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financial;
xmm
AND^
HUNT'S MERCHANTS' MAGAZINB,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES.
IBntereJ aooordlng to Act of CongTess, In tbe year 1891, by
YOL,
Wm.
B. Daiia
SATURDAY. NOVEMBER
53.
%\xt
do.
do.
£1
do.
little
the courtesy of the
Terms of Sabscrlption— Payable in Adrance:
The Investors' Scpplement of 100 pages
due to the greater activity in stock speculation last year. Outside of New York the diminution iti but 3'8 per cent. Twentynine cities exhibit losses, Seattle leadiDi; with 33-5 par cent,
9s.
Issued every other
month, on the lust Saturdays of Jan., March, May, July, Sept. and
Nov., and furnished without extra charge to all subscribers of tlie
Is
Chronicle.
The State and City Scpplement (published two or more times a
year) is also given to every annual subscriber of the Chronicle.
A file covnr is furnished at 50 cents; postage on the same is 18
•enta. Volumes bound for subscribers at $1 00.
followed by Dallas and F.jrt Worth, each 31-4, and Chattanooga 28-5 per cent.
The iinp>rtaa': gains are at Orand
Rapids. 45 per cent; St. Joisp'i, 37-7: Houston, 80-8; Salt
Lake City, 39'9, and St. Paul, 25'8 per cent.
%V'»k
Terms of Advertising —(Per
One Month
(1
(8
(Orain
(Pitroleum
incli space).
791400456
tttara.,
(1.101..ITS)
(2,076,570)
bala.
(779,500)
(26,825,900)
(6W,500)
(-82-6)
( ^«7•l
(1,744,918)
(933.000)
tiM/iete.)
bbU.)
Sprlncfleld
Worcester
,
Edwards & Smith,
Portland
1 Drapers' Gardens, E. C, will take suband advertisements, and supply single copies of the paper at Lowell
New Bedford
B. DANA 4c Co., PnblUhers,
Total New England.
WILLIAM B. DANA WILIilAin
102 tVlUIam Street,
VORK.
JOHN O. FLOYD.
Philadelphia.
Post Office box 958.
Messrs.
(oriptlons
NEW
PIttsbarK
Baltimore
Butfalo
CLEARINO HOUSE RETURNS.
Washington.
Uocbester ....
The following table, made up by telegraph, etc., indicates
bank clearings of all the clearing houses of the
United States for the week ending to-day, November 38, have
been 11,048,264,531, against ifl,213,412,522 last week and
that the total
$1,032,672,141 the corresponding
week
Wilmington...
Syracuse
Bt ogham ton..
Total Middle.
Chicago
Cincinnati
Milwaukee
last year.
Uetrolt
Cleveland
Oleabinos.
RtVwrmM by Teleffraph.
New York
Boston
.............
PWIiulelphla
Baltimore
Chicago.
Bt. Louis
New Orleans
........ ....
Wtek EtuHng
1891.
1890.
Indianapolis...
Per Gent.
+21
8,772,383
«49S,513,879
6S,22),43S
48,733,324
9.624,167
68,423,000
16,010,580
11,288,282
$710,351,264
127,493,284
$703,814,687
126,211,416
+2-2
«846,tj44,648
«S29,0'J6,083
+2-1
201,419,983
203,646,053
$506,170,217
84,797,604
48,886,831
10,268,484
67,684.000
1S.87 1.845
Seven cities, 5 days .
Other cltien, 5 days
Columbus
JVbvemlier 38.
-0-7
-5-8
+6-7
+16-7
+5-7
-21-3
Peoria
Orand Baplds..
Total Middle Western.
San Frandsco.
all cities,
AUelUes,
Total
1
all
6 days..
day
clues for week.
$1,048,264,631
$1,032,672,141
+
+22-8
-16 3
112,356,774
180.888,933
-Tl
110,679,748
70,428,528
13,757.»70
15,973,340
9,275.183
1.733,881
1.538,904
849,025
988.684
aai.aoo
81,68 i.687
17,283.364
18,004,815
8,891,827
1,821,518
1,537.731
868,881
934,347
227,400
-16-8
-20-4
67,058.112
13,137,889
16.088,008
8,715,698
2,025,381
1,551.711
905.dl3
Tl
—11-31
T«'7
-4-8
-0-1
-2-4
+8-1
-14-4
109.394,316
-U-8
-19-6
+1-3
101,42U,430
14.938,750
7,386,486
8.211.108
5,7;W,781
3,460,280
+0-T
+13-4
-24-0
-8-4
-1-5
92.988.275
13.488.550
8,819,634
6,552,099
5,695,401
2,Uli.9u0
2,170,788
1,875.267
760,070
143,216,101
135,452,961
+460
~+6-7
144,242,019
+6-0
17,806,101
2,359,488
1,675,517
+23-2
+11-4
+281>
—35-6
+22-7
+10-0
22.246314
+4-4
2,8.10,171
852,^100
+19-4
+19-0
-36-2
-1-9
+19-0
29Ji43,368
+4-»
.1-7
+17-8
+6-7
+16-0
Minneapolis....
Paal.
10457,830
+12-4
+17-6
+26.8
-11-3
-s-a
-8-$
+S7-7
4-12*
4-188
-19-3
+6-1
6,933,746
4.601.429
4,501,197
2.421,807
1,865.158
1,390.;<)9
Not tnalad«« la
4,713.dtjO
2,50 i,*l
l,317..->61
1.8>2,80S
M8
-6-$
-0-1
916,081
+909
1,737,788
890.470
1,310,820
+^
-&»
-lS-4
6n9,«2S
621.347
490,308
44,577.328
40,604.198
~+T(9
46,378.997
23.667427
-0-9
-6-1
-15T>
+21-0
«ft,6»t446l
12.657,6961
716,
13.9.11.862
8.1189.242
3,480,888
2.3V6.260
I..13S.3»4
8.630,821
1.434.aS9
l,iae.62S
675.800
749.979
437.181
-10-1
-4-$
—r7
7,087,960
+W-8
4.0M,968
S,9M,«8I
-19-e
+10-1
-«1-1
l.l<87,U7
8,891,872
-M-4
+*0
1.818.S61
2,35.^,860
850,000
491,781
658,454
477.217
Uatveetott....
•
-4-1
-U-9
134,053,440
9.143.181
8,639,730
6.610.882
6,0:3.072
Tort
+0«
+1M
+7-4
-$-8
10,280,166
OuM«* Maw
-18-8
-82
920,l.t6
Kansas City....
Joseph
SlunxClty
IMS Molnea
-+•
-U-8
+16
+18-3
St.
-art
-0-4
+8-7
-7-0
-14-4
+10-8
114,773,902
to press
the oihcr clearing houses also exhibits a slight falling off,
BO that the decline in exchanges in the whole country reaches
-6-2
-1-6
-15-9
—13-a
100,523,993
14,103.760
7,410.130
8.640.730
5,793,157
8,417,800
2,296.334
1,912,931
1,087.978
—
all
—
-9-7
-4-4
21,166,333
Friday night. Below [{ouflton
Naehvllle
are our usual detailed figures for the previous week, that is Memphis
Dallas
covering the returns for the period ending with Saturday Knrt Worth...
Norfolk
noon November 21, with the comparative totals in 1890.
Chattanooga..
The volump of transactions in share, properties on the New Birmlnreham..
Laxlngton
York Stock Exchange shows an appreciable reduction from Savannah*
Atlanta*
the previous week, and there is consequently a considerable
ToUl Sonthara.
decrease in the aggregate of dealings atthiscity. The total for
Total all
we go
(-82-9)
95,514,696
6,089,700
1,876,172
1,696,487
1,619,836
1,303,830
1,281.744
918.888
668,783
8-5
811.500
The full iletaila of clearings for the week covered by the WlohlU
Lincoln
above statement will be given next Saturday. We cannot, of Topeka
ToUl other Western..
course, furnish them to-day, bank clearings being made up by
the various clearing houses at noon on Saturday, and hence in St. Lonis
New Orleans..
the above the last twenty-four hours of the week have to be r.rt»ulsvlll6
in all cases ewtimated, as
(1,292.000)
—7-5
105.388,91
6,657,600
2.129.646
1,410,018
1,354,255
1,320,107
1,361,597
780,95b
535,818
26,029,608
Omaha
9)
(+30-0)
(-84-3)
(280,O(X))
1.509.439
Los Angeles
-iri
(-46
(+60-ffl
87,458.118
6,425,700
1,923.386
1.348,880
1,280.930
1,300,800
1.284,675
922,532
448,750
846,453
Tacoma
P. Cent.
(66,636376)
Total Paciao.
Portland
Salt Lake City.
Seattle
-11 Denver
Ualath
1-6
(-»6-7
(41,701,876)
(784,000)
14.457.126
2,118,396
1,888,487
1,295.809
1.2«9,787
764,749
St.
Total
Wwrf'q ypy, J4
—15-7
1
t
IFa^jr
815,620,020
$ 3 50 Three Months (la times).. $25 00 Boston
" ).. 43 00 ProTldence
times)-. 11 00 Six Months
(26
" ). 18 00 Twelve Months (52 " ).. 58 00 Hartford
New Haven
London Aeents
21.
712.807,688
I
Two Months
KnmfiQ November
1891.
Subscriptions will be continued until deflnitcly ordered stopped. The New York
of—
publishers cannot be responsible for remittances unless made by drafts Sain
(SiMla
•r Post OtBce money orders.
{Cotton
Onetime..'.
NO. 1.379.
28, 1891.
more than eighty-one millions of dollar*. Through
Manager of the Clearing House at Binghampton that city is now included in our table.
Contrasted with the week of 1890 the exchanges at New
York record a loss of 15-7 per cent, but this is in some meaaura
a
ClPlxr0uijcIje.
For One Year
$10 00
For Six Months
6 00
Europonn 8iih»cription (Including postaj^e)
11 50
En^op<^an Subscription Six Mentha (including postage).
6 75
Annual Subscription in London (including postage)
£2 8s.
Six Mos.
A Oo.. In the offloe of the Librarian of OongreH, WasblnKton, D. O.J
•lS.!lOO
402. rao
~"+r«
+ra
-18-4
-131»
+U-4
-^4*«
-(0-8
-24-$
-96-5
—14-6
-rs
+4-1
+8-7
1.7aS.7M
9.087,**!
80,651.241
at,S8I.T4T
M,aaa,8*7
1.211.412,682 L.1«n^4nj98
-10-8
tl4:H6l.i76
~-r »
^~6O0.8O«.854
total*.
1.294 JOO-tTV
-is-«
THE CHRONICLE
774
relief which has come from Russia to bankers holding her securities was a part of the original contract,
and if so there has never been any cause for anxiety.
any
THE
The matter which we had prepared
cro-wded out to-day.
We
[Vol. LUr,
for this department
intend to give
it
As an influence directly affecting foreign exchange
and gold imports, and therefore the general situa-
is
next week.
rates
always have interest, but those
week by the Bureau of Statistics are
especially noteworthy. They are noteworthy for several
reasons.
In the first place the exports of merchandise
are over one hundred millions, reaching $103,933,21t6,
which is the heaviest total ever recorded. Indeed we
can find no total previous to this one that ever reached
one hundred millions. Again these figures are noteworthy because the total merchandise exports for the
four months since July 1 are also unequaled dttring the
same four months of any former year. The total from
July 1 to Oct. 31 1891 was*321,141,815, and the largest
previous total in our record for the same four mouths was
in 1880, when it was $295,121,376.
Still another fact
to be mentioned is that the net favorable merchandise
balance for October was $30,138,057, and for the four
months was $59,816,496. If we had room we would be
tion, the trade figures
made public
THE FINANCIAL SITUATION.
A holiday, its approach and its occurrence, and the
approaching session of Congress at which vital questions will be agitated, have no donht been influences of
weight, helping to keep business restricted this week.
Perhaps it would be correct to say that the prospect of
Congress coming together early in December has
during the most of the mouth now closing helped
And
to give the conservative tone to Wall Street.
importwe would not allot too, much
the feelbecause
circumstance,
that
ance
to
ing prevails that little or nothing with respect to
the currency will be tried or at least effected at Washington the coming year. Then, besides, there are
yet
causes in no manner connected with financial questions
this
and near the surface that certainly have had much glad to analyze these figures further, for they present a
We shall
to do with the quieter aspect in Stock Exchange circles. highly gratifying and encouraging exhibit.
We all know that general business has not de- have to rest, however, with the above summary, only adveloped as rapidly as anticipated; the situation in the ding that with such an exj^ort movement as is in progSouth, with the very low price for cotton ruling there, ress, such crop surpluses as the country possesses still
liai also raised the question in the minds of many left to draw from, and a need existing in Europe for
whether our industries are not to continue less active all we have to sell, the future cannot be made out to be
More- anything but hopeful.
after the holidays than was hoped weeks back.
No new features have developed in the money marover, prices at the Stock Exchange for most good propket
this week.
The banks must be quite generally
and
consequently
they
present
erties are not low now,
o such margin
for
a rise aa they did in the summer;
supplied with loanable funds, last Saturday's statement
by showing a surplus reserve of 113,323,750, and it was
Besides, the banks no doubt
only afford little hope fairly well distributed.
speculative managers
not
but
are actually de- this week have made a further addition to their reof present improvement,
pressing influences, some of their securities, widely serves, though the amount is not very large, the shipments to the interior showing some increase. Call
distributed, having declined greatly.
With such conditions and uncertainties existing it money as represented by bankers' balances has loaned at
should cause no surprise that progress in Wall Street 4^ and 2^ per cent, averaging 3^, and renewals have
affairs has been of a somewhat slower character of been made at 3^ to 4, while banks and trust companies
There has been no change in the tendency of maintain 4 per cent as the minimum. The demand
late.
prices; that has all the time been upwards and must has occasionally been a little urgent from borrowers
•continue to be.
Even general business after the who have been unable to procure money on time for
holidays we are inclined to believe will gradually de- want of acceptable collateral, but the liberal supply
Telop, notwithstanding the low price of cotton.
The seeking employment kept rates down. Money on time
great and uninterrupted prosperity of railroad property has been freely offered from city and out-of-town
minst speedily lead to greater expenditures by managers lenders at
current rates on first-class collateral,
of roads, and if so it is hardly necessary to add that but the
been
limited
supply
funds
has
of
this one mevement will touch and tend to impart on ordinary mixed security.
The demand for loans
activity to many important industries.
Moreover, the on first-class has been light and good on mixed collatfeature which we have often referred to, that the eral. Contracts have been made on the former, embracproducing sections of the West hare not yet, ing dividend-paying stocks for the body of the loan and
but in .very small part,
reaped
the
advan- 20 per cent good mixed, at 4 per cent for thirty to sixty
tages of large crops, corn being the surplus pro- days 4f for ninety days to four months and 5 per
duct in many of the States, indicates that as the year cent for five to six months. On all mixed securities the
progresses the capacity of the people to supply their rates are ^ oil per cent higher, while loans on mixed
wants more freely will increase with the passing months. collateral with some industrial stocks are 6 per cent for
while
the
poorer
class
of
stocks
controlled
;
This week,
too, there appears to be a disposition to re-
lieve our
markets of an important unfavorable influence
by admitting, as we have all along insisted, that the
reports so industriously put afloat that all Europe
was
at the point of bankruptcy, contain very little of truth.
In absurdity the new explanation for the change to the
better of the Paris situation equals that of last
week.
Even Eussia, it is said, has turned philanthropist now,
and has been bo kind as to take back the cumbersome
part of the securities she had sold the Paris
We think it can be
bankers.
asserted with entire confidence that
ninety days to six months.
demand
There has been a good
week from city and
for commercial paper this
out-of-town buyers, and Boston appears to be again in
the market. The best names are in demand, the inquiry
being small; the supply of
but there are liberal offerings of
lower-grade paper. Rates remain unchanged at 5 per
cent for sixty to ninety day endorsed bills receivable,
5^ to 5i for four months' commission house names, and
for
ordinary
first-class is
6 to 6| for
months
paper
only
fair,
good single names haying from four
to run.
to six
KOVKMBKR
THE CHUONIGLK
28, 1891. j
776
Europe was noting that the whole four of the great trunk liaea
namely the Erie, the Baltimore & Ohio, the Pennajrl*
on Monday, though vania and the New York Central are now agnin to be
The most important event of the week
in
tbo isaue ot the decree prohibiting the export of wheat
from
it is
which took
Kiifsia,
reported
effect
—
that vessels loading at Black Sea ports
A
have been permitted to finish taking cargoes.
cable
on Wednesday stated that Russia's deficiency of grain,
which must be met by purchases abroad, would amount
to 100 million poods, and it was also said that
of the Interior had
been
the Russian Minister
dismissed for misstating the food requirements of the
empire.
The movement
in
Dictator
Brazil against
classed
dividend
aa
pajers,
the
first-men tioocd
course only aa to the preferred shares.
It
is
of
many
years since this statement coull bo made, the )ait previous dividend on
the Erie preferred shares having
been in January 1884, and the Baltimore & Ohio,
which has now also entered the ranks of the dividend
payers, having paid nothing since May 1887.
Many of
the Western connections of the trunk lines, aa is
Fonseca resulted on Monday in his resignation, and
Vice-President Piexalto is temporarily at the head of
This event encouraged an advance in
the republic.
Discounts at that
Brazilian securities in London.
centre have been hardening this week under the influence
known, are likewise yielding better returns
Egypt, and to receipts of £366,000 from the interior of
The Chicago Milwaukee &
Great Britain.
earnings in
Foreign exchange was dull and a little easier in tone
until Tuesday, when dearer discauats ia London and a
demand for sight bills and cable transfers to remit for
the
to
their
owners than previously, the Lake Shore being on a
higher basis, the Nickel Plate having begun dividends
on its first preferred shares and the Pittsburg Cincinnati
Chicago & St. Louis also paying on its preferred shares.
Such facts are especially encouraging in view of the
of borrowing in the open market by the Bank of England, and also because of preparations for the bi-weekly very favorable reports of earnings for current "periods
The cable reports dis- which are coming to hand. The Chicago & Northwestsettlement on the Exchange.
counts of sixty to ninety day bank bills iu London 3^ ern has published its gross earnings for the month of
In Paris the open market rate is 2^; at October, and they show a gain of $333,572 over the
per cent.
The Bank corresponding month last year, the total standing at
Berlin it is 3 and at Frankfort 3J per cent.
This total is the largest for any single
of England gained £724,000 bullion during the week. $3,278,597.
This, as we are advised by special cable to us, was due month in the history of the company, and in fact only
to the import of £358,000, wholly from Brazil and once before has the aggregate reached three millions.
European account made the market
firmer, and it so closed. The only change on Monday,
compared with the previous Friday, was a reduction by
Baring, Magoun & Co. to 4 81^ for 60 days and 4 84^
On
for sight, making rates by all the drawers uniform.
Tuesday Brown Bros, and the Bank of Montreal advanced the sight rate to 4 85, and on TTednesday Baring, Magoun & Co. moved up to this figure, leaving the
Yesterday the Bank of British
long rate unchanged.
North America also advanced its short rate to 4 85,
itocks sold
for
its
St.
Paul also has the largest
$3,476,656, and
compared with last
the gross and of $390,-
history, the total being
company reporting a gain
as
year of no less than $570,885 in
033 in the net.
The Pennsylvania October statement,
too, has been
an equally striking state
of things, there being a gain in gross earnings on the
Erie of $215,259,
east of Pittsburg and
lines
and a gain of $302,439 on the lines west of Pitts-
issued this week,
and
burg
gross
in
The
and
reflects
making together an
month
for the
Erie,
receipts
gross
earnings
on
the
improvement
of
Eastern
the very large figure of $6,408,160, an
$517,698.
lines
reach
amount never
Only a few years ago it
before attained in any month.
bankers was considered quite remarkable for the tptal to reach
were
4 81^ for sixty days and five million dollars. On the Western lines we are not
close
at
the
Rates for actual busines were 4 80i furnished with the totals, but only the changes which
4 85 for sight.
to 4 81 for long, 4 83i to 4 84 for short, 4 S'li to 4 84i those totals indicate.
As those lines in the months imfor cable transfers, 4 79f to 4 80 for prime and 4 79 to mediately preceding were obliged to report decreases in
that
80
posted
the
rates
of
the
all
Gold
documentary commercial sterling.
been
1264,000
Europe
have
arrivals for the week from
by the La Gascogne to Lazard Freres, on Monday
^165,000 by the Etrnria to L. von Hoffmann & Co.,
and 155,000 by the Ems to Heidelbach, Ickelhcimer &
Co. on Tuesday, and 123,250 to Ladenburg, Thalmann
& Co. on Thursday, making $507,250.
To the other roads that have enlarged their dividends
or resumed them, must now be added the New York
Lake Erie & Western, whose board of managers have
this week declared a 3 per cent dividend on the preferred shares of the company.
This step, together
4 79^ for
:
their gross receipts, the gain
nanaged.
vhich the
iroducing,
ook for
f
which
evidence of the fruits
conditions in the general situation are
for we must suppose that if the out-
new
carrying
interest,
as
a
consequence
our abundant harvests, were not exceptionally bright,
assume the
he managers would hardly venture to
• :e8pon6ibility of
k
—
is a loss of $163,088 in the net, expenhaving increased heavily. This augmentation in
expenses, however, seems to follow from the fact that
last year the expenses were reduced, on a large gain in
The
following table carries the comon the Eastern lines back for a
parison as to the results
is
It is also significant as
the
im-
begin-
the gross, there
series of years.
significant of the
is
ses
improving tendency in railbecoming everywhere manifest
•imong properties that are honestly and eflBciently
is
is
only a trifling increase in expenses, thus furnishing an
improvement of no less than $290,187 in net earnings.
On the Eastern system, notwithstanding the gain in
gross receipts.
ion,
of $30i,439
ning to feel the effects of the new traflBc conditions
The
the good crops and the large iron production.
gain is the more satisfactory, since it was attended by
with the action of the Pennsylvania, the Burlington
V Quincy, &c., in increasing their rates of distribu-
road affairs
now
portant as evidence that the Western system
makiug
larger divideuds.
It
is
worth
LINM HAST or
PrmDuso.
IStL
18S0.
1880.
OclobfT.
«
I
«,1M.S01
5.8Sr,7T»
OroM eirnlnci
0p«rmt'g ezpaiuM.
«.»3s,3aa
Net Mintnci...
S,t7«.7«l
Jan.
1
to Ort. »1.
GruM camlmti
Opcrat'g •xpenrct
t
».nT.«07
1868.
1837.
1888.
*
*
*
S.14«,U8 4,SM.Ml 4.737.3U
S470,»1S
»,«373M «au4«s l,n».M8 1,70.888, 13W.747
«.«ia.814
SS.237,07S 60.&2«J98l!48.M3.141 4«,0«S.W«
30.I»<1,5SS
37.T48413 33|m7,7S7 S2.3St,8aO
MjTW^
id.i7ii8ilia3*a.<H»li*,8MAn
Net Mrnlncs.. 117.986314 (17.488,000 i7,oi8,sw
THE CHRONICLE.
776
fVoL.
.
LUL-
We have cited the St. Paul and Chicago & NorthVIRGINIA'S
SETTLEMENT.
western and the Pennsylvania in illustration of the good
Virginia's
debt
complications have been for yea
returns of earnings, because these are prominent roads
We may a grievous trial to every one directly or indirect]
situated in different parts of the country.
interested, whether viewed as a National question, as
j-efer to yet another road, with a distinct class of traffic,
State question, or as a question affecting Virginia
road
That
has
namely the Philadelphia & Eeading.
DEBT
increased
918, and
gross earnings from $3,133,830 to $3,346,-
its
its net profits
while the Coal
&
from $1,065,265
Company
Iron
$1,236,343,
to
has increased
gross
its
In a union like ours
creditors.
when one member
that
with
it
;
it is
pre-eminently trn
suffers all the
members
suffe
and that condition has been aggravated
i
this instance because certain loose
ends of the financii
from $153,113 to $343,350. Various other roads have break had gotten into such a tangle that for years bao
also furnished their October results this week, and the quarrel in progress has been unceasingly thrust upo
with comparatively few exceptions the statements are public notice. We also look upon this debt situation
The figures may be found in our railroad its relations to the people of Virginia more as an afflic
favorable.
tion than as bearing resemblance to wilful or voluntar
department in the usual place.
repudiation.
This is no doubt the view taken ii
irregular,
though
strong
The stock market continues
receipts
from $3,151,900
and
to $3,673,133
its
profits
i:
on the whole. The tendency of prices early in the
week was upward, influenced by the pacific outcome of
the meeting of the anthracite coal managers, the good
report of earnings for October of the Chicago &
Northwestern and the declaration of a dividend on Brie
preferred shares.
The absence
among
of trouble
the
financial circles, while the obstacles
but
not only financia
the State has to meet and overcome
an adjustment, are likewise recognized an
political
effecting
i:
Hence it is fair to assume that a situation o
default has been reluctantly andnred by the educatei
portion of all parties in Virginia, and tliat they wouh
familiar.
have at any time rejoiced over a settlement even mor
onerous
than the present plan if it could have beei
contracts by operators for lower prices, which caused a
accomplished
on a basis sufficiently within the resource
Lackawanna,
sharp rise in
Delaware & Hudson and
Philadelphia & Reading, and the rest of the market of the State to guarantee its stability.
coal roads induced the covering
This firmness continued
followed suit.
when
of outstanding short
till
yesterday,
the announcement of the failure of Field, Lind-
It is therefore for all these reasons that wo feel uu
usual pleasure in being able to print in this issue of thi
& Co. occasioned a rather unsettled feel- Chronicle (see pp. 799 to 804), the full official corre
The Richmond Terminal securities have been spondence of the Virginia Bondholders' Committee wit]
weak most of the time. The latest news tells of the the State Commission, and the report of the advisers o
formation of a sort of advisory board, composed of the security holders. We print these papers, we say,
prominent financiers, to examine into the condition with pleasure, because they now become historical as th<
ley,
Wiechers
ing.
of the property and suggest a plan for reorganizing basis of a settlement of the most serious financial impending the action of which commission the pres- pediment to progress any rich commonwealth in recenf
it,
ent managers will retain control.
The following statement, made
years has had to contend against
up from returns
•ollected by us, shows the week's receipts and shipments
of currency and gold by the New York banks.
Weelt
Bndin* Kov.
Received by
27, 1881.
Hold
Total gold and legal tenders
.
State Commission has done.
ment a very happy
one.
It
for we cannot doubt
consummate what the
We consider
the arrange-j
comes within a reasonaWfl
estimate of the State's revenue to meet, while the
Shipped by
seon-l
ifet Interior
N.T. Barika. N. T. Banks.
Oarrency..
;
that the Virginia Legislature will
Movement.
$2,365,000
700.000
$:i,991,0O0 Lo98.
$3,065.000
$2,991,000 O.iln.
$326,000
100,000 Oain.
300,000
$74.000
rity holders
obtain not
all
they desired but
could expect under the circumstances.
pleted
last
it
will
all
theji
When com
have removed a reproach from almost
commonwealth
in this
Union which
is
th(
resting undei
With the Sab-Treasury operations and the gold
It will put an end to th(
a stigma of repudiation.
imports the result is ai follows.
demoralizing litigation in progress, and remove itscansi
which has been a fruitful source of irritation and inteni
Into
We* £ndin« Sov. 37, 1891.
Out of
JTet Change in
Banks.
Banke.
Bank Holdinst.
fered with and imparted a degree of irregularity »nj|
Baifts* Interior movement, as above
$8,065,000
13,100,000
$2,991,000 Qaln.
12,200,000 Gain.
$74,000
900.000
$16,165,000 $15,191,000 Ooin.
$974,000
Sub-Treas. oper. anil gold importe..
Total gold and legal tenders
.
The
following table indicates the
amount
uncertainty to the State's revenues.
On the othsi
hand, it will make a live asset out of a security that "ht
not only afforded no income, but for years has been
of bullion
in the principal European banks this week, and at the
corresponding date last year.
tax on the holders
ciate in
;
and an
asset, too, that will apprij
value from the day the arrangement
is full!
'
carried out.
Novtmbtr
Btnkof
Gold.
36, 1891.
Silver.
Kovember
Totat.
Oold.
£
£
•£
23.801,000
23,801,900
I
-Jutland
France
©•rraany*. ..
Auit.-Han'jr
Both
27, 1890.
Sillier.
TotaL
*
£
24,683,076
»4,683,076
63,335,638 60,187,442 103.623,080' 44,596,000
49,8.54,000 94,4.'.0.000
35,076.000 11,692.000 46,788,000
25,463,333 12,731,667 38,195,01)0
6.(78,000 16,722,000 22,200,000
4,02.'i,000 16,607,000 21,530,000
Metherlands.
8.658.00(1 8,308,000
8,867,000
.3,412,000 5,311,000
8,723,0011
Nat. B'lKlum •
2.764,867 1,382,333
4,147,000
2,877,000 1,438,000
4,315,000
Tot.thlBweek 124,016,205 86,391,776 210,303,980
106,954,409 86,941,607 191,896,076
Tot. preT. w'k Ht,86«,*4e 86,174,526
209,140,871 104,058.614 86,010,333!
190,088,647
i^n tl^^^I^^rT ^°"^
*"•*
'"^^^ '^^«"
'°
»"' '""le ot coin and
.sue best estimate we are able to
obtain; In neither case
be accurate, as those banks make no distinction
In theTr
la It
claimed to
weeli™™*
we make Is a close approximation
lUlof thedateglyen at the head
of the column, they aie
thrretn^n.
«med nearest to that date-that Is, the latest
repirt Jfl^ee
result
is
should remember, however, that
parties
and
necessarily a compromise,
like
all
tli'
con)
promises the hopes of neither party c:iu be fully sati 4
fied.
Some desires each expected to gain have r i^
doubt been relinquished, for in no other way conV^
mean have been attained. Bearing upon
point an extremely important circumstance is th
the Advisory Board has fully approved and recoi>t
mended the adjustment reached. One need not spefj
of the standing of
the
members
of
that Board, or
their lack of personal interest in the issues involved,
I
M
any desire other than to reach a resr
nearly just as possible, or of their fitness as yf'
of the absence of
as
judges of the situation, or of the influence and
their
judgment must carry with it. All
weif'
these mattersi'
|
NOVEMBKB
80 evident
and
should consider
if
known that it would
well
dwell upon them.
concerned
THE CHRONICLR
i*. 18U1,]
it
bo superfluous to
THE GREAT NORTHERN PROPERTY.
When
they say, therefore, that thoy
unfortunate for the creditors and nil
the subject of this indebtedness and
settlement should be allowed to again
fall
777
When
Great Northern
the
Ilailway
Company
wu
organized and the control of the Manitoba properties
transferred to it, doubts were entertained in certain
its
into the whirl
when tliey quarters whether subsequent events would justify the
and other suggestions they append to thuir wisdom of the step. Such doubts were natural under
approval are made with "the hope that they may in the circumstances, since it remained to be demonstrated
some degree aid the hearty acceptance of the adjust- what kind of a record as a dividend-naver the new com
ment, which In their opinion ought to be a cause of pany would bo able to make. The company has had an
satisfaction to the bondholders, and of congratulation existence of hardly two years, but in that period has
to the people of the State of Virginia;
when this advanced rapidly in public estimation at least that is
Advisory Board not only approve, but thus earnestly the conclusion to bo drawn from the great rise in the
urge the equity of a compromise reached, and the danger market price of the stock. The issue price of the shares
involved in omitting to accept its terms, there seems early in 1890 was 50 to-day the stock is quoted at 112.
little need for any one else saying anythinsf on those Such a marked appreciation not only betokens growing
of popular political discussion; and, further,
add that
this
—
;
;
confidence in the merits of the property but wonld
seem to afford evidence also that the company has
points.
The element
of distribution, as
the State and her creditors,
a question between
under the arrangement
will need to be deteimined by the creditors themselves through the commission consisting of Mr. S. N. Braithwaite, Mr. J. H.
Daniell, C. B., and Hon. E. J. Phelps, late Minister
Should such a distribution be based upon
to England.
the average market price of the defaulted securities for
a series of years, the proportion coming to the several
agreed upon,
a matter
already experienced considerable prosperity.
is,
which
report, issued this week,
is
The annual
useful in furnishing informa-
tion as to the actual status of the property.
This report
tions
is
the
first
one covering a
full year's
opera-
and accounts, the previous report having covered
a period of only fire months.
mitted
it is
From
the figures sub-
clear that the results have proved very sat-
and that the success attending the management of the Manitoba lines, before the formation of the
Upon reference to the annual general report of the new company, is still a distinguishing feature in their
Council of the Corporation of Foreign Bondholders for affairs.
A quarterly dividend of 1 per cent on Great
the year 1890, page 206, we find the total debt given as Northern stock was paid November 1 1890 and an-
classes would,
January
of
1,
we presume, prove
isfactory,
to be a fair settlement.
other of 1 per cent February 1 1891; on May 1 1891
the amount was raised to 1^ per cent and the payments
1891, at
On page 205
$28,734,904
the deposits under the bondholders
agreement to Dec.
31, 1890, are stated to be as follows
l8t class—Old bonds and Interest
f 1,425,976
Deduct one-third West Va. .
475,325
Net applicable to settlement
Pealers and Interest
Black scrip
2nd class— Consols
3d c)ae9-10-408
4tli class- Tax coupons
since then have been at that rate.
Altogether, 3^ per
cent was paid out of the earnings for the fiscal year
:
50
50
ending June 30 1891, calling for $650,000.
The
revenue
statement
for
the
twelve
months
shows
that
f 950,651 00
76,021 00
from the railroad operations alone of the Manitoba the
12,620 36— -$1,039,292 36
company was able to make this payment (in addition to
11,381,424 42
4,852,000 00 the interest and dividend requirements of the Manitoba
3,843,631 98 itself)
and carry forward a small balance besides
Total deposits Dec. 31, 1890
$64,687.
$21,116.348 76
That is the result, as said, from railroad traffic alone.
But the Great Northern also has a large income independently of this in the sh^pe of interest and dividends
on securities owned and receipts from other outside
sources.
The income derived in that way in the late
have we understand been
deposited since December 31 1890, but for the purpose
of illustration we use the total given in the only public
record in our hands.
Estimating that the State would
issue $19,000 new bonds for every $28,000 surrendered,
this would afford the committee for $21,116,348 76
(plus interest to July 1 1891, 1^^ years, estimated, $1,These, on
400,000) about $15,278,000 of new bonds.
the basis of distribution above suggested, would be disAdditional
securities
therefore,
tributed for certificates of depositaries in the following
proportions, say
Class
"
"
4th "
-Ist
ad
8d
$1,039,292®70
$727,504
4^80
9.10r),139
4,852,000375
3.639,000
1,729,633
11,381.4
3,843,631'i3>45
$15,201,276
is
Sinee the Bondholders' Committee and the State
Commission came to an agreement, the Riddleberger
bonds have had a material advance, and when the settlement is confirmed by the action of the legislature the
new bonds ought to bo good property. From a speculative standpoint, and figuring them at a nominal value
of, say 65, the Ist cla=s (old bonds, Pealers, &c.) would
have a present cash value of 45^ the 2d class (con- reached about nine million dollars. The balance sheet
sols) would have a present cash value of 52
the third shows that there were at the close of the fiscal year no
class (10-40s) would have a present cash value of 48i
notes or bills payable whatever, and that the aggregate
and the 4th class (past-due coupons) would have a of all current and construction liabilities, including
present cash value of 29^.
pay-rolls, audited vouchers, and interest and dividends
;
;
;
^
sum of no less than $923,934. If this,
added to the amount earned for the stock
on the operation of the road, we get a total for the year
of $1,638,621, equal to 8 per cent on the $20,000,000 of
Great Northern stock outstanding. As already said,
the actual amount paid out in dividends during the
twelve months was only $650,000, and hence the differ^
ence between that and the $1,638,621 earned, namely
f988,621, represents the surplus remaining over and
above all charges, and over and above the guaranteed
dividends on Manitoba stock and the 3^ per cent dividends on Great Northern stock.
At a time when so many other large companies are
obliged to report burdensome floating debts, the situation of the Great Northern in that respect is marvelously easy, and this too notwithstanding the heavy
construction outlays on the line to tho Pacific coasts
the expenditures on which up to June 30 1891 had
year reached the
THE CHRONICLE.
778
accrued but not due, was only $3,809,749. If to this
the liabilities on current account of the Montana Central, the Eastern of Mionesota, the Northern Steamship
Company,
&c., are added, the
amount
is
altogether to $4,371,193, and against this the
iacreased
company
holds nearly four million dollars ($3,983,551) of cash
and accounts due it, $1,379,583 of actual cash being
lield in
New
York, $045,641 in
St.
Paul'
and $176,200
in London.
Both the gross and the net earnings of the various
properties controlled by the Great Northern increased
largely in the late year as compared with the year preceding, and this of course contributed to the good
showing made. On the Manitoba the gross rose from
$9,373,999 to $10,381,714, and the net (above operating expenses and taxes) from $4,582,875 to $4,818,109,
the results on the Willmar & Sioux Falls and the Du-
[Vol. Lin.
"tendency
,
1
of rates, have kept in view the importance
cheap operation, and to insure the ability to meet
these conditions in the future have made liberal ex"penditures to secure permanent improvements in the
" cost of transacting the company's business.
The other properties in which the Great Northern is
interested, besides the Manitoba, are showing steady
improvement with two minor exceptions they are paying their own way, and hence it would seem that before
long they will furnish a further source of income to the
Great Northern stockholders. In fact, a return from
them could have been obtained in the late year if it had
been considered expedient to distribute the balance remaining from their operations. The Great Northern
owns for instance the whole of the stock of the Montana Central and the Eastern of Minnesota.
The gross
"
"
of
;
earnings of the
first
of these roads in
the lata twelve
months wore nearly 1;^^ million dollars, and the gross inThe actual number of tons of freight moved come of the Eastern was almost a million dollars
figures.
was not as large as in the year preceding, nor was the ($950,240). After paying all charges and expenses,
number of passengers transported, but the tons of the one reports a surplus for the year of $219,869
freight one mile and the passenger movement one mile and the other a surplus of
$67,778.
The stock
were both larger than in 1889-90, the one having risen of the Minneapolis Union is also owned by the
Great Northern, and that road earmed a surplus for the
76 millions and the other nearly 9 millions.
What must be considered a particularly satisfactory twelve months of $71,279. The Willmar & Sioux Falls
feature in connection with the favorable results dis- and the Duluth Watertown & Pacific are the two minor
closed is that these results have been obtained on com- lines which have failed to show a profit oa their operaluth Watertown
&
Pacific not being included in theso
paratively low average rates.
In the late year there
was a further decline in the average on both passengers
and freight, the latter having dropped to 1*24 cent per
ton per mile and the average on passengers being 2-30
the first has a deficit below fixed charges of
;
$21,964 and the other a deficit of $95,619. 0» the
other hand, however, the Northern Steamship Company
has apparently yielded a profit above oxpensos of 8110,455
cent per passenger per mile.
and the SandCoulea Coal Companya
ef the Manitoba
and the
Considering the location
sparsely-settled
character of
much of the territory tributary to the system, an average on freight of less than IJ cent per ton per mile is
certainly to be regarded as strikingly low.
There has
tions
Altogether, therefore,
profit of §119,349.
the results of these outside
if
companies, which are reported separately, could be included in the general statement of the Great Northern,
the showing would be further improved.
been a great change in this respect during the last few
years. As recently as 1882 the average realized was 2-51
ERIE'S IMPROVING COXDITIGN.
cent per ton of freight per mile.
The decline since
then has be»n so large and constant that the following
The New York Lake Erie & Weitern is both a large
brief summary of the averages for each year will be coal carrier and a leading east-and-west trunk-line, and
found interesting.
this dual position is of great advant;)geto it. Very freAVERAGE PUB TON OF FREK^T PER MILE ON MANIIOBA
quently it has happened that the ordinary merchandise
1382
1883
1884
1885
1886
2-51
1-95
1-79
1-52
1-49
cents.
cents.
cents.
cents.
cents.
1887
18S8
1889
Ig'JO
1891
1-36
1-30
1-49
1-27
1-24
cents.
cents.
cents.
cents.
freight
cents
the coal freight.
of
the road, owing to short crops or business
depression, has fallen
off,
Then
only to be offset by a gain in
there have been years
when a
Only once was the downward movement arrested loss in coal freight has been made good by a gain in
through all these years, and then for a special reason.
merchandise traffic, the conditions favoring growth in
Of course except for the very heavy increase in traflBc the latter.
The result is that the comjiany has
in the same time the decline in rates would have probeen able to steadily increase its total traffic, a diminuduced quite serious results.
As it is the effects of the tion in the one class of freight, where it occurred, being
decline are easily discernible.
Between 1883 and 1891 compensated by an increase in the other, and thus the
the freight movement one mile increased from
341 mil- earnings have been rising to larger and larger proportons to 634 million tons, or over
85 per cent
(including the Willmar
Sioux Falls and the Duluth
lion
tions.
&
The report for the fiscal year ending September 30,
Watertown & Pacific), but the freight revenues
in- 1891, furnishes an excellent illustration of the feature
creased only from $6,687,934 to
$7,914,712, or less than here noted.
President John King, under whose
20 per cent, owing to the decline in the averat'e
per ton administration the property has thriven as at no other
per mile from 1-95 cent to 1-24 cent.
The
passenger
earnings in 1891 were actually less
than in 1883, though
in the interval the number of
passengers carried one
mile increased from 68 million to
84 million, the average per passenger per mile having
dropped from 2-99
cents to 2-30 cents. That the
management have understood thoroughly the requirements
of such a sitoation
as to rates is of course toD obvious
to need mention
There IS a brief reference to the matter
in the present
report. President Hill remarking
that
•
recent period in
year's
its history,
operations with the
concludes his review of the
remark that during the
twelve months in question the amount of
the highest point
known
traffic
since the railroad
reached
was
built.
borne out by the statistics furnished,
and indicates a very encouraging condition of the
company's affairs. It is the more encouraging since
many of the influences affecting railroad business were
This statement
is
decidedly adverse. The 1890 grain harvest as is known
"die Board of was very poor, and what an effect such circumstance
dixecton, bearing ia mind the
constant downward has on the traffic of the trunk lines it is unnecessary to
NOVKMBEB
dilat*
THE CHRONICLE
28, 1801.]
upon.
Moreover, as a result of that oircum-
stanco and the financial disturbances hora and abroad
trade and businosi in the United States wer« very quiet
and
inactive
— influences
expansion in the
trafiic of
not conducive to marked
the carjjing interest.
In
addition, the iron industry was decidedly depressed.
Eianiiaation of the
traffic statistics reveals, too,
779
On the Pennsylvania & Ohio the offocts of tboM Utter
circumstances wore quite pronounced, there being %
decrease of 137,954 tons in the shipments of bituminoui
coal and of 239,314 tons in the shipments of coke, and
was offset to the extent of only 65,951 tons by
an augmentation in the tonnage of anthracite, (the
the anthracite shipments over the Pennsylvania & Ohio are
presence of these adverse conditions, and particularly
For instance, on the Erie proper there
the short crops.
as this
not large) there was a small loss in the coal revenues on
this division.
were moved only 1,885,149 tons of flour and grain in
Notwithstanding this loss, however, on the Pennajl*
& Ohio division, the earnings from the coal
ceding, and though the total merchandise freight of freight of the whole system increased 1890,000. Total
all kinds on this part of the system increased 380,684 gross earnings of all kinds we have seen increased a littons, on the New York Pennsylvania & Ohio there was tle over a million dollars, so it becomes apparent how
a falling o£E of as much as 448,521 tons, leaving the prominent has been the part played by that class of
total of the combined system somewhat below the aggre- traffic.
In the fiscal year 1888 the result was much the
Furthermore, though the same ; then the general freight revenue fell off over a
gate of the year previous.
merchandise tonnage on the Erie proper was larger million dollars, but the coal revenue increased nearly a
than in 1889-90, the revenue from the same was some- million and a half. In the next two years the coal
what less $92,967 less. This falling off in revenue revenues declined, dropping from $8,290,098 in 1888 to
was due to the decline in the rate received per ton per $7,110,799 in 1889 and to $6,827,120 in 1890, but it so
mile from 753 thousandths of a cent to 733 thousandths, happened that the general freight revenues in those
a decline which is especially noteworthy in view of the two years increased very heavily. In the late year,
the late year, against 1,397,388 tons in the year pre-
vania
—
increase
proportion
the
in
moved, on which the
than on the through
accounted
grain
crop
we
rates
of
are
local
usually
The
freight.
by
when the general freight revenues again took a downhigher ward turn, the coal earnings, as we have shown, once
freight
decline
the
is
more followed the opposite course, and increased.
It is
worth noting,
though, that even with this increase la
and the consequent reduction in the late year of nearly a million dollars, coal earnings
rates by competition.
On the New York Pennsyl- did not get up to the high total reached in 1888 fallvania & Ohio the average on merchandise freight act- ing $573,000 short of the amount for that year, though
ually advanced a little from 583 thousandths of a cent this follows entirely from the lower rate received as
to 594 thousandths, presumably because the decrease in compared with that year.
for,
are
told,
small
—
—
was in through traffic moved at very low rates.
Yet the diminution in traffic was so large that notwithstanding the advance in the average rate received, earnings from the merchandise freight on the Pennsylvania
& Ohio record a reduction of over three hundred thousand dollars 8310,683. On the combined system (Erie
proper and New York Pennsvlvania & Ohio) the falling
off in the earnings from the merchandise freight as
compared with the year preceding thus amounts to
traffic
—
1403,649.
It is evident from such falling off that had the company depended merely on this merchandise traffic the
year's operations would have exhibited no improvement.
But the annual report before us shows that there was
improvement, and very decided improvement, total
gross earnings on the combined system having increased over a million dollars that is, from <29,068,-
—
Owing
to these counterbalancing variations
and merchandise
in
the
have
fluctuated less widely from year to year than would
otherwise have been the case, the tendency being, as
already said, steadily in the one direction towards
higher and higher totals. Since 1886 gross receipts
have risen from 24f million dollars to over 30 million
dollars, and since 1885, which was the final year of the
trunk-line war, they have risen from 20f millions to 30
millions, the latter being an increase of nearly 50 per
cent.
During the 'whole of this period, the upward
movement in the total was interrupted but once, namely in 1889, and then but slightly.
This analysis of the changes and sources of earnings
has aii important bearing upon the results for the immediate future. For evidently if in a year of short
crops, industrial inactivity and depression in the iron
trade, the road is able to produce such satisfactory recoal
freight, total gross earnings
—
935 in 1889-90 to $30,090,699 in 1890-91.
The cause
is
found in a great increase in the earnings sults as
we now
find, the
outlook for the current
fiscal
from coal
revenues year under the abundant harvests of 1891 and the
passenger
freight,
though
lat- promise which this gives of great activity in trade,
have also contributed some increase, these
It is a point of
great ought to be very encouraging indeed.
ter having risen steadily year by year for a
many years past. On the Erie proper the number of some importance that net earnings have not followed the
tons of coal moved increased from 9,587,982 to 10,751,. same course as the gross, that is, they have not tended
675, the addition consequently having been over 1^ uninterruptedly upwards in fact, have not tended
million tons.
The ton miles increased nearly 163 mill, strongly upward at all. This follows from the fict
ions, or from 1,084 millions to 1,247 millions.
Not that the managers have spent increasing amounts out
only, however, did the volume of the coal traffic expand of earnings for repairs, renewals and betterments, so as
in this marked way, but the road was able at the same to enable the road to transact business with increasing
time to obtain better rates, the average per ton per economy and placing it in better condition physically
As compared with
mile having advanced from 536-thouEandths of a cent than ever before in its history.
to 540-thousandths.
Evidently, therefore, the results the fiscal year 1887, gross earnings have increased
from the coal business were exceptionally satisfactory. about 3i million dollars, but net earnings have inAnalyzing the figures a little further, it is found that creased only from $6,819,084 to 7,259,697, or less than
—
the increase has been in the anthracite coal, the bitu-
minous
coal
showing a falling
off of
to the depression in the iroa trade
101,084 tons,
aud the coke
owing
strike.
half a million dollars.
The same circumstance has tended
to restrict the
surplus remaining above the fixed charges, and jet this
i
THE CHRONK.LK
780
It is intereiting
surplus has been rising year by year.
to have the record, and we print it below.
SnRPLDS ABOVE CHABGEg.
$14,611 1889 Surplus
601,799 18H0 Surplus
738,842 1891 Surplus
1886 Surplus
1887 Stin>'''8
1888 Surplus
'^^i''I?
860,254
1,005,378
The surplus for the late year was somewhat over a
million dollars, and the managers have declared a dividend of 3 per cent on the preferred shares of the company. Last year and the year before they made a divi•dend of 6 per cent on the income bonds, calling however for a payment of only about $30,000, the amount
Even the preof the income bonds being small.
ferred
stock
of stock,
dividend,
calls for
on $8,536,600
based
being
only a
over
little
a quarter of a
million dollars, while the year's surplus, as we have
This is the first dividend to be
Been, is a full million.
paid since January 15, 1884.
year 1889-90 was 1860,000,
As
the surplus in the
could have
been deemed prudent; and
dividends
Under
rVoL. LIU.
arrangement the Committee called for the
& Co., and succeeded in obtaining about 17 million of the total of 24
millions of common and preferred stock outstanding.
The committee also prepared a plan for submission to
the shareholders, and a meeting of the shareholders was
held in London in October to act upon it. The plan
proposed the formation of what is called a " Control
Company," in which was to be vested the control of the
Ohio & Mississippi shares. The Control Company,
it
have
was provided, should
first
$5,800,000
mortgage income bonds, $6,000,000 second mortgage
income bonds,
$16,000,000 non-cumulative
preferred stook and
$8,000,000
common stock.
A new mortgage was to be put on the Ohio & Mississippi
at 4| per cent, guaranteed by the Baltimore & Ohio, to
provide for new capital requirements and to take up the
old bonds (the most of them 7 per cents) and in return
the Baltimore & Ohio, if the arrangement shall be
this
deposit of stock with Brown, Shipley
been begun then had it
in fact the surplus was considerable in the three years carried out, will get the $8,000,000 of common stock
But the money was put into the prop- of the Control Company. It was stated that to put
preceding, too.
erty to improve it, such contributions being in addition tlie Ohio & Mississippi in first-class condition would
to the amount spent for renewals and betterments and involve
a total expenditure of $3,300,000,
and
The begin- from this the chairman at the meeting drew the condirectly charged to operating expenses.
ning of dividends now, therefore, is chiefly significant clusion tiiat if the plan submitted failed of adoption it
as an intimation that in the opinion of the management would "take the net surplus income of the railway for
continued improvements have at last placed the prop- " the next fifteen years, during which time neither the
erty in a condition where a part of the yearly surplus "preferred nor the common stockholders would receive
can be distributed among the shareholders. This indi- " a penny." If the scheme was adopted, provision was
cates a degree of progress in the company's affairs to be made at once for working the road in friendly
which a few years ago would hardly have been deemed accord with the Baltimore & Ohio. The interest of
But in the United States development is so the Ohio & Mississippi common shareholders in the new
possible.
rapid that a road needs only good management to Control Company was to be represented by $300 of secj
ensure a bright future for it.
ond income bonds and $800 of preferred stock for every
$1,000 of old stock, and Ohio & Mississippi preferred
CONTROL OF OHIO & MISSISSIPPI.
shareholders were to get for every $1,000 of stock now
It appears that the contest for the control of this held $1,340 of first income bonds in the new company
corporation has not yet ended.
Quo warranto pro- and 6 per cent in cash. This plan was apparently receedings are said to have hievL brought to oust the three garded with favor by the London shareholders, at least
diractors elected in the Baltimore & Ohio interest last those present at the meeting above referred to approved
week, and counsel has advised the board not to recog- it unanimously. The committee also were on the same
'
new members, because, as he alleges, they occasion requested to continue their services in arranghave no legal claim to their positions. Moreover the ing and carrying out the details of the proposed plan,
board has prepared a circular which we are informed " with such modifications as they may think fit, and
is to be sent to all the stockholders and which has been " either with or without a further reference to the
nize the
signed by
nine out of twelve directors,
setting
out " shareholders."
This outline of the action taken in England is essential to an understanding of the position the present
the reasons for the course pursued by the directors at
and since the meeting, and asking the stockholders to
the management in insisting
upon and requiring "additional and more definite''
proposals from the Baltimore & Ohio before turning
over control of the road to that company.
It will be remembered that sharp differences of opin.
confirm the action of
ion have always existed as to whether the preferred
stock of the Ohio & Mississippi is cumulative or not,
management now assume.
some
five
years ago,
at
They took hold
of the road
the request of the English
shareholders, and have succeeded in greatly improving
the property.
