Full text of Commercial and Financial Chronicle : May 8, 1897, Vol. 64, No. 1663

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

[Entered a ccord in g to A ct o f Congress, in the year 1897, by the W il l ia m B. D ana Co m p a n y , in the offioe o f the L ibrarian of Congresr.
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V O L. 61.

SA T U R D A Y , M A Y

% lx z

(^ h x o n id z .

PINE STREET. N. W. CORNER OF PEARL STREET. N. Y.

C L E A R IN G

H O U S E R E T U R N ».

For the m onth o f A pril anil the fou r m onths the exhibit is as f o l­
io w s :
April.

Fmr Months.

8, 1897.

The week’s total for all cities shows a loss of 15 7 per cent
from 1896. The decrease from 1895 is 21-2 per cent an i the de­
cline from 1894 is 8-3 per cent. Outside of New York the
decrease compared with 1896 is 9 6 per cent, the loss from
1895 is 147p. c., and the loss from 1894 reaches 8-4 p. c.
Ulearings at—

Week ending M a j, 1.
1897.
1897.
1896.
1S95
1804.
P. Cent.
t
f
*
492 572,280 612,727,90?
—19 6 664 607+8 J £30.507,901
52 4-4.1 56
61-241+79 —128
71.111,,X
O 61 040.298
13+00 7i0
10,434+54 -1 8 6
J4.rtri( ,4C2
13,850.354
12.041,816
14 I-S2 633 -1 9 4
13.013.492
13 859 082
3,200.005
3.811+3$ —10 3
4.0 3.864
3.771285
1,6.25+08
1,8.8 2rt2 —11 1
1.9+5.434
1,072 4P2
1,45 +2d
1.03H.5 ’0 -11*2
1.68\9-4
1.058 235
t*9.5S >
+3 6
858 8 6
977,100
91.1,048
7i*3 *50
743,085
+6-7
751 899
070 122
660,400
600.254
—L 3
71*1.458
699,162
317.506
31O.20j
-0 3
381.600
378,100
5'9,342.502 715.174,41$ —19 0 774,588.042 634 9P2.7.9
83,7. 8.633 90+69 350
—1*4 -104,141 361
5.125 500
4,345.000 +17 9
5,3x2 300
2,2i:7,400
8-3 1
2.,0O.62->
2 407,6*28
1,271 t0i
1 48 .,600 -U*5
1 611.Hll
1,275 122
*
1,691,182 —19 V
l.tti 2 771
8-6 8
1.322,3? 2
1 410.2 3
1,110 778
-0 l
1.1*1.48.*
1.201.424
7K 299
5
022. f.02
-3 3
l.l l 8+20
001,317
6-4.121
— 4
3
7(.(8+5'<
419,202
403+84
502,314
101,053.7.7 104,907.797
-0*9 120,000,612

P.Ct
1890.
I
1896.
P. Ct
1897.
■New Yor*.............
f
t
f
1
6
New York...... 2,249.761.759 2.313.455+25 — 0 9 271.354.814 9,615.117,317 -3*9 I Philadelphia.........
«
Philadelphia.. 263,"0 <.169 272.001+13 — *J 1,0)0.002.24’ 1.092,2 9 Mi —
S*t Pittsburg...............
2*1.148,511
257,0^0.00 * — 1 Baltimore..............
2*5
Pittsburg......
6 '.230.0*5! 7rt,110+52 -9*4
59,520,830 57.0J0.3U 4-4*3 241,150,102
Baltimore.....
230,081,925 10 7 Buffalo.......... ........
0<
14+91 + 10 17+67,2-5 —1 * <
Buffalo .........
01,820.419
7'’.31)7,09“ —12 1 1 Washing nu..........
8.289.85i|
30.324,735
Washington .
0,535 510 —3*.,
33.5*0,2 *5 — : Rochester..............
y*7
6.4 l9.2-12f
0.5i’0.l7*2 —2*7
21.9^5+4 4
2d.5l«+7v - 5 - Syracuse................
Rochester •
•
4.170,71 i --•1
15+29.244
1*1,919 *72 —7*0 : Scranton..............
Syracuse ......
3.875+34;
3,292,59#*| rt.0S *.027 -10 0
Soranton.......
13 Ki8'<4
1-1.M 8I1 —1*2 ; Wilmington,.........
9
10,9 9.403
Wilmington ..
2.801.8821
3.25 *332 -12*2
12,385.115,—11 5 Binghamton ........
1,467+0" | 1.458 2 0 +0*7
*>
6.42“.lOO
5.740,400 —5*8 I Total MU le. ...
Binghamton..
Totai Middle 2 609.7' 8.o43 2 811.23 ,408 —3*0 10,926.374.0M 11,413.758+5 —i*3
*
Boston........
102+09.8?0! 281+20011 4 4*7 1,68 U 95.729 l.465,BRl.69l| + i-l I Providence............
22.rt2.M0O; 22,270,2“ +02
Providence...
U , 20.5* ‘
O
8* 070 30) +-2 9
42,445.08]
Hartford......
1M51+72
10.98S+50 -7*7
43,380.2^2! —2.3
3>
0,1 85,55s
New Haven.
6.320+51 —
2 ,4 17,193
25.494.8 7 - 0 3 1 Springfield.............
Springfield ...
6+31+72
0,045+52
22,392,574
2S.13-.JM' —|-7
+4*7
0.211.14*
W orcester...
5> 00,514
22,9**9.39f
Portland. _
_
6.<2o+^7
5.495,> 9- -3*2
20+64.1 "71 -t 0*7 Fall River.............
*2
rt,18*>.0 1
3,5sw, 8 J - 1 1
Fall River......
14,077+23
14 170185 -0*7
Lowed ........
2.90M.424!
2.«“ l.Sl« -HOD
10.007 so;
10.75 5,191 — s New Bedford.........
0*
2,2V0 20
,.*
New Bedford.
2.229.7 1 *-£*,
9,103,910 . 7.7'2.7*71 t1) 9
Total New Bng..
Total N. Bog 400,013,959 450,421,8 >5 4-3*7 1,8*0+87.934 1,722,00 + j5 +0 8
85.5' 7.376
I Chicago...........
11,976,600
Caioagu......... 310.953.314 38.V«».>10 —101 1.285,027,452
; Cincinnati...........
5 087.986
Cincinnati---53.102.0* 0 62 0*19 06-) -rO*8 I9rt+S1+*X*
Detroit...........
5,301,477
Detroit- ......
22,77 V 60| 2-11+9.02/ —17
80 6lrt,70
09.551 8 ’9 —10 I Cleveland.......
4 090,1 17
0*2
26.201.-38
Cleveland---25,214.015 —
Milwaukee..........
O .rt T .O’?
O O
3.157 7->0;
*1
17.972.20lf 18+95,4*7 —5
Milwaukee ....
Columbus...........
7-1,372,03+
2 0 0 083
lrt/’ftrt 30 1 10.006+00 + 0*5
Columbus. ...
0«»+M 450
3
Indianapolis......
1.425.947
.8.74rt,rtll
54
9.252,073 —* >
Indianapolis-.
32+14 4if
35,070.?3nf — 0 1 Peoria.................
,s
1.452 439
0.5i7.73»|
Peoria -------25. rtrt.O
'U
7.1*88.50$ —lV*
Toledo.................
-W
709 124
7,13-.8-45!
Toledo...........
0.5-9,79i + *>
25,77s,2.)7
26,08V,8s7| +4*4 : Grand Rapids —
5 4.920
3,121,100 —wo
i Dayton........ I.. .
13.432.427
13.000,* 15
280 00?
2,69 >.3 0
2,609.8 V + > 7
I
*
Daytou..........
lU
.Oiu,J.*»”
Lexington..........
10.6lo.l76)
21i 142
1,217,112) +9*5
],»«!. 183
Lexington ...
■ .
6,214.0*3 +1*1 ! Saginaw..............
265.8 *3
1,428,283!— 6
2*
1.0 '0.988
Saginaw.........
4,11-4
,065
6,764,281—
29*5 j Kalamazoo..........
182,839
1.0 iS,2»8
1,W» 2*1—
12
4,12 <+7oi
Kalamazoo...
4.88 ».U -15*5 ! Akron...................
-*1
14 >.«rt4
1036.800 —»
’l
A k ro n .........
1,970,26 i
4,427,078! —1
*3 Bay City...............
18'.020
1.001,660 300
70&21
Bay City.......
3,135.122
4.2*0 3 1' —id*8 j Rockford..............
82
131 894
1.117.4»»2 -2 2 6
H
65.02A
Rockf -rd......
8 1*84,3*8
3 974.083. -20*3 i Springfield, Ohio..
__ 159,972
814.930-23*1
619,271
2,70'), 18
Springfield__
3.368., 81*—16.9 Canton..........
811,121
B.6 List
887,485 —1*»
Canton..., ...|
2989.518 —H I i Tot. Mid. West’r
122 877+49
Tot-M. West. 617.703,051 561,281,015 —7 8 1.011,714,287 2,157.438.127 -1 0 0
I San Francisco...,
San Francisco.
68.106.840 56.S7V86 +3*61 214.238,102 222.787.875 —3*8 I Salt Lake City....
+3’7
1
Salt Lako City
6.376,8
6.6.**.0,598
2 >,575.583
*
22,100.132 — *2 ; Portland.............
3,081,601
Portland........
3.999.2+0 -0*51 17.210 72*1
1**,207.001 -5*8 Los Angeles.......
Los Angeles
6,110,3271 6,62 ,661 —7*4i
18.214,695
20 710.701 -12 2 Tacoma...............
1.759,7271
Tacoma.........
2.222,317 -20*81
4.586.102
8.701,037 —24 8 Seattle................ .
2,lw
3,109
8eattle .........
2,212.925 —2*o
7+59.05"
8,040,719 -12*5 Spokane..............
+27*1
l '
2,301.762
Spokane........
4,<70,674
7.206,120 t-23'i Fargo...................
’567,'47«!
039*811 —12*9
Fargo.............
3,('40.3 -8
2.070 003 21*6 Sioux F alls....—
20 1.901!
435.149 —5:1*0;
Sioux Falls_
_
771.21'
1.674.070 -51*0
Total Pacific__
80,101,345; 78,63*>.0i9 8-1*9! 204,0.1.399
Total Paolfio
312,831.32$' —r l
! Kansas City...
-f 8*5f
Kansas City...' 40.510+50 42.862,150
171,775,9ll[ -4-1*2 Minneapolis....
20.74&.8941 24.lUf.2wO + 11*01
Minneapolis...
109.317.17*|-I3 8 Omaha..... ....
17,613.6071 17. 49.121 -1*3
Omana...........
73. 20,4 ftJj -V 2 St. Paul.......... .
29
12,198,491
8t. Paul.........
17*331,701 — *0j
70 202. >14 —
30*8 Denver. . . . . . . . .
Denver..
J 10,54rt, 0 ii 11, 02.078
46.80o.O7rt, —• j Davenport............
'•
2,3334371
3,428,071 3 I’M
Davenport....!
23,325,019 -60*0 Su Joseph ..........
5.200,
5.2 6.503 -0*1
St. Josepfc ...
22,650,97 2 —8*7 Des Moines..........
- I 7 ’5,
4 511,290
5.468 981
Des Moines. .
17,80 >,547 —41 Sioux City............
*#
2.610.441
'
2.283.40 •+14*3
Sioux City ...
9,280.383 —8*1 Lincoln................
9*0,
1,305,161
1,191.750
Lincoln........ 1
5.217,005,—12*2 Wichita................
1.80 +0 :
2.075,8 4 —10*31
Wichita.........
7,518,401 -13*7 Topeka.................
1,030.04.$;
1.5fi-,8!)5 8-4*6)
Topeka..........
7,114,473 - 7 7 Fremont...............
>.209 +112!
253.050
Fremont...... .
1* 64.1*7 -5 4 Hastings..............
f-250
'bJ.Urt»,
Basting?.......
l.lrtiyfifr + 2 rrt
Tot. other West
Tot. oth’r W.,1 183,680.602 i 131,928,209 —l'6i 504.112,170! 500.023,72 ij—110
8t. Louis.............
St. L oan........, 109,017.622
98.01 . '0221+11 '2
433+90.701 i 397,477.2 ‘3 >-9*2 New Orleans.......
New Orleans.. ! 20,1’4,890! 37.0* ,217-198
118,‘47.534 1 173+00,704 —
14*5 Louisville............
25,909,697' 24.-32.
-*-4-3. 102, 48,700
Louisville......
102.719, ' —
0*3 Galveston............
9,061,700
8.14 3641+11*1
Galveston......
42,:80.i0«i;
40.32 '.904 +5*1 Houston..............
Houston....... ! 10,108,336
7,588. 00JI f-34'2
42.;*'4.010
. . !
+7 4 Savannah............
j
9 380,353
Savannah.
88'* 5 814 r 10'2
38,:79.9>8;
39,700 4*7, 83 Richmond...........
9,019+63!
9,217,,8 '.9i —2*1
Richmond ....
37+ 8.73I
38,453.940. -2*2 Memphis.............
6,866,7181
8,II18 30.' -11*8
Memphis........
31.2 9.2i2l
37.255,217 -10*2 Atlanta..............
6.598.812
4 9 85.,8 Ilf 4*12*8
Atlanta .......
23,70-i.099 -0 03 Dallas...................
23,55 ,R8'I
Dallas ..........
8i
4.8-3.20 *
4+;’9,,41* +1
2l.:^6.6.6;
21,578.81*0 -0-9 Nashville............
4.095 4991 -+9*3
4 177.102
Nashville......
827.094
17.0 >7,295 +1*1 Norfolk................
17,810.140[
3,750,402
3,78+,,280! - 1*0
N orfolk.........
I
513(26
15 242,009!
17.352.917. - i 1*3 Waco.................
6
W aco....... .
2.807,,3 ** —42*5
735+Ot !
1,0i5.107j
12.002,8511 -15 3 Fort Worth.......
10,81 Mil!
2.810,083.
Fort Worth...
3,0(3: .4«9j - f 42/(727
11,*<59,0411
12 315.1131 —
8*0 Augusta...........
3,183.912
2,53 +82+25*5
Augusta........
40l,52fc
13.474,70?
11,2*4,021! + 19*4 Birmingham.....
1,613.437
,911 —
9*1
l,*k*7.!
Birmingham..
407.1171
6.463.1*1
7.431.803 —11*7 Knoxville.............
2,083,723
1.86",,01 +12
i
Knoxville
287.17C
7,5*0,157!
7.325.903 *t*2‘5 Little Hock.......
1,312.130
Little Rock...
1,488.'86$ -11*8
5.218+53
298 111
6,087.091 —
79 Jacksonville.......
1.061,395
25U.000
Jacksonville..
1,461, 32i —28*I
4.170.68$
5,370,030. -22*2 Chattanooga........
1,065,107Chattanooga.. _____________ 1,189.: 314 —5*7
4,:j.79,468;
4.593,407j -4*7
64,220,862
Total Southern.
.4
Total Sooth, 243.58 < >31 285.68 \ 104 j_8J 1,018.9’ 1,248| i,,010+47,778 4-0 2
1,078.715,505
Total all............
rota! all.
,111.091.077; 1.302 100, 475 -4*4 10.528. S L
O
—>
*8
Outside N. Y. 1,861,884.318 1 9 > 741. 1
Outside N. York.
8
511 - 2 5 7,2 >7,100+8.11 7,544.051+2 /| -3*8
”400,517.638 '
Montreal.......
45,092.792
37,589,901 +20*0
8.461+39
107,800.1081 159,020,400 +**5 Montreal..
26,236.470; 26,111,481 +8*1
T oronto........
6.967,307
11O.0I9.1Mj 113.839,228 - 2 8 Toronto •
Halifax .......
6,077,853,
4.. 90,11 4-0*0
t*
1,214.868
19.617+02
10.5rt3.O
18, -fi> /
*4
Winnipeg......
4,101,942!
4,032,4.5iJ 4-3*2
810,051
17,812,390
17.318,802 j —0*2 W in nlief..........
Hamilton.. ..
2.000.0811 ^2,729,431 +6*3
608+95
1'.155,119
11,100.397 —0*05 Hamilton...........
St.. John*............
Tot.. r,anada.
83.409.707 - 75.2W.52l 4-18
826.530. >
331 320.>«31
+1*
Total Canada.
17.062+20
’ Far table of olearluga by telegraph < ? , Page 87 J,
<«
• Not Included In totals.
1897.

N O . 1 ,6 6 3 .

23 783,339
8 474,016
0,178.012
2 010.615
1,726 317
1,402,839
2.357,246
1,800 939
1.080.6P4
980+08
-TO!
-3 7 0
—15*8
+08 *
4
-5-0
+27*J
+»•!
-2 7 4
—10*0
-1*7

851580
910,50/
65<+2*
461 34C
341+30

3:5,095

280.206
326 627
2(.5,000
61,281+4C

422+85
200,000
53,812,694

-15*7 1,153.183.232
-9*0 488,675,851
+25*0
10.771,400
8-2 9
6,704,778
-1 30
1,121+00
8-7 0
778 907
+0 02
024,787
+12*8

19,001,188

913 844
67 0,903
460.000

991,632,082
454,964.721
9 2•'ll,959
0,052 783
1.230+60
765 090
773,304
18.107,050

'&KK

THE CHRONICLE.

ivou u iiv.

There has been a wholly natural reaction in foreign
With this i.-sue of the CnBOJUCLK we send out our
usual monthly number of the Q u o tatio x S upple- exchange this week after the considerable export of
vent.
The S upplement contains, besides a complete gold during the last two weeks, aided this week by the
record of the past month’s transactions on the New shipment on Tuesday of one and a-half million dollars
York and Boston Stock Exchanges, twenty-seven more and the engagement yesterday of another million
pages of general quotations, comprising all classes of for shipment to-day. This outflow furnished a large
securities— railroad stocks and bonds, municipal securi­ quantity of exchange, an amount in excess of what
ties. bank stocks, gas stocks, insurance stocks, street was needed to supply the immediate requirements of
the market, and as a consequence rates fell. No con­
railways, etc., etc.
clusion can be predicated with reference to the
future course of exchange on this decline other
T H E F I X A N C I A L S I T V A T IO N .
than that the adverse movement was due, as we
The tariff bill was reported to the Senate by the more fully explained last week, to existing adverse
Finance Committee Tuesday morning. This action conditions arising from temporary causes— the large
was a suprise. as the public had prepared itself merely merchandise imports in prospect of higher tariff duties
for a report on that day to the full committee with and the special demand for gold in Europe. Favoring
the expectation that it would be detained in committee for the time being the check to gold exports has also
undergoing examination three weeks or more, and not been the presence of a considerable amount of running
till after that come before the Senate. These for­ off bills which were being carried in this market the
malities, though usual, gave to the outlook in this atter part of April and which mature in May. It was
case a somewhat discouraging aspect, since already owing to their presence that the higher rates of ex­
more than one and a-half months had been consumed change were maintained by bankers in April, and that
over
this legislation, and still
the bill was the agreement existed not to ship gold unless 4 88J for
in the preliminary process of
incubation.
It demand sterling could be obtained; an agreement which
was consequently a very decided relief to industrial was broken because of the peremptory order to ship the
classes and a very welcome surprise to have this slow bullion which went out on the 27th of April. After that
development hastened by skipping one stage which bankers took advantage of the fact that exchange at
seemed to promise little advantage to any one.
As it Paris on London was 25 francs
centimes to send the
had become a settled fact that we are to have a higher metal to Paris and sell sterling against it, for so long
tariff, the prevailing feeling is to let the party responsi­ as sterling could be marketed at 4 874 there was a clear
ble for the results shape it, and then depend upon profit in the triangular operation during which at one
open discussion for modifying its provisions and fixing time demand sterling fell as low as 4 874- The direct
its final form. But we have written on a subsequent influence reported as imparting greater steadiness to
page with reference to the measure as reported to the the market the latter part of this week has been the
Senate. It will be seen that the Committee’s work has large purchases by importers of merchandise.
on the whole greatly improved the old bill in im­
The reduction in the dividend rate bv the Chicago
portant particulars, which we have there explained.
& Alton is an event that deserves more than passing
The defeat of the Arbitration Treaty is a wretched notice. The Alton has a dividend record running
and humiliating conclusion to a most commendable back over thirty years, and the 8 per cent rate has
effort. We are glad to be able to say that the adverse prevailed for a period of sixteen years. The reduction
vote in no measure voices public sentiment. The is small, only 1 per cent per annum, and no doubt
large body of our people were full of enthusiasm over the Western Populists will consider 7 per cent per
the success of the negotiation; they have with deep annum a very high rate of return. But the Alton
regret seen the treaty robbed of most of its value by has always been very conservatively managed, and it
amendments: yet now, being of precisely of the same cannot be urged against it that its stock has been
mind as at the first, they feel as if in the final result watered. Its shareholders, unlike those of some other
they had received a personal injury. The twenty-six roads, have never had “ plums ” in the shape of
Nor does the present amount
votes recorded against arbitration tell clearly enough stock dividends,
represent anywhere near
the source of the hostility. With hardly an exception of
the capitali ation
they are the same coterie of Senators who have made its cost. In its eijrly days the Alton went through the
up duriug the past three years the leading war and experience of other enterprises of that kind, and those
silver party in that body.
The most of them who put their money into the undertaking lost heavily.
care for nothing but silver.
W ith arbitration In the address of Mr. James Charlton, which we re­
established, an easy way to the attainment of cently reviewed, lit was pointed out that while the
silver payments in the United States, which is the capital account of the Alton stands at 35 million dol­
height of their ambition, would be closed. They lars, the property has cost the owners over 70 millions.
know full well that a real war scare witli any important The road was originally bought at sheriff’s sale,
nation in Europe, and most of all with Great Britain, and only by putting the earnings into the track
where so many of our securities are held, would under and equipment year after year, instead of using’
existing circumstances scatter our gold reserve in a them for dividends, was it possible to bring the
Bay. With the country facing such a contest and property up to a condition where it could make
facing tlm impossibility of conducting such a war on a regular returns t< its shareholders. Mr. Charlton de­
gold basis, depositors and security holders both small clared that if tin! company were paying dividends on
-and large would hasten to convert their funds before the actual amount, of money invested, instead of that
it was too late. It is somewhat of a relief to the dis­ amount boiled down, the rate would be only two per
appointment and chagrin the public feel on this occa­ cent, instead of tie 8 per cent which has ruled. When
sion because of this lost opportunity, that they know a company so siti ated is obliged to cut its dividend
the moral tone of our people is not of nearly as low a rate, the railroad industry evidently can not be re­
grade as the vote against this treaty might indicate.
garded as in a veiy satisfactory state.

May 8 lsvl.t
,

THE (JHKON K’LE.

867

It is not surprising under these circumstances that middle of the week, but the offerings were only fair.
investors should be turning from railroad investments Quotations are 3J@31 per cent for sixty to ninety day
to municipal investments. No feature of the situa­ endorsed bills receivable, 34 @ 4 4 per cent for first
tion is more noteworthy or significant at the moment class and 4 4 @ 5 pier cent for good four to six months
than the extent to which new municipal bond issues single names.
An Athens cable reported that the ministers of Great
are being put out and the avidity with which they are
being absorbed by the investing public. W e may take Britain. France, Russia and Italy had been instructed
occasion in the near future to comment more at to propose mediation, and if this is accepted the
length on this feature, but wish to note here Grasco-Turkish war will speedily end. The Bank of
the magnitude of the sales. According to our sum­ England minimum rate of discount remains unchanged
mary for April, published to-day in our State and City at 24 per cent. The cable reports discounts of sixty to
Department, the aggregate of the disposals of munici­ ninety day bank bills in London 1 per cent. The
pal securities during that month reached $12,301,823. open market rate at Paris is 2 per cent; at Berlin it is
In our State a n d C it y S upplem ent for April we 2 f per cent, and at Frankfort 24 per cent. According
showed that the sales for the previous five months to our special cable from London the Bank of England
since the 1st of last November had been $80,739,743, lost £240,198 during the week, and held £36,253,715
so that for the six months over 93 millions of new at the close of the week. Our correspondent further
bonds have been issued, not counting in the total any advises us that the loss was due to the export of
temporary loans made for one purpose or another. £186,000 (of which £130,000 was to Japan and £56,000
To be sure, the total includes nearly 35 millions of to France), to shipments of £291,000 net to the in­
bonds sold in November, representing the accumula­ terior of Great Britain and to the import of £237,000,
tion of unsold issues during the silver campaign of last of which £165,000 was from the Cape, £35,000 from
year, but even with this month eliminated we have an China, £25,000 from Australia and £12,000 from
aggregate of over 58 million dollars for the remain­ Portugal.
ing five months.
Bond dealers tell us that such is
The foreign exchange market has been quiet and
the eagerness of investors to buy that purchases of generally easy this week, growing steadier again as the
bonds by them are spoken for by the public almost as week closes.
On Monday it was announced that
fast as made. The new issues have multiplied so fast Kidder, Peabody & Co. of Boston would increase
that we have found it necessary to increase the space their shipment of gold by Tuesday’s steamer, by
allotted to our State and City Department, where we $250,000, making it, with $750,000 engaged last week,
record the news and events regarding municipal se­ $1,000,000; Ileidelbach. Iekelheimer & Co. also en­
gaged $500,000 gold coin for the same steamer. The
curities.
W e give on another p age the statement of mercantile offerings of bills drawn against this and the former
failures by branches of trade for the month of April, as shipments caused a decline in rates for actual business
prepared by Col. W . M. Crosvenor for Dun’s Review. in sight sterling; exchange at Paris on London fell
The advantage of having classified returns of that kind off and tl\e price of bar gold in London declined one
is well shown in this case. Judging by the mere totals quarter of a penny per ounce, while American Eagles
it would appear that business affairs were getting stead­ dropped half a penny. It was thought then that gold
ily worse and that the results were strikingly unfavor­ exports had been suspended for the time being, but on
able, as the liabilities of the failed concerns are re­ Friday Lazard Freres engaged $1,000,000 for shipment
ported at no less than $17,013,477 for April 1897 against to-day. Purchases of exchange by importers of merchan­
only $12,487,697 for April 1890 and $10,966,459 for dise to make remittances will explain why the pressure
April 1895. But on examination it is ascertained that of bills against the large gold exports did not affect the
more than the whole increase has been in the cotton market more heavily. It is expected that some run­
goods industry, and that this "represents the collapse off bills will soon be marketed. Bankers report a
of the five New Bedford cotton mills, whose misfor­ slight increase in commercial drafts against provis­
tunes are due to a special cause, and do not reflect in­ ions, but there are very few offerings against grain.
herent weakness in the trade itself. The aggregate On Monday nominal rates for sterling opened at
liabilities of these five mills was $7,990,734. Elimina­ unchanged figures compared with the close of last
ting these failures, the record is seen to he really an week, and there was no alteration in them until Tues­
encouraging one, and this view is also borne out by day afternoon, when the Bank of British North
the decrease in the num ber of failures, which are America reduced the rates half a cent, and thereafter
reported at only 941 for 1897, against 1,000 for 1896 the range was from 4 864 to 4 87 for sixty-dav and
and 999 for 1895.
4 8 8 @ 4 884 for sight until Friday, when all the bankers
Money on call, representing bankers’ balances, has quoted the sixty-day rate 4 87. Rates for actual busi­
loaned this week at 14 and at 2 per cent. The tone ness opened on Monday unchanged for long at 4 864@
was a little firmer early in the week but after Wednes­ 4 864, but short sterling and cable transfers were re­
day it grew easier and then the bilk of the business duced ore quarter of a cent, to 4 87£@ 4 874 for the
was at 14 per cent, and this has been the average. former and 4 8 7 4 @ 4 87 f for the latter, and the mar­
Some of the banks have obtained 2 per cent for ket closed dull and barely steady. On the following
money over the counter but the majority of these in. day the tone was easier at a decline of one-quarter of
8titutions and the trust companies have loaned at the a cent all round, to 4 8 6 @ 4 86J for long, 4 8 7 @ 4 874
rates current on the Stock Exchange Time contracts for short and 4 874@ 4 874 for cable transfers, and no
on good mixed stock collateral are freely offered but change was made on Wednesday, when the tone was
not much business is reported. Rates are 2 per cent still easy. On Thursday it was a shade firmer for
for thirty to sixty days, 2 per cent for ninety days to short sterling and cable transfers, and rates for actual
iJ
four months, 3 per cent for five to sir months and 34 per business were advanced to 4 874@ 4 874 for the former
cent for longer dates. There has beei a good inquiry for and 4 874@ 4 87J for the latter. Yesterday the mar­
commercial paper and the demand increased after the ket was steady to firm with no change in rates. The

1

TH E

Stic)

CH RONICLE

[VOL. L X IV .

following show* daily posted rates by some of the preliminary statement we have prepared this week
covering'82 roads shows 85:17.378 increase or 1-70 per
leading drawers,
„ u u r«*TBD bate * r o n r o to s jo s n x ciiA sa s.
cent. The following compares the returns of gross
E I!.,
S
O.
¥M
*> M H. Tvtm,. w #n.. racm.. Min : and net for four years of a number of roads that have
M & ifa* «.
iin .
A ■
.
submitted statements this week for March.
jS
ff
H
f
if
9N*« *, |
i #4Ooff|
.
i m 4o3f#»
..«
jtew A m . 1iStottC
m rtm
jr*.
IfotttU. .
Bant
ttflll--of 4\ B tk 1H
«ttW i*S
¥9,
J Oo t Si*
t
U i,
Csm d ft© *© i m d i.p
& © ..
O
f

tm

ST
#

m
*4
87
mu
H
I
& i
*S
m
VH
N
't
S i*
H

m

mu
m

if

m
mu
N
f
s»V
s
m
mu
&
r

mu
s
"V h E
$7
m
mu
mu
m
87
mu
B*U
m
it
mu
mu
m
mu
mu
r?
87
mi*
mu

m
S
T
*8*
8?

mu
87
mu

87
mu
5<
87
8
7
85
mu

**4

m
if
88
87
mu
H
7
mu
m
mu
87
mu
h
7

-— — — ■ -M am b Earnings. ------- —-------- *
—

1897.
Mam* of Knud—
4
Central o f Now Jersey. .. ..Gross
89H,SU
259.41*
Net
Chesapeake & OMo..... ...
1.0 M.IJW
Net
283.168
taw* Centra!.......... .........
131,3*7
40.97*
Net
K*u. City Ft. Scott & Mem. Gross
421.108
128.580
Net
San. City Mem. & Blrm... ..Gross
99.200
Net
2i . n i
Louisville & Nashville ...
1,184,05$
Net
610.-140
Mexican Central..........
1,145,263
401.514
Net
Mexican International ... ..Gross
201.058
Net
121,724
Norfolk, & Western..........
03-,610
Net
319.28$
Rte Grande VV©stern......
18L371
Net
52,920
Ban, Ant, & Arana. Pass., ..Gross
141.904
Net
10,507
13 1.630
Toledo &Obio Central....
40.352
Net
Western N. Y. A P a.......
211,997
Net
27.653

189(1.
$
634,040
872.578
812.700
268.713
m .m
70.428
364,584
103.097
8-5.34S
7.880
1.580.980
461.176
870,400
329.127
m .* i 4
97,304
967.310
199,633
181.153
59,990
120.309
19,357
154,221

1895.
8
1.019,8 iH
100.303
800,154
271.114
181,556
40,5
330,518
189,771
80,572
9,743
1,000,109
554,521
817,1 9
317,563
228.259
91,461
875,015
218,581
160.002
54,107
139,979

189*.
$
895.258
233,202
740,718
2*0.478
156,125
01,30*
420,870
112,015
82,950
7,301
1,658,489
016,859
714.2*
209,13
204,238
100,753
816,155
280,126

The market closed steady on Friday at 4 87 for
»tsuv day and 4 88(c l 88i for sight. Rates for ac­
tual business were 4 8G@* 8&J for long, 4 87|@
148,628
l \ ;
f o r short and 4 871<§s4 87:i for cable transfers.
86,445
102,032
Prime commercial bills were 4 85|@4 85| ain docu­
td
23,471
def. 1,683
131,529
125,641
mentary 4 84j@ 4 85.
43,185
31,0 U
50,811
$83,014
After an increase in March, bank clearings for April
250.595
817,17*
75,904
49,09*
100,98®
again show a decrease, the falling off from last year
The following statement gives the week’s movements
being 4 1 per cent. It is noteworthy that the com­
of money to and from the interior by the New York
parison is greatly improved by leaving out New York,
banks.
the decrease then being only 2*5 per cent. The Grant
Received by Shipped by
Net Interior
Wed; Ending May 7, 1897.
memorial celebration on the 27th, in giving an extra
V, V, Banks. V. Y. Banks.
Movement.
holiday, no doubt operated to reduce the volume of
$5,969,000 $2,347,000 Gain.$3,622,000
Go d ........................................... ....
exchanges.
082,000
411,000 Gam.
271,000
Total gold and legal tenders....

MOVTULr CIB VBtNO*.
Month,

J«auArr
WcStimmtf
March - ..

Clearings Oixiside New York.

(/ im rinys, l d a l A ll.

1807.

18M.

P.Ct.

1897.

P.Ol

1
*
*
»
4^07,014,725 *,027,1*3,291 -2*6 1,917,607,39 L 2,064,720,583 —71
S.flDM78,7«! | 4,115,488.185 —10*8 1,846,345.618 1,742,470,558 —
5*6
4^18.269.60- 4,1*5.161.180 + 1 7 1.831,1£9,050 1*823,901,535 -fO'l

l*i qaar-. 12.410.750,120 l3.S87.772.6f8 - 3 7
April

1806.

Into
B inks.

Out of
B mks.

Net Change in
13 ink Holdings.

Banka’ interior movement,as above $6,651,000 $2,758,000 Gain. 3,893,'H
lO
Sub-Treas. operat’ns and gold expts. 20,000.000 29,500,000 Loss, 9,500.000
_
Total gold and legal t enders_ _ $26,651,000 $32,258,000 Loss $5,607,000

1.001.831.318 1,30+711.161

Amount of bullion in principal European banks.

->.*5

BASK CLKAKIKOS AX LEADING CITIES.
-------------- April.------ -----

Week Ending May 7, 1897.

5,395.17.1.085 5,036,110,076 - 2 3

4aU.WH.nrr 4.302,106.47« -4*4

In some parts of the country the showing is quite
favorable. Thus the Southern group of places records
3-4 per cent increase over last year, the New England
icrease and the Pacific group 1-9
per <*-nt increase. The group comprising the cities in
the Middle States shows 6 per cent decrease, the Mid­
dle Western group 7’8 per cent decrease and the Far
Western group ! *00 per cent decrease. The following
furnishes a comparison for four years of the clearings
at the principal cities.
'000,0004

*6,651.0110 $2,758,000 G ain.$3.893.000

With the Sub-Treasury operations and gold exports
the result is as follows.

— January 1 to A pril 30.— ,

1897. 1890, 1895. 1894.
( m i l l e d .!
8
*
*
$
Ifew Y ork... 2,250 2,393 2,373 2,018
347
380
358
338
cmioKgo........
403
385
389
335
B«»ton.........
*53 272 289 261
Pfeilitdelpiiift
105
109
« t . L o a l,. . . .
98
89
• ad Vnin'oo
50
54
57
58
60
57
Baltimore...
59
53
88
67
PIH»bUTf.. .
73
58
01nc! H At!...
R
53
57
33
54
30
S,W OrlMQA
39
31
38
47
t o w Ot%f
43
42
40
26
Ixml4*lil»...
25
26
25
M!nne«po!l«,
21
27
21
23
MtlWAtmw.
18
19
18
17
Ootro'.t........
’i s
24
24
24
»n 6 * !o ........
w
18
17
15
ProvWeuon .
m
22
22
18
22
18
IS
14
Oovoiwia ..
23
25
it
iJonvor _
_
11
U
ii
12
St. t m i l .......
ii
17
15
1i

1897. 1890. 1895.
$
9
*
9,271 9,645 8,873
1,285 1,468 1,421
1,583 1.400 1,455
1,000 1,092 1,080
434
397
405
214
223
211
241
240
220
251
258
222
197
200
214
149
174
159
174
172
161
102
103
104
91
109
80
73
79
76
90
100
97
02
70
65
90
88
86
70
73
til
99
93
85
43
47
45
49
70
02

1894.
7

7.957
1,344
1,366
960
368
213
215
211
208
159
154
107
83
72
91
Cl
73
81
73
48
51

Man 0,1897.
Bank of
England.......
Franco....
Germany*---Anst.-Hnng’y
Spain. .........
Netherlands.
Nat. Belgium*

Gold,

i Silver.

|
Total.

£
f
£
j
£
86,253.7151 .
J 86,253.715
77.1 0.330 48,929.757 126.If0.087
29,107,400 15,035,4*0 44,193.000
31*785,0001
12,698,000j 44,883,000
3,540,000 10,180,000 19,020,000
2,630.000- 6.823,00C- 9,453,000
2,612,667 1,336,333 4,009.000

!

Mau 7,1888.
Gold.

| Stiver. | Total.

£
£
47,123,859
78,475,531 49,871,878
30.121.500 15,058,500
20,959,000 12.795.000
8*373,000 10.750.000
2,627.000 6.959.000
2,612,607 1,306,333

£
47.128,859
123,348.912
45.180.000
39,754,0C0
19.123.000
9.588.000
8.919.000

Tot .this week 188.129,112 95.19-^690 283.421,802 196,292,500 98,740,211 293,032,771
Tot. prev. w’k l8-«,635.236 95,484,8 '6 284,120.092 195,970,649 96,449,297 29^,419,940
* T bs division (between gold and silver) given la our table o f c o in
and bullion in tlie Buak o f lieruiauy and tlie B in k o f Belsiuai is m ad e
from die boat estimate we are able Co obtain ; In neither ease ia it
claim ed to be accurate, as those banks make no distinction in t h e ir
weakly returns, merely re porcine: the total so ld and silver, but w e
believe the division we tn .tie is a eiose approxim ation.
Vo te . We receive the fcre^oin { results w eekly b - oable, and w h il •
no all of the oate given a t tile he id o f this oolum n, they are the r e tarns Issued nearest to that d ate—that is, the latest reported figures.

IM PORTAN T AMENDMENTS I N THE
SENA TE TA R IF F BILL.
The Senate Finance Committee, through the intro­
duction of the tariff bill reported this week, has done
the country a substantial service. We say that, in
face of the fact that- the measure as it stands lays a
tax on hides, a duty certain to be of no material benefit
to any one, while Equally certain to inflict decided
harm on all manufacturers and consumers of boots and
shoes ; also a tax on low-grade wools which would for
a time demoralize the carpet industry and bear heavily
jf
S+87S 4.047 4,025 3.519 15,571 10,173 15,183 13,891 on the purchaser < carpets, which in this country
©ill®#...
%$ i
tm
3*5
809
957 1,017
These features are conspicuously
912
869
Ail i»* 4*1 I t *302 4 M B 3,728 16,518 17,190 10,110 1 1.700 objectionable.
Con mon report says they were out of
O«MM0 X V. 1302 1,009 1*812 1,710 7.2.57 7,545 7,227 6,803
accord with the viev s and intuition of those who pre­
w- h" >1 publish next week our review of the gross pared tjid measure and were only inserted to hasten
u 1
....if ft of AprJ. A
legislation. In othfr words those concessions are evi-

May 8. 189f. |

rHhl CHRONICLE.

deuce of a commendable desire to get the bill before
the Senate without a further delay in committee of
two or three weeks which seemed impending. The
Committee no doubt felt that business interests called
for quick action,, for a settlement of the tariff in some
way speedily; while the enactment of those duties,
whether put in the bill as reported or not, must de­
pend upon finding a majority of the Senate in favor of
them. Which way the votes will be cast ought not to
be in doubt, and if the Senators are left free to act
without caucus dictation there are reasons for thinking
that the Committee’ s tariff bill can find a majority in
the Senate with those features eliminated. However
that may be, business interests are largely dependent
upon having this legislation closed up as soon as
practicable, and consequently the getting of the bill
before the Senate with so little friction has been a de­
cided relief to industrial classes, for it ensures a nearer
end to the deliberations of that body than was thought
possible a week ago.
There is another important benefit that will imme­
diately flow from the report of the Senate Finance
Committee, a matter too that was in urgent need of at­
tention. We refer to the circumstance that the Senate
bill has omitted the retroactive feature of the House
bill and has thereby removed the shackles from a very
extensive department of business (our foreign trade)
which had been demoralized, transactions in foreign
goods being embarrassed and in large measure checked
by that provision. Importers were hampered both in
buying and selling, whether their purchases were
afloat at the date the bill named or not. To be sure
the clause was probably unconstitutional and in its
operation so obviously unjust as to be against public
policy. It would consequently have found no favor
with either court or jury. And yet each import of
goods must be entered for consumption subject to a
law suit with the Government, and if sold would have
to be sold with that embarrassing attachment. Such
a situation was not only a menace to the importer,
but more or less of a disorganizing influence in other
business circles; for it is a fact that restrictive and
dispiriting conditions in one trade always induce a
sympathetic feeling in trades beyond the department
immediately affected.
The hitherto untried experiment which intro­
duced this state of affairs was an effort merely to
check imports and save a loss of income to the Gov­
ernment under the new tariff when it should become
a law. As it happened, even assuming the clause to
be legal, its insertion in the bill was too late to secure
the end sought. It seems to be a fact that more than
enough sugar and wool to mee'. a year’s demaad was
either already in the country or afloat, or bought and
ordered to be shipped (and so excepted from coming
within the retroactive provision) before the section
was added. Hence it is likely '.hat imports of those
two articles would have stopped in a natural way very
soon, even had that clause neve’ passed the House ;
this would have happened because the surplus
stocks held in this country and hanging over the
market would have become so large as to depress
the prices of the articles in excessive supply to
an extent to discourage the importer from making
further ventures. But fortunately the Senate’s action
relieves all the anxiety the retioactive provision was
causing.
Moreover, the Finance Committee have in their re­
port otherwise shown good judgment with reference to

869

what was needed to meet the situation; by their work
they tell us plainly that to remove the existing business
depression the first requirement is additional reve­
nue. They have not only realized that the retroactive
clause was doing harm and have dropped it, they have
likewise most effectually met and provided for a con­
dition that clause was framed to obviate but merely
aggravated. W e refer chiefly to the Senate Commit­
tee’s action in laying a duty of 10 cents a pound on
tea, an internal revenue tax of 44 cents additional
on beer (plus the old rebate of 8 cents, which we under­
stand has been removed,) and additional taxes on
tobacco, snuff, cigars and cigarettes. These im­
posts are only to be continued two and a-half
years, and are expected to produce at once an
increased income of about 30 million dollars; after
January 1 1900 it is very properly assumed that
the Customs duties laid will disclose their full produc­
tiveness and furnish without the ten cents on tea suf­
ficient revenue for all Government purposes. These
added taxes consequently provide for a highly import­
ant period and condition and relieve an acutely sensi­
tive point just now in the financial situation. Mer­
chants and bankers recently have been talking among
themselves with considerable anxiety in reference to the
lack of income the House tarifE bill was likely to yield
for a year or two, mainly because of the large imports
now and which have been for some months in progress
in anticipation of the new dirties. Even with the
Dingley tarifE bill a law, it was seen that a short in­
come would be a troublesome factor again, certainly
during the coming two years.
There is another feature of the Senate’s proposed
changes which will also enlarge the usefulness of its
revision as a revenue measure; we refer to the decided
average reductions made from the House bill in the
rates of duties laid. As the measure stands now it
will act in a less degree to exclude foreign goods, and
hence will yield to the Government a larger income.
The benefits from this condition may in some measure
be secured in the first year’s operations of the law, but
after that they will be of more consequence. A lto­
gether therefore the Senate’s proposition affords the
assurance that from the date of its passage, unless
appropriations are recklessly made, the Treasury De­
partment will be relieved from all anxiety with refer­
ence to a deficit. That was the security which a tariff
measure was expected to bring to the Government and
afford to business operations. The House bill, because
in good part of the enlarged imports tariff legislation
has induced, clearly failed of supplying this defect;
and it is the fact that the Senate Committee has made a
new departure in pursuit of an enlarged revenue,
and that almost every change in duties it has proposed
has likewise contributed to add strength to the
point of greatest weakness (the Government in­
come), while curing other faults in the bill as
it read when it came into their hands, that has
given the new hopefulness this week apparent in all
business circles.
W e did not intend a criticism or analysis of the
Senate’s proposal in detail. Our object was to bring
together the changes of a general character which the
Finance Committee has made affecting in a genera
way industrial affairs. That we have done, and in
doing it we think we have shown that their manipula­
tion has conferred upon the business classes a decided
benefit, and put a more promising aspect on the busi­
ness outlook.

TH E

870

CHRONICLE.

I V Oh, LX1V,

y p ; payments alone in April were nearly equal to the total
‘ of all receipts (Uustoms, internal revenue and miscel­
HOLD EXPORTS.
laneous) in the preceding months of the current fiscal
The Q]t>i:ihh debt and revenue statements of the
year. The payments reached 624,45-1,000 in April,
Federal t, >'«-rument for the 1st of May possess
822,884,000 in March. Last year in April they
great i-r Luterest and deserve closer study than similar
were only 811,810,000 and in March 813,344,000.
monthly returns for some time past. In the first
Combining March and April, the amount this
place tbtfV show some noteworthy changes as com
year at $47,288,000 compares with $25,160,000
pared with the returns for preceding months ; in the
for the same two months of last year. Ju the four
second place the progress of tariff legislation and the
months immediately preceding these last two months
In-ginning of a new outflow' of gold give unusual im
(namely, the period from November 1896 to Feb­
por'anee to the* results disclosed.
ruary 1897, inclusive), the aggregate of the Customs
Tile fact which stands out most promiuently is the
payments was only $43,387,000—that is to say, in the
welcome one that Government receipts arc for the
whole of these four months not as much revenue from
present at least exceeding Government expenditures.
Customs was collected by several million dollars as dur­
Disregarding for this occasion the operations in con­
ing the last two months. In this case, therefore, the
nection with the National Bank Redemption
increase is considerably over 100 per cent. In the fol­
Fund, the revenues for the month of Apri
lowing we show the receipts for the two months this
arc found to have been 637,812,135, the disbursements
year in comparison with those for the corresponding
♦,i2.U72,hsg, leaving an excess on the side of the receipts
two months of the three years preceding. This re­
its the sum of nearly six million dollars. Moreover this
veals, perhaps, better than anything else the wholly
Is the second month that we have had a favorable show­
exceptional dimensions of the 1897 totals.
ing of that kind, the receipts for March having been
March Customs
Internal
Miscell* : : < ; , 2 i : , w S 2 . with expenditures of only 627,212,998,
and April, Receipts,
R . venue.
aneous.
Total.
leaving an excess of receipts in the amount of over
$
$
$
a
nine million dollars. Of course such results mean that 18ST .. . , .47,288,000
33,373.000
3,369,000
74,030,000
the national debt is being reduced, the actual amount 1806 ....... ,25.160,000
22,762,000
2,402,000
50,324,000
20,504,000
1.832,000
49,713,000
of the reduction for April having been 85.718,068 and 1893 ....... .27,383,000
24,172,000
1,828,000
47,530,000
for March $$,038,253, To understand what a note­ 1894....... ,21,530.000
Thus as against total revenues of $74,030,000 for
worthy change these figures indicate, it is only neees
sary to recall the constantly recurring deficits year by March and April 1897, the amount for 1896 was only
year and month by month which the country has ex- $50,324,000, for 1895 only $40,719,000 and for 1894
perioiieed so long, and which have beomthe source of but §47,536,000. The Customs payments at 847,288,so much anxiety to Government offieials^andthe public 000 for 1897 compare with $25,160,000 for 1896, with
$27,383,000 for 1895 and with $21,536,000 for 1894.
alike.
It would be gratifying if the change could he re­ Moreover, we may say that in no two consecutive
garded as the outgrowth of normal conditions, indicat­ months of any recent year have the Customs payments
ing an expansion in trade and a revival of prosperity. been equal to those for March and April 1897. The
Our readers of course need hardly be told that the nearest approach was in September and October 1890,
change cannot be ascribed to such a happy state of and then the total did not quite come up to that fo r
tilings but has followed from wholly exceptional con­ the two months of this year.
All this is important not only as explaining the
ditions. Congress is engaged in devising a new scheme
of tariff duties, higher than those now in force, and transformation in the relation between Government
the country is going through the experience to revenues and Government disbursements, but also
winch we have become so accustomed on such occas­ because of its bearing oil the renewed outflow of gold.
ion-. Importers are rushing goods through the Obviously there is a very close connection between the
(--i-t'.m Mouse- and through the bonded warehouses large merchandise imports and the efflux of gold. Per­
to g< the benefit of the existing lower rates of haps it may be thought that the heavy Customs pay­
*i
duty.
That this is the sole cause for the im­ ments reflect not so much exceptional imports as large
provement in the relation between receipts and withdrawals of goods from the bonded warehouses. In
disbursements becomes very evident when we examine March certainly the withdrawals were large, in April
the figure, critically. The receipts for March we have they appear to have tieen less of a feature—probably
e
seen wort #36,217,6(12, for April 837,812,135. These because those who Hired that the retroactive provision
are very heavy aggregates. In the one case the amount in the tariff bill as it passed the House might become
h $10,176,513 in excess of that lor the correspond- a law took their goods out of bond before the date
tng room last year, in the other case it is 813,529,242 fixed for the provision to go into effect, namely the
in excess In 1.1her word,- the totals of the receipts in 1st of April.
1896 veer
i v c y only 20 millions and 24j- millions,
We have only the dry goods withdrawals as a
linns and 37} millions now. Comparing guide, but in that cise the distinction in this respect
hs immediately preceding, the average between March and April is very marked. For the
receipts for the period from July to four weeks ending March 31 the withdrawals of dry
v-ivo was only 25| million dollars, goods from the bonded warehouses at this point the
avorag of 37 million dollars for March and present year were §6,039,451, against only $1,911,091
e revenues the last two months have in the corresponding four weeks of last year ; at the
mt m e xeess of recent monthly same time the entries for warehousing were very light,
i1
reaching only $1,087)694 in 1897 against $2,183,782 in
vsis a step further we ascertain 1896. On the other band, for the four weeks ending
magnitude of the Government April 30 the withdravals and entries show only com­
noth.- is due entirely to the large paratively small chai ges contrasted with last year, the
UBS onis: payments.
These Customs withdrawals being $2,152,168 against $1,627,770, and
l a r i s /:

governm ent

r e c e ip t s

a

May S, 1897.]

THE CHRONICLE.

the entries $1,890,681 against $1,790,176.
form the figures are as follows.
DRY GOODS IMPORTS AT NEW YORK.

Four Weeks March—
1897.
Warehouse withdrawals.................$6,039,451
Warehouse entries........................... 1,087,694
Four Weeks April—
Warehouse withdrawals...................2,152,168
Warehouse entries.......................... 1,890,681

871

In tabular

Net Gold.
Total Cash. Cash Balance.
May 1.
$
S
$
1897
................... 153,340,890
270,253,828
228,090,517
1896..............................125,393,900
307,911,963
271,090,661
1895............................. 91,247,144
219,400,568
180.817,916
1896.
1894..............................100,202.009
169,197,533
125,097,786
$1,911,091 1898
.................... 97,011,330
159,797,919
121,482,904
2,183,782
Total cash holdings, it will be seen, are a little less

l ’79o’l ”6 i ^ an a^ ^his date last year, but the gold holdings are
very much larger than in any of the other years
Entirely independent of the withdrawals, however, 1
given. Thus the situation is that on the one hand
the imports have been extraordinarily large-l a r g e the gold exports are largely due to a special cause
almost beyond precedent. The report of
theimporta'
which must soon be greatly
diminished
tions for the whole country for April Is
not yet J
on the other hand they come at a time when the
available. For March the imports footed up $ 7 6 ,3 7 3 ,-1Government is better able than for a long time past to
000. This compares with only $59,237,000 for the stand a drain,
month preceding (February) and with but $51,354,000
for January, and is the largest total reached in any
TH E S O U T H E R N P A C IF IC A N D TH E
month of any year since 1893. For April the total
D E C L IN E I N R A T E S .
must have been still larger, judging by the movement
at this port. For the four weeks ending April 29th
the dry goods imports at Hew York were $14,669,008
in 1897, against $7,366,770 in 1896, an increase of
nearly 100 per cent, and the importations of all kinds,
including dry goods, were $53,891,830, against $36,301,537, an increase of about 50 per cent. For March, with
total merchandise imports at all the ports of $76,373,-

The Southern Pacific Company has changed its
fiscal year, and the annual report will hereafter cover
the year ending June 30, which is the fiscal year of
the Inter-State Commerce Commission and of most
|of the State railroad commissions, instead of the
|calendar year. For the information of the security

j holders, however, a report for the late calendar year
000, the imports at New York were $46,878,360. As is made in the usual way. This is called an “ abridged*
for four weeks (28 days) in April the New York figures j report, but even this abridged report makes a bulky
show imports of $53,891,830, it is evident that when pamphlet, folio size. One reason is that the affairs of
the figures for the whole country are made up we shall |the company are very extensive, another is that its
have a total greatly in excess of the seventy-six million , accounts and operations are always stated with much
dollars reached in March. Not unlikely the aggregate , fullness and detail.
The late calendar year was, as is known, one of con­
will break all previous monthly records.
With such large merchandise imports, the gold ex­ tinuous and very severe depression in business. Y et
port movement possesses no element of surprise, p a r -, the company is able to show a surplus on the opera­
ticularly when, as pointed out last week, it is con-1 tions of the twelve months in the sum of $1,789,553.
sidered that these imports come at a time when some j Gross earnings fell off as much as $1,790,358, but the
of the European countries, and particularly Austria, j large sums expended in previous years for betterments
are offering special inducements to obtain gold. O b -. anc^ additions have permitted the carrying out of
viously, too, as the imports can hardly be expected to , imPortant economies in operation, and expenses were
continue at their present volume indefinitely, the du reduced $1,280,229, leaving a loss in net of only
One element in the saving in expenses has
ration of the gold efflux, so far as it is controlled by } $510,129.
been the attention paid to the loading of cars. On the
that circumstance, promises to be limited.
There is one other feature of the Treasury state- j Pacific System, while the number of tons of freight
ments that possesses much interest in connection with ; handled was but little less than in 1895, and the
barely 3J per
the gold movement. We refer to the extent of t h e , falling off in ton miles was
cent,
the
decrease
in
revenue train mileage
holdings of gold and of cash. It is a great many years j
since the Treasury has held such a large gold reserve was over 12£ per cent, and there was a reduc­
as at present. This reserve has been steadily increas­ tion in the loaded car mileage of fully 8 per cent and
ing under the revival of confidence that the November in the empty car mileage of over 15 per cent. The
election brought, and of course the sudden abundance average train load was increased by 17 tons, or over 10
of revenues which has developed during the last two per cent. On the Atlantic properties a reduction in
months has tended further to swell the accumulation , tonnage of 6 -21 per cent was attended by a reduction
of gold in the Treasury vaults. Thus it happens that of 7 ‘45 per cent in car mileage and on the Houston &
the net gold holdings May 1 are found to be larger Texas Central lines 4-18 per cent additional tonnage
than they were April 1 (the amounts are $153,340,890, was moved with 2 -43 per cent less car mileage.
As indicating the saving in another way, through
against $151,786,464), notwithstanding the withdraw­
the large betterment outlays in past years, the report
als for export. Not all the gold that went out last
week appears in the statement for May 1, but $2,477,- presents a table to show the steady reduction, year by
000 of the amount does, and hence the Treasury year, in the cost of repairing and maintaining timber
balance increased 1£ million dolkrs during the month trestli ng on the Atlantic properties, before and after
in face of the 2^ millions exports. On the 5th of last renewals were made with creosoted lumber and bal­
November the Government gold balance was only $114,- lasted decks. Beginning with 1891, when the effect
957,109, on July 23 last year (before the gold holdings of these renewals became apparent, the cost per annum
had been replenished through the action of the banks) , has been as follows :

the amount was only $89,669,971, and on February 10
1896 it was but $42,066,860. To show how much
stronger the position of the Treasury now is than at
the corresponding date! of other years we present the
following statement.

j
18 91
1892
1893
1894
1895
1896

Total
Cost p er
Expenses.
Lineal Foot.
..................................................................$317,848 42
$1 212
..................................................
266,409 62
•975
........................................................... 201,216 32
261,216 3
■953
.......................................................... 139,447 08
•494
..................................................
130,020 19
•459
...........................
98,393 61
•346

872

I H K

fVoL. UCIV.

C H R O N I C L E .

it will be seen that while the expenditures for this have temporarily checked the steady development o f

purpose « n the Atltttiti' ■properties in 1801 were$3L7,<S18. the resources of that State. "With higher prices for
in IfilM 1 atuomil was only $98,303, the cost per their products and large crops which now seem
i the
lineal too t having booi t reduced from #1 "212 in 1891 to assured, we may reasonably expect a general improve­
ment in business, and, as a sequence, also in the
tOfiHfi iu 189ti.
Pn tent Huntington discusses quite tit length the earnings of these lines."
rre&f due: ion in rates which has occurred in recent
war*, and the important losses which have resulted to
FAILURES B Y BRANCHES OF TRADE.
the roads from this cause, and the corresponding
Col. W . M. Grosvenor, the editor o f D uns Review, has
gains to th- public. He shows that since 1885 the kindly furnished us with the following statement showing
average receipt per ton per mile on the Southern Pa­ the failures in the United States by branches o f trade for
cific System has fallen from 1’98 to only 1’10 cents, the month o f April during the last three years.
FAILURES BY BRANCHES OF BUSINESS IN APRIL.
being a decline of over 14 per cent. The density of
Month of April.
traffic in the same period increased over 88 per cent,
Maii-H/actHrm,
1897.
1896.
that is the number of tons of freight carried one
No. Liabilities. No. |
Liabilities. No. Liabilities.
mile per mile of road rose from 184,865 to
$
701.419
:: h ,6 s ;5.
N'otwithstanding this growth in traffic, Iron foundries and nails..
18
(h ,7 9
$7
2*05,491
Machinery and tools_____
43,258
6
! 8M
00
186,057
WO' iPns.
5 913,606
15,00'i
however, the earnings per mile of road, owing to Cottons, e'rpTs&knitcoods 14 265,800 3 20VOO
. jttons, lace arid hosiery..
564,919
26
490,*
Ijutnh’r,ti&rp,iitir8& coop'rs
18! 1,5110,70.7
372, w
50
the decline iu rates, were only 5 per cent larger, Clot hing and millinery. ...
2
6
n 46?*,5 0
163,900
1
Hats, gloves and furs. ...
«
40,500
5
213,000
being 8 >.sv; for 1896, against 83,665 for 1885. Had Chemicals, drugs & oaints.
4,700
3
4 2H6/I-0
)
177,400
Printing and engraving—
85,904
13
163,422
16
06.990
3
5 848,000 17; 232,500
the companies been able to realize the same Milling and bakers..........
584,575
14
Leather, shoes & harness
82, >81
H 190.000
207.770
201,21 J
33.1
Liquors and tobacco.......
2i 672,721
4
103,500
average of rates as in 1885, earnings in 1896 would Glass, earthenware & brick
4 36,000
6 308,321
111,473
73! 3,265,977
75 3,161,120;;
1,160,004
have been $20,578,809 greater than they have proved All other
Total manufacturing.
220 *12,437,979
262 0,652,522 j 228 L 2 M 0
5C M
to be. For the whole eleven years the saving to the
Traders.
1 1 732.985 117 854,481 341 1,053,157
1
public by reason of the reduction in rates has been General stores . . . . . . . . __
Groceries, meats and fish
517," 51
143 514,2.1 154
120
806,305
107,819
2
KsUhOhOU on the Pa itic System lines and $50,125,884 Hotels and restaurants... . ay 274,817 33 203.154 8
Liquors and tobacco......
72 j
2
74
4 ; 331 610 48 457,668 7 mgs
8
ling and furnishing...
4?0,:->5.
4 513.250
3
on the Atlantic System lines, or over 130 million dol I I goods and carpets. -..
rv
331
597,163
0
2 4 W 40 645,127 5
&.0
30!
oes, rubbers.......
4 680,286
jars together. Mr. Huntington says there are prob­ Shoes, rubbers and trunks. 34 200,038 22 388,800 4
Furniture and crockery..
irniture
2
9 212,8001 15 192,566
25!
Hardware, stoves & tools,
180.* 28:
31
20,5051 41
270,824
18',902;
32;
ably no other railroad properties in this country where Drugs and paints,......
35
j
83
170,992
Jewelry and clocks_
_
12;
26
238,605
18
245,895
Books and pacers.. ...
7 nkm 16 106,615 20 127,475
the reduction in expenses resulting from unification in Hats, furs and gloves.,
126 1,0 ..<2,046j
as
rai.i24!
115
«
•of lines, economy in work­ All other.......... .
Total trading...............
704 4,658,564
722 5,520,74 5 i 758 6,310,710
ing expenses and outlays for improvements by which Brokers and transporters. 17 516,934
1(1
ato,431
13
129,100
943 17.013 477: 1.006 12.487,697 ■ i§ | 10.060,459
Total commercial expenses may be still further lessoned, have con­
tributed to the public so large a sum in so short a * Includes five New Bedford cotton mill failures for $7.99'.,'734.
Note:.—Iron, woolens and cottons include all fcbe branches o f those manu­
factures? machinery
and tools; lumber Includes saw
period. The amount of the reduction in rates on the planing, sash and door includes implements coopers; clothing includes millitmry
mills, cam enters and
and
hats include furs and gloves;
drugs fertili­
Pacific System lines is considered especially note zers,furnishings;oils; printing and books includechemicals includemaps; milling
paints and
engraving and
includes baking;
worthy in view of the much higher prices than other and rubber goods;leather and shoes include makers of harness, saddlery, trunks
liquors include, tobacco, wines, brewers and beer; glass In­
cludes earthenware, pottery, brick, lime and cement: groceries include meats
include oarMts
road* which these lines have to pay for fuel, wages and fish; hotels include restaurants; drygoods stoves and tools and curtain a :
furniture includes crockery; hardware includes
includes clocks and watcher Brokers Include <“
and all material entering into their operations.
or produce dealers whose main business is not ft
Mr. Huntington thinks that the limit of the down­ with mortgage and other loan concerns, and transporters include all except in­
corporated railway companies
ward tendency of rates has evidently been reached, i f
the owner* of the railroads and their managers can
Clearings by Telegraph.—Sale3 ol Stocks, Bonds, die.—
tot :c of reasonable rates, just Stock Exchange Clearing-House Transactions.—The sub­
and equitable to all. However bad the laws may be, joined statement, covering the clearings for the cur re at week,
these have in his estimation never damaged the railroad us rally appears on the first page of the Chronicle, but
on account of the length Of the other tables is crowded out
properties of this country so much as have the people once a mouth, The figures are received by telegraph from
who owned them, by their want of faith in each other the leading cities. It w illbs observed that as compared with
.mments with each other. the corresponding week of 1893 there is an i acreage in the ag­
Apropos of the Supreme Court decision in the gregate of 4*2 par cent. So far as the individual cities are
Trans-Missouri Freight cases, he expresses the opin­ concerned New York exh.bits a gain of 8*1 per cent, and the
ion that “ means ean certainly be found for operating gains at other points are : Boston 9*7 per cent, Baltimore 17*4
per cent and St. Louis 9-3! per cent. The losses are : Philadel­
t
railroads of this country, representing one-fifth its phia 5*7, Chicago 7'9 and New Orleans 25*7 per cent.
m um ■ 1th, so as to give some returns to those who
a
-r
W eek E n d in g Man 8.
haw* i --•ted their money in them without its being
•
‘
CLEARINGS.
R eturns b y 'telegraph.
1897,
1896.
illegal
/*«•
unconstitutional,” He says that experience
Now York.............................
$82$,860,74 t
$489,293,757
fiig g e s
+8-1
a modification of the Inter-State Commerce
Boston...............- . . . . .. . . . . . .
90,187,052
82,209,712
9-7
h m f : % mi rathe agreements between railroads, sanc- Plitladelpliia............ .............
m
01,549,329
—5*7
54,661,263
13,924,824
17-4
11,859,947
tli© Commission, can he made enforceable be­ Baltimore.............................
Chicago .................
83,413,224
—7*0
89,472,012
tw een
ham* lli prohibitions and penalties prescribed St Louis . . . . . . . . . . . . . . . . . . . . .
23,039,042
‘9t
21,080,778
5,510,214
-25*7
7,411,378
tm mrmm i o he applicable to their customers and New Orleans.......... ........... .. _
*795,491,039
Seven cities, 5 days — .
$755,989,477
5*2
m . H e also argues in favor of placing a restric133,436,248
Ottior cities, 8 days............. .
132,010,247
+1*1
lio n upon tin ■ license to construct new roads where
$928,927,877
$888,005,724
Total all eltlos, 5 flays_
+4*8
173,417,92G
169,440,301
+2-3
the* building of m eh lit.H k without proportionate All cities, 1 day........- ......... .
‘8
benefit to th© public,

Total all cities for woek

bl. 102,315,803

$1,057,410,025

+4*2

Another table, our ui 1 monthly detailed statement o
Attention is called to the fact that the prospects
transactions on the various New York Exchanges, has also
fer larco' crops along the lines of the Southern
PacifiCare quite encouraging. Mr. Huntington says been crowded off of the irst page. The results for the four
months of the current year, are, however, given below and
ti-M crops arc particularly promising in California, for purposes of comparison the figures for the correspondi
wher. crop "uhir.:? and low prices for several years* ing period of 1890 are alsp presented.

THE CHRONICLE.

Ma y 8, 1897.J
Four Months, 1897.
•Description. Par Value
or Quantity
14,777.736
11111348060
RR. bonds.. 1134,593.890
Gov’t bonds 45.41'‘,600
6748,500
■State bonds
6U8.960
Bank stocks

Four Months, 1896.

Actual
Aver’ge
Average- Par Value
Value.
Price.
Price. or Quantity
18.383,902
1934,523,458 66*2 { 61668,8^6.425 [1065569546 63*8
4145.599,620 6101.2-0.9-1 69*6
4104.887.189 77*9
614,8-8,650 $17,323,306 116*4
66,600.135 122*0
#629,571 57*8
$1,090,000
1428,277 57*2
6440,992 174*1
$2o3,250
6221.018 185*8
Actual
Value,

Total.... 41552221900 41,046660077 67*4 $1830,727,945 11,185234386 64’7
13,317.300 $514,961,040 $38*67
9,249.700 6326,654,965 635*32
-Cotton., bis.
Grain, bush. 464,705,072 6354,72-1.629 76 l-3c. 308,753,037 $205,292,798 66&e.
$1906488224
41,72804 1671
Total value.
ly t o a e t ir e g l ® p m m e r c ia I 3 ^ tr flI is I x i| e to s
L o n d o n , S a t u r d a y , April
[From oar ow n correspondent.]

24, 1897.

373

the exceedingly satisfactory Easter traffic earnings. The
Easter holidays were unusually wet and on some days there
were heavy thunderstorms accompanied by hail; yet the
passenger receipts are exceedingly good. Therefore there
was a general advance in British railway stocks, Consols
recovered from the fall of the day before, and even foreign
government securities generally advanced. But the invest­
ing public is holding quite aloof. What business there is is
purely professional.
In European government securities there is little done, even
in the best of timee, in this market; at the present moment
there is practically nothing doing. The firmness is entirely
due to the Paris Bourse. In the American department the
public is holding aloof, but members of the Stock Ex­
change and some outside operators have bought London
favorites on the fall at the beginning of the week. In South
American securities little has been doing, but there is more
activity in the South African department, partly due to the
more favorable view taken of the prospects in the Transvaal
and partly because during the past few weeks there has been
a very large “ bear ” account opened in that market. Broadly
speaking, however, the public is not buying, and at any
moment the mere professionals may turn round.
As regards trade, the reports are favorable, although there
are loud complaints from Belfast that the Dingley tariff has
injured the linen trade, and few American orders have been
placed for a month or so back in Bradford.
The outlook for the farming industry is less satisfactory.
The winter and spring have been exceedingly wet, and during
the past couple of months especially farmers have found it
impossible in stiff heavy soils to sow their fields. Barley is
unusually late, and in many localities the farmers have now
decided to put in oats instead of barley. The lateness of the
grain sowing makes it Drobable that the harvest will be late
likewise and the agricultural interest is therefore much de­
pressed. On the other hand gra?s is very forward, and the
prospect at present is that the hay crop will be abundant.
The outbreak of hostilities has had even less influence upon
the money market than upon stocks. The quotation in the
open market for three months bills is 1% per cent, but busi­
ness has been done most generally at 1 516. Loans for a
week or a fortnight have ranged from % to one per cent, and
thp probability is that there will be little advance provided
political alarm does not arise. Both Austria Hungary and
Japan are buying gold on a large scale, and as soon as politics
allow, it is understood that there will be a Russian loan of 10
millions sterling in Berlin, and that a Russian demand will
arise. But the supply in the open market is so large and the
demand so small that the banks and discount houses are un­
able to advance rates. There would be a very great change,
no doubt, if the danger of war were to disappear and there
were to be a general outburst of speculation, but while things
continue as at present rates are more likely to decline than
advance.
The silver market is weak, and the India Council fails to
dispose of the whole of its drafts offered for tender, probably
because the India Council is really unwilling to sell very
freely. It offers more than it oan dispose of but it asks a
prioe which the exchange banks refuse to give. The expla­
nation doubtless is that the Indian treasuries having to pro­
vide such large sums for famine relief are not in a position to
meet verv considerable demands on the part of the exchange
banks. On Wednesday the India Council offered for tender
35 lacs, and the applications amounted to a little over 28%
lacs; 21% lacs in bills were sold and 'hree lacs in telegraphic
transfers; the average price for the bills was Is. 3d. per rupee
and for the transfers Is. 3 5-32d.
In India there is no change for the better yet reported. The
numbers on the famine relief works do not diminish, and
though there is some abatement of the plague inBombav and
Kurracchee, it seems to be spreading slowly and gradually
inwards.
The “ Railway News ” of London reports the traffic receipts
for the week ending April 18 of 55 railways of the United
Kingdom which make weekly returns at £1,703,224, against
£1,537,837 in the corresponding week of last year, an increase
of £165,387. For the sixteen weeks of the current half-year
receipts were £24,178,075, an increase of £605,406.
The rates for money have been as follows:

On Sunday the long-threatened war between Greece and
Turkey broke out, but the effect upon the European stock
markets has been small. So many alarming events have oc­
curred during the past year and a-half that speculation has
been utterly paralyzed, and there is in consequence no “ bull”
account open anywhere, at least none worth speaking of.
The markets, therefore, are able to take a cool view of affairs.
The business community throughout Europe generally is
persuaded that the struggle will be localized, that Greece will
be quickly defeated, that the Powers will then intervene, and
that the Greek forces will have to withdraw from Crete, while
Turkey will be prevented from annexing any Greek territory.
There is, therefore, a rather sanguine feeling not only in this
■country but on the Continent also, and especially in Paris.
In political circles, however, there is not quite so much
confidence. That England, France and Italy are earnestly
endeavoring to maintain the Concert of the Powers, to protect.
Greece from the consequences of her rashness, and to restrain
Servia and Bulgaria, is beyond all doubt. It is also certain
that Austria Hungary is most anxious to prevent the disturb*
ances from spreading. But there is much more doubt as to
the real policy of Germany and Russia. That Germany de
sires to bring about a better understanding with Russia every'
body believes, but there is less agreement as to how she is en.
•deavoring at the present moment to attain her aim. One
opinion is that she has deliberately urged Turkey to attack
•Greece before the other Balkan States could make up their
minds to act, that she has thereby put Russia in a difficulty,
and that she hopes to bring about a difference between Russia
and France. France is intent upon keeping Russia out of
Constantinople, and protecting Greece. Russia, on the other
hand, wishes to keep Greece weak, and to strengthen her con
trol over Turkey.
Another view is that Germany and Russia have a private
understanding, and that we are about to witness a new group­
ing of the Powers. Whatever the real facts are, there is much
more confidence in business circles than amongst political
people. The European stock exchanges, therefore, are in­
clined to welcome every Turkish success, calculating that
Turkey will not be allowed to extend her territory, and that a
decisive Greek defeat will remove the dangers to which Europe
is exposed.
There is also a much more hopeful feeling here this week
than there has been fir a long time past respecting South
Africa. The great mining magnates apparently have at last
come to see that their own dissensions have enabled Presi­
dent Kruger to treat them without consideration, and subject
them to all kinds of harassing legislation. Mr. Robinson, Mr.
Eckstein, Mr. Barnato and Mr. Albu are therefore endeavor­
ing to bring about a general combination. So far they have
failed to unite the Chamber of Mines and the Mining Associa­
tion, but they have brought the leading people together, and
have agreed upon a petition to the Volksraad. It is said,
moreover, that since Dr. Leyds left Pretoria the Boer Gov­
ernment has shown itself much more amenable to reason.
Interest allowed
And, lastly, it is understood that the French Government has
Open Market Kates,
for deposits by
warned President Kruger that his present attitude towards
Trade Bill*.
Bank Bills.
Disc't JE s*
T
the Uitlanders justifies English intervention, and that there­
2
Sir
Three Four
Six
Stock At 7 to U
a Three Four
fore if he does not change bis policy he will lose the sympathy
9 Months Months Months Months Months Months Banks. Call. Days.
4
-of all Europe.
•
♦
*
2
2
m i*
Mar. 26 3
IX
m
The London Stock Exchange was closed from Thursday Apr. 2 3
IK m
IK mom m@m 1«@2
IX
in
evening till Tuesday morning. When it opened on the latter • 0 2K 1 1-10
*
1
X
i
IK
im ix 1X@1H 151®2 1
“
16 2* l*@U<
Y
1
m
H 1
IX
mat% m
day there was a slight fall in all departi ents, but as the day
23 2* 1 6-10
1
mam m
m 1M®2
H 1
ltd
advanced a mi re favorable view was taken of the situation,
• 1 7-16@ -lK.
+ 1 1-18«1K
t 1 3.16@1KT 1K *1 S-1S.
and on Wednesday there was a very general recovery.
The following return shows the position of the Bank of
Apart from politics the recovery war s‘rengthened by the [ England, the Bank rate of discount, the prioe of consols,
favorable reports of irade throughout the country and by &c., compared with the last three years

THE CHRONICLE.

874
!*♦ A.
Jfprfl f i .
April Si.
M
A
m i, w j m i m

m-*
A ptU2h,
£
ti ,020.250
,070.020
* -L»lS

April t-1.
jt

S.'iS!t4fl9
136 SIS S3..5a*
S3*
U *dit 000
tBSll.
m mKm rnmi ** TttTltffti
&M tn«1&S^SS7 IS, ICS aO* gi),838,880
V
t *.* 1.1 S3 S3 8 JO508 tfk tvi M J '2S 717,057
H i i t .§8,i.8*W ST,102 232 trt 658,957
3
Mi
id
so i-w
07 £ 4 6
£U;;t r » : ,
.p<tr Cflib.
t<j>
X
V
Cun*>i».
P»* w o t
HIM
112%
SMM
iUTe, '
S
‘S%«.
814AtftP. 1(1
(1
24 &•!<!.-.
O w r u M -t t o u * f m w m .............t a , J % w m .n u o x - u « , « o .c o o
* Jlpfit U *
S’
T h - B an k ra te o f d is c o u n t a n d o p e n m a rk e t ra tes a t th y
c h ie f C o n t in e n t a l o it ii > h a v e b e e n a s f o l l o w s :
-

Ha nk
fiat4,

Ba nk
Open
Hate. I Market

H a t* ........... .
8*rUu_.
UlW-fear*!.
Fiwftkfon.,
Am*t*rCa-a....
8ftt»«*)» ...
f
,,
Si. I*«?*r»eorjf
Madrid........

s
a

m
m
2
m
m
4
4

9
3

$
*
«
6
4

l

flank
Hate.

Bank
Bate

Open
Market

2
8%
3%
3%
ss*
3
*
k
&
4

Market

f
3
3
8
3
»
i
0
b
4

• m
m

April 2.

Apr l 9.

April 16.

April 23'
m uM & f
insmmt *ii

i%
2%
m
2%
m
2
SH
t>H
4
4

m
m
i’ M
s,%
2
m
m
i
i

m
3M
m
**%
■■
3
♦
a
b
4

opm
Market
m
m
3
m
t
t
m
6%
5
4

Mes.-r-. Pixler & Abell write as follows u ider dace of
April a a :
G old
A lth ou gh the d em an d s o n the B an k a re s o m e w h a t lessen ed ,
tin- Uiquirv con tin u es without In term ission . T h e a m ou n t sold by the
8 1 0 6 ,0 0 0 , w h ile « lo",O C O has been paid in. A r
riv al*: « V s i I,.d ies. *3 -3.0 0 ; A u stra lia , £ 2 1 2 ,OOt; C hina, * .5 .0 0 0 ;
B o m b .y . A i« ,O 0 i ; C ap etow n , * 1 4 1 ,0 0 0 . T o ta l, £ 1 8 3 ,0 0 0 S hipm en ts
30 J a p a n . £ 7 4 7 ," 0 0 .
S ilver,—T h e m arket w a s q u ite a n o m iu a l one at the en d o f la st w ee k ;
sin ce then tin- p rice has s lig h tly d e clin e d , b u t a t ?8*i>,d. th e m a rk et is
i t c a d r . I he B om b a y p rice is R *. 7 7 % . A rriv a ls : N ew Y o i k , £ 1 6 9 ,0 0 0 ; West in d ie*, A i9 ,o o 0 . T o ta l, * 2 7 8 ,0 0 0 .
S h ip m en ts to B om b a y,
£ >33,1.00.
M ex ica n D olla rs,—T hese co in re m a in n om inal.

© o n u n c v c ta la u tlB U s cc lU tn c o u s I^ c iu js
N ational B anks.— The following information regarding
national banks is from the Treasury Department:
N A TIO N A L J U N K S O R O A N IX E D .

5 .0 6 3 —

A fw il 1
Si l v e r .
1 5. ; L o n d o n S ta n d a rd

A p r il
22.

B a r >mi<l, lin e ___ ox.
Bar’goSd, partiR g.ox.
Bpaniah, o ld ___ _ oz.
N ew ---------------- o x
u . J?. g o ld c o l n ...o z .
G e rn rn #rold co in .o z.
F ren ch Kold c o in .o z .

d. *.
77 11% 78
78 0% 78
76 0% 76
7 6 1% 16
76 5% 76
76 3% 7 6
76 3% 76

a. !
0 :
0%
0%
1%
5%
3%
3%

A p r il A p r il
22.
15

B ar s ilv e r, fin e ,.. oz.
B ar s ilv e r , contain*/?
d o 5 gra. g o ld .o z .
d o 4 g rs. g o ld oz.
d o 3 g rs. g o ld .o z ,
C ak e s liv e r . . . oz.
M e x ica n d o lla r s , oz.

d.
285,,

d.
28% e

281316
28%
28% b
3 0 t3
27%

28 5,6
28%
2 8 », Q
3058
27%

T h e F irst N ational

450.000.

B ank o '

W in d o w .

M inn esota.

C a p ita l,

A. 1). I’.-rkln*. President: W. J. -lark, Oashter.

5 .0 6 4 —T h e N ation

11 m k o f (B urney. S outh C arolin a.

a

C ap ita l, $ 5 0 ,-

o 0.

K, O. Stacy, President; D 0 Rons. Cashier

000.

J o h n blab ok, P re sid e n t: Em it K le s e w e tte r , C ash ier.

5.065—The Ohio National Hank of Columbus. Ohio

Capital >400,-

CO RATE E
RPO
XISTE C EXTEN ED
NE
D .
2 ,3 5 5 —T h e N a tion a l S tate B ank o f B o u ld e r, C o lo r a d o , a n t !! A p r il 1 8 ,
1917.

(GOVERNMENT Revenue and E x p e n d i t u r e s .— Through the
courtesy of the Secretary of the Treasury, we are enabled to
place before our readers to-day the details of Government
receipts and disbursements for the month of April. From
previous returns we obtain the figures for previous months,
and in that manner complete the statement for the ten
months of the fiscal years 1896-07 and 1895-96
receipts (000« orotttedi
1890-97.

1895-96.

Cuj*
tome.
Inly...,
Ang .
3epi*,..
Oct.. .
Nov...
Dec....
Jan,..re b
Vlarch.
Atprll..

Inter’* N.B/f, \fiscH 'fatal.
Tted’p.
liev'uf Fund ■Trees

t
V.M.
Oun- Inter ’ Redp. H
I#c*< Total
toms. Rev'ut Fund. Frees

»
12,157
12.330
11.374
11,231
9.930
10,779
11,09
11.587
22.834
24.454

i
14.308
11.961
11,679
13.475
18.105
13,109
10625
10,^88
1L9-0
11,447

1
14.077
15.639
14,661
14,347
11,455
12,109
17.375
13.90'*
13,34 4
11,81*1

$
2.509
1,271
1,531
2.538
2,175
1.880
2.719
2.160
1,458
1,911

t
370
28
06
89
958
1.222
3.006
3.201
1,748
1242

»
29 899
25,58-'
24.050
27.353
26,168
27/ 8"
27,441
27,826
S7.9H0
39,054

%
12.898
12,172
12.260
13,701
13.040
12.761
11,176
10.807
11.686
11,*28

%
2,094
1.142
030
1.610
1,491
1.369
2.301
1.846
1.161
1.211

1
1-2
856
470
487
61U
802
433
992
341
178

t
20,251
29.300
28,026
30,208
26,696
26,051
31,375
27.051
26,382
24,401

10 nto# 137.7-7 122.0'8 11 92 20.202 292,522 13H.782 121,630 4,4)7 14,481 279,31
0
DISBURR8MRNT« (0008 om itted >
1896-97

1895-90

Ordinary.

The quotations for bullion are reported as fnlln
Gold.
L on d on S tandard

[VOL. LX1V,

Inly....
A*n*£...
4ept....
Oct.....
Nov—
Deo..
ia »......
F eb....
March..
A.?nL..

N.M.
Pen- In- fted’p. Total.
sions. terest Fund

i
22 277
20.H08
14,071
18,5*8
16,885
11,894
12,904
12,(530
14.5H9
15,707

»
I3,i0i
12,396
11,480
10.340
13,179
11,431
10,542
13,208
12,167
10,764

i
t
%
783 42,871
0,710
482 30,1^4
2,938
450 27.C30
423
40! 34.42b
5,033
3,197
888 34,149
890 24,702
487
0,705 885 31,156
2,953 1,108 29,904
457 1,170 28,389
5,612
9.4 32,987

Ordinary

N.Bk.
Pen
In- Red’p
sions. tercet. Fund.

t
18.485
18,437
13,316
17,434
12.865
14,125
15,423
12JT4
14,892
13,709

*
12,755
12,30k
10,708
11.891
12,235
11,367
9,967
12.317
11,7H
10,077

f
$
i
7,308 9
7-1 38,523
1,846
04: 33,235
296
93 25,255
599 35,093
5,168
2,069 l.OQv 28.298
322 919 20,738
6.985 1,119 33,494
2.208 1,103 27.852
672 9 2 £8,1
5.141
684 2«,6

The following shows the imports of oereal produce into 10 mfi». 160 5731
118.020 34.57 > 8.03" 32l,800i HiO 910 115 326 32.108 8 991 '07 3
he United Kingdom during the first thirty-three weeks of
I mports and Exports for the W eek .—The following ar s
the season compared with previous seasons:
the imports at New York for the week ending for dry goodB
IMPORTS.
April 29 and for the week ending for general merchandise
1 8 9 6 -7 ..
1895-6.
1894-5.
1893-4.
April 30; also totals since the beginning of the first week in
tm p o n * o f w h eat,ow t. 1 3,7 12 ,6 3 0 4 1 .8 9 3 .2 7 0 4 4 ,0 5 2 .8 6 6 3 6 .9 4 8 ,6 0 4
January.
B a r le y ............................ 1 6 ,0 9 9 ,8 9 0 1 6 .2 6 0 ,7 2 0 1 8 .2 1 2 ,5 4 4 2 1 ,6 3 0 .1 1 3
FOREIGN IM RTS AT N YORK.
PO
EW
D a t a .....................
1 1.0 0 8 ,2 4 0
8 ,3 2 5 .0 8 0
8 ,6 1 9 .1 2 7
8,2 0.801
P e a « ............................... 2 ,2 5 7 .2 8 0
B e a n s ......... ................... 1 ,8 8 4,92 0
Indian c o r n ...................3 9 ,9 3 8 ,7 8 0
F l o u r .............................. 1 4.5 8 8 ,6 7 0

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

1 ,5 9 4 .3 7 9
2 ,8 3 4 .8 2 2
1 6 ,7 5 6 ,7 14
1 2 ,5 5 6 ,3 9 0

1 ,7 1 2 .3 4 3
3 .5 3 7 ,9 5 9
2 0 ,5 9 6 ,5 1 9
1 2.1 4 4 ,1 6 1

Supplies available for consumption (exclusive of stocks on
September 1):
1896-7.
W heat im p orted , o w t. 4 3 ,7 4 2 ,6 3 0

1 89 5 -6 .
4 1 .8 9 3 .2 7 0
1 3 .6 9 6 .1 2 0
1 0,4 9 1 ,5 9 1

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

1893-4.
3 6 ,9 4 8 ,6 0 4
1 2.1 44 ,1 6 1
1 5 .7 1 4 ,6 4 2

T o t a l........................ 7 5 ,5 9 8 ,9 9 3 0 6 ,0 8 0 ,9 8 1
1896-7,
1895-6.
A v e r.p rle e w h e a t,w e e k .2 7 a . 0 1.
21*. l i d .
A vera g e p rloe, aeaaon. 29a. 0.1.
25a. 01.

7 1 ,3 9 2 ,2 3 1
1894-5.
20s. 4 4.
19a. 104.

6 4 .8 0 7 .4 0 7
1893-4.
21s. 7 d.
26s, Id .

Import* of flour..... 14,588.670
Bales o f h o m e -g r o w n . 17,2 67 ,6 9 3

B n g lls li

F in a n c ia l

IM a rlte t* - ■Per C a b le .

F or week.

Sat.

Stiver, per ounce......d. 283,6

Consols., n ew , 2% p.ota.
F o r a c c o u n t .................
F rick ren tes (In P a ri») fr. 102-97
A toh. T up. A S an ta FV
|*
_
Do
do
p ref.
C anadian P a cific......... .
C h e e se ca k e A O h io—
Q
C hic. MlSw. & St. P aul
D e a r , A R io O r., p r e f !
S
E rie, © oH iioon. . . . . . . . .
•1
lit
.........
Ililn n fi C e n tra l. . . . . . . .
Lak© 8 ho re ................

"*>
*

VItlW

M ex ica n C en tra l, 4a ..
Mo. K a n . A T e x ., com ,
S . V . Cent*l A fiflM o a .
If. V . O n ta rio A W esi’ n
N orfolk A W e .!' n, p ref.
H o. P a r. p r e f ., tr, root" l

Pe&nsyli-smla........... 1
P h il*. A B e a d ., p e r «h.
Houth’ n R a ilw a y , com . !
P r e fe r r e d ............. . . .
!
O n ion P a cific......... ..
W abash , p r e fe r r e d . . . .

t
'Z
r
>*
<
«
3
o
a
*

Mon.
28%6
112%
112%
1 0 205
10%
19%
04 ^
10%
74%
38 %
12%
29
94%
106%
44%)
71
11
101%
13%
24%
35%
54%
?£
26%
5%
12%

Fuen.

Wed.

Thurs.

Fri.

: 2716,, 2715,„ 28
27 %,
112% 112%
112% 112%
112% 11211,, 112 » ,«
12%
102-95 1U3-07 103 10 103-17
lb %
lb %
10%
10%
! 197
e
2>
19%
19%
54%
54%
54%
54%
16%
17
16%
17
74%
38*4
12%

29
94%
06
. 45%
j 71
11
01%
13%
24%

i 36

54%
9%
1 7-%
26%
; 5%

' 12%

75

38%
12%
20%
94%

166%
45%

74%
38
12
28%

94
166%
44%
69%

74%
38%

12
29
94%
-15%

71
11
101%
14

U01
j 13%

54%
9n

; 54%
! fl%-

36%
54%
0%

26% i 20%
5% ! 5%
13
! 12%

27
5%

ll

24
! 23
30%
35%
g

| g

8

12%

$ 1 ,2 2 8 ,1 6 4
7 ,0 4 2 ,5 9 0

1 89 4 .

T o t a l........
Since Jan. 1.
Dry g ood s.......
Gen’l m er’ dlse

$ 1 4 ,7 8 6 ,1 8 9

$ 8 ,2 7 0 ,7 5 4

$9,21*2,251

$ 8 ,8 4 0 ,1 0 3

$ 4 7 ,1 3 7 ,3 8 9
1 3 1 ,4 9 1 ,5 0 4

$ 4 7 ,5 6 4 ,1 3 5
1 1 9 ,1 1 7 ,8 0 6

$ 5 5 ,2 0 8 ,1 3 7
1 1 9 ,6 1 3 ,6 1 9

$ 3 1 ,3 2 9 ,7 6 8
1 1 6 ,9 6 0 ,5 9 2

$ 2 ,2 2 4 ,1 8 6
6 ,9 8 8 ,0 6 2

$ 1 ,5 8 9 ,6 7 7
7 ,2 5 0 ,4 2 6

Total 17 w eeks $ 17 8 ,6 2 8 ,8 9 3 $ 1 6 6 ,6 8 1 ,9 4 1 $ ! 7 4 ,8 2 1 ,7 5 6 $ 1 4 8 ,2 9 0 ,3 6 0

The foliowing is a statement o f the exports (exclusive o f
speoie) from the port of New York to foreign ports for the
week ending May 3 and from January 1 to date :
EXPORTS FROM NEW YORK FOR TUB WEEK.
1 89 7 .

