 526,7«"4 2,037,799 1,564,735 1,452.608
May 12,’88. 442,600
981,161 2,091.386 1,492,219 109.266 80,291
May 5/88. 444.479 2,347,579 4.386,708 1,956,026
113,584 52,463 Foreign goods were mostly dull in first hands, and there was
561,490 718,225 1,230,263 100,527 41,649 considerable pressure to force sales of laces, embroideries, &c.,
Apr. 28/88. 45S,349
through the auction rooms. It was announced in the fora
Tot. 4 wks.. 1,872,182 5,928.029 8,761 051 6,131.206
409.279 210.835
4 wk3 1887.1,348,611 9,573,195 9,480,725 3,796,977
251,761 54,938 part of the week that two large trade sales of wool flannel®
will be held on the 29th and 31st instant, and the importance
The receipts of flour and grain at the seaboard porta for the of these offerings will doubtless cause a great influx of out-oftfeek ended May 19, 1883, follow:
town buyers the coming week.
Theee auction sales might
suggest the idea that there is a redundant supply of flannels
Bye
Barley,
Corn,
Oats,
Wheat,
Flour,
bush.
bush.
bush.
bush.
bush.
bbls.
At—
on hand, but such is not the case, the fact being that buyers
550
192,000
706,632
New York
106,667
173,296
now look for annual sales of these goods as a matter of course,
500
500
93,624
145,220
Boston
51,566
and there is really no unfavorable relation of supply and
5.968
173.099
Montreal
75,286
15,509
The rail and lake
m
Philadelphia...
19,861
Baltimore
Richmond
Norfolk, Va
New Orleans...
58.144
3.39 6
28,338
148,786
90.961
107.083
133,454
58,862
5,042
6.789
30
6,110
4.769
1/82
179,302
3,196
51,490
Total week. 270,713
477.501 1.387,951
Cor. week ’87.. 274,770 3 ,719,178
807,418
570.608
636,406
3,794
11,773
49,413
5,670
6,122
91,639
Bush.
Bush.
New York
Boston.
Portland.
Montreal
Philadel
Baltim’ie
N.Orl’ns.
N. News.
124,096
299,036
10.967
16,539
300
..
16,002
.
Riclim’d
17,817
191,268
92,510
67,875
Oats.
Bye.
Peas.
Bush.
Bush.
Bush.
Flour.
Corn.
Wheat.
Bbls.
58.212
2,927
1,997
36,502
8,693
1,643
5,171
13,363
89,077
847
2,714
.
*
Tot. w’k.
327,980
B’me time
1887... 2,824,972
508,421
202,859
1,997
460.458
161,374
56,201
16,290
25,990
85,266
supply of grain, comprising the stocks in granary
principal points of accumulation at lake and seaboard
ports, and in transit by water, May 19, 1838 :
The visible
at the
bush.
1,514.138
15,400
Albany
But! alb
Chicago
Milwaukee
Duluth
Toledo
Detroit
499,064
4 697,729
1,691,579
7,433,970
752,663
417,774
40.000
Oswego
33t. Louis...
“
469,415
afloat
Cincinnati
Boston
14,000
20,771
66,220
421,181
Toronto
Montreal
Philadelphia
Peoria
Tot. May 19/88.
55.000
48,100
118,877
299,331
3.525.838 1,165,135
14,511
6,592
203,145
6,87 6
91,852
35,267
14,677
8,116
319.447
39,000
17,000
16,938
5,884
31,735
50,226
1,434
1,265
7,000
39,000
82,767
19,731
46,639
119,329
310,90 L
97,489
40,480
1,120
515
3,950
6S.3 49
7,999
7,960,049 4,518,697
1,423
51,600
11,900
261,640
242,388
345,045
4S3.588
673,888
221.193
375.834
3**2/056
369,184
302,305
Minneapolis and St. Paul not included.
follows:
To United Kingdom..qre.
To Continent
Total quarters
Equal in bushels
Bameweek in 1887.-bush.
Wheat.
|
23.
Corn.
2,295,000;
369,000
419,000;
57,000
426,000
2,7 i ! ,')U0
21,712.000 3,408,000
18.976,000 3.080,000
37,000
1887.
10,000
214,000
None
5,000
47,000
50,000
52,000
Total stock (pieces)
1886.
May 21. May 22.
1(>3,000 99,000
67,000
165,000
30,000
1885.
Mav 23.
434,000
373,000
324,00 J
30u,000
411,000 361,000 1,431,000
conaigatre.
864,373
763,900
Week ending May
Hold by Providence manufrs..