The
trust
having been committed to
them, they feel that in protection of the interests they
represent they are called upon to give holders an
opportunity to become acquainted with the nature of
*nd that
this has led to disputes between the common and the proposed plan and the actual facts of the situation.
the preferred shareholders. It was desirable that these They take exception to the opinion of the expert that
disputes should be settled, and at a meeting in London
of both classes of shareholders, held a little over a year
$2,300,000 would be required to place the property in
first-class condition, and to the conclusion drawn that
ago (November 6th 1890), a committee of five, con- fifteen years must elapse before dividends could be exsisting of two representatives of the preferred
share- pected on the stock; in disproof of that opinion they
holders, two of the
common
shareholders, with a fifth
member, was appointed, having power to
the shares and issue certificates against them,
as a neutral
call
in
" with a view of bringing about an arrangement
" between the two classes of shares and in connection
"therewith to readjust the
" generally
in such
manner
affairs
as shall
"interests of the shareholders."
of
the
company
seem best in the
by President Barnard
annual report that $640,000 would suffice
Even the
to complete the necessary betterments.
Ohio, the
Baltimore
&
guarantee to be made by the
assertthey
ought
to
be,
than
it
claim,
is
less
directors
ing that the sum which has been earned net for the last
five years exceeds the guarantee by some $300,000
direct attention to the statement
in the late
annually.
The
directors also say that they are advised
j
i
.
NOVKMDKR
28,
THE CHKONTOLE.
IWl.l
to the hn&l powor
guarantee the Ohio \ Mississippi bonds. But most important of all, the proposed
plan, counsel informs the directors, cannot be legally
that there are serious doubts us
of the Baltimore
& Ohio
carried into effect, a
stated,
wise
to
" Control Company" being,
opposed to the laws of Ohio.
made
that the
management
The
point
is
Yu.sliTdny morning, however, an
was sent out from the Brazilian Legation
nnnouncnmont
to the efTect that
the disturbances are much less important than they had been
represented, and that the Oovernment is quite able to maintain its authority
but very little credit is attached to the
assurance. Of course, tbare has been a ruinous fall in all
Brasilian securities. The 4 per cents, (or example, have fallen
alxiut £8, and at one time the decline was even greater.
If
the Republic split* up into sections nobody can foresee what
;
it
is
like-
nre asked to turn over
control of the road prior to the shareholders receiving
any guarantees that the provisions of the plan
ignorance.
781
will be
carried into effect.
Under these circumstances the
board think it their duty to continue in control awaiting the response to their circular.
The ground on which the action in London is opposed
becomes plain.
The directors recognize and
thus
happen but if the union can be maintained there appears
no doubt that the Brazilian Oovernment is in a position
to meet all its engagements.
Within ten days the Meaan.
Rothschild, who are the financial agents of the Oovernment,
have received in gold £850,000
and nearly £150,000
more in bills upon the best London houses. This addition to
their funds provides them with the means of meeting the interest and sinking fund for at least two years.
The Brazilian
Government has given guarantees in large numbers to industrial companies, and if the troubles continue, it may not be
able to pay those in full; but ultimately it ought to be in a
position to keep up its credit.
In the meantim.e, whatever
happens, there is no fear of such consequences here as followed
will
;
to be
admit that some advantage for the Ohio & Mississippi
might bo gained by making the road part of one of
the great trunk line systems.
The outcome of the
contest will be looked forward to with some interest.
In the meantime the present management will of
course remain in possession, for even with the three the crash in Argentina. The total foreign debt of Brazil is
only about 80 millions sterling, involving an annual charge of
directors elected last week the Baltimore & Ohio would
about a million and a-half sterling; and, luckily, there has
have only five of the thirteen members of the Board.
been here no fresh issues for two or three years; consequently
no great house is locked up as the Messrs, Baring and others
ptouetarmECJl^om nxcrctaT giigltslt Bctos were locked up in Argentine securities.
[Prom our own oorrespouaent.]
The
London, Satxirdav, November 14, 1891.
For the time being, the withdrawal of gold from the Back
of England has ceased, and during the week ended Wednesday night the Bank received from abroad,chieflv from Brazil
over a million sterling in the metal. Consequently the feeling
in the open market now is that ease will continue for the remainder of the year, and the rate of discount has fallen to
about 8Jg per cent, business in some cases being done even
lower. The fortnightly settlement on the Stock Exchange has
passed oflf easier than was expected; as during the fortnight
there had been a very sharp fall, especially in international
securities, there were fears at the beginning that some serious
difficulties would be disclosed.
But the failures have been
quite unimportant, and the demand for loans was exceedingly small, showing that the account open for the rise has
been further reduced. It may be added that the alarmist rumors which have been revived during the past week or two
appear to be quite unfounded. Of course there is a large lockup of capital, which is being increased by what is happening
in Brazil, and by the crises in Southern Europe but with the
•xception of one house whose name has been bandied about
for fully a year and a-half now, there are no serious difficulties here, and its embarassments have been fiilly discounted.
That this is the general opinion of the market is proven by the
low rates at which bills are taken. Of course there are evidences of serious troubles upon the Continent, especially in
Paris and Berlin, and failures there may be expected from
time to time, but at least no great break-down need be appre;
hended in London.
The silver market
The demand for Inis still without life.
exceedingly small, the Continental demand has ceased,
and there is no speculation. The price, therefore, is only
about 43s^d. per oz.
During the week the stock markets have been under the
depressing influence of the news from Brazil and the troubles
in Paris and Berlin.
As has been stated already in this correspondence, the quarrel between Marshal Fonseca and the Brazilian Congress was originally financial.
Congress wished to
stop the issues of fresh paper and the President and his Fi"
nance Minister wished to increase them. The quarrel was
embittered by an attempt on the part of Congress to limit the
President's powers and even provide in certain contingencies
for his deposition and trial.
It appears now that the opposition to his administration is very widespread.
Telegrams
received here state that the province of Rio Grande in the
south and that of Para in the north have actually seceded, and
dia
is
there are fears that San Paulo and Bahia may follow.
Other
telegrams state that the movement is not so much secessionist
as in opposition to the dictatorship; but the telegrams themselves are so meagre that it is difficult to make out what is really
happening. For days together ihe Brazilian Minister here and
the financial agents of the
Qovemment were
left in
complete
market have been increased by the
Spain. The Bank of Spain has now a note circulation
of over 81 millions sterling, and its metallic reserve is considerably under thn one-third required by law; consequently the
perplexities of the
crisis in
notes have fallen to a discount of about 18 per cent. It is true
that the Messrs, Rothschild have at last consented to renew
the loan falling-due in January
but it still remains improb;
able that they will
it is
difficult to see
make a
how
further advance. If they do not
a collapse can be prevented. While
the question remains undecided a recovery in Piiris
likely.
At the same time
it is
semi-ofBcially
is
un-
announced that
on Thursday a meeting took place between M. Christophle,
President of the Credit Foncier, which, it will be recollected,
brought out the Russian loan, and Baron Alphonse de RothschUd, the head of the Paris house of that name. Explanaassured
tions were exchanged and Baron
Rothschild
the President of the Credit Foncier that he is not hostile either
to the Russian Government or to the Russian loan, and that
all assertions to the contrary are false.
In Paris it is believed
that the Russian Government made representations to the
French Minister of Finance, and that he deputed M. Christophle
to remonstrate with Baron Rothschild. It is hoped, therefore,
London and Paris, will
and that if they do not
actually support the Paris market at all events they will
refrain from anything that would weaken it. If the Messrs.
that the Messrs. Rothschild, both in
DOW change
their
attitude,
Rothschild lend support, there are hopes that the troubles will
pass away, for a time, at all events. In Berlin the failure of
Hirschfeld & Wolfif has been followed by that of Friedlander
& Sommerfeld, the two brothers of the latter name committing suicide. It is reported that depositors in large nimibers
are transferring their deposits from other bank^ to the In»perial Bank, and what may be the rrault nobody knows. At
all events it is believed here that Berlin, like Pari^, continues
a very
in
critical state.
market seemed to be
about to break down on Monday ; but on Tuesday there was a
sharp and quite unexpected recovery, which was most marked
in the American department. Some of the greatest bouses
This alarmed the bears and
here bought very largely.
there was a hurry to cover. Unfortunately, however, the
news from Brazil and from Spain caused a fresh break in the
foreign market on Weinesdav, and smce then the American
department has been weak and inactive. Conflaence here,
however, is as great as ever in that department, and it a[^
pears to be certain that if New York recovers courage and
puts up prices, it will be supported by London. London, it
cannot be too often repeated, will not take the initiative; but
In spitoof the unqaee*
it will follow strongly if a lead isgiven.
tionable difficulties upon the Continent, the belief of the batt
informed here is that there will be no crash, and that though
prices must go lower, yet the difficulties will not be such as to
seriously affect the London department.
Owing
to all the troubles abroad our
THE CHUONICLE.
782
firm. The
is much more active and very
that the
Continent
the
upon
and
here
widespread
belief is
prohibit the
Kussian Government will almost immediately
to that effect
expert of wheat it is said, indeed, that a decree
the signature of
has already been drawn up, and only awaits
Russia have
Czar. There are rumors that the stocks in
The wheat market
XInsIIah FlnaRC'al markets— Per Cable.
The daily closing quotations for securities, &o., at London
are reported by cable as follows for the week ending Nov. 27:
;
the
already been dangerously depleted,
and that
in all probability
Whether
Russia wiU have to import wheat in the spring.
have to import
that be so or not, it is certain that she will
however, it
large quantities of other grain. For the moment,
itself with suffiprovided
has
here
trade
the
that
is beUeved
that therefore
cient quantities for some time to come, and
is not probable.
moment
great
any
of
rise
early
an
The
money have been
rates for
as follows:
Interest allowed
Open Market Batei.
hondon
Oct.
t
i
Bttit.
3«® - r^3M 3K9 - 3»®4
3 ®3M3M®3« 3«a4
2«a- 3H® - 33^® -
At 7tol4
Call.
Days.
IM
mm
m-m
i-H
lw-»«
9~ 3"~@ -
16 8
" 28 S
80 I
Nov. 6 4
13 4
294(3
- 2M® -
@
3
3H®
2«@3
3i,@33i
{3M®3^ 3ii®SH 3H<S>SH 3«® - 33i®4
;3«® - SH® - 3H»- 3K®35i3"^®t
'8
@3H
(?3K 3
The Bank rate
3
<SiSH'Sii»i
3Hi3il
IH 2X-2«
2k na-'iH
2ii
2ii<2H-2H
rates at the
the previous three weeks
now and for
Oct. 23.
Oct. 30.
Jiatet 0/
Interest at
Open
Batik
Hate.
Paris
Berlin
Market
Bank
HamburK
3
4
4
i^ankfort
4
Amsterdam...,
Brussels
3
S
Vienna
6
3H
3H
2«
2M
4«
f'H
6«
6«
Madrid
4
4
4
4
Copenhairen....
4W
Bt.
Bank
Open
Bate. Market
Petersburg
S
6
4
4
4
3
3
5
m
3
2H
2%
3H
3H
2H
2H
3
4
4
3H
3H
3W
2«
3
,Bank
Rate.
Open
Alt«. Markei
3
4
4
4
5
Open
Market
2«
3«
3
4
4
S
SH
2H
3
6
5
4
2J4
6H
6«
4
4
m
4«
1889.
1890.
Nov.
11.
£
Nov.
12.
14.
£
£
26,42»,45j
4,364,105
24,482.675
24,288,180
21.063,735
2,892,703
4.186,051
(Ither deposits
23,657,013
30,235.637
24,530,031
4,362.903
26,930,S04
Ctorernment securities
Other securities
Beierre
11.862,012
14.051,117
15.6l7,t01
16,609.966
21,056,633
25,037,160
19,005,595
13,973,143
11,101,776
11,969,327
19,8;a,035
11,700.905
Oolnand
23,94'),9J3
19,137,451
20,0-)2,507
19.561,730
Consols 25^ per cnet
•learind-House returns
The quotations
OOLD.
London Standard.
40^
im
33K
4
38
94 13-16
6 (Noy. 7)
03 13-13
98 15-13
100,902.a(Jp
131.l0a,000
124.832,000
5
5
•.
d.
Nov.
s.
d
128 14
80%
&
77 101^
77
S0dirt8.sllTer..oz.
77 llli
77 11M
lOM Bar
12.
Nov.
silver
oz.
IngSgra. gold..oz. 44 3-18
Cake stiver
oz-
fl.Ain.doTiblnonfi.oz,
If •zlean dolt
oz. 42)i
first
Jew
Bfltens
Indian corn
yiour
17«
r™!ISi!^°»^''®**-"'"^*-lS>-^*«''^12
14,192,016
2.779,917
8,623,447
Total
24,927,461 25,597,380
1891,
1890.
Aver, price wheat week.368. 7d.
323. Id.
Average price, season . .36a. 7d.
Sls.lld.
,
_,,,„.
The following
75
1181a
31i«
11818
11814
31%
1061a
521s
II8I4
31ig
1061a
521a
H8ia
30%
106%
73
73
5Si8
2014
107
maize afloat to the United Bangdom:
Thiatceek.
Last week.
W..4.
5^-^ivr£i-,^JI;
'iii-^
"^^
«"- 185,000
188.000
31
107
19 's
20
19 la
5618
2OI4
42%
4'2i8
42 14
42 14
43i«
2853
28=8
29
Philadelphia & Heading.
42%
Union Paciflo
Wabash, pref
28''8
52
7319
5018
237e
52%
74»«
56i«
20%
—
National Banks. The following national banks hav*
recently been organized
4,650.—The First National Bank of Platteville. Wisconsin. Capital,
*50.000. President, George W. Eastman; Cashier, W. M.
:
Hetherington.
Capital,
4,651.—The Globe National Bank of Kelispell, Montana.
Cashier, P. D. Hatcher.
$50,000. President,
4,652,— The Seymour National Bank, Seymour. Ind. Capital, $100,000. President, George F. Hiirlow. Cushier.
4,653.—The Farmers' National Bank of Longmont, Colorado. Capital,
$80,000. President, H. H. Stickney; Cashier, J. K. Sweeny.
———
.
Imports and Exports for the Week. —The imports of last
compared with those of the preceding week, show an
The
increase in both dry goods and general merchandise.
total imports were §10,453,419, against |3, 639,780 tlie preceding week and §10,331,091 two weeks previous. I'he exports for
the week ended Nov. 24 amounted to $9,389,544, against
The
.$9,549,240 last week and 58,429,729 two weeks previous.
following are the imports at New York for tlia >veek eniing
(for dry goods) Nov. 19 and for the week ending (for general
merchandise) Nov. 20 also totals since the beginning of tba
iveek,
;
week
in January.
rOREION IMTORTS AT
For Week.
9ea'l mer'dise.
YORK.
1891,
1890.
1889.
1838.
Ory Goods
NBW
Sl,8I9,295
7,066,502
$2,730,862
9,055,435
$1,984,836
7,956,441
$2,023,385
8,435,064
Total
Since Jan.
$3,885,797
$11,786,2971
$9,941,277
$10,458,448
1.
$115,817,012 $121,945,929 $136,517,501 $105,633,993
Ory Goods
9en'l mer'dise. 304,202,319 331,337,503, 306,546,8 i5j 363,377,669
Total 47 weeks. $420,019,331 $453,283,432, $493,064,3 1G!$471,0I1,561
In our report of the dry goods trade will be found the
mports of dry goods for one week later.
The following is a statement of the exports (exclusive cf
from the port of New York
to forei.s^n ports for tte
ending Nov. 24 and from January 1 to date
EXPORTS FROM NEW TORK FOR TBB WEEK.
:
1889.
1890.
1891.
$5,803,898
307,105,986
$8,031,554
310,211,210
$9,389,544
332,102,4*6
$6,253,974
262,429,316
Prev. reported.
since Jan.
and 1889
1,
shows the exports and imports of specie
for the week ending November 21 and
and for the corresponding periods in 1890
table
New York
at the port of
1891,
:
EXPORTS AKD IMPORTS OF SPECIE AT SEW TORK.
Imports.
Exporla.
Gold.
1889.
11,933,507
4,647,456
3,107,445
238,669
887,325
6,164,216
3,111,180
ll,98s?507
3,111 180
10,409 964
25,504,651
1889.
30s. 34.
29a. lOd.
shows the quantities of wheat,
\«
75
5559
ten weeks of the season
1888.
14,221,532
3,711,205
3,792,614
345,235
583,696
5,417,644
3,736,394
1):
3,072,261
if^J^h^lI°'^^
B»leBOl
home-grown. 6,506,988
75
Pennsylvania
The following
46 15-18
42 3-10
Supplies available for consumption (exclusive of stocks
on
September
I28I9
8OI2
75
Total 47 weeks. $268,683,290 $312,914,884 $318,842,761 $341,491,980
43%
of cereal produce into the
IMPORTS.
1891.
1890.
pwt 1.1,348,212 14,192,016
5,405,548
5,918,156
2,948.571
2,408,759
497,924
271,577
767,122
535,710
8,786,989
6,687,154
3,072,261
2,779,917
Barley
Oats
105
I28I4
8014
52J4
73=8
55=8
compared with previous seasons:
Wheat
105
12814
8OI4
52
73 ig
Por the week..
d.
4313-16 '431^
Span, doubloons. oz.
United Kingdom during the
103
75
5.
Bar silver, contaiu-
The following shows the imports
128
80
951 a
951?
951,8
95-20 95-30 95-40
102
L02
103
121
1201a 1201a
9014
89%
9014
79I8
79 18
79
Norfolk* Western, prof.
Northern Pacific, pref
ireek
143,004,000
a.
Bar gold, fine.. ..oz.
Bar gold, coutaln'g
439,9
953,8
95I4
127%
Louisville
1888.
London Standard. Nov.
5.
Fri.
43=8
dSiia
80%
Nashville
75
Mexican Central 48...
Hudson.
118'B
Central
&
N. Y.
N. Y. Lake Erie & Weat'n 30^2
107 J4
2d cons
do
Lake Shore
SILVER.
12.
Thurs.
,
^E>ecie)
68 Ji
for bullion are reported as follows:
Nov.
Wed.
43s»,fi
18S8.
Nuv.
i
13.
Olnmlatlon
Pnbllc deposits
bullion
Prop, assets to liabllltles.per ct.
Bank rate
perct.
Ttiea.
439,
9.1%
953,8
953,e
953,
95%
953,„
94-52ia 95'12ia
Fr'ch rentes (in Parl8)fr. 9485
102
1021a 102
U. 8. 4128 of 1891
121
121
121
U. S. 48 0f 1907
89I3
89=8
89 Ja
Canadiiin Pacific
7878
79
785a
Chic. Mil. &8t. Paul...
105
10434 104%
niiuoia Central
4J<
:
ISM.
Mon.
439 If
Con30l8,new,2% per cts.
do tor account.
Srst
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c,
compared with the last three years
Nov.
Sat.
d 4311,
;
13.
Jfol'.
@4M
4
1«
1«
2^
2«
and open market
of discount
chief Continental cities
have been as follows:
3«@4
l3>ifll4
Wst
Disc't
Joint
Four
Six
Stock
Ihrie
Six
Four
Three
Months
Months
Banks.
Montlu Months Months Months
••
London,
Silver, per oz
. .
for devoHts by
Trade
Dim.
Jlanli
[Vol. LIU.
1888.
14,221.532
3,736,394
6,768,798
24,720,724
1888.
3l3.
„„..
33a.
81.
6cl,
„a.
flour
and
Breat Britain
France
Germany
West Indies
Mexico
South America
All other countries..
Total 1891
Total 1890
Total 1889
1890
-isso
^-tfog
$129,300 $75,808,377
73,562 19,063,173
76,829 48,457,165
$946,898 $28,020,970
8,020,330
305,420
5,712,887
136,685
ssolooo
sgiiooo
Imports.
Exports
\
Since Jan.l.
Week.
$530,079 $15,637,900
1,275,071
54,360
Germany
West Indies
"i',237
South America
""i'oo
Total 1891
Total 1890
Total 1889
Since Jan.l.
$335,789 $10,790,973
9,958,06-3
221.564
4,078,353
379,790
2,111,659
443
62,28S
4,592
511,788
4,720
507,847
Week.
areat Britain
Week.
$37,123,402
16,547,183
17,031,557
$26,6bo
3,303,237
14,213
1,755,110
163,306
33,635
All other countries..
^'lll^
Since Jan.l.
Week.
4,410
259,143
43,000
603,517
138,373
$615,776 $17,981,420
434,927 16,092,586
48«.-.W2
$'84,106
95,650
$179,756
26,895
Since Jan.l,
$2,217
117
20,750
502,927
966,014
476,076
541,588
$2,510,289
6,349,479
l'q-^ '?^3
NOTDOBB
THE CHRONICLE
88, 1891.1
Of the above imports for the week in 1891 tS,0e9 were
*^°'^. '^°'^°' "'^ exporta durini? the same time
..To.;?"
fu'9,800 were American gold coin and $100 American silver
coin.
W.
MA Brooklyn tios Seoarltlet-Brokera' QuoUtiona.
If.
OA» OOMFAWtEg
.
US
Ow-Uirht
Oltttena'au-Uclit
Bond*. Si
The movetnent of breadstulTs to market is lndioat«d in ihe
Bcatenient bolow, prepared by us from the djfures of the New
Ooaaoliilated
give the reoeipU at
so as to prannat the
ending Nov. 81, 1891
three years:
OAB COM PA N I •.
am. Art.
I
Brookljrn
York Produce Exchange.
We first
Weatorn lake and river ports, arranged
comparative movement for the week
and since August 1. for each of the last
788
1
130
HO
W
Uu
jBMoy city * llobnkcn 170
M«trupollUn— Uouila .. 108
.
Untuitl(.V. v.)
13U
Bonda.ei
100
U7
ITMuaiBrookIrn)
(Jortp
1
1
7J
.WlllUmnl.urit....
lliimU.Aa
03
100
1
I
114
104
Mstrunul!un(Urooklrn)..l »i
Mnnlolpal— liniiila, 7a
if
1
I
A*k
BM.
,
Pimnlii'XRrooklnit
'101
Palton Munloliial
133
103
llnnila,
I
119
«a
1100
(120
;B«iilUI)le
fioa<U,6a
10*
100
—
Anctlon Sales. The followmg were recently sold at aucby Messrs. B. V. Harnett & Co.:
SItm-tt.
Bmut:
<0 Amf r. Exch. Nnt Bank U3
fZ.OOO Federal Vnlley Coal
tion
10 Keal Est. Loan & Tr. Co. 165
Koiirth National Bftiik.
170\
Co. 6a. lOOS ....
23
$3,000 Cov A Maoon RU. Co.
6a, 191.% reo. of eats Don.
ATruat Co. of Baltimore .. 08<4
$1,000 Iron Hil. Min. Co., iiO
each
4>
3.^sbar«,
$10,000 New York Club 6a .. 91
The following were recently sold by Adrian H. Mulier Son :
Hharet.
Bondt.
IS Continental Ina. Co
313>g $1,000 Conaol. Ooa Co. of S.
'
'
iO RntKera KIre Ina. Co
~
108
Y.. 58. Dob.. I'lOS. M4N....108
8>4Tnide8men'a Nat. Bank. 08>£ $5,(K»0 Warren KR.Co.of N. J.
30 42d St.<SE Urand dt. Ferry
2d .Murt.. now Ist, loiar. 7a.
RK. Co
I'.iOO. &M>
119*4
2401a
70 German American Bank. 120
$1,000 Ellz. Lex. & Big Sandy
60 «iirlleld .s. Dei). Co.. N.Y.IOO
KB. Co., iHtOs. 1902. MAS. 80>t
54 Nat. Banlcof Com.l83«i-186
$5,000 Frem. Elk. 4 Mi».Tal.
13 MccU.& Tr. Bank,li'klyn.255
RR. Co. Con. (is, I9.I3,&40.122
5 Kiilo!;orbofkpr Trust Co. 177
$9,T00 Cent. RR. 4 Bank. Co.
100 N.Y. Bowery Kite Ills Co. 72
of •.a.. Cert, of Indebt. ...80-00
300-305i« .$30.0110 State of Loulifa, 8s.$25
37 Nat. rark Bank
15 Franklin Trust Co
235
*12.0(X) Utah West. R'y Co.
12 Nat. Broadw'y Bauk.2-*7-294's
Ist M., allooupona on
5
8 The Financier <'onii>any.lOO'a $10,000 .'tfansfleld El'o Street
16 Third Avenue RR. Co.... 229
R'y Co., 1st 6s, lull, J&J,
700 Stand. UasL.Co.oom.iiilO share
Jan., 189U, coupons on
$30
Bo„rta.
$71,000 The San Bebaa. Gold
$1,000 Met, Gas Llxht Co. of
Minln;; Co.. 1898, J&J.,
N. Y.,e8. 1901. F&A
109
Jan., XS91, couponaon
10
!>»
. .
20 Uall.itin National Bank. 312
100 Am. lA>aD & Xr. C*
«eo lot
&
I
|
.-.
Below arn the rail shipments of flour and grain from
Western lake and river ports for four years:
1891.
1890.
Week
277,162
247,047
916,!Hi)
756,6i)0
886.390
597.697
823,903
451,690
Ii'ii.lft2
2,13."i.09'>
6U.389
3-l«.83'>
1,6 19,9 -'4
32(i,i79
112.163
.4,297.730
Wheat
..basb.
Oat«
Barley
Bye
w
The
receipts of flour
ek ended Nor.
61,890
14,723
61,535
Philadelphia.
Baltimoro
.. ..
108,2-|0
Blohn'.oud ....
4,825
13.359
New Orleans..
lll,2'.'n
888,5.11
103,190
423, .'592
99,319
426,671
49,750
3.563,436
2,791,239
2,431,231
bueh.
555,967
103,729
8-',360
1,200
53,635
384,047
17,310
171,022
176,342
81,184
16,083
45,918
To!al week..435,.548 2,584,644
•or. week'S0.295,9.il
233,907
824,243
Com,
bush.
NawYork.... 170,967 1,762.050
Boston
Montreal
N'le.
follow:
Wheat,
bhlt.
23.
and gram at the seaboard ports for the
31, 1891,
Flour,
xt—
Week
24
301,170
Nod
...bbls.
Total.
13 88.
ir««*
Nov. 22.
Flcnp.
Com
1839.
Week
Nov. 21.
780.894
Oat;
Barley,
Rye,
biith.
buth.
bunh
952.225 397.050 218,650
134,167 17.601
9,172
37,964 60,666
226,520
600
44.000
17,474
6,216
48,174
935.455 l,4t9,266 47.5,317 245,890
938,752 811,968 135.507 42,715
The exDorts from the Beveral seaboard ports for the wiek
ending Nov. 31, 1891. are shown in the annexed statemonl;:
BxportB
Wheat,
]rom—
Bnth.
arawTork 1,714.157
Boston.
121,911
Portland
Montreal.
16i;373
Oom.
tlour.
K-nth.
BjI$.
151,639
02,078
Bye.
Oalt.
74.995'
31,607|
B^aK.
98,468
I
Feat.
But*.
15,056
I
ButK.
58,831
—
&
Messrs. Maitland, Phelps
Co., New York, Rhode Island
Hospital Trust Company, Providence, and Messrs. Ricliard.soD,
Hill & Co., Boston, invite subscriptions at par for |S7.'>,000
seven i)er cent cumulative preferred stock and $.500,000 common stock, lieing one-half of eaclj class of the authorized capitalization of $3,750,000 of the Rhode Inland Perliins HorseShoo Company. The property and business have been examined by a disinterested committee, consisting of three
prominent business men of Providence, who estimate the
cash value to be $'3,500,000, exclusive of $350,000 cash assets.
There is no encumbrance on the property, nor can any be
placed upon it without the assent of 75 per cent of each class
of stock. The profits for the last five years have averaged
$363,654 for eacli year, sufficient to pay ^}4 per cent on the
preferred and IIJ4 on the common. Farther particulars may
be found in the advertisement in tliis issue.
Investors interested in city securities are invited to notice
the offer of Columbus, Ohio, 5 per cent refunding bond.s by
Messrs. N. W. Harris & Co. in another column.
Investors are requested to notice the list of b')nds offered
in our advertising columns to-day by Messrs Charles T. Wing
—
—
& Co.,
this city.
|
255,670
317,782
118,956
95,156
Piilladel.
Bsltlm'ro
N. Orrns.i
R.News..
Bichm'd
12^171
100,286
137|
2 1.0.53
123,217
59,21 ll
58,2021
"^dxihinQ autX Iflumiclal.
49,053, 137,616
15,886
82,195
1.358|
....
LIBERTY NATIONAL BANK,
30,101
Central Bulldinz, 143 Libertr
.
r<Jt.W6ak. 2 788,011
B'me tlmej
1890...I
303,334
335,lS4j
300,530
221,633
182,220
216,497
201,504!
131,034{
7,114'
1G.932
41,533
The visible supply of grain, comprising the stocks in granary
at the princical poin s of accumiilation at lake and seuboa; d
partf, Nov. 31. 1891:
In store al—
HjwToi'i'
....
Do
Wheat,
bruh,
7,131,481
2u0,8U0
afloat
Albany
BiCfalo
MUwankee
1,938;979
6,501,077
252.131
Dolntli
4.3'J4.457
Toledo
l.519,«05
Chicago
Detroit
591,423
35,000
Oswego
Bf. I.«nia
D) aHoat....
Cincinnati
.,
Boston.
Toronto
Montreal
Philadelphia
Pforla
IniUanapollg
Kansas City
Baltlmnre
MlLneajmlls
„
,,
On Mlaslaalppl...
On Lakes ..:....
On canal A river.
Tot.
Tot.
lot.
Tot.
Tot.
Nov. 21,'91.
Xov. 14. '91.
Nov. 2y.'90.
Not. VS.'SO
Not. 24,'88.
3,16'i,060
62,300
21,000
168,129
27.782
262,270
562.454
13.5'<3
Oom,
60,^02
7,023
i:ii",io7
"82,008
2.',6tJ8
37,548
77,183
87,621
i',945
63.039
""252
161,012
24,974
108.722
800
9'*9,163
57.094
59,211
l,738,S7l
4,967,876
89,200
3.'»71.446
2,056,000
Bar
Oatt,
buth.
buth.
Iniih.
95,790 1,457,834 1,103.718
33,900
"7.5t'6
27,600
28,S00
100,337
•.i6,'-6.1
39,603
609,181 781.955 339.168
1,013
4,502
54.904
""426
624.323
50.983
1,930
117.990
239.530
210,722
211,510
193.568
146,674
1,304
3.050
876,574
18,000
13,038
290
13,569
17,<:23
ey
busH.
107.746
109,600
16,000
431.931
372,172
372,002
87,303
3,314
17,000
104.633
130,832
41,014.514 1.950.030 4.645.230 2,505.304
38.828,513 1.805.633 4.473.825 2,460,733
24,189.819 4,328.559 3.530,286 561,901
30,124.05it 6.100.154 5.90»,713 1,1H4,346
35,238,047 6,974,926 7,627,121 1,730,921
C. TINKER,
IIKNRY GRAVES,
«EO.
J. K.
F.
BAKER.
MAXWELL.
H. C. FAHSK3T0CIC,|
HO.X. O. A. H:>BART
E. P. C. YOUNC},
W.M.
RUNKLB.
DUMONT CI.ARKB,
J.
A.
UARLA.-^D
JNO. U. STARI.N,
I
,^
THE MERCANTILE NATIONAL BANK
OF TUK CITY OP NE5V YORK.
No. 191 Broadway.
$1,000,000 SorpIasdcProflts, $950,000
FRRDBHICK B. SCUBNCK. CaJhlar.
ST. JOHN, President.
-
Capital,
WILUAU P.
1
I
JAMBS V. LOTT. Assistant Cublar.
ACCOUNT:^ MOLICITED.
THIRD NATIONAL BANK
CITir OF NEW YORK.
...--.
OF THE
Capital,
J. B.
HB^fRT CHAPIS.
Aeeoants
$1,000,000
WOODWARD
III.
sollotled
and
Prasldsnt.
...Citilsr' J. I'aaD'KS.V'JVsr ...Vs<t.C»!>lsr
carefal aiMatlaa to the InterMU of 0«p<>sltar«
vuarantaed.
26,812
290.600
121,300
kark.
DIRECTUUsi.
HEVRY
99,268
220.000
128,461
97.000
20,020
100,625
194,263
New
S4treet.
8500,000
CAPITAI,.
ACCOUNTS OF BANKS. BANKERS AND MEttCHANTS SOLICITED.
IlENIir ORAVB3, VIce-Presldaat.
HENRY C. TINKKBProsldent.
JAMES CHRISTIE, Cashier.
735!437
610,Ol>0
3.736.4*1
3.2il5.029
5,095.909
:M41.43l
2,062,343
Spencer
Trask
&
Co.,
BANKBR9.
Not. 16 and 18 Broad Sirevi, FTevr York Cltr.
PROVIDB.NCB, R. I
SAIIATOUA. .S. Y:
ALBA.XT N. Y.
Ttt.lNSACT A GE\B»\L DlNKINn BITSI\I5SS.
All clasMs of SaearlUas B}n«lit »ai Sail on '>>'aiiUialoa. •»«l») attvaMoa
Mai uAiaaai PaUatMpjt^
K<ran u> In'Wtraftat SdoarlUm. DlrMt wlra
Boatoa aad Ch'
u
U
THE CHUONICLE.
784
IThje
hawkers'
IVOL. LIU.
Posted rates of leading bankers are as follows
November
DIVIDENDS.
Ifame of Company.
:
Ciaieettf.
Per
When
Cent.
Payable.
Books Closed.
(Days inclusive.)
Demand
Sixty Days.
27.
Prime bankers' sterling bills on London.
Prime commerciaV
,. 4 79% 44 80
Documentary commercial
4 79 *4 7914
Paris bankers (francs)
5 2438a>5 2334 5 217ea5 2114
Amsterdam (guilders) bankers
39i»i«»39'8
401,6* 40J«
94'«ai94^
S'ranktort or Bremen (relclimark8)b'nker8
95 » 95i«
I
I
Kallrnadii.
Concord & Montreal class TI *...
Delaware & Hudson Canal (auar.)
N. Y. Lake Erie
& Western
2
1%
1
Dec.
Dec.
15 Nov.26
Jan.
15 Jan.
to Dec. 15
to
1 to Jan. 15
2»a
pref..
3
United States Bonds.— Quotations have been as follows
& Montreal.
28
..reg.
WAL.L. HTREKT, FKIDAV, NOV. ST, 1891-3 P.M.
4s|i907'.'.'.''.'.". ..reg.
coup.
48,1907
occurThe
Situation.—
Money
Market
Financial
The
and
68, our'cy,'95.. ..reg.
rence of Thanksgiving Day on Thursday caused a broken week 68, cur'ey,'96.. ..reg.
68, cur'CT,'97.. ..reg.
in business. There was some apathy after the holiday London 68, cur'oy,'98.. ..reg.
was doing very little in our market to-day, and this, coupled 6s, our'cy,'99.. ..reg.
*
Interest
Nov.
Periods
•21.
Nov.
Nov.
Not.
23.
24.
25.
I
Nov.
26
Formerly Boston Concord
;
with the suspension of Field, Lindley,Wi€cher8 & Co., caused
dulness in Stock Exchange business and some depression in
the morning, though followed by a much better tone later in
•
the day.
is
ni6%*117
11714*116%
*H7
111
111
J. 111 I'lll
J. •11214, *ll2is '112i« *112ii)
J. 114i« *114ii);*ll4ifl 11418
*117
1*117
117
J. 117
J. 119>«*l]9>3'*li9ii 119i«
•111
tbe price bid at tUe morning board : no fUe was m.i it.
Coins. The following are the current quotations in gold for
various coins:
Sovereigns
$4 84 ®$4 87 Fine silver bars.. 91^ a — 95i«
—90 3 — 95
Napoleons
3 85 a 3 90 iFlvefiajcs
XXReicbmarks. 4 72 a 4 76 Mexican dollars.. — 73% » — 75
Do unoommerc'l — — a — —
4 78 3 4 85
25 Pesetas
—70 9 —72
Span. Doubloons. 15 50 •al5 70 Peruvian aols
_
®15 70 English silver.... 4 80 a 4 90
Mex. Doubloons. 16 50
—
prem.lU.S.tradedoUara
70 a — —
par
Fine gold bars...
^H
(JoTernnient Purchases of Silver.- The following shows
the silver purchased by the Government in November. The
Government having purchased the amount of silver required
by law for the month of November, no further purchases will
be maie until the 3d proximo
—
j
:
Ounces
offered.
The great shaking up in the securities of different Governments the past year— Argentina, Chili, Brazil, Spain, Portugal, Russia—should turn the attention of European investors
again towards American railroad stocks and bonds as desirable
investments for their surplus money. Our railroads, without
hostile or unreasonable legislation, have good prospects in this
rapidly-growing country, but if the legislatures in some of the
States take such action as to prevent their railroads from earning any net income it will put an end to further investment
of capital within their borders. Railroad stocks and bonds
are in fact securities based on improved real estate having an
earning capacity of greater or less volume, and the tendency
of all that sort of property in the United States is usually
towards increasing values if only left to its natural development.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 3}^ to 4>^ per cent,
the average being Z}4 p. c. To-day the rates on call were 3 to
4 p. 0. Commercial paper is quoted at 535J^ per cent.
The Bank of England weekly statement on Thursday showed
an increase in specie of £733,000, aud the percentage of reserve
to liabilities was 45-30, against 43-83 last week the discount
rate remains unchanged at 4 per cent. The Bank of France
shows an increase of 4,300,000 francs in gold and 1,375,000 in
;
silver.
The New York Clearing-House banks in their statement of
Nov. 31 showed an increase in the reserve held of $5,331 300
and a surplus over the required reserve of $13,333,750, against
9V,4o3,150 the previous week.
Differen'sfrom
Prev. week.
*114ia
*117
*119is
•Tliisls
talked about.
1891.
Nov. 21
*H2i«
I
The railroad situation remains as strong as ever, and the
good outlook ahead seems to reach well into the future, as the
roads will have the Columbian Exposition traffic following
soon after the heavy tonnage which arises from the transportation of the crops of 1891; and part of this tonnage, tnat pertaining to corn, will last well up to the end of 1893.
The monetary situation in London grows easier, the Bank
of England gaining £883,000 in bullion this week, and
already a jwssible reduction in the rate of discount in December
*100
•117
-Jan
Q.-Jan
&
&
J
A
27.
*100
101
117>4 *II0%
(5.
<fc
Nov.
103 1*101
116%' 117
Q.-MCI1.
J.
J.
J.
J.
J.
:
1890.
Nov. 22.
1889.
Nov. 23.
November 16
959,000
606,000
799,000
18
20
•Local purchases
•
The
month
Price paid,
a $0-9580
409,00 .fO-9150 ® $0-9470
430,000 $0-9475 ® $0-9490
320,000 $01)495 » $09498
tt $
410,000,$
2,862,00'' $0-9470
Previously reported.
•Total in
Ounces
purchased.
4,437,O0Ol$0945O ®$0-©580
to date.
local purchases of
each week are not reported
till
Monday
of
the following week.
State and Railroad Bonds.— Sales of State bonds have included $39,000 Tenn. settle. 33 at 70@70i>^; $5,000 Va. 6s def.
at8K; $30,000 trust receipts, stamped, SaiSii; $5,000 So. Ca.
68,non-fundable,at3i^; $5,000 Ala., class "B,'^ at 107Ji; $5,000
Ala., cur. funding 4s, at 97.
Railroad bonds have been only moderately active, the prin-
on particular issues, as usual. The
Reading incomes have been prominent for comparatively
large dealings at good prices, and to-day, since the October
statement of earnings came out, they were in still better demand. November is the last month of the company's fiscal
year, and assuming that its net return will be $300,000, after
cipal business running
allowing for all adjustments, the reported surplus of the year
on both companies would be $3,000,000, whicli, if applied to
payment of interest on the incomes would pay 5 per cent on
the firsts and seconcJs; but whether this surplus wUl all be
applied to the incomes is not definitely known to the public.
Of the bonds belonging to the Atchison system the Colorado
Midland firsts have been most active, closing at UOJ^; Atchison
incomes are steady at 1101^. The Richmond Terminal bonds
will await the result of the meeting on Dec. 8 to decide the
status of the company. Toledo St. Louis & Kansas City 63
have been higher at 933^ on the published earnings of the road.
Northern Pacific consol. 58 sell at SJJ,^ or about 80 ex-interest
due Dec. 1. Tlie Chicago & Northern Pacifies have not yet
been materially stronger on the B. & O. lease of terminals in
Chicago, the rental paid by the B. & O. not being known.
Railroad and Miscellaneous Stoclis.—Early in the week
was some active selling of stocks, particularly of the
which carried prices down for a time, but this was
afterward followed by a decided recovery, and to-day the
orpins
64,931 000
L)ans and dlsc'ts 408,604 900 Ino
tone was steady in the afternoon after a weak feeling in the
Oircolation
5,.574 800 Inc
morning. The outlook in the immediate future seems to
Vat deposits
422,321 SOOInc
be excellent, especially for the trunk lines, which must
Specie
87,970, 800|Inc
Legal tenders
have a more pressing business now as navigation closes.
30,932, 400 Inc
So little new corn has yet moved that it is possible in Chicago
Beserve held.... 118,903, 200 Ine
Legal reserve
to force the price up by a " corner" for November deUvery,
10i,580, 450 Ino
in carrying the large crop of 1891 the roads will
and
Surplus reserve
13,322,750 Ino .3,870,80ol
89,750,
The general talk against the
1,485,200 have a twelve months' business.
coal stocks has given way to better views, and the assurance of
Foreign Excliange.—Rates for sterling bills have been
an immense distribution of anthracite coal this year, together
nrm during most of the week and to-day were steady.
Tlie with Reading's good exhibit for October, have strengthened
supply of cotton and grain bills is fair, and the
foreign
the feeling as to the coal road stocks.
mgs in our securities vary from day to day according todealthe
Erie has been tolerably active, selling above 30 on the declatemper of the diflferent markets. Gold imports
since
tbe excellent
amount to about $25,100,000, and more gold is being Sept 13 ration of 3 per cent on the preferred stock and
shipped showing by the annual report. Atchison stock and income
steadily from Europe. Actual rates for
exchange are Bank- bonds will probably be influenced very much by the monthly
4^^@481; demand, 483^(^484; reports of net earnings during the next few months. It was
Z>\TimJJdfuii^'
in November last year that the net earnings began to show so
The following were the rates of domestic exchange
ought to show relork at the undermentioned cities to-day: Savannah, on New poorly, and hence the comparison this year
buvine
markably well from that month forward. Chicago Gas sold
par, selling, % premium; New Orleans,
commercial, $1 50 off to-day on considerable transactions, opening at G3 and
Oipltal
$
69,372, 700
•
j
there
coalers,
60,572,700 61,062,700
62,213,100 56,650,100
.55 400 387,297.200 395,219,000
38, 400
3,568,700
4,080,200
6.402,.400 381,6M5,000 400,456,000
3,934, 600 73,191,200 7.'>,496,10O
1,286,1600| 22,319,S00! 26,103,100
6,321, 200 95,511,000 101,599,200
l,-350, 600 95,421,250 100,114,000
:
dwcount; bank, 50c. per $1,000 discount: Charleston,
buying
parcelling 1^ premium; St. Louis, par; Chicago, 35o. per
'^
f 1,000 premium.
closing at 61
;
but
it is
a difficult stock for the average buyer
Sugar has been very dull. Silver
to make any calculation on.
certificates close at 94^.
NOYEMBEB
THE CHRONKJLE.
38, 1801.1
NEW TURK STUCK BXCIIANaB— AOriTff
3T001C8 Mr wetk matng NOV. ar, and Hnot JAS.
HIQHJiaT kJXD LOWB8T
STOCKS.
Active Hit. Ntocks.
AtolilBoii Toit,
Alhnitlc
&
Hmita Fe..
iV
rucltto
(*:in:i(liuil I'ikrltlt^.
itlii
C,
:
('
ti;vl
Stmthcrn......
of Now Jersey
Panino
litnil
A O.. vot. tr. oert.
C'hcc siiiieake
Do
Do
do
do
Monday,
Baturduy,
Nov. 21.
l8t pref
2d prot
OUoai^o
&
OhloaKO
& Eastern Illinois..
Alton
Nov. 23.
43 >s
4%
43Ts
87Hi
87%
»>«
43% 44
4% 4%
87!>8
»T>a
ai3»
6,)T8 61 >*
61
112 1)3
113>9lI4
•31
32
32
32
21I4 24 !«
24% 24°8
56% S6% 66'» 57
•37
3-18 37»«
39
133 130
135 140
Tuesda:
sday,
Nov, 24.
.
43% 43%
*4i8
114
114>4
-31
2418
OhlOHKO Milwaukee <b
pref.
St. Paul.
Do
Chicago
pref
A,
Do
Northwestern
pref.
OhloaKO Rock Island* Paclflo.
OhloaKO St. Paul Minn. & Om.
Do
pref.
Olevo. Clnoin, Ohio.
Do
A St. L.
.
•65 4
•04
7«i4
32
24%
50% 56%
•361a 3818
'134
138
76''8
llOVj 119%
117»8 1171s
139>4 139''8
Si^a 85
35
353^
06
71
97
71%
pref.
<tTol.
Do
pref.
64%
64''8
64%
I24I4 124^8 1241a
-9518
96
96
77'9 78%
7718
6514
64''8
124% 124
97
78I4
9518
771a
23
22 19
New Alb. A Chicago.. 21IS8 22% 22
Manhattan Elevated, consol.. 10119101% lOlielOlig 101
21
Mexican Central
Michigan Central
1071s 107% 1071a 107 1» 1071a
75
"71
71
82
82
Milwaukee Lake Sh. A West..
110
110iall2
Do
pref. 1091a 112
Loulsv.
Minneapolis
Do
A St.
7
Louts
714
15ifl
1614
Mo. K.& Tex., ex 2d m. bends
Do
pref.
.„
•15%
16%
MobileAOhio
411a 43
pref.
25^8
eO's
Missouri Paclflo
HasUv.Chattaiiooj-'aASt.Lonls
85
26
61i«
90
New York (Centra! & Hudson 115 1151a
New York Chic. A St. Louis
20% 21
Do
791a 79%
Istpref
Do
43
44%
2d pref.
New York Lake Erie & West'n 29% 3014
Do
68 la 69
pref.
38I4 381a
New York A New England
New Y'ork New Hav. & Hart. 225 230
New York Ontario A Western 18% 19%
914
918
New Y'ork Susquehan. A West.
Do
361a 371a
pref.
leig I718
Norfolk A Western
4914 49 "4
Do
pref.
„
.
.
Northern Paolflc
„,
Do
.
pref.
Ohio A Mississippi
Ohio Southern
Oregon R'y A Navigation Co.
OrcKon Sh. Liro&Utah North
Deca'urA
Peoria
Evansville.
A Read., vot, trust, cert.
Pittsburg Clnn. Chic. A St. L.
Do
pref.
^
Pltte. A West pref. tr. certs
Phila.
Do
Do
pref.
Boino Watertown AOgdensb
Bt. Louis Alton A T. H., pref.
8t. Louis Southwestern
_ Do
A Dnloth
Do
_
Paul Minn.
Toledo
Toledo
pref.
Co
N. Mich.
A Ohio Central
Union Paclflo
Unlcm Paclflo Denver
Wabash
A
Gulf.
„
Wheeling A Lake Erie
l>o
„
Wisconsin Central Co
I
Siocka.
Aiuiiiian Cotton Oil Co
Do
Am. Sugar Eef.Co.,toiup.
pref.,
1,1;; J.
E(li-(in
9
36
16
51
9
371a
45
117
112
101
118
112
102
*9ia
22% 23
SOifl
80
'225
19%
9ia
371a
50i8
OOia
19
80
17
75
70
38
16
171a
8OI4
441s
44
30%
70%
3818
230
9%
I718
51I4
26% 26I9
71% 71%
20%
20%
19
80
25
•17
19
*75
25
80
25
•63
•33
65
36
63
24
241a
3812
28I4
19% 20
38%
28I4
19% 20% 191a 201* 19% 20%
39% 38% 39%
37% 3814 37%
28I4 28%
27 12 271a
27
2812
62
64
63
34
63
36
11%
511a
i^l25
8I4
81a
IOI4
10
8I4
10% III4
48% 49
42
43
73% 73%
112ii
112
125
b
37%
20 1«
17
74
n
o
201a
711s
10%
Ills
49
43
74
8ii
temp,
Cordage Co
pref.
84
I
i
'43
80
76 14
18
18
3OI4
30%
29% 3OI4
65% 56%
88% e9>4
14
99%
5614
89%
9678
62
35^8
OO^B
59
'95
93
921a 94
98
98
561s
16% 16%
961s
6lia
.58 '8
59
58
Pullman Palace Car Co
178
.
1818
18
96 >a
021a
35% 35%
0!i% 99%
5S% 6(l»
95% 95%
93% 91%
08% 98%
16 14 16%
17% 18ie
3C'8
pref.
84
36%
171a
37%
Western Union Telegraph
44
•80
18
171a
13^4
22
24
37 Hi
59I4
180
17%
29>8
551a
8818
95
•8
15% 16%
42% 43
99
12% 12%
•17% 18%
•42% 44
•80
18
"18
821g
82
These are the prices bid and aaked iio sale
;
82
made
19
5518
5514
66I4
55
89
95
89
95
89
95
62 %
36
5914
23
38%
59%
177
em
•35
18
95
60
35
98
161a
95
92% 03
05
05 ^
93%
90%
16%
98% 99%
1«% 16%
17% 17%
34
38% 39
88% 58%
178
73% Sept. 31
178
81%
k Prices from both Bzalt»ii(es.
315 12% Jan.
233 48 Jan.
28 Jan.
143 1105% July31 114% Apr. 18
120 Jan. 6|122%jan. 8
6 June It 10 Oct. 20
1,223 12 Aug. 4 19% Oct. 21
5.610 24 Jan. 15 43 Nov. 27
242 85 Jan. 5,100 Nov. 23
140 100 Jan. 2 115% Oct. 36
150 23 Jan. 16, 44% Sept. 28
1,.'J79
11% July 27' 16% -Sept 81
400 13 June 30 21 Sept 21
46 Apr. 6 61 Jan. IS
78 June 8 98 Feb. 16
30,972 32% Aug. II 52% Apr. 28
975 14 Aug. 11 34% Jan. 14
828
8% Mar. 10 16 Sept 18
9,270 16% Jan. 2 34% t<ept 21
6.810 29% July 30 39% Sept 83
5,781 67% Jan. 2 80 Sept 21
July 30 23% Jan. 14
230! 16
1,000,
I
"
7.117 15%
3.519 33%
12.460 57%
220 a)
67,645 34
Feb.
Jan.
700 27% July
1.643
20,1.'«0
13,780
3,452
7,115
6,009
Jan.
73% Mar.
97
x
Ki
dly.
—
30% Nov. 21
56% Nov. 33
93%8ept31
27: 98
Sept 31
2 62% Nov. 23
30 39% Mar. 16
92% July 3 101
41% Fob. 16 60
855 88
•
Jan. 2
Jan. 2:
Jan. 17,
Nov.
14% July
11% Jan.
•21% 23
30 15% Jan.
88% 39% 8.405 31% Jan.
57% 68'( 144.000 61% Aug.
813 172 Nov.
178 178
94% 95 185.000 94>« Nov.
33% 39% 4,400 24% July
•90 100
80 Jan.
•<2%
l.ii.Hl
76 .liin.
82
17% 13
"22
96
62
35%
99% 99%
67% 59%
99% 99%
58%
6718
9518
93.8
66
88% 89
176
178
94% 04% 06
91% 94''e 94% 94% 94%
39 14 39% 39% 30%
3918 39%
39
39'8
•00 lOo
•90
100
90 100 90 100
82i«l
82
821.
82I3
18%|
13% 13%
27% 28%
36% 36%
76
76%
1
29% 30
16% 16%
17% 17%
.
84
41% 42%'
29% 30
95 la 9518
921a 94
971a 98
177
101
111% 113%
29%
36
•99I8 100
5313
8%
18
61% 62%
23
37
65
36
19
•33
58%
101% 83,641
70
41% Jan.
06
8.\
83 Jan.
111% 112%
4078
13
24
Iron
44
84
-80
Seig
76>8
41%
040
110
101
125
43
210
5,954
28% Oct 23
68% Sept 22
43% Aug. 26
10% 11% 15,255 10% July 27 19% Feb. 7
48
47
1,485 43 Nov. 27 76% Feb. 10
•42
43
23 J;>n. 2 44 May 1
73% 73%
110 55% Jan. 2 7S%8eptl8
^
.
81a
41% 40% 4114 4114 41%
1918
13
18% 18
131a 14
13% 13% •13i8 14
27% 28
28% 28%
27^8 28%
36'«
35% 3614 35% 36%
36
76 14 77%
76
76% 76?4 76%
41
17 '8
•21
371a
Silver lUilllon Cenitlcates
44
84
43
11,615
i,«:m
24% Mar 10 47%B«pt.n
4% Aug. 6 7 Aug. ai
72>4JaD. 6 Bl R«pt. !•
47% July 30 61% Oct. 23
105 '4 J one 29 122% Apr. 38
29 Keh. 24 34% Oct. 6
14% July 80 88 Sept. 36
42 Juir 29 60% Sent 31
22 July 81 41 Oct 5
123 May 12 139% Oct. 80
102% Nov. 38
75\Mar.
138
62
111% 1121a
•8'4
36^
93.%
134
•83
125
8
57
27% 28%
631a
49
•42
•73
24^
45,145
100
9%
10
201a
3018
BkrhMi^
U
U
28% 28%
'79
Lowwt.
