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BEPRESENTING- t h e i n d u s t r i a l a n d c o m m e r c i a l i n t e r e s t s o f t h e u n i t e d s t a t e s .
[Entered according to A ct o f Congress, in the year 1894, by the W il l ia m B. D a n a C o m p a n y , in the office o f the Librarian o f Congress.]
“YOL. 59.
SATURDAY, OCTOBER 27,1894.
3 pue
and the loss from 1891 is slightly more than 20 per cent. Out
side of New York the excess over 1893 is 8 per cent, the loss
from 1892 reaches 9 per cent, and the decrease from 1891 is 6*6
per cent.
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NEW YO RK .
CLEARING HOUSE RETURNS .
The following table, made up by telegraph, etc., Indicates
hat the total bank clearings of all the clearing houses of the
Jnited States for the week ending to-day, October 27, have
314,690 the corresponding week of last year.
Week Ending October 27.
Cl e a r in g s .
Betwns by Telegrayh.
1894.
1893.
Per Cent.
N ew Orleans............................
$407,741,710
60,000,617
55,690,705
10,194,150
70,456,062
17,735,155
8,249,410
$443,024,360
65,679,461
48,226,970
10,102,967
74,719,966
14,890,012
8,853,793
- 8-0
+ 0-5
-1-15*5
+ 0-9
- 5-7
+19-1
— 6-8
Seven cities, 5 d a y s .........
O ther cities, 5 d ays.................
$636,067,809
133,000,761
$665,497,529
119,963,247
- j£
+10-9
T otal all cities, 5 d a y s ....
A ll cities, 1 d a y ..................... -
$769,068,570
155,911,268
$785,460,776
166,853,914
- 2-1
— 6-6
Total all cities for w eek ..
$924,979,838
$952,314,690
-
2-9
The full details of clearings for the week covered by the
above statement will be given next Saturday. W e cannot, of
course, furnish them to-day, bank clearings being made up by
the various clearing houses at noon on Saturday, and hence in
the above the last twenty-four hours of the week have to be
in all cases estimated, as we go to press Friday night.
W e give below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur
day noon, October 20, and also present the totals for the cor
responding week in 1893, 1892 and 1891. In comparison with
the preceding week there is an increase in the aggregate
exchanges of about twenty-five and a-quarter millions of
dollars, the gain at New York being eight millions
Contrasted with the week of 1893 fourteen of the cities show
losses, but in the total for the whole country the excess
reaches 1*7 per cent. Compared with the week of 1892 the
current returns show a decline of a little less than 20 per cent,
NO. 1581.
New York................
Philadelphia..........
Pittsburg................
Baltimore................
Buffalo............ .......
W ashington...........
Rochester...............
Syracuse.................
W ilm ington............
Bingham ton...........
Scranton*................
Total M iddle......
B oston.....................
Providence.............
H artford.................
New H aven............
Springfield............ .
W orcester...............
Portland.................
Fall R iver..............
L o w e ll....................
New B edford.........
Total New Eng...
Chicago...................
Cincinnati..............
Milwaukee.............
D etroit....................
Cleveland...............
Columbus...............
Peoria.....................
Indianapolis.........
Grand R ap id s..—
Lexington..............
Saginaw..................
Bay C ity............
A kron......................
Springfield, Ohio...
Canton....................
Tot. Mid. W est’n,
San Francisco........
Portland.................
Salt Lake City.......
Seattle....................
Tacom a......... . . .....
Los Angeles...........
H elena....................
Spokane..................
Sioux Falls............
Fargo.......................
Total P acific......
Kansas City...........
Minneapolis........ .
Omaha................... .
St. P a u l...;........... .
D e n v e r..................
D uluth...................
St. Joseph..............
Sioux City.............
Des M oines...........
L incoln..................
W ichita.................
Topeka...................
Frem ont................
Tot. other West.
St. L ouis............
New Orleans.........
Louisville...............
Galveston...............
H ouston................
Richm ond..............
Savannah............i
Memphis...............
N a sh v ille ...........
Atlanta..................
N orfolk..................
Dallas.....................
W aco................... ...
Fort W orth...........
Birmingham.........
Jacksonville.........
Chattanooga.........
Total Southern.
Total all............
Outside N. York
Montreal...............
T oron to.................
H alifax..................
Hamilton...............
Winnipeg*.............
Total Canada..
* Not included in totals.
716
THE CHRONICLE.
tvol, lix
collateral, and some lenders will make contractsTi
even lower rates than these last quoted provided
About the only incident of the week which has
choice security is given. Tne market for commercial
elicited much discussion in financial circles has been
paper is quite bare of acceptable names, while the
the proposal to make a combined movement among the
demand continues urgent for such. Rates are 2|@2|
banks reducing the interest paid on interior bank
per cent for sixty to ninety day endorsed bills receiv
balances to the uniform rate of 1 per cent. It may
able ; 3 per cent for four months commission house
seem strange to some of our readers not familiar with
names and prime four months single names; 3@4 per
bank business that deposits so held are being carried
cent for prime six months and 4£@7 per cent for good
for which a considerably larger interest than 1 per
four to six months single names, according to aualitv
cent is being paid, the net loss coming out of surplus. and date of maturity.
|
7
This situation has grown worse recently, and week by
It was reported yesterday that the Japanese had
week, because the money market has of late become so
crossed the Yalu River at Sukochin and captured
thoroughly demoralized; rates, as our reports have
the Chinese fortress there, and earlier in the week
shown, have ruled phenomenally low almost all the
that Port Arthur had been evacuated by the Chinese.
year, but now it is impossible to fully employ balances.
The Bank of England minimum rate of discount
We have heard within a few days that the low Stock
remains unchanged at 2 per cent. The cable reports
Exchange minimum of of 1 per cent has extended to discounts of sixty to ninety day bank bills in London
the banks, round amounts having been put out at the
9-16 of 1 per cent. The open market rate at Paris is
counter at that figure.
Under these circumstances 2 per cent, at Berlin it is I f per cent and at Frank
nothing but the active competition always prevailing fort I f per cent. According to our special London
for business among our city institutions has prevented cable the Bank of England gained £102,266 bullion
a spontaneous drop all around in the rate for deposits during the week and held at the close of the week
of interior banks. There .are about eighteen of our
£36,751,867. Our correspondent further advises us
banks which carry the bulk of this business, and there that the gain was due to the receipt of £306,000 from
are at least two, and we think three, of the large insti the interior of Great Britain, to imports of £59,000
tutions which absolutely refuse to pay anything on (£52,000 being from Australia and £ 7,000 from China),
deposits, directly or indirectly; unprofitable accounts and to exports of £263,000, of which £100,000 was to
with those banks have to be immediately withdrawn, Russia, £100,000 to Germany, £40,000 to Brazil and
but institutions carrying bank balances endure the £23,000 bars sold in the open market.
burden, assuming that in the long run the business
For foreign exchange the market has been generally
nets a profit.
firm this week, with fluctuations of less than £ of a
This movement has not proved a success so far as the cent per pound in sterling and only very slight changes
proposed combined action is concerned. Individual in Continental. Bankers regard the market as narrow
banks in a number of cases have notified their corre in the sense that it is promptly influenced by de
spondents of a reduction. A combined arrangement mand and supply, but it is considered broad so
was found not to be feasible even if the consent of all far as the volume of business is concerned, and
the banks doing this kind of business could have been this has been quite large during the week. The
obtained. The statutes and decisions make such joint offerings of
commercial bills have been good,
action unlawful. It looks, too, as if the change, at but chiefly on contract deliveries against which ex
present at least, would not be adopted by every bank change was sold when the engagement was made. The
interested. If money conditions remain long as they offerings of spot cotton bills and of drafts against grain
now are lower rates would become an imperative shipments have been moderately large, but these havenecessity; but a feeling prevails that after the elections been promptly absorbed by the current demand for
business will be more active and money in better re remittance. Coffee importers and also some of the dryquest. As matters stand to-day there is very little if goods importing houses were buyers early in the
any demand for time loans even at concessions from week, but later the inquiry from these sources
the low rates ruling; there is, too, very little being somewhat abated and the market became dull.
done in commercial paper, but that is because names On Monday the market opened strong, after closing
are scrutinized so carefully, and there is consequently weak on Friday and easy on Saturday, and the large'
a marked absence of acceptable paper on the market. supply of cotton bills received in the morning mails
It is however in connection with the foregoing a was promptly absorbed. On the following day the de
remarkable fact that the aggregate loans of our Hew mand from uptown remitters was a feature, and the
York City Clearing House banks were never so large as market was firm at the advance, and in the afternoon
now. Last Saturday they were reported at $500,772,- Brown Bros. & Co. advanced their posted rates to 4*88
500. Most certainly some people must have borrowed for sixty day and 4*89 for sight. On Wednesday the
money and some business must be in progress here tone was strong, with no change in quotations, and
abouts.
business was comparatively dull. A fall in sterling at
Money on call, representing bankers' balances, has Paris on London indicated the possibility of exports
this week loaned at | of 1 and at 1 per cent at the of gold on Saturday, but later in the day exchange
Exchange, with the bulk of the business at 1 per cent. at Berlin on London advanced, and it was then said
Renewals have been uniformly made at 1 per cent, and that gold shipments were improbable. On Thursday
banks and trust companies quote 1 per cent, though the principal bankers were quite positive in their state
some of the banks have accepted £ of 1 per cent. The ment that no gold would be sent this week, and thedemand for time contracts is very light and quite insig fact that there had been no offerings of cable transfers
nificant for short dates. Quotations are \£ per cent, in round amounts seemed to confirm this assertion.
nominal, for thirty days, 2 per cent for sixty days to Yesterday there was no change in the posted rates and
four months, 2£ per cent for five to six months and 3 per the market closed dull and steady. It is said that the
cent for seven to eight months on good Stock Exchange movement of gold from London to Germany, which has
the
f in a n c ia l
s it u a t io n
.
OCTOBER
27, 1894.J
THE CHRONICLE.
recently been large, has now nearly ended, and that the
requirements of Austria for gold for currency purposes
have been satisfied for the present. The following table
shows the daily changes in rates of exchange by lead _
ing drawers.
Mon..
Tues.,
Fri.,
Oct. 19. Oct. 22. Oct. 23.
87«
8 7«-8
87«
88«-9
88«
88«
87«
87«
(60 days.. 8 7 «
88«
88«
Magoun &Co. i[ Sight...... 8 8 «
87«
Bank British
(i60 days.. 8 7 « 88 78 ««
88«
No. America.. 1; Sight...... 8 8 «
87«
Bank o f
( 60 days.. 8 7 « 8 7 «
88«
88«
Montreal....... 1;Sight..... 8 8 «
87«
87«
Canadian Bank 1(60 days.. 8 7 «
88«
88«
of Commerce, i[ Sight...... 8 8 «
87«
Heidelhach.Iek- (60 days.. 8 7 «
87«
88«
88«
elheimer & Co [S ig h t..... 8 8 «
87«
87«
(60 days.. 8 7 «
Lazard Freres... •
88«
88^
[Sight...... 8 8 «
87«
87«
Merchants’ Bk. (60 days.. 88
88«
88«
-of Canada.... \Sight...... 89
(60 days..
Brown B ro s ....; 1Sight......
W ed.,
Thors.,
Oct. 24. Oct. 25.
88
88
89
£9
87«
87«
88«
88«
87«
87«
88«
88«
87«
87«
88«
88«
87«
87«
88«
88«
87«
87«
88«
88«
87«
87«
88«
88«
87«
87«
88«
88«
Fri.,
Oct. 26.
88
89
87«
88«
87«
88«
87«
88«
87«
88«
87«
88«
87«
88«
87«
88«
For actual business the quotations Friday were 4 86|
<^4 87 for long, 4 87-J@4 87f for short and 4 87f@ 4 88
for cable transfers. Prime commercial bills were 4 86^
@4 86|- and documentary 4 85f@ 4 86. The City of
Washington brought $50,000 Mexican gold on Wednes
day from Havana in transit to Europe.
From the annual report of Pullman's Palace Oar Com
pany we get a better insight than we have yet had into
the conditions which brought about the reduction in
wages at the company's car shops and led up to the strike
of the employees and finally to the general strike in
augurated by the American Railway Union. The com
pany of course earned its dividends, but the surplus
above the dividends on the results for the twelve
months was only $2,320,417 for 1893-94, against
$4,006,448 for 1892-93, a falling off of I f million dollars.
If we look to see how the loss is accounted for, we find
the bulk of it in the item called “ Manufacturing,
Rentals, Dividends, Interest, & c."
This item
had netted $2,159,189 in 1892-93 ; in 1893-94
it netted only $826,746. As far as the manufacturing
department by itself is concerned, that netted a loss,
though just how much does not appear from the report.
The dividends which the company was able to pay, there
fore, came almost entirely from the earnings of its cars.
We see too by the balance sheet that the amount written
off against income (we mean surplus income after
providing for dividends, &c.,) was very much larger
than in the year preceding, being $2,069,453, against
$739,855. Possibly the larger charge simply reflects
extra conservative action, but nevertheless it is indica
tive of the times, which make increased prudence
essential in the conduct of large enterprises. If we
should allow for the amounts written off in the two
years, we should find that the surplus above dividends
in the late year had been comparatively small, as
against a surplus for the year preceding of over 3£
million dollars.
As illustrating the depression in the manufacturing
department the remarks made by President Pall man
at the annual meeting at Chicago last week are both
interesting and instructive. Mr. Pullman states that
the value of the manufactured product of the car
works of the company for the year was $4,347,317 and
of other industries, including rentals, $578,014, a total
of $4,925,331; in the year preceding the amount had
been $13,414,709. Here, then, we have a falling ofE
of 8£ million dollars, and this tells the story more
plainly than anything else could. The strike which
occurred May 11, 1894, will account for only
a portion of the difference.
In
fact the
previous November the company had in its employ
only 1,100 men, while the average number for the
fiscal year ending July 31, 1893, had been 4,497.
717
Prices for cars had declined nearly one-quarter, and
such was the stagnation that in August and September,
1893, the company had opportunity to make only
six bids for work, of which but three were accepted.
After the reduction in wages, the company by making
bids at shop cost and less, was able to secure work ag
gregating $1,500,000, and was underbid for about the
same amount of work. The net loss to the company
on the accepted bids was over $50,000. In this way
the management had succeeded in increasing the force
of employees again, at the time of the strike, to
nearly 3,300. Mr. Pullman asserts that both the
contracts taken before the strike and those taken since
are being executed at prices which give no profit. This
he states is done because the shops are being kept in
operation for the repairing of the company's own cars
and because it is the desire to give as much employ
ment as possible in the present condition of business.
He also corrects the impression that the strike was in
fluenced by the fact that house rents at Pullman were
not lowered when wages were reduced. He says that
more than two-thirds of the employees who began the
strike were not tenants of the company.
An encouraging feature in the general situation just
now is the action of railroad managers nearly all
over the country in making efforts to put and keep
rates on a better and more remunerative basis. There
have been a great many meetings of railroad officials
within the last few weeks, and the object in nearly all
cases has been either to restore rates, previously cut, or
to concert measures for their maintenance according
to agreed schedules. The meeting of the managers of
Western roads at St. Louis last week resulted in an
agreement for a division of business which went into
effect on Monday, and at a meeting of the members
of the Central Traffic Association this week at Cleve
land a resolution was" adopted in favor of the
restoration of the old tariff of 25 cents per
100 lbs. on grain and 30 cents on provisions from
Chicago to New York, being an increase of 5 cents over
present rates. This resolution only requires the en
dorsement of the Trunk Line Association to make it
effective. At both the St. Louis and the Cleveland
meetings agreements were adopted pledging the roads
to issue no more free passes on traffic account, and gen
erally a very harmonious feeling prevailed. Railroad
managers are also inclined to believe that a bill legal
izing pooling can be passed at the coming session o f
Congress, which would put it within the power of
the roads to enforce their agreements through the
courts.
The Pennsylvania Railroad statement of earnings for
September has been issued this week, and after th e
favorable return of the month preceding it may per
haps be considered disappointing. On the lines east
of Pittsburg and Erie the statement shows an increase
of $103,573 in gross earnings and an increase of $144,626 in net earnings, and on the lines west of Pittsburg
and Erie a decrease of $220,381 in gross and a decrease
of $170,219 in net.
For the combined system, there
fore, the result is a decrease of $116,808 in gross and a
decrease of $25,593 in net. In August the return showed
a considerable increase in both gross and net— $419,470
in the former and $773,748 in the latter. But it
should be remembered that on account of the fact that
September 1894 contained five Sundays, results for the
present year are based on one less working day than for
the same month last year. Then it should also be
borne in mind that comparison is with a period in 1893
718
THE CHRONICLE.
when passenger earnings had been greatly enlarged by
, the World's Fair. It is true this was a factor in
the comparison for the month preceding, too, but
, not to the same extent, travel to the Fair having been
very much greater in September than in August. An
other fact which should not be overlooked is that the
falling off in earnings last year was smaller in September
than in August, in part no doubt as a result of the increas
ing importance of the Fair travel. Thus it happens that
while in August comparison was with earnings which
had recorded a decrease (combined system) of $1,301,391 in gross and of $644,840 in net, for September
comparison is with totals recording only $1,115,141
decrease in gross and $161,795 decrease in net. In the
following we give the gross and net earnings of the
Eastern lines for a number of years past. It will be
observed that in this case the net for the month the
present year is larger than for either last year or the
year before.
L in e s e a s t op
P it t s b u r g .
1894.
1893.
1892.
1891.
1889.
1890.
September,
$
$
$
$
$
$
Gross earnings.... 5,498,083 5,394,510 6,098,024 6,159,557 5,780,339 5,428,733
Operat’g expenses. 3,405,866 3,446.919 4,045,029 3,913,181 3,552,968 3,448,905
Net earnings...
2,092,217 1,947,591 2,052,995 2,246,376 2,227,371 1,979,828
Jan. 1 to Sept. 30.
Gross earnings...... 42,244,640 50,303,951 50,598,755 49,527,125 49,044,171 44,608,609
Operat’g expenses. 29,558,471 36,180,285 ¡36,070,164 34,016,072 34,193,060 29,790,180
Net earnings... 12.685,169 14.123,666114,528,591 15,481,053 14,851,111 14,878,429
Among other roads which have furnished returns for
September this week the Allegheny Valley, a Pennsyl
vania Railroad line, shows $31,405 increase in gross,
$25,862 increase in net; the Northern Central, another
Pennsylvania Railroad line, $22,959 decrease in gross,
$30,292 decrease in net; the Western Maryland $2,541
decrease in gross, $6,459 decrease in net; and the Geor
gia Southern & Florida $7,632 increase in gross and
$2,344 decrease in net.
,--------- ------ September Earnings.------------------,
1894.
1893.
1892.
1891.
$
$
$
$
212,2*7
180,862
240,192
233,064
Allegheny Valley...................Gross
Net
99,255
73,393
109,090
111,990
Ga. Southern & Fla................Gross
64,956
57,324
63,484
59,896
Net
9,664
12,008
21,063
22,121
Name of road.
Northern Central...................Gross
Net
W estern Maryland............... Gross
Net
559,588
196,712
128,316
58,501
583,547
227,004
130,857
64,960
650,070
222,490
174,222
105,061
625,919
194,375
127,322
67,385
The following gives the week's movements of money
to and from the interior by the New York banks.
Week Ending October 26,1894.
C urren cy .....................................
G o ld ................................................
Total gold and legal tenders...
Net Interior
Movement.
Received by Shipped by
N, F. Banks■N. P. Banks
$3,291,000
700,000
$1,455,000 Gatn.$l,836,000
100,000
600,000 Gain.
$3,991,000 $2,055,000 Gain.$l,936,000
Result with Sub-Treasury operations :
Out of
Banks.
Into
Banks.
Week Ending October 26,1894.
Net Change in
Bank Holdings.
Banks’ interior movement, as above $3,991,000 $2,055,000 Gain.$l,936,000
11,100,000
12,800,000 Loss
1,700,000
Total gold and legaltenders.— $15,091,000 $14^855,000 Gain” $236,000
Amount of bullion in principal European banks.
England........
France...........
Germany*....
A ust.-Hung’y
Spain.............
N etherlands.
Nat.Belginm*
■*
October 25,1894.
Bank of
October 26,1893.
Gold.
Silver.
Total.
Gold.
Silver.
£
£
£
£
£
£
49,657,290
11,911,000
14,610,000
9,767,000
6,766,000
1,617,333
36,751,867
125,459,402
47,644,000
29,622,000
17,771,000
10,837,000
4,852,000
26,561,774
68,100,000
28,952,250
10,674,000
7,918,000
2,700,000
2,696,667
50,598,000
9,650,750
16,222,000
6 431,000
6.867,000
1,348,333
26,561,774
118,698,000
38,603,000
26,896,000
14,349,000
9,567,000
4,045,000
36,751,867
75,802,112
35,733,000
16,012,000
8,004,000
4,071,000
3,234,667
Total.
Tot.this week 178,608,646 94,328,623 272,937,269 147 602,691 91,117,083 238,719,774
Tot. prev. w’k 176,429 222 94.057,609 270,486,831 146,333,639 90,781 000 237,117,630
* The division (between gold and silver) given in our table o f coin
and bullion in the Bank o f Germany and the Bank o f Belgium is made
from the best estimate we are able to o b ta in ; in neither case is it
claim ed to be accurate, as those banks make no distinction in their
weekly returns, m erely reporting the total gold and silver, but we
belie v the division we make is a close approxim ation.
N ote .—We receive the foregoing results weekly by cable, and w hile
n o t all o f the date given at the head o f the column, they are the rei urns issued nearest to that date—that is, the latest reported figures.
[V ol,
LIX,
THE BALTIM ORE B A N K NOTE P LAN .
We think the framing and adoption of the bank
note plan at Baltimore by the National Bankers' Con
vention, about which we wrote briefly two weeks since
will prove to be a measure and event of decided useful
ness. Our people are of course greatly interested in
currency reform. One very important measure, the
repeal of the compulsory purchases of silver, has been
already secured under the pressure of the panic those
purchases produced. But unfortunately, other than
that no progress towards the rectification of our hetero
geneous mass of paper money has been achieved be
cause conservative classes have not made themselves
heard and felt, mainly for the reason that they have
been divided by minor differences to an extent which
has prevented any headway being gained against the
prevailing financial errors. It is only under such con
ditions that ignorance can rule the day or obtain even
a temporary advantage in the United States.
The importance of unity for effective action was for
cibly presented at the Convention by Mr. Hendrix of
New York. He said he favored the plan proposed not
only because he thought it was right but because he
was anxious to see the bankers of the United States
for once get together behind a concrete idea and push
it. This embodiment of a principle of currency, he in
substance added, has been greatly needed by the bank
ing fraternity to enable it to take an affirmative and
aggressive stand on the question, so that whenever a
legislator, a statesman, or a political economist, touched
its circle he would feel the thrill of some one central
thought which dominated the whole business of banking
as practiced and understood in this country. Mr. Horace
White on the same occasion also expressed the belief that
a plan thus supported could be carried through Congress,
and without waiting very long to do it—a belief which
we think only needs earnest, persistent action in- behalf
of the measure adopted to prove its correctness. We
do not mean that many Congressmen have not hereto
fore worked faithfully and shown great zeal in the cause
of sound money. But we do say, and it is a notorious
fact, that they have never been supported and backed
by any earnest organized force representing the educa
tion and practical experience in money matters of the
country. In such an untilled soil of course errors will
grow and have grown until men in Congress, some o f
whom are not utterly daft but have sensible ideas on
other than financial subjects, have not been ashamed to
rise and speak of economists and bankers and capitalists
as if they were enemies of the race, the off-scouring of
the earth.
What is the currency situation which it is desirable
to reform ? Aside from Government issues of paper
money, which no student of financial history wants to
perpetuate, we have a bank-note system that has fallen
into disuse. The Baltimore Convention addressed itself
to making the old national banking law a going concern
as a first step towards reform. Why has that note system
become almost obsolete ? Chiefly for the reason that
taking out circulation under the law does not now and
never will again pay the issuing bank. The machinery
remains just as it was during the many years when
there was great eagerness to secure the privilege, but as
the motive is wanting the eagerness is gone and the
machinery is worthless. Besides that, the note issuing;
power under the existing law is likely soon to become
wholly extinct for the further reason that United States
bonds have grown scarce and the policy of the country
October 27, 1894,]
THE CHRONICLE.
is to pay off the national debt as soon as it conveniently
can be done. There is no need to prove either of these
statements for the facts are familiar to our readers.
They show that since the passage of the old law certain
changes in the environment of the bank note it origin
ated have made the currency provisions of the law
nugatory. It is just these effete provisions and these
alone that the Bankers' Convention has sought to
strike out and replace by an effective substitute.
The first aim of the Bankers' plan was to make a
safe device. What security was available for the note ?
Government bonds, as already stated, were out of the
question. State bonds and city bonds and railroad
bonds have each been proposed as a substitute; but they
would not meet the requirement. If any class of
obligation mentioned were fixed upon and in demand
throughout the country for bank note purposes the
bonds would rule at very high prices and in an emerg
ency would not be marketable except at a large loss.
We have written upon this point ©n former occasions,
and even if we had not the experience which our
recent panic furnished ought to be sufficient to con
vince any one that the security would fail just at the
moment of greatest distrust when the security would
be chiefly required. Moreover we stated two weeks
ago that a circulation issued on and secured
by bonds could not be made flexible and elastic.
No note system which is tied to a bond and not
to commerce can possess that quality. Its volume
must be directly responsive to the expansion and con
traction of the country's exchanges and never be de
pendent upon the purchase and sale of securities,
which at best are slow operations and at times of
greatest need might be wholly impracticable— prices
going so high in times of prosperity as to make the
taking out of currency unprofitable and so low at
periods of depression as to make the sale of the securi-"
ties difficult if not dangerous. Still another objection
to bonds is one referred to by Mr. Hepburn, and may
be illustrated by the situation to-day that $114,000 of
capital has to be locked up, besides a redemption fund
of $4,500, to obtain $90,000 of circulation. In other
words, our national banks, inste d of increasing their
means for helping the public, have to decrease their
available funds $28,500 for every $90,000 of bank
notes put in circulation.
We assume it then to be obvious for the reasons
given (1) that not even safety could be secured for a
currency based on a bond other than the bonds of the
General Government which are no longer available; (2)
that a bank-note system requiring bonds for security
can never be flexible, increasing with expanding com
merce and decreasing with its contraction; and (3) that
bonds make a very expensive sort of currency arrange
ment, as they call for an investment of capital larger
than the note issue, and thereby lessen the power of
the banks to help their customers. These conditions
leave no way open for devising a safe bank-note system
except that adopted by the Baltimore Convention of
putting the bank assets, including the stock
holders' double liability and a guarantee fund, back
of the notes.
It so happens, too, that this is
the only scientific method for constructing a safe and
flexible system— safety and flexibility being qualities
never possessed in the right degree except the note be
regulated by commerce and sustained by commerce.
According to the plan the issue of circulating notes by
each bank is limited to 50 per centum of its paid-up
unimpaired capital subject to a tax of one-half of one
719
per cent per annum upon the amount outstanding for
the year, and an additional circulation of twenty-five
per cent to be known as “ emergency circulation"
(somewhat similar in its mission, Mr. Homer explains,
to Clearing-House loan certificates), subject both to the
tax of one-half of one per cent and to an additional
heavy tax so large as to cause the prompt retirement as
soon as the necessity for its issue has ceased. No doubt
the limitations named are conservative. As to the
“ Guarantee F und" it is created by the deposit with
the Treasurer of the United States (who is made the
redeeming agent) of two per cent upon the amount of
circulation received the first year and thereafter onehalf of one per cent upon the average notes afloat each
year until the total fund equals 5 per cent of the entire
circulation outstanding, and thereupon the tax is sus
pended, to be resumed when the Comptroller of the
Currency shall deem it necessary.
We do not need to discuss these details. There are,
however, some important features of the present na
tional bank note system that are not referred to in the
Baltimore plan, and which would seriously interfere
with the automatic action of the new device, if not cor
rected. We refer chiefly to the legal tender features
the notes possess under the existing law. The purpose
of our bankers, as we understand it, is to make an in
strument for effecting exchanges the movement of
which, when out of work, will be back to the issuer
and not away from the issuer. Every special power
conferred upon the note by statute interferes
with this free action.
To make the note a full
legal tender would, of course, put it outside
of commercial influences ; to give it a semi legaltender function tends in the same direction. Of this
latter character is the present national bank currency.
The statute makes the note a good tender (1) to the
United States for all taxes and debts due to the United
States except Customs duties, (2) to all persons for any
debt due by the United States except interest on the
public debt and in redemption of the national bank
currency, and (3) to any national bank for any debt
due it by any one. These are qualities the present
bank note possesses, each of which interferes more or
less with its complete subjection to the control of
commerce.
But we presume these and other details will be at
tended to when the plan is fully developed. What is
important now is the general fact that the outlines of
a note system have been formulated the prominent
features of which must commend themselves to the
large majority of thinking men, affording a condition
which has never existed before— an organized force in
the national banks around which conservative classes
can gather and aci aggressively. Comptroller Eckels,
in a short speech at the Convention, but made
before the plan was adopted or even introduced,
mentioned the fact that in Baltimore there has
not been for fifty years at least the failure of a
banking institution. A city with such a record was
certainly, as he said, a fitting place for bankers to meet
and discuss the needs of our financial life. It was too
a fitting place to give form to a wise device and
to originate a system which there is reason to hope
may shape future legislation.
This banking law though is not the end of a cur
rency reform movement, it is only a start. In a subse
quent part of Mr. Eckels's address we have words
which, if used as a test of our other paper cur
rency laws, what one of those laws could stand ? He said
720
THE CHRONICLE.
we cannot have our country prosperous if we convert
into a statute any idea which makes either at home or
abroad the soundness of our financial system a matter of
question. The problems of finance touch not alone
our own people, hut they touch the people of
-every country with whom we are carrying on finan
cial transactions. There never has been an at
tempt on the part of a nation or of a State to enforce
a. monetary system which was inherently unsound but
that the result has been panics and fiuanpial disorders.
B y way of illustrating the foregoing let us add the sub
stance of the forecast of the business situation made
this week by Mr. Albert Keep, Chairman of the
Northwestern Railway Board of Directors. The great
-obstacle, he says, which lies in the way of improve
ment is the continued advocacy by demagogues, politi
cians, and even State conventions, of cheap money. A
large part of our currency is really worth only 50 cents
•on the dollar, and agitation for more 50-cent dollars
frightens capital and prevents enterprise. He says he
looks for no great improvement so long as distrust in
regard to our monetary system continues ; and it will
continue so long as the educated business public leave
the shaping of legislation to politicians and dema
gogues.
COMPULSORY A R B IT R A T IO N
DISPUTES .
IN
LABOR
The subject of arbitration as a means for the settle
ment of labor disputes is naturally one which com
mands a great deal of attention. During the present
year the country has suffered from labor disturbances
as never before in its history. The great strike of the
coal miners, in cutting off the supply of fuel, so essential
to the carrying on of manufacturing, entailed enormous
losses both upon employers and men, and for a period
c f two months seriously curtailed industrial operations
and industrial activity. The strike of the railroad
Rands, though of shorter duration, was even worse in
its effects, as it completely stopped all business over
the larger part of the whole country, while it lasted, and
led to disorders which could only be arrested by the
active intervention of the Federal Government. Every
one is interested in avoiding a repetition of such deeply
and widely disorganizing occurrences, and the problem
which comes up for solution is how that object can be
attained.
It may be questioned whether in the existing state of
society any method can be devised for doing away
entirely with strikes and labor disturbances.
As
long as human nature remains as it is, differences
between employers and employees are sure to arise, and
it would be too much to expect that such differences
will always be settled by amicable arrangements. But
there is this much to be said for arbitration, that if
properly and legitimately employed, it furnishes a means
at least of reducing and mitigating troubles between
capital and labor; and for this reason it finds strong
advocates. Moreover it is the way in which we should
all like to see disputes of this kind adjusted.
The people of Chicago have special reason for desir
ing to find a remedy for labor troubles, for during the
late railroad strike that city was the scene of greatest
disturbance. The Union League Club] of Chicago,
therefore, chose an appropriate topic, and one possessing
a wide and general interest, when at its recent meeting
on the anniversary of Chicago Day at the Fair— that
day which will always be memorable in the city’s annals—
V ol. L1X,
it selected arbitration as a subject for discussion and
invited addresses upon the same from well-known men.
The occasion was an interesting one, and the speeches
form an important contribution to the literature of the
question. Among the speakers were Carroll D. Wright,
United States Commissioner of Labor, Charles H.
Walcott, President of the Massachusetts Board of
Arbitration and Conciliation, M. J. Carroll, editor of
the “ Eight Hour Herald,” George P. Royal, a loco
motive engineer and member of the Brotherhood of
Locomotive Engineers, and Angus Sinclair, Secretary
of the American Association of Railway Master Me
chanics. The speeches all contained some good points,
but that of Labor Commissioner Wright was especially
noteworthy in that regard. Mr. Wright’s utterances
possess the more interest as he is a member of the
commission appointed by President Cleveland to in
vestigate last summer’s railroad strike. That com
mittee has not yet rendered a report, and Mr. Wright
thought it would be improper for him to discuss the
uses of arbitration in the settlement of railroad con
troversies. His purpose was therefore to confine him
self to a discussion of arbitration a3 a means for the
settlement of disputes arising in productive industry.
However,what he says is really of general application.
The speech is very instructive because it brings out
so clearly the objections to “ compulsory” arbitration,
which is advocated by a few well-meaning persons who
do not appreciate or understand the fundamental
error underlying the scheme and the dangers which it
would involve in practice. Arbitration by its terms
implies the absence of all force or coercion and the
willing acquiescence of both parties to the dispute ; it
means a wholly voluntary arrangement into which each
of the disputants enters of his own free will, ready to
abide by the result whether for or against him. Arbi
tration in this sense is wholly free from objection and,
as already said, if rightly employed is capable of
conferring great advantages ; but “ compulsory ” arbi
tration would be a totally different thing. It would
mean the abandonment of the essential element of
arbitration, the voluntary feature in it, and the substi
tution for it of the exact opposite— it would mean
forced submission to a tribunal in which the parties
might or might not have confidence and whose con
clusions they might or might not be willing to accept.
In other words, it would not be arbitration at all. In
fact, “ compulsory” arbitration is a misnomer and
involves a contradiction. Mr. Wright brings this out
very cleverly when he says that one might as well speak
of voluntary coercion as compulsory arbitration.
But considering the principle or idea which the term
compulsory arbitration is meant to embody, Mr. Wright
shows how unfortunate and objectionable would be the
operation of that principle in practice. A manufacturer
employs 5,000 men and pays them $3 00 a day. Under
the stress of hard times or of competition or the lack of
demand, he finds he is no longer able to pay $2 00 and
therefore proposes a reduction to $180 per day. The men
oppose the reduction. They say they cannot live for
less than $2 00 a day. The employer is then summoned
to court. The court after a full investigation finds
that the manufacturer is right, and that the men must
accept $1 80. The men are still unwilling. How is
the court to enforce its decree against these 5,000 men?
Is the constable to be called upon, and the sheriff and
the sheriff’s posse, and finally the military power of the
State? How can the court compel the men to work,
and if they refuse what will it do with them? There is
October 27, 1894.]
THE CHRONICLE.
721
only one answer— the decree is dead from the start. act in defiance or neglect of that opinion, or to under
Now reverse the operation. The court decides that rate its impelling force whenever the right is made to
the manufacturer is wrong, and that he must continue appear.” Says Mr. Royal: “ Arbitration is out of the
to pay the men $2 00 a day. What is the manufacturer question without the moral force to sustain it both on
to do ? If he refuses to obey we may suppose the court the side of the employer and on that of the employee.” "
will levy upon his property and close up the”establish- Says Mr. Carroll of the et Bight Hour Herald ” : “ I
ment. If, on the other hand, he undertakes to respect believe that almost any law will answer the purpose,the decree, he finds that he is operating at a loss, and provided that it is backed up by a public sentiment
in the end he is forced to close up anyway. There is strong enough to compel recognition.”
We think:
one other alternative ; he can raise the price of his these views accu rately portray the prevailing temper
goods.
But if he does that the business goes to among the mass of the people, and they suggest the
his competitor.
Thus the result is in all cases lines along which a solution of the problem for dealingthe same, “ the death of that man’s industry|and of all with labor disputes must be sought. It is not arbi
industry.”
trary and autocratic powers that are adapted to the
There is another aspect of the matter. By fixing the situation, but a policy or course of action dependent
price of labor, the court has fixed the price of the mainly upon public opinion for its enforcement.
product. But the consumer will not pay the higher
price if the goods can be obtained elsewhere at a lower
figure. The next step in the process would be to make THE REDUCTION OF RATES B Y THE M IN
NESOTA R A ILR O AD COMMISSION.
it a penal offense for the consumer to buy at a less
price than that asked by the manufacturer. Manifestly
The Great Northern Railway is contesting the recent
it would not be fair to put the manufacturer in jeop order of the Minnesota Railroad Commissioners reduc
ardy and let the community buy of his competitor, ing rates on its lines, and has performed a public servicewhose men might be content with $1 80 per day. Why in showing how utterly unjustifiable the action of thenot, says Mr. Wright, simplify the whole thing by Board is. We say the company has rendered a great
making a scale of prices fixed by a statute. Under the service in doing this because both in their public?
principle of compulsory arbitration the workingman utterances and in their official action the inembers of
becomes a slave. “ He has allowed a court of law to the Commission have for some time shown a peculiarly
fix the price at which he will sell his labor. He must hostile attitude towards the railroads, and we think it
sell it at the price the law directs or not sell it at all. is no exaggeration to say that that Board in its treat
He has descended to the position of being obliged to ment of railroad interests is to-day the least liberal and
work for $1 80 when the cost of subsistence is $2 00. fair-minded of any public body of that kind in the
So on either hand, looking at the interests of the work country.
ingman and of the employer, and of the community
The argument in the Great Northern case is con
itself, compulsory arbitration means death to industry tained in an affidavit filed by Vice-President W. P.
and the enslavement of the workingman generally.”
Clough, and the facts are of general interest. In the
Mr. Wright answers those who say, “ Shall we live affidavit the matter is treated from almost every stand
in the present condition, with an armed neutrality— point, and proof offered to show that the proposition
rather give us the power of the courts,” by saying : to reduce rates is untenable however considered. Mr.
“ That is going back to the very ages from which we Clough takes up first the question of the cost of the
have been divorced— not to armed neutrality but to road. He begins by referring to the well-known fa ct
an armed condition. That is going back from civiliza that the Great Northern Company as lessee has since
tion to the worst barbarism that ever existed on this February 1, 1890, operated the lines of the St. Paul
continent. That is going back to the time when men Minneapolis & Manitoba Railway and by the terms o f
could say, ‘ I can kill you and you must get out of the the lease is obliged to pay the interest on the bonded
way.’ * * Compulsory arbitration means going back indebtedness of the Manitoba and 6 per cent upon its
to the condition whence we have emerged. There can capital stock of $20, 000, 000. He then goes on to state
be no life under it.
There can be no pros that the Manitoba Company owns altogether 1,3811perity under it. There can be no society under it, miles of road in the State of Minnesota. Of this total
for the security of prosperity depends more upon the 401 miles was constructed by the old St. Paul & Pacific
industrial world than any other element we can name. and St. Paul & Pacific First Division companies, and
With industry prosperous social life and the Church the Manitoba acquired title to the same in June, 1879 r
flourish, and we see the effects of progress and civiliza by foreclosure of the mortgages on those properties.
tion, and to go back from this is not the spirit of the At the time of foreclosure there were outstandingage.”
binds in the hands of bona fide holders to the aggre
Mr. Wright believes in arbitration in the true spirit, gate amount of $33,000,000 on this 401 miles of road1
which he says is love. It is a significant fact that of besides stock amounting to at least $6, 000, 000. Be
the various speakers at the Union League meeting above tween June, 1879, and January 1, 1880, the Manitoba
referred to, but one really advocated compulsory arbitra Company constructed 255 additional miles of road
tion, and he only in a qualified way. Upon one point to connect detached portions of the old lines,
all the speakers were agreed, namely that public making 656 #25 miles of road purchased or constructed
opinion is the all-controlling factor in the situation, prior to January 1, 1880. The actual cost to the
and that without its support success in a labor dispute Manitoba of these 656 miles of road, with equipment,
is difficult, if not impossible. Says the President of terminals, &c., was somewhat in excess of $18,000,000
the Massachusetts Board of Conciliation and Arbitra —a low figure, the indebtedness on the old mileage o f
tion : “ I am a firm believer in the power of public 401 miles before foreclosure having been, as we haveopinion alone to enforce the recommendations and decis seen, thirty-three million dollars.
ions of an Advisory State Board, such as we have in Massa
Between January 1, 1880, and February 1, 1890, the
chusetts, and he is a bold man who will undertake to date of the lease to the Great Northern, 725 mile»
722
THE CHRONICLE.
more road were constructed at a cost of $23,900,000.
Adding this to the preceding figures we get the total
of 1,381^ miles of road already mentioned and find
that the cost of the same to the Manitoba has been $42,337,050, an average of somewhat over $30,000 per mile.
What has already been said shows that this is a very
small figure. But to further re-enforce its position
the company furnishes sworn statements by persons
familiar with the character of the Manitoba's lines and
the cost of building new road, who certify that at the
present cost of land, labor, material and construction
the 1,381 miles of road, with equipment and terminals,
could not to-day be replaced for $42,000,000. The
company, however, goes a step further and deducts from
the total the amount derived from land sales up to Jan
uary X, 1894 ($5,342,000) besides $500,000 of surplus
revenue applied to construction.
In this way the
actual cost of the property to the company from
money furnished by itself is found to be $36,495,050,
or an average of $26,422 per mile for the 1,381 miles
of road.
Now on the basis of this very low cost, what return
do the earnings from the local business in Minnesota
show? Of course it is not easy to separate the revenues
from local business from the revenues from inter-State
traffic, but a statement is incorporated furnishing an
approximate division. It is found that the highest net
revenue from business local to Minnesota in any year
since 1889 was in 1892, when the amount was $1,535
per m ile; in 1893 the amount declined to $1,416 net
per mile, and in the fiscal year 1894 it was only $1,149
per mile. But these amounts, it is pointed out, include
receipts not only from business from one point to
another within the State, but also all shipments from
points in the State through the terminals of the company
at Hinckley, Minnesota Transfer, Minneapolis and St.
Paul to points without the State, and all business from
points outside the State through said terminals to
points within the State. “ The people of Minnesota,
therefore, in this estimate have the benefit of a large
amount of earnings on inter-State business." And yet
even in this way the net revenues indicate a return on
the low actual cost of $26,422 per mile of only 5*35 per
cent for 1890, 4*71 per cent for 1891, 5*81 per cent for
1892, 5*36 per cent for 1893 and but 4 ’35 per cent for
1894.
But in taking the net earnings as given, no allowance
has been made for wear-and-tear of road-bed, track,
equipment, &c., “ not replaced by current repairs, as a
reserve or sinking fund, to be used for the purpose of
reconstruction and replacements." This, it is calcu
lated, should be at least $200 per mile. Deducting
that much, the net earnings from the local business
are found to equal only 4*59 per cent for 1890, 3-96per
cent for 1891, 5-05 per cent for 1892, 4*6 per cent for
1893 and not more than 3*59 per cent for 1894. With
out the deduction, the net per mile in 1894, as we have
seen, ;was $1,149.
It is estimated that had the order
of the Minnesota Commission been in force during the
twelve months of the late year the net would have
been only $1,057 per mile, and with the $200 for re
construction and replacements taken out, but $857 per
mile, the latter being at the rate of only about 3£ per
cent.
The bonded indebtedness of the company on
the lines in Minnesota averages somewhat over $19,000
per mile, and of the total of the debt on these lines
$2,322,000 bears 7 per cent interest, $7,454,000 4-J per
cent interest and the remainder 6 per cent interest. The
actual interest charge on the bonded indebtedness local to
[V O L .
LIX.
the State of Minnesota is put at $1,078 per mile. Thenet
revenue per mile from the local business in Minnesota
for the late year (after taking out the $200 for recon
struction) was, . as already stated, only $949, and with
the order of the Commission in force would have been
but $857, as against the $1,078 fixed charges per mile.
Moreover, as was pointed out at the very outset, this
estimate of the net earnings includes some revenues
from inter-State business. It is evident therefore that
if the company had to depend upon the purely local
business derived within the State of Minnesota it
would not be able to earn the interest upon its
bonded indebtedness on the lines in the State, not to
speak of dividends upon the capital stock. It is the
growth of the inter-State business resulting from the
extension of the Great Northern system that has
enabled the company to maintain its prosperity. In
1890 the receipts from inter-State business formed 44*69
per cent of the total receipts of the lines in Minnesota ;
in 1891 the proportion was 46*89 per cent, in 1892
45*64 per cent, in 1893 51*75 per cent and in 1894
52 per cent.
The argument against the or der of the Commission
is j ust as strong from other standpoints. An important
consideration, of course, concerns the rates them
selves. Have these been kept at an unreasonably high
figure and not been reduced for years ? On the con
trary, as the road has been extended westward and
inter-State traffic has increased, rates in Minnesota
have been largely and voluntarily reduced. Tables are
presented which bring out this fact in a graphic man
ner. Thus from Orookston to Minneapolis and Duluth
the grain rate was 27 cents per 100 lbs. in 1880,23 cents in
1885, 17i cents in 1890, 16| cents in 1893. From St.
Vincent to Minneapolis the rate has been reduced from
35 cents in 1880, to 25 cents in 1885, to 19 cents in
1890 and to 18 cents in 1893. From Benson to Min
neapolis and St. Paul the rate was 21 cents in 1880,
17 cents in 1885, 11J cents in 1890 and 1X£ cents in
1893. Thus present rates in many cases are only about
half those charged in 1880. If we look at the tariffs
on lumber or coal we meet with similar largo reduc
tions. The rate on coal from St. Paul to St. Vincent
was $9 per ton in 1880, to-day it is only $4 per to n ; to
Fergus Falls the rate has been reduced from $3 40 per
ton to $2 45, to Benson from $2 80 per ton to $1 70
per ton. It is also found that rates on the Manitoba
are less as a rule than on other Western roads where
the conditions would favor lower rates than on the
Manitoba. The grain rate from Orookston to Duluth,
364 miles, as we have already seen, is 16 J- cents; the
order of the Commission would reduce it to
14£ cents.
On the main line of the Union
Pacific the rate to Omaha from points distant from
308 to 350 miles is 21 cents. From St. Vincent to
Duluth, 454 miles, the rate on the Great Northern is
18 cents, and the Commission wants to reduce it to 16*4
cents. On the Union Pacific the rate for a distance of
only 392 miles is 23 cents. The existing grain rates of
the Great Northern are likewise lower, for the same
distance than the rates from points in Iowa to Chicago
and from points in Nebraska to Omaha, though the
volume of business in the region served by these lines
is stated to be from five to six times greater than that
of the Great Northern and the cost of operation less.
Calculations are made showing that in Kansas, Ne
braska, Iowa, Missouri and Illinois the population per
square mile is 32 and the tons of wheat and corn per
square mile 105, while in Minnesota, North and South
October 27, 1894 j
THE CHRONICLE.
723
Dakota the population per square mile is only 7*8
and the tons of wheat and corn only 23 per square THE CZAR AND CZAROWITZ—J O Y AND
SORRO W.
mile.
While granting these lower rates on a smaller traffic,
Seldom indeed in the whole course of human affairs
the Great Northern is at the same time at a great dis has a spectacle so peculiar, and in some respects so
advantage in other respects. It is obliged to transport touching been exhibited to the world as that which is
its coal long distances and the cost to it per ton is now being exhibited by the ruling family of Russia.
$3 19, whereas the Milwaukee & St. Paul gets its coal In the Imperial household, partly by choice and partly
at $2 01 per ton, the Chicago & North We stern at $1 85 by necessity, joy and sorrow go hand in hand.
per ton, the Quincy at $1 37 per ton and the Illinois
Hitherto the Russian Imperial family have not shared
Central at $1 00 per ton. The cost of fuel per engine largely in the world's sympathy. On the contrary,
mile on the Great Northern is 14‘72 cents ; for the St. with a large class they have ranked among the best
Paul and the Nor th Western the cost is respectively 7-40 hated of mankind ; and what has been remarkable for
and 7*95 cents, and for the Quincy and the Il generations, the hatred with which they have been
linois Central 5*87 and 4*95 cents.
The Great regarded has been pronounced among their own
Northern is also obliged to bring all the iron it people.
Nor is
this
greatly
to
be
won
uses, in every form, from Chicago or Eastern points. dered at. In an age of reform Russian institutions
In fact, it is stated that the cost of everything enter have remained stationary. While all over Europe, as
ing into the construction and maintenance of its road in America, the people have come to the front and
exceeds the cost of such items to roads in Iowa, claimed their share in the management of national
Illinois and Nebraska, the Great Northern having the affairs, the will of the Czar has remained, as it has
advantage in only one item, namely lumber. The been for centuries, the law in Russia. It is the one
cost of repairs per engine mile stands at 5*36 cents continuing example of unqualified despotism in the
for the Great Northern as against 4*19 cents for so-called civilized world. Lovers of liberty have been
the St. Paul, 4*59 cents for the Quincy, 4*04 cents in the habit of looking upon the Russian Government
for the Illinois Central and 3*62 ©ents for the North and upon the House of Romanoff as wholly hostile to
Western.
the progress of the human race. To-day, however, it is
The fact is also brought out that while freight rates hardly an exaggeration to say that that unfortunate
have been so largely reduced, the price of labor has house has the sympathy of the world; at least the intel
been steadily rising.
For station and train men the ligence of the world finds it impossible in circumstances
company paid $1 98 per day in 1890, $2 04 in 1891, so touching and so peculiar to withhold its sympathy.
$2 06 in 1892 and $2 45 in 1893 ; for carpenters,
It is now some months since it became known that
machinists and other shopmen it paid $1 77 in 1890, the Czarowitz was betrothed to the Princess Alix
$1 80 in 1891, $1 83 in 1892 and $2 02 in 1893, while of Hesse. At the time we called attention to the fact,
for trackmen and other laborers the rate of and gave some reasons for calling it a happy arrange
pay has been $147 in 1890,
$146 in 1891, ment. Marriage alliances between the Imperial family
$150 in 1892 and $1 68 in
1893. Another of Russia and German princesses, as every reader
important consideration bearing on rates is mentioned. knows, is no novelty.
So frequent, indeed, have been
The movement of traffic is to a preponderating extent in those alliances that the Imperial family, but for its
one direction, and one-half the cars in which wheat is name, position and traditions, is more German than
transported from Red River Valley points are returned, Russian. It is the first time, however, that such
from the terminals empty. In other words, the return alliance has so closely affected Russia and Great Britain
loads, which help equalize the burden of cost, are —the two rival Imperial powers. What Russia is
lacking.
It is finally pointed out that the aver on land, Great Britian is at sea. A collision between
age earnings per ton mile in the State of Minne those Powers, or any war in which they should take
sota were 2*51 cents in 1882, 1*52 cents in 1885, opposing sides, would be a world-wide calamity. What
1*36 cents in 1887, 1*28 cents in 1890 and 1*23 cents in ever makes for peace between them is to be regarded as
1893.
a blessing. In the event of the death of the present
We think it will be admitted that the company has Emperor a grand-daughter of Queen Victoria will
made out a perfect case against the Minnesota Com share the Imperial throne with her husband; and there
missioners. Of course the Great Northern gets a very is the prospect that a descendant of Albert the Good
large traffic from its lines outside of Minnesota, and as well as of Peter the Great will one day be Emperor
should it be obliged to adopt the rates ordered by the of all the Russias. It is difficult to resist the convic
Commission, not unlikely the loss on that account tion, in view of all existing circumstances, that the
might be made good in other directions. We hear, for marriage of the Czarowitz to the grand-daughter of
instance, that notwithstanding a failing off in the Victoria points hopefully in the direction of peace.
grain movement, October earnings the present year
It is not perhaps much to be wondered at that in the
promise to be in excess of those of any preceding year. peculiar condition of the Russian Imperial family, and
But that does not alter the injustice of the act. The in the peculiar condition also of the nations of the
order of the Commission applies directly only to the world, there should have been much idle and meaning
Great Northern, but any reduction on the lines in that less rumor. We have been asked to believe that the
system would of course have to be met in competitive Czarowitz was unwilling to be saddled with the cares
territory by other roads, and we need hardly say that and responsibilities inseparable from the throne. It
many of these roads are not so lightly capitalized as the has also been said that he has unwillingly yielded
Manitoba and hence would find it much harder to bear obedience to domestic authority in the matter of the
the loss resulting from the proposed reduction. Be marriage with the Princess Alix. It is sufficient to
sides, this is hardly the time for trying experiments, say that not a particle of evidence has been produced
when the country is still in the throes of a great de in support of either of those statements. The one
pression.
statement is as absurd as the other. Are we to believe
724
THE CHRONICLE.
that a man in his twenty-seventh year has only begun
to realize his responsibilities, and to think for the first
time of what is expected of him as the head of the
great House of Romanoff ? Are we to believe
that in presence of a dying father, anxious to
set his house in order before his departure, he is cow
ard enough to refuse to bear the burden which comes
to him as a birthright ? We cannot believe the one
thing or the other. The family to which he belongs
is not made of such material. On the other hand, and
in regard to the other charge, are we to believe that
this Princess Alix, who has a grandmother on the
throne of Great Britain and a cousin on the throne of
«Germany has been led against her will to the arms of
*n unwilling husband? The supposition of such a
thing is too preposterous to be entertained even for a
moment.
Rumor has not ended here. We have been told that
the advent to power of the new Czar will involve an
•entire change of Imperial policy— a change which will
%ring about new combinations and new alliances and
be prejudicial to the peace of the world. Proof is as
•conspicuous by its absence in this as in the other
■charges. The only thing we do know for certain is
that the Czarowitz entertains friendly feelings towards
»Germany and England; but this surely does not neces
sarily imply unfriendly feelings towards France.
It is undeniable that there is much in the present
condition of the world well fitted to fill the minds of
rulers and of all thinking men with grave anxiety.
There are many unsettled questions in Europe, and
causes of irritation are not wanting. Year after year
France seems to become conscious of increased strength,
and latterly she has shown a disposition to force Great
Britain into the ranks of her avowed enemies. Her
African policy has already produced a bad feeling
.among all ranks and classes of the British people. We
have not seen the end of the trouble in the East; nor
can we form any clear or satisfactory opinion as to what
the end will be. Evidently France clings to Russia; and
when the final settlement oomes, unless the relations of
Russia and France are materially changed, she will
h e found on Russia's side. France demands the priv
ilege of expansion in the south of China. Russia
believes she needs territory in the north. Great Britain
•cannot be indifferent to the territorial expansion of the
on e power or the other at the expense of China, and it
remains to be seen by what means all are to be satisfied
.and peace maintained.
If the spirit of unreason should prevail, it is impossi
ble to foretell what proportions the struggle might
Assume. It is just here, however, where the influ
ence of the young Czar may make itself felt. His
relations with England are much closer than those of
Ms father, or indeed of any previous Czar. His rela
tions with Germany from the same cause are of the
cnost intimate kind. Dangerous and delicate, there
fore, as the situation threatens to be before this war in
the East is finally brought to a close, there is a strong
presumption that dynastic ties will prove helpful in
¡preventing Russia and Great Britain from getting into
open conflict, and in guiding the Powers generally to
isome peaceful and satisfactory arrangement.
Much of what we have said proceeds on the assump
tion that the days of the present Emperor of Russia
Are numbered and that his death is imminent. We
shall rejoice with thousands if he shall triumph over
his malady and be permitted to lead his people in the
^pathway of progress. If he must soon give place to his
[VOL. LIX.
son, it will be matter -for general joy if the son shall
give evidence that he has inherited from his father his
love of home and of domestic felicity, and that, like his
father, he delights in the ways of peace.
M ILW AU K EE & ST. P A U L — THE LIMIT
UPON THE ISSUE OF GENERAL
MORTGAGE BONDS.
The following from Vice-President B>nd of the
Milwaukee & St. Paul relates to the power of the com
pany to issue general mortgage bonds reserved for prior
lien issues where such prior lien bonds may have been
converted into preferred stock.
Chicago Milwaukee & St . P aul R ailw ay C o .)
New Y ork , October 23, 1894. \
Editor F inancial Chronicle :
Dear Sir :—My attention hag b9en called to an article in
one of the Wall Street papers that reads as follows:
“ ST. PAUL.”
“ The following clause in the St. P a u l4blanket ’ 4 per cent
mortgage has hitherto escaped attention.
“ After providing for the replacing of $121,819,000 of exist
ing bonds by the general fours according as prior liens mature,
the clause goes on as follow s: 4And in case any of the afore
said bonds are hereafter converted into preferred stock as
therein provided, the party of the first part (the St. Paul Co.)
after all the bonds specified in Article II of this indenture (viz.
$22,181,000 for improvements, etc., premiums on refunding
other prior bonds, second track, real estate, etc., etc.) shall
have been issued, may from time to time present said bonds
so canceled by conversion into preferred stock
. . .
to
said trustee, and thereupon said trustee shall certify and
deliver of the bonds specified in this article an equal amount,
face value, to the bonds so canceled and presented.’
