The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
..
.
.
:
1
,
/M
JHE
AND
W xmitk
HUNT'S MERCHANTS' MAGAZINE,
aKPRESBNTINQ THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE
UNITED STATB3
_ psntered aoaording to Act of Consrca.. In the year 1801. by Wm. B. pl^y'dTcaTn iU:VmZ"oT^t.:ub^^
p"?
V^^
^(^n^. W«h^^n"
SATURDAY. MAY
»^
CLEARING HOUSE RETURNS.
if,
1891.
No.
For the week ending May 2 the exhibit
is
,'
1.360
as follows
The followiuK statement shows the bonk clearings for the
to-day (May 9), made up according to explanations contained in Chronicle of October 26, 1889.
week ending
TTmIi
Oliakihos.
Ending Hav
1891.
Raw
Tork.
(8^4,498,803
S3,J>67,096
miadelpbi*.
S0,100,U00
11,039,494
89,820,000
19,327,SU5
8,42S,23d
,
Valttmore
Ohloaco
,
Bt.IjODla
•w Orleans
PtOmt.
-19-3
-7-0
+18-1
-6-a
+50
-6-4
200,608,911
• 1,087,831,261
221,238,233
-S-6
-9-3
$1,827,777,147
tl.309,067,496
140,100,102
Total all dues, 6 days
AUeltles, Iday
tl, 027,168,236
Total all 01 ties for week...
and since Jan.
clearings foi Apr,
April.
is
lOtton..
iOralm
(Pstrobiim
-6
8,021,78V
(887,068,1il4
IStotlu...
-8-2
«680,01l,194
89,237.076
62,044,0S6
11,865,404
76,098.000
20,690,442
$947,928,ge3
139,002,411
Baren oltlea, 5 days
Other oltlw, Sd^ys
The exhibit of
New Tork
Solsio/—
9.
1800.
I'roTldenoe..
Ilanford
,New Haven..
SprlnKfleld...
Woroester....
Portland
liowell
New Bedford
-rOl
Total
Bafflalo
as follows
Washington
Wilmington, Del
Synuinse.
Roohester*.
Four Months.
«.S»8,877,791 2,923.681.166
Boston
ProTldence...
Bartford
New HaTOD..
SprlnKfleld
.
4IVi,OgO.S05
23.8011.100
»,l.«.,tflS
5.71»,7>il
6.sa',7i~<
..
Worcester
ToUl Middle
10,603,520,778 11,842,382,712 -I0-;
486,175.458 -1-7
SO.RJK.fOO +15-6
8,5U8.2a8
5,410,349
5,2«0.24'
1,551,771,213
9S,aOf.;(00
3;.0h3.514
22,400.144
-rl-Sl
2o,t)02.»»5
19.Sl.0,34«
l,686,815.;27l -ij-3
86,424,000
+S-1
30, 170,33^1 +2-5
21,761,719:
21,21 1,915
lf.76»,a54l +1-/0
1».297,334 +59
11.704.99); +8-»
Portland
Lowell
New BedXord.
6.17«,053
5.488. UU
S.oOu,Bl«
2.03e.U85
7,894,663
479,919,187
4*0,640,627
-0-8
1,786,222,018
312.507,748 -10-6
70,442,711 -U-l
«0,3t3,836 —T*
27,590,334 +3-4
8,»41.90«
8.716.605 -II
8,41a,a«6 +13-6
1,092.292.031
220,857,583
&>1.829,0:-4
118,(184,863
28.468,616
14.275,235
14.073,811
1
PltUburg
«l.t<U«.14U
Baltimore....
BaffAlo
So.8He>,Od.
l»,Sill.«22
Wsahlngton.
Wilmington
7,4»4.7Si
Syracaae.
Sjmi.iaa
3.a74,u:f;
. .
Total Middle
4,737,030
4.^06.605 +14-21
3.203,44a +9-3
1,859.381 t9-7
-W8
-9-3
+7-9
+11-2
12,4>18,.J21,+13-2
14.246.003
-89
1,710,631.2
1,877,578,760
l.l77,4l9,082'+12-2
2O8.743.860i f4'4
5<>.18j,«0U
47,61".100
1-8-0
7,832.55(1
e,42!l,421 +l»-7,
32.17o.8s6
35,357.rtl3|
30.937.'. 80
14.447,832
24,358, 9o;l
12,070,77t<
+ 19-7
1,933.819.715
1,761,498,300
+9 8
20.796.303
13,!»8.ilOU
«0.7>.«,;i!«
li».44x,lnS
e.iw.ona
Peoria
Srand Rapids.
7,69 .378
3,190,311
Tot.M.Weat.
BOa.aiW.'JSO
3,214,604
-o-ej
476,757,908
+6-6
j
San Praneiaoo.
Portland
gaauie
Taooma
Los Angeles.
7S,648,542
4,206.081
S.7ln.332
2.VSi,«39
+7-9
7,n8ajaM +4-7
4,734,045 -11-2
70,066,275
92.687,«Hl! -a-5
8«.BS:i.)lb rlun
76,5<ki,.17.'
I
-r«'5
-t-0-4
-9-0
+270
St.
8,302,950 4-l2'5
2,582,080 ^ls-5
i7,U08.783
5,382.623
12,u69.4a3
aB0,720.823 +141
26,524 .SUV +17-9
16,64u,»2a
11,768,440 +30-7
10,965,783 + 101
285,961.592
31.270.594
862,801,l«)
316,620,468 +14-5
156,213,32">
17,409,6!-0
21,229,849
22,]M9,78<
7,880,078
6,176,330
3,786.543 -Lai-6
8-8
1. 500.208
+-8-8
14S.0OI,?8i
93.27»,76«
64,1109 42>
67,629,ro2
71,814,788
26.960.168
25,478,684
17,147,76»
12,601,033
9,162,709
8,501,438
6,7i5,907
147,103,4X8
112,820,996
-8-7
549,194,097
566.444,478
93,466.1I3«
-s-s
«3,v. a,30ll
3:i.44u,lo2
87,848,899 +18-9
38S,787,Dlb
207,631,017
U4,8a7,169
,,
'i'opeka
Tot.oth'rW.
Louis
Orleans,.
LonlsTille......
n,xo»,iHl
4,54a.897
4,U01,IH5
il,26l>,W75
2,3Wl,al5
1,642,983
9.wn.,b3
MeniphlB
...
UalTeaton
NasbTllle
Dallas
Fort Worth...
Norfolk
Chattanooga.
Birmingham..
OallH
rort Worth
liOuisTllle.
Memphis..,
Richmond.
Norfolk
138,6U«JUli-10'0
4»,840,678. -2-3
X3,4l8S34{ f.-U
20,690,832; +69-4
e,tii«.a«8
Sioux City ..
Des Moines.
Wtehita
Lincoln
Louis
New Orleans,
aee,s»i307 +0-7
lV,t)2S(,1lx
..
Richmond
+70
42,193,413 -41
2l,04S.n7M +20-8
8^,499,682
Omaha
St. Juaepta
68,591,609
40.444,496
2.\4l5jCie
le,:i 95,58%
Minneapolis..
Denver..
Uulnth
94,762.014
16.76«J^
Total Paciac
Kansas CltT„
•
Peoria
+ 16-8
1,320,478.764
217,837,250
90,402,439
95,881 ,77-,!
81,550.372
Indianapolis...
'
Indianapolis..
Grand Baplds
-7-6
lU1.6ki«.tH9,
26,a72,l>.Mi
486.359,190
Colambas
'
Ir60,l)23.2e3i
323.624,386 +7-4
52.807,250 +S-8
26,412,489 -21 a
28377,227 +13-1
29,440,869 +I-12,626,100 +5-8
CSereland
New
1*772.833
440,1188,680
M,»)K.,8S0
St.
20,130.062
<»t-.7C9,049
Chleaco
Cincinnati
Milwaukee....
Detroit-
'
Columbus....
],214.90.->,983l-10'9
257 ,00«.14a' -14-1
Philadelphia.
:
Milwaukee...,
Detroit
Cleveland....
1,879.139.1431 -1-9
279,632.392
Cincinnati....
6.9AI,218t+H0
ToUl N. ni)
•
England.
Chicago.
HtwTork.
'
New
Philadelphia
Plttaborg
Baltimore
P.O.
I
MO.)
Boston
8,31«,I>9I
-3-7
—21-8
—10-9
-12-6
+1-2
+22-6
8,420,916 -3J-6
2,569,988 —6-8
SOI0.4J7 +0-6
-8-7
+8-0
10.2 Af.uoO
lu,9>V.8l7
8.937,>8U
5,223,828
9,u<4.UU
+962
9,5o3,lll8
+1-8
8.^02,B02
3.390.0OU
4.10 '.!|60
2,090,000
5,115,096 -98-7
4,540,081 -26-3
3,07v,nA9 +331
9.B30.0OO
2,'>60,000
— sl-4
74,037.087 +26-0
-2-6
86,607,-,i3l
('hattanoo«a.
77.745.563 -l.ro
88,008,706 -12-4
80,464,144 -11-5
2S.70I,9>M -0-9
14,964.176 + 14-6
10.566.450 +1«:!
12.630.51n -27-6
9,318,711 -8-8
6.107,623
f8-9
l,exlngton....
Birmingham..
Houston*.
Waco*....
Total Southern
48.181.763
8l',226,879
47,433,288
37,613,494
17,191,183
Mew fork
Not Inclnded la
Ootslda
•
-2-9
19S,947,I«4
+60
86,831,598
—15-4
stock
19,7l9,8«6,-29-5
17,<84,a05
8.4HI.UU0
i8;,2Si.39a!+8a-2
10.0l«.S80 -13»
Sh'si
19,723,47
Val. 119038-17410
BB.,
OOTt
ll.061JI!i
8,7l",7»l -17-8
Il.ll6«,e82
I.725,42<
!i.loo,oae
-17-8
I5AI8,33W -1I-7
LexlDgtont....
7,.-*i8.»49
ToUl South.
923,664,154
219.364 ,S4k
+2-0
939,1 12.393
Stat*
8,592,947[-l4-5
Total
all
4.784.8115.66714,828.116,139
J.
931418,382
+0-9
-0-9 17,883,132.238 10~78,777,219
Total
Pet'l'm.Mla
Cotton, bis,
Grain.'
Outside N. T. I,hx«,0t7,773|l,904,534,973!
* Mot iBciadea In totals.
8
7.281 ,61 .,460
7,331, 394J07
of sales, &c., for four
months
is
as follows:
r6-9
18,9i'l,l.-3
20,68;,-<82
totals.
Our compilation
iSM.'56, 61-7
|l.83l.9ls'll6-3
( I1«37<W«70
(ia8,»M!llO| |l2t,479.7i0
ii.***.!*!
iLivtas-i
&055.7* f'-iS-if}*
i<.2(M.0U
S:aa«,l«'
|I,I6W1«6«I yr*
'MH«.71^»IMllUH62«'<T4a
[
I06«434»7«! 95-7
197,612,005
79-0
d8s.«.S4i
|
ia.«;o.ouo
..
»au«7,8W 78 I-Scl
7.877.3)0
(o'l7;S.««.317|ToOl.3«
771.1162. 120
-0-7
Total Talne!
iiaSlw^S'
{
i»ry
it«.303S493BI
74.9»M>10
IWS
•TO
JHU^MO •ftV4a
3,071
706,O41.*3O |il3,07l
2M|
2M! 7*)t«.
ta.34i9'>»7M
.
THE CHRONICLR
694
[Vol. LU.
it is well enough to keep in mind that if
we have large crops and Europe wants them, at good
prices, a close money market will compal their shipment even in spite of speculative efforts to hold them
back, and thereby we should secure the return of the
gold we are now losing, if we need it.
As to the currency which the Secretary of the Treasury will be able
to furnish the market for crop purposes, the amount is
We made some sngs;e3tion3 bearing on
still uncertain.
that subject last week, and this week also in a subsequent article we refer to kindred matters. For further
particular,
THE FINANCIAL SITUATION.
and circumstances afEecting tlie markets
last reported,
this -week have been much the same as
the large gold
but the overpowering influence has been
The
facts
As a new source of confidence in railway
we may mention the meeting in this city
exports.
property,
of the advisory board
of the Western Traffic Assonoteworthy meeting signalized by acts
-ciation, a
showing unexpected vigor and vitality in that organilasting
zation, and therefore promising profitable and
Other than this have information with referencs to Mr. Foster's resources,
results to the railway interest.
been, as last week, the favorable crop reports and pros- we have prepared the following statement, from the
pective railroad earnings imparting strength to stock first of May Treasury reports, which shows his currency
while gold exports and European selling of holdings.
securities have been the chief occurrences first check-
values,
1891.
>
April 1.
May 1.
$148,118,149 $138,742,211
6,534,755
4,414,991
5,266,300
6,809,120
1,505,818
496,398
3,415,237
4,055,760
20.488,094
20,563.406
.
HoMingg by Treasurer in Sub-Treasury.
ing the advancing tendency of the market and latterly Net KOld cola and buUion
Set Bllrer coin and bunion*
giving it a downward impulse.
U. 8. Treasury notes, act July
uneasiness has likewise been felt on account of htgaX tender notes
Some
the financial outlook at London and on the Continent. National bank notes
Fractional sUver
Indeed,absolute confidence seems to be a condition which
just at present exists nowhere abroad.
monetary
centre
great
sensitiveness
At
14, 1890.
.
prevails
Total GoTOrnm't cash In sub-treasury. $185,326,353
24,111,849
Net amount In national banks
$175,086,916
21,230,172
Total cash in banks and sub-treasuries $209,438,002
the world's
$199,366,088
with
.
respect to the
Bank
of England's short supply of gold
*
Does not Include trade dollar bullion.
for hanging over that
it
It will be seen f roni the above, first, that the Treasurer
engagements which the Argentine situainstitution are
has lost during the past month about 10 million doltion, growing less satisfactory rather than better daily,
An important fact with respect
lars net of his cash.
makes more onerous, and consequently makes it more to that loss is that it was not the result of ordinary disdifficult for the Bank to cope with the surrounding
bursements, but arose almost wholly from payments
Then at Berlin and Paris there is the
Bitnation.
made under the act of March 2, 1891, to reimburse the
-and the possible drafts upon
feverish desire
;
shown to increase their stocks of gold, sug-
gesting divers reasons for the desire (the
always being more disturbing than the
unknown
reality),
some political, some financial, the latter thought arising chiefly out of rumors of weakness in Paris
banking institutions. Finally we have the curious
shows a disposition to withdraw his
hoards of the yellow metal, a nervous tremble is appar«nt at each financial centre.
It will perhaps be useful to note in passing that a
scarcity of gold is really at the bottom of this general
If we could double the amount of
state of unrest.
the international money of Europe to-morrow, how
large a part of all these troubles would cease. And
yet would not bimetallism, if adopted by the world, fill
the requirement and supply the want ? We do not
like to lose our stock of the yellow metal any more
than other countries do, for we have so large a domain
that there is none to spare ; yet it is comforting to
know that we are sending the medicine Europe needs,
and in the end our act cannot but react favorably on
ourselves it it stops short of weakening our monetary
arrangements. The outflow, however, must have a
little educational influence on Congressman-elect Simpson of Kansas and others, who, like him, look for
inflation through silver dollar coinage.
We buy
million ounces of silver a month, and we send out
^
from 3
to 10 million dollars, or thereabouts, of
week.
We
To Minnesota
North Carolina..
2,213,330 86
377,836 43
Ohio
Tennessee
1,332,02593
392,012 07
$156,272
208,246
22,189
70,772
956,760
719,144
California
Colorado
Delaware
Illinois
Indiana
Kansas
Maine
always solicitous by reason ot her military
situation, now appears to hold a call on European
gold reserves so complete that when that Government's
$86,923 72
646,958 23
181,891 02
65
89
96
02
69
03
60,93183
To Arkansas
-
Powers
officer
of the direct tax
These payments in
under act of August 5, 1861.
April reached $9,383,636 80, and were as follows.
fact developed that Russia, in addition to keeping the
financial
and Territories the amount
States
Mlssouil
New Hampshire.
New Jersey
New York
357.702 10
696,107 88
420,865 66
Massachusetts...
Michigan
It is a satifaction
to
Total
know
382,61483
$9,282,636 80
that the requirements of
the act referred to have been so largely complied with.
This week the amount due Pennsylvania ($1,654,711)
has also been settled, so that but comparatively little
remains to be disbursed on that account. Another
fact
which some overlook
desires to relieve the
ments
out
is
that the Secretary,
money market, must make
if
ho
his pay-
We
the currency in sub-treasuries.
made that to pay the 4^
of
notice the suggestion has been
(if he redeems them) the funds will be taken
from the depositary banks. That conclusion is not by any
means authorized, nor do we think that course probable.
and without adopting the
Altogether, therefore,
extreme interpretation of the Secretary's powers which
has been proposed, we see no reason at present for
thinking that Government disbursements may not be
liberal during the fall months.
As the Treasury department did not disburse last
week and has not disbursed this week more than
per cents
a
trifle
full
in
amount
our banks.
excess
of
The
the
of
the
gold
current
the
on
has
Clearing House in-
exports
reserves of the
receipts,
fallen
gold a stitutions have, however, been replenished in conhave some one explain how siderable measure by the inflow of currency from the
long that process must be continued to bring iu a cur- interior. Yet gold exports liavo become so very large
rency reign of plenty.
now that this source of supply has by no means
These gold exports are at the moment felt to be made good the loss by reason of the exports of
chiefly important to us because of their bearing on our the
and as a consequence the
yellow
metal,
money market the coming fall. iThis thought opens a money market has shown a hardening tendency.
wide question. But whatever be the effect in that This has been clearly observable in the call loan
would
like to
Mat
THE CHBONICLR.
9. 1881.J
H95
and 4 89^ to 4 90 for right. TMt«rd«j t,l)er*
were further reductions all around, tho closing ratei
being 4 S^&i 8r>i for GO day bills and 4 89(34 80^
branch of the market, tho extremes, so far as represented by bankers' balances, being 6 and 3 per cent,
tho average being fully 4 per cent, at which renewals
have been made. This rate has also been the minimum
of^banks and trust companies. Time money has likewise
been firmer in consequence of a bettor demand, tho
supply until to-day remaining unchanged, for although
some lenders had withdrawn from the market others
had come in ; but to-day tho market was appreciably
for long
from four to six months on collateral classed as ordinary, and there is a good demand for loans on a low
grade of security. In commercial paper tho inquiry
was good early in the week for really first-class names,
&
demand. Tho rates for actual business were 4 84^
4 84J for 60 days, 4 88i to 4 88 J for sight, 4 88f
to 4 89 for cable transfers, 4 83^ to 4 832 for prime
and 4 83 to 4 83J for documentary commeicial bills.
The steamers sailing on Tuesday carried $700,000 gold
shipped by Lazard Freres to Franco, of which $530,000
higher. Rates are now 5 per cent for sixty to ninety days, was taken from the Sub-Treasury. Wednesday's steamer
5J per cent for three to four months, and 6J to 6 per took $500,000 shipped by A. Belmont & Co., $1,000,000
cent for four, five and six months on good collateral. byi Baring, Magoun & Co., $500,000 by Ueidelbacb,
A loan has been made during tho week at 6 per cent for Ickelheimer & Co., and $500,000 by L. Von Hoffmjinn
but later this demand subsided, while the supply of
these names was lighter, though there were comparatively abundant offerings of ordinary paper, which did
not find ready sale. Rates are 5 to 5^ per cent for
sixty to ninety day endorsed
bills
receivable; 5^ to 6
months commision house names, and 6 to 7
good single names having from four to six months
for four
for
to run.
The Bank
stood
since
England
of
on Thursday
rate of discount
was advanced
it had
4 per cent from 3i, at which
This action, by
April IC.
to
would probably have been worthy of
little
itself,
more than
paasing notice, for the requirements of the Scotch
banks are large at this season, and of late the Bank of
England has been meeting a demand for Portugal.
Bat the chief cause for the advance is presumed
to be the fact that the Rothschilds of Paris have
Russian
government
that
it
is
notified
the
inadvisable at present to float the Russian refunding
l,pan of about $95,000,000, which notice has induced
the Russian Finance Minister to prepare to withdraw
from the chief European centres, including London,
some of the gold on deposit at those points belonging
In consequence of this situation
to that government.
the Bank of England governors on Wednesday offered
to pay a premium of half a penny per ounce for American gold, and on Thursday advanced the Bank rate as
stated. Foreign bankers say that the Bank is determined
to increase its stock of gold, and as the metal cannot bi;
readily obtained from Paris or Berlin, it will be
procured from New York. The cable reports 60 to
90-day bank
bills in
London
the open market rate
fort 3 per cent.
is 3,
;
at Paris
to
On Thursday
Co.
Magoun &
$500,000 were withdrawn by
byKuhn, Loch Si
and on Friday $500,000 were withdrawn by A.
Belmont & Co., $1,900,000 by Lazard Freres, $500,000
by L. Von Hoffman & Co., and $100,000" more by
Baring, Magoun & Co.
all for shipment to-day.
There are indications of a little more activity in
certain branches of business, though on the whole the
state of things still remains very quiet.
In the iron
trade an increased inquiry is noted and also a firmer
tone, and the hope is entertained that the corner has at
last been turned, and that henceforth the tendency will
bo towards improvement. In the anthracite eoal trade,
also, conditions have changed for the better.
As bearing on trade in general, we have this week prepared
our statement of bank clearings for the month of April^
and it is an agreeable surprise to find that the comparison with the year preceding is much better tian
expected in fact the best of any month since last
November, the falling off being less than one p^r
Nor must it be supposed that last year in April
cent.
the result was unfavorable, so that comparison is Tfith
poor results
on the contrary, the exhibit then wa^
Baring,
Co. and $500,000
Co.,
—
—
;
exceptionally good, there being 9-8 per cent gain with
New York included and 15-9 per cent gain without Now
Of
York.
course, speculation on our Stock
the present year was
and
had
this
its
much more
effect
Exchange
active than last year,
in enlarging tho clearings at
But even outside of New York the falling
off in clearings is hardly more than nominal, being 0-8
per Cent.
There was a partial holiday in April last
year, which came in the month previous this year
v^
mean Good Friday and it is possible also that the
speculation in grain and produce at Western centroi^
New
York.
—
—
had some influence
allowing for
all
in
this the
swelling tho clearings, bnt
statement must yet be con-
and at Frank- sidered a remarkably good one.
MOirTBI.T OLUKIH<M.
England lost £540,000
This, as we are advised by
Otar ttti OvttiiU y«%» Tor^
OI<artn0f. Ibtol AIL
at Berlin 3,
The Bank
bullion during the week.
at 3^ per cent
for
of
i
was due to the export of £111,000
wholly to Portugal and Malta, to shipments of £528,000 to the interior of Great Britain, and to an iinport
from Australia, &o., of £99,000. The Bank of Germany, since the last report, has lost about £322,000
gold, and the Bank of France during the week gained
£584,000 of the same metal.
Our foreign exchange market was steady bnt dull
until Wednesday, when, without any change in nominal
rates, the market for actual business became easier in
consequence of the Bank of England offering to pay a
premium of half a penny per ounce for American gold
special cable to us,
coin in order to attract the metal.
day
Brown
Brothers,
the
Bank
On
the following
of British
North
188».
Jnl7
Aaihue.
<,M2.802.8»1
i.7«T,13S.B12
..
'
P.Ot
jsao.
KOb
+W0
I,B34.t78.S')0
1.7%.148,StO ,+u-»
l,7TMM.ttt
+8-7
«.7M.«73,8n M484SS.778
i.5»,«7&,'iii
Vu-r
i2KK!!aif?!!r»Z!*fltti!fi
8<^qur... U,tM,1.00,US U,101.3M.lO4
5.Me^9is4u
6.5«0.;i63,W8
«.178.WS,«S3
-tf4| l.VM.lU.ObS
O^bar.... 8,7«,447,9ir
ItoVanbar.
QMtatxr..
6.S13.831.n3l 5,0*0.739,800
«.7y!8(W.«(io »,ooa.»u4M
l.SSl,«01,««£
+n-*i
4Ul qoar.. U^kS,«78,7M
laoi.
1800.
1800.
».<£«,««»,•<•
-«-o l,gM;3M,I70 i.a8i.oi«.aMt -fo^
4,U»,790,a«8
Jwinwr...
-Ui
Marcb
4.«10,i&SlM
l,7«A<SllM<
UC
U.9(B.«atJI0
B,3M.W3.«m
qiutr..
April.
Wo have
'
«.MS.1III.IIM
-Oil
tiWt.OlT.TTI
1.817,
l.B0»,M(.8T»l
—»S
stated that stock sales tho present year were
America and the Bank of Montreal reduced their much heavier than a year ago. Onr compilation showt
nominal rates half a cent per pound sterling, and the that 7,183,818 shares were sold on the New York Stock
market closed weak on that day at 4 86^ to 4 8(3 Exchange in A^ril, 1891, against only 5,08«,477 shares
.
THE CHRONICLE.
696
[Vol. LII.
annex our usual comparative sum- agencies for the conduct of competitive traffic, was also
hopeful in its nature. Still, under the continued gold
mary
shipments prices have yielded stubbornly at first, but
&U.B8 OP STOOKS AT THB HBW TOBK STOCK BXOHANOE.
with greater ease the last few days. The Lake Shore
1889.
1890.
and the Michigan Central submitted their annual
Valuu.
yaiua.
Number
Vonth. Ifwmber
of Shara.
reports this week, but these had no effect on prices, as
Actual.
Par.
of Sharu
Actual.
Par.
the results for the year had been pretty accurately foret
*
t
528,691,675 805,231,592
176,583,444 6,628,483
276,779,236
JulT.... 8,005,158
shadowed in the preliminary statements issued some
295,863,536
260,580.605 6,062,774 483,417,175
Aognat 4,141,605 392,072,316
626,192,626 332,811,179
311,310,475 6,642,132
488,382,890
months ago. The Norfolk & Western stockholders at
Sept.... 5,143,541
933,703,307
Sdar. 12,290,804 1.157,2S3,940J 738,474,624 16,333,389 1,633,201,375
their annual meeting this week authorized an increase
426,655,706
Oofb'r. 7,264,269 681,968,460 432,614.882 7,677,919 713,663,250
in the amount of the preferred stock of the company,
349,945,079
8,966,196 851,184,830 423,887.916 6,980,118 660,171,650
Hot..
287,021,417
and holders are offered the privilege of taking the new
Bee... 6,137,125 483,269,100 266,817,234 5,423,616 473,891,125
We
in April, 1890
—
.
Mhqr
21,867,580 2,016,422,380 1,122,320,032 19,981,653 1,837,726,026 1,063.522,202
1890.
1891.
Jsn...
6,618,789
640,138,550
268,489,862
6,363,019
546,416,800
315,979,202
Feb....
3,275,894
818.304,626
W5.663,847
5,199,190
311,174,818
8.646,978
348,087,315
195,297,053
4,497,053
472,192,000
383,144,125
639,450,762 16,049,862 1,401,752.935
861,561.663
466,465,200
stock at 52^.
The
made up from returns colshows the week's receipts and shipments
of currency and gold by the New York banks.
following statement,
304,199,207
March.
Utqr
18,641,661 1,206,630,620
7,183,818
April...
699,806,920
422.988,510
5,082,477
234,407,943
It will be observed that the market value of the sales
in the month this year was about 423 million dollars,
against about 304 million dollars in 1890.
It is gratifying to find from the annual report of the
Mexican Central Railroad received
this
week that the
results of operations for the late calendar year were as
satisfactory as those for the
indeed,
ularly
—a
years preceding
which the monthly returns, issued
through the progress of the year,
The property has been
Aged from the first, and though many
made
evident.
ably
lected
by
us,
neek Ending May
Received by
8, 1891.
Ourrency.
Net Interior
Movement.
$4,201,000
900.000
Totailgold
and legal tenders.
$1,090,000 G.ala.$3,lll,000
200,000 Gain.
700,000
$S, 1 01 ,000
ehiid
$1,290,000 Oaln.$S,811.000
With the Sub-Treasury operations and gold
the result
fact,.
is
exports
as follows.
Week EnMng May
Out of
Bankf.
Into
Banhi.
8. 1891.
reg-
had
man-
SMpped by
N.T. Bank). N. Y. Banks.
Banks' Interior moTOment, as above
Snb-Treas. oper. and gold exports.
Total gold and legal tenders
Net Ohanoe <)•
Batik BolMngt.
$l,29D,000|Qaln.$3,811,000
26,400,000Xass. 6,200,000
$6,101,000
18,300,000
$24,301^,000 $26,ee0,0a0ll,03s.$2,389,000
diflBcultiBs
The following table indicates the amount of bullion
were encountered in its early career these have
been successfully surmounted, and the condition now is in the principal European banks this week, and at the
Gross earnings during the late year corresponding date last year.
very encouraging.
were fully maintained, but net earnings fell off someMay 8, 1890.
May 7, 1891.
Banks of
what as compared with the year preceding, because of
SUvtr.
Total.
Gold.
SUver.
Total.
Oold.
Still, after allowing
the enlarged expenditures made.
£
£
£
£
£
£
20,786.253
20.786,253 22.102,724
22,102,784
for the subsidy collections, the net income was more Bngland
France
50,094,000 50,109,0001100.203.000' 61.436,000,50,622,000 102,058,000
than sufficient to meet the obligatory charges for interest Qermanr •
28,314.667 14,667,333 1)3,972,000 28,217,333 14,108.667 42,326,000
Anst.-Hnn'y.
and in fact a dividend was made on the 1st consolidated Netherlands.. 6.425.000 16,569,000 21,994.000 6,609.000 18,283.000 21,792,000
4,716.000 8,797,000 10,613,000
3,889,000 6,693,000
9,482,000
.
incomes.
The
total of
the consolidated
mortgage 4s
Nat. B'Iglum'
3,040,661
1,520,333
4,661,000
2.869,000
1,429,000
4,288,000
DecemberSl, 1890, was $52,871,000. The principal event Tot.thi«week 112.549,687 88,448,666 200,998,263 114,840,057 88.239.887 203,079,784
Tot. prev. w'k 112.850,577 88.586,000 201,435,677 114,838,787 87,988.667 202,827.4»4
of the year of course was the settlement with the Mexi• The division (between gold and silver) given In our table of coin and
«an Government of the entire subsidy due the company,
bullion In the Bank of Germany and the Bank of Belgium la made from
by which the latter has been put in the possession the best estimate we are able to obtain; In neither case is it claimed to
of funds enough to retire all the $7,000,000 of Prior be accurate, as those banks make no distinotioa In their weekly returns
merely reporting the total gold and silver, bat we believe the division
Lien bonds, and yet leave a balance of about $4,400,000. we make Is a close approximation.
Of course the company will hereafter be without the Note. —We receive the foregoing results weekly by cable, and while not
•U of the date given at the head of the column, they are the returns
subsidy receipts, which have heretofore formed part of
luned nearest to that date—that Is, the latest reported figures.
the yearly income ; but, on the other hand, with the
retirement of the 17,000,000 Prior Lien bonds, a
>
saving of $350,000 per year in interest has been effectThe earnings from the road, while in part derived
ed.
from international or through
local
business,
traffic,
come
TREASURY FIGURES IN A NEW FORM.
The Treasury Department, in addition to its usual
from monthly exhibits, has this week issued an extra stateclass of ment of assets and liabilities made up by Mr. Whelp-
chiefly
the revenue from the latter
freight in 1890 having been 75-8 per cent of the entire
earnings from commercial freight.
After several weeks of rising prices on our Stock
Exchange, the tendency this week has been downward. Doubtless there have been some realizing sales
by holders who had bought at lower figures, and doubt-
Assistant Treasurer. Any original method of
presenting the financial situation of the Government
ley,
would, on account of
its
newness,
command
notice,
but this document will attract attention for the farther
reason that according to the result figured out the
Treasury on the first of May is left with nearly 213
operators for a decline exerted all the pres- million dollars excess of assets over all trust funds,
sure they could against the market, but the depressing an amount that is also stated to be equal to 53 'IS per
influence of most importance seems to have been the cent of the total Treasury current liabilities.
less also
«ontinued heavy exports of gold. The crop prospect
Looking at the facts, then, through this arrange-'
remains very satisfactory, and railroad earnings con- ment of them, the Government has an unused fund
tinue very good on the whole, though there are which on its face fully sustains Sscretary Foster's conconspicuous exceptions to the rule. The meeting tention that his
resources are more than abundant for
of the Advisory Board of the Western Traffic
all purposes, the assumption being that the results are
Association, with the dismissal of Traffic Manager
reached without encroaching upon any trust obligaLeeds of the Missouri Pacific for rate-cutting, and the tion. We give the statement in full for the inspecr
action taken looking to the establishment of
joint tion of our readers.
Hat
9,
THE GHBONIOLR
IMl.]
AMBT*.
a oaih balance against
Coln-Oold
VaSO.TTS.Oai 05
ai8.90a,a7B 00
21,686,48000
30,068,405 81
338,008 06
50,859,415 04
Standard dollan. sot ISTd
Standard doU.ira. act 1890
("raoUonal sUrer
Minor
Bulllon-Uold
Tradodolliirbfrii
Oiirronov-HiiiUMl Htate* notes
Treamirv nolos o( 1890
Natioiiiil l>uiik note*
Bllv(-r lortiilcate*
rortitloatea
Funds held by United atatea
deposltarlei
Total
cent for
ment of the Government, and
^751,160,081 38
Trust funds— Oold coTtifloates
Silver certlfloates
Cortlfloates, deposit
account— United States notes
Treasury notes, act July, 1890
Total
Nntlounl
liaiik
Oftlc.0
5 per cent redemption fund
nnioere' balances, etc
funds
OutataiidliiK ilrafts and obeokS
Mntiirpd iloht iind lut^rest
Int^rMt duo and unpaid
Unlte<l
amount.
Mor»-
BUtes notes
if
we may judge from
the past practice of Treasury officials could not, sa wa
stated last week, be kept down on the average more
9166,100,000 00
316,242.857 00
1 4,000.000 00
41,731.20000
than eight million dollars; of course, too, the larger
current disbursements in the coming fiscal year must
$538,174.056 00
ci;rrf.nt liabilities.
DioburMuK
in the full
the law ahonld not bo modified so as to leave the monay
with the banks which own it and are entitled to it,
and whore it can be of use to commeroe.
Ttte nest
14,40»,821 61
4,710,01000 item is disbursing officers' balances,
an item which ia
4,035,759 90
8.309.417 00 made up of many sm^ll balances covering
the moneya
37,800,200 00
20,540,449 44 credited to and chocked against daily by every
depart-
U4BILITIU.
Foot
it
Government doea not need the whole 5 par
the work it ia doing, there is no resaon whj
over, if the
440.35343
33,142,043 74
5,011,137 70
Bllver. act IH78
lllvor. art U:iM)
Oold
697
make
needful that this item bs larger than heretomeet the greater demands to be made upon it.
5,609,384 01
34,797,064 16 In a word, then, instead of there being only 53
per
4,926,615 53
5,928.867 39 cent of cash required againat the 5 per cent redemp1,801.7.'}3 50
892.321 67 tion fund and against disbursing officers' baUncea,
346.6'il,016 00
there ought to be held all the time against the former
it
fore to
Total
:
$400,730.002 26
Ezoess of assets orer trust funds, equal to 53-15 per
oentof current liabilities
212,086,025 28
100 per cent; while against disbursing
officers'
balancea
no reason why the holdings should ever be ieaa
Total
$751,160.08128 than 75 per cent of their face, and probably
more
First in the above all the assets are stated ; next during the coming year, for even that reduction would
will be noticed under the head of "liabilities " every reduce them below the customary average of previoaa
trust fund with the single exception of the 100 million years.
dollars gold held against the legal tenders, but the
Of the other "current liabilities" specified, not a single
omission of that item under that head is, ostensibly, total would apparently admit of contraction, for all are
more than made good by the insertion under the subse- substantially cash demands requiring 100 per cent to
quent head of " current liabilities," not of 100 million cover them. Indeed one of the items named is checks
dollars only, but of the total amount ($346,681,016) of already signed and outstanding, and if the Government
the legal tenders outstanding.
No fairer looking com- is to hold only 53 per cent of that amount, it necessarily
pilation could be devised, or one that seams to avoid so would have to practice "kiting." Besides, there ia
adroitly every criticism vrbich has baen made of the another large liability, not even mentioned here.
We
oSoial propjsals to use in an eaaargency trust funds. refer to the 144,156,999 held by the Government against
And yet of course this arrangem3nt of figures does not national bank notes in process of redemption, and
change the facts as to the Treasury situation at all. which, under an act of Congress, is no longer counted
The old form and this new method are one in that par- as a liability, having been absorbed in the general balticular.
We do not need to say that book-keeping ance. No act of Congress can, however, prevent the
never added a dollar to any man's balance or to any notes from coming in, or prevent about two millions
nation's balance.
It can give accounts a new twist and net each month being presented for payment. Finally,
oan conceal what every reader wants to know but that this 213 million dollars, or 53 per cent resource, prois obviously the limit of its power.
vides no cuiTent stock whatever not a dollar reserra
Our only purpose in citing Mr. Whelpley's statement for any department which might be short to draw on
was that it might serve as an illustration of how inju- or for the payment of any special call. Of course it
dicious it would be for the Government to adopt any might be possible, so long as every condition waa favorchange of method in stating its accounts which in any able, for the Government to exist in a kind of hand-toaspect was less ingenuous and open than the one now mouth way.
But conservative men keep their affaira
used.
For instance, notice the transparent nature of so within their control to-day as to be prepared for adthe defects of this form defects, we say, if the Q-ov- versity to-morrow; and is it asking too much of the
irnment's purpose is to disclose and not to conceal United States Government, with its 500 million dollara
jfacts.
The very ostentatious method of patting into of payments in a year, to be correspondingly provident?
the compilation the whole amount of the legal tenders
One suggestion more respecting this statement ia
is misleading.
In paaaing wa
that the assets are not all available.
The easy assumption is that the whole
imonnt is allowed for; whereas the 100 millions of gold may mention a small asset of about 2 million dollara
rve against the legal tenders belongs among the which has been grafted on to the statements of the last
>t funds above, and were that amount placed where
two months. We refer to the items of standard dol.elongs there would only be for the items classed an lars coined and bullion bought under the act of July
purrent liabilities and for a working balance $112,986,- 14, 1890, the total of which two items heretofore alwaya
025, even granting that the assets are all strictly avail- has corresponded, and which, as we read the law, ought
we
—
see
—
—
'able.
to
And what
1
tem
is
the
are
"current
" national bank
liabilities?"
5 per cent
The
first
rede nption
fund," a fund that no more belongs to the Government than any other portion of bank assets do ; and
furthermore it is a fund that is changing daily, hav-
correspond with the amount of outstanding Treaswhereas now the
;
ury notes issued under the same act
•
!
aggregate of these two items of assets ia about 2 million
dollars larger than the liability item of notes iaaued.
But whatever explanation there may be for making
that addition, it is an addition which is common to the
meet botes presented for redemption at the rate old form of stating assets and liabilities and to Mr.
!ven now of over a million dollars a week, so that no Whelpley's new form alike, and has no place in thia
iirudent banker would run the account without having discussion.
ag
to
I
I
.
.
.
THE CHKONICLE.
688
[Vou
Threfi afonths
ending March 31.
Narthem PaclAc.
balance)
of the 213 millions
which therefore make apart
a stafceare objectionable in such
several amounts which
fractional si rer" and
said of ''
S
What
shall
be
"minor coin" made
checks already
to do duty against
its
none of either
Certainly
m
Bijmed &nd issued.
for that duty or
pSent form will be called available
liaitems classed as "current
for meeting any of the
re-coined
can be
fast as fractional silver
"bilities."
into
any manner
able
total
As
asset
it
stands in
"minor coin" count
new statement
this
as
the
equal
of
quick
a
character of
and take on the
it
the
and
same
demands which require cash
;
and
besides,
t
2,W7,825
8.2)8,881
1,645.087
tVX.VbS
48Sa,761
8S0,398
Wisconsin Central, net.
Total net earnings.
Miscellaneous Income.
.
2,064,175
.
69B,8.51
tO'^,988
48i.7»l
•i.^7.is;
14,398
141.917 '110.276
1,37(1,7412^1,
• 118598
710, laa
601.353
+2.9.?6.850 2,«C8,41l'l,957,8«
1,667.54 <
1,549.433
—204.6*4 -.48>t.707'-8.i3.-.;i3
Total net Income ...
Accrued charges
-9a'.42«
2.661.028
Re'ult
One quarter of amount
The
t
first
for year.
1 .5
IS,709
1
,6 -'4 ,671
+ Inolttding rental of Wisconsin
point to attract attention
is
CentraL
that the gain in
gross earnings for the quarter is very heavy, notwithstanding that the increase for February and March was
much smaller than in other months. The gain for
so
are consequently
sense an offset against
They
of the yellow metal.
misplaced, for they are in no
amounts
2.816,889
1,7; 8.838 11378,798 l,,14.3je
Net earnings
•
1887.
18-8.
188t*.
t
«
I
6,000.088 4.130,889 4,003,.'i61
8,288,18.S 8,760,087 a,J«9,165
Gross earnings
Operating expenses
As
afloat in
fast as it can be put
silver dollars, or as
of this unavailout
or shape, it will come
18B0.
1891.
lill.
as
they
over $863,000 as compared with the same
quarter of 1890 ; and if we carry the comparison back
beyond 1890 the growth is still more striking, for while
the quarter
is
items, to hide from view earnings for 1891 are $5,000,066, for 1888 they were
stand they help, with other
of the 100 millions of only $2,846,869 and for 1887 but $2,127,828.
So, too,
the existence or non-existence
public is
These for the quarter this
against legal tenders which the
the net earnings.
as regards
gold reserve
retained, and which the inter- year reach $1,713,883, against $1,376,793 for the quarao earnest in having
gold currency also ter in 1890, $602,988 in 1883 and only $482,761 in 1887.
convertibility of our silver and
requires should be kept intact.
The miscellaneous income has been much above the
NORTHERN PACIFIC'S CURRENT INCOME.
Northern Pacific affairs continues undiand returns showing the company's current
minished,
to and scrutinized
earnings and income are looked forward
more than the ordinary eagerness. This arises of
with
very busy of
course from the fact that rumor has been
Interest in
_
unfavorable already devellate in hinting, at something
income
oped or soon to bo developed in the company's
of these circumstances the stateBecause
condition.
for
average, being $596,851 for 1891, against $141,917
much closer approach of
The final result is a
1890.
net income to charges than in any preceding year.
was made of the fact a few weeks ago that some^
Much
this quarter of 1891 had failed to
net income to meet the month's proshow sufficient
But wo see from the;
portion of the fixed charges.
above that a deficit in this quarter is a norstatement
of the
months in
mal occurrence.
In
fact,
while the deficit for 1891 i»
only $294,624, for 1890 it was $489,707 and for 1887
extent of the
of.
as much as $948,082, thus showing the
of the company's income and charges change for the better that has taken place during these
ment and analysis
which we are able to present to-day, bringing the reyears.
be found to have
results for the quarter with those
us for the six months ending Depreviously given by
himself of
figures every reader will be able to judge for
cember 31, 1890, we arrive at an exhibit for the nine
the property's outlook and the present state of its affairs. months of the company's fiscal year. If the figures for
In some respects the exhibit will prove an agreeable
showed striking growth aud develop-
sults
to the 1st of April, will
usefulness and value, for
down
added
by means of these
By combining these
the three
months
This is particularly true of the results for ment, the figures for the nine months are still more
the quarter ending March 31, which we have made up remarkable in the same way. For these nine mouths
In the last two months of this, period the in 1890-1 gross earnings aggregate $19,447,680, while
separately.
in earnings,which in the months preceding had in 1889-90 they were only $16,792,255, in 1887-8 but
gains
reached phenomenally large proportions, began to taper $11,254,034 and in 1886-7 no more than $9,470,123.
down to much smaller sums, and heuce it was feared that That is, in four years the total has more than doubled,
with the call for charges in excess of that for the the addition being about 10 million dollars in amount. In
corresponding time in 1890 the net outcome would the case of the net earnings the total now is $8,232,636,
This feaj, it might
1888-9 and
necessarily prove unsatisfactory.
against $7,251,642 last year, $5,871,421 in
extent found to have been justibe supposed, ia to an
Of course, charges have
in 1886-87.
only $4,452,887
fied by the statement for the month of March, just
heavily, but after allowing for this the
surprise.
also increased
received.
for the
According
month
to that statement, gross earnings
increased, as
compared with
last year,
only $101,365, while net earnings actually fell off
$33,369^ this being independent of the results on the
Wisconsin Oentral, where net earnings have increased
somewhat. The conclusion
{or interest, rentals
nevertheless,
net result for the current year is better,
than
than in the year preceding, and decidedly better
is as follows.
The statement in detail
in prior years.
Nine ilonUa Ending Marcll
KorVhern
is
Pacific.
natural that after allowing
18M)-91.
and other charges, the company
Oross earnings
t9.447.8f0
31.
1889-90.
188»-ti9.
18t7-88.
16,79»,855
14,624,492
188^-87.
11,251,034
must have been much worse off than in the corres- Operating expense!... 11,215,044 9,540,613 8,75.'<.071 6.519,461
4,45^,887
4,73l,57a
5,871,421
7,251,648
8,^3^,6.18
Net earnings
ponding montb last year. On the contrary, however,
1,466.123
Wlscuns'n Cfentral, net
tke statement shows that the company was better off,
4,462,887
4,734,573
5,8 1,4a
7,i5l,(M2
9,698,759
Total net earnings..
•358778
•4U,40i
•880,821
+868.00
there being a surplus above the charges for March, Mlscell.net Income ...
4,8<j8i662
6,115,975
6.202,845
7,6:8,648
Total net Income... 10,545.005
laai, of 183,556, as against a surplus for March, 1890,
4,692.641
5.037,30K
5.87(),05'»
6,243,1*
tH.i 89,08(1
The change has been brought about Accrued charges
0% only $13,150.
+1 K.6B +116.031
l-1,4=6.«l" •^1.37 \4«S^
Besnit
by a deeided increase in the income from investments
+ Partly estimated.
• Three quarters of amount for year.
% Including rental uf Wisconsin Central.
and miscellaneoas sources. If now we take January,
the
Thus we get a surplus for the nine months of
B«bruary and March together, we find equally striking
all charges of
improvement. Here are the figures for a series of years. curreut fiscal year over ftn^ ab|Ove
1
-(-:<:<2,1'-7
Mat
THE CHRONICLE.
9. 18&1.I
41,455,919, which compares with a surplus of tl,370,463 in the nine months of last year, a surplus of only
#333,187 the year before and a surplus of but $108,606
in 1887-88.
THE NEW DEPARTURE IN LIFE
INSURANCE.
waste in
gcrating
699
insurance is great enough without ex»glapsed policies generally return gome
CMh
to the holder besides the
insurance already had;
life
it,
nor
have we been able to find (as indicated
in prevlon*
articles) that there has been any
startling increaso Itf
this relative waste, or
"the racers."
that
it is
specially groat
among
In his statement of expenses,
MK
Greene is also incorrect. As returns are
modA
Before us is a fac-simile of a chock on the Bank of up nobody can ascertain precisely what portioa
New York, drawn December 24, 1889, by E. 0. Potter of taxes, license fees, advertising, etc., should fairly b«
A Co., to the order of L. C. Hopkins, agent, for set down to the cost of new business but if the quoted
$578,345 the bank certification is across its face, and statement means anything, it is that to get the 674
the stamp shows that it was collected in the regular millions of new business in five years has cost $20,445,'course four days after date. This check is not re- 692. In that term the company paid $1,451,481 for
markable for its amount, but it is for its purpose, which commuting commissions; $10,883,037 for commissiona,
[Second Article.]
;
;
explained in printed notes upon
its back.
It was agents' salaries and expenses and medical examiner**
payment of five 1100,000 policies upon the fees, these items covering all which is clearly chargelives of Mr. Theodore A. Haremeyer and four mem- able to new business
and the entire miscellaneong
bers of his family, and this is the largest single life expenses, covering all outgoes not paid to policy-holdcr»,
insurance transaction ever efifected. The policies were and including the other payments stated in this sen" the 10-year guarantee contracts of the Mutual Life, tence, were only $21,356,135. "Waiving the diflference
*' with the
between Mr. Greene's total and ours, it is plain that he
annuity feature added."
The rery high rate paid for these policies attracts is not warranted in citing the entire working expenses
attention, $578,345 being paid down for $500,000 in- of a great company, in all departments and capacities,
surance.
The single-payment does not explain this, as the cost of getting a certain volume of new business.
for the average age of the five could hardly exceed
However, Mr. Greene's opposition is only an incident
45,
and at that age the single premium for a 10-year en- the main question being: What do the companies promdowment is less than $840 per $1,000, while this is at ise, and can they probably make their promises good?
the rate of $1,156 per $1,000.
Before us is a copy of the London Review (insurance)
Yet we are not to
assume that the Messrs. Havemeyer have been per- commenting upon a proposition submitted by an Amersuaded into depositing more money than they ca» ican company for a 20-year $5,000 policy at $262 prepossibly get back; on the contrary, they doubtless mium.
At maturity (age then 55) the holder is to
knew what they were doing, and the explanation is continue the policy, presumably for its face, and draw
that the conditions of the contract have not been made an annuity of $483 50; or to continue it and receive a
public.
It was a special one, for which no table rate cash surplus of $3,068 50, together with guaranteed
had been made, and the reason for mentioning it here interest of $209 50 annually; or to convert the entire
is that it illustrates in a striking manner
the new de- value of the bond into an annuity of "about" $724,
parture in life insurance which has already been of which $446 is absolutely guaranteed. The company
pointed out, and also because it shows that a movemen
also places the surrender value, at the end of th^
t
which has so commended itself to the public, while it twenty years, at $8,113 50, and as this comes aftdr
may be criticised, is not to be flippantly or sweepingly a twenty years' insurance the Review considers this
condemned. If there be error in it, the error is at eating the cake and having it, and asks, "Will sonie
least so entrenched as to command respect.
of our actuarial readers now take the trouble to work
Its solitary prominent public opponent. President this out ?"
As the simplest, we consider only the proGreene of the Connecticut Mutual, gives a picture of posed surrender value, which we find is just 37 cents
the operations of the most prominent company for the less than 4 per cent upon the premiums; it is $5,000
five years ending with 1889, and as this
condensation is insurance for 20 years, and repayment then of the
his strongest way of putting it and is meant to show premiums compounded at 4 per cent, being $3,113 50
the inevitable results of a "speculative" business, we more than the face of the policy.
But as this comes from abroad and cannot be asserted
quote
Five years ago it had in force $309,409,171 durinjr the five to be positively official, let us examine some figures
""°'® »674,772,321 Jan. 1, 1890, it had in force $631,from circulars publicly distributed from the companies
l?^«Ja
" ''^'^ ^°®'' principally by
is
drawn
in
;
:
;
;
lapse, &e., $355,164,826,
it had in force Ave years ago. Out of
this enormous amount of lost business it has gained
to its Tontine, or postponed dividend fund, $9,563,603. This five
year worit
has C(»t the company in expense of management
$20,445,693,
or i.oV-*'
?43, (o5,6.>5 more than
offices in
or lr47 per cent of
20-year Endowment lor $481 50
(10,000.
Premium,
§16,948 50
Caab value at
end of term.
20-7ear Endowmentfor (1S5 34
$3,000.
Fremlum.
CmU
its
entire receipts.
New
York.
These
figures as to policies in force, issued and lapsed
are correct, but there is a fact omitted.
Of the 353
millions terminated, nearly 196 millions (a little over
55 per cent) went by surrender and lapse; but 123
Amt. of PremluiiM
compounded:
• 14,911 07»41k
916,717 19»S%
017.712 4S«B>eH
JUnt. of
99,43831
value at
end of term.
Premloma
compounded:
I»4.sl0
72a4%
90,303 •Hxii%
9^,714 33 «5%«i
millions (about 35 per cent) were " not taken." These
This example is the most abundant increase of any
never had life, neither bringing in any money nor in- we have
encountered. A circular on Free Tontine Life
volving any outlay beyond stationery, etc. It is only policies,
issued by the same company, offers two illusby force of custom that this absurd fiction of treating trations of
15-year policies— $10,000 and $5,000;
still-born policies as issues in
one place and termina- premiums, $450 90 and $150 95. Here the cash values
at end of term are $6,729 40 and $2,214, and the premiums compounded (at 4 per c^nt), $9,390 and $3,143 63; at 3 per cent, $8,637 89 and $2,891 74. Examptes
Moreover, although the of similar policies (limited payment) show, on 15-year
tions in another can be justified, and it is
misleading
to lump them in the latter so as to
make them understood as swelling the return wave of loss consequent
tapon speculative methods.
THE CHRONICLE
700
[Vol. Ul.
cash values of $1,878 16 and $5,633 70, on be still further extended in coming years under the
of $3,000 and $10,000, with premiums of needs for transit facilities of a growing population.
As furnishing an idea of the extent of the addition
$104 23 and $333 40. Here the premiums at 4 per
Another that has already taken place, we may state that accent amount to $3,170 38 and $6,734 80.
circular, giving results of 30-year Tontine policies ma- cording to a statement prepared by the Census Office
terms,
policies
turing this year, shows cash returns, if the policies are
surrendered for their value, varying from $134 03 to
$138 42 for each $100 paid in premiums. These are
Ordinary Life policies. Upon 30-year payment Life
policies the returns are stated, on the condition of surrender for cash, to be from $148 50 to $157 44 for each
"
last
August there had been an increase in the mileage
from a total of
of street railways in 56 principal cities
l,689i miles in 1880 to a total of 3,151 miles at the
that is, the length of road in the cities
in question had increased 1,461 miles, or nearly 100
end of 1889
—
per cent, in these nine years.
As on December 31,
$100 paid in premiums. On Endowments, the similar 1889, there were no less than 476 cities and
with transit facilities of this
figures are from $175 05 to $176 10 for each $100 of towns altogether
return of the pre- kind, it is evident that for the country as a
premiums, this being equivalent to
miums with 7i per cent simple interest. On a 20-year whole the increase in the mileage of street railways
term, 4 per cent compounded is equivalent to $154 84 must have been much larger than the increase at the
This increase in the system of
56 principal cities.
for each $100 of premium.
Other circulars set forth the 15 and 30-year 4 per course provides an increasing body of investments of
The latter is issued, that class a kind of investment, too, regarded with
cent guaranteed indemnity bond.
up to age 40, at the premium of $50 per $1,000 of prin- considerable favor by many and thus the number of
Its payment persons having direct pecuniary interest in street railcipal; above age 40, at a slight increase.
Besides, several
at maturity may be deferred till death of the holder, ways is constantly being added to.
Esti- prominent companies have undertaken to change their
in which case 4 per cent interest is guaranteed.
mates are given on a $1,000 bond supposed to have motive power. Thus in this city both the Third Avebeen issued 30 years ago and now matured, varying, nue and the Broadway are at present engaged in laying
according to age at issue, from $1,715 to $1,737 cash cables to replace the old system of traction by horses.
settlement at maturity; on a term of 30 years, $50 pre- Many other companies in various parts of the country
mium compounds $1,548 45 at 4 per cent, $1,639 15 at are likewise considering the advisability of a change
from horses to some other form of motive power and
4i per cent and $1,735 95 at 5 per cent.
In all the foregoing cases there are optional modes and to the managers of these roads, as well as to the protimes of settlement; but these, although interesting and jectors of new roads, the matter of most vital concern
valuable, and generally showing a still larger rate of just now is that of determining the motive power best
yield, we have ignored, preferring the simple basis of adapted to the needs of the case and at the same time
an immediate entire withdrawal in cash, since that is the most economical.
