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JT'
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ommcrtw
HUNT’S
MERCHANTS’
%
MAGAZINE,
IMwsSpKjU*,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL
INTERESTS OP THE UNITED STATES.
[Entered, according to act of Congress, In the
VOL. 33.
fear
1881, by Wm. B. Dana & Co., in the effice
of the Librarian of
Congress, Washington, D. C.)
SATURDAY, SEPTEMBER 17, 1881.
CONTENTS.
CHRONICLE.
The Financial Situation....... 291 Monetary
and
Commercial
English Spinners and the
English News
295
;
“Corner” in Cotton
293 Commercial and Miscellaneous
Minnesota and Her Bonds.... 294
News
297
Extradition for
295
THE
BANKERS GAZETTE.
Money Market, Foreign Ex¬
Quotations of Stocks and Bonds 300
change, U.S. Securities, State
Railroad Earnings and Bank
and Railroad
Bonds
and
8tocks
Returns..
298
Investments, and 8tate, City
301
Range in Prices at tlie N. Y.
and Corporation Finances... 302
Stock Exchange
299
THE COMMERCIAL TIMES.
Commercial Epitome
306 I Breadstufts
312
Cotton
306
I Dry
847.
his
THE
Forgery
NO
Goods
313
balances, and in this way deprive the market of a cor¬
responding amount of loanable funds. To be sure, his ac¬
tion in anticipating
the payment of the registered 5s not ex¬
tended, maturing October 1, does not lend support to any
such theory ; yet it is
indisputable that there is much uncer¬
tainty and some anxiety as to what the Secretary will do,
and this
uncertainty is not without its effect on business.
When the
he would
demption out
were
no
Secretary announced
months ago
that
registered fives for re¬
of the surplus funds in the Treasury,
many
reserve
some
75 millions of the
doubt led to believe that
we
would witness
a
Cltrouiclc.
period of unexampled ease in the money market in the
summer and
The Commercial and Financial Chronicle is issued
fall, and were thus induced to defer making
every Satur¬
day morning, with the latest news up to midnight of
engagements for money until later on—engagements that
Friday.
[Entered at the Post Office at New York, N. Y., as second-class they would not have deferred
making had they known
mail matter.]
that instead of 75 millions less than 30 millions
would
be
TERMS OF
SUBSCRIPTiON-PAYABLE
For One Year
(including postage)
For Six Months
do
Annual subscription in London
Sixmos.
do
Subscriptions will
do
be continued
IN ADVANCE:
$10 20.
(including postage)
do
6 10.
£2 7s.
1
until ordered
8s.
stopped by
a written
The Publishers cannot be responsible
by Drafts or Post-Offiee Money Orders.
order, or at the publication office.
for Remittances unless made
Advertisements.
Transient advertisements
are published at 25
insertion, but when definite orders are given for
cents per line for each
five, or more, insertions,
liberal discount is made.
Special Notices in Banking and Financial
oolumn 60 cents per line,
each insertion.
London and
The office of the Chronicle in Liverpool Offices.
London is at No. 74 Old Broad
and in Liverpool, at No. 5
Street,
Brown’s
where subscriptions and
advertisements will be taken at the Buildings,
regular rates, and single copies of
the paper
a
supplied at Is. each.
WILLIAM B. danX, ?
WILLIAM B. DANA & 00.,
JOHN Q. FLOYD, JR.
I.S
79 8c 81 William
Street,
Publishers,
NEW YORK
Post Office Box 4592.
paid. Again, when the stringency was developed in
August, many borrowers who might have put off for the
time being the seeking of loans,
having no knowledge that
the Secretary would come to the relief of the
market, ac¬
cepted the situation and paid for the use of money at the
high rates then current. What is needed is that the Sec¬
retary shall definitely lay down a plan of action to be
followed by him in the future and
publicly announce the
fact.
As to what that plan shall
be, he must be the
judge; but it should provide as nearly as possible for
equalizing receipts and disbursements, and, once deter¬
mined upon, should be adhered to.
It is not the business
of
I3F* A
neat file cover is
18 cents. Volumes boundfurnished at 50 cents; postage on the same is
for subscribers at $1 00. A
the Commercial and
complete set of
Financial Chronicle—July, 1665, to datecan he obtained
at the
office.
the
Secretary to assist operators for
a rise in stock
Nor is it his business to
encourage operators for a
full. But it is bis bounden
duty to so conduct the opera¬
tions of the Treasury as to entail a minimum of
risk and
values.
THE FINANCIAL SITUATION
uncertainty upon business interests. The probable action of the
Secretary of the Treasury in
As bearing upon the question of the amount of
the matter of
money
devising some means for a return to the now held by the Treasury, compared to other
periods, the
market of the
large sums of money which the Treasury monthly Treasury balance sheets afford an
absorbs daily in the
interesting
shape of customs and other receipts, study. And upon this point there
appears
to be some
in excess of its
ordinary expenses, is still a topic of dis¬ confusion in the public mind. .
Many writers upon the
cussion in financial circles.
It was reported
early in subject use as their guide the amount of cash reported as
the week that the
Secretary would issue a call for 30 remaining after striking a balance between current assets
millions of the extended
sixes, but this was subsequently and liabilities. But this item, while it shows the balance
denied.
Parties usually well informed
insist, however,
that such a call will
be made
The interest of business
sooner or
men
so
much upon the
money now
later.
in this matter centres not
held in the Treasury vaults,
large, is being steadily dimin¬
ished, as upon the money to be withdrawn
from the
market in the
immediate future, at a time of the
year
when business is
always active and the demand for accom¬
modation more
urgent than at other periods. It is of
because this,
though
course within the
power of the
Secretary to keep adding to
actually available, does not correctly indicate the amount
of money held.
There may be, and is, at times a larger
sum to be
paid for interest due or bonds matured than at
other times.
This being a current
liability, allowance is
made for it before arriving at the
balance, and of course
diminishes that balance. But so long as the interest or the
bonds are unpaid, the cash against them remains in
the
Treasury and out of the market^ and therefore this balance
will not answer our purpose
of showing the Treasury
holdings. There are other items which also tend to make
292
-
THE CHRONICLE.
ivol. xxxiii.
it, and that it is
impossible to
comparison of these balances useless, We have accordingly had prepared the following table, which gives the say wThen that gentleman will cease fighting windmills.
amount of money of all kinds held by the Treasury and Nothing advantageous to the Vanderbilt or any other system
of roads appears to have been accomplished thus far during
the deductions that have to be made on account of gold
the three months of war.
Freight^and passengers have
and silver certificates, redemption funds, &c.
been transported at figures unprecedentedly low, and
Jan.
1,
.Vor.
Sept.
’81.
2,
’81.
1, ’80.
Amount Held.
Sept. 1, ’80
shippers and travelers have had reason to feel satisfied.
$
$
$
If dividends can be paid out of the last three months’
$
■Gold coin and bullion 127,C,79,27ft 140,725,953 156,742,095 169,495,521
Silv. coin and bullion 79.028.29H 77,757,316 79,142,799 95,724,012
business, those who are clamoring for cheap transportation
3,800
130,500
6,800
36,800
Gold cert ficates
9,454,419 11,516,432 will have a pretty convincing argument that rates for
7,333,719
5,518,821
Silver certificates
31,649,849 22,418,993 15,741,818 29,320,869
TJ. S. notes
4,273,540 freight and passengers have hitherto been much too high.
4,242,828
4,197,224
4,335,906
Bank notes
24,311
72.667
53,665
54,981
Fractional currency.
A feeling that
Mr. Vanderbilt does not intend to
Total amount lield 248,303,929 252,512,672 265,508,124 310,358,485
furnish the basis for such an argument, and that he will
Less—
reduce dividends on at least one of his roads, has contrib¬
35,351,984 36.238,105 36,707,260 47,486,555
Redemption funds
derbilt chooses to terminate
a
-
...
..
Gold certificates..
Silver certificates
Certitic’tes of deposit
..
...
7,697,900
13,138.040
11,310,000
7,454,500
27,113,960
8,775,000
5,400,920
6,658,880
45,582,130 .57,578,310
9,625,000
7,008,000
uted to the weakness of some of
his stocks within the past
few d ays.
67,497,924 79,581,565 95,956,270 120,090,785
180,806,005 172,931,107 169.551,854 [190.267,700
Money has been comparatively easy during the week, at
time ruling above 6 per cent on call.
Reports from
This statement shows that after making allowance for the
principal Western cities show that there is a demand
•certificates, against which there is held an equal amount at those points from the interior which is drawing heavily
of gold, silver, or legal tenders, as the case may be, and
upon the deposits, and that there is active employment for
Total
Leaving
no
redemption funds, chiefly to redeem national all the money that can be obtained. This condition of
bank notes, there remained in the Treasury on September affairs at the West naturally creates a demand upon this
1, 1881, $9,461,695 more than on Sept. 1, 1880, $ 17.83G,- centre for whatever balances remain here to the credit of
593 more than on November 1, 1880, and $20,715,846 Western
banks, and hence the drain as shown below in
more than on January 2, 1881.
In other words, as com¬ our statement of the shipments by leading banks, is
pared with the beginning of the year, had the Treasury smaller than was expected.
field no more on September 1 than then, business circles
There have been no announcements of the withdrawal
would have had for active use almost 21 millions more. of gold from the Bank of England, for America, since
It should be stated, however, that it is not likely that the 2d inst.,
but private advices have been received of
another month will exhibit the same amount of difference, the
purchase, in the open market, of some comparatively
for though receipts continue heavy—much above expenses small amounts for transmission hither.
The difficulty
—the Treasury is now paying without rebate the 30 mil¬ that is
experienced by bankers in obtaining coin or bars
lions of registered fives, and is also paying out further desirable for
shipment, induces them to be cautious, and
large sums on account of the 10 millions of coupon fives, consequently those who are shipping are not free to pro¬
and on account of pensions, &c.
claim the fact.
It is supposed that $350,000 left London
flhe Wall street markets have been active and generally on Thursdav, for America.
The. arrivals since our last
strong during the week. The corner in Hannibal & St. have been $3,075,918, and allowing for the amount above
Joseph common, and the sharp advance in Ohio & Missis¬ reported as supposed to have been shipped, there would
sippi last week, alarmed many of the speculators who were remain the sum of $4,895,808, now estimated to be in
short of the market, and they hurriedly covered their con- « transit.
tracts, with the result of rapidly advancing those special¬
The Treasury operations for the week include the
ties that were most largely over-sold.
The closing out of receipt of $2,000,000 gold from Philadelphia, $1,000,000
these contracts naturally deprived the market of much of silver certificates from Washington, and $200,000 gold
its strength, and manipulation was subsequently resorted from San Francisco, making $3,200,000 from sources out¬
to for the purpose of making a market upon which to side the banks.
Allowing for this, there is a net loss,
This movement was discovered on which is a gain to the banks, of $4,181,502 85. The
unload more stock.
Wednesday afternoon, when the speculators for a fall Assay Office paid out for domestic and foreign bullion
vigorously attacked the market, and wrere on this day and $5,216,317, including about $5,150,000 for gold which
On Thursday more or less successful.
The report, referred was received from Europe. The following were the daily
to above, that the Secretary of the Treasury intended
receipts by the Treasury from the Custom House.
calling in for redemption several millions of the extended
Consisting of—
bonds, also had some influence upon stock speculation early
Duties. ‘
Late.
Silver
Silver
TJ. S.
Gold.
in the week, and gave an upward tendency to values.
Dollars. Certificates.
Notes.
The Hannibal & St. Joseph corner is now occupying the
$480,000
$359,000 $22,000
$870,930 23
Sept. 9
656,000
31,000
$1,000
274,000
10....
attention of the courts. Suits have been brought to com¬
961,333 29
503,000
232,000
25,000
12....
760,667 20
pel the company to convert the 8 per cent 15 year con¬
409,000
1,000
21,000
265,000
13....
694,693 28
347,000
1,000
vertible bonds into common stock; to require the pool to
13,000
233,000
14
593,847 10
452,000
1,000
167,000
12,000
15....
631,417 79
receive preferred for common stock and to restrain the
Total... $4,512,893 89 $1,530,000 $124,000 $4,000 $2,856,000
pool from executing the corner. No decision has yet
been reached in either case.
The advance in the stock on
The following showrs the Sub-Treasury movement for
Thursday to 300 per cent would indicate a purpose on the the week ended September 15 ; also the receipts and ship¬
part of the pool to make the price sufficiently high to ments of gold and currency reported by the principal
leave a good margin for a fall in case a proposition for banks.
for the
•
...
•
„
it
<«
.
ii
-
ii
...
it
settlement should be made.
The railroad
war
appears
Into Banks.
regarded as an
Speculators seem to con¬
to be no longer
important factor in the market.
sider that it has done about all the
damage that may be
-expected, that the war will be ended whenever Mr. Van¬
Sub-Treasury operations, net...
Interior movement
Total
*LOSS.
Cut of Banks
Net.
$4,181,502
$4,181,502
$!...........
750.000
898,000
*148,000
$4,931,502
$898,000
$4,033,602
THE CHRONICLE.
1881.]
1
—
The interior movement as above embraces all the
spot had been advanced
re¬
ceipts and shipments of gold and currency reported to us
by the leading banks for the week ended September 15,
which (stated in our usual form) are as follows.
Receipts at and Shipments from X. T.
Received.
$722,000
Currency
29,00£)
Total
$750,000
-
The Bank of America received
$1,600,000
298
~
1
September 17,
to 7
5-16d., against 6 3-1 fid. on
advance of l£d., while September
the 1st of
July last,
contracts
sold at 7 ll-32d. and 6
an
9-32d.
ive dates
given.
relishing this condition
Not
on
the respect¬
of things, measures have
been taken within the
past week by the English manufac¬
$233,000
turers of cotton to resist the exactions
6G5,000
demanded of them,
by
lessening their wants during the existence of the pres¬
$893,000
sure.
While middling upland
gold from
brought 7 ll-32d. for Sep¬
tember, it sold at 6 23-32d. for October and 6 19-32d. for
Shipped.
associated banks for deposit in vault.
The Bank of England return for the week shows a de¬ November, and the difference is a
galling one. It is a
crease of £146,000 bullion, but the
proportion of reserve repetition of our “corner” of last month when August
to liabilities is increased f per cent.
The Bank of France contracts sold at 14c., while September sold at
ll^c.^
exhibits a gain of 375,000 francs gold and a loss of a difference even greater than has obtained in the
4,575,000 francs silver. The Bank of Germany, since our English market. The English cotton manufacturers, to
last report, has lost 6,820,000 marks.
The following overcome the difficulties which threaten them for the
shows the
amount
of
bullion
European banks this week, and
remainder of the current month,
propose to stop nearly all
the spindles for one or two weeks.
The latest reports
say
there is little doubt that the
movement to
in each of the
at
last year.
principal
the corresponding date
temporarily
restrict
consumption in this way, will be carried out.
Sept. 16, 1880.
It seems probable that such a
movement, if carried outGold.
Silver.
Gold.
Silver.
with any degree of
unanimity, will prove effective against
£
£
the most oppressives features of the
£
£
“corner” on
Bank of England
Sep¬
23,044,361
28,327,485
tember contracts.
Bank of France
24,491,032 50,349,610 29,256,160
Indeed,
the
simple
suggestion
of
50,307,3*0
Bank of Germany
9,051,220 18,877,620 8,790,666 17,593,334 “short time” had a marked
influence, for on the 15th
Total tliis week
56,586,613 69,227,230 66,380,311 07,900,694 the price of
middling uplands had declined on the spot
Total previous week
56,801,475 69,665,930 66,705,096 67,680,206
and for September to 7
3-16d., though the later months
The foreign exchange market remains
quiet. There is made a nearly equal decline, under the weakening of the
a temporary
scarcity of bills, and this caused an advance whole position.
in rates yesterday
to 4 81-£ and 4 85 for long and short ster¬
The dilemma in which the
speculators for the decline at
ling respectively. The supply will doubtless soon be
Liverpool
and
the
aug¬
English manufacturers have found
Sept. 15,1881.
mented from cotton bills.
At the moment
very little is
either way. The following exhibits the
themselves, is
doing in securities
margin of profit for cable transactions, showing relative
prices of 'leading bonds and stocks in London and New
York at the
opening each day.
and
of which ordinary mercantile
foresight
business prudence should, it would
seem, have fore¬
warned
them
one
and
enabled to avoid.
They saw that the
1880-81, though very large,
was deficient in condition and
quality ; yet they continued
to put out contracts for
it, with tbe “low middling clause ”
Sept. 12.
Sept. 13.
Sept. 14.
Sept. 15.
Sept. 10.
embraced therein.
Under this clause
nothing under low
Lond'n N.Y. Lond'n N.Y. Lond'n N.Y. Lond'n
N.Y. Lond'n N.Y.
prices* prices. prices.* prices. prices.* prices. prices.* prices.
middling
can
be
delivered
on a Liverpool
prices.* prices.
contract, and
U.8.4s,c. 115-79 116* 115 79 110* 115-79
this grade is above the
11694 11579 117 * 110-2U 117*
average
quality
of
the
last crop.
U.8.3*s 101-S3 101* l6l-83 101* 101-83 101* 101-83
101* 101-92
We
have
101*
Erie
43-80
43 *
consequently seen our markets ransacked for the
48-00
43 H
4384
43-84
43*
43* 43-89
43*
2d con. 102*22
101* 102-22 101H 10222 102
better
10C98 102
102-C9
grades of cotton to hurry forward to Liverpool for
101*
Ill. Cent. 129-11
129* 129*00 130
13105 ISO* 13202 130* 13V07
131
N. Y. C.. 143-89
14413
U3*
143* 144-02 144* 142 92* 144* 142-83* 14154* delivery on contracts there, while strict ordinary,
good
Beading 32-40+ 03« 3197+ 61* 32 09*
04* 31W 04
32-0H
64* ordinary, and strict good ordinary, which
may be delivered
Exch’ge,
on contracts
cables.
and
embrace
here,
serviceable
4'84*
grades of cot¬
4*84*
4-84*
4-84*
4*85
Expressed in their New York equivalent.
ton,
were
quite
neglected.
Then,
again,
{Beading
on basis of $50, par value.
English manufac¬
* Ex-dtvidend.
turers witnessed, with an
apathy
not
Note.—The New York equivalent is based
readily explained, the
upon the highest rate for
cable transfers, which
diversion of a good part of the increased
covers nearly all charges, such as
ordinarily
yield of the sea¬
Interest, insurance and commissions.
son
just closed, to other markets. The increase of the
It should he
noted, in connection with the above table,
yield in bales was nearly 14£ per cent.; the increase in
that the cable has
daily reported United States bonds un¬ the
exports to all countries was nearly 19 per cent.; and
changed, and there was apparently no movement in the
4s in
London, in response to higher prices in this market, yet the exports to Great Britain were increased only 11 l-$
per cent.
Thus the promoters of the “corner” had in
on
Wednesday and Thursday. This advance in these their
favor, not only the greatly increased consumption of
bonds is explained
by the report of a demand for a round
cotton
in Great Britain, and the smaller
lot of about
supplies under her
$1,000,000 for investment. As the market
was
control,
but
the
poorer
quality of the crop, and the possi¬
quite bare of them, the effort to buy
naturally sharply ble dangers to
which the growing crop was exposed—a.
advanced the price.
crop
of American
cotton for
*
-
ENGLISH SPINNERS
combination which has proved effective in the face of
larger visible supply, an increased acreage planted
cotton, and the certainty that injury to the plant byCOTTON
Through the effect of a pressure upon deliveries of drought is always much exaggerated. The course of
ootton at
Liverpool on. September contracts, there has affairs received vigorous criticism in Ellison’s Circular
been an important advance in
for August, and we cannot do better than to
prices, which has been felt
re-produce a
with much
severity by parties having such contracts out, part of it here.
and by the
The advance which has taken
English manufacturers of cotton who were
place in prices, is the natural
and inevitable outcome of the undue and
under the
unwarrantable de¬
necessity of buying in the open market in pression which culminated in
last.
known facts of
May
The
order to
keep their mills agoing. On the 12th inst. the the present season were driven out of sight by
exaggerated
estimates of supply for next
price of
season, and oy “bear” sales at
middling uplands in the Liverpool market on the low
prices of a
AND THE “ CORNER” IN
a
to
“
crop
only just planted ! The market
was
flooded
with a fictitious supply, which for the time being had as much
influence as if it had been real; and the supply of cotton actu¬
ally on hand was ruled by the supposed value of cotton which
might
or might not exist in the remote future ! Once more
“
bearing 99 the market was regarded as a royal and sure road
to fortune. Excessive selling caused an artificial depression in
prices, and every fall begat a further decline. Only one result
could follow, and it has followed. Meanwhile, there is plenty
of cotton for spinners, if they will only betake themselves to
the lower grades of American and to the relatively cheaper
produce of Egypt and India.”
Among the evils that have followed the higher prices
the market by the speculative “corner,” is
speculation which has been fostered in the
coming crop, on the reports of damage by drought, and
Parties who
consequent estimates of a reduced yield.
knew nothing of the leading facts affecting the value of
cotton, the nature of the plant, &c., hearing of the rise,
have entered the market as operators for an advance on
prognostications of a largely deficient crop. Thus the
season opens at a high range of values for the winter and
spring months, and the anomaly has been presented in the
past week of October contracts selling lower than for any
other month, although they sold quite recently as high as
January. A reaction would prove very inconvenient to
commission houses, and might lead to complications in
forced upon
the general
other branches of the trade.
The losses and inconveniences which have been caused
last
spring, when the final proposition of Mr. Chamberaccepted by the Legislature and an act was passed
creating a tribunal specially to decide upon the amend¬
lain
was
ment of I860.
valid, the bill
therewith; in
In
case
that amendment
was
pronounced
to go before the people, in compliance
case the amendment was pronounced void,
the bill was to take effect, and by it the debt and interest
were to be settled at fifty cents on
the dollar, in new 10-30
year 5 per cents.
Considerable delay and difficulty ensued
from
was
the
unwillingness of the judges in the State to
accept this Trojan-horse commission, and it seemed possible,
for a time, that the plan would practically fail thereby.
The State Supreme Court has now decided that the
amendment of 1860 is void, because repugnant to the pro¬
vision of the Federal Constitution which forbids
a
State to
law impairing the obligation of contracts. Hence,
by the terms of the law of March 2 last, the compromise
proposition is already binding, and accepted on part of the
State; but the court goes further, and declares that act also
invalid, because it delegates legislative powers to the
tribunal created by it.
This legislative power consisted in
this: the tribunal, by pronouncing the amendment void,
was to cause the act to take immediate
effect; or, by
pronouncing the amendment valid, was to cause the act to
be referred to the people for ratification.
But how, the question may arise, has this
repudiating
and debarring amendment stood for twenty years without
ever having its fatal defect discovered ?
The answer is
easy.
The defect has long been apparent, but as every
attempt hitherto to act on the subject has taken the form
of a proposition to be submitted to the people, in accord¬
ance with the amendment, and as
every such proposition
pass any
by, and may yet arise from, the “bull” movement in cot¬
ton, which has been in progress since the first week in
July, will not be wholly lost if they be not too soon for¬
gotten. The lesson is obvious. When an article is not
dear, and you want it, think twice before you refuse to
buy; by holding off on the improbable contingency that
you may get it a little lower, you place yourself at the
mercy of any untoward circumstance, and the chances are has been
rejected, no case on the amendment has ever been
that your cupidity will be turned against you.
It is to be raised; and as judges do not pronounce opinions out of
hoped, therefore, that the “corner” on cotton for August court, no judicial expression has been given about it. But
and September, 1881, may be held in remembrance, and
this latest plan having gone before the courts first, the
its lesson of moderation guard against its repetition.
decision has been reached.
The
MINNESOTA AND HER BONDS.
The decision of the State
Supreme Court of Minnesota,
just made, as to the case of the old bonds which have so
long been her financial “skeleton in the closet,” puts a new
and unexpected face upon the matter.
These bonds, as
will be remembered, were railroad aid, and came into
being by virtue of a special amendment attached by the
nearly unanimous ratifying vote of 25,576 to 733, to the
.original constitution, which had been adopted only the
year previous, and prohibited all lending of State credit.
In .1860, only two years after issue of the bonds,, foreclos¬
ure was applied to the roads and the State took possession
of the lands; in two years more, the property and fran¬
chises of the companies were declared forfeited and were
conferred upon other corporations since operating lines
over the same routes.
On the 6th of November, 1860,
the memorable constitutional amendment was adopted,
declaring that the authorizing amendment of 1858 “is
“hereby expunged from the constitution,” and prohibiting
any steps for payment without first submitting them to a
popular vote.
Repeated attempts have been made since to compromise
the bonds.
In March, 1877, a bill was almost unanimously
passed, providing for a settlement as proposed by Mr. Cham*
berlain, the principal holder, on the basis of $3,640,000 in
exchange for over $7,000,000; this bill was conditioned
upon the people’s consenting to devote /to payment the
proceeds of 500,000 acres of “internal improvement” lands
granted by Congress in 1841, which proposition failed to,
obtain popular
acceptance.
This outcome provoked
severe criticism at the time, but the matter rested until
practical result is to facilitate rather than hinder
settlement.
The amendment
was
never a
barrier to pay¬
ment, for although it gave an appearance of finality to the
repudiation, it was not an absolute prohibition, and hence
did not require to be itself abolished; it only provided
against an unexpected feeling of honesty on part of the
Legislature, by requiring ratification by the people of any
legislation on the subject. Whenever the people became
ready to settle, they could do so. They have never been
ready before, but now, by all appearances, they are. The
State is still protected against suit by the Federal Consti¬
tution; so the bondholders have no recourse given them by
the annulling of this old amendment, which was a most
palpable impairment of a contract made in pursuance of a
prior amendment granting authority to issue these very
bonds.
Mr. Chamberlain has renewed his
proposition, and of
the Legislature,
whole
without reference to the popular vote.
The bonds being
mostly already deposited in trust, Mr. Chamberlain
adheres to the old basis, although the bonds have largely
appreciated.
It is the impression of many people, however, that the
State will now disdain a compromise and will pay in full.
This would be a proof of repentance for the most foolish
and groundless act of public repudiation ever committed
—one which had neither the excuse of poverty nor that of
course
no
the
matter
consideration.
their roads
could not be
bound more
legally, than Minnesota bound herself to
True, the companies failed to complete
and make their payments;, but the contract
firmly, morally
these bonds.
A State
lies with
or
September 17, 1881.]
THE CHRONICLE.
their ability to fulfill it, and the chance of
inability was recognized and covered by a penalty which
the State swiftly proceeded to enforce.
The State took
the companies’ property, gave it away to new
companies,
and repudiated its own bonds, all in the face of the
pal¬
stood
on
295
general authority to write in the amounts. And in
doing
and
negotiating the check, there was no making of a
spurious instrument; the check was a
genuine one ; it is
only the misuse of it of which his
employers can com¬
plain.
so
pable fact that its title to the property arose solely from its
The same question
may arise under even more embar¬
liability on the bonds, and that if it suffered no loss it rassing conditions
whenever a culprit like Wheelock
seeks
could acquire no indemnity.
It seized the security and refuge in a
country
less
progressive
than
Great
Britain, or
avoided the debt.
It gave to a corporation its own bonds where
the treaty has been
negotiated in two languages.
for marketing, taking as security a
mortgage on the cor¬ The development in this
country of business methods
poration’s property; then seized that property, disposed of which have
third party, and told the holders of its bonds
whistle for their money.
it to
a
imperatively required
to
Reparation after twenty years is tardy, but better than
never, and its wisdom would be that which
honesty always
But the settlement
is.
not be
pleaded.
ought to be in full.
The debt is
as
valid
as
it
Poverty
ever
can¬
was, and
valid for the last cent in the dollar as for
the first.
The harm and shame of a partial settlement
ought not to
be fastened upon the State.
The creditors will not refuse
to accept all their due, and Minnesota should
come
it is
as
the instruments in
use,
conduct punishable as
former
times, has
mercial countries.
can
as
increased protection to
by making various kinds of mis¬
forgery which were not so in
not been witnessed
not
place any dependence
enabling them to procure
escape abroad.
reclaimed
equally in all
Hence it is evident that
our
com¬
merchants
upon American enactments
a return of offenders who
One who escapes
France
to
only if the charge against him
can
be
amounts to for¬
by the law of France ; from Austria only for what is
squarely forgery by the law of Austria ; from Prussia
only for
up to the opportunity to purge herself of this shame and what is
forgery by the law of Prussia, and so on. There
set herself right on the record before the
world.
would be great
advantage, therefore, in a general agree¬
ment or convention
among the commercial nations defin¬
EXTRADITION FOR FORGERY.
ing alike for all countries the crimes
affecting commercial
interests which are mentioned
The proceedings had in London to secure
the return of
by their names in the
gery
Wheelock, the confidential clerk who absconded after extradition treaties.
filling blank checks which had been entrusted to him
duly
signed, and misappropriated the proceeds, will draw Bnauclartjs ©ommcrctaX guglislt
|Tctos
attention to what may
be considered a defect or difficulty RATES' OF
EXCHANGE AT LONDON AND ON
in the law
LONDON
governing extradition for forgery. The major¬
AT LATEST DATES.
ity of our extradition treaties with foreign countries EXCHANGE AT
LONDON-Sept. 3.
EXCHANGE ON LONDON.
specify forgery as one of the crimes for which
fugitives
Latest
On—
Time.
Rate.
Time.
Rate.
Date.
may be sent back ; but they simplyr
employ the word, with
Amsterdam
3 mos. 12*5
little or no explanation of what is
Sent. 3 Short.
12*15
meant; that is left to Amsterdam Short. 12-2in -312-5^
@12-313
3
12*15
the general
Rotterdam.. 3 mos. 12-5
® 12-513
jSept.
understanding of the word in criminal law. Antwerp
25-57is®25'65
JSept. 3 Short.
25*36
Thus the treaty with Great Britain
Brussels
25-57133 25*65
simply mentions, in Berlin, <fcc...
20*74 @2076
3
Short.
20 50
the list of
|Sept.
18*45 '318*48
crimes, forgery or the utterance of forged Copenhagen.
Stockholm
18-45 @11-48
paper. And it is a general
18-45 @18*48
principal in extradition cases Christiania..
St.Peters’bg.
25x4 @25i8
Sept. 3 Short.
that the nature of the crime
Paris
Short. 25*27in@25*35
and the
Sept. 3
25-30
quantity of evidence Paris
3 mos. 25*52 !3@2©*G2i3
Sept. 3
needful to prove it must be
25-30
Vienna
11*95
determined by the law of the
@12*00
Sept. 3
11760
Trieste......
11*95 @12*00
country where the prisoner is and which is asked to Madrid
4714 @47
Leghorn
25*95 @26*05
surrender him—not
25*95 @26*05
by that of the government from which Genoa
Sept. 3 3 mos.
2545
25*95 @26*05
Naples,
he has fled.
In other
words, a criminal can not be Lisbon
523j6@52li«
Oporto
reclaimed from
52316@521iC
English soil on the charge of forgery, Hamburg
Sept. 3 Short.
20-50
Frankfort...
unless his act amounts to
Sept. 3
20.50
forgery by English law and the Bombay....
Sept. 3 4 mos.
Is. 8i0d.
.
ii
.
.
....
1%
..
....
....
44
...
a
a
....
....
■*«.-«
...
....
44
«...
....
proof would be sufficient
forgery in
to
warrant
a
conviction of
English court.
original idea of forgery made, the offence
consist in the simulation of a
signature or instrument.
Unless the accused imitated a
signature, or otherwise
an
Now the
made
Calcutta....
Hong Kong..
Shanghai....
....
....
......
....
| From
our own
Sept.
Sept.
3
3
Sept.
0
4 4
ii
u
Is. 8iiod.
3s. 9d.
5s. l78i.
correspondent.]
London, Saturday, Sept. 3, 1881.
The Bank of England return is more
unfavorable than had
been expected, bnt the directors have not
thought it necessary
to advance further their rates of
discount; the
false instrument in the
guise and appearance of a
published
genuine one, there was not a
forgery; though there might quotation remains, therefore, at 4 per cent. The reserve of the
be embezzlement or a
criminal fraud or cheat.
The Bank has now fallen to £12,579,066, and its proportion to the
necessity of more completely protecting commercial and liabilities of the establishment is 39*76 percent. The position
of affairs is,
business instruments has led in this
consequently, one of some anxiety, and in some
country
a consider¬
to
able
quarters a further rise in the Bank rate is anticipated.
enlargement of the definition. In New York, partic. are of the
Many
that
opinion
an advance should have been made this
ularly, the law of the subject has become
quite complex; week, but as there has not been much movement in gold for
four degrees of
forgery have been created, and about a shipment to the United States, while the Italian demand is
score of
long sections in the statute book are occupied expected co be met on the Continent, the directors have
with
saying what shall amount to the offence. But aside thought it fit to wait a few days. An advance can be estab¬
from some such
lished at any moment, and as trade is
by no means active, the
enlargement of the crime by statute, it Bank directors
are acting
does not embrace
rightly in lightening the burdens of
what Wheelock is
charged with doing. merchants as much as possible, so long as they can do so with¬
There was no imitation
by him of his employers’ signature out injuring themselves. The state of trade does not
to the
justify
check. One of the firm
signed the checks drawn in the present rates for money, and consequently the present
blank, and they, thus signed, were entrusted to Wheelock condition of the money market operates with some harshness
with power to fill
upon merchants; but tliere is no remedy, as resort must be had
in the sums for which
they might be to the usual methods for
required, and to use them in the firm’s business. He had
keeping on hand an adequate supply
of gold. The opinion is
expressed that before very long there
a
will be considerable disturbance in the money market, owing to
course of gold ; but the measures adopted to check, if pos¬
sols, the average quotation for English wheat, the price of
middling upland cotton, of No. 40 mule twist, fair second
sible, any undue movement, have been quickly and judiciously quality, and the Bankers’ Clearing House return, compared
put into practice, one result of which should be that speculators with the three previous years.