103% Sept. 31
69,835 50% Jan.
76% Nov. 81
llt<%liei8
3,964 105% Jan.
122 Sept. 31
116% 117% 10,433 102% Mar.
117% Ooi 36
140 140
1,110 130 Mar. 18 140 Nov. 88
83% 84% 48.388 63% Mar.
87% Sept. 31
36
36% 10,281 21 July 30 37% Nov. 84
99
99
440 77% Jan. 29 09 Nov. 38
70% 71
7,082 86% July 30 74%a«pt.31
97% 97%
350 90 July 27 98 Jan. 9
28% 28% 3,060 22 July 31 34% Sept. 28
Xl23%124
12.983 118% Nov. 16 141% Sept 5
137% 138% 135,078 130% July 27 r45%8«pt.21
400 13% July 30 21 Oct. 8
'42% "42%
300 40 July 30 63% Jan.
5% 6%
210 5
July 30
8% Jan.
35 46
42 July 20 66 Jan. 14
11% 13
700
July 30 19% Jan. 14
0%
117 120
100 111% Feb. 8 129 Apr. 3
111 112%
510 72 Jan. 2 112 Nov. 24
102 102
1,270 90 Mar. 9 104% Oct. 21
10%
6 Aug. 10 12 Sept. 19
28% 28%
603 20 Jan. 3 33% Sept. 21
20% 20% 3,455 12% July 31 24% Oct. 5
65% 66% 5,371 53 July 81 69>4 Sept. 21
124 124%
6
7,753 xl05%Jne30 126% Oct.
•95% 97
150 86 Jan. 3 99% Sept. 15
77% 78
20,553 65% Aug. 14 82% May 1
23% 23% 1,900 13 Mar. 9 29% Apr. 27
102 103%
1,075 95 July 30 109 Apr. 3
21
21% 1,200 17% July 29 25% Sept. 19
106 106
946 87% July 30 107% Oct. 30
•72
82
70 May 21 93 Jan. 15
110 111
327 98% May 19 llSMSept. 21
,0
9% 6.495 8% Aug. 3 9% Nov. a»
t»
9
20% 7,040 7% July 30 20111 Nov. 25
17
17
905 11% Mar. 14 20 Sept. 18
26% 26% 2,851 19% Mar. 6. 29% Sept. 17
60% 60% 17,185 54% Oct. 2 77% Sept. 21
20 26 Jan. 2 46 Sept. 21
"id" "is
600 79% Aug. 17 110 May 29
113% 115
15,099 98% July 28 115% Nov. 21
20% 20% 1.375 11% Aug. 7 22% Oct. 13
79% 79% 1,590 57 Jan. 2 84 Oct. 10
44% 44% 2,400 23 Jan. 2 47% Oct. 14
29% 30% 108,445 17% July 31 31% Cot 7
69% 70% 7.748 47% June 29 72% Sept. 16
38
39% 8,585 31 July 30 43 Sept 21
225% 225%
11 224% Nov. 7 271
Fe^.
8
19% 20% 30,895 14 July 30 23% Sept. 17
9% 9%
700
July 30 ll%Sept.30
6%
•37
33
2,110 25 Aug. 4 41% Sept. 30
1*16
17%
13 Aug. 17 18% Oct 5
'50% 51%
323 46% Aug. « 67% Jan. 14
26
26% 4,311 20% Jnly 30 30% Sept 22
71
72
36.891 58% July 31 78% Sept 21
21% 22
2,440 15% Mar. 11 26% Sept 18
•17
19
14 Jan. 2 20%eept21
•75
80
65 Mar.
82 Jan. 12
23% 23%
657 19 Jan.
30 Apr. 28
20
20% 2,633 14% Jan.
24%Bept24
38% 39% 82,060 25% Aug.
48% Sept 21
13
20
31
Week,
Sbaru.
78% 76%
6>8
•35
11
11414
31
34
87
•94
16
42
•51s
114%
66
137% 138%
15
88
36I4
SH
139
101% 102
6H 70
03 >s 95
17
20
National I.<Md Trust
North American Co
Oregon lingirovement Co
PacilicMail
Pipe Line CertlHcatcs^
Do
9
36
16
21
19
55%
trust rec'ts
j)o
A
9
37
17
51
201a
8919
•9513
6II4
35'8
lias Co
attio Fced'gCo
Tennessee C<ial
80
44
71%
20%
ctts.
ctfs.i
(iencral Electric
Naliiinal
80
43
30% 29''8 30%
68% 70% e9ia 70ie
38 14 38%
38
38%
225 230
225 230
1918 19%
191* 19%
701a
201a
pref.l
.:a
Dist,:
80
4514
71
27^ 28%
pref.
pref.l
YIUi-4*llaii4>i»iiM
('o.,
4413
2978
26% 26%
•80
I
I)n
79%
71''8
431a 45
pref.
Do
CI
•37
133
I
Ann Arbor A
C
24% 24%
56% 66%
42
48%
8%
60% 61
61>t
114>8
SII4
I6I4
16
16
15% 1618
16
38I3 41
4218
41% 42% 42
41
42
100 101 14 100 101 14
100
991a 9913 100
112 1131a lllia llSia
11218 112'a '112 111
39I4
*39ia 41
3914 39 14
12% 12% 1218 12% 12% 121a I214 121a
18
18
171a I8I4 18
1814
18
18
pref.
Do
„
01
4m
26%
8
A Manitoba...
Soutlicrn Pacific
Texas & Pacific
•4%
21%
26I4
125
8t Paul
St.
•87
100 lom
22
22
107 i» •I0714IO8
82
72
82
112
109 112
7ia
9
918
81a
8'8
8
18% lO'e 20
161a I8I2
201a
"16
I6I4 16
15''8 16
16%
26
26
26
2618
26% 26
6OI2 61
60% 6II4 60% 61
•39
•41
41
41
41
87i« 89
'86
•86
90
90
II4I4II514 114>all5
114% 114%
2014 20>4
20% 20%
21
21
10% 11
481a 4914
^12
43
43
42
7314 73I4
21a 731a
112i4H2i4^112 1121a
Klo Grande Western
„
23%
71
11
51
pref.
43
87%
101
2612
.
RichnjondAWestP'tTerininal
4STs
<>5
64'8
05%
I2414 124ie 12419
9518 •S)5ia 97
78
77% 7818
25''8
78
Not. 26.
43%
3II4
IMl.
MiM U IML
I,
Of tbx
KrtUay.
Nov. 27.
8718
114
of
Hauso
Thunday,
7m
28
28
CohimluianocklnKVal.
123 1« 123=8
Delaware .<; Iluilxon
Delaware I. iickawnnna <t West 13719 137''8 135% 137% 136i«138%
-15
-16
I6I9
17
16
17
Denver* Ulo Grande
•12
44 1« •43
43 1«
44
Do
pref. •43
•6
•6
6
7
7
6
East Tennessee Va. die Ga
38 45 •35 44
46
Do
Ist pref. •38
*11
•Ilia 13
III4 12
13
Do
2(1 pref.
119 119
Evansvllle A Tcrre Haute
112 112
111 111
Great Northern, pref
'110>s 113
102 102
101% 10218 10218 I02ie
niinoi« Central
'914 10
•Ola I0I3
•Ola 10
Iowa Coutnil
•27
30
2618 27I8
28
28
Do
pref.
20-%
20% 201a 20
20% 20
Lake Erie & Western
Lake Shore A Mich. Southern,
LonK Inland
LouisvUleA Nashvlllo
Wmiuesday,
Nov. 26.
10218 101 14 102
•65
70
70
•94
96
96
7618
7618
76
76%
7614 76%
119% 1191s 119 119% II914 119%
117 117% 117iell7i8 11718 117%
140 140
140 140
1391s 140
84i8 84%
84
8516
84^ 84%
35H 36% 361* 37i« 3618 37i«
9818 99
99
06
99
99
71
71% 70% 1\H 7II4
0618 9618
97
97
29
28% 28% 2818 28%
23
122 12314 12314 125
1241s 125 14
•65
•94
70
90
PBIOM
B
87% 87%
tim 61%
OUcaKo Biirliiigton A Qiilncy. 100% 101 >« 101
Do
785
3 111
Oct 36
Nov. 23
Feb.
5
May 37
9 110% May 7
2S 21% Jan. 17
1 1
104
21%Oet
7i
32% May
5
1
20 41% Feb. 36
7 81
Fetk 10
12 196% Jan. 14
5 107% Jan. 14
30 4l%0«t IS
6 00 Sept 31
>'5%Heptl9
•.'
THE CHRONICLE.
786
NEW YORK STOCK
EX.CHA.N(JE
Xor.
Inactive stocks
Bid.
U Indicates unlisted.
27.
PRICES (Caatlnnel)— r.VACr/P'S ST00K3.
Jiani/e ^sales) in
Ask.
TOO
100 160
170
92
150
IT
&
&
140
May
Soutb Carolina
lO.^ij
Feb.
Apr.
30
43>8 Sept.
8l>« Aug.
40
14
Toledo Peoria & WesternU
Toledo St. Louis & K. CltyH
Virginia Midland
SECURITIES.
Stamped 4s
Missouri— Fund
New York
100
150
123
Mar.
8 '4 Sept.
Oct.
275b Sept.
17%
86^ Apr.
8% Jan.
12% Oct.
413 Aug.
96
16
May
6
Aug.
Feb.
13% Nov.
301a Jan.
63
18
85
Jan.
Jan.
Jan.
IO913 Apr.
40 Jan.
5>s Aug.
1 48i« Mar.
110 Mar.
22 Apr.
11%
Oct.
Nov.
153
100 144 148 134 Oct.
43
45
100 !117
113 Jan.
100 ; 801*
Am. Telegrapb & Cable
7812 June
American Tobacco Co., pret ..100
98
961a Oct.
100
Brunswick Company
9 June
Chic June. Ry. & Stock Yards. 100
69 June
100
Preferred
81 July
100 80
Citizens' Gas of Brooklyn
82
7715 June
100
Columbus & Hocking Coal
14 July
100 i41ia 142 103i« Jan.
Com mcrcial Cable
100 26
Consol. Coal of Maryland
30
23 1« Mar.
100 18% igij 12 July
Laclede Gas
100
Do
pret
40 May
Wilkes.
16
Lehigb &
CoalTl
20
16 Mar.
100
21
Maryland Coal
21
15 Jan.
Minnesota Iron
100 75
68 May
100 21
National Linseed Oil Co
25
ISkOct.
100
National Starch Mtg. Co
22 Oct.
100 : 12
New Central Coal
912 July
Ontario Silver Mining
100 391s 40 "a 38 Aug.
Pennsylvania Coal
50 250
!S0
260 May
P. LorlUard Co. pref
100 ;104
104 Nov.
Phlla. Natural Gas
50
23 Fell.
Postal Telegraph— CableU
33
35
34 Jan
Quicksilver Mining
100
4
5
3% Oct.
Preferred
100 21
22
20 Nov.
100
Texas Pacific Land Trust
14 Mar.
100 42
47
U. 8. Express
40 Nov.
Wells, Fargo Express
100 140 145 137 Jan.
City
15
190
10
89
Bank Statement
We
Bid.
Oanum.
(00< omitted.)
Bnkot New York...
ICanbattan Co
Herchants*
MecliaDics*
America.
Phenix
City...-.
Tradesmen's
Obemical
UerchantB' tlxchiuige
Gallatin National.
..
Batchers* & I>rover8'.
Mechanics' <& Trmlore
Green-wich
Xeatuel Manufactrs
Beventh Natiuiial
New
State of
York....
American Exchange..
Oomnierca
Broadway,
UercautiJe
Paoiflc
,
BepabUc
Ohath^im
Peoples'
North America.
Eanover
trying
Citizens'
„
,
&
Fnlton...
St. Nicljolan
I^ailicr
Com Kxclianxe
Oontineutnl
'
Orlent-al
Importers'
<ft
Traders
Park
Kast River
Fourth National....;.
Central NatioiiMl
SecODd National
.
Rhath National...
?LrBtNaii.inal...
bird Natlouitl
K. Y. Nat'l Kxchanire
Bowery
"
York Countr.'II
GhjnuaE. A mertcah
Ob»be N^:tional
Avenue
German
Feb'
Feb.
8212 Apr.
101 la Mar.
21 Jan.
80
86
92
Mar.
July
Mar.
1938 Jan.
Nov,
142
28i4 0ct.
211a Sept
60 Jan.
16
Mar.
2312 Sept
83 OctL
42^ Jan.
Nov
34
13
Sept
Jan.
44
290
May
Nov
104
24
39
May
Feb.
e'^a -Ian.
40
Feb.
19'8 Apr.
Jan.
70
145
Feb.
Bid.
Ask.
Chatham
'"
'.'/,'
Kxchange'.*"
Germanla
United States
Lincoln
"
earfleld
Fifth National...""
Bank of the Motrop.
West Side
Seaboard
euth NaUenal..,""
Wentem National...
tiMt Matloual,B'kiyii
T»l»l
9
c
2.000,0
2.050.0
2,000,0
2,000.0
3,000,0
1,000,0
1,000,0
750,0
300,0
600,0
1,000.0
300.0
400,0
200,0
600,0
300,0
1,200,0
6,000,0
6,000.0
1,000,0
1,000,0
432,7
1,800,0
480,0
200,0
700,0
1,000,0
600,0
600,0
BOO.O
780,0
600,0
600,0
1,000,0
1,000.0
300,0
1,8P6,7
1,538.2
P49,5
1,971,4
2,050,3
445.2
2,484,1
121,2
6,673,6
154,0
l,5Pb,8
301,9
l,60fi,f.
8,231,1
2,728,8
142.5
2.000.(1
'250,0
•
11,750,0
10,482,0
6.973,0
8,eB.'>.0
15,0^8.0
4.679.0
9,4:;o,8
l.H(i9,9
70,2
505,7
2,109,9
22.491.0
3,110,9
6,315.0
1,629.9
2,130,0
1,175,0
2,971,3
1,383.8
3,311.8
1H,345.0
3,331,11
19,'.'.12,(1
1,63S,3
6.796.5
8.182.5
2,881,5
10.B86.4
5.936.1
414,-.;
149,0
667,0
1,020,";
43«,3
9SS,'-'
834,4
331,3
675.6
1,093,3
312,0
484.7
244,9
778.7
112,9
263.8
1,188,2
•i82,6
408.1
3,200,0
2,000,0
l,7:i8,0
;<oo,o
408,:
750.0
600,0
2711,3
6,800.l>
1,000,0
S00,0
82,7
160,5
260,0
200,0
760,0
600,0
100,0
200,0
200,0
800,0
800,0
300,0
150,0
300,0
200.0
600.0
200,0
2,100.0
300,0
490.5
649,6
679,-,i
277,1
1,038,9
8U0,2
616.9
603.3
630.5
386,0
301,4
638,7
242,0
183,8
350,8
800,7
•^,(08.9
4,88'».l
16.068,1
3.136.0
2.f07,2
2,833.8
New fork
week ending Nov.
all eases.
Srtcte.
Ltjala.
s
C
,030,0
3,707,!
287,3
7,302,6
.44.1,0
130,2
14,381.9
4,542.0
11,618 9
„1,734,3
,6114,2
24,7.54.1
740,8
408,7
216,3
108,5
255.0
4,101.8
4,303,2
1,841,7
2,30,50
1.1'7.5
2.493,4
1,4A4,3
2,633,4
13,S9m.O
14,867.4
4.968,8
8.823 2
3.702,4
116',4 5
6.2>i.'-,
2
3,366.5
4,147 9
16.24B.0
3,093.0
1,034,7
385,8
3!»0,0
18J.9
637.5
278,7
02
102.9
45T,fl
.'iOa.d
.H,038,2
,893,1
1,862,6
44^,7
217.3
637,0
433,9
1,803,(1
,160,6
1,120,3
336,7
937,0
561, S
4.2 89,(1
4522
635,7
667,9
199,3
160,9
3:4.5
471, b
200,8
314,0
235.0
32
5>8,8
128.1
807.0
7,lil,l
4.81S.7
].9M),1
22.997,0
20,978,9
1.154,2
18,990,8
6.735,0
4,eo8.o
2,663,6
22,984.8
3,512.2
l.lSB.l
1.3
1,277,
i
12'2,9
6,93.1,0
4 905,7
156,3
4.427,3
1,751,0
l,2i(,0
933,1
5,i09,0
2.".8,9
128
7
6li»,li
2,884,3
2,678,8
11,125,0
4,756,1
2,811,4
2,Vil,h
720,0
413,9
2.303,8
4.713,1
4.44 6.7
1,546,5
1,025,0
633,0
31P,3
900,5
1,837,9
16<^,8
19 .3
I
2,t'07,0
4,(1118,3
640,0
191,1
643,0
888.9
539.0
2,79 l.'o
1,923,6
3,3h.5,2
Oepoiiti.
2,170,0
1,916.0
1,765,4
1,212,0
2,330.6
751,0
4,I)P6,3
l,4f,0.0
2,6(i0,0
New
1,006,2
195,5
273,2
2,085,0
3,957,0
1,606,0
3f.6,0
8,43v:,«
1,319,4
8,778,0
854,0
962.0
17B,0
'i82,l
28'-',7
17'2,9
429,3
,421,0
,960,0
I1U.6
92li,3
S79.0
165.0
208,-1
708,3
488,9
161,2
195,0
162,1
79,5
864,5
'263,8
620,1
411.0
123 9
218.1
270,4
228,7
361,0
246,0
26 3,0
145,0
912,6
247,0
11,270,0
10.418,0
7,073.2
7.014.(1
3.:!83.6
2. 962 5
4,2.'7.3
2,018.4
3.670.0
6.212 6
5,660.8
1,971,6
25.726.0
24.038,1
1,059,6
19,596,3
7.534.0
5.530,0
3.1H4.7
2',85j,6
3,192,4
1,314,0
2,!U0,0
3,327.u
2,394,4
12 391,5
Yor U.'
,101
70k
x 40
|
715'
45
S^a
Boston and Philadelphia Banks:
dc
Loaiu.
I
Specie,
Devoiitt.i Ci'r.'i'n oteatinfm
tjtgait.
Oct.
24
"
Nov.
31
7
14
124,303,7 407,974,2 8.3,544,9 33,335.9 418.169.1 3,595.2 6S7, 083.3
124,30.1.7 111,190,2 81,953,0 29,23«.7 416.826.2 5,590.0 728,808.5
l'J4,303,7 40,3.549,5 84,036.2 29.645.8 418.9 19,4l5,r.3(i, I 791.100.2
'•
21
124,303,7 408,601,9 87,970,8 30,932,4 422,321,8, 5,574,8:712,807,7
"
Ronton
Nor.
"
14.
"
21
Phlln.-
Nov.
"
•
35,793,7
35,793,7
35,703,7
7.
14
21
"
28.910.0
28,233,0
28,679,0
97,868,0
97,088,0
96,147,('
We onM tioo ciphers
,lelplila,
6,143,0 129,2i17,7'4,137.0 113,78 8,0
6,777,3 130,33l.3;4,142.S 93.514,8
7,131,2 133,863,5 4,110,7 67,452,1
64,642,9 145.338.6 10,711.3
64,642,9 14.5.803,0 11,544,1
64,642,9 148,984,9 11,623,9
7.
in all that Jl jurat,
the item " due to other banfes."
98,414,0 3,196,0
9<,225.0 3.240,0
97.325.0 3.295,0
t laciallag, tor
70,4'23,9
07,058,1
70 422,8
llj3iaaaaa
FUlf
City Railroad Securities—Brokers' Quotations.
Atlantic Av., B'klyn.St'k.
aen. M.,5s, 10l;9...A&O 100
Sl'cker St. & i'ul. F. -Stk. 27
Istmort., 7s., IdOO-.JJtj' 110
Sridway & 7th.^v.— St'lc.. 195
1st mort., 58, 1904 . J&U 100
ildmort., 58, 1914...J&J 100
*24 100
S'way Ist, 5fl, gu
2nil 58, int. as rent., '05. 92
Srooklyo (Jity— Stock
165
Istmort., 5s, 1902,. J AJ 100
B'klyncnust'n 6s., 1908 lOH
j
Bkn.O'y&N'ii58,ia38 J&J; 103
Crosstown— Sl'k..I 130
istmort., 6.^,1922.M&N 115
3ent. Pk.N.A E.RlT.— Stk. 120
Oon.sols. 7s, 1902 ...JdkDI 113
.>ry Dk.K.B.A Bat'y— Slk. 123
lilt mort. 7a. 189.3.. J*dI 100
:eurral
Bank Stock
BANKS.
Bid.
i-menca
203
Vra. Eioh... 146
B'lwery
308
aroadway... 2'.'0
List
129
Chase
Jiiatham
ahomlcal
llIU
Oontinontal .
Oom Exch...
Deposit
Kast River..
Ilth Ward...
Fifth Ave....
fifth
Plrst
135
243
115
115
200
ffilKlith
ElgnthAv.— Scrip, 08, 1914 103
200
42d
&
42d
104
95
167
102
111)
105
140
117
n.i
117
130
103
St.
187
142
25i>
115
172
St.
F'ry-Stk. 240
Maud.* st.N.Av«. 37
Lit mort., 6.S, 1910.. U&S 110
2(1 .M„ lacoino,6s....J&J
49
Hoast.W.St.iSl'.F'y— stk. 200
1st mort., 78, 1894.. J&J 100
Niiuh Ave
Sai-nd Ave.— Stock
BANKS.
G-erman
Am.
Germania
180
ar'nd
Ist mort., 7s, 1893. A&T) 102
!li3
104
95
95
100
lat mort., 5a, 1909.
175
Sixth Ave.— stock
2 20
Third Ave.— Stock
1st .«., 53, 1937. .. JAJ 108
Twenty-third St.— Stock.. 230
102
Istmort. 78. 1-893. ..
MAN
310
400
320
BANKS.
New York...
1'22
125
350
N.Y. CoHUty. 650
N.Y.Nat.Ex.|130
Ninth
103
Bid.
German Ex. 330
132
99
210
Av.— Stock
114
•290
2000
300
2500
FlratN., 8. 1. HO
1 4th atroot.. 170
170
fourth
scrip
30
Gallatin
Qartlold
430
4400 4800
450 500
155
Dry Dock E. B'y & B.—
1(13
in
220
109
260
lOS
40
118
61
--•>•«
107
100
100
103
18S
230
|U1
1210
104
— Latest prices of bank stocks this week.
Ask.
120
Oolumbla
230
Oommerce... 184
no
208
149
313
Botchs'<&X>i'. ISO
Oeutral
City
Jitizwna'
»9,g72.7 64.931,0 408,e(4,fl'87 ,970,8
30,932.4 4i2:32r8
IllO
$
S
«
(
124,303,4 405,602.4 82,210.1 34,281.2 416,400,6 .V576.0 692,572,9
N.
3,0;3,8
8,499,0
5,004,0
3,897,7
1,961,0
4.672,7
1,363,0
8.5;9,9
3,854,0
|
|
6s, consolidated bonds
6s, consolidated, 2d series, rects,
6s. deferred, t'st rec'ts. stamped
Sumlut.
5,(170,5
S,5ii«.9
2,'23i,0
4,;'56,0
Virginia— 6s, old
City,
Vapxtnl
Banks.
62
1912
72
1913 104
1913
97
1913, 70
settlement, 68
5a
3s
7
7
99
97ia 100
1892-1898^
Comi romiso, 3-4-5-68
1910 97ifl
1919 121 125
6s
Rhode Island— 68, cou.. 1893-1894
•iU
South n.irolinn—fis. non-fund. 1888
for the
Imam
Tennessee— 68, old
Consolidated 48
omit two ciphers (00) in
SurpItM.
8.0. (cont.)— Brown consol. 6S.1893
30
10
20
4
4
RR
27.
SECURITIES.
Ask.
101
Special tax, Class 1
Bamks.
Plftli
Sept'
Septi
161a Sept)
Mar.
American Express
1893
102-2 New York— 68, loan
J&J
IO714 North Carolina— 6s, old
1900
Funding act
95
..1892-1898
New bonds, J. & J..
97
101
107
93
96
7
155
3
105
87
1894-1895 104
to 5
81, 1891, is as follows.
New
14
Apr
9%
.Tiin.
Adams Express
AmericinBank Note CoH
SECURITIES.
Ask.
Bid.
1906
Class B, 5s
1906
Class C, 4s
1906
Currency funding 4s
1920
Arkansas—6s,fund.Hol. 1 899-1900
do. Non-Holtord
7b, Arkansas Central RB
Louisiana—7s, cous
1914
(fe
3I2
Aug.
T'ei^ept.
May
Aug
Aug. 185
9
33
76
5 Feb.
2612 Jan.
55
Feb.
;
Alabama— Class A, 4
Shoe
165
rafscellancons Stocks.
NEW lORK STOCK EXCHANGE PRICES.—Sr^rS BONDS NOVEMBER
Nansan
Market
ntgheat.
Lowest.
Jan.
Oct.
15
in 1»91.
Jiaii'jc {sales!
Ask
100 165 ISO
100
100 29
31
100 76ie
7^4 "b
100
100 I614
&
&
Nov.
9
152
N^ov. 27.
Saratoga
Grand Island
St. Joseph
T. II
St. Louis Alton
San Fran, letpref
St. L.
Mil.
Indioates actu.nl salen.)
Bid.
Indicates unlisted.
May
Nov. 1671a
147
(t
Inactive Stocks.
Highest.
Lowest.
88
Atlanta &CliarlotteAir LTI....100
June
1135
BeUeville & Soutb. 111. pref....lOO 130
99 June
100 100 101
Boston & N. Y. Air Line pret
27J«
Apr.
30
100 25
Brooklyn Elcvatedr
100 AO'^ 4058 29 Jan.
Butralo Rocbester & Pitts
Jan.
79
74
100 78
Preferred
45
20 Apr.
30
100
Bnrl. Cedar Rapids & Nor
Sept.
22
13
100 14
California PatiflcTT
9
3\ Mar.
7
100
Cedar Falls & Minnesota
144
June
50 ;i46
Cleveland * PlttsburK
100
Columbia & Urcenville pf
4i8
Feb.
6
100
Ces Moin es & Fort Dodge
12 Feb.
20
100 12
Preferred
7
5 Apr.
100
Duliith 6. bore & Atlan.TI
IS"* 12
Sept.
100 12
Preferredll
lei" June
23
25
100
flint <& Pere Marquette
76I4 Oct.
80
100 75
Praferred
7
6 July
100
5
Georgia PaeiflcH
July
5
Green Eat Win. & St. Paul. ...100 lO^e 11
2i«
2 Jan.
3
Houston ATexas Central
100
90 July
Illinois Central leased lines
100 90
13
10 Sept
Kanawha & MicJiiKan
100 10
Feb.
1
Keokuk <S: Ues Moines
100
7 Jan
Preferred
100
25 Aug
IjOuIst. Evans. & St. Lo., cons. 100
55 Jan.
Preferred
100
5 Mar.
l/ouisv. 8t. Louij & Texas
100 16'8
70 «uly
Ilaboning Coal
501 75
101 Apr.
Preferred
112
50
Mempbis & Cbarleston
25
223t Oct.
Jan.
Mexican National
5
100
Morris <& Essex
50
137>s July
104 Jan.
H. Y. Lack. A Western
100
16 Mar.
S. Y. A Northern pret
15
100
17
Peoria it Eastern
llij
June
5
100
9
Pitts. Ft. Wayne <t Cbicago. . . . lOO ;i52
149 Jan
Plttaburg it Western
50
No price Friday latest price tbi* week
>
1891.
Rensselaer
B»iJroa<i Stocks.
Alabama & ViekburgU....,
Albany & Snsquebanna
{^"'-
330
Greenwich... 145
Hanovar
345
Hud.
Ira.
Illver.. 143
A Trad'8'
330
Irving.
Leather Mis' 24 (i
jLiucoln
37(1
Manliuttan... 178
iMarketi Ful 220
Mechanics'.. 185
M'chs'ATra'.
Morcanille... 220
Merchants'.. 14 5
Merch'ta Ex. 117
Metropolitan
7
Metropolis.. 350
Mt. Morris .. 25(1
.11.11 rray Hill. 300
Naaaan
Ask.
1(0
Bid. Alt.
2,15
181
225
193
210
125
9
...«•
140
113
Ward.. 150
N. America.. I6j
230
Oriouul
190
PaciUo
Park
293
293
Peoiile's
....M
122
Phenix
Produce Ex. 117
138
l>«th
360
153
645
1»0
260
2«~
ilepiiblio
jSecoud
Seventh
172
173
32,1
100
ihira
Tradesmen's. 98
Cnlt'dStateK 200
Weatoru
u..1.»
....
......
123
......
..-.......
123
Sho«<ftl.eath.|15J
St Nlfibol««.il26
State of N.Y. 109
W«.t
176
220
310
l!9
..toil
160
'
130
116
106
.
USi^i
_
1
November
THE CHRONICLE.
28, 18B1.J
I'HILiUELPHIA AND UlLTIVOBE STOCK EXCHANGES.
EF* Bhare Prtees — not Per OaBtam Pricaa.
Balaa
BD-SXaN,
Active Stockti
Bnturday,
Nov. 21.
U luiUcatea unlisted
Monday,
Tuesdar,
Nov. 34.
Nov. 23.
Fo fBot(oH). \00 433g iS^a 43I4 44
••
Pnc.
100
4\ 4\
Bftlttmon- & Ohio (JlattJ. 100 •ioi
i03
101>al01ii
"
let iirefcrred
100 *
130 •
131
2(1 iir^frrrod
"
100
Boston A AllmiiT Bo«(<m>. 100 202 20:>ii 2021a 203
"
Bostiiii A l,<iwrll
100 176 170
1761a 17flia
Bosi.iii A Muino
165 16')
"
100 1B5 100
Cyitrnlof Muss.
"
18
10
15
13
100
Prcrcripd
100'
"
80 *
36
Olilo.Iiur.AQiiln.
"
100 IOI lOlVi 101 1(>2
&
Ailsntlo A
Atcli. T.
A
76%
rrA«.;.10O
70!|i
Cliio. A W. Miih. (lioslon). 100
"514
'•
Cleve. A Cniiton
•s^s
100
•20
rroforrivl
"
21
100 •20
ntclil>urK'i)rpf.
"
100 73
75
"
ri. A Perc Marq.
100
"
Preferred
100
Hunt. A Hr. Top. (rhita ). 50
"
Proferreil
00 *
47>«
LeUiKU Valley
60>«
"
49^8
60 50
Muiiio Cfutral fBoslonJ .100
"21
Mexloiin Central
"
21
100 '21
K. Y. A N. Eng.
"
100 38'4 381s 3S58
Preferred
"
100 100 100
100
•
Nnrtlicrn CcDtraWBiJ«.J. 50
26V»
26>4
Horthern PuoiUo CPAi7a.;.100 26
Preferred
"
100 ,I2°» Ji"* 70's
Old Colony
1«3
163
fBos(o)U. 100 163
8t. P.
liFle.
"
50
50
P:iUa.AUe.adinK
"
!>0
Pi'nnKylvauia..
Pliiladel.
A
(Phila,).
54
8
iniscellanenns Stocks.
Bell Telephone..
Bost. A .>foutana
•
Butte A Boston..
"
"
3m
5418
33^8
193s 18i3i«
•3
8
8
89I4
97
100 201
25
401a
15
25
25 2521a
Erla Telephone rBo»fo>i;.100
Lanison Store Ser. "
50
S9is
97
204
27.
A Charlotte (Baff.). 100
A Providence (7Jo«(OH). 100
Bo.'ton
Canidctj AAtautiopf. (PAite.).
"
Catawissa
"
Ist preferred
50
50
50
"
2d preferred
50
ventral Ohio
(Ball.). 50
"
Chart. Col. A Augusta
100
ioiniecticut A Pass. (Boston). 100
"
Conuecllcut River...
100
Delaware ABouud Br. (P/nJn.). 100
"
Har.Ports.Mt.JoyAL.
30
Kan. C'y Ft.S.AMem. (Boston). 100
"
K.C'yFt. e. AGulfpf.
100
"
K. City Mem. A Birm.
100
Little Schuylkill
[Phila.). 60
Manchester A Law.. (Boston). 100
Mary liinul Central
(Ptall.) 50
Mine Hill AS. Haven (Phila.). 50
'*
NesqnehoiiingVal....
30
Northern N. H
(Boston). 100
North Pennsylvania. (Phila.). 50
Oregon Short line. ..CBostou;. 100
Paikerslmrg
(JSatt.) 50
PcuiiRylvania AN.W. (Phila.) 30
Kalel);h A Gaston
(Bo((.)100
Kulland
(Boston). 100
Preferred
100
Beaboard A Koanoke. (Ball.) 100
'•
1st jircf erred
100
,
West End
,(Boston). 50
Preferred
"
50
West Jersey
(Phila.). 50
West Jer.sey A Atlan.
"
50
Western Maryland..
(Bait.). 50
•'
Wilin. Col.A Aususta
100
"
Wilmiufrt'nA Wcldon
100
Wiscouain Central... (Bo«(on).100
PrefeiTcd
"
100
Worc'st.Nash.ARoch.
"
100
MIHCELLANEOCS.
(Boston). 23
Atlantic Mining
City Passenger
Bay State (ias
••
KR...
Boston Land
Centennial Mining...
Fort Wayne Kiectriclf
Franklin Mining
"
Hi. ion .Mining
Illinois steel H
"
Fn nchm'u'sBayL'Bd
25
(BaH.). 23
(Boston). 50
"
"
"
"
"
10
10
25
25
5
25
100'
Kearsarsfe Mining
"
25
Morns Canal guar. 4. (P/ii7a.).100
I'referred guar. 10
"
100;
Osceola -Mining
(Boston). 25,
Pewabie Mining
"
25
Pullman Palace Car..
"
100
Quincy Mining
Tamarack Mining
"
"
23
25
•'^oniii'nKle.-.Wi.i.iy.ii
•<
100
1 Unlisted,
i
101 14
76I4
45
75
30
25
25
40%
49'8
120
21
8
•V77
85
7014
76^
47
•
•
*5!%
•lOia
•73
•21
•47
•:91a
•119'a
2II4
38
100
8
8S"8
9618
89
89
9618
202
Ask.
26:>8
102
;
43
•511
20
•
74% 74%
75
LoWMt.
Bbare*.
100
Mar. 10
flft
Mnr.
Jan.
Jan.
Jan.
137
113
21%
n
f
9
Z
38
100
2()78
211*
39
100
•081a 70
26
261a
38
71
14
7178
541*
34%
•163
35
•
195,« 19»i
•5
41% 42
224
7»8
224
81a
88% 89
89
96
200
96i«
200%
371a 3^9
I413 14%
201
38>a
141s
•257
•59
'43
61
431s
•43%
43
18
48I3
J
50
1
:
1
;
18
49%
•98
8
48%
49>9
18
•
•
4838
481a
50
50
1708 1778
47% 48
2638
lOia
2638
261a
16%
X Ex dlT.
•1678
Ask.
Bid.
Inactive stoclcs.
31
n>iAiiK. 81
4 lot Oct.
<^
7 131 Apr. f
6 119
Apr.
205
J:>n.
IH34
2094
Ki-r>.
204
40
F>'li.
19
30
5
13
Jan. 19
Feb.
S
76%
Nov. 23
.Nov. 31
51
Jan.
102
»
74H«pt.l»
23
ti^pt.
83% Jan.
3»
ft
274Mpt.t»
860* Apr.
38 4 Sept. 3»
M
3
431a Mar. 20
921 457. jnnn 4 Ali«fleiit.l>
A'llK Nov. 12 146 FeK
6.175 I7i4Jiily 31 23 B«pt.I»
2,479 31 July 31 427||Bepll#
199 94 July Sl'llOUJao. fi
1
1.963
15,301
e3%Junel7j 71 An(. II
20>4July30 30% Sent. 31
58% July 31 7Hi4 8ept.ai
136 101
Nov.
4 16Si.Anr. 38
ll,594j 490b May 191 56
Oct.
62^1 24
Julv 30 35i4 0ct.
2»
12
41,217 1210, fAuR. 4 21i3,,8ept.2l
413 Keh. 51
74 Aug. 31
3,434 3214 Aue. 11 62% Apr. 28
106 222 Jiilv 31 230 Feb. 5
978 Sept. 18
322
e>4July 31
.3814 Jan. 17 9308 Septal
347 844 Mar. 11 97% Sept. sa1.060 173 Anir. 27 220 Jan. 1*
3,805| 371a Nov. 25 50 Sept. »
602 13 Nov. 7 20 Sept. 2
88 240 July 31 230 Mar. 31
4,010
49i4Jan. 27
Ang. 1
61
431a
47!NH<rpt.
02 102
8
73 1721a Jnne 12
1,272 137 July 10
12 15 Nov. 21
34 Nov. 16
0.600 757» Mor. 7
8,625 SI Jan. 2
80 41 Mar. 13
5 Mar. 14
10 17 Mnr. 14
802 60 >4 Auk. 14
IM Mar. 19
65 Jnly 30
"15 174 Jan.
47»a
49^8
HIgbaat.
244
40<1
131
118
303
162<s 1II4^
•13
10
•30
34
101 101%
757, 76ii
101% 102
8
16''8
fti?
177
177
1611a lO.'S
13
10
*7ia
261s
1678
4XTa Hi'/rm
203
26ia 261a
2H3» 2638
7118 71S6
7138 7108
164 164
1631a 164
5438 511a
5138 54>8
3414 34>4
18^8 190b 19i,s 19%
2638
43
*
70
•
31's
34-4
lyie
120
20'8 21 "s
•3778 381s
•98
100
38^8
a.
130
'
WMk,
Nov.
202
203
BancaofMtlaalnlMl.
of tha
Ttau radar,
Nov. 26.
-101
•128
•117
76!%
20
74% 75
88% 8318
96% 96%
200
Bid.
Inactive Stocks.
Anonez Mining
•
16
30
102
•SVl
CoaJANav ThU., 50
N.Ene.Telephoue^BoiC/MlOO
North American. (Phil. }.100
Thoinson-H'u El. .rBosfn> 25
26I4 26I4
"
Preferred
25
26
26
"
WeitKndLand..
16% 16^9 17
17
* Bid and asked prices; no sale was made.
Lelii'h
Prices of Son.
•15
45
163 'a
44
'
202 203
177 177
16lial65
20
2639
43<>ii
193 "1^202
198
40i«
40ia 41
38>a 39
371a
13
IS
15
141a 141a
141a
259
260 26218 2571a 260 •253
•59I4 61
•
-58
61 *
61
•43 1« 44
4;iia
-431a 44
431a 431a
•44
44
44
4414 4414 •44
44?t
18
I713
1713 17^ •
4Sia
48% 48% 48'a 4818 •48 "a 49
50
50 *
60 •
50
50
I8I4
)7''8 18
18
17% 17% 177a
•47I4 4714
47i« 47''e
48
481a 481a
"
CaUunot AUecla
Cant<>n Co
rB«".;.100
Consolidated Qas
"
100
Atlanta
130
•
46
71%
8ft.
4% «^ '4% ftlf
lOlialOm, •101% 108
7608
100
70
Not.
'4114
41
4t
41% 40% 4118 4l>4 41%
223<a223i« 2231a
224 224
224 224
WeatoraN.Y.APaCPAiVa.j.lOO
Am.9ui?'rRofln.1IfBo.'!(on>
"
Picfe.rren
54ie
•3338
lavt
Biimniit Branch CBosfon;. 50
Union Pacitlo
'•
100
United Cos.ofN.J.rPfti/a.JlOO
7618
WedoMday,
433g 431^
fl.
r
Ohio. Mil.
78T
333 42
10
48
129
37
1.975
424 Nov.
15
11
Mar. 30
624
Sept.
49
Jan. 14
I
50% Mar. 81
24
Jan.
9
444 July 31 304 Oct. 28
47% July 30 53 May 6
*
117, June 23 214 Oct.
1,396x38 '4 i-ng. 5 624 Sept. 31
632 2414 AUg. 14 264 Sept. 21
3301 14
Nov.
2
243^ Apr.
29
Bid.
Bonds,
1919. Var' 1124
208l.
1913, JAD 1064
90
12
13
Pa. A N. Y. Canal, 78... 1906, JADj 123
110
255
Consol. 5s
1939. AAOI
fonds-Boston,
1024
S.F.100-yr.4g..l»89. JAJ
25
30
SlOsI 8178 Perkiomcn, Ist ser., 5s. 1918,
9
100-ycar income 5 g., 19S9.Sept.
63% 64 PnUa.A Erie gen. M.5g., 1920, AAO' 1124
I1OOI4
1920, AAO
Gen. mort.,4g
Burl. A Mo. River Exempt 63, JAJ tll4 1II6
1918. JAJIJt
Non-exempt 6»
1108
Phila A Read, new 4 g.. i;)5S. JAJi 834 834
g,19.>S,
Feblj
1910,
t86
694
694
JAJ
lat
prcf.
Income,
Plain 4a
324
5
504 .307»
2d pref. income, 5 g, 1958, Feb. 1
10
Chic. Burl. A Nor. 1st 5,1926, AAO, 101 4' 102
Feb.
Ij
100»8
1958
364
37
1918,
JAD
pref.lncome,
3
1014 3d
2d niort. 68
g,
1S93, AAO 105
1896. JAD, 100 14
Debenture Os
2d, 78
.1922,
1911.
JAD
1304
4s.
FAA^
87
Cousol. mort. 78
162
Chic. Burl. A Quincy
1919, AAO
1911, IAD 118
90
Consol. mort. 6 g
Iowa Division 48
Improvement M. 6 g., 1897,AaO: 105
32
Chic.A W.Mich, gen. 5s, 1921, JAD| 93
Con. M.,3 g..stainpod.l922.MAN, 1004 101
Consol. of Vermont, 58.1913, JAJi
88
Phil. Wilm. A Bait., 4.S.1917, AAO
15
Current River, 1st, 5s..l927, AAOj{
67
Det. Lan3.ANor'nM.7e.l907,JAj|
1084 Pitts. C. A St. r... 78.... 1900. FA.\ 1154 ...—
Po'kccpsie Bridge, 6 g.iySO, FAA
514
Eastern Ist mort. 6 g., 1906, MAS 5120
107
Schuyl.R.E.Side.lstS g.l9:i."). JAD t
Irce.Elk.AM.V.,l8t,6s.l933,AAO, 5122
.1933,
AAo!$ 1 194
8tcuben.AInd.,lstm.,5a.l911,JA.Ii 104
Unstamped Ist, 69. .
674
1894, AAO lot
K.C.C.ASpring.,lst,5g.,19'.;3,AA0 5
United N. J., 6 g
33
Warren A Frank., l8t,78,1896,FAA' 10^4
K. C. F. S. A M. oon. 6e, 192S, .MAN 8104%
71
81
K.C.Mem. A Bir.,l9t,5s,1927, MAS
Bonds.— Baltimore. ,,,l
Atlanta ACharl.,~st 78, 1907, .'feJI 119 120
25
K.C.St. Jo. AC. B., 79.. 1907, JAJ (1184
24
ItiOO, AAO;
99 1001*
Income 63
L. Rock A Ft. 8., Ist, 78.. 1903. JAJ 5f90
47" Louls.,Ev.ASt.L.,lsl,6g.l926,AAO 51107
Baltimore A Ohlo4g., 19.i,>, AAO; 984 991*
1936, 4AO
Pitts. A Conn., 5 g. . 192.), FAA 10>4
2m., 2— 6 g
1925, AAO
Staton Island, 2d, 5 g. 1926. JiLI
Mar. U. A Out., 6s
1923, JAD
[Bal.AOhlo8.W..l8l,44g.l990,JAJ 1004 101«»
Exten. 68
68
Mexican Central, 4 k... 1911, JAJ 71
72 'CapeF.AYad..8er.A.,6g.l9lU. JAD lOO-a 101
1916. JAD 100%;
Series B.. 6g
36
Ist consol. incomes, 3 g, non-cam.
1916. J.tD 100 llOl
Series C, 6 g
744' 2d consol. Incomes, Ss, non-cnin.l 204 214
!»;«>, MAS 100
864 864 N. Y. A N.Eng,, let, 7b, 1905, JAJ, 119 [1194 Cent. Ohio. 44 g
1903, JAJ 1114'
Charl.Col.AAug. Ist 78.1895. JAJ 105 106
Istmort. tis
1902, FAA 1034 104
Ga.Car. ANor.lst5g..l929. JAJ 1UU4 101
21
2d mort. 69
1900, JAJ; 1114 lis
1034 North. Cent. 6»
12
13
2d mort., scaled, 3»... 1902. FAA;*
1901, J AJ
ii8>a
68
107
Ogden. A L. C.,Con.6».1920.AAOi!{il02
1926, JAJi 10:t4,109>*
1920
Series A, 5s
20
Inc. 68
130
1925, AAO 104
1909 MAN 108
448
18
184 Rutland, Ist, 68
1898,F4A
Oxf.AClark.,lnt.gu.,6 g.l937,MAN
2d, 6s
Picdin.A Cnm.,l9t, 5 g. 191 1, FAA ;!.""!io6"'
Sends.— Philadelihia
,,,
eny Val.,7 3 lOs, 18'J0, JAJ 111 1114' PitU.AConuolls. 1st 7a. 1898. JAJ 1134 1144
116%
Virginia Mid., Ist «s... 1906, MAS: 115
1% 2 Atlantic City Ist 53, g., lyi9,MA.V| 1014
1911 MAS 115
2d8erie9,6»
Belvidcro Del., l8t,68.. 1902, JAD, 112
10
11
1916.MAS
6s
FAA
117
3dScri08,
M.,
79
1900,
120
Catawlssa,
65
.61
1921. MAS
4tli Borles. 3-4-58
254 CUar.Cln.ichlc.l8t5g,1947,(i-Ji .
1926, MAS 10141034
8th Scries, 6«
64 Clearfield AJeff., Ist, (>s. 1927, JAJ, 118
1900-04. MASj
West Vo. C. * P. Ist. 6 g.l91 1. J.feJ 1074 108
114 124 Connecting. 6.H
1914, JAJ
Consol.
6
V.C.
g.
125
Wost'L
Br'k,lst,7s.l903,FAA
AB'd
Del.
12%
12
warn. CoL A Aug.. 6s.. 1910, JAD 117
EastonA Am. ]»tM.,3s.l920,MAN, 1074
15
MUCELLANKOOS.
AWilm.,lst,6.s.
JAJ.
1910,
Elmlr.
84 4
lis
Baltimore—City 11 all68.1900,Q—
84 Hunt. A Br'dTop,Cou.59.'95,AAO 10i4
1000, <i-J
Funding 6s
1914,
J 1084'
Lehigh Nav. 448
72
Weit .Maryl'd RB. 0S..100J, JAJ
1897, JAD 1124
2d 63, gold
12
11
133
1916, MAN 132
Water &s
Gencralniort. 448, g. 1924,0— F 100
1916, MA.V
Funding 5»
Lehigh Valley, Ist 68... 1898, JAD 1134
200.
JAJ
102
1U.«>.
103^
Rxcluinge
34'
MAS
134
1910,
il83
78
2d
29
28
1923, JAD f
1284 Virginia (Stttte) 39, new. 1932, JAJ 68% 69<t
Consol.
108
JAD
107
1900,
Uaa.Os
110
Chesapeake
MAN,
7b....1-'1)6.
l8t,
SorthPcnn.
177 179
1134
1910, JAD 113
Consol. Gas, 6s
1903, JAJ| 1284'
UeJi. M. 78
97% 9'<4
1939, JAJ
152'" isi"
fts
Pennsylvania gen. 6s, r..l9lO,Var, IjO il3l
\'.n.<. AAD
106M 107
....'
Bquitablo Qas. 6s
I9U3. Var'
O nsnl. >>». ••
Atd accrued Interest.!,
Thom.Europ.E.Wcldir (Boston) 100
"
100
Water Power
"
60
Westing. El. tr. rcc.U
Penna. Consol. 58, r
CoUat. Tr. 44g
I
Q—
.
.
i
,
44
.
!
!
'
O—
|
I
I
,
I
I
'
Last
price tins
week.
THE CHRONICLE.
788
NEW YORK STOCK EXCHANGE PRICES
I
RilUlOAB A«D MI8CEL. BONDS. InUr^'
(Coiitlnucd),-ACrZT^£'
BONDS NOV.
27,
AND SINCE
JAN.
OlMfng Range
Oto^nQ Range (tola) in 1891.
Railroad and Miscbl. Bokd8,
I
J^^ "io^e^,
[Vol. LiII.
mgKesl.
In/er'st Price
Period. Nov. 27
July
Oct.
Sash. Ch. A St.L.— Ist, 78.1913 J A J 126iab. 124
Sept.
Coa., 5 g
1928 A A O 103 a. 1021a Oct.
A N 101 b. 100 >« Nov.
16 Sept^
N.Y. Central— Extend., 59. 1893
1903 J A J 125iab. I2314 Aug.
75 Jan.
l8t,coupon,7s
69 July
106% 104 Oct.
Deben., 5s, coup., 1884.. 1904
lOS^s Apr. 1121a June
N.Y. A Harlem—78, reg... 1900 M A N 119 b. 11614 Nov.
10212 July 107% Oct.
89 July
N. Y. Chic. A St. L.— 4 g. 1937 A A O 94ie
951s Jan. 100 Feb.
1906 J A J ll2iab. 109 July
115 Jau. 118 Mar.
N. Y. Elevated— 78
119>aNov. 123 Mar.
N.T. Lack. A W.— l8t,68..1921 J A J 126 b. 125 July
1923 F A A I07ia 10713 Nov.
107 Jan. lilt's -May
Construction, 58
108 July 113 Jan.
N.Y.I..E.AW.— Ist,con.,7g.l920 M & 8 133iab. 132I11 Oct.
1893 J A D 106 b. 103 June
92 Aug. 99 May
Long Dock, 7s
Nov.
1935 A A O USSgb. 115 Ja
Consol., 6g
Am.Dock&Imp.,58....192lJ & J|'?8\ 105»3 July 108%
1969 J A Dil07i4
96 June
107% Aug. 112% Mar.
2dcou9ol.,6g
Central Paciflc-cfold, 68.. 1898 J &
}}S1*
IIOI9
Mar.
A 8 112 h. 110 Mar.
117%
AW.-l8t,6g..l914M
July
N.Y.
Ont.
Ches. & Ohio-Mort.,6 g.-iaij m
JnTv*
N;301i«
1939 J A DllOOia
Consol. 1st, 5g
90 June
941a May 1021a Oct.
&n
1939
l8tcon80l.,5 g
6513 July
73 Oct.
N,Y.8u8.AW.— I8tref.,5g.l937 J A jilOOMib. 94 Jan.
K.&A.Div,,l8tcon.,2-4g.l989 J & Jl 72
Mldlandof N.J., 6g....l910 A A O llSiab.lllia May
do 2d con., 4 g... 1989 J cfe Ji 73 b 64 July 75 Oct.
June
114
Juue
b,
Aug.
Norf.
F
&
A*104
A W.— 100-year, 5 g.l990 J A J 90 b. 8.8
102»a
1911
Ches. O. & So. W.— 6 g
117i« July I2414 Nov.
Nortb.Pac— l8t,coup.,6g.l921 J A J 1161a LIS J m.
Chic. Burl. & Q.— Con., 78. 1903 J & J 124 b.
A
111
A
O
b.
Apr.
g..l933
109
Aug.
6
May
95%
General,
2d,
coup.,
100
1021a
1913
Debenture, 58
General, 3d, coup., 6 g.. 1937 J A D 109 U. IO6I3 July
1922 F & A S8>sb. 86 Sept. 95 Jan.
Denver Division, 48
1989 J A D 821a
Consol. mort., 5 g
761a July
Nebraska Extension, 49.1927 M & N 86 b, 80 July 88% Jan.
Oct.
Chic. AN.P.— ist, 5g...l940'A A O 785e
761a July
Chic. & E. 111.— l8t,s.f.,68.1907 J & D 115%b. lOSfSs June '116
102%b.
S
!121
Jan.
AMon.—6g...l938lM
A
101
Nov.
North.
Sept.
A
&
O
120
b.
Pac.
1181a
1934
Cou6ol.,6g
North. Pac. Ter. Co.— 6 g.. 1933 J A J 106 b. 104 July
95 Jan. 100 Apr.
96
General cbnsol. l8t,59..1937 M
llOisb.
J
108
Oct.
A
J
95
Cons.8.f.,79.1898
July
&
N
b.
81
Apr.
OhioAMlss.95
14
Chicago & Erie— l8t, 4-5 g.l982
1898 J A J llOiab. 107 July
Consol., 78
1982 Oct'b'r 3858b. 26 June 42i4 0ot.
Income, 58
J
D
g...l921
A
110%b.
Sola
Apr.
lOliaJuly
Aug.
OhloSoutheru—
6
J
921a
l8t.
85
lBt,5g.l937
Chic. Gas L.
1921
A N 55 b. 55 J.u.
General mort., 4 g
J 125 k;b, 120 Jan. 126 Nov.