On this latter point, the Census bulletin issued this
readily stated in the form of interest at a definite
rate.
week bearing on the relative economy of cable, electric
It will be noticed that the amplest of these estimates and animal motive power ought to be quite useful.
go beyond the 4 per cent, which the London Revieio We fear, however, that in some respects the bulletin
cannot quite accept as rational ; some even pass 5 per will prove disappointing. The summaries giving the
cent.
Of course, policies maturing early by death results separately for electric railways, for cable railjield enormously upon the amounts paid in, but this is ways and for horse railroads are of course interesting.
pure insurance and no criterion hence is not con- But the question is, how far these summaries may be
In general, we may say that the promise accepted as representative in each case of the system of
sidered.
offered by the popular combination of insurance with power to which they relate.
In the first place, the
investment is a return of the premiums at 4 to 5 per names of the roads are not given, the roads being desigThis of
cent compounded, after having the insurance during the nated simply by the numerals 1, 3, 3, &c.
—
—
;
;
agreed term.
It is true that these figures are given as
actual results
upon
definitely
named
policies already
course impairs the value of the statistics, since the
and importance of the roads taken
location, character
matured, and not as estimates or guarantees for the is not known. Moreover, only a few lines are comthey are taken as such, prised under each group, and the aggregate number in
; but it is also true that
and are valueless unless so taken.
the whole three groups forms hardly more than a fragThe crucial question, whether these results are aver- ment of the total number of street railways in th©
age results and whether they can be reasonably expected United States. That is, while the bulletin is based
to continue, remains now for our consideration.
on the returns of 10 cable roads, 10 electric roads and
future
RELATIVE MOTIVE POWER ON STREET
RAILWAYS.
The
30 horse roads, or 50 roads altogether, it was reported
August that there were 386 roads in fifty-six principal cities and no less than 807 independent roads in
last
the country at large.
In the matter of electric railways, pains is taken to
not
alone that a process of consolidation has been going on point out that the data given are more or less imperfect
in many of our cities, under which various small lines and incomplete, and that in the nature of the case
have been united into large and prominent systems, hardly anything better could be expected. We are toldt'
and that financial houses in this and other money that electric motive power in this country has a history
centres have been introducing to public notice the of only about six years, and that the electric railway*
affairs of street
railways in the United States
are constantly widening in
importance.
It
is
of street railway companies in the more
remote sections of the country (several loans of this
kind having latterly been offered for public subscription), but that the street railway system itself has been
very greatly extended in recent years, and is likely to
securities
being nearly all new, the period of new construction
has in few or no eases entirely ceased and been succeeded by that of regular and uniform operation. Eur«
thermore, that most of the electric railways are the successors of roads operated by horses, and that this latter
MA.Y
THE CHRONICLE.
9, 1891.J
701
millions.
This latter includes rotd«
is in very mauy cases still retained on a alone of 383
part of the linos, the expenses incurred being inter- operated by power other than hories, bnt eren if w«
mixed with those incurred for electric power. For add to the 30 horse roads given by the Ceiuaa the
these reasons, it is stated, no certain deductions regard- results on the 10 electric roads and the 10 cable roadi,
ing the future performance of electricity can be drawn thus taking the entire 50 roads covered by the bulletin,
motive power
from the data now furnished, nor will the statistics we get a grand aggregate of only a little over 300
"form a basis for a final judgment regarding the rela- millionB, against New York's 383 millions. In other
"tive economy of the various kinds of motive power." States there are also some conspicuous omiisions, the
indeed,
Still, " the facts presented are a record of actual ex- reasons for which are not clearly apparent
" perience, and as such are believed to have consider- some leading States appear to have been excluded en-
—
able value, notwithstanding the unsatisfactory char-
remarkable that no*
what period the
statistics cover.
Our own investigations, however,
"experience."
This admission is important and of service, as "it was establish the fact that the figures relate to the twelve
uosirable that the imperfect nature of the information months ending June 30, 1890.
Of course, notwithstanding the omissions menwith reference to the electric railways should be known.
'•
"
acter
some
of
the
of
conditions attending
tirely.
that whore
It is likewise
in
not a
the bulletin
is
it
little
stated
But we regret that nothing is said in relation to the tioned, it is possible that the results arrived at by the
value of the data concerning the horse-car lines, nor as Census may reflect pretty fairly the relative economy
to the method pursued in the compilation of the sum- of the different kinds of motive power ; bnt on account
maries of these
great
In selecting merely 30 out of a of the meagreness of the information, the figures must
what principle of selection bs accepted with the qualification that they may be
must be assumed that there was a modified by more comprehensive returns. Subject to
lines.
many hundred
was followed?
It
lines,
principle, as the roads
would not have been picked out
this qualification,
show the
we present the following comparison
and equipment per mile of
on the cable railways, the electric
railways and the horse railways, based on the aggregates
nent one is
directly on the point whether the aggregates derived of the roads comprised under each class
CabU RailiDays.
Electric Railu>au§.
Borte BaOwajit.
from the compilation of the roads taken may be re$46,697
*71,387.
$350,324
garded as reflecting fairly the general conditions and
This represents that cable roads cost on the average
results of operations by horse power, but also from the
about five times as much as horse roads, and apparently
fact that examination of the statements given reveals
that the electric railways have a material advantage
the omission of some roads which it would seem ought
over the horse roads as regards cheapness of first
to have a place in a compilation of that sort and the
cost.
This latter statement, however, is open to
inclusion of others hardly so essential in that respect.
question.
Aside from the fact that the data regardAs stated above, the names of the roads on which
hap-hazard without regard to their value or
fitness for
That the question is a pertievident not only from the fact that it bears
purposes of illustration.
to
cost of road
line (street length)
:
the calculations are based are not given.
returns in our possession, however,
identifying
in
many
of them.
From
ing the electric roads are admittedly very imperfect,
official
we have succeeded
The
result
is
there are other considerations which
into account.
The
electric
must be taken
roads here comprised are
rather
all operated by the system of overhead trolleys, only
found with the
one of the ten roads from which the Census has returns
representation of roads from Brooklyn the Brooklyn
being operated by accumulators or storage batteries,
City, the Broadway of Brooklyn and the Brooklyn City
and this one having been excluded from the calcula& Newtown, all being contained in the table though
tions.
Now the electric roads in question are not only
even here some important systems are omitted. In the
all
small and minor lines, but in most cases are
case of New York City, however, apparently only the
single-track roads, and have very little second track or
Dry Dock East Broadway & Battery and the Central
sidings.
Thus the nine roads taken, with 51 '12 miles
Park North & East Rivers are included. These two
of street length, have only 62-66 miles of track of all
curious.
Perhaps
little
fault can be
—
—
roads have a very dense traffic to be sure, but in gen-
kinds, thus indicating only 11*54 miles of second track
importance and in the aggregate extent of their
and sidings, or about 22 per cent of the length of road.
traffic they are outranked by several others.
Each of The horse roads, on the other hand, with 319 miles of
the two roads carries about 15^ million passengers per
line have 552 miles of track altogether, and the cable
annum. Here is a list of a few of the roads which
roads with 75 miles of line have 143 miles of track of
are not included in tke exhibit, with the number of
all kinds, indicating in each case some 80 per cent of
passengers carried by each for the latest fiscal year. If
If therefore the electric roads
second track or sidings.
objection be raised against the Third Avenue with 32,had the same proportionate amount of extra track,
960,000 of passengers because its 125th Street line is
much of the advantage in first cost which these figures
operated by cable, no objection can be made against
represent they possess over the horse roads would disapthe Broadway & Seventh Avenue, which carried over 33
pear.
millions, nor against any of the other roads given.
Coming to the operating expense per car mile, which
n'way A Bevcnth Ave.. .33,240,143 eiith Avenue
14,339,592 the Census Bulletin says is probably the best unit for
1
rd
eral
111
•
Avenue
ond Avenue
irth
Avenue
In the
.
I
I
1
'
'
interior
32,»60.000
18.155,128
17,625,012
of the
Twenty-third 8t
Eighth Avenue
State, the
14,178,626
13,940,003
Jamestown
road,
the purpose of comparisons relative to the economy of
the various kinds of motive power, the electic railways
Here are the figures.
again have the advantage.
which carried only 288,015 passengers, is taken rather
Bene railtcatt.
Eltetrir raUieay*.
OiMe ra«ioay«,
18.16 oenta.
14-12 centa.
13 21 cents.
than others of greater importance and prominence.
We may state, too, that on the whole of the 30 horse
Notwithstanding'the smaller cost per car mile, howroads given in the Census bulletin, the aggregate ever, the expense per passenger carried is heavier on
number of passengers reaches only about 190i millions, the electric roads than on either the cable or horse
whereas the New York State Railroad Commissioners roads. This arises from the fact that the electric roads
report an aggregate for the street roads in this State taken have a very light traffic, averaging only 282,641
rUE CHRONICLE.
702
for
passengers per mile of line per year, against 590,563
roads and 1,355,965 for the cable road^.
the horse
Referring to the density of trafiBc on the cable roads,
the Census bulletin says the figures correspond to the
[Vol.
LU,
City and Vera Cruz and between Galveston and Brazos
Santiago, in addition to which there are lines of inland
river steamers, ferries
7,276
and
making altogether
The length of railroad
transfers,
miles of water lines.
generally accepted statement that cable railways attain
mileage in the system
their greatest efficiency whereanextremely heavy traffic
The number of passengers carried
is to be handled.
per car mile is found to be 4-95 for the horse roads,
4-38 for the cable roads and 3-46 for the electric roads,
which again shows how light the traffic on the latter is.
with 6,052 miles at the end of the previous year, the
increase representing mainly the Oregoaian Railroad,
acquired, though there is also a small amount of mile-
6,226 miles, which compares
is
new construction. The average
length of road for 1890 was slightly in excess of six
age added through
—
—
which compares with an
6,053 miles
is " doubtless that the thousand miles
new, occupy lines over which average of 5,990 miles for the twelve months of 1889..
" the passenger traffic has been but partly developed." It should be said, too, that these figures of mileage do
In any event the result is that while the expense per not include certain affiliated roads, like the Houston &
passenger carried is 3*22 cents on the cable roads and Texas Central and the Mexican International, whose3-67 cents on the horse roads, on the electric roads it is accounts and operations are kept separate.
As regards the extent of the company's income, gross
Another statement is presented
as much as 3 -82 cents.
the first cost of the roads by earnings from the railroad and steamer lines foot
^hich takes into account
allowing 6 per cent interest on the same and apportion- up for 1890 no less than $48,352,504, which is $1,884,-
The
''
explanation,
we
are told,
electric roads, being;
ing the charge for this purpose on the basis of both car 641 in excess of the amount for the year preceding.
This The increase would have been still larger except for
miles and the number of passengers carried.
statement
serious interruptions
as follows.
is
Cable
Total passenger
Thus we
18-16
3-55
17-56
21-71
3-82
1-26
3-C7
0-72
4-77
Interest
railways.
Cents.
13-2L
4-35
3-22
1'55
—
Cents.
20'9l
Total per car mile
Per passenger
Operating expense
railways,
14-12
e-79
Interest
Horse
railways.
Cents.
—
Per car mile
Operating expense
Electric
5-08
4-39
see that allowing for interest on the first
to
business
by
early in the year
bad weather and storms. The Central Pacific east of
Sacramento was blockaded for 18 days, and the Oregon
Division was closed from the loth of January to the 2d
of March, while through traffic between Portland and
Sacramento, it is stated, was suspended from January 15to^March 25 by heavy rains, which caused extensive washIn Southern California exceptional
outs and land slides.
rainfalls also caused great damage and interruptions.
expense per passenger was 5-08 cents for The effect of all this was to divert much through
the electric roads, 4'77 cents for the cable roads and traffic to other routes, besides swelling the expense
But this would be account in repairing the damages sustained by tho
only 4-39 cents for the horse roads.
greatly changed if the electric roads developed a denser
road-bed, track, &c.
traffic and carried more passengers per car mile.
The
While, however, the gain in earnings in the late
average expense per car mile (iacluding interest) is
year was very satisfactory espscially under the cir-^
only 17 '56 cents on the electric roads, against 20*91
cumstances mentioned we get from that gain no
cents on the cable roads and 21*71 cents on the horse
proper idea of the rapid growth which has taken place
With a heavier traffic, however, the electric in the company's income in recent years. If we go
roads.
roads would need more second track and sidings, thus
back merely to 1887 no more than three years we
adding to that extent to the interest cost.
find that gross earnings then were only $38,732,131,
as against $48,352,503 for 1890; that is, in the three
cost, the total
—
—
—
THE SOUTHERN PACIFIC SYSTEM.
years gross income has been added
to in
the
sum
of
It may be supposed that
nearly 10 million dollars.
in large measure from an
the increase has followed
extension of the mileage of the system, but the increase in mileage has been only about 10 par cent, the
average miles operated having been 5,512 miles for
There
is so little speculative interest in the Southern
on our Stock Exchange that the growth of
the property and the proportions of the system do not
attract the degree of attention that the same characteristics would in other properties.
Yet in extent of
road operated, in extent of the territory covered by the
lines, in the magnitude of its finances and earnings,
there are very few companies that rank ahead of the
Southern Pacific. The publication of the company's
annual report this week serves to give prominence to
Pacific
1887 and 6,053 miles for 1890. If we go back five
to 1885— we find that earnings then were only
about 25 millions ($25,006,106), while for 1890 we have
seen the total was $48,352,504, so that in the five
years
—
years there has been an increase of over 23J million
In the same period the miles of road operate^
dollars.
this fact.
The system
—
the whole of the increased only from an average of 4,697 miles to aa,'
from Oregon to Southern Cali- average of 6,053 miles.
fornia, but extends all the way to the Gulf of Mexico.
We are accustomed of course to striking records of
In other words, with the western termini at Portland, growth in the United States, but there are few parallels
San Francisco and Los Angeles, the eastern termini to this even in our own history. As regards the net earnare at New Orleans and the Gulf of Mexico— thus forming ings, these have not risen in quite the same way, owing to
a complete trans-Continental line, under a single con- the decline in rates and the fact that the public has beea
trol from, ocean to ocean, the Southern Pacific being given improved service and new facilities and accommothe only company in the United States that can claim dations, and yet even in this case there has been steady
traverses not only
Pacific Coast section
Thus for 1890 the n^t
including trackage rentals, stands at 117,707,008, as against $16,583,487 for 1889 and $13,272,York, between New Orleans and Havana (via Tampa and 220 for 1885. Out of the $17,707,007 net income for
?;ey West, Fla.), between New Orleans and Nicaragua, the late year, $10,259,820 was paid for interest on
^tweenNew Orleans and Costa Rica, between Morgan bonded debt, $315,022 for interest on floating debt.
that distinction. Moreover, besides its railroad lines
the company has steamship lines running between New
Orleans and New York, between Galveston and New
progress towards higher totals.
income,
I
-
.
Mat
:
THE 'CHRONICLE.
9, 1801.1
2/259,701 for rental
to
70B
Central Pacific, |600,OUO for, suburban ferry
traffic, the receipts from loosl bniiSMt
thus predominating very largely.
rental to the California Pacific, $388,827 for trackage
rentals, tl,234,299 for taxes, and I265,C3G for better-
In the Central Pacific report, which
ments, over and above which amounts a surplus of
•2,377,713 remains on the operations of the twelve
months.
For the year 1889 the surplus was only
is
incorporated
Southern Paciflo, Mr. Loland Stanford
again urges the need for an adjustment of the relation!
as part of the
with the Government and for lenient treatment on the
part of the latter as well.
He also again gives cxpret-
$1,346,346.
shows a small
Southern Pacific on the operations and
accounts for 1890, but this is merely a bookkeeping
deficit, and arrived at by crediting to each of the
various proprietary companies their proportion of the
As the Southern Pacific owns
year's net earnings.
One
.
when the currency bonds mature
amount due the Government will be fixed by the
sion to the belief that
of the statements in the report
the
deficit to the
sum
and unpaid accumulations of infrom that date interest will cease to ran
against the road, and that it will remain simply for th^
company to liquidate the indebtedness by the annaal
of the principal
terest, that
application of 25 per cent of the net earnings.
all the stock of the proprietary lines, the net
earnings of such lines in effect belong to it, and the
proi>er way of arriving at the year's results is by treat-
nearly
UNITED STATES TREASURY STATEMENT
ing the system as a whole, as has been done in taking
Tho Buhjoined statement has been iaaued from the offlce of
the figures first given. On that basis there was a sur- the Treasurer this week. It is based upon the sntual returns
plus, as we have seen, of $3,377,713, after allowing for from Assistant Treasurers, depositaries and superintendents
of mints and assay offices, and shows the assets and liibilities
$365,625 for betterments. The sum of $1,666,771 more of the United States Treasury April 80. We give the figures
spent during the year for betterments and additions for March 31 for comparison.
as
on the variousleased and proprietary lines, and if
this too
April 30.
were taken out of net earnings, even then a surplus of
QOLD—Coin
Balllon
$710,942 would remain on the operations of the twelve
months. It may perhaps be interesting to note, in SiLTEB— Standard Dallars
BulM.m
yracttonal silver coin.
view of the former prominence of the Central Pacific,
Trade dollar bullion..
that out of the 48 million dollars gross earnings of the Standard doUara, Aot Jnly M, 'do
"
"
"
Silver bolUon,
Southern Pacific in 1890, the Central Pacific contribUnited Stales note*..
uted $15,937,004, and out of 17 millions net that road National bank notes.,
fractional currencr..
na,'n3,e>4
Oold certificates
The Southern Pacific being a trans-Continental
system, through traflSc forms an important part of its
and yet the local traffic is even more important.
A prominent feature in connection with the
through traflSc is the very long haul which it furnishes.
Thus on the Pacific system the haul for 1890 on such
traffic averaged 911-43 miles and on the Atlantic system
business,
516-25 miles, making 1,436 miles togtther.
On passengers the average was 830-31 miles for the Pacific
system and 478-80 for the Atlantic system, or together
1,309 miles. On the local freight the average was only
102-87 miles for the Pacific system and 191-87 miles for
the Atlantic, while on local passengers the averages
were respectively only 47-34 and 49-46 miles. Rates
on through freight averaged 1-15 cents per ton per
mile for the Pacific system and only 0-964 cent for the
Atlantic sj-stem.
Silver cerllflca'es
Currency cerilficaies.. ........
U. S. Treasury notes, July 14, *frO
n. S. bonds and Int., pnrcbaied..
Interest checks and coupons paid
interest on D. C. bonds paid
traffic
on the
Pacific
system was 681,766 tons, while the amount of the local
was as much as 4,584,810 tons. Otving to the
long haul on the former, however, the tonnage movement one mile stands at 621,373,983 tons for the
former and 471,618,907 tons for the latter. So in the
case of the Atlantic system, there were 868,389,'tons of
and 1,114,463 tons of local traffic; but
447,384,159 tons one mile of through and only 213,763,237 tons one mile of local traffic. In the case of
traffic
passengers,
though, the local traffic exceeds the
through both in the number of passengers and in the
passenger movement one mile. In the matter of revenues,
the earnings from through, freight stand at
against $3,723,388 from local freight on
the Atlantic system; but on the Pacific system the
earnings from the through freight were only $7,144,$4,312,816,
190, against $13,023,436 for the local freight, while for
passengers
the Atlantic system shows only $539,896
from through business, but $1,069,658 from local busiand the Pacific system $2,575,541 from through
and $6,930,730 from local, with $984,895 more from
ness,
191,43B.SU
31d.9()«.07«
3IS,707M6
416 SAK
400.7112
2n,6*<.4(l'
20,186,094
5.011.138
5,l9tf.l
342,927,976
S41,8B«JUa
l",976.769
20,<I1.SI1
ISI.i-SH.lSO
22,14^,944
S9,18S,>7S
43,829.374
14.196,398
12,660.817
8,416.287
1.416
4.o;>»,-e<i
423
Deposits In Nat.
b'k aeposlt'r's
16,067,479
27,309.200
3,3u9,417
270,000
4,710.918
24.060.460
»,75?.-'47
6J9.000
3,171.2^
31,S08.t«
35,599.563
84.70"
18.1tM
12.64^
l.Slt
86.919
30,890
838,(<99
Minor coin
i
General Acc't.
I
Dleb.ofllo's bal.
28.127,946
4,421,604
S44,8<ti
25.672.914
29.549.449
4.8.'l.»3t<
i51,»lS,300
Aggregate
29,804,903
731.8!i2,99e
LiABrtrrnt".
ino.nro.noo
Public debt an i Interest
Jntnrest due and unpaid....
Acc^uod interest
Matured debt
1 lerest on maturpd debt...
Int. on Pacific UH. bonds.
due unpaid
Accrued Interest Pacific
UK. bonds
ion,ooo,oo*
l66.199.Uxli
lt«,3«T,0W
313,38e,7M
14.?70.0iO
4l,73i,300
Res've for rrd'p .'n of U. 9. note*
O'lld cerilflcales. Acts 186M88a.
Silver ce'-tlticates. Act 18^8
Currency cerllflcates. Act lt>72...
U 8. Trcas. notes. Act July, 18W
ii.a7B,aoo
37,093,200
9(17.310
KAS.RBA
l.aMO.791
i.Bro.saa
2,893.61
l,b7".1 16
144.0911
141,615
9.720
11.100
372,437
S04,32ii
Balance of Int. anticipated
by Department oirculari
5,490,a»
4,434,994
Disburslnd officers' balances—
(TreiiBUry (IfBces ..»2«.0rt7,9^<
depositr'9. 4.421.501
i Nat. b'k
Post tittlce deuartuont account
Undistrrbuted assets of failed
.
Curren'y and minor coin redemption* accoum.
Fractional sllvercoln redemptl'n
account
Kodemptlon and excbanire aoc't.
r.>«8urer U. "., auent furpaylnii
4,929,»la
30.087.670
5.137,661
975,681
Nai tonal banks
through
traffic
through
M,6tie,ll»
280,633,040
1
of the
23«.74fl.80S
69.Kfi9.41ff
18.532,681
contributed $6,061,986.
The amount
MABOH 81, URL
1891.
1,057,904
S2,4S0,4'>-
1,060
1,880
10,640
1,197,09
12.140
474.901
Ul,73a
131.854
I
interest on D. C. bonds
Troas. tranff-er checks and drafts
outstanding
(Treasury offices.... IS.OSl.OW
X
Nat.b'k deposit'rles
847,77:)
•a
B.W(i,867
49,654,058
TnUI
Cash balanoe—
Net amt.lnMat.b'kdeo's'rles
Frao. Silver, Krao. Currency
24,280.172
In
the Treasury
a4,Ul,M9
«0,9e«,»2'
I2,o9,i.;uH
mlQoroom
Net balance
6.160.«7»
6M,231E.4tl8
Ilshilltles
an-t
SKTSUSf
6,69».S^
Five p. c. fund for redemption
of national bank notes
8a,<<S«,3B9
13,41l,»i
5T,«I3.80-
S8.429,«l
i61.5l»,aot>
A<tir«(*ta..
»1.S23,WB
DEBT STATEMENT APRIL
SO. 1891.
The following is the otficial statement of the United
States public debt at the close of business April 30,
1891.
INTKBEST-BBARlNO DBBT.
rnt'r^
TUlt of Locn.
Ammua
Amount
Pay'U
ISSIM4.
Itei)lttrrMt.]
OiUMandlitr.
Coufon.
TU^
4Ms, FU' ded Loan.. 1891 g.-M. $980,000,030 $;I9.<T7.5'» Ill.'Ol.SOO fSl.ttt,M*
740.'>«».8aO 483kU70,MO T6,4a«,g<IO K»ju*.m
Is. Pnnded Lowi....l997 Q.-J
«^I*
40,0I2.7M|
4*. RafaodlDg CertUlo'i. Q.-J.
Aggraza'e •zoiodlni
Bonds to Pae. RH
I
1
.0in.H3W.6M
»»«.*4'».46'»' IW.S2W.Win
610,771/
—
;
.
.
.
:
.
.
THE CHRONICLE.
704
DBBT ON WHICH INTBRKST HAS CKA8KD SINCB MATURITT.
the next
Aggregate ot debt on which Interest has ceased since maturity Is $1,660,636.
TUB debt consists of a number of ltem8 of which the principal amounts are
sterling.
tailed bonds.
^^^^ BEARING NO INTEREST.
Legal-tender notes
Old demand notes
National Bank notes
*^*'''?i'Sil
00,033
Redemption account
j j 1 in uqq
""''•»™
•.;i-Ai/;^v;
*'§'^'is?
8 ,.i7?.»iW
Less amount estimated as lost or destroyed
t897,8Oi8,240
ARgregate of debt bearing no interest
CBBTlFICATES AND IC0TB8 ISSUED ON DEPOSITS OF GOLD AND
SILVER COIN AND LEGAL-TENDER NOTES.
CUusifieation of Certi/lcata
In
and Notes,
In
Qold
Issued,
$87,309,200 $138,890,799 $166,199,999
3,309,417 312,933,440 816,242,857
14,370,000
14,000,000
870,000
41,731,800
37,020,254
4,710,946
certificates
Bilyer certificates
Currency certificates
Treasury notes of 1890.
Aggregate of
Amount
Circulation
the
Treasury.
t8S,599.C«3 $502,844,493 $538,444,086
certificates..
COMPARISON OP DBBT WITH THE PRECEDING MONTH.
Apt US
Olassitcation of Debt.
Increaie or
Decrease.
afar. 31,
1891.
1891.
D. 2,711,260
D. 9,480
610,771,520
1,660,636
613,612.780
397,802,240
Interest-bearing debt
Debt on which interest has ceased.
898,762,861
D. 960,641
1018.945,776
D. 3,711,881
1,670,115
b. 2,750,7*0
Dttbt bearing
no interest
Aggregate of Interest and non-interest bearing debt
Certificates and notes offset by an equal
amount
of cash in the Treasury...
Aggregate of debt, Incrg
cert's
and notes
0<Mh in tlie Treasury.
Bsaerred for the following purposes
Redemption of U. S. notes
638,444,056
530,526,611
1548,678,451 1544,471,287
100,000,(H)0
Redemption of fiO\d certificates issued
Redemption of silver certf s. issued.
Redemption of currency certfs. issued.
Redemption of Treasury notes.
Matured debt, accrued interest, and
interest due and unpaid
.
4,207,164
818,389,! 82
14,270,000
11,676,000
41,731,200
37,093,200
4,434,994
6,490,686
38,37«,88(i
694,441,367
Debt, less cash in the Treasury.
848,515,59s
860.029,920
1.
6.721,491
D. 1,514,387
Int. repaid by Compantts.
Infere«t
Principol
Interest
accrued
Outand not paid by
standing.
the V. S.
paid.
By
Transportation
1/et
$
$
Kan. Pacific.
8,303,000
Cni'n Pacific 27,236,512
Oen. Br. U J". 1,600,000
West. Pacific 1,970,560
BlouC.&P.
Totals
Service.
1,628,320
39,411
$
658,283
28,197,540
438,410
6,927
24,079,097
1,802,868
8,646,634
17.S,481
2,023,610
a3.473.il<0
63.725,114
[FTom our own correspondent.]
London, Saturday, April 35, 1891,
The Directors of the Bank of England have this week been
borrowing in the open market upon consols, and thereby have
made
the 3}^ per cent rate fairly effective, although the tendnot quite as Ann at the end as it was at the beginning
of the week. The Paris bankers interested in the Portuguese
ency
is
Tobacco Monopoly issue have apparently decided not to take
the gold required from London, as that might cause a further
advance in the Bank rate, and disturb markets generally.
On Wednesday they sent into
amounting
to £190,000, but
the Bank of England bar gold
on Thursday they withdrew for
Lisbon £300,000 in sovereigns.
If the gold required for Portugal
is provided by France, it
not be a further rise in the rate for
some time. But still there will probably be a rise before long,
for the English internal coin circulation is now beginning
to
expand, and the usual withdrawals of gold for Scotland will
begin in a day or two. About the middle of May and the
is
possible that there
;
aid
which used
to be
the net increase in
assistance given to the local authorities is something over
9% millions sterling. The Chancellor of the Exchequer proposes to apply his surplus to remit fees now paid by the poorer
board schools and in elementary schools. In
it is expected that only a million sterling will
be so applied, as the necessary legislation cannot take eflfect
before September but next year the whole two millions will
go to remit the school fees. This year half a million sterling,
in addition to the school grant, is to be expended on the con;
may
and £400,000 in withdrawing light gold
During the past financial year the net reduction of the
struction of barracks
6,076.36i
460,016
9,367
2,197,012
Balanci
paid by
rrCts; 5 p. c.
net earning. the V, S
12,696,774
64,fli!3,512
Over and above all
the present year
pay- of Interest
3,869.318
2,555,001
32,566
By cash
$
6,248,038
Sl7,70a 35,100,850
126,060 8,965,683
544,730 37,214,281
82,000 2,269.808
tighter.
classes both in
BONDS ISSUED IN AID OF PACIFIC RAILROADS.
25,885.1211
become
On the other hand, grants in
made have been withdrawn, so that
3?,692,872
700,162,85!'
Oen. Pacific.
likely to
be recollected that the Russian Government may
at any moment take further amounts of gold.
According to
the returns of the Imperial Bank of Russia, that institution
has standing to its credit in foreign cities nearly 33 millions
sterling.
It is not known how much is in London, but probably not much short of a quarter of the sum stated. Furthermore, speculation in American railroad securities is springing
up, and later in the year the probability is that we shall
need an unusually large quantity of wheat, and have to pay
higher prices than for years past.
Early in the week a large Parsee house in Bombay had to
stop payment, with liabilities estimated at about a quarter of
a million sterling. The house is said to have speculated
wildly in exchange, and in consequence of its failure there
has been a fall in the Indian exchanges. Besides, the Indian
money market has become decidedly easier. On Thursday
the Bank of Bombay reduced its rate of discount from 5 per
cent to 4 per cent, the Bengal rate being already 4 per cent.
There is no demand for silver for the Continent and as the
American market is weak, the price of silver fell here on
Wednesday to 43%d. per ounce, but recovered yesterday to
44d. per ounce.
The Chancellor of the Exchequer made his Budget statement on Thursday, from which it appears that the actual
surplus realized in the year ended with March amounted in
round figures to a million and three-quarters sterling. For
the year which began on the 1st of this month he estimates
annually.
Total
0/ TUMway.
is
of a million
there are no foreign demands,
It will be understood that in these figures
are not included the transfers that have been made to the
Just now the losal authorities receive
local authorities.
from the Imperial Exchequer about seven millions sterling
20,832,359
banlEfond
Name
the market here
if
millions sterling.
636,016,136
Total cash res'ved for above purposes
ATallable for other purposes
Fractional silver, fractional currency
and minor coin not full legal-tender.
Net cash balance. Including national
Even, therefore,
the revenue in round figures at a little under 90J^ millions
sterling and the expenditure at a little under 88J^ miUions
sterling.
He expects, therefore, a surplus of very nearly two
168,887,529
316,2-12,86^
1.7.918,645
I.
100.000.000
166.199,999
.
few weeks may exceed three-quarters
this, it is to
:
Fractlonnl currency
[Vol. LII.
coin.
was about five millions sterling, and the Government balances at the Bank of England and the Bank of
Ireland were increased by somewhat over a million sterling.
Speculation in the American market here is at last becoming broader and more active. On Thursday there was some
check given by a telegram stating that rates were being cut
by the Canadian Pacific but the telegram was soon explained
away, and buying began again. The larger operators are
dealing very freely more freely than they have done since
May of last year and even the general public are coming
forward, somewhat cautiously as yet, though the opinion of
those best in a position to judge is that if the market is well
maintained, the speculation is likely to increase. There has
also during the week been some recovery in South American
The news from South America is still extremely
securities.
bad. There is danger of a quarrel between the Argentine
National Government and t\ie Government of the Province of
Buenos Ayres, on account of the proposal to amalgamate the
Provincial Bank with the National Bank. In Chili the civil
war is as bitter as ever, while in Brazil speculation is running
utterly wild. In spite of all this, all South American securiapparently the large capitalties have recovered somewhat
ists interested believe that the fall of the previous few weeks
national debt
;
—
;
;
was so great as to justify a reaction.
The securities dealt in upon both the Paris and Berlio
middle of November large payments always f aU due in Scotland,
In consequence of which the bank note circulation largely
bourses have been weak. In Berlin a slow liquidation has
been going on ever since the beginning of last year, and the
expands, and in consequence of this the banks have to with- strikes in the Westphalian coal fields have excited a fear that
draw gold from London. Usually the withdrawals amount to there may be a further break in the coal and iron markets.
from half to three-quarters of a miUion sterling. It is quite There is some anxiety, too, respecting German banks. In Paris
possible, therefore, that the internal demands on London in the state of feeling is even more unsatisfactory. Confidence-
I
.
Mat
THE CHRONICLE.
9, 1891.]
banks has been shaken by the rec«nt
failure of the Coiuptoir D'Escompte, and by the collapse this
year of the Banque doa Depots.
It is known tiiat otlicr
banks are in serious difficulties, and fron\ time to time there
are rumors circulated that a run upon those bonks is about to
beKin- Then again there has been an excessive speculation
in Spanish, Portuguese, Turkish and Russian bonds, as well
aa in copper phares, Ottoman Bank shares, and some other
securities.
Many of the speculators ore tiuancially weak, and
even the powerful on«M are believed to be overloaded. It is
evident that neither London nor Berlin is in a position to relieve Paris of its load, at all events until prices have considerably fallen. Therefore, it is feared that if any accident should
occur, such as would compel large sales, the break in Paris
might assume formidable proportions. In other departments
of the Stock Exchange there has not been much doing. A
little while ago it looked as if we were about to witness a new
speculation in South African gold shares, but it has not yet
come. British railway stocks are neglected.
The weather this week has been brighter, but it continues
still very cold for the season of the year.
Nevertheless the
grain crops in the United Kingdom are reported to have suffered less than was hitherto believed, and many think that
even now if a change in the weather were to take place the
harvest would be fairly good. But from the Continent the
reports are very unfavorable. Especially in France the prospects are gloouiy. Some go so far as to estimate that the
wheat crop alone will be so short that it will inflict a loss
upon France of about 50 millions sterling. Of course such
estimates are rather wild at present, as it is impossible yet to
in the great
Freiicli
what the harvest may be. But the estimate is given
show what the feeling at the moment is. Crop prospects
are bad also in North Germany, Belgium and Holland, as well
foretell
to
as in Austria-Hungary.
conflicting.
U
. :
Some
Respecting Russia the reports are
authorities state that
much damage
has
been done, and that the harvest will consequently be a bad
one -while others affirm, with equal confidence, that the crop
will be a fairly average one.
;
706
,*"'''""'''"'
'•> ''"»». I7th InX.,
4300,000; J»p«a
iiiaiii, SM iii«t.. *oa.«oo.
Mrxka.-! I>oLLAB».-Thorn harabwD few anivalii, •o/t
Of Dollars. — tiiai-a Iiuvm k^m fJmm .^..^-.i.
ItapflMU
nomlnn). Hhlpmenla
''111'
iTth /l"'"*^' .()««;
iDnt, iio7
The quotation!
:
for bullion aro reportwl aa foUowt:
OOLI).
Apr.n. Awr.
London Standard.
I.
It.
n
Bar gold. One
oi.
nar gold, oontaln'g
ILTCa.
1«.
It
•.
77 10
10
Bar illTar
nil
77 11
IngSgra. gold..o(, uii
4p«a. doabloona ot
S.Am.doublooiu.oi.
ut- «7
Mailflapdolg
o«.'«g||
money have been as follows:
forttroHUtw
I
Bank BUU.
BUU.
lYoil*
Awr
Thru
S(z
four
ttirt4
•-
U
- mm - 35<9 - SMOl MdAA 8H«4
The Bank
Ki»i.
»i«H
«*»*
|7(0 It
Cofl.
an*
1
a
»«-«)i
m
>W
m
H
»
9tH 8 «8M
•»« 8 OSH
9>H 8 ASM
- ZMSS «MSW 8 aSM
»X« -iW*»
m 8»a- 3H» - 8)«» -
M
At
six
m»- «M» -;n*» - mm -,8
m»- m» - «H<» - «««* 8
tm- »H9 -,2«« SM08 8
W
Mar.
s
"
87 s
Apr. 4 s
"
8 »
"
18 8M «<«
"
S^
iMNi
Joint
Stock
Hontlu Htmtlu Montiu JfonHUJtfontJb Uonilu Bnnkt.
1
,
n
alUmt
Inltrat
Op«n Marlut Batt:
j
OmOim
SU
Caka stlT«r
.
rates for
MM
ot. ^s^^
BarillT«r, enntalii-l
Mdwta. •llTer..i>t.
The
*prl».
t»iulon ttandard. U^.'.
«W-«M
•X-tX
IH iM-iN
a »i-Q<
1
stw
a
a
and open market rates at tha
now and for the previous three weeka
rate of discount
chief Continental cities
have been as follows:
AprUtS.
^pHIW.
Ratu
of
Interut at
Bank
JprKll.
AvrUt.
Bon* 0»«n Bank
Rate. Uarkei Bate. Marka BaU. Uarktt Sou.
Bank
Oven
Opsn
Paris
Berlin
3
~~t
8
llnmbnrg
8
8
3
3
F>ankfort
3
3
3
Amsterdam....
3
a
3
8
««"
~S
3
8
Brussels
.Madrid
i
Vienna.
4
8
3
4
nom.
«
nom.
St. Petersbartr.
8X
8«
im
Copanhaaen....
8«
OpMI
MofM
3
8
3
2N
»«
*K
8K
3
3
4
t
4
3J<
8X
4
3«
8«
SM
4
SI4
4
sx
3«
The following shows the imports of cereal produce into the
Owing to all this, the rise in wheat continued during the
two days of this week. On Tuesday in particular there United Kingdom during the thirty-three weeks of the season
was extraordinary activity in the London and Liverpool mar- compared with previous seasons
kets, and prices went up higher than they have been for
IMPORTS.
first
:
years, as
much
having been paid for good
Since Tuesday, however, there has been some
reaction, partly due to the belief that the French purchases
during the past few weeks have been so large that the French
demand is practically satisfied, and partly to the giving way
of the American market. The average price of wheat in the
as 488. per quarter
foreign wheat.
principal markets of England and Wales last week was 39s.
per quarter, compared with 29s. lOd. per quarter in the corresponding week of last year, being a rise of 9s. 2d. per quarter,
or about 23i^ per cent. Greater injury in this country has
been suffered by the cattle farmers than by the grain farmers
up to the present. It seems almost inevitable that the hay crop
will be very short, for the grass fields are almost bare. There
is in consequence great scarcity of food for cattle, and from
many districts come reports that cattle are being hurried to
market because of the difficulty of keeping them. In consequence meat has been falling, while wheat has been rising.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c,,
compared with the last three years
1890-91.
1889-90.
Wheat
owt 35,415,552 33.105.648
Barley
Oate
Peas
10,946,070
8.521,437
8,021,775
1,247.724
1,222,210
1,906,965
2,159,093
17,184,904 23,324,776
10.558,978 11,179,837
13,616,35.3
Beans
Indian corn
Flour
1888-89.
33.888,961
13,396,785
9,551,363
1,294, 111
2,225,963
17,824,212
9,270,298
1887-89.
28,528,887
11,802,250
9,439.135
2,141.379
1,748,467
13,865,621
12,598,022
Supplies available for consumption (exclusive of stocks
September
1890-91.
1889-90,
1888-89.
Import«ofwheat.owt.35.41.'<,552 33,105,648 38,888.981
10,558.978 11,179,837
9,270,298
Sales of home-grown. 2.'>.768,676 33,018,365 24,406,170
Imports ot floar
Total
72,565,429
71,743,206
77,303,850
1890-91.
1889-90.
29a. lOd.
29e. lid.
298.101.
Od.
price, season.. 328. lid.
318.
ThUwtek.
qrs. 2,258,000
Floor, eqiuU to qrg.
Ualse...
qrs.
410,000
403,000
Lattweek.
2,269,000
415,000
441,000
68,982,235
1887-98.
SOs.
30s.
7d.
flour
and
Id.
The following shows the quantities of wheat,
maize afloat to the United Kingdom:
Wheat
1887-88.
28,528,887
12,598,022
27,855,326
1888-89.
English wheat, per qr.—
Average price, week.... 398.
Average
on
1):
1890.
2,206.000
262,000
705.000
M.
1889.
1,706,000
313,000
367,500
:
IWl.
.4JM-.
Pnbllcdeposlta
QoTernment
secarltlee
Other securities
£
24.886,186
9,617,738
28,836,166
16,959,948
116,861,604
30,070,446
16.584,040
21.041.219
13,704,738
Reserve
Apr.ai.
.4pr.2«.
£
84,648,815
8,378,965
a8,839,7«7
ll,8»7,«52
Otber deposits
23
24,431.115
7,560,624
e
circulation
Bnsllah Flaanelal .TlarkeM— Per Cable.
1890.
AvT.^.
15,16e,0«5
Coin and bullion
21,803,253
23,146,210
Prop, assets to liabilities. per ct,
tUfi
«4«
Bankrate
perct.
8^
3
Consols
96 13-16
98 1-16
C/saring-House returns
126.281,000 132,818,000
£
24,296,660
The
London,
week endinx May 8:
daily closing quotations for securities, &c., at
are reported
by cable as follows
for the
7.179,068
24,783,925
Loiuton.
17.749,712
21,072,185
18,917.825
14.202,367
22,287,492
21,240,404
13,143.764
40 13 16
42M
2X
2
am
110.646,000
,000
Sat.
Hon.
Tue$.
d 45
46»8
4S>e
ConRols.new, 2% per cts.
95'
9»'l6
do for account
95»9
957.,
JVch rentes iln rarl»)(r. 94'52>9 94-52»g 94-30
U, 8. 4Js8of 1891
1031a 103 >9
U. 9. 49 of 1907
122^
122:H
I
Canadian Pacific
81
81>e
Chic. Mil. A St. PatU....
6638
66
Illinois Central
103 >•
104
Lake 8hore
114
114
Louisville A NashvlUe..
82 »s
83^
Mexican Central 4*
75%
75 H
N. Y. Central A Hadaon.
105 <s 105(4
s
22I4
Y. Lake Erie & We«fn
22^
N.
SllTer, per oz
:
Messrs. Pixlev
&
Abell write as follows:
Gold.— Gold remains
In good demand for the Continent, and the only
parcels of bars arriving at the Bank are understood to have been gent
from Paris to be obiiiiRed for sovereigns for export to l.isbou. The
Bank has bought «2!t7,00(., and sold $200,000. Arrivals Calcutta,
£61,000; Natal, J!r).0 O; China. £15,000; Brazil, £24,000 W. Indies,
*|4.W10. Total,* 189,000. Shipments: To Bombay, AprU 17th and
:
;
S'LVKR.— Silver remained quiet at
44i.)d.
until the beginning of tbis
week, when with soini' pressure to sell from New York prices gave
way, and this was inienslHed by reports from India. To-day the price
18 quoted at iSTgd. per oz.
Arrivals: New York, £39,000 West In;
1
do
2d cons..
A Western, pret.
Northern Paolflc, pref..
Pcnnsvlvania
Philndi-lphin A Reading.
Union PiK'itio
Wabash, pref
Norfolk
n
104 !lt
67?
73%
S37g
l?"?
MH
25
«4
104 >g
67 %
73'«
52%
Wed.
44^
95
95 >4
93-80
103 >4
122",
80°g
65
103
114
81%
75V4
104%
21"B
104
56%
72%
53%
5'Jt«
17
SOT*
22 >9
23
17»t
1
Tkur*.
44%
«5%
tH.
1
44%
«»»,.
95 >,. 951,:
9412l« 93-30
103% IO8I4
122% ,133%
81
66%
103
80%
63%
118%
108
113
81%
75%
100%
80%
74%
104%
31%
21"^
104%
as'i
104
2? J*
53
17%
81%
32%
81%
56%
72%
1*
H^
00
..
.
.
,
.
:
,
THE CHRONICLE.
T08
©ommerclaX and Wtisctllnmoxis Mevjs
the
GOVERNMENT REVENUE AND EXPENDITURES.—Through
we are enabled
of the Secretary of the Treasury
OMrtesy
National
~i~
~~%~
10,899
1,981
81.888
21.51rt
12,395
2.321
36,2.'il
39,804
43,577
28,986
e2,S21 31,370
/2,84e 37,890
01,127 29,611
17,779
ll,44h
2,189
81.416
18,786
16,615
11,61
2,647
33,050
11,159
2,94:
11,004
2,666
10,681
3,794
18,966
10,115
1,785
20,800
11,282
2,696
34,178
26,046|
19,908
12,105
»,004
34,017
ll)l,51»l 112,705
25,0i8fl
829,250
16.105
12,944
23,0-:7
11,985
9,490
11,207
Totm
M,838
{2,034
11,420
i;!.6e2
April.
37,1
27,9^17 341.808
in roonlhs.lM.276 119.105
$45,623,772
it;.i47,200
1,3C0,718
1,817,918
$44,323,054
gold banks, not included abovet $125,367,
According to the above the amount of legal tenders on
May 1 with the Treasurer of the United States to
redeem national bank notes was |44,3i3,054. The portion of
this deposit made (1) by banks becoming insolvent, (2) by
banks going into voluntary liquidation, and (3) by banks reducing or retiring their circulation, was aa follows on the first
of each of the last five months
deposit
.
30,866
29,418'
26,603
15.228
16,373
redeem national bank
Amount on deposit to redeem national bank
notes Mayl, 1891
29,595
36.691
22,036
18,994
to
1891
1,
30,717
15,925
22,216
September.
October
FebriurT...
"«~ ~i~
19,006
ATumst
12,568 «3,733
12.815 65.154
13,86'
c3,107
11,322 aa,438
March
lotal.
99
11,717
8(',Sin
. .
notes April
Amount deposited during April
Amount reissued & b'nk notes retlr'dlu April
Sourc'.'
86,807
2,329
23.958
January.
i
~f~
~T~
July
NoTember.
December..
Inter*
Rev'ui
1,384,178
$170,294,009
Legal Tender Kolet—
Amount on deposit
• Clroulation ol national
Misc*l
OiutOTM.
$171,678,187
$46S,740
1,8*7,913
Amount outstanding May 1,1891*
188P-90.
InUr't
latal.
Bev'ut Saitrc't
Oiutomt.
Ifotet—
Amount outstancUnc April 1, 1891
Amount isfliiert during April
Amount retired during April
details of Governto place before our readers to-day the
April.
ment receipts and disbursemente for the month of
previous
From previous returns we obtain the figures for for the
months, and in that manner complete the statement
1889-90.
ten months of the fiscal years 1890-91 and
BECEIPTO (OOOe omitted).
1890-91.
Bank
[Vol. Ltl.
fcNatloml bank deposit fund Incladed:— ^ ,„„, ._„
.a nx-r j>ta
« $2,067,459
d |307,450
c »993.720
6 13.021.000
a»2 7OO540
i $580,600,
h t390,b36.
fljt338,145.
DI8BDESEMEHT8 (OOOS Omitted),
1890-91.
April
1.
941,273
5,587,752
890.349
5,649,172
875.345
5,708,850
1.
May
1.
8«8,231
5,603,340
Red'c'g undr.
'
44,948,486 43,048,677 41,038,421 39,091,747 37,«51,483
act of '74.
51.495,178 49,630,872 47,577,942 45,623,772!44,323,054
Total
•
Aot of June 20. 1874, and July 12. 1882.
National Banks.
—The
recently been organized
1889-90,
March
Feb. 1.
1.
853,663
5,688,029
[nsolv't bis.
Llqiiid'Kbks.,
/ »245,740
/ »M^ 7in
;
Jan.
Depotiti hy-
have
following national banks
:
of South Sioux City, Kebraaka, Capi$50,000, President, F. M, Dorsey j Casliler, 8, W.
Appleton.
,
,^
^ ,x .
4,558—The First National Bank of Fernandina. Florida. Capital,
$50,000. President, Fred W, Hoyt Cashier. E. C. Cooley.
The Farmers" & Merchants' National Bank of CiarksvlUo, Teno.,
which was placed in the hands of a receiver January 3. 1891, is now In
a solvent condition, and was on the iOth i istant permitted to resume
business as an active national baukln? association.
-.
,. ,
4,559—The Merchants' National Bank of Ashland, Kentucky. Capital,
$100,000. A. C. Campbell, President C. C. Martin, Cashier.
Capital,
4,560— The National Bank of Avoudalo, Pennsylvania.
$50,000, Samuel Wickersham, President; E. Pusey Passmore, Cashier.
., „ ._ ^
n i
4,561— The Lloyds .National Bank of Jamestown, North Dakota. Capital, $100,000. William M. Lloyd, President; James M. Lloyd,
4.557— The First National Bank
nary.
Bept...
Oct
Not
Prem,
In-
38,187
18,277
15,24«
I
8,175
876
38 18,406
1,730
35,687
34.298
11,999
20,039
201
143 38,036
16.480
4,894
6,133
42,570
11,620
10,776
774
21,784
11,344
10,322
al4,242
618.331
c32,48S
18,839
ll,0lf7
t
$
4.313
4,524
13,431
"i~
$
2,054
14,863
t
7o(aJ,
tiona. terest. iunu.
~T"
7.232
18,988
Jnly...
Ang
iunw.
»iona. tereat.
~i~ ~1~
Pen-
Ordinan/.
Prem-
Pen-
Onii-
29f^
41,998
612
S,73H
36,388
1,506
2,873
2,892
17,411
2«,699
2,165
25,335
1,483
2,693
25,821
IJ17,622
21,511
(•16,741
2,6i2
3,637
461
1,081
2,851
40 23,981
15,f80
2.176
7,918
2,086
27,858
17,311
360
702
31,726
9,924
10,828
13,681
518
957
25.060
8,851
1,389
2,096
18,938
e,61S
6,661
674
17,513
29,908
Deo....
Jan....
/20,009
0l4,0'B
Karch. k21.272
22,712
April..
Feb....
9,518
264
1,910
31,492
26,831
2,855
97.174 36,092 10.401 333,'l22 1»1,»11 90,583l84,09H 19,271 875,891
:—
Ib Natl'inal bank redemption fund Incl'ided
6*2,074.431
C$2,212,780 d 2.109.684 e $1,935,467 ^$2,481,760
io»l,79«76»
lOmos.
fl
179,355
k $2,440,204.
$2,279,310.
i $1,540,086.
We gave the statement for
depositaries on May 1.
April 1 in Chronicle of April 11, page 558, and by referring to that the changes made during the month can be seen.
XT.
8.
Bonds Held May
1,
1891.
Bank
to
Seevre—
Public Deporits
in Banks,
Circulation.
$2,113,000
3,603.000
22.248,500
$7,655,000
23,268,450
110,001,450
132,249.950
»27.964,n00
Oorrency 6b..
4>t per cents.
4 per cents...
;
:
Casliier.
.
;
Cashier.
AND Exports for the Week.—The imports of
week, compared with those of the preceding week, show
a decrease in both dry goods and general merchandise.
The total imports were $9,632,410, against $13,974,659 the
preceding week and $13,988,110 two weeks previous. The
$140,924,900
last
exports for the week ended May 5 amounted to $6,998,986,
against 7,106,133 last week and $$6,358,970 two weeks previous.
The following are the imports at New York for the week
ending (for dry goods) April 30 and for the week ending (for
general merchandise) May 1 also totals since the beginning
of the first week in January.
;
$168,889,400
Total Held.
$9,768,000
26.871,4i0
rOKEIGN tMtPOETS AT ITBW TOSK.
For Week.
Total
—
Coinage by United States Mints. The following statiment, kindly furnished us by the Director of the Mint, show s
the coinage at the Mints of the United States during the
of April and the four months of 1891.
mom b
1891.
1890.
1889.
1888.
Since Jan.
$2,774,901
7,073,598
$1,934,916
8,923,932
$1,569,141
8,063,269
$9,059,294
Dry Goods
Gen'l mer'dise
TotAl.
«
.^
,
4.562— The Qreylock National Bank of Adams. Massachusetts. CapiFrank Coenon,
tal, $100,000. William B. Plunkett, President
IsiPORTs
BONDS Held by National Banks.—The following interesting statement, furnished by the Comptroller of the Currency
hows the amount of each class of bonds held against national
tiank circulation and to secure public moneys in national bank
Otteription of Bonds.
tal,
$9,848,499
$10,853,848
$9,632,410
$51,071,038
120,031,473
$54,838,266
124,042,720
$2,111,965
6,947,329
1,
Dry Goods
Qeu'l mer'dise
$57,179,178 $47,406,577
120,287,351 143,792,4.52
199,029
Total 13 weeks $17 lA02,51l'$178,880,986$183.4G6,532'$191,
In our report of the dry goods trade will be found the
mports of dry goods for one week later.
The following is a statement of the exports (exclusive of
Pieces,
Value.
for the
specie) from the port of New York to foreign ports
ending May 5 and from January 1 to date
535.410 10,708,200 week
79.740
EXPORTS TKOM NEW YORK FOB THE WEEK.
797,HO
Foir Months 1891,
April.
.
Denomination.
Pieces.
Value.
:
86,000
9.000
22,000
Double eagles..
Eagles
Half eagles
1,720,000
90,000
110,000
S allars
89,1)00
448,000
"3,5i20
Toreedollari....
Darter eagles
"sisoo
117,000
Total gold
2,676,'' 00
.Btandard dollars...
1,920,000
708,270 11,962,400
102,000
2,676,000
51,000
giarter dollars
Imes
1,660,000
lee.ooo
Total 8llT«r.,
4,438,000
2,893,000
742,000
37,100
5,572,710
278,637
1,330,006
'i3,E06
13,3"l'6",:40
133.107
HiU dollars
One cent
2.072,000
May
—
in
50,400
6,«1«7,000
...
Total coin aire.
Changes
107,i'4'
500,240
FiT« cent(..
Three cents.
Total minor
12,300,322 12,300,322
4,B63,400
2,533,602
5:i,5 ;0
125,0K0
2 3,560
15,413,204 12,732,462
l!',8^3,480
3.=>,034,954 2^,106,606
1.
The Comptroller of the Currency has furnished
OB the following, showing the amounts of national bank
notes April 1. together with the amounts outstanding May
1, and the increase or decrease during the month
also
the change!* In legal tenders held for the redemption of baiil!
;
notes
up
to
May
1:|
Prev. reported.
$4,956,993
98,093,689
1890.
1891.
$7,292,731
111,655,657
$6,998,986
116,211,343
$123,210,328
Totalis week8.'$103,050.682 $121.267,625 $118.948.388
and imports of specie
The following table shows the exports
a°a *ince
at the port of New York for the week ending May 2
ISOO ana
Jan. 1, 1891, and for the corresponding periods in
1889:
EXFOBTS AND IMPORTS OP SPECIE AT NEW YORK.
Imports.
Exports.
Gold,
Week.
411,744
Legal Tenders and National Bane Notes to
1839.
$4,299,052
116,968,573
1838.
For the week..
8reat Britain
France
Germany
West Indies
Mexico
South America
All other countries.
Total 1891.
Total 1890.
Total 1889.
Since Jan.
1.
Week.
$3,142,526
6,872,810
13,5^0,377
1,748,776
220,770
82,950.000
1,400,000
Since]
Jan.l
$218,090
329 760
532.278
1,180.350
22.300
$7,044
16,456
52,373
342,558
$4,570,770 $26,504,339
2,945,911
86.6781
3.186.277 12,541,.503
$7,044
7.776
606,802
$1,491,50»
3.971,403
2,768.510
7.201)
ViT
—
.