1879.
1831.
1830.
and others who exert power over the market may be early
&
Circulation, excluding
£
£
warned to act with caution. The state of the money market
bank post bills
26,688,000 27,285,875 28,965,520 27,309,235
Public
4,613.236
3,436,435
5,752,007 7,028.053
lias already been reflected on the principal Stock Exchanges of Other deposits
deposits
26.241,242 24,873,578 30,673,722 20.986,504
the world, the prices of most classes of securities having mater¬ Governm’t securities. 14,663,649 16,353,836 15,530,087 13,440,540
Other securities
22,660,904 18,063,336 17,612,317 19,242,452
ially declined of late. The tone, at the present time, is one of Res’ve of uotes & coin. 12,579,066 16,035,424 20,701,564 10,031,037
much uncertainty. Should a further fall in values take place, Coin and bullion in
both departments.. 33,517,261 23,321,299 34,058,034 22,610,272
this will necessarily diminish the amount of capital required to Proportion of reserve
to liabilities
39*76
hold stocks, and to that extent the world’s money markets will Bank rate
2 p; c.
4 p. c.
5 p. c.
2*2 p. c.
97 7s
94 4d.
937s
975a
be relieved. International operations in securities will, in con¬ Consols
48s. Id.
45s. 8d.
Eng. wheat, av. price.
51s. lOd.
44s. Id.
6i316d.
O^ied.
d^ied.
7d.
sequence of the prospect of dearer money, be not only dimin¬ Mid. Upland cotton...
9^d.
10^d.
Iiqd.
No. 40 Mule twist
934d.
ished in quantity, but also in value, as the facilities for opera t-. Clear’g-house return. 137,637,000 117,377,000 102,809,000 119,122,000
ing must of necessity be very much curtailed. Our payments
Tenders for £1,455,000 Treasury bills were received at the
to America for grain and cotton will certainly be very heavy,
Bank of England yesterday. The whole amount was allotted
and perhaps more in the season 1831-2 than in that which
in bills at three months date, and tenders at £99 Is. 3d. and
has been just brought to a close. I notice that at this period last
above will receive in full. This is equivalent to a discount rate
year red winter wheat was worth only §1 03 per bushel; the of
3% per cent.
price is now$i 44; and a similar improvement has taken place in
The gold market was quiet in the early part of the week,
this country as well as on the Continent. For the season just
but was subjected to some uncertainty, which has been justi¬
concluded, the average price of English wheat was 43s. 7d., and
fied, a sum of £282,000 having been taken out of the Bank of
the average for last week was 51s. 10d., showing a rise of 8s. 3d.
England yesterday, nearly the whole of which was for New
per quarter. The better sorts of wheat show a still greater
York. A small quantity has also been purchased in the open
improvement, the quotation for fine English white wheat being market. Silver has been in fair demand for India and the Con¬
62s., and for red 5Ss., per quarter. As our crop is being
tinent at 51%d. per ounce.
harvested in poor condition, and the quality has been much
On the Stock Exchange during the week much depression has
injured by the (as far as cereals are concerned) inopportune
prevailed, and prices are generally lower. The fall in the quo¬
rains, we shall require a good proportion of dry foreign wheat
tations has, in many cases, been important, especially amongst
from abroad in order to manufacture a useful quality of flour.
American and Canadian railway secuiities.
We shall have to pay, therefore, a correspondingly high price,
The weather has been unsettled during the week, but it
though medium and uniform sorts of wheat will very probably shows an
improvement over the previous week, and fair
be obtainable at lower figures than those now current. In any
progress has been made in cutting and carting grain. The
case, we shall require a large quantity of foreign wheat, for
which we will have to pay a higher price than in the previous produce, however, which has been exposed to the rain has been
much injured, and has in many places sprouted. There are
season.
The necessary purchases must exercise some influence
.now some indications of a favorable autumn, and a moderate
over the money market and tend to give firmness to it.
The supply of mercantile paper afloat is only moderate ; but portion of the crops is likely to be secured in fair condition.
The rains have been of much benefit to’the grasses and roots,
in consequence of anticipated bullion movements, which have
the latter of which will be fully adequate to our requirements.
not taken place, though it is regarded as probable that they
The pasture lands are rich with grass, and our short crop of
have only been deferred, the banks and discount houses have
been willing to take bills at a slight reduction only under the hay can therefore be largely reserved for winter consumption.
The grain trade during the week has been quieter, and diffi¬
Bank rate. Higher rates for money are certainly looked for¬
ward to both by lenders and borrowers, and a sudden upward culty has been experienced in obtaining former prices. The
The following statement
movement in the quotations would occasion no surprise. The supply of wheat afloat is increasing.
has been published by the Committee of the Annual Corn and
prospect of dearer money is operating upon business in various
Seed Fair at Vienna, purporting to give an estimate of the con¬
ways, which have already been referred to. But in addition to
dition of this year’s crops. An average crop is represented by
the check which it has given to the company-promotion busi¬
ness, that resuscitated division of British enterprise has lost
BarBarWheat. Rye. ley. Oats.
Wheat. Rue. leu. Oats.
caste in consequence of some unpleasant statements with regard Germany—
110 105
95
95
Podolia
100
85
87 100
Prussia
to a few undertakings, and of some orders which have been
Middle Rus100 100 100 100
Saxouy
120 120 115 115
sia
Franconia «&
made to wind up others. The public-company movement is
Southern do. 110 120 125 120
98
100 110 105
Suabia
80 100
68
Bessarabia.. 80 105
83
78
Palatinate... 73
undoubtedly exhausted, at least for a time, not only on account
75
SO
80
80 Roumania—
Baden
of the state of the money market, but also because the public
90
Little WallaWurtemb’g.. 95 100 100
62
47
59
42
93 100
90
cilia
Mecklinb’g.. 72
are beginning to apprehend that their confidence may have
60
60
60
Greater do. 60
87
80
85
75
Denmark
90
90
Moldavia.... 100 105
been misplaced. Although it is not likely that the money Sweden & Nor30
53
73
78
93 Servia
73
83
85
way
will
market
be materially influenced by further loans and pub¬ Austria
95
70
83
107 103 100
106 Switzerland.
90 100
84
85 Italy—
lic companies, it is probable that there will be, nevertheless, Hungary
75
70
North
100 100 100 100
Holland
90
Middle
quite sufficient demands upon it to give it firmness during the Russia— *
55
70
55
South
Esthonia.... 98 112 118 123
remainder of the current year. Subjoined are the present
85
40
78
78 France
Courland.... 73
80
110
Great Britain. 90
Other North
quotations for money:
100 110 110
the
.
_
m
.
Per cent.
4
Bank rate
Percent.
Open market rates—
Provinces.
•
.
.
..
.
.
«.
.
.
„
.
-
..
-
..
.
.
4 months’ bank bills
37s®4
6 months’ bank bills
4
4 & 6 months’ trade bills. 4 'a) 5 ^
During the week ended August 27 the sales of home-grown
produce in the 150 principal markets of England and Wales
amounted to 12,670 quarters, against '12,229 quarters last year,
The following are the rates of interest allowed by the joint- and 17,759 quarters in 1879 ; and it is computed that in the
stock banks and discount houses for deposits:
whole kingdom they were 50,680 quarters, against 49,000
Per cent.
Joint-stock banks
3
quarters and 71,000 quarters. It is estimated that the following
Discount houses at call
3
do
with 7orl4day8’ notice of withdrawal
3*4 quantities of wheat and flour were placed upon the British
The visible
The following are the rates for money current at the princi¬ markets during the first week of the season.
is also given:
supply
of
wheat
in
the
United
pal foreign centres :
Open-market rates—
30 and 60 days’ bills
3 months’ bills
*
Bank,
Open
Bank
rate.
market.
Pr. ct.
Pr. ct.
Pr. ct.
Paris
Brussels
Amsterdam
Berlin
Hamburg
Frankfort
Vienna
Madrid
37e
37s
rate.
4
4
3
5
5
4
5
5
4
4^
Copenhagen
4
5
Calcutta
3%
4i<?
Other
Spanish
cities
St. Petersburg...
Geneva
Genoa
Open
market
Pr. ct.
4
6
5
4*3
4
4
4
3^4
514
3i*
Annexed is a statement showing the present position of the
Bank of England, the Bank rate of discount, the price of con¬
1881.
Sales
of
1880.
1879.
1,535,033
121,728
872,407
89,783
219,620
212,000
307,820
579,020
1,522,030
2,059,789
1,984,531
1,511,180
31,414
16,362
35,872
53,056
1,490,636
2,043,427
1,918,709
1,487,124
51s. 101.
44s. Id.
48s. Id.
bush. 17,5)0,000
12,600,000
15,743,780
home-grown
produce
Total
Deduct
exports
wheat and flour
of
Result
Av’ge price of English
wheatfor season (qr.)
Visible supply of wheat
in the U. S-...
cl878.
1,671,588
176,201
Imports of wheat.cwt. 1,098,337
Imports of flour
204,123
45s.
8<1»
10,997,100
297
return shows the extent of the imports and
exports of cereal produce into and from the United Kingdom
during the first week of the season, compared with the cor¬
The following
EXPORTS FROM NEW YORK FOR THE WEEK.
1878.
Forth© week...
responding period in the three previous seasons.
1881.
1881.
1,098,337
52,832
161,141
6,825
jj&riej ••••••••
1879.
1878.
1,671.583 * 1,555,033
29,240
421,843
8,817
37,109
36.877
709,103
204,123
656,552
176,201
-
$7,799,540
239,036,754
39,950
168,297
19,093
36,005
550,594
872,407
136,092
160,518
53,373
90,281
1,008,871
121,728
89,753
1830.
$7,627,576
227,278,905
1881.
$8,718,379
280,872,100
$7,047,356
268,013,537
Total s’ce Jan. 1 $246,836,294
$234,906,481 $289,590,470
*275,090,893
Prev. reported..
IMPORTS.
1879.
The
following table shows the exports and imports of specie
port of New York for the week ending Sept. 10 and since
January 1, 1881:
at the
EXPORTS AND IMPORTS OF SPECIE AT NEW
YORK.
-
EXPORTS.
1881.
1880.
1879.
27,178
1878.
14,531
236
230
737
359
50,291
3,033
24,039
255
892
178
103
8,313
32,565
4,266
49,905
1,831
3,307
Flour
605
11
300
291
Week.
436
West Indies
Mexico
South America
All other countries
Total 1881
Total 1880
Total 1879
The daily closing quotations for securities, &c., at London,
and for breadstuffs and provisions at Liverpool, are reported
follows for the week ending Sept.
London.
Sat.
d.
Silver, per oz
5158
16:
Mon.
Tucs.
5111m
5in10 51Hi6
Thurs.
Consols for money
9H1o16 9S1%6 981516 99i16
99
Consols for account
98l516 99
99%
Fr’ch rentes (in Paris) fr. 85*75
85*50
85-45
35'42%
U. 8. 5s ext’u’d into 3%s 104%
104 %
104%
104%
U. S. 4%s of 1891
116%
116%
116%
116% •
U. S. 4s of 1907
119%
119%
120
119%
45
45
Erie, common stock
44%
45%
Illinois Central
133%
134
13314
135%
,
Pennsylvania
Philadelphia & Reading.
New York Central
6614
66%
067a
67
315s
143%
32%
148%
32%
33
149
Sat.
Mon.
Liverpool.
S-
Flour (ex.
St ate.. 100 lb.
Wheat, No. 1, wh.
“
Spring, No. 2...
“
Winter, West., n
“
(t.
14 9
11 0
10 6
10 11
Cal. white
“
10
8
5 Hie
Corn, mix., West.
“
Pork, West. mess.. $ bbl. 74 0
Bacon, long clear, cwt.. 17 0
Beef, pr. mess, new,$tc. 89 0
Lard, prime West. $ cwt. 61 0
Cheese. Am. choice, new 02 0
148%
lues.
s.
d.
s.
d.
14
11
10
9
14
9
0
6
10 11
10 8
5 11%
74 0
47 0
89 0
62 0
62 0
11
10
10
10
5
75
17
89
62
62
s.
Fri.
5U%e
85*50
104%
X81-90
101%
11634
116%
d.
8.
14
11
10
11
10
6
77
48
89
62
62
d.
9
1
7
0
9
0
0
0
0
6
0
8.
d.
14 9
11
1
10 6
11
0
10 9
5 11
77 0
49 0
89 0
62 0
62 0
(flpmmgyjcial aufllltlsccllatrcmts jilenrs,
National Banks.—The
ized Sept. 10,1881:
following national bank
2,561—Tlie Butler National
Bank of
organ¬
60,389
24,337
15,361
48,315
2,309
654,154
1,033,234
$2,109,042^
24,280
$213,000
$7,516,225
$65,985
3,616,310
123,498
157,996
77.700
10,312,982
—“Bigelow’s Handbook
of
Punctuation” is
128,307
19,257
3,796,371
6,047,552
neat little
but will be
gives, in addition to
simple rules for punctuation, concise chapters on “ capitals,”
“italics,” etc. The book is the compilation of Mr. M, T..
Bigelow (a proof-reader at the University Press for over
thirty years), and is published by Messrs. Lee & Shepard, Bos¬
ton, at the low price of fifty cents per
copy.
—We have received from Mr. James M.
Swank, Secretary of
the Iron and Steel Association, his annual
report, containing
statistics of the American iron trade to
January
1, 1881, and a
review of the present condition of the iron
industry
in foreign
countries. The work is carefully
prepared and gives an amount
of information regarding iron and its
products which is of
value not only to the trade but to all
parties interested in themanual designed for the use of
proof-readers,
found useful by others as well, as it
a
commercial statistics of the country.
Butler, Mo.
$50,0C0; paid-in capital, $30,000.
Wm. E. Walton, Cashier.
The
was
$193,630
20,005
1,500
127,625
20,050,690
Of the above imports for the week in
1881, $49,508. were
American gold coin and $17,085 American silver coin. Of the
exports for the same time, $1,500 were American silver coin.
xl47% 147%
14 9
1
11 1
7
10 7
11
10 11
9
10 9
11% 6 0
0 n 76 0
6
48 0
0
89 O'
3
62
6
0
62 0
$
10,204
.Total 1879
67%
33%
Fri.
69,650
9,354,034
120,609
Total 1881
Total 1880.
11934 120
45%
45%
136
13534
Thurs.
$7,267,145
40,000
South America
All other countries
X
33
$171,500
Germany
99%
Since Jan. 1
$375,346 $4,609,120 $40,153,300
3,830,193 18,193,430
2,128,902
1,917,038
West Indies
Mexico
5H%6
99316
99316
99%
66%
Wed.
$
Silver.
Great Britain
France
Wed.
Week.
$56,260 $2,672,967 $27,150,862
290,465
3,029,031
6,500
218,710
6.421.380
2,000
186,906
1.421.380
14.294
236,605
210.106
42,670
606,903
100,130 1,183,108
1,287,139
Germanv
1,701
2,765
Imports.
Since Jan. 1
Great Britain
France
45
English Market Reports—Per Cable.
by cable as
Exports.
Gold.
Authorized capital
C. II. Butcher, President i
BANKING AND FINANCIAL.
.
following changes have been made in the officers
of
national banks:
First National Bank of Los
Angeles, Cal.—E. F. Spence, President, in
place of J. E. Hollenbeck; Wm. Laay, Cashier, in
place of E. F. Spence.
First National Bank of
Holly, Mich.—L. Axford, President, in place of
Immediate Redemption of the Called Fives due Oct.
1st,
&
xvitli Full interest to Maturity.
REINVESTMENT OF
J. B. Simonson.
The National Bank,
Republic,
Cashier, in place of Chas. Bradley.Washington, D. C.—Chas. S. Bradley,
First National Bank of
Westfield, Mass.— M. B. Whitney, President, in
place of Geo. L. Lafliu.
The notice given on the 5th inst. was an error
on the part of the
Comp¬
troller's Office, so far as relates to the
change of officers of the First
National Bank of
Plattsmouth,
Neb.
J.
M.
Patterson
is
Vice-President;
A. W.
McLouglilin, Cashier.
THE
PROCEEDS.
Office of FISK Sc HITCH,
BANKERS AND DEALER3 IN GOVERNMENT
BONDS,
Vo. 5 NASS A U
STREET,
New
York, August 23d, 1881.
The Secretary of the
Treasury having given notice that lie will
Imports and Exports for the Week.—The
imports of last at any time on presentation, the Registered Five per cent Bonds redeem,.
of 1881
week, compared with those of the
preceding week, show due October 1st, with fall interest to maturity, it is no longer any object
a decrease in
dry goods and an increase in general merchandise. to holders to retain them; as they can realize at once the full amount
The total imports were
$9,078,635, against $8,550,660 the pre¬ which the bonds would bring if held to maturity, and take advantage of
the present comparatively low price of other Government Bonds for
ceding week and $8,443,527 two weeks previous. The
exports
re-investment
of the proceeds, besides making double interest on their
for the week ended
Sept. 13 amounted to $7,047,356, against money to October 1 st.
$8,442,812 last week and $6,733,690 two weeks
The notice above referred to applies*to all the
previous. The
outstanding Registered
following are the imports at New York for the week ending Fives (except those embraced in the call due May 21), the whole amount
(for dry goods)
Sept. 8 and for the week ending (for general having been called in for redemption.
Wo are prepared to receive the Registered Fives at any time and
merchandise) Sept. 9; also totals since January 1:
allow for
■
FOREIGN IMPORTS AT NEW YORK.
For Week.
1878.
Dry Goods....
$1,889,987
3,520,253
$2,597,924
$5,410,240
$7,179,683
$56,489,723
$66,149,686
Gen’l mer’dise..
Total
Since Jan. 1.
Dry Goods.....'.
,
Gen’l inei’diso..
Total....
In
of
our
1879.
146,921,747
4,581,764
153,533,369
1880.
$3,134,775
5,482,034
1S81.
$2,645,560
6,433,075
$9,078,635
$95,254,746 $79,538,095
258,583,990
222,655,653
$203,411,470 $224,683,055 $353,833,736 $302,193,753
report of the dry goods trade will be found the
imports
for one week later.
dry goods
The
following
is
statement of the exports (exclusive of
specie) from the port of New York to
foreign ports for the
week ending
Sept. 13, and from January 1 to date:
a
them the full value of the principal and interest to Oct. 3, in
exchange for any of the other issues of Government Bonds, all of
which we keep on hand for immediate delivery in any
denominations,
at current market rates.
We will make
exchanges with National Banks having Fives in the
Department, substituting any of the other issues of Govern¬
ment Bonds, on the most favorable terms.
As the redemption of the Coupon Fives, which fell due
Aug. 12,
aud of the Registered Fives, now payable,—amounting
together te
Bank
between
$40,000,000 and $50,000,000, most of which are held by
and Investors, who will require Government
Bonds for re-investment—will create an active demand for
Fours,
Four-and-a-halfs, and the Three-and-a-half per cent Continued Fives
and Sixes, those who act most promptly in
making their exchanges
Institutions, Trusts,
or
investments will doubtless
Orders,
or
secure
the best results.
inquiries for terms of exchange, by mail
or
telegraph,
will receive prompt attention.
FISK & HATCH.
298
THE CHRONICLE
13-16; Charleston, buying, % discount; selling, par; New
Orleans, commercial, 125 discount, bank 100 prem.j St. Louis, 50
discount; Chicago, —@— discount; Boston, 40@50 discount/
Quotations for foreign exchange are as follows, the outside
prices being the posted rates of leading bankers :
J'hc Jfruukzxs' (Gazette.
D
1
iTvTd
ENDS;
The following dividends have recently been announced:
Name of
Fer
cent.
Company.
Railroad.
Chic. Sfc. P. Minn. & O.pref. (quar.)
Dubuque & Sioux City
3
Georgia RR. & Banking Co
.Lehigh Valley (quar.)
Nasln Chatt.
'&
134
$2 50
1^2
St. Louis
3
When
Books Closed.
Payable.
(Days inclusive.)
Oct.
Oct.
Oct.
Oct.
Oct.
Insurance.
Jefferson.
5
On
20 Oct.
15 Oct*
15 Sept.
15 Sept.
1 Sept.
1 to Oct.
1 to Oct.
[Voi. XXXIII.
23
16
16 to Sept. 30
18 to
21 to Oct.
2
September 16.
Prime bankers’ sterling
Prime commercial
bills
Sixty Day8.
on
London.
Documentary commercial
Paris
(francs)
Amsterdam (guilders)
Frankfort or Bremen(reichmarks)
4 SO1^®! al1^
4 79^®! 80
4 79
®4 79^2
5 2614®5 23^4
39^®
93%®
3934
94
United States Bonds.—Governments have been
dem.
iVI
l«ceIlaneoHM.
Egllman’s Palace Car (extra)
Western Union Telegraph (quar.).
Demand.
4
4
4
5
84
83
®4 85
®4 83ifl
82io®4 83
231e®5 20
39 7s® 40ie
Oils®
more
investment demand, and it
94%
active
appeared that there was rather
1^2 Sept. 20 Sept. 4 to
a
scarcity here in the supply of 4 per cents of 1907 and these
Oct.
5 Sept. 21 to Oct. 1G
182
bonds advanced quite sharply. As to the 3% per cents continued
NEW YORK, FRIDAY, SEPTEMBER 16, 1881-5 P. M.
their status will not be settled until Secretary Windom’s
policy
is known.
If these bonds are to be subject to calls from this
The Money Market and Financial Situation.—There have
time forward, they can not rule much above
par, except that the
been various rumors about the purposes of Secretary Windom as bonds
having the longest time to stand (provided they are called
to purchasing or calling in bonds to use up his accruing surplus in the order of their
numbers) may be worth more than the
in the Treasury, but none of these reports appear yet to have others.
The closing prices at the New York Board have been as follows:
substantial foundation. It may be true that Mr. Windom con¬
templates the purchase or call of bonds during the autumn, but
Interest Sept.
Sept. Sey)t. Sept.
Periods.
10.
12.
14.
Am
some of the best-informed dealers in
government bonds, who
usually have the most reliable information from Washington, 6s, continued at 3 *3.. J. & J. *10138 *10114 *10114 *101i4 101 q noiT
on an
.
1
are
inclined to think that
no new
announcement will be made
5s, continued at
4i«s, 1891
*1 Olig *10118 *10118 1013s 1013s
*10114
*113
Q.-Mar. *113
11313 *11318 *11312 U1312
*113
113
Q.-Mar.
11318 1133s *11312 *11312
Q.-Jan. 115ig *11514 *11514 *115% *11612 *11630
Q.-Jan. II6I4 lieq 11638 11738 1173s 11714
Q.-Feb.
reg.
coup.
r eg.
coup.
4!fl8,1891
by the Secretary till after the first of October.
is, 1907
While on this subject of the Treasury surplus,
and the dis¬ is, 1907
*130
*130
*130
6s, cur’cy, 1895..reg. J. & J. *130
*130
*130
bursements permissible from time to time for the
purchase of 6s, cur’cy, 1896..reg. J. & J. *131 *131 *131 *131 *131 *131
bonds, we may respectfully suggest that in the public statement 6s, cur’cy, 1897..reg. J. & J. *132 *132 *132 *132 *133 *132.
*133
*133
*133
6s, cur’cy, 1898..reg. J. & J. *133
*134
*133
of Treasury assets, issued monthly, it would be well to
keep 6s, our’ey, 1899..reg. J. <fe J. *134 *134 *134 *134 *135 1*134
separate and apart from all other items the “ fund for redemp¬
This la tlie price bid at the morning board; no sale was made.
tion of greenbacks.” This is emphatically a trust fund in
U. S. Sub-Treasury.—The following table shows the receipts
character, and was accumulated in large part by the special and
payments at theSub-Treasury in this city, as well as the
sale of bonds under the specie resumption law, and it would balances in the
same, for each day of the past week:
greatly contribute to a clear understanding of the Treasury
Balances.
assets and its real available surplus, if this redemption fund were
Receipts.
Payments.
Coin.
Currency.
treated as an entirely separate item, and kept out of the usual
list of assets. As it is at present, the fund is treated virtually as
$
$
$
$
if it were always available for use, the same as any other cash in Sept. 10... 1,618,278 90 2,947,850 33 79.113.635 89 4,478,124 12
12
1,867,469 67 2,654,423 91 78,380,875 35 4,423,930 42
the Treasury, and the public mind, as well as the official mind, is
13!.*! *3.499.373 09 2,607,335 72 79,372.030 20 4,324,817 60
liable in time to lose sight of this special trust fund, and to be¬
14...
1,174,953 69 1,409,149 00 79.145.635 36 4,317,016 63
come uncertain as to what is the amount of it, and whether it
15... t2,401,590 35 1,924,413 80 79,678,262 37 4,261,566 22
16... 1,407,369 52 1,842,989 37 79,346,304 94 4,157,903 81
consists of gold or silver. At the time of resumption, Jan. 1,
1879, Secretary Sherman had some $133,500,000, nearly all in Total
11,969,040 22 13,386,162 13
gold, in this fund; on the first of November, 1879, he reported
that it had increased to $152,700,000. What is the amount of
Includes $1,000,000 silver certificates receive! from Washington
and $1,000,000 gold from Philadelphia Mint.
the fund now, and what does it consist of ?
t Includes $1,000,000 gold received from Philadelphia Mint, and
Our local money market is easy enough to all good borrowers,
$100,000 from San Francisco Mint.
but there is sometimes quite a wide variation between the notes
State and Railroad Bonds.—The leading southern State
for call loans on government collaterals and on miscellaneous
atock collaterals. This is accounted for by the fact that the sav¬ bonds have been rather stronger this week, and Virginias par¬
ings banks, trust companies, &c., will only lend on government ticularly were more active at higher prices.
Railroad bonds have shown more business, and both the in¬
bonds, and therefore have less opportunity to place their money,
while the banks and other lenders meet with a large demand for vestment and speculative bonds have, as a rule, been quite firm.
loans on stock collaterals. On the various classes of collaterals The supply of new bonds coming on the board list has not re¬
we quote a range of 4@6
per cent. Prime commercial paper is cently been very large, and it is noticed that with many of the
great railroad enterprises now in progress the bonds and stock
quoted at 5^ @6 per cent.
The Bank of England on Thursday showed a decrease for the are taken in the first instance by construction companies or
week of £146,000 in specie, but the percentage of reserve was syndicates, and do not immediately come on the market.
40 1-16, against 39 15-16 the previous week ; the discount rate
Railroad and Miscellaneous Stocks.—The stock market has
remains at 4 percent. The Bank of France shows an increase shown a
healthier tone than last week, and fluctuations have
of 375,000 francs gold and a decrease of 4,575,000 francs silver.
been less violent.
During a good part of the week there has
The last statement of the New York City
Clearing-House been an appearance of much strength in the general market,
banks, issued September 10, showed an improvement of $1,991,- and there was renewed talk of
higher prices as the active busi150, making $971,950 surplus, against $1,020,100 deficiency last noss of the fall months commences.
The speculators in corn
week.
and wheat are so heavily interested in spreading the worst possi¬
The following table shows the changes from the
previous week ble reports of the crops, that it is quite possible an exaggerated
and a comparison with the two preceding years :
idea is given of the probable decrease in the tonnage of cereals
likely
to be carried on the railroads.
1881.
1880.
Differ'nets fr'm
1879
The argument in the New York Elevated Railroad suit against
Sept. Id.
previous week.
Sept. 11.
Sept. 13.
the Manhattan Company, for a cancellation of the lease and re¬
*
“
"
“
«
“
“
*
Loans and die.
Specie
Circulation...
Net deposits.
Legal tenders.
Legal reserve.
Reserve held.
Surplus
$334,091,900 Dec.$3,115,300 $313,716,200 $256,960,400
64,601,700 Ine. 2,257,900
19,782.200 Inc.
99,000
314,828,200 Dec. 1,099,000
15,076,400 Dec.
$78,707,050
Dec.
79,678,100 Inc.
$971,050'lnc.
541,500
$274,750
66,340,300
19,353.600
298,350,500
13,948,200
19 876.900
21,603,500
225,572,900
1,716,400
$74,587,625
80,283,500
39,431,100
$56,393,225
59,358,000
$1,991,150
$5,700,875
$2,964,775
Exchange.—The market for foreign exchange has been firmer
this week, although dull, and the leading drawers have advanced
their posted rates. This is on account of the smaller
supply of
bills making, and this partly from the decrease in the outward
movement of stocks and bonds.
To-day on bankers’ prime
sterling bills the actual rates were 4 80/6@4 81 for 60 days and
4 S4@4 84^ for demand, with cable transfers 4
S4%@4 85 and
prime commercial 4 78%@i 79%. The market for continental
exchange is also firm, the actual rates being as follows : Francs,
5*255/6 and 5*22% ; marks, 93% and 94^ ; and guilders, 39Ys
and 40 respectively.
In domestic bills New York was
quoted to-day as fol¬
lows at the places named : Savannah,
buying, 5-16; selling,
turn of its
property, was heard before Judge Westbrook, at
Kingston, and decision reserved.
The Hannibal & St. Joseph case, to compel the conversion of
bonds into common stock, was heard in this city
by Judge Davis.
To-day the directors held a meeting, at which Messrs. Jay
Gould, Russell Sage, M. P. Bush, President Wm. Dowd, Horace
Porter, Enoch Pratt and Elihu Root were present. The follow¬
ing resolutions
were adopted :
Resolved, That the action of the officers of this company upon the de¬
mand of Henry R. Wilson for a conversion of bonds, and in suhiniting
the question raised by that demand to the determination of the courts,
he and is hereby approved and confirmed.
Resolved, That it is the desire of the company to convert the 8 per
cent bonds into common stock, provided there is a legal right to do so,
and that the officers of the company be authorized to make such con¬
version in
case
of
a
decision favorable to their
The Western Union
right.
Telegraph quarterly statement shows
large receipts, and has been commented upon as probably
including a large amount from other sources than regular
earnings.
On another page will be found an abstract of the annual
report of the Northern Pacific Railroad for the late fiscal year
ending June 30.
THE
17,1881.J
September
CHRONICLE.
299
RANGE in prices at the n. y. stock exchange for the week, AND SINCE JAN. 1.
DAILY
STOCKS.
Saturday,
Sept. 10.
HIGHEST
Monday,
Sept. 12.
Tuesdav,
A Snaqiaelmnna.- - ~ -
64
iffioPittsburg* Western
Burlington
*8*6" "8*6*
Cedar Rapids A Is o.
C?Sar Falls'&Minnesota
Central o? New 'iersey!•
(Vntral Pacific..
Chesapeake &
64*8
96
27*4
9012
2714
9712
90 78
OlSg
40
39%
29%
29
39*4
3934
91 %
27*2
29
Illinois
157** 1*5*7% 157*4 158
139
prei...
Rock Isl. & Pacific
Do
*
77
40
**9*6% *9*2%
137 %
21
Danbury A Norwalk............
Delaware Lackawanna & iiV est.
Denver A Rio Grande
Dubuaae A Sioux City. -.
East Tennessee Ya. & Ga—...
Do
pref..
31
80
65%
66%
"76
65%
90%
-
-
Keokuk & Des Moines
Do
92
3112
16*6’*
Do
pref
Houston A Texas Central
Illinois Central............... ■.
Indiana Bloom’n & West., new.
77
114
50
60
8912
9112
137
77
431
105
50
92
41
104
50
65%
91
29
40
31
132 34
97
95
96
91%
29%
90%
29%
39=4
30=4
91=4
29%
39=4
40
31
132=4
31
131
137
*78
*43**45*
*139
137
136% 137
51
92 34
136
43 %
106% 107%
90
21*y
88
9114
*1*6 *4 ’ 1*6 %
90 7e
16*4
31
87*2
17
16*2
30
45*2
46 Hi
4714
17%
32%
114*2 113% 11434
93
93
93*2
95*4
130*2 133*4 130*2 13134
4734 48*2
46*2 47*2
48 Hi
88%
86
16
30
87
16%
30
30*6" 30*6* * 2*5*6” 3*5*6 *
114% ll2
1*2*8% M0% 1*2*9% i*31%
87%
92
31
1*0*6" 1*0*6*
114*211514 113
89%
*86
113
113=4
1*3*6% 1*31"
46%
47
62
53 7e
54i2
55 % 56 L
5614
55*4 56*2
122 34 123% 1233g 124 3g 123 7g 124% 123% 125%
Lake Shore
Long Island
47
48 ia
47
49
23
49
50
23
97 iy
75
99
75
9734
98 7e
21%
233e
Louisiana A Missouri River...
Do
55
53% 54
123*yl24% 123% 124%
50
51%
50=4 51
pref...
Louisville A Nashville
Louisville New Albany & Chic
96
Manhattan
Manhattan Beach Co
Marietta A Cincinnati, 1st pref.
Do
2d pref.
10
79
83
94 ie
46
Memphis A Charleston
Metropolitan Elevated
Michigan Central
Milwaukee L. Sh. & West., pref
Milwaukee & Northern
Missouri Kansas & Texas
Missouri Pacific
Mobile A Ohio
Morris A Essex.
10
10
7934
84%
SO-^b
79
..
Northern Pacific
Do
pref
Ohio Central
Ohio & Mississippi
Do
prif
Ohio Southern
Panama
Peoria Decatur & Evansville...
Philadelphia * Reading
Pittsburg Ft. Wayne & Chic
St. Louis Alton & Terre Haute.
Do
St Louis A San Francisco pref.
Do
nref.
Do
1st pref.
St. Paul & Duluth
Do
pref
St. Paul
Minneap. A Manitoba.
Scioto Valley
Texas A Pacific
.
..
Toledo Delphoa A
Burlington
Union Pacific
;
United Companies of N. J
Wabash St. Louis APacific
Do
pref.
MISCELL A NEO US.
