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HUNT'S
*
MERCHANTS’
MAGAZINE,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED
STATES.
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VOL. 27.
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SATURDAY, NOVEMBER 16, 1878.
CONTENTS.
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NO. 699.
The
Secretary of the Treasury has two funds;—first is
redemption fund derived from the sale of bonds ; this
may be further added to, January 1st, by the substitution
the
THE CHRONICLE.
How it Will Work
497 Latest Monetary and Commercial
Government and the Sugar Ques¬
English News
506
tion
493 Commercial
and Miscellaneous
Ellison & co.’s Annual Review of
News..;
508
the Cotton Trade for the Season
of 1877-78
499
THE
BANKERS’
Money Market, U. S. Securities,
Railway Stocks, Gold Market,
Foreign Exchange, N. Y. City
GAZETTE.
Quotations of Stocks and Bonds.. 512
,
Investments, and State, City and
Corporation Finances...
513
Banks, Boston Banks, etc..
509
THE COMMERCIAL TIMES.
Commercial Epitome
516 I Dry Goods
516 Imports, Receipts
520
Cotton
Breadstuffs
621
and Exports.
..
122
Chronicle.
The Commercial
and
Financial Chronicle is issued
day morning, with the latest
news up
on
Satur¬
to midnight of Friday.
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office.
HOW IT WILL
WORK.
The action of the banks the
past week has placed the
country in harmony with the
Treasury in its resumption efforts. Under existing laws,
nothing more can be done to ensure a successful issue.
We have simply to await the result.
Increased confidence
-is generally felt; the elections first and
largely contributed
to this, but the present action of the banks has
confirmed
and strengthened it.
Thus we are brought face to face
with the practical question—how will all this
work, how will
the new forces put in operation act ? With the
premium
commercial
interest of the
gold at only one-eighth of one per cent, we may per¬
haps put too slight an estimate upon the process of abso¬
lute restoration, for the change even from this low
premium
is a radical one, by no means to be
completed in a day.
‘Fiat resumption is not practical
resumption. Up to this
time we have only been
building, repairing, connecting,
adjuit’.’j the machinery. Impart motion to it—-and what
on
then?
of
greenbacks for coin certificates. Second, is the fund
receipts from customs duties, internal
taxes, &c., provided for by Congress, and made to equal
and not to exceed the
appropriations or ordinary expenses
or
outgoes of the government. Of course, the latter can¬
not take any part
in the redemption of the notes ; it comes
in and goes out in
equal amounts—a little ocean current
in no wise
helping or affecting the greater movement.
With the first of
January then the redemption fund becomes
a fixed
quantity, and after that time can be added to only
in two ways—one by
purchasing gold in the market with
the redeemed greenbacks
; two, by selling more bonds for
gold. We are not, for the moment, considering or affirming
anything with regard to the policy or feasibility of either
of these processes.
It is simply necessary to remember
now that
they are the resources and the only resources the
government has for replenishing its redemption fund.
Many appear to think that resumption is but a senti¬
ment ; that
seeing the gold in the Treasury is possessing it.
This is so only to the extent that the
gold is not actually
needed and the feeling exists that it can be obtained when¬
derived from the
ever
one
wanted.
Let
a
merchant know that he
thousand dollars in
gold in Chicago
and that it is uncertain whether he
needed without
on a
it
can secure
must
have
given day,
the day
on
coming himself or sending his greenbacks
Washington, and he will send them at
once and make the
exchange. It is of no moment to him
whether there is 50 per cent or 100
per cent of the out¬
standing issues in specie in the government vaults ; what
he wants is actual gold in
Chicago, and the fact that it is
in the
Sub-Treasury in large amounts does not decrease the
necessity for his making, provision beforehand for it. This
illustration suggests one process—-and, may we not say the
great process—which- resumption must put in motion.
Commerce is carried on through the banks. We all have
our deposits there
; all our notes are payable there ; and
through them we liquidate all our indebtedness. If we
require gold we do not expect to go to the ’Sub-Treasury for
it ; we expect our banks to be in a
position to furnish it on
our check as
freely and as readily as they would their own
notes.
That is resumption, and nothing else is.
And not
until the merchant in Portland, iif
Chicago, in New Orleans,
or in
any other city, feels that all he has to do is to draw
his check on his bank and ask for the
gold any day he
needs it, is resumption completed.
Absolute confidence in
the ability thus to respond to our wants, is what is neces¬
sary, and what will be required.
This statement helps us
to understand the nature and
meaning of the action of the
to New York
or
498
THE
CHRONICLE.
New York banks the
past week. They give notice that
on January 1 all their
special gold deposits will be special
no longer,
simply because at that date they will pay to any
depositor, as his need may be, either gold or legal tenders,
or bank
notes; and this being the position which every bank
must reach, a tendency
among all of them will be developed
[vol. xxvn.
the system which we suppose Mr. Sherman
vised for
meeting this
originally de¬
contingency is still in existence
perfect reliance: that is, the authority to sell more
bonds whenever it may become
There need be
necessary.
no fear,
therefore, as the gold balance drops, and can be
none, for when desired it may be replenished at the shortest
to accumulate a specie reserve, so that each
may supply the possible notice, and especially will this process be an easy
wants of its own locality.
Of course the commercial cen¬ one, as the success of the resumption effort becomes the
tres, where a demand constantly exists for gold for busi¬ more assured.
ness
purposes, will be foremost in effecting this change,
The outstanding greenbacks then will
quietly and slowly
and there would seem to be no reason
why, eventually? pass into the Treasury as described, while the gold at the
banks in such places should find it to their
advantage to same time passes out, taking their place; the notes being
hold any considerable amount in greenbacks.
But passing in, must stay there, for there is no provision made for
this point, it is evident that the conditions referred to will
getting them rout.
They are absolutely imprisoned,
prevent resumption from being a mere sentiment; on the “bottled up,” and will never circulate
again. But. says
contrary, there must be a steady drain through the banks the objector, the act of 1868 forbids their
destruction, and
upon the government hoards, the wants of commerce contemplates, if it does not
provide for, their re-issue. We
forcing the gold out of its present hiding place into those admit all that—and yet if the execution of the spirit of
avenues where it can be used for its
that act should be attempted, it will
purposes.
only illustrate again the
Such is the nature of the movement which the first of old
proverb that you can bring the horse to the water, but
January will set in motion. Some, very likely, may object you cannot make him drink. For let the commercial
to this view, claiming that as
the people like and have con¬ classes of this country be once fairly rid of those
legal
fidence in greenbacks they will retain them in use.
We tenders—as we are sure to be under the
operation of the
reply that the process we have so briefly described is not statute as it now stands—and there does not exist
power
an instantaneous
change—it is merely an existing tendency enough in Congress to force those government notes
upon
which the laws of trade will gradually force into
greater us again. California never adopted them ; and soon now
activity. Banks are the people’s instrument for their daily the rest of the country proposes to proclaim its freedom.
work, and in acting as such, gold can perform every function
that the legal tender can, and some others; hence, as time GO VERNMENT AND THE SUGAR
QUESTION
goes on, the former must, to an ever increasing extent, dis¬
During the last year or two, rumors have been generally
place the latter in their reserves. And again, we must eurrent of frauds in the collection of the revenue from
remember that in this country, where banks are so
general, sugars, and for some months past these rumors have
greenbacks cannot long remain in circulation, except so far assumed such shape as to establish beyond a doubt the fact
as they are paid out
by the banks on checks; that is to say, that gross frauds have been perpetrated.
The methods by which it is claimed that these frauds
they must be constantly received on deposit, and there¬
fore constantly passed out again.
In thus repeatedly going have been committed, are already familiar to all newspaper
over
their counters, more and more of them -will be readers, and
may be classified under two heads.
retained to replenish reserves depleted by payments of
First—Under classification of
gold
sugars, by drawing sam¬
and for other evident reasons and purposes.
Hence it ples *from the “ foots'” of the casks (where the drainings
will not be a question of preference among the people, even
collect), and thus lowering the apparent quality of the
did such preference exist, which we deny, but the quiet sugars
under appraisement, to bring them in at a lower
action of laws beyond human control.
rate of duty than they by
right should pay.
At first thought this view may suggest cause for anxiety
Second—Collusion with the Custom House
weighers,
on account of the
decrease which must follow in the whereby less weight of sugar is returned than is
actually
Treasury redemption fund as it passes into the channels of imported.
We
need, however, feel no distrust at that
movement; or, in fact, at any other step in the process, if it
is allowed to develop naturally, without interference at
Washington or elsewhere. The system promises to work*
without friction, bringing the country slowly and quietly, but
effectually, up to the specie-paying condition, and at the
same time putting the
government once more, and we hope
and believe forever, out of the
currency-making business.
Let us follow its workings then a very little further.
As we have already intimated, the government has the
power, if it desires, to replenish its decreasing redemption
fund in two ways.
The first of these—the purchase of
gold with redeemed greenbacks—we have stated above,
simply because w’e learn that it has been suggested at
Washington as a resource. It will however never be
used, for the single reason, if for no other, that it would
not be effectual.
When greenbacks go into the
Treasury
i n the manner we have
suggested, and to the extent sup¬
posed, it will be because the gold is preferred and needed
and an attempt to purchase back the gold with them would
only put them at a discount in the market, and create distrust
at once; and this would lead to their
being crowded upon the
government, with the result which is so evident that it is
not necessary for us to take time to describe it.
Besides,
commerce.
and
very
a
These
methods, which have hitherto proved so efficacious
depriving the Government of many millions of revenue,
and in enriching the parties who have availed of
them, are
to a certain extent open to both
importers and importing
the
refiners, but
latter have had the immense advantage of
receiving their. cargoes at their own refineries, where,
within twenty-four hours from the arrival of the
vessel,
the sugars could be dumped into the
boiling vats, thus ren¬
dering all identification impossible; whilst the merchant
importer is obliged to land his cargoes at public bonded
stores, where they remain for days subject to re-examina¬
tion by the customs officers and to
consequent exposure.
While the detection and punishment of such frauds are
in the province of the Government
alone, which no doubt
will do its duty in the premises, there is one
question that
must come .home to
every honest man in the land, and that
is, how can these dishonest practices, which are slowly but'
surely sapping the morals and integrity of the trade, be
most efficiently prevented in the future ?
The answer is plain and practical.
First—By levying one uniform rate of duty on all
grades of sugar up to No. 16 D/S., and another and higher
rate on all sugars above No. 16.
This would do away
with an army of samplers, examiners and
appraisers;
in
November 16,
THE CHRONICLE.
1878.]
499
reduce the expense of collection and render
frauds by under-classification.
impossible all low-grade refined, but in reality adulterated trash
(as
shown by testimony taken
by
Fernando
Hon.
Wood
at the
Second.—The most efficient mode of
curtailing deceit New York Custom House, September 17 & 18,
1878), now'
amongst men is assuredly to assimilate as much as
forced
possible
the interests of
,
contending parties; therefore let the Gov¬
ernment weigh the
sugars, not on landing, as is now done,
but when they are withdrawn for
consumption, establis hing
of course a maximum time limit for such
withdrawal; and
furthermore, let the Government adopt the same rates of
tare for the empty
packages as have already been estab¬
lished by experience and custom
amongst buyers and sellers
of sugar.
This would, in the matter of weights, greatly
the
upon
that
or
poor consumer,
nothing.
There
are
not
wanting indications that the parties impli¬
cated in the abuses referred
able to carry out their own
action
who must perforce eat
by Congress at its
to, will, in default of being
views, endeavor to stifle all
next session and to retain the
present tariff on sugar, thus securing to themselves
continuation of the illegal benefits which
derived under the
a
they have hitherto
It
is, however, difficult to believe
parties in the that our Representatives in Congress can be so blind to the
sugar import trade, viz., the Government, the seller, and interests of the
people, whose protectors they are, as to
the purchaser; and would enable and
encourage the latter retain in force, for one
day longer than is absolutely
two to carry on their transactions on Government
returns, unavoidable, a tariff so wrong and so
unjust in its effects.
thus saving some expense in the
way of weighers’ and
assimilate the interests of the three distinct
laborers’ salaries.
But
even
if dealers did not
agree
to
buy and sell by Custom House weights, the Government
would still have a close check on its
weighers, inasmuch
as the
sugars, being weighed both by the Government and
the importer within a short period, the
respective weights
should vary but little, if at all, no material loss
being
ELLISON &
same.
CO:S ANNUAL REVIEW OP THE
COTTON TRADE FOR THE SEASON 1877-8.
[CONDUCTED BY THOMAS ELLISON.]
The past season has been
ableness
to
the cotton
period of unprecedented unprofit¬
industry—a period of unsatisfied longings
a
for
improvement, continually increasing depression, and everpossible in so short a time.
recurring disappointments. Although the aggregate out-turn of
If it is argued that by the
proposed plan the Govern,
cotton goods during the season was less
ment would lose the revenue in the
than in either of the
possible difference
two
previous
seasons, the rate of production was
between the weight in arrival and that in
constantly
withdrawal, anc
greater than the rate of consumption, owing to the
in that between the actual
impoverish¬
weight of the empty packages
ment of consumers
as compared
throughout
the
world;—in the great East, in
to the customary rates of tare, it can easily be
consequence of famines and bad trade, and in Europe,
demonstrated that this loss would be
owing to a
compensated by the
succession of deficient harvests, to the after results of
check in fraud and consequent
the finan¬
greater accuracy in the
cial and commercial disasters of 1873 and
returns, and by the fact that a uniform rate of duty in all
succeeding years and
ihe hindrance to renewed
sugars up to No. 16 D. S. in color, would call for the to
prosperity occasioned by political
production abroad of a better class of raw sugar, containing disquietude. But whereas the supply of goods was constantly
ahead of demand, the demand for the raw material
much less molasses and subject to little
was
drainage as com¬
constantly
ahead
of
pared to the low-grade sugars generated by the present
supply. This is proved by the fact that, at
the
close
of
the
season, the stocks of goods were
discriminating tariff; while the better class of sugars, being
considerably
much lighter in weight, would
naturally also show little or larger, while the stocks of cotton w^re considerably smaller than
no difference between actual and
customary tare. But if they were twelve months previously, Except in the case of a
in spite of these considerations, it is still
thought of few specialties, therefore, the margin betwee . the price of the
sufficient importance, this difference could be taken into manufactured article and the cod of the raw material became
account in determining the rate of
one of loss, inste. d of one of
duty to be imposed.
profit.
Third—To avoid, to the fullest extent, the
On
the
Continent
tLis
umati factory state
chances and
of things is
temptations to fraud, which naturally flow from the privi¬ attributed, in part, to over-production in England, and the
lege enjoyed by the refiners, of landing their importations excessive shipments of Lancashire yarns and goods to Conti¬
at their own private docks or
stores, to be there sampled nental markets. But this cannot be so, inasmuch as the
and weighed by the Government officials
aiuLgubsequently cjnsumption of cotton in England, and the exports of yarns and
made to disappear in the boiling vats within'« short num¬
goods to the Continent la>t season, were less than in any of
ber of hours, let the Government establish the invariable
previous five seasons, while the consumption of cotton on the
rule that all sugars, whether
imported by merchants or Continent has gone on increasing from year to year. If there
refiners, be first landed at a public bonded dock or ware¬ has been any over-producti n, therefore, it has been on the
house, and there retained in the custody of the Custom Continent, and notin Great Britain. The
power of consumption
House officials until properly examined and
on the Continent has been lessened,
weighed.
owing to bad times; but the
The rate of duty to be levied on this
article, must be rate of production has been kept up. This is the real cause of
the congestion of stocks, and not English competition.
left to the wisdom of our Representatives in
Congress, to
COURSE OF THE MARKET, OCT. 1, 1877, TO OCT.
1, 1878.
be by them decided in accordance with the needs of the
Between the middle of July and far on into August, last
year,
country; but the foregoing changes are imperatively the market was for the most
part dull and inactive under the
demanded, if the Government is to collect its full revenues influence of unsettled fore:gn politics, unfavorable harvest
.
and honest dealers
to be
protected from the rapacity accounts from India and C ina, depression in Manchester, shortof unscrupulous men.
Can anybody deny that the less time in Oldham, actual and threatened financial difficulties in the
complicated be a piece of machinery the more easily it is manufacturing districts, and the promise of an abundant new
cotton crop.
With slight interruptions, the tendency of prices
tmderstood and controlled, and the less subject to
derange¬ was
are
downwards, and on the 23d August the rates current showed
prac¬
|d. per lb. in cotton and 3d. to 4£d. per piece
tical view of the case now under consideration?
in shirtings from those ruling about five weeks
previously.
Another point well worthy of consideration, is that the Cotton was not quite at the lowest point touched during the
proposed tariff would encourage the importation of a grade season, but yarns and goods were. The reduction in stocks and
decline in prices led to a better inquiry for yarns and goods in
of pure raw sugars suitable for the
poor man, which, Manchester
towards the close of August.
The improvement
while not interfering with home production nor the
legiti¬ made further progress in September. An increased demand for
mate business of refining, \vould
compete with the so-called cotton followed, 80,000 bales per week being sold in the three
ment?
Cannot
our
Government take
a
simple and
a
decline of about
THE CHRONICLE
500
weeks ende 1 27tk
September, resulting in an advance of fd. to
fd. Besides the liberal purchase by spinners, the market was
strengthened by unfavorable accounts of the American crop; by
more cheerful advices as to food
prospects in India; and by the
to
Malta occasioned
fVot XXVII.
uneasiness
just before the Easter
holidays (April 18 to April 23), and the holidays themselves
inc. eased the indisposition to do business, especially as a strike on
an almost unprecedented scale was
impending in Northeast Lan¬
virtual cessation of pliort-tiine in Oldham and other districts.
cashire. It was hoped that the dispute would be settled without
After a slight pause, accompanied by a trifling decline, the any important stoppage of
machinery; and even if the strike did
demand again increased, and a further advance of fd. was estab¬ occur, it was thought it would be only of a
very short duration.
lished between October 1st and 9th, middling upland selling As regards Preston and a few mil’s in some other towns, these
freely on the last-named day at 6fl., the highest pi ice of the anticipations were realized within a week after the Easter holi¬
season.
The advance brought out sellers, and though spot prices days ; but the bulk of the operatives affected
by the action taken
to reduce their wages remained on “strike,” and about
gave way very little, owing to the small stock, “futures’
120,00J
promptly lost f1. The declining tendency cont;nued until the looms, capable of using yarn equivalent to about 13,000 bales of
6th Novembef, on which day middling was selling at 6fd. on cotton per week, were stopped.
The prices touched on May 2nd were the lowest for the season.
spot, and 6fd. for forward delivery. Daring the subsequent
four or five weeks, a fair business was done at gradually harden¬ There was little change thence to the 6th, but the low
prices
ing prices, with fluctuations of l-lfid. to fd., ending in a net and the more pacific aspect of political affairs began to attract the
advance of about 5-16d. between November 6th and December attention of buyers, and
during the six weeks between May 2od
10th. The advance, however, was due more to the declining and June the 14:h prices advanced'9-16d. on the spot and 7*16d.
stock on the spot, and the small American receipts, than to any to 19 32d. for forward delivery and fd. for
Egyptians, which
improvement in Manchester: the market there being k-pt v* ry were exceptionally strong. The starting point was the success
quiet by the threatening look of French politics, in addition to of tthe negotiations for the assembling of a Congress on the
the chronic anxiety about future affairs in the East.
From Eastern Question; this led to more inquiry in Manchester
the 10th of December to the close of the month the
tone was
very quiet, especially after the 15th, owing mainly to the large
increase in the American receipts, which quite neutralized the
influence of .the
and
an
some
increased business here.
The increased business caused
all classes of operators to
give more attenti n to the statistics
supply and demand than they had been disposed t do during
the dull times.
The result was a gradual, but eventually
marked, change in public opinion as to the prospects of the
market.
Week by week, as the statistical position
gained in
strength, consumers and speculators increased their operations,
and during the three weeks ended on June 6tb, the sales
reached an aggregate of 247,000 bales, or an
average of nearly
14,000 bales per day. At times there were doubts as to the
soundness of ihe advance, and, all along, the movement was
moderated by the inertia of Manchester; but spite of all
scepti'
cisrn, prices continued to harden.
Prices had now advanced fd. in the medium and fd.
to fd. in
the lower grades of American upon the
depressed rates current
at the
opening of May. Meanwhile, consumers had purchased
largely for stock to cover orders taken in Manchester, where a
considerable business had • b.en done during the four or five
weeks. ' Simultaneously with the large
buying of spinners,
increased activity had also been
displayed by speculators and
exporters. All classes of buyers had operated freely in view of
an early termination of
the strike in Northeast Lancashire, and
in the expectation of a general revival in business
consequent
upon the promising out-turn of the food crop« at home and
abroad, and the continued favorable progress of political affairs.
Buyers have thus purchased largely in anticipation of their
requirements, and prices having advanced fully fd., and in some
instances fd., per lb., it was only natural that a
pause should
ensue.
Accordingly, between the 14th and 26th June, the demand
fell to the merest retail dimensions, and
prices gave way 3 16d.
per lb. The strike was at an en *, but spinners had laid in a
large stock of cotton in anticipation of that event, mostly bought
on the basis of 6fd. and below for
middling. It was not surpris¬
ing, therefore, that they cut down their operations when mid¬
dling rose to 6fd., especially as no headway could be made in
of
satisfactory state of .affairs in France*
about 3-16d.
January opened quietly. There was a slight recovery in
futures” during the first ten days, but spot prices were without
quotable change. Throughout the month, and the first half of
February, the market was adversely affected by unsettled politics
and large American receipts.
The spot business averaged le.-s
than 10,000 bales per day, and prices gradually gave way.
At
times there was considerable irregularity—ootably on the 25th
January, on the announcement that the British Fleet had
entered the Dardanelles,again on the 7th February, on the
report
that Constantinople had been occupied by the Russians, and
again on the lltli February, on the statement that the Turkish
Government had refused to allow the British Fleet to pass into
the Sea of Marmora. On the two first-named days middling
upland sank to 6 3-16d. on the spot and 6 1 16d. for forward
delivery, and on the last named to 6 l-16d. on the spot and 6d.
for ne*r deliveries; for, although Lord Derby stated that the
difficulty in the matter of the Dardanelles would be surmounted,
the hitch gave rise to the suspicion of a Russo-Turkish alliance,
and to the consequent belief that war could not be avoided.
During the subsequent week the fleet was allowed to proceed as
desired. Confidence, therefore, revived, and a large business
was done in cotton at an advance of
fd. on the spot and 5-3’M. in
futures.
Then came another batch of warlike rumors, which,
had greater weight than usual, owing to the active preparations
for eventualities being made by the British Government.
The
result was that the improvement just quoted was lost between
the 22d February and the 1st March, middling
upland receding
to 6 l-16d. on the spot and 5 31-32d. for near deliveries.
The announcement made by Lord Derby on the 1st
March,
that the long-delayed treaty of peace between Russia and Tur¬
key would be signed on the following day, and the non-confir¬ Manchester. The lowest rates were touched on June 26tbu
mation of the previous bellicose rumors, again
brought buyers There was very little change thence to the 2nd July. The
into tl e market, and a large business was done during the week decline in
prices was arrested, but that was all. The fact how¬
ended March 7th, at an advance of l-16d. to fd.
per lb.; but in ever, that the decline was arrested, and that a week of very limit¬
the absence of any response from Manchester the
improvement ed business failed to make any further impression upon sellers,
was only short lived,
especially as the political affairs again took caused buyers to show more disposition to operate, and led first
a decidedly
unfavorable turn. During the four weeks ended to the placing of considerable orders in Manchester, and then to
April 4th, the market was almost uniformly dull and inactive. renewed activity here: the upshot of which was a large business
The sales averaged only 7,000 to 8,000 bales per
day, and prices and an advance of fully fd. per lb. between the 2nd an! 5ih July.
gave way 5-16d. on the spot and ll-32d. for futures.
The There was no change of moment during the subsequent three
polit;cal out look was so bad that war between this country and days. A good business was doing, the tone was
very firm, and
Russia was regarded as inevitable ; this
feeling was especially the prevalent opinion was that a further advance of more or less
strong on the 29th March, owing to the resignation of Lord importance would be witnessed before the
incoming of the new
Derby, and again on the 3rd April, in consequence of the war¬ Ameiican crop.
like despatch issued by Lord Salisbury. On both these
Between the 8th and 2 8th July (influenced
days
by the favorable
middling upland sank to 5 13-1 Gd. on the spot and 5fd. for near progress of the Berlin Congress, which was brought to a successdeliveries. Meanwhile, business in Manchester was
fuLclose on the 13th), a large business was done at an advance of
unprece¬
Between the 3d and 9tli April, the general 3-16d. on the spot and fd. to 3 16J. in near and l-32d. to l-16d.
dentedly depressed.
approval accorded to Lord Salisbury’s despatch by the Continen¬ in distant futures, with an exceptional rise of
fd. to fd. in
tal press led to renewed hopes of peace
being preserved, and a Egyptians, which were beginning to attract the attention of
good business was done at an advance of 3-lGd. on the spot and speculators. Middling American was now
quoted 6fd. per lb.,
7-32d. to 9-32d. for futures. But the whole of this
improvement and as this had long been looked upon as the ideal top of the
“was lost during the
subsequent three weeks: that is, between market, buyers hesitated to encourage any further rise, while
April 9th ani May 2d. The movement of troops from India sellers showed a disposition to meet the demand
freely. The
Prices gave way
“
more
November
501
THE CHRONLCLE.
16,1378.]
Ameri¬ East
W. Ind.
slightly weaker tone at the opening of the week
Brazil. Egypt. Smyr¬
Total"
Indian.
can.
na.
&c.
ended 25th July. Spot prices held their ground pretty well, but
Import—
futures lost 1-321.; meanwhile, Egyptians gained £d. and Brazils
159
64
844
399
63
1877-78
4,846
3,317
444
443
107
90
1,135
5,238
3,019
|d. Between July 25th and 31st the demand again became 1876-77
active. The trade purchased extensively to cover orders taken
Increase
298
29 L
44
44
26
392
285
Decrease
in Manchester, and speculators o erated largely, especially in
long staple?. The sales averaged nearly 18,000 bales per day Stocks, Sept. 30—
22
39
30
2
65G
416
147
1878
(being about 106,000 bales for the week ended August 1st), and 1877
36
17
179
127
67
575
1,001
prices advanc d £d. in American on the spot and for forward
14
15
159
32
37
345
Decrease....:
88
delivery, -fd. tofd.'in Brazils, fd. to £1. in brown and fd. in
DELIVERIES FOR EIGHT SEASONS.
white Egyptian, and fd. to 3-16d. in East Indian.
The demand
The following is a comparative statement of the deliveries, in
was less active on the 1st and 2d August, but a good business
was done at full rates.
The market was closed on Saturday the 1,000’s of bales, during the past eight seasons, with the weight
in pounds:
3d and Monday the 5tb. It re-opened on the 6th with a good gen.
eral demand, and prices stiffened a little; but with less doing in
[
Total weight,
Manchester tli3 business here fell off, and prices gave way 1 16d.
Total Si ^
pounds.
on the spot and fd. to 3-16J.
for futures, between the 6th and
>
<
13th August.
—
result
was a
—
But the fall
was
more
than recovered between the 13th and
26th
18752-63
—-t
American. EaIndisat.
Great Britain.
1877-8
1876-7 ....:
1875-6
1874-5
1873-4
Brazil. Egypt.
221 192 256
2,074
Sundries.
44 2,787 428
1,193,158,000
407 416 286 50 3,149 406
August, during which interval prices advanced 3-16d. on
1,990
1,278,538,000
1,948 479 238 298 54 3,017 ,421
1,270,287,000
the spot and f d. to 3-16d. for futures.
Middling upland was not
668 461 245
97 3,077 389*6 1,198,838,000
1,606
660 413 285 90 3,149 394
1,701
1,240,706,000
officially quoted over 6 11 16d., but the bulk of the business 1872-3
737 509 306 129 3,335 384
1,280,640,000
1,654
done on the 26th was at 6|d —the same as on October 9th and 1871-2
658 668 239 155 3,132 360
1,127,520,000
1,412
558 379 241 119 3,222 392
1,925
1,263,024,000
the highest price of the feason. The confidence of operators was 1870-1
Continent.
strengthened by the continued small receipts at the American
656 55 179 112 2,404 422
1877-8
1,402
1,014,598,000
ports, and by the expectation that ihe movement in September 1876-7
862 63 155 152 2,255 408
1,023
920,082,000
916 109 166 178 2,553 402
1,184
1,026,374,000
and October would be retarded, in consequence of the prevalence 1875-6
1874-5
947 151
981
85 174 2,341 382
894,262,000
of yellow fever at New Orleans and the principal depots on the 1873-4
874 187
91 196 2,369 377
893,113,000
1,021
1872-3
890
790 231 101 181 2,193 366
802,638,000
banks of the Mississippi.
All along a strong opinion had ruled 1871-2
726 298
671
65 221 1,981 350
693,350,000
753 212 96 186 2,365 380
that 7d. would be seen for middling upland before the free 1S70-1
1,118
898,700,000
All Europe.
import of the new crop, and a confident feeling now prevailed
1877-8
877 247 435 156 5,191 425*3 2,207,756,000
3,476
that that figure was close at hand.
Manchester, however, 1876-7
3,013 1,269 479 441 202 5,404 406*8 2,198,620,000
refused to follow; the market becime quieter on the 27th 1875-6
3,132 1,395 347 464 232 5,570 412*3 2,296,061,000
1874-5
2,587 1,615 615 330 271 5,418 386*3 2,093,100,000
August, and gradually lost strength as the week advanced; 1873-4
2,722 1,534 GOO 376 286 5,518 386*7 2,133,819,000
1872-3
2,544 1,527 740 407 310 5,528 376*8 2,083,278,000
especially as the American receipts began to increase in a way 1871-2
! 2,083 1,384 966 304 376 5,113 356*1 1,820,870,000
that had not been anticipated.
The declining tendency of prices 1870-1
j 3,043 1,311 591 337 305 i 5,587 386*9 2,161,724,000
continued (with trifling interruption) until the 2oth September.
The average weekly deliveries in bales were as follows:
The stock in cotton here was gradually diminishing, but there
was a more than corresponding accumulation at the American
1877-8 1876-7. 1875-6. 1874-5. 1873-4. 1872-3. 1871-2 1870-1.
ports. The possibility of a pinch for cotton was, therefore, Gt. Br.
39,882 38,274 37,468 30,885 32,711 31,808 27,154 37,019
becoming more and more remote, especially as, in anticipation of Amer.
E.Ind. 4,256
7,833
9,220 12,846 12,692 14,173 12,654 10,731
liberal supplies and lower prices later on, buyers in Manchester Other 9,469 14,452 11,337 15,442 15,154 18,154 20,423 14,211
and everywhere else were greatly restricting their operations.
Total. 53,607 60,559 58,025 59,173 60,557 64,135 60,231
61,961
The desire to sell, therefor-, increased, and by September 25lli
Con't.
middling upland sank to 6 5-16d. on the spot and 6 l-16d. for Amer. 26,955 19,681 22,773 18.865 19,635 17,115 12,904 21,500
distant futures, or 7-16d. and £d. respectively lower than on the E.Tnd. 12,605 16,574 17,607 18,212 16,807 15,192 13,961 14,481
Other
7,110
6,676
8,719
7,942
9,116
9,866 11,231
9,500
26th August. Spot prices recovered 3-16d. b tween the 25th and
Total. 46.236 43,365 49,099 45,019 45,558 42,173 38,096 45,481
30th September, owing chiefly t^ the deficit discovered at stock- J.
taking; but distant futures only gained 1 32d., and the market Grand
total 99,8431103,924 107,124 104,192 106,115 106,308 98,327 107,442
closed barely steady. The final quotation on the spot—6 d.—was
The average weigJit of American packages consumed this year
ll-16d. higher than the lowest, and fd. lower than the highest,
we estimate at 442 lb?.,
against 438 lbs. last year; of Egyptian,
quotation for the season. The averuge price for the season was
6 5-16d., against 6£d. last season and 6£d. the season before. 595 lbs., against 601 lbs.; of Brazil, 165 lbs., against 164 lbs.; of
The lowest price was 5 13-16d., against 5fd. last Beason and 7£d. West Indian, &c., 170 lbs., against 205 lb?.; of Smyrna, 380 lbs.
in 1875-76; the highest 6fd., against 7 3-16d. last season and
7fd. against 370 lbs. for Great Britain, and 350 lbs. for the Continent,
for both years ; of East Indian, 387 lb3., against 384 lb3., for
in 1875 76; the extreme fluctuation was 15-16d., against 1 7-16d.
Great Bri aiu, and 377 lb3., against 373 lbs. for the Continent.
last season and lfd. the season before.
The following is an accountof the principal fluctuations
CONSUMPTION OF GREAT BRITAIN.
during
At
the
opening of the past season, English spinners held a sur¬
the season in the leading descriptions of cotton, 32’s twist, and
81plus stock of about 13,800,000 lbs of cotton. The deliveries dur¬
lb. shirti gs :
ing the season have reached 1,193,158,000 lbs. It is supposed
aT ti
Deliveries.
*0^4
C*C
63*3
H
-i-i
I
Near.
1877.
Sept. 29
Oct.
9
Nov. 6
Dec. 10
Dec. 27
1878.
Jan. 10
Feb. 15
Feb. 22
Mar. 1
Mar. 8
April 3
April 9
May 2
June 14
June 26
July
Aug.
Aug.
Sept.
Sept.
31
13
26
25
30
..
..
..
..
..
..
..
..
..
..
..
d.
638
63*
6*4
d.
61*
Dis¬
tant.
d.
am. Fair.
Peru
..
..
..
..
..
..
1
W
(
d.
63s
63*
6*2
Dlioer. Fair.
d.
d.
638
6316
6932
63,
63e
6H32 6716
6
63.32
63*
6*2
5516
6yie
638
53lrt
6^8
6*2
6*2
65s
5*8
611*6
6*8
6^16
6*16
63ig
6*16
6*8
6*8
614
6yl6
67fi
6*4
53132 6332
65b
63.32 6I4
e»i6
5131<? 523;i2 52y32 67ie
6
6
6532
6716
5i8
d.
d.
918'S>958
93s®978
9
478
478
4%
71*
5*16
7i*
5*8
9*8
5bl6
9
514
514
9
@9*2
858@9*8
83*@9!4
85e®9
83*@918
8
'a)858
8
@812
7?58®814
83s@87g
818@83*
918@938
5*16
83*@938
8**8® 9
5
814@878
EUROPEAN IMPORTS AND
8*4 lbs.
s.
6
6
6
6
6
6
6
6
6
6
5
5
5
6
6
6
6
6
5
5
d.
s.
4 *2® 8
4*2
7*2@8
4!2@8
9
3
4^® 8
1*2@8
412
d.
3
3*2@8 41q
H2@7 1012
ll2@7 lOlo
O
@7
101."
112@8
O
71o@7
~@7
7lo
910
a)7
7io
li2@8
1*2
1X2
4i2
6
6
lio@8
4i2@8
3
@8
li2@8
9
9
@7
@7
3
0
9
7*2
STOCKS.
The
imports and stocks for the whole of Europe
follows, in 1,000’s of bales :
•
c
..
i
the
twelve
season were
about
months
previously. The weight of cotton
during the seasou, therefore, was about 1; 193,158,006
lbs., againot 1,273,256,000 lbs. in 1876-7—a reduction of 6*3 per
cent.
The figures for the last and previous five seasons compare
same
as
consumed
@9*2
914^93*
9
@9^
5*16
5116
Shirtings,
Twist.
55i6
5316
5716
5*16
63*
63*
63*
83,.
758
738
32’s
.
that the stocks at the mills at the close of the
>
618
63e
6^
6*2
6*2
6^ic
6*>8
b1316 53*
51516 63s
G38
6H.32 638
6^8
63 i6
6830 63*6 65a
6%
0Il6 738
6°ig 612
6516 73s •
63*
6ilie 6716 738
6*16 6%
gju 6y32
6^.32 6332 63*
..j 612
..
c,
1—r£
..
:
compare as
as
follows
:
.
Actual Weight
Delivered,
....
1873-4.....
1874-5..:..
'
.
W’ght!
Estimat’d
Consumed.
1,280,640.000
1,227,453,000
1,240,706,000
1,259,836,000
1,224,377,000
1,270,287,000
1,273,256,000
1,193,158,000
1,198,838,000
1,270,287.000
1,278,538,000
1,193,158,000
j
..Surplus,
Deficit,
Pounds.
Pounds.
53,187,000
19,130,000
25,539,000
“
5,282,000*
In bales of 400
lbs., the consumption reached 2,982,890 bales
57,360 per week. If all the spindles had been
fully at work, the quantityvof cotton used per week would have
been about 62,600 bales of 400 lbs. The actual consumption was,
therefore, 5,240 hales, or 8*4 per cent, below the consuming
power of the machinery in existence, if worked full time.
for the year, or
The
EXPORTS OP YARNS
following is
a
AND GOODS.
comparative statement of the exports of cot-
502
ton yarns
THE
CHRONICLE.
and pciee goods from Great Britain in each of the
past
ended Sept. 30th, in millions of
pounds and yards :
ten seasons,
-
1877-78
1876-77
1875-76
1874-75
1873-74
Yarn.
Pounds.
Goods.
Yards.
250*5
230*3
223*2
218*1
218*5
3,681
3,803
3,635
3,546
3,530
Yarns.
Pounds.
1872-73
1871-72
1870-71
1869-70
1868-69
,
1
-
219*2
200*5
194*0
181*5
169*3
..
Goods.
Yards.
3,526
3,449
3,432
3,412
2,908
78781
The diminished
export of goods during the past season is
almost counterbalanced
by the increased export of yarn. This
fact is apparently at variance with the
decrease of 6 3 per csnt in
the weight of cotton
consumed.
But the shipments include a
quantity of
yarns and goods taken out of the excessive stocks cn
the close of the
previous season. Moreover, the goods
exported this season have contained less
cotton, yard for yard,
than those shipped last season. This is
admitted by the
-leading
shippers, but, so far, we have found it impossible to
get a reliable
estimate of the difference. It is
believed that the stocks in first
hand
at
hands, though still large, are smaller, and those in the
hands
distributors much smaller, than they were at this time
of
las: year.