44The meaning of this clause is that when $22,181,000 of the
general fours shall have been issued for improvement and
other purposes specified above, the company is entitled to
additional 4 per cent bonds to the amount of whatever con
versions have been made since the date o f the mortgage (1889)
from convertible bonds into preferred stock. The company
thus can issue both preferred stock and 4 p er cent bonds fo r
the converted bonds. ”
This statement is, intentionally or unintentionally, untruth
ful and misleading. Had the quotation from the mortgage
been correctly set forth, the statement in the last paragraph
could not truthfully have been made. The words omitted
(and there are dots to show the omission) read as follows :
44together with a certificate or certificates signed by the Presi
dent and General Manager or Chief Engineer, as provided in
Article II. of this indenture.” The original mortgage was for
$150,000,000, of which there were withheld $121,819,000 to pro
vide for the thirty-six different issues of underlying bonds de
scribed in Article III. and $22,181,000 for other purposes asset
forth in Article II. As some $30,000,000 of the underlying bonds
were exchangeable for preferred stock, the mortgage provides
in last paragraph of Article III. that after the $22,181,000 shall
be exhausted, bonds may from time to time be issued in re
payment of expenditures actually made for extensions, addi
tions and branches, additional second track, real estate, side
tracks, etc., as set forth in Article II. (pages 16 and 17 printed
copy of the mortgage),41on certificates signed by the President
and General Manager or C hief Engineer setting forth the addi
tional property purchased or acquired,” etc., the limit of such
issue being the par value of convertible bonds exchanged for
stock. All bonds so exchanged are at once canceled, and the
only purpose in presenting them with the certificates showing
cost of additional property acquired i3 that the trust company
shall know how many bonds can be countersigned under the
limitations of Article III. As a matter of fact not a single
one of the 4 per cent bonds has ever been issued except to
retire underlying bonds and for the actual cost of additions
and improvements to property, and none can be issued except
for such purposes.
Yours truly,
FRANK S. BOND,
Vice-President.
It is only necessary to say with reference to the fore
going that the facts are perfectly plain, just as Mr.
Bond states, and that there is no reason for misunder
standing them. We may add that any one desiring to
see the terms of the mortgage will find an abstract of
the same in the C h r o n i c l e of June 22, 1889, pages
OCTOBER
THE CHRONICLE.
27, 1»B4.J
725
830 and 831; the provisions which Mr. Bond quotes
THE L A W SUBJECTING UNITED STATES
appear under the head of “ Old Bonds, How E x
NOTES TO TAXATION.
changed/' on page 830.
CONDITION OF STATE BANKS.
We have received this week reports of condition o f the
State banks in Michigan and New Jersey. The Michigan
statement, issued by the Commissioner of Banking, covers
the results for all the banks in the State at the close of busi
ness on Tuesday, October 2, 1894, and it indicates that there is
a steady, though not rapid, improvement in progress. Since
the date of the previous report (July 18) there has been no
increase in the number of institutions, which was then 168
(164 banks and 4 trust companies), but there has been a gain
in the total of loans of over a quarter of a million dollars, and
the aggregate deposits (including savings deposits) have risen
nearly a million dollars. Contrasted with the corresponding
date in 1893 loans show an excess of $223,781; com
mercial deposits have increased
more
than four
hundred and fifty thousand dollars, and savings deposits
exhibit an excess of almost a million and a-half. The hold
ings of gold, silver and bank notes have decreased in the ag
gregate $621,759 but the net increase in amount due from
banks and bankers is $1,227,819. Instituting comparison with
September 30, 1892, we find that the number of banks has in
creased twenty-nine, but that about all the other important
items are less than they were at that time. It should be re
membered, however, that this September, 1892, exhibit was
one of the most favorable made by the Michigan banks. Com
pared with 1891 the current year’s figures are quite favorable.
The following compilation gives the results for about the same
date in each of the last four years.
M IC H IG A N .
N u m b e r .................................
Oct. 2
1894.
168
Loans and discounts.............. $33,857,354
Overdrafts................................
215,444
Stocks, bonds, &c................. i.. 25,997,223
Due from reserve agents........
8,849,251
Due from banks and bankers.
392,919
Banking house, turn, and fix..
1,661,761
Other real est. & mort. owned.
680,765
Gold coin and certificates......
1,634,170
Silver coin and certificates....
260,147
U. S. and national bank notes.
1,967,723
Bxch’gs for Clearing H ouse...
330,067
Current exp. and taxes paid..
316,570
Interest paid..............................
163,512
Other resources........................
264,406
T ota l.................................... $76,591,312
Oct. 3,
1893.
159
$33,633,573
163,683
24,797,167
6,825,308
506,208
1,494,946
561,234
1,728,852
209,315
2,485,632
304,445
260,552
218,168
373,107
Sept. 30,
1892.
139
Sept. 25.
1891.
121
$37,320,146 $30,372,704
205,941
196,631
25,708,761
20,889,392
10,855,863
6,997,369
650,769
443,039
1,250,621
907,213
671,716
, 341.021
1,087,670
737,514
255,125
207,043
2,179,484
1,000,727
350,948
150,85i
252,468
211.398
149,008
87,259
271,843
277,500
Total
$76,591,312
$12,102,955 $10,944,410
4,610,277
4,139,878
23,173
7,773
14,691,013 18,132,327
40,046,213 45,830,798
1,183,704
1,950,080
973,855
208,101
...........
...........
$73,631,190
$81,213,427
$9,212,900
3,565,327
2,547
11,337,727
37,078,546
1,615,949
556,720
56,185
$63,425,801
»“ Other deposits” incl. savings deposits, which on Oct. 2, ’94, were $34,673,670
The statement of New Jersey banks, furnished by the De
partment of Banking and Insurance of that State, relates to
the condition of the institutions on September 29, 1894. W e
have not at hand the results for the corresponding date in
previous years, so make comparison with the returns as given
at the close of each year. It will be noticed that there is a
small loss in loans since December 31, 1893, but that the volume of deposits has increased. Contrasted with 1892 there
is naturally some decrease in all the more important items,
but compared with 1891, notwithstanding a decrease of one
in number of banks, loans and deposits are greater. The
figures for September 29,1894* compare as follows with those
for December 31 in each of the three preceding years :
Sept. 29,
Dec. 31,
Dec. 31,
Dec. 31,
Loans and discounts................ $6,951,356
Overdrafts.................................
19.022
Stocks, bonds, &o....................
887,917
Due from banks and bankers.
1,397,219
Baking house, fum .& fixtures
243,675
Other real estate & mort. own.
184,641
Cash on hand............................
571,347
Current exp. and taxes pa id ..
38,267
50,740
Other resources........................
$7,174,269
13,280
902,274
958,256
239,377
138,053
555,923
24,692
54,164
$8,434,801
6.388
960,836
1,159,531
222.747
138,760
524,400
8.389
80,108
$6,794,049
10-,670
562,723
1,067.187
215,897
71,163
479,244
19,284
94,713
T o ta l................................... $10,324,184
L iabilitiesCapital stock paid in................ $1,682,860
Surplus and undivided profits
1,138,054
Dividends unpaid....................
. 3,050
Deposits ....................................
7,171,368
Due to banks and bankers, . . .
2<'0,541
123.685
Notes and bills p a y a b le ........
4,928
Other liabilities......................
$10,060,288
$11,536,010
$9,472,935
$1,680,460
1,126,356
19,449
6,667,745
267,539
298,357
382
$1,780,460
1,097,012
191i6
8,089.408
282.405
267,609
$1,735 850
1,01',«26
13.701
6,3 1,477
250,483
124,570
2,233
$10,000,288 $11,536,010
$9,472,935
NEW JE R SE Y .
N um ber......................................
Resources—
Total.......................
1894.
21
$10,324,184
New Y ork P roduce E xchange A nnual R eport.—
This useful annual volume has just been issued. It con
tains besides the list of members, the by-laws of the Exchange,
the rules regulating the different trades, and other like infor
mation, the usual annual statistics for the calendar year,
prepared by Mr. J. C. Brown, the statistician of the Exchange. •
The latter are in the customary complete form and very
convenient for reference,
$73,631,190 $81,213,427 $63,425,801
Liabilities—
Capital stock paid i n ........ .
$12,595,180
Surplus and undivided profits.
4,811,691
Dividends u n p a id ....................
7,546
Individual d eposits................. 15,145,579
Other deposits* ...................... 41,495,138
Due to banks and bankers......
1,866,539
Notes and bills payable...........
565,627
Other liabilities........................
104,012
W e have received so many inquiries concerning the law
enacted at the late session of Congress, subjecting United
States legal-tender and other notes to taxation under State
laws, that we print below the text of the new statute. Previ
ously United States notes had been exempt under Section
3,701 of the Revised Statutes, which reads—“ All stocks, bonds,
Treasury notes, and other obligations of the United States,
shall be exempt from taxation by or under State or municipal
or local authority.” This it will be seen was a very broad pro
vision, and as the personal property tax, as we all know, is
evaded wherever possible, the statute referred to furnished
an easy means of evasion, and a very convenient one too,
Knowing the advantage to be gained thereby, corporations
and individuals took particular pains to secure and hold large
amounts of the notes at the taxing periods, converting other
property temporarily into that form, if necessary. Congress
has now changed the law and made the notes specifically sub
ject to taxation. Here is the A ct in full.
Be it enacted by the Senate and House o f Representatives o f
the United States o f America in Congress assembled, That
circulating notes of national banking associations and
United States legal-tender notes, and other notes and cer
tificates of the United States payable on demand and circu
lating, or intended to circulate, as currency, and gold, silver*
or other coin, shall be subject to taxation as money on hand
or on deposit under the laws of any State or Territory ; pro
vided that any such taxation shall be exercised in the same
manner and at the same rate that any such State or Territory
shall tax money or currency circulating as money within its
jurisdiction.
Section 2.—That the provisions of this Act shall not be
deemed or held to change existing laws in respacb of the tax
ation of National banking associations.
Approved August 15th, 1894.
1893.
21
1892.
22
1891.
22
§ & 0 ii£ t a r b I
[Prom our ow n correspondent.]
L ondon, Oct. 13, 1894.
The money market continues as stagnant as ever. The rate1
of discount for 3 months’ bank bills is very little better than
per cent, and bankers often find it difficult to lend from
day to day at
Per cent. At the fortnightly settlement on
the Stock Exchange, which began on Tuesday morning, the
“ bull” account was found to have been reduced, and the
demand for loans was very small. Borrowers obtained all
they required at from 1% to 1% per cent. Gold is coming in
from abroad in very large amounts, and it is believed that the
German demand has now stopped, while there are expectations
here that shipments of the metal from New York will soon
begin again. The Bank of England holds not far short of 37
millions sterling in gold and the reserve exceeds 27^ milions sterling. There is every probability, therefore, that
money will continue abundant and cheap for many months
to come. There is as yet no sign of improvement in the for
eign trade but the home trade is slowly expanding. It is
quite true that bills are not increasing in volume ; but bankers
report a much more confident feeling than for a long time
past, with expansion in some directions.
The silver market is more active, yet the price does not rise
much. During the week there has been a much better
demand for China, but there is little willingness to pay much
more than 29d. per ounce. On the other hand the supplies
from the United States are very large ; consequently the quo
tation has ranged from 29d. to 2934d. per ounce throughout
the week. The Chinese Government is negotiating in Londonfor a loan of 10 million taels, or, roughly, somewhat under a.
million and three-quarters sterling, but it desires to borrow
in silver. As far as can be made out there is no intention on
the part of the Chinese Government to take much silver ; most;
of the money, if it is raised, will probably be left in London.
THE CHRONICLE.
to pay for stores and materials required to carry on the war.
But at the same time China is unwilling to undertake to pay
interest and principal in gold. There is a disinclination here
to agree to this condition, for a Chinese silver security would
hardly be in much favor. Still, it is expected that an arrange
ment will be arrived at. Japan, on the other hand, is not
borrowing in Europe. It has decided to raise another internal
loan of 50 millions of dollars. Upon the whole the expecta
tion now is that if the war goes on there will be a moderate
demand from China for silver with a very small demand from
Japan, but that the exports to the Far East will not be at all
as large as recently was anticipated.
The India Council continues to sell freely. On Wednesday
it offered for tender as usual 40 lakhs, and the applications
were for over 182 lakhs. It sold the whole amount offered at
a little under Is, l% d. per rupee. The impression here at
present is that the Indian exchanges will now slowly rise.
W e are now very near the time when the exports become large;
but whether they will be on the scale of former years is
doubted, partly because of the high exchange and partly
because of the low prices in Europe of Indian commodities.
Still, it* is expected that for five or six months at all events
the Council will be able to sell on a large scale and to get
tolerably good prices. But everything points to a consider
able deficit at the end of the financial year. In the Budget it
was estimated that the Council would be able to sell at an
average of Is, 2d. per rupee; but it has not been able to obtain
that price up to the present.
The stock markets are all quiet, though there is a somewhat
better feeling. For four or five days after the scare last week
quotations dropped in every department and there was much
unwillingness to buy. For the last couple of days, however,
there has been a considerable recovery. In Paris more par
ticularly there has been improvement, the great capitalists
there refusing to believe that the Czar’s illness is so serious as
is generally reported. Here the impression is that he may
live for a couple of years but that the disease will prove fatal
sooner or later. In Paris, too, the idea of a quarrel with this
country is pooh-poohed by the most influential people. The
more respectable newspapers are doing their utmost to bring
about a better understanding, and all political parties recog
nize the importance of doing everything requisite to avoid a
quarrel. Negotiations are going on between the Great Powers
for the purpose of securing united action in the Far
East, and the general belief is that
an arrange
ment will be arrived at. The war, however, is causing
much anxiety in political circles as well as in the city.
| Still there is undoubtedly a better feeling than a week ago.
British Government securities and British railway stocks had
a sharp fall at the end of last week, which continued at the
beginning of this week; but there has been a good deal of
investment since and most of the fall has been recovered.
There is very little doing in the American department, owing
to the fear that gold shipments from New York may begin
again. Nor has there been much business in the international
market, although Paris has been buying Russian and Spanish
stocks more particularly. It is said that a powerful syndi
cate has been formed in Paris to prepare that market for a
Spanish loan. The Spanish Congress, however, will not meet
for some time yet, and when it has come together it will be
necessary to get authority for the Government to borrow.
No loan can be negotiated, therefore, for the time being; and
it is not thought likely that a loan would be very successful
in Paris unless concessions are made to the railway com
panies in which French investors are so largely interested,
and there is a very strong feeling in Spain against making
such concessions.
The most active department here this week has been the
South African. Almost all gold shares have risen,and there has
been some improvement likewise in diamond and land shares.
The news from the gold fields continues most encouraging,
and the best estimate now is that the out-turn in the current
year will reach nearly eight millions sterling. The issuing of
Western Australian gold shares continues, but there is not
much inclination amoDgst investors to subscribe. That the
Western Australian gold fields are rich is not doubted, but
there has not yet been sufficient time for prospecting and
development, and therefore nobody can know whether the
special properties offered are worth the prices asked for them,
n Paris opinion is becoming more favorable to both Italy
and Spain, and it is now thought probable that in both coun-
[VOL. LIX.
tries the worst of the crisis is over. There are signs of trade
improvement in Germany as well as in this country, and Ithe
reports from Russia continue favorable. In Argentina the
spring is most beautiful and all crops promise well.
The rates for money have been as follow s:
London.
Bank Bate.
726
Sept.
“
“
“
Oct.
1
2
2
2
2
2
2
7
14
21
28
5
12
Interest alii wed
for depositshy
Open Market Bates.
Bank Bills.
Trade Bills.
Disc’ t B ’se.
Joint
'Éhree Four
Six
Three Four
Six
Stock At 7 to 1 "
Months Months Months Months Months\Months Banks. Gall. Days.
9-16 @ - H® - 15-16@1
k@9-16 9-16©% 1516©
k@9-16 9-16@% %-15-16
%@ — %@ % 1 @ —
9-16©— H® — 15-16@1
9-16@— %@ — 15-16(81
1
l k ® -| lk © 2
1 © - VA® — lk @ 2
1 © — Vi® — lk @ 2
l k @ - V i® - 1%@2
1M® - l k @ — 1%@2
Vi® - Vi®
k
k
k
k
k
m
H
k
k
k
k
k
k
k
k
The Bank rate of discount and open market rates at the
chief Continental cities now and for the previous three weeks
have been as follows :
Oct. 12.
Interest at
Paris............ ...
Berlin................
Hamburg.........
Frankfort.........
Am sterdam .. ..
Brussels ........
V ienna...........
8t. Petersburg.
Madrid............ .
Copenhagen...
Sept. 28.
Oct. 5.
Bank Oper Bank- Op«».
Bate. Markt t B ate■ Marke
2k
3
3
3
2k
3
4
6
5
3
IH
1H
m
m
m
2k
3
3
3
2k
3
4
6
5
3
i%
i%
i%
m
ik
1%
3k
5
5
3
Sept. 21.
Bank Open Bank Open
Bate. Market Bate. Market
Vi
2k
2k
Vi "
3
3
3
2k
3
4
6
5
3
1%
3%
6
5
3
3
3
3
2k
3
4
6
5
3
2k
2k
2k
m
m
3k
6
5
3
2
2
2k
Ik
i%
3%
6
5
3
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 :
1894.
Oct. 10.
Circulation....................................
Public d e p o sits...........................
Other deposits..............................
Government se cu ritie s..............
Other securities .........................
Reserve o f notes and coin..........
Coin & bullion, both departm’ts
Prop, reserve to liabilities, .p. c.
Bank rate. . . . ............... per cent.
Consols, 2% p e rce n t........ ..........
Silver ............................................
Clearing-House returns.............
1892.
Oct. 12.
1893.
Oct. 11.
1891.
Oct. 14.
£
£
£
£
26,006,545 26,405,260 26,966.860 25,871,92
4,528,330
3,592,609
3,623,022
5,269,427
39,337,437 32,314,292 32,580,892 32,304,673
15,936,964 12,887,598 15,457,055 12,662,04 2
18,850,863 24,418,318 23,939,950 27,396,12 8
27,637,172 16,494,589 15,568,654 13,760,701
36,843,717 26,449,849 26,085,514 23,182,621
38 1-16
41%
45 11-16
61%
3
2
3
2
94%
97 5-16
101%
98k
44%d.
38%d.
33%d.
29 5-16d.
110,963,000 111,212,000 103,408,000 104,621,000
Messrs. Pixley & Abell write
October 12:
as follows under date of
G o ld —Slight fluctuations have taken place during the week, and all
the arrivals have been taken for the Continent. The Bank has sold
* 1 3 6 ,0 0 0 , a llo t w hich has gone in bars to the Continent. *33,000
has been received. Arrivals: China, *101,000; Australia, *55,000;
India, *76 ,000 ; South Africa, *95,000. Total, £ 3 2 7 ,0 0 0 .
Silver.—When we last w rote silver was already recovering from the
fall of last week, and with further im provem ent in the Eastern E x
change, as w ell as large Eastern orders, 29^16d. was reached on the 8th.
A t this point heavy sales from America took place and large amounts
were sold at constantly reduced figures. These sales have continued,
and. to-day, at 29ii6d. Am erica has again sold freely There are orders,
how ever, which prevent the market from falling m uch and India seems
a likely purchaser. Shipments: Bom bay, *5,0 00; H ong K ong, *105,669; Japan, *40,OOQ. Arrivals: New Y ork, *116,000; South A frica,
M exican Dollars—Last business in these coin was at 2938d. and the
m arket is now quite nom inal. The recent prices are som ewhat pre
judiced by the the weakness in silver. Shipments to the Straits, *84 ,600. Arrivals from New York, *66,000.
The quotations for bullion are reported as follows ;
GOLD.
London Standard.
Bar g o ld ,fin e ....o s.
Bar gold, parting.oz
Span, doubloons, oz.
C. S. gold c o i n . . .oz.
German gold coin.oz
Oct. 12.
Oct. 5.
s.
d.
s.
d.
77
77
73
76
76
10
10k
9
4k
4k
77
77
73
76
76
10
10k
9
4k
4k
SILVER.
London Standard.
Oct. 12.
Oct. 5.
d.
d.
Bar silver, fine. ..o». 29 1-16
Bar silver, contain
ing 5 grs. gold ..oz. 29 7-16
Cake silver..........oz. 31%
Mexican dollar s..oz. 29%
29k
29%
31 9-16
The following shows the imports of cereal produce into the
United Kingdom during the first six weeks of the new season
compared with previous seasons:
IMPORTS.
Im ports o f w heat.cwt.
B ariev____. . . . . . ____
O ats.'............................
P e a s ............................
Beans...........................
Indian Corn................
F lou r_______ . . . . . . . .
1894.
9,519,491
3,811,682
1,921,915
207,969
578,049
3,041,337
2,492,340
1893.
8,402,125
3,941,301
1,658,080
235,269
654,284
3,422,937
3,174,917
1892.
8,822,107
3.184.580
1.628.581
196,139
805,696
4,855,537
2,386,873
1891.
9.504.005
3,064,491
1,692,614
139,403
512,287
2,099,895
1.822.304
Supplies available for consumption (exclusive of stocks on
September 1):
1894.
W heat................... owt. 9,519,491
Im ports o f flour......... 2,492,340
Saies o f hom e-grown. 2,463,307
1893.
8,402,125
3,174,917
3,126,171
1892.
8,822,107
2,386,873
2,782,255
1891.
9.504.005
1.822.305
3,387,063
T otal...................... 14,475,138 14,703,213 13,991,235 14,713,373
1891.
1892.
1893.
1894.
34s. lO d .
27s. 9d.
27s. lOd.
A ver, price wheat w eek .l8 s. 2d.
37s. 2 d .
28s. 7d.
26s. 6d.
A verage price, season..20s. 2d.
O
THE
27, 1894.1
ctober
CHRONICLE.
727
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom :
This week.
Last week.
w heat..................... qrs. 1,742,000 1,833,000
Flour, equal to
qrs.
305,000
299,000
289,000
346,000
Maize.................. qrs.
P ia a u e m l
Of the above imports for the week in 1894 $10,405 were
American gold coin. Of the exports during the same time,
1892
1,579,000 $1,001,200 were American gold coin.
1893.
2,518,000
298,000
305,000
353,000
372,000
l i r n e t t - P e r C a b le .
The daily closing quotations for securities, &c., at London
are reported by cable a3 follows for the week ending Oct. 26 :
London.
Sat.
Mon.
Silver, per o z ................. 2 8 i5i6
Consols, new, 2 3* p. cts. 101%
For account................. 101%
Fr’ch rentes (in Paris)fr. 01-67%
U. S. 4s of 1 9 0 7 ..............
5%
Atch. Top. & S. Fe. com.
Canadian P acific............ 66%
Chic. Milw. & St. P a u l.. 62%
Illinois C entral.............. 94%
138%
Louisville & N ashville.. 55%
Mexican Central 4 s ....... 59
N. Y. Central & Hudson 102
N. Y. Lake Erie & West. 14%
2d consols..................... 73%
Norfolk & W est’n, p r e f. 23
Northern Pacific, p re f.. 18%
Pennsylvania................. 52%
Phil. & Read., per share
9%
Union Pacific........ . ........ 12
Wabash, p ref.................
14%
Tues.
Wed.
Thurs.
Fri.
29i516 29%6 29%
29%
29%
101»16 101% 101% 101%
101%
101% 101%
101% 101% 101%
101-65 01-57% 101-35 101-35 01-32%
5%
67%
62%
94%
138%
55%
58%
102
14%
74
23
18%
52%
9%
12%
14%
5%
667s
62%
94
138%
55
59
101%
14
73%
22%
18%
52%
9%
12
14%
5%
66%
62%
93%
138
54%
59%
101%
13%
73
22%
16%
5238
9%
11%
14%
5%
66%
62%
93%
138%
54%
59%
101%
13%
73
22%
17%
52%
9
11%
14%
© u m u x e r u ta la u a :
5%
66%
62%
92%
138
55%
59%
101%
13%
73
22%
17%
52%
8%
11%
14%
U te a r s
N a t i o n a l B a n k s . —The following information regarding
national banks is from the Treasury Department:
Messrs. Winslow, Lanier & Co. will pay dividends on a
number of securities, lists of which are printed in another
column.
—Messrs. Blake Bros. & Co. offer Hecker-Jones-Jewell
Milling Company first mortgage 6 per cent gold bonds in our
advertising columns to-day. The bonds run until 1922, redeemable after’ September, 1902, at 110 and interest, and are
offered at 106 and interest, yielding over 5% per cent.
City Railroad Securities—Brokers’ Quotations,
Bid.
Atlan. A ve., B ’k lyn—
Con. 5s, g., 1 93 1 ...A & O
Gen. M. 5s, 1909... A&O
Im pt. 5s, g., 1934...J& J
Bleek. St. & F ui. F .—Stk.
Ist m ort., 7s, 1900. J& J
B’ way & 7tn A ve .—Stock.
Ist mort., 5s, 1904. J&D
2d m ort., 5s, 1914..J& J
B ’ way Ist, 5s, guar,19‘24
2d 5s, Int. as rent’1.1905
Consol 58, 1943....J & J
B rooklyn City—N ew stk.
Oonsol. 5s, 1941. ...J & J
B k'yn . Crosst’n 5 s .l9 0 8
B klyn Q’nsC o.& Sub.lst
Brooklyn Traction............
Central Crosstown—S tk ..
Ist mort., 6s, 1922.M &N
Cen. Pk. N.& E .R iv .—Stk.
Consol. 7s, 1 9 0 2 ....J& D
Chrlst’p’r & lOth St.—Stk.
I s t mort., 1 89 8 ___ A& O
CORPORATE EXISTENCE EXTENDED.
2,205.—The Second National Bank o f Monmouth, Illinois, until O ctober
2 0 ,1 9 1 4 .
LIQUIDATION.
3,921.—The First National Bank o f Gibbon, Nebraska, has gone into
voluntary liquidation, by resolution o f its stockholders dated
September 2 0 ,1 8 9 4 , to take effect O ctober l o , 1894.
Imports and E xports for the W eek .—The following ar e
the imports at New York for the week ending for dry goods
Oct. 18 and for the week ending for general merchandise
Oct. 19 ; also totals since the beginning of the first week iD
January.
For Week.
|
T o ta l..........
Since Jan. 1.
Dry G o o d s...
Gen’l mer’dise.
1891.
1892.
1893.
1894.
$1,777,694
7,584,558
$3,061.578
7,460,374
$1,340,708
6,506,238
$9,362,252
$10,521,952
$7,846,946
$7,827,962
$96,470,779 $104,812,165 $107,052,450
327,960,397 358,887,513 351,267,356
$71,415,088
278,337,015
$1,863,101
5,964,861
Total 42 weeks. $424,431,176 $463,699,678 $458,319,806 $349,752,103
The imports of dry goods for one week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Oct. 23 and from January 1 to date :
EXPORTS FROM NEW YORK FOR THE WEEK.
For the w eek ..
Prev. reported.
1891.
1892.
1893,
1894,
$8,393,648
292,622,159
$6,723,035
307,150,799
$8,055,965
295,651,296
$6,627,094
288,349,592
Total 42 weeks. $301,015,807 $313,873,834 $303,707,261 $294,976,686
Tne following table shows the exports and imports of specie
at the port of New York for the week ending Oct. 20 and since
January 1,1894, and for the corresponding periods in 1893
and 1892:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Bold.
Exports.
Week.
Since Jan. 1.
Great B ritain............
F rance.........................
G erm any.....................
West Indies................
M e x ic o .......................
South A m erica..........
A ll other coun tries..
$ ............ $15,438,800
23,763,999
1,007,000 32,607,000
4,400 12,064,840
47,205
536,867
856,635
T otal 18 94..........
T otal 1893...........
Total 1892...........
$1,011,400 $85,315,346
2,819 70,151,356
256,500 59,043,353
Exports.
Silver.
Week.
Since Jan. 1.
Great B ritain......... .
F ra n c e ........................
G erm any................. .
W est Indies................
M e x ic o ........................
South A m erica...........
A ll other coun tries..
$575,500 $26,360,038
394,000
268,100
185,920
53,297
19,000
741,051
127,102
T otal 1894...........
Total 18 93..........
T otal 1892...........
$594,500 $28,129,508
688,673 25,738,495
292,775 17,230,719
Imports,
Week.
9 ............
285,618
23,084
11,030
10,850
Since Jan. 1.
$1,688,902
6,232,886
1,683,367
4,126,610
67,048
958,082
139,138
G A S C O M P A N IE S ,
B rooklyn G as-Light.........
Central.................................
Consumers’ (Jersev Citvl.
B onds...............................
Citizens’ (B ro o k ly n )........
Jersey C ity & H oboken..
Metropolitan—B onds........
Mutual (N. Y ....................
Nassau (B rook lyn )..........
Scrip........................ .......
N . Y . & East R iv. 1st 5s..
$ ............
¡31,286
5,544
4,222
$41,052
11,222
191.258
$1,440,487
3,006,860
2,322,079
42d & Or. St. Fer.—Stock
42d St.& Man.& S tN .A v .
1st m ort. 6s, 1910..M & S
2d mort, incom e 6s.J& J
......
H. W . St. & P, Fer.—Stk.
1st mort., 7s, 1894. .J& J
110%110% L ong Island T raction.......
166 163
Metropolitan T ra ction ___
112 114 Ninth A v e n u e.......... .......
105
Second Avenue—S to c k ...
1st mort., 5s, 1909.M&W
14
15%
Debenture 5s, 190a, J& J
165
Sixth A venu e—S tock.
119
160 . . . . . .
1st m ort., 5s, 1937.. j & J
111
Twenty-Third St.—Stock.
146 . . . . . .
Deb. 5s, 1 9 0 3 ....
. .. .
105
U nion R y—1st 5s, 1 9 4 2 ...
W estchester, lst,gu..5s.
30.)
47
110
104
.....
29
110
183
106
103
107
105
.....
185
.....
Bid. Ask.
Ill
105
59
85
60
180
108
147
170
113
81
82
62
L50
8 M erchants’ E x. Nat. B k . . l l l
5 E quitable Gas-Light C o..170
12 Mech’cs’ & Traders’ B k ..l4 9
50 National Park B a n k .......285
138
101
52
112
53
20Ó
101
12% Ï2M
1 4% 1153?
145
137 139%
102
100
200
1,00 x
118% 119%
290
100
G A S C O M P A N IE S .
People’s (B r o o k ly n )........
Peoples’ (Jersey C ity)___
M etropolitan (B rooklyn ).
W illiam sburs:____ ..
1st 6s....................... .......
Fulton MunielDal_______
Bonds, 6 s__________
E quitable..........................
Bonds, 6s............. .......
Standard n ref...............
Common..................
Bid. Ask.
75
170
145
175
105
150
105
170
107
82
30
155 '
175
109
86
35
Bonds.
$5,000 N. Y. P rov. & Boston
RR. Co. 1st 7s, 1899............ 7 5
By Messrs. Adrian H. Muller & Son :
Shares.
100 B ullion M ining Co. of
Montana, $5 each............... * 1
2,600 Silver Cliff & Gold Rook
Min. Co. o f Col., $10 each..$10
1 Memb. N. Y. Society Lib
rary, $68 past annual
dues unpaid..................... $26
1 Publication Fund o f the
N.Y. H istorical Society.$4
3 Bank of N orth Am erica. 160
75 E agle Fire C o................... 220
100 P eter Cooper Fire Ins.Co.137
67 Litho-Carbon R ubber Co. 8
12 M ech’ cs’ & Traders’ B k. 150
3 B ’k o f New Y ork, N.B. A.233%
20 Chatham Nat. B a n k ....... 365
1,000 Twin City Rap. Transit
( Minneapolis & St.Paul) 11
100 N. Y. Equitable Gas C o ..l7 0 14
33 Standard Oil T rust...........169%
60 Nat. Citizens’ B a n k ....... 141
50 Greenwich Ins. C o ....... 121%
50 Toledo Brew. & Malt.Co. 31
200 G raceland Im prov’t Co.,
*50 each ............... ...$ 2 5 1 ot.
627 Marshall Coal Co..........)
$27 50 Marshall Coal Co., £$26
Stock scrip .........................}
12.000 Marshall Coal Co. 1
1st 6s, 1920 .................. SBiS _
$ 5 5 7 Marshall Coal Co., f $102 50
6 p. c. Mort. Bond Scrip J
Trustees’ Certs, representing the
beneficial interest in 11,3313,
shares o f stock o f Lake Superior
Consol. Iron Mines......... $25,000
Bonds.
$2,500 Long Island City 5s,
fund, debt, 19o3, A&O. 102 & int.
$8,000 G. H. Hammond Beef
Co. 6s, 1910, J& J............ .
80
$1,000 Lehigh & Wilkesbarre
Coal 7s, 1900. M., J., 8. & D. 110%
$5,000 R. J. W addell Invest
m ent Co. o f Ottawa, Kan.,
6s, “ Series H ,” 1900, M.&S. 9 3
$4,000 Cape F. & Yadkin Yal. •
R y. Co. 6s, cons., Oot., ’ 93,
coupons o n ...........................*25
16.000 Salisbury W. W. Co.
6s, 1907, M&S, M a rch ,’ 9 4 ,
coupons on ............................. 25
$10,0u0 Long lei. Trac. Co. &
B ’klyn Heights RR. Co. col.
trust 6s, 1897, F & A ........... 83%
$23,000 The Town o f Graves
end 5s, 40-year, local im
provem ent loan, J & J .;....... 80
‘SmxhiuQ und JfiimixumX.
S a m u el D. D a v is & üo.,
BANKERS,
Since Jan. 1,
$13,209
100,778
6,504
613,307
256,122
420,001
30,586
136
110
100
250
Auction Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction ;
By Messrs. R. Y. Harnett & C o.:
$330,582 $14,896,033
104,034 57,071,449
252,530
7,283,984
Imports.
Week.
Bid. Ask.
D. D. E. B. & B at’V—S tk ..
1st, gold, 5s, 1932..J& D
S c r ip ................................
Eighth A venue—S tock___
N. T. and Brooklyn Glas Securities—Brokers’ Quotations.
FOREIGN IMPORTS AT NEW YORK.
Dry G oods.......
Gen 1 mer’ dise.
Ask.
N O . 4 0 W A L L S T ., N E W
Samuel D. Davis .
J J IIK .
Chas. B, V an Nostrand )
S pen cer T r a s k & Co.,
10
W ALL
BAN KERS,
STREET,
NEW Y O R K *
S ta te an d J a m e s S tr e e ts, A lb a n y .
Bonds and Stocks Bought and Sold on Commission. Dealers in State, City and
Railroad Bonds. Correspondence invited.
THE CHRONICLE.
;
To-day’s actual rates of exchange were as follows : Bank
ers’ sixty days sterling, 4 86%@4 87 ; demand, 4 87
4 87% ; cables, 4 87%@4 88.
2W
Posted rates of leading bankers are as follow s:
Ip a w k e rs’ (S a d d le .
D IV ID E N D S .
When
Per
Cent, Payable.
Name o f Company.
R a ilr o a d s .
Cin. Ham. & Dayton com. (quar.)
Cln. Sandusky & Cleveland pref.
R an. C. St. L. & Ch.pf.gu.(quar.)
R an k s.
A m erican E xchange N ation a l...
Chemical National (bi-m onthly).
Fourteenth S treet.............. .........
G erm ania.......... .............................
G reenwich....................................
Nassau.......... ...................................
N ational C ity..................................
T r u s t C o m p a n ie s .
Central (bi-monthly).....................
Farmers’ Loan & Trust (quar). . .
do
do
(extra )..
K ings County, Brooklyn (quar.).
m is c e lla n e o u s .
Am . Soda Fount, com. (q u a r.). . .
do
do
l s t p f . (quar.)..
do
do
2d pf. (quar.)..
Columb. St. R y. o f Columbus, O.
B rooklyn City & N ew tow n RR.
Brooklyn, (quar.).................... . .
B rooklyn Gas Light o f Brooklyn.
N. E. Telephone & releg. (quar.)
Nov.
Nov.
Nov.
3 Oct. 23
1 Oct. 23
1
3*2
25
3
5
3
4
5
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
1
1
1
1
1
1
1
5
Nov.
Nov.
2 • Nov.
! 1
2*3)
l* a [ Nov.
2 )
1*2
Nov.
2*2
2
1
Nov.
Nov.
Nov.
October 26.
Books Closed.
(Days inclusive.)
1*4
3
1*2
31
24
1
, 1
1
20
24
21
24
31
1 Oct. 17
1 Oct. 2 1
1 Oct. 27
31
1
1
5 Oct. 26
1 Oct. 2 0
5 Oct. 26
15
to
W A L L . S T R E E T . F R I D A Y , O C T O B E R 2 6 , 1 8 9 4 —5 P . M .
DECREASES.
T exas & P acific.. ..................$17,400 St. P aul............................... $247,600
St. Louis Southwestern — 31,300 W abash............................... 56,400
1,200
D en ver & Rio G ................... 15,900 Peoria D. & Evans...........
9,900
Internatl. & Great N orth ... 19,300 N. Y . Ontario & W estern.
M issouri P a cific.................... 21,000
N orthern P acific................. 68,100
Canadian P acific................. 3,000
Chesapeake & Ohio.................. 1,200
The prevailing low rates o f interest and large surplus of
funds remaining unemployed at this centre have made it
desirble for our city banks to reduce the rate of interest al
lowed out-of-town correspondents to one per cent. There will
probably be no concerted action, but the course has been
decided upon by several of the leading banks, some of which
have already notified their correspondents of the proposed
reduction.
The open market rate for call loans during the week on
stock and bond collaterals have ranged between % of 1 per
cent and 1 per cent. To-day rates on call were %@1 per cent.
Prime commercial paper is quoted at 3% to 3 per cent.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £102,266, and the percentage
of reserve to liabilities was 63'08, against 61*73 last week; the
discount rate remains unchanged at 2 per cent. The Bank of
France shows an increase of 2,595,000 francs in gold and a
decrease of 1,798,000 francs in silver.
The New York City Clearing-House banks in their statement
of October 20 showed an increase in the reserve held of
$2,628,300 and a surplus over the required reserve of $62,513,675, against $60,847,325 the previous week.
MS
L
1894.
Oct. 20.
Differen'sffom
Prev. week.
1893.
Oct. 21.
1892.
Oct. 22.
$
61,622,700
71,259,600
500.772.500
11,723,000
594.706,900
93,937,900
117.252.500
211,190,400
148,676,725
$
I n c . 604.300
I n c . 169,300
I n c .3,847,800
In c .1,047,000
I n c .1,581,300
I n c .2,628,300
I n c . 961,950
$
60,422,700
71,594.800
394,039,700
14.690.500
421,686,9^0
95.718.500
52,344,000
148,062,500
105,421,725
$
60,422,700
68,233,500
452,333,900
5,611.400
460,885,100
70,649,300
46,904,400
115,553,700
115,221,275
62,513,675 I n c .1.666 350
42,640,775'
2,332.425
BiOtf %,
C apital.................
S u rp lu s...............
Loans & disc’nts.
C ircu la tion ___
N et deposits.......
S pecie...................
L egal tenders—
R eserve held.......
L egal re s e r v e ....
Surplus reserve
Foreign Exchange.—The market for sterling and Conti
nental exchanges ruled firm and steady during the early part
of the week at about last week’s closing prices. The liberal
supply of commercial bills from the interior have been readily
absorbed by remitters, chiefly importers-of coffee, sugar and
dry goods, with some demand from bankers. The tone was
stronger on Tuesday but easier on Thursday, with quotations
slightly lower, and the close is dull and fairly steady, with a
tendency to weakness.
4
4
4
5
Demand.
87*s®4 89 4 88*2@4 89
86*4®4 8 6 *2
85% ®4 8 6
17*2®5 167« 5 15%®5 15
403j6®40*4 I 4038@407,e
95*fl,g>9558 I 95% ® 957g
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-dav: Savannah, buying
3-16 discount, selling 1-16 discount; Charleston, buying %
discount, selling par; New Orleans, bank par ; commercial
$1 25 discount; Chicago, 25c. per $1,600 discount; St. Louis
75e. per $1,000 discount.
United States Bonds.—Only limited pales of Government
bonds are reported at the Board, including $10,000 5s, coupon,
at 120.
* P rice h id ; no sale. Interest
Periods
4
The Money Market and Financial Situation.—The volume
o f business at the Stock Exchange has been exceptionally
light during the week and features of interest are lacking.
Among the events which have attracted more or less atten
tion on the Street may be mentioned the sale of $8,000,000
o f Wabash first mortgage gold bonds to a syndicate of lead
ing bankers. Some brokers report a good demand at the
p unter for desirable bonds, and orders have been placed for
favorite issues when they can be obtained at a fixed price.
It is encouraging to note that the September statement of
net earnings of the Pennsylvania’s eastern lines shows an in
crease, not only over last year but also over 1892. Of the
statements of twelve important systems for the third week in
October, as given below, only four show a decrease, and the
loss in those cases is accounted for mainly by the unusually
heavy World’s Fair traffic of last year.
F INCREASES.
Sixty Days.
Prime bankers’ sterling bills on L on d on ..
Prime com m ercial............ . . . . . . . . . . . . . . .
Documentary com m ercial........... .......
Paris bankers (fr a n c s ).................. .
Amsterdam (guilders) b a n k e r s ................
Frankfort or Brem en (relohmarks)b’nkers
Oct. 24
Oct.
Oct.
Oct.
Oct..
Oot.
[Vol. H X .
2 s ,....................... reg.
4s, 1 9 0 7 ... ......r e g .
4s, 19 07............ coup.
5s, 1904.............. reg.
5s, 1904....... ...c o u p .
6s, our’ey,’ 9 5 ....r e g .
6s, our’cy,’ 9 6 ....r e g .
6s, our’cÿ,’ 9 7 ....r e g .
6s, eur’cy ,’ 98___ reg.
6s, our’cy ,’ 9 9 ....r e g .
4s, (<iher.)1896..reg.
4s, (Cher.) 1 8 9 7 ..reg.
4 s, (Cher.) 1898 reg.
4s, (Cher.) 1 8 9 9 ..reg.
Q.-Meh.
Q.-Jan.
Q .-Jan .
<3.- Feb.
Q,.-Feb.
J. & J.
J. & J.
J. & J.
J. & J.
J. & Ò.
March.
March.
March.
M arch.
Oct.
20
Oct.
22.
Oct.
23.
* 96 * 96 * 96
*114% *114*4 *11438
*114*s *114*3 *114*«
*118*s *118% *118*3
120 * i 1978 *119%
*101 *101 *101
*104 *104 *104
*107 *107 *107
*110 *110 *110
*113 *113 *113
*103*3 *103*2 *103*«
*104*« *104*2 *104*2
*1053g *1053a *10538
*106*4 *106*4 *100*4
oct.
24.
to©
728
Oot.
26.
* 96 * 96 * 93
*1143g *114% *114%
*11478 *11478 115
*118*« *118*« *118%
*119% *119% *120
*101 *101 *101
*104 *104 *104
*107 *107 *107
*110 *110 *110
*113 *113 *113
*103*« *103*« *103*«
*104*2 *104*« *104%
*10538 *10538 *10538
*106*4 *10o*4 *106*4
Coins,—hollowing are current quotations m gold for coins:
Sovereigns...........$4 85
N apoleons........... 3 85
X X Reicbm arks 4 70
25 P e s e t a s ....... 4 75
Span. Doubloons. 15 55
Mex. D ou bloon s.15 55
Fine gold bars. .. par
® $ 4 90
® 3 90
® 4 80
® 4 85
@ 15 75
@ 15 75
@ *4 prem.
Fine silver b a rs.. — 64 @ — 64%
F ive f r a n c s . . . . . . . — 90 @ — 95
M exican dollars.. — 51*2® — 52*»
D o uncom ’c i a l ..------ @ — —
Peruvian s o ls ..... — 50 @ — 52
English silv er___ 4 80 @ 4 90
U.S. trade dollars — 55 @ — 65
State and Bailroad Bonds.—State bond issues have been
more prominent. Sales at the Board include $30,000 Vir
ginia 6s def. trust receipts, stamped, at 8 to 834! Virginia
fund, debt 2-3s of 1991 at 5834 to 58%; 153,000 Tenn. settl. 3s
at 78% to 79.
The market for railroad bonds has been relatively active and
strong through the week. The demand for first-class bonds
continues good and the prices of several issues are higher.
There is a considerable movement in Rock Island bonds at
advancing prices as a result of the settlement with the Minn.
& St. Louis, which puts about $4,000,000 of cash into the
treasury of the former company.
Phila. & Reading issues advanced early in the week, stimu
lated doubtless by the action of the Master in Chancery in
favoring the Olcott-Earle plan of reorganization, but were
weaker on Thursday because of the possible unfavorable
action of anthracite coal sales agents at their monthly meet
ing, and the genl. mort. 4s close at 77, 1st pref. incomes at
30%, 3d do. at 17%.
Northern Pacifies are weak in sympathy with the preferred
stock on the unfavorable bids for the $5,000,000 receivers
certificates. Coll, trust notes close at 7 7 ,1 st coup, at 113,
2d do. at 87, 5s at 27. Atchisons have been active and
steady; 1st 4s close at 66%, 2d 3-4s class A at 19%. Tex. &
Pac. issue? are strong, presumably on report of increased
earnings; 1st 5s close at 87, 2d incomes at 25%. Mo. K. &
Texas bonds are active and steady; 1st 4s close at 81%, 2d do.
at 42%. St. Louis & South westerns are strong; 1st 4s close at
59%, 2d do. at IS. Wabash bonds are active and notably
higher on account of the favorable sale of $8,000,000 of the
refunding issue, which will result in a saving to the company
of $180,000 annually in interest, and the 1st 5s close at 106%
against 105%, 2d at 71% against 67%. Union Elevated lsts
are weak, closing at 86.
Bailroad and Miscellaneous Stocks.—The stock market
has been dull and for the most part featureless during the
week. Among the exceptions may be mentioned Manhattan
Elevated, which declined from 108 at the close last week to104% on Tuesday, but has since received support, said to be by
a strong inside interest, and advanced to 107% on Thursday,
closing at 106.
Pacific Mail has been more prominent than usual and ad
vanced to 19% on Tuesday, the highest point reached this
year, on the report of a decrease in the floating indebtedness
of the company and a reduction of expenses under the present
management, closing at 18%. Northern Pacific preferred haa
been weak and lower, presumably because of the unfavorable
bids for the $5,000,000 receivers’ certificates, and clones at 17,
against 18 last week. Wabash preferred is stronger in sym
pathy with the bonds and for the same reason closing at 14%.
A raid on the coal stocks on Thursday resulted in a marked
decline in Del. Lack. & Western to 162%, Del. & Hud. Canal
to 126% and Central of N. J. to 104, followed by a reaction,
and the closing is at 162%, 126, 103% respectively. Thd
grangers have been prominent in the railroad list and gen
erally firm. St. Paul closes at 61%, Burlington & Quincy at
73% and RockTsland at 60%. Northwest has been weak
and lower on rumors of poor earnings and closes at 102%»
THE CHRONICLE.
OCTOBER 27, 1894. J
729
SEW ÎORK STOCK EXCHANGE—AO TIVE STOCKS fo r week eniing OOT. 2 6 , and since JAN. 1, 1 8 9 4 ,
H IG H E ST AND LOWEST PRICES.
Saturday,
O ct 20.
Monday,
Oct. 22.
Tuesday,
Oct. 23.
Wednesday,
Oct. 24.
Thursday,
Oct. 25.
Sales o.
Friday,
Oct. 26.
STOCKS.
the
Week,
Shares.
Range fo r year 1894.
Lowest.
Highest.
A c tiv e l i l t . S to c k e .
55fl
5%
5
5
5%
55s
5*4
5*8
5*4 Atchison Topeka & Santa F e.
5*4
6,441
5*4 5%
3 July 23 16 Mar. 14
*1
*1
*1
*1
*1
1*4
1*4
1*4 A tlantic & P a cific...............
1*4
1*4
1*4
*1
*2 Jan. 2
1% Mar. 28
70
69
*69
70
70
69
69 Baltimore & O h io ................
70
69
69*2 70
70
477 67 Jan. 2 81*2 Apr. 6
65*2 *65*8 65%
64*2 64*2 *64% 65*2 *64% 65*2 64% 64% Canadian P a c ific ................
*65
150 625g June 11 7 3 *2 Jan. 18
51
51*4 51*2 51*2 *50% 51*4
51*2 51*2
515« 51%
635 47 Jan. 3 53% Aug. 24
Canada Southern
107 107% 104 107
102% 105% Central o f New Jersey____
*107*2 HO *107*2 HO *108 110
6,037 102% Oct. 26 117% Mar. 8
18
18*4 18*2 18*4 18%
18*6 18*4 18*2 Chesapeake & O h io ............
18*4 18 78 18*2 18%
2,020
16 M ay 21 2 l 78 Aug. 31
145 146 *142 145 *142 145 '1 4 2 145 Chicago & A lt o n ................. .
145 145
*142 145
144 130 Feb. 12 142 Ju ly ft
74
73
73%
73
73*4 73
73% 74*4 73
73*2 73% 73% Chicago Burlington & Quincy 28,220 70 Aug. 7 84*8 Mar. 21
Chicago & Eastern Illin o is...
52 June 1 55 Feb. 27
Do
p ref.
93 M ay 23 9734 Sept. 12
605« 61
61
61*2 60% 6158 60*2 61
61% Chicago Milwaukee & St. Paul 61,310 54*4 Jan. 3 6738 Sept. 6
60*2 60%
61
119*2
11958
119% 119% 119% 119% *119*4 120
120 120*4
*119*3 11978
1,045 116 Jan. 2 123*3 Mar. 13
Do
p ref.
104*4 IO 453 103% 104*4 103% 103% 1035s 103% 1025ft 1035ft 102% 103% Chicago & N orthw estern....... 16,897 97 Jan. 3 1 1038 June 7
37 135*2Jan. 4 145 Apr. 9
Do
p ref.
60%
60
60
60% 61*4 Chicago R ook Island & Pacific 14,265 58*2 Oct. 11 723s Apr. 7
60*2 61
60*4 60*4 60%
60*2 61
*35
*35
36
36
35
355s 355fl *35
36
35
35
35% Chicago St. Paul Minn. <fc Om.
700 32*2 Jan. 3 413s Apr. 7
*112 114 *112 114 *112 114 *112 114 *112 114 *112 114 „
Do
p ref.
1093s Jan. 4 116 Apr. 16
39
89
*38*4 39*2 *38
39*2 385s 39
38
38*2 38
38*2 Cleve. Cincin. Chic. & St. L ...
2,341 31 Jan. 10 42 Afig. 2ft
Do
pref.
78 Jan, 18 8 8 M ay 12
*17% 18
17% 17%
17*8 17*8 17% 18
18
18*2 18*2 19 Columbus H ocking Val. <fe Tol
2,670 15% July 11 20 78 Mar. 31
*63
*63
*63
*63
*03
*63
Do
p ref.
57*s
M ay 23 6 6 Jan. 12
1323s 132% 1 3 1% 13 2
131% 131% 131*4 131*4 126*4131
125*2 128 Delaware & H u dson................
7,237 125*3 Oct. 26 144*2 Apr. 7
164% 164% *165 168
*165 168
166% 166% ‘ 162% 166
162*2 162*2 Delaware Laokawanna&West
4,510 158 M ay 21 174 S ep t 13
*10% 11*4 Denver & R io G ra n d e............
*10*2 11*2 *105s 11% *10*2 11*4 *10*2 11*4 *10*4 11
9*4 Aug. 7 1 2 *3 Aug. 20
32% 32% 32% 32*2 32% 325ft
*32% 33
32% 32%
32*4 32%
1,607 24 June 22 363s Sept. 10
Do
p ref.
*10% 12
*10% 12
*10*2 12
*10*2 12 E.T.Va.&Ga.,oert. all ass’tp d .
*10*2 12
*10*2 12
||3s Jan. 19 12*8 Sept. 11
20
*17
*17
20
*17
*17
*17
20
20
20 Do 1st pref., cert, all ass’t pd.
*17
20
11*2 June 23 193s Sept. 7
*12% 14
*12% 14
*12% 14
*12% 14
*12% 14 Do 2d pref., cert, all ass’ t pd.
*12% 14
4*2
Mar. 28 14*4 Sept. 1 9
*45
50
45
45 *........ 45
*40
?40
47
*40
45 Evansville & Terre H aute___
47
100 45 Oct. 22 6 8 A pr. 20
100 102 *100 102 *100 102 *100 102 *100 102 *100 102 Great Northern, p re f..............
100
Jan.
4 106 Apr. 9
*92*2 93*4 925a 925« 92% 92% *91
■90
92
*90
91 Illinois Central........................
91
325 89 July 9 9 5 * 4 Sept. 11
7%
*7*2 8
7%
*7%
8
*7*2
8
8 Iow a Central......... ...................
*7*2
8
*7*2
22
6 Jan. 2 11% Apr. 3
*28*2 30*2 *28
31
*28
27
31
*28
29
27
*27
30
150 23% Jan. 4 39% Apr. 9
Do
pref.
*16*2 17
16*2 16*2 *16*2 16% *16*2 17*2 *16*2 16% *16*2 16% Lake Erie & W estern..............
200 13% Jan. 12 19 *4 Aug. 24
70
►69*s 70*2 *69*2 71
*70
72
70
*69*2 72
70
71
340 63 Jan. 3 74 Sept. 13
>
D
o
p
ref.
135*2 135*2 135*2 135*2 135 135
135*2 135*2 133*2 135 *134*4 135% Lake Shore & Mich. Southern
1,095 118% Jan. 3 139 Aug. 23
*86
88
*86
*86
88
*86
*86
88
88
*86
8S Long Island................. ............
88
87 M ay 22 100 Jan. 2
12%
12*3 12*3 12
12*8 12*4 12% 12*2 12*8 12*2 12
12*4 Long Island T r a c tio n ............
2,360 10% Sept. 21 22 Apr. 16
54
54*4 53% 54%
53
54
53%
53*2 53%
53% 54
54*4 Louisville & Nashville............
7,765 40% Jan. 12 5738 Sept. 22
*7
8
*7
8
*7
6%
8
7*4
7*4
7*4 Louisv. New A lb. <fe Chicago.
7*4
7*4
310
6 June 5 10 Jan. 22
*21
24
*21
*21
24
21
20
24
22% *21
20
23
575 19 July 9 40 Jan. 6
Do
p ref.
1045a 107
107*8 108
104*2 106*4 106% 107
106 107% 105*2 107*2 Manhattan Elevated, con sol.. 28,166 104*2 Oct. 23 1273s Apr. 26
99*2 99*2 *99
*9ri*2 99% Michigan Central....................
99
99
99*2 98% 99%
270 94 July 23 1 0 0 3 s Feb. 1
*17*2 18
28 Minn.&St. L., tr. reots., 2d p ’ d
17*2 17*2 18
18
ir27*2 27% r*27
28 IT*27
380
2 Sept. 11 1T27*2 0 c t 24
*32
35
H41
32*4 32*4 31
<1*31
35
41*2
H42 *2 43
31*4
960 15 Sept. 12 1Î43 Oct. 25
Do
pref.
,tr.
rects.,
2d
p
’d
135s 135s *13% 135ft *13
135s 135a 135ft *13
135ft *13*8 13% Missouri Kansas & T exas___
1,200
12 June 23 16®8 Apr. 7
22*4 22*4
2 1 % 22
22*4 2 2 *2 *2 1 *2 2 2 *2
*2 1 % 22*4 *21*4 2 2 *2
350 1878 June 25 27*8 Apr. 9
Do
p ref.
2838 28%
28
28
28*4 28%
28
28%
28 Missouri P acific......................
28
28*4 28
1,835 18*4 Jan. 5 32*2 Apr. 7
*18*2 2 0
*18*2 2 0
*18*2
2
0
*18*2 19% Mobile & Ohio...........................
*18*2 2 0
*18*2 2 0
15*2 Jan. 3 2 2 M ay 15
*67
71
*67
*67
*6 6
71
*67
71
70 Nashv. Chattanooga&St.Louis
71
*67
70
70 Jan. 19 74 Apr. 18
99*4 100
99*4 99*4 99*4 995s 99% 99%
98*2 99*4 98*2 98*2 New York Central & Hudson.
1,704 95*4 M ay 24 1 0 2 *2 Aug. 23
*14% 1478 14% 14% *13*2 14*2 14
14
*14
15 New Y ork Chicago & St. Louis
14% *14
300 13*2 M ay 22 16% Apr. 9
*65*2 70
66
66
*65
6 8 *9 *65
6 8 *2
6 8 *2 *65
6 8 *2 *65
15 62 Ju ly 31 7 5 * 3 Feb. 3
Do
1st pref.
*27
30
*27
30
*27
*27
*27
30
30
29*2
*27*8 30
Do
2d p ref.
25 July 31 3 4 *4 Apr. 2
13% 1378 13% 13%
13*8 13*2
13*4 13*2 13*2 13*2 New York Lake Erie & West’n
1,095 11*4 June 25 183s Mar. 28
*26*3 28*3 *26*a 28*2 *26*2 28*2 *26*2 28*2 "26*2 28*2 *26*2 28*2
Do
p ref.