,
9,
1
1
:
»
:
THE CHRONICLE.
1881.J
Sxportt.
Import*.
Mew Bonds and
surer.
Sinet Jan.
Vtek.
Oreat Britain
Franc©
Germany...,
Week.
1.
Since Jan.l.
V2l).4:i0
12,^84
7,970
All other couutrle*.
ing
is
a
206.060
43,000
282,100
64,733
1,230
77,«1
107.-2J8
new
of
list
soon to be
902,600 $5,040,!<22
107,334
Woat IntUoa
Koxicu
Boulh America
707n
HtockR AnthorlMd or Offerad.-Tb* follow
issues of securities now offered lor sale, or
offere<I
ASBKVILLR. NORTH CAROLfSA.->-903S,000 bonds (or olty
^
menis have l>r<<n aiilhurlzed.
BosTOR. M*siiACiiisrrTii.-»l ,000,000 Pnmifl Llhrsry ho-a» Ust*
authariiwl, and $500,000 4 per cent oertiaoatrs of luiUhtedacssSr
HMT
—
schools.
0,820
27U,lt51
$11,00.5
9.5(12,804
73,031
14.210
628.1.(1
OoLtiMiii/s,
Ohio.— t30,000 Fourth Street Viaduct bonds hsra ^aa.
»ntlic>ri7,(><l.
Total 1801...
Total 18W)...
Total ISSlt...
107,220
181,300
$5,840.4ni
8,306.777
6.413,070
009.708
Of tlio above imports for the week io 1801 $1,150 were
American f?olil coin and $1,235 American silver coin. Of the
exports durinjt the same time, $4,570,770 were American
gold coin and |7 were American silver coin.
Railroads in New York State.— The results for the quarter
and nine months endmg Mch. 81, 1890 and 1891, were as below
given, compiled from the reports made to the State Railroad
Camton, OHIO.— $(0,001 Itonds have been authrrlicd.
Datton. (Hill..— 9200,000 street Imi.roveiueut bonds! hare
per cnnt Itonds. parable In 30
Sears, re<leomablo to 10 years, will bo ofTcred at oubllu aiuillon on
une 9 at Oreat Falls.
NEWTON, Mass.— •OO.tKM) wst«r 4 per cont bonds, due 1030. Bids wUl
bsreoolvod by John A. KenrUIr, TnM»-iiriT, till .May II.
NosroLK & Wkhtkkn Kaii.koah.-.Ncw preferred stock Is offerad t«
oomraon aud j.referred xharehnlderx iif recorcd May 20. Sec advertiseinont in nnnlbor enliimn for details.
QOINCV, Ii.i.iN«>t8.-t227.(KK)4 m-r cent rrglotervd refunding bonds.
duo ,Iuly 1. 1911. Bl(l« will be received by George H. WsBWr.
Mayor,
till
SraiNUFiKt.ii,
Commiiuioners:
HKW TORK NEW HAVEN & HARTFORD.
OrOMcamlnKR
Operating exi)eu8eii
l,044,8:i8
Net earning....
Other Income
$847,4.57
Total
Int., rentals <k taxes.
$904,93.5
57,478
403,590
$501,345
Surplus..
i,897
80.121
$264,358
$1,588,490
2,763,4-8
1,236,032
$1,477,454
KANnATTAK ELEVATED.
>~Quar. eniliiig Mch. 31.— ^^tne moi.end.3feh. 31—,
v
1890.
1891.
«2,316,737 $2,483,828
1,235,028
1,306,299
OroHK eamlnf^
Operating expenses.
1889-90.
$6,845,468
3,652,278
Net earnings....
Otber income
$1,081,709 $1,177,529 $3,193,190
21,500
35,000
64,500
Tot.ll
Int., rentals <& taxes.
$1,103,209 $1,212,529
505,864
596,696
—The
card of the Mercantile National Bank of this cityin the Chronicle, undor the heading " Banking
and Financial ;" also the last statement to the Comptroller of
the Currency, in the usual adverlisinj? columns. Under themanagement of Mr. Wm. P. St. John as President, and Mr.
F. B. Schenck as Cashier, this bank has run up its surplus to$950,000, in addition to the capital of $1,000,000. Theoorrespondence of out-of-town customers is invited.
1890-91.
$7,301,447
3,6S7,473
$3,613,974
78,000
found
M. ¥. and Brooklyn Has Secarltles—Brokers' Quotations.
SAS COMPANIES.
Brooklyn G's-Iilght
Cltlsens' Oas- Light
Bonds. 5s
OoDBotlilsted
Surplus
$597,315
$1,773,474 $1,904,539
$615,833
Bonds, 6a
Vasflaa (Brooklyn)
Scrip
1891.
'18S9-90.
Gross earnings
$1,381,573 $1,5:17,042
Operating expenses..
769,153
864,405
Net earnings
$592,420
552,749
Int., rentals c& taxes..
Balance
$39,671
1890-91.
$5,939,249 $6,157,078
2,991,331 2.954,042
$672,577 $2,947,918 $.3,203,036
582,915
1,663,457 1,722,997
$39,662
Mutual (N.
Y.)
»0
103
KM)
99
nil
110
118
100
1»4
lUO
People's (Brooklyn)
Willlamabnrg
Payments.
Steelpt*.
lOoin Oeri
Coin.
1891.
1889-^)0.
1890-91.
$3,011,001
1,866,671
May
2
*•
2,139 ,725
2.28S ,599
1,766 ,018
2,539 00
5
"
"
"
1,843.238 133,258,082,
2,740,618 132.715,689'
2.3 19.339 132,817,169!
2.50O.H69 130,412,7741
2,901,949.130,433.543
3,111,421 126,743,282'
1.673, ,721
1.709 .381
4
"
6
7
16,103,189
9,624.803-
1.5,677.073
120. 140
0,»5«,787
g,4»3,«07
9,743.107
0.597,038
10,552,7OT
1".,
17.3rt2,7'>5
$161,897 $1,001,057 $1,144,330
51,895
22,607
50,285
ToUl
Total
Int., taxes
$131,190
168,648
$184,504 $1,051,342 $1,196,225
629,077
179,073
616,162
Aaction Sales.-The following were recently sold
by Messrs. R. V. Harnett 6c Co.
def.$37,458
sur.$5,431 sr.$435,180 Br.$j67,148
BtWFALO ROCHESTER & PITTSBPRO.
^Quar. end'g Mch. 31 .-^ ^Nine mot. end.Meh.3l-^
1891.
1889-90.
Gross earnings
$409,016
Operating expenses.
278,53
$585,146
456,309
$1,404,333
953,636
1890-91.
$1,799,791
1,354,424
Net earnings..
Other income
$130,445
4.333
$128,8.37
$150,697
$440,367
5,027
12,933
16,811
$134,818
167,127
$133,864
170,559
$463,622
477,164
$462,178
512,251
$32,309 det.$36,695
def.$13,532
def.$50,073
8
12,117,174
16.350,663
18.510,915
10,466,4341
.1
& rentals
at auction
Bondt
Sharet.
?5.000 No. Carolina -9,1919.134
$ 1 5,000 Prescott & .\ rL Cent.
J4J... 84i
R'y 2d Inc. 69. 191
91 7.000 Sun. & -Vort amb. St.
J J. JulT,
R'y Ist 6e, 1909.
1891, coupons att;. bcd.91.000
40 Standard Gas-L. Co. pref. 80
700 Ohio Central EK., i(S100
each
$280
1 ChomioRl Nat. Bank.. $4,675
20 Continental Nat. Bank. ..130
:
The following were sold by Messrs. Adrian
Son:
11.
Muller
<fc
Bortdt.
Sharet.
Total
taxes
OttrreiMy.
<.l
$109,590
21,600
Int.,
Vi8
lOS
13*
Balanett
Dote.
Net earnings. .
Other income
..
inj
lOft
ilia
$705,939 $2,67?,743
544,042
1,677,686
1890.
^.,
I
United States Sab-Treasury.—The foUowinp; table shows'
the receipts and payments at the Sub-Treasury i.i this city, as
well as the balances in the same, for each day of the week.
$627,935
518,315
Balance
S7
ISO
'
Bonds, 6s
108
39<i
39>i MetronolIukDi Brooklyn).. 100
M unlclpsi— BoDiIfl, 7s
,102
11.5
Fulton .Munlcliwl
120
Bonds, lis
IiK)
10-i
EanlUble
190
Bonds, 6*
lUB
,,
Gross earnings
Operating expenses
& rentals
.Bid.
„| 84
$1,284,461 $1,470,039
LONG ISLAND.
^Quar. ending Mch. 31.—, —Nine mot. end. Mch.31—,
1890.
Gftft
lerseyCity A Hoboken.
Metro uolt tun— Bonds
lift
h.5
...
OA8 COMPANIES.
Ask.
Bid.
inn
$3,257,690 $3,691,974
1,484,216
1,787,435
DELAWARE LACKAWANNA & WESTERN LEASED LINES.
^Quar. end. Mar. 31.^^-.ViM« moa. end.Mar.3l-,
1890.
25.
—Messrs. E. D. Shepard
Co. have assumed the businesw
of the late A. T. Post, broker in inTeslment bonds. The card
of the firm may be found on the first pane of this issue.
will be
$2,614,293 $2,.571.673
186,560
191.813
$689,018 $2.80O,H58
424,660
1,212,368
May
Ohio.— {25,000 street Improvement bonds are authorised.
&
31 .-> ^Sine mot. end.itrli.ai—
1889-90.
1891.
18ilO-9I.
f2,S69,591 $7,901,419 $8,487,77H
1,900,094
5,287,121
5,910,105
^Quar. ending ileh.
1800.
$2,392,285
bsefl
w,^-
autbi>rli!v<l.
GaSAT Vk\Ax. Montana,—950.000 6
40 Nat. Broadway Bank.... 280
$6,000 can. La Fay'te * Chle.
117%
74 8thAv. RB..$100ea.l95-200>9
Ak 1st 7s, 190 1. Mi8
$3,000 BelleT. A So. IlL KB.
39 Thiirber, Whylandi Co
110
1st 8s, 1896. AAO
piff.
lOO'a-lOm
$460 Tol. Poo. A West. KR
100 American Ex. Nat. B'k..l52
scrip for couiwns from Ists.lOO
Leather M'f'rs' Nat. fl'k.280
12O0
4 Central Trust Co
$1,300 8lh At. KK. 6s, scrip,
,
Balance
df.
,
NEW TORK 4 NORTHERN.
(iuar.end. Mch.3\.
.
,
^Sinemot.end.Mek.3\.-,
1890-91.
$3.51.038
1890.
$430,230
352,950
$8,922
$77,280
$62,770
494
Total
1889-90.
$101,997
93.075
$13,132
Net earnings.
Other Income
1891.
$121,710
103.578
Gross earnings
Operating expenses.
Int., rentals
—
152
1,277
384
$13,626
18.820
& taxes
Balance
$9,074
20,550
$78,557
56,470
288.268
$63,154
74,689
1890.
Orosscamings
$1.52,.597
Oper. expenses
142,130
Net earnings
Int, rentals £ taxes.
df.
$10,462
74,962
1891.
1890.
1891.
$170,039
105,126
$674,183
476,985
$752,402
510,571
$14,913
74,789
$64,000 def.$09,876
BTKACUSE BtNOBAMTON
ft
$197,198
216,230
$241,831
217,582
common
Net earnings
Interest, reutt.l*& taxes
Surplus.
107%
FAA
$43,000 Ga. Sou. * Fla. By
71
IstOs, 19'27,JAJ
$1,000 C^lo. MU. A St. P. B'y
(Dubuque IMr.)
1st a«,
i. f.,
»*••
1020, JJkJ
$3,000 Union Ferry Co. of N.
04
1st »s
Y. & Brooklyn
OSM
20 Williamsburg City Fire
Insurance Co
330
J^auliluo aufl IftuimcliiX.
THE MERCANTILE NATIONAL BANK
YUUK,
OF TUK CITY OF NEW
No. IfM Rroadwiir.
WILLIAM
P. ST.
def.$19,032 «ur.$24,240
& ProSte, 9*50,00O
JOH V. PrvtIdsat. raaD«RI'"it B. SCHMNCK. «
JAMBS V. LUTT, Ats'stsnt Oa<bisr.
ACCOtl.tTS HOLICITKO.
9l,0U0,00« surplus
Capital,
•
I
I
NEW TORK.
^Qitar. etui. Mar. 3'l.-,^Nine mot.end.Uar.Sl-,
180O.
1891.
189001
1880-90.
Gross earnings
Operating exi>eiues....
1914,
246>a
. .
def.$3,l99 def.$11,476 sur.$22,082 def.$ll,535
8TATEH ISLAND RAPID TKANSIT.
^(iuar. end. Mch. 3\.~. ^Ninetiu».end.Meh.3l—
Balance
7NaugatuckRR
2 Chemical .N at. Bank. .4670
10 Lawyers' 1 Itle Ins. Co... 150
100 Brooklyn Oas-Llgbt Co. .100
6 Thurber, Whylaud A ijo.,
$153,643
102,277
$149,242
102,530
$640,820
355,021
9624,310
342,113
$33,3ii8
44,900
$46,712
44.905
$290,809
135,362
$282,201
120.933
$8,463
$1,807
$150,446
9102,,268
Spencer
Trask
&
BANKRH8.
Co.,
Noa. 16 and 18 Rroad !«trect Kvw T»rk Olsr. l4
PUOVIDaNCK C
liAUAToUA. .N. Y;
ALBANY
Y.
THAN!«Af<T A GKNKRAL t»\.^VLlSU
.N.
AU elaasss
of SeoorlUea Bnocbt and
Bai««uamiaMi«o.
SoMca £ow
.
THE CflRONirLE.
708
gfeje
New Orleans, commercial, 40c.
selling }4 premium
per $1,000 premium; bank, $1 00 per $1,000 premium; Charleston, buying par, selling i^ premium; St Louis. 90c. per $1,000
premium; Chicago, 70 cents per $1,000 premium.
par,
^^nktvs' ^axette.
DIVIDENDS.
;
United
States
Bonds.
The closing
August 1 1891.
Cash, or scrip convertible into stock tiU
,
3 P.M.
WAI.I. STREET. KBIDA*. MAY S, 1S91large
Money Market and Financial Situation.—The
The
in the Bank of England rate
exports of gold and the advance
week in
discussed
to 4 per cent are the subjects most
time the gold exported went to the
financial circles. For some
desire on the
Continent and the demand was attributed to a
Doex-cp
68,
68,
68,
68,
68,
toJ'ly,'91
reg.
cur'cv,'95
reg
cur'cy,'96
reg
cur'cy,'97
reg
cur'cj,'98
cur'e.v,'99....reg
this
increase their
part of Germany or Russia, or both of them, to
England
gold supply; but now a portion of the exports goes to
*Tlus
la
—
May
May
2
J.
J.
J.
J.
J.
&
&
&
£l
&
J.
J.
J.
J.
J.
The meeting of the Advisory Committee of the Western
Traffic Association in New York May 6 was an event of importance which had been looked forward to with some eagerness, since the failure to get a quorum in Chicago had lent an
unusual interest to the matter. The good attendance of leading railroad officers here, the general harmony of the meeting, and the actual dismissal of a rate-cutting agent, have
been all that could be desired, and without any outside
obstacles in the way would probably have furnished quite a
Btimulus to the stock market.
The general circumstances of the crop situation, on which
the buoyancy in stocks the past few weeks has been largely
b^ed, remain almost unchanged, notwithstanding the frosts,
and it is stated that France will reduce her duty on foreign
•wheat about 10 cents per bushel, showing that her officials
expect a large requirement outside of her own product the
next season. But the wheat market in this country has
toppled over, as prices for future months had been forced up
to high figures.
The open market rates for call loans during the week on
Btock and bond collaterals have ranged from 3 to 6 p. c, the
To-day rates on call were 3 to 6
average being 4 p. c.
offered.
Prevlously reported.
739,000
889,000
963,000
905,000
1
month
In
•
local purchases of
The
to date.
8.
I
;
100
101
120
119
120
11866
113
'115
117
•1191a
'122
no sale was made
Governmeat purshown in the folPneepaid.
Ounces
purchased.
175,000 SO-9760 a ^-9840
326.000 $0-9950 » fO-9970
468,000 giO-9850 ® $0-9865
414,000 itiO-l)815 a $0-9840
a
'Local purchases
Total
May
119
•II9I3 'II9I3 'lift
I20I4 •120
*120»«
'II912 •ligia 11913*11914 •119
'113
113 '113 •113 1*113
'115
*115 *115 *115
'115
•117
*117 *117 *117
'117
'119i« *119i3 *119is*119ia II9I3
•122
*122 '*122
'122 '•12V
the price bid at the morning board
more like an ordinary exchange movement
London situation. It may or may not be a
May
7.
*100
100
100
100
101 101
•101
101
1201* 12019 'I2OI4 •ViO
GoTcrument Purcliases of Silver.- -The
chases of silver in the month to date are
lowing:
going
consequence of our silver law of 1890 that gold is now
satisfactory
out so freely, but however that may be it is not
in considerto WaU Street to have the precious metal leave us
which
able amounts, and it engenders a feeling of caution
checks the buoyancy of the stock market.
May
4.
reg Q.-Mch. 100
4128,1891
4'a8, 1891. ...coup Q.-McU. ll;l
120i«
res Q.-Jan
4s, 1907
1191a
Dostamii'dint.pd.
coup. Q.-Jan '1201s
4s, 1907
m
this looks
Hay
Periods
May
6.
Interest
Chicago & Alton (quar.)
pief. (quar.).
do
do
Cleveland & Pittsburg (quar.) gu.
Beaboard & Eoauoke
1m4-4'I la iieoua.
Fort Wayne Electric
Thomson & Houston Elec. com..
J«»
pertinent to the
have been
bonds
Board have been as foUows
prices at the N. Y.
Railroads.
and
—Government
featureless.
Name of Company.
*
LH.
[Vol.
1,383,000 $0-9760
each week are not reported
till
a
$0-9970
Monday of
the following week.
State and Railroad Bonds.— Sales of State bonds at the
Board have included $10,000 Alabama class "B" at 1081^^; $3,000
Tennessee settlement 3s at 71 and $5,000 5s at 102^; $3,000
North Carolina consol. 4s at 99?^; $5,000 South Carolma 6s
Brown
consols at 98.
Railroad bonds
,
have not been dealt
m
.
,
i
so largely
^i.'thw
week, the principal activity being in the same low-priced
bonds that have recently been in the front. Atchison
4s and in4s and incomes, Missouri Kansas & Texas
comes, St. Louis Arkansas & Texas 4s and incomes all
roads in
of these being the securities of large reorganized
the Southwest—have been among the issues that met
with the largest demand. Reading incomes have also been
traded in considerably, and Hocking Valley 5s and 68, Mo5s, Oregon
bile & Ohio general 48, Northern Pacific consol.
Improvement 5s, South Carolina incomes and Texas & Pacific
mortgage 58 awi 2d incomes, have all met with a fair busiThe dealings in these bonds ruling at low prices are
ness.
the income
partlv on margin, no doubt, and the prices of
prospects
bonds in particular must fluctuate with the varying
Terminal bonds have
of the respective companies. Richmond
andbb;}^ tor
been neglected, and are lower at 96 for the 1st 6s
advanced
the 5s. L. N. A. & Chic, consol. gold 6s have not
—
Prime commercial paper is quoted at 5C<i6 p. c.
The Bank of England weekly statement on Thursday showed
a decrease in specie of £540,000, and the percentage of reserve
to liabilities was 33-35, against 04-81 last week; the discount with the stock, and sell at U^. Oregon Improvement 5s sell
know what the
rate was advanced from 3i^ to 4 per cent. The Bank of France
at 671^, possibly because the public does not
shows an increase of 14,600,000 francs in gold and an increase mortgage covers. Prices of all the above bonds, with the
of 1,875,000 francs in silver.
range since Jan. 1, wiU be found on pages following.
The New York Clearing House banks in their statement of
Railroad and Miscellaneous Stocks.—The stock market has
2 showed an increase in the reserve held of $468,175,
May
advance
and a surplus over the required reserve of $7,443,300, against at length shown a moderate reaction from the steady
which had continued for some time. The exports of gold, kept
$6,975,125 the previous wees.
easing
up on so large a scale, together with a natural chiet
up of the market from realizing sales, are perhaps the
1890.
1889.
Differen'sfrom
1891.
in
May 3.
May 4.
Prev. week.
May 2.
cause for the lower prices. There has been no drawback
p. c.
Capital
Surplus
Loans and
disc'ts
Circulation
Net deposits.
Bpeole
Legaltenders
Beserve held
I«gal reserve
Bnrplus reserve
I
60,772,700
63,606,000
404,465.600 D60.2,553,100
3,474,400;inc.
9,S00
407, 66,000 Dec.2,986,3iJ0
71,846,000 Dec.l, 309,300
37,388,800, Inc 1 ,030,900
109,234,800 Dec. 278,400
101,791,500 Dec. 746,575
1
.
7,443,300llnc.
468.175
61 ,062,700
58.464.31)0
60.762.700
53,452,700
399,772,400 417,8 10,"00
3,679,500
4,117,700
406,061,500 440.500,500
77,940,300 83,218,700
26,703,8001 36,429,000
104,644,100 119,647,700
101,515,375 110,125,125
3,128,725!
9,522,575
—
Foreign Exchange. The market has been dull and firm
most of the week, with an easier tone lately and a reduction in the asking rates of some of the leading drawers;
the Bank of England rate was advanced to 4 per cent. Exports
of gold have still been large, and for the week they amount to
$7,000,000, including $4,000,000 engaged for to-morrow. Actual
ratee are: Bankers' oixtv days' sterling, i Si\i<si 6i%; demand, 4 88i^(a4 88}4; cab'les, 4 88%^ 0)4 89.
Posted rates of leading bankers are as follows:
prospects of the
the general condition of business, nor in the
reported
erowing crops (since no material damage by frost is
of the Western
to cereals or cotton), and as to the meeting
York, it
Railroad Association Advisory Committee in New
from
was harmonious beyond expectations. It does not appear large
taking a
the course of exchange that foreign buyers are
the
amount of our securities for investment just now, and
prospect
higher money in London and still unfavorable
Argentine affairs is rather against an increase of demand
m
from that quarter.
•
.
.„
^,
,
.
particular stocks St. Paul has still been the most
prominent for activity; Burlington & Quincy and Rock Island
modhave followed with considerable transactions, all at a
made.
recently
erate reaction from the highest prices
Among
Atchison has been active, and on Thursday waa very strong—
been a
up to 34% -closing to-day at 32%. Chicago Gas has of Chifeature for some time past as a well known favorite
50i^, without
cago operators, and after selling up to 53 closes at
given
any new information except an unofficial statement
National Cord;
1890.
to the press showing good earnings for
Pacifies, Missouri
age, Louisville & Nashville, the Northern
England, and
Pacific, Union Pacific, Clev. C. C. & St. L., New
May 8.
Sixty Days.
Demand.
ot
some other stocks, have sold fairly, but without anything
the
Prime hankers' sterling bills on London 4 85 S4 85>a4 89 84 8915
more special interest attaching to-them than is shown by
Prime ooniiiierchil
83iaa4 83%
4
daily fluctuations on another page.
^ x.
Dooumuutary commercial
4 83
<»4 8314
Paris bunkers (francs)
5 21'4a5 20iS8 5 181895 17is
Among the "unlisted," Sugar has been less prominent than
Amsterdam (giiilders) bankers
40i8»403,e
4038*40'?,6
Lead not very active at 19; Cotton Uil
usual, closing at 86 J^:
PrankfnrT or Bremen (relchmarkslb'nkers 94'?8'*95
9538 89588
dosing at
a trifle easier at 26; Comstock Tunnel up to 24,
The following were the rates of domestic exchange on New _„. Silver bullion certificates have been more largely traded
23
York at the undermentioned cities to-day: Savannah, buying in, selling up to 100 and closing at 98}>^.
.
.
Mat
..
.
THE CHUONlCLIi
18M.J
»,
NEW TOBK STOCK EXCH\N0E-4Cr/V« STOCKS
May
Arllvr Hit. tilocka.
&
yiU'lilsoii Top.
BiiiiUt Ft".
Atliiiitlc Si rarlllc
C'iliadiiin I'acilUi
("f.iiaitu
33
.
rot. tr. cert
CMoBgo A Alton
Chicago Burlington A Quincy.
dlloago A Kiuitorn Illinois
Do
Do
19
&2%
32M
66
61% 65*
Paul.
pref
HA
no
pref.
St.
Do
Cideago
32
66
prof.
Chicago Milwaukee &
S2
120>«
32
126 129
8938 90>s
2dpref
Jo
1351a 136>I
79
TO^s
•27
28>«
A Northwestern
Chicago Rock Island & Pttoiac.
Chicago St. Paul Mlnu. & Oni.
Do
115
110>4
*83ia
64Hi
pref.
Clevc. Clnoln. Chlo. 4 St. L.
Do
pref.
Columbuti Hooking Val. <& Tol.
.
5%
79
•52
62
84H
651s
Do
pref.
Do
1st pref.
Do
2d pref.
EvansvlUe & Terrc Haute
Great Northern, pref.
Iowa Central
pref.
Lake Eric A Western
.
pref.
LoulHvllleA Nashville
Louisv. New Alb. A Chicago.
Louisville St. I.ouls A Texas.
Manhattan Elevated, cousol.
Mexleau Central
Michigan Central
Milwaukee Lake Sh. A West.
Do
Minneapolis
A St.
I
|
Do
.
Lake Shore A Mich. Southern
LouK Island
pref.
Louis
79%
-5Sl9
'f>\
•78% 7»%
84
84
64% 66%
64%
'94
96
'84
86
6678
96
86
65% 66
'91-s 06
81% 81%
92% 92%
80% 81%
28
2838
93
93
28^8
•14
15
IO6I4 IO6I4
•14
10578
22
•94
'21
22
951s
-78
•11
15>a
241a
7138
15
•12
Do
pref
A Western
„
N orthcru
•227
104
5
12
79
81
4%
•4% 5
•10% 12
15's
15% 15%
25
7008
25
72
40
40%
'99
15
Pacific
Do
pref.
*8i4
32
S%
327b
17
56% 56%
27
71'b
•18
2738
721*
Ohio A Mississippi
19
Ohio Southern
•16% 171s
Oregon R'y A Navigation Co '76
7r
Oregon sh. LinoAUtah North *28
28is
Peoria Deratnr A Evanavllle •21
22
A Read., vot. trust, cert.
Pittsburg Cinu. Chic. A St. L.
Phila.
Do
pref
Richmond AWestP'tTcrminal
Do
pref
„.
Rio Grande Western..
34% 34%
1738 17%
61% 61%
18
838
•31
15
103
A San Fran.
Paul A Duluth
Do
Lou.
*28
•91
pref
Paul Minn. A Manitoba
Southern Pacific Co
107
St.
17% '16%
'76%
28
28% 27%
21%
33% 34
33%
„
Do
.
Union Pacific
Union Pacific Denver
Wabash
pref.
Do
„..
A Lake
50%
,.
A
50
87
513^
•2i% 23
Gulf
Do
Wheeling
•45
•80
'.
11% 1114
22% 23
17
62
17
62
18%
24%
IT'S
I
3378
17%
62%
18%
Oil
A
Cousoliilatcd (Jas
Dlstilliui;
A
Co
72
125
pref
Kiutli
Lead Trust
Auicric.iii Co
Ori'gon Iniiirovemeut
Pacific Mail
Co
Pipe Line CerUficatcs S
Pullman Palace Car Co
. .
"67
'28
'92
135
Do
A
31%
80
i
pref
Western Union Telegrnpn
*
These arc the price*
76% 78
6%
•50
•15
'
1,420| 10
Mar.
Jan.
Jan.
Apr.
1,100 44
500, 29
6%
64
16%
'8%
9%
27% 27%
14
14
57% 58
94% 94%
80%
27% 2838
7878
'12
93%
—
79%
27%
93
78
id
.
'12
14
•75
80
80
103% 103% 101
103%
24
24%
70%
23% 24
7178
69
42
40% 41%
42
103
'95
70'8
•95
68
20%
16
64%
27%
71%
19
18
-16
'16
17
16% 16%
54%
26% 27%
54
7038
69%
54=8
7138
18%
16%
19%
18
2505
'18
•16
77
76% 76%
*27'8 28% *26
27
2078 21
21
21
20
33
33 08
33% 3308 32%
1678
17
17
61
62%
1776
17% 18
72%
73
42
72
73
73
42
72
54
16
61
17
70
'40
*71
26%
7078
19
'46
'80
48
85
51
22
37
21
2779
27'8'
2778
28
51
51
61
90%l
.51
_51
927g
8978
03J4
5008
89%
93%
61%
37%
90%
93%
53%
38%
99%
I
I
'67% 70
'28
30
'92
94
60
86
49% 50%
21
21%
10% 10%
_.
11
2IO9 22% 21% 223b
86% 37% 360g 37%
76% 77%| 76% 77%
20% 20%l 20% 2078
50% 61% 49%
22% 22% 217g
'10%
10% 11
77O8'
135
12
12
12
100
850
050
500
740
068
1,066
5,558
1,563
260
246
100
1.956
125
135
22
Mar. 10
125
'46
•80
50
85
•44
80
49% 50%
21% 21%
10% 10%
21% 22%
36% 87%
76% 77%
20% 20%
31%
14%
17%
37
77%
19% 20%
1
Apr. 27
»
189% Feb.
3 140% Feb.
7
6
»
6 20% Jan. It
7 637gJao. 14
8% Jan. 14
16 66 Jan. 14
10 19% Jan. 14
6 129 Apr. 2
2 92% Apr. 9
9 103% Jan. 14
10
9% Apr. 21
3 30
May 1
20 15% Feb.
6 61% Apr. 28
Jan.
Mar.
6% Jan.
20
Jan.
13
Mar.
54% Mar.
2 118% Feb.
106% Jan.
^g
5
Mar.
jj^
g
29%
Apr.
18 Jan.
109 Apr.
24% Jan.
96 Feb.
93 Jan.
111 Jan.
6% Jan.
12% Jan.
Mar. 24
96% Jan. 27
18% Mar. 21
90% Mar. 6
73 Feb. 19
100 Feb. 18
378 Mar. 18
8 Mar. 18
11% Mar. 14 16%ADr.
19% Mar. 6> 26 May
60% Jon.
26
93
32
Mar.
•226 Mar.
15% Jan.
500
7% Jan.
800 28% Jan.
73%
44%
Apr.
Apr.
21|100 Apr.
22 104% Feb.
2 14% Feb.
70 Jan.
31% Feb.
22% Apr.
56% Apr.
41% Jan.
26 271 Feb.
21
2'
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
t
8 06% Apr.
7 82% May
Jan.
71%
7
1
27
15
6
4
S
15
14
10
14
30
1
27
7
30
3
10
20
10
28
28
1ft
8
18% Mar. 17
6 11% Feb. 17
2:
6 40% Feb. 18
220 13% Mar. 12 16% Jan. 14
1,105
14,580
58,047!
1,600
,
52% Mar. 19 57% Jan. 14
21%Jan.
63% Jan.
14
1,346
24,848
2,759
2551
Jan.
65
Mar.
Jan.
19
14% Jan.
28% Mar.
12% Jan.
48
16
Jan.
J-ii.
67% Jan.
J
55%
200 100
I120
9%
700|
56
50 24
200 85
157 100
3,160
3.895
2
2
15% Mar. 11
n.
Jan.
Jan.
Jan.
Feb.
Feb.
Jau.
Jan.
Jon.
Jan.
23
127gMar.
2
9
5
7;
10'
6
2
10.
500 16% Jan.
2
e.
4I
81,565
May
41% Jan.
I.481| 21
1.892
13.990
16.240
8,905
3.025
Ajir.
Jan.
36'
a
8% Mar. 10
167g Jan. 8;
20% Jan. 26
67% Jan. 2
18
Jan.
80
74
Jan. 14
Jan. 80
lO'gJan.
18 Feb.
Jan.
Apr.
-a Apr.
35 May
18% Apr.
6479 Apr.
19% Feb.
17
7
13
28
23
1
27
27
7
2 76% Feb. 10
2 44 May 1
2 74% Apr. 80
5;i34%Mar. ao
6il22%Jan. 8
26 12% Jan. 14
16 70 Jau. II
15' 3'2
Apr. 27
5; 93
May 4
2 111 Feb
6
16 33 Apr. 83
7]
45
100 80
50
84
48% 4878
21% 21%
10% 10%
20% 21%
56
76
72
00
410 23
107%
29
23 98 Jan.
10 29% May
3,518
1.043'
30
93
90
33,950
310
135
•28
30
90
90
Mar.
Mar.
15
17% Mar.
48% Jan.
1,.550
1,338
17%
52
111% Feb.
50 11%
500 57
1,050 23
9,891
1
1
1
6% Apr. 20
100%
1,879
4,140
'11% 12% •11% 12%
'67% 70
'67
70
'28
2.029
6,276
43,082
3,664
2
3 115% May
77% Jan. 20 88% Apr. 23
88% Mar. 7 667gMay 5
890 86
63,203
16,160
U
1
93%Jaa.
67% May
May
66% May
63% Mar. 6 80% May
845
2.'30
72
42
73
8
2 97%
111% Apr. 28
Mar. 18 138% Jan. It
315 130
17%
77
27
20
33
16
61
7
Jan.
Jan.
JbD.
332,210. 60%
1.453 105%
10,100 102% Mar.
100
102%
13%
1 97, Kel>.
64% reb. 10
2 M%reb. 10
6 130 Jan. S
2
41% Jan.
600 83
14
•75
ol
115
"' 123% Mar
76%
I05,a09{
6,e&0|
00,413
125
88
89
9978 100
105% 105% 106% 107% 106
30% 32% 31% 32% 80%
14% 16% 14% 14% 14%
17% 18% •18
18% 17%
31% 31%
14% 1539
18% 18%
'45
*80
1
I
21
50% 51%
38% 39
99% 99%
47
47
88
90
46
101% 101% '100
96% 98% 98%
109 109% 109
19% 19% 19%
17% 17% 17%
32% 32% 31%
38% 38% 38%
70
72% 70%
194
99% 100
36%
'36
iron
108% 100%
135% 135%
8%
54%
26%
70%
18%
['125
70
30
94
106
86
191
Silver Bullion Cerlificates
Teunessec Coal
*8
72
2208
9279
1
.
86% 88
60
63%
'96
06
62% e37g
113%113%
M
Mar 10 84% Apr.
24"n
40«Mar. 10
Jan. IB
720 72% Jan. 6 80% Apr. 17
1,810 48 Mar. 7 52% Apr. 27
_. „ ....
5,442 106 Jan. 2fl 122% Aiit. 29
20 •'"h. 24 31% Apr. 30
, ..iKi
86
17=8
11% ll%i
11
09
30
93
50
80
76%
17%
61% 61%
73
50
i:attleFeed'gCo.i
Do
„ atmnal
N
126% 126%
143,056
100
'25% 27
600
•83% 86
260
64% 66% •64% 6479 46,228
•94% 96
93 05%
16
'84
72
22
90% 91%
.
Edison (jdneral Electric
National Cordage Co
31%
•29
LOWMt.
2
16% J-tn. 14
20%rfan. 13
61 Jan. IS
88 Feb. 16
52% Apr. 28
24% Jan. 14
11% Apr. 25
2S7g Apr. 34
37% May 5
79% Apr. 37
23% Jan. 14
I
Co
Do
pref.
,.„.
Am. Sugar Ref.Co.,teM,p. ctfs.
Do
pref., temp. ctfs.
ChicagoUasCo
Colorado Coal
49
2878
2138
20% 20%
5378 5379
53% 53%
38% 3738 3»% 36% 37%
233 •227 233 •226 233
1708
17% 17% 167g 18%
8
8%
8%
8
31
81
31
31
31
2138
5378
1678
raiHcelliineotiii Sioclia.
American Cotton
32
17% 17%
103% 102% 102% 10J%
13% '13% 14
13%
66% 68 '66%
67
29% 29
29% •28%
'41% 42%
27% 28
Erie.....
pref.
» isconsin Central Co
32
49
112% 112% 111% 111% 112% 112% 112% 112%
112
18%
'45
21%
35% 36
76% 77
21
21%
pref
50% 60%
117% 118%
77
27
78
28
•41% 42
43
73
15%'
18%;
I
17%
2478
72
4U% 42
'94 108
31
16
72% 73
73%
10708 10709 106
31
15
32
26% 27%
70% 72
18% 19
•16
93
31% 31%
15% 15%
18% 18%
.
Texas A Pacific
Toledo Ann Arbor A N. Mich
Toledo A Ohio Central
30
94
108
27%
72%
76% 77%
'67
•28
69
'16% 17
•55% 56
18
1778
8%
'31
18
61%
175»
17
55»8
17
I8I4
'8%
8
55O8
2678
7138
72I4
4239
pref
,l9t
6
79
6
12
7078
•227
233
17%
32
16%
72% '72%
4238
42%
73% 73% 73
pre'^.9
RomeW atertown AOgdensb'g 111%111% 112
St. Louis Alton A T. H., pref
125 135
St. L. Ark A Tc.^., trust rec..
•11% 12% 11
St.
St.
•6%
79
'4
•4% 5
5
•10% 12
•10% 11
14% 15% 15% 15% 15
15
•4
'10
24% 25
71%
40
40%
226
1778
81
103% 104
5
'i0% 12
•99
233
17%
14
'78
71
103
'226
233
17% 18
*16ia
pref.
82% 33%
6^8
790,
106% '105% 106% 105% 105% 105% 105% 105 105%
22
24
22
21% 21% •21% 22
'20% 21%
'94
95
95% '94
05% 93% 93% 93
93
.
.Do
•6%
111% 110%11108 110% 11008
93% •U2% 94
79% 80% 7878 797g
2778 29
28% 2878
'14
15
11078
91
79
103% 103% 103% 104
81
104
95
•78
29
111% 112%
103% 10338 103 103% 102%
-13% 14
•13% 14
'13%
Do
66% 66% 66% 66% 67
Istpref. *66ifl 66%
•29
30% 28% 29
29
3014 *29
2d pref.
Po
^,
New York Lake Erie A Wesfn 21% 22
2138 21%
21% 21»e 21%
Do
54% 54% 54% 54% 54
54% 5379
pref.
New \ ork A New England
39=8
39% 40% 39
38% 39% 38%
Norfolk
88% M»»
'79
.50%
Week,
Bbana.
i
May
W^
111%111'9 111% 112%
^^
pref
251s
„,
Missouri Paoiflc
7216
Mobile A Ohio
40
40%
Ka.shv.ChattimoogaASt.Ix)uis •99 102
New York Central A Hudson IO314 IO314
•13% 141,
New York Chie. A St. Louis
New V^ork New Hav. A Hart
New Y'ork Ontario A Western
New York Susquehau. A West.
Wt
5%
33
6
7B»»
Friday,
7.
61ie 611s
-7
7
7
71s
•57
'55
65
60
'56
64
60
75
64
75
•16
•16
17% 16
ITis •16
16
'15% 17
17
J23 125 •123 12478 128 125
•123
1247g 123 1247(
89^8 89^8 '90
•89
90
91
91
89
89
91
•101
101 101
10114
102
101% 101% 99% 00%
9
8% 8% •8% 9% '8% 9%
9
9
9
*29
29% 29% 29% 29% 28% 28% 28% 28%
30
*14i4 14%
14% 14% 14% 14% 14
14% '14
141s
59% 59% 59% 59% 59
59% •58
59% 58% 58%
•41a
pre'« ^? Tex., ex 2dm. bends.
Mo.K. A
38% 84
S%
May
e,
lom
Illinois Central
Do
May
IWI.
I,
••••••fialMialMt.
Of tb«
Thunday,
Wednawlay,
».
83%
and Htut JAN.
91
Mar.
27i>8 28%
27»8
28
20% 28
S9*i
27
28%
24
136% 136% 136% 134% 134% 13478 I347g 133% 134% 8,778 129% Apr.
461
Mar.
137% 139% 137% 137% 137% 138
139%
136% 137% 31,226 131 Jan.
19% •1878 19% •18% Ig(l|) -18% 19
18
18
600 16% Mar.
60% 61
60
60% 59% 597e 59% 60
50
69% 2.655 56% Mar.
'7
7
7
73b
7
7
28
& Oa
May
511% 62
61% 61%
51%
119% 120>4 118% 119% 119% 180% 118% 119
•31% 82
•81% 31% 311% 80% '31
32
18% 18% IH% 18»B 1H39 18% •18
18%
52% 52% 62
63
•t>\
63
51
62
•31% 33
•31% 33
'.3<)
'30
33
S3
•125 129
126 127
127% 127% r.6 126
88«8 90
88% 897^ 8M% 89% 877g 89%
6tt
66% 6678 66
65
64
66
96% 96% •96% 97
ee7e 9«7, •06
07
64% 66% 63»8 651.1 6339 647g 63% 6418
Il4'8ll4'8 113% 115
1I38»113»B n3%114%
109%11U% 109% 110% 109% 110% 109% 11(109
'135% 136% 136 136
136% 130% 135% 137
7838 79%
78
79% 78
79% '70g 79%
28
28% 27% 27% 27% 27% •27% 28%
96
27%
28
13614 13614 '135
Delaware A Hudson
138%
I>elaware Liickawanim AWeat 138% 139»B
I9i« 19^
19%
Denver & KJo Orande
East Tennessee Va.
Tuetday,
4.
79
63
SSTg
6
79!\j
•Si's
•18
52>s
Idt prof
U..
33 Is
119!ti
,
.leniey.
'.,
May
2.
•6!%
'70
Southern
CI..
Monday,
Batnrdsy,
MAY S,
maing
for
LOWBM FSIOM
BIGHXar AKD
STOCKS.
70i#
87
87
82% 82%
100
99%
35%
•87
9^14
51%
38%
99%
j
99%
46
98
110% 109%
19%' 19%
17%i
17
,
46
100
9878
Klflia
190s
173b
104
9979
3578
90
'
27'8
4979
S»
-
..
-
27%
49% 49%
88% 89%
27
«8% 89%
«3
93% 93
52% 58% 51%
37% 38 >« 37%
98% 90% 98%
45% 45% 45%
10H«101% •99
9714 100%
99%
109% 109% 1007g
U)
19% 19%
Iti'e
17% 1678
93
63
38
98%
45%
26%
48% 49%
86% 88%
92% 93
50
61%
35% 87%
98% 98%
45% 45%
26
100
101
10179
100
99% 100%
4,960,
l&7gJao.
2.110 33% Jan.
52.747< .57% Jan.
Fob.
3,602 85
113.635 34 Jan.
3.800 33 Jan.
1,121' 94% Jan.
3, '290 41% Feb.
Jan.
002, 88
62,7061 73%Mar.
Fteb.
2,738 101
110% 110% 110%
12,444 17% Jan.
19% 187g 10
17% 16% 16T« I4,6'i6 11% Jan.
'29
'29
31
225 15% Jan.
81
37% 37% 37
87% 4.245 31% Jan.
3 30
3, 63
I7i
Apr. 33
Apr. S3
02% Apr. 10
27 OS
Jan. 14
63% May 6
80% Mar. IS
24 00% Apr. 30
3
3,
40
3 III
Jan. IS
Feb. S
16
10l7gMay
S 110% Kay
11
T
8
31% Jan. 17
3;
7i
19%
§7
61%
87
82
( Prices
30
30
377g
71
SS**
'87
I
81%
71%
00
t-2%
71% 71%
•87
00
ai% S2%
tron both Sxobaii ;«•.
1
87
81
87
81%I
Ex rixhta.
I
800 80
8.008 76
Jan.
Jan.
6,
a
87
«3
_
7
Feb. 18
32% May
26; 41%FM>.
71% 72%1H1,">00 66% Apr. 20 81 Feb.
190 190 ''lOO 193
417 184 Jmh. 5 106% Jaa.
189 189
188 188%
9i
99% 98% 98% 98% 98% 98% eS%!/.9W.<xw 06% Apr. 33 107% Jan.
"
36% 3578 35% 35% 35% 36
32% 85% 6,800 32% May 8 30% Jan.
31% '31% 32%
38% 87% 3x%
71%
72% 71
81% 82%
bid and asked no sale made
:
0878
47
101% 100
27%
Apr.
Apr.
1
SC
!•
14
IS
14
•
1»
'
.
1
IHE
710
NEW YORK STOCK
CHUO^lCLii.
EX.CHA.N(}E PRICES {CaatiaaQi^—iyAOTIVE STJOKS.
ilau
Jia7ige [satea) in 1891.
8.
Ask.
Bid.
H Indicates unlisted.
RHilroan Mncka.
35
100
& Vlckbm'gTI
& Susquehanna
100 tlOTis
94
Atlanta &Cliarlotte Air LTT.. •100
Belleville &. South. 111. pref....lOO U36
100 100 ifi
Airl.ine pref
Boston &N. Y.
100 29
Brooklyn Elevatcdr
100 34%
Buffalo Eochester & mtts
100} 78
Preferred
100 20
&Nor
Burl. Cedar Eapids
100 12
California PacilicU
Albany
1
Clilc.
100
& Atl.,Benef.
&
Cleveland
trust rect8.1I..
50
Pitlsbur)?
Preferred
5Js
8.
90
14
100
Kanawha & Michigan
4
100
Keokulc & Ucs Moines
7
100
Preferred
Ix)uisv. Eviins. & St. Lo., cons. 100
100
Preferred
IiOU.8t.L.&Tex. Seeprecedingpage
50 75
Mahoning Coal
50
Preferred
25
Memphis & Charleston
100
Mexican Nation.tl
60 JllSH
Morris & Essex
100
K. Y. l^ack. & Vvestem
100
19
K. Y. & Northern pref
100
8
Peoria 4. Eastern
81a Apr.
Feb.
152" Jan.
4ie Feb.
eiaMay
37%
14
25
86
6
15
Feb.
Feb.
261a Apr.
861a Apr.
8% Jan.
81a Jan.
4 Apr.
6I2 Jan.
6I2 Jan.
8
2 Jan.
901a Jan.
5
100
16
14
1
Feb.
Jan.
Apr.
Jan.
7
13
27
55
2812
61
514
May
Mar.
Mar.
Apr.
SECURITIES.
New York
CItj
108
95
104
7
150
We omit
Bank
for the
New York C ity, Boston and
week ending May
two ciphers
(00)
in all cases.
Capitol.
New York...
Surplus.
Loans
Specie.
LeaaU.
DepoHt*.
<
<
t
*
s
«
3,000,0
2.050,0
2,000,0
2,000,0
3,000,0
1,000,0
1,000,0
760,0
800.0
600,0
1,000,0
300,0
400,0
200,0
600,0
300,0
1,200,0
6,000,0
6,000,0
1,000,0
1,000,0
422,7
1,600,0
450,0
200,0
700,0
1,000,0
600,0
1,?07.5
L478..5
11,750,0
10,?38,0
1,840,0
6,7
1,1124,6
6.72.'5,ti
1,122,8
1,289.0
1,493.3
988,0
3,50^,7
271,8
103.7
6,517.9
563,9
CitlzeiiB'.,,.,
MC,0
421,6
Kassaa
600,0
760,0
600,0
600,0
2:H2.f
of
Manbattan Co
Hercliant8'
Mechanics*....
America.
Phesii
€31ty
Tradesmen's
Chemical
Mercliantft'
Exchange
Gallatin NatloD&l
Bntcbera' & l-)ro\ ere'
Mechanics' «& Traders
ereenwich
Ijeainei Mannfact'rs
Seventh National
State of New York....
American Exebange..
Commerce
Broadway
Mercautue
Pacific
Bepnblic
Cbatbam
Peoples'
VTortb America.
Hanover
IrrlBg
Market*
Fulton
8t.NicliolaH
Shoe
Com
&
Park
Kaat Biver
Ponrth NatlonaL
Central Nalioiiul
Second Natluual
Klntb National
Krat Natlunul
ITiird National
K. Y. Nat'l Ji.xcbange
Bowery
New
Benuan-Amerit^Q.,
Obase Notional
Plfth
.
United States
Xiincoln
Garfield
Plfth National
Bank of the Metrop..
WeetSide
Seaboard
Sixth National
Western
N'ationi,!
Vint NaUoual,B'klyn
Tstal.
6,4,54,0
^^.7^7,8
127,2
1,6'^7,6
2P4,ll
3,476.1
5,114.6
1,779,8
401,0
148,7
666,4
2,202,0
1.173.5
2,999,0
330,0
137,8
98,6
21,000.2
4.022.4
4,099.0
1.972.8
2,276,0
1.054.6
3311,8
tf'2,1
i.402.1
sn-.o
3,254,0
734,1
691,4
276.1
1,043.0
2,773,8
14,686,0
49),i;
4,367,0
96fi,7
10,:i31,7
1,219.3
768,1
5,951.8
2,247,6
3,769,9
13,195.8
3.008,0
2,T0<,9
2,941,6
900,6
Sl>7,4
664.6
1,601,3
!i87,4
731,6
103.6
266,2
1,106,4
SOI .'^
lg,lri'2,2
5.652,4
7,910,8
2,464,8
l,68'i,»
18,535,5
7,141,0
4,680,0
3,928.7
22.156,2
3,410,0
640,7
357.3
320 5
8,757.4
•.0.0
180,1
483
1
27'2,7
940,6
•/OB,!
61b.9
480,7
607,7
339,5
834.9
301,3
t0,1.4
230,6
157.6
876,1
220.3
783,0
88.'>,4
4 9.8
638.2
4,39l<,3
525.4
787.8
34M.7
630.1
191,7
617.0
4,0'J«.l
l.lf-7.1
404 5
1,067,3
1,401,2
2.426.0
3.136,1
2,815.2
10.676,6
4,668,0
2,8HH,8
2,743,9
3,862,8
3,486,4
8,801,8
1,793,4
4,016,1
2,047,0
3,807,0
1.660,0
10,593.3
3,»58,0
1
091,7
Sio,3
1,343,7
372.1
1,498,8
72, ,1
2KU,3
431,3
841,7
12,757,0
12.42.S,0
8.5-.;'2,9
2,965,6
10,81o,l
8,313,0
3,lod,.l
4,430,8
14,7706
28' 1,8
17'A5
3,107,11
;<,132 5
279,6
441,0
146,4
200,0
299,0
3.'.i81,3
839,1
420,7
142,1
4 150,0
2 429,0
4111,8
•J,Bi5,H
191,6
5 680.8
120,0
1,286,6
4,077,8
1,817.8
3,-216,0
6 270,1
5.007,1
1,988,4
42,843,0
25,709,8
1,086.0
1.2.j4,0
74,"
18,676.6
7.797,0
6,118.0
819,4
43'i,3
4.5ll3,-2
4.1'-i9.0
718,1
20.410,5
3,318,5
1,493,3
1
7180
698,4
20
,0
608,0
72u,0
417,0
i,7:n,o
1
I
28,o
137
3i8,3
9,»1,8
1
709,4
701,1
368,8
O4«,0
2£9.0
644,0
210.0
1.4i''A5
707.J
!C.
15
Mar.
150
Feb,
281a Apr.
123 Feb.
821a Apr.
Jan.
Jan.
Feb.
lOliaMar.
11% Mar.
21
18
Apr.
721a Mar.
26
80
83
Jan.
Feb.
Mar.
Ap».
Apr.
19% Jan.
15 Mar.
1031a Jan. 1081a Mar.
26 Jan.
28
231* Mar.
15 Jan.
201a Jan.
60 Jan,
57
48 Apr.
18
16 Mar. 16 Mar.
1818 15 Jan.
181a May
70 Apr. 81 Jan.
70
Feb.
42% Jan.
38
Ilia
9% Mar. 12 Jan.
44 Jan.
39 Apr.
40
821a
82
18
Fell.
24
May
May
Jan
38
Feb.
May 290
2fiO
23
34
G^a Jan.
514 Jan.
40
Jan.
oe's Jan.
38
08
145
Feb.
941a Apr.
ig^'s
Apr^
May
70
Jan.
Jan.
14
04
137
145
Feb.
Mar.
8.
Ask.
Bid.
107
lOZ
71
Apr.
••
'•
"
May
3,1:2,0
377,1^
2'22,9
186,0
141,0
112,4
1,340,0
200,7
839,1
680.4
113 2
447,3
518.6
11-9,0
461,3
200.0
31',2,9
IH.O
851,4
220.8
2.87:1.0
4
11....
18..,.
25....
2....
Loaru.
Specie.
f
*
S
Le^i.
'•
May
25....
2....
fhlln.*
Apr. 18....
"
May
25....
2.
daiptila,
..
iT.'Vn Oleann^t*
DettoHU.-^
»
9
S
3.491,0 377,130.3
121,3'20.8 4I2.S9;<,5 77,140,l'S3, 103.7 11.5, 651,3
121,.17-,7 4i:l.971,6 78.68 1.5 32, 982.8 416, 126,6
124.3-8,7 412.281.9 74,099,8 33, 919.0 414, ,9 5,8,
124,378,7 41)7,ol8,7 73,165.3 36 .157,9 410, ;5'2.:t
124,378,7 404,185.6; 71.848,037, ,388,8 407, 166.0
;i.493,2
634,907,9
3.491,7 876.821.
3.464.6 880.709,8
3.471,4 779,265,5-
1
Buscon.*
Apr. 18....
I
65,842.9 153,240,1 10.538.6
65,812.9 15.1,871.3 10,53.5.3
66,842.9 105,902,7 10,107.0!
35,793,7
35,793,7
3.5,79:1.7
458.8' 131. 287,4 3.259.7 67,957,9
h40,1 130, 388,4 3.279.9 98,351,2
4, 321,4 131, 941,0 3,253.4 101,053,3
4,
4.
29,370,0
30,112,0
95,917,0
95,419.0
90,678,0
31,47'^.0
the item " due to other baoKs.''
t Inula Jiiui,
660,0 2,139,0 67,496,7
296,0 2.133,0 62 981,&
747,0 2,138,0 e»,309,tf
lor Boaton and Plil:a-
Cltr Railroad Securities— Brokers' Quotations.
Atlantic Av., Bklyn.St'k. 115
Gon. .M.,5s,iyi,9...A<fcO
Bl'cKer ttl. s. irui. 1?'. -wtk,
l8t mort,, 7s., 1 900..J&J
Br'dvray t 7tli-Vv. -8t'k..
l8t mort., 58, i904 .J&D
2d mort., 58, 1914,,.JAJ
'^4
rt'way lat, 68, gu
2nd 68, int. as reut,, '05.
—
105
25
110
195
103
102
104
93
155
Brooklyn City- Stock
lat mort, 58, 1902..JifeJ 100
B'klyucnu^l'u 6b,, li*08 108
Bkn.o'y&N'u5a,1938 JJtJ 100
leutral Crosstowu — .-^c'R.. 150
Ist mort., 6s,1922.M&N 115
Cent. Pk.N.& E.Kiv.— stK. 122
Consols. 78, 1902 ...J&D 116
Ory Dk.K.B.& Bat'y— stk. 13S
l8t mort., 7s, 1893..J<lfcD 103
Bauk
120
107
27
112
200
105
105
105
93
180
103
110
102
160
117
125
117
188
104
Drv Dock B. B'y & B.—
F&A
100
irz
210-
St. F'ry-Stk.
Isl mort., 7», 1893.
426
(ft
Gr'nd
A&O
42a8t. .Mauh.A StN.Avo.
l8t moit., 6a, 1910.. MAS
2d .M,, iucome,88 ...J&J
HoQst, W,8t.& ^.^''T— StK.
Ist morL, 78, 1894. .J&J
Nioih Ave
Second Ave. — Stock
.