CONSUMPTION OF
In the
•
following table
give
we
THE
CONTINENT.
approximate estimate of the
quantity of cotton consumed in each country
during the past
season.
In the case of Russia, we
may observe that the con¬
sumption during the first half of the season
averaged about 42
lbs. per spindle, but in the second
half, about 60 lbs. per spindle.
an
No. of
Germany
Austria
Switzerland
Holland
Spain
23
60
54
46
45
67
880,000
Total
as
80
53
65
1,775,000
Italy
*
51
310,000
4,700.000
1,558,000
1,850,000
230,000
800,000
5,000,000
France
19,963,000
Bales of
400 lbs.
Ave’ge
*364,650
7,013
1,192
11,976
4,868
2,046
sc
2,860,000
'
Belgium
pounds.
-s
1-3
Russia A Poland..
Sweden & Norway.
Total
r£ .5
spindles.
50*1
145,860,000
24,800,000
249,100,000
101,270,000
42,550,000
13,800,000
43,200,000
230,000,000
62,000
622,750
253,175
106,375
34,500
108,000
575,000
199,687
per
week.
'663
2,077
58,960,000
147,400
11,058
3,840
2,835
989,415,000
2,473,537
47,568
79,875,000
In last year’s
report, the consumption of Russia, in bales, was
printed
306,250—it should have been 356,250,
and the total for the Continent,
2y449,737, instead
of 2,399,737.
The
weights were correct.
The foregoing figures show an
increase of nearly 2 per cent
over the estimated
consumption of the previous year—bad trade
and
grumbling notwithstanding. It should be borne in mind,
however, that the stocks of yarns and goods are
except in Russia, reported as being very excessive.
ments for the past five seasons
compare as follows:
Actual weight
1873-74..
1874-75..
1875-76..
1876-77..
1877-78..
delivered, lbs.
Estimated w’glit
consumed, lbs.
Surplus,
893,113,000
894,262,000
1,026,374,000
872,000,000
915,375,000
21,113,000
961,143,000
65,231,000
920,032,000
979,895,000
989,415,000
1,014,597,000
pounds.
25,182,000
probably about 50,000 to 60,000, but these are offset
by mills burnt
and laid idle, so that the
spindles worked have not. been
increased. At Fall River the spindles
materially
(about
1,300,000) have been idle
in part.
Almost every mill there was on
half-time or less in July and
August; this, together with the stoppage of the
Union, Border City, and
Sagamore, probabljr give in the
aggregate some reduction from last year;
but there was also short-time the
previous summer, so the comparative
loss was small.
We estimate the total
spindles in the
now at about
9,900,000, and in the South at 600,000, or a total in North
the country of say
10,500,000.”
1874.
Bales.
Taken
mills
Taken
mills
Total
The
move¬
Deficit,
pounds.
1877.
1878.
Bales.
Bales.
128,526
145,079
145,000
takings from
147,000
148,000
[
1,305,943 1,207,601 1,356,598 1,435,418
1,546,298
Last year spinners
months previously.
did last year.
held rather less cotton than t jey did twelve
This year they hold a little more than
they
By this constant increase in the home production of cotton
goods the United States is becoming more and more
independent
of foreign (i. e.
British) fabrics. In reference to the future, the
Chr.onitle looks for
a
“
continued expansion.
In the first place, it is nor at all
likely that foreign dry goods will
ever again come here to
anywhere near the extent usual prior to 1873.
We can manufacture for ourselves better
and cheaper now. The
very
depression we have passed through has
taught us great economies iu
manufacture, while the labor-saving mechanical devices we
have intro¬
duced since then and during previous
years are enabling us to put upon
the market better goods at a less cost than
our rivals. For these
reasons.
Our home demand will be left
much more nearly for ourselves to
supply,
and as other business activities
revive, we shall thus find profitable
employment for all our spindles and a stimulant to
healthy growth for
the future. Then, again, as is well
known, there is a growing outside
demand for our goods, which we are
able to meet at a profit.
A new
trade is of course of slow
development, and especially at a time like this,
when every country is
manufacturing without profit, and forcing its
productions on unwilling customers.; But
notwithstanding the many
discouragements, the movement is in a healthy
condition, and full of
future promise. In this connection it is a
singular fact that the average
factory earnings (of operatives) are higher in this
country than in 1860—
that is, higher above the cost of
living than in 1860; yet, while their
earnings are more, the cost of supplies is more, and cotton
as high, the
prices of cotton goods are much lower than
then; higher speed, better
machinery, greater skill, and close economy in
management, permit
this result.”
What becomes of
ican
portion of the increased out-turn of Amer¬
spindles and looms is shown in the following account of the
a
exports of cotton manufactures from the United States
the years
named, ending June 30.
Cotton
riECE GOODS.
Years.
Plain.
Yards.
1872
1874
1876
Colored.
Yards.
8,859,191
-
13,237,510
59,319,267
76,720,260
88,528,192
during
Manufactures
Total.
all
Yards.
2,844,888
4,600,447
16,488,214
29,111,434
11,704,079
17,837,957
75,807,481
105,831,694
126,293,505
37,765,313
kinds,
Value.
$2,304,330
3,091,332
7,722,978
10,180,984
11,435,628
THE EGYPTIAN CROP.
The
following is an account of the shipments of cotton from
during the past five seasons, ended September 30.
Alexandria
was 5,368,000 lbs.
It is
therefore, 30,550,000 lbs., or 7G,000 bales of 400
lbs., against
13,000 bales last year, and 1G3,000 the year before.
AMERICAN COTTON CROP.
American
1876.
Bales.
1,177,417 1,062,522 1,211,598 1,288,418
1,398,298
by Southern
21,113,000
59,863,000
1875.
Bales.
by Northern
crop
now,
The last
'
Allowing for differences in stocks in the Northern interior
towns, and deducting the cotton sent to
Canada, and that burnt
or lost, the deliveries
during the past five seasons were as follows:
everywhere,
Twelve months ago the net
surp’us
THE
|Vol. XXVII.
reached 4,811,2G5 bales, against
4,485,423 bales in the previous season. The
exports to Great
Britain amounted to 2,036,732
bales, against 2,024,877 bales, and
to the Continent
1,310,108, against 1,024,620. American spinners
took 1,546,298,
against 1,435,418 bales. The weight of each of
the past five
crops is estimated as follows by the New York
crop
To—
Liverpool
France and Spain....
Trieste
Venice
Russia
Total
1877-8.
1876-7.
1875-6.
1874-5.
1873-4.
237,168
52,740
17,660
22,981
69,105
300,506
53,669
311,386
22,923
29,618
31,840
273,019
34,644
12,713
7,232
41,310
45,723
14,697
17,722
312,172
54,540
10,952
19,703
12,890
399,654
438,556
471,640
347,314
410,257
60,508
-
PROSPECTS OF SUPPLY.
The American crop accounts are
last Bureau report points to a
exceedingly favorable. The
yield
of
from 5 to 5£ million bales;
Financial Chronicle,
upon returns received from the various
andjprivate
advices
mostly confirm this estimate. Assuming the
Southern shipping ports.
coming winter to be as mild as the last, the crop may reach
5,250,000 bales, of which American spinners will
Chop.
require about
Season of—
Average
1,650,000 bales, leaving 3,600,000 bales for export to
weight
Europe. India
Number, bales.
Weight, pounds.
per bale.
will in all probability send us
250,000 bales more than last season
1877-78
4,811,265
2,309,908,0*10
480*10 —say a total of 1,100,000 bales.
1876-77
We shall, perhaps, get a little
4,485,423
2,100,465,086
468*28 more
1875-76
from the Brazils, say 200,000
4,669,288
2,201,410,024
471*46
bales, against 159,000; but the
1874-75
3,832,991
1,786,934,765
468*00 supply from
1873-74
Egypt
will
show
deficit
of from 10 to 20 per cent—
a
4,170,388
1,956,742,297
469*00
say
340,000
bales,
against
400,000.
Sundry sources will probably
The foregoingare
gross weights,and include bands and
wrappers. send about the same as last season. In
weight the foregoing
CONSUMPTION OF THE UNITED
STATES.
The deliveries to American
reached 1,546,298
bales,
vious
season.
or
Bearing in mind
the continued complaints of bad
trade, the increase is surprising. The New York
Financial
Chronicle, in its annual crop statement,
“
says;
Excluding Fall River,
tlio Northern mills are
supposed to have
worked lees hours in the
aggregate than last year, but the falling off was
more than covered in
weight
of
goods
produced
by the coarser average
•of cloth made.
The new spindles put
in motion during the year are
estimates
are as
spinners, North and South, have
110,880 bales more than in the pre¬
t
&
follows.
*
Bales.
American
East Indian
Egyptian
Brazils
Smyrna, &c
West
India, Ac
Total
Weight.
3,600,000
Pounds.
442
1,100,000
340,000 *
200,000
65,000
65,000
380
600
165
350
170
5,370,000
424*4
.
-
*
1,591,200,000
418,000,000
204,000,000
33,000,000
22,750,000
11,050,000
2,280,000,000
November
This estimated
tion of last
THE CHRONICLE.
16,1878.1
supply
compares as
follows with the consump¬
season.
503
the whole of their
production till August, 1879, and weavers haveDecember, 1878.
Prospects.—There is an excellent demand for goods, and the
outlook for the new season is very favorable.
contracts until the end of
Pounds.
Consumption of Great Britain
Consumption of the Continent
1,193,158,000
989,415,000
Total
2,182,573,000
2,280,000,000
Estimated supply
GERMANY.
Past Season.—From all parts of the Empire the business of
the past season is reported as having
been more or less unsatis
factory, in
consequence of political uneasiness, industrial inac¬
tivity, and foreign competition. Tbis state of things has kept
But there was more or less of “ short-time” last season.
If we supply constantly ahead of demand, and prevented producers
from obtaining remunerative prices, while the
relatively high
compare the estimated supply with the 'power of consumption, we
price of cotton has further aggravated the situation. On the
get the following result.
whole, however, matters bave not been any worse than during
Pounds.
the
previous season. Nearly all our correspondents complain of
Spindles.
Pounds.
Per Spindle.
the disastrous effect of English competition.
Manchester, they
Great Britain
:
33
39,500,000
1,303,500,000
say,
Continent
a
sufficient
failing
to
find
outlet
for
her
53
products in India
20,000,000
1,060,000,000
and China, owing to the famines in those
countries,
has flooded
Total
;
59,500,000
2,363,500,000
SuddIv as above
the Continent with her surplus production of
2,280,000,000
yarns and goods,
which have been forced off at <f
Deficit (equal 208,000 bales of 400 lbs.)
slaughtering
prices.” From
83,500,000
some districts,
too, there are loud complaints of Alsatian com*
The above figures do not take into account the fact that we petition.
A report of the Augsburg
commence the season with 345,000 bales less in the
(Bavaria) Chamber of Commerce
ports of
and Industry says that few mills have earned more than bare
Europe than twelve months since—the importance of which
interest; others are working without protit, or at a positive loss,
circumstance will depend upon the developments of
supply as
and it is apprehended that many will be
the new season advances.
utterly ruined before
long.
The
causes
of
this
deplorable
of
state
CONSUMPTION AND PRICES.
things are stated
Supposing the rate of consumption to be somewhat larger than by the report to be: (1) The excessive over-production in England,
where 10,000,000 spindles have been added
last year, but still somewhat less than the full
during the past seven
power of consump¬
tion—say half way between 2,182,000,000 lbs. and 2,363,000,000 years; this increase alone is twice as much as all the ^indies of
lbs—the requirements of Europe for 1878-79 will be ab ;ut
2,273,- Germany, including Alsace. Great Britain has now 41,000,000
000,000 lbs., or nearly the same as the estimated supply given spindles, and there is not cotton enough to feed them; moreover,
above. That is to say, supply and demand would be about at an the American mills are using more cotton every year, and are
equilibrium. Under such circumstances, with a continuance of competing with the English goods in foreign markets. This
the hand-to-mouth style of business which has characterized the colossal over-production of England keeps cotton at a price which
past season, we should look for a lower average of prices in is unhealthy, and at the same time inundates our markets with
1878-79 than in 1877-78. But the entire situation of the market goods at slaughtering rates. (2) The Oriental war and reduc¬
tion in export for Danubian principalities.
(3) The uusatisfacmay be changed by a severe winter in the Southern States, or by
the advent of a better condition of trade in India and
tory
condition
of
the
German
establishments,
weaving
owing
China. So
13
the
far as can be seen at
competition arising from the Alsace manufacturers•
present, however, the chances are in favor
Alsace
was
of a lower range of prices
largely
engaged to
French
supply
the
for the raw material, and, consequently,
markets,
and
in favor of a more profitable business
Germany did not feel the elect of the
for Bpinners and manufac¬
accession
of
looms
until
towards
the
end
of
turers than has been experienced for
1875,
many years past.
when the re-action set in in France, and the
STATE OP THE COTTON INDUSTRY ON THE
English com¬
CONTINENT.
increased
at the same time, owing to the unfavorable
In September, we forwarded
petition
printed forms, containing the fol¬
lowing list of questions, to correspondents at every cotton port position of the India and China trades. Weaving in Germany is
and cotton-manufacturing di strict on the Continent r
nearly in all cases an absolute loss. (4) The insufficiency of the
111. Has the character of the business of the past season been
protective
duty, in consequence of which Eugland continues toor
unsatisfactory, and what causes have influenced the course of satisfactory
trade ? What
work
from
2,000,000 to 2,500,000 spindles for the German mar¬
are the. prospects for the new season ?
Has the competition of
English yarns
and goods increased or
The export to Austria has increased, but only at
kets.
diminished, compared with previous seasons ?
prices
2. Has the consumption of cotton in
your district increased or decreased,
which at ordinary times would not be taken into
and what do you estimate the difference
consideration,
per cent compared with the previous
season ?
and which were only accepted for not
stopping the mills. All
3. Are the stocks of raw cotton at the mills in
ycur neighborhood larger or
smaller than they were at this time last
this would be avoided if Germany had the same protective duties
year ? If so, what is the approximate
difference per cent ? State
approximately the number of weeks’ requirements as France has
now on hand.
against imports of cotton goods from England.
4. Are the stocks of yarns and
goods larger or smaller than they were at this The spindles in Germany have increased from 3,000,000 to
time last year? If so, what is the
4,800,approximate difference per cent ? State
approximately the number of weeks’ production now on hand.
000—say by 60 per cent—through Alsace being annexed, and
5. What increase (if any) has there been iu the number
of spindles in your
35,000 looms have been added thereby, all of which would have
neighborhood ?
6. What is the total number of
spindles nowin existence in your country, caused a crisis much sooner, if the over trading in 1872 and
1873,
and how many (if any) are not
running at the present time ?
7. What is the average
consumption^ cotton per spindle per annum in your and subsequently the splendid business of the French cotton
neighborhood when all the machinery is fully at work ?
manufacturers, had not staved it off.
8. Plea-e state the number 6f
power looms in your country, and the
number of hands employed in
Our Alsatian correspondents complain of English
spinning
and
weaving,
either
by
official
return
competition,,
or approximately ?
Surplus (equal 242,000 bales,
or
400 lbs.)
97,427,000
.
9. Has there been any increase in the demand for
the products of your
district for export either to Continental or more distant
markets.
not
so
much in Alsace itself
for Alsatian
as
in the German and other outlets
products.
change of moment in the number of spindles.
One new mill containing about 30,000 spindles has been built in
Bavaria bu an old mill containing nearly 60,000
spindles has
perusal of our report will afford them some recompense been
destroyed
by
fire.
The
rate of consumption has been about
for the trouble which
they have been put to in complying the same as done the previous season. The stocks of cotton are
with our wishes.
rather larger. The stocks of yarns and goods are decidedly
larger.
RUSSIA.
Prospects.—No change for the better is expected until English
Past Season.—Owing to the depreciation
of the currency and competition is diminished, either by reduced
production in Eng¬
to the law
compelling the import duties to be paid in gold, the land, or an improved demand from India and
China, or an
business in cottou yarns and goods has been
very favorable to increase in the^German import duties.
producers, and prices have materially advanced.
All the fairs,
AUSTRIA.
especially that of Nish-ny-Novgorod, have gone off satisfactorily.
Past Season.—Unsatisfactory, owing to unfavorable
political
There has been some increase in
spindles. A recent official circumstances, slow trade, and increased competition of English^
count gives the total in the
Empire as 2,858,283, including 278,- manufactures, which causes have reduced the
prices below the
640 in Polaud. The consumption of cotton has been somewhat
cost of production.
The import of English yarns and goods stim¬
larger than in the previous season. The stocks at the mills are ulated,
owing to the anticipated advance in the import duties.
small; but spinners have purchased probably six months’ sup¬
No increase in fepindles, but mills
containing 75,000 being
ply for forward delivery. There are no stocks of yarns or goods juilt.
Consumption
of
cotton
about
the
same as last year ; cer¬
of moment in first hands.
Spinners have contracts on hand for tainly not more, possibly slightly less. Stocks of cotton at theWe take tbis opportunity
of
thanking our numerous corre.
spondents for the prompt and hearty manner in which
they have answered our questions, and we trust that the
There is
no
504
THE CHRONICLE.
mills rather
larger in some places, but smaller in others ; on the
whole, little change. Stocks of yarns and goods rather larger.
Prospects.—No immediate improvement anticipated, owing to
large stocks of goods and the ruinous competition of English
products, selling at “ slaughtering prices.”
SWITZERLAND.
rvoi, xxvii.
reduce her immense
production,
industry is destined to be
our
ruined next season.”
SPAIN.
Past
'«
Season.—Unsatisfactory, owing, partly, to the
poor grain
by the drought, and partly to the adverse influ¬
harvest caused
of the universal commercial crisis.
No increase in spindles. Those driven
ence
Past
Season—Unsatisfactory, owing to unsettled politics, over¬
by water have been
production, and EngUsh and Alsatian competition, all of which running short-time, owing to the drought; but those driven
by
have rendered sales difficult, and, in combination wiih
relatively steam have been mostly running full time. Lees cotton has been
dear cotton, kept prices at an
delivered than last season, but the stocks at the mills are
unprofitable level.
No new mills built, but
improve! machinery introduced in smaller, so that the weight consumed has probably not undergone
some old ones, and total number of
spindles slightly increased- any material decrease. The tendency has been to go on to lower
Hours of labor reduced by law to 11
per day, but very little counts of yarn.
The stocks of yarn are smaller than last year.
reduction in the consumption of cotton,
In
owing to increased pro¬
goods there is no change of moment—possibly a slight
duction of
coarser counts of
yarn.
Stocks of cotton at the mills
rather smaller than last year.
Stocks of yarn unchanged, but
those of goods rather larger.
Prospects.—Little amendment expected until
an
imp oved
increase.
Prospects.—At present the mills are not fully employed. The
course of the trade
depends upon the harvest prospects
future
and the state of trade
demand from India and China diminishes the
competition of
English products.
Fears
are
entertained
that
renewal of commercial treaties with various
will be signalized by increased
the
impending
foreign countries
generally.
ITALY.
Past
Seasop.—Unsatisfactory, owing to the high price of cot¬
ton and the slow demand for
goods. The competition of English
imports lias been less than was experienced last season.
the demand for Swiss manufactures.
A slight increase in spindles.
There has been an increase of
HOLLAND.
about ten per cent in the consumption of cotton.
The stocks of
Past Season.—Very
unsatisfactory, owing to the small margin cotton at the mills are smaller than last year. The stocks of
between the raw material and the manufactured
article. The yarns and goods, especially the latter, are
larger.
export trade to the Dutch East Indies has suffered
greatly, in
Prospects.—A little better, as an increased consumption maybe
consequence of the increased competition of English manufac¬
expected in consequence of the favorable out-turn of most crops.
tures, brought about by the abolition of the differential duties on
SWEDEN.
imports into Java, &c. This competition in the export trade has
Past Season.—Unfavorable, owing to a diminished
consumption
led to an increased production of hooie-trade makes of
goods, and of manufactured goods. There are fewer complaints of English
thereby depressed the market.
competition.
There is a slight increase in the number of
There is no increase in the spindles.
spindles. The con¬
If anything, the con¬
sumption of cotton has been about the same as last season. The
sumption of cotton has been less this season than last. The
import duties, which will lessen
stocks of cotton at the mills are smaller than last
year.
little change in the stocks of
yarns, but the stocks of
There is
goods
are
larger than last year.
Prospects.—There ha3 lately been some improvement in tlia
demand, and, with the promise of cheaper cotton, a more
hopeful
view is taken of the future,
though the feeling in this respect is
not very sanguine.
BELGIUM.
Past
ion has exceeded
con¬
sumption.
The export branch of the trade has been injured
by
war and by “the revival of the
protectionist policy
in countries to which we
exported an important part of our pro¬
the Eastern
The home trade has been
injured by the impoverish¬
by the late financial catastropliies, by the bad state
of the glass and metal
industries, and by the English competition,
which has become greater than ever.
There is no increase in spindles.
The consumption of cotton
has, if anything, slightly decreased. In consequence of the bad
state of trade and the
relatively high prices of the raw material,
spinners have purchased only from hand to mouth ; the stocks of
cotton at the mills are,
therefore, smaller than last year. The
stocks of both yarns and goods were
large last year, but they are
larger this ; variously estimated from three to six months’ pro¬
ment caused
duction.
Prospects.—Unfavorable, owing
and the
severe
to the large stocks
competition of English products.
on
hand,
FRANCE.
Past
were
Season.—Unsatisfactory throughout the
at
the mills
twelve months ago,
are
much smaller than than
they
but the stocks of manufactured goods
much
larger.
Prospects.—The condition of the industry is unsatisfactory,
and there are no signs of any immediate
improvement.
are
THE
COTTON
MILLS OF
INDIA.
The latest official reports give the number of spindles
now at
work in India
Season.—Unsatisfactory. Produc
duction.”
stocks of cotton
1,275,000, of which 1,025,000 are in the Bombay
Presidency, and 250,000 in other parts of India. The average
rate of consumption is about 75 lbs. per
spindle per annum. On
this basis, the consumption during the
past season amounted to
108,355,000, or about 277,000 bales of 390. The extraordinary
progress made of late years is shown in the following table :
Year.
1861
1874
as
Spindles at
work.
338,000
593,000
886,000
1,124,000
1,231,000
1,275,000
1875
1876
1877
1878
Cotton Consumed.
Pounds.
25,350,000
44,475,000
66,450,000
84,300,000
92,325,000
95,625,000
Bales of 390
Bales
pounds.
$ week.
65,000
114,000
170,000
216,000
237,000
1,250
2,190
245,000
Many of the Bombay mills have been working
short-time this year, so that the quantity of cotton
sumed has been somewhat less than 245,000 bales.
In
reference
to
3,270
'
4,150
4,560
4,711
more or
less
actually
con¬
this branch of Indian
industry, Mr. J. E.
O’Connor, Assistant Secretary of the Government of India,
Department of Revenues/&c., in his " Review of the Trade and
Navigation of British India,” published this year, says: “It
appears that Bombay-made twist is suited to the Chinese market,
consumption, and foreign competition.
where it is much likedv The trade has increased
rapidly, and,
have sold at ruinously low prices. Of
late, too, there have been judging from the accounts of the current year, is still on the
increased imports from Alsace and {Switzerland.
increase.”
“ Indian piece goods do not make such
rapid progress
There has been no appreciable increase in the
number of as twist in markets external to India, but it may be hoped that
spindles. Here and there, short-time has been worked ; the in course of time our cotton mills will find
good customers for
effects .of this on the
consumption of cotton has been partly their shirtings in the neighboring countries. Manchester piece
counterbalanced by the increased
production of the lower counts goods are clearly'not much to the liking of the Chinese, and the
of yarn ; but, on the whole,
perhaps less cotton has been used Americans are trying to oust them from the market altogether,
this season than last. The stocks of cotton at the
mills are much to the benefit of their own goods. There appears to be no
par¬
smaller than a year since ; but the stocks of
yarns and goods are ticular reason why Indian gray goods should not be able to suc¬
larger.
cessfully compete in these markets with either English or Amer¬
Prospects.—Unfavorable, owing to excessive stocks, slow de ican goods of similar qualities.”
mand, English competition, and general uneasiness. Short time
FOREIGN COMPETITION: OVERPRODUCTION.
in England and elsewhere advocated as the
only effectual cure
Nearly’five years ago, just before the last Factory Act came
for the present
unsatisfactory condition of the trade everywhere. into operation, we drew attention to the
rapid growth of foreign
One of our correspondents
says : “ If England, in the face of the
competition, which we stated was “ worth the serious attention
development of the cotton industry in all parts of the world, is of those who have
been, and are still, directly or indirectly seek¬
not able to find a new out-let for her
manufactures! and does no
ing to increase the cost of production in this country.” Since
t
owing to
industry, reduced
English yarns and goods
the unfavorable condition of all branches of
a
season,
November 16,
THE CHRONICLE.
1878.]
505
then the
competition of the United States, the Continent and here is made clear in the following table, which
gives the export
increasingly severe, as will be seen by a glance of piece goods and yarns to France, Germany, Holland,
Belgium,
at the following account of the
consumption of cotton in 1860 Italy and Austria, in millions of yards and pounds, in each of the
1870-71, and 1877-78, in 1,000’s of bales of the uniform weight of last ten seasons, ended
September 30, and in the year 1861 :
400 lbs.
India has become
each
:
Piece Goods, yards.
1860.
Bales.
1870-71.
Per cent.
Bales.
1877-78.
Per cent.
Bales.
France Others.
Per cent
1861.
1868-69
1869-70
1870-71
1871-72
1872-73
1873-74
1874-75
1875-76
1876-77
1877-78
..
Great Britain
Continent....
United States
India
Total
1870-65432
The
2,817
1,794
1,088
5,699
49 4
31*5
19-1
100*0
2,988
1,962
1,209
47-9
31*4
87
19-3
1-4
6,246
100-0
figures for the United States
are
2,983
2,473
1,657
40-6
33-7
230
22-6
31
7,343
100-0
the average deliveries for
1859 and 1860, 1970-71-72: and the actual deliveries in 1877-78,
minus
46,000 bales supposed to be on hand at the close of the
The deliveries were 1,546,000, the
consumption is esti¬
mated at 1,500,000 bales of 442 lbs. net, or 1,657,000 bales
of
The
26-7
56-3
38-3
56-7
110-2
107-5
118-9
93-0
92-9
69-5
62*5
257-4
263-3
221-9
256-1
2690
302 1
268-8
2901
274-9
287-8
270-2
Goods
lbs.
Yarn,
Total.
284-1
56-8
319-6
260-2
312-8
379-2
409-6
387-7
383 1
63-9
52-0
62-5
113-6
98*4
85-6
104-3
101-9
116-5
106-6
104-3
108-7
102-1
89-2
367-8
357*3
332-7
75-8
81-9
77-5
76-6
73*5
71-5
66-5
11)8.
Total, Equal in Cotton
lbs.
To 11)8. To bales.
170-4
162-3
137-6
154-8
166-8
177*7
198-4
184-1
180-9
182-2
173-6
155-7
187-6
199-9
223*2
207*1
203*5
2050
195-3
175 1
191-7
182-6
479,250
456,500
387,000
469,000
499,750
558,000
517,750
508,750
512,500
488,250
437,750
of
1870-71, and the transfer of Alsace from France to
an exceptional movement in the trade
during
the first and second, and part of the third, season
the
succeeding
400 lbs.
peace.
We have therefore given a separate column for France.
Great Britain held her ground pretty well between 1860 and
There is no doubt that the
temporary withdrawal of labor from
1871; but a very adverse change has since taken place. The total the cotton
industry
during
the war stimulated exporis from Eng¬
increase for all countries between 1860 and 1871 was
547,000 land to France and
Germany. It is evident also that the with¬
bales, of which 171,000 bales fell to the share of Great Britain; drawal of
Alsace,
with its 1,700,000 spindles, from France forced
the total increase between 1870-71 and 1877-78 was
1,097,000 up the price of cotton
products in France to such a height as
bales, but Great Britain, so far from participating in til's increase, admitted of
larger imports of yarns and goods from England at a
actually consumed 5,000 bales less in 1877-78 than in 1870-71;
profit than would otherwise have been the case; but the table
and yet, in the face of these
indisputable facts, we are told by shows that whatever
advantage was gained by Englan 1 during
the leaders of the operatives, and by others who claim to be lead¬
and immediately after the war, has since been
more than lost—
ers of public opinion,
that Lancashire is suffering not from the total
exports of yarns and goods (reduced to pounds at the
foreign competition, bat from over-production ! These writers rate of five
yards to the pound) last season totiie countries named
appear to have no idea of foreign competition, except that which
being less than in 1868-69, and considerably less than in 1861.
forces itself upon their notice in our own shops and warehouses.
In the last column of the table we have reduced the
yarns and
But our spinners and manufacturers are not afraid of
foreign goods exported to their equivalent in raw cotton. The
figures
competition at home. They know that the quantity of American show that the decrease in the
exports
since
1872-73
is
to
equal
or other foreign cotton
products imported into England is a mere 120,000 bales of cotton of 400 lbs.
each—representing
a loss of
trifle, and can never assume serious proportions. But what they trade to our
spinners and manufacturers equal to over 2,300 bales
are afraid of is the
competition of America, the Continent and of cotton per week. The
present population of France is about
India in outside markets.
The total annual consumption of
36,350,000, of Germany 43,500,000, of Holland 3,810,000, of Bel¬
cotton in Great Britain may be
roughly stated at 1,250,000,000 gium 5,450,COO, of Austria
38,200,000, and of Italy 27,770,000,
lbs.
About one-fifth is worked up into goods suitable for home
making a total of 155,080,000. The exports of yarns and goods
consumption; the remaining four-fifths are converted into goods to these countries in 1877-78 amounted to
155,700,000 lbs., or
suitable for export. Our manufacturers have no fear of
foreign about 1 lb. per head. In 1861 the population was about 140,000,competition in respect of the 250 millions consumed at home, but 000, and the
export 170,000,000 lbs., or 121 lbs. per head. Even
they have very grave fears indeed in respect to the 1,000 millions the
greatly diminished trade of Jast season is therefore 20
season.
sent
abroad.
That the
war
-,
^
Germany, caused
.
per
cent less in
proportion to population than it was in 1861. Besides
this gradual decrease in our exports to the
Coutinent, our manu¬
facturers have almost entirely lost the American
trade, our
exports to the United States last season being only 47,400,000
yards, against 226,800,000 yards in 1860; while within a v6ry
recent period mills have been erected in India
capable of turning
out between 400.000,000 and 500,000,000
yaids of calico, the
greater part of which would otherwise have been troduced in
production of cotton goods during the past few sea¬
enough, though
it is hard to say how much of the excess is due to a
temporary
reduction in the power of consumption, owing to deficient har¬
vests and bad trade, and how much to what is
vaguely termed
over-production; but certainly whatever excess there may have
been cannot be laid to the charge of Lancashire.
Our numerous Continental correspondents
complain of over¬ England.
«
production in England, but they all appear to be perfectly uncon¬
Throughout the world, in fact, the markets for the products of
scious of anything approaching over-production on the
Continent, Lancashire are becoming more and more insecure in consequence
and yet it is a fact fully set forth in the
following table, that of the activity of successful rivals, who are taking lower prices
whereas the weight of cotton consumed in Great Britain
during than Lancashire can, under present circumstances, afford to
the past season was l£ss than in any of the
previous seven accept. The obvious remedy for this state of
things is—reduced
seasons, the weight consumed on the Continent
gradually cost of production. But the operatives, whose partiality for
increased from season to season :
high wages is pardonable, the Continental spinner, whose desire
tb get rid of a competitor is excusable, and a few
public writers,
Great Britain.
Continent.
whose misconception of the entire situation is unpardonable,
say
Season of
Deliveries, Consumption,
Deliveries,
Consumption, that the proper remedy is reduced
that
to
production,
is
say—
pounds.
pounds.
pounds.
pounds.
short:time ” in England. Of course the operatives and their
1,263,024,000 1,195,272,000
898,700,000; 784,700,000
1,127,520,000 1,195,272,000
693,350,000; 788,350,000 advocates would like to see production reduced abroad; but in
1,280,640,000 1,227,453,000
802,638,000
821,638,000 the absence of this they insist that “short-time” shall be
adopted
1,240,706,000 1,259,836,000
893,113,000: 872,000,000
1,198,838,000 1,224,377,000
Curtailed production, they say, would raise the price
894,262,000 915,375,000 at home.
1,270,287,000 1,270,287,000 1,026,374,000* 961,143,000
of goods to a paying level and render a reduction in the rate of
1,278,538,000 1,273.256,000!
920,032,000 979,895,000
1,193,158,000 1,193,158,000 1,014,597,000! 989,415,000
wages unnecessary; and they would rather work three or four
Total.... 9,852,711,000 9,838,911,000
7,143,066,000^7,112,516,000 days a week at a full rate, than six days at a reduced rate,
although their actual earnings during the continuanc of shortThe difference between the two
totals—13,800,000 lbs. for time would be reduced 33 to 50 per cent accordingly as they
Great Britain and 30,550,000 lbs. for the
Continent—represents worked four or three days per week.
the surplus unconsumed stock of cotton in the mills at the close
It is perfectly true that reduced production would tend to raise
of the last season.
English spinners held a heavy surplus stock prices; but it would also raise the cost of production, as the
at the end of the season 1870-71, but
they held no surplus what¬ fixed expenses (a very large item) of the mills would have to be
ever at the close of the
following season, and it was supposed at spread over the out-turn of three or four days instead of six, and
the time that the weight of cotton spun was about the same in in this
way the advance in prices ^.would either in part or whole
both seasons.
be absorbed by the increased cost of production.
But the adop¬
It is said that the Continental markets have been flooded with tion of such a
policy as this would be simply suicidal. The
English yarns and goods. That there is some misapprehension advance in prices to which it would lead would render foreign
sons
has exceeded the wants of the world is true
“
506
THE CHRONICLE
competition more powerful than ever. It is in point of fact
precisely what our Continental, American, and Indian competitors
are
longing to see, as it would enable them to increase the sale
[VoL. XXVll
convulsed
more
by an unpleasant re-opening of the
caution will be needed in
selling than in
Eastern Question,
buying at 5 5-16d.
to 5|d. for
middling upland. But, as a matter of fact, there are
products, and obtain a foothold in the outside markets < f many
people who are confidently looking for 5d. as the eventual
the world, from which it would be
difficult, if not impossible, result of the present demoralizalion, after which,
they say, will
afterwards to dislodge them.
A good customer is far easier lost come a sharp re-action.
Provided,
however,
no new political
than regained.
complications arise, we are inclined to think that matters will
We know that it will be said that we cannot
expect always to begin to improve before so low a figure as 5d. is touched. One
hold a pre-eminent position in the world as
manufacturers of thing is very
certain—namely, that the fall in prices will do more
calico; that we must expect other nations to become more inde¬ than
any other influence to lift the cotton industry of Europe out
pendent in the matter of shirtings; and that we must be satisfied of its long-continued condition of extreme
depression and un¬
with a slower growth of our
manufacturing system than we have profitableness.
hitherto ei-joyed; but
surely it is our duty as well as our interest
The present average rate of
consumption in Grtat Britain is
to retain the
position which we hold as long as we can; to resist generally estimated at about
45,000 bales of 400 lbs. per week, or
the tendency towards
decay until resistance is no longer possible; 30 per cent below a full rate—which is 62,600 bales
per week.
and not tamely to submit to an
ignominious defeat. If (to use a
hackneyed, but very appropriate illustration) the advent of Lord
©0mttuercial
Macaulay’s New Zealander is inevitable, that is not a reason that
of their
,
ptmuelargg
should hasten his arrival.
we
That bad trade is
compelling
flews
BITES OF EKCH4NGE AT LONDON AND ON
LONDON
AT LATEST DATES.
producers to go on to “ short-time,’’ and others to close
altogether, is true enough; but that does not justify
jftXCHA N<4K AT LONDON—
the position taken
NOVEMBER 1.
up by the operatives and their leaders. What
they wanted Lancashire to do was to reduce the rate of
ON—
TIN 3.
BATE.
consump¬
tion irrespective of what was
going on elsewhere, just as if the Paris
short.
25.28% @2538%
manufacturing of cotton goods was a British monopoly. Now, Paris...
3 mos.
25.52% @25.5754
Berlin
20.78 (£$20.82
however, bad trade has compelled some of our competitors, as
>20.78 ©20.82
Samburg
well as ourselves, to resort to ‘4 short-time.”
20.78 @20.82
This will prevent Frankfort
25.60 @25.t>5
Antwerp
our rivals
obtaining so strong a foothold in the markets as they Amsterdam.
short.
12.2*4 @12.3%
Amsterdam
3 mos.
would have obtained, if we alone resorted to
12.5% @12.5%
reduced production; Vienna
12.10
some
their mills
-
4ft
«;
(
«%
....
ii
..
EXCHANGE ON LONDON.
LATEST
DATE,
Nov.
•
•
TIME.
1.
•
BATE.
short.
•
25.32
....
Nov. ,1.
Nov. 1.
Nov. 1.
Nov. 1.
NoY. 1.
....
short.
3 mos.
fchoit.
20.52
20.52
20.52
25.35
12.05
<4
St
...
••
and enable
us
to avail ourselves of
it comes, much sooner than
the
improved demand, when
if
Genoa
4ft
Naples
ftft
spinners and manufacturers had Madrid
put into practice the mischievous but plausible theories which Cadiz
Lisbon
have mystified the otherwise clear intellects of
several public Alexandria....
New York
writers, and not a little puzzled a number of people
belonging
to R:o Janiero...
that section of the
Valparaiso....
community known as the outside public.
....
ELLISON & CO.,
Street, Liverpool,
Cotton Brokers.
October 30th, 1878.
P. S.—October 30.
The publication of our
report has been
unavoidably delayed, owing to our anxiety to get the latest and
most complete information from the
Continent.