25*4 May 21 3 9 * 4 Mar. 27
3078 32*8 3I5s 32%
31*2 32%
31*2 31%
30*2 31*2 31*2 31*2 N.Y.& N.E., tr. recs.3dins.pd
7,219 ||33s May 19 1T3338Sept. 2 6
183
LS3 *183 184
183*4 183*4 182% 182% *185
*185*2
32 178 July 11 195 Mar. 15
New Y orkN ew H aven& H art.
16
16
16
16
16
15% 16 New York Ontario & Western
16
16 '
16
15% 15%
1,347 14 June 25 17% S ep t 4
15
15
15
14% 14%i
15
14% 14%
14% 14%
14
15
946 13*8 July 7 17*2 Sept. 13
*43*2 44
*42
43*2 435ft 43*2 43*2 43*2 43*2 43
432
43
Do
510 36 M ay 21 48 Sept. 13
pref.
*8
*7%
8*4
7%
8*2
7%
N orfolk & W estern
10 4 July 3 9 *2 S ep t 5
*215ft
*22*4 23
*22
22*4
2 2 *2 *215s 2 2 % * 2 2
22%
Do
178a Jan. 19 26% S ep t 6
pref.
*4*8
4 *2
*4*8
4
*4*8
4%
*4*8
4*2
4*4
4*4 Northern P a cific..
4*4
4*4
352
3*2 June 22
6 *4 Mar. 20
18
18
*17% 18*8 16*8 17%
16% 17*8
16*8 165ft 16*2 17
Do
9,050
12*3 May 21 2338 Mar. 30
pref.
*15
18
*15
18
*16
19
*16
18 Ohio S o u th e rn ....
17*4 17% *16
18
200
12 Aug. 8 18 O c t 4
*20
22
*20
23
*20
*20
*20
23 Oregon R ’y & Navigation Co.
23
23
*20
23
10 June 20 30 Mar. 7
*5
9
*5
*5
*7
9*2
8
9 Oregon Sh. Line & Utah North
9
8
*7*2
8*2
120 4*4 Jan. 2 1003 Apr. 6
*3*2
4
*3
3*2
4
*3*2
3*2
3*2
3*2
3*2 Peoria Decatur & Evansville.
450
238 Aug. 2
6*8 Aug. 23
18*4 19
18*8 185ft 18% 18%
18*4 18*4 17*4 18*4 16*2 17% Philadelphia & R eading......... 22,400 145a May 21 233s Mar. 14
17*2 17*2 17*2 17*2 *16
165s 17
18
16% 16% *16*2 17 Pittsburg Oinn- Chic. & St. L .
8451
10*3
July
12
2
1
* 4 S ep t 11
*47
48*3 *47
48% 47
48
4 7 * 2 48
*47
49
47*2 47*2
735 42 July 20 54 S ep t 5
Do
pref.
17% 17 78 17% 17%
175s 17%
17% 17*2 17*2 17%
17*2 17% R.&W.P. Ter.,tr. r.5th a sstp d
3,315 ||2 Jan. 15 19% Sept. 12
*22*3 23
*22*2 23
*22
23
23
*22*2 23
22*2 22% *22
Do
pref. tr. reots.
12*3 Feb. 7 25 Sept. 11
Rio Grande W estern................
15 Feb. 1 15 Feb. 1
4%
4%
45s
45fi
*45s
*4®8
5*8
5
5*8
4%
5 8t. Louis Southwestern..........
4%
320
3 July 31
5 *2 Apr. 5
9*2
9*2
*9
*9*4
9%
9*2
*9*8
9*2
9*4
9*4
9*2
9*2
500
D
o
p
ref.
7 July 11 11 Apr. 5
*22
26
*22
26
*22
*22
*22
26
26 St. Paul & D u lu th ..................
26
*22
26
22
Sept.
21
28
Aug. 21
*83
95
*83
95
*83
*83
*83
95
95
*83
95
95
Do
p ref.
88 Jan. 8 95 Mar. 29
*108 110
108 108
108 108 *107 110 *107 110 *107 110 St. Paul Minn. & M a n itoba ...
250
110
100
Jan.
6
Oct. 17
20
20*4 19% 20%
19*2 195ft 19% 19*2 19*4 19*2 19*8 19% Southern Pacific Co.................
1,860 17*2 July 23 25 Mar. 14
1278 13
12% 12%
12% 13
12% 12*2 12*2 12*2 *12% 12% Southern (when issued..........
1,835
12
Aug.
9
1478
Sept.
13
42*2 42*3 42*4 42*4 42*4 42*2 42% 42*4 *41% 42*4 41% 4 1 34 Do., pref. (when issued)___
1,105 34*4 Aug. 8 4 5 * 4 Sept. 13
10
10
10
10
10
10*8
10
10
10
10
10*8 10*8
1,287
7
Jan.
2
1078
Aug.
20
*5
6 *2
*5
6%
*5
*5
6%
6%
5
*4*2
5*2
5*2
100 3 Aug. 9 115s A pr. 3
*48
52
51
51
*48
*46
54
*46
51
*46
51 Toledo & Ohio Central
51
200 34 July 28 51 O c t 17
*72*3
*72*2
*72%
*72*2
*72*2
*72*2 82
Do
75 J an. 2 75 Jan. 2
pref.
11% 1 2
*11% 12
11% 11%
115s 115ft 11*2 115ft 11*2 11*2 Union P a cific..............
1,300
7 July 30 2 2 * 2 Mar. 31
5
*4*8
4%
* 4*8
4*8
4%
*4
4% Union P acific D enver & G ulf.
*3*2
4*8
100
3 Aug. 9
6 78 Mar. 29
*6 *4
6%
6%
*6*4
6*2
6%
6%
7
6% W a b a s h ...................................
*6*4
6%
6%
410
5% July 10
8*3 Apr. 6
14
14*8 14
14
14*8 145ft 14*2 14*2 14% 14%
14*2 145ft
3,560
D
o
pref.
12*3
Jan.
2
185s
A pr. 9
12®8 12%
12
12%
11% 12*4 *11*2 12*2 11*2 11*2 11*2 11*2 Wheeling & Lake E rie............
1,000
9
Ju
ly
27
143Ì
Aug. 28
*4078 43*2 *40% 43% *40% 43% *40% 43*2 40% 41
40
40
Do
pref.
310 32*2 July 27 51*2 Apr. 2
4
*3*2
4
*3*2
4
*3*2
4
*3*2
4
4*2 Wisconsin Cen. Co., tr. rects.
"3*2
*3*2
||1*2 July 23 II85 a A pr 2
M is c e lla n e o u s S to c k s .
31*2 31*2 *30*2 31*2 30*2 30*2 *30
31
29*2 30%r 29% 29%
3,167 26*4 Mar. 2 34% Aug. 25
*75
76*4 *75*2 76*2 *75
77
77*8 77%
76*2 77
*75*2 77
Do
255 63 Jan. 2 7 9 *2 Sept. 14
p ref.
85% 86*2
8 6 *4 87
86
87*8 86% 87*8 8 6 *2 87*8 86% 87 *ft
ricai
124,095
ig
Co.
75«8 Feb. 1 114 78 Aug. 21
92
92
915ft 915ft 91% 91%
91*2 92
91% 91%
91*2 92
Do
991 79% Jan. 2 100*8 Aug. 21
pref.
9 7 % 9S
98
98
98
98
99
98% 99
99*2 99%
99*2
2,298
69% Jan. 2 107 Aug. 27
*104 107
104% L04% 105% L08 *105
108
107*8 107*« *106 110
Do
332 91*4 Feb. 16 110 Aug. 21
pref.
74% 75%
74*4 75
74*4 74%
74*4 74%
73% 74%
74*4 745ft
58% Jan. 3 80 June 25
33,180
9
10
*958 10
*95a 10
10*4
*9
10
10
*8
400
5 June 26 1358 A pr. 4
24
9A *
9.4.
*99.
24
22
100 21 Jan. 3 27*3 Apr. 4
*120*3 122
120 120*2 118*4 119
116*2 118*2 118 118
117*2 117*2
5,196 111 Ju ly 30 140 Apr. 20
9% IO
9%
9%
9% 10*4 10
10%
9% 10*4
10*8 10*4
15,087
7 78 Oct. 1 305s Feb. 6
34%
34% 355g 34
345s 35*4 34% 35%
34*8 34%
34
34%
16,774 303i Jan. 3 45*8 Mar. 8
39
40*4 40
40
39% 40% *39% 40*4 39*8 40
39*8 39*2
3,525 22 Jan. 2 44 78 Aug. 2 0
87*4 87*4 87*2 88
8 8 *2 88*2
88% 88%
875s 88
83
8 8 *2
Do
1,052 68 Jan. 2 92*3 Aug. 23
pref.
4
4
*4
4
4*2
3%
*4
4%
4*8
4*8
3%
3%
440
55a Mar. 17
2% June 25
15*2 15*2 *15
16*2 15*2 15*2 *15
17
15*2 15*2 *15*2 17
300 11*2 Aug. 1 19*3 Sept. 11
18
19
19
5g
19
20
19
19 s8 19*8 19*8
20*4
18% 19*4
8,920 13*2 May 15 2 0 * 4 Oct. 22
*8278
*82%
*83
*82%
<83
*83
79 Jan. 15 90*2 J une 9
*160 164
160 160
161 161*4 161% 161% 161 161
161 161
991 152 Ju ly 9 174 A pr. 13
*64
*63*2
*63*2
64 Apr. 26 67 Jan. 20
17% 17%
17
17
16
165s 14
16
15*8 15*2 15% 15%
5',439 14 Oct. 24 2078 Sept. 26
Do
62*3 M ay 2 71 Apr. 2
p ref.
12*4 13*8 12*4 125s 12% 13
12*2 13*4 125ft 13*4 12% 12%
>a states Cordage C o ....
3,939 10 Oct. 11 23% June 18
23
23
*21
24
20% 20%
22
22
22% 22%
22
23
499 19 Oct. 10 41 June 19
Do
p ref.
*40
42
41
40*2 41
41
42
42 United States Rubber C o .....
40*2 40*2 *40
*40
830 33*2 M ay 22 43 Apr. 5
87% 88
87*4 875s 86% 87%
87
87% 87
87% 875ft W «stem Union T elegraph.. . . 11,618 80% Jan. 3 92*3 S ep t 11
87%
These are bid and asked; no sale made.
II Old certificates
2d assessment p a id
1i A ll instalm ents pai i*
L ow est is e x div.
THE CHKON1CLE,
730
fiiiüC s r iOK. H]
m V. ^ i * R ( A 8 * i »;<xir,iuue4| —INACTIVE STOCK'S.
Bange (sales) in 1894.
Oet. 26.
INACTIVE STOCKS
If Indicates unlisted.
[V ol. L1X,
Ask.
Bid.
R a ilr o a d S to c k s
A lban y & Susquehanna.............100 165 175 166 July
135 Mar.
B elleville & South. 111. p re f...... 100 135
100 June
B oston & N. Y . A ir Line p ref ..1 0 0 100%
10 July
13
10
B rooklyn Elevated II_____ ____ 100
20 Jan.
20
B affalo R ochester & P ittsburg. 100
61
Apr.
60
Preferred....................................100
50 Aug.
49*«
Burl. Cedar Rapids & Nor.........100
10%
June
Í
14%
Central P acific......... - .................. 100
147 Jan.
Cleveland & P ittsb u rg ............. 50 153
5%
Jan.
6
Des Moines & F ort D odge------- 100
14 Jan.
Preferred................................... 100 30
3% 41« 4% July
Duluth So. Shore & A tlantic H.100
111« 13 Aug.
Preferred n ........................
100
51« 14 14 Apr.
F lint & Pere Marquette........»..1 0 0
40 Sept.
45
Preferred...............
100
71«
G eorgia Pacific Trust ctfsH— 100
3%
31«’ Oct.
Gr. Bay Win. & S t.P . tr.reo.-.-lO O
8 10 12 Aug.
Preferred trust rects...............100
2% Jan.
H ouston & Texas C e n t r a l...... 100
86% Jan.
Illinois Central leased lin e s .. . . 100 Î 91
Kanawha & M ichigan....... ..... 1 0 0 î 8%
7*8 June
5
K eokuk & Des M oines................100
12 Jan.
16
13
100
Preferred..................
5 Feb.
Louisv. Evansv. & St. L. C ons. 100
P re fe rr e d ................................. 100
11« Feb.
Louisv. St. Louis & T exas.........100
138
Mahoning Coal....... .................... 50 101
104 Aug.
Preferred................................... 50 U 0 6
1061« oct.
M etropolitan TractionH............ 100
6i8 Feb.
M exican Central..........................100
M exican N ation a l...........
100
148 Jan.
M orris & E ssex ....... .................... 50 Î161
110% Jan.
N. Y. Lack. & W estern...............100
5% May
N. Y ; & Northern p re f................ 100
51 Jan.
N orfolk & Southern.................... 100 : 64
2% Aug.
21« 6
P eoria & E astern.........................100
149 Jan.
Pitts. Ft. W ayne & C hicago___ 100 153
29% 20 July
Pitts. & W estern p f.................... 50 28
172% Feb.
Rensselaer & Saratoga.............. 100 180
176
135
100
18
24%
61
52
18%
154%
7%
34
8
19
16%
45
Apr.
Mar.
June
Aug.
Apr.
Apr.
Apr.
Sept.
May
June
Aug.
Apr.
Apr.
Apr.
Mar.
7%
12
12
92
9%
Mar.
Aug.
Aug.
July
Apr.
13
6
June
Feb.
1% Apr.
107 " M a r.
120 May
8% Apr.
161 " Ö o t.
115% Aug.
6 Apr.
64 Oct.
6 July
154 May
29% Oct.
181 Sept.
Oct. 26.
I n active Stocks .
1TIndicates unlisted.
Highest.
Lowest.
Indicates actual sales, j
Bid.
R io Grande Western p re f........ 100
R jin e Wat.& Ogdensburgh___100
it. Louis A lto* <ft Ter. H aute...100
P referred .................................. 100
Toledo Peoria & W estern..........100
Toledo St. L. & Kansas City If.........
M is c e lla n e o u s S to c k s .
Adams E xpress......................
100
Am erican Bank Note Co IT........... .
Am erican E xpress................. ...1 0 0
Amer. Telegraph & C a b le .___ 100
Brunswick Com pany..................100
Chic. Juno. R y. & Stock Y a rd s.100
100
Preferred........................
Colorado Fuel & Iron, p ref.......100
Columbus <fc H ocking C oa l....... 100
Commercial Cable.......... . . . . . . . 1 0 0
Consol. Coal o f M aryland.........100
Edison E lectric Illum inating.. .100
Interior Conduit & Ins. Co .....1 0 0
Laclede G as........................
100
P referred.............
100
Lehigh & W ilkesbarre Coal U .........
Maryland Coal, p r e f ............'...1 0 0
M ichigan-Peninsular Car C o ... 100
Preferred....................................100
Minnesota Iro n ....................
100
National Linseed Oil Co.............100
National Starch Mfg. C o........... 100
New Central Coal.........................100
Ontario Silver M ining................ 100
Pennsylvania Coal....... ............. 50
Postal Telegraph—Cable If..............
Quicksilver M ining............. .....1 0 0
P referred...............
100
Texas Pacific Land T ru st.. . . . . 100
U. S. E xpress............................... 100
U. S. Leather preferred 11.............
U. S. Rubber preferred.............. 100
W ells, Fargo E x p r e s s ................100
Bange (sales) in 1884
Ask.
Lowest.
1117% .........109%
32
35
20
175
.......... 150
15
2%
2
Highest,
May 118
Jan.
35
Mar. 167%
Apr. 17
Mar.
2
145 148 146
47% 50
110% 112% 108
85
; 91
2%
3
1%
90
50
4%
140
31
32% 28
93
100 101
36
15
t 19%
59
1 74
22
45
60
Sept. 154% Jan.
July 116 Apr.
Feb.
June
5 Mar.
Aug. 97% Apr.
Jan.
70
Jan.
9%
Mar. 150
Jan
31
Feb. 104
Apr.
55%
Jan.
20
Jan.
75
May
22%
Apr.
Apr.
July
Mar.
Apr
May
Aug.
Oct.
May
47% June 59%
45 Feb.
52
14 Sept. 25
7 July
9%
12
9
7 Feb.
8%
6% Jan.
7%
12
298 Feb. 315
60
2%
3
1%Jan.
15
13% Aug. 17%
7% Jan.
11%
57
4 8 " 41 Oct.
52% June 68%
80 Jan.
96%
109 July 128
Feb;
Mar.
Jan.
Aug.
Mar.
May
June
50
Î 21%
6%
7
7
295
50
1
42
Î 59%
I 95%
1114%
Oct.
Apr.
Juna
Apr.
Mar.
Feb.
Mar.
Aug,
Jan.
Apr.
Aug.
J an.
t A ctu al sales.
No price F rid a y ; latest price this week.
NEW YORK STOCK EXCHANGE PRICES.—STATE BONDS OCTOBER 2 6
SECURITIES.
Bid.
Alabam a—Class A , 4 to 5 ........1906
Class B, 5s ..............................1906
Class C, 4 s . . . . . . . . . . . . ...........1906
Currency funding 4 s .............1920
Arkansas—6s, fund.H ol.1899-1900
do. N on-H olford
7s. Arkansas Central R R ............
Louisiana—7 s, c o n s . . . . . . . . — ¿914
Stamped 4 s................J ..................
New eonols. 4s____________ 1914.
SECURITIES.
Ask.
103 104
105% 107
92%
92%
2
10
170
1
10
110
100
95
97
Bid.
2,000,0
1.923.0
944.2
2,000,0
2, 000,0 2.113.2
3.000.
0
2.144.3
449.6
1 . 000 .
0
1 , 000,0 2.999.2
168,0
750.0
300.0 7.192.4
600.0
143.8
1,000,0 1.579.6
267.4
300.0
400.0
403.3
200.0
177.8
514,41
600,0
300.0
112,0
510.6
1.200.0
5.000.
0
2.355.6
5.000.
0
3.537.5
1.000.
0
1,568,61
1,000,0 1,103,4
479.6
422,7
1.500.0
930.5
450.0
960.3
259.2
200.0
700.0
607.5
1,000,0 1.900.3
500.0
335.0
600.0
377.9
500.0
288.7
804.2
750.0
1 , 000,0
253.7
1 , 000,0 1.183.1
1 ,000,0
222.8
300.0
412.4
1.500.0 5,467,9
2, 000,0 3,074,0
250.0
141.5
3.200.0 2.017.7
2,000,0
445.0
300.0
575.1
750.0
365.0
600.0 7.274.3
1,000,0
193.1
300.0
138.3
250.0
543.9
200.0
562.3
750.0
273.1
500.0 1.200.6
100.0 1 018,2
200,0
621.4
200,0
603.1
527.4
500.0
518.2
300.0
645.2
200.0
200,0
309.3
300.0
744.7
281,2
200.0
228.3
500.0
335.9
200.0
218.6
2,100,0
871.5
300.0
575.5
500.0
278.8
1,200,0
112.9
500.0
2.050.0
$
16,010,0
13.669.0
10.534.0
10.725.0
19.622.1
5.102.0
23,651,8
2.386.3
26.431.3
4,101,9
6.463.5
1.684.5
2.245.0
1.153.2
3.083.7
1.719.8
3.062.8
21.895.0
22.653.0
’ 5,944,3
8.311.8
2.471.2
12,116,5
5.409.4
2.193.9
6.550.3
18.851.4
2.706.0
Specie.
2.230.0
2.517.0
2,021,3
1.421.0
2,265,6
516.0
8.119.9
396.3
6.597.5
827.1
1.221.9
132.3
320.0
178.3
525,8
250.7
162,6
2.573.0
4.246.6
1.031.1
1.546.0
590.3
1.619.1
1,000,0
233.1
1.079.2
4.747.6
367.5
2.866.0
640.3
586.5
1.898.1
605.1
5.029.4
485.0
2.982.0
8.157.6 1.781.7
4.755.0 1.122.5
254.0
1.845.5
22.039.0 4.671.0
24.068.0 5.481.1
102.8
1.064.4
22.361.3 4.614.6
9.400.0
554.0
944.0
4.356.0
760.7
3.645.8
23.894.2 2.615.9
8.480.2 1.723.5
111.6
1.354.1
453.0
2.659.0
620.4
3.040.9
2.681.5
591.8
14.236.4 4.970.9
878.5
6.174.7
230.0
2.621.4
530,7
3.181.6
5.362.0 1.132.5
4.648.9 1.616.6
712.4
3.918.5
200.5
1.860.6
4.260.2
748.6
224.0
2.338.0
772.0
4.568.0
289.0
1.768.0
11.863.1 1.751.9
4.361.0 1,043,0
145.1
2.654.3
9.206.5 1,080,6
155,3
1.422.6
Legáis. Deposits
3.270.0
2.009.0
2.531.6
1.613.0
6.710.4
1.068.0
6.399.4
297.4
5.611.0
472.1
1.233.1
292.8
420.0
222,3
410.0
324.7
563.0
7.268.0
5.972.0
487.9
1.817.6
724.2
3.454.4
1.258.3
433.3
1.829.2
3.651.5
741.3
337.6
737.2
970.1
1.553.0
980.0
1.988.7
411.0
7.274.0
4.116.2
276.0
2.362.0
5.976.0
1.705.0
493.5
4.864.6
1.970.7
311.8
509.0
236.3
540.9
3,659,5
785.9
560.4
611.7
775.8
1.351.1
995.1
277.4
735.7
772.0
1,259,0
190.0
2.489.7
519.0
690.7
2.812.3
268.1
17.740.0
15.298.0
13.330.1
10,266,0
24.626.7
5.274.0
34.305.7
2.430.0
31.152.7
4.633.2
6.478.9
1.679.0
2.450.0
1,203,7
2.838.5
2.059.6
2.394.5
21.410.0
23.289.1
5.557.3
9.348.7
3.660.1
14.929.0
6.190.6
3.282.9
7.061.1
24.320.5
3.046.0
3.474.3
3.031.5
5.365.6
4.497.0
9.424.3
7.424.5
1.900.0
28.122.0
29.412.1
1.043.2
24.431.6
14,235,0
6.188.0
4.191.6
24.426.7
10.942.9
1.373.8
3.222.0
3.458.7
3.066.0
21.140.9
6.647.2
3.140.4
4.108.1
6.671.2
6.615.9
5.260.3
1.876.5
5.385.4
2.872.0
5.995.0
1.625.0
13.758.2
4.767.0
2.586.7
11.424.2
1,346,2
Total....................J61,622,7171,259,6 500,772,5 93,937,9J117,252,5 594,706,9
N. Y o r k .“
Sept.22 ...
2 9 ....
«
6 ....
Oct. 1 3 ....
“ 2 0 ....
B o sto u .*
Capital &
Surplus.
Loans.
$
132.664.6
132.664.6
132.664.6
132.882.3
132.882.3
$
497.919.4
497.561.0
500.277.2
500.168.2
500.772.5
Oct. 6 ___
1 1 3 ....
“ 2 0 ....
69.351.8 173.304.0
69.351.8 172.721.0
69.351.8 171.861.0
Oct. 6 ...
“ 13 ..
35.810.3 112.907.0
35.810.3 112.979.0
P h ila .*
79 '
58%
8%
Specie.
$
Legáis. Deposits.^¡Circ’l’n Clearings.
91.862.4
92.010.5
92,215,1
92,890,9
I $
1150943
1154397
1146212
1156712
32.931.0
32.150.0
$
j íjj
587,928,1 104405
586,633,51108038
589,541,4 111420
590,859,1 115537
117230
475,415,9
439,191,4
578,932,2
478,844,8
486,918,9“
7.069.0
7.030.0
6.816.0
97,846,4
80.075.2
82.815.2
115,980,0 5.290.0
115,802,0 5.390.0
74,591,1
59,473,7
33.420.0
1116,867,0 5.404.0 64,347,820 i 35.810.3 112.301.0
* We omit two ciphers in all these flgn/res. + Including fo r B oston and Phila
“
delphia the item “ due to other banks.”
Miscellaneous and Unlisted Bonds.—Stock Exch. prices:
m isce lla n e o u s B on d s.
Ch, J un.<& 8 . Y ds.—C ol.t.g.,5s
Colorado Fuel—Gen. 6 s ..........
Col. & H ock. Coal & I . - 6 s, g.
Consol’n Coal—C onvert. 6 s.
Cons.Gas Co..Chic.—1st gu.5s
Denv. C. W at.W ks.—Gen.g.Ss
B et. Gas con. 1st 5s.................
E ast R iv e r Gas 1st g. 5s.........
Edison E lec. 111. C o.—1st 5s .
E quitable G. & F.—1st 6s . . . .
H enderson Bridge—1st g. 6 s.
H ohoken Land <& Im p.—g. 5s
Mich.-Penin. Car 1st 5s, g . . . .
M utual U nion Teleg.—6 s g . .
Nat. Linseed Oil deh. 6s, g . ..
Northwestern Telegraph—7s.
P eoria W ater Co.—6 s, g — .
M is c e lla n e o u s B on d s.
P eople’s Gas <fc C. 11st g. 6 s.
Co., C h ic a g o .... 5 2d g. 6 s.
Pleas. V alley C oal—1st g. 6 s.
P rocter & Gamble—1st g. 6s
Sunday Creek Coal 1st g 6s..
U. S. Leather—S. f. deh., g.,6 s
W estern U nion T eleg.— t . . .
W heel.L .E & P .C oal—1st g,5s
U n listed B on d s.
104
* 98
*1 1 2
99
lll%
113
69
Am er. Beb. Co. col. tr. 5 s ....
Com stock Tunnel—Ino. 4s..
Geo. P ac—J s t 6s g. c t fs ........
2d m ort. ¡in co m e .. . . . . . . . . . .
Consol. 5s, g. c t fs ....... t: Incom e 5s. c t fs ................... .
Mem.&Charleston—Con. 7 g.
South. R y. 1st 5s, when iss’d
b.
b.
b.
b.
b.
b.
b.
6 b.
109 %b.
51 b .
14 b .
87%b.
N ote .—“ b" indicates p rice b id ; “ a ” p rice asked. * Latest prioe this w eek
Bank Stock List—Latest prices of bank stocks this week:
BANKS.
Bid.
Ask.
B A N K S.
A m e r ic a ....... 202 205% jGallatin........
Garfield_____
Am. E x c h ... 152% 157
German A m .
B roa d w a y... 230 240
G erm ania....
B utohs’& Br. 165 175
G re e n w ich ..
120
H anover.......
450
H ud. R iv e r..
Chatham....... 350
Im . & Trad’s’
C h em ica l__ 4200
I r v in g ..........
C ity .......... . 425
Leather M fs’
Citizens’ ....... 140 145
C olu m b ia .... 200
C om m erce... 177 Í 8 0 " M anhattan..
M a rk e ts Ful
C ontinental. 120
M echanics’ ..
C om E x ch .. 280 300
15
M’chs’ & Trs’
E a t R iv e r., 140 16Ó" M erca n tile..
Merchants’ ..
l i t h W ard... 200
¡Meroh’ts Ex,
F ifth A v e .... 2000
Eift,h.............
M e tro p o lis..
Mt. M o rris..
2500
F irst N., S . l . 1 1 2 % 125' M urray H ill
Nassau____ _
14 th S tre e t.. 170
F ourth ....... 190 195 iN ew Y ork
». O
! ¡OO
OCO
»
Bank of N ew Y ork..
Manhattan Co..........
Merchants’ ...............
M echanics’ .............. .
A m erica.....................
P hen ix.......................
C ity...........................
Tradesmen’s ............
C h em ical................
Merchants’ E xch ’ge
Gallatin N ational...
B utchers’& D rovers’
M echanics’ & Trad’s
G reen w ich ................
Leather M annfac’rs
Seventh N ational...
State of N ew Y o r k ..
A m erican E xchange
Comm erce.................
B roadw ay.................
M erca n tile...........
P a cific........................
R ep u b lic....................
Chatham....................
People’s ....................
N orth A m erica........
H anover....................
Irv in g ....... .................
C itizen’s ....................
N assau.......................
M arket & F u lto n ...
Shoe & Leather.......
Corn E xch an ge.......
Continental..............
O riental.....................
Im porters’ &Trader s
P ark.......... ...........
E ast R iv e r...............
Fourth N ational___
Central N a tion a l....
Second N a tion a l....
N inth N ational.......
F irst N ational.........
Third N ational.........
N .Y . N at. E xchange
B ow ery......... . ...........
N ew Y ork C ounty..
German A m erican..
Chase N ational.........
F ifth A ven u e..........
German E xch an ge..
Germania................ .
United States..........
L in co ln .....................
Garfield..................
F ifth N ational........
Bank of the Metrop.
W est S id e .............
Seaboard...................
Sixth National.........
W estern N ational..
F irst Nat. B r’k lyn ..
Southern National..
N at. U nion B ank... .
L ib erty Nat. B ank.
$
1.974.6
Ask.
New York City, Boston and Philadelphia Banks:
Ban ks .
Capital Surpl’s Loans,
Bid.
SECURITIES.
.......
Compromise, 3-4-5-6S.......... 1912
3 s ............................................. 1913
2%
5
78%
90
5
2%
do
4% s.................. 1913 102
101
Penitentiary 4% s.................1913 100
6s.............................................. 1919 124 127
58
Virginia funded debt, 2 - 3 s ...l9 9 i
South Carolina—4%s, 20-40.. 1933 101 104
8%
2
6s, deferred t’st reo’ts, stam ped.
2%
6s, non-fund...........................1888
New York City Bank Statement for the week ending
October 20, 1894. W e omit two ciphers (00) in all cases.
BANKS.
(00s omitted.)
Ask.
... . . .
Bid. A sk.
300
300
115
350
150
300
150
530
140
180
315
.... .
120
......
...
BANKS.
N .Y . Co’nty
N .Y . Nat. E x
N in th ..........
19th W ard..
N. A m erica.
O rien ta l___
P a cific........
P a r k .........
Bid. A sk .
525
105
117
125
150
165
275
People’ s .... 266
550
P h e n ix ........ 117
160
P roduce E x.
210
R e p u b lic.... 157
S e a b o a rd ... 170
185%
S econd____ 300
210 225
Seventh ___ 120
180 200
S h o e * L e’th 110
155 145
St. Nicholas.
170 200
S ou th ern ...
135 140
Stateof N.Y.
110
400 450 ' T h i r d . ... ... 105
Tradesm ’n’ s
125
U u’d States 180
W estern . . 112
Í62 170
230 235 UW est S ide..
320
__
125
165
250
300
163
165
110
200
118
O ctober
731
THE CHROJSLCLE.
27, 1894. J
BOSTON, PHILADELPHIA AND BALTIMORE STOCK EXCHANGES.
Active Stocks.
H Indicates unlisted.
Ateh. T. & 8. F e (Boston). 100
A tla n tic & P a c.
“
100
B altim ore & O hio (Balt.) .100
1st p referred
“
1 00
2d p referred
“
1 00
B a ltim oreT ra o’ n (Phil.).. 25
B oston & A lb a n y (Boston). 100
B oston & L ow ell
“
100
B oston & M aine
“
100
Central o f Mass.
“
1Q0
Preferred
“
1 00
Chic. B ur. & Quin.
“
1 00
Chic. Mil. & St. P. (Phil.). 1 00
Chic. & W. M ich . (Boston). 1 00
Cleve. & C anton
“
1 00
P referred
“
100
F itchburg p re f.
“
100
H unt. & B r T op . ( Phila.). 50
P referred
“
50
Lehigh V a lley
“
50
Maine C entral (Boston). 1 00
M etropolitan T rac.fP /w O -lO O
M exican Oent’l (Boston). 100
N .Y .& N .E .,tr.rec.§ “
1 00
Preferi ed .tr.rec. § “
1 00
N orthern Central (B a lt,). 50
N orther a P a cific ( Phila.) 100
P referred
“
100
Old C olon y ........ (Boston). 100
P e n n sy lv a n ia . . . (P h ila .). 50
Philadel. & E rie .
“
50
Phila. & R eading.
“
50
P hiladelph T rac.
“
50
Sum m it B ra n ch (Boston). 50
U nion P a c ific ___
“
100
U nited Cos o f B .J.( Phila.) 100
W .N .Y .& P a .tr.rec
“
100
m is c e lla n e o u s S to c k s .
A m .Su g’r Refin. B oston)___
P r e fe r r e d ..........
“
B ell T e le p h o n e ..
“
100
Bost. & M on ta n a .
“
25
B utte & B o s t o n ..
“
25
Calum et & H e c la
“
25
C anton C o ........... (B alt.). 100
C onsolidated G as
“
100
E rie T ele p h o n e . (Boston) . 1 00
G en eral E le c tr ic .
“
100
P re f e r r e d .. . . . . .
“
100
L a m son S toreS er.
“
50
Lehi’h C oal& N av. (Phila.) 50
N. E. T elep h on e (Boston) . 100
N orth A m erican ( P hil.). 100
W est E n d L a n d .. (B oston) ___
§ 3 d in sta lm en t paid .
|^P* S h a r e P r i c e s — n o t P 6 r C e n t u m P r i c e s
Saturday,
Oct. 20.
5%
*1%
Monday,
Oct. 22.
5%
5%
*69%
5%
*1
*69%
*126
W ednesday,
Oct. 24.
5%
204 204%
194% 194%
149% 150
*
11%
*49
73% 73%
60% 61%
k
20
*•50
*•50
•6o"
2%
2%
*2%
2%
*2%
75%
75%
75%
75
75%
A
36
36 *
51% *
51% k
37% 37%
37% 37%
37%
*117
118 118
105% 107»« 103
105 108
7
7
7
7%
7%
31%
32% 32%
31
32
61
61
60
61
60
69%
69%
68% 68% *
4%
4%
*4%
4M
4%
17%
*17% 18
*17% 18
*177 177% *177
*177%
51% 51%
51%
51% 51%
204
194%
150 150
*11
12
*49
73% 74%
61% 61%
5%e
*1
70% 70%
15% 15%
205 205
195 195
149% 150
11% 11%
55
*49
73% 73%
60% 60%
k
15
*•50
2%
2%
2%
76% 77%
76%
51% *
51%
37% 37%
37%
*118 119
1 0 9% 11 0
109
*6%
7
7
31%
31% 31%
61
69%
4
4%
4%
16
16
17%
177% 177%
51*4 51% 51%
15%
204%
195
150%
*11
*49
73
60%
*•50
2%
77
*
36%
118
109%
7
30%
*58
*69%
*4%
16%
177%
51%
5%
70
15%
205
195
150%
12
73%
61
2%
77%
51%
37%
118
109%
7
31%
60
70
4%
16%
177%
51%
9%
9%
9%
9%
9% 9316
8%
9%
10234 103
10 2% 10 3
102 103
101 102
*
6 *
7
6 k
11% 11% *11% 12
1134 11% * 11% 11% *11% 11%
236
236
236 *
235 235
236 *
5%
5%
6
*5%
5%
5%
*5%
*5%
6
6%
9% 95„
101% 103
85% 86%
86% 87
91% 92%
91% 92
200 200
199 199
29% 29%
29% 29%
10% 10%
10% 10%
290 290
*290 294
*90% 91% *90% 91
*67% 68%
54
53% 54
54
34% 34%
35
35
65
65
65
65
23% 23%
24%
*24
51% 51%
51% 51%
67H
67% 67%
*67
86% 87%
86%
86% 87%
92%
91% 92%
91%
92
199% 200% 200
199% 200
29% 29%
29%
29% 29%
10%
*10% 10% *1038 10%
290 290 *290
290 290
91 <r
91
91 *
68
68
*67%
68
68
52% 53%
52%
53
53%
34%
34% 34%
34% 34%
65
*65
65
*60
65
k
*24
24% *23%
24
51% 51% *51%
51% 51%
67%
67%
67%
*67
67%
4
4
•
*2
2%
*2
2%
2%
2%
2%
*2
Bid ana asked prices; no sale was made.
Prices o f October 26.
Atlanta & Charlotte (Balt.). 100
B oston & P rovidence (Boston). 100
Cama en & Atlantic p f . (Phila.). 50
“
50
Catawissa....................
1st p re fe rre d ..............
|
50
“
50
2d pref erred ............
Central O h io ............. (Balt.). 50
Chari. Col. & Augusta
“
100
Connecticut & P a ss.. (Boston). 100
Connecticut R iver . . .
“
100
Delaware & BoundBr. (Phila.). 100
Flint & Pere M a r q ...(Boston). 100
Preferred . . . ..............
“ 100
Har.Ports M t.Joy& L. (Phila.). 50
Kan. C’y Ft.8. & Mem. (Boston). 100
P referred .....................
“ 100
Little Schuylkill.........(Phila.). 50
M aryland Central___ (Balt.). 50
Mine H ill & 8. Haven (Phila.). 50
Nesquehoning V al___
“
50
Northern N. H . , . , ___ (B oston). 100
N orth Pennsylvania. (Phila.). 50
Oregon Short L m e ...(B oston). 100
Pennsylvania& N . W. (P h ila .). 50
R u tla n d ....................... (Boston) .100
P referred.....................
“
100
Seaboard & R oanoke. (Balt.) .100
1st preferred..........
“
100
W est E nd................. . (Boston). 50
P re fe rre d ........... .
“
50
W est Jersey................. (P hila .). 50
Wpst Jersey & A tlan .
“
50
W estern M aryland... (B a lt.). 50
Wilm. Col. & Augusta
“
100
W ilmingt’n & W eldon
“
100
W isconsin C e n tr a l...(Boston). 100
P re fe rre d ....................
“
100
W orc’st.Nash.&Roch.
“
100
Bid.
Ask.
91
255
260
92ia
51%
50%
129
240
164
11
35
84
15
60
65
4%
52
130
250
14
40
20
65
68 %
55
86
7%
40
2
70
54
83%
55
8%
2%
71
54ia
84
20*3
95
3
117
MISCELLANEOUS.
100
3%
25
120
•50
A llouez Min’ g, asstpdfBostowJ. 25 •35
9«* 10 %
A tlantic M ining.........
“
25
City Passenger R R ... (B a lt.). 25
70
70%
11 ia 11 %
B ay State Gas If____ (B oston). 50
4
5
B oston L and..................
“
10
1
Centennial M in in g ...
“
10
%
E lectric Traction___(P h ila .). 50
44%
Do
tr. rets, all pd. ‘ ‘
2
F ort Wayne E lect.^ ..(B oston ). 25
2%
11 % 12
Franklin M ining___ _
“
25
1
Frenchm ’n’ s B ay L’d .
"
5
1%
40
49
Hlinois Steel...................
“
100
6% 7
Kearsarge M in in g ....
“
25
75
Morris Canal guar. 4 . (P hila .). 100
Preferred guar. 10.
“
100
Osceola Mining.......... (B oston). 25
22ia 23%
Pullm an Palace Car.
“
100 161 162
90
93
Quincy M ining..........
“
25
Tam arack Mining___
“
25 148 154
United Gas Im pt.......(P h ila .).........
71% 72
1
Water P ow er.............. (B oston). 100
1%
Westingh. Elec. & M ..
“
50
35 »a 36%
53
53%
Pref., cum ulative.
“
50
■P rice includes overdue coupons.
Inactive stocksi
Bonds— Boston.
Sales
Friday.
Oct. 26.
Thursday,
Oct. 25.
5%
*1
70
5%
15% 15%
205 205 "
*194%
149% 150
11% 11%
50
50
73
73%
60% 61
204
Inactive Stocks.
5%
Tuesday,
Oct. 23.
5%
*1
*70%
*124
*112
*15%
*204%
‘ 195
*149
*11
50
73%
61
*10
*•50
*2%
77
*
36*4
119
109%
7
31%
*60
*69%
4%
*16%
177%
51%
*23
8°16
103
*5
11%
*235
*5%
5%
1%
72
16
205
196%
150%
12
50
73%
61%
15
3
77%
35%
51%
36%
119
109%
7
31%
62
69%
4%
17%
177%
51%
25
8%
103%
7
11%
235%
6
86%
87%
91%
91%
200
198
29%
29%
10%
295 *290
*90%
91
68
*67%
53
51
34%
34%
65
24% *24.
51% *51%
67%
67%
294
91
68
52%
35
65
24%
51%
67%
*2%
2m
Bid.
2%
86%
92
199%
29%
A sk.
Range o f sales in 1894.
Week,
Shares.
8,814
50
Lowest
67% Jan.
399 13%
88,198
26 182%
223 126
30 10%
115 46
5,500 70%
14,700 54%
349
684
2,049
58
6,538
895
3,229
105
26
552
466
83
1,503
Highest.
3% July 23
Auv.
July
Jan,
Jan.
July
Jan.
Aug.
Jan.
4
21
2
10
15
24
3
7
3
2 Feb. 24
66% June l
36 M ay
101 J an.
x 96% Jan .
5% Jan.
Î3% May
Í24% Mar.
66 July
3% Juñe
12% June
170% Jan.
48 Jan.
21
16
6
2
19
20
17
23
25
2
5
16% Mar. 29
129
Apr 19
212
Apr. 30
156 Sept. 18
14% Mar. 10
84% Mar. 2 Ì
67% Sept. 6
3 % Sept. 14
81 Feb. 7
37% Sept 14
52 Ju lyJ J,
42% Mar. 13
119 Oct. 26
122 Apr. 12
9% A pr. 3
33% Sept. 26
66 Sept. 24
69% Aug. 22
6% Mar. 21
23% Mar. 31
180% Sept. 8
52% A pr. 7
28 % Feb. 1
11% Mar. 12
115% Apr. 11
24,136
7% May
6,641 t83% July
4% May
6% July
483
1 227% Mar.
120
|% Ju ly
21
2
24
30 22% Mar. 31
21 236 Oct. 11
17
7 Sept. 24
11,435 75%
407 79
383 163
586 22
660
7%
19 265
24
3
26
21
23
22
125
2,740
1,129
163
14
386
74
20G
200
53%
42
30%
56
12%
50
49
Jan.
Jan.
Feb.
July
July
Juñe
Jan. 3
Feb. 21
Jan. 3
Jan. 4
Jan. 2
M ay 23
Feb. 28
114%
100
208%
31%
11%
302
93
68
56
45%
75
26
55
63
11% July 3 12% Mar. 29
1 E x rights. [ i Old oerts. 0
Bonds.
Pa. & N. Y . Ca., oon. 58.1939, A&O
_ I
66% Perkiom en, 1st s e r .,5 s .l9 1 8 , Q—J
At.Top.&S.F.100-yr.4 g.,1989, J&J
19% Phila.& Erie gen. M. 5g.,1920, A&O
2d2% -4s, g., Class A . . 1989, A&O
Gen. m ort., 4 g ...........1920, A&O
78
B oston United Gas 1st 5s.............
58
Phila & Read, new 4 g., 1958, J&J
2d m ort. 5s....... .....................1939
115%
1st pref. incom e, 5 g, 1958, Feb 1
Burl. & Mo. R iver E x e u n t 6s, J&J
2d pref. incom e, 5 g, 1958, Feb. 1
108
Non-exem pt 6 s .......1 9 1 8 , J&J
92
3d pref. incom e, 5 g , 1958,Feb. 1
Plain 4 s . . . . . . . . ......... ..1 910, J&J
103
2d, 7 s............................1933, A&O
Chic. Burl. & Nor. 1st 5,1926, A&O
99
Consol, m ort. 7s.........1911, J&D
2d mort. 6 s . . . . . . .....1 9 1 8 , J&D
99
Consol, m ort. 6 g .........1911, J&D
Debenture 6 s ...... ...1 8 9 6 , J&D
92
Im provem entM . 6 g ., 1897, A&O
Chic. Burl.& Quincy 4 s ..1922, F&A
98
C on.M .,5 g.,stam ped,1922, M&N
Iow a D ivision 4 s . , . . .1919, A&O
65%
Terminal 5s, g ........1941, Q.—F.
Chio.&W.Mich. gen. 5s, 1921, J&D
85% Phil. Read. & N. E. 4 s ............ 1942
Consol, o f V erm ont, 5 s .1913, J&J
70
Inoom es, series A ....... ..........1952
Current R iver, 1st, o s ..1927, A&O
65
Incom es, series B ..................1952
Det. Lans.& N or’n M. 7 s .1907, J&J
120
Phil. Wilm. & Balt., 4 s . 1917, A&O
Eastern 1st m ort 6 g .l9 0 6 ,M & 8 ..
126% Pitts. C. & St. L., 7 s ....1 900, F&A
Free, Elk. &M. V .,lst, 6S.1933, A&O
125% Schuyl.R .E .Side,lst 5 g.1935, J&D
Unstamped 1st, 6 s__ 1933, A&O
Steuben.& Ind.,lstm .,5s.l914, J&J
70
K.C. C.&Spring.,1st,5g.,1925, A&O
91
United N. J ., 6 g ............ 1894, A&O
K 0. F .S .& M . con. 6s, 1928, M&N
W arren & Frank.,1st,7s,1896,F&A
45
K.C. Mem. & B ir.,lst,5s,1927, M&S
K.
C. St. Jo. & C. B ., 7S..1907, J&J123
B o n d s .—B a lt im o r e ._______ J
A tlanta & Chari., 1st 7s, 1907, J&J
80
L. R ock & Ft. 8., 1st, 7 s .. 1905, J&J
Incom e 6 s .. . . . . . . . . . . 1 9 0 0 , A&O
102%
Louis.,Ev.&8t.L.,1st,6g.l926,A & O
Baltim ore Belt, 1st, 5 s .1990, M&N
90
2m ., 5—6 g ................. 1936, A&O
Baltim ore & Ohio 4 g ., 1935, A&O
104
Mar. H. & Ont., 6s....... 1925, A&O
Pitts. & Conn., 5 g ...l9 2 5 , F&A
56
M exican Central, 4 g . . .1911, J&J
Staten Island, 2d, 5 g.1926, J&J
13
1st oonsol.incom es, 3 g, non-cum.
Bal.&Ohio 8. W .,lst,4% g .l99 0, J&J
8
2d consol, incom es. 3s, non-cum.
C
apeF.&Yad.,Ser.A.,6g.l916,
J&D
N. Y . & N.Eng,, 1st, 7 s,1905, J&J*
115 , Series B ., 6 g . . . . ......1 9 1 6 , J&D
109%
1st m ort. 6 s .. . . . . . . . . . 1 9 0 5 , J&J
103%
Series C., 6 g . . . . . ........1916, J&D
2d m ort. 6 s ..............1 9 0 2 , F&A
102 % Cent. Ohio, 4% g . . . . . ...1 9 3 0 , M&S
Ogden. & L .C .,C on.6B ...1920,A&O
Chari. Col. &Aug. 1st 7S.1895, J&J
20
Inc. 6 s...............
....1 9 2 0
Ga. Car. & Nor. 1st 5 g „1 9 2 9 , J&J
R u tland, 1st,6 s.............1902,M&N illO 111
North. Cent. 6 s . . . . ......... 1900, J&J
2d, 5s............................1 8 9 8 ,F&A (100 102
6s.................................... 1904, J&J
Bonds.— Philadel ihia
Series A , 5 s . . . . . . . ..^.1926, J&J
Allegheny V al.,7 3-108,1896, J&J
4 % s ............................... 1925, A&O
A tlantic City 1st 5s, g., 1919,M&N
P iedm .& C um .,lst, 5 g .l9 1 1 , F&A
B elvidere Del., 1st, 6 s ..1902, J&D
Pitts. & Connells. I s t 7 s .l8 9 8 , J&J
Catawissa, M., 7 s ......1 9 0 0 , F&A
Virginia Mid., 1st 6 s . ..1906, M&S
Clearfield & Jeff., 1st, 6S.1927, J&J
117
2d Series, 6 s.................1911 M&S
Connecting, 6s....... .1900-04, M&S
3d Series, 6 s .... . . . . . . 1 9 1 6 , M&S
Del. & B ’d B r ’k, 1st, 7 s .1905,F&A 127%
4th Series, 3 -4 -5 s ..... 1921, M&S
Easton & Am . lstM .,5s.l92 0,M & N 110
5th Series, 5 s .. .... ...1 9 2 6 , M&S
Elmir. & W ilm., 1st, 6S.1910, J& J.
W est V a C .& P . 1st, 6 g.1911, J&J
Hunt. & B r’d T op ,C on .5 s.’ 95,A&O 100 %
West’LN.C. Consol. 6 g .1914, J&J
Lehigh Nav. 4% s...........1914, Q—J 110
W ilm. Col. & Aug., 6 s .. 1910, J&D
2d 6s, g old ................... 1897, J&D 109
MISCELLANEOUS.
General m ort. 4% s, g .l9 2 4 ,Q —F 104%
103% Baltimore—City H all 6 s.1900, Q—J
Lehigh Val. Coal 1st 5s,g. 1933, J&J
F u n d i n g ........1 9 0 0 , Q—J
Lehigh V alley, 1st 6 s ...1898, J&D 110% .......
W est MaryPd S B , 6 s ..1902, J&J
2d 7 s............................. 1910, M&S 131 1132%
W ater 5 s ...... ........ 1 9 1 6 , M&N
Consol. 6 .......................1923, J&D 123%
Funding 5 s . . . . . . . . . . .1916, M&N
North Penn. 1st, 7 S ....1 8 9 6 , M&N 107
Exchange 3% s............ 1930, J&J
Gen. M. 7 s________ ,...1 903 , J&J 124 126
Pennsylvania gen. 6s, r.,1910, Var 130% 131% Virginia (State) 3s, n e w .1932, J&J
Chesapeake Gas, 6 s . ... .1900, J&D
Consol. 6s, o
..... ...1 9 0 5 , Var 121
Consol. Gas, 6 s .. . . . . . . . . 1 9 1 0 , J&D
Consol. 5s, r ................1 9 1 9 , Var
5 s ............................. ,...1 9 3 9 , J&J
Collat. Tr. 4% g .......... 1913, J&I>
Equitable Gas. a* ....I'*1 "■*- * *•
P a. & N. Y . C a q a l,7 s -..1906,J&D 126 128
V Unlisted.
A A nd accrued interest.
t Last p rice this week.
Aug. 2 l
Aug. 2i
Sept. 2 „
Sept 2®
Sept. 2^
Jan. 1<>
Oct. 8
Sept. 19
Oct. 15
Mar. 2
Mar. 8
A pr. 8
Mar. 17
Aug. l l
x ex-rights.
Bid. Ask.
116%
101
76% 77%
29% 30
20% 21%
16% 16%
117
130%
119 121
104%
103
105
44
102%
114%
111
108
110
103%
__
......
118% 119%
105 106
101%
108
72
71
71
101
102%
83%
112
116
113
104
98
110
114
115
108
85
101
105
110
116
75
73
73%
Ì0 3
84%
113
120
100
110%
114%
112
102
105%
111
116%
109*" 110%
119 120
71% 72
108
116% 117
105 105%
110 111
732
THE CHRONICLE.
[V O L . L 1 X .
NEW YORK STOCK EXCHANGE PRICES (Continued)—J.CTJFE BONDS OCT. 2 6 AND FOB YEAR 1894.
IClosing Bange (sales) in 1894.
P rice
R a il r o a d
Period Oct. 26.
Lowest.
Highest.
Railroad and M is c e l . b o n d s . Inter t
and
Closing Range (sales) in 1894.
P rice
Perioa Oct. 26.
Lowest.
Highest.
M is c e l . B on ds Inter't
Amer. Cotton Oil, deb., 8g. 1900 Q - F
115isb. 111 Feb. 115 July Mo. Pac.>M«fe N 96 b, 87 Jan.
663s
A t.Top.& 8.F .—100-yr.,4g. 1989 J &
65% Oct.
77% June
>M<& » 110 b. 103 Jan.
2d 3-4s, g., Cl. “ A ” .......... 1989 A & O 1938
Pac. o f Mo.18 7s Oct.
38% Mar.
F «& A 100%b. 95 Jam
Col.Midland—Cons., 4 g.1940 F & A * 23 :
32% Mar.
18% July
* J «fe J 107%b. 99 Jam
A tl. & Pac.—G u ar.,4 g ...,1 9 3 7
4034
53% Apr.
40% Oct.
î F <fe A *102 b. 100% Feb.
W. D. incom e, 6s..............1910 J &
314 b
2% July
6% Mar.
[M«fe N 107 %b. 102 Jam
B rooklyn E lev.—1st, 6 g ..l 9 2 4 A & O 8 8 %
88% Oct. 107 Jan.
J «fe D 102 a. 97 Mar.
U nion Elevated.—6 g . . . .1937 M«fc N 86
82 June 99% Apr.
A «fe C 79 b. 71 Jan.
Canada Southern.—1st 5s 1908 J &
11114 105% Jan. 111% June Mobile & Ohio—N<
J «fe D *118 b. 111% Jan.
105% 102 Jan. 106 July
2d, 5 s.................................. 1913 M &
General mortgas
M «fe S 65
57% Jan.
45 b 32 Jan.
C ent.G a.-S .& W .lstcon.5s.l929
52% Sept. Nash. Oh. & St. L.f J <& J 132 b. 125% Jan.
Central o f N. J.—C ons.,7s.l899 Q—J 11214 b 112% Jan. 115% June
A <fc 0
99%a. 98 Jam
Consol., 7 s .........................1902 M & N 12378b 121 Feb. 124 Apr. Nat’ l Starch Mfa
>M«fe N 97 b. 88 Jan.
117
General m ortgage, 5 g . .. 1987 J &
110% Jan. 117% Aug.
*_M «fe N 104%b. 101% Jan.
Leh.«fcW.B.,con.,7s, as’ d.1900 Q -M 110
105 Jan. 111 May
* J «fe J 127%b. 123 Jan.
“
m ortg ag e5s.l9 12 M«fc N *100
100 Feb. 103% Mar.
LM <& S 108 %b. 106% Sept.
A m . D ock & Im p., o s ....1 9 2 1 J <& *114
108% Jan. 113% Sept.
>M«& N 119 b. 116% Jan.
104
Central Pacific.—Gold, 6 s .1898 J &
102 July 107% Apr.
A <fe 0 116%b. 113% Jan.
Ches. & Ohio.—Ser. A , 6 g.1908 A & O 118
114% Feb. 120% Aug.
, J «fe J 105% 100% Jan.
M ortgage, 6 g ................ .1911 A & O 119
115% Jan. 11978 Sept. N. Y. Chic. & St. L.—4 g . .
A «fe O 101 b. 97% Jan.
1st consol., 5 g ..................1939 M & N 109
101% Jan. 110 Sept.
J «fe J 110%b. 108% July
General 4%s, g ................1 9 9 2 M &
76%b 70% June 78% Aug.
J «fe J 133%b. 127% Jan.
B. & A . D iv., ls t c o n .,4 g .l9 8 9 J & J
9 6 I4
84 Jan.
96% Oct.
F «fe A 115%b. 110 Feb.
88 b 78% Jan.
“
2d c o n .,4 g .l9 8 9 J <&
89 Oct.
M
«fe S 134
131% Jan.
Eliz. L ex. & B ig S an .-5g.1902 M &
9914
96 Jan. 101% Sept.
J «fe D
71 b. t70 May
Chic. Burl. & Q.—Con., 7 s .1903 J <&
123
119 Jan. 123% June
A <& 0 128 b. 125 Apr.
Debenture, 5s................... 1913 M<& N 100iab 97 Feb. 102 Apr. N. Y. N. H. <feH.A «fe O 132% 131 Oct.
C onvertible 5 s ..................1903 M & S 102 % 101% Jan. 105 Apr.
M «fe S 87 %b. 82% Jan.
Denver D ivision 4 s .........1922 F & A
92 h 90% Feb.
94% Apr.
J .«fe D 111% 107 Jam
Nebraska Extension, 4 s .1927 M & N 893s
85% Jan.
92% Apr.
J «fe J 109% 103 July
Han.& St. Jos.-C ons., 6s. 1911 M <fe S 118 iah 115% Jan. 120% Aug.
A <& 0 115 b. 115% Apr.
Chic. & E . 111.—1st, s. f .,68.1907 J & D 115iab. 111% Jan. 118 May Norf.«fc W.—100-year, 5s, £
J «fe J
74% Apr.
Consol., 6 g ....................... 1934 A & O 1 2 2 3 4 b, 118% Jan. 124 Sept.
J «fe J 76
76 Oct.
General consol., 1st, 5 s ..1937 M & N lO lia
97 May 101 % Apr.
J «fe J 113
105%
Jan.
Chicago & E rie.—1st., 5 g . 1982 M & N 93 b, 91% June 100% Apr.
A <fe 0
87
71% July
Incom e, 5 s........................ 1982 Oct.
25 b. 27% July 35% Apr.
General, 3d, coup., 6 i
J <fc D
60
46%
July
Chic. Gas L. &C.—1st, 5 g . .1937
<fc • 90 a, 82 Apr. 90 Oct.
J «fe D
27
22% Aug.
Chic. Mil. & St. P .—Con. 7 s. 1905
«& 131
126 Feb. 131 Oct.
M<& N 77
74% Oct.
1st, Southwest D iv., 6s. .1909
«fe : *115
Chic. <fc N. Pao., 1st, 5 g
112 Jan. 117 Oct.
A «fe O f 39%b. 40 June
1st, So. Minn. D iv., 6 s ... 1910
<fe ■ "118 b. 111% Jan. 118% Oct.