For th e w e e k ..
Prev. reported

1896

$ 6,9 9 5 ,2 0 7
121 ,78 3 ,3 1 4

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

1894.

1 89 5 .
$ 7 ,3 2 8 ,5 0 6
1 0 9 ,0 4 0 ,6 -1

$ 8 ,7 82 ,4 1 3 1 1 6 ,3 4 3 ,4 3 9

T o ta l 17 w eeks $128,778,5j>l $ 1 2 8 ,4 6 6 ,2 8 0 $ 1 1 6 ,3 6 9 ,1 7 7 $ 1 2 5 ,1 2 5 ,8 5 2

The imports o f dry (foods for one week later will be found
in our report o f the dry goods trade.
The following table shows the exports and imports of speoie
at the port of New York for the week ending May 1 and
since January 1, 1897, and for the corresponding periods in
1896 and 1895:
EXPORTS AND iilFOBTS OF 8FEOIB A I NEW YORK,
Exports,
g o ld .

70%
11
13%

1 89 5 .

$ 3 ,6 7 2 ,1 5 0
1 1,1 14 .0 3 0

The daily closing quotations for securities. Ac. at London
are reported by cable as follows for the week ending May 7:
London.

1 89 6 .

1897.

Dry g o od s.......
a e n ’l m er'dlse

Wtek.
Great- B r i t a i n ..........
F r a n c e - ....................G e r m a n y .-................
W est I dcUo b .............
M e x to o .......................
S outh A m e r ic a ........
A ll o t h e r oou n tries.

$ 9 ’ 9 ,6 6 0
4 ,0 17,331
1,5 >0,0 10
8 ,2 3 1

T o ta l 1 89 7 ..........
T o ta l 1 8 9 0 .........
T o ta l 1 8 9 5 .........

$ 0 ,5l!3,8 72
1 ,4 0 6,89 4
3BS.797

8 ,6 5 0
........ *

S ince J a n , l .
$ 9 7 9 ,6 6 0
4 (55 9 ,3 2 6,
1 ,5 0 0 ,6 0 0 ,
4 6 1 ,70 1
............. 1
1 19 ,43 6 ,
............. 1
$7,6 >0,123
1 7 ,5 2 4 ,5 5 2
3 3 ,1 9 2 ,2 2 5

IlllJIOltl.
W eek.

Since Jet,i . l .

$ 9 7 ,3 3 0

$ 1 1 2 ,0 0 6

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

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

$ 1 7 4 ,9 7 6
3 9 ,8 3 8
7 1 6 ,4 2 3

$ 1,3 3 7 ,3 4 5 1 8 ,0 4 5 ,4 1 7
1 5 ,8 6 2 ,2 5 0

THE CHRONICLE.

May 8, l*»7.J

Im ports.

Exports.

Silver.

Week..
Great B rita in ....... .
Germ any..................
West Indies.............

875

Since Jan. 1.

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

$2,022

$2,579
21,522
3,629
1,704

1,000
68,042
401,120
268,620
8,044

$29,434
50,275
18,437

$748,848
835,362
465,901

$951,450 $15,121,810
431,000
5,750
62,487
18,960

South A m erica.......
All other countries.

18,835

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

Since Jan. 1.

Week.

$970,410 $15,639,882
922,833 17,490,390
693,666 10,7.0,876

Of the above imports for the week in 1897 $18,880 were
American gold coin and $25) American silver coin. Of the
exports during the same time $1,513 300 were American gold
coin.

Wheat,
bush.
124.O 0
O

Corn.
bush.
28,000

Oats,
bush.
9.000

bush.
35,000

»«we«o............. ........
334,000
0 Loam ..............
Do
afloat........
I'IiClU H
D T.1............
1,000
3ost<>f......................
23.000
Toronto..................
123,000
vfont.raaf
..........
805,000
88,000
Philadelphia...........
2,00*
Peoria.
...
.
45,000
Indianapolis ............
Kausa» City............... 186,000
BiiHmore........... .....
421,000
Minneapolis.............. 13,110,001'
On Mississippi River,
On Lakes.................. 2,543,000
>n canal and river...

45,000
423, *00
120.000
3,000
912,000

6,000
37,000

10.000

In store at—

Total May
Total Apr.
Total May
Total May
Total May

.

l, 1.897 34.412,000
24.1897.36 2<U
.00C
2,1890 55.519.000
4 1> 62,190,000
*95
5.1894 65.15S.000

Barley
bush.
*........*«
45,000
1,000

R ye.

20.000
818,000
16,000
83.000
164.000
1,540,000
72.000
91.000
627,Oi. 0

10.000
233,000
59,000
880.000
72,000
44.000
1.000
177,000
102,000
704,000
23,000
1.500,000

1,000
11,000

10,000

6,000
42,000
40,000

3,000

402,000

728,000

16,997.000
21.715,000
11.319,000
9,354, > 0
0
10.359.000

11,722.000
13.711,000
8,210,000
5.816.090
2.659.0O
O

3,195,000
3.520.000
1,421.000
127, > 0
0
352.000

2.291,0' 0
3,073.000
1,134,000
402 000
225,000

44,000
50,000

79,000
1,000

E tr e a d s tu ffg F i g u r e s B r o u g l i t F r o r n
P a g e 9 0 9 .— The
atatements below are prepared by us from the figures of the
Auction Sales.—Among other securities the following, not
New York Produce Exchange The receipts at Western lake regularly dealt in at the Board, were recently sold at auction:
and river ports for the week ending May 1, and since
By Messrs. R. V. Harnett & Co.:
Aug. 1, for each of the last three years, have been as fellows
Receipts at—
Chicago.
Milwaukee.
Duluth.....
Minneap’lts
Toledo.......
Detroit.. .
Cleveland ..
9t Louis...
Peoria
Kansas City

Flour.

Corn.

Wheat

Barley.

Oats.

Rye.

Bbls.lQQIbs BushS>0 'bs Bush. 56lbs Bush.32 lbs Bush. ISlbs Bush.56 lb
623,750 1,305,180
103,250
31,750
50,046
28 381
93,000
13,0d
O
85.000
23,400
154,700
40.4*10
18,704
15,091
70.200
403,2 >
7
20,715
232,200
28.610
1.422 1,253.100
2,00-*
3,140
92,553
171.408
688
9,000
52.504
27,457
428
14 0
28.S05
9 309
70)
11 2 O
-J
120,300
232,055
22.015
56.816
2,25)
4,375
2 0,750
9,000
337,170
0,300
7,80
1,80)
79.000
312,500
45,000

Tot.wk.’97
Same wk.’90
8am e wk.’95
Since Aug. 1
1896-97 ..
1895-96 ...
1894-95 ...

2.142,084
2.113.841
1,885.288

L781.070
1,913,055
1,140,416

2.095,599
2,73 .689
1,681,437

212.919
308,909
224,019

91,160
51.073
92,845

8.743,8 3 138.588,459 122,735 751 132,084,40‘ 34,813.628
8,901 33* 175,312.055 90,019,00- 114.382.020 35,103.012
9,3 8.2*5 129 110,119 62,046.001 71.0*8,23 J 30,259,933

6,272,977
3,293,539
2,274,447

19 <,381
243 046
2.9,458

T h e r e o e ic its o f d o u r a n d g r iin
w e e k e n d e d M a y 1, 1897 , fo llo w :
Flour.
Wheat.
Receipts at—
bush.
bbls.
75,w50
New York.......
7-*,593
Boston.............
23.413
Montreal........
4,538
Philadelphia.......... 34.318
5.841
Baltimore.......
........
2.276
13.070
New Orleans*.,....... 15.953
025
Newport'News
Portland, Me ..........

7,481

Total week. ...... 205.8-6)
Week 1890....... ... . 217.041

43,796

a t th e sea b oa rd p orts fo r th e
Corn.
bush.
799.500
130,378
32 1.725
795.17 1
23.350
324.197
329,<00
61.42*

Oats.
bush.
979,200
142.164
89.790
66.000
64.729
5.8 0
60,2 45

Barley,
bush.
505,050
2.425
2,940
6,400

T o t a l r e c e ip t s a t p o r t s f r o m J a n . I t o M * y 1 c o m p a r e as
f o llo w s f o r fo u r y e a r s :
1834.
Receipts o!—
1897.
1896.
1895.
5 001.505
6,220,906
Piour. ............
5.052.681
3.817,640

100.909,199

Son :

S e c u r i t i e s — B r o k e r s ’ Q u o t a t io n s .
Bid.

179.0H
93,076

* KeoetDt* do not inalude grain passing through New Orleans for foreigo
ports on through oms of fading.

Total grain

Bonds
#2,000 Ctfs. o f iudebtednf S8,
Storm King Club 1 9 0 2 .... #40H
#1,000 Jersey < itv Water
scrip 7s, 1913. M A N ........ 131%
#lv?,000 Jersey City ass’ t 5s,
1922. J A J .....................
114*3
#10.000 East River Gas Co.
1st cons. 5s, 1945 J v j . . . 101*8
#20,000 N. Y A East R iver
Gas Co. 1st 5s. 1944. JAJ.109
$2,000 B’klyn A N. Y. Ferry
Co., 1st 6s, 1911. JA J ...1 1 7
$1,000 Monmouth Boh. Coun­
try Club 58...................... 55
$ * ,0 0 0 B ’ fclyn A N . Y. Ferry
Co. edits, o f indebt., 19 11.. 108

Shares.
Shares.
2 Chemical Nat’l B a n k .... 4105 j80 Nat’l B roadw ay B ank .231
Rye,
bush.
61 Phenix Nat’ l Bank .........107*2
132 at 0 77100 Metronol. West 8ide E l­
Bonds.
24,l<0
evated RR. Co. of C hic.. 3*2 $1,000 Riding Club, N. Y., 6s
10,100
25 Kings County T raotion .. 38
1899. ...................................... 86
12,234
C it y R a i l r o a d

516.715
88.03)

'Shares.
400 Morning Star Min’g Co.,
#10 ea ch ......................... #130
230 Far well Co.. #5 each ____ #1
1 Monmouth Casino, *500. #8
5 Fifth A ve Bank
......... 2,970
10 Imp. A T raders’ Nat. Bk. 535

B y M essrs. A d r ia n H . M u lle r

1.066

.
2 ‘7,409 2,.774,052 L 454.003
418.402 2.73 V»8l 1,116,185

W heat............bush. 0,326,749
*
Corn. . ......... , * 76,647,283
“ 19.048,233
Oats..............
• 3.614.345
Barley............. . *
1.823,559
Rye..................,. “

Shares.
Pacific Bank ..........175-176*2
4etor Place B an k.22478-225
Oriental Ba> k.................. 185*2
Knickerbocker Tr. C o ... 17.5
Real Estate Trust C o _ l 00
_
Pacific Fire [ns. Co ___ 141*4
B'felyn & N Y. Ferrv ' 0..191
B’ way A 7th Are. RR.Co 200*4
Blee< knrSt.&F.F.RR.Co. 31 **
Norf lk& S outh. RR. Co. 70
Monmouth Beach Club
House Co., p ref.
..ICO
20 B ’klyn & Brighton Beach
RR. o .,p r e f ...... .......... $2
20 B’klyn < Brighton Beach
fc
$1
Rti. Co., oom ..............
10 Sebastian Wagon C o ___100
100 Telmic Mfg. Co , #10 ea..$50
5 M etropol’n Concert Co.,
Lim., #50 e a c h ............... #1
800 United Petroleum Farms
Aesoclaiion, #2 e a c h ...#25
400 Hoffman Petroleum Co ,
#10 each .......................... #3
485
100
40
2 t0
100
20
40
23
17
172
20

4.405.178
21.278.991
14 620,842
2 490,395
440.974

0,074.114
9. <m0.259
10.147.740
1.371.04 0
120,330

5 r 89,163
21 7*8.100
10,335 503
1.533.101
86 887

40.292,270

27.379.483

3 P.307,947

T h e e x p o r ts fr o m th e sev era l seaboard p o rts fo r th e w eek
• n d in g M a y 1, 1897. a re s h o w n iu t h e a n n e x e d s t a t e m e n t :
Barley,
Wheat,
Corn,
Flo ur,
oati
/iu«,
-Vu,
bbls.
'fish
Ekoportt
bush
bush
our,.
bush.
bush.
New York ..
85.053 242,258
307,050 631.5SL
91,037
4.237 206,749
Boston........... 181.J-0O 250,484
8 563
20.798 223.551
7,l*U
Portland.......
1.005
4-4.790
12,230
Philadelphia..
12.224
<*57.047
15.210 1.178.041
3 5.855
Baltimore.
41,011
33.311
New Orleans.. 15,179 413.611
1.044
75
Newp’rt News
32W O
.O 0
51.429 —
Mobile...........

Atlan. Ave., B’klyn—
Oon. 5s, g., 1931..AAO
Impt. 5 s, g., 1934..JAJ
Sleek. 8t. A F ul.F .-S tk.
1st mort., 7s, 1900. J AJ
Brooklyn Rapid Transit.
B’ way A7th Ave.—Stook.
1st mort.,5s, 1904.JAD
2d mort., 5s, 1914.JAJ
B’way 1st,5s,guar.1924
2d Ss.lnVas rent’1.1905
Oonso: 5s, 1943...JAD
Brooklyn City—8took ...
Consol. 5s, 1941...JA J
Bklyn.Crosst’ nfts. 1908
Bkl’n.Q’ nsCo.AHub.lst
Bklyn.C. AN’ wt’wn—Stk
5s, 1939 .......................
1st M., 0s. 1922...MAN
Oen.Pk. N. A E .R lv .-8tk .
Consol. 7s, 1902...JAD
Columbus A 9th Ave. 5s.
Ohrlst'p’rAlOth 8t— Stk.
1st mort.. 1898 ...A A O
1 And accrued interest.

Ask.

104
80
33
108
20 20*9
198 202
{106 108
{107 112
{115 118
{104 108
118*9 120
181 182
113
103 105
103 105
100
{110 112
195
{110
104 109
112 115
110 1101*
155 100
101 103
{103
77
30
{100

42d A dr. St. F er.-Stock
42d 8t. Man. A 8t.N. Av.
1st mort. 0s, 1910.MA8
2d mort. income 0s. J AJ
Lex.Ave.APav.Ferry 5s.
Metropolitan Traction..
Ninth Avenue—S tock...
Second Avenue—Stock.
let mort.,5s,1909.MA>
Debenture 5s, 1909.J AJ
Sixth Avenue—S tock...
Third Avenue—Stock ...
1st mort., 5s, 1937.JAJ
Twenty-Third St.—St’k.
Deb. 5s, 1903............
U nlon Ry—S to c k ..........
1st 6s, 1942 ..................
Westohest’r, lst,gu.,5s.

Ask.
165
110
103
325

325 330
40
50
{110 118
09
00
110 110*4
104 100
100 170
120 130
108 109
102 106
170 180
161*9 153
121 123**
300
100 103
103
{104*9
{»9>, 102

Glas S e c u r i t i e s — B r o k e r s ’ Q u o t a t io n s .
GAS COMPANIES.

Bid. Ask.

GA8 COMPANIES.

Total w'k... 563 195 3,414,190 173,662 507.804 124.9P8
25,030 200,719 B’klyn Union Gas—Stock. 109 110
110*9 111*9
Same time W 4'*..940 1,803.090 197,0.3 585.257 41,140
fl.
03.012
195
T h e d e s t in a t io n o f th e se e x p o r t s f o r t h e w e e k a n d s in c e Consumers' (Jersey City). 75
80
Bonds ........................... 100 102
S e p te m b e r 1, 1896, is a s b e lo w .
Jersey City A Hoboken 180
---------- FI our.-------- ,
----Wheat.------- , ----------- C urn.---------. Metropolitan —B on d s.__ 105
Exports tor
W
ee<c Since Sept.
Week Since S>.ot.
1Ve.sk Since Se.pt
Mntnal (N. Y ................... 250 254
week and since May L
t, 1390.
1. 1896.
1. 1390.
Way 1.
May 1.
N. f . A East Rlv. 1st 5s.. 109 110
Sept. 1 to—
bbls.
bbls
hush.
6urh.
bush.
bush.
Preferred ..... ......
95*9 90*9
United Kingdom 9*,032 0 116.917
409.216 30.4*6,411 1,039.779 02,415 537
59*9 00*9
Continent. ........
rt4 '.777
0.4 46
153.9:9 8.411,110 2.290.992 63672.724
Oonsol. 5s
101 102
9. *
America
? ).M
00
77-».74l
19.119
3.<>00
167,528
732.943
West indies..
24.175
C4.965
733,675
182.710
Brit. N :A. Co*’ s.
9,975
8,218
299 7f>2
B a n k in g
a n d
229
1,332 1,613.008
Other o.nntries.
181.938
839.321
Total..............., 173.002 8,026,758 503,195 39.8)4.907 3.414.190 128.861.0^2
Total 1SBM8..... 197.062 8 654,710
456.940 28.5)5,729 1.873.096 00.000.742
T h e v is ib le s u p p ly o f g r a in , c o m p r is in g t h e s t o c k s in
g r a n a r y a t t h e p r in c ip a l p o in t s o f a c c u m u la t io n a t la k e a n d
s e a b o a r d p o r ts . M a y 1, 1897. w a s as fo llo w s :
Wheat.
Barleu.
Corn
Oils
Rue
In store at
bush.
bush.
New York................ 515.000
1.140000
124.000
3.257,000
255.000
Do
afloat.
102,000
22,000
Albany
10.000
30000
Baff*!'-____ .
78.900
223 O O
O
67.000
598,000
Do
afloat.__
50.000
30.000
113,000
C H D
hlO fiT
....... . 8,084.000
7,V7r.uoo
68,000
5,000,000
1,108 0
0<
Do
afloat...
80,000
Mllwaakee ..........
12,000
iooo
3,000
495,000
Do
afloat...
Duluth ....... ... ... 0.219.000
533,000
52.000
1.471066
500,000
Do
afloat .
Toledo ............. ... 807,000
1.020,066
05,000
&.060
Do
afloat...

Bid.
D. D. K. B. A Bat'v—Stk. 153
1st, gold, 5s, 193a.JAD 114
{101
Klghtfi Avenue—Stock...

Bid.

Ask

Peoples* (Jersey C ity)...

170 175
102*9
105
Equitable......................
215 225
Bonds. 0s, 1899..........
103 105
Ht. Paul..........................
49
52
Bonds,- 5s.......................
74
70
Standard p ref----- ...
110
Common............... ...
100 101*9
Western Gas.
05
07
95
90
J ft n a n c ia i.

Spencer T rask

& C o .,

BANKERS
2 7 <k 2 9 P I N E S T R E E T ,
65 State Street, Albany.

IN V E S T M E N T

NO. 1

NASSAU

YORH.

S E C U R IT IE S .

G bo k q b Ba r c l a y M o f f a t .

M o f f a t

NEW

A

&

W

BANKERS,
s n tliK T ,
-

lexander

M. W

h i t e

-

N EW

I NVES T MENT S E C UR I T I E S .

b it f

,

jb

,
Y O H K

TH E

87 tf

CHRONICLE.

£ tie f i a u k e r s ' (g a z e tte .
D I V I D E N D S .
1
S'ame o f C om p a n y.

Per
Cent,

R a i l r o a d * ( S t e a m ).
Cbfvtnut Hill (quar ) . . . .
Chlr*. A AHon oom atuipref I
ClpT. « Plushu'it enar. (q u ar.)...j
ManehtMer < Law, e n e e ...
fe
NudjUa tfe L o w e l l ....... .. .
;
Pem ,»jrlv»m ».
..........
pints, Germ * Norristown (<iu >;i
wtiadom oD a w eidou........
S tr e e t l U l l i v a j 'n .
West U iicaco (qoar.)..........
til» c * i» in t « » o u »
!
American t'otion Oil p r e f..
B rooklyn Union G a s .........
i
CIi Kmco Gas
...................
1
Columbus lO ) Gas..............
Erie T eles * W fep (qnar.)
Leliiah < oal & N avigation.
i
Standard Oil i q o a r .) ..........
1
Do
do ( x i r a )...........

ITTien
Payable, j

Hon h i d oted .

1%
1%
1%
5
4%
2%
3
3%

1
rune
fane
1
June
1 May
1
May
May
1
May 31
1
June
May 12 May

1%

May

3
3
i%
3
1
t
3
7

Juno
Jane
May
[May
May
May
,
)
June
S

United States Bonds.—Siles o f Government bonds at the
Board include $63,000 4s, coup., 1925, at 122W to 122%; $26,000 4s, reg., 1925, at 123% to 122J£ ; $50,000 4s, coup., 1907,
— t o -------^
11 10 June 1 at 112 to 112%; $51,500 4s, reg., 1907, it llO 1 to 111. and
_
t0
-------------$25,000 5s, coup , at 113 to 113%. Following are closing
quotations :
— l o ----------— to ----------4 t » May 12

151

to

IB to June 1
1
11 to M ay 19
1
25
to
—
20 May 11 to May 21
9 to Jane 8
17
27
- to ----------15
— to — -------

W I L L S T R E E T . F R I D A V . M A Y 7 . I S 9 7 - 5 C. M .

C apital.............
B u r p lu s ...........

Loaus A rtlno’nts.
C ircu la tion ........
Net deposits___
Spools..... ............
l i k a l tenders_
_
R eserve held___
Legal reserv e ...,
surplus reserve

59,772,700
73,953,800
505,831,700
15,002,200
576.863,900
87,329 800
105,803,800
193,133,600
144,215,975

D iffe r e n t f r ’m
f r e e , week.

1896

May 2.

61.122.700
72.833.300
In o . 984.500 470,663,500
Deo, 370.100 14.370.700
I n o .2, 079.100 495,004,100
In o. 256,700 58,324,000
Dec.
77,200 87.371.300
In c, 179.500 146,695,300
In o . 519,775 i123,751,025

48,917,625 Deo

340,275' 22,944,275

1895
M ay 4.

*
62,622,700
71,046,800
484,912 400
13.197.900
5 2 6 ,9 9 8 1 0 0
69,7 8,200
89.254.900
158,983,100
131.749,525
27,233.575

Foreign Exchange.—The foreign exchange market has
been dull and easy on a limited demand. The offerings have
been in fair supply, and rates, which had eased off a fraotion,
were firmer on Thursday, closing steady.
To-day’aaotual rates o f exchange were as follows: Bankers,
sixty days’ sterling, 4 80@4 86)4 i demand, 4 87W@4 87V ;
cables, 4 87$£@4 87%.
^
Posted rates of leading bankers follow :
M ay 7.

Sixty Dayt.

The following were the rates of domestlo exohange on New
York at the under-mentioned cities to-day: Savannah, buying
1-10 disoount, selling par ,- Charleston, buying par, sailing %
premium ; New Orleans, hank, SI 50 premium ; oommeroia ,
25c. premium; Chicago, 55c.@80o. per $1,000 premium; St.
Louis, 70c,@90o. per *1,000 premium.

— t o ----------

The Money Market and Financial Situation—So far as
there has been any change daring the week in the conditions
which affect current business in Wall Street it is generally of
a favorable character. The fact that progress has been ma ie
with the tariff bill gives almost universal satisfaction, how­
ever rnuoh diversity of opinion there may be as to par­
ticular features of the bill itself. Business at the Stock Ex­
change responded to this sentiment with an increase in vol­
ume and an advance in prices when the bill was reported to
the Senate on Tuesday.
Gold shipments, which were a feature of last week, are
this week limited to 81,500,000 which went out on Tues­
day and §1,000,000 which has been engaged for shipment
to-morrow, a total of §3,500,000. The war in Europe, which
lias been gradually dinoini-hing in its disturbing effect, is
apparently drawing to a close, and is no longer a factor of
importance in the business situation.
Notwithstanding these favorable influences there is almost
no change to note in the financial situation and business
in all departments remains exceedingly dull. The reduction
o f the rate of dividend from that which has prevailed for
many years made by the directors o f the Chicago & Alton
Railroad and the announcement that no dividend may be
expected this season on Sr. Paul & Omaha common stock
show how railroad interests in the West are affected by the
present conditions.
The open market rates for oall loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from
to 2 per oent. To-day’s rates on call were 1)4 to 1%
per oent. Prime commercial paper is quoted at 3)4 to 4)4 per
oent.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £340,198 and the percent­
age of reserve to liabilities was 51-60, against 51-91 last
week : the discount rate remains unchanged at 2)4 per cent.
The Bank of France shows an increase o f 7,375,U francs
00
in gold and 1,500,000 francs in silver.
The New York City Clearing-House banks in their statement
of May 1 showed an increase in the reserve held of $179,500
and a surplus over the required reserve o f $48,917,635, against
$49,257,900 the previous week.
1897.
M ay 1,

[VOL. L X IV .

Demand.

Prime hankers’ sterling bills o n L on d on ..
■ 87
4
4 88®4 88)2
Prime oommerelal........................................ 4 85%®4 85%
Docum entary oommerolaL......................... 4 84%©4 85
Paris bankers’ (francs)................................ 5 1613,a® 16% 51413,«® 5 15
Amsterdam (guilders) b a n k e rs...............
40 >89403,«
406,e® 40%
F ran kfort or Bremen (relohmarksi b ’kera 95% «® 06%
9 6 ° s » 9 5 )),s

M ay
1

May
3.

May
6

May
7.

..............reg.
1 9 0 7 ..............reg.
1 9 0 7 ..— .-oon p.
1925........ .reg.
1 9 2 5 .......... ooup.
1 9 0 4 ..............reg.
1 9 0 4 ........... ooup.

96
x )6
' 96 * 9 «
' 96 * 96
111
110% 110% 110% 110% 111
112% 1 1 '% >112 *112
112
11 2%
1226s 1228. 122% *1 2 !% 122 % 122%
xl22% 122%, 122% 12 *% ■122% '1 2 2 %
' 1 1*2”8 *112% '112% * 1 1 2 7a '112% *112%
*x I 2% *112% 113 *11278 11 *% ‘ 112%
*10418 *104%) '104% *104)8 -101)8 *104%
onr’oy,’98...reg,
*1071.1 *10', % >107% *107% -107)4 *107%
o n r’oy,’ 9 9 ...r e g ,
*100 6a *100% •100% *100% -100% *101
(C her.)1898.reg.
*100% M/Q.% *10(1% *100% >100% *101
(C her.)1899.reg,
* T his is the price oid at tae m orning uoara. no sate was cnaUo.

United States Sub-Treasury ,—The following table show a
the daily receipts and payments at the Sub-Treasury:
Date.

Receipts,

Payments.

May. 1
3
"
4
“
5
"
6
"
7

$
1,776.475
2,242,537
2,454,699
3,2 90,2 -1
2,962,469
4,558,553

$
2,928,293
3,398,063
3,3 43,4 9)
3,725,244
2,8 '8,834
4,619,572

Total

17,285,014

20,893,505'

Dataiices.
Coin.
8
128,169,651
126,587.364
126,518,323
1 2 6 ,3 9 /,6 !0
123,754.823
126,664,843

Coin Oert’sA Currency.
*
i
1,439,676
1,713,298
1,822,2 2
1,753,089
1,981,725
1,823,072

»
69,365,81264.518,951
68,590,279
6 “ ,345,142
67,842,92968,030,643

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

Coins.—Following are the current quotations in gold tot
coins:
Sovereigns........... $ 4 87 * $ 4 90
[ Pine silver b a rs... — 60% ft— 61%
Napoleons ............ 3 86 ft 3 89 I P lve fra n cs............— 93 ft — 95%
X X RelobmarliB. 4 79
25 P esetas............ 4 77
Span. D oubloons.15 55
M ex. D oubloons. 15 50
Pine gold b a r s ...
par

-a 4 84 I M exican d olla rs.. — 47% © — 49
ft 4 81
Peruvian sols____— 42% © — 45
® 15 75 I English s ilv e r .... 4 86 » 4 90
® 15 75
TJ. 8. trade dollars — 6 5 © — 75
0 % prem . |

State and R ailroad Bonds.—Sales o f State bonds at the
Bxard include $ l6,UiO Tennessee settlement 3s at 80 to 81}^,.
$5,1> Virginia deferred trust receipts, stamped, at 5, and
00
$1,000 Virginia fund, d, bt 2-3s of 1991 at 65.
The market for railway bonds has improved in tone, not­
withstanding some weak features, and the volume of busi­
ness, although still not large, has increased to some extentinvestors seem not to be eager to buy bonds under present
conditions, and holders are generally o f the opinion that it
is not a good time to sell. Of the special features Fort
W orth & Denver City bonds have advanced 1% per cent on
very|!imited offerings. Chicago & Northern Pacifies have
b en in request on the announcement o f the new plan and
moved up 1 point. Fractional advances in the active list
are common. Wabash and Missouri Pacific issues have been
the weakest features of the market, and declined for lack
of support, in sympathy with other so-called Gould st-curities.
There is nothing new affecting these properti s which isknown to the public . The active list includes, in addition to
the above-mentioned issues, Atchison, Chesapeake & Ohio,
Burlington & Quincy. Rock Island, Chicngo & North W rstern, Erie, Milwaukee < St. Paul. Missouri Kansas & Texas,.
fc
New York Central, Northern Pacific, Oregon Short Line,
Reading, Rio Grinds Western, St. Louis Southwestern,
Texas & Pacific and West Shore bonds.
Railroad and Miscellaneous Stocks.—The stock market
has been somewhat more active this week than of late but
irregular in movement, and the trading almost wholly pro­
fessional in character. Many leading stocks have made a
sn> stantial advanoe In prices, while a few have d. olined.
Lrke Shore was a prominent feature o f the railroad list and
advanced 3 points on limited transactions. The coal stocks
hive recovered a part of the loss recently noted, Central o f
New Jersey leading -with a gain o f
points. The grangers
have in most cas> s beta strong and, with New York Central,
Cleveland Cincinnati Chicago & St. Louis and Northern.
Pacifio preferred, advanced a point or more. St. Paul &
Omaha declined 2 points on reports that no dividend
would be declared m June. Missouri Pacific has been
especially weak, selling at 10 on Thursday, a decline of 5
points wi hin a week, and the lowest price ever recorded for
it. Manhattan Elevated lost 2)4 points but partially re­
covered. Metropolitan Traction has fluctuated over a range
of 4 points, closing all 105.
Speculation has been active in the miscellaneous list.
American Sugar was ihe leader and advanced 4 points on
announcement of th revised sugar schedules m the tariff
fe
bill reported to the Senate It has fluctuated between 113)4
and 118, closing at li f e . Chicago Gas advanced 2)4 points
on an active demand for the stock. United States Leatherpreferred and Pacific Mail have been strong.
Western
union was weak in sympathy with other Gould stocks and
made its lowest reoord of the year on Thursday, when it sold
at 75%. It clcses at 10%.

THE CHRONICLE.

H a y 8, 1897.]
NEW YORK STOCK EXCHANGE—

STOCKS fo r week ending M AY 7 , and since JAN. 1, 189T.

H IG H E ST AN D LOWEST PRICES.
Saturday,
May 1.

M onday,
M ay 3.

Tuesday,
M ay 4.

W ednesday,
M ay 5.

877

Thursday,
M ay 6.

Friday,
M ay 7.

STOCKS.

Sales of
Range fo r year 1897.
the
On basis o f lo o s h a r t lots. ]
Week,
Shares.
H ig h est
L o w e st

A c t iv e It I t . S to c k s .
2,295
§10% 103a A tchison Topeka & Santa Fe.
9% A pr. 19 12% Mar. 3
7,865 17 Apr. 19 25% Jam 30
19
Do
p rel.
19% .
•
% A tlantio & P a o iflo .............
% A pr. 7
% Jam 14
700 11% Apr. 29 18 Jam 8
*11% 12% Baltimore & Ohio...............
l l 7s
*20
21 Brooklyn Rapid T ransit...
117 18% Jan. 7 21% Feb. 11
*20
*20
‘ 52% 53% Canadian Paeilio...............
100 46% Mar. 29 56 J am 8
*52%
*51%
280 44% Jan. 13 5 1 7s Mar. 17
*46% 47 Canada Southern...............
*46
*46
13,725 76% A pr. 5 103% Jam 19
78% 79% Central o f New Jersey __ __
77%
77%
*7
8 Central Paoiflo....................
*7%
7% Apr. 20 15 Jam 5
*7%
1,560 15=e Mar. 29 18% Mar. 15
§16% 16% C hesapeake* O hio___ . . . .
16%
16%
239 5151 M ay 7 5170 Mar. 1
§151 155 Chicago & A lt o n ......................
*165%
*165%
73% 74% Chicago Burlington & Quinoy 54,876 69=8 Jam 5 78% Mar. 18
72
72%
*40
50 Chioago * Eastern I llin o is ...
*40
45 Mar. 13 45 Mar. 13
*40
*95
Do
pref
8 595 Jan. 8 598% Feb. 3
98
§98%
*95
73% 73% Chicago M ilwaukee & St. Paul 53,120 69% Apr. 19 78% Mar. 15
71%
71%
Do
pref
131 131
958 130% M ay 6 138% Mar. 18
§131%
§131%
103% 104 Chioago & N orthw estern___
4,150 101% Apr. 19 110% Mar. 17
1023*
103%
100 153 Jan. 12 155 Feb. 20
_
Do
pref
*150
63%
8,623 60% Apr. 19 70 Jan. 16
6278 63% Chicago R ock Island & Pacific
61%
62
58%
57%'
58=8 57% Chioago St. Paul Minn. & Oni. 37,985 47 Jan. 2 64% Mar. 17
57=s
138 *138 145 _
1 133% Jan. 18 143 Mar. 29
'139
Do
p ref.
*139
1,915 26% Feb. 16 33=8 Mar. 17
29
28% 29 Cleve^Cinelm C hiu A St. L ...
27%
27%
SO
132 73 Jan. 4 80 M ay 6
2
640
2 Colum husH ookingV aL IjT ol
*13$
2
1 % A pr. 30 18 Jam 8
*1%
*1%
Do
pref.
40 Jan. 21 46 Jam 21
12,555 99=8 Apr.
105% 106% §105=8 106
104% 104 V 104% 1 0 i7« 105 107
o
105% 107
121% Jam 6
148 148% 148 *4 148%
3,090 147% A pr. 30 157% Jam 18
148% 148% 148 118=8 140% 1187, $149 149
*8%
9%
'9% 10%
*9
10
•9% 10
9% Apr. 20 12% Jan. 19
9%
•878
Do
*37
37% *37=s 38% ‘ 36% 37% *36% 37% *36% 37%
pref.
36 A pr. 20 43% Feb. 1
12
12
1,150 11% Anr. 19 15% Jam 18
12% *12
12% 12%
*12
1 4=8 12=8 12%
11=8 11%
Do
29% $27% 27%
•28
14 27 A pr. 19 35% Jan. 18
*28% 29% *28% 29%
1st pref.
Do
18
19
19
*17
18
*17
18 Mar. 29 21 Jam 15
2d pref.
*23
27
*23
*23
27
*23
*23
27
27
27
524% Feb. 13 §24% Feb. 13
*23
27
L2l *118 121 *118
121 *118 123 *118
122
L22 *118
120 Jan. 16 122 Feb. 5
*118
92
92
214 91% Apr. 19 9«% Mar. 16
*92% 94
93
*92
*9<£% 94
94
93
*92*2 94
*5%
6
100
6
•5%
6
6%
*5%
*5%
6
6 Apr. 15
*5
6
8 Jam 16
6%
Do
‘ 20
25
*20
*20
*20
*20
*20
25
25
25
25
24% Mar. 18 27% Jam 20
25
pref
BErie
14
14% 14%
§13% 13% *13
*13
375 13% Apr. 12 18% Jan. 18
15
14
14
14
*13
Do
*61
61
*62% 64% *62
*62
65
*61
10 58% Apr. 1 70% Jam 26
*62% 65
61
65
pref
1,404 152 Jan. 2 172 Mar. 1
L62
162 162% 162 104 *162 165%
160i« 160% 160% 160% 162
f 42
ig Island...................
48
*42
*42
18 41 Apr. 2 55 Jam 8
17,872 40% Apr. 19 52% Jam 19
43% 44%
us ville * Nashville.
43=8 44 39 41% 444,
43
43=s 43=8 4 1% 44% 44%
814, 82%
32,002 31% May 6 93 Mar. 2
814, 82%
83%
684% 84%
83% 8430 82% 8 3 7e 82
1017a 1017a P93a 101 •100%
104% 105
2,742 99=8 M ay 3 110% Jan. 5
104% 105
*101%
;
250 90 Jan. 28 100 Mar. 15
95% 95%
95%
18
17
*17
§16% 164,
205 17 Mar. 26 19% Jam 29
17% 17%
17
18% *17 " 18
*16=8
Do
76
80 77% Mar. 18 79% Jan. 18
*75
*75
76=8 §75% 75% *75% 76% §76
78 ^ §76
76%
1st pref.
Do
*44
46
*44
*45
•44
*44
*451$ 47
47
46
46
46
46 Fel). 26 48% Mar. 18
2d pref.
10% 10%
10% 10% *10
10%
10% 104,
320 10 Apr. 19 14% Jan. 18
§11
11
*10% 11
Do
2,745 24% A p r. 19 32% Mar. 18
27%
27% 2730 27% 27=8 27% 27%
27
27
27
27
pref.
27=8
10
12
24,550 10 Mav 6 24% Jam 18
13% 14%
12% 14
13
*14% 15%
n % 12%
20
20
•16
13 20 Mar. 26 22% Jan. 12
20
§17% 17% *16
*17
20
*17% 20% ‘ 18
1
570 Jam 25 §70 Jam 25
s
•
37" :
37 *
37 s
37 •
37 •
37 *
544 Mar. 18 §44 Mar. 18
99 100% 99 % 100%
99% 99=8 9 8 7s 99%
9,580 92% Feb. 18 102 Mar. 22
98% 93%
98=s 99
*11
*11
13
*11
*11
13
*11% 13
13
13
* n % 13
11 Fel). 11 14% Mar. 15
*65
Do
*65
75
*65
*65
75
*68
*65
75
75
75
75
67=s A pr. 15 75 Mar. 17—
1st pref.
Do
27% 27=h *27
29
*25
2S
27
*25
27% 27%
1,400 24 Fel). 10 3 4 7e Mar. 17
27
29
2d pref.
170
170 $168% 168 %
L70 *168
312 160 Feb. 2 5178 Jan. 4
169% 169% *168
L71 *168
171
>n<fe H a rt
13% 7 8% *13% 13%
§13% 13% *13% 13=e 13% 13%
13% 13%
1,605 12% Apr. 19 15=s Jam 18
*7%
*7%
74,
9% Jan. 18
7%
7%
§7%
•7%
40
*7%
7%
7%
*7%
74,
7 Apr. 1
Do
*21
21
21%
21% 21% *21
23
•20% 21%
22
*21
400 20 Apr. 13 26% Jan. 18
22
pref.
folk A
‘ 9% 10%
*9
■9% 10%
10%
*9
10
94,
*84,
9 Apr. 19 14% Mar. 11
*8% 10
Do
*......... 22% * ......... 22% §22
22
22% 22% §22
22
*21% 23%
199 22% May 5 28% Mar. 4
p ref
12
12
*11% 12%
12
12%
2,682 11 A pr. 19 16=s Feb. 1
*11
12% §12% 12%
12% 127e
. voting tr.ctfs.
34%
Do
35%
34=8 3.) =
34
34%
35
8 35=8 36%
35%
34% 35
pref. 15,887 32% Jan. 5 38% Feb. 24
*10
•10
*10
20
•10
20
20
20
20 ; •10
•10
20
510 A pr. 20 §17% Jam 18
wy. c ciB v.C o.vohtr.ctfs.
k
*42
*41% 43
*41% 43
§41
41
43% *42
§41
41
" ' s i 37% Jan. S 45% Feb. 3
Do pref., v o t tru stotfs.
43%
11% Mar. 29 14 Jam 21
* l l 7S 12% U l 70 12% * n % 12% *11 78 124, *1178 124, * n 7s 124,
Do
50
47
'4 4
*47
*47
50
50
48% *44
47 | *46
48%
250 47 May 4 50 F e t. 1
pref.
17% 18
17=8 18
18% 1HS,
18
19,212 116% A pr. 19 19% Apr. 21
18=8 184,
187s 18% 19
40
40% 40%
40% 40% 40% 40% 1st p ref., v otin g tr. certifs.
39% 3 9 7s 39% 394,
40%
5,545 138% A pr. 19 42% A pr. 8
24% 21%
§23% 23s, *23% 24%
24% 24% •23% 24%
707 122% A pr. 19 2 5 7s Apr. 9
24% 24% 2d pref., votin g tr. certifs.
50
*117 118 •117 118 §118% 118% *117 118% *117 118% *117 118%
5110 Mar. 8 §119 Jan. 18
*60
64
*58
64
64
*57
*50
61
64
*60
*53
64
'4
-4
463
430
4% £
200
5 7s Feb
4
4%
4 A p r. 19
43?
4%
Do
38
38
38% 38% *37% 38%
300 37 Jan. 29 40% Mar. 4
38% 38%
1st pref.
Do
13
13
13% *12% 13%
13
200 12 Apr. 15 16 Feb. 3
13
2d pref.
*2%
4
4
4% Jam 18
*2%
*2%
*2*
*2%
*2%
3% 6
1 Apr. 1
3*
3%
3%
Do
*6%
*6
*6%
*6%
7%
3% Apr. 1 11% Jam 18
100
7%
6%
7%. *6%
7%
7%
pref.
0% 0
'aal S
23
*18
23
*18
*18
*18
23
23
*18
*18
23 6
20 Jam 4 22% Jam 18
23
•
87
*65
67 *
87
87 •
87
87
Do
75 Apr. 20 §87 Feb. 8
pref.
113% 117 *113% 117 *114 118 1
*113% 117 *113% 117 •113% 117 e
114 Jam 28 118 Mar. 3
143a 148* 14% 15%
14% 14%
15% 15=8 15% 15% 8
15% 154,
2,055 13% Jam 13 15% Jan. 18
*7%
8
•7%
7%
74,
422
7%
7 Apr. 19 10 Jan. 16
7%
74,
74,
•7%
7%
7%
25% 25% 25% 26
4,304 2 2 7a A pr 19 297gJan . 19
257s 26*4 26
26% 25% 26% §26% 26=8 Do pref., voting tru st oert.
8%
§8%
8%
9 l
8%
8%
'8%
•8%
8%
8%
§84,
8 Apr. 1 10% Jam 18
970
84, 1
5%
5%
4% A pr. 19 10 Jan. 5
5%
5%
5=8 » =8 *5%
54,
5=8
5%
54,
2,355
5%
2% Jan, 6
*1
1=»
*1
1 Apr. 24
*1
*1
1=8
*1
1% ! *1
1%
1%
1% 1
5%
7% Jan. 16
*4=0
5%
§5
4=s Mar. 29
100
5%
5
5 I
*47e
§4=8
4=8
•4%
*478
*12% 127s 12=8 12%
12% 12=8 12=8 12% H 78 12%
Do
2,375 11% A pr. 19 17% Jan. 18
pref.
12% 12%
ellng
•4,
6% Jam 2
% Apr. 23
255
*%
4.
*4,
7S
%
§1
1 1
7B
7e
*2%
Do
*2%
•2%
•2%
3%
3%
*2%
2=s Apr. 15 89 Jan. 5
2 70
100
pref.
3%
3%
3%
2 7s[
1% Mar. 31
8% J in . 6
tibo. uBH-oo., votin g tr. etfs
*1
*1
*1
•1
*1
*1
1%
1%
1%
Is
1%
1H|* [m is c e lla n e o u s H t o c k s .
'9 H 10
1,670 10 A pr. 28 14% Jan. 16
10% A m erican Cotton Oil C o........
10
11% *101* 11%
*0
10
111* 11H
57% 88 H §58=8 58% §58
•86
ft7% *86
57%
529 52% Feb. 16 58 % M ay 4
58%
Do
pref.
88
11% A m erican Spirits M fg. C o___
10
10%
10** 101* 10H 10i*
9% Apr. 23 14% Jan
9
8,720
10% 10% 10% 11%
11
27% 28
28
4,340 26 Jan. 5 3 4 7s Mar. 15 .
30%
-.8
2-1% 29
Do
pref.
28H 27 H 27% 27%l 28
113>* 114
118=8 Mar. 3
113% 114% 114% 118
1 1 5 = sll7 % 115% 116%! 115% 116% Amerloan Sugar Refining Co. 157,742 109% Mar. 29
1089* 103-la 103% 1034, 104 ' 104
1.806 100% Jan. 7 105% Mar. 15
103% 104% 103% 103% 5103% 104%
Do
pref.
60% 69%
70
70%! 09% 70
67% 60%
68
69%
69% 71% Amerloan T obaooo C o............ 30,354 67% Feb. 15 79% Jan. 14
Do
pref.
*102 . . . . ♦104 104% *101 ___
'102
269 100 Feb. 11 108 Mar. 12
'101
•103
8 7a 9
1,450
7% Apr. 17 13% Jan. 6
9
9
0% 9%
•9
9% Bay State Gas ..........................
9%
9%
9
9
82% 83% 82% 84
80% 81i«
80% 81i*i
80% 82%
83
84 Chicago Gas Co., oerts. o f dep. 97,031 73% Jam 5 84=s A pr. 18
160 160
159% 101% 161% 163
3,551 136% Jan. 2 164 M ay 7
162 162% 161% 162% 163 164 Consolidated Gas C om pany..
31
31
1,427 30 A pr. 19 36% Feb. 2
31
31%! 31 % 31%
31% 31% *31
31% General E lectric C o ................
31=8 *31
*22*4 23i« 22% 22%
23% 23%
2,255 2 1 7s Feb. 16 26=s Jan. 19
23% 24% §23% 23% ♦23% 24 National Lead C o....................
91% 91% 91% *91% 92
91% 590
1,085 88=s Feb. 13 92 Feb. 23
BOH 90** *90
Do
pref
591% 92
*34,
A
■3%
200
5 Jan. 18
4
*3% 3%
3%
3%
3=8 Apr. 20
*3%
4
*3%
4 North Amerloan O o.................
26 H 26 \
26% 27
7,932 24 Jan. 9 28 M ay 6
27% 27% Paoiflo M all..............................
28% 27% 27% 27% 27% 28
*86%
*85 . . . .
*85
*85 ......... Pipe Line Certificates..............
187 H 187>*
365 152 Jan. 2 163 Mar. 3
157% 157% 157% 157% Pullman Palace Oar Company
186% 158
157 188
62 Mar. 29 65% Jan. 37
*61
68%
61% *00% 61 Silver Bullion Certtfloatea___
61% '61
7 ~ 7%
6% Mar. 29 11% Jan. 19
1,947
0=8
6=8
7%
7=s 7% Standard R ope * T w in e.........
7%
197,
20% 207e Tennessee Coal Iron < R R ... 20,255 18% May 3 31 Jan. 18
to
18=8 20%
19% 20%
19
19% 20%
10O
§6
6
*6%
7
•6%
7 lUnlted States Leather Oo.......
6% Apr. 19
*6%
7
9=s Jan. 19
56%
6%
7,525 50 A pr. 22 64 Jan. 19
53% 5 4
52% 52%
53
58 h 52% 53%
53=8 63%'
Do
pref
*13% 14%
13
14 iHnlted States Rubber Oo.......
110 13 Mar. 29 25% Jam 19
*13% 15
13=8 134. *13
15
•M
66
110 61 Mar. 29 7 6 7s Jan. 5
0ft
63
65 |
Do
pref.
m % 62% *03
♦65
65
764, 78
75% 77% W estern Union T elevraph ... 86.936 75=g M ay 7 86% Mar. 17
78% 7 7 ?
76% 77%
* 75% 76%
10%
18%

10%
18%
%
12
21
53
46%
77%
8%
16%
170
72=s
50
93
72%
13D «
1031$
155
62
58%
145
277s

10%
19

10% 104=
10=8 10%
10%
18%
187s 19%
19% 19%
%
%
12
1 2 1 12
11% 12
11%
20%
20%
20% §1978 19 7s *20
54% 54% *53
54% *52%
53%
47
46% 47% *47
47
47%
78%
78
80
78% 79=8 78%
*7
*7
8
H
8%
7%
16% 16=8 16=8
16%
16% 16%
170 *165% 170 ‘ 166 170 §158
73%
73% 74
7 i 7s 7 2 7e 74%
*40
50
*40
50
*40
50
*95
*93
98% *95
98
98
7230
72%
72% 73=s 72% 73%
131% 131% 131% 131% 131% 130%
103% 104 104% 103% 104% 103%
153 153
61%
62% 63
62%
62=8 63
57
58% 59%
58% 59%
58%
*139 145 *139 145 §138
145
284,
27%
28
287a 28% 29
80
*1%
2%
*1=8
2%
1%
1%
10=8
19%

10%
19%
%
n%
20%
53%
47
80
8
16%
165
74%
50
98
73%
130%
104%

*These are bid and asked: no sals m
ade. 5 Lemthan 100 shares, t Range dates from listing on E tohange, A pril 8.

TH E

Sf t i
NS

CHRONICLE,

[VOL, L X IV .

,v v .js tK s r i f U S S X C I l V V t i B P R I C E S (C ant-tnue d )— LVAGrrVE

l*A0IJV» 3TOOK.*.
} Sndtent** n u lls ted .

S o ton % S . Y . A ir U n e p ro f .*109
B u ffa lo mm&mx&t M m tfesoorg.IO O
p tr f erred ,« » » .• * • • » « » -......* .1 0 0
B url « ! « ■ R a p id s A Nor*. . . . . 1 0 0
C lient W t«r a * ..» * .* .«. ..
C iev. w i ^ i a W heel. p r e f .- .- .i O O
CSeve *&4 A PlfcUrtm rg.. . . . . . . . 50
|>M d o to** A F o i B o d g e .- . . - . 1 0 0

6
8

.............-.100

B ullish *o. S h ore 4s A t la n t ic 15.100
P reL sffed f , . . . . . . . . . . . . . . - .. .,* . 1 0 0 '
K M tieVule A T erre H . p r o f ........50
M a | A Pews ■ »rq u n ite ,. . . . . .
H
i n f e r r e d . ,**»**..»•*
• *®ga B a y A V a l e r a . .. . * . - - - 1 0 0
D ob. eertle. A ...................... ..100U
D eb . f rtf*. B ........... ............iC O O
K tfitw liM A 'l i o t l ir f t t u ........ ••l o t
K eoku k A D ee M o in e s ........ --.1 0 0
B ie f ‘ rre*1........... .
........-1 0 0
K eok u k % W estern . . . . . . - . . — 100
L o u Ni w A <» Ohio . . . . . . . -S
P r e fe r r e d ...........................
-1 0 0
M e x ica n C e n t r a l . . * . 1 0 0
M e i eai! N ation a l t r . o t f a . . . . . . l G 0

100
.— **.100
—

Morris A E

#

«

e

x

H a y 7.

,

B id,

R a n g e (sa te s) in 1 89 7 .

A sk .

L ow est.

70

. 50

K . V. A H arlem . . . . . . — .* . . . 50
N. V. *•>*••«. * e W e e te r n . . . . . . . . . 1 0 ©
S
Or. fftiX tn e 4s O.N.wbcm is s u e d . 100
P*0Ki* iUHHitur A E v a n s v ille U>0
P e o r i a k E a s te r n ------ -**.1 0 0
P itts. Ft. W. k Chid, g u a r......... 100
R e n ssela er < S a r a t o g a .—
fe
-.ou
R io Grande W estern p r o f . . . . . . 100
T o le d o k O hio C e n t r a l...... . . 100
P re fe r re d .......
.- * 1 0 0

So price Friday

(X Fiutioaitui .m
scual sales, j

m ts c c lla u e o n s S t o c k ,,
A d a m s E x p r e s s ............................ ICO 1151
152
117% Feb.
A m e rica n B a n k N o te Oo U ___
•12% 44*s
A m e r ic a n C o a l . . . ........ ..
25 110
115
113
A pr.
. 100 Jl 13
A m e r ic a n E x p r e s s ...............
109*3 3 an.
A rner. T e le g ra p h k C a b le . . . . 100
87
88
85% Jan,
B r o o k ly n U n io n 0 a a , . . . . . . . . . . . 10O !1 0 8 % i109«s 85 Jan
B r u n s w ic k C o m p a n y ................. 100
Jan .
■
a
Ohio. J u n o . R y . & S to ck Y a r d s .100
103
Feb.
C o lo ra d o C o a l & I r o n D e v e l .. 100
h Jan .
%
C o lo r a d o F u el <fc I r o n ............... 100
15% 17
16% A pr,
P r e f e r r e d ...................................
75
Feb.
87
L'ol. & H o o k . < V ia ltr.rots.a llp d .1 0 0
3%
4
3% Mar.
C om m ercia l C a b l e . . - . ................ .1 0 0 156
C on sol. C oal o f M a ry la n d ........ .1 0 0
36
35
F eb .
___
D e tro it G a s .................................... 100
20 J an .
E d is o n E lse . 111. o f N . V ______ .1 0 0 107 k 109
101% Jan .
E d ison E lec. 111. o f B r o o k ly n . 100 1102 a„
87
FebE rie T oluirraph * T e le p h o n e . 100
62% 63% 6 3 % A pr.
Illin o is S te e l................... .............. 100 131% 35
2 9% A p r.
In te rio r C o n d u it & Tnn........... . 100
Jell, & C lea rf. 0 . & 1. p r e f ........ .1 0 0
35
L a c le d e G a s ................................. - .100
22
23
22
M ay
P r e fe r r e d .....................................
72
% Star.
76
M a ry la n d C o a l, p r e f ................... -IOC
40
60
_____
M iohiR au-P eninaular O ar C o .. 1 o c
12 Jan .
P r e fe r r e d .....................................
50
Jan .
.
J42 «*
M in n e so ta I r o n ............................. ■IOC
38
A p r.
N a tio n a l L in s e e d O il C o ............ IOC
121* 12 M ar.
10
N a tio n a l S ta roh M fg . C o ........... .IOC
2
3%
3
M ay
N e w C e n tra l C o a l........................ .1 0 0
4
5 Jan .
6
O n ta rio S ilv e r M i n i n g . . . . . .1 0 0
8% A pr.
8% 10
P e n n s y lv a n ia C o a l...................... . 5C 325
3 4 0 M ar,
Q u ic k silv e r M in in g .....................
1%
2%
1% Apr.
P r e fe r r e d ..................................... ,10C
10
8
Apr.
( S ta n d a rd G a s, p r e f. t l ............. IOC 116
102 J an
]{T enn essee C oal & Iro n , p r e f .. IOC
63
A p r.
y l e x . s P s o lfio L a n d T r u s t ........ .1 0 0
6 A p r.
37
Feb.
||U. 8. E x p r e s s ................................ IOC
38 f 4 2
" W e lls , Farc*o E x p r e a p ___
97 Jani o o 101 '1 0 3

»11 r o a ti s s o c k a,
A lb a n y A ^ i i a ^ ' - i c i j a u o a . 1
A bv. .................................................. }

0

STOCKS,

Xn a o x it b S t o c k s .
K r util antes urUiated.

latest price this week.

Hi Oh. ft.
155

Jan.

125
Jar.
113
M ar.
91 *4 J an .
109*18 M ay
% Jan .
101$% A pr.
1 J an ,
27
Jan .
75
Feb,
4% Star.
3 7%
2 ft
H 7%
103
67
■12

J an .
Jan.
A pr.
M ar,
J an .
Jan

___
J au.
Ma%
....
12
Jan .
52
F eb.
52
F eb
15
Jan.
5 Jan .
5 Jan .
10^4 Jan .
340
M ar.
% Jan.
% J an .
108
F eb.
7 0 J an .
6
Apr
41
A p r.
103
A p r.
25
78

1
11

t Actual Bales

NEW YORK STOCK EXCHANGE PRICES.—STA T E BONDS M A Y 7.

A labam a—Class A, 4 to 5 .---1 9 0 6
Class B, 1 * ...........................1 9 0 6
Cl&MC, 4».........................-..1 9 0 6
Currency funding 4a— . . . . 1920
Arkaaau-a—6s,fund,H ol.l899-1900

Ask.

107
107
101
100

New m m aiit 4 a .. . . . . . . . , * ... 1914
N ew

Y o rk C ity B un k

95%

S ta te m e n t

fo r

th e

w eek

e n d in g

(00* om itted.)

Capital Surpl't

Loans, j Specie. Legals. Deposits.

Bank o f New Y ork. $2,000,0 $1,894,3 $12,210,0 $2,120,0
Manhattan Do
2.050.0 2.103.1 13,978,0 2,658,0
2,000,0 1,010,5 12,035,8] 2,219,7
M erchants’ *.—...... .
8.832.0 1,162,0
2,000,0 2.059.2
M echanics*........ .
1.500.0 2.479.3 18,106,9! 2,917,4
A m e r ic a ................. 3.981.0
291,0
359.1
1,000,0
F hen ix...— ..........
1,000,0 3.608,7 28.060,2 7,047,1
C i i r . .........................
2.459.5
21" "
Tradesm en's............
750,0
30d;6| 7,339,0 24,201,4 4,32
Ohetnloal..................
90
M erchants' E xch’ ge
600,0] 169,8 4.520.5
5,890,4
86
©allatin ..................- 1,000.0 1.689.7
Batcher** k DroVrs'
Me hanicn* A Trad's
G reenw ich ------- ----Leather Manufae’ r*.
S eventh,, . . . . . . . . . . .
State o f Hew York.
American Exchange
O#® mere
B r o a d w a y .......
Me roan tile .......
Pacific ..............

1,258,1
1.960.0
905,0
472.5 2,98e,5
m
94,0 1,597,6
800,0
525.8 3.243.8
1,200,0
5,000,0 2.587.8 24,935,0
22,917,5
5.000.
0 3,057,5'
5.805.8
1.000.
0 1,577,1
1.000.
0]982,0 7.883.1
2.371.0
490.4
422,7
1,590,0; 848.6 11.931.7
Republics........
*4.071.8
975.4
450.0
C hath am -.—.. .,
1.742.1
P eople*' -- ...
200,0s 238.4
0,424.2
582,1
N orth America
700.0
1,000,0: 2,044,8 16.800.7
Hanover. -......
500,0; 347.6 2,808,0
Irv in g ........
,394,1, 2.410.3
G luteus'..... .
600.0
2.462.1
282.4
N a a a a o.,. . . . . . . ......
600.0
Market A F u lto n ...
900,0] 963,0; 5.654.4
3,400,3
115.4
Shoe A L e a th e r..... j 1,000,0
..........
I
9.155.2
Cora E xch an ge........i
1^000^0] 1,243,0
5.019.3
Continental . . . . . . . . I 1,000.5 200,1
Oriental.
.... .....
800,0j 394.2
Im porter*'A Tred'r* 1.500.0 5,555.5! 23,802,0
Park .. . . . . . ............ ; 2,000,0 3,202,6 25,467,0
Ea-t RiV^r. ........ ,.J
250,0
138,8
1.223,7
3.200.0 2,040,8 20,790.7
F o a r ib _
_
500.3
7.712,0
Central. . . . . . ____
1,000,0
3 0 0 ,0 :
#aco£td .. .. ...............
070.7
............
290,1
750.0
N in th ........ ...
.. ..
P ir«h*....... . . ... ... ...
7,028.7
rh irti... ... .
244,8?
L 000,0!
75,01
N. Y. N » " l E xch 'ge.
800.0
250,0] 598.8
..........
N ew York Cettfiiy.,
426.3
200,0
280,4!
750,0
artsn® Am erican...
Cfc
7.458,4 l.'JttU.J
Fifth A t *?-mm.. ____
, ; 1,108,3
550.2
2,360.4
228,4
%x e b e o g o ..
Wh.iJ
Itarmacti*
S.HtW.li
5 :«,2
5»>O.0
5,810.9 1.016,6;
599,2
United **t* i m .. . . . . .
5.720,8
LS»«•*>?» .
3tM»,0
609,6
8 :«,u
<
1(111,!
200,0*
4,2 J 1*0}
fforfltid
725.3
1,581,2!
200.0
HOB.5
224.J
Fifth
4.504,41
841,0
Hsu k o f n a M strop,
300,0
826.0
2,397,0|
230,0
W#*A *14**
320,1
2CH>.0
IfiM tjM M .
k M ’d
7«2,0
285,1
6,400,0
500,0
188,0
m x th ___
1,600,0!
839,1
200,0
W torn
2,100,0
451,0 12,608,0
856.5
886,2
Ftrs* N*L BT
ktyn ...
930,3
5,407,0
300,0
Hat. VmiDo. Riwik. .. 1,200.0
.
874.6 10,380,0
2,584,7
LSh«rtr N *% Batik
.
500,0,
248,0
258*6
» Y.Fr®4 -EXhlt’ gO'. 1,000*0
353,9
8.7W.7;
300,0;

181.7

224.8
165.5

10 0
0
20
0 ,0
20
0 ,0

1 72 .8
2
54
7,8

.. . -... fti?ha.7-73,8«3.«-'»0S.«a).T'87.3TO .»'l0B .808.g B7»,868:9

Bid.

S E C U R IT IE S .

Tennessee—6s, o ld .........1892-1898
6s, new bon ds.......... 1892-8-1900
Do
New series... . 1914
Compromise, 3-4-5-6S...........1912
New settlem ent 3 s ................ 1913
Redem ption 4 s ...................... 1907
Do
4 % s....................... 1913
Penitentiary 4% s...................1913
Virginia funded debt, 2-3s— 1991
6s, deferred Vet Ten'ts, stamped.

102%
122%
Smith Carolina—i"%s, 2 0 -40..193 3 105
6s, non-flm d.............. - ........... 1888

11% omit two cipher* (0 0 ) in all eases.

B anks

A sk.

Missouri—i nil (l----------- 1894-1895
........ North Carolina—6s, o ld ........... J&J
Funding a ct................. - ........1900
New bonds, J& J ....... 1892-1898
..
Chatham R K ..............................
Special tax, Class X..................
Consolidated 4s.....................1910

7*. Arkansas Central R R ............
Louisiana—7s. c o n s ............... 1911

May 1, 1807.

Bid.

SECURITIES.

Bid.

SECURITIES.

81%

Ask.

82

645s

N e w Y o r k C it y , B o s t o n a n d P h i l a d e lp h ia B a n k s :
Capital 6
Surpi-us
$
133.726.5
133.726.5
133.726.5
133.726.5

Specif
$
502.512.6
503.988.2
504.847.2
505.831.7

/.egait.

$
85,808,4
80.624.8
87,073.1
87.329.8

101.780.8
102,557,4
105,881.0
105.803.8

Deposits.- Oirc'Pn CUarinQS
565,016,6
568*859,2
574.784.8
576.863.9

15.589.2 5013*73,8
15,454,8 507.010,6
15.372.3 535 713,7
16,002.2 492,572,3

7.541.0 107.075.0 9.379.0 93,938,9
7.207.0 166.134.0 9.441.0 83.260,2
6.972.0 166.292.0 9.268.0 89,708,1
119.345.0 6.882.0 52.444.0
38.249.0
35.388.0 108,620,0
119.245.0 0,928.0 60.899.1
39.082.0
35.388.0 108.684.0
119.925.0 6,865,0 52.404.1
39.151.0
35.388.0 109.081.0
* We omit two ciphers in all these Jttfures.
i including for Boston and Philadelphia the item "due to other banka".
63.393.8 176.410.0 10.146.0
03.393.8 176.180.0 10.160.0
63.393.8 176.231.0 10,106,0

M is c e lla n e o u s a n d U n lis t e d B o n d s :

M isce lla n e o u s Bondi*.
M isce lla n e o u s Bombs,
Jeff, & Clear, 0. < j , 1st g. 5b 100 b.
fc 1
Oh. Jon. & S. Yds,—OoLLft,5s
77 b.
2d g. 5s — . .. ..............
Colorado C. & I. lat cons. fkg.
Manhat.. Beach H. k L. g. 4s.
Colorado Fool k L-—
Gen. os.
Metropol. Tel. k TeL 1st 5s..
i ol. & Hock. Coal- k I.-Sa. g.
Mieh.-Pealn. Car 1at 5s Commercial Cable-1 s t g. 4s.
Mutual U* ion Teleg.—68, g.. 107 b,
Cona.Gas Co.,Chic.—1st ga.5*
Nat. Starch Mfg. 1st6 8 -.... 100 hib.
De Bardelehon O. & I.—gi 6s.
N. Y < N. J. Telep. gen. 5a .
&
Det. Gas con. 1st 5 ..... ..........
Northwestern Telegraph—7»
Edison Eleo. 111. Co.—lfttSe..
People’s Gas k C. i lat g. 6s
Do of Bklyn., list.S'*.108 a.
Co., Chicago...... 12d g. 6s
Equit. C.-L , N. Y.,cons.g. 5s.
1st cons. g. 6« . . — 103 ^h.
Equitable G. & F.—Iht 08—
South Yuba Water—Con. 6s.
Erie Teleg. k Telop. 6s, g...
Btftndard Rope k T.—Inc. 5s.
Galvestou Wharf Co.—1st 5s
Sunday Creek Coal 1st g. 6s.
Henderson Bridge—1st g. 0a.
Western tJnl m Teleg.—7s... 107»4h.
Illinois Steel deb. o s ,............
Wheel.L.E.«fePitt .C al letSs
Non-conv. oeb. 5 a .....J.—
'N ote —"b” indicates price bid: **«” price asked. * Latest prioe this week.

Bunk Stock List,—Latest prices. ffNew stock. *Not Listed.
BANKS.

Bid.

Ask

325
170

340
170

Bowery*-----

225“
125
160
400
285
Chemicftl... 4000
500
125
170
206
130
285
135
l l t h Ward-.
Flf1 A ve.... 3000
h
Fifth1_____
First...........
First N.t S. I. 126"
14th Street..

O n t.ra.1 +

Gftnnevoort..

310

2801
140
170

BANKS.
Garfield...—
*
German Am.
German Ex.*
Germania—
Greenwich ..
Hanover,... H d e & L .- ..

300 i I ra.& Trad'i-'
45 (|) Irvin g.,.-.. .
Lea'her Mfs*
140 Liberty*..
Lincoln .....
21 0 Manhattan...
140 Market* Fnl
*
300 Mechanic1’ M'chs* &TrH’
Mercantile...
3500 Merchant.’ ..
Merch't. Ex.
hletropoTs...
150! Mt. Morris..
Nassati ....
j330 j New York...
N. Y* Co’nty

Bid.
BANKS.
Bid. Ask.
...... N.Y.Nat.Ex
Ninth........... 100
...
..... 19th Ward,.
N. America. 135
Oriental___ 180
Pacific. . . . . 175
350
...... Park.......... 260
People’s . , ... 210
155*'
P heiilx..... 105
525 550
Plaza .. .... .....
140 155
180
|Republic... 150
130
iSeaboard_
_ —
750
220 240 ISecond........ 425
100
Seventh.
200 240
Shoe & Le’th 90
185 195
125 130
Stateof N.Y. n o
90
165 180 T h ir d .......
140 145 TradeanTn’s. 97
12th Ward*.
114
Union......... 200
440 480
iUnion Sq.*..
158 170 lUn’d Sialea.
iYorkville*...
230 240 W estern.,,.. 114
685 700 ,!West Side... 275

500
110
....
350
165
325

Ask.
........
102%
*.** • ** •
—•.*
196
270
240
112
........
160
178
---...
98
......
100

120
.......*

TH E

May 8, 1897. j

PBILADlLPlilA

CHRONICLE,

879

AM) BALTIMORE STOCR E X C B A >0I8.

4 f k a a r e P r i c e n — a o t P e r C e n t a m P r ic e s *
A c tiv e S to c k * ,
t Indicates unllstec.
Atoh. r. A 8. Fe.(B os/on).100
Atlantic A Pac.
*
*
100
Ba.rlmore A Ohio (Bali.). 100
Ba t. City Pass’ger “
25
Baltimore Traction 4
4
25
Baltimore Trao’ nllfP/iU.). 25
Boston A Albany (Boston'*. 100
100
Boston A Lowell
*
•
100
Boston A Maine.
*
•
100
C eitral o f Mass .
P r e fe rr e d .......
4
4
100
4
4
100
Chic. Bur. A Quin.
Chic. Mil.A 8t. P. (Phil.). 100
50
Cho(j.OAG.vot.t.o
100
Cit. 8t R y.of Indli
Fitchburg pref-.fBos/any.lOO
Lehigh Valley
(P h ila .). 50
M etropol’ n Trao.fl
“
100
M exican Cent’ l (Boston) .100
New England___
*
*
100
^refened _____
“ 100
Northern Central (B at .). 50
Northern P a d tie (Ptiila.)lOO
^referred
“
100
Old C olon} . . (B o 8 ionj 100
Pennsylvania ...(P h ila .). 50
Pailadelph. Trao.
“
50
Reading ('o ---------4
4 50
Union P acific.. . ( Boston) A 0 0
Union Traction..(P h ila .). 50
U Is e e l la n e o n s s t o c h » .
Am.Bug’r R e f i n .( B oston).m .
m
Preferred . . . . . .
4
4
100
Bell T elephone..
25
Bo-it A Montana.
25
B atte A Boston \
25
Calumet A Hecla
Canton Co .........<Balt.;.1 0 0
Consolidated Gas
“
100
E ec.Stor. Bat’ylKPhila.> 100
Preferred If
" 1 0 0
E 'le T eleph one.(Boston/. 100
G meral Electric.
"
100
Preferred. . . . .
100
IlUnols S t e e l___
"
100
La oson StoreSer
50
Lehl’h CoalANav. ( T Mia. 50
N. E.Telephone (Boston). 100
Pa.Heat,L.APow (Phila. I.......
Unit'd Gas Imp.1l
“
50
We sbach Light 1
i
4
4
5
West End Land. .(Boston)
* Bid 8Dd asked prices; no

Saturday,
May 1.
10

Tnesday,
May 4

10

10%

10%

*1 ’ %

*11%

19
19%
■___
19% 19%
214 214
214 214
'213%
213 215
160% 160%
*160 162
»0%
*9
*9
10k
*56
*56
58
58
72
72%
73
72
717ft 72
i
7 1 78 72 H
6%
*6
6k
6H
1
21 % 21%
93
93
*93
23% 23%
23% 23%
99% 101-I
102
102
8
*7 H
i
7 h> 7*4
.. . . . . . . .
57
57
*19%

*11% u % * 11 ®
g
'3 3 7s 34 k
35
179 *
51%
I 178 53
I
67*. 677. 68 k
5%
6
*">% 6
9
9
9
113%
103
224
113
151,
360

l i b 7*
103 k
22 4
114%
157s
3G0

•58 H 59
i

12%
35H
178%
51%
6S7s
» ‘ 1«
6
S >
)H

114 1141.
103% ' 03%
223 22 i
110% 1 11 %
1478 15%
360 360

18%
64
31
75
35%
22

Bid.

Prices oj M ay 7.
A t anta A Charlotte (Balt.). 100
Boston A Providence (Boston). 100
Camden A A tlantiopf. (Phila.). 50
C a ta w is s a ...
*
*
50
1st preferred .......
50
Central Ohio .........
[Balt.) 50
Ch oago A West Mich.iBot&m). 100
Connecticut A Pass .
“
100
Connecticut River
“
100
Consol. T r a c t o f N.J.* (Pktfo.hlOO
Delaware A Bound Br.
*
•
100
Fltnt A Pere M arq.. (Boston). 100
Preferred
.....
4
4
100
Hestonvllle Passmuf. (P hila.). 50
Preferred 1f.................
“
50
Hunt. A Broad T o p ...
"
50
Preferred.....................
“
50
KaD. C’yF t.8. A Meiu,< Boston). 100
Preferred .. . . ...
“
100
Little Schuylkill.........(Phila.). 50
Maine Centra1.......... ( Boston) 100
Mine Hill A 8. Haven. fPAOa.y 50
Nesuaebontng V a l. . .
“
50
N rtn Amerioan C o..
4
4
100
North Pennsylvania.
4
1
50
Or.8h. Line all asst.pdr Boston). 100
Pennsylvania A N. W. (P h ila .). 50
Phtladel. A Erie........
4
4
50
Rut and ..................... (Boston). 100
Pre e r r e d .................
“ 100
Southern....................... (B all.) .100
Preferred.....................
“
100
West E n d ................... (Boston). 50
Preferred ....... ...
4
4
50
United Cos. o f N. .T . (P h ila .).100
W e d Jersey A Sea 8h.
4
4
50
Western N.Y. A Penn
4
4
100
Wisconsin C en tra l...(B oston ). 100
P referred ....................
4
4 lo o
Woro’st.Nash.ARoch.
4
4
100
MISCELLANEOUS.
Ailonez M1n’g, M*t n<\( Bn*ion i 25
.(B oston ). 25
50
10
10
2b

Franklin Mining. ...
2C
Frenohm 'n’s Bay L’d.
Ke*rsarge Mining___
25
O ioeola Mining. . . . .
25
Pullman Palace Car.
100
Pennsylvania Steel.. (Phila.). 100
Preferred H..............
“
ioo
Q iln cy Mining.......... <Boston). 25
Ttm araek Mining_
_
25
W *ter Power . . . . . ..
100
W jstlngh. Elec. A M..
50
Pref., cum ulative.
50

Bonds—Boston.

At. to v . A 8. F. general g. 4s, 1995
Aiilnstnient g. 4s, 1995............ ...
Boston nitorf Gas 1st 5 s . . . . . . . . ..
•Pnp* Includes overdue oonuon

58>,
17

584,
17Hi

Wednesday
May 5
10%

10%

10*4

11
11
*11%
66 *
66
19% 19% *19% 19%
___
19% 19%
214 2! 4
214 214%
•213 2 15
213% 213%
160% 160% 160 16 J
*9
*9
i0%
10%
58
*56
58
*56
73% 74
73% 74
7 2 7g 73%
72% 73%
'6
6%
G>
H
21
21
93% 93%
93% 93%
23 H 24
?
23% 24%
102 102
•71,
8
8
8
*»"
k
72%
123« 12%
12% 12%
‘ 3 i % 35 % *34% 35%
178% 179 *
178 k
51 »8 5 7
S 5178 52
69
69% 69%
69 >
S I,, »■, .
sue 97 ^
5%
5%
5H
5Hi
9%
9%
yi«
S '.
1 15
103%
222%
109%
14%
355

1177g
104%
224
111 %
15%
3d0

58
5S%
17% IS
19% 19%
64% *6i % 64%
*63
31% 3 m
31 *, ■3l\
*70
75
70
75
•33
35
34% 315*,
21
21
21
21
•37%
*384. . . . .
101% 102 •10;% 102
102 102
13% 13%
13
13
72
7078 7C7s 71
40
40
40% 40%
391, 40
2
2
2
2
111
I Lowest is
I
sale was m ade.
18%
64
31
•70
*34%
*21

Inactive Stock*.

Bay State Gas i].. ..
Beaton Land............
Centennial M ining..

10%

Mondav,
May 3.

115% 117%
103% 04%
2 22 223
112% 11 3*4
15% 15^
355 355
*62
67
*58
59
18% ih h
20
20
*64
64%
31% 3118
70 70
34% 34%
21
21
x38
38
102
LO2J
13% 13%
72% 72*4
40
40
2 1 , 2 i,o
ex dividend.

Bonds.

Ask.

Thursday,
May 6
10

10 *
4

*Ll
*........ 66
19H, 19M
19*4 19*4
214 214%
213 213
160 160 %
*9
10%
*56
58
73% 74%
72k! 73%
6%
6%
21% 21 %
93% 93%
23% 23%
104% 04%
7»8
7»8
...... .....
*72*4
11%
35%
178
51%
69%
9 1,B
*5k.
9i<

12%
35%
17-1
52
69%
i*7,.
-%
e
9,

Friday,
May 7
10%
**«
•11
*65
*19%
19
214
212%
*16 *
‘9
*56
73%
73%
6
*21
93%
23%
101
7*
*18
*57
*71
12%
36
178
51 7«
69%
9H

115% 116%
104 104
221% 222
111 % 113
15% 15%
350 3 '•
'5
*........ 67
•5-*4 59
*7% 17%
64%
31*4
70
34%
•20
38
102
72
40
‘2
t
| Bid

115%
104
221%
114
15%
350

UGH,
104
222%
115%
16%
352%

*5SH> 59
10% 17
18% 18%
64% *63
64%
3l*4 *31
3m
70
7)
70
35%
34%
35
21*4 *21
21%
38
38
38
101
102 102
13% 14
12
*71Hl 72
40
40
40
2%
Trust
ASk.

Range o f sales in 1897.
Lowest.

Highi:/1

2,780

109*4 Mar. 29 1*8% Mar.
100^ Jan. 6 105% Mar.
205*4 Jan. 4 28 Apr.
94% Jaa. 2 129 Mar.
6 Jan. 11 20 Mar.
326 Jan. 2 35-0 Mar.
60 Jan. 8 67 k Feb.
58 May 4 62% Jan.
15% Apr. 22 3 1 Feb.
17k Apr. 3 " 33 Jan.
833a Apr. 1 67% Feb.
30% Apr. 12 36% Feb.
7<> May 5 78 Jan.
29% Apr. 21 4 l 7p Jan
20% Jau. 6 23% Feb.
38 Mar. 29 4 2 Jan.
101 Apr. 5 103 Jan.
13 Apr. 30 16 Mar
7 0 T May 3 74% Feb.
s
38% Apr. 6 47 Jan.
1% May 4
2% Feb.
rec.,all instal. paid

Bonds.

Bid

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

Ask

63
People’s Trao. trustoerts. 4a.. 1943
97
971*
92% 93%
119 1 Perkiom en, 1st ser.,5s-1918, Q—J
99
107
205 268
Phila. A Erie gen. M. 5g.,1920, AAC 117
99 1 Gen. mort., 4 g .......... 1920, A AO 105
103% Phila A Read, new 4 g., 1958. JAJ
8U7g 81
99^
49
2d mort. 6 s................ 1913
1st pref. incom e, 5 g, 1958, Feb 1 2
2 1 '*
30
12% 12%
2d pref. lnoome, 5 g, 1958, Feb. 1
$ 93
7
94 8,
5
3d pref. 'noom e, 6 tr, 1958.Feb. 1
98% 100
147 149
7d, 5 s ............................1933. A AO 123
. 52
132
245 250
56
Consol, m ort. 7 « .................. 1911,JAT
55
56
112
26
28
Oonsol. mort. 0 g ____1911, JA I
166 190
60
im provement M.8 g .. 1897, A AO 101 *8
< 45
12
5 61
66
10
Oon. M.,5 g.,stam ped.19 22,MAN
25
30
Eastern 1st, mort 6 g.l906,i>i<ic8. ,119 120
Terminal 5s, g .......1941. Q.—F. U 4 %
Free.Elk. A M .V .,1st, 68.1933. end J129
49
50
Phil. Wilm. A Balt., 4 s .1917, AAO
Unstamped, 1st, 6s, 1933 .......... >129
60% 61%
Pitts. C. A St. L., 7 e....1 9 0 0 , FAA
.......
17
6 • Rochester Railway, oon. os ..1930 "89%
I 45
5 79
80
48% 49
8ohuyl.R .E .8ide,lst5 g.1935. JAI? 103 105
65
10
67
1T U C Oir.jArtU
IO 1. K
/
J
o
5
Union Terminal 1st 5 s...........FAA
40
5120
30
K.
C. 8t. Jo. & C .B .,7 s ..l9 0 7 , J&J122
B o n d s . - B a lt im o r e .
52% L. Rock & Ft 8., 1st, 7 s.. 1905, J&J § 75
90
Atlanta A Chari., 1st 7s, 1907, JAJ 120% 120%
§100 103
121 123
88i« 90
Baltimore Belt, 1st, 5 s .1990, MAN
56
§ 85
87
2m..
Balt. C. Pass. 1st 5 s ... 1911, MAN 112%
§107 108
Balt. Traction, 1st 5 s.. 1929, MAN 111 112
5 67
68
Exten. A iinpt. 6 s .... 1901, MAS 105 106
15
91)
16
No. Balt. Div., 5 s....... 1942, JAD 111% 112
16
7
8
Baltimore A Ohio 4 g., 1935, A A O 101
N. Y. A N.En<?„ 1st, 7 s ,1905, JAJ1 4119 119%
Pitts. A Conn., 5 g___1925, FAA
| 18%
1st mort. 6 b................. 1905, J&J t u r n 113
Staten Island. 2d. 5 g.1926. JAJ
J 81
83
Receivers’ certificates, 6s..JA D 104 104%
%’ 1
15
Do. Maryland Construe., 5 s -----I 100 100
Bu tland, 1st,6 s ............ 1902,M&N §105 107
Do. Plttsb. A Connells., 5s..J A J
97% 100
2d, 5s........................... 18 98,FA A 5 98 100
Bal.AOhlo 8. W .,lst,4% g.l990, J A.
74% 75
.....
UapeF.AYad.,8er.A.,6g.l916, JA I
93% 94
&r,lao8t P o ^ ! r i s t h^ a^ i ,9 U ‘ M&S 107 H 108
Cent. Ohio, 4% g .............1930, MAS
98H,
i
246 246% Buffalo Ry. oon. 1st, 5 s.......... 1931 108
Cent. Pass., 1st 5s____1932, MAN 113
.....
45% 50
Latawissa, M.. 7 s ____.1900, FAA
City A Sub., 1st 5 s ........ 1922, JAD 113 115
2
Choc. Okla. A Gulf, prior lien 6 s.. ____ _ 110
Chari. Col.A A ng.ext.58.1910, JAJ 108% 109
19.
1
72
1% Citizens’ St,Ry.of lnd.,oon.5s.l933
Col. A Greeny., 1st 5-6s. 1917, JAJ n o
78
3
Colurab. 8t. Ry,, 1st, con. 5s.. 1932
1
G eorgia A Ala., 1st pf. 5s.l 945,AAO 101% 101%
112 118
Colamb. O. Crosstown, 1st,5s. 1933
81% 82
........ Ga. Car. A Nor. 1st 5 g ..l9 2 9 , JAJ
893» 90
ConsoL Tract, o f N. J., Ist,5s.l933
Georgia Pac., 1st 5 -6 s...l9 2 2 , JAJ 115
•50 1*00 Del. A B’d Br’k, 1st, 7s. 1905, FAA
97*4 97*i
......... Geor. So. A Fla., 1st 5 s ..1945, JAJ
Easton A Am. IstM .,5s. 1920, MAN 105%
North. Cent. 6 s . . . . . . ....1 9 0 0 , JA.i 108
19
19% Elco. A People’s Trait, stock, tr. otfs
70
6e....................
1904, JAJ 114
70%
4%
8eries A , 5s...................1926, JAJ 115
m Elmir. A Wilin., 1st, 6s. 1910, J A J .
4
4 % s ........
1925, AAO 106
m Hestonvilie M. A F., oon. 5s.. 1924
GH Hunt. A Br’d T o p ,C o n .5 8 .’95,AAO
,
6
Itts. A Connells. 1st 7a.1898, JAJ 105
Lehigh Nav. 4% s.................... 1914,Q—J
88% 89 H
111
........ oouthern, 1st 5s.............. 1994, JAJ
1
i
H
)
2d 6 s, gold .............................1897,JAD
11
10
104*4 104% Virginia Mid., 1st 6 s . ..1906, MAS 113
l
General inert. 4 % g. 1 9 2 4 ,0 —F
2d Series, 6s................. 1911 MAS 119
%
92 1
15% Leuigh Val.Coal 1st 5e,g. 1933,JAJ
15
3d Series, 6 s . . . . . . ___ 191.;, MAS 114%
29
29% Lehigh Valley. 1st 6 s... 1898, JAD ......... . . . . .
98
4th Series, 3-4-5e....... 1921, MAS
167 158
2d *78........
1910, MAS . . . . . j
5th Series, 5 s.............. 1926, MAS 103% 104%
20 ( Consol. 6 .......
1923, JAD
i
West Va C. A p . 1st, 6 g.1911, JAJ 108 H 109
40
Newark Passenger, oon. 5s... 1930 10714 108
W1lm. Col. A Aug., 6 a ..1910, JAD 117
104 106
121 |
North Penn. 1st, 4 s . . . . 1936, MAN
MISCELLANEOUS.
116 118 i Gen. M. 7s............... . 1903, JAJ
Baltimore Water 5 s ... 1916, MAN 121H,
__ |
i
Paterson Railway, consol. 6 s .........
1
Funding 5 s ................ 1916, MAN
24
23
Pennsylvania g e n .6 s , r.,1910, Var 133
Exchange 3 % s.............1930, JAJ 106%
74
50
51
75
Consol. 6s, o
...1 9 0 5 , Var
119% ......... Virginia (State) 3 s ,n e w .1932, JAJ
1
64% 65
Consol. 5s, r ........... ....1 9 1 9 , Var
Funded debt, 2-3a........1991, JAJ
479% 79%
C ollat.Tr. 4% * . .................. 1913,JAD
besapeageG as 6 s . . . . .1900, JAD 106% 107
1
117% .......
645
45% Pa. A N . Y . C anal, 7s . . . l 0>,JA D
81%
Con. 5s. ...................... 193
AAO
'8 0
110% 110%
Boston United Gas, 2d m. 5 s .

U Unlisted

> And acorued Interes .

lit 60
15X18
5106
} 96
5103
i 99

1038
%
12
66
19%
19
214
212%
161
10%
58
74%
73%
6%
23
94
23%
105
7%
25
58
72
12%
36%
179
52
69%
9%
5*
9H,
9>4

Sales
o f the
Week,
8hares.

TH E

880
SEW

v o l t It S T O C K

CHRONJGLE.

E X C H A N G E P I U C E S ( C o n t i n a e i l >— A C T I V E

M u I

KXILaOAt) AMD
n *x>C* BoWD**

Kiln? e

P eriod M a y 7.

ju u w . 0 9 $ M O Q ,
8 « *}J ® fI
S
» Spirit M U .. l i t , f e m
M A S
A n n A rbor.—l i t , t » .
* k t)

U t A S P .-N e w gem 4 i J o i? ' Nov
AdlQCBMBt 4 i ................
a?w sy*7thA V .-l«t<»B.g.5i»4-S * ® *

B r o o k l jo K iev . 1st,
« * $
U nion K le v a t M .-O g ...1 9 3 7 “ * «
B U jro H*p. T ra il*., 5 g . ... X W A j* “ V

losqu.

73 t).
79
BON
45 q

in 1807-

Bighat.

Xcicfkt.
106
70
74q
70
42q

Feb.
A p r.
Jan .
A p r.
A p r.

120
m u * Jim.
7 ? q b . 7 0 Feb.
77
70 q o .

08
Fob.
7 5 q A pr.

105% Jan.
B U ya rn.<i»*.t*!.c<>n.5g.194o r, ? 7 n o q
04
9 1 is Mar.
BTuroW ltf<AW .U -l»t.&i).i{. 1 1 :' * *
lio q
O • a*d*<o o i h d H L - u w ^ ^ i J
n j^ e
i 105 Ttb. 108 Jan .