Chic.Mil.&St.P.- Con.7s.l905
Omaha A St. Louis— 4 g ..1937J A J 52>ab. 50 Ju e
J 1123eb. 108i« Aug. 113 Nov.
Ist, goutliwest Div., 68.1909
& J llSisb. 110 Jan. 116 Nov. Oregoulmp. Co.— I8t,6g.l910 J & D!l02i4b. 90 Ja.i.
lBt,8o. Mln. Div., 68.. -.1910
1939 A A Oj 63 b. 58 July
Consol., 5g
J 107 b. 104 Jan. 1071a Oct.
iBt.Ch.&Pao.W.Div., 58.1921
10514 Sept.
& .T 100% 94 Aug. 100% Nov. Ore.R.&Nav Co.— I6t,6g.l900 J A J]lu8
Chic. & Mo. Riv. Div., 58.1926
1925iJ AD, 91I4
106
Nov.
&
July
Consol.,
J 104 b. 100%
85 Aug.
5g
Wis. & Minn. Div., 5 g..l921
100 Mar. 1051a Nov.
102 July
& JilOS
Pa. Co.— 4iag., coupon. ...192i!J A J|106%
1914
Temiinal,5 g
87 Feb.
& J*34
81 la July
Peo. Deo.AEvansv.— 6g..l92o;J A J 10ii%b. 100 Jau.
Gen. M., 4 g., series A... 1989
107 1« Jan. 112 Feb,
A S*,101iab. 95 J in.
Evansville Div., 6g....l920
MUw.A North.—M.L., 68. 1910 & Diiia
1926, M A Nl 69
& DllS
107 Jan. 1121a Nov.
66 Jan.
2d mort., 5 e
1913
Ist, con.,68
Phila. A Read.— Gen.,4g.l958 J A Ji 8338
741a Aug.
Chic. &N.W.—C0U80I., 78. .1915 Q-F 13558b. 131l3Aug. 139% Apr.
69'4
1958 Feb.
ist pref. Income. 5 g
1902 J & Dll25'ab. 121 June 127% Feb.
471a Mar.
Coupon, gold, 78
1958! Feb.
51
111 July ill5 Feb.
O!
32 Mar.
1929
2d pref. income, 5 g
Blnking fund, 68
37is
2.=ii4 Mar.
19581 Feb.
1929 A & Oll0b>sb, 105 Jan. 109 Sept.
3d pref. income, 5 g
Blnkiug fund, 5s
Nice b, 1021.1 July 109 Feo
PlttsburgA Western—4 g. 1917 J A J|*79 b. 751a Jan.
Blnklug fund deben., 58.1933
J]
109
b. 1071a Sept.
N103 b. 101 la Nov. 105% Apr. Klch ADanv.— Con.,6g:.1915iJ A
1909
25-year debenture, 5
Consol., 5g
1936; A A 0,*78 b. 78
1926 F & 4*95 a. 93 Oct. 100 Jan.
Aug.
Extension, 48
84'9
Eich.AW.P.rer.-Trust,6g.l897]F A
82 Sept.
Chic. Peo. & St. Louis— 5 g.l928 M & S'*98 a. 921a July 100 13 Jan.
53 14
A
Cou. Ist A col. trust, 3 g. 1914
51 Sept.
Chic. R.I. & Pac— 68, coup. 1917 J & J 122 b. llSiaJuly 12714 Feb.
7858
9514 Mar. 101i4 0ct.
7314 Aug.
Bio G. Weateru- ist, 4 g.. 19391 J A
Extension and col. 5s. .1934 J & J 100%
109 lab. 105 Jai.
Feb. 103 May
Chic. 8t.L.&Pitt.-Con.,5g. 1932 A & O lomb. 100
K. W. AOgd.— Con., 5S....1922 A A
s7%b. 8218 Mar.
Chic. St. P. M. &0.— 68....1930 J & D 1191-ib. ll3i4June 119^6 Oct.
St. Jo. A Gr. Island- g..l923 M A
Juiie
Cleveland & Canton— 5g.. 1917 J & J 80 a. 86 Nov. 911a May
St. L. Alt. AT. H.— Ist, 78. 1894 J A J llOiab. 108
Oct. 132
Feb.
1894; F A A 106 b. 101
Aug.
C. C. C. & I.— ConBol., 7 g.l914 J & D •130 b. 128
2d pref., 78
General consol., 6 e
1934 J & J *116 b. 113 July 1121 Mar.
St. L. AlronMt.— I8t7s...l892 F A A 102i8b. 100 la Aug.
CC.C.&St.L.- Peo.& E.48. 1940 A & O 79 b. 73 June 81% Sept.
1897lM A N 10514b. 104 Nov.
2d,7g
Income, Is
1990 April. 26S8b. 16 June 291a Sept.
CairoArk. ATexas, 7g..l897!J A L) 108
1031a July
Col. Coal & Iron- 6 g
1900 F & A 101 lab. 981a Oct. 106 Jan.
Gen. R'y A Iandgr.,5g..l931 A A O 85
31
May
CoL Midland- Con., 4 g...l940 F & A 69 b. 62 Apr. 711a Sept. 8t.L. A San Fr.— 6 g.,Cl.A. 19iMii:.I A Nil 10 b. 108 June
NIllO b. loeia June
Col.H.Val.&Tol.-Con.,5g.l93] M & 8 86 b. 78 13 Aug. 89% Oct.
1906
6 g.. Class B
1906"'
N 110 b. 107 June
General, 6 e
1904 J & D 93 b. 80 July 941a Nov.
6 g., Class C
Denver & Rio G.— let, 7 g. 1900
N 115 b. 114% June 1191a Feb.
1931
A J 107 b. 103 July
General mort., 6 g
Ist consol., 4 g
N 67
1936 J & J 79%
77 Aug. 83 Feb.
9,89
A
So.Weat.1
st,
4s,
1
64% Nov.
St. L.
g.
Det. B. City i; Amena— 6 g. 1913 J & J *90 a. 90 Oct.
2d,4H, g.,inoonie
1989 J A J 30
23 Aue.
961a Feb.
29i« Jan.
Det. Mac.& M.— L'dgrants. 1911 A & O 32
110
8.P.M.AM.—
Dak.
Ex.,
1910
35% Sept.
6 g.
114 May
Dul. & Iron Range— 58.... 1937 A & O 98 a. 94I2N0V. lOOigMay
A J *I19 b. Ill July
1933
Ist consol., 6 g
Dnl. 80. Sh. & Atl.— 5 g. ... 1937 J & J 94 b. 83 July
reduced to 4ia g
A J 98 a. 97 July
99 Feb.
do
E.Tenn.V &G.— Con.,5g.l956 M jr N 90
A D H4'4b. 80 Jan.
90 Nov, 104 Jau.
Montana Extension, 4 g-1937
Knoxville & Ohio, 6 g...l925 J <K J 104
102 July IO918 Apr.
A J 00 b. 61 Oct.
San A. A Aran. P.— lst,6g. 1916
Eliz. Lex. & Big San.— 6 g.l902
& S 83 a. 80 Oct. 95 Jan.
A J 60 b. 61 Oct.
1926
Ist, 6 g
Ft W. &Denv. City—6g.. 1921 J & D 101
93 Aug. 105 Jau.
A A 96'6
Seattle L.8. Ali.— 1 st,gu. 6.1931
95 Aug.
Gal.H.&San An.-W.Div.l8t,5 g.
93 %b. 911a July 9714 Oct.
106 b. 102 Aug.
80. Car.- Ist, 6 g,, ex coup. 1920
Han. & St. .108.—Cons., 68.1911
*20 b. 13 Jan.
115 b. 110 Mar. 117 Jan.
tpcome,69
1931
Illinois Central— 4 g
1952'A & O 9118
97 Mar.
1909-10 J A JllOS
931a Nov.
80. Pac, Ai-iz.~6g
100 Sept.
Int. &Gt. No.— 1st, 6g....l919M
II514
1905-12 A A O'lio
1091a July 116 Sept.
80. Pacitto,Cal.— 6 g
1091a Apr.
Coupon, 6 g., trust rec. 1909
& S 70 b. 68 Mar. 76 Jan.
1938 A A 0100
Ist, consol., gold. 5 g
971a Oct.
lowaCentral— l8t,5g
1938|J & D 861a
1911 J A .1 102 b. 101 July
801a Aug. 87 May
80. Paoiflo, N. M.— 6g
Kentacky Central- 4 g
1987 J & J 81
78 July 8213 J.in.
Tenn.C. I. ARy.— Ten.D., lst,6K A A O 90 a. 82 Aug.
KlngsCo. Kl.— l8t,5 g....l925'J & J 100
97 Oct. lOOiaMay
Birm. Div.. 6g
1917 J A J 91 b. 84 Aug.
Laclede Gas— Ist, 5 g
1919 Q—
79
7113 June 821a Jan.
2000 J A D 85 %
Tex. A Pac— Ist, 5g
811a Oct.
liSkke Erie A West.- 5 g
1 937 J
& J 108
105 Aug. lOO^s Jan.
2000 Marcb. 3014
27 Aug.
d, income. 5 g
L. Shore- Con. cp., 1 st, 7a 1900 J & J 120 b. 1171a Sept.
234 Jan.
91 b. 91 Nov.
1924
Tol. A. A. AN. M.— 6g
Consol. coup., 2d, 7s
1903 J & D 123 b.]il8 June 124 Jan.
103 Julv
Tol.A. A. AGr.Tr.— 6g....l921 J A
Long Isl'd— 1 St, con., 5 g. 1931 Q-J 114 b. 110% Jan. lib Sept. Tol. A Ohio Cent.- 5 g
1935 J A J 103 lab. 1021a July
General mortgage, 4 g..l938 J & D 90 b. 88 June
1917 J A J 7.i b. 711a July
Tol. Peo. A West.— 4 g
921a Jan.
Louis. A Nash.- Cons., 78.1898 A A O 112%b.!ll0 Sept. 11558 Mar.
79 July
Tol. St.L. A Kan. C.—6g.. 1910 J A D 921a
M.O. AMob. 1st, 6g
1930 J & J 118 b.!ll338July II8I4N0V.
Paciflc— 6 g
A 1112
Union
1899
110 Sept.
do.
2d, 6g
1930
A J 110 b. 105% Aug. 112 June
Siuklugfuud. 83
A
SlOSksb. 103 Sept
1893
E. H. AN. Ist, 6g
1919
A D 113 lab. 111 June 113% Oct.
Nov.
Collar, trust 4ia
lOlfS .M A N 675eb. 63
General, 6 g
1930 J A D'116
112 July 117 May
Kansas Paoiflc— Ist, B g..l895 F A A 10614b. 10458 Aug.
Unified, 4 g
1940
A
79 b. 76''8 Aug. 85'8 Mar.
July
J A Di 108 lib. 107
l»t,6 g
1896
Louie. N.A. A Ch.— l8t, 6s. 1910
108 b. 101 Mar. 112 Sept.
n:i07 b. 106 Sept.
Denver Div. —6 g
1899
Consol.,6 K
1916lA A O 9014
84 Mar. 991a Nov.
N:*I06
M
Nov.
l8tcon801.,6
1919
A
b. 101
B
IX)ul8. St. L. ATexas—6g.l917ir A A
831a
65 Aug. 88 Jan.
Oregon Short Line— 6 g..l922 F A A 10214
95% Aug.
Meteo. Elevated— Ist, 6 g. 1908 J A J II4I3
111=8 Jan. I1513 June
Or.S.L.AUt'hN.— Con.5g.l919 A A O 74
tm Aug.
„?*.6»
1899 M A N ]04'8 103 June 108 Apr.
D
Gulf
J
A
61
Aug.
U.P.Deu.A
con. 5 g.l939
73
JDoh-Cent.— l8t,con.,78..1902 M A N 120 b. 118 June
Apr.
1937
109
106 Jau.
Union Elevated— 6 g
--^ii«ol., 58
1902
N 106 b 106 Nov. 1241a
Mid.
—Gen. m.,5s, 1936
75 b. 771a Nov.
Virginia
1081a Oct.
MJLLakeSh.AW.— I8t,6g.l921
120iab. 117 June 127
Apr
do
73
73 Nov.
stamped guar
Exteu. A Imp., 5 g
1920 F A A 9958
97 Aug. lOl's Jan.
lOlia
9618 May
Wabash— Ist, 5 g
1939
K. A T.— Ist 48, g
1990 J A D 79''e
74%
Jan.
811
Nov.
A
70 Feb.
mortgage,
5
F
A
79%
2d
1939
g
2d 4e,g
1990 F A A 45=8
36 July 48 Sept.
1939
A J! 4314b. 27 Mi,y
Debent. M.. series B
Mo.Paciflc— Ist, con.,6g.l9-..'0 M
IO3I3
103 May 111 Mar.
10218
Shore—
Guar..
2361
A
J
West
48
991a July
M,7e
1906
11214b. 105
July
A J 99
96 Jan,
West. N. Y. A Pa.— Ist, 5 g. 1937
Pac.of Mo.— l9t,ex,,4g.l938 F A A 96 b.| 94 June 116 Apr.
100
Jan.
27 July
2dmort.,3g.,5sc
1927
A
Ol
31
b.
2d extended 58
...1938 J A J 103. b.
A J 100
98 Jan.
West. Un. Tel.— CoL tr., 5s. 1938
Mobile A Ohio— New,6g.. 1927 J A D 117 b. 991a Jan. 103% Nov.
112 Jan. 1171a Apr.
*93iab.
Co.—
J
88 July
WU.
Cent.
Ist,
5
1937
A
g
General mortgage, 48... 1938
A 81 67
..I 43
62 July
70 Feb.
1937
a.
28 July
Income, 5 g
KOTE— '• b '• Indicates price bid ; • a" price asked; the
^ Latest price this week
Range ta made up from actual sales only.
63%
1989
100-year income, op
14 b,
Atl. * Pac.— W.D. iuc, 6s. 1910
1937 J <fe J; 72 b.
Guaranteed, 4 g
A
&
Olll
Brookl'u Elevat'd let, 6, g. 1924
Can. South,— l8t guar., 58 1908 J & J IO714I).
983feh.
1913
2d, 5s
Central of N. J.— Cons., 78. 1899 Q— J 116 b.
b.
1
M
&
N
! 8
1902
CoDBol., 78
General mortRase, 5 K..1987 J & Jiogiib,
q—
'1IO14
K
Leli.&W.B.,con„78,a8'd.l900
1912:M & N *100 a.
do. luortgage.Ss
66%
3838 Mar.
9% July
M
I
MAS
MAS,
. .
.-f
M\
M &N
M
&N
AC-
M
M
A&
M
,
.
MA
MA
M&
.)
M
1
MA
MAN
MAN
MAN
MAN
MAN
L
AN
MAN*
M
I
NEW YORK STOCK EXCHANGE
SECURITIES.
Railroad
Bid.
Ask.
UouiU.
iJeni'l
A Ohio— Ist, 68, Park B
5"' ^'<1
rsr-=r—
no price -s-r;
rrWay i
81i«
1919
16
1925 106
iggg 108
U8
107
Ohio Reor.— Ist,
414.1
SECURITIES.
Rap.ANo.- (Contin'd)Minn. A St. L.— Ist, 7s, ga..l927
lovra C.
A West.— 1st, 7s.... 1909
Ced. Rap. I. F. A N., 1st, 63.192-.>
19.il
1st, 58
C.Ohio— JoL A Cln. M. lst,4 las. 1 939
KR. A Bank.— Col. g.5».1937
11718
lent.
116
Rome A Col.— Gtd g.r)9.1937
dav.A West.— l8tcon.gtd.5».19 J9
lent, of N. J.— Conv. deb., 68.1908
Chat.
100% 100%
90
Feb.
Nov.
Nov.
116 Sept.
100 la Feb.
1171a Oct.
114i4Mar.
113l4Peb,
85''8
Jan.
8414 Mar.
Feb.
109
1 10
112
1
12
Mar.
Feb.
May
IIOI3N0V.
63 Feb.
581a Jan.
lOSiaFeb.
74
Feb.
110 May
100% Mar.
I0714N0V.
1 09 "a May
103 Feb.
74'8 Apr.
83 Oct.
71i4 0ot.
52 Oct.
39=8 Sept.
81
Feb.
118 Jan.
9113 Jan.
100 "a Jan.
75 Feb.
79 Nov.
114
Mar.
9218 Jan.
110% Mar.
107
105
Jan.
Jan.
108% Apr.
108
Nov.
93% Jan.
1141* Oct.
Oct.
35 14 Oct.
1 20
Nov.
102 13 Feb.
87i3May
74
Feb.
73 Hi Feb.
103 Mar.
105
29
Oct.
Sept.
103% May
114
Mar.
101% Mar.
04
94
Apr.
Jan.
961a Jan.
901a Apr.
33 14 Jan.
9:118 Feb.
108 Apr.
1071a Jan.
77 Jan.
1
92% Nov.
114%
111%
74
1
11
.Mar.
Feb.
Apr.
Jan.
10958 May
111 14 Mar.
lllia Apr.
106 Mi Jan.
80% Feb.
82 Jan.
U2
Oct.
891a Feb.
90 Feb.
10358 Oct.
80
Aug.
3114 Sept.
Jan.
Feb.
103
101
SO"..!
Sept
100% Apr.
97
47
Jan.
Sept
27.
Burl. Ced.
1930 '100
99 •« 100 la
'92" 90
'^ouaui. A
Consol.
« collat.
couat. tri
;
trust, 58... 1934
tliew are the latest ,Hotatton.
made this week
BONDS-NOVEMBER
Ask.
l.t.g.,4ia.... 1990
RiT.. 1st g.,r. 59
1919
H. Tun. A W.— Deb. 5s 1913
Brooklyn Elevated— 2d, 3-3a. 1915
Butt. Roch. A Pitts.— Gen., 5s. 1937
Rooh. A Pitts.—] st, 6s
1921
Consolidat'dl»t,G8. 1922
?"„
„
8url Ced. Rap. *No.-l3t,58. 1906
Bo»t.
82
Bid.
A0.8.W..
Mo».
Alrtama Mld.-X«t. g., «• ....192S
Atlantic A Dan.. -1st g., 6s. .1917
_Oon». mort., gol I. 5»
SECURITIES.
B.
(Slock Bxchonoe Price:)
Bait.
PRICES-tContinned).-JW:4CrrF£
Nov.
Jan.
MAN
MA
Sept.
118
.
1
120
IO718
1 15
looia
101 14
MAN
&S
1
lo9% June
137% Feb,
10718 Apr.
M
MAN
MAS
.
127i4Apr.
110 Jan.
123 Mar.
95 =8 Sept,
115 Apr.
132 Jan.
Apr.
Apr.
Jan.
M
M
1271a June
10713 May
10314 Mar.
1131a
1 14
110
711a
.1
.
1891.
BtgkeiL
Lowest.
84
Mar.
75
AtTop.&S.F— 100-yr.,4g.l989
1891.
1,
ftalet) in
A Ik.
NOTKMBEB
28,
THE CHHONICI.K
U91.I
NEW YORK STOCK EXCHANGE
BM.
SECURITIES.
\
& So.
West.— 2d,
OhlcnfmA Alton— l8t, 7b
Obes. O.
68. .191
2(1,
& Mo, Elver— l8t, 78.1900
1900
7s
8t. I-. Jiicks. A Chic- I8t,7s.l804
let, K-uar. (564), 78
1894
MIss.K. KrlUKe—l8t, 8. f., 68.1012
Ohio. Burl, vt Nor.— Dot). 68... 1896
Ohli-. hurlliii;. >t Q
5s, 8. f..l901
5e, convertible
1903
lowii Div.—Sink, fund, 58.. 1919
8inkhiKfuud,4s
1919
Plain. 4h
1921
Chic & Indiana Coal— l8t,58. 1936
Obi. Mil. & at.P.— l8t,88,P.D.1808
2d, 7 3-lOs, P. D
1898
l8t, 78, .fK., R. D
1902
iBt, La Crosse Division, 7s. 1893
l8t, I. & M., 78
1807
let, I. * D., 78
1899
Ist.C. & M.,7s
1903
BCtniKITIKM.
100
IBSl
AFla.-lBt, g. 6s
1997 66 «
Grand Rap. A Ind.— Uen. SB..1K14 80
Bt
Green B. V. A8t. P.— lat 6l .1911
85
98
2d income, all sube. paid ..
37%
Honsatonlo—OoDs. gnlif 5h
10b 7 id3% 104
N.
Haven A Derby, C<mis.5«..101P
C— Waco A N. 78..tOOS 112
101
>9
HouB. AT.
g., .5a (Int. gtd;
Con«. g. 6s (Int. gtd)
80
Oen. g. 48.(lnt. gtd)
Debent. 68. prin. A Int. gt<t.l897
iie>«
Debeiit. 48, prin. A int. gtd.1897
Uilnola Central— iBt, g., 4a ...1951
ibi"
iBt, gold, 319a
1991
104
Bprlugf. Div.— Coup., 68
1898
lOS 106%
Middle Dlv.— Reg., 58
1921
C. St. L. A N. O.-Ten. 1., 7i.l8e7
'92i« idi"
Ist, oousol., 78
1897
110 110%
2d, 68
1907
Gold, 58, coupon
.,19S1
1021a
Meinp Dlv., lat g. 4s
19S1
Dub. A 8.
83 >9
2d Dlv., 78. ..1894
96
Ced. Falls A Minn.— 1st, 7«.. 1907
8d,7B
9m
C—
I
70
90
91
fd..
lom
convert
ntt«.O.CABt.L.— Con.g.4>«8A1940
PItU. Clevo. ATol.-lal, 68.. .1022
A
pref.
iia%
111
....n
00
37
*
•>•«
..>••
Pitta.
L. Er.-2d g. 58, "A".1928
1932
Pitts. Mo. K.
Y.— I8t68
Pitts. Palnav.
K.— lat, 5b. ..1916 •;:::::
Preso't
Aril. Cent, lat, 6s,g. 1916
107
112
1114
A
A
A
•llli« 114
•>•••
112
104
•>•'••
•••«••
iiz'ii -•«•••
Peoria
A Read.— 3rt
13»
ISM
I2OH1 13a
1912
7«.I900
4tli,8lnk.f und
6b. 1 802
Bt. L.V. AT. II,— iBt.Oa., 71.1897
2d, 7»
18IW
2d. guar., 7b
189H
A P.—Con«.,B.
Clev.
Phlla.
OS's
105'*
AO.
Bid.
F«nn.BR.-P.O.AB.L..lBt,4i.,7«.igoo* 113
PttU. ft. W, AC.-lat, 7ii...lUI2| ISO
2d. 7b
1012 •
PflO.AE.-Ind.B.AW.-lnt,pr.78.1900
Obin lnil.AW.-l.«tpri.f.5«..103H
A Pek. Union- let, 611.I02I
2d mortg., 4198
1021
1087 101
981*
1912
61
62
1921
Ist
1893 105 >4 106
1903 118
eiukiriK fund, Os
Ix)uis.
60
•
Aak.
08
Gil. 80.
19:i»
H(.l,l r.a
Bid.
AHnn Ant.— Ut,6«. 1910
II. A H. A.— id luort., 7b. .1905
H»r.
0«1.
Wo»t. l>lv.,2d6B
UK)
Lmil (.'iiiiit, 58, g
1900 99i« 101
Wwt. Ptti<IUo— Boud8,6«....180» 104
No.Rallwuy (Cal.)—Ut, 08.1907
Sttjear 58
1988 9»
lis
Ohe«. k O.— Pur. M. fund, 68.1898 110
6e. gold. Relies A
1908 111 117
Wort.
8KUUUITIIC8.
'«al.
1900 108
Br.,6«
f»ll Jnilnlllii
PRICEH.-/iV.4CrfrB BOffDS-COontinwulJ -NOVESfBER 97.
A>k.
•sntrnl Pnctllo— Uolil hiU.eR, 1H95I in6\
GoM IpdiiUh, 68
IHim 108
1H07! I09<«
«i)lll iKillds, «8
789
•yr
1916
Rich. A Datir.— Debenture 6a. 1927
19«HJ
Equip. M.S. f.,K.. 58
All. A Char.— l8t, pref., 78. 1 897 •101
1900 •100
do.
Income, 6b
2d Income, 6s
112
»s
.
100
83
Rio Gr. Junct.,lat,giiar.,g.,5B.19.'tH
Ind. D. A Spr.- Ist 7a, ex. op. 1906 10719
Rome Wat. A Og.— let M., 78. 1891
Inter. A fit. Nor.— Coup. 68. ..1909
192.'5
70
75
113H
St. Jos. A Gr. le.—2d Inc
'123 1241a Kanawha A Mich.— Mort. 48.11)90
72
74
Kan. C. A Omaha— let, 5s.. 1027
118
Kan. C. Wyan.A N.W.— 1st, 58. 1938
Bt. L. A. A r.H-2d m. Iuc.7b.1h94
118
L. Sh. A M. 80.— C. P. AA.—78.1892 103
Dividend bonds
1804
118
Biiir. A Er.— New bonds, 7b. 1898
113
Bellev. A So. tlL— lat, 8e...i80«
122
Det. M. AT.-lat, 7a
128
1906 127
Bellov. A Car.— lat, 68
1923
let, I. AD. Extension, 78.. .1908 125
Lake Shore- Div. lionds, 78. 1890 11516 115%
ChLSt.L.APad.— Ist,gd.g.58l917
1st, baC. & Dav., Ss
1910 101
Mahon'g Coal RK. -let, Ss. 1934 106
Bt. Louis Bo,.— Ist, gd.g.
„ 48.1031
let, H. & D., 78
1910 120"« 122
Kal. All. A G. R.— Ist gu. 5S.1938
do
2dlncome,53.1931
let, H. & D., 5s
1910 100
I-ehlghV.,N.Y.-l8t gu.g.4ia».1940 100%
Car. A9hawt-l8tg. 4S....1932
Cbiciiiro it Paciflo Div., 69.. 1910 114
Mtchl. Car.A West.— Ist88.g.l916
98
St. Lou AB.Fran.— Equip., 7s,1895
Mineral Point Div. 58
J/Ong island— Ist, 78
1910 * 97
1898 114 116
1931
General 58
C. & L. Sup. Div., OS
1921 •100
N. Y. A U'way B.— Ut,g. 58.1927
100
1987
1st, trust, gold, 59
r»r(co & Soutli., 69, Assn.. .1924 •110
34
2d mortg., ino
1927 "a'e'
Kan. City A 8.— 1st, Os, g...l916
Inc. couv. sinli. fund, 5s
1916
SmithtownAPt.Jetr.— l8t,78 1901 104
Ft. 8. A V. B. Bg.— Ist, 68... 1910
Dakota &Gt. South., 58.. ..1916 993$ 100
IjOuls.Evans.ASt. I..— Con.58.1939
83>8
St. Paul A Duluth— lst,58....1931
Oilc.&N.W.-SO year deb. 5s, 1921
Louis. A Nash. —Cecil. Br, 78.1907 103
1917
2d mortgage 5s
Escauaiia & L. 8. let, 68.... 1901 ibf'
Penaacola Diviaion, 6s
1920 103
St. Paul Minn A M.— lat, 7s. .1909
DeoM. & .Wuu.— 1st, 78
1909
1907
St. Louis DIvlsiuu, Ist, 68.. .1921 114
2d mort., 6s
Iowa .Midland— 1st, 88
1022
1900 120
2d, 38
1980 61
Mluneap. Union— let, 68
Feninsiilii— 1st, conv., 78... 1898 120
Nashv. A Decatur— l8t, 78.. 1900 113 116
Mont. Cen.— 1st, guar., 68.. 1937
Clilc. A Milwaukee— l8t, 78.1898 1131a
1937
B. f.,68.— 8. A N. Ala
1910 100
Ist guar. g. 59
Win. A St. P.— 2d, 7s
1907
1924 100
10^0, gold, 63
East. Minn., let dlv. 1st 58.1908
Mil. A Mild.— 1st, 6s
1903 115
50 vear 53, g.,
1937 100 la
Ban Fran. A N. P.— 1st, g., .58.1919
Ott. C. F. A St. P.— l8t, 5s.. 1909 103
Pens. A At.- 1st, 63, gold. . 1921 105 la
Shenan. Val.— 1st Ts. g. tr.reo.1009
Northern III.— 1st, 59
1010 103
CoUat. trust. 5s, g
1931
Gen. 68, g., tr. reo. asat'd... 1921
971a
aR.I.AP.— 30-jear deb. 58.. .1921
1931
Nash. Flor. A 8. 1st gu. 58., 1937
90
South Carolma-2d, Os
D. M. A F. D., 1st 48
Lou.N.Alb.ACh.— Gen.m.g.58.1940 80
82
76
So. Pac. Coast— let, guar., 4s. 1937
Ist, 2ias
.
1900
Lou. N. O. ATei.— Ist, 48. ...1934
f.,
7s.
Central—
Ist,
s.
.
Texas
851a
Extension, 4s
1911
2d mort., 58
1034
i'965
lat mortgage, 78
Keokuk A Des M.— let, 5a. .1923 95
1005
lst,7a.
Louis. St. L. A Tex.— Jd g, 68. 1917
OrleansTexas
Chic. St. P A Kan. City—os. .1936
1012
Manhattan Ry.— Con.3. 48
1990
Sabine Division, 1st, 6s
Minn. A N. W.— Ist, a., 58. .1034
6*.
1005
100
Div.—
1st,
Memphis A Chari.— 6s, gold. .1924
Pac.
E.
Tex. A
Chic. St. P. A Minn.— Ist, 6a .1918 120
121
1»15 120
1st con. Tenn lien, 7s
Third Avenue (N.Y).— Ist 58, 1037
no
lom
,
.
.
iosiS
.
.
23%
•>«••
104>t
-
53
110
•
110
100
• 81
*
,,
84
65
77
102
94
85
90
•106
••-«•
•10319 •••••
•iii'ii
..
—
•11219
,
•112
114««
99
.
ANew
.
C—
Paul AS.
Ist, 6s
1919
A W. Ind.— lat, a. t., 68.1919
General mortgage, 68
1932
Gin Ham. A D.—Con. s. t., 8.1905
St.
121ifl
Chic.
2d, Kold, digs
1937
L.A Chic— l8t,g.,4s.l936
6a
1920
gn. Jack. A Mac— 1st, g., 3a. 1936
Clev. Ak. A Col.-Eq. A 2d 68.1930
ai;.C. at St. L., Cairo div.— 4s, 1939
ClD.
St.
I.
Consol
90
,
Bt.Lou.Div
— Istcol.t3't4s,g.l990
70
92
85
86
. .
Bornitf. ACol.Div.— lst,g. 48.
hilt- W.Val.Dlv.— l9t,g. 48.
1040
1940
Cln.Sun.AtU Con.l8t,g.58, 1028
CLCol. Ciu. A Ind.— l8t, 7s,8.<.1809
Consol. Jink, fund, 73
1014
Cleve. & Mah. V.— Uold, .5s... 1038
Colorado Midland— Ist, g., 68.1936
W
—
Columbia A Green.— Ist, 69.. 1016
iid, 6a
1926
A W.—Convert.
Del. Lack.
Mortgage 7s
Sjra. King. A N.
Y.— lat,
Deny, i B. G.— Iuip.,g., 58... 1028
E. Tenn. Va. A Ga.— Ist, 78... 1000
Divisional .5s
1030
Ut •XL., gold, 58
1937
JKq.&lMip.,g.,53
1038
Mobile A Binn.— let, g., 58.. 1937
Alaiiaiiia Central— let 68... 1918
Krie—l8t, extended, 78
1897
ad, extended, 5s
1910
3d, exr«-iiiied, 4>a8
1023
4th, BXtcuded, 5s
1020
fitb, extended, 48
1028
Ist, Kuas., fd. coup., 78
1020
Reorg., 1st lien, 6s
1908
8. N. V. A E.— 1st, 78
1916
A W.—Col.
N. Y. L. E.
yundcdcoup.,5a
li.coiije,
Bun.
,v
63
8.
W.— Mortg.
107
113
Minn.
107
109
DaL A Waco— ist, OS, gu.... 1940
Missouri I'acittc— Trust 58...1917
133
129
JstcoU
58,
1920
g
A Ohio— Ist ext.,
79
106 1<
.
. .
Whcol.ALE.— let.
68..
Oeut.Washingum— l3t,g..68.1938
Norfolk A Weat.—Geuerai,6s.l031 1181a
1932 112
New Biver, lat, 68
1934 108
Imp. <K Ext., 6a
7a
M.,
1924
Adiuatiueut
idi'
1908
Equipment, OS
1967
Clinch Val. 1st 5s
lio-a
77
Scioto Val. A N. E.-lBt,48..10UO
I
FrUay; these are the
latest
Ogd. Lake Ch.— Ist con. 6». .1920
114
Utaio A Ula8— 2d consol. 78. .. 191
1905 109
Bprlug.Dlv.— lai7»
1932
General 58.
1930 *..
Ohio Biver HB.-lBt. *».
1»37|*..
Oen. g.,5t
CoHr.g..9s.lU19'
ByANttV.—
OwMt.
95
Amer. Cot. Oil l>eb.. g., '*8...10O0 105
Amer. Water Works— lat 68.. 1907
1907
let cons. 39, g
CahabaCoat Min.— Istg. 7a..l0O7 108
10519
'Chic.Jun.A8.Yd8.— Col.t.g,58,1915
1010
'Colorado Fuel—Gen. 68
Col. A llock. t^oal il.—68,g..l0l7
Consol'u Coal— Convert. 63... 1807
Cons. Ona Co., Chic.-l8t ga.5s. 1930
Denv. C.Wat Wks.—Gen.g. 5a. 19 10
Det.Un.DcpotA8tn— latg. 48.1938
Edison Eleo. 111. Co.— 1st, 5s. 1010
lOOo
Equitable G. A F.— let 68
Hon U'rson Bridge— Ist g. 63.103
Iloookfii Land A Imp.—g. 58.1910
.Uutu.il Union Telegn—68, g.1011
Sation'i .-itarcU .Mfg.— 1st. 6s.l020
N.Y. A Perry C A 1.— Ist, g. 6s, 1020
Northwestern Telogriph— 7., la<.>4
People's
I
II
^
Co.,
Gas A Coke
luia
wMk,
(
illUt<-<!
i
•'
>leri.l...-i
•
'
lOOl*
104
104
106
90% Ofii
idsii
Istg.Ua.l'.mi
<(..
-l.AAO
L.AAO
.
-.
..'-LAJcO
:narl.— lat 7s, Ii)o7.J,kJ
Lun.— Inc.ls, 10L0.MA.X
llOia ni'ork'ia Pac— l»t 68, 1022
Consol. 5 g. 1023
Ineome 5b
98
00
70
LittleB.A.Hem.-lBt5g.l937.MAd
iMeni-ACliarL -Oou8.7g..t915.J.»J
09%
80
07i« 100
118
25
JAJ 100
AAO
II
06
99 >9
9J
107%
(2dg.O3,l0Ol "00"
1010 lOV
97 1» 101
illey CoBl-l8t g. Oa. 1920
Uambis— l9t,g.,68.l:>40 100
u Xcl.— 7i.... irt75-10OO 110
11
1
92 1«
Chicago
ilAU.AVICks.-C"
2dM..liieom'
^'4
105
113
Peoria Water Co.—Os. g
'.•
77
io6"
1030
A Imp. g., 3a
•IIMt'VllaueullN ttuildn
iS
qaotanons nude
38, gold. ..1926 •103
Exteu.-.i(m
1969 "8919
1977
85
68. ...1908
no
•100
100 ••>«•
llOia 11319
1017
80
81%
1910
*
1940
821*
14
Tol. A A. AN. M.— 58,g.
1896 107^8
119
Union Paciflo— l3t, «8
1897 109i>8
let, 6s
1808 110%
100
1st, 6s
I0O8 • 9II9
Collateral Trust, 63
10O7 • 80
17
Collateral Trust, 53
1804 92I9 9314
Gold, 68, coL tr. i.otes
119
1805 100
C. Br. U. P.— F. c, 7s
79
80
Atch. Col. A Pac— 1st, 6s... 1903
Atch. J. Co. A W.— 1st, Os.. 1905 • 75I9
72
74
TO
U. P. Lin. A Col.— l8t.g.,38. 1918
72
74
Oreg.S.L.A U.N.,c<)l.tr8U,58.1919
1008 100
Dtah A North.— let, 73
"79"
1926
75
Gold, 58
Utah Southern—Gen., 7».. 1909 100 IOII4
1009 97
Exteu., 1st, 7s
106"
Valley R'y Co. of O.—Con. Os.1021
7238 Wabash—Deb. M., 8ene8"A".1939 '6OI4
LoJii
1893 106
90
No. Mi.390uri— Isi, 7«
8t.L.K.C.AN.— K.E.ARK.7S.1803 106 IU619
90
70 19
Bt.CliariesBr'go— lat,69. loo.-s 103 >a 100 ••
West. Va. C. A Puts.— Ist, 6a. 1011 100
.
tr.,6e.l022
90
ToL A. A. A Cad.—6a
ToL A. A. A Mt. PI.—6s
99
45
.1927 110
103
St. L. A Cairo—4e, guar
123
i'io'
Morgan's La. A T.— lat, (is.. ..1020 110 112
136ifl
1018 12i3e
let, 78
10a Is lOS's
110
142'8 Nash. Chat. A 8t. L.— 2d, 6s.. 1901
New Orleans A Gulf— Ist, 6* .1926
126
N. O. A. No. E.— Pr. I., g., 6s.. 1915
120 121
1905
102
N. Y. Cent.— Deb. g. 4s
138
N. J. June— Guar, lat, 43. ..1986
Beech Creek— 1st, gold, 4a. 1936
071a
N. Y. N. H. A H.— Ist, rcg. 4s. 1 903 104
111
N. Y. A Northern- lat, g., 58.1027 104
102 100
1927 55
2d, 48
75
7719 85
N. Y. Busq. A West.— 2d, 4i«8.1937
1940 82
84
Qen. mort., 5a, g
North'n Paolilc— DIvid'daorip ext 102
Jamea River Val.— 1st, «8... 1936 1051a
113
104
Spokane A Pal.— 1st, 6s.. ...1936
]'14
Bt.Paul A N. P.— Gen., 63. .1923 ilfii 118
IO6I9
HelenaAltedM'n— l3t,g.,68.1937 93 100
110 113
DuluthAManitoba— l8t,g.6sl936 1041a
101 102 "a
Dul.AMan Dak.Dlv.— Ist6s.l937 104 >a id'?'
d' Alone— lat, 6s, gold. 1910
Cceur
ide'
...1938
ibi'
Gen. 1st, g., 63
134
Mobile
I
price
,
Bt,L.AI. M.--Ark.Br., lat, 78.1893
136
Jetter.^on- lat, gu. g. os
1909 102
AUK.—68
1022 1U2
rvttu.". >* T.ll.— Iat,con9.,«8..1021
118
Ml. Vtiinou— Ist 68
1023
Bui. Co. liraudi— Ist, g., 58.1030
Kvuna. .V Indian.— Ist, cons. .10261
rUnt Ji P. Main.— Mort., 68. ..10201 117 1122
l8t con. gold, 58
19301
100
Port Huron— 181, 3s
1939' 99
991a
Fla. Oeo aPea.— Istg. 5i
1918 *
97
rt Worth & B. Q.— l8t g., 5b. .1928
72«a 73
No
mortg., 58.1936
Mlnn.St.P.A8.S.M-latc.g.48.1938
Mo.K.AT.— K.C.AP., let, la,g.lOOO
Coal
•
A Pac— lat
Minn.S.StcM. AAti.— Iat.5a.l926
7s,1802 103
1907 131
7s.l006 125
Morris A Essex—Ist, 7s
1914
Bouds, 78
1000
78ot 1871
1901
Isi, con., guar., 78
1013
Del. A llud. Can.— -oupon 78,1894
Pa. Div., coup., 7s
1917
Albany A Suaq.— lst,gu.,78.1906
1st, cona., guar., 68
1906
Hens, ii Sar.— lat, coup., 7».1921
0«uver City Cable— 1st, 68. ..1908
Mexican National- 1st, g., 68.1927 02 le
2d, income, 6s, "A"
1917 41
2d, income, 6s, "B"
1917
11
Michigan Central—63
1909 115
Coupon, 5s
1931
Mortgage 48
1940
MU. L. S.&W.— Oouv. deb., 68.1907
981a
1924 115
Mich. Div., 1st, 6a
Ashland Division— Ist, 68 1925 116
Inooinca
100
Minn. A St. L.— lat, g. 7»
1927 110
Iowa Ext.^nslon, lat, 78
1909 110
1801
2d mortg., 7s
661a
Southwest Ext.— ist, 78
1010 05
93
PaciUc E.xt.— l8t, 6s
1921
1922 64
Impr. A equiinucnt, 6s
87
bl^
IOI9
73'a'
113
120
28
109
...
76
IIT
..
1
..
...
,
.
...
.
—
.
..
..
.
1
THE CHRONICLK
790
[Vol.
Earnings Reported,
Latest
%nvitstmtnt
Week or Mo
Bo ADS.
1891
ADD
glaxlr0a£
Geo. So. AFla.. October
Georget'nifeWii August
Ititielligjeucje*
furnished without extra charge to all regular subiCribers of the Chronicle. Extra copies are sold to subBgribers of the Chronicle at 50 cents each, and to others at
is
tl per copy.
. .
RAILROAD EARNINGS.
LaUti Earnings Reported.
. .
, .
AlabamaMidra. Septemlj'r
Altegbeny Val.. Septemb'r.
Atoh.T.&S.Fe.. 2d wk Nov
Hali owned . . 2d wk Nov
Total system. 2d wk Nov
BtL.&SanF.. 2d wk Nov
Halt owned.. 2d wk Nov
Tot.S.L.&S.F. 2d wk Nov
Agp. total
2d wk Nov
AttantaJtChar." Ausust
Atlanta & Flor'a Oetoher...
1891
1890.
Jan. 1
lo
Latest Date,
795,41
1891.
43,693
248,631
655,710
41,841
697,550
139,929
41,205
181,135
878.685
65,964
19,690
46,525
1,871.881 1,925,143
28,846,215 27,065,923
1,313.437 1,452.662
30.359,653 28,518.382
5,991,660 5,643,449
1,482,099 1 ,423,230
7,473,760 7,066,679
37,833,412 35,585,263
153.711
43.288
197,000
992,411
61,409
16,113
90.628
AUanta&W.Pt. Septemb'r.
46,775
330,870
B.&O.East Lines October... 1,774,478 1,714,919 15,951.527
Western Lines October... 515,499 518,298 4,598,623
Total
October
2,289,977 2,233,217 20,569,747
Bal.&O.Soutliw. 3d wk Nov
52,303
46,045 2,210,253
Bait. & Potomac Septemb'r.
155,989 143,386 1,303,282
Bath&Ham'nds August
2,796
2.556
14,147
Bir. <& Atlantic. October...
4,591
6,778
42,700
Bir.Sh.&Tenn.K Septemb'r.
19,828
14,580
151.693
Boff.Rocli.APlli 3d wk Nov
51,186
49,073 2,496,190
Bor.C.Rap.&N. I st wk Nov 102.024
79,303 3,196,492
Oamden &Atl. Septemb'r.
84.473
78,642
666.675
Canadian Paeiflo 3d wk Nov 485,000 411,000 17,715.700
Op.F'r&Yad.Val 3d wk Nov
13,608
12,369
631,407
Car.f'um.G&Cb. August
3,688
2,559
29,383
Car. Midland... August
4,381
4,876
Oen.KK.A Be.Co July
496,982 416,641
Central of N. J.. Septemb'r. 1,271,638 1,237,244 10.416,476
Central Paclflc. Septemb'r. 1,643,899 1,656,976 12,429,808
Central ot S. C. .\ugu.st
7,707
7.901
64.964
Ohar.Cin. AChlo October
18,000
17,071
130,465
Oharle.%t'n & Sav Septemb'r.
46,663
534.2.=.6
49,837
Char.Siim.&No. October...
24,115
12.234
108,715
Chatt'n'KaUni'u October
8,852
10,179
83.712
Oheraw. & Darl. Septemb'r.
9.125
12,937
74,401
Cheraw.&Salisb August
1,328
1,448
1 5.275
Cbes. AOblo.... 3d wk Nov 178,777
168,711 7,829.372
Ches.O. & 8. W. October
229,913 213,515 1,929,574
Chic. & Alton... Septemb'r.
755,400 659,800
Chic. Burl. & q. Septemb'r. 3,713.13.5 3,244,467
24.406,037
Chic* East. 111. 3d wk Nov
60,4 00
71,800 3,284.431
CliicaRo & Erie. August.
250,485 2;S5,761 1.700,717
ChJc.Mil.&St.P. 3d wk Nov 746,404 624,174 25,358.114
Ohio. iN'tliw'n. October
3,278,59 2,940,025 23,935.397
Ohlc.Peo.&S.UI Ist wkNov
25,026
14,095
976,097
Chic. K'kL&P.a October
1,739,477 1,756,431 14,141,302
Ohic.St.P.&K.O. 3d wk Nov
110.250
88,625 4,115,019
Ohlc.St.P.M.&O. r-eptemb'r.
862,312 691,910 5,424,132
Chic. & W.Mich. 2d wk Nov
31.515
33.734 1,533,922
Cto.Ga.<!fe Ports. October
7.297
7.187
57,591
Cln.Jack&Mau. 2d wk Nov
12,856
12,891
631.006
Cln.N. O. &T.P. 2d wk Nov
81,574
84.744 3,776,666
Ala. Gt. South. 2d wk Nov
37.718
40.913 1,633,917
N. Orl. & N. E. 2d wk Nov
27,703
26.820 1,003,710
Ala & Vick8l). 2d wk Nov
16.685
16.704
500,102
VlCKS.Sh. &P. 2d wk Nov
15,918
13,.397
537,282
ErlauKer 8yst. 2d wk Nov 179,598 182,578
7,511,678
CLnn. North w'u. October...
2,062
1,733
17,658
Cln. Ports. & v.. October...
25,318
19,797
204,596
Col. & Mavsv. October
1,005
843
10,440
Oin.Wab.&Mich. October
70,800
55.307
615,694
Oiev.Akron&Col 2d wk Nov
18,551
829,.".23
18,189
Oiev. & Canton.. Septemb'r.
71.992
59,458
.530,233
Ol.Cin.Ch.&8.L. 2d wk Nov 280.703
274,600 11.677,158
Peo. & East'n. 2d wk Nov
36,156
29,201 1,468,048
Olev. & Marietta October...
32,515
31,830
287.034
Color. Midland. 2d wk Nov
39,.592
37,943 l,770,69i
Col.H.V. &Tol. October... 338,982
316,683
2,716,737
Ool.Shawnee&H October
70,157
36,146
484,453
Colusa & Lake. October
2,375
2,852
24,2-10
Conn. Kiver
October
104,144 103,497
928.655
Current River.. 2d wk Nov
2,866
3,298
134,426
g«nv. & Rio Or. 3d wk Nov 180,300
185,500 7,604,758
DesMoin. &No. October
11,733
11,258
107,371
De»M. &N'west Octolier
22.436
22,781
169,502
DetBay C.&Alp October...
29,600
36.319
381,895
I>et.Lans'giiiNo' 2d wk Nov
21.253
26,484 1.093,050
DoluthS.S.&Atl Septemb'r. 238.381
239,554 1,683,386
Duluth & Wiun. October
8,180
5,329
62,371
E.Tenn.Va.<iGa. 2d wk Nov 144,864
160,756 6,158,338
BlgluJol.&Eaal. Septemb'r.
62,147
61,866
510,667
Uz.I>ex.<&B.8... August
76,397
85,354
493,671
Evans.&Ind'plis 3d wk Nov
6,770
5,936;
304,101
BTansr. & T. H. 3d wk Nov
22,800
21,983!
1,037,676
ntobburg
Septemb'r.
648,917 664,318 5,195,904
VUnt.AP.Mara. 3d wk Nov
51,079
47,688 2,383.975
Florence
August
2.086
2.490
27,687
Flor.Cent.AP. 1st WkNov
33,820
26,077 1,198,440
FtW. ARloGr. 3d wk Nov
9,885
4,895
284,872
0«. Car'la diNo. August
8,062
3,747
73,003
Georgia RR
Septemb'r.
140,118 176,537 1.294,034
.
. .
. .
. .
. .
1890.
9
$
48,903
238,064
751,339
44,072
.
1,955,889
2,758,935
670.051
15.007.335
498,419
16,983
9,912,559
11,627.478
75,758
106.791
500.443
60,114
96,749
75,194
14.365
6,905,773
1,745,952
25.919.126
2,914,6;i9
1,807,135
23,615, :<74
.
23,316.060
602,467
14,287,885
3,882,434
4,833.672
1,395,528
56,257
590,173
3,850,681
1.682,315
1,065,663
575,492
516,543
7,690.896
16.735
189,100
8,050
500.281
738,753
412,437
11,493,506
1,300,811
272,341
1,630,314
2.497,340
252,553
22,062
946,907
150,012
7,757,395
99,312
184,236
449,588
1,064,710
1,727,832
44.405
. .
. .
. .
.
.
. .
. .
. .
. .
. .
. .
.
103,4S9
326.875
15„573,1G4
4,729,226
20,302,390
2,077,103
1,257,922
12,343
64,883
141,268
.
. .
1891.
6,461,2,50
432,974
531,617
20S,007
913,791
5,259,874
2,613,344
24,761
981.K33
162,390
36,892
1,267,373
1890.
S
66,501
620,804
590,670
3.103
27,913
26,405
50,082 2,11.5,876 2,317,280
8,930
394,889
414,295
4,760
193,755
191.277
63,773 2,706,42,-1 2.922,714
391,940 17,417,837 18.006,948
73,722 3,202,915 3,291,525
22,971 1,049,433
990,970
8,833,004
878,51
1,058.600
10,770,112
32.114
1,004,713
140,404
7,784,342
531,233
909,300
9,254,872
34,166
Tot. sy.stem. October... 1,863,633 1,514,9211
5.549
4,143
Gulf & Chicago. October...
158,658 152,990
Housatonic
August
1,01.5,688
17,500
19,654
Humest'n&Shen October...
136,623
9 222
Hutch.&South'n October...
Illinois Centr'i.. October... l,809!537 1,751,083 13,112 692 13,607,300
41.294
38.561
Ind.Dec.&Quin. October
372,073
391 (.07
97,371
93,556 3,301 ,500 3,325,930
In.&Gt.North'n 1st wk Nov
47,888
Iowa Central-. 3d wk Nov
37,899 1,573 ,051 1,497,257
3,001
3,204
Iron Railway.. October...
30,734
28 ,644
55,46i'
39,714
J'k'uv.T.&K.W October
4 84,935
621 ,294
6,: 74
6,"; 38
Kanawha&Mich 3d wk Nov
298,316
290 861
4,97('
8,451
Kan.C.Cl.&Sp 2d wk Nov
375,326
2701,136
105,209
90,551 4,101 ,382 4.181,191
K.C.F.8. &Mem 2d wk Nov
27,050
26,205
K.C.Mem. & Bir. 2a wk Nov
1,021 ,143 1,0. 4,179
8,168
8,297
Keokuk & West. 2d wk Nov
319,950
354 ,678
7,775
6.613
L.Erie All. & So October...
61 19
57,037
63.523
58,605 2,872 ,984 2,714,856
L. Erie & West
3d wk Nov
34,781
34.011
Lehigh* Hud.. October
305,182
346 223
20,617
18,507
L. Rock & Mem 2d wk Nov
496,518
602 ;026
73,360
66,630 3,783 ,909 3,612,036
Long Island
3d wk Nov
60,922
38,119
Louis.&Mo.Kiv Septemt'r.
303,634
346 928
32,701
Louis.Ev.&St.L. 3d wk Nov
26,98
1,390 ,553 1,161,320
415,680 379,295 17,905,,770 17,022,848
Louisv.cfeNashv. 3d wk Nov
51.487
58,245 2,559 ,518 2,350,968
Louis. N.A&Ch. 3d wk Nov
113,608
93,331 3,291 ,891 2,569,447
Louisv.N.O. <feT. 3d wk Nov
Lou.St.L.&Tex. 3d wk Nov
8,472
6,504
351,346
410 .243
13.116
15.459
Lyuehb.&Dur'm October...
87,036
140 ,0rt3
44.620
43,122 1,381 ,822 1,585,503
Miemphis&Chaf 2d wit Nov
(Mexican Cent... 3d wk Nov 146,163 136,7
6.499 .824 5,605,773
72,387
83,245 3,716 962 3,298,083
(Mex. National 3d wk Nov
68,268
81.817 3,398 ,169 3,124,466
[Mexican K'wa\ Wk Oct.31.
Mil.L.Sh.&Wesi 3d wk Nov
60,885
64,540 3,192 ,946 3,521,568
40.598
29,24
Milwaukee &N« 3d wk Nov
1,551 ,773 1,402,666
13,298
11,568
MineralRange. October...
103,453
120 ,702
208,624 170.362 1.457 416 1,221,070
Minneap. ifcSt.l.. October...
200,444 1,976 ,875 1,661,031
2r7.'204
U.St.P. &S.S.M October...