Seat. L. S. <&E., 1st, gu.6.1931 F «fe A I 50 a.
Jan.
lst,C h .& P a c.W .D iv .,5 s.l9 2 1
<fe ■ 110 %b. 107 Jan. 111% June No. Pacific <fe Mont.—6 g ..l9 3 8
«fe S 30%b. 25 July
Chic. & Mo. R iv. D iv., 5s. 1926
<fc j 106%b. 101% Jan. 108% June No. Pacific Ter. Co.—6 g .. .1938 M
J «fe J
98
93 July
Wise. & M inn., Div., 5 g.1921
108 %b. 101 Jan. 109 M ay Ohio & Miss.—Con. s. f., 7S.1898 J «fe J 110%b.
.06 Jan.
Term inal, 5 g ..... ..............1914
& 110 b. 105 J uly 110% Oct.
Consol., 7 s........................ 1898 J «fe J 110%b. 106
Jan.
<fe
Gen. M., 4 g., series A . . . 1989
913s
89% Aug. 92% June Ohio Southern—1st, 6 g ...l9 2 1 J <fc D
94%
88 Aug.
Mil. <&Nor.—1st, con., 68.1913
& D 120 b. 112% Jan. 120% Oct.
General mortgage, 4 g .. .1921 M <fc N
b. 35 July
Chic. & N. W.—Consol.,7S.1915 Q - F
143 b. 138 Jan. 143 Oct. Omaha & St. Louis—4 g . . .1937 J <fc J *f 49
Oct.
Coupon, gold, 7 s.............. 1902 J & D 122% 121 July 127 May Oregon Im pr. Co.—1st, 6 g.1910 J «fe D 50 a,
103 b.
Sinking fund, 6 s . . . : ........1929 A & O 118 b. 116 Jan. 121 Apr.
Consol., 5 g ........................1939 A «fe O 57%b. 92% Jan.
46
Jan.
Sinking fund, 5 s ............ .1929 A «fe O 111
107% May 112 Mar. Ore. R.<& Nav.Co.—1st, 6 g.1909 J «fe J 109%b.
June
Sinking fund, deben., 5s. 1933 M<& N 11114 b. 106% Jan. 112% Apr.
Consol., 5 g ........... . ..........1925 J «fe D
25-year debenture, 5 s ... 1909 M & N "105 b. 104 Jan. 109 Apr. Penn. Co.—4 % g ., c o u p on .1921 J «fe J f 72 a. 60 Jan.
E xtension, 4 s ................... 1926 F & A 102 b. 97 Jan. 102 Oct. Peo. Deo. & Evansv. - 6 g.1920 J «fe J 110%b. .06 Jan.
94 b. 74 Jan.
Chio.R.I.&Pao.—6s., coup. 1917 J & J 128 b. 123 Jan. 129 Apr.
Evansv. Division, 6 g . . . 1920 M «fe S 94 b. 74
Mar.
E xtension and col., 5s.. .1934 J & J 102%
2d m ortgage, 5 g .............. 1926 M «fe N 28
97% Jan. 104 Apr.
19 Jam
30-year d e b e n tu r e ,5 s ...1921 M & S 92 a. 88% Sept. 95 Feb. Phila. & Read. —Gen., 4 g .1958 J «fe J
77
67% Jan.
Chic. St. P. M. & O.—6 s.... 1930 J & D 129 b. 119% Jan. 129% Oct.
1st pref. incom e, 5 g.......1958
30%
27 June
Cleveland & Canton.—5 s .. 1917 J & J 78 a. 70 Mar. 84 Jan.
2d pref. incom e, 5 g ....... 1958
20 b. 18% May
C. C. C. & I .—Consol., 7 g.1914 J & D "131 b.
3d pref. incom e, 5 g ....... 1958
17
a.
13% May
General consol., 6 g ........1934 J «fe J 123 b. 117 Jan. 123 Oct. Pittsburg <fc Western—4 g.1917 J «fe J
80%b.
O.C.C.&St.L.—P eo.& E .,4s.l940 A «fe O 75
69 Aug. 84% Apr. Rich. «feDanv.—Con., 6 g ..l9 1 5 J «fe J 118 b. 80% Mar.
Incom e, 4 s ......................... 1990 April.
19 a. 15 Jan.
Consol, 5 g .........................1936 A <& 0
20 Apr.
Jan.
Col. Coal & Iron.—6 g ....... 1900 F «fe A
93 b. 94 Oct. 100 M ay Rich. «feW.P. Ter.-Trust, 6 g .l8 9 7 F <& A t 87 b.
Jan.
CoLH.Yal.&Tol.—Con.,5 g.1931 M «fe S 88 b. 8 1 78 M ay 94 Aug.
Con. 1st <fe col. trust, 5 g.1914 M «&.S t 68
Jan.
General, 6 g .......................1904 J <& D 92 b. 85% Aug. 94% Aug. Rio Gr. W estern—1st, 4 g.1939 J «fe J i 33%
67%
July
D enver & R io Gr.—1st, 7 g. 1900 M<& N 115 iab. 113 May 115% Oct. St. Jo. & Gr. Island—6 g .,1 9 2 5 M «fe N
f 60 b.
Oct.
1st consol., 4 g..................1936 J «fe J
80
71 July 80% Oct. St. L. <fc San Fr.—6 g.,Cl.B.1906 M «fe N l l l % b .
Jan.
Det. Mac. <&M.—Ld.grants.1911 A St O 24 a. 22 Aug. 27% Apr.
6 «r., Class C .......................1906 M «fe N
Jan.
Dul. So. Sh. & A tl.—5 g .. .1937 J «fe J
99
93 Feb. 102 Apr.
General m ortgage, 6 g .,19 31 J «fe J 111%
94%b.
Jan.
E. Tenn. Y. <&Ga.—Con., 5g. 1956 M<& N 106ia
86% Jan. 107 Oct. St. L. So. West.—1st, 4s, g.1989 M «fe N 59%b.
July
K n oxville & Ohio, 6 g ___1925 J «fe J 112 iab. 96 Jam 114% Oct.
2d, 4s, g., in com e ............1989 J & J
18
Aug.
Ft. W. «SsDenv.City.—6 g ..l9 2 1 J «fe D 715s
66 Jan,
79% Apr. St.P.M.&M.—D a k .E x .,6 g .l9 1 0 M«& N 119%b.
Gal.H .& SanAn.-M .& P.D.lst,5g M «fe N 91 iab. 90 May
ls to o n so l., 6 g ..................1933 J & J 118 b. .15 Jan.
93% Oct.
Gen. E lectric, deb. 5s, g . . .1922 J «fe D
89 b. 68 Jan.
If
reduced to 4% g. J «fe J 101 b. 97% Jan.
95 Aug.
Hous. & T. Cent., gen. 4s, g . 1921 A «fe O 63 b. 60 Jan.
Montana Extension, 4 g.1937 J «fe D
66% Sept.
83%b. 84 Jan.
Illinois Central.—4 g .........1952 A & O 101 iab. 100 Feb. 103 Sept. SanAnt.«feA.P.—lst,4 g .,g u .,’43 J
& J
57 a. 50% Jan.
4s, g .................................... 1953 M «fe N 9 9 78b. 95% Feb. 1013s Apr. So. Paoiflo, Ariz.—6 g .. 1909-10 J «fe J
91
b. 88 July
Int. & GreatN or.—1st, 6 g.1919 M«fe N 116
109% Aug. 116 Apr. So. Pacific, Cal.—6 g ___1905-12 A «fe O 107 b. .04
July
2d 4-5s...............................1 909 M «fe S 67iab. 60 June 68% Apr.
1st consol., gold, 5 g ....... 1938 A <& O
85% May
Iow a Central.—1st, 5 g ___ 1938 J «fe D 90 iab. 86 Jan.
95 Apr. So. Pacific, N. M.—6 g ....... 1911 J «fe J 100 b. 94% July
Kings Co. E lev.—1st, 5 g .,1 9 2 5 J «fe J
70 a. 73 Oct.
85 Apr. Tenn.C. I. <fcRy.—T en.D .,lst,6 A <fe 0
72 %b. 75 Jan.
Laclede Gas.—1st., 5 g ___ 1919 Q - F
88%
81 Jan.
89 Apr.
Birmingham D iv., 6 g ..,1 9 1 7 J «fe J
77 Jan.
Lake Erie & West.—5 g ... .1937 J «fe J 115% 110% Jan. 115% Oct. Texas <fc Pacific—1st, 5 g. .2000 J «fe D 80
87
72% Jan.
L. Shore.—Con. cp., 1st, 7s. 1900 J «fe J 119iâ 116% Oct. 121% M ay
2d, incom e, 5 g ..................2000
25%
17% Jan.
Consol, coup., 2d, 7s.......1903 J «fe D 12413 b. 122 Jam 125% May Tol. A nn Ar. <fe N. M.—6 g.1924 March
M «fe N 84%
55 Mar.
L onglslan d. - 1st con., 5 g.1931 Q - J
117 b. 113 Jan. 118 Oct. Toledo <fe Ohio Cent.—5 g.1935 J «fe J 107 %b. 03%
July
G eneral m o rtg a g e ,4 g .. 1938 J «fe D
97
93% Feb.
99% M ay Toledo Peo. «feW est—4 g.1917 J «fe J 73%
68
July
Louis. & Nash. Cons., 7s. 1898 A «fe O 10913 b. 108 Oct. 113% Mar. Tol. St. L. «fe Kan. C —6 g . . 1916 J «fe D
55% Aug.
N.O. & M obile, 1st, 6 g .,1 9 3 0 J & J 117 b. 112% Jan. 120 Sept. Union Pacific—6 g .............. 1899 J <& J t 59%
107 b.
“
f
2d, 6 g . . 1930 J <& J 105 a. 97 Jan.
Ext. sinking fund, 8 ........1899 M «fe S 96 b. 90 June
10 Aug.
General, 6 g ...................... 1930 J «fe D 116 b. 109% Jan. 117 Oct.
Collateral trust, 4 % ........1918 M «fe N *f 40 b. 40 M ay
Unified, 4 g . . .................... 1940 J «fe J 75 b. 71 July 79 Sept.
Gold 6s, col. trust notes. 1894 F «fe A
86 b. 82 Jan.
Nash. Fl.«fc S h.-lst,gtd.,5 g .’37 F <& A
85 b. 76 Feb,
Kan. Pac.-D en. Div., 6 g.1899 M «fe N 106%b. .01 Jan.
91% Aug.
Kentuoky Central.—4 g .1987 J «fe J
827sb.: 82 Jam
1st consol., 6 g .............. 1919 M «fe N 76%
85 May
72 June
Louis. N. A. & Ch.—1st.,6s. 1910 J «fe J 107 b. 108 Jam 113% Mar.
Oregon Short Line—6 g ..l9 2 2 F «fe A
80%b. 75 Jam
Consol., 6 g ....................... 1916 A «fe O 95
83 June 100 Mar.
Or.S.L.«&Ut’hN.—Con.5g.1919 A «fe O 44 b. 40 July
Louis. St. L. & Texas.—6 g.1917 F «fe A
60 a. 55 July 61 Apr.
U.P.Den.«fcGulf,oon., 5 g.1939 J <fc D
37 b. 31% June
Manhattan consol. 4s........ 1990 A «fe O 95 b. 93% Jam
99% Aug. U. S. Cord.—1st col., 6 g.,1924. J «fe J
72
70 May
Metro. E levated.—1st, 6 g.1908 J «fe J 121 b. 116 Jan. 121% June Virginia Mid.—Gen.M., 5 s .1936 M «fe N
2d, 6s.................................. 1899 M «fe N HOiaa. 107 Jan. 111 Apr. Wabash—1st, 5 g .................1939 M «fe N 98 b. 70 Jam
10634
.02
Jam
Mioh. Cent.—1st, cons., 7s. 3 902 M <fc N 124% 119% May 124% Mar.
2d m ortgage, 5 g.............. 1939 F <& A
71%
65% Oct.
Consol., 5 s ........................ 1902 M«& N 108 %b. 106 Mar. 109 Sept.
Debent. M., series B ....... 1939
«fe J 22
21 Mar.
Mil. Lake Sh. & W.—1 st, 6 g.1921 M<& N 130%b. 124 Jan. 130 Apr. West. N. Y. <fePa.—1st, 5 g.1937 J
J «fe J 103%b. 97 July
Extern <fc Im p., 5 g . . . ___ 1929 F «fe A 109iab. 105% Feb. 110% July
2d m ortgage......................1927 A <fe 0 I- 24%b. 18% Feb.
Mo. K. & E .—1st 5s, g., gu.1942 A «fe O 79 %b. 76 July
83% Mar. West. Un. Tel.—Col. tr., 5s.l938 J «fe J 107%
.03 Jan.
M. K. & Texas.—1st, 4s, g . 1990 J «fe D
813s
77% Aug. 83% Apr. Wise. Cent. Co.—1st, 5 g . . 1937 J «fe J
54%b. 50% Aug.
2d, 4s, g ............................. 1990 F «& A
42%
38 June 48% Apr.
Incom e, 5 g .......................1937
8%b.
6% Oct.
Mo tb .—“ b ” indicates price hid ; “ a” price ash ed ; the range is m ade up from actual sales only.
atest price this week, t Trust
101% Apr.
112 Apr.
101% Oct.
108 Oct.
103% May
109 Api.
103% May
83% Sept.
118 Oct.
66% Aug.
133 Oct.
102 Jan.
98% Oct.
104% Apr.
128% June
110 Feb.
122% Oct.
119 Sept.
105% June
102 Sept.
113 June
134 June
115% Oct.
137 Apr.
86 Mar.
129 May
132% Oct.
88% Aug.
111% Oct.
109% Oct.
119 Sept.
74% Apr.
81 Apr.
114% Mar.
8978 Sept.
64% Apr.
34% Mar.
80 Sept.
48% Apr.
55 Apr.
39% Sept.
101% May
112 June
11178 June
97 Mar.
51 Oct.
50 Apr106 % Sept.
65% Sept.
109% Oct.
76% Oct.
113% M ay
95 Aug.
94 Aug.
29 O ct.
8078 Sept.
39% Mar.
27% Mar.
217s Mar.
88 Apr.
118% June
188 Oct.
t70% Sept.
‘ 35% Sept,
71 Apr.
69% Apr.
113% Oot.
113% Oot.
98 Apr.
62% Apr.
20% Apr.
121 Apr.
122 Mar.
102% June
89% Apr.
59% Apr.
94% Jan.
109% Sept.
98 Apr.
103 Oot.
85% Apr.
87 Apr.
88 Aug.
28% Aug.
84% Oct.
108 M ay
84% Mar
t64 Apr.
111 Apr.
103 Feb.
49 Jam
92% Apr.
109 May
97 Mar.
9278 Mar.
56% Apr.
48% Apr.
87% June
99 Oct.
107% Apr.
79 Apr.
2878 Apr.
103% Oct.
26 Aug;
109 June
76% Mar.
18 F eb.
receipts.
NEW YORK STOCK EXCHANGE PRICES—(Continued).—INACTIVE BONDS—OCTOBER 26.
SECURITIES.
Railroad Bonds.
Bid.
Ask.
SECURITIES.
B. <feO.— Dons, m ort., gold.5s.1988
W. Va. «fe Pitts.—1st, g., 5 s..1990
( Stock Exchange Prices.)
B. & O. S. W., is t , g., 4 % s ...l9 9 0
Alabam a Mid.—1st, g., guar.. 1928
89% 91
Monom R iver, 1st g.,g. 5s. ..1 919
A. T. & S. F - 2 d , is fe ia s s B .1989
OentTOhio Reor.—1st, 4 % s.l9 3 0
Col. Mid. 1st, g., 6s............... 1936 *70
Ak.«fe Ch. Juno.—1st,g,5s,gu. 1930
Atlantic «fe Danv.—1st g., 6 s ..1917
Bost. H. Tun. «fe W.—Deb. 5s. 1913
A tl. St Pac.—2d W. D., gu. 6s,.1907
Brooklyn Elevated—2d, 5 s ... 1915
B a lt St Ohio—1st, 6s, Park B .1919 120
Brunswick <fc W’n—1st, g. 4s, 1938
*#. g old ....... ........................... 1 9 2 5 ♦
ÏÏ2*" Buff. R o h. «fe Pitts.—G en .,58.1937
Bid. Ask.
SECURITIES.
Bid.
113% ......... B.R.«feP.—Roch. > P ., 1st, 6s. 1921
R och, «fePitts.—Cons. 1st, 6s 1922
107 ...... Burl Ced. Rap. <&No.—1st, 5s 1906
Consol, «fe collât, trust, 5 s... 1934
Minn, «fe St. L.—1st, 7s, gu.. 1927
Iow a C. <fe W est—1st, 7 s ..„ 1909
101
Ced. Rap. I. F. «fe N., 1st, 6s, 1920
*55
60
1st, 5s.
1921
*96% '*9 7 "
130
105
100
1QQQ *90
■Col, g.5s,1937
Ask.
"121 124%
119 121
106%
95
OCTOBER
73B
THE CHRONICLE,
27, 1894.]
NET» ÎOKK STOCK EXCHANGE PRICES.—INACTIVE BONDS—rContinued)—OCTOBER 2 6 .
SECURITIES.
Bid.
Ask,
SECURITIES.
Bid.
Flint&P.M.—1st con.gold, 5 s .1939
P ort Huron—1st, 5 s .............1939
Fla. Cen & Pen.—1st g. 5 s . ...1918
1st con. g., 5 s ........................1943
Ft Worth A R. G.—1st g., 5S..1928
Gal. Har. A San Ant.—1st, 6 s .1910
Gal. H. & 8. A .—2d m ort., 7 s ..1905
Ga. Car. & Nor.—1st, gu. 5s, g.1929
Ga. So. A Fla.—1st, g. 6s.........1927
Grand Rap. & Ind.—Gen. 5 s .. 1924
G. B.W . A St. P .—1st, con. 5S.1911
2d inc. 4 s .................................1906
Housatonic—Cons, gold 5 s .... 1937
N. H aven A D erby, C ons.5s..l918
Hous. & T. C.—W aco A N. 7S..1903
1st g., 5s (int. g td j................ 1937
Cons. g. 6s (int. g td ).............1912
Debent. 6s, prin. A int. gtd.1897
Debent. 4s, prin. A int. gtd.1897
Illinois Central—1st, g., 4s ...1 9 5 1
1st. gold, 3*38................... ...1 9 5 1
G old 4 s ..........
...1 9 5 3
Cairo Bridge—4s.............. ...1 9 5 0
Spring!. D iv.—C o u p .,6 s .... 1898
M iddle D iv.—Reg., 5s.......... 1921
C. St. L. A N . O.—T en .l.,7 S .189 7
1st, consol., 7s.....................1897
2d, 6s.................................... 1907
Gold, 5s, c o u p o n ................ 1951
Memp. D iv., l s t g . 4 s ....... 1951
Ced. Falls A Minn.—1st, 7s. .1907
Ind. D. A Spr.—1st 7s, ex. cp.1 906
Ind.D.AW .—1st 5s, g .,tr.re o ..l9 4 7
2d, 5s, gold, trust receip ts.. 1948
Inc. M. bonds, trust r e ce ip ts ----Ind. Ills. A Iowa.—1st, g, 4s.. 1939
Int. AG. N’n—1st,6s,g................ 1919
3d, 4s, g ......................... ........1921
Kings C o.-F .E l.,lst,5,g. ,gu. A. 1929
Lake Erie A West.—2a g., 5 s .1941
L. 8. A M.8ou.—B .A E .—New 7 s .’ 98
Det. M. A T.—1st, 7 s.............1906
Lake Shore—Div. bonds, 7 s .1899
Kal. A ll. A G. R —1st gu. 5S.1938
Mahon’ g C oalR R .—1st, 5 s .1934
Lehigh Y.^N.Y.—1st gu.g.4*ss.l940
Lehigh V.Term .—1st gu, 5s,g. 1941
Lehigh V ’ y C o a l-ls t5 s ,g u .g .l9 3 3
latchf. Car. A West.—1st 6s. g.1916
Little R ock A M.—1st, 5s, g ..l9 3 7
Long Island—1st, 7 s ................ 1898
Ferry, 1st, g., 4*«s................ 1922
Gold 4 s .................................... 1932
N. Y. A R ’w ay B .—1st, g. 5s. 1927
2d m ortg., in c ..................... 1927
N.Y.AMan. Beach.—1st, 7s, 1897
N.Y.B.AM.B.—1st con. 5s,g. 1935
Brookl’n AMontauk—1st,6s. 1911
1st, 5 s ................................. 1911
Louis.Evans. A St. L.—Con.5s.1939
Louis. A Nash.—Cecil. Br. 7 s..1907
E. H. A Nash.—1st 6s, g ....l 9 1 9
Pensacola Division, 6 s.........1920
St. Louis Division, 1st, 6 s... 1921
2d 3 s . . . . . . . . . . . . . . . . . . . -.1 980
Nashv. A Decatur—1 st,7 s .. 1900
S. f.,6s.—S. A N. A la............. 1910
10-40, gold, 6s.......................1924
50-year 5s, g .,........................ 1937
Pens. A A t.—1st, 6s, gold. ..1921
Collat. trust, 5s, g ................ 1931
Lou.N.Alb.ACh.—Gen.m .g.5s.l940
Manhattan R y.—Cons. 4 s . .... 1990
Manito.S.W.Coloniza’n—5s ,g .l9 3 4
Memphis A Chari.—6s, g o ld .. 1924
1st con. Tenn lien, 7s...........1915
M exican Cent. Consol.—4s, g.1911
1st, cons, incom e 3s, g .........1939
Mex. International—1st, 4s,g.l942
M exican National—1st, g., 68.1927
2d, incom e, 6s, “ A ” . . . . ........1917
2d, incom e, 6s, “ B ” . . . ........1917
Michigan Central—6 s . . . . ........1909
Coupon, 5s..............................1931
M ortgage 4 s ............................1940
BaLC.AStrgis.—Ist,3s,g.gu .l989
Mil. L. S. AW.—Conv. deb., 5 s .1907
Mich. Div., 1st, 6s................. 1924
Ashland Division—1st, 6s ..1 925
Incom es............ ...............................
Minn.A St. L.—1st, g. 7 s .........1927
Iow a Extension, 1st, 7s.......1909
2d m ortg., 7s.......................... 1891
Southwest E xt.—1st, 7s.......1910
Pacific E x t.—1st, 6s ..... ...1 9 2 1
Im pr. A equipment, 6s.........1922
Minn. A Pac.—1st m ortg., 5s. 1936
Minn.St.P.AS.S.M—lsto .g .4 s.l9 3 8
MO.K.AT.—K.C.AP., I s t,4 s ,g .l9 9 0
Dal. A W aco—1st, 5s, g u ..,.1 9 4 0
Missouri Pacific —Trust 5 s ... 1917
1st coll., 5s, g ........................ 1920
St L .A I. M .-A rk .B r.,lst,7 s.l8 9 5
Mobile A Ohio—1st ext., 6 s ...1927
St. L. A Cairo— 4s, guar....... 1931
Morgan’ s La. A T.—1st, 6 s .... 1920
1st 7s. . . . . . . . . . . . . . . . . . . . . . . 1 9 1 8
Nash*. ChatVA St.‘ L.—2d," 6 s?!l901
N. O. A. No. E. -P r . I „ g., 6 s ..1915
N. Y. Central.—Deb. g. 4 s . ... 1905
N. J. June—Guar. 1st, 4 s ... 1986
Beech Creek—1st,gold, 4 s ..1936
Osw. A Rome—2d, 5s, g.,gu,1915
U tica A Bl, R iv.—4s, g., gu.1922
N. Y. A Put.—1st, g., 4«. gu.1993
N. Y. N. H. A H.—1st, rev. 4 s .1903
N. Y . A Northern—1st, g. 5 s.. 1927
N. Y . Susq. A West.—2d, 4*38.1937
Gen. m ort., 5s, g ................ 1940
N. Y. T ex. A Mex.—Isi,4s,gu.l912
North’n Pacific—D ivid’d scrip ext.
James R iver Val.—1st, 6 s ...1936
Spokane A Pal.—1st, 6 s .....1 9 3 6
St.Paul A N . P.—Gen., 6 s ..1923
84
rTnt" of N. J .— Conv. deb., 6 s . 1908
Central Pacific—Gold bds, 6a, 1895 1 0 2 78
Gold bonds, 6s...................... 189b 102 7g
Gold bonds, 6 8 ................... JgXA 103
San Joaquin Br., 6s.............. 1900 105*3
Mort. gold 5 s......................... }S o o
Land grant, 5s, g .-.--- V : ' * q ? 2
Cal. & O. Div., ext., g. 58 ...19 18
104
NoeSR a U w iy ^ a lO -is t ,6 ^ 1 9 0 7
90
108
118
«8, gold, senes A ....... . .........190»
99*«
Craig Valley—1st, g., 5 s ..-.1 940
Warm Spr. Val., 1st, g. 5 s ..1941
Ches. O. A So.West.—1st 6s, g.1911 107 ®6
50
2,1 gg ...............•........... . ..1911
Ob. V .-G en .con .lst,gu .g,5 s.l938
117*6
Chicago & Alton—S. F., 6 s ... .1903
Louis. & Mo. River—1st, 78.1900 1155g
on 7g
..............
1900
flt7L. Jacks.'& Cble.—2d, 7S.1898 107V
Mlss.R. Bridge—1 st,s. f., 68.1912 105
Olio. Burl. A N o r —1st, 5 s . ...1 926 102*3 103*s
Debenture 6 s
....... - - -189b *95
Ohio. Burling. & Q.—5s, s. f ..l9 0 1 104
Iowa Div.—Sink, fund, 5 s ..1919 108
98*4 98%
Sinking fu n d ,4 s..................1919
88
90
Plain, 4s______________
1921
98*« 99
Ohio & Indiana Coal—1st 58.1936
1133g
114
Ohi. Mil. & St. P.—1st,8s,P.D .1898
id , 7 3-10s, P. D ................... 1898 119*3 123
l s i 7 s , $ g . , R . D ................... 1902 125*«
1st, I. A M., 7 s............ ......... 1897 118% 120*3
1 st I. & D.,’ 7 s...................... 1899 119 123
1st ,C. A M., 7s.......................1903 126
1st, I. A D. Extension, 7 s ...1908 131
1st, La C. & Dav., 5 s............ 1919 106*« 108
1st, H. A D . , 7 s .....................1910 125
1st, H. & D., 5 s .. . . . . . ......... 1910 1 0 7 V 107*3
Chicago A Pacific D iv., 6 s .. 1910 119*4 119*3
Mineral Point Div. 5s...........1910 106*3 108
0. & L. Sup. D iv., 5s.............1921 106*s 108
Fargo & South., 6s, A s s u ...l9 2 4 116*«
Inc. conv. sink, fund, 5 s . ... 1916
Dakota A Gt. South., 5s___ 1916 106*3 107*3
Mil. & Nor. main line—6 s ... 1910 118*3 120
Chic. ANorw.—30-year deb. 5s. 1921 106*8 106*3
Esoanaba A L. S. 1st, 6 s ....1 9 0 1 114
Des M. A Minn.—1st, 7 s . ...1 907
Iowa Midland—1st, 8 s.........1900 118
Peninsula—1st, conv., 7 s . . . 1898
Chic. A Milwaukee—1st, 7 s .1898 lll*s
Win. & St. P.—2d, 7s....... ...1 9 0 7 '127
Mil. & Mad.—1st, 6s............ 1905 '112
Ott. C. F. A St. P —1 s t,5 s .-1909 107
Northern 111.—1st, 5s..........1910 107
78
Ch.R.I.&P—D .M .A F .D .lst4s.l9 05
55
1905
1st, 2■‘as.......................
Extension, 4 s ....................1 9 0 5
96*s 98*3
Keokuk A Des M.—1st, 5 s .. 1923
Chic. & St.L.(Atch.)—1st, 6 s..1915
Chic. St. P. & Minn.—1 st,6 s ...1918 129 133
St. Paul & 8. C.—1st, 6s....... 1919 127 130
Ohio. & W. Ind.—1st, s. f., 6s. 1919
General m ortgage, 6 s.......... 1932 117
Cin Ham. A D.—Con. s. f ., 7s.l905 119*«
2d, gold, 4*08...........
1937
101
Cfii. D. A I r ’n—1st, gu. 5s, g.1941
78
a e v . Ak. A C o l—Eq. & 2d 6s. 1930
00.C . A St. L., Cairo div.—4s, 1939.
8t.Lou.Div.—Istcol.ts’t4s,g.l990
91V
Bpring.&CoLDiv.—lst,g. 4s. 1940
White W.VaLDiv.—1st,g. 4s. 1940
88V 90
92
Cin.Wab.&M.Div.—lst,g .4 s.l9 9 1
Cin. I. St. L. A C.—Ist,g.,4s.l9 36
95
95V
Consol ,6 s ............................... 1920
ffiCin.San.&Cl.—C on.lst,g.5s, 1928 105*s
Ul.Col. Cin. & Ind.—1st, 7s,s.f.l899 115
Consol, sink, fund, 7 s...........1914
Clove. & Mah. V .—Gold, 5 s ... 1938 104
Columbia & Green.—1st, 6s. ..1 916
Del. Lack. A W .—Mort. 7s___ 1907 132*3 133
Syra. Bing. & N. Y .—1st, 7S.1906 128 130
Morris A E ssex—1st, 7 s ....1 9 1 4 142 147
Bonds, 7s..............................1900 115
7s o f 1871............................1901 117*3
1st, con., guar., 7s.............1915 142*8 144
D.
&H.Can—Pa. t)iv.,coup.,7s.l917
144
Albany <k Susq.—1st, gu.,78.1906
129*3
1st, cons., guar., 6s..........1906 '3.18%
Bens. & Bar.—1st, coup., 7s. 1921 '144
Denver City Cable—1st, 6 s ... 1908
Denv. Tramway—Cons. 6s, g.1910
Metropol. Ry.—lst.gu. g.6s.l911
Denv. & R. G.—Im p .,g ., 5 s ...1928
75%
Duluth A Iron Range—1st 5s. 1937
E. Term. Va. A Ga.—1 s t,7 s ...1900 115
Divisional 5s...............
1930 110
Eq. A Im p., g., 5s.................... 1938
87
Mobile A Birm.—1st, g., 5s.. 1937
20
Alabama Central—1st 6 s ...1918 105
Erie—1st, extended, 7 s.......... 1897 110*4 111
2d, extended, 5 s . ................. 1919 114
Sd, extended, 4 V s ............... 1923 108% 109
L_j.
4th, extended, 5s................... 1920 112
5th, extended, 4s................... 1928 102 103
1st, con., g., f’ d, 7 s .............. 1920
Beorg., 1st lien, 6 s . . . ........... 1908 107 110
B. N. Y. A E.—1st, 7 s ..........1916 136
N. Y . L. E. <&W.—Col. tr.,6s.1922 103 lv 6
Funded coup, ,5 s ....................1969 67*3
Buff. & S. W.—Mortg. 6s___ 1908 100
Jefferson—1st, gu. g. 5s ....1 9 0 9
96*3
Coal A RR.—6s.......................1922
D ock A Im pt.,lst 6s, cur’ cy .1913
Eureka springs—1st, g., 6 s ...1 933
Evans. A T.H.—1st,c ons.,6s.. 1921
1st, general, g., 5 s ................ 1942
Mt. Vernon 1st b s ....... .....1 9 2 3
E.&T.H.—$ul. C o.B r.lst,g.,58.1930
Ev. AKich.—1st gen.5s,g.gu.l931
Evans. Indian.—1st, co n s.. 1926
115*«
Flint A P . Marq.—M ort., 6 s ...1 9 2 0
’ No price Friday; these are the latest quotations made this week.
Ask.
88
105
96%
58
*95*3
95
35
70
62
'119*9
1155s
106
104
*99
104%
100
95
85
83
107% 109
96 100
9 9 78 101
105
110
111*9
111*3
116
100
79
115*9
29
75
103*9
109*3
125
112
112
1145s
103
108
*112%
99*3
37*4
103
95*s
106
107*9
43
46*9
114
106
'118*9
113
*101
101
100
97 102
104*9
67
95
97V
70
108*4
116*«
100
'ios** 107
126%
125
131*4 135
124
149% 15 <V
164 175
120
127*«
85V
101*9
'112
'112%
123
107
104*4 105
100
104*«
108
103
101V 102 V
105*4
112%
88V
94*9 100
35
117
'117
40
SECURITIES.
Northern Pacific—(Continued.)
Helena ARedM ’n—lst,g ., 6s. 1937
Duluth AManitob a—lst,g. 6 s l 93 6
Dul.AM an D a k .D iv .-lst6 s.1 9 3 7
Cœur d’Alene—1st, 6s, g o ld .1916
Gen. ls t ,g ., 6s.................... 1938
Cent. Washington—l8t,g.,6s.l938
Norfolk A South’n—1st, 5 s,g .1941
N orfolk A West.—General, 6s .1931
New River, 1st, 6 s ................ 1932
Im p. A E xt., 6 s ... . . . . . . . . . . . 1 9 3 4
Adjustm ent M., 7 s ................1924
Equipment, 5 s . . . . . . . . . ......... 1908
Clinch Val. 1st 5s................. 1957
RoanokeASo.—1st, gu. 5s, g.1922
Scioto Val. A N. E.—1st, 4s,.1990
Ohio A Miss—2d consol. 7s. ..1911
Spring.Div.—1st 7 s . ............ 1905
General 5s...............................1932
Ohio R iver R R .—1st, 5s.......... 1936
Gen, g .,5 s ..............................1 9 3 7
Oregon A Califor.—1st, 5s, g.1927
Oreg. R y AN av.—Col.tr. g..5s.l919
Pan. Sink.F’d Subsidy—6s, g. 1910
Penn.-P.C.CASt.L.Cn.g.4*3sA1940
Do
do
Series B .........
P.C .A S .L.-lst,0.,7s................ 1900
Pitts. Ft. W. A C.—1st, 7S...1912
2d, 7 s ...................................1912
3d, 7 s.................................... 1912
Ch.St.L.AP.—lst,con .5 s,g.. .1932
Clev. A P —C ons.,s. fd ., 7S.1900
Gen. 4V s, g., “ A” .............1942
St. L. V. A T. H .—1st, 6s., 78.1897
2d, 7 s...............
1898
2d, guar., 7 s.......... ......... ..1 8 9 8
Gd.R. A L E x t —lst,4V s,G .g. 1941
Peo. AE.-Ind.B. A W .-lst,p f .78.1900
Ohio In d .A W —ls t p r e f.5 s ..l9 3 8
Peoria A Pek. Union—1st, 6s .1921
2d m ortg., 4*ss.......................1921
Pitts. Cleve. A Tol.—1st, 6 s... 1922
Pitts. A L. Er.—2 d g. 5s, “ A ” . 1928
Pitts. Mc. K. A Y .—1st 6s------1932
Pitts. Painsv. A F .—1st, 5 s ...1 916
Pitts. Shen. A L. E.—Ist,g .,5 s.l9 4 0
Pitts. A West.—M. 5s, g.1891-1941
Pitts.Y’gst’nAA.—1st, 5s,con .l927
Pres. A Ariz. Cent.—1st, 6s, g.1916
2d incom e 6 s .......................... 1916
Rich. A Danv.—Debenture 6 s .1927
Equip. M. s. f., g., 5s.............1909
A u . A Char.—1st, pref., 7 s .. 1897
do.
Incom e, 6 s ....1 9 0 0
Wash.O.AW.—lst,4s,gu.oy.,1924
Rio Gr. June.—1st, gu., g., 5S.1938
Rio Grande So.—1st, g., 5 s ... 1940
St. Jos. A Gr. Is.—2d in c ........ 1925
Kan. C. A Omaha—1st, 5 s ..1927
St. Louis A. A T. H.—
Bellev. A So. I l l —1st, 8 s ...1896
Bellev. A Car.—1st, 6 s ......1 9 2 3
Chi.St.L. APad —1st, gd.g.5s 1917
St. Louis So.—1st, gd. g. 4s. 1931
do
2d in com e,5 s.1931
Car. A Shawt.—1st g. 4 s ....1 9 3 2
St. L. A S. F.—2d 6 s,g., cl. A .19 06
E q u ip .,7 s ................... ....> ..1 8 9 5
General 5 s . . . . . . . ........
.1931
1st, trust, gold, 5s.......... ....1 9 8 7
Consol, guar., 4 s ................... 1990
Kan. City A 8.—1st, 6s, g ...l 9 1 6
Ft. S. A V .B .B g . —1st, 6 s . ..1910
Kansas Midland—1st, 4s, g.1937
St. Paul A Duluth—1 st,5 s . . . . 1931
2d m ortgage 5s.......... ........... 1917
St. Paul Minn A M.—1st, 7 s .. 1909
2 d m ort.,6 s....... ......... ..... ..1 9 0 9
Minneap. Union—1st, 6 s___ 1922
Mont. Cen.—1st, guar., 6 s ..1937
1st guar. g. 5 s .........................1937
East. Minn., 1st div. 1st 5 s .1908
W ilm arASiouxF.—1st, g ,5 s .l9 3 i
San Fran. A N. P.—1st, g., 5S.1919
South Carolina—2d, 6s...........1931
Incom e, 6 s . . . . . . . . .... . . . . . . 1 9 3 1
So. Pac. Coast—1st, g u a r.,4 s.1937
Xer.RR. As’n o f S t.L .-lst,4 V s.l9 3 9
Texas A N ew Orleans—1st,7 s .1905
Sabine Division, 1st, 6s....... 1912
Consol. 5s, g ................
1943
Tex. A Pac., E. D.—1st, g. 6s.l905
Third Avenue (N.Y).—1st 5s, 1937
Toi. A . A . A Cad.—6s................ 1917
Toledo A . A. jscG’ d T r.—g . 6S.1921
Tol. A. A . A Mt. PI.—6s...........1919
Toi. A. A . A N. M.—5s, g .........1940
T. AO.C.—Kan. A M., Mort. 4 s.l9 9 0
Ulster A Del.—1st, con.,6.,5s. 1928
Union Pacific—1st, 6 s ............ 1896
1st, 6 s ....................
.1897
1st, 6 s......................................1898
Collateral Trust, 6 s . . . . ........1908
Collateral Trust, 5s....... ....1 9 0 7
Kansas Pacific—1st 6s, g ...l 8 9 5
1st, 6s, g ............................... 1896
C. Br. U. V - F . o,, 7 s.......... 1895
Atch. Col. A Pac.—1st, 6 s... 1905
Atch. J. Co. A W.—1st, 6 s... 1905
U .P . Lin. A Col.—1st, g., 5s. 1918
Oreg.S.L. A U .N .,col.trst.,5s.l919
Utah A North.—1st, 7s.........1908
Gold, 5 s . . . . . ......................1 9 2 6
Utah Southern—Gen., 7s ..1 909
Exten., 1st, 7 s .. . . . . . . . . . . 1 9 0 9
Valley R’ y Co. o f O.—Con. 6 s .1921
Wabash—Debenture, Ser. A .. 1939
Det. A Chic. Ext. 1st, 5s, g ..l9 4 0
No Missouri—1st, 7 s...........1895
St ii.K.C.AN. —R.E.ARR.7s. 1895
St. Charles Br’ge—1st,6s... 1908
W est Va. C. A Pitts.—1st, 6S.1911
Wheel.AL.E.—1st. 5s, g o ld ... 1926
Extension A Imp, g., 5s. ...1 9 3 0
Bid.
Ask.
77V
77 V
106V
118 120
77
110
77**
118
101
85
82*»
104 104**
103% 104*»
114
141
130
*111V
11958
107%
107
105V
110V
67
130
68
99
86 * *
80
55
102
*94
108
96-
74
106
......
111V
82
67
33*«
82**
40
103 V
110V
117V
i ï ï v 114
101
100*4
100
87
101V
.........
102 V
103%
91
109 115
118% 119**
70
68
__
84
74
37**
74% 77
102*8
105 V
106
107 107*4
_
83
*60
104*4 nmrnmm
105% 105%
*35
30
100
75"
......
40
43
••■BM
•mmmrnm
82“
82
90*
*98
104% 105
104% 10 4V
■aa««
'103 V
F o r m i s c e l l a n e o u s a n d U n l i s t e d B o n d s , —See 3d page preceding.
734
THE CHRONICLE.
R oad s.
fw iije s ir a je t t i
Weekor Mo\
AND
IR a ilr u a tt f u M t i g m e je .
The I n v e s t o r s ’ S u p p l e m e n t , a pamphlet o f 160 pages, con
tains extended tables o f the Stocks and Bonds o f Railroads,
and other Companies, with remarks and statistics concerning
the income, financial status, etc., o f each Company. It is
published on the last Saturday o f every other month—viz.,
January, March, May, July, September and November, and is
furnished without extra charge to all regular subscribers o f
the C h r o n i c l e .
I he General Quotations o f Stocks and Bonds, occupying six
pages o f the C h r o n i c l e , are published on the t h i r d S a tu rd a y o f each month.
RAILROAD
R oad s.
A d ir o n d a ck .... August___
Ala. M idland... August___
Allegheny V al. Septemb’r.
Ark. M idland... August___
Atoh.T.&S. Fe. 2d wk Oct,
St. L. & San F 2d wk Oct,
A tlantic& Pac 2d w k Oct.
Col. M idland.. 2d w k Oct.
Agg. to ta l... 2d w k Oct,
A tla n ta* Char, a J u n e .........
A tlanta & W. P A ugust___
Atlan. & D anv.. 2d wk Oct.
Austin & N’ west August___
B.&O.EastLines Septemb’r.
W estern Lines Septemb’r.
Total............ Septemb’r.
BaL&O.Sou’ w.d 3d wk Oct.
B a t h * Ham’nds August___
Bir. & A tla n tic.. Septemb’r.
Brooklyn E le v .. W kOct. 20
Buff.Rooh.&Piti 3d wk O ct
Bur.C.Rap. &N Septemb’r,
Camden & A tl.. August___
OanadianPacific 3d wk Oct,
Car.Cum.G&Ch, J u n e . . . .
Car. M idland.... Septemb’r.
Central o iN . J .. A ugust___
Central P acific.. August___
Central o f 8. C .. J u n e .........
Ohar.Cin.&Chic. Septemb’r.
Oharlest’n&Sav. A ugust.....
Char.Sum.& No. Septemb’r.
Chat’qua Lake.. August___
Cheraw.&Darl.. A ugust___
Ches. & Ohio___ 3d w k Oct.
Ches. O. &So.W. A ugust___
Chic. Bur. & No. A ugust___
Chic. Bur. & Q.. August___
C h ic.* East. 111. 2d wk Oct.
C h ica g o * E rie. August___
Ohio. Gt. West’n 2d wk Oct.
Chio.Mil.&St.Pl 3d wk Oct.
Chic. &N’ thw’ n / Septemb’r.
Chlc.Peo.&S.L... 2d w k Oct.
Ohic.R’k l .& P .. Septemb’r.
Ohio.St.P.M.&O. August___
Chic. & W. Mich. 3d wk Oct.
Gin. Ga. * Ports. Septemb’r.
Cin.& Kent. Sou August___
Cin. J a c k * Mae. 3d wk Oct.
Cin.N. O .& T . P. Septemb’r.
Ala. Gt. South. Septemb’r.
N.Orl. & N . E. Septemb’r.
Ala. & Vicksb. Septemb’r.
Vicks. Sh. & P. Septemb’r.
Erlanger Syst. Septemb’r.
Cin.Ports. & V.. Septemb’r.
Col. * Maysv. Septemb’r.
Olev.Akron&Co. 2d w k Oct.
Clev. Can. & So. 2d w k A ug
Cl. Cin.Ch.&S.L. 2d w k Oct.
Peo. & East’n. August___
Cl.Lor.& Wheel. Septemb’r.
Col. Newb. & L. J u n e _____
Col. H. V. & Tol. Septemb’r.
Col.8and’y & H. 2d wk Oct.
Colusa * L a k e .. Septemb’r.
Crystal.............. August___
Cumb’ ld Valley August___
Current R iv er.. 2d wk Oct.
Denv. & R io Gr, 3d w k Oct.
Det.Lans’g& N o. 3d wk Oct.
DuluthS.S.* Atl. 2d w k Oct.
Elgin. Jcl.&East Septemb’r.
Eureka Springs. August___
Evans * I n d ’ plis 2d wk Oct.
Evans. & R ich .. Istw k O ct.
Evansv. & T. H. 2d wk Oct.
Fitchburg.......... A ugust___
F lint * P.M arq.. 2d w k Oct.
Florence............. J u n e .........
Fld.Cnt. &Penin Septemb’r.
F t. W. & Rio Gr ;Septemb’r.
Gads. * Att. U.. Septemb’r.
Georgia R R ....... 3d w k Oct.
Ga. Car’la & No. August___
Geo. S o .* F la ... i Septemb’r.
Georget’n & W ’n J u n e ____
Gr, Rap. & Ind.. 2d w k Oct.
C in .R .*F t.W . 2d wk Oct.
Traverse C ity. 2d wk Oct.
Mus. G. R. & I. 2d w k Oct.
T otal all lines, 2d w k Oct.
©randTrunk .. WkOct. 20
EARNINGS.
Latest Earnings Reported.
W eekor Mo
1894.
1893.
18,74
18,198
41,168
29,926
212,267 180,862
5,160
4,513
674,794 848.655
142,770 141,693
5^,947
60,257
27,84
31,671
905,358 1,082,276
46.902
53,309
34,317
27,173
11,810
9,488
22,865
17,018
1.594.142 1,693,567
451,173 626,659
2,045,315 2,320,226
136,102 133.824
2,512
2.627
1,786
1.728
31,793
33,868
62,778
64,629
364,505 450,097
186,379 174,596
487.000 484,000
5,028
3,568
6,576
6,145
1,155,847 1,281,944
1,437,993 1,362,915
5,65 ~
7,649
12,968
10,344
36.394
29,718
19,300
10.900
5,514
6,139
5,303
5,045
186,361 185,149
198,062 187,192
174,297 169,305
2.934.143 3,076,396
79,130 101,191
210,745 296,467
99,289
91,178
669,061 916.656
2,743,061 3,325,121
22,436
16.579
1,522,481 2,118.588
612,503 561,803
34,473
43,007
6,966
6,797
834
782
13,257
11,691
296.000 307,048
124.000 121,244
89.000
88.579
44.000
40Ì912
47.000
37,593
690.000 595,386
23,445
22,028
1,114
1,493
16,572
18,717
16,512
17,020
282,864 295,388
171.784 159,265
133,629 144,755
4,461
3,771
279,674 310,304
26,584
26,790
3,000
2,600
772
1,071
85,925
82,846
2,983
2,019
161,200 145,300
25,463
22,777
39,340
37,676
97,087
82,091
5,731
6,431
6,900
4,674
2,037
1,838
31,604
21,051
666,680 573,221
48,072
47,944
11,441
9,911
133,636
91,011
21,405
39,086
560
638
39,521
35,930
35,826
50,069
57,324
64,956
3,976
2,626
37,754
38,858
7,282
7,857
625
615
2,129
2,676
48,894
48.902
399,142 476.980
Vol. L1X,
Latest Earnings Reported.
Jan. 1 to Latest Date,
1894.
1893.
113,154
351,146
1,567,234
49,513
$
119,206
309,240
1,864,653
47,296
29,144,652 37,052,591
320,884
375,101
292,659
261,691
156,815
12,334,950
3.353,229
15,688,179
4,989,085
14,144
15.941
1,376,457
2,107,031
2,670,635
670,526
14,519,930
28,315
41,396
8,032,096
8,300,058
47,438
117,399
438,050
115,971
29,390
50,626
7,214,898
1,321,333
1,075,860
20,550,978
2,524,662
1,444,868
2,817,479
22,734,144
21,6<>8,605
701,333
12,120,490
4,562,647
1,270,566
51,042
6,455
505,242
2.494.000
996,000
793,152
357,453
363,097
5.001.000
185,612
8,264
670,275
141,308
14,293,215
4,785,789
19,079,004
5,431,903
15,383
22,437
1,483,969
2,768,855
2,919,733
640,083
16,546,214
22,788
41.380
9,700,280
9,364,264
54.954
109,173
450.849
112,257
39,035
57.570
8.103,433
1,529,713
1,521,443
25,001,779
3,526,630
2,013,637
3.494,716
26,844,914
24,670,139
790,901
14,457,968
4,984,277
1,557,218
51.954
8,823
546,279
2,957,937
1,251,959
958,745
380,523
360,201
5,906,104
200.849
11,240
776,944
9,812,551 10,889,934
1,012,564 1,116,164
887,912 1,085,495
42,224
33,611
1,941,831 2,483,516
16,467
6,696
503,738
Ï9Î35 5
10,322
585,493
5,248,538
863,852
1,348,710
750,286
44,791
217,122
81,673
859,701
4,431,143
1,886,673
88,053
1,752,222
191,101
4,961
997,908
423,776
633,578
18,394
1,482,607
316,490
37,177
83,018
1.919,298
14,343,285
6,256,674
973,166
1,723,315
680,066
54,946
290,454
102,311
1,039,539
4,882,062
2,220,647
80,175
1,163,376
252,137
7,431
1,070,422
309,762
589,523
23,417
1,765,421
350,792
44,519
111,408
2,272,139
16,065,127
1894.
1893.
Jan. 1 to Latest Date
1894.
1893
Gr.Trunk (C on.)
$
Chic. * Gr. Tr. WkOct.
51 ,513 130, ,606 2,084,825 3,18%
,648
DetG r.H .& M . Wk Oct.
25, ,314
22 ,480
764,908
861,
,509
© r.P .W a l.& B r. J u n e ....
2 ,,097
2,445
10,865
11.454
Great North’n St. l . M . * M. Septemb’r. 1,473 ,175 1,380, ,431 7,826,393 9,355
,738
East. Of Minn Septemb’r. 101 ,901 149;,770
750,540
863,.363
Montana Cent Septemb’r. 101 ,526
S3,,332 1,090,135
840,’,227
Tot.
system.
,533
1,613,
1,676
,602
'
9,657,068 11,059',328
Septemb’r.
G u lf * Chicago. Septemb’r.
2 ,,621
3 :,335
30,209
28,58!
Harts v ille ......... J
419
308
3,915
u n e .........
5,860
Hoos.Tuh.&Wil. August___
3 ,784
3,,849
Hous. E. &W.Tex Septemb’r.
4o; ,207
30, ,756
288,897
298', Ò79
12 ,200
Humest’n&Shen Septemb’r.
14, ,295
87,000
97,737
Illinois Central. Septemb’r. 1,534 ,997 2,170 ,816 12,859,737
5,770,238
Ind.Dee. & West. Septemb’r.
37i ,331
39; ,377
295,832
340,187
I n .* Gt. North’n 3d wk Oct. 131 ,467 112 ,114 2,624,290
tlnteroc. (M ex.)
40, ,669 1,804,051 3,121,266
44 ,306
1,634,648
j Iow a Central. . WkOct. 641 ,156
45, ,233
2d
w
k
Oct.
Iron R a ilw a y .. Septemb’r.
2 , ,931
3 ,614
29.978
28,967
Jack. T. & K. W A ugust___
32 ,546
35 ,428
545,901
7,585
6,382 296,724 557,019
1Kanawha&Micb 3d wk Oct.
281,178
Kan.C. Cl. & 8p . 2d w k Oct.
7 ,754
5,,902
K.C.F.S.&Mem 2d w k Oct.
83,508 91 .041
K.C.M em.&Bir 2d w k Oct.
22;i40 765,888 821,55
19 ,201
K. C. Pitts. & G, 2d wk Oct.
8 ,750
5,630 278,682 124,48
Kan.C. Sub.Belt 2d wk Oct.
3 ,983
4!,146 208,863 192,65
Kan.C. N W . . . . Septemb’r.
20 ,048
26, ,351
215,264
232,05
1 ,249
Kan.C. &Beat. Septemb’r.
884
9,012
9,84
Keokuk & West. 2d w k Oct.
7,,570
8 .,327
289,719
305,76
L. Erie All. & So. Septemb’r.
7,,265
53,629
6 ,,204
58.27
L. E r i e * West. . 3d w k Oct.
66 .475
65. ,159 2.642.072 2,891,30
Lehigh * H ud.. Septemb’r.
34 ,041
52, ,195
283,884
418,53
Long Island___ Septemb’r. 399 ,436 409, ,401
L o u is.* Mo.Rlv. Ju ly ..........
24 ,530
36 ,070
176,418
239,858
Louis.Ev.&St.L. 3d w k Oct.
34, ,970 1,139,565 1,388,377
29 ,703
Louisv.&Nashv. 3d wk Oct. 430 ,900 396, ,855 15.279,228 16,515,879
Louis.N.A.&Ch. 3d wk Oct.
62 ,901
90, ,793 2,269,768 2,885,301
Lou.St.L.& Tex. 2d w k Oct.
9 ,346
9, 328
330,199
440,372
Louisv. S ou th .. 4thwk Aug
22 ,090
2 1 ,,211
398,627
450,599
M acon & B irm .. Septemb’r.
5,,395
5 ,517
54,588
49,322
Manches & Aug. J u n e .........
981
5,630
898
7,617
M anistique........ Septemb’r.
4 ,312
55.631
266
70,736
Memphis&Chas. 2d w k Oct.
24 350
25, ,527
962,047 1,053,456
IMexican Cent. 3d wk Oct. 172;,305 183. 713 6,679,770 6,290,122
M exican Inter’l. A ugust___ 148, ,579 141 000 1,380,203 1,358,612
{Mex. National. 3d wk Oct.
79, ,035 3,3-<2,216 3,414,990
88 ,,635
Mex. N orth ern. A ugust___
45, ,397
416,508
IMexican R ’ way W kOct. 13
54; ,013
55. 532 2,466,472 2,434,771
M exican So. ... 4th wk Sep
10 ,,160
235,898
9, 452
169,467
M inneap.*St.L. Septemb’r. 173 ,960 162, 672 1,239,041 1,293,222
M o.K an.& Tex.. 3d wk Oct. 330, ,895 322, 683 7,729,915 7,876,839
Mo.Pac.&lronM 3d w k Oct. 522, ,000 501, 000 17,530,625 19,827,717
M obile & Birm. 2d wk Oct.
11,,245
211,869
7, 347
221,790
Mobile & O h io.. Septemb’r. 248, 481 225, 394 2,282,943 2,350,208
Mont. & Mex. Gif Septemb’ r.
67, 146
90, 000
838,471
740,904
Nash.Ch.&St.L, Septemb’r. 377, ,813 353, 541 3,372,678 3,573,519
Nevada Centra) August___
2 , 330
16,533
2 ,,112
28,626
NewOrl.&So’ n .. Septemb’r.
7, 776
68,209
7, 333
86,638
N .Y.C.&H.R___ Septemb’r. 3.869, ,529 4,221, 704 30,560,442 34,882,661
N. Y. L. E. & W August___ 2,274, ,224 2,523, 535 15,673,504 19,526,552
N. Y.Pa.& Ohio,, August___ 569, 445 614, 097 3,582,366 4,802,330
N. Y . Ont. & W . 3d wk Oct.
89, 599 3,027,142 3,180,809
79, 669
N.Y.Susq. & W.. A ugust___ 131, 552 158, 812 1,079,502 1,155,855
N orf.& South’n August___
294,534
29, 553
28, 107
298,424
N o r fo lk * West. 2d w k Oct. 227, 129 221 , 734 7.938,128 7,828,896
N’theast’n (S.C.) J u n e .........
331,703
43, 872
37, 384
376,747
North’n Central. Septemb’ r. 559, 588 582, 547 4,353,376 5,208,899
North’n Paoifio. 3d w k Oct. 570, 588 502, 449 12,114,963 16,188,220
Oconee & West. Septemb’r.
ft947
22,774
13,708
2 , 811
Ohio R iver......... 2d wk Oct.
549,980
18, ,747
18, 498
633,947
Ohio Southern.. 3d wk Oct.
17, 471
21 694
Omaha &St. L .. August___
32, 104 • 40, 201
259, 373
367,090
Oregon Imp. Co. August___ 351, 218 359, 716 2,534, 037
,533,780
Pennsylvania... Septemb’r. 5,498, 083 5,394, 510 42,244, 640
,303,951
PeoriaDeo.&Ev. 3d wk Oct.
16, 834
726.660
18, 078
677, 456
Petersburg........ A ugust___
32, 970
370,382
39, 953
358, 776
Phila. & E r ie ... August___ 422;,399 433, 553 2,494; 855
,437,785
Phiia. & Read’g . August___ 1,783, 666 1,896, 267 12,872, 233
,838,581
C oal& Ir.C o... August___ 1,589, 386 1,701, 185 13,455; 099
,704,593
TotalbothCos. August___ 3,373, 052 3,597, 452 26,327: 332
,543,174
Pitts. Mar. & Ch. Septemb’r.
24, 796
27,490
2, 365
3, 726
Pitt.Shen.&L.E. Septemb’r.
52, 836
367,088
327 013
58, 946
Pittsb. & W est-. Septemb’r. 148, 589 133, 614
987; 540 ,119,993
Pitts. Cl. &Toi. Septemb’r.