1 04 % 51itr.
b. 8 9 % M a y
b. 106>8 Apr.
110 b. 113 M ar.
110 b. 109 A p r.
97%
9 0 A p r.
75 q b . 7 8
M ar.
l U % b . 114 M ar.
* 102 Sib. 100 Jau.
‘ 101 tab. 99% J a u .
120 b. 119 Jan .
l l O ^ b . 1 18 % Jan .
107% Jau .
lO 0 ia
73>«
72
Mar,
102 a. 97 Jan .
9 1 b. 86 J a n .
11813b. 115 Jan .
nn
97 J an .
looqb. 9 9 % M at.
9 i q b . 93
Feb.
8 7 % J au .
91*3
120 a. 118 M ar.
*'
1 1 4 b. 1 U
A p r.
125 q b . 12*
Apr.
93 b. 9 8 % Feb.
109
109 31ay
9 3 J an,
08
1 3 1 lab. 128 Jau .
lisqu. 1 15 % Jau.
119 b. 1 15% Jan.
115 7gb. 112 Jan.
111
106% Jan.
n s q i i , 110% Jan.
113>a 1 10% Jan.
9 6 Jan ,
101
120 b 118 Jan.
4 2 >a i 4 0 J an.
141
140 J an .
Coupon, gold, 7a................1802 J * D 1 1 9 % b . 116 Jan .
0
S in kin g fu n d , 6 s ................. 1 929 A A n lltfiab. 114 Jan .
k
B tn k ln gfu n d , 5 s . . _______1929 A A O 109 b. 1 08 % A p r.
S inking fu n d , d eb em . 5 s . 1933 M A N 112ia 1 1 0 % Jan.
1 06 Jan.
2 5 -y ea r d eb en tu re, 5 8 ... 1909 M A N 108
b. 101 Jan.
E xten sion , 4 « .................... 1926 m
M il. L. Sh. A W ., 1 st, 0 k . 1021 M A N 130 b. 131 M a y
K x ten . A Imp., 5 g ........1929 F A A 'l l l i a b . 112 Mar.
OWc. K .l. A Pao.—6a, coup .1917 J A J 131 b. 128% Jau .
101% Jan .
E x te n s io n a n d c o l., 5 8 .. .1 9 3 4 J A J lO ji-i
a. 93 Jan.
3 0 -y ea r d eb en tu re, 5 a ...1 9 2 1 M A 8
Ohio. St. P. M. A O .—8 s ...1 9 3 0 J A D 1 3 iq b . 126 Jan.
119 b. 116 M ar.
C W e .A S V .!n d ,~ G ® n „g .,6 s .l9 3 2 Q - M
O ler. Lor. A W h e e L - 5 a ...l0 3 3 A A 0 ’ 100 a. 102 ,1an.
,
b. 131% Jan.
a 0 . C .A I.—G au80l.7g . . .1 9 1 4 J A D
G en era l, c o n s o l.,6 g . . . . 1 934 J A 3 127 b. 123% Jan .
7 2 a. 7 0
G 0 . C A S tL .— P oo.A E .,4 e .l9 4 0 A A 0
Mar.
Ool. M id lan d —C on s., 4 g . . ! 9 4 0 F A A • 1 5 b 110 A p r.
OoL A 9U> A v e . gu . 5s, g .,1 9 9 3 M A 8 11038b. 115% Mar.
OoLH . V a L A T o L—C on. ,5g. 1931 M A 8
08 b.[ 63 Feb.
50
G en era l, 8 g . „ ...................1904 .1 A D
4 9 % Feb
D m v . A R io G r .—1st, 7a, g. 1 90 0 51 A N 109% b.
Mayl e t c o n s o l., 4 g , , . . . . . . . . . 1 9 3 6 J A J
8 8 b.; 88 Jan.
Dul. A Iron B 'ge—1st, o s . 1937 A A O 9 7% b .; 9 8 % A p r.
D ili. So. Bit, A A I L - & « . . . . 1 9 3 7 J A J H )1 b,; 9 9 % Jan .
Kdlaon E l. III.—la t,o o n .g .5 a .’ 95 J A J 109 b., 104% Jan .
Erie— 4, g, p rio r b o n d s ___1996 J A J
89
88% M ay
General, 3-1, g .................1996 J A J
. " '
64
62 3Iay*
E rie R y .—1st, oon ., 7 g . . l » 2 0 M A S 141%
139 % .Mar.
L ’S D ock , oon soL , 6 g .1 9 3 5 A A U 134% b. 133% Jau.
F t W. A IJeti. C ity.—4-0 g.1921 J A I)
58
53 J an .
8 8%
G a M l.A H em A n -M .A P .D .lH t.S g M A N
83 M ay
Gen. E le c tr ic .d e b . 5 s . g . . . 1922 ,1 A D
97
9 0 % J au.
Houa. A T .O en t. g e o . 4 » ,g .l 9 2 1 A A 0
6 6 b. 0 5 % A pr.
EUlnola C en tra l.— l » , g ____1 953 M A N
90
99 % J an.
Wm u t u Linee, 1st, 4 k g . 1 9 5 F A A 102 b, 1 00% Feb.
I n t A G r e a t N a r .— iit ,0 8 ,g 1919 M A N 119 a. 117 M a y
3d, 4 % -5«............................1009 51 A 8
76
73 Jan .
I o w a C en tra l.—l a t ,5 g ___ 1938 J A D
B0%a, 88 A p r.
K in g s Go. K iev.—l e t , o g . . 1935 J A J
4 5 b. ■11 Feb.
L a cled e G a s.—1st, 6 i ,g . . . l 9 1 U q - F
95
9 3 % Jau .
L ake E rie A W w t— 5 g . . . . l 9 3 7 J A J 115 b. 113% Jau.
L. S hore. —C on ,op ., le t . 7a. 1 900 J A .1 112 %b. 110% Jan.
Oonaol. c o u p . ,i d , 7 a , ...1 9 0 3 J A D 123
119 Jan .
Lax. A v. A P u v .F .g u . 5a,g 1998 M A S n « % b . 115% Mar,
L o n g Ia ia m i— l s t b o m , 0 g .l 9 3 l Q - J
117 b. 113 Jau.
„ -------------------------- 4 g ...1 9 8 8 j a a
General mortgage, * * ..
88 b. 70% Jau .
L e a l*. A N »»li. —C o n « .7 e .. 1098, A A O 103 %b. 102% Apr.
M.O A M ob ile, l * t , 0 g . . .193013 A J 1 20 b. 110 Jan .
“
"
2 d. 6 g .„ lBSOlJ A J •103 b. 98% Jan.
G e n e r a l,6 * ........................1 9 3 0 J A D
118 b. 1 15% Jan .
U nified, 4 „•.......................... 184 0 :3 A J
79
7 8% J an .
Lonia,N. a . A O h . - u t , 0 « . 1 9 l o J A J 113 %b. 111 Jan .
O o n a o l, 8g, tr. re o o lp U .1 9 1 0 A A O ■181 a. 182 Jan.
J U nhattan oonaol. 4a........ 1 990 A A 0
0 2 Jib, 9 1 % A p r.
Martro. E le v a t e d .- la t , g . l o o s J A J T 1 0 % b . 1 16 % J an .
3d.0 a .......... .................... 1899 M A N 1 0 t% b . 105 Jan .
3d. *
entl o f O m —OMM-, * * , J L j f t 8 l * o £ j '
C entral o f N , J .~ O o o a .'7»,1899
rkiuaoL, 7 * ...........................1902 M A N
G en eral m o rtg a g e , 5 g . . . l 9 8 7 J A J
iA h .it W .B ..C om ,7 s,»s 'd .1 9 0 0 G - M
"
m o rtg »* «»5 s .l9 1 2 M A N
A M . D o c k A Im p ., 5 * ------1921 J A J
C entral FwsMti.—b o l d , 6S .1898 J A J
E xton . ft g ........................... 1898 J A J
{340*. A Ohio. - S e r .A , 6 g ..l 9 0 8 A A U
M ortgage, 6 g ..................... 1911 A A O
lS tM m a oL .S K .................-.1 9 3 9 M A N
G eneral 4 % s ,g ...................1992 M A 8
R .A A .D !v ., 1 B loom , 4 « .1 9 8 9 J A J
*'
2 d c o n .,4 g . . 1989 J A
Ohio. B u rl. A- a —C om 7 8 .1 9 0 3 J A
D eb en tu re, 5s.....................1913 M A N
C o n v e rtib le 5a ................... 1 903 M A 8
D e n v e r D iv ision 4 a ..........1922 F A A
N eb ra sk a E x ten sion , 48.1927 M A N
H an. A 8t. J oe.—Crina.0a.1911 M A s
Ohio. * E . I l l — 1 st,a. 1.68.1907 J A D
ConsoL 6 g ...................... . ..1 9 3 4 A A 0
G en era l c o n s o l , 1 st 5 8 ..1 9 3 7 M A N
C h ica go A E r l e . - l 8 t . 5 g . . 1982 M A N
Ohio. G a 8 l . A 0 . - l a t . 5 g . . 1937 J A J
A
0 W c .M ll.A 8 t. P .—C o n .7 8 .l9 0 5
A
1st, S ou th w est IMv., 6 s ..1 9 0 9
A
l i t , So. M inn. D lv ., 6 s . .1 9 1 0
A
lit,C h .A P a c .W .D lv .5 a ..l9 2 l
0 h l c .A M o .R i v .D l v .,5 s ..l 9 2 6 - A
W ise,A M Irm ., D lv , fig ...1 9 2 1 i A
A
T e rm in a l, 5 g .......................1 914
Gen. M ., 4 g „ s e r le s A ----- 1 989 J A
MU, * N r.— 1st,c o m ,6 s .1913 3 A D
(o
Ohio. A N. Pao., 1st, 5 g - . . 1 9 4 0 A A O
OUSo. A N . W .- O o n 8 o l , 7 s .l 9 1 5 J 4 r ?

89
100

10313

0713

13313

10 3
94

1

*
4

0

109
81%
80%
83%
49%
120
78%
79%
81
1 12%
101
111
103
92%
108%
115%
118
104%
90
116%
102%
101%
12 L%
121
112
76%
104%
92
118%
101
102%
96%
93
121
115
126
101*4
112
98
1 34 %
119
119
116
111%
114
1 13%
1 02%
1 18 %
144
1 45 %
120
119

Jan .
F eb.
F eb.
M ar.
F eb.
M ay
A p r.
A p r.
F ob.
A p r.
J an .
F eb .
F eb.
M ar.
M ar.

Mar.

F ob.
F eb .
F eb.
B eb,
’
A p r.
A p r.
M ar.
M ar.
A p r.
F eb .
M ar.
Mar.
A p r.
A p r.
M ar.
Jan .
A p r.
F eb.
A p r,
M ay
M ar.
J an .
A p r.
M ar.
A p r.
A p r.
Sliiy
A p r.
M ay
A p r.
Mar.
F eb.
J au .
A p r,
A p r.
M ar.
M ar.
113 A p r.
110 A p r.
1 03% F eb.
1 3 4 A p r.
115 J a n .
132 A p r.
1 95% M ar.
99% F eb.
131% M a r.
117% J an .
102 J a u .
133% A p r.
127
M ay
75
Jan .
>17 Jan.
118
Feb.
8 8% J au .
87 J an.
113% A p r.
89 Jan .
1 01 % J an .
102 F eb.
111% M a y
9 5 % F eb.
6 6 % F eb.
143% F e b .
136 M ar.
5 9 % M ar.
91 % F eb.
9 7 % A p r.
7 0 M ar.
103 Jail.
103% M ar.
1 2 0 A p r.
8 0 F eb.
97% J an .
50% M ar.
97% A p r.
117 A p r.
113% Mar.
1 24% Mar.
118 F eb.
117% Jan .
8 8 % Mar.
106% Mar.
120% A p r.
103% Mar.
118 A p r.
81
F eb .
113 A p r.
185 Jan .
9 5% F eb.
120 M a y
107% A p r.

112

[V ol . L X IV

BONDS M A Y

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1923

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Ool, Mid. l«t, g , <L, »««(■! .193(1 *00
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1807.

....... 69 M ar, 7 3
M idi. C e n t —1st,cone., 7 s .1002 M A N 11 o b. 1 16 % Jan. 1 19
OonaoL, 5 » ........................ 1802 M A N -105 b. 107 F ob. 108

Jam
A p r.
M ar.
1 03% A p r.
95% Jam
85
M ar.
63
J am
8 7 % Jam
105 Jam
101% F e b .
103% Jam
103% J a m
1 03% M a r.
102% M ar.
77% F ob.
110
F ob.
68% F e b .
131
S lay
102% M ar.
1 0 4 % M ar.
121% A p r .
1 10 % S la y
114
M ar.
121 F e b .
109% A p r.
100% M ar.
136% M ar.
118 J am
140
M ar.
06 F e b .
110
M ar.
1 0 3 % J am
7 4 % J am
1 19 % Jam
7 4 % M ar.
1 17% M a y
8 SSb M a r.
5 6 % F eb.
110
M a r.
104% M ay
90
Jam
t l5
Jam
90% Jam
( 1 9 % M ar.
1 1 4 A p r.
84
F eb .
1 12 % A p r.
104
F eb.
106
F eb.
2 7 % J am
F eb .
(4 8
Jan .
f 36% Jan ,
(3 4 % J a m
1 02 % M ar.
7 4 % Jam
7 4 % F eb .
(5 4 % M ay
115% F e b
1 1 2 % F eb .
9 8 % F eb
06% F eb
7 0 J am
28
Jam
122
A p r.
1 26 % A p r .
107 M ar.
9 3 % S la y
5 9 % M ar.
9 3 A p r.
9 6 % S la y
108
J an .
8 8 % A p r.
105
F eb.
91
J am
8 9 % J am
1 09% M ar.
109% A p r.
1 15 % M a y
115 F eb.
122 % Mar.
1 1 4 % S lay
7 9 % Jam
8 8 % M ar.
89
Star,
90
F eb.
23
Jam
Feb.
108
F eb .
(7 5
F eb .
105
95
F eb.
Jan.
150
% M a r1 17 % A p r*
(7 8
Jan119
M ar.
( 7 7 % Star.
37
F eb.
114
F eb .
1 0 3 % M ar.
1 0 7 % J an .
7 3 % Jam
25
Jam

101%
------100 J a n .
91
9 0 % A p r.
83%
82
Jan .
85%
5 4% M ay
72
71
A p r.
95 b. 98
M ar.
101 b. 100
A p r.
1 0 0 % b . 100 A p r.
1 00% F eb .
1 01 % Jam
103 b 9 8 J a n .
69% a. 7 1 A p r.
119 b. 117
Jam
%
0 5 % A p r.
131
1 2 7 % J an .
09 %a. 9 9 % A p r.
103 b 1 0 1 % J a n .
%b. 117% J an .
D eben .,58,oonp., 1884..1904 M A S 109% b. 106 Star.
b. 1 10 % A p r.
N. T . A Harlem, 7a, r e g ..!9 0 0 M A N
a. 117% Jam
K.W . A Ogd., consols, 5a.1922 A A O
109
W estShoro, gnar., 4 b___ 2361 J * J
105 J am
N. Y . Chlo. A o t. L .— 4 g . . . l 9 3 7 £ A 0 1 0 4 %
1 03 % A p r.
*130% b. 136 Mar.
N .Y .L a o k .A W .—I a t , 6 s .. l 9 2 1 J A
C o n s tru ctio n , 5 a ............. 1 923 F A A *lia%b. 1 1 6 % M ar,
N.Y. N. H. A H .-C o n . deb. otfa. A A O *138% a. 1 32% Feb.
9 2% b .
N.Y. O n t & W .-R o f. 4a, g.1992 M A S
% Jam
110
C o n s o l., 1st, 5a, g ...........‘ .1 9 3 9 J A D
1 08 % F ob .
a, 100 Jan .
N .Y .S u s.A W .l s t r e f ., , g .1 9 3 7 J * J
69 %b, 6 9
A p r.
M idland o f N. J., 0a, « . . . 1910 A A O 117 1). 1 16 % A p r.
Nor. A W. By,—1st, oous,,4g.’96 A A O 0 7% b . 6 7 % A pr.
*117% b. 113
N o.P aolllo—1st, coup. 6 g .l9 2 1 J . A
Jam
87%
P rior lion, ry. A l.g. 4, g.1997
8 5 % Jan.
52%
G e n e ra l lie n 3 g ................20 4 7 .
5 1 % A p r.
?
No, P a oitlo T er. C o—6 g ___ 1 93 8 ■ A J 107 a 1 0 1 % Jam
A J 1 04 %
O h io A Misa.—O o n .a f ° 7 s ! 1898
104
M ar.
90
O h io S ou th ern —la t , g . . .1 9 2 1 -1 A D
8 3 % F eb.
%
G en era l m o rtg a g e , 4 g .,1 9 2 1 M A N t
1 % A p r.
9 0 b. 1 8 5 % M ar.
O r e g o n lm p r. C o.—I a t 6 g . . l 9 1 0 J A D
20
U V W U ..V ........................ A O
C on sol., 5 g . . . . --------- A 1 939
15 F e b .
% b. 110
O r e .B .A N a v . C o.—1st, 6 g . l 9 0 9 J * J
J am
82%
K R . & N a y. o on a ol., 4 g .1 9 4 6 J * D
8 0 J an ,
b. 109% Jan .
P en n . C o .-- 4 % g ,c o u p ........1921 J & J
97%
P e o . D eo. A E y a n s v
g -1 9 2 0 J * J
97% M ay
9 8 a. 1 0 0
E ya u s. D iv is io n , g ........1 9 2 0 M A S
F eb.
*i 2 4% a . 1 24 % A p r.
2 d m o rta g e , 5 g ................. 1 92 6 M A N
P hlla. A R e a d .—G e n .,4 g .,1 9 5 8 J * J
179% A p r.
I s t p f .i n o ., 5 g , a llln s t. p d .'5 8
13 9
A p r.
2 d p f.in o ., 5 g ., a ll Inst. p d .’ 58
12 9
A p r.
3 d D tin o ., 5 g ., aU inat. p d .'5 8
13 0 % M ar.
P itts. Sli. A L. E ., 1st, 5 g .1 9 4 0 A A O 1 0 0 %
95 J am
P itts b u rg A W e ste rn —4 g . 1 9 1 7 J A J
69
69
S la y
R io G r. W estern — 1 st 4 g . , 1 939 J A •
* 73
7 0 % M ar.
St. J o . & G r. Isla n d
g . . l 9 2 o M A N I 53 b. 14 7 % Jam
St. L . A S a n F r.— g . Cl. B . 1 9 0 6 M A N l l l % b . 112 J an .
G eneral m o rtg a g e , 0 g . . 1 931 J A J i l l
. 108% J au .
G e n e ra l, 5 g .................
1 93 1 J A J
96%
9 4 % J an .
R a ilro a d , 4 g ......................1 9 9 6 J A J
64% a. 62% Jam
St. L . A SO. W .— 1st, 4s, g .1 9 8 9 M A N
04%
5 9 % A p r.
2 d , 4s, g ,. I n c o m e ............. 1989 J A ,1
2 2 %b. .15 A o r .
8 t . P .M . A M .- D a k . E x „ 6 g .l 9 1 0 M A N l l u % b . 1 16 % J am
l s t e o n s o l .,0 g .................. 1 933 J A J 126 %b. 123 Jam
re d u c e d t o 4 % g . J A J
%
1 0 2 % Jam
M o n ta n a e x t e n s i o n ,! g . 1 937 J A D
9 2 % b . 8 7 % J an .
S a n .A n t.A A .P .— l s t ,4 g .,g u .’4 3 J A J
57 %b. 5 4 % J am
So. Car. A G a .—1 st, 5 g . ,.1 9 1 9 M A N
b. 8 7 % Feb.
B o .P a o ld o , A m , —6 g . . . 1 9 0 9 -1 0 J A J
b. 9 0
F eb.
SO. P a oitlo,C a L —0 g . . . 190 5 -1 2 A A O *105 b. 106 M a y
1 st o on a ol., g o ld , 5 g .......
A A O
8 0 ii
85
F eb.
So. P aoitlo, N. M
g .......191 l J A J -1 0 4 b. 1 02 Jam
S ou th ern —1st o o n s . g, 5 S .19 9 4 J A J
89%
8 7 % M ar.
E .T e n n .r e o r g .l i e a - l- 5 s .l 9 3 8 M A 3
8 5 b.
% M ar.
E .T . V. A G .— 1 s t ,7 J . . . . 1 9 0 0 J A J 1 09 % b . 1 0 7 % Jam
C o n .5 g ............................1 95 0 M A N 1 0 7 %
107 Jam
G e o rg ia P a o. I s t 5 - 6 s ,g .,1 922 J A J 115 % b . 107% Jam
K n o x v . A O h io l8 t 6 s ,g ,.1 9 2 5 J A J
b. 112 Jam
R ic h . A D a n v , oon . 6 s,g..l9 1 f> J A J 1 2 2 b. 117% Jam
W o B tN o .O a r ls t o o n .6 s ,g l9 1 4 J A J 114 b. 1 1 1 % Jam
S ta n d a rd R o p « & T .,ls t.0 g . 1 946 F A A
63
00
M ar.
l e a n . 0 . 1. A R y —T en . D .ls t , (ig A A u
8 9 A p r.
B irm in gh a m D iv ., 0 g . . . 1 91 7 J A J
80
79
A p r.
T e x a s A P a o itlo —1st, f f g
J AO
89
8 5 % J am
2 d ,ln a o m e , 5 g ................
M aroh
20%
18 A p r.
T o l e d o * O h l o O e n t .—5 g . . 1 93 5 J A J 103 b. 102 Mar.
T o L S t .L . A K a n .0 .—0 g . . . i 9 1 e J A U f
%
166% M a y
U n io n P aolllo—0 g . _ ............ 1 898 J A J 1 03 % b . 101% M ar.
E x t s in k in g f o n d , ........ 1 899 M A s *(
b. 8 5 J am
C olla tera l tru st, 4 % ........ 1 91 8 M A N * t5 0 a. t 4 9 % Jau ,
G o ld a,
L tru s t notes. 1 8 9 4 F A A
99
F eb .
K a n .P a o .- D n .D iv ,, g . 1 89b M A N 117% b. 113% Jam
ls t o o n a o h , 0 g ......... ,..1 0 1 9 M A N ! 7 2 % a . 167
Jam
O re g o n S h ort L in e
g . 1 922 F A A t l l 0 %
1111% J an .
O r.S .lA A U t’hN .— O o n .a g l 9 I 9 A A o t 75
6 3 % Jam
U .P .D e n .A G u lf ,o o n .,jg .l9 3 9 J A U
36
33 A p r .
U. S. L ea th er— 3. S d o b .8 g .1 9 1 3 M A N 110% b. 110
’
M ay
V irgin ia M td.—G e u .j. 5 S . 1 9 3 6 M A N
9 9 b.
Jan .
W abash— 1st, 5 g . . „ ---------- 939 M A N 1 01%
% M ay
2d m o rtg a g e , g ........_ .. 1 9 3 9 F A A
64%
6 3 % A p r.
D e b o n ., S e rie s B .............1 9 3 9 .1 * J
....
18% A p r.
W e a tN . Y . A P a .—1st, 6 g . l 9 3 7 J A J 107
1 0 4 % Jam 107% Mar
50
F ebGen. 2-3-4s, g o ld ............. 1 943 A A O
43% x
43
M ay
W e a t U m T e U -C o L t r . 5 S ..1 93 8 J A i I 0 7 % b , 1 0 0 % J a m 1 08 % A p r MarWlao. le n t On st, ft g L ..1 9 3 7 J A J t 29%
t B M ay (4 0
Minn. A 8 t .L — l» t o o n .5 » ,g .1934 M A N
K . A E .—l i t 5a, g ., gu.. 1 04 2 A A O
M. K . A T exa a .— l i t , I b , g .1 9 9 0 J A U
2 d , i s , g ............................... 1 990 F A A
M o. P a o,— l i t , o o n . , 6 g . . . . . 1 920 M A N
3 0 ,7 8 .................... ............... 1906 M A N
P a o . o f M o.— 1st, o x ., 4 g . 1 938 F & A
2d e x t. 58.........................1938 J * J
S t .L .A X r .M t .la t e x t .,5 8 .1 8 9 7 f * A
2d, 7 g ............................... 1 897 M A N
C a iro A rk . A T exaa, 7 g .l8 9 7 J A D
G en. K’ y A la n d g r .,5 g ,1 9 3 1 A A O
M o b ile A O hio—N e w g .. .1 9 2 7 J A D
G e n e ra l m o r tg a g e , l e
1 938 « A
N a s h .C h .A 8 t L .— l a t , 7 e . . 1 913 J A J
O on aol.. 5 g .......................... 1 928 5 * g
N . Y . C en tra l—D e b t e x t 4 «. 1 905 M A N
la t , c o u p o n , 7a .................. 1 90 3 J * J

1

6

66

120
110
120

88

102

5
8

6

8

8

1

8

112
112

.—
6
6

(82

6

—6

0

100
8
8
93

1937

.—6

86

112

..20 0
0
20 0
0

68
8
8

8

6 0
0

6

102

6
—
6

1

100
101

6

1

1

I’ lt I C R H — ( O o n t l a n o I

o K U U B im s s .

B a lt A O h io—
5s, g old ..................................... 1925
Oons. rnort., g o ld , 5 s ............. 1988
W V ». A P i t t s .- * « t ,g ., 5 a .,1990
B. & O. . W „ 1 st. g „ 4 % e ... 1 990
M on on. R iver, D t .g ., g. 5 s ..1 9 1 9
O ent’I O h io R e o r.—1st, 4 %a. 1 93 0
102“
A k .* C h .J u a o .—1st,g ,5 s ,g u .1 93 0
. % B rook ly n E levated—2 d , 5 s . ..1 9 1 5
Seaoldc A R R .-1 s t .,g ,5 s ,« n ,1 9 4 2

8

FOR YE AR

Olating
I n f it Price R a n g e f t a l t i ) in 1 8 9 7 .
Period B u g 7.
Highest,
Low est

M ex, I u t e r n a f l—1st, 4, g . 1942 M A 8

2

K o m — “ V Indicate* p rice bid/ " a " p r ic e a tk e ti; the r a n g e Is m ad e u p f r o m a ctu a l sa le s o n ly .
N JY

7 AND

B id.

* L a te s t p clo e this weak,

IN A C T IV E

A-sk.j

BONDS

M IF

( T ru st r e c e ip t!,
7

SECURITIES.

Branswlok & W’n—l i t , g., 4s. 1938
91 % Buff. Roob. A P itts.—Gen. 58-1937
Rooh. A P., 1st. 6 b................1921
Rooh, A Pltte.—Con8.1at,6s.l922
Buff. A Susqueh.—1st, 5s, g .1913
B urt.O ed.B ap.A N o.- lat,5a -190 6
Consol. A oollat. trnat, 5 s .. 1934
9 8 % .........
Minn, A St. L —1st, 7s, g n ..1927
Oed. Rap. 1. F. A N „ ls t ,6 s .l9 2 0
43
43%
1st, 5a................................... 1921
08

Bid.

Ask.

98
i 251*1
121 121%
*103
104
102

.........
.........
104

TH E

Ma t 8, 1897.]

CHRONICLE.

881

NEW JOBS. STOCK. EXCHANGE PRICES.—INACTIVE BONDS—(C o n tin u ed )-M A Y 7 .
SECURITIES.

Bid.

ABk.

O Ohio— Col. A Oln.M. le t,4*48.1939
93
Osnt. RR . A Bank. -C o l. jr.58.19S7
Cent. By. o f Ga. - l« t , g.t 5 s ..1945 113 113*4
1st, pref. lnoome, g., 5 b — 1945 *271*
11
2d, pref. lnoome, g., 5 e ....... 1945 ‘ 10
.....
Gent, of N. J.—c o n v . deb., 6 s .1908
Cent. Pacific— Gold bonds,68.1898 *102*4
Ext. g. 5s, series A B C D ..1898
Gold 5s, series E .......... .
1898 * i o m
Ban Joaqnln Br., 6 s . . . ..........1900 101
Mort. gold 5 s.......... . . . . . . . . . 1 9 3 9
99
Land grant, 5 b, g.............. ...1 9 0 0
CaL & O. Div., ext., g. 5 b. . .1918 ♦102
102*4
West. Paolflo—Bonds, 6 b___ 1899
No. Railway (Ca*.l—1st, 68.1907
92
87
50-year 5s.
1938
G ent Washington—1st, g., 68.1938
Ones. A O.—Pnr. M. fund, 6 b . 1898 104% 105*4
Oralg Valley—1st, g., 5s— 1940
Warm Bpr. V a l., la t, g. 5 b. . 1941
100*4
Eliz. L.A Big 8 a n d y -G . 58.1902
Gass. O. A So. West.—1st 6 b, g.1911 • mmmm
id , 6 b........................................1911
Oh. V .-G en .con.l8t,gn.g,5a. 1938
........
Chicago dr Alton—8. F „ 6 b. ...1 9 0 3 i 'l 2 ^
*110
*106
.....
Bt L. Jaoks. A C hlc.*103 107”
*
104%
......
Ohlo. Bnrllng. & Q.—5b, s. f..l9 0 1
105 V
99% .......
Plain, 4 b............ a .................. 1921
Chicago A Iow a D lv.—5s. ..1905
99"
Oslo. A Indiana Coal—1st 58.1936
OhL MU. A 8t. P.—1st,88,P .D .1898 105 105*4
131
*131
1st, 7 b, $ g., R. I
1st, I. A M., 7s.
130 1 3 f
1st, 1. A D ., 78.
.1903 131
1st ,G. A M., 7 b .
133 136
11I1«
1st, La C. A Dav., 5 b...........
128is 135
1st, H .A D., 7 s................. .
109
1st, H. A D „ 5 b...................
121
Chicago A Pacific D lv., 6s.
*106 109
a A L. Sap. D lv., 5 b............ 1921 *109*4
107
105 n o
• in
120 122
111
111
*101
Win. A Bt. P —2d, 7s.
MU. A Mad.—1st, 6 b.
Ott. C. F. A Bt. P.—1b
Northern 111.—1st, 5a

*107%
107*4
107 ^
130

lBt, 21*8.............................
Extension, 4 b ...................
Keokuk A Dee M.—let, 5a.
Jnlo. Bt. P. A Minn.—1st,6 s ..
Bt. Pan! A 8. C.—1st, 6 b___
General m ortgage, 6 b.......... 1932
Ohio. A West. M ich.—5 b........ 1921
Gin Ham. A D.—Con. s. I., 78.1905
»1 , gold, 4i*a..........................1937
Gin. D. A Irin—l8t,g u . 5s,g.l9 4 1
Olev. Ak. A Col.—Eq. A 2d 68.1930
Clev.ACan.—Tr.ctfs.forl8to8.1917
a O . C. ABt. L.—Gen., g. 4s . 1993
Cairo division, 4 b. ...............1939
8LLou.Dlv.—Istcol.ts’t4e,g.l990
Spring. AOoLDlv.—1st,g. 4a. 1940
WhlteW.Val.Dly.—IsLg. 4s. 1940
Cln.Wab.AM.Dlv.—1st,g.4s. 1991
Gin. I. Bt. L. A 0 .—lBt.g.,48.1936
C on sol, 6 b ..............................1920
01n.Ban.ACl.-Con.l8Lg.58,1928
Indiana B. A W .—1st pf.78.1900
Ohio tnd.AW .—lB tp re f.5 e ..l9 3 8
Peor. A EasL—Incom e 4 b ..1990
O. Col Cin. A Ind.—1st, 7s,s.f.l8 99
Consol, sink. fund. 7 s.......... 1914
Cln.ASpr.—1st,C.C.C.AI.7S. 1901
Cleve. Lorain A Wh.—1st, 5 s .1933
Oleve A M ah. V.—G o ld ,5 a ... 1938
Del. Lack. A W .—Morn 7 b. . . . 1907
8yra. Bing. A N. Y .—1st, 78.1-906
Morris A Essex—lBt, 7 e .... 1914
Bonde, 7a............................. 1900
78 o f 1871............................1901
1 Bt, con., guar., 7 b............. 1915
Warren -2 d , 7 b ..................... 1900
D. AH.Can.—Pa.Dlv.,ooup.78.1917
Albany A B osq —le t, gu.,78.1906
1st, cons., guar., 6 s.......... 1906
R ees. A Bar. let, uoup., 7b. 1921
Denv. Tramway—Cons. 6s, g . 1910
MetropoL Ry.—let,gu. g.6s. 1911
Denv. A R. G.—Imp., g., 5 b. ..1928
Det.M. A M.—L. g. 3*4B,tier.A.1911
Det. A Maok.—1st lien, 4 e ,g ..l9 9 5
4 b, gold............................... ,..1 9 9 5
Erie—
2d, extended, 6 s . ................. 1919
3d, extended, 4 i*b................. 1923
*th, extended, 5e................... 1920
5th, extended, 4s................... 1928
1st, con., g., f d, 7 s ...............1920
B. N. Y. A E.—1st, 7 s.......... 1916
Bnfi. A B. W.—Mortg. 6a....1 9 0 8
iefieraon—le t, g o. g 5 s ___ 1909
Ooal-A R R .— e.i................... 1922
O
nook ATropLi ls t 0 a .o o r J
ov.l913

‘ 62*4

........

*102
104*4
*128 ^
128% 13u=s
_____

119

107 *
"69

70

90
94*4 96
87i*
1011b 102
109
107*
16
1055s 106
.........
127
125
14L%
112
113
144%
109
142
121
L16
1421s

16

100
128

145

145
” 84’ *
18

117*4 121is
112
116is 120
101 is
137*4 138'*4
102
105
no

SECURITIES.

Bid.

ivana. A T .H .—IsL cons., 68.1921
at, general, g., 5 a ............... 1943
M Vernon 1st 6 e . . . . . .......... 1923
IL
Ini. Co. Br. le t, g „ 5a.......... 1930
E -ana. A Indian.—1st, c o n e ..1926
Flint A P. M arquette—
M ort., 6s......................
1920
1st, con. gold, 5 b ................... 1939
Pt. Huron D iv.—1st, 5 s ___1939
H a. Cen A Pen.—le t g. 5s___1918
1st con. g., 5 b .........................1943
't. Worth A R . G.—1st g., 5 s ..1928
Gal. Har. A S an A nt.—1st,68.1910
2d m ort., 7 s ............................ 1905
Ga. A Ala., 1st, pref., g. 5 s .. .1945
Ga. Car. A Nor.—1st, gu. 5s, g .1929
Honaatonlc—ConB. gold 5 b___1937
N. Haven A Derby, ConB.5s..l918
Hons. A Texas Central—
Waco A N. 7a...................... 1903
1st g., 58 (lnt. g td i................ 1937
Cons. g. 6 b (lnt. g td ).............1912
Debent. 6s, prln. A lnt. gtd.1897
Debent. 4 b, prln, A lnt. gtd.1897
Illinois Central­
is t , g., 4 b................................. 1951
le t. gold, 3*4B......
1951
Gold 4a...............................1.. 1952
2-lO^g., 4 8 ...............................1904
Cairo Bridge—4 b................... 1950
Spring!. D lv.—Conp., 6 s___1898
Middle D lv .-R e g ., 5s.......... 1921
O. Bt. L. A N . O.—T e n .l „ 78.1897
le t, oonsol., 7e..... ...............1897
Gold, 5 b, o o n p o n ................ 1951
Memp, D iv., lBt g. 4 b....... 1951
Belly.A So. IU„ gu., g „ 4*43.1897
Ced. Falls A M inn.—le t,7 a ..1907
lnd. D. A Bpr.—le t 7s, 1906, trust
recta., e x bon ds.............................
Ind. Deo. A IV.—1st, g., 5s___1935
Ind. His. A Iow a.—le t, g, 4 s ..1939
1st, ext., g. 5 b. ..................... 1943
lnt. A G. N’n.—3d, 4s, g ........ 1921
Kings C o.-F .E l.,lst,5,g.,gu. A. 1929
Lake Erie A West.—2d g., 58.1941
North’ n Ohio—1st, gu. g. 58.1945
L. 8. A M .Sou.—B .A E .—N ew 7 b. ’98
Det. M. A T.—le t, 7e.............1906
Lake Shore—Div. b on d s,78.1899
Kal. A ll. A G. R —1st gu. 58.1938
Mahon’g Coal RB .—1st, 58.1934
Lehigh V.^N.Y.—1st gu.g.-i Uja. 1940
Lehigh V.Term.—1st gu. 5e,g.l941
Lehigh V*y Coal—1st 5s,gu .g.l933
Lehigh A N.Y.—1st, gu. g. 48.1945
ElmlraO.AN.,l8t.g.lBtpf.68.1914
Guar., gold, 5 s................ ..1 914
1Jtchf. Car. A W est—le t 6a. g.1916
Little Rook A M.—1st, 5s, g ..l9 3 7
Long Island—
le t, 7 b ...................................... 1898
Ferry, le t, g., 4 * s . . . ........... 1922
Gold 4 s.................................... 1932
N. Y. A R ’way B.—1st,g. 5e. 1927
2d m ortg., ln o .................... 1927
N .Y.B.AM .B.—1st con. 5e,g.l935
Brookl'nAM ontauk—le t,68.1911
1st, 5 8 .................................. 1911
No. Shore Br.—lsto on .5 s,g .l9 3 2
Louie. I, vane. A SL L.—Con.5s.1939
Louie. AN ash.—Cecil. Br. 7B..1907
E. H . A Nash.—le t 6s, g ....l 9 1 9
Pensaooia Division, 6 b.........1920
Bt. Louis Division, lat, 6s. ..1921
2d 3 b . .
. 1980
Nashv. A Deoatur—1st,7 b. .1900
**. f.,68.—8. A N. A la............. 1910
50-year 5s, g .,........................ 1937
Pens. A A t .- let, 6s, g o ld ... 1921
CoUat. trust, 5 b, g ................ 1931
L .AN. A M.AM.—Ist,g.,4*asl945
Nash.Flor.A8.—lBt, gu., 58.1937
Kentuoky Central—4 b, g ... 1987
L. A N .—L o u .O .A L .-g . 4*8.1931
Lou. AJefi. Bdge Co.—G u.g,4s. 1945
Lou.N.Alb.ACh.—Gen.m.g.58.1940
Memphis A Chari.—6s, g old .. 1924
Mexican Cent. ConsoL—4a, g.1911
let, cons. Income 3a, g.........1939
Mexican National—la t,g ., 6 b. 1927
2d, Income, 6 b, “ A” .............. 1917
2d, lnoom e, 6s, “ B " . . . ........1917
Mlohlgan Central—6 b.............. 1909
Coupon, 5 b. . . . . . . ........
.1931
M ortgage 4 s............................1940
BaLC.AStrgie.—l8t,3s,g.gu .l989
Minn.A St. L.—1st, g. 7 b.........1927
Iow a Extension, 1st,7s.......1909
Southwest E xt.—1st, 7a.......1910
Pacitto E xt.—1st, 6 b .............1921
Mo.K. A T ex.—1st, ext., 5 b, g.1944
M o.K .A T .ofT ex.lst,gu .5s.g.l942
Kansas City A P .,1st,4 a ,g ..1990
Dal. A Waoo—1st, 5s, gu .,,.1 9 4 0
Missouri Paolfio—Trust 5 a ...1917
1st 00U., 5a, g .......... ............ 1920
Mobile A Ohio—la t ext., 6 b. . .1927
SL L. A Cairo—4s, guar....... 1931
Morgan’ s La. A T.—la t, 6 b. . ..1 920
1st, 7 b....................................... 1918
Nash. Chat. A St. L .—2d, 6s. .1901
N. O. A. No. E .—Pr. 1., g., 6 b. . 1915
N. Y. Central.—Deb. g. 4 b. . . . 1905
N. J. Juno—Guar. 1st, 4 b . ..1986
Beeoh Creek—1st, gold, 4 b. . 1936
Osw. A Rome—2d, 5s, g„gu . 1915
Utica A Bl. R iv.—4b, g., gu.1922
N. Y. A PuL—1st, g., 4a. gu. 1993
B. Y. N. H. A H .—le t,re tf.48.1903
B. Y. A Northern—lat, g. 5 a..1927
B. Y. Sneq. A W est—2d, 4**s.l937
Terminal, let, g. 5s.............. 1943
WUk.A East.—lat,gtd.,g.5a. 1942

110

Ask.
75
86
84

73>*
48

107

120*4
125
110
100

103

'9 5 '
112
101*4
100*4

101 103
103
101
T22*4
♦98
101
31*4 31*4
42
102 102*4
101 102
104*8
107 107*s
114
117
96
95
108*4 109
92*4

103
•83

103*4
85

‘ 98
42**
35
104*4 106*4

-105

115

107

109

95*«
95

96
98

104*4
*86
106*4
43

103
140is 150
ia i5 i
72“

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

6 9 is
” 42”

50*

iiT % 120*"
124
10514 105*
102is --.1
108% 109
106
117'
ioT

"

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

90

SECURITIES.

B id.

Ask

Northern Paoiflo—
St.Paul A N. P.—Gen., 6 s ..1923 127
N orfolk A South’n—lBt, 5 s,g .l9 4 1 103 106
N orfolk A West.—General, 68.1931 120
New R iver 1st 6s.............. ..1 9 3 2 115
Im p. A E xt.. 6 s . . . . . .............1 9 3 4
C ol.C onn.A Ter..lst,gu.g.5s.l922
Ohio A Miss.—Consol. 7 b....... 1898 104*4 105
2d oonsol. 7 s .........................1911 116 117
Bpring.Div.—Is t 7 s ............... 1905
102=8
General 5 b............................... 1932
Ohio R iver R R .—1st, 5a.......... 1936
i ’02*4
Gen, g .,5 a ............................... 1937
54
Omaha A St. Louis.—IsL 4 s ..1937
Oregon A Califor.—1st, 5s, g.1927
Penn-P.C.C.A8t.L.Cn.g.4*48A194r 109*4
Do
do
Series B 1942 109*4
Do
do
Series C 1942 *105
Do
do
Series D, 4s, 1945 ‘ 100 102
P .C .A 8.L.-lB t,0..7s................ 1901 *110
Pitts. Ft. W. A C.—1st, 7 b. . .1912 *137
2d, 7 e ...................................1912 ♦136
3d, 7 s.................................... 1912 130
Oh.SLL. AP.—lst,oon .5 s,g ... 1932 112*4
Olev. A P .—Cons., s. fd ., 7 s .1900 109*4 110
Gen. 4*48, g., “ A .............1942
Do
do
Series B 1942
Bt. L .V .A T . H.—1 s t,6s., 78.1897
2d, guar., 7 s . . . . . ___
...1 8 9 8 *99
Gd.R. A I.E xt — lst,4**s,G,g. 1941
Alleg.Val.—Gen., gu., 4s, g.1942 101
N . ACin.Bdg.,gen.gu.4*48.g.l945
Penn.RR.—1st real, eat g. 4s.1923
Cle.A Mar’ ta—1st,gu.g.4*43.1935
D . R lv.R R .A Bdg—l8t.gu.g.4s.’ 36
107*4
Peoria A Pek. Union—1st, 68.1921 112
2d m ortg., 4*48.......................1921 *75
Pitts. Cleve. A T ol.—1st, 6s. ..1922
Pitts. A L. Er.—2d g. 5s, " A ” . 1928
Pitta. Mo. K. A Y .—1st 6s.......1932
Pitta. Painav. A F.—lat, 5 s ... 1916
80
Pitta. Shen. A L .E .—
1st consol. 5 s . . . . . . . ...............1943
Pitts. A West.—M. 5 s,g.l8 91-194 1 *20
Pltts.Y’gst’nA A .—1st, 5s,oon.l927
80% 81
Reading Co.—Gen. g., 4 s ....... 1997
R io Grande So.—let, g., 3-48.1940 *55
58
St. L. A. A T. H .—Term. 5 s ..1914 105
Bellev. A Car —1st, 6s......... 1923
Chl.8LL.APad.—lat,gd.g.5s 1917
90
Bt. Louis So.—1st, go. g. 4 s .1931
do
2d Income ,5 b. 1931
Oar. A Shawt.—lBt g. 4 b___ 1932
Bt. L. A 8. F.—2d 6 s,g., ol. A . 1906 1 1 1 * 1 1 2 *
2d, 6s, g., class C .................. 1906 1 1 1 * 112=8
1st, trust, gold 5 b.......... .. 1987
86
90
Ft. 8. A V .B .B g . -1 s t, 6 s ...1 910 '105
St.L. Kan.A S.W.—1st, g.,6a,1916
St. Paul City R y, oon. 5s, g .,,1 9 3 7
Gold 5 b, g u a r ..................... ..1 9 3 7
[SL Paul A Duluth—1 st,5 s___1931 109
1 2d m ortgage 5s.......................1917 101
BL Paul Minn A M.—2d M, 6 b. 1909 1 2 0 * 121*4
Mlnneap. U nion—1st 6s___1922
Mont. Cen.—1st, guar., 6 s.. 1937 119
1st guar. g. 5 b..................... 1937 TOO 108
East. Minn., 1st dlv. la t 5 s .1908 106°g 107*4
W*’ u ar ASiouxF.—1st, g,58.1938
San Fran. A N. P.—1st, g., 58.1919
Bav.FLAWesL -1 s t, oon. g.6e.l934
Seaboard A R o a n o k e -la t, 5 s .1926
Seat.L.S.AEa8t.,lst69,B8st.pdl93L
30
Southern—Ala. Cent., 1st o s .1918
110
Atl. A Char.—lnoom e, 6 b. . . 1900
Colum. A Green.—1st, 5-6B.1916
E. Tenu. V. A G a.-D lv ls.5a 1930 113*4
Rloh.A Dan.—Eq. 8. f. g. os. 1909
Debeu. 5s, stam p ed _____1927 ■97
Vlria Mid.—Serial ser.A, 68.1906
Series B, 6 s .......................... 1911
8erieB C, 6 b . . . . . . . ........... ..1 916
Series D, 4 -5 s ..................... 1921
Series E, 5 s ..................... ..1 9 2 6
.........
Series F, 5 s . ................. ..1 9 3 1
Gen., 5s, guar , stamped .1936 *99%
Waah.O.AVV.—1st our.gu.48.1924 * ____ 81
Ter. A s’n of St. L.—1st, 4*48.1939 '108
1st. oon. g. 5 s.............1894-1944 *106%
8t.L.M er.Br.Term .,g.5s,gu..1930
Texas A New Orleans—1st,7s.1905 ....... .........
8aDine Division, 1st, 6 s....... 1912
Consol. 5s, g
.
1943
Tex. A Pac., E. D.—1st, g. 68.1905
Third Avenue (N.Y).*—
1st 5s, 1937 i ’22% 124
T.AO.O.—K an .A M ., Mort. 48.1990
75
Tol. Peo. A WesL—lat, g., 48.1917
63
60
Ulster A D el.—1 st,oon.,6.,5 s .1928
102*4
Union Paoiflo—1st, 6 s .............1896 102 ^ 103
1st, 6 s ...................................... 1897 I02is 103
1st, 6 s......................................1899 103 104
Collateral Trust, 6s.............. 1908 100
Collateral Trust, 5 s.............. 1907 72
Kansas Paoiflo—1st 6s, g . ..1895 *109 n o is
1st, 6s, ft. . . . . . . . . . . . . . . . . . . 1896 113 115
O. Br. U P. - F . 0., 7 s.......... 1895
Atch. Col. A Fao.—1st, 6s...1905 •26
Atch. J. Co. A W.—1st, 6s.. .1905 *25
U .P . Lin. A Col.—1st,g., 5s. 1918 4
24
Utah A North.—1st, 7 b........ 1908 115
Gold, 5 s................................ 1926 100
Utah Southern—Gen., 7s ..1 909 *7450
Extern, 1st, 7 s................... 1909 *74*4
Wabash—
Debenture, Ser. A ...............1939
Debenture, Series B .............1939
Det. A Ohio. Ext. 1st, 5s, g .1940 90is 96
8t UK.O.AN.—8LC.Bdge6s.1908
West N.Y. A Pa.,gen.g. 2-3-4S .1943
43=8
13
lnoom e 5 s............................... 1943
WesL Va. C. A Pitts.—1st, 68.1911
W heel.AL.E.—1st. 5s, g o ld ...1 9 2 6 *91
Wheeling Div., 1st, 5s, g . . . 1928
Extrusion A lin p , g., 5 b.......49s0
WIs. rieTtl. Ineorne 5s
.1937

* ho prloe Friday ; these art the latest quotations made Ibis week. F o r H iscellaneous B om la— 3d page preoeding
See

THE CHRONICLE.

HH2

Week o r llo\

AMD

H a ilr c m d

E AR NI N GS .

The follow inn t,'iIlie shows the gross earnings of every
s ! > * i : ior .1 ; from Whioh ri'giliflr weekly or monthly returns
'
can t»' ot-iaincl. The first two columns o f figures give the
gross earning- for the latest week or month, and the last two
columns tin earnings for the period from January t to and
including such latest week or month.
The r. turns o f the street rail may* are brought together sep
aratrli/ on a m h tn jw h t page.
Latest (i r o n E a r n in g *.
ROAH*

W «fcorJ/o|

1807,
S
i
20,571
3 1 ,0 8 0
62,-105

1890.
$
18,103
3 0 ,7 0 8
5-1,808

J a n . X to L a test P a le.
1897.

8

35,533
A d ir o n d a ck ........ F e b r u a r y .1
501 ,00 6
A t*. O t. S m ith. Ithw k A p r
131,036
A la . Midi a ml . . . F ebruary .
A la . S. o .T p j . A Pan. J u n o
3 6 1 ,75 5
2 3 ,0 0 0
17,000
N O rl .v N. E 1st wk A p r
165,992
0,000
7 .0 0 0
A l a A Vlokah. Isi wk A p r
155.284
7 ,0 6 0
8.000
Vinks. 8 b. A V 1at- w k A p r
531 ,76 3
201, 2 i:
A lle g h e n y V a t .. M arch.......
1 8 5 ,01 3
419 222
2 8 ,5 4 9
3 1 ,8 4 0
A n n A r b o r ......... ith w k A p r
J5 ,2 9 1
7,883
A rk . M id la n d .. F eb ru a ry
7 .3 *2
A t o b - T .A 8. F< M a rch ....... 2 ,5 4 3 ,4 7 0 2,27-1,663 6 ,973,509
287,608
A tla n ta A Char F eb ru a ry
1 4 2 ,96 9
128 .74 '
101.686
A tia u ta A W. P F eb ru a ry .
48,0t>7:
4 5 986
173,780
A lla n . A D a n v .. tth w k A pr!
n ,4 7 l;
10.791
580,711
A tla n tic A P a r .. F e b r u a r y .; 3 0 2 ,2 6 0 2 9 1 ,29 9
15,442
A a g a * t » 8 o u t ’ n . February .
8 ,7 4 9
8 ,1 3 0
3-1,787
A u stin A N’ west F e b r u a r y .
17,533
18,6 17
75,600
Balt.Cttca.de Att. M a rc.,.......
3 1.8002 8,0 24
B elt AOU tu . M arch....... 2,100.467|1,916,268 5 ,828,679
I)
- Apr
1 3 -.2 5 2
140, fi6 1 ,9 0 5,21 53,499
50,0 25
B a n g o r A A r o o s i J a n u a ry ...
53,1 99
2,026
2 ,0 2 6
23)3 0
B ath A H am 'n d s J u n u a ry ...
5 ,3 4 4
2 .0 0 5
1.588
B it . A A t(a n tic ..M a r c h .___!
88,720
3 7,8 28
13,4 12
B rn u sw ’ kA-'iVeat F ebruary
9 8 5 ,5 6 8
8-1,711
8 1 .5 9 8
B uff.K nch.A P iti ith w k A p r
1 8 ," 5 9
120,803
37,473
B u ffa lo A .SOU). M arch........
5 5 ,8 0 7
65,861 1,107,635
B nr.C . R-sjj. A S . 3d w k A pr.
409,0*1' 5, 14,963
C anadian Pacific- U k w k A p r: 4 6 7 ,0 0
17,056
5,018
3,565
Oar. M id la n d ... M arch,
9 7 ,1 7 2 1 ,722,072
C ent, o f G e o r g i a lt b w k A p r 1 01 ,05 2
8 93 ,21 4
9 3 4 ,01 9 2.5 9 7,36 9
C en tra l o f N. J , M arch.......
8 8 0 .24 9 1,663,! 64
C entral P a cific. F eb ru a ry . 801,251
6 3,9 13
134,899
6 7 .8 7 3
C hariart'nA SA v.; F eb ru a ry 2 7 7 ,4 7 3
253 ,02 7 3 ,6 2 3,36 4
Oltea. A O h io___ Ithw k A pr
C hic. B a r . l U . i l M a rch ....... 2 ,9 9 5.73 9 2,7 1 2.14 2 8,4 3 7,82 9
C
ft S M I 111 Ith w k A p r
7 2 ,0 1 9
80,2 50 1,307,928
Ohio. Gt. W est o 3 d w k A p r.
82,591
81,3 18 1.396,722
0 b.lc.M ll, A St. P. -Ithwk A p r 7 4 2 ,0 4 8 716 ,78 5 8 ,6 7 0,28 2
Ohio. A N ’ th W n M arch....... 2 ,3 7 3,26 6 2,616.743 6,6 7 6,23 3
145,084
C hic. A No. P ao. F eb ru a ry .
6 0.1 89 ;
7 0 ,5 5 6
203,-192
C h le .P e n .A 8 t.L -M a r c h ,-___
70,3 31
8 1 ,0 * 0
4,1 4 9,81 9
C h lc-ii'S I . A P
A p r i l ......... 1,120,714 1,1 61,051
C ttlo.8t.P M .AO. M arch......... 5 5 6 .5 1 1 5 81 .63 6 1,613,103
C h lo .A W .M lc h . l t - » k A p r
33,7)10
32,3 62
4 7 2 ,i6 1
280,348
- - Ik.A I ll! M
....
7 9 ,U T
73.6 03
12,049
OUuQa. & P orta .; M a rch -----1.156
4.721
219 ,96 0
C ln .J a ck .A M a e Ithw k A p r
18.311
16,738
815,490
Ota. N.O. A T , P. M a rch . . . . . 2 9 0 ,7 o 3 2 80 ,92
17,652
CSn, P ort*. A V -J a n u a ry ...
17,6 52
21.553
181,87-1
C lev.C an. A S o ., 3d wh A p r.
11,788
13.086
C L C ta.C b.A St.L ith w k A p r; 3 1 2 .5 3 0 3 18.803 4 ,150,531
2 6 2 ,6b6
Poo. A E a st'll. F eb ru a ry . 137 ,24 9 139 .49 0
372 ,43 9
OLLor. .* W heel, I th w k A p r
3 9 ,5 8 7 ,
4 7 ,0 1 7
3 8 7 ,57 9
O o l.M id la n d .... M a rch .......
137 ,09 8
119,928
Cot. H. V. A T o i. A p r il......... ! 1 8 7 ,1 0 1
211,011
711 ,76 6
22,778
C n l.A R ea M ou n t F eb ru a ry . :
11,552
.............
176,003
O ol. tsand’ y A U . M a rch .......
5 6 ,8 6 3
55,0 56
O s in s * A C a k e.. M a rch .......
1,150
700
3,800
2,024
C r y s t a l............. March........ :
1 ,0 4 6
1 ,1 4 4
C u tn b 'i'd V alley F eb ru a ry .
8 0 ,6 7 5
57,1 98
105.859
C e n v . A Rlu o r Ith w k A p r; 1 61 ,10 u 170,900 1,993,344
O m M . A K hi.
.;
A p r.
2,051
2.523
43,417
O c a .lt. W. A W
M arch.......
2 9 ,6 9 8
39,781
92,067
B i t O . l t a p A W I th w k A p r
2 8 .0 3 3
26.5 28
380 ,05 0
.'i
40*035
4.2,091
74,099
DaitithH.8. v A ti. 3 4 wk A p r.i
23*912
29*363
387 ,32 2
S ljC ln Jol.A & M t. Ant II.......... 101 ,17 3
100,020
3 7 8 ,04 3
E rin ..................... M itreli.-------1
2,455*700 2 ,489,073 6,853,863
I S « r < * k * . .inettaary.eJ
3 ,642)
4,790
3,642
MtumMituVpMp- 4th.wL A.j*ri
“ .0 2 8
7*247)
7
81,642
1 t m », i% itie li., 3 0 wk A p r,
1,403)
21,024
1,591
T ii U liw k A p r
26,2 79
27.211
305 ,97 9
fttxohhurg,. . . . . . I chruiiry . I
491 .04 2 1,020,084
IPHn-i. A
w k A p r.
5 2 ,6 2 7
831,887
5 3 ,0 0 7
4 9 ,3 - O'
y iA ,C «c«t.a siV o. 30 w k A p r.
47,857
703 ,46 1
I
t
5 4tliw k A p r
2 0 ,0 0 8 s 49,800
314 ,92 5
R W A K!« <*r M a rch , ....
17*934
24,073
04,511
0 * 4 * , A A it, t l . M a rch *.*..
090
844
2.068
24.157-;
G#©ri$# l i f i M wk A p r.
497,502
21,9 86
ft A A la, 1c0 wk A j »r.
:
19.701
14,231
319,601
Oft. Ci&f'lft A
77.4091
M a r c h ,...,
00,93 i
251*.402
CM*. m>. A FI*.. M a r c h ,....
6 3 .0 4 6 1 03.498
2 10 ,82 8
O r | n ; , i l n 4 . . i ib w k A p r
45 005*
52.929
5 9 5 ,11 0
CSa.K. A F t W f HfkWk A p r
10,250
:
12,095
120,100
W ftm v r m . c J t f :4 i!:w k A pr'
78
1 ,109
12,543
M m . Q . H, 4 1 ■
ithwk Apr
2.025
2 ,415
33,332
Tftt. *U tin#® ith w k Apr
58,722
08,8 38
787,144
O fw s4. T va n h . ; ith w k A pr 4 2 9 ,8 4 0 4 8 4 ,2 3 1 1 5,419,037.
0 U 4 4 Qr. T f , Al-hwfc A pH
00,000
81,2 09
963 ,69 2
I M tJ ir .fl.A M ' iiiiW k A pr!
2 2 ,9 0 8
22,891!
308 ,50 8
Vtn*3mg , Si M jm il& w k A pr]
3,054
4 ,0 5 4 j
33,738
2,834!
mMoAUmk Ithwk Apr
1,002
33,743
OTftftt JforU*’ n~
0 1 F, M, 4 M A p flE .a .^ 1,0 9 3.44 7 1,032,714 3,670,871
E i# i of M ian.. IA j*rll........
1 0 0 ,4 ; 9 106 ,33 2
361,435
Mom*kiji*c#ai.A pti\_____
160,278) 158,84 0!
622 ,34 7
TeriLm i m a . ' A p r ! I . . . . . . 1 ,354,204 1,397,692 4 ,860,653
10,3381
6,833
26,381
O a ll # € M m 0 o 1March,... . . .
3.060.
11,313
Mom-TuxWit iMmoh..,..■ 3,760:
fills !
10,502
Hot!A4 $fcK*0*nl February . 236,641: 208,743:
477 ,16 7
IlH&ctf*0at»tr*H March.. . . . H 7 2 «l e i; f 1734831 15,405,210
ImC D ec. A W m %.' 34 wk Apr.
8,008
9,781
119.045

1

1897.

1896,

S

I n te llig e n c e .

RAILROAD

Latest Q rott Earnings.

R oads ,

ju u e s tm e n t

[Vou. U LIV ,

1 89 0 ,
S

28,263
457,389
119.031
305j843
150,725
1-40.180
561,861
366,393
16.385
6,968,278
258,168
96.899
178,658
594,781
13,532
39,218
77,297
5,272,205
1.992.233
50,025
2,048
5,563
96,022
987,052
106,0 L4
1,34*1,279
5,759,563
14,427
1,782.519
2,765,166
1,730,739
121,351
3,358,543
7,904,162
1,336.727
1,459,45*
9,751,244
7,448,284
138,310
241,365
4,737,147
1.759.234
473,427
304,219
13.580
229,932
82-4,077
21,553
177,322
4,099,479
294.289
407,222
439,442
836,008
178.527
2,700
3,338
120.901
2,1 95,0-3
33,316
113,945
330,491
82,847
517,501
4 13,725
6,981,957
-1,790
19,541
29,336
36u,964
1,089.000
854,374
642,521
294,088
91,523
2,606
494,811
189,318
224,755
220,067
652,389
143.U04
14,923
43,002
853,917
5.403,263
1,088.749
2-3,91 3
43,150
20,821
3,867,558
400,101
008,818
4,942,477
15,071
10,057
11,460
482,270
♦5,400,738
141,200

I Jan. 1 to Latest Dais.
1897.

1896.

8
•
S
I
In d . 111. & Io w a , F eb ru a ry .
5 6 .9 8 5
77.6 17
1 2 7 .51 7
1 5 0 .6 3 2
In .A (it. N o rth '!, n in e It A p !
93 072
6 0 .3 2 8 1 ,1 3 0 ,3 9 1
9 80 ,ii9 0
4 1 ,0 5 6
7 7 2 .3 3 5
i l n t w o e . tM ox.i W k .A p r 17,
4 8 .4 1 0
0 4 9 ,2 0 2
I o w a C e n t r a l...U t liw k A id
2 9 ,7 9 8
4 2 .2 8 0
■181.809
043 ,96 3
Iron R a ilw a y , JM uroU. . . .
3 ,1 4 6
4 ,4 7 5
10,1 54
12,573
J ack. T . A K, W, M a rch .......
3 8 ,5 5 8
3 0 ,7 3 1:
87,532.
8 9 ,9 3 0
J am w fi’ n A I C j u n ita ry ... i
2,313
2 ,3 1 3
S - m a « ,l,.A U I .l.
10,3 27
KanawlunfeMieh ittiw k A p r
1 4 6 ,4 )0
" is lo io
155 .57 8
K .C .F .S cott.A M . 3 d w k A p r.;
6 9 ,5 1 0
04,3 99 1 ,3 7 1 ,5 6 9 1 ,3 3 3.11 0
K . C.M em A Bir. 3d wk A p r.
18,3 79
18,099,
3 7 7 ,2 1 0
3 5 2 .2 1 1
K an. C .N . W . . . . M a rc h .......
2 0.5 03
9 1 .0 * 3
3 0 .0 7 7
6 6 ,9 0 2
K a n .C ity A Out. S M w R A pr.j
4 ,8 7 5
2.875!
6 9 ,5 2 9
3 0 ,8 7 7
KM). P itts. A G .. it h w k A p r,
5 3 7 ,6 6 3
6 1 ,4 9 7
16.764
197,-199
K au.C. Sub. B elt ith w k A p r
1 1 8 .1 0 5
0.794
11,901
8 5 ,3 4 3
K e o k u k * W est 3d w k A p r ;
0 ,4 2 0
7 ,7 6 0
1 0 7 ,96 6
1 2 7 ,9 8 9
20,377
L. E rie A ll & So. M a rch ........;
6 ,8 8 3
6,272
18,303
L. E r ic & W est. 4 th w k A p r
85,881
9 1 ,5 9 8 1 ,0 6 2 .3 6 2 1 ,1 2 4 .6 7 5
L eh igh * H u d ., M a rch .......
2 6 ,0 1 3
32,1 52
8 1 ,6 3 0
9 3 .8 7 9
13,322
L ex"g ta n & E a st- F e b r u a r y .
2 0 .8 6 0
1-1.655
3 2 ,1 4 2
L o n g I s l a n d . . . . M a rch .......
2 33 ,92 8
6 23 .35 1
0 3 1 ,2 1 9
2 3 9 ,6 0 8
Lob A n y. T erm M a rc h .......
17,741
7.374
6.589
2 3 ,8 6 0
L ouis.E v.A -S t.L Ith w k A p r
4 3 0 .4 8 2
3 3 .6 7 3
3 8 .5 8 4
4 5 8 ,8 5 6
L ou. H . & S t L.c tth w k A p r
i'U ,0 0 7
1 40 .47 3
142,703
<*10,628
LoulBV.&Nashv, 4 t liw k A p r 4 7 5 ,2 3 5
-178,106 6 ,1 3 3 ,4 8 6 6 ,4 2 0 ,2 2 8
M a c o n * B irin. M a rch .......
4,134
16,8 65
17,7 47
4 .9 2 2
M a n is tlq u e ........ M arch, ..
12,199
2 9 ,0 9 3
5 ,5 7 5
3 3 ,4 0 8
M em ohJs&Chas 3<i wk A p r.
3 8 0 ,2 5 1
19,1 85
398 ,77 4
2 2 ,5 2 0
[M e x ica n C e n t,. 4th w k A p r 3 52 ,78 8
2 6 8 ,8 8 4 4 ,3 7 6 ,9 3 4 3 ,2 7 9 ,7 7 7
M e x ica n Inter'l. M a rch ........ 2 9 1 .0 5 8
8 0 9 ,8 7 4
7 4 2 .4 6 7
2 6 2 .8 1 1
!M e x . N ational It.hwk A p r 1 3 0 ,9 8 4
1 17 ,39 2 1 ,9 0 0 ,7 3 3 1 ,5 8 4 ,1 3 2
M ex . N orth ern F e b ru a ry
7 3 ,2 2 9
1 0 9 ,4 * 4
149 .17 7
56,0 06
3 6 ,5 0 0 1 ,0 8 5,50 0
I M e x ic a n R 'w a y Wk. A p r 17
9 0 7 ,0 0 0
6 8,o0 u
2 0 9 ,0 3 9
M e x ica n So
8 ,5 0 7
1 5 5 ,59 3
2d w k A p r.
1 4 ,9 2 0
M in n eap .& S t. L. 4th wk A p r
5 5 2 ,7 5 0
4 0 ,3 2 0
5 9 4 .7 1 8
3 8,6 06
• 9 7 7 ,59 3 1 ,0 4 7 ,3 3 1
M . St. P.& S.St.M . Ith w k A p r
7 4 ,8 3 2
9 8 ,8 5 2
Mo. K an. & T ex. ith w k A p r 2 7 ,3 3 4 2 3 3 .4 8 3 3 ,5 1 4 ,1 2 7 3 ,7 0 8 ,3 6 8
M o .P ao.& Iron M 4 th w k A p r 631,001 ' 5 9 7 .0 0
7 .0 9 4 .0 0 0 6 ,9 4 2 ,7 3 0
3 2 -.00
Oenteal B r’ clt. ith w k A p r
2 3 ,0 0
2 2 8 ,9 2 0
2 5 .0 0
7.423.001
T o t a l............. 4th w k A p r 6 5 8 ,0 0
6 2 0 .0 0
7 ,1 7 1 ,6 5 0
9 7 ,6 1 1
8 5 ,3 3 2
M o b i l e * B irin.. 3 d w k A p r .
4 ,6 0 3
5 ,502
2 7 3 ,1 6 2 1 ,2 4 5 ,3 0 6 1 ,1 5 1 ,2 2 2
M o b ile * O h io .. A p r i l ........
2 7 2 ,0 'S
3 5 l,i4 3
M on t.& ,M e.x.a il M a rc h .......
1 0 4 ,0 3 ’
2 95 ,67 1
1 3 s,0 8 5
N ash.C h .& St. L, M a rc h ........
4 0 4 .9 1 3 1 ,2 4 9 ,2 3 7 1 ,2 8 7 ,8 8 0
4 1 5 ,20 4
Nel, & Fr. S h’ pM F e b r u a r y .
’
19,1 29
5,00(1
9 ,2 4 7
9 ,3 7 5
5 .486
N eva d a C entral. F e b r u a r y .
3 ,6 3 8
2,811
1.911
S .Y . G . * H. R ., A p r i l ......... 3,5 0 4.80 8 3 ,4 1 2 .8 1 - 1 3,0 3 8 ,2 3 3 1 3 ,6 9 0 .7 5 9
n , y . o u t . * w . . ith w k A p r
9 3 .0 8 3 1 ,1 0 8,82 2 1 ,0 5 5 ,0 0 2
8 8 .1 2 N. Y .S u sq. * W .. M a rch .......
48 -.793
488 .93 1
166,268
162,517
N o rfo lk * W e st *: I) wk A p r 1 8 1 ,23 5
2 4 ,8 7 7 3 ,3 3 1 ,5 1 0 3 ,7 6 9 ,8 8 9
11 177
1 2 ,0 6 0
N ort,h es'n (G a .). F eb ru a ry .
6 ,8 5 5
5 ,7 4 8
N orth 'll Ceutral M a rch ____
5 1 4 .9 5 7 1 ,580.458 1 ,4 6 8 ,9 4 4
5 0 5 .9 4
N orth'll P a cltlc 3 d w k A p r . 2 9 6 ,5 8 3
2=9,075 4 ,1 5 4 ,9 9 i 4 ,5 8 8 ,7 6 5
«,1 1 0
5 .8 9 2
O co n e e * W est. F e b r u a r y .
2 ,9 3 6
3 .4 9 o
303 ,08 1
ia,op 6
2 08 .67 7
O hio R iv e r .......... ith w k A p r
16,835
5 2 ,5 8 9
5 4 ,0 7 9
17,730
Ohio R iv .A Chas M a re h .......
18,762
2 1 3 .4 4 9
2 5 1 ,9 9 6
O hio S o u th e rn .. A p r il.........
59 874
5-1,697
2 7 ,2 »7
O hio V a lle y ____ J a n u a r y ...
27,287
4 5 7 .4 7 0
4 7 1 ,1 0 5
O re g o n ruip. Go. F e b r u a r y . 2 1 4 .7 8 3
2 2 6 ,9 6 0
O reg. K R .* N a v . A p r i l.........
2 7 5 ,9 3 5 1,1 7 9,31 9 1,227.509
3 1 5 ,3 7 5
9 9 9 .3 2 7
P a cific M ail____ M a rch .......
3 51 .9 *7 l , i 3 3 779
413 .89 1
5,'. 6 4
P e n n sy lv a n ia . . M arch. . . . 5 ,'.6 1 .7 3 2 5 ,2 5 3 ,9 3 2 1 1 ,3 0 6 ,6 3 7 1 4 ,8 9 3 ,7 3 ?
19jrtia
2 -2,04 5
2 7 5 ,9 0 3
P e o ria D e e .A E v , 1th w k A p r
16 956
1 3 7 ,19 0
1 4 1 .4 4 0
P e te rsb u rg ......... M a rch .......
4 9.4 99
5 2 .7 9 6
5 3 5 ,4 2 9
5 3 5 .7 7 7
P hiia. A E r ie .. . . F e b r u a r y . 2 8 0 ,5 7 2
2 4 0 ,6 8 2
4 ,5 8 1 ,0 1 2 4 ,7 5 3 ,4 9 3
Phila, * R e a d .. M a r c h ..... 1,5 4 8,48 2 1 .6 9 4 369
G oal A Ir. C o .. M a rch ........ 1 2 5 6 099 1,603 747 4 ,4 6 0 ,3 6 d 4,961.539
T ot. b o th C o's. M arch. .. 2 8 0 4 .5 8 1 3 ,1 9 8 ,1 1 6 9 ,0 1 1 .4 0 2 9 , 7 1 5 / 3 2
133 ,10 1
158,298
Pk. Read. & N .E . M arch.
48 575 5 7.7 17
6 72 ,70 7
P hil. W lim . A B. M arch. .
7 7 - ,7 0 7
P itts. C .C .A S t.L M a rch ....... 1,1 3 6,23 3 1 ,210,284 3 ,2 8 9 .9 -6 3 ,6 2 4 .0 5 5
10 334
11,806
3 ,3 7 6
P itts.L isb .& W ’ n M a rch .......
4,104
1 4 0 .1 1 7
1 1 0 ,06 7
45,3 51
Pitta. Sh. * L . E. M a rch .......
41.801
4 9 3 ,0 1 5
4 6 1 .6 4 8
4 5 ,4 4 8
P ittsb. * W es’ u 4 th w k A p r
-j 5,S 01
2 5 2 ,7 7 7
2 2 0 .8 3 3
2 .,5 2 6
P itts. Cl. & T oi. 4thw k A p r
2 1 ,0 2 2
6 8,6 41
6 7.6 >8
8 ,2 4 9
P itts. P a. A F . Ith w k A p r
7 6 ,3 3 6
819 367
7 6 ,2 2 3
T o ta l s y s te m ,. tth w k A p r
7 5 ,3 8 6
196.721
233 413
90.9 51
Pitt. Y o u n g .* A. M a rch ........
8 1 ,1 3 4
7 2 ,1 4 3
6 7 ,7 4 0
2 5 .7 7 8
Q u in cy Q . « K.C. M a rch .......
2 5 .9 3 6
1 0 9 .61 5
8 8 .5 4 9
5 4 ,7 6 7
R ich .F r'k a b * P . F e b r u a r y .
4 9 .9 c 5
8 3 ,2 1 4
7 8 ,1 9 4
2 8 .5 7 2
R lo h .A P e te r s b . M a rch .......
2 9 .9 5 6
1 /9 .7 3 6
105 5 34
1 0 ,6 2 0
R io Q r . S ou th ’ n . •Ithwk A p r
9 02
6 2 3 . 24
6 1 4 ,2 1 5
4 9 ,7 0 0
R io G r’ d e W e s t . 3 d wk A p r.
4 4 ,3 0 0
92,1 83
9 2 ,1 4 8
2 2 ,8 0 9
8t,.L. O h.A S t.P . A p r il.........
19,173
13,1 55
14,6 06
4 870
8 t.L .K e ii’ et& 8o. M a rch .......
3 ,7 8 5
5 1 5 .0 1 5 1 .4 1 1 ,3 3 3 1 ,4 9 1,31 1
S t.L * 8 a n Fran. M a rcn ........
5 2 6 ,7 5 5
1 .5 4 8 ,0 4 8
100,200 1 ,4 2 5 ,7 0 0
8t- L. S outhw est. -ithwk A p r
1 0 1 ,3 0 0
2 9 1 .58 7
2 7 6 .8 7 2
103 938
S t P a u l A D u l.. M a tch .......
9 9 ,0 b 0
3 9 7 ,6 7 0
4 2 5 ,2 4 6
120 369
Sau A n t. A A .P . M arch.......
1 4 1 ,9 0 4
146 978
1 3 7 .39 2
49,724
San F ra n . A N ,P . M a rch ___ _
4 9 .4 9 4
5 7 5 ,3 4 2
5 8 8 779
Sav. F la.A W eat. F e b r u a r y .
2 6 7 ,6 7 0 2 8 5 ,1 3 0
68 926
7 2 406
0 .1 5 5
8h er.S h rev.A 8 o. 4thw k Molt
8,941
3 0 .4 4 2
2 2 .6 8 0
14,9 66
1 0 ,5 2 9
Sil. Bprs, O. A G. F e b r u a r y .
7 7 ,1 4 0
5 2 ,2 0 0
12 471
a i l v e r t o n ........... D e ce m b e r.
8,551
9 5 ,7 4 9
1 1 6 ,6 0 7
So. Oar, A, G a . .. M a rch ........
"•1.904
’ *3,63$
1,487
So. H a v e n * Hast M a rch .......
1 ,9 3 0
S o . P a cific Co.
3 6 0 ,4 3 3
7 2 5 .8 3 3
348,302 3 8 5 .8 7 0
G a L H a r.A 8. A F e b r u a r y .
1 7 2 ,8 2 8
173 297
7 0,3 31
85,860
L o u is’ a. W est. F N irtta ry .
9 0 4 ,6 1 4
868,201
401 0 1 5
M o r g a n ’ sL A T . F eliruary , 421.038
2 9 .3 7 2
43,9 74
13.6 27
20,177
N .Y .T . A M ex . F e b r u a r y .
2 .8 .4 0 1
2 60 ,01 3
1 23 .9 L8 1 00 ,29 5
T e x . A N . O rl.. F e b r u a r y .
A tl. P rop 'toR .t F tb r u a rY . /1 0 t 0 6 9 2 7989,077 r 2 ,0 « 0 4 5 0 f2 .2 3 0 5 6 4
P a cillo syBtant F e b r u a r y . 2.1 2 7,65 7 2 .4 6 4 ,3 8 2 4 442 082 4 ,8 4 7 87
T o ta l o f a l l./ B ir c h ....... 3 ,9 1 3,51 1 3 ,7 4 1 ,8 8 5 10,7 15 457 1 1 ,0 6 9 .3 8 0
8 30 ,04 3 1 ,3 8 1 ,9 9 2 1 ,6 2 9,14 1
So. Pao. o f Cal. F eb ru a ry . 0 52 ,45 6
4 3 7 .9 8 4
415,01-4
220,* 17
8 o .P a o .o f A m . F o b rtta ry . 203.011
2 0 9 ,96 3
2 0 6 .3 3 5
1 06 ,91 9
103.038
8o.P nc.ofN .jM , F e b r u a r y .
3 1 0 .5 4 7
2,-5 ,9 7 3
138,659 1 56 ,56 7
N o rth e rn K y .. F e b r u a r y .
6 ,3 1 7 ,5 9 1 6 ,1 0 0 .8 0 4
412,347 4 26 ,69 8
S outhern R y . . . . dtiiwk A p r
9 2 ,8 0 »
5 1 ,7 8 3
4 0 ,1 4 9
2 0.0 05
S p o k .F T s & N o r. F e b r u a r y .
7 6 ,5 4 6 1 ,078,657 1 ,1 0 6.13 2
7 7.0 17
S taton I.R a p .T r. N ,v e m b e r.
2 ,107
1 .1 7 4
995
098
F iib ru a ry .
S to n y Cl. A C.Mt,
2 4 2 .8 1 0
2 0 5 ,7 0 6
8 8,4 36
60.017
S u m m it B ra n ch . M a rch ........
2 26 356
2 0 6 ,1 3 5
7 5,8 79
6 1 ,0 3 6
L y k . V aL Coal. M arch........
4 6 9 .19 6
4 11 ,84 1
1 6 4 .3 1 5
1 28 ,28 3
T o t ’l b o th C o ’ s M arch........
73,809
65,031
4 ,7 4 0
4,230
T e x a s C e n t r a l.. 3d w k A p r.
2 ,0 5 9,97 5
1 29 ,98 2 2 ,1 3 0 ,2 0 0
153.011
T e x a s * Pacttlo. Ith w k A p r
8.072
8 ,8 9 5
2 ,2 3 7
3,041
T e x , S .V .& N.W . March.......
576,365
5 2 5 ,5 6 6
4 7 ,7 2 0
8 0 ,2 5 8
T o l.& O h !o C e n t. Ithw k A p r
303,826
2 6 0 ,8 9 4
18,675
15,720
T o i. P . & W e s t .. 3d w k A p r.
610,817
6 9 1 / 73
4 8 ,8 5 2
49.263
T o l.S t .L .& K .C , Ith w k A p r
865.587
6 5,0 68
9 55,511
70,390
U n ,P ,D c n ,& G ,. 3d w k A p r .
O n io n P a c illo —
9 2 5 ,4 0 7 1 ,9 8 7 ,8 4 0 1,862,796
O n io n P .R R . F t h r u a r y . 9 8 6 ,0 9 7
750 ,28 3
7 5 2 ,7 7 6
O r ,S .L .* 0 .N . F t b r u a r y . 354,867 3 6 3 ,5 8 3
197,218
3 5 4 ,4 5 3
12,200
19,7 00
I th w k A p r
St. J o s. A Qr.

1

4

8,860

[H E
L a te s t G ro ss W a r n in g s

Ro a d s .
Week o r M o

1897.
9

Un. Pao.—(Con.)
Cent. Branchs
Aoh.Col.dzP. /
Aoh.J.C.&WC
Cen.Br.dzL’dL.
Gr’d total.*<

Jan.

| 1896.

'

$

1 to

UHRU1MULL

L a te s t D a ie .

1897.

$

1897.

1896

In erea s

1896.

$

3 d w eek o f A p rils

mw

329,000
4th wk A pr
25,000
21,000
228,920
February .
39,603 • 22,704
72,653!
48,209
90.52
F eb ru a ry .
53,953
169,077
116,291
February . 1,685.817 1,501,333 3,368,440 3,046,962
4thwk Apr 272,238 313,*- 03 3,512,610 3,884 545
W abash ___
18.489
20,977
33,638
40,015
W a co dz North** February .
416,387j
164,v 86 158,011
42 2,149
W. Jersey ASea’e M arch.......
97,607 lu2,971
273-572
259.794*
W. V.Cen.dzPlct27,144
27,14l|
27,533
27.513
West Va.& Pitts January...
56.220
47.93
113.435
99 ,7 -8
Western o f Ala. F e b ru a ry .
63 9 JO
69,700
818,096'
851,019
Wesr.N.Y. & Pa 4thwk Apr
43.3391
321,953
29,8 3
400,863
W heel. dz L. E rb tthwk Apr
80,829 106,285! 1,235,439 1,226,415
Wisconsin Cent 4thwk Apr
6,419
Wrlghtsv.dzTen March.......
9,937
22,348'
27,70 )

' fig u res given do not lnolude Oregon Ry. & N av.,U n. Pao. D e n v er*
G olf, Denver Leadvllle dz Gunnison, Montana Union and L eavenworth
Topeka * South vestern. a These figures include results on eased lines.
b Inoludes earnings from ferries, etc . not given separately. 1 M exi­
can ourrencv. c Inoludes on ly half o f lines in w hich Union P acific has
a half Interest*
d Inoludes operations o f the Ohio. Burlington * Northern in b oth
years.
§ Oovwrs reaulra for 'tnes dir«ctly operated east o f Pittsburg
e The earnings for the fourth week o f A pril in 1893 w ere $10,411.
f Covers o«:41
lies the All iuiio System tti •idoustoa ji Texas C e n tra l,
Austin * North western. Central Texas jz Northwestern and Ft. W orth
A Sew Orleans.
t Includes St. Louis Alton * Terre H mte for all periods.

Interooeanio (M ex.).*___
Keokuk & w e s t e r n ..........
Loulsv. Hend. & St. L ...
Mexican R a ilw a y ..........
Rio Grande S ou th ern ....
Texas C entral..................
Toledo Peoria & West’n..
Un. Pao. Den. & G ulf___

48.410
6,426
8,091
68,000
6,460
4,230
15,720
70,390

41,056
7,760
9,332
56.500
8,582
4,740
18,675
65,664

T o ta l (84 r o a d s ) . ..
Net in cre a s e (1*85 p. o. .

6,418,072

$
7,354

6,301,193

’i l ’, 5*00

” 4,722
385,950
116,570

D ecrea se.

$
1,334
1,251
2,122
510
2,955
269,371

* Week of April 17.
F o r th e m o u th o f A p r il 82 r o a d s (a ll th a t h a v e fu r n is h e d
sta tem en ts fo r t h e fu ll m o n th a s y e t ) s h o w a g g r e g a t e r e s u lt s
as fo llo w s :
M on th o f A p r i l .

1897.

1896.

In crea se.

$
$
Gross earnings (82 roads) 31,009,276 30,462,998

P e r C en t.

$
537,278

1-76

It will be seeu there is a gain on the roads reporting in the
amount of $537,273, or l -76 per cent.

Net Earnings ttoathly to Latest Dates.—The table follow ing s iows the net earnings of Steam railroads reported this
wees. A full detailed statement, including all roads from
winch monthly returns can be obtained, is given oncea month
in these columns, and the latest statement of this kind will
Latest Gross Earnings by Weeks.—The latest weekly earn­ be found in the Chronicle of April 17, 1897. The next will
appear in the issue of May 22,1397,
ings m the foregoing are separately summed up as follows :

For the fourth week of April our preliminary statement
Roads.
o jvers 60 roads, and shows 3'59 per cent increase in the Ann Arbor..... ........... Mar.
aggregate iver the same week last year.
Jan. 1 to Mar. J I .......
4 th w eek o f A p r il.

Alabama Gt. S outhern..
Atlantic & Danville —
Balt dz Ohio Southwest..
Buttalo Rock. Jj P lttsb’g.

Chicago dz East. Illinois.
Chicago Mllw. * St. Paul
Chic. < West M ichigan...
fe
Oln. Jackson * Mackinaw
Olev. Cm. Chio. * Ht. L .
Clev. Lorain * Wheeling
Denver At Rio Grande—
Detroit Or. Rap. dz West.
Kvansv. a Indianapolis.
Evansv. A T erre H aute..
Ft. Worth At Deliv. City.
Grand Rapids dz Indiana
Cin. Rich. & Ft. Wayne
Mns. Gr. Rapids dz*Ind.
Chic. A Gr. Truuk........
Det. Gr. Haven At Mil..
Cin.Sag. dz M ackinaw..
Tol. Sag. A M uskegon..
In tern ’l dr Gt. North'n ...
Iow a C e n tr a l...................
Kanawna A M ichigan—
Kan. c ity Bittsb. dt Gulf
Kan. City Suburb. Belt...
Lake Erie A Western . . . .
Loulsv. Evansv. dz St. L.
Louisville Heud.dc St. L.*
Louisville A N ashville...
Minneapolis * St. Louis
Mina, 8t. P. & S . 8. M ....
Mo. Kansas dz T ex as.......
Mo. Pacific dz Iron M t___
Central Branch.............
N. Y. Ontario dz Western
Peoria Deo. & E v a n s v ...
Pittsburg At Western.......
Rio Grande Southern___
St. Joseph dz Gd. Island.
St. Louis Southwestern..
Toledo dz Ohio Central..
Xol. 8 L. & Kan. C ity...
Wabash. . ................ .
West. N. Y. < Pennsylv
k
Wheeling A Lake E rie...
Wisconsin Central____ _

1897.

1896.

8
34,080
31,840
9,471
134,252
81,598
467,000
104,052
277.473
72,019
742,048
33,790
l* ,3 ll
342.530
39.58.
164,101
24,633
7.247
26,279
20,008
45,065
10,250
782
2,625
429,8469,060
22,968
3,054
2.634
93,072
29,798
10,327
61,497
11,901
85.081
33.673
10.628
475.235
352,788
136,984
38.606
98,852
237,334
631,00u
25,000
88,129
181.235
10,835
14,956
75,386
9.027
19,700
101.300
442,347
153,641
39.258
49,263
272.238
63,900
29.823
80,829

$
30,708
2-(,549
10.791
146,754
84,711
409.000
97,172
253,027
80,250
716,785
32.362
16,73s
318,801
47.047
170,900
26.528
7,628
27,211
19,890
52,929
12,095
1.199
2.415
464.231
81,209
22,891
4,054
l,6b 2
60,323
42,286
12,010
16,764
6 .7 9 4

94,598
38,581
13,007
476,406
266,8 }4
117,392
40,320
74,832
233.483
597,000
23,000
93.083
214.877
19,056
19,618
76.223
10.620
12,209
100,200
426.698
129.982
47,720
48,852
3 L3.603
69.700
43.339
106.2 35

In crea se.

$
3,372
3,291

58.000
6,880
24,446
25,263
1,428
1,573
23,727
2,105
118

210

D ecrea se.

$
1,320
8,504
3,113

8,231

7,460
6,800
381
932
7,861
1,845
417
34,385
12,149

77
972
32,749
44,733
5,107

1,000
12,488
1,683
8,917
4,911
2 ,3 7 9

85,901
19,592

3,171
1,714

2 1 ,0 2 0

3,851
34,000
2,000

4,954
33,»42
2,221
2,662
837
1,593

7,500
1 .1 0 0

15,649
23,659
411

8.462
41,365
5,800
13.516
25,456

Total (60 roads)............
Net Increase (2 59 p. o .i.

7,196,845 7,015,280
270,172
451,737
............
181,565
------............
4 The earnings o f this road for this period In 1895.were $10,411.

For the third week of April our final statement covers
84 roads, and shown 1*85 per cent increase in the aggregate
over the same week last year.
3d

w eek o f A p ril.

P r e v ly reported (71 r-d*)
Des Moines dz Kan. City.
Grand Trunk—
Chicago A Gr'd Trunk.
Det Gr. Hav. A Milw..
Cin. Sag. * Mack..........
Tol. Sag. dz Musk...........

1897.

1898.

In crea se.

«

*

«
6,111,388
2,651

5,998,755
2,523

361,113
128

53,603
18,575
1.934
2,204

65,272
18.269
2,984
1,377

306

D ecrease.

8
213,480
11,669

827

1,050
............

■& ross E a r n i n g s . -----.

1897.
$
116,722
310,978

1896.
$
99,125
273,280

------ N e t E a rtu n g s.-------%
1897.
1896

Boat. Rev. B. dz Lynn—
Jan. 1 to Mar. 31.......
45,980
47,310
Cent, o f N. Jersey.a.M ar.
893,214
934,049
Jan. 1 to Mar. 31....... 2,597,369 2,765,166
Ohes. & O h io .a .........Mar. 1,036,553
812,700
Jan. 1 to Mar. 3 i ....... 2,7 40,509 2,5 14,334
July 1 to Mar. 31....... 8,049,039 7,738,800
Chootaw Okla. & G. Mar.
79,117
73,603
304,219
Jan. 1 to M*r. 31.......
280,348
Nov. 1 to Mar. 31.......
542,569
521,144
172.176
Iowa C en tral.b........Mar.
131,237
596.979
Jan. I to Mar. 31. . . .
3 74,763
July 1 to Mar. 31....... 1,139,444 1,454.181
30,731
Jack. Tam. & K. W ..M ar.
32,558
Jan. 1 to Mar. 3 1 .....
87,532
89,930
Apr. 1 to Mar. 3 L.......
306,288
317,^78
364,583
Kan. C. Ft. 8. * M .a. Mar.
421,198
Jan. 1 to Mar. 31....... 1,170.589 1,133,116
July 1 to Mar. 31....... 3,515,744 3,535,211
Kan. C. Mem. dr B .a.M ar.
99,200
85,348
Jan. 1 to Mar. 31.......
317,894
300.848
952,203
July 1 to Mar. 31____
974,948
Laolede Gas-L. O o.... Apr.
Jan. 1 to Apr. 30.......
Loulsv. * N ash v.b..M ar. 1,694,952 1,580,930
Jan. 1 to Mar. 31....... 4,865,296 4,886,037
July 1 to Mar. 31....... 15.458.213 15,606,119
870,400
Mexican C en tra l.... Mar. 1,145,263
Jan. 1 to Mar. 3 1 ....... 3,226,389 2,468,959
Mex. International..M ar.
291,658
262.814
742,467
Jan. 1 to Mar. 3L.......
809.374
305,818
Minn.8t.P.dc8.Ste M .M ir.
270,075
789,535
Jan. I to M ir. 3 1.......
687,3 47
Newb. Dutchess * Conn.—
Jan. 1 to Mar. 31.......
28,273
31,110
N. Y. Central dz Hud.—
Jan. 1 to Mar. 3L.......10,133.425 10,233,911
967,310
Norfolk & Weat’ n .a..M ar.
938,516
Jan. 1 to Mar. 31....... 2 ,5 80,0-i0 2,940,797
5,645.746
Oct. 1 to Mar. 31____ 5,370,054
N. Y. Chic. & 8t. L .b—
Jan. 1 to Mar. 31....... 1,310,934 1,454,491
N. Y. Phil. & Norfolk—
194,181
Jan. 1 to Mar. 31.......
177,451
3 U .9 5 7
Pacific Mall............... Mar.
413,891
9*9,327
Jan. 1 to Mar. 31. . . . 1.133,779
May 1 to Mar. 31. . . . 3,764,003 3.392.147
57,717
Phil. Bead. & N.Eng..Mar.
48,575
Jan. 1 to Mar. 31.......
133,401
153,298
672,707
Phil a. Wilm. * B i l l . Mar. 771,707
Nov. 1 to Mar. 3 1 .... 3,337.406 3,487,606
Poughkeepsie & Eastern —
Jan. 1 to Mar. 34.......
7,146
8,380
33,379
Rio Gr’ nde South..b..M ar.
27,272
104,275
Jan. 1 to Mar. 31. . . .
77,793
373.350
Ju ly 1 to Mar. 31.......
306,436
181,153
Rio Grande W est.b ..M ir.
183,871
442,424
Jan. 1 to M ir. 31.......
517,345
July 1 to Mar. 31....... 1,811,851 1,841,444
126,369
San Ant. & Aran. P.,M ar.
141.904
397,670
Jan. 1 to M ir. 3 L.
425,246
July 1 to Mar 31. . . . 1,727,449 1,485,338
47,555
St. Jos. * Gd. Isl. b .. Mar.
99,290
144,081
Jan. 1 to Mar. 31.......
296,185
19,496
Texas Central............Feb.
18,183
Jan. 1 to Feb. 23.......
37,956
42,589
154,224
ToledodzOhlo Cent- b.Mar.
130,628
437,167
Jan. 1 to Mar. 31____
393,146
July 1 to Mar. 3L....... 1,318,03 3 1,508,958
Un. P. D .& G ulf b ..M ar.
269,509
2 14,998
Jan. 1 to Mar. 31.......
753,141
632.148
158,011
W. Jersey & 8eash’ e..Mar.
164,286
422.148
Jan. 1 to Mar. 31.......
416,387
238.014
West.N. Y.dz Penn. b.. Mar.
211,967
628,913
Jan, 1 to Mar. 31.......
814,196
July l to Mar. 31....... 2,285,333 2,449,429

*

47,850
103,568

$

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

1,504
2,583
259,414
272.578
770,589
841,828
283,166
268,713
781,348
735,310
2,652,017 2,461,326
16,393
15,766
74,019
60,721
167,302
108,018
40,974
7 ',428
111,756
20 2,6 7 q
333.139
574.51 8
8.039
853
13,789
1,005
18,968
d ef5,8 67
*128.560
108,997
372,003
330,046
1,140,652 1 ,0 8 s,986
21,111
7,820
81,964
60,147
235,639
199,977
64,858
50,063
289,970
266,486
519.646
461,175
1,538.975 1,658,657
5,070,228 5,543,099
401,514
329,427
1,111,424
866,713
121,724
97,304
326,572
279,443
111,712
135,099
227,167
274,608
2,465

3,166

3,246.149
319.282
761,015
1,533,381

3,254,583
190,683
624,098
1,261,674

213,076

198,879

16,417
117,549
247,571
767,141
17,357
42,764
200,418
769,514

26,449
75,903
175,236
805,157
23,758
40,629
127,218
723,714

def.2,956
9,881
26,856
133,814
52,926
143,392
588,831
10,507
60,761
601,937
46,699
126,675
1,016
4,467
40,352
115,877
347,255
89,920
244,449
28,171
42.563
127,653
111,524
743,725

418
13,538
44,873
197,182
59,990
160,393
735,000
19,357
86,741
475,978
9,655
25,124
3,2 50
8,271
48,185
133,822
492,974
43,660
132,430
9.425
11,874
75,904
1417777
664,614

I'H K (JHHON tOITE

8*4

Mftmiugs.-----■ * S el Earnings,--** —

I8##-T.
W i^ «.i*tV eW *L B ,»tar.
!» .,

181*5*0.

