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THE CHRONICLE;
■Septem ber 22, 1883.]
mxtl
gatxLcrs attd %xtihzxs.
T. C . W a lc o tt & C o . j
W m.M. EARL,Memb. N. Y. St’ck Ex. G. H. Sta y n e r ,
A. H. Dayton .
Special.
A. H. Mure .
J
BANKERS AND BROKERS,
Transact a General Banking Business
Stocks and Bonds bought and sold on Commission.
■Orders received in Mining Stocks, and in Unlisted
•Securities. Collections made and Loans Negotiated.
Dividends and Interest Collected.
Deposits received subject to Draft.
Interest Allowed. Investment Securities a Specialty.
We issue a Financial Report Weekly.
B AN K ER S
AND
B R O K E R S,
55 TO 59 DREXEL BUILDING,
N ew l o r k .
STOCKS
Sherman S. J ewett , Pres. J osiah J ewett ,Y-Pree
W il lia m C. Cornw ell , Cashier.
Bank o f Buffalo,
Earl & D ayton ,
N o. 2 4 P in e Street, N ew Y o r k .
in
AND BONDS BOUGHT AND SOLD
STRICTLY ON COMMISSION.
CAPITAL,
$300,000.
BUFFALO, N. Y.
This bank has superior facilities for making colon all accessible points in the United
States, Canada and Europe. Liberal terms extended
to accounts of bankers and merchants.
‘ : •- '
t S + l S'Î!do0Î I) tNTSA_ n ??’ York, National Shoe &
Leather
Bank; London, Union Bank of London.
B ra n c h Office, 3 2 0 B r o a d w a y .
Connected by Private Wire.
JOS. C. W alcott ,'
l Members of the N. Y. Stock
F r a n k F. Dickinson , i and Mining Exchanges.
St e w a r t B r o w n ’s S o n s ,
No'. 38
H atch & Foote,
B A N K E R S , No. 1 2 W a ll Street, N. Y .
We make U. S. Bonds and Investment Securities a
specialty, execute orders in STOCKS and BONDS
fo r cash or carry the same on margin. We transact
a general BANKING business and ALLOW INTER
EST on DEPOSITS. Branch Offices, connected by
private wire, Norwich, Conn., Gloucester, Mass., and
181 Devonshire Street, Boston, Mass.
H enry Bros. & W arfield,
BROKERS IN
STO CKS A NO BONDS, U N L IS T E D
S E C U R IT IE S AND M IN IN G STO CKS,
No. 52 BROADWAY.
Douglas H en ry ,
Charles Seton h e n r y ,
member N.Y. Stock Ex. Member N. Y.Min. Stock Ex.
Da n ie l W arfield .
- I.
F . M ead &
C o .,
STOCK BROKERS,
SO B R O A D W A Ï , N E W Y O R K .
Branch Office with Private Wire at 28 West TwentyThird Street.
Buy and sell on commission for investment or on
margin, all securities dealt in at the New York Stock
Exchange.
R. R. L e ar .
I. F. Mead ,
T. H. Gurzis .
Member N. Y. Stock Exeb.
W alston H. Brown .
Fred . A. Brown .
H erbert p . Brown .
P IN E
Blake
STR EET,
Brothers &
W m . F . H um bert & C o .,
S olicit accounts and agencies of Banks, Railways,
Corporations, firms and individuals, upon favor
able terms; also orders for the purchase and
BANKIERS * AND BROKERS,
No. 7 N assau Street, N ew Y o r k .
W m. P. H umbert ,
Edw ard S. Benedict .
Member N.Y. Stock Exch’ge,
Member N.Y. Produce Exch’ge.
W illia m
Pollock,
MEMBER NEW YORK STOCK EXCHANGE,
RANKER
AND
BROKER,
25 PINE STREET, NEW YORK.
Buys and sells on commission, or carries on margin,
all securities dealt in at the New York Stock Ex
change
Wm . D. Hatch ,
W m . B. K en d all .
Member N. Y. Stock Exch.
d'Cct/tcfi 8c cffewbcM,
No. 31 W A LL STREET,
BANKERS
AND
BROKERS,
Refer to Messrs. F isk & H atch .
sale of Bonds, Shares, &c., &c., on Commission
on the Stock Exchange.
Negotiate Railway, State and City Loans and
issue Commercial Credits available in all parts of
the world.
Nederlandsch Indische
Handelsbank,
AM STERD AM ,
P a id -U p C apital, 1 2 ,0 0 0 ,0 0 0 G u ild ers
($ 4 ,8 0 0 ,0 0 0 G old .)
HEAD OFFICE IN AMSTERDAM:.
Agencies in Batavia, Soerabaya and Samarang.
Correspondents in Padang.
Issue Commercial credits, make advances on ship
ments of staple merchandise, and transact other
business of a financial character In connection with
the trade with the Dutch East Indies.
BLAKE
BROTHERS
B A N K E R S
AND
COMMISSION
B A N K E R S ,
N o.
18
W A LL
STR EET,;
New Y o r k ,
Transact a General Banking Business, including
the purchase and sale of STOCKS and BONDS for
cash or on margin.
R a ilroa d & M iscellaneous Securities.
Southern Securities a Specialty.
A. M. K idder ,
Read & Stafford,
All securities dealt in at the New York Stock Ex
change bought and sold on commission for cash pi
upon margin.
J. E. R ead .
W. F. Stafford ,
Member New York Stock Exchange
Members New York and Chicago Stock Exchanges
also New York Mining Stock Exchange.
R o l s t o n & Bass,
20
BROAD
BANKERS,
STREET, N EW
(oUjfJS.JkîUDEJ'i ^J ejo^ins,
2 5 f lN £ §T . -
r£ew yO R K >
Purchase and sell on Commission GOVERNMENT
and RAILROAD BONDS and STOCKS, and all
classes of Securities dealt in at the NEW YORK
STOCK EXCHANGE, or all reputable Securities
bought and sold in the OPEN MARKET. LOANS
and COMMERCIAL PAPER negotiated. Interest
paid on DEP081TS, subject to check.
B A N K E R S ,
—Railroad bonds a specially.—
38 Broadway, cor. Exchange Place, N. Y
—Investors are invited to correspond.— •
Branch Office, 128 La Salle St., Chicago.
—Information cheerfully given.—
—Fourteen years’ membership inStock Exchange.— TRANSACT A GENERAL BANKING BUSINES8,
—Orders by mail solicited and promptly attended to. INCLUDING THE PURCHASE AND SALE OF
STOCKS AND BONDS FOR CASH OR ON MAR
GIN. BUY AND SELL INVESTMENT SECURI
TIES. INTEREST ALLOWED ON DEPOSITS
SUBJECT TO CHECK AT SIGHT.
50 EXCHANGE PLACE,
P. 0. Box 447.
D A. BOODY,
C. W. McL ellan J r .
B rokers in Railroad Stocks and Bonds,
R euben L b lan d .
GOVERNMENTS <fc FOREIGN EXCHANGE.
C hab . k . r a n d a l l ,
Otto C. W eirum .
Member N. Y. Stock Exchange.
BRANCHES:
I Tottenham. Court Road
Paddington,
I Aldgate,
I Old Street,
London.
The Bank, while conducting the general business
o f London Bankers, gives special attention to. the
Agency of Foreign and Colonial Banks.
A. G. KENNEDY. Manager. M
THE
Bond Street,
LuagateHill,
Knightsbridge,
Holborn,
A n glo -C a lifo rn ian Bank
(LIMITED).
LONDON, Head Office, 3 Angel Court.
SAN FRAN CISCO Office, 422 California, St.
N E W Y O R K Agents, J. & W. Seligman & Co.
BOSTON Correspondes, Massachusetts N. Bk.
18 W a ll Street. N ew Y o r k .
W ie ru m ,
BANKERS AND BROKERS,
o. 24 B R O A D S T R E I T , }
N ew Y o r k .
Bank,
(LIMITED,)
LONDON, EN GLAND.
Morse.
V O IS K '
H ow ard Lapsley & C o .,
City
Authorized Capital, - - - - - £4,000,01)0
subscribed Capital, - - - - - - 4 ,0 0 0 ,0 0 0
Paid-Up Capital, - - - - - 1,000,0 00
Reserve Fund, £ 5 0 0 ,0 0 0 .
HEAD OFFICE, THREADNEEDLE ST.
h . j.
W m . Elliman .
&
The
P. 0. BOX 2,647.
w a y l a n d T rask ,
W. C. H ill .
Buttrick & E llim an,
R andall
N. Y. Correspondents—Messrs. Blake B ros. & Co.
B u y a n d Sell In vestm en t Securities.
Stocks, Bonds and Miscellaneous Securities.
•Correspondence Solicited.
Quotations cheerfully furnished.
C. A. Buttrick .
MERCHANTS,
AMSTERDAM, HOLLAND
BROADWAY AND W ALL STREET, NEW YORK
DEALERS IN
B A N K E R S AND B R O K E R S,
m i l s B u ild in g , N ew Y o r k .
CO.,
A d o lp h Boissevain & C o .
R . A . Lancaster & C o .,
BUILDING,
&
{A gents for North A merica ,
S E C U R IT IE S .
BANK
HOLLAND.
E stablished in 1863.
18 WALL STREET, NEW YORK.
28 STATE STREET, BOSTON.
■SPECIAL ATTENTION GIVEN TO THE NEGO.
TIATION OF
BANKERS AND BROKERS,
C o .,
L O K D O I, E X G L A X D ,
BANKERS,
N o. 2 0 Nassau Street, N ew Y o r k .
UNITED
g a x x iu m
NEW YORK.
Stocks and Bonds bought and sold on Commission.
W alsto n H . Brown & Bros
R A IL R O A D
Ifo r iig tx
BANKERS,
UNITED RANK B U IL D IN G ,
W a l l Street, Corner B r o a d w a y .
STOCKS, BONDS £ COMMERCIAL PAPER.
Stocks and bonds bought and sold on commission at
New York Stock Exchange. Advances made OHbusi
ness paper and other securities.
A u th orized C apital, P a id -u p C apital, - Reserve F u u d , - - - ■
$ 6 ,0 0 0 ,0 0 0
■ 1 ,5 0 0 ,0 0 0
- 3 5 0 ,0 0 0
Transact a general hanking business. Issue Com
mercial credits and Bills of Exchange, available in all
parts of the world. Collections and orders for Bonds,
Stocks, etc., executed upon the most favorable terms
FRED’K F. LOW, _ ( Managers.
IGNATZ STEINAAltT, Sma £e S^
P.N. LILIENTHAL, Cashier.__________ ..'•’ ■'v-JA
Bank o f Australasia,
(INCORPORATED 1835.)
4 Ih rc a d n e ed le St., L o n d o n , E n g la n d
PAID-UP CAPITAL, £1,200,000. i
UNDIVIDED PROFITS (including Guarantee and
Reserve Funds), £479,3<6.
Letters of Credit and Drafts issued on the 110
branches of the Bank in the Colonies of Qucenslai d,
New South Wales, Victoria. South Australia, Tasn ania and New Zealand. Bills negotiated of sent or
Collection. Telegraphic Transfers made. Depo its
received In London at interest for fixed periods on
terms which may he ascertained at the office.
THE CHRONICLE.
IV
IföTjciflt* gmxfcjers.
G a m d m t x
gcxxxxsxxlxratxia gaixkcus.
g a x x iiv m
Jos. M. Shoemaker .
Bankvereeniging,
C A P IT A L (paid u p ), - - - $ 1 ,5 0 0 ,0 0 0
SU RPLU S, - - - - - - $ 6 7 8 ,0 0 0
H. S. HOWLAND, Pres’t.
B . W. B LIJ DEN STEIN & CO.,
A IK S T E B D A M , . . . .
H ea d Office, A m sterd a m .
BRANCHES:
(London—EXCHANGE & INVESTMENT BANK,
B. W- Blijdenstein & Co.
Nos. 55 & 56 Threadneedle Street, E. C.
Paris—A ncienne Maison L eon & Dreher ,
COMPTOIR DE CHANGE, LIMITED,
112 Rue de Richelieu.
R o t t e r d a m -D E WISSEL- en EFFECTENBANK.
Pnseh.Oi.le—B. W. BLIJDENSTB1N, Jr .
A lm e lo -LEDEBOER & CO.
Transact a general Banking and Commission Busi
ness in Bills, Stocks, Shares, Coupons, Ac.
New Y ork Correspondents :
Messrs. KNAUTH, NACHOD & KÜHNE
D. R. WILKIE, Cashier
B E A D O F F IC E , TO RON TO .
BRANCHES:
H O L ÎiA N B .
E stablished 1861.
w
Subscribed Capital, 8,000,000 —Guilders ($3,200,000.—)
Paid-Up Capita], 7,801,700— “
($3,144,680.-)
(Reserve Fund,
1,25S,874 34 ' “
($ 503,550.—)
3t. Catharinès, Port Colbome, St. Thomas, Ingersoll,
Welland, Fergus, Woodstock,Winnipeg, Man,,
Brandon.
Dealers in American Currency & Sterling Exchange.
Agents in London :
I Agents in New York:
Bosanquet, Salt & Co., I Ba n k or Montreal ,
73 Lombard Street.
I
59 Wall Strëet.
Promptest attention paid to collections payable in
any part of Canada.
..
Approved Canadian business, paper discounted at
the Head Office on reasonablej terms, and proceeds
remitted by draft on New YOTk.____ _____________
Gzow ski 6c Buchan,
b a n k e r s
a n d
sto c k
b r o k e r s
TO R O N TO , CANADA.
C O R P O R A T IO N .
CAPITAL (paid-up)......... ........................ . $6,250,000
RESERVE FUND...................................... 3,500,000
HEAD OFFICE, HONG KONG.
The Corporation grant Drafts, issue Letters of
Credit for use of Travelers, and negotiate or collect
Bills payable at Bombay, Ga.cutta, Singapore, Saigon
Manila, Hong Kong, Foochow, Amoy, Ningpo,
Shanghai, Hankow. Yokohama,1H iogo, San Francisco
and London.
f l e w
g tx flla ix fl
g a u k e r s .
6c Estabrook.
35
CONGRESS S T R E E T ,
BO STO N .
E . W u th m an n & C o .,
Bank o f M ontreal.
C A P IT A L , - SU RPLU S, - -
-
$ 1 2 ,0 0 0 ,0 0 0 , G old.
$ 5 ,7 5 0 ,0 0 0 , G old
C. P SMITHERS, President.
. W. J. BUCHANAN, General Manager
NEW YORK OFFICE,
N os. 59 & 61 W A L L S T R E E T .
W A LTE R W ATSON, ?
A l e x ’r L ang ,
) Agents.
Buy and sell Sterling Exchange, Francs and Cable
Transfers; grant Commercial and Travelers’ Credits,
available in any part of the world; issue drafts on
and make collections in, Chicago and throughout the
Dominion o f Canada,
ALSO,
D ealers in M u n icip a l, State, R a ilro a d
an d U nited States R o n d s.
Bank o f Deposit,
8 1 Devonshire *fc 20 W ater Sts.,cor.opp.P .O
B O S T O.N .
Interest on deposits subject to eheck.
Bonds and other investments bought and sold.
: Correspondence invited.
Orders executed at Boston and New York Stock
Exchanges, o f which we are members.
F . A . H aw ley 6c C o .,
RANKERS.
OF
Bank
CANADA.
Capital, * * • $5,700,000 Paid Up.
Reserve, - - • • • $1,150,000
President, ANDREW ALLAN, Esq.
Vice-President, ROBERT ANDERSON, Esq. '
(Formerly Chas . A. Sweet & Co.),
BAN K ERS AND
The New York Agency buys and sells Sterling Ex
change, Cable Transfers, issues Credits available in
all parts o f the world, makes collections in Canada
ana elsewhere, and issues Drafts payable at any of
the offices of theibank in Canada. Every description
of foreign banking business undertaken.
N eW IT ork A gen cy, N o. 61 W a l l Street.
(A
HENRY HAGUE,
JOHN B. HARRIS. JR.,
AGENCY
B
a
OF
n
) A__nt,
) Agents.
THE
k
OP
B r itish N o r th A m e r ic a ,
N o. 5 2
W ALL
STREET.
Buy and sell'Sterling Exchange and Cable Trans
fers. Issue demand drafts on Scotland and Ireland,
a l s o o n Canada, British Columbia, Portland, Oregon'
San Francisco and Chicago.
C I R C U L A R N O TE S issued in Pounds Sterling
available in all parts of the world.
Bills .collected and other hanking business trans
lated.
D. A. MCTAVISH, } A_pnts.
H. ST1KEMAN, ) Agents.
BROKERS,
N o. 4 0 S T A T E S T R E E T ,
B O S T O N , M ASS.
Dealers In Municipal. State and Railroad Bondi. •
Joshua W ilbour ,
Charles h . Sheldon , Jr .
Benjamin A. Jackson , W illiam Bin n ey , Jr .
W ilb o u r, Jackson 6c C o .,
Dealers In all issues of United States Bonds. Invest
ment Securities a specialty. Correspondence Invited
and full information upon financial subjects furnished
E.
W.
Clark
6c
C o .,
RANKERS,
No. 35 South Third Street, Philadelphia.
DEALERS IN CAR TRUSTS AND OTHER IN
VESTMENT SECURITIES.
Stocks and Bonds bought and sold on Commission
Narr
6c Gerlach,
B A N K E R S AND B R O K E R S ,
No. 322 CHESTNUT STREET,
P H IL A D E L P H IA ,
AND No. 3 KŒNIGSTRASSE, STUTTGART.
Orders executed by private wire in New York, Bos
ton and Baltimore.
Drafts issued on all principal points in the United
States and Europe.
G eo.
B. H ill 6c C o .,
Buy and sell all classes of Western Pennsylvania
Securities. Correspondence solicited.
—
^
—
galtimcrre gatxkcm
J. W. Middendorf , W. B. Oliver , C. A. A lberti
Members Baltimore Stock Exchange.
M iddendorf, Oliver 6c C o .
.
BANKERS AND BROKERS,
S. W . Corner G erm an 6c South Sts.,
P. O. Box 397.
BALTIMORE, Md.
Special attention given to the negotiation of For
eign Bills of Exchange, Collateral Loans and Com
mercial Paper.
INDICATORS AND TELEPHONE IN OFFICE.
Robert Garrett 6c Sons,
BANKERS,
N o.
7 SOUTH
STREET,
B A L T IM O R E ,
TRANSACT A GENERAL DOMESTIC AND
FOREIGN BANKING BUSINESS.
5 2 W E Y B O S S E- T S T R E E T ,
P R O V ID E N C E , R . I.
Dealers in Commercial Paper,'Government and
other first-class Bonds and Securities and Foreign
Exchange.
Private Telegraph Wire to New York and Boston,
Parker 6c Stackpole,
D E V O N S H IR E
_________
C.
E.
BO STO N .
B A L T IM O R E .
INVESTMENT and SOUTHERN SECURITIES a
specialty.
Correspondence solicited and information fu i.
nisbed.
N. Y. Correspondents—McKim Brothers & Co.
^oxxtixmx gatxkcvs.
T hos. P. M iller 6c C o .,
BANKERS,
Special attention paid to collections, with rompt
remittances at current rates of exchange on ~!ay o f
payment. Buy and sell State of Alabama and City
of Mobile Bonds.
Correspondents.—Bank of the State of New York,
New York; Louisiana National Bank, New Orléans ;
Bank of Liverpool, Limited, Liverpool.
E. B. B urruss , Pres’t.
A. K. W a l k e r , Cashier
First N ational Bank,
W IL M IN G T O N , N. C.
R A N K E R S ,
N o. 60
BANKERS AND BROKERS,
M O B IL E , A L A B A M A .
BANKERS AND BROKERS
B R A D O F F IC E , M O N T R E A L .
- ¡3 GEORGE HAGUE, General Manager.
J. H. PLUMMER, Assistant General Manager.
BANKERS:
LONDON. ENG.—The Clydesdale Bank (Limited.)
NEW YORK—The Bank of New York, N.B.A.
STR EET,
Perkins, Dupee 6c C o ., W ilso n , Colston 6c C o .,
L o n d o n Office, N o. 9 R lr c h in Lan e.
Merchants
T H IR D
BROKERS,
BANKERS,
N o.
SO U T H
P H IL A D E L P H IA .
P I T T S B U R G , P A .,
MEMBERS OF THE NEW YORK AND
BOSTON STOCK EXCHANGES.
Œatxaxlmix gm xkirs.
134
Brewster, Cobb
A . M. TOWNSEND, Agent, 4 7 W iilia m St.
BREM EN, GERM ANY.
BANKERS AND STOCK BROKERS,
N o.
,
Prompt attention given to Collection o f Commer
cial Bills and Canadian Funds on all points in Canada ;
American and Sterling Exchange, and Stocks, Bonds,
etc., bought and sold.
„
„ .
Correspondents—Bank of New York, New York;
and Alliance Bank. London.
H o n g K o n g & Shanghai
BANKERS,
R obert m . Ja n n e y
Imperial Bank o f Canada. J os. M . Shoemaker 6c C o .
D e Tw entsche
B A N K IN G
fV o L . X X X V 1 1 ,
STREET,
________
Jackson 6c C o .,
M ID D L E T O W N , CONN.,
Buy and sell Government, State, Municipal and
Railroad Bonds and Stocks. Investments for Sav
ings Banks a specialty. Correspondence solicited.
gjemxsx$lxmxxia ga i xk zxs
A . P. Turner 6c C o .,
B A N K E R S AND B R O K E R S ,
No. 207 WALNUT PLACE,
P H IL A D E L P H IA .
Collections made on all parts of the United States
M erch an ts’
n a t io n a l
b a n k
,
! R IC H M O N D , V IR G IN IA .
Collections made on all Southern points on best
terms; prompt returns.
JOHN P. BRANCH, President.
John F. Glenn , Cash. Fred . r . Scott, Vice-Pres’t
THOM AS BR AN CH
&
€ 0 .,
BANKERS AND COMMISSION MERCHANTS,
R IC H M O N D , V IR G IN IA .
Virginia Bonds funded under the Funding Act
passed by the last Legislature, for ii per cent commis
sion. New North Carolina 6 per cent -bonds, secured,
by lien on the State’s stock in the North Carolina
Railroad, for sale._________ _____________________ _
W m . C. Courtney . Pres. Ernest H. P rin g le , Cash
BANK
©F
CH ARLESTON,
Na tio na l Ba n k in g A ssociation
CHARLESTON,
s. c .
Special A ttention given to Collections
THE CHRONICLE.
S eptem ber 22, 1888. j
jim it te r u
THE CITY
g a n z e m
BANK
OF
S v x x st
HOUSTON,
C A P IT A L , $ 5 0 0 ,0 0 0 ,
Houston,
Cnromiexxial
< Ê 0 n tp x r * iie s .
U nited States T rust C o.
, OF NEW YORK,
N o. 4 9 W A L L S T R E E T ,
Texas.
A llen
We give special attention to collections on aH CAPITAL AND SURPLUS, $5,000,000
accessible points.
D i r e c t o r s .— Benjamin A . Botts, Pres’t: F . A.Rice,
This company is a legal depository for moneys paid
C. C. Baldwin, W. B. Botts, Rob’t Brewster, S, K.
Into court, and is authorized to act as guardian or
Mclihenny, B. F . Weems.
B. F. WEEMS. Cashier. BENJ. A. BOTTS,Pres’t receiver of estates.
INTEREST ALLOWED ON DEPOSITS,
which may be made at any time, and withdrawn after
five days’ notice, and will be entitled to interest for
W & ts U x u
g a tx & e u s.
the whole time they may remain with the company.
Executors,- administrators, or trustees of estates,
and females unaccustomed to the transaction of busi
ness, as well as religious and benevolent institutions,
will find this company a convenient depository for
money.
JOHN A. STEWART, President.
Grand R a p id s , Mich ., Feb. 24,1883.
WILLIAM H. MACY, Vice-President.
The First National Bank, of Grand Rapids, located
at Grand Rapids, in the State of Michigan, is closing
TRUSTERS
up its affairs, its corporate existence, having expired
on February 24, 1883. All note holders and other Dan. H. Arnold, James Low,
John II.Rhoades
creditors ot said association are therefore hereby Thomas Siocomh, W. W. Phelps, J. B. Williams,
notified to present the notes and other claims against Charles E. B ill,. D. Willis James, Anson P. Stokes,
the association for payment.
WUson G. Hunt, JohnJ.Astor,
Chas. H. Russell,
Wm H. Maey,
John A. Stewart. Robt. B. Minturn
HARVEY J. HOLLISTER, Cashier.
John J. Cisco,
S.M.Buckingham Geo. H. Warren,
Clinton Gilbert, H. E. Lawrence, George Bliss,
Daniel D. Lord, Isaac N. Phelps. John C. Brown,
George T. Adee, Erastus Corning, William Libbey.
Samuel Sloan,
JS.'B. Chittenden,
OF GRAND RAPIDS, M IC £.
CLARK. Second Vice-President.
HENRY L. THORNELL, Secretary.
C apital L im it, - - - - $ 1 ,5 0 0 ,0 0 0
LOUIS G. HAMPTON. Assistant.-Secretary
T h e First N ational Bank.
T h e O ld National Bank
C apital P a id in ,
- -
- - •
4 0 0 ,0 0 0
T h e Brooklyn Trust C o .
Referring to the foregoing the officers and directors
Of the OLD NATIONAL BANK OF GRAND
Cor. o f Montague & Clinton sts. Brooklyn, N. Y.
RAPIDS, beg leave to announce that on Monday,
February 26 inst., they will continue the business of
This Company is authorized by special charter to
banking in all its branches, at the same place of busi
act as receiver, trustee, guardian, executor or ad
ness, as successor o f the First National Bank o f ministrator.
Grand Rapids.
It can act as agent In the sale or management o
As substantially the same management will conImie in the new organization, -with equal capita real estate, collect interest or dividends, receivj
(which will be speedily doubled) it is hoped the registry and transfer hooks, or make purchase and
ssle
ofGovemment and other securities.
generous confidence and patronage so long bestowed
Religious and charitable institutions, and persons
upon its predecessor, will be continued to the present
unaccustomed to the transaction of business, will
Institution,
find |this Company a safe and convenient depository
S. L. W ITLE Y, Psesident.
for money.
EDMUND W. CORLIES, Vice-Preset.
H. J. HOL1ISTER, Cashier.
T.
TRUSTEES:.
i 0l^n
Rolfe,
Chas. R. Marvin, Henry K.Sheldon
*1- Knowlton, Josiah O. Low, John T. Martin,
H -E- Bierceppnt, Alex. McCue,
Edm’d W, Corlies
Alex. M. White, A. A. Low,
Fred. Cromwell,
Henry Sanger,
Mich’l Chauneey, C. D. Wood.
INVESTMENT BANKERS
i WM. H. MALE, Secretary.
JAS. R. Curran -. Assistant Secretary.
HIGH-CLASS FALL AND
76 DEARBORN STREET,
C H IC A G O , I L L .
M etropolitan Trust G o .,
P n i V T D S 8tate> County, City, Town, School,
H V / l l XJvJy and Car Trust Bought and Sold.
The funding o f entire issues receives special atten
tion. Write us if you wish to buy or sell.
Mills Building, 35 Wall St., New York.
P A I D IIP C A P IT A L , $ 1 ,0 0 0 ,0 0 0 .
T H £
Texas Land & M ortgage
COMPANY LIMITED,
°
(O F LONDON, E N G L A N D ),.
Transact a general Financial and Agency Business in
the State o f Texas and Europe.
New York Correspondents:
C. E. WELLESLEY.
B la k e Bhos. & Co.,
General Manager,
Wall Street.
Da l l a s , T e x a s .
M ontana N ation al Bank,
HELENA, M .
T.
UNITED STATES DEPOSITORY.
Capital,
$250,000
•C. A . Broadw ater , Pres’t. A. G. Cl a r k e ,V.-Pres’t.
E, Sh a r p e , Cashier. •
T hos . m . Thornton .
W m . W. T hornton , Cash
W . F. THORN TO N &
SON,
(Established 1859,)
b a n k e r s
a n d
b r o k e r s
.
: SHELBYVILLE, ILLINOIS.
mad<?.!n Shelby and adjoining Counties
Proceeds remitted, on Dry o f Piivment
REFERENCES-National Bank o f ™ Ä r c e ,N e w
w .q
V’o 0DbLank, Cincinnati. Third
sh Ij0Ui8- Traders’ Bank, Chicago.
Indiana Banking Company, Indianapolis.
ESTABLISHED 1871.
K*• F .
K E L E H E R
&
CO.
805 OLIVE STREET, ST. LOUIS,
D ealers In W e ste rn Securities,
a
Bonds o f Missouri Kansas and Illinois a
Specialty. Good Investment Securities, paying from
4%to 10 per cent, for sale.
XIom
References in New York, by permission hiapIt
D odge & Co., 51 Wall St.; H a le /& F™te, ¿ w S fs t .
References in St. Louis, Banks generally.
S T O C K S and
BONDS
A t A u ctio n .
The Undersigned hold REGULAR AUCTION
SALES of all classes of
S T O C K S ANI> B O N D S
ON
WEDNESDAYS AND SATURDAYS.
A D R IA N H . M U L L E R &
¿O N ,
No. 7 PINE STREET, NEW YORK.
Designated as a legal Depository by order o f Su
preme Court.. Receive deposits of money on interest,
act as fiscal or transfer agent, or trustee for corpora
tions and accept and execute any legal trusts from
persons or corporations on as favorable terms as
other similar companies.
THOMAS HILLHOUSE, Presided.
E E LEIUC I). TAPPEN. Vice-President
____
WALTER J. BRITTIN, Secretary.
IPuanxiaX (Compatîtes.
Honesty Guaranteed
F I D E L I T Y & C A S U A L T Y CO.
OF NEW YORK.
Officials o f Banks, Railroads and Transportation
Companies, Managers. Secretaries and Clerks of
Public Companies, Institutions and Commercial
firms, can obtain suretyship from this Company at
moderate charges.
* 3
The bonds o f this Company are accepted by the
oourts o f the State of New York.
y
e
A C C ID E N T IN SU R AN C E.
W IN TER
U N D E R W E A R
A lfD
H A L F -H O S E .
S A M U E L
BUDD,
Broadway and Twenty-Fourth St.
SAM UEL
BUDD.
Kine Custom Shirts our Specialty.
Over Twenty Y ears’ experience war
rants the assertion that our Dress
Shirts are unequaled for style, appear
ance and workmanship. -W e guar
antee in all cases a perfect fit.
SAM UEL,
BUDD,
Broadway & 24th Street, New York.
Brinckerhoff, T urner
& C o .,
N . W . Harris & C o .,
No.
Solly
& C o .’s
*
Manufacturers and Dealers In
C O T T O N SA I L D U C K
And all kinds of
COTTON CANVAS, FELTING DUCK, CAR
Q OiVERING, BAGGING, RAVENS DUCK, HAIT,'
TWINES, &C., ’‘ONTARIO” SEAMLESS
BAGS, “ AWNING STRIPES.
Also, Agents
U N IT E D ST A T E S B U N T IN G CO,
A fu|l supply, all Widths and Colors, always in stock
N o. 1 0 9 D u an e Street.
Joy, Lincoln & M o tle y ,
SUCCESSORS TO
E . R . M U D G E , S A W Y E R & CO.,V
43 & '45 W hite Street ,
15 Ch auncey Street ,,
NEW YORK.
BOSTON.