633,347
482 432
78, 183
68 , 054
Pitts. Pa. & F. Septemb’r.
248,035
2 3 1: 561
37, 489
30, 762
Total system.. 3d wk Oct.
,172,844
84, 484
53, 393 1 3 9 3 ;982
Pitt. Young.& A . Septem b’r. 126, 188
826; 843 ,055,078
75, 502
Pt. R o y a l* Aug. August . . .
181,000
174, 357
16, 137
16, 106
Pt.Roy.*W .Car. J u n e .........
25, 726
174;414 158,635
17, 305
Quincy 0.& K .C. Septemb’r.
206,487
171, 337
26, 807
21, 753
52, 617
470: 034 522,450
Rich.Fr’ksb. &P. A ugust___
45, 524
236,826
22 4 513
23, 136
27, 022
Rich. & Petersb. A ugust___
292; 585 396,991
Rio Gr. South’n . 3d w k Oct.
8.519
6 ,,774
52, 600
,813,767
R io Gr.West’n.. 3d w k Oct.
50, 900 1,667 085
Sag.Tuscola&H. Septemb’r.
96,944
10, 759
88 53 0
11 ,93 L»
63,106
7, ,358
56 ,604
7. 525
Sag. Val. & St. L. August___
31, 310
30: 140 1,025 ,947 ,229,553
St. L. A . & T. H. 2d wk Oct.
§, 901
2,,129
19,768
19 427
St.L.Ken’ et&So. Septemb’r.
,751,154
St.L. South w’rn. 3d wk Oct. 147, ,600 116, ;300 3,428 ,700
,276,041
St.Paul& D ul’th Septemb’r. 143, ,754 162. ,361 1,041 ,195
165, ,884 124:,672
,097,528
961 ,347
San Ant. <k A .P . A ugust___
637.593
18, ,015
636 ,444
17 ,259
S.Fran.&N.Pac. lstw k Oct.
44; ,586
Sav. Am. &Mon. Septemb’r.
39;,043 318 ,405 367,673
,081,209
Sav.Fia. & West. A ugust___ 249;,137 218;,125 2,098 ,386
207,647
215 201
l ì . ,908 . 7 ;,962
8her.8hrev.& So 2d wk Oct.
46,462
5 ,000
30,,817
7 ;,266
Silverton............ Septemb’r.
So. Pacific Co.—
,762,917
Gal.Har.&S.A A ugust___ 333,866 278,407 2,525, 4 6 4
710,471
592, ,780
76,936
70,188
Louis’ aW est.. A ugust___
Morgan’ sL&T. A ugu st___ 436,434 342,302 3,452, 557 3,33 z 2 , l l l
150,504
26,882
17,766
N .Y .T .& M ex. August___
149, ,237
,198,362
963, 129
T ex.& N . O rl.. A ugust___ 124,002 117,503
,224,976
1,007,374
,867
7,751,
832,808
Atlantic sys.ö. August___
,957,937
Pacific system A ugifst___ 3,126,996 3,184,602 19,811, 516
,182,913
Total o f a ll.. August___ 4,134,370 4,017,410 27,563, ,383
,066,360
So. Pac. of Cal A ugust___ 817,452 993,251 5,845, 831
,340,192
164,575
133,365 1,281, 685
So.Pac.of Ariz August___
629,788
79,204
61,404
So.Pac.ofN.M . August___
589, 705
114,921
19,231
146, 510
16,830
South B ou n d ... J u n e .........
679,049
68,000
81,195
587, 639
South Car. & Ga. J u n e .........
13,431
603
596
South&N or. Car. J u n e .........
6, 212
55,175
9,448
64, 501
9,251
Spar. Un. & Col. J u n e .........
933,136
77,706 104,437
670, 942
Summit Branch. Septemb’r.
795,284
79,074
602, ,512
86,199
Lykens Valley Septemb’r.
,728,420
Tot’l both Co’s Septemb’r. 156,780 190,636 1,273 ,454
93,664
843;,756 820,033
94,057
Staten Isl. R. T. Septemb’r.-
,
,
THE CHRONICLE.
OcroBER 27, 1894.]
Jan. 1 to Latest Date
Latest Earning8 Reported.
ROADS.
Week or Mo
1894.
Southern Ry e—
Rich. & Dan. ]
Char. C. & A.
Col.& Gr’nv. I 3d w k Oct. 411,350 379,960
B.T.Va. &G. I
Louis v. S o..
Georgia PacJ
10,817
11,419
BtonyCl.&OMt.. August . . .
Texas & Pacific. 3d wk Oct. 225,966 208,576
3,211
3,857
rex.S.Val&N.W Septemb’r.
22,429
22,431
rol.A.i.& N o.M . 3d wk Oct.
42,085
44,966
iol.&Ohio Cent. 3d wk Oct.
22,513
23.901
Tol. P- & West- • 2d wk Oct.
32,671
36,302
Iol.8t.L .& K .C . 3d wk Oct.
56,026
55,807
Ulster & D el— A ugust___
Union Pacific—
1,324,973
Un. Pac. R R .. August___ 1,447,925
Or.S.L.&U.N August___ 513,747 423,704
78,535
75,468
St.Jos.&Gd.Is. August___
11,567
6,554
Kan.C.&Om. August___
22,967
17,957
■Tot. 3t.J.&G.I. 2d wk Oct.
37,907
28,227
Cent.Br.......... August___
Ach.Col.&P. ) A u gu st.. ..
28,934
36,807
Ach.J.C.Js W 5
71,121
31.901
Montana U n.. A u g u st.. i .
3,130
3,706
Man.Al.&Bur. A ugust___
Gr’ d total.* c August___ 2,266,429 2,092,161
97,677 337,961
Or.Ry.&N.Co J u n e .........
U. Pao. D. & G. A ugust___ 239,449 198,196
74,044 120,174
Ft W’th&D.C. J u n e .........
W abash. . .......... 3d wk Oct. 265,413 321,862
13,461
12,531
Waco & Northw. A ugust___
West Jersey....... A ugust___ 230,791 2 3 4 ,L26
89,879 100,350
W.V.Cen.& Pitts Septemb’r.
37,210
31,046
West Ya.& Pitts. J u ly ..........
3 2,830
39,556
Western of A l a . A ugust___
West. Maryland. Septemb’r. 128,316 130,857
69,800
70,500
West.N.Y. &Pa. 1st wk Oct.
31,102
30.258
Wheel. & L. Erie 3d wk Oct.
2,151
2,131
Wil.Chad.&Con. J u n e .........
44,543
38,640
Wil. Col. & Aug. J u n e .........
5,194
7,960
Wrightsv.&Ten. J u ly ..........
2d week o f October.
13,821,758 14,385,695
33,697
5,159,662
30,711
855,408
1,422,305
692,655
1,235,725
279,911
36,739
5.331.800
38,322
845,737
1,603,988
767,076
1.446.800
291,087
9,111,761
3,193,101
541,814
72,347
696,765
269,646
247,151
229,876
27,494
14,968,129
1,228,091
1,731,026
513,654
9,190,819
107,910
1,093,673
739,061
209,072
317,352
936,534
2,332,258
978,713
11,485
239,424
44,103
11,169,077
4,103,362
655,481
113,633
909,646
315,855
348,468
551,379
27,100
18,831,785
1,855,510
2,459,821
760,866
11,200,048
12 2,134
1,208.527
886,989
236,055
294,978
929,937
2,757,136
1,231,1 i l
11,844
336,415
42,410
t Includes Milwaukee & Northern fo r all periods.
* Figures given do not include Oregon Ry. & Nav., Un. Pao. Denver &
Gulf and Leavenworth Topeka & Southwestern.
a Figures cover only that part o f m ileage located in $outh Carolina
b Includes earnings from ferries, etc., not given separately, i M exi
can currency, c Includes only half o f lines in which Union Paoifle has
a half interest, d Includes Ohio & Mississippi in both years, e Covers
4,398 miles in both years, f In June, Juiy and August Mil. Lake Shore
& West, included fo r 1894, but not for 1893: fo r previous months and
for September this road is included in both vears.
Latest Dross Earnings by Weeks.—The latest weekly earn
ings in the foregoing are separately summed up as follows:
Our preliminary statement of earnings for the third week
of October covers 37 roads and shows a loss of 2‘64 per
cent.
3d week of October.
Balt. & O h io S ou th w es t.
B rook lyn E le v a te d ...........
Buffalo R o ch . & P itts b ’ g .
C anadian P a c ific ...............
C hesapeake & O h io ..........
C hicago M ilw . & St. P aul.
Chic. & W est M io h ig a n ...
Cin. J a c k so n & M ackinaw
D e n v er & R io G ra n d e—
D e troit L a n s’ g & N orth ’n
G e o r g ia ............................... .
G ran d Trunk o f C an ad a .
I n t e r n ! & Gt. N orth ’ n . . .
K a n a w h a & M ic h ig a n .. . .
L ake E rie & W e s t e r n ... .
L ou isv. E v a n s v . & St. L .
L o u isv ille & N a sh v ille ...
L ou is. N. A lb a n y & C h ic.
M e x ica n C en tra l...............
M e x ica n N a tio n a l............
M o. K a n sa s & T e x a s ___ _
M o. P a cific & Ir o n M t—
N ew Y o r k Ont. & W est’n .
N orth ern P a c ific ..............
O h io S o u th e rn ...................
P e o ria D e c. & E v a n s v ...
P itts b u rg & W estern .......
R io G ran d e S ou th ern ___
R io G ran d e W e ste rn ___ _
St. L ou is S ou th w e s te rn ..
S o u th ern R a ilw a y * .........
T e x a s & P a cific.................
T o l. A n n A rb or & N .M ich .
T o le d o & O h io C e n t r a l...
T o le d o St. L. & K a n . C ...
W abash...............................
W heeling & L a k e E r i e ..
T o ta l (37 r o a d s )............
N e td e c re a se (2 '6 4 p .o .)..
1894.
1893.
$
136,102
31,793
62,778
487,000
186.361
669,061
34,473
13,257
161,200
22,777
35,930
39.-*,142
131,467
7,585
68,475
29,703
430,900
62,901
172,305
88,635
330,895
522,000
79.669
570,583
21,694
16,834
64,484
8,519
52,600
147,600
411,350
225,966
22,431
44,966
36,302
265,413
30,258
$
133,824
33,868
64,629
484,000
185,149
916,656
43,007
11,691*
145,300
25,463
39,521
476,980
112,114
6,382
65,159
34,970
396.855
90,793
183,713
79,035
322,683
501,000
89,599
502,449
17,471
18,078
53,393
6,774
50,900
116,300
11379,960
208,576
22,429
42,085
32,671
321,862
31,102
6,081,414
6,246,441
Increase.
$
2,278
3,000
1,212
Decrease.
$
247,595
8,534
1,566
15,900
19,353
1,203
1,316
34,015
9,600
8,212
21,000
_ _ r _____
68,139
4,223
11,091
1,745
1,700
31,300
31,390
17,390
2
2,881
3,631
292,177
........
2,686
3,59 L
77,838
$
reviously rep’ d (37 r’ ds) 6,075,684
674,794
tch. Top. & Santa E e ...
142,770
St. Louis & San F ran..
59,947
A tlantic & Pacific........
27,847
Colorado Midland........
11,810
tlantic & D anville..........
79,130
hicago & East. Illinois,
22,436
hie. Peoria & St. Louis,
33,957
licago & W est Michigan
282,864
Leve. Cin. Chic. & St. L ..
26,584
ol. Sand’ sky & Hocking.
2,983
urrent R iv e r..................
23,373
étroit Lans’g & N orth’n
1893.
$
6,196,149
848,656
141,693
60,257
31,671
9,438
101,191
16,579
42,528
295,388
26,790
2,019
24,553
Increase.
$
296,088
........
1,077
2,322
5,857
964
8,093,064
8,453,380
Mus. Gr. Rapids & Ind.
Kansas City Ciin. & Spr..
Kan. City Ft. S. <te M em ..
Kan. C. Mem. & Birm ___
Kan. City Pittsh. & Gulf.
Louisville N. A. & Chic..
Louisville St. L. & Texas.
Me munis & Charleston..
M exican R ailw ay............
Mobile & B irm ingham ...
SC. Joseph <&Gd. Island..
8t. Louis Alt. & T. Haute.
Sherman Shreve. & S o ...
Toledo Peoria & West’n..
.......
Increase.
Decrease.
$
1,664
2,226
10,->53
$
128
1,104
575
10
547
1.852
7.533
2,939
3,120
163
757
28,057
18
1,177
1,519
3,898
249
15,933
5,010
1,170
3,946
1,383
700,625
360,316
340,309
.......
Net Earnings Monthly to Latest Dates.—The table fol
lowing shows the net earnings reported this week. A full
detailed statement, including all roads from wnich 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 October 20. The next will appear in the
issue of November 24, 1894.
-Net Earnings.----.-----Gross Earnings.1893
1894.
1893.
1894.
*
$
$
$
Roads.
73,393
180,862
99,255
212,267
A llegheny V alley— Sept.
667,330
593,443
1,394,653
1,567,234
Jan. 1 to Sept. 3 0 ___
12,008
9,664
57,324
64,956
Ga. South’n & Fla.to.Sept.
76,463
132,039
589,523
633.578
Jan. 1 to Sept. 3 0 ....
15,836
42,439
174,829
210,746
July I to Sept. 3 0 ___
8,21 8
10,132
29,151
32,706
Houst. E. & W .T ex ..A u g .
79,038
69,993
267,323
248.690
Jan. 1 to Aug. 31 —
17,69<>
15,897
58,812
58,251
Ju ly 1 to Aug. 3 1 ___
22 7,004
196,712
582,547
559,583
Northern Central.b.Sept.
4,353,376 5,2 18,899 1,317,173 1,585,916
. 5,498,033 5,394,510 2,092.217 1,947,591
42,244,640 50,303,951
Deo. 170,219
Lines west P.& E ..S ept.
Dec. 220,331
Deo.1,668,134
Jan. 1 to Sept. 3 0 ....
Deo.5,253,782
58,501
64,960
Western M aryland..Sept.
128,316
130,857
350.624
312,497
Jan. 1 toSeDt. 3 0 ....
938,534
929,937
418,421
404,773
Oct. 1 to Sept. 3 0 .... 1,196,572 1,216,347
a Net earnings here given are after deducting taxes,
to Net earnings here given are before deducting taxes.
-August.
1893.
1894.
$
$
130,286
Gross earnin gs.. . . . . 113,361
73,263
Operating expenses. 59,822
Jan. 1 to Aug. 31.—
1893.
1894.
$
$
1,042,654
842,557
642,782
488,647
N e t ................
Taxes and rentals...
53,539
35,654
57,023
40,092
353,910
267,060
399,872
319,301
Surplus revenue.
17,885
16,931
86,850
80,571
ANNUAL REPORTS.
5,267
27,892
11,408
___________
9,930
1,244
56,449
844
457,204
165,027
For the second week of October our final statement cover
74 roads, and shows 4'26 per cent loss in the aggregate.
1894.
$
37,676
4,674
21,051
48,072
37,754
7,857
615
2,676
7,754
83,5 >8
19,201
8,750
3,983
7,570
64,464
9,346
25.527
54,013
11.245
18,747
69,328
17,957
31,310
11,903
23,901
$
39,340
6,900
31,604
47,944
38,858
7,282
625
2,129
5.902
91,041
22,140
5,6 50
4,146
8,327
92,521
9,328
24,350
55,532
7,347
18,498
53,393
22,967
30,140
7,962
22,5 L3
Duluth So. Shore & Atl .
Evansv. <fe Indianapolis..
Evansv. & Terre H aute..
Flint & Pere Marquette.
Grand Rapids & Indiana
Cin. Rich. & F t. Wayne
Total <74 r o a d s ) .... ....
Net decrease (4*26 p. c.>.
1893.
ST. LOUIS ALTON & TERRE HAUTE.
2,075
1,851
* Covers 4,398 miles in both years.
2d week o f October.
1894.
1893.
1894.
1893.
785
Decrease.
$
416,553
173,861
_
310
3,824
22,061
8,571
12,524
206
...._
1,180
Brooklyn Traction.
fR eport fo r the year ending June SO, 1894
J
The Brooklyn Traction has outstanding common stock of
$6,000,000; preferred stock, $8,000,000; and it owns the capital
stock of the Atlantic Av. RR. of Brooklyn, N. Y ., which in
turn ownsjthe capitalstock of the Brooklyn Bath & West,End.
The Traction Company therefore derives its income from the
earnings of said companies. On July 20, 1893, the Traction
Company paid a dividend of 3 per cent on its preferred stock
in anticipation of dividend since declared by the Atlantic
Av. Co.
The annual report states that the -Atlantic Avenue
line earned $897,536, against $781,337 in the previous
year. The receipts since July 1, 1894, for three months
show an increase of 8 per cent over the previous year
when some of the lines were under horses and of 14 per cent
over two years before, when all lines were worked by horses.
The company’s receipts last year per car mile were 18*7 cents;
expenses, 12'7 cents. In the districts where elevated railway
competition is met, business has increased very largely.
December 20, 1893, it was stated that the floating indebt
edness of the Atlantic Avenue Company was about $1,300,000,
and that it was proposed to issue $1,500,000 of bonds. The
bonds were sold for $1,290,000. Expenditures for completing
the tracks and additional equipment were $220,000. To pay
this the surplus earnings have been used to the extent of
$90,000, leaving the floating debt of the Atlantic Avenue Companv at present about $150,000. So soon as the real estate (of
which there is in value about $500,000 not needed in the oper
ation of the road) can be sold, this $90,000 and all future earn
ings will be used to pay dividends on the stock of the com
pany.
The suit against the Long Island R.R. Co. for a better ac
counting of the receipts under the contract for use of Atlantic
Avenue is still in the courts, a large amount of testimony
having been taken, all showing that tbe position taken by the
736
THE CHRONICLE.
Atlantic Avenue Company was correct. “ It has been shown
that the Long Island RR. Co. has not only not accounted for
its own receipts but has allowed the New York & Rockaway
Beach RR. Co. to use our tracks for a less rental than it was
obliged to pay under the contract. There would seem to be
no doubt as to the result of the suit showing a large amount
due this company.”
ATLANTIC AVE. R .R . TE A R ENDING JUIJE 30, 1894.
*897,536
609,985
Net ch arg es. . . . . . ____
T a x e s ...........................
.$287,551
42,850
7,086
Net in com e...............
D ividends....................
*337,487
Surplus fo r y e a r ....
Atlantic Avenue Railroad, for the year ended June 30, 1894
shows a deficit after payment of charges of $14,830, against a
deficiency of $49,697 in the previous year.
The balance sheet of the Atlantic Avenue Railroad on June
30, 1894, was in the Chronicle of Oct. 13,1894.
Sayannah Florida & Western Railway.
(F o r the year ending June 80, 1894. J
The application to the N. Y . Stock Exchange gives the
operations of the late fiscal year, by means of which the follow
mg tables have been compiled. The application states that
on April 1, 1893, the South Florida Railroad Company was
consolidated with the Savannah Florida & Western Railway
Company, becoming a part of the consolidated company
The total mileage is about 856 miles. The gauge of the road
is 4 feet 9 inches (standard gauge) and the line is laid with
steel rails weighing 50, 60 and 75 pounds. The company is
authorized under its special charter to issue stock at not less
than par to pay for improvements, additions to the property
and equipment. The amount at present outstanding is $9 412,900, divided into 94,129 shares of $100 each. The company
owns the following equipment: Locomotives. 122 ; baggage
cars, 6 ; passenger cars, 70; postal cars, 13; combination cars
o5; box cars, 1,770; flat cars, 765; stock cars, 52; express cars
53; pay and maintenance cars, 32; caboose cars, 65; total
cars, 2,861.
EARNINGS, EXPENSES AND CHARGES.
Passenger earrings.
Freight earnings___
Other earnings........
1893-4.
856
$
785,775
2,567,416
445,580
1892-3.
569
*
703,763
1,866,193
328,087
1891-2.
569
$
739,372
2,001,342
314,821
T ota l....... .........................
Operating expen ses............
3,798,771
2,533,677
2,898,043
1,914,499
3,055,535
2,083,447
Net earn in g s.....................
P er ct. o f op. exp. to earns.
A d d other in com e...............
1,265,094
(66-69)
33,282
T ota l......................... . ........
Deduct—
Interest on b o n d s ...........
T a x e s .....................................
M iscellaneou s. . . .................
1,298,376
1,130,401
1,129,626
679,620
115,274
59,588
431,864
73,698
78,294
431,864
109,402
83,663
Total
.....................
854,482
583,856
Surplus fo r dividends
*443,894
*546.545
D iv id e n d s................. ...........(6 % ) 5 6 4 ,7 7 4 (3*s%)237,786
624,929
*504,687
(5%)339,695
M iles o p e ra te d .........
Surplu s................................. *def.$120,880
972,088
(68*18)
157,538
308,759
165,002
* The total surplus June 30, 1894, was *734,963.
BALANCE SHEET JUNE 30, 1394.
Debit—
Credit—
R oad and equipm ent.. *22,973,050 Capital sto ck ................ $9,412,900
Material and supplies.
254,477 S. F. & W. consols.......
6,900,000
B ills r e c e iv a b le .......
3,237
Other bon ds.............. 6,500,o00
Due b y U. 8 . G ov’ t ___
32,677 Vouchers & pay-rolls.
208,248
“
agents........; . . .
118,904 Due other roads, & c...
90,236
“
other r o a d s ...
122,419 Interest accrued.........
67,442
Cash.................... .......
443,151 B ills payable................
92,284
L edger accou n ts.........
74,189 Ledger a c c o u n ts .........
16,030
Profit and loss..............
734,964
T ota l....................... $24,022,104
pany. To
ro offset these accounts, it has been necessary i
create a floating debt. These liabilities, while not larfe
t(>
_______ and extensive as
business and property __
so valuable
a
might in times of financial stringency become* a* s o u S S
anxiety. It may in the near future, therefore be w i2
consider some plan of funding this indebtedness, which om,ld
be easily done with your large properties now absolutely »n
encumbered.” Expenses have been kept within as narrow
limits as possible consistent with proper maintenance of
business, and it has been intended to charge every exne™f
and outlay of the present year to the current charges P S t
this reason no comparison of the figures of the present
can with justice be made with those of 1893; when othot
methods prevailed. For the reasons enumerated, although
the figures show but $40,442 as the net earnings the
directors believe that the year has been a valuable one to thl
company.
°
BALANCE SHEET AUGUST 31,1894.
®q 8 on Qn„
Plant, furniture and fixtures, &c., at bran ch es. .......
Materials, merchandise. <&e.....................................
......... i ^
Bills and accounts receivable.....
i-»ooo,038
Cash....................
541,973
Bonds and stocks.............................
i o =’? 5 9
Interest, rents, taxes, &c. (net)__........................................... ...
Patents, leases, & e.................................... ...... .............................. 3 4 0 3 1 I 3
TOtal.......................................................
*9,66L 888
Liabilities.
Preferred stock..............................................
* . AAft ¿ A ,
Common stock .......................................................
“ *>000,000
Bills p a y a b le ..................... ■
................. .............
A ccounts payable, & c........................................
i l l ’l l
Goods on consignm ent..........................™
. " ..................... .
Surplus assets over liabilities August "¿L 1894."".’ . " " " " "
81 401
T 0 ta l...............................................................
$9,661,883
Alabama & Vicksburg Railway.
CReport for the year ending June 80,1894.)
President C. G. Harvey in his annual report says that in
passenger earnibgs the decrease of $19,694 (11-71 per oenCt
consists of $10,267 in through and $9,427 in local travel, and is
owing to the general depression in business that prevails
throughout the cotton territory. In freight the traffic in
lumber, coal, fruit and general merchandise shows a fallim?
off compared with the preceding year, but the decrease is
nearly offset by an increase in cotton, grain and flour. The
cotton crop along the line was larger than the year before
but it fell below the average, and as the market price of cot
ton continued very low, business generally was light.
Operating expenses show a considerable reduction in all
departments except in maintenance of way ; in this there is
an increased expenditure of $23,894, incurred mainly on work
of a permanent character—for culvert masonry, filling trestles
and ballasting. 88,300 new ties were used in renewals or 22
per cent more than in the previous year. The cost of renew
ing old rails with new, $35.248, is heavy. It includes the bal
ance of the cost of laying 29*11 miles (20 per cent of the total
“ 5 ® ? of “ am track) with new 60-lb. rails in replacement of
old 50 and 56-lb. rails. This work was done in 1893 at a total
cost of 868,021, of which $32,937 was charged to expen
ses in that year, and the balance, $35,083 , has been debited
m the year under review.
Of the 143 miles of main track and branches, 118 miles
are laid with 60-lb. steel rails, 18 miles with 56-lb. steel
rails and 7 miles with 50-lb. steel rails. There are 23 miles
of side tracks. There are 22,098 lineal feet (4*185 miles) of
bridge structure, of which 338 lineal feet are iron and 21 760
lineal feet are wooden trestles ; there are also 238 lineal feet
of open drains. During the year 878 lineal feet of wooden
trestles and 69 lineal feet of open drains were replaced bv
permanent embankments.
‘
The company owns 17 locomotive engines (decrease 1), 1 steam
shovel, 9 passenger cars, 4 baggage and mail cars, and 488
box, coal, flat and other cars—decrease 16.
T otal........................*24,022,104
American Type Founders’ Company.
(R ep ort fo r the year ending August 81,1894.)
The report of President Allison states in part that the gen
eral business depression throughout the country greatly re
duced the demand for type and printers’ supplies and pro
duced a reduction in prices. The salaries of the President
and managers were largely reduced, these changes having
secured a saving for the year of over $48,600. The defense of
the litigation against the Central Type Foundry of St. Louis
for infringement of the Breaker patents so-called, has been
settled by the payment of a sum very much less than was
reared. An alliance has been made with the Thorne TypeSetting Machine Company, which furnishes a channel for
the consumption of the company’s products which promises
great growth.
^
Among the causes affecting the company were the failure
9r —? promoters to furnish sufficient working capital and
their burdening the company with contract obligations which
absorbed more than the scanty provision of ready capital.
r urthermore, the company did not receive from the various
ries aDy volume of accounts and bills receivable as was
at hist contemplated. It has, therefore, been necessary to
build up an asset in the form of outstanding trade credits and
accounts receivable, which tie up a large amount, now ex
ceeding a half-million dollars, of the resources of the com- f
IV o l . L I *
EARNINGS, EXPENSES AND CHARGES.
1893-94.
.. 52,793
1892-93.
143
$
168,210
367,502
. 52.586
1891-92.
143
*
2051503
441,765
45,473
1890-91.
143
$
212,080
390,318
46,003
.436,333
588,298
482,465
692,741
550,929
648,401
498,496
P. c. o f op. exp. to earns ..... (77-12)
Otlier I n c o m e .........
105.837
(82-01)
16,076
14 !,8 1 2
(79-53)
149,905
(76*88)
121,910
121,497
413
142,031
120,702
149,905
116,535
680
21,329
32,690
Earnings—
$
.129,606
..124,260
Balance, surplus....................
1,260
220
B A L A N C E S H E E T JU N E 3 0 .
Assets.
Liabilities.
Road and equ ip m en t...*3,035,080 Common stock ............... $700,000
12,001 BoDds (see S u p p l e m ’ t ) . 2,288,860
Materials, etc................
Cash.......................
119,289
Interest on bonds ac
New rails su sp e n se .........................
crued, not d u e ___. . .
30,970
M iscellaneous................
49,938 Supplies, taxes, etc . . .
31,576
Otlier railroads..............
15,420
B ep la cem 'tof roll’g st’k
41,880
M iscellaneous............
67,403
Net revenue a c c o u n t...
40,199
T o ta l..........................*3,216,308
T ota l.......................$ 3 ,2 1 6 ,3 0 8
THE CHRONICLE.
OCTOBER 27, 1894.]
737
& San Fran. Ry. Co. A, B and C bonds, May, 1894 coupons;
St. Louis & San Fran. Ry. Co, first mortgage, Missouri &
Western Division bonds, August, 1894, coupons; St. Louis
The annual statement, accompanied b y the complete text of Wichita & Western Ry. Co. first mortgage bonds, September,
President Pullman’s remarks at the annual meeting, is given 1894, coupons.
on another page. President Pullman explains at length the
Atlantic Ayenne—Brooklyn Traction.—The report of the
c o m p a n y ’ s position with reference to the strike.
The comparative statistics compiled for the Chronicle Atlantic Avenue RR. Co. to the New York State Railroad
Commissioners for the quarter ending Sept. 30 shows earnings
show the follow ing:
as follows, the percentage of operating expenses to gross earn
INCOME ACCOUNT.
ings being 62’9 per cent against 68‘62 per cent in 1893.
1891-92.
1890-91.
1893-94.
1892-93.
Pullman’s Palace Car Company.
(R eport fo r the year ending July 81,1894. J
Revenue—
9
Earnings o f oars.. . . . . . . . 8,761,935
P a ten t' royalties, manu
facturing profits, &c ..
833,132
9,200,685
$
8,061,081
$
7,871,146
2,189,211
1,941,275
1,901,178
3 mos.end.
Sept. 30—
Gross earn.
1894...................$252,275
...... 234,227
1 8 9 3 ..
Ret earn.
$93,704
73,489
Other ine.
$17,173
19,463
Charges. Bal. Surp.
$66,182
$44,695
50,909
42,043
The balance sheet Sept. 30, 1894, shows funded debt same
as June 30, 1894; loans and bills payable, $101,999 against
$130,735 ; cash on hand, $77,083 against $63,587.
The Brooklyn Bath & West End, which also is operated by
the Brooklyn Traction, shows net income for the three months
after payment of charges of $18,221 against $13,913 in 1893.
The annual report for the fiscal year ending June 30, 1894,
Total disbursements. 7,274,650 7,383,448 6,751,967 6,783,101 will be found in another column under “ Annual Reports,”
Net surplus......................... 2,320,417 4,006,448 3,250,389 2,989,223
Brooklyn Heights—Long Island Traction.—The Brooklyn
BALANCE SHEET JULY 31.
Heights RR. Co., which operates in addition to its own line the
1891.
1894.
1893.
1892.
Brooklyn City RR., the two forming, the major part of the
Assets—
$
$
$
Long Island Traction system, has reported as follows to the
Cars and equipment, in
cluding franchises.......24,248,793 21,844,689 20,517,491 19,773,463 New York State RR. Commissioners for the quarter ending
Car works at Pullman.&c. 7,500,414 7,845,275 7,460,280 7,306,092 September 30 :
Total revenue............ 9,595,067 11,389,896 10,002,356 9,772,324
Disbursements—
ODerating expenses____ 3,497,298 3,825,940 3,433,863 3,569,681
p’ld other sleep, car ass’ ns
897,352 1,037,508
947,504 1,008,324
C o u p o n interest on oonds
.............................
65,600
65,600
Dividends on capital st’k 2,880,000 2,520,000 2,300,000 2,000,000
Repairs o f cars in excess
of m ile a g e .............................. .
..................................
139,49b
Patents, U .S.andforeign. 108,864
107,463
106,306
Furniture and fixtures... 113,606
113,391
113,125
Real estate, car works,
&c., Chicago, St. Louis,
Mantua, D etroit, & c ...
1,796,620 1,783,563 1,779,653
Invest’d inoth’r car ass’ns
controlled and operated 5,273,331 5,319,977 5,192,860
Stocks and bonds owned. 7,242,195 5,559,961 4,542,354
Construction materi’l and
oper. supplies, in cl. cars
in process o f cons’n ___ 3,672,063 4,721,760 4,614,576
408,978
520,662
Cash and lo a n s................. 1,313,573
Bal. o f aocounts.......... ...1 0 ,7 7 3 ,1 4 8 11,086,586 8,497,742
99,374
112,872
1,778,058
5,116,091
3,374,185
4,663,489
554,292
2,876,762
Total assets...................62,042,606 61,791,643 53,345,051 45,654,677
Liabilities—
Capital sto ck .................... 36,000,000 36,000,000 30,000,000 25,000,000
Bonds outstanding........................... .....................
820,000
820,000
Received from sale o f old
cars leased from Cen.
Transportat’n C o....................................................
441,371
441,370
Surplus invested in the
assets o f the com ’y, less
written o ff during year*26,042,606 25,791,643 22,083,680 19,393,306
Total liabilties..............62,042,606 61,791,643 53,345,051 45,654,677
* Of this $1,155,310 is “ contingency reserve,” $1,100,000 is “ depre
ciation a ccou n t” and $23,787,296 is “ inoom e account.”
GENERAL INVESTMENT
NEWS.
American Sugar Refining.—The case of the United States
against this company for alleged breach of the Sherman AntiTrust law was brought up before the U. S. Supreme Court at
Washington this week, having come up on appeal by the
United States from the U. S. Circuit Court of Appeals for the
third circuit.
American Type Founders.—At a meeting of this com
pany at Newark, Oct. 24, an important change in the man
agement took place. Of the four directors whose terms had
expired only one—Wm. B. Mackellar—was re-elected. The
other three, namely Robert Allison of Cincinnati, the com
pany’s President; John Marder, of Chicago, its Secretary
and Treasurer, and John J. Palmer of Toronto, were replaced
by John Gill, President of the Mercantile Trust Company of
Baltimore, Robert M. Janney, of J. M. Shoemaker & Co. of
Philadelphia, and Monroe Smith. The officers will be elected
at a subsequent meeting.
Atchison Topeka & Santa Fe.—The Government investiga
tion into the alleged violation of the Inter-State Commerce
law by the officials of this company, through the payment of
rebates, resulted October 20 in the finding of several indict
ments. Of these three were against packers and cattle men
and the others against two persons at the time of the alleged
offence acting as officials of the Atchison Company, one of the
two being J. W . Reinhart.
—At the annual meeting of the stockholders held in
Topeka, October 25, an injunction was granted by Judge Foster
of the United States Court, at the instance of the Protective
Committee, restraining the election of a board of directors
unless the cumulative method of voting, as required by the
Kansas statutes, were used. The restraining order was made
returnable Monday, October 29. An adjournment of the
meeting was taken until Tuesday the 30th. A. A. Hurd,
general attorney of the Atchison system in Kansas, says that
the law on the subject of cumulative voting does not apply to
the company, and he is satisfied that the courts will so decide.
He says that the charter of the company was issued before
the law providing for cumulative voting was passed. Under
this law a stockholder may vote his stock at a corporation
election for one man as many times as there are directors to
fie elected.
Atchison Topeka & Santa Fe—St. Louis & San Francisco.
— Notice is hereby given by the receivers that in pursuance
with an order of the Circuit Court of the United States
the following coupons will be paid on presentation at the of
fice of the receivers, No. 120 Broadway, New York: St, Louis
July 1 to
Gross
Sept. 30. earnings.
1 8 9 4 ..
.$1,252,289
1893............ 1,195,792
Net
earnings.
$513,327
521,491
Other Charges, incl.
income.
rentals.
$52,428 $495,255
37,530
378,778
Balance,
surplus.
$70,500
180,243
Chicago & Alton.—Messrs. Lee, Higginson & Co., of Bos
ton, have arranged to sell to the Chicago & Alton a controlling
interest in the stock of the Louisiana & Missouri River Rail
road—the common stock at $10 and the preferred at $30 per
share. Any stockholder can have his stock included in the
sale by sending his certificates to the above-named firm. The
sale will go through probably in November. “ It is delayed only
pending some technical legal matters which are practically
settled.” The Louisiana & Missouri River Road has long been
a part of the Alton system.
Chicago Burlington & Quincy.—The Billings extension
will be opened for business October 28. It is a continuation of
a branch from Grand Island northwest. It runs from Sheridan,
Wyoming, to Billings, Montana, 146 60 miles. Of this mile
age 7'60 miles from Sheridan to Alger, Wyoming, was opened
for business July 14, 1893; 123 miles from Alger to a junction
with the Northern Pacific near Huntley, Montana, was built
this year, and from the junction to Billings, 18 miles, is used
the track of the Northern Pacific.
Chicago & Northern Pacific.—In the foreclosure suit at
Milwaukee, October 22, Judge Jenkins permitted the Bond
holders’ Committee of which Mr. Simmons is chairman to
become co-complainants with the trustee, the Farmers’ Loan
& Trust Company. The question whether the trustee has
complied with the requirements of the Illinois statutes before
beginning foreclosure proceedings will come up again for
argument.
Chicago & West Michigan.—Mr. Charles Merriam, the com
pany’s Treasurer, has sent the following circular to the bond
holders of the Chicago & West Michigan Ry. and Chicago &
North Michigan RR. companies:
Owing to the extrem e depression o f business in M ichigan, the
Chicago & W est Michigan R ailway Company was unable to m eet its
June coupons, and they were taken up by friends o f the oom pany,
who still hold them. There has been as yet no material im provem ent
in the business situation, and although the directors believe that
business w ill im prove and the oom pany will be able ultim ately to
m eet all its obligations, as it has am ply done in the past, as demon
strated by the dividends earned and paid upon its com m on stock fo r
tw elve consecutive years previous to the present depression, they are
at present w ithout sufficient funds to pay in full the coupons w hich
w ill mature November 1 and December 1 on the North M ichigan and
West Michigan bonds respectively, am ounting to $41,675 on the for
m er and $143,950 on the latter.
They propose, how ever, to pay to the holders o f those coupons the
cash at their comm and from the net earnings o f the oom pany, there
being no other available surplus.
They accordingly offer to the holders o f ooupons m aturing November
1 and December 1 one half o f the am ount o f their coupons in cash and
the other half in scrip o f the com pany, to be called “ Coupon Scrip,”
payable in ten years from date with interest at five per cent per annum,
payable semi-annually, the com pany reserving the option to prepay
the scrip at any time on sixty days’ notice, or to buy the same in the
open m arket at any time, and agreeing that no dividends shall be paid
on the stock until the com pany shall have paid or offered to pay all the
said coupon scrip.
Holders o f ooupons o f Chicago & North Michigan bonds maturing
Novem ber 1, 1894, and Chicago & West M ichigan bonds maturing
Deoem ber 1,1894, are requested to present them at the com pany’ s
olfioe at their maturity and receive one-half the amount in oash and
one-half in scrip as above. The coupons with the half-cash paym ents
endorsed w ill be held by Nathaniel Thayer and Alpb.eus H. H ardy, in
trust, as security fo r the paym ent o f the scrip issued on acoouut o f the
other half. The scrip therefore will have the same p rotection under
the m ortgage that the coupons would have had.
Columbus Street Railway.—The directors of this company
have declared a dividend of 1% per cent, payable Nov. 5, out
of a surplus on October 1 of $133,323. They also announce
that they have effected a sale of $309,000 Crosstown Railway
Company bonds, which provides funds sufficient to pay the
floating debt incurred in the completion and full equipment
of its lines, and that after discharging all such indebtedness a
considerable cash surplus will be left in the treasury. The
directors propose to resume the regular payment of semi
annual dividends. The company after the sale of the above
ibonds still retains in the treasury $85,000 bonds for future
738
THE CHRONICLE.
fVoL. L1X,
requirements. For the nine months ending Oct. 1, 1894, the
following statement is issued :
Minneapolis & St. Louis— Chicago Rock Island & Pacific
—Treasurer Purdy of Rock Island delivered this week ahoni
$3,000,000 Minneapolis & St. Louis RR. equipment bonds and re
ceived from the Rock Island treasury a check for $3,832 OOo"
This completes the Rock Island financial transactions with thè
Minneapolis & St. Louis, but the traffic contract continues as
Denver Water Company.—The reorganization of the water before, and the relations between the two companies are most
companies of Denver, Col., by consolidation into a new com friendly. The R ick Island Company has carried this Minne
pany known as the Denver Union Water Company, will be apolis & St. Louis matter as an asset and valued it on the
books at $2,700,000. The actual cash value proved to be
completed this week. The new mortgage filed ov the com $1,132,000
more.
pany is made to the Continental Trust Company of New
York, trustee, and is for $8,000,000. The bonds bear interest
New York & New England.—At Boston, October 25, 1894
at the rate of 5 per cent and mature in 1914.
Judge Colt, in the United States Circuit Court, entered an
Des Moines Northern <te Western—At Des Moines, Iowa, order authorizing the receivers of this company to issue re
Oct. 23, the Metropolitan Trust Company of New York began ceivers’ certificates to the amount of $684,629, the money
a suit in the Federal Circuit Court to secure the foreclosure realized from the sale of these certificates to be expended
of the first mortgage of the Des Moines Northern & Western only in the manner and for the several purposes set forth in
Ry. Co. The bonds aggregate $2,770,000 and the interest the order. The Judge also confirmed the Master’s report
is in default.
with the exception of the items already withdrawn.
’
Evansville <&Terre Haute.—W. H. Tilford, of New York,
Northern Pacific.—At Milwaukee, October 22 , the Northern
has been elected President of the board of directors and H. C.
Barlow President of the company. Mr. Tilford is also a Pacific receivers reported to the court upon the proposals re
ceive i for the purchase of the $5,000,000 receivers’ certificates.
director in the Louisville Evansville & St. Louis.
No bids had been made that would give the receivers thè
Florida Southern—Savanah Florida & Western.—The money at 6 per cent interest, hence they had no recommenda
Florida Southern, it is reported, has been acquired in the in tion to make. The following bids were received: Bray ton
terest of the Savannah Florida & Western (the Plant System). Ives and associates, $800,000, at 6 per cent interest and 11£
The Florida Southern comprises 248 miles of road. It has been per cent commission; Watson Brothers, $1.000,000, at 6 per
a part of the Jacksonville Tampa & Key West System.
cent and 1'45 per cent commission; First National Bank of
Indiana Railroads Tax Decision.—A dispatch from Wash Milwaukee, $50,000, at 6 per cent and 2 per cent commission*
per
ington Oct.22 says: The United States Supreme Court to-day re Dunn Brothers, New York, $50,000, at 6 per cent and
fused a rehearing of the Indiana railroads tax cases decided at cent commission: also $50,000 at 6 per cent, with 1 per cent
the last term of the Court. The cases involved the legality of commission; Hopkins Brothers, New York, $20,000 at par, if
the railroad tax law of Indiana, under which the State 6 per cent interest was paid, or at 98 cents on the dollar if 5.
obtained judgment for back taxes which the railroads had per cent interest was paid. The court directed that all of the
refused to pay on the ground that the increased assessments bids received be thrown out, and that the matter of disposing
of the certificates be referred back to the receivers with
were illegal.
power.
Jacksonville Louisville & St. Louis.—A meeting of the
The only bid that had been presented by Mr. Ives and his
consolidated mortgage bondholders of the Jacksonville Louis friends
was the following:
ville & St. Louis Railroad Company was held in Philadelphia
I hereby bid and offer to take $800,000 o f the first $2,500,000 o f the
this week to consider what action should be taken by them in certificates
to be issued by you in accordance witb your advertisement
view of the fact that the first mortgage bondholders, whose o f tne 1 2 th inst.* provided a bankers’ com m ission o f L1« p e r c e n t be
paid,
and
provided
further that if any greater comm ission be allowed
claim takes precedence, are about to fore. lose. R. F. Kenny
and J. H. Dunn, who were appointed a committee to prepare other parties by you, the same shall be allowed to mvself.
B e a y t o n I v e s , for him self and associates.
a plan which would best protect their interests, filed their re
B y Si l a s W . P e t t it .
port. They advise that the consolidated mortgage bondhold
Late Friday afternoon, Oct. 26, the following official an
ers subscribe pro rata to their holdings a sufficient sum to pay nouncement was made:
off the first mortgage bonds, principal and interest, amount
“ The receivers of the Northern Pacific Railroad Company,
ing to about $300,000, which, it is said, was agreed to.
through the Chairman of their Finance Committee, Mr. Rouse,
Knickerbocker Trust (New York City).—A special meeting have successfully negotiated the sale of $3,500,0 )0 receivers’'
of the stockholders of this company will be held November 8 , certificates to the General Reorganization Committee repre
1894, for the purpose of voting upon a proposed increase of the sented by Mr. Edward D. Adams, Chairman, upon terms bet
capital stock from $750,000 to $1,000,000.
ter than any heretofore offered by anybody—all bids pre
Metropolitan Traction.—An official statement issued this sented at Milwaukee being rejected as less favorable. This
ensures the retirement next Wednesday of the certificates
week gives the following facts regarding the company.
The eapital stock outstanding on October 1 was $27,301,650, against temporarily carried by Mr. Ives and associates. The marked
w hich the com pany had cash and accounts $3,362,632, investm ents improvement in earnings, together with this successful issue
$23,939,018, m aking a total o f $27,301,650. U pon these investments of certificates, also ensures the payment of the interest ma
the M etropolitan Street Bail way alone is said to be earning 5 per oent
Besides the investm ents in com pleted roads the com pany owns the turing Jan. 1, 1895, on the $43,993,000 first mortgage bonds,
Columbus & Ninth Avenue Cable Boad, 6 ^ m iles long, extending from and provides for all the present needs o f the receivership.”'
53d Street to 110 th Street,the Lexington Avenue Cable Boad, 1 1 miles This result apparently confirms the position taken by the
long, extending from 23d Street to the Harlem B iver and the L enox
Avenue Underground Electric Boad, 5 miles long, extending from receivers and the Reorganization Committee a few weeks
110th Street to the Harlem Biver. The Columbus & 9th Ave. Boad is ago, when they presented to the Court a financial plan which
now operated by horses, but is earning interest on its bonds, the L e x was temporarily held in abeyance.
ington Avenue Boad is not yet opened and the L enox Avenue Boad
As to the application of the second and third mortgage
w ill be finished about January 1. The com pletion o f these lines w ill
give tw o distinct lines from the B attery to Harlem Biver. The Trao- bondholders to be included in the foreclosure suits, the court
tion Company owns o f the issues o f these com p an ies: Columbus overruled a demurrer that was made and allowed the bond
& 9th A ve. 1st m ortgage bonds, $3,000,000; capital stock, $3,000,000; holders to become co-complainants in the suit with the
Lexington Avenue 1st m ortgage bonds, $5,000,000; capital stock
$5,000,000. When these lines are com pleted the com pany will ow n trustee.
and control 143 m iles o f surface railroad. The 120 miles in operation
The full text of the opinion of the court dismissing the peti
show an increase in earnings fo r September over September last year tion for removal of Receiver Oakes is at hand, and from it
o f m ore than $50,000.
are taken the following extracts:
A Philadelphia dispatch also quotes Mr. P. A. B. Widener
W ith respect to the Booky Fork & Cooke City Bail w ay Co., and the
a director, as saying in regard to the company that:
E ock y Fork Coal Co., but a w ord need be said. The Master has found
1, 1894,
Gross receipts......................$418,734 I Total net in com e....$223,385
N et........................................ 220,952 I F ixed c h a r g e s ....... 1 3 2 ,3 0 7
Other in com e..................
2,433 i B alance surplus....... 91,078
I Total surp. on Oot. 1, ’ 94. 133,323
N IN E M ON TH S EN DIN G O C T O B E R
that-no_ gains were made by directors. I t further appears that while
the price agreed to he naid for the property in question was per
haps large in view o f the original cost o f the property, it yet is
ctfiarly m anifest that the acquisition o f the coal m ines in Montana,
and the access thereto by rail, were urgent and essential, and that to
have permitted them to pass under the dominion o f rival companies
w ould have been—with respect to the then necessities o f the company,
and without regard to the probable profitable nature o f tbe enterprise
It was stated in the Chronicle recently that the Metropoli in tue future when the territory should have been settled up and the
tan Street Railway was operating all the lines of the Traction demand for coal greatly increased—a breach o f duty, if any reasonable w ay existed by w hich they could be acquired by the Northern
system. This is true except as regards the lines mentioned Pacific
Co. This is clearly dem onstrated by the fa ct that thereby the
above which are not fully completed or in operation. On the Northern Pacific Co. has been enabled to obtain a large amount of
other hand it was not stated, nor was it intended to be implied, coal supply at its door, instead o f transporting sueb supply from the
that the income account of the Metropolitan Street Railway Far East at great expense. And the figures demonstrate that in fou r
years’ time the com pany has saved in the purchase price o f coal, and
was in any respect the income account of the Traction Com in
the mileage saved in distribution, over $2,000,000. I need not
pany. On the contrary a very large portion of the rentals further discuss this branch o f the ease. I fu lly agree withjthe Master
paid by the railway company simply revert to the Traction m his conclusion that with respect to this transaction Mr. Oakes not
did not fail in the discharge o f his duty, hut therein was vigilant
Company as holder of the securities of the various companies only
and active to the great benefit o f the trust estate in his keeping.
in its system. Just what these securities are has never been
I shall not here enter further into a consideration o f the transac
made known, but they include a controlling interest in the tions which resulted in the form ation of the Chicago & Northern
acific Bail way Cq., fo r with that Mr. Oakes had nothing to do. I
stock of the Broadway & Seventh Avenue, the Broadway P
not here consider the question whether there was obligation upon
Surface, the 23d Street, the 6 th Avenue, the 9th Avenue and need
the part o f the owners o f those terminal properties to put them in the
the Belt Line, as well as the entire capital stock of the Metro Chicago & Northern Pacific Co. at cost. The question, so far as con
politan Street Railway. It is said a full statement of the cerns Mr. Oakes, is whether the rental agreed to he paid b y the
Northern Pacific Co. was, in view of the then existing conditions and o f
company’s affairs will be published as soon as the new lines the
future prospects o f use o f those terminals, a reasonable and proper
are completed. Such a statement is needed and should be lease to be made. I have carefully considered the Master’s report
furnished the stockholders at regular intervals—brief reports upon that subject, and I agree with his conclusion that it cannot be
that the rental reserved to be paid was in the then conditions
of earnings at least quarterly and complete reports annually. - said
either exorbitant or im provident. The evidence not on ly does not
Last year its gross earnings decreased $500,000, but by the introduc
tion o f econom ies w e managed to so reduce expenses as to enable us to
earn within a small fraction the fu ll 5 per cent dividend on the cap
ital stock. Our earnings are now increasing at the rate o f $50 000 a
m onth, and b y the middle o f November there will be a further increase
o f $ 2 ,0 0 0 a day from the Columbus A venue line, w hich will be opened
by that time.
O
OCTOBER
27, 1894.1
THE CHRONICLE.
-furnish
5 , am>nort to the contention, but establishes the proposition that
support r o tn
d itio n 3 and ia any reasonable view o f the
under. 5 a fo r the future, the terms o f the lease w -re fair and reasonprospeetsfor
idence that with respect thereto Mr. Oakes was
ofn e e lile n e e in the discharge o f the duty cast upon him.
th l8 gubject thè attention that m y limited tim e w ould
1
J r am constrafned to the conclusion to w hich the Master
a r r i v e d -t h a t the charges against Mr. Oakes are unfounded in fa ct
anTt
investigation should have been had because
^ Z ì ì r / a* Presented upon the form er hearm g o f the petition, left
tmnff’s unexplained with respect to w hich it was proper—as they
! oni t ^ thgft hon?r and integrity o f an officer o f the court charged
^ t h badh ig h \ n d responsible t ru s t-th a t the court should be fully
o ln r ^ t h a t the integrity o f its officer is not subject to im peachm ent,
investìgation h a i in the judgm ent o f the court, fully and com orated Mr. Oakes. H ow ever painful m ay have been the
« ìd la f through which he was called to pass, it is a satisfaction to be
assured that the thorough and exhaustive investigation leaves his
character for integrity w ithout spot and without blemish. The petition
■vóli therefore be dismissed.
Mr H. S. Redmond this week declined the position of direc
tor of the Northern Pacific on the ground that as a member of
the second mortgage bondholders’ committee it would not be
advisable for him to be a member of the Board.
Ohio Southern.—The branch from Jeffersonville to Lebanon,
a distance of 42 miles, is about half completed. This exten
sion will give the Ohio Southern an entrance into Cincinnati
via the Cincinnati Lebanon & Northern.
Pennsylvania Poughkeepsie & Boston.—The judicial sale
of the Pennsylvania Poughkeepsie & Boston Railroad has
been postponed again, the date of sale to be advertised later.
Pittsburg Akron & Western.—A press dispatch from
Akron, Ohio, Oct. 18, savs that attorneys for over 100 credittors of the Pittsburg Akron & Western Railway Company,
with claims aggregating $48,000, have given notice that they
will ask to have set aside the sale of the road, which was
made Oct. 17.
Philadelphia & Reading.—At Philadelphia, October 23,
Special Master Crawford filed his report on the petition of the
receivers of the Philadelphia & Reading for permission to
pay the 2% per cent commission to the reorganization syndi
cate, and strongly recommended the adoption of the EarleOlcott plan for the reorganization of the company’s affairs.
After reviewing the case at length, Mr. Crawford stated that
in his opinion the prayer of the petitioners should be granted,
and recommended the following order : “ It is ordered that
the Philadelphia & Reading RR. Co. and the receivers be and
they are hereby authorized to enter into the agreement an
nexed to the petition filed Sept. 25, 1894, respecting the plan
for the partial readjustment of the company’s affairs, and in
case the plan be carried into effect to make the payments
therein stipulated for.”
The following embrace some of the important points in the
report:
It is the duty o f the receiver appointed upon a b ill o f incom e m ort
gage bondholders to p ay or provide fo r the interest upon the general
mortgage bonds to avoid foreclosure. So fa r as the petition asks ac
tion by the court and fo r authority to the receivers and the com pany, it
is entirely fo r the administration o f certain assets in the receivers’
hands fo r the paym ent o f certain pressing debts, and that authority
is to be contingent upon the subsequent approval o f the security hold
ers and stockholders, all the parties in interest. No substantial offer
of better price was made fo r the assets proposed to be sold, and it seems
that the comm issions proposed fo r in the plan are not unreasonable
in comparison with those w hich the present receivers have been author
ized to pay. " I f the petition is not granted, it w ould aid its opponents
in depriving the w hole body o f the security holders and stockholders
of the opportunity o f approving and consum m ating the scheme.” The
Master does not think that the granting o f the prayer w in be m isun
derstood b y the parties in interest, nor does he think that the consent
of the court should be withheld because the parties in interest,
by giving their assent to the plan, w ill thereby authorize the Olcott
Committee to proceed w ith foreclosure, should the plan p rove unsuc
cessful. “ I do not think that the provisions fo r the v otin g trust are a
ground fo r objection to the granting o f the prayer o f the petition.
Such a votin g trust was held valid in the fu lly considered case o f Mo
bile & Ohio R ailroad Company vs. Nicholas, 98 Alabam a.” A number
of other precedents are also cited. The report closed with the recom
mendation fo r an order, as previously stated.
The Master’s report presents the arguments of Mr. Dickson,
counsel for the receivers, and also of the other gentlemen
who appeared in the case last week. These arguments, as
reported in the Philadelphia papers at the time, were in part
as follows:
The Olcott Committee, Mr. D ickson said, offered the com pany
$19,000,000—$9,000,000 b y giving credit o f ten years upon ten gener
al m ortgage coupons dow n to and including January 1 ,1 8 9 8 , and
$ 1 0 ,0 0 0 ,0 0 0 b y providing fo r the sale o f $ 1 0 ,0 0 0 ,0 0 0 collateral trust
bonds at par. They asked as a condition that the receivers and the
com pany should agree to pay the interest accrued and accruing on the
general m ortgage coupons. This m ust be paid some time or other, as
the law gives interest on the overdue coupons, and the amount o f registered,bonds w ithout coupons is only a little more than $3,000,000. The
committee ask as a consideration that they should be paid a comm is
sion o f 2 ^ per cent upon the amount they agreed to advance fo r the
purchase o f the interest, and that the coupon trust certificates shall be
redeemed out o f the first earnings available fo r the purpose at 105.
The general m ortgage bondholders are to have the option o f taking the
trust certificates themselves, and in that event they w ill receive the
bonus o f five per cent fo r giving the ten years extension.
The proposed subscription to the $10,000,000 collateral trust bonds
at par w ould certainly be a m ost favorable transaction fo r the_ com
pany. The proceeds w ould be applied to the paym ent o f the receivers’
certificates, the accrued floating debt and the equipm ent notes and
car trust. A ll o f these must be provided fo r under any plan o f reor
ganization, and they are either prior in lien to the general m ortgage
bonds or they are secured on property w orth m uch m ore than the debt,
so that the equity m ust be protected.
A ll o f these liabilities are drawing interest at six per cent and the
collateral trust bonds are to bear interest at five per cent. Judging by
the past the incom e to be derived from the collateral w ill m ore than
suffice to pay the interest, and if so the bonds are w orth
par.
I f they are w orth m ore than 70 per cent, at w hich
the syndicate will take them, the creditors and stockholders o f the com
pany have the privilege o f taking them themselves. It was thought,
how ever, that some o f the holders w ou ld nrefer to pay a sm all cash
739
contribution, and if they elect to give the com pany 3 per cent of the
par value o f their holdings, then the plan w ill be declared effective
and the syndicate w ill take the bonds at 70, less 2 ^ per cent.
[The incom e bonds and stock together aggregate about $100,000,000,
three per cent on which w ould yield #3,000,000, so that if the syndi
cate were to take the entire $10,000,000 collateral trust bonds at 70,
less its commission, the com pany w ould still receive, as a result o f the
com bined transaction, $9,750,000, equal to 9 7 ^ fo r the bonds. The
syndicate, how ever, will have no opportunity to purchase said bonds
unless the stockholders and incom e bondholders forego their option to
take them at par.—E d .]