3 ••0.748

334,193

929 .32 1

! s„ MM . 81........

9 0 7 .1 5 2

JB90-?,

July i to Mur 31....... 3.163.918 8,2-2.093

1805-6.

122,481

93,772

2 8 7 .3 2 6

8 5 9 ,3 5 6

1,087,112 1,130,488

V set *aral ;
here *1Vr*n *rr f :e r deducting taxes,
Ik NV{ « n j i n o i her* sn-Mi ar»» b"ftir* deduetltiv lures.
■ t >•- i i n s „r March I r,elude #20.500 luouri-ed by fl >od d am ans*.
< T ’ --> »•,•<• a er,
to k si'fiiw -k ft d u e la r g e ly to # * , endlture* fo r
e e * t tree tie » » d d ock iu B tiA tlo an d la rg e o u tla y s o n eq u ip m en t.

i n ie r e s t C h a rg e d a n d S u r p l u s ,— T h e f o f i o w i n g r o a d s , i i
ad d . u o n to th e ir g r o s s a n d n e t e a r n in g s g iv e n in th e f o r e g o i n g ,
sJ - re p o r t ch arg aa f o r in te r e s t, & c ., w it h th e s u r p lu s o r d e fic it
• h ov e o r b e lo w th o e e c h a r g e e ,
- I n t e r ’ !, ren tal!, do.— ^-Bai. o f Net Earns —
.

1897.
B&Oitt

1896.

1897.

$

$

$

#

C bar.okL

1896.

19.000

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

def.2.602

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

0 5 /'O O

N or 1 to Mar. 31. . . .

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

7 2 ,3 9 2

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

144,346
d o f.1.200
7,074
*1.272

74 223
d ef.6 -4

K m e. Ft n AM ...M ar.
119,968
July ! to Mar s i. ... 1.018.700
K*c. f Mt-tu. A Htr..Mar.
15.735
141.293
July l to Mar. 31 ......
M e O r a c le «ooU i. ...Mar.

July 1 to Mur. 31......

T o le d o A O .O i i t ___ Mar.
inly to Mar. 31......

1

118.598
1.03-.732
15,832
125,754
14,222

11,081

126,740

128.004

39,458

40,083

315.182

351.098

8,592 def.9.591
91,862
50,251
5.876 def.8.012

*9,466

69,178
*8,362

*150,523

* Attest allowing for other Income reoei ved.
8 T U E E T R A IL W A Y S A N D T R A C T IO N C O M P A N IE S
1 he f o llo w in g t a o le s h o w s th e g r o s s e a r n in g s f o r th e la test
p e rio d o f all s t r e e t r a ilw a y s fr o m w h ic h w e a re a b le t o o b t a in
w e e k ly o r m o n th ly r e tu rn s. T h e a r r a n g e m e n t o f th e ta b le lft c e sa m e a s th a t l o r th e s te a m r o a d s — th a t is, th e first tw<
c o lu m n s o f fig u re s g i v e t h e g r o s s e a r n in g s f o r th e latest
w eek o r m o n th , a n d th e last t w o c o lu m n s th e e a r n in g s fo r
the c a le n d a r w a r fr o m J a n u a r y 1 to a n d in c lu d in g s u ch latest
w eak or m on th .
STREET RAILW AYS AND T R drrriO N COMPANIES.
L a test B rats E a rn in g t.
’ Gnoeit
K A xa x soa .

W eek o r Mo

a ir c n B e d fd A Olev. March.......
Akreu st.R y,A 111. Co December.
AjD*ierd»o* St, B y .. February.
Anderson Cl. St. By March.......
Atlanta H allway..— March.......
Baltimore T raction.. M arch. —
Bath St. By. (N. Y .I.. M arch.......
Bay Citle* Ctiniol— .M arch.—
Btrmnamion St. B y.. M arch.—
Bridgeport Traction A p ril.........
Brockton Con Bt. By. IMarch.......
Br’ klyn Bap.Tr. Co.— j
Brooklyn H eight*.. A p ril.........
JBr’ kiyn Qu'ta* < But. A p ril........
k
Total fo r ayateto . IA p r il........
Bait»: o B y...................December
...
«C T raction.. .. Miirvh......
Calc. A Bo. erne R.T. January...
City Elec. (Rotne.ua.) F ebru ary .
CSeveiand E lectric. . , i M arch...
CSeve. P alnev.A K ___\M arch ...
Colom bo* Bt. Bv. (O .t'3d wk Apr.
Coney W an d <* B’ lyu March—
Dan V. O m El. 1.1*lit A I
Street B y ................. .January..
Denver Con. Train w March___
Detroit CltTna’ SL By.] tpril
March.—
Detroit Eire. By

8

D n loth t, B y .............
E rie E ire, M otor C o . .
C a lv e * to o c i t y B y ..
H erk im er M ohaw k IIton A r U t o n E l.B y .
B w a tu t B y . . . . . . . . . . .
H o a r lo o K lee. S t B y .
In tem ta te Connol. ol
N orth A t t le b o r o ...
K lo g a too City B y .......
Leblc-h T r a c tio n .........
t o r d o n w By COM.)

1 89 7 .

1896.

8

9

5,379
6,335
18,968 2u,523
3,149
3,050
-1,349
4.397
6,237
6.158
95,723 87,267
1,398
1,266
8,44i
6 ,2 5 8
10,078
9,932
24,143 24.051
24,920 22.051

9,597
53,728
82,976
34,363
15,5iS

6,846

1896.
#
15,389
189,256
7,213

' i 6,037
270,326
3,783

'iis.m i
256,859
3,945

91,274
69,545

89,622
61,679

8,727
56,345
80,827
34,248
17,055

9,597
157,132

8,727
162,787
3 0 i,o 0 l
101,296
48,143
32,61s
39,o45

10,076

11.2 12

14,559

13,528

M a roh ...
M a r c h ...
M a rc h ...

3,720
515
14,220

3,667
563
15,099

10,644
1,483
42,293

10,415
1,573
43,351

M arch ,...
March___

9.523
3,915
7,855

9,238
3,853
9,166
5,7-6
20,790
43.610
3,332
97,46 x
26,269
4,761

26,843
11,197
24,510
19,586
83,031
525,150

25,431
11.225
27,882
16,167
79 647
529.937
10 982
372,070
76,933
14.119

M a r c h ....

6,82

M arch ....

29,779
43,117
,3.957
103,040
122,368
~ :*,91 9

Winchester A v „ ___March......... J14.89S

Flym’ Ui * Ktogiitmi March........ i

14,3 88

2.142' 2,004

T ota l...................... 'March..........! 17,0371 16,450
Sew London 8t. B y .. March......... ! 2,847; 2,611
.

S e w O rlean* T ra ction M a rch ! 117,017 109,013

S . Y. A Queen* f f y — February .

2 2 ,5 9 0 !.........

North - re Ti
- !on!4tbW fe A pr. 31,427; 30,037
OgdenM -urg S t B y .
M a rch ....... | 1,042
783
Fat*r»nn B y . . . ........... (M arch . . . . . 2 3 ,9 5 6 2 3 ,6 4 4
H t t-li F t.R ob F.1.B). M a rch ........;
2,643|
1 ,347
JVIrr-epeie A W app. F. .March........I 5 ,5 1 6'
"
5.448
t h e - r Hv-............. F e b r u a r y .' 62,2 87 68,783
• eba ytkin T r a c tio n .. March.......
095
0.931
Bohuyfkili V aLTrm o M a rch ____
2 .8 5 2 '
2,540
S cra n ton A C a rtm n d V 'M a reh ,. . . . ;
331'
•ermstoR A P lttow n . M arch . ..
4,845
•kiraatoo K ellw av
M arch. . . . 2 7 ,3 4 9 251.523
nd A v e. (F ftteb.l S tarch....... (7 1 .5 5 6 169.168
• yra e n **K «t-BtdeBy. M a rc h ..
2,603;
2,813
M f e ®«» B ap. T r. By. M arch.
33.961 35,226
T erre H a u te Ki*<-. B y .'M a rch .
11,501 11,496
T hird A r e . IS . Y ,)....(M a r c h .

6

. . . . . . . . .March

W heeling Beltway.
W|ike.». r u ■ihciude#

S
17,046
210,247

378,742 380,289 1,381,698 1,363,338
60,81! 59,627 217,670 206.282
439,553 439,916 1,599,36- 1,569,620
1,369,227 1,327,774
38,340
13,519 13.731
3 s,683
56,0u«
56,609 65.871
65,871
1,344
2,870
1.432
2,792
132,27-. 128,283 371,963 372.667
5,859
14,901
11,008 11,763
61,943
21,546 20,129
60,930

M a rch ___
M arch. ..
-Ma rch -----

M ontreal Street By. IA pril
Ifcca cn E lec. (BTtJ yn >]M arch.
S e w b a r g h K ie o fr lc .. M arch.
I t * £ n * la n d B t —

T w in O tjr B ap . T ra n
Ur.w.n i s . B M fotrd l,..
U nited T ra ct. iP ro v .
Vtttt, Trms. i B ca d iok
W »k«;fieS44t .-t o n e .,,
W a te rb a ry T ra e a o p .

1897

325,341
99,145
42,56'
29,450
44,17;.

Dowell Law. A H av.. M a rc!.......
M etrop , (E anaa* C ity I ■tttiwk A pr
M on tg om ery Bt. By ; March.......

XWPF'tO

J a n . 1 to Latest Dati.

March.
M arch .

March.......
M arch. . , . !
It aroh. . . .
M a rch ,___ :

March____

73,892 74,094
16.7 05 18,781
,
_
130,282 130.946
12.016 12,181
3 , h37
3 ,297
1 8 ,4 6
18,152
12,5 30
13,417
S7 (|*| S « 7 « X

1

11,526

392,076
334.351
13,711
42,076
6,040
48,116
7,968
316,385
46,921

42,681
6,096
48,777
7,712
330,822

2,981
69,05
7,773
15,881

2,490
69.122
4,058
16,043

2 i,08B

22,164

|vo l . LXIV.

Street Railway Net Earnings.—The following table gives
the returns of Street railway gross and net earnings received
this week. In reporting these net earnings for the street rail­
ways, we adopt the same plan as that for the eteatn roads—
that is, we print each week all the returns received that
week, but once a month (on the tbiid or the fourth Saturday)
we bring together all the roads fum isbiig returns, and the
latest statement of this kind will be found in the Chronicle
of April 17, 1897, The next will appear in the issue of May
33, 1897.
- Gross Ecvtnxngt.— %
/-— Nrt Ear nings.------.
1897.
1896.
1897.
1806,
Roads.
$
s
$
$
Central Croestowu (N. Y .l—
Jan. 1 to Mar, 31.......
134,477
134,911
37,465
35,259
D etroit Clt Issens’at. By. Apr. 82,976
82.976
80,827
37,823
34,210
Jau. 1 lo A pr, 30.......
325,341
301,001
114.050
147.445
G en eva W aterloo Seneca
Falls & Cayuga LakeTr.
10,500
Jam 1 to Mar. 31. . ..
2,503
092,462
Jan. 1 to Mar, 31____
139,494
T hirty-fourth St. Orosst’n (N. Y.)
4.
Jau. 1 to Mar. 31. . . .
7 a ,018
T roy City R E .—
108,200
Jam 1 to Mar. 3 1 .___
2eth & 29ih Sts. Croest'n (N. y .)—
;. Y.)
Jun. 1 to Star. 3 1 .......
13,820
Utica Belt Line St. R R .—
35,682
J an . 1 to Mar. 3 1 ........
Wilkeab.A Wy. Vv.Tr.Mar.
37,961
111,829

A N N U A L

R a il r o a d s

and

M i s c b l . C o ’ s.

Volume 64—
Page.
American Bell Telephone.........
707

Canadian Padlfle...... ................ . . .. 752
Chicago Burl. & Quincy... .733, 752. 75S
Electric Storage B attery........ .
841
Flint & Per© Marquette........ . .. . 796
General Electric C o ..................841, 8*8
Mexican Central................B27,839, 845
Oregon short Line R R .....................841
Pitt. Cin. Chic. & St. L .....775, 70S, 801
St. Joseph < Grand Island .. . . . . . . 841
&

907,117
223,905
449,373
47,588
378,49y
34,272
10,346
54,008
36,63.9
1 U . “ 29

584.541
221,416
458,516
45,877
387,595
36,446
9 ,5 18
56,201
37,073
1 it,9 8 3

778,593

175,023 def,30,835
73,299
113,977

26,066

41,912
42,478

39,023
50,150

3,056
38,650
36,791
111,083

—

8,502
19,741
56,663

13,784
18,354
56,406

R E P O R T S .

R a il r o a d

a n d M is c e l .

Volume 6*4—

C o ’ s (O on .)

Page.

S u n d a y C r e e k C o a l ...................

797

840

Union P a cific.....................

St r e e t R a i l w a t s .
V o lu m e 6 1 —
P age.
Akron St. Ry. A Ilium ........ ......... 007
607
Baltimore T ra ctio n .............
Louisville R y
...........................
4rt6
Twin City R. T. Co. (Minneapolis). 704
Wlkesharre & W yom ing Val. l rac. 607

Southern Paelfle Company,
( R e p o r t f o r th e y e a r e n d in g D e c . 31, 1896. J
sub st quent pages of to-day’s Chronicle will

Upon
be found
extracts from the report of Mr, C, P. Huhungtoru the Presi­
dent of the Southern Pacific Company, for the fiscal year
ending Dec. 31, 1896, including the balance sheet and ex­
tended tables of earnings, etc,—V. 64, 710.
Central Pacific Railroad.
( R e p o r t f o r the y e a r e n d in g D e c em b e r 31 , 1896. J

Abstracts of the annual report and the President’s remarks,
together with the balance sheet, will be found on subsequent
pages.
From the Southern Pacific Company’s report we have the
Central Pacific earnings and income account for 1896, which
are compiled for the Chronicle as follows, iu comparison
with previous years.
E A R N IN G S A N D E X P E N S E S .

Miles of roa d ........................

1896.
1,360

E a r n in g s —

1895.
1,360

1894.
1,360

$

$

$

Passengers*....................... 4,793,912 4,813,998 4,845,735
F reight .............................. 7,193,855 7,724,197 7,710,461
M iscellaneous....................
-166,183
425,132
466.774

1893.
1,360
$

5,545,750
8,226,998
488,477

T ota l.............................. 12,453,952 12,963,327 13,022,971 14,201,225
E xp an ses—

M aintenance o f w ay , e tc. 1,476,658 1,623,258
M aiutonaoee o f e q u ip .__ 1,336,864 1,339,478
T ransp ortation................. 4,030,259 4,293,777
G en eral...............................
915,180
889,071

1,672,956 1,630,165
1,220,324 1,244.750
4,370,113 4,099,204
905,465
947,772

T ota l.....................
7.758,961
N et earnings...................... 4,694,991
P. c. o p e r.e x p . to eartt’ gs, 62-30

8,163,858 8,521,890
4,85-1,113 5,739,335
62-72
5970

8,145,584
4,817,753
02-84

'In c lu d in g m all and express.

The operatic ns under the lease and the results to the South­
ern Pacific Co mpany, leasee, for the years ending Dec. 31
were as follows :
1896.

75,437
131,234
8,161
101,295

952,057

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

E a rn in g s—

13,722
78,910
131,299
7,443
96,155

1,879,571

Second Ave. RR, (N. Y.)—

$

1895.
$

1894.

1893.

$

$

Railroads, steamers, et.o.12,453,952 12,963,328 13 ,022,97114,261,225
Rentals, e tc .......................
73,132
82,329
95,274
58,683
T ota l............................. 12,527,084 13,045.657 13,118,215 14,319,908
Operating expenses, ete.* 8,355,594 8,760,489 8,723,238 9,204,557
Interest OH funded debt . 3,291,150 3,333,102 3,353,026 3,293,678
............ ....
185,000
185,000
235,000
Siuk. fund re q u ire m e n ts 2 3 5 ,0 0 0
599,70 L
584,775
643,390
644,574
U. 8 . requirem ents..........
111,787
267,181
237,354
Betterm ’ts and additions
146,492
T o ta l.............................12,675,810 13,214.335 12,973,652 13,535,191
Net profit for y e a r.......... ,01148,726 41168,078
144,593
784,717
575,283
B al, t o m a k e ud ren ta l,.
Rent pay. by So. Pac. C o....................
'In olu d es also tax es and rentals.

1,360,000

THE CHRONICLE,

Ma t 8, 1897.)
P R O F IT AN D LOSS.

1896.
$ 10,000
. 32,453,952
73,132
32,000

Receipts.
A nnual rental received from So
Gross transportation earnings.
Rentals...........................................
E xpress com pany’s c o n tr a c t...
Adjustm ent o f taxes- p aid ........
Interest on open accounts........
Miscellaneous investm ents-----In t. from investments o f co.’ s s
Land grant a c c o u n ts .................

14,951
18,216
522,179
245,423

1895.
$ 10,000
12,963,328
82,329
32,000
10,771
79,784
1,170
511,059
297,282

.$13,369,854 $13,987,726
E xpenditures.
$8,145,584
Operating expenses......................................... . $7,758,961
117,806
R entals................................................................
125,754
342,321
351,041
Taxes on com pany’s p r o p e r ty ......................
Taxes assessed, but n ot due...........................
128,557
146,058
Betterments and additions.............................
146,491
237,353
Interest accrued on bonded d e b t .................
3,294,150
3,333,102
General adm inistration expenses.................
71.702
50 300
Administration expenses o f the land dept.
67,054
198,477
113,952
T axes on granted la n d s..................................
66,459
Requirements fo r sinking fu nds...................
235,000
235,000
Earnings from sinking f u n d s ........................
522,179
511,059
648 390
U. 8. requirement under Thurman A c t .......
644,573
Collections for account o f land grant acct
230,049
286,309
1,437
790
Refundments on canceled contracts............
Expenses o f trustees o f land grant m tg e ...
2,333
1,323
.$13,637,026
.
$267,171
. 2,183,713

$14,376,548
$388,822
2,572,536

Balance to credit o f profit and loss Dec. 3 1 .. $1,916,542
—Y. 64, p. 468.

$2,183,713

Lake Shore & Michigan Southern Railway.
( Report for the fiscal year ending Dec. 31, 1896.)
Earnings.—The traffic earning3 for 1896, compared with
1895, show an increase from freight traffic, January to April,
equal to 7*78 per cen t; during the remainder of the year
there was a falling off amounting to 12*24 per cent. Toe
ton mileage decreased 3 99 per cent, but the mileage of
freight trains was decreased 4*91 per cent. The average liad
of freight trains was again increased ; in 1895 it was 318*5
tors; in 1896, 321*6 tons.
Earnings from express traffic decreased $30,229, or 5*19 per
cent. The passenger business shows a decrease in number of
passengers carried but a small increase in mileage ani
earnings.
Operating Expenses.—The operating expenses, including
all taxes and betterments, were :
In 1896...................... . $13,726,155............ 67*97 per cent of earoiogs.
In 1 8 9 5 . . . . . . . . . . . . . . . . . . 1 4,5 6 9 ,2 2 0 .......... 69*32 per cent of earnings.
Decrease...................

$842,065

Operating expenses for 1896 include the following expendi­
tures : For new equipment purchased, $816,302 ; for changes
of grades, $95,4i3; for 8*10 miles of new side tracks, $30,780.
Hoad Operated.—Except for an increase of 8 miles in its
sidings, the road operated remains th^ same as last year,
including fines owned by L. S. & M. S. Ry. Co., 855 miles;
six proprietary roads, 263 miles; five leased roads, 32J
miles: total length of road operated, 1,440 miles; second
track, 491 miles; third track, 9 63 miles; side tracks, 719
miles. Total miles of track, all steel rail except 12 miles,
2,659*18 miles.
Construction and Equipment.—Thrse accounts still stand
at $84,000,000, as shown in the balance 9heet; nothing has
been charged to either of them since 1883.
Stock and Bonds.—The capital stock has remained un­
changed since 1871—twenty-five years. It is $50.000 000.
The funded debt was reduced in 1896 from $43,442,000 to
$43,192 000 by the purchase and cancellation for the sinking
fund of $250,000 in bonds secured by the first mortgage. The
total amount of bonds thus canceled is $6,500,000.
Equipment.—On December 31, 1896, the company owned
548 locomotives, a decrease of 28 since 1895; 418 passenger,
mail, baggage, etc., cars, a decrease of 4; 19.313 freight cars,
an increase of 605, and 733 working cars, a decrease of 9; the
total number of cars owned was 20,464, against 19,872 in 1895
and 20,640 in 1894.
T ra ffic. —The following facts as to the tonnage carried have
been compiled for the C h r o n i c l e :
Total
Goal
of
and
Year.
all.
Ooke.
1 8 9 6 ..
..13.6624.171
1895___ 14,382
3.994
1 8 9 4 ..
. 12,1423,474
1 8 9 0 ..
..11.5312,385
1 8 8 9 ..
..10.021 1,729

- T o n s [OOO om itte d ].-s

Iron
Ore.
1,224
1,553
1,182
1,178
984

Stone, Sand
and
Lime.
1,255
1,324
802
905
929

Grain,
all
kinds.
1,020
1,011

989
1,158
918

Lum ­
ber.
690
744
641
930
820

Average
train
load.
321*6
318*5
267*2
268*1
254*7

885

Operations—
1896.
1895.
1894.
1893.
Pass, carr’d (N o .)... 4,519,887
4,627,175
4,542.924
5.311,086
Passenger m ileage..211,120,596 210,966,572 198,292,265 334,207,812
R atep erp ass.p . m .. 2T4L cts.
2*139 ots.
2*229 ots.
2*092 ots.
Freight (ton) m oved 13,662,419 14,382.641 12,142,256 13,142,844
Fr’ght (tons)mileage *2,377,034 *2,475,757 * 2 ,'9 6 ,2 4 4 *2,427,692
A v. rate p. ton p. m. 0*549 ct.
0*561 ct.
0*572 ot.
0*587 ct.
E arnings—
$
$
Passengers...............
4,520,045
4,512,372
4,420,642
6,993,060
F reight...................... 13,289,042 14,157,425 12,844,275 14,490,259
Mail, exp., rents,etc. 2,384,870
2,346,238
2,292,953
2,202,614
Tot. gross earns.. 20,193.957 21,016,035
Expenses—
M ain.of way & struo. 2,209,143
2,010,974
Main, of equipm ’t f[. 2.767,410
3.536,055
Conduct’g transp’n. 7,664,427
8,051,682
G eneral.....................
319,561
323,261
T axes..........................
761,914
649,947

19,557,870

23,685,932

2,087.305
2.091,950
7,984,582
338,198
684,032

3,150,922
4,191,714
8,820.271
301,588
659,417

T otal...................... 13,726,155
Net earnings............
6,467,802
P. o. op. ex. to earn.
67*97

13,186,067
6,371,802
67-42

17,123,912
6,562,029
72*29

14,568,219
6,447,816
69-32

* Three ciphers om itted. If l a 1893 includes $2,164,618 fo r new
equipment; in 1895, $1,615,954, and in 1896, $816,302.
INCOME ACCOU NT.

Receipts—
Net earnings............
Int., dividends, etc..

1896,
$
6,467,802
354,812

1895.
$
6,447,816
412,978

1894.
$
6,371,802
409,356

1893.
$
6,562,019
459,132

Total incom e.......
Rentals p ai4............
Interest on debt.......
D iv’ds on gu. s to c k ..

6,822,614
629,119
3,117,745
53,350

6,860,794
644,759
3,131,370
53,350

6,781,158
606,922
3,151,947
53,350

7,021,151
597,395
3,173,763
53,350

Total disburse’ts.
Surplus for dividend
Dividends (6 p. c .)...

3,800,214
3,022,400
2,967,990

3,832,479
3,028,315
2,967,990

3,812,219
2,968,939
2,967,990

3,824,508
3,196,643
2,967,990

Surplus.................

54,410

G E N E R A L B ALAN CE

60,325

949
228,653
31.
1894.
1893.
$
$
71,950,613 71,935,019
17,300,000 17,300,000
451,007
451,007
12,858,568 12,858,569
690,400
667,400
1,468,37 S
1,497,682
937,160
1,058,327
72,160
601,242
1,540,365
1,738,254

SH EET D ECEM BER

1896.
1895.
Assets—
$
$
Railroad, bldgs., etc. 71,950,613 71,950,613
Equipm ent............... 17,300,000 17,300,000
451,007
Re’l est & office p r’ty
4 86,008
Stocks owned, cost.. *12,787,828 12,587,728
Bonds owned, c o s t..
t746,380
703.400
A d va n ces..................
1,078,243
1,132,8 >5
Materials, fuel, etc..
948,56s
821,627
Rills receivable.......
Cash on hand...........
1,825,019
2,648,^49
Unco lected earns.&
other open acots.. 1,584,074
1,553.872

2,328,626

1,963,729

Total assets.........108,706,735 109,149,952 109,597,286 110,071,229
Liabilities—
S to c k .......................... 50.000,000 50,000,000 50,000,000 50,000,000
Bonds (see S upp .)... 44,516,000 44,766,000 45,016,000 45,266,000
Dividends ...............
1,526,500
1,510,670
1,510,670 1,510,670
Other liabilities....... 1.129,014
1,235,796
1,235.811 1,275,453
Incom e account....... 11.535,220
11,637,485 11,834,805 12,019,106
Total liabilities.. 108,706,735 109,149,952 109,597,286 110,071,229
* Includes $2,503,000 1st pref.. $6,275,000 2d pref. and $6,240,000
com. stock N. Y. Chic. < St. L. RR.; $2,675,096 Pitts. & Lake Erie R R .;
fe
$399,500 pref. and $865,900 com. M ahoning Coal RR.; $200,000 T er­
minal Ry. o f Buffalo, and $575,700 M erchants’ Des. Trans. Co.
t Jam estown & Frank. RR. 1st. m ort. bonds, $250,300, and second
m ort. bonds, $ 4 6 7 ,1 0 0 - V. 64, p. 799.

Lake Shore System— Mahoning- Coal Railroad.
( Report for the year ending Dee. 31, 1896J
The Lake Shore report furnishes the following :
R E N T A L R E C E IV E D A N D P A Y M E N T S .

1896.
$

Rental received (40 per
cent) gross earnings
268,396
Other in com e....................
15

1895.
$

1894.
$

1893.
$

285,743
22

258,739
39

245,133
27

Total incom e................ 268,411
Deduct—
Interest on b on d s.............. 75,000
Dividends*.......................... 183,092
Organization expenses . . .
1,357

285,765

258,778

245,160

75,000
183,093
1,484

75,000
183,093
1,424

75,000
153,092
1,840

T o ta l............................. 259,449
B alance.............................. sur. 8,962

259,577
sur.26,188

259,517
def.739

229,932
sur.15,228

* Paid 5 p. c. on pref. stock fo r ail the years, and on com m on fo r
1896, 1895 and 1894. 10 p. c.; for 1893 and 1892, 8 p c.; fo r 1891, 5*3
p. c.; also paid fo r 1890,7 p. c.; for 1889, 4 p. c.; for 1888, 3 p . c.
B A L A N C E SH E E T D E C . 31, 1896.
L iabilities—
Assets—
M ahoning Coal R R .......$3,386,505 Capital stock—
Pref. 5 p. o., guar. $661,850
Sharon B ranch..............
387,398
C om m on............ 1,500,000
Cash and cash ite m s... 20,835
1st m ort. b d s .,5 p . c.,gu. 1,500,000
Incom e accoun t..
132,889

In 1896 the gross earnings per mile of road were $14,027,
T o ta l................................$ 3 ,7 9 4 ,7 4 0
T otal.................... $3,794,740
against $13,824 in 1889; the net earnings $4,492, against - V . 62, p. 865.
$4,710. _ The freight train mileage was 7,391,380, against
Michigan Central Railroad.
7,298,395 in 1889. The freight earnings per train mile were
( Report for the year ending Dec. 31, 1896.J
$1*80, against $1*72 in 1889. The average number of paying
passengers per passenger tram was 45, against 56 in 1889;
The annual report is signed by President Ledyard and M r.
passenger train mileage 4,655.339, against 3,947,496; passenger Cornelius Vanderbilt, Chairman of the board of directors.
earnings per train mile $1*41, against $1 69.
The report says in substance:
Statistics.—The corap trative statistics .for four years, co m ­
Stock and Bonds.—The capital stock remains unchanged
piled for the Chronicle, are as follows:
at $18,738,000. There has been no change in the funded debt.
Construction.—This account has increased $111,718, as fol­
O P E R A T IO N S A N D F IS C A L R E 8U L T 8.
1896.
1895.
1893. lows : Cost of constructing the Grayli' g Twin Lakes &
1894.
Miles oper*d Deo. 31
1,440
1,449 Northeastern RR., Grayling to Twin Lakes, 27-80 miles, $113,1,440
1,449
Equipment—
818, less received from sale of land, $2,100; balance, $111,718.
L o co m o tiv e s............
591
518
576
590
Earnings.—The freight traffic shows a decrease in tons
Passenger cars..........
418
422
428
424
Freluht cars.............
19,313
20,781 moved one mile of 7,738,309, and an increase in earnings of
18,708
19,668
W orking c a r s...........
733
742
546 $234,000. The rate per ton per mile shows an increase from
548

THE OHRONIOLK

8 8 6

!7 to o 0 'i or 0*010- Tbt> p a m iig w traffic shows a de­
er, ...... o f 0 .7 T"•-TI9 in pstM-sogwra moved one naile, and a do
ct.
cl $U7,'.* •m .afiiinfis, Tho rate per p w n g e r per
•- * !,(- an sii'f'
from 3 838 to 3*288, or 0*0i8,
Tt « •, •no.'.: g •xpeniM « and taxes show an increase of
I . ■ h s. The emu of all bettermvoUi and additions to tho
; r, j-n v , t i»-« w the items shown under tho head o f construe
Stem t* Included in this account,
,
C>,'. •. ;o Ttrmihai Road,—During the year arrangements
ha vi, u",i) c*m»o in mated for the acquisition by this company
of stm . .riant terminals and twit line facilities at Chicago and
K ■ : i"n! .go, und< r which it will have its own direct connec,*
t is ■ h in Stock Yards at Chicago and with a belt line
'
around ti> c»iy, inter,octing all lines entering Chicago.
>
f.v, it,' *0 hits t een expended on this account, for which bonds
i ■ trirg four p r con interest from Jan. 1, 1897, have been
issued and sold,
Rcncw-ilr ami Equipment,—As to these the r e p i r t shows :
T en# o f #t#ct r i i 1 * 1 8 ,6 ,1 0 0 ; n u m b er o f tie s r e p U o e d . 6 4 8 ,0 8 5 ;
n - > - at f<-i V" ,* ioiltt, 1 .V 7 5 ; m iles o f n ow fe n c e b u ilt, 22*25.

Jh# t>*»>me*r equipment o f the Mlohluan neutral consist# o f 246
e*r«. (.*#*. .<la # .uttnTo, I K ; total. <63—m inoreasB o f 3 daring the
•
roar, Tbe 'reiebt equipment o f Ihe Michigan Central includes 9,480
e.,r#; ('anaitaSouthern, 3,7 6 4 ; total, 13.224—au iu o re a so o f 197. The
com ber nt !o ouiollve* remain# nnclmnsed.
Th*'ear# » « a b ov e en u m erated , w ere m ain ta in ed a t th e fo llo w in g
e ..»t: r i e w c ' e * r«, $ 2 0 8 ,9 1 9 : freig h t ea rs. * 6 8 8 ,7 1 9 ; an d in om d e s
t i e f.iil-.w ir.v It.on#: oa t*, t n v (a d d ! 1 >nal), 3 m all ca rs, a n d 2 sn ow
n in e# : e*r». t o w (to re p la ce old ears w orn o u t , 45*2. N ew w h e e ls —
Iron. 15.T - ; steel tire, 166; tuidvule tiros, 338 . N ow a x les , 2 ,9 0 1 ;
ear# r e c e iv in g gen era l rep a ir, 1,658.

11

Statist ic.%
—The comparative statistics for four years, com­
plied for the Chronicle, are as follows :
O P E R A T IO N S AN D F ISC A L R E SU L T^ .

M iles o p e r a t e d ... ...
E yitip m eh l
L o v o m b tiv iw ..............
’ *##('tiger e q u ip * !...

1895.
1 ,6 4 2

1 898.
1 ,842

461
360
1 3 ,0 2 7

401
3 63
13,224

1

Freight equipm ent..

1893.
1 ,634

1 894.
1 ,6 3 4

461
360
13,761

461
360
13,761

O p era tion s—
5 6 1 .00 9
2 .6 8 3 ,1 4 1
2 ,6 4 9 ,7 1 5
3 ,3 0 3 ,6 5 5
Pn-.-tEigel# ca rr ie d .
P aaxenger m ile a g e .. 1 5 6 ,3 «7 ,1 2 4 1 6 3 .09 2 ,8 4 3 1 5 4 .9 9 5 ,5 1 6 2 85 .8 8 3 ,0 2 0
R a t e > !.:(-* p .m lle . 2*268 ct#.
2*258 ets.
2-123 ets.
2*252 ota.
F r’ e h t i t s m ) m o v e d
7 ,2 7 6 ,2 7 0
7,4 7 0,95 1
6 ,8 0 5 ,5 7 4
6 ,1 7 5 ,2 1 5
Fr*ght ttom dm ileiu’ e 11,480,251 11,487,989 11.210,337 il,3 5 6 .1 1 0
A r . r . l e p . ton p .m ile 0*636 ots.
0*617 Ota.
0-68 7 ets.
0*680 ets.
K a rri tn g r—
$
$
$
Fas ('e a g e r .,— - , . . . .
3 ,5 4 5 ,6 5 6
3,6 7 2,50 1
3 ,499,341
0 .0 6 9,83 1
F reig h t ......................
9 ,1 7 7 ,9 0 4
0 ,4 1 2 ,4 0 2
8 ,3 1 4,02 6
9,2*24,356
800 ,95 4
M a ll, e x p r e ss , e t c .. .
8 6 3 ,4 9 6
7 7 0 ,64 5
8 8 3 ,79 3

1

T o ta l 0a o m o'*rnt- 1 3 ,8 2 1 ,6 1 4
O p era tin g exp en se*—
M a ln i. o f way,®-to
1 ,0 3 3 ,0 5 1
M atnt, o f eq u ip m en t i ,5 1 2 ,8 85
T r » n ^ | M J r t * U o n . 8 ,2 8 1 ,4 7 3
G e n e ra l,
3 0 8 ,38 9
T m m ...........................
3 2 6 .4 5 3

1 3 ,6 51 .4 1 9

1 2,5 8 4 ,0 1 2

1 6,1 7 8 ,0 3 0

1 ,8 1 9,62 5
1 ,3 5 5)0 2 2
6.4*21.779
2 8 8 ,4 0 6
3 02 ,49 9

1,4 8 4,64 5
9 1 8 ,5 6 6
6 ,1 4 1,65 9
2 58 ,59 3
3 4 0 ,6 4 4

2 ,337,79
2 ,0 0 1,07 2
7 ,3 5 4 ,4 0 0
2 53 ,65 0
340 ,87 5

T o ta l op er. ex p e u , 1 0 ,3 92 ,3 5 1
K e t e a rn in g s .............
3 ,4 2 9 ,2 6 3
P .c .o p . e x p . to earn*.
75*19

1 0,1 83 .2 3 1
3 ,4 6 8 ,1 8 8
74*59

9 ,1 4 4 ,1 0 7
3 ,4 3 9 ,9 0 5
72*66

1 2,2 8 7 ,7 9 2
3 ,8 9 0 ,2 3 8
75*95

1 T h re e cip h er* om itted .
INCOM E

ACCOUNT

1 896.
$
3 ,4 2 9 ,2 0 3
3 9 ,6 8 5

1895.
$
3 ,4 6 8 ,1 8 8
4 9 ,0 7 7

1894,
S
3 ,4 3 9,90 5
4 4 ,6 5 0

1893.
$
3 ,8 9 0 ,2 3 8
4 5 ,7 9 0

T o ta l i n c o m e ,.
I)ltb u r$ ew en is—
B e n t a k p a id .. . . . . . . .
In te re s t on d e b t ,.. . .
Can. S o a tb ern share

3 ,4 6 8 .9 1 9

3 ,5 1 7,26 5

3 ,4 8 4,55 5

3 ,9 3 6,02 8

184 ,31 0
2 ,2 1 0 .2 5 5
2 9 0 ,4 7 4

184,310
2 ,2 1 7,89 1
3 0 4 ,71 5

184 ,31 0
2,21 6,875
287 ,80 8

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

T o ta l....................
Sw rpla* fo r d h i d ’ cls.
D iv id e n d k
i___. . . . . . . .
K a te o f d i v i d e n d ....

2 ,6 9 1 ,0 3 9
7 7 7 ,90 9
7 4 9 ,5 2 0
( 4 p e.l

2 ,7 0 6.91 0
8 1 0 ,3 4 9
7 4 9 ,52 0
(4 p. o.l

2 ,6 8 8,99 3
7 0 5 ,5 6 2
7 19 ,52 8
(4 p . c.)

2 ,8 5 8,45 2
1,0 7 7,57 0
1,0 3 0,60 1
(5*2 p. .)

2 8 ,3 8 0

6 0 ,8 2 9

4 8 ,0 3 4

46,9 75

Mreeiptx—
N et ea rning*In t. and d iv id e n d s ..

S u rp lfi^ ..,...........

0

BALANCE SH E E T DECEMBER 3 1,
1896.

Tnt*ni m m m ***.* 4 6 ,8 1 8 ,2 0 4
M n biiU ie*—
C apital tte e fe ..
1 8 .7 3 8 .0 0 0
Jtefid# i**!v S ir re f ) , , 1 8 .8 7 6 .0 0 0
p a y a h la ..
3 ,8 6 7 ,5 7 8
2 8 0 ,4 9 6
Jtee.fn.ed in t e r e s t., . .
in v U im tU ....... .
3 7 4 ,7 6 0
Im m m n aec-nnnt.. . . .
7 ,1 8 1 ,3 7 0

*526 cent and per passenger per mile was 1*76 cents, an in­
crease of *008 cent and '17 cent respectively, as compared
with the preceding year. The operating expenses—including
taxes and rental of teiminals—show a decrease of $480,878.
Financial.—In compliance with ihe terms of the equipment
trust lease, referred to below, covering 18 locomotives, 800*
box and 300 gondola cars, there was paid $50,000, and $3,000
was paid to various parties, making $53,000 expended during
the year account o f this equipment. This amount has not
been charged against the net income of the year, but has
been shown in the income account as a deduction from the
surplus income of previous years. All other expenditures
during the year for additions to the property have been in­
cluded in operating expenses, no charges having been made
against construction or equipment.
Physical Condition.—As to the road, bridges, equipment,
etc , tne report shows ;
Length of main track, 513 miles, second track 15 tulles, side track
197 mile*; 'ota l 71ft miles. Increase fur ih i year In aide truck o f 2 %
miles; in side tr ick since the operation o f the road hv this oomtmuv
59 m i'es; In side track since the road was opened 132 miles
The leu. Ui of bridges Is. of Iron. 3 miles 1.903 foe*, and o f wood 4
miles 5.277 feet. The increase f-«r ths rea r in length of Iron bridges
1# 45 feet and the decrease iu wooden bridges bv substitution o f earth
em bankment fo r tem porary wooden trestles Is 437 feet.
The condition o f the track and awuetures but been Improved. D u r­
ing the year 19 si miles o f track were ballasted with gravel, 9 m iles
with cinder# and % tulle wl b otbnr materi v ; 214,*67 cross Ho# were
renewed and 4.07H tone o f new 65-ponud steel rail# (38*\
were
laid w l’ h new join t fastenings.
Under au equipm ent trust lease
between The Central Trust Company o f Mew York and this com pany,
dated January 27. 1896 there have been added lo the equipm ent 13
locom otives, 300 b o x and 200 gondola oars. Tile tun m at expended
during the year for hire of freight oars In e x o -ss of the amount
received from other railroad# fo r use o f this com pan y's f eight oar
equipm ent was *318,136. The engine and cur equipm ent reoeived
large repuiis during the year, and jra condition has been welt o.aiatamed. There was expended in repairs to freight, cars $ 311,819.
which is $17,95o In excess o f ihe amount expen ded the previous year
iu repairs to that class o f equipment.

Tronic,—[Of Ihe through freight in 1896, that eastward
bound yielded $2,399,636; that westward bound $949,478.
The average number of tone per train in 1896 was 230: in
1890 it was 250. The earnings per mile o f road in 1896 were
$10,694, against $11,128 in 1890. The gross earnings psr
freight train mile in 1896 were $t 21, per passenger train
mile were $0*885.—EDS.J
Statistics.—The statement of operations, earnings and
charges has been compiled for the Chroni :ilb as follow s:
O P E R A T IO N S A N D F IS C A L R E SU L TS.

1896.
1895.
1894.
1 89 3 .
512
M iles o p e r a t e d ..........
512
512
512
O p era tion s—
4 8 2 ,3 4 3
P ass, c a r r ie d .............
533,577
4 7 3 ,4 4 1
6 2 5 ,1 7 7
Pass, c a r r ’d 1 m il e .. 4 5 ,7 5 3 ,6 1 1 58,096,803 45,1*58,591 1 0 5 ,0 1 0 ,6 3 5
1 *39 ets.
B a te n o r p ass, p e r in. 1*76 ets.
1*69 ets.
1 *46 ots,
3 ,1 4 8 ,2 5 0
F re ig h t (tous) c a r r ’ d
3 5 6 9 ,0 3 0
3 ,0 3 4 ,7 7 2
3 ,2 5 2 ,9 3 2
F r ’ t (tons) c a r ’d m. 8 9 0 ,7 7 2 ,2 6 3 1 0 2 4 7 3 6 9 1 8 8 9 6 ,6 5 7 ,9 7 1 9 4 0 .7 9 2 6 1 6
B a te p e r to n p e r m .„ 0*526 ets. 0*518 ets.
0*534 ets.
0*548 ets.
E a rn in g s—
$
$
S
8 0 4 ,9 1 5
924,700
P a s s e n g e r ...................
1,533,242
7 6 1 .9 3 8
4 ,6 8 9 ,0 0 6
F r e ig h t ........................
5,307.777
4 ,7 0 2 ,2 9 7
5,187,335
03,75*3
M all, e x p re ss , e t c ....
85,474
7 5,0 04
07,171

1

T o ta l e a r n in g s ..
E xp en ses—
T r a n s p o r t a t io n ........
M o tiv e p o w e r ............
M a in e o f w a y .........M aint. o f c a r s ............
G e n e ra l....................
T a x e s ............................

5 ,5 8 7 ,7 6 6

6 ,3 1 7 ,9 5 0

5 ,6 2 9 ,2 3 9

6 ,7 8 7 ,7 4 8

2 ,3 2 4 ,7 3 0
1 ,0 5 9 ,2 5 2
5 1 3 ,0 0 5
3 60 ,93 1
1 2 7 .08 9
2 1 9 ,1 5 4

2 ,7 0 9 .1 1 5
1 ,1 7 1 ,3 0 9
5 3 6 ,4 8 1
3 5 6 ,2 8 3
1 16 ,25 5
2 0 0 ,3 2 5

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

2 ,7 0 3 ,6 9 0
1 ,3 0 9 ,1 2 9
0 5 4 ,7 7 1
4 9 9 ,6 6 6
1*28.974
1 8 2 ,7 0 3

T o t a l .....................
N e t e a r n i n g s ..-------O th er in c o m e .............

4 ,6 1 0 ,1 6 1
9 7 7 ,6 0 5
9 ,6 4 3

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

4 ,6 7 1 ,9 7 7
9 5 7 ,2 6 2
0 ,9 0 0

5 ,4 7 9 ,2 3 9
1 ,3 0 8,51 0
6 ,3 1 9

T o t a l ....................
P a y m en ts—
In t. o n b o n d # .............
R e n ta l o f e q u ip ........
R e n ta l o f te rm in a ls .

9 8 7 ,2 4 8

1,236,81*4

9 0 4 ,2 5 2

1 ,3 1 4 ,8 2 9

7 7 7 ,9 0 0
112, (72
9-1,191

7 7 7 ,0 0 0
8 3 ,0 0 0
9 5 ,5 0 7

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

7 8 0 ,0 0 0
8 9 ,0 0 0
9 2 ,2 2 7
9 9 .4 6 0

0 8 4 ,16 3
3 ,0 8 5

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

9 5 4 ,9 2 5
9 ,3 2 7

1 ,2 6 0 ,0 8 7
5 4 ,1 4 2

D iv , ou l s t p f . sto ck .

86,000

200,000

2 5 0 ,0 0 0

1 895.

1894.
1 893.
(J
j
$
4 2 ,4 9 0 ,1 3 0 4 2 ,3 7 8 .4 1 1 4 2,3 78 ,4 1 1 4 2,3 7 8 ,4 1 1
.............
' 6 7 0 ,6 0 6
6 7 0 ,6 9 6
6 7 0 ,6 9 6
6 10 ,69 6
F n el and «ttp p lfe a ,..
1 ,6 6 1,35 8
1.3 4 8,04 5
1 ,207,801
1 .0 3 9,08 4
Jyeeon.fi tn reeel t . , . . * 1 ,2 4 6,82 2
7 7 4 ,58 8
9 0 3 ,17 7
822 ,91 7
tIsieoird m r n lttm . ,.
btrt&toQ
2 4 6 ,3 0 7
443,381
6 8 0 ,8 6 5
€ ® *h,....................
4 0 2 ,3 9 6
1 ,1 9 0.00 9
9 5 8 ,4 8 0
1,0*29,509
A tir ts —
. i

[V ol . LX1V.

4 8 ,6 1 4 ,6 5 6

4 6 ,5 0 1 ,7 5 2

4 8 ,5 6 1 ,5 7 2

1 8.7 3 8 .0 0 0
1 8 .3 7 6 .0 0 0
1 ,0 8 9,67 0
2 83 ,24 0
8 7 4 ,7 6 0
7 ,1 5 2 ,9 8 0

1 8,7 38 ,2 0 4
18,3 70 ,0 0 0
1 ,(9 7 ,3 8 8
2 83 ,24 8
371 .76 1
7 ,0 9 2 ,1 5 0

1 8 ,7 3 8 ,2 0 4
1 8 ,3 7 6 ,0 0 0
1 ,4 6 2 ,1 2 0
2 3 3 ,29 8
6 5 5 ,8 3 7
7 ,0 4 6,11 0

T o ta l liald litlea,. 16,818,520*1 4 6 .0 1 4 ,6 5 6

1 0,561,752

4 6 ,5 0 1 ,5 7 2

New York Chicago k St# Lunin Railroad.
(R eport for the yenr ending Dec, St, 1896 )
, . Tb' T T - 1 '':l" 0 r
>
"iK” ‘"i by President Callaway and
Mr, V*. K Vanderbilt, Chairman at the board of directori
my* in rwh*!sir»e« ’
General
«<»>— Tho earning# from freight traffic decr«c <-i ffii * >i"ii (»nd from pbwrtger traffic $119,765. These
r* -*,if> a r> c&usi-d mainly by the decrease in the volume of
misHifs-o ut'nKitabl.. tr, ihe general depression throughout
th‘* conn try 1 h- average rate received per ton per mile was

T o t a l .....................
S u r p lu s .........................

BALANCE

SHEET

1896.
A ssets—
Cost, o f r o a d ............... 4 6 ,0 8 6 ,1 5 8
3 ,7 2 0 ,8 1 7
C o st o f e q u ip m e n t..
2 1 2 ,4 9 7
M a terials a n d fu e l..
3 6 6 ,5 3 5
C ash ..............................
12.5 67
B ills r e c e i v a b l e .. ...
1 9 1 .2 0 2
D u e by ffironts, & o ..
3 9 1 ,7 5 9
D u o b y o ilie r c o ’ s . . .
7 ,4 5 2
D u o b y P. O. D e p t .
4 2 ,0 0 8
M iseel. a c c o u n t s —
T o t a l...................... 51.,034,924
L ia b ilities—
5,
s t p ro f, s t o c k ...........
* d p ro f, s t o c k ...........
.
l
C om m on s t o c k ..........
F u n d ed d e b t ............... 1 9,4 2 5 .0 0 0
3 8 9 ,0 0 5
U np aid vm ieh ers—
U n p a id p a y -r o lls ___
1 91 .80 1
7 5 ,6 2 8
D u e c o ’ s & In d iv id ’ !#
9 ,8 0 0
In t. d ue a n d n o t p a id
1 9 4 ,2 5 0
In t. a ccru e d ,n o tio n s.
5 1 .0 0 0
R e n t o f eq*t. n o t due.
D l v .o n l#t prof. st,’k.
5 4 1 ,8 9 7
S in k in g fu n d a o c-t...
1 5 6 ,48 4
In co m e a c c o u n t ___

1
2

T o ta l........... .
~V . 0 4 , p. 3 7 4

DECEMBER 31.

1895.
$
4 6 ,0 8 6 ,1 5 8
3.72(1..- ! 7
1 7 0 ,71 0
3 2 1 ,3 5 1
4 1 9 ,4 1 6
3 2 4 ,0 4 8
4 2 6 ,3 8 4
7,133
4 7 ,0 0 3

1894.
$
4 6 ,0 8 6 .1 5 8
3 ,7 2 0 ,8 4 7
2 5 7 ,4 2 4
4 3 5 ,5 4 9

4(1,080.158
S ,7 20 ;S 4 7

2 3 0 .4 2 3
441 a 18
7 ,1 3 3
4 1 .1 9 1

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

5 1 ,5 2 9 ,6 5 6

51,215,8-13

00 ,0 0 6,0 ,000 5 ,0 0 0 ,0 0 0
00
00
00
0 ,0 0
,000
11 00 ,0 0 11,0 0 0 11,000
0 0 0 1 4 ,0 0 0 ,0 0 0 1 4 ,0 0 0 ,0 0 0
0 ,0 0
1

5 1,0 34 ,9 2 *

19,4*25,000
5 5 5 ,3 8 9
2 37 ,1 2 7
1 0 1 ,1 7 5
1.1,420
1 9 4 ,2 5 0
2 7 ,0 0 0
2 5 0 ,0 0 0
5 4 1 ,8 9 7
2 0 6 ,3 9 8

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

'1 .5 7 0 ,0 5 6

5 1 ,2 1 5 ,8 4 3

5 4 1 .8 9 7
1 7 5 ,08 9

1 89 3 .

289,528
238,400

5 ,0 0 0 ,9 0 0
1 1 ,0 0 0 ,0 0 0
1 4 ,0 0 0 ,0 0 0
1 9 ,4 2 5 ,0 0 0
5 6 2 ,0 8 1
2 1 0 ,8 7 6
1 3 2 ,89 1
9 ,7 6 0
1 9 4 ,2 5 0
2 9 ,0 0 0
2 0 0 ,0 0 0
5 4 1 ,8 9 7
1 0 5 ,7 6 3

THE

Ma t 8, 1897.]

CHRONICLE.

.

Erie Telegraph & Telephone Company.
( Report for year ending Dec. 31. 1896.)
The report of thl9 company for the late fisc-d year is given
almost in excenso on subsequent pages of to day’s Chronicle.
As explanatory of the important fields covered by ihe c >mpany’s operations we roav say that the Erie Telegraph & Tele­
phone Co. o w n s6 5 'o 7 b p rcent of the capital stock of three
companies, viz. : (1) Cl veland Telephone 7o. (capital, SI,7d0,000), operating in Cuv ahoga County in Ooio. includi igtheciry
of Cleveland; (2) Northwestern Telephone Exchmge Co
(capital $2,000,01/0), operating a continuous system of wires
located in and uni ing La Crosse, Wis. (connecting thire
with the lines of another companv which afford commu ication with Chicago), Sioux City, la., and Ya kton, South
Dako'a, with Minneapolis and Sc. Paul, and tbence running
westerly and northerly to Fargo and Janusrown, and also
to Grafton. North Dakota, with many branches; (3) South
Western Telegraph & Telephone Co (capital. $3,000,000), whose
system chiefly comprises a net--sorts of wire* in and con­
necting the cities of Paris, Denison, Sherman, Dallas, Waco,
Austin, San Antonio, Houston, Galveston and intermediate
places.
The company’s earnings, f tc., for four years past have been
compiled for the Chronicle as follows :
S U B -C O M P A N I E S .

1896.
G ross in com e ........................................... $1,0 3,619
6 3 ',4 8 3
Gross expen ses.........................
Net earnings........................... .
D ividends.................................... .

$395,136
461,662

B alance................................... def. $66,526
E R IE

TELEGRAPH

1895.
$1,085,996
635,258

1894.
$1,033,619
638,483

$450,638
403,625

$ 3 * 5 ,' 36
352,375

sur. $47,013

sur. $42,761

«fc T E L E P H O N E

CO.

P roportion o f dividends rec'd .
F ixed charges and e xpen ses.. .

1896.
$314,914
106.274

1895.
$275,337
60,855

1894.
$240,667
25,756

N et In o o m e ............................
D ividends p a id .........................

$ '0 8 ,6 4 0
192,000

$214,482
192,000

$314,911
192,000

Balance surplus........................
—V. 63, p. 1063.

$16,640

$22,482

$22,911

G E N E R A L

IN V E S T M E N T

N E W S .

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

a il b o a d s

Volum e

a n d

64—

M

is c e l

. C

o

's .

Paqe

.rtceiv. asked. 7 0 8
tint t M l
coupons. 8 n
fmecl. ' 9 8
coup. 8 - 2
reonj. 8 4 2
JkTo\..coiuol.drposi^. 7 5 4
coupons. 8 4 2
W ...fordo*. 7 5 4
sal*. 7 9 0
Ct\..Jin dinstalm’t. 7 5 5
forecl. stay 7 9 o

A m e ric a n G r o c e r y ...
A t la s T a c k
...............................
B a lt o & < > n io .
........................
C a u e F e a r A Y a d k . V a l ...............
C h ic a g o & W e s t M ic h ig a n . .
C m . J a c k s o n A M a c k in a w
.
C o lu r u . H . V .
Do
Do
..........
Jack son v. T am p a A K .
L e x i n g t o n T e r m i n a l ........................
L o u ip v . N. A . *
M e m p h is A C h a r le s to n .

n! v'. A Harfem.'. R'j

refund. pta - 755
n
.recvr. 8 4 2
reoro..SOi), 8 1 3
.sold 7 5 5
sold. 8<>0
coup. >-43
sale. 7 5 5
recvr. 8 4 4
depos, 7 5 8
.vllat. 8 1 4
fared. 7 9 9
forecu 8 0 0
coupons. 8 4 4

N o r th e a ste r n K K . or G a . . .
O r e g o n Im r o v e m e n t ...
O w e n s b o r o F a l l s o f It. A G . I t .
Q u i n c y O m a h a A K . C ....................
S t . L . V a n d a l i a A T . H ..............
S u m m i t B r a n c h ......................................
S u p e r i o r C o n s o l . L a n d C o ____
U n i o n P a c i f lc .o o L
««*• / 1801
Do
««
1801.
Do
K a n s a s C e n t r a l ............
U ta h C en tra l
....................................
W i a c o n s i u C e n t r a l ...................

coll. Tr

tr.

of

STREET

R A IL W A Y 8 .

recvr.
reorg.
sold.
.re>vr.; reorQ.vhin.
dep. ptnalty.7*
raid.
forecl
May
,)...snle.

............
422
A u s t i n ( T e x a s ) It. T
I B e lle C it y S t. (R a c i n e . W i s .)
610
B r lir a n tlu e T r a n s i t
........................
373
B r o o k ly n E l . . .
009
D o * c o u /i s .6 0 3 ;
0, 8 i2
B u r lio jr to n ( l a ) E le c t r ic . . . .
753
B u tte C o n so l S t. R y .
663
C a lu m e t E le c . S t r e e t ...t n f .
1. 7^8
j C a u ita l R y . ( F r a n k f o r t K y
422
C i t i z e n s ' t r a c .t S u t i D i e t r o .i a l .) r e c u r .4 2 2
i C o l . A M a r y l a n d I t y (B a l f c o .L r e o r y . 6 1 0
j C o l u m b u s ( O .) C e n t r a l K y —
>*42
D a l l a s C i t y S t r e e t .............................
567
E ast B itm L a n d & R R . . —
813
E n g le w o o d A C o le . E l ..
4 2 -i
F o u r t h 9 t . A A r s e n a l # S t .I
511
P e n u l e ’ s R h i Iw u v . . s
do
613
G e t t y s b u r g E l e c t r i c R y .......... fared . 7 0 7
H ig h la n d A v e . A B e lt (B in n in g
h a m . A l a . ) ...........................................
707
M c K e e s p -r t D . A V V ..........d e / . , r
707
H a n n ib a l ( M o .) S t .
610
I n d i a n a n . & B r o a d K i p .r - f
664
M e t . W e s t S id e E l. i C h i c .) ...
611
S o u t h J e r s e y T r a c t i o n ...................
567
T a c o m a R y . A M o t o r ........................
c65

fared.
recirr.
sale.
.reers. ctfs.
,...'tcvr.
reorg.

recvr.
cor.
Hy.r>ported sold.
vr. asked.
.rerrro
s >ld.
sold.

American Grocery.—Receiver Denied.—At Trenton, N. J.,
April 30, Judge Kirkpatrick, in the United Stabs Circuit
Court, decidtd that ihe facia did not warrant the appointment
of a receiver for dissatisfied stockholders.—V. 64, p. 798.
American Sofia Fountain.—Dinial by Mr. Matthews.—As
to the rumor that the firm of John Matthews is about toreengage in the business of manufacturing soda water appara­
tus in competiiiou with the American Soda Fountain Co.,
George Matthews.per John H. Matthews, has written an optn
letter sayirg, in part :
We will not deny that we have been approached b y parties wishing
to interest us in a plan to organize a company to he conducted under
our personal uianattemetir, but it is not true that we have engaged in
any definite negotiations along this line. Further, we can say that
there Is in existence an agreement whereby the firm o f Johu Matthews
is restricted from entering into competition with tile American Soda
Fountain Co for a period o f teu years from January I, l - 9 i . I t l s
im possible even to guess if at any time there will he a legitim ate and
profitable field for an enterprise o f this kind, and we certainty would
no hold the matter in consideration under the present ciioum stances.
—V. 64, p. 281.

Atlantic Coast Line Company of South Carolina.— VViIm ngtnn Columbia 4 Augusta KR.— orlheasteru RR. of
South Catoluia ( heraw 4 Darlington RR.—Central KH. of
Sooth Carolina—Manchester 4 Augusta KH.—Florence RR.
—Proposed Consolidation Held Lawful. —As stated in tne
Chronicle of April 3, p, 663, the South Carolina Legislature
at its last session authorized the six oompanns last above
named, comprising the lines of the Atlantic Coast system in
South Carolina, to be consolidated uadtr the title of the
“ Atlantic Coast Line Company of S >uth Carolina.” Pre­
paratory to consolidation a friendly suit was brought in the
Circuit Court at Columbia, S. C , on April 26, to determine

887

whether under the laws of the S'ate forbidding the union of
competing lines the consolidation could legally take place.
The jury promptly rendered a verdict that it could. The
merger would result in bringing info one corporation about
707 miles of road (of which toward 600 mi'es is in South Caro­
lina. The “ Atlantic Coast Line Company” holds a controlling
interest in the stock of the Marches'er & Aug., the Florence,
the Cheraw & Dari, and the Northwestern railroads. The
other companies are held under lease to lines io its system.
The question will now have to be submitted to the stock­
holders of the several corporal inns, and it is not anticipated
that the consolidation can be effected under a year, even in
case it should prove possible to take advantage of the author­
ity granted.—V. 64, p. 660.
Atlantic & Pacific RR.—Atchison Topeka & Santa Fe
Ry. —Sold in Foreclosure.—The Western Division of the
Atlantic & Pacific RR. was sold under foreclosure of the first
mortgage on May 3 and purchased for $’ 2,000,000 in the interest
of the AtohisoD, which holds practically all the Western divi­
sion bonds, obtained as alreadv stated in the CH RONICLE.
(See Y. 64, p. 179. 232, 286, 468. 609, 663 ) The sale was con­
firmed by Judge Collier at Albuquerque on May 4.—V . 64, p.
663.
Atlas Tack.—Sale Confirmed.—Judge Colt has confirmed
the forrclosure sale of April 27, despite the objection of a
stockholder that $200,000 cash, $112,000 accounts receivable,
$350,000 raw materials and goods in process of manufacture,
machinery worth $255,090 and real estate worth $214,860, the
whole property being mortgaged for only $223,000, were sold
for the sum of $250,000.—V. 64, p. 841.
HaDimote & isorthern Electric Ry.— Falls Road Electric
Ry.—P kesyille Reistertown & Emory Grove RR.— Corastruction and Consolidation. - Arrangements, it is said, have
been completed for constructing the Falls Road Electric Ry.,
at d ft r consolidating it, when completed, with the Pikesville
R isters'own & Emorv Grove RR., under the title of the Bal­
timore & Northern Electric Ry. It is expected to finish the
Fail- R ad and branches by Sept. 15, and to complete it as
far as Mount Wtshington by July 20. The consolidated
company will issue capital stock for $1,000,000. and $1,250,000
5 per cent bonds, the Maryland Trust Co. acting as trustee.
Contract for construction and equipment have been let.
Hridgtton & Millville fraction.— outh Jersey Trac­
tion — eorganized Company.—The South Jersey fraction
Comt any, which was s^ld recently at muster’s sale, was
reorganized on May 3 as the Bri tgeton & Millville Trac'im
Gtimpany, with these officers: Directors, G. Hartman Kuhn,
Stephen Greene, Aaron Fries, Bloomfield H Minch, Lawret ce Johnson, Frank S. Lewis and Walter H. Bacon.
C. H-rtman Kuhn was elected President; Stephen Greene,
Vice-President, and Walttr H. Bacon, Secretary and Treas­
urer —V. 64, p. 567.
Brooklyn Eleva*e<1 RR.—Plan Declared Effective.—Over
80 per cent of Bonds Deposited.—Penalty after May 15 —Tne
Oicoit committee announces that the plan and agreement
dated March 19, 1897, has been declared effective, more than
80 per cent of the vaii ms issues of bonds provided for having
been dept sited. The time for the deposits has been extended
to and including May 15,1897, after which date no secutities
will be received except on payment of such penalty as the
committee may impose.
Application has been made to the New York Stock Ex­
change to list Central Trust Co. of New York certificates of
deposit for securities deposited.—V. 64, p. 842.
Brooklyn Union Urn —Contract w ith d 'y Executed.—Tbs
contract between the Brooklyn Union Gas and the city of
Brooklyn, which was accepted some weeks ago by the Board
of Aldermen, was approved this week by Mayor Wurster.
The contract is for five years and provides that the city shall
receive gas at $1 per thousand cubic feet for the first year,
and that the price shall be reduced at the rate of 2 cents a
thousand each year until, for the last year, the price to the
city will te 90 cents. The same contract provides that the
price of gas to private consumers shall begin at $1 20 per
thousand, and shall be reduced at the rate of 5 cents per
thousand each year so that the price for the last of the five
vears will be $i per thousand. The contract was to go into
effect Jan. 1, 1897, and by advice of counsel the company
nave made a rebate on all bills rendered in excess of $120
since that date. At this rate'the friends of the company hope
it will be able to pay dividends at the rate of six per cent per
annum.—V. 63, p. 1009.
Calumet Electric Street Ry.—Receiver Appointed.—John
C. McKeon, receiver for the National Bank of Illinois, has
been appointed receiver.—V. 64, p, 798.
Chicago 4 Alton RR.—Dividend Reduced.—The company
on Thursday declared a quarterly dividend of )% p< r cent,
payable June 1, a reduction of % per cent from the rate paid
quar erly for many years past. 1 reduction applies to both
’he
common and preferred sharts, the preferred stock being en­
titled to a preferential dividend of only 7 per cent per annum,
the common then rtceiving7 ptr cent, after which both
slocks share pro rata. A reduction of 1 ptr cent per annum
in the rate of dividends curtails the annual dividend charge
$222,306. Last year the surplus over 8 ptr cent dividends
amounted to $17,333.—V. 64, p. 370.
Chicago Milwaukee 4 St. Paul KR.—Conversion of Ma­
turing Bonds.—The Iowa & Minnesota 7s which fall due July
1, 1897, were reduced by conversion into preferred stock dur-

888

THE

CHRONICLE.

(V o l . L X IV .

m
G
N et
O tner
In terest,
B a la n ce r
lac tiu. t,n dav* following (he payment of the April dividend 3 ar. ot. en d . ea rn roses . ea rn in g s.
M
31—
in g
in com e.
taxes, etc,
s u r p lu s ,
o* that stock from |l,738.O00 to >383,000. The holders of 1897..........$2,092,462
$952,067 $117,990
$764,OGO $285,987
Ibf** remaining bonds having neglected to avail themselves 1896.......... 1,879,571
778,593
60,110
657,803 180,840
9 mos—
of the right to convert their bonds into preferred shares
(w mch art- quoted at about 131 bid) must now accept par for I«9B -7....... 90,502,326 $2,951,614 $382,162 $2,362,871 $970,935
1 8 9 5 -6 ........ 5,250,117 2,422,771
147,853
1,703,801
806,823
them in cash at maturity July 1.—V. 64, p. 333.
—V . 64, p, 330.
Chicago * Northern Pacific KR .—Chicago Terminal
Mexican Central Ry.—Annual Meeting May S.—A t the
Traasfer KR.-.VrWtrig May SO to Adopt Reorganization annual meeting the following were elected directory James
plan, - The committee of which J, Eiward Simmons is C. Melvin succeeding Jacob Edward:
Chairman ha* called a meeting for M ty 30 of the holders of
Isaac T . Burr,
,
elvin ,
certificates of deposit representing the first mortgage bonds Sebastian C amB o s to nt e r . Jam es C. sMM orse, B oosto n .. J o se p h R ich ardson , Yoric.
acho, i
K. R o llin
B s to n
Kew
for the purpose of taking action upon reorganization. Especial
attention is called to tne fact that the adoption o f the plan
>lo?
.
..........________________ _____
. .ipfiarv, Bo« .
requires the affirmative vote of TO per cent in interest of the Jos. H. White. Boston. Geo. B. Wilbur. Boston. R, R. Symgn, London, Eng.
c> rtifiaate holders. It is therefore important that the vote o f
The officers elected are as follows:
every certificate holder should be recorded at this meeting I
A A. Ro
n,
o e t R. Sym
ic
re
n t; E R
Copies of the plan and proxies can be obtained from the sec­ lin s. M o rse b in s oe -PP re s id e n t;aR d b Crhairm an o n , Vn cee-PC o s id e itte e : . J . oTl.­
, V ic
re s id e n t n
F in a
mm
retary of the committee or from the United States Trust Com­ H a m e r , C le rk an d C o m p tro lle r; O. A . B ro w n e , T re a su re r a n d T ra n s ­
f e r A g e n t; H . R. N ick e rs o n , G e n e ra l M a n a ger; W. A . F r o s t, A u d ito r ;
pany,
plan —The plan itself is published at length on pages 898 to J a y A . H e n d ry , A ss ista n t T re a su re r.
y< > It provides for the formation of anew company (the ' Outlook.—The remarks of President Robinson at the stock­
<.
Chicago Terminal Transfer RR Co.), which shall acquire all holders’ meeting are reported by the “ Boston Financial
the property of the Chicago & Northern Pacific RR. and of News” as follow s:
the Chicago & Calumet Terminal Ry., the last-named being
H spok e e
in
o th e
e f
ro a
the property regarding which an agreement was made with lie. e H e said u o o u ra gst g lyw fth e re fu tau rm o re th e ig h td oan d odf th e R e p n b tliat la
no
w s
o
fr e
ffe re than o o a id
the Mori hern Pacific Committee in April, 1896 (see full par­ b e b a n d ie d w ith th e p re s e n t e q u ip m e n t, a n d th a t a rra n g e m e n ts w ere
m a d e r e c e n tly to p ro v id e m o re e q u ip m e n t
ticulars V, 63, p. 778).
i
T mp
h a rb
a
c m
T
io
Under the plan every bolder of $1,000 of United States b rah e Qpenluaeo fe d ath e ic o ark etso r f n duth e e oto p le tio n o f thete ra m p n sn
n ch lias o p n
m
o E rop
M e x ico bv w a
tra ­
Trust Cto. certificates for Chicago & Northern Pacific bonds p o rta tio n , w h e re a s. fo rm e rly , all th e e a sin e ss h a d to g t b y rail th ro u g h
w ill receive for principal and overdue interest, 8400 in new th e U n ited S ta le s aud w a s re s tricte d ou a o co u n t o f th e g re a t e x p e n s e .
T h e la te s t oensus tak en b y th e M e x ica n G o v e r n m e n t s h o w e d a p o p u ­
first mortgage 50-year -1 per oent gold bonds, 1500 in nonin cre s e
la st oe n s. s
n
cumnlaitve -i per cent preferred stock, $400 in common stock. laetio n p o t v1 2,5 7 0 ,0 0 0 , 6an 0 0 , o ra 26 psi nee nth e W ith th e sutro de v e n te eo f
y a rs re io u s , o f 2 ,6 3 ,0
e r ca t.
in
u c tio n
It will be observed from the plan that all the securities m o d e rn m eth od s, th e g r o w th o f M e x ico s h o u ld b e fa ste r d u rin g th e
placed upon the property,except those reserved for cash re- n e x t s e v e n te e n yea rs a n d gre ite r p ro g re ss s h o u ld b e m ade,
The
ha
m
and
uiiemeni.«, are to go to the holders-of Chicago & Northern tra n spca ttle an d f frou itn ined u strie s th e v e ox a d e ra p id att-ides h i v e tih e­
o rta tio n o
ra g s o v e r
M ioan CeutraL ro id
n
aciiic bonds, or for the acquisition in their interest of new cr e a s e d 100 p e r c e n t e v e r y y e a r d n r io g th e p ast "th ree y e a rs. T h e
property required for the completion of the terminals, so m in in g busin ess is an im p o r ta n t fitotor a n d to -d a y so m e o f th e la r g e s t
that the present bondholders will receive the full benefit of sm elters in th e w o r ld a re lo c a te d in M e x ico . P resid en t R ob in s m
a n ticip a te d n o re ta lia to ry m easu res on the p a rt o f ih e M e x ica n G o v ­
any future increase in value or earnings.
ern m en t on a o o o u n t o f th e u ew tariff, w h ich w a s u n fa v o r a b le f i r
Negotiations are in progress for the joint operation of other M e x ic o as t o th e d u ties o n o&tble a n d h id e s .—V. 6 4, p. 8 3 9 , 8 4 3 , 845 .
terminal and belt properties in and about Chicago [including
Middle Tennessee & Alabama I iR.—Sold in Foreclosure.—
presumably the Chicago Hammond & Western RR„ 45 miles—
see I n v e s t o r s ' S l p p l e m b n t —E d s . ] , and in order that the This road was sold under foreclosure at Fayetteville, Term,,
reorganized company shall be in position to accept any May 5, and purchased by J. W. Dickon for 5150,000.—V. 64,
advantageous proposition in this connection, the plan pro- , p. 707.
vitles for retaining in trust, for a short period, all the securi-! New York Central & Hudsttn River RR —Quarterly.—
tits of the new company. Proprietary certificates, however, 1The actual figures of earnings for the quarter aad the nine
will Ire igsaed in the mean time in their stead, and the new months ending March 31 have now come to hand; the es­
securities will be delivered Dec. 31, 1897, unless otherwise •timated results were published in the Chronicle of March 13,
ordertd by 70 per cent in interest of the new securities.1and differed but slightly from the following actual figures:
The plan'submitted has already received the assent of held-j
G ross
N et
F irst
B a la n ce
ers of a very large amount of United States Trust Company 3 in. e n d . e a r n in g s , ea rn in g s , ch a rges. P . O. D iv id en d s, su r. o r d e f .
certificate*.—V. 64, p, 339.
M a r. 3 1 $
*
$
$
$
1 8 9 7 . . ..1 0 .1 3 3 .4 2 5 3 ,2 4 6 ,4 4 9 2 ,6 3 5 ,8 6 3 < i% ) 1 ,0 0 0 ,0 0 0 d f.3 8 9 ,4 1 4
Colorado Midland Ull.—Foreclosure Decree Entered,—At 1 8 9 6 .. ..1 0 .2 8 3 .9 1 1 3 ,2 5 4 ,5 8 3 2 ,6 4 4 ,5 2 7 (1% ) 1 ,0 0 0 ,0 0 0 d f .3 8 9 ,9 4 4
9 m o n th s—
Denver,Col., May 4, a decree was entered in the United States
8 9 6 .-3 3 ,0 7 1 ,8 8 8
3
d f.2
Circuit Court ordering the foreclosure sale of this property 1 895 -7 ..3 4 .2 9 2 ,3 1 3 1 0 ,6 9 0 ,8 2 6 7 ,9 0 0 ,0 9 7 (3% ) 3,0 0 0 ,0 0 0 s r .1 0 9 ,2 7 1
1
6
1 1 ,0 7 3 ,8 2 6 7 ,9 2 3 ,0 3 0 (3% )
, 000
,000
5 0 ,7 9 6
under i«jth the first mortgage of 1886 and the consolidated —V . 6 4 , p . 843.
mortgage of i860. The sale will take place at Colorado City
New York Chicago & St. Louis RR,— Quarterly.—Earn­
at a d it»: to be announced later. The properties covered by
eseh mortgage will be sold separately, and then as a whole. ings for the quarter ending March 31 have been reported as
Th- committee has not fully determined upon the details of follows. The annual report is given on a previous page.
G ross
N et
O ther
In terest,
B a la n ce,
the reorganization plan, and is no haste to have a date fixed 3 m os. end.
M a rch 31. e a r n in g s .
ea rn in g s.
in com e,
taxes, etc.
d e fic it.
for the sale.—V, 64, n, 134,
! 1 8 9 7 .______ $ 1 ,3 1 0 ,9 8 4
$ 2 1 3 ,0 7 6
$ 1 ,4 0 6
$ 3 0 5 ,9 0 8
$ 9 1 ,4 2 6

?

F b ctrlf Storage Battery.—New President.—President !
Gibbs has resigned, being succeeded by L. L. Rice.—V.64, p.841. :
Port Worth A Rio Grande Ry,—Interest Scaled,—The
holdi r« tif all except $41,000 of the bonds having agreed to a
reduction in the rut •of interest, the Central Trust Co. is now
delivering the old bonds with new coupon sheets attached in
a cotdar.ee with the tortus of settlement, viz: 8 per cent in­
<
terest !< r the five years to and including Jan. 1, 1902, and 4
>
i ft cent for the remainder of the life of the bonds. Holders
% *
j‘-■-nting re-eive payment of the unpaid January, 1897,
coupon in ca*t» at the 3 per cent rate, ['he old coupons will
be held alive by the tru-tee for the benefit of the depositing
bondholders, to be enforced by it In case of default on the
adjusted interest to the extent that they have not been met
therefrom,—V, 64, p. 287.
Gettysburg Electric Uy. —Foreclosure Sale June 10.—
Tb** foreclosure sale is set for June 10.—V , 64, p. 707.
inti rior ((in dni t & Insulation.— Injunction.— Judge
1, in t
■ip •
rot* Court, on Wednesday, granted an inthe i* ■irity stockholders, enjoining the company
from suing
'."'.m debenture bond* and reducing the cap­
i
ital stock to $1,000,000.—V. 03, p. 413.

1 8 9 6 ............. 1 ,4 5 4 ,4 9 1
- V o l . 6 4, p . 3 7 4 .

1 9 8 ,8 7 9

5 ,6 9 0

2 9 0 ,6 7 1

8 6 ,1 0 2

Oregon Improvement Company,—See page 902.
Reading tibinpany.— Voting Trust Agreement.—On ac­
count of the crowded condition of our columns we are
obliged to defer again the publication of the Voting Trust
Agreement, which was to have been printed last week in
connection with the article on Voting Trus s.—V, 64, p. 843.
Sanford & St. Petersburg Ry.—Savannah Florida &
Western Ry,—Bonds for $300,000 Guaranteed,—The form of
guaranty, which was published last week, applies to only
$300,000 out of the total issue of $600,000 first mortgage
bonds.—V. 64, p. 843.
Standard Oil Dividend.—The liquidating trustees have de­
clared a quarterly dividend o f 8 per cent and an extra divi­
dend of 7 per cent, payable June 15. The payment in March
also aggregated 10 per cent. In December, 1896, 5 per cent was
paid, in September 3 per cent, in June 10 per cent and in
Match 13 per cent. On Friday sales of the certificates were
reported at from 802 to 307, the highest price ever reached.
In Sept., 1896, they were quoted as low as 302 —V . 62, p. 871.

Toledo St. Louis & Kansas City UR,—Old Purchase Money
Jackwiuvltle Tampa A Key West R R .—Safe Again Post- Claims A ffirmed—The United States Circuit Court at Chicago
potted. - On Monday this property was again offered for sale this week rendered a decision affirming a judgment in favor
and again c<> bidder came forward. The sale httg been advt-r- of the American Surety Co. for $323,909, with interest since
ti« d five titns* and bids solicited three times. It has now July 1, 1898. This was a test case, and the decision affects
be* n continued subj* ct to future order of Court.—V. 64, p. 764, claims aggregating some $500,000, which were not settled
L e b a n o n H p r in
R R. —New Receiver. - Elnathan Sweet has under the previous foreclosure sale in 1885, the properly at
m m # # t'tM&tiw*
o fill the vacancy caused by the death of that time being sold subject to their lien. The reorganized
W S I I a s b V , H ® f ok
*. Pell W , Foster is made trustee for the company paid the interest, but never found it convenient to
b o t id fec*!ci«*rn,
pay off the principal. The decision just rendered establishes
Metropolitan .Street Railway (N. Y, City).—Quarterly,— these claims as ahead of the first mortgage bonds.—V. 64
Karri iogy for On- quarter and the nine months ending March p. 331,
31 have been reported aa follows
f W Foi* o th e r In v estm en t H em s nee pa-ircf? 9 0 2 au d 9 0 3 .

-9

THE CHR0N1CLK

May 8, l8»7.j

^ z p o x t s a m i jp o a tw je u ts .
SOUTHERN

PACIFIC COMPANY.

ABSTRACT OF THE TWELFTH ANNUAL REPORT—FOR THE YEA R ENDING DEC. 81, 1896.
To the S'ockholders:
N e w Y o r k , April 7, 1897.
The business year of the Southern Pacific Company and its constituent companies has been changed from December
31 to June 30, so as to conform to the period for which the railroads of the United States are required to make reports an­
nually to the Inter-State Commerce Commission and to the respective State Railroad Commissions. This change will save
the comnanies the expense attending the re-statement o f their business for a period differing from that heretofore observed
by them, and enable them to render their annual reports to the Commissions at a considerably earlier date than heretofore.
For the information, however, of those interested in the securities of these companies, an abridged report is now pub­
lished, summing up the operations for the year ending December 81, 1896, and other essential information in regard to the
changes which have taken place in the assets and liabilities since the last annual report. The usual fully tabulated an­
nual report will be issued for the year ending June 30, 1897.
I.—PROPERTIES A N D M ILEAGE.

The properties which constitute the Southern Pacific lines, the miles of road and water lines owned or leased by them,
consisted on December 31, 1896, of the following transportation lines :
Pacific

L ines

A tla n tic
S ystem

Lines.
Total m iles main line ow n ed .................................................................................................. 2,830*11
7*24
T otal m iles main line leased.............................................................................................
45*96
T otal m iles second track ow n ed ...................................................................................
3*51
T ota l miles second tra ck leased............................................................................... .
627-69
Total miles sid in gs............................................................................................................-

Texas.
1,966*65

157*18

D u ring the
year.
Increase.
5,219*01
54-68
30-84
67*75
5*54
7*40
1,152*81
55*65

T otal length single track and sidings........................................................................... 3,514*51
II.—L e a s e d L i n e s .
T otal length o f single track and sidings............................................................................. 2,588*10
4,965-81
T ota l m ain line proprietary com panies and leased lines ............................................ 4,965*84
58*9S
T otal second track proprietary com panies and leased lin e s.........................................
58*98
T otal sidings proprietary com panies and leased lin e s.................................................... 1,077*79
1,077-79

2,338-48

624*82

6,477-81

115*87

1,96^*65
3-89
367*94

445*85
21*79
157*18

2,588-10
7,378-34
*4*67
1,602-91

7*74
54-68
5*54
63-39

S ystem
I .— P

r o p r ie t a r y

L

in e s .

in

3*89
367*94

Lines.
422*25
23 60
21*79

Total.

The changes in mileage have been as follow s:
Southern Pacific, hi i Lru id o f California.—Extensions o f the Coast Division were completed as follows : January 30,
the Lake to Someo, 7*6 miles; April 6, Someo to Viaduct, 7*2 m iles; June 1, Viaduct to Tangair, 2*5 miles; June 10, Tangair
to Santa Ynez. 4*2 miles ; August 18, Santa Ynez to Surf, *72 miles ; total, 22*22 miles. On the Southern Division there
were completed January 28, Monrovia to Duarte, 2*96 m iles; March 7, Covina to San Dimas, 4*5 m iles; April 20, San Dimas
to Lordsburg, 2*1 miles { August 22, Lordsburg to Pomona, 1*24 m iles; July 20, San Bernardino to Riverside, 11*09 miles ;
October 21, Anaheim to Los Alamitos, 10*08 miles; December 30, Extension at Santa Ana, *14 miles. Total new lines,
54*34 miles. Between Los Angeles and Shorb 5*54 miles of double track were built.
Minor changes in tracks of completed roads, and corrections in distances formerly reported, have increased the mile
age of the proprietary lines *34 miles.
There were operated an average of 7,355*86 miles for the year, against an average of 7,288*35 miles operated in 1895.
II.—INCOME FOR TH E Y E A R 1896.

The following statement shows the transportation earnings of the proprietary and leased railroad and steamship lines,
and all other receipts, except from capital created. Also operating expenses, taxes, sinking fund contributions, and all
other charges which are an obligation of the proprietary companies, or o f the Southern Pacific Company as lessee. Re­
ceipts and payments appertaining to transactions in former years, and transactions other than such as grow out o f the
transportation operations o f the roads, and adjustment between the several interests in respect to operations, are shown
separately under profit and loss. Under “ proprietary companies” are shown the earnings over operating expenses, taxes
and fixed charges which inure to the Southern Pacific Company as the principal owner of the stock o f said proprietary
companies, and under “ leased lines” the profits or losses from the operation of the property leased from the Oregon &
California RR. Co., Central Pacific RR. Co. and California Pacific RR. Co. which inure to or become a charge against the
income of the Southern Pacific Company.
P rop rietary
Companies.
M iles o f road, including ferries...............................
In c o m e .

Gross transportation earnings................................
Operating expen ses...................................................

J
Leased
Lines.

5,254-85

2,134-18

$
$
33,469,623 41 15,138,445 99
22,351,917 22 9,544,869 06

E arnings over operating expen ses........................
Earnings under operating e x p e n s e s .....................
Trackage and other rentals.....................................
Incom e from investm ents.......................................
Interest on open a ccou n ts.......................................
Interest on sinking fund investm ents..................
Land sales and leases ...... .......................................
M iscellaneous receip ts..............................................
Net protit from operations under omnibus lease.

11,117,706 19

Total in co m e ........................................................

12,296,468 42

Charges

to

I ncom e.

Taxes ......................................................................................................
Trackage and other rentals...............................................................
Rental, California P acific HR...........................................................
Betterments and a d d itio n s..............................................................
Interest on bonded debt .. . ”..............................................................
Interest on State o f Texas d e b t ...................... ...............................
Interest on open a cco u n ts................................................................
Sinking fund contributions and earnings.....................................
General adm inistration e x p e n se s...................................................
Premium on bonds purchased and can celed ................................
T axes and expenses of land departm ent.......................................

Miscellaneous.......................................................................

N et profit under om nibus lease due 8. P. Go................................
O. P. RR. earnings over operating expenses, taxes, rentals,
betterm ents and additions, and interest on bonded d e b t ___

535,720
41,980
346,633
117,913
136,515

16
00
66
33
08

1,000,354 05
728,957 99
11,229
7,842,753
23,282
201,287
357,913
64,936

74
78
94
37
33
85

68,630 27
8,269 52
106,659 32

Surplus................................................................................

1.882.193 26

Increase.

Decrease.

54-68

$
$
58,597 28 48,666,666 68
65,420 33 31,962,200 61

$
1,790,357 83
............ 1,280,228 89

16,704,460 07

510,128 94

5,593,576 93

6,823 05
73,132 11 541,410 41
329,680 68

1,150,262
371,660
346,633
117.913
136,515

68
68
66
33
08

18,258 36
10,027 11
2,427 85

42,503 10
26,946 17

106,659 32

6,798 35
101,706 29

5,666,709 04 970,927 36 18,934,104 82

657,369 53

18
68
00
55
78
94
26
33
85
00
27
52
32

85,214 46

858,510 56

2,552 94

91 21,302 22 1,459,657
925,095
69 15,000 00
00
512,969
160,924
81
00 158,640 00 12,231,773
23,282
287,378
20,145 15 65,945 74
432^913
75,000 00
64,936
............
3,550
3,550 00
68,630
8,269
106,659

438,000
181,137
512,969
149,691
4,230,380

*858,510 56

10,414,275 16

D u ring the Year 1896.

Total.
7,389*03

106,659 32

T otal charges to i n c o m e .............................................................
D eficit....................................................................................................

Southern
Pacific Co.

............
6,390,838 12 339,437 96 17,144,551 24
________ 631,489 40 1,789,553 58
1
..............
724,129 08

40,898 67
60,027 11
27,303 40
15,086 05
2,100 75

9,543 82
87,031 00
105,684 11
472 73
154,069 37
36,376 83
101,706 29

—

261,700 77
395,668 76

* Applicable to U. 8. requirem ent, under Thurman A ct, com pany .in k in g fund, land departm ent expenses, and other corporate charges.

The expenditures for betterments and additions, excluding the §160,934 55 charged to income as above, for the year
were $826,029 05. Of this sum §25,209 63 was expended for account of the Oregon & California Railroad, and §800,819 42
for account of the proprietary companies. Of the latter amount §134,208 01 was by the proprietary companies charged to
their profit and loss account of the year, leaving §666,611 41 charged to capital account.
The year’s results show a decrease in the surplus of the proprietary lines of $696,915.08, a decrease of §286,540 67 in the
deficit from the operations of the leased lines, and an increase of $14,705 63 in the surplus of the Southern Pacific Com­
pany, from its interest in certain leases and income from property investments.
The distribution of the year’s results between the several interests is detailed as follows

PHK CHKONK LK.

bH
O

Total
Lost or Profit Unaer
Terms n f Lease or Optra
lions by Their Otrn
O ganizations.
i

Lott.
PKiirBIBTABr L m a I.BASBP TO SOUTHERN
I 't o n c Comi-a s t :
Northern California Rj . Co..............................................
H'Tlwro Rr. Co ........ ...................................................
South Pa.-lfie 0o*»l Ry. Oo .........................................
.«..-.uli-rii PAcIfic KR. Co. of California........................
*
M M o n Pae-ne R t. Co. of Aritona.............................
Southern Pacific RL Co. of X t * Mr atoo.....................
L»ui.iau4 We-tern HR. Co............... . ............................
R d ry u 'i UtilOsUt A T en u RR. A SR. Co. . . . . . . —

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

..........
............
160,120 13
7,13 1 97
4.432 08
786,296 62
............
............