Fall River manufacturers...
Providence speculators
Outside speculators (eat)
May 19.
19,688.000 2.760,000
39,300
1.066,800
416,700
Passage.
1888.
Clothe—
22,056,000, 2,784,000
209,300
2,092,329
36,328
2,067
According to Beerbohm’s London cablegram, the amount of
wheat and corn on passage at the dates mentioned stood as
on
follows:
prints, ginghams, sateens,
were in steady but moder¬
lawns, seersuckers, cliambrajs,
ate demand, and stocks are sd small that prices remain steady.
Domestic Woolen Goods.—I he situation in the market for
men’s-wear woolens has not materially changed. Thedemand
for cassimeres, suitings, worsteds, &c., by the clothing trade,
was strictly moderate, but there was a very fair movement in
these goods and in overcoatings in execution of back orders,
and really desirable makes ruled steady in price.
Cloakings
were in irregular demand by jobbers and the manufacturing
trade, and a fair business in stockinets and Jersey cloths was
done by the commission houses.
Satinets were fairly active
in movement, but quiet in demand, and moderate dealings in
Kentucky jeans and doeskins were reported. All-wool and
worsted dres3 goods of a staple character were in fair request
for next season, but fancy styles were mostly quiet.
Funnels
were very quiet, owing to the impending trade sales alluded
to above, and there was a moderate business in blankets at
somewhat irregular pric- s.
Foreign Dry Goods.—Owing to the quiet condition of tha
retail trade in this locality and elsewhere, because of unfavor¬
able weather, there was a very light dem .nd for imported
fabrics, selections having been governed by the most pressing
requirements.
The auction rooms were well supplied with
dress goode, silks, laces, embroideries, hosiery, &c., and very
fair quantities were disposed of in this manner, but at prices
which probably left little, if any, margin of profit to tha
12/88. 29,271.771 6,924,504 4,108,084
21/87.. 43.018.839 13.214,537 3,7/7,909
Tot. May 22/86*. 37,813.771 7,814,500 1,523,960
Tot. May 23/85*'- 36,768,106 5,022,209 2,185,839
Grain
were as
Stock of Print
60.000
Tot. May
Tot. May
*
13,500
76,993
103,437
3,281
21,162
29,022.228
9,048
173,950
6.972,723
962,000
bush.
1,744
90,000
9,45 4
410,61)2
29,881
Barley,
8,000
51,000
26,866
27,140
20.000
132.287
19,907
137.731
aod'ooo
On Mississippi....
On Lakes
On canal & river.
6,300
31,961
54,827
.
503,769
45.355
Haiti in nrp*
fit. Paul
Bye,
bush.
8 854
bush.
bush.
458.903
135,976
2,813
Indianapolis
Kansqs City
Minneapolis
Oats,
Com,
Wheat,
In store at—
New York
Do
afloat
valued at $156,426. These shipments include 1,363 to
China, 736 to South America, 203 to Mexico, 112 to the West
Indies, 43 to Central America, 28 to Europe and 21 to all other
countries.
Since the 1st of January the exports aggregate
64,510 packages, valued at $3,915,425. Of this total Caina has
had 27,462 packages, valued at $1,396,385, and 12,030 packages,
valued at $800,251 have gone to Sauth America.
For the
similar period of 1887 the exports to all ports were 83,125
packages, valued at $4,820,829; of which 46,838 packages,
valued at $2,192,752 went to China; and 14,413 packages,
valued at $1,031,021, to South America.
To the same time in
1886 the total shipments reached 86,730 packages, and in 1885
were 67,193 packages.
There was an irregular demand for
staple cotton goods at first hands, and the volume of business
was mod-rate.
Brown sheetings and dri Is were in fair
request and steady in price, and bleached golds were dis¬
tributed in moderate quantities at unchanged quotations.
Wide sheetings were ininegular demand, bat liberal sales of
the finer grades were effected by means of price cancessions,
and prices of such makes as Pepperell, Laconia, Androscoggin
and Mohawk Valley were restored by agents, the stock j on
hand having been closed out.
Cor es jeans, sateens, cotton
flannels and flat-fold cambrics continue in meagre supply and
firm.
Colored cottons, as denims, ticks, chevoits, &c., were
in light request and somewhat iu buyers’ favor, despite the
moderate stocks on hand.
Print cloths were in good demand
and closed firm at 3 ll-16c. for 64x94s and 3 5 16@3?£c. for
56x60s.
Stocks last Saturday and for the three previous years
ages,
The exports from the several seaboard ports for the week
ending May 19, 1888, are shown in the annexed statement:
JExports
from—
demand.