_ ^ ,,
The Court is-not asked to approve o f its provisions generally, but the
injunction granted against the com pany w hen the receivers were ap
pointed was to prevent the m anagers from entering into any contract
w hich would im pose a new liability, and as the plan does n ot contem
plate an im mediate w inding up o f the receivership b y the paym ent o f
the unsecured floating debt, it was essential that the Court authorize
the receivers to make the paym ents o f interest fo r the coupons and o f
the commissions to the tw o guaranteeing or purchasing syndicates.
These receivers, with the approval o f every one, have gone on p ro
viding for the floating debt, and they negotiated $5,000,000 o f com
trust certificates, with which they took up the Speyer loan. The proposed
sale o f the collateral trust bonds is a substantially identical transaction,
if they can negotiate an arrangement whereby these bonds will bring
into the treasury o f the com pany their face value, and they can take
up a preferred indebtedness o f an equal amount, which m ust ulti
m ately be provided for, a great step will have been taken tow ard the
ultimate reorganization o f the com pany.
In a like manner, if they can secure the use o f $9,000,000 fo r the
necessary purposes of the com pany, and the extension o f an equal
amount o f general m ortgage coupons fo r 1 0 years, they w ill relieve
the com pany from peril, at least during that time. This is their p±ain
duty as receivers. Appointed at the suit o f a third preference incom e
bondholder, it is their first duty to keep dow n the charges on all prior
encumbrances, and if unable to pay the interest upon any to avert
default b y securing an extension. This is what they have been doing
in respect to the car trust and equipment notes—paying part and re
new ing part. This is what they did w ith the Speyer loan, m aking p ay
m ents on the loan and renewing the balance. W hy should n ot they
do the same with the general m ortgage interest 1
John F. Gleason, representing first incom e m ortgage bondholders,
said his clients were anxious to pay what was reasonable and requisite
to habilitate the property. He was sure that no one w ould take the
bonds at par unless under the spur and coercion o f the plan. H e
analyzed the provisions of the incom e bonds to show that payments
m ade were in violation o f them.
Mr. John R. Dos Passos stated that he appeared in behalf of the F itz
gerald Committee and fo r Mr. Whitney, to protest against the granting
o f the petition. H e said the plan was extravagant—that it was im pos
sible to look on it but with suspicion. He charged the receivers w ith
spending the time w hich the law requires shall be given to the mainte
nance o f the property in getting up and advocating reorganization
plans. H e declared that the purpose was to get the approval o f the
Court to the plan, and then use it as a bludgeon to get the non-assent
ing security holders to assent to it. Addressing Receiver Welsh, he
claimed that the $ 9 ,0 0 0 ,0 0 0 w h ich the syndicate had subscribed to
w ou ld have been subscribed to b y his comm ittee at par. Mr. Welsh re
plied that the offer had never been made before.
Master Crawford appended to his report an exception filed
by Mr. Bijur, pointing out what to him appears to be the un
precedented nature of the action asked for, and urging that
the issues be referred to a Master, in order that evidence may
be taken as to the exact relation to be established between the
receivers on the one hand and the management and the com
mittee on the other, etc,
Southern Railway.—The following are the directors of the
Southern Railway Co. elected at the stockholders’ meeting in
Richmond, October 23: A. L. Boulware, oi Richmond; C. H,
Coster, Harris C. Fahnestock, Thomas F. Ryan, Samuel
Spencer, Anthony J. Thomas, Samuel Thomas and J. Hood
Wright, all of New York, and Skipwith Wilmer, of Balti
more. Mr. A. L, Boulware, who heads the ticket, is President
of the First National Bank of Richmond and of the Rich
mond Clearing House Association. Skipwith Wilmer is a
prominent lawyer of Baltimore and represents all the Balti
more interest. Messrs. Spencer, Coster and Wright are of the
firm of Drexel, Morgan & Co. Samuel Spencer was re-elected
President by the new board of directors.
St. Louis Southwestern.—Mr. Edwin Gould, Vice-President
of this company, announces that the entire amount needed to
pay the November interest on the company’s first mortgage
bonds is now on deposit in New York. The road’s traffic is at
present showing a large increase.
Union Pacific.—Notice is given that coupons due July 1,
1894, on the collateral trust 6 per cent bonds will be paid on
presentation at the office of the Union Trust Co., of New
York, No. 80 Broadway, on and after October 24, 1894. The
payment is made by the Union Trust Co., as trustee under the
mortgage, out of funds received by it as trustee from the col
lection of interest upon certain of the bonds held in the collat
eral trust, including doubtless interest on the Colorado Central
bonds, payment on which was ordered last week. It is also
said that the receivers of the Union Pacific Railway Co.
have decided to apply to the court for authority to pay the
coupons, amountiog to $816,870, from the first mortgage 6 per
cent bonds, which likewise matured July 1, 1894. Payment
will probably be made some time in November.
The reports of Special Master Cornish respecting non-paying
roads and the petition of the receivers to be relieved of certain
contracts, which were mentioned last week, have now come
to hand in pamphlet form. The recommendation that the
Carbon Cut-Off, Brighton & Boulder Valley, Junction City &
Fort Kearney. Omaha & Republican Valley, Salina & South
western and Kansas Central be continued part of the system
on certain terms calls for no further statement, since these
lines have no bonds in the hands of the public, they being all
deposited in trust as part security for Union Pacific collateral
trust bonds. The following are the findings respecting the
more important of the “ non-paying lines:”
Regarding the Kansas City <& Omaha RR. Oo., tlie Master says that
from O ctober 13,1893. to July 31, 1894, inclusive, the gross earnings
from operation amounted to #96,397 and the operating expenses and
taxes to $137,248, the result being a net deficit of $40,851, which has
been borne and paid b y the receivers herein. For the period after
740
THE CHRONICLE.
July, 1894. the evidence is that such operation w ill result in continu
ing loss. H e further finds that the deficiency constitutes a ju st and
proper charge to the am ount o f 6 8 per cent thereof upon the property
o f said St. Joseph & Grand Island RR. Go.. 14 per cent upon the
Omaha & R epublican V alley R y. Co. and 18 per cent thereof upon the
property o f the U nion P acific Railw ay Company. He recom m ends
that the receivers be allow ed to continue the operation o f the Kansas
City & Omaha RR. until the further order o f the Court herein.
On the A tchison Colorado & Pacific RE. and the A tchison Jewell
County & W estern R R ., together, fo r the period from October 13,1843,
to Ju ly 31 ,1 8 9 4 , inclusive, the gross earnings amounted to *303,673,
and the operating expenses and taxes to *3 L1,344, the result being a net
deficit o f *7,671. Such deficit has been borne b y the receivers by re
duction in the am ount o f rental received from the Missouri Pacific Ry.
Co. as lessee o f the Central Branch Union Pacific RR. and its leased
lines. Said deficiency under said lease he finds constitutes a ju st and
proper charge upon the pronerty o f the Central Branch Union Pacific
R R ., and should be paid by said receivers out o f the revenues derived
from the operation o f the last-named railroad com pany. He further
reports that all questions betw een the receivers herein and said Mis
souri Pacific R ailway Co., arising under said lease, are expressly
reserved from the findings herein, the same not having been em
braced in the order o f reference upon which this report is made.
As to the petition of the receivers to be relieved of certain
contracts, the following abstracts of the Master’s report gives
the recommendations respecting the leading ones:
As to the Oregon Railway c£ Navigation Company lease to the Oregon
Short Line & Utah Northern and Union Pacific, from w hich leases
the receivers petitioned to be relieved, the Master says he finds that
during the years 1887 to 1893 inclusive the incom e derived by said
Oregon _Short Line R ailw ay Company from the Oregon Railway &
Navigation Company has been less in such year than the amount o f
rental fo r such year, and that the amount o f such deficiency for the
several years ranged from $18,083 in 1887 and $349,118 in 1888 to
$1,564,441 in 1892 and $1,992,458 in 1893.
He also finds that since O ctober 13,189 3, when the receivers were
appointed, the operation o f the property o f the Oregon Short Line
Company has not produced sufficient net revenue to pay expenses o f
such operation, taxes and the fixed interest charges upon its m ort
gage bonds, and that the same is true as to the operation o f the p rop
erty o f the Union Pacific Railw ay Company as to its operating e x
penses, taxes and interest upon its m ortgage bon ds; th a tE . fie Niel
has been made separate receiver o f the Oregon Railway & Navigation
Company. The Master finds that the Union Pacific receivers have
n ot ratified or adopted the contracts complained unon. H e recom
mends that an order be made whereby it shall be determined that
the receivers have not ratified or adopted said contracts, or either of
them, and that they are not bound to perform the covenants therein
contained.
As to the petition regarding the Oregon Short L in e contract, there has
been interposed in opposition thereto the answer o f John P. Dillon
as sole surviving trustee under the m ortgage o f the Oregon Short Line
R ailw ay Company dated N ovem ber 1 ,1 8 8 1 , and a com m ittee repre
senting holders o f bonds secured thereby. The Master finds that in
the operation o f the said several properties b y these receivers the al
low ance and division o f earnings as made are fair and equitable as betw een th e said Oregon Short Line & Utah Northern R ailway Company
and the «aid Union Pacific R ailw ay Company, fie finds further that
the revenues derived from the operation o f the Oregon Short Line &
Utah Northern Railway from all sources are insufficient to pay the
charg'es specified in that behalf in said contracts com plained upon;
that the total revenue obtained b y the receivers from such operation
qS o
fi ? m Ootol:,er 13>1893, to July 31 ,189 4, inclusive, was $3,»82,581; that the w orking expenses, taxes, ordinary repairs and
M e re s t accrued on bonds during said period amounted to
$5,241,302, the result being a deficiency o f revenues necessary to
p a y said charges o f $1,358,721. H e recom m ends that an order be
m ade whereby it shall be determined that the receivers are not bound
to keep or perform the covenants and obligations therein contained.
Union Pacific Denver dt Gutf contract, in pursuance of
w hich the U nion Pacific operated the road'and endorsed the eonsols o f
íuSi
“
asA er flnds that
a decision o f the Circuit Court
hied March 30 ,189 4, it has been determined that these receivers have
announced said contracts, and are not bound thereby,
in
the St. Joseph & Grand island contract,
a
n
1ol\t le ^ n\on Pacific operated the road and endorsed
t ifn i f t o ® ? 6
1
t he Master finds that in the opera31 °1
a l +vfd’ io r ^he Period from O ctober 13 ,189 3, to July
anu ? w 8iTe’ tbe earnlno 8 have am ounted to the sum o f $696,'j-V»
expenses o f such operation, together with taxes
the ’ first6 mortSaffA
97; and that the accrued interest on
^ iftortgage bonds o f said, com pany during said perings ^are i
° f $33d’000’ and that gSuch
earnbvg the sum Uío fie« 2 n 90fiq7ay ti811? 11 ■expenses> taxes and charges
amount w W h
, m stating said account the
Payable to the K. City & Omaha under
also th a m m i i t r t S 0 .c iJ a u - 1, 1887, has been excluded, as has
n a n v ^ o u iT u A
^-ld St‘ J.0 SePiL& Grand Island R ailroad Comentitied to receive from the Union Pacific Railw ay
rec^mrnonds th a
tlie traffic contract o f July 1 ,1 835 . He
be madc herein w hereby it shall be deterthe^ on tract .^6 oeivers are not hound to perform the conditions 6 f
_
the Kansas City & Omaha, the earnings from Oet i o iqqq
LVol .LIX.
A s 'a conclusion he recom m ends that an order be made herein
said receivers be relieved from all liability under or by reason of
contract, and that they be allowed to operate the property in its
interests and w .thout regard to the terms o f said contract.
8
«.
S
n d
ovm
Union Pacific Denver & Gulf.—la the suit of the Amer
ican Loan & Trust Company of Boston in the United States
Court at Denver for the foreclosure of the mortgage on the
Union Pacific Denver & Gulf Railroad,1 the company asks
for the appointment of E. Ellery Anderson as co-receiver
with Mr, Trunbull. Mr. Anderson says he is in thorough ac
cord with Mr. Trunbull, and the application for his appoint
ment is owing to a desire on the part of large interests in thè
bonds to have adequate representation. He represents the
Drexel, Morgan & Co. interest, which holds $8,000,000 out of
$15,000,000 of the 5 per cent bonds now pledged as collateral
for the Union Pacific 6 per cent trust notes. A dispatch from
Denver says : Papers will be filed by ex-Gov. John Evans in
this suit, the object of which is to prevent the foreclosure of
the bonds of the Union Pacific Denver & Gulf RR, Co. held
by the American Loan & Trust Company, The ground taken
is that the bo ads were fraudulently transferred to the Union
Pacific, no consideration being given for them, and that the
receiver of the Gulf Road is not required to meet the interest.
Union Pacific.— Kansas Pacific.—The committee of the
Kansas Pacific 6 per cent bondholders give notice that they
have extended the time for signing the bondholders’ agree
ment without penalty until November 10th. They state that
the suit to recover the collateral taken from the trust has
been brought in the Supreme Court of New York State and
that progress is reported. They say that the agreement
should be signed at once at the Continental Trust Co. of
N. Y . or the State Street Safe Deposit & Trust Co. in Boston
in order to participate in the benefits obtained, bonds not to
be deposited until called for by the committee.
Union (Street) Railway of New York.—The report to the
New York State RR. Commissioners for the quarter ending
Sept, 30 was as below, the percentage of operating expenses
to gross earnings being 49'26 against 43'48 ;
July 1 to
Gross
Sept. 30.—
earnings.
...........$1.36,338
1894
1893 ................... 130,177
Net
earninas.
$69,416
73,573
Fixed
charges.
$37,675
37,026
Balance,
surplus
$31,741
36,547
The balance sheet Sept. 30, 1894, shows : Loans and bills
payable, $135,000 ; all otHer current liabilities, $108,676. Cur
rent assets—Cash, $50,065 ; stocks and bonds of other com
panies, $150,000 ; other investments, $7,637 ; due by com
panies, etc., $50,142.
United States Cordage.—The Western Twine Company
has been formed to undertake the sale of the twine held by
bankers as security for the loans which were made to the old
National Cordage Company. This twine, amounting to
20,000 tons, has been hanging over the market and is
said to have had an extremely depressing effect on the
company’s business. It is reported also that the United
States Cordage Company has concluded satisfactory banking
arrangements for a long term that will enable it to handle
the raw material required in its business. This facility, in
addition to the working capital provided by the reorganiza
tion and in hand, it is said,'places th9 company in position to
pursue an active policy in extending its business.
United States Express—As to the dividend usually paid
in November, a circular has been sent to the stockholders stat
ing that the following resolution has bean adopted by the
board of directors :
Whereas, The recent protracted strikes upon the railroads, and the
depression in the general business o f the country, have so affected
this com pany as to cause a heavy falling off in its traffic, thereby
greatly reducing its earnings ; therefore,
Resolved, That this board deems it inexpedient at this time to de
clare any dividend upon its stock.
Valley of Ohio.—The suit to foreclose the first and consoli
dated mortgages by th e Central Trust C o., trustee, under both the
mortgages, came up for final hearing this week at Cleveland
before Judge Ricks in the United States Circuit Court. The
foreclosure was opposed by counsel representing the first
mortgage bondholders’ committee. Briefs were ordered to be
S ttfi
® 5 2 0 .
the first m ortgage bonds fo r said period to submitted. Negotiations are pending with the Wheeling & Lake
am ount o f Aarni^ra
’ ta? es aild M e r e s t charges exceed the Erie interests which may change the present status notwith
t h e a m o l w w Z ^ the.sum o f $ 149,371. In stating said account standing the opposition of the Baltimore & Ohio, which con
t h le d to r e í aT^a ? rn^ t h 5 c ,n8,a 8 City & Omaha RR. Co. w ould be en- trols the stock and $900,000 consols.
U ^ o n P a íff ií
S^‘ J + eph & Grand Island RR. Co. and the
herein
? '„
5er the traffic contract o f January 1,1887,
Wabash.—The company has negotiated with a syndicate
mends th£tPi
n
8 £ ot been included. The Master rAcoma n .°rder be made herein whereby it shall be determined headed by Messrs. Kuhn, Loeb & Co, a sale of $3,000,000 first
mortgage
fives at 102 and interest less a bankers’ commission.
the contract .061^ 8 ^ n0t b0und keep o rp e rf orm the conditions o f
These bonds will be issued to retire the North Missouri and
omjI \°rí s t C
A°Hn^ a+AUWn h th® SL Joseph <£ Grand Island second mort- St. Louis Kansas City & Northern sevens maturing next year,
c X e r s a i r L ? í m 1n d eh tmí e r 3 1 ' 1 8 9 1 ' t b e M aster finds th a t th e rer e e o m m m ^ u ! ^ ^ t b e c o v e n a n ts co n ta in e d th e re in and he having been reserved for that purpose under the general first
b e m ad e h erein w h ereb y it shall b e d e te r mortgage. About $1,000,000 of the maturing bonds have been
g ep a rt& \ h ereto
are n o t b o u n d t o P erform th e o b lig a tio n s o f already converted and the remainder are provided for by this
sale. This exchange of the $9,000,000 sevens for fives will re
Union°Pacilie R t
nn Lin£ ° l *
Colorado contract, be finds that the
ings not fees
M W *
beeii obli- ed to pay out o f its ow n earn- duce the Wabash charges $180.000 a year and make the fives
der said contrae? | 3 ^’?P0 ,each year to meet its guaranty obligation un- a first mortgage on the main line.
fo r the vAflr i sou
amount required to m eet such guaranty
Western New York & Pennsylvania.—Judge Coxe this
the p ron lrtv o f 8«aw Tt tb ^ 811^ o f $3.2.188. That in the op«r tion of
Z f i w t K L ; d Union Pacific Lincoln & C dorado Railw ay Com- week issued a decree confirming the decree of foreclosure by
eíu d in J thA ^roaIerS herein, the gross revenues from all sources, in- the United States Circuit Court of Western Pennsylvania,
lin e s o f ttiATTfiio^ST?ec-«pto íF0™ a11 business interchanged w ith the in the case of the Fidelity Insurance Trust & Safe Deposit
m eet the chaíaAa rrPacifi2 Kaiiw ay Company, have been insufficient to
S
of
8aid contract, and that the perform - Company against the Western New York & Pennsylvania
burdenLm oo Pantract b y these receivers w ould operate as an unjust Railroad Company and Samuel G. De Coursey as receiver.
That th« rA ^¡the revenues o f the Union Pacific Railw ay Company, The decree orders that if the indebtedness be not satisfied by
the pronArt^ei1í t rSK1+ve
ratified said contract, but have operated
prior to^qnirf ’ri ®ubst an rJially the same manner as it had been operated , October 25 the complainant may take action to sell the prop
were A m o+ a^ Ceive£s!?lp’ and Wltb tlie allowances o f earnings w hich •erty under the second mortgage. This action is in pursuancenronAM-trUA#a?
as b etweeu said several properties, and that said ! Of the plan of reorganization._________
?onld ha ° i ® f d ^ “ Pany has receiveil in effect all the benefits that l
couia be derived by it from an independent management thereof. *
" V 5 ^ o r o t h e r I te m s o f I n v e s t m e n t N ew s see p a :e 7 4 2 .
OCTOBEE
27. 1894,]
THE CHRONICLE.
741
tries, including rentals, $578,014 28, making a total of $4,925.331 61, against $13,414,708 92 for the previous year.
The total number of persons in the employ of the company
in its manufacturing and operating departments is 10,858, and
PULLMAN’S PALACE CAR COMPANY.
the wages paid during the year $4,968,548 78. The number of
employees for the previous year was 14,635, and the wages
6
a n n u a l s t a t e m e n t f o r t h e f i s c a l y e a r e n d paid $7,751,644 32.
The Pullman Loan & Savings Bank shows savings de
i n g JULY 31, 1894.
posits at the end of the fiscal year of $356,381 75, a decrease of
$256,740 46 compared with the previous year. The number of
INCOME ACCOUNT.
depositors has decreased during the year from 2,280 to 1 ,353 ,
REVENUE.
and the average tor each depositor ha3 decreased from $27128
From earnings o f ears............................................................. $8,761,934 98 to $263 38.
“
Patents.......... ,................................................................
6,385 92
The strike at the car works, which occurred May 11, 1894,
u Rentals, Dividends, Interest, etc. (including loss
826,746 25 in consequence of which the works were idle for the remainder
in Manufacturing D epartm ent)......................................
of the fiscal year (about twelve weeks), and the temporary
$9,595,067 15 disturbance of railway travel, account for some part of the
DISBURSEMENTS.
large differences between the figures of this and the preceding
Operating expenses, including maintenance o f interior
furnishings o f cars, iegal expenses, general taxes and
year, above given.
insurance................................................................................. $3,497,298 00
Several public statements made on behalf of the company
Proportion o f net earnings paid other interests in Sleep
and also those made before the United States Strike Com
ing Car A ssociations controlled and Operated hy this
C o m p a n y ................ 1...... ........................ : .........................
897,352 25 mission, giving in much detail the circumstances and events
Dividends on Capital Stock...................................................
2,880,000 00 of the strike and the position of the company therein, have
$7,274,650 25 been embodied in a pamphlet, a copy of which was duly sent
to each shareholder.
S u r p l u s f o r t h e Y e a r —being excess o f revenue over
ordinary disbursements, carried to credit o f Incom e
The depression in the car-building business, which began in
A cco u n t........................................................................ ......... $2,320,416 90
1893, manifested itself not only in a falling off in the prices
for cars, averaging in all classes 24 pe r cent, but in such stag
FIN AN CIAL STATEMENT.
nation that the force in the Pullman shops on November 1 ,
ASSETS.
1893, was less than 1,100, while the average number employed
1,650 Cars and Equipments, inclnding franchises.......... $24,248,793 22
»Amount invested inC ar A ssociations controlled and op
in the fiscal year ending July 31, 1893, was 4,497. In the
5,273,331 32 months of August and September, 1893, we had an opportu
erated b y this Com pany......................................................
Real Estate and Plant, 505 acres o f land, Car Works,
nity of making only six bids for work, of which but three
homes fo r workm en and other im provem ents at P ull
man, Ills.............................. , .............. .................. ................
7,500 413 61 were accepted.
Real Estate and Pullm an Building, C hicago.......... . ........
993,023 74
In order to procure car-building contracts a reduction of
Real Estate and Plant, Detroit S h o p s................................
401,184 95 the wages of April, 1893, of the car shop employees, averag
218,613 07
Real Estate and Plant, St. Louis Shops..............................
Real Estate and Plant, Wilmington Shops.........................
167,889 08 ing 19 per cent, was made, to make them correspond with
Other R eal Estate.....................................................................
15,909 38 those paid by other car manufacturers, and by making bids at
Lumber and other Construction M aterial and Operating
shop cost and less we secured work aggregating about
Supplies, including cars in process o f construction, etc. 3,672,062 91
Patents.......................................................................................
108,863 74 $1,500,000 and were underbid on bids for nearly the same
Furniture and Fixtures in the several offices o f the C o ..
113,605 63 amount. On the accepted bids our net loss was over $50,000.
Ronds and other Securities....................................................
7,242,194 5 5 By taking this course we had been able by last May to secure
Cash....................................1.......................................................
1,313,573 06 work enough to raise the number having employment to
Car Lease W arrants...................................... $7,928,016 83
nearly 3,300.
Miscellaneous.........................................
2,817,800 07
Receivers’ Certificates............
.................
27,330 97 10,773,147 87
Although these conditions were carefully explained to a
Total Assets.........................................................................$62,042,606 13 large committee of the shop employees, three-fourths of them
were persuaded to enter upon the strike because the company
MCE IK
BCIICE
LIABILITIES.
declined to restore wages to the scale of the prosperous times
Capital Stock issued, 360,000 shares, par value, $100
of the early part of 1893. Several suggestions were made to
each...................... .............................................................. $36,000,000 00 the company that it should consent to arbitration as a means
Surplus—Invested in the Assets o f the
of ending the strike, but it declined to do so upon the ground
Company ...............................................$28,112,060 04
that it being an ascertained fact that even at the existing rates
Less written off during the year:
For loss on cars sold dr destroyed,
of wages car-building contracts could only be pr icured for
replaced b y new ca rs......................
$20,231 41
execution at actual and serious losses, the company could not
For balance o f account fo r rebuild
possibly submit to the discretion of any person not responsible
ing and remodeling« cars into
latest standard Pullm an cars.......
to its shareholders the question whether or not it should in
23,193 72
F or balance o f taxes p rior to August
crease its manufacturing losses by any increase of wages, or
1 ,1 8 9 1 ........................................ .
30,288 80
even whether or not it should continue the manufacturing of
For depreciation in m arket value o f
cars at current prices at the wages complained of.
securities.............................................
380,611 37
For depreciation in sundry properties
515,128 61
On June 22d a demand for arbitration was presented to the
For doubtful accoun ts..........................
100,000 00
company by a committee of the American Railway Union,
F or estimated depreciation o f Cars
accompanied by the threat of an attempt to stop the opera
not in regular service, but used for
tem porary purposes................
1, 000,000 00
tion of Pullman cars. This attempt began on June 28th, and
after much public discomfort hid been caused and great dis
$2,069,453 91 $26,042,606 13
orders had been inspired, of such violence and extent as to re
Em braced in the follow in g accounts:
quire the intervention of the United States military forces, it
Contingency reserve...................
1,155,310 4 9
was practically overcome by about the middle of July.
Depreciation account (franchises,
patents, e tc.).......................................
1 , 1 0 0 ,0 0 0 0 0
W e then began receiving applications for employment at
In com e A c co u n t.................................... 23,787,295 64
the shops, and were able to open the repair department on
August 2d, and graduaily the other departments; but the
$26,042,606 13
business to be done has justified the employment of little
$62,042,606 13 more than three-fourths of the number employed at the time
of the strike.
Total number o f ears ow n ed or controlled, 2,588.
There has been no substantial change in the condition of the
car-building business, and the contracts taken by us before the
ANNUAL MEETING.
strike and those taken since the strike are being executed at
prices which give no r rofit, and such contracts are taken be
C h i c a g o , T h u r s d a y , O c t o b e r 18, 1894.
cause the shops are being kept in operation for the repairing
President Pullman supplemented his annual report with the of the company’s own cars, and to give as much employment
following general information:
as is possible in the present condition of business.
During the fiscal year the contract with the St. Louis & San
I have learned in various ways that a good many persons
Francisco Railway, which would have expired May 19, 1894, during the strike lost sight of its true origin and gained the
and the contract with the Colorado Midland Railway Com impression that it was influenced by the house rents at Pull
pany, which would have expired July 1, 1902, were replaced man not being lowered when wages were reduced from the
by new contracts dated August 1, 1893, expiring February 1 , high scale of the spring of 1893. That this is not true is shown
by the fact that more than two-thirds of the employees who
There have been built during the year for the use of the com began the strike were not tenants of the company; indeed,
pany 15 parlor and 6 dining cars at a cost of $347,947 87.
between 500 and 600 of them owned their own homes. It is
The number of cars owned and controlled is 2,588, of which true that frame houses, at slightly lower.rents, may be had in
2,335 are standard and 253 tourist or second-class cars.
the adjacent towns by such employees as do not consider the
The number of passengers carried during the year was small difference in rent to be much more than made up by
5,282,323, and the number of miles run was 197,409,503. Dur the advantages of well-built brick houses, with gas and water
ing the previous year the number of passengers carried was and drainage connections, situated on paved and shaded and
5,673,129, and the number of miles run 206,453,796. The year cleaned streets and in attractive surroundings. These things
just ended shows, therefore, a decrease of about seven per being taken into account, the rents in Pullman are really
cent in the number of passengers carried and of about four cheaper. When it is considered that there are more than
per cent in the number of miles run.
1,800 tenements in Pullman and that there have been in the
The total mileage of railways covered by contracts for the fourteen years since the town was founded only about six
operation of cars of this company is 126,411.
forcible evictions of undesirable tenants, it is clear that the
The value of the manufactured product of the car works of relations of the company with its tenants have been free
the company for the year was $4,347,317 37 and of other indus from difficulty in a most extraordinary degree.
fjjk p u r ls a r u l M o t u m m t s .
742
THE CHRONICLE,
The number of men now employed at the shops is 2,640 and
the scale of wages now is the same as that existing at the
time of the strike, and rents are promptly paid. As to the
tenants who were not re-employed, none of them have been
evicted or unduly pressed for their arrearages of rent. There
has been a gradual voluntary departure of unemployed
tenants going on, as they have found work elsewhere, and
there are now 279 of them remaining.
The real cause of complaint during the autumn of 1893 and
the succeeding winter was not altogether on account of the
scale of wages, but largely because there was not enough
work to give an opportunity for anytning like full earnings
by all the men.
The average daily pay to journeymen mechanics at the
time of the strike was $2 03, and charges of insufficient wages
have for their foundation chiefly the misleading statements
of three mechanics to whom full employment could not be
given, but two of whom nevertheless earned $634 and $642
respectively in the year, and the other earned $345, working
hardly more than half time. The wages paid were in fact
current wages in such trades, and substantially the same as
at our Wilmington shops, where the attempt of the American
Railway Union to cause a strike met with no concurrence on
the part of the employees.
If the men had continued at work instead of remaining idle
for nearly three months, wages amounting to more than
$350,000 would have been paid them, a sum to be contrasted
with the total value of contributions made for them, which
so far as we are advised did not exceed $50,000.
I may observe also that there have been indications of a
feeling in some quarters that this company ought to have
maintained the scale of wages existing in the car manu
facturing department in April, 1893, without regard to the
current selling prices for cars, paying the consequent in
creased losses in the car-building business out of the company’s
earnings in the independent business of operating sleeping
cars, and thus sharing the sleeping car earnings with the car
building employees, who, to use the language of one ques
tioner, “ had been working for a long time.” Such a prin
ciple of business would as well require the mechanics to be
kept on the roll at full pay, even if there was no work for
them. It must also be remembered that the company’s busi
ness of operating sleeping cars is the growth of twenty-seven
years, and the entirely independent business of car-manu
facturing, for sale, at Pullman, has been going on only onehalf that time. A t what point did a principle take effect,
that the latter business must be kept going by the former,
regardless of their independence or of the discrepancy be
tween the cost and selling price of cars ? At the time of the
strike 227 of the shop employees had been in the employment
of the company for less than a year and more than half the
entire force had been with the company less than five years.
Had all of them earned a guarantee of uninterrupted, undi
minished wages? And if not, where was the line to be
drawn, and what was to be done in respect to shop employees,
of varying terms of service, who were laid off in the summer of
1893 for lack of work, and who have not been re-employed ?
Of the present force at the car shops only about 300 are new
employees, and the remainder have returned to their former
work with, I believe, a widely pervading feeling that they
have learned by experience that this company was earnest in
befriending them in seeking work for them when little was
to be had and in giving them work at wages which the sell
ing prices of their product did not justify, and that the
genuineness of the interest of this company in their welfare
is far more to be trusted than the promises of the agitators
who misled them.
By increased attention to their work the mechanics have
under the same scale of piece-work prices increased their aver
age daily earnings from $2 03 in last April to $2 16 in the last
half of September, the latest report received.
Called Bonds—Louisville & Nashville.—In accordance
with the terms of the mortgage on the Evansville Henderson
& Nashville division of this company the thirty bonds have
been drawn for the sinking fund. The numbers and other in
formation are given in the advertisement in another column.
New York Stock Exchange—New Securities Listed.—The
followir g new securities have been listed by the New York
Stock Exchange:
L it tle R o ck & M em phis .—$1,720,000 Central Trust Company c e r
tificates o f deposit o f tile first m ortgage bonds.
Cle a r f ie l d B ituminous Co a l .—$803,100 first m ortgage sinking
fund fours.
Savannah F lo r id a & W estern . —$4,056,000 first consolidated
m ortgage sixes.
New York & East River Gas.—This company has turned
gas through its tunnel under the East River into its New York
mains, There are said to be about forty miles of mains com
pleted in the thickly populated up-town residence sec
tions, and work is being pushed in extending the mains as
rapidly as possible.
Toledo St. Lonis & Kansas City.—Receiver Callaway of
this company reports the following receipts and disburse
ments from May 22, 1893, to September 30, 1894:
Receipts—
Cash, May 2 3 ,1 8 9 3 .....
$7,863
A ccou nts prior to that
date . . . ........................
167,542
Current accoun ts......... 3,468,509
T o ta l.............................$3,643,916
Disbursemen ts—
Account * prior to May
22, 1893...................... $572,838
Current accou n ts.......... 3,047,082
T ota l............................. $3,619,921
Cash Sept. 3 0 ,1 8 9 4 ..
$23,994
[V ol . DIX.
3£he C o m m e r c i a l f i n i e s .
COMMERCIAL
EPITOME.
F r id a y N ight , ©ct. 26,1894,
Some improvement in business is reported among jobbers
and retailers, the movement confined to thoroughly staple
and seasonable goods. Demand for bulk parcels of supplies at
first hands, however, continues unusually small for the season
of the year, and some of the leading commodities are posi
tively neglected. Speculation in merchandise is confined to
narrow boundaries. Developments in regard to crop con
ditions during the week have been of unimportant character.
At the South cotton has encountered nothing of a damaging
character; the harvesting of sugar cane is under way, with
promise o f a good yield; and the previously noted fear of
some shortage in rice crop as compared with original esti
mates is still entertained. In the Middle, Western and North
western latitudes there are a few localities from whence come
complaint of slow develppment of fall-sown wheat, but in a
greater portion of the seeded area the grain is doing well.
The marketing of both wheat and corn continues moderate!
The foreign demand for grain and flour is unsatisfactory!
Cured meats have sold slowly at declining prices, in conse
quence of increasing arrivals of well fatted swine.
Lard on the spot has continued to meet with a very slow
trade and prices have further declined, closing easy at 7-25c.
for prime Western, 6 ^ c . for prime City and 7 75c. for refined*
for the Continent. The speculation in lard for future de
livery at this market has remained at a standstill and prices
have been quoted nominally lower in response to weaker ad
vices from the West and the continued full receipts of swine
at primary points.
d a i l y c l o s in g p r ic e s o p l a r d f u t u r e s .
Sat.
October.............................. . 7'50
January ............................ 7 ’40
Mon.
7 55
7 ’42
Tues.
7'55
7*40
Wed.
7-35
7 ‘20
lh u rs,
7*40
7'25
Fri.
7*20
7.00
Pork has met with a slow trade and prices have declined,
closing easv at $13 75@$14 50 for mess, $14@$16 50 for short
clear and $14 50 for family. Cutmeats have been in slow de
mand, closing at 7%®8c. for pickled shoulders,
for
pickled hams and 5%c. for pickled bellies. Beef has been
quiet at $7 50@$S for mess, $9:310 for packet, $10@$12 for
family and $17@ $19 for extra India mess. Beef hams have
been dull, closing at $17@$17 50. Tallow has been quiet but
steady, closing at 4%@4%c. Lard stearine has been quoted
nominally at 9c. Oleo-stearine has been dull and easy, clos
ing at 6 ^ @ 7c. Cotton-seed oil has been in slow demand and
weak, closing at 25c. for prime crude and 29@30c. for prime
yellow. Butter has been easier, closing at 15@233^c. for
creamery. Cheese has been moderately active and steady at
8 @ llc . for State factory, full cream. Fresh eggs have been
steady at 19^c. for choice Western.
Raw sugars underwent further decline and found some sale,
but in general the market was dull and is in buyers’ favor at
the close. Centrifugal quoted 3^ c. for 96-deg. test and
muscovado 3c. for 89-deg. test. Refined sugars have con
tinued disappointingly dull, and prices without change.
Granulated quoted 4%c. Teas and spices neglected and
nominal.
Coffee has been somewhat more active, and on desirable
goods the tone was firm, with valuation fractionally raised.
Rio quoted at 15c. for No. 7 ; good Cucuta 17%c.@18c., and
interior Padang 22J^c.@22^c. Speculation for future de
livery has been of fair proportions, with an upward inclina
tion of values, esoecially on the near months, which have
been covered somewhat freely, and the close is firm. The
following were final asking prices :
Oct............... 13'60o. I Jan.................11'500. IA p ril ............ ..lDlOc.
N ov ................12-75C. Feb................. ll-30c. May................10 95c.
Dec........... ....1 2 00c. |Marob............ l l ‘25o. I June .................... .
Kentucky tobacco has been in better request and steady.
Sales, 300 hhds., principally to shippers. Seed leaf tobacco has
been moderately active at steady prices. Sales for the week
were 2,175 cases as follows: 200 cases 1892 crop, New England
Havana, 18@50c. ; 250 cases 1893 crop, New England Havana,
5(313c,; 200 cases 1892 crop, State Havana, ll@ 15c.; 600 cases
1892 crop, Wisconsin Havana, II <313c,, 400 cases 1893 crop,
Zimmers, ll@ 12c.; 100 cases 1892 crop, New England seed
leaf, p. t. ; 100 cases 1891 crop, Wisconsin Havana, 9@10c.; 200
cases 1893 crop, Pennsylvania Havana. 9/3! 9%c., and 125 cases
1892 crop, Pennsylvania Havana, ll%(3)13c ; also 600 bales
Havana, 70c.@$l 05, and 300 bales Sumatra, 90c.^$3, in bond.
The speculation in the market for Straits tin has been quiet
and prices have further declined in response to weaker foreign
advices, closing easy at 14 75c. Ingot copper has been quiet
and without change, closing firm at 9’60c. for Lake. Lead
has been quiet but steady, closing at 3 1 2 ^ for domestic.
Spelter has been quiet and unchanged, closing at 3 3 7 ^ #
3-40c. for domestic. Pig iron has been without change at
$9 75(3 $13 for domestic.
Refined petroleum has been steady at 5-15c. in bbls., 2-65c,
in bulk and 6*25c. in cases; crude in bbls. has been steady,
Washington closing at 6 c. in bbls. and 3'50c. in bulk; naphtha
5%c. bid. Crude certificates have been steady, closing at
83c. bid. Spirits turpentine has further advanced, closing
steady at 29@29{^c. Rosins have been firmer, closing at
$1 40(3 $1 45 for common to good strained. Wool has been in
slow request, but steadily held. Hops have been quiet but
steady.
THE CHRONICLE,
OCTOBEB 27, 1894.J
C O T T O N .
Friday Night , October 26, 1894.
The Movement of the Crop , as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening the total receipts have reached 897,676 bales,
a g a i n s t 881,131 bales last week and 315,816 bales the previous
^ e k ; making the total receipts since the 1st of Sept., 1894,
1 811,287 bales, against 1,475,239 bales for the same period of
1893, showing an increase since Sept. 1,1894, of 336,048 bales.
Receipts at—
Wed.
Tues.
Mon.
Sat.
Thurs.
Fri.
Total.
Galveston......... 10,118 26,288 12,413 11,714 17,244 12,062
.........
.........
......... 2,483
Velasco, &o —
New Orleans.. 22,942 31,250 29,343 18,015 16,061 15,573
942 1,924 1,357
839
608 3,425
Mobile.........
.........
.........
.........
.........
193
......
Florida.............
Savannah......... 8,261 11,529 11,081 10,669 10,727 11,286
Brunsw’k, &e.
......
......
7,216
......
. .... I
Charleston.......
3,708 4,873 3,089 4,158 3,753 3,004
.........
.........
....... .
69
Pt. Royal, &o. ........
......
Wilmington----- 3,477 2,763 4,011 3,480 5,166 3,139
Wash’ton, &o. . . . . . .
74
......
......
......
......
2,483 3,410 3,523 1,410 3,223 3,581
Norfolk.............
West P o in t... 1,601 2,465 5,741 2,976 1,649 3,819
....... . .........
2,018
......
N’port N., &e. .........
......
1,025
874
677
New Y ork.........
......
........
.........
.........
......
B oston............ .
......
.........
......... 3,087
Baltimore....... '.
......
......
554
Philadelph’ a &c
213
801 1,138
190
891
89,839
2,483
133,184
9,095
193
63,553
7,216
22,585
69
22,036
74
17,630
18,251
2,018
2,576
3,087
3,787
Tot’ls this week 53,411 86,894 70,907 53,918 61,573 70,973 397,676
The following shows the week’s total receipts, the total since
Sept. 1, 1894. and the stock to-night, compared with last year.
Receipts to
Oct. 26.
Galveston...
Velasco, &o.
New Orleans
Mobile..........
F lo r id a ......
Savannah...
Br’wiek,&o
Charleston..
P.Royal,&o
Wilmington..
Wasn’n, &c
N orfolk........
West Point
N’p ’tN .,& o
New Y o r k ...
B osto n .........
B altim ore...
Philadel.,&c.
1
1894.
This Since Sep.
Week. 1 ,1 8 9 4 .
89,339
2,483
133,184
9,095
193
63,553
7,216
22,585
69
22,036
74
17,630
18,251
2,013
2,576
444,387
12,272
543,349
67,347
1,657
320,483
32,358
128,180
23,664
87,379
188
79,590
36,193
4,965
3,049
56
13,941
12,229
3,087
3,787
Stock.
1893.
This Since Sep.
Week. 1,1 893 .
65,409
3,693
118,851
13,439
639
58,817
9,278
22,706
2
14,336
23
32,637
14,174
1,342
500
463
1,438
491
314,530
10,558
397,007
57,136
4,439
333,951
15,491
119,487
6,794
62,648
55
96,419
37,795
2,992
995
1,369
8,554
5,021
T ota ls....... 397,676 1,811.287:358,238 1,475,239
1894.
1893.
171,754
316
222,138
23,079
150,919
3,935
201,345
23,132
138,494
15,373
55,116
128,058
3,300
72,340
27,128
27,865
22,538
15,383
2,957
91,396
7 500
16,830
11,295
52,780
15,301
351
164,265
1 A 0 )0
18,063
6,472
821,347
878.176
.....
....
....
743
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. W e add similar figures for
New York, which are prepared for our special use by Messrs.
Lambert & Barrows, Produce Exchange Building.
ON SHIPBOARD, NOT CLEARED—FOR
Oct. 26 at—
New O rleans...
Savannah____ _
Charleston.......
M obile..............
N orfolk ............
New Y o r k ......
Other p ort . . . .
Great
Other Coast
Britain. France. Foreign wise.
39,119
43,116
6,000
14,900
12,000
10,700
4,600
23,000
32,169 18,112
14,969 40,921
2,< 00 27.000
None.
5.500
None. None.
None.
1.500
1,280 10,500
None. 15.000
2,010
1,890
2,000
500
800
3,500
None.
None.
Leaving
Stock.
Total.
91,410
100,896
37.000
20,900
12,800
15,700
16,380
38.000
130.728
70,258
101,494
34,218
10,279
6,888
75,016
58,382
T otal 1 8 9 4 ... 153,435
50,418 118,533 10,700
333,036
487,261
T otal 1 8 9 3 ... 156,455
T otal 1 8 9 2 ... 148,805
31,621
55,244
299,205
307,730
578,971
628,754
92,912
91,172
18,217
12,509
Speculation in cotton for future deliuery at this market ha®
been more animated and the fluctuation in price sharp. A
large proportion of the business, however, was liquidation or
changing engagements to new positions, and itis.a notewarthy
feature of the situation that at the lowest price for contracts
ever known no substantial investing element is attracted.
The week under review opened on Saturday with only a lim
ited demand, a slack tone abroad and considerable offering of
“ long” engagements, under which the value line dropped 7@8
points without recovery. Monday opened with a decline of
4@5 points, followed by a quick advance, leaving a net gain
at close of 3@4 points over preceding market. A slightly
better tone in foreign advices and a desire of shorts to take
profit at prices which had reached the lowest plane ever
known appeared to t>e the main stimulating features. On
Tuesday, after, starting 4 points lower, price showed
renewed buoyancy and made a very rapid advance
of 16@17 points on a demand to cover and some mani
pulation
of
this and the Liverpool market by
New Orleans operators. Wednesday opened a fraction
higher in consequence of slightly more promising tone of for
eign advices, but no demand developed and 7@8 points decline
followed. Another 5 points shading was shown yesterday
morning, but offerings proved light and the loss was recov
ered with a fractional net gain on some options. To-day the
market has been fluctuating moderately, with very little
change on final figures as compared with last evening, the
average feeling appearing about steady. Cotton on spot dull
at 5 13-16c. for middling uplands.
The total sales for forward delivery for the week are 723,500
bales. For immediate delivery the total sales foot up this week
2,250 bales, including — for export, 2,250 for consumption,
— for speculation and — on contract. The following are
the official quotations for each day of the past week—
October 20 to October 26.
Rates on and off middling, as established Nov. 22 by the
Revision Committee, at which grades other than middling
may be delivered on contract:
. . . . . . . . . ....... .........c. I k
on. G ood O r d in a r y ..........o . I k
o ft.
In order that comparison may be made with other years, we Fair
Middling F a ir.................. 7s on. G ood Middling T in g e d ...
E ven .
give below the totals at leading ports for six seasons.
Strict Good M iddling....... k
on. Strict Middling Stained.. 7,^ oft.
Receipts at—
1894.
Galves’n,&c.
New Orleans
M ob ile .........
S avannah...
Char*ton,&o.
Wilm’ton,&c
N o rfo lk .......
W. Point,&o.
A ll o th e rs...
Tot. this wk.
1893.
1892.
92,322
133,184
9,095
63,553
22,654
22,110
17,630
20,269
16,859
69,102
118,851
13,439
58,817
22,703
14,359
32,637
15,516
12,809
56,049
72,345
9,459
59,254
27,965
11,638
16,069
18,579
19,112
65,171
105,270
15,181
56,340
30,860
9,417
28,753
20,828
18,669
63,574
103,712
13,218
54,860
20,519
11,378
29,777
19,885
26,265
54,678
100,645
14,924
49,718
18,384
6,297
20,874
20,068
22,627
397,676
358,238
290,470
350,489
343,183
308,215
1891.
1890.
1889.
Since Sept. 1 1811,287 1475,239 1418,423 2143,332 2097,467 1925,076
The exports for the week ending this evening reach a total
of 265,992 bales, of which 105,891 were to Great Britain, 32,708
to France and 127,393 to the rest of the Continent. Below are
the exports for the week and since September 1, 1894.
Export»
from—
Week Ending Ost. 28.
From Sept. 1,1894, o Oct. 26.1894
Exported to—
Expert e l to - ■
Great
Conti Total Great
Conti
Total.
Brit’n. France nent. Week. Britain. France nent.
G alveston...... 63,941 6,889 13,221 84,051
2,050 2,050
Velasco, &c....
New Orleans.. 23,607 18,036 40,847 82,510
Mobile & Pen.
Savannah.......
3,350 18,530 21,910
B runswick..... .
Charleston*...
2,100 33.148 35,248
W ilm ington..
9,335 9,335
N orfolk...........
N’p’t News, &c
New York. ...
Baltimore.......
Philadelp’a ...
9,861
6,660
1,823
2,283
4,016 16,16 )
51 6,711
5,965 7,787
200
200
T otal............. 105,891 32,708 127,393 265,992
Total. 1893 ...
93,847 26 137 88,356 208,340
* Including Port Royal.
115,621 59,326
146,199 51,693
6,733
3,350
5,000
31,519 2,100
9,328
4,172
969
60,016
28,122
10,476
3,312
59,498
10,527
95.526
2,208
95,618
3,450
54,876
46,540
234,445
10,527
293,418
8,941
98,968
8,450
88,495
55,868
4,172
5,199
40,142
909
105,357
100
20,485
650
31,061
3,962
421,467 121,768
429,761
972,986
349,990 102,931
295,595
748,516
Good M iddling.. . . . . . . . . 5,g on.
Strict Low Middling......... 3,6 off.
Low M iddling................. 718 off.
8triot G ood O rd in a r y ..... 1310 off.
Middling Stained.............. Tig oft,
Strict L ow Mid. Stained.. 2912 oft.
Low M iddling S ta in ed .... 138 oft.
On this basis the prices for a few of the grades would be as
follows:
UPLANDS.
S at.
M on T ues W ed
Good Ordinary...........................
Low M iddling..............................
Middling....... .................. .............
Good M idd lin g. ........................
Middling F air......... ..................
4%
55,g
S7s
eh i
6%
4k
5516
5 78
6 3ie
6%
GULF.
4*3,6 4%
55,g
53s
51518 5 k
63,g
6k
613,« 6 k
S a t.
M on T ues W ed
Good O r d in a r y ........................
Low M idd lin g.............................
Middling.......................................
Good M idd lin g ....................... .
Middling Fair..............................
5
5 u ie
6k
6716
5
Sita
51116 5 k
6k
6'316
6k
6 716
7
71,«
STAINED.
S a t.
Low M iddling..............................
Middling.......................................
Strict M id d lin g ....... .................
Good Middling T inged..............
4k
57,6
52132
578
Th.
F r i.
411.6 411lft
5k
5k
513.6 513,<*
6k
6k
61*1« 6 i l 1ft
Th.
F r i.
5
415,6 4 i5 ,ft
511. 6 5 k
ok
6k
6*18
6 'l«
6k
67.6
6k
7
6*5,6 615,0
M on T ues W ed
4*3
4k
49ie
5k
57,6
52l 32 523,2
57g
515,6 K g
Th.
F r i.
47,6 47.6
5k
5k
519,2 519,,
513,0 513.6
MARKET AND SALES.
The total sales of cotton on the spot and for future delivery
each day during the week are indicated in the following
statement. For the convenience of the reader we also add
a column which shows at a glance how the market closed on
same days.
SALES OF SPOT AND CONTRACT.
SPOT MARKET
CLOSED.
Sat’ d a y .
Monday
Tuesday
Wed’day
Thur’d’ y
Friday..
Total.
Dull at i,a d ee..
Quiet ................
Q u ietai I 10 adv.
Quiet at 11 g dec.
Quiet at 1,6 dee.
Dull.....................
Ex
p ort.
Con- Spec- Con
sum p. ul'Vn tract.
79
....
....
....
....
....
1,170
257
195
406
143
___
....
—
2,250
....
Total.
Sales o f
Futures.
....
79
1,170
257
195
406
143
67,400
127,700
192,100
115,500
111,100
114,700
....
2,250
72 8,50 0
744
THE CHRONICLE
Th e Sa les
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following comprehensive table.
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1894.
1893.
1892.
iq Qi
Stock at L iverp ool.........hales. 679,000 769,000 1,007,000 646 ons
Stock at L on d on ........................
l l ,000
9,000
8,000
u g
T otal Great B ritain stock . 690,000 778,000 Ï ,015,000
"657jjÒÒ
Stock at Ham burg.....................
26,000
10,000
5,100
.2,700
nr' r' r'~
Stock at B rem en___ _
69,000
91.000
50.000
53.000
Stock at A m sterd am .
8,000
14.000
16.000
17.000
Stock at ..
R otterdam
.
....
.... ......
200
200
200
300
Stock
at A ntw erp ................... .
18,000
8,000
5.000
a + s \/> lv <*4- U n T T « »
n /tn A A A
6,000
Stock
at H avre.......... .
263,000 299,000 307,000
153,000
Stock at M arseilles............
5.000
5.000
9.000
10.000
Stock at B arcelon a.................
31.000
40.000
39.000
32.000
Stock at Genoa...................... .
4.000
9.000
13.000
5,000
Stock at T rieste...................... .
29.000
23.000
26.000
26.000
T otal Continental stocks.. 4 5 3 ,2 0 0 499,200
m m ___
___ _
470,300
"305^000
T otal E uropean s to ck s ----- 1,143,200 1,277^200 1,485 3 0 0 '
India cotton afloat for E urope.
16,000
32,000
4 1 * 0 0 0 '962^00
33.000
Amer, c ott’n afloat fo r Europe. 641,000 495,000 455,000
632,000
•Egypt, Brazil, & c.,afltforE ’r’pe
38,000
33,000
42,000
P
WW
55.000
Stock in United States p o rts.. 821,347 878,176
Stock in U. S. interior tow n s.. 274,265 276,982 936,4841,110 023
288,774
335347
United States exports to-day. __ 21,501
44,207
43,56 9
40 463
T ctal visibie su pply...........2,9n5,313 3,036,565 3 ,2 9 2 a 27 §1^755$
A m e r ic a n ° f ^ merlCan ana other descriptions are as follows?
Liverpool stock..............hales. 543,000 599,000 851.000 486,000
Continental stocks.................... 305,000 393,000 322.000 178,000
American afloat fo r E u r o p e ... 641,000 495 0 0 0 455.000 632,000
United States stock................... 8 2 1 ,3 4 7 878 176 936,484 1,110,023
United States interior stock s.. 274,265 27fl!982 283,774 33 ö|347
United States exports to-d ay.
21,501
44,207
43 ,r>69
40,463
Total A m e r ic a n ............. 2,606,113 2,686,365 2,896,827 2,781 83i
East Indian, B razil, die. —
' ‘ OJ’’sd'5
L iverpool s t o c k ....................... 136,000 170,000 156,000
160,000
London s to c k .............................
11,000
9,000
8,000
11,000
Continental stocks..................
148,200 106,200 143,300
127,000
India afloat fo r E urope............
16,000
32.000
41.000
33.000
Egypt, B razil, &c., afloat............................ 38,000
33.000
42.000
55.000
Total E
India,
& c..........
m'
T ast
------à
------ - —
.......... „ y349,200 o350,200
w ,i u v 395,300 386 Ode
T otal A m erican................... 2,606,113 2,686,365 2.896Ì827 2.781 8 !«
T otal visible su pply.......... 2,955,313 3,036,565 3,292,127 3 0 6 7 8 3 ^
Idling Upland,
Unland. L iv
iverp
37„,<i.
U J
Middling
erp ool..
3 73td.
4-*sd. * 4?ied.
45sd.
M iddling Upland, New Y ork ..
5 13ie0.
SSjec.
SSsc.
83go.
E gypt Good Brown, L iverpool
4i3 16d.
5S8d.
5d.
6 ii 6d.
Peruv. Rough Good, L iverpool
5 iije d .
d^d.
5l5 16d.
9d.
Broach Fine, L iv e rp o o l...........
35, 6 d.
49, 6 d.
¿ 5 i«d.
4 Jad.
Tinnevelly Good, L iv e r p o o l..
3 ^ .
4 4d.
43ad,
4 1ad.
11^ The imports into Continental ports the past week have
been 98,000 bales.
The above figures indicate a decrease in the cotton in sight
to-night of 81,252 bales as compared with the same date
Sf . 189^ on n deei easf ° f 336,814 bales from the corresponding
date of 1892 and a decrease of 212.520 bales over 1891.
AT the I nterior T owns the movement—that is the receipts
for the week, and since September 1 , the shipments for the
week and the stocks to-night, and the same items for the
corresponding period of 1893—is set out in detail below
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it
The following exchanges have been made during the week-
s «
CDS"
?rS-
MS
{QS
M
_lncludes sales ia September, fo r September, ¿ 8 , 1 0 0 .
n exch. 1
n n Deo.
n Q„ ffo
™ r. mt
„ „
.0 6 p ( i t o e x o h 1 0 0 J a n f Q r p e b
*311 1>(1.
pd. tto
100
May.
*12 pd. to exch. 6 )0 Jan. fo r Mch.
•11 pd. to exoli. 100 Jan. fo r Mob.
*12 pd. to exch. 300 Nov. fo r Jan.
•33 pd. to exch. 800 Nov. fo r May.
•06 pd. to exch. 300 Nov. fo r Deo.
•18 pd. to exoE. 100 Nov. fo r Moh.
•24pd. to exch. 1,000 Nov. for Moh. •04 pd. to exch. 100 Nov. fo r Deo.
*25 pd. to exch. 3 JO Jan. for May.
•03 pd. to exch. 300 N ov fo r Dec.
•10 pd. to exch. 1,000 Nov. fo r Jan. •07 pd. to exch. 200 Oct. fo r Jan.
Even 500 Oct. fo r Nov.
•03 pd. to exch. 200 Oct. fo r Jan.
•21 pa. to exch. 500 Nov.
fo r Mch.
fo r in.ay.
May.
----------------06- pd. to
uv, exch. 200 Apr. jLur
I he V isible Supply of Cotton to-night, as made up by cable
»
g>
1«: i
I I
£0
05
CHpjpO ^
P Cô O» Cô
O 05 Cô 05 O
W H « 0 £0 0 5 0 1 0 5 CD0 5 C Ô O ^ r f ^ 0 5 0 0 W O £ C 0 lC 0 C*5£ ô 0 5 Q0 o 2 o C Ô C 0 0 0 «
S**^1^**?* 2
^Jpippl^Mppp ^ < J h*COQ0Q0O1(CÔ£0GD00C
2 S Sî S S ft ï ?JS? ^ ^ ^ M o V k o o c o a b V o l t ^ V w W © Ò5o c
''OQOOiCÔOlCOCÔH
-iCOM
CÔOOOlW-^Cnül**
*0O Ci (X) O • S9^^05M
O5CÔQl«4MOlCBrf^M
)^>
*f>0p^C005O>
Oi05Q0QK3Oit0O^tj
* Louisville figures “ n et” in both years
r This year’s figures estimated.
+ Last year’ s figures revised.
S i* 8
8<S-3
C
h. s;
QQ
?♦
• o
£0 5 .