American District
Telegraph
Canton Co
Delaware A Hudson Canal
New York A Texas Land
Oregon Railway A Nav. Co
Pacific Mail
Pullman Palace Car
”!
Sutro Tunnel
....
West.Union Tel., ex-certificates
Adam8..£XPKESSAmerican...
United
v\ ells, States....".*!.*”."'*!''”
Fargo A Co
.COAL AND MINING.
A
!.....’!
!
Coal
Quicksilver Mining
Standard Consol. Mining
.
Cameron Coal
°
rw!f.al Ariiona Mining
S^beriand Coal & iron
Dead wood
Mining
Excelsior Mining
New Central
Coal..
Sfiveyjjjff Mining
98%
2*i*y *22=4
29
*2134 *2*5
29
27%
27%
17*2
18
20
12*y
13*4
84%
93*4
51=4
*85%
28
16
12
78 3g
86
12
18*2
12*y
85*4
98%
94
*86
53
52*8
98 3g
54*8
97
97%
*21% "2*2"
*18% *19%
"7*9" "7*6"
83=4
9534
93
53%
51%
4 i * * "41%
41*2 42%
4*6=4
10714 108% 1073s 108% 1105*2 108
105
37
37% 38 L
37
37*2 38*4
*y
37%
124
124
12434 125
89 iy 91
88 34 91*4
*89** ‘*9*6*’ *88%
143 7a 144 iy 144*2 145*y tl42
145% 141%
10734 108
107% 107% 106
107% 103
43 3g 44%
4334 44%
43% 43%
43%
88
88 iy
83*4 89
87% 88%
87%
88
14314 14334
106iel07
433e 432^
184
30i2
88
30'*2
30%
186
*185
1S6
190
31 iy 31%
31*8 3134
31%
88
54
5434
5434
56
40i2
41
82
82*4
40
81 i4
27
4034
82%
28%
45i4
26%
4334
27
47
42
118
25
36i2
140
39%
64%
113
25
55 iy
40
82
56*4
40%
82 =4
2812
29 %
4234
4614
;
25 *y
56
40
31%
37%
‘*89’*
57
40*y
81*2 82*2
2830 2934
4434 47
*
2 6 *4
63
65
G4i0
140
4
312
4 6 *2
32 34
30
65
64
140
139
65*y
64
80%
28%
45%
65 34
139
32*2
32*y
33
41
41%
64%
63%
141
141
92 34
92 34
47*8
73
45 »2
72
45%
45*2
72
72
10612 100*2 106
453*
72
106
45% ' 46 *2
72% 73i0
106
*10512 106
102
5214
5314
122* *
i*2*2*7e
48'*2
86 34
50%
883&
108
108 %
16634 i*6*i”
50% 52
143% 145
88 %
‘"137
87
68
130
5534
89 7g
87%
68
130
56%
52*4
53
27
27
122
12314
46*2
72*y
103
"5*3 " "5*4% *52**2 "54**8
i*23**
124*4
88
50
50
108
123**4 124%
893s
50
134
90*2
*45
165
51
110
*1*813 ’ 19*2
517s
-"l*8 ” -1*8
90a4
92 3g
55
*19*2
5534
21
90
25
"2*5" *
26
37
*36
37
*12i2
13*2
1234
*21*14
2134
*54 7g
21
13
60
41*4
*1
“4
109% 110*y
51%
*130
1%
89 %
47
73*2
7u*y
10634 106=4
44,380
21,8 65
78,600
125
47
473
74% 75
106%107
53%
52
27
25
123% 124
88*4
89%
21
4l78
2
47
165 *«
52%
109% 110*4
1,300
300
*45
165
50%
50
165
51%
....
1%
92*8
89%
70
70
129*2 129%
54*2
>19
*2%
*36
13*2
5534
"1*6*2
2%
50%
135
51
135
1%
89%
54 *2
3
54
54
*1*6 " *
19 %
*2%
3
!!.**!! "2*8**
36*2
13%
*21% *2*1*4
4134
*134
50
165
*137
139
*88
89
69 % 69%
132
133
►19" "26'
*2=4
109%
1%
88%
91
*68 *2
128
54 *2
109
*45
164
56,065
80,665
41,597
42
2
14
59%
59%
21%
40%
21%
41%
15,255
2,6*93
134
27
27
130
39
61
90
20
70
27
Apr.
1
the prices bid and asked—no sale
was
made at the Board.
124%
22
48
60
83
22%
50%
63% 105
49% 91%
99% 127%
"2*6%
12,425
"*1%"*2"
200
24
174
109
57%
50
18
12%
42
121
130%
28%
49%
20
38
39%
67%
28%
44%
14
23
67% 102
2*2*5 *‘
28%
JunelO
June23
June 18
50% June 3
72=8
129
129
44% July 16
73% June 14
\V«
42%
25%
33
60
25
50
67
*3*6*
47%
1*1*3%
46
50
53
40
June29 74% Feb. 12
Jan.
6 73% June 9
89% Jan. 4 115% Mar. 7
30
Jan. 15 49
Aug. 2
135
Jan.
3 190
Feb.
5
Apr. 19
2% Apr. 12
June20
Jan.
5
6
51% Jan.
4 75
4 142
112
0
5
1
Jan.
55
118
65
67
May 23
55
June
Apr. 19
Jan. 15
42%
39%
Jan.
5
Aug. 6
5
Apr. 27
1% July 25
0
Juiie 1
June
June
8
8
5=4 Aug. 22
t Lowest price is ex-dividend.
Junell 42
June 18 100
43
Jan.
=4 J an. 4
Aug. 26
3% Jan. 10
2 % Sept. 7
1
141% Aug.13 106% 122
89
Sept. 15 54
66%
3
May 23
4
3
1
60
25
Feb. 21 102
Feb. 18 27%
Ian.
3 107%
94
62% Jan.
5% July 15
l7eJan. 5
4,600
2,100
139%
Mar. 10 38
May 13
105% Feb. 25 13134 July 2 *8*6*
186
191%
May 14
Aug.24 157% 180
39
Feb. 25 60
June30 26% 48
77
Feb. 25 96% May 16 51%
120
300
58
43%
42%
39% June23
77% May 12
July 19 14334 May 25
3% Jan. 11
are
64% June 2
59
May 27
54
May 21
Feb. 28
23
95
1,525
21%
26
99
7 146
Aug. 22 80
Aug. 26 50
43% July 16
41 % J an.
4
1
21%
26
Mar.
Mar. 24 55
June 14
Jan.
4
81% June 3
Feb. 25 115% June29
Feb. 9 42% May 4
Mar. 8 89% May 25
88% Jan. 7 107
July 9
77
100
27
Jan.
Jan.
40
7,100
14
31
1=4
66% 114=4
61
90%
106% 129%
9% 25%
20
53
24 50
9 68% 110%
7 61% 86%
23% July 14 31% Sept. 16
53
Aug. 26 70 May 26
Mar. 17
32=4 Jan. 13 51
64% Jan. 25 88% June 24
23% Jan. 5 37% May 21
35% Aug. 22 60 Sept. 9
97=4 Jan. 8 126
May 21
23
Aug. 26 37% June 10
219% Jan. 7 280 June24
27% Jan. 4 57% June 22
50
Feb. 25 73% Feb. 9
127
Jan. 19 142
May 17
7
-
183%
12 *
29%
118
Feb. 25 131
June 3 100
123
63
Jan.
Mar. 21
6 102
47% 128
140
Feb. 25 15o
Jan.
3 122
155%
96
Aug. 25 130% Feb. 15 109
127%
41% July 26 52% Jan. 15 30
51%
80% July 27 95 Jan. 10 47
93%
60
May 10 84% Junell
164% Mar. 25 190 June13 1*5*5* *1*8*6*’
27 % Aug. 22 43% Feb. 2 20
32%
70
May 14 90 Jan. 29 70
85%
253,743
14
60
36
32% May
May
77
4 131
45,270 45=4 Jan. 4 62%
1,707 130% May 14 151
600
200
900
300
340
*35=4
13=4
160
May 26
Jan. 28 114% June 14
25
39
86
200
6,500
3,341
80,560
89
7
4
18% Feb. 26
*3*0*6
26=4
122% 123%
88%
Jan.
May 20
Aug. 22
37
85
25%
52%
**5*6=4 *51*% "5*6% **5l"
Feb. 25 140
Mar. 22
3,100
875
52
27
138
138% 138*4 *137
8834 88%
88*2 89
27e
25
*36
"*134 **174
88
*45
....
56
52%
1*6 9 * 165*8
137
137
*136
140
88 iy 88 iy
88
88*2
*68
70
*68*2 70
>126
130
*130
5514
50%
17,083
100
108% 109
160% 163
50% 51%
1*8
88 78
87*2
47
102 7e 103*4
**4*8% ’*5*6** "4934 "51*8
8713
107
10,355
39,878
i! 5*1*6
"4*5" *4*9 *
*
450
1,400
"4*914 "49 *14
32 iy
36,725
11,747
120
"2*7"
Jan.
27%
159%
12
Jan.
42
53
27,25*6
100
600
5,980
78%
27%
44%
37
90%
97%
25 34
36%
38% Jan.
5,200
31%
81%
28%
45%
29
4
56
Jan. 27
4 65 34 June 2
115,918 118 Feb. 25 13534 Jan. 20
.1,726 44 June 4 63 June30
100
16% Jan. 26 38 Feb. 21
42
June22 48
June23
23;6*4*6 79 Feb. 25 110% May 18
200
58
Jan.
7 117% Juuell
16,301
15% Aug. 9 46% Feb. 14
300
23
Aug. 20 59% May 26
9
Jan.
10,520
4
24
May 2
6
4,136
J an.
7
15
May 21
2,000 41
Feb. 18 93
June13
25,018
77=4 Sept. 5 126 Feb. 14
114.220
91% Aug. 22 126% Jan. 20
31%
39%
Mar. 23 153
18=4 Aug. 20
May 12
5,450
"1*18
55 %
61%
8130
Aug. 22 113%June
76% Apr. 8 88 June14
3,6o6 16 Sept, 6 21 Aug. 4
30
2,350
Aug. 11 33
Aug. 6
175
Aug. 17 175
Aug. 17
i',230 4434 Jan. 4 350 Sept. 11
94
11,910
Feb. 26 118
July 7
4,700 63
Feb. 26 106
June 18
16,475 124 Jan. 4 146% May 21
7,210
38% Aug.18 57% May 19
14
Jan. 10
30% June 2
36,240
39
"80%
Jan. 25
36% May 14
Aug. 20 156 Jan. 5
60
107
80
108,900
31%
55
May 26
88
May 23
51
Jan. 22
Feb. 25 109% Jan. 24
41% Feb. 1 68% June 22
81
Feb. 25 10134 May 23
127% Jan. 29 142 May 10
200
30%
56
90
90
91
200
10,315
40%
Feb. 26
Feb. 24
36=4 Aug. 22
5,994
88%
39%
80%
28
44
40
17,305
24,345
17.200
18,020
9,145
46.050
56
120
147% Sept. 2 182% Jan. 17
90
Apr. 21 95
May 17
101% Feb. 25 129% June 6
2,630 117
142
107%
44=4
31%
26
'*2*6** *2*8** *27*’ *27%
*2%
””
*41*%
105=4
■'1*8*5 " 18*8* *
*4*6" ‘*42% *42** *43iy *41*31 '43*4 *4l" *4*2*
140
*43** *4*3*
84%
94%
52%
*
Mining
Ontario Silver
Mining ...S'
9730
50*2
51
87
14334
10612
43% 44%
8812 91
..
Pittsburg Mining
85
36*2 38
124*2 125
*8*512 *86
..
■oniestake Mining
78%
106*8 10712
143
105
61%
Rensselaer A Saratoga
Rich.A Allegh., stock trust ctfs.
Rochester & Pittsburg
Rome Watertown &
Ogdensb’g
Manposa Land
15iy
lily
Illy
.79%
47 %
108
35i2 37
..
Coal
28
96%
*3*9*78*41*14 *4’6’i4 **4*ii4 "41*14 '4*2i0
Chattanooga A St. L.
Consolidation
9714
83% 84%
95 78 97*2
47
107
New York Central & Hudson
New York Elevated
New York Lake Erie & West..
Do
pref.
New York A New England
New York New Haven & Hart.
New York Ontario & Western
Do
•
pref.
Norfolk <fc Western
Do
pref
American Coal..
Colorado Coal A Iron*!.* *!
96
97 *2
"2*634 '*21" **2*ii4 *21*12
*12 IT 12
*13** *1*5%
23
127
140
41
5434
Mav 16 100
37
71% July 13
48% June 16
53,730 117 Feb. 25 136 Jan. 19 87% 130
1,443 131% Feb. 26 147% Jan. 17 104
140%
4,565 129 Feb. 26 148% May 21 .00% 204
205!8*0*6
91
22 %
7
High
80% Feb. 25 102% June 18
20=4 Jan. 19 33% May 14
32=4 Jan. 12 48% May 14
200
4*2=4
5 131
Apr.
Low.
Jan. 14
Jan. 18 40% June 20
Feb.
5 45
May 23
82% Jan. 4 112
Feb. 17
16,8*35
109,1*1*6
*
43*8 4434
106 =4 108
105*4 107*2
140
Jan.
62% Aug. 22
872
260
163%
Highest.
10
31
85,020
29.450
2,725
1,559
131
pref
Lake Erie A Western
10.270
7,945
2214
3112
9313 9312
128i4l29i2
453e 457&
8*3
i*2*4** i '2 534 1*2538 12*6*2 1*26*8 i*2*7 % i*2*6** 127*' i‘25% 1*2*6%
8812
225
116
*
200
13934 140
139
51
92
136
*
"9*2" "92% *91% *9*2%
134*yl34%
2234 *22** "22**
20% 21%
91
120
45
37
69
1,000
8i
i*61% 163* * i*6*i"
166
13978 140
13712 138
77
40 %
*21%* 22 %
2134
1*23*58 i'2'5*
Georgia RR. A Banking Co
Hannibal A St. Joseph—..
These
80
95%
92*y
161
Lowest.
200
* 98
31
1393b 13934
10338 10418 10312 10334
prei.
g!S«r»?hCdle.v::::
Maryland
67*8
28*y 29
40*4 40*y
28
i*5*8%i*c*6%
i*36% 1*37*
136% 136%
Chicago St. Paul Minn. & Om.. *4030 *40%
t
65
....
XgSK St L. & New Orleans..
Little
04
& St. Paul
Do
Week,
Shares.
119 is i*21% 1*18*14 120% 119% 12138 1*2*6 <4 12238 i *1*934 i2*i% 1*19 *% i*2*6%
132
Pref- 131%132
133% 132
13334 132 133
A Northwestern....... 124% 125% 1*2*538 126% 12612 127% 126Q 1273 126*4 127% i*26** 1*2*6%
139
Chicago
Nashville
Friday,
Sept. 16.
o.
*124
27
9534
91%
4016
29 7e 30
132is 132ie
130% 130%
Burlington A Quincy,
66 34
3*8** *38
95
the
*
65 7a
27
Range Since Jan. 1, 1881. Year 1880.
Sales of
66
81
66
661s
Sept. 1
123
65*2
6514
79i2
For Full
PRICES.
Sept. 14.
96%
90%
2714
29*4
2d pref
Chicago Milwaukee
Do
mdpaco
21
90
27
*39
OMoi8trri,(7;;;
A Eastern
rnicaeo
65is
**94% **9*5%
-
Chicago
Chicago
61
20
- -
Do
*124
65
66
LOWEST
Wednesday. Thursday,
Sept. 13.
railroads.
AU>™y
AND
7
29% Jan. 4
8% Feb. 7
9
Apr. 22
35
May 27
38% JunelO
21% July 7
75% July 7
27
Feb. 17
45=4 May 26
7
39
30%
434
27
39%
24%
78%
34
*21%
Feb. 14
June 3
Jan.
3
8
Jan.
25%
25%
35% Feb. 9
7
Apr. 13
35
6 34
20
14
7
70
THE CHRONICLE.
300
[Vol. XXXIII.%
_____
-
—
-
■
-
■"
-
—■
—
-■
—
QUOTATIONS OF STATE AND RAILROaD BONDS AND MISCELLANEOUS SECURITIES.
BONDS.
STATE
I
Bid.
SECURITIES.
Ask.
Ask.
Bid.
SECURITIES.
Ask.
Bid.
SECURITIES.
SECURITIES.
S tn K
76
70
1006
Class B,’ 5s 1906
Class C 4s 1906
80
98
90
80
102
6s, 10-20s, 1900
!
14
12 V
pftw
7r' p.ndnrRPil, 1886
1
16
i
i
iLonisiana—
67
GO
7h, consol., 1914
or
Univ., due ’92
Hannibal & St. Jo., ’86.
Do
do
’87.
Gs,
Gs,
Gs,
Gs,
Gs,
Gs,
117
7s| small.
Asyl’m
67 V
Hi
Railroad Bonds.
Do
New
BONDS
Special tax, class 1, ’98-9
Do
Do
Consol. 4s,
Small
Ohio—
108
AND
114
G9
i
1
120
C.Rap.Ia.F.& N.—1st.6s i'04V iio 1
113
114V'
Ctieasp. & O.—Pur. m’v frt.
i'09 i
6s, gold, series A, 1908.
class 3
1910...
89
■
*
42
15 V
107
107
107
110
io*8 *
small
110
registered.....
State Aid bonds,7s,’84 t
Land grant bonds, Gs.
West. Pac.—Bonds, Gs i'lO
So. Pac. of Cal.—1st, Gs. 10G
Union Pacific—1 st mort. 116
116 V
Land grants, 7s, ’87-9.
Lehigh & W.B.Coal—1888
108
108
111
|
98
f.Bl.&Mun.—Inc.7s, ’99
*70
107
2d pref. debentures
3d pref. debentures
4th pref. debentures—
118 V
j 124 VI
Sinking funds, 8s, ’93
124
Registered 8s, 1893... t
108 V! 112
Collateral trust, Gs
114
Kans. Pac.—1st, Gs,’95 *
113
m
1st m., Gs, 1896
111
Den. Di v. ,Gs,ass'd,’99
VI 114
1st cons., Gs, 1939... 107 V 107 V
Cent. Br. U. Pac.—1st,Gs
crip
|
!
L920
96 V
69 V
G2
^
'
62
*52V
oi
40
;
11134 112
i
10934T12
114 V
i
78V
86
Evansv. Div.—Inc.,1920
86 V
6a, golrt, ser. B, int. rtef.
2d, consol., main line, 8s *122
ios"
130
57 V 58
Funded
*!.".;
Roch.
&
Pitts.—Inc.,
1921
41V
Os, currently, int. rtef ...
coups., 7s, ’95.
Waco * N., 8s, 1915 *122
j, 2d,
102
; 4. Louis I. Mt. &, So.—
Income and indemu’y,7s
Atch.C.*P.--lst,Gs,1905 101
Chicago & Alton—1st m.. 119
102
103
!
Income 7s, 1883
At. Jew. Co.*W.—lst,6s
1 1st, 7s, pref.. Lilt accuin.
107 i
*104
Gen. mort., Gs, 1921
111
115
Utah So.—Gen., 7s, 1909 ios
1 2d, Gs, int. acc’inulative
Ill.Cent.—Dub.& S.C., lat 104 j
Sinking fund, Gs, 1903.. 112
j
107
Joliet * Chicago—1 at m.
Mo. Pac.—1st consol., Gs t
I t’gl.&R’y—Scr.B.,inc.’94
Dub. & S. C., 2d Div., 7a *110
j
120
La. & Mo.—1st in., guar.
120 !
3d
t
Plain Income Gs, 1896..
30
Ced. F. * Minn.—1st m. 116V
mortgage, 7s, 190G.
108
120
107
2d mort., 7s, 1900
120
Pacific
of
1
Ind.Bl.*
Mo.—1st,
Gs
W.—1st, pref., 7s
j
,
92 V 94
2d mort., 7s, 1891
St. L. Jack.* Ch.—1st m
1st mort., 3-4-5-Gs, 1909
120 j
79 V 80
St. L.& S.F.—2d, Gs, cl. A 105**
2d mort,, 3-4-5-Gs, 1909.
1st, guar. (5G4), 7a,’94
Dayton Div.—Gs, 1910..
93 V
2dm. (360), 7a, 1898..
3-Gs, class C, 1906
Indianap.r £ firpt —1*1,7s 105 j 106V
95 V
111
95
2d, guar. (188), 7a,’98.
Int.& Gt-Nc.—1st, (?8 fold 109
3-6s, class B, 190G
Misa.lt. Br’ge—lat.a.f. Gs *104V 108’
Lake Shore & Micb. S.—
1st, Gs, Peirce C. & O.
104
107
107
C. B.&Q.—8p.c., 1st m.,’83
V
Miscellaneous List.
Mich. Sc. & NX s.fr
7s -111V
Equipment, 7s, 1895..
!
107
Consol mort., 7s, 1903..
So. Pacific of Mo.—1st m
<131V
Cleve. & Tol.—Slik.id.. 111
(Broker's Quotations.)
Tex. * Pac.—lst,6s,1905 *106
New bonds, 7s, 1886.. 111
5a, sinking fund, 1901..
Bost. liar. & E. new stock
tl7e
100
C. R.I.& P.—Gs,coup.,1917 i 27 1129”!
Cleve. P. * A eh.- Is—
Consol., Gs, 1905
48
Chie.tfe Can.So.—1st, g.,7s
76 V 77 V :
126 V
I
i
*126
Iueome * I’d gr., reg.
Bull. * Erie— > en bds. *126
Ga, 1917, registered
+120
1
)
Keo.* Dos M.—1st, g.,5s 107
91V 9i%: Cin. Ind. St. L. Sc Chic.
Buff. * State Lire- 7s..
1st,Rio G.Div.,Gs,1930
118 ' i
Central of N.J.—1st rn.,’90 117
Kal. * W. Pigeor —1st
Pennsylvania RR—
1st mort., Gs, 1920
101
99 V 102
lat consol., assented, ’99 115
115V
Pa. Co’s guar. 4 Vs 1st c.
Det.M.* T.—lst,7a,1906
Cin. & Ind.—1st, 7s, ’92. 110
|
118
i
Lake Shore—Div. bonds 123 V
Conv., assented, 1902... *115
Registered, 1921
2d,
7s,
1887
105
130
i*38*
Pitts. Ft. W.& Ch.—lstm 137
!
Adjustment, 7s, 1903... 107 108 !
Consol., coup., 1st., 7s 127
Ind. Cin. & Laf.—7s, ’97 112
130
110 V
132
Len.&W B.—Con.g’d.as.
2d
!
127
1912
mort., 7s,
Consol., reg., 1st. 7s...
7s, 1888
Am. Dock & Ini.—Aaa’d.
12G
130
1321-*
3d mort, 7s, 1912
|
Consol., coup., 2d, 7s.. 124
ol.,ifc Hock.Val.—1st, 7s. +117
i
'3
i
129
C. M. * St. P.—lst.8s,P.D
135
124 V 12 G
i
Clev.*Pittsb.—Cons.,s.f
Consol., reg., 2d, 7s
j
2d mort., 7s
!t 110
; Louisville. * Nashville—
1 ol.
2d mM 7 3-10. P. D., 189£ *122
113
4th mort., Gs, 1892
& Toledo—1st m., 7s. +120
130
1st in.,7a, $ g., R.D.,1902 *124
Col. Ch.& I. C.—1st, cons 124
121V 121%'
Consol., 7s, 1898
2d mort., 7s
1*115
!
1st m., LaC. Div., 1893.. 123
2d con., 7s, 1909
2d mort., 7s, gold, 1883.
M.<fc Ft.Dodge—lst,Gs 108
iso" ' Des
:
latm., I. & M., 1897.... 122
Cecilian Br’ch—7s, 1907
1st, Tr’t Co. ctis., ass’d i
Galv.II.<fc
Hen.—7s,
g.,'71
79
I
122
107 V
N.O. £ Mob.—1st,Gs,1930
latm., I. & D., 1899
2d, Tr’t Co. ctfs., ass’d
Gr. Rapids & Ind.—1st, 7s 118
lat in., C: * M., 1903
125
E. If. * N.—1st, Gs, 1919 100
1st,Tr’t Co.ctfs.,suppl. 122 * 123
1st mort., 7s, guar
+112
Consol. 7s, 1905
125
125 V
106
125
Gen’l mort., Gs, 1930.. 10G
St.L.V.&T.H.—lst,g.,7s t
104
Ex-land gram
2d mort., 7s, 1S84
110
2d niort., 7s, 1898
!
Pensacola Div—Gs,1920
17
Stock
1.
107
lat, 7a, I.& D. Ext.,1908 *.-.... 12G 1
2d in., guar., 7s, 1898. I
St. L. Div.—1st, Gs, 1921 103
111
|
Indianap.
»feVine.—1st,
7s
6. W. Div., 1st, Gs, 1909. 106
50
( Rome W.*Og.—Con., 1st.
2d mort., 3s, 1980
9534 96 |
102
2d mort., Gs
11G
93 V100 i
104 1
i Roch.& Pitt.—1st,Gs,1921
102
1st, 5a, La,* Dav., 1910.
Nasliv. * Dec.—1st, 7s. 115
84 V
Kansas & Neb.—lstmort..
latS. Minn.I)iv.,Ga,1910 105 V106 V
105
105
105
!
V
*
Rich.&All’g.—1st,7s,1920
30
2d mort
1st m., H. & D., 7s, 1910
'118
107 V
107
;ioto Val.—1st, cons., 7s. *.;.... 108
Long Island—1st mort.. . 112
Ch.& Pac. Div., Ga, 1910
(1 09
! i Sanduskv Div., 6s, 1919. 102V 103V St. Louis * I. Mount.—1st 114
2d mort
lat Chic.* P.W.,5s,1921
113
96
99
1 Midland
111
2d mort., 7s, 1897
Laf. B1.& M.—1st, Gs, 1919 107
94
of N.J.—lst,newMin’l Pt. Div., 5a, 1910.
94
112 V
Arkansas Br.—1st mort.
ijLouisv.N.Alb.&C.—lst,Gs 105 106
14
Income, “A”
C.& N.weat.—S.f, 7s, 1885 *107 ]
95 V
Cairo * Fulton—1st m.. 110 V
Manhat.B’eh Co.—7s.l899
12
“B”
Income,
1
Interest bonds, 7s, 1883
114
,'109 I i N.Y.& M.B’h—lst,7s.’97 106
Cairo Ark. & T.—lstm. 111
28
Stock
Consol, bonds, 7s, 1915.. 133V 135 ;'Marietta & C’in.—1st, 7s.. *119
91
90 V
Gen.c.r’y* l.g.,5s,1931..
N. J. So.—Int. guar.,6s.’99 102
II
Extension bonds, 7s, ’85
1st mort., sterling
St.L.Alton* T.H.—lstm.
59
1 N.Y.&G’nw’d L.—lst,7s,n
lat mort., 7a, 1885
2d
*
130
98V
99
mort., pref., 7s, 1894.
Metrop’lit’n El.—1st, 1908
14
2d mort
85 1 SjV
2d mort., income, 7s, ’94 106" """i St.
Coupon gold, 7s, 1902... ^124%!
: | 2d mort., Gs, 1899
88 V
Joseph* Pac.—1st m.
i
127 V
JReg., gold, 7s, 1902
Belleville&S. Ill.—1 st m.
1243* 125 |j Midi. Cent.—Con.,7s, 1902 125
30
2d mort
Sinking fund, Gs, 1929.. 109 |11078
1st
St.P.Mimi.<fe Man.—1st,7s 111V ii2 | St. Jos. & West’n—Stock.
- ■ mort., 8s,
1882, s. f.. 104 V
15
109
111
Sinking fund, reg
j
2d mort., Gs, 1909
10834
Equipm’nt bonds, 8s,’83
South Side, L. I.—1st, 7s. 100
Iowa Midl’nd—1 st ra., 8a *127
108 V i'0‘9 i Tex. & St,
Dakota Ext.—Gs, 1910
I
! Gs, 1909
L.—1st, 6s,1910
Galena * Chic.—Exten.
112 !
99
100
jioi%: Coupon, 5s, 1931
Tex.Cen.—lst,s.f.,7s, 1909 110
Utah Central—1st mort.. 106
9G
Peninsula—lstm., conv. *120 !
Tol. Del. <fc Bur.—Main. Gs
;
Registered, 5s, 3931....
Utah Southern—1st mort. 108
127
Chicago & Mil.—1st in..
Jack. Lan.* S—Gs, 1891 *
112
1st, Dayt. Div., 6s, 1910
78
WTs.Cent.—1st series, new
Winona & St. P.—1st m. *100
Mil.*No.—1st, 4-5-6s,1910 *98 )103
1st, Ter’l trust, Gs, 1910
53
2d series, new
|
2d mort., 7a, 1907
i j Mil. L.S.&W.—Ist6s,1921 * 105 V! 107
■W. St. L. & P.—Gen. m., Gs 100
C. C. C.& Ind’s—1st,7s,s. f.
88
95
..127
I 89
Chic. Div.—5s, 1910
94
Mo. K. & T.—Gen.,con., Gs
|
Consol, mort., 7s, 1914..
106 V
105 V Southern Securities
Hav. Div.—Gs, 1910....
Con8., assented, 1904-6. 106
C St.L.«feN.O.-Ten.lien,7s ill5
82 ) 82 V
2d mort., income, 1911..
11734
Tol.P.&W.—1st, 78,1917 117
(Broker's Quotations.)
lat m., con., 7a, 1897
Wabash—Mort. 7s of ’09 110
i 11G
1112
j
11 11. & Cent, Mo.—1st,’90. i
STATES.
C-St, P.M.* O.—Cons., Gs 103 V 10334 Mobile & O.—New m., Gs.
109
'113V
Tol. & W.—1st, ext., 7s
So. Car.—Consol. Gs(good)
C.St.P.&M.—1st.Gs, 1918 *112V
'118
1 Morgan’s La.*Te.x,lst,Gs
1st, St. L. Div., 7s,1889
103
No. Wise.—1st, Gs, 1930.
Browne, consol
2d mort., ext., 7s, ’93.. *110
Nash.Chat.* St.L—1st, 7s 118 V 119
54
Virginia—New 10-40s
8t.P.*S.C.—1st, 6.8,1919 iis- il3V' 2d, Gs, 1901
50
Equipm’t bonds,7s, ’83
Chic.* E.I11.—lst,8.f.,cur.
113
105 V
N. Y. Central—6a, 3883
iio
RAILROADS.
Consol., conv., 7s,1907 109
DeL L. & W.—78, conv. ’92
112
Gt. West.—1st, 7s, ’88. 107 ^
Atl. * Gulf—Consol.7s,’97 till
Gs, 1887
Mort, 7a, 1907
126
112
104
111
*124
2d mort., 78,1893
Atl.& Charlotte—1st, 7s... 109 V
Gs, real estate, 1883
“124
126
93
v
Q. & T.—1st, 7s, 1890
Gs, subscription, 1883.. 104
Syr.Bing.* N.Y.—1st,7s
Income, Gs
Morris * Essex—1st m. 130
140
75V
N. Y. C’. & H.—1st m.,cp. *137
Stock
:
Ill.&S.L—1st, 7s, 1882 *io6"
2d mort., 1891
118
120
96
1st mort., reg., 1903
Han.<fe
*137
Car. Central—1st, 6s, 1923
Naples—1st, 7s
Bonds, 7a, 1900
Hurts. R.—7a, 2d, a. f.,’85
Cent. Ga.—Consol, in., 7s. 116V
St.L.K.C.&N.—R.e.,7s 108
7a of 1871-1901
120
99 V
+12234
Canada 80.—1st, int. gu.
Om.Div.—1st mort., 7s 117% iis
Stock
| Charl’te
1st m.,consol., guar.,7s
126
Harlem—1st m., 7s, cp.. *135
Clarinda Br.—6s, 1919
C.<£ A.—Consoles 108
|
104
1st mort,, 78, reg.,1900 *133
M.&H.C.—lstm.,7s,1884 106 10734
2d mort., 7s
St.C.B.—1st, 7-8s,1908 102
1st mort., 7a, 1891
116
119
50
117
N. Y. Elev’d—lst,.7s, 1906 115
No. Missouri—1st, 7s.
i‘23%' Stock
|! ;N.
lat mort., ext., 7s, 1891.
120
West.U. Tel.—1900, coup
Chic.St.L.&N.O.—New 5s
Y.Pa.&O.—Pr.l’n,6s,’95
i:
1st mort., coup., 7s, ’94. i'2l”
■9*2'
119-2 120
E. Tenn.Va. & Ga.—1st, 7s *116
iN.Y.C.&N.—Gen.,6s,1910
1900, reg
1st mort., reg., 7s, ’94...
! N.Y.& New Eng.-Xst, 78. 119
121
*122
Spring Val. W.W.—1st, 6s
Georgia Railroad—7s
lat, Pa. Div., cp.,7s,1917 *
133
1st m., Gs, 1905
110
109
*110
Gs
V
Oregon RR.&Nav.—1st,6s
Reg., 7s, 1917
100
Nevada Cent.—1st m., Gs.
Memph.&Char.—1st,cons. 117
INCOME
BONDS.
Alb. * Susq.—1st m., 7s +116
103 V
N. Pac.—G.l.gr.,lstcou.6s
1st, consol., Tenn. lien.. 117
2d mort., 7a, 1885
103 V (Interest payable if earned.)
+109V
Miss. Central—1st m., 7s. 107
Registered Gs, 1921
107
1st,cons., guar.7s,190G *128
N. O. Pac.—1st, Gs,g.,1920
92 V Ala. Cent.—Inc. 6s, 1
2d mort., 8s
Bens, * Sar.—1st, coup, 138
9*7 -2 10*6" N. O. & Jackson—1st, 8s. 112
10734i Central of N. J.—190:
Norf.tfcW.—G.l.m.,6s, 1031 107
1
lat mort., reg., 1921
138
121 v; ChiC.St.L.&N.O.—2d,1907
Ohio & Mias.—Consol, s. f. 120
Certificate, 2d mort., 8s. 116
i
Denv. & Rio Gr.—1st,1900 116 V 117
1
Consolidated 78, 1898... 120
75 V
j
Northeast.,S.C.—1st m.,8s 127
1st, consol., 7a, 1910.... 11034 lllio!