AGENTS TOR
Ocean M ills C o., A tla n tic Cotton M ill* .
P eabody M ills, Chicopee A lt's. C o..
U erton N ew M IHs,
W h ite Mfgr. C o ,.
Saratoga V ictory M lg . C o .,
’
H osiery an d Y a rn M ills ,
j
THE
Asjhepoo Phosphate C o .y
Policies issued against accidents causing death or
totally disabling injuries.
Full information as to details, rates, &c„ can he
obtained on application to head office, 179 Broad
way, N. Y.
W m . m . R ich ards , Prest. J ohn m . Cr a n e . Sec’v
Directors —George T. Hope.G. G. WilliamsrGeo.'
S ;C °e , Charles Dennis, J, 8. T. Stranahan, A . B.
Hull, A, S. Barnes, S. B. Chittenden, H. A . Hurlbut
W. G. Low, David Dows. J. D. Vermilve Alex
Mitchell, Wm, M. Richards.
uye, A lez’
Manufacturers of High-Grade AcidJ Phosphates,
Dissolved Bones, Bone Ash and Ammoniated Fertile
zers. Large Importers from the Mines in Germany
of LeppoIdschaJl Kainit.
r-
Bonds of Suretyship.
Bullard & W h eeler,
NO OTHER BUSINESS.
1 1 9 M A ID E N L A N E ,
NEW YORK. ,
The
G u a ra n te e
Co.
CHARLESTON, S. C.
ROBERTSON, T A Y L O R *
GENERAL AGENTS. :
B A G G IN G
AND
CO .,
IR O N T IE S ,
(FOR BALING COTTON.)
Agents for the following brands of Jute Bagging ►
Eagle
Mms,”
“BrooklynCTty.’’ “Georgia,” “ Caroling»
9apli al*...... ......................
$300.000
Cash A ssets.........................................
400,000
“Nevlns O,” “ Union Star,” “ Salem,” ‘rHoricon Mills,»
*
Deposit with Insurance Department............. 214,000 “Jersey Mills” and “Dover Mills.”
IMPORTERS OF IRON TIES.
President:
Vice-President:
8m. A le x . t . Galt .
H on . j a s . ferrier .
OF NORTH AMERICA.
Managing Director: Edw ard R awlings .
NEW YORK OFFICE:
N o.
178
B R O A D W A Y .
D. J. TOMPKINS, Secretary.
New Y ork Directors .—Joseph w. Drexel, A. L
Hopkins. H. Victor Newcomb, John Paton, Daniel
Torrance. Edw. F. Winslow, Erastus Wiman.
Bl i ss, F a b y a n & C o . ,
New York, Boston, P hiladelphia,
SELLING AGENTS FOR LEADING BRANDS
B R O W N Sc B L E A C H E D S H IR T IN G S
A N D S H E E T IN G S ,
PRINTS, DENIMS, TICKS, DUCKS, &c.
Towel.' , Q u ilts, W h it e G oods Sc H osiery
Drills, Sheetings, éc., for Export Trade.
B A G G IN G ^ r
W A R R E N , JO N E S & G R A T Z ,
ST. LOUIS, Mo,
Manufacturers’ Agents for the sale of Jute
IMPORTERS OF
IR O N
CO T T O N
T IE S .
O F F I C E
C A R P E T S .
HOUSEKEEPERS AND OCCUPANTS OF OF
FiCES take notice. Before buying your Carpet»
Linoleum Oilcloths, or Mattings, call at BEND ALL’S
Misfit Carpet Store, 114 Fulton St., hist fient floor
Cheapest jfiace in New York.
*
THE CHRONICLE.
VI
y & ft Q z p t t & i î
J>pjex:ial JtiucBtttrctxts.
(^ o m p m x ïs s .
M AKHATTABi
Safe D e p o s its Storage C o
[V ol . tX X Y ll.
NO. 11 W A L L S T ., N E W Y O R K ,
3 4 6 & 348 B r o a d w a y ,
AND
GAS
GAS
T h e N ational Park Bank
S E C U R IT IE S ,
OF NEW YORK,
Bankers’ Safe Deposit C o
UNITED „BANK BUILDING,
W a ll Street an d B r o a d w a y .
S A~F~E S
OF MOST APPROVED CONSTRUCTION FOR
Bankers, Brokers, Merchants. &c.~
THE
State Safe Deposit V au lt,
CITY
Set*
R A ILW A Y
TRUST
VY COMPANY, New Y ork , Sept. 13,1883.
DIVIDEND No. 65.
The Board of Directors have declared a quarterly
dividend of One and Three-fourths per cent upon the
'capital stock of this Company, from the net earnings
•Of the three months ending 30th instant, payable at
•the office o f the Treasurer on and after the 15th day
-of October next, and on removal of legal restraint
^prohibiting such payment, to shareholders o f record
-on the 20th day of September instant
k
The transfer books will be closed in New York and
in London at 3 o’clock on the afternoon o f September
saoth inst., and re-opened on the morning of the 16th
•Of October next.
R. H. ROCHESTER. Treasurer
TR AN SC O N T IN E N T A L
A/COM PAN Y, New York, Sejpt. 17,1883.
A Quarterly ¿iivdend of ONE AND ONE HALF
P e r c e n t (D£ p. c.)on the Capital Stock o f this
•company will be paid on and after October 15, lobo,
--at the office of the Farmers’ Loan & Trust Company.
The transfer books will be closed September 25, and
reopened October 17,1883.
C. A. SPOFFORD,
Assistant Secretary.
jlp xtial %u\vzstm c n is.
DEALERS IN
IN V E S T M E N T S ,
Buy and Sell on Commission, for cash or on mar
gin, all securities dealt in at the New York Stock
Exchange.
Interest allowed on daily balances.
All deposits subject to check at sight.
Particular attention to orders by mail ortelegraph
THE
W ESTERN
F a rm M o r t g a g e C o.
LAW RENCE,
K A N SA S,
Offers to investors the best securities in the market
FIRST MORTGAGE LOANS UPON IMPROVED
FARMS. Interest and prineipal paid on day of ma
turity in New York. Funds promptly placed. Large
experience. No losses. Send for circular, references
and sample forms. W. M. PERKINS. President; J. T.
WARNE, Vice-Prest.; L. 11. PERKINS, Secretary.
CHAS. W. GILLETT, Treas. N. F. HART Auditor
Douglass Green,
16 EXCHANGE PLACE, N EW YO RK
Governments an d foreign Exchange .
Smith,
PO ST,
145
B R O A D W A Y ,
CITY RAILROAD STOCKS & BONDS
BOUGHT AND SOLD. •
See quotations of City Railroads in this paper.
N . T . Beers, J r.,
ffiiwtijcial.
O h io Central R R .
F I R S T A N D IN C O M E
.
Central Trust Com pany
Gas Stocks, A c .,
STR EET,
OF NEW YORK,
15 Nassau St., Cor. o f P in e St.
CAPITAL, $1,000,000 in U. S. Bonds.
NEW YORK.
W i t h $1 ,000 ,00 0» SU R P L U S .
Francis Smith & Co.^
Allows interest on deposits, returnable on demand,
or on specified dates.
Is a legal depository for moneypaid into Court, is
authorized to act as Executor, Administrator, Guardian, or in any other position of trust.
Also as Registrar or Transfer Agent of Stock» and
Bonds, and as Trustee for Railroad Mortgages.
HENRY F. SPAULDING, President.
FREDERICK
P. OLCOTT, ?j Vice-Presidents.
B. B. SHBRMAN,
vice-rTeswenw.
C. H. P. BA BCOCK. Secretary.
GEORGE SHERMAN, Assistant Secretary.
Indianapolis, Ind., & Vicksburg, Miss.
BROKERS
IN
M O R T G A G E
W
r it e
for
EOANS.
C ir c u l a r .
________
F O R S A L E —C ity R a i l r o a d B o n d s .
810,000 Central Crosstowri.
40.000 Central Park North ■&East River.
10.000 Houston West Street & P. F.
7.000 Second Avenue (Consolidated).
1.000 Second Avenue Depot Bonds, due 1889).
5.000 Third Avenue (Registered).
J. P . W IN T R IN G H A M ,
GAS, INSURANCE, BANK STOCKS,&C.
SECT!BITIES BOUGHT AT THE AUCTION SALES.
3 6 PIN E S T R E E T , N. Y .
J. M . Gillespie
INSURANCE
S C R I P , S ec.,
No. 4 HANOVER ST., NEW YORK.
Member of N. Y. P r o d u c e and Maritime Exchanger
E.
S.
B a i l e y ,
<7 P IN E S T R E E T .
dealings in
I N S U R A N C E
S T O C K S
A S P E C IA L T Y
Cash paid at once for the above securities ; or they
Southern Securities a n d D istrict oi
.11 v . r . 1 J ______ O aallowfl nntlATl.
C olu m b ia Securities a Specialty«
1 will be sold on coir reis&iëa»a seller’s option,
BONDS,
Owners of the above securities having united in
sufficient number with the undersigned, applicants
for certificates are notified that the same will he
ready for delivery until Oct. 1st inclusive, at the office
of the Secretary, No. 7 Exchange Court, Room B.
OWENS & MERCER,
EMMET & ISELIN,
F. M. LOCKWOOD & CO.
B r o o k ly n Securities, City R o n d s,
1 NEW
CO.,
Subscription Certificates and Stock.
NEW YORK.
No
&
RIVER DIVISION,
H . L . Grant,
N o.
M A R T IN
No. 34 PINE STREET.
20 BROAD STREET, NEW YORK
Intimate knowledge of all for past fifteen year».
Information cheerfully given. Investors or dealers
wishing to buy or sell are invited to communicate.
All stocks dealt in at New York Stock Exchange car
ried on margins.
________________
STR EET.
Car Trust Bonds.
Railroad Securities a Specialty.
Sons,
19 NASSAU S T ., N E W Y O R K ,
F IR S T -C E A S S
H.
H U R L B U T ,
WE MAKE A SPECIALTY OF THESE V E R y '
SAFE SECURITIES, AND BUY AND SELL SAME
AT MARKET PRICE.
WE OFFER A LIMITED AMOUNT OF DESIR
ABLE CAR TRUST ISSUES, ADDITIONALLY
SECURED BY THE DIRECT OBLIGATION OF
THE R A I L R O A D E Q U IP M E N T C O M P A N Y
STO CK AND BOND B R O K E R ,
TELEGRAPH
G eo. K . Sistare’s
STOCKS
Insurance Stocks.
Fred.
&
52 W I L L I A M
COS.» STOCKS.
Bank Stocks.
n i A N A D I A N P A C IF IC R A I L W A Y
U
C O M P A N Y.
NOTICE.
The fonrth half-yearly payment of interest on the
Five Per Cent First Mortgage Land Grant Bonds of
the Company will be made on presentation of Cou
pons on and after the First day of October next, at
the offices of the Company, Place d’Armes Square,
Montreal, or at the office of Messrs. Morton, Rose &
Co., Agents of the Company, Bartholomew House,
London, England, or at the office of
MESSRS, J. S. KENNEDY & CO.,
Agents, No. 63 William St., New York.
Charles D r in k w at er , Secretary and Treasurer.
R E E D
T e le g r a p h a n d C a b le S tocks.
B U R G 1 A B AND F I R E P R O O F .
YVREGON &
1 3 0 IV 1 3 S .
IN .
GAS STOCKS.
Under the National Bank of the State o f New York
UNION
ABSOLUTE.
I I . P . M O R G A N , G eneral A gen t,
No. 3 Custom House St., P rovidence R. I., Or
J A R V IS , C O N K LIN & CO., B r o k e r s ,
KANSAS CITY, MO.
D E A L E R IN
Cor. W illia m St. & E x ch an ge P lace,
m rE ST E R N
CENT
New York Lackawanna & Western 6s, 1921,
guaranteed by Dela. Lack. & West. ER.
SEE GAS QUOTATIONS IN THIS PAPER.
Ohio & West Virginia 1st 7s, 1910.
Geo. H. P bentiss ,
W. W. W alsh . Northern Pacific Terminal Co. 6s, 1933.
Member N. Y. Stock Exchange.
__________ J,
St. Paul & Northern Pacific 6s, 1923.
NeWjJYork Chicago & St. Louis Equipment 7s.
W M i
O .
N O Y E S ,
FOR SALE BY
No. 21 NASSAU STREET,
D E P O S I T Y O U R S E C U R IT IE S
% nttxcstT
S E C U R IT IE S
DEALT
^ 2 0 ,0 0 0 .
PER
First Mortgages on Improved Property in Kansas
City, and good farms in Kansas and Missouri, worth
from three to five times the amount of the loan. For
particulars and references address,
A N D A L L K IN D S OF
BROOKLYN
•
Semi-Annual Interest Net to Investor.
Street Railroad Stocks and Bonds
214 & 216 B R O A D W A Y .
ENTRANCE THROUGH THE BANK.
T O
SEVEN
S E C U R IT Y
STO CKS
S afe D epo sit V a u l t s
op
^ 2 0 0
<;
2 0 8 M O N TA G U E S T ., B R O O K L Y N .
Sales to rent fro m $ 1 0 to $ 2 0 0 per year.
IN
Investors A tten tion .
G e o ..H . Prentiss & C o .,
. Cor. of Leonard Street.
NEW YORK.
Receives for safe-keeping, UNDER GUARANTEE.
Bonds, Deeds,Wills and other valuable papers: Silver
ware, Jewelry, Paintings, Silk Goods, Old Business
Accounts, &c.
Cor
3 p & c ia l
BOARD OF TRUSTEES.
Class of 1884. ’ Class of 1885 Class of 1886.
S. D. Babcock, David Dows,
A. A. Low,
Fred’k H. Cossitt, I. N. Phelps, George W. Lane,
Jao’bD. Vermilye Jno. Thorne, Benj. B. Sherman.
Wm.AUen Butler Amos R. Eno, J. Pierpont MorgaJ
Percy R. Pyne, Gust’v Schwab Chas. Lanier,.
Wm. H. Appleton J. P. Wallace, George I. Seney.
Edm. W. Corlies, JosiahM.Fiske Chas. G. Landon,
Geo. MacC.Mil ler, H.F.Spaulding Wm. H. Webb,
Cornelius N. Bliss J. S. Kennedy, Fred. P.Olcott.
Spencer Trask.
Geo. F. Peabody.
Spencer Trask & Co.,
Bankers,
70 Broadway, New York City.
T r a n s a c t a G e n e r a l B a n k in g B u s in e s s
B ranch O ffices .
Connected by private wires.
P h il a d e l p h ia , 132 S. Third St., C. F. Fox
A l b a n y , N. Y., 65 State St., W. A. Grave*
P r o v id e n c e , R. I., 13 Westminster St.
S a r a t o g a , N . Y , G rand U ni dh H otel.
H U N T ’S
M ERCH ANTS’
§ R E P R E S E N T IN G
THE
IN D U S T R I A L A N D
VOL. 37.
§ « W
OP
SATURDAY, SEPTEMBER 22, 1883.
THE CHRONICLE.
The Financial Situation........... 305
European Complications........ 310
Railroad Reports and the
Monetary and Commercial
Grand Central Conference .. 307
English News........ ............... 31J.
St. Paul Minneapolis & Mani
Commercial and Miscellaneous
toba Railroad............... ....... . 309
News..... ...........
313
THE BANKE R8’ GAZETTE.
Money Market, Foreign Ex
Quotations of Stocks and Bonds 316
change, U.S. Securities, State
Railroad Earnings and Bank
and Railroad Bonds and
317
Returns . . . ......................... .
Stocks.............. ....................... 314 Investments, and State, City
R tnge in Prices at the N. Y.
and Corporation Finances.. 318
Stock Exchange.................... 315
THE COMMERCIAL TIMES.
Commercial Epitom e............... 322 I Breadstufts.............................. 327
C o t to n ............................ ....... 322 j Dry Goods..... ...........................328
3 p i£
© b r u n ir le .
F in a n c ia l C h r o n ic le is 'published
N e w Y o r k e v e r y S a tu rd a y m o rn in g .
and
in
[Entered at the Post Office, New York, N. Y., as second-class mail matter.]
TERMS OF SUBSCRIPTION-PAYABLE IN ADVANCE*
For One Year (including postage ..................................... $10 20.
For Bix Months
do
....................... .............
6 10.
Annual subscription in London (including postage).......... &2 7s.
Sixmos.
do
do
do
..........
1 8s.
Subscriptions will _be continued until ordered stopped by a written
order, or at the publication office. The Publishers cannot be responsible
for Remittances unless made by Drafts or Post-Office Money Orders.
L iverp oo l Office.
The office of the Ch ronicle in Liverpool is at No. 5 Brown’s Build
ings, where subscriptions and advertisements will be taken at the
regular rates, and single copies of the paper supplied at 1b. each.
A neat file cover is furnished at 50 cents: postage on the same is 18
cents. Volumes bound for subscribers at $1 00.
W ILLIAM B. DANA St CO.. Publishers,
W IL L IA M B . D A N A .
JO H N O . F L O Y D .
THE
$ p 8 ]i£ * ,
C O M M E R C IA L IN T E R E S T S
C O N T E N T S .
T he C o m m erc ial
M AGAZINE»
79 & 81 William Street, NEW YORK.
P ost Off ic e B o x 958.
F IN A N C IA L
S IT U A T IO N
l a the absence of any important ch ange this week in
the general situation, the failure o f the Exchange Bank of
Montreal has been lifted into some sort o f prominence. It
was claimed at one time, that it might lead to other bank
failures there and to the failure also, o f prominent Mon
treal stock speculators. Though all this might happen with
out disturbing our financial machinery materially, money
being so very easy here, yet we are in so many ways con
nected with Canadian financial interests, that we could not
escape being harmed by any serious trouble there.
Still, from the best information we can gather, it
does
not seem that there
has
been the
least
need for
present anxiety.
The
failure o f the
E xcharge Bank is said to have been brought about
b y the Shaw suspension in Boston, the Bank having
made advances on tannery property. The institution has
long been known to be extended, and thus in a condition
to be hurt by slight adversities. W e do not notice any
thing in. the first o f A ugust Canadian Bank returns which
shows special weakness. A s compared with a year ago,
while the loans to corporations have increased 2 millions,
those made on stocks and bonds seem to have decreased
over
millions, the “ current discounts” being in both
years about 141^ millions. It appears that the bank note
THE
U N IT E D
S T A T IC
NO. 952.
circulation has now reached over 32 millions, an increase
o f $660,000 since last August, and that all the specie
held at home against these notes and against nearly 10O’
millions o f deposits, is $6,470,598, against $7,621,368 the
same month o f 1882, It" is to be added, however, that
over 11 millions o f Dom inion notes (Governm ent currency}
were held by the banks at both periods, and that there wasover 16 millions due from banks in Great Britain and
“ other foreign countries” (presumably specie assets), w hile
over half o f the deposits are set down as “ deposits on
notice,” as distinguished from “ demand deposits,” the
demand deposits having decreased 7^- millions during th e
year.' Such a statement, though not a strong one according;
to the standard o f banking our national system imposes,,
shows an increase o f strength rather than the contrary
during the year, and affords no warrant for rumors o f
special weakness which have been m ore or less current
during the week.
W ith the exception of this unimportant incident there
has been no fact or event which has given any encourage
ment to the grumblers during the past week. There can
be no doubt that comm ercially the situation is im proving
daily. A ll crops are now assured except cotton, and even
cotton promises to be abundant. Had we raised 7 m illion
bales as last year, prices would have dragged all through
the season. N ow , although there is no ground- fo r
speculative movements in the staple, the producer closes
the year well, having probably made this crop on less
borrowed capital than any before, and having also secured
a fair supply o f food products. This explains the activity
o f the demand in the goods market from Southern buyersy
while from all over the W est nearly every branch o f trade
is reported to be improving, which in turn is stimulating
business at the chief distributing centres. Merchants and
capitalists are, however, pursuing a very conservative
course, and are likely to do so* at least until they are better
assured that abundant crops have really postponed th e
dangers threatening our currency arrangements through
silver* coinage. I f Congress would only suspend the
manufacture o f these dollars, complete confidence would
at once return, capital become venturesome again, a n d
the experiences o f 1880 be repeated.
A special feature o f the week’s business has been the
call issued by the Treasury Department for 15 millions o f
the 3 per cents. This was however anticipated, as the
figures o f Government surplus we gave the first o f the
month showed that it could not long be deferred. It will
be remembered that on the first o f September the
balance so held was 155^ millions, and that was
after paying and marking off the 11 millions o f bonds
redeemed under the previous call, and in addition to 33
millions to the credit o f disbursing officers’ accounts. A
• 306
THE CHRONICLE.
[V ol.
xxxyir.
year ago at the same date the surplus was 139£ millions,
and disbursing officers’ balances 27 millions, or a differ,
lative bills was somewhat discouraged by the fact that
money was relatively higher in L ondon than here, it is
ence o f 22 millions in favor of this year.
This large surplus has probably led Mr. F olger
to name Decem ber 1 as -the date o f redemption,
thus
giving
less than
the ninety days’
notice
which has heretofore been given in these calls.
It
is also stated on the authority o f Treasury officials
that the present outlook as to the year’s income indicates
that not less than 45 millions more bonds will be called
during the current fiscal year, making a total for the
twelve months of 92 millions. It would hardly be safe at
present to accept this as the limit, although imports and
therefore customs duties are small; but we showed early
in the year that actual appropriations were very largely
reduced, and a late dispatch from W ashington states that
the pension appropriation would not be used up to within
40 millions. I f this latter statement proves correct, the
previous estimate will evidently turn out insufficient, unless
the new Congress makes tax reductions and puts the laws
probable
that
some
were
made in the
belief
that they
could be covered at a profit.
These
bills
are
now
maturing,
and
as the outlook
into operation before the new year begins.
The effect of the announcement of the Governmept’s
bond call was to stimulate the demand for the 4s, 4^s and
■currency 6s, and to reduce the price o f the 3s. The mar
ket is very bare o f the long-date issues, and any urgency
in the inquiry naturally advances the price. Some specu-'
lators, believing that the circumstances seemed to justify
even higher prices fo r the 4s and 4^s . than those
now ruling, are understood to have purchased as
large
amounts
as
they
could
obtain, and
this
gave color to the report that the buying was for L on
don. A mom ent’s reflection, however, will show that
capitalists there are not likely to invest in a bond the price
o f which affords them but a small fraction more of interest
than is yielded by the British Consols. P robably one
inducement for speculation in these bonds, even at current
high prices, is the possible action o f Congress in relieving
bank circulation o f the existing tax. This question will be
one of the most important which, will early press itself
upon the attention o f our legislators at Washington. It is
certain that there is no profit to the banks now in this privi
lege o f issuing notes. B y remitting the tax, the situation
would be relieved to that extent, except o f course so far
as the price o f the bonds should further appreciate under
the additional demand*
The movement o f gold from Europe is making slow
progress, the foreign exchange market continuing dull but
firm. A s we indicated last week, the tendency o f ex
change has been upward, one o f the leading drawers
having in fact advanced the rates, but the movement was
not general. The reasons assigned for the firmer tone
have been the same as heretofore, a dearth of commercial
bills and a little better demand. Our records show that
cotton for so early in the season is m oving freely, the
exports being nearly double what they were at this #time
a, year ago, also that there is a fair amount o f breadstuffs
g o in g forward, although the exports are much lighter
than they should be considering the abundant crops.
Still, comm ercial bills are scarce. Inquiry as to the
character o f the demand reveals the fact that it comes chiefly
from bankers, and it is -suggested that it is mainly for the
purpose o f covering bills drawn sixty or more days ago in
the expectation o f more liberal exports o i breadstuffs and
other staples than we are now having. Early in July
sterling was heavy, chiefly b y reason o f large shipments of
breadstuffs and provisions started by the collapse in the
speculation at Chicago during the latter part of June. The
indications then pointed to an urgency in the European
demand for grain, and ' although the drawing o f specu-
does
not
seem ' to favor
a renewal, they
are
being taken up. A further demand for sterling is for
remittances for securities, mainly called bonds, and then
o f course there is always more or less o f a demand to
settle credits. A ll these requirements com ing together at
a time when the offerings are lighter thau usual at this
season, impart a firm tone to the market. Bankers look
for a decline in rates as soon as there is a more liberal
movement o f cotton, even if there should not be large
exports o f breadstuffs and other fo o d staples. Reports
continue to be made that there are heavy shipments o f
securities to London and Amsterdam, but beyond specu
lative operations between this and the L ondon market, the
adjustment o f which goes over until the fortnightly settle
ment day, there is very little evidence to confirm the
above reports. I f securities are going out in such liberal
amounts, there should be a,,correspondingly large sum o f
sterling upon the market, but no such supply is manifest.
In Stock Exchange circles the event o f the week has
been the attack on the V illard properties, Northern Pacific
preferred and common, and Oregon Trans-Continental.
The attack was well-planned, executed with considerable
dash and vigor, and apparently attended with a fair
measure o f success. It does not appear that any new
facts of an unpleasant nature have been developed with
respect to these companies, but traders seem to regard the
properties as decidedly vulnerable and lose no opportunity
to raid them. A s bearing upon *the actual, condition of
the properties, however, two events o f the week deserve
mention. One is the declaration o f the regular quarterly
dividend o f 1|- per cent on Oregon Trans-Continental, and
the other the publication o f the Northern Pacific’s annual
report for the fiscal year ended June 30. The declaration
o f the Oregon dividend did not exercise any beneficial
effect; and as to the Northern Pacific report, pretty diverse
views prevail. Some regard the exhibit as favorable,
others unfavorable.
"We give copious extracts from it in our investment
column. The gross earnings for the year, it appears, •
reached $7,855,459, o f which $1,523,112 was derived
from construction material carried at about actual cost,
and the net, above operating expenses and rentals, aggre
gated $2,518,529. Out o f this latter amount interest and
one or two sundry items were paid, leaving a balance p f
net income for the year o f $1,149,583, equivalent to about
2 f per cent on the $41,749,464' preferred stock outstand
ing.* O f course, the Northern ^Pacific being a new line,
only just opened its entire length, the figures fo r the past
year on the incomplete portion o f it offer but little
guide to the business o f future years. Officials o f the
company, however, take a very hopeful view o f the out
look, and estimate that the gross earnings for the current
year will reach about $15,000,000, and this it is expected
will yield about $ 6, 000,000 net. The proportion here
assumed for operating expenses— 60 per cent— does not
appear too low, considering that so large an amount o f
gross earnings in the past year represents construction
material carried at bare cost. More objection will p ro
bably be made to the estimate o f gross business—--calling,
if we allow for construction material, fo r over 100
per cent gain in receipts— but as to this, there
can be nothing but conjecture. This is a country
of
marvelous
growth,
and
if
our
industries
should suffer no serious relapse, the com pany’s receipts
Se pt e m b e r
THE CHRONICLE.
¿2, !8€3.j
must increase. Thus far in the current year—-namely
from July 1 to September 14-— earnings are $526,317,
or about 30 per cent, in excess o f the same period o f last
year, which offers much encouragement fo r the future,
now that there is a through- line from end to end.
<■ But it must be recognized that in addition to this un
certainty as to just what the company will earn, there is
also some uncertainty as to the extent o f the annual
charges. The com pany’s own funded debt amounts to
$45,891,200, besides which it has $4,640,821 dividend
scrip out, together $50,532,021, calling at 6 per cent for
an annual payment o f $3,031,921. B.ut the road is still in
need o f money. Pretty nearly eight millions remain to be
provided to cover the cost o f present construction. Then
- it is not easy to tell just what yearly draft, if anything,
such companies as the St. Paul & Northern Pacific and
the Northern Pacific Terminal may make upon the road’s
307
Sept. 17.
U.S.4s,c.
Ü.S.4M3.
Erie......
2d eon.
111. Cent'.
sr. y . c ..
Beading
Ont.W’n
St. Paul.
Bxch’ge,
cables.
Sept. 18.
Sept. 19.
Lond’n N.Y. Lond’n N.Y. Lond’n N.Y.
prices.* prices. prices.* pricer. prices.* prices.
118-45$ 11956 118-58$ 11936 118-94$ U9J6
112-50 11256 112-02 11236 112-9S 11236
31-95 -SIM 32 07 32M 82-10 32%
95-25 34M 95-25 95
95-35’ 94M
13000 12956 130-00 129>6 130-02: 129M
110-15 11536 110-88 116M 117-97 11736
25'87+ 51M 20-11+ 52
20 02+ 52>6
23-20 23
22-96 2296 23-22 23
106-19 106
106-19 106M 106-42 10636
4-86
4-80
Sept. 20.
Sept. 21.
Lond’n N.Y. Lond’n N.Y.
prices.* prices. prices.* prices•
119-00$ 120 118-05$ 120 r
112-98 113
112-93 113
31-74 3196 31-62
313£
S5"35 94M 9535
95
129-89 m a 13013 1293Î
110-51 11536 116-76 116M
25-90 + 5136 25-78+ 5156
22-74 2236 22-74
2256
106"05 10536 106-17 10636
4-86J6
4-86>6
4-8636
* Expressed in their New York equivalent. t Reading on basis of $50, par value.
|Ex-interest.
The Bank o f England reports a gain o f £96,000 bullion
for the week, but as £149,000 came in from abroad,
£53,000 must have gone to the interior.
F or the
purpose o f reference we present the follow ing table,
showing this movement ih and out o f the Bank o f
net earnings. So out. o f these uncertainties the S tock E x England fo r a series o f weeks.
change public find their opportunity.
Besides the attack on the V illard stocks, which on
^Thursday seemed to have strong support, other properties
were attacked on that day, until in the afternoon there
was a general demoralization, the market breaking
severely, but mainly in the Pacific stocks and in the Gould
specialties. This was follow ed by as rapid a recovery,
and in the final hour o f business the market was strong.
Yesterday, however, there was further weakness in the
V illard stocks, in which U nion Pacific, Louisville & Nash
ville and Lake Shore shared, and the tone was irregular
and unsettled all day, with the close at the lowest figures.
There is no change in the m oney market. The supply
on call continues abundant at from 2 to 2£ per cent, and
there is very little inquiry for time loans. The domestic
-exchanges at interior points indicate that there is a g o o d
supply at many o f the W estern centres and no urgency in
the demand upon N ew Y ork , although there seems to be
a heavy movement o f funds to Philadelphia and other near
b y points. Reports from W ashington on Thursday were that
the redemption o f bonds o f the 121st call for the week
amounted to $3,500,000. The follow ing statement, made
up from returns collected by us, exhibits the w eek’s re
ceipts and shipments from and to the interior o f gold and
currency by the N ew Y o r k banks.
Week Ending Sept.SI, 1883.
Received by Shipped by
N.Y. Banks. N.Y. Banks.
Net Interior'
Movement.
Currency............................................
Gold.............................................
$664,000
27,000
*$1,558,000
939,000
Loss. $894,000
I.OSS. 912,000
Total gold and legal tenders......
$691,000
$2,497,000
Loss.$l,808,000
Domestic Sources.
Week ended—
£
2 .......
0.
r
1 6 ..... ’¿ m o o
23.. •.. 162.000
“
3 0 .....
52,000
September 6 .......
1
1 3 .....
“
20.......
August
Foreign Sources.
SKipm’ts Receipts
to.
from.
£
£
136,000 4S9,000
296,000 215,000
..
327,000
81,000
343.000
166,000 273.000
106,000 246.000
53,000 149.000
Shipm’ts
to.
&
........
..........
Total.