Mo.Kan.&Tex.t 3d wk Nov 229.126 201,874 8,311 167 7.846,176
Mo.Pae.&trouM 3d wk Nov 539,000 491,000 22,537 ,014 22,301,682
21,624
22,962
Mobile iSiBirm.. 3 wks Oct.
202,156
21 ,705
317,930 325,700 2,837 548 2,751,645
Mobile & Ohio.. October...
75,671
40,150
Monterevi\:M.G Septemlj'r.
264,965
652 200
491,980 352.065 3,864 ,031 3,108,605
Nash.Ch.&StL.c October
28,446
21,423
N.Jersey ifeN.\'. Septemb'r.
196,027
216, 991
14.876
14,669
New Orl. & So'n October
119,256
137 .862
1,173,663 3.635,134 36,172 ,094 33,416,877
N. Y. C.& a.H.c October
N. Y. L. E. & VI Septemb'r. 2,935.317 2,669.783 22,485 ,901 21,596,902
699.624 667,071 4,53 ,716 1,741,374
S. Y. Pa. & Ohlu -August
579,318 578,918 5,199, 248 5,039,633
N. Y. &N,Eug.. October...
48.335
41,916
N. Y. &North-u. October...
438,092
431 338
60.612
49,951 2,730 ,001 2,185,683
N. Y.Ont. & W.. 3d wk Nov
159,151
163,228 1,377 701 1,316,916
N.Y. 8usq.&\V.. October...
168,063 169,398 8,069 6l5 7,591,434
Norfolk A- West.. 3d wk Nov
42,334
36.788
N'theast'nO. C.) August
468,583
501 272
NorlU'u Ceutial. Sejitemb'r. 625.919 608,278 4,979 82^ 4,998,810
Northern PaciUc 3d wk Nov 606,168 622,575 22,508 .061 21,451,56&
No. Pae.&W.C. 3d wk Nov 707,639 733,361 27,067 924 26,154,961
86,0.57
82,374 3,691 ,268 3,651,694
2d wk Nov
Ohio & Miss
14,825
14,111
Ohio Kiver
2d wk Nov
595,100
601 ,5<i2
16,313
13,250
481,557
Ohio Southern.. '2d wk Nov
511 6(i3
46,111
50,145
Ouiaha&St. L.. Septemb'r.
4.55,423
350 ,533
Oregon Imp. Co. Septemb'r. 404,199 4U5.431 3,080 961 3,360,597
Pennsylvania .. October
6,408,160 6,182,901 55,935 285 55,237,072
13,541
703,5'2O
PeonaDec.&Ey. 3d wk Nov
1 8,253
783 556|
39,125
Septemb'r.
36,031
408,073
Petersburg
399 ,349
503,796 483,019 3,803 ,058l 3,809,477
Phila. & Erie... Septemb'r.
Phila. & Read's October... 2.246,919 2,123,831 18,217 ,333jl7,383,768
Coal & Iron Co. October... 2,673,133 2,151,900 17,28.T ,41445,386,707
TotalbothCo.s. October... 4,920,052 4,275,731 35,502 ,749 32,969,465
3,328
31,125
4,392
Pitta. Mar. &Ch. October...
37 634
Pitt.Sheu.&L.E. October...
35,284
24,588
218,826
277 361
147,585 133,431 1,098 .887 1,091,432
Pittsb. it \Test']i Septemb'r.
39,115
334,963
Fitts.Clov.&T. Septemb'r
50,382
359 586
23.676
211,194
30,100
Pitts. Pain.&F. "cptcmb'i'.
231 .343
43,195
47,427 2,027 ,533 2.014.98O
Total .^ysteiii 3d wk Nov
140,068 lf9,935 1,071 ,302 1,172,380
Pltt.Youug.iVA. October...
22,305
207,727
25,518
248 ,133
Pt. Royal & Aug. August
31,111
251,007
Pt.Roy.&W.C-ii. August
26,476
262 ,669
108,744
Pres.&Ariz.CcD. October...
12,6«o
16,668
116 ,686
209,174,
QuincyO.&K.C. October...
27,155
215, ,546
25,8 L7
Kich.iDauville. October
615,000 583.700 4,972, OOO 4,709,400
Vir. Midland.. October...
201,600 220,90.
1,898 ,515 1,885,780
778,745
Char.Col.&Au. October
101,200 105,400
798 118
697,700
86,70u
685, ,919
89,360
OoL ifcGreenv. October
800,015
9 1,91
871, ,748
101,200
West. No. Car. October...
October
Georgia Pac
208,300 172.430 1,024 370 1,510,225
125, 2-27
13,800
Wash.O.ife W.. October...
15,920
137 ,220
122,98»
Spart.
13,600
13li, ,002
October...
13,900
&
Ashv.
Total S.vs'm. 2d wk Nov 346,800 297.200 11,877, ,871 11,344.659
255,430
25,294
25,667
250 ,210
Rich. & Petersl). Septemb'r.
10,420
KioGi'de South. 31 wk No.v
268 ,023
1.644.670
Nov
44,200
West..
3d
wk
51,500
.608
2,294
Bio Gr.
354,509 336,235 3,335 ,012 3,311,772
Rome W. & Ogd. October
86,126
14,76J
11,713
Sag.TascolaiH. October...
92 ,111
31,810 1,225 ,752 1.146,7.56
St.L.A&T.U.B'a 2d wk Nov
29,210
3,344.29.^
94,273
,081
Southw'ru.
jd
wk
Nov
114,720
St.L.
3,850
8t.Paul&Durth October... 248.373 173,01S 1,488 740 1,236,491
54 158
S.Ant.&Ar.Pass. IthwkOct
45,941
703,153
16.180
773,138
8. Fran.&N.Pac 2d wk Nov
17,696
£06.975
416.339
51,738
59,268
8av. Am. & Mon. October...
146.009
13,15»
144,755
SeattleL. S. &E. IthwkMay
10,150
77,210
October...
11,001
104,281
Silvertou
17,391)
249,028
354, aci
Sioux City & No. October...
41,666
43,000
1,264,087
South Carolina October...
182,000 180,92- 1,390,586
Bo. PaciUc Co.—
Gal.Har.&S.A. :5eptemb'r. 431,312 427,702 3,174,235 3.058.534
851,065
10-2,198
716,91
liouis'a West.. Septemb'r.
111,199
Morgan' sL&T. -Soplenib'r. 473,846 520.876 3,780,624 3,837,785
151,674
N.Y.T.&Mex ricptcmlt'r.
154,846
30.771
29,323
Tei. A N. on. Septemb'r.
151,680 18'.^, 819 1.179.824 1,391,911
AtJanticsys.rf. deptonib'r. 1,218,392 1,271,918 9,083,310 9.310,997
Paoltlo system .Sopteintj'r. 3,653,8 loi3,493,M9 27,225,80i 25.584.723
Total of all. Septemb'r. 4.892 2n7'4.76.'> SOU 36.308.913 34.923.86
.
Week or Mo
69,790
2,930
42,882
8,804
3,735
55,442
410,594
72,000
23,541
Gr.Kap. &Ind.. 2d wk Nov
Cin.R.&Ft. \V. 2d wk Nov
Other lines. .. 2d wk Nov
Total all lines. 2d wk Nov
Grand Trunk. .. Wk Nov.21
Ohio &Gr.Tr. Wk Nov. 14
Det.Gr.H AM. WkNov. 14
Great North'n1,601,427 1,330,122
St. P. M. & M. October
149,578
75,832
East, of Minn. October...
117,628 108.946
MontanaCent. October
.
The General Quotations of Stocks and Bonds, occupying
to pages of the Chronicle, are published on the third
•atnrdar of each month.
EOADS.
Jan. Ito Latest Date.
$
The Investors' Supplement, a pamphlet of 150 pages,
eontains extended tables of the Stocks and Bonds of Railroads, and other Companies, with remarks and statistics concerning the income, financial status, etc., of each Company.
Sis published on the last Saturday of every other monthvie., January, March, May, July, September and November,
and
1890.
LIU
. .
.
.
. .
.
.
. .
.
.
.
.
. .
.
. .
.
.
NovRMBEa
J
.
.
11
1
.
. .
LaUtt Kamlngt Htporttd.
Jan,
1 <o
Lnitsi
BOADT.
W.
1801
189a
1891.
2.50.703
Arizona
I7:t.71!»
Hlt,(i25
NewMiM.Dlv
Si'ptcmb'r.
Col AiiKusi
n. T. Sopicintrr.
A
etmrOLACMt..
Sfiit«nili'r.
BQ'Qiult Brunch. Ortoticr.
L)kon« ValliM Oclobor...
Tot'l Until Co'H Oetobw...
Tinn.
T.Tro
II.
Texas
*
Miilliitid..
&
I'oo
Pm-lllr
October...
Si'ptcmb'r
M\ wk Nov
X<x.8.Va:iV.\V. •2,\ wk Nov
in. A. A.A N. M. October
Tol. Col. & CIn. ;W wii Nov
lol.AOhio Coiit :W wk Nov
Tol. P. * West.. 'Jd wk Nov
Id.
8t. L.
Clitcr
&
A
K.C.
Del
;!(I
wk Nov
Scptouib'r.
Union Paciac—
Or.9.L.&U.N.
Or.Uv.A N.Co.
II.OIU
1
1
,358
87,:U(1
22a.(U'^
2'J,840
18,673
84,571
167,4o0
.740,207
,771,719
,4(17,.576
704,099
79.191
810.912
47.710
891,310
800.218
,091.724
103,733
2i;8, 046
n.',U31
168,037
1,220
92,537
0,376
32,022
18..'572
1,317, 02
838, 479
.,:uu).3J8
2I>.1 i!)
40,570
37,953
34,539
35,484
1,0S2 (167
298/,630
,410,144
OlO
90,481
6,2!IH
0,214, 437
1,342,407
83
4.%,1I2
862. 401,
037. TOO
290,097
221
0.13
821,203
237,090
"
;
;
..ids)
;
037,737
.1!)2.5:(:'
.Soptoiiili'r.
Tot. Cont'lodScpiomb'r.
Moiitaiia Uii..|8cptomli'r.
0I7,.')21
57J,4l'?
9 1.0 IB
ii)0,.'>-;5
12 I
44.0 IS
.2113.
I^av.Top.AS. Soptemb'r.
2.!i:.0
flIan.Al.A }>ur. Soptenib'r.
4.2.-1
Joli.'t.own'd... 8f|)tcnib'r.
Grand total. Scptcmb'r.
Vfrottout Valle.v Oclobor...
Wabash
Dd wk Nov
Wab. Chest. &\V. AuKUst
Wash.Roiitliern. Soptemb'r.
Septcmb'r.
W.V.Cen.&l'ittrt. October
August
Western of Ala. September
West.X.y. &Pa. 2d wk Nov
WhesUii'jA L. E. 3d wk Nov
WU. Col. & Aug. August
WliOon'iuCunt. .3d wk Nov
rlicht9v..feTeo. October
Zancs. & Ohio... Istwk Sep!
Vii-.&Pitta.
.
.
51,S.-.l
,319.030
18.376
2S6.000
0.949
21,018
134.808
99,313
23,^83
56,022
70,H0O
23.58:)
52,323
101.471
8,230
3,007
023,235
527,08
523.776
1891.
IHOO.
«
«
!:•
8t.
I...
6,021, 902
4.020,,230
4,131,:306
>
508.094
l.3H,'<20
1,199.417
016, 334
.<M 1.215
,174,015' 15,913 010; 17 ,513,884
.940,004 30,309. 110 31 .353.091
7X0.728
5(13 8071
60.1271
,000,192 30,873 21732 ,233.><19
88,184
531 313
0H;).378
i)l,358,
3.219
22. 458
22.940
4.107
30, 561
27.215
93.509
534, 362
739,533
,033.917 31,163, 39332, 703.3n(i
17.937
158, .531
101.298
233,000 12,233, 0^*5 11 ,012.472
0,456
3 1,908
43, 179
22,008
212, 2.5H
207,230
129.349 1,146, 892
lOil.OOS
103,840
920, 403
8 '1,810
10,5 »9
112, 40S
07,308
57.700
380.287
399, 401
70,800 3,190, 012
153,303
22,693 1,147, 394
039,323
58,309
611, 113
003.175
110,780 4,539. 859
703,396
10,676
72.;819
73..301
3,419
98 586
101,224
FlRures cover only that pirt of mileniro located In Suutli Carolina
Earnings given .are on whole Jacksonville Southeastern SrstBin.
a The figures from Jan. to date include corrections for the Brit throe
monthsof each year. 6 Kan.=»as City & Pacille included in both years,
c Wcstoru and Atlantic included In Oct., 1891, but not in 1890.
d Includes earnings from terries, etc.. not given eeparitcl.v.
Mexican
onrrcncv. c Includes Kome Water. Jk Ogd. In bocli years for October
ami tlio ten mouths.
5,974.
73
tnntatt.
AnTMUW.
..1.
.-»,
I'lly
I'n.ii.
owiiod
...
>«.
A Wntt .Michigan
Oin.N.O..VT.Pur.l5raH<lsi
Cblcagn
Clevolnnd Akron
A Col...
A St. L,
Olere. Cin. Chic.
Peoria A Kanteru
Golornilo Mlilland
Current River
Detroit l.ans. ANnrth
East Tciin. Va.
Ft. Worth A Rio (ir.inde.
Ornud Ruplds A Indiana.
Clnciiiii:.tlB. AFt. W..
Chicago A dr. Trunk...
Det. <M. ilav. A Mil...
Kansas City Clin. ASpr..
Kan. City Ft. 8. A Mom.
Kansas C. .Mem. A Birm.
Keoliiik A Western
I.ittlcitock
A
1«
44.
-Ill
•i.n\
13,782
18.180
362
280,703
30,150
39.592
2,800
274.006
6,07
29.201
«,05S
1.640
11,7.'>4
4.16^1
42,882
50.08'i
8.80 4
8,75
8.930
4,700
385,86
73,722
22.971
414.004
72,000
2.<.04
4,970
105,209
27,050
3.10-1
20.61
44,620
San Fran. A No. Pac
Texas Sab. V. A N. W....
Toledo IVorIa A St. Long
Western N. Y. A Penu..
Total |83 roads)
'J
47JMI
,043
3S.734
"ali'ii
13',J.57H
141,861
.
OliloKlvcr.
Kich. A Uauv. 18 roads)..
8t 1,. Alt. AT. H. Rrches.
.
41. '203
37,943
3.2U8
20.484
1 00 73H
Mcuiphla..
Memphis A Charleston.
070,372
95,039
139.9 .'0
Other liiHn
Grand Trunk of<;unada.
^«f,
1
21,2,53
Ada
•
<-.
153,711
43,288
81.515
179.398
18,531
'a.
Ml
Roads
.
.2(iS.-7fi7
West
4,0i7,,939
1,457,,712
771,,452
87,,230
831,,317
48,,88!'
1,071, 230
777, 001
1,813, 289
109. 008
2H,777
7,285
121,4'U
Tot.U.P.Sy.*. Septciub'r.
We»t Jcrsev
1,710 919
01 9,2 -to
103.285
0.315
132,402
01,151
HI5,2H!»
fieptcmli'r.
Bcptcnib'i-.
tJn.rac.l).A(;.'Hept<Miib'r.
BtJo.AGMI.sl. PopiiMiiirr.
All oth. lines.. Reptnnib'r.
Odnt.Br.&UL.
235.999
170.910
88.15U
791
of Xotembrr,
Prev'l'.
At.-1.
Coa»tlllv.(Ciil; RrptomVr.
Bo. l)lv. (C\il.> Si'iplciiiirr.
8)1 ir. Liti.
Stfttrn Isl.
1
1
1890.
Par. RR.
Srplt'iiiirr.
n
out
4(1 irufi
l)iv.
.
THE CHRONICLE.
38, 1891.
WetkorUo
—
S,»80
""iii
S,331
U,893
7,590
"7.260
1.000
38,943
""870
"i'.7'23
"3,481
8,451
1jO,5'» 1
11.058
,!/r6
840
•,?97
is,60
43.122
"2,il0
I4,H25
14.111
714
340.80C
29,210
17,096
297.200
31,810
10,180
49,60C
940
1.220
20.14>.
18.372
70,800
7O.S0(.
0,010,588
8,192,401
5et Increase (lOOOp.c.l.
""129
1,498
"2,800
1,51(;
"286
1.777
6.000
014.981
824,127
90,854
Net Earnings 3I»ntbly to Latest Dates.—The table following shows the net earnings reported this week. A full
detiuled sUtement, including all roads from which monthly
returns can be obtained, is given once a month In these
columns, and the latest statement of this kind will be found
in the Chronicle of November 21.
The next will appear in
the issue of
December
19.
*
1
1
Latest
Gross Earnings by Weeks.— The
earning.s in the foregoing table are separately
latest
-weekly
summed up
as
follows:
The roads wrhich have thus far reported their earninj;s for
the 3d week of November show a gain of 8'34 per cent in the
aggregate.
3d week of
1890.
1891.
Noteinber.
rncrease,
S
Bait.
<fe
Ohio Southwcst'n
BolTalo aoch. APitisb...
Canadi.an Pacific
Cape Fear & Yadkin Val.
Chesapeake & Ohio
Chicago & East. Illinois
Chicago Mil. & St. Paul
Chicago .St. P. & Kan. C.
52,303
51,186
485,000
13,608
178,777
00.400
740,404
110,250
180,300
0,770
22,806
51,079
9,885
410,594
47.883
0.774
63.523
73,360
32,701
415,680
51,48:
113,008
8,472
146,163
72,387
60,885
40,59«
229,126
539,000
60,612
1 08.003
006.168
18,255
43,193
51,500
114,720
167.48H
C,293
32,031
40.370
280,00
23,539
101,471
40,015
49,073
411,000
12,569
108.71
71,800
624,174
83,025
185„5O0
5,930
21,983
47.688
4.895
391,940
37,899
0,738
53,003
60,630
20,987
370,293
58.241
93,331
6.501
136.755
83,243
64,540
29,212
201,874
491,000
49,951
109,398
022,575
Decrease.
S
6.253
.
aron Earnings.
1891.
.
-Jiet
Bamingt."
1890.
Roads.
8
S
8
«
Blr.Sheff.ATenn.R. .Rept.
19.828
14.580
6.843
2.513
Jan. 1 to Sept. 30...
101,093
14I.-203
36.743
52,272
Ohlc. Mil. A St. Paul.. Oct 3,470,030 2.905,771 1, 572,0 J4 1,175,991
Jan. 1 to Oct. 31. ..23,354.027 21,700,504 7,789.933 6.928,308
July 1 to Oct. 31... 11, 246,823 10,032,155 4,232,106 3,616,349
Cln. Wab. A Mich...Sept.
77,803
51,628
19,921
18,895
Jan. 1 to Sept. 30...
19-2,843
544,893
444,977
Cleveland A Canton. Sept.
71.992
59.438
23,110
25,135
J.an. 1 to Sept. 30...
530,233
412.457
1S5.521
146,183
July 1 to Sept. 30...
210,191
166,084
77,448
64457
Colorado Fuel Co
Oct
30,015
31,555
July 1 to Oct. 31
9^086
87.052
E.Tean.Va.AGa.a..Oct.
701,590
704,080
205,887
240,880
Jan. 1 to Oct. 31... 5,8S3,806 6.141.597 2,027,224 1,718.653
July 1 to Oct. 31... 2.420,503 2,031,010
713,824
749,818
Internat'l
July
A
Gt. Norlh'n—
Sept. 30... 1,049,147
1 to
2,113
Jaok.Tam.AK. W...Oct.
74.000
1,039
10,060
Kan.C.Ft.8.AMem..Oct.
Jan. 1 to Oct. 31...
July 1 to Oct. 31...
11,400
1890.
1,022,281
39,714
6-'l,291
481.933
171,797
130,933
500,887
451.073
3.895.747 3.997.133
55,462
1891.
233,110
97,266
21.206
7,073
90,023
207,054
55,919
3.637
194.031
138,320
1,131.544 1,120,427
54 ,079
469,200
22,311
14,923
120.775
82,821
•127,094
'348.399
Jan. 1 to Oct. 31...
Jnlv 1 to Oct. 31... 1,064,-240 1,646,649
31,8r.l
A West'n.... Sept.
41.575
Denver* Rio (jrande...
5,200
Jan. 1 to Sept. 30...
298.503
202.009
Evansv. <t Indianapolis
83 4
W.T.L.E.AWest«rn.Rept. 2,935,317 2,569.733
Evansv. & Torre Haute..
82J
Jan. 1 to 8ept. 30. ..22,185,801 21,306.902 * ,27.-»,90:t 0,9-27,545
Flint & Pere Marquette..
3,391
Oct. 1 to Sept, 30... 30,000,699 29,003,933 *9.846,764 *9.562,984
Ft. Worth A Rio Grande.
4,99.1
Grand Trunk of Canada..
18,051
75.361
N. T. Bus. A Wesfn..Oct.
159.151
10.3.228
80.744
Iowa Central
9,939
616.305
571,037
Jan. 1 to Oct. 31... 1.377.701 1.310.916
Kanawha & Michlean
30
2.474.761
2,637,849
Pennsylvania
Oct.
6,408,160
6,192,901
iialte Erie* Western
4,9U
Jan. 1 to Oct. 31. ..53,935,283 33,-237,072 17.935,314 17,483,960
Long Island.
6,730
Inc. 290.187
Llneswe3tofP.AE..Oct.
Inc. 302.439
liOuisv. fivai.sv. & 8t. L.
5,714
Inc. 509,703
Jan. 1 to Oct. 31...
l>eo. 991.632
Louisville & Nashville...
30,385
Louis. N. Albany & Chio.
6.758 Phila. A Reading.... Oct. 2.246,919 2.1-23.S31 1.149.501 1.017.051
Louisville S. 0. & Texas.
20.27;
Jan. 1 to Oct. 31. ..18,217.333 17,3.33.753 8.453.033 7,657.186
Louisville St. L.&Texas.
l.OOi
Deo. 1 to Oct. 31... 19,903,44 5 19.038,701 9,157,735 8,322,686
Mc-Yican Central
9,408
153.112
242,351
Coal&IronCo
Oct. 2.673,133 2,151,900
Mexican National
10,858
300,882 df. 113,048
Jan. 1 to Oct. 31.17,285,414 15.585.707
Milwaukee L.8I1. & West
.
.. ..
3,653
df .216,635
270,750
to Oct. 31.18.891.792 10.960.303
Dec.
1
Milwaukee drNonhcrn..
11.356
Total both Co'8.. ..Oct. 4.920.052 4.275.731 1,391,852 1,170,163
Mo. Kan. & Tei
27,232
Jan. 1 to Oer. 31.35.502.749 32.909.465 8,71 -,968 7,469,137
4'<.000
Mo. Pacille & IronMt...
Dec. 1 to Oct. 31.38,705,237 35.999.003 9,423.483 8,106.151
N«w York Ont. A West.
10,661
Norfolk A Western
1.335 Pittsburg A West.. tSrpt.
65.388
(34,501
147,535
133,431
•Sortnern Pacihe
16.407
439,489
Jan. 1 to Sept. 30... 1,098,387 1,091,432
t28'2,833
Peoria Decatur .tKv.insv.
13,.541
4.714
50,S82
7.905
39.115
18.265
Pitts. Clev. A Tol .fSept.
Pittsburg A Western
47,427
4,232
354.963
123,879
71,899
359,530
Jan. 1 to Sept. 30...
Uio (Brando Western...
44,200
7,300
3,463
2.175
F.tSopt.
30,100
23.676
Pitt8.Paln<w.A
Bt. Louts Southwestern...
94.273
20,447
60,61O
231,343
211.194
»12,16l
Jan. 1 to Sept. 30.
551
Texas A Pucitie
108.037
Toledo Col. & Clocinnati.
6,370
78
190,221
t48.2»l
63,467
ISept
228,067
Total system
Toledo A Ohio Central..
612
32.022
t31'','?76
581.89^
Jan. 1 to Sept. 30.. 1.639,816 1.037,591
Toledo .St. I,. A Kan.Clly.
3 1.5:01
6,031
637,173
603J.53
Rich. A Danv. Sys. ..;Oot. 1.396.304 1,370,354
Wabash
33,000
233.000
4.825,956 4,726,193 >.«7o.05O l,7a6.84»
July 1 to Oct, 31
Wheeling A Lake Krie...
891
22,098
24.500
41.100
0,315 Rio Grande South'o-.Oct.
Wisconsin Central
110,786
23,011
27,176
Oct.
59.263
81,738
8kT. Am. A Mont
531.712
69,789
Total (43 roads)
104.444
14S,6«»
396,975
6,001,575 5,539,6.32
Jan. 1 to Oct. 31...
41d.3'J9
83.073
77.304
105,009
July 1 to <>ct. 31...
134.462
40l,92(
Net increasei8-34p.o.)..
59.000
60,900
Tenn. Coal A Iron Co. Oct
* Business Interrupted three days by washouts.
530.300
715.40O
Jan. 1 to Oct. 31...
IS.O'il
3.263
5.555
17.627
Midland
Tenn.
8ept.
For the second week of November the aggregate in our
14.7-20
13,674
55.256
54.343
July 1 to Sept. 30...
final statement embrace 88 roads and the result is a gain of Tcrre Hante A Peo.Sept.
34..371
l'A771
82,403
268.646
Jan. 1 to Sept. 30...
10-06 per cent over the corresponding week last year.
.
.
.
.
122,230
21,625
1
Keokuk
.
I
.
.
—
. .
.
.
THE CHRONICLE.
792
roads, u,
Interest Charges and Siirplus.-The following
above, also
addition to their gross and net earnings given
or deficit
report charges for interest, &c. , vrith the surplus
above or below those charges.
,-InterH, renlale, etc.-. ^Bal.of Net Earv^.1890.
1891.
1890.
1891.
S
Roadn.
Cin.Wab. & Mich... Sept.
July 1 to Sept. 30...
Kan. C. Ft. 8. & M...Oot.
July 1 to Oct. 31...
Tenn.Ooal &. Iron ^o Oct.
.
.
Jan. 1 to Oct. 31...
13,333
39,999
89,606
364,277
36.000
360,000
50,269
108,790
33,900
356,400
After deductlne oroportion due roads operated on a percentage
S.pte,Sl.er,?«91, was *229^
months to September 30, $-.,391,982, agamst $5,008,831, and
October 1 to September 30, $7,259,697, agamst $6,918,883 last year.
a Including Knoxvllle & Ohio.
j
^ ,
,
_,
large amounts spent in improving roadT The company reports that
bed, Ac, have been charged in operating expenses,
Paeittc and all other roads.
; Including Georgia
«
bae^" et?n
S
$
2,214,683
73,736
50,631
558,511
655,187
1,634,459
836.223
561,272
1,809,313
575,724
408,776
1,702,142
comps.
—
3,714,835
5,768,978
4,262,842
2,214,683
854,523
100,000
995,015
100,000
1,110,576
Bills receivable
Materials and supplies
Due from
1891.
$
440,760
106,141
133.000
440,007
1890.
1889.
Current Assets—
Chicago A Erie EE
N. Y. Pa. A Ohio RR
10.^,295
freight and pasi'r
agts., Ac. (coll'bleluOct.)
Dnefromindivids.
A
Cash
6,587
35,302
104,425
177,402
23,600
190,800
88,051
360,410
36,000
359,000
[Vol. Lin.
Total current assets
C&ntinpetii Assets
—
Chicago A Atlantic E'y Co..
Other comps. for advances.
Mortgages on real estate...
N.y. L. E. A W. Coal A RE.
Co. (oper'g and int. acc't).
Sundry individs. and comps
Erie coal companies, Ac
291,312
182,858
973,486
950.076
490,710
100,000
267,422
220,361
263,796
1,204,627
1,341,898
for 9
4,616,862
2,787,425
2,816,264
179,024,798
179,528,799
180,257,897
Total contingent assets.
Total assets
J
Now a " current asset."
LiabiHHes.
1889.
1891.
1890.
$
Common stock
Preferred stock
Bonded indebtedness.
Deferred liabilities—
Bills payable
Sundries
ANNUAL REPORTS.
New York Lake
CFor
Erie
& Western
Railroad.
the year ending September 30, 1891.^
The annual report of President King is quoted elsewhere in
the Chroiocle and merits the careful attention of every
holder of Erie securities. This is the best report made since
the last readjustment of Erie finances, and the present outlook
for further improvement in earnings and financial strength
seems excellent.
statistics of operation below, compiled for the ChronOhio and all
include the New York Pennsylvania
the percentages
leased lines, as do also the gross earnings
due these roads, however, have been deducted before making
tiie net earnings.
The
&
IC3I.E,
;
OPBBATIOKB.
1888-89
1889-90.
1890-91.
1,632"
1,638
1,698
13.256,671
11,833,791
13,756,292
313,531 ,726 335,828,080 367,600,602
21,585,818
24,127,160
24,911,696
3,165,241,537 3,519.487,477 3,640,633,844
Miles operated Sept. 30
Passengers carried
Passenger mileage
Freight (tons) movedFreight (tons) mileage'
*
Figures Include
all
,
KARNraOS AND EXPENSES.
Eaming$incl.aUle(ued
1888-89.
1889-90.
lines and branches—
$
$
1890-91.
9
General freight
Coal
Passenger
Mall
Express
Miscellaneous
13.441,460
7,110,800
5,301,378
277,924
506,375
366,469
15,546,279
6.827,120
5,569,508
299,804
462,261
363,963
15,142,630
7,717,010
5,940.112
299.640
430,531
540,776
Total gross earnings
Prop*n paid leased lines—
N.Y. Penn. & Ohio
Buffalo & Southwestern
Susquehanna Br. & E. June.
Pateraon & Newark
Korthern of New Jarsey
27,004,406
29,068,935
30,090,699
2,045,217
86,483
51,033
101,448
2,227,151
146,871
78.336
51.071
110,672
Total paid leased lines..
Leaving as gross revenue..
Operating expenses
2,409,133
24,595,273
2,614,101
26,454,834
2,587,066
27,503,633
2,777,098
2,056,914
5,311,435
7,221,459
4«7,518
3,071,523
1,987,841
6,01 2,387
7,917,318
516,882
3,128,812
2.173,022
6,172,025
8,228,869
541,408
17,864,424
6,740,849
19,505,951
6,948,883
20,243,936
7,259,697
66-1167
67-1024
67-2763
—
Maintenance of way
Maintenance of cars
Motive power
Transportation expenses...
General expenses
Total
Net earnings
Per cent of operating expenses to
(o(aJ j/ro»»
earns.
2,185,143
146.729
82,598
54,041
118,555
COMPARATIVE STATEMENT OF PROFIT AND LOSS FOR FISCAL TEARS
ESniNO SEPTEMBER 30.
1888-89.
188990.
1890-91.
Credits—
$
S
$
Earns, main line A branches
24,595,273
26,454,834
27,503,63.'!
Working expenses
17,854,424
19,505,951
20,243,936
Net earnings
Pavonia ferries earnings.,
Interest on securities
Other credit items
Total credits
Debits—
Pavonia ferries- expenses.
Interest on funded debt
Weehawkcu docks— Interest
Interest on loans
Interest on tnortgas^es, Ac.
6,740,849
343,759
432,656
300,089
6,948,883
360,557
454,589
274,870
7,259,697
385,094
385,041
269.298
7,817.353
8,038,899
8,299,730
269.9il0
341.627
4,693.021
55,245
164,750
6,787
319,488
1,220,884
119,S75
55,692
201,275
323,902
4,688,880
18,415
114,592
7,1 75
294,438
4,706,836
5.'j,-i45
Claims of prior years
Other debit items
40,484
6,410
314.563
1,2)6,055
9 .802
100,244
251,008
Total debits.
Buiplns
7,042,577
774,776
Inter'-st
on equipment
Rentals of leased lines
Taxes
1
7,178,644
860,254
BALANCE SHEET SEPT.
l,51S,0'<fl
12(1,239
51.955
156,610
7,294.332
1,005,378
1889.
Of
165,121.358
2,785,115
1890.
$
RR. Co.
2,084,646
other companies..
3.i6,862
837,670
A
348,l'.i0
10.000
26,209
10.000
12,598
36,858
36,209
28,598
2,364,3.57
2,284,633
5,394
1,342,066
Traffic balances, freight
Traffic balances, passenger
5,394
1,346,560
269,188
671,446
157,8i0
103,368
147,569
1,072,223
618,918
43,668
1,849.866
5.394
1,355.066
181.164
732,728
123,448
156,937
158.640
1.156,706
853,969
52,433
6,800,541
8.496,854
6,626,360
9,168,404
7,354,529
9,264,786
179,024,798
179,528,799
180,257,897
Total deferred liabilitiesi
Current liabilities
bills payable.
Dividends
Bond interest due or acc'd.
Other Interest
Rentals due or accnied
—
Mileage
Pav-rolls for September
Audited vouchers
Miscellaneous
Total current liabilities. .
Profit
and
l^)ss
surphis.
.
Total llabUitles
265,027
668,969
120,839
65,245
264,370
1,196,27T
1,089,680
51,691
Great Northern Railway
{"For the year ending June 30, 1891.^
The annual report of President J. J. Hill will be found elsewhere in the Chronicle, showine: net income for the year
1890-91 of $4,818,109, against $4,583,874 the previous year. All
the details of the company's operations and financial condition are given in the President's report, but we have additional information concerning the St. Paul Minneapolis
Manitoba land grant in the report of that company, as fol-
&
lows:
Acres.
Total acreage of land grant as construed by U.
Land
1591.
$
167,352,994
3,265,625
673,878
4*(8,02O
1,398, -275
8.
„ .„„ oi i
3,479,611
Office
Total acreage deeded to
30,1891..
•ompany
prior to
8.
Supreme
365,860
2,833,637
Net acreage deeded
Total acreage sold prior to June 30, 1891
Less sales canceled
Remaining unsold June
30,
June
3,199,498
Less decreed to Northern Pacific by U.
Court March 2, 1891
2,022,160
179,205 1,842,965
1,636,656
1891
Of the lands deeded about 118,000 acres are in controversy
Northern Pacific Railroad Company. Of the
with the St. Paul
lands not yet deeded 102,373 acres are lands lying within the
limit of the grant on the Dakota side of the Red River Valley,
the right of the Co. to which was established by a recent
deci-ion of the Supreme Court of the United States. The residue of the undeeded lands is in process of adjustment with
T-he company will secure indemnity for
the Government.
lands in lieu of those decreed to the Northern Pacific Railroad
Company to the extent to which lands in the indemnity limits
of the grant can be found available for that purpose.
During the year ending June 30, 1891, 110,993 acres of land
were sold for $814,092, an average price of $7-33 per acre.
There were also sold 356 town lots for $14,926, an average
price per lot of $58 31. Cash receipts of the Land Department
were $370,769, and net receipts, less expenses, $306,729.
Amount of deferred payments due this company June 30,
1891, on land and town lot contracts bearing interest at 7 per
The total number of sales durin'^ the year
cent, $1,328,720.
was 1,585, with an average of about 70 acres to a piucliaaer.
&
The earnings and expenses of the Great Northern RR. compiled in the usual complete form for the Chronicle are shown
below for four years. The Great Ncrthc^rn proprietary lines
are not included here, being stated separately by the company.
The results are published on another page of this issue
:
1887-38.
2,648
oper. June 30.
MUes
Equipment—
210
210
1888-89.
3,030
1889-90.
258
224
259
2,789
1890-91.
2,808
259
223
224
Ac. cars
8,991
8,2i>9
Freight, Ac, cars... 7,951
8,253
Operations
1.995.515
2,198,428
2,281,331
2.229,421
Paas. carried (No.)..
Pass curried 1 mile. 73,849,169 72,711,983 73.458,977 82,3--'7,486
2-279 eta.
2-415 ots.
2-46 cts.
2-57 cts.
Av. rate p. pass. p.m.
2.280,:<82
2,<i(i9,42S
2,324,900
Pr'ght (t'nij) carried.
1,907.101
Fr'gbt(i'n9)c;i,r.l ra.5,59,795.053 407,068,580 540,059,827 616,28i!.817
1-238 cts.
l-SOcts.
1-49 cts
l-280cts.
Av.ratcp.tonp.m..
Pass..
165,959,071
3.213,115
340,620
1,121,918
Bonds ownid
Advances to Coal
Do.
Ac
10,000
26,358
Loans and
Locomotives
30.
Assets.
Total cost of road,
Stocks owned
77,404,900
S.536,600
77,756,o25
,
merchandise, Ac, except that for company's use
144.9ii4
77,395,200
8,536,600
77,759,245
77.414,500
8,536,600
77,664,88*
—
—
.
NOTRMDER
n-..!'
ISS7-HS.
18S8-H9.
1
HHU-00.
isnom.
$
»
1,')2H.283
l.HOO.flflfV
1,771,508
1,87(1,0(10
7,a77,;WJ
(1,075,037
(t,DIS,107
Mull. .xpr's.r'nU.io
7,(fJ8,()U
461,310
6ll,0<U
UM.ao.t
T7«,743
esms.
0,801,905
8,590,800
9,374,000
10,281,714
|M-I«!il
Totnl Kro8s
Kxfirnitrg
M:iiiit
Miinl
i.f
r
r
—
wny, *c..
oa™
Mi'tiNr power
Truiixpoi tntloQ
^
1,415.800
497,706
1.133,372
77e,,'i00
424,420
l,757,im
l,.'i3l),2'll
487,517
1.478,010
898,150
487,073
263.921
1,197,413
l,24vs.490
400.033
248,591
1,213.001
513,070
1,028.016
1,302,052
531,020
274,351
470,587
299,051
General
Taxes
Total
Net earnlniM
F.ot, of ozp.to earns.
:
5,419,080
4,141,019
5e-68
5,000,000
4,791,124
3,5S0,499
4,582,870
58-23
51-11
INCOME ACCOUNT 1890-91.
N«t eatnlnfn
Interest on bonds owned
DlvldenclH on Btocks owned
-
'..'.'.'.'.'.'.
Other Income
many
years ago.
had.
The money
This is the flmt dividend
to \» luod in paying th
frotn a saving in refunding a portion of the
ton Concord
Montreal corporation.
1
&
1890.
1601.
6.880,898
4,000,896
.l,77.^,010
l,e78,.W»
144,796
4,990,201
103,017
331,677
5,063,540
341,401
Total Insoins.
1,878,927
iDtsrest, rentals
tszes.l,0e7,517
2,019,297
1,109,295
6,311,878
S,S23,103
6,404,941
8,234,901
900,003
2,089,775
2,170,040
.
811.410
:
year,
show
to
as follows:
1
November
Gross earnlnifs
Neteamlnps
Charges and taxes
•.
8un)lu»
1,
—The
earning.^ for ten
comparison with
in
last
1890.
$1,938,908
1891.
*2,050,892
$078,333
465,701
$769,303
466,204
$212,572
$303,099
—
Boston & Maine. The report for the quarter and year
ending Sept. 30 shows the following:
Gross eamlnRs
^Ttarend. S*pl.30.^
18!I0-91.
15,13 1,3'<8 16,240,513
9,836,060 0,984,079
Operatini? expenses
4,563,708
2,824,344
4,421,761
2,721,924
Net earnings
•therlncome
1,730,424
130,194
1,090.837
150.838
1,869.618
977,586
1,847,725
96S,05l
892.032
879,084
1,056,293
1,782,207
Total
Charges
Sarplus
365,S09
5,250.431
385.«2l
5,664,131
5.642.258
4,Oti7.>i38
3,860,0.-il
5,20-',3i2
Chicago Rock Island
Paci He— There have been listed
this week on the Stock Kxchange $1,470,000 additional first
mortgage extension and collateral flve.i issued for the construction of the extension during 1889 and 1890, from Pond
Creek to Minco, Indian Territory. The company have also
sold and listed on the Exchange $2,000,000 debenture fivei,
IK,
part of an authorized issue of 110.000.000, to proviile for etterments, etc. This is all that will be issued at present. See
details in Investors' Supplement, issued to-day.
1
Western.—The annual meeting of
A
the 24th.
dividend of 3 per
another page.
New York Stock Exchange—New Securities Listed.—The
Governing Committee of the Stock Exchange have listed the
following securities
Atlantic A Facipio Railroad Cohp ant's additional issne of guaranteed trust 4 per cent gold bonds, $1,117,000, making total ambunt
listed to date .'H8.727,0O0.
Chicago Rock Island & PACirtc Railway Coscpakt's 5 per cent
30-year debenture bonds, $2,000,003; also an additional Issue of flnt
mortgage extension and collateral 5 per cent bonds, $1,470,000, maklUK total amount listed $34,089,000.
MiSNi sciTA Ir'.n Cdhpant's capital stock, $2 500.000.
Nashville Florrncb ABqeffikld Railway Coxpaht's additional
issue of 5 per cent gold bonds, $170,000, making total amount lifted
ijlJ.OOH.OOO.
Orkoon & California Railroad Compant's additional Issue of first
mortgage 5 per cent gold bonds, $391,000, making total amount listed
$17,045,000.
RO.ME Watertown
A OoDENgBOBO RAILROAD CoMPANT's additional
Issue of first cnnsoli lated
amount
mortgage bonds, $2,021,000, making
total
listed $9,081,000.
& Reading.—The statement for October and
months of the fiscal year shows the following
Philadelphia
for eleven
:
October.
Railboad Company.
,
1890.
1891.
S
$
,
Dee. 1 to
OetSl
.
1890-91.
1889-90.
$
$
Gross receipts
Oross expenses
2,123,831 2,240.919
1,100,780 1,097,418
19.038.701
10,710,014
19,903,145
10,745.710
Notearnlngs
Other net regeipts
l,017,o.')l
1,149,501
70,"4l
8.32.',0s7
9,157,786
48,214
471,189
429,114
1,065,265
1,220,242
8,793,876
9,580,849
39.470
598,503
59.308
622,749
.^58,903
493,966
6,583.551
6,800,791
03r.975
427,290
682,117
544,125
7.143,514
1,651,362
7,394,747
2,293,103
2,151,900
1,918,757
2,337,921
Total
Deduct—
Pcrnianont improvem't
I'roport'n year's charge
TotaL
Co.
Operating expenses
18H9-90.
$
and 6 per cent interest on the inThe old board of directors was reelected, the Mills-McCullough committee voting 300,604 shares
of stock, common and preferred, and $25,465,300 of bonds,
and President King voting on 285,699 shares of stock and $6,179,200 of bonds. The annual report presented by Mr. King
was very favorable, as may be seen by reference to it on
The company reports that about a raillii n dollars has been Birplni
expended for betterments and equipment from the fund reCoal A Iron
Oross r.-celpts
ceived from the reorganiz ition committee.
^Ouar.eiid. Sep<.30.—
1890.
1891.
i89X.
9
U
interest on the Terminal
bonds, but this is not confirmed at the office. The Tribune
" The Baltimore & Ohio Company has indispatch said
formed the Illinois Central Company that it does not propose
to renew its lease of the Illinois Central tracks from Parkside
to the city.
The Baltimore & Ohio Company has also concluded negotiations veith the Rock Island Railroad Company
for the use of its belt line terminating at South Chicago and
extending to the Panhandle road westward. By means of this
belt line connection the Baltimore & Ohio Company can reach
the Northern Pacific tracks at about Eighty-ninth Street.
Until the Northern Pacilic tracks to Harrison' Street station
from Seventy-first Street are comoleted, the Baltimore & Ohio
cars will probably be run into the city over the Panhandle
route to the point where the latter connects with the Northern
Pacific line north of Brighton Park, The switches are already
in and the connections are made.
" What the nature of the bargain is between the Baltimore
k Ohio Company and the Northern Pacific, and the Biltimore
& Ohio Company and the Rock Island Company, is not known.
Of course the officials refuse to speak on the question. There
ia no doubt, though, that the use of the Baltimore & Ohio
lines from South Chicago to Seventy-fifth Street, and from
that point over the proposed new line to the World's Fair
grounds, is part of the consideration. The Rock Island Company has already made its connections with that object in
view. It is probable, too, that an ordinance giving the Baltimore & Ohio Company the right to lay tracks from its line at
Ninety-fifth Street to the World's Fair grounds, midivay between the Lake and Stony Island Avenue, will be introduced
in the council next Monday night."
Ohio Sonthwestern.
1890.
15,188,023 15,430,445
10,198,722 10,306,900
Lebanon Springs—The County Judge at Saratoga, Rensselaer County, N. Y., has made an order authorizing William
V. Reynolds, receiver of the road, to issue bond-i t<i the amoimt
of $200,000 to repair the damage to the road caused by the
flood of Aug. 27 last.
The road is 28 miles in length, running
from Chatham to Bennington, Vt. The flood of Aug. 11 destroyed
miles of track, and only two weeks ago temporary
repairs were completed which allowed passage over the entire
road. Railroad Oazette.
RE
Baltimore & Ohio— Northern Paeiflc— The terms of agreeNew York Lake Erie &
ment between these companies for the use of terminals in
Chicago have not yet been given out by the ofScials. One re- stockholders was held on
cent
on the preferred stock
port says that the Baltimore & Ohio agrees to pay a sum equal
come bonds were declared.
to 1'69 per cent of the 5 per cent
&
came
of the Bo«-
5.205,078
3,480,103
Surplus
GENERAL INVESTMENT NEWS.
Baltimore
ever
i.-w
.,d
(iol>t
liale Shore k Michigan Houtbern.—The gross and
net
earnings and chargos for the quarter and nine months of
tbe
fiscal year were as follows
~Quar. tiut. Sept. 30.^ —9 mo. tnd. atpt, ao.s
A
11!!!"..'
Total
lyisbursementD—
Rent of St. Paul Minn. 4M»n.
Dividends (314 per o«nt)
Miaoellaneous
(oncord * .Mont real. -The directorH have dc'clare<l » dividend of a per cent on the stwk of clast 2. Thin waa
formerlr
BoBton U)ucord & Montreal new itock, and It wat
cnmxmA
Net •mings.
Othsr Inooms
''"
.'".'
Ront.ilx iif lonxed lines
Interest and exchange
Bills reoeivnble
793
dross esmlnas
Operating expensas
lieeeipls—
months, January
'
THE CHRONICLE
28, 18S1.]
Kami not—
1':.--
:
...
2,073,1.33
16,960,302 18,891,792
16,370,944 17.645,M39
233,143
335,212
589.358
1,245,953
c;olll<<iTim|irovement«.
80,031
805,893
rermanenl Improvem't
Propon'n year's ch'rges
68,511
85,000
7,801
0^,000
824.418
150,789
748,000
100.801
148,512
Total
Dof. of Coal A Iron Co. •ur.84,0il 8r.l74,3,'il
544.125
427,290
Hiirplus of Uallroad Co.
1,550.509
970,1.-|1
477.349
1.051,:J62
2,392,103
718,470
681,311
1,814,863
Net earnings
Deduct—
Bol.bothcompan's.
611,881
753,616
1,723,203
Tirginia Debt— On Wednesday the Advisory Board met
and appiovfd of the plan of settlement agreed uoon by the
Bondholders' Committee and the State Debt Comnii-"'"" 'la
is
wo give the facta covering the n
in
led UD to this agreement,and corami-nt
u{K)n it in the editorial columns. The report will now U* 3c*nt
to England for the approval of the Coiiimis»ion f<>r English
erf ditors. consisting of Sir John Lubbock, Bxiward Lidderlale
subsequent |iagt8
which have
and John Uenry
tr
£)aniell.
Var ther Kallroatf
<
laveaiaiaat
Haw*
<
I
Pa««
!HI4.
—
—
:
:
THE CHRONICLE.
794
iVoi^ nil.
BrougTi t forward
-wiiicli deduct proportions due to
leased lines which are worked upon a
?jo,090,«j;/r
From
NEW YORK LAKE
lUDPOKT FOR
To
the
Bond and
ERIE
& WESTERN
THE YEAR ENDING
liepceutafro of eai'niners
York Peiinsjlvauia
RR. CO. New
Buffalo & Southwestern
Susiiension Bridge
SEPT. 30, 1891.
&
Ohio
$2,185,142 71
14(i,729
Erie Junction
1891.
New York Lake
Erie
&
-20
82,597 76
54,041 39
11S,555 07
Paterson & Newark
Northern BK. of New Jersey
New Youk, November 24,
Share-HolAers of the
&
$2.587.'- 66 13
Leaving theamountaccrulngtoK.Y.L. E.&W.RE.Co.f 27,503,63 J 38
The entire working expenses have been
Por ConrtuctinK Transportation
$8,228,869 31
Motive Power
For
6,172.024 67
operations of the Company for the fiscal year endmg Septem- For Maintenance of Cars
2,173,021 71
Maintenance
ITor
of
W'aj
3,128,61187
ber 30,1891:
,..
,.
,
lUU pei For General Expenses
541,408 04
including
system,
entire
the
of
earnings
gross
The
20,243,935 60
and
cent of the New York Pennsylvania & Ohio Rilroad,
Net
Earninssfrom
Traffic
$7,269,697 78
have
been—
branches,
and
lines
leased
other
all
To which add eamiugs from other sources, aa stated in
detail on page 54 of report
1,040.032 62
From General Freight
^'^M^SS^S ?2
From Coal
$8,289,730 40
H5n'??9
l!
From Passengers
From which deduct amount for interest on funded debt,
^'^iVAl^ li
From Mails
?l*H'-'o? Si
fixed rentals of leased lines, and other charges, as
4 o0,;^31 33
From Express
stated in detail on page 55 of report
7, 294, '152 60
FromMlacellaneous
_!!?:I^ ^^$30,090,699 51
Leaving the Surplus for the year
$1,006,377 SO
Western Railroad Company
of Directors submit herewith
The Board
:
their report of the
.
COMPARATIVE STATEMENT FOR THE LAST SEVEN FISCAL YEARS.
Fiseal Tear
Fiscal Tear
Fiscal Tear
Fiscal Tear
Fiscal Tear
cn'iing
ending
ending
ending
ending
1886.
Sept.
30, 1887, Sept. 30, 1838. Sept. 30, 1889. Sept. 30, 1890, Sept. HO, 1891.
Sept. 30, 1S85. Sept. 30,
Fiscal Tear
Fiscal Tear
ending
cndinq
GBOSS EARNISOS, 1^•CLDDI^G 100 PER
CEST of N.Y. p. & O.. AND i.LL OTHKB
Leased Lines asi) Bbakcues—
General Freight
Coal
Passengers
Mail
Express
Miscellaneous
Total
Less Propobtioks due to Leased
Lines which ark worked upon
Percektage or Earnings—
New York Pennsylvania & Ohio
Buffalo & Southwestern
Suspension Bridge <fe Erie Junction.
Paterson & Newark
Northern Railroad of New Jersey...
Total
9,984,781
5,088,555
4,547,703
250,729
515,723
445,591
11
45
94
65
12
48
10 13,304,401 82 12,212,633 43 13,441, 460 04
88 6,846,342 38 8,290.098 92 7,110, 709 68
54 5.195,840 56 5,247,853 46 5,301, 378 29
80
265,666 25
264,381 45
277, 921 30
94
4 55,468 87
566,720 73
500, 374 97
51(i,o«9 33
500,138 80
636,295 71
366, 468 67
12,211.395
6,264,905
4,988,363
261,735
507,090
546.579
827.120
15,142,630
7,717,009
5,940,112
299,639
450,531
540,776
,569,507
299,803
462,201
363,962
27
78
14
87
33
12
20,833,084 75 24,756,066 59 26,567,858 74 27,217,989 75 27,004,406 01 29,068,935 02 30,090,699 51
1,621,044
102,304
46,589
39,007
89,505
79
7
29
2
98
1,898,512 04
14
19
4S
84
2,036,840 61
21
102,666 01
2,256,018 8B
2,357,501 24
1,971,554
90,831
53,106
45,035
95,401
106,>i07 04
63,065 5
48,f;62
06
2,040.949
134,51S
59,605
49,398
100,698
41
23
61
55
15
2,335,169 95
58
05
47
53
!,227,150 61
51
110,672 04
2,409.132 74
2.614,101 19
2,045,216
144,903
66.483
51,032
101,446
1,185,142 71
146,729
82.597
54,041
118,555
146,s70 f.6
78,336 45
51,07143
20
76
39
07
2,587,066 13
leaving the amount which accrued to
the N. y. L. E. & W. RR. as Revenue. 18.934,572 71 22,500,047 73 21,210,357 50 24,832,819 80 24,595,273 27 26,454,833 83 37.503.683 38
Working Expenses—
Conducliug Transportation.
Motive Power
Maintenance of Cars
Maintenance of Way
General Expenses
Total.
Percentage of Working Expenses to
Gro:8 Earnings
Not Earnings
To which add earnings from other
sources, p. 54 of report
Total
5,964,474
4,158,186
1,305,863
2,369.045
549,946
56
59
65
38
55
6,524,100
4.306,219
1,945.384
3,124,506
488,308
37
00
03
32
4"
7,128.048
4,773,364
1,817,083
3,200,677
471,498
6!)