119
122
2d consolidated, 7s,1911
2d mort., 8s
|
Denv. So.P.& Pac.—1st, 7s 105
107 j
112
1st m., Springfield Div..
Port Royal & Aug.—1st,6s 104
E.T.Va.&Ga.—lat cons. 5s , 85
100 V
Ohio Cent,—1st, 6s, 1920. 100
i‘09" Rich.* Dan.—1st, cons.,6s 103 V
Erie—lac mort., extended. <
106
ISO
1st m.,Ter’lTr.,6s, 1920
ioov
Stock
*60
2d mort., ext’d 5s, 1919. *i06V
Ohio So.—1st M., 6s, 1921.
94 1
93
95
South w. Ga.—Conv. 7s, ’86 120
3d mort., 7s, 1883
106
107 J i Panama—S.F. sub.Gs,1897
110
GO
Slock
Ind s Dec.<feSpr’d—2d inc.
1 Peoria Dec. &
4th mort., ext’d, 5s, 1920 110
109
S.CarolmaRR.—1st in., 7s 1106
Ev.—1st, Gs 107
5th mort., ext., 7s, 1888. 113
40
115 |
Evans. Div., 1st, Gs. 1920
104 V Int. & Gt. North.—2d Inc
Stock, assessment paid.
lat,consol., gold, 7s,1920i 126 129
Pac. RRs.—C.Pac.—G.,Ga. 115V
100
2d assented, Gs, 1909...
7s, 1902, non-enjoined.. 122
70
130 !
*
San Joaquin Branch..
Lon^ Dock bonds,7s
Lake E. &W.—Inc. 7s, ’91
70
Non-mort. bonds
70%
1
98
130 1
*120
Cal.* Oregon—1 st m.. *107
63 1
jt'i.ceg nominal.
t And accrued interest.
* No price Friday—these are latest quotations made this week.
96%
69V
64
64
92
54%
54"
48
.
!
_
..
......
16V
******
SECURITIES.
cen^Pacitic.—Continu’d)
Houston * Texas Cent.—
1st mort., 1. gr., 7s
1st mort., West. Div., 7s
1st mort.,Waco * N., 7s
Central Iowa—1st, 7s, ’99
**
7934
Registered
Do
Do
'
114
Funding 5s, 1899
118
Gs, coupon, 1893-99
MISCELLANEOUS
35
35
35
3-65s, 1924
“
70
COln.
Small bonds
111V
13V
IfIK
68 V
District of Columbia—
....J
83
Gs, 1880:
'108
1st, La Gr. Ext., 6s,1910 *
2d mort., 7s, 1904
11034 112
117
Gulf Col. & S. Fe—7s, 1909 115
Han. & St. Jos.—8s, conv. 110
71
100% 101
class 2
12 V
103
69
......
Rhode Island—
128
100
114V:115 V
'107V
(Stock Exchange Prices.)
1868-1898.
bonds, J.*J., ’92-8
Do
A.&O
Chatham RR.
......
N.Y.L.E.&W. ~New2d,G 100
1st, consol., fd. cp., 7s. *
2d, consol., fd. cp., 5s. *97
Ala. Central—1st, 6s, 1018
Atch. T. & S. Fe-4 V.1920
Boat, H. * E.—1st mort\.
Bnr. Cert. R,& No.—1st, 5s
Minn.* St. L.—lst,7s,gn
Iowa C.& West.—1st, 7s
111
110
112
114
107
110
110
103
120
121
122
gold, rog., 1887
gold, coup., 1887
loan, 1883
loon, 181il
loan, 1892;
loan, 1893
RAILROAD
Balt.&O.—1st, 6s, Prk.Br.
....
Gs, Act Mar. 23,18G9 )
non-fnndable, 1888.. ^
Brown cousol’ii Gs, 1893
Tennessee—Gs, old, 1892-8
j Gs, new, 1892-8-1900....
15
i Gs, new series, 1914
15
Virginia—Gs, old
Gs, new, 1860
1
Gs, new, 1867
s j
Gs, consol, bonds
0
Gs, ex-matured coupon..
8V j
Gs, consol., 2d series
7v! ! Gs, deferred
140
140
120
120
13
13
22
22
5
7
7
A.&O
coup, off,
coup, offj
J.*J.
A.&O.
Funding act, 1866-1900.
110
110 V
105
1 gsn
7s gold 1890
1882 or 1883
I880
1887
1888
1889 or 1890
102
Funding, 1894-’95
I
109
7«
duo
due
due
due
Gsi duo
Gs,
Gs,
Gs,
Gs,
20
15
12 V
12 V
I)o
Do
Do
Missouri—
ArkanRHH—
Gr, fnndpid 1899-1900...
7s, L. Rock & Ft. S. iss.
7s, Memp. & L.Rock RR
7s, L. R. P. B.& N.O. RR
7s, Miss. O. & It. R. RR.
7s,‘Arkansas Cent. RR.
104
120
Gs 1883
7 s, 1890
78
EAsk.
South Carolina—
Carolina—Gs, old, J.*J.
Gs, old, A.* O
No. Carolina RR., J.&J.
N.
rUftttA A
Bid.
......
80
46
99
91
38
60
51
47
1
.
.
......
...
2V
52 V
124V
106
112
107
114
......
...
1
......
......
....
■
|
--
-
124
118
111
81
120
115
-
21
....
'
1
,
.
......
.
.
.
.
..
|
•
......
iiovj
..
...
......
..
*124*
106
86
32
114
107
96
17
14
30
103V
61
18
90V
35
17V
106
91
108
80
56
105
55
115
110V
97
76
101
118
123
!
......
Vj
■
..
j
ib’i%|
io»T
54
107
no
124
112
120
iiiT
116
115
120
107
no
108
43
123
75
gaiTKMBER
THE
17, 1881]
CHRONICLE,
Railroad Earnings.—The latest railroad earnings and the
dates are ffiven below. The state¬
^an* 1 *°
ment includes the gross earnings of all railroads from which
returns can be obtained.
The columns under the heading
u
jan x to latest date” furnish the gross earnings from Jan. :
and including, the period mentioned in the second column:
New York City Banks.—The
following statement shows the
condition of the Associated Banks of New York
City for the
week ending at the commencement of business
on Sept. 10.
totals from
Average
.
Banks.
Capital.
,—Latest earnings reported—, ,—Jan. 1 to latest date.Week or 2Jo.
1881.
1880.
1881.
1880.
Gt. Southern. August
Atoii Tod. & S. Fe .August....
Ala
&
$68,187
981,000
N.Y. Air-L. July *
25,306
IS?!c IUP.& No.. 1 st wk Sept
$58,570
G74.228
26,134
35,284
$470,791
$392,070
150,149
158,876
301
New York
Manhattan Co...
Merchants
2,000,000
2,050,000
2,000,000
2,000,000
Loans and
discounts.
Specie.
10,222,000
f
2,264,000
7.552.400
amount of
Legal
Tenders.
1,003,000
1.110.900
*
240,000
132.400
699.400
Net dept's
other
than U. S.
Circular
tion.
%
t
9,702,000
6,004,800
495,000
49,212
7.120.900
1,429,708 1.321,224 Mechanics’....
0,013,000
360*,OOO
8.173.000 1,300,000
34,676
30,643
421,000
7.103.000
269,193
254,499
Union
4.930.300
64-6800
1,200,000
YZZtvAi Pacific...August....2,050,000 1,973,437 14,807,926 12,318.196 America
545,000
4.282.500
9.934.200 1,414,000
3,000,000
549,000
7.808.200
rhAs & Ohio
1,100
July
225,096 238,236 1,524,387 1.497,272 Phoenix
3,742.000
1,000,000
800,000
54,000
3,588.000
267,000
Chicago A Alton'. 1st wkSept 183.568 182,077 4,877.196 5.076,257
City
9.071.500 3.35'J,800
1,000,000
212.000 10,289.800
JSfS Burl.&Q-..July
1,888,338 1,773,643 10,986,904 11,433,248 Tradesmen’s..
3.183.200
1,000,000
301.300
55.600
1.866.800
799,866
Fulton
& East. Ill.. 4th wk Aug
43,897 '
600,000
1^26.500
240,000
35,429
103.000
1.356.900
Chemical
rhio AG.Trk.Wk.end.SQpt. 3
300,000 13,145,500 3,397,000
29,685
305.300 13.559.000
26,531
Merch’nts’ Exch.
677,900
fSrt
Mil.&St. P-lstwkSept 375,000
476,000
3.850.100
274,696 10,742,000 7,740,166 Gallatin Nation’l 1,000,000 4.142.200
506.200
yuu.
4 579,400
515.100
2 59*2.600
59.500
789.200
iqfwi-sept 509,191 409,535 13,796,155 12,366,553 Butchers’&Drov. 1,000,000
Chic. A North w.. 1st
1.672.500
83:5,0OU
300,000
50,400
1.477.800
234,000
257,700
Chic. 8t.L.& N.O. August
224,737 2,369,223 2,070,425
Mechanics’ & Tr.
1,060,000
115,000
200,000
157,000
1,070.000
174.000
chi St P.Min&O-.lstwkSept
Greenwich
85,775
“ ~~ 2,520,300 1,893,568
69,423
983.700
19.200
200,000
182,200
030,800
2,700
Leather
Man’f’rs
2.954.500
Chic & W. Mich.. 1st wk Aug
20,224
502,000
600,000
14,382
72.600
596,406
2.292.900
467,228
480,000
Seventh
Ward...
3.013,100
180.700
300,000
178,861
L.& C. July
8^,500
1,009.700
204,138 1,247.047 1,287,931
33,400
8tanTof N. York.
3.477.500
506.700
800,000
59,900
Cin A Bpringf.
3.173.000
1st wk Sept
18,308
18,120
10,200
634,157
609,472
American Exch.. 5,000,000 13,618.000 2,991.000
450,000
11,207,000
ClevCol. Cin. «fe 1.1st wk Sent
87,238
99,607 2,987,121 2,959,648 Commerce
5,000,000 13.920.900 2.5U.900
703.600
8.320.700 1.023,700
CIav Mt.V. & Del. 1st wk Sept
9,236
10,518
279,204
5.302.100
Broadway
1,000,000
723.200
291,813 Mercantile
140.400
3.829.800
9U0.000
Col &Hock.V.,&c.lst wkSept
56,000
47,000
6.848,000 1,307.400
1,000,000
320.300
0.812.100
800,000
Pacific
Denver & Rio Gr. 2d wk Sept
322.100
140,172
2.414.500
422,700
86,747 3,998,600 2,002,754
114.500
2.488.900
Republic
5.921.70C
527.700
1,500,000
DesM.&Ft.Dodi'e.4tliwkAug
15,619
174.800
8,424
3.195,000
l,113,2<j0
Chatham
8,337.000
579.000
450,000
96.500
Det Lanfl.A No..1st wk Aug
3.400.900
45.000
24,462
21,908
763,566
People’s
683,614
1.519,9j<i
200,000
152,000
88,000
1.604.400
5,400
DubuaueAS.City. 1st wkSept
27,786
22,630
North
730,069
America..
691,420
2.846.500
149,000
700,000
279,000
2.805.100
Eastern
August.... 332,000
Hanover
302,389
7.052,700 1,035,400 1,021,000
1,000,000
7.589.300
800,000
Irving
EastTenn.V.&G .1st wk Sept
65,472
59,182
500,000
553.100
3.000,000
182.900
2,o95,400
417.200
Metropolitan.... 3,000.000 10,127.000 3.483,000
FlintAPere Mar. 1st wkSept
34,954
31,885 1,234,625 1,018,977
161,000 13.850,000 2.250,000
Citizens’
2.105.10C
600,000
Gal.Har.A San A.lstwk July
233.200
21,176
214.000
20,199
2.006,500
270.000
Nassau
197.100
1,000,000
2.937.20C
103,000
GPt Western.Wk.end.Sept. 9 100,480
2,055,400
3,900
105,452 3,549,962 3,366,477 Market
3,004.206
500,000
480.200
122.30U
2.481.200
450.000
Gr*n Bay & Minn. 1st wk Sept
8,042
7.028
8t. Nicholas......
1.977.200
339.100
500,000
48.100
1,525.000
450.000
Gulf Col. & S. Fe. August
Shoe & Leather..
100,729
36,290
500,000
3.493,000
705,000
115.000
3.477.000
450,000
Corn Exchange.. 1,000,000
HannibalA8t. Jo. 1st wkSept
47,889
54,334 1,473,228 1,653,281
4,472,000
403,000
53,000
3.215.000
4,000
Continental
Houst.E.&W.Tex. August
7.232.300
1.503.100
12,928
1,000,000
10,150
108,100
91,461
7.510.100
703.200
63,981
Oriental
19.20(1
300,000
2.010,990
Eouflt. A Texas C.4thwk Aug 111.784
381.100
1.813.400
104,135 2,277,338 1,977,892
Marine
400,000
3.409.000
640,000
155.000
3,879.000'
IllinoisCen. (Ill.)-August
45.0CO
649,984
594,946 4,263.677 4,082,440
Importers’ & Tr.. 1,500,000 21,230,100 5,841,800
477.900 23.707,700 1,114.400
Do
(Iowa). August
Park
182,402
137,809 1,141,921 1,078,446
2,000,000 17,098.500 3.902.100
429.200
19.884.20C
45,000
Indiana Bl. AW.. 1st wkSept
Mech.
33,633
27,406
Ass’n
814,027
500,000
ISs.OOu
1,024,800
3.400
723,700
817,278 North Bkg.
Do OhioDiv. 1st wkSept
River
20,460
240,000
1.090.900
32.S00
17,647
129.20C
1.108.500
East River
Ibd. Dec. & Sp...August....
250,000
124,800
64,944
1.083.500
59.800
51,184
325,685
805.400
224.500
263,385
Fourth National. 8,200,000
Int.A Gt. North..4th wk Aug
19.800.000 5.300.000
97,436
606.900 20,600,000
50,233 1,598,035
910,000
Central
Nat
978,392
2,000,000
8.545,000
360,090
1,388,000
Iowa Central
8.000.000 1,287,000
August
98,936
80,079
Second Nation’l.
300,000
530.000
3,251.000
290.000
3.620.000
K.C.Ft.S.AGulf.lst wk Aug
45,000
28,506
20.432
National..
838,497
750,000
650,934 Ninth
0.449.300 1,102.600
215.500
6.304.900
508.500
Lake Erie & West. August.... 165,557
First National..
127,812
904,133
500,000 15.953.80u 3.959.900
186.800 17.581.000
701,135
442,100
Third
Louisa. A Mo. R. .May
National.. 1,000,000
33.743
5.833.400 1.344.700
32,627
241.000
167,928
0.137.800
173,178
N. Y. Nat. Exch..
Louisv. & Nashv. 1st wk Sept 225,800
800,000
1.487.900
188.200
190,300 7,407,716 5,847,138
113.600'
1.182.800
270,000
National
Bowery
250,000
1.7213.400
185.500
Memp. A Chari... 1st wkSept
194.600
1.497.300
23,154
225.0
23,254
775,805
N. York County..
664,516
200,000
1.437.100
21.200
451.000
1.749.800
Memp. Pad. A No. August
18,592
180, OC
16,941
Germ’n Americ’n
152.362
129,930
750,000' 2,543.714
385.660
17.000
2.341.305
MiLL.Sh.A West. 1st wkSept
Chase National..
14.710
7,344
364,287
300,000
254,962
4.613.400
1.253.700
176.000
5.270.000
Minn. A St. Louis.2 wksjAug.
91,* 00
Fifth Avenue....
58.527
30,061
100,000
1,si 1,400
649,686
364.200
1 952.2- 0
413,911
154.100
German Exch.
t Mo. Kans. A Tex. 1st wkSept 158,744
200,000
120.334 4,924,000 3,752,321
1,303,800
15.000
1.515.800
139,000
Germania
Missouri Pacific .1st wkSept 161,526
200,000
1,829,000
73.300
115,701
163,60 >
1.562.700
U. S. Nat
500,000
Mobile & Ohio
August
4.319.400 1.187,^00
60.100
159,348
449.500
4,066,800
140,503 1,412,799 I.285,922
Nashv. Ch.ASt.L. July
150,430
151,594 1,229,653 J, 176,274
Total.
01.162,700 334,091,9 V 04.601,700 15,076,4-K.1 314,828,200
N.Y. L. Erie & W. June
19.782,200
1,794,982 1,661,812 9,997,393 9,091,064
N.Y.AN. Engl’d.August.... 267,514
The deviations from returns of
249,885
week
are
as
previous
follows
:
N. Y. N.H.&Hart.June
488,440
369,116 2,676,860 2,211,531 Loans and discounts
Dec. *3.115.300 | Net deposits....
N. Y. Pa. A Ohio.. July
Dec.
$1,099,000
422,657 433,538 3,156,654 2,855,168 Specie
Inc. 2,257,000 I Circulation
Norfolk & West... August
Inc.
99,000
Legal tenders
190,682
179,947 1,337,999 1,228,016
Dec.
541,500 i
Northern Central. July
440,811
450,298 3,102,677 2,666,088
The
Northern Pacific .3d wk Aug.
following are the totals for a series of weeks past:
77,386
50,468
Ohio Southern
1st wkSept
Loans.
7,001
Specie.
L. Tenders. Deposits. Circulation. Agg. Clear
1881
#
$
Oreg’nR. Nav.Co. August
$
450.100
$
313,239 2,610.977 2,087,292 Mar.
*
Pad. A Elizabetlit. August
26....30),622,000
57,668,900 12,934.50 )
43,441
34,304
332,026
248,123 April 2 ...300,283,100 57.611,000 12,710,503 275,5*6.500 16,630.503 774,684.705
Pennsylvania ....July
275,195,400 16,713,50) 950,446.299
3,780.418 3,449,644 25,334,257 22,883,715
60.429.000 12,472.703 232,788,500 16.709,00) 815,<*34.483
Peoria Dec. &Ev. 1st wkSept
17,183
8,648
447,759
6a.Hl9.300 13,428,600 288,821,100
272,383
16,860,200 724,170.359
Philadel. & Erie.. July
291,669
303,099 2,014,696 2,083,497
00.804,200 14,418,200 292.053.000 17.217.400 978.203,38*
Phlla. A Reading. July
1,835,725 1,282,835
69,289,400 15.784.700 294.536.300 18,600,100 870,862.835
May
8t.L.Alt.AT.H. ..1stwkSept
7....310,*50,000 73,346,500 16,024,600 305,033,900 18.664.200 1144.476.789
24,725
29,635
977,410
948,061
Do
76,887,700 17,134,100 316,818,400 18.590.900 1078.352.065
(brchs). 1st wkSept
13,500
13,662
490,992
442,539
80,518.500 17,873.000 326.611.7C0 19.135.300 1212.047.633
8t. L. Iron Mt, A S. 1st wk
Sept 175,709
166,294 4,667,141 3,7S3,304
79.134,800 18.633,800 332.182.800 19.301.200
Bt.L. A San Frau. 1st
wkSept
67,952
61,996 2,068,328 1,660,232 June 4....341.094,900 76,052,100 16,325,300 339,543.600 19.263.300 1198,726,141
019,301.800
It
flt.P.Minn.AMan.lst wkSept 115,111
.347,494,900 76,902,800 13,313,300 345.643,200
56,297 2,865,833 1,993,966
19,236,100 978,180,859
Scioto Valley
7
5,611,000
18,474.300
IstwkSept
12,672
9,468
344,307,600 19.305.300 10i9.215.091
266,341
211,074
South Carolina.
77,001,500 18,092,000 313.640,800
May
66,195
58,113
513,624
457,166
July 2....350,491,100 76,415,600 17.1!2,300 340,466,400 19.144.300 953.507,156
Southern Pacific.May
19,176,800 014,724,597
503,000 445,953 2,015,300 1,811,707
77,726,500 16,264,300 349,843,000 19.149.200 851,848.902
Texas A Pacific
..IstwkSept
71,624
61,253
8
1,916,900
17.058,700 - 351,199,300 10.161.300
Tol. Delp. A Burl.
August
65,247
26,160
23....349,240,500 81,491,400 16,752,000 852.653.S00 19.185.300 844,846.881
Union Pacific....
634,014.123
30....349,188,400 81,043,400 10.931,800 351.777,900 19.212.900 93*2,788,320
13dys
Sep.1,182,993
916,154
17,879,060
15,214,548
Wab. St.L. & Pac.1st
Aug. 6
350.e24.800 76.510.900 16,000,000 3t7.342,700 19,360.000 847,08
wkSept
340,603
245,125
9,242,458
7.012
7,806,326
*
13....351,024,700 71,641,100 15,927,000 342,722.400 19,486,000 025.048.774
5 per cent basis in
1881; 6 per cent in 1880.
20....349,542,800 67.138,400 1 >.842.800 334,795,600 19,506,000 825,491.352
11ncluding leased lines.
02,151,400 16,210,900
Cairo <fc
St.Louis.August.
c£iud.St.
..
121796..334052764890
..
..
..
“
“
•*
44
Coins.—The following are quotations in gold for various coins:
Sovereigns
$4 82 @$4 86
Silver
and ^s.
99 %@ par.
3 83 'a) 3 86
4 74
X Guilders
3 95 @ 3 97
Span'hDoabloons.15
55 @15 75
Mer. Doubloons.. 15 50
@15 55
Fine silver bars
1 12*8 3> 1 12%
Fine gold bars...
par @ *4 prein.
Dimes A hj dimes. —
Five francs
Mexican dollars..
Do uncommerc’l.
Reichmarks.
English silver
..
„
993a@
....
—
92
@
—-
95
—
88Vo)
—
89
—
87
—
83
@4 80
@ — 69
@
4 70
Prus. silv. thalers.
U. S. trade dollars
—
U. S. silver dollars
—
68
—
9938®
99 7s®
par
—
995s
par.
323.721,300
62,348,800 15,617,900 315.927.200
64,301.700 15,076,400 314,828,200
Boston Banks.—The
—
Napoleons
XX
Sej>t
banks for
a
series of weeks
Loans.
1881.
*
May 30..
151,004,400
152,846,300
June 6..
“
13..
“
20..
“
27..
July 5..
following
Specie.
*
are
'
“
*
3,294,700
3,380,100
Deposits.* Circulation. Agg. Clear
$
101,051,500
106,244,700
.
“
Stocks and Bonds of Gas Companies.
“
[Ga* Quotations oj ueorge
H. Prentiss, Broker, 17 Wall Street.]
Gab
Companies.
Ga8 Light Co....
Citizens Gas Co
(Bklvn)
Hlrtem?
b0od“"
Par.
25
20
4, COO
50
20
50
100
Metrooolitan..
K«u?Brookl0radS:
"crI1>
Bonds**.'*’’
grttroMaateiil?,1*
500
100
Amount. Period
2,000,000
1,200,000
Var.
Var.
Apr., *31 125
7
3
7
5
1898
5.000,00©
V4 July, *dl
Quar.
4,000,000 M. AN.
1,000,000 J. & J.
375,000 M. AN.
700,000 M.&N.
125,000
Var.
406,000 F.& A.
50 1,000,000 Quar,
1,00a 1,000,000 A.* 0.
100 1,000,000 M. &N.
100 3,000,000
.
.
750,000 M.&N.
....
1
500,0001
2H
314
4
’78 88
Jan., ’81 150
Aug., VI 210
Aug. ’81 150
Feb.
•
•
•
•
.
.
69
100
1882
’80
00
Dec.
May, ’8! 98
10*
3* Jan., ’76 33
7
1897
103
0
1900 Ac SO
’80
3
60
July,
2
6
2M>
5
8
.
July.
’81
00
101
July, ’81 63
June, •81 185
188S
105
...1 68
1900
127
52
105
3
100
10
100
Bid. Ask.
*
2* Aug., ’80
315,000 A. & 0.
1,000,000 F.& A.
1,000,000 Var.
Var.
50
5
“
Date.
1,850.000 f.&A.
750,000 J. & J.
4,000,000 J.& J.
2,500,000 M.& S.
1,000,000 F.& A
1,000
25
Va*.
1,000
&
“
107 H
9)
WO
215
152
113
70
104
02*
100
106
35
105
90
63
65
104
63
190
110
2
1
639,907.970
the totals of the Boston
7,964,200
7,855.900
3.328.500 109,751,500
153,957,800
8,2*0,100 3.174,500 114,533,700
15-M337.000
8,457,100
3,612,900 110,102,600
160,767,100
8,857,600
3,577,600 112,903,200
11
161,586,800
9,111,900
3,205,600 113,195,800
18.. 163,121,500
9,848,100
3,309,300 114,080,000
25.. 163,745,500 10,345,300
3,704,200 114,558,900
Aug. 1.. 164,264,800 10,688,000
3,797.700 113,853,900
8.. 105,365,500 10,192,400
3.2 8,700 114.454,400
“
15.. 105,169.500
9,132,600
3.116,000 111,853,400
22.. 166,110,700
8,712,500 3,123,600 110,450,000
“
29.. 104.503.800
8,300,700
3.259.800 106.864.900
6.. 102,405,700
Sept.
7,954,400
3,059,300 103.886,500
*•
12.. 131,153.000
7,395,000 3,041,100 102,409,800
*
Including the item “ due to other banks.”
158.296,400
857.413.264
19.732.200
past:
L. Tenders.
7,503,700
19.590.900 859.887.412
19.683.200
$
*
30,476,500
96.881,371
80,822,700
02,862,818
30,989,600
87,608,568
30,715.200
83,984,803
30,773,100
83.471.027
30,942,100 104,789.730
30,061,500
83,072.711
31,074,000
91.686.465
31,226,100
83,524,377
81,376.600
78,230,456
31,491.900
80,862,054
31,439,100
75,805,999
31,628,500 80,469,250
31,071,500
74,392, 983
31,558,600
78,460.631
31,523,200
06,820,114
Philadelphia Banks.—The totals of the Philadelphia banks
follows:
are as
1881.
May 30
June
•*
“
July
“
“
44
6
13
20.
fct
27
5
*‘
“
Circulation.
76,612,564
70,471,207
74,588,603
23,720,055
23,250,367
%
10,287,440
74,902.044
74,033,519
10,243.210
21.920,180
21.981.020
21.536.243
21,913,714
22.813.465
74.501.779
74.343.655
10.478.074
10.447,158
22,604,604
77,701,819
25
••••••••«
15
22
29
5..
Sept.
“
12
Deposits.
23.R 4,323
78.184.995
11
18
8.
L. Tenders.
77,951,080
78.180.840
Aug. 1
“
Loans.
$
75.349.4S6
77.864,707
77,740,554
78.297,882
78.600,948
79.014,473
79.149.422
79,999,128
80.431.769
81,192,498
22 868,929
22,498.600
21,917.747
21.423.972
20,080.392
20,077,783
20.003,030
10.470,009
Agg. Clear.
52.2U.653
55.429.648
62.579,080
09,077.948
10,408,727
55.580.970
01,329.568
75.136,754
10.319,870
10.282.771
50,871,080
60.750.855
74,510.055
76.008,800
74.01U.257
74,004.227
10,370,394
10.502.083
74,019,912
74,268.993
73.508.383
73,107,807
73.125,2 >1
73,019,093
10,325,587
49,338,805
48,443.957
51.840.759
10,515.478
44,048.755
10.595.423
10,588.971
10.007.735
10,845.126
48.449,196
47.663.482
43.S64.672
41,79),588
302
THE
CHRONICLE.
AND
STATE, CITf AND CORPORATION FINANCES.
The Investors’ Supplement contains a complete exhibit of the
'Funded Debt of States and Cities and of the Stocks and Bonds
of Railroads and other Companies.
It is published on the last
Saturday of every other month—viz., February, April, June,
August, October and December, and is furnished without extra
charge to aU regular subscribers of the Chronicle. Single copies
are sold at $2 per copy.
ANNUAL
,
REPORTS.
Northern Pacific Railroad.
souri Division amounted to 5,098 acres, the
average price ob¬
tained being $2 85, leaving still unsold 4,987,080 acres. On
the
Pacific Division the sales for the fiscal year were at an
average
of $3 15, and 8,393 acres of nearly all timbered lands were
sold.
There are still remaining unsold 2,691,606 acres. On the
Pend
d’Oreille Division 237,828 acres of land were sold,
$663,8S4 cash.
5,000,000
EARNINGS AND
Company
Thursday at the offices of the company, No. 82 Broad¬
way, and elected the following-named directors for the ensu¬
ing year: Frederick Billings, Ashbel H. Barney, John W.
Ellis, Rosewell G. Rolston, Robert Harris, Thomas F. Oakes,
Artemas H. Holmes and Henry Villard, all of New York ; J. L.
Stackpole, Elijah Smith and Benjamin P. Cheney, of Boston ;
John C. Bullitt of Philadelphia, and Henry E. Johnston of
Baltimore. There was a large attendance at the meeting, and
$61,000,000 of the $91,000,000 of capital stock voted. Charles
B. Wright, Hugh McCulloch and Joseph D. Potts, who were
members of the old board, declined re-election, and Messrs.
Stackpole. Smith and Johnston were selected to fill their
5laces.
board ofThomas
organized
The new
directors
electing
[enry Villard,
President;
F. Oakes,
First by
Vice-Presi¬
Wilkeson, Secretary.
struction purposes.
The earnings derived from commercial
business on this last named portion of the road are and have
been credited to construction account until such time as the
divisions are completed. The gross earnings of the
year
showed an increase over the previous year of $7G4,337.
Many
additions have been made in the equipment department
during
the year, and the company is now
operating 104 locomotives,
68 passenger cars, and 3,021 freight and stock cars.
Of the present and future construction the report
says :
M
The main line from Thomson Junction (near
Duluth) to a conaection with the Oregon Railway & Navigation
Company’s line
at Wallula Junction is 1,684 miles. Of this distance the fol¬
lowing is completed and in operation: On the
Thomson Junction to
eastern end,
a point twenty-five miles
beyond Glen¬
dive, in Montana, 668 miles; and on the western end, from Wal¬
lula Junction, in Washington Territory, to a point 200 miles
east thereof, 200 miles, a total of 868 miles,
leaving to be con¬
structed to complete the line between Lake Superior and the
Pacific coast 816 miles. The other portions of the main line to
be constructed are as follows: Wisconsin Division, from Thom¬
son J unction to the Montreal
River, 25 miles of which are under
construction, 122 miles; Wallula Junction to Portland, 288
miles; Portland to Kalama, 39 miles; Cascade Mountain
branch, 219 miles; a total of 618 miles.” It is stated that the
purpose of the company is at once to put under contract the
grading of the entire 816 miles of uncompleted line forming
ifae gap between the eastern and western portions of the
road, the
expectation being by the end of 1882 to
have track laid and trains running to a
point near Gallatin City,
a distance of 300 miles from the mouth of the
Rosebud, to which
point it is expected the road will be completed and trains run¬
ning by the middle of November next; and on the Pacific Coast
to complete and have trains
running from the mouth of Clark’s
Fork of the Columbia, 250 miles eastward to or
beyond Missoula,
leaving to be completed in 1883 about 300 miles. The greater
I»rt of the line between the mouth of the Rosebud and Gallatin
City is already under contract, and in Hell Gate Canon, just
east of Missoula, twenty-five miles are nearly
completed, ready
for the
ties and iron.
lowstone
EXPENSES.
1880.
1881.
$1,588,550
$2,207,289
636,479
5,445
Miscellaneous
Total
Operating
expenses
and rentals
:
$2,230,181
1,521,093
$2,994,519
2,025,390
$709,088
follows :
$909,129
Net
earnings
The income account for 1880-81 is
INCOME ACCOUNT
as
1880-81.
From passengers, express and mail..
From freight—Commercial
Construction
From miscellaneous
782,800
4,420
$1,878,556
4,420
Total income...
For operating expenses
For rentals and taxes
$1,795,553
Contracts for 1,000,000 ties for the Yel¬
$2,994,519
229,836— 2.025,390
$969,129
*26,052
Balance net earnings.
From dividends on investments
From interest received
Interest
$782,800
328,742— 2,207,299
sources
*215,330
.•
Samuel
The annual report shows that at the close of the
year ended
on June 30, 1881, the total
mileage of the road was 754, in ad¬
dition to which 311 miles were in operation principally for con¬
in
over
At the close of the year ending June 30, 1881, the
company
operated for business purposes only 32 miles more than in the
previous year, this increase from Casselton to Blanchard having
been opened in September, 1880. The comparative
earnings
and expenses were as follows:
on
dent*; Anthony J. Thomas, Second Vice-President, and
acres
bringing
There are still remaining on this division
of unsold land.
Freight
Passenger, &c
(For the year ending June 30,1881.)
The stockholders of the Northern Pacific Railroad
met
[YOL. XXXIII.
$1,210,511
t$833,739
paid and accrued.
*Crcdited to construction account.
f
iCliargcd to construction account until new road is turned over to
operating department.
The capital stock of the company was reduced
during the
past
by $1,1#0,0j6, that being the amount of preferred
year
stock which has been extinguished by the sales of lands in
Minnesota and Dakota east of the Missouri River.
There
remained outstanding on June 30, 1881, of
Preferred stock
Common stock
Total
$42,312,588
...
49,000,000
capital stock
Of the preferred stock above stated as
was in the treasury.
...$91,312,583
outstanding, $2,851,455
-
CONDENSED BALANCE SHEET JUNE
30, 1881.
Cr.