Domestic Cotton Goods.—The exports of cotton goods
from this port for the week ending May 22 were 2,504 pack¬
Week
ending May 16.
Wheat.
Corn.
2,261,000
496,000
321,000
2.757,000
348,000
27,000
Patterned
cotton
fabrics,
as
THE
688
The
Company
r
Authorized to act
Guardian, Receiver,
Executor, Administrator,
Trustee, and is
as
or
A LEGAL DEPOSITORY FOR MONEY.
Accepts the transfer agency and registry of stocks,
and acts as Trustee of mortgages of corporations.
Allows interest on deposits, which may be made
at any time, and withdrawn on tlve days’ notice,
with interest for the whole time they remain with
the company.;
For the convenience of depositors this company
also opens current accounts subject, in accordance
with its ruleB, to check at sight, and allows interest
upon the resulting daily balances. Such checks pass
through the Clearing House.
Wm.
Whitewright,
Henry A. Kent,
R. T. Wilson,
Wm. F. Russell,
C. D. Wood,
James N. Platt,
D. C. Hays.
TRUSTEES:
James M. McLean,
Ambrose C. Kingsland,
James H. Ogilvie,
S. T. Fairchild,
I. H. Frothingham,
George A. Jarvis,
C. Vanderbilt,
A. A. Low,
G. G. Williams,
Wm. Alex. Duer,
Charles H. Leland,
Edward King,
E. B. Wesley,
D. H. McAlpin,
George B.
Edward Schell,
Amasa J. Parker,
Samuel F. Barger.
Geo.
Geo. c.
< \ Magoun,
Mago
Chauncey M. Depew,
H.YanRennsel’rKennedy.W. Emlen Roosevelt.
EDWARD KING. President.
JAMES M. MCLEAN, First Vice-Pres’t.
JAMES II. OGILVIE, Second Vice-Pres’t.
RONALDSON, Secretary.
A. W. KELLEY, Assistant Secretary.
United States Trust Co.
OF NEW
YORK,
No. 49 WALL STREET.
CAPITAL AND SURPLUS, - 37,000,000
This oompany is a legal depository for moneys
paid into court, and is authorized to act as guardian
trustee.
INTEREST ALLOWED ON DEPOSITS,
which may be made at any time and withdrawn
after five days’notice, and will be entitled to inter¬
est for the whole time they may remain with the
or
company.
Executors, administrators, or trustees of estates,
and lemales unaccustomed to the transaction of
business, as well as religious and benevolent institu¬
tions, will iind this company a convenient deposit¬
ory for money.
JOHN A. STEWART, President,
GEORGE BLISS, Vice-President,
JAMES S. CLARK, Second Vice-Pres’t.
TRUSTEES:
Wilson G. Hunt, H. E. Lawrence, Wm. Libbey,
Clinton Gilbert, Isaac N.Phelps, 1 John C. Brown,
Daniel D. Lord,
Samuel Sloan,
James Low,
Wm.W.Pbelps,
1). Willis James,
John J, Astor,
John A. Stewart,
This company ia authorized by special charter to
act as receiver, trustee, guardian, executor or adminIstrp tor.
It can act as agent in the sale or management of
real estate, collect interest or dividends, receive re¬
gistry and transfer books,
or
BANKERS,
No.
113
Capital, Fully Paid,
THIS
COMPANY
- - - -
TRANSACTS
$1,000,000
A
Joslah O. Low,
E. F. Kn owl ton, H’v K. Sheldon,
Alex. M. White, John T. Martin, C. D. Wood,
A. A. Low,
Fred. Cromwell, Wm.H. Male,
Alex. McCue,
John P. Rolfe,
Ripley Ropes,
Mich*1 Chauncey, E. W. CorUes.
Abram B.Baylis,
Wm. B. Kendall. H. E. Pierrepont, H. W, Maxwell,
James Ross Curran, Secretary
Frederick C. Colton. Asst. Stc’y.
Receives money on Deposit, subject to check, and
allows interest on balances.
All Checks pass through the Clearing House.
Makes Investments of Money, acts as Executor
Administrator, Guardian, Trustee, etc.
Also, as Registrar and Transfer Agent.
An authorized Depository for Court and County
Treasurers’ Funds.
American Association
Qeorge S. Hart,
Alexander G. Black,
Wallace C. Andrews,
John I. Blair,
William P. Anderson,
Jules Aldige,
John D. Kimmey,
John Ross,
Charles Parsons,
George A. Evans.
Granville P. Hawes.