7 Rumford
Our review of the
of
course
of the market comes down to the
close
September, at which date middling upland
the spot and 6 3-32d.
on
impression
was
reduced that
a
quoted at O^d.
The prevalent
was
for'distant futures.
that the stock of cotton would be
so
seriously
further rise in prices would be witnessed in
Octo-
ber-November; but
the destruction of confidence, occasioned
by
City of Glasgow Bank on the 2d
October, followed by the failures of Messrs. Smith,
Fleming &
Co. (Oct. 4), Messrs. Heugh, Balfour & Co. Oct.
11), and others,
has completely demoralized the markets both in
Liverpool and
Manchester. The spot demand has fallen to
the unexpected stoppage of the
exceedingly small
dimensions; the supposed October “ corner” for futures has
collapsed, and prices have receded to 52d. on the spot and
5fd.
for distant futures.
The tone at the close is flat and
depressed. The restriction of
financial accommodation,
owing to the late failures, has paralyzed
the shipping business in
Manchester, and compelled spinners and
manufacturers to curtail the out-turn of their mills.
This reduced
rate of consumption has obviated the
scarcity of cotton
one
time it
arrival
wag
thought would be experienced before
which,
at
the free
of the new
crop. The downward course of prices has
been further accelerated
by the rapid decline at the American
ports. While the market has been
adversely affected, like every
other business centre,
by the actual and threatened political diffi¬
culties in the East, which are
harassing trade
in general
throughout the world.
We have already stated
that, so far as can be seen at present,
the probability is that a lower
range of prices will be
witnessed in 1878-79 than
Bomoay
ii
•
days.
•
•
•
•
•
»
.
.
•
•
•
•
60
Song Kong...
Shanghai
•
•
•
•
1.
1.
3 mos.
short.
•
...
Is.
Is.
.
....
Oct. 30.
3
Oct. 31.
Oct. 2.
60
LFrom
•
...
.
•
•
•
•
days.
Oct. 28.
Oct. 23.
6
oar own
mos.
4ft
44
44
.
•
•
mos
90 days.
Oct. 27.
Oct. 27.
J
The Bank return
....
.
....,
95%
4.82^
2.1%
Sept. 13.
734d.
?%(/.
•
•. • •
117.50
27.45
@28.45
46%@46%
51% @51 y2
days.
ftft
Calcutta
Nov.
Nov.
46i/3
ll
90
@12.15
@28.45
28.35
23.35
«•••
Is.
Is.
3s.
5s.
57
7
7
8yid.
2 34 tf.
correspondent.!
London, Saturday, November 2, 187&
published this week is of a more favorable
character, and there are indications of
dence.
It is generally expected that the
steady return of confi¬
of recovery will
be a slow one; but at the same time the
tendency is in the right
direction, and capitalists may quickly discover that to employ
money at a reduced rate is more profitable than to allow it to
remain idle while the rate remains at the
comparatively nominal
figure of 6 per cent. During the present week the tendency of
money has been downward, with a renewed demand for choice
paper on French account, and business hag been done as low a»
5 per cent; but the more general
quotation is 5f to 5| per cent.
It is an important circumstance that so
many of the banks in this
country have devoted their attention of late years to large
accounts, to the prejudice of their own interests, as well as of the
general community. It requires no learning and not much intuit¬
ion to realize this fact—that the directors and
managers of banks
should so place the capital and
deposits at their command that
when they are required they may be obtainable within a reasona¬
ble period.
The large accounts of our leading firms, desirable
as it is for a bank to hold
them, are not remunerative. The
firms in this city of undoubted soundness do
very little discount
business, while those firms which, from injudicious support, have
sprung up during the last twenty years, and which transacted
with the banks a large discount business, have
proved a heavy
burden, and have caused to bank managers great anxiety. It
may, perhaps, simplify bank management to operate on a com¬
paratively limited area; but such a policy is short-sighted, as the
opportunity is lost of acquiring a knowledge of minor firms,
whose credit is good and whose
bills, though never regarded as
choice, are safer than those of firms who deal recklessly in mil-'
lions.
As soon as a few of these “
big” firms collapse, bank
directors are alarmed.
They know not whom to trust, and at the
present time many a firm, whose method of conducting busi¬
ness has
always been [sound’and upright finds bank managers
a
process
current in
1877-78; but after so
period of depression, and with a prospective
supply of
^cotton less than the reduced
consumption of last year, and
considerably less than a full rate of consumption, the chances are
against so Iowan average of prices for the season as the rates
now
current for distant deliveries.
Our estimated
supply (including a inconveniently exact. Were the directors to exercise mors
5£-million American crop), as shown
previously in this report, is pains, and to spread their available funds over a
wider area, it
242,000 bales over last year’s curtailed
consumption; but as the would be more difficult to lose
stocks in the ports at the close of
large
sums
of
money.
We repeat
the season were
345,000 bales then, that the fault has been for
less than a year
many years past, that firms con¬
previously, there is a net deficit of 103,003 bales
ducting a large, speculative and reckless business have been
for the new season,
supposing consumption to show no increase.
acquiring an improper share of discount accommodation, to the
One would think,
therefore, that unless Europe is going to be detriment of honest
traders, and unfortunately, at the present
long
a
was
November 16,
1878.]
THE CHRONICLE.
time, both honest and dishonest traders are served much
alike;
hence, it is feared that from the want of reasonable
support,
profitable alike to lender and borrower, some good firms
507
Coin and bullion in
both departments
Proportion of reserve
to liabilities
may be
compelled to suspend payment, through being refused the facili¬
ties upon which the
Bank-rate
majority of merchants calculate. A prominent Consols
feature, however, of the present week is that rather more desire English wheat,av.price
No. 40 mule twist
to lend is
evinced, and that there has been some relaxation of the Mid. Upland
cotton...
Clearing House return.
stringency which has been apparent since the City of
Glasgow
Bank
The
14526781
stopped payment.
During the week embraced in the last Bank return, the Bank
of England gained a
supply of gold, according to the daily state¬
ments, of £1,007,000. The actual increase in the
supply of gold
held by the Bank in the week is
£1,199,313, so that there has
been a return of
nearly £300,000 from provincial circulation.
This is a very important
feature, and, now that the movement has
commenced, a continuance of it, and upon an increased
scale, is
anticipated. It is very generally believed that,
although more
failures are likdly to take
place, the worst of the crisis has been
surmounted; and it has been remarked by many,
aDd especially
by the French and Germans on
’Change, that had it not been for
the good sense which has
been exhibited by the
public, a severe
panic might have resulted. The
j udgment of the press and of
the public that the recent
failures would be
comparatively limited
in their disastrous effects
has, thus far, been verified, and a steady
return of
confidence is looked forward to.
all fictitious
support has been
It is
hoped,
that
now
withdrawn, manufacturers will
find it possible to
procure cotton at a price which will
yield
them a moderate
profit on the sale of their goods, and some
encouragement to do business is therefore
anticipated. Were it
not for the fact that the
state of politics is
very dubious, and that
we are
rapidly approaching the close of the year, there
might be
some disposition to extend
business; but the facts we have cited
have an adverse
effect, and there is consequently more inclination
shown to curtail than extend
...
manufacturing districts are
fears that throughout the winter
there will be much distress
There has been
the operative classes.
scarcely any
change in the note circulation, and the increase in the total
reserve amounts to
£1,172,473, the proportion of reserve to
liabilities being 33*03 per
cent against 29 48 per cent last week.
The demand for
money at the Bank has been restricted, there
being a falling off of £669,251 in “ other securities;”
and the
Government appear to have
repaid the Bank a sum of
£300,000. “ Other deposits” have been augmented
by £451,555,
indicating'that the banks still possess large balances at the Bank
of England, the total of those
deposits being £28,310,943,
against £21,400,826 last year. Since the panic there has
among
been an
increase under this head of about
£8,000,000. Business has been
very much curtailed of late, and it is safe to
say that when
the tendency to lower rates of
discount becomes quite
distinct, the
relapse will be both rapid and important.
1877.
£
15,447,159
1876,
1875.
£
1874.
23,541,819
21,098,541
£
22,791,142 33,031,541
33-03
37*
£
54-52
6 p. c.
5 p. c.
94*
2 p. c.
96%
4 p. c.
95%
94*
...
39s. Od.
53s. 7d.
47s. Id.
9*d.
5%d.
J0%d.
10%d.
6%d.
6 7-16d.
4
D. c.
93*
47s. 4d.
44s. Id.
Is. 0*d.
10*d.
7d.
7%d.
silver market has been firmer and the
price of fine bars has
risen to 50£d. per ounce. A
portion of the supply of Indian
Council bills was sold on
Wednesday at Is. 7£d the rupee, and
next week
only £209,000 will be tendered for. This has had a
good effect upon the silver market. The
following are the.
present quotations for bullion :
Bar
Bar
GOLD.
Gold, fine
Gold, refinable
per
per
per
per
Five Franc Pieces
Quicksilver, £6 15s. Od.
following
77
77
73
73
76
oz.
oz.
oz.
oz.
10tf@
9
O
S ®
3*0
76
3*0
SILVER.
Bar Silver, fine
Bar Silver, con’ng 5
grs. Gold
Mexican Dollars
The
d.
8. d.
9 @
s.
per oz. standard.
per oz. standard.
Spanish Doubloons
South American Doubloons
United States Gold Coin
German gold coin
d.
per oz. standard.
per oz. standard.
per oz.
per oz.
Discount, 3 per cent.
return, computed by Messrs.
extent of
d.
50*0
50% O
49
O
O
..
Pixley, shows the
the exports of silver from
Southampton to
China and the Straits to this date in
each year:
Year.
1873..
China.
£1,383,465
2,846.327
"
are
foreign markets
723.894
1,273,757
1,764,875
Straits.
£677,718
1,284,305
India
Total.
.£3,712,473
5,654,451
1,308,870
1,484,851
'870,120
2,497,576
7,092,726
3,714,404
9,450,783
15,867,223
6,137,530
'
755,461
1,484,433
1,437,390
788,090
the current rates of discount at the
principal
:
Pans
Brussels
Amsterdam
Bank
Open
rate,
p. c.
3
mark’t.
4*
Berlin
Hamburg
Frankfort
Leipzig
Genoa
Geneva
The total
1/23,819
768,416
1,658,855
420.290
3,949,020
2. 20,390
7,388,565
12,617,915
2,972,050
1S77
1878
Annexed
India.
£1,651,290
production.
The reports from the
far from
consoling, and there are
1878.
£
p. c.
3 "
4
1
| St. Petersburg
1
Vienna and Trieste...
Madrid.Cadizand Bar¬
celona
Lisbon and Oporto....
New York
4
4
5
4*
5
5
5
4
4*
4*
4Yt
J Calcutta
4%
4*
j Copenhagen
4
Bank
Open
rate,
p. c.
6
mark’t.
p. c.
5
4*
4*
6
6
6@7
6®7
4*®6
4
....
4@4*
4@4*
capital commitments in the month of October
have amounted to
£2,394,230, while the actual money payments
upon these and previous subscriptions have been
£2,264,305 in this
country alone. During the first ten months of the
present year
the subscriptions effected in Great Britain
have reached a total of
£31,644,422, as against £25,152,710 in 1877 ; while the
money
new
payments have been
£31,193,227,- against £24,492,104. The only
companies introduced have been the Chester
Tramways
Company, with a capital of £32,000 in £10 shares, and the
Isabelle Gold & Silver
Mining Company first issue of £50,000 in
£20 shares, out of a total of
The gold movement has this
£150,000. The amount as given
week been quite in favor of
this above is, however, increased
by new issues of capital on the part
country. According to Messrs. Pixley & Abell’s
circular, the of the Caledonian and Midland
Railway Companies.
imports during the week have amounted to
£1,716,616, and the
It is understood that the new
Egyptian loan will be introduced
exports to only £103,500. The imports of silver have
been £281,by Messrs. Rothschild next week.
The amount will be for
653, and the exports, £100,635.
£8,500,000, in a five per cent stock.
The demand for
money during the week has been
The trade for wheat continues
only
very quiet, but choice qualities
moderate, but a certain degree of firmness has
prevailed,
of produce have, in some
capital¬
ists being still
instances,
realized rather more money.
very reluctant to lend. The market
closes, how¬ There is, as is well known, a
ever, with a somewhat easier
scarcity of sound home-grown
appearance, at the.following quota¬
wheat, and hence there is a disposition shown to hold out for full
tions:
Bank rate./
Open-market rates:
Fer cent. J
6
|
[
30 and 60days’ bills
3 months’bills....
5%@5% !
The rates of interest allowed
discount houses for deposits are
Open-market
rates:
Per cent.
4 months’bank bills
5k<a5*
6 months’bank bills
5*(a5*
4 and 6 months’ trade
bills. 5* <2 6
-
by the joint-stock banks
subjoined:
Per cent.
4%
Joint-stock banks
Discount houses at call
Discount nouses with 7 days’ notice.
Discount houses with 14 days’ notice
Annexed is
and
.....
4%
4%
4\
statement showing the
present position of the
England, the Bank rate of discount, the price of
Consols,
the average quotation for
English wheat, the price of middling
upland cotton, of No. 40 mule twist, fair second
quality, and the
Bankers’ Clearing House
return, compared with the four
a
Bank of
pre¬
vious years:
Circulation, including
bank post bills
Public deposits
1S73.
£
30,361.217
2,715.768
Other deposits
28,310,943
Government securities. 16,037,672
Other securities
22,642.589
Reserve
coin
of
notes and
10,338,731
187T.
£
28,428,597
4,080,473
21,401,826
15.123,604
18,633,156
9,878,797
1376.
£
1875.
1874.
£
£
29,149,264 29,083.756 27,691,238
5,731,462
3,312,619
3,736,997
29,103,020 21,208,285 19,585,331
17,008,228 12,571,095 14,041,832
16,639,955 19,964,S55 18,538,362
19,218,686
9,852,2:6
8,829,C21
new
terms for the better
qualities of foreign produce. Good and fine
qualities of malting barley are dear, and it is worth
noticing that,
although the average price of English wheat is only 39s., that of
barley is 40s. 5d. per quarter. The low average of the former is
due, in great measure, to the poverty of the
quality, numerous
parcels having been sold since harvest at 30s. to 35s.
per quarter.
The following figures show the
imports and exports of cereal
produce into and from the United Kingdom since harvest,
viz.,
September 1, to the close of last week, [compared with the cor¬
responding period in the three previous years:
IMPORTS.
1878.
Wheat
Barley
Oats
Peas
Beans
Indian Corn
1877.
1876.
9,822,997
2,036,415
6,276,804
2,334,285
12,500,237
2,062,371
195,778
1,841,245
110,596
627,461
4,469,161
2,221 528
192,999
..
Flour.
v
313,191
816.657
918.069
7,012,992
1,151,125
5,204,545
1,147,373
8/394,129
999,645
1875.
1,535,224
1,014,611
EXPORTS.
Wheat
Barley
Oats...
Peas
Beans
Indian Corn
Flour
,
........
3,346
363,38!
19,414
193.413
2,535
4.885
23.802
3.408
4,076
22,354
42,208
1,816
3,a39
1,263
61.2C5
25,331
1,163
114.849
18,148
6,901
9,207
63,313
2,290
7,447
3,053
)
508
THE CHRONICLE
201,800 quarters, against 193,200 quarters in 1877. Since harvest
the sales in the 150 principal markets have been 512.263 quarters,
against 442,705 quarters; and it is computed that tliev Lave
been in the whole Kingdom 2,049,000 quarters, against 1,771,000
quarters in the corresponding period of last season. Without
reckoning the supplies furnished ex-granary at the commence¬
ment of the season, it is estimated that the
following quantities
of wheat and flour have been placed upon the British markets
since harvest: '
1877.
cwt.
cwt.
cwt.
9,761.527
1.151,125
8,879,20)
9,822.997
1,147,378
7,673,500
6,276,804
12,500,237
1,015.611
7,620,600
19,791,852
505,341
18,643.675
370,282
Imports of wheat
Imports of flour
Bales of
home-grown produce
Total
Exports of wheat and floor
Result
Aver, price of Eng. wheat for
1875
999,645
8,703,000
15,979,449
202,623
21,114,443
66,426
19,286,511
18,213.593
15.776,829
21.019,022
42s. lid.
56s. 7d.
46s. 7d.
47-*. 3d.
season
Richmond..Liverpool.
Total since Jan.
Same time in—
1
I
1877
1876
1875
1874
1873
1872.
EngliftU Market Reports—Per Cable.
daily closing quotations in the markets of London and
Liverpool for the past week, as reported by cable, are shown in
the following summary:
London
of
Money and Stock Market.—The bullion
England has increased £271,000 during the week.
Sat.
Tues.
Nov It. Nov. 12.
Mon.
Nov. 9.
L. 50 7-16
'. 95 7-16
95 9-16
..
..109*
50*
95 7-16
95 9-16
95 7-16
95 9-16
108*
108*
.
.107
106*
19i*
.
19*
80
.
Pennsylvania.
.
*
.
.
•
•
50*
95*
109*
20*
•
Mon.
Sat.
d.
s.
Flour (extra State).. ..^bbi. 24
21
9
0
6
d
0
1 1870
9
6
8
9
3
0
8 3
9 0
9 2
9 8
9 11
21 3
24 0
Wheat, spring, No.l 1? 101 tb
do
do
do
do
do
do No. 2 new “
winter W. new
Southern,
new.
“
9
Av. Cal. white.. “
Cal. club
“
2
9 8
9 11
Corn, mixed soft, old, # qr. 24
do prime, new
“
21
3
0
d.
24 0
s.
...
45,368,440 |1 1868
*
...
...
Nov. 7—Str.
Wed.
d.
21 0
45.906,155 1 1867
;
■
.
8
•
.
4
0
9
9
0
8
9
4
0
8
9 10
24 s
9 2
9
8
9 10
24 3
23
23
9
9
9
4
0
Hadji
Sat.
d.
s.
Pork, Western mess..^ bbl. 41
Bacon, long cl’r, new. $ cwt. 31
Bacon, short ci’r, new
“
32
Beef, prime mess
$ tc. 66
Lard, prime West..cwt. 33
Cheese. Amer. choice.
“
0
0
Mon.
s.
d.
s.
d.
44
0
6
6
44
44
29
3)
0
0
31
0
0
0
6
33
47
9
0
33
47
6
0
0
s.
44
30
9
0
33
47
Liverpool Produce Market.-
“
Sat.
d.
37 0
23 0
4 9
“
10
Mon.
s.
Tallow, prime City.. $ cwt
Spirits turpentine
Rosin, common
Rosin, fine
Petroleum, refined..
Petroleum, spirits
.
.
s.
37
Tues.
d.
0
d.
44
e
29
30
0
0
6
29
30
0
0
33
47
9
0
33
47
6
0
4
10
Wed.
Thur.
s.
d.
s.
d.
s.
37
23
0
:-.7
0
23
37
22
9
4
9
4
0
10
0
10
0
0
9
0
(t
0
^ gal.
Fri.
....
9
0
47
Wed.
d.
30
31
U
Tiles.
s.
d.
Fri
d.
37 0
22 6
p.
4
0
6
9
10
0
4
9
10
0
Sli
“
....
...
10
...
....
Commercial ancUlIisceUauco us iTcuts.
Imports
Exports
and
for
the
Week.—The imports of
last week, compared with those of the
preceding week, show an
increase in dry goods and a decrease in
general merchandise.
The totai imports were $5,079,836,
against $6,071,200 the pre¬
ceding week and $>,563,516 two weeks previous. The exports
for the week ended Nov. 12 amounted to
$6,391,896,
against
5,986,068 last week and $$5,696,537 the previous week. The
following are the imports at New York for week ending (for
dry goods) Nov. 7 and lor the week ending (for general
merchandise) Nov. 8:
FOREIGN IMrORTS AT NEW YORK FOR THE
WEEK.
1875.
Dry Goode
Previously reported....
Since
In
of
January 1
our
...
report of
dry goods for
—
1877.
1878.
2,S06,4?5
$359,048
2,779,-130
$735,603
4,036,733
$1,336,871
$4,135,565
286,159,061
$3,768,378
245,357,316
$4,772,341
276,563,516
$5,079,636
243,737,545
$290,294,626
$219,125,694
$281,340,857
$248,857,381
General merchandise...
Total for the week..
1876.
$1,323,090
3,742,965
the dry goods trade will be found the imports
one
week later.
The following is a statement of the
exports (exclusive of specie)
from the port o! New York to
foreign ports for the week ending
Nov. 12:
JrxrORTS FROM NEW YORK FOR THE WEEK.
1875.
$5,815,233
1876.
3,840
2,400
9,145
Amer.
gold
1,000
6,531
22,521
Gold dust
Foreign gold
Amer. gold..
19,327
....
1868
6,471,053
2,892.411
..
Aspinwall..
9,914,550
11.495,989
5,480,150
15,718,lt6
5,347.772
.
as
follows:
9
.
...
Coin
Same time
11......
305,000
12
13
14
15
334.000
263,000
374,000
27 >,000
9i(),96') ?5
31
76
1,554,5 >6
2,988,014
857,79 5
1,295, lb5
37
71
m—
11,216.018
14.845,769
1866
Receipts.
$122 000 $1,450,715 63
$284,563
.,
silver, and $7,021,120 gold)..$18,227,560
The transactions for the week at the
”
Thur.
s. d.
Liverpool Provisions Market.—
Amer. silver
Foreign gold
Amer. gold
$8,409,318
1876
1875
1874
1873
1872
“
9
2
9
8
9 10
21
3
23 9
$4,300
173,737
10,943
1871
1870
“
8 3
8 10
9
0
9
6
9
9
?4 3
23 9
.
Total since Tan. 1, 1878 ($11,206,440
Same time in—
1877
.....$12,765,219
“
_
8
9
..
17,942,992
Nov
F n.
d.
21 0
,
66,833,905 1 18%
,
p.
30,012,562
68.453,480
44,377,729
57,150,013
..
Total for the week ($211,719 silver, and $62,849
gold) ...
Previously reported ($10,984,721 silver, and$6,958,271 gold),...
“
Thur.
d.
24 0
'
29,751
1,073
14
8.
1869.
Amer. silver
on cotton.
s.
1
66,195,085
Nov. 6—Str. Clyde
33*
13*
Same time in—•
The imports of specie at this port during the same periods have
been as follows :
81*
x 33*
18697.
$253,986
11,189,174
1871
...
Customs.
20
81*4
....
Tues.
109*
108*
106*
xlOB
20
107*
Liverpool Cvttrn Market.—See special report
Liverpool Breadstuff's Market.
s.
50*
109*
108*
10S*
81
•
Fri.
Nov. 15.
95 15-16,
95 15-16
96 1-16
95 15-16 96
1-16
109
109
’-04*
81
mi
N. Y. Central.
50*
108*
109*
107*
10(5*
20*
106
Thur.
Nov. 14.
Nov. 13.
50*
109*
U. S. 5s of 1881..
U. S. 4*8 of 1891.
Wed.
in the Bank
4,000
11,000
1, 1878 ($5,636,001 silver, and $5,807,109 gold)....$11,443,110
Nov. 8—Str. Andes
The
.Amer. ell. * dols.
Amer. silver bare.
Total for the week ($243,936 silver, and $8,000 gold)
Previously reported ($5,390,063 silver, and $5,799,109 gold)
Nov. 4—Str. Bahama
Nov. 6—Str. €hty of Merida....
1878.
cwt.
1876.
Nov. 9—Str. City of
|
wheat in the 150 principal markets of England and Wales
amounted to 50,433 quarters, against 48,298 quarters last year;
and it is estimated that in the whole Kingdom they were
| VoL. XXVII.
1
During the week ended Oct. 26, the sales of home-grown
*
/
9,C95,798
Sub-Treasury have been
^
Payments.
.
Currency.
Coin.
$383,525 % $1,744,678 41
644,540 49 1,592,714 01
233,904 34 2,015,412 91
524,508 11 1,138,230 18
716,987 32
931,933 28
455,394 72
515,042 04
Currency.
$515,372 87
695.046 92
2S6.831 10
323.864 32
451,647 45
327,313 34
Total
$.1,703,0:0 $9,087,188 33 $3,008,856 41 $7,938,011 % $2,602,076 00
Balance, Nov. S
127,831.373 90 46,379,796 22
Balance, Nov. 15
128,980,550 78 46,786,576 66
United States Four Par Cent Bonds.—The
following
was issued
by the Treasury Department at Washington Nov. 13:
Any person subscribing hereafter for 4 per cent bonds, consols of 1907,
authorized by the art of July 14, 1870, may pay for them with any of the 5-20
bonds of the act of March 3, 1865. ‘redeemab’e at the pleasure ot the United
States after the 1st day of July, 1870,’ in the same way as if
they were cal'ed at
the date of subscription in regular course; but the suoscriber, to avail himself
of this privilege, must accompany the
subsc.ipt'on with a full description of
such bonds by numbers and denominations, and must within
thirty days
thereaftei forward the bonds to this department to be app ied like called
"
bonds.
“
Of the amount issued of the above deset ibed 5-23 bonds there is now out¬
standing and uncalled the amount of $26,085,750.
"John Sherman. Secretary.”
Littell’s Living Age for 1879.—The extra off^r to new sub¬
scribers for 1879, and the reduced clubbing rates, are worthy
of
not* in the prospectus of this standard
periodical. The success
of The Living Age is well attested by the fact that on the 1st of
January
it begins its one hundred and fortieth volume. It
compendium of a current literature which is now
replete with the work of the ablest writers upon all topics of
affords
a
next
rich
interest.
It merits careful attention in
reading matter for the
making
a
selection of
new year.
—The Southern Nevada Mining
Company of Reno, Nevada,
have recently opened an office in this city, at 52
Broadway, with
Mr. H. L. Bean as agent.
They offer $25,000 worth of the stock
at the low
price of $1 per share, in order to buy machinery to
smelt and prepare some three to four hundred tons of ore
already
This mine is said to be situated in a fine mineral section
mined.
of
Nevada; and those desiring to invest in mining ‘ shares will
probably look into the promising offers held out by the company#
—Among the cards of foreign banks and bankers iQ the
Ciironicle will now be found that of the Nederlandsch Indische
Handelsbank of Amsterdam, Holland. This large corporation,
with a-paid-up capital of $4,800,000 gold, lias
agencies at. several
points in the Dutch possessions of the East, and in New York its
correspondents are Messrs. Blake Bros. & Co., 52 Wall street.
—C. N. Jordan, Esq,, chairman of the committee of first mort¬
gage bondholders of the New York & Oswego Midland Railroad,
gives notice that a meeting will be held Dec. 17 proximo, at 11
A. M., in the Del. & Hudson Canal Co. building,
corner Cortlandt
and Church streets, to act on the
proposed compromise with thfe
holders of receivers’ certificates.
—Attention is called
to
Co., which will be found
the card of Messrs.
Inman, Swann &
the last page of the Chronicle.
This firm is one of the most prominent among the cotton commis¬
sion merchants of this city, and a special feature of their busi¬
ness at present is that of
making loans on Southern securities.
on
—Copies of the plan for re-organization, the committee’s report,
or agreement to be signed by holders of the Illinois &
Previously repotted.... 212,062,359
225,635.964
294,625,474 St. Louis
and St. Louis Tunnel Railroad, can be had at the
Bridge
Since January 1
$217,377,592 $230,219,313 $249,862,230 $301,017,370 office ot Drexel, Morgan & Co.
The following will show the
—Mr. F. E. Trowbridge, banker and broker, 7 Broad street
exports of SDecie from the port of
New York for the week
ending Nov. 9, 1878, and also a com¬ makes a specialty of dealing in certain Western railway and city
parison of the total since Jan. 1, 1878, with the
corresponding bonds held in high repute in this market, as may be seen by his
totals for several previous
years:
card on the fourth page of the Chronicle.
Nov. 7—Str. Baltic
__
,
For the week
....
...
$4,583,319
1877.
1878.
$7,465,449
242,356,781
$6,391,8%
and forms
...
Liverpool
Mex. silver dols
.
Amer. silver bars.
~
‘
Nov. 7—Str. Crescent City
Nov. 9—Str. Main
„
Panama
London
Amer. sil. * dols.
Amer. gold coin..
Mex. silver dols..
$146,936
57,000
5,COO
8,COO
22,COO
—Mr. Daniel A. Moran offers for investment a limited amount
of the Delaware Lackawanna & Western Railroad
mortgage bonds*
which are entitled to rank among the
this market.
high.class securities of
November 10,
THE CHRONICLE.
1878.]
’£lie
Interest
Period.
gbwltcrs' ©a^jettje.
No National Banks organized during the past
week.
DIVIDENDS.
The following dividends have recently been announced :
Pffc
Name
of
Cent.
Company.
When
Payable.
Books Closed
(Day8
inclusive.)
Railroads.
Boston Concord & Montreal, pref
Catawissa, pref
!
3
Nov.
3H
Seaboard & Roanoke
8%
Wilmington & Weldon
3
Nov. 19
On dem.
Nov. 30
[18
FRIDAY, NOV. 15, 1878-5 P. M.
Situation.—There has
The Money Market and Financial
been a decidedly healthy tone in financial circles, and the market
for securities is generally stronger.
The most prominent event
of the week having a direct hearing upon the future course of
business transactions, was the meeting of the New York Clearing
House banks, and their resolutions in regard to practical measures
for assisting the Government in its resumption of specie pay¬
ments after the 1st of January, 1879.
The hearty co-operation
in this matter given by the bank officers of New York—which it
is fair to presume will be followed to a great extent by bankers
throughout the country—has added
one more element of con¬
situation, and has fortified the good feel¬
ing previously existing.
Our money-market lias worked easily for call loans at 3@4 per
cent.
Prime commercial paper sells more readily, and choice
grades are quoted at 4per cent.
The Bank of England statement on Thursday showed a gain
for the week of £271,000 in specie, the percentage of reserve to
liabilities being 38§ per cent, against 34$ per cent the previous
week ; the discount rate was left unchanged at G per cent.
The
Bank of France showed an increase in specie of 141,000 francs in
fidence to the financial
the week.
The last statement of the New York City Clearing-House banks,
issued November 9, showed an increase of $2,341,930 in the excess
above their 25 per cent legal reserve, the whole of such excess
being $12,844,200, against $10,502,250 the previous week.
The following table shows the changes from the previous week
and
a
comparison with the two preceding
1878.
Nov. 9.
Differ’ncesfr’m
years.
1877.
Nov. 10.
previous week.
1876.
Nov. 11.
Loans and dis. $240,224,200 Dec.$4,287,600 $235,968,300 $259,652,400
Specie
17,569,100
26,373,200 Inc. 2,229,100
18,764,500
Circulation
19.905.400 Inc.
1,100
17,720,200
15,062,500
Net deposits
210,737,600 Dec. 4,705,800 193,557,300 212,134,500
..
.
Legal tenders.
39.155.400 Dee, 1,063,600
38,503,400
44,160,900
The following abstract shows the condition of the
banks of the United States, at the close of business on
national
June 30,
1878, and on October 1, 1878. The number of banks
was 2,05G, and on October 1, 2,053 :
June 30
llesourccs.
Loans and discounts
Overdrafts
United States bonds to secure circulation
United States bonds to secure deposits...
United States bonds on baud
Other stocks, bonds or mortgages
Due from approved reserve agents.
Due from other national banks
Due from State banks and bankers
s
Real estate, furniture and fixtures
Current expenses and taxes paid
Premiums paid
Checks and other cash items
June 30.
October 1.
$830,521,542
$831,755,390
3,406,908
347,556,050
47,936,850
46,785,600
3,322,742
317,332,100
28,360,000
40,490J900
36,859.534
85,083,418
36,604,996
78,875,055
41,492,918
12,314,698
46,702,476
41,897,858
12,232,316
30,687,806
64,428,600
46,153,409
4,718,618
7,335,454
11,525,376
87,498,287
17,063,576
610,084
29,251.469
71,643,402
32,690,000
15,205,541
36,905,000
15,045,757
1,338,132
1,752,909
6,272,566
7,134,735
10,982,432
82,372,537
16,930,521
Exchanges for Clearing House
Bills of other national banks....
Fractional currency
515,661
Specie
Legal tender notes
on
United States certificates of
deposit for
legal-tender notes
Five per cent redemption fund
Due from United States Treasurer
$1,767,279,133 $1,750,464,706
Total
Individual deposits.
United States deposits
$470,303,366
116,897,779
40,936,213
301,888,092
413,913
3,118,389
118,178,530
40,282,522
299,641,059
417,808
5,466,350
621,637,174
22,681,604
2,903,531
117,845,495
43,360,527
2,453.833
5,022,894
620,236,176
41,654,812
3,342,794
Deposits of U. S. disbursing officers
Due to other national banks
Due to State banks and bankers
Notes and bills rediscounted
Bills payable
122,496,513
42,636,703
3,007,324
4,502,982
$1,767,279,133 $1,750,464,706
Total
United States
ernment
$466,147,436'
Bonds.—There lias been
a
strong tone in gov¬
bonds, and tlie demand has visibly increased during the
past ten days. Yesterday, a cable order for $75,000 United States
4 per cents was received from London.
Prices of many classes of
government securities have advanced nearly 1 per cent since the
elections.
U. S. 6s,
5-208,1867
U. S. 5s, 10-408
5s of 1881
4%s of 1891
Nov.
8.
Nov.
15.
Range since Jan, 1,1878.
Lowest.
108*8 109*8 109*8 105*4 Jan.
Highest.
2 109% June
8
109% 109% 104% Feb. 25 111% July 30
106% 108*4 108% 103% Mch. 1 109*8 July 9
105% 107% x06*8 102*8 Feb. 25 107*4 July 30
109
Closing prices at the N. Y. Board have been
I
as
follows:
reg. J.
& J
1881
coup. J. & J.
5-20s, 1865...reg. J. & J.
5-20s, 1865 .coup. J. & J.
5-20s, 1867...reg. J. & J.
5-20s, 1867 .coup. J. & J.
5-20s, 1868...reg. J. & J.
6s, 5-20s, 1868 .coup. J. & J.
5s, 10-40s
reg. M. & s.
5s, 10-40s
coup. M. tfc s.
5s, fund., 1881...reg. Q-- -Feb.
5s, fund., 1881..coup. Q-- Feb.
4*28, 1891
reg. Q-- Mar.
4*28, 1891
coup.] Q-- Mar. j
48,1907..
reg. I Q- Jan. J
4s, 1907
*
Nov.
9.
Nov.
11.
Nov.
12.
Nov.
13.
Nov.
14.
Nov.
15.
108% 108 34 108% 108% 109*8 109
109
40858 *10858 108% 108% 109
403*8 *103*4 *103*4 *10338 103*2 103**
1033e *103*4 *103*4 *10338 *103*2 *103*2
10638
10638
106*2
10638
108
109
*108
106*2 106*2 1063s
10638 *10638 406%
106*4
106*4
*108
*108
408
109*8 *108*2 *108*2
107*8 107*4 107*2
*107*4
107*4
109
109
109
107*4
107*2 *107%
1075s 107**
*104*2
10458
105% 106
105% *105%
10358 *103%104cs *1045s 104%
100*4
100*4
107*4 107*2
10550 105% 10534 105%
105 5g 1055s 1055s 10534
104*2 x03*2 *1033s *103*2
Jan. | *100*8 *100*6
& J.l 121*2 *121*4
coup.
6s. cur’ey, ’95-99.reg.
104*2
100*8 *100*8 *100*8 100%
100*8 *100*8 100*4 *100%
12138 1215q| *1215s 121%
This is the price bid; no sale was made at the Board.
The range m prices since Jan. 1, 1878, and the amount of each
class of bonds outstanding Nov. 1, 1878, were as follows:
Range since Jan. 1,1878.
Lowest.
6s, 1881
cp.
6s, 5-20s,’65.cp.
68,5-20s,’67.cp.
6s, 5-20s,’68.cp.
5s, 10-408. ..cp.
5s, fund.,’81.cp.
4%s, 1891 ..cp.
4s, 1907
cp.
6s, cur’ncy.reg.
Amount Nov. 1.
Highest.
Registered.
Feb. 25 110% June 27' $197,454,550
22 105*8 June 6j
34,920.700
12 10858 June 27! 111.534.800
2 111*4 June 28;
Jan.
16,078,000
103% Mch. 1 1093s July 29! 144.280.800
102 34 Feb. 25 107% July 30, 244,196,100
105*8
102*4
104*2
106%
July
Aug.
101% Mch.
99% Oct.
117*4 Apr.
1 105
O
o
Aug. 17
102% Jan. 9
May 25
5 122%
161,549,400
111,058,100
64,623,512
Coupon.
$85,281,800
26.715.500
199,079,300
21,387,300
50.285.500
264,244,250
88,450,600
49,441,900
State and Railroad Bonds.—In State bonds Louisiana con¬
sols have been most active, and after selling at higher prices have
fallen off the past two days on free selling orders from New
Orleans.
Virginia bonds are generally stronger.
Railroad bonds have shown a good deal of activity, and many
issues have advanced in price.
There is a strong undertone in
these bonds, and a very moderate demand is sufficient to push up
prices. If it be concluded that gold coin is likely to be tbe
standard of value in the country, hereafter, the prices of bonds
payable in legal tender should all be firmer, and undoubtedly
the result of the late elections is accepted as rendering tlie pros¬
pect of a gold standard more certain than it was before.
The following securities, seldom or never dealt in at tlie Board,,
were sold at auction by Messrs. A. H. Muller & Son:
Shares.
United Railroads of N. J. 129*4
Bank of Manhattan Co... 130
N. Y. Life Ins. & Tr. Co..355%
Mercli. Exeli. Nat. Bank. 62
Fourth National Bank... 05*8
Nat. Bank of Commerce. 116%
Mechanics’ Nat. Bank. ..127
Sixth Av. IiR
v
$700
“
scrip )
24 Manhattan Lifelus.342%2>340
123 Pennsylvania Coal. 150%^ 150
50
43
10
48
24
25
15
10
10
30
37
64
10
\
Shares.
17 Northern Pac. RR.
Globe Fire Ins. Co
8 St. Paul
Duluth
&
RR.
pref. stock, and $59 61
scrip equals $859 61
14%
31 St, Paul
com.
vfe Duluth
RR.
stock, and $51 92
scrip equals $3,151 92..