<1 »
and telegraph is as follows. The Continental stocks, as well as
those for Great Britain and the afloat are this week’s returns
The above totals show that the interior stocks have increased
? n<mu0ns^^uen^
European figures are brought down during the week 40,867 bales and are now 2,717 bales less than
to Thursday evening. But to make the totals the complete at same period last year. The receipts at all the towns have
figures for to-night (Oct. 26), we add the item of exports from J been 80 ,895 bales more than same week last year and since
the United States, including in it the exports of Friday on ly. 1 Sept. 1 are 431,569 bales more than for same time in 1893.
October 27, 1894.J
THE
CHRONICLE.
745
00
O
tf*-
CO
Q u o t a t io n s f o r M id d l i n g C o t t o n a t O t h e r M a r k e t s . —
W eather R eports by Telegraph .—Reports to us by tele
Below we give closing quotations of middling cotton at South graph this evening from the South denote that the weather
ern and other principal cotton markets for each day of the w eek, conditions have on the whole been very satisfactory for out CLOSING QUOTATIONS FOR MIDDLING COTTON ON—
door work during the week and that the gathering of the
Week ending
crop has made excellent headway. Rain has been the excep
Tues.
Oct. 26.
Wednes. Thurs.
Mon.
F ri.
Satur.
tion, and where it has fallen the precipitation has, as a rule,
53b
5%
5 5 ,e
5 5 ,6
5 5 le
58s
Galveston...
been light. Cotton is being freely marketed, but our corres
5 5 ,6
5 5 ,6
5 5 )6
514
5 6 ie
5 Bi e
New Orleans
5 3 16
5 »i6
5 3 ,6
5 3 ie
pondent at Montgomery states that there is a growing dispos
5 «1 6
5 3ie
Mobile........
5 3 ,6
5 3 ,6
514
5%
534
5 3 ,6
Savannah..
ition in that vicinity to hold it for better prices.
5 5 ,0
534
53g
Charleston.
514
5 ° ie
5 3 ,6
Galveston, lex a s.—Vegetation needs more rain. Rain has
539
539
534
539
514
Wilmington
53s
53g
Ö Sg
53s
53g
fallen on one day of the week, to the extent of fifteen hun
5 7 ,6
538
Norfolk.......
578
578
5 1 6 16
578
5 1 3 ,6
51 5 le
B oston.......-,
dredths of an inch. Average thermometer 78, highest 8 6 ,
5 78
559
5%
5 »8
5 58
559
Baltimore..
lowest 71.
6 5 ,6
¿ 5 ,6
6 5 le
6 5 ,6
638
6 I4
Philadelphia
Palestine, Texas,—Cotton is being picked and marketed
514
A u g u sta ....
534 » ° 1 6 5 o 1 6 /* 3 8 5 1 4 3 0 1 3 5 3 4 3 5 ,0
5 5 16
5 5 ,a
0 & 16
538
5 5 ,6
5 5 le
M emphis....
rapidly. We have had one shower during the week to the
5 °1 6
5
3
8
5
3
s
5
3
g
5
7
,
e
539
5
5
,
6
St. Louis —
extent of eighteen hundredths of an inch. The thermometer
534
5 5 ,0
5 5 ,6
53s
5 5 16
H ou ston ....
534
has averaged 74, the hiehest being 88 and the lowest 60.
5%
5%
5%
5 ¡k
5\
5 1 1 ,6
Cincinnati..
53«
51«
5 1«
5 1«
51«
Huntsville, Texas.—The weather has been splendid for pick
Louisville...
533
ing cotton, which is coming in freely. There has been rain
on one day during the week, the precipitation being forty hun
Southern markets were as follows.
dredths of an inch. The thermometer has averaged 72, rang
I N ew berry......... . . . . . .
53fl Little R o c k .... 5
ing from 58 to 86 .
M ontgom ery... 415,g I R a le ig h ..........
5
5
Columbus, Ga.
47R N ash v ille......... Öl« 1S e l m a .....___ _
Dallas, lex a s.—The weather has been very favorable for
519
Columbus, Miss
5i¿ 1 S h re v e p o rt.....
N atch ez........ .
4% gathering cotton, but too dry to sow wheat, oats and rye.
5 1«
Eufaula___—
R E C E IP T S F ltUdm
M t
XHJ£
he P
_L l
JjAJNTAilUJN
a n t a t io n s
S .—
. The following
I O I l O W i n g table
tUDJo W e have had rain on one day during the week, to the extent
indicates the actual movement each week from the plantations. of thirty-three hundredths of an inch. The thermometer has
The figures do not include overland receipts nor Southern ranged from 52 to 88 , averaging 70.
San Antonio, Texas. —Rain has fallen on one day of the
consumption; they are simply a statement of the weekly
movement from the plantations of that part of the crop which week to the extent of seventy hundredths of an inch. The
rain was of benefit. Average thermometer 75, highest 88 and
finally reaches the market through the outports.
lowest 62.
Duling, Texas.—W e have had beneficial rain on one day of
Receipts at the Ports. St’k at Interior Tovms. Rec'pts from Plant’ns,
Week
Endino—
the week, the rainfall reaching one inch and twenty-three
1892. 1893. 1894. 1892. 1893. 1894. 1892. 1893. 1894.
hundredths. The thermometer has averaged 75, the highest
Sept. 31...... 120,328 95.849 145,547 142,600 96,756 84,519 127,871 107,734 163,236 being 90 and the lowest 60.
8 28...... 140.993 101.438 202,223 163,885 128 438 109,945 162,378 193,120 220,947
Columbia, Texas.—Picking progresses well. There has been
Oct. 5 ..... 191,120 223,458 214,616 186,233 156.962 151,909 213.468 251,980 237,280
needed rain on one day of the past week, the rainfall reach
“ 12...... 259,128 264,598 315,816 225,870 188,723 190,402 298,765 296,359 354,309
ing fourteen hundredths of an inch. The thermometer has
•• 19...... 270,733 286,789 381,131 259,990 227,101 233,893 304,853 325,167 424,627
averaged 70, ranging from 56 to 86 .
“ 26...... 290,470 358,238 397,676 288,774 276,982 274,265 319,254 408,119
Cuero, Texas.—It has rained on one day of the week, the pre
The above statement shows: 1.—That the total receipts from cipitation reaching forty hundredths of an inch. The ther
the plantations since Sept. 1 in 1894 are 2,023,217 bales; in mometer has ranged from 62 to 90, averaging 76.
1893 were 1,676,053 bales; in 1892 were 1,578,563 bales.
Brenham, Texas.—There has been beneficial rain on one
2.—That although the receipts at the outports the past week day of the week, the precipitation being one inch and thirtywere 397,676 bales, the actual movement from plantations was five hundredths. Average thermometer 77, highest 90 and
438,043 bales, the balance going to increase the stocks at lowest 64.
the interior towns. Last year the receipts from the plantation s
Belton, Texas.—Rain has fallen on one day of the week to
for the week were 403,119 bales and for 1892 they were the extent of one inch. The thermometer has averaged 73,
319,254 bales.
the highest being 90 and the lowest 56.
Fort W orth, Texas.—We have had light but needed rain on
O v e r l a n d M o v e m e n t f o r t h e W e e k a n d s in c e S e p t . 1 .—
We give below a statement showing the overland movement one day of the week, the precipitation being thirty-eight hun
for the week and since September 1. As the returns reach us dredths of an inch. The thermometer has averaged 71, rang
by telegraph late Friday night it is impossible to enter so ing from 52 to 90.
W eatherford, Texas.—W e have had rain on one day of the
largely into detail as in our regular monthly report, but all
the principal matters of interest are given. This weekly week, the precipitation reaching sixty-seven hundredths of an
publication is of course supplementary to the more extended inch. The thermometer has ranged from 52 to 94, averag
monthly statements. The results for the week ending Oct. 26 ing 73.
New Orleans, Louisiana.—W e have had no rain'during the
and since Sept. 1 in the last two years are as follows:
week. Average thermometer 74.
1894.
1893.
Shreveport, Louisiana.—W e have had a trace of rain on
one day of the week. Picking and marketing are active.
October 26.
Since
Sines
The thermometer has averaged 73, the highest being 87 and
Week. Sept. 1.
Week. Sept. 1
the lowest 58.
Shipped—
Columbus, M ississippi.—Picking is progressing satisfac
Via St. L o u i s . . . . . . .....................
41,917 129,443 115,920
53,068 torily. It has been dry all the week. The thermometer has
Via C airo......................... . . . . . .
17,799
51,421
9,156
24,896
Via H annibal...............................
50
980 averaged 65, ranging from 45 to 85.
177
529
Via E v a n s v ille ..........................
866
Leland, M ississippi.—There has been no rain during the
Via L o u is v ille .... . . . . . . . . . . . . .
2,362
6,645
17,207
7,848 past week. The thermometer has ranged from 47 to 94, aver
Via C incinnati............................
19,199
3,231
7,089
11,652
Via other routes, <feo................ .
5,273
15,762
2,015
12,140 aging 71*1.
Meridian, M ississippi.—The weather has been clear all the
T otal gross o v e r la n d ............
78,723 233,209 33,263 113,450 week. Planters have made good progress with picking, and
Peduct shipments—
Overland to N. Y ., B oston, & c.
9,450
2,892
15,939 some small farmers here have marketed all their cotton. It
29,275
Betw een interior t o w n s ......... .
2,821
1,791 is estimated that fifty per cent of the crop has already been
763
738
Inland, & c .,fr o m S o u th ...........
3,124
10,224 marketed. Average thermometer 64*, highest 82 and low
16,393
1,905
est 46.
T otal to be d e d u o te d .............. 13,337
27,954
48,489
5,535
L ittle Rock, Arkansas.—Telegram not received.
L eaving to ta l n e t ov erla n d *.. 65,386 184,720 27,728
Helena, Arkansas.—Picking is making rapid progress. Dry
83,496
weather has prevailed all the week. The thermometer has
* In clu d in g m ovem ent b y r a il to Canada.
1 Revised.
The foregoing shows that the week’s net overland movement averaged 68 , ranging from 48 to 84.
Memphis, Tennessee.—The weather has been dry all the
this year has been 65,386 bales, against 27,728 bales for the
week in 1893, and that for the season to date the aggregate net week, and picking has made good progress. The season to
overland exhibits an increase over a year ago of 101,224 bales. date has been splendid for harvesting. Receipts by river
have been hampered by low water, the present stage being
1894.
1893
about the lowest on record. The thermometer has ranged
In Sight and S pinners’
from 52 8 to 8 6 ‘ 8 , averaging 71*1.
Takings.
Since
Sine«
Week. Sept. 1.
Nashville, Tennessee.—The weather continues exceptionally
Week. Sept. 1
fine for gathering the cotton crop. W e have had dry weather
Receipts at ports to Oct. 26.......... 397,676 1,811,287 358,238 1,475.239 all the week. Average thermometer 67.
Net overland to Oct. 26............... 65,386 184,720 27,728
83,496
Mobile, Alabama.—The weather has been excellent for se
Southern consum ption to Oct. 26 17,000 134,000 17,000 128,000
curing the crop. Rain has fallen lightly on one day of the
T otal m a r k e t e d ......,
480,062 2,130,007 402,966 1,686,735 week, the precipitation reaching two hundredths of an inch.
Interior stock s in e x ce ss.
40,387 216,930 49,881 200,816 The thermometer has averaged 71, the highest being 84 and
the lowest 57.
520,429
452,847
T otal in sight Oct. 26.,
Montgomery, Alabama.—Cotton is being marketed freely,
2,346,937
1,887,551
but there is a growing disposition to hold on for better prices
376,891
173.753
than those ruling at present. The weather has been dry and
It will be seen by the above that there has come into sight warm all the week.
The thermometer has averaged 69,
during the week 520,429 bales, against”452,847 bales for the ranging from 51 to 87.
same week of 1893, and that the increase in amount in sight
Selma, Alabama.—There has been no rain during the week.
to-night as compared with last year is 459,386 bales.
The thermometer has ranged from 48 to 89, averaging 64.
THE CREO m CLE.
746
Madison, Florida.—Telegram not received.
Oolumbus, Georgia.—Bain has fallen on one day of the
week to the extent of thirty-four hundredths of an inch.
The thermometer has averaged 68 , the highest being 77 and
the lowest 58.
Augusta, Georgia.—Cotton is coming in freely. The
weather has been clear and pleasant all the week. The ther
mometer has averaged 67, ranging from 53 to 79.
Savannah, Georgia.—There has been no rain during the
week. The thermometer has ranged from 57 to 81, averaging
70.
Charleston, South Carolina.—There has been no rain all
the week. Average thermometer 69, highest 79 and lowest 58.
Stateburg, South Carolina.—The weather has been dry and
excellent for gathering the crop, but picking has been much
delayed by the unprecedented sickness among the negroes.
The thermometer has averaged 65*3, the highest being 78 and
the lowest 53.
W ilson, North Carolina.—There has been no rain during
the week. The thermometer has averaged 63, ranging from
40 to 80.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at
8 o’clock October 25, 1894, and October 26, 1893.
Oct. 25, ’ 94.
Oct. 26, ’ 93.
Feet.
3-3
0-9
0-3
4-6
3*2
Feet.
N ew O rleans___ ___ A bove low -w ater m ark.
M em phis............ ___ B elow low -w ater m ark.
N ashville............
S h reveport.........
V icksburg..........
A bove low -w ater mark.
2 -8
*4-5
1-5
0 -2
*1-4
I n d i a C o t t o n M o v e m e n t F r o m a l l P o r t s . — The
receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to October 25.
[VOL. L1X,
M a n c h e s t e r M a r k e t . —Our report received by cable to
night from Manchester states that the market is steady for
yarns and quiet for sheetings. The demand for cloth is poor
but for yarns is good. W e give the prices for to-day below
and leave those for previous weeks of this and last year for
comparison:
1894.
32* Cop.
Twist.
8 k lbs.
Shirtings.
d.
d. 8 .
4
55g 0638 4
53t
4
55g a 65ie 4
55g <06313 4
5^8 ®63à 4
8 p. 2 1 5 U i e® 6 k
“ 28
Oct. 5
“ 12
“ 19
“ 26
d. a.
6 ®6
5 ®6
5k® 6
5 ®6
5k® 6
5 k ®6
Shipments since Sept. 1 .
I t a r Great Conti
Great
B rit’n. nent. Total. B ritain
Conti
nent.
1894
1893
1892
1891
1 2 ,0 0 0
2 ,0 0 0
5.000
4.000
8 ,' 0 0 0 1 0 ,0 0 0
2 ,0 0 0 2 ,0 0 0
1 ,0 0 0 1 ,0 0 0
2 .0 0 0
2 ,0 0 0
Receipt»
This
Week.
Total.
17.000
40.000
31.000
29.000
36.000
29.000
27.000
Great
B ritain.
Calcutta—
18 94.........
1893.........
Madras—
1 8 94.........
1 8 93.........
A ll others—
1 8 94.........
1893.........
T otal a l l 1894.........
1893.........
Conti
nent.
2 ,0 0 0
1 ,0 0 0
3.000
5.000
3.000
6 .0 0 0
Great
Britain. Continent.
2 ,0 0 0
1 ,0 0 0
3,000
2 ,0 0 0
2 ,0 0 0
6 ,0 0 0
5,000
3,000
1 ,0 0 0
1 ,0 0 0
4,000
1 ,0 0 0
5,000
1 ,0 0 0
3,000
2 ,0 0 0
Total.
6 ,0 0 0
13,000
2 ,0 0 0
1 0 ,0 0 0
1 0 ,0 0 0
1 2 ,0 0 0
1 1 ,0 0 0
2 2 ,0 0 0
2 1 ,0 0 0
6 ,0 0 0
2 0 ,0 0 0
2 0 ,0 0 0
40,000
35,000
5,000
18.000
1 1 ,0 0 0
17,000
The above totals for the week show that the movement from
the ports other than Bombay is 1,000 bales more than the sami
week, last year. For the whole of India, therefore, the total
shipments since September 1, 1894, and for the corresponding
periods of the two previous years, are as follows:
BXPORTS TO EUROPE FROM ALL INDIA.
Shipments
to all Europe
fro m —
1894.«
This
week.
1893.
Since
Sept. 1.
This
week.
1892.
Since
Sept. 1.
This
week.
Since
Sept. 1.
B om bay...........
A lloth erp orts.
6 ,0 0 0
17.000
40.000
1 0 ,0 0 0
5,000
40.000
35.000
4,000
2 ,0 0 0
31.000
33.000
T o ta l..........
6 ,0 0 0
57,000
15 000
75,000
6 ,0 0 0
64,000
A lexandria R eceipts and Shipments.—Through arrange
ments we have made with Messrs. Davies, Benachi & Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt. The follow ing
are the receipts and shipments for the past week and fo» the
corresponding week of the previous two years.
1893
1894.
0 0
0 0
Receipts (oa n tars*)....
This w e e k ....
Since Sept. 1.
H*CO
COO
bo
Alexandria, Egypt,
October 24.
This
Since
week. Sept. 1.
E xports (bales)—
T o L iv e r p o o l............
T o C ontinent............
8 ,0 0 0
6 ,0 0 0
T ota l E u rop e......... 14,000
* A cantar is 98 pounds.
24.000
28.000
190.000
441.000
This
Since
week. Sept. 1.
Exports
from —
Savannah...
Chari’ t’n,&c
Florida, &o.
New Y o rk ..
B oston ........
B altim ore..
T o ta l........
5,000
3,000
7,000
33.2
37.2
1894.
Receipts to Oct. 26.
1893.
Stock.
This
This
Since
Since
week. Sept. 1 . week. Sept. 1. 1894.
T o t a l................ .........
2 ,0 0 0
1 ,0 0 0
2 ,0 0 0
31132
1893.
3,641
383
106
17,247
1,131
362
3,892
240
144
15,226
588
343
4,130
18,740
4,276
16,157 11,360 13,235
8,675 10,027
1,265
917
1,420 2,291
The exports for the week ending this evening reacb a toca 1
of 377 bales, of which 295 bales were to Great Britain, 82 to
23.000 France and — to Reval, and the amount forwarded to
62.000 Northern mills has been 1,553 bales. Below are the exports
23.000
63.000 for the week and since September 1 in 1894 and 1893.
Shipments since Sept.
Total.
d.
323.2
3916
3k
Since
Sept. 1.
According to the foregoing Bombay appears to show
a decrease compared with last year in the week’s receipts o
2,000 bales and a decrease in shipments of 10,000 bales, an
the shipments since Sept. 1 show a decrease of 23,000 bale«.
The movement at Calcutta, Madras, and other India ports f )
the last reported week and since the 1st of September, for twc
years, has been as follows. “ Other ports” cover Ceylor
Tuticorin. Kurrachee and Coconada.
Shipments fo r the week.
d.
6
4k
5
4
Sk
4
J u t e B u t t s , B a g g i n g , & c .—The market for jute bagging
has been quiet during the past week, and quotations have
been revised. The close to-night is at 5%c. for 1% lbs., 6 ^ c.
for 2 lbs. and 6 %c. for standard grades. Car-load lots of
standard brands are quoted at 5% @ 5% c. for 1% lbs., 61^c.
to 6 ^ c . for 2 lbs. and 6 %c. to 6 %c. for 23^ lbs. f. o. b. at
New York. Jute butts are dull at l% c. to lj£ c. on the spot.
S e a I s l a n d C o t t o n M o v e m e n t . — We have received this
(Friday) evening by telegraph from the various ports the
details of the Sea Island cotton movement for the week. The
receipts for the week ending to-night (October 26) and since
Sept. 1, 1894, the stocks to-night, and the same items for the
corresponding periods of 1893, are as follows.
BOMBAY RECEIPTS AND SHIPMENTS FOR FOUR YEARS.
Shipments this week.
1893.
Cott’n
Mid.
TTplds
1892
320,000
1,236,000
This
Since
week. Sept. 1.
7.000
7.000
24.000 13.000
26.000 6 ,0 0 0
62,000
28.000
52,000 14,000
50,000 19,000
90,000
Total 1893.
Week Ending Oct. 26. Since Sept. 1, 1894.
North’n Mills.
Great Fr’nce
Great F r’nce
Total. B rit’n. die.
Total.
Brit’n. dcC.
Since
Week Sept. 1.
____
_____
____
377
Ì0
M
1,536
10
449
_____
1,985
1,386
61
106
5,953
158
362
295
82
......
.........
.........
........
295
82
377
1,746
449
2,195
1,553
6,473
951
292
1,243
3,005
567
3,572
727
1,191
200
.........
200
A considerable portion of the Sea Island cotton snipped to
foreign ports goes via New York, and some small amounts via
Boston and Baltimore. Instead of including this cotton for
the week in which it leaves the Southern outports, we follow
the same plan as in our regular table of including it when
actually exported from New York, &c. The details of the
shipments of Sea Island cotton for the week will be found
under the head “ Shipping News,” on a subsequent page.
Quotations Oct. 26 at Savannah, for Floridas, common,
10c.; medium fine, 42c.: choice, 14c.
Charleston, Carolinas, medium fine, 17c.: fine, 24c.; extra
fine, 28 to 35c.
C o t t o n M i l l S t r i k e s , «fee.—There has been a marked
decrease in the number of looms in operation at Fall River
during the week. The weavers in some half-dozen mills have
gone out since Monday, refusing to work at the reduced scale
of wages. Some of the mill-owners are in favor of a general
shut-down until the wage question is settled.
E g y p t i a n C o t t o n C r o p .—The following report on the cot
ton crop in Egypt issued by the Alexandria General Produce
Association under date of September 30 has been furnished
us by Mr. Fr. Jac. Andres of Boston.
The temperature during September m ight have been m ore favorable
to the cotton p la n t; it was generally high during the day hut varied
frequently, and the nights were cool.
Fogs occurred, especially from 1st to 15th September, and the
worms, during the same period, continued to do damage in the districts
m entioned in our August report.
The inform ation therefore received about the crop differs consider
ably, and whereas m any o f our correspondents ex p ect results either
superior or equal to last year, others put forw ard serious complaints.
These complaints com e principally from the Charkieh where some
fairly large districts have suffered from worms, also from some local
ities o f the Dakahlieh and a part o f the Garbieh and M eaoufieh. The
first picking com m enced some days ago; it is neither earlier nor more
abundant than that o f 1893.
A lbeit the cotton plants bear a large number of bolls and flowers,
and consequently the second and third pickings will give excellent
results provided that the temperature is favorable during October and
the beginning o f November.
The out-turns in ginning noted up to the present are about equal to
th oseof last year a tth e satneperiod. In Upper E gyptand intheF avou m
the first picking is finished and the second well advanced. These
provinces show increase over last year.
As already noted, though the reports leave som ething to be desired,
the position o f the crop is good. M uch it must be admitted depends
still on the atmospheric conditions o f the next months. I f these are
favorable the crop m ay bfe larger than in 1893.
Up to the present arrivals from Lower E gypt are small. L ow prices
are keeping back cotton, and also the high Nile, w hich requires contin-.
ued watching on the part o f the fellaheen.
Exports of Cotton Goods from G reat B ritain .—Below
we give the exports of cotton yarn, goods, &c., from Great
Britain for the month of September and since October 1 in
1898-94 and 1892-93, as compiled by us from the British Board
of Trade returns. It will be noticed that we have reduced
1893-94 1892-93 1893-94
Lbs.
Lbs.
lotal of All.
Oloth.
YarnSeThread.
000* omitted.
Yds.
1892-93 1893-94 1892-93 1893-94
Yds.
Lbs.
Lbs.
Lbs.
1892-93
Lbs.
396,143 80,399 76,050
422,515 77,674 81,100
419,320 83,108 80,484
101,378
99,952
101,122
97,130
103,982
98,751
Tot.lst quar. 61,271 62,229 1,269,814 1,237,978 241,181 237,634
January...... 19,931 16,625 461,951 384,296 87,990 72,999
February.... 20,250 14,424 465,911 342,022 88,745 64,961
March......... 20,709 17,944 473,622 374,304 90,214 71,097
302,452
299,863
107,921
108,995
110,923
89,624
79,385
89,041
Tot. 3d quar. 60,890 48,993 1,401,484 1,100,622 266,949 209,057
Total 0 m os. 122,161 111,222 2,671,298 2,338,600 508,130 448,691
327,839
258,050
630,291
557,913
309,092 79,844 58,707
341,264 77,705 64,818
349,958 76,911 66,469
100,660
97,360
96,959
73,231
83,240
84,470
20,979 21,080
October......
November... 22,278 22,882
December... 18,014 18,26*
20,816 14,524
19,655 18,422
20,048 18,001
423,298
408,954
437,562
419,178
407,955
403,783
June............
Tot. 3d quar. 60,519 50,947 1,230,916 1,000,314 234,460 189,994
Totals mos.. 183,680 162,169 3,902,214 3,338,914 742,59C 636,685
294,919
240,941
925,270
798,854
429,595 87,586 81,594
432,716 81,396 82,187
420,440 81,113 79,856
110,477
102,238
101,000
102,580
103,436
100,265
September..
22,891 20,986
20,842 21,249
19,887 20,409
747
THE CHROM IGLE,
October 27, 1894.]
459,827
427,329
425,846
Total 4th qr. 63,620 62,644 1,013,002 1,282,751 250,095 243,637 313,715 306,281
Total year... 246,300 224,813 5,215,216 4,621,665 992,685 880,822 1,238,985 1,105,135
Total exports o f ootton manufactures.................................
,211,323
Total.
The particulars of these shipments, arranged in our usual
form, are as follows:
Bremen Other
Hull
ifi Ham- North
Liver- (&LonHavre,
burg. Europe.
don.
pool.
New Y ork. 6,879 2,982 2,283 1.082 1,226
___,
7,065 9,193 __. . .
N. Orleans. 19,593
14,991 8,726 .........
Galveston.. 15,364
.........
184 .........
V elasco. . .
__ _______
6,733
M obile. . . .
.........18,227 9,850
Savannah..
mmmmmrn ....... . . . . . . .
Charleston. 5 ,è l9
......... 6,500 . . . . . .
Port Royal 6,242 ___
......
.........17,569
Wilmingt’ n 9,328
669 ____„ __. . . . . . . . . . . . . . .
N’p’t News
__ r
...... ......... . . . . . .
B osto n ,.... 5,956
300
700 ......... 2,153
Baltimore.. 4,454
Philadel’ a.. 2,574 .........
.........
T o t a l.... 83,411
3,682 24,339 63,639 11,376
Spain, V.Orus
Italy <&<6HalA ust’a. ifax.
.......
1,708
.........15,795
...... ......
....... . .........
672
6,651
mrnmrnmm . . . . . .
mmmmmrn .........
mmmmmrn . . . . . .
mmmmmrn . . . . . .
......
50
...... ......
......... .........
Total.
16,160
51,651
39,081
184
7,405
34,728
5,619
12,742
26,897
669
6,006
7,607
2,574
8,359 16,517 211 323
1,293
24,378
Below we add the clearances this week of vessels carryir g
cotton from United States ports, bringing our data down o
the latest dates:
1,260,642 1,130,806
G alveston —To L iverpool—Oet. 18 -Steam er Sandfield, 5 .5 2 9 .....
Oot. 19—Steamer Hannah M. Bell. 8 .1 0 0 ....O c t. 2 0 —Steamers
1,310
20,347
Stockings and
Sundry articl
Total bales.
5,619
6,242
To Bremen, per steamer British Prince, 6,100................... .
6,100
400
To Hamburg, per steamer British Prince, 400...................... .
W il m in g t o n —To L iverpool, per steamer Chatfleld, 9 ,3 2 8 .. .....
9,328
To Bremen, per steamers Mayfield, 8,3 2 7 ....T erra , 9 ,2 4 2 ... 17,569
N e w p o r t N e w s —T o Liverpool, per steamer Rappahannock,
669 ................. ........ . . . . . ...... ............. ......................... ...............
669
B o st o n —To Liverpool, per steamers Cephalonia, 1 ,2 6 7 ....C o l
umbian, 1,613. ...M ichigan , 1,929. ...O ttom a n, 1 ,1 4 7 ..... 5,956
To Halifax, per steamer H alifax, 50. . . . . . . . . . . . . . . . . . . . . . .
50
B a l t im o r e —To Liverpool, per steamer Templemore, 4 ,4 5 4 .....
4,454
To London, per steamer Massap 8 q.ua, 700 . . . ......................«
700
To Bremen, per steamer Braunsohweig, 2 ,1 5 3 ............... ..
2,153
To Rotterdam, per steamer Venango, 300 ...............................
300
P h i l a d e l p h i a —To Liverpool, per steamer Southwark, 2 ,5 7 4 ... 2,574
C h a r l e st o n —To L iverpool, per steamer Inverness, 5 ,6 1 9 ........
P o r t R o t a l —T o Liverpool, per steamer Costa Rican, 6 ,2 4 2 ....
Paulina, 3,588; Tresoo. 6.942; Zanzibar, 8 ,2 2 6 .....O e t. 2 3 The foregoing shows that there has been exported from tt e
Steamers Nioeto, 5,175; Velleda, 6,722; Oot. 2 4 -Steam ers AldersUnited Kingdom during the twelve months 1,260,642,000 lbs. of
gate, 6,129; Leonora, 6,447.
To Manchester - Oct. 20 -S team er Darlington, 7,033.
manufactured cotton, against 1,130,806,000 lbs. last year, or an
To H a vre- Oct. 18—Steamer Khio, 6,889.
increase of 129,836,000 lbs.
To Bremen -Oot. 18—Steamer Bishopgate, 5,954 ....O o t . 2 5 A further matter of interest is the destination of these
Steamer Renwiok, 7,267.
exports and we have therefore prepared the following Ne w . O r l e a n s —To L iveroool - Oot. 2 0 —Steamer W e 9t Indian, 5 ,7 3 6 ....
Oot. 2 2 -S team er Merrimao, 12 ,062___Oot. 24—Stea ner A licia,
statements, showing the amounts taken by the principal
5 809.
countries during September and since October 1 in each of the
To H a v re -O ct. 22—Steamer Imaum, 11,9^8— Oot. 2 5 -S tea m er
last three years:
Lycia, 6,168.
T o B rem en -O ot. 2 0 -S tea m er Toledo. 6 ,6 5 1 ....O o t . 2 3 —Steamer
Conlsoliffe, 6,7 09
Oot. 2 4 -S tea m er Cambay, 7 ,0 0 0 ....O ot. 25 —
Steamer Cedar Branch, 5,996.
To Barcelona—Oot. 22—Steamer Roman, Prince. 700.
September.
Oct 1 to Sept. 30.
To Genoa—Oot. 2 2 —Steamer Roman Prince, 3,736.
S a v a n n a h —To H a vre—Oot. 20 - Steamer 8 ostou City, 3,350.
1894. 1893. 1892. 1893-94 1892-93 1891-92
To Bremen - Oot. 22—Steamer Marston Moor, 6,535.
To B arcelona—Oot. 24 - Steamer Norfolk, 5,025.
203,798 201.286 184,489 2.524,936 1.985,445 2.154.062
To G enoa—Oot. 2 5 —Steamer Loch Lotnord, 6.950.
72.268 56,991 55,456 771,720 631,998 681.294
83.509 32,919 36,531 512,331 430.123 576.811 C h a r l e s t o n —ToH avre—Oot. 20—Steamer Greatham, 2.100.
20,281 24,044 20,939 292,668 293,316 288,012
To B rem en -O ct. 2 0 —Steamer Greatham, 4 ,0 5 0 ...O ot. 23—3team )r
47.885 58.462 58,882 504,380 665,075 618,455
Glenveoh, 9,583.
23.249 23,930 21,274 270,580 279,234 239,006
To Gottenburg - Oot. 20 -S team er Serapis, 3,600.
24,856 24,808 20,754 338,571 286,604 288,711
To Warburg -O ct. 20 -Steam er Serapis, 1.000.
To Barcelona—Oot. 2 0 —Steamers Atlantic, 7,715; Dunkeld, 5,000.
425,846 420.440 398,325 5,215,216 4,621,855 4.896.351
£3,871 £4,188 £3,900 £50,360 £46,992 £49,701
To Genoa—Oot. 2 0 —Steamer Dunkeld. 2,200.
W i l m i n g t o n — To B rem en—Oct. 24—Steamer Aislaby, 9,335. .
B o s t o n — To L iverpool—Oot. 1 8 -S team er Kansas, 2 ,1 7 8 .. —Oot. 19 —
Steamer Catalonia, 1,528 ...O o t. 2 2 —Steamer Palestine, 1,409
35.558
34,808
44,071
2,317 3.605 3.086
....O o t. 23—Steamer Philadelphia, 1,556.
29.003
28,623
32,673
3,392 2,167 2,352
40,201
38.536
48,934
To H a lifa x —Oot. 20 -Steam er H alifax, 50.
3,789 3,201 3,849
38,224
41,638
45.594
4,073 4,225 4,453
To Y arm outh—Oot. 23 -S team er Yarmouth, 1.
27,516
29.406 B a lt im o r e —To L iverp ool—Oot. 17—Steamer Sedgemore, 1,822.
27.831
1,191 2.371 2.983
29,523
27,611
2,441 2,382 3.130
35.757
To B rem en—Oot. 24 -Steam er Stuttgart, 5,365.
11,144
12,433
12,037
1,402
943 1,047
To Ham burg—Oot. 20 -Steam er Hungaria, 600.
18.605 18.894 20.900 228.370 207,592 235.159 P h i l a d e l p h i a — To Antw erp—Oct. 16—Steamer Pennsylvania, 200.
EXPORTS OS’ PIECE GOODS AND TARNS TO PRINCIPAL COUNTRIES IN
SEPTEMBER, AND PROM OCTOBER 1 TO SEPTEMBER 30.
Piece Goods—Yards.
(000* omitted.)
East Indies ............................
Turkey, Egypt and A frica...
China and Japan.....................
Europe (except Turkey)........
South Am erica........................
North America ......................
All other countries................
Total yards........................
Total value........................
Yarns—Lbs.
(000s omitted.)
Holland.....................................
Germany..................................
0th. Europe (except Turkey)
East Ind ies..............................
China and Japan.....................
Turkey and E gypt.................
All other countries.................
Total lbs........................ .
Total va lu e........................
£9,952
£9.887
£9,011
£705
£805
£839
Ootton freights the past week have been as follows:
Shipping News .—The exports of cotton from the United
States the past week, as per latest mail returns, have reached
Tue». Wednes. Thurt.
Satur.
Mon.
211,323 bales. So far as the Southern ports are concerne , these
Liverpool,
steanud
784
764
764
784
764
are the same exports reported by telegraph and published in
....
....
....
Do
later..d.
....
....
the Chronicle last Friday. With regard to New York we
*4
*4
Havre, ste a m ....e. 23®25t
^4
include the manifests of all vessels cleared up to Thursday.
....
....
....
....
Do
s p o t ....... d.
....
Total bales.
Ne w Y o r k —T o Liverpool, per steamers Bovio, 6,534 upland
and 295 Sea Island....................... ........ . . . . . ............................
To Hull, per steamer Colorado, 2,882.
................... . . . „
To London, per steamer Massachusetts, 1 0 0 .............. . . ..
To Havre, per steamers La Champagne, 1,051 upland and
82 Sea Isla n d ....M o n o m o y, 1,150 ....... ......... ......................
To Bremen, per steamers Aller, 100
Ems, 4 7 1 . . . . _______
To Hamburg, per steamer Soandla, 5 1 1 ................................. .
To Antwerp, per steamer Rhynland, 1 , 2 2 6 . . . . . . . . . ___. . . . . .
To Genoa, per steamer Werra, «5 0.
.......
....... .............
To Naples, per steamer Kronprinz Friedrich W ilhelm, 1.058
Ne w O rleans —T o Liverpool, per steamers Bessel, 2.995 . . .
Gaditano, 6 ,1 1 3 ....In ven tor. 4 ,7 60__ Professor, 5 ,7 2 5 ...
To H avre, per steamer Parähyba, 7,065 ................. .
To Bremen, per steamer Aldvate, 9 .1 9 8 .... . . . . ....... ............
To Barcelona, per steamers Italian Prince, 2 ,2 3 9 ....M ig u el
Gallart, 6,4 98............................. .............. ......................... .
To Malaga, per steamer Miguel Gallart, 1 ,2 0 0 ........................
To Genoa, per steamer Italian Prince, 5 ,0 5 8 ............................
To Naples, per steamer Italian Price, 100 . . . ____________ _
To Trieste, per steamer Italian Prince. 7 0 0 ..............................
Galveston —T o L iverpool, per steamers A vona, 8,017 Blackheath, 7,347......... .............. . . . . . . ................................. . . .
To Havre, per steamers Breokfle’ d, 8,541 ....O vin g d ea n
Grange, 6,450............... .................................... ............ ............
To Bremen, per steamer Ben Croy, 6,856............ ............ .
To Hamburg, per steamer City o f Glouoestr, 1,870 . . . . . . . . .
V elasco —To Hamburg, per steam er White Jacket, 184............
M o b il e —To Liverpool, per steamer Hesper, 6,733 . . . . . . . . . . .
To Vera Cruz, per steamer Ravensdale, 672 ..... ............. .
Bavannah —To Bremen, per steamers Birdoswald, 2 ,4 5 0 .....
H olyrood, 7 ,i2 7 ....L a u re stin a , 5,050 ............ ............ .
To Hamburg, per steamer Birdoswald, 3 , 6 0 0 . . . . . . . . . . . . . . . .
To Reval, per steamers Axminster, 4 ,8 5 0 ....... CUntonia,
5,000 ............................... .............................................................
To Genoa, per steamer Wakefield, 6 , 6 5 1 . . . . . . . . . . . . . . . ....... .
6,879
2,882
100
2,283
471
511
1,226
650
1,058
19,593
7,065
9,198
8,717
1,200
5 ,0 ' 8
100
700
14,627
3,600
9,850
6,651
784
....
H
....
Bremen, steam, .d. l8 ® »6 4
38 ® 984
* 8 ® 964
....
....
....
....
....
Do
la te r ...d .
....
*8
*8
*8
Hamburg, steamd.
*8
*8
.... .
....
...
....
Do
later..d.
....
....
25t
25t
25t
25t
251
25t
Im s’dam , steam.e.
fteval, via H u ll.d, l l e4-1361
318
3ie
316
SJ8
316
.... ....
....
Do v. Hamb d.
....
....
....
....
....
....
B’lona, d ire c t...d .
....
••••
Genoa, stea m ...d .
984
964
984
964
964
9«4
Do
la ter. ...d .
538
532
532
532
532
532
Trieste, v.Genoa,d.
318
318
*16
3ie
318
316
Antwerp, steam .d. 7,54®is 33 2 ® 764 38 2 ® 76t 33 2 ® 764 s32®7S4 3S 2® 784
t Cents net per 100 lbs.
Liverpool .—By cable from Liverpool we have the following
statement of the week’s sales, stocks, «fee., at that port:
Oct. 5.
15 ,364
14,991
6,856
1,870
184
6,733
672
Fri.
Sales o f the w eek.. . . . . . . bales.
Of whioh exporters t o o k ___
Of whioh speculators t o o k ..
Sales A m erican..........................
Actual ex p o rt.............................
Forwarded...................................
Total stock—E stim ated............
Of whioh American—Estim ’d
Total im port o f the w eek.........
Of which A m e r ic a n ..........
Am ount afloat........................ .
Of w h ich A m erican................
8 8 ,0 0 0
3,100
1,500
77,000
6 ,0 0 0
6 8 ,0 0 0
799,000
642,000
43,000
35,000
94,000
84,000
Oet. 12
78,000
3,300
1,300
70,000
9,000
75,000
742,000
596,000
28,000
26,000
1 2 0 ,0 0 0
1 1 0 ,0 0 0
Oct 19.
Oet. 20.
95,000
3,600
1,600
94,000
8 6 ,0 0 0
8 ,0 0 0
8 8 ,0 0 0
73,000
708,000
568,000
46,000
41,000
185,000
175.000
2 ,2 0 0
1,400
7,000
78,000
679,000
543,000
56,000
52,000
245,000
235,000
THE CHRONICLE.
74:8
[VOL. LIX*
The tone of the Liverpool market for spots and futures eac h The spot market was stronger. The sales included No. 2
day of the week ending Oct. 26, and the daily closing prices mixed at 57^c.@53c. in elevator and 58%c.@58%c, delivered
DAILY CLOSING PRICES OP NO. 2 MIXED CORN.
of spot cotton, have been as follows:
Saturday Monday. Tuesday. Wednes. Thursd’y, F rid i
Spot.
Fair
Fair
Market, \ business
In buyers’ business
favor.
1:45 p. M. 5 doing.
doing.
M id.Upl’ ds.
3%
3 7S2
1 2 ,0 0 0
1 ,0 0 0
15,000
Spec. & exp.
Futures.
M arket, ?
1:45 p. M. }
1 ,0 0 0
Harden’«.
Market, \ Quiet and
4 P. M. J steady.
Quiet.
Firm.
3 732
3 73>
15,000
2 0 ,0 0 0
1 ,0 0 0
1 2 ,0 0 0
1 ,0 0 0
1 ,0 0 0
Quiet at Steady at Easy at
1-64 de 1-64 @ 2-64 partially
cline.
advance. 1-64 dec.
Steady.
Fair
business
doing.
314
3L2
1 2 ,0 0 0
1 ,0 0 0
Easier.
Quiet and
steady.
Easy at
3-64 de
cline.
Quiet at
1-64 ad
vance.
Steady.
Barely
steady.
Kovem bar d elivery ..___ 0 .
D ecem ber deli v e r y .....
. - . . 0o..
. . . .c.0 .
January delivery.........
. . . . 0.
May delivery..................o.
Sat.« Oct. 2 0 .
T u et., Oct. 2 3 .
Open High Loro. Oíos. Open High Low.
O ctob er...
O ct.-N ov....
N ov.-D ee...
Dec.-Jan....
Jan.-Feb.. .
F eb .-M ch ..
Mch.-April.
April-May..
May-J u n e..
June-July..
d.
3 06
3 06
3 05
305
3 06
3 OS
3 09
311
313
314
d.
3 06
3 06
3 06
3 06
3 07
3 08
3 10
311
3 13
3 15
d.
3 06
3 05
3 05
3 05
3 03
3 08
3 09
311
313
3 14
A.
3 03
3 08
3 06
3 06
3 07
3 08
3 10
311
313
315
W ed ., Oct. 3 4 .
d.
3 05
3 04
3 04
3 04
3 05
3 07
3 08
310
312
3 13
d.
3 05
3 05
3 05
3 05
3 03
3 07
3 09
310
312
314
Open High Low. Olos.
è
A.
d.
A.
3 04 3 04 3 07 3 04
3 03 3 04 3 06 3 04
3 03 3 04 3 06 3 04
306 '3 05 3 07 3 05
3 04 3 06 308 3 06
3 06 3 07 310 3 07
3 OS 3 09 311 3 09
3 09 311 3 13 311
311 313 314 312
312 314 318 314
A.
3 03
3 03
3 03
3 03
3 04
3 05
3 07
3 09
3 10
812
T h u rs., Oct. 25.
A.
3 07
3 06
3 06
3 07
3 08
310
311
3 IS
314
3 16
F ri., Oct. 26.
Open High Low. Olos. Open High Low. Olos. Open High Low. U-fc
d.
O ctob er.. . . 3 07
Oct.-Nov.... 3 07
N ov.-D ee... 3 07
D ec.-Jan.... 3 03
Jan.-Feb.... 3 09
F eb.-M ch.. 311
Mch.-April. 313
April-May.. 3 14
M ay-June.. 3 16
June-July.. 13 18
d.
308
3 08
3 06
308
3 10
311
313
315
3 16
3 18
A.
A.
A.
3 07*
3 07
3 07
3 07
3 09
3 10
312
314
315
317
3 07
3 07
3 07
3 03
3 09
311
312
314
313
3 17
3 03
3 03
3 03
3 04
3 05
3 07
3 08
310
312
3 13
d.
3 04
3 04
3 04
3 04
3 06
3 07
3 09
310
312
314
A.
A.
A.
3 03
3 03
3 03
3 04
8 05
3 07
3 08
310
312
3 13
3 04
3 04
8 04
3 04
3 06
3 07
3 09
310
312
314
3 04
3 04
3 04
3 04
3 06
3 07
3 09
3 11
312
314
d.
3 04
3 04
3 04
3 05
3 06
3 08
310
311
313
3 15
Sat.
. . . 0 . 32%
33%
34%
. . . 0 . 35%
37
Mon.
32%
33%
31%
35%
36%
3 04
3 04
304
3 05
3 06
8 08
310
311
3 13
315
Thurs.
5578
54
5 3%
5358
Fri,
5618
54is
5358
53%
Tues.
32
32%
33%
34%
36%
Wed.
31%
32%
33%
34%
36
Thurs.
31%
32%
33%
34
35%
Fri.
31%
321«
33%
3414
36
Barley has
PLODR.
Fine.................. $ bbl. $1 75® $2 00 Patent, w inter....... . $2 70®$3
3 25
S u p erfin e..... . . . . . . . . 1 9 0 ® 2 10 City mills ex tras.......
Extra, No. 2 ............... 2 00® 2 20 R ye flour, superfine.. 2 50® 2
Extra, No. 1 ................ 2 20® 2 40 Buckwheat flo u r ..... 2 00® 2
Clears............... . . . . . . 2 25® 2 50 Corn meal—
Western, &o....... .
2 80® 3
Straights.................... 2 50® 3 25
Brandywine . . . . . . .
3 10
Patent, spring........
3 25® 3 65
[Wheat flour in saoks sells at prices below those fo r barrels.
00
90
10
10
GRAIN.
0.
Wheat—
Spring, per bu sh .. 53 ®
R ed m u ter No. 2 .. 55 ®
R ed w inter............ 50 ®
W hite...................... 51 ®
Oats—M ixed,per hu. 31%®
W hite...................... 35 ®
No. 2 m ixed ........... 31% ®
35 %®
No. 2 w hite....... .
0
.
67
57
59
59
33
39%
32%
36%
Oorn, per bush—
c.
0.
West’ n m ix e d ...... 57 ® 59
No. 2 m ixed ....... .
57%® f>8 %
W estern y e llo w ... 57 ® 59
Western W hite___ 57 ® 59
R y e—
Western, per bush. 49 ® 55
State and Jersey ..
®
Barley—No.2 West’n 61 ® 62
State 2-rowed.......
®
State 6 -row ed....... .... ® ....
The movement of breadstuffs to market as indicated in tb e
statements below is prepared by us from the figures of the
New York Produce Exchange. We first give the receipts at
Western lake and river ports, arranged so as to present the
comparative movement for the week ending Oct. 20, 1894,
and since August 1, for each of the last three vears:
Receipts at—
Oats.
Oorn.
Barley.
Flour.
Wheat.
Bye.
Bbls.imbs Bush.60 lbs Bush.56 lbs Bush.3'2 lbs Bwsh.48 lbs Bu.56 lbs.
C hicago......
Milwaukee...
Duluth.........
Minneapolis.
BR EADS T U F F S .
Wed.
56%
54%
53%
53%
Rye has been in light supply and firmly held,
been quiet and without change.
The following are closing quotations:
A.
3 04
3 04
3 04
3 04
3 06
3 07
3 09
311
3 12
3 14
Tues.
56%
543s
53 %
54
DAILY CLOSING PRICES OP NO. 2 MIXED OATS.
T h u s. 3 63 m eans
Mon., Oct. 22.
Mon.
56%
54%
53%
53%
Oats for future delivery have been quiet and despite the
advance in oorn prices have declined under free offerings by
the West. The spot market has been moderately active at
declining prices. The sales yesterday included No. 2 mixed
at 31@81}^c. in elevator and No. 2 white at 34%@35c. in ele
vator. To-day the market was a trifle stronger on buying by
“ shorts” to cover contracts and in sympathy with corn. The
spot market was active and higher. The sales included
No. 2 mixed at 31^ @ 3 l% c. in elevator and No. 2 white at
353^c. in elevator.
The opening, highest, lowest and dosing prices of futures
at Liverpool for each day are given below. Prices are on
the basis of Uplands, Low Middling clause, unless otherwise
stated:
_ W
The prices are given in pence and 6Aths.
3 63-64<i. and 4 01 means 4 l-64d.
Sat.
5 6 1«
54*8
535s
53%
76,193
49,400
160,548
560,500
24,700
412,830
203,285
1,637,588
2,026,880
194,200
93,673
54,474
120.891
20,400
75,755
1,137,750
128,000
35,481
466,100
395,690
143,519
36,550
27,600
19,920
October 26, 1894.
6,100
4,100
2,459
700
It has been a very slow week in the market for wheat flour.
47,477
5,279
21,656
115,000
60,559
11,670
24,623
12,365
Buyers have held back for concessions, and as holders have Cleveland....
216,110
33,410
99,935
it. Louis......
141,233
3,531
shown no disposition to give way except on spring patents Peoria...........
261,800
7,350
225,650
55,000
4,800
26,444
business has been flat. Buckwheat flour has had a slow call, Sansas City.
but supplies have been light and prices have been well held.
Tot.wk, ’94.
981,079 1,919,721 1,328,907
346,309 4,839,976
73,181
68,680
350.724 6,064,333 3,983,123 3,149,021 1,902,801
Rye flour has been quiet and without change. Corn meal has lame wk,’93.
lame wk,’92.
340,572 . 8,587,445 3,067,200 3,506,332 1,339,738
288,573
met with a slow trade, but prices have been firmly maintained lines Aug. 1.
1894 .........
?26jl40
4,030,468 65,607,703 17,333,190 29,866,209 12,218,755
in sympathy with the grain. To-day the market for wheat
1893 ..........
3,887,739 56,969,591 41,465,337 39,569,784 7,362,004 1,005,524
flour was dull and without change.
1892...........
4,175,605j 95,416,150 34,152,201 35,420,483 7,609,853 3,249,611
Early in the week there was some improvement to the. tone
The receipts of flour and grain at the seaboard ports for the
in the market for wheat futures and prices made fractional
week ended Oct. 20, 1894, follow:
advances on buying by shorts to cover contracts, stimulated
Oats,
Bariev,
Flour.
Wheat,
Oorn.
Rye,
bush.
bush.
bush.
Receipts at—
bbls.
bush.
bmh.
by stronger foreign advices and a disappointing increase in New
8.500
York...........
1,105,467
167,425
473,000
84,975
80,479
1.130
143,185
500
Boston.................
3
<3,625
the supply in sight; but subsequently the continued full m ove, Montreal.............
1,299
152,974
53i
30,190
21.934
37,481
106,666
54,400
ment of the crop at the Northwest and a weaker turn to Philadelphia......
Í7.875
63,334
71,217
29,052
Baltimore...........
2,300
7,670
12,504
European advices caused a decline. In the spot market de Richmond...........
13,815
39.223
40,437
New Orleans ....
mand has been quiet but prices have held steady. Sales re
28,804
1,742,490
315.573
864,483
139,875
T otal week..
ported yesterday included No. 2 hard Kansas at December
34,762
2,070,175 1,198,503 1,107,719
106,964
price delivered and ungraded red winter at % ^ 2 J^c. under Week 1893.........
The total receipts at ports named in last table from Jan.
Dec. delivered. To-day was dull and without cnange or new
features of importance. The spot market was firmer but to Oct. 20 compare as follows for four years:
1892.
1891.
1894.
1893.
Receipts of—
quiet. The sales included No. 1 hard Manitoba at 9c. over Flour................
12,198,411
15,500,160
..bbls. 16,371,509
15,572,601
December f. o. b. afloat and No. 2 red winter at 56%o. de
78,654,331
102,275,601
81,039,768
W heat............. .hush. 46,479,424
livered. •
35,401,685
45,183,701
76,637,056
C orn................
F r id a y ,
DAILY CLOSING PRICES OP NO. 2 RED WINTER WHEAT.
Sat.
555a
. 0 . 583g
5958
May delivery...................o 61%
Mon.
553a
563a
593a
60 7a
Tues.
551a
56 %
59*11
61
Wed.
55*a
56*8
59*a
6058
Thurs.
5134
55%
58%
60%
Fri.
5478
55%
5878
603g
There has not been much spirit to speculative dealings in
the market for Indian corn futures, but prices have made
fractional advances on buying, principally by “ shorts” to
cover contracts, stimulated by the continued smallness of the
crop movement and the reduced supply in sight. Business in
the spot market has been more active, and yesterday the sales
included No. 2 mixed at 57c. in elevator, 57@57J^c. delivered
and 58c. f.o.b. afloat ; No. 2 white to arrive at 57^c. in elevator
and steamer mixed for November at 54c. in elevator. To-day
market made a slight further improvement on small receipts.
O a ts................
Barley.............
Rye..................
43,082,527
3,070,832
988,661
47,393,741
3,463,035
3,460,337
33,232,377
2,822,825
7,023,443
Total grain
170,880,042
233,278,760
159.570,098
The exports from the several seaboard ports for the week
ending Oct. 20, 1894, are shown in the annexed statement:
Exports from—
New Y ork............. .
.
.
.
.
New O rleans...... .
.
Wheat.
bush.
236,775
133,333
157,769
143,267
144,052
46,000
96,000
Oorn.
bush.
23,053
200
17,163
1,500
" ” "23Í
42,152
Total week.......... . 947.158
Same time 1893.... . 893,343 1,032,370
Flour.
bbls.
103,454
61,559
32,530
23,698
73,449
472
39,513
335,675
240,595
Oats.
hush.
6,168
1,778
7,946
51,636
Rye.
bush.
Peas.
bmh.
14,064
72,261
8,000
86.325
49,836
OCTOBEB
749
THE CHRONICLE.
27', 1894. J
The destination of these exports for the week and since in other colored cottons there has been no new feature on
<?<mt 1 1894, is as t# low. W e add the totals for the corres- home account outside of somewhat better sales of cottonades
ttaov
^Amnoria^n •
9 __ : _J__H
to the cutting-up trade for next season. The export demand
■Flour.--------- > ----------w heat.-------- > ,----------- Oiorn.----------n for both brown and colored goods shows an improvement,
Week Since Sept. Week Since Sept. Week Si/nce Sept. under the stimulus of impending higher duties on imports
Exports for
1.1894.
Oct. 20. 1. 1894.
Oct. 20.
1,1894.
,0eek and since Oct. ¿u.
into Brazil and Chili, and some good-sized contracts for im
bush.
bush.
bush.
bush.
bbls.
Sept. 1 to—
kkZs.
170,073
17,103
5.095.877
681,901
United Kingdom 214,338 1,393,854
mediate shipment have been concluded. This demand is,
17.521
146,894
2,683.928
235,177
2s0,527
Bleached
250
1,431
78;657 however, regarded as of a transient character.
191,200
g.0&C?Snërica.. |M78
56,048 cottons are inactive throughout, as are wide sheetings.
1,000
4,537
155,687
Cot
1,500
8.564
120
1,870
05,439
% t£ T c o V * .
1o’ 232
5,865 ton flannels quiet and irregular.
Kid-finished cambrics con
20,400
6,841
^ e r countries.._____357
for
471,001 tinue in limited demand and are selling on the basisof
8,403,323
42,152
947,198
,rnt„i
.............. 335,675
2,092,608
6,487,703 64 squares.
Other linings dull and few spring orders taken.
893,343 11,067,716 1,032,370
2,268,593
T otal 1893- .......... 210,595
The visible supply of grain, comprising the stocks in granary White goods in fair request in both staples and fancies for
at the principal points of accumulation at lake and seaboard next season. Business in fancy calicoes limited and other
regular prints dull, but prices are steady throughout. Special
ports, Oct. 20, 1894, was as folio ws*
Bye,
Oats,
Com,
Barley, lines for spring in wide goods, satines and other finishes in
Wheat,
bush.
bush.
bush.
bush.
moderate demand. Dark ginghams in dress styles inactive
1,000
2,907,000
17,000
289.000
i l g f e ............ 1 W 0 0
and staples slow. Fair progress reported with spring goods
10,000
293.000
25.000
Ne do
»float......... 651,000
95.000
230.000
55.000
in
fine zephyrs, swivel silks and other silk and cotton mix
Albany
808,000
52,000
30.000
342.000
9,000
Buffalo
tures.
Print cloths have been on the nominal basis of 2%c.
afloat.
’ 60,000 for extras all week, both sellers and buyers indisposed to
i08,ÖOÖ
1,402,000
1,525,000
Chicago . . • • • • •.25,310,000
Do
afloat....... m ••••
iÖ3,000 press business under existing manufacturing conditions.
‘ 17,000
‘ 79,000
M ilw a u k e e ...............
741,000
Do afloat ••••••
«•••••••
1892.
1893.
1894.
457.066
120,000
‘ 22,000
D uluth............ £ .......... 4,223,000
Oct. 21.
Oct. 21.
Oct. 20.
Do
afloat......... ^ . . . . . . . .
Toledo......................... f ’i S ’noo
Detroit...................
^
30.000
Oswego.............
6,393,000
gt. L ou is........
39.000
Do
afloat
2 L,000
Cincinnati.........
659.000
Boston..............
54,000
Toronto...........
32.000
702.000
Philadelphia.! ........... 1’?ooooo
Fndianapoiis'.'............
310,000
Kansas City................ f n a f ’oon
Baltimore..................... 1,064,000
Minneapolis................. 9,910,000
Bt. P a u l....... ............. .....................