Ist mort., 58, 1909.M&.N
Slxih Ave.- Stock...
Third Ave.— Stock.
J&J 107
IstM., 58, 1937.
rweniy-third St.— StocR.. 235
.
l«t mort., 7s, 1893
175
212 Hi *aUatin
Gartiold
153
305
350
German Am. IVO
German Ex. 320
Germauia
300
Greenwich... 118
Hanover
318
Hud. KlTor.. 140
Im. & 'I'rad's' 430
312
291
185
137
4U0
4U0 420
480G jooo
480 500
4,063,2
3,8^2,0
3,3S3 G
3,926,8
3,973,2
4,106,0
l,92j,9
City
Oitizons'
5.l'00,7
(0:181
2,037,0
4,145,0
1,380.0
9,108,6
3,758,0
Irving.
Llth Ward... 200
Filth ATe.... laoo
165
lHO
275
195
138
197
141
249
1.2
245
itiTer.. 160
i'70
Deposit
300
iOOO
first
First N., 8. 1. 101
14tb Street.. 170
Ponrth
lO'i
110
242
106
43
114
52
107
110
lis
104
24(>
286-
110
ici"
1
Joulral
Jolumbia
235
104
40
112
60
200
100
100
110
102
235
273
iSiouK Li8t--Liatest prices of bank stoclu mis week.
BANKS. Bid. Ask. BANKS. Bid. Atk
Bid. Aak.
America
i.in. Exob... 151
Jiabnry Park
:W6
Bowery
Broadway... 285
2,53e,'.i
l'-',073,8
(
201
AT.— Stock
Eighth AT.— Serin, 68, 19 14 107
8cnp6»..
RUIlttl
BANK8.
3.178,0
60.772,7 63.600,0 404.465,6 71.846.0'37,388,g 107,166,0
Philadelphia Banks;
Capttnl dc
Survlug.
York.'
2,3(59,9
137,'i
2o2,(l
21'4,.^
140,ti
300,0
1,9:18.0
3,397.6
17,077,0
2SO,0
3,200.0
2,000,0
800.0
760,0
600,0
8,60<>,0
1,;^06.0
177.8
1,824.4
513,5
44X.6
1.28:2.9
6,0'.:0.0
200,0
780.0
600,r
100,0
300,0
300,0
600,0
300,0
300,0
160,0
800,0
300,0
600.0
200,0
26,J,9
838.0
989,7
213,0
11,260,0
9,162.0
6,665,8
7,679,0
12,784,1
4,4l'A0
11,764,1
7:, 2
2,698,0
1,000,0
300,0
44f.,0
1,190,0
582,0
686.7
489,1
2 067.0
i.b-M.n
1.651,1
944,1
422.6
l,6on,f.
.250,0
ork Connty...
Avenue
Gorman Exchange,
Oermaula
9,037,0
14.19B.7
4.742,0
10,022,4
2.047,2
1.847,2
2,730.0
7,177,2
4,420,3
l,99-.0
21,638,0
21,819,7
1,000,0
1,000,0
300,0
80O.O
2,0ul,8
669,6
2,662.0
107,3
•,i,000,0
Leather
Kichange
ContiiicntaL
Oriental
Importers' 4 Traders'
"^
i>l
Apr.
91a Feb,
Mar.
SECURITIES.
Ask.
Apr.
New York—6s, loan
Bahkb.
(00< omttled.)
I
Mar.
May
—
3
Bank Statement
2, 1891, is as follows.
Bid.
Jan.
1893 101
8.C. (cont.)— Brown con80l.6s.l893
1892-1898
65
Tennesaeo— Gs. old
108 14 North Carolina— 6s, old
J&J 30
1912
75
10
Comiromise, 3 4-5 6s
1900
Funding act
102
1913 103
New settlement, 6a
New bondB,J. &J....1892 1898 20
1081a
1913 101
3
6
5s
14
Chatham ER
70
1913
4
38
7
Special tax. Class 1
180
Virginia 68, old
1910 99 101
Consolidated 48
7
Gs, consolidated bonds
1919 12338 l-241a
68
68, consolidated, 2d series, roots.
Rhode Island— 6s, cou. .1893-1894 102 ...
91
3I3
3
68, deferred, t'strec'ts, stamped
South Carolina— Gs,non-fuud.l888
10419
5
105
88
1894-1895 102
Stamped 48
lOssourl-Fuud
SECURITIES.
Ask.
Bid.
1906
1906
CSass B, 58
1906
Class C, 48
1920
Currency funding 48
Alkausas— 6B,fund.Hol.1 899-1900
do. Non-Holford
78, Arkansas Central KB
1914
Xouisiana—7b, cons
to
113
80
98
15
MAY
PRICES.—STArB BONDS
38
Mar. 185
6
Feb.
36
Jan.
Jan.
15% Jan.
118
Sugar Refln. Co. trust rect8.1..100
100 t 18
Texas Paciilo Laud Trust
100
63
U.S. Express
100 140
Wells, Fargo Express
Jan.
152I4 Mar.
Jan.
NEW YORK STOCK EXCHANGE
Alabama— Class A, 4
Preferred
Highest.
Jan.
142
2538
16
100
18
100
100 5 3978
lOia
100
38I3
1 00
50 1290
50
31
35
100
6
100 3812 40
Ontario Silver Mining
Pennsylvania Coal
Phlla. Natural Gas
Postal Telegraph — CableU
Quicksilver Mining
Jan.
1091a Apr.
40 Jan.
Mar. 1481a
Jan. 110
Mar. 22
8
Jan.
pref
New Central Coal
85
771a Apr.
101 Apr.
36 Feb.
5 Jan.
143
104
2]i3 16
6
10
149
|153
Pitts. Ft. Wayne & Chicago... .10" 151
price this week.
No price Thuisday; latest
Do
Lehigh & Wilkes. CoalU
Maryland Coal
Minnesota Iron
Nai ional Linseed Oil Co
Feb.
4 Mar.
131a Apr.
301a Jan.
63 Jan.
in 1891.
(sales^
Lowest.
150
41
100
100 • 16
100 jioe
100 24
100 t 1614
100
Preferred
Columbus & Hocking Coal
Commercial Cable
Consol. Coal of Maryland
Laclede Gas
May
96
16
Mar.
6I4
Sange
8.
Ask.
100 147
Adams Express
38
Americi n Bank Note CoH
American Cotton Oil trust rec. 100 { 25
100 114
American Express
100 { 82
Am. Telegraph & Cable
American Tobacco Co., pref ..100 ;ioo
100 14
Brunswick Company
Buckeye Pipe Line
Chio June. Ky. & Stock Yards. 100
Mar.
15
Mar.
78
8
Apr.
Apr.
79 '6 May
25 Feb.
Feb.
Apr.
12% Jan.
la^s Jan.
51a
80
115
30
12
5
25
4I3
Illinois Central leased Uno8....100
Mar.
148
61a
12
Shore & Atlan.lf
11
PreferredH
100," 23
nint & Pere Marquette
100*
Preferred
100
61a
Oeorgla PaciflcH
71s
Oreen Bay Win. & St. Paul.... 100
3
100
HottJton & Texas Central
Dnluth
10.11a Feb.
3%
8l2
12
153
10
150
May
140
Feb.
Apr.
Jan.
Jan.
Apr.
100
30
30
3514 29
74
20
35
15
May
Bid.
Pittsburg & Western
50
Preferred
50 34
36
28
100 179 184 175
Heusselaer & Saratoga
lOo
St. Jos-ph & Grand Island
5
100 34
2612
St. Louis Alton & T. H
100 J 8
312
South Carolina
100
14% I514 14
Toledo Peoria & Westcrnl?
15
Toledo 6t. Louis & K. CityH
100
Virginia Midland
JTilMCflluiieous Stocks.
May
May
13<)
71a
100
100
100
100
100
Columbia <t Greenville pf
Des Moines & Fort Dodge
1621a Mar. 1671a
96
—
Cedar Falls & Minnesota
Highest.
Loioesi.
Iniioztes actual sales.)
(t
Inactive Stocks.
U Indicates unlisted.
iKAcnvE Stocks.
Alabam.i
[Vol. LII.
112
I72i2'171
1
192
Leather MCs' 255
Lincoln
340
Manhattan... 17.-.
^arketdt Ful 230
.hleohauios'.. 20J
M'ohs'&Tra'.
Mercantile... 219
Mercbauts'.. 156
Merch'U Ex. 123
5',,
Metropolitan
MaUopolis... 400
Mt. Morris .. 450
Murray HIU. 300
165
Nassau
New York... 241
N.Y. Coauty. 600
315
N.Y.NaLEx. 135
Ninth
Irtli Ward.. 150
125
340
N
America..
1871.2
Orioutal
210
Pacifio
3:15
People's
130
111
',110
220
Snoe,KLeath. 148
2-^3
St. NicUoias.l
loO
Slate ol N.Y. 100
170
295
Pheulx ...
Pioduce Ex.
Kopublic
Seaboard
Second
seventh
.,
190
Park
,
130
361
500
197
265
—
177
'240
127
7
I'Ulrd
110
115
190
180
325
......
115
....••
102
160
126
115
108
rtulesmen's. 100
.-»••
Uuit'd States 200
lOO
Western
Afeot Side.. 2U0
......
1
....
...
260
1821.J
......
350
,
loaAt
....n
F
Mat
THE CHRONK^LE.
1891.]
9,
J
.
711
BOSTON, PHILADELPHIA AND BALTIMORE STOCK EXCHANUES.
17* Share Pricea — Bot Per rentnm Price*.
Monday
Tuesday, Wednesday, Thursday,
May 4.
May b.
May 0.
May 7.
Active Stookti
Saturday,
1 Indlcatos uDllatod.
May
Fa (Do»toH).\00
••
Atliintlo A run.
KHl
B»ltlninri' .t Ohio (lialU.lW)
"
l«t lirpfcrn-d
100
"
2rt i>ri>f(>rr<i(t
100
BoMo\iJi\\hiinv(BoMton).100
•
Boston A l-owcll
1(K)
"
Boston A Maine
100
Crntnil of Muss.
"
100
"
Preferred
100
"
Oilo.Biir.AQnln.
100
Olio. Mil. A St. p. rrAM.;.ioo
Oilc. A W. Mich. (BoslOH). 100
Atch. T.
.t P.
A Caiiteu
Preferred
Cleve.
'•
"
"
Fiteljluirs; nrcf.
fl.
Pero Marq.
A
"
"
Preferred
Hunt,
A
Br. Top. (PliUa ) .
"
"
Preferred
I^eliiKh V'niley
lOO
lOO
100
100
100
50
f,0
50
2.
33 Hi
3:i
83
3314
ft%
00
•519
32Tg
31
5%
5>g
'85
87
115 118
204 >ii 20419 204 >v 20tia 204><i 204 1«
177 >« 177 1771s .76
177
I9OI3 199
199 199
197
190
•18%
19
19% 19
I9\ U)\ •19
37>9 87««
87
87
•371a 88 ij
371a
aSOj 90
89^8 90
88% 8l»»8 8819
20'1
177«fl
1911
e4ia
65»B
*«"
20<4
83 >4
03%
47
03 >9
b5>8
40 >«
*6
20
40%
4S!>8
«is
*tf
201a
20
83
Cij
20i»
8314
80
23 >4 23 H
*4G>4
48>4
65>4
83 V|
86
23% 24
46%
48%
461a
4819
•88
130
117
177
'1761a
199
19
19>4
87 ««
04%
•8
83
63
48>4
211a
83
•82
86
24
48 19 48=8
38
107
107
7l-'8
lU7is
5]
1071a
50 14
29% •29
17
107,g
47
May 1
82% 83
Jan. 5
Apr. 23
Apr. 23
2.^%
82% 82%
24
47
4814
48%
48% 48%
20'8
21%
20 '4 21
37%
38>4
107
107
May 4
May 8
Feb. 8
24
47>4
107
107
25% 26%
70% 71
69% 70%
167 "v
168
167% 167%
50 >« 50 14 50% 50% 50%
30
29% 29
30
16% 10» s 16% 16% 10*16
2!j%
27
*6%...
8018
50
49% 49% 48%
225
225
225 ...
"8^4 .8i8
•8
8%
81s
sols
11
Fob.
Tan.
Jan.
Jan.
Feb.
Jan.
Feb.
Apr.
Apr.
Feb.
30% 37%
•64% 65%
20% 27
701a 71%
27%
Feb. 3
Jan. 13
May 1
Jan. 9
Jan. 6
....
....
84
24
47
140
2218
39«B
19I1
24
47
21%
88%
.
39
19
25I4
Apr. 8
Apr. le
Jan. ao
Feb. «
Feb. 13
Jan. 19
....
118
204%
80% 88
03
03%
•8
46^8
481s
.•
64%
24
Jan. 12
Jan. 13
103
45
46''8
801.
Ai>r.
8%
80
'19
-38
48
89%
8278
1
III«he«t.
199
•20
24
.
39
SO
21
.
176
199ii
19
•37>«
87»8
63I9
89i»
46%
M»hie Central (Botlon).lOO
14'.
141 141
"
Mexican Central
21% 2218 22
100 21!^ 2:
88I4
"
N. \. A N. Kuff.
100 39 >« 40i« 39
401a
Preferred
"
105
100 105>a 106% 11151a
Northern Centrsl (Bolt.). 50
-04^8
Northern Paulflo CPAUo.; 100
27 18
2714 27%
27
26%
••
Preferred
100 71iS8 7'23s
7l'>8 72
70%
Old Colony
168
ItiS
( Boston) 100
1671a
Pennsylvania.. (Phila.). 50
5II9 51%
51
5138
50
Phllailel. A Erie.
•29
"
•2914
60 *2(»i« 30
Phlla. A Reading
"
17
10'8 17
10%
50
171s
Butnmlt Branch CBoston). 50
'•
Dnion I'nclHc
50
loo 50% 5118 50% 50''e
UnlUid Cos.of S.J.fPhila.noO
225i« 225 225
8I4
WosternN. Y. APafPAiVa.; 100
8% 8%
8%
2J4
20414 204
47
"26'
231a
4ti%
8%
5>a
90
of tales In
8.
82% 83%
"•a"
20
83
83
23 >s 23H
80
'
May
34i«
88%
84%
Range
Friday,
14
15
15
8
13
10
28
29
10
May 1
Jan. 12
Apr. 28
Feb. 5
Feb. 11
48''e
...
8%
niBceIlane'<a« ntncks.
Am.8ii)r'rRcan.nrJ?os(o»;
90% 01 14
Preferrou
"
92''8 9314
Bell Toleuhone..
'•
ioo 2001a 2061s
Boat. A Montana
"
42
25
42
Butte A Boston..
"
IOI9
25
no
90i«
8914 9014
89
90
89% 89'4 89
86% 88
92% 93 14 93-4 93% 92^8 93% 92^3 93
200 « 207 "s 2O6I9207
200% 200% 207 207
2061a 207
41 1«! 421s
42
41% 41
41
41%
411a 411a •41
lOia lOia
16
16
10
16
15% 15% •15% 15%
25.)
257
257 260
200 260
255
200 260
Cahimet A Uecla
"
25 280 205
Canton Co
•55
fBaltJ.lOO *o5
60
Consolidated Gas
"
48 14 49
100 'AS
Erie Telephone (Boslonj.lOO
50
50% 50
Lamson Store Ser. "
•18
50 10
17
^J^hCoal&Nav TkU j 50 47% 47I2 4719
N.Enc. Telephone tB'ml'nJlOO 511a 52
52
North American. (Phil. J.lOi) •1714 171s
I7J4
Tbnmson-lVuEl.^(BosVn) 25 47 14 47% 47
Preferred
*25% 26
jj-i
f '•
2519
West End Land..
"
2213
221a 23
" Bid and asked nnees;
no Rale was maite.
Inactive Stocks.
Prkes of May
Ask.
Bid.
f
Little Schuylkill
A
(Phda.). 50
Law.. (iJos(<»K.100
A s. Haven {Phila.). 50
NcsouchoniiigVul....
••
.^o
^(Bosfrm). 100
S" ""IkJ."
North Pennsylvania. {Phila.). 50
Oregon Short line. ..fiJogton;. 100
Parkcrsburfj
{Bait.) 50
Pennsylvania A N.W. {PhUa.) 5(
»Iino Hill
"
Kaleijjh
Kutland
A Oaston ....
Preferred
{Ball.) 1 00
(iJostoH). 100
eeaboarJ A Roanoke.
lit prefenod
,
WmEud.
Preferred
Westi'rn Maryland..
NJ lira. Col.
100
67%
60%
00
53%
A Augusta
80%
80
20%
82%
3
62%
115
loO
50
79%
••
84''8 85
50
{Phila.). 50
55%
•
50
30
{Ball.). 50
15
16
"
100 107
"
100 120
•
I'rcl. Tied
"
100
Worc'sl.Nash.ARoch.
"
100
MIHOELLA.NKons.
Allouez Mining
{Boston). 25
••
Atlantic .Miuiui.
25
City I'assengei KR... {Bolt.) 25
Bayblute Gas
{Boston). 50
""Boston •
l.nnd
10
Centennial Mining
10
Fort W.iyiie El-ctricli
25
Franklin Mining...
25
Frenchni'n'stiuyL'nd
5
Huron .Mining
25
Illinois Htecill
19% 19%
50
3%
3%
15%
15
80
32
6%
32%
18% 16%
13% 13%
17% 18
2%
100
6
3
70
Kearsargo .Mining
25
13% 13%
Morris caual guar. 4. (PAi/a.). 100
79%
Preferred guar. 10
'•
100 193
Osceola Mining
{Boston). 25
35% 36
.•
Pewal.ic Miiiii.g
25
Pullman Palace Car.
"
100 189 191
^onm'uElec.Wi
t Unlis .00.
'.iVii
16
47%
4714
53
53
47%
17%
4718
26
22%
17
47I8
22'8
«
"
"
25 105
26 148
100
(And accrued Interest,
48%
60
IOI2
47
53
*17i8
•47
17%
471s
•25% 26
22%
50
16
47
52
•25%
22%
17%
471s
•55
•48
25''8
23ie
{Boston)
"
"
48%
25% 25%
23
23%
Bid.
100
100
50
55
106
150
RockAFt.
8., 1st,
78.. 1905,
JAJ
-48
48%
Bid.
15%
101
102
100% 101
89
87
92
89
90
"89'
110
,121
\'C'.'.
d7
Penna. Consol.
58, r
t.
120%
101%
111
79
99
79k
5Z>s
38
28%
106%
129
116%
i'30"
103
Con.M.,5 g..«tampcd,1922,MAN 100
Phil. Wilm. A Bait., 4s. 1917, AAO
i04%
Pitts. C.
list's
A St. L., 78.... 1900. FAA
Po'keopaie Bridge, 6 g.l936, FAA
Schuyl.R.E.Side.lst5 g.l935, JAD
Steuben.AInd.,l8tm.,58.l!il4,J&J
1894, AAO
United N. J., g
Warren A Frank.,l8t,78,1890,FAA
Bonds.— Baltimore.—
41%
105%
10.5"
1061a
108
107
109
,,
Atlanta A Charl., Ist 7s, 1907, JAJ 120% 121 <•
1900, AAO 102
103 >
Income Os
9319
Baltimore A Ohio4g., 1935, AAO
99
Pitts.
A
Conn., 5 g...l925,
FAA
Btaton Ishand, 2d, 5 g.l920, JA.1
Bal.AOhlo 8. W.,lst,4%g. 1990, J AJ
95% flO'a
72% CapeF.AYad.,Ser.A.,0g.l9ie, JAU 102% 103
1910. JAU 102
103
Ist consol. income8,3g,non-cum.
36% 37% Series B., g
1910. JAU 102
103
Series C.,Gg
21
2d consol. incomes, 38,nou-e«in.i
1930, MAS
Cent. Ohio, 4% g
N. Y. A N.Eng., 1st, 7s, 1905, J,fcl; l"2i"
1905, JAJ|
Charl. Col.AAug. lat 7s. 1895. JAJ ids" 108%
114
Ist mort. OS
1902, FAA
Gn. Car. A Nor. 1st 5 g.. 1929. JAJ 10i%102%
tU4
2d mort. Os
1900, JAJ 114% 118
SoTtU. Cent. Os
2d mort., scaled, 5s.. .1902, FAAl
1901, JAJ 116
68
Ogden. A L. C.,Con.bs.l920.AAO§' 104
1920, JAJ 108%
19201
Series A, 58
Inc. 08
1902 MAN
1925, AAO 103
4%8
Rutland, Ist, 68
101
Oxf.AClark.,lut.gu.,0 b.1937,MaN
1898, FAA jlOO
2d, 58
Pledm.ACura.,lst, 5g.l9tl, FAA
100
Bonds.— Philadel ihja.
Pitts. A Conneils. Ist 7s. 1898, JAJ 113%ill3'%
Allegheny Val.,7 J lOs, ig^e, JAJ 109% 111
Atlantic City Ist 5»,g., 1919,MAN 102
103% Virginia Mid., Ist lis... 1906, MAS 117%'118ie
1911 MAS 116 117
Belviilere Del., )st, 0S..1902, JAD
2d Series, 68
1910, MAS 107 109
3d Series, 6s
Catawisaa, M.,7a
1900, FAA 117% 110
Chic.lst 5g, 1 947, Q—Jl
1921, MA.':
80
4th Series, 3-4-5s
Char. CIn. A
1926,MA!- 101% ioij"
SthScries, 5s
Cleartlcld A Jeff., Ist. Os. 1927. JAJi iio
Va.c.AP.l8t,6g.l911. JAJ 108 109
Os
Connecting.
1900-04, MAS
West
OeiB
95
West'n N.C. Consol. g.l914, JAJ
Del. A B'd Br'k, 1st, 78.1905,FAA 1129
Easton A Am. ]stM.,5s. 1920, MAN
110
WUm. Col. A Aug., 0S..1910, JAD 117% Ii8>a
MISCEl.I.ASlil)CS.
Ehulr. AWiliu..l8t,68.1910, JAJ.I il8
116% 117I«
Baltimore— City UallOs.lOOO.Q—
Hunt. A Br'd Top,Con.58.'95,AAO 101% 102
1900. o—
117 H7i«
FuudingOa
Lehigh Nav. 4%8
108
1914, tJ-J 107
West iiaryPd RR. 6s. .1902, JAJ 121 123
1897, JAD 112
2d 6s, gold
125'«
1910, .MAN 125
General mort. 4%8, g.l924,Q—
09% 100% Water 58
1910. .MA.V 124%
Funding 5s
Lehigh Valley, let 08...1H98, J AD 114
l9.<o. JAJ 103 !» 104
131%! Exchange 3%s
2d 7s
1910, MAS
1900, JAD 107% 108
1923, JAU
Consol. 6
27% Chcsapea6oGas,68
1910, JAD 113% 113H
North Penn. Ist, 78....1H!>0, MAN 111 111%I CouBol. Gas, Os
1939,JAJ 09
99%
58
Gen. .M. 7s
1903, JAJ, 124
1913. AAO 105% 100
Equitable Gas, Os
Pennsylvania gon. Os, r..l9l0, Var 127
64%
Vlrj^nla (Stfate) 3s, new 1932, JAJ
121
Consol. 68, o
.1905, Var
.
t
Ask.
112
87
100
101
95
9
10
5
17
31
5
23
rights.
1919, Var
Collat. Tr. 4% g
1913, JAD
Pa. A N. Y. Canal, 78... 1906, JAD
1939, AAO
Consol. 5s
Perkiomcn, Ist ser., 58. 1918, Q-J
PnUa. A Erie gen. M. 5g.,1920, AAO
Gen. mort., 4 g
1920, AAO
Phila A Read, new 4 g.. 1958. JAJ
Istpref. income, 5 g, 1958, Febl
2d pref. income, 5 g, 1958, Fel). 1
3d pref. income, 5 g, 1958 Feb. 1
1893, AAO
2d, 7s
1911, JAD
Consol. mort. 78
Consol. mort. 6 g
1911, JAD
ImprovcmentM.6 g., 1897, AAO
112%
t
fEx
Bonds.
;tl04
it
14
14
31
14
31
37
14
31
60
78% 78%
47 la 47%
|107%
89
25% 25%
22% 23
20
5801
Ask.
2%
15
Bonds.— Boston.—
At.Top.A8.F.100-yr.4g.,1989. JAJ
100-year income D g., 1989.Sept.
Burl. A Mo. River Exempt Os, JAJ
1918. JAJ
Non-exempt 08
1910, JAJ
Plain 48
Nor. 1st 5,1920, AAO
Cbic. Burl. A
1918, J&D
2d mort. Os
1896. JAD
Debenture 6a
Chic. Burl.A Quincy 4s.. 1922, FAA
191H, AAO
43
Iowa Division
Chic.A W.Mich, gen. 5s, 1921, JAD
Consol. of Vermont, 58.1913, JAJ
Current River, Ist. 58. .1927, AAO
Det. Lan3.ANor'nM.7s.l907.JAJ|
Eiatem Ist mort. 6 g., I'JOO, MASi
Bree.Elk. A M.V.,l8t, 68.1933, AAO|
Unstamped 1st, Os. . . .1933, AAO.
K.C. C. A Bpilng., st,5g., 1925,AAO
K. C. F. 8. A M. con. Os, 192S, MANJ
K.C. Mem. A Bir.,l3t,58,1927, MAS
K.C. 8t. Jo. A C. B., 7a.. 1907, JAJ
Loui8.,Ev.AStL., lst,0g.l926,A AO;
1936, AAO
2m., 2-0 g
1925, AAO
Mar. H. A Ont., Os
1923, J&D
Exten. Os
Mexican Central, 4 «... 1911, JAJ
•54% 55%
49
"17" 49
'10
17
18%
47
47
47
47
•52
•51% 53
53
17
17
16% 16''8
•40% 47% 45
40%
Inactive stocks.
L.
48
{Ball.) 10(
Wi!miii','fnA\Vel<lon
V isri,!iMn Central. {Boston).UH}
Quincy Mining
Tauiarack Mining..
17
50
17
4814
I
.(Boston).
West Jersey
West Jersey A Allan.
48
50
Thom.Europ.E.WeldU
Water Power
95% Westlnghouse Elec.H
8.
Atlanta A Charlotte {Bait.) 100
94%
Boston A Providence (itogton). 100 254
Camden A Atantlopf. (PhUa.). 50
30
Catawlsaa
"
50
7%
1st preferroi
"
50
58
2d preferred
"
50
55%
Central Ohio
(Bait.). .50
50
Obarl. Col. A Augusta
"
100
Connecticut A Pass. (Bo»ton).100
Oonuceticut River
••
loO 218
Delaware A Bound Br.(PAi/o.).100 150 165
Har.Ports.Mt.JoyAL.
'•
50
77
79
*o. *^X ^J- ? * ^' «"'• (Boston) .100
i-C'yi'-t.8.AGulfpt.
"
100
Manchester
•55
4818
*55
501a
48
58% Jan. 17 92% Apr.
84% Mar. 11 94 Jan.
351 tl84 Jan. 29 220 Jan.
3H% Jan. il 40% Mar.
1.625
625 13% Jan. 2 17 Jan.
52 246 Jan. 3 2S0 Mar.
4fli4Jan. 27 55
Feb.
76 45% Jan. 7 49 Jan.
688 46% Jan. 3 50% Mar.
563 15 Mar. 30 24 Jan.
654 40 Mar. 25 48% Feb.
57 50 Jan. 3 53 May
2,030 12% Jan. 2 19% Feb.
663 41% Mar. 10 49 Jan.
690 25 Feb. 5 26 Jan.
3,777 21 Mar. 13 24% Apr.
10.698
Last price this week.
'
J
'
THE CHRONICLE.
712
NEW YORK STOCK EXCHANGE P RICES
lUlLROAi,
^v
Cloa'ng
MISCEL. BoSDS. Mer'J\ PH;=e
Range
LVou
MAY
{ContlnneA}.- ACTIVE BO.yPS
(sales) in 1891.
liowest.
I
;Railboad AND
Highest.
1
§,
AND SINCE
iCios'ng
MiscKL. Bonds. iJtter"**! Price
IPeriod.] May S
JAN.
Sange
1,
-^
.
Atl.
&Pac.-W.D.lnc.,68.1910..
i?e{i''.
Guaranteed, 4 fc
Br"ookl°i."EievkfdiBt;6,g:i924;A
|outl>.-lBt guar.. 5s 908 J
can
47%
12%a.
8OI2 Apr.
53 Jan.
Mar.
Mar.
Mar.
Mar.
75
80
3838
11
71
10|'e
14
75
M &
1912
do. mortgage, 58
Am. Do<k&Imp,59....1921 J
Central PaciHc-Gold,6s.. 1898 J
Ches. &01.io-Mort,(i g-j^"'^
l8t, coupon, 78
1903'J &
Deben., 5s, coup., 1884.. 1904
&
N. Y.& Harlem— 78, reg... 1900 M &
N. Y. Cbic. &8t. L.— 4g...l937 A &
1906;J &
N. Y. Elevated-Ts
N.Y.Lack. &W.— l8t,6s..l92l'J &
1923:F &
Construction, 58
N.Y.L.E.&W.— Ist,cou.,7g.l920
&
Long Dock, 7s
1893 J &
M
Mar.
Mar.
71^2 Feb.
Feb.
Apr.
Jan.
May
98I4 Jan. I0212 Apr.
95 Jan.
88 Feb.
DlnfefDlVi.?ioJ.-4.:::::i922ir & a S|Mb.
May 88% Jan.
Nebrafka Extension, 4s. 1927iM & Nl_83%b. 84 Jan. 115»6 Apr.
D114i4b.ai3
Chic. & E. 111.— l8t,8.f.,6s.l907:J
& tj.ub b. ligiflApr. 121 Jan.
O 120
Con801.,6g
1^2*'m
95 Jan. 100 Apr.
General conBOl.lst, 5s.. 1937|M & N, 96
92i3Apr.
8312 Jan.
Chle. GasL. <kC.-l8t,5g.l937 J & J 91
120 Jan. 1251a Feb.
J & J Jfd
Cliic.Mil.>.P.— Con.78.1905
112i4Apr.
110 Jan.
J & Jill
iBt, Southwest Div., 68.1909
110 Jan. 114 Feb.
l8t So.Min. l)iT.,6s....l910 J & J 11?
Ist.Ch.&PacW.Div., 58.1921 J & Jjl06i2b.]l04 Jan. 107% May
98 Jan.
J & J 95 b. 94i2Apr.
Chic. & Mo. Riv.Div., 58. 1926
lOlMb. 101 Jan. 103 Jan.
Wi8. & Minn. Div., 5 g.. 1921 J & J
1914 J & J ;n02 b.'lOO Mar. I0312 Apr.
Terminal, 5 g
84i2Mar. 87 Feb.
Gen. M., 4 g., series A. ..1989 J & J 85 a.l
Milw.* North.— M.L., 68. 1910 J & d'i12 b. 107'sJan. 112 Feb.
1913;J & Dlll%b.[l07 Jan. 112 Apr.
let, con., 68
ailc.&N.W.-Con80l.,78..19l5l <3-F 13bj9 136 May 139% Apr.
1902 J & g Jf 2"*^ l?f Jan. 127% Feb.
Coupon, gold, 79
,„„„
1929 A & O 114 a. 114is May 115 Feb.
Sinking fund, 68
1929'A & 0« lObHb. 105 Jan. 108i4Feb.
Sinking fund,58
& N lObsa. lOOJa Jan. 109 Feb
Sinking fund deben., 58.1933
& N lOdJsa. 104^ Jan. 105% Apr.
25-year debenture, 5.... 1909
1926 F & A 94i4b. 94i2 Apr. loo Jan.
Extension, 48
Clilc.Peo.&St.Louis-5g.l928M & S 97>4b. 95 Apr. IOOI3 Jan.
124 Jan. I2714 Feb.
Chic.B.I.&Pac— 6s.coup.1917 J <fc J '^5
9912 Jan.
9514 Mar.
Extension>.ndcol.,58...1934!J & J 8758
& O 102 b. 100 Feb. 103 May
ChIc.8t.L.&Pltt.-Con.,5g.l932|A
Jan. 1 19 Jan.
Chic. St. P. M. &0.—69....1930'J & U llSiaa. 116
86I2 Apr.
91"a.May
Cleveland &Canton-5g..l917;J & J .,9.2„ ^
*129 b. 129 Jan. 132 Feb.
C. C. C. & L-Consol., 7 g.l914lJ & D
1934]J & J 115 b, 117 Jan. 121 Mar.
General consol., 6 g
102 Jan. 106 Jan.
1900 F & A
Col. Coal & Iron-6 g
§2 b. 62 Apr. 71 Jan.
Col. Midland— Con., 4 g... 1940 F
86 Jan.
7913AP1.
Col.H.Val.&Tol.-Con.,5g.l9311M & Si Sgia
38 May
1904 J & dI 87»2b. 84 Jan.
General,6g
Denver & Rio G.— lBt,7 g.l900|M & Ni*114 b, 116 Jan. 119igFeb
«''^
79 Jan. 83 Feb.
1936|J & j| 82^2
l8teon80l.,4g
961a Feb.
Det.B. Clty&Alpena^6g.l913:J & J| *95 a. 91 Jan.
Det.Mac.&M.— L'dgrant8.1911 A & o! SOifib. 29>a Jan. 32i4Feb.
Dul. Alron Range— 58.... 1937 A & 0\ SS^a. 95 Jan. 10016 May
99 Feb.
Dul. So. Sh. &Atl.— 5g. ...1937 J & J 97 b. 95 Jan.
9913 May 104 Jan.
A Nl 99%
E.Tenn.V &G.— Con.,5g.l956
,^ .^
Knoxvllle&Ohio, 6 g...l925 J & J 10513b. 103>4Jan. 109 le Apr.
& S' 88 b. 88 Apr. 95 Jan.
EUz. Lex. &BigSan.— 6g.l902
9979 Jan 105 Jan.
Ft. W. &Denv. City— 6g..l921:J & D 104%
& Ni 92isb. 9214 May 95 Apr.
Gal.H.&SauAn.-W.Uiv.l8t,5g.
113isa. 110 Mar. 117. Jan.
Han. &St. J08.— Cons., 68.191l'M & 8
1952A & O 94%b. 94 Apr. 97 Mar.
Illinois Central—4 g
& N 114 b. 111 Jan. 115 Jan.
Int. & Gt. No.— let, 6 g. . .1919
Coupon, 6 g., trust reel 909,
& S! 70 b. 68 Mar. 76 Jan.
86
80% 1' eu. 87 May
lo-wa Central— Ist, 5 g
1938'J &
Kentncky Central— 4 g.... 19871 J & j' 8mib. 78J2 Jan.
821a Jan
J'lOCub. 97's Apr. 100 '4 Jan.
KingsCo. El.— 1st, 5 g....l925 J &
75i8
Laclede Gas— l8t, 5 g
75 May
1919 Q— F
821a Jan.
LakeErie&West.- 5g....l937 J & jU09 b. i05ia Jan. 109'eJan.
L.Shore— Con.cp.,lst,78.1900 J & J|*120 b. 120% Jan. 122% Jan.
1903 J & d'122 b. 122 Mar. 124 Jan.
Consol. coup., 2d, 7s
67
68
104
121
Jan.
Jan.
Jan.
M &
;N.Y. Central- Extend.,58.1893
Jaoi.
M
IIII4 Apr.
113 Jan.
95I2 Mar.
98 Apr.
N 96 b.[
_
J 107 b.' 105% Mar. 108>s Jan.
112% Mar.
1 10>« May
/illO\
114 Apr. 117% Mar.
5i' 96I4
95 "a Jan. lOOHi Feb.
&
&
*
R.,S!A.l)lv.,l6tcon..4g.l989 J & '^ai"do l8tcou.,2-4g.l989 J & J 69^4
2d con., 4 g... 1989 J & J /» »•
do
1911F & A 106 a.
Ches.O.&So.W.-6g
1935 A &
6g
1969IJ &
2deousol,6g
N. Y. Ont. & W.— 1st, 6g..l914;M &
Consol.,
Consol.
1st,
5g
1939!J
N Y.8US.&W.—Istref.,5g.l937
j,
&.
N,101i4b. 100% May 103i4Mar.
126 Mai-. 127i4Apr.
J:126
S 106%b. 106 Mar. jllO Jan.
Nil20 a. 118% May 123 Mar.
91 Jan.
95% Jan.
O 92
JjlU's
Jar. 1115
Apr.
J "129 b. 127^4 Jan. 133 Jan.
A'109b.;i08 Feb. 108% Feb,
133 Jan. 137% Feb.
8 135
D!l07''8a.'105
Jan. 107% Apr.
o'll7%b.ill5 Jar. 118 Feb.
D 101% 96=8 Jan. 10278 Apr.
8*112 a.'llO Mar. 115 Feb,
97% Apr.
92% Jap
Di 96%
Jar. IOOI4 Feb.
Jl 99 b.! 94
0113 b. 112 Jan. 115% Feb.
93 Jan. 100% Feb.
j! 92iib.
J!ll6%b. 113 J.r. 117% Apr.
_ _,
O 11114a. 110% Jar. I1414 Mar.
D;110% 1107% Jan. 11314 Feb.
8578 Jan.
SO^a Apr.
Di 82
81103 b. 103 Apr. 109 Feb.
ja09%a.'l05 Jan. 110 Mar.
J'112 a.:lll Mar. 112 Feb.
I
HI
J.,
J
6 g.... 1910
|
51%
47% Mar.
1958 Feb.
37
32 Mar.
1958 Feb.
28I4
2514 Mar.
1958 Feb.
Pittsburg & Western— 4 g.l917 J & J "9 a. 75% Jan.
M
113 b. 115 Jan.
Rich ADiinv.- Con., 6g..l915 J &'
M
1936'A & O 85J4b. 86 Apr.
Consol., 5e
Eich.&W.P.rer.-Tru8t,6g.l897!F & A 96 a. 95 yfay
66% May
Con Ist&col. tru8t,5g.l914iM & 8 66%
74 Jan.
iRioG. Western— let, 4 g.. 1939 J & J 77
R. W. &Ogd.— Con.. 5S....1922 A & O 110 a. 105 Jar.
82% Mar.
St. Jo. & Gr. Island- 6g..l925 M & N 83 b.
St.L. Alt&T.H.— lst,78.1894!j & J 109 b. 110 Jan.
1894;F & A 105 a. '104% Feb.
2d pref., 7s
81%b.| 78%J;in.
St.L.Ark.&Tex.— l8t,6s,t'8t.rec.l
18
17i4Mar.
IMH
2d, 68. 1936, tr. rec.aUass.pd.i
St. L. AlrouMt— l8t78...18921F & A 10258b. 101% Feb.
1897M & N 105 b. 104% May
2d,7g
CairoArk. ATexas, 7g..l897 J & D 106i4b.il03% Jan.
Gen. R'y Aland gr.,5g.. 1931 A A O 85 b.| 39 Apr.
J.ID,
St.L. ASanJ-r.— 6g.,Cl.A.1906|M A N 108 b. 110
1906IMA N 108 b.!l09 May
6g.,Cla88B
108 b.lll Jan.
6 g.. Class C
1906'M
General mort., 6 g
1931 J A J 106% |104 Apr.
114% 114 May
e.P.M.AM.— Dak. Ex., eg.lOlo'M
M
1st consol., 6 g
1933 J A J 114 b. 114 Mar.
do
reduced to 4% g... J A J 102 a. '100 Mar.
86
80 Jap.
MontanaExtensiou, 4 g.l937 J
M
62 Jar.
SanA. A Aran. P.— Ist,6g.l916 J A J 70
62 Jan.
M
l8t.6g
1926J A J 69
134 a. 126% Jap
Shen. Val.-l8t, 7 g., tr. rec. 1909
"
54 b. 6I14 Jan.
Gen'l 6 g., Tr. reo. a88't'd.l921
107 a, 103 Jan.
M
So. Car.— Ist. 6 g.,ex coup. 1920
23 14
13 Jan.
M
Income, 68
1931
101% Feb.
D
So. Pac, Ariz.— 6 g
1909-10 J A J 103
O 110%b 109% Apr.
So. Paoiac, Cal.— 6 g. . 1905-12 A
99 Jar.
1st, consol., gold. 5 g.... 1938 A A O 99
'
IO214 Jar.
80. Pacific. N.M.— 6 g
1911' J " J 103
93 a. 86 Jan.
Tenn.C. L ARy.—Ten.D.,lst,6gl A A O
Blrm.Div.. 6g
19171J A J 94 b. 93 Jan.
85% Jan.
Tex. APac— 1st, 5g
2000'J A D 89%
2914 Mar.
Longlsl'd— l8t, con., 5g..l931 Q— J 1115
110%Jan. USiaMar.
2d, income. 5 g
2000|March. 3214
90 Jan.
93 b. 93 Jan.
General mortgage, 4 g..l938'J & D 92
92 la Jan.
Tol. A. A. A N. M.— 6 g
1924 M
Louis. & Nash.- C0U8., 79.1898; A & ollll>a
Ill I2 Apr. 11558 Mar.
Tol.A.A. AGr.Tr.— 6g....l921 J A J •106 b. 104 Jan.
H.O. &Mob. l9t, 6g
1930J & J115 b, 114 Jan. 118 Feb. Tol. A Ohio Cent.— 5 g
1935 J A J 105%a. 102=8 Jan
106 Mar. 108 Feb.
do.
2d,6g
1930J
J 111
74 Jap.
Tol. Peo. A West.— 4 g
1917 J A J 74%
IIII2 Mar. I1314 Apr.
E. H. & N. l8t, 6 g
1919 J & D113
Apr.
Tol. St. L. A Kan. C— 6 g.. 191 6 J A D 85 b. 82
General, 6g
1930' J & D115
113 Feb. 115 May
Union Pacific— 6 g
1899!j A J lll%b. 112% Apr.
Collateral trust, 5g
1931 M & Ni 99 b. 99 May 1031a Feb.
Mar.
SinWnir fund. 89
!l07
1893 M A 8 108
Louis. N.A.&Ch.— 1st, 6a. 19101 J & J *106 b. 101
Mar. Ill Jan.
Collat."trHst4%
1918 M A N T0%b.!69 Feb.
Consol;, 6 g
84 Mar. 98 Apr.
1916'A & 0| 94'3
KansasPaciflc— l8t, 6g..l895'F A A 107 b.'l07%May
Louis. St. L. &Texa8—6g.l9l7JF & A 84ia
78 J air.
88 Jan.
l8t,6g
1896JA D!l09%b.l08 Mar.
Metro. Elevated— l8t, 6 g. 1908 J & jlll4
11158 Jan. 115 Feb.
Denver Div.— 6 g
1899 AI A N!l095sb. 109% May
2d, 68
1899 M &N-I105i4b. 104 Jan. 108 Apr.
l8tcousol.,6g
107% 107% Muy
1919 M
Mich. Cent.— 1 st, con. 78 1 902 M & N 120 b. 1191a May 1241a Apr.
100 Mar.
Oregon Short Line— 6 g..l922 F A A 103
Coneol., 58
1902 M & N 104i.ib. 107 Mar. 108 Feb.
Or.S.L.AUt'hN.- Cou.5 g.l919 A A O 79 b.| 73 Mar.
Mil. LakeSh. &W.—l8t,6g. 1921
122 b. 118% Jan. 127 Apr.
U.P.Deu.A Gulf con. 5 g.l939 J A .D 7958
78 Jap.
Exten. & Imp., 5 g
F
1929- & a; 99
98 Jan. lOl's Jan.
107% 106 Jan.
Union Elevated— 6 g
1937
M. K. AT.- 1st 48,g
1990 J & D 78
74% Jan. 7916 Feb. Virginia Mid.— Gen. m..58, 1936
83 b. 81 Jan.
2d 48,g
36% Jan. 44% Jan.
1990JF & Ai 42 la
do
stamped guar. M A N 87 b. 83 Jan.
Mo. Pacific— Ist, con., 6 g.l920lM & N|*107 b. 105 14 Jan. Ill Mar. Wabash— 1st, 5 g
98 Jar.
98%
1939
8d,78
1906lM(fcNM12iab. 115 Jan. 116 Apr.
70 Feb.
2d mortgage, 5 g
1939. F A A 73%
Pac.of Mo.— l8t,ex.,4g.l938 P & A' 97 a. 96 Apr. 100 Jan.
Debent.M.. series B
1939 J A J 34%a. 30 Feb.
2dmort.,78
1891IJ & J 102%
9913 Jan. 102% May
2361 J A J 102% 100 Jan.
West Shore— Guar.. 4s
Moblle&Ohio— New,6g..l927 J & Dill6iab. 112 Jan. II713 Apr. West. N. Y. APa.— lat, 5g.l937 J A J 99 b. 96 Jan.
General mortgage, 4s... 1938 !m & sI 65
63 Jan.
70 Feb.
31%b. 30% Jan,
1927 A
2d mort., 3g., 580
Mutual Union Tel.—6 g.... 1911 :M <fe N!*103 b. 102 Jan. IO518 Feb.
99 %b. 98 Jan.
West. Un. Teh— Col. tr., 59. 1938 J
Nash. Ch. &8t.L.— Ist, 7s.l913'J & J:126
125 Jan. 126% Apr
93 Mar.
93
Cent. Co.— Ist, 5 g
1937 J
Wis.
Con., 5 g
1928 A <fe O 105
10478 Apr. 107% Mar.
1937'..
41 %a. 34% Jan.
Income, 5 g
HOTB— b" indicates price bid; •• a" price asked the Range is made up from actual sales only. * Latest price this week.
I
74
Feb.
109% Feb.
100% Mar
106
Jan.
109% May
103
Feb.
747e Apr.
80 Feb.
22 Jan.
82 Feb.
58 Jan.
3878 May
30 Jan.
81 Feb.
118 Jan.
91 % Jan.
100% Jan.
Ist pref income, 5 g
2d pref. income, 5 g
3d pref. income, 5 g
I
75
Feb.
Feb.
Mar.
92% Jan.
110% Mar.
107 Jan.
85 Apr.
21 Jan.
105 Jan.
77%
t
114
!
I
;
108% Apr..
10714
M^y
93% Jan.
112% Apr.
113% Apr.
AN
AN
114
110
lis
117
AD
102% Feb.
87% May
.
.
.
'
1
AN
1
AN
.
.Mar.
Feb.
58% Jan.
103% Feb.
.
j
May
112
110
63
ife
.
,
Highest,
&
A A
Norf. & W.— 100-year, 5 g.l990 J &
J _
North.Pac— l8t,coup.,6g.l921,- &
(Jeneral, 2d, coup., 6 g..l933'A &
General, 3d. coup., 6 g.. 19371 J &
Consol. mort, 5 g
1989]J &
North. Pac. &Mon.—6g...l938;M &
North. Pac. Ter. Co.— 6g..l933'J &
Ohlo&Miss.— Cons.s.l.,78.1898'J &
1898]J & J, HI b.illl Mr.
Consol., 7s
Ohio Southern— Ist, 6 g...l92l|J & D[107 b. 103% Jan.
1921iM & Nl 59
55 J.D.
General mort., 4 g
Omaha & St. Louis— 4 g ..193:|J & Ji*58 b. 53 Jar.
90 Jan.
Oregon Imp, Co.— 1st, 6 g. 1910 J & D,100%
66 Apr.
Consol., 5 g
1939 A & Ol 67
Ore.R&Nav.Co.— l8t,6g.l909'J & J 108%b. 107% Jai-.
JcD,*92%a. 92 Jan.
19251J
Consol.. 5g
104% Mar.
Pa. Co.—4%g., coupon. ...1921 J & JilOSk
Peo. Dec.&Evansv.— 6g..l920 J & J:109%a. 100 Jan.
Evansvillo Div.,6 g....l920 M & 8* 101%b. 95 Jir.
1926 M &N 71%b. 66 Jan.
2d mort., 5 g
PeoriaAEast.—Cons., 48.1940 A & O' 75%a. 75 Apr.
Income, 4s
1990 ApriLi*18 b. 18 J..n.
7778 M«r.
Phila.
Read.— Gen.,4g.l958 J A J! 79%
Midland of N.
73
112
123
&A
1891
.
Lowest.
I
Jan.
& Jt 71%
Ap.'. I1214 Jan.
& O UO%b.
10714 Feb.
& ^ l«i\i ?|^|^S; 100 Feb.
118
123
1891.
(sales) in
I
I
At.Top.&8.F.- 1 CO-yr. * 8 ^^^^ ' c * ,
1989i oept100-year iiicomo, 5 ?
Lll,
.
M &N
MAN
MAN
MAN
I
I
I
!
AO
74
Apr..
Jan.
Jan.
Feb..
Feb.
73% Feb.
133% Apr.
6I14 Jan..
107
27
Feb..
Apr.
103% May
114
Mar.
101% Mar.
104
94
Apr.
Jan..
96% Jan..
90% Apr.
3514 Jan.
99% Feb.
108
Apr.
107% Jan.
77
91
Jan.
Jan.
114% Mar.
111% Feb.
74
Apr.
111
Jan.
109% May
II
m Mar.
111% Apr.
106% Jan.
80% Feb.82
III
Jan.
Apr
89% Feb..
90
102
Feb.
Feb.
Jan.
77%
35% Apr..
103
101
Jan.
Feb..
3578 Febi
100%
97
45
Apr..
Jan..
Jan.
;
NEW YORK STOCK EXCHANGE
BECURITIE8.
Bid.
Ask.
SECURITIES.
A0.8. W.,l8t,
B.
Railroad Bonds.
(Stock Exchange Prices.)
MabamaMld.— l9t, g., 69 ....1928
Atlantic A Dan\.— Istg., 68. .1917
Atl. A Pac— 2d W. D.,gu. 66,. 1907
Bait. A Ohio— Ist, Os, Park B. 1919
69, gold
Conp. mnrt.. o-oH.
•
Mo price
?iB
112
1925 •104
19«a
88
PRICES-(Continued).-/JV.4C2Tra;
g.,
Friday; these are the atest qaotatloas
made
'
Rap.ANo.-l8t,58 1906
1934
Ihla
week.]
Bid.
Aak.
Rap.ANo.— (Contin'd)—
Minn. A St. L.— 1st, 7s, gu. 1927 113
Burl. Ced.
.
i"oo% 101%
9979
87
90
Roch. A Pitts.— Gen., 58. 1937
95%
Roch. A Pitts.- Ut, 6v
1921 120
do ^Consolidat'dlBt.es. 1922 114 116
„
Burl Ced.
8.
SECURITIES.
Ask.
96
Mon. Rlv., 1st g., g.
oeni'l Ohio Reor.- Ist, 4i"8. 1930
Boat. H. Tun. A W.— Deb. 58 1913
Brooklyn Elevated— 2d, 3-58. 1915
Bufl.
116
Bid.
4%s... 1990
5s
1919
BONDS-MAY
95%
HO
Iowa
C.
A West.— lat, 79 .... 909 100
Ced. Rap.
1st, 59
1
I.
F.
A N.,
1st,
68.1920
1921
C.Ohio— Jol. ACin.M.l8t,4%8.1939
Cent. RR. A Bank.— Col. g.58. 1937
Chat.EomeA Col.— Gtd.g.59. 1937
Sav. A West.— 1 st con.gtd.58. 1929
ont. nf W. .1.— Coiiv. fl»h.. ««
190"
100%
87
97H
82
115
82%
Mat
e,
THE CHRONKJLK
1891, J
NEW YOBK STOCK EXCHANGE
SECTTRITIES.
Bid.
Oentral Paolflo— Qold b<l8,6a, 1895
tin
1896
1897
Ban Joiuiiiiii Br.. t)8
1900
Cttl. A Oi-yKDii— 8er. B. 68.
1892
Mori, (fold 5.S
1039
Luiiil Kniiit. 5«. g.
1800
Wcat. HhcIHo— Bonds, 6«. ... 1 899
No. Riillwiiy (Cal.)—l8t, 08.1907
50.y i-ur .'id
1938
Ohcu. A O.— Pur. M. fund, 68. 1898
6». pild. flcflM A
1908
Ohes. ("). A So. Wc8t.— 2d, 68..I911
CliloKo A Alton— 1st, 73
1893
81iiklu(j fund, 68
1903
Loiiln. & Mo. Blver-l8t, 78.11K)0
2d, 78
1900
8t. L. JnvkH. A Clilc— lat,78.1894
Ist, iriiar. (.j<>4), 7a
1894
110
108
100
. .
Miss.R. Hrldito—liit, 8. f., 68.1912
Ohio. Burl. A Nor.— Dcti. (>a...l896
Ohio. BurliuK. A Q.— 5», a. f..l»01
Iowa Div.—Sink, fund, 59. 1919
.
8inkiusfund,48
1919
Plain, 4a
1921
CJilf. A Indiann Coal— l8t 58. 1936
Ohl. iMil. A St.P.— Iat,88,P.D.1898
2d, 7 3-lOa, P. D
1898
1st, 7», $g., R. D
1902
lat, LaCrosae Division, 78.1893
lat, I. A M., 7b
1897
lat, T. A D., 78
1899
lat, O. AM., 78
1903
1st, I. A D. Extension, 78... 1908
l8t, I,aC. ADav., 53
1919
lat, H. A D., 7a
1910
l8t,H.&D.,5a
1010
Cluca4;o A PaelBo Div., 6a. .1910
MIfieriil Point DIr. 59
1910
C. A r,. Sup. l)1v., 5a
1921
Faruo A South.-, «a, A88U...1924
Inc. oouv. sink, fund, 5a
1916
Dakota A Gt. South., 5s.
191(i
80. A Pla.— Ittt, g. 6s
1927
Grftnd Rap. A Ind.— Gen. 9s. .19*^4
Green H. w. A St. P.— Itt6s .1911
2d Income, nil .^uba. paid ..
Houaatonlc— Cons. K(d<f 3s
I lli» 7 *102
N. Haven A Derby, C<m8.0n..lU18
H0U8. AT. C.-W'neo A N. 78.. 1908 110
lat g., 5a (Int. Ktd,
1937
Cons. g. 6a (Int. (rtd)
1912
•
99
llOia 112
113
110
78
lOS
119
Gen. g. 4e.(lnt. gtd)
1921
Debent. Oa, priii. A int. frtd.1897
Debcnt. 49, inln. A Int gtd.1897
lUluoia Central— 1st, g., 4s ...1951
107
l8t, gold, 8129
1051
107
Sprin)rf. Div.—Coup., 68.
.1898
MJddloDlv.— Reg., 58.
1921
0. St. L. AN. O. -Ten. I., 78. 1897
1st, consol. ,79
1897
2d, 68
1907
Gold, 59, coupon
1951
Memp Div.. latg. 4s
1951
971*
Dub. A 8. C.-Jd Div., 78 ... 1894
119
Ced. Falls A Minn.— Ist, 78.. 1907
117
Ind. D. ASpr.— 1st 7s, ox. cp.1906
1221* Ind. Dec. A West.- M. 58
1947
2d M., inc. 58, tr st reo
1948
Inter. A Gt. Nor.-( 'oup. 68.
1909
Kanawha A Mioh.— .Mort. 48.1990
Kan. C.Wyan.A^-.w.— lat, 58.1938
126
L. 8h. A M. So.— C. P.&A.—78. 1892
Buff. A Er.— New bonds, 78.1898
i26is
Det. M. AT.-lat, 78
1906
loo
Lake Shore- Di V. bontla, 7s. 1899
Mahou'g ConI RR. -lat, 58.1934
1164
•106
104
101
10l>»
10208
90
lie's
112%
122
112
114
116
123
123
101
119
113
95
98
110
.....
G«I. H. A H. A,— 2d inorL, 78 .. 1008
West. Div., 2d Ua
19.S1
106
. .