Railroad equipment, and lands, including lines under con¬
struction at par of securities
Cash in liauds of Treasurer and disbursing officers
General supplies, including construction material
Northern Pacilic RR. Co.’s stock and other investments..
Accounts receivable, including deferred payments on lands
Cash in hands of trustee for retirement of bonds, derived
from sales of land
Total
Capital Stock—
$108,324,280
11,567,944
2,082,947
3,846.856
975,440
206,330
$127,003,800
Dr.
Common
$49,000,000
Preferred
$51,000,000
Less canceled
8,687,411— 42,312,588—
Funded debt—
Missouri Division bonds
$2,484,300
Pend d’Oreille division bonds
3,915,000
General first mortgage gold bonds—
Sold
$91,312,588
$20,000,000
Undelivered
4,812,500— 15,187,500Audited vouchers unpaid (chiefly for construction)
Interest accrued on funded debt (mostly payable July 1,
21,586,800
883,889
1881)
proceeds of land sales in preferred stock, bonds, de¬
ferred payments and cash
;
Profit and loss, gen. balance Juno 30, ’80—$1,450,292
Balance earnings 1880-81
969,129
562,149
Net
Dividends
on
investments
10,212,899
2,445,473
26,052—
Total
$127,003,800
Pullman’s Palace Car Co.
(For the year ending July 31, 1881.)
The books of the company closed on September 3. On the
8th inst., at a stockholders’ meeting, it was voted to declare an
extra dividend of 1% per cent, payable September 20, to
stockholders of record September 3. It was also voted to allow
all stockholders of record September 3 the right to subscribe
Division, to be got out this winter, are about being let,
and the necessary ties required
along the Clark’s Fork have
already been contracted for. Fifty-five thousand tons of steel
rails have been purchased for next
year’s delivery, in addition pro rata for $2,000,000 of new stock at par. It is therefore
to the 64,000 tons purchased for this year’s
ordered by the Stock Exchange that all purchases of Pullman
delivery.
During the first six months of the fiscal year there were large Palace Car stock made on or previous to September 3, and not
sales of lands, chiefly sold at the rate then in force,
namely, delivered prior to the closing of the books, and purchases oi
$2 60 per acre. In the second half of the fiscal year the
policy stock from September 3 to September 10, inclusive, shall be
of the company in regard to its lands was
changed, and the entitled to the extra dividend of 1/6 per cent; also to the right
rates for land east of the Missouri River, where the
preferred of subscription to the new stock ; and that from and after this
stock of the company is received at
par in payment thereof, date all sales of said stock shall be ex-dividend and ex-rights.
was fixed at $4 per acre, with a rebate of 25
The anaual reports of this company are merely statistical
per cent for the
acreage cultivated within two years from the date of purchase. and contain no remarks in regard to the
operations or condition
West of the Missouri River and on the Pacific and Pend of the
company. The income account and balance sheet for
d’Oreille Divisions the rate of $2 60 cash per acre for
agricul¬ the past three years are compiled for the Chronicle as follows:
tural lands was
continued,
with the condition that of
less than 20 per cent should be
placed under cultivation within two years from date of
sale, title not to be given to purchaser unless this condition
was
complied with. On the Minnesota and Dakota Di¬
vision the sales for the year amounted to 588,080
acres, at an
average price of $2 59, which, with some other sales and mis¬
cellaneous receipts, shows the land business on that division
alone to have amounted to $1,805,368. There are still unsold
on this division
3,473,471 acres. The sales of lands on the Mis¬
each 320
acres
sold
INCOME ACCOUNT.
1879-80.
$
1880-81.
527,903
481,573
8,500
14,022
145,547
28,499
42,243
13,109
2,196,734
2,635,468
2,995,496
1878-79.
not
Revenue—
$
Earnings (leased lines included)
1,705,795
Proportion of earnings of other sleep¬
ing car associations controlled and
operated
453,940
Patent royalties and manufacturing
profits
.
Profit and loss, including
count and exchange
Total
revenue
S
2,051,300 2,355,267
interest, dis¬
Septembeb
THE
t7, 3881.]
1878-79.
Operating
expanses, including
$
$
610,310
636,777
768,310
164,542
139,134
175,499
157,917
25,696
179,136
132,600
261,000
471,056
264,000
1113,979
472,876
264,000
191,867
482,166
1,859,411
1,860,902
2,014,442
10,920
33,623
326,403
740,943
981,054
2.196,734
2,635,468
2,995,496
1879-90.
1880-81.
legal,
Re-building association cars
Rental of leased lines.
165,890
interest on bonds
Dividends on
capital stock
Total disbursements
Balance of account for rebuilding
and
remodeling cars into the latest stand-
ard Pullman car
Balance
to
1880-81.
$
general, taxes, and insurance (leased
lines included)
vW
Maintenance of upholstery and bed¬
ding (leased lines included)
Proportion of operating expenses, &y..
in cars of other sleeping-car associa¬
tions controlled and operated
Coupon
1879-80.
CHRONJCLE.
of surplus for the year carried '
credit of income account
BALANCE SHEET JULY 31.
1878-79.
Car?and
$
equipments, including fran¬
chises *
Car works at
Car works at
Detroit
Chicago, etc
—
Patents, United States and foreign
Farniture and fixtures
Real estate, &c., Chic. & St. Louis.
Invested In other car associations
controlled and operated
Stock owned
cost 8,542,302
345,824
“
“
“
“
“
“
161,383
8,588,614
364,469
230,126
184,383
63,361
63,656
22,002
22,002
2,379,623
2,440,621
2,491,904
22,500
280,887
138,409
167,754
718,879
335,176
1,454,356
282,387
87,157
-
Construction material and operating
supplies, including amount pai ’
.
.
.
Total assets
9,020,601
370,520
2,545,905
184,383
65,726
65,045
........12,104,545 L3,290,313 16,308,097
Liabilities—
$
5,938,200
Capital stock
Bonds outstanding
Received from sale of old cars leased
from Central Transportation Co
Balance of current accounts
2,010,000
$
5,990,200
2,476,000
419,014
419,003
Surplus, invested in the assets of the
company, less written off during the
yeart
3,737,331
Total liabilities
$
8,023,800
2,222,500
423,157
497,934
4,395,110
5,140,706
12,104,545 13,230,313 16,308,097
*464 cars in 1979; 472 in 1880; 502 in 1891.
t Written off-In 1879, $78,023; in IS30, $93,163; in
1831, $235,456.
GENERAL INVESTMENT NEWS.
Adirondack. -A
303
ties as payments are made. When this general
plan was adopted by the
company none of the consolidated bonds were listed at the
Exchange.
Last summer application was made for the admission of the bonds
then
.subscribed for, $3,475,000. The application was
granted. When new
and further subscriptions had been made the
listing of additional bonds
was applied for, but the
company was then confronted by a new rule of
the Exchange, to the effect that no
railway bonds should be listed
after its adoption except against
actually completed road at the
average rate per mile provided for in the mortgage.
*
*
*
However, the subscribers and all who take auy interest in the com¬
pany’s securities were informed of the condition brought about by tho
adoption of the new rule and that the high-numbered bonds would
meanwhile remain unlisted, and while
they were equally secured by tho
mortgage and had been countersigned by tho trustees iu strict con¬
formity therewith they would, under the new rule, only have the ad¬
vantage of a market at the Stock Exchange as the lines should bo com¬
pleted and tlie higher numbers admitted. * * * When the
remaining
mileage subscribed for is completed and the remaining subscribed bonds
issued, the total consolidated bonds (except those issued now or hereafter
against old bonds as canceled) will be for 1,125 miles, aud the amount.
$15,660,000, or at the average rate of $13,920 per mile of new road.
Whereas, under the terms of the mortgage, the company could issue on
account of road then completed, 1,462 miles
(including old
road)
$17,717,500
The
difference between this amount and the
15,660,000
J
I
To-wlt
$2,057,500
may be hereafter issued in the discretion of the trustees for the
purposes
of new tracks and other betterments on operated road.
As far as tho
company is concerned, it would he pleased to have all the bonds issued
to the subscribers listed at once at the Exchange; but this
being impossible,further application will be made to list bonds as soon as a round.
amount of $2,000,000 can be admitted, which requires 1,062 miles in all
to be completed. Yours respectfully,
William J. Palmer,
President.
East Tennessee Virginia & Georgia.—Col. E. W. Cole,
President of the East Tennessee Virginia & Georgia
Railroad
system, and Mr. C. P. Huntington, have signed an agreement
which secures for the Cole-Seney system of 1,400 miles a con¬
nection
which is
by
way of Knoxville with Cincinnati and the West,
claimed to be more
advantageous than by
Cincinnati Southern Railroad.
tion will be completed
by next
It is
way
expected that the
of the
connec¬
July.
Framingham & Lowell.—The Framingham & Lowell Rail¬
road was sold at public auction,
Sept. 10, at South Sudbury,
Mass.,
on an
execution issued in favor of the
Boston Clinton
Fitchburg & New Bedford Railroad Company for $379,129.
The
franchises and property were sold under and in pursuance
of the
provisions of chapter 170 ot the acts of the Massachu¬
Legislature of the current year, and subject to an existing
lease to the Boston Clinton
Fitchburg & New Bedford Railroad
Company, and to a first mortgage made to secure bonds to the
amount of $500,000. The only bidder was
Attorney-General
Marston, who, as acting agent of the Boston Clinton Fitchburg
& New Bedford Railroad, bought the road for $379,212.
Long Island Railroad.—Mr. Hinsdale, counsel for the Long
Island Railroad Company, made a motion before
Judge Gilbert
in the Kings County Supreme Court, this week, to
discharge
the Receiver of the road, Mr. Austin Corbin, and restore
it to its
corporate rights. Mr. Corbin, who is President of the road, con¬
curred in this motion, and asked that a referee be
appointed to
pass upon his accounts. The counsel said the road was in good
condition and the company had paid off nearly all its debts.
The Receiver had $70,000 on hand, $130,000 on
deposit and
$90,000 in outstanding certificates. The Judge reserved his
setts
dispatch from Saratoga, September 15,
“The Adirondack Railroad and the real estate belonging
to"the company, comprising wild lands in the counties of War¬
ren, Essex, Herkimer, Franklin, St. Lawrence and Hamilton,
were
put up for sale to-day. After reading a voluminous de¬
scription of the company’s land, railroad and franchise, the
Referee wras served with a Supreme Court order, issued
by
Judge Bockes, directing him, after receiving one bid, to adjourn
the sale until Thursday, September 29, at the same
place and
hour. William W. Durant bid $100,000, when the sale was decision.
postponed to date above named.”
Hannibal & St. Joseph.—Two suits were commenced to com¬
Columbus Hocking Talley & Toledo Railway.—A dispatch pel the officers of this company by mandamus to convert cer¬
from Columbus, 0., states that the stockholders of the Colum-> tain of the bonds into stock. One suit was transferred to the
bus Hocking Valley & Toledo Railway
met for the completion United States Circuit Court, and then postponed by consent;
of the legalities of consolidation, and elected a new board of the other came up for argument before Judge Davis in
directors consisting of John W. Ellis, of New York ; Stephen¬ the Supreme Court.
Mr. Goldman, the plaintiff, states in
son Burke, Charles Hickox, Charles G. Hickox and
his petition that he is the owner and holder of $10,000
W. J. Me
Kinnie, of Cleveland; C. H. Andrews, of Youngstown, and M. of Hannibal & St. Joseph preferred stock, recites the fact
M. Greene, of Columbus. The board of directors
of the refusal by the company to issue stock for Mr. Wil¬
organized son’s
with M. M. Greene, President;
bonds, and asserts that the fund required to be set
Stephenson Burke, VicePresident j W. M. Greene, Secretary ; T. H. Medary, Treasurer. aside to pay interest on these bonds, would, if the bonds were
Tlie line is now
operated in three divisions—the Lake Erie converted into common stock, as Mr. Wilson desired, be appli¬
Division, 124 miles, Hocking Valley Division, 118 miles, and cable fur the payment of a dividend on the company’s preferred
Ohio River Division, S3 miles ; total, 325
stock, including the shares held by him, and that the company’s
miles.
refusal
to convert these bonds was in violation of his
rights.
Bayton & South Eastern.—The Dayton & Southeastern
Railroad Company subscription is settled to-day, when sub¬ Gen. Swayne presented the application, admitting that it was
stipulated in the bonds that the owner might exchange them
scribers receive for the $9,500 they have advanced, $10,000
first
mortgage bonds, $5,000 second mortgage income bonds and for common stock on the 1st of March or September of any
100 shares of Toledo
were payable upon those
Delphos & Burlington stock. The last year. That -was because the coupons
20 per cent upon the Toledo
Cincinnati & St. Louis subscription aates, but time was not of the essence of the contract, and Mr.
has been called for
Wilson, having stipulated to surrender the coupons payable
payment Sept. 20.—Boston Transcript, next
March, was entitled to have his bonds converted, though
Sept. 14.
the request was not made until Sept. 7. Mr. Root, in reply,
Denver & Rio Grande.—There have appeared in the mar¬
argued that it would be unwise and unfair for the company to
ket bonds of this
company of higher numbers than those regis¬ override the provision in the bonds as to the dates when
they
tered at the Stock
Exchange. This gave rise to reports of an might be converted, even had the officials of the company the
over-issue of bonds, but these
reports were altogether unwar¬
ranted, and President Palmer addressed a letter to the Presi¬ power to do so. He contended further that there was no
power to convert the bonds since March 1, 1880.
The act of
dent of the
Exchange, from which the following is quoted:
1853 of the Missouri Legislature, under which the bonds were
impression is sought to be conveyed that in baving out issued, provided
expressly that the right to convert the prin¬
consontmeq bonds of higher numbers than those listed
at the Stock
jOjicnange this company in some way is chargeable with irregularity. cipal due into stock might be exercised “ at any time not ex¬
tha^01?Qpa!?y is engaged in building a network of lines to and through ceeding ten years from the date of the bond.” The bonds were
districts of Colorado and to a connection with the Denver dated March
1, 1870.
Gen. Swayne, in response, read the
it
^raude Western Railway in Utah. In the early part of last year words inserted in the body of each
bond, that it “ is convertible
i non J^mpieted 337 miles.
It now has practically completed over
thp Vo
which 933 miles are already in operation. In addition to into the capital stock of the company at par on any 1st day of
thm?Vo^i,000,mile8>4*>2 miles are under [construction, on which several March and September after the first day of July, 1871, until
TnntV^ni workmen are employed, and for which the rails, ties and other the 1st day of March, 1884,” and contended that the corpora¬
im *miioi8
-ve £een contracted. A large part of the expense of this rernainofp^in?-Ke ie already incurred and paid. When completed, the length tion was therefore estopped from setting up want of power,
kmtt with the aid of consolidated bonds will be 1.125 because of statutory inability.
huIah
Judge Davis reserved his
Tho mVV,.
i?^al mileage of the company, old and new, 1,462 miles, decision.
com nan,-Vf,
18 ’v'Iork: are provided by subscriptions to the railway
menta
^ oonds
stock, the subscribers agreeing to pay up in instal¬
Indianapolis Decatur & Springfield.—The following notica
ls Vo
as requiredand
says ;
*
by the
work and
being entitled to receive their
securi¬
is issued
:
THE CHRONICLE.
304
Tlie stockholders of the Indianapolis Decatur & Springfield Railway
Company are requested to meet at the company’s office, room 27, in
Fletcher & Sharpe’s block, in the city of Indianapolis, on the 17th day
of November, 1881, at 12 o’clock noon, to determine whether said com¬
pany shall, first, issue bonds to the amount of one million eight hundred
thousand dollars, bearing interest at six per cent per annum, and
execute a mortgage intended to be the first mortgage on said railroad,
to secure the same, in order to satisfy and extinguish the bonds out¬
standing under the present first mortgage of the company,.and for other
purposes; second, issue bonds to the amount of one million dollars,
bearing interest at five per cent per annum, and execute a mortgage
intended to be the second mortgage on said railroad, to secure the same,
in order to cancel and redeem the lirst ten coupons upon the bonds out¬
standing under the present second mortgage of the company, and for
other purposes; third, create and issue shares of preferred stock to the
amount of two millions eight hundred and fifty thousand dollars, to be
exchanged for or used in satisfaction of the principal of the bonds now
outstanding under the present second mortgage of the company; and to
transact any other business which may properly be brought before such
meeting.
By order of the board of directors,
A. Dcpkat,
Secretary.
Lake and Canal Kates in August.—The lowest rates ever
made on corn and wheat from Chicago to New York by lake
and canal were made in August, 1881. The average price for
wheat was 7‘2 cents per bushel and for corn 6*4 cents per
bushel. The Buffalo Commercial Advertiser of September 5
[VOL. XXXIII
connection with the railroad. The organization is for
ninetynine years. The railroad is to run from the City of
Guay mas
State of Sonora, to points on the Pacific coast mentioned in
the concession by Mexico to Francis De Gress,
representing
the International Railway Improvement Company, and to
General U. S. Grant, representing the Southern Mexican Rail¬
Company, and touching at such intermediate ports on the
as may seem advisable.
The terminal points are
Guaymas, Sonore, Tehuantepec and Oaxaca, passing through
the said States and the intermediate States of Sinaloa,
Jaslico,
Michoacan and Guerrero. The capital stock of the company
shall be $10,000,000, divided into 100,000 shares of the par value
of $100 each.. The office of the company shall be in New York.
The following are the directors : Henry Sanford, Gardiner
way
Pacific coast
Witherbee, William R. Garrison and James B. Hawes, of New
York; John B. Frisbie of Mexico, and Isaac E. Gates and Rich¬
ard T. Colburn of Elizabeth, N. J. The articles of incorporation
were submitted to the Governor,
according to the law, and
approved by him.
Minnesota State Bonds.—At St. Paul, Minn., Sept. 10, the
Supreme Court rendered a unanimous decision in which they
principal questions in regard to the Minnesota State
says: The condition of affairs along the great water route railway bonds. First, they hold that the
question presented to
was nearly as bad during the month of August as was possible
them is, primarily^ whether a writ of prohibition can restrain
and have" any boats moving. The demand for tonnage was the tribunal created
by the law of last winter from action.
light, and the competition of the railways was as severe as it They say they are first met by the objection that the act of
had been during the preceding month. The average by lake rlast winter is void
because the constitutional amendment of
last month was lower than for any corresponding month since
1860, declaring that no provision shall ever be made for the
1876, and lower by canal than ever before in August. The fol¬
payment of the State railway bonds without a submission to
lowing exhibit, showing the average freight on wheat and corn the people, prohibited the Legislature from passing the act in
from Chicago to Buffalo by lake, and the average on the same
question, which was a measure making provision for the pay¬
cereals from Buffalo to New York by canal, for August in the ment. The
validity of the amendment of 1860 is thus directly
years named, tells its own story of depression :
involved. If valid, it withdrew from the Legislature the power
Lake.
.—Canal.—
Lake.
,—Canal—- to make provision
for the payment of the bonds, while if void,
Wheat. Corn.
Wheat. Corn.
Wheat. Corn.
Wheat. Corn.
of course it could interpose no obstruction. The following is
Cts.
Cts.
Cts.
Year.
Cts.
Cts.
Tear.
Cts.
Cts.
Cts.
the syllabus of the decision :
31
4-1
1881.
2-8
3*6
1875.... 25
2*2
8-1 '
73
s
,
settle two
*
...
1880.
1879.
5-1
4-5
30
3-6
4 9
1878.
3*2
1877. ...40
1876.
2-2
...
...
1-8
...
5-9
65
5-2
70
5-8
ft *4
59
4-6
6-4
53
1874....
1873....
1872....
1871....
1870....
31
6-5
9-6
6'2
5 0
2*1
5 6
8*8
5-7
4-7
90
10-6
12-0
11-8
94
8-0
9o
11 0
10-8
9*2
1. That the constitutional amendment of Nov. 6, 1860, pro¬
viding that no law levying a tax for making other provisions
for the payment of interest or principal of the bonds denomi¬
nated “ Minnesota State Railroad Bonds” shall take effect or be
in force until such law shall have been submitted to a vote of
the people, and adopted by a majority of the electors of the
State voting on the same, is invalid for the reason that it
Manhattan—New York Elevated.—At Kingston, N. 1"., on
September 14, the case of the New York Elevated Railroad
Company against the Manhattan Railway Company, on a peti¬
tion to "show cause why its property should not be restored to impairs the obligations of those bonds.
2. That the act of March 2,1881, is unconstitutional and void,
it, was called in the Supreme Court, Chambers, before Justice T.
because
it delegates legislative powers to the tribunal created
Westbrook.
R.
Mr. Bacon, in behalf of the petitioner, opened the motion by by it.
3. That a writ of prohibition should issue.
reading the allegations and complaint and numerous support¬
The act of March 2 is that by which the Legislature accepted
ing affidavits of President Field and other prominent persons
connected with the control and management of the various the proposition of the bondholders to take 50 cents on the
elevated roads in New York. The petitioning company alleges dollar, and appointed a tribunal to decide the legality of this
that the Manhattan Railway Company was indebted to it to the scheme of payment. Application was made to the Supreme
amount of $465,000 on the first day of July last—$162,500 for Court for an injunction to prevent this tribunal from sitting.
dividend rental and $297,500 for interest on the first mortgage The decision is claimed as a victory for the debt-paying party,
bond sof the New York Company. It also appears that the les¬ although it defeats the present plan of settlement, because
it virtually empowers the Legislature to pay the bonds without
sees are in default for not paying taxes assessed upon the New
to the people.
submission
York Company for the years" 1879 and 1880 as by the terms of
the lease. The structures and rolling stock have been allowed
Missouri Pacific.—The following is a quarterly statement
to depreciate in value and condition in violation of the terms of from this
company, July 1 to September 30, inclusive, Sep¬
the
tripartite agreement and leases. Several engines have tember being estimated :
been sold and neitheir accounted for to the New York company
replaced by others.
On these, and other grounds, the peti¬
tioner now asks for a full restoration of its property.
Mr. Bacon was followed by Mr. Davies, of the counsel for the
Manhattan'company, who read at some length the opposing
nor
papers
and affidavits in denial of the allegations charged.
defendant
denies that it is
a
or
has been insolvent, and
general denial of most of the charges set forth.
The
interposes
Such
answer
is substantiated by the affidavit of President Galloway and the
affidavits of leading officers of the Manhattan road.
The argument was finished on Thursday, and an early deci¬
sion was promised by Judge Westbrook.
Gross earnings.
July
August
September
$5dS,506
698,377
700,000
Expenses.
$284,4GO
349,188
350,000
Net earnings.
$284,046
Totals
$1,966,884
$983,649
Add dividend $250 per share on Pacific Railway Improve¬
ment Company stock owned by tlie company
Total
:
Interest, leases and taxes, three months
349,188
350,000
$983,234
941,250
$1,924,484
382,775
-
Marietta & Cincinnati.—At Chillicothe, on Sept. 8, before
the Ross County Court, in the foreclosure proceedings of Keyser
and Garrett against the Marietta & Cincinnati Railroad, a motion
made
the part
of the Baltimore & Ohio people for the
appointment of a receiver in the place of Jonn King, Jr.,
resigned. The Baltimore & Ohio people were represented by
Mr. Cowen and other counsel, and urged the appointment of
Mr. Stewart, the present Superintendent of the Marietta road
under King, Receiver. This appointment was very sharply
opposed by counsel for the Bondholders’ Committee and the
trustees of the respective mortgages. The Court decided that
it would not appoint Mr. Stewart, and stated that the Baltimore
& Ohio interest must agree with the opposing counsel upon a
nominee, or that it would itself appoint.
was
on
Mexican Pacific.—At Albany, Sept. 6, articles of incorpora¬
tion of the Mexican Pacific
office of the
pany are
Railway Company
were
filed in the
Secretary of State. The incorporators of the com¬
John B. Fnsbie, Isaac E. Gates, William C. Emery,
Richard T. Colburn, Edward H. Pardee, James B. Hawes, F. H.
Davis, Henry Sanford, Gardiner Witherbee and James E.
Wheeler. The company is formed for the purpose of construct¬
ing, maintaining and operating, in the Republic of Mexico,
pursuant to a concession by that country to General John B.
Frisbie, June 22,1881, a railroad and a line or lines of telegraph
aloDg such line of railroad, and to connect with such other
lines as may be deemed advisable; also such lines of steamboats
or sailing vessels as
may be proper or convenient for use in
Balance
Dividend 183 per cent on
Surplus carried
over
$29,567,600 stock
for the quarter
$1,541,709
446,074
$1,095,635
Nashville Chattanooga & St. Louis.—At Nashville, Tenn.,
a meeting of the stockholders of this company, a
semi-annual dividend of 3 per cent was declared, payable on
October 1, the transfer books closing on Sept. 20. This meeting
was a consummation of an agreement made in New York
between the majority and minority stockholders, resulting in
the election of three gentlemen to represent the minority
Sept. 14, at
stockholders, the new directors being Henry Earle of New
York, A. S. Colgar and Thomas O’Conner of Nashville. Pend¬
ing suits brought by the minority stockholders were amicably
adjusted and dismissed.
Ohio &
Mississippi.—At Cincinnati, O., September 12, Jus¬
tice Matthews heard argument on the petition of Thomas W.
Pearsall and Henry G. Chapman, of New York, asking that a
receiver be appointed for the Ohio & Mississippi Railroad in
place of John King, Jr. Mr. Harrison, on behalf of Mr. King,
produced the original of a telegraphic letter sent by Mr. King
to Judge Drummond referring to this petition, and saying that
as he considered the petition raised grave charges against his
administration of the office of receiver, and as he had received
his appointment from Judge Drummond, he would now ask to
withdraw his resignation as receiver and ask an early and
exhaustive investigation of his administration. Judge Mat¬
thews said this letter took the case out of court, as Mr. King
certainly had
a
right to withdraw his resignation and ask an
September
THE CHRONICLE.
17, 1881.J
Investigation. The petition was therefore withdrawn, and the
court adjourned.
Republican Talley.—The directors of the Chicago Burling¬
Quincy have issued a circular to the holders of the de¬
ferred stock of the Republican Talley Railroad Company, in
ton &
which they say:
of consolidation of tlie Burlington & Missouri Hirer Kailin Nebraska with the Chicago Burlington and Quincy
Railroad Company provided that on January 1, 1885, the deferred
shares of the Republican Valley Railroad Company should become ex¬
changeable for Chicago Burlington & Quincy Railroad shares, but should
not be entitled to dividends until that date. Somer discussion has taken
nlaee and there is ground for dift'erence of opinion as to whether tliis
stock ought, under the contract, to share in certain extra dividends that
might accrue under certain circumstances to holders of Chicago Burling¬
ton «fe Quincy shares, should any such be made prior to January 1,1885.
To remove any ground for dispute between interests so nearly allied, it
has been thought best by the board of directors of the Chicago Burling¬
ton & Quincy Railroad Company to endeavor to procure an exchange of
such deferred shares for the regular shares of the Chicago Burlington &
Tlie terms
road Company
auincy Railroad Company, if the holders are willing to make such ex-
”
uiuge upon equitable terms. This course is rendered desirable at the
present time by the probability that within a few weeks the Chicago
Burlington & Quincy Railroad Company will offer to its shareholders
lights of subscription which will have a considerable value. After con¬
sultation with several of the largo holders of Republican Valley Railroad
deferred stock, the committee of the board to whom the subject was refeiTed has fixed upon the proportion of three to four as beingjust, under
nil the circumstances of the case, and the Chicago Burlington &
Quincy
Railroad Company will accordingly issue, on and after the opening of
its transfer books the 19th instant, and until October 15, 1881, three of
its fully-paid shares in exchange for four shares of the Republican Valley
Railroad Company deferred stock, the new shares to bo at once entitled
to all rights that may accrue upon other Chicago Burlington & Quincy
eliares. Scrip will be issued for fractional parts of shares convertible
iuto stock when presented in sums of $100. This otter will remain
open
for acceptance until October 15. 1881, and no longer.
Richmond &
Alleghany—Ohio Central.—Messrs. R. H.
Maury & Co., of Richmond, in their circular of Sept. 10, give
the following:
“We understand that the work is being rapidly pushed for¬
ward from Charleston to the Ohio River, and that trial lines
being run up the Kanawha and New rivers. It is positively
denied that any arrangements have yet been made with the
Chesapeake & Ohio for the use of its track to Williamson’s,
and it is generally believed now that none such will be made.
are
The following may prove interesting to some of our readers.
It is authentic.
By the contract of consolidation between the
Richmond & Alleghany, the Ohio Central and the Atlantic &
Northwest., the three are consolidated into one line—from Rich¬
mond to Toledo—called the Richmond Alleghany & Ohio RR. Co.
The Richmond & Alleghany is completed from Richmond to
Williamson’s, say 230 miles, having $5,000,000 stock and $5,000,000 bonds. The Ohio Central, to run from Toledo to Point
Pleasant, is completed, say 230 miles, having $12,000,000 stock
and $8,400,000 bonds.
The Atlantic & Northwestern, which
is to connect the two, has no existence save on
paper.
Upon
consolidation the Richmond & Alleghany stockholders,
upon
surrender of their stock, will receive from the new
company
$6,000,000 of new stock and a bonus of $4,000,000 of 7 per cent
income bonds of the new company. There will also be set
apart of the bonds of the new company enough to retire or
purchase the $5,000,000 bonds now outstanding of the Richmond
& Alleghany. In like manner the Ohio Central stockholders
will receive in exchange for their $12,000,000 of stock
$15,000,000 of stock of the new
company, and provision will also be
made to retire or purchase their $8,400,000 of bonds. The At¬
lantic & Northwestern stockholders receive $6,000,000 of new
stock and $200,000 bonds of the. new
company. The new com¬
pany is to have $35,000,000 of stock, of which $21,600,000 is
issued to the divisional companies as above stated; is to issue
$4,200,000 of bonds as above, by way of bonus to the Richmond
& Alleghany and the Atlantic & Northwestern; also issue
enough to provide for the existing bonds of the Richmond &
Alleghany and the Ohio Central, which amount to $13,400,000
(which it is presumed will not be exchanged equally for the
new bonds, as
they will be part of a much larger mortgage),
and
also
a
farther amount of bonds sufficient to raise funds to
complete, equip and operate the entire line.”
Wabash St. Louis & Pacific.—The executive committee of
the Wabash St. Louis & Pacific Railroad
Company have
authorized the opening of a transfer office and registry in Lon¬
don. The office will be
opened as soon as the certificates can
be engraved, which will be in from four to six weeks,
and the
Great Western Railway
Company will act as transfer agent and
the London Joint Stock Bank as
Registrar.
305
Construction
$204,732
Telegraph stocks, &c...
Leaves
216,063— 2,947,584
.
surplus July 1,1881, of
$127,258
This surplus does not include the cash turned over
by the
American Union Telegraph Company,
amounting to $238,000 ;
nor does it include the new material turned over
by that com¬
pany, and which cost about $225,000, which items are held for
payment of liabilities of that company until the final balance
shall be ascertained.
a
1881.
The net revenues for the quarter
ending September 30, Inst.,
based upon official returns for
July, nearly complete
returns for August, and estimating tlie business for
Septem¬
ber, will bo about
$1,949,894
Add surplus, July 1, as above
127,258
$2,077,153
From which appropriating for—
Interest on bonded debt
.$107,000
Construction and purchase of telegraph stocks &
properties
300,000
20,000
Siukiug funds
Leaves
a
427,000
balance of
$1,650,153
It requires for the payment of a dividend of
l1^ per cent on
the capital stock
1,200,000
Deduoting which, leaves
a
surplus, after paying dividend, of.
In view of the
mend a quarterly
$150,153
preceding statements, the committee recom¬
dividend of 1% per cent.
—Ip. regard to the reports that receipts from other sources
than earnings wTere included in the “net revenues” for thequarter, Dr. Norvin Green, President of the company, said to*
Worldreporter:
a
“
The revenues of tlie 'Western Union
Telegraph Company are mainly
derived from its earnings in the transmission of
messages, and from this
source alone the net income for the
present quarter will be considerably
over 2 per cent on its
capital stock above interest and sinking fund
charges; but tlie company has other sources of revenue—from
dividends
on stocks in other
companies, rentals of offices in its buildings, &c. The
Gold & Stock Telegraph Company, in which the Western
Union Tele¬
graph Company is a very large stockholder, had accumulated from the
great appreciation of its telephone interests and royalties thereon a sum
which justified the declaration by that
which was paid in stock, capitalizing the company of a large dividend,
largely-increased plant of that
company.
This extraordinary dividend was as much a revenue to this
company as it was to any other individual stockholder, and as much a
revenue as the cash dividends derived from the same
company, which
have beeu from time to time greater or less
according to its ability to
pay.
This
to
make
having,
company
heavy
in
addition
to
paying
dividends,
outlays for
and
purchase
construction
of
and properties and stocks
in
other companies
it was desirable to control, decided to sell a
portion of the stocks so
received as dividends and place the proceeds in the
treasury. The sum
realized was $400,000, about equal to the sum applied
during the same
quarter to the construction and purchase of new properties. The sale
telegraph
lines
was not
necessary for tlie purpose of meeting tlie
after paying for new properties and dividends the
dividend,
as even
surplus cash in tlie
than $600,000.
This company still owns
more stock
in the Gold & Stock
Telegraph Company and worth
very considerably more money at its market value than as stated
in the last annual report. It is not true that the
company has used any
portion of the surplus as testified to iu the trial of the injunction cases.
It has only used a portion of the accumulations and
revenues thereon.
The items of both Gold & Stock
Telegraph Company’s stock and stock
of the International Ocean
Telegraph Company now held by the Western
Union Telegraph Company, are much greater in number of
shares, and
have a larger market value, than the cost value, at which
they appear in
the statements, or than the value
they had at the time of taking up the
American Union Telegraph Company, or even at the time of trial of the
injunction cases.”
treasury will bo
more
—The attention of cotton planters and
buyers, and also of
purchasers for export to Europe, is called to the card of the old
and well-known firm of Messrs.