£
+353,000
—81,000
+396,000
+243,000
+395,000
+ 107,000
+ 140,000
+96,000
The Bank o f France reports a loss o f 2,425,000 franca
gold and a gain o f 925,000 francs silver for the week, and
the Bank o f Germany since the last return shows a decrease
o f 6,181,000 marks. - The follow ing indicates the amount
o f bullion in the principal European banks this week and
at the corresponding date last year.
S<pt. 20, 1883.,
Gold.
Silver.
Sept. 21, 1882.
Gold.
Silver.
£
£
£
£
Bank of England............ 24,218,454
21,737,985
Bank of France............... 38,987,924 41,175,592 39,968,679 45,640,645
Bank of Germany.......... 7,333,800 22,001,200 6,725,500 20,176,500
Total this week............. 70,540.178 63,176,792 68,432,164 65,817,145
Total previous week. . . . . 70,618,483 63,371,694 68,267,440 65,488,276
The Assay Office paid out through the Sub-Treasury
$137,077 for domestic and $213,000 for foreign bullion,
during the week, and the Assistant Treasurer received
the follow ing from the Custom House.
Consisting of-—
Date.
Sept.14...
“ 1 5 ...
“ 17...
The above shows the actual changes in the bank h old
“ 18...
“ 19...
ings of gold and currency caused by this movement to and
“ 20 ...
* 500,000 of this was transferred in the shape of silver certificates hy
a deposit of gold iD the Sub-Treasury.
from the interior.
Receipts
from .
In addition to that movement the banks
Total.
Duties.
$626,095
314,077
561,077
846,776
674,345
407,625
TJ. S.
Notes.
39
26
88
31
88
60
G old "
Gertif.
Silver Certificates. t?
$25,000 $30,000 $500,000
15,000
23,000 223,000
18,000
23,000 456,000
29,000
61,000 637,000
22,000
35,000 556,000
18,000
17,000 309,000
$70,000
79,000
63,000
120,000
61,000
64,000
$127,000 $139,000 2,686,000
$3,459,998 32
,$457,000'
have gained $1,045,000 through the operations o f the S u bTreasury, a d d in g that item, tnerefore, to the above, we
have th,e following, which should indicate the total loss to R A I L R O A D R E P O R T S A N D T H E G R A N D C E N
TRAL CONFERENCE.
the N. Y . Clearing House banks o f gold and currency for
A s expected, th e action o f the Railroad Commissioners
the week covered b y the bank statement to be issued to-day.
in requiring regular reports from the railroads, so desir
Week Ending Sept. 21, 1883.
Into Banks. Out of Barilcs Net Change in
able on their own account and so necessary in the interest
Bank Holdings.
Banks’ Interior Movement, as above
$691,000
$2,497,000
Loss.$l ,800,000 of good morals, does not entirely please our railroadSub-Treasury operations, n e t ........
1,045,000
Gaia. 1,045,000 managers.
They have so long follow ed a different line of.
■ Total gold and legal tenders...... $1,730,000
Loss. $761,000 action that naturally now, when an attempt is made to
$2,497,000
The follow ing table, exhibiting relative prices in London enforce publicity, they feel uneasy, /\Ve do not mean by
and New Y o rk o f leading securities, shows that with the this remark to impugn the motives o f every railroad
exception of the first-class investment properties, which directory that has pursued the policy o f keeping official
are almost always in demand abroad, there lias this week action and corporate earnings secret, or even to assert that
been a very small margin o f profit in cable transactions, Such a course has never proved an advantage to the stock-:
as the L ondon market follow s ours very closely on the holder; but we simply claim, what is now most obvious to
speculative stocks.
all except railroad officials, that this policy is open to very
308
THE CHRONICLE.
[V ol. XXXVII.
.grave abuses, and, in the light o f the history o f recent in its annual reports, but in 1879 and 1880, when Mr.
Vanderbilt had disposed o f a large block o f N ew
years, is wholly indefensible.
Attention has. been again called to the subject b y the Y o rk Central stock, the figures o f gross earnings
hearing had this week before two o f the State Railroad were published each month regularly for quite a while J
Commissioners at the Grand Central Depot. A lthough In the early part of October, 1880, we succeeded in
nothing new was developed at this hearing, the proceed obtaining the statement for the month o f September pre
in g s were interesting as showing an unchanged purpose ceding (covering the last month o f the com pany’s fiscal
on the part o f our railroad officials to disclose as little of year), and taking the earnings therein given, made up the
their doings as possible, and further because on this occa aggregate for the year, and published the same in the
sion the public is made acquainted with what we must C hronicle o f October 10, 1880—?only about two weeks
suppose are the best objections that can be urged agains^ after the close o f the year. N ow , bearing in mind that
the Commissioners’ plan. W e say the best objections, our managers assert that reports issued within six (not
because the gentlemen present to oppose the action of the two) weeks will necessarily be incorrect and misleading,
•Commissioners have no superior as clever and ingenious how far out of the way do our readers suppose this aggre
m en at discovering a reason fo r the faith that is within gate, published fifteen days after the close o f , the year,
tthem, and in this case they fitly represented two o f the was? W e do not doubt that they will be surprised when
largest corporations in the State. Still, the points made we say that it did not differ to the extent o f a single
b y these representatives appear scarcely to touch the real dollar from the total given in the annual report issued
issue. One gentleman wanted the resolution modified by over two months subsequently.
The truth is, a railroad which in tbis age o f quick com
leaving out the oath, another wanted the balance sheet
munication
cannot have its accounts made up in six w eeksf
stricken out, another wanted the limit o f time removed,*
time
gives
evidence
of a lack o f ability somewhere. The
while Mr. Depew was so little solicitous tor the public wel
fare that he thought the Commissioners should entirely Erie people only last week issued their figures for May,
and the claim is that owing to the lease o f the New Y o r k
rescind their action.
Now we do not consider it of any consequence whether the Pennsylvania & Ohio, and a complete change introduced
Commissioners’ form is the best that could be devised. I f in the latter’s system of accounts, an earlier report was
it is not what it should be, it will be very easy to m odify impossible. W e do not doubt that the reasons given for
it and correct any defects experience shall disclose. V e ry the delay are real, but we cannot believe that this delay is
lik ely changes will suggest themselves from time to time. more than a temporary matter. Soon the new system o f
T he main point to be borne in mind is that reports of accounts on the leased road should be in smooth w orking
.some kind have becom e an absolute necessity, that our order, and then there ought to be no difficulty in securing
R ailroad Board is earnestly trying to supply this need, and prompt returns. If, as Mr. Blanchard states, reports from
4hat the Commissioners have been not at all hasty, ill- some o f the con nectin g roads are three months in com ing
-considerate or reckless in their endeavors, but wise, to hand, means should be taken to impress the officials o f
these connecting roads that in making up railroad returns
jorudent and deliberate.
It was said b y these representatives o f the railroads
that the Commissioners’ resolution calls for reports within
:fiix weeks after the close o f the period to which they
relate, and that this limit o f time is not sufficiently
lo n g . W e can conceive that in particular instances, now
and then, unavoidable delay might occur, and that a longer
period o f time would then be desirable; but speaking from a
•considerable experience, we cannot understand why six
weeks is not ample in almost every case for the pur
a little railroad speed would not be misplaced.
W e cannot, therefore, recognize the validity of the o b
jections raised against making returns promptly. B ut
admitting, fo r the sake o f argument, that full reports can
not always be made within the time required, what is to
prevent a company from giving the figures as far as ascer
tained and then approximating the remainder, plainly
stating, o f course, the latter fact ? Take even the Erie.
W h y could not this company, if its N ew Y o r k Pennsyl
vania
& Ohio report were missing, give the earnings and
pose.
expenses
on its own lines, and accompany the same by a
A s an illustration, take our table o f net earnings, pubstatement
calling attention to the fact that the return o f
lished on or about the 10th of each month. In that we
the
leased
line when received ¿would m odify the result, and
regularly give reports o f earnings and expenses for the
giving
also
some idea as to what this leased line return
second month immediately preceding— that is, if pub- (
might
be
expected
to show ? F or instance, the statement
lished in September, the figures cover the month of J u ly; 1
might
read
:
F
rom
the best information obtainable at the
allowing the companies about five weeks in which to pre
pare their figures. That table contains returns from both present moment the N ew Y o r k Pennsylvania & Ohio wil^
’the Chicago Burlington & Quincy and the U nion Pacific, show a gain o f so much, or a loss of so much, to the lessee.
.either o f which operates at least three times as much Then, as soon as the actual figures arrived, they should be
mileage as any o f the N ew Y o r k roads, and covers an made public at once. In some such manner as this,, we do
area o f territory vastly greater, besides being subject to not doubt, any real difficulty in the way o f early returns
fu lly the same inconveniences as the New Y o r k lines in could be readily overcome.
The point made b y Mr. Depew is perhaps deserving o f
th e matter o f the adjustment o f accounts with connecting
a
.moment’s consideration.
H e says that since the
Toads. I f a road like the Burlington & Quincy, running
showing
for
some
quarters
m
ight
be bad, the result as
a ll the way from Chicago to Denver, can prepare its
affecting
speculation
would
be
to
cause
panics unneces
return inside o f five weeks, w hy cannot the Central and
sarily.
That
view
o
f
the
case
certainly
seems almost
R rie, covering a much smaller area, prepare theirs in at
amusing.
Mr.
Depew
should
know
that
nothing
has such
least the same time ?
a
demoralizing,
depressing
influence
upon
any
market
as
" T o be candid, we think that less time would
fear
anxiety,
uncertainty.
If.
the
business
of
the
N
ew
¡suffice, if railroad managers felt disposed to accede
to the request made ; and as a basis for our belief, Y o r k Central should be falling off in a marked degree, it
we offer the case o f the New Y o r k Central itself. That might be possible for the managers to keep the precise
-company does not now, and has not for nearly three extent of that falling off to themselves, but the fact would
years, supplied any inform ation except that contained be sure to leak out somehow, and this would certainly be
S eptem ber
22, 1883.]
THE CHRONICLE.
magnified, as everything is magnified on W a ll Street, until
it did twice the harm the actual figures would.
Besides, it is not true that an unfavorable showing pro
duces a panic or even a panicky feeling. In illustration, we
may refer to some o f the figures o f the Chicago Burlington
& Quincy. Early in A ugust last year we published that
road’s statement o f earnings and expenses fo r the month
of, June, according to which the net earnings fo r that
period had declined from $1,121,014 in 1881 to $516,123
in 1882, a diminution o f over one half ! Could there possibly be a more startling disclosure than this? Y e t the price
o f the stock advanced during August. On the first it stood
at 1 3 3 f; on the 9 th it had risen to 141, and it closed on
the 31st at 136£, nearly three points higher than at the
opening of the month.
Then, too, it should be remembered that where
frequent reports are required, unfavorable results, if any,
develop slowly and steadily, and thus tend to avoid rather
than to excite panics.
F or instance, four quarterly
reports for the Central during the fiscal year 1881-2,
showing at regular intervals the decline in business which
the road was sustaining, could, hardly together have
produced as much o f a shock as the publication o f the
entire loss for the year at once, as was done in the latter
part o f December, with the disclosure that the road had
fallen 1£ millions short o f earning its 8 per cent d ivi
dend.
Y e t even this latter fact did not cause a
panic.
But it is folly to pursue this subject further. L et rail
road officials get to w ork and prepare their exhibits
without further ado. The demand for them is too strong
to be resisted, and the heads o f corporations might as
well yield gracefully and in good humor to the inevitable.
ST.
PAUL
M I N N E A P O L I S & M A N IT O B A
R A IL R O A D .
The St. Paul Minneapolis & Manitoba report fo r the
year ended June 30, 1883, issued this week, will command
a good deal o f attention. The career o f this road has
been in many respects a remarkable one. A t first, like so
many enterprises in that section, it did not prosper— that
is, the original line, the St. Paul & Pacific, did not— and
was forced into bankruptcy. W ith its foreclosure in 18Y9
and reorganization under- the present name, a decided
change, for the better took place, and since then it has
enjoyed a period o f prosperity which is as wonderful as
it has been unbroken.
V arious circumstances contributed to this. First was
the revival in business all over the United States, and the
consequent activity and expansion that this produced.
Then the company’s line had been extended to the Cana
dian frontier, and the road’s position for commanding
traffic correspondingly improved. Besides, the territory
through which the line passes developed great fruitfulness,
and on account o f its desirability attracted settlers beyond
that o f any other section o f the country. Finally, there
came the almost unparalleled movement of immigrants to
Manitoba, accompanied by the building o f the Canadian
Pacific through the district, and the great “ boom ” to which
it gave rise in that territory.
U nder all these favoring influences the gross earnings
o f the road have grown from $2,933,108 in 1879-80 to
$9,090,631 in 1882-3, and the net from $1,503,022 to
$4,645,574, enabling the payment o f regular 8 per cent
dividends. Latterly, the com pany’s receipts have shown
a large falling off from the corresponding period o f 1882,
and as mileage, debt and stock have been considerably in
creased within recent years, some doubt has been expressed
as to the continued success o f the enterprise.
W o u ld it
309
be able to maintain its dividends ? Some have gone s o
far as to claim that even fixed charges were not certain o f
being earned. W hatever light the report throws on this,
point will therefore prove interesting.
A n y estimate as to the future must, o f course, be largely
based upon the past.
Taking the figures for the latafiscal year as a guide, what do they show ? Net earnings
we have already stated to have been $4,645,57*4. I t
remains to tell what disposition was made of the same.
Interest on debt, the first charge on net earnings, we find
given for $1,264,279. Then the company paid out besides
$1,724,664 for dividends on stock. A n d these two sums
comprise the total o f the drafts on the year’s net income.
Deducting them, we have a balance from net earnings off
$1,656,631, which constitutes the surplus on the year’s
operations, and shows also the margin o f profit which:
may be wiped out before either interest or dividends w ill
be endangered. It should be said that in this no accou n t
is taken o f the revenue frojn land sales, which goes to the
redemption o f the first m ortgage bonds, and which in
1882 amounted to $813,945. W e thus see that the results
for the year 1882-3 were highly favorable, and o f course
-this offers much hope for the future.
But will not the,charges for interest and dividends b e
much heavier in the present year ? A s to the interest
requirement, they undoubtedly will be. On the first o f
July, 1882, the total funded debt was $18,646,000. F or
the first o f July, 1883, the report before us states the debt'
at $20,791,720. The latter amount, however, is too small
for the present time. It includes only $999,720 on account
of the new consolidated bonds, whereas there are now out*
standing and actually listed on the Exchange $ 10,574,000
of these bonds. Ten millions o f the bonds were issued
to stockholders at 10 per cent o f their face value, so that
the company realized from their sale only a million dol- /
lars. This act has been sharply criticised, but it certainly
partook o f the nature o f a stock distribution, so common
in railroad affairs, and, besides, it is claimed that the com
pany’s past and present earning capacity warranted the
step taken. Still, it is no part of our present purpose toinquire into the legitimacy o f that issue o f bonds. The
fact to be borne in mind is that as the bonds bear 6 p er
cent interest, the yearly fixed charges have been increased
in the amount o f $600,000. Counting in the whole o f the
$10,574,000 bonds out, the aggregate o f the funded debt
is $30,366,000, against $18,616,000 on July 1, 1882. This
debt calls fo r an annual payment of $1,883,120. In the
late fiscal year, the disbursements for interest were
$1,264,279.
The difference— $618,841— marks the in.
creased requirement for this purpose in the present year. ;
A s to the stock, the amount outstanding— 20 millions—
the first o f July, 1883, was 5 millions above the amount
reported twelve months before that date, but as the in-,
crease was made at the beginning o f the late fiscal y e a r
it counted in full in that year. In fact, the amount paid
out for dividends in the ^ear was greater than the sum.
actually
required
on
the basis o f the
8 p er
cent per annum now being distributed.
Eight p er
cent on 20 millions calls fo r $1,600,000, whereas
$1,724,664 is given as having been paid shareholders
in the year.
The explanation is, that owing to a
change from semi-annual to quarterly periods for the
dividends, a temporary increase in payments took place*
Deducting now this decrease o f $124,664 in the dividend
charge from the $618,841 increased interest requirement,,
we get $494,177 as the net amount in which these two item s
will exceed the total o f the past year. A n d against this w o
have a margin on the basis o f the same year’s operations,
o f $1,656,631. The follow ing will show earnings, debt,
THE CHRONICLE
310
stock, mileage, etc., for the four years o f the company’s
-existence,
Tear;
Milage
Gross
end ofyr. Earnings.
Interest,
<ÈC.
Net
Income.
187980...656
$2,933,108
18808 1 ...865 . 3.700,852
1881-82... 1,058
6,629,694
1882-83... 1,350
9,010,631
$1,503,02-2
1,842,41?
3,148,175
4,645,574
Year.
Surplus.
Land Sales.
1879-80...............
1880-81...............
1881-82...............
1882-83..............
$555,795
732,466
985,084
1,656,631
$597,672
223,832
860,677
813,915
$947,227
1,109,951
1,188,091
1,264.279
Stock.
Dividends.
$ -.......975,000
1,724,664
Fund’d Debt.
$lé,324,900
$15,000,000
15.000,
«ICO 18,107,700
15.000.
000 18,646,000
20.000.
000 30,366,000
[V'OL. XXXVII.
has come into the alliance which already included Italy
as well as Germany and A ustria. Later we find Prince
Alexander o f Bulgaria, who a year ago, at the instiga
tion o f his Russian advisers, dismissed his Parliament and
assumed the role o f autocrat, follow ing the example o f his
brother o f Roumania, and com ing under the influence o f
the W estern Powers. Later still, we see the K in g o f
Servia at Vienna, and witnessing the manoeuvres o f the
Austrian army at Bruck, and sharing in the festivities o f
the occasion. Then^ again, importance is attached to the
visit o f the K in g o f Spain to Berlin, and to the visit made
by Mr. Gladstone to Copenhagen.
It is very probable that too much prominence has been
given to each o f these facts and events, and that they
have been made to bear interpretations o f which, properly
understood, they are not susceptible.
The meaning
attached to Mr. Gladstone’s visit to the K in g o f Denmark
we think a little absurd ; but it would be foolish to im agine
that his meeting with the young Czar o f Russia was w ith
out a purpose. Mr. Gladstone was the friend o f Russia
during the late war with Turkey, and was bitterly opposéd
to the Beaconsfield policy. There may have been a mutual
desire on the part o f both to meet each other; and if the
veteran statesman has ends to -serve in the interests o f his
O f course, the fact that the com pany’s earnings are
largely falling off— the decline from the 1st of July to
the end o f the second week of September reaches $472,687
— should notJbe overlooked. This falling off, we are told,
is entirely due to the loss o f the construction traffic o f the
Canadian Pacific, which the latter now carries itself oyer
its Thunder Bay Branch, but which last year was sent over
the Manitoba road via Duluth. It is claimed, however,
that this traffic had to be carried at very low rates ; that
the profit consequently was small, and that therefore the
loss in net is proportionately much less than in gross.
That thi.s is so would appear to be borne out by th8 fact
that the company’s average freight rate in 1882-3 was
only 1-95 cents per ton per mile, against 2-51 per ton per own country, he has also experience and wisdom which
mile in 1881-2, though without doubt the fall is may be o f some advantage to the Czar in his peculiarl y
also to be ascribed to a lower tariff on general freight
difficult circumstances. N or is it possible to mistake the
and merchandise. Moreover, it is stated that the tonnage
meaning o f these new adhesions to the Austro-German
o f construction material played particular prominence
league. It is beyond all question unfavorable to Russiain receipts last year in the months from July to N ovem ber Nothing in these later years has so completely illustrated
inclusive, and that while earnings at present are for this
the purpose, the energy and the perseverance o f Prince
reason recording a large decrease, that will cease as soon Bismarck as the detachment of Servia, Roumania and Bul
as the end o f that period is reached. The general busi
garia from Russian alliance and sympathy. His success in
ness of the road is declared to be satisfactory, and as to j
alienating them from Russia i 3 all the more wonderful
the crops all reports agree in saying that the harvest of when it is remembered that it is to Russia they owe their
■wheat in Minnesota is as good as any on record. Unles3 independence. Again and again has Russia fought and
therefore it should turn out that construction material was bled and spent her millions for them. But for Russia
a heavier item in net earnings than we are led first and last they might still have been groaning under
to suppose, there would appear to be little present likeli the yoke o f Turkish Hospodars, or grasping, grinding,
hood o f the company’s having to reduce or suspend its irresponsible Pashas. This desertion o f Russia looks like
dividends. A n d it should be remembered besides that ingratitude; and it ought to be no cause fo r wonder if
the company is all the time reducing its first, mortgage Russia is angry.
bonds with the proceeds o f land sales, o f which land there
T he truth is, disguise it as they may on the one side and
remain 2,411,659 acres unsold, all applicable to the same on the other, the relations o f Russia with those o f Austria
purpose, in addition to which there is due on land con and Germany are very much strained. W a r is inconvenient
tracts the sum o f $1,158,356.
and for mahy reasons undesirable; and therefore the lan
A n event that may have some bearing upon future guage of the rival diplomatists is as yet the language o f peace.
earnings is the purchase o f the St. Paul & Northern But the purposes o f war are really being accomplished.
Pacific b y the N orthern Pacific, and the proposed exten Russian emissaries incite the Sclavs to revolt against A u s
sion o f that road,-which runs from Brainerd to Sauk trian rule in Croatia; and Bismarck brings into alliance
Rapids, from the latter point to Minneapolis and St. Paul with Austria and Germany all the smaller Sclavic States
— about 90 miles. This would affect earnings by intro which Russia was the means o f creating, and which she
du cin g a new competitor on those 90 miles, and also by hoped one day to be able to absorb. Austria has perma
the loss o f the Northern Pacific traffic which now passes nently annexed to the empire Bosnia and the H erzego
ov er the Manitoba road between those points.
vina; and if there is to be any further occupation o f
Turkish territory for pacific purposes, either to the south
west or to the southeast, it is Prince Bismarck’s determi
nation that that occupation shall be done by Austria.
There is to be no interference with the treaty o f B erlin.
I f it is broken, it is equally part o f Bismarck’s plan that it
shall not be broken in the interests o f Russia. If, sooner
or later, the Mohammedan must leave “Europe, and the
Sultan seek a home in Asia, the opportunity is to be for
be compelled to fight or to retire politically from the Germany not for Russia. Austria will be m oved further
Balkan region. Furtherm ore we see fresh action taken to the E ast; and the German Chancellor w ill complete his
on the part of Austria and Germany to strengthen and great work o f unification b y annexing the German p rov
prolong the alliance. W e seeth e Roumanian Minister, M inces of Austria to the empire. The great Chancellor
Bratiano, so long so notoriously anti-German, first at never, halts in his purpose. Slow ly and silently the onward
V ienna and then at Gastein ; and we find that Roumania m vement is made. I f Russia contents herself to look on
E UR O P E A N O O M P L IO A T IO N S.
W ith in the last few weeks there have been all kinds of
conflicting statements respecting the attitude o f the differ
ent European powers. One day it is rumored that Prince
Bismarck is about to take steps to bring about a general
disarmament. The day follow ing we are assured such is
the strength o f Austro-Germ an coalition that Russia will
S eptem ber 22, 1883.]
THE CHRONICLE.
811
and see the coveted prize hopelessly escaping from her
p tm ie ia r tS l C o m m e r c ia l g t ig U s ft f l e w s
grasp, there will be no war. I f Russia should offer resist
ance to the unmistakable tendency o f events, she will find
RATES OE EXCHANGE AT LONDON AND ON LONDON
herself at war not only with 'Austria, but with Germany;
AT LATEST DATES.
ahd she will no longer be able, as form erly, in consequence
EXOHANGE AT LONDON—Sept. 12
EXCHANGE ON LONDON.
o f these recent alliances, to fight the enemy on friendly
Latest
On—
Time.
Rate.
soil.
Rate.
Date. Time.
It is just here where the real difficulty presents itselfW ill Russia continue to look on and allow the tide to roll
in against all her traditional purposes and expectations?
A n d if she should refuse to look on in inactivity, what
would be the likely result ? I t is fair, we think, to take
it fo r granted that the men who rule Roumania and Servia
and Bulgaria have considered the probabilities. In join,
ing the alliance o f the more W estern Powers they have
made a choice, and they have decided against Russia.
One thing is certain c Germany, Austria and Russia are
armed to the teeth, and Russia and Germany particularly
are confronting each other with enormous armaments
It is only a few days since, by an order o f the German
W a r Office, large reinforcements o f troops were sent to
the Russo-Germ an and Russo-Austrian fron tiers; and
since considerable excitement -was produced in conse
quence. It is not at all necessary to infer that these
movements should lead to war ; but they are sug
g e s tiv e ; and
they show
that during peace
the
War attitude is preserved, and there is a constant readiness
for war.
A London Times correspondent has quite
recently given a full and graphic account o f the attitude
o f the three powers. It is shown that both Germany and
Austria have an immense advantage over Russia in
- their more perfect system o f railroads ; that in this
particular the German arrangements are almost perfect ;
and that the works at Konigsburg, Thorn, Posen, and
other places, are such as to command the constant
attention o f the Russian papers.. The Prussian G overn
ment now, as always, recognizes the force o f the maxim
that the best way to avoid hostilities is' to prepare fo r war.
This is the feature o f the present state o f things. It is
shown also that Russia, ever since the last war with
Turkey, has been massing her forces along the extended
frontier o f about 186 miles. A lo n g this line, looking towards
A ustro-H ungary and Germany there are, it is said, ten
divisions o f cavalry, with sixteen batteries ; and behind this
line there are eight army corps, ready to move at a
m om ent’s notice.
Russia is also building and strengthening her
fortresses.
There is a first line beginning at K ow no
and ending at Kam enelz; and there, is to be a
second line about 200 miles behind the first. Poland
would give Russia an advantage in the event o f any
attempt being made to invade Prussia; and arrangements
have in consequence been made to fortify Warsaw. This
state o f things does not necessarily mean war. On the
contrary, watchfulness and visible strength on both
sides is probably the best guarantee fo r peace. These
enormous armaments show, however, that in these modern
times battles are being fought without m oving troops,
and that many o f the evils o f war exist in times o f peace.
It is safe, we think, to conclude that much as Russia may
dislike the situation and far as we may be from a general
European disarmament, the Austro-Germ an compact is a
peace guarantee.
.
-Attention is called to the list of investment bonds presented
weli-k“ o ^ house of Messrs. Reed & Hurlburt of
CHaoNicLEaad ChlCa£?0’ ia to-day ’s advertising pages of the
9,ct.°ko!:1 on Canadian Pacific land mort
gage bonds will be paid in Montreal. London, or New York—in
the last-named city by Messrs. J. S. Kennedy & Co.
Amsterdam. 3 mos.
Amsterdam. Short.
Hamburg:... 3 mos.
Berlin ........
it
Frankfort...
Vienna........
it
Antwerp. . . .
Petersburg..
Paris______ Cheeks
Paris............ 3 mos.
Genoa..........
*■*:
M adrid......
ii
Lisbon........
Alexandria.. . . . .
New Y ork...
Bombav. . . . 60 d’ys
Calcutta.. .
Hong Kong.. . . . .
Shanghai.... —
12-51« @12-538
12-2% @12-3%
20-66 @20-72
20-66 @20-72
20-66 * @20-72
12-1212@12-15
25"5712@25-621fi
2318323^4
25-3114@25-3614
25-51 i4@25-56i4
25-58%@25 63%
46 '8)4:61s "
5134@517s
Is. 7 »2d.
Is. 7ifid.
Sept. 12 Short.
12-14
Sept. 12 Short.
Sept. 12
it
Sept. 12
it
Sept. 12
it
Sept. 12
if
Sept. 12
Sept. 12 Checks
Sept. 12 3 mos.
Sept. 12
Sept. 12 ' , «4
it
Sept. 12
it
Sept. 9
Sept. 12 Short.
Sept. 12 tel.trsf.
Sept. 12 tel.trsf.
Sept. 12 4 mos.
Sept. 12
20-50
20-50
20-50
12-00
25-35
231318
25-33
25-34
25-25
47-10
531«
95 V
4-81^3
Is. 7V I.
Is. 712(1.
3s. 8381.
5s.ld.
TFrom our own correspondent.!
L ondon, Saturday, Sept. 8 , 1883.
This week’s Bank return shows that an improved demand for
money has, at length, arisen on provincial account, and evi
dently for commercial purposes. Gold to the value of £273,000
had been sent on balance into the Bank of England during
the week from colonial and foreign sources, but the increase in
the supply, according to the weekly statement, is not more than
£106,857. It is clear, therefore, that the provinces have
absorbed about £166,000. There has also been a slight increase
in the note circulation, viz., of £79,215, and the improvement
in the reserve does not exceed £27,642. The total supply o f
bullion now amounts to £23,982,454 against £21,662,665, and
the reserve of notes and coin to £13,943,259, against £11,006,605
last year. The increase in the former is, therefore, £2,319,789,
and in the latter £2,936,654. The proportion of reserve to
liabilities has scarcely varied, it being 47‘70 per cent, against*
47'54 per cent last week ; but at thi3 period in 1S82 it was
only 39-25 per cent. Another feature in the Bank return is that
an improved demand for loans and discounts is indicated. The
total of “ other securities” has been augmented to the extent
of £293,756, but it is still only £21,609,753, against £23,186,555
last year, being a difference of about £1,500,000. The other
alterations in the return are not important, except that the
“ best” or undivided profits exhibit an increase of £368,398,raising it to £3,740,811. This will admit of a half-yearly divi
dend o f 5 per cent, against 5% per cent last year.
It now seems to be probable that, for the current year at least
the present will be the most satisfactory Bank return which
will be published. The position is a good one, but it is, never
theless, by no means too strong. {■Some increasing, and probably
heavy, demands will be made upon us, and most persons are
-prepared for a recovery in the open market rates of discount.
During the last fortnight they have been gradually falling, and
3M per cent is now the quotation for three months’ Bank bills.Ì
The Bank rate is not expected to be altered; in fact, it is antici
pated that it will remain at 4 per cent for several weeks to
come. This tendency to improvement in the value of money
should, however, be looked upon as encouraging, as it indicates
a return of vitality in mercantile affairs. The many alarming
rumors which have been circulated during the last six months
as regards monetary, commercial and political affairs, have had
their natural effect. Business has been much restricted in con
sequence ; but a favorable all-round harvest and the almost
certain prospect of cheap food for several months to come, are
inducing merchants to strike out a little more boldly. It is»
however, somewhat early in the autumn for much to be at
tempted, and more than a steady legitimate trade during the
remainder of this year is not looked forward to.
Much anxiety has, during the last few days, been felt with
regard to the Franco-Chinese difficulty ; but recent Paris tele
grams state that the two nations will soon be able to arrive at
a modus vivendi. Speculators on the Stock Exchange, in the
absence of anything more tangible, have been utilizing the
i formation as much as possible; but, considering how limited
is the attendance in the city just now, their attempts have not
b 3en very successful. Prices are somewhat depressed; but
bona fid e holders of sound securities are not sellers, and some
scarcity of stock may manifest itself at the next, or at some not
very remote, settlement. Mexican Government and Mexican.
[VOL. XXXVII.
THE CHRONICLE.