*
*
63
68
67
90
108i«
112is
108
108
100
90
*,I^--Con.
8. f.,
8.1905
Col.-Eq. A 2d 69.1930
9,^J7},^K^ L.,
O.C.C. A St.
Cairo div. -48, 1939
St.I^u.piv — I8t«ol.ts'tl8,g.l940
aP,''''"f*' "ol-Div.- l8t,g. il 1940
W hiteW. Va .Div.-l8t,|. 48. 1940
Clii.8.^in Af.l -Con. 1 at,g.58,
1928
Kal. Ail.
A O. B.— l8t gu. S^.ig.^S
7414
J-itehf.
94
87 «t
85
100
88
86
Olcve.
A Mah. V.-GoM,
Co orado Midland-lat, .58."l938
68.1936
Oolumbla A Green.-l8t,s-, . 1916
63.
2d, ba
1926
Del. Lack. A W.-ConVeVtV
73,1892
.
1131s 1141s
110
106
106
80
02 14
llOis
il2
Incomes
Minn.A St. L.— 1st, g. 78
Iowa Ext-nsloD, let, 78
2dmortg.,78
South weat Ext.— Ist, 78
Pacific Ext.— lat, 68
1927
1909
1891
1910
1921
Impr. A equipment, 6a
1922
Minn. A Pac— lat mortg., 58.1936
. .
1923 107
413S..
4th, extended, 58
1920 110
»th, extended, 4s
'1928 '102
l8t, coua., fd. coup.,
7s.'i""l920
Reorg lat lien 6l'.;:::::lg^g
'.
». Y. L E. A W.—CoJ. tr.,6«.1922
Fandedconp.,5s....
1969
iGcome, 68
1 077
Biiff. A S. W.-Mortg:"68::::i908
Jefferson— lat, gu.
ChKugo A
g.
132
109
SO
idi"
85 <s
27%
Jamea River Val.— lat, 68.. .1936
Spokane APal.— 1st, 68
1936
St.Paul A N. P.— Gen., 6a.. 1923
HelenaARedM'n— l»t,g.,69.]!»37
DuluthAManitoba— lBt,g.68l936
Dul.AMau Dak.Div.— I.si(ia.l937
C(£ur d' Alene— lat, Oa, gold. 1916
Gen. l8t,g.,63
75
Sa ....1909
Eric, lat, g.,4-58. 1982
Income, .58
IBS'?
112
Nu
95
74ifl
week.
•
100
87
5».
2d mortg., 419s
1021
A Read.— 3d prcf. convert
Pltt9.C.CA8t.L.— Con. g.4iii8A 1940
•140
•138
•130
110>9
102
113
107
115»s
115
U7"«
110<<
60
•
A
&
A
32%
119
lucouie, 68
1916
Rich. A Diiiiv.— Debenture 68. 1927
E(iuip. M. 9. f.,g., .'Ja
1900
Atl. A Char.— lat, pref., 78.'. 1897
do.
Income, 68
1900
97'
97
100
•••.•
Rio Gr. Junct.,l8t,guar..g,,58.1938
^
Wat. A Og.— lat M., 78.1891 •10319 104
A Gp. Is.— 2d Ino
1925
2lh»
Rome
A Omaha— lat, 58.. 1927
A r.n-2d m. inc.78.1894
1894
Bellev. A 80. 111.- Ist, 88...1896
Bellev. A Car.— lat, 6a
1923
Kan.
114% 115
109i»
St. L.
74
C.
A.
Chl.St.L.APad.- Iat,gd.g.5al917
St. Ixiula 80.— lat, gd. g. 48.1931
do
2d income, 5a. 1931
118
Car. AShawt.— latg. 49.... 1932
St.Lou A S.Fran.— E<iuip.,7a.l895
40
General 58
1931
lat, tru8t, gold, 5a
1987
87'
Kan. City A 8.— lat, 68, g...l916
Ft. S. AV. B.Bg.— 1st, 68...1910
St. Paul A Duliith— l8t,58....193]
2d mortgage 5s
1917
65
St, Paul Minn & M.— lat, 78.. 1909
2d mort,, 68
1909
Minneap. Union— Ist, 68.
1022
Mont. Cen.— 1st, guar., fis..l937
10213
East. Minn., lat div. lat 53.1908
San Fran. A N. P.— lat, g., .58.1919
81
Shenandoah Valley— Inc., 63.1923
Sodua Bav A 80.— lat, 58, g. 1924
South Carolrna-2d, 68
1931
So. Pac. Coaat— lat, guar., 4a. 1937
Texaa Central— Ist, 8. f., 78... 1909
1st mortgage, 7a
1911
II414 Texas ANew Orleans- l8t,7s. 1905
1912
Sabine Diviaion, lat, 68
95i8 99
Tex. A Pac., E. Div.— lat, 68.1905
40% 43 Third Avenue (^N.Y).— Ist 58, 193'
1917
14
Tol. A. A. A Cad.—6s
9
Tol. A. A. AMt. PI.— 68
1919
114 123
1940
Tol. A. A. AN. M.— 5s, g
110
1896
Union Pacific— lat, 68
1041s
•lOlij
..
98
.
55
106
•101
103%
•
60
77
111
103
821*
....••
100%
•
98I4
*
*
90
,
96I9
93i»
100
95
•105
lOlis 104
'
•II319
110
115
. .
97
103
lOOia
. .
''so"
93
•
..
45
lOlij
>110
iim
88 19
112
851ft
100
85
108
1897 109% 1104«
1898
lllH
97%
Collateral Trust, 68
1908
118
1907 81
Collateral Trust, 58
118
* 98
1895 100
C. Br. U. P.— F. o.,7s
8OI9 82>»
.105is 108
Atch. Col. A Pac— Ist, 68...1905
Atch. J. Co. A W.— 1st, 68. 1905
100 1031s
ACol.— Ist.g., 53. 1918 74
U.P.Lin.
55
I 50
Oieg.S.L.AU.N.,col.tT8t.,58.1919
HI
. 95ia
Utah A North.— l8t, 7a.. ... 1908 100
94
1926
Gold.Sa
58
Utah Southern— Gen., 78 ..1909 103
,
1909 101 ......
Exten., lat, 78
Valley R'y Co. of O.— Con. 68.1921 101
Wabash— Deb. M., aeries "A". 1939
74
1895 109% 110
No. Mi.aaouri— lat, 78
94
8t.L.K.C.AN.—B.E.ARR. 78.1895 1051s •---.a
83
8t.Charle8Br'ge— l8t,6s...l908 101
107 1081s
Weat. Va. C. A Pitts.— lat, 68.1911 100
113
Wheel.AL.E.— lat. 5s, gold. ..1926
I06>a
80
83
1930 93% 94
' 1 10%
Exteu.-.ion A Imp. g., ."j8
100 Is
Ist,
lat,
6a
68
. .
.
.MlHt-ellaiieouii
Uonda.
Amer. Water Works— 1st
lat cons. 58, g
C^ahabaCoal Min.— latg.
68.. 1907
108
1907
7a.. 1907
108
Chie.Jun.AS.Yds.-Col.t.g,58,1915
Col. A Hock. Coal A I.—6a, g. 1917
Conaol'u Coal— Convert. 63... 1897
112
100
105
.
Chicago— lat
1936 93
guar. 58
III. Co.— lat, 58.1910
Edison Eleo.
99% 103
1905
Equitable G. A F.— lat 68
97 >9
Henderaon Bridge— l9tg. 6a. 1931
1901 105
Iron Steamboat Co.—Oa
*104
Met. Tel. ATel.— l8t,8.f.g.58..1918
100
Nation'! Starch Mfg.— 1st, 6a,1920
102
N. Y. A Perry C A I.— lat, g. 6s,1920
89
117is 118
Northwestern Telegraph— 7., 1904 103 >s
95
991s
lOois loo's People's Gas A Coke ; Ist g.68,1904
79
95
Norfolk A Weat.— General, 6S.1931 119
New River, lat, 68
1932
Imp. A Ext., 6a
1934
Adiuatmeut M., 7a
1924
Equipment, 5a
1908
Cllncli Val. latSs
1967 94
this
Gen; mort., g.,
rnllfornia— l»t,
•
Dividend bonds
Seattle us. AEa8t.—lat,68,g,19 11
made
1032
1086
1937
Oregon A
.la. 1927
Greg. Ky A Nav.— Col. tr. it- .59. 1910
|01iIoKlvcrRR.-Uf,8»
iOhIo Klv.
2d
115
Ceut.Waahiugton- lat,g.,68.1938
Chic. A Nor. Pao.— lat g. 58. 1940
lee Friday; theee are the latest quotations
Bid.
.MI^H.— (ienerol 9a
A
1C4
1938
K^
A
St. Joa.
N.Y.L.E.&W.CoalARR:::6i.l922
Evans A T.H.-ut,con8.,68. 1921 iio"
Mt. Vernon— lat 68
1923 109
'"<l''»"--l8t. oon8..1926
lu^r,- P. Marq.—
* lint A u
Mort., 68. ..1920 117
Scioto Val. A V.E.— Ist, 48..1990
1191s
73%
let con. gold, 58
1939
101
Ogd. A Lake Ch.— Iatc<)n.6a..l920 *105
Portlluiou-lat, 58
.'1939
98% Ohio A Mies— 2(1 conaol. 78...1911|*116
Oen. APen.— latg. 5». ..1918
Springfield Div.— lat 7s.
19051 ....
.
Ohio
Pit la. Clove.
Toi.— lat, Oa.. . 1922
Pit ta. .runctlon— lat 68
1922
Pitta. Me. K.
Y.— Ist 68
1932
llOis Pitta. Palnev.
P.— Ist, 58. ..1916
95
Presc't
Ariz. Cent. Ist, e8,g. 1916
*104>4
Mortga(,'e78
1907 131
8}ra. BniK. A N. Y.-lat, 7e.l906 129
Minn.S.Stc.M.AAtl.— l8t.58.1926
MorriaA Easex-lst, 78....1914 141
Minn.8t.P.AS.S.M-l8to.g.48.1938
^U, 7a
IRQ! 102
1021s Mo.K.AT.— K.C.&P., I8t,48,g.l990
Bonds, 78
:::
J900 115
Miaaouri Pacific —Trust 5s. ..1917
7«of 1871
122
:::::::::i9oi •120
l8tooU.,5s, g
1920
8t.L.AI. M.-Ark.Br., lat, 79.1895
1361s
Bel. A Hud. Can.— lat, ex.
102
7a.l891 101
Mobile A Ohio— lat ext., 68. .1927
?»"??''. 78
109
1894
St. L. A Cairo—48, guar
1931
1917 143 144
Morgan's La. A T.— lat, 6s. . 1920
?n ^'v.,coup., 78
Albany A 8usq.-l8t,gu.,7a.l906
130
Ist, 78
1918 11718
Ist, cone., >ruar.,68
120
1906
Nash. Chat. A St. L.— 2d, 68. .1901 103 107%
Reus. A Sar.-lat, coup., 78.1921 1171s 145
New Orleans A Gulf— Ist, 63 .1926
1411s
Denver CMty Cable-lat, 68. ..1908 99 101% N. O. A. No. E.-Pr.
1., g., 68.. 1915
83
84
N. Y. Cent.— Deb. g. 48
1905 IOOI4 100 Is
Hols
N. J. Juno— Guar. Ist, 48... 1986 100
nfS?"^- ^^- =* 0»--l8t, 78. . . 1900
Divisional 5a
1930
deech Creek— Ist, gold, 48. .1936 * 95 100
1st ext..)fold, 58
84'8 N. Y. N. H. A H.-l8t, reg. 48.1903
1937
110
Eq. Alinp.,g.,58...
'l938
85
N. Y. & Northern- Ist, g., 58.1927
Mobilo A Blrm.-lst, g;;58.!l937
91
97
2d, 48
541^
53
1927
Ceutral-l8!68...1918
116
N. Y. Suaq. A Weat.- 2d, 4ia8.1937
72
76
Eril^l','".""
Erie— lat, extended, 78..
1897 112% 115
Gen. mort., 5a, g
82
1940 80
2d, extended, ijs...
ToiZ 1131s
North'n Paciilc—Ulvid'd scrip ext
103
8d, extended,
.
BECURITIES.
I
Phlla.
lat con. Teuu lien, 78
l!il5
Mexican National— Ist, g., 68.1927
2d, income, 68, "A"
1917
2d, income, 6a, "B"
1917
Michigan Central— 68
1909
Coupon, 5s
1931
Mortgage 48
1940
Jack. Lan. A Sag.—6s.. .....1891 100%
Mll.L. 8.AW.— •;onv.deb.,58.1907
Mich. Div., lat, 6a
1924
Aahland Diviaion- Ist, 6s ..1925
.
Ol.Col. Cin. A Ind.-l8t, 7a,s.f.l899
Consol. sink, fund, 78 .
1914
9.
100
85 >s Ponn.RB.-P.C.A8.L.-lat,e.,78.1900
Pitts. Ft. W. A C.-l8t, 7b... 1912
27
2d, 7a
1912
103
3d, 78
1012
Clev. A P.— Cons.,s. Id., 78.1000
4tb,8lnk.fund
68.1892
102
St. L.V.&T. II.— l8t, 6s., 7s. 1897
100
2d, 78
1898
64
2d, guar., 7a
1898
71
Peo.A£.-Iiid.B.AW.-l8t,pr.78.1000
71
Ohio tnil.AW.-l.st pre f. 58.. 1938
103
Peorto A Pck. Union— 1st, 68.1921
. .
1211s
96
103
96
lOlis
LehighV.,N.Y.— 1st gu.g.4i28.1940
Car.A West.- lat 68. g.l916
Iionglalaud— Ist, 7a
1898 114
95
N. Y. & R'way B.— Ist.g. 58.1927
961s
Ohlc.AX.W.— Kac.AL.8.l8t,68.1901 106
2dmortK., inc
1927
DesM. A Minn.— lat, 7s.... 1907 121
8mithtownAPt..Tefl'.— l8t,7a 1901 *105
Iowa Midland— lat, 88
Loul8.Evnu8.ASt. L.—Con.5e.l939
1900
Peninsula— l8t, conv.,78...I898 115
Louia. A Naah.— Cecil. Br, 78. 1907 104
Chic. A .Milwaukee- l8t, 7a. 1898
Fensaoola Division, 68
1920 104%
Win. A St. P.— 2d. 7s
St. Louis Division, let, 68...1921 '112
1907
Mil. A Mad.— let, 68
111
2d, 38
1905
1980
Ott. C, F. A St. P. -lat, 58.. 1909 1041s
Naehv. A Decatur— l8t, 78. .1900 115
Northern III.— lat, 58...
1910 lC4is 106
8. f.,6a.-S. A N. Ala
1910 101 14
0.R.I.&P.-n.M.AF.D.,l8t48'.1905
76
1040, gold, 6a
1924 100
Ist. '^'«*
50
50 year 59, g.,
1905
1937 100
Extension, 48...
1905
Unlflod, gold, 49
1940
Keokuk ADes M.-l8t,5s!:i923 "91 ie
Pens. A At.- Ist, 6a, gold. ..1921 101
Ohio. St. P A Kan. aty-59..1936
Nash. Flor. A 8. 1st gu. 59.,1937
99
Minn. A N. W.— lat, (?., 5a 1934
Lou.N.AIb.ACh.— Gen.ui.g.59.1940 80
Ohle.St.P.AMlun.-l8t,6s.".'.1918 120 121
Lou. N. O. A Tex.— Ist, 48.... 1934
86
St. Paul AS. C.-lat, 68
1919 1191a 120
2d mort., 58
1934
Oh 0. A W. Ind.— lat, a. f., 63.1919
Manhattan By.— Cons. 48
1990
General mortgage, 68
115
1932
Memphis A Charl.—6e, gold. .1924
*'i?, '^'^f^2d, (TOId, 4iaa
1937
Oin. I. St. L.A Chic.— l8t,g.,48!l936
Consol., 68
1920
Oin. Jack. A Mac.-latj «., 58:i936
Ask.
74% 76
rt.
99
'
Bid.
Worth A R.O.-latc., 58.1028
ttl Har. A Ban Ant.— l»t. Oa. 1910
108>ii
fiH
Gdlil hoiulM,
Golil lioiulH,
VRICKH.—INACTIVE BONDS-r ContinuedJ -MAY
8ECURITU8.
Ask.
107^
718
Conaumera Gas
Co.,
52dg.6s,1904
Co., Chicago
1919 ido"
Peoria Water Co.—6e, g
ids' West. Union Tel.— 79... 1875-1900 108
107
79ifl
101
116
tJnIiHted Bonds.
Ala.&V1ck8.-Conaol.5g.,192l.A*0
ComatockTun.— Ine.4a,
Georgia
Pac— let
68, 1922.
Conaol. 5 g, 1923....
96
74
106
90
70
96
120
1919.MA.N
34
till '94, 1921. .AAO
Vlcks. A>lerld.,l8t6a,1921.AAO
Atlanta A Charl. -let 78,1907.JAJ
2d M., Income
J4J 106
.A&O 68
. . .
Income .5a
UttloB.AMem.- lst3g,1937.M48
18
60
Mem.ACharl.-CoD8.7g.,1915.JAJ 110
8tL.Ark.*Tex.-l8t48.When isau'd 69
When laau'd 33
2d 4s. Income
98
80
100
^
37
107
«eia
20
70
115
70
3«
..
.
1
..
.
.. .
THE CHRONICLE.
714
[Vol.
Latest Earnings Reported.
%nvitstmtnt
Bo ASS.
Week or Mo
189 L
1890.
AND
wk
Ga. Car'la
J:
No
27,000
20,727
11.579
163.681
58.917
3,323
46,488
8,348
4,684
ITebruary..
Georgia RR
March
deu. «o. ifcFla. March
a pamphlet of 150 pages, G^orget'u&W'i February.,
The IKVE6T0RS' Supplement,
Bonds of Rail- Or. Kap. &Ind. id wk Apr.
Cin.R.&Ft. W 3d wk Apr.
contains extended tables of the Stocks and
Other lines. .. 3d wk Apr.
with remarks and statistics conroads, and other Companies,
Total all lines. 3d wk Apr.
each Company. Grand Trunk. .. Wk Mav 2
cerning the income, financial status, etc., of
Ohio &Gr.Tr Wk Apr. 25
every other month—
It is published on the last Saturday of
Det.Gr.H AM Wk Apr. 25
September and November, Great North'n
viz., January, March, May, July,
subfurnished without extra charge to all regular
are sold to mbgcribers of the Cheonicle. Extra copies
and to others at
tcribers of the Chronicle at 50 cents each,
is
$1 per copy.
The General Quotations of Stocks and Bonds, occupying
the third
six pages of the Chronicle, are published on
Saturday of each month.
RAILROAD EARNINGS.
Laltst Darnings Reported.
1891.
WeelcorMo]
Roads.
1890.
Jan. 1
to
Latest Date.
1890.
1891.
$
I
145,376
545,532
571,482
186,619
589,721 8,620.533 8,323,421
483,007
470,556
34,540
Half owned ... 3(1 wk Apr.
624,262 9,103.541 8,793,978
Total system. 3d wk Apr.
111,310 1,836.429 1,757,847
BtL.ASanF.. SdwkApr.
473,239
460,438
33,849
Half owned. 3d wk Apr.
145,159 2,309,669 2,218,284
Tot.8.L.&S.F. 3d wk Apr.
769,421 11,413.210 11,012,262
Apr.
3d wk
Aug. total
327,167
329.004
154.068
Atlanta & Char February
29,891
30.193
9.161
Atlanta & Flora MarcU
130,096
131.559
36.293
AU»nta & W.Pt. March
1,512,326 4,141,255 4,304,76.^
1,378,196,
B.&O.EaBtLines March
444,870 479,881 1 ,306,337 1,332.916
Western Lines March
1,823.066 1,992.207 5,447,592 5,637.681
March
Total
727,622
740.11.7
55,132
59.383
Bal.AO.Southw. IthwkApr.
394.390
388.098
135.529 132,480
Bait. & Potomac March
14,403
19,627
6,964
4,539
Bir. & Atlantic. March ....
29.760
32.704
14,798
13,509
Bir.Sh.&Tenn.R February..
4,571
3,035
2,023
1,366
February..
Bishopsville
8.519
7.536
3,413
4,442
Blackv. Als.&N. February..
831,487
582,597
50,775
86,56
Bufl.Roch.iPitI 4thwkApr.
45,331
55,576
Bur.C.Rap. AN. :tdwkApr.
121,378
113,910
40,815
44,395
Camden AAtl. March
96,S73
100,-.'61
52,294
52,688
Canada Atlantic i'eliruary..
Canadian Paclttc 4thwkApr. 472,000 381.000 5,810,754 4,534,823
195,212
161,827
10,173
1 1 ,007
Cp. F'r& Yad. Val 3d wk Apr.
7.507
5.0C3
2.566
3,889
Car.Cum.G&Ch. February..
724,999 639,285 2,297,931 2,228,660
Cen.KR.^ Bk.Co March
275,109
Auxiliary sys. 3 wks. Feb 276,544
906,6(>7 3,051.825 2,622,283
1,019,341
Centralof N..I.. March
Central Pacific.. February.. 1,017.883 881.031 2,206,805 1,743,100
21,261
25.510
9,966
13.556
Centralof 8.C.. February..
53,990
52.703
Centr'lVerm'nt. WkFeb 28
9,748
10,430
N.London Noi WkFeb. 28
10,809
10,216
ORd.&LakeCh WkFeb. 28
660,428
74.547
73,415
673,747
Tot. system. WkFeb. 28
27.112
Char.Cin. * Chic February.
1 4,197
11,903
20,266
238.886
Charleat'n & Sav March
65.793
214,369
79,349
21.380
6.242
Char.Sum.&No. February..
10,703
10.843
23.03J
7,724
23.543
Chatt'u'KaUni'u March
7,000
10,28:-i
25,038
Oheraw. & Darl February.
11,574
20,217
3,465
2,852
6,618
Cheraw.&Saliab February..
5.393
Ches.* Ohio.... 4ihwk Apr. 209,709 182,432 2,601,484 2,361,9(19
568.33
Ches.O. &e. W
arch
174,365 154.320
483,518
13.192
Cnes. & Lenoir February..
6.626
6,3
12.787
Ohio. Burl. & Q. March
2,489.279 3,160,747 7.057.013 8,467,566
Chlc.A East. 111. IthwIiApr.
1,185,157
67,353
67,13
972,668
Chic.Mil.&St.P. -tthwkApr.
664,547 601.834 3,062,642 7,664,277
Ohio. AN'thwu. March
2,029.078 1,910,31' 5,630,327 5,520,711
Ohic.Peo.&St.L .January...
45,964
45.904
31.815
31.845
Chic.Kockl.&P. Aiiril
1,267,815 1,239,209 4,608.037 4,906.5ii8
Chlc.St.P.&K.L;. 3d wk Apr
82,147
73,095 1.176,923 l,-257,452
Ohic.St.P.M.&O. March
5i0.4ll 528,917 1,493,393 1,469,698
Ohlc.& W.Mich. ithwkApr.
505,686
44,008
47.190
470,683
Cin.Ga.i Ports. .March
12.8.80
4.677
3.833
11,534
2il,85J
Cln.Jack&Mai:. 4thwkApr.
16.099
16,298
191,627
Cln.N. O. AT.P. 3a wk Apr
83,70) 1,253,528 1,237,070
76,13;
Ala.Gt.8outh. 3d wk Apr.
560,548
33,093
34.068
571,902
N. Orl. & N. E. 3d wk Apr.
341.523
19,603
23.579
345,391
Ala. & Vickab. ad wk Apr
8,H22
191.768
9,574
197,173
Vicks. 8h. & P. 3d wk Apr.
186,859
5,653
7,927
183.045
Erlanper Byst. 3d wk Apr. 145,5-52 15 ',5
2,534,V26 2,531.631
Olnn.Northw'u. March
4.906
1,219
1,410
4.643
Oin.Wab.iMich. March. ...
138,543
50,961
50,351
128,5^9
Olev.Akron&Col 3awkApr.
16,051
262.688
19,456
230,389
Olev. & Canton.. March
44.011
38.200
121,915
105,306
Ol.Cin.Ch.ib.l., 3dwkApr.
231.205 243,180 3,8l«;,921 3,691,597
Peo. & East'n. 3d wk Apr.
26,4K2
25,040
449.343
462,731
Clev.A Marietta March
30,901
81.217
21,585
57,463
Color. Midland. 3d wk Apr.
36,255
583,893
31,858
516,924
CjI.H.V. &To1. April
865.15"
253,008 2U2,985
806.434
Colusa & Lake.. J.inuary.
1.742
1,266
1,742
1,266
Covin. &Macon. March
10,678
11,852
35,924
38,222
Day Pt.W.&Ch.. .Tannary...
45,677
45,67'
39,539
39,539
DeoT. & Rio Qr. 4thwkApr. 175,000 190,400 2,379,142 2,375,103
DesMoin. & No. March
8,973
7.947
24,385
l-»,970
DesM.&N'westi.March
17,284
15,795
46,006
50,020
I>et.BayC.&Alp 2d wk Apr.
7,149
8,626
143,400
156,017
Det.Lan8V&No4thwkApr.
31,213
30,386
368.299
367,258
DUuth8.8.&Atl 4thwkApr.
38,055
59.728
486,496
497,631
East Louisiana. February.
6,600
6,466
17,100
16,198
E.Tenn.Va.&Ga. .February.. 524,4 67 524,953 1,145,534 1,127,127
Kdoxv.A Ohio February..
54,551
46,619
126,37;>
100,138
Total system. 2d wk Apr.
125.299 126,018 2,05.i,952 2,059,531
El(5lnJol.AEa8t.!Fet)ruary
49,'i66
44,445
95,963
83,667
EUx.Lex.<fcB.S...|.March..,..
52,927
62.670
Eiran9.&lnd'plis,4thwkApr.
7,687
l6i".394
7,287
83,936
Evansv. 4 T. H. 4thwkApr.
SO.TtO
25.891
352.670
310,277
Fltohburg
575.0ti6 561.481 1,626,148 1,553,291
March
Flint. A P. Mara. 4thwk Apr.
78,492
79,801 1,024,657, 1,049,160
Florence
February
6.4361
4.584
12,541'
10,005
46.000
197,983
617,206
33,320
650,5^7
115.«64
32,766
148,6S0
799,157
155,H32
8.818
36,538
AliibamaMidl'a. March
Marcb
Atch.T. &8.Fe.. 3cl wkApr.
AUegneny
Vai..
. .
.
.
.
.
1
.
to Latest Date.
1890
1891.
»
472.2071
70.535
22,399
535,939
191, .306
1
Plor. Cent.* P. 33
Apr.
Ft. W. & Rio fir April
and
Jan. 1
m.
.59.520
335,199
69,319
23,142
&M.
789,485
Montana Cent.
107,124
963.310
3,099
115,525
13,500
6,200
P.M.
April
East, of Minn. April
April
Tot. system. April
St.
6i>.701
Gulf & Chicago. March
Uousatouic
March
Huraest'n&Shei) March.....
Hmch.&South' February..
23,869
8,541
5.2911
152,3.-i7
5-2,651
3.258
7..353
52294
662,453
127,682
67,348
9,343
4,339
65,976
381,557
79,553
24,405
747.438
42,031
84.198
873,717
4,293
85ii,645
6,165.578
1,24'',492
350.383
2,716,112
200,766
378,6.52
3,295..570
9.257
402.359
35.488
1O.701
490,715
152,996
6,679
727,601
132,008
62,266
921.874
6.411,977
1,233,300
337,931
2,375,451
137,664
287,199
2,800,313
11,837
331,811
35,292
7.343
3,927,746
97,626
322.957
39,500
11,656
12.610
4,220
1,452.439 1,301,908 4,368,815
Illinois Ceutr'la. March
109,956
36.510
35.709
lua.Dec.A West Mivrch
9 18, .567
851.055
283.674 274,272
In. &Gt.North'n March
508,381
556.492
37.585
24,484
Iowa Central.. IthwkApr.
9.632
9,752
3,803
3,537
Iron Railway.. vf arch
212,083
320,799
26.103
16.365
Jack'v.South't'n IthwkApr,
221,539
273.053
103,007
71,581
J'k'nv.T.&K.Ws March
78,358
90,915
6,856
5,468
Kanawha&.Mlch 3d wk Apr.
128,839
6.-26
10<,365
8,615
Kan. C. Cl.&Sp IthwkApr.
110,138 103,728 1,524,573 1,565,195
K.C.F.8. <feMem. tthwkApr.
389,729
362.503
22.003
21,143
K.C.Mem. (feBir. 3d wk Apr.
71,382
85.326
85.32H
71,382
Kentucky Cent January...
105,983
112,679
6,590
5,609
Keokuk & West. 3d wk Apr.
9,175
9.586
4,053
4,324
Kiugst'n & Pern. 4thwk Jan
14,970
15.723
5.811
5,727
L. Erie All. & So March
942,000
960.079
75.824
74.853
tthwkApr.
L. Erie & West.
103,718
120.690
28.787
28.680
Lehigh & Hud.. April
173,768
212,992
9,656
7,707
L. Rock & Mem. 3g wk Apr.
907,454
999,594
292,655 279.519
April
Long Island
67,412
58.284
28,825
33,880
Louls.&Mo.RiT. February.
355,474
472. 2"6
39,4 06
33,085
Louis.Ev.&St.L. IthwkApr.
Louisv.&Nashv. 4thwkApr. 465.075 451,622 6,164,415 6,004,357
734,859
808.6-9
61,
67,574
Louis.N.A&Ch. IthwkApr
921,995
29 0.")8 1,214.127
78.439
Louisv.N.O. AT. ithwkApr.
112,312
13-1,309
14,223
12,338
Lou.St.L.&Tex. 4thwkApr,
14,571
37,000
5.171
13,000
March
Lynchtt.&Dur'm
526,518
491,418
38.307
33.548
Memphis &Chas 2d wk Apr.
188,996 162.821 2,2.".9.310 2,224,789
(Mexican Cent. IthwkApr.
120,070
96,887 1,3«6,310 1,278,976
[Mex. National tthwkApr.
993,182
79,6r<4 1,085,364
88,349
iMexican K'way WkiMch28
998,736
915.959
96,614
72,159
Mil.L.Sh.&Wesl 4thwkApr.
472,289
515.326
39,882
44,972
Milwaukee &No 4th wk Apr.
22,880
27,890
7,767
10,300
Mineral Range.. March
336,175
356.319
134.240 130.114
Miuneap. &St.L. Mtirch
489,082
449,729
163.544 130,275
M.St.P. &S.8.M. .March
2,577,424
Mo. Kan. & Tex. 4thwkApr, 203,957
102.647
7,738
Kan. C. & Pac, 4thwkApr,
211,697 186,258 2,680.071 2,527,946
Total Syst'm 4thwkApr.
73,840
83,612
3,537
5,331
Blrm 3d wk Apr.
Mobile &
280,565 254,113 1,174,291 1,038,446
April
Mobile & Ohio
71.500
220.740
18,100
72.637
March
Monterev&M.G
859.081
957,231
308.995 271.182
Nash.Ch.&St.L. March
53,390
57,925
19,063
19,971
March
N. Jersey <feN.Y.
37,209
41.897
11,003
11,621
New Orl. &Gull March
3,34i;0l0 3.022,979 12,329,186 11„596,759
April
S. Y. C.& H.R.ri
6,517,962 6,454,760
2,291,280 2,242,488
N. Y. L. E. &W. March
967,869 1,123,301
468,431 538,659
N. Y. Pa. & Ohio February.
481,949 452,266 1,345,770 1,285,679
N. Y.&N.Eng.. March
122,812
101.639
43,665
35,241
N. Y.& North'n. March
650,712
868.860
,55,161
74,588
N. Y.Ont. &W.. 4thwKApr.
293,142
324,925
108,302 102,723
March
S.Y. 8usq.& W..
2,530,707
176,433 146,617 2,752,4113
NorfolkAiWest.fc 4thwkAi)r.
152,313
163,60
70,594
76,796
N'theast'n(S. C.i February..
537,305 55«,373 1,506,447 1,612,174
-North'n Central. March
606,453 6.904.074 6,059,961
NoriUeru Pacittt 4thwkApr. 585,043
72,369 1,293,911 1,292,494
64.422
4thwkApr,
Ohio iV Miss
,45,574
45,!i48
14,528
15,854
Ohio&Northw.. March
1,934
2,59U
726
1,122
Col. & Maysv. March
166,642
167,426
11,871
12,261
3d wk Apr.
Ohio River
178,032
199,690
44,176
50,930
Ohio Southern.. April
64,370
94.693
4,759
6,410
Obio Val. otKy. 4thwkApr.
157,095
101,703
52,298
35,471
L.. March
Omaha 6i St.
585,559
611.73
Oregon Imp. Co. February.. 299,615 298,986 15.270,501 15,461,117
arch
5,218,706 5,470,715
Peuusyivauia ..
231,023
283,619
20,423l
18,937
PeoriuDeo.&Ev. ithwkApr.
136,849
1,<8,2H4
48,080
49,294
March
Petersburg
9f<3,528 1.009,792
325,938 386,251
Phila. & Krie... March,
March.
1,551,400 1,508,747 4.731,407 4,389,109
Phila. & Read'g ,,
.il,354,a63 l,204,627i 3,944,370 3,304,949
Coal&IrouCo.|Maicti,
.12,906.363 2,713.374 8,678,778 7,694,057
Total both Cos. Maich.
8,518
10,555
3,202
3,789
Pitts. Mar. &Ch.|March
37,843
40,356
18.822
18,681
Pitt.8hen.& L.E. J ebruary.
332,655
316,243
112,093 115.70IJ
eiitsb.* West'u [March
113,358
92.670
43.031
33,927
Pitts.Clev.&T. March.
52,650
59.108
16,948
22,696
Pain. &F. March,
Pitts.
681,492
610,001
56,254
44,045
4thwkApr.
Totjil system
110,816
135,065
31,896
41,753
March
Pt. Royal <te Aug.
124,418
134,766
40,174
40,305
Pt.Roy.aiVV.om. March
199,257
103,314
93,045
February..
48,517
Pitt.Young.&A.
10,477
8,424
10.477
8,424
Pres.i»Ani.Ceu. January.
55,485
62,519
19,750
20,369
yuinoyO.&K.C. March
424.600 2,021.150 1,008,200
482.200
Rich.&Danville. April
677,700
717.300
April
187,700 183,300
Vir. Midland..
323,660
S39.150
65,700
73.8110
Char.Col.<SAu. April
310,238
322, 100
50.300
April
60,800
Col. & Greenv.
312,994
332,250
81,950
90,100
West. No. Car. April
606,175
625.150
148,400 118,200
April
Georgia Pac
36,398
39,950
11,100
1 1,900
Wash.O.&W.. Aiirll
42,257
4s',028
10,150
11,375
Ashv. & Spart. April
4,444,000 4,223,622
210,600:
Total Sys'm. 4thwkApr. 244,825
83,358
»0,357
28,316
28,414
Rich. & Poteral) M.arch
52,114
16,079
Rio Gr'de South. April
407,508
651,668
28.9l6|
45,500
3d wk Apr.
Rio Gr. West.
320.617 333.505
Rome W. & Ogd. April. ..
i 8,021
20.556
7,046
7,362
Sag.TuscolaiH. March...
383,086
445,318
31,312
30.140
6t.L.A.diT.H.B'6 ithwkApr,
1,178,764
8.1,844 1,287.187
86,0S6
277,315
8t.L. Ark. c&Tex. IthwkApr.
293.983
108,143 112,718
1,260,690
at. Paul & Dul'th March
170,220 175.663 1,564,681
S.Ant.&Ar.Pasa November.
1 59,067
182,978
13,277
12.339
66,604
B. Fran.&N.Pao. l3d wk Apr.
121,314
23,034
38,612
96.055
8av. Am. & Mon. March
103,305
7,465
6,460
3d wkApr.
nU.
Seattle!.. S.& E.
7,025
nU,
7,025
January...
SUverton
65,795
31,846
flioux City & No February.
—
.
.(1
|
.
.
.
129,8.57
.
Mat
..
.
.
.
.
.
..
THE CHKONICLR
9, 1801.]
Jan.
Late*t Karnlng$ Reported.
R iXDt.
WetkorSto
Bo. I•»(•lllcCo.—
189t.
«
151,380
Marob
Booth Cnrollna
1890.
351.121
March
Man'h
Mareh
Loiits'u \V(Hl
MorirairKl.,l-T.
no,.',2!t
429.378
80. Pao. KK.—
Kg. DIv. (Cal.) February..
Bo. Dlv. (Cal.) February.
Febniary.
February,
February..
i>iv..
NewMei.Dlv.
Spar. Un. ACol
8Mt4«n I. Knp. T. Mareh
BtonyCI.ACMt.. Febniary
Baminit Branch. March
.
March
L.Vkens Valley
Tofl both o/b Mareh
Tenn. Miaiand.. March
TezHH 4 Paritlo ;4thwkApr.
Tex.8.Va>&N.\V. Marob
Tol.A.A.AN. M. April
Tol. Col. ACIn.. '4thwkApr.
I
llO.l'.O
4 l(i,-.!S1
l.'>3.127
84,531
12.120
57,772
1,058
»4,2Jl
70,823
165.044
15.713
148,512
3.638
89,555
8.279
41,076
S
906,043
434,201
352,182
87,187
415.917
10.473
992,202
226,791
1,533,965
33,715
860.067
3.171.843
4.982.064
7,165,560
071.980
Tol.A Ohio Cent. JthwkApr
10.(>'_'l
ToI.AO.Cen.Ex. Deeoniber.
21,608
Tol. P. A West
4th\vkApr.
Tol. St. L. A K.C !4thwkApr.
40,08 i
2.267
Tol.ASo.Iiavou. Mareh
Ulster A Del.... February.
19,623
DulOD Pacitlc—
Or. 8. L. A U.N. February.
5t4 ,641
317 ,300
Or.Ry.A N.(;o. February.
BtJo.&OMIal. February.
52 ,808
371 ,037
Un.Pae.D.AG. February.
All oth. lines.. Febniary. 1.36'! ,413
Tor.U.P.Sys. March
3.176 ,8.")8
0«nt.Br.AL.L. F^ebruary.
48, ,186
Tot. eont'led February. 2,730 404
Montana Un.. February..
91, 409
Leav.Top. A 8. February..
2, 755
Man.Al.A Bur. [February..
3, 074
Joint. own'd.'s February..
48, ,619
Grand total February. 2,779, 023
tr.S'kYds.AT.Co February..
235, 890
Vermont Valley March
13, 714
.
!
'
I
'
Wabash
'4th\vkApr.
Wab. Che.'t.AW. February.
Wash. Southern.. March
I
'
[March
We-'t Jersey
M
W.V.Cen.&Pitts.
West V. A
Pitts.
322, ,476
820
22, 258
4.
99, 155
83, 493
rch
Febniary
4thwkApr.
.
Wrlffhtsr.&Ten. March
Zanesv. A Ohio. January...
7.876
40.310
8.397
19.797
38.6i3
1.904
17,301
401,009
222,663
105.186
369,277
505.487
3, 485,585
95.606
699,228
55,515
2,187
2.883
30.292
729,521
199.033
15.966
290.201
4,386
21.775
7, ,898
11, 261
9,741
9,
March
4thwkApr.
4thwkApr.
2.681
98,886
67,610
6,643
39.379
93.900
29.393
99.380
103.071
8.451
'March
Western of Ala.
West.N.Y. A Pa.
WheelintcAL. E.
Wil. Col. & Air.
Wisconsin Cent.
724
42, 701
79, 400
34. 226
98, ,883
ll.^,
j
853
261.7-<9
1,24'..700
3.->. <18
465.750
2,980,608
4,I4«.:<22
6,113.365
129,102
243.229
215.542
449,580
955.213
339.137
150,241
297.038
74,259
177.195
147.720
11.850
26.176
23.787
52.512
170.039
152.S97
969
2.165
2.120
68.150
299.980
184.645
209.395
67,030
105,930
135.18H
50».374
3.50,.573
15.009
45.770
47.505
150.820 2,145,039 2,229.(85
191.233
9.982
332.79
106,232
445,444
109.312
288.894
509.310
5.762
39,288
405,073
93.905
298.453
497.112
5.384
31,309
1,177,304
734,053
821,1.57
34>912
102,650
760.117
2.846.783
8,834,869
2.937.2H2
8.516.743
9.991
3(!7,.<H8
228.3!>9
782.543
92,90(1
204.522
5,235.681
115,901
4,784
5.572
63.128
5,298.809
176.016
4,863
6.100
93,490
5,394.400
498,9^4
438.017
38,239
40.137
3,957,959 4,165.413
9,493
8,844
66,790
60.291
266.187
276,963
262,393
197.404
18531
24,774
153,261
150.219
1,063,466 1,100.461
352.180
388,498
207.193
206.003
1,500.338 1,445.383
23.4:U
25,728
11,261
9,741
a Whole system, including Iowa lines.
6 Includes In both years
Bcioto Valley Dlv., and Maryland A Waahlnsrton Div. (Shenandoah
Valley.)
e Includes earnings from ferries, etc., not given separately.
1 Mexican currency.
<; Main Line.
it Includes Rome
Wat. A Oed. since March 15. In 1891. The earnings of Rome Wat. A
Ogd. for 16 days of March were $185,889, and tor April $320,617.
—
latest
weekly
summed up
as
follows:
For the 4th week April our statement covers 59 roads, and
the gain reaches 6 -69 per cent in the aggregate.
4th iveek of Api-il.
Bait.
A
1891.
$
Ohio Sonthw
.59.38:1
Buflalo Roeh. A Pitts....
Cana<liau I'acittc
Chesapeake
A Ohio
ChlcaL'o A Kast. Illinois
Chlcairo Mil. A St. Paul..
.
A West Mich
Ctnciun.ati Jack. A Mack.
Chicago
Denver
Rio Grande...
Detroit Lansing A North.
,ii
Duluth 8. 8. A Atlantic...
EvansvlUe A ludianap...
Evans. A Torre Haute...
Flint A Pore Marquette.
•Grand Tniuk of Canada
•Chicago iV Gr. Trunk.
•Det. Gd. Uav. A MU..
Iowa
Central
Jacksonville Southeast..
Kansas City CI. A Siir....
Kan. City Ft. 8. A ^Ieln..
Lake Erie A Western. ...
IjOuIsv. Evai.sv. A St. L.
Ijouisville A Nashville...
Louis. N. Alb. A Chie
Louisville N. O. A Tfxas.
Louisville St. L. A Texas.
Mexican Central
Mexican National
M.Kan. A Tex. (tot.syst'm)
Milwaukee L. 8h. & tt est.
Milwaukee <K Nor. hern..
New York Out. A West.
Norfolk A Western
Konhern
Paciflc
..
.
Ohio A Mississippi
Ohio Sou them
Ohio Val.of Kentnckr...
Poona UeeaturABvansv.
Plttjiburg A Western
BIch. A liauv. (8 roads).
8t L.Alt. AT. H.Brches
Louis Ark. A Texas...
Bt.
TexasAPacittc
86,567
472,000
209.709
67,353
664.547
44.008
1U.09S
173.000
31.213
38.035
7.687
30,790
78,492
359.812
69,319
23.142
37.585
26.103
6,726
110.138
75,824
39,406
46.1,075
67,574
78.439
14.223
188,996
120,070
211.697
72.1.59
44.972
74.588
176.433
585,043
64,422
13.617
6.410
18.937
44,045
244,825
30.140
86.086
148.582'
1890.
$
55.132
50.775
381.000
182,432
67.137
604.834
47.190
16.298
190.400
30.386
59.728
7,287
25.891
79,801
389,507
79,553
24.405
24.484
16.365
8.615
103.728
74.853
33.083
451.622
61.188
29.058
12,338
162.824
96,887
186.238
96.614
39,88 i
55,161
146,617
606,458
72,369
11,978
4.759
20.123
56,254
210.600
31,312
80,844
150.820
4(A week of April.
1891.
1890.
DtcrtaM,
Inereate.
Increase,
Decrease.
S
S
4.251
35.79i,
91.000
27,277
216
59,713
3.182
199
15,400
827
21,673
400
4,899
1.309
29.695
10.234
1,263
13,101
9.738
i.ssg
6,410
971
6.321
13,453
0,386
49,381
1,885
26 172
23;i83
•
TnlndoCol. A CInn
Toledo A Obio Oeotntl
Toledo Peoria 4t Weiitero
Toledo St. L. te KaiLCity.
Waliash
tWeHtorn S. Y. A Penn.
8.279
11,076
21.668
40.083
822,476
70.400
34.226
115,853
. .
WbeullugA Lake
Krle...
Wlaooniln Central
$
103
766
7,«7«
10.310
19,797
88,658
200.201
95.900
29.393
103.071
1,871
1.120
32,2;S
ie,soo
1.833
12,782
Total (50 road*)
6,118,381 5,762,353
098,204
172.M6
Vet iDoreane (6'69p.e.).
886,028
* For week ending April 25.
t Decrease In (rolght camlnsa doe
mainly to coal Bhlpiuonte belny reduced.
We also furnish the following preliminary summary for the
month
of April. It will be observed that on the 103 roftds
included the gain is 4'06 per cent.
Honlh of April.
Tnrrras'.
1891.
1800.
P.O.
406
Qross earnings (102 roads) $29,181,968 928,015,747 $1,139,221
The following
a comparison of the weekly
will furnish
sults for a series of
97..i54
5,800,911
Latest Gross Earniugrs by "Weeks. The
earnings in the foregoing table are geparately
716
1890.
143.750
8.475
N. Y.T.AMcx. M irch
122.078 147,ti05
Tpx. A N. orl. Man^h
9-'8.347 1.013.504
Atlantic «yH.r. March
Paolflc 9.v8t<un February.. 2.311.091 2.077.984
Totalnf ull.. .February.. 3.312.369 2.070.951
Arizona
1 (o iMtett Itale.
1891.
I
Ual.llllr..«:S.A.
—
.
.
.
.
.
.
Period and
number of roads
included,
1st week of Jan. (84
2d week of Jan. (87
3d week of Jan. (80
4th weekof Jan. (94
1st week of Feb. (90
2d week of Feb. (92
3d week of Feb. (84
4th week of i'ob. (93
1st week of Mch. (92
2d week of Mch. (89
3d week of Mch. (88
Ithweek of Mch. (76
l8t week of Apr. (86
2d week of Apr. ('S
3d week of Apr. (84
4th week of Apr. (59
re-
weeks past.
WEEKLT OROSg EABNIN08.
ro.ads).
roads).
roailal.
roads).
roads).
roads)
roads).
$
5,660,996 5,343,738
6.074,416 5.758,333
6.203.470 5,633.712
8.863.920 8.386.406
6.033.903 5.892.562
6,423,247 6.105.776
6,235.339 5.972.198
6.510.075 6,233,820
6,265.121 6,077.880
6.404.726 6.190.U92
6.618,105 6,358,600
7.162,754 6.801.583
6.4M6.053 6.179.715
6,587.866 6,283,460
6.327,445 6.144,615
6,148,381 5,762,353
Net Earnings Monthly to Latest Dates.
Inerea$e.—s
Amount.
9
1800.
$
roads).
roads).
roads)
roada).
roads).
roads).
roads).
roads)
roads)
1891.
2.39..505
361.171
306.338
304,406
182.830
386,028
—The
returns can be obtained,
table fol-
A
full
which monthly
given once a month In
is
el.
5-03
6'40
10-15
5'68
3-25
6-20
1-41
4-46
8-08
1-13
l-OS
5-31
4-96
1-84
2-07
6*81
316.081
571.728
476.514
191.343
317.471
263,361
277,855
187.241
273.734
lowing shows the net earnings reported this week.
detailed statement, including all roads from'
P.
317,2.38
thesd
eolumns, and the latest statement of this kind will be found
in the
Chroniclk of April
issue of
May
18.
The next
23.
—
Orost Eaminit
1891.
1890.
Roads.
»
i
Central of Georgia.. Mch.
724.999
639,285
Jan. 1 to Mch. 31... 2.297,931. 2,228.660
July 1 to Mch. 31... 7,134,610 6,859,741
136,791
133,411
Chic. A West Mich. Mch.
Jan. 1 to Mch. 31. .
368,082
335,337
Clevel'd A Canton.. Mch.
44,011
38.200
121,915
Jan. 1 to Mch. 31...
105,306
July 1 to Mch. 31...
456,354
358.435
106.331
Det. Lan.s. ANorth.Mcb.
93.800
Jan. 1 to Mch. 31...
263,494
266,732
Flint A PereMarq..Mch.
286.794
294,269
Jan. 1 to Mch. 31...
767,095
774,836
Northern Paciflc... Mch. 1,777,946 1,676,581
Jan. 1 to Mch. 31... 5.000.066 4,136.889
July 1 to Mch. 31... 19,447,680 16,702.255
Ohio A Mississippi.. Mch.
348.427
354.708
Jan. 1 to Mch. 31...
982,604
977.844
July 1 to Mch. 31... 3,162,102 3,232,131
386,251
Philadelphia A Erie. Mch.
323,9.38
Jan. 1 to Mch. 31...
983,528 1,009,792
Pittsburg A West'n. Mch.
112,093
115,706
316,243
332,655
Jan. 1 to Mch. 31...
33.927
13.031
Pitt8.Cleve ATol.Mch.
1 to Mch. 31...
113,359
Jan.
92,670
22.696
16,943
Pltt8.Paine8. AF.Mch.
52,650
59,108
Jan. 1 to Mch. 31...
175,686
Mch.
168,716
Total system
468,021
498,660
Jan. 1 to Mch. 31...
1.53,842
142,756
Mch.
South Carolina
434,201
508,505
Jan. 1 to Mch. 31...
July 1 to Mob. 31... 1,378,812 1,161.651
Mch. 3,176,8.58 3,405,585
Union Pacific
Jan. 1 to lUch. 31... 8,884.869 8,516,743
Mch. 1,023.338 1,056,348
Wabash
Jan. 1 to Mch. 31... 2.962.820 3.165,096
July 1 to Mch. 31... 9,947,191 10,437,783
.
.
.
will
appear in the
$9
Jfei BamiMiit.——<,
1891.
1890.
•127.602
*520,153
•1,675,-90
44,265
95,700
15.529
37,963
163,541
25.776
65,547
90.546
188,079
678.252
1,713,883
8,232,635
123.738
260,533
894,452
101.861
309,386
56.380
123,420
def.688
1,758
2.378
6,664
58.070
131,842
55.453
176.212
530,460
1,016,859
2,695,902
291.573
701.294
2,719,340
*86,162
•514,758
*1,00»,252
48.S75
106,175
12,756
28,549
118,714
30,333
64.233
96,681
220,112
710.621
1.376,793
7,251,643
100,390
248.433
1,049,453
122,947
264.090
51,719
144,381
12.130
23.561
309
8,628
64,167
176,573
57.29«
192,645
389,543
1,058,951
2,057,577
261,627
833,859
3,122,373
* Including Income from investments net In March, 1901 was $162,338. against $86,162 for last year; Jan. 1 to March 31,.$608,644.
for 9 months to March 31, $2,012,046, agaliut
again.tt $336,393;
li!2,082.6U9.
—
25,43i)
24,455
6,096
19.427
20.816
The following roads, in
Interest Charges and Surplus.
•ddition to their gross and net earnings given above, also
report charges for interest, &c., with the surplus or deficit
above or below those charges.
21,415
7,947
1,669
1,651
^Jnter't, rentals, ite.-.
1,486
12,209
31,225
1,172
5.242
2,238
^Bal. of yet. Earn:-,
1891.
Jtoad*.
Ohio.
A West Mich. Mob.
Jan. 1 to Mflh. 31...
Det Lans. A North. Mch.
Jan. 1 to Mch. 31...
Flint A Pcre Marq.Meb.
Jan. 1 to Mcb. 91...
1800.
1891.
•
•
•
23,942
71,410
26,242
7b,8s3
18.060
139,093
1890.
•__
18,723
20.323
39,89«
50,163
24.287
50,010
def.466
26,242
,1.087
78,883 def.13,.336 def.11,617
18.023
12.188
51,689
133,913
18.980
86,909
—
;
1
THE CHRONKXE
716
[Vol. LIL
Mexican Central Railway.
ANNUAL REPORTS.
Sonthern Pacific Company.
("For the year ending December 31, 1890.>'
The mileage controlled by this company in its proprietary
and leased lines amounted on Dec. 31, 1890, to 6,226 miles.
For operating purposes the roads are divided into two grand
systems, the Pacific system of 4,484 miles, and the Atlantic
system of 1,742 miles, and the roads operated in each of these
may be seen in the detailed table given in the annual
report on another page. Mr. Huntington pursues the wise
policy of issuing an elaborate annual report, giving not only
the operations and financial condition of the whole system,
but also the earnings, income account and balance-sheet of
each company embraced in the system.
In any report concerning properties of such magnitude the
remarks of the President given once a year are of much importance as a guide to stockholders and the general public.
Statistics alone are insufficient, and if there has been a
striking difference between two successive years in the net
result of operations, or in the financial condition of the company, tlie stock and land holders are always anxious to know
the reasons for such changes, and to he informed as clearly
as may be practicable concerning the future prospects of the
company. It is particularly desirable that holders of securities
living abroad should have full information. In this respect the
present report of the Southern Pacific Company, embracing in
It also the report of President Stanford of the Central Pacific,
is much better than the recent report of the Union Pacific,
which consisted almost entirely of statistical tables without
remarks or explanations by the President or other officers as
to the progress, condition or prospects of the company.
The salient point in the operations of the Southern Pacific
system in 1890 was an increase of $1,884,540 in the gross and
fl, 123,519 in the net earnings over 1889, and a surplus of
f2,377,713 over fixed charges, betterments and additions,
which was an increase of 11,081,366 over the similar balance
of 1889.
The President's report, with several important tables, will
be found on another page, and the statistics compiled for the
Chronicle, in the usual form, are given below.
The following statements show the earnings, expenditures
and income account of the company for the past three years
systems
fFor the year ending December 31, 1890.^
The Mexican Central has been one of the well managed Boston enterprises. But the company has alwaysl abored under
the disadvantage of having a railroad in Mexican territory
which was not capable of such rapid development as agricultural districts in the United States. The negotiations with
the Mexican Government were so well conducted as to result
in the payment of a gross sum in lieu of the annual subsidy,
which sum was suffirtent to retire all the prior lien bonds
and leave about $4,400,000 to be put in trust and used as may
be necessary for the payment of principal and interest of the
consolidated mortgage bonds. The whole transaction appears
to reflect credit on the Mexican Government and on the officers of this company.
The board of directors has been called upon to lament the
loss of the late President, Mr. Levi C. Wade, and they have
elected as a worthy successor Mr. S. W. Reynolds, who has
long been familiar with the affairs of the company.
The annual report of the directors, with remarks and tables
in some detail, will be found on a subsequent page; the comparative statistics for several years, compiled in the usual
for the Chronicle, are as follows:
form
EARNINGS AND EXPENSES.
1887.
1,236
Average miles operated....
1888.
1,316
1890.
1,527
1889.
1.462
Earniniis from—
$
$
Passengers
1,235,284 l,3':i,512
Freight
3,458,006 4,244,648
Exiffess.teleg'h&mlscers. 193,288
208,171
$
$
1,420,376
4,683,291
233,553
1,436,318
4,702,143
6.337.225
3,511,827
6,425,694
4,001,170
Neteamings(Mex.cur'cy).2,169,125 2,3S5,493 2,825,398
Neteaming8(U.S.cur'cy). 1,680,295 1,748,458 2.096,056
INCOME ACCOUNT (UNITED STATES CUKRENOV).