1%
Bonds.
$4,000 City of Newark (Clin¬
ton Hill Imp.) 7s, reg.,
due 1895; int.Jan.&JTy 113%r
12434
Metropolitan Gas-Light.. 106%
Mercantile Mut.(Mar.)Ins 36
Harlem Gas-Light
34*4
Louisville New Albany A
Chicago RR
8
280
Metropolitan
Gas-L.,
scrip
93%.
Jersey Land &
Improvement Co.,scrip,for $7
1,000 Metropolitan Gas-L.,
scrip
94
360 Metropolitan
Gas-L., 94
4,240 Commercial Mut. Ins.
Co. scrip of 1876
75%
91 New
10 Park Fire Tns. of N. Y. ..111%
25 Tradesmen’s Nat. Bank.. 105
40 American Exeh. Bank...100*4
140 People’s Bank
Ill
10 Stayvesant Safe Deposit. 82
Railroad and
pref.
stock; and $19 23’scrip
equals $1,719 23
19
F°l t1’100
•
Miscellaneous Stocks.—The
stock market
has been strong, as a rule, on a
ern Union
Telegraph is again
sales to-day touched 99f in the
fair volume of business. West¬
the central feature, and on large
morning and closed at 98f. The
working of this stock up and down, on tlie prospect of the stock
dividend or “ capitalization” of surplus, is hardly satisfactory to
the outside operator in shocks who must necessarily buy or sell
against those who work on a certainty. Aside from the above,
there have been no conspicuous features in stocks this week, hut.
there appears to he a feeling of considerable confidence through¬
out the market.
Closing prices ot leading State and Railroad Bonds for two
past, and the range since Jan. 1, 1878, have been as fol¬
weeks
lows:
Nov.
States.
Nov.
15.
8.
Louisiana consols..
Missouri 6s, ’89 or ’90
North Carolina 6s, old.
Tennessee Os, old
„
Virginia 6s, consol
do
do
2d series..
Dist. of Columbia, 3-65s
Range since Jan. 1, 1878.
■
Highest.
Lowest.
76%
76
69% June 8 85
*105% *105% 102% Aug. 23 108
*15%; '16*8
*30 j *31
15
30
*70
*29
29
j
Mch. 29
Nov.
7
Feb. 11
June22
18
May 25
39% May 14
*71
! *29%
77*4' *77*4
74
July 31
Apr. 12
31
Sept.10
85
June 10
Railroads.
Central of N. J. 1st consol
Central Pacific 1st, 6s, gold..
Chic, Burl. & Q. consols 7s...
Chic. & Northwest. cp.,gold..
Chic. M.& St. P. cons. s. f. 7s..
Chic. R. I. & Pac. 6s, 1917...
Erie 1st, 7s, extended
Lake S. & M. S. 1st cons., cp..
Michigan Central consol. 7s..
Closing prices of securities in London have been as follows:
Oct.
31.
1881
68,
6s,
6s,
68,
68,
68,
6s,
Liabilities.
Capital stock paid in
Surplus fund
Other undivided profits
Rational bank notes outstanding
State hank notes outstanding
:
Dividends unpaid
509
Morris & Essex 1st mort
N, Y. Cent. & Hud. lst,cp....
Ohio & Miss. cons. sink. id..
Pitts. Ft. Wayne & Chic. 1st..
St. Louis & Iron Mt. 1st m
Union Pacific 1st, 6s, gold....
do
sinking fund
*
*84 ! *87% 64*4 Mch. 4 90
July 11
107% I 107% 103% Jan. 15 108% June28
2 114% Nov. 8
Jan.
114% *114*4 109
104*4 105% 91% Jan. 14 105% Nov. 14
99%
99% 91*8 Jan. 5 102% May 25
5 110% June28
110
106
Jan.
110
7 116*4 July 8
Jan.
11334 *114
Jan. 10 114
*113*8 1*113% 109
Sept. 26
Oct. 29
110*4 '*111*8 105*8 Jail. 5 115
Oct.
8
*116
117
115% Jan. 5 121
June 26
11934 1 119% 117% Sept, 10 122
103*8 ,*10334 95% Feb. 20 103% Nov. 9
Oct. 18
8 122
121
Feb.
121% 118
107% *107% 102% Sept. 20 109% May 24
107*2 1 107% 103% Jan. 7 108% June 28
102% 102% 9238 Mch. 6 105*4 July 9
’
This is the price bid; no sale was made at the Board.
The
daily highest and lowest prices have been
as
follows:
510
THE
Monday,
Tuesday, Wedn’sd’y Thursday,]
Noy. 13.
Not. 11.
Central of N.J.
Chic. Burl.& Q.
C. Mil. & St. P.
do
pref.
Chic. & North.
do
pref.
C. R. I. & Pac..
Del.& H. Canal
Del.Lack.* W
29*6 30
*111
os
42
74% 75
do
pref.
Illinois Cent...
Lake Shore
Michigan Cent
Morris & Essex
N.Y.C. &H. h.
Ohio & Miss...
Pacific Mail....
41
41% 40%
*78*6 78% 78%
07% 08% 07%
09
09
08*6
*81
82
81%
110% 111*6 111
7%
...
15*|
15^
122 123
Panama
Wabash
Union Pacific..
.
22*f|
23
08
07%
93%
107
'
108
*107 108
48H 48*6 *48*6
■4J*6 49 *47*6
These
are
9%
34
7*6
15%
15%
125
07
07%
*98
*31
09
83
,
8
15% 15%
,
1*122 125
22% 23%
67% 68 '
97% “
,
1*100 107
48*6 48*6
48
84
112%
8
*47
99
*31
88%
1112
*32*6
**■
Southern Minn...September
Tol. Peoria & War. 1 st wk Nov
..
.
sale was made at the
Board.
Gold and
Nov.
9..
11..
12..
13..
14..
15.-.
ii
a
a
a
Shares.
Central of N. J
Chic. Burl.& Quincy.
Chic. Mil. &St. P..
..
do
do
pref.
Chicago & Northw...
do
do pref.
Chic. RockTsl. & Pac.
Del. & Hudson Canal
Del. Lack. & Western
62,060
Erie
21,865
Hannibal & 8t. Jo.
10,710
do
do pref.
9,000
niinois Central
1,505
Lake Shore
219,260
..
Michigan Central....
Morris & Essex
N.Y. Cent. & Hud. R.
Ohio & Mississippi...
Pacific Mail
Panama
Wabash
Union Pacific
Western Union Tel...
Adams Express
American Express..
United States Exp...
Wells, Fargo & Co...
1,700
4,102
1,311
2,684
3,905
16
18,171
27,050
193,090
Quicksilver
do
pref
Nov.
9
“
11....
“<*
j2
“
IS”::
“
“
14....
15....
Jan.
5 131
Feb. 25
12% June 26 23% Nov. 11
61% July 31 73
Mch. 20
75% Feb. 13 102
Oct. 31
98
Jan.
8 109% Oct. 25
82% Jan. 7
9% Nov. 11
29% Feb. 5
5,900
3,930
5,100
4,000
2,915
6,950
3,350
112
167
400
100
pref.
6,700
5,050
2,500
Low. I High.
13% Jan. 2 45% July 11
99*4 Feb. 28 114% July 15
27% Sept. 2 54% July 8
64
Oct. 14 84% July 9
32% Aug. 10 55% Apr. 17
5934 Feb. 9 79% July 11
983s Jan. 15 119%June 7
43% Oct. 22 59% July 10
463e Mch. 5 61% July 10
7% Jan. 5 20% Nov. 2
10
Feb. 28 1678 Nov. 13
21% Feb. 28 41% Nov. 11
7238 Feb. 14 87 July 11
55% June 29 70% Oct. 29
58% Jan. 3 72% Apr. 18
6738 Feb. 28 89
June 10
103% Feb. 11 115 Sept. 5
6% June 29 11% Apr. 15
14% June 21 23% Jan. 16
46
44
St. Paul
2,600
5,500
Highest.
204
202
110
Total sales of the week in
St.
Paul.
1,1878, to date.
Lowest.
6,582
3,410
25,315
29,180
95,001
82,050
9,785
3,742
Whole year
1877.
Aug.
Aug.
2
7
52%
s4
99%
19%
51
37
leading stocks
North¬ N’rthw.
west.
14,550
18,310
7,950
21,220
22,555
10,016
pref.
May
8
Feb. 25
Nov. 8
Feb 25
June 15
6
94
40 %
15
3734 69%
82% 105%
25% 74%
30% 77
4% 15
7
lZ7o
17
33%
40%
45
35%
51%
85%
2%
12%
80
17,000
11,560
79
733e
74%
92%
109%
113s
26%
130
59%
73
56
84%
91
105
43%
36
81
13
19%
60%
59%
90
24
45
follows:
Del. L.
West,
Lake
Shore.
26,500
28.700
19.700
15.700
50,200
52,290
28,500
45,530
7,050
4,400
9,615
12,205
17,270
11,500
31,100
41,240
20,380
52,510
Total.
25,315 29,180
Whole stock. 154,042 122,794 95,001 82,050 62,040 193,090 219,260
149,888 215,256 524,000 350,685
494,665
..
The total number of shares
of stock
outstanding is given in the
last line for the
purpose of comparison.
The latest railroad
earnings and the totals from Jan. 1 to latest
dates are given below.
The statement includes the
gross earn¬
ings of all railroads from which returns can be
obtained. The
columns under the
heading “Jan. 1 to latest date” furnish the
gross earnings from Jan. 1 to, and
including, the period men¬
tioned in the second column.
,—Latest earnings
reported.—Jan. 1 to latest date.-N
EARNINGS.
Week or Mo.
1878.
1877.
1878.
Atck. Top. & S. F.lst wkNov
1877.
$101,000
$75,660
Atl. &Gt.
West...September 334,882 386,074 $3,270,819 $2,172,909
Atlantic Miss.& O. September
153,8S0 185,208 1,198,143
Bur. C. Rap.
1,258,906
&N.lstwkNov
30,481
34,829 1,303,977 1,016.170
Burl. & Mo.R.in N. August
166,320
123,147
Cairo & St. Louis.October...
981,089
606^22
21,609
24,096
Central Pacific...October
183,382
199,899
...1,831,000 1,806,382 14,771,363
Chicago Alton.. 1st wkNov
13,840,319
96,743
87,692
Chic. Burl. &
Q...Septem.... 1,382,123 1,363,310 4,021,885 3,843,620
Chic. & East. Ill.. 1st
10,378,548 8,994,907
wkNov
20,183
17,623
Chic. Mil. & St. P. 1st wkNov
180,000 241,277
Chic.A North-west.October*
..1,566,858 1,598,776
Chic. R. I. &
Pae.September 858,338 798,277
Clev. Mt. Y. & D..October
38,161
37,506
Dakota Southern.September
17,431
25,559
Denv. & Rio G... 1st
wkNov
28,600
17,184
‘
‘
...
Dubuque & S.City.October...
Erie
Gal. H. & S.
7,106,043
6,794,223
11,601,662 10,191,831
‘
July
91,074
125,770
1,157,690 1,041,205
Ant..September 132,148
99,480
Grand Rap.&
Ind.August
96,681
Grand Trunk.Wk.end. Nov. 2 109,386
191,177 217,354
Gr’t Western.Wk.end. Nov.
8
87,784
315,694
155,519
320,707
944,182
784,859
8,289,355
761,937
861,141
778,222
7,458,695
3,864,939
134,582
637,340
8,051,069
688,284
695,342
7,812,702
93,599
Houst. & Tex. C. .September
3,773,693
237,139
Ill. Cent. (Ill.line).October,.. 332,555
490,130
612,185
do' Iowa lines. October...
4,450,357 4,340', 910
142,106
Indianap. Bl. &W. October... 113,736 204,260 1,225,399 1,233,560
119,064
Int. & Gt. North..October
1,065,664
220,607 181,236 1,169,484 1,035,731
Kansas Pacific.. .1stwkNov
1,178,925
122,512
108,518
3,166,321 2,780.772
Mo. Kans. & Tex .1st wk
Nov
67,916
65,829 2,518,568
Mobile & Ohio
August.... 114,979 125,714 1,147,089 2,709,944
Nashv. Ch.& St.L.September
1,049,495
157,424 1,188,031 1,255,061
Pad. & Elizabetht.3d wk Oct. 123,497
7,774
8,314
Pad. & Memphis..3d wk Oct.
1,599
4,286
144,170
Phila. & Erie
145,823
September
322,896 2,025,890 2,168,652
Phila. & Reading.September 288,084
779,481
1,527,440 8,840,420 10,431.453
Bt.L. A.&T.H. (brs) October
55,750
62,259
402,774
St. L. Iron Mt. & S.lst wk Nov
429,495
149,400 116,786
...
...
3,653,332 3,632,829
522,705
286,371
136,720
493,831
263.936
123,684
349,226
430.316
232,707
266,148
2*66’, 826
in gold
are at a
minimum, and
The carrying rates on
Silver is quoted in London at
nominally at 100£.
The
as
Quotations.
Gold
Open Low. High Clos.
-Clearings.
100%
100%
100%
100%
100%
100%
$11,321,000 $2,155,218 $2,161,854
100%
100%
100%
100%
100%
100%
following
Sovereigns.
Napoleons
100%
100%
100%
100%
100%
100%
are
100%
100%
100%
100%
100%
100%
3 84
4 74
3 90
Span’ll Doubloons.15 75
Mex. Doubloons.. 15 50
Fine silver bars
110
..
Fine gold bars.
Balances.
Gold.
9,242,000
Currency.
841,800
978,200
9,787,000
11,040,000
844,385
980,991
2,128,055
1,297,867
2,123,150
1,270,825
1,070,500
11,3 8,000
7,365,000
1,072,921
60,133,000
$54,197,000 $1,261,930 $1,263,733
quotations in gold for various
$4 84
X X Reichinarks.
X Guilders
On
were
@$4 87
© 3 87
© 4 78
© 4 00
—
©16 15
©15 65
©
coins:
Dimes & % dimes. — 98 %@ —
98%
Silver %s and %s. — 98%2) — 99
Five francs
90 2) — 92
Mexican dollars.. — 85 2) — 87
English silver
4 75 2) 4 80
Prus. silv. thalers.
68 2) — 70
Trade dollars
98%2> — 98%
New silver dollars
99%2> — par.
....
—
110%
par.©%prem.
—
—
Wednesday the Treasury received
bids and purchased about
to its weekly practice since
400,000 ounces of silver, according
October 25, when these
purchases were commenced. The prices
paid have not been made public.
The Tribune
Washington dispatch recently gave extracts from
the forthcoming
report of Dr. Linderman, director of the
Mint,
from which we take the
following :
“
Purchasing silver for the dollar coinage was commenced
in
and continued from time to
time, as advantageous offers of theMarch,
same
were
made, or as the mints required additional bullion
for this current
work.
The total amount purchased for the
dollar coinage up to
ber 30 was 17,925,904'99 fine
Septem¬
ounces, at a cost to the Government of
$21,057,369 15, an average cost of 117‘47 cents
per ounce fine. At the
coining rate for standard silver dollars,
116%j per standard ounce, the
above amount
purchased will produce $23,176,665 19.
“All available means have been
to aseertainas
possible the domestic production employed
accurately as
of gold and
silver, and the following
are the estimates and
actual returns which have been
furnished of the
outturn from the various States
and Territories
during the last fiscal
year (ending June 30), the aggregate of
which, however, appears to bo
somewhat below, in gold at
least, the actual amount deposited at the
mints.
were as
& West. Un. Tel.
17,240
8,900
11,500
15,850
43%
16,493
8,276
3,588
61,720
13,416
42,228
22 899
100%
100%
102% 100%
37%
42%
73%
$78,775 $2,792,255 $2,657,089
10,123
4,216
52,019
28,983
30,418
34,538
This week IOOLj lOOlfl 1001*
Prev. w’k
ioo%'ioo%| 100%
8’ce Jan. 1 102% 100%!
118%
11
-
gold loans were 1(3)2 per cent.
60^d. per oz.
The range of
gold, and clearings and balances,
follows:
a
Jan.
17,995
Jan. 1 to latest date.-s
1878.
1877.
-
1877.
$65,660
Silver.—Operations
the premium remains
Total sales this week and the
range in prices since Jan. 1, 1878,
were as follows:
Sales of
Week.
1878.
123,351
490,875
425,624
28,043 1,088,669
Union Pacific
953.937
October...1,269*879 1,185,405 10,461,631 10,383,174
Wabash
1st wkNov 117,207
95,119
4,328,025
*
3,910,085
October figures inolude
earnings of Proprietary Roads.
48
*98*6 100
*10
11*4
*32%
10% 10%
34
no
79*6
07%
90*6
99
*9*6 11*6
the prices bid ana
asked:
41
100*6 100*6
48% 48%
48*6 49
47
48*8 ♦47
46%
52%
19*6
10%
41%
79%
69%
69%
19%
10%
7*6
16%
95*|
107
82
40%
51%
23% 23%
07% 67%
94*6 95%
-Latest earnings reported.
48% 43%
75% 70%
118*4 118*6
*122 125
22% 23%
10*6
*31
7%
*106
98
32
[Vol. XXV11.
Week or Mo.
St. L. K. C. & No.. 1st wk Nov
8t. L. & S.E.(St.L.)3d wk Oct.
do
(Ken.).3d wk Oct,
do
(Tenn.).3d wk Oct.
St. Paul & S.
City.September
Scioto Valley
October...
Sioux City A St. P.September
32% 3:
1*111 111
41*6 40% 41%
78*6 78% 79
08*4 07% 68*6|
08%
84*6 83*6 84
111*6 111 111% 1
*122
..
98
“J:
.
15*
2>H
00% 07%
93% 34%
Wells, Fartro.. '99*| 100
Quicksilver....
do
pref. 31*6 31*6
*
42"
110% 117
45% 45%
50% 51%
18% 19*6
10% 10
bt. Jo..
West. Un. Tei.
Adams Exp....
American Ex..
United States
112
Frida
Nov
Noy. 14.
29*6 80
30*6 20%
110% 110% 111 111
81% 32% 32
32*
07
01% 07% 68*;
42
42% 42% 43% |
74% 75% 75% 75^i
117
117% 117*6 117^
40*6 47
40*6 46%
50% 52
51*6 52%
19% 19%
19%
10% 10%
10%
31% 32
00% 07%
Erie, |4 paid..
Han.
Noy. 12.
CHRONICLE,
Locality.
Gold.
California
Nevada
Colorado
Montana
Idaho
Utah
Arizona...!
<
New Mexico
Oregon..
Washington
Dakota
Lake Superior
North Carolina
:
$2,373,389
19,546,513
3,366,404
2,260,511
1,150,000
382,000
500,000
175,000
1,000,000
300,000
3,000,000
28,130,350
5,394,940
1,669,635
5,600,000
3,500,000
675,000
500,000
100,000
1,100,000
25,000
none.
'
100,000
none.
100,000
Total
47,676,863
8,761,344
3,930,146
1,350,000
200,000
150,000
sources
Total.
$17,634,008
5,208,000
3,000,000
none.
Georgia
Other
Silver.
$15,260,676
none.
25,000
-25,000
....$47,226,107
$46,726,314
325,000
3,000,000
100,000
150,000
100,000
50,000
$93,952,421
Dr. Linderman estimates the
probable amount of gold consumed in
the arts and manufactures this
year at $2,500,000, and
computes the
stock of gold bullion in the
country at $244,353,390. The amount of
silver coin and bullion exported
the
during
year, above the amount of
importations, he fixes at $8,045,600, and the probable amount
used in
the arts and manufactures at
$3,000,000, He says this will leave a net
balance of $88,090,557 as the stock of
silver coin and
country June 30, 1878, a total of both gold and silver of bullion in the
which is an increase
$332,443,947,
during the year of
He believes that
$26,000,000 was added to that amount up$89,588,089.
October
to
1.”
“
Exchange.—The business in foreign
exchange has been of
One of the
leading drawers advanced rates
to-day to 4’82£ for 60 days’ sterling and 4-87 for
demand, but on
actual transactions
4'81-£ and 4,86(a)4,86£ were about the prices.
In domestic bills the
moderate volume.
following were rates of
York at the undermentioned cities
to-day:
1-16 discount, selling
exchange on New
Savannah, buying
premium ; Charleston easy, £ discount,
£@par; New Orleans, commercial 3-16@£, bank •£; St.
Louis, 50c.
premium; Chicago, 25@50c. premium; and Boston
scarce, 124c.
premium.
Quotations for foreign exchange with most of the
bankers
as follows:
•
NOV. 15.
60
Prime bankers’
sterling bills on London.
Good baukers’ and prime
commercial...
Good commercial
Documentary commercial
Paris
4.81
©4.81%
4.80%©4.81
4.79
©4.80
4.78%©4.79%
5.24%©5.21%
(francs*
Antwerp (francs)
5.25%©5.21%
Swiss (francs)
Amsterdam
days.
5.24%©5.21%
(guilders)
Hamburg (reichinarks)
Frankfort (reickmarks)
Bremen (reichinarks)
Berlin (reichmarcks)
....
-/
39%©
93%©
93 %©
93 %©
93 %©
40
94%
94%
94%
94%
3
are
days.
4.86
©4.86%
4.85%©4.86
4.84
©4.85
4.83%©4.84%
5.21%©5.18%
5.21%©5.18%
5.21%©5.18%
40 ©
94 %@
94%©
94%©
94%©
40%
94%
94%
94%
94%
November 16,
1878.J
New York:
City Banks.—The following statement shows the
condition of the Associated Banks of New York City for the week
ending at the commencement of business
on
Nov. 9, 1878
SECURITIES.
:
-AVERAGE AMOUNT op
Loans and
Banks.
Legal
Specie. Tenders.
Capital. Discounts.
New York..
Manhattan Co....
Merchants’
Mechanics’
Union
America
Phoenix
City
.
$
8,058,800
5,380. 09
6.628,600
6,205,700
3,005,000
7,751.900
2,525,000
6,159,500
2,003,000
2,i 50,000
2,000,000
2,000.000
1,200,000
3,000,000
1,030,000
1,000.000
1,000,000
Tradesmen’s
Fulton
6)0,000
Chemical..
300.000
Merchants’ Exch. 1,000,000
Gallatin National 1,500,000
Butchers’&Drov.
300,000
3,115,000
1.610,200
........
9,719,600
3,149,300
3,632,600
..
Mechanics’&Tr.
1,186,000
1,418,000
967,400
600,000
Greenwich
200,000
Leather Manuf’rs
600,000
Seventh Ward..
300,000
State of N.York.
800,000
American Exch.. 5,000,000
Commerce
5,000,000
..
..
Net
Deposits.
Circula¬
tion.
9,253,000
4,709,100
6.859.300
4.991.600
2.822.300
$
44,000
7,500
84/00
167,890
127/00
$
3,128,600
811,200
604.200 1.443.300
1,157,700 1.885.300
531.300 1,006,800
441,000
331,100
1,761,000 1/32,500
454,000
218,000
2,083, >00 1,715,000
282.700
219.600
154,000
348/00
1,018,800 2,113,600
262,100
401.500
511.200
509.600
v 9,000
120,000
227.000
23,090
2,331,800
817,500
8,400
486.800
325.600
61,800
147.300
19./200
7/60,400
1,100
2,389,000
5.872.600
1/22,300
219/00
m rn
899,000
179,700
I
AKnnm
450/00
402,200
5,400
90,900
767,200
353/0C
1,108,100
536.200
previous week
Loans....
Dec. $4,287,630
Net
Specie
Legal tenders
Inc..
Dec.
Circulation
2,229,100
1/63,693
are as
deposits
Northern Pacific, pref
nkc ;a:.
North Pennsylvania
Pennsylvania...
Philadelphia* Erie
Pniladelphla & Reading
Philadelphia & Trenton
Phtla.Wilmlng. & Baltimore.
Pittsburg Tltusv. & Buff
United N. J. Companies
45/CO
799,500
270,000
224,700
180,000
West Chester consol, pref....
West Jersey
I
■••••■
|
186,700
follows
Specie.
L. Tenders.
234.120.100
236.195.500
22/48,600
22/01/00
19,695,600
239/36,(00
17.990.800
238,096,200
240,220,10C
235.555.400
Aug.’17.
Aug. 24.
20,407/00
19,234,300
236.994.300 18/62,800
239,431,700 17.000,300
Sept. 7. 243.432.900 16.953.100
Sept. 14. 244.215.100 18.554.700
Sept. 21. 245.377.400 18.322.800
Sept. 28. 246.322.500 18, (99,600
Oct. 5. 247.881.900 17.599.700
Oct. 12. 218.634.300 13.991.100
Oct. 19. 246.593.100 15.547.800
Oct. 26. 245,108/00 19,860,500
Aug. 31.
Nov.
Nov.
2.
9.
244,511,800
24.144.100
240.224.200
26,373,200
53.996.300
53/06,300
55.556.300
57,543,900
58,409,600
58.610.100
56,286,500.
55.479.400
55,059,800
53.948.500
50.683.500
48.891.200
48.538.400
45/80,700
43.362.200
42,i'50,800
40.729.100
39.962.500
40,219,000
39.155.400
205.965.600
19,934,200
213.816.700 19,823,900
217.411.500 19,522,100
221,252,100
19,405,100
222.133.700
219.978.500
19/78/00
210,737/00
19/05,400
are
BOSTON.
Hartford & Erie
Maine 6s
New Hampshire 6s
Vermont6s
Massachusetts 5s, gold
Boston 6s, currency
408,903,425
do
iVe%
..
108
7s
Municipal 7s
...
Portland 6s
Atch. & Tcpeka 1st m.7s
.
Boston &
do
6s
Boston & Lowell 7s
Boston * Maine 7s
Boston & Lowell 6s
Boston * Providence 7s
Burl. * Mo., land grant 7s....
do
Neb. 6s
do
Neb. 8s, 1883.....
Conn. & Passumpslc, 7s, 189?.
do
Kan.
113
116
126%
x
100%
5H
5%
29% 129%
20
30
10)4
16%
113
100
70
102
112%
50
4
102%
71%!
72
107% 107%
'
83
127
76
104
113
Burlington Co. 6s,’97.
Catawlssa 1st,7s, conv.,’o2
do
chat, m., 10s, ’88
Connecticut River
Conn. & Passumpslc
Eastern (Mass.)
Eastern (New Hampshire)...
45
13%
do
Nashua & Lowell
New York & New
England...
28%
...
gen. m. 7s, cp., 1903.
gen. m. 7s, reg., 1903
Oil Creek 1st m. 7s, coup.,’81
rlttsb. Tltusv. & B.f 7s, cp.,’96
do
scrip....
Pa.& N.Y.C. & RR. 7s, ’96-1906.
Pennsylv., 1st m., 6s, cp., ’80..
do
gen. m. 68, cp., 1910.
do
gen. m. 6s, rg., 1910.
do
cons. m. 6s, rg., 1905.
110
115
106%
107
106
103
102
W
115%
111
99
do
cons.m. 6s. cp., 1905.
98% 99
do
Navy Yard 68, rg,’81
Perklomen 1st m. 6s, coup.,’97
Phlla. * Erie 1st in.6s, cp.,’8l. 103% 104
do
2d m. 7s, cp.,’88. 103% 104%
Phlla. & Read. 1st m. 6s, ’43-’44.
105%
do
do
M8-.49
do
2d m., 7s, cp.,’93 109
lio
do
deben., cp., ’93*
do
do
cps. off.
do
scrip, 1832.
do
In. m.7s, cp,1896
do cons.m. 7s, cp.,191!..
do cons. m. 7s, rg.,1911..
do con8.m.68,g.i.l911....
do conv. 7s, 1893*
7s, coup, off, ’93
do scrip, 1882
Phlla.* Read. C.& I. deb. 7s,92
*
-
In default of Interest.
25
38
"52
52
ioo% 101
100%
84
130
3
14%
D
20
40
102
105
100
103
106
105
94%
106
95%
107%
101
105
93 H 94%
99% 100
108
110
101
105
108
110
65
70
104
110
108
110
62
83
105
104
105
a*
|
do
7*30s
t
do
South. RR. 7-30s.f
do
do
6s, gold.f
Hamilton Co., O., 6s. long., .t
do
7s, 1 to 5 yrs..+
do
7 & 7'30s, long.t
Ctn.& Cov. Bridge st’k, pref.
Cln. Ham. & D. 1st m. 7s, ’80
do
2dm. 7s,’85..
Cln. Ham. & Ind., 7s, guar....
Cln. & Indiana 1st m. 7s
do
2d m.7s, ’?7...
Colum. & Xenia, 1st m. 7s, ’90
Dayton & Mich. 1st m. 7s, ’81.
do
2dm. 7s,’87.
do
3d m. 7s, ’88.
Dayton & West. 1st in., ’81 t
do
1st m.f 1905..
do
1st m. 68,1905
Ind. Cln. & Laf. 1st m. 7s
do
(I.&C.) 1st m. 7s,’88
Little Miami 6s, ’83
Cln. Ham. & Dayton stock..
Columbus & Xenia stock....
97
105
106
104%
91
95
100
104
98
107
108
105
92
ib*2*
108
75
101
97
35
i?l%
98
40
93
72
104
101
97
90
100
67
x75
106
95
98
97
100
20
15
100
20
Dayton & Michigan stock...
do
8. p.c. st’k, guar 96
Little Miami stock
95
101%
98
92
90
fcO
•
•••
22
07
97
LOUISVILLE.
107
105
110
109
97
:i2%
ICO
12
f
Louisville 7s
107
74%
112
112
115
112
CINCINNATI.
105
108
114
100
34
110%
MISCELLANEOUS.
Cincinnati 68
do
7s
North. Penn. lBt m. 6s, cp., 85. 108
do
2d m. 7s, cp., ’96. 113
do
do
108%
113
109
100
110
110
BONDS.
& Ohio 6s, 1880, J.&J....
do
6s, 1885, A.&O.
N. W. Va. 3d m..guar.,’85,J& J
Plttsb.* Connellsv.7s,’98,J&J
Northern Central Os. ’85, J&J
do
6s,1900. A.*0.
do 68, gld, 1900, J.&J.
Cen. Ohio 6s, 1st m.,’90,M.& S.
W. Md. 6s, 1st m., gr ’90,J.&J.
do
1st m., 1890, J. & J...,
do
2d m.,guar., J.& J
do
2d m., pref
do 2d m.,gr. by W.Co.J&J
do 6s, 3d m.. guar., J.& J.
Mar. & Cln. 7s, ’92, F. & A...
do
2d, M. & N
do
8s, 3d, J. & J
Union RR. 1st, guar., J. & J.
do >
Canton endorsed
102
do 24 m.,7s, reg., 1910.. 118
do
con. m., 6s, rg., 1923 102
do
do
6s,cp.,19^8 101
Little Schuylkill, 1st m. 7s’82
do
108
111
106
99
108
1<8
110
109
109
112
111
112
Baltimore Gas certificates..
.
13%
61
60
22% People’s Gas
104
Harrisburg 1st mort. 6s, ’83..
H. & B. T. 1st m. 7s, gold, ’90.
do
2d m. 7e, gold, ’95
do
3d m. cons. 7s, ’95#.
Ithaca* Athens 1st g d, 7s.,’90
Junction 1st mort. 6s, ’82.
do
* 2d mort. 6s, 1990
L. Sup. & Miss., 1st m., 7s,
Lehigh Valley, lst,6s,cp., 189S 112
do
do reg., 1893...
4%
2PH
•<2%
Delaware mort., 6s, various.. 106 1108%
Del. & Bound Br., 1st, 7s, 1905 99% 10J
East Penn. 1st mort. 7s, ’88 .
107
E1.& W’msport, 1st m.t 7s, ’80 106
do
5s,perp
139
48
123
Fitchburg
new7s 1909.
RAILROAD
108
Connecting 6s, 1900-1904...
54
Kan. City Top. & Western...
87%
Manchester * Lawrence
xlSO
105
87
Cam. &
.......
116% Chic. Clinton Dub. & Min..
110
...
78. Inc
82
x
Burlington & Mo. In Neb..,
Cheshire preferred.
7s
do
..
Boston & Maine
Boston & Providence
107
City Top.* W., 7s, 1st
do
6s
Western, 8s
Pueblo & Ark. Valley, 7s..
100
Rutland 8s,1st mort
65
Vermont
Canada, new 8s..
Vermont & Mass. RB.,6s
Atchifon & Topeka
106% 106% Boston & Albany
102% 102% Boston & Lowel.1
ii'8%
Albany 7s
new.
28%
new..
stocks.
land grant 7s
2d 7s
land inc. 8s..
Eastern, Mass., 8xs,
Fitchburg RR., 6s
7^,
.
Omaha & S.
••••
sewerage
do
do
Bid. Ask.
Ogdensburg & Lake Ch.Ss... 100
115
Colony, 7s
Old
..
7s, E. ext.,19K
Inc. 7s, end.. ’94
Belvidere Dela. 1st m. ,6s, 1902
do
2d m. 6s.’S.)..
do
Sim. 6s,’37..
Camden &Amboy 6s,coup,’83
do
6s, coup., ’89
do
mort. 68, ’89.
352.707,254
Cam. & Atl. 1st in. 7s, g., 1903
353,322,472
A’A'un'niK I
'
2d m.,7s, cur., ’80
d0
414,140/15
not included in the
SECURITIES.
.
do
do
70
90
RAILROAD STOCKS.
Par.
Balt.* Ohio
....100 83
do
Wash. Branch.100 125
do
J
Parkersb’g Br. .50
Northern Central..
50 13
Western Maryland
1
50
Central Ohio,...
50 24
Pittsburg & Connellsvllle..50 36
.
Susquehanna
I
'e*4
110
13*9£ Balt.
13/4
6%
349,403,759
353,550,231
376,809,115
19,273/00
223.432.700 19,189.800 33j.692.nni
355/92,070
217.884.700 19,325,600 342,277,469
216,088,500 19,305,600 330,517,433
216,164/00 19,438,700 285,766,611
216.711,200 19/02,300 348/22,456
218,269,000 19,478,300 330,877,791
217,304,000 19/16,300 333,606,566
216,332,000 19,617,800 370,111,767
214,103,400 19,577,500 453/71,364
210,011.200 19,593,100 424/49.900
208.144.600 19,601,200 482,291,920
211,096,700 19,889,700 392,878,293
215,443/00 19,904,300 488,571,553
Bid. Ask.
SEOUBITIEB.
do
ii*
42
48
49
41
46%
ioi % 102
20
18
35
38
32n 33
8
6%
pref..
Allegheny Vai.,7 3-10s, 1896
QUOTATIONS IN BOSTON, PHILADELPHIA AND OTHER CITIES.
do
434
37%
Chesapeake* Delaware
Delaware Division
Lehigh Navigation
do
Deposits. Circulation. Agg. Clear,
Note.—The figures of the Chase National Bank
above totals prior to October 26.
Chicago
2
Pennsylvania
Schuylkill Navigation
Dec. $4,705,800
Inc.
1,100
*
$•
232.720.200 16,311,900
236.516,000 20,420,000
July 6.
July 13.
July 20.
July 27.
Aug. 3.
Aug. 10.
1
2
Morns
do
pref
:
94% 95
6s,exempt,’9S.M.&S
do
1900, J. & J
do
1902, J.&J
Norfolk water, 8s
CANAL STOCKS.
•
95%
...
do
RAILROAD BONDS.
Loans.
f
1878.
Nesquehoulng Valley.
Norristown
i40>4UU
The following are the totals for a series of weeks pa.t:
Jun. 29.
32
30
pref
Minehlll
63,711,5)0 249,224,203 23/73,200 39,155,400 210,737,600 19,905,400
returns of
pref
Huntingdon* Broad Top...
do
do pref.
Lehigh Valley...
Little Schuylkill
295,500
106 *
75
6s, defense, J.& J..
6s, exempt, 1587
6s, 1890, quarterly..
do
5s, quarterly
Baltimore 6s, tS91, quarterly.
do
6s, 1886, J.&J
do
6s, 1890, quarterly...
do
6s, park, 1890, Q.—M.
do
6s, 1893, M.&S
East Pennsylvania
Elmira * Williamsport
do
do
pref.
Har. P. Mt. Joy & Lancaster
4,700
904%
104%
;9.8 .*
>
Delaware & Bound Brook....
new
107
do
681,000
do
do
coup.,
7o
Catawlssa
596/00
77
114
BALTIMORE.
Camden & Atlantic
do
do
pref
269,000
10a
106%
Mar land
246,909
3,900
262,300
500,000
’
The deviations from
Susquehanna 6s,
RAILROAD STOCKS.
2/33,000
1/56,20.1
1,439,000
'38
Union* Tltusv. 1st m. 7s, ’90.
United N. J. cons. m. 6s, ’94..
Warren & F. 1st m.7s, ’98
West Chester cons. 7s, ’91
West Jersey 6s, deb., coup.,’83
Camden City 6s, coupon
do
7s, reg. & coup
Delaware 6s. coupon..
Harrisburg City 6s, coupon.
446,400
1
Snnbury & Erie 1st m. 7s, ’97..
STATE AND CITY BONDS.
125 dnn I
98
to
Penna. 5s, g’d, lnt.,reg. or cp
do
5s, cur., reg
do
1st m. 6s, cp.,’96.
do
5s, new, reg., 1892-1902 111%
do
1st m. 7s.’99......
do
6s,10-15, reg., li77-’8‘2 104%
Western Penn. RR. 6s,cp.!899
do
6s, 15-25, reg., 1882-’92 ioy%'iio%
do
6s P. B.,’96.
do
6s. In. Plane, reg.,1379
CANAL BONDS.
Philadelphia, 5s reg
do
Chesap. & Dela. 1st 6s, rg.,’86
6s, old, reg
do 6s, n., rg., prior to’95 115
Delaware Division 6s, cp.,’78.
116
do 6s, n.,rg.,1895* over 116
116% Lehigh Navlga. m.J5a, reg.,’84
do
mort. RR., rg.,’97
Allegheny County 5s, coup..
do m. conv. g., reg.,’94
Allegheny City 7s, reg
do
mort.