93
54
52
02
Leaving the results for the year
87
29
30
34
07
7,221,4.59 15
5,311.435 21:2,056,914 15
2,777.098 26
487,518 13
7,917,317
6,012.386
1,987,840
3,071,523
516,882
88
82
60
20
31
8,2:8,869 31
6,172,0:i4
67
2,173,021 71
3,128,611 87
541,408 04
14,347,516 73 16,388,638 14 17,390,672 70 18,003,469 47 17,854,424 95 19,505,950 81 20,243.935 60
68-8089
66-2005
65-4575
66-1454
66-1167
67 1024
67-2763
4,587,055 98
6,111,409 59
6,819,684 80
6,829,350 33
6,740,848 32
6,948,883 02
7,259,697 78
1,002,69166
946,459 64
940,658 48
937,840 63
1,076,504 64
1,090,016 24
1,040,032 63
5,589,747 64
7,067,809 23
7,760,343 28
7,767,100 96
7,817,352 96
40
8,033,899 26 1^99,730
6,966,691 19
7,04.3,258 28
7,158.544 10
7,028,348 44
7,042,576 51
7,178,645 22
From which deduct
for interest on
funded debt, fixed rentals of leased
linos and other charges, p. 55of rcp'rt
7,263,733
5,607,325
1,818,748
2,843,142
470,519
1,376,943 55
OeHcit.
14,610 95
Surplus.
601,799 18
738,842 52
774.776 45
860,254 04
Surplus.
Surplus.
Sui-plus.
Surplus.
7,294,3.52
60
1,005.377 8
S"n>'"g-
The Gross Earnings of the Entire System, including 100 per
The Surplus for the year was $1,005,377 80.
cent of the New York Pennsylvania & Ohio and all other
As compared with 1890 an increase of
$145,123 76
leased lines and branches, for the year ending September 30. As compared with 1889 an iucrease of
230,60135
As compared with 1333 an increase of
1891, were §30,090,099 51.
266,535 28
As compared with 1337 an iucrease of
403.578 Hi
As compared with 1890 .an increase of.
990,766 83
1,021,764 49 or 3 51-100 As compared with 183S an increase of
As
As compared with li?89 auiacreaseof
compared
with
35
1885
-2,382,321
an Increase of
3,086,293 50 or 11 4.1-100
As compared with 1888 an Increase of.
2,872,709 76 or 10 5.5-100
Western
The Gross Earnings of the New "fork Lake Erie
As comimrert with 1887 an increase of
3,-^22.840 77 or 13 26-100
Railroad, and branches (exclusive of the New York PennsylAs compared with 1880 au increase of
5,334,632 92 or 21 55-100
As compared with 1885 an increase of
Ohio), for the year ending September 30, 1891, were
9,257,614 76 or 44 44-100 vania
The Revenue accruing to yom- Company, after deducting $33,015,857 05.
An increase, as compared
$1,180,906 98
the proportions due to leased lines whicli are worked on
1890. of
a per- An increase, as compared with
2,402,752 72
with 1889, of
^°'' ^^^ ^^^^ ^""^'"^ September
2. 175,-^34 21
30, 1891, was An increase, as compared with 1838. of
38'
$27
2,813.12o3l
An increase, aa compared with 1887, of
4.420.897 18
$
Per Cent. An Increase, as compared with 1880, of
As compared with 1890 an increase of. ..
71
An
increase,
7,247,933
as
compared
with 18S3, of
1,048,799 .-)5 or 3 9S-H.0
As compared with 1889 an increase of.
.2.908,360 11 or 11 82100
Being from General Freight—
As compared with 1888 an increase of.
58 or 10 76-100 A decrease, as compared with 1890, of
$92,96729
As compared with 1887 an increase of.'"' .2,070,813
.3,2.1(3,275 88 or 13 60-100
1,404,382 09
An increase, as compared
As compared with 18^6 an increase of
5,003,585 65 or 22 24-100 An iucrease, as compared with 1889, of
31
2,347,039
As compared with 1835 an Increase of
with
of
8,569,060 67 or 45 25-100 Au increase, aa compared with 1888,
1,423,599 85
1887, of
The Working Expenses were $20,213,935 60.
An increase, as compared with 1836, of
2,251.715 94
An increase, as compared with 1885, of
3,659,502 23
$
Per Cent
As compared with 1890 an Increase of.
737,984 79 or 3 78-100
From Coal
As compared with 1889 an Increase of.
.2.389.510 05 or 13 38-100 An increase, as compared with 1890. of
$923,220 95
As compared with Is.ss an Increase of.
.2.240,466 13 or 12 44-100 Au increase, ascomparc'd with 1889, of
432,141 74
As comiiared with 1837 an iucrease
.2,853,262 90 or 16 41-100 A decrease, as compared with 1888, of
436,377 77
As compared with 1886 an increase of
of
.3.855,297
46
43
or
23
52-100
An
iucrease.
958,137
as
compared
with 1887, of
As compared with 1835 an increase of
5,896,418 87 or 41 09-100 An increase, as compared with 1886, of
1,543,161 22
The Net Earnings were |7,259,697 78.
.An increa.se, as compared with 1885, of
2,506,116 62
From Passenger.s
Percent
„ $
As compared with 1890 an Increase of.
310.814 76 or 4 4 7-100 An increase, as compared with 1890, of
$238,18631
As compared with 1839 an Increase
""
518,841 40 or 7 6:i-100 An increase, as comi)ared witli 1S8!», of
444,253 73
As compared with 1888 an Increase of.'"
of.
430,347
45
or
6
30-100
An
increase,
us
compared
witli
529.915 86
As compared with 1 887 an Increase of.
1883, of
440,012 93 or
45-100 An increase, as compaied with 1887, of
47(i,060 39
As compared with 1836 an increase
of.'
1.148.233
19
or
18
79-100
An
increase,
as
compared
with
747.06157
AS Compared with 1885 an Increase of.
1886. of
',4,672,641 80 or 58 2G-100 An Increase, as compared with
1,084,845 78
1885, of
&
&
mTgM
.
.
——
NOTBUBBB
From
An
—
1
Mails
ISOO, of
188», of
IRH8, of
1S87, of
IHSO, of
188S, of
»B0 2l
,
32.30»
31,878 07
DO
1-2
2U.I.V)
3O.12H0I
48,UU7HI
From Express
A
A
A
A
A
A
dorraoHO, as
(Ic'oreasc, S8
dcorcase, 08
Aocroafio, a»
dooreiiKu, aa
dccreaeo, as
comparect with ISOO, of
compared with 1S80, of
with
compared with
compared with
compared with
coni|i:ired
From Miscellaneous
An Increase, as compared with
Au Increase, as compared with
A
A
A
docreaeo,
deorense,
dccroaso,
Au Increase,
as
as
as
as
1^5
Our Truat of !r«w York,
nomparoil with
All liuToiMo, aa coiuiiari-d wlta
An iiictciise, ss coTiipnrecl with
An Itii'ivax*, as coniii.nrcil with
An li croine, sh roiniiiircil with
Au inureitsc, as coiuporud with
liicrrasp, aa
1
THE CHRONiCLE.
1801.]
'i8
—
:
1SH8. of
lH87,of
IHSO, of.'"*
1385, of
1890, of
IhhO, of
compared with 1888, of
ooinp.ired with IB"?, of
compared wKh 1BS6, of
compared with 1 885, of
J23,7flO 23
•11,13!)
12S,141
40.243
102,746
101,144
77
44
50
S3
64
$130,177 03
140.911 m2
1H7,S80 72
S3,.')7'J
H."*
48,421
til
New York
<!iir
*37a Ai9 lo
o<<i
Trust of 1888
fA.l.OOO
Krio Klcvalor (iimpanv
54
Nurthcrn Kiillroad of Now Jener
AhraiuH. Ifxwltl. Trustco
WilU, I'liivo A Co
Fiilliuun s ralnco Car Cotupanjr
Wyoinlug Car Truat
„ Total
uwnng the
00
30000
33
5.00000
86,3:43
t8,H«8 4rt
B0.23H 03
69,0>4O71
MSS.oeSSS
previous rear, a« stated In tna
annual reimrt, non-assenting oerttltoatea wer« redeemed, the principal and
Interest of which nmonntAd to
9650,000 00
And payments made on account of the principal of the Car Trust of Now York. old. of 186,312 1
'ndo
on account of* Ann
the principal of the neie
OarTnuts of
213,914 38
last
1.000,236
49
Makln«r the total pnymentt In the poat two years on account of the Car Trusts, old and tmo, tha enormoiu
aggtegatoof
«1,704.1»61
305 U
During the fiscal year of 1890 your Company paid on acThere were carried durina; the year of merchandise freight
count of Engine Trnsts the sum of $235,118 and during 1891
7.090,828 tons, being 380,684 tons more than for 1890, and
the sum of $72,947 70, making a total payment In the *^
out
3,983,581 tons moTf than in 1885.
two years of $808,065 75.
The earnings per ton per mile on this traffic were '788 a
The nature of these Car and Engine Trusts has been exdecrease from 1890 of -020.
plained in previous reports. On account of' the new Car
The tonnage transported of anthracite and bituminous coal Trusts the sum of
$1,059,070 r>0 is yet to be paid and on acand coke was 10.751,675 tona, being 1,168,698 tons more than count
of the now Engine Trusts $J23.425.
AU these new
in 1890 and 4,614.488 tons more than in 188.5.
trusts will be litiuidated previous to 1898, when all the cars and
The earnings per ton per mile on this trafiSc were -540, an engines included in them will
belong to your Company.
increase over 1890 of -004.
The tonnage of all descriptions hauled shows an increase of
1,544.877 tons over the previous year and an increase of
7,598,014 tons over 1885.
The total number of passengers carried during the year was
11,832.180, the largest in the Company's history, an increase
of 410.446 over the previous year, nearly all of the increase
CHICAGO A ERIE RAILROAD.
As
&
stated in the last annual report, the Chicago
Erie
Railroad Company began to operate this road on September 1, 1890. The fiscal year of the Company ends on the 80th
of June of each year. The first was but a fractional year
covering a period of ten months from September 1, 1890, to
being in local travel.
The fate per passenger per mile was 1'543, as against 1-584
and including June 30, 1891.
forth in the Income Mortgage
in 1890.
14,358 tons of 80-pound steel rail were put into the track at
a net cost, after crediting the amount received from sales of
old rail, of $187,952-59.
Ties to the number of 743,975 were put into the roai during
the year.
23 miles of new sidings at local stations and along the line
were laid at a cost of about $160,000.
95 miles of ballast, costing $103,517 44, were put under the
track.
215 miles of fences were entirely renewed or repaired.
new passenger station was erected at Bradford, Penn.,
during the past year, at a cost of $11,700, and a new station at
Port Jervia, taking the place of the one destroyed by fire in
December, 1890, is now in course of erection.
It will be noted that large expenditures have been made in
providing necessary interltxjking plants and block signals.
Interlocking plants have been constructed at Allendale, Ramseys, Suffem, Sterlington, Greycourt, Chester, Otisville Summit and Gulf Summit and plants are in course of erection at
The gross earnings of the road
A
HomellsviUe and Arlington Junction.
The work of properly protecting that portion of the main
between the Jersey City Station and Bergen Tunnel, a
distance of one and one-quarter miles, by means of the block
system, was completed. $45,000 being expended in the re-arrangement of the tracks, ballast, &c., and $25,000 for putting in the requisite block signals, a total expenditure of
line
$70,000.
Upon completion of the work of blocking the remainder of
the Delaware Division, from Deposit to Lanesboro, the Western Division to Salamanca and the Buffalo Division and
Niagara Falls Branch, all of which is now under way, and
will be completed in 1893, the whole of the main line will be
by the block system.
culverts to the number of 53 have been replaced with
either stone archway or pipe.
Contracts were made for the reconstruction of 19 bridges,
representing 4,5U5 lineal feet, at an estimated cost of $250,000,
to take the place of 13 iron and 6 wooden bridge-i.
portion
of this work was completed during the fiscal year, and the remainder will be finished early in 1893, including bridge No.
78, on the Susquehanna Division, 650 feet in length, the largest
bridge on the line of the road.
fully protected
Open
A
COAL TBADK.
be observed that the earnings from coal for the year
exceeded those of the previous year by $933,330 95. At the
close of the fiscal year the prospects for the coal trade continued promising. The facilities for storing coal, both at
Buffalo and Piermont, have proved a great success,
and account in a great degree for the large increase in this
It will
tralflc.
PAVONIA FERRIES.
The gross earnings of the Pavonia Ferries for the fiscal year
ending Septemiier 30, 1891, were $385,094 47, and iho net earnings. $61,132 09, an increase, as compared with 18S0, of $42,201 33.
CAB AND ENGINE TRUSTS.
Under the arrangement
for these ten
set
months were $2.1S9,429 80
Assuming
these ten months as ten twelf tlis of a year woold
the gross earnings for the year $3,1591, 315 76, and tbe
terms of the said arrangement would require that 25 per cent
thereof be applied to the interest on the First Mortgage Bonds,
and also the Income Bonds (after thr- payment of tbe balance
of the debt due to your Company, $316,000).
25 per cent of $2,159.42!) 80 equals
$539,857 45
Deduct Interest ou the outstanding First Mortgage Bonds
lor said ten months
342,959 66
make
Leaves
9196,89779
— which
amount has been credited to the New York Lake
Erie
Western Railroad Company as payment on account of
the debt of $316,000 as stated above.
The physical condition of the property has been very materially improved during the past year.
New iron bridges with
masonry abutments have been substituted for wooden struc
tures and timber abutments.
Many miles of the road have
been thoroughly ballasted, and the work is to be completed
next season. New locomotives and cars have also been provided for.
full account of these improvements will be
found in the report of the First Vice-President.
Under the reorganization plan, $3,000,000 of the First Mortgage Bonds of the Company were reserved for betterments
and improvements, and for acquiring equipment for the road.
During the fractional year of ten months above stated the
Company disposed of $591,000 of these bonds for said purpoees,
leaving $1,409,000 still to be devoted to like purposes.
When the improvements pending and contemplated are
completed and the road put in first-class condition, it will be
equal to any line out of Chicago. Its location is one of the
best in the country 96 per cent of the entire line is straight,
and tho maximum grades in both directions never exceed 28
feet pcT mile.
The importance of this acquisition to the Erie system, thus
securing a solid through line from New York to Chicago, cannot bo over-estimated.
&
A
;
NEW YORK PENNSYLVANIA A OHIO RAILROAD.
The
result of operating this road from the commencement
May 1, 1888, to September 30, 1891, has been as
of the lease.
follows
Profit for tbe first five
months to
Sept. 30,
9199,540 81
1883
the year 1884
Loss for the year 1H85
ITolIt for the year 1K86
Profit for the year 18S 7
l>oss for the year 1888
Loss for the year 18S9
Profit for the year ICUO
Loss for the year 1891
I.OS8 for
Making a
total loss of
9270.2(>1 25
239,820 50
51.82308
91,965 73
343.91161
331,134 b8
77,37618
19,^86 47
9784,530 65
far as the division of earnings is concerned the new contract works satisfactorily to both companies. The New York
Pennsylvania
Ohio Company received $2,185,142 71 as its
proportion, being $42,007 90 less than in 1890, which to that
time was the largest amount accruing to that company for
So
&
any rear of the lease. Your companv sustained a loss of
year your Company paid on account $19,586 47, as compared with a profit of $77,876 13 in 1&80, bat
of the principal of car trusts the sum of $653,969 63, $s a gain of $811,648 41 as compared with 1889, and a gain of
follows :
|Sa4,825 14 as compared with 1888.
During the past
fiscal
THE CHRONICLK
796
[Vol. UII.
constructing an independent road
lease, was expended away with the necessity for
The sum of $100,000, provided for in the
from the Weehawken terminals to the main line of your Comproperty.
the
on
improvements
in nermanent
i„„„;„ pany at Jersey City.
Pennsylvania
Nothing has yet been done by the New York
EEIE & GENESEE VALLEY EAILEOAD.
of the suggestions made in
direction
the
in
Company
Ohio
&
last year, the litigation by which
..^ _„„„„„
the last annual report, as follows
" One of the great difficulties to be overcome in the success
Being
facilities.
of
" ful operation of this property is its lack
jrades
"a single-track road, with inadequate sidm^, l^eavy
" and insufficient equipment, it has to ™J^!^ft«Ji'^ke
Shore
" connections of the other trunk Imes notably the hakebhore
sums have been
"and Fort Wayne roads, upon which large few
years. It is
"expended in improvements in the last
" helped that the N. Y. P. & O. management will appreciate
provide the
"the changed conditions of raUroad "raffle and standard of
the
"necessary capital to bring their hne up to
" like connections of other trunk Imes, as the lease provides
" they should do. Unless this can be accomplished it will be
" almost impossible for your company, owing to the great ir^
" crease in its own business, to forward over the IN. ^. tr. ac
the lease.
"O. line the percentages of traffic specined
" These percentages were fixed at a time when the condition
" of business was very different and it is plain that now they
" should either be altered or the facilities of the N. Y. i'. « U.
" Road should be increased to an extent that will enable it to
" meet the requirements of the changed situation.
The attention of the officers of the New York Pennsylvania
important sub& Ohio Company has again been called to thisnegotiation.
ject, and at the date of this report it is under
that road be
IB absolutely requisite that the heavy grades on
reduced, the traffic of your company has constantly grown
in much greater proportions than that of the New York Pennsylvania & Ohio Company. The business of the Chicago &
Erie is al=o increasing, and the New York Pennsylvania &
Ohio Road, s-ituated as it is between the two roads, is frequently unable to take forward the l.-usmess promptly as
received. Constant improvements are also being made by
the Erie and the Chicago & Erie companies.
Out of a total distance of 374 miles of the mam line of N.
Y. P. & O., 78 are of adverse grades, some as high as 66 feet
to the mile eastward and as high as 75 feet to the mile westward, being much higher than the grades on the Erie Road
proper. The maximum grade of the Chicago & Erie in both
directions never exceeds 36 feet per mUe, and 96 per cent of
Before the close of
its entire length is absolutely straight.
the next fiscal year it is expected that the Chicago & Erie will
be in perfect condition, and unless the high grades on the
New York Pennsylvania & Ohio road are reduced and a large
addition of double track and passing sidings are laid, that
road will be at a marked disadvantage as compared with the
Chicago & Erie, and will be an inefficient link in the great
system between New York and Chicago.
The condition of the Mahoning Division is the same as stated
in the last annual report when there were ten miles of track
necessary to be added
order to completely double-track the
:
.
m
As suggested
in the report
was attempted to hold this Company responsible for the
principal and interest on bonds of the Erie & Genesee Valley
Railroad was finally brought to a favorable termination. In
order, however, to keep the road open, its operation was continued under an agreement which provided that there should
be no liability for the payment of rent. This arrangement
continued until October 33, 1891, when your Company, having been notified that it was at an end, withdrew its trains
and equipment from the road, and ceased its operation.
CAPITAL STOCK.
The total amount of stock upon which assessments have
been paid is, as per last report, $85,240,500 and of this there
has been issued in exchange therefor to September 30, 1891,
the stock of this Company, as follows, viz.:
$76,914,500
Common Stock
it
;
^•l^'''*"*'„„»
Preferred Stock
There
is still
^„„ „„„
$85,070,900
;
awaiting such exchange
:
Common
$169,300
Stock
Preferred Stock
300^
^_^
$85,240,500
U
m
whole Division.
The amount of merchandise freight transported was 4,648,314 tons, being a decrease of 448,521 tons from 1890.
The earnings per ton per mile on this traffic increased from
S83 to
-594.
of coal and coke transported was 2,411,983
tons, being a decrease of 311,317 tons as compared with 1890.
The rate per ton per mile decreased from •514 to -500.
The number of passengers transported during the year was
1,824,113, being an increase as compared witli 1890 of 89,175.
The rate per passenger per mile decreased from 1-910 to 1'845.
During the past year 3,650 tons of steel rail and 224,338 ties
The tonnage
were
laid.
can be stated that the condition of the road was better at
the end of the flacfil year than at any previous period.
It
The total amount of capital stock issued Sept. 80, 1891,
follows, viz.
$85,070,900
Amount exchanged, &• above
Common stock sold in tisoalyearlSSOl i5,000
500,000
shares)
Preferred stock sold in the fiscal year 1888-9
is
as
:
^^.^^^-•^-^--^
_i!£:!2^ 5,85,951.100
Amount of assented stock awaiting exchange,
169,600
416,200
asabove...
Amountonhand—common stock, 4,162 shares
*8f!,536,900
OENEBAL BEMARK8.
The enormous business of the company during the past year
and the increased weight of the new equipnieni required liberal expenditures to properly maintain the track and structures, and it can be stated that the physical condition of the
property was never as good as at present.
All the new steel rail now being laid on the Erie proper is
of the eighty-pound pattern. It is probable that at the end of
1892 all of the old iron will be out of the main track and
Ohio, and
sidings, and also of the New York Pennsylvania
the whole line from New York to Chicago will be laid in
steel, including all f-ide tracks.
The cost of reconstructing bridges, as well as the cost of
substituting new steel rails weighing eighty pounds to the
yard in place of old rails weighing from sixty-seven to seventy-four pounds to the yard, and the cost of new stone
masonry, were all charged to operating expenses.
The condition of the engines in use has been fully maintair.ed, and all cars, including those belonging to the several
trusts, have been kept at the highest standard of efficiency.
The rates during the year on through freight were about as
in the previouu year, but your Company did a larger share of
ttie more profitable business, such as the dressed beef, provisions, &c.
Your Company was enabled for almost the entire year to
furnish all the cars needed. The traffic increased largely,
however, in Julj, and continued heavy in August and September, ami during the last quarter your Company was sometimes nhort of car equipment.
&
In July your Company made a contract with the Baldwin
DOCKS.
Locomotive Works for 45 additional locomotives of the largest
The contemplated improvements and additional facilities at and heaviest description with immense power. The contract
Weehawken, of which mention was made in the report for provided tliat these engines should be paid for in sixty monthly
1890, have been carried out as far as practicable during the instalments, bearing interest, with the option to your Company
past fiscal year.
to redeem the paper at any time at its then present value.
All the bulkheads, 2,450 feet in length, ai-e now sunk in
The interest upon the Income Bonds for the year ending
place and have finally settled to their bearings. 900,000 cubic September 30, 1890, was paid and that for the current year
yards of dredging have been removed from the slips between will also be paid in January, 1892.
the piers, and the docks are now accessible to vessels up to a
A dividend of 3 per cent for the year ending September 30,
draught of SJS feet at low tide.
1891, upon the Preferred Stock will be paid on Jan. 15, 1892.
"
Pier
D," with a two- story warehouse, and Coal Pier " I," The gross aieount of current obligations at the close of
$2,294,683 49
with three times the capacity of the old pier, have both been
thevoar was
completed, and have been of valuable service in the opera- Of which $1,150,000 were loans and $1,144,633 49 for
WEEHAWKEN
tions at Weehawken during the past year.
The actual storage area has been increased from 103,000
square feet to 870,000 square feet, and the pier area from
98,000 square feet to 253,000 square feet. Four additional
piers have been added and two more are now under construction.
The yard capacity has been increased from 450 cars
8,000 cars.
U>
improvements and additional facilities
•r:?r°on*^'^°"''*
*585,627 22 was expended during the year, maliins; a total
expenditure during the last two years of §1,592,292. Thes<
improvements furnishing, as they do, an outlet at tidewatei
for a large amount of freight, are immensely
valuable.
Contracts have been entered into for the construction
of
two additional piers, one 840 feet long and 100 feet wide, upoi
which will be erected a two-story warehouse, and the
other
950 feet long and 80 feet wide. The work on both
piers will
°' ^^^^^
be pressed to a rapid completion.
^'ompany has entered into a satisfactory contract witl.
I.
me w""
New Jersey Junction Railroad Comijany, thereby doing
Bills Pa, able
From
given for supplies.
this should be
deducted:
$481,803 33
133,166 67
Chicigo & Erie RK. Co. for
bettirmeuta, which are to be repaid from
the sale ot Chicago & Erie Ist mort bi nda. 440,759 91
Cash on hand...,
Ullia rei-eivaljlo
Advances to
tlie
1,055,729 91
Leaving the net amount of current obliga.$1,238.903 58
tions at the close of the year
Erie Railroad First and Second
The amount of Chicago
Mortgage Bonds on hand at present market prices will yield
.uffii ieut to pay this indebtednesss and leave a considerable
&
surplus.
It will be observed that during the year the amount of traffic
cached the highest point known since the railroad was built,
the Board takes great pleasure in stating tiiat the work
;as been performed by the employees generally with great
adelity and succt.'ss.
By order of the Board,
KING, President.
m
JOHN
:
NOVEHBRR
.
)
'
THE CHRONICLE.
38, 18U1,J
797
Passengers
GREAT NORTHERN RAILWAY COMPANY.
SECOND ANNUAL KEPORT-FOR YEAR KNDINO JUNE 30,
1801.
The following in a f)tat«naont of the MinnoapoUs & St. Cloud
Land Orant for the fiscal year ending June 80
The Prrsident and Directors nubmit the following report for
the year cnditif!: June 80, I'-Ol
:
:
I'uKHeiigcrs
00,830
one mile
',
lt3Mf4l4
9170,903 $9
Revenue
During the ytmr the fifty-six pound steel between St. Clood
and Hinckley hai been repiaceil with seventy-five uound ((mL
Wooden trestle and pile bridKing on thin line haa been mainljr
replaced by stone cufverlH and earth cmbankmenta.
On the BrrckonridKe Division. aeventy-Hve pound steel haa
been laid from a point between Donncll y and Morrta, to
Herman, and will during the mimmer be completed to Brcck-
For the purpose of comparison, the following; atatements
are submitted, showinK the results for the year ending June
80, 1891, from the operation of the line leased from the St.
Paul Minneapolis & Manitoba Railway Company. Statements
do not include the W. & S. F. Ry. or D. W. & P. Ry.
OROBS EAR:fINOB.
enrid ge.
Ptr Cent
Minneapolis. When this improvement is completed the Company will be able to run ils trains through Minneapolis without a street crossing at grade, and it is expected that the terminal station facilities in that city will be adequate for the
business for many years to come.
The policy of re-laying the main lines with heavy rails haa
been continued. The Board of Directors bearing in mind the
constant downward tendency of rates have kept in view the
importance of cheap operation, and to insure the ability to
meet these conditions in the future have made liberal expenditures to secure permanent improvements in the cost of tranaacting the Company's business.
The shops at St. Cloud mentioned in the last report have
been completed, and the freight equipment for all the lines ia
being thoroughly repaired there.
1991.
741901!
18«r..53|
Per Otnl.
1890.
rrelght
1(17,628.010 71
l,87(i,9(!0 18
•fi.Qlli.iee.tO
73-7696
1,774,567 96
218,303 21
112,029 34
3S3,932 14
18-931'S
....Pasaeniter....
2-S4'.'2
292.^-28 08
HaU
1-2260
3-4864
126,060 39
358.464 8
Express
..MlsoellaDeous
l«10,281,714 2l
2-3288
11951
3-7757
«9.373.99g 24'
OPERATING EXPENSES.
Per Cent.
Per Cent.
1890.
1891,
25-2143 $1,302,051 65 CoDtluctlnK Transp'n $1,242,489 69 27-5084
31-5387 1,628,«44 65
Motive Power
1,478,639 85 32-73d6
of Road
24-0707 1,243,001 50 5 Malnt'nce
778,507 65 17-1916
Struoturos.
nnd
(
J
9-9472
437,517 07 10-7935
513.669 77 .Maintenance o( Cars.
9-2291
Expenses..
531,619 54 11-7699
62
..General
470,582
SUMMARY OF EARNINGS AND
EXPE-VSES.
business.
1890.
1891.
$10,281,714 21
5,163,054 19
Gross Eaminirs
Operating; Expenses.
$9,373,999 21
4,510,773 80
Net Earnings.
Taxes
$4,857.223 4 4
274,350 69
Net Income.
$4,582,874 75
$5,1 1 7,760 02'
299,660 59i
$4,81^109
EXTENSIONS.
to Cavalier (31-71 miles), mentioned in the last report, has been completed and put in operation, and is furnishing the Company with a satitifactory
The extension from Grafton
$4,516,773 80
'$5,163,95419'
During the year, as will be leen by reference to the tabulated statements herein, there have li«en large expend it urea
for additional stations, shops, water supply, highway bridge*,
extension of terminal yards, side-tracks, and other iiermanent
improvements, amounting to $653,827 68, The principal eineose for stations and highway bridges has been incurre<l in
43'
50-22
Operating Expenses per cent of Gross
Earnings
Operating
53-14'
Expenses and Taxes per
cent of Gross Earnings
The Sauk Centre Northern Branch is being extended from
Eagle Bend to Park Rapids, a distance of .W-SS miles; and it
ia intended another year to complete this line to Leech Lake,
where it will have access to the largest district of pine timber
standing iu the Northwest. Inasmuch as the larger portion
of the Company's lines are located in prairie regions, the value
of this extension will be apparent.
The Moorhead Northern Branch, is being extended from
Hendrum, on the east side of the Red River, to Alton, on the
line between Fargo and Grand Forks, a distance of 10*64
48-18
miles.
5111
On the Montana Central, the line is being extended from
Monarch to Barker, 10-79 miles, and from Monarch to Neihart,
18-44 miles. This work will be completed the coming fall.
Track-laving on the Pacific Extension has been nearly com$1,744 88 pleted to the summit of the Rocky Mountains.
During the
$1,830 03 .Net Traffic Earnings per Mile of Road.
large force was employed on the heavy work
winter
a
2,783-71
2,796-54 Average Miles of road under Operation,
between the summit of the main range and Spokane Falls,
and this force is being largely increased for the summer's
COMPARATIVE STATISTICS OF FREIGHT TRAFFIC OPBRA- work, with the intention of completing, as far as possible,
TI0N8 DURIMG LAST TWO FISCAL YEARS.
the last-named place.
Gross Earnings per Mile of Road...
$3,676 58'
1,846 55 .Operating Expenses per Mile of Road
Freigbt Train Mileage
Number of Tone Carried
Tons Carried One Mile
Earnings from freight Traffic
Average Earnings per Ton per Mile
$3,367 45
1,622 57
before next winter, the grading to
Careful and thorough examination has been made of the entire country along the line of the Pacific Extension, through
to Puget Sound, resulting in a line shorter, and with lower
grades, than those of anv trans-Continental line heretofore
built between the Great Lakes and the Pacific Ocean. "The
work on this line, including the roadbed and bridges, is being
done in the most substantial and thorough manner, to provide
for using the heaviest types of locomotives and cars with the
greatest safety. It is expected that the line will be completed
to the Pacific coast in time for the summer business of 1898.
As will be seen by reference to the details of this report, the
business of the Company and its proprietary lines '^hows a
constant improvement, and at the same time a steady reduction in rates of transportation. Attention is called to the
statement herein, showing the reductions for the past ten
1890.
1891.
2,914.592
•3,132,540
2,324,900
2,280,382
540,059,827
616,286,817
$7,628,010 71 $6,915,166 59
-01280
-01238
COMPARATIVE STATISTICS OF PASSENGER TRAFFIC OPERA'
TION8 DURING LAST TWO FISCAL YEARS.
1891.
1890.
1,799,097
1.773,993
Passenger Train Mileage
2,198,428
1,995,515
Number of Passengers Carried
73,458.977
82.327,486
Number of PussenKcrs Carried One Mile.
$2,458,314 12 $2,267,669 36
lamlngsfrom Passenger Trains
-02415
-02270
Earnings per Passenger per Mile
AND PASSENGER TRAFFIC OF 'THE
GREAT NORTHER.V RAILWAY, WILLMAR A SIOUX FALl*
RAILWAY AND DULUTH WATERTOWN & PACIFIC BAII^
SU.\fMARY OF FREIGHT
WAY.
years.
The increase of business on the lines west of Minot. including the Montana Central, amply justifies the wisdom of building into that country, and your Directors are more fully impressed with the importance of the extension to the Pacific
FREIGHT TRAFFIC.
Including the entire freight traffic for the year, the iflcreaae
and decrease in the average rate would produce
the following apparent result
Increase of revenue from increase of business
'??T'iSK
01
I44,.ij,> at
Decrease of revenue from a decrease in average rate
of tonnage
coast.
$842,925 23
Net Increase
FASSBNOER TRAFFIC.
Including entire passenger traffic tliere was an Increase of
, , , „,
revenue from increase of business
'^iS'iiS
i4
87..41* J 1
Decrease of revenue from decrease in average rate
.
„
eastward.
$126,814 04
Net increase
Early in December, 1890, the St. Paul & Minneapolis Street
Railway companies put in operation their electric street railwav line between St. Paul and Minneapolis, with the result of
diverting from tJreat Northern sliort line trams a large p<)rDuring the
tion of the pas.senger traffic previously earned.
seven months ending June 30, 1891, there was a decrease in
short line business as compared with the corresponding penoa
of the previous year as shown below :
270 229
Passengers
«i5s
29-j o*
64
$S5,J»s
Revenue
Exclusive of the short line business between St. Paul and
Minneapolis durmg the past fiscal year, there was an increase
in pauseuger traffic as shown below t
.
The business of the Northern Steamship Company shows an
increase in tonnage and earnings over last year, and ttie benefits of the operation of this Ime in connection with your railway are fully confirmed.
The Company's coal mines at Sand Coulee, Mont., hare
secured to the Company a full supply of good fuel at a low
cost, and a large traffic for its returned cars fromMontana
During the year there were retired of the St. Paul Minneapohs & Manitoba Railway Company's First Mortgage Land
Grant Bonds, $280,000, by the operation of the Land Orant
Sinking Fund, reducing the amount of interest to be paid by
Is is e^
this Company under the lease $19,600 per annum.
pected that the reductions from this source will be incteaaea
with the increasing sales of the Company's lands.
LAND COMMISSIONER'S REPORT.
Ja». J. Hill, E»q., Prendent.
,.
. „
Dear Sir I herewith respectfully submit the foUowniK reLand
Grant fO»
Cloud
St.
<t
port regarding the MinneipolU
the fibcal year ending June 80, 1891
.
-.
,
:
—
THE CHRONICLE.
798
^^^ ^^^ ^^
,^i?7'5?o»?
\j.i.iiz b*
54,690 33
Total acreage sold prior to June 30, 1891
422,173 67
RemalnlngunsoldJuneSO. 1891
During the year ending June 30, 1891, 2,023-86 acres of land
were sold for $12,553 78, an average price of $6 21 per acre.
The expenses of the Land Department for the year were
$3,427 20.
Amount
payments due Company, $10,719
of deferred
Grbat Northern Kt.
Leased from
St.
Paul
bearinc; seven per cent interest.
93,
_
W. W. Braden,
Land Commissioner.
These lands are being selected by the
the examinations can be made.
Company
JAS.
J.
Uain
Tratk.
2,807-64
U.ttM.Eu
Total acreage selected to date...........
Total acreage deeded to compauy to date
TjITT.
Total
2-48
2-48
3,291-80
45-60
150-39
146-91
6984
all lines
Total.
t3,aS0-2O
3198
21-82
11-22
4-09
1-84
Willmar A B. P. Ry
Duluth W. & P. Ry
Minneapolis U. JBy
101-87
214-36
158-13
73-93
6-80
3,787-79
Not IncludlngNeihart and Barker branches under constrnction, of
which 42-60 miles main track and 2-23 miles side tracks are practicallj
completed. The whole will be completed this season.
t Tills statement does not Include tbo Pao. Exten. under construction.
There was constructed during the year a branch line from
Grafton, N. D., to Cavalier, N. D.. 31-71 miles, and also a connection with the Great Falls & Canada Railway, near Great
Falls, Mont., 1-26 miles.
*
EQUIPMENT STATEMENT JUNB
Class—
Locomotives
Passenger Eqnipment
President.
-MlLKB.Sidt
Track.
43-12
379-11
2d, 3(1 <tith
Track.
PuoPEiiTARY Companies—
72-39
Eastern Ry. of Minn
182-54
-Montana Central Ry
as fast as
HILL,
Vol.
TRACK BTATEMENT.
Xcra.
Acres.
*25.664 00
51.200 00
Amonntof Grunt. HlncWoy Brancli
Amount of Grant, WUlmar BrancH
I.
Freight and
G. N. liy.
259
223
Work Equipment
8,991
M.
30,
C. Ry.
1891.
E. By.
18
18
10
761
13
1,274
Total
29S
246
11,026
REVENUE ACCOUNT.
By Earnings
Motive
and General
$5,003,954 19
Transportation,
To Conducting
Power, Maintenance
Expenses
Fluid for Permanent
«"<l^''°^-'"«
Freight
Improvements
-J^""'°'^"% 5,163.954
Rental Paid Eastern By. of Minnesota.
Taxes
Guaranteed Interest on St. P. M. ifc M.
$2,873,598 34
By. Bonds, Paid and Accrued
Guaranteed Divideuds on St P. M. &
1,200,000 00
M. Ry. Stock, Paid and Accrued
Mainteu.-ince of St. P. M. & M. By.
11,073 99
Organization
Dividends, 1 per cent Nov.
Dividends, 1 p<-r cent Feb.
Dividends, 1^4 per cent May
1
,
1,
1,
19
$7,623,010 71
l,876,9fio is
29-2.2i8QS
128,050 39
358,464 85
-$10,281,714 21
Passenger
Mail
Express
Miscellaneous
18.750 00
299,6oO 59
,„,„„„
4,084,672 33
$200,000 00
200,000 00
250,000 00
1890.
1891..
1891..
.
650,000 00
64,687 10
Balance
$10.281,714 21
$10,28^,714 21
INCOME ACCOUNT.
$988,621 31
2o Balance.
Bv Balance from Earnings
Interest on Bonds Owned
Dividends on Stocks Owned.
Rental of Leased Lines
In erest and Exchange
Bills Receivable
Income from Other Sources..
,
,
$988,621 34
$988,621 34
GENERAL BALANCE SHEET.
By capital
To cost of properties and securities
acgulredfrom St. Paul Minneapolis
& Manitoba Railway
$19,250,000 00
New equipment
65,359 82
Additions and improvements
698,892 75
A securities owned.
Expended for construction of
1,670,376 78
Paciflo
Line
Interest on bonds
$8,431,272 15
387,872 00
for construction of other
430,728 68
lines
9,249,872 83
CtlBKEST ASSETS
Cashtn
Cash in
St.
Paul
ofiBco
New York
olDce
CashlnLondon ofiSce
Due from agents
Due from Uiiitert States Postal Dep'mt
Due from United Slates Transportation
Advanced charges
Due from other
co's
and individuals..
CtntREWT LIABILITIES
Audited vouchers unpaid
Unpaid pay-rolls
Interest due under lease from St. P. M.
AM. Ry
$8,819,144 15
Expended
$20,000,000
$645,641 14
1,379,582 65
$705,257 94
375,302 66
912,19800
Dividends due under lease from St. P.
M. & M. Ry
iDteiest accrued, not due
Dividends accrued, not due
Taxes, not duo
Unpaid divid'ds G. N. By. capital stock
Due toother oo's and individuals
382 50
202,146 67
200,000 00
58.011 26
1
,018 75
88,183 88
$2,512,501 66
CONSTRtrCTION LIABILITIES.
Audited vouchers unpaid
176,19974
153.909 84
75,430 63
Unpaid
Due
15,602 88
5,361 90
1.531,762 00
pay-rolls
to otlier co's
and Individuals
$833,769 55
85,030 95
348,447 61
3,809,749 72
3,983,550 78
457,9:^5 77
Ifaterial supply
OTHER LIABILITIES.
Montaaa Central Ry. current account.
Eastern Ry. of Minn., currentaccount.
Northern Steamship Co
Climax Coal Co
Sand Coulee Coal Co
$444,262 34
1.191 99
64,545 22
373 78
51,070 GO
501,413 93
Proceeds Pacific Extension Bonds
$8,005,599 40
Interest received from Pacfftc Extension funds
346,747 88
St. P.
M.
A M.
8,352,347 28
Rjr.
accounttln liquida-
tion
153,227 01
Fund
for permanent improvements
and renewals
Balance
,
Bi35,37.'^i,978
MOKTANA CESTBAL BAILWAT
Earnings from Operation
Income from Other Sources
Operating Expenses and Taxes
Rental of lines leased
Interest Paid and Accrued
$35,375,978 73
s; '34 4fiq B9
F.AITEKK
BAILWAT OF MINXESOTA.
Earnings from Operation
Incom* from Other Sources
$836,444 44
113,796 02
Operating Expenses and Taxes
Rental of Lines Leased
Interest Paid and Accrued
$576,098 »1
79,051 20
220,712 50
12115057
."
$950,210 IS
$635 fiTroi*''^*®'®*"
3 600 00
387,500 00
^"
882,482 51
1.020,771 01
^*''""^«
267,060 00
1,402,150 18
73
INCOME «TATEMENT^0FPRpPRIE^TM.Y^C0MPANIE8.F0E THE
S1I3W
00
$98,750 61
731,250 00
830,000 6t
$20,014,252 57
Other properties
stock
Proceeds lands and real estate sold.
Proceeds from securities sold
"$219;ic9'T6
Balance
.,
$67,777
S&
:
.
.
NOVEJIBER
THE CHRONICLR
3", 1881.J
MINNRArOUB CNIOM HAILWAT.
8TATRMEST OP EXPEM>-:""-
EamfnKB from Operation
9280,847 80
Oiierntlnc ExppiiKPH
lutercat I'Hid unci Accrurd
799
9^B,0670!<
150,500 00
r\f
I'ROVKMKVTH nilKlNO
18U1, UI'ON I'UOI'KKTY
If
1
,
Nfw Buildings for TrnnKportntlon Drpartment
New HulldlngH for H<i»i| l>i>|inrtniont
-" .in
New Huuud Hou.i'
NewFoeland Wa
,,h
New MtMellaneou
-i. ...........::.:"
New
Shop Tools HU'l nlmniuory
9450, ,852 07 N(iw SldeXraeks
346, ,896 00 New Fences
Now Bnow Feooes and Bnow Shed*
$110,488 41 Now Bridges sod Ciilrerts
;
,
215.867 93
Balance
NORTIIEBN RTEAMBIIIP COHTK^X.
Kaminen
Operation
froin
OpcrulluK Kxpcuses
Balance.
Incoiije
$366,696
20,032 20
9ri86.728
Operating Expenses
75
207,,379 71
Balance.
EamlnRS frcm Operation
Operuting ExiieuscB and Taxes
Interest paid and Accrued
$338,735 30
360,690 46
90
010 88
18,100 74
23399 90
;".
83,709 97
MlDneapolls Imiirovoment, representing work in progreiis
between First Street and Ilolden Street: re-arrangeroent
of Frciglit Yardt, &o
170.166 9»
9653.337 88
Into Box Car*
Chauglnu 29 Flat Cars into Wiitor Cars
9]6,S000(>
826383
'
KiiiciKliliircs on Acroiint of 40 Refrigerator Cars purobaned in Prevluiw FlncHl Year
Fitting Engine 331 with Driver aodAlr B. Fixtures!;!;!;
183 88
85040
$28.797 It
Total Additions and ImproTements and
DULUTH WATEHTOWS A PACIFIC RAILWAY
New
Equipment!. 9676,124 69
$30,140 60
$43,560 43
62,500 00
Balance.
NOTK.- In addition to the above there has been expended daring tk«
year, for equip, purchased on account of the 8t. F. M. A M. Ky. Pao Exf
375 Box Cars.
$f6S,375 0O
126,060 43
400 Furniture Cars
203,977 50
$95,619 83
$372,352 50
BY REASON OF THE REDUCTION OF RATES,
THE QREAT NORTIIPRN
FROM 1882 TO 1891, INCLUSIVE (I.VCL'O W. & 8. P. ON
RY. AND D. W. 4 P BY.)
!LE SHOWING REDUCTfON IN EARNINOS,
KA.IL\VAY. FOR A PERIOD OF TEX YEARS,
Fbeiqiit.
Passekgeb.
freight Earnings
Earn'ga
per Ton Freight Earn'gt Figured on Satis
Tear Ending
eouccled by
Tont One Milt. ptrMUe,
June 30.
of the Rate per loti
the
Cents.
2-51
1-95
1-79
1-52
1-49
1-36
1-30
1-49
1-27
1-24
374.9-'5.532
••••
450,932,489
559,795.(153
407,0(>8.580
554.752,349
634,163,295
Company. perMUe 0/1882
$4,773,005
6,687,934
6,114,459
6,013,050
5.587,284
6,151,746
7,277,333
72
96
$4,773,005 72
8,572,6">3 92
8.342,731 76
9,929,3«1 84
9,412,136 85
11,318,405 47
14,050,855 83
10,217.42186
13,924,283 90
15,917,498 70
51
12
43
69
45
6.075,«)3» 52
7.071,787 71
7,914,712 94
1-50 $63,666,952 05 $106,658,355 41
4.249,040,190
Tot.il8
(
0,152 84
'..'.."."
$21,964 07
189,862,911
311,539,997
340,347,879
395,592. 105
;
31..'>001
87,84.<i
EqulpmenI—
Cbangtng 1 5U Flat Cars
$203,199 46
157,500 00
Eainlnes from Operation
OpcratiDg Rxiwnses and Taxes
Interest Paid and Accrued
4
yeut
Balance.
1892
1883
1884
1S85
1880
1887
1888
1859
1890
1891
'
$110,340 04
WILLMAR ,k 8I0UX FALLS RAILWAY.
I
8,071
71,809 31
Klgbtof Way
KealEstata
.\.'>
(rom Other Sources
133,88a
88,883
""*
Rails, Fastenings, ato
SAND CODLBB OOAI. COMPANY.
Coal SulPS
$22.1»H|,
'
$71,270 63
Decrease
1
1
$12,991,403 36
Tear Snding
June SO.
1882
1883
1881
1885
1886
1887
1888
1889
1890
1891
Earn'gt'
.
r^....i.,J^'""^^3fr Earn*.
pr.Past. P<"f';
perUUe. cAUetedbyme uj
rate per Poms.
of i-iur.
Pe^.
Company.
Cents.
per II He of 1882.
Patienaen
Our Mile.
54.352.245
68,070,479
63.494,372
47,480,095
68,454.511
66,807,712
73,849,169
72,711,983
74,614,680
84,015,907
Totals.
653,851,153
2-92
2-99
311
2-94
2-45
2-21
2-46
2;)7
2-42
2-30
27
92
59
32
80
02
80
89
1,808,,392 97
1,93.5,,207 01
$1,587,,180
2,033 ,440
1 ,602 ,4.30
1,395,,797
1.431,,497
1,497,,809
1,823.,261
1,869,,864
261 $17,044,882 69
Decrease
$1,587,,180
1,987 ,657
1,562;,035
l.:«86,,418
27
99
06
77
1.706,.87173
i.o.-.o,,783
19
.395
73
90
2,
1
r>r.,
2,123 ,189
2.17'*, 748
3,453, 264
06
48
$19,092,548 37
$2,047,663 78
Deereatc.
Freight
Passenger
$42,991,403 36
2,047,663 78
Total
Avpr.ige per Year
$45,039,069 14
94,.503,906 91
VIRGINIA
DEBT SETTLEMENT.
OFFICIAL NEGOTIATIONS.
New York,
April 28th, 1891.
you may meet ma for the purpose of communicating the
same in writing, making such verbal explanations as may
seem advisable.
To the Hon. P. W. McKinney, Oovernor of Virginia.
I deem'it proper to call your attention to the terms of tha
Dear Sir The Bondholders' Committee are now prepared
to submit to you a proposition for the settlement of the State resolution of the General Assembly of Virginia constitutiof;
the Commission. You will observe it expressly provides that
debt of Virginia.
We would be lilad if you will name a very early day, if con- no proposition shall be entertained by the Commission which
venient, when some of us may meet you for the purpose of is not supported by a deposit in cash of not less than one
communicating the same in writing and making such verbal million dollars, to insure the faithful performance of the proposals, if accepted and ratified, etc.
You make no mention
explanations as may seem proper.
We address this communication to you, not only as Gov- of this fact, which the law makes a condition precedent to
ernor of the State, but also as Chairman of the Commission the consideration of your important proposition; hence my
appointed under the resolution of the General Assembly of reference to it as a preliminary necessity.
The gentlemen who compose our Commission are from
March 3, 1890, that you may, if you deem it proper, have an
opportimity to notify the other members of the Commission various parts of the Commonwealth, somewhat inconvenient
and remote.
So soon as I can ascertain when they can be
to be present at the conference.
me again on the subject of
We are, very respectfully, your obedient servants, F. P. with us, will let you bear from
Very respectfully yours,
Olcott, Henry Budge, William L. Bull, Hugh R. Garden, your communication.
:
Charles D. Dickey, Jr.,
John
(Signed)
Gill.
P.
New
commonwealth of
virginia.
Govebnoh's Office,
KiCHMOND, May
)
Frederic P. Olcott,
William L. Bull,
Henry Budge,
,
Charles D. Dickey, Jr.,
f
Hugh R Garden,
York,
May
8,
1891.
Hon. P. W. McKinney, Oovernor of Virginia.
Dear Sir We beg to acknowledge the receipt of your
Please accept our thanks for the prompt
letter of the 2d inst.
consideration which you propose to give to the subject of our
request.
We had not lost sight of the terms of the resolution
Virginia constituting the
of the General Assembly of
Commission, nor of the provision to which you refer that no
proposition shall be entertained which is not supported by a
deposit in cash of not less than one million dollars in such depository as said Commission may designate, to insure the
faithful peiformance of the proposal if accepted and ratified,
:
)
2d, 1891.
W. McKlNKBY.
Bondholders' Committee,
^^^^ ^j q g Ellis, Esq., Sec'y.
54 -yvaU gt., New York.
John Gill,
J
Gentlemen: Your letter of the 23th of April was received etc.
In reply we beg respectfully to state that we would not
to-day through the hands of Col. W. W. Gordon, of this city,
informing m.i that the Bondholders' Committee are now pre- hnve presumed to approach this subject and formulate a propared to submit a proposition for the settlement of the State p:ii'iti»n to be i^ubtnitted to the State for the settlement of the
debt of Virginia, and asking me to name a day whea some of d jbi unless and until we were in a position to insure the faith-
;
THE CHRONICLE.
800
ratified by a
tul performance of the proposal if accepted and
guarantee, at least the equivalent, and, in our judgment, far
better than a deposit of one million of dollars in cash.
have assumed that such deposit was required by reason
of the fact that previous negotiations had failed, in part at
bondholdleast, because the parties supposed to represent the
ers had no actual control of the indebtedness of Virginia,
and that it was intended to guard agaiast the repetition of
We
such failure.
It is proper to state that, acting upon this assuinption, we
expect as preliminary to the negotiations, and in lieu of the
deposit in cash, to show you by the most satisfactory evidence that we have about eighty-five percentum of the debt
\mder our own immediate and absolute control for the purpose
of his settlement, and are prepared to make delivery to the
proper officers of the State if our proposition is accepted.
This, we suppose, is a far more complete and satisfactory
guarantee for performance on our part than a deposit of one
or even five million of dollars. The object of the act was
evidently to insure the performance of the contract with the
State, if made. And if, from the nature of the proposal we
shall make, a far better guarantee is giveu, we presume that
its object will be substantially accomplished, and that it
would be useless to require us to tie up a million of dollars
without practical benefit to any one.
It is true that if your Clommission were authorized to make
a final and binding contract with the bondholders upon a prerequisite of the million doUars deposit, possibly a technical compliance with the condition might be necessary; but as the
purpose and scope of the conference between yourselves and
the Bondholders' Committee is to ascertain whether terms mutually acceptable may be arrived at with the view of a
meeting of the Legislature to consider it, we suppose, and
respectfully submit, that a mere technical compliance with the
condition referred so would not be regarded as necessary if a
far beter security is proposed. If, however, we are mistaken
in the views herein presented, we respectfully suggest that a
conference with the Commission on this subject will enable
us to arrive at a conclusion in the premises satisfactory to all
have been heretofore made to secure a dewhich have failed, and every settlement hitherto attempted has been unsuccessful.
The Committee has now under its control, and is prepared
Repeated
upon the conclusion of a settlement,
not less than twenty-three millions of dollars of the defaulted
obligations of the State owned by the public.
The Committee recognizes the principles of theRiddleberger
Act of 1883 to be "A true state of the account between the
State and her creditors" eliminating all compound interest
but it is of the opinion that the statement of the account, as
set forth in the Act, is erroneous in several particulars
and
respectfully submits, that while adheriiia to the principles of
the said Act of February 14, 1883, the State on one hand or
the creditors on the other will gladly correct any errors in said
account. Attention 1« called to the following facts by way of
have the honor to be your obedient servants,
F. P. Olcott, Henry Budge, W. L. Bull, Cliarles D. Dickey,
Jr., Hugh R. Garden, John Gill.
Jolm
1851.
1
Henry Budge,
Charles D. Dickey,
Hugh R. Garden,
1,
Bondholders' Committee-,
'
Jr.,
New York.
Gill,
Gentlemen —I am
instructed by the Virginia Commission
convey to you the within resolution, and to say in addition
thereto that it will give me, personally, pleasure to meet with
you at the time and place indicated:
"Reiolved That the Governor, as Chairman, inform the
Committee of the Bondholders that in accordance with their
letters of May the 8th, the Commission will hear them at the
office of the Governor at the Capital at eleven (11) o'clock
A. M., on Tuesday, the 2d inst."
to
—
Very
respectfully,
P. W. McKiNNEY,
efforts
to surrender to the State,
We
RicaMOND, Va., June
t\oi. Ull.
posit of the bonds, all of
parties.