Loss.

Loss or Profit.

Profit $20,718 41

$318,776 1 i

Lots

300,633 55
50,122 73
9,733 36
66,229 23
392,500 20

96,202 71

568,116 12
33,243 07
117,521 81
107,601 80
2.720 16
10,256 71
31,-159 89
346 89
20,929 08

...................
62,167 54
631,489 40

$786,296 62

............ $1,789,553 58

Surplus........................................... ...............................
Deficit................................... ................................. •-

jLeased L ints South’ n Pacific Co.

I*mfit.

568,116 1°
33,243 07
117,52181
107,601 80
,720 16
H U 56 71
31.451) 89
.................. $180,129 13
346 80
...................
7.131 97
20,029 08
4,432 08
...................i

.........

LEASED LtNKS.
Orrifon A California RR. Co..........
....... .................
Calltornla Pacific RK. Co................................................
tkimiBRa Pacific Compart .........................................

L ost.

#90,718 41
318,776 14
..................
300,633 55
59.122 76
9.733 36
66,229 23
392,590 20

$66,202 71
........

Pbmi-bietaby U w O i'K u t m nr Tiikiu O w n
O rganizations :
Galveston llurrtslmri! A San Antonio Ry. Co............
» w t.r k T c x a . A Mexican Ry. Co.......... ...................
Tex** A Sow Orlrntu HR. Co ....................................
It..union A Texas Central KR. Co..................................
Au-Ilu A X onh*M lrrn Ry. Co......................................
Outral rexa- A Northwestern Ky. Co........
.........
Fort Worth A Now Orleans
C o................................
Oulf West-ra Texas A Pacltlo Ry C o............................
Texas Transportation Co., Jan. 1 to May 31.. ..........
ilouaton Direct Narltrathm Co.. J»n. 1 to J nly 31 —
Tho Greet Sanitation Co., Auy. 1 to Deo. 3 1 ...........
Iberia A Vermilion RR. Co..............................................

DtSTRIIlUTKIl AS BFTWEKN
Proprietary Companies,

Profit.

..........

I VOL. LX1V.

$1,957,677 56

$786,296 62

Profit
62,167 54
Profit 631,489 40
Profit $618,172 64

The year 1896 was oue o f unremitting business depression. The unfavorable conditions which culminated in the finan*
eial disturbance-- in July, 1893. aud the general business depression which has since prevailed, were intensified by the
basin' " uncertainties usual to a Presidential year, and grave apprehensions as to the final result o f the election, from
this >xi-optional combination of conditions resulted a decrease of $l,790.3j7 83, or 3’68 per cent, in the gross earnings,
■
gr iter th in in any year since the existence of the present business depression. Of this decrease, §1,316,049 73. or 3-78 per
cent, occurred on the lines of the proprietary companies, and $498,671 17. or 3’ 19 per cent, on the leased lines. Fortunately
the large sums expended by these companies in former years for betterments and additions enabled them to reduce their
cost of o|ieration. This saving, in conjunction with the decrease of expenses which would necessarily result from a diminu­
tion in i radio, lower prices o f material and economies in transportation operations, enabled the company to reduce its
0 (s mting exp-ns.-. $1,380,228 89. or 3’8"> per cent. This saving in expenses reduced the company’s losses lor the year to
$5111 . p > 94. a decrease of only 2 96 per cent against 1895. Of the decrease in the operating expenses, $745,855 25, or 3'23 per
_8
cent, was on the lines of the proprietary companies, and $558,083 80, or 5 52 per cent, on the leased lines.
Tin- decrease in income from trackage and other rentals resulted from a credit in 1895 of $44,709 32 in adjustment
in 1n ek u •a ounts running over a number of years. The decrease in the net profits under the omnibus lease resulted
from th" diminished earnings o f the lines embraced in said lease. The increase or decrease in the remaining items of
income are explained by their titles
In eliarges to income, the increase in taxes resulted from a settlement of taxes assessed against the Southern Pacific
Railroad Company of California in the years 1887 and 1888, amounting to $164,975 86. Of the increase in interest on bonded
debt. $87. ! *8 41 is for account o f the Southern Pacific Railroad o f California, and $11,698 61 for account of the Morgan’s
L- iuUi in i >t Texas Railroad & Steamship Company. There was a decrease of $4,260 in interest on bonded debt of the
S Mithcrn Pacific Company, $4,233 35 in Texas Transportation lines, and $49,685 in interest paid for account of the Central
Pacific RR. Co., leaving a net increase in interest on bonded deot of $40,898 67. Sinking-fund contributions were in­
ure.t- l by $50,000, being an amount set aside for sinking fund by the Southern Pacific Railroad o f Arizona. The remain­
ing items of increase or decrease are explained by their titles.
The following statement shows annually, since the organization o f the Southern Pacific Company, the general opera­
tion- and net r -alts derived from the operation of the proprietary companies and leased lines, the net proceeds o f which
<
have either accrued directly to the Southern Pacific Company or to the several proprietary companies, and are represented
in the increased assets o f the respective companies:
E a r n in g s o f
I n c o m e o f S. P. C o.
P r o t r ie ta r y C o m ­ o th e r th a n fr o m
L o ss i n O p e ra tio n
O p e ra tio n o f
p a n ie s n te r O p er­
o f L ea sed L in es.
a tin g K rp ’ te s a n d
P r o p r ie ta ry o r
L ea sed L in es.
F ix e d C h a r g e s.

Y ear.

1*96.............
1895........
i - n.
1893.............
1892,............
1 8 9 1 ...........
1890.............
1*89.............
1688. ..........
1887.............
1888. . . . . . . .
1885.............
Total ...

$1,882,198
2,570.198
1,824,003
.3,03*1,631
3,513.803
3,757.468
3,102.371
1.735,031
1,662.268
1,332,097
365.282
1,985,252

26
32
40
43
57
44
26
72
38
58
87
82

$631,489 40
616.783 77
371.031 40
311,439 53
211.032 66
100,050 17
1.160 00
1,833 78
384.205 93
414.124 54
465.301 43
100.116 33

$20,776,103 11

$3,052,377 91

S u r p lu s a fte r
P a y m e n t o f a ll
F ix e d C h a rg es.

E x p e n d itu r e s fo r
B e tterm en ts a n d
A d d itio n s .

$2,575,850 20
2,976,033 57
2,139,1*4 67
2,750,462 82
3,263.461 89
3,963,066 40
2,641,30.« 09
1,205,994 01
1.638.354 43
1,655,174 89
870,517 06
2,140,069 65

$800,819 42
1,777,047 19
925,222 01
1,206,931 70
2,246,094 32
1,868,263 67
1,354,864 06
1,675,878 19
2.202,828 58
978,014 31
403.560 78
444,204 6‘
J

$2,609,008 34

$27.819.472 71

$15,8*3,729 15

Cr.

Cr.
Cr.

D eficit .

S urplus.

$62,167 54
219,858 52
55,850 19
597,508 14
462,364 34
95,688 79
465,228 17
530,871 -16
408,119 88
121,017 23
39,932 70
51.700 50

Cr.

B a la n c e R e m a in in g a ft e r P a y m e n t
f o r B ette rm e n ts a n d A d d itio n s .

$1,775,030
1,198.986
1,213,962
1,543,531
1.017,367
2,094,802
1,286,439

78
08
66
12
57
73
03

$-169,884 15
564,474 15

677,160 58
166,956 28
1,695,865 03
$11,935,743 56

H v T"x. 1'"it. included in 1895 and 1896; also deductions for sinking-fund contributions, not deducted prior to 1895.
III.-C A P IT A L ACCOUNT.

The changes in the capital account have been as follow s:
P h o i u i e t a r t L in k s .
F ix ed In te re s t-

bearing B o n d a if
Secured D e b t.
Oatatao-Unt December 3 1, 1895................................
/•sued P u r i n a 1896.
9. P. HK- of Otl., 5 pur coot of 1893. ..
6 I* HR. of 0*1 . capita! M ock........ ..........................
Tlw Dir. . 1 Navliratlnn Co., ft per cent scoured note.............
The Direct Navigation Oo , capital stock...........
Total

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

D tm r u t D u r i n g 1896.
T. A N. O. RR-, payment to State of Texas school debt..
T c t* * Trftn*poH«tt»ii Co., capital Mock ehargtM off..........
ffmt*K«tn Direct S e r . Oo., capital Mock retired. .
8 p. < O ,fi per e--r,t steamship bonds purchased and canceled..
Total .............. .....................................
OaUtandti)*' Doconihcr 31. 1896........

Incom e
Mortgage
Bonds.

S o u t h e r n P a c if ic C o m p a r t .

C a p ita l

Stock.

F ix e d
In te r e s t-b e a r ­
i n g Bonds.

C a p it a l S to c k .

$141,837,635 07 $6,354,000 00 $180,898,458 75 $2,715,000 00 $120,995,070 00
2,039,000 00

1,736.100 00

100.000 00

50,700 00

$143,976,035 07 $0,354,000 00 $182,685,258 75 $2,715,000 00 $120,995,070 00
$7,760 98
................
*7,700 98

$28,400 00
150,000 00
$71,000 00

::::::::::
$178,400 00

$71,000 00

$143,968,874 09 <6.354.000 00 $182,500,858 75 $2,644,000 00 $120,995,070 00

TflK ( HHOJN1CJLE.

May 8, 1897.]

891

IY .—PR O FIT AND LOSS.

The following statement shows the net income from operations and all adjustments between the proprietary companies
and the Southern Pacific Company in respect to the results from the operation of proprietary lines leased to the Southern
Pacific Company ; also all other transactions and adjustments during the year which were credited or charged against the
profit and loss of the respective companies:
P roprietary
CREDIT.
Companies.
Balance Decem ber 3 1 ,1 8 9 5 .............................................................................................................. $35,382,540 08
Incom e from operations fo r the year 1896......................................... - ............................ ........-1,882,193 20
Balance in adjustment o f advances for taxes and and expenditures fo r account o f F. P.
58,307 38
Olcott, Trustee................................................................................................................................
13,254 00
Debts due T exas Transportation Co. c o lle cte d ............................................................................
4,899 91
Pro tit from sale o f city and coun ty scrip ........................................................................................
4.315 53
Old material so ld ...................................................................................................................................
357,913 33
Sinking fund contributions and sinking-fund earnings.............................................................
Profit to Southern Pacific Co. from operations o f Northern California R ailw ay.................
.Loss in operation o f South Pacific Coast By. chargeable to incom e o f Southern Pacific
96,202 71
C om pany............................................................................................................ - ............................
T otal.............................................................................................................................................. $37,799.626 20
DEBIT.
P rofit ro Southern Pacific Co. from operation o f N orthern California R ailw ay.......... .
Loss in operation o f South P acific Coast R y. chargeable to incom e of Southern P acific
Com pany.......... ..............................................................................................................................
Loss in sale o f property o f the H ouston D irect N avigation C o........................................ . . . .
Expenditures for betterments and additions Houston A Texas Central Railroad in 1 8 9 5 ...
E xpenditures for better cents and additions in 1896, v i z . :
H ouston & T exas Central Railroad C o................................................................ $89,062 04L
Austin A Northwestern Railroad Co..................................................................... 24,3o9 96
Central Texas & Northwestern R ailw ay.............................................................
916 82
F ort Worth A New Orleans Railw ay C o ............................................................... 7 ,0 /2 98
H ouston D irect N avigation C o............................................................................... l-,2 ~ 6 81

Southern Pacific
Gompaivy.
$6,175,687 14
693,656 94

Total.
$41,558,227 42
2,575,850 20
58,307
13,254
4.899
4,315
432,913
20,718

75,000 00
20,718 41
...................

96,202 71

$6,965,062 69

$44,764,688 89

$20,718 41
149,723 58
288,066 67

133,638
25,900
1,754
1,642
3,372
12,829
10,503

Capital stock o f T exas T ransportation Co. charged off..............................................................
Loss in operation o f hospital on lines in T ex a s...........................................................................
Loss in operation o f Del Rio W ater Works, G. H. & S. A. R y ....................................................
Adjustm ent o f land accounts, Texas A N ew Orleans R ailroad C o....... ...................................
Uncollectible accounts charged o f f ..................................................................................................
Surveys for account o f Phcenix Extension, charged off.............................................................
Taxes paid by Southern Pacific Company fo r account o f year 1887.......................................
Land contracts o f Southern Pacific Railroad of California, surrendered...............................

61
00
73
45
42
99
94

38
00
91
53
33
41

$20,718 41
$96,202 71

96,202 71
149,723 58
288,066 67

133,638
25,900
1,754
1,642
3,372
95,558
10,503

82,728 38
’ *2,944 00

61
00
73
45

42
37

94

2 ,944 00
273,726 47

273,726 47
$921,877 27

$181,875 09

$1,103,752 36

Balance to credit December 31. 1896.............................................................. ............................... $36,877,748 93

$6,783,187 60

$43,660,936 53

26
$607,500 26.

$2,102,709 l x

Total.

Increase f<>r the y e a r..... ......................................................................................................................
V.

$1,495,208 85

A SS E T S A N D L I A B I L I T I E S .

ond UoLiiiHpK of the prnpript^rv rornpanips anrl of the Southern Pacific Co. on Dec. 31, J896. were as follows:
ASSETS.

Proprietary

Southern Pacific
Company.

C om panies.

Total.
December 31,1896.

-f Increase or
—Decrease.

Cost o f road and franchise....................................................................
$310,846,449 33
Steamships ................................................................................................................. ••••— •
•
B etterm ents and additions since March 1, 18 85.............................
15,826,569 81

3,072,845 04

$340,841,438 33
3,072,845 04
15,831,580 81

+ $3,909,707 22
+
1,526 75
+
297,700 96

$356,673,0 L9 14

$3,072,845 04

$359,745,864 18

+ $4,208,934 93

$122,953, 9i 6 72
679, 830 16
914, 432 67

$122,953,906 72
679,830 16
914,432 67

—

$124,548,169 55

$124,548,169 55

+ $3,171,944 07

$1,925 ,000 0 0

$1,925,000 00

T otal.
Stock in proprietary companies.
Stock in leaned lines
.............
Stock in other com panies............
T ota l.....................................................................................................

+ $3,189,944 07
18,000 00

C u r r e n t A ssets

Capital stock Wells, F argo A Co., face value........ $1,750,000 00
Southern Pacific Railroad Company o f California,
first m ortgage 5 per cent bonds, fa ce v a lu e........
980,000 00
Gul JWestern T exas & Pacific Railway, first m ort­
gage 5 per cent bonds, fa ce valu e.......................... 2,224,000 00
Oregon A California Railroad, first m ortgage 5
per cent bonds, face v a lu e.......................................
310,000 00
Gila Valiev G lobe & Northern Railw ay, 5 per
cent bonds, fa ce value...............................................
170,000 00
Texas Transportation Co., first m ortgage 5 per
cent bonds, fa ce value...............................................
350,000 00
H ouston A T exas Central R ailroad, general m ort­
gage 4 per cent bonds, face value..........................
570,000 00
H ouston A Texas Central Railroad, debenture 6
per cent bonds, face value
.............................
28,000 00
Fort Worth & New Orleans R ailway, first m ortage
6 per cent bonds, face valu e....................................
648.000 00
Houston (Texas) city bonds, face value...................
6,000 00
Stock o f Citizens’ Bank o f Louisiana, face v alu e..
36,000 00
Secured note o f Houston Direct Nav. C o........................... ............
Cash.............................................................................................................
Agents and con d u ctors...........................................................................
Bills receivab le.........................................................................................
Pacific Im provem ent C o .......................................................................
Individuals and com panies................................................................... i
U. 8, T ransportation..............................................................................
Material, fuel and other su p p lies....................................................... i
Construction advances for other companies.....................................
Traffic b a la n ces........................................................................................
T ota l............................................................................

836 ,275 32

836,275 32

1,334 ,178 38

1,334,178 38

232, ,500 00

232.500 00

+

159,750 00

113 ,333 34

113,333 34

+

113,333 34

$350,000 00

370.500 00

26,825 00

$352,975 32

350,000 00

370,500 00

+

26,825 00

0 0
6,0 00

6,,000 00

36, 0 00
0 0

36 ,000 00

ioo;,0 0 0

1,037 ,581
119.,119
75,,088
257!,470
363; ,984
65. 910
1,204. ,336

IOO; 0 0 0 00

00

12
84
31
06
18
27
53

4,227,537 34
591,168 47
157,540 81

$4,012,815 31

$11,225,539 22

20,794
1,726.461
29,441
31,307

77
60
56
63

5,265. 118
710; ,288
232, 629
257, 470
303, 984
86, 705
2,930, 798
29, 441
31, 307

46
31
12
06
18
04
13
56
63

$15,238,354 53

648,000 00
1 0 0 ,0 0 0 0 0

800,042
139,432
2,408
91,997
44,023
8,683
89,368
352,893
145,949

08
03
81
40
81
50
64
53
37

170,893 35

D e f e r r e d A ssets.

Steamships, tugs and ba rges.......................................
Real estate and other p ro p e r ty ..................................
State o f Texas subsidy lands (1,584,784 29 acres).
Other lands in dtate o f Texas (113,382’00 a cres)..
Land notes and co n tra cts ............................................
Other p rop erty................................................................
Sinking fu n d s ..................................................................
Individuals and co m p a n ie s........................................
U. S. Transportation—Pacific System .......................
Due by leased lin e s ........................................................
T otal.

$2,177,526
288,911
3,013,819
11,493
3,069,435
02,997

92
13
12
60
17
90

$8,624,183 84

$600,968 67
2,981,742 14

16,931 07
638,579 79

$600 ,968
2,981 ,742
2,177 ,526
288, ,911
3,013: ,819
l i : 493
3,069: 435
79, ,928
638; ,579

67
14
92
13
12
60
17
97
79

$4,238,221 67

$12,862,405 51

$277,500 00

$277,500 00
621,951 46
28,605 50

+
$62,730 46
+
3,498 06
+
6,205 31
—
259,001 67
+
303 62
+
562,855 48
+
2,861 81
— 1,595,398 25
—
97,886 11
—$1,313,831 29

C o n t in g e n t A ss e t s .

H. A S. A. Ry. M. P. extension incom e bonds,
fa ce valu e..................................................................... $1,110,000 00
Htock in proprietary companies, face value............ 1,634,200 00
Individuals and com panies...............................................................
Houston & Texas Central Railroad, reorganization.................
Southern Pacific Com pany...............................................................
Unadjusted a c c o u n ts .........................................................................
Due from leased lin e s ........................................................................
Southern Developm ent C om pany...................................................
San Antonio & A ransas Pass Railway C o m p a n y ......................
Total.
Total assets.................

$621,951 46
28,605 50

$114,346
103,208
2,918,530
810,283
545,760
810,171

50
86
75
74
87
44

791,047 04
2,497,565 59

*2,875,733**94
814,533 57
2,497,565 59
603,176 98

$4,152,954 41

$3,566,112 63

$7,719,067 04

—$1,635,428 49

$373.462,972 70

$146,674,462 79

$520,137,435 49

+ $4,802,512 5C

*2,875.733’ 94
23,486 53
” *603,176 98

665,558 43

1HE

892

0BKON1CLR
P r o p r ie ta r y
V a m p a niet.

tu tu tr u s s .
Mo* [gaiifl
bfWkffll* 4
w at
**.*■ .*.*.»»»•***■.*•-*»-•*»*
*
M o it* a w b e a d * twartti* 5 P »t « * « iB t o t o a t ,.................. - ..............
bon l* be Arm* « p e r c e n t in te re s t........... .............................
M artgak* bmi-ts *»e*r«l« I i«-r r e u i Interest........ ................................
M . r t i i i s isu-ds tsearrng» » » f relit Interest......................................... .
t V b . Bture bond* b e a .lu * » W cen t ....................................................... .
• !
'
...............................
» i u hb b% *4* h em 1issf 7 p$3 m » 1 10U».rmt
;»s
*
•
h * i ’.HU|»anyri it i»©r
* t « M S t d p b o n d * .............

1

S ou th ern P a cific
Chmtp a ny.

$ 2 ,0 4 4 ,0 0 0 0 0

$ 1 1 ,2 5 4 ,5 0 0 0 0
5 1.5 2 9.00 0 0 0
0 9 ,0 5 1 ,0 0 0 0 0
7 .6 2 0 .0 0 0 0 0
2 ,7 1 0 08
n i.o o o o o
7 0 5 ,4 2 0 0 0
13,Oho 0 0
2 .0 4 4 .0 0 0 00

$ 2 ,0 4 4 ,0 0 0 00

»

1 hi

C api:.*: s to ck L o o is ia u a Jc l c * a * T r a n s p o r ta tio n C o m p a n ie s ....

$ 1 4 3 ,5 8 6 ,6 3 6 08
$ 3 8 2 ,2 3 8
6 ,8 5 4 ,0 0 0
1 8 2 ,2 0 1 ,0 5 2
3 0 5 ,8 0 6

01
00
00
75

$ 1 4 6 ,2 3 0 ,6 3 0 08

$ 1 2 0 ,9 9 5 ,0 7 0 0 0

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

1

$ 1 2 0 ,9 9 5 ,0 7 0 00

$ 7 1 ,0 0 0 0 0
+ $ 2 ,0 6 8 ,0 0 0 0 0
-

$ 3 3 2 ,8 2 9 ,7 3 2 84

$ 1 2 3 ,6 3 0 ,0 7 0 00

*$825,205 52
2 5 7 ,9 6 5 01

*805*000
1 7 8 ,9 6 4
9 3 .9 7 7
2 ,4 7 5 ,1 2 0
8 4 1 ,2 7 3

P a.-:' . im p r o v e m e n t C o m p a n y ......... .......................................................
“ * * 3 3 5 ,0 8 2 1 7
2 3 4 ,1 1 5 00
4 8 5 ,2 2 9 15
07,4 23 53
$ 2 ,2 0 5 ,0 2 0 38

18
74
50
00
83

$ 1 0 ,0 4 7 ,0 4 1 59

D k keebk d L ia b il it ie s .

$ 2 ,3 9 2 ,2 3 7
4 ,0 8 5 .6 8 3
2 5 7 ,9 6 5
8 0 5 ,0 0 0
1 78 ,95 4
4 2 9 ,0 5 9
2 ,7 0 9 ,2 3 5
1 ,3 2 6 ,5 0 2
6 7 .4 2 3

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

5 7 6 ,0 0 0 0 0

W ells, F a rgo A C o m p a n y c o n t r a c t ..........................................................

$ 9 0 7 ,3 2 6 9 0

$ 8 2 7 ,0 6 8 15

+ $ 3 ,6 6 8 ,6 3 9 02
— $ 7 9 9 ,4 4 4
—
4 1 6 ,1 1 5
+
2 5 7 ,9 0 5
—
3 0 0 ,3 5 8
—
9 9 7 ,6 1 0
42 9 2 ,4 6 6
—
12,080
+
19,081
+
6 7,4 23

85
01
01
IS
74
67
00
98
53

+
+
~
—
-

$ 1 ,7 3 4 ,3 9 5 05

S outhern D e v e lo p m e n t C o m p a n y ........................................... .................

$ 6 1 ,4 2 3
1 ,4 6 4 ,4 7 6
3 7 6 ,8 4 5
2 ,8 5 6 ,8 8 8
5 3 8 ,2 0 0

$88d)8*6 6 7

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

97
65
14
94
00

639,*4i s 7*3

$ 1 3 4 ,2 8 9
2 <.421
3 3 6 ,8 6 2
4 1 ,7 7 0
3 2 ,0 0 0
1 5 8 ,1 7 5

+

9G
43
64
02
00

C o n t in g e n t L i a b i l i t i e s .
Steam * u p an d m a r m o in s u r a n c e fu n d ...................................................
F a il* .............. ................................................................................

64
29
01
48
28
40
00
65
53

- $ 1 , 9 7 2 ,6 7 2 10

$ 1 2 ,2 5 2 ,0 6 1 9 7

$ 1 3 4 ,2 8 9 96
1 9 7 ,0 3 6 9 4

$ 5 ,7 7 5 49
7 4 2 .6 4 8 64
7 8 .6 4 4 02

1 ,7 3 0 ,1 0 0 0 0
1 2 7 ,7 0 0 00

+ $ 1 ,6 0 0 ,0 3 9 0 2

$ 4 5 6 ,4 6 8 ,8 0 2 84

$ 2 ,3 0 2 ,2 3 7 85
3 ,2 6 0 ,4 7 7 49

$ 7 ,7 6 0 98

+
-

$ 3 1 0 ,2 3 8 ,1 6 0 7 0

1

C ou p on s d ue but n o t p re s e n t e d ................................... ............................
C ou pon * dot* Ian. 1. 1 - 8 7 ............... ..............................................................
loierv-At cm bond*, to
o l , 1896, but n o t d u e , ... .* .. ... .

+ $ 2 ,1 3 0 ,0 0 0 0 0

01
00
00
75

$ 1 8 9 ,2 4 3 ,0 9 6 70
T o ta l b o n d ed d eb t and c a p ita l s t o c k . ......................................................
CfiKRKST LIABILITIES.
..S I S and b ill* p a y a b l e . ............................................................................
V ouch er* and p a y r o lls .................................................................................

+ In c r e a s e o r
- D ecrease.

Total
D ecem ber 3 1 , 1 89 6

fu .a fu .5 o o oo
’ >•1,520,000 0 0
6 9 .0 5 1 ,0 0 0 0 0
7 ,6 2 0 ,0 0 0 0 0
2 ,7 1 6 08
4 1 1 ,0 0 0 00
705,-120 00
1 3 ,0 0 0 0 0

1

r.jia ! Brest in terest b ea rin g b o n d s ...................................................

( T o t . IiXIV -

96
50
62
71
00
82

$ 2 1 5 ,7 8 4 5 5

+
+
+
+

$ 6 1 ,4 2 5
1 7 6 ,7 4 0
1 1 4 ,1 0 6
7 1 2 ,2 8 9

—

2 7 6 ,5 1 0 0 0

+

97
65
81
94
00

97
26
48
28

7 8 8 ,0 5 1 9 9

6 3 9 ,4 1 5 7 3

$ 7 2 3 ,4 0 2 4 0

$ 5 ,2 9 7 ,8 3 6 7 0

$ 6 ,0 2 1 ,9 3 9 10

T o ta l liab ilities............................ ................................................ - .................
: .......... ..............................................................................

$ 3 3 6 ,5 8 5 ,2 2 3 77
36*.877,748 93

$ 1 3 9 ,8 9 1 ,2 7 5 19
6 ,7 8 3 ,1 8 7 60

$ 1 7 6 ,4 7 6 ,4 9 8 9 6
4 3 ,6 6 0 ,9 3 6 5 3

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

$ 3 7 3 ,4 6 2 ,9 7 2 7 0

$ 1 4 6 ,6 7 4 ,4 6 2 79

$ 5 2 0 ,1 3 7 ,4 3 5 49

:

+ $ 2 ,6 9 9 ,8 0 3 4 6
+ 2 ,1 0 2 ,7 0 9 11
+ $ 4 ,8 0 2 ,5 1 2 57

f ho .s--'-:» and liabilities have been classified so as to place their character understanding^ before those interested in
in. in. Under * Current ” have been classed the liabilities which are in current process of adjustment and the assets
•
available for their paym ent; under “ Deferred ” such liabilities as are payable at some future day, either near or remote,
and i U- I-;available therefor: and under “ Contingent ” the amounts involved in the general accounting between the
Southern Pa.-ith* Company and the proprietary companies; also accounts the payment or collection of which depends
up .n future a iju^tment-. and conditions, and such other accounts as the companies may, on their books, have opened
with tit in. Ives for convenience in accounting in respect to certain funds.
VT.—P R O P R I E T A R Y C O M P A N IE S .

Tin* h.llowing statement shows the outstanding bonds and shares of the proprietary companies, and the property cov ­
ered tlureby. va Deeombir 81,1896. The capital stock of said companies is owned principally by the Southern Pacific
Company, and against it the stock of the Southern Pacific Company is outstanding:
C a p it a l A c c o u n t.

Total, 1 896.

T otal, 1 89 5 .

In c r e a s e .

DMe of n n i school debt................................................................

$ 1 4 3 ,5 8 6 ,6 3 6 08
3 8 2 ,2 3 8 01
6 ,3 5 4 ,0 0 0 0 0

$ 1 4 1 ,4 4 7 ,0 3 6 08
3 8 9 ,9 9 8 99
0 ,3 5 4 ,0 0 0 0 0

$ 2 ,1 3 9 ,0 0 0 0 0

In com e m o rtg a g e b o n d s .......................... ............................................. .................

Tolu! b o n d s ...........................................................................................................
C apita! s to r k ................................................................................................................

$ 1 5 0 ,3 2 2 ,8 7 4 09
1 8 2 ,5 0 6 ,8 5 8 7 5

$ 1 4 8 ,1 9 1 ,6 3 5 07
1 8 0 ,8 9 7 ,4 5 8 75

T e t e l b on d *, d ebt a n d s t o c k ...........................................................................

$ 3 3 2 ,8 2 9 ,7 3 2 84

$ 3 2 9 ,0 8 9 ,0 9 3 8 2

$ 3 ,7 4 0 ,6 3 9 0 2

M iles " f main track ami bru n ch es, In clu d in g M o ja v e D iv is io n ...............
M iles o f
mid tra ck ........................................... ...............................................
'•ill.
............... .............................................................................

5 ,4 6 1 -5 2
7 1 -6 4
1 ,1 5 2 -8 1

5,406*07
1 ,0 9 7 1 6

55-4 5
5 -54
55 6 5

Total rati l i n e * ....................................................... ............................................

0 ,6 8 5 -9 7

0 ,5 6 9-3 3

1 16 64

5
3 70
3 ,0 7 0

5
370
3 ,0 7 0

728
179
519
118
7
1 9 ,1 2 2
290
9
3
4
7

723j
177
512
124
7
1 9 ,3 4 4
294
9
3
4
7

30
3

D ecrease.

$ 2 ,1 3 1 ,2 3 9 02
1 ,6 0 9 ,4 0 0 0 0

30
3

F. xt<i inti>n-s;b< ;iring m o rtg a g e b o n d s. In clu d in g b o n d s o u tsta n d in g
on M oi sve D iv is io n ...............................................................................................

$ 7 ,7 6 0 98

ph o pe k t v .

Mules of retries.......
M ile# o f r iv e r lint*.*.
M ile* o f o ce a n lin es
L o co m o tiv e * .......................................... ..........................
Biwtg'.w in:-. O J . n . » c a r s ................................

.
FaU m aa s le e p )# * and to u r is t ea rs (% In te re s t).
O otnpartm ent and e m o p o slto c a r s ..........................
F reight <ar* o f nil kind* ........... ................................
!t o # « s e rv ice ra t* o f all k in d * ....................... .
O cean stea m sh ip *......................................................
fla t tra n s fer s t e a m e r s .................. ........... ..

• )' • “

- let

1 steamers............ ....................

* » « s te a m e r* ................................................................
T og* ................
B ar***-....................
D e rrick h m U . . . .
R n d m b o a t s ,.. .
iUer r d o c k * ..........
n * ( t l < e r s . ..........

10
1
1
1

ftn u l .end in te r ,* t * reou nf, P r e lu d in g M ojave IH vition ,
■
■
debt
- .!:.<•
.
..........

........• itiler- <’
:

Aver**® bund* and school debt per mile of road ",.........................
A 'lo o a i Interest ch a rge per m ile o f roa d ...........

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

$ 1 3 0 ,6 9 7 ,8 7 4 0 9
7 ,4 2 9 ,7 7 0 7 2
2 0 ,1 9 2 30
1 ,4 1 9 7 6

66-10

5
2
7

'6
222
4

10
1
1
1

$ 1 3 4 ,5 6 6 ,6 3 5
7 ,3 3 5 ,4 4 0
2 6 .0 6 0
1 ,4 2 0

07
78
82
62

$ 2 ,1 3 1 ,2 3 9 0 2
9 4 ,2 1 0 94
131 48
$-80

Tlu> <fjtot»tin,s •ipenses of these companies have been charged with the cost of replacing all equipment destroyed or
•
worn out during the year.

W

LHE UHKUM11L &

P f 7

89B

The earnings of these companies o f which the net profits inure to the Southern Pacific Company, as the principal
■owner of their capital stock, have been :
This Year.

L ast Year.

*5,227-77

A v era g e m ileage (owned—rail, 5,196'93; leased—rail, 30*84).

Increase.

*5,160*26

Decrease.

67*51

E a r n in g s .

$7,220,,912
665.,249
476,,749
96. ,178
335.,234
21.283,,292
573,,127
55. 729
57, 518
342, 3 7
104, 034

77
58
65
57
47
97
89
36
28
92
87

$7,189,.711 72
670,,681 01
494,,211 11
85,,965 52
354,,198 42
22,335,,144 42
390,,812 63
53,,713 61
55,,132 21
379, 857 52
84,7 5 4 72

T ota l..
S team ships.

$31,210,386 33
2,259,237 08

$32,094,182 89
2,691,490 25

$883,796 56
432,253 17

Total transportation earnings_
_
Trackage and other rentals....................
Incom e from in v estm en ts.....................
B alance o f interest on open accounts.
M iscellaneous receip ts...........................
Interest on sinking-fund investm ents.
Proceeds from sale o f lands...................

$33,469,623
535.720
41.980
145,346

$34,785,673
571,947
59,073
86.609
6,798
107.886
134,087

1,316,049 73
36,226 93
17,093 95

Passenger earn in g s............................................................................
M ail.........................................................................................................
E x p r e s s ...........................................................................................................

B aggage.................................................................................................
Sleeping car..........................................................................................
Freight...................................................................................................
Oar m ileage...........................................................................................
L ocom otive m ileage.......... .................................................................
T e le g r a p h .......................................................................................................

Sun dry.....................................................................................................
R e n ta l.....................................................................................................

41
16
00
29

117,913 33
136.515 08

14
09
95
09
35
22
23

$ 3 1,20 105
* 10,213 05
182,315 26
2,015 75
2,386 07
19,280 15

$58,737 20
10,027 11
2,427 85

$5,431 43
17,461 46
18,963 95
1,0 51,8 514 5

37,499 60

6,798 35

$34,447,098 27

68,630 27
8,269 52
$32,458,245 69

x p e n d it u r e s

$23,097,772 47
904,959 58
733,746 29
25,003 53
7,747,960 11
23,755 67
297,886 22
37,633 45
36,170 83
53,544 22
6,168 77
$32,964,601 14

$506,355 45

$1,988,852 58
106,659 32

$2,787,473 93
20t ,365 61

$798,621 35
101,706 29

$1,882,193 26

E

$35,752,075 07

$22,351.917
1,000,354
728.957
11,229
7,842,753
23.282
357,913
64,936

T otal receip ts..

$2,579,108 32

$1,304,976 80

.

Operating expen d itu res.......................................
T a x e s ........................................................................
Trackage and other reutals..................................
Betterments and additions...................................
Interest on bonded d e b t.......................................
Interest on Stat^ o f T exas d ebt..........................
Sinking-fund contributions and earnings........
General administration expen ses......................
Premium on bonds purchased and canceled ..
Taxes aud expenses— Laud D epartm ent..........
M iscellaneous expenses........................................
Total expenditures.
S urplus...................................................................................
Net profits due Sonthern Pacific Co. under om nibus lease..
B alance.

52
05
99
74
7b
94
33
85

$134,208 01
666,611 41

Betterments and additions charged to profit and lo ss...
Betterments and addition* charged to capital accoun t.

$1,777.047 49

$95,394 47
94,793 67
**60,027 l’ i
27,303 40

$745,855 25
4,788 30
13,773 79
472 73
36,170 83

*15.086 05
2,100 75

$696,915 06
$134,208 01

$1,110,436 08

* Excluding 242*51 miles leased to A tlantic < Pacific R ailroad Co.
fe

The earnings and expenses per mile o f road operated averaged :
1896.
$6,401 05
83 62
103 51

Rental from A tlantic & Pacific R ailroad, for M ojave division.
Other receip ts........................................................................................

T axes and all other fixed charges, including interest on bonds outstanding against M ojave division and sinking

1895.
$6,728 64
84 39
102 54

$6,588 18
4,274 79
2,313 39

$6,915 57
4.467 83
2,447 74

1,931 25
382 14
160 14
222 00

Earnings over all fixed charges.
Betterm ents and additions.........
B alan ce............................................

1,908
539
343
195

52
22
74
48

The net results from the operations of these properties have been as follow s:
Y ear.

1896.............................................................
1895.............................................................
1894.............................................................
1893.............................................................
1892.............................................................
1891.............................................................
1890............................................................
1889.............................................................
1888.............................................................
1887.............................................................
1886............................................................
1885........................... .................................
T ota l.....................................................

Average
Miles o f
Road
Operated.
5,228 77
5,160*26
4,497-66
4,454*11
4,356*79
4,255*31
4.102*94
3,807*59
3,597*18
3,440*03
3,3u0*51

Gross E a rn in gs
and
Other Receipts.
$34,447,098
35,752.075
29,376,822
31,122,022
31,264,280
30,648,537
t29.116,235
t27,490,14'2
t27,977,264
(22,553,593
118,825,943
118,461,785

E a n iin gs over
Operat i ng Expt uses
and Fixed
Charges.

Betterments
and
Additions.

27
07
24
78
91
45
31
83
44
02
90
85

*$1,988,852 58
*2,787,473 93
1,824,003 46
3,0 36.5 31 43
3,513,893 57
3,757,468 44
3,102,371 26
1,735,031 72
1,662,268 38
1,332,697 58
365,282 87
1,985,252 82

$800,819 42
1,777,047 49
925.222 01
1,206,93170
2,246,094 32
1,868,263 67
1,354,864 06
1,675,878 19
2,202,828 58
978,014 31
403,560 78
444,204 62

$337,035,802 07

$27,091,128 04

$15,883,729 15

Surplus.

$1,188,033
1,010,426
898,781
1,829.599
1,267,799
1,889.204
1,747,507
59,153

Deficit.

16
44
45
73
25
77
20
53

354,683 27
1,541,048 20

$540,560 20
38,277 91

$11,207,398 89

4 Sinking fund oontribunons included in fixed charges but not paym ents to S. P. Co. fo r their share o f net profits under om nibus lease,
i Gross transportatio n earnings only.

There were expanded, for betterments and additions, since the Southern Pacific Company became the principa
owner of the capitaFstock of these companies, the following sums :
Expended in 1896.

Total.

Charged lo
Charged to
Capital a ccoun.t Profit and Loss.

$347,865 59
331,542 03
121,411 80

$347,865 59
318,745 82

T otal............................................................................................................................... $800,819 42
V I I —TRANSPORTATION EARNINGS.

$666,611 41

Pacific System lines, 12 years ending D ecem ber 3 1 ,1 8 9 6 ....................................
Atlantic Properties, 12 years ending Decem ber 31, 18 96......................................
Houston & T exas Central lines, 4 years ending D ecem ber 3 1 ,1 8 9 6 ...................
.

Total Expended
to Date.

$12,796 21
121,411 80

$6,445,083 53
8,963,087 47
926,528 27

$134,208 01

$16,334,699 27

The transportation operations and all statistics in respect thereto of the companies whose capital stock is owned
principally by the Southern Pacific Company, and companies whose capital stock is owned by others than the Southern
Pacific Company but which are operated by the Southern Pacific Company under leases to it, have been, since the organiza­
tion of the Southern Pacific Company in 1885, distributed as between operations of lines west of El Paso and operations of
lines east of El Paso. As the lines west of El Paso are all leased to the Southern Pacific Company and operated as one sys­
tem, they are known as the “ Pacific System” of the Southern Pacific Company. Certain lines in Texas operated by their
own organizations, and Louisiana, leased to the Southern Pacific Company, constitute the lines east of El Paso. For the
purpose of facilitating the comparison of operations with former years on substantially the same lines, the operations have
been re-combined and are reported for convenience under “ Atlantic Properties.” A similar combination has been made
of the operations of the Houston & Texas Central, Austin & Northwestern, Central Texas & North Western and Fort
Worth & New Orleans Railroads, and designated, for convenience, “ Houston & Texas Central Lines.”

THE CHROMITE.
A tla ntic
P ro p erl tea.

P a cific S ystem .

A ’f

® ita * at tt»&d

******-«*.—
*•—*•*’
M a il iwr&fcus* - - .'.* * * * * .* * .* ™ * — *********
JR*
emtu I - &k .. . - **■*••***----- ***»
-«...*#*..*♦ - *-**•*•*
Urfs^irng
—
• • « « « * * ~ * ' ' * “ *- *
F t t ig h f * * f *IW
K'*

1

rt> talk
if’xii-iry ^rajrttiojr^............................... .
**iiJ**MMl*

H ouston
& T exa s < ea t rat
H ines,

$9,46-8,312

1

5 4 0 ,4 $7
1 3 1 ,5 3 0
' '«
1 8,022,071
5 5 2 ,4 0 1
0 5 ,2 6 4
1 0 3 ,1 8 0
1 30 ,51 5
1 3 7 ,2 1 0

0
1
0
T

$ 1 ,7 8 1 .0 8 +
2 3 0 ,0 0 0
1 3 0 ,8 0 7
2 9 ,0 5 2
8 8,5 31
8 ,2 4 9 .0 1 8
■243,039
9 ,0 7 8
1 ,1 3 5
2 2 8 .4 3 0
, *

32
m
'
06
31
13
00
80
65

11

15
05
til
80
So

$ 7 2 9 ,0 8 3
8 9 ,9 9 9
0 4 ,5 7 8
12,4*25
2 .9 1 7
2 ,7 4 0 ,8 1 1
5 6 ,9 9 2
10,3 41

37
00
90
34
70
98
74
09
80
4 6 ,7 3 7 60
1 1 ,3 3 5 00

86
18
17
11
08
80

1

10 222
*

LXlV.

D u r in g the T ea r.

Jotul,

Jit crea se,

012*82

1,709*68

. *.**»«■ - - *-»•***

fV O L .

7,355*80
$ 1 1 ,0 7 9 ,5 7 9
1 ,475,631
7 3 5 ,8 7 3
173 ,01 8
4 8 7 ,9 7 9
2 9 ,9 1 2 .8 0 2
8 5 3 ,0 3 3
1 1 4 ,08 3
1 0 4 ,3 1 6
4 0 5 .0 9 2
1 0 4 ,7 6 8

Dc*-tease.

67*51
$ 4 3 ,5 9 7 87

53
7*2
92
06
111
00
23
39
91
48
45

$ 6 ,9 2 6 40
46^624 GO
1 6 ,1 0 3 0 8
2 4 2 ,0 5 1 8 9
2 ,1 6 6 84
3 2 6 70

14 2 8 5 29
1.4 5 .6 1 8 1 5

4 1 ,2 1 8 7 2
1 5 ,8 0 5 0 6

8
8

$ 1 1 ,0 0 3 ,5 0 9 11
2 ,2 5 9 ,2 3 7 08

$ 3 ,7 6 5 ,2 2 4 61

$ 4 6 ,4 0 7 ,4 2 9 6 0
3 ,2 ; 9,*237 OS

............. * 1 ,3 5 8 ,1 0 4
4 3 2 (2 5 3 1 7

$ 3 1 ,6 3 8 .6 0 5
32,507,11*9 67

8
8

$13,20*2,740 19
,

$ 3 ,7 0 5 ,2 2 4 < 1
5
3 ,9 2 7 ,8 2 4 23

$48,666,615 0 ,4 5 7 ,0 2 4 51

66
8

$ 1 ,7 9 0 ,3 5 7 83

$ 8 6 0 ,5 0 3 70
2-75

$ 7 5 9 .2 5 4 42
5*73

$ 1 0 2 ,5 9 9 62
4 *32

$ 1 ,7 9 0 ,3 5 7 83
3*68

* 3 1 ,6 3 8 ,0 0 5

Herrlc*.

Txtiml l
***.^ ,* .,* ***•<***.*— — ***
i s o a . , . .. ....................

. . . . .

11 022,000 111

66

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

i Is,- im r.
in ear mileage earnings results from a change in the method of accounting, made in order to state cor
r. h •
accounts bet ween the various interests. In former years the difference between the amounts received
r,,r „
from foreign lines and the wheelage paid to them was credited monthly, either to car mileage earnings, or
s irs, i t ■<
-xj---irs.-s of conducting transportation, according to the state o f the account. This year the total amount
i f..r wb.'. Ltge from foreign lines is credited to car mileage earnings, and the total payments to foreign lines is
,.|,atr, i i >• \)«*ns« <' for conducting transportation. The increase in the earnings for the year 1806 exceed by $8*,941 03 the
itu r .a s ? in o n rm iits charged to expenses for conducting transportation. The cars o f the Pacific System. Atlantic propt.ru, . and II Iv f. C. tine* are treated as cars of foreign lines when running on lines other than their own.
The passenger traffic of the railroads and ferries has been :
P iw e x a B a ,

t a ctile S ytltP t

H o u sto n <
£
Trxtis P en t rut
L in e s .

Atlantic
P rop erties.

-f I n cr ea se.
Total.

j
P a cific S ystem

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

-9 ,1 6 8 ,8 1 2 01 * 1 ,7 8 1 ,6 8 4 15

.$729,083 37 $ 1 1 ,9 7 9 ,5 7 9 53 -

2 0 ,7 5 3 ,9 4 6
1 9 ,0 4 5 ,9 1 4
9 7 3 .1 1 6
7 3 4 ,8 8 6
e»l .........
6 0 5 .7 0 1 ,6 0 S
4 9 6 ,9 2 4 ,0 9 0
7 8 ,1 8 5 ,8 4 4
30,59*2,034
c a n led o n e n tlifi
26*09
80*34
41*63
29*18
A v e r , iw llrs t.m veled b y earU p n « a ..
1*978
1*905 C ents
2**279 C en ts
2*383 C en ts
A v e r, re c e ip ts p e r p a ^ e n ir e r p er mil* C en t-

—D ecrea se.
A tla n tic
P rop erties*

$ 2 8 ,2 9 2 1 5 +

11. <g T. O.
L in e s.

$ 6 7 ,9 3 1 4 2 —

$84,54.0 45

+
4 5 2 ,7 0 2 +
1 3 ,9 3 8 6 3 ,5 6 9
+ 1 3 .7 4 4 ,3 3 ,’ +
2 ,1 4 7 ,6 * 5 2 4 ,8 4 9 .8 6 8
+
.1 0 +
1*07—
2*76
— C ents .0 6 0 + C ents .0 2 6 + C en ts .0 8 8

p,t,->/].* system - Earnings from through passengers increased 883,30? 54, or 8*73 per cent, and in number o f passengers
earth'd d.r> i<. ,,r ps.'i percent. Earnings from local passengers decreased 8134,793 21, or 3-14 per cent, and in number of
:
;
jassencers carried 159.(106, or 2*92 per cent. Earnings from ferry suburban passengers increased $28,293 52, or 2-40 per
cent, and m number of passengers carried 287,550, or 2*21 per cent. There was an increase in the average receipts per
passenger per mile from through passengers, but a decrease of 4-4') per cent in receipts from local passengers.
j : *•
.*'.-■
rti> —Earnings from through passengers increased §38,370 88, or 6-49 per cent, and number o f passen­
gers carried decreased +.379, or 5:7t» per cent, Earnings from local passengers increased $28,560 54, or 2-54 per cent, and
numb, r nf pa--c*nger$ carried 18,217, or 2*06 per cent. There was a gain in the average receipts from through passengers
of 3*3? | cent, but a slight loss in the receipts from local.
*.*r
The j tt-o-nc r earnings of the steamsbip.lines decreased §10,282 64, but of this sum §6,936 34 resulted from the. with­
drawal of the Nicaragua line, which was not operated during 1896.
/lia + .'i: <
i*
'*a*ml Linen - Earnings from through passengers decreased §36,041 83, or 16-35 per cent, and num­
ber of ! , i ( o carried 33,003, or 34*95 per cent. Earnings from local passengers decreased §47,195 81, or 7*99 per cent,
an i n nub., r of passengers carried 3 >.586, or 4*5§jper cent. The average receipts per passenger per mile were slightly greater.
The freight traffic of the railroads and ferries has been;
A-I n cr ea se.
FREIGHTI ’aci/ic System .

A tla n tic
P ro p erties.

H ou ston <£ Texas
C entral L in e s .

Total.
P a c ific S ystem .

E arn 1» * « © om n ifrcla l fre ig h t
E & raiug« cou ip a iiy fre ig h t ...
T o ta l

$ 1 7 ,8 9 7 ,4 9 2 05
1 ,0 2 5 ,4 7 9 61
$ 1 8 ,9 2 2 ,9 7 1

OommerHat: fr e ig h t.
HtSOBBher a t Um* c a r r ie d ..___
At
ten gth o i h a u l —
A v e r . m cfptMp&t ta n p e r m ile

66

5 ,3 8 2 ,3 2 7
1 ,4 5 5,51 5 ,7 0 7
M iles 270*43
C ents 1*230

86

$ 8 ,0 8 8 ,1 2 0 83
1 6 0 ,89 7 53

$ 2 ,7 4 0 ,8 1 1 98

$ 2 8 ,7 2 6 ,4 2 4
—
1 ,1 8 6 ,3 7 7 14 —

$ 8 ,2 4 0 ,0 1 8 36

$ 2 ,7 4 0 ,8 1 1 98

$ 2 9 ,9 1 2 ,8 0 2 0 0 — $ 1 ,0 7 7 ,0 9 4

2 ,6 5 5,74 9
8 9 5 ,66 6 .6 3 5
M iles 337*20
C ents
*903

1 ,1 5 2 ,2 3 8
1 9 7 ,4 2 5 ,3 9 7
M iles 171*74
C ents 1*390

9 ,1 9 0 ,3 1 4 (■
2 ,5 3 8 ,6 0 7 .7 9 9 —
M ile s 270*22 —
C ents 1*178 —

—D ecrea se.
A (lan tic
P ro p er ties.

H dt T. C.
L in e s .

$ 9 9 4 ,5 0 9 7 6 - $ 3 0 1 ,7 7 9 32 —
8 2 ,5 8 4 8 7 —
6 0 ,9 9 6 37

6S — $ 3 6 2 ,7 7 5

1 6 ,2 4 9 —
4 3 .7 4 6 ,6 5 6 M iles 8*96 +
C en ts * 0 3 0 —

69 —

1 3 4 ,6 2 4
2 4 .2 8 5 .8 1 5
M iles 7*57
C e n ts *009

+
+
—
—

$ 5 5 ,9 4 7 83
$ 5 5 ,9 4 7 8 3
5 7 .4 2 8
1,7 8 5.46 1
M ilo s 7*36
C en ts *040

»+ '
—Earnings from through freight decreased $593,942 44, or 7*06 per cent. There was, however, an in
**r**a ••if ((>• number • tons carried of 15,578 tons, or 1*27 per cent, but a. decrease in ton miles of 86,290,403 miles, or 3*51
•
.f
j«?r c-ut. Earning- from local freight decreased $400,567 32, or 3*82 per cent. The number o f tons carried increased 671
but i i f f *v;h a decrease in ton miles of 7,450,253 miles, or 1*60 per cent. The causes for the exceptional falling off
in ........
mi- system are found in the general business depression already referred to, and the partial failure of
t hr-., r, .;.. i * f.,n ,i a n d Oregon which are sold to Eastern markets. This shortage reduced east-bound through ship­
:s!j
ment . - , .
, ,r |n- - 4 j,er cent, and the loss to the communities of the commercial value o f these crops is'in part
r
*'** 1 ! 1 i i ss ini~)i<— local earnings. The average receipts per ton per mile decreased 3-68 per cent on through
1
,1
1
tr.rb'- and 2*27 per cent on local traffic.
1
'
Earning- from through freight decreased §844(482 94, or 4*84 per c e n t ; tons carried 103.187 tons,
••
' r cent. H ton «nih*« 12.M3.79? miles, or 1*61 per cent. Earnings from local freight decreased $57,346 8&, or 2*07
’nl
!*
n; i inn-curried 29,437 fills, or 8*84 per cent, and ton miles 11,772,018 miles, or 8*28 per cent. The decrease in
.... L '••
•
earnings resulted from the diminished east-bound shipments from the Pacific System lines, decrease in
liiiiiiM im-ri'iuunii-.-* and manufactured articles, and in the local freight earnings from the increased ipove-i'.
\ ■
! 1 1 • )"■ •
*'
*
.-iib-ation. The average receipts per ton per mile varie’d but slightly in the amount reoeived
■areinc- of ih*- steamship lines decreased $432,253 17. There were 23 less trips made by the New York line,
1 ll!
8M:Ew oh i [i earnings. The remaining decrease results from diminished coastwise tonnage and’
»s
■ d of lii Nicaragua line, which was not operated in 1896.
" • * ' ■■■'"' / "* - V change during the year in the classification o f through and local freight traffic to
>
\ f-gd fm the of.her proper! ie,- makes this data unavailable for comparison with 1895; comparisons are
X ;rbh r' cnr.i io the totnl freight traffic. The earnings have decreased $55,947 83, or 2*06 per cent, tons
" '■ ■ ■ ■ 'd ).«•;
"'■ ■
n t ,;; ml the ton miles 1,785,461 miles, or *92 percent. The effects of the short
so-: t ie richm* of the -m in crop in 1890, resulted in reducing the earnings of the Houston & Texas
E ” i t i i i v.-.-].. an improvement in the earnings of the other lines, principally in granite ship1. 1 '
1
tb”
m ireigbi «a ruing* fur the year to $55,947 83, The,earnings o f these lines were also affected
1 ' i ' 11'1 > ' otto?i and cotton seed products which has taken place o f late, and which has resulted
i
!
haul. Although the total tonnage exceeded that for 1895 b y 5*43 per cent, the average length
l!
1ho > ■ of the terminal and accessorial services, rendered by the railroad, in a single
•
.
:
».r'
is not affected by the length of haul, but is alike in amount for both short and
•
■s o, i In "bange i-, therefore, that the earm hgswill be reduced by the diminished length o f haul and
.-■
••''’reused by t he gi- uter number o f shipments to be handled.

THE

Ma t 8, 1S97.J

CHRONICLE,

V III.—OPERATING

895

EXPENSES.

The operating expenses of the railroads, ferries and steamships have been as follows :
Pacific System.

M aintenance o f way and structures.
Maintenance o f equipm ent................
C onducting transportation................
General ex pen ses................................

$4,666,330
3,207,341
10.462,418
2.13 7,193

Houston d
Tejas Hentral Lines.

Atlantic
Properties.

97 $1,374,732 41
21 1,016,973 84
20 3,929,605 32
49
805,538 47
1,805,515 29

;
^

4- Increase.

Total,

Pacific
System.

— Decrease.

A llan tic

H. d T. O.
Lines.

Properties.

$638,179 70 $6,679,243 08 — $453,719
352,412 98
4,576,728 03 — 274,311
1,306,703 48 15,698,727 00 — 218,369
259,261 25
3,201,993 21 -f- 129,800
......................
1,805,515 29

77
29
11
10

— $137,198
4
24,260
— 172,655
458,035
— 379,304

24 t $143,406 46
83
54,375 26
90
68,550 94
25 +
14,033 04
58

Total, 1896..................................... $20,473,283 87 $8,932,365 33 $2,556,557 41 $31,962,206 61 — $816,630 07 — $606,862 64 4 $143,263 82
64-71

Per cent o f oper. ex p en ses,) ail lines

—

64-76

67 89

64-98

3-84

6-36 4

5-94

The steamships have been operated for 79'93 per cent of their gross earnings, against 81T8 per cent in 1895.
The conditions which have enabled the companies to reduce their expenses so largely without impairment to their
property have already been explained. As an illustration in one item of the diminished cost of maintenance toward
which the large expenditures for betterments in past years have contributed, the cost of repairing and maintaining
timber trestling on the Atlantic properties, before and after renewals were made with creosoted lumber and ballasted
decks, is cited. Beginning with 1891, when the effect of these renewals became apparent, the cost per annum decreased
as follow s:
Total
expenses.
............................................................$317,848 42
.......................................................... 260,489 62
.......................................................... 201,216 32

1891
1892
1893

Cost p er
lineal foot.
$1-212
-975
-953

Total

C o s tp e r

expenses.
............................................................ $139,447 08
........................................................... 130,020 19
...........................................................
98,393 61

1894
1895
1896

lin ea l foot.
-494
-459
-316

There would have been a still greater reduction in the operating expenses but for the large amount expended on the
Southern Pacific Railroad of Arizona in improving its roadbed and track. The expenses on that property exceeded by
$326,075 83 the expenses for the year 1895, nearly all of which was expended in maintenance of way and structures.
M AINTENANCE OF W AY A N D STRUCTURES.

Atlantic
Properties.

1. Repairs o f road w ay ..................................... •2,149,367 08
174,3 m4 50
2. Bridges and culverts ........... ........................
410,471 48
3. Timber trcstiiu g ...................................
608.333 96
545,091 05
5. Ra Is and fastenings....... ............................
6 . Buildings, docks and w h arves ...............
512,160 77
82,001 24
184 520 89

$928 66

Total.

Pacific

— Decrease.

Atlantic
Properties.

S ystem .

$704,242
32,4 58
98,393
159,499
110.007
202,169

0 9 i $367,321 92 $3,220,931 09 — *2*3,621 13
04!
9,390 72
216,233 26
60,735 28
611
55,469 83
564,334 92 +
10,091 96
78
69,007 11
836,840 85 — 209.352 28
47
48,774 12
703.872 64 ; + 142,307 29
73'
62.359 84
776,690 24 i
97,437 25
82,001 24
113,980 52
67,961 7 9 1
25,856 16
278,338 84
2,463 12

T ota l ............................................................. $4.66«,330 97 $1.374.732 41
A v ’ge per m ile o f main and double track.

-f Increase.

Houston d
Texas cen tral
Lines.

. . .

Pacific
System.

- $102,189 45

f

67
27
10
02
54

H. d T. 0.
Lines.

A-

4-

i 5.564
26,633
20,146
12,283
7,756

-

$92,937
1,628
16,865
4,484
8,134
19,794

24,046 73 4-

44—
+
4-

29
55
24
19
36
83

8,230 38

$63J.l 78 711 $6,679,243 O —$453,719 77 —$137,198 24 +$143,406 46
H

$753 131

$1,041 38|

$894 98

$102 65 —

$75 16 +

$234 01

MAINTENANCE OF EQUIPMENT.

Repairs o f

Mian lie
Properties.

P acific
System.

L ocom otives............................................... $1,170,462 01
Passenger equipm ent - ...........................
601,680 89
Freight equipm ent ................................... 1,056,146 23
80,615 15
Floating equ ipm ent................................
37.699 18,
5. Rh p in ic h ln e r y .
6 . SuperlntenrteDce, clerks, and all other;
expenses..... .............................................| 260.737 75;

1.
2.
3.
4.

Houston < \
£
Texas
Central
Lines

$306,913
96,746
457.105
60,182
10,759

$133,835 26 $1,611,210 92 -$ 1 2 3 ,8 3 8 89
39,205 32
737,632 51 41.671,61
130,816 44 1,644,367 81 — 27,097 44
140,797 58 — 78,832 58
5,5 518 5
4,844 02
53,302 or |+

65
30
14
43
38

84,966 94

T ota l.....................................................$3,207,341 21 $1,016,973 84
Per cent.

43 ,711 94,

+ Increase.

Total.

Pacific
System.

389,416 63 —

— Decrease.

4 IIantic
Properties.

II cf T. 0.

Lines.

_ $53,720 72 + $17,673 57
6,357 15 4+
3,425 78
+ 57,467 06 4- 20,937 21
4 11,478 93
41,302 14
1,147 53 +

8,452 62 +

1,530 88 4-

11,036 56

$352,412 98 $4,576,728 03 —$274,341 29 + $24,260 83
$54,375 26
+
2-44
1824
—
7-88
4-

The increase or decrease on the several properties in the principal items which constitute these expenses are shown
above.
On the Pacific System the expenses include $99,253 76 for equipping 4,834 freight cars with automatic couplers, and
$87,300 for difference in 12 old sleeping cars changed into passenger cars. Six light 10-wheel freight locomotives were
changed into 6-wheel switching engines.
On the Atlantic properties the expenses include $18,590 for equipping 865 freight cars with automatic couplers and
$14,530 28 for 2 old sleeping cars charged off.
As locomotives anu cars are destroyed, or condemned as unserviceable, the cost of a new locomotive of the same type
and of a car of the present standards, is charged to the operating expenses and credited to the respective renewal funds.
The amount of the rolling stock included in operating expenses, or charged against the renewal funds, and other work
done which has entered into the above expenses, is shown in the pamphlet report.
CONDUCTING TRANSPORTATION.

FOK

1. L o c o m o t iv e s e r v ic e ........................

Pacific
System.
$5,157,638
488,863
1,193,363
1H7.296
2,090,523
536,338
710,626
97,767

Atlantic
Properties.
51 $1,665,849 38
116,820 95
07
528,165 99
21
150,643 22
94
96 1,055,103 76
143,335 56
04
250,134 56
81
19,551 no
66

Houston
d texas
Central
Lines.
$521,499
46,538
166,413
50,966
394,855

59
59
36
17
21

$7,344,987
652,222
1,887,942
388,906
3,540,482
679,673
1,060,313
124,197

119,552 53
6.878 03

.........

-D ecrease.

Pacific

Atlantic
Properties.

System .

T o t a l.................................................... $10,462,418 20 $3,929,605 32 $1,306,703 48
P e r c e n t .............................................

4 Increase.
-

Total.

48
61
56
33
93
60
90
59

$15,698,727 00

1

H. d T. C.
L ine 8.

- $ 4 i 6 ,7 7 5 65 — $33,138 61 — $18,334 67
12,561 16 —
7,504 59
1,045 52

—
—
4-

33,502
70,228
42,687
4- 14,675
+ 255,591
f
1,745

17
69
09
02
23
22

—
—
—

—
—

—

2,287
23,655
86,515
7,873
10,559
1,121

48
32
71
57
55
07

—

—

4—
—

73* 43
24,045 60
1.270 32
1 6 ,4 1 0 4 0

9,251 64

—$218,369 11 —$172,655 90 — $68.550 94
204

4-29

4-98

The increase or decrease in the principal items which constitute these expenses on the several properties are shown
above. The increase of $255,591 23 in car mileage expenses for the Pacific System lines arises from the change in method
of accounting put in effect on the system in 1896, as already referred to. This increase is offset by an increase in car mile­
age earnings of $249,578 57. A very considerable part of the reduction in the above expenses resulted from the close atten­
tion given by the transportation department to the loading of cars. The results obtained from the attention to this detail,
on the Pacific System lines, have been exceptionally satisfactory. Although the tonnage handled was but little less than
in 1895, the decrease being only 42,588 tons, or -64 per cent, and in ton miles 3-42 per cent, this tonnage was carried with a
decrease in revenue train mileage of 1,257,733 miles, or 12-39 per cent, and a reduction in loaded car miles of 10,206,248
miles, or 8-08 per cent, and in empty car miles of 6,814,210 miles, or 15-02 per cent. The average train load was increased
by 17-24 tons, or 10-24 per cent, over 1895.
On the Atlantic properties a reduction in tonnage of 6-21 per cent was offset by a reduction of 7-45 per cent in car
miles, and on the H. & T. C. lines, 4-18 per cent; additional tonnage was moved with 2-43 per cent less car mileage.

THIS ( ’H RONH’LE,

|Vo l . LX1V.

G E N E R A L EXPEN SES.
A (i cm tic
P rop erties.

P a r tfic
System.

!,
»,
3
4.
5,
&
1.
h,
*
&:

0

$ 31 3 ,4 7 1
5 8 1 .6 9 3
60,7 11
2 8 4 .4 9 5
1 8 8 ,0 0 8
2 1 ,7 5 3
1411,418
2 9 8 ,8 9 7
9 2 ,7 6 3
1 5 8 .92 0

AjUirir.j nf efflrers........... ..................................
« f ©IttTk*». .*««»•* *****«*«»•»* «*#***«•
........
F o N ifa o iw
........*................................
A iSr
.....................................
.................
B ees* o f nuUOUit* s a d o th e r p r o p e rty .
t^iCAi sortie© Ran
«,**.
^ w tia n e r r i f t d p rin tin g .
b e S d f f l w * , ( p ia w * !,...*»*,♦**«.................

07 $ 1 2 9 ,4 5 0 83
1 6 5 ,7 9 0 35
09
1 9 ,7 0 0 00
11
2 04 ,98 8 43
69
6 2 .9 2 6 76
55
38,8 29 84
09
14,815 61
58
7 2 ,9 5 6 17
53
64
5 3 ,3 2 3 75
4 2 .7 5 6 07
54

1

H ouston &
Terns
C en tra l
P in e s.
$ 5 0 ,9 8 1
8 9 ,4 9 1
5,501
2 5 ,2 0 1
7 ,7 0 0
9 ,1 6 7
5 .9 8 8
34.3 91
1 6 ,5 0 5
1 4 ,2 1 2

.............
Tolat,

+ lu cr e a se,
P a c ific
System .

21
38
26
10
87
29
50
10

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

66
8
8

11
42
03
22
18
22
69
SO
05
49

— D e cre a se .

A tla n tic I II. d- T. O.
I*rof)trtirc.
L in es.

— $ 1 3 ,6 6 7 65 + $ 6 ,0 0 s 71 + $ 1 ,7 9 5 0 8
+
5 ,0 0 3 09 +
3 ,7 1 8 9 7 +
310 1 7
+
1 ,5 1 7 50
3 6 1 75 23 8 0
+
2 6 ,4 3 8 55 + 34,3 71 87 1 ,4 7 0 7 0
+
6 8 ,3 9 9 22 + 1 3 ,4 7 2 82 +
6 7 2 41
+
3 ,4 6 2 57 +
4,3->4 2 2
4 ,1 7 0 11 +
—
2 ,2 9 5 Ol — 2 ,2 5 0 26 7 01
+
1 9 ,3 8 6 21 4 ,2 2 7 99 +
3 ,4 4 7 29
—
1 ,1 5 3 83 +
369 46 +
9 0 41
+
2 2 ,7 1 9 5 0 +
2 ,7 6 5 31 +
2 ,5 0 7 6 2

68

T o « » l ............................................... .................. $ 2 ,1 8 7 ,1 9 3 49 $ 8 0 5 ,5 3 8 47 $ 2 5 9 ,2 6 1 25 $ 3 ,2 0 1 ,9 9 3 21 4 $ 1 2 9 ,8 0 0 10 + $ 5 8 ,0 3 0 25 + $ 1 4 ,0 3 3 04
..... ' ........... j " ''
'
..........
(1+
6*47 +
7 -78 1 +
5*7 2
f V r *-•
***?

1

S T E A M S H IP S .
1895.

1 89 6 .
No. Trips

Am ount*

N o. Trips

142
24
56

$ 1 ,1 0 1 ,2 8 1 17
3 8 ,1 4 6 40,
147,016 13

If 5
24
55
23

Steasifey « A j# a w » - K « W ' ITork-K©w O rlea n s Lin©

1

♦
*

*
*

N ew Y ork -G a lveefcm i i o e —

”

•
*
*
*

6 ,1 2 7 26

Laid tip s te a m e rs ......................
9. M o r g a n C ity , c h a r t e r ....

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

2

2 7 ,1 8 2 9 0 1

I n crease,

A m o u n t.

22
'
40 |
08
82

8 ,4 2 1 39
1 8 ,3 1 1 41
1 0 ,4 3 2 58

Agency exprtoe*, g e n e r a l.. ............................

i

1

23
$ 6 ,1 2 7 26;
8 ,8 7 1 4 6 ;

2

.

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

53
73
44
81
36

$ 2 ,1 8 4 ,8 1 9 8 7

1,12200

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

$ 2 1 8 ,0 3 7 31

$ 1 9 9 82

7 6 ,7 6 4 62

1 4 ,5 1 1 27

9 9 ,2 1 3 2 4

1
....

A m o u n t.

1 0 ,4 3 2 58

2 0 ,3 9 4 3 6
269

$ 1 ,8 0 5 ,5 1 5 29:

223

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

<Vn. T rips;
23

20,3 94 36
$ 1 ,3 4 0 ,7 4 8 22
163 ,34 4 05
8 6 .8 2 5 82
9 1 ,5 4 0 0 8 1
1 2 3 ,0 5 7 1 2 )

223
....

D ecrease,

jiVo. T rip s A m o u n t.

46

$ 3 7 9 ,3 0 4 5 8

The steamers which received general repairs in 1890 were “ Aransas,” “ El Rio,” “ El Sol,” “ E lS u d ,” “ El Monte,
El Dorado." ■ ChaLmette," “ Excelsior," “ El Norte,” “ El Mar,” “ El Paso ” and “ Clinton.”
*
I X .—G E N E R A L R E M A R K S .

Considering the exceptionally unfavorable business conditions under which the railroads of the United States h ave
t» <-n operated during the year 1896 the net results o f the year's transactions do not compare unfavorably with those for
the ytar 1HH. There remained for the year 1896 a surplus from transportation earnings and receipts from all other sources
■ t* " tir.ipri. t:try companies, leased lines, and Southern Pacific Company, after the payment o f taxes, interest and all
if
other charges against income,
the sum o f ....................... ......................................................... . . ..................................81,789,553 58
against a surplus for 1895 o f........................................................................................ 2,185,223 84
showing a decrease in 1896 of..................................................................... ................. 895,668 76
Taking into the calculation of both years the expenditures for betterments and additions, which were exceptionally
larg» in IW 5. but which wore 8985,276 08 less in 1896 than in 1895, the net results for 1896 show a gain o f §589,607 83 over
U
188®.

The requirements for betterments and additions during the year 1897 are estimated at about §997,000. A considerable
part of thi- sum is for ballasting, sidings and the enlargement o f terminal facilities, in the expectation o f an improvement
in the general business situation during 1897.
Pr<*m the statement* published in respect to the year's expenditures for maintenance of way and structures and for

inside-ra!)S(- sat i-faet inn to me to observe the excellent physical condition of these properties on my recent trip over them;
■ hough there is u steady appreciation in their physical condition each year, their condition at the close of the year 1896
'fit
was particularly satisfactory.
tonnage movedi.ni-r tin ithe company'suues averageu 344,919 tons per nine oi roau, agamsi oao,wo I
lines averaged
mile o f road, against 356,005 ton miles in
■
— over all u t - s
i
1895. a ili-cr* a -< of 11 per cent. The average receipts per ton mile w as'lT2? cents against 1-150 in 1895, a decrease o f '033
•
ot
1<*ut. Although i his is but a .-light reduction, the reduction in freight rates on the lines o f the Pacific Systemlalone operntcii to redne th<- i-arnings of that system in 1890 by §443,006 61.
But lit 1 1 known nf t ho enormous sums involved in the reduction in rates of transportation which has taken place
1
s .•
■
IW . .•i• ». f h, tP 11 .»,.^ fy .. Iig_ Company.... organized and 1 ..... operations. " an able
v
l
- ..
..., .
..
.
.. . 1
.1 began . .. a2.... - In
.
.
T
_1t .
.
o n t h e ' p r o f rues -in
■•'5, when the Southern Pacific .. ..... ... was _
y publish d iji tin* “ Xurth .Vnicrioan Review” on the subject of railroad transportation and legislation, the
freight rate ; * n thirteen of the important railways, performing about one-third of the entire freight trans->
purtati
this country tvere shown to have averaged about fifteen per cent between 1885 and 1896.
iction in rat< •oi these properties between the years 1885 and 1896 have been much greater, as will be seen
owing state
nt of earnings, volume of traffic and rates received :
T otal.

P e r M ilo o f Monti O perated.

1885.
4,097*53

oI
Jj

&S?"****.........

1896.
0,743*04

$ 8 ,0 1 3 ,3 7 3 54
9 ,5 2 5 ,9 8 5
3 1 8 ,0 8 8 ,7 5 8

1885.

$ 1 1 ,5 8 0 ,4 9 0 10
2 0 ,0 1 9 ,0 0 0
5 7 5 ,1 0 9 ,0 3 4

1 89 6 .

$ 1 7 ,2 1 7 ,3 0 2 34
9*765,102
8 0 8 ,4 0 0 ,0 6 0

$ 2 5 ,0 8 5 ,0 1 2

8
8

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

ilZAZJL...; .......... ...................

IM P , '

r

$ 1 ,7 1 2 95
2 ,0 0 9
8 5 ,2 8 8

C ents 2*5192
r . i n .. £ Z n f k> rr,‘ tric-.............

$ 1 ,7 0 5 87
2 ,0 2 8
0 7 ,7 1 4

C en ts 2*0083

$ 3 ,0 6 5 20

$ 3 ,8 5 3 69

8 02
184 ,80 5

1 ,1 9 2
3 4 8 ,6 8 3

I n cr ea se.

C e n ts 1*1052

D ecrea se.

P e r C ent.

•42
46*40
25*95

$ 7 08
941
1 7 .5 7 5
C en ts *5109
$ 1 8 8 49

20*23
5*14

390
1 63 ,81 8

48*63
88*62
C en ts *8767

44*23

a a . v that the reductions have amounted to 30-28 per cent in passenger rates and 44*28 per cent in
:
r t h e
prppertit- have, in 1896, as compared with 1885. given to the public 25*95 per
V”
;v "
"
i ■* v at fi an incretiM' ingress earnings o f less than one-half o f one per cent, and 88-62 per cent
■ .
'*■' ; 1 ’
’ ’ “ '/
’ :,ti ittcmt in gross earnings of a fraction only over five per cent.
!r<
'P’ l'.'iiaily large for so siiort a period, but some part thereof lias resulted from the uni1 ' .Z ;
= r',i!,:n
'
Il;uni- r oi smaller fine-by which the service to the public was improved and the expenses of
' -'onv involved In these reductions amount to many millions. Had the companies received in
T ‘
'*_'’
”
' V i 1' “ !! ' : l n year- ego, the earnings for 1896 would' have been greater by §14,074,835 98, and at
. ' . V ';.‘. : V
‘
-1 greater. If we apply the rates received in 1885'to the traffic o f the subsequent
H
V . . ..
V
.
' ’ : ■th-piil.f]. not interested in railroad securities and the loss to the large public that
;
. . . ‘ /V '
, "■ ';"! ocis upini the railroads for employment, d irectly'or indirectly, has fo r'th e ’T1 years
/r I
V VVV
i
System lines, and to $50,135,884 79 on the lines of the Atlantic properties, a total
' ' *
" ’ ■
'
'
;ue l,r’ oabiy no other railroad properties in this country, and I doubt if elsewhere, where th ere-

THE CHRONICLE.

Ma y 8, 1S97.J

897

duction in expenses resulting from unification in their general operation of a number of lines, economy in working ex­
penses, and expenditures for improvements, by which expenses may be still further lessened, have contributed to the
public so large a sum in so short a period as on these properties. The amount of the reduction on the Pacific System lines
is exceptionally large, considering the much higher prices than other lines which they have to pay for fuel, wages and all
material entering into operation of their railroads.
Diagrams Nos. 1 and 2 in the report of the Controller show the freight rates in density o f tonnage on the Pacific System
lines and on the lines o f the Atlantic properties from 1885 to 1896. These diagrams show the large reduction in freight
raies which has taken place since 1885, and the loss in gross revenue resulting therefrom, as well as the gain in gross
revenue from the increase in tonnage. The important bearing of density of traffic on the earnings o f the railroads referred
to in the last annual report and on the determination of reasonable rates is graphically set forth in these diagrams.
The disastrous effects of the reductions in rates, to which all the railroads in this country have been subjected more
or less, have been evidenced in the large number of roads which were compelled to seek relief in the courts since 1893.
The shrinkage of capital, and the lessened returns upon the capital, which followed each reorganization, the large reduc­
tion in the number of employees on the railroads and in the amount of supplies purchased, imposed by the diminished
earnings of railroads, have demonstrated to the public how essential a factor the prosperity of the railroads is in the
general prosperity of the country. The change in public opinion toward the acceptance of this fact, referred to in the
last annual report, has been manifested in a greater sense o f justice shown toward corporate rights, on the part of Legis­
latures and Railroad Commissions in States which had formerly been extreme in their attacks upon vested rights. The
mutuality of interests between communities and the railroads and the many difficulties which enter into the question of
transportation are becoming better understood by those intrusted with the supervision over those matters. The Railroad
Commissions appreciate the desire of the railroads to deal justly with all interests, and m their annual reports refer to the
very small number of actual violations o f the law, and the alacrity with which the railroads have remedied complaints
brought against them, which, as they state, have almost invariably arisen from an innocent mistake o f facts and were
unintentionally committed. These changes all point to a marked improvement in the minds of the public toward the
transportation interests of this country.
The trend of public opinion is unmistakably in favor of uniform and reasonable rates, such as will enable the railroads
to keep their properties in good condition, improve and add to their facilities for the public service, and leave a reasonable
profit on the capital invested, in creating and maintaing these facilities. The limit o f the downward tendency of rates
has evidently been reached, if the owners of the railroads and their managers can agree upon the maintenance of reason­
able rates just and equitable to all. To what extent the owners and managers will agree upon such a course, or maintain
any agreements made between themselves in respect thereto, remains to be seen. In view o f the recent decision o f the
Supreme Court in the Trans-Missouri Freight Association case, the wish is earnestly expressed that the costly experience
o f the owners of railroads of the last thirty years will have shown to them some way by which a repetition o f their dis­
astrous experiences will be prevented. Means can certainly be found for operating the railroads o f this country, repre­
senting one-fifth of its entire wealth, so as to give some returns to those who have invested their money in them without
its being illegal or unconstitutional. However bad the laws may be, they have, I believe, never damaged the railroad
properties of this country as much as did the people who owned them, by their want of faith in each other, and disregard
of the engagements with each other, no matter how sacred their character may have been.
The experience of the majority of those who have had the management of railroad properties for a considerable num­
ber of years seems to be in favor of a modification o f the Inter-State Commerce Law, under which traffic agreements be­
tween railroads, sanctioned by that Commission, can be made enforceable between them, and all prohibitions and penal­
ties prescribed for carriers shall be made applicable to their customers and patrons. A large majority of the shipping
interests of the country also recognize the necessity of some such modification in order to secure uniform rates and pre­
vent unjust discrimination. Some action will probably be taken by Congress in the matter, and if the owners ol rail­
roads cannot among themselves maintain uniform and reasonable rates, suggested modification will probably be the next
best step for the preservation of their properties. Whatever amendments may be presented in regard to this matter
should, in justice to the railroads, include provision against unjust discriminations by railroads in the hands of receivers,
and the law shouldalso be amended to afford protection todhe railroads as well as the shippers. A restriction should be placed
upon the license to build new roads where the building of such lines is without any proportionate benefit to the public.
The extent to which the general prosperity o f the country has been harmed by the unlicensed and indiscriminate construc­
tion of new lines lias been recognized by the Railroad Commissioners o f the State of New York, and in several o f the other
States, and they have declined to sanction the construction of new roads where the building of such will do more harm to
vested interests than benefit the public. This provision for the protection of existing property and against the waste of
new capital which finally comes out o f the public, should be embodied in the laws of the Inter-State Commerce Commission,
for the equal protection of the interests committed to them. Until something is done in this direction the owners of rail­
roads, or those who manage them, will have to be more reliable than they have been in the past, and maintain their rates
which will be just and reasonable to the public, and leave a fair return to those that have spent their money in creating
these properties. If this is not done there is no way of keeping the railroads out of the courts, and that is a condition of
affairs, I believe, where everybody loses, that is, the public and the owners o f the property, and no one gains excepting
the receivers and the courts.
The prospects for large crops along the lines of these properties are quite encouraging. They are particularly promis­
ing in California where the failures in crops and low prices for several years have temporarily checked the steady devel­
opment of the resources o f that State. With higher prices for their products, and large crops which now seem assured,
we may reasonably expect a general improvement in business, and, as a sequence, also in the earnings of these lines.
The Board desires to acknowledge its indebtedness to the officers and employees of the company for the satisfactory
results of the year, which are due to the faithful and efficient discharge of their respective duties.
Respectfully,
C. P. HUNTINGTON,
President.
The income from operations shows a net increase for 1896,
compared with 1895, of §19,952 34. Whilst the gross earnings
decreased $518,673 90, there was a decrease of $552,344 42 in
ABSTRACT REPORT FOR YEAR ENDING DEC. 31, 1896. expenditures, as follows : Operating expenses, $386,622 97 ;
taxes, $8,719 84 ; betterments and additions, $90,861 95 ; in­
The following statement shows the transportation opera­ terest on bonded debt, $38,952 50 ; U. S. Thurman A ct re­
tions of the company for the year, and embraces receipts and quirement, $3,816 20 ; taxes assessed, but not due until 1897,
disbursements reported by the lessee for account of the trans­ $17,500 96. There was an increase of $7,948 14 in expendi­
portation of the company, and receipts and disbursements tures for rentals.
made directly by the company ; also charges for taxes and
EARNING S AND EXPENSES.
other liabilities remaining unpaid at the close o f the year, but
In c. o r Dec.
which are charges to the transportation operations for the year:
Earnings—
1896,
1895.
1896.

CENTRAL PACIFIC RAILROAD COMPANY.

/
—Years ending December 31.—
,
Receipts—
1896.
1895.
Tne. or Dec.
Gross trans. earnings... $12,453,951 62 $12,903,328 30 D. $509,376 68
O perating e xpen ses___
7,7 58,9 014 0
8,145,584 3 7 /1 . 386.622 97
E arnings over operat­
ing expen ses................ $4,694,990 22 $4,817,743 93 D. $122,753 71
Trackage te other rent’ls
73,132 11
82,329 33 D .
9,197 22
Total receip ts..........

$4,768,122 33

E x p e n d ilu res—

T rackage& otlier rent’ls
Betterm’ nts < additions
fe
T axes paid.................. . .
Taxes ass'd.but not due.
Int. aco. on bonded debt’’
Contributions to com ­
pany's sinking funds..
XI. 8. Thurm an A ct re­
quirem ent....................
Total expenditures.
b eflolt from operations

$125,754 09
146,491 74
3 4 2 .3 2 1 2 0
128,557 44
3,294,150 00
235,000 00
644,573 83

$4,900,073 26 D. $131,950 93

$3,719,995 78
665,438 63
214,454 02
58,904 72
13 5,1 1 9 1 2
7.193,855 40
253,018 06
58,745 61
43,265 03
54,056 67
57,098 58

$3,720,266 36
D.$0,270 58
6 6 1 ,9 -6 95
7.3,45168
239,043 63
D.24,589 6 l
54,744 58
7.4,160 14
131,956 63
7.3,10249
7,724,197 30 D .5 3 0 ,3 4 1 90
205,985 78
7.47,032 28
58.206 28
7.539 33
44,919 00
D.1,053 97
55,000 89
D.944 22
61,020 90
D .3,922 32

Total earnings.........$12,453,951 62 $12,963,328 30 D. $509,376 68
$117,805 9 1 7 .
$7,948 18
Operating expenses—
237,353 09 / 1.
90,861 95 Maint. o f w ay & struo.. $1,476,657 80 $1,623,257 71 D . $146,599 91
35 1,04 104 /1.
8,719 84
Maint. o f
1,336,86438
1,339,477 92
D. 2,613 54
140,058 40 / 1.
17,500 96 C’ nduct'g equ ipm en t,...
iraueportat’n
4,030,258 80
4,293,777 47 D.263,518
61
3,333,102 5 0 /1. 38,952 50
General expen ses..........
915,180 36
8 8 9,07 127
7.26,109 09
235,000 00
...................
Tot. operating ex p .. $7,758,961 40 $8,115,584 37 D . $386,622 97
648,390 0 3 /1 .

3,816 20 Earnings over op. e x p ..

$4,916,848 30 $5,068,751 57 D. $151,903 27
$148,725 «7

Passenger........................
M ail...................................
E xpress............................
E xcess baggage..............
Sleeping car....................
Freight ...........................
Car m ileage.,....... ...........
Locom otive m ileage___
Telegraph.........................
Sundry..............................
Rentals, e tc ....................

$168,678 31

D.

$4,094,990 2 2

$4,817,743 93

D.

$122,753 71

* Interest on bonded debt paid by lessee during the year am ounted to
! the sum of $3,288,280, as shown on table 4 o f the report o f the South­
$19,952 34 ern Paciilo Company.

THF,

8& 8
r n ffitfi

!*•*.
ilM f

■ m>" 1 tu-t -b-'(VU -v- o f $6,31(1 58• W h ils t
:

a !)

CCViai.*v i

i H RO M ^l.F,

of p u » o
$4 ■ •! f!-1
*

e a r n i n g s . # J, lOS te‘ :
m ile a g e . A
T

of
IT I n t h r o u g h , t h e r e w a s it
in In -ni b u s in e s s
M a il e a r n in g * in baggage
1 4 ; s le e p in g e n r
( m i! -.»k <-, § 1 7 ,0 8 2 2$ ; a n d l o c o m o t i v e
S

O

„

. ,

15,, ;::i ?

1 ,-a ,) a m i § 1 1 0 .5 1 1 0 0 in c o m p a n y f r e i g h t , i m k 11
*
!’
i n g a tv t ;* i ' ■ <"* w . s t l t«>. T h « n > w a s a l s o ft i l e o n s t s e o f 8 1 ,e a r n i n g * . 8 8 ,0 3 3 3 2 in e a r n i n g * f r o m r e n t ­
65a 0! j j,
e f i t u ih i» » J .fs ,V {o ., a n d 80-14 3 2 i n m i s c e l l a t t o u s e a r n i n g s .
r
a te o
,.f t h e fo r e g o in g e x p e n d it u r e * , a llo w in g a n e t
Tl>.
i :- j U 'C j M i n o}M >>ratingnxpcn*t*K . w i l l b e f o u n d in
d oor*
ta b s ,- J , . f t h e r e p o r t , o f t h e S e c r e t a r y a n d A u d i t o r .
p e n w s s jie r m i l e o f r o a d c o m T h e a e x -r a g • rtt r u in g * a n
j « r r xx >th 1—*'» a s f o l l o w s :
B ttr t m t 1 30 5 .
ism *.
$ 3 7 4 03
fO .5 3 4 31
03
■Qm*m f*e$? S * !^ , - - ,, >
j
. •
»>«4- 35
5 ,7 0 « m
5,1100 9 l
90 2 S
3 ,5 1 3 3 7
S A M 09
E#ftiirsg*i. tW er *MuiTMtiU£
«**>
$.,
113 4 1
3 ,7 2 7 00
iui4 »M
f i t o d e u a fin # . a tiu-.5 m

1

A SSETS A S O L I A B I L I T I E S .
Til* a s s e t * a n d l i a b i l i t i e s o f t h e c o m p a n y a r e s h o w n in d e d e t i u l i!: t a b l e A il l t h e r e p o r t o f t h e S e c r e t a r y a n d A u d i t o r .
D u r i n g t h e y e a r .$-t.3S5,<Hh.i c e n t r a l P a c i f i c fi r s t m o r t g a g e
l>,»n
' rse> o , C a n d l ) . m a t u r i n g .J u ly ! . 189*1, a n d $ 3 ,9 9 7 ,00U e f •veri.-s K . m a t u r i n g J a n u a r y t 1897, w e r e e x t e n d e d ,
w i t h s h e c o r iM -iit o f t h e h o l d e r s , t o J a n u a r y 1. 1898. a n d t h e
i n t e r e s t r e d u c e d t o f i v e t-~ ! p e r c e n t p e r a n n u m .
>
L an d gran t
b o n d s Mi 1870 a m o u n t i n g t o t h e s u m o f $ 1 1 0 ,0 0 0 w e r e r e
d e e m e d d u r in g t h e y e a r.
E X IT E D STATE S G O V E R N M E N T ACCOU N T.
T h e a c c o u n t s w it h t h e G o v e r n m e n t , a r i s i n g f r o m it s iss u e
o f iv .v .H l, i " s u b s i d y " b o n d s , a r e a s s t a t e d b e l o w :

s c v.:

F< s o n* th e Usrrtui S tates T ubamjuy :

By tra in js .F ,a lie n si-rvtc,-........................ ..651,884,1119 86
B y I - , . ; p a y m e n t-. ---------------- -----------------6 3 3 3 9 2 48

a n d it is h o p e d t h a t s o m e p l a n w i l l b e a d o p t e d , a s a l a r g e
p a r t o f t h i s i n d e b t e d n e s s w i l l l u n t n r e o n J a n u a r y 1, 1838.
R e s p e ct fu ll e s u b m it t e d .
I S A A C 1.. R E Q U A , P r e s i d e n t .
G E N E R A L B A L A N C E S H E E T . D E C E M B E R S i, 1838.

,

Freight ' amines show a decrease of $819,884 50 in through,

[VOL. LJXIV.