312
railroad bonds have experienced a heavy fall, and some have
asserted that other departments of the Stock Exchange have
been dull in sympathy. On what grounds such an assertion
can be made is a question difficult to solve. Mexican securities
never did hold any high position on the London or a n y other
market, and the very dubious wording of the last reply ol tne
Mexican Government to the committee of bondholders is not
calculated to improve Mexican credit. Mexican securities Rave,
during the last year and a half, been forced up by a powerful
clique of speculators, and by a confiding public, to a nign
point, and the public will, no doubt, be as usual the heaviest
loser. As regards all good securities, the tone is undoubtedly
inherently sound. Securities chiefly dealt m on the ^ari
market, may, and no doubt do, suffer fluctuations, according as
the French Government’s colonial ventures succeed or fail, but
that offers little reason why the values quoted m the .London
Stock Exchange list should “ sympathize ” with them.
As already stated there has been very little demand either
for loans or discounts in the open market this week, and tne
quotations have had a downward tendency. For three mouths
bills the rate is only 3% per cent, while short loans are oWamable at 2 to 2 per cent on the best security. The supply ol
* bills offering is still very limited. They have, for some time past,
been kept back, as a reduction in the Bank rate was considered
to be possible ; but now that there is much less expectationi ol
such a change being made, more activity is likely to be in
£5,500; and the “ Don,” from the W est Indies, $5,800; 30,000 sovereigns
have been withdrawn from the Bank for Lisbon.
'
Silver
Our market has been quiet during ih e past week, and som e
am ount o f silver was sold at 50 9-10d. per oz. standard; bat th® Pr+u®
has since risen to our last w eek’s quotation o f SO^d., at w hich rate tne
bars ex “ G alicia” were placed to-day. This vessel brought £ 2 ..0 0 0
from Chili; the “ R hein,” from New Y ork, £30,000; and the L on , from
the West Indies, £5,200. The P. & O. Steamer “ Verona” took yesterday
£1 05,000 to Bom bay.
M exican Dollars arenom inally at our last week’ s quotation o f 49 5-ibCL
per oz., but we' think a higher price could be obtained fo r shipment per
next P. & O. steamer. A bout £6 0,00 0 have arrived from New Y ork, p ec
‘City of Chester” and “ R hein.” W e have no shipments to report.
Price of Gold.
Price of Silver.
)
Aug. 30.
Sept. 6.
s.
d.
s.
d.
77 9 .
Bar «old, fine— oz. 77 9
Bar gold, contain’g
20 dwts. silver..oz. 77 10% 77 10>é
73 0%
Span, doubloons.oz. 73 m
S. Am.doubloons. oz. 13 8% 73 3%
U. S. «old coin... òz. 76 3j4 76 • 3%
Gar. «old coin.. .oz.
d.
Bar silver, flne..oz. 50%
Bar silver, containing 5 grs. gold.oz. 54
Cake silver......oz. 54%
Mexican dols...oz. 49 5-16
Chilian dollars..oz.
Sept. 6.
Intere
for X
£
“ 10
« 17
“ 24
“ 31
Sept. 7
4
4
4
4
4
4
Disc’t Wses
Bank Bills.
Joint
Stock
At 7 to 14
Six
Four
Three
Four
jfe
Six
Three
Banks.
Gall. Days.
Months Months \Months Months Months Months
3
3xm
3%®3% 3%®3% 4 ® — 3%@4% 4 ®4i4 4M®4%
3^-3%
3
3U®3%i3%®4 4 @4% 4 ®4M 4 ®4% 4]4®4U
su m
3
3M© — 3H®3%\4 ®4% 4 .@4*4 4 @4M 4%®4%
S}{-3%
3
3%®S% 3%@ — 3Jjj@4 3%®4% 4 ®4% 4U®4%
3
3%®3%\s%® -\3U@3% S%®4 3%®4\i 4 ®4%
3
3H-3X
3i4®3iil S%®3%\3%@3% 3%®4 3%®4 3H@4H
■
London
51
54%
49 5-1$
United States.
All Countries.
Trade Bil Is.
d.
50%
The following return shows the bullion movements to and
from the United Kingdom in August and during the eight
months ended August 31, compared with the two precedmg-
r€The following are the quotations for money and the interest
allowed by the discount houses to-day and same day ol tne
previous five weeks:
________________ __________
Open Market Rates.
Aug. 30.
GOLQ.
Imports in Aug. ..
Imports in 8 mos..
Exports in Aug. ..
Exports in 8 mos..
1881.
1882.
1883.
1881.
£
£
£
£
40
945,061 1,104.893 1.413,671
14.874
7,001.241 11,619,452 5,531,728
388,199 1,371,289
3,109,596 2,145,984
9,660,889 9,861,270 4,089,259 5,658,794
1883.
1882.
£
550,000
603,314
33,269
£
240
4,9e2
459,785-
SILVER.
212,740
200,199
177,091
896,853
941,075
501.191
Imports in Aug. ..
1,879,357 1,498,39t 1,759,80S
Imports in 8 m os.. 4,880,437 5,960,025 6,08S,478
438,862
827,791
606,518
Exports in Aug.-.
48,650
25,620
Exports in 8 mos.. 5,278,913 6,055,962 5,940.8">9 -26.478
The exports of silver to British India were:
In A u g u st.
1881.
................£ 333’
1882.
£579,354
4,108,726
1883.
£3 76 ,1 0 0
3,879,949
It is stated that India will be able to export 20 to 25 million,
cwt. of wheat during the current season.
In consequence of the failure of Messrs. Richards, Power &
The preceding figures show a reduction of quarter per cent
in the rate of interest for deposits at fourteen days’ notice of Co., of Swansea, Mr. Joseph Hall has been compelled to lssueth e following circular : .
Q . . , OQQ
°
4 Cambridge Place, Swansea, Sept. 4, 1883.
Tenders were received at the Bank of England on Monday
G entlem en: I v ery greatly regret to inform you that in consequencer
for £1 931,000 in Treasury Bills. The amounts allotted were of the failure o f Messrs. Richards, Pow er & Go., in p artn e'sh ip w ith
as follows : In bills at three months, £1,731,000 ; do. at six w hom m v firm o f Parnell & H all lately carried on tlie business of tliekt Smelting W orks, 1 am obliged to suspend paym ent. Messrs.
months, £200,000. Tenders for bills at three months at £99 Hansam
T ribe Clarke and Cawker & Co., of Swansea, accountants, h a ve been,
3s. 10/4d. will receive about 98 per cent, above in f u ll; and in stru cted to p r e p a r e d statement o f affairs, w hich w ill be subm itted tofor bills at six months at £98 5s. 8d. and above in full* This is m y creditors w ith as little delay as possible. I am,
y ou r
_
J oseph m a l l .
equivalent to a discount charge of £3 4s. per cent for three obedient servant,
Trading
as
Joseph
H
all
&
Co.
months’ bills, and £3 8s. 4d. for six months’ bills.'
- .
Messrs. Harmood Banner & Son, accountants of Liverpool,,
Messrs. A. & "W. Ricards invite applications for £190,000^ in
shares of the Albert Railway Company of New Brunswick, also announce that in consequence of the failure of Messrs.
Canada. The price of issue is £59 for certificate of ten shares, Richards, Power & Co., Messrs. Darbyshir* & Co. of that, city
have been compelled to suspend paj’ ment, and that the liquida
each certificate representing £100 share capital.
<_
*
, t>
Annexed is a statement showing the present position o f tion has been placed in their hands.
The report written by Messrs. H. G. Oalcraft and R Giffen,
the Bank of England, the Bank rate of discount, the price of
cqnsols, of wheat, of cotton and of yarn and the Bankers’ and furnished to the Board of Trade, has just been issued. It
Clearing House return, compared with the three previous states that the position of the railway companies in the United
Kingdom in 1882 may be considered to have been almost sta
tionary; but some modest and steady progress was made.
1880.
1881.
years:
H
i
1882.
1883.
£
£
£
Mileage, capital, traffic, working expenditure and net earnings£
C ircu lation. . . . . . . . . . 25,789,195 26,406,060 26,517.870 26,959,760 have III increased by small percentages; but the increase o f
5,915,706
5,033,190
4,260,630
5,454,669
Public-deposits.........
¿ t h e r d e p o sits......... 23,558,990 23,552,844 25,780,960 24,932,926 mileage has been at a less rate than the increase of capital.
llQvernm ’t securities 11,962,631 12,180,154 14,557,649 15,313,792 An indication of the continued capital expenditure on anes open
IDther secu rities....... 21,609,753 23,186,555 22,374,837 17,685,806 for traffic. The increase of capital is 3 per cent, and of capital
«fees’ve o f notes &coin 13,943,259 11,006,605 12,422,148 16,404,895 tier mile open 1’4 per cent, indicating, as already stated, a con
Coin and bullion in
f both departments.. 23,982,454 21,662,665 23,190,018 23,374,655 tinuous outlay of capital on lines open. The capital per mile
(Proport’n o f reserve
now stands at £41,605, as compared with £41,019 m 1881.
40 p. c.
52% open
47-70
39*4
I to liabilities............
The increase of gross receipts, again, is 3/3 per cent, which m
4 p. c.
4 p. C.
4 p.c.
/B ank r a te .- ............
99*8
9958
100*8
Consols........................
553.
2d.
47s.
3d.
43s. 2d.
Eng. wheat, av. price
7*4d.
7d.
558d.
Mid. Upland c o tto n ..
10%d.
10*4
d.
9%d.
No. 40 Mule t w is t...
Clear’g-house return. 117,925,000 105,024,000 102,930,000
2*2 p. 0.
97%
43s. 3d.
7* ied.
ll*4 d .
87,265,000
somewhat larger than the increase in 1881 upon 18S0, while the
increase is differently composed, the passenger increase being
now 4 per cent, as compared with 1’3 per cent m 1881, the goodsincrease 2 5 per cent as compared with 2 9 per cent, and the
miscellaneous increase 6'7 per cent, as compared with 5*2 per
The Bank rate of discount and open market rates at the
chief Continental cities now and for the previous three weeks cent. The difference between the traffic increase in the two
years is thus mainly a difference in the passenger traffic, where,
have been as follows:
the increase in the last year is at twice the rate of the increase
in 1881. The improvement, however, is in^ no case excessive.
August 16.
August 33.
August 30.
Sept. 6.
The working expenditure again shows an increase of 3h per
Rates of
Interest at
cent, which almost exactly corresponds to an increase of 3 9 per
Bank Open Bank Open Bank Open Bank Open
Rate. Market Rate. Market Rate. Market Rate. Market cent in 1881. In the case of the net earnings as the result o f
the larger increase of passenger traffic, the comparison isa
3%
3%
3
3%
3
3
3%
4
3
entirely to the advantage of 1882. In 1881 the increase of net
4
3%
3
4
3%
4
— n 3% —
—
3
earnings was only IT per cent, or less than the rate of increase
3%
3%
—
—
—
3%
3%
3%
on eamtal; but in 1882 it is 3 per cent, or about equal to ; the
3%
3%
3%
3%
3%
3%
rate of increase ou capital. On balance, therefore, the year
SM
3%
3%
Amsterdam.......
3%
3%
3M
3M
3%
3M
3H
3%
1882 shows rather more favorably for the railway shareholder
5
4
6
5
4
6
5
4
6
5
4
6
5
4
6
5
3%
6
5
4
6
5
3%
^Thetrade^or6wheat, which was very quiet in the early part
of the week is now firmer, owing to unsettled weather through
out the country. The harvest in the North is not being satis
factorily gathered in, but the rams have been productive of
& Abell write as follows:
Gold.—Considerable amounts o f gold, chiefly from the Continent, have much good to the green crops. The value of wheat exhibits a
St. Petersburg..
6
arrived since the date o f our last Circular, and w ith the exception of
£3 5,000 shipi>ed to Bom bay per P. & O. Steamer Verona, there being
n o export inquiry whatever, the w h ole has been taken to the Bank of
' E ngland, about £2 78,000 in bars and coin having been sent in. The
“ Elbe,” from Buenos A yres, brought £7,800; the “ Paramatta, from
-Australia, £ 3 6 ,0 0 0 in bars axil sovereigns; the “ Tartar,” from the Cape,
8llfh e foRowing quantities of wheat, flour and Indian corn are
estimated to be afloat to the United Kingdom, Baltic supplies*
not being included:
THE OHR
S eptem ber 22, 1883.]
A t present.
•Wheat......... ..q rs.l,644,000
Flour...............
129,000
Indian corn.. . . __ 269,000
Last week.
1,750,000
170,000
303,000
1882.
2,042,000
142,000
170,000
313
1881.
1,864,000
147.000
326,000
ffhmmerclal aixtl RttisceUaueims 3|eurs
Liberal, though, less extensive, shipments of cereals have
again been made from St. Petersburg to Western Europe. Of
•wheat last week they were as follows: By steamer to London,
45,065 chetwerts; -to other United Kingdom ports, 11,349; do.
for orders, 25,482; to the Continent, 55,735; and by sail for
orders, 6,548 chetwerts. Of oats the totals were as follows: By
steamer to London, 47,987; to other United Kingdom ports,
2,500; to the Continent, 50,639 chetwerts.
Annexed is a return showing the extent of the imports of
•cereal produce into the United Kingdom during the first
week of the season, the sales of home-grown produce during
fh e same period, the average price of home-grown wheat, the
risible supply of wheat in the United States, and the quantity
o f wheat and flour afloat to the United Kingdom, compared
With previous years:
Imports AND E xports FOR the W eek.—The imports of last
week, compared with those of the preceding week, show a
decrease both in dry goods and general merchandise.
The total imports were $7,601,097, against $8,457,546 the pre
ceding week and $8,131,822 two weeks previous. The exports
for the week ended Sept. 18 amounted to $7,053,917, against
$6,197,157 last week and $7,172,696 two weeks previous. The
following are the imports at New York for the week ending
(for dry goods) Sept. 13 and for the week ending (for general
merchandise) Sept. 14; also totals since the beginning of first
week in January:
IM P O R T S.
__
1883.
W h e a t................. ewt. 1,670,770
8,439
B a rle y .................
Oats.................. ............
315,412
P e a s ........................
22,539
Beans...................
100,953
690,833
Indian co m .......... .......
H our.................
241,997
1882.
2,152,754
78,155
407,858
7,132
55,016
344,906
260,763
1881.
1,098,337
52,832
161,141.
6,825
37,109
709,103
204,123
1880.
1.671.588
29,210
421,813
8,817
36,877
656,552
176.201
SU P P L IE S A V A IL A B L E F O R CO NSU M PTIO N .
1883.
Imports of wheat.cwt. 1,670,770
Imports of flo u r..... . 241,997
Bales of home-grown
produce....... ........
520,250
1882.
2,150,754
260,763
1881.
1,093,337
204,123
1880.
1.671.588
176.201
596,150
369,550
238,340
Total.....................
2,433,017
3,007,667
1,672,010 L2,136,129
A v ’ge price of English
whe^t for season.qrs. 43s. 2d.
47s. 3d.
55s. 2d.
433.3d
Visible supply of wheat
in theU. S .... bush.20,700,000 12,045,600 19,507,650 14,000,000
Supply of wheat and
flour afloat to U. K.
2,312,000
1,919,000
q r s . . . . . . . . . . . ---- ... 1,920,000
Annexed is a return showing the extent o f the imports of
wheat and flour into the United Kingdom during the past season
— viz., from September to August inclusive:
1882-83.
From—
dot.
Russia....................... 11,694,284
United States......... 33,206,027
Brit. N. America ... 2,744,331
G erm an y..!. ....... 3,208,310
P ran ce.......... ...........
11,627
G h ili.......................... 2,414,141
Turkey & Roumania 1,651,549
E g y p t .....................
820,451
British India___. . . . 8,452,316
Australia................. 2,028,052
Other countries.......
939,976
Wh e a t .
T o ta l.................. 67,171,064
•
1881-82.
Cwt.
8,629,297
32,604,315
2,821,336
3,257,275
5,392
1,311,981
328,786
286,970
9,740,310
2,681,843
137,497
1880-81.
1879-80.
Owt.
Cwt.
2,355,226
4,820,758
37,662,181 38,138,729
3,165,053
4,788,113
689,808
2,386,690
3,195
6,143
1,182,231
1,791,205
346,828
2.460
1,188,532
2,287,946
5,178,551
2,486,182
4,237,712 \ o -, nr81,443 i , 3,10/ ,465
61,805,002
55,990,760
59,815,691
1,747,197
248,321
6,526,646
315,734
2,326,822
1,235,883
235,918
8,198,628
407,119
2,165,014
938,080
266,280
7,026,966
463,780
1,736,612
11,164,720
12,242.562
10,431,726
F lou r.
G erm any................. 2,144,183
P ran ce.................
172,980
United States............ 11,113,281
Brit. N. America . . .
386,939
Other countries........ 2,659,990
T o t a l . . . . .......... 16,477,373
F O R E IG N IM P O R T S A T N E W Y O R K .
For Week.
1880.
1881.
1882.
1883.
Dry good s........
Gen’l mer’dise..
$2,912,612
9,881,945
$2,694,985
5,906,437
$3,169,658
6,645,915
$2,473,932
5,127,165
$12,797,557
$8,601,422
$9,815,573
$7,601,097
$96,785,870 $82,233,080 $99,574,117 $91,934,182
261,987.434 228,562,095 262,699,124 236,483,192
Total 37 weeks $358,773,304 $310,795,175 $362,273,241 $328,417,374
Since Jan. 1.
Dry good s........
Gen’I mer’dise..
In onr report of the dry goods trade will be found the imports
of dry goods for one week later.
The following is a statement of the exports (exclusive o f
specie) from the port of New York to foreign ports for the
week ending Sept. 18, and from January 1 to date :
EXPORTS FRO M N E W Y O R K FOR TH E W E E K .
1880.
, 1881-82.
£34,599,225
5,098,949
4,134,970
842,205
743,148
7,906,237
9,R98,009
1880-31.
£29,701,361
4,336,126
3,925,204
933,984
978,318
11,391,160
9,817,312
1879-80.
£34,379.137
5,503,936
5,528,685
804,440
1,116,673
9,675,967
8,692,143
T o t a l.... £68,260,800
£62,622,743
£61,083,465
£65,700,981
1882.
1883.
$8.728,104
$8.345,639
$7,161,211
$7,053,917
283,683,810 267,442,900 232,511,316 247,199,663
Total 37 weeks $29*411.914 $275,788,539 $239,672,527 $294,253,580
The following table shows the exports and imports of specie
at the port of New York for the week ending Sapt. 15, and
since Jan, 1, 1883, and for the corresponding periods in 1882
and 1881:
E X P O R T S AN D IM P O R T S O P SP E O IE A T N E W Y O R K .
Gold.
Exports.
Week.
Great Britai n ........
France........... .
Germany___. . . . ..
West Indies............
M e x i c o ...............
South America.......
All other countries.
Total 1883.
Total 1882.
Total 1881.
Imports.
Since Jan A,
$9,300
20,080
215,003
114,785
Week.
SineeJan.l.
$1,983,468
9,650
113,870
211.135
2,277,142
6,598 : 2,530,822
78,308
11,563
165,291
607
20,433
$359,168 $239,553 $7,149,334
107,150 33,749,884
26,867
765,158
375,346 2,687,098 42,840,407
Silver.
Britain. . . . . .
The estimated value of the imports of cereal produce i im Great
France.....................
ported into the United Kingdom during the past season is Germany.................
West Indies............
shown in the following statement:
18S2-S3
Wheat.......... £33,575,189
Barley
5,617,841
Oats..
5,263,023
P ea s.
834,373
Beans___. . . .
1,271,110
Indian corn..
8,884,808
Flour---- . . . .
12,814,456
1881.
For the w eek...
Prev. reported..
M exico...................
South America___
All other countries.
Total 1883.
Total 1882.
Total 1881.
$166,300
',934,444
466,419
158
43,276
12,645
13,773
3,791
5,281
6,408
$166,300 $10,461,706
227,500 9,134.838
245,1301 7,761,355
1,666
246,230
360,351
2,835,486
123.323
13,946
$24,492 $3,581,002
39,533
1,909,457
43.625 .2,152.667
Of the above imports for the week in 1883, $2,335 were
American gold coin and $6,922 American silver coin. Of the exports during the same time $54,000 were American silver coin.'
E n g lish M a rk et R e p o r ts —P e r C a ble.
Call for U. S. B onds.—The following call for bonds of the
The daily closing quotations for securities, &c., at London,
&nd for breadstuffs and provisions at Liverpool, are reported 3 per cent loan of 1882 was issued at the Treasury Depart
ment Sept. 19.
by cable as follows for the week ending Sept. 21:
T r e a s u r y D epartm ent , W ashington , Sept. 19,1883.
By virtue of the authority conferred by law upon the Secretary of the
Treasury, notice is hereby given that the principal and accrued interest
of the bonds hereinafter designated will be paid at the Treasury of the
Bilver, per oz............... d. SOiiie 50%
50%
United States, in the City of Washington, on the 1st day of December,
50%
50%
50%
Consols for money.......... 1003g 10013! 100151(1 100% 100*3,6 100*3le 1883, and that the interest on said bonds will cease on that date, viz.:
Consols for account........ 100% 100l51fi 101*16 101 ' 10015,6 1001%«
Three per cent bonds issued under the act of Congress approved July
Fr’ch rentes (in Paris) fr. 79‘85 x79'30 79-37*2 79-22*2 79-27% 79-20
12, 1882, and numbered as follows:
U. S. 4%s of 1891........... 115% 11512 115% 116*8 116*8 116*8
$50—original number 972 to original number 1,303, *>oth inclusive.
U. 8. 4s of 1907.............. 121% 121% 122i16 122% I223g 122%
$100—original number 6,720 to original number 9,450, both inclusive.
Chic. Mil. & St. P a u l___ 108%; 109% 109% 1093s 103%
$500—original number 2.927 to original number 3,977, both inclusive.
Erie, common stock....... 32 *2
32%
33
$1,000—original number 19,975 to original number 22,635, both in
33%
32*2
Illinois Central........ .
133% 133 34 133% 134
clusive.
133% 133%
N. Y. Ontario &West’n. 23%
23%
23%
23%
$10,000—original number 27,010 to original number 28,208, both in
23*8
Pennsylvania................. 60%
60%
60%
60*2
clusive. Total, $15,000,000.
60*2
Philadelphia & Reading. 26^2
26%
26%
26%
As required by the following provision of the authorizing act, viz.:
26%
26*2
New York Central___;.. 119% 119*2 120*2 1121% 119% 120
“ The last of the said bonds originally issued under this aot, and their
substitutes, shall be first called in, and this order of payment shall b8
followed
until all shall have been paid.” Tiie bonds described by num
Liverpool.
Sat.
Mon. Tues.
Wed. Thurs. Fri.
bers above are the bonds of the original issue which were last dated
and
numbered,
or their substitutes, i. e., bonds which have been issued
s. d.
s. d. 8. d. s. d. 8. d.
8. d.
on transfers in exchange for original bonds, and which bear an original
Flour (ex. State)..100 lb. 12 0 12 0 12 0 12 0 12 0 12 0
as
well
as
a
substitute
number. All of the bonds of this loan will be
Ö 7
Wheat, No. 1, wh. “
8 6
8 6
8 6
8 6
8 6
called by the original numbers only. Many of the bonds originally
Spring, No. 2, old “
9 0
9 0
9 0
9 0
9 0
9 0
included
in
the
above
numbers
have been transferred or exchanged
Spring, No. 2, n .. “
8 5
8 4
8 3
8 3
8 3
8 3
into other denominations on “ waiver,” the original numbers being can
Winter, West., n “
8 9
8 8
8 6
8 6
8 6
8 6
celed,
and
leaving
outstanding
the amount above stated. Bonds for
Cal.. No. l .. . _ «
9 1
9 3
9 3
9 1
9 3
9 3
warded tor redemption should be addressed to the “ Secretary of the
Cal., No. 2........
“
8 11
8 11
8 11
8 11
8 11
8 11
Corn, m ix., new___“
o 6
5 4L? 5 4*2 5 4*2 5 5 - 5 5*2 Treasury, Division of Loans, &c., Washington, D. C.,” and all thehonds
called by this circular should be assigned to the “ Secretary of the
Pork, West. mess.. $ bbl. 72 0 72 0 72 0 72 0 72 0 72 0
Treasury for redemption.” Where checks in payment are desired in
Bacon, long clear, new 36 6 36 0 35 6 35 0 35 0 35 0
favor of any one but the pa3ree, the bonds should be assigned to the
Beef, pr. mess, new, 18to. 75 0 74 0 74 0 74 0 74 0 74 0
“ Secretary of the Treasury for redemption for account of ” (here insert
Lard, prime West. 18 cwt. 43 0 42 0 42 0 42 0 42 0 42 0
the name of the person or persons to whose order the cheek should be
Cheese. Am . ch o ice___ 51 0 52 0 52 0 52 0 52 0 52 0
made payable.)
Charles J. F olger , Secretary.
London.
Sat.
Mon.
Tues.
Wed.
Thürs.
Fri.
314
¡CRRONICLE.
S k m h e r s ’
Per
Cent.
R a ilro a d s.
Buffalo N.Y. & Filila, pref. (quar.)
Chic. Mil. & St. Paul com. & pref.
Dubuque & Sioux C it y ................
N. Y. Lack. & Western (quar.)__
Oreg. & Trans-Continental (quar.)
1*2
3^
3 1*4
lkî
When
Payable.
Sept.
Oct.
Oct.
Oct.
Oct.
25
lb
15
1
15
Books Closed.
(Days inclusive.)
Sept. 22 to Sept. 24
Sept. 27 to Oct. 17
Sept. 30 to Oct. 15
Sept. 26 to Oct. 16
NEW Y O R K , F R ID A Y , SEPT. 2 1 , 1 8 8 3 - 5 P. M.
The Money Market and Financial Situation.—The last
week has been singularly devoid of any incidents or develop
ments, either favorable or unfavorable, in connection with
mercantile or financial interests in the United States. There
was a bank failure in Montreal, but as far as'has yet been
developed it was due to local causes special to itself, and not
to any general condition of mercantile affairs in the Do
minion. The aspect of affairs in the United States has
improved in the respect that it is now reasonably certain that
While some o f the important crops will be smaller than last
year, none will be below the average of the past five years.
Cotton w ill fall below 1882, and so will wheat; but corn
and oats—notwithstanding the damage to the former by
frosts—are both pretty certain to afford an excellent yield.
The importance of these latter crops will be the better under
stood by the statement that the average money value of the
corn crop is nearly 50 per cent o f the total value of the crops
o f cotton and all grains put together.
. The general monetary situation still presents the unusual
feature of a plethora o f money at exceptionally low rates
6f interest, especially in New York, but also to some extent in
London. A year ago the Bank of England rate o f discount
was 5 per cent, against 3% per cent now, and in New York the
rates for call loans early in September were as high as 8 and 10
per cent, whereas the rate during September this year has
scarcely been above 2 per cent. In London Ikere was a special
cause in the Egyptian difficulties for the high rate of discount
a year ago; but in New York the cause of the difference in rates
is to be found in the fact that an unusually large amount of
money is still held out o f more permanent investment and to
the entire absence of any desire to engage in speculation.
The distrustful feeling is in great part due to the uncertainty
with regard to the outcome of some o f the great railroad enter
prises of recent years which are now just beginning to make
their influence felt. The situation in the railroad system has
been greatly changed during the last year or two. Practically
four new trans-continental lines'have been added to the one
previously in existence, while between New York and Chicago
we also have four new pieces that go to form, either
in whole or in part, through routes to the seaboard.
"With an almost equally great change in the facilities for
transportation in other sections, it is natural that capital
should take a conservative attitude toward investments in
securities of this kind until a little experience shall determine
how nearly the growth of traffic will keep up with the in
crease in mileage. This is perhaps the principal cause of the
unwonted plethora o f unemployed money in this country at
/present, though the continued redemption of United States
bonds has also added largely to the surplus of available funds.
The total redemptions during the week were $3,500,000, making
an aggregate of $19,310,000 of 3% per cents redeemed under
the 121st call since August 1, leaving about $12,700,000 to be
redeemed between now and November 1, together with
$15,000,000 threes under the 122d call (issued this week) to be
redeemed on December 1. There is consequently nearly
$28,000,000 ready to come out o f the Treasury within the next
Offays. A ll things considered, there is but little prospect of
he usual stringency this winter.
| Rates for mercantile discounts continue unchanged at 5%
and 6 for first class double-name paper for 60 days and 4
inonths, and 6 and 7 for single names. Time loans on stock
Collaterals are 4% and 5 per cent for 60 days and 4 months.
The Bank of England gained £96,000 in specie during the
week, and the reserve was increased to 46% per cent, from
46% per cent last week. There was no change in the Bank
rate o f discount, but the rate in the general London market is
- lower, and the prospect is regarded there as favorable to con- turned .ease. The Bank o f France’s weekly statement show's
a loss of 2,425,000 francs in gold and 925,000 francs in silver.
The following table shows the changes from the previous
' week and a comparison with the two preceding years in the
averages of the New York Clearing House banks.
J
1883.
Sept. 15.
Differ’ nets f r ’m
previous week.
1882.
Sept. 16.
1881.
Sept. 17.
Loans ana dis. $328,792,500 In c .$1,202,500 $320,570,300 $333,625,800
52,632,700
58.879.300 In c .
350,700
65.079,700
Specie............
18,371,200
15,533,400 Dec.
7.300
Circulation...
19.785.800
301,824,300
Net deposits. 317,911.500 Inc. 3,019,100
316,749,500
21,811,400
24,337,000 Dec.
345,000
Legal tenders.
14.561.800
Legal reserve. $79,477,875 Inc. 5754,775 $75.456.075 $79,187,375
74,444,100
5,7079,641,500
83.216.300 Inc.
Reserve held.
Surplus..........
$3.738.425 Dec $ 749.075 df.*1.011,975
«454.125
Exchange.—The posted rates for sterling have advanced
-during the week, mainly owing to the scarcity o f bills, from
4 82%@4 85% to 4 83@4 86. The actual rates for both sterling
and Continental bills were also proportionately advanced. The
rates of sterling for actual business on Friday were as follows,
xxxvn.
viz. : Sixty days, 4 82@4 82%; demand, 4 85@4 85)4'; cables,
4 85%@4_8o%; commercial bills, 4 80%@4 81%.
Quotations for foreign exchange are as follows, the prioes
being the posted rates of leading bankers:
C la v e tte .
D I V 1 D E N D S.
The following dividends have recently been announced :
Name o f Company.
[V ol.
September 21.
Sixty Days Demand.
Prime bankers’ sterling bills on London......
Prime com m ercial.................. ............ _
Documentary com m ercial_________
Paris (francs)..... ...............................
Amsterdam (guilders)................. .............
Frankfort or Bremen (reichmarks)............
.
4 83
4 81*2
4 S iti
5 23%
40
9414
4 86
5 211*
40 J4
9478
Coins.—The following are quotations in gold for various coins:
Sovereigns...........$4 82 ®$4 86
Napoleons........... 3 85 ® 3 89
X X Reichmarks. 4 73 @ 4 76
X Guilders. . . . . . . 3 96 ■® 4 00
8pan’hDoubloons.l5 50 ®15 60
Mex. Doubloons.. 35 50 ®15 65
Fine silver bars .. 1 10*2® 1 11
Fine gold bars...
par® q prexn.
Dimes & ^ dimes. — 99*2® par
Silver q s and ^ s . — 99%® par.