60
gold, ’97
Pittsburg 4s, coup., 1913
do cons. m.7s, rg.,1911
do
5s, reg. & cp., 1913 8U
do
Morris, boat loan, reg., 1885..
6s, gold, reg
do
7s, w’t’rln.rg. &cr> 103
103% Pennsylvania 6s, coup., 1910..
no 7s, sir.impti
70
Schuylk. Nav.lst m.6s,rg.,’97.
str. Imp., areg.,’33-36*
00*00
do
2d m. 68, reg., 1907
N* Jersey 6s, reg. and coup...
do 6s, boat*car,rg.,13l3
do
exempt, rg. & coup.
do 7s, boat*car.rg.,19;5
Camden County 6s, coup....
1,752,900
.
]
PHILADELPHIA.
45,000
187.(900
o~=
Total
Vermont & Massachusetts..
Worcester* Nashua
198/00
2,700
306,200
29,200
895,404
2,081,200
769,100
295.200
1.562.600
945,000 8,787/ 00
11,748,000 1,704,000
16,532,100 1,409/00 1,344,200 9/12/00
940.409
86.300
Broadway
3,482,209
1,000,000
4,8?8,800
Mercantile
274,000
555,9u0 2,790/00
1,000,000
3,045,000
q 002 200
Pacific
26.700
496,400
2,066,500
422,700
i ufiu
186,1 00
436.200
Republic
1.500,000
3,240,400
1/69,800
Chatham
95,090
458,000 2.478.900
'450,000 2,797,200
15.700
226,309 1,233,200
People’s
412,500
1,348.300
North America..
168,000
330,003
700,000
1,645,800
1,755.800
Hanover
298,000
742.300 4,203,6C0
1/00,000
4,757,700
38,900
450.700 1,768,700
Irving....
500,000
1,793,500
711,000 1,834,000
Metropolitan.
9,492/00
3,000,000 13,308,000
Citizens’
77.400
493,700' 1,617.400
600,000
1,373,100
Nassau
26,600
225,000
1,742,100
1,924,100
1,000,000
Market
81,100
1,000,000
2,3S5,900
397.600 1,583,000
St. Nicholas
32.800
ir»6,400
689,400
1,000,000
1,825,700
Shoe and ueather 1,000,109
254.000
432,000 2,696/00
3,629,100
Corn Exchange.. 1,000,000
109.900
362,000
3,311,000
1.962.900
67,000
Continental..:... 1,250/00
651.700
3.656.500
2.733.300
Oriental
17.700
300,000
1,333,000
160,009
1.145.300
Marine.
409.000
130/00
2,326,000
407,00)
2.152,000
Importers’&Trad 1,500,000 15,391.000 1,518,900 2/36,900 16,708,400
Park
798,800 2,7U6,200 12,670,990
2,000,000 10,727,400
Mech. Bkg. Ass’n
78.700
38.700
500,000
63?,300
481,109
Grocers’
101.90(9
1,500
300,000
518,600
412,800
North River
35.400
240,000
734,900
106,100
682,600
East River
76,2(0
89.500
250,000
705,700
549,500
Manuf’rs’ & Mer.
100,000
319,300
1,100
93,000
11
Fourth National. 3,5(0,000 13,318,500
700,100 2,163,900 11,116,300
Central National. 2,000,OGO
303,000 1,393,000 6,819,000
7,326,000
Second National.
578,000
300/00
1,812,000
1,974,000
Ninth National..
750,000
3.416,200
263,400
613.300
3,125,400
First National...
500,000
7,712,009 1,672,300 1,317,500 9,471/00
Third National..
986,300
5,460/00 1,274,900
499.900 5,620/00
N. Y. Nat. Exch.
139,800
300,000
1,156.500
51,000
763.200
Bowery National.
225,000
250,000
1,107,300
6,500
805.200
New York County
309.900
2l;0,000
1,089,300
1,174,800
German A meric’n
750,000
2,059.800
213,809
216.700
i
Chase National..
300,000
1,466,600
184,600
215.600
1,390,500
..
Portland Saco & Portsmouth
Pueolo & Arkansas
564,409
141,800
267,000
858/00
...
Rutland, preferred
9,566,400
9.0,000
do scrip, 1882
do mort., 7s, 1892-3
Phlla. Wllm. * Balt. 6s, ’84
Pltts.Cln.&St. L. 7s, cou.,1900
Shamokin V.& Pottsv. 7s, 1901
Steubenv. & Ind. 1st, 6s, 1884.
Stony Creek 1st m. 7s 1907....
Sunb. Haz. & W.,lst m.,5s,’2L
...
749*666
2,419,3i0
2,212,500
Phll.&R.C.&I deb. 7s. cps.off
OgdensD. & L. Champlain
do
pref..
Old Colony..
1,212,200
294,000
1,731,200
Northern of New Hampshire
Norwich & Worcester
102
do
do
do
do
do
do
6s,’82 to’87
6s,’97 to’98
t 100% 104
99
+ 97
96%
90%
96%
98%
spec’l tax 68 of ’89.+ 96%
Louisville Water 6a, Co. 19071 101%
Jeff. M.&l.lstm. (I*M) 7b,’8lt
f
water 6s,’87 to ’89 t
water stock 6s,’97.t
wharf 6s
..+
......
do
do
SO
101^
2dm., 7s
1st in.,7s, 1906....t 106%
Louisv. C.& Lex. 1st m.7s,’97t 104% 105
Louis.* Fr’k.,Loui8V.ln,68,’8!
100
iff*
Louisv. & Nashville—
Leb. Br. 6s, ’86
f 98
99%
1st m. Leb. Br. Ex.,7sp’80-85.t 98
99%
Lou.In.
do
98
6s, ’93...f
99%
Consol. 1st m. 7s, ’98
105% 105%
Jefferson Mad. * Ind stock. 103% 104
Louisville* Nashville stock., 88% 38%
ST. LOUIS.
j
6s, long
tfl02% 104
water 6s, gold
fi 103% 104%
do
do
new.f 104 1C 5
appr.,
bridge
g. 6s f
,04%
St. Louis
do
do
do
do
ao
St. Louis
do
renewal, gold, 6s.t
sewer, g. 6s, ’9i-2-3.f
Co. new park,g.6s.f
cur.
+ And inter*1**’.
7s.
f
x04%
10:
104
104%
104%
105%
512
THE CHRONICLE.
fVoL. XXVII.
QUOTATIONS OF STOCKS AND BONDS IN NEW YORK.
JJ. S. Bonds and active Railroad Stocks
are
quoted
previous page.
on a
STATE
8XCUKITTBS.
Bid.
Alabama 5s, 1833.
do
58,1886.
do
88, 1886
do
88, 1888
do
8b, M.& E.RR..
do
8s, Ala. & Ch.K.
88 Of 1892
do
“ii
8s of 1893
Arkansas 6b. funded
do
7s, L. R. & Ft. S. 186
7a Memphis & L.R.
78, L. K.P. B. &N.O
do
7s, Miss. O. & R. R
new
7s, endorsed.
do
7s, gold bonds...
war
• •
• •
do
42%
do
....
-
,
-
-
^
.
•
-
+
*
.'.tt
Ill
107%
loan
Kentucky 6s
j
....
do
do
RAILROAD
ttaliroad Stocks.
81
21
22%
32%
82%
5%
....
4%
Dubuque & Sioux City.
Erie pref., $2 assess, paid.
Harlem
Joliet* Chicago
Kansas Pacific
56
....
*1*4*0*
i43
|
Cleve. Col. Cln. & I
Cleve. & Pittsburg, guar..
Col. Cblc. * I. Cent
'
11
12
Long Island
Missouri Kansas & Texas.
Nashv. Chat. & St. Louis
....
.
...
....
New YorkElevatea RR..
N. Y. New Haven & Hart.
Ohio* Mississippi,pref
Pitts. Ft. W. & Ch., guar..
do
do
special.
Rentselaer & Saratoga
Rome Watertown & Og.
St. Louis Alton & T; H....
101
100
103
.
.
3%
do
*i'5
*15%
i27
...
Atlantic & Pac. Tel
Am. District Telegraph...
20
29%
21% *25
Canton Co., Baltimore....
American Coal
©onsolldat’n Coal of Md..
Cumberland Coal * Iron.
•
•
I
;;
25
•
!
....
Mariposa L. & M. Co
do
do
pref.
OntarP Sliver Mining....!
guar.
..
•
North., l6t 59.
Minn.* St.L.,1st 7s gua
Chest!. * Ohio ss, 1st in.
d<>
28%
29%
29%
72%
•
72%
J90
ex com 1
Chicago * Alton 1st mort.j
do
income.)
d>
sink’g fundi
Joliet & Chicago,ist m.
La. &Mo., 1st in., guar..i
.
27
25
1:4
:
29
....
101
108
....
798
....
....
68,4917, coupon
i 109
1*10
6s, 1917, reglst’d
109
Central of N. J., 1st m., ’90
113%
113%
do
do
do
do
Lehigh & W. B. con.guai
do
do
Am. Dock &
do
do
Ch.Mll.*
assei.tcd.
Imp. bonds
»ssented.
St.P.lstm.8s,P.D
do
2dm. 7 8-10, do
do
1st 7s, $g.,W.D
do
1st hi., LaC.D.
do
lstm.,I.*M...
do
lBt m., I. & D.
do
lstm.,H. & D.
do
lstm., C. &M.
do
consoi.slnk.fd
do
2d m
do 1st m.,7s, I.&D.Ei
Chic. & N. West. sink, fd
do
lnt. bonds,
do
consol, bds
io
ext’n bds..
88
8'l*
73%
86
72%
72%
-
t
r
t
4:%
I
55
51
121
106
58%!
59
1059;
109
105%
inn
j
73%
86
(30
Spring, dlv..
Central Pacific gold bonds..
do San Joaquin branch
do Cal. & Oregon 1st
do State Aid bonds
do Land Grant bonds..
Western Pacific bonds
Southern Pac. of Cal., 1st m.
Union Pacific, 1st mort. b’dt
do
Land grants, 7s.
do
Sinking fund...
Pacific R. of Mo., 1st mort...
do
2d mort
do
income, 7s.
do
IstCaron’tB
South Pac. of Mo., 1st m
Kansas Pac., 1st m.. 6s, 1895.,
do
with coup. cifs.
do 1st m., 6s, 1S96
do
with coup. ctfs.....
.
St.L.Jack.* Clilc.,1st m.| )04% 105
Chic. Bur.* Q. 8 p.c.,lstm) 112
do
consol. m.7s| 114%
do
58 sink, fundi
Ch.Rk.I.&P. .s.f .lne.6s,’K5. j
do 1st consol.,
do
isseated.
do conv
do
aasemed.
1st
....
104%
100%
r
10*6%
12
*
85%: 85%
114
I0i%:i04%
114
110
103
U9%
102%
do
do
do
do
do
do
1st, 78, Leaven, br.,’96
with coup, ctfs
1st, 7e,R.*L.G.D’d.’99
with coup. ctfs...
1st ra., 7s, I’d grM ’80/
with coup, ctfs
j
2d mort.,7s. 1886.
j
with coupon ctf-! ..i
Inc. cp.No. lion 1916;
Inc. cp. No. 16on 1916
do
25
108%
110
110
1U4%
112
I....
....
109%;....
C
•
Detroit Water Works 7s
Elizabeth City, 1880-1905
do
1885-93
Hartford 6s, various
.
tioo
tl05
t!08
7106
7108
103% 104
tl08
1112
Ill
115
tioi
102%
111%
Water, due 1903
105
+97
113
109
100
108
....
42%
7i%
71%
82
18
18
Montgomery,
New 3s
new 5s
116w
New Orb ana prem.
ConsollaatedCs...
5g.\.
Flint & Pere M. 8s,Land
grant.
Fort W., Jackson & Sag. 8s, 89
Grand R.& Ind. 1st 7s, f.g., gu.
do
ist7s, 1. g., notgu.
do
1st ex 1. g.<s.
Grand River Valley 8b, 1st in..
Houe. & Gt. N. 1st <s, g., certs.
Hous. & Texas C. 1st 7s, gold..
do
West, dlv
do
Waco
do
consol, bds..
Ind. Bloom. & West., 1st
[Indianapolis* St.Louis 1st 7s
1 Indlanap. & Vlnccn. 1st7s,
gr..
.
Wharf improvem’ts, 7-3C
Norfolk 6s
8a
Richmond 6s
Savannah 7s,
78 new
-
-
-
) on.
RAILROADS.
Ala.*Chat.,Rec’s c. (vcr.)
Atlantic & Gulf, consol..
Consol., end.by Savan’h
6s,g.
*
Carolina Cent. 1st m.
Cent. Georgia consol.m. is
Stock
Chari’te
....
44
87
78
105
Stock
Greenville * Col. 7s, 1st m.
7s. guar
Macon & Augusta bonds..
2d endorsed
Memphis * Cha’ston 1st 7*
2d is
btock
....
too
+99
61
64%
63%
02%
86
,
,
Memph. & Little Rock 1st
Mississippi Cent. 1st m. 7s
•
87
71
73
25%
27
64
90
te
20
58
84
63
20
2d mort. 8s
4(>
20
106%
68
85
£3
102
90
90
96
75
*35
108
99% 100
100
..
...
58
95
102
45
107
100
80
90
37
*96*
ioo*
;97
100
80
85
7
35
40
102
98
102
2d mort., ex coupons—
Miss. & Tenn. 1st in. 8s, A.
1st mort., 8s, B...<
Mobile & Ohio sterling 8s
Sterling ex cert. 6s . *...
jl21%
....
35
1C8
72
90
100%
86
108
82%
I International (.Texas) Istg...
64
Int. H. & G. N. conv. 8s
64
do
|
iJack. L.&S. Ss.lstai..“white” tl01% 102
8s,Interest
45
do
14
: Kal.
mort.
2d
8s
Allegan. & G. R. 8s, gr...
101
99
15
Pennsylvania RR—
Kalamazoo & South H. 8s, gr..
N. O. * Jacks. 1st m. 8s..
80
108
97% 97%;
Pitts. Ft. W. & Chic., Ist m..
121
1
Kansas City & Cameron ids... +104
107
2d
8s.
Certificate,
mort.
108%
do
do
117
jj
2dm..
Keokuk & Des Moines Ist 7s...
ashvllle Chat. & St. L. 7fc
73
76
ion*
105
do
do
j ... |j
3d in.
107% 109
do
funded lnt. 8e
80
1st,6s, Tenn.* Pac. Hr
90%
Cleve. & Pitts., consol., s.f.
110
j 112
101
103
lst,6s,McM.M.W.*Al.Br
Long Island RR., let mort
86
do
4th mort....
&
,108
Louisv.
Nashv.
1st
cons.
m.
ashvllle
&
Decatur
7s
do
7s.
1st inort..
103% 194%
99%
Col. Chic. & Ind. C., 1st mort
107%!....
do
54%j
55
Norfolk
&
2(tm.,
Petersb.lst
m
Jitdo
87
88
7s,g..
cp.gld.bds.
104%
do
do
;ic5%
2d mort
16%, 16%j Michigan Air Line 8s, 1890
1st mort. 7a
do
105
100
1 io5 )
reg. do
j. Rome Watert’n & Og..con. 1st 30
! 31% Montclair & G. L.lst 7e, (new). + 104%
2d mort. 8s
Iowa Midland, 1st m. 8s. t 102
32
95
j
102%
:St.
L.
&
Iron
Mountain,
1st
m.
107%.
109
Mo.
K.&
Tex.
1st 78, g., 1904-’06
1
Galena & Chicago Ext
46
Northeast., S.C., 1st m. 8e. K2
47
1*105
do
do
2d m..
270
do
2d
m.
2d
mort.8s
Peninsula. 1st m.,conv
13
14
Income...
88
1115
St. L. Alton & T. H.,lst mort.
107
N.J.Midland 1st 7s,gold......
Chic. & Milw., 1st mort. 109 i 113
24
28
90
do
2d mort.,pref..1
! N. Y. Elevated RR.,
70
Winona & St. P., 1st m.
1st
m
91
;.«i8,6s
76
90%
103%
do
2d mort. lnc’mel
37% N. Y. & Osw. Mid. 1st
do
6
2d mort.
3ds,8s....;
35
88
6%
8S%
Belleville
& S. lll.R. 1st in. 8s
91
do recelv’e ctfs.(labor)
30
C.C.C.&lnd’s 1st m.7s,SF. 108
4th8,8s
12
l'J9
Tol. Peoria * Warsaw, 1st E.D!
do
do
Rlchm’d * Petersb.lst 7s..
do
20
25
consol, m.bdt
(other)
91
do
1st W. D
Omaha
&
Southwestern
Rich.
Fred.
&
j
RR.
6b
113
Del. Lack. & West., 2d m. 104
114
Potomac 6h.
85
do
jouilingt’n Dlv
Oswego & Rortte 7s, guar
86
mort. 7e
do
93
7s. conv.
95
104
do
2d mort
20
i
30
Peoria Pekin & J. 1st mort
Rich.* Danv. lstconsol.6^
do
*20
mort.. 7s, 1907
40
78
do
101%
consol.7o
20
30
Pullman Palace Car Co. stock.
|
72
Sit. Bingh. & N.Y. ist.Js 101
73
hwest.,G&..conv.7s,>6 102
do P.Com. t
95
do
cpts,lst,E.l>;
hwestern. Ga., stock.
Morris * Essex, ist. in..
02
bds., 8s, 4th series
80
116
do
1117% j
do
94
St. L. & I. Mt. (Ark. Br.) 7s,
1st, W .D
do
74
2d mort.
76
f-6
g.
107
'10H |
do
qo
Bur. D;
St. L. & San F.t 2d m., class A.
do
49
78,1902, low Nos
30
bonds, 1904.
83 1*80%'
46%
do 1st pref. lne for 24 M:
20
30
do
do
class
do
B.
29
31
non
mort...
7s,
constructs
H>
85
do
do
for cons’d1
20
30
«•
do
do
class C.
do
24
*5
7s, of 187j
Tol. * Wabash. 1st n,. exteuo, ;+130
99%
St.L.*So’east. cons.7s,gold,’94
30
Cha’ston * Sav. 6s, end.
do
1st con. guar.
SO
92% i 94
do
ex coupon
St. Louis Vandalla * T. H. 1st. *99
j
105
West
i04
Ala., 1st mort. 8s...
3C5
Del.AHud.Canai, 1st m..’&
do
97% TOO
lstm.St.L. dlv
T102
do
2d
do
66
2d, guar
do 1891
70
m.8s, guar
104
98 j 99
do
ex-matured coup....
86
87
do
Sandusky Mans. & Newark 7s.
89
1st extended,
91
97
100
do
2d more
96
100
South Side, L. I., let m. bonds.
do
85
92
coup. 78. 1894
15
do
95%! 96
Extended, ex coup.,
do
75% 78
sink. fund...
20
do
30
40
reg. 7s, 1894
do
| 96%
equlp’t bonds...I...
5
10
South. Minn. 1st mort. 7s, ’88..
08
Albany & Susq. ist bds.
20
do
con. convert
in%:112%
70%
Southern Minn., 7s, 1st
85
do
90
2d do
Consol, coup..
80
99%T00
do Ex. Aue..*78.& nrev’e
60
62
Tol. Can. 8. *Det. 1st 7s, g
46
30
price nominal.
t And accrued interest.
£No price to-day; those aie latest quotations made this week.
100
107
6C
100
’
K4
6s
5-tock
97
88
86
50
70
65
95
3o
Georgia RR. 7s
.
53
90
*96*
Col.&A., cons. 7s.
do
do
2d 7s.
Cheraw & Darlington 6s..
East Tenn. A Georgia 6s..
E. Tenn.&Va. 6s.end.TenD
E. Tenn. Va. & Ga. 1st. 7s.
40
*85
102%
64
62
.••••••
8s, gold.
£03
1
95
IOC.
ioi
WUm’ton*,N.c!,6s,g. j coup
78%
.
93
old
•••••«
(9
22
100
81
40
35
■‘94
Petersburg 6s
40
32
29
Nashville 6s, old
103%
80
80
29
34
20
20
30
48
35
90
90
32
37
(coupons on)
6a, funded
81
100
#
..
Mobile 5s (coups, on)
Railroad, 6s
...
j
Bonds A and B
6fi
101
100
52
72
67
97
60
35
35
60
95
50
20
20
25
Endorsed, M. & C. RR.
8s
08
1(6
97
46
bonds, 7s
Memphis bond* C
48
iu7%1107% !
do
7s, equip...
105% 105%'1 Evansville & Crawfordsv., 7s.. tioi
102%! 10<;%; Evansville Hen. * Nashv. 7s...
40
10i% 104% Evansville, T. H. * Chic. 7s. g.
48
"J*
80
Augusta, Ga., 7s, bonds..
107
102
96
Charleston stock 6s
Charleston. S. C., 7s, F. L.
Columbus, Ga., 7s, bonds.
U05
196% 100
82
72
104
l'S
115
103
..
Macon
....
100% 102
8s
Lynchburg 6s
104
101%
7s, gold. 1904
J.*J. tl 13
10s, pension, 1894.. J.&J. tlOl
CITIES.
Atlanta, Ga., 7s
95
Waterworks
109
..
no
.
106%
....
104%
.
101%
Atchison & P. Peak, 6e, gold..
44
Boston & N. Y. Air Line, 1st m 102
!....
Cairo* Fulton, 1st 7s,gold...
119%
77%
California Pac. RR., 7s, gold
119%:....
97
i
do
11:% 112
84
68,2d in. g.
75% j 75% iCentral of Iowa lstm. 7s,gold,
118 L... j Chic. & Can. South lstm.
21
g. 7s.
118
!.... [ Chic. & East. Ill. 1st mort., Cs. 67
do
U'5% 1106
.2d m. Inc. 7s.
IS
103% 104%;! Chic & Mien. L. Sh. 1st bs. ’89. r....
103%S.~ i Oh.St.P. & to Inneap., 6s,g.,new X78
71%
do
;
do
1. gr., 6s, g.....
35
iChlc. & S’thwestern 7s, guar.,
91
j Cln. Lafayette & Chic., let m..
70
107%' 107% Col. & Hock V. 1st 7s, 30 years, *104
do
1st 78,10 years, tioo
92%
92>4|
93
!
' 2d
do
7b, 20 years.. +90
107
i
Dan. Urb. Bl. & P. 1st m.
7s, g.
35
92%; 93% Denver Pac., 1st m.7s, ld.gr.,g.
38
103
,104%''Erie & Pittsburgh let 7s
99
94%
ii
do
con.m.,7s..
84
86%
r
106
109
....
85%
46
100
79
S. Carolina con. 6s (good).
58
Rejected (best sort)...
Texas 6s, 1892.......M.& S tl02
7s, gold, 1892-1910..J.&J m2
•
RAILROADS.
106^j.
no
•
tll0% 112
Toledo 7*308
Y onkers
101% 101%
•
106
.
103
103
44
74
48
O
Georgia 6s, 1879-’89.
..
...
42
71
v
....
110%
....
|
74% Soutli’n
Securities.
(Brokers' Quotations.)
STATES.
Alabama new console, A..
S3
B, 5s
m
.
103
!....
10i»
70
63
81
10754
.
77%
77
70
lOR
Indianapolis 7-30s
Long Island City
113%
Newark City 7s long.
114
1115
do
Water is,long....
105* >105% Oswego 7s
105%; 105^ Poughkeepsie Water
781 j
Rochester C. Water bds.. 1903.
iii%; 112
Toledo 8s. water, 1894-’94
110
74%
"79
87%
CITIES.
Albany, N. Y., 6s, long
Buffalo Water, long...,
Chicago 6s. long dates
do
78, sewerage
do
7s, water
do
7s, river lmprovem’t
Cleveland 7s, long
77 H
19
96
coupon.
53%
29%
7%
Union & Logansport >s...
Un. Pacific, So. Br., 6s. g..
104% ioo*
Miscellaneous List.
(Brokers' Quotations.)
788
110%
ex
23
71
ex matured coup
BONES.
130
90%
102
107
103
111
ANE
:si m., 1886..
ex coupon
2d mort., ’93
28
23
23
6s, consol., 2d series
110
2%
35
31
31
31
28
6s, deferred bonds
D. of Columbia 3'65s, 1924.
do
small
do
registered
104
Weaieru,
m
...
6s,
f*
Class 2...:.
Class 3
STOCKS
Non-fundable bonds
Tennessee 6s,old....
do
6s, new
do
6s, new series.
Virginia 6s, old
68, new bonds, 1S66
do
68,
1867
6s, consol, bonds
9
Western Union Tel., 1900,cp,.
do
do
reg....
...
112
9*
105
10(%!107
103%; 109%
109% 110
103
100
80
yulney * Toledo, 1st m.,’90.
do ex mat. & Nov..’77,cou
1115
.
do
do
tat
16%
GJ
00
9
1886
do
do
equipment bonds.
Central 6s, 18S3
do
6s, 1887
do
6s, real estate.,
do
6s, subscription,
do & Hudson, 1st m., coup
do
do
lstm., reg.
Hudson R. 7s, 2d m., s.f., 1885
Canada South., 1st guar
Harlem, 1st mort. 7s,coup...
do
do
7s. reg...
North Missouri, 1st mort
Ohio* Miss., consol, slnk.fd.
do
consolidated
do
2d do
do
.
|
do
Bur.C. R &
;
*39
Railroad Bonds. ;
(Sioct- Exchange Prices.) \
Bost-n H. & Erie, 1st
m..|
do
i N.Y.
i'o
Spring Mountain Coal....
Mich. Cent., consol. 7s, 1902...
do
1st m. 8s. i882, s.f.
'
Maryland Coal
Pennsylvania Coal
ui
..! t!16
do
Cons, reg., 1st.,
do
Cons, coup.,2d.,
do
Cons, reg.,2d,...
Marietta & Cln. 1st mort
TOLiscel’ons Stocks.
do
10
10
10
10
78 of 1888
:e%
id
80
A. * O...
Ohio 6s, 1881
10
Funding act, 1866
Land C., 1389, J. & J....
Land C.. 1889, A. & O....
122
1863
do
do
96
do
lstreg
Denv.& Rio Grande 1st m.,1900
Erie, 1st mort., extended
do
2d
do
7s, 1879
do
3d
do
7s, 1883
do
4th do
78, 1830.........
do
5th do
78, 1888
do
7s, cons., mort., g’d bds..
do Long Dock bonds
Buff. N.Y. & E. 1st. m., 1916...
Han. & St. Jo., 8s. conv. mort.
111. Cen.—Dub.&Sloux C.,lstm
do
do
2a dlv.
Cedar F. & Minn., 1st mort..
1892.
.1893
Special tax, Class 1
I....
Ask.
108
25
April & Oct
,.1891
.
Bid.
BKCTTKITIE8.
South Carolina 6s
Jan. * July
bonds, J. & J
ItllSCELLANEOlJS
s...
do
do
2d mort...
Lake Shore—
Mich S. & N.Ind., S.F., 7 p.c.
Cleve. & Tol. sinking fund..
do
new bonds....
Cleve. P’ville & Ash., oldbde
do
do
new bds
Buffalo & Erie, new bonds...
Buffalo & State Line 7s
Kalamazoo * W. Pigeon, 1st
Det. Mon. & Tol.,1st 7s, 1906
Lake Shore Dlv. bonds
do
Cons, coup., 1st.
....
ioo"
do
pref.
Belleville* So. Ill.,pref.
St. L. I. Mt. & Southern...
St.L. K. C. & North’n.prel
Terre Haute & lnd’polls..
United N.J.R. & C
b n
do
do
do
.
104%,....
Indlanap. Bl. & W., 1st inort...
162
.
105
108
do
do
New
105% 10(5%
104%;....
Kens. & Saratoga, 1st coup
80
102%
31%
da
Ask.
loan...1883.
Funding act, 1866
104%
104%il03%
105^1
be.
par may
Rhode Island 6s, cp., ’93-4
North Carolina—
6s, old. J. & J
do
A.&O
N. C. RR
J. & J...
do
..A.&O...
do coup, off, J. & J.
do
do
off, A. & O
i8t ('ODh. £TUH
nn
Chicago* Alton
do
pref
103%
i8R7..
ANE
Albany & Susq.
(Activeprevi'usly quot'd.)
Albany & Susquehanna...
Burl. 0. Rap. & Northern.
102
Han. & St. Jo3., due 1886
Bid.
..
112
Funding, due 1834-5
....
103
76%
103%
105%
..
107
102%
102%
77%
74
Missouri 6s, due 1878
do
do
1882 or’83.
do
do
1386....
do
do
1837....
do
do
1833.
do
do
1889 or’9J....
Asylum or Un.,due 1892
...
109
68.
68,
20
77%
7s, small
Michigan 6s, 1873-79
do
6s, 1883
do
78, 1890
*
68
52
8s, of 1910
7s, consolidated
do
do
do
do
68,
52
52
do
100%
...
52
52
8s, do
bs, do 1875
do
do
8XOHBITIK8.
New York State68, gold, r eg....1887
6s, do coup.. 1887
52
new
value, whatever the
per cent
BONES.
Ask.
5-i
6s, levee
do
-
Bid.
68,new float’g debt.
7s, Penitentiary
do
do
3
3
107
Illinois 6s, coupon, 1879...
do
Louisiana 6s.
do
6s,
« •
• • • •
3
bonds....
do
•
8KCUEITIK8
42%
20
22
3
3
do 7s, Ark. Cent. RR...
Connecticut 6s
Georgia 6s
do
7s,
•
*20
do
do
do
sk.
Prices represent the
67%
110
84
66
66
50
20
110
101
101
.
....
.
....
_
...
.
...
.
c
.
,
im
100
106
ioo
....
j110
94
78
40
20
....
....
—
.
80
115
90
33
30
10
40
It 6
1C 6
25
....
-
82
40
November 16,
THE CHRONICLE,
1878.]
513
of the company by offering to the holders of short-dated bonds
bearing 7 per cent interest the option of exchanging their bonds
for five per cent perpetual debenture stock, on terms
Junes! w cuts
effecting
AND
a
saving of interest to the company of about 1 per cent per annum.
STATE, CITY AND CORPORATION FINANCES.
This option has been exercised by the bondholders to a consider¬
able extent, £61,400 seven per cent bonds
The Investors’ Supplement is published on the last Saturday
having been surren¬
of each month, and furnished to all regular subscribers of the dered, and exchanged for five per cent debenture stock to 31st
Chronicle. No single copies of the Supplement are sold at the July, 1878, and a further amount of £11,700 having since that
date been similarly converted.
The expenditure on capital
office, as only a sufficient number is printed to supply regular
account amounts to £29,938.
There is a further charge to this
subscribers. One number of the Supplement, however, is bound
account for discount or the final instalments on new shares and
up with The Financial Review (Annual), and can be purchased
debenture stock, amounting to £135,439, making a total debit of
in that shape.
£165,378 to capital for the half-year. Effect is now being given
to tbe agreements with the
mortgage bondholders of the Detroit
ANNUAL REPORTS.
& Milwaukee Railroad Company, which were
approved by a
resolution of tbe special meeting of shareholders on tbe 30th
Great Western Railway of Canada.
April last. The sale of tbe road under the foreclosure decree
took place on the 5th September, and it was
{For the half-year ending July 31, 1878.)
acquired by tbe
The following figures from the semi-annual report exhibit a purchasing committee appointed under the agreements. The
comparison of the half-year’s working with that of the corres- re-organization of the company, under tbe title of tbe Detroit
Grand Haven & Milwaukee Railway is being
ponding half-year of 1877:
proceeded with,
and at an early date this valuable Western connection will be
1878.
1877.
Gross receipts
£377,485
£370,514 worked as part of the Great Western system. Negotiations for
Cash working expenses, including renewals(bein£
a traffic arrangement with the Canada Southern
at the rate of 76*05 per cent in 1878, as compare*
Company, which
with 74*41 per cent in 1877)
237,(98
275,716 were in abeyance pending its recent re-organization, were
renewed during the summer, and have resulted in an
arrange¬
£90,287
£94,798 ment, taking effect from the 1st
August, under which, by the
Loss on working leased lines, tranefer to fire
award of Mr. Scott, president of the
insurance fund, interest on bonds and deben
Pennsylvania Railroad
ture stock, &c
92.118
97.995
Company, the through competitive eastbound and westbound
traffic passing through Detroit has been
apportione i; the Great
£1.731
£3,197 Western
Balance from previous half-year
receiving 60 per cent of the total through passenger,
2,478
and 55 per cent of the through freight
traffic, with provisions for
£747
Def. £3,197 the exsess over thege
8urplus
percentages carried by eitli3r company,
The transfers to tbe renewal funds, as was the case in the half- and for notices
determining the agreement.
year ended 31 July, 1877, have been suspended, the revenue of
the half-year, after providing for interest on bonds and debenture
GENERAL INVESTMENT NEWS.
stock, not admitting of the full credits to the funds on the usual
basis; but the actual expenditure on renewals has been charged
Atchison Topeka & Santa Fe.—The earnings and expenses of
to revenue, amounting in the present half-year to £26,603
(as against this road for September, 1878, are reported in detail as follows :
£9,762 in the corresponding half-year of 1877), and in addition
9 mos. to
9 mos. to
.
,
....
the usual credit to the fire insurance fund of £552 has been main¬
tained aDd charged to revenue account. The dividend on the
Freight
Passenger
Sept. 1878,
Sept. 1877.
$309,569
100,107
$200,890
67,194
3,165
3,330
-
Sept. 30,’78.
Sept. 30.’77.
$1,911,663
$1,161,777
528,279
711,545
62,675
30,254
8,670
preference stock for the half-year, amounting to £12,643, will Mail
6,941
28,491
a charge against future revenue.
3,460
The average rates for Express
29,541
Miscellaneous
442
460
'
6,337
through freight traffic compare very unfavorably with those
of the corresponding period of 1877; for, although the
Total
tonnage of
$420,521
$275,041
$2,724,819
$1,754,427
103,629
1391,824
through freight and live stock carried on the main line and Operating expenses... 199,783
918,969
Net earnings
220,737
173,402
1,332.994
branches has increased by 169,000 tons, or 39 per cent, the gross
635,457
Per cent, operat’g exp.
47 51
37*68
5P08
52*38
earnings from this traffic show only an increase of £8,977, or 6 per Miles operated, ave’ge.
741
789 6
bl8‘4
720*16
cent.
Since the termination of the half-year, the rates have
Central of N. J.—The Central Railroad Company of New
materially improved. The gross receipts on the main line and Jersey adjustment mortgage bonds have been placed
on the regular
branches compare with those of the corresponding half-year as call of the
Stock Exchange,
They amount to $5,550,000, $l,000s,
follows:
$5,000s, $100s, dated May 1, 1878, payable May 1, 1903 ; interest
Increase in through passenger earnings
£1.43!
per cent, coupons payable May l and November 1.
J
do
through freight
9 597 l
do
local Jive stock
Chicago Danville & Yincennes.—The Chicago Danville &
620
do
mails, express freights, and rents
Vincennes Ra lroad was sold in February, 1877, under a decree
_1,219 of tbe U. S. Circuit
Court, and subsequently transferred to the
>
£12,8C9
Decrease in local passenger earnings
Chicago & Eastern Illinois Railroad Company. An appeal from
£1.92-2
do
local freight,
the original decree to the Supreme Court of the United States
3,355
do
through live stock
619—5,S97 has now been taken.
It is claimed, among other reasons, that
the court erred in cutting off the right of redemption secured to
Total increase
£6,971the
its creditors by the statutes of Illinois. Also,
The percentage of working expenses to the gross
receipts has in company and
setting aside the funding contract extending the time of
been at the rate of 76 20 per cent against 74*41 in 1877,
being an
payment of the interest coupons, and decreeing that such interest
increase of 1*79 per cent. The increased charge for renewals
is, should be
paid within 20 days from the date of the decree, when,
however, alone equivalent to
per cent of the gross receipts ;
in fact, its payment had been extended for five years, and it had
and the proportion of the other expenses to
receipts has been
necessarily increased by the serious reduction in the through not then become due. The trustees of the second mortgage
freight rates. The percentage of workingfexpenses, on a gold bonds, by cross-bill, set up a lien upon four miles of tbe road
basis, for the last eight half-years is shown in the following connecting tbe Illinois and Indiana Divisions, and a portion of
tbe rolling stock.
This issue was not settled by the final or any
statement:
other decree. The trustee of the chattel mortgage is also a party,
Per cent of I
Per cent cf
and claims, under his mortgage and the State laws and Constitu¬
expenses to I
expense* to
tion of Illinois of 1870, a prior lien upon all the rolling stock over
Half-years ended—
gross rec’dts. |
Half-yearg ended—
gross rec’pts.
remain
-
.
,
,.
_
'.
January 31. 1875.
74• 38 1 January 31. 1877
78 11
July 31, 1875
90*32 I July 31. 1877
74*41
January 31, 1876
70*99 January 3!, 1878
63 19
July 31. 1876
73 63 | July 31, 1878
76'05
With the exception of the fire insurance fund, which has been
•credited with its halAyearly increment, the funds remain, as on
January 31, 1878, in credit
as
follows
:
Debit
Balance
Jan. 31,’7S.
Ferry steamers renewal fund..
Locomotive renewal fund
Car renewal fund
Rail and bridge renewal fund
Insurance fund
..
Leased lines suspense account
...
....
....
....
£15,547
120,944
44,297
23,536
1.1C4
...dr. 46,751
£158,677
or
credit
during the
half-year
Balance at
£....
July 31, 78.
£15,547
M^
j-20,944
•
•
•
44,*297
23,536
•
552
dr.
1,450
dr. £*98
1,656
dr.
48,212
£157.779
The amount at the debit of “leased line3 suspense
account” has
been, as mentioned in tbe last half-year’s report, increased by a
further outlay for renewal of bridges on the London & Port
Stanley Railway.
These debits will be gradually charged to
spread over the remaining terms of the leases. The
loss on working the leased lines of the company has been
reduced from £9,204 in the half-year to 31et July, 1877, to £5,041
in the present half-year, or an improvement of £4,163. The
receipts on capital account during the half-year consist of the
remaining instalments on new shares, and on five per cent
perpetual debenture stock, the issues of which have been
announced to the shareholders in previous reports.