4 SSKTS.
1835.
18116,
C o st o f ro a d an d fra n o lilso s................ $ 1 0 0 , 3 2 9 ,0 0 " 23 $ 1 0 0 ,4 1 8 ,4 1 1
N ow w p ilp tm m t......................
...
1. * 3 1 ,8 1 7 a s
1,5b 1 .8 *7
9 ,9 6 0 .1 8 3
S in k in g f u n d .....................
10,,7 23.312 71
1 .0 8 7 ,1 0 9
s in k in g fu n d ...............................................
l ,7 7 0 .4 2 7 (13
1 1,9 1 9 ,0 4 9
U. S. G o v e r n m e n t ...................................
15,-004,2 ; 3 21

C u rkkst A s se t s :

10.025 58
2,699 00
379.110 27
160,415 00

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

163,000 00

Cush o n b a n d ..............................................
B ills rebelxm iile...................... ................ .
K n n iiiive ini on) li‘ c:iiil i iy ie a a e e ,.—
C o u p o n s dun J a n . l , x s w o ....................
O gdon O n . lly . A D e p o t C o. 1st tuort,
s
5 p. r. b on d s, fa r e v a lu e $ 1153,000.
E m o tio n a l U. 8. 8 p . c. b u m !...............
S ou th ern B aciflu C o m p a n y ..................
M aterial f o r sim p s ...................................
Oil a n d w a ste ..........................................
Coal ........ ....................................................
W ood .............................................................
M aterial fo r r o a d w a y ............................
S le e p in g c a r lin en .................................

1 6 3 ,0 0 0 0 0
120 0 0

120 0 0

257, 31
782,913
13,5(58
147.206

22
62
40
99

140,149 03

1 .008,161 67
8 5 3 ,0 6 3 0
9 9 ,3 4 1 7 5
7 2 ,9 0 5 7 0

1 ,0 6 8 ,1 6 1 6 7
881",120 3 9
9 6 ,5 9 0 9 0 *
7 2 .9 0 3 7 0

2 ,3 3 0 0 0
1 8,7 33 93

2 ,3 3 0 0 0
1 9 ,0 0 6 4 0

23

8 0 ,0 0 0

C.isrrNiiKNT A s se t s :

0
0

8 0 ,0 0 0

U n a d ju sted a e c o n u ts .............................
c a p it a ls t o jl(, C oos B ay . O r e g o n ,C o a l
Co,, fa c e v a lu e $ 3 ,4 4 9 ,5 0 0 ...............
O thei s to c k s ..............................................

3 ,4 4 0 5 0 ,
168

3,449 50

0
0

168 00

L IA B IL IT IE S .
C a p i t a l St o c k : .
1 89 6 .
A u th o riz e d issue . ..$ 6 8 ,0 0 0 ,0 0 0 0 0
L e ss a m o u n t held in
c o m p a n y 's trea t y
7 2 4 ,5 0 0 0 0
J ------------------------- $ 6 7 ,2 7 5 ,5 0 0 0 0
F u n d ed d e b t ........................... . — ........
5 9 .8 6 5 ,0 0 0 0 0
U nited S ta tes b o n d s ......... .......... ..........
2 7 ,8 3 5 ,6 8 0 0 0
C okuknt Lia b il it ie s :
B ills p a y a b le -T ru ste e s la n d g ra n t
4 0 0 ,0 0 0 0 0
•mortgage.....................................
3 0 2 .8 0 2 24
A cco u n ts payable..........................
4 6 ,4 2 5 0 0
U n cla im ed co u p o n s .. ..........................
3 6 .1 2 3 0 0
U n cla im e d d iv id e n d s — ----------- 2 7 0 ,6 7 7 50
In te re s t o n b on d s a ccr u e d t o D e c .3 1 .
1 2 8 ,6 5 7 4 4
T a x e s assessed b u t not- d u e ................
S outhern P a cific C o m p a n y ....................................................
C om p a n y s in k in g fu n d s, u n in v e s te d
4 6 0 ,4 3 0 2 4
CONTlXOE.XTLlAlilLITIES:
R e n e w a l fu n d fo r lo c o m o ti ves & c a rs
2 8 1 ,2 4 3 02
L a n d g ra n t a c c o u n t — ................ .........
1 ,3 4 6 ,6 4 5 71
B a l a n c e o r ACCOUNT*.
................
Protita-nd o s s , . ......................
......
1 9 1 6 ,0 4 2 41
T ru st fu n d fo r re d e m p tio n o f la n d
___
g r a n t b o n d s ..............*................ - .........
* <<
L a u d g r a n t b o n d s o f 1 8 7 0 ca n c e le d 7 ,5 1 2 ,0 0 0 0 0
U sed f o r sin k in g fu n d s o f th e C o ...
1 8 ,8 0 0 ,1 3 3 55
U sed fo r U. S. req u ire m e n ts ...........
1 5 ,5 6 4 .2 2 3 21

$ 2 0 2 ,8 7 5 ,9 2 6 96

1895.

1

--------------------

8.492,589 98

T o t a l I ■ cr e d it o f co m p a n y D ece m b er 3 1 .1 8 9 0 .........$ 1 5 ,5 0 7 ,0 5 5 13
i
T in - s u i t i n g f u n d in t h e U n i t e d S t a t e s T r e a s u r y w a s c r e a t e d
b y ; in • T h u r m a n A c t " o f M a y 7, 1878. T h e S e c r e t a r y o f t h e
T r e a s u r y . :i> c u s t o d i a n o f S h is f u n d , h a s m a d e i n v e s t m e n t s
i n U n i t e d S l a t e s b u n d s a m i fir s t m o r t g a g e b o n d * o f t h e r e ­
s p e c t i v e e .u n p a id ,- s w h o s e l i e n is p r i o r t o t h a t o f t h e U n i t e d
S t a t e * , a n d in v a r i a b l y a t a c o n s i d e r a b l e p r e m i u m . A s s h o w n
b y th** f o l l o w i n g s t a r - - m e a t . t h i s p r e m i u m a m o u n t s t o t h e
s u m , , f § ld fi:s ,«K S b't, w h i c h r e p r e s e n t s a l o s s t o t h e c o m p a n y ,
a * m o s t Hi t h e b o n d s n o w i n t h e f u n d w i l l s o o n m a t u r e a n d
K* p a y a b l e u t p a r . T h i s s t a t e m e n t a l s o s h o w s t h e c h a r a c t e r
o f th e v a r io u s in v e s tm e n ts .
JVar o u t i n g D ecem ber 3 1 .1 8 9 6
. y ............................. ....................... .. $5,518.1,12 34
1m - r v ■1 »m t prem ium r e c e iv e d ...................... $ 2 ,8 3 9 ,7 4 8 88
* prem ium p a i d . .......................... ............... 1 .3 4 3 ,8 9 8 15

1

---------- ---------- 1.105,852 71

$ 6 7 ,2 7 5 ,5 0 0 0 0
5 9 ,9 7 5 ,0 0 0 0 0
2 7 ,8 5 5 6 8 0 0 0
4 0 0 .0 0 0
3 4 5 ,1 3 4
3 9 180
3 9 ,8 6 3
2 7 8 .0 3 2
1 0 ,0 5 8
9 7 .8 * 6
4 9 8 ,7 0 7

00
12
00
0O
50
40
11
07

1 4 0 ,5 2 8 6 4
1 ,5 4 8 ,8 4 8 22
2 ,1 8 3 ,7 1 3 6 7

6
0

$ 2 0 4 ,1 0 4 ,4 1 4 97

00

1 4 5 ,1 6 5 3 4

145,165 34

1 .4 9 5,85 2 71

Iim u u t S T R k i - u d u v C o m p a h y :
15) iran-iHC-iaiHm — v I r e ........................... $ 7 ,8 3 4 ,3 0 6 72
T
B y ca sh h r five p er c e u t o f n et e a ra iu g s ..
0 5 3 .2 8 3 26

29
90
41
05
81
03

B efkkubo A sse ts ,

D u e fro m U .8 . G ov 't, f o r tra n s p o r ta ­
tio n o n n on a id e d a m l le a se d ro a d s
o v e r all req u lrem en ta ..........................
L a n d e m iir a c t s ........................................
B ills r e c e iv a b le .........................................
O g d en U n io n Ry. ,fc Depot. C o ..........
Cup. s tool!.O oll'a x .v F o r e s t H ill C om m erotftl C
fa c e v a lu e $
, ( 0 0 ....
4 0 0 a cre s o f land In C oos C o., O regon
C ap ita l s to c k in riv e r tra n s p o r ta tio n
lin es, f a c e v a lu e $1 liO.OUO................

$ 2 0 4 ,1 0 4 ,4 1 4 9 7

Tct.v: in slaking l a n d ...................... .................................$7,014,465 05

09
79
57
00

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

185.78$ 37
14,900 03

$ 5 ,5 1 8 ,6 1 2 34

la te r ,‘ M an d p rem iu m s r e e l! v e d ..............$ 2 ,8 3 9 ,7 4 8 SO
L « m prem ium s p a id ......... .............................. 1 ,3 4 3 ,8 9 6 15

42
38
57
47
38

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

47
00
38
38

$ 2 0 2 ,8 7 5 ,9 2 6 06-

T o t* ! (u f u u d ............................................... .................................$ 7 ,0 1 4 .1 6 5 05

lox rx tr.l i,y tlie Secretary o f tile T reasury;
U (tired sta tes live |s-r re n t b o n d s o f 1894 $ 1 2 5 ,0 0 0 <10
t'u b u i I'xrini! ft » U » p y b o n d s ....................... 3,069.0(10 0 0

Lett Sr.»i hraivb Onion lteoide UR. bonds.

PLAN OF REORGANIZATION

163.000 04

K * o a » - P « l « e R ailw a y b oad a ...................
o f 'u x <4*5 A P a r t is R a ilw a y b o n d * .. .
H .n r rn I*.,- . ,. Hallroiid b u n d s ,...............

1

('M b iia tn re * l«N t------T otal in fu n d .

....

3 0 0 .0 0 0 0 0
3 1 ,0 0 0 0 0
117 ,00 0 0 0
-$ 3 ,8 0 6 ,0 0 0 00
......... ................................ 3 ,2 0 8 .1 6 5 0 5

OF TUB

CHICAGO & NORTHERN PACIFIC RR. CO*.
AN
1>

Chicago & Calumet Terminal Railway Co.

........................... ........................................... $ 7 ,0 1 4 ,4 0 5 05

P u r s u a n t t o a n A c t o f < C on g ress a p p r o v e d J u n e 19, 1878 (20
Jfttti. th>* U n i t e d S t a t e * C o m m i s s i o n e r o f R a i l r o a d s h a s
m a d e *n a n n u a l e x a m in a tio n o f th e a c c o u n t s o f th e c o m p a n y
• '(■> -i< t ‘ - n u i n e d t h e a m o u n t s c u r r e n t l y d u o t h e U n i t ’d S t a t e s
# n d * r Sin- p r o v i s i o n s o f t h e A c t s o f 1862. |K>!4 a n d t h e Thur­

Ma

C om m ittee:

ie c o u n t s is s h o w n i n t h e f o l l o w i n g s t a t e ­

Tix*rrnrting/M
t#m1>*r 91—
A n n u al
I'llrem ru l under th e Thur*
"<»*• A r i . ......................... ......................
A pple-abb* as fulibxrx:
T c f; ic.N vl s
, an il lb tcre* t ..
T o ■: r.xCi.,: p itid Its 1,1. s , T reftsu ry . . . . .

I sOii,
$ 0 4 4 ,5 7 3 8 3

350,173

m

204,109 25

1805.
$ 0 4 8 ,8 9 0 0 3

D e p o sito ry :

3 '3.251 11
2 0 5 ,1 3 8 92

U N IT E D S T A T E S T R U S T C O M P A N Y ,
4 5 W a l l St u k u t ,
N ew Y ork.

fty fw e b S # t « Hits V , M, <«ovcrimilSKt to
' I V c 31, v i f f s-'ttlcxnrn t- a itii th e

U. X * '(fidiisi.init of H*Uroads:
,
Fort/, a xeRil* bf I ininrel......

40

$9,7 39 . t o o
3 .8 2 4 ,7 5 0 91

$ 9 ,3 8 9 ,2 9 2 82
5 ,5 3 0 ,3 5 6 5(1

T o t a l . ... ........................................... .. $ 1 -V »6 4 ,2 2 3 21

$ 1 1 ,9 1 9 ,0 (9 38

F or •inking fu n d in U. (i. T r c w u r y . . . .

Y m t r f t ir-l i s - f i l l u n a b l e t o r e p o r t a n y d e fin ite * a c t i o n o n
th*- p o r t e d G o n e r *
lo o k in g to w a rd th e s e ttle m e n t w it h th e
U n ite d S ta tv » O ov* r n m e n t fo r n c e o u n t o f th e b o n d s a d VAfH 'yd in a id o f t h e c O B s t r u e t iu B o f t h e r o a d . S e v e r a l
m e t h o d s f o r t h e ** i f l e n i e n t o f t h i s m a t t e r a r e n o w p e n d i n g .

4 t h , 1897.

J . E D W A R D SIM M O N S,
S IM O N S T E R N E ,
H E N R Y BUDGE,
W IL L IA M M ERTEN S,
R O M A R T IN ,
A L F R E D S, llE I D E L B A C H ,
m
A L L E N B U T L E R , Jn.
C o u n s e l S e c r e t a r y :
S IM O N S T E R N E ,
G E O R G E P. B U T L E R ,
W M A L L E N B U T L E R , J r .,
5 4 W a l l Stju - e t ,
N e w Y o rk .
N ew Y o r k .
J O H N V . W IL SO N ,
C h ica go.

man Act -if 1$78.and payments have been annually madeor
p f -. i-1— by the company for the amounts so determined. A
*I
s u m m a r y o f th<*w
m ent :

y

To

the Ilohlers of Unite / Sta'es Trust Company Certiffadtesfor Chie«ao & tfovCum Pacific Bands :

I n a c c o r d a n c e w i t h t h e p r o v i s i o n s o f the- B o n d h o l d e r s
A g r e e m e n t u n d e r w h i c h t h e r e h a v e b e e n d e p o s i t e d § 3 8 ,7 2 3 ,000 o u t o f $ 3 8 ,8 5 5 ,0 0 0 C h i c a g o & N o r t h e r n P a c i f i c B o n d s , t h e
B o n d h o ld e r s ' C o m m i t t e e h a v e f o r m u la t e d a p la n f o r t h e r e ­
o r g a n iz a t io n o f th e p r o p e r t y , a n d s u b m it th e sa m e h e r e w it h
fo r y o u r r a t ific a t io n .

Ma t 8, 1897.]

THE CHRONICLE

The proposed Plan of Reorganization contemplates the
formation of a new company, to be called the Ohicaoo Ter­
minal Transfer Railroad Company, which shall acquire all
the property of the Chicago & Northern Pacific Railroad
Company and the Chicago & Calumet Terminal Railway
Company, the latter property being a belt line which has
always been operated in connection with the Chicago &
Northern Pacific terminals.
All the securities of the Chicago & Calumet Terminal Rail­
way Company are held by the managers of the Northern Pa­
cific Reorganization, who have entered into an agreement
with your committee, subject only to your own ratification,
whereby, in connection with full and satisfactory settlement
of all claims and accounts between the two companies and
their respective receivers, the $2,500,000 Chicago & Northern
Pacific Bonds claimed by your committee to have been im­
properly diverted, are to be delivered by the Northern Pa­
cific Reorganization managers to your committee, and
$6,000,000 Calumet bonds and $5,000,000 Calumet stock (consti­
tuting all the securities o f the Calumet Company) are to be
handed to your committee to be delivered to the new com­
pany, the Northern Pacific reorganization managers receiv­
ing securities of the proposed new company equal in amount
to tho- e to be delivered under the reorganization in exchange
for $5,000,0 0 Chicago & Northern Pacific bonds.
The adoption of the accompanying plan o f reorganization
will depend upon your previous ratification of the settlement
above outlined. In the opinion o f those most competent to
judge, it is considered of great importance that the new
company whicli is to acquire the Chicago & Northern Pacific
property should also acquire the property o f the Calumet
Company, both on account o f the large volume of traffic in­
terchanged between the two roads and on account o f the
strategic position which the Calumet holds as a belt line
about the City of Chicago. The Committee ask for your rat­
ification of this settlement, believing it to be for your best
interests.
It is nearly four years since this Committee accepted, at
vour request, the supervision of the affairs of the Chicago &
Northern Pacific Company. During that time they nave
'ven their best efforts to the settlement of the many probms arising out of the insolvency of the Company. Nearly
all the income of the property since the receivership has
been absorbed in completing the construction begun and
left unfinished by the insolvent company, in acquiring title
in fee to property necessary to the right of way, and in com
leting the purchase of property bought and partly paid for
y the old company. With the payment, provided for in
the plan, of $206,500 due July 1, 1897, in final payment for
the Sturgis tract of 380 acres, the Receiver will have dis­
charged the last of such obligations, and the new company
will start free from all encumbrances and obligations of the
old companies, except the $650,000 purchase money mort­
gage upon the Grand Central Passenger Station and the
$394,000 Chicago Great Western bonds.
The extent of the combined properties to be acquired by
the new company can be seen from the statements in the
accompanying plan.
It is proposed to place upon this property 916,500,000 new
First ■ortgnge 50 ye r 4 per cent Gold Bonds. Of these bonds
only $12,712,000 will be issued on reorganization; $258,000 will
be reserved for the use o f the new company, and the rest re­
served in the hands o f the trustee for the purposes specified
in the plan. There will also be issued $17,000.000 of Ron-Cum­
ulative 4 p>r c-nt Preferred Stock-and $13,000,000 of Common
Stock. The securities thus issued will be sufficient to give
to the holders of United States Trust Company certificates
40 per cent in new first mortgage bonds, 50 per cent in pre­
ferred stock and 40 per cent in common stock, and will pro­
vide ample working capital for the new company.
It will be observed from the plan that all the securities
placed upon the property, except those reserved for cash re­
quirements, are to go to" the holders of Chicago & Northern
Pacific bonds, or for the acquisition in the interest of the
bondholders of new property required for the completion of
the terminals, so that the present bondholders will receive
the full benefit of any future increase in value or earnings.
Negotiations are now in progress for the joint operation of
other terminal and belt properties in and about Chicago, and
it is deemed important that your reorganized company shall
be in position to accept any advantageous proposition that
may be made to it in this connection. Accordingly, the
Plan provides for retaining in trust, for a short period, all
the securities of the new company. Your attention, how­
ever, is especially called to the fact that the new securities
will be delivered in December 31, 1807, unless otherwise
ordered try the owners of 70per ceiit in interest of the new
securities.
The Plan submitted has received the unanimous approval
of your Committee, and has already received the assent of
holders of a very large amount of United States Trust Com­
pany certificates, and is respectfully submitted by the un­
dersigned Committee in the belief that it secures in the most
efficient manner possible the Bondholders’ ownership of the
property and their interest in its future development.

S

E

J . E d w a r d S im m o n s ,
H enry B udoe,
R. C. Martin ,
S im o n S t e r n e .
N ew Y ork,

May 4, 1897.

W m. M ertens,
A l f r e d 8 . H e id e l b a o h ,
W m . A l l e n B u t l e r , J r .,

Committee.

899

PLAN OF REORGANIZATION.
The New Company will be called
C H IC A G O T E R J I I J U L

TRAN SFER
PANY.

CAPITA LIZA TIO N

OF NEW

R A IL R O A D

COM­

COMPANY.

1. First Mortgage 50 Year 4% Gold Bonds. Amount to
be Limned to 816,500,000. Interest to rnn from July 1,
1897. First semi-annual coupon doe January 1, 189S.
These bonds will be secured by a first mortgage on all
property of the Chicago & Northern Pacific Railroad Com­
pany, including the Grand Central Passenger Station in Chi­
cago and on all the property of the Chicago & Calumet Terminal
Railway Company, junior only to the $650,000 purchase
money mortgage on the Passenger Station and the $394,000
Chicago & Great Western bonds.
Nearly all the property to be acquired by the new com­
pany will be owned in fee.
812.742,000
only of t he new bauds will be issued on reorganization.
$258,000 of the new bonds will be reserved for uses of the
new company.
$1,305,000 of the new bonds will be placed in the hands of
the trustee of the mortgage for retirement of $1,044,100
above-described underlying mortgages.
$2,195,000 o f the new bonds are to be so reserved that they
can be issued for future requirements, under carefully
guarded provisions in the mortgage.
2. Non - 1 nmniative Four Per Cent Preferied Stock,
$17 000,000.
Which will entitle the holders to non-cumulative divi­
dends up to four per cent per annum, payable out of net
earnings before any dividends shall be paid on the Common
Stock.
3 Comn on Slock, 813 000,000.
Provision is to be made that no additional mortgage shall
be put upon the property of the new company, nor the
amount of the Preferred Stock authorized under this plan
be increased, except with the consent, in each instance, of
the holders of two-thirds of the whole amount of Preferred
Stock, given in writing or at a meeting of the stockholders
called for that purpose, and with the consent given in writ­
ing o f the holders of two-thirds of the Common Stock or
given at a meeting, by two-thirds of such part of the Com­
mon Stock as shall be represented at such meeting. The
holders of each class of stock shall vote separately.
The new company may reserve the right to redeem at any
time its Preferred Stock at par in cash.
'I he Preferred Stock shall be preferred both as to divi­
dends and in liquidation.
D is t r ib u t io n o f N e w S e c u r itie s .

1. First Mortgage 50-Year 4# Hold Bonds.
T o holders o f U. S. Trust Co. Certlflcates for Chicago &

Northern Pariflo First M ortgage Bonds, $28,855,000
less $2,500,000 bonds returned under settlem ent be­
tween the Reorganization M anagers o f the Northern
Pacific and the Chioago & Northern Pacitto Bondhold­
ers’ Committee, $26,355,000................................... 4 0 % $1 0 , 5 4 2 , 0 0 0
For acquisition o f $6,000,000 Chicago A C slum et Ter­
minal Railway Company bonds, and $5,000,000 Chi­
cago A Calumet Terminal Railwa* Co. stock, the
equivalent of $5,000,000 Chicago & Northern Pacific
Trust R eceipts (under settlement between the R eor­
ganization Managers of the Northern Pacific and the
Chicago A Northern Paciiio Bondholders’ Committee)
$5,000,000....................................................................4 0 %
2 ,0 0 0 ,0 0 0
F or cash requirem ents.........................................................
2 u 0 ,0 0 0
T o t a l t o b e I s s u e d o i l r e o r i j a n l z a t i o n .......... $ 1 2 , 7 4 2 , 0 0 0
Reserve for uses o f the new com pan y................................
2 5 s ,0 0 0
Reserve to exten t necessary fo r retiring, $1,044,000
5°o underlying m ortgages...................................................
1 ,3 0 5 ,0 0 0
Balance for rutiire requirem ents under strictly guarded
provisions in m ortgage......................................................
2 ,1 9 5 ,0 0 0
$ 1 6 ,5 0 0 ,0 0 0

2. Non-cnmnlative 47 Preferred Stuck.
To holders of U. 8. Trust Co. Certificates fo r Chicago &
Northern Pac. F iist Mort. Bonds, $20,355,000...5 0 % $ 1 3 ,1 7 7 ,5 0 0
F or d elivery with First M ortgage Bonds as above for
acquisition o f Calumet securities...................................
2 ,5 0 0 ,0 0 0
F or cash and other requirem ents........................................
9 7 2 ,5 0 0
Reserve for uses o f the new co m p a n y ................ ............
3 5 0 ,0 0 0
$1 7 , 0 0 0 , 0 0 0

3. Common Stock.
To holders o f U. 8. Trust Co. Certificates fo r Chicago &
North Pac. First Mort. Bonds, $20.355,000........ . 4 0 % $ 1 0 ,5 4 2 ,0 0 0
F or delivery with First Mortgage Bonds as above for
acquisition o f Calumet securities....................................
2 .0 0 0 ,0 0 0
F or cash and other requirem ents.......................................
4 5 8 ,0 0 0
$ 1 3 ,0 0 0 ,0 0 0
SUM M ARY.

Under this plan every holder of 81,000 of United States
Trnst
o. ceriillcaies for Chicago & Northe>n Pacific
Bonds will receive fur p>incipal and overdue interest—
8400 in New First Morigage 50 Year 4% hold Bonds.
850<» in Non-cumulative 4% Preferred StocK.
$400 in Cummon Stock.

THE

Wtt

CHRONICLE.

it the mrtte* hereto wav secure the benefits of
it*ut for the future joint operation o f railway
and about Chicago, all securities deliverable
, tl junl constituting the purchase price o f the
!>c conveyed by the Committee to the new comi the purchase price of the Calumet property, will
ousted v of th e1Vimmittee, who shall deposit the
e United States Trust Company for the uses and
ich shall lie specified in a trust agreement
ncd bv and between the Committee, the
uy ami the United States Trust Comlepiwitaiy, and which shall provide that
tat**s Trust Company shall, upon surrender of
certificates now outstanding, deliver in lieu
p iprteiary certificate for the amount of bonds
tl * new company specified in the above sumir equal amounts of securities o f the new comto others than holders of United States Trust
util)cates now outstanding the United States
any sluill deliver additional similiar proprietary
to wit, 5,000 proprietary certificates on sur•at
1 the Calumet securities, and 910 proprietary
1
on surrender of the securities reserved for cash
•at
The
ents , as stated on page 10 [pamphletJ hereof.
ent shall also provide that the securities of the
IVU thereunder shall UC deliverable W
new company deposited lUWCUUUtrt SUW I be u c u v c t a u r c to
the owners o f the proprietary certificates on Dec. 81st,
■r■•alter as practicable, unless other1;<97, or as soon therea
wise ordered, in accordance with the provisions of
tli.' Trust Agreement, which shall, among other things,
provide:
!. That, upon written authority of seventy per cent in intere.«t of the owners of all said proprietary certificates, the
Trust Company sluill exchange all tne bonds and stock of
the new company held for the owners o f such proprietary
certificates for such other securities as shall be specified in
kind and amount in the written authority above mentioned,
and 5i| ■ receipt uf such specified securities the Trust Com­
> '!i
pany shall divide the same pro rota among the owners of
the proprietary certificates.
II. Thai the’ assent to such exchange by seventy per cent
in interest of the owners of the proprietary certificates shall
bind every certificate holder to the same extent and purpose
a.» though he had himself assented in writing to such ex­
change.
III. That no right to exchange the securities of the new
c«n»r«»nv for other securities under the authority provided
m tl
A T ist Agreement shall exist after December 31
u n l e s s prior to that date either a contract authorized
by
| cent in interest of the owners of proprietary cerht
tffii u-f: shall have been entered into by the United States
Trt! it C
p.in v for such exchange or unless an extension
ich ! 1 not be beyond six months) for the making of
1
a ic h
in tract shall have been assented to by such 70 per
te n t.

The Chicago & Northern Pacific Bondholders’ Committee
shall have power to make any alteration in the details of
this plan necessary to carryou t the general features em­
bodied therein.
Fixed Clmreen After R eorganization.
Intawwl on nndertyUw mortiouco......................................... $52,200
I M e r e , t I,.;i Sl2,7l-.*,|«K> l-'ir-t M ort vage B o n d s, a t 4 p e r c e n t ... 5 0 9 ,6 8 0

Tot

T i e total nxed ch arge* o f th e o ld corop a u les a m ou n ted t o . . $ 1 ,7 0 4 ,9 5 0

FOURTEENTH ANNUAL REPORT—FOR THE YEAR
ENDING DECEMBER 31, 1890.
The principal assets of the Erie Telegraph & Telephone
Company consist o f an ownership of stock in the following
Telephone Companies:
Sixty-five per cent of the capital stock of the Cleveland
Telephone Company. Capital issued, §1,700,000. Territory,
Cuyahoga County in Ohio, which includes Cleveland.
Seventy per cent o f the capital stock of the Northwestern
Telephone Exchange Company. Capital issued, §2,00 <,000.
Territory, the States of North Dakota, South Dakota, ex­
cepting the Black Hills District, and Minnesota, excepting
the City of Duluth. (For list o f cities see below.)
Seventy per cent o f the capital stock o f the Southwestern
Telegraph & Telephone Company. Capital issued. §3,000.000.
Territory, the States o f Arkansas and Texas. (For list of
cities see below).
To the Stockholders ;
Your Directors respectfully submit the Fourteenth An­
nual Report of the Corporation, showing the operations of
this company and of the three telephone companies (in
which this company owns a controlling interest), for the
year ending December 31, J896, together ’ with a statement,
of assets and Liabilities.
THE CLEVELAN D TELEPH O N E COM PANY.
T H E N O R T H W E S PERN T E L E P H O N E E X C H A N G E CO.
T H E S O U T H W E S T E R N T E L E G R A P H & T E L E P H O N E OO .
I ncome .
1894.
1895.
1896.
$ 9 2 4 ,4 5 5 6 5
$ 9 9 8 ,2 4 9 5 2
E x c h a n g e S e r v ic e .......... $ 8 9 6 ,5 2 0 0 7
1 2 5 ,3 9 7 2 3
1 7 2 ,5 6 0 47
T oll Service....................
96,769 99
1 5 ,0 0 3 7 4
1 1 ,4 4 9 1 5
P r iv a te L in e ....................
2 0 .0 7 6 16
1 ,8 6 7 7 0
2 ,7 8 2 5 6
M e s s e n g e r .........................
1 ,2 8 7 1 3
8 ,2 3 5 6 7
1 1 ,8 3 4 11
I n t e r e s t ................
2 ,7 5 6 11
R e a l E sta te .....................
1 ,7 9 3 OO
5 0 4 oO
4 .9 8 7 OO
M is ce lla n e o u s ..................
1 4 ,4 1 1 7 6
1 0 ,4 3 1 71
1 1 ,2 8 4 5 9
T o t a l ............................ $ 1 ,0 3 3 ,0 1 9 2 2

$ 1 ,0 8 5 ,8 9 5 7 0

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

E xpenses .
$ 9 6 .2 8 8 31
2 3 ,2 9 5 7 4
1 5 4 ,1 5 5 7 2
1 6 2 ,9 2 4 5 6
1 2 ,8 2 3 16
1 6 2 ,6 5 9 08
2 1 ,9 8 6 0 7
3 ,7 7 5 03
575 08

$ 1 1 2 ,7 8 6
2 9 ,6 6 2
1 7 8 ,1 6 3
1 8 4 ,9 6 5
1 4 .6 6 6
9 7 ,1 5 5
1 5 ,7 + 8
1 ,8 1 6
293

95
27
23
51
37
12
GO
53
53

$ 1 0 1 ,2 3 3
3 1,942
2 1 8 ,2 6 6
1 9 9 ,8 2 3
2 0 ,1 2 2
1 0 3 ,8 1 8
1 9 ,9 4 4
838
1 ,0 4 4

T o t a l............. , ............
$ 6 3 8 ,4 8 2 75
Net. E a r n in g s ...........
$ 3 9 5 ,1 3 6 47
S u rp lu s A c c o u n t D e c , 3 1 , 1 8 9 5 .........
N et E a rn in g s, 1 8 9 0 — ..............................

$ 6 3 5 ,2 5 8
$ 4 5 0 ,6 3 7
$ 1 6 5 ,4 5 5
5 0 0 ,0 1 2

17
53
54
67

$ 7 0 6 ,1 3 4 7 3
$ 5 0 0 ,0 1 2 6 7

G e n e ra l, in cl’ d in g t a x e s
E x e c u tiv e ....... ................ .

Operating........................

M a in te n a n ce ....................
R e b a t e -------------------------R e n ta l a n d R o j a lt y —
In te re s t (M iseel'n sou s)
P r iv a te L in e .................
R e a l E s t a te ......................

SO
34
44
78
42
93
10
50
42

R e g u la r D iv id e n d s. 1 8 9 0 ..............................................

$ 6 6 5 ,4 6 8 21
4 6 1 ,6 6 2 5 0

S u rp lu s A c c o u n t D ee. 3 1 , 1 8 9 6 .........................................

$ 2 0 3 ,8 0 5 71

TH E E R IE T E L E G R A P H & T E L E P H O N E C O M PAN Y.
IN CO M E,
1 89 6 .
D iv id e n d s ................................................................................................ $ 3 1 4 ,9 1 3 7 5
E X PE N SE S.

I n te r e s t an d E x e c u t iv e ....................................................................

1 06 ,2 7 3 68

N e t in c o m e ............................................................................ $ 2 0 8 ,6 4 0
07
S u rp lu s A c c o u n t D eo. 3 1st, 1 8 9 5 ............. $ 1 8 2 ,0 0 5 57
N e t In co m e , 1 8 9 6 .............................................. 2 0 8 ,6 4 0 0 7
--------------------- $ 3 9 0 ,6 4 5 6 4
1 9 2 ,0 0 0 0 0
D iv id e n d s , 1 8 9 6 (4 q u a rte rly 1 % ) .................
S u rp lu s A c c o u n t, D eo. 3 1 st, 1 8 9 6 ........................... $ 1 9 8 ,6 4 5
64
U n d iv id e d S u rp lu s o f th e su b -o o m p a n ie s , d u e The
E rie T e le g r a p h & T e le p h o n e C o ., D eo. 3 1 st, 1 8 9 6 ..
1 4 0 ,1 6 3 7 9
T o ta l S u r p lu s ...................................................................$ 3 3 8 ,8 0 9
43
TH E CLEVELAND TELEPHONE COM PANY, TH E NORTH W EST­
ERN TELEPH O N E E X C H AN G E COM PANY, TH E SOUTH­
W ESTERN T E L E G R A P H & TE LE PH O N E COM PAN Y.
S t a t e m e n t o p A sse ts a n d L i a b i l i t i e s D e c . 3 1 s t , 1 89 6 .
ASSSETS,

(F or He mixed sta tem en t nee p. 2 o f p a m p h let.

< anil R e q u i r e m e n t * .
■ir on s t o r ifi. tra ct . ............................................................. $ 2 0 6 ,5 0 0
er.t ,..r s econ d tra ck on C alu m et H oad, as p e r eonh H am m ond C o. .................................................................. 1 2 0 ,0 0 0
r e o r m n lx a tlo n . in clu d in g se ttle m e n t o f
!i,.,rp r,r ,
or new co m p a n y , issue o f DOW secu ri'■">
'■ dlaluiraem enta o f the co m m it t e e .......... 2 8 7 ,0 0 0

j

ERIE TELEGRAPH & TELEPHONE CO.

! 0 x e 4 c liart.'es............... .................................... . . . . . . . . . . . . $ 5 6 1 , 8 8 0

THe m ram lfig*- fa ffiT
ta x es) o f the oom b lu ed
pr<3% ?rMri* « in M esh)* to th e l a t e r a l oliartrem o f th e n ew
+*
m m t -ttny * r e
fo r th e y e a r co m m e n cin g J u ly l ,
i m i at Gtt*
. $ 6 2 0 ,0 0 0

1Vol , LX1YV

P ro p e rtv an d F r a n c h is e ................................. $ 6 ,3 4 5 ,0 2 0 25
R eal E sta te .........................................................
3 9 0 ,0 0 0 0 0
S u p p lie s (u n u s e d )..............................................
2 2 5 ,1 3 5 53
A c c o u n ts R e c e iv a b le ........................................
2 1 4 ,8 0 9 59
C ash.........................................................................
3 5 ,0 3 9 35
L IA B IL IT IE S .

O ap ital S to ck (issu ed ).....................................
R e s e r v e .................................................................
S u r p lu s .................................................................

$ 6 ,7 0 0 ,0 0 0 0 0 '
3 0 6 .1 0 9 01
2 0 3 ,8 0 5 71
$ 7 ,2 1 0 ,0 0 4 7 2

$ 7 ,2 1 0 ,0 0 4 72

$ 6 1 3 ,5 0 0

in c
t»1

n ! « v e fta th r e q u i r e m e n t s w i l l b e p r o v i d e d f o r b y t h e
*'
t l " ' p r o p e r t y u n t i l d u l y 1, 1897, a n d b y t h e s a l e o f
p r o................ y c e r t i f“i c a t‘ e
p r ie ta r
r e p r e s e n tin g th e f o llo w in g
£* 4„-V '1P

>

1

u nu
>i»oi* Macro t in * Ob
» F e w m tn t Mortal
\F e w I*r»ferr«y1 S'
I F e w Cofflaio® ftt#

*4

* rf***iv
b y com m ittee from N orth**U3*TOcnt o f claim # Hgalnat receiv er# o f

cHgo & K orthera Pacliiobond#.
€6 Bon<3#,
*ck.
ek.

T H E E R IE T E L E G R A P H & TE LEPH O N E COM PANY.
ST A T E M E N T O P A S S E T S AN D L IA B IL IT IE S DEC. 3 l8 T , 1896.
ASSETS.

S tock s arid B o n d s ...............................................$ 7 ,1 6 5 ,7 2 2 27
A c c o u n ts R e c e iv a b le .....................................
8 6 ,2 2 1 3 4
C ash.......................................................................
8 1 ,7 2 1 08
LIABILITIES.
C ap ita l S to c k (Issu ed )...................................
B o n d s a n d N o te s ..............................................
R e s e r v e .................................................................
S u rp lu s............................................ ......................
$ 7 ,3 8 3 ,6 6 4 69

It is estimated that upon completion of the reorganization
thc^nc-w crnnjnny will liar,, jn ibs treasury the following
1 883.

fzrjt'fm N>w Fir,* Mortgage Bonds,
*.Vi«,oO0 New Preferred Stock, and about
* 100,000 cash, with additional quick net assets annroxiwately valued at *175,000.
pf

$ 4 ,8 0 0 ,0 0 0
2 ,2 4 3 ,0 0 0
92,< 1 9
1 9 8 ,6 4 5

00
00
05
64

$ 7 ,3 3 3 ,6 6 4 6 9

S U B S C R IB E R S .
Tup. C l e v e l a n d T e l e p h o n e C o m p a n y .
EXCHANGE.
1894.
1 89 5 .
C le v e la n d , Ohio—
3 ,5 4 9
3 ,9 8 4
P riv a te L in e4 06
387

1896.
4 ,2 7 0
411

1 ,5 0 0
4 ,3 9 0
•L936
4 ,6 8 1
T o t a l n u m b e r o f m e ta H ice ircu it su b scrib e rs in clu d e d in a b o v e , 1 ,2 0 4

THE CHRONICLE

Ma y 8, 1897.]

Income and expenditures since 1883 have been as follows :

T h e N o r t h w e s t e r n T e l e p h o n e E x c h a n g e Co m p a n y .

1883.
0
69
49
60
0
0
30
800
0
26
0
482
96
9
54
179
0
79
0
0
0

EXCHANGE.
Anoka,
M inn..........
Brainerd,
“ ..........
Faribault,
fi ..........
Fergus Falla,
“ ..........
Fort Snelling, “ ..........
Little Falls,
“ ..........
Mankato,
“ ..........
Minneapolis,
“ ...........
Northfield,
“ ...........
Red Wing,
“
........
St. Cloud,
“ .........
St. Paul,
“ ...........
Stillwater,
'• ..........
W abasha,
* ..........
•
W inona,
“ ..........
Farsro,
N. D .........
G rafton,
“ ..........
Grand Forks.
“ ..........
Sioux Falls, S D ...............
' anktoo.
“ ..............
P rivate L in e ........................

1894.
.......
0
........
0
.......
45
.......
0
.......
6
.......
27
.......
98
....... 2,137
.......
14
.......
40
.......
78
....... 1,506
.......
157
.......
0
191
.......
.......
247
.......
0
.......
239
.......
231
.......
45
.......
518

1895.
0
0
46
0
6
26
111
2,347
20
59
90
1,602
176
0
117
348
0
301
174
42
503

1896.
30
0
116
0
0
38
140
2,424
48
62
101
1,671
182
0
137
452
57
370
197
47
466

1,933
5,968
T o ta l............................. ....... 5,479
6 ,5 3 8
T otal num ber o f m etallic circuit subscribers included in the above,
381.
T h e So d t ii w e s t e r n T e l e g r a p h & T e l e p h o n e C o m p a n y .

1883.
0
0
62
88
286
0
0
0
54
0
0
127
0
91
41
0
68
270
75
0
0
0
157
68
323
0
150
0
0
0
0
0
53
0
38
85
316
118
0
0
0
0
0
88
0
0
0
0

EXCHANGE.
C onw ay,
A rk..........................
Fort Smith, “ ........................
Helena,
“ ........................
........................
Hot Sprinars,
L ittle Rock, “ ........................
M orrilton,
“
........................
N ew port.
“ ........................
Pine Bluff,
“ ........................
Texarkana,
“ ........................
Van Buren, “ ........................
A lvarado,
T e x a s...............
Austin,
“
................
Belton,
“
................
B enham,
“
..... ..........
Cleburne
*
* ...............
Corpus Christi, “
................
Corsicana,
“
...............
Dallas,
“
...............
Denison,
“
...............
El Pa o,
“
................
Kairle Pass,
*
• ...............
Ennis.
“
................
F ort W orth,
“
...............
...............
Gainesville,
“
Galveston,
“
...............
H ill'b o ro ,
*
* ...............
Houston,
“
...............
Jefferson.
“
...............
Lampasas,
“
...............
...............
Lnredo,
“
M cK inney,
“
...............
Marlin,
...............
Marshall,
• ................
<
Orange,
“
...............
Palestine,
“
................
Paris,
“
...............
San A ntonio,
“
................
Sherman,
“
................
Taylor,
“
................
Temple,
“
................
Terrell,
“
...............
Tyler,
*
* ................
Victoria,
“
................
W aco,
•
* ...............
W axahachie.
“
...............
W eatherford,
“
...............
Wichita Fall.-!,
• ................
*
Yoakum .
“
................
P rivate Line,
4t
................

1894.
0
247
90
171
523
0
0
17*
34
30
10
336
43
50
0
55
54
597
*22
16 4
35
0
429
27
723
0
652
12
12
108
9
0
73
12
0
172
617
134
0
94
51
92
50
328
11
42
39
0
433

1895
33
322
111
151
506
18
0
197
73
50
9
377
94
66
0
65
39
678
20
185
46
90
439
29
752
98
724
36
12
113
13
0
86
13
0
226
667
197
80
180
65
160
52
405
117
60
26
47
506

1896.
27
418
144
169
765
0
43
308
105
107
8
446
170
117
0
69
69
766
103
220
57
108
455
124
862
130
855
28
10
111
17
102
101
59
0
295
733
228
118
240
87
125
52
455
177
83
30
56
418

2,558
T o ta l....................................... 6,759
8,233
10,170
Total number o f m etallic circuit subscribers Included in the above,
476.
Su m m ary .
1883.
1894.
1895.
1896.
1,500 The Cleveland Telephone C o.. 3,936
4,390
4,681
1,933 The Northwest. Telep. Ex. Co.. 5,479
5,968
6,538
2,558 Tbe Southwest, Tel. '& Tel. Co. 6,759
10,170
8,233
5,991
T o ta l....................................... 16,174
18,591
21,389
Net Increase fo r 1896, 2,798.
Total num ber ot m etallic circuit subscribers included in tbe above,
2,061.
Total Number o f Exchanges.
1883.
1894.
1895.
1896.
3 The Cleveland Telephone C o...
3
4
4
13 The Northwest. Telep. E x. Co.
15
16
15
38 The Southwest. Tel. & Tel. Co.
45
44
38
54

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

56

63

65

The Erie Telegraph & Telephone Company was organized
in June, 1883, and originally owned the telephone proper­
ties now operated by the Cleveland Telephone Company,
the Northwestern Telephone Exchange Company, and the
Southwestern Telegraph & Telephone Company. In 1887 an
arrangement was entered into with the American Bell Tele­
phone Company whereby perpetual contracts were issued
covering the three sections mentioned, and the properties
were conveyed by bills o f sale to the corporations now own­
ing them, this company retaining a controlling interest,
heretofore mentioned, in each company. The growth of
the business since 1883 has been marvelous, and the year
1896, notwithstanding the general unsatisfactory condition
of the bnsiness of the country, shows a greater increase,
comparatively, than any previous year.
The expenditure upon the plant and equipment during the
year has been
F or new construction................................................................
For m aintenance........................................................................
F or real estate.............................................................................

901

$828,317 65
19u,823 78
206,273 07

T ota l........................................................................................$1,234,414 50

The number of subscribers has increased rrom 5,991 in
1883 to 21,389 in 1896, a net gain of 15,398,

Gross in com e....................................................................................$10,745,911 59
Gross expen ses................................................................................
6,927,918 0 4
Net earnings.............................................................................. $3,817,993 55
Included in the item “ Gross Expenses ” is the sum of . . $1,832,989 71
Expended in im proving the plant, to which must be
added the cost o f all classes o f extensions, and the
cost o f real estate........................................................................
3,006,470 25
Grand total c a 'h disbursement upon the plant since
1883 (exclusive o f the cost o f the original properties
and rights)................................................................................$4,839,459 96

Tne Erie Telegraph & Telephone Company has paid 53
dividends since the organization of the Company, including
the dividend declared by the Directors January 29th, 1897,
from the earnings for the quarter ending Dec. 31st, 1896.
R E A L ESTATE.

For an exchange of about 700 subscribers, where an un­
derground system is necessary, it is advisable that a perma­
nent location be secured for the “ Central O lice .” The com ­
pany now owns land and buildings in the following cities :
V a lu e.

Austin, T exas..................................................................................
$3,500 00
Galveston. T exas............................................................................
55,000 00
37,000 00
Houston, T exas............................................
Little Roclt, Ark ............................................................................
6.500 00
San A ntonio, T ex a s.......................................................................
18,000 00
Cleveland, Ohio (Main)................................................................. 250,000 00
Cleveland. Ohio (B ran ch )............................................................
20,000 00
St. Paul, Minn, (purohased Jan. 1 ,1 8 9 7 )................................
50,000 00
Total.......................................................... ............................... $440,000 00

There is now being constructed for our use at Minneapo­
lis a building, which we have the option of purchasing, that
will cost, with the land, a sum not exceeding $125,000. We
also have under consideration a permanent location at Dallas
and Fort Worth, in Texas, although at present we are well
situated, under satisfactory leases.
It is the policy o f the management to purchase land and
erect buildings only of sufficient size and practically for our
own use, as far as possible, so as to avoid the trouble of rent­
ing offices.
UNDERGROUND.

The Sub-Companies commenced burying their wires in
1888, and now have 11,808 miles o f wire working under­
ground, in the following cities :
Houston, Texas. (Conduit laid ready fo r wires.)
Sau Antonio, T exas.....................................................................
550 m iles.
8t. Paul. M inn.............................................................................. 1,690 “
M inneapolis, M inn....................................................................... 2,173 “
Cleveland, Ohio............................................................................ 7,395 “
T otal........................................................................................ 11,808 m iles
TOLL LINES.

A decidedly valuable auxiliary to the exchange telephone
service is the toll line department, and we have spared no
effort to extend this branch of the business to every city and
town in our vast territory, wherever the lines can be oper­
ated profitably. W ith the exception of about seventeen
hundred miles of iron wire to small branch stations, our
entire system of eleven thousand five hundred and twelve
miles is composed of heavy copper metallic circuits, and we
are prepared to give an excellent long distance service
throughout our territory. The time is not far distant when
we expect that the ' American Telephone & Ielegraph
Company (the Long Distance Company) will build to points
in our territory, thereby connecting our extensive system
with the great long distance service of the United States.
Most of the toll line construction lias been done during
the years 1895 and 1896, under the direction of our efficient
Superintendent o f Construction, Mr. P. G. Reynolds. The
lines in most cases have been constructed outside o f the
railroad right of way and parallel thereto on land purchased
by the company, and are built in a most able and thorough
manner.
In the Northwest we are operating 5,054 miles o f Toll
wire, as follows:
Cir­
cuits.
1
1
2
1
1
1
2
3
1
3
1
22
1
2
1
1
1
1
1
1
1
2
1
1
2
1
1
1
1
i
60

From
Grand Forks
Grand Forks
Grand Forks
H illsboro
Fargo
Fargo
Fargo
Fergus Falls
St. Cloud
St. Cloud
M inneapolis
Minneapolis
Minneapolis
M inneapolis
M inneapolis
Sliakopee
St. Peter
Sioux Falls
Sioux Falls
Sioux Falls
8t. Paul
St. Paul
Stillwater
St. Paul
St. Paul
Red Wing
W aterville
Winona
Winona
Winbna

To
Park River,
Larimore,
Fargo,
Portland,
V alley City,
Lisbon,
Fergus Falls,
St. Cloud,
Little Falls,
M inneapolis,
St. Francis,
St. Paul,
Excelsior,
Sioux Falls,
A lbert Lea,
Carver,
Cleveland.
Dell Rapids,
Parker,
Salem,
W hite Bear,
Stillwater,
Osceola,
Austin,
Red Wing,
W inona,
Faribault,
La Crosse,
Rochester,
Tremle&ii,

Foie
Miles.
54
28
78
23
57
60
82
112
32
60
12
10
9
264
76
6
4
22
48
38
12
20
15
100
41
62
23
26
50
28
.I,* sir

Copper
Wire
Miles.

Iron
Wire
Miles.

108

___

312
46

...»

....

120
328
672
64
360
66
120
38
1,056
216
20
12
40
76
24
80
200
164
124
f2
100

56
114
....
....
....

320
___
___
....

44
56

15
___

23
28

*4,398

oSh

FUR CHRONICLE,

902
* I&elitA** tw& w
r*r«r®. tn ii • Witt*
M t e «rlSk M i f H « r
M ii * m k m ■ l m
tm

a m

. from
Is S# 70

_

: ■
-a ll. No. 9 o o p jw r w ire. M t llo fc jw lt l t o
,v ui
to e n a b le P ark H ivW , N . D „ to
Mliissc. w h en th e eentteetlon I s m a d e b e tw e e n
nrapolW rile d tsta n ee fro m M ilw aukee to M inn e
.
,, t fro m Park H ire r, in N o rth D a k ota , to B ar
a,-wit 2.1 H m ill'*. Limit'"*! circ u it op erated. b y till*
i*.,rfc Uii o r to K. l>. to P a rk er in S. D .. v ia S ila n e-

mile*.

In ; hr Southwt ?»t w a tf operating 6,198
<*
m m lOWS '*

I
1
X
3
I
t
i
1
1

1
i

i
i
X
4
l
l
1
1
1
$
l
1
l
4
1
1
1
l
2
1
1
1
*t
4
1
2
1
1
*»
2
2
*>
1
1
X
l
1
1
l
1

Wmm
L ittlo UrnM
B tm e fJ rlile
F o r t Sittl-li
Ym t 1
F » n S m ith
U t i l s llouk
Hdknui
U t i l e Hack

M t. N eb o,
D o v e r,
VAn Bttron,
A tHist,
Wivtilrmi,
Pirn* BlulT,
C la ro o d o n ,
H o i Spring?*,

Total la A rkansan,

Pole
Milts*
81
5
7
5
9
72
4?
50
08
310

m ile s

of toll w i r e ,

C op p er
W ire
MUm
102
....
....
....
80

Iro n
W ire
Miles*
—
5
7
30
9
144

130

io o
—

381

205

60

....

.... ”

d a r t a m il©
F «rl«
ShertEtim
S herm an
Sherm an
O fi^ iiv iU e
Datlajs

P uri*.
Sherm an,
D cu ison .
G a in e s v ille ,
G re e n v ille .
D a iliis ,

M cK in n ey ,
TorreU ,
D en ton ,
G ra p ev in e,
K a u fm a n ,
F ort W orth,
D ecatur,
G m ham ,
W ea th erford ,
W a co,
Glehuruo,
E u n i».
G ornloana,
Itaska ,
C orsiea n s,
B rom on d .
G roesh eck ,
W askom ,
B rem on d ,
A u stin ,
M oG rcg or,
B e lto n .
C o n i H ill,
Sahulo,
H em p stea d,
H em p stead,
G a lv eston ,
San A n to n io ,
L u lln v ,
P ra tn o Lea,
C a stroville,
B a strop ,
L a G ra n g e,
Hchiilellhurg,
W allis,
E a g le L a ke,
M orga n City,
T e x a s C ity,

30
6S
11
31
52
03
32
31
37
11
11
33
40
65
32
100
40
12
30
10
53
69
0
35
43
110
22
7
22
10
91
115
104
81
31
5

052
22

104
504

*§4
—
32

62

taking and paving for their pro rata of the increase, at par,
with this Company. For this purpose, to December 31st,
1800. the number of shares sold in each Company has been
as follows :
S ha res.
T h e C le v e la n d T e le p h o n e C o m p a n y .................... 11,000
T h e N o rth w e s te rn T e liv h o n o e x c h a n g e C o. .2 1 ,1 2 0
T h e S o u th w e s te rn T e le g r a p h * T e le p h o n e C o . 1 0 ,0 0 0
T o t a l ........................................................................4 0 ,4 2 9

P a r Value.
$ 9 0 0 ,0 0 0 0 0
1 ,0 7 1 ,4 5 0 0 0
1 ,0 0 0 ,0 0 0 00
.$2 ,9 7 1,45 0 0 0

To enable the Erie Telegraph & Telephone Company to
take its proportion of new stock issued to date and 'that
that may be issued in the future, you have authorized an
issue of four million five per cent bonds, payable in 1926.
All of tbe bonds have been sold, to be delivered as the Com­
pany may require funds. One million of this issue lias
already been delivered, making the total outstanding in­
debtedness $2,243,000 00.
T in ; Scn-OOMPANIES H a v e N o O it t s t a n iu m ; Lm >B8TB»NRSs .

I can conservatively say that the affairs of the various
corporations are in good hands throughout, that we may
look forward for continued prosperity in every section of
the territory.
For the Directors,
L o w e l l , M a s s ., U. S. A.,
LE Y ! SPRAGUE,
January 39, 1897.
President,

....

____
___
_ _
_

VOL. L X IV .

74
22
11

Oregon Improvement.— Reorganization Matters, —The ap­
parently conflicting statements made by tbe two reorganiza­
tion committees in their advertisements have puzzled some
198
___
40 persons and deserves explanation. Tbe Waterbury committee
....
65 says: “ Pursuant to an understanding with tbe committee
___
64
reprrsenting outstanding minority interests” , the time for
....
800
40 deposits without penalty under the W atenury agreement
....
30
has been extended to and including May 11. The Am y com­
*82
....
11 mittee, on the other hand, says: “ No agreement whatever
....
has been made by this committee, representing the stenrity
212
....
....
138
holders, with the committee of which Mr. Waterbury is
22
*35 chairman, and all statements to that effect are wholly un­
warranted by tbe facts.”
___
172
....
880
Tbe explanation is this: The Waterbury committee, it is
22
....
stated, gave the Amy committee to understand at the beain­
___
28
12 ning of negotiations looking to a settlement of their differ­
20
10 ences that the negotiations would be continued only for “ a
364
reasonable time” , and that then if no agreement were
460
reached the Waterbury committee would proceed to foreclose
208
....
and carry out its plan, but that before doing so it would
324
"3 1 allow the minority interests a limited period within which
5
to subscribe to the plan. Such opportunity is now offered.
20
20
19 Tbis is the extent of “ the understanding” , but tbe use of
19
25 these words gave rise to the idea that a compromise had bten
25
23
23 reached and so called forth from tbe Amy committee its
38
38
emphatic denial of the existence of any agreement. Mr.
69
138
1
‘ *52 Roletoo’s sudden and severe illness made it necessary for him
26
I
7
*1 4
....
to withdraw from the committee with which his name has
been identified, leaving as members of that committee Henry
T o ta l In T e x a s ,.
1,762
63
5 ,0 3 4
745
T otal In A rkansas,
310
11
3 84
295 Amy and Henry K. McHarg, acting with Michael H. Cardozo
as counsel. The maDy friends of Mr. R dstoa will be glad to
74
T o ta l S ou th w estern T e l. & Tel. C o., 2,102
5 ,4 1 8
1 ,0 4 0 hear that his condition, which at first was most alarming, is
improving, and that it is hoped he will soon be able to
T in - l o n g e s t c i r c u i t o p e r a t e d b y t h i s C o m p a n y is f r o m
return to bn-iness.
C la r k s v ille , T e x a s , t o G a lv e s t o n , T e x a s , 600 m i l e s . ' T h e c o n ­
Right to Withdraw Securities, M e,—A circular issued by
s t r u c t i o n o f 1(33 m i l e s o f l i n e b e t w e e n M e m p h i s , T e n n ., a n d the Amy (formerly Rolscon) Committee says in substauce:
O a rrottoo
T em sit
D a l Lie
F o r i W orth
F o r t w o r th
F o rt W orth
D a11aa
W axfihachle
W axahftehie
H Ib oro
H fl labor©
Daitaa
Cor*lctina
M extii
J efferson
W a co
W aco
E ddy
T e m p le
R o u n d R ock
B elton
B rem ond
Atiattn
Item patead
A fiatln
K y le
Lutins;
San A n to n io
m m
W eim ar
C oln m bua
H em psteaii
H ou ston
H ou ston
G a lv eston

P i n e B l u f f , A r k a n s a s , a n d 163 m i l e s f r o m M a l v e r n , A r k . , t o
C la r k s v ille , T e x a s , w o u ld c o n n e c t a ll o f A r k a n s a s a n d T e x a s
w ith t h e g e n e r a l lo n g d is t a n c e s y s te m o f t h e U n it e d S ta te s .
T h e lo n g e s t t e le p h o n e c i r c u i t m t h e w o r ld w o u ld b e B a r
H a r b o r . M a i n e , t o G a l v e s t o n . T e x a s , 2 ,7 8 8 m il e s .
T O U . L i M SCMMAKT.
_.
.
Pole
<«|U
Miles.
<W N otth w rstern T e le p h o n e Erect. G o., 1.452
T eleg. A T olep b C o.,
2 ,1 0 2

.1

mum

C opper
Ifi re

i ro n
IFire

Miles.

Miles.

4 ,3 9 8
5 ,4 1 8

656
1 ,040

....................................... 3 ,5 5 4
9 ,8 1 0
Iron w ire....... ................................................... 1,698

1,696

T o ta l m ile* w ire ....................................................... 11,5 12
c c hi.4 tria l nu m ber o f m»Up « o f w ire in o p e ra tio n D ecem b er 31
U ‘M' , ................................................................................................................ 42,032
S s fo llo w * :
m
.
, _ , ,
,
U n d ergrou n d . A eria l.
Toll. Total.
T t m flr v e U h d ri-lrplm n e tin., ............. 7 ,3 9 5
<1,589
195 14,178
T h e .v.,rtl»TR«tciri M i,p h i,tin E x , C o.
3 ,8 6 3 5 ,5 7 3
5 ,0 5 4 14 490
s-viit|i-a,,«s,,rn M u g . ,V Tolejp. Go,
5 5 0 8 ,3 5 8
6 ,4 5 8 13,3 64

I n J a n u a ry la s t M r. W a te rb u ry su b m itte d t o Mr. R o ls to n oerta tu
a lte ra Ions, w h ish , If s a tis fa cto ry , he stated h s w o u ld re c o m m e n d to
M s co m m itte e fo r a d o p tio n . O u r C hairm an th e re u p o n co m m e n c e d a
c o r re sp o n d e n ce w ith th e re c e iv e r to as e r t Uu th e p re o ise m on ey ren lre u n n ts o f th e o o m p u n y , and d o w n to ilia tim e th it tie w n tak en
1 tb e co r re sp o n d e n ce w a s co n tin u e d . W e h a v e sin ce u n d e rta k e n to
in d u c e Mr. W a te rb u ry t o r e u e w t h e p ro p o s itio n m ad e by him to o u r
C h a irm a n , h u t he has dfO iinad t o d o so.
t'his co m m itte e is a n d a lw a y s has been o p n o s e d to th e p lan o f th e
W aterb u ry D om ini, tee an d re c o m m e n d s all soourtty h o ld e rs to le a v e
th e ir s e cu ritie s o n d e p o s it w ith this co m m it tee a t the F a rm ers’ L oa n
& T ru st C o m p a n y , and this co m m itte e w ill d o Its u tm o st to o re s e r v e
th e ir rig h ts, an d h a s a lrea d y ta k e n p r o p e r step s to In terv en e a n d a n ­
sw er tu th e n o w p e n d in g fo r e c lo s u r e s ii t s . If, h e srever. » a y b o n d ­
h o ld e r 1* d esirou s o f w ith d ra w in g his b ond s, h ■ m ay d o so on o r b e fo r e
M »v « , 1 *97 . up on p a y m e n t o f $5 f o r e a ch b o n d so w ith d ra w n ; a n y
s to c k h o ld e r m a y d o lik e w ise u p o n p a y m e n t o f 5 0 ce n ts p er sh a re
H o ld e rs o f o e n lflo s t e s o f th e M a n h a tta n T ru -t C om p a n y h a v e a rig h t
un d er th e lorm s o f th eir deposit, to w ith d ra w su ch eerti floats* f o r th e
p u rp o s e o f p iy lr ig the a ssessm en ts c a lle d fo r on M ay l l t t t a t a n y tim e
w ith o u t ch a rg e .— V . 6 4, p . 800.

a

Uni*>n Pacific Hll.— Penalty on Deposits o f Collateral
, Trust 0s oj 1879 after May 80.—The hollers of a majority of
i he collateral trust 6s f f 1879 having deposited their bonds
under the agreement dated March 27th, 1897, holders who
r " " d ................
11,808 1 8 ,5 1 7 11,707 42^032
desire to deposit their bonds are notified to make such d-posic
E X T E N SIO N S ,
with the Union Trust Go. of New York, on or before May
T.
. eddish ample facilities in the Northwestern and29th, 1897. Deposits after that date, if receiv d at all. will be
Strtiiii-v.-.it.rii -'ction s for the large and increasing toll subject to such terms as may be prescribe.—(V. 64, p. 713 )
hustn*
an i t-. r. rich important points demanding service,
Penalty on Deposits o f Collateral 5s o f 1883 after May 15 —
it will he n«' i «ciry to b u i l d within the next eighteen The holders of a large majority of the collateral trus 5a of
month.* *13 miles of pole line and d,982 miles o f wire. We 1888, having deposited or agreed to d posit their bonds under
axji >n-lit.urn for extensions of the the agreement dated March 25th, 1897, holders who wish to
plant and real estate for the year 7897 will be as follows :
deposit their bonds are notified to make such deposit with the
! State Trust Go., New York, on or before Miy lo h, 1837. Dar-r
1 ............
................................... ........................................ 2 0 0 ,0 0 0 0 0 j posits after that dam, if received at all, will be su j
t i such
terms as the Bangs committee m ty prescribe.—(V 64. t> 665.)
.
T ', u i ............... .
........................ — .........................................$ 7 0 0 ,0 0 0 00
I Collateral Trust Gold Notes 6s, Nearly all D posited,—
FU N DS.
y
! H ild rs of abbutSo.ner Cent of the coll inerfl irnst tobl notes,
I I prov id o i n n Is for >hc future growth of the business, the 6*, have deposited the same with J P. Mirean & Go. under
c » r.n i. c . - s of the Cleveland, the Northwestern and the agreement of February 15, 1897. The last day for depositing
fto-Hixv. <n rn •.uruni— is increased from time to time as was April 30th. The notes have b»en stricken from the Stock
u ,‘" 5 ,:,r,c Vr-4<'
the American Bell Telephone Company Exchange H st.-(V , 64, p. 507, 758 ) - V . 64, p. 844.

THE CHRONICLE.

Ma y 8, 1897.]

Western N. ¥. St Pennsylvania Ky.— Quarterly.—Earnirgs
for the quarter and the nine months e> di"g March 81 have
been reported a* f"llows. Charges in 1896-97 include in ’erest
(amounting to $150,000 for the nine month ) on the new gen
eral mortgage bonds; in 1895-96 this interest was provided for
under the reorganization plan.
3

m os. en d .
M a r . 31—

G ross
e a rn in g s.

1897.........
$614. *96
1896..........
628,913
9 m o s .—
1896-7. ... $2,285,332
1895-6....... 2,449,423

K et
e a r n in g s .

O th e r
in c o m e .

$ LI 1.524
141,778

$4l,-i85
66,333

t a x e s , etc.
$205,132
177,905

I n te re s l,

$743,724
664,613

$55,651
73,441

$616 3^6
494,732

B a la n c e ,
s u r o r d e f.

d f.$52,223
sr.30,2u6
sr $183,009
sr.243,322

Loans and hills payable March 31, 1897, were only $9,000,
against $62,7?0 on June 30, 1896.—\ . 64, p. 333.
Wisconsin Central Co.—Milwaukee & Lake Winnebago
RR.—Chicago Wisconsin & Minue-ota BB.—Suspension of
Leases. —Coupon Payments —An agreement has been reached
under which the receivers will operate the constituent lines
of the system on their own bases, each of the various cor­
porations to receive ihe net earnings of its own property after
deducting its proportion of all terminal, equipment and other
expenses.
The Central Car Co. also, whose stock, as stated last week,
(page 844), forms the chief part of the collateral back of the
Wisconsin Central joint improvement bonds, has agreed in
like manner temporarily to accept rental upon the present
actual cash value of its equipment. The rental paid to the
car company for the year 1895-96 amounted to $260,346,
about seven-eighths of which sum, it is understood, accrued
to the account of the improvement bonds. Mr. Edwin H
Abbot, Voting Trustee of the Wisconsin Central, in reply to
our inquiry as to what effect the change in the payment of
rental is life* ly to have upon payment of coupons on the im ­
prove ment bonds, says :
“ The new a' rangunent is terminable on ten days' notice, but
if continued six months may possibly reduce cash payment
about half, with scrip for balance, but reorganization shou'd
be accomplished before November, and include complete re­
tirement of all equipment leases and absorption of these
bonds. ”
These alterations in the method of operation are made in or­
der to ascertain the relative earning capacity of the different
parts of the system, preparatory to formulating a reorgani­
zation plan which shall be fair to all interests, the intention
being to merge the separate companies into a single cor­
poration.
The increase in freight earnings am mating to 11 percent
during the month of March is accounted for by the opening
on F< b. 19 of the ferry connecting with the Flint & Pere Mar­
quette RR 'across Lake Michigan, by which a new route is ob­
tained to iide water without breaking bulk. The reduction
in distance by this r< ut- as compared with the shortest line
previously existing bei ween St. Paul and Buffalo is estimated
by those interested at 115 mil-s out of 947, or on fast freight
a saving in distance of about 12 per c;m , and in time of two
to three days. See particulars in V. 62, p. 636, and subse­
quent issu-s.—V. 64, p. 844.
Wyoming & Northwestern.—Mortgage Filed.—The com ­
pany has made a mortgage t >the Chicago Title & Trust Co.
and H. W. Leman, as trustees, to secure $1,500,000 bon is,
which it is proposed to issue in order to build the road from
Casper, Natrona Coun y, the present western terminus of
the Fremont Elkhorn & Missouri Valley, west about sixty
miles to the w. stern border of Natrona County.

903

C h e (flo m m e r c ta l 'ffim g g ,
C

O

M

M

E

R

C

I

A

L

E

P

I

T

O

M

E

-

Friday N ight , May 7, 1897.

The tariff bill as reported from the Senate Finance Commit­
tee to the Senate on Tu' siay has been mare favorably received
than was the bill as passed by the H mse of R-presentatives.
The advance in the duties on carpet wools and the reduction
in the du’ies on other wools has caused dissa>isfacti in, and
the proposed duty to be placed on "hides, it is claimed, will be
detrimental to the interes s of the leather and boot and shoe
trades. Ia the meantime business in general continu>sina
more or 1 s a unsettled condition, awaiting the final outcome
of the tariff legislation. The striking ouf of the retroactive
amendment has resulted in increased activity among import­
ers for early shipment from abroad. There has been severe
fighting between the Turkish and Greek forces, but at the
close it is reported that the Powers have practically concluded
to intervene. There have been further limited engagements of
gold for export, but thus far no anxiety has been felt over the
movement. The Governor has affixed his signature to the
Greater New York charter, thus making it a law becoming
operative January 1, 1898.
Following is a statement of sticks of merchandise :
May 1,
1897.
Pork..................... .
Lard.........................
Tobaoco, domestic
Tobacco, fo r e ig n ...
Toffee, R io.............
0 »ffee, other...........
Joffee, Java, & o___
'u i<ar........................ ...........hhds.
'utfar........................
4o lasses, foreign ..
JldHS .......................
L itto n .....................
S o n in ......................
Spirits turpentine.. ............ bbls.
T a r ......................... ............bbls.
Sice, E. I .............. ...........bags.
-iioe, domestic ___ ............ bbls.
uiiineed . ............ .......... ba*?8.
Saltpetre................
Jnte butts .............. .......... bales.
lanlla hem p.........
'iaal hemp ___
..........bales.
* 'o iir ..............bbls. and sacks.

Apr. 1,
1897.

18.467
19,090
13.096
3,531
331.019
120,800
46 ,0 (0
5,574
1,966,42 l
150
36,6110
202,433
28,072
307
3,611
40,000
2,500
None.
17,750
None.
18,859
25,704
104,300

8.793
22,576
12.582
3,720
333,582
40,558
101,444
2,151
1,612,686
55
19,000
242,578
43,917
1,570
2,380
15.000
8.700
None.
19,000
None.
19,529
25,011
120,300

May 1,
l» 9 6 .
10,531
2o, 403
13,969
24.377
203,754
4 ’ ,040
63.493
3.322
611.813
None.
168,300
134,871
12,775
423
2,187
14,000
10,750
None.
11,500
3,600
32,242
59,769
154.600

Lard on the spot has continued to meet with a slow sale, as
both shippers and refiners have oaea indifferent buyers. Of­
ferings have been moderate and the cl tse was easy at 4’25c.
for prime Western, 3 85c. for prime City and 4‘55c. for refined
for i he Continent. No business has beet transacted in the
Local market for contracts and at the West the trading has
been quiet. Prices have declined under increased offerings
and the close was easy.
D A IL Y

O L O S tS O

P R IC E S O P

LARD

FUTURES.

Sat.

May................................. o.

Man

Tues.

Wed.

4-35

1-35

4-30

4 25

Ih u r.

4-37

Fr\.

4-27

Demand for pork has been limited to a few peddliDg orders
but prices have held steady, closing at 9@9\50c. for mess. Tal­
low has continued in active demand and large sales have
been made at 3I£c., closing steady. Ol o-ateariue has been
quiet and the close was easy at 4 ^ c. Butter, cheese and eggs
have been steady.
Coffee of Brazil growth has b en in molerate demand and
a slight further advance has been made in prices, closing
—The firm of N. W, Harris & Co., who have made muni­ steady at 8c. for Rio No. 7. Mild grades have also had a mod­
cipal bonds a special study for fifteen years past, have grown erate sale at steady values, closing at 14o. for good Cuouta
with that branch of the investment business, and until they and 25c. for standard Java. The speculation in the market
at length have been compelled to transfer their offices from 15 for contracts has been quiet, and the changes in prices
Wall Sireet to the new building at 31 Nassau Street, to obtain have been unimportant, closing dull and easier.
the accommodations necessiryfor the handling of the im
The following were the final asking prices :
mense amount of detail incident to a large and growing busi 'la y __________ 7-45(5. |A u g ................... 7-50o. I N o v ................... 7-fiOo.
ness. As stated in a booklet ju it issued by them, “ their June.................. 7-450. Sept................... 7"55o. D eo....... ........... 7*65o.
policy has been to recommend to investors only those J uly . . ............. 7 ’45o. I O ut ...................... 7 '6 jo.I J a n ..................... 7-790.
securities which they are willing to buy ou-right with
Raw sugars have been in more active demand and prices
their own funds and hold” .
Messrs. Harris & Co. make have advanced, closing firm at 3 5-16o. for centrifugals, 96a feature of furnishing quotations and valuations of degrees test, and 2 13-16c. for muscovado, 89-degrees test. Re­
municipal bonds to institutions, ' banks, trustees and fined sugars were active early in the we k; later prices were
representatives of estates at any time on r*quest, and advanced l-16c., and the close was quiet at 4 9- 6c for granu­
have an accumulation Of carefully indexed files gathered lated. Owing to the proposed duty of 10c per pound on tea
during its business career which eoable them to furnish in there has been a firmer market, and prices have advanced
restore gratis with valuable it formation about municipalities about 2%c. per pound, with a fair volume of business.
not otherwise accessible. Government bonds and street rail
Kentucky tobacco has been quiet but steady. Seed leaf
way issues are largely dealt in, as are also first mortgages, tobacco has t ad only a limited sale, but values have been
water works and gas bonds. Our readers, more especially in firm. The sales for the week were 1,175 cases.
vestors residing abroad, should write this firm for the book­
The market f > Straits tin has been quiet but the close wa3
r
let quoted above, arid any matter referred to them, relating to steady at 13-25@13'35c. Large sales have been made recently
investment in eithpr of their departments, will be carefully of ingot copper at 11c. for Lake and the close was quoted
considered.
steady at 10% @ llc. Lead has advanced and the close was
—C. H.White & Co., bankers, are now occupying their new firm at 33’l'@3-35c. for domestic. Spelter has been quiet but
steady at 4-10@4-15c. for domestic. Pig iron has hid a limi­
offices in the National Bank of Commerce Building, 31 Nassau
ted sale, with values easy, closing at $9 25@!2 00 for domestic.
Street,
Refined petroleum has been advanced closing at 8'25c. in
—A list of investment bonds and guaranteed stocks are
offered fi.r sale in an advertisement on page vm . by Messrs. bbls., 3-75c. in bulk and 6 70c iD cases; naph'ha dull at 6c.
Grude certificates have been neglected.
Credit balances
Redmond, Kerr & Co
—The Central National Bmk, Mr. Edwin Langdon, Presi­ have been advanced to 86c. Spirits turpentine has declined
dent, is now locit-d in the building recently erected upon but the close was firm at 29c. Rosins have been quiet but
steady at $1 65 for common and good strained. Wool has
the old site, corner of Broadway and Pearl Street.
—Messrs. R-ed & Flagg advertise a list of bonds in this been in increased speculative demand at firm prices. Hops
1ave been dull and weak.
issue, to which attention is directed.

THE CHRONICLE

win

|VOL, LXIV

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
May 7, 1897.
cleared, at the ports named. We add similar figures for
Xhb Mo v k m k s t
Crop, s u t indicated by our telegrams New York, which are prepared for our special use by Messrs,
from the South to-night, is given below. For the week ending Lambert & Barrows, Produoe Exchange Building,
this evening the total receipt.* have reached 43.MS bales,
O N S H IP B O A R D , N O T O L B A R B D F O E —
against 31.388 b a le s last w e e k and 47,360 bales the previous
L e a v in g
week, making the total receipts since the 1st of Sept., 1896,
Map 7 a i—
Other Coast(treat
ito ck .
Total.
a.Vt t,:.'* halva, against 5,053.793 bales for the same period of
Britain. France. Foreign wise.
showing an increase aince Sep.l, 1896, of 1,477,047 bales.
C

O

T

T

O

N

.

Fr id a y N ig h

o p

Q +ivim um
T a x . C3ty, A c,
B e * O r le a n * ...
M o b i l e ,............ .
F l o r i d * . . . . . ----S a r a n n iili_____
S rn o e w 'k . Ae.
GherSeeton........

1,674
720
•**•*»
715

'W ilm ington *. . .
W e e b 'io a , A c.
N o r fo lk ,,...—
M ew p ort
N ew Y o r k ..........
B o e t o n ___ ____

S
......
821
—
......
131

i,7 a s

702

,

t u b

JfOH.

Sal,

B e efip tf etf—

t

2
.....
47
......
......
100

22
......
428
......
...
165

9 ,2 1 8

3 ,213

5 ,0 0 5 1 1,2 04

12

332

5 ,1 9 5
763
2,133
5 ,2 5 9
87
..........
2 ,5 3 3
76
150
1 ,5 1 4
137
534

The following shows the w e e k ’ s total receipts, the total since
Sept. 1. 1898, and the stock to-mgnt, compared with last year.
TAi* Since Sep.
Week. 1 ,1 896 .

1898-97.

B altim ore..,
FbUadeL.Ac.

4,961 1,339,311
279 109,369
16,375 2,011,893
2,334 287,707
_.....
84,590
5,195 822,716
763 169,638
2,133 392.936
71,091
5,259
87 234,210
857
2,533 690,074
76
16,528
48,077
150
1 514 152 431
137
60,207
6 34
40,094

6,487 912,807
1,184 111,835
11,784 1,691,647
412 193,894
32,470
6,569 732,300
314 114,944
442 275,452
91
75,377
1,473 166,260
767
4,679 321,893
698 185,436
52,698
9, 5 SI?
I
125
47,098
487
40,912

T o t a l# .....

42.3 33 6,530,729

S tock.

1895-90.
ThU Since Sep.
Week. 1 ,1 8 9 5 ,

37,331 5,052,782

B etn p lt to
May 7.
G alveston ...
T ex. C., Ac.
New Orleans
M o b ile .........
F lo rid a ..___
Savannah . . .
Br'wlok, Ac
Obarleston. .
P. Royal, Ac
W ilm ington.
N o rfo lk . . . . .

N'port N..Ac.
New Y o rk ...

1896.

1897.
43,246
4,571
99,914
15,609

30,274
421
132,256
8,534

......

....

23,604
577
20,058

28,109
2.576
17,202

4,578

6,083

14,097
181,164

18,176
850
135,494

13,300
6,101

12,955
7,690

435,819

414,500

......

i n o r d e r t h a t c o m p a r i s o n m a y be made w i t h other years,
g i v e b e l o w the t o t a l s a t l e a d i n g p o r t s for s i x seasons.

we

Bceeipte at—

1897.

1896.

G*lve*'u Ac,
New Orleans
M o b ile ........
BftVfcxmah...
(Jh& ’ Um, <r
M
S»
N orfolk . . . . .
K. New#t4to.
A ll otto or*...

5,243
16,375
2,33 i
5,195
7,392
87
2,533
76
3,098

7,671
11,784
412
6,569
533
1,473
4,679
699
3,512

7,e5*
16,169
273
2,318
398
41
1,332
1,363
12,347

4,078
6,440
623
4,112
851
71
2,305
891
8,479

4,279
10,619
336
4,153
760
390
2,364
1,435
5,811

4,708
20,789
705
5,284
1,210
278
3,113
2,253
11,787

t o t . tills wk,

42,333

37,331

41,900

27,850

30,150

50,127

1895.

1894.

T otal 1 8 9 7 ...

16,943

7,235

30,356

7,949

62,483

373,336

Total 1 8 9 6 ...
Total 1 8 9 5 ...

27,894
40,095

343
12,243

21,875
38,324

6,832
9,354

56,944
100,021

357,656
544.741

4 2 ,3 3 3

10
......
150
......
......
4 00

6 ,7 9 4

86,942
35,035
18,004
17,058
4,609
7.097
172,364
31,627

Charleston
M ob ile...........„.
N o rfo lk ............
New Y ork.........
Other p orta___

27
. . ... .
536

30

12,972
8,211
5.000
3.000
11,000
7.000
8,800
6,500

4 ,9 6 4
279
16,375
2,334

343
......
2 ,8 4 9
185
......
205
......
736

0 ,899

992
1,957
None.
3.000
None.
2.000
None.
None.

632
279
1,714
15
......
1,201
7 63
13
5,259
21
..........
548
76
150
236
137
160

790
..........
3 47
751
......
565
......
605

P h li»d eIp h ’ a,A o

8,356
None.
5.000
None.
6.500
2.000
5,000
3.500

New O rleans...
S alves ton.........

729
......
5 ,507
3 03
**•*#»
2 ,098
......
15

Tot*!* this w eek

2,731
3,654
None.
None.
None.
None
300
None.

Total.

090
......
4 .284
3 60
.*«.*«*
321
......
62

......
170

843
2,600
None.
None.
4.500
3.000
3.000
3.000

Frx.

TAur*.

Wed,

Twer.

1893.

1892.

Speculation in cotton for future delivery has bi en less act­
ive and prices have tended downward, losing part of Jast
week’s advance. English advices have reported a subsidence
o f the demand for spot cotton, and this has prompted liqui­
dation by longs under which values have weakened. Satur­
day prices eared off a trifle as foreign advices were some­
what disappointing, and he C h r o n i c l k ’S report o f favorable
conditions at the South for planting induced selling. Mon­
day the market was lower. Foreign advices were weaker
and brought selling orders. The South also sold, and this
prompted selling by longs to realize profits. The cl-se was
barely steady at a decline of 7 to IS points for the day. A
further shrinkage in values ooourred on Tuesday. Foreign
advices were again weaker. Toe movement of the crop was
larger, and as the demand for spot cotton was reported as
falling off, there was an increased pressure to seilunder which
prices receded 4 to 7 points. Wednesday the market turned
slightly stronger. Foreign advices were firmer and this
siimulated something o f a demand from shorts to oover
contracts, on which prices advanced. Towards the close,
however, there was selling to realize profits and part o f the
improvement was lost, closing at a net advance of 2 to 5
points for the day. The market on Thursday w ,s dull and
the changes in values were unimportant, closing with prices
unchanged to 1 point lower as compared with the final
quotations of the previous day. To-day the market opened
unchanged to 1 point lower, and then fur her declined 3 to 4
points in response to easier foreign ad vie s. Later in the day,
however, it was reported that a large export business had been
transacted in the spot market and tha exporters were in the
market as buyers; this stimulated a demand from shorts to
cover contracts and values advanced sharply, closing firm
with prices 5 to 7 points up for the day.
Cotton on the spot baa had only a limited sale and on Tues­
day prices were lowered
To-day th re was a good busi­
ness reported for <-xoort and prices were advanced l-16c,,
closing at 7 ll-16c. for middling unland-.
The total sales for forward delivery for the week are
432.701 bales. For immediate deliverer the total sales foot
up this week 17,315 bales, including 7,569 for export, 2,456
for consum ption,----- for speculation and T SuO on contract.
The following are the official quotations for each day of the
past week—-May i to May 7.
On the basis of the rates on and off middling as established
b y the Revision Committee, the prices for a few o f the
grades would be as follows:
S a c.

Good O rdinary....................... .
Low Middling...............................
M iddling.............................—
S ood M iddling.............................
Middling P a ir .............................

7%
s<i«
8%

6%
7%
7%
S>»8
8%

S a t.

OTou F u e * W e d

Th.

F r l.

7
7=a
8
83.fi
8 7g

7
75fi
8
oo18
8 7a

g s

F r l.

Blooe Sept. 1 6530,729 5052,782 7687,266 5749,092 4821,530 6845,152

GULF.

T h o e x p o r t * f o r the w e e k ending this evening
of p i ;. >it bales, of which 33,011 were to Great

reach a total G ood O rdinary............................
Britain, 7,698 Low M iddling..............................
Middling ......................................
to Franc* and 6*1.885 to the rest o f the Continent. Below are Good Middling....... .....................
t!i« exports for the w e e k and since September 1, 1896.
Middling F air.............................
I
|

frerm—
Q l i f M i Q Q ..,.

IfVA fiivilnt! M a y ? . 1807. I From Sept 1 , I8SW to May 7 . 1 8 9 7 .
,
B z p o f U d to—
____________ ______________ Exported to—
Great
Gmtii- T o t a l
Great
Conti­
ftriV*. Franc* tunl. Week. Britain. France nent.
Total
n.»m Ze. , 6 , 1 6 0 1 3 ,0 9 7 7 3 2 .5 4 1 1 8 8 ,4 7 0 2 8 1 .1 0 4 1 , 2 0 2 .4 1 5

T * » . a * : f t Jt«L.

73

78

i.m t

w * - * 0 rf# a t$ i#

4 5 .5 1 0

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

6 1 0 ,1 1 2 1 ,8 1 3 ,9 5 1
3 0 , IBS

1 6 8 ,3 2 1

0 3 ,7 4 9

5 ,4 8 3

6 9 .2 3 7

3 6 1 .1 0 9

4 2 1 ,8 0 3

4 8 .2 6 8
,,

m

,,

90
............

i ,» i

H 3 .5 3 7

200

3 9 4 ,0 1 8

1,0 0 0

324 6v3

2 ,8 6 6

7 9 .0 3 4

n

8 .1 9 7

8

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

m

150

m

* 9 ,e t l

i.xm

2 7 ,3 2 4

1 3 ,7 9 #

450

.5 4 4 2 .8 0 5 ,7

4 0 ,0 0 1

m

2 .^ 7 2 .5 9 4

9 ,7 4 8

5 4 ,9 2 0

2 ,9 9 3

6 7 ,9 1 8

6 0 5 ,5 35 6 2 ,0 1 7 ,2 7 3 5 . 6 7 3 ,5 8 7

SlS8

1 # 0 0 .0 5 8 4 ,2 1 8 ,4 4 #

G7S
78,
7T
«
83,«
8%

M on Tue*

W ed

Th.

638
7 tt
7 '» ss
7=8

671®
6=8
74*
7 i'.i2 t i l ,
7X»i6
7=8

0 ‘s
7%
7%

6%
7ft
713*
73s

SALES OF SPOT AND CONTRACT.
SPOT MARKET
CLOSED.

Ex­
port.

6 8 1 ,9 7 2

1 5 1 ,9 0 1

6 7a
7x
9
7 78
83 fi
8%

6%
7tos
7 78
S fl8
83*

S a fd a y .
Monday.
Tuesday
W ed'day
Th’d ay..
Friday..
Total-----

Quiet ........... .
Bready at ^ d e c .
F irm .................
Steady at l i« a d .

Oon- Specsump. uZ't'n

2,191
622
200
1,637
2,919

\i>*o i>r* <0
-«3 4C 5 IC
*# 0*£ '# O

3 7*307

2 ,3 1 0

6%
7H
7%
7'=, a
8X
3
8®tfi

8 « ifi
81
#
3 i3 ,e

The total sales of cotton on the spot and for future deliveryeach day during the week are indicated in the following
statement. For the convenience o f the reader we also ada
a column which shows at a glanoe how tne market closed on
same days.______________________________________ ___

1 0 ,5 0 6

£

m

$6#

F r l.

MARKET AND SALES.

6 0 ,1 0 9

III

18*389

6*9
7%
£ >
7%

1 9 2 ,0 0 8

3
a

«m

mt

S a t.

2 0 0 ,7 9 4

4 3 ,2 7 1

6 .8 0 0

1 0 .3 0 5
IM B t

STAINED.

6»s
6=8
71.
7H
7=8
7=6
7X5),. 71&
18X
9
8**

T il.

7,569

2,456

---•

Salee o f
F uture!,

il

2 7 0 .S U

1 3 1 ,8 6 3

9 5 .4 3 1
1 ,3 8 }

K 'e w t N _ A c

T o ta l.

1 2 1 .0 1 8

. 8 -3

m

« 8 ,iS 9

M
&rfgiM

T o u t ..., ....

2 1 ,7 3 9

7 8 ,8 3 2

i,8 T *

r e a lt o r * !.,.

w#* to rn , . , ,

1 5 ,3 4 1

tm

6%

Low Middling.......... ...................
M iddling......................................
Strict M iddling............................
Good Middling T in ged ..............

2 1 .7 1 0

1 3 8 ,1 6 3

F%mi4».......

K o u F ue* W e d

UPLANDS,

Total.

7,000
300
500

437
9,436
1,319
1,297
2,081
3,245

73.600
116,000
101,800
81.600

7,800 17,815

482,700

M

0 0 0 © 0 t-0 C
O
O O O O O H O rH
c^ o © o c o o c q 00
fOlOCOjH
COlzT^ r “
W0505 «ji C 0 P
M 3
rH if; r
H
ci
O O O O 1C 0 O
C
OOOOCIO'J1 I
^ .O .O o q q i'
X P o 'o V x ’# I
^ * 1- C ^
0
O
t>*->W C rH
O
w
O C O o O O M 03
5 9 2 o o i> r ^
^ O O o lO O
f^O
COOOh^^Tiorjl
OCCCOwrH©
» r "N
rH W

©e> g o o o o o o o o o o
.© o O O O O O O O O O O O
v o ©
o q q q c ^ q q q q q o
» ;■ *

o

®NCOH
r-(

o :

a o o t^ P o c *

r-1irt r-r-*(N
T<
$

O O O O O O O O O O O
O O O O O O O O O O O
o q o q w q q q q q o

i s

a o o
CDOCO co ,o c o o
H CO
CO
®
CO
H

odh^io^co

rH
oo O tiih
^

rH

o o
O O O O O O O O O O O
© o o
O O O O O O O O O O O
05 O O o q q o c i q q q q q o
CDiM t# ® X lO ® r-1di [>-rf c i 0)

'’ NCj

*"£

*
H
.0 0

w

wo

Ci 00 w

w

t> oo

» r-< r~

O

* »««

rHiOrH

-a

rJtiO C m
O

? [5© o -t it jt i'd
J S . S ’. H W
:

a
®

§

£ 5

Cu

5 «

JS
G ^ n S 'd 'c J

•*-*

JS -r .O T* H<
v
00® ®

o

! » ; ; ; 3
-

O O O 10r* cq
Or^t^rfOirf

ft
: s ^

»0 C CO rH O
C
05 C W - ^ O I
O

OO05r-rH

S

O O h O *
© O O cr^ o s
co” C oT.o’
O

t HO*

2 0 ^ 0(
rfl -W

W
COOCO T
jti-.

l> iO r -

O -^ C O -^ r '

«

;©©©•:• *
. ftP<Pi<n ®
; M
•o o d c3 ’ ®

f

l-H

N

)

o

"0000000000

! ® no S 00 OD OD05 00 00 OC
3S 30 S-8S3SS2
>

ft

M

£ § § § £ £ , £

I

H

J O H lD D D

Total Sales.

Q

W

“ I B « 2 M H
o ® P ® pg
O a
X X

Saturday, May 1 Sales, total.............
PrlceB paid (range)
Olosiny....................