Robert Tannahill & Co. in
established in
July, 1865,
under the name of T. Mcllwaine & Co., and continued
till 1870,
when the style was changed to Murrell &
Tannahill; but id
1874 Mr. Murrell retired and the
style was changed to that of
Robert Tannahill & Co. This firm is favorably known in the
to-day’s Chronicle.
This house
was
trade, and in the regular course of business they make liberal
on spot cotton and
give personal attention to the sale
of same, and are also buyers of cotton for export.
advances
—Parties having mone y they wish to invest in profitable enter¬
prises are invited by the advertisers to notice the advertisement
in to-day's Chronicle headed “Capital.” The
labor-saving
machinery referred to therein is now, and has been for some
years, in operation in this city, and can therefore be thoroughly
examined.
—Mr. Chas. A. Hills, Chamberlain of the
city of Albany, has
Western Union Telegraph.—The preliminary report for the issued a handsome little volume in cloth binding, showing the
quarter ending September 30, 1881, is just out, and contains bonded debt of that city. It also gives, in tabular form, a
statement of assessed valuations, amount of tax levied, and rate
the revised figures for last
quarter as well as the usual approx¬
imation for the present quarter. Any comparison with last of taxation per $100, from 1846 to 1881.
year’s figures is of little use, since the company’s circum¬
—The East Tennessee Virginia & Georgia Railroad Company
stances have so greatly
changed, and each report will now gives notice that 3 per cent will be paid Oct. 1, 1881, on the
stand by itself until we come into 1882 and have
comparisons income bonds of this company, at the Metropolitan National
with 1881.
Bank, New York.
The official returns for the
quarter
ended
June
30
showred
—Attention is called to the semi-annual dividend of 3 per
the net revenues to be
$1,842,844, or $6,453 more than the esti¬ cent declared
mate published.
by the Dubuque & Sioux City Railroad Company,
tn office of Messrs. Jesup, Paton &
The following revised statement, based
payable Oct. 15, 1881, at the
upon complete
returns, will show the condition of the company at the close of Co., this city.
the quarter ended June
—A dividend of 30 cents per share has been declared for
30,1S81 :
Surplus April 1, 1881, as per last quarterly report
$1,231,998 August by the Homestake Mining Company, payable at Wells,
■Net
revenues, quarter ended June 30 1881
1,842,844 Fargo & Co’s., on the 26th insb.
Transfer books close on the
From which
lwo
dividends
interest
on
of
l^ p.
c.
bonded debt
sinking funds
$3,071,812
deducting appropriations for—
each
on
capital stock.$2,400,OOO
106,788
20,000
20th.
—Wells, Fargo & Co. will pay on the 20th inst. a dividend of
$30,000 (for the month of August) to the holders of the Deadwood-Terra Mining Shares. Transfer books closed on the 15th.
306
THE CHRONICLE
[VOL. XXXIII.
t
COTTON.
■ghe Commercial ^imes.
COMMERCIAL
EPITOME.
Friday Night,
The weather has been
September 16,1881.
seasonable, and the fall of rain
in nearly all sections of the country has been of great benefit,
checking the forest fires and improving crop prospects. These
circumstances have given a great impetus to the autumn trade,
and business is quite active in a general way, but without any
.special feature of moment. President Garfield has made but
slow progress towards con vales jence, and his condition is still
such as to cause great anxiety.
The speculation in provisions has latterly fallen off some¬
what. Prices have consequently declined, and yet at the close
the feeling was one of more steadiness, occasioned by a similar
state of afiairs at the West, and the absence here of legitimate
demands. Pork was quoted on the spot at $19 75; September
and October contracts at $19@$19 75; November sold at $19 20.
Bacon is held at 11c. for long, and ll%c. for short clear,
with the offerings very moderate. Beef has sold better for
Beef hams
export at $21 50@$23 50 for extra India mess.
remain quiet at $22@$23. Lard opened to-day with a decline
of 10@15c. per 100 lbs. This was subsequently recovered, only
to have the close marked by weakness and
irregularity. Prime
Western sold on the spot at 12*37^c.; September sold at
12*32^c; October, 12*40@12,27/£@12*35c; November, 12‘45@
12*50c.; December, 12‘50@12-60c.; seller year, 12*30@12,32%c.;
January, 12-77^@12*70@12*75c.; March, 12 85c.; April, 12-90c.;
refined to the Continent, 12*85c. Cheese steady at 12@12%c. for
good to choice factory. Tallow strong at 8^@8%c. Stearine
jsold in lots at 13%c. for choice city. Butter quiet and less
more
Friday, P. M.. September 16, 1881.
The Movement of the Crop, as indicated by our
telegrams
from the South to-night, is given below. For the week
ending
this evening (Sept 16), the total receipts have reached
92.052
bales, against 70,812 bales last week, 46,722 bales the previous
week and 35,078 bales three weeks since; making the
total
receipts since the 1st of September, 1881,178,928 bales, against
185,030 bales for the same period of 1880, showing a decrease
since September 1, 1881, of 6,102 bales.
Mon.
Sat.
Receipts at—
Galveston
•
Indianola, &c.
Mobile
2,268
3,021
315
892
Wed.
1,40S
....
2,800
....
quiet and irregular latterly; the poorer
grades have been weak, while fair and grades above have been
pretty steadily held. The receipts have been large of late, how¬
ever, and the market closed dull for all grades; fair cargoes
nominally ll^@12Mc. for new and old crop. Mild coffee has
been very quiet, partly owing to the small stock, though jobbers
have judged it politic to purchase sparingly at what they have
regarded as rather high quotations, and to await larger receipts
before proceeding further. Rice has been quiet but steady.
Spices nave been dull. Tea has ruled about steady. Raw
sugar has been active at an advance to 7 13-16@8c. for fair to
good refining and 8%@8 ll-16c. for 95 degrees*test centrifugal.
Refined has sold freely, and has advanced to 103^c. for granu¬
lated, 10%@10^c. for powdered and 10%c. for crushed.
Kentucky tobacco was quiet; sales for the week 436 hhds.,
of which 359 for home consumption. Prices are very firm ;
lugs 6/4@8c., and leaf 8M@15c. Seed leaf more active ; sales
cases
for the week,
as
follows
1,700
1880 crop,
150 cases 1879 crop, do.,
:
cases
2,042
....
5,186
1,270
....
4,106
4,727
Savannah
Brunsw’k, &c.
....
....
Royal, &c.
Wilmington....
Pt.
Moreh’d C.,<fcc
651
3,263
4,654
89
Cf)
OXJ
3,378
23,113
City Point,&c.
3,083
....
....
1,549
1,312
....
....
....
....
105
747
316
720
....
....
1,599
....
....
....
2,229
660
563
....
....
16,195
660
18,369
592
1,620
Norfolk
3,624
3,651
4,105
2,756
Total,
818
....
1,582
1,825
Charleston
3,714
Fri.
3,425-
....
1,686
1,874
652
652
2,249
11,273
4
4
668
3,148
13
13
1,524
10,838
725
725
....
....
....
New York
62
24
228
178
122
44
658
Boston
30
31
204
39
165
146
615
459
32
SI
27
2
45
629
117
14,674 10,870 19,062
92,052
Baltimore
34
Philadelp’a, &c.
Totals this week
.4
23
13,054 16,595 17,797
13
For comparison, we give the following table showing the week’s
total receipts,
and the
same
the total since Sept. 1,1881, and the stocks to-night
periods of last year.
items for the corresponding
1881.
Rio coffee has been
Thurs.
Florida
firm.
5,052
4,746
1,575
....
New Orleans...
Tucs.
Receipts to
September 16.
Since
This
Sep.
1,1881.
Week.
Galveston
Indianola, &c..
New Orleans
Mobile
Brunswick, &e.
Charleston
1,1880.
18,S20
18,369
4,954
1,965
34,508
9,661
9,373
89
89
44
72
23,113
48,981
31,872
56,285
652
693
465
465
19,351
19,403
•
2,778
1881.
1880.
33,778 46,605
1,861
18,069 105,646
7,655
7,915
24,122
34,716
4,592
31,775
35,681
35,218
11,618
21,804
2,474
3,532
4
4
3,118
4,456
3,196
5,879
13
42
Cl
74
10,838
12,041
18,239
3,272
4,472
8,035
53
77,660
4,295
1,540
3,201
47,008
3,964
2,828
1,742
725
1C,305
2,090
New York
658
835
Boston
615
781
City Point, &c.
Week.
36,775
11,273
Norfolk
Since Sep.
6G0
Port
Royal, &c.
Wilmington
M’head City,&c
Stock.
This
1G,195
Florida
Savannah
1880.
2,525
1,213
2,300
......
......
Pennsylvania, assorted lots, ll}£@22c.;
Baltimore
629
502
604
2,153
16@35c.; 1,600 cases 1880 crop, New England, seconds, 12^c.,
117
239
402
Philadelphia,
&c.
1,206
Housatonic assorted 20 @23c., and Hartford County wrappers
Total
92,052
18@30c.; 312 cases 1880 crop, State, 5/£@6/£c.; also 7c. for low
178,928 102.695
185,030 297,207 188,074
and fair assorted Onondago, and 14c. for wrappers ; 700 cases
In order that comparison may be made with other years, we
1880 crop of Ohio fillers, 5c., assorted 6%@7c., and
wrappers 10 give below the totals at leading poits tor six seasons.
@15c.; 400 cases 1880 crop, Wisconsin seed leaf and Spanish, 5@
1880.
1879.
1878.
1877.
1876.
15c., and 100 cases sundries 6@20c.
Spanish tobacco more Receipts at— 1881.
active, and sales are 1,800 bales Havana, at 90@95c. for Partido, Galvest’n.&c.
16.855
18,820
15,674
19,592
2,164
11,772
90@95c. for Remedios, and $1@$1 20 for Vuelta Abajo.
New Orleans.
18,369
9,373
10,828
5,058
2,733
12,386
The report of the Agricultural Bureau at Washington for
Mobile
2,778
4,954
3,212
2,702
1,670
4,630
Sept. 1, says : “ The returns from correspondents give a very Savannah.... 23,113 31,872 24,034 25,043
12,404
8,924
serious decline in the prospect for a crop, being some 20 per
ChaiTst'n, <fcc
11,277
19,403
12,342
15,315
11,876
4,591
cent less than a month since.
With the exceptions of the
3,321
3,161
3,257
572
Wilm’gt’n, <fec
2,088
1,879
States north of the Delaware River, and Wisconsin in the
Norfolk, &g..
14,566
11,563
4,502
3,850
681
6,999
West, the universal complaint is drought. Kentucky and All others....
707
2,626
2,760
1.052
3,020
1,010
Illinois each report but little over half a crop, while Tennessee
and Missouri report less than twe-thirds. '1 he average for the
Tot.thie w’k.
92,052 102,695
76,933
74,355
62,998
22,315
•whole country is only sixty-five, against eighty-five last month
Since Sept. 1.
178.928 185,030 120,907
147,594
39,943 126,090
and eighty-four at the same date las' year.” The report of the
Galvecton includes Indianola; Charleston includes Port Royal, <fcc.;
Commissioner of Agriculture for Kentucky, of the same date,
says: “The rains have worked a marvellous change in tobacco. Wilmington includes Morehead City, &c.; Norfolk includes City Point. &c
The exports for the week ending this evening reach a total
The crop, however, in any event cannot but be light and in¬
of 29,515 bales, of which 26,540 were to Great Britain, 246 to
ferior. So far the indications are not favorable for a large
fall
crop of grass. It is time enough yet, if blessed with abundant France and 2,729 to rest of the Continent, while the stocks as
made up this evening are now 297,207 bales. Below are the
rainfalls, for a full crop to be grown.”
Naval stores have been somewhat irregular. Rosins have exports for the week and since September 1,1881.
advanced and sell freely at $2 37/6 for good strained, while
Week Ending Sept. 16.
From Sept. 1.1881. to Sept. 16,1831.
spirits turpentine, under the pressure of liberal offerings, has
Exported to—
Exported to—
Exports
declined to 51/6@51%c. in yard. Petroleum has also declined
Great
Conti¬ Total
Great
Conti¬
from—
under lessened export orders; refined, in barrels, 8c. Crude
Total
France
Brit'n- France
nent.
Week.
Britain.
nent,
certificates closed lower at 93/2C. bid. A good speculation has
5,841
5,342
5,342
5,342
taken place and at one time $1 was freely paid. Ingot copper Galveston
4,300
New
Orleans..
4.3C0
closed higher at 18c., after large sales at 17%(a)17/ic. Lead
has advanced, and sold liberally at 4*95@5c., closing at 5Mc. Mobile
Florida
Hops are quiet and without particular interest. Wool has been 8avannah
14,960
14,960
in continued demand at full, firm prices.
Charleston*...
Ocean freights have been only moderately active, but rates Wilmington...
have somewhat improved. Tonnage is in ample supply. To¬
0.718
0,718
6,718
6,7! 8
20,430
246
12,098
20.067
455
5.917
2,583 14,927
day grain to Liverpool by steam, 3/6d.; bacon, 20@22s. 6d.; New York
1,846
604
601
1,846
cheese, 25s,; flour, 103.; grain to London by steam, 5^6d.; do. to Rost,(in
146
6,943
Baltimore
146
1,778
1,924
6,797
Glasgow by steam quoted 3d.; do. to Hull by steam, taken at
1,775
1,775
4^6d .; do. to Antwerp by steam, 3?6@4d.; do. to Cork for Philadelp’a,&c
08,323
246
453
orders, by sail, quoted 4s. 6d.; do. by steamers, 4s. per qr.; do.
Total
6/63
26,540
2,729 29,515
67,805
taken to Malpas by sail, 4s. 3d.; crude petroleum to Havre,
97,907
2,516
Total 1880...
1.296 51,726
84.794
39,942 10.488
10,687
3s. 6d.; do. in cases to Alicante, 22c. Naphtha to
Blaze, 3s. 9d.
•Includes export* from Port Royal, &e
•
•
•
•
•
..
...
......
•
•
THE CHRONICLE.
i88i.i
sejtsmbir 17,
307 1
Iu addition to above exports, our telegrams to-night also give
the following amounts of cotton on shipboard, not cleared, at
the ports named. We add similar figures for New York, which
are prepared for our special use by Messrs. Carey, Yale &
ns
Lambert. 60 Beaver Street.
On
Sept. 16, at—
Great
Britain.
Fi'ance.
1,707
305
839
None.
None.
300
None.
3,200
None.
None.
None.
None.
None.
None.
48,550
1,707
Charleston
Savannah
Galveston
New York
Other ports
Included in this amount there
are
Leaving
Coast¬
wise.
1,C00
1,050
7,100
8,927
4,500
Total
Other
Foreign
22,773
Few Orleans......
*
Shipboard, not cleared—for
*
150
Total.
Slock.
25,624
1,000
1,200
60,022
6,915
10,418
21,375
34,417
921
300
3,000
2,340
None.
10,400
None.
‘6,300
1,100
71,360
4,300
11,688
1,826
7,429
61,012
236,195
1,500 bales
at
12,188
presses for
foreign
destination of which we cannot learn.
The speculation in cotton for future delivery was quite active
during the week under review, and fluctuations in prices were
ports, the
Saturday last there
very wide. On
but on Monday,
was an irregular advance,
Tuesday and Wednesday there were heavy sales<
by " outsiders,” who desired to realize profits and withdraw en¬
tirely from the speculations, and under these sales, supple¬
mented by weak accounts from Great Britain and
improved
crop prospects, prices gave way 53@60 points. But on Thurs¬
day the comparative steadiness with which Liverpool met our
decline discouraged the bear party that had been
forming;
there was consequently some demand to cover
contracts, and
when the unfavorable Bureau report was made
public, the market
became very buoyant, except for September and
October, these
advancing only about half as much as the later de_
liveries. To-day there was great activity, with much excitement
and wide fluctuations, but generally a lower
range of values.
Cotton on the spot declined l-16c. on Saturday and
Monday and
34c. on Tuesday, Wednesday and Thursday. There was early
in the week more doing for export, with a fair business for home
consumption. But yesterday the market was very dull, although
new cotton was offered from the wharves at
%@%c under the
nominal quotations.
To-day there was a further decline of %c.,
making ysc. for the week, and carrying middling uplands down
to
months
1234c.
The total sales for forward
delivery for the week are
bales. For immediate delivery the total sales foot
up
1,033,100
this week
5,0^2 bales, including 1,513 for export, 3,151 for
consumption,
358 for speculation and — in transit.
Of the above, 800 bales
were to arrive.
The following are the official
quotations and
sales for each day of the past week.
UPLANDS.
Sept. 10 to
Sept. 16.
Sat. • Moil Tnei Sat.
!
Ordin’y.$lb
9%
9%
Strict Ord..
Good Ord..
Str. G’d Ord
Low Midd’g
Str.L’w Mid
101315
113a
1218
12%
Middling... 12H16
Good Mid..
Str. G’d Mid
Midd’g Fair
Fair
NEW ORLEANS.
13iie
13516
9316
9%6
9%
9%e
91316 9**ie 10% 10%6
10%
11
105q
iliie
10%
11516 113j6 115s 119,0 U%6
12*lfi 1U°16 123a 125,6 123.6
12%e 125i6 12% 121116 129.6
1258
12%
12!%6 12% 12%
13
12%
13®io 13% 13%
13%
13%
13%e 13% 133s
14
13%
14516 14%
14%
ia?. 14%
145s
15%6 15
Wed
Frt.
Wed
Tb.
Ordin’y.^lb 8i5,e 8i3ie 8**16
Striet Ord..
9®16
Good Ord.. 10*2
Str. G’d Ord ll*m
TEXAS.
Mon Toes Sat.
9716
10%
Th.
10%
97ie
If16
123s
12%
11916 117.6
125.6 12316
1211.6 129.6
1215.6 12%
135.6 13%
139.6 13%
U?1G
1^%6
Frt.
§15,6
14%
15
10%
12%
13%
13%
14%
14%
Wed
Tb.
Frl.
93,6
91}6
8**i6
99,6
105s
1C%
9lt,6
2!> IOSq
10%
12%
12%
13%
13%
145a
123s
12%
125a
12%
13
13
13%
13%
14%
14
12%
13%
13%
14%
145r
99,e
95,6
91516
lUm
llSg
14%
9%6
9Hm
9516
1038
9%
10%
Mon. Tuei
10%
10151C 101316 11%6 113,6 11 %6 H^lb
U316 11*16
H916 12116 111516 1113.6 121,6 1U°16 11*3,6
11^16 12%6 12518 123.6 12*16 125,6 123,6
12%
Low Midd’g 11**16
Str.L’w Mid 12316 lljhe
12116
Middliug... 1238 12%
Good Mid.. 12%
125s
Str. G’d Mid 13
12%
Midd’g Fair 13% 1358
Fair
1412
143s
125q
12%
12%
13%
14%
13
13%
14
1434
STAINED.
Good Ordinary
Strict Good Ordinary
Low Middling..
Sat.
$ lb
8%
10
10%
121,6
Middling...*..
Mon Tues Wed
Tb.
12%
12%
13
13%
14%
Frl.
813,6
9**10
Slim 3916
85,6
913,6 9ii,6 9916 .97,6
101%6 109,6 107,6 10*16 103,6
12
11%
11%
115a
11%
*
Includes 100 for August, 1881.
Transferable Orders—Saturday, 12-30;
Monday, 12-10;
12 00; Wednesday, 11*70;
Thursday, 11*90; Friday, 11*70.
Short
Notices
•05
SPOT MARKET
CLOSED.
Sat.. Quiet at
1,5dec..
Mon. Quiet at * j
d ec..
Tues. Easy at % 5dec...
Wed W’k &
irreg.,%dc
.
Thurs Quiet at %dee..
Fri.. Ir. & easier, %dec
Total
4.
1
>-
JK®
deliveries
vious to tliat ou
SALES OF SPOT AND TRANSIT.
Ex¬
port.
600
600
Consamp.
156
361
476
886
190
313
1,082
1,513
3.151
Spec- Tran¬
ut't’n
sit.
Sales.
156 124.900
561 149,300
200
158
•
358
Total.
FUTURES.
mm*
....
600
1,076 188.900
1,644 181,700
190 173,400
1,395 214.900
5,022
+
given above are actually delivered the day
wliicb they are reported.
^*HE Sales
Deliv¬
eries.
600
Prices of Futures are shown
by the follow¬
ing comprehensive
table. In this statement will be found the
daily market, the prices of sales for
each month each
me
closing bids, in addition to the daily and total sales day, and
.
and
1164d
following exchanges have been made during the week:
pd. to exch. 200 Sept.
s.n.
The Visible Supply
for reg. | *30 pd. to exch. 100 Nov. for Jan.
Cotton, as made np by cable and
follows. The Continental stocks are the figures
of last Saturday, but the totals for Great Britain and
the afloat
for the Continent are this week’s
returns, and consequently
brought down to Thursday evening; hence, to make the totals the
complete figuras for to-night (Sept. 16), we add the item of exports
from the United States, including in it the
exports of Friday only;
telegraph, is
of
as
Stock at Liverpool
Stock at London
bales.
_
Total Great Britain stoek
pre¬
Tuesday,
September—Tuesday, 11*93; Thursday,
11*68; Friday, 11-78^11*65.
The
MARKET AND SALES.
for
Stock at Havre
Stock *t Marseilles
Stock at Barcelona
Stock if t Hainourg
Stock at Bremen
Stock at Amsterdam
Stock at Rotterdam
Stock at Antwerp
1881.
1880.
1879.
706,000
46.400
558,000
52,900
1878.
321,000
65,908
452,000
23,000
752,400
386.908
106,860
1.733
475.000
148.000
14.262
2.400
IG.000
5.500
20.900
610.900
77.200
8.120
40.100
3,600
29.000
13,300
3.470
16,619
29.272
2,570
2,300
31,500
41,500
7,750
981
172,000
4.580
41,300
1,500
48,600
2,131
1.750
5,240
THE CHRONICLE.
306
1881.
1880.
1879.
1878.
26,000
17,200
3,254
12.00J
329,650
192,071
176,616
269,250
182,000
97,000
297,207
59,125
2,400
108,000
103,000
133,003
38,094
14,000
98,000
44,323
104,775
23,896
209,000
20,000
109,351
26,377
.1,187,732
807,102
457,994
692.228
156,000
46,400
147,650
144,000
19,000
202,000
52,900
134,000
05,908
126,000
85,071
78,616
106,000
159,252
23,000
60,250
175,000
17,000
4,619
4,000
[VOL. XXXIII.
The above statement shows—
1. That the total receipts from
the plantations since Sept. 1 iQ
202,518 bales; in 1880 were 198,181 bales; in 1879 were
137,502 bales.
744,250
563,521
802.971
1,032,050
2. That, although the receipts at the. out-ports the past week
3 59.252
175,000
106,000
India cotton afloat for Europe. 144,000
20,000 were 92,052 bales, the actual movement from plantations was
►
44,323
103,000
97,000
4.000 108,194 bales, the balance going to
17.000
4,619
increase, the stocks at
>
19.000
109,351
104,775
188.008
297,207
he interior ports.
Stock in United States porta
Last
year the receipts from the planta¬
14,665
11,093
59,125
22.5S9
Stock in U. S. interior porta...
tions for the same week were 115,239 bales and for 1879 they
1,500
14,000
2,400
United States exports to-day.
were 82,266 bales.
Total visible supply........ 1,700,782 1,253,568
887,586 3,06S,766
Weather Reports by Telegraph.—The weather ‘during the
Of the aoove. the totals of American and other descriptions are as folio w>:
past week has been favorable throughout the greater portion of
American—
the South.
Rain has fallen in every section and prospects look
326,000
187,000
550,000
356,000
Liverpool stock
Stock at other oontl’ntal porta.
,
881
were
,
.
Continental stocks
American afloat for Europe...
United States stock
United States interior stocks.
.
.
.
.
United States exports to-day.
Total American
East Indian,Brazil, <£c.—
Liverpool stock
.
London stock
Continental stocks
India afloat for Europe
.
.
.
®gypt, Brazil, &e., afloat
.
1,500
Total East India, &c
.
513.050
461,971
442,395
388.250
Total American
.1,187,732
807,102
457,994
692,228
900,339 1.080.478
1.700,782 1,269.073
78,
'
7-*lttd.
73lfid.
Total visible supply
Price Mid. Upl., Liverpool
6718d.
69]ftd.
more
encouraging.
Galveston, Texas.—It .has rained hard on two days of the
past week, extending throughout the State.
The rainfall
reached two inches and twenty-four hundredths. The rain has
been beneficial, but comes too late for best results.
Average
thermometer 81, highest 91 and lowest 67.
Indianola, Texas.—We have had delightful showers on four
days of the past week, and the indications are that they ex¬
tended over a wide surface. The rainfall reached two inches
and forty-three hundredths. The thermometer has averaged
79, ranging from 64 to 92.
Corsicana, Texas.—We have had delightful showers on three
days of the past week, and the indications are that they extend¬
ed
over a
wide surface.
The rainfall reached three inches and
Picking is progressing finely. The
averaging 72.
Dallas, Texas.—We have had rain on three days of the past
The above figures indicate an increase in the cotton in sight
week, the rainfall reaching three inches and ten hundredths.
to-night of 431,709 bales as compared with the same date of 1880, The rain has come at last, and will do good, but it comes almost
an increase of 800,393 bales
as compared with the corres¬
too late Jo redeem the crop.
Picking in progressing finely.
ponding date of 1879 and an increase of 620,304 bales as com¬ Average'thermometer 72, highest 96 and lowest 59.
pared with 1878.
Brenham, Texas.—We have had delightful showers on
At the Interior Ports the movement—that is the receipts three days of the past week, and the indications are that they
and shipments for the week, and stocks to-night, and for the extended over a wide surface, though they come very late. The
corresponding week of 1880—is set out in detail m the following rainfall reached two inches. Picking is progressing finely. The
statement:
thermometer has averaged 77, ranging from 62 to 95.
Continental ports this week have been
p&T The imports into
18,000 bales.
Week
Week
ending Sept. 16, ’81.
ending Sept. 17, ’80.
Receipts. Shipin'ts
Augusta, Ga
Columbus, Ga...
Macon, Ga
5,679
3,403
Montgom’ry.^la.
Selma, Ala
Jlemphis, Tenn..
5,454
2,710
3,965
4,781
692
42
162
1,503
1,642
878
940
968
763
399
The thermometer has
3,141
1,447
'750
1,600
2,680
1,145
3,453
1,154
652
619
5,673
1,042
34,824
27,547
38,094
606
44
724
18
1,450
2,304
3,878
2,324
468
Shreveport, La..
Vicksburg, Miss.
Columbus, Miss..
Eufaula, Ala....
1,505
2,754
628
565
2,427
1,714
Griftin, Ga*
Atlanta. Ga*.
Rome, Ga
318
405
432
250
1,230
1,645
Charlotte, N. C..
St. Louis, Mo
650
720
1.528
360
4,729
3,449
10.359
Cincinnati, 0....
2,253
1,602
3,666
7.512
2.790
6,327
2,907
4,116
2,435
1,581
1,232
720
114
33
226
1,171
73
350 !
i
682
387
1,646.
1,046*
j
1,815
7,337
1,757
71
3 38
3,224
2,829
2,677
1,657
2,943
3,306
43,390
3,706
•
'650
2,336
700
-
59,125
Total, old ports..
45,285
Newberry, S C.
Raleigh, N. C
Petersburg, Va..
378
378
1,295
500
189
1,126
Little Rock, Ark.
88
77
559
200
837
Brenham, Tex...
1,793
1,480
Louisville, Ky...
90 1
1,288
2,576
608
2,500
84
107
67
384
157
194
370
1,997
1,690
16,421
16,811
2,062
9.146
/1
1,366
220
Houston, Tex....
14,217 ] 13,683
1,930
10,972
Total,
18,407
16,507
16,327
22,158
22,330
13,580
63,692
45,650
75,452
56,982
49,877
51,674
new
ports
Total, all
*
figures estimated.
The above totals show that the old interior stocks have in¬
creased during the week 16,142 bales, and are to-night 21,031
bales more than at the same period last year. The receipts at
the same towns have been 20,461 bales more than the same week
This year’s
last year.
Plantations.—The
following table is
>ared for the purpose of indicating the actual movementeach
from the plantations. Receipts at the outports are some
times misleading, as they are made up more largely one year
Receipts
prom
the
than another, at the expense of
the interior stocks. ' We reach,
safer conclusion through a comparative statemen ;
like the following. In reply to frequent inquiries we will adc.
that these figures, of course, do not include overland receipts or
Southern consumption; they are simply a statement or the
weekly movement from the plantations of that part of the crop
which finally reaches the market through the out-ports.
therefore,
a
RECEIPTS FROM PLANTATIONS.
Week
ending—
1
Receipts at the Ports.
1879.
8
3,037
3,032
It
15
2,809
«4
22
3,272
29
2,503
3,945
July
It
•4
Aug. 5
II
12
3,402
•4
19
4,843
a
Sept
20
4,875
2
13,920
30.054
•
44
*4
9
10
three
1,489
12,223
2,440
1,614
2,932
29,143
on
988
443
2.149
563
851
100
967
3,247
1,171
...
delightful showers
262
4,311
Nashville, Tenn.
100
Waco, Texas.—We have had
501
74
4,972
1,478
1,695
3,427
2,756
Stock.
Receipts. Shipm'ts
Slock.
Dallas, Texas
Jefferson, Tex.x.
...
thermometer has ranged from 59 to 96,
days of the past week, and the indications are that they extended
over a wide surface, but it is doubtful about their now doing
much good. The rainfall reached two inches. Picking is prog¬
ressing finely.
The thermometer has ranged from 60 to 96,
averaging 72.
New Orleans, Louisiana.—It has rained on three days of
the past week, the rainfall reaching two inches and forty-five
hundredths. The thermometer has averaged 78.
Shreveport, Louisiana.—The weather has been generally
fair during the past week, with rain on Wednesday, the rainfall
reaching four inches and twenty-seven hundredths. The temerature is decidedly low as the week closes. The river is very
lcow, there being no rise from the heavy rain of Wednesday.
1
*
eighty-nine hundredths.
Stock at Interior Ports Rec'pts from Plant'ns.
1880.
1831.
1879.
1880.
1881.
17,057
20.002
22,388
75.103
14,070
10,091
13,148
19.103
20.691
71,950
18,199
19,302
10,S59 10,151
8.932 17,818
8,091 13,002
8.390 20,538
21.123 35,078
42,082 40,722
15,528
00,198
50,002
49,031
41,507
69,988
04,212
54,77:
48,397
40,92d
14,410
13,960
13,049
11,477
1879.
602
1,335
2,154
2,059
3,028
1,890
35.473
30,820
43,305
7.403
29,801
39,744
829
7,301
27.702
33.753
4,713
10,217
35,019
38,094
82.200
01,117
70.812
9,598 21,770 35,092
14,503 25,550 42,983
70.933 102.095
92,052
23.890
59.125
1830.
1881.
10,988
10,917
4,039
3,012
3,82S
8,775
13,387
858
13,718
19,601
8,704
32.9S2
8,680
2,057
2,787 10,917
19,021 29,087
36,090 48,001
64,897 78,103
115,239 108.194
averaged 74, ranging from 58 to 95.
Vicksburg, Mississippi.—The weather has been cool durin
the past week, with rain on one day to a depth of two inches an
eighty-five hundredths.
<Columbus, Mississippi.—It has rained on three days of the
past week, but as the week closes there has been a favorable
change in the weather. The rainfall reached three inches and
thirteen hundredths. The thermometer has ranged from 67 to
90, averaging 79.
Little Rock, Arkansas.—Telegram not received.
Nashville, Tennessee.—It has rained on three days daring
the past week, the rainfall reaching four
hundredths.
The rain cannot benefit
to damage
lowest 52.
inches and fifty-seven
cotton, but is likely
Average thermometer 70, highest 95 and
it.
Mobile, Alabama.—It has rained on three days of the past
on two of which severely, and the balance of the week has
week,
four inches and forty-two
promisingly, and picking
Average thermometer 79, highest 90,
been pleasant. The rainfall reached
hundredths. The erop is developing
is progressing
lowest 68.
finely.
Montgomery, Alabama.—It has rained hard on two days of
week, but as the week closes there is a favorable
the past
change in the weather. The rainfall reached two inches and
seventy-five hundredths. Crop accounts are unchanged. The
thermometer has ranged from 67 to 93, averaging 80.
Selma, Alabama.—It has rained on two days of the past
week, and the rest of the week has been pleasant. The rainfall
reached three inches and thirty-five hundreds.
The ther¬
mometer has averaged 77, ranging from 60 to 91.
Madison, Florida.—We have had delightful showers on three
dayS of the past week, and the indications are that they extended
over a wide surface.
Picking is progressing finely, and about
one half of the crop has been picked.
The thermometer has
averaged 82, the highest being 90 and the lowest 74.
’
i
Macon, Georgia.—It has been showery on two days, of the
The showers extended over all of this section, and
much good. The crop is turning out much
more promising, and a top crop will be made.
The thermometer
has averaged 79, the highest being 91 and the lowest 67.
Columbus, Georgia.—It has rained severely on one day of the
asfi week, the rainfall reaching two inches and forty hunSredths. The thermometer has ranged from 70 to 90, aver¬
aging 82.
Savannah, Georgia.—We have had rain on three days of the
past week, and the balance of the week has been pleasant. The
rainfall reached ninety-four hundredths of an inch. Average
thermometer 81, highest 92, lowest 72.
past
week.
will do the crops
September
THE CHRONICLE.
17,v1881.]
Augusta, Georgia.—The weather during the oast week has
been clear and pleasant, with light rain on one day, which did
but little good. The rainfall reached sixty-one hundredths of
an inch.