Daring the
half-year the directors have taken advantage of the improved credit
revenue,
the first mortgage
bondholders.
Chicago & Iowa.—In the foreclosure suit of John N. Denison
and John W. Brooks, trustees, vs. The Chicago & Iowa Railroad
Company, a stipulation has been filed in the United States
Circuit Court, by which it is agreed that tbe suit of the Chicago
& Iowa Railroad Company against
Brooks and Denison, in
which an injunction has been ordered, shall be dismissed at com¬
plainants’ costs, and the ini unction dissolved without damages ;
the appeal in the above suit to tbe United States Supreme Court
from a former decree of sale is also to be dismissed, and no sale
shall be bad under said decree, and the cause is to be remanded.
No sale shall be had und-r tlie former decree until after Jan¬
uary
1, 1880, provided tbe following conditions
are
complied with:
1. The receiver is to pay $13,000 for all law costs and advertising
expenses up to the present.
2. In tbe meantime the receiver
shall be required to put and maintain the road and equipments
in first class condition, so as at all times to be safe for the passage
of all trains witnout unnecessary injury or damage.
3. On Jan¬
uary 1, 1879, the
in the custody of
receiver shall apply all moneys on his hands or
this court, not required for the maintenance and
operation of the road, to the payment of coupon interest on the
first mortgage in full, and shall pay the balance to the second
mortgage bondholders’ committee to be distributed pro rata to
apply ou past due coupon interest. 4. On July next all moneys
in the receiver’s hands shall be similarly applied. 5. If, on the
laBt day of July, 1880, the net earning of the road shall not be
sufficient to pay all arrearages of interest at coupon rates, then
the mortgaged property is to be sold without redemption. * * *
514
THE CHRONICLE.
7. The court may mate such further order
from time
shall be necessary to carry
out' the stipulation.
to time as
produced by the payment of the assessment on the shares.
This*
payment not only puts the company in funds to
complete neces¬
sary improvements, but also demonstrates most
effectually that
the English bondholders have at last
obtained the control of their
property. It wi 1 be their own fault now if
Chicago Rock Island & Pacific.—The
following statement
of earnings and expenses
of this railroad has just been issued
by
the treasurer, Mr. Francis H. Tows:
STATEMENT OP
EARNINGS
AND
OP THE
Earnings of Ap ril
Earnings of May
Earnings of June
DISBURSEMENTS
FOB
THE
858,338
4,478,095
2,333,137
Net earnings for six months
Payments for interest on bonds, rents, etc
Dividends, May 1 and August 1
.
$53T,5l 0
Comparative
over
statement for same
$3,873,357
2,202,048
Net earnings for six months, 1877
Payments for interest on bonds, rents, etc
Dividends May 1 and August 1, 1877
.
$583,662
839,192—
fcurplus for corresponding six months, 1877
Denver & Rio Grange.—The Boston
"
$l,b71,308
Articles of agreement between the Denver
& Rio
Propositions were made to the bondholders on
to the effect that no more bonds should be
issued
under that mortgage than should be
required to
complete the
road to Alamosa, and fund certain
ten-year certificates designated.
The bondholders
accepted the proposition, and it is now proposed
to limit the bonds to the amount
already issued for the purpose
of enhancing their value.
It declares that $6,382,500 of the bonds
have been issued under that
mortgage and no more, and agrees
that no more shall be issued.
The
Secretary has issued
the
“
‘The general annual
meeting of the stockholders of the Denver
& Rio Grande Railway Co. will be held at
the office of the com¬
pany, at Colorado Springs, Colorado, on the 29th
day of November,
1878, at 12 M., for the election of directors and for the
’purpose
of ratifying the
proposed lease of its line of railway, and for the
transaction of all regular and such
other business as may come
before the meeting/ ”
Missouri Kansas & Texas.—Judge Van
Brunt, in the
Supreme Court, Special Term, dismissed the
complaint
in the
suit of Levi Parsons
against the Missouri
Railway Company and others, which
of
was
Kansas
&
brought for the
Texas
purpose
setting aside the recent election of directors of the
company.
The court held it has no
jurisdiction of the case.
New York and
amounting in all
sum, to
be equal to all the necessary
expenses of
terly instalments.
Grande
Ap-il 13, 1877,
The capital stock of the
conducting the trust., and an additional payment of $1,000
per
annum, are to be paid by the lessees
during the continuance of
the lease ; provided, that the lessees shall
have the
privilege at
any time of anticipating the payment of all or
aoy of the quar¬
the
Railway Co. and Louis H. Meyer, the sole surviving trustee under
its $14,000,000
mortgage, were last week filed with the Secretary
of State of Colorado,
The execution of the
mortgage to John
Edgar Thomson of Philadelphia, and Samuel M. Fenton and
Louis H. Meyer of New
York, as security for $14,000,000 of
bonds, is recited.
following notice:
A further
1,422,854
Advertuer has
they do not look well*
may, therefore, be looked
scheme aa accomplished
$1,301,533.
to
$248,454
following:
assessment
Woodiu, of Berwick, Penn.
$114,911
period 1877:—
The
company
is $3,000,000 in shares of
$1,000 each.' An agreement has been
entered into with the N. Y. Lake Erie
& Western Railroad Com¬
pany, to begin January 1, 1879, to
manufacture,
let and lease to*
the railroad
company 2,500 box freight cars of classes A and B
for a term of five
years, the payments by the railroad
company
to be made in
twenty quarterly payments beginning at $74,216
and graded down to
$55,937 at the end,
243,451
Gross earnings, six moi ths. 1877
Operating expenses, six months, 1877
*
incorporators being John
Philadelphia ; Homer Ramsdell, John A. Hardenbergh and George B. Blanchard, of New York, and C. R.
$663,366
1877
*
Lowber Welsh, of
$2,144,957
914,091— $ ,481,591
Surplus earnings for six months, 1878
Surplus earnings for six months, 1S77
*
upon as paid, and the reconstruction
It lias b.-en well observed that if
fact.
an equal amount of success
attends the b >ndlioldr*rs in the
management of the property now
in their hands, there is
every reason to anticipate a
prosperous
future for the New York Lake Erie &
Western Railway.”
—A company has been formed in
New York to be known as
“
The Car Trust of New
York,” the
$710,028
762,9J.7
6l-<,67i
£56,884
871,234
Eai nines of July.
Earnings of August
Earnings of September
Gross earnings for six months
Operating expenses for same period
Increase surplus earnings
after it.’
FIRST SIX MONTHS
CURRENT FISCAL TEAR.
[V01„. XXVIL
The lessees are forbidden to make
any volun¬
or transfer of the lease or to underlet the
cars
the consent of the New York Car
Tru3t, the title to the
tary assignment
without
to be vested in the lessors until
cars
they shall have
paid for.
been
fully
It is also provided in the lease that
in case of default in
pay¬
ment for more than
thirty days, or for a failure to keep the cars
in good condition, the lessors
may enter upon the railroad and
the premises of the
lessees, and take all the cars wherever
may be found, and sell them as the best interests of the they
trust
may require, and hold the lessees
responsible for any and all
deficiencies that may occur.
Edwin D. Morgan and Alfred W.
trustees under the lease.
Morgan
are named as the
Northern Pacific.—This company invites
proposals for grad¬
ing, bridging and completing, ready for the
that
superstructure,
portion of its line extending from the west bank of the
Missouri
River, opposite Bismarck, to the Yellowstone
River, at or near
the mouth of Glendive Creek
; being a distance of about 200
miles.
Separate bids to be made on sections of 25 mile3 each.
The first, or easterly
section, to he completed by July 15, 1879 ;
the second
section, by
Aug. 1, 1879 ; the third section by Sept.
the fourth section by Oct. 1, 1879, and the other
sections
before January 1, 1880.
Ohio & Mississippi.—Notice is
given to first mortgage bond¬
holders that, by order of Court, their
July interest w.U be paid
November 30. The notice of
payment contains the following:
No interest will be
paid on the coupons, as the order of the
Court reserved for future determination the
question of paying
such
1,1S79
;
“
Brooklyn Bridge Funds.—The motiou by
President of the Brooklyn Bridge Com¬
The coupons are to be surrendered and
canceled,
of the owners will be taken and
reported
to the
a basis for the
calculation of interest, if the Court shall
hereafter allow it.”
legal question as follows:
Was the legislative provision in
question a mere appropriation, or was it a
limitation upon the entire cost? * * *
plain that the general powers conferred are Looking at the act, it seems quite
to the proviso that the
bridge is to be fully completed at a cost tosubject
the two cities of not more thau
eight millions of dollars.
Omaha & Northwestern.—The Union Trust
Company, trustee,
at foreclosure sale, requests bondholders
to meet at its office in New
Y’ork, Nov. 22, at 3:30 P. M., to take
action in regard to the
property.
Henry C. Murphy,
as
pany, to compel the city of New York to advance
$1,000,000 for
the completion of the
bridge has been denied by Judge Barrett.
In his opinion he states the
Judge Barrett
examines at length the other
provisions of the
law distributing the cost between
the cities of New York and
Brooklyn, and concludes that nothing can be derived from them
contradictory to the idea that the legislative intention was to
limit the whole future cost to the cities to
$3,000,000. He adds,
as his conclusion:
Without specially
considering the charges of waste and extravagance, or the
other points presented in
oppo=ition, the motion must, for these
reasons, be
denied, with $10 costs.
interest.
but
the
Court as
names
having bought this road
Pennsylvania Railroad.—The
trust scheme is commenced
papers.
No
by
a
active operation of the
great-
modest notice in the
amount of securities to be
ing the time for offers, is specified.
“
purchased,
Philadelphia
date limit¬
follows :
by the Pennsylvania Railroad
The notice is
nor
as
Notice is hereby given that the trust created
Company for the purchase of certain securities has been
organized, and that
offers will be received by the
managers of the trust, for the sale to them of
the bonds and shares of other
companies, the principal, interest or dividend
upon which is guaranteed by the Pennsylvania Railroad
Company. The offers
to be addressed to Wistar
Morris, chairman of the managers of the
trust, at
the office of the
Pennsylvania Railroad Company, Philadelphia.”
New York Lake Erie & Western
(Erie).—It
is
reported
that
Pullman
Palace
Car Company.—The ten-year 7
this company will obtain control of the
per cent
Atlantic &*Great Western
Railway. An Erie official states that two English trustees of debenture bonds of $1,000,000, dated October 15, 1878, and due
October
15, 1888, have been placed on the free list of the Ex¬
the bondholders of the Atlantic & Great
Western paid a visit to
change. The following statement accompanied the
this country a few weeks
ago and had several consultations with
application :
The gross earnings of the
President Jewett, of the Erie. The trustees
company for the fiscal year ending July
left for Europe Nov.
31, 1878, were
9, but previous to their departure an
$2,160,829
arrangement was reached Rentals of leased lines
$264,000
whereby the Erie Railway should have the option of
Interest, discount and exchange
16,715
the Atlantic & Great
long period.
Western,
of
or
leasing the
controlling
same for a
be consummated
by the
The matter remains to
respective parties in interest here and in
London, but
arrangement seems likely to be made.
The following, published in
London Nov. 2, is definite
the assessments paid on Erie shares :
some
to
“
Sir—A cable from New York
jtates that up
the
terday there had been 269,188 ordinary shares paidtoupon close of business yes¬
there, and 21,853 pref¬
erence shares.
These figures, added to the
numbers
following totals: Ordinary shares about 762,0C0, and paid upon here, give thh
preference about 80,700,
leaving about 18,000 ordinary shares not paid upon, and
about 4,600 preference
shares. Yours obediently,
“
J.
Reconstruction Trustees, Erie Railway
Mansion-House, E. C., Nov. I, 1878.”
"
Company,
D. Ayers,
Secretary.
1 Queen Victoria street.
Herapath’s Railway Journal, of November 2,
All the Erie stocks have
gone up
Thursday, observed:
“ *
The rise in all
buying
was
says
of Erie
:
in price, and the Times, of
descriptions of Erie stocks
from New York, and is attributed
was
marked.
to the
The
good effects
578,578—1,159,294
Total
$1,001,535
Railroad Commissioners Convention.—Railroad
commission¬
ers,
as
.
Operating expenses...',
representing Massachusetts, Illinois, Iowa,
ia, Vermont, Missouri, Connecticut, Maiheand Michigan, Virgin¬
Ohio, held a con¬
vention at
Columbus, Ohio,
to consider matters
connected with
official duties.
A special committee was
appointed to consider
the subject of accounts and mature a
system of uniform railroad
bookkeeping. A committee was appointed to report on matters
of taxation as respects railroads
and railroad securities in various
States,
as
well
foreign countries, and report a plan for an equit¬
able and uniform
system of such taxation at the next convention.
Railroad
agers
as
Conference—East-bound
Pool.—The railroad
man¬
representing a large number of Western roads met in this
city last week. Among those present were Commissioner Albert
Fink, of the Eastern trunk lines, and Mr.
McCullough, of the
Western trunk lines. After considerable
discussion, the conven
,
THE CHRONICLE.
November, 16, 1878.
tion effected arrangements
looking to the pooling of east-bound
freight, and including thirty-four Western roads, under the management of one commissioner.
A commission is to be appointed to
gather and arrange the
statistics necessary to a proper
understanding of the basis 'or
pooling, and the naming of the members was delegated to the
Executive Committee of the Western
The settlement
managers.
of the ratio of division of proceeds was referred to the
managers
at the respective pooling centres, to whom the railroads must
look for their special arrangements.
The following additional
pooling points (that is, points for the
division of the freight) were
designated : Evansville, Ind.; Cairo,
111.; Terre Haute, Ind.; Logansport, Ind.; Pekin, Ill.; Columbus,
Ohio ; Toledo, Ohio; Detroit, Mich.;
Port Huron, Mich.; Cleve
land, Ohio, and Joliet, Ill.
It was determined to advance the rate3 five cents
per 100 lbs.
on all eastward-bound
grain and freight of the fourth class, this
change to take effect on the 25th of the present month. The
I famine.
.515
We had the
phenomenon of great scarcity in the south
plenty in the north, which led to large quantities of grain
being moved from one end of the country to the other. The
receipts from this source were a substantial set-off against the
very heavy charges incurred by the government in the relief
of
famine. Tbe railways were thus
instrumental, not only in
alleviating distress and preserving life, but in reducing expendi¬
ture.
It
and
may be computed
receipts are due to famine
time, be borne in mind than
oilier more profitable traffic,
ciency of rolling stock, and
to the
conveyance of grain
that, about £600,000 of last year's
traffic; but it should, at the same
this
was realized at the
expense of
which was excluded by an insuffi¬
by the preference necessarily given
over other commodities while the
demand for food existed. With the
exception of this slight
extraneous favor, the supplies were obtained
entirely through
the natural
course
of trade.
St. Louis Kansas
City & Northern.—Mr.
John B.
Henderson,
attorney for the receiver of the National Bank of the State of
Missouri, appeared before Judge Lindley, of the Circuit Court,
Railways in Iudia.—The annual report of Mr. Juland Dan¬ in St. Louis, and presented
a petition of receiver
vers, government director of the Indian
railway companies, made asking authority to dispose of certain railroad stocksJohnston,
and real
to the Secretary of State for India,
upon the condition of the estate
belonging
to
the
suspended
bank
to
Calvin
F.
Indian railway system for 1877-78, was
recently published. The Bumes, of Sc. Joseph, for the sum of $336,497. The
petition
principal facts are contained in the following summary: The states that
the assets of said bank are the following:
length of railway now open in India is 7,551^ miles, of which 9,818 sharesamong
of the preferred stock of the St. Louis
Kansas
492} were completed during the year 1877, and 228 since the close
City & Northern Railroad Company, and 6,986 shares of the
of the year.
There are 806£ miles laid with a double line; 5.912£ common stock
thereof, and that the market price of same is 20
miles are constructed on the 5 feet 6 inch
gauge, and l,638f on for the preferred and 4f for the common
stocks, for sales.
narrower gauges.
The most important operations have been con That Calvin F. Bumes offers to
purchase said stock and real
nected with the state lines, to which 580 miles have been
added. estate for 336,497, being equivalent to an advance of
$4 75 per
The line which proceeds through Northern
Bengal towards the share for the preferred, and
per share for the common stock
hills at Darjeeling, the Dhond and
Manraad, and that between aforesaid over the market rate of sales, and
$90,000 for the real
Rangoon and Prome, have been opened for traffic. The Punjaub estate aforesaid.
Judge Lindley made an order
westward rates
were
not
altered.
Northern line has also been finished to Jhelum, and the South
Indian has been extended 132f miles. The Indus
Valley will be
ready for traffic in the course of this year.
The capital outlay on the state lines amounted to
£3,122,051,
and
in the
guaranteed lines to £1,374.882, bringing the total
up to the end of October as regards the state,
and to the end of March last as
regards the guaranteed, lines, to
£113,144,541. The expenditure up to the end of the year may be
capital expenditure
taken in round numbers
The revenue derived
at
£113,344,500.
from all the open lines
during the year
was £6,232,888, of which
£6,091,532 was earned by the guaran¬
teed lines, with a capital of
£95,482,941; and £141,356 was earned
by the state lines, on a capital expenditure of £17,661,600. The
net
r
receipts from the guaranteed lines exceeded the amount
advanced for guaranteed interest by
£1,454,591; the year before
there was a deficit of £216,517. The
average receipts per cent,
for the year were £5 5s.; the maximum earned was
£9 per cent,
by the East Indian. The Eastern Bengal yielded £8, the Great
Indian Peninsula, £6 10s., and the
Bombay Baroda & Central
India £5 6s. 4d. per cent per
annum.
NET EARNINGS OP THE INDIAN RAILWAYS
DURING
1677
Percentage
Per train
Guaranteed—
East
East
Amount.
Indian, main line.
Indian, Jabal. line
mile.
6*36
545
3-96
211
6 69
3*48
267,325
Great Indian Peninsula*
Madras
Bombay & Baroda
...;Y
Scinde Punjaub & Delhi
South Indian
414,845
383,944
Eastern Bengal
260,747
Berar—Amraoti
.....
Berar—Khamgaon
1.779
...i
9,806
Neemuch
Nizam’s
Wardha Valley
..
Tirhut
Holkar
Deduct for lossest
Total
Total for all
receipts.
68’78
62 73
53 93
40 74
58-a3
7-37
44 92
48-55
6f>' 58
311
47 62
railways
.
1,989
O’S3
13'26
17’ 13
4 23
Q 79
192
0’63
1'40
1 81
1’47
1’46
65 79
38-13
14-79
31*85
17’38
2248
27-87
30-24
23-78
—2,005
....£6,232,388
*
The receipts from tbe lines woiked
by this company are deducted,
t The Nalhati and Northern
Bengal state railways were worked at
of £42 and
has confirmed the foreclosure sale of this road and ordered
the
deed to be executed to the bondholders who
bought it.
Southern Minnesota Extension.—The grading of this road
is now finished to Jackson, Minn., 25 miles west from the
present
terminus at Fairmont, and the work of
laying the rails is in
progress.
Texas & Pacific.—The Parker County Construction
Company,
local organization, has taken the contract to built the extens on
of this road from Fort Worth, Texas, westward to
Weatherford,
about 30 miles.
The company agrees to begin work at once and
take its pay in bonds.
a
Warsaw.—The following is the show¬
ing of A. L. Hopkins, receiver, as made in his report for Septem¬
Toledo
Peoria •&
ber and October
:
RECEIPTS.
Balance September 2
$78,990
Receipts for September
Receipts for October
153,406
172,633
Total
*.$405,030
EXPENDITURES.
For September.
For October
..
Punjaub Northern
Rajputana
to gross
258
Oude & Rohilkund
Total
State—
Calcutta, & Southeastern
of net earn’gs
granting the
permission to make the sale as prayed.
St. Paul & Pacific.—The track on the St. Vincent extension
has finally reached the Manitoba line at St. Vincent or
Emerson,
which is 154 miles northward from the Northern Pacific
crossing
at Glyndon, 200 miles from
Breckenridge, and 417 miles from St.
Paul. The road is not yet ready for
passenger trains, but will be
in condition in a
very short time, and in a few weeks the connect¬
ing branch of the Canadian Pacific will be completed, so that
trains can run through from St. Paul to
Winnipeg.—R.R. Gazette.
Selma Marion & Memphis.—The Alabama Court of
Chancery
receiver
£1,963, respectively.
a
loss
Bilance
on
$141,348
138,724
hand
$124,957
Troy & Boston.—The Troy & Boston Railroad has been
mortgaged for $1,000,000. The mortgage bonds to be issued are
to take up $500,000 of bonds due in 1882, and to
liquidate the
floating debt.
Wabash.—The N. Y. Tribune gives the following: We are
now able to
present the results of this company’s business for
nine months to September 30 of the current year.
The first two
periods of 1878 mentioned in the subjoined table are the reports
ot William B. Corneau, treasurer of the company, made to the
United States Court. The third, for September, iB that furnished
by the company’s agency in this city. They compare with the
same
months of 1877
as
follows
GROSS
:
EARNINGS.
1877.
These large receipts were obtained at a less
proportionate
1878.
expenditure than in any previous year. The aggregate earnings January 1 to Apri 30.
$1,347,734
$1,493 628
Inc, $145,891
were £11,236,121, and the
1,531,365
Inc.
1,653,737
working expenses £5,003,223, beiug May 1 to August 31
1*2,372
an
Month of September
Inc.
462,90J
544,660
average of 44 per cent of the gross receipts.
81,760
The receipts
from passengers were £2,844,000; from
goods, £7,675,414; and
$3,341,999
Inc. $350,026
$3,692,025
from miscellaneous sources, £716,707.
ING EXPENSES.
Compared with the
previous year the net revenue showed an improvement of
$1,098,236
Dec. $68,291
$1,025,945
£1,686,1,146,914
Inc.
1,248.764
914. The expenses of the East Indian (main
101,850
line) were only 31
328,182
Dec.
317,278
9C4
per cent of the gross receipts ; those of the Eastern
Bengal, 41;
of the Great Indian
$2,569,332
Inc.
$2,601,981
Peninsula, 48; of the Madras, 59.
$32,655
EARNINGS.
The number of passengers carried was 34,143,512, with an
Inc.
$772,657 r
$1,090,038
$317,371
average mileage open of 7,021| miles, compared with 30,535.319 Nine months’ proportion of insur¬
of the previous
ance
and
improvements as per reyear, with a mileage of 6,694.
The proportion
243,446
243,446
per cent of the first class was 63-100; of the second, 2
23-100;
and of the lower classes, 97 14-100.
Inc. $317,371
$529,221
$346,592
The weight of goods carried amounted to
8,309,943 tons, Nine m nth’s proportion of first
Inc.
668,624
charges as stated by company....
compared with 5,794,949 of the previous year.
1,011,976
343,352
The proportion per cent of the
gross revenue from passengers
Deficit
$165,384
Inc.
$139,403
$25,981
was 25
77-100, and from merchandise, including minerals,
The foregoing statement does not include the payment due on
69 37-100.
’
■
account of the Senev mortgage and other charges omitted in the
The operations of the year have been especially marked
by the company’s statement for 1877, hut which amount to nearly
important part railways have played in connection with the $300,000 for the whole year.
.
.
..
.
-
516
THE CHRONICLE.
[VOL. XX/II.
%\it Commercial Jpmes.
OOTTON,
Friday, P. M., November 15, 1878.
~~
COMMERCIAL EPITOMR
Friday Night, November 15.
slight impulse given to business by the termination of the
yellow fever epidemic, and the obstructions which it imposed to
communication with the Southwest, is no
longer felt, and trade
circles begin to assume the aspect usual to the period ** between
seasons,” which we are now approaching. The probable early ter¬
mination of inland navigation at the North and West restricts in
a measure the
pressure to sell bulky articles of produce, causing
an accumulation of stocks in
store, and by this process some¬
what diminishes for the moment the volume of
exports. The
weather continues quite seasonable.
The market for provisions has been irregular, and
speculation
in lard varied as the receipts of swine increased or decreased.
Mess pork has shown little change, but, on the
whole, rather
tended upward.
The speculation has been mostly m new mess
for February delivery, and yesterday 1,000 bbls. sold for that
month at $9@9 05, while old mess on the spot ranged
from $7 65
@8 00. To-day, there was a better demand on the spot, but futures
dull ; new mess offered at $9 for
February. Lard declined to
$6 17£ and advanced to $6 30 for prime Western, on the spot,
and options for February sold as low as
$6 27|, and as high as
$6 45. To-day, the market was slightly dearer, prime Western
closing at $6 25, spot and December, $6 30 for January, and $6 35
for March.
Refined lard for the continent has sold more
freely at
$6 60@6 75. Bicon has been quoted at4fc. for Western long clear.
Cut meats lower, but the most important decline is in
pickled and
TnE Movement op the Crop, as indicated
by our telegramsfrom the South to-niglit, is given below.
For the week ending
this evening (Nov. 15). the total
receipts have reached 176,004
bales, against 182,874 bales last week, 157,280 bales the previous
week, and 1.62,236 bales three weeks since; making the total
receipts since the 1st of September, 1878, 1,304,233 bales, against1,125,721 bales for the same period of 1877, showing an increase
since September 1, 1878, of 238,512 bales.
The details of thereceipts for this week (as per telegraph) and for the corresponding,
weeks of four previous years are as follows:
The
“
smoked hams.
New Western
beef has
met
with
a
follows:
1,164 cases Pennsylvania, 10^23Vc ; 100 dx New England, 12^
20c; 598 do. Wisconsin.7@9:-; 30 do. Ohio, 7@10c.; 101 do New
York, private terras, all crop of 1877. Spanish tobacco unchanged;
sales 500 bales Havana at 85c.@$l 10.
Brazil coffees have latterly shown
weakness, in consequence of
the limited movement and the
very material increase in the sup¬
plies ; the stock of Rio in first hands
being,, at the moment,
72,659 bags; fair to prime cargoes are quoted at 14f@16£c., gold ;
mild
grades, on the contrary, are in small stock and firmly held.
Late sales include : 5,523 bags Maracaibo and
2,000 bags Savanilla at quoted figures. Rice and molasses are without
new
features; trade has been slow and prices more or less nominal.
Refioed sugars have also been quiet and somewhat
depressed ;
standard crushed quoted a", 9fc. Raw
grades have naturally been
in sympathy;
fair
to
good refining quoted at 7@7|c.
Stock Nov. 1, 1S75
Receipts since
Sales since...
Stock Nov. 13. 1878
Stock Nov. 14, 1877
Stock Nov. 16, 1576
There has been rather
neither berth
Hhds.
Boxes.
49,267
12,720
15,5*23
46,474
9,Ht;0
1,172
14V.89
728
19.437
-
',5i>
room,
chartering tonnage being wanted to any im¬
portant extent; holders of room, however, have succeeded in
maintaining rates with a fair degree of steadiness. Late engage¬
ments and charters include:
Grain to Liverpool, by pteam,
8d.;
nor
cotton, £(5)9-32d.; bacon, 40s ; cbeese, 45s ; flour, through
3s. 6d.; grain to London, by steam, 8d., 60
lbs.; flour, 3s.; do., by
sail, 2s. 3d.; grain to Hull, by steam, 8d.; flour to Glasgow,
by
sail, 2s. 6d.; do., by steam, 3s. 6d., through freight; grain to Gork
for orders, 5s. 10£d. per
qr.; do. to Bordeaux or Antwerp, 5s. 9d.;
do. to Marseilles, 5s. 6d.; do. to Rouen, 5s.
to
freight,’
31,799
20,372
299
2S2
12,887
2,584
8,959
17,283
5,161
6,435
176,004
Indianola, &c
Tennessee, &c
Florida
Norm Carolina
Norfolk
City Point, &c
...
56,307
1875.
1874.
731
391
23,984
7,614
46,833
22,908
24,177
2,236
27,130
27,188
1,655
10,339
1,066
8,146
32,130
1,798
6,707
24,770
1,681
4,969
18,399
2,418
194,571
205,606
186,135
152,433
-
193
7,620
55,252
16,843
19,834
-
422
27,000
25,767
37,OSS
16,383
20,043
1,081
23,835
17,230*
387
797
6,741
9,798
Total since Sept. 1. 1,364,233 1,125,721 1,424,903 1,249,941
1,113,054
4
The exports
for the week ending this evening reach
a
total of
117,766 bales, of which 65,039 were to Great Britain, 12,437 to
France, and 40,290 to rest of the Continent, while the stocks as
made up this evening are now 511,462 bales.
Below are the
stocks and exports for the week, and also for the
corresponding
week of last
Week
season.
EXI’OHTEI) TO—
ending'
Great
Britain.
Nov. 15.
N. Orl’iis
France.
5,981
Mobile..
Charl’t’n
Sa van’ll.
5,770
7,411
nent.
7,653
13,634
100
100
11,665
18,727
1,100
1,045
23,385
29,256
14,4051
....
10,986
5,950
3,113
2,319
N. York.
Galv’t’n-
5,847
100
Norfolk-
12,960
Other*
16,084
..
•
»
•
Total
this
Week.
Conti¬
....
950
week..
1877.
....
“6,992
....
1878.
29,332 102,478 166,912
21,479 39,605
20,005 96,570 78,201
15,649 91,458 SI,724
4,320 96,842 71,174
11,647 53,735 54,923
12,960
17,034
•
STOCK.
Same
Week
1877.
4,750
8,485
Tot. this
16,900
32,000
36,120
44,000
<r>
03,039
.
12,137
40,290
117,766
94,188 511,462 572,659
-
Tot. since
.
Sept. 1.
441,891
48,876 135,328
626,095
415,627
*
The exnortB this weeK under the head or *otner
p.***is” uciude. rro.u Balti¬
more. 2,687 bales to Liverpool; from Boston, 3,705 bale? t • Liverpool: from PhllalelDhla. w52 bale* to Live'-pool; from Wilmington, 2.47J hal-is to
Liverpool
and 950 bales to Havre ; from Pensacola, 6,300 bales to Liverpool.
•
In addition to above exports, our
telegrams to-night also give
shipboard, not cleared, at
the ports named.
We add also similar figures for. New York,
which are prepared for our special use by Messrs. Carey,
Yale &
us
the
following amounts! of cotton
Lambert, 60 Beaver street
On
Nov.
15, AT—
Liver¬
119
S9
26,379
21,390
Galveston
’277
1,974
-268
Savannah
1816
69,5:3
700
Royal, &c
Total this week
1876.
15,374
24,323
Charleston
Port
1877..
38,871
19,723
21,768
Mobile
Melado
1 3,610
10,104
18,3*9
233,372
11,242
77,24*2
slack business in ocean
freight
53.051
13,161
a
Bags.
1878.
at
New Orleans
moderate
demand at firm prices.
Beef hams have declined. Butter and
cheese slightly improved, but close barely
steady. Tallow has
been active at G4@G 9-16c. for prime.
Stearine has sold freely at
7c. for prime city.
There has betn more doing in
Kentucky tobacco the past week,
owing to the completion of negotiations for a large line for
export. Sales, 2,309 lihds., 2,100 lihd-*. for export and 200 for
home consumption.
Prices are firm, and lugs quoted at
2£@5c.,
and leaf 51 a: 14c.
Seed leaf, though in good demand, has not
been so active as last week.
The sales are 1,993
cas^s, as
Receipts this w’k
NewOrleaiis
Mobile
Savannah
Galveston.
New York
Total
*
..
on
:
Shipboard, not cleared—for
Coast¬
wise.
Total.
32,250
None.
53,500
2,100
17,000
None.
3,500
2,625
None.
7,500
44,500
40,531
*4,550
49,000
13,979
46,958
56,311
49,185
6,125
150.581
215,433
France.
6,500
1,000
21,000
16,293
1,800
14,750
4,400
3,000
10,545
11,068
800
1,950
46,593
33,495
Included in this amount there
Leaving
Other
Foreign
pool.
64,36-8
Stock.
bales at Presses for
are
ports, the destination of which we cannot learn.
From the foregoing statement it will be
foreign
that, compared
there is an increase
in the exports this we^k of 23*578 bales, while the stocks
to-niglit
are 61,197 bales less than
they were at this time a year ago. The
following is our usual table showing the movement of cotton at
all the ports from Sept. 1 to Nov. 8, the latest mail dates:
with the
corresponding week of last
seen
season,
74d.; do.
Oporto.
18|@19£c. gold per bushel; refined petroleum to the Continent,
3s. 6d. per bbl.; naphtha to Sables d’Olonne, 4s.
6d.; cases to
Oran, 23c. gold. To-day, rates remained steady; grain to Liver¬
RECEIPTS SINCE
EXPORTED SINCE SEPT. 1 TO—
SEPT. 1.
pool, by steam, 8d.; do. by sail, 7|d.; hops to London, by strain, Ports.
Stock.
Great
r-t
id.; grain to Bristol, by steam, 8d.: do. to Havre or Antwerp, 5s.
Total.
1878.
1877.
Britain. France. O
o
3d., per qr.; do to Rochefort, 6s.; do. to Havre or
Dunkirk, 5s,
10£d.; refined petroleum to Bremen, 3s. 4£d.; do. in cases to N.Orlus 118,814 212,351 35,796 9,956 15,359 61,111 71,826
Mobile.
83,458
48,603
Java, 38c. gold.
10,134
10,134 15,057
Char’n* 226,221 150,945
Naval stores have been rather quiet, until the
40,022
8,540
23,528
72,090
101,850
Cose, when an
advance in sp rits turpentine was caused
74,250
«>,81 o 38,516 118,641 101,939
by increased demands, Sav’li.. 313,951 181,609
due to higher advices from
Wilmington, and also a slight Galw*. 200,468 122,486 29,803 5,706 6,152 41,661 93,426
improvement in the English market?; now quoted at 29£c. bid, N. York
23,307
4,044
89,732
4,312
4,043
98,087 47,338
and 30c. asked. Rosins are unchanged common
Florida
972
12,390
;
to good strained
being quoted at $1 35@$1 49. Petroleum has continued at a N. Car.
50,992
40,506
17,526
2,050
1,680
21,256 16,007
standstill; crude, in bulk, 5£c.; refined, in bbls., 9£c. bid. Norf’k* 168,753 125,731
43,938
43,938 22,125
American pig iron is dull and demoralized, the failure of
24,730
9,048
35,651
the Other..
41,411 13,500
5,760
Allentown Company causing quite a commotion
; No. 2 is selling
•'
This
yr. 1188,229
376,852 36,439 95,038 508,329483,068
at $16 per ton.
Lead has advanced and has sold at $3 85 for
common domestic.
Ingot copper has continued quiet and Lastyr.
931.150 238.643 37.087 45,709 321.439 519.314
unchanged at 15£c., cash, for Lane. Cloverseed more active at
LTnaer the head of Charleston is Included Port Royal, &c.: under
the head ot
Galveston is include 1 Iudlanola, &c.; uader the head of Norfolk is Included
7@7£c. per lb., but other eeeds qu‘>et. Whiskey lower at $1 09.
City
Point, &c.
......
.
......
„
•
....
*
,
»
November
THE CHRONICLE.
16, 1878.]
These mail returns do not correspond
of the telegraphic figures, because in
tales.
5,700...
2,000...
3,700
precisely with the total
preparing them it is always
necessary to incorporate every correction made at the ports.
There was a very good
general demand for cotton on the spot
the first half of the week, and on
ets.
9-41
Bales.
1,100
2,100
2,400
2,800
3,500
..
2,900...
10,100....
10,800...
..
.
.
9*44
100
100
400
200.
200
100
600
For March
700
9-57
2300
9-58
9-60
2,400
400
9-01
1,40(L
9*02
963
1,20#
100
964
200
9-«5
100
9-66
r
400
967
1,100
968
3,000
9-69
1,000
0-70
500
9*71
972
1,000
700
9 73
100
9-74
700....
9-75
500
9-70
300
977
100
fi-78
100
979
0-80
2,000
400
9-81
700
9-82 1
9-83
1,400
...
..
400
1,000
800
200
300
300
900
1,900
2,700
1,600
100
800
300
Bales.
800
M0
700
uts.
9-99
10-00
1001
.
1,500
10 02
300.
1,100
10-03
1064
100
10-0tt
10,600
For Jun<*.
200
9-93
200
9-94
500
9 96
200
10*04
400
10-05
100
10* 0ft
500
10-07
100
1008
600
10-12
800
1013
400
10 14
4,0o0
Far
200.
16,300
For
1,200
....
..
9-72
9*73
9-74
9-75
9-77
9-78
9-79
9 80
9-81
9-82
9-83
9*84
9-87
9*88
9-89
9-90
9 91
9-92
993
W94
9 95
1,600
•
..
08.31
9-68
9-69
9-70
971
43,600
-*r
to
For April.
Bales.
ct«.
100
9-09
900
9-70
700
9-71
966
9-67
800
...
.
Ct8.
9*64
9*65
1,500
2,300
8.500...
Wednesday quotations were 10,400....
advanced 116c., to 9|c. for
1,600....
9 49
middling uplands. This, however,
9-50
1,800...
had the effect of bringing business
800....
nearly to a standstill. To day,
951
6,500....
prices were steady, but the demand was limited to home spin¬ 5,700....
7,600...
ners.
For future delivery, the speculation has been
only moder¬ 13,400....
7,900...
956
ately active, and in the course of Saturday and Monday prices 13,800
9*57
958
slightly declined under adverse foreign advices and the general 11,400...
4,100....
959
lack of confidence in the situation.
Monday afternoon, however, ioo,TOo
there was'some re-action towards
higher prices, which was
F
Februarv.
favored on Tuesday and
700....
9 45
Wednesday by stronger accounts from 1,300.
9 46
Liverpool, and at noon on Wednesday about the highest figures 4,300
of the week were made, as follows :
9-48
1,800....
November, 9 3:; December,
2,000
9*46; January, 9*59; February, 971; March, 9*83; April, 9*94;
600....
9-50
May, 10*04; June, 10*13, and July, 10*22; an advance of from 18 1,500....
9-51
800....
to 26 hundredths from the lowest
figures on Monday. This ad¬
300....