—

°

E i.3 S ts
0 .2

*

S

® a a o = - S ' S
2 § § | o a g

Mi s S S ' i S
J J O S lii

June.

r

B -e

I s l - S 'S g 0
* g
^ P P C
>> rC3 o

g S S S g g g
s

s

^

s

e

I b a

!

a a u o u fip ,
R A IL Y
D A IL I

May.

a

S u j t f
tT +3 a
^5 © rft .2

§ * *

~'r} *3 ca to® ® £ ft H r-.’
c

M arket,

I'UTVRKS,

g ,-

i« s n

1 e -^ -c'g ’S 's s-ss ft O P ^ ft © ©
S
S S - S " h a S'®‘ i2 J H H
g
■ * .£ ;§ 9 E E s

Market, P rices and
o
>*

i

► o ®

©
o «

a g« g
.
r ft +- p 2

'P

; +f<Sc8cee<Jc3c3e3cecec3 '
! <£-*^-£+f+f f t ft ft ft ft ft

z

6C i 9
a 2

O t3 O P

0 DQ
* f t 5 : i 8 . | 2 rn O 0 C O ? S
I®
© ©© S 5
3
a

9 0 p S -S ^ S
w g S « p f j <

®

.

m

m

o
o

Ip, fl
q

r*j Q c8 ®ft ® ft

ft

&
°

;■
!

:

&

g e o

.

‘rAJiOO
I e P o o
l o o ap<

:
:

I f f i u l x *
l s s 3 | g | P,
as+eis ® ft S X p
8S25SS& S 3

ft
ft

ft

'

July.

August.

Eufaula,
A la .ba.m a
M ontgom ery,
Selma,
Helena,
A rkan sas
Little R ook,
“
Albany,
G e o r g ia
Athens,
“
Atlanta,
“
Augusta,
“
Columhns,
"
Maoon,
“
R om e,
«
L ouisville,net K e n t u c k y
Shreveport, L o u is i a n a
Columbus,
M is s is s ip p i
Greenville,*
Meridian,
Natohez,
Vicksburg,
Yazoo City,
8t. Louis,
M is s o u r i ..
Charlotte,
N .C a r o l in a
Raleigh,
Cincinnati, O h io ..
Columbia,
8. Ca ro lin a
Greenwood,
Memphis,
T en nessee.
<
1
Nashville,
Brenham,
T e x a s ...,
Dallas,
Houston,

^5

17
15,455
130
128,052
75
68,847
54
50,456
373
37,688
7
32,404
112
56,018
496
130,341
968
281,009
227
44,940
27
60,764
131
62,512
108
7,036
164
102,272
114
34,647
........
57,529
195
40,971
180
63,732
252
80,614
.........
59,341
5,012
517,915
254
22,562
560
26,077
1,655
286,006
402
33,916
156
16,069
2,065
549,293
513
26,605
720
54,403
89
52,620
5,445 1,309,085
20,501 4,359,179

PR IC E S A N D
September.

BALES

October.

November.

December.

j

<1

120
49,189
712
532
97
5,279

48,020 144,401

22,707 3,531,193

5,119
2,844
311
1,415
85
96
1,869
275
200
258
473
303
348
8,047
254
522
1,617
402
235
14,279
480
70S
270
4,960

SSI
4,039

Ja nu a ry.

February.

March.
An I I.,
— ®

—

A pril.

-vj

£ £ a o5
?

§ © !« $
j ® 43'C h
r§^ 2 2
© ■ ce ©
>05 **
a

394
3,314
S«oft< © s
2« C
8
1,762
"Ilff o - p ©
1,178
16,251
1,706
l l f j » S
3,396
3.772
908
5,463
S fl.S -g S
3,788
12,813
685
5,109
© * u I ft
818
3,086
© 2 s
562
1,601
a
ft ®
45
349
■ aH g
“
1,353
5,212
f t _ . os 2
84
172
■ ^ © >- f t
O
550
4,500 ® -*2-3
M
143
2,631
405
2,492 a 5 f •**§ «
1,412
6,175 B
* O
a 00
s
787
6,341 ® « 1 0. fti « •©
8,761
45,289 O ft
C
rr, ® ^
180
50
584
1,500 3 -5 ft -r ft si
3,689
4,216
! - » § . § ”
125
168
785 ^
H w
>»
7,133
49,030 (3 t> ® fl
8
2
130
195 ® O-^ C fl ft
t» o
00 ©
650
2,418
100
1,040 3 S
^
6.737
20,926
f
*
3 s Icfl ©
_a f .
45,981 209,770
:s -d on

1 -3 . 2

t3

g- •
“

s

o

-© B .3 ►
,

n o i l
M 0 O T3

—

® --

A v ’ge.. 6*92 A v ’ge.. 6*95 A v’g e ..------- A v ’ge.. 7*02 A v ’g e ..-------8,100
2,500
200
6*89® 6*96 6*91® 6*99 — ® — ® —
— ® 702
6*88- 6*89 6 *9 1 - 0*92 6 * 9 4 - 0-96
A v ’ge.. 6*86 A v ’ge.. 6*89 A v ’ge..
5,800
3,900
6*84® 6*88 6*87® 6*92 — ®
6 -8 4 - —
6*87— 6*88 6 9 0 -

134
627
100
741
1,186

'tj « O ® ‘
!

g2 a *

6*93 A v ’ge.. 6*97 A v ’g e ..-------400
500
0-93 6*96® 6*97 — ® —
6*92

A v ’ge.. 6*91 A v ’g e ..-------- A v ’ge .-------- A v ’g e ..------1,400
6 90 ® 6 93 — ® —
— ® —
— ® 6 * 9 0 - 6*91 6 * 9 4 - 6*95 6 * 9 7 - 6*99
Av’ ge.. 6*90 Av’g e . -------- A v ’g e ..-------- A v ’g e ..------1,400
6*39 ® 6*90 ~ ® —
— ® —
— 3 —
6 * 9 0 - 6 91 6*94— 6*95 6 9 7 - 6*99

Firmer.
A v ’ge.. 7'31 A v'ge.. 7*37 A v ’ge.. 7*40 A v’ge.. 7*39 A v ’g e .. 7*10 A v ’ge.. 6*97 A v ’ge.. 6*87 Av’ge.. 6*v9 A v ’ge.. 0T*2
A v ’g e ..-------- A v’g e ..------- A v ’g e ..------60,600
300
2,800
8,300
25,600
3.100
4,500
7.600
6,000
2,400
6*82® 7*43 7*30® 7*34 7*31® 7-41 7*35® 7*44 7*33® 7*43 7 ’0 5 <> 7-13 6*84® 6*91 6*82® 6-91 6*84® 6*94 6*89® 6*98
r
— ® —
— ® —
— ® —
Steady.
7 3 8 - 7*40 7 * 3 9 - 7 40
7*11— 7 1 2 6*90— —
6 * 8 9 - 6*90 6 * 9 2 - 6*93 6*96— 6*97 7 * 0 0 - 7*01 7 * 0 4 - 7 06
m .5
Total sales this week
482,700
7,200
37,600
73,100
212,400
37.400
37.000
31,800
30.500
14.600
400
700
7*36
7*38
7*42
7*40
7*11
6*90
n ^ A verage price, week
6 S8
6*90
6*93
6*93
6*99
.........
Sales sinoe Sep. l ; ’96* 26,809,000 4,896,400
721,100
657,900
2,101,700
175,500
239,200
381,700
350,200
112,800
4.100
700
.........
p j=

a

Friday, May 7—
Sales, total.............
Prices paid (range)

181
1,928
1,649
1,064
4,310
1,075
112
2,121
12,916
1,844
598
1,258
390
4,982
168
2,200
1,397
2,054
7,961
1,713
33,631

28
16,301
172
117,221
50
34,849
195
49,753
461
97,929
4
26,721
127
49,917
755
90,432
1,778
171,447
in
46,667
69
50,104
313
50,909
31
5,616
399
77,273
74
29,339
50
40,425
174
33,052
117
47,679
302
64,796
15
52,310
4,501
545,565
180
19,628
450
20,411
3,804
188,247
125
15,189
163
15,227
1,576
413,120
161
20,788
422
53,209
103
4 l,o 3 9
5,997 1,029,619

A v’g e.. 6*96 A v’ge.. 6*99
3,900
3,000
6*95® 6*96 6*98® 6*99 — ® —
6*95® 6*96 6*99— 7*00 7*02— 7*04

Firmer.
A v ’ge.. 7*32 A v ’g e,. 7*36 A v’ge . 7*40 A v ’ ge.. 7*38 A v ’fte.. 7-09 A v’ge.. 6-88 A v ’ge.. 6*86 A v ’ge.. 6*88
81,000
1,200
8.000
12,400
45,200
5.100
3,200
3,300
1,800
6-85® 7-10 7*30® 7*33 7*34 ® 7 30 7*38® 7*42 7*36® 7*40 7-07tf 7 09 6*86® 6-88 6*85® 6*87 6 *86® 6*89
ft
Steady.
7*31— 7*33 7 3 5 - 7*36 7 * 3 8 - 7 39 7*37— —
7 -0 8 - 6-86- 6-87 6 * 8 4 - 6*85 6 *
a
86- 6*87
Thursday, M ay 6 — Dull; st’ily. A v ’ ge.. 7*30 A v’ge.. 7 33 A v’ge.. 7*36 A v ’ ge.. 7*35 A v ’ge.. 7 06 A v ’ge.. 6*85 A v ’ge.. 6*84
A v’ge.. 6*86
£ .i
Sales, total.............
49,100
500
1,800
2.700
~ 5,400
6,900
4,900
Prices paid (range) 6-82® 7*37 7*20® 7*32 7*31® 7*36 7*35® 7*38 7*34® 7*37 7*04 a 7 08 6*83® 6*86 6*82® 6*85 6*84® 6*97
>
o o
C losing...................
Steady.
7 * 3 1 - 7*33 7 * 3 4 - 7*33
ft:
7 0 7 - 7 08 0 8 5 - 6*86 6*84— 0*85 6 * 6 - 6*87
8
< a

234
304
81
501
1,318
122

Movement lo May 8 , 1890.
Receipts.
Shipm'ts Stock
This
Since
This
week. Sept. 1 /9 5 . week. Ma y 8.

OF FUTURES FOR E A C H MONTE.

Easier.
A v ’ge.. 7*50 A v’ge.. 7*50 A v ’ge.. 7*53 A v ’g e.. 7*51 A v ’ge.. 7*18 A v ’ge.. 6*99 A v’ge.. 6 96
73,600
700
4,800
15,500
30,000
6,800
6 .0 0 0
2,400
6*95® 7*55 7*46® 7*53 7*47® 7*35 7*50® 7*57 7*48® 7*55 7*14 to 7*20 6-97® 7 00 6*95® 6*97
Steady.
7 * 4 6 - 7*48 7 * 4 8 - 7*49 7*52— 7*50- —
7 1 6 - 7-17 6 - 9 8 - 6*99 6*95— 6*96
Monday, May 3—
Lower
A v ’ ge.. 7*38 Av’g e .. 7*41 A v ’ge.. 7*46 A v 'g e.. 7*41 A v ’ge.. 7*14 A v ’ge.. 6*93 A v ’g e .. 6*92
SaleH, total.............
116,000
2,100
11,200
46,200
1 2 ,1 0 0
10,100
5,100
ce .o
Prices paid (range) 6'87® 7-51 7*34® 7*41 7*37® 7*48 7-40® 7-51 7 39® 7*50 7*10® 7*18 6-90 9 6-98 6*87® 6 97
a
(/ -*j
)
B’rly steady. 7 * 3 4 - 7*35 7*37— 7 38
7 0 9 - 7*10 6 -8 8 - 6*89 6 *
86- 6*87
a -v
a?
Tuesday, May 4 —
Easier.
A v ’ge.. 7*32 A v 'g e .. 7*33 A v’ ge.. 7*36 A v ’ge.. 7*36 A v ’ge.. 7*06 A v ’ge.. 6-85 Av’ ge.. 8*84
P
Sales, total.............
101,800
2,400
9,000
11,800
46,100
h
7,600
7.800
6,500
Prices paid (range) 6*82® 7*40 7*27'® 7*35 7*31® 7*37 7*34® 7*41 7*33® 7*40 7-04 it 7 08 6*83® 6*88 6*82® 6*87
D
Closing....................
(ft
Quiet.
7*27— 7 2 8 7*30— 7 3 1 7*34— 7*33 7 * 3 3 - 7*34 7*03— 7*04 6 * 8 3 - 6*84 6*82— 6*83
Wednesd’ y, May 5—
Sales, total.............
Prices paid (range)
C losing....................

Movement to M ay 7, 1897.
Receipts
Shipm’ ts Stock
This
Since
This
May 7.
meek. Sept. 1,’ 96. week

T o w n s.

«
§

09

0

®

0
o

^

S F

4
5 O

O O O flO N
O O O O l '- r ^

.g

©
©

J CO

OOOCOIO^
OOOt^*or^
cit^O hT -^
cc
^ -h
• 05W-O rH
O

SJoToorf dcom’ ftH ic

0)00

r © 2 2 .2 s ^ 2

O O O iO M O

O O O O O O O O O O O
O O O O O O O O O O O
O jO O ©CO o 0 0 0 0 0

CO co co

i ®
rH

r
© M
f l - g S
t p a -H
• S 'W 'o

J lJ S 'd © n f l 'd t S 'O S
5 £ S 2 S & ¥ - 2 '5

05O C M»0rH
O
< 0505W<>C
N
0 *

3

„

P. ’

THE CHRONICLE

fcOli

O C TO iTlO N H FOB M lD D U N Q OO TTO S AT O T ilE H M A .R 11K T S .-

g^Tjiv are eU«»ig quotations <rf middling cotton at Southern
*n ■
;
cotton markets (or each day of the w eek,
If***
Me* 7.

A lN r. j

Mott,

Thun,

Wednet.

Tins*.

Fr4.

7>a
71*
78)
7*a
7>a
7>*
7%
7*4
Be* OHantj
7 ti
7M
7**
7*i*
UcMie.......
7i%
7**
7*s
7H
S * v * a t s * h ..,
73a
7H '
7M
7*e
Cfearieetoo.,;
7%
7i%
7%
7%
V B a A M M B .'
7H
i
7*3
7h
7*
9
7h>
B otfoU t -----7%
Beaten.....
7j|i.i
7W1
4
713,*
B altim ore
7Is
7“*
7’ 0
PU lfcteSpkU
73,
71*
71
**
7%
7%
7%
7M
7%
7%
Mem p h i* .,
77,9
77,*
77,«
f t b o n )* ,.
7%
7%
7M
77,8
S »a »to n
7*9
7>s
7b
7*9
74»
7 hi
7%
7=8
7%
7>*
The closing quotations to-day (Friday) at other important
Soutliera markets were as followB.

7b
7*u
7*»
7l|*
7%
7%

tt*l<nwtos . -;

ru
?ir

7 * B n fa u la ..........
41

7i«

7%

j j u s i a ...........
C h a r lo tt e .........

6h

U t i l e R o o k ... .

O o ta m b a e , O a .

7H

M o n t g o m e r y .. .

7»s

C o lo m b o * . JitM

7

1 N a a h v lU e ..........

7b

N atchez...........

7ft18

R a le ig h .............

7>*

S e l m a ...................................

S h re v e p o rt.......

7

Receipts prow the P lantations.—The following table
Indicates the actual movement each week from the plantations.
The figures do not include overland receipts nor Southern
consumption; they are simply a statement of the weekly
movement from tlie plantations of that part of the crop which
finally reaches the market through the outports.
Rec'vts from Plant***

W
«*ii
1*87. ' lews. 1 1885. 1887. 1896. I 1833.
S l.e s :

Apr.

16,«3»
* i e ___ *8.7*6
- S3. . . . . 47.S60
“
*0.......i S U S S
M*r 7 ... I ia . 336,

60,502 116,767 459,060 293,9*2 278,oie
87,8*7; 93.5»aiS3*,»70 mo.017 217,8*8
*0.0:6; 80,617j201,020 288,809 212,57.”
2*7,10* 180,841
61,666
& .a38 6»,» 3: ; 171,»20je 6S,0* i 165,978
9
37,831 l i , 000i u i . 401i20t>,7;0 118,553

1897.

1896.

1896.

30.603
19,759
20,045
29,0 i7
21,661
u .S ii

37,690
44,912
22.7SS
38,101
25,768
14,057

68.751
65,456
45,541
4:4,833
36,274
24,475

The above statement shows: 1.—That the total receipts
from the plantations since Sept. 1,1896, are 6,554,536 bales; in
1695-70 wi re 0,339,832 bales; in 1894-95 were 7,778,484 bales.
8.—That although the receipts at the outports the past week
were 42.333 bales, the actual movement from plantations wa
only 14.814 bales, the balance being taken from the stocks a 1
theinterior towns. Lastyear the receipts from the plantation for the week were 14,157 bales and for 1895 they wer
34,475 bales.
O v e r l a n d M o v e m e n t f o e t h e W e e k a n d S in c e S e p t . 1 .—

W give below a statement showing the overland movement
e*
foi uis week and since September 1. As the returns reach ue
by telegraph late Friday night it is impossible to enter so
largely into detail as m our regular monthly report, but all
toe principal matters o f interest are given. This weekly
publication is of course supplementary to the more extended
monthly statements. The results for the week ending May 7.
and since Sept. 1 in the last two years are as follows,
1896-97.
M ay 7.
Week.
....................................
Yt* Cairo...............................
VI* P a r k e r .................................. .
V|* K v a n a v t U e ............................
V is L otilirvllle. .............................
VI* Cincinnati......... ..............
v i * other route*, A o .....................
T e ta l KTOM o v e r la n d .................
D ed u ct i h ip m m tt—
O v erla n d to if. Y ., B ou ton , A c ..
B e tw e en interior t o w n * ......... ..
In la n d , A c ., fro m S o u t h .............

5,012
1,933
1,078
"60 2
968
*00

Since
B ert. 1
501,267
258 ,49 1
17,4 64
2,584
131 ,46 4
133,108
114,208

9.097 1 ,159,586

1895-96.
Week.
8.761
2,245
260
1,092
2,584
1,291

Since
Sept. 1.
5 0 7 ,92 5
228 ,67 1
17.1 69
1,68L
124,839
9 4,4 67
88,3 28

16,233 1 ,0 6 2,98 0

2,335
12
850

300 .80 9
4,209
37,462

3.197

342 ,48 0

4,430

3 07 ,52 9

L e a vin g to ta l net overland'..
6 ,8 0 0
8 1 6 .10 8
* IncJudinit m o v e m e n t b y r*U to C an ada.

31,803

755 ,45 1

T o t* !

to he d e d u c t e d .......... .

3,198
15
1,217

2 5 7 ,7 0 0
3,359
4 0 ,4 7 0

The foregoing shows that the week’s net overland movement
this y e a r h a s been 6,860 bales, against 11,803 bales for the
week in 1896, and that f o r the season to date the aggregate net
overhand e x h i b i t * an increase o v e r a year ago of 00,065 bales.
i n Sight find Spinner**
Tithing*.

1806-97.
lim ee
Sept, 1.

Wmk,
..........
8 * rw l»t* * t p ort# to K ijr 7
42.333 6 ,530,729
I ft*
%o M ay 7 ___ _. . . . . .
6 .9 0 0
8 10 ,10 0
etm m m p tktr, to M a y 7*. 1 7 ,0 0 0 7 0 0 ,0 0 0
7otm
t q terkur

Week,

Since
Sept. 1

37,331 5 ,0 5 2 ,7 8 2
11,8 03
755,451
17,000 0 85,000

..................
60,133 8 ,0 5 2,83 5 60,134 6,4 9 3,23 3
in ©x.m m . . . . . . . . . * 2 7 ,5 HI
23,8 07 *2 3,2 74
177,070

Omm# in to mheht f a r i n g wm k*.
U K * ! I s might % a y
...
Ttartlrti*9itf

1895-96.

M ay 7,.

38,014
8 .0 7 6,64 2
18.918 1 .533,372

42,860

......

6,6*76*303

2 1 ,8 0 0 1 ,455,785

ft win he R
.--n by the above that there has come into sight
during th. w<ek a-,bi t bales, against 43,880 bales for the
week of 1896, and that the increase in amount in sight
to* nig hi as compared with lastyear i> 1,408 330 bales.

{VOL, LX1V.

W eather Reports nv T elegraph .—Our telegraphic ad­
vices from the South this evening indicate that the weather
has been favorable as a rule and that planting has made
good progress where not already completed. Rain has
fallen in many localities, but the precipitation has been
light at most points and in some districts moisture is
needed. There are a few complaints that cool weather at
night is checking growth. In Texas the plant is doing well
generally. The Mississippi River is falling slowly in the
vicinity o f Memphis and planting is being carried on as
fast as the water recedes.
Uutveston, 1’e xas.—The weather during the week has been
very favorable for farm work. Showers which fell over
North and Central Texas yesterday and last night were very
much needed and were very beneficial to cotton, but the
crop needs more rain over South Texas. The plant is gen­
erally doing well and there is a fair stand in most sections.
Planting is not yet completed over North Texas. The warm
weather now prevailing is very beneficial t-o the growth o f
the crop. There has been but a trace of rain here. The
thermometer has averaged 68, the highest being 78 and the
lowest 59. April rainfall one inch and twenty-four hun­
dredths.
Palestine, Texas.—W e have had rain on two days o f the
week, the rainfall reaching ninety-eight hundredths of an
inch The thermometer lias averaged 68, ranging from 48
to 88. April rainfall tw o inches and one hundredth.
Huntsville, Texas.—There has been rain on one day during
the week to the extent of ten hundredths of an inch. The
thermometer has ranged from 50 to 87, averaging 68. April
rainfall one inch and seventy-three hundredths.
Dallas, Texas.—W e have had rain on two days of the week,
the rainfall reaching sixty-five hundredths of an inch.
Average thermometer 66, highest 86, lowest 46. April rain­
fall tw o inches and fifty-eight hundredths.
San Antonio. Texas.—W e have, had rain on two days dur­
ing the week, the precipitation being four hundredth’s of an
inch. Tiie thermometer has averaged 71, the highest being
86 and the lowest 56. April rainfall one inch and eighty*
four hundredths.
Luting Texas —We have had rain on one day o f the past
week, to the extent of six hundredths of an inch. The ther­
mometer has averaged 70, ranging from 54 to 87. April
rainfall five inches and seventy hundredths.
Columbia. Texas.—There has been no rain the past week.
The thermometer has ranged from 50 to 84, averaging 67.
April rainfall two inches and thirty-three hundredths.
Cuero, Texas.—Rain has fallen on one day of the week, to
the extent of five hundredths of an inch. Average ther­
mometer 70, highest 88 and lowest 52. April rainfall two
inches and eighty-five hundredths.
Brenham, Texas.—There has been no rain during the week.
The thermometer has averaged 70, the highest being 87 and
the lowest 58, April rainfall, one inch and ninety-eight
hundredths.
Fort Worth, Texas.—It has rained on two days of the
week, the precipitation having been seventy hundredths of
an inch, The thermometer has ranged from 48 to 85, averaging 66. April rainfall, three inches and thirty-two hum­
dredths,
VPeath rford. Texas.—W e have had rain on three days
during the week, to the extent of ninety-two hundredths of
an inch. Average thermometer 66, highest 84, lowest 49.
April rainfall, tw o inches and forty-three hundredths.
New Orleans. Louisiana.—Dry weather has prevailed all
the week. The thermometer has averaged 69. April rain­
fall five inches and seventy-five hundredths.
Shreveport, Louisiana.—Tin re has been only a trace of
rain during the week. The thermometer has averaged 69,
ranging from 54 to 84. During the month of April the rain­
fall reached one inch and seventy-one hundredths.
Columbus, Mississippi.—The weather has been too cool and
windy. Moisture is badly needed. W e have had no rain
during the week. The thermometer has ranged from 52 to
86, averaging 67. April rainfall three inches and forty hun­
dredths.
Letand, Mississippi.—Dry weather has prevailed all the
week. Average thermometer 62-9, highest 79, lowest 51.
April rainfall two inches and eighty-three hundredths,
Vicksburg, Mississippi.—we have had no rain during the
week. The thermometer has averaged 66, the highest being
80 and the lowest 54.
Little Hock. Arkansas.—The week's rainfall has been three
hundredths of an inch, on one day. The thermometer has
averaged 56, ranging from 49 to 81.
Helena, Arkansas.—Some planting has been done in the
overflowed district, but the river is falling so slowly that
much cannot be planted until too late. On the uplands
crops have been injured by cool weather and cut worms,
necessitating much replanting. We have had dry weather
all the week. The thermometer has ranged from 48 to 74,
averaging-59. April rainfall five inches and fifty-five hun­
dredths.
Memphis. Tennessee. —Planting makes good progress.
Nights have been rather cool for young cotton. The river
is now thirty-eight feet on the gauge and falling. Planting
is being carried on as fast as the water recedes. It has
rained on one day of the week, the rainfall being seventytwo hundredths o f an inch. Average thermometer 61’6,
highest 79'9 and lowest 4.8. April rainfall five inches and
fifty-two hundredths,

THE CHRONICLE

M a y S, 1897.|

Nashville, Tennessee.—-It has rained on one day o f the
week, the precipitation reaching twenty-nine hundredths of
an inch. The thermometer has averaged 53, the highest
being 78 and the lowest 40. April rainfall five inches and
seventy-nine hundredths.
Mobile, Atabain i.—-Cotton-planting is about completed,
except on some lowlands. Cool weather is checking growth,
injuring stands and necessitating considerable re-planting.
Rain and warm weather are badly needed. There has been
rain on two days of the week, to the extent of seventeen
hundredths of an inch. The thermometer has averaged 67,
ranging from 52 to 83. April rainfall five inches and sev­
enty-three hundredths.
Montgomery, Alabama.—Farmers are making good head­
way but some re-planting has been necessary. Late plant­
ings are coming up well. It rained on one day during the
early part of the week, but the latter portion has been fine
and warmer. The rainfall reached one inch and thirty hun­
dredths. The thermometer has ranged from 55 to 74, aver­
aging 64. April rainfall six inches and thirty hundredths.
Madison, Florida.—The acreage will probably be 5 per
cent greater than last year. It has rained on one day of the
week, the rainfall reaching thirty hundredths of an inch.
The thermometer has averaged 72, the highest being 86 and
the lowest 54.
Savannah, Georgia.—There has been rain on three days of
the week, the rainfall reaching thirty-nine hundredths of
an inch. The thermometer has ranged from 51 to 81, aver­
aging 67. April rainfall three inches and thirty-five hun­
dredths.
Augusta Georgia.—W e have had rain on two days o f the
week, the rainfall reaching thirty-four hundredths of an
inch. Average thermometer 65, highest 80, lowest 48.
April rainfall three inches and seventy-five hundredths.
<'narlextou. South (Carolina.—It has rained on four days
of the week, the precipitation reaching ninety-two hun­
dredths o f an inch. The thermometer has averaged 67. rang­
ing from 53 to 80. During the month of April the rainfall
reached one inch and eighty-nine hundredths.
Stateburg. South Carolina. — There have been several
thunder storms during the week, the precipitation having
been two inches and twenty-three hundredths. Weather too
cool and windy for cotton. The thermometer has ranged
from 47 to 78, averaging 63'3. April rainfall, four inches
and eighty-six hundredths.
Greenwood, s\outh Carolina.—There has been rain on two
days during the week, the precipitation reaching seventysix hundredths of an inch. The thermometer has averaged
62, the highest being 72 and the lowest 52.
Wilson, North Carolina.—We have had rain .on two days
during the week, the precipitation being two inches and
twenty-six hundredths. The thermometer has averaged 65,
the highest being 86 and the lowest 48.
t’he lolloping -,oalemem, we nave also received by telegraph,
showing the height of the rivers at the points named at
8 o’clock May 6. 1897, and May 7, 1896.
M ay

6. ’97.

M ay

7, ’96.

F e e t.

19-3
30 3
16-4
11*3
515

New O rleans.......
Memphis ..............
N a sh v ille ............
S hreveport........... .........A bove zero o f gauge
V icksburg............

F e e t.

9-3
13*2
4 0
3*3
20 7

M a n c h e s t e r M a r k e t . —Our report received by cable
to-night from Manchester states that che marfett is dull for
yarns and quiet for shirtings. The market iXoai not respond
to the movement in Liv rpool. We give the (trices for to-day
below and leave tnose for previous weeks of this at,d last
year for comparison.
1897.
32#

O op.
T w ist.

<.
1
Apr. 2 6 %
“ 9 0516
“ 16 83a
• 23
•
44 30 08)
May 7

1896.

8 k Lbs. 8 h i r t - O o tP n
i n a s , c o m m o n M id .
to f i n e s t .
U p ld s

d. 8 .
3 7 <i6 4
<»7:i|5 4
#
® 7k ■
t
4
*738 4
®77ie 4

d
Ok

8.
#6

0
0

4>6
®6

o ®e
08)® 6
1 ®6

d.
7
7
7
7
78)
78)

32# t to p .
T w is t .

d.
k
08s
4k
68)
4^8 6 k
4M 08)
47., 69,.
d.
4

6

8 k l b s . S h i r t - O o tl’ h
M id .
in a s , co m m o n
TTpld
to fin e s t .

s. d.
s. d.
d.
®73a 4 4 ka»o 8 8 a
4 4k # 6 88)
®73s 4 4 k ^ 6 881
®73a 4 4 k d)Q 8 8 )
® 7k 4 4k® 6 9
® 77,8 4 5 ® 6 98)

d.
413qO
413;.,
43a
41332
41332

47ie

A L E X A N D R IA R E C E IP T S A N D 8 U IP M E N T 9 .

A le x a n d ria , E g y p t,
M ay

5.

R eceipts (oantars*)___
This w eek..................
Since Sept. 1..............
|
Exports (bales)—
T o Liverpool ....... .
To C ontinen t!.........

1896-97.

1895-96.

1894-95

32,000
5,690,000

3,000
5,173,000

4,000
4,516,000

T h is
w eek .

S i n c e 1 T h is I S i n c e
S e p t . 1.
w e e k . \ S ep t. 1.

I

T h is
w eek .

S in c e
S e p t. 1

I
6,000 305.000 •1,000 310,000
5,000 317.000 | 9 ,0 0 0 1289,000

Total E u rop e_____ 11,000

0 2 2 ,0 0 0

4.000 249.000
9.000 310.000

73,0001599,000 113,000 559,000

H ig h W a t e r in t h e M i s s i s s i p p i . —There has been a con­
siderable improvement in the flood situation the past week.
In the vicinity of New Orleans the crisis has not yet passed
but above the river is falling steadily. Where the overflow
has already subsided work is being actively pushed in plant­
ing cotlon.

907

S t a t e A g r i c u l t u r a l R e p o r t s . —We give below summaries
of the reports for the week ending M iy 3, issued by the va­
rious States, under the auspices o f the Weather Bureau of
the U. S. Department of Agriculture, so far as they apply to
cotton,
N orth Ca r o l in a .—E astern D istrict.—Crops m ade slow growth, this
week on account of the dry w eath-r, but farm work progressed fa vor­
ably, as grass is nor yet troublesom e. The dr -ughc was broken by fine
showers Friday and Saturday, which thoroughly soaked the ground, so
that prospects for next week are much better. Cotton is pretty w ell
all planted, ex cept in north portion, and a good stand is now ensured.
Central District.— A generally fair week; warm during the dav up to
Sunday, but too cool at night fo r growth. Land dry and in bad con­
dition up to Friday. V ery beneficial and much-needed rains fe ll Frida> and Saturday. Perhaps the bulk of the cottou crop has been
planted and is com ing up slow ly ; a good staud now assured. W e s t ­
e r n D i s t r i c t .—A com paratively warm, dr y werik; too dry to plow u p ­
lands, but a great deal o f lowlands were planted to coru. Light
showers occurred o n 26th and the drought was broken by a general
and much needed rain on Fridayand Saturday. Farm work progressed
favorably. Co ton and corn are still being planted and h r ,t planted is
ooming up nicely.
S o u t h C a r o l i n a . -T h e warmer w eather and rain had a very ben e­
ficial effect on grow ing crops. For the greater portion o f the week,
however, it was too dry to finish preparing some lands for planting!
nevertheless farm work progressed rapidly, and is generally as much
advanced as usual at this season, although in some localities tne sea­
son is considered late. Farmers are generally well up with their
work. The percentage o f cotton yet to be planted ranges from five to
twenty-five, the latter in Chester and York and to tne westward.
8tauds are greatly im proved and are generally sar.isf totory. The late*
rains will briDg up the recently planted to good stands, ‘in the east­
ern portions o f the State cotton has received its fir.it cultivation and
some fields have been c ho oped to s ands It is estimated that cottonplanting will be fluished in about ten days.
G bokgia — Daring th s early part o f t te week dry weather prevailed,
with abundant sunshine and s^asonab’e temperature Tne drouth was
br. ken on I'llurs lay by good soaking r uns which covered nearly
every section o f 'th e 3utte. Rain also fell oa the follow ing day and
night. These r^ins did much good, giving renewed eaergy to grow ingcr pa and softening up the ground s » that it co dd be plowed. Cotton
is ab**ut all planted; some is up aud b-d ig chopped. Reports relative
to this crop are favorable as a ruie, though m a few localities the
stand is rather poor.
v —The w eeken din g Monday, May 3, g iv e conditions g en ­
erally favorable to farm work over the entire Stt e. and while a gen­
eral rain on ths 29th and 30th was very benefioial. boih to grow ing
crot s and crusted laud, still the gr iwth of ail crops h s b^en r -carded
by continued cool weather. Cotton in all stages, from late planting
in rorthern couuiies to chopping out in southern and central p ortions
of State; some few reports of good stands, but as a whole cotton is
slow and stands injure 1 by cool weather.
Mississippi.—The week ending May 3 was favorable for firm work
generally, but the cool nights were detrimental to vegetatiou Cottonplanting is nearly com pleted excupt In lowlands Borne cotton is up
to a good staDd and being scraped and chopped. Cottou was killed in
p l»ce« by the cold weather, and sntne o f it. In s been replanted. Corn
is doing well, and where well cultivated it is tassolliug. Worms are
iDjuiiug cotton, coru and gardens locally. Reports «>f fruit are vari­
able. Gnats are still annoying stock in som e localities. Water reced­
ing slowly in the Delta, and prospects som ewhat better fo r raising a
cron.
L o u isiana .—R ain fell in all portions o f Loui-iana during the week
endiug Monday. May 3, ls 9 7 , bat the distribution was tinequ il. The
rains were beuettcial to vegetation generally, but the effect o f the cool
weather is shown on the early-planted cotton, making it look slokly,
and some dying out, necessitating additional replanting. The cotton
is about all planted, and so t e is being chopped out. Defective seed
doubtless cuts some figure in the stands o f cotton reported The rains
will briog u p th« late-seeded cotton, and with warmer weather a better
showing should be m a le next week. Work on the levees continues
all along the river parishes. Reports from Madison Tens is and Con­
cordia parishes are missing, but the situation in these parishes oan be
surmised. The back water is ruining lowland crops in Oatahouia and
is encroaching upon the low er lauds esst o f the Teohe in St. Landry.
The situation continues decidedly critic il for the uisiriot below the
month o f he Red.
T e x a s . - H ie general showers at the opening o f the week were
neeued for all crops, but the amount or r t iu f.h was not sufficient in
m toy loc tlities, ami esp oi ally along the coast, where the dry weather
still conti ues. These showers would have been im re beneficial had
tin y not been followed by cool nights, that checked the grow th o f all
vegetation.
Cotton-planting is generally completed, except over
Norili Tex «s. where there is much yet to be planted Early-planted
cotton is up aud there is a good stand generally, but it is a concensus
of opinion among the correspondents that the nigh s b a y -) been too
cool for the plant au<l qheoked its growth coosiderab y. Much cotton
has been chopped out and the fields are clean aud in fair condition,
and, wuh warmer wea her, the plane w ill soon recover from the
effects o f the cool nights.
T e >NBSabiK.—The favorable conditions of sue shine and showers dur­
ing the early part o f ihe week, follow ed by a good rain on the 30th,
o oot'ib u tea to make the week peruaps the most favorable of the sea­
son, and certainly to promote the grow th o f young crops and facilitate
the o<’inpletiou of the su< ing plantings, many o f which had been so long
delayed. A s a result, most o f the corn and o>lto a crops are in the
ground, and ihe form er reported com ing up wed.
A rkansas —Northeast Section — Weattier cool ana pleasant, and fa v ­
orable for planting and farm work of all kinds, but too cold for rapid
germination o f seed and grow th o f vegetation. The water is receding
quite rapidly in the overflowed district, at d planting is being pushed
as fast as ihe water recedes. Much cotton and corn planted; in som e
localities all the cotton crop is reported plant id. Cotton and oorn
com ing up very slowly and much damage beiag done to these crops in
localities by cut worms; th* cool weather has oaused the crops to look
yellow and sick ly ; rei/tantlng will be necessary, ’tout /least S e c t i o n —
Cut worms are doing much damage to cottou and corn in this section ;
in some places the stand was injured to such an extent that replanting
was necessary. The weather has been generally favorable for plant­
ing but very trying on the growing crops, so cool as to stop the growth
o f cot.ion and corn and give it a tendency to turn yellow. Planting is
practically completed an i corn is being worked out. Central S e c t i o n
Weather entirely too cold and crops have made but little growth. Out
worms, bud worms and flea bugs are damaging corn and cotton in
localities and are eating up garden truck. Planting o f corn and cotton
nearly flushed except where replanting will be necessary; both
crops are com ing up very slowly and the plants generally are
poor
The water in White River bottoms o f Prairie County
is leaving very fast and planting has begun in low lands.
S o u t h w e s t Section.—Weather very favorable for farm work but too
cool and dry for favorable grow th of crops. The dry, cool weather has
been favorable for depredations of cut worms, which have done great
damage to both cotton and oorn ; in many localities both crops will
have to be replanted. Cottou is also suffering Lorn “ sore shin.”
N o r t h w e s t S e c t i o n .—Weather cool and d etiim eita l to growing orops,
especially cotton. Planting well along toward completion. Cut w orm s
damaging potatoes aud COi^on but apparently h *ve uot dene corn any
harm.

i H K CHKUN1CLK
* »rs
Pwrits# us*' in n | 2 #f »!>«» « eek lb# iHnjpftrnnirtP w m
Mv a!*H M
US
m*¥Wini tu an M cU'itif*. but the !» n # r part wan
N ;;.
t m h !*• tti&fi !M ■ h « i f tii« Stilts rains Uav« interfered
or t**» <**w *it. f 1 Ubu-plAotloK U pro*
*
.ititnm*f« rt* euuuues.
■Hilly 'f*
f«*ml wJih furm work
tee**'¥ f'Min* lmv»‘
iMA “*-T& *
-,
W p elite#1 to, #*» Jet n, o-n itu l #u » wrHeru sections. and u«»t, it is thought, loo, that some o f \h \
C flip
if t It p e l ;
1 m *'< * up on »ce**ticjt o f soil bring too ooo! anu
* ittff
fofit'illfla , ’Hit* rainfall tbfoiiguratterr 1*
r-tt*.
*<
i ranrb l#ss f Im o t « o t io T w o t lo o a f it w a s * ;
n ffrfx
».ra gi Ata lifoplv *tiflS*i*tit for all need*, Farm work:
t*» t
m i**0H tfm rtl i il r ig b i; corn an«1 cotlon hav© been cultivated. All
*
w»ii ix co p t ooisoB. which Is som ewhat backward on
'*•hi
*
mp*
imint>ed c ool weather.
f
m m & i«• tii
j i r e B e n s . B a g g in g , & c .— T h e r e h s t been a m o d e r a te
a u scu n t o t b u r i n s * in ju t e b a g g in g d u r in g fcbe w e e k u n d e r
i, vu « s o d p r ic e s an* as tatE q u o t e d , t 1 » .: 5 ! j o . fo r I ' i lb s.,
A
fo r 2 li s. a n d d ^ e f e r s ta n d a r d g ra d e s . O a r l o a i lo ts
o f stan d ard b r a n d s « r e q u o te d a t 5 ^ c . f o r \% lb s ,, 5% C . f o r
2 I t « a r d 0 \,c. f o r
■
lbs. f. o b. a t N e w Y o r k . J u te b u tts
ti.iv.. In-, n »u fair d e m a n d a t 1 ( S c. fo r p a p e r q u a lity , T 3 0 c .
f o r m ix in g a r d ! ..o . f o r b a g g in g ,a ll to a r r iv e .
i f , ii M . ssis Ira A . K tp & C o .'s c ir c u la r w e a sc e r ta in th a t
t b e d e liv e r ie s o f ju t e b u tts a r d r e je c t io n s a t N e w Y o r k a n d
B oston d u r in g A p r il w e r e 59,1ST ba les, a g a in s t 05,036 ba les
fo r the t a m e m o n th last y e a r a n d fo r th e fo u r m o n th s s in c e
J a n u a ry 1 th e le liv tr ie s h a v e b e e n 142,177 ba les, a g a in st
217.255 hairs last y e a r . Im p o r te r s a n d s p e c u la to rs a t N e w
Y o r k an d B o sto n o n A p ril 33 h e ld n o s t o c k , a g a in s t 3,600
bale* at tb e c o r r e s p o n d in g d a te in 1 8 9 6 ; a n d th e a m o u n t
at) .at fo r th e U n ite d S ta tes r e a c h e s 155,630 b a le s, a g a in st
to),853 bairn last y r a r .
E x c h a n g e s .— T he f o l l o w i n g e x c h a n g e s h a v e b e e n m a d e
■during t h e w e e k ;
0.4 pit. m «*Jrh. 200 Nov. fo r O f t. •’01 pit to exoh. 400 tu g . for July.
54 pd. to e xo h . J.000 Dee. for A ug ! ’04 pit. to cx eh . 200 Ju re for July.
o 2 i'd. to each. 200 Aue. for July, j '52 pd. to exek. 500 N or. for Aug.
01 pd. to cxeh. 200 N or. fo r Deo. '03 pit. to ex ch 2.20U T'ne for Aug.
01 p.1. •« oxrh. 500 Nov. for Jan.
0? pd. to o x o h 5,700 May fo r July,
D J p d .to e x c h 400 Oct. fo r Soot.
’06 pd. to exob. to o May for Aug.
02 pd. toexetr 1.900July for Aug. I 02 pd. to exoh. 200 Ocr. for Dec.
20 pit. to exob 000 Ocr. for Sept. | 05 pd. to axoh. 200 May for Aug.
OS pd toexeh . 2 .b 0 i Nov. f r Feb. i '49 pit. to exob. 400 Dec. for Aug.
54 pd. to e x ch . 1.000 N ov.for July. | 53 pd. to e x cb , 400 Nov. fo r Aug.

[V O L . L X F V .

Satur.

r1 -

Total bales.

7 47* uvU od and 260 te a Island ...H ila ry, 1,466 ....
1,531 . . . . ............ .................................................... 13,057

Tubs.

fir-

MVrfne*. T/iurs.

statement of the week’s sales, stocks. &o., at that port.
A pr.
Sales o f tlie w e e k .......... bales.
O f whioii exporters took ___
O f w hich speculators took ..
Sales A m erican..........................
A ctual e x p o r t.............................
F orw arded..................................
Total stock—E stim ated..........
O f whtoh American—Estlm ’d
Total im port o f the w eek ........
O f which A m erican...............
Am ount afloat............................
O f w hich A m erican...............

Apr.

16

5 9 .0 0 0
1 .0 0 0
1 .0 0 0

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

A pr.

23.

May 7.

30.

34,O O C
7 3 .0 0 0
5 0 .0 0 0
1 ,4 0 0
1 ,5 0 0
2 ,0 0 0
200
1 ,4 0 0
1 ,0 0 0
3 2 .0 0 0
6 4 .0 0 0
4 4 .0 0 0
6 ,0 0 0
7 ,0 0 0
8 ,0 0 0
5 5 .0 0 0
7 0 .0 0 0
0 7 .0 0 0
1 .2 5 4 . 0 0 0 1 , 2 0 6 , 0 0 0 1 . 1 7 0 . 0 0 0
1 .1 0 0 .0 0 0 1 ,0 5 7 ,0 0 0 1 .0 2 6 .0 0 0
5 7 .0 0 0
2 9 .0 0 0
4 5 .0 0 0
3 9 .0 0 0
1 8 .0 0 0
3 2 .0 0 0
6 9 .0 0 0
9 a,0 0 0
9 3 .0 0 0
5 8 .0 0 0
8 5 ,0 0 0
8 5 .0 0 0

The tone of the Liverpool market for spots and futures each
day of the week ending M iy 7 and the daiiv closing prices
i f spot cotton, have been as follows.
Spot.

Saturday Monday. Tuesday

Market, ( Moderate In buyers*
favor.
1:45 p. m .I demand.

S hipping N ews .—The exports of cotton from the United
States the past week, as per latest mail returns, hare reached
73.533 bales. So far us the Southern ports are concerned these Mld.crprdeare the same exports reported by telegraph and published in s a le s ...........
the Chronicle last Friday. With regard to New York we Spec. & exp.
include the manifests of all vessels cleared up to Thursday.
Ns"' York—To Liverpool, per steamers Cuflo. 1.925...Gcorgio,

Mon.

U vensyoi.aaktofi .d.
18t
181
181
lit
181
18t
Do
.........,,rf.
H a v r e ,.,___ . . . . . . .
30 *
301*
3 0 1*
30s*
3or
30i*
Do ................... c.
B rem en...............d. 25-2 7 > 25-274*1 25-27 V 25-27t*i 25-278)1 25-274*1
s<
Do
. . . . . . . . ,d. ,
Hamburg .......... </.
25»
251
2t*
251
251
251
Do
. . . . . .d.
. . . .
. . . .
. . . .
. . . .
. . . .
Aninterdaui........ c.
25i
25!
25<
251
251
25*
Beval, v. Hatul>..tf . “ 128
24IW
“ 12s
“ ra
JII!8
“ MS
Do v. H u ll.. . d.
381
3Sf
381
381
381
381
B arcelona...........rf.
..
. . . .
G e n o a ................. tl.
%
H
bs
>8
>8
hi
351
T rieste.................<t.
351
351
35!
35s
351
A ntw erp..............rf.
7*4
‘«4
"ru
7fl«
T«*
G hent,v.Antw ’p.d.
“si
®-4
*61
ei4
»sa
i Oeuta net pur t o o tbs.
' Amt 5 per cent.
L i v e r p o o l . — B y cable from Liverpool we have the following

Quiet.

Wed’dim Thursday. Friday.
Steadier.

Quiet.

Dull.

4M

47S2

47g.

4’ sh

4732

10,000
'500

8,000
500

10,000
500

8,000
500

7,000
500

Steady.

Steady.

Steady.

4M
8,000
500

F u tu r e .
M arket, i Steady at Quiet at Steady al
]Ut54@2-fl4 1-04 de­ l.64<a2-GJ
1:45 p.
cline.
advance.
decline.

To M
ar,ell. sttr, per steamer Bl'lus. 74 upland and 121 Sea
Market, 1 Steady.
Barely
Barely
Steady.
Quiet..
Quiet.
Island......... .........................................
.........
195
steady.
steady.
4 P. M. (
To Havre, par steamer La Gascogce, 577 upland and 89
Sea Island....
.......
......
..........................
6C
6
The prices of futures at Liverpool for each day are give n
to t r«-n n, trr rtrnm 9 Lidm, 30B... H. H. Meier. 2,037.. 2,343
,i
et
below. Prices are ou the basis of Uplands, Low Middling
ToBnmbii'g. per steamers Adrlr, 2,902__ Caprivi, 1.456
... Persia. 854..................- ..................... .......................... 5,213 clause, unless otherwise stated.

To A m aterdno, per steamer P. (Island, SOU .......
.........
506
To Antwerp, per steamers St. Cuiliiieit, 8 7 6 ... Southwark,
75 m
............................ ...................................... ................ 7,628
To Barcelona, per ttestner Pocarsoi. 3,450.............................. 3,4 59
To Gem a, per steamer POicaeset, 2 5 0 .................—
. .. .
250
S e w t ..> K i.e :» T o Liverpool, per .'earners Tatr tdcan, 5,291
..T e x a n ,3 ,H O . . Yucatan. 3.186................ i ..................... 11,570
T Havre, p*r meatrvr Dalian Prince, 7.000........................... 7,000
<>
O atvR svos i. Havre, per steamr r White Cross, 7.838.
7,838
H.m burg, per stearin ra Germania, 7 8 " ___Hispania. 928
1,708
Hava - saii • o st, Peter-burg, rur steamer City o f Belfast,
3."50 upland and 100 Sea Island. . . .
............................. 4,050
B «r «,w ;.jK To l.ivcrnoot, per steamer Guido, S .5 U ................. 3,511
No> o n - To If an. burg, per steamer eobraon. 1.065.............
1,065
Tn Rotterdam per »iearner Dura Forster. 250 ___
...
250
B oston i Liverpool, per steamers Armenian, 1,318 uoland
and 187 Sea Islan d....C an a da ,2 1 4 _ Cephalonia, 9 8 ___
_
Pat'amrrv, 24f>.
.......
............................ ....................
2,057
I f v.rrrni mb, per steamer Yarmouth 1 0 0 .............................
100
t o m e - r< Liverpool, per steamer Vudartore, 101 upland
>
and 589 8ea Ishuid ......... ................. . ............................. .
093
To Havre, fo r At-amet Sapphire, 5 0 0 .......................................
500
To Hr*men. per steamer* Bonn, 1 ,5 17
Dresden, 2,1 95___ 3,723
To Hamburg, per »!(j <rn*r Stratbnevis, 29 >.....
.........
299
Pim.AtjKi.fiii a - T o Liverpool, per steamer Penn land. 198........
198
h.KATn - I f Japan, pt-r steamer Tensbln Maru, 3,7 25...............
3,725
Total . . . . _

.......... ....................................................................... 73,593

Below wo add the clearance* this week of vessels carrying
.outtou from United States ports, bringing our data down to
<he latest dates:
8 iL v » A i.i* -T o Liverpool—May 5-B team er Darien, 6,938.
To Bremen—April 30—Steamer Roland 6,159
i i t * OfcLKxjt*- To L iverp ool—May 3 —Steamer Electrician, 5,101.
To »• Hast - M»v 5 —Steamer Oaten. 1.026.
To Havre—April 3 0 —Steamer Heuvnok, 7,033.
l o Hremrn—Mav 4 —ateam er Mllwauboe, 21,151.
To It* 1 bu r*—M »y 5 -M e liner Oswestry, 2,741.
To Hottflnla u —April 3 0 -S team er Alexandra, 200.
T o A ntw erp—April 3 0 —Steamer 0 » y o Kamarro, 1.850.
To C.v,pcnhagi.n —A]i I! 30 Steamer Atex imirii, 100.
T r G en oa-M a r 1—Steamer tstria, 2 ,9 12 ,
To Trteafn - K e y 1—Steamer fntria, 2,100.
t o te n ), a - M ay 1—Steamer tatrla. 1,300.
O t u u w t w - r o ffenoa -M ay 4 -S tea m er Sicilia. 4,878.
T ear Rural. To Liverpool - April 30 -Steamer Ed no Hall, 5,259.
W ofcrv.ijE -ro R uua rdaiu—May 5—steam er Whetatone, 1,381.
8 ,t ! "
To invert pal—
April 2 9 - ateamer Ottoman, 268 upland and
**.m & i -Steam er Cambroman, 50 Sea laiand,
y
T ' Hull—
tn
April 30—
r Lepam o. 4u0
T >T#ritoomh— .prl i 30— .earner Y irujontll. 138.
w
&
H
tu rn M
oftK lo Liverpool—a
-April 30—8*«»(nor tkboi, 556.
To■
tt »M«f 0 —S % rer MiioChen. 2,209.
te ftti
To’ If atoh ir*:
ibjer A rim ni 1, 101,
?m i4
T Liverpool -A p r il 3 0 -S team er Bsigeniand, 8.
t*
»4jr r
way i - 8 t « uuer Uity o f Peking, 150 .
it « a t N e w Y o r k t h e p a s t w e e k h a v e b e e n

M ay l to
May 7.

S a tu r.
1

1 2 is
P . M. P .M

d.
May-J u n e ..
Ju n e-J u ly..
J u ly .-A u g ..
A ng.-8e p t..
Sept.-O ot...
O ot.-N ov ...
N ov.-D ee...
D eo.-Jan ...
J a n .-F a b ...
Feb.-Vfeh...
Mch. April.

4
4
4
4
1
3
3
3
3
3

B

d

d.

12
11
10
10
06
63
56
54
52
52

4 12
411
4 U
4 ID
4 07
3 63
3 57
3 54
3 53
3 53

R

E

T oes.

M o n .

T liu r w .

W ed.

F r l.

4
4
4
1 :4 5
1 :4 5
4
4
1 :4 5
1 :4 5
1 :4 5
P .M . P .M . P. M. P .M . P .M . P .M . P .M . P .M . P . M. P .M ,

4
4
4
4
4
3
3
3
3
3
3

d.

10
09
08
08
04
61
55
52
50
50
51

4
4
t
4
1
3
3
3
3
3
3

A

D

10
09
08
07
04
60
54
52
50
50
50

d.
4
4
4
4
4
3
3
3
3
3
3

S

09
07
06
05
02
58
52
49
48
48
48

T

d.

d.

4 0 8 4 .0 9
4 07 4 08
to o 4 07
4 05 4 06
4 02 4 03
3 57 3 59
3 51 3 52
3 49 3 5 0
3 4 7 3 4H
3 4 7 3 4S
3 18 3 49

U

F

d.
4 10
4 08
4 07
4 06
4 03
3 59
3 53
3 50
3 48
3 48
3 49

F

S

d.
4
4
4
4
4
3
3
3
3
3
3

10
08
07
07
03
59
52
50
49
49
49

09
08
07
00
03
58
52
50
48
49
48

d.

d.

d.
4
4
4
4
4
3
3
3
3
3
3

1
4
4
4
4
3
3
3
3
3
3

09
08
07
06
03
58
53
50
49
49
49

4
4
4
4
4
4
3
3
3
3
3

08
07
06
05
02
37
51
49
48
48
48

.

F r i d a y , May 7, 1897.

There have been no new developments of an important or
interesting nature in the market for wheat flour. A. limited
amount of attention has been giveu to the market by buyers,
but as their bid* have been slow and mills have been fairly
well sold up as a result of the reesnt active trading, the
volume of business transacted has been small, as sellers have
held for steady prices. City mills have had a limited sale at
slightly lower values. Rye flour has been in moderate
request and prices have held about steady. The demand for
corn meal has been moderately active, and prices have been
without changes and steady.
There has been a moderately active speculation in the
market for wheat futures but the net changes are compara­
tively slight, Saturday there was a fractional improvement
in prices, but on Monday the market turned weaker, follow­
ing foreign advices, and Tuesday there was a further
shrinkage in values; the decline for the two days amounting
t o 2 9 2 )4'c.
The weakness came principally from abroad and
prompted liquidation by local holders.
Wednesday the
market turned stronger.
Foreign advices came firmer
and stimulated a demand from shorts to cover contracts,
on which prices advanced
Thursday the market was
fairly active and o n fo r e ig n advices,together with unfavorable
crop* news from the West, prices advanced
The
b u y in g was principally by shorts to cover contracts, although
there was a limited demand for inveslmeut account. To-

Ma

t

THE CHRONLCLE

3 , >897. |

day the market was weaker. Foreign advices were disappoint­
ing and the unfavorable mop advices have comparatively lit­
tle influence, prices closing at a decline of % @ lc. for the day.
In the spot market a moderate volume of ousin-si has been
transacted, although at the close the demand was quiet. No.
1 hard Duluth was quoted at 8 2 5 4 7 . f. n. b. afliac to arrive;
No. 1 northern Dulutn at 8 IJ4 C f. o. b. afloat to arrive; No. 1
.
Manitoba at 82%c. f. o. b. afloat to arrive and No. 2 hard
winter at 78J£c. f. o. b. afloat to arrive.

909

Sales of overcoatings have been light, without change in
prices, but there has been more doing in clothings at previous
prices. Dress goods are firm, but the current demand is mod­
erate. Sales of flannels are indifferent and blankets are in­
active ; but prices hold.
D o m e s t ic C o t t o n G o o d s —The e x p o r t s of c o c t o n g o o d s
fr o m
this port for the week ending May 3 were 2,612
packages, valued at $116,794, their destination oeing to the
points specified in the tables oelow;

D A IL Y o u O S I S O P B IC E S O F H O . 2 B E D W TH TBB W H B . r

*at.
79
77%
73%
753s

Tuen.
76%
75
71%
73%

Hon.
78 %
76*4
72%
74%

Wad
7758
75%
72*
74*

1897.

Tkurt
79
77*
743s
75%

N e w Y o r k to M a y 3.
78% j
76*
71%
Great B ritain....... .............. .
75
Jther E uropean................... .
The speculation in the market for Indian corn futures has J h in a ......................................
been dull and for the remote deliveries prices have declined India................. «............... .
Arabia......................................
54@1c. Early in the week the entire market was lower in A fr ic a ........... ........................
sympathy with the decline in wheat. Subsequently, how­ 'Vest Indies............................
ever. prices for this month’s delivery turned stronger and M exico............................... .
recovered the loss on buying by a few shorts to cover con­ Uentral A m erioa....................
^oath A m e r io a ....................
tracts, while tbe distant months made slight further declines. Otner Countries....... ............

May delivery....... ...........o*.
Ju ly d e liv e r y ............ ...e .
Septem ber delivery. ...c .
D ecem ber delivery.......c.

Bat.
M ay d elivery ...........aM.o. 29
Ju ly d elivery..................c. 30%
September delivery . . . . o , 32%

I f on.
29
30*
31%

Tuei.
28%
30
31%

Wed.
29
30%
31%

TKurt
29%
30*
31%

**\.
29%
30%
31%

Speculation in the market for oats for future delivery has
been quiet and the course of prices has been somewhat
irregular.
The prices for the near-by deliveries have
gradually advanced as there was some buying to cover con ­
tracts, but the distant months weakened earlv in the week
under moderate offerings although subsequently some of the
loss was recovered. The close was quiet but steady. In the
spot market a fair business has been transacted at steady
values. The sales to-lay included No. 2 mixed at 222£@33q.
in elevator and No. 2 white at 27c. in elevator.
DAILY OLOUHO PBIOBS OF HO. Z MIXED OATS
8at

-May delivery..................o.
Ju ly d e liv e r y .................o.

Mo n .

T iles.

W eft

T t i u r l.

fY i.

21%
22%

21%
22%

21%
22

22%
22%

22%
22%

22%
22%

W eek.

8 i n c e J a n , 1.

1,806
1,424
33,569
1,218
8,055
5,914
5,544
1,029
2,434
18,962
1,595

26
7
1,800

786
1,232
31,197
2,450
5,574
5.472
4.437
1.071
2,945
16,058
1,170

81,550
8,750

2,751

....

72,392
13,307

T otal..................................
90,300
'P r o m Vow England m ill p oints dlreot

To day the market was quiet and fractionally lower with the
wheat market. In the spot market only a moderate volume
o f business ba3 been transacted but values have held steady,
closing with sales of No. 2 mixed ;at 29^c. in elevator and
No. 3 mixed at 28@28}<fc. in elevator.
DAILY OLOSING PBIOBS OF HO. Z MIXED OOBH.

1896.

S in c e J a n . 1.

2,751

85.699

W eek.

5
44
504
225
150
187
171
26
1,235
95

Total..................................
China, via V an cou v er*,..

2,642

....

143
351
51
72
259
42

The value of the New York exports for the year to date has
been $3,33i%0\ in 1897 against $3,315,499 in 189rt.
Last week sellers of heavy-weight brown sheetings and
drills were very reserved over forward business, but this week
some bids have been accepted which were then declined. Spot
goods are willingly sold at current prices, but the demand is
moderate only. In coarse colored eottODS the only change
has been an incidental advance in plaids of }-£c. Denims,
ticks, checks and stripes and oheviots are as dull and as easily
bought as before. Bleached shirtings are quiet throughout,
and no further advances are prooable at the moment. Wide
sheetings sell slowly, and the current demand for cotton flan­
nels and blankets is moderate. Kid-finished cambrics steady
but dull. In prints, fancies are slow and unchanged. Black
and white and other mourning prints generally reduced J^c.
to l^c. per vard. Indigo blues, sbtriings, etc., dull and un­
changed. Ginghams inactive. Print cloths dull all week;
e x tr a s d e c lin e d to 2 7 -1 6 c. a n d o d d s e a sy .
1896.
May 2.
254.000
840.000
At-Fall R iver, odd sizes_ . 383,000
_
530.000

Rye and barley have been in fairly good export de­
1897.
Block o f Print 0 lot Kg—
May 1.
mand and Bteady.
A t P rovidence, 64 squares . 470,000
The following are closing quotations :
At Fall R iver, 64 squares.. . 206,000
FLODB

" l i n e ______ ____9 bbl. *2 1 5 0 2 85 t P atent, w inter........... #4 6 0 0 4 85
'iu p e r t ln e ...._______ 2 5 0 0 3 15 } City m ills e x tr a s___ 4 7 0 s 4 80
£ x t r a ,N o .2 ........ .. . 2 8 5 0 3 40 JBye flour, superfine.. 2 25® 2 75
E xtra, No. 1 . . . .......... 3 10® 3 75 Buokwheat flou r..................®
C le a r s .....................
3 4 5 0 4 10 Corn m eal—
•traleh ts.................... 4 1 0 0 4 20
Western &o............ 1 7 0 » 1 7 5
’Patent, sprin g.......... 4 1 0 0 4 35 I B randyw ine......... .
1 80
[W heat flour In sacks sells at prloes b elow those fo r barrels.
OBAIH.

36 ®
39 ®
44 ®
27*®
875.

42
42
46
31%

I m p o r ta tio n s a n d W a r e h o u s e W it h d r a w a ls o f D ry G o o d s .
H

0

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at

B

D R Y

G O O D S

T R A D E .

May 7, 1867.
The course of the cotton goods market during the past week
has been disappointing. The indications of improvement
noted in recent reports have disappeared and changes during
the week have been in favor of buyers These include de­
clines in prints and in print cloths. The latter have given way
to 2 7-16(3. for extras at Fall River, which is as low as anv
price previously recorded there. The market has suffered
from lack of adequate demand, buyers refusing to
operate with any greater freedom than before, and
from the retrograde movement in raw cotton since
Monday.
Business with jobbers has been fair, but
warm weather is needed to help forward the supplementary
demand for seasonable goods. Stocks of cotton goods in first
hands are full in the aggregate, but are generally reported
moderate with jobbers and retailers. There has been no new
feature of any moment in woolen goods, either in men’s-wear
fabrics or drees goods. The reporting of the tariff bill to the
Senate has not changed conditions in the domestic market,
but tbe elimination of tbe retroactive clause has been followed
by greater efforts on the part of importers to secure business.
W o o l e n G o o d s . —There has been no break this week in tbe
previous dulness ruling in this division of tbe market. There
is still but a limited attendance of buyers, and orders come
to hand through the mails somewhat slowly. Until the
clotbiDg trade has some indication of what the fall demand
for garments is likely to be this inactivity is likely to con­
tinue. There is considerable pressure upon sellers to make
deliveries of early purchases and the majority are kept fairly
well employed in meeting this. The tone of the general
market continues quite firm, and in most directions buyers
find a firmer market than they operated in early in the season'
N e w Y o r k , F r i d a y , P . M .,

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720.000

few days there has
been more doing in foreign merchandise, importers being less
reserved. It is. however, too late for them to expect much
business for fall in any line. Dress goods, silks, linens, rib­
bons and menV-wear woolens are all firm in tone.
a n n ia c t
W o o l....
C o t t o n ..

0
99 ®
29*®
:j o ®
30 ®

1894.
May 5.
222,000
394.000
104.000

209.000

T otal sto ck (p ie c e s ). . . . 1,059,000 1,624,000
F o r e ig n D r y G o o d s —During the pist

T o ta l.
n t’d fo r c

■Wheat—
Corn, p er bush—
0.
o.
Spring, p er ba sh .. 79 ® 85
West’ n m ix e d ..___
Red w inter No. 2 ..
Nominal.
No. 2 m ixed ..........
Red w in ter..........
80 ® 88
Western y e llo w ,.
Northern, No. 1 ... 81%® 81%
Western W hite___
R ye—
0 »te—M ixed, per bn. 21 ® 24
W hite...................... 24 ® 30
Western, per bush.
No. 2 m ixed .......... 22 %® 24
State and J e r se y ..
t o 2 whit©......... .. 27 ® 28
B arley—W estern___
F eeding....... .
F o r o t h e r t a b l e . u s u a lly g iv e n h e r e s e e p a g e

1895.
M ay 4.
180.000
6,000
73,000

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C H K O N K Lh.

C ity B t f aftment .

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i n g t o § (1 4 8 ,4 0 4 . s w e l l i n g t h e g r a n d
227.

In

th e

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to ta l

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th e p a g e o f th e C h r o n ic l e w h ere a fu ll a c c o u n t o f th e
TERM S

OF

S U B S C R IP T IO N .

s a l e is g i v e n .
A p r il b o n d s a l e s .

t>'''SRT'iBs’ S upplement will bo furnished without
>ry<-(• every lUHHiai subscriber of the Commercial
->

Page,
Lom tim i.
Mate,
721. Akron, O hio.......... ....... 5
tj-i-.i
, 2 1 .. Andover. M ass. . . . ....... 4
7 2 1 .. A rverne - by - th e - Sea,
a NSi piS.iSC l.4L CHRONICLEN. Y ................... .
7 2 1 .. A rveriie * by - the - Sea,
fii s t a t e vsi> C i t y S u p p l e m e n t w i l l a ls o b e fu r n is h e d
n . y , ................... ....... 5
tritiu m t t.i'Sni c h a rg e t o e v e r y s u b s c r ib e r o f t h e CHRONICLE.
| 7 6 7 ..A tlantic City, N, J ....... 143
7 2 1 .. Avoea. I o w a ........ . . . . . 5
X h. s t r e e t R a i l w a y S u p p l e m e n t w i l l li k e w i s e b e fu r -1 9 1 2 ..Benson. M in n ..... ___ _ 6
7 6 7 .. BostOH, Mass......... ....... 3 !a
» w ith o u t e x t r a c h a r g e t o e v e r y s u b s c r ib e r o f t h e 8 1 2 ..B ristol Co.. Mass. ___ 4
859.. B rock ton. M ass... . . . . . -1
C h r o n ic l e .
8 5 9 ..B rock ton , M a ss... ....... 4
7 6 7 ..B rooklyn. N. V ... . .. 3M)
T h e Q c o t a t io s i a r w t B D K I i issu e d m o n t h l y , w ill a ls o b e 912. Buffalo, X, Y
.......... 3is
fu r n is h e d w ith o u t e x t r a c h a r g e
e v e r y s u b s c r ib e r o f t h e 721.. Cambridge, M ass......... 3%
707.. Cincinnati (O.) School
C h r o n ic l e .
D istrict........................ *
1
800. ClarkjlelO. M inn.......... 0
T E ilM K fo r t h e C h r o n i c l e w it h t h e f o u r S u p p le m e n t s 721 . Cleveland, Ohio............ 4
a b o v e tu r n e d a r e T e n D o lla r s w i t h i n t h e U n it e d S ta te s a n d 707.. Cleveland, Ohio............ 4
812. Cleveland, Ohio............ 4
T w e lv e D o lla r s in E u r o p e , w h i c h i n b o t h c a s e s in c lu d e s 813. Crooksvillc. Ohio ....... 0
800. .Detroit, M id i............... 4
p o s ta g e .
_______
6
768.. Dougherty Co., Ga....... 0
722. . Eastport, Me................. 4
7G«. .Edgecom be Co., N. C-. ..
Terms of Advertising—(Per inch spa'd.)
813. .Elmira, X. Y ................. 5
4
813. Fatrliaven. Mass..
O n , tune ............................................. S3 SO |Three M onths (13 times) ..$25 00
7*22. .F all R iver. Mass.......... 4
One M.iuUi
it tim e*).. 11 00 Six months
(20 tim es).. 43 00 722. .Fail River, Mass.......... 4
T '..o Mouths
<K tim e*).. 18 00 |T w elve Months (52 times), o s 00 813. .Freport, N. Y ................ 5
The a no vo terms tor one month and upwards are for standing cards. 70S. Fremont. O h io.............. 5
722. .Fulton, S . V ................. 4
813. .Gaffney. S. O . . . ............ 6
800. .Galveston Co,, T e x ___ 5
34,
01.2. .Gardiner, M e .............. 7 X
M P X I ( I P A L
B 0 X I)
S APPS
I X
A P R IL .
80O. .Glens Falls. N. Y ........ 5
813. .Grand Forks (N. D.),
O u r r e c o r d o f t h e s a le s o f m u n ic ip a l s e c u r it ie s f o r j
Iud. School D istrict..
4
tin* m o n t h
A p r i l , w h i c h is g i v e n b e l o w , s h o w s th a t. \722. .rraiskeosaeTt. N. ,l........ 6
70s". .H arrison Co., O h io___
722.
6
t h e t o t a l a m o u n t m a r k e t e d w a s § 1 8 ,3 0 1 ,8 2 3 , n o t c o u n t - j
s
708. Hudson Co.. JT. .T......... 4
Hudson Co., N. J ......... 4
:
-.........
fir ttegotiateil. This is
4
800.
t o h e c o m p a r e d w i t h $ 1 ,5 2 1 ,8 5 0 f o r t h e c o r r e s p o n d i n g 708. .Jamaica. N .Y .............. 4
722 -Jam aica, N. Y ............... 4
m o n t h o f la s t y e a r a n d $ 1 2 ,4 8 8 ,8 0 9 f o r M a r c h o f t h e 7221.Jamaica. X. Y ............... 4
813. Jam aica. N .Y ................ 4
814. .Jam estown. X Y . . . . . . 4
p re se n t year.
814. .Jam estown. N. 1*......... 4
T in * n u m b e r o f m u n i c i p a l i t i e s i s s u i n g b o n d s h a s i n ­ 81-1. .Jam estown. X. Y ........ 0
074. .Jefferson Co., W. V a . .. 4
c r e a s e d d u r i n g t h e la st m o n t h a n d t h e d e m a n d f o r t h e 708. .Jersey City. X. J .......... 4Ua
709. .Johnstown, N. Y ........... 4
s e c u r it ie s a p p e a r s t o h e u n a b a te d .
I n f a c t , j u s t n o w MS0. .Karnes Co.. T e x ........... 6
72*2
5
m u n i c i p a l s e c u r i t i e s s e ll m o r e r d a d i l y t h a n a n y o t h e r 722, Lebanon. N. H .............. 4
800.
•
1%
c l a s s o f i n v e s t m e n t s . D e a l e r s d o n o t h a v e t o a n n o u n c e 675.
4
700
0
t h e i r p u r c h a s e s o f b o n d s i n o r d e r t o d i s p o s e o f t h e m . 723.
4%
4
.
I n v e s t o r s c o m e in a n d t a k e t h e b o n d s o f f t h e i r h a n d s 814.
914. .M arietta, O h io ............ 6
801. M iddletown, C onn....... 4
w it h o u t t h e a s k in g .
861. M ontana........................ 0
4
T h e c h i e f s a le s d u r i n g t h e m o n t h w e r e t h e $ 3 , 0 0 0 , - SCI.
4Lj
861.
f o u N e w Y o r k S t a t e 3 p e r c e n t 1 5 - y e a r c a n a l i m p r o v e ­ 811 .N ew tow n (N.Y.) Union
School District No. 1. 4
3
m e n t b o n d s a t 1 0 1 * 2 7 9 t o 1 0 2 , a n d t h e § 1 ,2 7 5 ,0 0 0 3 4 814..
814..
3
pi*r c e n t 5 - v e a r B o s t o n l o a n .
T h e r e w e r e t w o o t h e r 814..
3
3
81-1..
s a h - o f a m o u n t s o v e r § 5 0 0 ,0 0 0 , n a m e l y t h e § 6 2 0 ,0 0 0 815- Niagara Falls. N. Y ..
4
815. North D akota.......... .
4
o f N e w t o w n . X . Y . , 4 4 s a t 1 1 1 , a n d t h e $ 5 8 8 ,0 0 0 o f 915. Orange. N. J ................
4 l-i
4<3
723..
L o u i s v i l l e , K y . , 4 s a t 1 0 0 * 7 7 ; a n d t w e l v e s a le s o f
4
.r a m
c u i . . . . ............
769 .Passaic, N. J ................. 5
a m o u n t s b e t w e e n § 2 0 0 ,0 0 0 a n d § 5 0 0 ,0 0 0 .
T h e s a le o f 709
5
4
L o u i s v i l l e , K y . , b o n d s h a s j u s t b e e n d e c l a r e d i l l e g a l , 801. .P eabody. Mass..............
861.
Colfax
a n d i f t h e u p p e r c o u r t s u p h o l d t h e d e c i s i o n t h e s e e u r - 723. .P ittsbu rg(P a.i,istrict..
Silh-Soliool D
4%
769. . Pleasant R idge, O h io.. 6
f.-~ w i l l h a v e t o b e r e - s o l d .
.815. ..Polk Co., Iow a .............. 6
A ru sh er
f e a t u r e o f t h e s a le s d u r i n g t h e 769- .P oitsm on th , Va.......... . 5
810. .Quincy, M ass............... 4
*
pa
a m o u n t o f i m p r o v e m e n t b o n d s 709. .Rending, Pa................... 4
700. .R od Lake Co,, Minn .. 6
ii: i r k - t i d b y t h e v a r i o u s m u n i c i p a l i t i e s t o h e i n c l u d e d 770. .Richm ond Co., N. Y .... 4
3
0 5.
t h e i <r e n t e r
Y ork .
J a m a ic a ,
a n d 721. .Saginaw, M ich.............. 4
-0 2 . .Santa Barham , C a l.. . . ft
C o u n ty are th e
c o n s p i c u o u s in t h i s 816.
4%
725. .Sharon, Mass............
4
<4a-**, t h e s e t l i r e * l o c a l i t i e s s e l l i n g o v e r § 1 , 5 0 0 , 0 0 0 o f 725.
6
862. .Springville. N. 5*.......... 4
W e p u b l i s h f u r t h e r o n i n t h i s d e p a r t m e n t a 770. Teeuniscli. O- T
7
803. .Tonnwanda (N. Y .) Uu.
ta b ic s h o w in g th e
b o n d s th a t N e w Y o r k C ity
Free Sell. Diat. No. 3. 4
4
817.
s u r r o u n d in g te r r ito r y
b e e n a u t h o r i z e d 725, .W alllugl'ord
(Conn.)
Central School Dint.. 4
to
by th e
ju s t a d jo u r n e d .
4%
863
725 ..W est Don M oines (la.)
T h i s w ill p r o v e o f i n t e r e s t a t t h e p r e s e n t j u n c t u r e .
School D istrict......... 4fa
In t h e f o l l o w i n g ta b le , w e g i v e t h e p r i c e s w h i c h w e r e '817 .W ood County, Ohio___ 5
4
863
4%
p a id f o r A p r i l l o a n s
in t h e a m o u n t o f § 1 1 ,8 0 3 .3 8 5 771

T

to

of

iti

noticeable
si m
onth w the
as

in
R
ichm
ond

N
ew

New
town

m
ost

V d
xm -.

M aturity,
1898-1910
1868-1913
1 9 15-1 9lb
1920-1927
M ay 1, 1927
1902-1917
Apr. i , 1902
Apr. 22, 1901
M ay 3, 1927
1898-1927
Jan. 1 . 1937
1917
A pr. 1. 1917

f -if d

b.v * 8

hv,
ae
Legislature w
hich has

m u n ic ip a litie s .

T h e a g g re g a te

l o r w h i c h o<> p r i c e h a * b e e n r e p o r t e d
th e

to ta l b o n d o l e -

fo r

th e

m on th

o f s a le s

is § 4 3 8 ,4 3 8 a n d
§ 1 2 ,3 0 1 .8 2 3 .

In

a d d i t i o n w<* g i v e a l i s t o f t h e t e m p o r a r y l o a n s , a m o u n t ­

*5,000
40,000
35,066
11,500
5.500
1,275,000
*100,000
25,000
30,000
70,000
6, 111
200,000

1900-1910
1898-1917
1917
1927
1919
1900- 904
1917
1917
1907-1917
1899-1906
1917
1898-1907
190-1-1927
1927
1902
1898-1927
1917-1936
Apr. 1. 1917
Apr. 1. 1917
1927
1917
1907
1902
1907-1930
May 1, 1927
1898-1926
1902-1937
1907
1900-1906
18s0
Apr. 1. 1937
1899-1917
1927
1898 1899
1897-1907
Ju ly 1. 1922
1917-1927
May 1, 1927
Jan. 1 ,1 9 3 5
1901-1927
Jan. 1, 1912
Jan. 1, 1912
Jan. 1 ,1 9 1 2
Jon. 1. 1912
1917
M ay 1, 1927
1897-1899
1907
1898-1937
1898-1911
1498-1910
1898-1917
1898-1907
1898-1901
1907
1898-1927
1902-1922
.907
June 1 ,1 9 2 2
1002-180.7
A pr. 1 5 ,1 9 0 7
1922-3 927
1917-1920
I t 08 1902
1927
Slay 1 ,1 9 1 2

75.000
3,000
100,000
45.000
200,000
0.000
50,000
16,000
20.000
16,000
49.500
75.000
70,000
50,000
2.500
8,000
17,500
12.000
200,000
13,000
24,000

J 05-211
10133%
106*123
103*33
107-48
109*10
110*79
100-0125105 035
103*5656
104*48
103*9159*
) 08*786
111 *473
107*54
02*625
104*142
100
102
100
100 588
100*16
00
104*31
' 11*125
li>2*63
100*146
105*10
05*75
05*75
304*335
106*19
106*500
303*15
102*87
100
3 07*53
103*87
101*5394
100
101*777
100
106*77
107*75
100 39
100*29
100*60
107*50
100*025
109*17
111

21,000
29,500
588,000
4,000
425,000
25,000
31,802
215,000
100,000
100,000
620,000
53,000
6, 00
300,000
6.000
2 ,688,000
9.000
112,000
’ 150,000
65,000
40,000
35,000
15,300
52,000
29,000

10310
102
101*75
101*50
101*279
105 18
101*1856
100
100
100
100*06
' 02*6274
102*679
106*55

30,000 103*75
2,640 105*50
*50,000 100
10,000 102*50
30,000 105*327
100,000
05*375
10,000 103*18
202,000 109*38
13,000 100
30,000 102*22%
50,000 102*09
120,000 1 1 2 0 1
10,000 106*59
3,131 102*924
28,000 100
8,000 100

1898-1903

50.000
27,395

100*961
100*67

1927
1899-1908

40,000
50,000

104*96
102*206

1902-1907
1898-1904
’ M ay 1. 1927
1907-1927

100,000 100*80
7,000 103*2142380,000 105*17
10,500 102*875

Total (8 8 m unicipalities)..................................SI t ,863,383
Aggregate o f sales for w hich no price has
te en 'rep orted ................................ .".................
138,438
Tntai bond sales for A p ril, 1897................. M 2,301,823
•Notes.

105*375
108*125
103*5714
100
103*668
100*32
101*53
108*25
104-750
100
100
102*297

25.000
2.400
1 0 ,0-.'0
12,000
200,000
127,000
150,000
200,000
50,000
3 00,000
450,000
50,000
4,000
26 000
80,000
450,000
; 7,000
6,500

1 9 0 6 - 1930
M ay 1. 1912
A pr. i, 1017
Oct. 1, 1906
Oct. 1, 1921
19 071917
1927
1899-1908
1908-1917

am
ount of

and tin
f ‘m
e

A mount. A w ard,
$11,600 100
5,000 100*01

THE CHRONICLE

Ma t 8, lo97, |
T e m p o r a r y Lo an s.

911
QUEENS COU NTY.

P ag e.
Location.
8 6 0 .. Clermont, N. I I .................................................
7 2 2 .. D etroit. M ich................................................
7 6 8 .. Gloucester, M ass.........................................
7 6 8 .. Glouces er. Mass..............................................
8 1 4 .. M amaroneck, N. Y ......................................
7 6 9 .. New Bedford, Mass.....................................
7 2 4 .. Portland. Me........................................
7 7 0 .. Beattie, W ash................................................
862. South H adley Falls, M ass.............................
8 6 3 .. W aterville, M e..............................................
8 6 3 .. W est Springfield. Mass...............................

Amount.
$17,000
60,000
25,000
25,000
3,000
250,000
200,000
12,404
20,000
4.000
30,000

T o ta l...............................................................

$646,404

A uthorizing the expenditure by the trustees o f Jamaica
for m acadamizing and im proving certain public streets
in that village o f .........................................................................
Authorizing the village o f F lushing to borrow in anticipa­
tion o f arrears o f taxes, n ot to exceed ..................................
To authorize Long Island City to p rovide additional school
accom m odation s.........................................................................
A uthorizing the com pletion o f im provem ents on portions
o f Grand A venue and M ain Street, L ong Island C ity.......
T ota l............................................................................ ..............

Grand total o f sales for A p ril...................$12,948,227

In the C hronicle of April 10, 1897, page 720, a
list of March bond sales amounting to $12,284,309
will be found. Since the publication of that state­
ment we have received the following reports.
A d d it io n a l M ar ch B o n d Sa l e s.

Paae.
7 6 8 ..
9 1 4 ..

Ra*t.
Location.
Dayton, Wash..
............ 6
............ 6
M onett, M o..................

Maturity.
1898-1900
1902-1917

Am ount. Award.
$5,000 1004,500 100-

.. . $9,500
T ota l......................
Additional sales for which no price was re.... 195,000
p orted .......... .
Total additional sales for M arch......................... $204,500

These additional loans will make the total sales,
not including temporary loans, as reported for March,
1897, amount to $12,488,809.
New York City.— The Greater Neu> York Charter Signed by
the Governor.—On May 5, 1897, Governor Black signed the
Greater New York Charter, thereby uniting into one munici­
pality New York City, Brooklyn, Long Island City, Richmond
County and surrounding teiritory. The exact area to be
annexed to the present boundaries of the city is defined by
the charter as follows: ‘ ‘ The county of Kings, the ccunty
o f Richmond, the city of Long Island City, the towrs
o f NewtowD, Flushing and Jamaica, and that part of the
town of Hempstead in the ccunty of Queens, which is westerly
of a straight line drawn from the southeasterly point of the
town of Flushing, through the middle of the channel between
Roekaway beach and Shelter Island in the county of Queens,
to the Atlantic ocean and the present city of New York.”
The charter is to go into effect January 1, 1898.
Bonds Authorized for Greater New York.—The “ Brooklyn
Eagle” on April 29 published a statement showing the
amount of bonds the municipalities included within the
boundaries of the Greater New York have been authorized to
issue by the State L- gislature recently adjourned. The state­
m e n t is as f o l l o w s :
NEW YORK.

F or a garden at Van Cortlandt Parte.......................................
$50,000
To establish a zoological garden at B ronx P ark...................
125,000
F or the repair ot streets and avenues.......................................
2,000,000
Providing for a public library in Bryant Park ....................
2,500,000
F or an addition to the A m erican Museum o f Natural H is­
tory buildings and its equipm ent........................... ..............
500,000
F or a new Tom bs prison..............................................................
500,000
P roviding for general park im provem ents.............................
25",000
Providing for four new High Schools.......................................
2,500,000
For additional pumping stations and water m ains..............
500,000
For the erection o f new com m on schools and their euuip.. 10,000,000
Providing for a drawbridge at Third A ve., over the Harlem
500,000
Jerom e Avenue Im provem ents...................................................
200,000
For a bridge over the Bronx, between W il’ iam sbildge and
W oodlawn stations.....................................................................
150,000
Providing for a bridge over the B ronx at East One Hun­
dred and Seventy-seventh S treet..........................................
75,000
For the im provement o f the Spuyten Duyvil P arkw ay.......
150.000
Providing for a new District Court H ouse..............................
50,000
For the com pletion o f Riverside Drive and P ark..................
400,000
For a temporary bridge over the Bronx at W estchester
Avenue...........................................................................................
35,000
Providing for a viaduct over the railroad at Melrose
Avenue and One Hundred and Sixty-third Street..............
300,000
For a bridge over the Harlem SB . tracks at One Hundred
and Fifty-third Street................................................................
150,000
For the im provement o f C rotona Park......................................
30,000
For an increaee In the appropriation for the site for the
City College.................................................................................
200,000
T otal............................................................................................$21,105,000
KINGS COUNTY".

For the im provement o f W allabout m arket property..........
For enlarging and im proving the Forty-seventh Regiment
A r m o r y .........................................................................
Appropriating for school purposes............................................
For an arm ory for T roop C .........................................................
For im proving Helmont Avenue................................................
Providing for the repaving o f A lbany A v e n u e ........ .............
Appropriating for a bronze statuo o f General F ow ler........
F or collection and preservation o f Brooklyn lilstorlcal
record s...........................................................................................
For school purposes in the Borough o f B rooklyn .................
For beginning work on the proposed public library build
in g ..........
A uthorizing the construction o f a public pier in the Eightli
W ard..............................................................................................
F or im provements in district bounded by Coney Island
Avenue, Franklin Avenue, Bergen Lane and Foster
A v en u e..........................................................................................
For two new high school buildings............................................

$70,000
250,000
500,000
350,000
90,000
37,000
7,000
30.000
2 500,000
10,000
60,000

$200,000
35,000
500,000
45,000
$780,000

New Jersey.—Act Authorizing the Issue of County Bonds.—
The New Jersey State Legislature at its recent session passed
an Act, which was approved by the Governor April 16, 1897,
allowing counties to issue bonds for the construction of court­
houses. The following is the full text of the A c t :
1. Whenever the board of chosen freeholders of any county
in this State shall determine, by a vote of not less than twothirds of all the members of such board, to erect, enlarge or
re-build a county court-house and buildings for the accom­
modation of courts and county officers and the various det artments of the county government, it shall be lawful for
sn oh hoard of chosen freeholders to issue and sell the bonds
of such county corporation, and to use the proceeds for the
urpose of paying the cost of such new or enlarged build­
ings, and of furnishing the same ; such bond shall bear inter­
est at a rate not exceeding four per centum per annum, pay­
able semi-annually, with such provisions as to registration
and payment of interest or coupons as may be found exped­
ient ; shall be payable at a time not exceeding forty years
from their date; shall be for an aggregate amount not exceed­
ing two-tenths of one per centum of the total assessed value
of real and personal property in such county, and shall not
be sold at either public or private sale for less than par.
2. It shall be the duty of such board of chosen freeholders
to establish a sinking fund, to be raised by taxation from year
to year, sufficient to pay off and discharge such bonds at their
ma'uriiy ; and also to include in the annual county tax levy a
sufficient sum to pay the interest on such bonds from year to
year.
3. This act shall take effect immediately.
Philadelphia, Pa.— City's Borrowing Capacity.—Judge Bid
die last Saturday handed down a decision sustaining the
right o f the city o f Philadelphia to create two loans of
§8,000,001) and §3,000,000 to provide for certain public im ­
provements. The right to issue the bonds had been called in
question by David Pepper and others, who as taxpayers
filed a bill in equity to restrain the city from issu­
ing the bonds. They based their contention on Sec­
tion 8, Article IX o f the Constitution of 1874, which reads as
follows: “ The debt of any city, county, borough, township,
school district or other municipality or incorporated district
except as herein provided, shall never exceed 7 per centum
upon the assessed value of the taxable property therein, nor
shall any such municipality or district incur any new debt
or increase its indebtedness to any amount exceeding 2 per
centum upon such assessed valuation o f property without
the assent o f the electors thereof at a public election in
such manner as shall be provided by law; but any city the
debt of which exceeds 7 per centum of such assessed valua­
tion may be authorized by law to increase the same 3 per
centum in the aggregate at any one time upon such valua­
tion.”
The claim o f the plaintiffs was that under this Constitu­
tional provisional the city cannot issue bonds in excess o f 2
per cent upon the assessed value o f the taxable property
unless a vote of the electors is obtained.
Judge Biddle, in rendering bis decision, presented the fol­
lowing facts:
“ Tlie assessed value of the taxable property o f the said c ity on Jan.
1, 1874, was $548,243,535: 7 per cent of the said valuation, $38,377,047 45.
Total debt January 1, 1874...................................................$59,338,816 97
City securities in sinking fu n d .............................................. 15,773,614 80
Net debt January 1, 1 8 7 1 ......... ........................... ....$ 4 3 ,5 6 5 ,1 7 2 17
“ Hie debt o f tbo city at the time o f the adoption of the Constitution
was therefore in excess of 7 per centum of the assessed value o f the
taxable properly.
“ The assessed value of taxable property January 1.1 897 , was $818,827,549; 7 per oentum of that assessment, *57,317,928 43.
Total debt January 1, 1837.................................................$54,023,120 22
Securities in sinking fund................. .................................. 19,575,350 00
Cash, revenue and solvent debts applicable to the pay­
ment ot the said debt..........................................................

$34,447,770 22
3,111,095 78

Net debt January 1,1897.. ............................................ $31,336,674 44

“ The question before the Constitutional Gouvention when
it came to the consideration of the section regulating the
debts of the cities was simply this: A great many cities of
T ota l........................................................................................... $4,310,000 the State bad a debt fat btlotv the limit of indebtedness which
200,000
200,000

THE CHRONICLE.