Accounts are unimproved since last report, but as the
week closes the indications are good for rain, which is much
needed for the development of the crop. The thermometer has
ranged from 69 to 95, averaging 81.
Atlanta, Georgia.—It has rained on one day the past week,
the rainfall reaching two inches and thirteen hundredths. The
thermometer has averaged 78, ranging from 67 to 90. We had
no rain last week.
*
Charleston, South Carolina.—We have had heavy showers
on five days of the past week, the rainfall reaching three inches
and forty-five hundredths. The thermometer has ranged from
70 to 90, averaging 81.
The following statement we have also received by telegraph,
dhowing the height of the rivers at the points named at 3 o’clock
September
15,1881, and September 16, 1880.
r
be
SepL 15, ’81. Sept. 16, 80.
Below high-water mark
Memphis
Above low-water mark...
Nashville
Above low-water mark...
Shreveport
Above low-water mark...
Vicksburg
Above low-water mark...
Department’s report
Report
Agricultural .department's
New Orleans
Feet. Inch.
11
9
9
6
1
9
9
4
..
Missin
for
Missing.
September.—The
Agricultural Department at Washington has issued its Sep¬
this week, as follow’s:
reports of September 1st to this Department show a very
heavy decline in the condition of cotton since the last report,
owing to the protracted drought which has prevailed in all Sec¬
tember condition report
The
tions of the cotton belt.
The condition as reported
is 72, a decrease of 16 per cent
during the month of August, and as compared with the returns
at the s.ime date last year is 19 per cent less. The reports are
from 330 counties of the cotton section, and are somewhat less
in number than usually received.
The number of counties and the State averages are as follows:
.North Carolina, 42 counties reporting, average 72; South Caro¬
lina, 22 counties, average 68; G-eorgia, 55 counties, average 71;
Florida, 14 counties, average 87; Alabama, 33 counties, average
80; Mississippi, 37 counties, average 74; Louisiana, 15 counties,
•average 76; Texas, 60 counties, average 65; Arkansas, 31 coun¬
ties, average 55; Tennessee, 21 counties, average 62.
Taking the above figures for September, and adding them to
those for the previous months, we have the
following compari
son between this year and last year.
States.
No. Car.
8o. Car.
Georgia
Florida.
Ala....
Miss...
Louis’a.
Texas..
Ark’sas
Tenn..
Av’ge..
From
Florida
by 2
more
favorable and by 54 less favorable; 9
year.
Cotton Exchange Reports for September.—We
low the Cotton Exchange condition
publish be¬
reports for September 1,
received
by telegraph:
Norfolk Department.
compare unfavorably with last year by all. Thirty-five estimate that
only one-half of last year’s crop will be made. All the replies show that
picking has commenced; 41 say it is now general, while the remainder
expect it to be general between the 5th and 15th of September. There
are no complaints of worms.
All the replies, without exception, com- •
plain of injury by drouth, shedding or rust, and the damage
by these
causes is estimated by 25 at 50 per
cent, by 15 at 33 per cent and by 5
at 25 per cent. Damage from the recent wind
storms is reported from
some of
the lower counties.
Savannah
Department.
This report covers Northern, Middle and Southwestern
Georgia,
all of
(boing
Georgia except the twenty-eight counties in charge of ths Augusta
Exchange) and the entire State of Florida. The report is prepared and issued by the Savannah Cotton Exchange, through their Com¬
mittee on Information and Statistics, composed
of J. H. Johnston.
Clavius Phillips, J. J. Wilder, F. M. Farley ana R. C. Wood.'
Cotton
-
Georgia.—75 replies from 49 counties.
The weather during August was too hot and
dry; less favorable than
last year; early cotton small and stopped
growing; late planting still
growing and fruiting well; some very gloomy accounts where soil and
climate are particularly against the plant;
picking general from 20th
to 30th of August; worms have done considerable
damage in portions
of southern Georgia and in other localities;
but little damage in ex¬
pected in either the middle or northern sections of the State; rust and
shedding is spoken of in sandy lands. Reports to the 1st of September
represent tbo condition of the crop at that date 10 to 15 per cent
inferior as compared with the last crop at the same date.
Florida.—17 replies from 10 counties.
The weather during the past month has been
generally unfavorable
for the cotton plant. There is a general complaint of
rust, shedding and
A month or so ago the farmers considered the
worms.
prospects better
than last year, but now look upon them as 15
per cent inferior.
Picking
was general on the 25th of
August. In the Sea Island section the
weather was hot and sultry. The plant commenced
fruiting well, but
is now shedding the middle bolls. The
top fruit is injured by the cater¬
pillars.
Angusta Department
the Counties of Georgia not included in the Savannah
Report,
and is issued by the Augusta Cotton
Exchange, through their Com¬
mittee on Information and Statistics, composed of L. LZulavsky, Chair¬
covers
man;
Geo. W. Crane, S. M. Whitney, J. J. C. McMahan and W. M.
Jordan.
*£
’
-j
Georgia.—55 replies from 17 counties. Average date, Aug. 31.
Five
amount of lint.
Mobile
Department
the State
of Alabama as far north as the summit of the Sand
Mountains, and the following Counties in Mississippi: Wayne, Clark,
Jasper, Lauderdale, Newton, Kemper, Neshoba, Nebaboe, Winston,
Lowndes, Oktibbeha, Clay, Monroe, Chicasaw, Itawamba, Lee, Pontotoc,
Prentiss, Alcorn and Tisbamingo. The report is prepared and issued by
covers
the Mobile Cotton
Exchange, through their Committee on Information
Statistics, composed or T. K. Irwin, Chairman, Julius Buttner, S.
Statistics, composed of Louis Hilliard, Chairman, W. D. Rouutree, Haas, G. Thos. Cox and G. L. Hopkins.
and John C. Maximos, issues the
following report, covering the State of
Alabama.—70 replies from 44 counties.
Virginia and the following Counties in North Carolina:
Rutherford,
The weather during August is reported as
Lincoln, Catawba, Rowan, Davidson, Iredell, Burke, Wilkes, Caldwell,
having been equally as
favorable to more favorable in bottom and canebrake lands, and less so
Alexander, Davie, Forsythe, Yadkin, Stokes, Surrey,
in uplands, on account of drouth, as compared with last year. In
Caswell, Person, Granville, Warren, Franklin, Nash, Wake,Rockingham,
only
Hyde, Pitt,
Green, Cartaret, Craven, Beaufort, Tyrrel, Washington, Martin, Bertie, 10 counties is the plant reported as fruiting well; all others report it
Ghowan, Pasquotank, Camden, Currituck, Gates, Hertford, Northampton not fruiting well, and shedding in 15 of the most productive counties.
and Halifax.
The present condition of the crop is reported as being from as good to
better than last year. In other counties its condition is variously re¬
North Carolina and Virginia.—79 replies from 36
counties; ported as being from less favorable to 50 per cent worse; average 25 per
cent worse. Picking has commenced and is pretty general all over the
average date August 31.
Seventy replies give the weather as unfavorable, 8 favorable and 1 State. Worms have appeared in limited numbers and have done very
very favorable; 63 replies show the weather less favorable and 11 more little damage. The damage from drouth, shedding and rust has been
iavorable than for the same time last
considerable in uplands. The approximate percentage of loss is not
year. Fifty-live replies state that
xne cotton is
not retaining squares and bolls, 18 that the cotton is
given.
retaining squares and bolls, and 6 report the same as last
Mississippi.—32 replies from 18 counties.
year. Fortyone replies show
poor condition, averaging 3617100 per cent less than
The weather during August, and as compared with last year, is re¬
tast year, 23 show the
condition poor to bad, 8 not so good as last year,
ported as unfavorable, with the exception of Lauderdale and Monroe;
r tne same
as last year, and 6 better than last
year. Twenty-live replies all report the plant as not fruiting well, no retaining of the squares and
state that
picking has not begun and 54 that picking has begun. bolls. 'As compared with last year, the present prospect is 14
Ane tenor of the
per cent
replies shows that picking will be general by S6pt. 15. less. Picking is general. Worms have appeared in 14 counties, with
weventy-two replies show that no worms have appeared; 1
notable
reports
damage in three of them. The damage from all causes is given
sw?8 • ut only
damage; 6 report lice and considerable damage, at 26 per cent.
i(1T‘ei>lie 8» averaged, show that the crop has been injured by
New Orleans Department
rflTi 3f07100 Per cent! 6 show little or no damage; 26 show that the covers that
part of the Slate of Mississippi not apportioned to the Mem¬
+m£ei1 damaged by drouth, shedding and rust to a greater or less
phis and Mobile Cotton Exchanges; the entire Stale of Louisiana, and
Abm. T^e £enera-l tenor of the replies indicates that the weather in
■august was
the
State
of Arkansas south of the Arkansas River. The report is pre¬
exceedingly dry and most unfavorable for the crop.
pared and issued by the New Orleans Cotton Exchange, through their
Charleston Department
Committee on Information and Statistics, composed of Wm. A. Gwyn,
sJ;ate
°f Souih Carolina, and is prepared and issued by the Chairman, Chris. Chaffe, Jr.,W. H. Hawcott, W. A. Peale, Cliaa. Holland
Cottoii Exchange,
through their Committee on Information and A. L. Browne.
The Norfolk Cotton
and
Williams
re-
correspondents report the weather as favorable; and 40 unfavor¬
able, owing to constant great heat and dryness. A few points had fitful
showers early in the month, some not until the 28th; the
majority re¬
port no rains. Four replies state the weather as more favorable, 3 as
same as last year, and 38 as less favorable.
The replies are almost
unanimous that early-planted cotton has almost ceased
fruiting. Some
late cottons that received a good start are doing well. All but 5 cor¬
respondents complain of shedding, some very seriously. The condition
of the crop is reported as unfavorable. The plant, as a
rule, is mueh
smaller. It lias shed a great deal of young fruit,
owing to drouth and
rust, and prospects for a top crop are not promising. Only 3 corres¬
pondents report a better crop than last year, 3 a falling off of two-thirds,
and 39 a probable crop of from 50 to 90 per cent of that of last
year,
1881.
1880.
the damage beiDg mainly on the poorest lands.
Picking commenced
nearly everywhere between August 10th and 15th; five correspond¬
June. July. Aug. Sept. A ver'ge June. July.
Aug. Sc2)t. Aver9ge ents state that it will become general September 1st to 10th ; 40 state it
was general August 20th, owing to rapid
opening of the bolls. Worms,
96
94
89
72
88*0
92
101
106
100
99*7
in small numbers, are reported by 3 correspondents
only, but the
88
93
81
68
82*5
104
99
93
98
98*5
weather was too hot and dry to permit their spreading or
doing any
92
98
92
71
83*2
98
97
98
95
97*0
material damage. Our reports are unanimous as to injury from drouth
100
99
100
87
96*5
90
92
96
91
92-2
and rust, aud consequent shedding of squares and youug fruit. But
102
102
95
80
9 i*7
9G
93
99
86
93*5
reports are very variable, aud the crop is very spotted, rendering the
94
94
89
74
88*0
96
99
99
88
'95*5
computation of an average very difficult. The average of our replies
90
96
87
87*2
76
97
96
99
88
95*0
indicates a damage from causes mentioned of about 20 per cent. There
89
89
79
65
80*5
106
111
110
97
106 0
is no doubt that early-planted cotton was stunted in growth
by the
90
92
85
55
80*5
100
104
106
95
101*2
drouth that overtook it, aud that, as a rule, the plant is
fully one-third
93
105
62
98
89*5
103
99
107
90
99*7
smaller than last year. A good deal of young fruit was shed m July and
August, and at date of our last reports no new fruit was being taken onr
93
95
88
72
87*5
98
100
102
91
97*7
and the prospects for any top crop are very slim indeed. Late cbttons,
some of which did not come up until the June rains, are
doing compar¬
the above it will be seen that, with the
exception of atively well, and may add to the volume of the crop. Cotton is matur¬
ing very rapidly, bolls are hardly full grown, and up to the present it
and Alabama, the average of the condition
reports as takes a larger quantity of seed cotton than last year to make an equal
given by the Agricultural Bureau is below that of last
as
as good,
1 report
fruiting well
retaining
and is
bolls,
while
Sort
the crop
its squares
the as
contrary.
The and
present
condition
of the crop
stated to
<
'
equally
309
Exchange, through their Committee on Information
^C8’ comP°se<* of
Norden, Chairman, R. D. Mure, and E. C.
g^arolina.—60
August
replies from 28 counties; average date,
a JJjf character of the weather during August is reported as favorable by
ana unfavorable
by 54;
as
compared with last
year
it is stated by 4 to
aud
Louisiana.—118 replies
August 31.
from
38 parishes;
average
date
The weather during the month has been entirely too dry, and, com¬
pared with last year, less favorable; the plant has neither fruited well
nor retained its squares and bolls; the condition is not srood, and is
much worse than last year. Picking is now general.
Worms have
)
.
THE CHRONICLE
310
appeared ia a few parishes, doing slight damage. The drouth has
the crop ; the damage from this source, shedding
the State 40 per cent, the heaviest loss brine
caused serious injury to
and rust averages for
sustained in the uplands.
Mississippi*—134 replies from 34 counties;
average
date
August 31.
The weather is universally reported as very dry, and moro unfavor¬
able than last year; the plant has not retained its fruit; shedding and
rust are reported generally in the uplands. • The present condition is not
1
good;
compares very unfavorably with last year, owing to the excessive
drouth and shedding. Picking has commenced and is general through¬
out the above counties. The worm has appeared in several counties,
but the damage reported is trifling. The dunnage from drouth, rust and
shedding averages 34 per cent. The drouth is reported as unprece¬
dented, causing the plant to stop growing and forcing open immature
bolls.
Arkansas.—136
replies from 32 counties;
average
date
August 31.
The weather has been unfavorable during the month.
Compared with
it has been decidedly less favorable. The cotton is neither
fruiting well nor retaining its squares aud bolls. The present condition
of the crop is very bad, and, compared with last year, 58 percent
worse, this being caused by excessive heat and long-continued drouth.
Picking began about August 25 and was general Sept. 1, though it has
been somewhat retarded by excessive heat. Worms have appeared in
some counties, but have done no damage. The drouth has been unprece¬
dented, and, combined with shedding and rust, has doue serious injury.
last year,
Galveston Department
the Slate
of Texas, and was prepared and issued by the Galveston
Cotton Exchange, through their committee on Information and Statistics,
composed of J. D. Skinner. Chairman, Chas. Kellner, II. Dreier, J. M.
King and Robt. Bornefeld.
covers
Texas.—118 replies from 89
counties; average date Aug. 31.
Eighteen counties report favorable and 71 unfavorable weather for
cotton; 10 report the weather more and 73 less favorable than last
is fruiting well and retaining the squares and bolls in
shedding in G7. In comparison with last year, the
present condition is reported 15 per cent Better in 11 counties; 7 report
it the same; 36 twenty per cent less aud 42 fifty per cent less.
Picking
is general all over the Si ate.
Worms appeared in eight counties,
year. The plant
22 counties and
but have done
no
damage.
The plant has been greatly injured by
drouth, and, compared with last year, it amounts to 25 per cent in 29
counties and 50 per cent in 56, while 4 report the condition somewhat
better.
The majority of the reports say picking will be over by 1st of
October, and that the plant has stopped growing.
Memphis Department
the Slate
of Tennessee west of the Tennessee River, and the fol¬
lowing Counties in Mississippi: Coahoma, Panola, Lafayette, Marshall,
De Soto, Tunica, Benton and Tippah, and the State of Arkansas north of
the Arkansas River. The report is prepared and issued by the Memphis
Cotton
Exchange, through their Committee on Information and
Statistics, composed of Henry Hotter, Secretary and Superintendent
W. B. Galbreath, Chairman, David P. Hadden, William Bowles, Sr.
George II. Latham, J. T. Petit, R. L. Cottin, 0. B. Clarke and G. S
covers
Maclaren.
West Tennessee.—29 responses.
Weather—All report the weather for the month of August unfavorable
on account of excessive drouth.
Compared icith 1880—All report less
favorable.
Cotton Fruiting—All report fruiting badly, with serious
shedding of forms and bolls. Condition of Crop and Comparison icith
1880—All report the crops in poor condition and less favorable than last
year. Picking—Picking is progressing rapidly.
Worm Depredations—
26 report no appearance of worms, 3 report appearance of worms, 2 no
damage and 1 sl'ght damage. Damage bg Drouth, Shedding and Rust—
All report serious damage from above causes, averaging 54 per cent.
North
Mississippi.—25
Weather—All report the weather for the month of August unfavorable
accouut of excessive drouth.
Compared with 1880—Two report the
weather about the same and 23 less favorable.
Colton Fruiting—A1
report fruiting badly, with serious shedding of for ms aud bolls. Condil
iion of Crop and Comparison with 1886—All repor t the crops in poo
condition and less favorable than last year. Picking—Picking is pro¬
ceeding rapidly. TTor/n Depredations—Twelve report no appearance of
worms; 13 report worms as having appeared in lowlands, but no serious
damage has been done. Damage by Drouth, Shedding and Rust—A\1
report serious damage from above causes, averaging 49 per cent.
North Arkansas —28 responses.
Weather—All report the weather for the month of August unfavorable
on account of excessive drouth.
Compared with 1880— All report less
favorable.
Cotton Fruiting-All report fruiting badly, with serious
shedding of forms and bolls. Condition of Crop and Comparison with
1880—All report the crops in poor condition and less favorable than last
year. Picking—Picking is making good progress. Worm Depredations—
Twenty-live report no appearance of worms, and 3 report worms, but
no damage has been done.
Damage by Drouth, Shedding and Rust—All
report serious damage from above causes, averaging 62 per cent.
responses.
Weather—All report the weather for the month of August unfavor¬
account of excessive drouth.
able
2. Compared with 1880.—Two report the weather about the same and
1.
on
8Q less favorable.
3.
Cotton
Fruiting.—All report fruiting badly, with serious shedding
of forms and bolls.
4. Condition of Crop and Comparison with 1880 - All report the
crops
in poor condition and less favorable than last year.
5. Picking—Picking is about general throughout the entire district.
6. Worm Depredations—Sixty-three report no appearance of worms,
19 report worms, but the damage done is immaterial
7. Damage by Drouth, Shedding and Rust— All report serious damage
from above causes, averaging 55 per cent of entire crop.
8. Miscellaneous—All our correspondents report tho continuance of
the unprecedented drouth that was noted in our July report, which has
caused the continued shedding of forms and bolls, and the too
rapid
ripening of the fruit.
International Cotton Exposition.—H. I.
General of the Cotton Exposition to be
Kimball, Directorheld at Atlanta in
October, announces that excursion tickets between New York
and Atlanta, good to return on within thirty days from the date
of purchase, will be sold for $36 during the months of October,
November and December.
The New Egyptian Cotton Crop.—Messrs. Fritz Andres & Co.,
of Alexandria, write as follows as respects the new Egyptian
crop,
in the Liverpool Daily Post of August SO.
Having just returned from a visit to our cotton districts, we are in a
position to lay before you the result of the information obtained, which
will enable you to form an idea as regards prospects for the next crop.
Cotton in tins country is cultivated in two different ways, one called
“Misgaui” and the other “ Bali.”
In the first case,
irrigation begins
by steam pumps and other means, and is continued in regular intervals
for some time every twentieth day, later on
every tenth or twelfth dav
The fields thus worked produee generally an
average crop of 4 to 5
can tars of cotton per feddau (about one
English acre).
0
Fields bordering on canals, which dry up during the low
Nile, or thosa
belonging to the smaller planters, who possess no means of artificial
•irrigation, are planted Bali, they are solely irrigated by the Nile- and
•consequently the result of the crop is dependent on an early supply of
water from the Nile. Though sown at the same time as the
Misgaui tli«
fields remain'without -water until the Nile rises liiglrenough to
feed the
canals aud fields. The result is therefore less, aud hardiv
exceeds two
can tars
per
feddau.
as soon as the seed is in the
ground,
u
"
This year we may estimate that three-quarters are
Misgaui and one
quarter Bali. A low or late Nile does not affect Misgaui except the cost
of production, but not the sizcM>f the crop; whilst the Bali
cotton urn
be partially or altogether destroyed by a late or
insufficient Nile.
Unfortunately, the Nile this year is unusually backward, and by this
date is only reaching the lauds in Lower Egypt, or about a
fortnight
later than last aud previous year. The Bali cotton has therefore
greallv
suffered both in quantity" and quality. The cotton crop in
Menufilh—
southern part of the Delta—and in Dehachlic (Mausura) is
excellent in
fact, better than we remember for years past; but they are the richest
and best-cultivated provinces in Lower Egypt. In Middle
Delta,
Kafr-Zayat and Mehalla the plant looks well, with the exception
Tanta
of the
Northern Delta, however, where some of the finest cottons
are
grown, has suffered much from want of water.
Considerable damage
from the same cause has been done in Charkilh (Zaguzig) and Behara
(Damanhur). A very promising district is Fayum, in Middle Egypt
where, until recent years, scarcely" any cotton was cultivated; it is
extending now rapidly, and the crop of this season will turn out highly
satisfactory. Considering all circumstances—the increase of about 8
per cent planted, the present appearance of Misgaui, and granting that
50 per cent of the Bali is lost—we conclude that a crop of three
million
cantars may be expected, provided that the September fogs do no
kerious
harm. Less Gallini, but more Bamiah and white, cotton has been
planted
this season. About quality it is, of course, too early to express
any
opinion, but we fear that wre shall receive a good deal of mixed and
inferior cotton from some districts which had to be re-sown.
Bali.
Jute Butts, Bagging. &c.—Bagging hag continued to sell ia
fair-sized lots, and the market continues firm.
The sales
=
aggregate about 600 rolls of various grades at quotations.
in prices and lots can still be
1% lbs., 10%c. for 2 lbs. and
ll%c. for standard grades. This seems to be bottom; though
it is reported that a shade under will be accepted for a
quantity.
Butts have not changed and the demand continues of a limited
character, few buyers being in market. Prices are nominal but
it is said that some shading is being done. Paper
quality is
held at 2%c.@2J4c., and bagging grades at 3@3%jc., with orders
for small lots being filled at these figures.
Sellers have not made any change
had without difficulty at 10c. for
Comparative Port Receipts
and
Daily
Crop Movement.—
A
comparison of the port movement by weeks is not accurate
as the weeks in different
years do not end on the same day of the
month. We have consequently added to our other standing
tables a daily and monthly statement, that the reader may
constantly have before him the data for seeing the exact relative
movement for the years named.
The movement each month
since September 1, 18S0, has been as follows:
Tear
Monthly
Receipts.
1880.
1879.
Sept’mb’r
458,478
968,318
Novemb’r 1,006,501
Decemb’r 1,020,802
October..
responses.
on
Aggregate—82
; [Vol. xxxin.
January
February.
.
March...
April
....
571,701
572,72S
475,582
284,246
May
190,054
Juue
July
August...
131,871
78,572
115,114
Corrct’DS.
123
'
Beginning September 1.
1878.
333,643
888,492
942,272
956,464
647,140
447,918
261,913
159,025
110,006
88,455
54,258
67,372
42,714
1877.
1876.
1875.
'
288,849
98,491
236,868
689,264
578,533
675,260
610,316
779,237
822,493
900,119
689,610
472,054
340,525
197,965
96,314
42,142
20,240
34,564
52,595
901,392
787,769
740,116
821,177
500,630
449,686
637,067
479,801
182,937
100,191
300,128
163,593
92,600
892,664
616,727
564,824
302,955
166,459
84,299
29,472
13.93S
18,081
458
68,939
169,077
17,631
42,234
29,422
14,462
33,626
66,293
71,935
36,030
Total year 5,874,090 5,001,672 4,447,276 4,345,645 4,038,141 4,191,142
Pero’tage of tot. port
receipts Aug. 31..
99T5
99-99
9879
98-28
9836
Corrections
Total port receipts..
00-85
0001
01-21
01-64
01-72
100-00
100*00
100-00
10000
10000
This statement shows that up to
Aug. 31 the receipts at the
ports this year were 872,418 bales more than in 1879-80 and
1,426,814 bales more than at the same time in 1878-79 The
receipts since September 1, 1881, and for the corresponding
periods of the five previous years have been as follows:
1881.
Sept.l
1880.
1879.
44
2....
44
3....
5,600
10,356
10,182
44
4....
S.
44
5....
18,859
“
6....
9,069
14,754
44
7....
9,315
8,616
11,096
5,454
5,124
10,862
4,878
.*,037
5,6 of
10,512
6,474
8.
‘
3,490
1,843
1,391
2,264
4,927
2,104
1878.
1877.
8.
408
8.
5,708
4,051
4,799
4,224
7,116
-
v
1,246
616
1,008
754
1876.
1,919
1,691
S.
4,630
2,996
3,414
3,111
3,982
4,703
44
8....
44
9....
44
10....
7,637
8,181
16,992
13,054
11...J
S.
15,646
4,858
6,258
1,398
44
12....
16,595
17,797
14,674
10,870
19,062
8.
7.636
3,108
20,842
15,117
13,999
16,191
7,069
8.
7,982
8,627
10,714
15,628
12,215
15,127
8.
8,923
4,788
7,752
6,085
7,899
7,538
164,130
73,886
99,170
21,626
69,435'
02-79
01*58
02-23
00 50
44
44
13....
44
14....
44
15....
44
16....
178,923
Percentage of total
port rec' oteSep.lG
Total
8.
8.
1,701
1,655
13,115
7,341
3,085
4,108
8.
8.
1,664
2,524
2,459
S.
01-72
2881.]
September 17,
THE CHRONICLE.
This statement shows that the receipts since Sept. 1
up to
to-nhrht are now 14,798 bales more than they were to the same
of the month in 1880 and 100,042 bales more than
they were
to the same day of the month in 1879.
We add
XL T*»rr»pnta£6S of total port receipts which had beento the table
received to
The Exports
increase,
al'v
figures which
collected for us, and forwarded by cable each Friday, of
the shipments from Calcutta, Madras, Tuticorin,
Carwar, &c.,
enable ns, in connection with our previously-received report from
Bombay, to furnish our readers with a full and complete India
movement for each week. We first give the Bombay statement
for the week and year, bringing the figures down to Sept. 15.
now
New York since Sept.
1.1881.
Week ending—
Exported to—
Conti¬
Brit'n.
4,000
1881
1880
1879
1878
Shipments since
Great
Britain
nent.
Total.
2,000
6,000 302,000 536.000
1,000 355.000 483.000
6,000 249,000 341,000
2,000 308,000 392,000
1,000
6.000
2,000
Jan. 1.
Liverpool
This
Week.
Total.
nent.
has been
as
Total
838,000
follows.
Shipments this week.
Great
Conti¬
Britain.
nent.
1881
1880
1879..
4,000
1878
2,000
2,000
2,000
i*,6*0*6
5,6*0*6
Great
Britain.
Conti¬
184,000
199,000
71,000
80,000
103,000
58,000
197,000
2.000
114,000
from—
300,000
172,000
India,
the total
shipments this week and since Jan. 1,1881, and therefore,
for the correspond¬
ing weeks and periods of the two previous years, are as
follows.
to
Shipments
alt Europe
from—
Bombay
All other p’rts.
This
week.
Since
Jan. 1.
6,000
This
week.
838,000
1,000
This
week.
838,000
279,000
North, pts
Since
Jan. 1.
6,000
5,000
3,71*6
Virginia..
1879.
Since
Jan. 1.
S. Car’ll na
1,432
2,003
246
455
2,003
370
370
2,163
5,497
1,357
946
193
2,583
5,917
2,496
8,050 21,22710,331 14.927
26,439
50
5,065
2,153
100
Receipts
are the
Boston.
Since
This
week.
Sept. 1.
34,247
Cotton at New York,
of
for the past
week, and
Philadelphia.
Since
Baltimore.
Sept. 1.
This
week.
Since
This
Sept. 1.
Since
week.
Sept. 1.
626
415
415
1,432
1,432
2,055
2,055
4,859
5,844
9,951
626
•
798
455
50
New York.
2,073
1,890
8,666
29,748
50
258
This
week.
20,067
246
209
4,757
N. Orl’aus
Texas....
Savannah
Mobile...
Florida..
N-Carilina
EXPORTS TO EUROPE FROM ALL
INDIA.
1880.
102
102
Hamburg
Receipts
The above totals for this week show that
the movement from
the ports other than
Bombay
is 2,000 bales more than for the
same week last year.
For the whole of
1881.
7,969 12,098
Other ports
255,000
279,000
year.
6,223 16,060
Boston, Philadelphia and Baltimore
since September 1, 1881:
Total.
nent.
Sept. 1.
29,748
Bremen and Hanover....
The Following
14.
Same
period
previous
20,067
20
Grand Total
Shipments since January 1.
Total.
Great Britain
Sept.
Total
since
7,969 12,098
900
show an Total to North. Europe
of 5,000
Spain, Op’rto, Gibraltar,&o
and the All
other
bales.
&c.f for Total Spain, <fcc
CALCUTTA, MADRAS, TUTICORIN, CARWAR, RANGOON
AND KURRACHBE.
Year.
to
Sept.
31.
Total French
7,000 1,155,000
2.000 1,079,000
5,000
785,000
2,000
855,000
838.000
590,000
700,000
Aug.
5,323 16,060
Havre
Other French ports
Since
Jan. 1.
According to the foregoing, Bombay appears to
increase compared with last year in the week’s
receipts
bales, and an increase in shipments of 5,000 bales,
shipments since January 1 show a —crease of
The movement at Calcutta, Madras,
Tuticorin, Carwar,
the same week and
years
Other British ports.
Receipts.
Conti¬
Aug.
24.
BOMBAY RECEIPTS AND SHIPMENTS FOR FOUR
YEARS.
Shipments this week.
•
•
•
•
•
6,644
938
2,040
‘”51
164
39
12
963
12
963
*14
i*75
175
“’hi
164
39
*“*14
Tenn., &c.
653
Foreign..
85
835
235
This year. 19,318
31,396
880
880
429
429
4,637
Last year. 22,056
4,637
36,570|
2,306
2,777
846
955
4,905
5,421
’
590,000
300,000
Shipping News.—The exports of cotton
from the United
States
the past week, as
Total
per latest mail returns, have reached
8,000 1,093,000
1,000 1,117,000 11,000
890,000 37,923 bales.
So far as the Southern
ports are concerned, these
This last statement affords a
are the same
exports
reported by telegraph, and published in
very interesting comparison of the
total movement for the week
the Chronicle last
Friday. With regard to New York, we
ending Sept. 15, and for the three include the
years up to date, at all India ports. "
manifests of all vessels cleared
up to Wednesday
night of this week:
Alexandria Receipts and
Shipments.—Through arrangements New York—To
we have made with
Total bales.
Messrs. Davies, Benachi &
Liverpool, per steamers Adriatic, 2,633....
Co., of
and Alexandria, we now
Bothnia, 1,501
City of Berlin, 2,185—City of Brussels.
receive a weekly cable of the Liverpool
1,503
movements
of cotton at
Nasmyth, 2,073
Spain, 2,203
Alexandria, Egypt. The following are the
To Havre, per steamer St.
12,098
and shipments for the
Germain, 246
receipts
To
246
Bremen, per steamers Elbe, 200
past
week
and
for
the
of the previous two
Nurnberg, 170
To Hamburg, per steamers
coiresponding
week
370
years.
Allemania, 1,363
2,000
255,000
^
«
Alexandria, Egypt,
.Sept. 15.
1881.
1880.
1879.
Beceipts (cantars*)—
OO
This
week.
Since
Sept. 1.
5.500
6.500
This
week.
Since
Sept. 1.
This
week.
Liverpool
Total
*
500
Continent
500
Since
500
500
250
....
1,400
1.650
854
....
1,400
1,650
Acantar is 98 lbs.
This statement shows
that the
for the week
September 15 were 550 cantars andreceipts
the shipments to all
were 500
bales.
ending
Europe
1881.
Twist.
form,
d.
J’ly
15
“
22
“
29
Aug.
5
“
“
12
19
26
Sept.
2
“
9
“
16
"
a.
918® 934
918® 03*
918® 934
9 ®
9V
S78® 9V
9>8® 934
8V® 9V
87q® 9V
878® 9.V
878® 9 V
Shirtings.
d.
9
9
9
9
s.
®3
®S
®8
®8
5V®7
9
®3
5V3>7
5V®7
5V®7
5V®>7
d.
O
0
O
O
8
O
8V
8V
8V
8V
ColVn
Mid.
Up ds
d.
69ie
6U16
6i3la
6i316
328 Cop.
Iwist.
d.
d.
9V ®10
8 V lbs.
Shirtings.
8.
d.
s.
are as
New York
Savannah
Baltimore
Boston
follows:
Liverpool.
d.
CoWn
Mid.
Total
6 7V®7 7V 67s
938 ®10*4 6 7V®7 9
61316
9% ®iov 6 7V®7 9
61316
9j4 ®10V 6 7V®7 9
0l316
63*
9V ® 978 6 7V®7 9
61316
7
®
,9V
97e 6 7V®7 9
7116
61516 9x4 ®10 6 9 ® 7 9
73i&
615lfi 9V ® 978 6 9 ®7 9
7
9 V ® 97s 6 9
7V
@7 9
7*16
73, d
9V ® 9 78 6 9 ®7 9
73ie
12,098
14.960
-
Havre. Bremen.
246
370
2,163
50
5,019
1,242
246
Liverpool, steam d. J4'3!blQ
sail...d.
Do
sail
Bremen, steam,
Do
sail
c.
c.
370
2,163
Do
....
TuC8.
Wednes.
*4®5ie
V®516
*4®&16
1332*
....
....
....
1332*
c.
sail-.-d.
sail...<L
Baltic, steam
Do
*
sail
1332*
d.
c.
Fri.
316/®3*
...9
....
1332*
....
....
....
716®1«
....
....