On Mississippi River. . . . . . . . .
On Lakes.................... 970,000
On canal and riv e r... 1,512,000
Total Oct.
Total Oct.
Total Oct.
Total Oct.
Total Oct;
20,1894.78,659,000
13,1894.75,074,000
21,1893.66,979,000
23,1892.69,402,000
24,1891.34,644,251
THE
310.000
43.000
4.000
9.000
50.000
44.000
562.000
40.000
200.000
403.000
18.000
81,000
205.000
357.000
59,000
304.000
214.000
200.000
14.000
13.000
1,000
14.000
83.000
11.000
15.000
19.000
127,000
630.000
199.000
378.000
682.000
3.399.000
3.379.000
9.589.000
12,753,000
2,831,965
9.145.000
9.080.000
5.218.000
8.344.000
4,448,583
ï.bb'i
‘ 19,600
' 10,005
97.000
225,000
3.000
‘ ïô ,o ô 5
175.066
2,000
19.000
* feï.bëô
2.000
8,000
‘ *2,000
1,000
18,000
39,000
60,000
25,000
554.000
300.000
408.000
885.000
456.000
1.002.000
2,719,807
3.088.000
3.117.000
2.335.000
2.098.000
2,705,259
DRY GOODS TRADE.
N e w Y o r k , F r id a y , P. M.} October 26,1894.
197,692
T ota l.................................. 4,229
* F rom New England m ill points direct. .
37
361
144
57
423
9
1,342
....
1,342
X O ! Ï O W O O l05
COCO I OtO<JMC5
<JM
M *+
0505
WCO OGO CO
05<1
w co< T coo
COO ' MCO^JCOp!
05COMCOM
00W COto GO<1X
HMHtO
<105 OCH CO
M05MWO1
0 1 0 5 0 0 0 05
ÔHOQ0W
O COto ü! GO
HQOW COO
COO! VlMOiÜilo
coo M M CO tO
©!M
MOi COCO<1
05 <1
HMtOCOM
WM
COMW
W
o'co XO!
tOW
MO
Q<1MXX
©!M
to<i
05 COOi COW
Q5QD WCO
150,976
MM
'm'm C^OtM
OO05G0W
MOtOOlOl
<1X
MX
00 00
c o t s GO CO M
05CO05<1CO
COCflMMOt
<co
M 05
oo oo
CJ105<1tOM
MO00COCO
MOl Q tO00
oo
<, o<to
COI MO!
00
¡£ ÎGO05
CTI
CO M
fcO M CO
M I OM
toco
05O1Ü1
© b »M tO O
M 050 W O
M O 00 GOCO
M M COCPM
oiot w m ©
<IMM<10!
JOMOSpipl
M 05
0 !X
0300
W 05
WM
O X
OW<l<|<!
<| M M CJi'CTl
<1 COwoo co
^j'm'cooI o
O tO O M M
OM XM Q!
to^
1
-:s
»§■
co§
w£
w
<|C
OCJ«OÜ!
OpSXMp
O X GOMO! W
(»M ^H tO
CDOdOtXW .
<1X©M^
05 COX Ol 05
00OOMO
p!05<ip5plX
coI o m V ioi
cooixtoco
O^IMM05
M
MCwMM to
05 M M M CD
CJ1HIOHQO
MX COMtOCOM
COtoo COGO
050
M«n| <l<100l tO
$3
jo • Cb
MMtO
tOCOMMX
p! CDM*0CO.^ ?
VwwVw
MOCJÜ5X
X O*<1M<J
tO tO M tO
M O M W05
119,385
31,591
The value of the New York exports since January 1 has
been $9,294,509 in 1894 against $7,185,561 in 1893.
There has been but a limited demand from jobbers and
converters for brown sheetings, and prices show some irregu
larity. Brown drrills continue scarce. Denims are dull, and
VT<J I tool to COM
Value. |
*
15,153,391
14,833,009
31,536,015
11,054,941
j 10,274,629
177,936
19,756
....
....
4,061
1,373
26,262
5,536
10,152
6,129
. 16,034
2,030
4,000
41,574
2,234
MMMtO
x c o to x ©
0!0!<IOCO
05<MW<
XOdMWX
8,356,088
4.462,033
7,537,294!
3,545,427)
1,391,319
....
101
20
190
68,193
58,622
106,601
49,965
39,697
4,229
W eek. Since J a n . 1.
WM
MWtOtOtO
COMO X CO
X X MX <1
25,292,161
82,851,985
1
411
65
186
2,767
90
4,821
2,891
69,942
6,094
18,518
6,199
14,488
1,797
7,951
42,209
3,026
None.
The importations and warehouse withdrawals o f dry goods
at this port for the week ending October 25, and since Jan. 1,
1894, and for the corresponding periods of last year are as
follow s:
2
2
a
H
s
s
P
EH
p s g ftS
0
=t j
M erf ^ rj
P-o
a t t s p f l i
5
O?3c ■ 1 *r sef
>-*jo
ÊQ•
¡1
0
o :
is
0 :•
PS.
c•
m
m
&
e 't
0:
B
m
•d■
*0 fc?
85,897
636,451
T o ta l.................................
China, v ia V a n cou v er*....
139
349
64
157
607,000
I m p o r t a t i o n s a n 1 W a r e l i »use W i t h d r a w a l s o f D ry G o o d s
323,078
768,618
Great B ritain.........................
Other E uropean.....................
C h in a_________________ ____
India............ ...........................
A r a b ia ................. .
A frica ......................................
West I n d i e s . . . . . . . . . . . ....... .
M ex ico..... ............ ..................
Central A m erica....................
South A m e r ic a ................. .
Other Countries.....................
W eek. S ince J a n . 1.
172.000
None.
None.
demand for men’s-wear woolens
and worsteds in heavy weights for immediate delivery has
shown some improvement this week. Some sellers offer bal
ances of stocks, mostly in finer qualities, at some reduction of
prices. Low qualities are scarce. In light weights the de
mand has again been on an insignificant scale and restricted
to new orders from small traders, there still being an absence
of re-order business from early buyers. Prices of low grades
appear to have found bottom level, but in high qualities
there is still some revision of early quotations going on in
favor of buyers. The demand for overcoatings is restricted,
and business in cloakings further reduced by the cloakmakers’ prolonged strike. Cotton warp cassimeres and sat
inets very slow and irregular. Dress goods in fair demand in
low qualities of plain and fancy makes for both this and next
season, but fine goods dull. Flannels and blankets steady,
with moderate sales.
F o r e ig n D r y G o o d s .—The fancy goods and notions depart
ments have been fairly busy on account of holiday trade, but
outside of these business in seasonable lines is dull and prices
irregular. Orders for fine cotton fabrics for spring of fair
extent and moderate for dress goods, silks, hosiery, ribbons
and linens.
1893
1894.
N e w Y o r k t o O ct . 23.
T otal stock (p ie c e s )......... ...........
192.000
415.000
D o m e s t ic W o o l e n s . —The
1,182
3,789
The home demand for both cotton and woolen goods has
been limited in the aggregate, this week with no relief from pre
viously existing dull conditions. Reports from different parts of
the country show a very considerable falling off in trade, with
jobbers’ orders from retailers coming into them but slowly.
The retail trade is apparently suffering from too mild weather
here and elsewhere, and jobbers find supplies due to them on
back orders sufficient for the bulk of their present require
ments. There is a pretty general conviction now that the
supplementary fall trade will prove considerably short of the
volume it was at the beginning of the month expected to as
sume. Meanwhile engagements in both staple and fancy cotton
goods for the spring season are backward. There are buyers
willing to place orders for staples in quantity, but not at cur
rent prices, and although the tendency is downward where
sellers are not well covered by existing contracts, it is not
sufficiently pronounced to bring sellers and buyers together
for any important business for next season. Meanwhile
agents are catching up with their orders, ard buyers appear
disposed to wait and see what influence the decline in cotton
will have on the former when they are in the market again,
to a greater extent than now. The situation in Fall River is
so unsatisfactory that another general shut-down of the mills
is looked for. Such action would have a hardening influence
on some finished goods directly, and might sympathetically
help to sustain sellers in other directions.
D o m e s t ic C o t t o n G o o d s . —The exports of cotton goods
from this port for the week ending Oct. 23 were 4,229
packages, valued at 4243,577, their destination being to the
points specified in th* table bai ■«-
S tock o f P r in t O loths—
A t Providence, 64 squ ares... ............ 41,000
At Fall River, 64 squares___.......... .. 2 5 ,000 )
At Fall River, odd sizes........ ............. 106,000 5
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[V ol. DIX.
Attica, Ohio.— (C h r o n i c l e , vol. 58, page 831, and vol
page 571.)—On October 22 $15,000 of Attica water bonds wer«
awarded to Messrs. Dietz, Denison & Prior of Cleveland n
for $15,728. Eleven other bids were received for the loan ’’
t e r m s o f s u b s c r ip t io n .
Auburn, Neb.—(Chronicle , vol. 58, pages 611 and 786 1—
C o m m e rcia l a n d F in a n c ia l C H R O N IC L E con It is reported that this city has recently disposed of $20 000^
water-works bonds.
’
OI
tains 4 0 to 6 4 pages, published every week.
Boston, Mass.—(C h r o n i c l e , vol. 58, page 914, and vol 59
State a n d City Supplem en t of C H R O N IC L E con
pages 383 and 709.)—The Boston park loans to the amount of’
tains 1 8 0 pages, published periodically.
$] ,300,000 which were offered for sale on October 23d were
In vesto rs’ S up p lem en t of C H R O N IC L E (a Cyclo awarded to Messrs. Blake Brothers & Co. and Harvey Fisk &
paedia of Railroad Securities) contains 1 6 0 pages, published Sons, who made the joint bids of 113*555 for the $1,000 000 of
thirty-year bonds and 110*645 for the $300,000 of twenty-year
every other month.
bonds. The securities are registered and dated October 1
1894. They are described as follows :
’
Subscription to CHRONICLE for one year S I O.OO,
p a r k A.UAJNH.
Yvnen aue.
h a r k loan s.
When
which includes every issue of both Supplements.
4s, A. & 0 ..$1 .000,000.. Oct..1.1924 |4s, A ,& 0 .,$ 3 0 0 ,0 0 0 ....0 c t ,1,19U
Terms of Advertising—(Per inch space.)
One time . . ............
$3
50 I Tùree Months (13 tim es)..$25 00
One Month
(4 tim es).. 11 00 Six Months
(26 tim es).. 43 00
T w o Months
(8 4im es).. 18 00 | Twelve Months (52 tim es).. 58 00
(The above term s fo r one month and upward are fo r standing cards. )
T h e p u rp o se o f this S tate a n d City D e p a rtm e n t
is to furnish our subscribers with a weekly addition to and
continuation of the State and City Supplement. In other
words, with the new facts we shall give, the amplifications
and corrections we shall publish, and the municipal laws we
shall analyze in the “ State and City Department,” we expect
to bring down weekly the information contained in the
State and City Supplement to as near the current date as
possible. Hence if every Subscriber will note in his Supple
ment on the page designated at the head of each item a
reference to the page where the item in the Chronicle can
be found, he will at all times possess a complete and fresh
cyclopaedia of information respecting Municipal Debts.
B o n d P ro p o sa ls a n d N e g o tia tio n s.—We have r« aeived through the week the following notices of bonds
recently negotiated and bonds offered and to be offered for
gale.
Interest is to be payable at the City Treasurer’s office or will
be sent to the holders through the mail by check payable to
their order. A complete list of the bids received is given
below.
Baldwin Bros. Co.. .............................. $ 1 ,000,000.
do
do
................
300,000.
New Y ork L ife Ins. C o ....... ................ 1,000,000,
do
do
........................
300,000.
W. 1. Qulntard.................
1,000,000,
do
do
.„ .................................
300,000.
Farson, Leach & C o .............................
250,000
...........
250,000.
do
do
do
do
.............................
250,000.
do
do
.............................
250,000.
do
do
.............................
300,000.
Danl. A. Moran & Co...........................
100,000.
J. & W. Seligman & Co...................> 1,000,000.
N. W. Harris & C o ............................ £
300,000.
Lee, H igginson & C o.. ................. .
300,000.
K. L. Day & C o.........................
1,000,000.
do
do
......................................
300,000.
300,000.
E. H. R ollins & Son.............................
Blake Bros. & C o............................. > 1,000,000.
H arvey Fisk & S ons........................ 5
300,000.
Blodget, M erritt & C o.........................
200,000.
do
do
2 0 0 ,0 0 0 .
do
do
2 0 0 ,0 0 0 .
do
do
400,000.
do
do
......... . .............
300,000.
International Trust C o . . . . ................ 1,000,000
do
do
300,000.
Brewster, Cobb & E stabrook............
300,000..
Price.
.106.
.104.
.108-07
.106-11
.112-07
.109-78
.112-28
.112-05
.111-77
.111-55
.109-89
.111*32
.112-33
.109-27
.110-2356
.113-189
.11 019 9
.109-3396
.113-555
.110-645
,113-167
.113-037
.112-926
.112-788
.109 8 8 8
.110-661
.108-061
109-556
Brookfield, Mass.—The proposition of issuing $90,000 of
water-works bonds will be submitted at the next annual town
Aberdeen, S. D.—(S tate and C it y S dpplement . page 121.) meeting.
—Bids will be received until November 20 , 1894, by City
Burwell, Neb.—Bonds for $20,000 have recently been voted
Auditor J. A. Schlueter for $20,000 of 6 per cent refunding for an irrigation canal.
bonds to be dated January 1,1895. Interest will be payable semi
Cambridge City, Ind.—(Chronicle , vol. 59, page 201.)—
annually, January 1st and July 1st, and the bonds will
mature January 1, 1915. The securities will be issued in de Proposals will be received until November 1 for the purchase
nominations of $500 each, and they will be made payable at of 6 per cent water-works bonds to the amount of $25,000.
the Chemical National Bank of New York City. The loan
Canton, Ohio.—(Chronicle , vol. 58, pages 953 and 1118,
was authorized by popular vote at a special election held on and vol. 59, pages 38,163, 343, 525 and 709.)- A t the Novem
October 4th. The proceeds are to be used for the purpose of ber election the people of Canton will vote on the question of
refunding $20,000 of 8 per cent bonds which were issued in issuing 5 per cent bonds to the amount of $75,000 for the pur
1884 and are now subject to call at any time.
pose of improving Shriver’s Run by sewering. The proposi
Albany, N. Y.—(Chronicle , vol. 58, page 744, and vol. 59, tion to issue $17,000 of 5 per cent bonds for widening and ex
pages 525 and 616)—City Chamberlain William H. Haskill tending West Third Street will be voted upon at the same
sold at public auction on Wednesday of this week $17,000 of election.
Hawk Street improvement bonds. The National Savings
Cass County, N. D.—Bonds of this county to the amount
Bank of Albany secured $3,400 due November 1, 1895, at of $15,000 will soon be voted on.
100^; $3,400 due November 1 , 1896, at 100% , and $3,400 due
Council Blnffs School District, Iowa.—(S t a t e a n d C i t y
November 1, 1897, at 100%. The Albany Savings Bank was
the successful bidder for $3,400 due November 1 , 1898, at S u p p l e m e n t , page 112.)—The following is a list of bids re
101M, and $3,400 due November 1 , 1899, at 101 %. The bonds ceived this month for $10,000 of 5 per cent 10-year school
will be dated November 1, 1894, and interest at the rate of 4 bonds of the denomination of $1,0 0 0 :
Bidders.
Price.
per cent will be payable semi-annually on May 1 and Novem
N. W. Harris & C o................... ............ ............... .............................. .100-55
ber 1 .
Dietz, Dennison & P rior.............
,.100-05
Alden, Minn.—(Chronicle , vol. 59, pages 163 and 244.)— Mason, Lewis & C o.................................................................. " " Iioo-O O
No bids were received for a six per cent serial loan to the S. A . Kean.......... ...................................... .................................Iliiw ly i 99-00
L yon, Gary & C o .............................
100-33
amount of $5,000, which was recently offered for sale by W.
J. H ayes & Sons.........................................................................
100-95
Alden, Minn. The securities were to be dated November 1 ,
Dawson, Ga.—The citizens of Dawson will vote November
1894, and to mature part yearly from November 1, 1899, to
14 on issuing $35,000 of water-works and electric-light bonds.
November 1 , 1908.
Allegheny, Pa. — (Chronicle , vol. 58, pages 649, 691,
Dayton, Ohio.—(Chronicle , vol. 59, pages 244 and 571.)—
744,786 and 1081, and vol. 59, page 37.)—City Comptrol Street-paving bonds of the city of Dayton to the amount of
ler James Brown writes the Chronicle that the question of $375,000 have been sold to Messrs. Brewster, Cobb & Estabrook
issuing $500,000 of street improvement bon is will not be sub at 109 65, making the total amount to be paid for the loan
mitted to a vote of the people at the November election. It $411,187 50. The securities, which are payable by special as
has been decided to hold a special bond election in February, sessment on property benefitted, bear 6 per cent interest and
1895, instead of adopting the former plan.
mature part yearly from Nov. 1, 1895, to Nov. 1,1904.
Twelve bids were received for the loan as follows:
Arlington Heights, Ohio.—(Chronicle , vol. 59, pages 525
and 662.)—Proposals will be received until November 7 by J. B rewster, Cobb & E stabrook..................................................... $411,187 50
L. Day & C o ................................................................................ 410,055 00
T. Hall, clerk, for the purchase of $6,000 o f 6 per cent water R.
Blodget, M eritt & Co.................................................................... 409,789 0 0
works bonds. The loan will be dated November 1, 1894, in Z. T. Lewis .............................................................................. A ..- 409,305 00
terest will be payable semi-annually on May 1 and November Spitzer & C o ................................................. ................................. 408,827 00
408,805 50'
1, at the First National Bank of Lockland, Ohio, and the Farson, Leach & Co................................................. ...........
Bros. & C o................................................................... [ ’ Jffl 4 0 8,41 250
bonds will mature November 1, 1924, with an option of call Blake
Dietz, Denison & P rior.............. fe .......................................*.*” 408,337 50
November 1,1914.
H arvey Fisk & S on s...................................................... I . . . . . I I . 408,024 92
The hamlet has at present no bonded indebtedness, and its E. H. R ollins & Sons............................. ...... ............................... . 407,911 40
8 eason good& M a y er.................................................... ....H I " 406,547 25
assessed valuation, which is about two-thirds of actual value, E.
H. Gay & Co............................................................................. 405,563 00
for 1894 is $150,000; total tax rate (per $1,000), $26.
All of the bonds will be delivered to the purchaser at the
Astoria, Oregon.—(State and Cit y Supplement , page 147.) City Treasurer’s office on November 1, 1894, when the entire
In regard to the report that the city of Astoria will issue amount of the purchase money must be paid.
water bonds to the amount of $200,000, City Clerk K. Osbur n
We give below a statement recently published by the City
writes the C hronicle that the Water Commissioners have Comptroller showing the financial condition of the municip
not as yet reached a final decision in the matter. 5
ality at the present date.
THE CHRONICLE.
OCTOBER 27, 1894.]
751
ai
GENERAL BONDS.
p rincipal and interest payable from direot ta x upon the general
duplicate.
,$2,499,000
November 1 ,1 8 9 4
783,000
prater debt............■
,$1,711,000
Net debt
SPECIAL IMPROVEMENT BONDS.
principal and interest payable from assessments upon abutting or
benefited property.
November 1,1 894 , including this issue will be. .....................$1,436,165
VALUATION.
I
POPULATION.
Tii* valuation 1893...$40,670,750 Census 1890.......................... 62,220
True valuation ...........100,000,000 |October 1 , 1 8 9 4 . . . , ..............85,000
Dell Rapids, S. D.—The citizens of Dell Rapids will vote
October 29 on the proposition of issuing $9,500 of water-works
bonds.
Detroit, M ich.—(C hronicle , vol. 58, pages 915 and 1003,
and vol. 59, pages 38, 125, 299 and 525.)—The people of De
troit will vote on Nov. 6 on the question of issuing sewer bonds
to the amount of $250,000.
Da Bois, Pa.—Sewer bonds to the amount of $7,800 have
been voted.
Danlap, Iowa.—Water-works bonds of this municipality
have recently been voted.
Elsie, Neb.—Bonds of this municipality have recently been
voted.
Elyria, O hio.—(Chronicle , vol. 58, pages 787 and 1002.)—
On October 22 6 per cent street improvement bonds to the
amount of $12,144 96 were sold to Seasongood & Mayer of
Cincinnati at par, accrued interest and a total premium of
$852 25. There were ten bids received for the loan. The
securities were issued for the purpose of making improve
ments on Lodi Street.
Fall River, Mass.—(Chronicle , vol. 59, pages 40, 663 and
759.) —Proposals will be received until October 31 by Charles
P. Brightman, City Treasurer, for the purchase of a $25,000
water loan, dated November 1,1894, and payable November
1,1924. Interest at the rate of 4 per cent will be payable
semi-annually on May 1 and November 1.
Good Thunder, Minn.—It is reported that 6 per cent bonds
of this municipality to the amount of $15,000 have been sold
at 101-066%.
Henry County, Ohio.—Henry County has sold $8,000 6 per
cent ditch bonds to Messrs. Spitzer & Co. of Toledo,^Ohio, for
a total premium of $184.
■ •■
/
Long Prairie, Minn.—(Chronicle , vol. 59, page 710.)—
Sealed proposals will be received until November 7 at the
office of H. H. Budgett, for the purchase of $10,000 of village
bonds maturing at the rate of $2,500 every five years, the
first payment to become due in five years and the last in
twenty years from date. Interest at the rate of 6 per cent
will be payable annually, both principal and interest to be
payable at the office of the Village Treasurer.
Louisville, Ky.— (Chronicle , vol. 59, 'pages 245, 344, 572
and 710.)—Notice is given by the Mayor and President of the
Sinking Fund Commissioners of Louisville that $500,000 of 5
per cent city bonds dated May 1,1880, are called for payment
on November 1, 1894, and interest will cease on that date.
The securities became subject to call at the option of the city
after May 1,1890. They are payable at the Bank of America
in New York City. It is reported that 4 per cent bonds for
$500,000, maturing in 1910, have been issued to take up the
above-mentioned loan and that the refunders have been soldi
to a syndicate of local capitalists,
The official advertisement with reference to the bond call wil
be found elsewhere in this Department.
Medford, Mass.—(C hron icle , vol. 58, p a g e i565,1082 and
1120, and vol. 59, pages 164,526 and.617.)—Sealed proposals will
be received until October 29 by Parker R. Litchfield, City Treas
urer, for the purchase of $71,000 of “ Medford Public Loan”
4 per cent coupon bonds. Fifteen thousand dollars of the
bonds are dated July 1, 1893, and mature July 1, 1913, with
interest payable on January 1 and July 1, and $56,000, of the
bonds are dated November 1, 1894, and mature November 1,
1914, with interest payable on May 1 and November 1. Both
principal and interest of the bonds are payable at the Howard
National Bank, Boston.
Milwaukee County, Wis.— (Chronicle , vol. 59, page 617.)
—The $50,000 of 5 per cent 15-year bonds offered for sale by
Milwaukee County were awarded to Messrs. E. H. Gay & Co.
on their bid of par and a premium of $4,717 50. A list of all
the proposals received for the loan is given below.
Prem ium
Bidders—
Offered.
R. L. D ay & C o ............... $4,265-00
C. H. W hite & C o ............ 3,762-50
Dietz, Denison & P r io r .. 1,725-00
Blair & C o ......................... 4,165-00
J. W. Longstreet & C o ... 2,015-00
J. & W. Seligman & C o .. 4,135-00
Brewster, Cobh <fe E ....... 4,265-00
Z. T. L e w is..................... 4,525-75
N. W. Harris & Co........... 4,690-00
Mason, Lewis & C o . . . . . . 4,055*00
Third Nat. Bk., B oston .. 4,587*50
Prem ium
Bidders—
Offered.
Illinois Tr. & Savings B k$3,891-00
N orthwestern Nat. I n s .. 4,500-00
R. K leybolte & C o........... 3,258 00
E. H. R ollins & Sons . . . . 4,309-50
Comm ercial Invest. C o .. 2,250-00
Farm ers’ M echanics Savings Bk., M inneapolis. 2,706-00
Seasongood & M a y e r .... 4,566-50
Blodget, Merritt & C o ... 4,198-50
W. J. H ayes & Sons......... 3,642 00
E. H. Gay & C o................. 4,717-50
Marion, Ohio.—(Chronicle, voi. 58, page 915, and voi. 59,
pages 201 and 385).—Bonds to the amount of $74,000 have
been authorized for paving.
Montgomery, Ala.—(Ch ronicle , voi. 58, page 877.)—Im
provement bonds to the amount of $300,000 have been au
thorized,
Mount Yernon, N. Y.—(Chronicle , voi. 58, page 1046, and
voi. 59, pages 164, 246, 314 and 617.)—It is reported that $45,000 of 4 per cent school bonds were sold on October 15 at
101’47. The loan becomes due at the rate of $5,000 yearly from
1909 to 1917.
Newburg, N. Y.—(Chronicle , voi. 58, pages 916 and 1046.)
—Four per cent sewer bonds of the city of Newburg to the
amount of $26,000 have been sold to Isaac W . Sherrill of
Poughkeepsie, N. Y .
Newton, Mass.—(Chronicle , vol. 53, pages 917, 955 and
1048, and vol. 59, pages 126, 164 and 487.) —It is reported that
$60,000 of coupon sewer bonds of this city were sold on Octo
ber 19 to R. L. Day & Co. at 102*609. The bonds bear interest
at the rate of 4 per cent, payable semi-annually on April 1
and October 1 at the National Revere Bank, Boston, or at the
City Treasurer’s office, and mature at the rate of $20,000
yearly from October 1, 1900, to October 1, 1902.
Norfolk, Neb.—The people of this city will vote on issuing
$20,000 of bonds for an electric-light plant.
North Platte, Neb.—An election will probably be held in
this city to vote on issuing $30,000 of school bonds.
Norwood, Ohio.—(Chronicle , vol. 58, pages 877, 916, 955,
1004 and 1083, and vol. 59, pages 39, 84, 164, 202, 300, 487, 573,
617, 664 and 710.)—The village of Norwood has sold $15,000 of
5 per cent 20 -year water-works bonds to Seasongood & Mayer
of Cincinnati at 103-55. Six other bids were received for the
loan.
Orange, N. J.— (C h r o n i c l e , vol. 58, pages 955 and 1083,
and vol. 59, page 163.)—Sealed proposals will b 9 received until
October 25 by Alpheus Struble, city clerk, for the purchase of
$40,000 of coupon school bonds. The loan will bear interest
at the rate of 4% per cent, payable semi-annually, and will
become due at the rate of $5,000 yearly from 1900 go 1907, in
clusive.
Paterson, N. J.— (C h r o n i c l e , vol. 58, pages 956,1047 and
1121, and vol. 59, pages 300, 617 and 710.)—It is reported that
$ 120,000 of 4% per cent bonds of this city have sold at
109*59. The average time of the bonds is 45 years.
Phillipsburg School District, Mont.—It is reported that
this district has sold $30,000 of school bonds for $30,205.
Port Hnron, Mich.—Bonds of this city to the amount of
$40,000 for an electric-light plant will soon be voted on.
Port Dickinson, Ji. Y.—Water-works bonds of this village
are under consideration.
Price County, Wis.—Five per cent court-house bonds of
this county to the amount of $18,000 have been sold at 101 -2 £>.
The bonds become due at the rate of $3,000 yearly from April
I, 1899, to April 1, 1904.
Prinee Edward County, Ya.—An election will be held in
this county on November 12 to vote on issuing $50,000 of rail
road bonds.
Ridge Township, Yan Wert County, Ohio.—(C h r o n i c l e ,
vol. 58, page 693.)—Bids will be received until October 30 by
J. A. Tomlinson, Township Clerk, for the purchase of $12,000
of road improvement bonds. The securities will bear interest
at the rate of 5 per cent, payable semi-annually from October
1,1894, at the Van Wert National Bank, $3,000 of the amount
falling due April 1,1915, $7,000 April 1, 1916, and $2,000 April
1, 1917. This is the last of an authorized issue of $100,000.
Riverside, N. J.—Electric-light bonds of this municipality
to the amount of $18,000 are under consideration.
Riverside School District, Cal.—(C h r o n i c l e , vol. 59, page
617.)—The $10,000 of bonds recently authorized by vote of
this school district will not be offered for sale until next July,
when the old securities mature. The new bonds will bear in
terest at the rate of 6 per cent per annum, and $5,000 of the
amount will run for eight years and $5,000 for nine years.
Rockford Precinct, Garfield County, Neb.—(C h r o n i c l e ,
vol. 59, page 525.)—At an election held this month the people
of Rockford Precinct voted almost unanimously in favor of
issuing its bonds for $8,500 to the Burwell Irrigation Company
to aid in the construction of an irrigation canal. The securi
ties are to bear interest at the rate of 7 per cent per annum
and to mature in twenty years. The assessed valuation of all
property in the precinct is reported at about $ 100,000 and the
relation of assessed to real value at about one-seventh or oneeighth. The population of the precinct in 1890 was 647.
San Antonio, Tex.—(C h r o n i c l e , vol. 58, page 1002, and
vol. 59, pages 300 and 345).—It is reported that $500,000 of
gold sewerage bonds of San Antonio offered for sale October
15 have not been disposed of. The loan is dated September 1, %
1894, bears interest at the rate of 5 per cent, payable semi
annually at San Antonio or New York City, and matures/*
September 1, 1934.
Santa Rosa, Cal.—(C h r o n i c l e , vol. 59, pages 526 and 664.)
—This city has sold 4 per cent water bonds to the amount of
$165,000 to Mr, R :Lert Effey of Santa Cruz, Cal., at par and
accrued interest. The securities are dated in December, 1893,
and aecru ;d interest to the amount of $5,500 was paid on the
issue.
I
THE CHRONICLE.
752
South Bethlehem, Pa.—Bonds of this municipality to the
amount of $100,000 will probably be authorized.
South Omaha, Neb.—(State and City Supplement, page
126.)—According to the semi-annual report of the Finance
Committee of South Omaha the amount of general bonds of
the city outstanding on October 1, 1894, was $307,000. Dis
trict bonds to the amount of $288,850 are also reported, mak
ing a total indebtedness of $595,850.
Sparta, Wis.—On November 0 the people of Sparta will
vote on the proposition of issuing $22,000 of bonds for water
works.
Spokane, Wash.—(Chronicle, vol. 59, pages 488 and 617.)
—Notice was recently published to the effect that bids would
be received for the exchange of old Spokane water bonds to
the amount of $50,000 for 5 per cent twenty-year bonds of a
new issue to be dated September 1, 1894. City Treasurer W.
H. Wiscombe now writes us that all proposals received in
answer to the notice have been rejected and that bids on the
refunding will again be opened on November 3.
Talmage, Neb.—Bonds to the amount of $8,000 have been
voted for water-works.
Tiffin, Ohio.—Improvement bonds to the amount of $8,000
will soon be issued.
Tomah, Wis.—(Chronicle , vol. 59, page 526.)—It is re
ported that Tomah has sold $15,000 of water-works bonds
at 100 ’66%.
Wapakoneta, Ohio.—(Chronicle, vol. 59, page 526.)—At
the November election the village of Wapakoneta will vote on
the question of issuing water bonds to the amount of $60,000
and electric-light bonds for $7,000.
Yancouver, Wash.—(State and City S upplement, page
150,)_A recent report of the City Clerk of Yancouver shows
that the total municipal indebtedness on September 20, 1894,
was $76,281; the amount of collectible assets, $13,709, and
the net debt, $62,572.
N E W LO A N S .
$ 35,000
School Bonds, Hartford, Conn.
The undersigned invites sealed proposals fo r all or
any part o f the issue o f Four Per Cent Gold Bonds
o f the W a s h i n g t o n S c h o o l D i s t r i c t , o f t h e
C it y o f H a r t f o r d , C o n n e c t ic u t . The bonds are
fo r the aggregate amount o f thirty-five thousand
dollars ($36,000), in denominations o f one thousand
dollars ($1,000) each, interest and principal payable
in gold coin o f the United States o f the present
standard o f weight and fineness, at the Hartford
National Bank, o f Hartford, Connecticut, the inter
est being payable on the first days o f February and
August in each year. The bonds are dated August
1st, 1894, and mature twenty-five years from their
date, but may be redeemed upon the giving o f a
stipulated notice at any time after the expiration o f
ten years from their date. Proposals must state the
price offered for the bonds, and that the proposer
will pay in addition thereto the accrued interest from
the date o f the bonds to the first day o f December,
1894, and must be addressed to the undersigned, care
o f the Hartford National Bank, Hartford, Connec
ticut, «nd received at the bank on or before twelve
o ’clock, noon, o f the 12th day o f November, 1894.
Five per cent o f the face o f the bonds must be paid
down upon notice o f the acceptance o f the proposal,
to be forfeited in the event o f the non com pletion
o f the sale. The bonds will be delivered on payment
o f the balance at the above-named bank, at any date
desired, not later than the first day o f December,
1894. Copies o f the bonds, and o f the A ct o f the
General Assembly and o f the Resolution o f the Dis
trict under which they are issued, may be seen upon
application to Daniel H. Wells, Treasurer o f the
District, at the office o f the Connecticut Mutual Life
Insurance Company, at Hartford. The Committee
reserve the right to reject any or all bids or proposals
not deemed for the interest o f the District.
Dated at Hartford, this 25th day o f October, 1894.
JOHN F. RELIHAN ,
Chairman o f the District Committee
NEW
[Vol. L1X,
Washington School District, Hartford, Conn.—Bids win
be received until November 12 by John F. Relihan, Chairman
of the District Committee, care of the Hartford National Bank
for Washington School District bonds to the amount of $85 1
000. The securities will be dated August 1, 1894, bear interest
at the rate of 4 per cent, payable semi-annually (F. & A.), and
the principal will mature in 25 years, with an option of call
at any time after 10 years. Both principal and interest will
be payable in gold at the Hartford National Bank. The purchaser will be required to pay accrued interest to December 1
in addition to the amount of his bid.
Further particulars in regard to this offering will be found
in an advertisement elsewhere in this Department.
West Riverside School District, Cal.—(Chronicle, vol.
59, page 618.)—On October 13 7 per cent bonds of this schooi
district to the amount of $2,500 were sold to Mr. Isaac
Springer, of Pasadena, for par, accrued interest and a pre
mium of $36. Interest will be payable annually and the se
curities will mature part yearly in from one to six years from
September 5, 1894. The assessed valuation of the district is
$102,620.
Wheeling, W. Va.—A call has been made for the payment
of bonds of the loan of 1881, as follows: Numbers 40, 45, 58
111, 134, 148, 167, 176, 182, 187, 198, 229, 253, 258, 268, 284, 305
310, 811, 315, 342, 363, 378, 381, 385, 412,444, 446, 453, 460,485’
507, 525, 534, 538, 585, 595, 618, 623, 639, 700, 702, 710, 724, 725*
736, 739, for one hundred dollars each; numbers 7T2, 783, 792*
793, for five hundred dollars each, and number 862 for one
thousand dollars. They will be redeemed at the Bank of the
Ohio Valley on and after November 1, 1894, at which time
interest will cease.
Yuba School District, Cal.—(Chronicle, vol. 59, page 618.)
—Yuba School District bonds recently offered for sale were
withdrawn from the market at the request of the School
Board. The loan as advertised amounted to $4,000, bearing 6
per cent interest, payable annually. The securities were to
run for ten years from September 6, 1894. The assessed valua
tion of the district is $641,244.
N E W LO A N S .
LO A N S .
$ 65,000
BEXAR COUNTY, TEXAS,
6% Gold 10-40 Year Court House Bonds.
Dated August 18,1893.
Payable In New York.
.
Assessed valuation............. $30,031,652
Total Bonded Debt............. 1,028,950
Population, 1880, 30,470; 1890, 49,266; 1894, 57,000.
Bexar County is one o f the largest and best in the
State o f Texas. The City o f San Antonio is County
Seat. The County has varied agricultural interests,
and six railroad outlets diverging from San Antonio.
The indebtedness is low, being less than 4 per cent
o f the assessed valuation, and the financial standing
o f the County is o f the highest order.
These bonds are issued under the stringent gen
eral laws o f Texas, which render them legal under
certificate o f the A ttorney General o f the State.
Price and further inform ation upon application.
C. H. W H IT E & CO.,
BANKERS,
72 B R O A D W A Y ,
-
NEW VORK.
$ 75,000
City of Derby, Conn.,
German-American
Investment Co.,
5 2 W A D E S T ., N E W Y O R K .
Ground Floor, opposite Custom House.)
High
for investment by Savings Banks
and Trustees.
M aturing July 1 , 1 9 1 4 .
Principal and Interest Payable In Gold.
Price and Particulars on Application.
sent upon application.
M U N IC IP A L
-
-
NEW Y O R K .
W* J . Hayes & Sons,
Rudolph Kleybolte & Co.,
Cincinnati, Ohie.
BAN KERS,
Dealers in M UNICIPAL BONDS.
Street Railway Bonds and other high grade In
vestments.
3 1 1 -3 1 3 Superior S t . ^
Choice Investment Bonds of Cities,
r Exchange PIac^ ogton>
AND
UPON
Street, Wykes & Co.,
44 W A L E STREET,
-
NEW Y O R K .
BANKERS.
George Eustis & Co.,
C IN C IN N A T I,
P A R T IC U L A R S
A P P L IC A T IO N .
New York,
LISTS MAILED UPON APPLICATION.
BANKERS
AND
W . N . Coler & Co.,
Cable Address. - KENNETH.”
THE WALL STREET JOURNAL
P R IC E
40-42 Wall St.,
Counties and School Districts.
rives valuable information daily on stocks and bonds,
I6 _a year. DOW JONES & CO. 44 Broad Street.
BONDS
For Investment.
Farson, Leach & Co.,
3 0 W e s t Third Street.
Descriptive circular
20-YEAR FUNDING GOLD 4s,
OTICE is hereby given that the City o f Louisville
has called for payment on November 1st, 1894,
its Municipal Five Per Cent Ten-forty Bonds, dated
May 1st, 1880, o f one thousand dollars each, num
bered from one to five hundred inclusive, and pay
able at the Bank o f America, New Vork. Interest a W A IiD S T R E E T ,
on said bonds will cease on the 1st day o f Novem
ber, 1894.
H EN RY S. TVLER, Mayor.
CHAS. H. GIBSON,
Pres. Sinking Fund Commissioners.
In vestm en t B a n k e r s ,
Grade Municipal Bonds
BROKERS
O H IO .
M U N IC IP A L BONDS.
34 NASSAU STREET.
Octo be r
THE CHEONICLE.
27, 1894.]
753
Cazenovia, N. Y.—(C h r o n i c l e , vol. 59, page 616.)—D. H.
STATE AND CITY DEBT CHANGES.
We subjoin reports as to municipal debts received since the Doremus, Mayor ; C. B. Cannon, Treasurer. The following
last publication of our S t a t e a n d C i t y S u p p l e m e n t . statement regarding the financial condition of Cazenovia has
Some of these reports are wholly new and others cover items been received from George W . Salisbury, Village Clerk. No
of information additional to those given in the S u p p l e m e n t , report from this village appeared in our S u p p l e m e n t .
Cazenovia is in Madison County.
and of interest to investors.
When Due.
LOANS-
T ax valuation, personal.$206,200
S e w e r B o n d s—
. Total valuation 1894____ 932,175
Newark, Ohio.—W e give below a portion of the statement 3^28,
M&N, $41,000. Nov. 1 ,1 9 1 4 Assessment not *2 actual value.
Interest payable in New York,
w h ich appeared in our last S t a t e a n d C i t y S u p p l e m e n t re
I Total ta x (per $1,000)....... .$25-60
Total debt Oct. 1 0 ,1 8 9 4 ...$ 4 1 ,0 0 0 Population in 1890 w a s.........1,987
garding Newark’s finances, which has been revised by means T ax valuation, r e a l............ 725,975 Population
in 1880 w a s ......1 ,9 1 8
of later information.
T A X FR EE .—A ll o f the bonds issued b y this village are exem pt
TO T A L D E B T , Et c .—The city ’s total debt ia at present $280,331.
The bonded debt on Sept. 1, 1893, was $329,500; floating debt,
$6,231; total debt, $335,731. The total bonded debt on March 16,
1891, was $269,245; sinking fund $11,500; net. debt, $257,745 ; float
ing debt, $19,300.
ASSESSED V A LU A T IO N fo r 1894 is $6,015,000; real valuation,
$10 ,0 0 0 , 0 0 0 . In 1893 the assessed valuation w as $5,950,870; ta x
rate (per $1,000), $29-40. In 1885 the total assessed valuation was
$5,182,818.
P O P U L A T IO N —The population in 1890 was 14,270; in 1880 it was
9,600; in 1870 it was 6,698.
Louisville, Ohio.—(C h r o n i c l e , vol. 59, pages 245 and 440).
W. H. Rinehart, Mayor; A. J. Metzger, Treasurer. The fo l
lowing report concerning the financial condition of Louisville
has been received from F. E. Favret, Clerk. No report from
this municipality appeared in our S t a t e a n d C i t y S u p p l e ment .
Louisville is in Stark County
LOANS.
When Due.
Total debt Sept. 1 ,1 8 9 4 ...$ 2 0 ,0 0 0
I m pr o v e m e n t B o n d sT ax valuation 1 8 94...........465,250
08, M&N, $2,000___ May 1,1895-6 Assessment about
actual value.
W ate r W o r k s B onds —
Population in 1890 w a s......... 1,323
5s, F&A, $ 1 8,00 0..A ug. 1, ’ 97-’ 14 Population in 1380 w a s.........1,050
($ 1 ,0 0 0 due yearly.)
Population 1894 (about)....... 2,000
INTEREST on the im provem ent bonds is payable at L ouisville ; ou
the water-words bonds at the Am. E x. Nat. B k „ N. Y ., or in Louisville.
C H IC A G O .
from taxation.
Pueblo, Colo.—L, B. Strait, Mayor; C. E. Ross, City Clerk.
The figures of indebtedness given in the following statement
have been corrected to September, 1894.
Pueblo is situated in Pueblo County.
LOANSAmount. I Assessment about 13 actual value.
Total debt Sept., 1 8 9 4 ... $237,000 Population in 1890 was ....2 4 ,5 5 8
T ax valuation 1 8 9 3 ........ 9,798,085 I P opulation 1893 (local eW .).29,900
T A X RATE (per $ 1 ,0 0 0 ), $56-00, including State ta x $ 4 -0 0 , coun ty
ta x $12-50, city, school district, etc., tax, $39-50.
Pulaski County, Ind.—Following is a statement of the
financial condition of Pulaski County in August, 1894. No
report from this county appeared in our S u p p l e m e n t .
County seat is Winamac.
Total debt Aug., 1 8 9 4 ... $43,959 I R eal valuation....... .....$ 9 ,0 0 0 ,0 0 0
T ax valuation...................4,971,250 |P opu lation in 1890 was____ 11,233
Reedsburg, Wis.—(C h r o n i c l e , vol. §9, page 526.)—A . L
Harris, Mayor; Daniel Mepham, Treasurer. The following
statement regarding Reedsburg’s debt, valuation, &c., is
taken from a special report to the C h r o n i c l e . This city is in
Sauk County.
LOANS-
Water
and
C H IC A G O .
S'
P S S31® ? ’ Member N. Y. Stock Exchange
Y. BAKER., Member Chicago Stock Exchange
Title Guarantee & Trust WM.
A. O. Slaughter & Co.,
Company
tz
OF
When due.
E l e c t r ic L ig h t -
58, J.&J., $30,000,....... Jan 1 ,1 9 1 0
Total debt Oct., 18 94____ $30,000
T ax valuation, rea l........... 442,000
C H IC A G O ,
93, 9 4 & 9 6 W A S H IN G T O N S T R E E T .
Capital, paid-up............................$ 1 ,6 9 0 ,0 0 0
Undivided earnings. Including
surplus........................... .................
3 3 9 ,0 0 0
Deposited with State Auditor. .
3 0 0 ,0 0 0
GUARANTEES TITLES TO REAL ESTATE.
MAKES ABSTRACTS OP TITLE.
Oilers Investors In real estate securities
protection afforded hr no other system ol
doing business.
Ii authorised bylaw toaot as Registrar of Stocks
and Bonds, Executor, Receiver and Trustee for
Estates, Syndicates, Individuals and Corporations.
Trust moneys and trust securities kept separate
from the assets of the Company.
CORRESPONDENCE SO LIC ITE D .
OFFICERS:
GWYNN GARNETT, President.
A. H. SELLERS, Vice-President
ARCHIBALD A. STEWART, Secretary.
CHAS. R. l a r r a b e e . Treasurer,
FRANK H. SELLERS, Trust Officer.
DIRECTORS:
Gwynn Garnett
Chav. W. Drew,
W. D. Kerf oot,
John P. Wilson.
Horace G. Chase,
Edson Keith,
John G. Shortall,
Geo. M. Bogue.
John DeKoven,
A. H. Sellers.
Samuel B. Chase,
COUNSEL:
W. O. Goudy,
John P. Wilson.
A. W. Green
A. M. Pence,
BANKERS,
1 1 5 -1 1 7 L A SA L L E ST R E E T ,
C H I C A G O , I L .L .S .
¡Chicago Securities Bought and Sold.
Jamieson & Co.*
STO C K S—B O N D S ,
Members New York and Chicago Stock Exchanges
1 8 7 D E A R B O R N ST R E E T ,
Chicago, Ills .
Private wire to New York, and Philadelphia.
Loeb
&
Gatzert,
MOBTGAGE BANKERS,
1 3 5 L A S A L L E S T R E E T , C H IC A G O .
First Mortgages for sale in large and small amounts
netting investors 5, 6 J^ and 6 per cent, secured by
improved and income-bearing Chicago city property.
Principal and Interest payable in Gold.
CORRESPONDENCE SOLICITED.
BONDS
YIELDING AN INCOME OF
4 % TO 6 %
C ITY, MASON, LEW IS St CO., Bankers
C OU N TY
171 LASALLE STREET,
SCHOOL send f o r lists .
CHICAGO.
SECURE BANK VAULTS.
A. G. Becker & C o.,
T ax valuation, p erson a l..$243,000
Assessment about *3 actual value.
T ax rate par $1,000.............$13-25
Population in 1890 w as____ 1,737
Population in 1880 w as....... 1,331
M IS C E L L A N E O U S .
J . Spencer Turner,
¡SUCCESSOR TO
B r in c k e r h o f f , T u r n e r & C o .,
MANUFACTURER AND DEALER IN
C O T T O N S A IL D U C K
AND ALL KINDS OF
COTTON CANVAS FELTING DUCK,
CAR COVERING BAGGING,
RAVENS DUCK, SAIL TWINE, * o „
POPE "AW NING’’ STRIPES.
A sm
UNITED ST AT E S BUNTING CO.
A full supply all Widths and Colors, always In
IwOCka
_______________ 1 0 9 P u s h * « tr e e t.
Bliss, Fabyan & C o.,
N E W Y O R K , B O S T O N ,P H IL A D E L P H IA ,
Selling a g en ts f o r L eading B rands
B R O W N and BLE A C H E D S H IR T IN G S
and SHEETINGS,
PRINTS, DENIMS, TICKS, DUCKS, AO.
Towels, Quilts, W h ite Goods and Hosiery.
Drills, Sheetings, die., for Export Trade.
S E A R S & W H IT E ,
Successors to
EUGENE R. COLE,
S T A T IO N E R S A N D P R IN T E R S .
Supply Banks, Bankers, Stock Brokers and Cor
porations with complete outfits o f Account Book*
and Stationery.
t W New oonoerns organizing will have thel
orders promptly executed.
Mo. 1 W I L L I A M S T R E E T .
(in c o r p o r a t e d )
SUCCESSORS TO
HERMAN
SCHAFFNER
* CO.
COMMERCIAL PAPER,
154 La Salle Street,
6 % an d 7% G o ld M ort^ao-es.
Interest Allowed from Date of Receipt of Money
E. S. DREYER & CO.,
Mortgage Bankers,
C H IC AG O , I L L
First Mortgage Loans on Improved Productive
Real Estate Centrally Located.
SOy e a r s B u s in e s s W i t h o u t L o s s t o I n v e s t o r s .
Address all communications to Eastern Office.
Astor Building, 9 Pine Street, New Y o r k
QENU INE
• Chicago, 111. WELDED CHROME STEEL AND IROi
n Round and Flat Bars and 5-ply Plates and AntcxSl
„
FOR SAFES, VAULTS, Ac.
Cannot be Sawed. Cut, or Drilled, and positivel]
Burglar-Proof.
CH ROM E STEEL W O R K S,
Sole v an»f.arg in the U. S. B R O O K L Y N . M.
W m. Wisher & Sons,
BANKERS AND BROKERS,
3 3 South Street.
B altim ore, M d.
SOUTHERN INVESTMENT SECURITIES.
Montgomery, Ala.
THE CHRONICLE.
X
(Jkrltmx,
©xrttmi.
W OODW ARD
& ST IL L M A N , IN M A N , SW AN N & Co
Walter T. Hatch,
H enry Prescott Hatch,
Arthur Melvin Hatch
Members of N. Y. Stock and Produce Exchanges
W . T . Hatch & Sons,
96 Broadway & 6 Wall St., New York,
MERCHANTS
COTTON MERCHANTS,
16 to 22 WILLIAM STREET,
NEW
(V ol. LIX.
M ew Y ork «
YORK.
Dealers in investment stocks and bonds.
Personal attention given at the N.Y. Stock f c .
change for the purchase and sale on nn™™<fft|0n „1
Stocks and bonds for dash or on margin.
*
Interest fallowed on deposits, subject to draft
sight.
11
COTTON OF A L L GRADES SUITABLE TO
WANTS OF AM ERICAN SPINNERS.
M h m a n , Ste r n & C o., Lim ited, New Orleans, La.
L eh m an -D u r r Co ., M ontgom ery, A la.
L E H M A N BROS.,
conmssioN m e r c h a n t s ,
Henry Hentz & Co.,
C O M M IS S IO N
M ER CH ANTS,
1 6 to 2 3 W illia m S t., N ew Y o r k .
EXECUTB ORDERS FOR FUTURE DELIVERY
Nos. 16*22 William Street,
COTTON,
NEW TO R E.
A t the New York, Liverpool and New Orleans
Cotton Exchanges. Also orders for
MEMBERS OF THE STOCK, COTTON, COF
FEE A N D PRODUCE EXCH ANGES,
Ne w Y o r k .
O rden execnted on th e above E xchanges as w ell
as in New Orleans, Chicago and foreign m arkets.
F.
H.
Prince & Co*,
BANKERS,
BOSTON,
MASS.
H I G H GJRAJDJE I NV ES T ME NT S
COFFEE,
At the New York Coffee Exchange, and
G R A I N AMD P R O V IS IO N S ,
Memberslof New York and Boston Stock Exchanges '
A t the New York Produce Exchange
and the Chicago Board of Trade.
Hubbard, Price & C o., Hopkins, Dwight & C o.,
COTTON EXCHANGE BUILDING.
N E W Y O R K ..
(tonerai Commission Merchants.
Members New York Stock Exchange, New York
Cotton Exchange, New York Produce Exchange, New
York Coffee Exchange, Chicago Board o f Trade.
Crders executed on any o f the above Exchanges,
also for pnronase and sale of cotton for fntcre de
livery in New Orleans and Liverpool. Liberal ad
vances made on cotton consignments.
P R I C E , R E I D & C O .,
Norfolk, Va.
Spedai attention given to orders for ootton for
foreign or domestic shipment.
3. o . bloss.
Gao. H. Church ,
J ^ O . BLOSS & C O .,
COTTON
M ERCHANTS,
9 3 W illia m S t r s s t ,
NEW Y O R K .
W. D. R ountree.
A lbert l . R ountree '
W . D. Rountree & C o.,
COMMISSION MERCHANTS
C O T TO N E X C H A N G E B U IL D IN G . N E W
Y O R K , and N O R F O L K , Y A .
COTTON. COFFEE, GRAIN, PROVISIONS AND
STOCKS.
A . A . Goldsmith, Agt.
COTTON BROKER.
SAMPLES AND PICKINGS A SPECIALTY.
C H A R L E S T O N , S . G.
Correspondence Solicited.
C O T TO N , C O T TO N SE E D O IL
AND
SOUTHERN PRODUCE
COMMISSION
MERCHANTS
R o om 5 2 , C otton E x c b a g e B u ild in g ,
NEW YORK.
utnstavns C. Hopkins,
Charles D. Miller,
Lucius Hopkins Smith.
Samuel Hopkins.
P a u l Sch w a bs ;.
S. A F a t m a n , Special.
Fatman & Schwarz,
C O T TO N C O M M IS S IO N M E R C H A N T S .
1 W illia m S tr e e t, N ew Y o r k .
Members New York Cotton, Coffee and Produce
Exchanges.
G eo . W. B a i l y .
J. A. M o n t g o m e r y
Geo. W . Baily & Co.,
COMMISSION MERCHANTS,
COTTON AND NAVAL STORES.
C o tto n E x ch a n g e B ld g .
NEW Y O R K .
Execute Orders for Future Delivery o f Cotton.
Correspondence invited.
Private wires to all important points North, South,
East and West.
B A N K E R S AND B R O K E R S .
Contracts for Cotton Future Delivery execnted on
the Liverpool, New Orleans and New
York Exchanges.
NEW Y O R K ,
I NEW ORLEANS,
4 8 E x ch a n g e P la c e . 11 9 0 C om m on S tr e e t.
Jos. O. Osgood,
COTTON M ERCH AN TS,
P H IL A D E L P H IA .
L iverpool correspondents
Frederic Zerega Sz Co.
Bremen Correspondents
McFadden, Z erega Ac Co.
M. Am. Soc. C. E.
C on su ltin g E n g in e e r.
Reports on Investment Properties for Bankers
and Investors.
Examinations in regard to physical condition and
character, earnings, management, needs, value, etc.
R a i l r o a d L o c a t io n an d C o n stru ctio n .
M. T. Ma in e .
120 BROADW AY,
B. f . Evans , Special.
Geo. Copeland & C o.,
COTTON B R O K E R S ,
1 3 9 Pearl Street,
>
New Y ork .
Cotton landed at mills from Southern markets a
specialty. Orders for future delivery ^contracts
*xedited on New York Cotton Exchange.
CO TTO N
AND
C R AIN
-
•
NEW YOR K
W M . F R A N K LIN H A L L
BOOKS
ACCOUNTANT AU D ITED
New forms designed for books of account.
Settlement of Insolvent Estates.
418 Exchange Building, 63 State Street, Boston
FOR FUTURE DELIVERY.
Jos. C. Platt, C. E .,
Frederick Paxson & Co.,
CONSULTING E N G IN E E R ,
STOCK B R O K E R S,
DREXBL BUILDING, P H I ..A n U T .P H IA .
Private wires to New York Stock and Cotton
Exchanges and Chicago Board o f Trade.
3 5 W a l l Street, New Y ork,
A nd^W aterford. N. Y .
Exam inations.
Reports
Supervision.
S T . L O U IS .
Capital, - 8 5 0 0 ,0 0 0 1Surplus, - 8 3 2 5 ,0 0 0
WALKER HILL, President,
ALVAH MANSUR, Vice-President,
L. A. BATTAILE, Cashier,
W. L. RICKER, Ass’t. Cashier
Best Organized Collection Department in Mo.
UNITED STATES
BONDS
B o u g h t an d S old by
Cahoone & Wescott,
Members New York Stock Exchange,
18 W A L L S T R E E T ,
NEW YORK
Fifth Avenue Hotel,
M a d is o n S q u a r e , N e w Y o r k .
The largest, best appointed and most liberally
managed hotel in the city, with the most central
and delightful location.
HITCHCOCK DARLING & CO
Atwood Violett & C o., Arch’d. J . C. Anderson,
Geo. H. McFadden & Bro.
W m . Ba y .
American Exchange Bank,
P U B L IC ACC O U N TA N T,
1 2 7 W a t e r S tr e e t.
NEW Y O R K
Edward E . Higgins,
Expert in Street Railway Values and
Economies.
H a v e m e y e r B u i l d i n g , C o r tla n d t S t .,
NEW YORK.
CHAS. M. ROLKER, E. M.
Mining Engineer and Metallurgist,
2 0 NASSAU S T R E E T ,
-
NEW Y O R K
In s p e c ts an d r e p o r t s on m in es, m ills and
tre a tm e n t o i o r e s .
Refers, with permission t o :
M e ssrs. J . & W . S E L IG M A N & C O ., N .Y .
H o n . A B R A M S . H E W I T T , N. Y .
A . E I L E R S , P r e s ’ t. C o l. S m eltin g C o.
P u e b lo , C ol.
T H E B R I T I S H S O U T H A F R I C A CO.,
19 St. Swithins Lane, London, E. C.
B A R O N E M IL E B . D ’ E R L A N G E R ,
43 Lothbury, London, E. C.
A L F R E D B E IT , E sa.,
Of MESSRS. WERNHER, BEIT & CO„
29 & 80 Holborn Viaduct, London, E. 0
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