James S. Thurston,
Benjamin F. Tracy,
John S. Silver,
Thos. K. Goodrich,
Payson Merrill,
Herman Clark,
Thomas C. Platt,
John P. Townsend,
O. D. Baldwin.
Metropolitan Trust Co.,
3f
all Street, New York.
PAID-UP CAPITAL, - - $1,000,000
Designated as a legal depository by order of
Supreme Courts Receive deposits of money on
interest, act as fiscal or transfer agent, or trustee
for corporations, and accept and execute any legal
trusts from persons or corporations, on as favorable
terms as other similar companies.
THOMAS JflLLliOUSE, President,
FREDERIC 1). TAPPEN, Vice-President,
CHARLES M. JESUP, Secretary.
YORK
AND
Municipal, State, Railroad
and United States Bonds.
Irving A. Evans & Co.,
BANKERS AND BROKERS,
No.
53
STATE
The business and objects of this Society are to
associate into a Society or Guild, the best and
most capable Public Accountants practicing in
the United States, and through such Association to
elevate the profession of Public Accountants, as a
Stocks and
STREET,
of‘strict rules of conduct
as
a
condition of
membership.
OFFICERS:
President—JAMES YALDEN, New York.
\ ice-Pres.—JOHN HEINS, Philadelphia.
Sec.-JAMES T. AN YON, New York.
Treas.-WM. H. VEYSEY, New York.
COUNCIL.
James T. Anyon, N. Y.
Mark C. Mirick, N. Y.
Louis M. Bergtheil, N.Y. Rodney McLaughlin, Bost.
William Calhoun, N.Y.
C. H. VV. Sibley, N.Y.
George H. Church, N.Y. William H. Veysey, N.Y.
John Heins,Philadelphia. Walter H. P. Veysey N.Y.
James Yaldeu, N.Y.
FELLOWS OF 'lHE ASSOCIATION.
James T. Anyon, Louis M. Bergtheil. Thomas
Bagot, James Cox, William Calhoun, George H.
Church, C.W. Haskins, R. F. Munro, Mark C. Mirick,
C. H. W. Sibley. Henry M. Tate, William H.Veysey,
Walter H. P. Veysey, James Yalden, New York;
Richard F. Stevens, Jersey City, N. J.; Horace D.
Bradbury, Rodney McLaughlin, Henry A. Piper,
Boston, Mass.; John W. Francis, John Heins, Henry
Kelly. Philadelphia, Pa.; Eric M. Noble, Washing^
ton, D. C.
NEW YORK AND
STOCK EXCHANGES.
Association, No. 120 Broad¬
Room 51 (6th Floor), New York City
Bonds
Bought and Sold
Ioshua Wilbour,
Charles H. Sheldon, Jr
Benjamin A. Jackson, William Binney, Jr.
Wilbour, Jackson & Co.,
BANKERS AND BROKERS,
No.
52
WEYBOSSET
STREET,
PROVIDENCE, R. I.
Dealers In Commercial Paper, Government and1
other first-class Bonds and Securities and Foreign’
Exchange.
Private telegraph wire to New York and Boston..
Rea Bros. &
Co.,
BANKERS AND BROKERS,
AND DEALERS IN FOREIGN
125 Wood
EXCHANGE,
Street, Pittsburg, Pa
MEMBERS
New York and Philadelphia Stock Exchanges.
Pittsburg Petroleum, Stock and Metal Exchange.
Private wires to New York, Boston, Philadelphia^
Baltimore and
Washington.
E. W. Clark &
Co.,
BANKERS AND BROKERS,
Offices of the
way,
BOSTON,
In all Markets.
whole, and demonstrate their usefulness by compel¬
ling an examination as to fitness, and the observ¬
ance
OF
PHILADELPHIA
Incorporated TAugust 20, 1887, Under the
LawsIandlStatutes of the State of
No. 139 [South [Fourth
l*hiladelphia>
St.,
Railroad, Municipal and other desirable invest¬
ment Securities for sale.
A. L.
Transact a general banking business. Allow Inter¬
on deposits.
Members of the Philadelphia and New York Stock
Exchanges, and connected by private wire with New
Hartridge
GA.,
est
SAVANNAH,
SECURITY
York.
BROKER.
Buys and sells, on commission all classes of Stocks
and Bonds
Negotiates loans on marketable securities.
New York Quotatians furnished by private tioker
Wm. G.
28
South
AND
DEALER
IN
Third
Street,
PHILADELPHIA.
Humphreys Castleman,
BROKER
Hopper & Co.,
BANKERS AND BROKERS,
ATLANTA.