9-53
vance
200
naturally brought out sellers to realize profits, and gave a
500
downward
517
May. *
9*81
9-82
9-86
987
400
300
400
400
200
100
July.
ift-nft
100
200
200
500
100
100
300
100
100
100
800
100
1001
10-02
10 03
10-04
10-06
1007
10-10
values, to which a decline in futures at Liv¬ 3,660....
9 90
10-11
erpool on Thursday contributed, and the opening on that day was 2,400....
9*57
991
10-14
1,600....
9-92
....1020
fully ten hundredths, below the highest figures of Wednesday;
900....
9-93
1,300
10*22
but when it became
3,100
200
apparent that receipts at the ports would be
9-94
10-23
800.
»-0l I
200
9 95
light, comparatively, prices recovered to about the highest figures
500....
500
22,900
9 98
2,930
of Wednesday.
To-day, the opening was stronger on the better
The following exchanges have been made
during
the week:
report from Liverpool, but the demand proved limited, and.at the
•11 pd. to exch. 400 Dec. for
•11 pd to exch. 100 Dec. for Jan.
Jan.,
•21
pd.
to
exch.
100
Dec.
for
Feb.
close, under rumors of a favorable Bureau report, the advance
*12 pd. to exch. 100 Dec. for Jan.
06 pd. to exch. 200 Nov. for Dec.
•18 pd. to exch. 700 No-. for f an.
of yesterday was
*0% p<i. to »xc h. 300 Nov. for Dec.
wholly lost.
•25 p 1. to axcb. 100 Jan. for Mar.
•46 pd. to exch. 100 Jan. for
The total sales for forward
•13 pd. to exch. 100 Dee. for Jan.
May.
delivery for the week are 324,900
The following will show the
bales, including — free on board. For immediate delivery the
closing prices bid and asked for
total sales foot up this week 8,804
bales, including 1.736 for export, future delivery and the tone of the market, at 3 o’clock P. M.,
5,110 for consumption, 168 for speculation and 1,790 in transit. Of on each day in the past week:
the above, 100 bales were to arrive.
The following tables show
MIDDLING UPLANDS—AMERICAN CLASSIFICATION.
the official quotations and sales for each dav of the
past week:
course
UPLANDS.
8aturday, Nov. 9,
to
Friday, Nov. 15. Sat.
Ordinary
$ lb.
Middling
Middling Fair
"716
Mon Sat.
77te
77s
7716
778
8*8
8*8
9
8**16
81*10
9
9
9fs
9*8
9is
9*16
9*16
9916
91*16
9916
9**16
Sat’day. Mond’y T’sday.
TEXAS.
Mon Sat.
Market—
7Hi6
8*8
818
8*8
818
8*8
81*16
9*ie
9116
9*8
914
9*8
914
9*8
9
$ lb.
7Hl6
8*8
8*8
8*8
8*8
9116
9116
914
9*8
Nov’mb’r.
Decemb’r
7“16
January..
February
March.
ll16
77s
Strict Ordinary..
Good Ordinary....
8*8
Low
9
8trict Good Ord...
d*ie
Middling
Btrict Low Mid....
9*8
Middling
7716
7*2
71o16
8716
77b
71*16
8‘16
8*8
9ii0
8*8
878
81*16
878
9116
9*16
9
9116
9*16
919
9*8
9*16
Good Middling..
9*8
9916
Strict Good Mid...
91*16 97s
Middling Fair
10*16 |10*8
Fair
101^16 11
9*16
99,0
.
Th.
Ordinary
$ lb.
Strict Ordinary...
Good Ordinary....
Strict Good Ord...
Low Middling
Strict Low Mid....
Frt.
7*«
7*2
7**16
8716
878
9lia
Middling
9*8
Good Middling....
Strict Good Mid.
9%
97s
10*8
.
Middling Fair
Fair
11
Til.
7*2
71°16
87t6
71016
878
878
gh«
9*16
ollG
9*16
9*8
9*16
11
Frf.
Til.
7*2
7*4
7*°16
die
8*16
918
81*16
9*8
8*16
dljtt
8*16
878
8*16
d*16
91l6
9*10
9*8
9*16
9716
9*8
9*16
9‘16
9*16
9*8
97s
9*16
9716
9*8
978
978
978
10*8
11
11
!
10*8
10l€
10 *8 * 10*8
III4
*1J4
,
'
7>
81*10
10*8
9*8
97s
10*8
10*8
1114
11*4
1018
■
CLOSED.
.
.
Quiet, steady
Barely steady...
Quiet, firm
Quiet, st’dy.highr
Strong
Steady...-.
Total
*
Frl.
7*8
die
7*8
8is
813
89jo
8*8
8*8
7*8
818
8*8
9
9
81°16
9
Ex-
{ Conport. | sump.
370
483
775
144
1,158
200
247
1,730
Spec- Tran¬
ul’t’n
*68
703
850
957
899
5,110
ioo
.
sit.
900
200
050
40
FUTURES.
Deliv¬
Total.
Sales.
-r
*
100
100
lOOs.B.lStU
300
9-24
100
9 25
200 8.D. 18tb 9 28
400
o-aa
800
9 27
100
9 28
600
9-29
9*30
1,200
400
9 31
100
9 32
2,800
Uts.
9-34
9-36
9 37
9-38
9 38
1,753
2,001
1,107
1,800
1,244
23.300
70.300
63,900
45,100
01,100
01,200
899
8,600
For December
1,000
9-22
800
9-23
9 24
4,900
9 25
5,500
900
9-26
1,000,
9*27
—
..
Gold
Exch’nge
100i8
4-79
108 1,790
8,8041324,900
700
500
etc.
9-28
9-29
1,700
2.800
9-3<)
9*31
9-32
9 33
9 -4
9-35
9-36
9 37
9-38
9-39
9*40
9*41
800
4,200
4, <00
4.100
5,500
3,400
400
2,200..
1,500...
......
9*42
r
Firmer.
Firmer.
Easier.
Bid.
A*k.
Bid.
A^k. •Rid.
A»k.
’
100*8
100*8
4-79^
4-79io
100*8
100*8
4-80
100*8
4-80
4-80
The Visible Supply of Cotton, as made
up by cable and
telegraph, is as follows. The Continental stocks are the figures
of last Saturday, but the totals for Great Britain and the
afloat
for the Continent are this week’s
returns, and consequently
brought down to Thursday evening; hence, to make the totals
the complete figures for to-night (Nov. 15), we add the item of
exports from the United States, including in it the exports of
Friday only:
.
.
Total Great Britain stock
Stock at Havre
Slock at Marseilles
Stock at Barcelona
Stock at Hamburg
Stock at Bremen
Stock at Amsterdam
1878.
282,000
1877.
37 L,000
429,000
33,250
1875.
540.000
21,500
29,500
63 50#
315,250
392,500
145,250
5,000
39.000
9,500
458.500
009 500
188 OOO
2 000
? 0,000
108,750
.
1,750
7,000
3,500
22,000
.
Stock at Rotterdam.
Stock at Antwerp
8tock at other conti’utal ports.
31,750
0,750
2.750
1870.
150,750
3,500
53.000
8,000
43.000
53.750
12.000
41,750
29,500
9,000
5,000
1,300
1,900
1,100
500
800
000
0,200
fiipa.
1,500
2,400
1,200
1,900
14, >00
31,750
52,250
It, KM)
7,750
9,250
10,250
13,500
Total continental ports....
192,000
290,250
353,750
361.250
Total European stocks....
India cotton afloat for Europe.
507,250
100,000
688,750
970.750
Egypt,Brazil,&c.,atlt for E’r’pe>
379,000
19,000
812,250
174,000
329,000
84,000
.
Stock in United States ports
Stock in U. S. interior ports...
..
511,462
United States exports to-day..
104,417
40,000
40,000
26S.000
50,000
572,659
71,679
15,000
5.750
7,500
800.030
93,711
155,000
348.000
03,000
573,893
77,782
10,000
34,000
.1,001,129 1,709,088 i 2,303,591 2,222.125
American and other
descriptions
follows:
American—
.
Continental stocks
American afloat to Europe....
United States stock
United States interior stocks..
United States exports to-day..
.
Liverpool stock
9'43
9-44
9-45
9-46
London stock
Continental stocks
India afloat for Europe
Egypt, Brazil, &c., afloat
142,000
144,000
511,462
104,000
204,000
208,000
572,659
104,417
40,000
74.079
15,000
379,000
161,000
221,000
329,000
800,030
93,711
10.000
173,000
153,000
348,000
573,893
77,782
34,000
.1,320,879 1,298,338 1,015,341 1,359,675
East Indian, Brazil, d-c.—
r t-
are aa
•A
Liverpool stock
.
Bales.
.
—
9-51®
A*k.
Friday.
eries.
delivery, the sales have reached during the week
323,100 bales (all middling or on the basis of
middling), and the
following is a statement of the Biles and prices:
Bales.
300
9-40®
Bid
Thnrs.
9-22®23 9-30®31 9-32®33 938®39 9-36®37
9-26®27 9-35®30 9-41® — 9*44®45 9-40®4I
9-37®38 9-47®48 9*53® — 957® 58 9*53®54
9-48®49 9‘59®00 9-04® 05 9-69®70 9-65®60
9*60® — 9-71®72 9-70® — 9-81 ®82 9-77®78
9-71 ®72 9-83®84 9*87®88 9-92®93 9-89®90
9-82®83 9-94® 95 9-98® — 10-03® 05 10-00® —
9-93® 95 1005® 00 10-08®09 10-14®16 1009® 11
10-02®04 1013®14 10-10®17 L023®25 10*17 ®19
9-25
9-35
9-35
9-40
9-40
Dull.
Weak.
Steady.
Steady. Steady.
Anier’n cotton afloat for Eur’pe)
For forward
For November.
Ea’es
Ct«.
400
9-20
400.....
9*21
100
9 22
ino
9-23
929®30
Axk.
.
SILKS OF SPOT AND TR ANSfT..
.
Th.
MARKET AND 8ALE8.
SPOT MARKET
Sat..
Mon
Tues.
Wed
Thurs
Fri.
8iiie
9 ‘ 16
Mon Toes Wed
7916
die
89ie
d«q«
10*10 10*8
11*16 1114
7*4
9*8
978
10*8
die
89,6
9*8
7*4
95s
9?rt
! 10*8
$ lb.
99j«
91*16 978
lOiie 10*8
7*i
9*8
Sat.
9*16
97iq
Frl.
9*8
! 11
9*8
Til.
9*8
—
Bid.
Firmer.
Wed.
8*16
8iii6
9*4
9*8
Frl.
0-24®
..
7*4
8*8
9*16
9716
9*8
Middling
•
8*8
9*8
STAINED.
Good Ordinary
Strict Good Ordinary
Low Middling
8‘16
8*16
8H16
9^e 1018
iSS 10*8
11*16 III4
10*8
101*>16
8is
9 <>8
97rt
9*8
97S
91*16
10*J6
7%
914
9*8
9*8
7ii^
7Hi6
Ante.
9-02® —
9-73® 74
April..
9*85® —
May
June
9-95®96
10-03® 04
July
Tr. orders
9*25
Closed—
Dull.
914
9*8
9*16
99,0
99,6
99,6
99io
9910
99.16
91*10 91*10 91*16 9i*i6
91*16
91*10 10=16 101lG 10116 10116
105j6 10*j6 10*26 109i6 10*16 10916 10916
10iS1B ld»i6 IOIojo 11*16 11*10 11*16 11*16
7*2
Easier.
Mon.
Toes Wed Toes Wed Taes Wed
Toes Wed
Ordinary
Lower.
Bid.
8=%
10516
10l5i«
Fair
Sat.
778
9»ig
Good Middling....
Strict Good Mid...
..
81*16
..
Low Middling
8trict Low Mid....
...
ALABAMA. N. ORLE’NS
Mon
1116
77s
Strict Ordinary...
Good Ordinary.
Strict Good Ord...
...
,
140.000
207,000
33,250
48,000
100,000
19,000
21,500
268,000
29,500
132,750
174,000
84,000
92,250
40,000
50,000
3?3,000
03,500
208,250
155,000
03,000
58,500
340,250
410,750
688,250
862,750
1,320,879 1,298,338 1,015,341 1,359,675
For January.
600
4.300
.....
8,000
5,000...,
3,800
3,100
4,200
.....
.
.
>34
9-35
9-36
9-37
9*38
9-39
9 40
Total visible supply
Price Mid. Upl., Liverpool
These
of
1,661,129 1,709,038 2,303.591 2,222,425
5*sd.
6*sd.
6716d.
67sd.
,
figures indicate a decrease in the cotton in sight to-night
47,959 bales as compared with the same date of 1877,
518
THE CHRONICLE.
decrease of 642,462 bales as compared with the
of 1876, and a decrease of 561,296 bales as
corresponding dat
compared with 1875.
At the Interior Ports the movement—that is the
receipts
and shipments for the week, and stocks
to-night, and for the
corresponding week of 1877—is set out in detail in the following
Little Rock,
ending Nov. 15, ’78.
Receipts Shipm’ts
Augusta, Ga
Columbus, Ga....
Macon, Ga
Montgomery, Ala
Selina, Ala
Memphis, Tenn..
Nashville, Tenn..
6,708
3,527
2,623
5,961
3,128
2,193
4,154
3,390
Week
raining as we write. The largest portion of the cotton crop from
this section has been marketed.
Nashville, Tennessee.—It has rained slightly on one day of the
past week, the rainfall reaching five hundredths of an inch, but
has been pleasant.
The thermometer
has averaged 51, the extreme
range having been 41 and 61.
Planters are holding on to their
crop.
Memphis, Tennessee.—Telegram not received.
the balance of the week
ending Nov. 16, ’77.
Stock.
Receipts
14,540
7,321
8,713
• 3,473
3,295
5,014
| Shipm’ts
7,295
3,411
2,725
Arkansas.—Friday, Monday and Thursday of the1
past week have been cloudy, but without rain. The thermometer
has averaged 52, the highest
being 64 and the lowest 35. It is.
statement:
Week
[VOL. XZVII.
Stock.
12,579
10,288
8,542
7,774
5,486
28,887
1,123
Mobile, Alabama.—It has been showery one day, but the bal¬
of the week lias been
pleasant. It is rainy to-day. The
5.562
cause of the
large receipts this week is the removal of quarantine
4.073
4,517
restrictions.
24,564
5,841
17,927
16,400
Average thermometer 60, highest 81, and lowest
878
2,066
2,193
48.
The rainfall for the 'week is
3,116
forty-seven hundredths of an
inch.
Picking
is
Total, old ports. 48,903
making
fine
progress.
25,545 104,417
44,683
43,026 74,679
Montgomery, Alabama.—We have had no rainfall during the
Dallas, Texas....
2,551
2,050
2,436
1,744
1,156
2,032 week.
Picking is progressing finely, and planters are sendings
895
317
Jefferson, Tex.
2,054
1,100
780
1,260 their crop to market
freely. Average thermometer 57, highest
Shreveport, La
2,561
1,203
6,708
3,966
4,300
4,026
Vicksburg, Miss *
3,000
2,500
3,533
4,771
4,074
3,860 77, and lowest 39.
Columbus, Miss..
342
1,191
4,021
1,094
Selma, Alabama.—There has been no rainfall during
1,125
2,038
the
Eufaula, Ala
1,147
1,012
2,084
1,180
1,311
2,969 week, and it lias become very
dry
and
Griffin, Ga
dusty.
1,436
1,178
707
2,040
498
1,454
Atlanta, Ga
Madison, FloHda.—Telegram not received.
3,350
3,656
5,799
5,602
4,833
13,261
Rome, Ga
2,254
3,208
2,344
1,919
2.561
Macon, Georgia.—We have had no rainfall during the week.
2,048
Charlotte, N. C...
1,400
572
1,254
2,460
2,408
1,877 The thermometer has averaged 58.
St. Louis, Mo
12,234
13,883
36,059
10,479
8,753
18,757
Columbus, Georgia.—It has not rained here during the week
Cincinnati, O..:..
9,590
9,279
2,516
4,140
3,138
4,142
just closed. The thermometer has averaged 62. About one-half
Total, new p’rts 41,609 39,882 70,166
39,110 34,989
57,724 the crop of this section has now been marketed.
Savannah,' Georgia.—There has been no rainfall here, the
Total, all
90,512
65,427 174,583
78,015 132,403
83,798
weather
having been pleasant the entire week.
Estimated. '
The ther¬
mometer has ranged from 44 to
75, averaging 59.
The above totals show that the old interior stocks have
Augusta, Georgia.—The earlier part of the past week was clear
increased during the week 23,338 bales, and are
to-night 29,738 and pleasant; but it has rained
bales more than at the same period last
slightly on two days the latter
The receipts at the portion, the rainfall
year.
same towns have been
reaching
fifty-four
hundredths of an inch.
4,215 bales more than the same week last Accounts are
good, and picking is progressing finely. Plantersyear.
are
sending their crop to market freely. Average thermometer
Receipts prom the
66, highest 73, and lowest 38.
Plantations.—Referring
to
our remarks
in a previous issue for an
explanation of this table, we now bring
Charleston, South Carolina.—There has been no rainfall during
the figures down one week later,
the past week.
closing to-night:
The thermometer has averaged 58, the highest
RECEIPTS PROM PLANTATIONS.
being 71 and the lowest 43.
5,004
4,351
7,254
10,741
8,541
50,23 L
5,789
ance
..
..
*
Week
Receipts at the Ports.
end’g-
1876.
Sept 6.
“
13.
“
20.
41
27.
!<?_
62,998
95,845
122,199
136,074
152,820
25.
174.617
Oct. 4.
44
44
19,731
41.457
11.
Nov.l.
201,904
4‘
8.
211,810
44
15.
205.606
1877.
5.835j
12,109
22,345
43,128
70,040
109,264
135,054
157,609
177,336
198,176
194,571
1878.
Stock at Inter’r Ports
1876.
1877.
Rec’pts from Plant’ne.
1878.
1876.
26.750
20,76u 16,449
9,979
47,431
23,481 16,272 18,9n
74,355 23,904 15,104 26,377
98,863 38,837 20,510 37,872
130,990 57,048 29,723 47,208
148,158 72,277 41,8913 59,823
160,233 84,871 58,745 79,597
162,236 103,774 80,374 97,i*87
157,280 123,652 105.814 115,034
182,874 138,111 126,620 149,498
176,004 157,36lJl32,403j 174.583
This statement shows
1877.
1878.
18.866
5,885
26,760
41.457
11.932
47,431
62,998
95,845
122,199
136,074
152,820
174,617
201,904
211,810
205,606
21,177
43,128
74,355
109,264
135,054
157,609
177,336
198,776
194,571
148,158
160,233
162.236
157,280
182,874
176,004
that the
receipts at the ports the past
week were 176,004 bales, received
entirely from plantations.
Last year the receipts from the plantations for the same week
were 194,571 bales, and for 1876
they were 205 606 bales.
,
us
Weather Reports by Telegraph.—There has
little rain in the South the past week, and
favorably.
stantly have before liim the
98,863
70,040 130,990
been very
Comparative Port Receipts and Daily Crop Movement.—
comparison of the port movement by weeks is not accurate,,
sis the weeks in different
years do not end on the same day of th*»
month.
We have consequently added to our other
standing,
tables a daily and monthly statement, that the
reader
A
seeing the exact relative
movement for the years named.
First we give the receipts at
each port each day of the week
ending to-night.
PORT RECEIPTS FROM
D’ys
New
of
Or¬
we’k leans.
Sat..
Mon
Tues
Wed
Galveston, Texas.—We have had showers
on
five
days of the
Mobile.
1
SATURDAY, NOV. 9, ’78, TO FRIDAY.
Char- Savan¬
leston. nah.
i
5,040
5,905
9,968
5,480
1,953; 3,687
6,462; 3,569
3,903j 4,705
2,784; 3,363
Thur
6,911
1,438, 3,049
Fri..
5,567
3,183!i
3,395
5,034
5,420
3,362
3,920
4,011
4,632
1
Nor¬
vest’n.;
folk.
4,793
5,929
3,686
1,769
4,924
1,619
Gal-
2,87l|
3,122
ming¬
ton.
All
others.
1,535
1,553
1,931
2,852
2,402
1,753
1,848
863
1,312
1,006
1,472 12.063
2.781J 1,844
1,894
3,441
Receipts.
1878.
15, ’78.
Total.
27,281
32,835
33,448
24,002
22,793
35,647
8,036 22,554 176,004
The movement each month since SeDt. 1 has been
Year
NOV.
Wil¬
Tot.. 38,871 19,723 21,768 26,379 21,390
17,283
picking has progressed
past week, hardly interrupting picking,
may con¬
data f*>r
as
follows:
Beginning September 1.
1877.
1876.
1875.
1874.
1873.
'i he thermometer has
averaged 66, the extreme range having been 52 and 74, and the Sept’mb’r
288,848
95,272
236,868
169,077
134,376
115,255
rainfall has been two inches and
eiglity-one hundredths.
A October..
689,264
583,687
675,260
610,316 536,968
355,325
killing frost was confined to northern 1 exas.
Indianola, Texas.—It lias rained on four days of the week, Tot. year. 978,112 678,959 912,128 779,393 671,344 470,578
welcome showers, the rainfall
reaching two inches and thirty- Perc’tage of tot. port
nine hundredths.
The thermometer has
15-62
receipts Oct. 31...
22*59
18*59
19*20
averaged 67, the high¬
12*37
est point touched having been 83, and the lowest 52.
This statement shows that up to Nav. 1 the
receipts at the
Corsicana, Texas.—'There lias been rain on two days during the
ports this year were 299,153 bales more than in 1877 and 63,984
week, good showers, and killing frosts on two nights. Average bales
more than at the same time in 1876.
By adding to the
thermometer 59, highest 83, and lowest 22.
We have had a above totals to Nov. 1 the
daily receipts since that tine, we shall
rainfall of two inches and forty-five hundredths.
be able to reach an exact
comparison of the movement for the
Dallas, Texas.—Rain has fallen on two days the past week, different
years.
with a rainfall of two inches and
twenty-five hundredths. We
have had delightful showers,
probably extending over a wide
1878.
1877.
1876.
1875.
1874.
1873.
surface, but hardly enough. W heat planting will now be active.
We have had killing frosts on two
T’J.Oct.31
978,112
678,959
912,128
779,393
671,344
470,578
nights. Average thermometer,
Nov. 1....
59, highest 83, and lowest 22.
27,243
31,773
8.
28,119
18,611
25,261
2..
Brenham, Texas.— We have had delightful showers on two
21,848
29,165
35,041
30,115
8.
26,023
3....
S.
days this week, and the indications are that they extended over
32,587
33,775
33,481
28,995
34,852
a wide surface; but we are
4....
S.
30,964
26,392
needing more, as the ground is very
22,674
22,715
17,474
5....
dry. The thermometer has averaged 66, with an extreme range
S.
27,896
44,314
29,528
26,478
25,216
of 52 and 78.
'1 he rainfall has reached two inches and
6....
23,380
31,771
44,599
18,624
20,894
17,921
twenty
hundredths.
-
44
-
44
44
44
44
New Orleans, Louisiana.—We have had rain
on one
day of the
past week, the rainfall reaching eighteen hundredths of
The thermometer has averaged 62.
an
inch.
Shreveport, Louisiana.—The pleasant, dry weather with which
have been favored during the entire season was succeeded
yesterday by sprinkles and heavy rain last night, the rainfall
reaching ninety hundredths of an inch. In certain localities
picking is nearly finished. The thermometer has averaged 59
during the week, the extreme range having been 39 to 80.
Vicksburg, Mississippi.—Telegram not received.
Columbus, Mississippi.—The weather has been clear and
pleas¬
ant all the week.
Cotton is coming to market
rapidly.
we
44
7....
34,808
35,213
44
8....
43,978
44
9....
27,281
44
10....
22,037
34,522
22,876
37,082
35,431
27,963
40,324
.
S.
29,245
34,892
39,947
S.
11....
32,833
8.
27,149
12....
53,835
26,945
28,463
32,005
S.
44
13....
14....
44
15....
35,647
Total
S.
25,987
20,851
33,221
S.'
44
44
28,531
28,641
28,714
20,604
28,411
27,018
17,955
44
33,448
24,002
22,793
S.
38,913
22,825
56,348
.
22,874
1,364,233 1,105,653 1,367,300 1,137,044
.
976,323
16,212
19,842
S.
30,421
21,278
17,564
18,059
25,345
18,411
758,434
Percentage of total
port receipts
25*44
33-86
2713
27*92
•
19*93
November 10, 1878. j
THE CHRONICLE
5191
This statement shows that the
receipts since Sept. 1 up to
Department
to-night are now 258,580 bales more than they were to the same covers Middle TennesseeNashville
east of the Tennessee
River, and the
day of the month in 1877, and 3,067 bales less than they Counties of Alabama
.‘—Lauderdale, Franklin. Colbert, Lawrence,following
were to the same
Morgan,
day of the month in 1876. We add to the last Limestone, Madison, Marshall, Jackson, DeKalb and
Cherokee. The report is
table the percentages of total port
receipts which had been
received Nov. 15 in each of the years named.
Southern Cotton Exchange Crop
made this week no attempt to
Reports.—We
prepared and issued bv the Nashville Cotton
Exchange, through their Committee on Statistics and
Information, Leonard Parks, Chairman.
have
analyze the Cotton Exchange crop
reports. On account of the prevalence of the yellow fever they
are not by any means as full as
usual, or based on as extensive
data, and
some
of them
are
still
wanting.
For these
reasons,
it
that it would not be fair to draw
any exact conclu¬
sions from them.
seems
to
us
Ellison & Co.’s Annual Cotton Circular.—We
give in our
editorial columns to-day Messrs. Ellison & Co.’s
Annual Circular,
received this week.
As usual, it is an
extremely valuable con.
tribution, not only, or perhaps chiefly, as a history of the
past
year, for its facts and suggestions must, in great
part, form the
basis of our future expectations.
It will bear close study.
Detailed Cotton Exchange Acreage Reports
for Novem¬
ber.
1.—We
give below, in full, the Cotton Exchange Acreage
Reports for November 1.
Norfolk Department.
The Norfolk Cotton
Exchange (H. S. Reynolds, Chairman, W. D. Rountree
and R. P. Barry, Committee on
Information and
issues the following
report, covering the State of Virginia and the Statistics)
following Counties in North
Carolina:
Rutherford, Lincoln, Catawba, Rowan, Davidson,
Iredell, Burke,
Caldwell, Alexander, Davie, Forsythe, Yadkin, Stokes,
Surrey,
Rockingham, Caswell, Person, Granville, Warren,
Hyde, Pitt, Green, Cartaret, Craven, Beaufort, TyrreJ,Franklin, Nash, Wake,
Bertie, Chowan, Pasquotank, Camden, Currituck, Gates, Washington, Martin,
Hertford, Northamp¬
Wilkes.
New Orleans Department
that part of the State of
Mississippi not apoortioned to the
and Mobile Cotton
Exchanges; the entire State of Louisiana and Memphis
the State
of Arkansas, south of the Arkansas River. The
report is prepared and
issued by the New Orleans Cotton
Exchange, through their Committee on
Information and Statistics,
composed of Wm. A.
Moore, Jesse S. Flower, John M. Witherspoon, J. M.Gwyn, Chairman, R. L.
covers
Frankenbush.
Louisiana.—13 reports from the following
parishes: Concordia
Catahoula, East Baton Rouge, Livingston, Rapides, St.
Martin,
St. Landry, St. Helena, St.
Joseph and West Feliciana, of an
average date of October 31.
The weather during the month is
reporteL by all correspondents, as
favorable for ga hering the
very
crop, and much better as
Frost appeared in every parish between the 10th and compared with last year.
24th,
bat
no
been reported.
damage bus
In the above parishes about three-fourths
of the crop has
been picked, and picking will be finished
between the 25th inst. and the 1st
prox. The yield is as good as last year.
from 22 counties.
Average date
of
same
stating that the weather has been decidedly better than
during
period last y«ar. Frost oc^ured in the more
northerly counties about
19th, and in the lower
from
tier between the 25th and
that source.
good.
Arkansas.—No report.
General Note.—In
giving the above report the committee
beg to call particular attention to tin meagreness of their
replies,
in consequence of the
unreliability of the mails,
31, doing,
owing to quar¬
antine.
It is possible the
averages might be materially changed,
if full reports from all counties and
parishes could be obtained.
Charleston Department
State of South Carolina, and is
prepared and
Cotton
issued by the
Exchange, through their Committee on Information
and
Statistics, composed of Robert D. Mure,
Chairman, L. J. Walker and A.
Bombay
Shipments.—According to our cable despatch
to-day, there have been 2,000
W.
Great
while
bales.
South Carolina*—54 replies from 28
counties.
With the exception of two
correspondents, all report the weather favorable;
as compared with last
year, twenty-nine report it more
favorable, twenty-three
about the same, two less favorable. There
has been frost in
every county.
There was a killing frost
generally on Oct. 31, but in several counties
there
killing frost
average decrease will be 21
30th; but no damage
According to our reports about fiveeighths of the crop has been picked and
picking will be finished about the 1st
of December, though in some
neighborhoods it may be a week later. The
yield as compared with last year is reported as not so
Six replies report about half the crop picked,
and the balance will damage.
be picked by December 10. Sixteen
replies report twothirds of the crop picked and the balance
will be picked by November 15 or
December 1. 8ix replies report the
yield
per acre about the same as last
year;
four about 5 per cent
greater, and twdve about 15 per cent less.
was
The yield is not so good
per cent, but the quality superior.
has been sustained
cotton--rat^r
Taft.
over, and
All concur in
The weather since October 1 has been
favorable to
than last year.
so
Light frosts appeared between October 19 and 30 andmore
several
times since. There was a killing frost
in two counties on October
the
Charleston
than last year.
to the 25th, but with little
The
will be finished about the 1st damage.
of December.
as that of last year. The
reported Jrom the 10th
picking is two-thirds
the
the
lina.
covers
year.
North Alabama.—22 replies from 11
counties.
The weather has been
generally favorable, more favorable
Frost was
Mississippi*—48 replies
North Carolina*—22 replies from 16 counties in
North Caro¬
however, but little
The weather has been
favorable, more so than last year. The earliest frost
the 10th. No damage was done to the
crop. Two-thirds of the crop
has been picked, and the
picking will be finished by the 1st of December.
The yield will average the same as last
was on
about October 31.
ton and Halifax.
-
Middle Tennessee.—15 replies from 10 counties.
shipped from
Britain the past week and 1,000 bales to the Bombay to
Continent ;
the receipts at Bombay
during this week have been 4,000
The movement since the 1st of
January is as follows.
figures are brought down to Thursday, Nov. 14.
These
Shipments this week
early as Oct. 19.
All
little or ne damage done
tnereby. Forty-three report from two-thirds report
to seven-eighths
gathered and
five all gathered. The
picking will be finished in most counties by the 20th
inst., but a few estimate as late as from the 1st to the 15th
as
Shipments since Jan. 1.
Great Conti¬
Great
Brit’n. nent. Total. Britain.
of December. The
yield, as compared With last year, is reported
by ten counties as increased from
five to thirty per cent, by eleven as
decreased from five to fifty per
cent, and
by seven about the same. An
based on said data gives the yie!d of
the State about equal to that of average
last year.
1878
1877
1876
received
bales
2,000
1,000
7,000
Receipts.
This
Week.
Total.
nent.
3,000 321,000 395,000
7,000 379,000 423,000
3,000 561,000 391,000
Since
Jan. 1.
716,000
4,000
882,000
902,000 7,000 1,048,000
952,000 13,000 1,055,000
(
3,000
Conti¬
Savannah Department*
1
This report covers the State
of
Georgia
and
the
State
of Florida, The report
is
prepared and issued by the 8avannah Cotton Exchange,
through their
Committee on Information and
Statistics,
composed of J. H. Johnston,
Clavins Phillips, J. J.
Wilder, L. G. YonngandK. M Oppenheimer.
Georgia*—75 replies from 45
The
counties.
weather has been clear
during the past month and great progress was
made In securing the
crop; it has been one of the most fav.
rable seasons for
gathering the cotton crop ever known—slight frosts
appeared for several
successive nights about tte 20th
ult., bat no damage was none •
of the most northern counties of
xcept in a few
the State.
P.cking wi 1 be flushed generally
about the 1st of December, unless
delayed
growth; there is, however, quite diversity of by a product from the second
opinions
be realized
what is to
therefrom; it is estimated that three-four-hsconcerning
of the crop has been
gathered, and an unusually large
percentage of it has been marketed. The
yield of the State will be larger than
last year, estimated five to
at present, and this estimate
eight per cent
most
when the crop
likely
is all gathered.
to be
increased, rather
than
lessened,
Florida*—20 replies from 8 counties.
The weather has been dry and most
favorable for gathering the
crop; altogether quite bn unusual season. There has
been no frost in this
fourths of the crop have been
State; threepicked,
and
by
the
first
of
December
be pretty much finished; the
picking will
production of this State will be
than last
season—probably seven per cent. In some sections there islarger
a fine top
crop
coming
od.
In the Sea Island section
picking
the season, met with several
has nearly finished. This
crop has, during
disasters, and. the yie.d will not
De as large as
last year’s by probably 10
per cent.
covers the
State of
Mountains, and
Mobile Department
Alabama as far north
ss^tho summit of the
the following counties in
Mississippi: Wayne,
Alabama*—69 replies from 39 counties.
The weather
is reported as
last year, more favorable for having been generally d y and, as compared with
gathering the crop. There has been frost from
the 15th to the
20th, but no damage has resulted therefrom.
Al>out To
the crop has been
picked, and the planters expect to finish from per cent of
the 1st of December.
the 15th to
Twenty-four counties report an average increase in
yield over last year of 11
per cent, and 15 counties an
average decrease of 17
per cent.
counties.
The weather is reported as
hav;ng been favorable and more so than last year
during the same period. Frosts
are reported from the
15th to the 20th, bat no
damage has been done. About 70
per cert of the crop has been gathered and
it will all be
picked by about the middle of December.
Six counties
average increase of 6 per
an
cent, as compared with last year, and seven report
an aver¬
age decrease of
30 per cent.
continues to
quoting 10f@10fc. for If and 2 lbs., and
10f@llc. for
standard quality.
Butts have been in better request than at our
last report, though the demand is not
large. The sales for the
past week are about 800@1,000 bales, at 2f@2fc., cash and time.
At the close the market is
steady, with holders
quoting above
figures, the higher figure being for a good
spinning quality.
There has been some
inquiry for lots to arrive, and the sales foot
up 2,000 bales at 2f@2 5-16c., bond, and 2,500 bales
bagging butts
at 2fc.,
gold.
The Exports of Cotton from New York
this week show
a
decrease, as compared with last week, the total
bales, against 11,760 bales last week. Below we reaching 6,992
give our usual
table showing the exports of cotton from
New York, and their
direction, for each of the last four weeks; also the total
exports
and direction since Sept. 1,
1378, and in the last column the total
for the
period of the previous year:
Bxports of Cotton!bales) front Ifew York
same
since Sent*
1* 1878
tnx 1NDDTO
Same
Total
Sand
Cotton Exchange, through their
by the Mobile
Committee on Information and Statis¬
tics, composed of T. K. Irwin,
chairman, Julius Buttner, A. M. Wilimarth, J.
C. Bush and S. Haas.
from 13
&c.—Bagging still
■XFOBTSD TO
Clarke, Jasper,
Lauderdale, Newton, Kemper, Nesholso,
Noxubee, Winston, Lowndes,
Oktibiba, Colfax, Monroe. Chicasaw,
Itawamba, Lee, Pontotoc* Prentiss,
Alcorn and Tishamingo. The
report is prepared and issued
Mississippi.—23 replies
Gunny Bags, Bagging,
drag
and the sales are
only of small parcels for jobbing orders. There
is no inquiry for round
lots, and the feeling is rather easy, and
holders are
Liverpool
Other British Ports
Total to Gt* Britain
Havre
Other French ports
Oct.
23.
Oct.
30.
Nov.
17,507
11,139
1,600
9,035
17,507
..
Bremen and Hanover
Total to N.
5,097
92,729
750
2,850
12,739
9.035
5,847
95,579
65,575
2,014
1,536
ICO
4,412
1,331
2,044
1,536
ICO
4,412
1,189
1.015
4,665
950
•
*423
Europe.
1,373
8pein,Gporto A Gibraltar Ac
All others
Total
date.
•
Other ports
Spain, Sec.
Grand Total
prev’ns
Nov.13.
6.
year.
63,930
1,585
115
Total French....
Hamburg
to
period
•
•
•
••
•
18,580
.
•
•
1,189'
•
•
•
1,045
1,436
1,975
1,274
*423
6,803
5,088
10,063
•
..
14,783
....
11,760
•
•
•
•
6.992
....
105,(79
....
77.C64
;
THE CHRONICLE
520
[vox, xxvn.
*>
The
the receipts of cotton at New York, Boston,
Philadelnhiaand Baltimore for the past week, and since Sept. 1/78:
following
are
BOSTON.
HEW TORS.
Spot.
PHILADELP’IA
BALTDCORB.
This
week.
This
Mid. Upl’ds
Mid. Orl’ns.
SBCIB’TS FROM
This
i This
Since
Since
Sept. 1. week. Septl.
week.
Since
Since
•
The following
week:
table will show the daily closing prices of cotton for the
Saturd’y. Monday. Tuesday. Wedn’sdy Tliursd’y Friday.
.'3)55s
...®6i]
...®558
..'S'OlTf,
..
.®55g
...®558
...®61ib
..
.
...'@553'
...-2)508
.
..®6
...®6
Septl. week. Sept.l
Futures.
New Orleans..
Texas
Savannah
Mobile..
Florida
8’th Carolina
N’th Carolina.
461
11,811
5,219
4,709
67,475
♦
4
105
62,531
•
978
•
•
•
•
•
•
•
•
•
•
•
....
•
....
532
3,304
40,661
11,919
56,231
1,853
4,271
27,578
29
677
Total this year
28,649
284,043
Total last
39.511
205,342 1 11,769 51,930
3,516
1,468
7,466
Virginia
North’rn Ports
Tennessee, &c
Foreign..