2,424,524
1,978,157
Total earnings
5,774,331
3,418,838
4,886,578
2,717,453
Operating expenses
1887.
Receipts—
Net earnings, &c
Net subsidy received
Miscellaneous
1888.
287,233
18S9.
1890.
$
$
1,748,459
474,922
1,273
f
$
1,680,295
204,845
2,096.056
812.912
1,978,157
22,54.^
601,127
17,953
Total net Income
1,885,140 2,224,654
Disbn rscm en is
Interest on coupon notes.. 316,313
316,313
Interest on niortg. bonds.. 1,254.677 1,357,717
2,931,510
2,597,237
—
Interest on debentures
Miscellaneous
250,000
74,612
250,000
77,575
91,981
1,767,-595
2,406,114
28,467
180.067
105,881
261
:
EABNINQS AND EXPENSES.
1888.
1.895,602 2,001,605 2,145,524 2.434,842
df.10,462 Rr.223,049 8r.785,986 8r.ll62,395
Total
Balance
1889.
1890.
$
$
$
14,693,782
27,219,532
4,429,894
29,:i06,226
Hall, express, &c'
14,516,912
28,107,831
4,074,872
Total earnings
46,699,615
46,343,208
48,202,000
Expenses
Maint'nceof way andstruct's. 6,682,724
Maintenance of equipment
3,802,130
Transportation*
17,519,383
General
2,70'l,438
6,799,370
3,792,484
16,762,125
2,950,387
7,563,376
3,840,366
10,9^2 118
2,661,869
30,304,366
16,038,842
31,007,729
17,194,271
Earnings—
Passengers
FrelgUt
—
Total expenses
30,708,675
15,990,910
Net earnings
*
14,507,341
4,388,433
1888.
1889.
1890.
5,931-97 Miles 6,052-47 Miles 6,225-93 Miles
of Railroad ; of Railroad ; of Railroad
also Steamalso Steamalso Steamship Lines,
ship Lines.
ship Lines
$
$
46,699,615
30,708,676
46,343,208
30,304,366
$
48 201995
'
31 |o07',730
Net earnings
Bentals received
15,990,939
566,196
16,038,842
521,952
17.194 265
509|516
B T°,**'--.i
Rentals paid
16,557,135
16,560,794
913,451
1,218,510
17,703,781
2,131,961
14,428,833
2,292,713
15,411,068
1,405,-^63
768 ,091
Total
Ket
2,173,3114
receipts
14,383,781
1058 41^
Z>S6«™^fS*i
BettermcntH and
1887.
Miles operated.
1,34
Operations
Pass, carr'd No.l
3,752,840
Pass'germileage.203,761,459
Rate p. pa.«8. p.m. 2-260 cts.
Frg'f(t'n8)m'ved 9,326,852
Fr'g trt'nsjmil'ge '1,843,785
0-670 cts.
Av.r'tep.t'n.p.m.
—
. .
artilitions ...
1888.
1,342
1889.
1,410
1890.
1,445
4,051,704
210,107,098
2-289 cts.
9,069,857
*1,799,101
0-836 cts.
4,413,592
222,555.555
5,019,-595
225,-,i65,137
2-284 cts.
10,020,599
Mail,exp.,r't8&c.
1,512,386
1
2-246 cts.
1.531.266
156,677
0-626 cts.
*1, 859.009
0-664 cts.
*2,
4,810,148
11,629,174
1,590,305
5,082,480
12,545,810
1,858,906
5,060,023
13,759,122
2,046,615
18,029,627
19,487,196
20,865,760
2,500.494
1,460,753
6,866,901
482,223
2,775,565
2,473.982
7,103,488
3,162,158
2,827,341
7,735,079
494,417
495,902
11,310,371
6,719,256
62-73
12,847,452
6,639,744
65-93
14,220,481
6,645,279
68-15
$
4,650,653
12,.547,923
$
11234:298
Tot. gross earn. 18,710,962
Oper. ExpensesMain. of way, »&c.
2,079,084
Mam. ofequipm't l,H9ri,012
Transp. & miscel. 6,479,445
Taxes
476,257
l«f'
1«|0.
15,411068
li;^6-:iil
"'115:1!^
'"iltit^
I^.^iE^s P.cop.extoeam.
58-95
^?'3««^o
Three ciphers omitted.
722,019
Cent. PaciflcRK. sinking funds.
275 OOO
Cent PaciHc RR sinking funds
In U. S. Ticasury
467 217
Net profit^reutPaciflc lines...
962,830
Balance to make guar, rental
Central Pacific
397 170
Net profit t« proprietary lines.. 1,"358 750
Miscellaneous
275,032
Total disbursements
"*'^° '^
31, 1890.^
:
Earnings—
Freight
15,863,024
]ntltllZ'ZlZ%^Ztv.:::::
December
OPERATIONS AND FISCAL RESULTS.
14,428,833
668,001
:
*"'°''^
Miciiigan Soutliern.
report, just issued, is composed almost entirely
of statistical tables, arranged in the usual clear and admirable
shape. There is nothing in the brief remarks to call for comment, as they refer only to the matters of fact given in the
tables below.
The comparative statistics for four years, compiled for the
14,383,781
1,479,243
necHpIsSSjk?",
Other income
&
The annual
Passenger
INCOME ACCOUNT.
'%^-
Sliore
("For the year ending
Chronicle, are as follows
EARNINGS, EXPENSES, RENTALS AND TAXES.
T»»eg
was $495,779.
Lake
Includes steamships.
Gross earnings
Operating expenses
: ^270,059 was spent for equipment and Improvements, and $78,825
transferred to credit of " equipment f und,"leavlng $ 1 86,489 deficit for
year. Tlie balance to credit of income account Occembor 31, 1890,
14,653.654
8ur.l,209,37l
712:500
Total
Net earnings
-436 508
215,0^
^'J,"ww
4r-'ǤB
l^g'g^
^5,000
Qiq
coo /»-«
898'610
898,610
.lo-, o„„
2 586 772
d'is
i."oo,*j.»
1,031,419
lOi ^ai
Ifiu'Ml
'120:058
I5j93,3 58
def.296,474
4i:Iio
16 328 461
detmW
the net amounts as here given.
»2,40?,261°"''* "* "'"**" "' '"come account Deo.
INCOME ACCOUNT.
1887.
1889.
1890.
$
$
$
7,681,164
129,999
6,719,256
219,892
6,639,744
382,541
6,615,279
498,759
Total Income 7,811,164
I>i8barsements—
Rentals paid
449,313
Interest on debt.
3,276,140
Dlv'dsoneu. s'k.
53,350
6,939,148
7,022,-285
7,144,038
517,418
3,257,515
53,350
507,645
3,245,015
53,350
564,419
3,225,725
53,350
3,828.283
3,110,865
2,473,325
3,806,010
3,216,275
2,473,325
3,843,494
3,300,544
2,967,990
Int., divid's,
&c.
Rate of divid'ds.
31,
1888.
Receipts—
Net earnings
Total dlsb'ts.
Surplus fordtv'd.
Dividends
JnfWng
11.029,798
7,681,164
3,778,803
4,1,32,360
1,978,660
(4 p. c.)
1890,
Burplus
2,053,700
(5
p
.
0.)
637,540
(5 p- C-)
742,950
$
(6 p.
c.)
332.554
.
Mat
THE CHRONICLE
9.1891,
OBMBRAL DALANCS AT'CLOSB Or EACD FISCAL TBAB.
1888,
1889,
1887.
a
9
•
70,0i><,000
R'lr'a,b'l<rs8,&o.
70,001,343
17,300,000
3M.<H)7
14.304,399
007,400
St
1890.
70,991, 4.^0
1, 701,'.) 11
17,300,000
3,M.730
11,912,018
004,400
1,801,208
oo4,.'ini
034,;t4.1
377, 4.-W
2.ni>l,182
734.»<I0
3,207,013
403,»5tt
3,734,339
402,2*1
Total aaseta. 108.780,010
100,383.539
100,021, 23-1
110,510,043
SO.000,000
46,.'> 10,000
1,.'5 10.070
707,007
10,049,802
50,000,000
40,200,000
1,510,070
7S1.815
11,392,753
11,047,211
17,300,000
Eniil|>iiieiit
K'Uw
Aotlloop'ty
Ht'kH OWIMMl.cOrtl
M,7t!!>,!>ri'J
B'llM(IWIIO»l,0OHt.
<il!
AdvanooD
Bfnter'U,fuol,iicc.
Canh
oil liiiuJ
Unoolt't4Mloams.
1.100
l,,^:!,?!!
60.000,000
46,700.000
Bonds
Otliii- lliiDlllUeB.
1,016,00,'5
91 1,11)9
Profit nu<l lOBg..
10,087,172
Dlvlil.'iuN
17,.3(M),(HK1
n.M.OOM
14,H.-i:),()l>i
007, too
1,949
«o:t.:M9
l.-'^O
LiabUUiaStock
3,112,7.'>0
772,080
November, 1890, there became due $200,000 in 8 per cent
bonds of the Michigan Air Line Railroad Company, secured
by a similar mortgage. This company having expended a
verv considerable sum in making permanent improvements
on tlie Air Line, and having chari<ed the amount so expenderl
to 'Air Line Construction Account,' and it being considered
desirable that further improvements should be made on the
property, in order to take up the bonds becoming due as
stated, and to provide for the payments of the improvements
named, an issue of $2,600,000 in fifty-year bonds of this company, bearing interest at 4 per cent, was made, secured by a
general mortgage on the Air Line property. The saving
»
effected in annual interest by this process was $64,000." *
" During the year tlie company acquired the control, by a
lease, of the Battle Creek & Sturgis Railway, between Battle
Creek <& Sturgis, a distance of 41 miles, upon a guarantee of
$500,000 in 100 year 3 per cent gold bonds." * *
"During theyear, in accordance with the contract of the
Canada Southern Company, there was constructed fifty-five
miles of second track, in the sections from Welland to
Cayuga, from St. Clair Junction to Dutton, and from Yarmouth to Springfield, which has been 'paid for by that
company through proceeds of its second mortgage bonds
of
*
*
" The freight traffic shows an increase in tons moved one
mile of 137,000,000 tons, and in earnings of $574,000, the increase appearing in both east and west bound through, and
also in local traffic. The rate per ton per mile shows a
decrease from 0-726 to 0'695, or 0-031. The passenger traffic
shows an increase of 8,259,000 in passengers moved one mUe,
and of $132,000 in earnings. The rate per passenger per mile
shows a decrease from 2 306 to 2-276, or 0-030." * * The increase in operating expenses in excess of that caused by increase
of traffic is due to extensive renewals of bridges and buildings,
to the construction of a large amount of new sidings, nine
and one-half miles of second track, and to the adoption at
important junctions and crossings of interlocking signals."
The comparative statistics for four years, compiled for the
Chronicle, are as follows
:
OPERATIONS ASD FISCAL RESULTS.
1887.
1,537
Miles operated
1890.
1,609
1889.
1,540
1888.
1,537
(hffratioiig—
Passenitera carried..
3,403,821
2,702,901
3,007.801
3,158,373
Pa88en(?ermlleaK0.. 18-2,492,458 185.214,934 187,040,148 195,904.013
2-20 i ets.
2270 cts.
Rate p. pikss. p. mile. 2-293 eta.
2 300 cts.
Fr'Kht (tons) moved.
0,014,233
0.231,421
6,299,948
0,977,571
Fr'glititons) mileacc *1,.'?40,673
1,279.412
0-094 cts.
Av. rate p. ton p. mile. 0-694 cts.
Eamingi —
$
Passenger
Total, oper. expen.
Net earnings
P. c. op. exp. to earns.
31, 1890.^
In Huhmitting tlie annual report of the President for 1801,
Mr. 0«orge FoHter Peabody, Chairman of the Board, repeata
the auhotance of the several circuIarH is(«ue<l to stockholders ia
regard to the surrender of pref, stock for the 4 per cent collateral bonds of the C. C. C. & St. L. Company.
Tlusre tiaa
been so surrendered 8,126 shares of pref. stock, and fuither
applications for exchange
tive
bonds.
In commenting upon the year's operations. President O.
W. Parker remarks " Various causes con8pire<l to increase
the ratio of o[)erating expenses to earnings. The low rates
on com|>ctitivo business that prevailed during the year is the
principal cause, but tlie exceptionally open winters that have
characterized the past throe years have made it very expensive to maintain unballasted track and keep up repairs on rolling stock. Being unprepared for the large increase of tonnage that was thrown upon us, we had to handle much of it
at a disadvantage, and considerable extraordinary expense
was made necessary in extending side-tracks and providing
other facilities required to do the business,"
The earnings, expenses and rentals were as follows
CALBO SnORT MNE DIVISION,
:
:
1887.
1888.
1880.
$
$
$
9
441,401 400,790
255,883 249,936
401,748
332,005
527,708
362,149
185,518 150,860
129,653
163,618
13,780,925
NeteamlnKs
Bent of
roads
lea»c<l
Net revenue
The general resvdts of the year for the St. Louis Alton
Terre Haute Company are compiled as follows
0,.30H,3-29
270,307
307,023
304,St51
9,875,246
4,289,244
09-72
10,080,006
3,083,917
73-24
9,895,138
3,891,767
71-77
10,731,734
3,738,957
Sc
:
OKNBRAI. FINAKCIAL RESULTS.
1888.
1887.
Receipts—
From rent of main Une
Int. on C. C. C. & St. L.bonds
Branches, net over rentals..
1889.
1890.
$
$
$
$
2,365,406
1,553,068
450,000
450,000
185,520
2,437
150,860
2,540
i-29,653
2,729
8,745
037,967
003,400
582,382
606,030
409.000
Interest on funded debt
Main Une expen.scs
9,383
Bill payable, retired, &e
128,998
New equip, and betterments. 31,581
Dividends on pref. stock
409,000
18,042
469,000
9,350
469,000
059
•44,728
40,000
From
Interest,
&c
Total receipts
Dedicct—
Total deductions
Balance
.50,481
366,667
65,000
165,618
10,008
1361388
55,539
538,182
583,078
615,996
1,005 sur. 9,679 sur. 19,304 def. 9,966
638,902
def.
The company has hitherto been a year behind In the payment of
taxes. The directors have now charged these off ($-13,998 In 1889).
BALANCE SHEET DECEMBER 31.
*
1889.
Assets—
Property account
Sinking fund trust
Cash
Interest accrued on C. C. C.
Miscellaneous
1890.
$
L.
13,125,400
1,260,377
169,129
65,000
1,000
14,566,687
& St.
9
13,125,400
1,243,804
197,483
14,620,90<l
8,057,000
2,300,000
2,468,400
134,750
11 ,645
1,243,804
40,071
8,057,000
2,300,000
3,468,400
134,750
11,529
1,260,377
40,680
49,833
1,289
bonds
Total
Liabilities—
Bonds
Common
stock
Preferred stock
Accrued interest
Unpaid coupons and dividend
Sundus in sinking fund
DuoBcUevlUe Branch
Due C. CO. & St. L,
311,017
301,0M
14,566,637
14,620,906
7406
GENERAL INVESTMENT NEWS.
Alabama Midland.—The non-payment of the
May I on the first mortgage bonds, coupled with
interest
due
the offer of
the Plant interest to purchase the coupons at their face value,
has excited much comment. It has been generally understood that arrangements were made with the Metropolitan
Trust Co. the trustees of the mortgage, by which the interest
,
•
Three ciphers omitted.
1887.
Receipts-
Neteamlngs
Int.
and dividends..
Total income
DitbHrsemenls—
%
3,0s3,917
55,276
3,891,767
40,606
3,758,957
37,493
4,341,902
8,739,193
3,938,433
3,810,450
$
184,310
2,351,019
540,870
32,513
Total
SurpluBfor divld'ds.
Dividends
Hate of dividend
1,232,0.50
749,.328
*
*
$
$
4,289,244
52,718
Rentals paid
Interest on debt
Can. South'n share.
MlscelUtneous
Surplus.
1890.
1889.
1888.
3,109,312
$
184,310
The Trust Company say
and town subscriptions,
and while it is not claimed that these were not good, the faat
remained that the cash was not in hand, and therefore the
interest was not piid.
In addition to the county and town
notes there was deposited with the Trust Company $1,800,000
of common stock and $800,000 of preferred. The larger part of
the preferred went as a bonus afterwards to the piuchasers of
the bonds. It was these securitias deiwsited with the Trust
Company that were sold by the Ala. Terminal & Improvement
Co. to the Plant Investment Co. and gave control of the
was provided
INCOME ACCOUNT.
$
$
2,336,782
330,161
15,938
184,310
2,328,210
407,444
7,731
184,310
2,270,022
335,033
134,723
2,876,191
863,002
2,927,701
1,010,732
749,528
936,910
2,944.688
871,702
930,910
(4 p. c.)
(4p.
c.)
(5 p. c.)
483,122
113,474
73,822
(5 p. c.)
*
def.05,148
Balance to credit of income account Dec. 31, 1890, was $2,099,392.
•
450,000
14,490,711
1,910,932
1,721,859
5,934,744
1890.
Groes eamlnga
962,480 919,307 1,110,426 1,336,910
Operatliii; oxponsce and taxes. 521,079 548,511
048,078
809,142
Total
2,057,106
1,309,143
0,379,503
280,848
—
Mainfnocofway.&c.
Taxes
Railroad.
December
Balance income account
13,770,523
Total grosn earns. 14,104,490
fhieradufi Expenses
2,344,743
MalDt. of equipment.
1,444,712
Transport & mlseel. 5,813,484
.
& Terre IUnt«
Miscellaneous
4.184.237
9,309,987
670,266
Freight
Mall, express, Ac. . .
Alton
the year ending
must l>e |)a8»ed upon by the ElzecuCommittee. Dividend Iwndholders are not entitled to
receive anything for principal or interest until all arrears of
SO.OOO.IKW dividend upon the preferred Hto<;k and other prior legal
40,0 HI, WW claims shall liave been adjusted, and a surplus of
annual
2,no,-j.335
8H.099 earnings reached which will be applicable to such dividend
Tot Uablllt'e. 108,780,940 100,383,339 109,921,231 110,516,045
Mtcbigan Central Railroad.
fFor the year ending December 81, 1890.^
The report of Mr. C. Vanderbilt, Chairman of the Board,
states that " on the 1st of January, 1890, there became due
$1,900,000 in 8 per cent bonds of this company, secured by a
mortgage on the Michit;an Air Line Railroad, and on the 1st
sold."
Lonlii
{For
*
Aurlii—
717
for until Nov. 1, 1892.
this provision consisted of county
Tlie Terminal Co. claim the agreement of sale
provided that their guarantee of interest until November,
1892, should be assumed by the purchasers, and it was also
provided that 30 per cent of the gross earnings should go to
the Trust Company for payment of interest. The following
statement is furnished:
property.
:
THE
718
CHROiVICLE.
The Alabama Midland Railway was placed in operation on
Inthe 1st of Jane, 1890. The administration of the Plant
Testment Company began on August 1st, 1890.
The gross earnings of the property from August Ist to December 81st. 1890. were §335,413 83; from January 1st to
March Slst, 1891, the earnings were $140,346 43 total for
;
eight months, $365,759 24, or an average of $ 15,719 90 per mop th.
This would, on the above basis of demonstrated earnings,
yield $548,638 80 for the first year, 30 per cent of which would
represent net earnings of $164,591 64. The total fixed charges
amount to $198,000 per annum.
Vol,
:
\
>
>
m.
Shareholdera will receive in paTment of tlie present dividend nonintarest beariuR scrip for tlie amount of the dividend due.
Tina mrip can be used In either one of the following methods
First— It can, before AuRust 1, 1891, be sold throuRli a broker to
secure the benoflt of any premium It n.ay command.
Second— The cash for the face value thereof can be obtained at any
time from the cashier at desk No. 1.
Third— It can be converted at desk No. 1 1 into capital stock of the
company at par ($50) It presented bpfore August 1. 1891, in amounts
aggregating that sum or multiples thereof. For fractional amounts
new scrip will oe Issued.
Pittsbnrr Shenango & Lake Erie.— The United States
Circuit Court at Pittsburg granted an order this week relieving the Receiver, F. W. Huidekoper, of Meadville, Pa., from
the control of the road, and transterring the property to the
Atchison—St. Lonis & San Francisco.— The suit brought
by holders of St. Louis & San Francisco first preferred company on May 1.
stock was to annul the arrangements beiween the Atchison
Pailroads in Massachusetts.— The results for the quarter
and San Francisco companies, and asking for a receiver on
and nine months ending March 31, 1890 and 1891, were as
the technical ground of paralelling in Missouri. Judge Thayer
below given, compiled from the reports made to the Massain St. Louis received the petition and fixed May 21 as the day
for a hearing.
.
j
•
,
&
It is anSan Francisco Railway Company.
holders of such stock in making the exchange
for 4 per cent bonds will be given the same terms, and no
holders or class of holders will be accorded any more advan-
St.
Louis
chusetts Railroad Commissioners
BOSTON at ALBANY.
^Qtiar. tnding Mch 31.^ ^yine mos. end. Jfrt.31.—
1890.
1891.
1889-90.
1890 91.
Grosseamings
$2,087,542 $2,121,928 $6,854,052 $6,-65,443
Operating expenses.
1,431,510
1,533,443
4.523,054
4,582,626
:
,
—In Boston the Atchison Company has issued a circular,
dated May 5, to the holders of the first preferred stock of the
nouEced that
all
tageous terms than those set forth in the circular referred to.
Further announcement is made that the Atchison directors
have unanimously voted that oflFer to the holders of this stock,
under circular No. 66, shall expire June 3, 1891.
Chesapeake
Ohio
&
Net earnings
$656,032
223,001
& taxes
Surplus
$588,485 $2,325,998 $2,282,817
211,228
1,135.445
1,142,382
$433,031
Rentals, int.
$377,257 $1.190,.553 $1,140,435
OLD COL NY.
>~Quar end, Mar.3l,~.
1891.
1890.
earnings
$1,661,017 $1,711,864
Operating expenses. 1,346,903
1,43j.910
>
Southwestern.—A meeting of the Gross
company
will be held at the
company's oflRce in Memphis, Tenn., on the 2d day of June,
1891, to consider and act on the proposed purchase of shares
stockholders of this railroad
of stock in the Ohio Valley Railway Company of Kentucky,
and the guaranty of the principal and interest of the general
consolidated and first mortgage five per cent bonds of said
Ohio Valley Railway Company, not exceeding $3,162,600 in
amount, and approval of the proposed agreement between
the Western Contract Company and this company; also as to
the operation or lease of said Ohio Valley Railway by this
company.
Chicago Gas.— A statement of the Chicago Gas Company
for 1890 shows: Gross earnings, $3,832,000; operating expenses, $1,442,000; net earnings, $2,339,000; interest on bonds,
$1,035,000; surplus, $1,354,000, or 5-52 per cent on the stock;
Since
dividends paid, $750,000; balance, surplus, $604,000.
the organization $2,378,000 has been expended out of earnings for extensions of the plant and for improvements. It is
stated that the output for January, February and March.
1891, has increased eighteen per cent over last year, and the
company has on hand about $750,000 in cash.
—
Cleveland Cincinnati Chicago & St. Lonis. At the meeting of stockholders held in Cincinnati May 6, the contract with
the Cincinnati Wabash & Michigan RR. was approved, and
also the issue of $4,000,000 lour per cent mortgage bonds,
secured on that road.
Laclede Gas. At a meeting of stockholders of the Laclede
Oas Co., held in St. Louis, 63,294 shares were represented and
voted in favor of a resolution authorizing the board of
directois to carry out the proposed contracts with the Municipal and Missouri Electric Light Companies. The Municipal
Company is a large and well equipped arc light company, and
the Missouri Company has already demonstrated its earning
powers.
Long Island— N. Y. & Flushing.- At Albany, AprU 27,
there was filed in the Secretary of State's oflice a certificate of
surrender of the capital stock of the New York & Flushing
Railroad Company to the Long Island Railroad Company,
which is now the lessee of the former road.
Minneapolis & St. Louis. Application has been made by
the Farmers' Loan
Trust Company for leave to sue
the receiver of the Minneapolis & St.
Louis Railroad
and take possession of the property as trustee.
The
application is made on the ground that the present receiver
of the property, who was appointed two years ago, has refused
to pay the interest on the first mortgage bonds of the road
held by the Trust Company as trustee. Mr. H. B. Turner,
counsel of the Trust Company, is reported as saying: " Since
the appointment of the receiver the earnings of the road have
increased, and they are new large enough to warrant a payment of interest on the first mortgage, which is at the rate of
7^r cent. The trustee under this mortgage asked for payment and was refused. We applied to the Court for leave to
sue the receiver, and the Court ordered two coupons then due
to he paid. Only one was paid, so a new motion was made
asking for possession of that portion of the property covered
by the first mortgage. The motion was made before the District Court of Minneapolis.
It will be argued May 14.
—
—
&
New Bonds
or Stocks Anthorized or Offered.— This item
to-day published on page 707.
Norfolk a Western.—This company advertises rights to
stockholders of May 20 to take preferred stock at $52o0 per
share, 21 new shares for every 100 shares of either common
or preferred stock iield; rights will expire May 27. The proceeds will be used in part for improvements, equipment, &c.,
and partly for the Ohio extension. See advertisement.
Penu.sylvanla.— The Treasurer of the Pennsylvania Railroad has issued the following circular itj referLnce to the May
dividend of (he company
is
:
Netearnings
Other income
$314,108
249,128
$280,924
Total income.... $563,236
& taxes.' 423,211
$340,643
434,982
Int., rentals
Balance
59,719
~Nitiemo8.enfi.Mar. 31^.
1889-90.
1890-91.
$5,845,081 $6,123,679
4,J0O,000 4,555,241
$1,645,021 $1,568,438
416,400
240,491
$2,061,421
1,263,536
1,808,929
1,287,186
Br.$140,025 df.$94,339 8m-.$797,8858r.$521,718
FITCHBDRO.
^Qiiar. end. Mar. 31.-\ ^Nine mos. end. Mar. 31—
1890.
1891.
1889-90.
1890-91.
Gross earnings
$1,553,291 $1,626,148 $5,007,012 $5,150,704
Operating expenses.. 1,146,593
1,288,764
3,448,709
3,688,525
Netearnings
Otherincome
Total
Int., rentals
& taxes.
Balance
$406,698
$.^37,384
$406,698
357,449
$337,384 $1,576,000 $1,481,412
347.824
1,006,972
1,013,775
8ur.$49,248
dt. $10,440
$1,558,303
17,697
$569,028
$1,462,179
19,233
$167,637
CONNECTICUT BIVER.
-Quar. ending Mch. 31.—^ ^ Ninemos. end. 3fc7i.31—
1890.
1S91.
Gross eamines
Operating expenses.
$245,901
128,310
$245,418
142,256
Net earnings
Other income
Total
Int., rentals
& taxes.
1889-90.
1890-91.
$820,593
459,378
$849,788
497,613
$117,591
15,280
$361,315
34,259
$352,173
35,102
$132,871
29,949
$395. i74
91,276
$387,275
85,735
$304,198
$301,540
$102,922
Surplus.
$86,718
—
Railroads in New ^ork State. The reports for the Quarter and nine months ending March 31 of the New York New
Haven & Hartford Railroad, Manhattan Elevated, Long
Island, New York & Northern, and others, will be found on
page 707.
Tennessee Coal, Iron & Railroad.—The stockholders, at a
meeting at Tracy City, Tenn., on the 7th inst., voted adversely
to the proposition to sell the Tennessee Division to the English
syndicate. President Piatt said to a Chboniclk representative
that a different result would probably have been the outcome
had he been disposed to take more decided action, as he believed the proposition to sell was wise; but he did not desire to
antagonize those who thought diflferently.
Traffic Association.—The Advisory Board ot the
met in New York on the 6th inst.
All the leading roads were represented except the Southern
Pacific, and Mr. Huntington had sent his regrets, as he was
Western
Western
Traffic Association
ateent from
New
York.
The meeting was quite harmonious in tone, and as serious
objection was made to the cutting of sugar rates on he Missouri
i
Pacific by order of Mr. l<eeds. the General Traffic Manager, Mr.
Gould dismissed him from the service of the co npany.
The following resolutions were passed Without dissent
That it is the sense of this meeting that the life of this association
should be extended for some fixed period, say, to .Jan 1, 1896. in order
that certain reforms and economies may be established which cannot
now be carried into effect, owing to the uncertainty of the existence
of the association.
That the Commissioners be directed to prepare a plan by which, as
far as possil)le, indejiendent agencies shall be abolislied and ioiut
agencies established where and whenever it is found Lecc^8ary to
lessen the expenses attendant upon the conduct of the competitive
business of njeml>ers of the association.
That the Commissioners be directed to look into the matter of the
division by percentages of competitive toui<age arising at such joint
agencies and the routing tliereof, and to subn,it their report on the
subject, together with tlie plan referred to in the preceding resolution,
to each member of tliis association.
Tliat without binding any member of this association to the adoption
of tlie reports of the Commi-^sioners on the subjects above referred to,
but solely for the puri-ose of saving time, wlieu the reports i)f tlie Commissioners shall have been received by the members, they shall bo submitted without dcLiy to their respective boards of directors, with the
object of ascenaining whether li shall be i.dvisable for uiemberB
enter Into such agreement or plans as arc contomplatod tn the for
Ing resolutions.
:
May
:
:
8
1
IHE CBRONICLR
9, 16V1.]
H^jO^ovts
719
|?ocuments.
VLUdi
SOUTHERN PACIFIC COMPANY.
ABSTRACTS OF TUE REPORT FOR THE YEAR ENDING DECEMBER
31, 1800.
New York,
To
the Stockholders
March
81, 189t.
:
The President and directors herewith submit report ahoiving the operations of the proprietary lines of the Southern Pacifl*
Company, and those operated by it under leases, for the year ending Dticember 31, 1800, and statements showing their financial condition at the close of the year.
MILEAGE OF PROPRIETARY AND LEASED
The mileage of the proprietary and leased
aa follows
lines, to
LINES.
which the earnings, expenses and
traffic statistics
herein appertain,
i
:
Proprietary
Railhoads.
Total
Total
Leased Lines. Deeeutber 81,
1890.
'
Line*.
December 31,
Inerease.
1889.
Pacific Syateni.
*l,319-67
Boutboni Piwitic RuUroad of
Boutli I'acilUv Const RailwAy
N6W
Mexico...... ...... *...-->->••.........
•..••.•..•..•...
Ct'ulral Paclllc Railroad
,
1.319-67
1,283-41
384-74
171-06
104-nO
390-38
26-90
384-74
384-74
171-06
104 00
390-48
25-90
17106
104-00
300-38
25-JO
l,"360-28
554 •<*
..,,..
CalUorula Paoiltc Kailroad
1,360-.
Deo.
-lO
l,3(iO-28
57-50
115-44
554-60
57-50
115-44
'ii'5'ii
2,087-82
4,483-57
4,310-11
,
2,395-75
86-2e
474-80
79-60
ft7-0O
173-46
Atlantle Sjatem.
Texas
& New
New York
283-50
112-03
207-73
936-90
111-20
91-00
Orleans liailroad
Texaa
& Mexican
Railway
Total Atlantic System
283-50
112-03
207-73
936-90
111-20
91-00
283-50
11203
207-73
936-90
111-20
91-00
1,742-36
1,742-36
2.087-82
6,225-93
6,052-47
""i'ii
8-96
28-28
7-72
8-96
28-28
7-72
1,742-36
4,138-11
Becond tracli
South PuctfloCoaet Railway
.
Korthcrii Railway
8-96
28-28
..
Ceutval Paclflc Railroad
173-46
LenRthof sidings
* Does not include
37-24
7.72
44-96
44-96
4,175-35
2,095-54
6,270 89
6,097-43
173-46
713-97
Total second trade
382-25
1,096-22
1,05777
38-45
.,
teiween Mojave, Cal., and the Needles, as this line is perpetually leased, and contract delivered for its sale
to the Atlantic & I'ucillc Railroad Company, that Company paying as reutal an amount equal to the intereatou the bonds wliicU were issued on
said line. This rental amounts to the annual sum of $4;iG,-iJ'>6, anJ is treated as rental received for account of the Southern Pacific Railroad of
CaUforiiia in the acoountins lietwcen it and the Southern Pacific Company, as the interest paid l)y the latter, as lessee, includes interest on all
the outata .di K bonds In the reports of the Southern Paclilo Railroad Company of California this mileage is iucludod, as it is coverodby its
24:i-5l miles
tblity-year six per ccut bonds.
The average number of miles operated for the year were 6,053-46 miles, an increase of 62-99 miles over the average namber operated in the year 1889.
In addition to the aforementioned lines of railroad, the Company operates also a line of ocean steamships between NewYork and New Orleans, New York and Galveston, New Orleans and Havana, via Tampa and Key West, Fla.; New Orleans
and Bluefields, Nicaragua New Orleans and Bocas del Torro, Costa Rica Morgan City and Vera Cruz, and Galveston and
Brazos Santiago, Tex.; "also several lines of inland river steamers, ferries and transfers, agsjregating 7,276 miles of water
lines.
For the details of these steamer lines and the various divisions of tlie railroad lines you are referred to table No. 1, and
for the floating equipment emoloyed in the ocean, river and ferry service, their character and capacity, to table No. 33,
accompanying the report of the Secretary and Controller.
;
;
GENERAIi OPERATIONS.
sources, operating and other expenses of the above-named railroad
and steamship lines are, in the following statement, treated as a whole, irrespective of any division of profits or losses which
may inure to or become a charge against the Southern Pacitic Company.
The transportation earnings,
RF.CEIITS
receipts
Aim DISBCRSEMENTB.
Average miles of rpad opejftted.
from other
Paeiflc System. Atlantic System.
4,311-10
1
l,74i-36
Total 1890.
Total 1S89.
Iticrease.
6,053-46
5,990-47
62-99
Decrease.
Gross earnings
Barroads and ferries
Steamship lines
$34,865,262 12 $10,580,247 03 $45,445,509 15
2,775.330 41
2,775,330 41
131,664 25
131,664 25
$43,582,1 07 43
2,761,100 43
124,7.54 98
$1,863,401 7i
14,229 98
6,909 27
Operating expenses
$34,865,262 12 $13,487,241 69! S48,352,S03 8li $46,467,962 84
9,171,737 43| 31,155,102 62
21,983,365 19,
30,406,42/22
$1,884.540 97
748,675 40
Earnings over operating expenses
Trackage and otlier rentals
$12,881,896 93
448,450 25
$4,315,504 26 $17,197,401 lo' $16,061,535 62
61,156 28
521,952 30
509,606 53
$1,135,865 57
$13,330,347 18
$4,376,060 54 $17,707,007 72^ S(16 583 487 92I
fil
.'..'.'..
Transportatlonlines In Louisiana and Texas
Total transportation earnings
Total
Deduct for payments ebargeable
from operations, viz
to
Taxes.
Betterments and additions
Interest oil bonded debt
Interest on floating debt.
Rental aiifornia Pacific Kit
Trackage and other rentals
Total payments
Balance
Income
1
$1,008,747 00
265,623 63
-
.
...
$12,345 77
l€e!)Kiafln
$225,551 43
8 312 201.531
1.947.618 27
125,612 64
189,409 25
2,2.59,701 29
606.000 OO
88,123 95
$12,729,808 04^
I1I60O.53S .54
$1,234,298 43
265.625 63
10,259,819 79
3I,->,021 89l
29
606.000 00
388,827 31
2,2.59,701
306,703 36
$1,218,360 04
436,508 59
10,472, t-Oi 25
445,137 50
1,770,791 85
600,000 00
293,450 7
1
$15,938 39
$170,882 99
213,072 46
130,115 61
488,900 44
6.000 00
95,376 61
$2,599,485 70 815,329,294 31
$15,237,140
9:
$92,153 41
*2.377.713 38
8<1..<»46.346
9'.
«l,03I,Sfl6 39
$1,777.174 84'
In addition to the above expenditures there was advanced) for betterments and additions for the benefit and account of
the proprietary lines, the sum of 11.354,864 06, and |;iU.90J 23 for the oenefit and account of the leased lines, a total of
*1,66«,771 33, against a total of !|3,017,635 29. advanced iu 1889 for aimilar account. Including, for the purpose ot comparisoa
:
:
.
\
.
THE CHRONICLK
720
[
Vol. LIl.
year, the gross receipts exceeded the disbursemennts of every character by
these advances in the total outlay for the
943 06 against a deficit of $671,278 30 in 1889.
S710
contrasted
The resulte for the year are certainly quite gratifying when fell in the with the conditions which prevailed on the Pacific
mountain district east of Sacramento, suspending
snow
System during the earlier months of the year. Hearv
the northern part of the State deep snow fell which closed the Oregon Division
traflic for eighteen days in January, and in
heavy rains caused extensive washouts and landslides, suspending
from January 15th to March 2d. On the system in Oregon
January 15th to March 25th. In Southern California exception^
throuKh traffic between Portland and Sacramento from
and other places, which interrupted the traffic for a considerable period.
rainfalls caused great damage in the Soledad Canyon
through traflac, and necessitated heavy expenditures to repair the
These protracted interruptions caused a large diversion of
*
damages caused by the rain and snow falls.
Of the 81 884 510 97 increase in gross transportation earnings, $936,776 38, or 2-74 per cent, was on the Pacific System,
37 on the transportation lines in Louisiana and Texas.
The
$940 855 32 or 7-54 per cent, on the Atlantic system, and $6,909
changes in Volume of traflSc, etc., affecting these results are explained under the sections referring to freight and passenger
Of the $748 675 40 increase in operating expenses, $359,744 78, or 1-66 per cent, was on the Pacific System, $363,058 42, or
4-17 per cent on' the Atlantic System, and $26,872 30 on the transportation lines in Louisiana and Texas. The details affecting
of " Operating Expenses."
these accoimts will be more fully explained under the heading
The increase and decrease in payments chargeable to income from operations are explained by the title of their items.
The increase of $488,909 44 in the amoimts payable to the Central Pacific R. R. arises mainly from a credit in 1889 of
$379 883 55 in an adjustment of the railroad sinking-fund surplu.s, and which was applied as a reduction of the charges for
that year. There was an increase in 1890 of $65,707 78 in the United States Thurman Act requirements and of $43,589 58 in
eKpenses which were in past years charged to operating expenses.
FREIGHT EA.ENING8 AND TONNAGE.
freight earnings on the railroads, ferries
Texas, have been as followg
The
Froni-
\
FaH/le System
\
$20,172,557 56,
891,951 25
Kailroada and ferries.
Company freight: Ballroads and ferries.
Steamsliip lines
Commercial
and steamships, excepting those on the transportation
Ireiglit:
.
Atlantic System.]
Total 1890.
Total 1889.
$8,036,204 21, $28,208,761 77
205,506 99,
1,097,458 24
2,716,41120
2,716,41120
$21,064,508 81' $10,958,122 40 $32,022,631 21
19,754,424 891 10,172,719 67i 29,927,144 56
Total 1890.
Total 1889.
$1,310,083 92
Increase
$785,402 73
lines in Louisiana
Increase.
26,104,485 73 $2,104,276 04
1,1 15,045 92
2,707,612 91
8,798 29
and
Decrease,
1
$17,587 68
$29,927,144 56 $2,095,486 65
$2,095.486 65
Pacific System there has been an increase in earnings from commercial freight of $1,334,950 15, or 7-03 per cent,
with an increase of 11-37 per cent in tonnage and on the Atlantic System $779,325 89, or 10-74 per cent, with an increase of
12-46 p.c. in tonnage: making a total increase of $2,104,276 04,or8-06per cent, with an increase of 11-66 percent in tonnage. Of
the decrease of $17,587 68 in earnings from Company freight, $14,866 23 has occurred on the Pacific System and $3,731 45 on
The slight increase in earnings of the steamship lines is attributaHe to large reductions in rates during
•fhe Atlantic System.
July and August from Atlantic seaboard cities to common points in Texas, and $38,663 89 decrease in gross earnings of the
(^ On the
;
Nicaragua and Vera Cruz
lines.
A considerable part of
the increase in earnings from commercial freight is due to the devrfopment of the fruit industries
in California and Oregon. The failure of the fruit crop in the Eastern States enabled the fruit-growers in California to sell
While the conditions for marketing
their products at high prices and this brought a great deal of money into the State.
California fruit in 1890 were unusually favorable, there seems to be no lack of confidence among the fruit-growers in respect
to the future marketing of aU that can be produced, and that the production will increase with the demand. In all parts of
the State the number of trees planted this year has been unusually large, and has only been limited by the capacity of the
nurserymen to furnish stock. In addition to fruit, California sends to the Eastern States, beans, borax, wine and brandy,
hides, pelts and leather, honey, lumber, nuts and vegetables, canned salmon, woodti of value, and wool. Every one of these
items shows a considerable increase in tonnage over the year 1889, except wine, which, owing to exceediugly low rates
charged by clipper ships,Jand some advantage, presumed to be the aging of the goods, while in transit, has been handled in the
main by water routes. On the lines in Oregon the increase in freight earnings amounted to about $112,643 85, the principal
freight over these lines is still small, but shows a large increase over the preceding year,
Eart of which is local. The through
a the local tonnage there has been an increase on the main line of about 30 per cent, and on the west side of aboat 15 per
cent, arising from the natural erowth of the country and tke unusually long period of low water in the Willametoe River.
In the State of Nevada the exceptionally severe winter and unprecedented deep snows in the winter of 1889-1890 caused a
loss of cattle throughout the State estimated from 70 to 80 per cent and this materially reduced the earnings of your line in
that State. It being the chief source of beef supply for San Francisco and Central California, the effect of this severe winter
reduced shipments to this State fully 45 jier cent.
On the Atlantic System there has been an increase in east-bound through shipments of $364,773 19, or 35-33 per cent, and
considerable part of this increase
in west-bound through shipments of $408,445 04, or 16-81 per cent, over last year.
was from California fruits and products, but there were large local increases of sugar, molasses, rice, cattle and lumber.
The increase in the rice crop was about 65 per cent and the planters along the line of the Louisiana We.stem, where the
shipments in 1890 amounted to 81,389,784 pounds, against 16,004,630 pounds in 1889, and 7,078,683 pounds in 1888, are planting
an increased acreage, and predict a larger crop for 1891. There has been a decrease in the shipments of ore from Mexico, due
to a ruling of the Secretary of the Treasury which prohibits the passing of ore through border custom-houses in bond, and
which requires special appraisement at the border. This ruling deprives us of the large shipments of ore which we formerly
controlled via Eagle Pass.
The movement of commercial toimage over the raUroais and ferries, excepting that carried on steamships and transpor
tation lines in Louisiana and Texas, has been as follows:
;
;
A
;
_i
Pacific System.
Ton
miles
HP
1,982,752
661,147.396'
333-45
207 53
Of the above tonnage
1
1-845
Average receipts per ton mile
1,550,055 tons
Total 1890.
Atlantic System.
5,266,576
1,092,991,890
1-215'
Total 1889.
Increase.
7,249,328
1,754,139,286
241-97
1-608
6,492,023
1,491,785,548
229-78
1-749
757,305
262,353,738
12-19
tU
•141
were through
freight, an increase of 22-39 per cent ; and 5,699,373 tons were local
addition to the above tonnage there was carried 1,455,946 tons of fuel and
an increase of 9-08 per cent over 1889. In
other material for Company's use, aggregating 245,441,875 ton miles, and on which
•447 cents per ton mile.
freight,
"
Decrease.'
was charged an average
rate of freight of
PA88KNGEB EARNINGS AND TRAVEL.
The passenger earnings on the
and Texas, have been
Steamships
IE Total 1800
Total 1889
fli
lines in Louisiana
as follows
From—
Througli passengers
Local paseengers.....
and steamships, excepting those on the transportation
railroads, ferries
Famftc System.
i
.
.-.
Total 1889.
$3,115,438 73
8,985,529 20
58,919 21
$3,397,931 06
9,077,493 31
53,487 52
$1,668,71930 $12,159,887 14
1,59.1,824 17
12,528 911 89
$12,528,911 89
$539,896 80
I
1
Totoi 1890.
Atlantic Systfrn.
$2,575,541 93
7,915,625 91
$10,491,167 84!
10,938,087 72:
1,060,903 29
58,919 21
Increase.
Decrease.
$282,492 33
91,964 11
$5,431 69
$369,024 75
rr~
Increase
Decrease
$446,919 88'
$77,895 13
$369,024 75
The decrease in the above earnings is entirely attributable to the interruptions on the Pacific System from the washouts
and snow blockades already referred to. The local earnings during the firet six months of the year, in which these interruptions occurred, decreased about $387,000 against the same period In 1889
but there was an increase in the second half of the
yearjof aV>outI$188,()00, leaving i»|net loss of only $148,963 78. The earnings from through passengers decreased $397,957 15, the
•^r
;
:
MAT
;
9,
THE CHRONICLE
1891.]
721
attributable to tho same causes; but the severe winter on tlio Paciflo Coaat, in conjunction with the
States, operated aloo to materially reduce the UHual tourist travel to the Pacific Coast.
The movement of paseenKera over the railroads and fcrriea, excepting those carried on the steamships aad by the transportation lines in Louisiana and Texas, has been as follows
l?reat<>r
part of which
mihl wint<>r
in tlio
is
Knatem
AUanHe ByiUm.
Paei/t* 8y$lem.
Total 1890.
Total 1889.
tnerea»e.
Ptcnatt.
5,S22.113
11,034.170
821,048
4,889
6,343,161
11,039.069
6,291,822
10,400,020
16,550,283
825,937
17,382,220
16,761,448
487,904,738
20-47
2-150
67,297,433
81-18
2-302
666,202,171
571,337,028
34-08
41
»1s
•70
620,772
Ferry— aurbiirhan passengora carried
Total
Average miles trsvelert by each passenger....
AveraKe receipts per passenger per mile
f.OL
51,389
669,483 ;::..::::::::;
8104
16,184,887
2-14
•004
2183
2-179
S-89
6-28
-18
There were carried during the year 217.891 through passengers, a decrease of 5-77 i>er cent, and fl,13J),770 local passengers;
an increase of 1-06 per cent. On the Pacific System there was a decrease of 19,773 through passengers, or 11-30 per cent, and
of 21,939 local passengers, or -41 per cent. On the Atlantic System there was an increase of 6,450 through passengers, or 11-58
per cent, and of 86.600 local passengers, or 12-88 per cent. The small average miles traveled per passenger on the Pacific System is due to the large ferry-suburban travel, which averages only 9-51 miles per passenger eliminating this travel, the average miles traveled per passenger on the Pacific System would be 69-35 miles.
OPERATIN(} EXPENSES.
;
The operating expenses of the
railroads, ferries, steamships
and transportation
lines in Louisiana
and Texas have been as
follows
!i
fv»^-
Pacific Syttem.
Haintenance of way and struoturei
Maintcnnnco ot equipment
ConduotinK transportation
General expenses
Steamships
Transportation Unas In Louisiana ATexas.
Oregonian Railroad
$5,720,789
2,m68.172
11,317,980
2,069,276
64
97
64
09
r,146 85
$21,983,365 19
Total.
$1,H42.586 39
972,193 39
3,633.762 69
502,.594 18
2,001.067 11
128,933 67
S9,171,737 43
Total 18 SO.
Total 1800.
Atlantic Sytlem.\
$7,563.376 03
3,840,366 36
14.951,743 33
2,661.8H9 27j
2,001,66711
128,933 671
7,146 85
$31.155,102 62
;
$0,799,369
3,792.483
14,659,171
2,950,387
2,102,954
102,061
Inereate,
Oeertat.
p.ot.
$764,006 65|
11-23
47,882 74'
1-23
15 292,572 18
1-99
31
$28S,518 04 9-78
29
101,287 18 4-81
47
26,872 20
26-33
7,146 85
38l
62.
$30,406,427 22 $748,675 40
2-4A
The operating expenses of the railroads and ferries of the Pacific System have absorbed 63-05 per cent, and those of the
Atlantic System 66-51 per cent of the gross earnings, the average for both systems being 63-86 per cent, as against 64-71 per
cent in 1889. The steamship lines have been operated for 72-13 per cent of their gross earnings.
BETPEKMENTS AND ADDITIONS.
There has been expended during the year for betterments and additions the sum of $1,932,396 95, of which $1,666,771 32
has been charged to the proprietary and leased lines, being for betterments and additions for their benefit and account and
the balance, $265,625 63, has been charged to the income account of the Southern Pacific Company.
;
FINANCIAL.
In the following statements will be briefly reviewed the distribution of the year's results, the profits which inure to or
losses which are a charge against the income account of the Southern Pacific Co. the assets and liabilities of the Southern Pacific
Company, and a summary of the asset< and liabilities of its proprietary lines, the details of which are more fully shown in
the tables accompanying the report of the Secretary and Controller in respect thereto.
The net results of the year's operations are distributed as follows
,
:
to foUowlns; propriet.iry companies embr.icea in Omnibus lease for net profits remaining after payment of operating
expenses, taxes, fixed and other charges under lease: 8. P. RR. of California, 8. P. RK. of Arizona, S. P. RR. of New Mexico,
Morgan's La. & Texas RR. & 88. Co., Louisiana Western RR. Co and transportation lines in Louisiana and Texas
$2,213,998
Due to following proprietary companies for earnings remaining after paym'tnt of operating expenses, taxes and fixed
Due
charges,
24
viz.:
Northern Railway Co
Roads in Texas, viz.: T.
& N.
O. RR. Co., G. H.
& 8.
A. Ry. Co., G. W. T.
& P.
By. Co. and N. Y. T.
& M.
$485,029 76
146.571 87
Ry. Co.
632,201 68
18,704 12
245,999 81
South Pacific Coast Railway, net proflfs from operations
Southern Pacific Co., ten per cent of net profits under Omnibus lease
Making a total distribution between the various interests of
Net income from oi)eratlons. Pacific System
Net Income from operations. Atlantic System
Due from Oregon & California KR. foraooount
$3,110,903 80
$6'>0,538 54
1,777.174 84
$2,377,713 38
259,429 71
of operations in 1890
2,637,143 09
Balance
$473,760 7
profits accruing to Southern Pacific Company, included in the
Profits under Omnibus lease
South Pacific Coast By., net profits from operation
Deduct for
above distribution,
viz.:
$245,909 81
18,704 12
264,703 93
Balance
$209,056 78
The actual results of the year's operations, as shown above, hM been to practically increase the assets of the proprietary
companies in the sum of $3,846, 199 87, which sum inures almost entirely to the Southern Pacific Company as the principiU owner
of the stock of said proprietary companies, and against this sum the above balance of $209,056 78 would become a charge in
general accounting with the several interests.
INCOME ACCOUNT SOUTHERN PACIFIC COMPANY, DECEMBER
DISBDRSEMENTS
31, 1890.
BECEiprg
Loss in operation of—
Central Pacific Railroad
California PaciHc Railroad
Northern California Railway
Oregonlan Railroad
Marysville steamers
Balance to credit of general account
Balance from last year
$2,274,312 44
Profit from omnibus lease.
245,999 81
Profit from 8o. Pao. Coast Ry. operations
18,704 12
Dividends on stock owned
1,760 00
Rentals from real estate
2,400 00
Adjustment ot aocount« appertaining to operations In
former years
337,844 97
$360,777 25
102.026 83
1,501 03
1,824 09
7,03151
2,407,260 63
$2,881,021 34
Total
$2,831,02134
Total
ASSETS AND LIABILITIES SOUTHERN PACIFIC COMPANY DECEMBEB
31, 1890.
LliLBIUTIES.
Assets.
Stocks in proprietary companies
Stocks and bonds In other companies
Keal estate and otlier property
$114,809,357 33
$1,913,457 67
120,346 93
'
BUIh payable
Vouchers and pay-rolls
Sundry Individuals and companies
Leased companies
Accrued interest to Dec. 31, due in 1891.
Coupons maturing .Ian. 1, 1891
Coniions due luid unpaid
Unadjusted accounts
2,033,80460
Cash
$653.446 40
Agents and conductors
1,10^.090 74
U 8. Government mail and transportlon 2,303,357 64
Sundry individuals and companies
2,9H8,:U0 70
Proprietary oorapanies
3,089.843 5*5
Advadci'S for ucw construction
942,025 13
Unadjusted accounts
063,276 44
Stock of supplies for current operations. 5,25.8,837 00
;
17,392,126 70
Capital stock
I
Insurance fund
Renewal funds
Babmoe from income aoooont
il'
Total
$134,236,288 63
Total.
$116,074.890 00
$400.896 44
4.420,373 42
1,406,01570
8,840,252 01
1,074,192 16
2.351,272 04
105.966 56
1,308,883 63
875.459 39
669.926 65
15.763,138 00
2,407,360 63
$134,236,288 63
^^^^ CHRONICLE.
^T22
[vol, ui.
An increase in the capital stock of $4,190,850, which wag
from 1839 are
Texas Railroad & Steamjhip Company, an increase of $19,532 26 in stocks,
acquired in Morgan's Louisiana
Bsued for stock
of supplies on hand, and a decrease of $849,870 50 in liabilities, the
bonds and other property, a decrease of 733,430 57 in stock
the year bsing an increase of $133,948 19 ia assets over liabilities and capital stock.
results for
The cost of road, assets and liabilities of the several proprietary companies, of whose stock this Company is the principal
owner, is represented on December 31, 1890, by the following sums:
"
The
principal changes ia the above statemsnt
:
&
COST OF ROAD, ASSETS AND LliBILITIES OF FROPEIETARY COMPANIES.
Liabilities.
A BBRnrg
'...
Cost of road and franchises,
Betterments and additions smce acciuisitlon
State of Texan subsidy lands
Other lands In Stiuo of Texas
Stockslu proiTietiirv companies
Btocks In other companies
Land
*^Tn'§m'!I?
10,^0l,4bi
Mortgage bonds
Stale of Texas school debt
M
^^b
$115,185,216 08
532,951 70
Capital ftock
o3
;;-?'qot ««
T?A'YAn„n
^',,1^k'in,
151,-10:1,827
Land Trustees
10';
qi/^iqoKs
contracts
:v:.:v^:^::v:^::::"::
BUlsrccclvable'.".''.'.'.'
Soutbem Pacilic Company
Southern development Company
^'"coifisol
Unpaid coupons
Blukingfunds
Propi-ietarj companies
Individuals and companies
Unadjusted accounts
,643
3,0(-9,843
Interest accrued on coupons maturing In 1891
Unadjusted accounts
Balance from income account
i'Qfi7'QQo?i
'
Qs'htI 77
2 oiAna
OO
383,184 03
Sinking funds uninvested
65
56
433,785 41
58,742 17
343,702 50
384,rtl5
98
24,582,214 51
a
oSJi-i^oo
^^b,i,a
$296,486,026 59
-Total
Of the above $151,403,837 00
J
capital stock, the Southern PaoiSc
Total
$296,486,026
Company owns
$147,743,950 00.
and
$1 ,419,800 00 is
SO'
owned
the proprietary companies. The details of the amount owned of each company, and the character of their assets and
are si own on tables Nos. 2, 4 and 6 in the report of the Secretary and Controller, and in the financial statements of
said companies published in this report.
Comparing the totals with those for the year 1839, there has been an increase in assets of $5,596,073 93, of which $3,703, 076 87 was in cost of road and franchises, $1,334,834 07 in expenditures for betterments aud additions, $364,450 91 in sinking
In liabilities there is an increase of $3,176,587 05, of which $856,537 05 is in funded
Tinds, and $1,174,685 11 in other assets.
bv
liabilities,
debt and $1,338,000 00 in capital stock, leaving an increase in assets over liabilities of $3,419,489 90 for the year.