ALL
KINDS
Direct ’Private Wire and
to
Long Distance Telephon
Harris, Fuller & Bickley, Nevj York.
OF
SECURITIES.
PA.
PITTSBURGH,
Bonds and Stocks bought or sold on commission
Georgia and Alai ama Securities specially dealt in.
ESTABLISHED
1871.
Correspondents —Tobey A Kirk and A.Dutenhofer
New York.
References— Atlanta National Bank,
and Fourth National Bank. New York.
Atlanta,Ga.
Whitney & Stephenson,
BANKERS AND BROKERS,
Wilson, Colston & Co.,
BANKERS AND
President.
GEO. A. EVANS, Vice-President.
J. S. THURSTON, Sec. & Treas.
John L. Macaulay,
Rowland N. Hazard,
NEW
EXCHANGES.
ALSO,
<f EMBERS
PUBLIC ACCOUNTANTS.
O. D. BALDWIN,
DIRECTORS
THE
STOCK
BOSTON.
GENERAL
LOAN, TRUST & FINANCIAL BUSINESS.
OF
BOSTON
deal era In
TRUSTEES.
Co.,
BROADWAY, NEW YORK.
STREET,
BOSTON.
tf EMBERS
jT'rvflftnpn mlnnton.
American Loan & Trust
CONGRESS
make purchase and sale
Religious and charitable institutions, and persons
unaccustomed to the transaction of business, will
And this Company a safe and convenient depository
for money,
RIPLEY ROPES, President.
EDMUND W.CORL1ES, Vice-Pres’t.
Erastus Corning,! Edward Cooper,
S. B. Chittenden,i W.B’y’rdCutting
J obn H. Rh oades,) Chas. S. Smith,
Anson P. Stokes,! Wm.Rockefeller,
Kobt.B.MiDturn,j Alex. E. Orr,
Geo. II. Warren.i Wm.H.Macv.Jr.,
George Bliss,
[ Charles E. Bill,
Wm. D. Sloaue.
HENRY L. TIIORNELL, Secretary.
'
LOUIS G. HAMPTON, Assistant Secretary.
35
of Government and other securities.
New York.
EXECUTIVE COMMITTEE:
Wm. Whitewright,
G. G. Williams,
James McLean,
E. B. Wesley,
Geo. C. Magoun,
C. D. Wood,
D. C. Hays,
A. C. Kingsland.
A. O.
Brooklyn Trust Co., Brewster, Cobb
& Estabrook>
OF
R. G. Remsen.
Carhart,
Hankers and growers.
Cor. of Montague and Clinton fits.,Brooklyn, N.Y.
CAPITAL (all in U. 8. Bonds) - 31,000,000
OF NEW YORK.
73 Broadway, cor. Rector St.,N.Y,
CAPITAL,
$1,000,000
SURPLUS, ...
3,000,000
fVoL. XLVI
Trust ©orap antes.
^rust ©onxpatxtes.
Union Trust
CHRONICLE.
(Memb
No.
57
FOURTH AVENUE.
Oldest Pittsburgh members N.Y. Stock
Exohange.
BROKERS,
of Baltimore Stock Exchange),
H. B. Morehead.
Wm. FairlbyI
BALTIMORE.
(INVESTMENT and SOUTHERN SECURITIES
a
specialty.)
Correspondence solicited
and
information fur
nished.
N, Y. Correspondents—McKim Brothers & Co.
H. B. Morehead &
No. 51 West Third
TIIOOTAS BRANCH & CO.,
BANKERS
AND
COMMISSION
RICHMOND, VIRGINIA.
on funding the debts of
Virginia and North Carolina free of cost; one-eighth
per cent charged for funding. Southern Railroad
and State and City Bonds bought and sold.
Street,
CINCINNATLIOHIO
MERCHANTS,
Circulars and information
Co.,
STOCK, BOND AND NOTE BROKERS,
N. W. Harris &
Co.,
CHICAGO and BOSTON.
DOKIhC of Counties, Cities, Ac., of high grade a
pUrMUo specialty. Send for Descriptive Lints.
Robert Garrett &
Sons,
BANKERS,
No.
7
SOUTH
C. W. Branch & Co.,
BANKERS AND BROKERS
STREET,
8TATE BANK BUILDING
BALTIMORE,
A
GENERAL
TRANSACT
FOREIGN BANKING
DOMESTIC
BUSINESS.
RICHMOND,
AND
VA.
Private wires connecting with Washington, Balti¬
more
Philadelphia and New York
@FedFRASER