38®V
v ®v
....
....
....
•
•••
V® V
....
Amst’d’m, steam.c.
Do
Thurs.
....
....
37,923
follows:
Mon.
....
1332*
as
50
.c.
Hamburg, steam, d.
Total.
14,927
14,960
5,019
1,242
1,775
35,094
Satur.
Do
usual
our
Hamburg. Antwerp.
Cotton freights the past week have
been
Uplds
d.
37,923
shipments, arranged in
Philadelphia.... 1,775
Havre, steam
1880.
8 V lbs.
1,775
-
r
report received from Manchester
to-night states that the market
is inactive, but that
firm for both
prices are
twists and shirtings. We
give the prices of to-day
below, and leave previous
weeks’ prices for comparison:
1,242
Crown, 1,500
Total
Manchester Market.—Our
32s Cop.
per steamers British
The particulars of these
604
Europe
Philadelphia—To Liverpool,
....Ohio, 275
Sept. 1.
Exports (bales)—
To
To
To Antwerp, per steamer
Lessing, 800 2,163
50
50
Savannah—To Liverpool, perWaesland,
steamers Arcadia, 4,904 Upland
Cyprus, 5,248 Upland....Marcia, 4,808
Upland
14,960
Baltimore—To Liverpool, per steamers
Eduardo, 520....Jamai¬
can, 971
Nova Scotian, 2,067
St. Coiumba, 1,461
Boston—To Liverpool, per steamers
5,019
Illyrian, 500
405
Missouri,
Samaria, 337
...v
....
This week....
8ince Sept. 1
an
last four weeks; also the
total exports
and direction since
September
1, 1881, and in the last column
the total for the same
period of the previous year:
Exports of Cotton (bales) from
IiroiA Cotton Movement from all Ports.—The
Tear Great
Cotton from New York this
week show
of
as
compared with last week,
total reaching 14,927
bales, against 10,331 bales last week. the
Below we give our usual
table showing the
exports of cotton from New York, and their
direction, for each of the
September 16 in each of the years named.
e
311
•
•
mm
....
38®V
.
.
.
.
....
Tie®1*
....
V
....
516
516
....
i
....
....
516
5ie
516
51S
B16
516
V
....
516
m
m m m
3&
....
Compressed.
Liverpool.—By cable from Liverpool, we have the following
statement of the week’s sales, stocks,
&c., at that port:
THE
312
Sept. 2.
Aug. 26.
2.900
36.500
7,100
-
4,400
747,000
584,000
50,000
39.500
-
75.000
51,000
6,700
3,300
40.500
3,400
7,800
738,000
531,000
49.500
3.900
Bales of the week
bales.
Of which exporters took....
Of which speculators took..
Bales American
Actual export
Forwarded
Total stock—Estimated
Of which American—Estim’d
Total import of the week
Of which American
Amount afloat
Of which American
Sept. 9.
2,000
9,900
51.000
4,400
43.500
36,000
163,000
161,000
65,000
7,200
710,000
554,000
45,500
23,000
141,000
77,000
63,000
CHRONICLE.
Sept. 16.
56,000
3,000
6.700
36,000
2.800
4.700
706,000
550,000
47.500
29.500
151,000
83,000
The tone of the Liverpool market for spots and futures each day of the
week ending Sept. 16, and the daily closing prices of spot cotton, have
been as follows:
Saturday Monday.
Spot.
r
?
Market,
J
12:30 p.m
Mid. Upl’ds
Mid. Orl’ns
Friday.
Dull.
Dull.
inq.
freely
supplied.
7*16
7&16
75i6
75ie
7pm
7*16
7316
73I6
6,000
1,000
8,000
1,000
7.000
Mod.
5 P. M.
Sales
Spec.A exp.
10,000
1,000
10,000
10,000
1,000
2,000
£
)
5 P. M.
Quiet
Closed
steady.
7°io
Weak
Flat.
and
7310
1,500
Steady.
Weak.
Delivery.
d.
7ii 32 May-June
62332 June-July
Nov.-Dee
Dee.-Jan
Jan.-Feb
..G8^
32
6II10
Dec-Jan
62532
Jan.-Feb
Sept.-Oct
6U-10
Oct.-Nov
Nov.-Dee
6916
G^ie
April-May
May-June
June-July
6i316 Feb.-Mar
Mar.-Apr
751B
6i932 July-Aug
6i932 Sept
Feb.-Mar
Mar.-Apr
Delivery.
d.
634
62332 j May-Juno
634 a>2332 | June-July
61932 I June-July
6i93o Sept.-Oct
6i932 Feb.-Mar
658®2132 I Apr.-May
Oct.-Nov
Nov.-Dee
Dee.-Jan
Jan.-Feb
6i316 1 Oct.-Nov
62332 , Nov.-Dee
6H10 I Dec.-Jah
63j
j Jan.-Feb
62332
.75,
6ilie
6913
6916
Oct.-Nov
Nov.-Dee
6916 | June-July
65g
J Apr.-May
6D16 May-June
Dec.-Jan
Jan.-Feb
Mar.-Apr
Sept
714®732®313
Sept.-Oct-. .658^1932
“5)1116
_--61&32
Oct.-Nov
Nov.-Dec....6i5a2“®7i6
6i2@7i«
Dee.-Jan
Jan.-Feb
6^® 1532
61732 ® *2
Feb.-Mar
To-day the market opened weak, but fully recovered at the
close, No. 2 mixed closing at 73%c. for October and 76%c. for
White
November.
The
following
Sept
7532'®316
Sept.-Oct.. ..6i732®9ib
Oct.-Nov
61382
Nov.-Dee
61332
Dec.-Jan
6i332
Jan.-Feb
67ie
Feb.-Mar.. -.67ie®i®32
62532
62732
6®8
6^9
6®8
G^ic
62»32
62332
634
658
61332
67j6
6l»32
6*2
6916
6i»*32
62i32
Oct.-Nov
6916@i732
Nov.-Dee.. ..6916@1732
Dec.-Jan
6916
61932
6®s
7732
6i932
6^8
6i932®9ie
Jan.-Feb
Feb.-Mar
6^
Mar.-Apr
May-June
June-July
Sept
Sept.-Oct
Oct.-Nov
Nov.-Dee
6*2
6*a
Dec.-Jan
6i732
Jan.-Feb
6i&;32
Mar.-Apr.
Apr.-May
May-June
6i732
6916
June-July
62i32
Apr.-May'
62i32 Sept
Sept.-Oct..
-62332
63i®2532 Dec.-Jan
7732 Jan.-Feb
62i32 Mar.-Apr
Feb.-Mar
April-May
May-June
-62i32 Sept.:....
6H10 Sept.-Oct
May-June
June-July
...
4 70 a)
do XX and XXX...
Wis. A Mir n. rye mix.
Winter shipp’g extras.
do XX andXXX...
Patents
7316
G^
6^
6i732
61932
Oct.-Nov
Nov.-Dee
Jan.-Feb
Mar.-April
Apr.-May
69] $
6®s
62132
:...G2332
7532
6 30
1 35
®145
63
70
70
78
® 72
® 7Ua
® 74
® 81
....®....
....®....
...
South, yellow
South, white
Rye
1
Barley—Canada W.
1
Oats—Mixed
White
State, 4-rowed...
State, 2-rowed...
Peas—Can ’da,b. &f.
At—
Chicago
.
Milwaukee....
.
Toledo
Detroit
.
.
Cleveland
.
.
Peoria........
Duluth
.
.
Corn,
Wheat,
bbls.
(196 tbs.)
41,684
50,676
00
41
50
10
bush.
bush.
(56 lbs.)
(60 lbs.)
492,931 3,039,924
Oats,
Barley,
Eye,
bush.
bush.
bash.
(32 lbs.)
416,852
(48 lbs.) (56 Uu.)
94,939 51.548
160.835 32.740
5,346
19,700
29,350
301,422
8,818
3,059
240,433
96,110
7,982
51.000
33,465
15,629
35,600
32,952
1,345
8,500
301,730
7,525
518.750
104,988
399,550
185,175
36,980
11,900
••••••
......
20,800
162,877
Total receipts at same ports
1881.
4,011
......
mill streams, and
production of flour by the smaller mills of
the country is still much curtailed. Rye flour has been weak
and corn meal dull. To-day the market, though quiet, was
strong, and some desirable grades are held higher.
The wheat market has been variable, showing some improve¬
ment up to Tuesday morning, but since then weak and irregu¬
lar.
Partial rains have promoted threshing and enabled
farmers to sow their fall wheat, thus removing two elements of
very
•MM
1880.
1878.
1879.
bbls.
6,140,681
4,205,767
4,456,282
3,863,019
bush.
40,839,000
97,117,390
48,579,871
111.474,433
23.582.666
59,408,211
70,243,129
22,123,108
3,433,601
3,093,153
55.035,524
72,918,449
158,301.207
Comparative receipts (crop movement) at same
158,581.096
ports from
Wheat
Com
31,342,989
4,661,98o
1,718,060
Bye
rise in the
•
23,931
43,000
from Dec. 27 to Sept. 10, inclo
Total grain
....
175,679,419
3.310,284
2,127,099
189,074,353
prices of flour have had a hardening tendency in our
inclusive for four years: '
during the past week, and yet no important advances August 1 to Sept. 10,1881.
1879.
1880.
can be quoted, as shippers and dealers have united in limiting
711,349
836,405
bbls.
Flour
1,022,530
their purchases to their immediate needs. Still, stocks are not
19,410.336
15,629,146
hush. 11,415.577
Wheat
14,403,913
26,214,276
20,793,185
well assorted, and flours from old winter wheat are notably Com
5,061,041
5,555,254
cause a
1,371
821.059 308,635 162.93d
913.080 229,000 99,116-
22,654,088
4,452.623
3,470,421
market
There has not been sufficient rain to
-3113
....9....
170,540
Total
148,499 1,693,258 4,136.016
Same time ’80. 125,510 1,938,749 2.351,010
Oats
Barley
scarce.
®106
® 44
® 52:
....®....
1.468
Flour
The
8 00
7 00
1 4712® 1 48
Sept. 10,1881:
613
Friday, p. M.. Sept. 16, 1881.
7 30
®138
porta
for the week ending
sive, for four years :
BRE ADSTUFFS.
® 1 50
(From the “ New York Produce Exchange Weekly.**)
6i932
6i532
61532
69, e
6i»32
Red winter
Red winter, No. 2
Western yellow..
Western white
3 60® 3 90
3 90® 4 00
Brandywine, <fcc....
®140
7 00® 8 00
7 25® 9 25
7 50
22
36
1 33
Spring
$1
Spring,No. 2..... 1
6 75® 7 00
6 35® 6 75
City shipping extras. 7 25®
Southern, bakers’ and
family brands
7 25®
South’n si ip’g extras. 6 60®
Rye flour, superfine.. 5 90®
Com meal—
Western, &c..
Wheat-
White
Corn—West, mixed.
West. No. 2
6 50®
_
6®s
5 10
5 70® 6 10
5 40® 5 80
0 15® 6 35
Spring superfine
Spring wheat extras..
St. Louis
6^8 June-July
Mar.-Apr
Grain.
$4 40® 4 80
Flour,
Gig
6iv32
Friday.
Sept
•- -7932® 14
Sept.-Oct.. .62332®ii16
closing quotations:
are
No. 2 spring...# bbl.
No. 2 winter
Winter superfine
Thursday.
Mar.-Apr
Apr-May
May-June
June-July
Sept
Sept.-Oct
Sept.-Oct
continues very scare.
corn
Flour.
Wednesday.
Mar.-Apr.. ..6i932®916 June-July
Apr.-M ay
6 ^ @ 1932 Nov.-Dee
Jan.-Feb
GSs
May-June
June-July
GHig Feb.-Mar
Oct.-Nov
Mar.-Apr
67^q
Mar.-Apr
61732 Apr.-May
June-July
..62i32 May-June
July-Aug
Sept
7532
“
6%
Tuesday.
Sept.
Sept.-Oct
by the chinch bug added to the prevailing drought,
injury to the crop prospect is shown by the state aver¬
ages, which are 58, 42 and 55 respectively.”
The Kentucky Commissioner of Agriculture says in his
report for August:
The rains were in time to greatly benefit late corn. Reports
from all quarters bear a more cheerful face, not only as regards
late corn, but the entire crops of the State. In most localities
where an early start was obtained pretty fair crops have been
6iii6
MONDAY.
Sept
Sept.-Oct
.
Rye has been dull. Barley has remained nearly nominal, but
d.
No. 1 Canada is reported sold for October delivery at $110.
61832®^ Oats advanced early in the week. To-day white oats were
6^
firmer, but mixed declined, with sales of No. 2 for October
62132 delivery at 43^@44c.
Apr.-May—... ..62332
7H32 1 Mar.-Apr
62332'S)3£ I Apr.-May
country is drought. New England has been less affected by it
than any other section east of the Mississippi, and reports an
average of ninety. In Wisconsin, Minnesota and most of the
Territories, there has been more seasonable weather, and the
condition of the crop is correspondingly better; but in all other
sections the reports show the effects of an unusually dry season.
From Illinois, Missouri and Kansas come serious complaints of
raised.”
steady.
The actual sales of futures at Liverpool for the same week are given
“below. These sales are on the basis of Uplands, Low Middling clause,
unless otherwise stated.
SATURDAY.
Delivery.
Sept
Sept.-Oct
for November. •
Indian corn has been very strong, but yesterday declined
The report of the Agricultural Bureau for the 1st of Sept, said:
“
The general average condition of the corn crop on Sept, 1
was 60, being 17 per cent lower than the month previous and.
31 per cent lower than a year ago at the same date. The cause
of the low condition existing in almost every section of the
and the
Futures.
Market,
important change is the weakening of the belief in an import¬
ant rise, at least during the autumn and winter months?
To-day the opening was somewhat depressed, but the close was
stronger, with No. 2 red selling at $1 48 for October and $1 51
ravages
)
$
Market,
•
Thursd’y.
steady.
and
7516
Wednes.
Dull
and
easier.
Quiet
Firm.
Tuesday.
[Vol. XXXH1
4,889,375
Oats
670,692
718,673
Barley
Rye.......
704,548
992,864
734,745
1,181,617
1878..;
666,369
21.078.53T
20,414,288
8,993,047
1,521,772
1,411.112
52,518,756
shipments of flour and grain from the same
Total grain..- * 43,908,593
43,416,878
41.049.771
Comparative
from Dec. 27 to Sept. 10, inclusive, for four years:
pons
1881.
1880.
47,652,746
52.449.094
95,720,217
62,548,936
16,219,986
2,352,351
45.771,505
61,648,457
6,153,193
3,110,418
Wheat
Com
Cats
bush.
38,016.053
81,212,168
25,613,798
2,328,515
1,369,127
1878-
4,061,199
bbls.
Barley
Rye
1879.
4,840,552
Flour
19,351,826
1,875,095
15,487,606
1,920.996
2,570,157
1,845,750
2/834,511
strength. The export demand has continued moderate, and
under a pretty free movement stocks have accumulated. But
Total grain
148,539,661 166,445.634 136,454.878 122,398,726
it has not been found easy to force down prices; confidence in a
Rail shipments from Western lake and river ports for the
comparatively high range of values has not abated; the only weeks ended:
....
THE CHRONICLE.
17 1881. |
September
1881.
1880.
1879
IF etk
Week
Week
Week
Sept. 10.
114,187
Sept. 11.
102,669
Sept. 13.
Sept. 14.
459,130
1.121,414
682,494
303,628
329,803
754,274
112,927
60,519
73,739
585,886
257,396
349,739
137,577
28,368
347,956
217,315
353,321
63,016
40,973
2,436,514
1,504.145
1,358,966
1,022,531
.
bbls.
bush.
Wheat
Burley
Total....
1878.
110,411
37,701
factured goods of
desirable character has rareljr been so
season as at present.
Domestic Cotton Goods.—The
exports of cotton goods during
the week ending September 13 were
only 1,103 packages,
shipped as follows : Brazil, 498; Hayti; 164; Great Britain,
98; Hamburg, 82; British Honduras, 82; Peru,
47, etc. There
was a
moderately increased demand for plain and colored cot¬
tons at first hands, with considerable transactions in
brown and
bleached goods. Prices ruled very firm, and while orders
for
Flour,
oois.
Week
Sent.
Hfc.
Ai\l
Avl
10... 145.589
3.. .166.001
27...1S3.743
20...172,177
Wheat,
Corn,
bush,.
bush.
hush.
3.572,331
853,127
673,170
689,984
797,876
1,375.533
1,520,956
1,411,102
1,231,891
Oats,
91,479
2,721,816
4.127.570
3,334,930
Barley,
bush.
Rye,
hush.
112,927
60,519
123,851
61,736
41,864
23,492
9,698
a
light at this stage of the
Rail and lake shipments from same ports for last four weeks:
enaiuit—
313
many fabrics are now accepted “ at value ” only, advanced
quo¬
tations were made on some well-known makes of brown
and
bleached goods, wide
sheetings, etc. Atlantic D and P, Law¬
LL, Tremont CC, Boott C and Mystic River brown sheet¬
ings were severally marked up %c. per yard, and a like advance
was made on such
popular bleached goods as Hope, Blackstone
AA, Fitchville, Greene G, etc. Print cloths advanced to 3 15-16c.
cash for 64x64s, and some sales were made at that
price; but at
34,741
rence
4wks.667.510
Tot
5,539,482 13,759,730 3,014.157
269,968 198,860
4w;ks’80..567.516 7,419,504 13.093,959 3,612.578 194.924 458,554
Receipts of flour and grain at seaboard ports for the week
snded Sept. 10:
Flour,
bbls.
103.468
At—
New York
Boston
Portland
...
..
59,833
..
bush.
17,658
..
Corn,
Oats,
bush.
12,380
294.943
266,400
3
407,600
Barley,
bush.
1,531,196 1,178,139
77,700
254,680
2,750
..
....
Montreal
Wheat,
hush.
255,792
164,025
Rye,
bush.
the close of the week these goods were offered at 3 15-16c. less
one-half of 1 per cent, and 56x60s were firm and
unchanged at
19,296
900
16,000
5,250
103,476
241,100
496,000
6,030
13,850
1,250
12,200
23,000
2,300
3%c.
Prints and ginghams were in steady demand at first
jobbers.
11.493
New Orleans.
29,217
46,583
Domestic Woolen Goods.—As indicated
above, there was an
227,230 2.607,056 2.300,425
Total week.
520,700
improved
inquiry
for
light-weight
251,062 3,425,712 3.389,675
Bor. week ’80
cassimeres, suitings and
527,963
2,l02 55,216
worsted coatings by the
Total receipts at same ports from Dec. 27 to
clothing
trade,
resulting in a pretty
Sept. 10, inclu¬
sive, for four years:
good business for future delivery. Heavy cassimeres and
1881.
1880.
1879.
1878.
worsteds were mostly quiet as regards new
Fiour
bbls.
8,893,450
transactions, but
6,826,153
7,118,181
6,122,616
considerable deliveries were made
agents
in execution of
by
Wheat
busli. 68,778,186
85.634,112
91,257,824
67,553,729 back
orders,
and
desirable
fabrics
Coru.
78,343.454 106,977,417
ruled
79,747,176
steady in prices*
80,955,732
Oats
19,887,005
16,332,110
15,548,412
16,333,206 Cloakings were only in moderate
but
some large sales
request,
Barley
2,029,758
1,595,600
1,779,708
2,493,275
of cotton warp beavers were effected
Rje
931,986
1,300,920
2,789,086
3,260,955
by means of very low
Kentucky jeans were in moderate demand and steady,
Total*rain
170,020,389 221,840,459 191,122,206 170,596,897 prices.
Exports from United States seaboard ports and from Montreal some of the lower grades having appreciated about 5 per cent.
Cor week ending Sept. 10, 1881:
Flannels and blankets continued to move
steadily on old orders
Flour,
Wheat,
Corn,
and
Oats,
Peas,
are
prices
firmly
maintained
on
leading
makes. For worsted
bids.
From—
bush.
bush.
bush.
bush.
bush.
dress goods there was a fair re-assorting demand, and such was
New York
89,410 1,344,505
283,243 19,313
2,505
Boston
27,762
78,211
281,079
32
the case with shawls, skirts, carpets and knit underwear.
Portland
Montreal
14,433
261,008
Foreign Dry Goods were jobbed in liberal quantities,
93,285
5,321
and
1,161
Philadelphia..
127,336
73,658
there
was a steady inquiry for most
Baltimore
descriptions of seasonable
3,742
195,471
112,147
New Orleans..
60
goods at first hands. Silks, satins, velvets and plushes were
74,000
150
fairly active, and there was a steady business in cashmeres and
Total for w’k 136,618 2,083,53 l
S 13,862
21,631
2,537 fancy dress fabrics. Linen goods and embroideries met with con¬
Same time’80. 142,021 2,777,753 2,274.106
6,135 94,743
2,993 siderable sales, and lace
curtains, curtain nets and imitation
The visible supply of grain,
comprising the stocks in granary laces were in improved demand. Fancy ribbons were in
at the principal points of accumulation at lake and
ggod
seaboard
request, but plain ribbons were mostly quiet.
ports, and in transit by rail and water, Sept. 10, 1881, was as
Importations of JDry Goods.
*
follows:
'
The importations of dry goods at this port for the week
Wheat,
Corn,
Oats,
Barley,
Rye,
In store at—
hush.
bush.
bush.
ending Sept. 15,1881 and since January 1, and the same facta
bush.
hush.
New York
4,460,720 3,566.973 2,523,351
for the corresponding periods of 1880, are as follows:
6,841
47,897
Do. afloat (est.)
666,000
PhiladelphiaBaltimore....
..
..
9,598
..
hands and active with
4,000
..
..
....
-
•Albany
17.000
Buffalo
Chicago
Milwaukee
275,683
4,120,407
287,100
162,877
1,101.236
Duiulli
Toledo
Detroit
Oiwejro
fit. Louis
Boston
TmiomTo
Mor.tr.iiii (Is!).
37,500
700,000
5,933,595
8,961
12,500
14,613
943,032
1,761
268.978
44,282
11.651
•
iuuialiapolis
Kansas City
Down Miss’pi
On i ail
On lake
On canal
69.526
286.018
19,579
1.520
709
27.967
63,774
55.872
949.574
10.091
239.343
372,000
2ul ,600
866,103
113.961
120,4 65
57,200
83,060
1,072.607
42,415
21,002
2.837,628
3,411,000
1,189,227
907,965
178,00.)
568,502
19,507,048 22,657,173 7,067,456
18,427,808 19.620,137 6,917,205
17,559.016 17,354,970 7,780,767
17,405,069 16,045,101 7,259.348
14,147,013 18,700,809 1,513,861
There has been
GOODS
•—
w
651.672
very
on
p
account of back
required. Spring woolens have been more
sought for by the clothing trade, and in this connection some
liberal orders for
fancy cassimeres, suitings, worsted coatings,
were placed with
manufacturers’ agents. Save in a few
exceptional cases, ©rices are
very firm, and the supply of manu¬
CO©
- I ©. —
© »0 to © <1
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to
•
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©■X
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334,215
i 4-05
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65,719
348,554
330,318
298,728
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10,081
510.672
c
oc
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2,100
155.841
125,377
104.784
©.
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00
97,425
370,833
a
*»-! •
*46
645,309
.
o
P
-+
ft
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<5
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94
358,732
.
£* •
!
43,543
TRADE.
that agents are unable to make
deliveries
orders as fast as
S
p '
500
112,927
©
cl
C
2,000
297
gn
gl
a
satisfactory movement in dry goods
the past week. There
was, perhaps, a slight abatement of the
activity lately noticed in the jobbing branches of the trade—
many buyers having completed their purchases and returned
home, but a very good business in both staple and department
goods was reported
by most of the leading jobbers. There
.was a fair demand for
cotton goods at first handstand jobbers’
stocks have been so
greatly reduced within the last few weeks,
Si
p
ms?
p '
c
Friday, P. M., Sept. 16, 1881.
a
c
430
2,603
h
cSI
A
P
5,496
Tut. Sept. 10, ’81.
19.848,526 21,083,001 6,789,859
DRY
H
36,163
102 823
1,4 26,000
THE
23.161
1,802.101
1,002,830
Sept. 3,’81
Ang. 27, ’81
Aug. 20, ’81
Aug. 13.’81
Sept. 11,*’80
237,980
90.000
307,076
1,644,986
Baltimore
64,854
75,000
811.389
789,457
16,600
64,000
101,686
6.249
124,850
..
1,S00
836.892
58.303
Philadelphia
Peoria
1,300,000 1,115,000
to
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THE CHRONICLE.
314
Holt,
WALL
10
NEW YORK.
TRANSACT a GENERAL BANKING business.
DEPOSITS received and INTEREST allowed on
busi¬
in Railway Shares and Bonds and Government
Transact a general banking and brokerage
ness
Lapsley, Field & Co.,
STOCK
and Boston
GEO. H. HOLT
G. E. TAINTOR.
R. T. Wilson &
Co.,
BANKERS AND COMMISSION MERCHANTS
2 Exchange Court* Now York.
C. M. Rutter,
Member of N. Y. Stock Exchange.
Interest allowed on
No.
deposits.
NEW YORK.
No. 80 BROADWAY,
But and Sell on Commission, for cash or on mar¬
gin, all Securities dealt in at the New York Stock
Rxchange. Interest allowed on daily balances.
Particular attention paid to orders by mail or tele¬
graph.
F. E.
C. I. Hudson &
Trowbridge,
& CO., WASHINGTON, D. C
General Banking Business Transacted.
Securities bought and sold on
margin.
Advances made
Stock Exchange.
R. R. Lear
|C. I. Hudson,
T. H
Member N.Y. Stock Exch.
approved collateral at the
market rate.
.
,
.
A
Deposits received subject to check at sight.
interest allowed on all daily balances.
Orders executed at London, San Francisco, Bos¬
ton, Philadelphia and Baltimore Exchanges.
P. 8.—My New York Weekly Financial Report is
mailed free of charge on application,
4 per cent
R. A. Lancaster &
Lloyd & McKean,
Gilman, Son & Co.,
BANKERS,
STREET.
CEDAR
and sell Government Bonds and
—BARKERS25 fiNe §t. - f£euJ$>RtG
Purchase and sell
BANKERS,
UNITED BANK BUILDING,
WALL STREET, COR. BROADWAY.
STOCKS, BONDS & COMMERCIAL PAPER.
Stocks and Bonds bought and sold on commission
at N. Y. Stock Exchange.
Advances made on business
paper and
other
securities.
James Kitchen,
BROKER
COMMISSION
IN
UNCURRENT
INVESTMENTS,
Securities.
70
CEDAR
and
P. O. BOX 3413.
bought and sold in the OPEN MARKET. LOANS
negotiated. Interest
paid on DEPOSITS, subject to check.
and COMMERCIAL PAPER
NEW YORK:
Geo. W. Cecil,
Member N.Y. Stock Ex.
M. Zimmerman.
BANKERS AND
7 Wall
Co.,
BROKERS,
Sti, Cor. New, New York.
INVESTMENT
Cecil,Zimmerman & Co.
BANKERS
Prince &
Whitely,
64 BROADWAY, NEW YORK,
(Branch Office, 180 Fifth Avenue).
All classes of Railway and Mining Stocks bought
No
and sold on Commission.
Private Telegraph Wires to
Philadelphia. Wilming¬
ton, Baltimore, Washington, Boston, Bridgeport
J. D. Probst & Co.,
AND
BOND
BROKERS
cG Co.
BANKERS,
No.
IS
WALL STREET,
New York.
Transact a General Banking Business, including
the purchase and sale of STOCKS and BONDS for
cash or on margin.
STOCKS and BONDS
At Auction.
The Undersigned bold REGULAR AUCTION
SALES of all classes of
STOCKS
Volume 1,1865; Volumes 2,4,8 and 10, and suceeding Volumes down to 1878.
Apply at Publica¬
tion Office, 7» & 81 William Street.
AND
Bay and Sell Investment Securities.
Wavland Trask.
W. C. Hill.
WEDNESDAYS
H. J. Morse
ADRIAN II.
No. 7 PINE
Scranton &
BANKERS
AND
Willard,
PRIVATE wires to
,
l3oodt|t
3 Pine
BANKERS,
58
Broadway,
cor.
Exchange Place,
TRANSACT A GENERAL BANKING BUSINESS
INCLUDING THE PURCHASE AND SALE OF
STOCKS AND BONDS FOR CASH OR ON MAR.
BUY AND SELL COMMERCIAL PAPER.
P. O. Box 447.
D. A. BOODY.
C. W McLellAN, JR
Reuben Leland.
F. G. Saltonstall.
GIN.
& SON
STREET, NEW YORK.
BROKERS,
Street, New York.
Buy and sell on commission all Securities dealt in
at the New York Stock and the New York Mining
Exchanges. Deposits received and interest allowed
on
balances.
Samuel A.
30
Ms Uef fan
&
MULLER
BANKERS AND
Windsor Hotel,
Cumberland,
Delmonico’s,
Gilsey House,
Philadelphia,
Boston,
Saratoga,
Newport.
Correspondents. — Bartlett, Westcott ft Co.,
Utica; Westcott ft Co., Syraouse; Westcott, Myera
ft Co., Buffalo; J. T. Lester & Co., Chicago; Emery
ft Hodges, Boston.
SATURDAYS.
AND
Clark & Bacon,
BROKERS,
72 BROADWAY, NEW YORK.
BONDS
ox
P. O. BOX 2,647.
A. M. Kidder.
Stocks, Railroad Bonds, Governments and
Miscellaneous Securities Bought and Sold
at.ex. s. Clark
H. B. Bacon.
WANTED.
WINTRINGHAM,
NEW YORK.
No. 52 EXCHANGE PLACE, NEW YORK.
Chronicle Volumes
P.
No. 36 PINE STREET,
and New Haven.
STOCK
BROKERS,
NEW YORK
SECURITIES.
-
AND
74 BROADWAY, NEW YORK,
69 WEST THIRD ST., CINCINNATI, 0,
6peclal attention to business of country banks.
J D. Prince, Jas. Whitely, H. Cruger Oaklet
harry C. Logan,
Maynard c. Evrb.
1
W. R. Travers, Special Partner.
W. M. Wilshirx.
securities bought at the auction sales.
COURT.
A. H. Brown &
CINCINNATI, 0.:
W. P. Thomas.
GAS, INSURANCE, BANK STOCKS, Ac.
BROKERS,
Stocks, Bonds and all Investment Securities
bought and sold [strictly on commission] for cash
or on margin.
Commission GOVERNMENT
STOCKS, and all
classes of Securities dealt in at the NEW YORK
STOCK EXCHANGE, or all reputable Securities
J.
Floyd-jones & Robison,
EXCHANGE
on
RAILROAD BONDS and
STREET,
William Robison,
Yf. C. Floyd-jones,
Members of the N. Y. Stock Exchange.
2
STREET.
F. W. Perry,
(olXi^s.pouDEj^&Je]VI(INS(
80U1HERN SECURITIES A SPECIAL 1T.
LOANS NEGOTIATED.
Interest Allowed on deposits.
No.
EXCHANGE
WALL
2
Investment securi¬
Co.,
SECURITIES,
Government Securities.
Business, buj
P. W. Gallaudet &
NEW* YORK.
York City, Chicago, Cincinnati, St,
Louis, District of Columbia, and
FOREIGN
ties.
GOVERNMENT BONDS, STATE. CITY, COUNTY
RAILROAD ft MISCELLANEOUS SECURITIES
Bought and Sold on Commission.
Virginia Tax-Receivable Coupons Bought.
New
J. H. Latham.
DEALERS IN
AND
STREET,
WALL
J. H. Latham & Co.,
Buy and sell—on commission—Government, Rail¬
and Miscellaneous Securities. Receive deposits
subject to check, and allow interest on balances.
Co.,
BROADWAY, NEW YORK,
BANKERS
15
INVESTMENT
way
62
*
BROKERS,
No
34 WALL STREET, NEW YORK.
BANKERS AND BROKERS,
First-Class Investment
Schley,
Curtis.
W. C. McKean
Joseph P. Lloyd.
Member of N. Y. Stock Exch’ge
commission for cash
or on
on
Groesbeck &
Street.
Buy and sell on commission, for investment or on
margin, all securities dealt in at the New York
In addition to a General Banking
YORK.
Member of the N. T. Stock Exchange.
Branch Office :
BATEMAN
YORK,
Ernest groesbsck,
grant b. Schley,
Members N. Y. Stock Exchange
at the “Cumberland,” Broadway and 22d
OR 27 WALL STREET,
NEW
Co.,
Branch Offioe and Private Wire
BANKER AND BROKER,
No. 5 BROAD
STREET,
New York.
8 EXCHANGE COURT, NEW
BROKERS,
AND
WALL
5
W. n. walker.
Walker,
Rutter &
BANKERS
BROKERS,
securities.
MUNICIPAL and
Buy and sell GOVERNMENT,
RAILROAD bonds.
Private telegraph wires to Providence
66
Special.
Investments carefully attended to.
balances.
A
No. 45 WaU Street
(Established 1854.]
STREET,
Howard Lapsley,
D. Seymour Willar*
Members N. Y. Stock Exchange/
Cyrus W.
7. Field, Jr.
Cyrus W. Field
Gwynne & Day,
BANKERS,
No.
Financial.
Financial.
Financial.
Taintor &
[Vol. xxxin.
PINK
Strang,
STREET, NEW YORK,
BANKER
AND
COMMISSION MERCHANT,
Bays and sells Investment Securities. All busi¬
ness
connected with railways undertaken.
Swan &
BANKERS
Barrett,
AND
BROKERS,
186 Middle Street,
PORTLAND,
MAINE.
Dealers in Government, State, County,
Railroad Bonds, Bank Stocks, &c.
Desirable
hand.
City and
Investment Securities constantly on
@FedFRASER