F. P. Olcott,
William L. Bull,
Chairman.
New Yoek, June 3, 1891.
To the
Hon. Philip W. McKinney,
Hon. J. Hoge Tyler,
Hon. H. T. Wickham,
Virginia Commission.
Hon. Taylor Berry,
Hon. R. H. Cardwell,
Hon. W. D. Dabney,
Hon. R. H. Tyler,
Gmntlemen op the Commission In response to a joint resolution adopted by the General Assembly of Virginia on the
third day of March, 1890, this Committee was
organized for
the purpose of submitting to you a olan and proposition
for
;
illustration.
1st.
The
title
of the
Act
is
" To ascertain and declare Vir-
ginia's equitable share of the debt created before and actually
existing at the time of the partition of her territory and resources," but the statement credits Vu-ginia as against creditors who received nothing with payments to others of principal
and of interest in excess of her equitable share of such debt.
respectfully submitted that there should be eliminated as
all principal and interest paid by the State upon that
portion of the debt set apart and declared to be the equitable
proportion to be paid by the State of West Virginia, the same
constituting, in the opinion of this Committee, a claim by the
State of Virginia against the State of West Virginia, and not
against the creditors of Virginia.
2d. The Riddleberger Bill rirovides for the scaling and exchange of the bonds held by the Literary Fund, and the
amount of the debt January 1, 1861, as shown by the statement (part of the Riddleberger Bill), was designed to include
the Literary Fund but as a matter of fact it was inadvertently omitted, and therefore increases the debt by that amount
as of January Ist, 1881.
3d. In the statement forming part of Riddleberger BUI taxreceivable coupons outstanding October 1, 1881, and those
maturing January and July, 1883, were deducted from the
arrearages of interest due by the State to the creditors, upon
the ground that they would be paid in accordance with the
terms of the Bill, and therefore increases the debt by that
amount as of the first day of July, 1883.
4th. The bonds of the State held by her institutions are included in all statements of the debt and are embraced in the
Act of February 14, 1882. Nevertheless, full interest has always been paid on the original amount held by the State institutions, including interest on the amount set apart as due
by the State of West Virginia.
'It is respectfully submitted that these bonds should have
been excluded from any statement of the public debt, and the
full interest paid thereon treated as an ordinary expense of
Government or, if included, then the excess of interest
paid thereon should not have been credited in favor of the
State and charged against her creditors generally.
It thus appears that the true state of the account between
the State and her creditors, as contemplated by the Riddleberger Bill, will present, as of July 1, 1883, a much larger balance than is shown in said statement, and will aggregate at
this date a larger amount than this Committee for the purpose
of being well within the principles of the Riddleberger BiU,
now asks of the State as a basis for the settlement of the
whole debt owned by the public.
The Riddleberger legislation provided for an interest charge
at the rate of three per cent per annum upon the net balance
aa per statement on face of the bill, and in addition thereto
hiterest at three per cent per annum on the Literary Fund,
It is
a credit
;
;
with interest thereon from January 1, 1861.
Interest at three per cent per annum on matured coupons
and other interest on bonds (whi«h might not be promptly
funded) as of the date of funding.
These leveral items alone would aggregate not less than
$825,000 per annum, not including the unmatured coupons
which might be funded, and not including the correction of
certain errors heretofore referred to.
It thus appears that the principles of the Riddleberger
legislation call for an interest charge of over $835,000 per
the settlement of the entire debt of Virginia, in
accordance annum, as of July 1, 1883, and the fundable interest which
with the terms of said joint resolution.
has been maturing since that date has materially increased
This Committee has associated with it an Advisory
Board this interest charge.
for the creditors, composed of gentlemen whose
names and
It is proper to add that the valuation of property in the
reputation are a guarantee of intelligent and impartial
con- State has increased about $91,000,000 from 1883 to 1891.
'^
Bideration.
Of the debt proposed to be funded there is now outstanding
The function and duties of this Committee are set forth
in a owned by the public an apparent maximum, as of July 1,
certain agreement entered into with the creditors
of Virginia, 1891, approximating $38,000,000.
Of this amount, the Bonddated May 12, 1890, and respectfully submitted
as a part holders Committee control $33,000,000 principal and interest
hereoi and tLe function of the Advis .ry Board
set fort^in
to said date; and the Committee hereby proposes to surrender
^e plan and i>roposition for the adjustment of isthe
debt of the same, together with any additional obligations which may
which
1890,
has been duly approved be deposited, on the basis of
2^'
K^'S.'TaI''-'^^
$30,000,000 of new 3 per cent
by Mid Advisory^?7Board, and also submitted as a part hereof,
bonds for the entire $28,000,000.
"''' selected depositaries entitled to the highest
The characteristics of the bonds under the terms of this
^^ififiif'""'
^^'•^^«' «"---'
proposition to be freedom from the tax-receivable feature,
Sev«a'lt4TiuS'"''"« "^^
free from present and future taxation; that all fiduciaries
'\'}memi I'as been exercised to obtain a deposit may be authorized
^f'^f'j.t""??'
by law to invest in them, and that they
of
the outstanding debt of the State for
the purpose of said may have such other characteristics
and security as the rep^""^ ^^ publication, advertisement,
individual
resentatives of the State and the Committee may consider
TmVXi^l' corr^pondence, no effort has been
spared
by
the
best calculated to give them the highest jjossible standing in
^^i5.,^
Conimitteeor by the depositaries.
the money markets of the world.
The result is an acquiescence on the part of
the bondholders
It is proposed as a part of the settlement that the judgal«olutely unprecedented, and hitherto
deemed impossible
ments and pending suits bet een the State of Virginia and
;
•
-
'"fl— -
w
NOVEMBKB
THE CHRONICLR
28, ISVl.J
her tax-payers who have tendered coupons in
taxes be adjusted and marked satisfied.
Frederic P. Olcott,
payment of
R. (:>arden,
L. Bull,
I
William
Bondholders'
Committee.
(
Charles D. Dickey, Jr.,
John
Qill.
ations, it is iM-lieved, is nowhere (lueslioneJ.
hi luldition to these appropriations, a considerable
amount
is paid to various colleges in diffirent sections
of the State as
interest on obligations of the Stato held by them.
Thaaa obligations held by colleges were for the most part donated
to
By
O. 8.
part of th^ settled policy of the Oovernrnwit, has bMa
that
higher inxtilutiona of learning within the Htete,
rsMonably within the reach of the chlldruu of the maasM. arenacsasary to maintain the eflUcienoy of the commoD acbool
aad praservethem in n course of constant improvamaot. For this
reason the Stato makes certain appropriations to
collacsa in
TWious parts of her territorv. The propriety of tbesa apMopriis
Md
Henry nudge,
HuKh
801
ElU6.
Secretary.
them many years ago by philanthropic
COMMONWEALTH OF
VIRGINIA.
Governor's Office,
Richmond, Va., June 3, 1891.
To
)
\
Messrs.
Frederic P. Olcott,
tem of the
Henry BudRp,
Hugh
It.
Garden,
Constituting
Bondholders' Committee.
William L. Bull.
Charles D. Dickey,
John
Jr.,
Gill,
Gentlemen: The paper submitted by you to the Virginia
Commis.sioii on yesterday sets forth that you have under your
control $33,000,000 of the outstanding unsettled obligations of
the State (that is. obligations other than those already issued
under the Rlddleberger Bill), and you propose that such outstanding unsettled obligations be recast upon a ba-sis which
would require an annual interest charge of $000,000. should
the whole amount thereof, estimated by you at $38,000,000,
exclusive of obligations held by colleges, be recast upon that
basis, in addition to the annual payment of interest required
under existing laws.
The Virginia Commission feels constrained to decline to
entertain said proposal, or to enter into a contract with the
Bondholders' Committee on the basis thereof.
The interest charge required by said proposal largely exceeds
the amount which would be payable on such unsettled obligations were the same funded in accordance with the principles
of the Rlddleberger Bill.
But, apart from this consideration, and in addition thereto,
is the fact that the interest charge contemplated by your proposal exceeds the amount that the State is able to pay, after
discharging its Constitutional obligations and providing other
necessary expenses.
The Virginia Commission concurs ttilly in the correctness
of the statements made by the Auditor, which have been before you, showing the receipts and disbursements of the State,
and the net balance of revenues applicable to the service of
the unsettled outstanding obligations.
From this statement it appears the revenues from taxation
which during the next flve.years at least will be availaiile for
the service of the unsettled outstanding debt wdl not exceed
$300,000 per annum. To this may be added, probably, the
amount of $80,000 per annum, received by the State from
P. RR. Co., making the total amount of
stock in the R. F.
current income annually available to meet interest on the unsettled debt after reserving an amount sufficient to pay interest on Rlddleberger bonds which are outstanding and cannot
&
individuals for the purpose of advancing the cause of education. The iK)licy of
paying full interest upon these obligations is really the same
which
has actuated the State in making direct appropriations to the
higher institutions of learning, and any diminution of the
amount ho paid would seriously impair the educational sts'
State.
These considerations among others show the impossibility of
curtailing any existing expenditures of the Sute; and the
idea
of increasing the revenues by taxation is conceded on all
hands
to be impracticable.
It is, therefore, manifest that any negotiations for
recasting
the unsettled obligations of the Stato must proceed upon the
basis of not exceeding $330,000, available annually from
current revenues to meet interest thereon.
Aside from her current revenues the State has no resources
available for the service of the public debt, except $216,858
60
realizt d from the sale of common stock of the C. <&
O. R'y Co.
and $467,800 of common stock and dividend obligations "I
of
the
uie
*
"R. F.
P. R. R. Co.
It must be manifest to the Bondholders' Committee,
as it is
to this Commission, that these resources of the State are
utterly inadequate to meet the interest charge under the proposal made by you.
&
The Virginia Commission must also express its dissent from
most of tho views and statements that are advanced by the
Bondholders' Committee as preliminary to their proposal,
especially the statement as to the amount that would be re^
quired by the Rlddleberger Bill for the payment of interest
annually, but deem it unnecessary to discuss them controversially in this connection.
In conclusion, the Virginia Commission desires to say that
a settlement of this matter is greatly to be desired on such
basis as will guarantee stability by being within the resources
of the State and the fixed opinions which public sentiment
has formulated and if the Bondholders' Committee feel inclined to so change their figures as to bring them within the
lines above indicated, and within the limits of the powers of
negotiations conferred on this Committee by the legislative
resolution under which it exists, they will be glad to continue
;
these negotiations.
P.
W. McKinney,
J.
Hoge
Tyler,
R. H. Card well,
Taylor Berry,
H. T. Wickham,
W. D. Dabney,
Robert H. Tyler.
Vir^nia
Commission.
By
P. C, Warwick,
b^ canceled about $330,000.
Secretary.
It is proper to advert briefly to the principal items composing the aggregate amount of disbursements as given by the
statement referred to.
New York, August 11th, 1891.
The sum of $610,809, it will be noted, is appropriated to expenses of Government, and we confidently challenge criticism To the Hon. Philip W. McKinney,
Hon. Taylor Berry,
of any of the items composing it. The salaries of the State offiHon. J. Hoge Tvler,
cials, especially of its judges, are believed to be far below
Virginia
Hon. R. H. Card well,
those paid officers of equal dignity and responsibility of other
Commission.
Hon. H. T. Wickham,
States.
Hon. W. D. Dabney,
The annuities to the eleemosynary institutions, including the
Hon. R. H. Tyler.
pittance of $10,000 to the Soldiers' Home, amount to $336,000.
Gbntlemen : We beg to acknowledge the receipt of your
Most of this goes to tlie Insane Asylum, and yet it is a wellknown fact that their accommodations and facilities are communication of June 3d (forwarded from Richmond on the
largely inadequate to meet the demand upon them. There ilth) in reply to our proposal submittctl to you on June 3d for
are to-day confined in the jails of many of the counties insane the settlement of the debt of Virginia.
The inWe regret that you have felt constrained for the reasons
patients- for whom there i« no room in the asylums.
crease of insanity in the colored race since emancipation and assigned to decline to entertain the proposition to fund the
the very decided increase in the ratio of colored insjme from unfettlod debt upon a basis which would yield to the cre<litors
year toyear, is one of the most alarming problems that con- $30,000,000 in a new 3 per cent bond for the ^,000,000 outfronts thte Commonwealth. The same remarks are applicable standing on the 1st of July, 1891.
We understand from your reply that you are of opinion :
to the original charges of the State, which, in spite of all
First.
That the interest charge required by our proposal
efforts to the contrary, have for a number of years been
"exceeds the amount which wouM be payable on suoh unsteadily increasing in the aggregate.
Both insanity and crime to a large extent coupled with, and " settled obligatirms were the same funded in accordance
" with the principles of tho Riddleberger bill."
it may be said attributable to, ignorance, especially among a
Second. That the interest charge contemplated by our prorace long accustomed to a state of slavery; the danger to the
institutions of the State resulting from the sudden enfran- posal "exceeds the amount the State is able to pay after dis"
charging its Constitutional obligations and providing other
chisement of the colored race, not only devoid of education,
but without means of educating their children, has forced the " necessary expenses."
best
proRespecting the first we respectfully submit that the joint
State, as a mere matter of public safety, to make the
vision in its power for public education. To a very large resolution of the Legislature of 1890 (•' apiwinting a Commispurposes
are
sion
educational
to receive propjsals for funding tho debt on the princiextent the revenues provided for
dedicated to that object by the Constitution itself, and are ples of the Riddleberger Bill") was construed to mean that a
beyond the powers of the Legislature; and whatever amount -settlement would be had if the bonds were tendered on that
in addition thereto is devoted to the same end, is absolutely basis.
This construction rested upon the following facts:
necessary to maintain the common school system in its present
The message from the Governor of Virginia to the General
condition of efficiency.
The experience of Virginia, in common with that of other Assembly in February, 1890, recommending the appointment
States and countries where general common school education of a Debt Commission.
:
,
:
THE
802
(^HRONECLE.;^
fVOL. LIIl.
Nkw
March,
The joint resolution of tJie Grenpral Assembly, passed and apof the Governor,
1890, adopting the recommendation
York. August
35th, 1891.
Frederic P. Olcott, Esq., Chairman Virginia Bondholdert'
Committee.
"Dointinff ycur Commi-^sion,
Deab Sir: For the information of the Committee, I beg to
and
The agreement between the Bondholders' Committee
which submit conclusions based upon recent correspondence and perthe bondholders, dated 13th day of May, 1890, ander
Commission upon sonal interviews with representative citizens during a visit
this Committee is empowered to meet your
of the Riddle- to Virginia as a member of your Committee, in the interest of
that common ground, namely, the principles
within the the bondholders. The ^unveiling of the statue of General
berger Bill, and to submit to you a proposition
"Stonewall" Jackson at Lexington, Virginia, on the 31st of
terms of said joint repolution.
»
,
,
^
ascertain July, the meeting of the "Virginia Bar Association" at White
For this reason it appeared to be our first duty to
the State, Sulphur Springs on the 39th of July, and the Convention of the
Bubatantially the amount which would be due by
Eiddleberger UiU, "Farmers' Alliance" at Eichmond, Virginia, on the 18th inst.,
as of this date, under the principles of the
public. In afforded the opportunity for an interchange of opinion relative
vspon its unsettled obligations in the hands of the
debt settlement.
making certain investigations necessary to this end (based to the proposedwith
men of every shade of political opinion,
I conversed
upon the official records of the State), we became convinced
the and became impressed with the following facts:
that those principles carried into effect would yield to
First. That the sentiment of the people of the State is
bondholders more than the amount asked for.
strongly in favor of a settlement provided it can be made
Respecting the second objection to our proposition, namely,
exceeds without further political agitation.
that the interest charge contemplated by our proposal
Second. That a rumor having reached the people that a difthe amount the State is able to pay after discharging its conference between the annual interest charge named by the
stitutional obligations
, .
xi
»
*
maximum unofficially suggested by memIn submitting our proposition we were gOYerned by the fact Committee and the
bers of the Commission is considerably less than $100,000, the
that the amount provided by the Eiddleberger Bill to be aphope is urgently expressed by men of all parties that means ba
plied to the payment of interest was ascertained and set
found of compromising this difference.
apart (in the words of the act) out of
Third. That it is probably impossible to obtain an official as•'The net revenue of the State remaining and so derived
surance to this effect pending the elections for the Legislature
after providing for the proper and gradual liquidation of the
balance of the moneys heretofore diverted from the Public because the value of that assurance will depend largely upoa
Free School Fund, after liquidating gradually the arrearages the personality of the members who may be elected.
Fourth. That prior to the election early in November the
to the Literary Fund, and leaving some small margin for the
immediate and su'sequent exigencies which are and are likely cmvass for which is now in progress, it would be injurioua to
to be demanded by the public welfare— notably in respect to the interests of the bondholders to require the Virginia Debt
the humane institutions, now inadequate to the proper accom- Commission to state the maximum which they would recommend the Legislature to pay, because whatever amount might
modation of that unfortunate class of every population."
have been informed that taxable values having in- be named, would be used by men belonging to one or another
creased ninety-one million dollars since the passage of the of the three political parties to affect some special candidate
Eiddleberger Bill, the revenue has not decreased notwith- or local measure; thus reviving animosities touching the debt
Btandiugjthe fact that the tax rate has been reduced since that which your Committee has striven with much success to
allay.
date from fifty to forty cents on the hundred dollars.
Filth. That with the exercise of sound discretion during the
have also been inff;rmed that while a portion of the
revenue collected since 1883 for the paycient of interest, has next 90 days a compromise may be reached half-way between
been used for other purposes, a considerable part of it has our minimum and their maximum.
I have these expressions of opinion from leading " Eepublibeen invested by the State in Riddlebergpr bonds, amounting
to about ?3, 500.00(1, now held in tiust as applicable to interest, cans," "Democrats," "Readjusters" and members of the "FarmAll, however, urge that we do not permit the
ers' Alliance."
under legislative enactment which piovided that,
" The bonds so purch.iscd shall be held as a security for the subject to be publicly discussed pending an election in which
payment of the interest on the public debt of the State a^ it each of the above parties, although not now formally organized against one another on this question, will probably attack
shall or may have accrued when funded under the Act aforesaid, and the same may I e re-sold when necessary by the said any position which may be taken beforehand by any one of
Commissioners, and the proceeds of such re-sale ba so used the others. I am assured by the best men in this State that
whenever the finances of the State may so require provided your Committee have, up to this time, pursued the wisest
that said Commissioners may in their di-cretiou from time to course possible to obtain the best results for the bondholders ;
time, when money is required to pay the interest upon the and that having reached a point where the Committee and the
debt aforesaid, borrow money upon temporary loans for such Commission are substantially in sight of one another, the peopurposes, and deposit such bonds as they may have acquired ple, at first hostile, then indifferent, but now becoming thorunder this act, as collateral security for such temporary oughly interested, will seek some way of compromising ext
—
,
•
We
We
;
isting differences.
can.'
There circumstaiices, strengthened by the appointment of
your Ccmmissicn, led us to assume that the ability of the
State had not been impaired, and that the interest charge
proposed by us did not exceed that ability as measured by the
principles of the Act of 1883.
We have carefully considered the statement of the Commission as to the
amount which may
be applied to interest out of
Of course there are many who continue to insist that the
State cannot even pay the maximum which has been unoffibut I am
cially suggested by members of the Commission
;
encouraged by almost all with whom I have communicated,
that a more hopeful view will be taken even by those persons
after the election and I am urged by all to request the Committee to continue for a little while longer the line of action
which has produced so marked a change in Virginia senti;
the current revenue, but w e have such confidence in the future
prosperity of Virginia, if a settlement be now made, that we ment on
this subject.
feel assured, before the expiration of five years, the revenue
An amicable settlement depends upon the growth of that
applicable to interest on the bonds which may be issued to sentiment during the next two months.
compromise the unsettled debt \vill far exceed all possible
I am, very sincerely yours,
charges; and from the foregoing statement itappears that any
(Signed)
HuaH R. Garden.
deficiency occurring within the five years (by reason of present demands for other purposes) may be met by applying,
from time to time, so much as may be required either of the
Eichmond, Virginia, Sept. 25, 1891,
rust funds mentioned held as secuiity for that purpose or the To Messrs.
other assets mentioned by the Commission, aggregating in
Frederic P. Olcott,
bonds, cash and stock more than $3,300,000.
Henry Budge,
1
These facts appear to us to warrant the conclusion that our
Hugh R. Garden,
Bondholders' Committee,
proposition was within the principles of the Eiddleberger Bill,
William L. Bull,
and also within the ability of the State but in view of your
Charles D. Dickey, Jr.,
communication, and endeavoring so far as our obligations to
John Gill,
J
the Bondholders will jjermit, to meet the view of the CommisGentlemen: Your communication of date of the 11th
sion, we are now prepared and respectfully ask to amend our
ultimo was delivered to me by your counsel, Col. W. W.
proposition submitted on June 3nd, as follows, to wit
city after a protracted absence.,
The Committee proposes to surrender as of July Ist, 1891, Gordon, on my return to the
inst.
I, in an informal letter to Col. Gordon,
rot less than $33,000,000 (principal and interest) for such a pro- on the
Since that time I have given the
portion of ?19.000,000 of new 3 per cent bonds as the amount acknowledged its receipt.
matter most careful consideration, and have conferred with
eurrendered bears to $38,000,000.
like myself, most
In ail other respects the proposition to remain as stated in some of our prominent public men, who,
earnestly desire to reach, through the agency and cooperaour communication of June 3nd, 1891.
setAwaiting the favor of your early reply, we have the honor tion of the New York Committee, a final and satisfactory
tlement of our public debt. My conclusion is, that the condito be your obedient servants,
tions just now existing in Virginia are not favorable to a sucFrederic P. Olcott,
cessful termination of the negotiation, if immediately proHenry Budge.
ceeded with further.
Hugh E. Garden,
(Bondholders
The members of the Virginia Commission live in remotely
William L. BuU,
\
Committee. different sections of the State, and, with scarcely an exception,
Charles D. Dickey, Jr.,
are actively engaged, either as candidates for re-election or as
John Gill,
J
public speakers in the canvass, preliminary to the Legislative
By F, P. Olcott,
election to be held on the 3d day of November. Under these
Chairman,
circumstances, it would be inconvenient to convene the
Ellis T
members of the Virginia Commission here now, and when
fciecretary.
convened difficult to get their deliberate, patient attention to
J-
;
I
—
ji
1
CS
,
NOVEHBCB
THE CHRONICLE.
28, 1891.]
•o important, a problem as the jU'^t and gatiufactory settlpmcnt
of our public ilol't.
My earncsl desire that the noRotiationa trhich have been
commenced may prove successful, and my stronK conviction
that it would, for the reasons above f^iven and for many other
raasons, be best for the negotiations not to be now proceeded
with further, but simply be held in abeyance till after the
election, induce me to suRRest that the VirRiuia Commlasion
shall not be convened to answer your communication till a(t«r
the election.
Feeling anxious that the future steps in the premises may
be taken under the nio«t favorable conditions for the attainment of the end, as earnestly desired by you as well as by
myself, I make this suRRestion for your consideration, and
will be glad to have a candid expression of your views in the
premises before any further action is taken.
I
have the honor
to be.
Your obedient
P.
servant,
P.
tax- receivable feature attache<l to int«reat obligation*.
Such new bondn to be exchanscd for the obliKationii now
held by the
York Committee in the proportion of 14 to
28.
It being understood ai tne basis of this resolution that th«
New
New York Committee now
holds $38,000,000 of obligations,
being further understood that the new issue proposed
shall in no ca^e exceed $18,000,000.
This exclades nbligatioBS
held by schools and colleges. The ratio of exchange here sug>
give
York
gested would
to the Now
Committee in exchanga
for the $28,000,000 held by tbein the face amount of $14,785,700 in the new Ijonds.
Correct copy.
P. C. Warwick, Secretary.
and
it
Richmond, Va., November 18, 1891,
To the Oovernor of Virginia and Members of the Debt Com-
—We
Gentlemen:
beg to acknowledge the receipt of the
resolution passed at vour tueoting to-dav, which, as wo have
stated to you, we will make known to our depositing securi^-
Chairman.
Honorable
Bonds to 1)0 iitsued bearing interest at 2 per cent for ten yearn
and 8 per cent for ninety yean. Such bond* are not to !»»•
mission:
W. McKlNNEY.
803
New York, October 28, 1891.
W. MeKinney, Oovernor of Virffinia, Chairman
qf the Virginia Debt Commiitsion.
Dear Sik— In the absence from the City of the other members of the Bondholdcri' Committee, Mr. Garden acknowledged, through Colonel Gordon, the receipt of your letter of
the 25th ult.
Appreciating the importance of your suggestion that the
Virginia Commission should not be convened to consider and
answer our communication of August 11 until after the Legislative elections to be held on the 3d of November, and cordially reciprocating your earnest desire to reach a settlement
of the public debt, we beg to convey to you our entire concurrence with the views expressed in your letter.
Looking to that clause of the Agreement of May 12, 1890,
under which the obligations of Virginia are deposited, wherein
provision is made for the withdrawal of the Bonds, in the
event of a failure to come to a satisfactory adjustment on or
before December 31, 1891, may we suggest the propriety of
convening your Commission at such earlv date as may be
practicable; and, if possible, not later than the 15th of November, at which time, should it be necessary, we will hold ourselves in readiness to wait upon the Commission at Richmond
to discuss any matter of detail involved in our proposition.
We are respectfully
owners, but without our recommendation.
After the discussion with your Sub-Committee last evening
it hardly seems necessary to state at length our reasons fot
withholding our recommendation.
We will, however, cheerfully recommend either of the following propositions:
A three per cent 100-year bond, similar in form and feature
to the Riddleberger Bill, for $18,000,000; or a bond, similar in
form and feature to the Riddleberger Bill, for $19,000,000 at
100 years, the first live years interest to run at 2 per cent, the
next live at 2}^ per cent, the balance of the term 3 per cent.
I
am, Gentlemen,
With great respect.
Your obedient Servant,
F. P. Olcott.
Chairman.
Richmond, Va., November
18, 1891.
To
Frederic P. Olcott,
William L. BuU,
Charles D. Dickey, Jr.,
Henry Budge,
John Gill,
Hugh R.
Committee.
Garden,
On yesterday you submitted to the Virginia
Commission a proposition to settle the obligations of Virginia
mentioned in the Riddleberger Bill (not heretofore funded under that bill, and now outstanding in the hands of the public,
Bondholders'
Henry Budge,
but not including bonds held by schools and colleges) on one of
Committee.
Charles D. Dickey, Jr.
the two following bases viz., an issue of $18,000,000 of bonds
Hugh P. Garden,
as one alternative and of $19,000,000 as the other in lieu of the
John GUI,
outstanding obligations aforesaid. Your proposition wasthat
By G. S. Ellis, Secretary,
the $18,000,000 of bonds, if issued, should run for one hundred
years, bearing 3 per cent the entire period, and that the
commonwealth of vikginia.
$19,000,000 of bonds, if issued, should run for one hundred
>
Governor's Office,
years, bearing 2 per cent for five years, 2}^ for five years, and
Richmond, Va., Nov. 10, 1891.
f
3 per cent for the remaining ninety years. You further sugTo Messrs.
gested that the proposed new bonds and the interest obliga1
Frederic P. Olcott,
tions on them should in either case conform in their general
Henry Budge.
character to those issued under the Riddleberger Bill.
^^""'
We have carefully considered your proposition and are coni Bondholders' Committee.
i^'"u*o
Hugh
R. Garden
strained to say that apart from other objections thereto, which
Charles D. Dickey, Jr.,
occur to some or all of us, we fear that the State would be
John Gill,
)
financially unable to meet a settlement in accordance with
Gentlemen—The Governor, as Chairman of the Virginia either of them. It is of course conceded on all hands that a
Commission, has convened them at his oflSce in Richmond at settlement which cannot be met would be worse than no set10 o'clock A. M. on Tuesday, Nov. 17. The Governor directs tlement at all.
me to inform your Committee of the above meeting of the
Upon reflection, however, the Virginia Commission has
Commission, and to cordially invite each one of you gentlemen come to the conclusion that there are certain sources of reveto be present, as he thinks the meeting will be of the greatest nue which the State may avail herself of without increasing
importance.
taxes.
The additional income to be derived from these
sources will perhaps not amount to very much, but the VirI have the honor to be, your obedient servant,
P. C. Warwick,
ginia Commission hope they may be utilized . for the purpose
Secretary.
of accomplishing a final settlement of this much vexed
Gentlemen
Your obedient
servants,
Frederic P. Olcott,
"William L. Bull,
:
—
I
k
(
,
I
question.
Resolution of the State Commi8sior^ presented to the committee at the conference of November 17, 1891
Resolved, That it is the sense of this Commission that it cannot entertain the proposition communicated from the Bondholders' Committee under date of August 11, 1891, for the
reasons stated in the communications from the Commission
under date of 3d of June, 1891.
Resolved, second. That the chairman of this Commission be
authorized to communicate the foregoing resolution to the
said Bondholders' Committee at once, and to say that if the
Raid Committee desires to make any further communication to
this Commission, the Coaimi^sion will be pleased to receive
•
Correct copy,
the same.
P. C. Warwick, Secretary.
:
.
commonwealth of
.
virginia.
)
Governor's Office,
Richmond, Va., November 18tb, 1891.
Resolved, That the Commission is willing to report to the
Legislature recommending a settlement of such of the obli)
gations of the State referred to in the Riddleberger Bill now
outstanding in the hands of the public aa have not yet been
funded under that bill, so that the whole amount which may
$18,000,000.
J)e issued under &uch settlement shall not exceed
It is a well-recognized fact, too, that the large business interests of the State, among which may be mentioned the railroad companies, in their anxiety for a final settlement and
looking to the general increase of credit and prosperity to result therefrom, have evinced a willingness to respond to such
public demands as
fairly be made upon them for the attainment of the object in view.
This Commission will therefore make to the Legislature a
may
favorable report U|x>n the $10,000,000 proposition if the same
will recommend a
be modified as follows that is to say
proposition to issue a maximum amount of $19,000,000 of
bonds to be exchanged for tlie outstanding obligations of the
State mentioned in the Riddleberger Act (otbar than those
held by schools and colleges) now in the hands of the
public, but not including
bonds already funde<l nnder this Act, such new bonds to run for one hundred years
and to bear 2 oer cent interest for ten years and 8 per cent for
ninety years. The tx>nds and interest obligations shall be of
the same general character as those provided by the Riddleberger Bill, and it is distinctly understood that the coupons or
other interest obligations are not to be receivable for taxes.
The proposed new Ixinds shall be exchangeable for the outstanding obligations aforesaid, in the oroportion of nineteen of the
former for twentj-eitjbt of the latt«r. This recommendaUoa
—
:
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:
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:
THE CHRONICLE.
804
on the understanding that
of course to be made conditional
exchange toe
your Committee hold and has the authority to
communications to us
obUgations mentioned in your previous
amounting to at least $23,000,000.
P. W. McKinnev,
is
of
[Vol. Lin.
an advantageous agreement in the future
is
far
from en-
couraging.
The end sought is the settlement of an indebtedness the
character of which has not in all respects been universally
conceded, and the just amount of which has been earnestly
disputed. In this condition of affairs, it seems to us that if a
J. Hoge Tyler.
settlement is promised which on the whole appears to be exR. H. Card well,
pedient, no slight variance in terms should be allowed to deCommissien.
y Virginia
Taylor Berry,
feat the plan.
H. T. "Wickham,
do not think the adjustment now proposed should be at
W. D. Dabney,
all regarded in the same light as a scheme to float new securiRobert H. Tyler,
ties of the State of Virginia for the purpose of raising money
to meet immediate exigencies, but rather as the compromise of
P. C. Wabwick, Secretary.
debt by the creation and delivery of valid and intrinsically
valuable public obligations, which, though not perhaps of the
Richmond, Va., Nov. 19, 1891.
character most favorable for speculative purposes, must be reand the members of garded in the hands of permanent owners as securities derivTo the Governor of the State of Virginia
ing absolute safety and value from the pledge of the faith of a
the Debt Commission
^
j
«
acknowledge the receipt to-day of your sovereign State, combined with the willingness and ability of
Gentlemen—
Our underatanding the State to make prompt payment.
communication dated the 18th inst.
if we will amend our proposiThe extended period which the proposed bonds are to run
Of your communication is that
will be unanimously a^opted^y
should not be disregarded in considering their desirability.
tion on the following basis it
$19,000,000
These suggestions are made not without the hope that they
your Commission, viz. That there be an issue of
bearing mterest at 2 per may in some degree aid the hearty acceptance of an adjustof bonds having 100 years to run,
remainfor the
ment which impresses us as a consummation which should be
cent per annum for ten years and 3 per cent
bonds issued are to con- a cause of satisfaction to the bondholders and congratulation
ing nmety years, and that the new
Biddlethe
form in the ceneral character to those issued under
to the people of the State of Virginia.
^wl Represent over $23,000,000 out of $28,000,000
Dated November 25, 1891.
held
by
bonis
(excluding
Grover Cleveland,
of debt itated by vou as outstanding
of
the
colleges
Thomas F. Bayard,
the United States and the schools and
such
under
that
understand
therefore
State).
E. J. Phelps,
of
$19,000
receive
should
amended proposition we
George S. Coe,
surrennew bonds for every $28,000 of old indebtedness
G. G. WiUiams.
for
receive
are
to
we
that
saying
dered. It may go without
interest
and
bonds
old
the
of
portion
the West Virginia
under
thereon similar certificates to those issued by the State
New Bonds and Stocks Authorized or Offered.—The followbeg to say that the proposition
the Riddlebeiger Bill.
ing
is a list of new issues of securities offered or to be offered
constituour
will
go
to
by
you
amended
submitted by us as
bear
N. C— $40,000 city hall bonds are authorized.
Charlotte,
new
bonds
to
recommendation,
cheerful
ents with our
Gkeesboro, N. G — *30.000 school bonMs are authorized.
interest from July 1, 1891.
Jackson, Tenn.— $^.^.000 6 per cent 30-year improvement bonds.
desire now to acknowledge the uninterrupted courtesy
Bids will be received till December 1.
department bonds have been authorized.
of your Commission during these protracted and delicate Lowell Mass. $10,000 fire
PiTTsriELO, Mass.— *6,000 water bonds are authorized.
negotiations, and if in discussing these questions any abruptHoesk Shoe Oo.— $87.5.000 7 per cent
Perkins
Island
KHODE
ness has been shown we trust that your honorable body will
oumulaiive preference and $J00,000 common stock la offered for
BUbscription. For details see advertisement in another column.
not attribute it to a want of appreciation of the courtesy which
has at all times been extended to us. We are, gentlemen,
Pacific Mail.— The announcement made on the Street on
your obedient servants tor the Virginia Bondholders' ComF- P- Olcott,
Wednesday that the Pacific Mail Steamship Company had
mittee,
Hugh R. Garden.
been awarded the contracts for mail service to Central
America was incomplete, as the company has also received
the award for the service to China and Japan. The mail
New York, Nov. 25, 1891.
routes awarded to the company in detail are: No. 42, between
New York and Colon; No. 44, between San Francisco and
Panama; No. 47, between San Francisco and Hong Kong,
stopping at Yokohama. The compensation in the first year
:
In the Matter
under these contracts will amount to $300,000, and thereafter
will be about $500,000 per annum. The contracts go into
of
effect on January 1.— Evening Post, Nov. 27.
~|
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We
We
We
;
The Settlement of the Debt
of the State of Virginia.
I
Kichmond & West Point Terminal.—The directors' meetWednesday was apparently more harmonious than had
ing on
;
been anticipated. Mr. In man, as President, was authorized to
send out a circular soliciting proxies for the annual meeting-
Whereat, The undersigned, under and in pursuance of a
certain agreement dated May 12, 1890, between Frederic P.
Olcott and others therein styled the Bondholders' Committee,
creditors of the State of Virginia, were constituted an Advisory Board for said creditors to examine such
plans or propositions for the adjustment of the debt of the
State of Virginia as might be formulated, and to state their
approval and recommendation, or the contrary and.
have been fully advised of the progress and
Whereas,
conclusion of the negotiations between the Virginia State
Commission and the said Bondholders' Committee, and have
carefully considered the history of the case and the condition
to which it has been conducted, and the result attained, as presented by the report of said Bondholders' Committee
Now. therefore, we, as such Advisory Board, do hereby approve and recommend the plan of settlement of said debt as
the same is embodied in the report of said Bondholders' Committee, as follows
The Slate of Virginia in settlement and cancellation of
Twenty-eight Millions of such indebtedness, shall execute and
deliver iis bonds for the sum of Nineteen Millions of Dollars,
or in that proportion for the amount of indebtedness which
shall be surrendered. Said bonds shall be payable in one hundred years after their date, and draw interest from the first
day of Julj 1891, at the rate of two per cent for the first ten
years after that dale, and at the rate of three per cent for the
remaining ninety years, and until the maturity of said bonds.
In thus approving the plan presented to us, we deem it
proper to say tbat we should consider it unfortunate for the
creditors and all concerned, if the subject of this indebtedness
and its settlement should be allowed to again fall into the
vortex of popular political discussion and dispute.
In view of the diflferences which have been compromised,
the divergence of cpinion which has been overcome, and the
sentiment favorable to adjustment which has been aroused
among the people of the State by patient negotiation and conciliatoiy aruument, wo are decided in our judgment that if
the terms of tettleiueut now proposed are rejt.-ctoil,the prospect
and certain
;
We
:
,
to be held
December
8.
This circular stated that the gentle
consented to "carefully inquire into
and examine the condition of your properties, and to aid
your company in perfecting the best plan for the permanent
adjustment of its affairs." The proxy, if returned, would be
voted so as to secure their action in the manner indicated and
for the re-election of the present president and board of diThe gentlemen named were Messrs. Eckstein Norrectors.
ton, William Salomon, of Speyer & Co.; Jacob H. Schiff, of
Kuhn, Loeb & Co. F. P. Olcott, President of the Central
Trust Company Charles S. Fairchild, President of the New
York Security & Trust Company, and Louis Fitzgerald,
President of the Mercantile Trust Company. President George
F. Baker, of the First National Bank, was added to the committee, but his consent to serve was yet to be obtained.
The present directors have consented to serve, if re-elected,
pending the formulating of a plan by the committee. When
a plan shall have been adopted by the committee and board of
directors, it is intended to invite the stockholders to ratify the
same and to hold an election for a permanent management.
men named below had
;
;
Tlioiuson-Houston.- The Boston Journal gives the following comparative statement of the business for the three
months ending October 81. 1891 and 1890. and for the nine
months ending same dates in 1891 and 1890. The proSts shown,
however, are for the Boston office only.
Quarter ending October 81: Gross sales, $3,098,573; increase,
$313,500; all exiienses and commissions, $2,373,405; increase
$194,523; net profit, $825,165; increase $118,978.
Nine month.s ending October 31 Gross sales, $7,163,411 ;
all expenses and commissions, $5,600,638 ;
decrease $349,109
decrease, $387,803 net profit, $1,562,783 decrease, $64,306.
:
;
;
;
Toledo St. l.ouis& Kansas City.— Comparative gross earnings of thi^ railroad for the six months ending Nov. 80 for four
vears have been as follows (November. 1891, being estimated):
In 1888, $336,357; 1889, $607,941; 1890, $828,105; 1891, $1,109,The net earnings for the same six months, June 1 to De876.
cember 1, 1891, are estimated at $325,4C4.
..
.
NoybmberSS,
.
THE CHRONICLE.
1801.1
COTTON.
Jkc ©ammcrcial gimcs.
COMMERCIAL EPITOME.
Friday Nioht. Nov.
805
Fkiday. p. M.. November 27. 1891.
indicated by our telexram'
from the South to-night, is given below. For the week endlDf[
this evening the toUl receipts have reaobod 818,333 bale*.
The Movrurnt or rns Crop, u
87. 1891.
The interventioo
of the most popular of our close holidnys
(Tlianksgiving) lias had its influence upon the business of the
week, more especially marked because we are approaching
the end of the calendar year, when trade alway grows more
quiet.
This year is no exception, but speculations in leading
Btitples are not without interest.
recovery in cotton from
the recent semi-panic prices and a "corner" in corn are amon;{
the incidents of the week. The export demand for breadstuffs
has fallen off materially, but large quantities are still going
A
ligainHt 8^5.7 14 bales last week and 841,648 baion the previoui
we^k, making the total receipts since the 1st of Sept., 1891.
8,172,686 bales, against 3.109,252 bales for the same oniod oi
IH9U.8howingan increaae since Sept.
KtenpUat—
Mon.
Ghtlveston
EI Pa«o, Ao...
Hew Orleans...
1,
1801, olTti.iSibolm.
5,190
8,060
9,189 11,303
0,927 21,057 82,146 14,378
2,317 3,143
1,400 1,353
8,883 26.005
815 2,317
0,168 11,266
7,671
8,S31 18,657
Mobile
Florida
668
Savannah
4,719
7,244
8,471
930
4,006
1,570 "2,007
1,329
6-46
6-65
395
310
1,288
129
1,036
38.013' 65,915 313,235
give the following table showing th*
week's total receipts, the total since September 1, 1891, and
the stock to-night, compared with last year.
6-37
6-36
636
6-40
n
6-34
6S5
6-5 J
6-58
£
Fi'bruary delivery
1891.
6-63
1890.
6'60
6 75
665
6-68
ft
Receiptt to
6-86
March delivery
6-72
6-70
675
6-76
vf
Sitiee Sep.
TMi Since Sep.
Nov. 27.
Pork has met with a moderate demand and closes firm
Week.
1, 1891.
Week.
1, 1800.
quoted at $10^ $10 25 for old mess, $10 50@11 for new mess,
Salveston
60.919 650,472 33,064 570,095
$9 50@ $10 for extra prime and $13(i$15 for clear. Beef has
ElPaso.ifbo.
14,485
1,021
993
5,114
been dull; extra mess, $7 50@$8; packet, $9 50® $10 50; family, Kew Orleans. 112,296 1,052,695 84,690 834,860
11,345 147,263 12,463 144.672
$10@$12 per bbl,; extra India mess, $17 50@$30 per tierce. Mobile.
7,146
568
332
23,014
Beef hams are firm at $12 75* $13 per bbl. Cutmeats have Florida
44,403 604,112 42,673 607,6,'54
further declined, and the lower prices have led to a large busi- Savannah.
Brun8.,<lko
87,243
9,426
00,264
8,653
ness, especially in Western cured for forward dehvery, the
298,570 13,562 254,303
17,021
transactions reported to-day exceeding 2,000 packages, most Oharleston
P. Royal, J(C
770
155
301
for February. City cuts sold at 5^c. for pickled bellies, men^llmlngton
o.
o.
c.
o.
January delivery.
4,436
9,426
711
155
1,966
194
3,029
we
For comparison
FYl.
TAurf.
1.0211
for corn.
DAILT OLOSINO PBIOES OF LAKD rUTUBIEg.
Sat.
Mon.
Ttiei.
Wetl.
T\ur.
TMM.
Wed.
forward on previous purchases. Heavy and general rains
Bnuuw'k,Ao.
have completely removed the edects of the recent drought.
Ohurleston
8,148 5,103 1,848 3,240
Port Eloyal.Ao
Lard on the spot has been comparatively quiet, and latterly
1,207
1.371
1,220 1,682
prices have been drooping, but to-day the close was tlrm at Wilmington....
WaiAi'Kton,Ao
6'lOc. for prime City and 6-45^6-47i^c. for prime Western,
Norfolk
2,471 4,811 4,173 3,950
with refined for the Continent quoted at6-60^6'80c. For
West Point... 3,266 1,384 3,541 1,877
future delivery prices had a drooping tendency, but to-day
N'wp'tN's.io.
600
became very active, the transactions aggregating 15,000 New York
Boston
824 1,153 1,071
898
tierces, and prices made a slight recovery, owing, it was said,
Baltimore
to a demand to cover contracts, stimulated by the less liberal Phlladelpb'a.Jko
948
289
599
668
arrivals of swine at Western points and to the dearer markets
rotals this week 41,697 68,234 66,007 43.359
December delivery
FH.
Tuei.
Stock.
1801.
1890.
>
. .
.
.
dium
weights, shoulders at 5%c., hams at 8c. Tallow closes
active at 4 9-iec.rd;45^c., the higher figure for choice. Stearine is quiet at l%c.'ail%c. in hhds. and tcs. Oleomargarine is
lower at SJ-^c. Butter is dull at 23 a 30c. for creamery.
Cheese is dull at 10®lli^c. for State factory, full cream.
Coffee on the spot continues in fair demand at about steady
prices.
Rio is quoted at 13j4'c. for No. 7. To-day's sales inincluded Rio No. 7 to arrive at 12^fal3J^c. and to be shipped
at 125^fal8p4c. Mild grades have made no important change;
good Cucuta is quoted at 19i^c. The speculation in contracts
has been moderatively active, but values have been unsettled.
To-day, however, there was an advance on advices received
from Europe that renewed political troubles are expected in
Brazil and on reduced crop estimates. The close was firm,
with sellers as follows:
Hovemlier
13-OOe. February
ll-85c. May
ll-65c.
December
12-30o. March
ll-7.5o. June.
ll-fiOc.
January
..ll-95o. April
ll'70o. July
ll-55c.
partial
advance of 5® 30 points for the week.
a
Raw sugars have been quiet but steady at 3;^c. for fair refining Muscovado and 3J^c. for centrifugal-s, 96 deg. test. Today molasses sugar, 89 deg. test, sold at 2%c. ex ship.
Refined i-ugars have also been quiet and values have weakened
a trifle crushed is quoted at 5{ii5},^c. and granulated at 43-16
(94 5-lOc. At the tea sale on Wednesday the offerings were
larger and prices were easier.
—
I
I
I
I
;
Kentucky tobacco has been more active. Buyers have been
market for the Spanish contracts, and sales for the week
are800 hhds., of which 600 for export. Seed leaf has been
dull, and prices are scarcely so firm, owing to the excellent
in the
outturn of the new crop. Sales are 1,000 cases, as follows:
450 cases 1890 crop, Pennsyhania Havana seed, UicbiOo.; 150
cases 1890 crop. New England Havana, 21i(t 55c.; 250 cases
1890 crop, Wisconsin Havana, 13 it 14c., and 150 cases simdries. 6 a 35c. also 600 bales Havana, 70c.@$l 15, and 150 bales
;
Sumatra, $2" $3.
On the Metal Exchange Straits tin has been quiet, and the
only transaction reported to-day was ten tons for the second
half of December at 20-05c.; quoted at 20-lOc. for February.
Ingot copper is dull and weak, closing at lie. for Liake.
Damestic lead is quiet at 4}^c. and spelter is quoted at 4%c.
The interior iron markets are steadier. It is reported that
steel rails, aggregating 211,000 tons, were sold all at $30 at
mills. Large sales of domastic pig iron are reported, including grey forge at $13-50^$13-75, and Bessemer at $15a$15-2o,
both at Pittsburg.
Refined petroleum is quoted at 6'40c. in bbls., 7*70c. in
cases and 3-90c. in bulk; naphtha, 5'50c.; crude in bbls., 5-70c.,
and in bulk 320. Crude certificates sold to-day at 57^{f<i
SSJsc, closing at 57^c. Spirits turpentine is again easier at
oiU'ii'Sii^c.
Rosins are quiet but steady at $1 3r)(o;$l 40 for
strained. Wool continues very dull and bops are less active.
8,256
Wa8b'tu,&c
Norfolk
West Point.
NwptN.,&c
irew York.
Boston
Baltimore.
..
194
22,539
13,645
1,329
1,205
5,234
..
129
Phll'del'a,&c
3,540
Totals
100,973
1,073
261,086
158,024
12,183
7,33
36,992
7,733
24,055
5,570
314
20.670
15,092
2,511
661
3,862
5,793
2,173
126,024
1,336
294.650
167,580
11,258
9,188
18,067
15,806
14,086
161,157
75,851
398,301
38,962
220,669
27,544
129.696
12,094
94,300
135.921
23,934
56,831
18,239
20,903
69,540
9,085
40,243
l,740j
2,803
59,309
20,000
253,469
23,500
20,241
1,613
12,983^
8,764.
313,225 3,472.686 253,091 3,199,252 1,241,055
705,844
1
In order that comparison may be made w ith other years,
give below the totals at leading ports for six seasons.
Beeeiptt
at—
Qaiv'Hton,&c
New Orleans
1890.
1891.
1889.
Wt Point, Ac
Al others.
61.940
112,296
11,345
44,403
17,176
8,450
22,539
14,974
20,102
34.037
84,699
12.463
42.673
13,562
5,881
20.676
17,603
21,474
38.566
109,956
13.297
42.906
19,206
6.806
18,938
17,583
21,260
Tot. this week
313.225
253.091
288.618
Mobile....
Savannah.
Oharl'st'n.ibo
Wllm'gt'n,4c
Norfolk...
we
1888.
1887.
1886.
21,530
97,044
10,909
36.268
33,003
84,556
39.005
94,654
16,023
39,387
20,823
7.048
33.778
10,738
13.365
19,5481
9,350
22,373
27,636'
13,433l
10,049
33.319
15,614
8,301
23,345
23,105
15,124
258.09lt 252.406' 275.71*
81noe8ept.l. 13472,686 3199.252 3096,824 •2616.462 3180,046 2713,590
The exports for the week ending this evening reach a total
of 259,343 bales, of which 150,608 were to Great Britain, 21,995
to France and 86,749 to the rest of the Continent. Below are
the exports for the week, and since September 1, 1891.
Wetk BnUna Non.
MBVortta
fnn
—
Artt'n.
t8.S(M'
4,295
8.««
N*w
M,7»e
7,760
24,812
t.75l
a0.86S
t,S60
tl,077
n»
«.«a7
Orleans.
....
6330
Charlsston....
MJUA
Wllmlnston...
Norfolk
Woat Point...
N'portMws.Ao
Nsw
York..
Boston
Baltlmor*.
Phlladslp'ajko
ToUl
Total. ISBO..
AK
1,
tSti, (a
(I
Son.
n.lMt
•,781
gsTiouiah
Bnmswtek
JVom
fMflt.
QalTeston
Mob. & Panolt
VI.
to
OonM-
Ortat
MM
1S,7«1
4,70S
t.o»s
lis
su
1,778
too
U«.«M
tl,M6! i«.7(B
WU4TI
US.MtiMW.SM lOS^lai
t».n»
IS.TSt' 64.461 l74.78«ll,M0.?»e
aSB.SM «JW.1«»
«
'
THE CHRONICLE.
60B
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
add similar figures for
cleared, at the ports named.
New York, which are prepared for our special use by Messrs,
Carey, Yale So Lambert, 34 Beaver Street.
K-H
9
We
\you Lnii
H
«1
S?
m
to
B'S-"^ BS'^'S 5-S--i
'"'aS^ J>-eS§ T'^oS^:
a
s
OD
OtTJOpo
Oh3X»
o2-E.g
» »?
B-S-"^
2.E.S
B'S-'g'
T'«S:r'
Kov. 27 at—
Shipboard, not cleared—for
Leaving
Other
Prance. Foreign
Britain.
Coast-
38,061
54,S72
7.500
2,700
12,000
24,500
6.800
30,000
26.442
2,810
None.
None.
None.
1,500
1,850
None.
19,380
2,887
15,300
20,050
2,870
10,232
3,800
1,500
None.
3,000
Total 1891... 176,433
32,602
Great
New Orleans...
Galveston
Savannah
Charleston..
Mobile
Norfolk
..
Wew York
Otber ports....
Stock.
Totat.
wise.
311,548
90,356
103.096
5.000
18,000
None.
3.C00
None.
None.
86.753
70,801
26.000
24,250
12,000
32.000
13,650
48,000
83,617
21,402
314.054
927,901
70.0.09
26.962
37,549
239.819
48,512
M
»a
M WW
,
.
24,376
45.698
13,469
28,515
95,508
83,680
1
The speculation in cotton for future delivery at this market
opened the week under review with a feeling of some depression, due to the statistical position and to the indications that
the crop would, for a period more or less prolonged, continue
But on Monday and Tuesto have a very free movement.
day Liverpool showed strength that was quite disappointing
—
our operators for the decline so much so that many who
were "short" covered their contracts, and there was some
buying for the rise. Better accounts from Manchester and
smaller receipts at some of the interior towns contributed to
the improvement. But the short interest proved to be small
to
and the operators for the rise somewhat timid; and ou
Wednesday morning, after a buoyant opening, in which January contracts sold at 8'08c. and March at8'48c.,a rise of
more than 40 points from recent inside prices, free
caused a partial decline. A violent
over the whole cotton region, but attracted no attention, except so far as it caused an
interruption of telegraphic communication. To-day a material decline at Liverpool caused a decided break in values at
this market, to which the large stocks at all points and the
continued liberal movement of the crop contributed. There
was a slight recovery in the later dealings, on a demand to
cover contracts, which arose from the reduced receipts at several of the principal interior towns.
Cotton on the spot was
in but moderate demand and prices were unchanged, closing
dull at 8J^c. for middling uplands.