The lease of July 1, 1887, with the Oregon & California Railroad Company, has been modified during the year so as t»
conform more to the general tenor of the company's other leases and arrangements in respect to the operation of its several
properties. Under this modification the lessor agrees to pay any deficits which may accrue in the operation of the road, and
The operations of the road
all expenditures for betterments and additions made for its benefit and account by the lessee.
since July 1, 1887, have been adjusted between the lessee and lessor on this basis.
CONCLUSION.
and buildings of the several properties have been maintained in standard condition, and al^
The
renewals have been made of permanent and substantial character. On the Pacific System this policy has prevailed at all
times; but on the roads comprising the Atlantic System, west of the Morgan's Louisiana & Texas R. R., large expenditures
have been made since their acquisition in 18S5 to bring them up to their present excellent condition. Nearly 600 miles of
light steel rails have been taken up, wooden bridges have been replaced with substantial, all-iron structures, timber-bridge
foundations have been replaced with permanent stone, brick or concrete piers, and creosoted timber has been largely used in
renewal of timljer trestles, which materially increases their service and all future renewals will be made with timber thu*
Large sums of money have been expended in raising the roadbed above the contingencies of high-water
treated.
roadbed, track, bridges
;
©verflowB.
The expenditures
for these accounts
on the Galveston Harrisburg
&
San Antonio Railway have
Ijeen exceptionally large,
particularly in the years 1888, 1889 and 1890, and they have materially increased the operating expenses of the road during
those years. During the year 1890 there were put in the track 337,195 cross-ties, or 85 per cent of the total number in track.
this number 313,677 were " bumetized." In renewal of timber trestles there were used 856,508 feet board measure of
larg« number of timber culverts and openings have been replaced
creosoted limber and 69,733 lineal feet of creosoted piles.
with permanent culverts. The physical condition of the roadbed has been so greatly improved that locomotives of much
Of
A
greater weight and capacity can now be run over it than formerly, and there has been purchased for account of thii property
for delivery during the summer of 1891 thirteen heavy freight locomotives weighing about 63 tons eacli, which will enable it
to transfer to the lower-grade roads east of Houston 31 of its lighter locomotives.
The tolling stock on the Atlantic System has also been brought up to a high standard of efficiency and is to-day in excel-
On
the Pacific System, however, the light weight and capacity of the rolling stock belonging to the Central
and other roads which were acquired in its earlier leases and purchases, is causing considerable disadvantage
in operation. Of the 343 locomotives belonging to the Central Pacific Railroad, 107, or 44 per cent, have cylinders 16 inches
and UDdt.r in diameter and of the 4,330 freight cars, 3,537 or 80 per cent, are 15-ton capacity, whereas 35 and 30 ton capacity
*re now the company's standard.
There have been destroyed since the year 1885, when this company commenced to operate these properties, a considerable
number of cars belonging to the various companies, the greater part of which were then quite old and of light capactiy. Of
this number only a part has been replaced, but arrangements will be made to replace the remainder, about 1,150 cars, during
the year 1891. Their cost, estimated to be $569,936 65, and representing cars of standard capacity, has been charged up, and
this sum is included in the " Renewal Fund " shown under the company's liabilities.
The generally good and profitable crops in 1890 and the constant accession to the population from the Eastern States have
added largely to the material prosperity of the Pacific Coast. There has been a steady development in the country tributary
to the lines of the Atlantic System. New industries are springing up on tlie older lines and each year has marked a steady
progress in bringing under cultivation the lands along the Galveston Harrisburg & San Antonio Railway, considerable portlotis of which were formerly thought of little if any value for agriculture.
These facts warrant us in the expectation of a
"" "
"
profitable business for the year 1891.
lent condition.
Pacific Railroad,
;
;
'
While the
have been too low, the company has not ceased its efforts to improve the physical
condition of its properties and the character of accommodations to the public. It is gratifying to note that the public is at
last beginning to understand the fact that the rates of transportation are too low, and that the evils which result therefrom,
regardless of their cause, reflect as disastrously upon the communities traversed by the railroad lines, and the various commercial industries which have been mainly created by them, as upon the railroads themselves and the conviction is gaining
ground that it is essential that the railroads should receive such fair and reasonable rates of transportation as will enable
tham to maintain their properties in a high state of efficiency and safety to the public, and leave a fair rate of interest upon
rates of transportation
;
the capital invested.
The Board desires to acknowledge its indebtedness to the officers and employes of the company
of the year, which are due to the faithful, and eflicient discharge of the duties entrusted to them.
(.) rti !,..(»-.
—
....
,...i»hi»r(V
,,
'ii
.
',
,v
for the satisfactory result*
i
Respectfully,
0, P.
HUNriNGTON,
President,
:
May
0, 1891.
THE
J
LIMITED.
KI.ETESTH ANNUAL REPORT-FOR T«E TEAR ENDING DE31. 13U0.
DIRECTORS AND OFFICERS.
StRECTORS.
OUror Ameo.
E. Rollins Morse, of Boston.
Willluui Rotob. of BuAton.
.Toseph RIehiinlaoii. of New Yoilt.
Warren Hawj cr, of liostou.
Aldtwi .Si>earo, uf Boi^tou.
Rub't K. Uynion. of London, Enfc.
OeorKo B. Wilbur, of Boston.
Joiepli H. White, of Boston.
Edwitrd il. Whorf, of Mexico.
Levi C. Wade, of Boston.
of Bo«t«a.
Miguel Auzn. of Mexico.
Isano T. Burr, of Boston.
Felliw n. Berrlozabel.of Vfoxlco.
H«b»4tiiin C'ltinarho. of Mexico.
Krtiniiuil W. Comcrso. of Boston.
Jnci)l> Kilwnrda. of Bi>»toii.
Edwnnl W. .liicknon, of MbiIco.
I^yl Z. Ix'tter, of Chiougo.
*
FINANCE COMMITTEE.
'
Warron Sawyer, Cliainnan.
Jacob Edwards.
Isaac T. Burr.
E. Rollins Morse.
*
Levi C. Wade.
OFFICERS.
Levi C. W.ide, Trpaldent
Robert R. Symon, Vico-Prosldcnt
H. W. Rpynol Is, Clerk and Treasurer
J. T. Htirmor, General And! tor
Boston
London, Eiik.
Bosion
Boston
City of Mexico
E. W. .iHckson. (iener.tl Manaxer
City of Mexico
Edward H. Whorf, Assistant Manager
City of Mexico
Chas. A. Brow.e. Assistant Treasurer
City of Mexico
W. A. Frost. Auditor
MU^bnells. Oeneral Freight and Passenger Agent.. City of Mexico
A. C.
City of Mexico
M. do ZiiUiK'ina 6 Ynclan. Assistant Clerk
H. W. Reynolds, Transfer Agent
Boston
Hanover National Bank, Transfer Agent
New York
*
•
Died March 21, 1891.
Boston, April
:
CHRONICI^E.
MEXICAN CENTRAL RAILWAY COMPANY,
CEMBER
:
there has boon an increase in depth in the centre of 'ho channel of from live to seven feet.
A twcnty-f<x>t channel could
without doubt be carried 3,r)0() feet from the old shore line.
This whole work is being pushed as rapidly as possible, and
the opinion given hy our engineers is, that beyona any reasonable doubt we shall be able to obtain the results which we
fxpectcd when the work was undertaken. The method pursued in constructing the jetties thus far hos been to push the
work most vigorously, so as to secure their completion as early
as poBsiblo, rather than to attempt to at once make any permanent showing of depth of water on the bar. For that reason the work on the North jetty has been pushed much faiter
than on the South, and the inequality of their length has beien
such that the sand on the bar does not feel the full effect of
the current in the river, although the water on the bar between the ends of the jetties has materially deepenerl, our last
reports showing twelve feet. But as the end of the .South
jetty approaches more closely to that of the North jetty, this
condition will be changed and the depth of water will rapidly
increase over the bar. By reason of our pursuing this method
we have been unable to do much thus far toward bringing business into the port of Tampico, but toward the latter part of this
year the water should be deep enough upon the bar to admit
vessels of con.siderable draft of water, and we. then expect
business will begin to turn toward Tampico and that our
Tampico line will feel the effects of the development of this
imf ortant part of our enterprise.
The present completed mileage of the company is as follows:
River.
From reports made by Mr. E. L. Corthell, the Chief Engineer of the Tampico Harbor Company, the following points
are gathered:
IfOn:
1,221-10
e-Sa
11-34
160'99
16-60
City of Mexico to El Paso
Stone Quarry Branch
(iuannjuato Branch
GuadaliOiira Division
HanBI
...,,
H Division
San Luis Division
Chicolote to San Luis Potosi
Tampico Division
Ban Luis Potosi to Tampico
Bar Extension
Tampico to La Barra
13C'70
275'82
5'90
Total
To the Stockhotdcrs
and Tampico in improving its condition. The principal construction work of the year has been done by the Tampico
Harbor Company upon the jetties at the mouth of the Panuco
and 3,600 feet from the shore end of the north
They show that between May, 1H90, and March, I89I,
1,800,8,400
jetty.
23, 1891.
oftlie Mexican Central Railway Company, Limited,
Since the last Annual Report we have constructed little new
road, the only piece being a short extension of the Tampico
Division, from Tampictfto La Barra, or the bar at the mouth
of the Panuco River, 5'90 miles long. Much work, however,
has been dome on the Tampico line between San Luis Potosi
723
1,83201
No part of
for
the Tampico Division had been put into operation
income account in 1890, consequently the mileage oper-
ated during 1890 was ihe same as that for the last half of 1S89.
The entire property is in good condition. The tie renewals
for the year were 342,367, making a total renewed from 1883
to 1890 inclusive of 2,188,090.
Hon. Oliver Ames, one of the Directors of the Company,
has lately made a visit to Mexico and been over the main line
and Gua lalajara Division, and he reports that he found the
road and equipment in excellent condition and business looking well.
EARNINGS AND EXPENSES.
and expenses for 1890, as compared with 1889,
were as follows, in Mexican currency
Tlie earnings
:
The City of Tampico
mouth of which the
is
situated
on the River Panuco,
at the
jetties are being built.
In the river
within the shore line, the channel is maintained for the
whole distance from the City of Tampico to its mouth, with
an average central depth of 35 feet and a 20-foot channel 800 feet wide. This depth and width made by the river
is maintained by it entirely by the concentration of the floods
and the conservation of its forces by the banks that confine
them, to the width of about 1,300 feet. There is no question
about the power of the river to make and maintain a channel
of equal depth and width seaward from the present shore line,
if the banks are extended into the Gulf at no greater distance
apart than are within the shore line. It is to accomplish this
that the jetties are being built.
The jetties are parallel to each other about 1.000 feet apart,
the effective width between them being about 900 feet. They
are projecte 1 straight out into the sea in the normal direction
of the rivers outflow, and at right angles to the gulf currents.
Both jetties are to be carried to the same distance in the Gulf,
so as to present an even shore to the sweep of the Gulf currents.
Tiiis distance is a little less than 7,000 feet.
On the 3d of April the trestle work, built like an ordinary
double-track railway trestle, was 4,680 feet from the shore on
the north jetty, and the mattress work brought to the surface
of the water was 4.440 feet; on the south jetty, on the same
date, the trestle work was 3,270 feet from the shore and the
mattre.ss work 3,090 feet.
The results of the work
respect
to the development of the channel have been entirely satisfactory. The channel has advanced seaward as the jetties
have been carried forward. The location of the channel U
where it is desired it should be, about midway between the
jetties.
The shore ends of the jetties are already being protected by deposits of sand made by the waves. These deposits
are constantly being extended, and are expected ultimately to
continue quite a long distance out from the shore in the
nature of a beach, tjhus making an effectual barrier against
the working of he waves.
Accompanying this report is a sketch of the lower part of
the Panuco River, which shows the progress thus far made in
the work; also a comparative cross section of the channel made
at the time of the last survey on March Uth, at points 1,000,
itself,
m
i
COMPABISOX OF EARNINOS AND EXPENSES, 1890 AHD 1889.
1890.
rnereaM'
1889.
Gross earnings
$6,425,694 08
$6,337.225 38
$88.469 70
Oi>erating expenses
4,001,170 47
3,511,826 58
489,343 89
Net earnings
$2,825,39880 '$400,87519
$2,424,52361
'Decrease
It will be noted that while the loss in net earnings was
$400,875 19 in Mexican currency, this was reduced by reason
of the increase in value of silver during the year to $117,899 81
in United States currency.
DETAILS OF OBOSS EARNINGS.
Olaftifleation—
1890.
Freight
$4,702.14248
Passenger
1,436,31768
Extra baggage...
27,8(i7 90
Expre-s
144,21118
Telegraph
45,069 28
Miscellaneous...
70,085 56
DeereMtO
Increate.
1889.
$4,683.290 74 $18.85171
1,420,375 76
15,94192
29.364 76
$1,496
118.797 37
25.41381
35.753 64
0,315 64
49,643 11
20,44 J 45
•
8ff
Totals
$6,425,694 03 $6,337,225 38 $88,46^70
Included in the above figures for freight are earnings cm
Construction Material as follows:
$303,019 86
1890
475,15153
1889
The percentages of International and Local Business to the
entire Gross Earnings were as follows:
^International.—^
1890.
1839.
30-9
TnclnaingConstructlonFrelght ... 27-6
ExcludlugConstrno.ioo Freight... 24-3
Condensed and
classified
25-4
Local.
.
1890.
72-4
75-8
<
1889.
69-1
74-6
statement of Expenses showing
relation to Gross Earnings.
^P.
Amounts.
,
Maintenance of Way..
Motive Power
Mnintenanoo of Cars..
Conducfg Transport'n
General Expenses
$795,353 01
l,68'i,'J31
-.i7
209.491 35
039,01 1 51
28 ,483 30
1
.
1889.
\9W>.
$8o8.0:?3 02
1,401. <97 01
2-i8,45l 35
798.009 37
225,934 93
el.
of aro*»->
Eamingt,
1890.
1238
26-24
4-66
14-61
4-38
1889.
13-55
22'11
s-eo
12-M
3-57
5S-4a
6«-27
$4,001,170 47 $3,511.826 58
STA-riBTICS OF EARN1KG8 AMU EXFESSES.
Taereat, Detrtom
1889.
1890.
05-33
1,461 85
Average miles road operated.. 1.5i7 20
.„.._
$127 87
$l,^07.50 $-l,3S.'-> 07 _
(Jross earnings per mile
2.402 32 $217 82
Operating exponses per mile.. 2,61904
34ft 1ft
I,5'i7 56
1,932 75
Net earnings per mile
Totals
THE CHRONICLK
724
EQUIPMENT.
on December 81 was
The equipment
Looomotivesr—
4wlieel
6 "
"
8
10 "
Bogie
Mogul
—
Consolidation
Compound
7
First class
Second class
Third class
Combination
Baggage, mail & exp..
Special
OfBoers'
Pay
as follows:
223
,^"
149
692
"^
Stock
Wood
1
Coal
Flat
6
Wade:
Whereas,
1.487
Box
2
Cahoose
1
2,650
Total freight cars
137
Total locomotives
Paeeetiger f ars—
tion in a very able manner, and his services on behalf of the
Company and his value to it cannot well be estimated.
Tlie Directors of the Company have passed the following
resolutions, showing their appreciation and esteem for Mr.
Carried forward..
Freight Cars-
52
51
17
22
20
31
Total passenger care
At
J
ol
80
2,852
122
FINANCIAL CONDITION.
the year 1890,
The Company's Income from all sources in
follows, in United States curavailable forhiterest, was as
rency, namely:
»^„™i«<,Q
$1,978,15669
60t.l|6«4
i/,»ojbo
•VT
?Nlt^8lI^sfdfto;juiy-1.189a.
Mifcellaneous Interest
$2,597,235 98
2,101,456 27
Paid Taxes, Premium, Interest, etc
*95'779 71
surplus
"The amount of subsidy given above
Tune 30 the date upon which the
1 to
is
the
Company and his worth as a man.
commencement of the building of the Mexican Cen-
Railroad in 1880, Mr. Wade was its Attorney and in that
position he displayed remarkable skill and sagacity.
In 1884, upon the retirement of Thomas Nickerson from the
presidency, Mr. Wade was elected to fill the vacancy. He
assumed the position under circumstances discom-aging and
disheartening. The railroad was not earning the interest on
The company was heavily in debt,
its first mortgage bonds.
and its credit was gone. Mr. Wade, as its President, threw
himself with all his power and energy into the reorganization
Upon this he worked incessantly and sucof the securities.
ceeded in reorganizing the whole bonded debt. He built the
Guadalajara branch, he finished the Tampico branch, and he
had completed his plans for the improvement of Tampico harAnd still more, he arranged on a most satisfactory basis
bor.
for this company a settlement, in cash, with the Government
of Mexico for all the subsidy due from the Mexican Government to this corporation, in amount over $14,000,000, the last
draft having been paid the day before his death.
Passing in review his connection with this company commencing with its organization as its attorney, and later as its
President, he met every demand. He mastered and was successful in the detail of railroad work he built branch roads
and he developed and carried to success large schemes of
finance.
He adapted himself to all these with a quickness and
accuracy seldom if ever equaled in the history of railroad
tral
a
7
o
Total sundry cars
Total oars
in the Providence of God, Levi C. Wade, President of this Company, has been removed by death, and
Whereas, the Board of Directors, recognizing and fully
appreciating his long and valuable service and the warm personal regard in which he was held by each member of the
Board, desire to place upon the records their appreciation of
his loyalty to this
Sundry CarsBoarding
Water
Water and coal
Wrecking
Pile driver
11
27
6
3
2
iVoL. LII.
that collected from January
agreement of liquidation
final
The
was made with the Mexican Governraent. trust amount collected from
referred to hereafter
of the
July 1 to October 31 becomes a part
In the early part of the year 1890, negotiations were opened
with the Mexican Government for the settlement of all the subsidy due the Company on all lines that had been constructed,
and the negotiations were finally completed, and an agree-
ment made on June 30th.
It was agreed between the Grovernment and the Company
that on June 30th, 1890, there was due to the Company a net
balance on all the subsidy which had been earned of $19,830,-
;
management.
-„,
,
Amid all the large work in which he was engaged Mr. Wade
was simple in his nature, courteous and gentlemanly in his
manners, and easily approached by the humblest person. He
showed at all times the fullest integrity and honesty of purpose and was as magnanimous as he was broad in his conduct
of affairs. He was a man of large rfittainments and great
general knowledge. His mind worked quickly and he had
wonderful power in grasping new subjects and carrying them
He worked assiduously for the comto a successsful issue.
pany, but he never failed to recognize the touch of other mHis whole life was based on
terests affected by the company.
He believed and went forward to carry
religious conviction.
out his belief. He wanted to do the right, and wrong of
every kind shocked and grieved him. His place in this company cannot easily be filled.
iJeso/fed,— That in the death of Mr. Wade, the members of
the Board feel that they have lost a firm friend, a noblehearted, generous-minded, faithful man, one who has had
their fullest confidence and never failed them.
Their sympathv goes out to his family in their deep sorrow,,
with the hope that the noble example and the life that has
been so full of large and successful work and noble Christian
duty may be to tliem a consolation and a strength.
Voted,— That these resolutions be spread upon the records
Mr. Wade.
of the Board, and a copy sent to the family of
793 01 Mexican Currency.
It was also agreed as a basis upon which the discount of
this amount should be made, that at the rate the collections
of subsidy certificates had been made by the Company in the
past it would take in all eight and one-thira years to
This would make the
collect the balance due the Company.
average time for the payment of this balance, if all paid at
once, four and one-sixth years.
It was further agreed that the Company should allow the
Government for discount at the rate of six per cent per annupi, which for the four and one-sixth years would be equal
to twenty-five per cent. Twenty-five per cent was accordingly deducted from the $19,820,793 01 previously specified as
due the Company, which left the net amount due under the
agreement as of June 30th, 1890, $14,865,594 76 Mexican Currency.
The Government further agreed that this amount should be
paid to the Company in four equal instalments, the first on
December 30th, 1890, the second January 20th, 1891, the third
February 20th. 1891, and the fourth, March 20th, 1891.
It was agreed by the Government that the Company should
continue the sale of certificates the same as in the past until
By order of the Board of Directors,
the 31st day of October, 1890, at which time all sales should
S. W. REYNOLDS,
cease, and that the amount which the Company had sold
Clerks
October Slat, 1890, inclusive, should be defrom July 1st to
the amount due which the Government had
ducted from
agreed to pay on th« 20th day of March, 1891. This agreeINCOME ACCOUNT FOR THE YEAR 1890.
ment has been faithfully carried out on the part of both par(CSlTED STATES COKRENCT.)
the final payment was made by the Government in
ti«s, and
Cr.
1890.
London, on the 20th day of March, 1891.
$682,27113
With the proceeds of this payment the Trustees have bought Jan. 1. Balance from 1889 yeai:
1,978,13b t5»
for the
from time to time under the terms of the ConsoUJated Mort- Dec. 31. Net earnings
Subsidy certificate collections Jan.
,„„„.
«ige, as an investment, $5,597,000 of the Priority Bonds of the
...
1 to June 30, 1890
^i'lioR^^-i 97Q 507 11
17,952 65 $3,379,a07
MiseeUan. tot. acct. for the year.
Company the balance of the issue of $7,000,000 of said bonds
then outstanding, $1,403,000, was duly called for payment
and cancellation on the 10th day of April, 1891. Inasmuch
Contra.
1890.
as all the proceeds of the subsidy settlement have not yet
July 1. One year's additional *V^*5''*''L''"«<i7Q S7q S7
been converted into United States currency, and all the "acfirst mortg'c assented 4i; bonds.. $379,879 87
coimts coveiing the purchase and payment of the Priority Deo. 31n Cost of 2 locomotirc engines. 1 baggage, mail and express car, 2 pasBonds have not been received from London, where most of the
senger coaches, 12 water tank
bonds were held and paid, a complete statement cannot now be
cars, and 300 box cars, replacing
adjustment in the accounts of the subsidy dismade, and the
worn out and destroyed equipm't 223.56b J,^
Balance of income account Dec. 31,
count and the exchange have also necessarily been deferred,
1889, aft<>r iiroviding for above
but, after the purchase and payment as above, there wiU be
charges, transferred to credit of
$4,400,000, which is to be put in trust and used as
left about
'•Equ'pment fund" to cover future expenditures replac'g wornmay be necessary for the payment of the principal and inter78,8.^0 04
out and destroyed eauipmcnt
est of the Consolidated Mortgage Bonds,
accordance with
Cost of new iron bridge over the
the terms of the mortgage which secures said bonds.
iron
Chubiscar River, replacing
bridge destroyed by wash-out
^„ ..„ „„
46,492 bJ
Oct. 13 1887
One year's interest on mort. bonds.2,0?6,234 98
Interest Jan. 1 to April 2 on deThe Company met with a very serious and almost irrepara28,467*1
benture bonds
ble loss on the 21st of March, in the death of its President,
Premium on debenture bonds pur„
26125 2,, 83,727 40
chased in 1890 prev's to April 2.
who had been connected with
the Honorable Levi C. Wade,
organization, and who had served &b
the Company since its
$493,779 71,
Balance carried forward tol891
He had filled the posiits President since the year 1884.
,
H
;
-
m
Hat
THE (HKONK^LE.
1891.1
9.
SUMMARIZED STATEMENTS FOR THE YEAR
725
1890.
BARKINOS AMD EXTBtiaBS.
Orott famingt—
FrcUlit
COMMERCIAL EPITOME.
M.702,U2 48
1,436,317
27,f 07
144,211
45,0«9
TisOiS
FiMHMiniter
Kxtrs b(igga««
Exprea... ".„
Tcleitrnph
Mteccllnueoue
88
90
Friday
13
28
56
W,425.fl94 08
4,001,170 47
Totnl
Nioiit,
May
1891,
8,
There was cold weather during the week under review in
the northern sections of the United States; ice formed and
snow fell. Reports of injury to crops are generally limited
to damage to fruits, and to these the injury does not appear
93,434,523 61
Operating expenaea
Not earnings (Mexican ourrenoy)
Cotton seems to ttave received very little hurt.
Qeneral trade improves, but the strikes and the high cost of
living are serious impedimenta to busineM in manufactures.
The following is a comparative statement of stocks of leading articles of merchandise at dates given:
to be serious.
(Equivalent in United States currency to $1,978,196 69.)
OBKBRAL OOVanNMENT 8DBSIDT COLLBCTION8.
$143,020 40
132,2.'i« 76
133,553 23
127,652 08
122,668 31
117,59381
January
February
Marcli
AprU
May
June
1891.
AprU
Total (Mexican currency)
$777,614 68
(Equivalent in United States currency to $601,128 64.)
GENERAL BALANCE SHEET
DEC.
31, 1890.
and Equipment :
To December 31, 1890
Material, fuel and supplt ft on hand
Mexican OoremmenI:
Subsidy Certllloatos on band and
Picdad
As a Kuarnntee to the Mexican
Governmont
Additional amount required undi^r
amended concession
Ah a Kuarautce to the State of San
150,000 00
Sisal
11,684,669 38
on hand Dec. 31,
1890
Tampico Harbor C'ompantt
Par value of .'locuritics issued to that
Company, under contract to provide funds for prosecution of work
on Tampico Harbor
3,700,246 73
•'
4,000,000 00
1,070,243 45
and Accounts receivable
Cash BaUmees Dec. 31, 1690
On hand and in Banks
$585,674 61
151,657 38
In transit to Boston
Total
737,332 02
$152,830,489 09
LIABIUTIES.
Capital stock
$46,902,600 00
Bonded debtVive Per Cent Priority Bonds
$7,000,000 00
Con.solidated Mortgag* 4 per cent
52,871,000 00
1,075,000 00
88,059,747 50
$28,341 00
1,254,26000
salaries
1,282,665 24
for
535,953 49
General Oocernment Subsidy Account—
Total subsidy earned by theC>mpa'y.$26,398,4H 88
Less Subsidy CBrtiflcatos collected to
June30, 1890
6,577,61887
Amount due from
the Government
June 30, 1890, as agreed, Mexican
Currency
$19,820,793 01
United States Currency.
15,474,916 11
Equipment Fu)ul—
Amount
act aside as per Income Account, to replace worn out and destroyed Equipment
Income Account—
Balance to Dec. 31, 1890
Total.
August delivery
September delivery
o.
o.
c.
o.
o.
6-94
705
716
7-28
7-44
6-87
6-99
7-07
7-20
7-35
6-77
6-89
6-97
7-12
7-25
TAur.
6-P6
6-90
7-00
7-06
7-22
7-37
6S9
704
7-18
7-30
Fri.
6-85
6-95
697
712
7-24
Other products of swine show more or less depression, and
today sales included 35,000 lbs. pickled bellies, 10® 12 lbs.
average, at 5^c. Tallow is firmer at 5%c. Cheese is quoted
at lOtallc. for new state factory, full cream.
CoflFee on the .spot is quiet but firmer; No. 7 Rio is quoted
at 18Uc.. and 1,000 bags Capatana sold to-day at 18%c., with
a moderate business in mild grades. Rio options made a
slight advance in the course of the week on the small crop
movement and decreasing visible supply; but to-day tl-e market was weaker, under dull European advices and some
selling for that account. The close was steady, with sellers
17-350. December
August
15-2SO.
September
16700.
October
16-20c:
showing for the week a slight advance in the early and a
slight decline in the later months.
Raw sugars have declined and close at 3c. for fair refining
Cuba and 3J^c. for centrifugal of 96 deg. test, closing quiet.
Refined sugars also cheaper; standard crushed 5J^c. and granulated 4*80. Sugar for future delivery was quiet at 3'44(g
3-48c. for June, 3-48:S3-54c. for July and 3-48ia3-56c. for
August. Molasses more active tor boiling grades
two cargoes sold to-day at 13J^c. for 50 deg. test in hhds., to go to
Philadelphia. The tea sale went off at steady piic«8.
Kentucky tobacco has bten quiet at unchanged prices; the
sales for the week are only 150 hhds.
Seed leaf in fair demand, and sales are 1,315 cases for the week, as follows: 700
cases, 1889 crop, Pennsylvania seed, llV^(8l5c.
145 cases,
1889 crop, Pennsylvania Havana, 13(o28c.; 200 cases, 1890
crop, New England Havana, 18d26c.; 25 cases, 1890 crop,
Pennsylvania Havana, p. t., and 250 cases sundries, 7® 35c.;
also 650 bales Havana. 70(S$1 15.
Refined petroleum is firmer at 7-20c. in bbls., 9-20c. incases
and 4'65c. in bulk; naphtha 6-25c.; crude in bbls. 6'75c. and in
bulk 4'20c. Crude certificates have advanced, selling to-day
at 71 ?g'@72>^c., closing at the higher figure. Spirits ttirpentine (ieclined and then advanced, closing at 393^3395^0.
Rosins are easier atjl 60^ $1 65 for strained.
On the Metal E.xchange Straits tin was fairly active to-day,
with sales of 90 tons at 19-95 a 20c. for Jime, 20 05c. for July
and 20-15e. for October. I-ead remained nominal. Domestic
lead quoted at 4-26c. Domestic spelter 5c. The interior iron
17-95C.
I
17-9'ic.
17-dOc.
I
;
and Accounts Payable—
December
500
—
Scrip, e-xohangcablc into First Con-
of
lunedeilvery
July delivery
Mar
solidated Income Bonds
187,200 00
Second Consolidated Income Bonds. 10,587,000 00
Registered Income Bonds
649.000 00
6424
26,803
173,525
grain markets.
DAILY OLOSIHO FBICES Or LASD rVTUBES.
Sat.
Mon.
Tues.
Wed,
July
Ten Per Ccn' Coupon Motes Scrip, exchangeable into Coupon Notes
1,00000
First Consolidated Income Bonds
15,672,000 00
First Consolidated Income
Bond
Scrip
65,fi00
2,707
30,510
179,100
2,707
22,100
235.050
varying prices; a sharp decline early was followed by a smart recovery, a part of which was afterward
lost; values moving more closely with the fluctuations in the
June
1,200 00
1889)
645
2,736
33,400
6,450
None.
8.500
73,000
as follows
16,347 50
Ten Per Ce"t Coupon Notes (ceased
month
and
May delivery
?fotet
Including wages and
bbls.
bales.
bales.
bales.
sacka.
390
21,000
539,100
149.475
16,000
1.980
1,400
33,480
4,405
3.900
16.500
72,000
992
None.
101,173
None.
1,4«9
4,500
490,100
120,605
12,125
active, but at
$15,570,559 19
Stibtidy Trust Fund :
Casli, Securities, etc.,
Toxtchers, Pay-Rolls
bags.
pkgs.
bags.
bags.
F,55a
28,975
31,404
61,54»
273.249
58,846
51.200
13,.^35
75.586
21,396
Lard on the spot has been dull and drooping, closing barely
steady at 6-30»a6-23c. for prime City and 6 -87 i^c. for prime
Western, with refined for the Continent quoted at 6-So®T-25o.
The speculation in lard for future delivery has also been more
. . .
Coupons and Accrued Interest—
Coupons overdue, not presented
Coupons due Jan. 1. 1891
Accrued Interest to April 16, 1889,
on outstanding Coupon Notes and
bales.
bbls.
bbls.
bbls.
hemp
hemp
Flour
Total Subsidy due from the Government June 30, 1890, as agreed.... $19,820,793 01
Less Certificate collections due July
1 to Oct. 31, 1890.
$569,366 38
Amount of first draft
collected on general
settlement
3,671,867 44 4,241,233 82
16,
No.
Saltpetre
Jute butts
150,000 00
to bear interest April
bbls.
Manila
cession
210,U«3
33,458
47,700
147
None.
230.567
None.
205
15,300
470,800
134,534
13,647
1,164
2.186
22,500
2,500
None.
16,500
mala.
Linseed
150,00000
rotosi
42 056
68,825
72,525
55,218
1,135
None.
171.658
None.
hhds.
boxes.
bags, &o.
hhda.
hhda.
Rice, E. I
Rice, domestic
250,000 00
Certificates deposited with Banco Nacional de Mexico, to guarantee
f ultilment of Ttimpico Harbor con-
Bonds
Ac
Sugar
Sugar
Sugar
Melado
Molasses, domeatlo
Hides
Cotton
Roaln
Bpulta turpentine
Far
01
3><,379
bags.
bags.
Molasses, foreign
auioiint due, from the Government.. $19,120,793
Ccrtillcates depoBited with Monte de
First MortKatte Bouds, not converted
into Consolidated Mortgage Bonds.
First Mortitaae Bond Scri|>. exchangeable into First Mortgage Bonds...
bales.
Tobacco, foreign
$130,480,099 03
1,067,897 58
10,813
66,363
22,204
tea.
Coffee, Rio
Coffee, other
Ooffee, Java,
Contlrticlion
Mexican Currency
United States Carrency
bbU.
1890.
Mayl.
1.
hhda.
rol)acco, domestic
ASSETS,
I.uis
Pork
Lard
1891.
May
I.
78,825 04
495,779 71
$152,830,489 00
;
markets
reflect
some improvement
in
demand and
prices.
THE CHKONICLK
726
COT TON.
Friday, P. M.. May 8, 1891.
Thk Movement of the Crop, as indicated by our telegrams
from the South to-niKht, is given below. For the week ending
bales,
this evening: the total receipts have reached 44,773
against 59.536 bales last week and 64,733 bales the previous
week, making the total receipts since the Ist of Sept., 1890,
6,613,083 bales, against 5,717.377 bales for the same period of
1889-90, showing an increase since Sept.l, 1890, of 895,706 bales,
^^
Tues.
146
1.347
5,692
1,157
2,587
169
272
13,710
1,652
1,656
710
6,300
1,437
15
1,437
5,413
HO
414
.
1,473
Bavaunah
1,527
326
330
99-
1,376
Brunsw'k, &c.
Charleston
PortKoyal,&c
Wilmington
29
165
6,967
390
Orleans...
Mobile
Florida
387
1,174
1,512
1,074
370
908
934
29
108
180
78
28
21
588
253
279
48
1,187
497
50
316
257
3,201
1,492
343
502
119
334
333
532
520
314
416
167
9,037
41,772
Wa*'gton,&c
Norfolk
West
Point...
551
N'wp'tN's,&o.
New
York
Boston
Baltimore
128
375
118
Phlladelph'a,&c
487
330
418
Totals this week
6,501
512
4,228
8,039 11,171
5,796l
532
1,022
1,397
416
2,002
we
give the following table showing the
week's total receipts, the total since September 1, 1890, and
the stock to-night, compared with last year.
For comparison
Receipts
May
Stock.
1889-90.
1890-91.
to
This
Week.
8.
Sitice Sep.
1,
Qalveston
El Paso.&c.
5,692
Hew Orleans.
13,740
1,652
2
6,300
1,437
5,413
. .
UobUe
Florida
Bavannah.
..
Bruns., <&o.
Charleston ..
30
414
P.Royal.&c
Wilmington
Wash'tn,&c
Horfolk
3,201
1,492
West Point.
NwptN.,&o
Hew York.
532
Boston
1,022
1,397
Baltimore. ..
PhU'del'a,Ao
2,002
..
Totals
416
1890.
This
Week.
41,772 6,613,033
Since Sep.
1, 1889.
1890.
1891.
435
835,586
23,212
19,028
3,306
6,380
,910,855
468
976.662
23,716
1,978,408
283,661
43,213
1,079,736
182,620
490,403
861
186,410
3,744
603,521
331,138
91,659
123,507
101.820
49,219
54,782
239,319
32,265
928,693
161,450
318,875
1,833
132,802
138,579
18,334
63,339
5,432
22,608
11,568
4,521
193
300
21,172
143
7,344
3,670
399,864
323,564
57,829
113,081
70,120
37,524
76,456
10,478
2,455
1,050
139,361
4,700
3,650
9,774
7,929
123,425
4,500
1,137
8,847
16,408 5,717,377
118,836
233,416
36
3,740
1,111
473
398
73
291
2,029
150
In order that comparison may be made with other years,
give below the totals at leading ports for six seasons.
Receipts at-
1891.
Galv'ston, Ac
1890.
Charl'st'n,<!ko
5,692
13,740
1,652
6,300
5,413
WUm'gfn,&c
444
Horfolk
W't Point, &o
3,201
2,024
6,276
Hew
Orleans
Mobile
Bavannah.
..
AI' others
Totthlsweek
41,772
1889
1888.
1887.
2,791
6,486
217
526
122
4,521
1,416
2,250
4,457
1,732
1,157
1,301
181
70
1,993
1,441
5,606
8,348
4,329
4,086
150
558
101
1,111
871
2,393
16,408
22.411
1,183
11,487
135
2,531
8,338
3,895
2,534
5,256
4,671
626
1,506
2,874
3,118
4,611
36,223
12.666
BlnceSept.l 6613.083 5717.377 5439.581 5292.089 5147,8
we
1886.
435
6,380
468
193
36
t7
31.754
5113, 1 02
The exports
for the week ending this evening reach a total
of 56,346 bales, of which 33,881 were to Great Britain
583
to France and 31,883 to the rest of the Continent. Below
are
the exports for the week, and since September 1, 1890.
Week Endin. May
I
from—
Prom
8.
ExporteA
Exportt
Wuk.
Britain. France
Total...
'total. 1899-80.
Oonti.
ntnt.
1891
140.980
98.632
16,330
243.441
63,180
121.996
400,761
183.359
11,599
45.412
31,730
20,817
1,300
221
507
8,218
4,363
807
8 at—
11.072
1.897
1,617
23,368
719
35.128
163.940
6.913
80.240
1.911
72.893
629.021
192.358
163,608
22.731
33.881
68a
21.883
66.346 3,062,477 525,122 1.732.354 5,319.963
11.973
1,162
7,138
20.563 2.715,623 474.083'l,191,679'4.681.g86
dr
Leaning
Oreal
New Orleans...
Other
Foreign
France.
Britain.
8.-71
1,551
Coast-
Stock.
wise.
Total.
5,700
1,568
25,219
6,119
900
900
1.300
None.
6,000
None.
5,500
6.200
6.000
9.296
None.
None.
None.
None.
None.
700
None.
None.
None,
None.
None.
None.
3.280
3,000
None.
600
None.
None.
7.300
None.
6,100
10.180
9,000
163,330
12,909
21,708
13.872
18,334
4.378
129.181
20,273
Total 1891...
37,022
9,996
7,762
10,068
61,818
383.988
Total 1890...
Total 1889...
18,193
21,510
450
7,581
11.316
2,795
8,912
29,019
51,892
204.427
323,350
Charleston ....
Mobl.e
Norfolk
New York
Other ports
1,182
The speculation
4,121
in cotton for future delivery at this
market
opened the week under review wirh an advancing tendency,
yet not active. The improvement that took place in the
course of Saturday and Monday was due mainly to unfavorable reports from the growing crop.
Complaints of drought
began to be received, but rains were reported on Tuesday,
causing the loss of the early advance that morning and a
slight further decline.
In the meantime, however, the temperature had become quite low; there were snow and ice in
Northern latitudes, and on Wednesday there were reports of
light frost in the Northern Belt and in the "up country" of
the Carolinas, causing a slight advance; but the trading was
without spirit.
slight advance checked the demand.
On
A
Thursday the weather turned warmer, and it was
thought that the danger from early frosts had passed.
Consequently the market, after opening slightly dearer,
in response to better reports from Liverpool and Manchester,
took a downward turn under free sales to realize, and closed
lower, though a steadier tone was brought out in the last half
hour by a report that the acreage in Georgia showed a decrease from last season. To-day a somewhat uncertain and
irregular opening, in which this crop was easier and the next
dearer, was followed by a slight but general improvement,
due to the continued drought at the South, and to the rumor
that the forthcoming report from the Department of Agriculture, promised for to-morrow (Saturday), will make an unfavorable exhibit of the prospects for the next crop; though
how it can be worse than last May the bulls failed to explain.
Cotton on the spot met with a moderate demand for home
consumption at steady prices, middling uplands closing quiet
at 8^c.
The total sales for forward delivery for the week are 271,700
bales.
For immediate delivery the total sales foot up this week
for export, 5,449 for consumption,
0,419 bales, including
in transit. Of the above
for speculation, and
bales
were to arrive. The following are the official quotations for
each day of the past week May 2 to May 8.
—
—
—
—
—
UPLANDS.
mon Taea Wed Tb.
Sat.
^Ib.
Ordinary
Btrtot Ordinary
Good Ordinary
Strict Good Ordinary
Low Middling
Strict Low Middling
Middling
Good Middling
Strict Good Middling
Middling Fair
6I4
6»4
614
6"l6
6iit
7*16
614
6ii,e
7»,6
7.4,e
8'l6
S'lifl
8''9
963
9»8
10
GULF.
6'1„
7'«
7V
8
8
H3«
838
8«1
9«6
9'16
STAINED.
H\
i)^
9^18
V
11%
lO's
1138
eiiie
7'«
8
Wa
7>fl
H3fl
83+
918
8%
9^
ll'is
8%
9'>i«
918
9J,6
101,6
107|»
116.6
1113,,
6
6
6
658'
658
71))
7^
668
715
658
71«
85„
86„
6
8^8
8»,«
81618
9il,g
IOI16
10lt.,g
611,8
7'«
8
838
611,
8
838
658
713
86,6
Low Middling
§l'">
8 '8
958
10
6
lb.
768
8
838
mon Taes Wed Th.
Sat.
Good Ordinary
Strict Good Ordinary
6\
10
9^16
lOl.fl lOl.fl 101,6 101,8
lO'ie lO'in 107,, 10',«
116,8 11 '.,8
11»I6
llisu lllS,fl tl'^ts 111',.
Pair..
65lg
6"i«
mon Taea Wed Th.
6H16
"(lib.
8'l«
811i„
878
968
Prl
7*j6
71»i»
8»18
lO'a
1138
llSfl
Sat.
Ordinary
Strict Ordinary
Good Ordinary
Strict Good Ordinary
Low Middling
Strict Low Middling
Middling
Good Middling
Strict Good Middling
Middling Fair
85,„
8ii,e
S^s
9»8
6>4
10
10
lOTg
10^8
llSo
Fair
FrI.
6%
7»,e
81,8
8 ,6
8is,e
93,8
938
1016
10»«
113g
Ifs
Fri.
61,8
6'',6
838
MARKET AND
SALES.
The total sales of cotton on the snot and for future delivery
each day during the week are indicated in the following
statemeni. For the convenience of the reader we also add
a column which shows at a glance how the market closed on
same days.
316.655
161,630
1,940
259.644
129.900
71.979
421.953
186.443
61.601
8,827
1,300
607
On Shipboard, not cleared—for
May
Middling
Total
102,962
638.107
634,046 1 ,771.443
100
71,917
430.120 695,381
24,872
8,837
N'portNws. &c
New York
11,211
Boston
1.697
Baltimore
687
rhl)adelp'a,ftc
May 8.
610.317 26.108
857.680 382,737
71,367
450
127,621 87,837
98.630
6,157
Charleston
Wilmington...
Norfolk
Point...
1890, to
307
Orleans.
Mob. & Penc'ls
Savannah
Brunswick ....
West
1,
Great
Total
I
OalTeston
New
Sept.
BxjKrrted to-
Ortat
OontiBrtt'n. Garnet] jum,t.
&
2
896
663
2,375
We
Savannah
30
265
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, noi
cleared, at the ports named.
add similar figures for
New York, which are prepared for our special use by Messrs.
Carey, Yale
Lambert. 34 Beaver Street.
Galveston
Tolal.
Fri.
Thurt.
"Wed.
2
Galveston
El Paso, &c.
Hew
Mon.
Sat.
Receipts at-
m.
[Vol.
SALES OF SPOT AND TKAN8IT.
SPOT MABKBT
CLOSED.
Export.
Saturday Quiet & steady.
.Monday. Firm
Tuesday.. Steady
Wed'day. Steady
Thursday Steady
Friday... Steady at 'nad.
Total...
Con- Spec- Transump. ul't'n sit.
....
283
402
275
267
307
5,449
267
307
16.100
69.100
32,000
44.500
67.500
42,500
S,449
271,700
3,965
3,965
'.'.:'.
*a/e» of
Futures,
Total.
'.'.'..
283
4(.2
27.'>
Mat
1891.]
9,
Thk Half.8 and Tiiirrs or
i.-il.l.
followiriK comi)r('l^
^
6
CHRONK.'lK.
fi-'^
"E« !|Ek
si:
~:
•
"<
a:
.
'
ft
WW
tf^ll
^.. to
:
er:
I
I
«a
MO
«
:
I
2
"
e>
:
OlO
OOQD
CO
c;iia>
00»
2
OCOOQCX)
COD
^
2
CD
^
M-j
QDOOOOO
»";o
^
"^
2
-i-j
(XjODOOO
*i C» °
-i-j
2
ODOCOOO
OCQOCQO
WOP
X-4
<
<
crno
•
5
CBX
2
»x
«X
»®
»5";
2
(OX
61.-';
I
I
00
5
QOQOOOD
xx
XX
uu
5
2
''
.
CD
(0(6^(6
Ifr-
C'
MX
oicn
(0(0
tf*
XX
5
o
(0(O
»(c
toco
I
.
.
»
m« (O
CO
XX
5
2
'^
I
total
o
2
"^
(0(o
COi^
'^
o
(0(0
ccco
I
**
I
X
(0(0
d
COlO.
(0(0
't
"^
(OX
Q(D
I
»
XX
(OX
ox
a*':
I
xxcx X QX
(C(6®(6
(0(6®(6
(to.^
tt^O*
276,000
12.000
97,500
371,000
22,000
212,000
11.000
104.000
300,000
1.5,000
216,000
18,000
12\100
185,000
67,000
704.400 778.500 642.000 611,100
2,330,534 1,521,900 1,503,017 1,585,653
American
3,034,934 2,300,400 2,14.5,017 2,196,753
4ii>ied.
8.i>itC.
6ii.d.
lie.
61., d.
12c.
Slitd
lOo.
the receipt*
corresponding period of 1889-90— is set out in detail in the
following statement.
,
lO
M ^x
X
XX
5
XX
(6(0
^ XX ^ XX ^
(0(0
§ (6 2 6(6 2 XM 9
49 971
lli 804
564,000
211,000
194,000
476.310
135.689
4,054
and since September 1, the shipments for the
week and the stocks to-night, and the same items for the
«
xxoop
(OX
54,2H1
2,173
AT THE Interior Towns the movement—that is
(0(6^(6
CJi
673, 000
191, 000
202, 000
975, 242
for the week,
xxcx
#
1,^04
ty
(0(0
ap(OQX
(6q^(o
1
194,000
67,000
476.310
135.689
4,654
The imports into Continental ports this week have been
122,000 bales.
The above figures indicate an increase in the cotton in sight
to-night of 734,534 bales as compared with the same date
of 1890, an increase of 889,917 bales as compared with the
corresponding date of 1889 and an increase of 838,181 bales
as compared with 1888.
XX
»y:
XX
5
«
.').000
1
375.242
49.971
700,000
332,000
140.000
233,446
246,000
18.000
158.400
246.000
36,000
Total visible supply
CO
«.":
XX
(C(D
XQ
300
700
2,330,634 1,521,900 1,503,017 1,585,053
—
Price Mid. Upl., Liverpool
Price Mid. Upl.. New York
fiQco
CC(D^(0
6J0a
tie*
Total East India, Ac
»r:
XX
202.000
140,000
22,000
233,446
54,281
2,173
953,000
448,000
286.000
448.836
184.844
9,854
bales.
cox
CO
.^
10,000
:)00
429.SO0
280.000
36.000
448.836
184.814
0,854
Continental stocks
India afloat for Europe
Egypt, Brazil, (to., afloat
(C(D^»
X»l *>.
66*(e
CM (O
606,400
Londonstock
««;
XXQX XXQX XXOX XXQX xxcx
(0(fiCX
336,100
-"I
2
(0(0
CO
2
1
295.000
Total American
MoMt Indiavt Brazil,
Liverpool stock
5
2
•»
X
o
XXQX XXQX
{©6^(0
(C(o
(Oi^
186,000
3,000
70,000
6.000
7,000
United States stock
United States luterlorstocks..
United States exports to-day.
«.«:
x-j
©en
I
Tap:
®y:
ocxcx
XX
12.000
122,000
5,000
77.000
lo.OOO
11,000
American afloat for Europe...
odSoo
XX
«.*:
**
2
XXQX XXQX
(0(6
OSOS
^
2
-S»
X
XXQX XXQX XXQX XXQX XXQX
xob^x QDCB^ob xx*a) XX»X 6bx*-5
t-M X
t3»
asa> u
XX
XX ^ XX ^ XX
XX
I
QOODOOO
798,000
2,900
44.200
Liverpool stock
Oontlnental stocks
ll>
XX
XX
*-'l
0000
oooo
896,000
2,300
37.400
18.0O0
Amemcar.—
I
xxooo
1890.
Total visible supply
3.034,934 2,300,400 2,145,<
,017 2.196.753
Of the above, the totals of American and other descriptions areas follows:
*-
ooqdSod
QOOOOOD
OOOp
780,u00
18,000
Egynt.Braxll.Ac.afllforK'rpe
Stock lu United Stales ports ..
Stock In U. 8. Interior towns..
United States exports to-day.
tt
aa
2
«
18H8.
11.000
Amer. cott'u afloat for Europe.
w
I
18MD.
SSA.OOO
Stock at Liverpool..
Stock at Loudon
Total European stocks.. .. 1,823.400 l,477,.^00 1,101.000 1.134.100
rndlacotton afloat for Europe.
246.000 371.000 300.000
185,000
ftsoS
»*
IHMl.
.balu. 1,190,000 1,030,000
18.000
12.000
Total Continental stocks
ml bA
ml |i-8|
93i|
in
727
Total Oreut Britain stock. 1.217,000 1,048,000
Stock at Ilauiburg
4,000
4.200
Stock at lireuien
104,000
117.000
Stock at Amsterdam
19.000
7.000
Stock at Rotterdam
400
300
Stock at Antwerp
8.000
7.000
Stock at Havre
24.^.000
103.000
Slock at Marseilles
12.000
4.000
Stock at Barcelona
120.000
Sl.OOO
SlockatOenoa
12,000
0,000
22,000
Stock at Trieste
4.000
Fctdrxs are shown by the
z:.-
5s
HE
I
9
(6x
(6
'
'^
I
e)
X
:
(0(9C(0
QC*Q
MM O
66
aco
I
66°6
»(o
5
m6
2
(6(6^
lO^
;
3
66
lOOl
(0(00(0
6o
2
ei^:
6<=o
(CQ'-'©
^-
MO
QCO
(0(00(0
»
1
M—
(ccn
aa
•<
lO.
a.";
(0
0>
1
*r.
I
;
g
'i
a
a
:
(0(COX
(0(00(0
oo
-a
iO(o
tece
toto
^
o
•I
M
@>
:
Q(0
*K
I
I
«:
:
(0(0
CO
(0(00(0
a>
MMOhi MM^fl
(0(0
loto
I
I
I
o ti c
a
*
|:
:
>
:
•
:
:
.
»
(^>
£•:
5
MM
»ot«
2
"^
(0(00(0
,
otc;ia>cooit^CJ>
•
h-UCCCO'^lf'QD
IOH'tOXtOWM(U^tOr-'CClP»05D*k*JiX«l
o6
XiO
a
— COCO 5510 (*»'^'^'^ODU'®^CCJ»M
oooi!0^too^oaosi*»>©«o:toooM--i
^ r-
TO OD OS tt*
5
2
"^
(0(0
U»0:Oi
h-
M QD CO Oi « CC O to to r- O O CI O OS t- 03 o
C;»
Ht;
*>>r-
#*
>-'
Cn
H M Ki
•
wco"-o
tc't- O" CD r* 10
wo
C»'
OS 05
O
H*JOt0-O-q*.0J0C03l
MtO
(D
to
0«, -I
*
^ O: •- -J O OS *- *lO&J
rf^-TC
I
:
to
(0
MM°M O
lOCO
CO
0(0
,
I
W
wpM«to
COM
Ifr.
'toV'ccb' io*
COSff^O'
I
c^iw;
»c 'co'mV. Vi to
X a*
-l--i*cc^t0C'«icO'-!
if^:
avoroos:x>4^cto>
o<
co
o ViccV. to o> o
—
c^ioiasai
^1
xto
otoco^'03if>oif<-o
»
a
:
I
I
<»:
:
I
to
(C(OQ(0
I
.
OpwODC'OClO^^OOOjDy'jkpr-QOpffcW
CCOtDxOCCO
6o*6
KM X
(0(0
^ CO M
I-"
I
I
I
<1
O: *-
I
M
O ^ CM
t-»
•
:
CO
CO
-I
1
I
CCCOH'
lOtoco: to wee
CO^^OltO. i-tOi-OD
01
M
coot
tOOrf^Ot 05O
&9C;*lf^03»UOS
M
01
<-•
OM^OStUtOCOtO^I-^^tXCC^-JCOOiCDCO
I
«:
:
I
a:
ytl0;J*.Mp^.--Q0i»kj»]**^MWCeOtQ0p;s|
'
I
W M X or to
M »0 M -^ K. a
t-*
I
K-sn H ." D p
« a SB p
r: »:
XOiU-qCOOrf^CnOO)'
:
OS— ceo:
k,Om
I
r-i ui •; ui ui
I—»
o>;.o>o:{X)XwoO):
(0
a
COM
I
to
toi«>
:
.
g?OW©- -^f
>)
-
/-,
.
S W.
:;,
(0(OQX
I
^ x(0
(0:00(0
»
"
MM
c-^
'
5
C^M
ar;
I
(0(0
(0
I
^
(0(0
—M 9
>
I
^»»- HgHHPa- o
r^
I
icx
»:-^:
(0(0Q(0
COjO
:
»
X
00"0
o
66
mc3
O
SD
otc
l->
5'
fas-
:
mA«m Cm^m M>i06 66®6
COCO
SStO
Q MQ ^ ex X
(0(0
"
"^
(O(0
(0(0Q(0 -ce(co(o
5
O
.a-^
M
M
n
•ix
X(OQ(0
(C(OQ(0
I
C3
I
t*
(C(0
(OtO
5
OIQS
(0(o
>1
X(0
"^
oos
(0(0
I
-
(OX
I
(0(0
a
XXOX
»*:
(0£Q(0
a»:
(6(6^(6
CO
^1
d
CO
XXOX
or:
(0(00(0
I
I
(6q®(d
5
2
T
(0(0
e.N;
M
X(0OX
I
ob«D®Viobw*»^©'y»co©bMH-toH
— tO» — CStO — CJ'©ODh-*fcXah-CO'lt-«a»
i*k
«OM*JW — CO*.
I
I
I
I
I
^OC0*»C:b3O!D»W»C:*>lCCOQ0-gW
*>.
i:
InoluilessalesmSeptomhcr.
1S!)0. (ore(ept«ml)er, -^iS.SOo; Septem349.:J()0; Scptomber-November. for November.
10
ber-Octobcr. for October,
382.7""
September-December, for December. 047.300;
0:
it^^'
C^l-^tOtO
SeptemberJanuary, for January. 2.v!60.8>K); September- February, for Fehruarv,
1.58B.1'"
Scptembor-March, for March, 2,147,6<Ki: September-April,
f
,
y
for April, 1.512,400.
;
10
^
Goto
0>
M
;
bce^t^:©'
toff.
©i-'oi;
ccc;'r-o>t0'
I— to
lowto —
oci^oco
- O M CO *)
CnOOtOJOD'^l'-'t—
©©©Ol 1^00 00 to
!-•
;
•
>
The foUowiiiK exchanges have been made
•09 pd. to exch. 1,6 JO July f jr Aug.