Five francs......... — 92 ® — 94
Mexican dollars.. — 86 ® — 86^
Do uncomraerc’l. — 84*2® —
Peruvian soles___ — 80*2® — Slkf
English silver. . . . 4 75 ® 4 81
Prus. silv. thalers. — 68 ® — 70*3
U. 8. trade dollars — 87 ® — 88
Ü. 8. silver dollars — 99 % ® t ar.
United States Bonds.—The feature of the week in the
government bond market has been the issue by the Secretary
of the Treasury of the first call for the three per cent bonds.
The effect of this call was to strengthen the prices of the long
date bonds, which close about % higher than a week ago,
and to weaken the threes, which record a decline o f about % .
The closing prices at the N. Y . Board have been as follows:
Interest Sept.
Periods. 15.
Sept.
17.
Sept.
18.
Sept.
19.
Sept.
20.
5s, continued at 31« .. Q.-Feb.
¿^ s, 1 8 9 1 ........reg. Q.-Mar. *11212 *11212 1127g 113 *113 *113
4^8,1891.........coup. Q.-Mar. 11258 *11212 11278 *11278 *113
113
Is, 1907...............reg. Q.-Jan. *118is *11812 11878 *U 8 7s 119 *119
4s, 1907______ coup. Q.-Jan. I I 912 1195s 11978 120 *120
I 2OI4
3s, option U. 8. ...reg. Q.-Feb. 10314 *10318 *103is 103
1027s *102%
6s, cur’cy, 1895. .reg. .?. & J. *129 *129 *129 *130 *130 *130
6s, our’oy, 1896..reg. J. & J. *130 *130 *130 *130 *131 *131
6s, cur’ey, 1897..reg. J. & J. *131 *131 *131 *132 *132 *132
133
6s, our’oy, 1898..reg. J. & J. 133
134
13312 *13312 134
6s. our’ev. 1899,.ree. J. & J. *134 *134 *134 *134 *134 *13410
* Tnis is the price bid at the morning board; no sale was made.
U. S. Sub-Treasury.— The following table shows the receipts
and payments at the Sub-Treasury in this city, as well as the
balances in the same, for each day of the past week:
Date.
Receipts.
Payments.
Balances.
Coin.
Currency.
$
$
$
935,980 41 118,961,359 07
904,017 59
Sep. 15..
“ 17..
1,492,805 80 1,762,409 30 118,900,260 97
“ 18.. *16,964,886,92 *16,561,661 79 119,249,274 87
1 19..
1,088,447 31 2,907,865 43 117,594,569 63
1,496,083 14 1.772,594 81 117,625,210 77
•A 20..
995,507 83 117,977,099 78
1,440,889 69
“ 21;.
$
7,417,782
7,209;2557,263,267
7,098,553
6,791,400
6,884,892
51
94
17
29
48
93
t23.386.930 45 Î 24,936,020 07
Total
lo,OOO,OOO was transferred from one account on the books to another.
t Above receipts include $600,000 gold certificates put into cash.
| Above payments include $620,000 gold certificates taken out of cash.
State and Railroad Bonds.—The market for railroad
bonds has been generally dull during the week, and mainly
for the reasons explained above, as regards the conservative
attitude of all capital toward railway securities. Nevertheless
there has been some investment demand, and a majority o f .
the issues are from % to 1 per cent higher.. The Villard secu
rities have been an exception, and have declined, the greatest
fall being 4% per cent in Oregon Trans-Continental firsts. The
following has been the range of quotations for the week in
the principal issues, viz.: Chesapeake & Ohio firsts,
series B, at 94%, 95%;
do. currency 6s at 48%,
4914, 49; New York West Shore & Buffalo firsts at
73% , 74%, 73%, 74%; Oregon & ‘ Trans-Continental firsts at
92%, 87, 89, 88; Northern Pacific firsts at 103%, 103%, 102%,
102%, 102%; Canada Southern firsts at 94%, 96,95%; Atlantic & Pacific incomes at 28, 29, 27; Denver & Rio Grande consols at
83%, 85%; Metropolitan Elevated firsts at 99, 100; Texas &
Pacific, Rio Grande division firsts at 78%, 78%, 78%; Wabash
general mortgages at 70, 69; and New York Chicago & St.
Louis firsts at 99%, 99%, 99%.
Transactions in State bonds during the week were confined to
Tennessee compromise at 43%, 42%, 43; Louisiana, ex-matured
coupon, at 63; Arkansas 6s funded ar 12%; do. issued to Little
Rock & Fort Smith RR. at 55, and Little Rock Pine Bluff &
New Orleans RR. at 38@40.
R ailroad and M iscellaneous Stocks.—The stock market
during the past week has been so entirely governed by the
movements of the two great factions of bulls and bears, who
have been attempting each to govern prices merely by their
buying and selling from hour to hour, and without reference
to the values or financial condition of the properties in
volved, that the legitimate buying and selling of investors has
been lost .sight of. The market is believed to be very largely
over-sold, but the’ bear party is probably one of the boldest
and most persistent that has been known in the market for
many years. In the determination to break down the general
market their attacks were directed' mainly at the Northern
Pacifies, Oregon & Trans-Continental, Union Pacific, Central
Pacific and Louisville & Nashville stocks. The net result of
many fluctuations during the week is declines as follows, viz.:
Oregon & Trans-Continental, 6% per cent; Oregon Railway &
Navigation, 3; Northern Pacific common, 3%; do. preferred,
4%; Union Pacific, 2%; Louisville & Nashville, 2%; and Cen
tral Pacific, 1%. Aside from these, the other declines, as com
pared with last Friday, are mostly fractional.
THE CHRONICLE.
y
Se ptem ber 22, 1833. !
NEW YORK STOCK E XCH AN G E
P R IC E S F O R W E E K E N D IN G S E P F . 3 1 , A N D
D A IL Y H IG H E ST AND LOWEST PRICES.
STOCKS.
Saturday,
Sept. 15.
3 1 5
Monday,
Sept. 17.
Tuesday,
Sept. 18.
Wednesday, Thursday,
Sept. 19.
Sept. 20.
Priday,
Sept. 21.
Sales of Range Since Jan. 1,1883.
the Week
(Shares).
Lowest.
Highest.
R A T .L R O A D S .
Atchison Topeka ifc Santa 1 e.
83i2 83%
83
83
Boston & N. Y . Air-L., pref...
57
57%
57% 58
58% 59
57 7s 58% 58% 59% 58 34 59
Canadian Pacific..........-..........
5434
5589 54% 55% 54% 55% 5384 5434 53% 54%
55
541a
Canada Southern...........
82%
8134 82% 81
82% 8234 82% 83
82% 82% 83
Central of New J ersey............. 82
66%
67 84
66% 68%
68% 6834 68% 69
68 % 68% 69
68
Central Pacific....................... .
*16
16%
*16
16%
*16
17
*16%
16
84
16%
16%
*16
16%
Chesapeake & Ohio-------- -—
28
28*28
2884
. Do
I s t p r e f- .. *27% 28% *27% 28% *27% 28% *27% 28
*18% 20
*19% 21
*19% 20 *2 *19% 20% *19% 20% *19% 21
Do
2d. pref—
133% 133%
133 134
Chicago & Alton.............. : ....... 133 133
125% 125 % 125% 125% 125 125 38 125 125%
125% 126
Chicago Burlington & Quincy. 125 *3 125
78 1061 106 106% 105% 106% 105% 106% 105% 106%
Chicago Milwaukee & St. Paul 105% 106% 105
121 % 121 % '121 121% 121 121
Do
pref. '121 121% 121% 12134 121%122
127% 128% 126% 127% 126% 127%
C h icago* Northwestern....... 127% 127% 127% 128% 127% 128 '147%
146 14634 145% 146
148
147%
148
147%
147%
148
148%
Do
pref.
123% 12334 123 123% 123% 123%
123% 123% 123% 124
Chicago Rock Island & Pacific '122 124
*14
14% *14% 15
*14
15
*14
15
15
15
15
Chicago St. Louis & Pittsburg 15
48
48% 48% 46 % 46 % *45
*44
47
*43
47
46
Do
pref. *40
41%
42
. 40% 41
413
4
413
4
413
4
42%
Chicago St. Paul Minn. <fc Oni. *41% 42 % 42% 42% 103% 104
102% 102%
103 103
103% 104
103 103"
Do
»ref. 103 103
Cincinnati °and. & Cleveland
6434 65%
65
65
65
65
65
65
-Cleveland Col. Cinn. & In d —
133 135
133% 133% 133 135
133 135
C leveland* Pittsburg, guar..
2% 2%
Columbus Chic. & Ind. Cent..
124% 123% 124% 123% 124% 123 12334 122% 123%
Delaware Lackawanna &W est. 123 12334 123%
26% 27%
26% 28% 26% 2734 26% 27
27% 283g 27 78 28 "
Denver & Rio Grande........
8%
8%
8
8
8
8
*8
8%
8%
8%
*734 8 %
East Tennessee Va. & Ga......
15%
15% 15% 15
15% 15% *15% 16
15
Do
pref. 15
*6%
7
*6
%
'
7%
*6%
7
‘
7
8
*6
7
Green Bay Winona & St. Paul
Hannibal”* St. Joseph............
Do
pref— .
190 195 *190 195 . 190 196
194 194
Harlem ............
---*58
61
60
60
*61
67
*61
67
65
Houston & Texas Central — . *62
129%
129% i.29% i.29% 129 129% 129% 129%
129%
129%
129%
129%
Illinois Central.........................
79%
79%
80%
80%
80%
80%
80%
803s!
Do
leased line__
25% 25% 25% 2534
"2 6 " “26“
26
26% 26
26% 26
Indiana Bloom’n & Western .. 26
22
22 Lake Erie & W estern..............
103%
104% 10234 104
IO334
105
10334
1047
8
Lake S h o r e ........... ................... 102 3g 10338 103 104
'75%. 75% *75 .77
*75
77
77
Long Island.............................. *75
49%
51% *48% "50%
.61
52
j
"5Ï%
"52%
51%
51%
51
51 %
Louisville & Nashville............
Louisville New Albany <S; Chic
*40
42
45
*42
*42
45
44% 45
42
41
Manhattan E levated........ ..
*86
*86
*86
*86
Do
1st pref............... *84
*40
45
*40
45
*41
*42
45
45
*39
45
Do
common.......... .
*18
20
19
19
19
19
18
Manhattan Beach Co............. .'. 18
42
42
*41
43
42
42
*42
43
*42
43
*42
43
Memphis & Charleston___....
*93 100
*93 100
*93 100
*90 100
*90 100
Metropolitan Elevated............ *89
82%
83%
82%
83%
83%
84%
82%
84%
83
84%
82%
83%
Michigan Central..................
Milwaukee L. Sh. * Western .
*43 . . .
*43 ........ *43 . . . .
*42% 44
' Do
pref, *41 ........
*24
24%
24
24
25
*25
25% 25
-25% 25%
Minneapolis & St. Louis........
50
62*4 *51% 52% 50
52% 52% *52
Do
pref, *52% 53%
26
2634 26
26%
■26%
27%
26a
4
27%
26%
27%
26%
26
7
(
Missouri Kansas & Texas......
98% 997,
t99%101«i
101 % 102
10
L
%
1013
4
10138
102
101
1017,
Missouri Pacific.......................
*13
14
*13
14
*13
14
*13
14
14
Mobile & Ohio.......................... *13
125 125
123% 123% 124 125
Morris & E ssex......................... 123% 125
*54
"
56
*54
...
........
*53
55
55
55
56
56
Nashville Chattanooga & S$.L. 55
8 117% 11634 117% 115% 117% 115% 116% 115 116%
Ne w Y ork Central & H udson. *115 % 117% 1157
9
9
*8%
9
*8%
834
834
834
8%
9
8
%
8
%
New York Chic - & St. Louis..
18% 18% '........ 18% *16% ___
18
18
181
Do
pref. *17 ..... . *17
*95 105
*95 ' 106
*95 105
*95 105
"95- 105
New York Elevated-.. ............. *95 105
85 84 85 *4
85% 85% 85% 84% 85
New York Lack. & Western .. 85 78 85 7t ;x84% 85 34 *84%
31% 30% 31%
31% 32 a8 3134 32% 31
New York Lake Erie * West. 31% 31% 3184 32% *76
*76
78
*76
78
78
*76
78
Do
pref.
24% 24%
24
24% 24% 24
24
24
24
24% 24
New York & N ew En gland.... 21
New York New Haven & Hart.
2 2 % 2234 22% 22%
22% 23% 22 34 23
2283 23
New York Ontario & Western. 2 2 % 23
*5 84 6 % *5»4 6%
6 % 6 % *534 7
*5% 6 *!
*5% 6 %
New York Susa. & Western...
*15
17
*15
17
*15
17
*15
17
*15
17
17
Do
pref. *15
39%
39%
39% 39
39
%
40%
39%
39%
39
40
*38%
39%
Norfolk & Western, pref... —
38% 36% 38%
39% 4084 37% 40% 37
403s 41
39 »4 41
Northern Pacific.........-— , —
69
73% 68 % 71% 68% 70%
7234 74% 74 '■ 75% 73% 75
Do
pref..............
4% 4%
4 % 4%
4% 4%
4% 4%l
4% 4%
4% 4%
Ohio Central.............................
30%
31%! *31% 3134 30% 30% 30% 39% 30
3134 3184 31
O h io * Mississippi__ . . . ------- Do
p r e f...........
9
9
Ohio Southern........................«
66% 60
65 84 58% 61% 58% 61%
6434 66% 65
Oregon & Trans-Continental.. 64 84 66
15% 15% 15% 15%
1584 1534 16
15% : 15% 15
15
Peoria Decatur & Evansville.. 15
513
4
52
%
51%
52% 50% 51% 5034- ol%
5134 52%
51
51£
Philadelphia & Reading.........
130% 131% *180% 131% 130 131 *x28%129%
Pittsburg Ft. Wayne & Chic.. 130% 131
R ich .* Allegh.,st‘ck trust ctfs.
*64
67
*64
67
*65
67
66
67
67
Richmond & D anville............. *64
*31% 32%
32
32
*32
33
*32
38
33
Richmond & West Point.......... *32
17%
18% 17% 18%
18%
18
18%
18%
18 38 18% 18% 18%
Rochester & P ittsburg...........
61
*59
*59 •62
61
*59
*59
61
St. Louis Alton & Terre Haute
*91
93
93
*91
Do
pref.
31
*28
*28
31
31
*28
*28
31
*28
31
31
St. Louis & San Prancisco...... *29
49
49% *47% 49% *47
49% *48
49% *48
49% *48
Do
pref. *48
*90
92
92
*90
92
*90
*90
92
*90
92
92
Do
Istpref *90
37
37
39%
*36
*36% 39
*36% 39
St. Paul & Duluth...................
92
*90
92%
*90
93
Do
. p re f........ .
109% 109% 109 3t
109
109
111
110
111
10934110%
St. Paul Minheap. & Manitoba 10934 111
29% 30% 29% 30% 29% 30% 28% 29% 28% 29%
29% 30
Texas & Pacific............... '........
Texas & St. Louis iu Texas ..,
Do
in Mo. and Ark
88
90%
91% 927, 89% 92
92% 93
9134
92% 93
Union Pacific............
22 , 22% 21% 2"
22
2 2 % 22% 22% 2 2 % 22 3,
Wabash St, Louis & Pacific...
33%
34%
34
35
34%
35%
3434
35%
3538 3434 3534
, Do
»ref.
M IS C E L L A N E O U S .
64
64
64
64
American Tel. & Cable Co___
132% 132% 132% 132% 132% 132%
13 2 84 132% 133 133
Bankers’ & Merchants’ T el..
*21
23
23 i 2
23
23
23
H
Colorado Coal & Iron ..............
107 107% 107% 107% 107% 107%
108%
108%
107% 107%
Delaware & Hudson Canal.... 100 100
1SS4 1o34 16% 16"
18% 18% 18% 18% 17% 17% '110
Mutual Union Telegraph____
110 120
120
ILO 120 >110 120
'I l o 120
New York & Texas Land Co.,
88% 88%
84
83% 83% 84% 84% . 84
83
84
Oregon Improvement Co......
125 126
127 .127% 127% 127% 126% 127
129 129
Oregon Railway & N av.Co___ 129 129
36% 3834 38% 39%
37%
38
3
4
35%
3884
,3434
34
35
357
,
Pacific Mail..............................
131) 130
129 129
130 130% 13Ü 130
Pullman Palace C ar.,..............
*6
7
*6
7
*6 i 7
*6
7
” *é” "” 7“
” 7
Quicksilver M ining.................
*32
34
*32
34
*32%
33%
*32
33%
*32
34
33
Do
p r o f...__
82 34 82% 83% 82% 83% 82% 83% 480% 8234 79% 81
82
Western Union Telegraph......
EXPRESS.
135 '132 135 '133 135
Adam s.,— ....................... — '133 135. •133 135 •132 135 '132
89% 89%'
*89
90
89
89% 89% 89
90
90
90
American..........„ ...................... *89
*60
65
*60
62
*60
62
*60
62
61
*59
61
United States........................ . *59
'117
120
118
118
116%
116%
117%
117%
W ells, Pargo & Co__________ '116 120 '117 120
C O A L A N D M IN IN G .
Consolidation C oal...:». . : __ _
Homestake Mining Co..-.........
j Little Pittsburg Mining..........
Mariposa Land and M ining....
Maryland Coal. . . . __ »..............
. New Central. Coal...................
Ontario Silver M ining............
Pennsylvania Coal........... ...... '775 278
276 276
12
Cameron Coal....................... .. .
*1
12
Central Arizona M ining..........
Deadwood Mining....................
Excelsior Mining......... .
Robinson Mining........
Silver Cliff Mining.....".’ "” ” ""
Standard Consol. Mining"
5%
Stormont Mining............ ........
These are the prices hid and asked; no sale was made at the Board,
Ex-privilege.
S IN C E J A N . 1 , 1 8 8 3 .
15
17,360
14,045
10,498
37,855
220
50
280
3,906
S8.151
610
22,620
800
887
150
175
1,700
1,990
800
100
100
185,150
46,197
700
700
5
200
1,960
981
*2,736
100
100
109,160
91,190
700
850
600
21,900
729
110
10,340
20,680
40
3,200
40,249
550
200
337
87,906
1,150
3,685
100
3,510
135,002
455,755
1,972
1,300
100
231,785
* 2,183
51,900
200
300
6,250
13.400
22,755
108,692
12.028
21,850
Por Puli
Year 1882i
Low. High..
78%Peb. 17 84 84June 14
95%
78 Mar. 28 84 84 May 3
80%
52% Aug. 13 65 % May 3
48% Aug. 14 7134 Jan. 19 44
73
68% Jan. 8 89 June15 63% 97%»
62% Aug. 13 88 Jan. 5 82% 97%
13% Aug. 14 2334 Jan. 20 19% 27
23 Augt 14 35% Jan. 20 - 27% 4 1 %
18 Aug. 31 27 Jan, 22 21
29«
128 Aug. 15 137% Jan. 22 127% 145%
U534 Peb. 20 129% Apr. 13 120% 141
97% Aug. 14 108% Jan. 20 96% 128%116 Aug. 14 1Ü2% Sept. 7 114% 144%;,
119% Aug. 14 140% Apr. 13 124 150%
137% Aug. 14 157 Apr. 13 136 175
117% Aug. 13 127% Jan. 5 122 14Q%,
10% Aug. 31 22 Apr. 21
38 Aug. 11 5734 May 16
3634 Aug. 13 55 Jan. 18 2934 58%,
97 Aug. 14 113% Jan. 5 97% 117
38 May 22 49% Mar. 9 44
59 Aug. 14 84 Jan. 5 65% 92%
124% Aug. 13 142 Jan. 26 133 14ÛL—
3% 21%
2% Sept.15 7 % Mar. 5
118% Peb. 16 131% Apr. 13 116% 159%
21% Aug. 21 51% May 3 38% 74%
7 Aug. 14 11% Apr. 13
8
16 ■
13% Aug. 14 23 - Apr. 14 15% 26%.
6
5 Feb. 9 10% Apr. 12
3I& k
4684
Jan.
17
38 Mar. 6
45 119
72 Jan. 3 9734 May -6 72 111%,
190 Aug. 28 200 Jan. 29 196 208
58 Aug. 24 82 % Apr. 5 61
92%
124 Aug. 14 148 June14 127% 150%
77 Peb. 17 81 Jan. 22
19% Aug. 14 35% Apr. 9 30
49%
18% Aug. 13 33% Jan. 18 23% 45
9834 Aug. 30 114% Jan. 18 98 120%
60 Jan. 2 8634 June 30 49% 65
40% Aug. 27 58% Jan. 20 46% TOO3.*.
57 ; 7839% June 20 68 Jan.
69%,
38 Aug. 14 53% Peb. 9 40
80 Aug.lH 90 Jan. 18 82
98%>
56
38 Aug. 17 53 Feb. 10 40
37
15 Feb. 21 30%June30 15
34% Aug. 13 55 Jan. 8 42%
93.
76 May 17 95% Sept.14 77
80% Aug. 27 100% Jan. 19 77 105;
2 Ï ' ■.
10 J n n e ll 18 Jan. 4 13
38 Aug. 28 48% Jan. 20 4l34 58%
19% Aug. 14 30 84 Jan. 18 19
36%,
77
47 Aug. 15 68% Jan. 18 59
21% Aug. 14 34% Jan. 18 26% 4 2 %
93 Aug. 14 106% Apr. 9 86 % 112%
12
35%.
10% Aug. 13 19% Jan. 5
120 Peb. 15 129% J u n e ll I I 934 128
87%
50% May 17 64% Jan. 22 47
113% Aug. 13 129% Mar. 10 123% 13&17 Aug. 13 15%Jan. 5 10 % I 17%.
37%
17 Aug. 13 35 Jan. 4 27
90 Aug. 23 105 Peb. 16 100 109%
84% Sept.20 89% Mar. 5
28% Aug. 13 40% Jan. 13 33% 43%
88 %
72 Aug. 13 83 Jan. 5 67
60%
20% Aug. 8 52% Jan. 9 45
169 Jan. 16 183 May 28 168 186
1934 Aug. 13 29% Apr. 14 20 % 31%
5 Aug. 28 8% May 10
1434 Aug. 11 2 134 May 10
32 Aug. 14 4934 Jan. 20 44% 60
3534 Aug. 30 53% June 14 28% 54%
68% Sept.21 90% Junel4 6634 100%
3% Sept. 6 14% Apr. 13 11% 25%
•27 Aug. 14 36 84 Apr. 13 27 I 4 2 ^
96 Peb. 16 112% Junel3 9034
23%
7 July 24 1434 Apr. 24 11
98%,
56 Aug. 14 89 Jan. 19 60
12 Aug. 30 28 Jan. 18 23 ’ 39%,
46% Aug. 27 61% June 15 46 84 6 7 %
130 May 31 138 Jgn. 16 130 139
40
5 June27 15% Apr. 16 13
47 Jan. 13 72 J uly 23 52 25021 Feb. 16 39 June 2 23 263
14 Aug. 11 23 Apr. 4 17% 36%
48 Jan. 3 85 June 19 20 % 50
65
94%
86 Aug. 28 103 Apr. l i
46%
22% Aug. 14 36% May 31 31
66%
4T Aug.14 59%June 2 43
87% Aug. 23 100% Jan. 11 7934 106%
423*
33 Aug. 13 40% Jan. 9 26
99%
91 Feb. 20 9734 June 16, 68
tl0 3 34July24 169% Apr. 16 108% 166%
55 ■ ;
24% Aug. 14 43 Jan. 18 34
31
15 Aug. 29 27% June 14 15
20% July 25 2434 June 29
86% Aug. 13 104% Jan. 181 98% 1193*
39%
15 Aug. 14 36% Jan. 18j 23
2934 Aug. 14 57% Jan, 18 45 7É 71%
74 ■
54 61% Aug. 31 69% Junelö! 65
650 121 July 18 140% Aug. 301 125 132
53 %
400 19 Aug. 23 33% Ajar. 16 25
860 103% Aug. 30 112% Apr. 14 1023^ 1193*.
600 15 Aug. 31 25 Jan. 1.7 19 7i 30%
55.
55 Mar. 13 125 July 20 37
” 469 77 -Aug. 14 9l% M ar. 5
4,700 125 Sept.21 150 June14 128 163%
21,150 28 Aug. 14 4434 Apr. 9 "323 48 % 645 117 Feb. 23 134 June13 117 145
8- 14% :
9%. Mar. 3
7% Juné U
62%
” ib"ô 33 Aug. 18 46 % Mar. 6 40
49,161) 7134 Aug. 16 88%June34 76%; 93%
126% May 5 135 Jan. 5 133 149%
97%
83 Mar. 16 94%June 9 90
80%
65% Jan, 6 62
115 116% Sept; 19 128 June21 125 132
24 May 18 27% Jan. 19 27% 36%15 Mar. 6 19 Jan. 19 15% 1 9 %
1% 2%„
1% 2 %
26 12 Aug. 24 17 Jan. 15 13
14 Jan. 4 13% Æsa-e
10
Aug.
6
------ 18 Feb. 10 35%.tan. 8 33
40
31 270 Feb. 2 28034 July 21 240 245
37%
14 Feb. 27 18 J an. 3 18
% Jan. 12
%
1%
% Mar. 26
......
t)3*
4
% 2%
1
4
2
23«
4%
5% Sept. 7 ” 7% j ’i i í y '7
"2ÖÖ
1 Io i % .
X Lowest price is ex-dividend.
THE CHRONICLE.
316
[V ol. XXXVII.
QUOTATIONS OF STATE AND RAILROAD BONDS AND MISCELLANEOUS SECURITIES.
STA TE
SECURITIES.
Alabama— ,
Class A, 3 to 5,1906---Class A, 3 to 5, sm all...
Class B, 5s, 1906...........
Class C, 4s, 1906...........
6s, 10-20S, 1900.............
Arkansas—
6s, funded, 1899-1900 ..
, 7s, L. Rock & Ft. S. iss.
7s, Memp.&L.Rock RR
7s, L. R.P.B. & N.O. R E
7s, Miss. O. & R. R. RR,
7s,: Arkansas Cent. RR.
Connecticut—6s, 1883-4..
Georgia—6s, 1886............
7s, new, 1886... — .....
7s, endorsed, 1886........
7s, gold, 1890...............
Louisiana—
7s, consol., 1914...........
7s, small.........................
Bid.
10
55
50
35
35
19
70
Ask.
SECURITIES.
Bid.
Louisiana—Continued—
Ex-matured coupon..
Michigan—
7s, 18 90.....................
Missouri—
6s, due 1886..............
6s, due 1887................
6s, due 1888................
12is
6s, due 1889 or 1890..
A syl’m or Univ., due ’92
Funding, 1894-95 ........
Hannibal & St, Jo., ’86.
Do
do
’87
New York—
6s, gold, reg., 1887........ 108
6s, gold, coup., 1887---6s, loan, 1891................
6s, loan, 1892___. . . ----6s, loan, 1893................
N. Carolina—6s, old, J.&J. 30
30
6s, old, A .& O .-.............
BONDS.
Ask.
SECURITIES.
N. Carolina—Continued—
No Carolina RR.,J.&Jt
Do A.&O..............,f
Do 7 coup’s off, J.&J.
Do 7 coup’s off, A.&O.
Funding act, 1866-1900
Do
1868-1898
New bonds, J.&J., ’92-8
Do
A.&O
Chatham R R .................
Special tax,class 1, ’98-9
Do
class 2’........
Do to W. N. C. R R .
Do
W esternRR...
Do
Wil.C.&Ru.R.
Do
W ’n. & T arR .
Consol. 4s, 1910............
Small.............................
Ohio—
33
6 s,1886....................
32is Rhode Island—
6s, coupon, 1893-99.
K A IL K O A D
Ask.
160
160
135
135
10
10
16
16
3b
4
4
4
4
4
4
78 b
SECURITIES.
South Carolina—
6s, A ct Mar. 23, 1869 >
non-fundable, 1888. i
Brown eonsol’n 6s, 1893
Tennessee—6s, old,1892-8
6s, hew, 1892-8-1900 ...
6s, new series, 1914___
G”mp’mise,3-4-5-6s,1912
Virginia—6s, old..............I
6s, new, 1866.................
6s, new, 1867.................
6s, consol, bonds...........
6s, ex-matured coupon.
6s, consol., 2d series___
6s, deferred....................
District of Columbia—
3-65s, 1924....................
Small bonds............
Registered....................
Funding 5s, 1899..........i
Do
small......... i f
Do
registered...
Bid.
38
36
36
43
Ask.
40
40
43
108 Va
108b
108 b
110
110
110
BONDS.
Mich. Cent.—Continued—
Rome W.&Og.—lst,7s,’91 *107 b
Jack.Lan.& Sag.—6s,’91
Con. 1st, ex. 5s, 1922... 67
68
Mil. & No.—1st, 6s, 1910.
92 b Roch.& Pitt.—1st,6s,1921 107
(Stock Exchange Prices.')
Mil.L.S.&W.—
lst,6s,1921
101b
101b
Ala.Central—1st, 6s, 1918
Rich. & A l.—1st, 7s, 1920 74
75b
Minn.&St.L.—1st,7s,1927 120
Rich.& Danv.—Cons.g.,6s 96
A lleg’y Cen.—1st, 6s,1922
96 b
Iowa Ext.—1st, 7s, 1909 114 118b
Atch.T.&. S.Fe—4 b ,1920
65
Debenture 6s, 1927......
2d, 7s, 1 8 9 1 ..............
Sinking fund, 6s, ,1911- *
Atl.&Ch.—1st, n., 7s.,’ 97
96
S’thw.Ext.—lst,7s,1910 111b
A tl. & Pac.—1st, 6s, 1910 *114
Incomes, 1900.............
Pac. Ext.—1st, 6s, 1921. 102 b 103
Balt.& O.—lst,6s,Prk.Br.
SciotoVal.—1st, cons., 7s.
88
Mo.E.&T.—Gen.,6s, 1920 80 b 81
St. L. & Iron Mt.—1st, 7s 112b
Bost. Hartf. & E.—1st, 7s 24
24
Cons. 7s, 1904-5-6...__ 106 106*8 2d, 7s, 1897.................... 107
Guaranteed...................
Cons. 2d, income, 1911. 54 b 69
Bur.C.Rap. & No.—1st,5s 100
Arkansas Br.—1st, 7s... *107 b 109
H. & Cent. Mo.—l8t,’90
- Minn. & St. L.—1st,7 s,j
Cairo & Fulton—1st ,7s.
106 b
Mobile & Ohio.—New, 6s. 105
IowaC. &West.—1st,
Cairo Ark. & T.—1st, 7s ib ë ” 106 b
Collât. Trust, 6s, 1892..
C .R ap.Ia.F .& N .-lst,6s
Gen. r’y& 1. gr., 5s, l9 3 l 74 b 75*2
Morgan’s La.&T.—1st, 6s
St. L. Alton & T. H.—1st. *111
1st, 5s, 1921...............
98 b
Nash.Chat.&St.L.—1st,7s 117
But. N.V. & Phil.—1st,6s
2d, pref., 7s, 1894.......... 107 b
2d, 6s, 1901.................... 100 102
Central Iowa—1st, 7s, ’99 *106 107
2d, income, 7s, 1894___ 103 b
80
East. Div.—1st, 6s,1912
N. Y. Central—6s, 1887.. 105*8 106
Bellev. & 8. 111.—1st, 8s
126
Í06b
... 105
Char. Col. & Aug.—1st,7s
Deb. certs, extd. 5 s ..