...
year.
•«
.
1.981
j
•
•
9,901
.
....
....
*
•
....
....
•
•
•
•
•
•
•
....
•
•
•
.
1,333
9.2S3
472
2,692
18,132
*
2,653 .18,919
9,031
.
•
.
•
•
•
.
•
•
...
•
....
...
7,325
50,933
6.439
31.360
.News.—Tne exports of cotton irom me United
States the past week, as per latest mail returns, have reached
87,473 bales.
So far as the Southern ports are concerned, these
shipping
exports reported by telegraph, and published in
the same
are
on
the basis of Uplands, Low Middling clause, unless
Saturday.
.
4,407
.
9,ois
490
These sales are
otherwise stated.
The Chronicle, last Friday. With regard to New York, we
include the manifests of all vessels cleared up to Wednesday
Total ba’es.
night. of this week.
New York—To Liverpoo’, per s^eame-s Egypt, 1,713
City of Rich¬
Nevada, 1,354
mond, 507
Adriatic, 549.. .Algeria, 914
5,097
To Hull, per steamer Rialto, 750
750
To Havre, per steamer Perirre, 100.
100
To Bremen, per steamer Main, 1,045
1,045
d.
Delivery.
Delivery.
d. I
d.
Feb.-Mar
5H32 I Jan.-Feb
5716
*....5&ie.
53s
5H32 Mar.-Apr
| Feb.-Mar
5&ig
511.32 Apr.-May ....51332®33 I Mar.-Apr
5%
......5H30 Dec.-Jan
5516 |
Delivery,
....
—
65,311
.
.
....
1,951
7
....
•
•
1,113 20,826
....
»
13,755:
9,! 83
.
-
13,309
26,9°6
5,355
2,142
,
b92
11,334
.
,
«*
•
Nov
Nov.-Dee
Dec.-Jau
Jan.-Feb
Monday.
Delivery.
Nov
Nov.-Dee
Dec.-Jan
Jan.-Feb
\
Delivery.
513.32 Feb.-March
5»i6 I Mar.-April
5516 | April-May....
5516 | Nov
I
Delivery.
5516 ! Dec.-Jan
5H32 I Nov
53q
53s
5*33
5^32
5*32
Jan.-Feb
| May-June
51333
Tuesday.
Delivery.
Delivery.
Nov
Nov.-Dec
Dec.-Jan
Feb.-Mar
Mar.-Apr
Nov
--5516
Delivery.
5516
511.32®^
5?16
Jan.-Feb
Feb.-Mar
-55j6
April-May
•5i332
-51*32
Wednesday.
—
Orleans—To Liverpool, per gtearners Bornssi9, 3,790. ...Van-
New
gnard, 2,656....
To Bremen, per steamer Frankfort, 1,300
To Reval, per steamer Rayner. 3.750
To Genoa, per bark Elliott Ritchie, 2,139
To Vera Cruz, per steamer City of Mexico, 1,047
Mobile—To Liverpool, per bartc Leamington, 3,454
..
Charleston—To Liverpool, per steamer Pedro, 2.51(9 Upland and 70 Sea
Island.... per bark Glen Grant, 2,696 Upland and 57 Sea Island
To Cork, for orders, per bark Erling, 1,150 Upland
Savannah—To Liverpool, per steamers Imbro?, 4,628 Upland..
.
6.446
Jan.-Feb...
1,047
3,454
5,422
1,150
April-May... 5716@ 1532
Mar.-April
57j6
538
53s
Nov.-Dee
5i332
Nov
5Lj
Dec.-Jan
51332
-5ia
Apr.-May
Shipment.
Dec.-Jan., n.cp.,8l,57ig
Delivery.
Apr.-May
5710
Apr.-May
Nov.-Dee
Jan.-Feb
53s
53s
Dec.-Jan
Total
19,165
8,290
2,950
2,800
2,070
3.350
Nov
5716
Jan.-Feb
.51132
Feb.-Mar
.538
Mar.-Apr
.5133o
of these shipments, arranged in
Liver- Hu 1&
New York...
New Orleans..
Mobile
Charleston...
Savannah
Bre-
Re-
...
11,555
4,503
522
3,454
6,992
11,682
1,150
19,165
3.350
Texas
.
Norfolk
Baltimore
Boston
3,2C0
2,950
2,050
....
2,070
6,572
30.185
....
4,056
....
780
4,952
i
11,555
11,555
Total
2,600
....
7C6
2,122
Wilmington
3 451
..
5,422
...
4,f03
4,503
522
522
61,636
Below
Total.
....
..
2,606
5,350
5,295
760
6,5 0
4,209
87,473
1,047
give all news received to date ot disasters to vessels
carrying cotton from United States port:*, etc.:
we
British Empire, steamer (Br.), from Philadelphia, in entering the
Hnckisson
dock, Liverpool, Oct. 31st, struck the pier head and sustained damage
amidships on starboard side above water.
Citt of Savannah, steamer, from Savannah, which grounded on Jersey Flats,
Nov. 5th, discharged a part of her cargo and was floated off night of Nov.
6th and proceeded to her wharf.
Donati, steamer (Br.), Gregory, at Liverpool, Oct. 28th, from Baltimore, repo ts that on Oct. 12th the wind blew with hurricane force, and the
steamer had wheel washed away and sustained other trifling damage.
Isaac Bell, steamer, from Richmond Nov. 4th for New York, was ashore 5th
near vV^iIlls' Wharf. James River.
She was got off AM of the 7th and
•
proceeded for destination.
freights the past week have been
Cotton
Liverpool.
,
8team.
d.
,
as follows:
-—Havre.—, ,—Bremen.—, ,—Hamburg—
Steam.
Sail.
Sail.
Monday.. 6-3
c.
c.
d.
—HX 11-16 cp. —(&%
—&X 11-16 cp. — mA
Tuesday.. 6-32 2,5-16
—n-x u-16 cp.
Wed’day..6-3 ($5-16
—@,X 11-16 cp. —mx
.
Saturday. 6-32(^5 16
Thursday.6-32 ^3-16
Friday.... 6-32^5-16
—U-16 cp.
—mi 11-16 cp.
Steam.
m/% *■
-(&%
—
Sail.
c.
Steam.
X comp.
% comp.
X comp.
X
A
14
X comp.
% comp,
A
y,
X comp.
A
Sail,
c.
c.
c
H comp.
comp.
X comp.
X corap.
% comp.
% comp.
—
—
—
—
—
—
Liverpool, Nov. 15—4:00 P. M.— By Cable from Liver¬
pool.—Estimated sales of the day were 10,000 bales, of which
2,000 bales were for export and speculation.
Of to-day’s sales
6,400 bales were American. The weekly movement is given as
follows:
Oct. 25.
Bales of the week
Forwarded
bales.
Sales American
Of which exporters took
Of which speculators took..
Total stock
Of which American
Total import of the week
Of which American
Actual export
....
Amount afloat
Of which American
Nov. 1.
41,000
44,000
1,000
2,000
29,000
6,000
30,000
8,000
1,000
500
306,000
148,000
47,000
37,000
6,000
214,000
147,000
302,000
Nov. 8.
63,000
3,000
42,000
151,000
40,000
34,000
7,000
247,000
181,000
1
Delivery.
Nov
Nov.-Dee
Dec.-Jan
Feb.-Mar
Mar.-Apr
53s
..5*2
5*16
.513,2
Delivery.
Apr.-May
.’...5 *2
May-June
5i732
Jan.-Feb
51332
Feb.-Mar
5716j
.51530
Dec.-Jan
Shipments.
Nov.-Dec.,
sail
Dec.-Jan.,
sail
n. crop,
57lft
n. crop,.
571&
53s
BREADSTUPFS.
2.050
780
Vera
..
May-June
5153*
..
Friday.
2,122
our usual form,
pool. Cork. Havre, men. Ghent, val. Genoa. Cruz.
5,097
750
100 1,045
6,446
1.300
3,750 2,139 1,017
Delivery.
706
87,473
The particulars
are as follows:
■§Ii®
Mar.-Apr
Thursday.
Delivery.
.
Gresham, 4,C32....Royal Standard. 3,194 Upland....Juan, 3,602
Upland
per ship Pleiades. 3,709 Up’and
To Havre, per ship Lady Dufferin, 3,200 Upland
To Bremen, per ship Alexandra, 2,950 Upland
To Reval, per 6teamer Pretoria 2,810 Upland
To Genoa, per bark Engelbrekt 2,070 Upland
Texas—To Liverpool, per steamer Alice, S,350
To Cork, for orders, per brig Cavallerie Scardelli, 706
Wilmington—To Liverpool, per bark Falke, 1.115
per brigJarien,
1,0 7
To Havre, per hark Thcs. C. Leed. 1,100
per brig Hera, 950
To Ghent, per bark Louise Dore, 780
Norfolk—To Liverpool, per steamer Zanzibar, 5,975
per ship Cnltivator. 5,580
Baltimore—To Liverpool, ppr steamers American, 1,104
Federico,
1,497
Emiliano, 970
Nova Scotian, 932
Boston—To Liverpool, per steamer Coum elior, 522
Feb.-Mar.^....
51^32
Feb.-Mar...
1,300
3,750
2,139
Delivery.
Delivery.
Delivery.
Nov
Nov.-Dee...
Dec.-Jan...
Nov. 15.
60,000
4,000
41,000
6,000
8,000
5,000
287,000
144,000
44,000
35,000
5,000
282,000
142,000
58,000
286,000
306,000
218,000
235,000
2,000
42,000
8,000
Friday. P. M., Nov. 15, 1878.
The market for flour has been somewhat
sluggish the past '
irregularity, but, in the
main, tended downward, especially for low extras, such as are
usually taken for the British markets. The production of all
grades appears to have materially increased, and under the
pressure to sell, in the face of a demand checked by unfavorable
foreign advices, prices naturally gave way, and a line of common
extras from spring wheat sold at $3 80(3)3 85 per bbl.
To-day,,
the market was dull and depressed, with lines of common extras
not salable at over $3 75.
The wheat market was stronger early in the week, on the more
favorable foreign advices, and with a good demand prices
improved fully one cent a bushel, the sales including No. 2 Mil¬
waukee 98c., No. 2 red winter $1 074@$1 07£, No. 1 red amber
$1 08, No. 2 amber $1 05£@$1 06, and No. 1 white $1 09(5)$ 1 09£,
part for early arrival, with sales of No. 2 red winter for Jan. at
$1 08^, and No. 2 amber for Dec. at $1 06£. But unfavorable
foreign advices and a pretty free movement from the West,
checked the demand and impaired speculative confidence, causing
part of the advance to be lost. To-day, the market was dull and
drooping, with No. 2 red selling at $1 06Ra)$l 06£ on the spot
and $1 07£@$1 07£ for January.
Indian corn was dull; but at a decline to 43f@46fc. for No. 2
mixed, the demand became more active, and there was a partial
The arrivals of new mixed (which is mostly
recovery of values.
No.
and
graded
3
sold at 44c. per bush.) have somewhat increased,
and shippers have taken a portion of the offerings.
White com
has brought extreme prices, and yellow is scarce and nearly nom¬
inal.
To-day, the market was dull and weak.
Rye, at some decline, became more active, the sales yesterday
embracing a boat load of No. 2 Western at 59£c., another of No.
1 State at 6Hc., and two others of Canada, to arrive, at 63|c.
To day, prices were lower and unsettled.
Barley declined, and
became fairly active, the sales yesterday embracing a boat load
of two-rowed State at 75c., one of six-rowed State at 90c., and
another of ungraded Canada, about equal to No. 2, at $1. Canada
peas have sold to some extent at 70c. on board. Oats were active,
and prices advanced, but the improvement was most decided for
white, choice qualities of which brought 39@40c.; new No. 2
Chicago mixed, in boat loads, at 31£c.; also, good ungraded white
Western at 32c. To-day, the market was quieter, with No. 2
week.
Prices showed
more
or
less
graded quoted at 31^0. for mixed, and 33c. for white.
The
following are the closing quotations:
THE CHRONICLE
1878.]
November 1G,
Flour.
Grain.
$ bbl. $2 30® 2 90
Superfine State & West¬
No. 2
Wheat-No.3spring,bueh. $0 85®
3
4
do XX and XXX
do winter shipping ex¬
70® 4 00
15® 5 50
..
3 85® 4 15
4 30® 5 50
tras
XX and XXX..
Minnesota patents
do
Southern bakers1 and fa¬
59®
Oats—Mixed
mily brands
4
4
3
2
50®
00®
10®
40®
2 85®
Southern shipp’g extras.
Rye flour, superfine
Corn meal—Western,&c.
Corn meal—Br wine. &c.
5
4
3
2
White
75
35 ' Barley—Canada West....
I
State, 4-rowed
55 I
State, 2 rowed
45
|
Peas—Canada, bond&free
Receipts at lake and river port9 for the week ending Nov. 9,
1878, and from Dec. 31 to Nov. 9 ,and from Aug. 1 toNov. 9.
Flonr,
bbls.
(190 lbs.)
54,322
53,666
Chicago
Milwaukee
Toledo
Detroit
Cleveland
St. Louis
225
Wheat,
Corn,
bush.
bush.
(60 lbs.) (56 lbs.)
833,749 1,045,511
452,370
21,140
342,718
130,158
180,582
5,360
15,600
21,350
400,856
137,245
17,200
82,250
Kansas City
Baltimore
Rail shipments, week....
Lake shipments, week...
On canal
Oats,
Barley,
bush.
bosh.
Total
Nov.
2, 1879
OcL 26, 1878
Oct. 19, 1378.
62
29® 32>£
31®
37
95® 1 2J
85,®
95
70®
80
85
7U®
43,186
22,797
Indianapolis.
56® 58^
State and Canada
bush.
Peoria.
.
Rye—Western...
5 50® 8 25
3 75® 4 85
City shipping extras
Corn,
bush.
...
3 75® 3 90
.extras
Wheat,
87
No. 2 spring
93®
95
No. 1 spring.
®
Red and Amber Winter 1 03® 1 07
Red Winter No. 2
1 0ti)tf@l 06^
White
1 03® 1 10
Corn—West’n mixed
47
44®
do
steamer grade.
46&® . ..
do
white
50®
53
do
yellow
47®
48
3 10® 3 60
ern
Extra State, &c
Western Soring Wheat
AT—
521
89,01-3
1,749,082
..
17,215,760
16,292,755
Oct.
Oct.
12,1878
5, 1878
Sept. 28, 1878
Sept. 21, 1878
Nov. 10, 1877
:
9,698,182
9,804,922
16.882.581 10,208,903
.16,503,859 10,218,895
14,701,428
9,803,943
13,099,673 11,095,074
...12,478,859 11,134,092
12,589,391 11,293,242
9,815,765
8.260,919
Oats,
Barley,
bush.
bueh.
bush..
6,964
93,305
19,532
63,720
80,855
11,758
167,615
145,504
1,091,951
1,543,000
.
....
Bye,
4,012
5,911
14L576
64,334
331,069
189.456
263,100
494,000
113,827
139,349
205,000
3,158,440
3,475,740
3,552,441
3,729,690
3,713,632
3,942,782
4,248,525
4,115,278
3,693,933
5,030,518
5.033,907
5,212,725
4,767,541
4,142,867
1,434,301
1,406,548
1,648,975
1,249,570
1,260,292
3,776,721
1,244,086
3.088,073
1.8S1.953
3,213,354
1,552,949
1,078,074
653,433
Rye,
bueh.
THE DRY GOODS TRADE.
(32 lbs.) (48 lbs.) (56 lbs.
296,231
155,739
46,478
13,600
80,326
17,700
16,335
9,521
18,878
13,851
42
Friday, P. M., Nov. 15, 1878.
.
Operations in the dry goods market have been of a light and
4,364
24,960
6,100
unimportant character during the past week. Business has ruled
82.919
102,630
90,933
13,731
Peoria...
1,905
44,500
14,500
13,475 quiet with the package houses (though there was a steady
Duluth.
“
demand for small lots of seasonable goods, and the
jobbing"
trade was somewhat less active than
Total.
155,703 2,243,075 1,446,014
517,131
There was
100.940
expected.
361,449
Previous week
146,057 2,334,639 1,473,258
597,232 397,148
90,972 rather more inquiry for spring woolens
by the clothing trade,
Corresp’ng week,’77. 156,440 2,120,982 1,068,614
474,244
47,105
488,749
Corresp’ng week,’76. 144,856 1,574,390
812,960
324,668 356,076
76,556 and some fair orders were placed for cottonades by the same
TotDec.31 toNov. 9.4,779,704 75,370,182 85,039,5*5 27,762,897 8,607,149 4,448,447 class of
buyers, and for shirtings, ducks, &c., by shirt manu¬
Same time 1877
4,142,967 44,577,395 71,317,180 21.369,793 7,376,439 4,625,601
Same time 1876
4,763,618 49,005,918 73,102.753 22,719,637 7,466,740 2,289,646 facturers; but there was no disposition on the part of jobbers to
Same time 1875
4,257,211 60,761,533 43,847,820 23,413,992 5,095,906 2,614,922
anticipate future wants. Reporcs from such Southern and South¬
Tot. Aug. 1 to Nov. 9 1,783,045 41,363,193 32,535,413 14,101,796 5,676,298
389,138
Same time 1877
1,909,025 34,285,777 28,441,593 10,544,325 4,522,653 1.672,494 western cities as were lately afflicted with the yellow fever are
Same time 1876
1,767,>45 22,561,780 30,098,405 8,882,929 4,497,501 1,2x2,450
now quite encouraging, and jobbers
Same time 1375
in New Orleans, Memphis,
1,*24,272 30,352,795 16,101,301 12,752.623 3,540,651 1,050,610
&c., seem to be doing a very satisfactory business.
Shipments of flour and grain froir^rVzhlake and river
Domestic Cotton Goods.—The exports of domestics from
ports from Dec. 31 to Nov. 9.
this port during the week ending November 12 were 1,138
pack¬
Flour,
Corn,
Wheat,
Barley,
Oats,
Rye.
bbls.
bush.
bueh.
bush.
bush.
ages, including 363 to Brazil, 295 to Great Britain, 138 to U. S*
tush.
Tot.Dfcc.3l to Nov. 9.5,039,824 56,910,577 74,787,705 19,711,161 4,483,609 3,540,916
of Colombia, 66 to Hamburg, 64 to Hayti, 46 to British
8ame time 1877
Guiana,
4,346,587 35,037,691 63,138,072 16,591,44* 4,593,120 2,226,460
Same time 1876
4,132,789 44,015,876 70,003,158 18,650,186 3,139,380.1,850.803 41 to Dutch West Indies, 40 to Cuba, &c.
The market continued
Same time 1375
4,648,651 52,723,m 39,711,121 17,675,9b7 2,145,22)
847,696
quiet, and while prices were nominally unchanged, agents mani¬
Rail shipments of flour and grain from Western lake and river
fested a disposition to sell and slight concessions were in some
ports. "
cases offered,
in order to effect large sales. Brown sheetings
Week
Flour, Wheat,
Corn,
Oats,
Barley,
Rye,
bbls.
bush.
bush
bush.
ending —
were in light request, but fairly
bush.
bash.
steady at the lately revised quo
Nov. 9, lb78
322,795
12:. 082
141,576
145,504
25,52* tations.
Drills
were
less
Nov. 10, 1877
firmly held, but some makes are still
88,613
149,288
135,502
76,860
20,129
Nov. 11, 1876
129,501
368,636
651,624
204,736
129,950
45,048 sold to arrive—for export.
Bleached shirtings were taken a
Nov. 13, 1875
384,138
282,699
408,656 119,939
67,179
little more freely by the shirt trade, but the demand by jobbers
Receipts of flour and grain at seaboard ports for the week end¬ was
Ducks were in fair request by shirt manufac- *
very light.
ing Nov. 9, 1878, and from Dec. 31 to Nov. 9.
turerp, and orders for cottonades were received to a moderate
Flour,
Wheat,
Corn,
Oats,
Barley,
Rye,
At—
bbls.
bush.
bush.
bush.
bush.
bush.
amount; but denims, ticks and other makes of colored cottons
New York.
107,825 1,049,900
645,932
142,636 226,600
134,810 ruled
quiet. Print cloths were much less active, but prices
Boston
49,549
121,236
132,550
400
93,145
19,500
Portland
2,200
8,5^0
1,500
remained steady at 3£c., cash, to 3 5-16c., 30 days, for 64x64s, and
Montreal
165
21,480
239,118
60,015
1,443
Philadelphia
Prints were in light demand, aside from
25,730
429,200
220,360
31,310
3,500 5c.; cash, for 56x60s.
30,500]
Baltimore
26,303
18,000
627,800
107,000
1,000
Turkey-reds and patch-work styles, which were in fair request
New Orleans.—*..tv;
OT
44,983*1,429
97,40025,007
Domestic Woolen Goods.—-There was an irregular demand
Total
250,985 2,512,237 1,241,705
for
331,176 278,048
161,517
men’s-wear'woolens, and transactions were only moderate in
Previous week
271,382 3,661,081 1,612,355
4*2.386
437,444
12^,120
the
Corresp’ng week,’77. 278,750 2,217,540 1.453,784
aggregate.
Spring cassimeres and shirtings, cheviots,
330,323
803,519
71,612
Tot.Dec.31 toNov.9.8,136,649 93,779,355 94,593,062 21,319,899 4,735,819 4,401,736 worsted coatings and blue flannels were
severally in improved
Same time 1877
6,S24,863 37,205,436 75,487,336 18,138,676 5,724,488 2,239,600
Same time 1876
3,428,274 87,075,425 77,718,681 21,712,744 5,417.597 1,144,650 request and fair orders were placed for future delivery.
Heavy
Same time 1875
9,416,879 55,562,995 47,157,294 18,151,643 2,449,175 866,632 woolens moved
slowly, and there was less spirit in the demand
Exports from United States seaboard ports and from Montreal for cloakings than was noticed a short time ago. Overcoatings and
for week ending November 9, 1878,
beavers were taken in small lots to a limited amount, but
repelFlour, Wheat,
Peas.
Corn,
Oats,
Rye,
lants remained quiet, and cloths and doeskins were in very
From—
bbls.
bush.
bush.
bueh.
bush.
busb
light
New York
72,670 1,161,222
200,491
63,146
87,873
6,041
demand. Kentucky jeans have received a little more attention,
Boston
14,189
30
111,071
7,000
25,523
Portland
but purchases were mostly confined to small parcels of popular
Montreal
8.302
....
—
—
....
...
s
•
-
•
—
-
—
....
.
...
•
Philadelphia
Baltimore
Tofal for week..
Previous week
Two weeks ago
Same time in 1877...
23,601
223,064
175,149
5,5*8
9,332
109,415
768,192
106,377
6.685
950
17,14-5
-
13,135
•
•
•
•
114.486
....
....
133,483
2,372,964
620,674
101,875
70,140
121,430
703.881
1,867,079
49,070
17.778
16,053
1.461,873
635,429
58,585
70,076
38,281
79,283 1,484,569 1,370,023
48,922
35,195
107,003
From Boston 4,251 bnsh. barley; from Montreal, 8 bush,
barley; from New
Orleans, 2,148 bbls. flour, 10,041 bu?h. wheat, 46,573 bueh. cam, and 24,963
108,106
34,376
.
makes.
Printed satinets
were a
trifle
more
active but blacks and
mixtures ruled
quiet. Flannels were in very fair request for the
but blankets continued slow of sale.
Worsted
dress goods, shawls and skirts were severally sluggish in agents’
hands, but prices were fairly maintained and stocks are well in
time
hand
of year,
as a
rule.
Foreign Dry Goods.—Business
light with importers, a»
usually
the
case at this advanced period of the season, and the
The visible supply of grain, comprising the stocks in
granary
jobbing trade was only moderate. Black’cassimeres were in steady
at the principal points of accumulation at lake and seaboard
ports,
and in transit by lake, canal and rail, Nov. 9, 1878, was as request at unchanged^ prices, and there was a fair inquiry for
follows:
merinos and other staple dres3 fabrics; but fancy dress goods were
Wheat,
Corn,
Oats,
Barley,
Rye,
in
relatively light demand, and prices were lower in many cases.
In Store at—
bush.
-busb.
bush.
bush.
bush.
New York
Low-grade
black and colored silks were in fair request, but fine
3,179,584 1,306,060
f8),910
547,2ci0
Albany
45,000
478,500
56,506
Buffalo
qualities dragged heavily. Trimming velvets met -with con¬
593,6*0
467,570
46,025
326,424
32,033
Chicago
742,294
307,484 1,299.362
101,637 siderable sale, but millinery silks were quiet.
Linen goods,,
Milwaukee.
1,0»7,>80
15,093
33,387
667,972
23,850
Duluth
handkerchiefs and embroideries continued slow of sale, but fairly
Toledo
83.201
2T0,285
85,160
6,343 steady in priee.
Men’s-wear woolens remained sluggish in first,
Detroit
23.618
12,203
996
Oswego
32 055
220,000
89,083
12,117 hands, but moderate sales were effected by the cloth houses. Thfr
St. Lonis.
140,907
163,913
201,157
64,794
Boston
auction rooms were fairly attended, but most of the public offer¬
929
287,974
132,866
16,680
Toronto
100
13,340
391
274,834
ings of foreign goods were meagre and unimportant, and prices
Montreal, 2d
122,106
76,405
962
9,473
64,442
hush. rye.
was
is
....
f
•
•
•
•
Philadelphia....,....
—
690,872
228,720.
-•**
-
*
-w-
•
a-'
~
—*-*
-
-
10,402
ruled low
—
-
—
—
i
522
THE CHRONICLE.
lmportatioui of Dry Goods.
,
Receipts of Leading Articles
The importations of dry goods at this port for the week
ending
Nov. 14, 1878, and for the
corresponding weeks of 1877 and 1876,
have been
follows
as
1876.
Fkgs.
Manufactures of wool..
do
do
do
$130,380
131,579
1,981
$656,436
2,273
Miscell’neous dry goods
WAREHOUSE
AND
THE
$116,365
106,636
93,426
292
459
3b6
494
287
$629,310
1,898
$667,823
164,287
THROWN
Value.
Pkgs.
387
604
366
479
437
flax...
FROM
Value.
$189,990
110,941
171,848
89,975
93,682
..
WITHDRAWN
Pkgs.
1878
4H
486
274
418
822
cotton
silk
Total
following table, based upon daily reports made to the
Exchange, shows the receipts pf leading
articles of domestic produce in New York for the week
ending
with Tuesday last
(corresponding with the week for exports), for
the period from January
1, 1878 to that day, and for tlie corres¬
ponding period in 1877.
New York Produce
14, 1678.
1877.
Value.
INTO
THE
SAME PERIOD.
129,089
242,(20
112,671
67,475
MARKET DURING
of Domestic Produce.
The
:
ENTERED FOR CONSUMPTION FOR THE WEEK
ENDING NOV.
fVoii. xxvu.
Week ending Since Jan. 1.
Nov. 12.
1878.
Breadstuff's—
Flour, wheat
bbls
81
3,575
2,803
64,970
6,056
68,715
119,311
3,805,749
169,730
2,832,184
55,360,584
18,724,144
3,6i2
Manufactures of wool..
do
cotton
do
do
silk..
flax...
249
112
76
197
432
$97,360
46,282
1,096
Miscell’neous dry goods
261
112
87
243
209
$96,515
38,628
81,555
48,592
252
71
48
175
$89,039
14,497
1,387
43,569
915
2,273
$279,787
629,310
1,933
1,838
234,819
3,188
$909,097
3,831
58,634
40,819
16,499
Total...
Add ent’d for cons’mp’n
1,931
$260,594
656,436
Tot. thr’wn upon mark’t
3,077
$917,630
20, 05
39,136
40,271
667,823
$902,642
ENTERED FOR WAREHOUSING DURING
SAME PERIOD.
Manufactures of wool..
856
do
cotton
187
do
do
silk
flax
Miscell’neous dry good.-
117
468
69
Total
Add ent’d for cons’mp’n
1,197
1,981
..
..
Tot’l entered at the port
$145,025
$85,420
221
31,978
75,'52
66.119
161
100
610
13,416
3,124
48,489
48
59,411
$429,859
656,436
3,178
$1,086,295
imports of
110,886
3,888
2,273
$342,992
629,310
6,159
$972,202
92,137
60,557
1,140
1,898
$337,005
8,038
$1,004 823
[The quantity is given in packages when
not
Since
Same
Jan. 1,’7S time 1877
China, Glass
Buttons.
Coal, tons
Oocoa bags
Blea. powders..
•
Gambler
Ginn, Arabic....
Indigo
Ganny cloth
Hair
Bristles
Hides, dressed..
India rubber.....
Jewelry
Watches
Linseed
Molasses
4 572
35,512
25,361
21,748
2,894
3,530
15.272
55,212
4,630
4,211
8teel
Tin, boxes
Tin slabs,lbs...
,
bbls.
883
17,952
55.540
67,630
2,755
5,998
1,049
5,231
49,164
402
Champagne,bktf.
Wines
Tool, bales
\rticUe reported by
2,690
127,713
726
i
2,222
2,417
497
439
213.96S
75,657
848,523
85,622
38,108
54.734
54.270
977,043
473,640
799,230
431,784
1,037,272
9.379,297 10,559,626
245,625
278,841
142,301
Ginger
Pepper
51,867
324,174
196,417
Cork
Fustic
Logwood..
110,451
432,875
401,863
340.784
41,359
368,564
543,068
59,533
523,505
28.583
43,666
Liverpool
j
London
Glasgow
Bristol
Hull.:
W. Hartlepool
!
1,4 S3
1,778
641
465
615
105
45
43
83
....
IS
Hamburg
t
_
59
Rotterdam..
70
251
Antwerp
-
’
-
Marseilles
South and Cent. America.
West Indies
Brit, and N A. Colonies..
Other countries
Total week
i
Previous week
lbs.
.
30
.
187
*
•
*
847
376
565
2,144
1,979
111
1S1
G4j
446!
7.662
4
7,043
3,231
Bacon,
Cheese.
lbs
Ids.
764,240 6,198,270 2,337,254
92.200
60,500
737,400
80.000
5S3.-25
89, ICO
2, *00
05,500
87,120
274 200
81,'50
99,210
291,182
240/279
107,697
608,040
99’6C0
1,320
426,350
304,000
425 4^0
Brtmen
Havre
*
Lard,
O V}
«_
♦I■■ § O
153,400
2,000
84,890 1,394,975
20,000
309,016
33,753
739^650
249,209
12,440
11,090
69,537
4,295,878 10.348,473
j 5,657,626|
1,917
147,655
1,133,164
889,754
1,121,668
1.102,742
2,727,141
431,334
614,301
40,382
21,010
33.822
63,169
247
•
-
-
17,134
-
117
pkgs.
cases.
83,034
191,112
48,429
40,912
1,991,542
436,963
343,767
35,514
66,925
33,907
16,614
1.266
726
16,190
70,498
188,841
137,971
12,626
62,614
2,355
4,335
1,875
5,241
179,249
1,167
76,727
of Domestic
182,872
94,490
136,558
92,129
Produce.
following table, based
upon Custom House returns, shows
the exports from New York of all
leading articles of dome* tic
^produce for the week ending with Tuesday last, from the 1st of
January 1878 to the same day, and for the corresponding period
Week ending
Nov. 12.
Ashes, pets
A9hes, pearls
Beeswax.
bbls.
bbls.
B>s.
.
Breadstuff's—
Flour, wheat
Flour,
bbls.
bbls.
bbls.
rye
Corn meal
Wheat...
*
bush.
Rye
bush.
bush.
bush.
bush.
bush.
Oats
Barley
Peas
Corn
Candles
Coal
Cotton
Domestics
Hay
Hops
Naval Stores—
Crude turpentine
9,0001
Tallow,
lh».
260,700
88,300
382,900
60,500
83,000
110,000
12,268
12,873
1,620
1,021
7,537
3,496,429
7,544,535 1,701,104
Tar
bitch
Oil cake
Oils—
Whale
941,421
962,767
Whalebone..
1,297,573
1,060,518
63,146
138,565
9.427
394,724
1,136
47,458,833
3,730,574
3,537,736
1,518,417
358,152
24,260,486
41,059
47.381
389,330
122,525
181
6.888
196,156
17,403,568
1,682,253
229,543
1,188,269
341,073
31,774,331
44,342
31,448
332,401
c6,408
38,640
905
51,031
40,674
49,653
112
135
15.t8j
23,252
223,354
7,011
203. U
9,643
bbls.
.bbls.
bbls.
...bbls.
7,838
cwts.
25,173
1,832,321
31,509
26.174
51*2.105
15S
f.t
291
,
5,054
391,926
200
44,401
1,059,469
82,081
228,366
1,092,910
9,797
343,129
11,309
gals.
2,529,424
183,038,0.7
2C6,7j6,5i9
bfrs.
5,700
1,595
209.656
160,858
35,142
ff>s.
hhds.
....bales and cases.
.
3,^01
177,213
4,089
pkgs.
.........lbs.
Ibs.
bbls..
B>s.
Tobacco
2,144,798
152
bales.
bbls.
tierces.
fl>s.
Tobacco, manufactured....
286
70,752
668
■
Cutmeats
1,337
108,753
1.2U4
15,912
gals.
gals.
Tobacco, leaf
'
212
156,169
tons.
gals.
gals
Sperm
Butter
Cheese
Lard
Rice
Tallow
1,325
bbls.
Spiiits turpentine
Lard
Linfeed
Petroleum
Provisions—
Pork.
Beef
Beef.
Same time
last yea**.
10
pkgs.
bales.
bales.
Rosin
Beef,
Pork. bbls.
bb!s & tcs.
pkgs.
Exports of Leading Articles
89,335
Exports of Provisions.
The following are the
exports of provisions from New
Boston, Baltimore, Philadelphia, Montreal, Portland and York,
New
Orleans, for the week ended Nov. 9.
1878, and their distribution:
To-
2,157
16,140
in 1877.
i
980,322
Cassia
51,533
76,060
116,710
1.263,845
927,937
l,c5n,624 1,214,789
680,370
693,251
pices. Ac.—
5.525
79,297
113,726
27,o7u
14.937
116,034
60,355
6C6
hhds.
bbls.
bales.
Wool
The
150
796
bbls.
hhds
bxe. and
Whiskey
730
$
Raisins.
1,610
Tallow
Tobacco
Tobacco
53,884
3,189
70,818
358,217
21,614
4,089
302,822
pkgs.
.
Sugar
692,632
2,198
67,057
357,482
22,804
4,012
403,783
No.
slabs
Sugar
763.206
43,341
50
1,332,7*5 1,091,995
<
1,262
4,351
38,526
l,4fci
1,155
103.084
528,536
509,464
1,924,980 2,540,640
607,107
785,143
5,848
value—
38.554 (
1,408 (
19.587
54,260
65.515
4,529
Lemons
5,853
Oranges.
4,77o
Nuts.
83,354
5,8%
969,213
37,626
1,053,773
463
kegs
?
Steariue
65.815
70,728
1,901
3,543
40,813
42,738
61,831
11,1*4
11,6^4
tcs. & bbls.
Spelter
3,333
9,296,116 9,189.618
1:4,216
163,872
16,328
5,165
4,549
^
574
Spelter, Tbs
6,915
65,139
21,07b
1,581,833
4,717
3,576
Mahogany.
ri
Lard
Lard
3,8*31,630
24
11,481
bbls.
Rice.
Hardware
Lead, pigs
6,934
Hemp, bales
Hides, Ac—
er
Eggs
Since
Same
Jan. 1,’78 time 1877
Cutlery
274,55.
33,717
3,371
Madder AExt.of
Sodaasb
Flax
Pars
12,743
35,770
1,495,407
Cochineal
Cream Tartar..
Oil, Olive
Opinm
Soda, bi-carb...
Soda, sal
13,493
33,588
197,163
29,071
4,3t8
7,768
119,164
18.678
Coffee, bags
Cotton, bales
Drags, Ac—*
Bark, Peruvian.
Ivory
Butter
Cheese
132,313
3,818,633
269,114
669
100
pkgs.
pkgs.
pkgs.
pkgs.
pkgs.
Cutmeats
Metals, Ac.—
Earthenware..
Glass.
Glassware
Glass plate
Jewelry, Ac.—
Pork
Beef
Hogs, dressed
ai
Earthenware
China
t1
Provisions—
451,903
563,377
185,041
112,915
•
,
8,434
bbls.
galls.
.......bush
10,527,,73
5,424 187
150,719
104.555
68,787
1.293
pkgs.
1,684,638
30.357,602
121,573
,.bbls
Peanuts
otherwise specified.!
bbls.
bbls.
bbls.
bbls.
206,439
2,725
...
Oil, lard
Oil, whale
158,310
112,387
13,546
..bbls
...
period in 1877:
4,162
8,995
2,740
3,276
.
Pitch
Oil cake
4,986,370
591,230
778,fc78
29,249
280,752
3.346
bales,
.bales.
sides
Tar
667,823
"
•
bags.
Rosin
12,881,779
660
bags.
Turpentine, crude
Turpentine, spirits
3.613,975
34,881,060
255,765
5,514
36,092
bbls.
Hides..-
44,288
The following table, compiled from Custom
House returns,
■hows the foreign imports of leading articles at
this port since
same
bush
bush.
bales
Molasses
Naval Stores—
Leading Articles.
January 1, 1878, and for the
Barley and malt
Peas
Cotton
Cotton seed oil
Flax seed
*
Grass seed.
Leather
Lead
$89,682
50,341
-
1,301,860
136,105
761,100
164,991
bush
..bush.
.....
Hops
204
102
104
352
136,3(5
Com
Oats
Same time
last year.
lbs.
lbs.
953
10,260,760
41,253
49,975
1.964,215
3,333,397
388,874,351
20,174,048
120,626.626
221,885,717
805,924
,62,423,354
301,439
2,645
1,129
78,535
20,758
106,445
78,262
6,392,552
95,113
49.278
209,401,908
■18,618,420
95,951,708
146,817,615
22,749
49,582,124
87,611
40,417
7,643,894
68,499
@FedFRASER