•19 pit. t« exch. 2'JO June tor Auif.
•01 pd. to e.tch. 100 Aug. for Sept.
-07 pd. to exch. 200 May for Juue.
I
,
.
durinfc the
-19 pil. to oxch. 400 June for Aug.
-28 pd. to exch. 1,100 M^y for Aug.
-07 pa. to exch. 100 May for June.
|
those for (Jreat Britain and the afloat are this week's returns,
and consequently all the European figures are brought down
to Thursday evening.
But to make the totals the complote
flgnres for to-night (May 8), we add the item of exports from
the United States, including in
^«C»0'
tr^v>©to,
CDC— 0>.
*
I
The Visible SuPi'L.Y of Uotton to-night, as made up by cable
and telegraph, is as follows. The Continental stocks, as well ap
it
the exports of Friday only.
W
0D0»
week:
t
rf^'
co;
00.
to
00
^
Cfl
at
•^oscp
)ifc
—
M;
•- y»
c;<
OS fij CO
— tocni^co,
Mj^
-awe?' to
MtO
c V to
cxosco^^-c^c^o*
^-iococjco»*»'icoo- Ctoca'^*J*J^*^
LoiilArllle dtrures "nor," in hoth years.
I*a8t year's flirurea are for OrlfUo.
This year's Akutcs estimated.
totals show that the old Interior stocks hare
decreased during the week 17,350 bales, and are to-night 130,563
bales more than at the same period last year. The receipts at
the same towns have been 13,438 bales ynore than tl>e same
week last year, and since Sept. 1 the receipts at all the towns
are 565.594 bales more than for the same time in 1889-90.
The above
THE CHRONICLE.
728
[Vol. Lll.
Weather Reports by Telegraph.- Reports to us by teleQuotations fob MiDDLiNa Cotton at Othee Markets.—
Below we give closing quotations of middlinv cotton at South- graph to-night indicate that the temperature
has been lower
ern and other principal cotton markets for earh day of the week
in a large portion of the South during the week, with frost
in
a few localities. This has served to check growth somewhat,
CLOSIKa QUOTATIONS FOR MIDDLINO COTTON ON—
Week ending
but no material damige is reported by any of our corresMay 8.
Satur.
Fri.
Thurs.
Mon.
Vues.
Wednes.
pondents. In other respects the conditions have been quite
satisfactory, but rain is needed at some points.
Galveston...
8ifl
8^
S^
B\
81a
an
Oalveston, Texas. — It has been showery on one day of the
New Orleans
838
838
838
83s
8»i«
8"i«
MobUe
85,,
85,8
SH
8*18
week, the rainfall reaching twelve hundredths of an inch.
8H
8>I8
Savannah...
83,
8^6
8^18
83l8
8'l6
83;a
The thermometer has averaged 74, the highest being 80 and
Charleston.
8=8
8^
8%
84
84
8^
the lowest 67.
Wilmington
838
838
838
838
838
8%
8l2
Norfolk
8»«
8>9
Palestine, Texas.— We have had rain on one day of the week,
81a
8>a
81a
8''8
8 '8
Boston
8'8
S'e
8%
8'e
the rainfall reaching ninety -three hundredths of an inch. The
8''9
8 '8
8^8
Baltimore...
878
8%
»->i
thermometer has averaged 67, the highest being 76 and the
938
938
Philadelphia
938
938
938
9%
lowest 58.
8»8
8=8
Augusta.. ..
8»8
858
8=8
8%
Memphis
8',8
838
838
87,8
81.8
8',8
Dallas, Texas.— The weather has been unseasonably cold,,
8T.8
St. Louis
838
8%
83e
87ie
8'l8
retarding germination and growth, but apparently doing no
Cincinnati
9
9
9
9
9
9
9l8
other harm. The thermometer has ranged from 54 to 88,
9lB
Louisville. ..
file
9ifl
918
9%
averaging 71.
The closing quotations to-day (Friday) at other important
Hiintsville. Texas.— Dry weather has prevailed all the week.
Southern markets were as follows:
Average thermometer 74, highest 86 and lowest 83.
8I4
Atlanta
838 Little Eock
8iie Raleigh
San Antonio, Texas.— The weather has been dry the past
8i« Montgomery
Columbus, Ga.
Rome
8
8I4 week.
The thermometer has averaged 72, the highest being
8i«
Columbus, Miss
Selma
T'e Nashville
8ie Natchez
Eufaula
7% 87 and the lowest 58.
83ig Shreveport
Luting, Texas.— Dry weather has prevailed all the week.
Receipts From the Plantations.—The following table
Indicates the actual movement each week from the plantations. The thermometer has averaged 76, ranging from 63 to 90.
Columbia, Texas.— It has rained on one day of the week,
The figures do not include overland receipts nor Southern
consumption; they are simply a statement of the weekly the precipitation reaching one inch and twenty-five hunmovement from the plantations of that part of the crop which dredths. The overflow has subsided and replanting is progressing rapidly. The thermometer has ranged from 64 to 86,
finally reaches the market through the outports.
.
.
averaging 75.
Cuero, Texas. We have had one shower the past week, the
rainfall being seven hundredths of an inch.
Average therBnOmo—
1889.
1890.
1891.
1890.
1889.
1891.
1889.
1890.
1891.
mometer 73, highest 90 and lowest 54.
Aiw. 3
Brenham, Texas. Lowlands are being replanted, the over46,600 84,377 94,109 148,217 119.026 277,116 19,084
25.246J 76,072
10
40,407 23,670 73,413 128,779 99,005 255,024 20,969
flow having subsided. Uplands need rain. The weather has
3.540 51.821
"
17
38.9S2 20,081 71,313 102,888 90,252 242,741 13,031 12.228 69.080
been dry all the week. The thermometer has averaged 76, the
" 21
86,205 19,330 64,738 81,090 80,083 232,385 14,407
9,161 64,327
highest being 90 and the lowest 63.
May 1
28,242 1S,686 69.536 69,218 68,868 218,180 16,370
6,371 45,331
There has been no rain during the week.
Belton, T^exas.
"
8. ... 22,411 18.408' 44.772 56.445 58,905 199,791
9,638
6.445 26.383
The thermometer has averaged 78, ranging from 64 to 88.
The above statement shows: 1. That the total receipts from
Weatherford, Texas. Dry weather has prevailed all the
the plantations since September 1, 1890, are 6,799.281 bales; in week. Nights have been cool, but no frost has occurred and
1889-90 were 5,763,838 bales; in 1888-89 were 5,480,651 bales,
there is no damage. The thermometer has ranged from 44 to
2.
That, although the receipts at the outports the past week 88, averaging 66.
were 44,773 bales, the actual movement from plantations was
New Orleans, Louisiana. —We have had no rain during the
only 26,383 bales, the balance being taken from the stocks at week. The thermometer has averaged 73.
the interior towns. Last year the receipts from the plantations
Shreveport, Louisiana.— The week's rainfall has been nine
for the same week were 6,44a bales and for 1889 they were hundredths of an inch on one day. The thermometer has
9,638 bales.
averaged 70, the highest being 86 and the lowest 48.
Columbus, Mississippi. We have had rain on one day during
Overland Movement for the Week and since Sept. 1.—
We give below a statement showing the overland movement the week, the rainfall reaching twenty -four hundredths of an
for the week and since September 1. As the returns reach us inch. The thermometer has averaged 60, ranging from 43
by telegraph late Friday night it is impossible to enter so to 78.
Leland, Mississippi. The week's precipitation has been
largely into detail as in our regular monthly report, but all
the principal matters of interest are given.
This weekly eighty-eight hundredths of an inch. The thermometer has
publication is of course supplementary to the more extended ranged from 45 to 85, averaging 69'4.
Meridian, Mississippi. Cold weather is doing harm to
monthly statements. The results for the week ending May 8
young cotton. The thermometer has ranged from 41 to 74
and since Sept. 1 in the last two years are as follows:
during the week, and rain fell on one day.
1890-91.
Little Rock, Arkansas.
Rain has fallen on three days of the
1889-90.
week, and quite heavily on Monday, since which day the
Mays.
Since
Since
weather has been quite cool. The rainfall reached one inch
Week.
Week. Sept. 1.
Sept. 1.
and fifty-two hundredths. Average thsrmometer 64, highest
Shipped—
84 and lowest 47.
Via St Louis
11,177 548,718
3,865 516,965
Helena, Arkansas. While there has been no frost the
Via Cairo
2,638 282,957
1,095 306,127
Via Hannibal
weather has been rather too cold for cotton. It has rained
85,035
5,S,788
ViaEvansville
26,729
20,730 lightly on two days of the week, the precipitation reaching
Via Louisville
938 197,636
815 117.521 twelve hundredths of an inch. The thermometer has averVia Ciuclunatl
1,22a
170,990
1,716 208,718
Via other routes, &c
1,843
140,351
593 155,456 aged 45. tha highest being 83 and the lowest 55-5.
Memphis. Tennessee. It has rained on one day of the week,,
Total gross overland
17,818 1,452,116
8,08i 1,384,305 the rainfall reaching thirty-seven hundredths of an inch.
Deduct shipments—
Nights have been too cold for young cotton. The thermomeOverland to N. Y., Boston, &c.
4,837 332,328
2,393
347,683
Between Interior towns
316 108,439
639
54,539 ter has averaged 63, ranging from 45 to 83.
Inland, Ac., from South
1,819
92,564
1,262
Nashville, Tennessee We have had rain on one day of the'
109,030
week, the precipitation being twenty -six hundredths of an
Total to be deducted.
6,972 533,331
4,294
611,252
inch. The thermometer has ranged from 39 to 81, averaging
Wtek
BecHpU
at the Ports.
SVk at
—
Interior Towns. Rec'vts from Planfru.
1
—
'•
—
—
—
—
—
—
—
—
—
—
—
Leaving
total net overland*..
10,846
919,085
3,790
873,053
61.
movement by rail to Canada.
Mobile, Alabama.— We have had no rain all the week. The
The foregoing shows that the week's net overland movement crop is developing promisingly, beneficial rains having fallen%
this year has been 10,846 bales, against 3,790 bales for
the same in most sections. Average thermometer 70, highest 87 and
week 1890, and that for the season to date the aggregate
net lowest 50.
overland exhibits an excess over a year ago of 46,032 bales
Montgomery, Alabama. No rain has fallen during the week,
but some is needed. The cold weather of tlie last three days
1890-91.
1889-90.
did not injure crop prospects materially. There was no frost
In Sight and Spinnerif
in this latitude. The thermometer has averaged 67, the highTakings.
Since
Since
Week.
Week.
est being 88 and the lowest 46.
Sept. 1.
Sept. 1.
Selma, Alabama.— The weather has been dry all the week^
Receipts at ports to May 8
44.772 6.613,083 16,408 5,717,377 The thermometer has averaged 70, ranging from i9 to 88.
Net overland to May 8
10.846 919.085
3,790| 873,053
Auburn, Alabama. There has been no rain all the week.
Southern consumption to May 8. 10,000 469,000
6,000| 424,000
The thermometer has ranged from 48 to 84, averaging 70.
Total marketed
6.^,616 8,001.168! 26,198 7,014,430
Madison, Florida. Telegram not received.
Interior stocks in excess
18,389 186,178 "«,963
46,461
Columbus, Georgia. There has been no rain all the week.
Came Into sight during week 47,229
Average thermometer 70, highest 83, and lowest 55.
16,235
Total in sight May 8
8,187,346
Savannah, Georgia. We have had rain on two days of the
7,060.891
week, the rainfall reaching eleven hundredths of an inch.
Korth'n spinners tak'gs to May 8
1,787.428!
1,683,702 The thermometer has averaged
71 ranging from 50 to 88.
Loss in stock during week.
Augusta, Georgia. The weather has been clear and pleasanfc
It will be seen by the above that there has come
into sieht
durmg the week 47,239 bales, against 16,235 bales for the with light rain on two days of the week. The continued dry
same week of 1890, and that the increase in amount in sight spell is seriousl; delaying planting. The week's rainfall has
bfen fifteen hundredths of an inch. The thermometer haa
to-night, as compared with last year, is 1,126,455 bales
ranged from 47 to 88, averaging 73.
*
Including
m
—
'.
'
—
—
—
—
—
,
Mat
IHK CHRONICLR
», 18OI.J
Charleston, South Cnrolina.— It has rained on ono night of
the week, tlio precipitatijn reaching; thirty liiinilreilthg of an
Average thermometer 70, hixhost 87 and lowest 61.
inch.
Statcburg, i>outh Carolina.— Baia ia niucli needed. Ttiere
has IxH'n but a trace of it during the weelc on ono day. The
thermometer has averaged 697, the highebt being U6 and the
lowest 47.
Wilson, North Carolina.— Rain has fallen on one day of the
week, to the extent of twenty-one hundredths of an inch.
The frost on Wedueiiday did but little damage. The thermometer has averaged 69, ranging frcm 43 to 86.
The following statomeni we have also received by telegraph,
showing the height of the rivers at the points named at 8
o'clock May 7, I86I and May 8, 1890.
Hay
7, '91.
May
g. '90
net.
New Orleans
Above low-water mark
Above low-wnier murk.
Above low-waier luarK.
Above low-watermark.
Above low- water mark.
Memplil!)
Mashvlllo
8br«vp|>ort
Vlcksburn
lS-3
278
19-2
34-6
47-6
231
46-2
Tear Great Conti-
BnPn.
Shipments since Jan.
this meek.
nenl.
Total.
Oreat
Britain
This
Continent.
Jan.1.
670 000 66.000 1.302.000
2.000 43.000 45.000 6ri.00(> 604.0001
1890 15.UO0 G7.000l8'2.0<)0 •22.5.00o;7:t3,000l
938.000 80.000 l.:)i)4.000
923.000,61,000 1,27(>,«00
546,00o|e9.00ol 987.000
0<K> 22.000, 47.(H)0 271.000,ti.">2.OOO
If)
Sines
Week.
Total.
1891
1889
1883
Receipts,
1.
e.ooo 2e.00o| 32.000 I37.000l409.000|
According to the foregoing, Bombay appears to show
a decrease compared with last year in the week's receipts of
14,000 bales and a deerea.<<e in shipments of 37,000 hales, and
the shipments since January 1 show a decrease of 2S8,000 bales.
The movement at Calcutta, Madras, and other India ports for
(he >ast reported week ^d since the 1st of January, for two
years, has been as follows.
"Other porta" cover Ceylon,
Tuticorin. Kurrachee and Coconada,
Shipments since January
Shipments for the week.
Oreat
Britain.
|
I
Continent.
Total.
BrTmin.
Continent.
1.
Total.
d.
s.
d.
Apr. 8 7^ •7\
'•
10 7«s »7\
" 17 7% »7H
" 84 7»i,«7ll„
Msyl 7*4 «7il|«
'•
8 7H *T»
1.
2,000
18.000
20,000
52,000
78,000
2.000
5,000
6,000
10,000
15.000
14,000
2,000
34,000
58,000
4.000
5,000
1891
1890
10,000
17.000
23.000
31,000
Madras—
1891
1890
All others—
1891...
1,000
1,000
1890....
d.
d.
d.
1,000
2,000
37.000
39.000
3,000
46.000
80.000
Mid.
*.
d.
VpUt
d.
(.
d.
•? 3
97 8
«7 3
3>9»7 3>i
i 97 4
4 »7 4
JzlL
2
2
3
With regard to New York we
the Chronicle last Friday,
Include the manifests of all vessels cleared up to Thursday.
Totalbatts.
New York-To Liverpool, per
steamers Alaska, 1.309
499
of ChlPHgo.
83,000
1 19.000
totals for the
week last year. For the whole of India, therefore, the total
shipments since January 1, 1891, and for the corresponding
periods of the two previous years' are as follows:
EXPORTS TO EUROPE FROM ALL INDIA.
City
.
flugarth, 1,778
Ciiflc, ,').081
Umbrla. ':6l
Tentonln. 284
Hull, per steamer liiilTdlo, 2.0">2
Havin. per Ht«ainer Lji Knla^iio,
9,192
S,0S3
To
To
5S2...
To Bremen, per "foaiuor l,&Un,!yM
To Hum -urij, pcrstfamMin .Moravia, 150....WI>land, 200..
To Antwerp, per uteamfirs Mitrengo, 360
Rhyulaod, 600
To OBOoa. pir at -aiiier Assyria, 5iK)
Riw Obleans—To Liverpool, per steamers Astronomer. 8,200
...City of Lincoln, 6..'i70 ...Florldian, 6,380
3.925... Prof i'3Bor. 5.914
8S3
5SS
850
860
500
Pedro,
30,989
7,165
4,141
To Havre, per sttinmer Pnrls, 7,Ui.'3
To Bremen, per steiiiuer NorS'i KIdk. 4.141
Oalvkston- To Liverpool, per steamers Netbergst«, 6,127....
T.utonla.
.'5.814
11,941
Mobile— To Havre, per steamer Beechdene, 450
4S0
100
To Oeeateiunurte. per at-^amer Brechrtene, 100
Savannah—To Bremen, per ateamer DrifBeld. 5.011
To St. Peieraburg, per steamer Camelia, 300
To Oport', per hark Julius, 3U0
,
To Palmed" .MiiJ irc». por burk Santlaeo. 12
5,011
300
300
12
5,642
Oharlkston-To L verpool, per hteamer Olenlield, 5,642
TbomssTumboU,
To Bremen, persteamerg Ipsden, 4,423
4,577
9.002
2,231
1,650
1,005
To St. Petersburg, per bark Desllerla, 2,231
To Barcelona, per bark Conrepoion, 1,650
WOBFOLB— To Liverpool, per steamer
.1,005
Boston—To Liverpool, per steamers Bostonlan, 3,014. ...Cat»Ottoman. 3.114
11,153
Baltimore— To Havre, per steamer Garland*, 72... „
Philadelphia—To Liverpool, per steamer Lord Gtough, 500...
72
500
105,736
Total
fhe particulars of these shipments, arranged in our usual
form, are as follows:
Bremen
Ham- Ant-
Liver-
i£
Hull. Havre, burg.
New York.
582
886
**•*
Majorca
Genoa
iurg.
<t
«
Total.
500
•«*•
100
5,011
9,002
14.072
^^t^cfO
11,941
312
300 1,650
.
2,231
530
5.623
18,.325
1,005
11,133
.....
72
"500
72
500
'.'.'.'.'
70,422
Total.
Bflona,
St.
Peters-
860
4.141
430
5.642
1,003
Norfolk...
Boston .... 11,153
Baltimore
Philadelp'a
werp.
7,165
2,052
9,192
N.Orleans. 3<>,9S9
Salve«ion 11,941
Mobile
week show that the movement from Savannah
other than Bombay is 3,000 bales less than the same Charleston.
The above
d.
oo4m
lbs.
Shirtings.
4T»
8B,««8ll,. 6
4»|. 8»i«»8ll„ 6
4»»I« 8»„»8lli. 6
*\ 8% «8\ 6
4\ 8'i<i98ia|s 6
4"'i« 8''i.«81>t> 6
«6 11
«eii
511 tfail
5 11 «6 1l
5 10 «610
5 10 96 10
S 11
9 11
pool.
Total aU1891...
1890...
8^
32t Cop.
Slid.
TwUt.
Uplds
Shirtings.
Twist.
d.
1800.
Ooirn
lbs.
lonii, 999....GeorKlan. 4.0io...
Calcutta
the ports
9U
<)tat<-f<
India Cotton Movement from all Ports.— The receipts
and shipments of cotton at Bombay have been as follows for
the week and rear, bringing the figures down to May 7,
BOMBAY RECEIPTS AMD SHIPMENTS FOB POUB TEABS.
Shipments
1801.
32« Cop.
SHIPPINQ News. The exports of cotton from the United
the past week, as per latett mail returns, have reached
106,736 hales. 80 far as the Southern ports are concerned, these
tre the same exports reported by telegraph and published in
14-3
6-5
Manciirster Market.—Our report recelvi»d by canle to-night
from MancliPHter stattm that the market is firm for both yarns
and shirtings. The demand for both yarn and cloth is good.
We give tne prices for to-day below, and leave thoae for
previous weeks of this and last year for oomparison:
—
Fmt.
21-3
729
2,032
860 2,531
8,269 19,140
2.462 105,736
Below we add the clearances this week of vessels carrying
otton from United States ports, bringing our data down to
the latest dates:
Nbw Orleans—To
Liverpool— Mar
4 -Steamer Bernard Hall,
—
Alexandria Receipts and Shipments. Through arrangements we have made with Messrs. Davies, Benachi & Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt. The following
are the receipts and shipments for the past week and for the
•corresponding
week
of the previous
Alexaiulria, Egypt,
May
6.
Beceipts (cantars*)
This week
Since Sept. 1.
two
years.
1890-91.
1889-90.
1888-89.
.
Nova
.
To Bremen-April 29— Steamer Weimar, 1,220. ...Hay 5— Steamer
Hermann.
To Hamburg-May 4— Steamer Slavonla,
April 30—
To Kotrerdam— April 23— Steamer Edam,
.
Steamer Chicago.
PBtLADKLPHLA— To Liverpool— May
3—Steamer Indiana,
307.
Cotton freights the past week have been as follows:
7.000
3,083,000
4,000
3.133,000
This
Since
week. Sept. 1.
2,000
2,715.000
Since
This
week. Sept. 1.
2.000 270.000
9.C0O 203,000
3.000 233.000
4,000 146.000
2,000 219.000
4.000 145.000
11,000 475,000
7,000 398,000
6,000 364,000
A cantar is 98 pounds.
This statement shows that the receipts for the week ending
May 6 were 7,000 cantars and the shipments to all Europ«
*
Jute Butts, Baooino, &c.
—There has been
an absence of
activity in the inquiry for jute bagging the past week, but
there seems to be no tendency on the part of sellers to shade
quotations. The ruling prices at the close were S^^c. for 1%
lbs., 6}^c. for 2 lbs. and &}ic. for standard grades.
Jute butts
are slow of sale at l)^c. for paper grades and IJi'c. for bagging
#H.
AUht.
Mon.
rues.
lis
H*
»«*
".4
»«4
——
....
....
....
>3a
'm
Tsj
^aa
TtS
»IS
»»e
"«
»]«
>«
>fl
Uverpool, steam <t.
Do late deUv'y.d.
e.
3avTe, s.<..>3
•'u
Do saU
Sremen, steam
Do
...a
e.
.
Indlrect.t.
AmaVd'm, steam.c.
27V
Seval, steara
steam.,
Par 100
•
27V
....
^
>e
>e
....
....
....
....
27V
27V
27V
27>.'
....
....
....
Si.
»J8
»I«
....
»!•
h*
....
3ie»7g2
....
• •>•
.••.
....
....
>4
\
>«
H
>4
H
»M
•»
>M
•m
•w
»'«4
>st
'».«
"f4
>»»4
"•4
"84
Of^
»-.
••1
»M
.d.
steam... d. 7S29>»«*
Antwerp, steam
•
....
>e
d.
sail
Meno,
....
•
...
•is
d.
3aroelon»,steam d.
lienoa,
-..
*«4
»i.
-••.
....
indirect., (t
Wednet. nkur«.
.—
Do via lndlreot.<i.
Do
>••
'.
.
aambnrg.steam d
Do
11,000 bales.
quality.
Scoti^n,
May4—
.
Etitorta (bales)—
Total Enrope
6,400.. ..May
.
This
Situe
week. Sept. 1.
To Liverpool
ToCoutiacQt
2— Steamer OraoU,
.'•,331.
To St. Peter.sburK-May 2-Bark Pallaa, 2.003.
To Genoa-May 3— 8r«amerOIympla. 2.895.
Savannah- To Bremen— M*y 2— auiamtr Cydonla, 4,765.
Oharleston- To Naplea— Miy 4— Bark Adele, 1,300.
Boston— To Liverpool -May I -Steamer Cephaionla, 1,054
Steamer Roman, 843.. ..May 5— Steamer CelumblaD,
Baltimoiib- To Liverpool— May d-Steamers Baltimore,
d.
Ibr.
H,
.
THE CHRONICLK
730
—
LlVBBPOOL. By cable from Liverpool we have the following
statement of the week's sales, stocks. &c., at that port.
ApHt
17. April
24
May
May 8
1
42.000
2.700
I.IOO
33.000
3.000
59.000
72.000
1,194.000 1,180.000
Total stoo!:—Estimated
Of which American— Estlm'd 94 3,000 931.000
4S.000
65,000
Total Import of the week
37,000
51,000
Of which American
1,199.000
Balea of the
week
41,000
1,700
5,600
34,000
6,000
C5,000
bales
Of which exporters took
Of which speculators took. .
Sales American
A.otnal export
Forwarded
Amonnt
.............
afloat
O' which American
....
3.4110
6,700
51,000
4.000
7(1,000
953,000
62.000
51 .000
165.000
145,000
180,000
150.OO0
160,0C0
120,0<'0
The tone of the Liverpool market for spots and futures each
day of the week ending May 6, and the daily closing pricet
of spot cotton, have been as follows:
Saturday
Spot.
Dull.
Vednet. Thund'y.
Tuetday.
Fair
bQBlnes)
Market, ?
P. M.5
1:45
Harden'K.
Fair
basineas
dOlDK.
Steady
Firm.
dolnjc.
4%
4%
Uld.Upl'ds.
Bales
500
Bpecifeexp.
41318
413,8
413,8
413,8
10,000
1,030
14.000
2,000
5,000
Friday.
14,000
1,500
10 000
10.000
1,000
1,000
[Vol. LII.
on that day, mainly No. 2 red winter at $1 13%® |1 143/ for
May and $106?^ for September. On Tuesday 120.0ii0 bushels
were taken— mostly No. 3 rt-d winter— it |l 14(^11 15 on the
spot and $1 11^ for next week. Bat the market then became
quieter. To-day the market weakened under adverse reports
fro n Paris, but at 8omf> reduction was quite active for export, the sales aggregating 144,OU0 bushels, mostly No. 3 red
winter, atfl ItM, f.o.b.
OAH-r OLosrao frioes of ho. 2 bed wnrrEs wiibat
SfU.
Hon,
T»te«,
Wed.
Theirs,
May delivery
109 14 1121a 111=8
o. llS^s
112
Junedelivery
o. 113%
110% 107 '8 110>» 109=8 109
July delivery
c. Ill's
lOS^ l"5«t 10>-»g 1073a
)07
Auitust delivery
IOJI4
c. lOi^s
101
106
105
10l>a
Sepremlierdelivery
lOlia 103
0.107
105 14 1C414
1031s
0-toberi1elivery
..
lot's
lO.-iig
0.
103
1031^
DeoMmber delivery
lOSii 101
0. 107S|i
106 <a 105%
10458
May '9^, delivery
0. lim
109>4 108
11038 10938
10d>a
iim
Indian corn has bean unsettled. Business in futurfls has
been at fluctuating prices. The cold weather in the North is
too early to injure corn, and further South the frosts were
not severe enough to do any harm. Shippers have taken
moderately for early arrival, but for imm-diate flelivery there
was only retail buying by the local trade. To-day there was
a decline in futures, under free off -rings, but spot corn waa
scarce and in a small way brought full piices.
DAILY OLOSINO PBIOBS OF HO. 2 MIXBD OORN.
Mon.
73
Sat.
May delivery
luturet.
Quiet at
Irreg. at
IJM de-
Market,
}
1:45 P. M.
1.64 de-
2-B4 ad-
5
ollne.
Steady.
vance.
Market,
4 P.M.
Steady.
QuleU
Finn.
Steady.
Barely
steady.
Qalet at
The opening, highest, lowest and closing prices o( futures at
Liverpool for each day are given below. Prices are on th e
bis'fl of Uplands, Low Middling clause, unless otherwise stated
py" The prices are given in pence and 6kth. Thus: 4 63 means
4 63-64d., and 5 01 means 5 l-64d.
:
Sat.,
May it.
'
Man..
May 4.
Toes..
am Low.
Open
Higtl
Low.
Clot.
Open
H(flh
Low.
Clot.
Open
A.
d.
d.
a.
It.
<l.
d.
i.
d.
d.
4 45
May
4 46
4 46
46
45
4 60
49
464
53
4 67 4 56
4 66" 4 56
4 46
4 46
4 50
4 54
4 67
4 66
4 60
4 50
460
450
4 51
4 54
4 67
4 55
458
4 62
4 62
4 55
4 59
4 60
4 60
4 61
4 61
4 62
4 61
4 66
4 6?
4 57
May-June.. 4 45
Jane.July... 4 49
July- Aug... 4 58
August.
...
May 3.
456
Aug.-Sept.. 4 56
September..
Bept..0ct... 4 56
OCt.-NOT.... 4 57
NoT.-Dec... 4 57
4 58
Dec. .J an
Jan.-Feb.... 4 61
56
67
58
59
4 61
4
4
4
4
4
4
4
4
468
4 61
d.
4 59
4 60
50
50
63
57
4 60
4 69
4 58
4 69
4 59
4 6S
4 59
4 60
4 60
4 69
467
169 460 4 60 460
460 4 61 460 4 81
4 61
4 62
4 63
5 01
4 61
460
4 62
4 63
6 01
4 61
4 82
4 68
4 69
4 61
460
464 464
4 57 458
4 60 460
4 50
4 61
500
4 62
5 01
4
4
4
4
4 81
5 00
4 62
6 01
4 51
dot.
d.
4 51
4 51
4 56
4 68
4 61
4 52
4 52
4 56
4 69
160
4 60
4 60
4 60
500
4 61
4 61
May
6.
Thnrs.,
Open
HloTl
Low.
Cloi.
il.
d.
i.
a.
(J.
4 52
4 52
4 51
4 63
May-June... 4 52
4 52
4 65
4 51
463
May
4 61
4 61
4 80
4 51
4 61
4 65
4 58
4 60
Aug.-8ept.. 460
September..
Sept.-Oct... 4 59
4 61
4 69
460
June-July...
456
July-Aug... 4 58 4 59
4 54
4 67
August
Oct.-NOT....
4«0
Nov.-Dec... 4 60
Dec. -J an
4 62
Jan.-Feb.... 5 00
....
4 60
4 60
4 61
4 62
500
....
4 59
4 59
4 60
4 61
4 63
4 69
480
4 60
4 61
500
May 7,
Open BlQh Low.
Clot.
d.
Fri.,
d.
4 66
4 69
4 62
4 61
4 62
4 61
4 62
Open High Low.
Wheat—
0.
6 01
Clot.
d.
454 4 52 453
4 61
4 54
4 57
4 62
4 55
4 53
4 51
4 52
4.',2
4 51
4 61
456
4 64
4 55
4
jvt
4 68
4 52
4 55
460
4 58
4 61
4,"S
4,"17
458
4 60
4 31
460
4 61
4 62
4 61
4 69
4 81
i!>9
4 81
4 62
4 62
482
4 59
4 62
4 61
4 62
4 57
4 82
4 60
4 61
4 61
4 61
4 59
4 60
4 61
4 6»
4 61
4 62
4 61
480
4 61
4 63
4 83
6 01
463
69
4 80
4 61
6 01
48S
4
d.
Pribat, May 8, 1891.
wheat flour was nearly at a standstill until
Thursday. In view of the rapid reduction in the prices of
wheat, buyers of flour either withdrew altogether or reduced their orders so much that it practically amounted to a
withdrawal. On Thursday, however, at some reduction in
prices, a good business was done, especially in the
products
of city mills. To-day the market for wheat flour was fairly
for
active, but at prices favoring buyers.
The wheat market was depressed—almost panicky— during
the first half of the week under review. The decline was
due
largely to improved prospects for the next cropneeded
raius having fallen in California, and the weather
in the
Northwest being quite favorable— causing free salts to realize
the late advance, and encourage the bears to put out large
Imts in anticipation of a further decline.
But tbe cold
weather on Wednesday, with sharp frosts in Northern latitudes, together with a report thit France is about to
abolish
or materially reduce her import duty on cereals,
brought in
buyers to cover contracts, and there was a sharp recoverv
but the advance was not maintained on Thursday. The business
wheat on the spot ana for early arrival for export
was very active on Monday, shippers taking 304,0(J0 bushels
m
Fri.
73
70
681*
6B%
6778
6
Western, Ac
Brandy wine.
:>0
3
30»
60
00
3
4
. .
1
05
•1
0,
Com, per bush.—
20
West'n mixed
W'n mix. N0.2
..1 11
1 00
1 05
»1 13
«1 17
87
90
80
84
80
92
95
«1
80
81
80
79
West'n yellow
western, per bash..
8tat« and Jersey ..
Westemwhlte
15
Barley, Western
Ganadliui
State
83
» 83
» 83
» 82
58ii9 61
59 » 70
59 « 60i«
60 o 62
Oats-Mlxed..V bu.
White
No. 2 mixed
No. 2 white
86
93
86
•
The movement of breadstulfa to market is indicated in the
itatement below, prepared by us from the figures of the New
first give the receipts at
York Produce Exchange.
Weel em lake and river ports, arranged so as to oresent the
comparative movement for the week ending Miy 3,1891
anr since ^.u^tut I, for each of the last three y^arsi
We
at—
Seeeipti
W)UM.
/low.
Com.
Barltv.
Oatf.
Bv.
j
BREADSTUFF S.
The market
TKh'S.
741a
Rye-
4 61
4 63
5 01
7218
681a
6638
460
4.19
4 61
4 62
5 01
Wed.
731a
7038
6838
67 '8
r«cj.
GRAIN,
Red wbiterNo. 2
Red winter
d.
603
5
Spring, per bosh.
8.
70
69ia
510*525
Siralghta
Patent, spring
4 82
d.
162
463
600 500
602 6 02
4 62
d.
May
691a
67 <«
67>e
66
67 "4
66
Oats have been variable and unsettled. They were only
moderately active on the spot and the speculation has not
shared in the activity of wheat and corn. The prospects are
for a good yield in the next crop.
DAII.r OLOSniO PKIOBS op ho. 2 MIXDD OAIB.
flat.
Mon.
Tuet.
Wed. Thurs.
Fri.
5<»i4
57i«
May delivery
58
57
o. 60
58
56I9
55%
56>«
June delivery
c. 57%
65
551*
58>4
55ia
Julydehvery
0. 67
5414
55%
55
Rye is quoted lower, but our figures are nearly nominaL
Barley i4 well held, but has a slow sale.
The following are closing quotations for wheat flour in
barreU. (Corresponding grades in sacks sell slightly below
these figures):
FLODB.
Pine
*5 309$5 75
9 bbl.fS 30914 00 Patent, winter
3P0a 4 40 City shipping, extras. 5 15 a 5 3»
auperflne
4 359 4 65 Rye flour, supeiUne.. 4 75 a 5 15
Extra, No. 2
4 70»4 90
Fine
Extra, No. 1
3 85»4 16
5 00a 5 20 Com mealClears
White
Wed.,
7514
71ia
o.
c.
0.
c.
Jdne delivery
July delivery
August delivery
partially
l.«4 dec.
vance.
Steady.
Firm at
244 ad
cline.
Firm at
Bblt.l9<\lb> B^Ill.60B»|Ba^^.5«l^.
Jhioago
gtSJS
MUwankea..
Ooluth
57,914
..
.
Bu«^.4SI^
213,924'
1,436,632
97.671
12,760
85,000
24,3'JO
6,030
59.56J
85,533
179,790
270.OOJ
703
1,092.600
1 18,72
103,432
134 692
21.7-18
1|
Peoria
ToUirfei.
Same wk.'90
Same wk.'89
/I '10.
S*!
1
40 840
14 215
S0>
8.435
1S,539
17,015
87,140'
33 079
.
3t. Louis...
Bu.
285,655
..
4,800'
aieveland.
?«ne«
lh>
1.87ii.628
2.323
Minneapolis.
Toledo
Detroit..
149 142
Buih.32
93.738
51.000
200187,
2,226.812
2,963.797
193.1471
1.743.738
3.339,713
8.134.897
«,507.75J
3-.i3,83C
801.781
1,8.'S5,06)
1,743,885
207,895
154,093
32.9St
80,S,5SO
3)7.6)0
1<
8,354
8,200
1.300
4.81
153.04-2
60.951
156,439
81,
ni
:
1
1
3 839.008
1H90.H1.
...
8,325 OlS
93,556 8171 72.8'!9 5ll
71.-731.-92
188U-90.
..
9,081.02"! 101.631.219 136.969,153
37,212 209
27.833.759
23.7ia,6S8
5.12
ISSJ'-sa
.
7,261 6J1' 77,063.974
91,141.919
63,439,877
23.991,593
4,3.<2
1,4 !4
51l
The exports from the several seaboard ports for the w. efc
ending May 2, 1891, are shown in the annexed statemen"
Exports
Wheat.
from—
Sew York
Boston...
Portland
Com.
Bifh.
288.:ni
27.498
9,376
Buth.
118,077
56,632
S. Orl'ns.
S.News..
SUchm'd
9.900
47^32
33,39 j
24,000
Oats.
Rye.
Bftl:
Bu>h.
Bush.
89 981
37,911
2,971
500
314
VIontrcal.
Phlladel
Baltlm're
eiotir.
33,224'
80,3061
25,390
8,110
4.286
52,397
......
Feat.
Sutn.
5,412
2 2" 102
16,240
473
63,593
.
rot. week.
3'me time
1890...
323,529
257,065'
280,40el
290,455
43,751
3.471
615,293 3,091,269
430,015
146,373
27,919
May
THE CHKONICLR
0, 1891.]
The visible supply of Krata, curuprLsing thoHtookHiaifruriiir
at the principal points of aocumulatioa at lake and seaboard
May
pjrts,
2.
1891:
Whtat,
In itore a<—
Oom,
200,601
BalTikln
Canal, afloat...
CtaiuKKu
Mllwitnkee
lO.SiK)
395.570
61.0 >0
5.424,280
213,466
63,50J
33.799
),117,681
705.806
7,l>55
9t<3
5,065,1«:4
171
85 209
13,840
59,8.0
Detrott.
Do afloat
LoulR
»fl(at
Cluulnnaii
Boiitnn
Toronto
Montreal
PhllatlHlpbla
Peorln
InillHnaiiolta
KanBBH < Ity
BiiilliuorB
MinueaiHillB
On MlHHtHBlppl...
..t
40,844
river.
30,000
477,405
156.700
7.000
2.319
1P6.609
690.328
33,u54
31,083
57.022
165.662
138,086
5,6Sj,055
1,513,133
7,800
98.072
8,673
6,808
26308
202
io",**'
12.029
2,934
'i9,*I6
8,296
36'.82'7
49,879
96,162
3,383
10.460
26.000
5.000
59,960
9.^,996
60.867
239.919
96.391
127.606
8,104
54 333
73,576
2,000
33,750
78,459
5.0<
29,710
10t(.151
314
96,640
931.177
24,900
lat^lv reduce! ^0. mr T«rd,
from Monday nPEt. Btoou of
leading makes of both brown and bleached go.xis are not regarded aa excesfiive, but ic is believrd ihtt certain a<enl«8 ar
carrying nrefy heavy line* In some leas favorvd etyiea. Oo^
ton flannels, flannelettes, silesiaa. corset jtana, widn •beetiage
and colored cottons, snoh as dnniins, ti^iks, cheviots, Ac.,
were all without pvrticular feature. Prints at firxt hands
were slow, but by the aid of drives in Cocheco CastUion
chintz s Ht 7^0, per yard, Allen shirting prints at 8^0. par
yar<l, and other atylrs at low prices jo^bnrs effected a considerable clearance. Omghams and wash fabrics were slmtlaHy
Cabot
4-4 bleaohel
will be
advanced
ilMd by Providence manuraoturers. 417,000
Pall Rtver iDHntifaocuren
273,000
1.S2S
13,636
ProTldcnco apeoiil itora
Uaisldeapeoulatura (eat)...
69.700
489,613
30,200
3,124,700 2.838,822
2,<64,4 2 :£.622.358
88,200
426,520
428.778
990.521
592,843
767,114
830,767
73.1 03 ^
749,418
l,430.22i
259,281
THE DRY GOODS TRADE.
New Yorb, Friday P. H., May 8. 1891.
The unseasonably cold weather with which this month bas
opened had a bad effect on business at first hands during the
past week, and has clea'ly shown how very sensitive the demand is just now to any depressing influence. Under the
stimulation of several weeks of fine warm weather the local
and out-of-town jobbers and retailers were just beginning to
throw off some of the timidity which bas so long characterized their actions, and prospects at the close of last week
seemed good for a etfadily-increasiog business. A few cold
days were sufficient to put quite another complexion on
matters, and, taking the week through, the aggregats trade
has been disappointingly small. To outward appearance it
was a thoroughly inactive market, few buyers being in it at
any time and the demand being almost entirely advanced through the medium of mail orders.
The
check is loobed upon as temporary only, reports
South
from all
sections
but
the
showing that
a vt-ry considerable disiribution of spring and summer
fabrics has been made so far, and that the movement will
undoubtedly b» resumed in force just so soon as more favorable climatic conrliiions attain prevail. Agents generally call
the market steady in spite of its dulness. In so far as leaving current quotations unchanged they are correct, but that
there are weak spots here and there is evident Irom the fact
that jobbf-rs have been able to secure lines of both prints and
wash fabrics at prices low enough to admit of attractive
"drives" being made. The jobbing trade has in fact owed
the greater part of the week's busiotss to just such attractions, regular store trade being of a very ordinary character.
Agents and jobbers report collections in tolerably good
shape and quite equal to the average experience at this time
of the year, little trouble being exptrienced outside of the
cotton States, where accounts are still being settled slowly.
Nbw Tobx
to
May
Ureat Britain
Other European
.......
. . .......... ....
China ..
110
53
760
1,883
651
53.315
102
294
India
13
7t9
..
Africa
We«t
4.319
3.257
l,6i7
4,-43
1,190
2.839
11,040
2
Arabia
Indlefl
..............
Mexico...
Other ooontrlea. ...... .......
"ii
65
23
275
VO
700
339
•
434,000
I'i
§
sE
g:
:
:
:
i
8:
g:
:
:
:
:
:
o
,
:
0»»
;
:
:
:
r
01
e;
?.
e:
g=
g:
B:
3.
g
r
|s'|i|
iff
:
:
:
i
:
:
:
t
:
!
e
S
e
•liiiT
0iC0»O*3
eo^co
COOD
C;«tCi^COA
Or-
00:00' en-*
to«
to to
coo
obi
coo
»-*
O
MM
wto
"toik
CI "O
00
cop
M
ceo
•sJUOOi^OO
oca.'
M >^ x ^1
M
cc
oojytosw
o*^ V.'coio
cocoi^»oc;i
ou MCCM^O
)
1,938
HMWMCSI
MH-^
Omw X 03
to
<»'-'
696
CO
9,7"'6
'OW' Ol-iois'-l
coa ggtcMco
1,276
3 072
en
r- to
W C" »
Qoc;*ao •'b*
MAX03D
I
6,823
t'43
1,962
11,9)4
1,210
1
00
t
*JM
00
^ Ma
ooo«orwo
o o CO ^
aoc;<v]ox)«
7-.
ccto^i»«»
-5lib
CO
#.Mc:ooa
acauuu
1(.01UI~10>
f* :0
*.
QD
w
«*jjo:ojD
Total
OUna, via Vanoonver
Total
*
1,423
2.273
l^,t!55
1,423
From New Enxland nlU
85.593
98,448
2,273
43.0S4
11,058
made on account
quiet
call,
00tf«0D_J"Oi
of back orders.
Bleached shirtings were in
but piice indications w«re not unfavoiable, as
ler-
'toV
cc
*4
45,650 56.283
56.597 85,480
M
W
75.4S9
» p- 00 Ot
I
I
-0DC;l'k^^
M^tJ|».tO
CO
points direct.
o,a>g.«oo
<0
Ot
10.711 14.699
6,280 9.894 5,833
OD
W
O
'
VWMMP
2:3
COM
aow
via
t
bo
,
^i-
5>f
Hoatooii-
g 1%
54,142
The value of the New York exports since January 1 have
been t4,529,4eo in 1891, against |2,.'5l3.8r)3 in 1890.
For 8t*ple cotton gcods there was a modified demand and
in the aggregate only a very mooerate business refortt-d.
Brown ch>etiDg8 and drills were in likht current request for
either home or export purposes, but fair rhipraeuts were
5f
•
OS
•
5 III
to 14
3,6.'>9
192
36
109
552
50
84,000
§,
being to the
Week. Binee Jan.
25.000
None.
5,000
—
5.
1.
None.
8,000
grade goods as doeskins, Kentucky jeans anisa<in>-t8 only
brst makes came in for attention. No great impetus has
been imparted to fltnnels as yet by the abandonment of the
auctions, and blankets were slow throughout. Soft wool and
worsted dress goods were quiet, but prices ruled firm, an(i
agents appear to have the impression that some advance
before fall orders are all through is not improbable.
FOREION Dry Goods. Only a moderate amount of business has been reported this week, cold weather checkino;
buyers. Staple goods are generally reported fairly light in
sock and steady, but, as in the domestic market, jobbers and
leading retailers have managed to secure several lines of
th-se at considerable conceHsions in price. Fancies and
novelties were slow and irregular. A large auction sale of
hosiery, &c., attracted attention on Wednesdav, the goods
moving off at about 20 per cent under market prices.
Importatlona of Drr Goo4a.
The importations of dry goods at this port for the week
ending May 7, 1891, and since Jan. 1, and the same facta
for the corresponding periods of last year are as follows:
1890.
Week. Since Jan.
54,000
S2.<)00
693,<X>0
Total atook (pieces)
—
1891.
37t,000
None.
5,000
DOMKSTio WooLBN OooDS.— The most interesting news in
this department was the announcement by the several agents
concerned that they would hold no flannel auction 4 this season. The information has been generally welcomeil by the
woolen trade here, as it removes an element of uncertainty
which in previous years has been found difHcult to gauge.
Apart from tbis, the woolen department has been without
practical change. The spot demand for men's- wear woolen
and worsted suitings and trouseriuita was light and the duplicating demand hesitating, and bu-iu>-8s in overcoatings was
confined to staple lines in ml tons, beavers and kerssys.
Cluakings and stockinets were neglected, and in such low-
DOKBBTIO COTTON GOODS. The exports of cotton goods
from mis port for the week ending May 5 were 1,423
packages, valued at |90,104, their destination
points specified in the table below:
shirtings,
2^ per cent
circumstanced, drivea at 8^ ;. in several styles of fine dreae
ginghams being the only feature of interest. Print cloths
h ire dra/ged along during the week without further change.
There wero bids from lim-< to time for small lot4 of 61x618 at
3^0. per yard, but no purchases effected, sellers still quoting
2 J 5 16c., less one per cent; SOzOOs are quoted at 2)^c.
1891.
1H90
1889
Block Of Print aiotht—
Jfay'2.
Miyi.
Itav'i.
1.4113
3. -90. -^S.iftCSits* r2.8S!).9J.i 3.734.;05
4. >9. 2 s, 270.734 12 llS.Xtil 7,143. i;J8
5, '88. 31,317,3^0 9,4J6,671 4,08:^,012
May
'i7.V6i
"7V183
111,128
2.7.236
Tot May
2. '91. 21.063.343
Toi. Apr. 2a,'91.22,343.5r>2
May
62,811
218.078
66,660
40,066
Tot Mar
Tot.
Tut.
6imA.
9,000
76,986
2ii,017
OaweKO
On LnkPH
Ou vHUtti
^^.
1,8-.^S
451.340
150.654
Dulnth
Toledo
Do
523.253
7,5
AllMuiy
Bl.
OttU,
113.415
frtuk.
Rew York
731
I
•oxc'"--^
o
I
»>*ioaco:o
c^:^wo
-1
I
OiCOAOO
eaiocdcp'cd
I
';3*«*M-r-i
QtiJt M X>Cli
I
ODCDX^M
THE CHRONICLE.
732
Cotton.
QPotton.
&
Woodward
[Vol. LH.
^itmucial.
Waller
Stillman,
INMAN, S W ANN& Co W.
MERCHANTS
T.
Hatch,
Benmi rreteott Hatch,
Arthur Melvin Hatch
Members of N. K. stock and Produce Exchanses.
14 Nassau Street,
22 WILLIAM STREET,
TO
46
COTTON MERCHANTS,
NETT ¥ORK.
New
fork.
&
T. Hatch
New
Sons,
York.
Dealers In Investment stocks and bonds.
Personal attention given at the N. Y. Stock Exobarige for the purchase and sale on commission of
stocks and bond, for cash or on margin.
Interest allowed on deposits, subject to draft at
sight.
OOTTON OF ALL GRADES SUITABLE TO
WANTS OF AMERICAN BFINKEBS.
MHMAS DUKB » 00
IiIBMAJT.SnSNftCO,
Maw
Monwomery. AU.
Oriwuu, La.
LEHMAN
BROS.,
conanssioN bierchants,
&
Co.,
32 William Street, New York.
HXBCUTB ORDERS FOR FDTURB DBLITBET
F.
COTTOM
NBW YORK, LIVBRPOOL AND NEW ORLEANS COTTON BXCUANGBS. Also Orders for
No. 40 Exchawre Place,
INETV
Henry Hentz
COMMISSION MERCHANTS,
COFFEE
NBW YORK COFFBB EXCHANaB. and
CiRAlN AJiD PRO\l»tlOI^S
COTTON, COrTBB
I IMBBBB or TBK STOCK,
at the NBW YORK PRODDCB BXCBANOB and
AND PRODDCB HZCHANOBB.
the CHICAGO BOARD OF TaADB.
Co.,
BANKERS AND BROKERS'
at the
YORK.
&
H. Prince
BOSTON, MASS.
at the
COKBISPONnHHTa
NIW TOBK.
Ordan tzMntad on th« ibore Bzohansaa m
well
M in New Orleana, Cbloago and foreign markets.
Crenshaw
&
Wisner,
* 18 BzcbanK* Place, Jitvr Torh
connissiojy sierchants,
16
ttemixn of the Cotton, Coffee and Prodaoe
CO.,
KICHMOND, VA.
standard Brandt of Flonr for Bblpment to
CUmatei always on hand.
WsiB
OBIENT MANUFACl URINft CO,
NEW YORK
exeented In
COFFEE
el
and
Fatara
ler
CWTTON exeeated In NEW
Y ORK, NEW ORLEANS and LIVERPOOL
COTTON. COTTONSEED
COTTON BXCHANQB BUILDINO,
NEW YORK.
Co.,
Sit.
&
Co.,
NORFOLK, VA«
Cattan Exehanie Bnlldlnc.
Special attention given to the sale of Cotton to
arrive or In transit for both foreign and domestic
markets. Orders executed for the purchase and
sale of Cotton for Future Delivery.
NEW TOKK
SvitaTU C. Hopkins.
Ohiuies D. MUlar.
Lnelas Hopkins Bmlth«
Samuel Hopkins.
Schroeder
Baeoessorsto
WABB
&
rail. &I>EI.PHIA.
Refers by permission to
The City National Bank, Selma, Alabama.
Phenlx National Bank, IS Wall Street, New York
J. C. Graham A Co., Cotton Exchange, New York
American National Bank, Nashville, Tennessee
Alabama National Bank, Birmingham, Alabama.
CORRESPONDENCE INVITED.
LmBpooL
COTTON EXCHANGE BUILDING
NEW YORK.
Orders for future dellrery of Cotton executed In
Geo. Copeland
Mew Torkand LlTerpool; also f ur ttraln and ProNew York and Chicago, and Coffee In
Saw York.
COHMISSeiON MERCHANTS,
IT
Street,
LIVBRPOOI.,
Raeelre conBlKnmentfl of Cotton and other prodQoe and execute order, at the KxctaauKes in LlrercooU Kepresented In New Tork at the office of
SAM'L
311
BABCOCK,
Kaaaaa Htreat. Mew Vark.
D.
PKARL STREET.
Co.,
American Exchange Bank,
.
NEW^ YORK.
&
>
BUXINe AOIHTB roB Lkadiso Bkaitbs
SROWM and BLEACUED 8HIUTINCii
and HIlEETINGti.
PRINTS, DBNIMB. TICKS. DUCKS, *0.
-Vawala, ((nllta. White Geods and Healarr
DnUt, SKeelingi, <•« for Export Trade,
ST. LOUIS,
Capital,
-
The American
Manufacturing Company
Offices^ 112 W^alniit St., St. Louis, HIo.
< 16 dc 18 Exchange Place, N. Y.
THE LABGB8T WORKEKS OP FIBRE IN THE WORLD.
CORDAGE
AND OF
BAGGING FOR COTTON.
In addition to mills at St. Louis and Charleston
have Just completed at Greenpolnt, BrojSlyn, the
larKest, best equipped and best located
CORDAOE
AND
BAGGIKO niEL.
IN
ANY COUNTRY.
no.
SiSOO.OOO Surplns,
I
PBTBR NICHOLSON,
Munufaeturers of
Bliss, Fabyan
Co.,
KW YORK, BOI^TON. PHILADELPHIA
All grades of cotton suitable to spinners'
wants offered on favorable terms.
&
OOITO^ BROKEBB,
184
Wxar
CO.
and
NORFOLK, VA.
OOTTON, COFFBB, GRAIN, PROVISIONS,
STOCKS and PETROLEUM.
Orders executed In New York, Chicago and Llv
erpool.
Tltlons In
B.F.BABCOCK&CO.,
4c
Co.,
COTTON EXCHANGE, NEW YORK,
ooBBiapoKSBxra,
FREDERIC ZEREOA
&
Rountree
COMMISSION MERCHANTS,
A BCHROBDBR,
connissiuN merchants,
N. Rankin.
William P. Parrish,
85 Wall Street, New York.
Geo.H.McFadden&Bro.
Co.,
York.
thbodobx BAU>wm,
ALTRKD
OOTTON UEROHANTB,
Gi
New
Southern InTestments and Securities.
Cotton Brokers and Gemmitsion Jferehantt.
Liberal advances made on Cotton conslRnnents.
COMMISSION MERCHANTS,
il«M>
Reid
Price,
OIL,
secTHEiiN produce:
18 Wall Street,
Transact a general banking business. Including
the purchase and sale on commlsHloii of securities
dealt In at the New York Stock b:xchange.
Co.,
Ain>
&
Trask & Co.,
BAJVKERS AND BROKERS,
WAtiiAiro Tbabk,
&
Hubbard, Price
from Arsenle.
Hopkins, Dwight
Wayh
land
Delivery el
I.
Pyrites, free
New York and Boston Stock Bxchangae
NEW YORK.
or VIBGINIA.
HIsh arade
of
COTTON EXCHANGE BVILDINe,
Standard Superphosphates.
SULPHUR MINES COMPANI
Member*
& Co.,
Mohr, Hanemann
Ordera ler Fntnre DellverT
THE HAXALL CRENSHAW
L.
Messrs. Smith, Edwards A Co., Cotton Brokers,
Liverpool,
Jaa. Lea McLean A Co., New Orleans.
Bzcli'i
AQBNCT OF
ORIBNT.
HIGH eRADE INTESTMENT8,
WALKER
Correspondent
Fifth
S'^93,00e
HILL, Cashier
Write for terms.
Collections solicited.
New York
-
President.
:
Bank of N.
Y., N. B.
jl.
Avenue Hotel,
ITIadlaon Square, NB'W YORK.]
The largest, best-appointed and most liberally
managed hotel in the city, with the most centra
and delightful location.
HITCHCOCK. DARLING A GO
Massasoit House,
SPRINGFIELD, MASS.
THE BEST-APPOINTBD HOUSE IN WBSTBEN
NBW KNGLA^D.
Convenient for the tourist or business man. Nea
UnlonlDepot.
r
W. B. OBAPIN,
1
@FedFRASER