108 b 110b
Ches.& Ohio—Pur. m’ yfd.
N.Y.C. & H.—1st, cp.,7s 129 b
2d, 6s, 1909.................... ........ 112
i
i
o
"
i l 0b
6s, gold, series A, 1908.
5 1st, reg., 1903........... 129b 130b
Dakota Ext.—6s, 1910.. *110*4 111
6s, gold, series B, 1908. 95 b
Huds. R.—7s, 2d,s.f.,’85 104 b
1st consol. 6s, 1933...... 10134
6s, currency, 1918........ *102” *49 »4
Can. So.—lst,int.g’ar.5s 95 b 96
Min’s Un.—lst,6s,l922.
129
Mortgage 6s, 1911...... Harlem—1st, 7s, coup
St. P. & Dnl.-lst.5s,1931
Chicago & Alton—1st, 7s.
N. Y. Elev’d—1st,7s,1906 116 Ï17
So. Car. Ry.—1st, 6s, 1920 104
Sinking fund, 6s, 1903.
N.Y.Pa.&O.—Pr.l’n,6s,’95
2d, 6s, 1931.............. .
101
60
La. & Mo. Riv.—1st, 7s.
N.Y.C.&N;—Gen.,6s,1910 30
Tex.Cen.—1st,s.f.,7
s,1909 106
*35
50
TrustCo., receipts......
2d, 7s, 1900...........v U n a 108
106
1st mort., 7s, 1911__
119
St. L. Jack.& Chic.—1st
N.Y. & New Eng.—ist, 7s 102 ...... Tol. Del. & Bur.—Main,6s 25
52
1st, guar. (564), 7s,’94
1st, 6s, 1905..................
1st, Dayt. Div., 6s, 1910 10
2d,(360), 7s, 1898....
N.Y.C.&St.L.-lst,6s,1921 99 b 99*8 1st, Ter’l trust, 6s, 1910 10
90
2d, guar. (188),7s,'98
87
2d, 6s, 1923...................
62
Va. Mid.—M. inc.,6s,1927
Miss.R.Br’ ge—lst,s.f.6s
74 b Wab. St.L. & P.—Gen’l,6s 68
N.Y.W.Sh.& Buff.—Cp.5s 74
70
81*2 Chic. Div.A5s, 1910 ... .
C.B.&G.—Consol. 7s,1903 128 b
N.Y. Susq. & W.—1st, 6s 81
76 b 78
5s, sinking fund, 1901.
Debenture, 6s, 1897__ *62
Hav. Div.—6s, 1910___
86 b
9134 "9 2 "
5s, debentures, 1913 ..
95
Midland of N.J.—1st,6s 94
ToLP.&W.—1st,7s,1917 1045*
Ia. Div.—S. F., 5s, 1919 102 b
'103
N.Y.N.H.&
H
.-i
st,rg.,4s
Iowa
Div.—6s,
1921_
_
88
S. F., 4s, 1919...........
Nevada Cent.—1st, 6s
Ind’poli8 Div.—6s, 1921
Denver Div.—4s, 1922. ........ 85
N. Pac.—G. 1. g., lst,cp.6s 102*4 102 b
Detroit Div.—6s, 1921..
Plain 4s,1921..............
103*4 Cairo Div.—5s, 1931___ 78
Registered, 6s, 1921__
80
C. R. I. & P.—6s, cp.,1917
N.O. Pac.—1st, 6s, g.,1920
Wabash—M., 7s, 1909..
100 V
6s, reg., 1917................. 125
Norf. & W.—G’l, 6s, 1931. 101
Toi. & W .—1st, ext.,7s íoé* 106b
106b
Keo. & Des M.—1st, 5s.
97*4
Ne w R iv’r—1st,6s, 1932
1st, St. L. Div., 7s, ’89 97
98 b
Central of N. J.—1st, ’90 *113 114
116
Ohio & Miss.—Consol, s. f
98 b
2d, ext., 7s, 1893. ...
_ 116
1st consol, assented, ’99 I13 b
Consolidated 7s, 1898 ..
Equip, b’ds, 7s, 1883
113b
__
Conv., assented,7s,1902
2d consolidated 7s, 1911 123
Consol, conv., 7s, 1907 82
85
Adjustment, 7s, 1903... *105 b
1st, Springfield Div., 7s 117
Gt. West.—1st, 7s, ’88 103 104
104
Leh.&W.B.—Con.g’d.as
73
71
98
Ohio
Central—1st,6s,1920
2d,
7s,
1893............
:
90
91
Am.D’k&Imp.—5s,1921
78
1st Ter’l Tr., 6s, 1920..
Q. & T .—1st, 7s, 1890.
C.M.& St.P.—1st, 8s. P.D 129 b 129b
1st Min’IDiv., 6s. 1921
Han. & N aples—1st,7 s
2d, 7 3-10, P. D., 1898.. 119b 123
82
81
Ohio So.—1st, 6s, 1921...
Ill.&So.Ia.—lstE x.,6s
124
125 b
1st, 7s,.r$ g., R. D., 1902
Oreg’n&Cal.—1st,6s,1921
St.L.K.C.&N.—R.e.7s 104 b 105 b
1st, LaC. Div., 7s, 1893. 117 b J.24
89
Or.& Trans’l—6s,’82-1922 88 b
Om. Div.—1st, 7s ... *107
1st, I. & M ..7S, 1897... 119 120
92
90
Oreg. Imp. Co.—1st, 6s.
Clar’da Br.—6s,1919 *80
84
1st, I. & D.,7s, 1899.... *119
Panama—S.f.,sub.6s,1910
St. Chas. Br.—lst,6s 80 b
1st, C. & M ., 7s, 1903... 120
95
Peoria
Dec.&
Ev.—1st,
6s
No.
Missouri—1st,
7s.
119
123
Consol, 7s, 1905........... . 121b
Evans.Div., 1st,68,1920 95
West. Un. Tel.—1900, cp. i'Ü t 114b
2d, 7s, 1 8 84.................. *103
Peoria & Pek. U’n—1st,6s
1900,re g ........................ 113*4 114
1st, 7s, I.&D. Ext.,1908 120 121
Pac. RRs.—Cen. P.—G.,6s 111®8
N.W. Telegraph—7s, 1904
106
,6 . W. Div., 1st, 6s, 1909.
106
San
Joaquin
Branch.
Mut.
Un.T.—S.F.,6s,1911 8434 85
1st, 5s,LaC.&Dav.,l919 ...... 93
Cal. & Oregon—1st, 6s 102
Oregon RR. & N.—1st, 6s 106b 107
86
1st, S.Minn.Div.6s,1910 106 34
1st, 4-5-68,1909..
101
103
State
Aid
bds.,
7s,
’84
INCOME
BONDS.
1st, H. & D .,7 s, 1910.. 115 b 117
69
72
2d, 4-5-6s, 1909 ..
Land grant bonds, 6s. 105 *4 106
(Interest payable if earned.)
110b East’n Div.—6s, 1921... *91
Ch. & Pac. Div.,6s,1910
92
110 Ala.
West. Pac.—Bonds, 6s
Cent.—Inc. 6s, 1918.
1st, Chic.&P.W.,5s,1921 93 b 94 b Indianap.D.&Spr.—1st,7s 103 104
So. Pac. of Cal.—1st, 6s. 1043i 05 b Alleg’y Cent.—Inc., 1912.
Min ’1 Pt. Div., 5s, 1910. 91b 92
2d, 5s, 1911....................
Union Pacific—1st, 6s.. 112b 11234 Atl. & Pac.—Inc., 1910... 27
>C.& L. Sup.Div.,5s,1921
Int.& Gt.No.—1st,6s,gold 109b iio
Land grants, 7s, ’87-9. 109 b
92 b
Central of N. J.—1908.....
W is. & Mm. D., 5s, 1921 90 b 91b
Coupon, 6s, 1909........... 80
81
Sinking funds, 8s, ’93,
Cent. la.—Coup.debtctfs.
c . & N ’w est—S.fd.,7s,’85 *104
Kent’ky Cen.—M.,6s,1911
Registered 8s, 1893... 115 ........ Cli.St.P.&M.—L.g. inc.,6s
Interest bonds, 7s, 1883 *102
L.Sh’re-M.S.&N.I.,s.f.,7s 105b
Collateral Trust, 6s ... *105
Chic. & E. 111.—Inc., 1907
' Consol, bonds, 7s, 1915. 130 134
Cleve. & Tol.—Sink. fd. 104b
do
5s, 1907
DesM.&Ft.D.—lst,inc.,68
E xten s’n bonds, 7s, ’85,
New bonds, 7s, 1886.. *107
Kans. Pac.—lst,6s,’9S 108 108 b Det. Mac. & Marq.—I n c ..
1st, 7s, 1885.................. 104
Cleve. P. & Ash.—7s___
108
1st,
6s,
1896............
107*4
30
E.T.V.&Ga.-Inc.,6s,1931
Coup on, gold, 7 s, 1902.. 123b 124
Buff. & Erie—New bds.
124
108b 108*4 El.C. & No.—2d, inc.,1970
Reg., gold, 7s, 1902...... *122 ......
Kal. & W. Pigeon—1st,
1st consol., 6s, 1919, 99 b 100
G. BayW.& St.P.—2d,inc. 18
Binking fund, 6s, 1929. *110 112 * Det. M. &T.—1st,78,1906
C.Br.U.P.—F.c.,7s,’9E *100
Ind. Bl. & W.—Inc.. 1919
Sinking fund, 5s, 1929. *103 b
Lake Shore—Div. bonds *121b
At.C.&P.—1st,6s,190c 92
Consol., Inc., 6s, 1921..
Sinking f’d,deb. 5s,1933
Consol., coup., ist, 7s. 124
90
At. J.Co. &W.—1st, 6s
Ind’s
Dec.& Spr’d—2dinc
Sinking fund. reg..
Consol., reg., 1st, 7s..
Oreg. Short L.—1st,6s 97
97 b
Trust Co. certificates...
E scan’a& L.S.—1st.
Consol., coup., 2d, 7s. 120 121b
105
Ut. So.—Gen.,7s ,1909
105 b Leh. & Wilkesb. Coal—’88
Des M. & Min’ s—1st, 7s
Consol., reg., 2d, 7s...
Extern, 1st, 7s, 1909 101b
Lake E. & W.—Inc.7s, ’99
125
Iow a Midland—1st, 8s
Long Isl. R.—lst,7s, 1898 118b
Mo. Pac.—1st, cons., 6s. 104
Sand’ky Div.—Inc.,1920
Peninsula—1st,conv. 7s 120
1st consol., 5s, 1931 .... 99
112 Laf.Bl.&Mun.—Inc.7s,’99
3d, 7s, 1906......
a Chicago & Mil.—1st, 7s.
122 Louisy. & N.—Cons.7s,’98 116*2
Pacific
of
Mo.—1st,
6s
*105
b
Mil.
L. S. & W.—Incomes
108
W in.& St. P.—1st,7s,’87
2d ,7s, gold, 1883..........
k
112
2d, 7s, 1891 ...
Mob. & O.—lstprf. deben.
2d, 7s, 1907................. 120 12fi
Cecilian Br’ch—7s, 1907 ao2
St. L.& S.F.—2d,6s,cl.A *97
2d
pref.
debentures......
Mil.&Mad.—1st,6s,1905
N.O.&Mob.—Ist,6sl930
3-6s, class C, 1906 ___ *96
3d pref. debentures......
C.C.C.& Ind’ s—lst,7s,s.f,
E. H. $ N.—1st,6s,1919 98b
3-6s, class B., 1906__
96
97
4th pref. debentures__
121
Consol. 7s, 1914............
General, 6s, 1 9 3 0 ..... 91b 92
1st, 6s, PeirceC.&O..
N.Y.Lake E.&W.—Inc.6s 70
C.St.P.M.&0;—Consol.,6s 109 b 110
Pensac’la Div.—6s, 1920
N.Y.P.&O.—lstinc.ac.,7s
Equipment, 7s, 1895.. ......
O.St.P.&M.-lst,6s,1918
114 b
St. L. Div.—1st, 68,1921
Í02 1Ohio Cent.—Income, 1920 12b
Gen. mort., 6s, 1931..
N. Wis.—1st, 6s, 1930..
2d, 3s, 1980.................
Min’l Div.—Inc. 7s,1921
So. Pac. of Mo.—1 s t.. 102 b 103
St.P.&S.C.—1st,6s,1919 1155* l ï é b
Nashv. & Dec.—1st, 7s.
Tex. & Pac.—1st,6s, 1905 *104 105 \Ohio So.—2dinc., 6s, 1921 *20
Chic.&E.Ill.—1st,s.f.,cur. 95
97
S.&N. Ala.—S.f.,6s,1910
92 1Ogdens.&L.C.—Inc., 1920
Consol., 6s, 1905...... g
90
Chic.St.L.&P.—lst,con5s
Leban’n-Knox—6s,1931 100
Income & Ld. gr., reg
55 b 5534| PeoriaD.&Ev.—Inc., 1920 *44
* 1st, con., 5s, reg., 1932.
Louisv.C.& L.—6s, 1931 105
78b! Evans. Div.—Inc., 1920 *44
lst,RioG.Div.,6s,1930 78
Chic. & Atl.—1st, 68,1920
L. Erie &W.—1st, 6s, 1919
95
Peoria&Pek.Un.—Inc.,6s
Pennsylvania RR.—
Col.& Green.—1st,6s,1916 *95
Sandusky Div.—6s, 1919
98
Pa.
Co’s
guar.
4
b
s.lst
c.
95*8f Roch. & Pitts.—Ino,,1921
2d, 6s, 1926....................
87
Laf. B1.&M.—1st,68,1919 95
96
Registered, 1921........ *........ 95*6 Rome W. & Og.—Inc., 7s.
Col. H. Val.& Tol.—1st, 5s *80
80 b Louisv.N.Alb.&C.—1st,6s 98 b 98 b
So. Car.Ry.—Inc.,6s, 1931
Pitt.C.&St. L.—1st, c.7s
Del. L.&W.—7s, conv.,’92 *112
Manhat.B’chCo.—7s,1909
79
St.L.&I.M.—lst,7s,pr.i.a 40
1st, reg., 7s, 1900.......
Mortgage 7s, 19 0 7 ...... *123b
N.Y.&M.B’h—lst,7s,’97
2d, 6s, int. accum’lative
2d, 7s, 1913.................
Byr.Bing.&N.Y.—lst,7s 123 127
Marietta & Cin.—1st, 7s.
St’gI.&Ry.-Ser.B.,inc.’94
60
137
Pitts.
Ft.
W.
&
Ch.—1st
Morris & Essex.—1st,7s 136 b 137b Metr’p’lit’n El.—1st,1908 100
Plain incomes, 6s, 1896.
2d,
7s,
1912.................
133
b
2d, 7s, 1891.................
115
2d, 6s, 1899 .................
89
Sterling Mt.Ry.—Inc.,’95
3d, 7s, 1912................. 131
Bonds, 7s, 1900......... 112 b 115
Mex. Cen.—1st, 7s, 1911.
St.L.A. & T.H.—Div. bds.
Clev. & Pitts.—Cons. s.f.
50
7s of 1871,1901........ 120*4
Mich. Cent.—Con.7s,1902 123 b
Tol.Del.&B.~Ino.,6s,1910
4th, sink, fd., 6s, 1892.
6b
1st, consol., guar., 7s.
123
Consolidated 5s, 1902.. *102b
St.L.V.&T.H.—lst,g.,7s
Dayton Div.—6s, 1910..
N.Y.Lack. & W ._ 1st, 6s 115
6s, 1909...... ...................
Tex.&St.L.~L.g.,inc.l920
2d,
73,1898.................
Del. & H.—1st, 7s, 1884.. 102 b 103
Coupon, 5s, 1931...........
Gem L. Gr.& Inc.—1931 21
99 b
2d, guar., 7s, 1898---7s, 1891___
1 1 3bl.___
Registered, 5s, 1931___
Tex.&St.L. in Mo.&A.-2d
Pitts. B.&B.—1st,6s,1911
30
l
P1^© Friday—these are latest quotations made this week.
t Coupons on sinoe 1869,
R a ilro a d Bonds.
Del. & H.—Continued—
1st, ext., 7s, 1891..........
118
Coup., 7s, 1894..............
118
Reg., 7s, 1894......
1st, Pa. Div.,cp.,7s,1917 123 124 b
112
Alb. & Susq.—1st, 7s...
2d,7s, 18 85............. - . i05 *4
,
1st,cons.,guar.7s,1906 *I24b
1st cons., 6s, 1906......
Rens. & Sar.—1st, coup. 134b .
1st* reg., 1 9 2 1 .........
Denv.& RioGr.—1st,1900 109 b 110
85
87
1st consol., 7s, 1910 —
Denv.So.P.&Pac.—1st,7 s. 96 100
68
Den.& RioG.W est.-lst,6s 67
88
Det.Mac. & Marq.—1st,6s
Land grant, 3bs, S. A ..
E.T.Va.& G —1st,7s,1900 118
72
72
1st, cons., 5s, 19 30....
93
96
Divisional 5s, 1930......
Ellz.C.& N.—S.f.,deb.c.6s
1st, 6s, 1920............
Eliz. Lex. & Big S.—6s ... , 98
Erie—1st, extended, 7 s ... Ufa
2d, extended, 5s, 1919..
4th, extended, 5s, 1920.| 109
5th, 7s, 1888 ................. I ‘109 b
1st cons., gold, 7s, 1920. 124 124*8
1st cons., fd. coup., 7s..
Reorg., 1st lien, 6s,1908
Long Dock b’ ds, 7s, ’93. *1*15*"
B n ffN .Y .& E .- 1st, 1916 130 132
95
N.Y.L.E.&W.-New2d 6
Buf.&S.W.—M.’6s, 1908
Ev. & T. H.—1st, cons., 6s 95 "97"
Mt. Verm—1st, 6s. 1923
Fl’t &P.M’rq.-M.6s,1920 * i i i
Gal. Har.& S. Ant.—1st,6s 102 b 103 b
2d. 7s, 1905.................... 108 109 b
Mex. & Pac.—1st, 5s. .. 93
2d, 6s, 1931................
85
Gr’n Bay W.&S.P.—lst,6s 83
Gulf Col. & S.Fe—7s, 1909 111
Han. & St. J os.—8s, conv.. 1043s :04 b
Consol. 6s, 1911............ 107
Hous.& T.C.—lst,M.L.,7s 108 108 b
1st, West. Div., 7s........ *105 b
1st, Waco & N., 7s........
111b
2d consol., main line. 8s Í24' 125
2d, Waco & No.,8s,1915
100
General, 6s, 1921 .......
105
Hous.E.&W. Tex.—1st,7s
2d, 6s, 1913....................
Ill.Oent.—Sp.Div.—Cp. 6s 113b
Middle Div.—Reg., 5s..
C.St.L.&N.O.—Ten.l.,7s
1st consol., 7s, 1897 ..
2d, 6s, 1907.................
Gold, 5s, 1951............. 104 b 105
2d Div., 7s, 1894........
Ced. F. & Minm—1st. 7s
iiT
317 s3
THE CHRONICLE.
S EPT EMBER 22, 1883.]
New York City Banks.—The following statement shows the
Condition of the Associated Banks of New York City for the
The latest railroad earnings and the totals from Jan. 1 to week ending" at the commencement o f business on Sept. 15:
latest date are given below.
Average amount of—
RAILROAD EARNINGS.
Banks.
Latest Earnings Reported.
Roads.
Week or Mo
1883.
$
Capital. Loans and
discounts.
Specie.
Net 'tev’ts
Legal
other • Circula
Tenders. than
tion.
U. S.
$
$
757.000 9.140.000 4x5,000
9.913.300 1.480.000
664.000 501.1 00 5.500.000
7.161.000
927,800 660.700 7.073.000 330,300
8.031.900
2,000,000
7.327.000 1.108.000 1,011,000 7.525.000
2,000.000
124.200 3.202.000
1.200.000 4.305.500 615.100
1,792,100
551,300 8.310.200
10,581.500
1,100
3.000.
000
153.200 3.187.000 251,600
654.000
3.452.000
1.000. 000
576.000 8.253.000
7.722.400 2.468.000
1,000,000
82.300 2.112.200
453.100
3.158.500
788,700 ■
1,000,000
60.900 I, 875,400
370.500
600,000 1.701.500
425.600 15,435,900
800.000 13,893,800 4,835,309
2b7_000 410.400 2.908.000 381,700
1.000.000 3.417.700
156.600 2.755.600
774,200
613.600
1,000,000 4.761.500
69,800 1.635.900 244,900
395.500
300.000 1,801,800
83,000 1.110.000
45,000
213.000
200.000 1.022.000
135.700
994,700
2,600
18,500
1 057,690
200,000
320.000 2.223.300 531,400
273.600
600,000 8.011.300
.
16,400 i
968.600
111.000
150.500
300.000 1.024.000
198.400 3.684.500
351.500
800.000 4.078.700
1.912.000 1,600,000 II, 240,000
13.531,000
5.000.
000
11.653,800 908,500
5.U00.000 16,729,400 2.256.500 1.700.000
317,8!:
892.000
4.264.800
783.000
5.620.500
.1, 000,000
701.000
610,2i
7.073.700
1.000.000 8.711.900 1.428.500
199,800 2 321,200
422.700 2.271.300 249.200
180,000
193.400 3.140.700
520.100
1.500.000 4,f 44,700
45,000
372.000 3.975.500
450.000 3.927.600 375.300
5,400
118,100 1,82?,300
184.600
1.583.500
200.000
380.700 2.985.200
233.300
700.000 3.086.600
90,000
1, 000,000 9.098.400 1.578.000 1,123,800 10.138.600
496.500 3.069.900 380,000
583.900
500.000 9»899,200
459.000 8.589.200 2,132,100
12000
, 101,200 1.851.000
3.000.
264,300
233.400 2.460.600
257.000
600.000 2.464.100
159.900 2.455.800
72.000
2,409,80
500.000
118.300 2.482.000 425,500
489.200
500.000 2.919.900
57.600 1.844.500
500.00C 2,227,000, 242.300
239.000 3.042.000 450.000
497.000
500.000 2.582.000
4,6£f0 .
195.ÖÖ0 3.446.600
443.100
4.623.000
1.000 .000
450.000
287,100 6,812,100
1.000,000 5,753,2001 1.593.000
300.500 1.966.000
115,700
300.00C 2.041.100
270,000
304.000 3,984,100
400.000 3,427,000] 727.000
580.500 21.952.900 1,321.100
1.500.000 19,985,900; 5.005.900
45,000
22.005.300
2.000.000 17,788,90', 4,334,300, 1,265.600
80.600 1.750.500
329.100
Wad St.'Nat"'.'. '.'] 500.000 1.758.900
235.000 1.583.000
17.000
North River. ...I 240.000 1.579.000
220,700
918.600
97,700
140.100
250,800 3.139.600
10,582,696 Bast R iver.......
360.000
3.311.900 1,234,500 17.627.900
215,510 Fourth Nat’na!., 3.200.000 16,781,600
1.833.000 1.127.000 8.643.000 - 297,000
Central Nat...... 2,000,000 7.773.000
45,000
4.247.000
370.000
749.000
3.542.000
300.00C
1,512,328 Second Nation’! 750.000 5.709.300 751.100 337.500 5.231.700 600.000
National.
294,900
15,056,000
e45,100
3,188,400
169,214 Ninth
14J5Û6.000
500.000
National..
474.300 5.200.200
1,258,100
4,784,411 First
Third National. 1,000,000 4.776.500
278.000
180.000 1.091.000
114.900
300.000 1.393.600
1,334,906 N.Y. Nat. Exch.
225.000
1.807.500
278.900
1.943.400
2.128,124 Bowery Nat’na!.. 250.000 1.715.000 420.000 184.300
180.000
130.000 2.155.000
200.000
N.
York
County.
1,704,896
2.213.600
71,000
370.500
2.498.000
75
'.000
Qerm’nAm’c’n .
45,000
5,566,5001
572
200
7x0,801
4.121.600
3'iO.oOO
Nationa .
95,300 2,146,200|
557.200
603,127 Chase
1.976.300
100.000
Fifth Avenue. .
277.000 2.130.500
66 000
1.851.100
200,000
German Exch. .
198,000' 2,177.3001
104.900
20U.OOO 1.817.100
255,967 Germania..........
446,800 62,200 5.838.700
500.000 5,522,200 1.289.000
155,419 U. S. Nat. ........
45.000
141.900 1,941,400
355.900
1,653,890
300.00U
Lincoln
Nat......
178,600
1,844.907
614,000
95,200
60,-*60
730,300
200.000
208,600 Garfield N at....
58,879,300l24.337,000l317,911,500] 15.533.400
8,415,294
Total........... 61,162,700 328,792,500
$
New York........
Manhattan CoMerchants......
Mechanics’ ......
Onion............;
America..........
Phoenix..........
City.................
Tradesmen’s...
Fulton......... . •
Chemical.........
Merchants’ Ex.
Gallatin Nat...
Butchers’* Dr.
Mechanics’ & Ti
Greenwich..
Leather Man’f ’s
Seventh W ard..
State of N. Y ...
American Excb.
Commerce........
Broadway.......
Mercantile........
Pacific...............
Republic......
Chatham..........
People’s...... .
North America.
Hanover..........
Irving................
Metropolitan ...
Citizens’ . . . .......
Nassau.......
Market..............
St. Nicholas......
Shoe & Leather,
Corn Exchange.
Continental.....
Oriental............
Marine............ J
Importers’ & Tr.
2, 000,000
2.050.000
90,219
Ala.Gt.Southern A ugu st---A tch.Ton.& S.Fe J u l y . •- 1,167,987
62,392
Bur.CedlR.&No. Istw kS ept
Canad’ n P acific 2d Wk Sept 117.000
171.800
Central o f G a ... J u l y - ...- . .
120,333
Central Io w a .... A ugust----Central Pacific. A ugu st— 2,282,000
382,114
Cbesap. & O hio. A ugust----Chicago & A lton 2d wk Sept 229,652
Chic. Bur. & Q .. J u ly ........... 1,824,705
36,403
Chic. & East. 111. 2d w k Sept
61,277
Ohic.&Gr.Trunk W kSept. 8
515.000
Chic. Mil. & St. P. 2 d w k Sept
Chic. & Northw. 2d wk Sept 534.800
Ch.St.P.Miu.&O. 2 d w k Sept 120.000
50,892
Chic. & W .Micli. 4th wkAug
242,694
Cin.Ind.St.L.&C. August—
241,133
Cincinnati South August —
38,992
Cin. W ash.* Balt 3d w k Aug
14,922
Ciev. A k ro n * Còl 1st wkSept
329,156
C lev.C ol.C .* ind June..........
32,444
Connotton V a l.. J u l y . ......
22,648
Danbury & N or. J u ly ...........
Deny. & R io G r. 2 d w k Sept 139.800
22,400
Denv.& R.Gr.W. 2 d w k Sept
11,319
Des Mo.& Ft. D. Istw kS ept
31,981
Det. Lan. * No.. Istw k S ept
22.223
Dub. & S ioux C. 1st wkSept
Eastern^ . . . . . . . . 3 wks Aug 304,301
E.Tenn.Va.&Ga. 2 wks Sept 170,940
71.304
Eliz. Lex. & B.S. A u g u st...
16,568
E vansv. & T. Hi 2d wk Sept
48,175
Flint & P. Marq. 2d wk Sept
10,138
Flor. Cent. & W. Istw k S ept
10,962
Flor. Tr. & Pen. 4thw kA ug
7,300
Ft.W. & Denver. 2d wk Sept
Grand T runk.... W kSept. 1 360,001 338,539 11,446,705
256,916
8,326
7,771
Gr.BayW.&St.P. Istw k S ep t
33,535
45,624
GulfCol&San.Fe Istw k S ep t
1,7-41.867
57,664
65,286
H annibal*S t.Jo 2 d w k Sept
199,935
30,324 ii 25,543
Hous.E.&W.Tex A ugust----Illinois Cen. (111.) 2d w k Sept 184,200 170,370 4,541,812
49,387 1,346,738
48,100
Do
(Iowa) 2d w k Sept
70,972 2,591.160
85,200
D o So. Di v. 2d w k Sept
70,295 2,013,724
88,881
Ind.B looni.* W. Istw k S ept
33,495
34,915
K.C.Ft. S. & Gulf 3d wk Aug
852,674
157,723 137,440
K . C. L aw. & So. J u ly ..........
36,912
34,756
L. Erie & West’n 2d wk Sept
314,110
34,610
36,626
L. R. «fcFt.Smith A u g u s t....
229,3"
21,641
25,013
L .R k.M .R iv.*T . IA ugust—
72,822 1,999,659
72.665
L ong Island___|2dwkSept
301,300
34,592
50,980
La. & M o.R iver, tJ u n e -----Louisv.&Nashv. 2 d w k Sept 299,900 250,895 9,332,983
854,046
602,785
40,232
32,557
M ar.H ou gli.*O . Istw kS ept
The deviations from returns of previous week are as follows:
641.506
755,597
80,565
102,478
Memp. & Chari. A u g u st...
I Net deposits.. ........... .Inc. $3,019,100
1,074.185
43,539
Loans and discounts......Ini. $1,202,500
M exican C ent.. 4 th w k A u
350.700 I Circulation.................... Dec.
7,300,
181,799
5,897
D o No.Div Istw kS ept
bee.
315,000,
495,125
Legaften
i'ers................
17,336
M exican N at’l .. 4th wkAu_
586,429
634,335
20,455
20,985
The following are tbe totals for three weeks :
M il.L .S h .* West 2 d w k Sept
678.814
785,749
142.293 128.875
M in n .* S t. Louis J une . . . . .
Specie. L. Tenders. Deposits. Circulation. A j .Clear._
5,253,236
Loans.
Missouri Pacific. 2d w k Sept 241,786 187,614 6,297,971
577.923
1883.
* ■ I 59.931.200 25 207.800 315.739.900 15.636.300 64a.021.o43
990,168
21,609
39,212
Central B i’ck . 2 d w k Sept
1......325.880.600
24 682 000 314,89 2,400 15.540.700 739 732.907
79,518 2.475.605 2.166,583 Sept.
73,307
Int. & G t. N o .. 2d w kS ept
4 8....327.5x0,800 58,528,400 24337,000
317,911.500 15,533,400 732,310.0i “ 15....328,792,500 58,879,300
Mo. Kan. & T.. 2d wk Sept 190,47" 142.786 4,957,590 4,040,981
4,747,085
5.162,948
170,113
St.L.Ir.M t.&S. 2 d w k Sept 181,0451
•Following
are
the
totals of the Boston banks:
Boston Banks.Tex. & Pacific. 2d w k Sept 125,690 106,96 > 4,155,216 3,179,110
Specie. L. Tenders. Deposits.* Circulation. Ago.Clear.
W hole System 2 d w k Sept 851,517 703,6o5 24,039,499 19,964,919
Loans.
1,151,596
$
*
*■
$
M o b ile * O hio.. August----- 157.950 137,475 1.258.605 1,357,605
1883.
27.803.300 40,902.452
4,213.300 84.329.100
216.658 189.787 1,514,115
Sept. 3.. 143.730.900 5.173,100
Nash.Ch.&St.L. August—
4,541,200 87.035.100 27,890,200 60,594,717
7,543,929
“ 10.. 143,976,000 5,180,600
88,323,900
27,765.600
58.531,933
NT.Y.L.E.&West. M ay....... . 2,055,988 1,631,798 8,100,916]
H 17.. 143.998.900 4,916,800 4,559,500
377.223 346,490 2,315,109| 2,177,413
-N. Y.& N . E ngl’ti A ugust---554,684
376,630
' Including the item ' due to other banks.'