The total sales for forward delivery for the week are 539,200
bales. For immediate delivery the total sales foot up this week
1,697 bales, including
for export, 1,697 for consumption,
for speculation, and
in transit. Of the above
bales
were to arrive. The following are the official quotations for
each day of the past week November 21 to November 27.
selling
to
storm
passed
io
—
Wed Th.
raon Taea
«lb.
8l8
87,6
8H,e 8Uif
GULF.
Good
9H
9k
9'^
9»8
y lb.
6i«
6ia
738
7'1,8
616
6I3
738
'/;f''«
81,
ii'«
8i;,8
81*, 6
8'»
8;^,«
9116
9»8
.Middling
."....
Fair..
10
61s
75|e
7lii„
Good Ordinary
Good Ordinary
LowMiddling
^ib.
5H
8Je
7
s§
:
•
:
:
;
;
811,6
914
9«9
6ifl
6I9
6»4
738
711,6
81,6
8»,6
6^
81a
81,6
811,6
9>4
9=8
;
<l<IO<l
jb^ob
*-*»
to
oboQ
^
^
M
8U,8
813,6
91,6
9»8
9',fl
8»5
1
aii
813,6
91,6
1
^2
U
00^
M
»
10
M
I
514"
578
711,
Tl».
Holiday.
6%
6%
6%
711,
711,8
71I16
^
!•
Saturday Dull
Monday.. Dull
Tuesday.. Quiet
Friday. ...Dull
Total...
I
Con- Spectump, ut't'n
1,109
70
tit.
Total.
1,109
59,700
95,100
106,700
162,000
'l'4"i
'il5,706
1,697
539,200
324
,.HoU day..
141
,
1.697
Salet of
Futures.
70
53
324
53
Wed'day. Steady
Thursday
'
Thk Sales and Prices op Futures are
shown by
CoUowing comprehensive table:
IJ
1
s.-^:
aeo°ta
act oi
e«;
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1
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1
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2
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SALES.
SALES OF SPOT AND TRANSIT.
Ex-
-1<1
CDob
to
6%
or the convenience of the reader we also
add
at a glance how the market closed
"==" ^^u
on
port,
^
o>
WMM-l
6«o
514
578
a column which shows
aame days.
SPOT HXBKET
CLOSED.
-?COO
1
Vri.
The total sales of cotton on the spot and for future
deliverv
each day during the week are indicated in
the following
statement.
to
(CXK)"^
».":
1
MARKET AND
too
~j-ao<i
too'^ob
*73
-^1
X
M
1
00
QOOOD
--
s
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1
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^
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.
CO
10
Wed
is:
CO
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1^
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a
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to
,
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&.«":
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(U
«5
!;'«
86,6
8i«
813,6
91,6
9=8
94
9=8
10
618
6I3
738
7lli«
b)
81,6
•
:
=
coo
tf.
Fri.
738
7iiift
odot
R*-S^
oooB
«D®
:
00
75,8
711,8
8'j«
81I1,
914
9=8
87. fl
Hifl
514
"" 6%
Middling
5\
6%
7
75,8
7llifl
nion Tnea
fltriot
5%
6%
71516
8l8
8i«
10
STAINED.
5\
7
•
•
'
a
a.=
SI
^-^^
g;
B
:
s
Fr-.
Mod Taea Wed Th.
Sat.
Ordinary
Strict Ordinary
Good Ordinary
Strict Good Ordinary
Low Middling
Strict Low Middling
"...
Middling
Good Middling
Middling Pair
6i8
7
75.,
v>
Fall
Strict
5%
53i
6I9
7
*
'5-
•
<i
OtJO.I
QCOO
Ordinary
fltriot Ordinary
Good Ordinary
Strict Good Ordinary
I/OW Middling
Strict Low MlddlinK
Middling
Good Middling
Strict Good Middling
Middling Pair
to
U)
.
E«-''B
cjiaOci,
Sat.
(jq
:
:
—
UPLANDS.
p;
.
0)
»
3;
i
cpob
-- ^
OOQD
2
realize
——
(m
to
CD
478.582
495.186
227.262
244.364
I
So-o
^^•^
1
93,909
86,471
,b;k)
1
.
7
a>
Total 1890...
Total 1889...
a;
cr?
00
W
S:
0;
'
gs|
p-ro
•
On
ft
?
1
i
1
1!
n
:
n
Ineludes sales in September, 1891, for September, 19,600; Septembtc-Ootober, for October, 344,200.
*
Thefollowina: exchanges have been
•33 pd. to exch. 500 Dec. for Feb.
•43 pd. to exch. 1,700 Deo. for Mar.
•30 i>d. to exch. 100 Jan. for Mcli.
•16 pd. to exoU. 100 Jan. for Feb.
•01 pd. to exch. 1.400 >Jov. for Dec.
19 pd. to exch. 2,700 D'?o. for Jan.
•49 pd. to exch. lOo Dec. for Mch.
•35 pd. to exoh. 1.000 Deo. for Feb.
•13 pd. to exch. 200 Mch. for Apr.
•37 pd. to exoh. 100 Apr. for Aug.
made
(iurinsr
the week:
exch. 200 Dec. for Jan.
exch. 1 , 800 Deo. for Moll,
exoh. 100 Dec. for Apr.
exoh. 600 Deo. for Feb.
exch. 700 Jan. for Apr.
exch. 5O0 Deo. for May.
eieh. 300 Meh. for May.
exoh. 100 Jan. for Moh.
Even 200 Nov. for Deo. s. n.
•85 pd. to exch. 900 Deo. for June.
•19 pd. to
•50 pd. to
•6H pd. to
•36 pd. to
•44 pd. to
75 pel. to
•25 fd. t*
•30 pd. to
The Visible Supply op Cotton to-night, as made u bv cabio
and telegraph,
as follows. The Continental stocks, as well ai
those for Great Britain and the afloat are this week's returns,
and consequently all the European figures are brought dowa
to Thursday evening.
But to make the totals the complete
Sgures for to-night (Nov. 27), we add the item of exports from
the United States, including in it the exports of Friday only,
(
is
f
;
,
;
NOVEMBKR
THE CHRONICLK
1891.]
28,
IH91.
0!)7,000
a.ooo
18U0.
7tj0,0O0
1MM9.
18HH
65 1. 000
4i;i,ooo
25,000
15,000
7,()U0
Total Great Britain stock. 1,006,000
Btook at Hnmbiirg
2.100
Btook at Bremen
87.000
Stock at Ainscertlain.
17,000
Btook at RotterUaiH..
400
Stock at Antwerp
5.000
Stock at Havre
222,000
Btook at Marseilles. ...
8.000
Btook at Haroeloua...
40,000
Blook at u oa
5,000
Btook at Trieste
24,000
785,000
2.600
93,000
a«8,ooo
420,000
10.000
1,900
00,700
3,000
S.400
lJ,0O0
300
300
300
3.000
159.000
3.000
40.000
4,000
4,000
5.000
127,000
3,000
45,000
7,000
7,000
.^00
ialveston...
100.000
2.000
31.000
4,UU0
4.00P
Vew OrleaiM
Btook at Liverpool
Stock at London
bales.
.
Total CSontlnental stooka
410,800
Total European stocks..
Indtacutton :itlo:it for Kurope
.
250.900
164.000
1,410.800 1,100,900
21.000
14,000
925.900
5S 1.000
•ja.ooo
28.0(R)
701,000
33.000
739,550
271,708
26,102
527.000
5X,000
778.973
321.058
34,900
Amer. ooifiKilloatforKiirope.
7.11^.000
Eicyi>t,Brazll.Ao.,alltforK'r^pe
4'2.000
ir),()oo
70:>,ssl
390.1)78
Total visible supply
1,400
324,900
Btook in United States ports .. 1.253.041
Stock in U. 8. interior towns..
301. 107
Dnlted Btates exports to-day.
37.379
C1-<,000
24.213
1.030,017 2,937,077 2,726,200 2,332 531
Of tlieatiove. thetotalsotAmerioauand other desorlptious are as followsAmerican—
Liverpool stock
Ooiitineutal stocks
bales.
803,000
288.000
758.000
United States stock
1,253.941
Dnlted States iuteriorstooks.. 501.497
Dnlted States exports to-day.
37.379
476.000
220.000
648.000
70,^884
390.678
24,215
Total American
Sa$t Indian, Brazilfilie.
Liverpool stock
London stock
Continental stocks
India adoat (or Europe
284,000
23.000
104.900
14,000
Amerioan
artoat tor Europe...
Egypt, Brazil,
<&c.,
467,000
170.000
701.000
739.350
271,708
28,102
318.000
97,00(1
527.000
778.973
321.658
34,900
3,641.817 2,164,777 2,375,360 2,077,531
—
191.000
9,000
122.800
21,000
42,000
afloat
&0
Total East India,
Total American
l.'i.OOO
184,000
15,000
89.900
29,000
33,000
95,000
7,000
07.000
28.000
58,000
388.800 172.900 350,900 255,000
3,611,817 2,164,777 2,375,360 2,077,531
Total visible supply
Price Mid. Upl., Liverpool.
Price Mid. Upl., New York.
1,030,617 2,937,677 2,726,260 2,332,531
l>ad.
8180.
S^ifd.
97ijo.
The imports into Continental ports
this
558d.
10>40.
57„,d.
g'sc.
week have been
SO.OOO bales.
The above figures indicate an increase in the cotton in sight
to-night of 1,093,940 bales as compared with the same date
of 1890, an increase of 1,304,357 bales as compared with the
eorresponding date of 1889 and an increase of 1,698,088 bales
as compared with 1888.
AT THE Interior Towns the movement—that is
the receipts
and since September 1, the shipments
week and the stocks to-night, and the same items
corresponding period of 1890— is set out in detail
for the week,
foi
.
.
.
.
for the
for the
in the
807
^OOTATIONH Foil MlODUNQ OOTTOIf AT OTHBB MARnTA. —
Bolow we Kive cUwiriK quotatioas of middlinu ootton at Southern and other principal ootton marketa for each day of the weaki
Wt4k tndlng
yov. 27.
OUMim
qOOT4TIOMS rOB MIDOUHO OOrroU
Xon.
Satur,
Tutl.
Wtdtui.
OH—
#H,
TKurt.
74
?5
74
*Ioblle
-lavannah...
re
.'harleatOD.
7%
74
84
VIliuliiKton
Vorfolk
Boston
Baltimore...
Philadelphia
4uKusta
..
Louis vlUe.
..
74
84
7'«
84
Zl'*
>feiupbi« ...
74
It. Ix>iils
'liiolnuatl
re
?::
It
74
7\
re
1
25
74
1
84
84
74
7'i
7'«
7%
?3l
The closing quotations to-day (Friday) at other important
Southern ibarkets were as follows:
Atlanta
77i« Little Kock
Uolnmbus, Oa.
74 Montgomery ..
7a»
I
74
(Nashville
7i>is
I
I
Newberry...
7^3 4 RnlelKb
7ag ISelma
7% aiireveport
I
I
Columbus, Miss
Gufaula
74
74
I
Natchez
«"is
I
Rkceipts From the Plantations.—The following table
indicates the actual movement each week from the plantations.
The figures do not include overland receipts nor Southern
oonsumption; they are simply a statement of the weekly
movement from the plantations of that part of the crop which
dnally reaches the market through the outports.
Wult
ReeeivU at t»« Porfj. Sfk at Interior Tawtu. Rm'p(( from Plant'tu.
1889.
Oct.
1890.
1891.
1889.
1890.
1891.
1889.
1890.
1891.
(
I
M
S20.578
"
SO.... S08.216
Not. «
800. ISS
"
18
291.488
"
SO
288.807
••
27
288,.il8
313.451 380.121 178.013 igi,9«7 310.88* 341.688
343.188 350.489 201.929 244.708 386.817 332.131
300.898 341,897 238.838 281,451 378.880 337.044
278.284 345.688 217.032 822.297 428.178 802.682
2Ba.Ml S2«.7l4[247,825l380.179 488.921 299.400
293.09l'31S.226l271.708 3«0.678'801.M7l802.«>l
3;>9.74A
132 857
392.927, 871,97«
S87,1U, 882.980
S19J30 895.S1S
8ll3.928.8«e.l57
283.690l84J.Ml
The above statement shows: 1.—That the total receipts from
the plantations since September 1, 1891, are 3.918.234 bales; in
1890 were 3,575,360 bales; in 1889 were 3,354,973 bales.
8.
That, although the receipts at the outports the past week
were 313,225 bales, the actual movement from plantations was
347,801 bales, the balance going to increase the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 383,590 bades and for 1889 they were
—
302,401 bales.
Overland Movement fob the Week and since Sept. 1,—
statement showing the overland movement
week and since September 1. As the returns reach us
'owing statement.
We give below a
for the
SOB'"
n —11 n
rb
o
•ss; ss^-Ho
so:
:
by telegraph late Friday night it is impossible to enter so
largely into detail as in our regular monthly report, but all
the principal matters of interest are given.
This weekly
publication is of course supplementary to the more extended
monthly statements. The results for the week ending Nov. 27
and since Sept. 1 in the last two years are eis follows:
1891.
C0QOK>XOt0t0cr.C0Q0C'sD:0t0OCJit5XC0<ld5W0:O«D«CO*-^CD
November 27.
8?
Week.
i*^»o<*.asoa5owoDCiooc»aii**ooD<i»wQocoo:oc5'-^ow«i
W
5^J2'^J2^*^5:^^j.^^,*®'^
Via
Via
Via
Via
Via
Via
c»^cctoN>eciM-«p»-M^*j-m,fc.^-
CD»OmQO^C;ilC*4-^XOSMta)-'p-OCD*JOO<»OWODW*k»-'00'vlOSIOOt
1^
CO
10
cji
*.
cj' -,c
^
rf- It"
Oi
if
— CJtUDOGC^jMOSnr tOCWMOS^Mio
00
co:cwtt-'COi(*--^-^wtoasaK;t;'CJOiOcc»-»
•
f
H
HM*k|fr.COCO^
w 0:
*
— C>-rf*-OOiOS--l»CtOQtCO'M-J-JOCCO
en
!-•
**
ft^
to
to
Sept.
1.
230,190
120,181
75,760
10,613
71,724
28,939
11,931
3,912
1,187
10,646
50,885, 10,432
69.956
6,610
6,781
6,266
9,183
172.915
107,239
27,928
4,1IS
68.327
57,691
82,623
M
CO
wv yi ^-w-ox^o: .t-ctcco-ico:oo
ai'jr:
— xOfOO(E)CCWOtc*"i**:£iwwc:tco>-'K-a)^
OMOCO— i-'0SCitMrfkW(t-rf^CWOC»fr3XXC0X>*.-qO0iX)0SC0O0>
o
0:00
tsojU' wco*»H-b«£o»-'COc;<'
wci
-MOO
towns
632,909
73,680
520,835
10,108
2,731
2,068
76,611
28,261
11,912
12.489
5,»00
2,.M3
68.137
34.812
29,946
Total to be deducted
14,910
146,784, 20,832
122,895
Leaving total net overland*
75,117
486,125' 52,848
897.940
Inoluding
movement by rail to Canada.
1891.
5
to
MMMM^CD'-'IO^i-'M
interior
90,327
The foregoing shows that the week's net overland movement
this year has Ijeen 75,417 bales, against 52,848 bales for the same
week in 1890, and that for the season to date the aggregate net
overland exhibits an increase over a year ago of 83,185 bales.
w ci — gj a: o 03 w rf^ooc c in xUi^'*'Tt
W:flr-x3jrf-rf^-iO
•q
Louisville
Inland, &c.,from Soutb
lb.
^^i^i^i"* i^P ?^P* ^S^^S'^
cotfk.'tc w'c;ic;iCO c o*-»-C)''?0O>^0" coo'^ff.O" wO'Occdo'Ic^wci^
•JrCX—CD-^OtODCOOHOOlCOX-lCOajOlOXCrf^Oh-CflO: -^Kirfki-t
OD^ft».j-C5_x_:opto*"toccc
Evansville
Total trross overland
Deduct shipments—
Overland to N. Y., Boston, Ao.
cooic<)uuMcoaoi^O&9C;<-'icocnoiKfc9*g
^CO
X'q<-tOICCOOCOl-»(».|«hO
35,330
19,657
7,241
6,569
Hannibal
Between
;
X CO
Sitiee
Week.
1.
CT"
c;>
05-^QD^COCt0OaDCCCr-O0"OGDi-CnOCnM*.<IO-qrf>.CiM?^0S
p^^rf^COtOi^ OtOD
Loolg
Cairo
St.
Cincinnati
Via other routes, Sio
o w c o yi
w x- CO
<i 00 « ^M*. o coTo <j !0 M w ki o woo
*-*bs
o K. -g 05
CO X o oc CO o o CD en o> to <D h- o ^ C
-^ *. -q o M
CO
(^
•O -J y- !D -v
Sept.
aiiip
H
t-
1890.
Sinet
Shls-
In Sight atut Spinner^
Taking:
Week.
!?-^?r'''3^<3DCO*-OiCOOICW«
1890.
Sinee
Sept.
1.
Mnet
Week.
SepL
1.
313.225 3,173.686 253,091 3,199.262
76.417 486,123 52,848 397,940
Net overland to Nov. 27
Soutbem oonsumption to Nov. 27 17.000 172.000! 16.000 158,000
Receipts at ports to Nov. 27
M5WW33OI*.j0CO
;
coco
J^«0K1*-M|0l^
T^S'^^S^I^^T'T^
x; coto A.u»"clo»«o»otJ''iobib5ccoD'^coco
OSji*»«yito»-qio.
CD,
CI-
^»xcias<iA.co©;
* Louisville tlgure.?
t
:
^t^l^'^ajCo'^-VcD'
I
cnoicxoxocxrococD'-'t-'i'^.coaaia'.Al
—
o«ot oxt3-gxaiXQo.tfcO<icoi*-
"net"
-
>
in both years,
This year's tigures estimated.
Total marketed
Interior stocks In
Came
exceM.
353,433
Into sight during week. 440,218
Total In sight Nov. 27
The
alx>ve totals show that the interior stocks have increased
during the week 34,576 bales, and are to-night 110,819 bales
more than at the same period last year. The receipts at all the
towns have been 6,301 bales more than the same week last
year, and since Sept. 1 they are 337,937 bales wore than for the
«ame time in 1890.
405,642 4,130,811 321.939 3,7^5.192
31,576 445.568 30,499 37H,103
Worth'n spinners tak'gstoNov.27
4,131,300
1,576,379
879,282
1
797,91
be seen by the above that there has come into sight
during the week 440,218 bales, against 353,433 bales fur th«
It will
same week of 1890, and th.it the increase in amount
to-night as compared with last year is 445,079 bales.
in sight
—
THE CHKONK^LE.
808
[Vol. bin.
of the week, the precipitation reaching eighty-flve hundredths
of an inch. Average thermometer 53, highest 68, liwest 33.
The foUowing statement we have also received by telegraph,
showing the height of the rivers at the points named at 8
Weathke Reports by Telegraph.—Our advices to-mght
almost all
by telegraph indicate that there has been ram m
at some
sections of the South during the week, and that
points bad weather lias interfered with work. The marketmg
of the crop, however, continues very free.
the
Galveston, Texas.— We have had rain on four days of
week, the rainfall reaching one inch and eighteen hundredths.
The thermometer has averaged 57, ranging from 40 to 74.
week,
Palestine, Texas.—It has rained on two days of the
the rainfall reaching one inch and fifty-seven hundredths.
The thermometer has ranged from 38 to 72, averagmg 50.
Huntsville, Texas.— There has been rain on four days of the
week, the precipitation reaching one inch and forty hundredths. Average thermometer 50, highest 68 and lowest 32.
Dallas, Texas.—U has been showery on one day during the
week, the precipitation being eighteen hundredths of an inch.
The thermometer has averaged 53, the highest being 70 and
o'clock
November
37, 1890.
Nov. 26, '91- Nov. 27,
Feel.
New Orleans
Above low-water mark.
Above low-water mark.
Above low-water mark.
Above low- water mark.
Above low-water mark.
Memphis
Nasliyille
Sbreveport
VioksburK
'90.
Feet.
30
7-4
3-7
6-2
*2-3
0-9
18-4,
4-9
13-9
15-7
* Below low-water mark.
India Cotton Movement prom all Ports. The receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to Nov. 36.
BOMBAT RECEIPTS AND SHIPMENTS FOR FODR YEARS.
—
the lowest 36.
^
c
San Antonio, Texas.—Thete has been rain on two days ot
the week, the rainfall reaching seventy-nine hundredths of an
inch. The thermometer has averaged 54, ranging from 34 to 74.
iMling, Texas.- Rain has fallen on two days of the week, to
the extent of twenty-two hundredths of an inch. The thermometer has ranged from 30 to 74, averaging 53.
Columbia. 2exas.— There has been rain on two days during
the week, the precipitation reaching thirty-six hundredths of
an inch. Average thermometer 55, highest 78, lowest 33.
Ouero, Texas. We have had no rain all the week. The
thermometer has averaged 58, the highest being 78 and the
lowest 38.
Brenham, Texas.-It has rained heavily on two days of the
week, the rainfall being one inch and seventy-one hundredths.
The thermometer has averaged 53, ranging from 33 to 74.
Belton, Texas.— We have had rain on two days during the
week, to the extent of seven hundredths of an inch. The
thermometer has ranged from 46 to 74, averaging 60.
Weatherford, Texas. It has been showery on one day of
the week, the precipitation reaching ten hundredths of an
inch. Average thermometer 53, highest 78 and lowest 88.
have had rain on three days
New Orleans, Louisiana.
of the week, to the extent of one inch and fifty-one hundredths. The thermometer has averaged 57.
Shreveport, Louisiana. There has been rain during the
week to the extent of one inch and thirty-seven hundredths.
The thermometer has averaged 51, ranging from 39 to 66.
Columbus, Mississippi. It has rained on three days of the
week, the rainfall reaching four inches and ninety-three hundredths. The thermometer has ranged from 30 to 80, averaging 56.
have had rain during the week
Leland, Mississippi.
to the extent of three inches and thirty-two hundredths.
Average thermometer 49'1, highest 71 and lowest 38.
Meridian, Mississippi. Telegram not received.
Little Rock, Arkansas.
have had rain on three days of
the past week, but the weather is now clear. The rainfall
reached two inches and forty-one hundredths.
The thermometer has averaged 47, ranging from 39 to 61.
Helena, Arkansas. It has rained slowly on four days of
the week, the precipitation reaching two inches and seventy
hundredths. Most farmers have finished picking and receipts
are falling off rapidly. The thermometer has ranged from
29 to 61, averaging 47.
Memphis, Tennessee. The falling off in the week's receipts
is attributed to two causes
bad weather and shortage in this
district becoming manifest. There has been rain on four days
of the week to the extent of two inches and eighty-six hundredths. Average thermometer 46-3, highest 61, lowest 31-6.
Nashville, Tennessee. There has been rain on three days
during the week, the rainfall reaching two inches and twelve
hundredths. The thermometer has averaged 48, the highest
being 69 and the lowest 38.
Mobile, Alabama.— We have had two inches and forty-two
hundredths of rain on five days of the week.
The thermometer has averaged 56, ranging from 37 to 73.
Montgomery, ^/abama.- Rainfall for the week one inch
Shipments
.
1891
l890 1,000
1889 3,000
l888 2,000
—
—
—We
—
—We
—
—
—
Oreat
Total. Britain
3.000
5,000
16.000
10,000
2,000
1,000
1,000| 4,000
2,000
I
Continent.
Great
Oontinent.
I
Britain.l
Beceipls.
1.
Total.
This
Since
Week.
Sept. 1.
83.000
89,000
135,000
63,000
42.000 4,000
30,000 18,000
54,000 38,000
45,000117.000
39,000
25.000
38,000
35,000
Shipments since Sept.
Shipments for the week.
Total.
Great
Britain.
Continent.
I,
Total.
Calcutta1891....
1890....
Madras—
1891....
1890....
All others1891....
1890....
Total all1891...
1890...
2,000
1,000
2,000
2,000
4,000
3,000
2,000
2,000
11,000
11,000
6,000
11,000
17,000
22,000
1,000
1,000
1,000
2,000
1,000
16,000
21,000
12,000
12,000
28,000
33,000
1,000
1,000
3,000
2,000
3,000
29,000
33,000
20,000
25,000
49,000
58,000
—We
—
Sh-ipments since Sept.
this week.
Tear Great OontiBriVn. nent.
—
—
and November
36, 1891,
EXPORTS TO EUROPE FROM ALL INDIA.
1889.
1890.
1891.
Shipments
to alt
Europe
from —
Bombay.
Sept. 1.
Total.
Se2>t. 1.
Since
Sept. 1.
2,000
42.000
49,000
2,000
3,000
30,000
58,000
4,000
4,000
54,000
71,000
2,000
91.000
5,000
88,000
8.000
125,000
...
All other ports.
This
week.
Since
This
week.
Since
This
week.
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Equpl,
Wovember
Becelpts (can tars*)
This week
Since Sept.
Since
This
week. Sept. 1.
Exports (bales)—
Since
This
week. Sept. 1.
This
Since
week. Sept. 1.
13,000 108,000
4,000 34,000
21,000 129.000 11,000
5,000
4,000 39,000
To Liverpool
To Continent
'
200,000
1,602,000
160.000
1,?37,000
250,000
2,089,000
1.
1889.
1890.
1891.
25.
25,000 168,000 16,000 159,000 17,000 142.000
Total Europe.
A oantaris 98 pounds.
—
Manchester Market. Our report received by cable to-night
from Manchester states that the market is firm for both
yarns and shirtings. Merchants are buying very sparingly.
We give the prices for to-day below, and leave chose for
previous weeks of this and last year for comparison:
1890.
1891.
Oolt'n
32» Cop.
8>4 lbs.
Twist.
Shi)-tings.
Mid.
Uplds
8 14
32s Cop.
Oott'n
lbs.
Mid.
Shirtings.
Twist.
Tlpld*
_...
d.
Oct 23 7^8
d.
9.
d.
®7'8 5 9
8.
®7
®7
m
d.
d.
4%
d.
d.
s.
d.
8.
87,«®8n,. 6 412*7
87,«'ai8iii. 6 415 3)7
d.
d.
6il,g
^
3
3
3
3
I'd i^
3" 738 '»778 5 9
ft"
538
Nov. 6 7% a73j 5 8 •a'7 Oifl 4-i« 8'ifl!»8li,. 6 412S17
and eighty-three hundredths on three days.
" 13 7
•ai75s 5 7ia-»7
4'ia 8^18981116 6 41397
s^*
®7B8 5 71a »7
" 20 7
4',« 87,838111, 6 4i2«7
Selma, Alabama.— Ruin has fallen on three days of the
5 '"
4I3
8% ftS^a !6 4i«a7 3
" 27 71s ^73i 15 7^'t7
53i«_
week, to the extent of two inches. Average thermometer 54
highest 70 and lowest 37.
Jute Butts. Bagging, &c.— A moderate amount of business
Auburn, Alabama.— The week's rainfall has been one inch is being transacted, but prices of jute bagging have undergone
and twenty-three hundredths. The thei-mometer has averaged no change the past week. The close to-night is at 5i^c. for
40-4, the highest being 66 and the lowest 19.
\% lbs., 60. for 21bs. and 6^c. for standard grades. ManuMadison, Florida. Telegram not received.
facturers are holding aloof from the market, being unwilling
Columbus, Georgia.— We have had rain on two days of the to purchase to any considerable extent at current prices. As
week, the precipitation reacliing two inches and thirty-eight a rule jute butts are moving in only limited quantities.
hundredths. The thermometer has rsmged from 85 to
Holders, however, are apparently not disposed to shade ruling
70
averaging 51.
prices, which are IJ^c. for paper grades and 2^0. for bagging
Savannah, Georgia.—We have had rain on four days of the quality.
week, the precipitation being seventy-two hundredths of
an
SHIPPINQ News, The exports of cotton from the United
inch. Average thermometer 56, highest 74, lowest
39.
states the oast weok.tis per latest mail returns, have reached
AuQu.^ta, Georgia.— The week's rainfall has been
eighty-one 830,508 bales.
„ ,„
hundredths of an inch on four days. The thermometer
Totalbalet.
has
averaged o8, the highest being 73 and the lowest 83.
York,
Hew York—To Liverpool, per steamere City of New
Charleston, South Carolina.— We have had rain
Holland, 1.336 ...Nomadic. 3,250. ...St. Bonaus,
160
on three
8.12»
Servia, 290 .. Wisconsin, 76
3,017
days of the week, the precipitation reaching sixty-one
hunTo Hull, per eteamer Bufialo, 2,466
^'''o?
dredths of an inch. The thermometer has averaged
58 ran.^To London, per steamer Canada, 894
J*"*
^
ing from 42 to 73.
To Lfith, per steamer Critic. 1,275
'.1%
63^
Havre, per steamer Li Bourgosne, 639
Stateburg, South Carolina.— R%ia has fallen on
To
one day of
o'S
To Bremen, per stdamer Labn, 6 8
the week, to the extent of twenty-three
701
hundredths of an
To Hamburg, per steamers Russia, 6.'>1 ...Bervla, 50
faUing. The thermometer has ranged
^'^^^
^
steamer
CliicaKO,
1.478
°"^
per
Antwerp,
To
.
from
^»
o«
^
1,SOO
28 to 73, averaging 51-8.
To Barcelona, per steamer Miguel M. Pinillos, 1,500
574
To Naples, per steamer Elyela, 574
Vl'ilson, North Carolina.— There has
been rain on three days
1,29a
To Trieste, per steamer Elysla, 1,296
••
—
'
—
,
'
'
,
:
...
November
THE CHRONICLE
38, 1891.J
_^
Haw Orlbanh—TO
Tot€U baltM.
Llv«ri)ool. per ateKinern CarnllnH, H.SOO
BuuUU'leiino, 7,000... Suturuiiia, &,3UU...'roiiU)Dltt, a.UOO
Vostu,«,400
28,400
To IIiivTi', pir ateamers Cape Oolonna, ft,7Sl
Dora, 6,000
I'll uiiii. S,433
17, 1H4
To Koufii, ror DtHiiiuxr Stuart Prtnoe, ftSO
650
To Bri'iudii. \H\r 8teaiiiir« Aloi'Htor. 3,262
Beds, 0,58>O....
KKKlealoii Alibvy, 4,."«30
Kii<l«uvour, (,800
17,168
Tu Hiiiiil>urK. per steaiuora Australlii, 1,800
QordoD
CiwtUi, 1.(140
To Biiroi'loiin, per bnrk Tereaa Flgueraa, 460
OALTKBTtiN— To Liverpool, per atoainera AT*nmoi«, 6,S09
3
.'.'.'.'.
4.^0
'480
...
Capeiior, 0.472. .CantUaon, 0,051
Duniuore Head, 5,018 34,645
Breiucii, per «teiiiiifr Abboymoor, fl,2SB
5 ' 256
Llvurpodl, per aloamera Deramore, 7,789
Tecllii lleail, 3,1144
11 703
To Bii'iueu, iwr Hteanier Gelserloh, 4,250
4,'250
To Reviil, perateamer Pronton, 6,00O
6,(i00
To Ulwiit. per alraiiiirUralno, 5,075
.,
6,07,'>
.
To
Bavakmah— To
.
To Uotteijliiirx, pi r steamer AblngtOD, 3,800
Brditswick— To Liverpool, per ateauiera Aluiandlne, 4,499
J.
3800
'
M. Lockwood, 4,103
Chablkstdn— To
8,602
Liverpool, per ateamera £toua, 6,945
Soiitliwood, 2,044
To Salerno, per bark Qtilrlnale, 1,365
WiLMiNtiToN— To Liverpool, ixr steamer Qarlando, 6,209
To Keviil, |>er ateaiuer Harold, 5,121
To Uauiro, per stciiiuer Duuedln, 3,H00
HOBFOLK— To LIveriiool, per ateamera Abergeldie, 4,479
'.
.'
9,869
I'sos
6,2(19
5,121
.'.
Cliy of AKra, 404. ...Ella, 1,096. ...Euergia, 6,330
To Broiiieii, per ateanier Oraiitully, 3.0;i2
To Bario oiia. per steamer Narauja, 2.00.^
Wbst Poi.NT— To Liverpool, per steamer City of Agra. B,990...
Newport News— To Liverpool, per Btoiimer Madrid, 3.92-i
Boston— To Liverpool, iier steamers Kausas, 2,757
Lancastrian, ,1,10:1.. Norsiman, 1,\:84 .. SoytLla, 909
To ilanihiirg, i>er eteuiiier Cremon, 200
To Yarmouth, per steamer Bouton, 30
Baltimore— To Liverpool, per steamers Baltimore, 2,31f
Polyuoslnn, 1,740
To Loudon, per steamer Minnesota, 1,350
To Bremen, per ateamera Uolienzollein, 1,899
Numberg,
1,529.
,
To Kiitterdam, per steamers Beethoven, 530
Mendelssobu, 064
Fbiladeli-hia— To Liverpool, per steamer Lord Cllre (additional),
809
100
S.'soO
12.909
3,032
2!695
e.WO
jrot.0.
Sales of the week
bales.
Of whii'h «i|iiirter« t<Mik
or wlileh opeculatora took..
300
900
200
80
4.061
1^350
ralr
Market,
1:48 r. M.
{
bulneu
I
dollMI.
Sales
Spec.
Aexp.
Oood
demand.
47,.
44
8,000
l.OCO
13.000
1,000
Mld.Upl'd«.
Hardea'c
Qoleter.
4I|
8,000
800
Market,
1:45 p. M.
4
Qolet at Steady at
l-H4«ll-«4 1-64 dedeollne.
Very
stead J.
M.
P.
4>t
4I«
13,000
1,000
10,000
1,000
BMadr
at
SMa4.«t
-«4deo.
adraooe.
Firm.
PIrm,
8bi., Not. 'il.
1,194
Opm H<«a
4.
d.
Nevember.. 424 4 24
424
424
427
430
Mch.-Aprll. 433 433
Mot.- Dec... 4 24
Dec-Jan.... 424
Jaa.-F«b.... 427
Feb.-Mcta... 4 30
April-May.. 4 38
4 37
Z,ou>.
dot.
d.
d.
424
434 424
424 424
427 4 27
4 24
4 30
4 80
433 4 33
4 36
4 87
Parklleld, 7,527.
Corluthla, 3,607.
AprU-May.. 4 48 4 44 4 43 444
May-Jane
4 46 4 47
June.Jaly„. 4 49 4 60
Jaly-Aog... 4 52 4 62
Aug.-Sept .
.
Annlnir, 5,645:
7,097. ...Nov.
Nov. 2.°>— Steamer Wasi water, 7,236.
To Havre— Nov. 21— Steamer (iairlooli, 5.550.
To Bremen— Nov. 21 - Steamer Tliorrilsa, 6,483
Nov. 25-Steamer
Harbinger, 4,671.
To Rev!il-Nov. 21- Steamer Ocean Prince, 4,100.
To Odessa-Nov. 21— Steamer Glendevou, 4,740.
To Barcelona- Nov. 20 Bark Linda, 1,0-3.
Wilmington— lo Bremen— Nov. 25-8te»mer Austerlitz. 4,359.
West Point— To Liverpi ol-Nov. 25-Steamcr Keil Sea, 8,459.
Boston— To Liverpool -Nov. 17— Steamer Bostouian, 2,210. ..Nov.30—
Steamer Venetian, 2,493
To Yarmouth-Nov. 24 -Steamer Boston, 118.
Baltimore— To Liverpool— Nov. 17— Steamer Sedgsmora, 1,899.
To London— Nov. 20— Steamer Milne. 196.
To Rotterdam— Nov. 20— Steamer Patapsco, 86S.
fHlLADELPiiiA— To Liverpmd— Nov. 17— Steamer British Frlnoess, 613
No V. 24 - Steamer Lord GoiiKh, 1,133.
To Antwerp-Nov. 17— Steamer Belgenlaud, 200.
H—
Cotton freights the past week have been as follows:
Liverpool, steam d.,
Do
3^3
"18
FH.
d.
Clot.
Opm
High
d.
d.
d.
4 26
427
487
4(7
480
433
4sa
438
424 427
4 24 427
4 26 427
429 480
4 22 43a
48S 434
488 439
424 427
424 427
424 427
4 29 480
482 438
4 34
4 88
4 84
484
489
4 41
4 44
4 47
4 41
4 42
4 87
4 40
4 42
4 43
444 4 43
448 4 47 448
Do
>4
d.
Bremen, steam, .d.
Do
H
^
>4
>4
55"
65*
H
d.
Hamburg,atean>.d.
Do
d.
Amst'd'm, steam.e.
Indirect
steam
Do
d.
85*
d. 'saaii.is 93,321,4
d.
....
H
Trieste, ateain...d.
"19
Antwerp, steam. d.
Per 100 lbs.
11.
'
ao
•5*
16(4-9^
Barcelona,ateam d.
Qenoa, steam. ..d.
Liverpool.
55*
t
•
9ss»aia4»s,»3l64
•>
>8
"a
>i
H
H
H
5ut
»t«f
II 't
J'm
11«4
Steamer December 9th or 19tb.
14
"icf
ti,K4
— By cable from Liverpool we have the following
fltatetneat of the
week's
4 46
4 49
4 62
4 47
4 48
4 62
4 2S
424
428
4 81
4.
4 30
482
482
0pm
d.
d.
4 86
4 3T
4 40
4 44
4 46
4 48
4 49
4 28 428
4 28 4 28
4 28 428
4 31 4 31
4 34 434
4 87 4 37
4 40 4 40
4 43 4 43
4 46 444
4 48 4 40
4.
42T
427
427
410
488
484
438
4 2i
428
4 81
434
4 87
4a
445
4a
4 40
Not.
Fri.,
Ota*.
d.
d.
486
424
44S 4 46 4U
444 448 4 44
Thure., Nev. 36.
Open Btth Vav).
4 42
Um. Oo*
'i7.
H4«k low.
I
d.
d.
d.
424 427 426
424 427 4 24
4 24
428
4 82
436
488
4 41
4 44
4 47
OI(w.
4 26
424
4*4
42«
4 28
4 28
433 4 32
136 4 36
489 4 88
442 4 41
446 4 44
448 4 47
482
436
488
4 27
4 30
4 41
4U
4 47
Fbidat, November 27, 1891.
The market for wheat flour was quite dull early in the week,
and prices had a downward tendency. In particular the
export demand was reduced, and low grades felt the withdrawal of this inquiry. The medium and high grades were
not in large stock, and although the local trade operated sparingly, did not yield materially in values.
Rye flour, on the
contrary, siiowed a slight upwarl tendency, and corn meal,
being uite scarce, was very firmly held. Buckwheat flour
aUo felt the effect of thH export demand and high price for the
Today
the market
is
steadier in tone, but trade
is
quiet.
The wheat market has felt the effect of dull foreign advices
and the better weather in the Northwest. The movement of
excessive supplies and the indications that other large supplies merely wait the appearance of buyers have had a depre8»in,< eff ct upon European markets, quite neutralizing the
bia...<t.
Havre, steam... d.
fteval,
Wednes.' Thurt.
Barely
BREADSTUFF S.
grain.
Tuet.
Barely
•teadr
Taee.. KoT. 34.
.
Jfon.
4«S-«4
deellne.
•teadr.
Open Btth Lota.
4.
—
Satur.
aoletal
aer.
Men., MeT. 3S<
.
frei-co.
500
rirm at
lartlall;
allna.
4 8» 4 40 4 39 4 40
Tregurno, 6,036; Waabington City, 8,564
Nov. 27— May-Jane
Steamer Zeta, 5,120.
June-July^. 4 42 4 43 4 42 4 43
To Havre-Nov. 26 -Steamer Oswald, 4,295,
July-Auff... 4 4S 4 4« 4 46 448
To Bremen- Nov. 21-8teaiuer Maichliinesa, 4,753.
Aug.-Sept.
To Vera Crui— Nov. 20-Steumer Harlan, 1,150.
SfBW Orleans— To Liverpool— Nov. 20-aieamer Eoss-slilre. 4.700.
Nov. 21-Steampr Yucatan, 6,000
Nov. 24-8teaiiiere Australian, 3,600; Yoruba, 4,450
Nov. 27— Steamer Chloklade, 5,993.
To Havre— Nov. 2j Steamer Alderley, 7.750.
Wed., Not. tiS.
To Bremen-Nov. 21— Steamer Inoliarran, 6,317
Nov. 24—
Steamer Canton, 4,377.
0|Mn{H4gk Lov), CbM.
To Hamburg-Nov. 25—Steamer Grecian Prince,
To Odessa-Nov. 21-8teamer Arabian Prluce, 5,730.
d.
d.
d.
d.
To Oeuoa-Nov. 21— Steamer Italia, 1,791
Nov. 24— Steamer
November.. 4 32 4 32 4 81 4 32
LIsnacrieve, 7,000.
Nov.- Dec... 4 32 4 82 4 31 432
Mobile— To Liverpool— Nov. 23—Steamer Heraclldes. 6,791.
SAVANNAH- To Liverpool— Nov. 23 -Steamer Btax, 5,517 .. Nov. 25— Dec-Jan.... 4 32 4 32 4 31 482
Steamer Iran, 11,118
Nov. 27— Steamer Oladestry, 6,611.
Jan.-Feb.... 4 84 4 36 434 486
To Havre-Nov. 21-8teamer Coronllla, 3,751.
Feb.-Mch... 4 37 4 88 4 37 438
To Bremen— Nov. 20-Steamer Abeona, 5,550
Nov. 21—Steamer Mch.-April. 4 40 4 41 140 4 40
21—Steamer
44
8,000
The opening, highest, lowest and oloxing prices of futures at
Liverpool for each day are given below. Prices are on th •
basisof Uplanda, Low .Vliddlia^f clause, unleaa otherwise stated
3,51o;
Ingleby, 4.891. ...Nov.
fteainer Velleda, 6,977
Steady.
Friday.
Is bayera'
(avor.
Futuret.
3 428
To Barcelona— Nov. 21— Steamer Plcqua, 4,175.. Nov. 23-Steamer
jr*t. «r.
61.000
8.000
3,100
88,000
0,000
ea.ooo
833.0O0
648,000
Saturday Xmuiay. Tutiday. Ifedn«. Thttnty
Bpot.
Market,
8,053
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates:
Galveston— To Llverpeol-Nov. 20-Steamer Aloestia, 4,152
Nov
23- Steamer Wallachla, 3,9.iO
Nov. 24— Steamers Bellarlna
Charleston— ro Liverpool— Nov. 20— Steamera Mary
jro», JO.
3,925
msoi
~
43,000
3,700
88,000
2,800
3,000
SalflA American
88,000
88,000
49,000
Aoinal export
7,000
6,000
10,000
Forwarded
64,000
67,000
77,000
Total stock— B«tlm»ted
704.000 777,000
097,000
Of which Amerlflan-Estjm'd 888,000 608,000
803.000
Total liui>ort of tli« week...
180,000 146,000 137.(K>0 283,000
Of wlileh Aiiierloan
105,000 137,000
99.000 328,000
Amount afloat
390.000 445,0(J0 466.000 308,000
Of which Amerioan
8SO,000| 438,000 450,000 888,000
Tfte touu of tbe Liverpool market for apotH and fuiurtM
tMu h
lay of the week ending Nov. 27, and the daily cloaing
prlc* i
of spot cotton, have been an follows:
100
Tot«i
Hot. 19,
48,000
s.^oo
sales, stocks, &c., at that port:
influence of the Russian interdict upon the exportation of
breadHtuffs from that country. The export buying on Tuesday
and Wednesday was extremely small, and "spot" values were
quite as much depressed as "futures." To-day there was some
recovery on the renewal of wintry weather in the Northwest
and a beiter export demand, shippers taking 2UO,iiOo bush., including No. 1 Northern spring at |1 0»?4 and No. 2 red winter for Deo. 15th at $1 OJJ^t^l 07^^ f. o. b. from store.
DAU.T OLOSIMO PRIObS OP NO. 3 KBD WINTKK WHkAT.
TAu)-*. TH.
WtA.
Pmm.
».«.
Jfon.
December delivery
January delivery
iVbruary delivery
Marehdellvery
A pi II
ci.
livery
Mavdellv.ry
lee's
108>4
loO^g
\W>9
10.^»g
Ira's
0.111%
0. 111^
111=^2
10714
109
110<4
110'«
110»»
0.
o.
e,
IIOM
105%
105^
lo7
108>«
HO"*
ja
o
g
107«t
109
\\\iH
111
110»»
ff
llS^j
1>0%
110%
^
Ill»»
Ill's
109%
HI"* KW'e lOim
llO'g
"
of
effect
cora
felt early in the week the
o.
0.
June delivery
Indian corn
ner" at the West, which catued » sharp advance on prims
—
—
8
THE CHRONICLE.
810
The eaunsettled values
grades of mixed corn and greatly
Tuesday
On
20c. a bushel.
wide
as
as
became
«r« ranee
while "reat 78^c.®79c
choice oTd No. 3 mixed sold
6Sc raTOo. on the
No 2 at
"
iected new went at 59c., steamer
On Wednesday there was a
Jnot and 5734c. for Dcember.
Amonp the transactions was a sale
pretty Keneral decline.
" hor.e-tooth " for January anl February
of Southern white
has a surplus for
Bhioment at 68c., showing that the S mth
were dearer,
time in several y.lrs. To-day futures
mixed, as well as white
but spots unsettled. Steamer No. 2
[Vox, LIU,
—
lX)MU8TI0 UOTTON GOODS. TUe exDorls of cotton good»
this port for the weok ending November 24 were 6,414
packages, valued at $279,353, their destination being to the
ooints specified in the tattle below:
from
1891.
»BW York
to Not.
Week. Since Jan.
203
14
?Kst
and yellow,
November
sold at 70c. afloat.
DAILT CLO8INO PRICES OF NO. 2 MIXED COKN.
Thurt.
"'ed,
Tuei.
Hon.
Sal.
74
7.5
70
70
o.
delivery
DeoemDerrtelivwry
o.
o.
January delivery
February delivery
o.
o.
«•
o.
Match delivery
Maj rtellvwy
58%
64
59^
55J
84%
54H
|3
54^8
52%
52-*i
em
5Hls
59%
55
55
54
52''8
5259
52J4-
»
o
55>9
54 14
52%
m
December delivery
Jaiuaiy delivery
Maydellvei-y
0.
c.
0.
Tues.
ifon.
Sat.
40>4
40
39i«
39»a
40^
39%
Sg'e
40
40
Wed.
Fn.
Thtirt.
'„
31>4
g.
^»
d»'4
|9J
39^
39ifl
.
Rye has shown the renewal of export buying, on which
West-rn has
prices have made some improvement. No. 2
half of January.
sold at |1 07 f.o.b. and $1 10 for the first
The
To-day the market was quiet. Barley has been quiet.
export demand for feeding stock haa not been felt. Buckwheat haj continued to sell for shipment, bringing 64@ 65c.
on the spot and for early arrival, and to day 660. was asked
for prime.
LI A.
FLOOR.
$4 90®$i 25
10a$3 6O Patent, winter
40a 3 85 City 8hippin:jextra8. 5 25 5 30
65® 4 00 Rye flour, superfine.. 5 153 5 60
3733 4 5J
Fine
410® 450
4 50® 4 75 Corn meal
3 30 ® 3 50
We8tern,&o
__.
.
4 703 5 15
... 9 3 70
Brandywlne..
5 00a 5 50
100 Iba., $2 10 » $2 20.
n^bbl. f3
Fine
Bnperflne
Extra, No. 2
Extra,No.l
Clears
BtralslitB
•'
3
3
.
Patent, spring
Buckwheat flour per
GRAIN
Wheat—
98
Com, per
0.
0.
Spring, perbush...
White
Oat«t— Mixed. -¥ b"-
White
97
39
West'n mixed
Steamer No 2
®1 07
West'u yellow....
Western white
39'«
Eye
4II4
44
40 ^3
41
66
58
68
62
60
-
Western, per bush. 1 04
and Jersey.. 1 03
Barley— No.2We8t'n. 71
65
State,
2r'd
Bnckwheat
57
West. feed'K
For other table* nanallr riven here see paie 783.
No. 2 mixed
No. 2 white
39>s®
40 ®
63 '3
213
5ZS
32
2,426
5,742
29,860
2,919
Other 00 imtrlea .............
Total
China, via Vanoonver
"3
836
16.3'
71
1,070
101
32,891
2,5u9
6,414
203,945
23,301
2,459
127,0!>3
6.414
227,246
2,459
188,258
61,178
Total
From New Eneland mUl points direct.
The value of the Neiv York exports since January 1 hay*-
*
baen $10 677,6 J9 in 1891 against $7,347,498 in 1890,
In staple cottons the demand which has come forward
from day to day has disclosed few points of special interest.
In brown sheetings, 4-yard makes continue well sold up, as
do other light makes suitable for converting purposes, but
standard and 8-yard sheetings are in quiet request, as are
Colored cottons in popular goods are
bleached shirtings.
steady and generally well in hand, while in cotton fiannels
orders,
rather than c .rrent demand, keep
deliveries on back
stocks down. Business in printed and woven patterned cotton fabrics is almost entirely confined to spring styles at first
hands; but the demand is not active, and in the former it
waits upon the opening of lines of regular prints. In the
jobbing trade buyers have mostly confined the uselves to bargain lots in dark fabrics. The print cloth market rules quit©
steady at 2^c. for 64x64s and at 2 9-16c. for 56x60s, with a
amount
fair
of business doing.
1891.
Nov. 21.
Stock of Prinl Olr>t^^—
Held by Providence manufacturers. 2 V.OOO
338,000
Pall Klver manufacturers
None.
Outside speoulatora (est)...
1
1890.
Nov. 22.
1889.
Nov. 23,
284,000
b00,ooo
3,000
243.000
8,000
None.
887.000
251,000
bush.
»1 10
Bed winter No. 2.. 105 ®106
97 ®1 08
Bed winter
7.98
16
288
167
42
Ifiioa
7,192
2,726
40,154
3,471
9.4B9
6,696
13
321
140
4.
of no. 2 mixed oats.
0LO8INO PRICES
302
490
[ndla
Week. Since Jan. 1.
1.
4,280
1,459
112,227
9,131
12,388
4,740
12,778
8,634
4,023
--..-.. ---.
bit's
52^4
Junedelivery
j ..
corn, and followed that
Oats felt the efifect of the rise
been
has
TherWednesday.
staple in the partial decline on
but the specu ation has
a very eood trade in the regular way,
To-day the market was dull and values were
lacked spirit.
rooping.
.
77
60 1«
a,
54
(JMna
irftbla
Fri.
1890.
24.
State
I
I
I
» 78
« 70
® 75
® 73
®107
-aios
a 72
® 67
« 60
THE DRY GOODS TRADE.
NEW YORK,
Friday P. M., November 27, 1891.
in upon by the observance of Thankegiving Day holiday, and the aggregate
has reached but a moderate total. Under prevailing con
ditioDS an unbroken week would not have made much difference as the demand still comes forward on conservative lines.
At the same time it can be noted that so far as inquiries are
an indication, some of the leading buyers are putting out
feelers after legitimate spring business in domestics. Tne
reports to band from manufacturing districts in New England
during the past two days show that late rains have afforded
the mills, lately suffering from lack of water power, considerable relief, but evidence of the effects of recent short
reduction are noticeable in the stocks of certain popular
E rande, these being reported in better shape than for
some
time p»st. This fact has had additional weight given to it by
the rise in the price of cotton, so that fome of the shrewdest
buyers are inclined to purchase goods on their merits wherever sellers would give them the slightest advantage. That
only an indifferent amount of business has resulted is fair
proof therefore of steadiness on the part of holders quite in
keeping with the impression left by a general rounii of the
market.
In the jobbing trade the cleaning-up process is
assuniing definite shape, and the discrimmating buyer can
find barguiiis in all jobbing hous s and in nearly all lines of
goods. Reports of tiade fiom outlying districts are fair this
week, thowing a steady distribution in progress without
special activity.
Collections continue in good shape and
contrast favorably with the experience of a year ago.
The week's business has been broken
BoMKSTic WooLBBS— The market still reflects strongly betwetn-season's conditions. The re-order demand for spring
sty Us comes forward slowly and the duplicating request for
heavy goods shows signs of exhaustion which will in a'l probability prove permanent so far as this season's goods are concerned. For heavy weights for the fall of l89a business has
not opened, although, as previously noted, certain agents and
manufacturerd are exerting themselves to secure orders for
these now in default of other business. Orders for worsti d
suitings are confined to finest makes, but in all-wool styles
some of the lowest grades have been in best demand. Against
these latter satinets and cotton-warp cassimeres have fared
badly. Overcoatings and cloakings are quiet and uchanged.
No changes in prices have been noted in any direction, although in men'B-wear woolens irregularity
quarters.
still
exists in
some
549.000
Total stock (Places)
—
Foreign Dry Goods. The demand during the week ha*
been divided between holiday specialties and future deliveries
of staple lines, spot business in thf latter running exceedingig
In dress goods high novelties in design, color or fabric
light.
are in best request, and brocides, moires anii bengalines in
piece silks. Stocks are generally reported in fair shape and
prices steady.
Importations of Drv Cootla.
The importations of dry goods at this port for the wet k
ending Nov. 38, 1891, and since Jan. 1, and the same facts
for the corresponding periods of last year are as follows:
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