912

pr* v
i. »nd o f c o u r s e th e r e m m d o d iffic u lt y in s a y it w tl it ' . ■ ..<!• r tin ir d e b t - s h o u ld n o t b e in c r e a se d b e y o n d
7 ,
■n itat o f th e ta x a b le p ro p e r ty th e r e in . T h is lim it ,
> v. , i, t« «■!!-.
,
in o n stra te d , w a s t o o l o w a lim it to b o ap* p . 'i h . t-H vcif P h ila d e lp h ia , f o r a t th a t v e r y tim e its
• , u -c d- d T ")> r o -n iitu )
.
•
O f c o u r s e it W ig h t h a v e b e e n
i t>in! P m lN iie ip b it'e d e b t s h o u ld tie d e c r e a s e d to
, -i ,i.i lim it as e a r ly i>s p r a c t ic a b le o r th a t n o in c r e a s e
,u ,
. ; ■ a : tilt- u n til th at w a s e ff e c t e d . T h is, h o w e v e r , w a s
t , ; i nr. O a th e c o n t r a r y , t h e C o n v e n t io n r e c o g n iz e d th e
i ; i
• i - o f u p w a r d s o f $-18,000,000, a n d s o fa r f r o m r e i u n t g, th a t it sh o u ld b e d im in is h e d , g a v e e x p r e s s a u t h o r it y
m a t u sh o u ld b e in c r e a s e d to th e e x t e n t o f 8 p e r c e n t u m .
T h e r e fo r e it w a s b e y o n d p e r n d v e m u r ■ th at th e lim it fix e d
fo r th e c i t y a t th a t t im e w as $48,000,000 a n d u p w a r d s ,
w ith p o w e r t o in cre a se . N o w , w h e n o r w h e re s in c e th a t d a te
ban a n y th in g b e e n d o n e t o s h o w th a t th a t lim it is n o t as p e r f . v t l j leg al an d p r o p e r n o w a s it w a s t o o n ? I t h a s b e e n s u g ges'e’d that it is tru e t i n t th e c i t y , u p to th e 1st o f J a n u a r y ,
181*7. so fa r fr o m in c r e a s in g , h a s r e d u c e d its d e b t to a b o u t
$3t,t Ow.OuO. an d it is t h e r e fo r e a r g u e d th a t '.it c a n n e v e r b e in cn-iiM-d to the lim it a u th o r iz e d b y th e C o n s titu tio n . S o th a t
if th e m u n ic ip a lity , w h e n t h e ra te o f m o n e y w a s h ig h ,
fo u n d it
I v a n ta g im is f o r th e t im e to r e d u c e its in d e b t e d m s - . it c o u ld n o t, w h e n th e t a te o f m o n e y w a s o n e -h a lf
the f> ritM-r ra te , b o r r o w a g a in a t th a t m o r e a d v a n t a ­
ge, us n t e . S u r e ly i f a life te n a n t w « r e a u th o r iz e d to
e n c u m b e r h is ra ta te to th e a m o u n t o f $50,000 a n d fo u n d
that hr c o u ld p a y o f f $ 10,000, f o r w h ic h h e w a s p a v in g
6 per c e n t, an d re -b i-rr o w it f o r 3 p e r c e n t , h o w c o u l d i t b e
contend*:d th at th a t w a s a v io la t io n o f la w , a n d h a v in g o n c e
t« m p r « r iiy re d u ce d th e a m o u n t h e w a s a u t h o r iz e d to b o r ­
r o w . h e c o u ld n e v e r a g a in g • b a c k to h is o r ig in a l a u th o r it y
w h ic h a u t h o r iz e ! h im to ra ise $5 0 ,0 0 0 ? I : s e e m s to us th a t
th e c it y ’ - in d e b te d n e ss, s o fa r as th is c a se is c o n c e r n e d , c a n ­
s'-ct Sc lo w e r i b an $13,565,172 17, a n d as lo n g a s th e c it y k eep s
w ith in th a t lim it it is c le a r ly w ith in its r ig h ts . I t , th e r e fo r e ,
has thi- r ig h t vo in c r e a s e its p re s e n t in d e b te d n e s s as c o n t e m ­
p t ) P d by th e t w o o r d in a n c e s u e d e r c o n s id e r a t io n w it h o u t
su b m ittin g th e q u e s tio n to a p o p u la r v o t
An

ap p ea l w ill b e t a k e n

to th e

S u p r e m e C o u r t, a n d an

o f p lica tio n m a d e f o r tan e a r ly h e a r in g , s o as to d e cid e d e fin ite ly
th e qut su'on o f th e c i t y ’s b o r r o w i n g c a p a c i t y .

B ond

P r o p o s a ls

and

C f i v . t h r o u g h th e w e e k th e

’N e g o t i a t i o n s . —W e h a v e n f o l l o w i n g n o t ic e s o f

bonds re ­

c e n tly n e g o tia te d a n d b o n d s o ffe r e d a n d t o b e o ffe r e d fo r sale,
A la b a m a .— C on-liU '>n o f T r e a s u r y — F r o m th e r e p o r t o f
S tate A e d it o r W h ite to th e G o v e r n o r o f t h e c o n d it io n o f th e
S ta te tre a su ry o n D e c e m b e r 3 ! , 1896, w e n o te th e fo l l o w in g
fig u res. T h e cash o n h a n d O i l . 1, 1890, w a s $ 5 8 ,2 1 9 ; r e eeivt d t>i D ec. 31, $550,816 ; total c a s h , $009,185. A s a g a in st
this « » . find d i-tiu rsin e n ts o f $583,593, le a v in g a c a s h b a la n ce
in the trea su ry o n J a n u a r y 1, 1897, o f $25,578. O a O o t. 1,
1896, th e « arrant# o u ts ta n d in g a m o u n te d t o $3,972 an d u p to
it. , in $685,9u9 a d d itio n a l w a r r a n ts w e r e issu e d , m a k in g a
total fo r she y e a r o f $094 881, O f th is a m o u n t th e T re a su re r
re d e e m e d $533 593, l a v in g a b a la n c e o f o u ts ta n d in g w a r n u iis o n J a n u a ry 1, 1897, o f $111,389. T h e to ta l lia b ilitie s , in d o itt g tot* o u ts ta n d in g w a r r a n ts o n J a n u a r y ’ s, w e r e $047,054,
w M tdi, a fte r d e d u c t in g tin- c a s h b a la n c e o f $25,573, le a v e s an
v x c e w o f lia b ilitie s o f $821,480.
A lb a n y , , , Y . — H ands A u t h o r iz e d .— A n o r d in a n c e a u th o rn
:*
1:!'('■ i h i - c j ’y o f A ib u n y to issue b o n d s t o a n a m o u n t n o t e x c e t d m g $5(>n,t:i.iij to pay the c o s t o f a w a te r filt r a tio n p la n t

ha# been passed by the Legi-lature.

I r e i,it- C orn s!v, ' l i e n . — B o w l O f f e r i n g — P ro p o sa ls w ill b e
r»r» iv. < un til i o 'c l o c k v. it. J u n e 1, 1397, b y E rn e st O. B u t|
1 r, * * u n ty C h r 1 f* r th e p u r ch a s e o f $7,(;0 ) o f 6 p e r c e n t r e ­
*
:,
fu n d in g h e r d * .
T he s e c u r i i i 's w ill m a tu r e a t th e r a t e o f
P*r annum from M arch \, 1898 to 1904, i n c l u s i v e ;
lo t h r tit r ip s ! »r.rl interest w ill b e p a y a b le a t th e S e c o n d
h e t in c a l B a n k o f B a y C ity , M ich ig a n .

Aihcii-, Ohio — //»,«./ O ffe r in g .— P ro p o s a ls will be received
unid M..; 2;>, iH*7. by the city of Athens for the purchase of
,v.,f i n (,| p. r cent city bull improvement bonds,
l.» j

tit),

M ich — B o w ls P r o p o s e d .— R o a d im p r o v e m e n t
‘ ’tty it* u n d e r conHiUera lio n ; t h e y w ill p ro b a b ly

i b i ) S t. L o u ts , M|«s. - B o w l E le c tio n .— It is r e p o r te d th at
t )< ■ <> r> w i j b e hi id tti B ay St. L o u is to v o te on is s u in g
*
’
t f r e , ',
ii
k i in iiies, if ii u h o r i z e d , w ill bea r 8
pi r < r>t inter, ft si 4 tb e p r e o t d# w ill ho u sed f o r th e c o n ?i
»'»<!> tti r>... w a te r w i t ;:, an d o n e le c tr ic -lig h t p la n t.
§ i l l f t e o n . J fim i. - B o w l S afe.—O n A p ril 27, 1887, the $6,500
t < . - t U K « u p r -w r r lis l < n d » o f th e village o f B e n so n
w , i f . * B td. f to tin- « tom n l.h p< sit Bank o f W in o n a , M in n .,
u t »-%(«.i fit), rim o th e r bid s r e ce iv e d w e r e :

. i i*(t a soa, at. F«ui, Mica.
« o f B fM M . Benson. M ten............

v iiM in
i.t,,
ik".Y. ’ .......
a r e ,, i
Ht.fi, n. n. n,on«Mian__...
Kr*t>, 1'IISMC, tti...... .................
east Farm B*rk, Onatenaa, Jtlnn
er*
©*m
Jt*»i

>.,

f t It. O . H i.e,, < :« « .* » . 111...................
W. j H »|r, S Pm *, l ievelatHl, Ohio,.
r
r a fn ltn * * co.,O r*nrt fork *, if, I )....... ]
< i,»; I*® hfefter, Knrefta, 8 . D (for » part).,.

$5,675 00
, 5,625 00
. 5,010 00
5,801 00
5,592 00
. 5,880 00
5,558 50
. 5,880 00
. 8,5 131 5
5,537 00
5,527 00
3,850 00

[V

ol

. LX JV ,

T h e s e c u r itie s w ill m a tu r e as f o l l o w s : $4.M0t) a t th e r a te o f
31,000
p e r a n n u m Trom J u ly 1, 1904 to 1907, in c lu s iv e an d
| $1,500 o n J u ly 1, 1908.
!
B e r k le y , V n . — B o n d s A u t h o r i z e d — T h e F in a n c e C om m ifc> t e e o f B e r k le y lias o r d e r e d a n issu e o f $25,000 o f it n o r o v e m o n t b o n d s , as th e $35,000 o f b o n d s r - c e n t iv issu ed w a r s n o t
s u ffic ie n t to c o v e r th e c o s t o f th e w o r k .
B e v e r l y . M ass — T e m p o r a r y L o a n .— T h e t o w n o f B - v e r l y
h a s a w a r d e d a t e m p o r a r y loa n o f $50,000 t o B 'o d g e t , M erritt
& C o ., o f B o s to n , M ass,, a t a d is c o u n t o f 3 ’08 p e r c e n t . D ie
o t h e r b id s r e c e iv e d w e r e :
Blake Bros. & Oo.r Boston, M a ss. . . .
Bond & Goodwin, Boston, Mass . . . .
Oh as, Weil < Oo., Boston, Mass ____
%
E X . R ollins A; 8 ms, Boston, Mass
T
R. L, Day & Co., Boston, Muss . . . . . .

Rale o f
DlSCtuit f Premium.
$1*00
1*00

.........
3-375
T h e lo a n w i s issu ed in a n t ic ip a t n n o f r,he o l l r c t i m o f
ta x e s a n d w i l l b e c o m e d u e N o v e m b e r 15, 1897.

Binghamton. N.
Bond Election— A p r o p o s it io n to
issu e $85,000 o f b o n d s f o r th e c o n s t r u c t io n o f b r id g e s w ilt ba
p u ; to a v o t e o f th e c it iz e n s o f B in g h a m o n o n M a y 18, 1897.
Brockton. M ass,— Bond News.—I t is r e p o r t e d th a t t i n $37 000 o f v a t w b o n d s a n d $30,000 o f se w e r b o n d s a w a r d e d o n
A p r il 28 to S. A , K e a u o f C h ic a g o h a v e n o t b -eri ta k e n b y
h im , a n d t f i e b m is h a v e b e e n a w a r d e d to A d r m s & C o o f
B o sto n , M ass., o n th eir b id s o f 107‘67 f o r th e w a te r o o n d s a n d
104 59 f o r th e s e w e r b a n d s. B o th issu es b ea r in t e r e s 1 a t 4 p. c.
:
Buffalo, N. Y.— Bond Sale.— T h e c i t y o f B u ffa lo h as a w a r d e d
a $6,1 U 04 3b£ p e r c e n t t w e n t y -y e a r g r a d e e r a s i n g b i n d to
th e C o m p t r o lle r at p a r, in tru st f o r th e B i i L y A v e n u e s i w e r
s in k in g fu n d . T n e b o n d is d a te d A p r il 15, 1897, a id t h e in ­
terest is p a y a b le s e m i-a n n u a lly .
Cameron. W. Yu .—Bond Issue.— T h is m u n ic ip a lit y p r o ­
p ose s to issu e im p r o v e m e n t b o n d s t o th e a m o u n t o f S3 0 ) 0.
C u tS h ilS , N . Y .— Bond Y ew s, — At a m e e tin g o f t h e t a x ­
p a y e rs o f th is v illa g e h e ld o n M ay 3, it w a s d e c id e d n o t to
issu e th e $30,(100 o f p a v in g b o n d s r e c e n t ly r e p o r t e d as h a v in g
b e e n a u th o riz e d .
C o l l e g e P o in t-, N. V .— Bond Election.— A t th e e le c tio n
h e ld in ib is v illa g e o n M a y 6 , a p r o p o s it io n to issu e b a n d s to
th e a m o u n t o f $59 000 fo r a n e w s c h o o l b u ild in g w a s c a r r ie d
b y a v o t e o f 4 1 L t o 84.
C r a n s t o n . R . I . — Bond Sale.— T h e t o w n o f C ra n sto n h a s
so ld $150,000 o f 4 p e r c e n t f o r t y - y e a r g o l d fu n d in g b o n d s to
N . W , H a rr is & C o ,, o f N e w Y o r k C ity , a t 134'835. T h e o t h e r
b id s l e c - i v . d w e r e :
Farson, Leacli & O
New Y ork , N. Y ........................................... 103-810
R, L. Day & Oo., Koston, Mass ............................................ ............ 108*349
JS H. R ollins & Bona, Boston, M ass........................... ........ ........... 103-279
Riohartisdn & Olark, ProYkinnee, R 1.......................................... 103-271
Oushman, Ftaher & Phelps, B oston, M ass.................................... 103-177
E. C. Stanwood & Co., Boston, M ass.............................................. 103-140
Rudolph K eybolte & Co., New Y ork, N. Y .................................. 103-137
Dietz. Denison & Prior, B oston, M a s s .......................................
102-930
Estabrook & Co. Boston, M ass........................... ............................ 10R 790
B e e r i n g , M.e.— Bonds Authorized.— B o n d s o f t h is c it y t o
th e a m o u n t o f $20,000 h a v e b een a u th o r iz e d , T h e s e c u r it ie s
w ill be o f th e d e n o m in a t io n o f $ 1,000 ; t h e y w ill b ea r in t e r e s t
a t th e ra te o f 3 % p e r c e n t a n d m a tu r e in t w e n t y y e a r s f r o m
d a te o f issu e,

lies Moines l a , — B o n d Sale.— 0 . i M a y 6 , 1897, th e $35,00 0
o f 4 p e r c e n t 1 9 -20 y e a r f u n d in g b o n d s w e r e a w a r d e d t o
R u d o lp h K t e y b o lte & C o . o f C in c in n a t i, O h io .
Dundee (N . Y .) Union Seliool Dist rict. — Bond News.— T h e
in te re st on th e $2,400 o f 6 p e r c e n t 2 y e a r s c h o o l n o te s , re ­
c e n t ly sold to G e o , P . L o r d a t p a r , is p a y a b le a t th e D u n d e e
S ta te B a n k .
Essex C o u n t y , N. 3.—Bond J s s u ? .— A s a u t h o r iz e d b y an
a c t r e c e n tly passed b y th e N e w J e r s e y S ta te L e g is la tu r e ,
g r a n t in g atitb i r it y to th e v-ariout c o u n t ie s to issu e b on d s fo r
th e c o n s t r u c t io n o f c o u r t h o u s e s , a n d g iv e n in fu ll e ls e w h e r e
in th is D e p a r tm e n t , E sse x C o u n ty w ill is s u e $370,000 o f b o n d s
f o r th a t p u r p o s e . A t a r e c e n t m e e t in g o f th e c o u n t y o ffic ia te
it w a s d e c id d to g o o n w ith th e p la n s f o r th e b u ild in g , b u t
th e s e le c tio n o f a s ite w a s la id o v e r t ill a la t e r m e e tin g .
F a r Rockawav. N. Y.— Bond Election.— A s p e c ia l e le c t io n
w ill b e h eld in F a r R j c k a v a y o n M a y 14, 1897, to v o t e o n a
p ro p o s itio n t o issu e b o n d s o r c e r t ific a t e s o f in d e b t e d n e s s to th e
a t n o u o t o f 835,000, T n e s s c u r tie s , if a u th o r iz e d , w ill b e issu e d
f o r th e p u r p w o f im p r o v in g t h e s tr e e ts o f th e v illa g e ,
T hey
w ill b e o f th e d en om ltm W p n o f $ 1,00 0; in te r e s t a t th e r a te o f 5
p e r c e n t w it! be p a y a b le s e m i a n n u a lly o n t h e first d a y s o f
J a n u a r y a n d J u ly , a n d th e p r in c ip a l w ill m a tu r e a t t h e r a t e
o f $ 1,000 o n J a n u a r y 1 o f e a c h y e a r a ft e r d a t e o f issu e, w it h
th e e x c e p t io n o f th e t w e n t y -fir s t y e a r , w h e n $1 5,00 0 w ilt b e ­
com e due.
G a r d in e r , Me.— Bond Sale.—T h is c i t y h a s s o ld $13,000 o f
"3% p e r c e n t f u n d in g a n d r e fu n d in g bornte a t p i r . I n t e r e s t on
th e s e c u r itie s is p a y a b le s e m i-a n n u a lly a t G ir d t n e r .
G e o r g e t o w n . K y .— Bonds Proposed.— B o n d s o f th is c i t y t o
th e a m o u n t o f $25,000 f o r th e c o n s t r u c t io n o f w a t e r -w o r k s a n d
g a s p la n t a r e u n d e r c o n s id e r a tio n ,
B i e n v i l l e V i l l a g e ( O h i o ) S c h o o l D i s t r i c t — Bond Offer­
in g .— P ro p o sa ls w ill be r e c e iv e d u n til 8 o ’ c l o c k p. m , M ay 23,
1897, b y th e B o a r d o f E d u c a t io n , f o r t h e p u r c h a s e o f $17,000
o f 5 p e r c e n t s c h o o l b o n d s . T h e b o n d s w ill be d i t e d J u n e 1,
1897; in t e r e s t w ill b e p a y a b le o n t h e first d a y s o f J u n e a n d

Ma y 8 1»97. i

THE CHKONICLE.

December in each year at the office of the Treasurer of the
District, and the principal will mature part yearly from 1898
to 1912. B'ds for less than par and accrued interest will not
be considered.
Gloucester, Mass.—Temporary Loan.—The city of Glouces­
ter has awarded a temporary loan of $50,000 to Curtis &
Motley, of Boston, Mass., at a discount of 3-04 per cent. The
other bids received were :
R of
ate
I>is ount. Prem.
Blake Bros. &Co., Boston, Mass................................ 3 05
Rogers. Newman &Toleman, Boston, Mass..... .........- 3*<5
$1 25
Edgerlv & CW
icfeer, Boston, Mass........ ....................... 3-16
D. W Howland, Boston. Mass..................................... 3-25
.
2 75
C. H. Wtil & Co., Boston, Mass........ ........................... 3-25
1 00
•Caoe Ann National Bank............................[ ^ ll’.O O 3-025
O
The loan was issued in anticipation of the cobection of
taxes and will mature $35,000 in six months and $25,000 in
seven months from date of issue.
Gloversville, N. T.—Bond Sale —The New York News
Bureau reports the sale to-day of $28,000 of 4 p 3r cent 25 year
bonds of the ci y of Gloversville to Isaac W. Sherrill of
Poughkeepsie at 107 and interest.
Grand .function, Col.—Bonds Authorized.—O i April 24,
1897, the City Council of Grand Junction passed an ordinance
authorizing and directing the issue of $65,000 of water-works
bonds. The securities are to be in the form of cou ion bonds
of the denomination of $100 each. They will be dated May 1,
1897, interest at the rate of 6 per cent will be payable semi­
annually on the first days of Mav and November, at 'he office
of the City Treasurer, or by Kountz Bros , New York, and
the principal will mature May 1, 1912, subject to oall after
May 1, 1907. The ordinance also makes provi-ii m for a sink
ing fund for the payment of the interest and principal of the
bon ds.
Grand Rapids, Mich.—Comptroller's Report.—The follow­
ing figures, relating to the finances of the city, are taken
from the annual report of Comptroller Caro, covering the
year from April 23, 1896, to Aoril 22, 1897. The bonded debt
of the city on Aoril 23. 1896, was $1,849,000, and on May 2,
1896, $75,000 additional bonds were issued; during the year
$222,000 of bonds were redeemed, making the bonded debt on
April 22, 1897, $1,702,000, a net reduction of $147,000. On
April 22, 1897, the cash on hand in the ditf rent funds
amounted to $367,469, and all other assets, consisting of city
property, amounted to $3,724,898.
Hamilton, Mass.—Bond Sale—The following bids were re­
ceived for the purchase of $20,000 of 4 per cent 1-20 year
town-house bonds and $11,500 of 4 percent 110 year school
bonds.
$jo,ooo T n house $/rjoo School
ow
Bonds.
Bonds.
E. U. Gay & Co., Boston, Mass........................ 103- *50
101*510
Estabrook & Co., Boston. Mass.............. .....102-030
101*231
R. L. Day &Co.. Boston. Mass ........... ........... 102 517
101-037
E. H Rollins & Sons. Boston, Mass.................... 102-130
101-170
Allen S Rogers, Salem, Mass................
t
10J-339
101-097
Blake Bros. 3t Co , Boston, Mass...................... 102-260
101-070
The securities were awarded to E. H. Gay & Co.
Hamilton, Ohio.— Bond Offering.—Proposals will be re­
ceived uuiil May 17, 1897. by the city of Hamilton for tne
purchase cf $ 16,000 of
per cent bonds.
Hardy Township, Ohio.—Bonds Defeated.—The Circuit
Court has affirmed the decision of the Common Pleas Court,
bolding that the special act of the State Legislature, author­
izing Hardy Township to issue $40,000 of public improvement
bonds, was illegal.
Hartford, Conn.—Bond Sale.—R. L, Day & Co., o f Boston,
have been awarded $270,000 of the town of Hartford 3)^ per
cent bonds at 103-219. This loan was issued to refund the $270,000 of 4% Ppr cent ten-twenty-five year bonds issued by the
town in 1880, wnich were called for payment on May 1, 1897.
Hartford (Conn.) Arsenal School District.— Bond Offer­
ing.—This district proposes to issue bonds to the am iunt of
$100,000, for the purpose of paying the fl >ating debt
and the expenses to be incurred in improving the
present school building.
The securities have been author­
ized by the General Assembly of the State of Connecti
cur, and proposals will be received until 2 o’clock p. M May
13, 1897, oy C. H Burt, Treasurer, at the State Bank, Hart­
ford, Conn., for the purchase of the same. The denomma
tion of the bonds will be $1,000, interest at the rate of 4 per
cent will be payable semi-annually, and the princioal will
mature in twemy years from date of issue. Tne district com ­
mittee will hold a meeting on May 14, 1897, to decide in re­
gard to the awarding of the bonds.
Huntsville, Tenn.—Bonds Proposed.—The city of Hunts­
ville has under consideration a proposition to issue .$30,000 of
bonds to provide funds for the construction of a sewerage
system.
Hyde Park, Ohio.—Bond Offering—Proposals will be
received until 12 o’clock noon, May 22. 1897, by Frank Lewis,
Village Clerk, for the purchase of §4,143 80 of 5 per cent
street improvement bonds. The securities will be of the
denomination cf $414 38 each, dated May 25. 1897; interest
will be payable annually, and the principal will mUure at the
rate of $414 38 per annum from May 25, 1898 to 1907, inclusive.
No bid for lisa than par and aocrued interest will be con­
sidered.
Indiana County, I &.-Bond. Sale.—The $44,500 of 4 pet
cent fun ling bonds of Indiana County hive bien sold.

913

The s3curitios will miture as follows: $23,000 on January 1,
1900, and the remainder on January 1, 1901.
Jamestown, N. Y.—Bond Sale.—It is reported that the $26,000 of 5 year paving certificates of the town of Jamestown
have been re-awarded to Deitz, Dennison & Prior. The se­
curities were originally sold to Ja3. W . Longstreet & Co.
Jersey City, N. J .—Bond Sale.—The Board of Finance of
Jersey City has sold to Blair & Co., of New York City, $109,000 of 4 per cent nark bonds at oar.
Bond News.—It is reported that Mayor Hoos of this
city has announced that he will not approve the issue
of $40,000 of bonds which the previous administration
had arranged for. The last Legislature authorized the
City Hall Commission to issue bo ads in anticipitiou of the
sale of city property, the proceeds of which wer ;o be used
for the payment of claims growing out of the building of the
new city hall. The old city hall not having been sold, the
commissioners wish to issue the bonds as authorized.
Key West, Fla.—Bonds Proposed.—It is reported that this
city will issue $100,009 of 5 per cent refunding bands.
Lenawee County, Mich.—Bond News.—A report has been
published to the effect that the citizens of Lenawee County
would soon vote on a proposition to issue bonds to provi ie for
the construction of a county jail. We have been officially in ­
formed that this is not true and that no such proposition has
been thought of.
Le Roy, N. Y.— Bond Issue.—The Water Commissioners of
Le Roy have decided to issue $10,000 of additional water
bonds.
Lindavista Irrigation District, Cal.-—Bond Offering.—
Proposals will be received until May, 15, 1897, by this district,
for the purchase of $824,000 of bonds
Lisbon, Ohio.—Bond Sale.—The $9,500 of 6 per cent streetimprovement and $11,000 of 6 per cent special assessment
bonds offered by tnis village on May 3, 1807, have been
awarded to Seasongood & Mayer, of Cincinnati, at a premium
of $1,400. The street-improvement bonds are of the d-mominalion of $5)0 each, dated May 1, 1897; interest is uayable
semi annually, and the principal will mature as f iltows:
$2,500 at the rate of $500 per annum, from May 1, 1898 to
1902, inclusive; $5,000 at the rate c f $1,000 per annu n, from
May 1, 1903 to 1907, inclusive, and $3,000 on May 1, 1903.
The special assessment bonds are of the denomination of $100
each, dated May 1, 1897; interest is payable annually, and the
principal will mature at the rate of $1,000 per annum, from
May 1, 1893 to 1908, inclusive.
Los \ngeles. Cal..—Bond Offering.—Proposals will be
received until 10 o’clock A . M Mty 17, 1897, by C. H Hance,
.
City Clerk, for the purchase of $270,000 of 4 per cent gold
refunding bonds. The securities will be dated June 1, 1897;
interest will be payable semi-annually on the first days of
June and December, and the principal will mature at the rate
of $6,750 per annum, beginning with June 1, 1898. The
bonds will be of the denomination of $250 and $500, and will
be payable, both principal and interest, at the office of the
City Treasurer of Los Angeles. No bid for Ies3 than par and
accrued interest will be considered and each proposal must
be accompanied by a certified check for 3 per cent of the
amount of the bid.
The amount of bonded indebtedness which the citv of Los
Angeles can assume, as regulated by the law, is $7,836,345, or
15 per cent of the assessed valuation.
The present bonded debt is $1,408,900; assessed valuation,
$52,242,302; tax rate (per $1,000), $13 00. Property is assessed
at about 60 per cent of its actual value. The population is
at the present time estimated at about 100,000.
Louisville, Ky.—Bonds Invalid.—3udge Toney in the Law
and Equity Court has decided that the sale of $588,000 of re­
funding bonds, awarded last month by the city of Louisville
to the New York Security & Trust Company, was unconsti­
tutional.
The Sinking Fund Commissioners were authorized to issue
bonds to refund $499,000 of water bonds maturing July 1,
1897 and $89 000 of ci'y bonds maturing August 1, 1897, or
$588,000 of bonds in all.
The Commissioners asked for proposals for the purchase of
$538,000 of bonds and awarded the entire issue to the New
York Security & Trust Company for $027,000, or a premium
of $39,000.
J udge Toney decided that only sufficient bonds should have
been sold to refund by the proceeds of the sale the $583,000
of bonds maturing.
The case will be appealed to a higher court.
Lowell, Mass.—Bond Sale.—On May 4, 1897, the $75,000 of

4 p er c e n t s e w e r b o n d s w e r e a w a r d e d to B lo d g e t , M erritt &
C o. o f B o sto n . M ass., a t 102-83. T h e o t h e r b id s r e c e iv e 1 w e r e :
Leland, Tow le &Cn., Boston. M ass................................................102-8150
Lee. Hieginson & Co.. Boston. M a ss....................................... — 102-8140
Blake Bros. & C o., Boston. Mass .......... - ................... . . . . . - —102-7490
H orace 8. Hom er
Co . Boston, M a s s ................. - .................... 102-7420
Est *b ook & Co.. Boston. Mass ................. ................. ..........— 101-6590
N. W Harris A Co., Boston. d a s s ............... ........... ...................1 0 2 -5 7 0 0
t
R. L. I) ,y & Co , Boston, Mass............. .......................................... 102*5360
Jas. W. Longsireel «& Co.. Boston. Mass................ —....................102-5330
■lose Pa ker & Co , Boston, Mass.................................................... 102-5179
L. W. Morrison, New York, N. Y .................................................... t o 1-5000
Adams & Co , Boston, Mass - ..................................... ...... ............ 102-4460
T hird National B thk, Boston, Mass.............................................. 102*3500
E. n . Rollins & Sons. Boston, Mass................................................ 102-2790
W, J Hayt-s < Sorts, Boston, M aes_____ _____________________102-2700
fe
Parkinson A Burr, Boston, Maas ............ ............................. . 102*2520
c
Rudolph Kleybolte & Co., New York, N. Y ........ ..................... 102-0300
D. W. Howland, Boston, Mass. .................. ............................................................- ........

THE

914
Til**
^

C H R O N IC L E .

ar«' ^ * # * 4 its th # fo r m o f tan re g is te r e d b o n d s o f
t ;H*i / hik I »rv p iy & h ta r e s p e c t iv e ly in ten s u c c e s s iv e
fi-am ttnie o f i&fttte. In terest u a th e s e c u r it ie s is p a y a b le

/V r v .f-ut-v i.
d c ^ R m t on ih o

i

— T h e fo l l o w i n g bids w e r e received f o r th e
o f f i x m o a t b s n o t e s issu e d in a n t i c i ­

pation of the eoll« etion of taxea*
Sate o f

Kv.Ci! a **rK«4wit>, Host#H,

W.

16-10

> , . ,- - .,,.3 000

,***»..** .-**..*.3*040

4 O Ii>s4*>»* If*»».,«»
* e.«

H Skkr B r « * . A IV * .

M a « * .. . . . . .

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

3*040
.3*100

I.>5io*v#r»t* A j«**tti*oi4* N e w Y o r k , K . Y . . . , . , . . , ........ . 8 1 2 8

1:4.5£vrh A Ortwker, ft » t o 8 , M u o .................................. 3*130
litm ti-rV , M e r r itt to C o .. B o s t o n , w u t . .

..........

...3 * 1 4 0

If. KotUn.* A Son..,
................. ............ 3*150
CiMo»; Wfttt A iV*. Boston, Mass. ............ ..... ......3 * 2 0 0
3 . I lo i u e r A C o ., B o s t o n , M a s s . . . . . . . . . . . . . . . . 3*30 0
IX W. ffoYt'Urut, Bo »ion .M ass.. . . . . . ___. . . . . . . .....3 * 5 0 0

Utel** 0»nliw»li it Bri«if,

ft l« 0«.y to Co,, II •lot),

Conti.

Mam. .........

**##, B il<
08(iQ& A Co*, ftmlOB* M i i f t ,.. . . . . . . . . .

Otso- a .
4 to Go * Boston, Mann. . . . . . . . . .
n w HitrrU A.Go.H * Y ,..
.............................
X -.4:1. im f fk Co,.
H imik
........ .
AA*m * h €kh» Bc iIoo, M a««.... . . . . . . . . . . . . .
m
RlaX*
to Oflv Bx*4#ti, M a il . . . . ____ . . . . .
t>Chiinus.* T rim Oo,f If kUlletown* Gunn . . . . . . . .
II, fioHlail A Sou*, ttoRtBQ, Milb 5 .... . . . . .
# Urnl> v vu0:» to Co X. Y . . . . . . . .
v
4i*lahrr«s li: 4
>
tUwtmf, M o<-i
....
WUuhe+u. Martin to €«*» H m to o ,H a m . . . . . .

B. A. K

3
2

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

..107*500
...104*606
.. 100*330
..100*230
.106*171
. 106*070
105 830
. .105*812
...105*776
...105*700
..105*290
.1 0 5 170
. 106*050
, .104*540
. , i0 3 ‘v 00

T w o h u n d re d th o u s a n d d olla tu o f th e se c u r itie s w pre
a w i u , ! - i to the M ild ie t o w n S a v in g s B a n k a t th e ir bid o f
« ) , an d $l5,t)0t», th e r .-n u iia d jr o f Um a u t h o r i z 'd issu e,
w e r e w itlib v l’fi fo r esUtifUfttiocu
M ilw a u k e e , W U . -B o n d s P r o p o s e d .— T h e c i t y o f M ilp r '.p r .i,,
iMUP s e w e r a g e h a n d s t o th e a m o u n t o f
Mo . - B o w l S ale. - O a M arch 22, 1897, t e n d s o f
thi* * itv t o th e a m o u n t o f $1,600 w e r e a w a r d e d to th e C otn -

5' i * latti* o- Monett at par. The securities bearinterat *****
1 1 • * cunt, payable at the National Bank o f
* •7
r‘ “■ '* v * ,,T' L-ity. and mature in from 5 to 20 years
K

,

M n u H r ie . L a . - A ! - l / n d p o w n l .- T h e s a le o f b o n d s o f this
' 7 . " , . ? * fn h ave ta k e n p la c e o n M ay 4, h a s b e e n postv ’’ '
“ ' 1•
*'
("U n ! i m p : ,-iole to P ave th e b o n d s
!

prepared by the date set. The securities are school bonds to
the amount of 35,000, bearing interest at 6 per cent apd matur­
ing in 20 years from date of issue.
Mount Morris, N. T.—Bonis Authorized,—Bonds of this
town to the amount of $30,000 have been authorized.

M orristown, Minn. —Bond Offering.—Proposals will be re­
ceived until 10 o’clock a . m„ June 10,1897. by W. D. Widrick,
Village Recorder, for the purchase of $3,030 o f 5 per cent
public-hall bonds. The securities will be o f the denomination
$1
of $500 each, dated June 1, 1897; interest will be payable
1 annually and the principal will mature at the rate of $500
3 every two years, beginning with August 1, 1900, both princi­
pal and interest being payable at Morristown. Rich bid
must be accompanied by a certified check for $100, payable to
the order of the Village Recorder.

The no:« - were awarded to the Old Colony Trust Company.
l.BWberton, N. C.—Bonds Authorized,—The citizens of
Lumber-ton have voted in favor of a proposition to issue
$3,000 of waterworks bonds. The securities will be offered
for sale in about two months; they will bear interest at the
rate of 5 per cent and will mature in thirty years from date
of issue, hath principal and interest being payable at the
Atlantic National Bank of Wilmington, N. C.
Lynchburg, Ya.—Bond Call.—A notice has been issued to
the effect that on June 1, 1897, the city of Lynchburg will
redeem $12 1,800 of 5 per cent coupon and registered bonds, on
which date interest will cease. Toe called securities are dated
Julv !. r -- 2 , and January 1, 1887, and are in denominations
of $100 and $10,000,
Macon. Ga.—Bonds Authorized.—The city of Macon has
been authorized to issue $50,000 of bonds, The securities will
be of the denomination of $1,000 each ; interest at the rate of
4 per cent will be payable quarterly on the first days of Janu­
ary, April, July and October, at the office of the City Treas­
urer of Macon,’ and the principal will mature in thirty years
from the date of issue. Both principal and interest will be
payable in gold. A sinking fund of $1,000 per annum shall be
set aside for the first twenty-five years. If at the end of that
period the sinking fund, together with the interest earned on
it, shall W h ss than $40,000, the city will art aside $3,000 per
annum until the fund amounts to $50,000, provided that the
City Treasurer shall be allowed to redeem the bonds at his
discretion at a price not exceeding par.
Marietta, Ohio —Bond SaU.—Oa April 27, 1897, the $11,802 of 0 per cent bonds of Marietta were awarded to S. Kuhn
A Son, of Cinci mail, Ohio, at 106*69. Til a securities are is­
sued in anticipation of the collection of special assessments
for sewer improvements ; they are of the denomination of
$59,» 10 each, dated March l, 1897, interest is payable aemiannuislly, and the principal will mature at the rate of $590 10
. very six months from date of issue, payable at the fiscal
agency of Marietta in the city o f New York.
Medford, Mass.—Bond Offering.-Proposals will be received
until 11:150 o’clock a . m., May 11, 1897. by Parker R. Litch­
field, City Treasurer, for the purchase of $200,000 of 4 percent
bonds. The securities will be o f the denomination of 81,000
each, dated May 1, 1897, interest will be payable semi­
annually on the first daysjof May and November, and the prin­
cipal will mature Mav 1, 1917, both principal and interest
being payable at the Howard National Bank of Boston. Mass.
Mercer County, N. 1).—Bonds Authorized.—The County
Com miss toners of Mercer County have authorizsd au issue
of #85,030 of funding bonds.
Middletown, Conn,—Bond Sale.—The following is a com­
plete list of the bids received lor the purchase of the 3200,000
to #215.000 of hoods offered by the city of Middletown on
April 29, 1897 :
Midcl!rfj*w a SavJojfi B i»lr,

LX.1V.

P i scm m l, Premium.

014i . r m # . t Co,,'Bew
itoa*
•t^srit* 4 S§t»l4ev* ttosi«o.* M
s**.*,

|V o l .

Newark, N. J .— Bond Offering.—Proposals will be re­
ceived until 4 o’clock p . m . May 26, 1897, b y John 8 , Gibson,
City Comptroller, for the purchase of $300,000 of 4 per cent
registered library bonds. The securities will be of the denom­
ination of $1,000 each, dated June 1, 1897; interest will be
payable semi-annually and the principal will mature in thirty
years from date of issue. The bonds will be exempt from
taxation. Bach proposal must be accompanied by a certified
check for 5 per cent of the amount bid for.
The total debt of the City of Newark on January 1,1897, was
$13,778,000, $7,757,000 of which constituted the water debt;
sinking funds, $3,784,652 88 ; net debt, January 1, 1897, $10,983,847 12, The assessed valuation for 1896 was $133,483;811,
apd the net earniogs of the water plant $495,481 50. The pop­
ulation in 1890 was 181,830. The City Comptroller reports that
since January 1, 1897, $148,000 of permanent bonds have been
paid and $80,000 issued. Temporary loan bonds are only issued
by the city in anticipation of the collection of taxes and as­
sessments for pavings and sewers, and are fully covered by
the city’s temporary assets. The interest and sinking fund
charges on the water debt are (about) paid by the revenues
from the water department, the interest and sinking fund
charges on $498,000 of tax arrearage bonds by the collection
of taxes on real estate, and on $335,000 of market bonds by the
earnings of the market.
The official notice of the bond offering will be found among
the advertisements elsewhere in this Department.
New M exico.—Bond Sale.—The $75,000 of 5 per cent
refunding bonds of the territory of New Mexico have
been awarded to the B. L. & G. D. Cook Company of Chicago,
III. Twenty-five thousand dollars of the securities are dated
May 1, 1895, and $50,000 are dated November 3, 1895. The
interest is payable semi-annually on the first days of May and
November at the Na ional Bank of Commerce in the city of
New York, and the principal will mature in thirty years from
the above dates of issue, subject to call after 1915.
Newton, Mass.—Bond Sale.—Oa April 29, 1897, Seth A .
Ranlett, City Treasurer, received the following bids for the
purchase of the $100,000 of 4 per cent thirty-year sewer bonds;
Estabrook & Co., Boston, Mass.
Blake Bros. & Co., B oston, Mass,
Jaa. W. L ongstreet A Co . Boston, Mass.
Adam s & Oo,, Boston. Masa. .. ..
R L. Day & Co., Boston. Mass
.........
Klodget. Merritt & Co , Bngtoo. M is s ...
D. 8, Homer & i'o.. Boston. Maas.
. .
Tower. Qiddtntt* < Co.. Boston, M ass...
fe
N, W. Harris * Co , Boston, M a-n..........
Geo. A. Feraald A Co,, Boston. Mass.
Jose Parker & Co., Boston, Mass............
E. H, Rollins & Sons, Boston, Mass........
Psrkinson & Burr, Boston, M ass.. ....... .
Dietz, Denison <s Prior, Boston, Maas..
S

.................. 109-170
$25,000 J09-050
25.000 109 000
25.000 108 900
25.000 108*800
.................. 109*010
.................. 108 920
.................. 108*917
.................108*710
.................. 108*659
.................. 108*625
.................. 108*585
.................. 108*530
__________108*399
.................. 108*279
..................108*200
................. 108*000

The securities were awarded to Estabrook & Co. at their bid
of 109*17.
New Orleans, La .—Regarding the Incorporation of a
Sewer (J
o.—On April 14, 1897, the articles of incorporation of
the New Orleans Sswer Company were filed in the city of
New Orleans. The object of this company is to provide a
system of sewerage for the city. The purposes for which the
company was organized, as set forth in Article II, of the act
of incorporation, are as follows:
“ The objects and purposes for which this corporation is
organized and the nature of the business to be carried ou by
it are hereby declared to be the acquisition of the sewerage
franchise originally granted lo A. A. Woods and his associ­
ates by ordinance No. 6,142, C. S., and to construct, maintain
and operate the system of sewerage in the city of New
Orleans, provided for in sai l ordinance and iu the contract
subsequently entered into by virtue of said ordinance between
the said city of New Orleans and A. A. Woods and his asso­
ciates, bv act before Joseph D. Taylor, of date the 13th day of
April, 1893; and to assume all the obligations of said A. A.
Woods and associates to the city of New Orleans under said,
contract and generally to cons'ruct and maintain works of
drainage, sen i rage a id land reelt nation.”

M

ay

8 , 1S97.J

THE ( HROVI LF.

The amount of capital stock is fixed at $2,000,00(1, and it is
provided that the company may become a going concern
when the sum of $700 in cash has been subscribed to the
capital stock. The board of directors has authority to au­
thorize mortgages upon the property of the company, with­
out the consent of the stockholders to the extent of S3,000,000,
but to increase the debt beyond that amount the consent of
the stockholders must be obtained at a special meeting called
f-or that purpose.
Niles (Ohio) School District.—Bond Sale —On May 3,1897,
the $10,000 of 5 per cent school bonds of this district were
awarded to N. W. Harris & Co. of Chicago, 111,, for $10,547'50. The other bids received were :
Rudolph K leybolte A Co.. Cincinnati, O h io............................... $10,485 37
S. Kuhn A Son. Cincinnati. O h io................................................. 10,160 00
Seasongood A Mayer, Cincinnati, O h io ............ ...................... 10,451 kO
Parson, Leach < Co., Chicago, 111................................................ 10,443 50
fe
Mason, Lewis A Co., Chicago, 111........................... - .................. 10,417 00
T he Lam precht Bros. Co , Cleveland, Ohio .............
10,403 00
Fourth National Bank, Columbus, O h io.................................... 10,385 O"
First National Bank, Niles, O h io ................................................ 10,308 OO
J. B. W orks....................................................................................... 10.292 00
Spitzer A Co., Toledo, O h io .......................................................... 10,227 o o
D. B. Lyons....................................................................................... 10.167 50
W. J. Hayes & Sons, Cleveland, O h io ...................... - .............. 10,094 00

All of the bids received were with accrued interest except
that of N. W. Harris & Co,, who bid $10,547'50 flat.
Norfolk County, Va.—Bond. Offering.—Proposals will be
received until 12 o’clock noon, May 11, 1897, by Alvar H.
Martin, Clerk of the Board of Supervisors, for the purchase
of $25,000 of 5 per cent refunding coupon bonds. The securi­
ties will be dated July 1, 1897; interest will be payable semi­
annually, and the principal will mature in ten years from
the date of issue.
Ohio.—Bond Offering.—Proposals will be received until
June 10. 1897, by Malcolm Jennings, Clerk of the Sinking
Fund Commission, for the purchase ot $250,000 of 3 per cei t
State bends. The securiiies will be dated July 1, 1897, inter
est will be payable semi-annually on the first days of January
and July, and the principal will mature July 1, 1902. No bid
for less than par will be considered. The proceeds of the sale
are to be placed to the credit of the sinking fund and the
bonds, with the interest thereon, will be payable out of the
sinking fund.
The aggregate debt of the State of Ohio at the present time
is $1,541,665, bearing 3 per cent interest.
Okobojo Townghip, 8. D.— Bond Issue.—This township ii
refunding certain school bonds which are redeemable at the
present time.
Ogden, Utah—Bonds Proposed.—The Council of this city
proposes to issue $250,000 ot bonds for the purpose of either
purchasing or erecting water-works.
Omaha, Neb.—Bonds Authorized.—The citizens of Omaha
have voted in favor of a proposition to issue $50,000 of paving
bonds.
Orange, N. J.—Note Sale—This oity has sold $150,000 o f
4}-£ per cent sewer notes to the New York Mutual Life I asurance Company at par. The securities are dated May 1,
1897, interest is payable semi-annually on the first days of
May and November, and the principal will mature at the rate
of $37,500 every six months from November 1, 1897, to May
1, 1899, inclusive.
Palo Alto, Cal.—Bond Sale.—The town of Palo Abo
has sold the $40,060 of 4 per cent 1-40 year bonds to J. H .
Warren & Co., of Portland, Ore., at par and accrued inter­
est. Interest on the securities is payable at Palo Alto.
The bonds were originally awarded to the Lamprecht B ros.
Co. of Cleveland, Ohio, but as that firm claimed the ac­
crued interest on the securities, the award was canceled and
the bonds sold as above,
Pickens County, Ala.—Bond Sale.—Pickens County has re­
funded certain 8 per cent bonds by an an issue of 6 per cent
bonds.
Pelham Manor, N. Y.—Bond Sale.—On May 1, 1897, the
$50,000 of 4 per cent gold sewer bonds of Pelham Manor
were awarded to E. H. Rollins & Sons, of Boston, Mass., at
105'53. The other bids received were :
Rudolph K leybolte A Co.. New York, N. Y .....................................105-090
N. W. Hari i- * Co., New York, N. Y ..............
103-eTO
R -L . Day St Co., New Y o k. N. Y . ....................................................102-139
J. A W Seligman 4 C o.,N ew York, N. Y ........................................ 10 2137
Dietz. Oeniron A Prior, Cleveland, O hio........................................ 10L 770
Seymour Bros. * Co., New Y ork. N. Y ............................................101-750
Dan’l A. Moran & i < New Y ork. N. Y ............................................ 101-680
>.,
Bertron A Storrs, New York. N Y ..................................................... 1H0125
L. W. Morrison. New York, N. Y ........................................................100-U40
Isaac W . Sherrill, Poughkeepsie, N. Y .............................................XOO-oOO

Five other bids were received which were either too late or
failed to comply with the terms of the sale.
Interest on the securities is payable semi annually on the
first days of May and November at the office of the Knicker­
bocker Trust Company of New York City; the principal will
mature May 1, 1917.
Pittsburg, Pa.—Correction.—The $6,000,000 water bonds
sold by the city of Pittsburg to James Caruthers of Pittsburg
bear 4 per cent interest instead of 4
as reported by us last
week.
Pittsfield, Mass. —Bond Offering,—Proposals will be re­
ceived until 8 o’clock p. m ., ,Uay 12, 1897, by E. H. Kennedy,
City Treasurer, for the purchase of $170,000 of 4 per cent
gold school hoods and $100,0u0 of 4 per cent gold water bonds.

915

The securities will be dated May 15, 1897; interest will be
payable semi-annually on the fifteenth days of May and N o­
vember, and the principal of each issue will mature at the
rate of $10,000 per annum, beginning with May 15, 1898.
Both principal and interest will be payable at the National
Bank of Redemption of Boston, Mass. The above loans will
be issued in the form of coupon bonds of $1,000 each, or, if
desired, the school bonds will be in the form of registered
certificates of $1,000, $5,000 or $10,000 and the water bonds in
the form of registered certificates of $1,090 or $5,000.
I he official advertisement of this bond offering will befound
elsewhere in this Department.
Pittsford, N. Y.—Bonds Authorized.—At an election held in
this place on May 4 the question o f issuing bonds to pay for
the construction of a water-works system was carried.
Portland, Ore. —Bond News —A report has been published
to the effect that the city of Portland has sold $90,000 of 6 per
cent 20-year funding bonds. We have been officially informed
that tbis is not true. In September, 1896, the city sold $85,000 of 6 per cent 10-year improvement bonds to J. W . Caruth­
ers at par and accrued interest, to be taken from time to time
as the city should issue them. The contract has not as yet
been entirely filled.
Pnnxsutawney, Pa .—Bond Offering.—Proposals will be
received until May 13, 1897, by this borough for the purchase
of $8,000 of bonds. The securities will bear interest at the
rate of 4 per cent and will mature in thirty years from date
of issue, subject to call after eight years.
Richmond Hill, N. Y.— Bond Sale.—On May 1, 1897, the
$70,000 of 4 per cent gold street imm-ovemeat bonds of the
village of Richmond Hill were awarded to Farson, Leach &
Co , of New York City, at 109-567. The other bids received
were:
Roberts & Co........................................................................................... 109-375
C. H. White & Co., New York, N. Y ...................................................109-251
Rudolph Kleybolte A Co., New Y'ork, N. Y ..................................... 109-030
W alter Stanton & Co., New York, N. Y ............................................108-500
Tsaae W. Sherrill. Poughkeepsie, N. Y ........................................... 107-870
Street, Wykes A Co.. New York, N. Y .............................................. 107-850
Dietz. Denison A Prior, Boston, Mass ............................................107-777
W. J. Hayes A Sons, Boston, Mass............ ......................................107-750
Seymour Bros <t Co., New York, N. Y ............................................107-730
Dan'l A. Moran A Co., New Y ork, N. Y ............................................107-168
The Lam precht Bros. Co , Cleveland, Ohio ....................................107-100
Bertron A 8torrs. New Y ork, N. Y .....................................................107-070
Geo. M Hahn. New York. N. Y ...................................................... 106-950
Benwell A Everitt, New Y’ork, N. Y ............ .................................... 104-375
E. D. Shepard & Co., New York, N. Y ...........................................101-560
E. H. Gay & C o., Boston, M ass......................................................... 1 0 1 1 9 5

The securities are of the denomination of $1,000 each, dated
May 1, 1897; interest is payable semi-annuallv on the first
days of Mav and November, and the principal will mature at
the rate of $5,000 per annum, beginning with May 1, 1987.
Ravenna (Neb.) School District.—Bond News.—It has
been reported that $5 500 of 6 per cent 6-year school bonds of
this district have been sold. We are informed by the Treas­
urer of the Board of Education that the report was not cor­
rect; the bonds have not yet been disposed of.
Ridgeway and Shelby (N. Y.) Union Free School District
No. 12.—Bond Sale.—On May 1, 1897, the Board of E loca ­
tion awarded the $19,000 of school bonds to Rudolph Kleybolte & Co., of New York City. The securities are ot the
denomination of $1,009 each and will mature at the race of
$1,000 per annum from November 1, 1898 to 1916, inclusive.
Rockpart, Me. —
Bond Sale.—The town of Rockport has
eold $13,000 of 3 per cent 5-10 year optional bonds to local
parties at par. Interest on the securities is payable at the
office of the Town Treasurer.
Rocky River (Ohio) Special School District.— Bond Sale.
—On May 1, 1897, school bonds of this district to the amount
of $4,000, bearing interest at 6 per cent, w»re awarded to W .
J. Hayes & Sons, of Cleveland, Ohio, for $4,167. The follow­
ing is a list of bids received :
W, J. Hayes A Sons, Cleveland, O h io...............................................$1,167
H. W. Stecher . .............................. ......................... .
4,160
S. A. Kean, Chicago. Ill ....................................................................... 4,050
Spitzer & Co., Toledo, O h io.................................................................. 4,037
Rogers & Son, Chagrin FallB. O h io .................................................. 4,017
Dietz, Denison A Prior. Cleveland, O h io.................... ................... 4,007
Seaaonvood * Mayer, Cincinnati, Ohio ........................................... 4,007
Lainpreoht Bros. Oo., Cleveland, O hio.............................................. 3,980
J. B. Work", Cleveland, O h io............................................................... 3,920

The securities are of the denomination of $800 each, dated
May 1. 1897, and will mature at the race of $800 per annum
from May 1, 1898 to 1902, inclusive.
Sharon Springs N. Y.—Bond Offering —Proposals will be
received until 7 o’clock, p . m ., May 18, 1897, by the Baard of
Water Commissioners of this village, for the purohase of $30,000 of Water-works bonds.
Somerville, Mass.—Bond News. —
The bonds of this city, re­
ported in theC H B O N lC L E bf April 10 as having been authorized,
are described as follows : City Loan bonds to the amount of
$142,000 and Sewer Loan bonds amounting to $25,000. All of
the securities will be dated July 1, 1897, will bear interest at
4 per cent, payable semi-annually at the National Security
Bank, Boston, and will be of the denomination of $1,000. The
principal of the City Loan bonds will mature part yearly on
Julv t, as follows : from 1898 to 1901, $11,000 yearly ; from
1902 to 1907, $9,000 yearly ; from 1908 to 1911, $5,000 yearly,

THE CHRONICLE.

916

Waltham, Mass.—Bond Sate.—W e give below a list of bids
received on M ay-1.1897, for the $7,000 of -1 per cent tliiriyvear sewer bonds, $6,000 of 4 per cent twenty-year water
bonds and $5,000 of -1 per cent ten-year building bonds of this
city. The sewer and water bonds were awarded to M ew s,
Jaa. W, Long-irc-et & Co. and the building bonds to Messrs.
R. L Day & Co., Boston. The bids were as follows:

» a d Ift-iss i;n ' u<
$1,009 t>nob y « u r . T h e S e w e r L o a n
;
if. 1* 5h •rale o f 1 1,000 y e a r ly o a J u ly 1, fr o m
.
|S *i hi l v i i . m o h isiv e .
h a a t h n e r t t.V. ¥ > S c h o o l D l i t r l o t N o. 4 .— B o n d O ffe r in g .
—
... it» w ill ! m» r e c e iv e d u n til M ay 15, 1801, t>y tn h dtsU ; t r 11,.:. H irv tu u c o f $5,590 o f 5 p e r c o o t a c h o o l b o n d s . I n % !.
r
.n sin. un ti* . w ill t>» p a y a b le a a o u a l l y . .ta d t o e
j.'i.n . if.*! w ill m a to r e in fr o m fo u r a n d o n e -h a lf to fifte e n a n d
u n c h a lf y e a rs fr o m ilnte o f issu e.

S tiv e r

b o o d i fo r

th e e o n -

T y r o n e , F a .— Bond M ee t ion.— A p r o p o s it io n to issu e b o n d s
fu r the purchase o f a w a t e r -w o r k s p la n t w ill b e p u t to a v o t e
o f the p e o p le o f th is m u n ic ip a lity o n J u n e 19, 1897.
1 a lm s i o n a l y , N. J . — B o n d s A u t h o r iz e d . — T h is c o u u t y
ha* been a u th o ri/. -d to issu e $31,000 o f b o n d s fo r t h e
p u rch sK i ■■! th e S h e r id a n H o u s e o f E liz a b e th , N . J . , f o r
c o u n t y p u rp oses.

Building
Bonds.
103 610
103-786
103-710
103-473
103-180
103-417
103-510103-550
103-580
103-540
103-510
103-150
103-176
102103010
320 3 - 140
10
106-375
102-300

Water
Bonds.

Bonds.
James W. Longstreet <k C o.................... .108-793
H 1. Ditv A Co
. ............................... . .108-7*0
BlOdcet, Merritt St C o...................... . .. . 108-770
OusuMi.n F is h e r * I’ belpB....................... 108-591
Fa. soil. lo-aeti * C o .....................................X08-5liO
E. B. Kollfns A Sons.................................... ltH-557
Estabrook & Co.............................................108-510
J s» Parker * Co..........................................108-439
Adams ,v. Co ................................................ 108-4-I0
Bb i n Ores. & C o ........... .......................... 108-440
bee, Hfpffinson & Co................................ 108 270
W I . l f a i e s A S o n s ..................
...1 0 7 -7 2 0
P -rklnson 4- B urr........................................107-520
belaud. Towle A C o .............. ................... ,107-295
Rudolph Kjevtiolte < Oo................
fc
106-990
X>. \V ITuwU, d ..........................................106-855
N. w . Harris & Co. ( a ll or n on e)..............106-375
Columbian Trust Oo., M iddletown, Ct.. .105-523

Bonds luthorveed.—The city of Syracuse

syr«rtt*e, -V Y

has !».•!! a u th o ris e d to isstt* $51,000 o f
s lr u c iw o o f m u n ic ip a l s u b w a y s .

fV 0 L . L X I V

■

106-788
106-720
106-511
10 6 *4 4 0

106-557
106 5IO
106-429
106 170
106 44 I
10R-410
105-890
105-636
105*350
10VJ80
105106- 375
101-920

W a - l ii a g t o n . P a .— B o n t O ffe r in g — P r o p o s a ls w ill b e r e «• m -i t y ib*- fin a n c e c o m m it t e e o f th e B o r o u g h C o u n c il,
(ia a . .John H a ll, C h a ir m a n , fu r th e p u r c h a s e o f $80,000 o f
street im p r o v e m e n t b o n d s Of th is b o r o u g h .
T h e - u u r i t k * are c o u p o n b o n d s - T th e d e n o m in a t io n o f
S’ >
. j i«>y wi l l t«- d tied J u ly 1, 1897, interest- a t th e ra te o f
l per l i nt w 01 b e p a y a b le at th e o ffic e o f th e B o r o u g h T r e a s ­
u r e r on th e first d a y s o f A p r il a n d O c to b e r in e a c h y e a r , a n d
th e p rin cip a l w ill m a tu r e , p a r t y e a r ly , o n O c to b e r 1, fr o m
1898 to 1010 in c lu s iv e .
T h e p re se n t b o n d e d d e b t o f th e
b o r o u g h ts $129,700 a n d th e latest assessed v a lu a t io n w a s
$3,039,677.

The sewerage and building loans are dated Jan. 1, 1897, and
the interest is payable on the first days of January and July.
The water bonds are dated April 1, 1897, and the interest is
payable o i the first rltys of April and October. AH the above
loans are issued in the form of coupon bonds of $1,000 each.
Wanseon, Ohio.—Bonds Authorized.—The City Council of
Wauseon has authorized an issue of bonds to provide for the
construction of a water-works system.

ra le ot $1,000 per a n n u m fr o m M ay 1, 1012 to 1931, in c lu s iv e .
B » h p rin cip a l an d in te re st w ill be p a y a b le a t th e G a r fie ld
N ation al B an k o f N e w Y o r k C ity .

25 bonds o f $100 each, redeem able June 1 .1 9 0 2 , payable June 1 .
1927.
15 bonds o f $500 each, redeem able June 1 ,1 902 , payable Ju ne 1,
1827.

W ilkes-Barre, Fa.— Bond Offering.—On June 1,1897, at 10
a . m ,, the city of Wilkes-Barre will sell at public auc­
B o n d O ffer in g — At 12 o ’c l o c k n o o n to -ila y th e B o a r d o f E d u ­ tion $100,000 of 41^ per cent improvement bonds. The securi­
c a tio n w til ?>-it $20,( nh) o f 4 p er c e n t b o n d s . T o e se c u r itie s ties will be dated June 1,1897, and the interest will be payable
w ill be o f th** d -n r im in a tio n o f $1,000 e a c h , d a te d M ay 1, semi annually on the first days of June and December at the
The loan will be
5897: in te re st w ill be p a y a b le s e m i-a n n u a lly o n th e first d a y s office of the Oi'y Treasurer of Wilkesbarre
.J M ay an d N o v e m b e r , a n d th e p r in c ip a l w ill m a tu r e a t th e issued in the following form :
Waterford i f . Y.s Union Free School, District No. 1.— o’clock

_________ N E W

L O A N S .

________ N E W
^

sg»30

0

, 0

0

NEW

JERSEY,

o f

Public Library
Bonds.

%, Qnm*y$t C o m p tro lle r at t h e C ity o f

Jeffrey, w ill r e w i r e u n til W ed n esd a y ,
a t t o ‘d e d P . MU n ea ied b id s f o r an
m m 0 f th irty* y e a r * p e r emit re g is te re d bon ds in

flM» 9%M at

$ 3 0 0 ,0 0 0 ,
N^isg***

< £ tend® in t h a t a m o writ a u th o r! red
»
hf %
mm %m tb# v«mHnicdidW c*l t h e F r e e P aW io
iMff-Mj.
w ill
in dMiorni n a -

siwti v t f t.*m» c m h .

1114?. f .. n© online*! Wednesday,

it.a t 28d, !*&?, M f'JM f*. M. t'ACh b id d e r 10
Id
w ritte ir ill» felgli##*
n t w h ic h He w ill p urthe whoii? or a n y p art at p aid i»«u© o f $300.t*f0.

fkm®* to t-e 4nf#d June I, If®*?. exempt from t$ y,
$
t
toy a

a n n u a lly .
Hid* t o h e «c~
i filed etteels f o r s pm c e n t o f
Mt$ tats T h # f ig h t to rejffsel a n y an d a ll btda
A ll fcM* to he ad*Srt***e<J to Jo h n 8.
mhrnrn. r.-T ap tm iier. XVwarfe. N ew J e n e y . arm

** Hid for iJbrmtf Bond

w - * '!,t*
”

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

OlfeoraeM o f n « » ............. ...............
l a w i g in

fund*

1

*

f7.W7.M0 00
0.OIMO1 00

- 113,“ 73,000

A ***
N## V fM C Of (So « « lr f iH m for
W taH *
Hi# fmm hmf , .............. . ........... .
$495,481 m
«*• fft$Wfeii. i» repr#t* f
|
to## *
«g*-la*t ut*.
pmMIH K I
KM
1
pnvipiti *$nd newera,
tm
aspi
if tb# tfty f« f
it*
! n > n n > l i i i n i 'w . ut ti* rer-naaptii
ih«
1
are afreet
00 Wi th$> t»
B
*§4sbi»,
ftmi
M k i*f fiBtof r.fcj»fw»# *m §4- *Tax
ste
BmOs.►
-#f% WMf w & by Ib# ^rttortion o f U tm on
m
*4*1% mst§
:
md
w
on
6B pf
Bfrm ar# t**P3 f# »» the earning*
lsc
■Hmk-fi-. Tb*» tsm im
in tli# i«@rc ascni
m
4S
?
fflif it* I#S*1 W| ffT I jm Sri.
* »:
j o b j i -f.m nm 09. Owopt rerier.
r Mall

M

a s s ,

Q U E E N S

L O A N S .

Principal and Interest payable in Gold.
Office of the City T reasurer * *
P ittsfield , Mass ., April l 1897. >
'6,
P u rs u a n t t o o rd er o f t h e C ity C o u n c il, a p p ro v e d by
th e M a y o r A p r il 8 . 1897, t h e u n d e rsig n e d . T re a s u r e r
o f th e C ity o f P ittsfield , w ill r e c e iv e u n t il W e d n e s­
d ay, M ay 12th. 1897, a t 3 P . M ., s e a le d p ro p o s a ls fo r
th e w h o le o r a n y p o rt o f T w o h u n d red an d s e v e n ty
•1.099 C oup on B un ds.
8aid bonds w ill be d a te d M a y iS t b , lf-97, to b e p g y a b le •IO.O ih) a n n u a lly , a n d w ill b e a r in t e r e s t a t t h e
ra te o f 4 p er went per an n u m , p a y a b le s e m i-a n n u a lly
on th e 1.4th d a ys i f M ay a n d N o vem b er. P rin c ip a l
and in ieresl. pavubJe in g o ld coin o f t h e U n ite d
S ta te s o f t h e p resen t s ta n d a rd o f w e ig h t an d fin ea t th e N a tio n a l B a n k o f R e d e m p tio n . In
B o s to n , M ass.
B chool bon ds to th e a m o u n t o f $ 1 7 0 , 0 0 0 w ill b e
issu ed u n d e r a u th o rity g iv e n b y C h a p te r 29 o f t h e
P u td ic S ta tu te s o f M a s sa c h u s e tts an d am en d ed

Act*.

W a te r bon ds to t h e a m o u n t o f S 1 0 0 . 0 0 0 w ill be
s*Mied u n d e r a u th o rity g ra n te d t o t h e C ity o f P it t s ­
field b y t h e p ro v isio n s o f C h a p te r 185 o f th e A c t s o f
lie (Tenera! C ourt o f M a s sa c h u s e tts f o r t h e y e a r
t m i ‘ fi" il in ended b y Clift p to r P i o f th e A c t s o f th e
rm r
‘tod m am em ted b y C h a p te r l i t o f t h e
y e a r .189(5.
H ’b ool bonds w ill he paid in s e v e n te e n a n n u a l
in * I ill m en i « o f 110,009 ea ch an d W a te r b o n d s in te n

amnm\ in stalm etit* o f $10,000 .each,
u ib-Mircd, rego-tered Hehool b o n d s m a y h e issu ed
In sum s Of f I.ooo. $r>,000 o r $10,000. and reg ia tered
\\nt**.T b o w ls in sum s o f $1,000 o r $6,000 e a c h , a t th e
op tio n o f th e holder.
T h r righ t in reserv ed t o r e je c t a n y o r a ll b id s.
n<tin-., in fo rm a tio n m ay be o b ta in e d o f t h e nn~
•* r*u.D«Ml, t o whom p rop osals s h o u ld b e a d d ressed .
r,
f‘ liv e ly , “ P ro p o sa ls f o r S c h o o l B o n d s ’ ’,

f' ro t*>■ Is fur %Vafcr Bondg.”
’ *a

E. H. K E N N E D Y ,
C ity T re a su re r.

___ ________

E dw ard

I.

U t \ l « II*.VI,
II i a b . t . r n d r

R o s e n fe ld ,
S E fT K lT IK S .

W a rra n ts

a

tS p v r in lty ,

Wrltr fur 1,1st.

No, 06 Broadway, New York.

N .

Y ,..

4^ R O A D B O N D S .

AND

W A T E R BONDS.

C O U N T Y ,
O O I jD

4- PER C E N T S C H O O L

XF.WAKK, X . J.. M ay 3d, 1897.
I,
X**w«jdL
Mu#- M ,

§ 6 1 8 , 0 0 0

0

P i t t s f i e l d ,

FOUR PER C E N T
Free

, 0

0

N E W

0
C i t y

NEWARK,

7

L O A N S .

D a te d A p r il 1 , 1 S 9 7 .

D u e A p r il l , H 117 *

In te r e s t A p r il a n d O cto b e r.
A s se s se d v a lu a t io n .............. ............
$85,345,111 00
R e a l v a lu a t io n ............................................... 2.0,000,OuO Oo
T o ta l d e b t (a l i t t le m e r e th a n 2% o f
a sse ssed v a lu a t i m ).. . . . . . . . . . .. . . . .
1,849,000 00
P o p u la tio n . 150,000.
A v r e a t part, o f Q u een s C o u n ty is in clu d ed in th e
G R E A P E R N E W v O R K . an d w ith in t h e p o rtio n so
in clu d ed a re p ra c tic a lly a ll o f t h e h ig h w a vs f o r th e
im p ro v e m e n t o f w h ic h th e s e b o n d s a r e issu ed .
R eg a l f o r in v e s tm e n t f o r T r u s t e e s an d S a v in g s
B a n k s in N e w Y o rk S ta te .
P r ic e a n d P a r tic u la r s on A p p lic a tio n .

T h e

L a m p re ch t B ro th e rd

C o ,.

1 9 7 S u p e r i o r S t ., C le v e la n d , 0 .

$ 9 % 0 0 0
C h o t e a u

C o u n t y ,

M o n t . , .

6 PER C E N T BONDS.
S e a le d p ro p o sa ls w ill b e re c e iv e d a t t h e office o f
th e C o u n ty C le r k o f C h o te a u C o u n ty , M o n ta n a, a t
F o r t B e n to n , t h e c o m ity s e a t o f sa id c o u n ty , up to
n oon o f M on d ay, J u n e 7 th , 1897, f o r t h e p u rc h a se o
S B S b O O O co u p o n b on d o f sa id c o u n ty , sa id b o n d s
to d ra w in terest, a t t h e r a t e o f s ix p e r c e n t p e r
an n u m , p a y a b le s e m i-a n n u a lly , In J a n u a r y an d J u ly
o f ea ch y e a r, re d e e m a b le In fifte e n a n d p a y a b le in
t w e n t y y e a rs a f t e r d a te o f issu e. S aid b o n d s a re
Issued fo r t h e p u rp o se o f c o n v e r tin g o u ts ta n d in g
w a rra n ts an d re d e e m in g o th e r bonds o f s a id c o u n ty
n o w d u e an d p a y a b le , Said n e w b on ds w ill b e issu ed
in d e n o m in a tio n s o f $ 1 ,0 0 0 e a c h , a n d b id s w ill b e
re c e iv e d fo r t h e w h o le o r a n y p a r t o f t h e a fo r e s a id
a m o u n t. P ro p o sa ls m u s t be en d o rsed “ P ro p o sa ls
fo r B o n d s ’1, a n d a d d re s se d t o E . F ra n k S a y re .
C o u n ty C le rk , Vo r t B e n to n , M o n ta n a . T h e r ig h t to
r e je c t a n y o r a ll b id s is re s e r v e d .
B y o rd e r B o a rd C o u n t y C o m m issio n ers,
E . F R A N K S A Y R E , C o u n ty C le rk

C h r o n ic le

Vo lu m e s .

A seco n d -h a n d s e t from I860 t o 1805—56 V o lu m e s ,
f o r sole.

W IL L IA M B. DANA COMPANY,
7GU P i n o S t r e e t , N e w t o r

4 30

M

THE CHRONICLE

8 . 1 8 9 7 .]

ay

20 bonds o f $500 each, redeemable June 1, 1907, payable June
1927.
20 bonds o f $1,000 each, redeem able June 1 ,1 9 1 2 , payable June
1927.
20 bonds o f $1,000 each, redeem able June 1 ,1 9 1 7 , payable June
1927.
20 bO D ds o f $1,009 e a c h , r e d e e m a b le June 1 ,1 9 2 2 , p a y a b l e June
1927.
20 bonds o f $1,000 each, payable June 1,1 927 .

917"

vertly omitted. We reprint the statement below with tha
issue inserted, and with the other figures in the statement
corrected down to the latest dates.
The county seat is Newark.

1,
1,
1,
1,

LOANS—

When Due.

W a r B on d s-

78, A&O, $ 5 1 0 .0 0 0 .... Apr. 1. 1899
Total debt Jan. 1, ’ 97. $3,265,000
111,00 0
Sinking funds..............
Net debt Jan. 1, ’9 7 ... 3.154,000
T ax valuation, real. ..1 57,7 63,5 15
P a r k B ond —
Tax valuation,person’l 31,501,406
365S.F& A,$1,000,000. A u .l,’ 15-35 Total valuation 1896 .189,264.921
($200,000 every 5 years.!
County ta x (per $1,000)....... $ 5 9 '8 3
4s. FA A, $L,500,000.. Aug. 1, 1926 Population in 1890 w as___ 256,090
R e f u n d in g B o n d s Population in 1880 was___ 189,929
48, A&O, $189,u 00...1 8 9 7 to 1905 Population in 1896 (est.)..3 15,0 00
($21,000 due yearly on Apr. 1.)
Principal and interest o f the park bonds are p ayable in gold.
R o a d B o n d s-

58, A&O, $4,588....... Apr. 30, 1901
5s, J&J, 30,000...... July 1 ,1 897
($10,000, d u e y ’rly) to July 1, 1899
5s, A&O, $33,870..........1897 1906

Of the total amount to be issued, 870,000 will be devoted to
sewer construction, $10,000 to fire-department improvement
and $20,000 to street improvement.
The bonded debt of Wilkes-Barre, including this issue, is
$493,700; floating debt, $53,726; total debt, $547,426. The
cash in the treasury at the present time amounts to $25,720 ;
other available assets, $93,666; total resourc-s, $119,336;
net debt, $428,040. The assessed valuation is $6,877,871 : the
real value is estimated at about $35,000,000. The population
in 1890 was $38,000, and at the present time is estimated at
IN T E R E S T on the $1,000,000 issue o f park bonds is payable b y the
about $5,000.
United States M ortgage & Trust Company, N ew Y ork C ity ; on th&
York County, Me.—Bond Sale.—York County has sold $1,500,000 issue o f park bonds at the office o f J. & W. Seligman & Co.
$25,000 of 4 per cent bonds to Woodbury & Moulton of Poito f New Y ork City and Seligman Bros, o f L on d on ; on aU otli9r bonds at*
land. Me. The other bids received were :
the M anufacturers’ National Bank, Newark, N. J.

Swan & Barrett, Portland, M e......................................................... 102 09
E. H. Rollins dk Sons, Boston, Uass.. ....... - ...................................... 102 04
Farson, i each & Co., New York, N. Y ....................... ........ .............. 102-04
L u tn erR Moore, Saco, Me.................................................................... 1 0 1 7 8
Bietz, Denison & Prior, Boston, Mass................................................ 101-07
This loau constitutes the only bonded indebtedness of Y o r k

County.

Dabnque, Iow a.—T. T. Duffy, Mayor.—The following
financial statement of the City of Dubuque ha? been cor
rected up to April 1, 1897, by means of a special report to the
C h r o n i c l e from L. M. Langstaff, City Clerk :
Dubuque is situated ia Dubuque County.
~

_____

S T A T E

A N D

C I T Y

D E B T

LO A N S—

C H A N G E S .

I N V E S T M E N T S .
I n v e s t m e n t

Y o r k

B o n d s

S a v i n g s

a n d
L IS TS

B a n k s

T ru s te e s .

SEN T

UPON

A P P L IC A TIO N

MEMBERS OF BOSTON AND NEW YORK
STOCK EXCHANGES.

R .
t

L .

D A Y

So

C O .,

4 0 W a t e r S tr e e t , Bouton,
San N n u Stre et, N e w Y o r k .

P U B L IC

B A N K

bo n d s—

5s, . ........ $ 2 6 ,5 0 0 ... .D ec. 1, 1911

T A X FREE. -A ll bonds are exem pt from taxation by the city.

N e w Y o r k C i t y G o l d ......................................... 3 ^ s
C o l u m b u s . O h i o , F i r e D e p a r t m e n t .......... 4s
C o l u m b u s , O h i o . P a r k .......................... »......... 5a
T o l e d o , O h i o , S c h o o l ......................................... 4s
S p r i n g f i e l d , O h i o , S c h o o l ................................5s
M a r i e t t a , O h i o , S t r e e t I m p r o v e m e n t — 6s
De fi au ce , O h i o , R e f u n d i n g ............................ 5s
H a m i l t o n C o u n t y , O h i o , B r i d g e .................4 s
C o r s i c a n a , T e x a s , S e w e r ............................... 5s
C h i c a g o . I I I . , S a n i t a r y D i s t ...........................4 ^ 8
A s to ria , O re., W a t e r , G o l d —
...............5 s
T e r r e H a u t e , l n d . « F u n d i n g ........................ I s
.1 e f l e r s o n v l l l e , I m l . , R e f u n d i n g ................. 5s
F o r s y t h C o u n t y . N . C. » C o u r t H o u s e ....... 6s
C h a r l e v o i x , M i d i . . R e f u n d i n g .................... 5s
I r o n . M o u n t a i n , M i c h . . S c h o o l, G o l d .. . . 6 s
C i n c i n n a t i , O h i o ................... 6s, 7s a n d 7 3 - 1 Os
M e d i n a . N . Y . , S c h o o l ......................................4s
E l m i r a , X . Y . , S c h o o l ........................................4s

C i t y o f B o s t o n , M a s s . , K e g ............................ 3 ^
C i t y of C l e v e l a n d . O h i o , C o u p , o r R e g . . . 4 s
C ity of B iiig Iin m p to n ,N .Y .,C o u p . or R e g .4 s
C i t y o f N e w B e d f o r d , M a s s . , R e g . ............. 4 s
M i d d l e s e x C o u n t y , M a s s . , C o u p . ...............4 s
A fu ll d e s c rip tio n o f e ith e r o f th e s e issu es, w it h '
p rices, w ill be m ailed on ap p lic a tio n .

E. H. R O L L IN S
19

M IL K

K le y b o lte

&

A d a m s

C IN C IN N A T I.

&

C o m p a n y ,

BANKERS,
DEALERS TN

C o .,

4 ! W a n “s t « r i a ce’ } N E W Y O R K .

T R U S T

<& S O N S ,

STR EET.

B O S T O N ................................................... M A S S

FOR S A LE B Y

R u d o l p h

A N D

s t o c k in g

Whon Due.

I N V E S T M E N T S .

S E C U R IT IE S

SUITABLE FOR
SA V IN G S

LOANS—
Corcoran L oan-

68, .......$ 1 ,1 9 7 .due, n ot presented
Interest is payable by the City
Treasurer and in New Y ork.
Bonded debt Apr. 1, ’97 .$691,595
Floating d e b t ................... 278,589
Total debt Apr. 1, 1897 . 970,184
Total valuation 1896.$20,413,000
Assessm ent about 4-5 act. value.
Total tax rate (per $ 1 ,0 0 0 )___ $11.
Population in 1890 w as___3 0 ,3 l l
Population in 1880 w a s___22,254
Population in 1897 (est.)...40,654

I N V E S T M E N T S .

FOR

N e w

When Due.

M is c e l l a n e o u s L o a n s —

6s, .......... $3 ,321........ .J a n .1 ,1 899
6s, . ...... . 3 4 ,132....... .A p r. 1, 1899
6 s , . ........ 13,500........ .Jan. 1, 1900
6s, . ......., 3 5 ,000........ .Jan. 1, 1901
6s, . ........ 15,400........ .F eb. 1, 1902
6s, . ........ 1,545....... .F eb. 1, 1901
R e f u n d in g B o n d s —
4s, .......... $ 9 6 .0 0 0 ... .Feb. 1, 1910
4s, . ........ 105,' 0 0 ... .Apr. 1, 1916
4s, . ........ 12 u.000— .Jan. 1, 1917
4s. . ........ 2 4 0 .0 0 0 ... .Feb. 1 .1 917

We subjoin reports as to municipal debts received since
the last publication of our S t a t e a n d C i t y S u p p l e m e n t .
Some of these reports are wholly new and others cover items
of information additional to those given in tne S u p p l e m e n t
and of interest to investors.
Eggex County, New Jersey.—Ed. L. Conklin, Auditor. In
the debt statement of this couaty. publisbel in the April
number of our S t a t e a n d C i t y S u p p l e m e n t , the §1,500,000
issue of 4 percent park bonds put out last year was inad-

I N V E S T M E N T

O.

B O N D S ,

Members o f Boston Stock Exchange.

FUNDS.

No. 7 Congress and 31 State Streets,
LISTS HAILED ON APPLICATION
F a r s o n ,

L e a c h

&

E

d w

a r d

C .

J o n e s

C o .

B O S T O N .

C o .,
H AV E REM OVED TO

C H IC A G O .
115 D e a rb o rn St,

NEW YORK,
k W a ll St
Z

1
C h i c a g o D r a i n a g e ................................ ............. 4HJ*
D e e M o i n e n . I n . ( S c h o o l ) ............................... 4H*
M u a k e g o n , M i c h ............................................... 5n
S o u t h O m a h a , N e b r a n k a ............................... 7 «
A s h l a n d , W i n . ( G o l d ) . . . .................................5n
W e i t C h i c a g o S t . R R . ( T u n n e l ) .................. da
F irs t Mortgage.
FOR SALE

M A S O N ,

(C O R .

&

SA FE

&

C i t y

a n d

FA U

H A R R I S

31 NASSAU

L IS T

C o u n t y

NEW

&

C O .,

STREET,

Y O R K .

B o n d s .
&

P R IO R ,

W

15 C O N G R E S S S T R E E T , - B O S T O N .
10 9 S u p e rio r Street. C le ve la n d O.

.

B oston .

STATE CITY & RAILROAD BOJNDn

N .

C o le r

&

C o . ,

B A N K E R S.

C o .,
N .

B r o w n
BANKERS

6A C e d a r Street,

S tre e t,

.

BAN K ERS,

IN V E S T M E N T S .

B A N K E R S,
Congress

W

W A L L .)

D IE T Z , D E N I S O N

J a m e s

•6

N .

C O .,

,
171 L a M al le H i..
C H IC A G O .

M e r r it t

S T R E E T

( N e w Y o r k , Chicago , Boston),

SEND

b a n k k r h

B lo d g e t ,

A S S A U

BY

LEWIS

31 State S t..
BOSTON.

N

-

-

6c

C o . ,

NEW

YORK

MUNICIPAL, COUNTY, SCHOOL AND
TOW NSHIP BONDS

B O U G H T

AND

SOLD.

M

U N I C I P A L

34

B O N D S .

N A S S A U ST R E E T .

THE

918

C H R O N IC L E .

rvoL . LXIV,

H X is c c lL w e c u s ,

In su ra n ce.

m is c e lla n e o u s .

1850.

W H A N to & S C f l L E S I N G E B

T h e

NEW

YOKE.

N e w
M

&

il l s

Y o r k

L ife

B l a n c h a r d ,

.

b a n k e r s

M U N IC IP A L

B O N D S

I n s u r a n c e

C o m p a n y .

BOUGHT AND SOLD.
D ev on u h lre
10

S ta te

E .

C .

S tre e t,

B u ild in g ,
B oston ,

M ass,

MUNICIPAL BONDS.
S T A N W O O D

S ta te s

L ife

IN T H E

B O N D S .
H TttEKT,

U n ite d

In su ra n ce C o .

M U N I C I P A L

WALL

1807.

So

C o .

JANU ARY

1,

1897:

C IT Y
OF NEW Y O R K .
A l l p o l i c i e s n o w I nk t ie d b y t b i # C o m p a n y
c o n t a in t b e f o l lo w i n g c la u s e # :
“ A f t e r o n e y e a r f r o m t h e d a t e d l# # ue»
th e li a b ili t y o f th e C o m p a n y u n d e r th is
p o l i c y H h a l! n o t b e d is p u t e d .* *
“ T h is
p o lic y
c o n ta in s
no
r e s tr ic tio n
w h a te v e r up on th e
I n s u r e d , In r e s p e c t,
e i t h e r o f t r a v e l , r e s i d e n c e o r o c c u p a tio n .* *
A ll D e a th C la im s p a id W I T H O U T D I S ­
C O U N T a s soon a s s a tis fa c to r y p ro o fs h a v e
b een re c e iv e d .

A c tiv e a n d S u ccessfu l A g en ts, w is h in g fro
r e p r e s e n t th is C om p a n y, m a y c o m m u n i­
ca te w ith the ^ resid en t, at the Horne
Office, 2 6 1 B r o a d w a y , N ew Y ork.
OFFICERS;
G E O R G E I I . B U R F O R D .....................P r e s i d e n t
G P . F R A L E I G H ..................... ..................... .. S ec reta ry
A . W H E E L W R I G H T ................ . A s s i s t a n t S e c r e t a r y
W I L L I A M T . S T A N D K N ..................................... A c t u a r y
A R T H U R C. P E R R Y ................
..C a s h ie r
J O H N P . M U N N .....................................M ed ical D ire c to r
FINANCE COMMITTEE;
G E O . G . W I L L I A M S . . . . . . . . P r e s . C b e m .N a t . B a n k
J O H N J . T U C K E R ........
B u ild e r
E. H . P E R K I N S . J r ., P re s . Im p , & T r a d e r s ’ N a t. B k
J A M E S R . P L U M ................
. .. . L e a t h e r

BAN K ERS,
121 D e v o n s h i r e

Street,

BOSTON.
IJtaT S SEN T UPON A P P l.I C A T I O N .

W .

J.

H ayes

&

S on s,

J .

ASSETS,

-

•

§18",176,4:05 86

LIABILITIES,

■

-

-

$26,681,996 98

Street Hallway Bonds, and cither high-grade lc vestmenta.
BOSTON, MA8S.,
C lev ela n d , O h io,
TSacchange Place.
3 1 1 -3 1 3 S u p e r io r S i

INCOME,

-

-

$39,139,558 00

Cable Address. " E E N X E T H . "

M O R T G A G E

L O A N S

-

U N IT E D

$121,564,987 00

C o .,

SAIL D U C K

AND A L L KIN DS OF
C OTTON C A N V A S F E L T IN G D U CK
C A R C O V E R IN G B A G G IN G ,
R A V E N S D U CK , S A IL T W IN E , &C„
P O P E “ A W N I N G '1 S T R I P E S .
AGENT

*New Insurance Paid
for in 1896

&

M A N U F A C T U R E R A N D D E A L E R IN

COTTON

B A N K E R S ,

D E A L E R S IN M U N I C I P A L B O N D S ,

T u r n e r ,

SUCCESSOR TO
B r in e k e r lio ll, T u r n e r

160,494,408 88

SURPLUS,

S p e n c e r

S T A T E S B U N T IN G

CO.

A fu ll su p p ly , a ll W id th s an d C olo rs, a lw a y s in
s to c k .

1 0 0 D u a n e Stre et. N e w Y o r k .

*Paid for Insurance
in Force

-

■

$826,816,64S 00

e /b . c i l i L . / C ^ e 't x S C o

T E X A S .
l nt *r e#i 7 P e r C eni F*e*.
NO COMMISSIONS cnamed borrower or lender
until loans have proven pood

F R A N C IS S M I T H A C O .,
SAN A N T O N IO , T E X A S .
Loan Distance Telephone.
“ i c < Br o a d .

Cable A ddress
“ R itdk &a t i o n , n . y .

BAN K BBS,
*N o p olicy or sum o f Insurance is included
in this statem ent o f n ew Business or insurance
i n force e x ce p t whore the first prem ium there­
fo r , as provided in the contract, has been paid
to the C om pany in cash.

(8

W A L L

S T H K K T ,

S E W

Y O R K .

E s ta b lis h e d 1 S B 3 .
M EM BERS OF NEW YO R K STOCK SXCH AN G
A ilo w in t e r e s t n d ep o sits s u b je c t t o s ig h t c h o c * .
B uy an d sell o n com m ission s to c k s a n d b o n d , . i t h e r
(or cash or o n m arg in , a n d deal in

Investment; Securities.
H . J . Mo r s e . C n A a. D, Ma r v i n . W , m . K id d e r .

Haight So Freese.

SECURE BANK VAULTS

B a n k e r s & C o m m is s io n S t o c k B r o k e r s ,
3 3 It R O A D W A Y , N E W Y O R K .
S3 S T A T E S T R E E T . B O ST O N .
40*3 W A I,NUT S T .. P H I L A D E L P H I A .

ST O C K S. B O N D S A X D G R A IN
Bought and Sold at 1-10 Commission.
MpeclftJ a tten tion given to o u t -o f-to w *
Recount#.
TRANSACT A GENERAL BANKING AND
STOCK EXCHANGE BUSINESS.
IN V E S T M E N T B O N D S.
Account* o f Banks. Bankers and Individuals
revived on favorable terras.
NATIONAL BANK REFERENCES FURNISHED
U P T O WN O F F IC E , 1 1 3 * B R O A D W A Y ,
WRD r e#n for our - 400-PACE MANUAL,” IIla#trat4Ml with railroad maps, giving complete in*
formation of all RAILROAD ami INDUSTRIAL
including highest and lowest prices for a
mrim of l " i o mp years o f Stocks. Bonds, Grain and
vOtton, and nl**» the methods o f buying and selling
m margin.

J O H N

A .

M c C A L L ,

P re sid e n t.

Round and Fiat Bars and C ole Plates and Angles
Cannot be ia v r e a ^ u f8© / Brill™* and positively
Burglar P r o o f.

H E N R Y

T U C K ,

F R A N K L IN

H ALL,

A c c o u n t a n t
w s

K

I S I s S ^ e 0* '
b

w il le d .

BOSTON,

M ASS.

— the utmost tire and efficiency.
-‘h

THE WALL
Oi vMt**-j T n
* * » » .» .
iiu .

8TK E K T J O U R N A L
'gitjren .tncks.mJ *> 1 ' *
01
« > < <i.. <t n «.«d si. n >
.

FOB

* A LF,.

C H R O M t ’l.E
VOLUM ES.
WILLIAM B. DA NA COMPANY, ? « « Pine St., N.Y,

STEEL

W ORKS,

Kent Ave., Keap & Hooper Sts.
Sole Maa’f ’ers in the U. S. B R O O K U lfN ,!N *jY *
E n g in e e r s :

Archibald H. Welch, 2d Vice-Pres’t.

Edward N. Gibbs, Treasurer.
Rufus W. Weeks, Actuary.

K iim b u t io iu «n d In vM tin tioa*

CHROME

V ic e -P r e s id e n t.

George W. Perkins, 3d Vice-Pres’t.
W M .

GENUINE
WELDED CHROME STEEL AND IRON

Hugh S. Thompson, Comptroller.

F .

J .

C O N S U L T I N G

P i c a r d ,
E N C I N E E B

C O K U M B IT S ,

O H IO .

Examinations and Reports Made f o r
Bankers and Investors of Railroad, Coal
Mining, Oil and Electric PropertiesUEFWRKNCU9 SENT.

Charles C. Whitney, Secretary.
Jos.

O .

O sg ood ,

M. AM. SOC. C. U„
1*0 B R O A D W A Y , NEW Y O R K .

REPORTS ON INVESTMENT PROPERTIED
Railroad Location and Construction.