^^
68,022
89,189
N. Y . Susq. & W. Ju ly ......
47,047
52,325
N orfolk & West. Istw kS ept
Philadelphia B anks.-T he totals of the Philadelphia banks
58,204
90,169
Shenandoah V August;. . .
474,524 484,534 3,419,138 3,072,245 are as follows:
Northern C ent.. J u ly — ...
4,436,599
Loans. Lawf ul Money. Deposits. Circulation. Agg. Clear.
Northern Pacific 2d wk Sept 228,650 178,000 5,793,704
60,400
1883.
9,273.851
51.i60.f57
Ogdensb.&L.Ch. J u ly ...........| 61,900
68,019.173
77.7^)6,113 17.452,503
655,449
Sept.
3................
708,111
27,877
9.297.071
53.051,135
24,919
67,187.295
Ohio Central___ Istw kSept
77.357.781- 17.30S.639
241,731
10............. 78,107,644
9,313,513- 50,251.984
273,106
10.762
68,191.317
10,939
Ohio Southern.. Istw k S ep t
17,610,803
17
436,212
79,573
Oregon * Cal__J u n e ... . . .
Unlisted S e c u r itie s .— Following are quoted at 33 New Street:
403,796 260,115 2,221,415 1,778,677
Oregon Imp. Co. J u ly ..........
496.950 493,932 3,286,001 3,220,231
Bid. Asked.
Oregon R.&N.Co A ugust___
26.799,997
North Pac. div. bonds. 89*s
90
Pennsylvania .. Ju ly........... 4,130.950 4,149,150 28,483,529
95
530,392 Am. R ailw ’y Im p.Co—
472,266
No.Riv.Const.—lOOp.c So
14,371
18,087
Peo. Dec. & Eve. Istw k S ep t
E
x
bonds
and
stock
..........
3
2,102,370
N.
J.
&
N
.Y
....
.
.
.
.
.
.
.
1*2
329,032 377,206 2,272,270
Philadelp.&Erie July
Atl. & P ac.—6s, 1 s t .... . . . .
42
13,944,954
11,557,955
Ohio
C.—R
iv.
Div.
1st.
40
2,979,094
2,026,459
Phila. & Read.* July
----A
ccum
’
d
I’
d
g
r’t
bds
7*a
Incom es................5%
1,439,747 1,422,331 8,611,55l| 7,694,724 Am. Safe Deposit per
Do C. * Iron July
Oregon Sh. Line deliv
t51,600 151,4001 >,469,082 2,325,915
R ichm .& D auv., 2d w kS ep t
petual
deb’ure
bds.
100
439,946
518,063
ered when issued...........
U0.126
18,958
Ch’ ICol.&Aug. 2 d w k Sept
\
431,289 Bost.H.& E.—New st’k
468,686
Subs. 90 p. c . . . . , .............
19,276
110,030
-Columb. & Gr. 2d w k Sept
*2
O ld .....-..,....,-...
**
956,318
t23,172 1,103,492
Subs, ex-bd. & s tk ...
<
t-24,157
Va. M idland.. 2d w kS ept
Buff.
N.
Y.
&
P
hila.............
18
151,661
234.457
1
2,352
Pensac. & A tl..............
t 6,853
W est No. Car. 2d w k Sept
P ref.............. . ..................
71
7.164
1st
m
ort
.
.
.
.
.........
*9
21,890
R och. & Pittsb’g 2d w k Sept
Chic
&
Atl.—Stk........
.
......
Pitts. & W estern......... 14 r 18
141,956 148,287
Rom e Wat. & Og J u ly ..........
do beneficiary stk ............
83.361
92,260
18,415
22,742
1st m o r t ................ - ---•
St.Johns&L.Ch. M ay...........
1st m ort..................- ..........
938,965
910,238
30,243
Rich.&D. Ext. subs.70# ----27,710
St. L .A lt. & T.H. Istw kS ept
570,518 Contin’t’lC ons.-S 5p.c. ----536,277
Roch.&Pitts. cons.,1st . . . .
18,316
16,770
D o (brchs.) Istw kS ept
Chic.
&Can. South..................
236.718
247,743
8,889
10,674
Rutland R R ..........................
82
St. Louis & Cairo 4th wk AuL
Den.&
R
.G
.R
’
y—Cons.........
2,376,205
2,515,367
80,646
84,466
Bt.L.&San Fran. 2 d w k Sept
12*2
679,474 Denver Rio. G. & W est 1 0 ‘s
865,750
Sei.,R.&D.st’ k,st’m p’d
*4
28,851
31,194
St. Paul & D u l.. 2d w k Sept
67*2
1st m ort. .................. 6 4 78
5,670,775
d o 1st m tg.bds..’8 a -4
St. P. Minn.&M. 2d wk Sept 167,700 189,781 5,479,597(
Denver
&
N.
Orleans..........
411,149
437,462;
do
do
do
*82 *4
So. P ac.C al.N .D M ay........... 110,007 104,864
*a
1,741,659! 1,692,487 Des M o’s & Ft. D., p ref 7*2 225
do
2d
do
’ 80 *4
Do So. Div.J M ay........... 382,875 354,156 1,047,250
1,165,922 Edison E lee.,L igh t.. . . 200
do
do
do
82 *4
D o A rizona!- M ay........... 244,802 256,581
Ga. Pac. R ’y., 1st m .. 80
319,381
328,197
95,351
do
In
c
o
m
e
s
............
*4
77,785
D o N. M exJ. M ay...........
15.
285,961 Gal. Har. & S. A n t— . . . .
289,944
45,462
St. Jo. & W est............ . 8
98
Scioto V a lle y ... Ju ly ...........
646,783 Georgia Central........... 96*2
708,309
68,461
South Carolina. J u ly ...........
75,044
110*2 Tex.&Col.Im p.—6 0 p . e .........
guar.
1
s
t
....................
108*2
72,000
80,975
ex-bd.................................
Tol.AnAr.&GJP. June
I. B. & W. inc. b d s----- 39
Tol. .Cin. & St. L. 1st wkSept
32,500
12*4 Tex. & St. L ------ ----- -• — Keely M o to r ...........9*2
Subs___.................- .......... .
Union P a cific.. .110 dysSept 844,000 947,000 19,476,766 19,702,278
774 513 L. & N.col.trust bds ’ 82 78*2 «12*2 ! ex-bon ds..............
574,480
Utah Central ... J u n e .........
79,829 131.237
269,109 Lehigh & Wilkesb. Co. 11*2
........ bonds in T exas. . . . . . ----27,571
294,490
Vicksb’rg& Mer. August___
32,204
M exican Bonds—3 p .c.........
I gra’ t&ine.bds in T ex . . . .
Wab.St.L.& P . .. 2d w k Sept 411,530 385.144 11,224.119 11,126,074
579,656 M exican. Nat..............- ---3 8 " Texas Pac. UK', scrip . . . .
656,002
West J e r s e y ___ J u ly ............
178,147 164,888
1st m ort......... ............ 3641 100
130
.......I
941,850
U. S. ELec. Light(x-d.) l l o
W isconsin Cent. IIstw kS ept!
24.265
Mich.&O.—Subs.85p.o . . . .
17*2 Vieksb’g & Meridian... 3%
M.
U.St’kT rust C erts.. 16
P ref.................. .
---•
* Since June 1st in 1883 includes earnings of Cent. RR. of New Jersey, N. Y. W.Sh.&Buff.—Stk
34
1st m o r t ..................... » » 'a
del.wh.iss.on old sub ----t Freight earnings.
i Included in Central Pacific earnings above.
. - ’ Incom es ..................... 21
5s ................... ............... .
¿Includes Maine Cent, dividand of $5 4,345 in 1883 and $36,230 in 1882.
- THE CHRONICLE.
318
[Y o u x x x v n .
| pole, Benjamin P. Cheney, J. C. Bullitt and Henry E. John
ston. The total number of votes east was 645,963, o f which
'AND
,
301,145 were preferred stock and 345,818 common stock. ViceR A I L R O A D
IJNT T E L L I O E I S C E .
President Oakes stated that the cost o f the Northern-Pacific
road was nearly $30,000 per mile. The first mortgage bonds
The I nvestors’ Supplement contains a complete exhibit o f the
were issued at the rate of $25,000 per mile, restricted under
fou n ded Debt o f /States and Cities and o f the Stocks and Bonds
the terms o f reorganization. These bonds were sold at from
•of R ailroads and other Companies. I t is pu blish ed on the
90 to 92^, and two years’ interest was set aside so that the net
la st Saturday o f every other month—viz., February, A p ril,
result to the company was about 80. Instead of having
-June, A ugust, October and December, and is furnished with
$25,000 per mile available for construction, they had $20,000
o u t extra charge to all regular subscribers o f the Chronicle.
per mile, which caused a deficit o f seven or eight millions in
-Single copies are sold at% 2per copy.
completing the road.
^uwcstiwjewts
T he N orthern P acific R eport.—The annual report of this
^company for the year ending J une 30 has just been issued, and
■Is read with unusual interest, owing to the recent completion
o f the main track on this new trans-continental route, and also
ow ing to thé flurry in the stock market. The report is
titiquestionably a full, frank and elaborate exposition of the
-affairs of the company, and while it dwells at much length on
its fine prospects hereafter, it does not attempt to slur over or
conceal the less favorable facts of the difficulties encountered
In constructing the tunnels, bridges, &§., and the consequent
necessity of incurring a moderate floating debt.
. One point in the report requires elucidation, and that is, in
^regard to the earnings in 1882-83 from construction business,
which amounted to $1,523,112. It is not generally understood
, that this construction traffic is charged only at cost, and hence
th e above amount carried into gross earnings should also be
\ «deducted in full from expenses, leaving the real percentage of
operating expenses to gross earnings only 60-23 per cent instead
j ) f 67‘98 per cent as stated in the report. This explanation is
furnished by the officers of the company, and it is a point so
favorable to the road that it might well have been explained in
the report. Revised by the above deductions, and thus exclud
i n g the construction traffic (now practically ended), the figures
f o r 1882-83 would stand as follows :
Actual gross earnings1...................................................... ........... $6,332.347
Actual operating expenses and rentals ........................ .
3,813^818
. ' Actual net earnings______ v ......................... ............ ..$2,518,523
1 This explanation seems quite essential, for so good an
authority as the New York Tribune has put a different inter
pretation upon the figures in stating that—“ of the gross
-earnings for the year ended June 30, 1883, $1,523,112 was
derived from the construction of the road, which reduces the
actual gross commercial earnings to $6,332,347, and the net
•commercial earnings, supposing that construction account was
charged no higher rates than commercial freight, to $2,026,332,
or $1,341 per mile.”
Including the floating debt and dividend certificates, the
■actual obligations on which the company should pay interest
appear to be about $57,000,000, which at 6 per cent would call
.for $3,^20,000 per year.
The facts concerning the preferred stock of the Northern
Pacific.have not been clearly apprehended by every one, for in
two years, since June 30,1881, there has been an increase in the
amount of this stock actually outstanding of $2,288,008. The
«Range occurs in this way: At the close o f the fiscal year, 1881
the preferred stock was $42,312,588, of which the company held
in its own treasury $2,851,455, leaving $39,461,455 actually out
standing, In the two years from July 1,1881, to July 1,1883,
:the company has marketed preferred stoek (probably about all
It held, receiving therefor the sum of $1,914,755. On the other
Rand the cancellations of preferred stock from proceeds of
land sales have been quite moderate, amounting to $403,456 of
-«took canceled in 1881-2 and $159,669 in 1882-83. It does not
•appear in the report why the cancellations are so small as in
three years past. The land sales on the Minnesota and Dakota
-divisions, where the preferred stock is received for lands, have
¡been as follows: ,
.......
f i,o82
# ? a«yes-....................
........... " I2 )5
“ ......................... For
U $1,805,368
«04 lias
3.882-3....... ................ 417,388 “ .................... “
1,700',5I7
I t is only the lands east of the Missouri River that are
applicable to the preferred stock, and on these, if there should
'tie any default on the first mortgage bonds, the lien, of that
mortgage would then (by its terms) have precedence. The
total quantity of these lands yet »unsold is about 4,300,000
acres.
ig a l-A ...
• At the annual meeting on Thursday the following directors
Yvere elected: Frederick Billings, Ashbel H. Barney, John W.
iSliis, Rosewell (J. Rolston, Robert Harris, T. F. Oakes, J.
¡Pierpont Morgan, August Belmont, Henry Villard, J, L. Stack-
ANNUAL REPORTS.
Northern Pacific Railroad.
(For the yea r ending June 30,1883.)
From the extended annual report of Mr. Henry Villard, Presi
dent, the following is condensed. Mr. Villard says : “ It is
the privilege of your board to begin * * with the announce
ment of the completion of a continuous line from Lake Superior
to the Pacific Ocean.” ' * * * “ The work progressed more
rapidly in its last stages than expected, so that the two- ends
of track actually met on August 22d ; but the formal opening
did not take place until September 8th.”
*
*
*
“
finances. ,
“ At the close of the fiscal year ending June 30, 1882, the
syndicate had taken $20,000,000 of the general mortgage
bonds, having further options for $10,000,000 in 1882, and $10,000,000 in 1883, which,- when taken, would complete the
contract. The $10,000,000 for 1882 were provided for by
acceptance o f new road during that year, and were promptly
taken by the Syndicate. In the spring of 1883 the Syndi
cate had disposed of $31,000,000, and offered for sale the re
maining $9,000,000, which were all subscribed for, and on
June 30 the entire option for 1883 was declared. It was not in
the power of the company, however, at that time, to deliver all
the bonds called for, in consequence of a sufficient mileage of
new road not having been accepted; delivery, therefore, was
made only of such an amount of bonds as could properly be
issued under the provisions of the mortgage, and the money for
the remaining bonds has been credited to “ advances on general
mortgage bonds,” Of the proceeds of these bonds, $4,593,946
were paid June 30,1883, to the Oregon & Transcontinental Com
pany on account of the indebtedness to it for loans and ad
vances.”
“ The excess of expenditures on account of construction and
equipment ($7,986,507) over the cash receipts from the proceeds
of the $40,000,000 general mortgage bonds, sales of preferred
stock, and other sources of income, arises from several causes.
In the first place, the cost of construction exceeded the engineers’
estimates. The work was to be done in remote regions, the
natural conditions of which, such as climate, seasons, character
of soil and streams, and geological formation, were so many
unknown factors entering into the construction problem.”
*
*
*
“ The construction account embraces the outlay
required not only for building the road itself in a first-class
manner, but also such extraordinary works as the three great
bridges over the Missouri, the Snake and the Willamette rivers,
(the first of which is completed, and the last two are being con
structed), the extensive central shops and other buildings at
BraTnerd, and the several division shops. Then, again, the in
crease of traffic on the main line, together with the construction
of branch lines and the traffic derived therefrom, has required
an increase in the necessary motive power and rolling stock far
exceeding the original estimates.
I The issue of bonds to provide for the construction and equip
ment o f the road is, by the terms of the mortgage, restricted to
$25,000 of bonds per mile of road actually completed, and ac
cepted by the President of the United States.” * * “ But the ;
means it proposed and provided for, wherewith to complete and
equip the road are, confessedly, inadequate, and this for rea
sons which, as before shown, were then impossible to be fore
seen.
“ To avoid, therefore, the embarrassments of large floating
liabilities, arising from causes such as are above mentioned, an
arrangement was entered into with the Oregon & Transcon
tinental Company, under which that company was to make
advances of the^ money needed, and to accept therefore such
negotiable security as this company is competent to give, the
terms and form whereof are to be decided upon hereafter.
“ PREFERRED STOCK.
“ The volume of the preferred stock is being continually and
steadily reduced through‘the sales of lands in Minnesota and
Dakota, east of the Missouri River. At the end of the fiscal
year (June 30th, 1883) there had been canceled and extinguished
$9,250,536 10 o f the original $51,000,000, leaving then existing
$41,749,463 90 preferred stock, including fractional scrip. In
view of the necessity of using all the available resources of
the company for construction and equipment purposes, your
board deemed it unwise to declare cash dividends before the
main line would be completed, so as to furnish a through line
for trans-continental traffic. That great result being now"accom
plished, the time appeals to be at hand, for a stricter, recognition
and satisfaction of the claims o f the preferred stock under the
plan of reorganization. And, with the certainty of increasing
earnings, keeping pace with the growth of the tributary
THE CHRONICLE.
Septem ber 23, 1883. ]
country, and the prospect of low operating expenses, by
reason of the discovery and development of the coal fields of
Central Montana and ‘Western Washington Territories, your
board feel warranted in expressing their belief that the pay
ment of regular dividends on the preferred stock may be
reasonably expected to begin at an early date.”
*
*
*
“ PASSENGER AND FREIGHT BUSINESS.
“ On the eastern divisions the total through passenger move
ment increased from 19,466 in 1881-2 to 32,489 in 1882-3, a gain
of 66 90 per cent. The local passenger movement increased
from 278,214 in 1881-2 to 418,498 in 1882-3, a gain of 87'52 per
cent. The number of passengers carried eastward was 198,475,
and westward, 252,512, the difference representing largely,
though not entirely, the immigration into Northern Minnesota,
North Dakota and Montana. The increase in the passenger
earnings of these divisions was 42*6 per cent. The increase of
east-bound freight tonnage on the eastern divisions was 51’46
per cent, and of west-bound tonnage, 9'79 per cent. The total
increase being 20 60 per cent. The increase o f freight earnings
on these divisions was $869,393 92. On the western divisions
both passenger and freight business show a steady and im
portant growth. On the Pacific Division, including the Cascade
Branch, the gross earnings rose from $272,676 in 1881-2 to
$420,871 in 1882-3, a gain of $148,194, or 35*2 per cent. At the
same time there was a decrease in operating expenses of
$23,645, or 8 per cent.” * * “ The eastward-cattle movement
over our line, which was only 9,200 head in 1881, increased to
30,000r in 1882.” * * *
“ EXPRESS AND TELEGRAPH.
“ The gross earnings of the express business carried on by the
company were $229,259 and the expenses $80,475, leaving net
earnings of $148,784. The increase o f net earnings over the pre
vious year was $45,848, or 44}^ per cent. In the expenditures
are included the whole outlay for the equipment of horses,
wagons, sleighs and office fixtures, and furniture for the offices
in St. Paul and Minneapolis, amounting to $17,014. During
the year the service was extended over 560 additional miles,
and thirty-three new offices were added.”
*
*
*
“ The telegraph system has been greatly extended. Since the
last annual report 293 miles of new poles have been erected on
the main line. We have now 1,191 miles of poles on the main
line, not including 98J^ used jointly with other companies and
308/6 miles on branch lines ; 974%- miles of wire have been
strung under contract with the Western Union Company—199%
miles of exclusive Western Union wires and 782 of exclusive
railroad wires. There are on the lines 154 offices and 194 oper
ators.
The cash receipts from commercial business have b e e n ....... ...$72,594
Last year.......... ................. ............1.. . . . . . . . . . . .............. ________ 45,695
Increase.......................................... ............................ ,ii. „ .......$26,899
The increase was more than the total business of 1881.
*
*
“ EQUIPMENT.
“ The large increase in the mileage of road operated, resulting
from the extension of our main line and branches during the
year, has required a corresponding increase in equipment to
meet the demands for local traffic. A prudent foresight also
suggested that adequate provision should be made in advance
fo r the new traffic to follow the connection of our tracks and
the opening of through business between the Pacific Coast and
the East. In the following statement is shown the increase in
equipment for the year ending June 30, 1883, and that under
■contract for delivery:
„„...
Increase fo r year
Equipment—
end. June SO.
Locom otives.......... ............... ..............................' 131
Passenger ca rs .............................. .......... ........... 71
Freight c a r s ......... ............ ............ ................2,395
.
Under |
contract..
89
107
2,289
“ IMPROVEMENTS AND BETTERMENTS.
319
The Great Tunnels ^—The total length of the Bozeman Tun
nel is 3,612 feet. Of this distance there had been excavated
June 30, 1883, from the east end 1,266 feet] and from the west
end 641 feet, making a total of 1,907 feet, and leaving 1,765
feet yet to be opened at that date. It is expected that thi3
tunnel will be completed by January 1, 1884. The Iron Ridge
Tunnel, thirteen miles west of Helena, having a total length of
533 feet, was completed in April last. Up to the first of Feb
ruary it was expected that the Mullan Tunnel would be com
pleted in time to lay the track through it in June ; but the
work was delayed by the falling of masses of rock, and the
necessity for protecting the sides and roof with heavy timbers,
so that no progress was made at the eastern end for two
months. The length of the tunnel is 3,850 feet. On the 30th
of June, 1883, there had been completed at the east end 2,077
feet, and at the west end 1,465 feet of heading and 888 feet of
bottom, making the total of heading 3,542 feet and of bottom
2,965 feet, and leaving to be completed 308 feet o f heading and
885 feet o f bottom. The headings met. on the seventeenth of
August. If no new and unforeseen difficulties arise, this tunnel
will be completed in October.” * * *
“ Portland D ivision.—This division extends from thé west
bank of the Willamette River in Pdrtland, to the south bank o f
the Columbia River at Coffin Rock, opposite a point two miles
below Kalama, a distance of forty-two miles.” * * “ The grad
ing and bridging on this division are well advanced, and it is
expected that the track will be laid early in the autumn, andthe ferryboat be in use in the spring of 1884.” - * * *
“ TRIBUTARY OR BRANCH ROADS.
“ Little Falls efr Dakota R ailroad.—At the beginningof the
fiscal year fifty-five mile.s of track had been laid. During the
year the line to Morris, eighty-seven and three-quarter miles,
was completed and put in operation.
“ Northern Pacific F ergus & B lack H ills R ailroad.—
Track-laying was resumed at Fergus Falls in August, 1882, and
has now reached a point forty miles west of Breckenridge. Total
amount of track laid during the fiscal year, sixty-five miles.
About two and one-half miles of additional grading is ready
for the rails, and the track will soon be put down, thus reach
ing the terminus at Milnor, 117 miles from Wadena.
“ Fargo & Southwestern Railroad.—This branch starts at
Fargo and runs in a southwesterly direction to La Moure, on.
the James River, a distance of eighty-seven and one-half miles.
Track-laying began July, 1882, and was completed to Lisbon,
fifty-five miles, in December. During the present season the
track reached the terminus, La Moure.
“ Jamestown & Northern R ailroad.—This branch leaves the
main line one mile west o f Jamestown, and runs in a northerly
direction ninety-five miles to the west end o f Devil’s Lake.
Considerable grading was done during the fiscal year 1881-82.
Track-laying began in August last, and had progressed as far
as Carrington, forty-two miles, at the beginning of the winter.
The grading is nearly completed to the lake, and the track will
soon be laid. A survey has been made for an extension of the
line to the Dominion Boundary.” * * *
“ N ational P a rk B ranch.—This line was located in October
last, leaving the main line at Livingston and running up the
Yellowstone River to the northern boundary o f the National
Park, a distance of fifty-one miles. The work was commenced
last spring, and was completed in August.
“ Palouse B ranch.—Track was laid, prior to the end o f the
fiscal year, from Palouse Junction eastward a distance o f thirty-two miles. Track-laying has since progressed a further
distance of sixty miles. The road will soon be opened for
traffic as far as Oolfax, and will be completed in 1884.
“ Seattle B ranch.—The track has been laid to a point about
twenty-fiv,e miles from Tacoma and fifteen from the junction
with the Cascade Branch. Grading is well advanced on the
remainder of the line, and it is expected that the track wiil all
be down before the winter season begins.
“ The total expenditure under this head during the fiscal year
“ AMOUNT OF TRACK LAID.
was $2,013,966, A large item in this account is for replacing
“ At the beginning of the fiscal year, July 1st, 1882, the ends
with steel the iron rails on the older divisions of the road. The
mileage of track relaid with steel during the year was 206% of the track on the main line were 564 miles apart. They were
advanced during the year—
miles.” * * *
From the E a s t....................................................................... 2931a miles.
'• “ FUEL.
~
•
“ Gratifying results have been secured in the use of the coal and
lignites found on and near the line of our road, and the prob
lem of securing cheap fuel for locomotive use may be regarded
as solved. In the last annual report it was stated that ‘ 'coal’ '
o f excellent quality has been discovered in the Bull Mountains,
about thirty miles north of Billings, Montana, and of easy ac
cess to the projected line from Billings to Fort Benton.”
Actual tests with this coal in locomotives show that four tons
are the equivalent of three tons of the best Pittsburg coal
burned under like conditions. The coal veins at Bull Mountain
are fourteen to twenty-four feet thick.” *
*
* “ It is the
opinion of the Superintendent that the coal can be put upon
•cars at$l per ton and delivered on the main line at a cost not
exceeding $1 50 per ton.” * * *
From the W e s t . . . . . . . . . . . . . . . ...................... ...........
Total ....................... .................. . I ......... .......................
166*8
“
450
« ■/
Leaving June 30th, 1883,114 miles to be completed. This has
since been completed and the gap closed.
Total track laid on main line..... ............. ........... . ............... . 450 miles.
Total track laid on branch lines..... ................. .............. — .. ,307
“
Grand total for fiscal year..... ...............................
757
“
“ Since the close of the fiscal year, and up to September 15th,
284 miles of additional track have been laid on the main line
and branches, making 1,041 miles for the period beginning
July 1st, 1882, and ending September 15th, 1883.” * * *
“ TERMINAL CONSTRUCTION.,
“ A company called the Northern Pacific Terminal Company o f
Oregon has been formed. Its Capital stock is $3,000,000, held
“ CONSTRUCTION.
in the following proportions :
“ The work of construction on the main line and branches has Northern
Pacific........................ ............ : ..........................40 per cent»'
made satisfactory progress since the last annual report.” * * Oregon Railway & Navigation Company................................. 40
‘f'
Oregon
&
California.___------------- . . . . . . . . . .............................2 0
“ Wisconsin Division.—During the early part of the fiscal
year the work on the first twenty-five miles of this division, from
“ A total issue of $5,000,000 6 per cent gold bonds by thé Ter
Northern Pacific Junction to Superior, was completed.” f * minal Company was authorized to provide the means to pur
“ Surveys were made last spring for the extension of the division chase terminal grounds and to erect the requisite improvements
as far as Ashland, sixty miles from Superior, and a contract thereon. Of these bonds $3,000,000 have been sold at par, and
was made for the clearing, grading and bridging. Thirty miles the proceeds devoted to the acquirement of valuable real
o f road-bed will be completed, and the track laid before the estate, both in the city of Portland, on the left bank o f the
close* of the present working season, and the remaining thirty Willamette, and in East Portland, on the opposite bank: The
-miles will be finished early in 1884.” * * *
property in Portland proper comprises eorne sixty acres, adjoin-»
THE CHRONICLE.
320
in g the business portion of the city, with the use of 2,200 feet
o f dock facilities on the river bank,” * * *
[The arrangement by virtue of which the Northern Pacific
secures entrance to Minneapolis and St. Paul over what will
virtually be its own track and ample terminal facilities in those
cities by means of the St. Paul & Northern Pacific Railway, has
been noticed heretofore in the Chronicle.]
“
land department.
“ The following comparative table will show in detail the sales
o f land in the several divisions for the fiscal years ending June
30, 1882 and 1883 :
Year Ending June 30/82. Year EndingJune 30,’83.
Amount.
• Division.
Acres.
Acres.
Amount.
$1,700,517
$804,155
417,388
Minnesota & Dakota..215,582
324,420
110,033
M issouri...................... 24,654
70,545
24,625
6,567
126,20a
Yellowstone.................. 33,821
144,488
621
33,940
Montana........................
239
733,614
437,071
166,360
Pend d’Oreille..............164,977
134,194
37,658
26,945
P a cific... _____________ 12,536
$1,476,256
761,236
Totals........'............. 451,811
Increase 1883 over 1882............... .........................309,425
$3,061,860
$1,585,604
The increase inaverage price per acre is : All divisions, 0.'76c.;
eastern district, 0.19c.; Montana district, $1*65;. Western, dis
trict, $1'82. The total of separate purchases made for the past
fiscal year was 2,417, as against 1,350 in 1882. The average
number of acres sold to each purchaser was 314*95 acres, and
the purchases have chiefly been made by actual settlers for
immediate improvement.” * * *
The general income and revenue account for the year is as
follow s:
G E N E R A L INCOM E A N D R E V E N U E ACCOUNT.
$3,039,923.
Balance July 1st, 1832.................... ................ ......................
Keoeived from earnings..... ................................ $7,855,459
Land department........................................... 1,511,316
12,249— 9,379,024
Miscellaneous.................... .........................
Proceeds of bonds........................
$18,500,000
Preferred stock sold................................ .
757,169— 19,257,169
Loans for construction.......... .......... ....... . .
5,452,081
$37,128,199
$4,953,066
Expended for operating expenses.. . . ................................
383,862
Rentals and taxes.......................................... ............. ..
Interest......................................................... . $1,209,837
1,349,062
Interest accrued on dividend scrip............
139,224253,968
Preferred stock and bonds canceled...............................
Land department expenses and surplus for retirement
1,257,347
- of bonds........................-.............I................................. "
Construction......................... ....................... ...................... 16,370,905
1,604,916
New equipment...... .............................................. ............
2,013,966
Improvements and betterments on old road..................
247,231
-Material............................................................................ .
604,918
Interest................................................................... .*.........
Advances repaid....................................... .........................
4,593,946
Balance—
Casli reserved for interest, uncalled for and
accruing........... ....................................... . $2,275,651
Cask in kands of Treasurer and disbursing
pilicers.......................................................
1,219,3043,494,956
$37,128,199
F ollow in g is a com parison o f the earnings, operations and the
gen e ra l balance fo r three years, prepa red fo r the Chronicle :
R O A D A N D EQ U IP M E N T .
Miles operated June 30..........
Locomotives.............. ...............
Passenger, mail and exp. cars.
Freigut cars........ ............... .
Coal and all otker cars.............
1880-81.
754
104
61
2,525
503
1881-82.
1,298
158
103
~ 4,483
619
1882-83.
1,701
289
174
6,868
632
O P E R A T IO N S A N D F IS C A L R E SU L TS.
: Operations (eastern div's)—
Passengers earned....................
Passenger mileage....................
Bate per passenger per m ile..
Fieigkt (tons) moved........ ......
Freigkt (tons) mileage..... ........
Average rate per ton per mile.
Earnings (whole line)—
Passenger..... ........... ..■............
Freigkt...................... .......... j..
Mail, express, &c.............. ..
' 1881-82.
1880-81.
1882-83.
152,914
297,680
450,987
15,246,569
34,329,018
48,187,832
3 33 cts.
3 9 1 cts.
3-40 cts.
390,896
655,075
790,006
94,693,975 181,851,537 218,557,248
2-16 cts.
2-01 ots.
2-07 cts.
$
;
$
$
668,621
1,302,261
2,099,746
2,207,299
3,909,423
5,409,081
118,599
218,621
346,632
Total........ .
......
Operating expenses—
Maintenance of way, &c.
Maintenance o f cars.........
Transportation expenses.
M otivepo wer....................
G eneral........... ................
Bentals and taxes___. . . .
2,994,519
5,430,305
7,855,459
499,332
125,229
430,072
490,088
250,832
229,836
952,920
273,975
794,630
967,695
268,508
315,111
1,393,711
439,389
1,240,527
1,579,530
299,910
333,863
.
T o t a l....;................. . . . . . . .
Met earnings..................
P er et, of oper. exp. to eamin’s
2,025,389
969,130
67*64
3,572,839
1,857,466
65-80
5,336,930
2,518,529
67-93
G E N E R A L B A L A N C E A T CLOSE O F E A C H F IS C A L Y E A R .
1880-81.
1881-82,
1882-83.
■ Assets—
$
$
$
Bailr’d, build’gs, equip., Ids, &c 108,324,280 127,411,622 149,693,520
Stocks and bonds owned, cost.
3,846,857
2,236,235
3,424,534
Accounts receivable................
975,441
740,922
2,573,059
2,082,947
Materials, fuel, & c...................
4,259,060
4,506,341
Cask on kand........................... 11,567,944
2,299,001
3,375,398
206,331
In kands of trustee.................
42,558
486,386
T o t a l ......................... ; . . . . 127,003,800 136,939,398 164,059,238
Inabilities—
49,000,000 49,000,000 49,000,000
Stock, com m on .............. .
41,909,132
Stock, preferred....................... 42,312,589
41,749,464
24,616,500
Funded debt (see Supplement) 21,586,800
39,522,200
Dividend scrip.................. .
4,640,821
Unmat. pay on contracts........
2,600,601
Loans for construction..........
5,452,082
Interest’ accrued.; .................... ' 562,149
661,677
1,098,900
Proceeds of land sales.... 10,212,900
10,432,643
11,183,085
A ll other dues and accounts...
7,110,962
7,662,502
883,889
Profit and loss....... '
3,258,484
2,445,473
1,149,583
-Total....................; ........ 127,003,800 136,989,398 161,059,238
rVoL. XXXVII.
St. Paul Minneapolis & Manitoba Railway.
(For the yea r ending June 30,1883.)
From the annual report of the President, Mr. J. J. Hill, thefollowing is condensed:
“ During -the past year, in addition to the new equipment
purchased, the old equipment has been rebuilt or thoroughly
repaired, and is now in most excellent condition. The equip
ment was increased during the year as follows : Locomotives64, sleeping cars 8, passenger cars 26, baggage cars 8, box cars
609, flat and coal cars 293, caboose and boarding cars 36, derrick
and tool cars 3.” * * *
“ The double track, to accommodate the business of the
Breckenridge division, and give proper facilities for handling
the increasing summer travel ‘to Lake Minnetonka, between
Minneapolis and Wayzata, referred to in the last annual report,.,
has been under construction during the winter and spring, and
was completed and put in operation in July, 1883. The saving
in distance and time, with the improvement in grade and align
ment, and the relief it gives to the over-crowded yards at Min
neapolis, fully justifies the expenditure made in this direction.
“ The replacement of iron with steel has been continued dur
ing the year just closed. This work between St. Paul and St.
Vincent was completed last spring, and the main line of th e
company on the west side of the Red River, and the line from
Minneapolis to St. Cloud on the west side of the Mississippi^
River, will also be fully laid with steel before the close of the
present season.” * * *
“ The line from Larimore west was completed a distanee*of
forty miles in December, 1882, and the extension to Devil’»
Lake undertaken this spring, and completed so that regular
trains were put on July 4th. The line from St. Cloud to Hinck
ley on the St. Paul & Duluth RR. is completed, and has been,
in operation since Dec. 4,1882.” * * *
“ Under the contract with the Minneapolis & North Western
Railway, that line has been completed to St. Cloud, and trainsbegan running over the entire line December 17,1882.
“ Track was extended from Grafton north to the boundary
line, and trains commenced running September 24, 1882, giving
a second line between St. Paul and Winnipeg.
“ The purchase from the Northern Pacific of the Casselton
Branch Railway, made it necessary to construct a connection
between that branch and the Breckenridge Extension system,,
which was done by building a line from Everest to Casselton,
three miles. This was completed so that branch was put in
operation by this company December 11,1882.
“ The Red River & Lake of the Woods Railway to Sfc. Hilaire,
graded in 1882, was ironed this spring and the line put in oper
ation July 1, 1883. This branch extends beyond the limit of
the company’s land grant, into a section of government land
that is rapidly being taken up by actual settlers, and it is
thought will afford a very satisfactory business to the main sys
tem of railway.
“ The Sauk Ceatre Northern Railway was completed and put
in operation to Browerville, a distance of twenty-five and threefourths miles November 27, 1882, making available the large
purchase o f timber land referred to in the last report.” * *
“ A general reduction has been made in our freight tariff
daring the past year, and the average rate per ton per mile hasdecreased from 2 51 cents, the average for the year ending June
30, 1882, to 1*95 cents for the year ending June 30,1883, which
by comparison will be found lower than that of other lines simi
larly situated. The extent of this redaction is indicated by th e
fact that the tonnage transported during the past year at the
average rate per ton received during the preceding year, would
have yielded an increased revenue of $1,912,623.” * * * .
“ During the past year an agreement was made between thi»
company and the Northern Pacific Railroad by which some of
the new east and west lines in process of construction by this
company were exchanged for north and south lines that had
been built by the Northern Pacific. Such an adjustment of
existing differences was also had as will prevent disastrous
competition between the respective lines.” * * *
“ In accordance with the resolution of your board of direct
ors of April 12, 1883, this company have "acquired title to the
Minneapolis & St. Cloud Railway, the Minneapolis & North
western Railway, and the Saak Centre Northern Railway, the
money for the construction of these lines having already been
advanced by this company. Title has also been acquired to
the Casselton Branch Railway and the Pelican Valley Branch
which were purchased from the Northern Pacific Railroad. A ll
of these liues are now consolidated with the St. Paul Minne
apolis & Manitoba Railway.
“ Land-errant bonds to the amount o f $750,000 have been
redeemed and canceled during the year from proceeds of land,
sales.” * * *
“ The board of directors on the 12th of April last authorized
the stockholders to purchase the new consolidated mortgagebonds of the company to the amount of 50 per cent of their
holdings at 10 per cent of their par value; which privilege the
stockholders haye availed themselves of.
This aetion wa»
deemed by your board wise, and for the best interests off
the company, in view of the fact that new properties and line»
of railroad had been acquired, the value of which had been
added to the property, and fairly belonged to the stockholders*,
and ought properly to be represented in the basis of the fixed
charges of the company.” * * *
“ The business of the company during July, August and Sep
tember, 1882, showed an increase of 100 per cent over the same
months of the year previous, while the business of the entire
year just closed showed a gain of 38 per cent over the previou»
year. The enormous gain for the first three months was large-
THE CHEONICLE.
September 23, 1888,]
v d u e to the transportation o f rails, t r a c t m aterial, timber*
e te . fo r th e Canadian Pacific R a ilw a y, th e con stru ction o f
w h ich was b ein g ra p id ly pu shed, and a large am ou nt o f m ate
ria l was accu m u lated b y th a t com p a n y fo r this y e a r’ s w ork.
T h e open in g o f th e ‘ T h un der B a y B ran ch o f the Canadian
P a cific R ailw ay has taken a con siderable a m ou n t o f th e fr e ig h t
traffic g o in g to M anitoba via L ake S u perior, w hich has h ith erto
# o n e via D uluth and ou r lines.”
LAND DEPARTMENT.
T h e rep ort o f the L a n d Com m issioner m akes th e fo llo w in g exM b it:
aawThe report says : “ While the sharp competition of lines and
the operating of new railroads has divided the tonnage and
decreased the through business, it is gratifying to observe a
large and gradual increase in the local traffic, which it is ex
pected will continue, and thus render your road comparatively
independent of the through traffic, which often has to be car
ried at non-remunerative rates. The local freights upon the
two divisions of the main line for the past two years were :
.
1882-83.
Chattanooga D iv ision .................. $565,651
Northwestern D ivision .................. 164,596
1881-82.
$455,933
94,164
Increase.
$109,748
70,432
T otal........... .................................$730,247
$550,097
$18(1,150
Acres.
Total acreage oi land grant (10 sections per m ile)..... . . . . . .
Total acreage certified to June 30, 1883.................. 2,79b,755
321
3,848,000
“ This increase has been attained partially by the encourage
ment o f the location of blast furnaces, mills and factories along
Total acreage sold to Jane 30, 1883
..................1,493,425
the line and at Nashville, but most of the increase may be ac
Less contracts canceled............................... ••- .........
,Ob-i i,4db^d4i counted for by the bountiful crops of 1882 throughout the
.Remaining unsold at June 3 0 ,18 8 3 ............................................. 2.411,659 country traversed by your road.”
The income statement is as follows :
Minneapolis & St. Cloud Railroad total grant (unsold):— .........428,000
Surplus or
During the year ending June 30, 1883, 104,245 acres of land were
sold for $587,387, an average price of $5 68 per acre. There were sold
•during the year ending June 30, 460 town lots, for $31,829, an average
price ner lot of $69 19.
,
, „
T
..
The "total cash receipts of land department for year ending June 30,
1.883, were $901,281, and net receipts (less expenses) $913,944.
The amount of deferred payments (land notes) due company, bearing
Interest at 7 per cent, were $1,158,356.
F o llo w in g are th e statistics o f earnings, expenses, & c., fo r
f o u r years en din g June 30, and th e balance sh eet fo r three
y e a rs, com p ile d fo r the C hronicle :
ROAD AND EQUIPMENT.
1882-83.
1879-80. 1880-SL 1881-82.
1,350
1,058
Total miles operated. . —
656
865
201
137
TiOcomotives...................... 65
o?
157
119
Pass., mail & express cars.
69
81
3,707
4,753
Freight cars............. . .........
1,468
2,522
82
158
A ll other cars........ . ..........
55
86
$
$
E arn ings—
$
_§ __ _
Passenger............................. 672,048
819,929 1,587,180 2,033,441
Freight?. ...........................2,084.712 2,691,773 4,773,006 6,687,935
427,148
269,508
Mail, express, rentals, & c.. 176,348
189,150
Main Stem.................
Lebanon B ra n ch ............
McMinnville Branch.................
Fayetteville B ra n ch ...............
Centreville Branch..................
Duck River R .R ............. - ........
Total gross earnings...2,933,108 3,700,852 6,629,694 9,148,524
Operating expenses—
Maintenance of way, & c.. 414,672
515,311 1,217,006 1,289,8 41
965,395 1,488,337
Motive power..................... 14.7 ^ e ss l
419,225
233,724
Maintenance of c a r s ....... 54 ’
)'lg % 4 0 ?
945,683
703,089
Transportation expenses... 281,349
429,032
252,063
195,002
86,559
109,588
T a x e s . . . . . . . ..........
199,907
201,562
•General.................
143,079
128,747
T o t a l...? .,............ .....1,399,647 1,863,035 3*515,778 4,595,056
Met earnings.........................1,533,461 1,837,817 3,113,916 4,553,468
5303
5022
P e r ct. of op. exp. to earn’s.
47-71
50 34
INCOME ACCOUNT.
1882-83.
1881-82.
1880-81.
1879-80.
$
$
$
$
Receipts—
4,553,468
3,113,916
1,837,817
1,533,461
Net earnings.......................
813,945
860,677
223,832
Revenue from Land Dep’t 597,672
92,106
34,259
4,600
4,851
Other receipts....................
Net earnings. Interest, etc.
$559,453
$880,775
19,089
51,955
12,618
20,952
12,863
35,388
20,459
2,951
26,488
16,643
Total..................................... $1,008,667
deficit. .
S. $321,322
S.
32,865
8,334
S.
S.
22,525
D
17,507
D
9,344
$650,072 S. $357,695
Dividends received on stocks ow n ed ...............................................
T o t a l........................................................................... .
18,750
$376,445
Im provem ents o f road and equipm ent..................................... -. 104,465 -Surplus fo r the y ea r............................................- - ..........- ..........$271,980
• From this surplus a dividend of 2 per cent has been declared
on the stock, payable Oct. 1.
extensions.
.
“ The grading for the extension from Rock Island to Sparta
has been completed, together with the piers of Caney Fork and
Town Creek bridges. The superstructure of these bridges and
track-laying will be finished during the present year.” * * *
“ There has been expended upon this extension during the year,
$129,876.’
■„
“ The Jasper branch has been extended from Victoria to
Inman 5 3 miles, under the agreement -made with the Tennes
see Coal Iron & Railroad Co; referred to in last report.”
*
“ The Centreville branch has been completed to Duck River*
opposite Centreville, a distance of 34 miles from Dickson,
where it connects with the Northwestern division.
An
agreement to extend this road to the Lewis County line,
13 miles, was entered into on Dec. 16,1882, between the JEtna
Manufacturing, Mining & Oil Co. and your company, for the
purpose of developing the rich ore fields of Hickman County.”
GENERAL INVESTMENT NEWS.
Denver & New Orleaus.—A public auction sale of securities
of the Denver & New Orleans Railroad Company occurred at
Total in com e............... 2,135,984 2,066,249 4,008,852 5,459,519 the office of the Mercantile Trust Company yesterday noon,
disbursements—
947,227 1,109,951 1,188,091 1,264,279 Mr. R. V. Harnett being the auctioneer. - The Trust Company
Interest on debt.............
975*000 1,724,664 held as collaterals for money loaned 2,286 of the first mortgage
813,945 bonds, and 25,400 shaves of the stock of the railroad company.
702,864
223,832
597,672
©inking fund.....................
157,812
35,288
Miscellaneous..................... .
The par value of the bonds was $1,000. The sale was made in
Total disbursements... .1,580,194 1,333,783 3,023,767 3,802,888
985,085 1,656,631
732,466
555,790
Balance, surplus................
G E N E R A L B A L A N C E A T CLO SE O P E A C H F IS C A L T E A R .
1881-82.
1852-83.
34.825,534
360,913
828,857
243,008
1,020,194
37,691,336
665,731
1,095,549
731,549
2,061,724
44,812,236
2,290,329
370,518
342,037
2,021,964
653,201
350,000
10,882
37,536,583
42,292,742
50,851,167
15,000,000
18,107,700
1 2,681,685
427,638
15,000,000
18,646,000
C1,308,472
1 237,557
447,723
- 944,018
3,322,506
113,121
2,273,345
20 , 000,000
20,791,720
1,592,079
2,034,110
250,250
391,847
1880-81.
Jlsscls_
Railroad, build’gs, equip’!, &c.
Bills and accounts receivable.
Materials, fuel, &c....................
•Cash on hand........................ .
Investments in other compan’s
Minn. & St. Cl. land grant—
Timber lands.
Miscellaneous.
Total....................................
Liabilities—
« to o k ................ .........................
Fund’d debt (see S u p p l e m e n t )
Bills and payrolls, & c.............
A ll other dues and accounts..
Coupons.....................................
Minn. Union bonds..................
^Subscription for bonds*.. . . . . .
Miscellaneous..... ......... .
Balance profit and loss............
£ $
31,299
1,288,261
$
$
119,184
5,671,977
Total liabilities.................. 37,536,583
42,292,742
50,851,167
* This amount was repaid in cash, and the contemplated issue of bonds
-was not made.
Nashville Chattanooga & St. Louis.
{For the yea r ending June 30, 1883.)
From the annual report submitted at the meeting and printed
in the Nashville papers, the following information is obtained
in advance of the issue of the pamphlet copies:
The mileage operated is 554 miles. During the year addi
tions were made to the Jasper and Centreville branches, increas
ing the mileage worked by 15 miles. The statement of bonded
debt shows an increase of $108,000 during the year.
The earnings of the whole system compare as follows
Freight.............................
Passengers.....................
Mails, etc.......$....... .........
1882-83.
.......$1,513,875
.......
621,171
.......
148,477
1881-82.
$1,364,067
580,560
129,956
Total..............................
Expenses..........................
.......$2,283,523
....... 1,274,855
$2,074,583
1,240,991
Net earnings................
Per cent of expenses... 1.
.......
55-80
$833,592
59-81*
consequence of a default of payment of certain promissory
notes which had been given to the Mercantile Trust Company
bv the Denver & New Orleans Railroad Company. The amount
of the Trust Company’s claim was something over $1,500,000,
and the secuiities which were offered were bid in by Mr. J. S.
Brown of Denver, for $1,592,000. The sale was attended by a
large number o f gentlemen interested in the Denver & New
Orleans company, including President Evans. The purchase
by Mr. Brown is supposed to be in the interest of the company.
—New York Times, Sept. 20. s
East Tennessee Virginia & Georgia.—Mr. Ge^rgeS. Scott,
representing the Richmond & Danville Railroad; George Jb.
Baker, President of the First National Bank, and John I .
Martin, of Martin’s Stores, Brooklyn, have been elected direc
tors of the East Tennessee Virginia & Georgia Railroad.
Massachusetts Central.—About 220 of the 3,500 first mort
gage bonds have not yet assented to the plan of reorgani
zation, and of these it is said that 70 will come m in a short
time. Those bondholders who do not 3om in the. reorganization
will receive from the proceeds of the foreclosure sale about 12/2
percent of the par value of their bonds.
Ohio Central.—From the report submitted at the recent
meeting the subjoined figures are compiled for the years
ending June 30. The earnings for the year past were on an
average of about 260 miles, against 225 mil®®
F60
8U82.
-3 .
$907,364
551,293
Net earnings...........................................
$349,785
$356,071
The result of the year 1882—83 was as follows:.
$349,785
Net earnings, as above
Taxes and rentals.................................- ....... ...............169 600
Car-trust interest........ v ................ ......................... .. 1.380-790,980
Interest on mortgage bonds.......................- .............
$141 195^
Deficit for the year........ .......— -.................... * c * {_ .
■ Postal Telegraph Co.—A dividend of 33% ^ per cent m
bonds and 33% per cent in stock of the Postal
pany has been declared to stockholders of the Electro-Graph e
Manufacturing Company, on condition that for
y .
shares there shall be paid $1,000 in bonds and ten shares m
stock of said Postal Telegraph Company. * Dividend payable
Oct, 1. The books close Sept. 25 and re-open Oct. 1.
322
THE CHRONICLE.
3 p ie C c n m u c rc u it T’ i w r s .
COMMERCIAL
EPITOMH~
F riday N ight, Sept. 21,1883.
The weather has continued favorable for the autumn trade,
and fair progress has been made in business for the season.
Prices are somewhat less depressed, and the tone of mercantile
circles seems to improve. Still, there is no very decided. or
important feature to note. The weather has been warmer
and otherwise favorable to such late crops as escaped the frosts
mentioned last week. The course of speculation, though not
active, has been towards higher prices for staples of agricul
ture, somewhat checking the export movement.
There has been a more liberal speculation in lard and in sym
pathy with the stronger tone in the corn market, prices have
somewhat improved. It is noticed, however, that the market is
subject to frequent and quick changes. To-day, after opening
firm and advancing, the feeling became easy, and at the close
little or no advantage for the day had been gained; September
-options sold at 8'40c,; October, 8'32@8 35c.; November, 8'04@
8'05c.; December, 8'01@8 05e.; seller year, 8@3 01c.; January,
8 ;05@8'08c.; February, 8 10@815c.; closing dull; October, 8‘32@
8'34c.; November, 8 06c.; December, 8‘01@S‘02e.; January,8'04@
8 ‘05c ; February, 811@8’12c. Pork has had a better business
on the spot, and after declining freely is now steady at $12 25
foulness, $17@17 50 for clear backs. Beef hams dull and easy
at; $18@19 for Western. Beef about steady at $17 50@19 for
city extra India mess. Bacon has ruled dull and is now nomi
nal at 7c. for long clear. Butter is steady at 27%@29c. for
creamery. Cheese rules firm, though rather slow, at 10% @llc.
for the best factories. Tallow is quiet but steady at 7%c. for
prime. Stearine is firm at 9c. for prime; oleomargarine sells
- w ell at 8/4 c.
Rio coffee has latterly been quiet in a legitimate way, but
a fair speculation has been noticed at generally steady price*
until to-day, when a realizing movement brought about a de
cline. Fair cargoes on the spot quoted at 10@ 10^ c ,the latter for
new. The options were sold to-day as follows : October, 8 30c ;
November, 8T5@8-20c ; December, 8T5@8*20c,; January, 8-20e.;
February, 8 25c.; March, 8‘30@8'35c.; April, 8 30@8'35c.; July,
860c. Mild grades have received some attention, Mara
caibo particularly, at recent prices. Rice has but a jobbing in
quiry. Molasses is now firm and actively called for; 50-test
refining is quoted at 26c., and a large cargo sold to-day at
24c. flat. Raw sugars have been advanced, and to-day a larger
business was reported; altogether the feeling at, the moment is
quite satisfactory; fair to good refining Cuba 6% @ 6%c. Refined
has ruled steady aad moderately active at 8% @ c9. for hards
and 8 5-16@8%c. for standard “ A.”
Kentucky tobacco has been active, but only part of the sales
(embracing 700 hhds, 200 of which were for export) have been
made public on the basis of 6@7%c. for lugs and 8@ 12c. for
leaf. There now little doubt but that the recent cold weather
retarded and stunted the present crop. In seed leaf there has
been a large movement at very firm prices. The sales embrace
8,500 cases, including 4,200 cases 1882 crop, Pennsylvania, 12@
17e.; 638 cases 18S1 crop, do., 9 @ 1 2 > 2 C . ; 300 cases 1880 crop, do..
9%@12e.; 900 cases 1882 crop, Ohio, 10@15c.; 200 cases 1882
crop, Ohio Little Dutch, 18c,; 200 cases 1882 crop, do. Havana
seed, 15c.; 100 cases 188C-81 crops, Ohio, 4@10^|c.; 400 ca'es
1882 crop, Wisconsin Havana seed, 12%@18c.; 500 cases 1882
crop, State, 12@15c.; 350 cases 1882 crop, State Havana seed,
l8@2Cc,; 200 Cases 1882 crop, New England wrappers, 15@30c. •
and 150 cases 1882 crop, do. Havana seed, 25c.; also, 400
“bales Havana, 80c.@@$l 17%.
In naval stores little has been done, and with an irregular
- tone at the South the feeling here has not been satisfactoryattained to good strained $1 52%@$1 60, and spirits turpentine
4Q@40/^c. Refined petroleum has been advanced in sympathy
with crude and a strong feeling abroad ; 70-degrees Abel test is
n qw 8%c. for all October and early November delivery. Crude
^rtificates were active to-day, and forced up from $1 14% to
l p l i /4 ; at the close there was a re-action downward to $1 15%.
The daily deliveries are now much in excess of the runs. Ingot
copper has been more active and firmer at 15%c for Lake •
other brands, 14%@14%c. Lead has been a feature, 1,400 tons
selling at 4’30@4-35c. for common and refined. American and
foreign irons have been generally dull and almost nominal.
The speculation here has been small and at lower prices. Lin
seed oil is firm at 56@57c. for city anu c5c. for Western ; crude
menhaden oil, 39@41c. Lard, 65@70c. Hops are still quiet at
20@25c. for seedling 1883 and 26@31c. for State 1882. Wool is
firm for fine grades, but the demands -are checked by the low
water in the New England manufacturing districts.
Ocean freight steam room has been fairly taken by the grain
trade and rates have been steady until to-day,when the London
steamers accepted a decline. The small supply of petroleum
tonnage has checked the demands from that quarter and maiafirm: rates. - Grain to Liverpool by steam taken to-day at
3% d,; cotton %d.; flour Is. 6d. per bbl. and 12s. 6d. per ton;’
bac<m 12s. 6d.; cheese 15@20s.; grain to London by 'steam 3%d.;
8aH to Lisbon at 13%c.; do. to Antwerp by "steam quoted
t u r re®ne^ petroleum to Amsterdam 3s. 6d.; do. in cases to
+^erT evant 20%e-> A le x a n d r ia 21% c.; crude do. and naphtha
Havre 4s.
v
a,
XXXVII,
£V ol
C O T T O N .
F riday . P. M., September 21, 1883.
T he M ovement of t h e C rop , as indicated b y our telegrams
from the South to-night, is given below. For the week ending
this evening (Sept. 21) the total receipts have reached 96,819
bales, against 64,348 bales last week, 33,308 bales the previous
week and 22,971 bales three weeks since; making the total
receipts since the 1st,of September, 1883, 194,475 bales, against
160,478 bales for the same period of 1882, showing an
increase since September 1, 1883, of 33,997 bales.
1
Receipts at—
Sat.
Galveston.......
Ridianola, &c.
New Orleans...
Mobile...............
Florida.........
Savannah........
Brunsw’k, &c.
Charleston.......
Pt. Royal, &c.
Wilmington___
Moreh’d C.,&c
Norfolk.............
West Point,&c
New Y ork........
Boston.............
Baltimore . . . ..
Philadelp’a, &c.
Mon.
3,316
6,814
....
....
1,013
392
4.188
1,636
Tues.
Wed.
1,440
....
2,178.
814
3,279
3,525
3,727
437
1,068
571
4,611
__ ....
3,319
—-,
2,954
101
....
537
....
Thurs.
4,056
3,611
....
3,639
....
...
3,726
....
629
—
742
2,442
2,830
3,110
316
365
234
826
963
67
1
. . ..
nn48
....
V...
h
....
696
....
....
. ...
•. . . .
263
....
Fri.
Total.
3,036
1,085
5,644
605
130
4,801
339
2,934
75
2861
70
1,141
1,419
29
126
377
69
21,440
1,035
17,818
4,455
130
24,037
339
17,90S
75
1,931
70
4,905
1,419
29
242
377
471
110
4
25
Totals this week 11,742 21,869 11.760 15.195 14,087 22,166 96,819
For comoarison, we give the following table showing the week’s
total receipts, the total since Sept. 1,1883, and the stock to-night
and the same items for the corresponding periods of last years.
Receipts to
September 21.
1882.
Slock.
This Since Sep.
1883.
1882.
Week. 1,1882.
1883.
This Since Sep.
Week. 1,1883.
Galveston....... 21,440
Indianola,&c.
1,085
New Orleans... 17,818
Mobile.........
4,455
Florida.............
130
Savannah..... 24,037
Brunsw’k, &c
339
Charleston....... 17,996
Pt. Royal, &c.
75
Wilmington___
1,931
M’head C., &c
70
N o r fo lk ........
4,905
West Point,&e
1,419
New Y o r k . . . . .
29
Boston. ...........
242
Baltimore . . . . .
377
Philadelp’a,&c.
471
46,277
2,535
32,726
6,784
354
49,470
454
36,208
457
4,123
235
9,688
2,350 ,
276
321
'449
1,768
96,819
19,448
1,022
8,690
4,742
74
19,184
667
14,366
44,279
3,592
15,342
7,645
161
44,767
667
27,536
38,078
514
54,482
6,107
15,444
3,379
32,623
22,972
25i391
17
2,870
3,213
282
7,443
7,019
2,048
1,035 97,218
1,117
3,855
458
6,657
1,206
5,130
16,202
1,913
142
5,054
788
418
449
146
120
54,593
1.790
3,293
5,758
134,475 77,223
160,478 280,304
152,104
24,569
2,216
1,888
In order that comparison may be made with other years, we
give below the totals at leading ports for six seasons.
Receipts at—
1883.
Galvest’n,&o.
22,525
New Orleans.
17,81.8
M obile.........
4,455
Savannah___
21,037
Uharl’st’n, &c
18,071
Yilm’gt’n, &c . 2,001
Norfolk, &c.. " 6,324
All others....
1,588
1882.
1881.
1880.
1879/
1878.
20,470
8,690
4,742
19.184
14,366
2,055
5,842
1,874
18,006
27,836
6,808
24,622
15,361
2,539
12.864
2,397
17,594
18,606
6,022
32,652
2S,564
4,276
21,634
4,065
22,026
19,872
9,776
30,438
19,011
. 4,096
18,8.70
3,610
14,048
8,373
3,79833,849
22,630
4,009
8,813
3,343
Tot. this w’k.
96,819
77,223 112,293 136,413 127,729
98,863
Since Sept. 1. 191.475 160.478 295,021 321,443 248,636 246,458
waiv-esxon mciuaes inaianoia; charleston includes Port Roval, &c
Wllmington includes Morehead City, &c.; Norfolk includes City Point. &c.
The exports for the week ending this evening reach a total
of 37,206 bales, of which 19,816 were to Great Britain, 9,914 to
France and 7,476 to the rest of the Continent, while the stocks
as made up this evening are now 230,304 bales, Below are the
exports for the week and since September. 1.«1-883.
from—
Galveston......
New Orleans..
Mobile............
Florida .........
Savannah ....
Week Ending Sept. $1.
From Sept. 1 .1883. to Sept. 31,18S3.
Exported to—
Great
Conti Total 'Great
Conti
Toted.
Brit'n. France nent. Week. Britain. Frana nent.
2,779
3,987
5,927
Pailadelpra,&c
9,365
379
5,916
1,377
T ota l...... .
19,§16
9,914
Total 1882... 14.697
3 513
Wilmington..
Norfolkt.......
New York ....
3,572
6,935
1,150
4,722
13 5C5
6 679
9,220
40,254
6,766
6,540
4,030 19,372
379
9,312
1,377
24,355
758
11 075
1,991
7,476 37,20«
4.98« -2a 176
45,359 17,236
57v780 6 347
3,396
* Includes exports from West Point, &c.
5,096
1,991
15,466 . 78,061
8 9«5
73 092
September 22, 1833 ]
T H E
323
C H R O N IC L E .
In addition to above exports, oar telegrams to-night also give
T he Sales and P rices op F utures are shown b y the follow *
ns the following amounts of cotton on shipboard, not cleared.^ at! ing comprehensive table. In this statement will be found th e
the ports named. We add similar figures for New York, which daily market, the prices of sales for each month each day, and
are prepared for our special use by Messrs. Carey, Yale & the closing- bids, in addition to the daily and total sales.
Lambert, 89 Broad Street.
a
SbJMS Q V ODO Q3g?§-1
On Shipboard , not cleared—f o r
s'as.g'
¡¡s&
S
g,B o ä £ s
oOO® P*
©œ
©O
©
2®
b G
» m go© ©Ä œ
»0 g
* GO© © 5
Leaving
>®
g*®
aB ®-a
**! 2.
SO
p*© ® so 00© 0
Sept. 21,
at—
Other
Great
B r ita in . France . F o reig n
Coast wise .
Total .
43,911
6,107
21,201
25,923
29.305
4.937
88,718
14 3S6
Total 1883.
9,005
12,528
11,629
9,154
45,316
234,988
Total 1882 . . . . .
Total 1881 . . . . .
17,817
52,849
4,119
9,120
2,834
8,897
6,880
6.188
31,650
77,054
120,454
264,043
Cotton for future delivery has been less active and less buoy
ant in the past week. The speculation for the rise has fallen
•off materially. It received a severe blow when on Tuesday
Liverpool failed to respond to the advance in this market on
the afternoon of Monday, and some of the Southern markets
showed weakness. New Orleans alone showed strength, and
it became evident that the recent important advance received
its impulse and principal support from that market. The
decline from the close of Monday to the lowest figures of W ed
nesday was from 16 to 20 points, except for September, which
yielded only 8 points and brought nearly the same figures as
October. There was some recovery in the later dealings of
Wednesday, and Thursday after a dull opening showed more
strength, and closed slightly dearer. To-day the opening was
strong, followed by a gradual advance, until the close was 7
@11 points dearer and 2@4 points above the closing figures of
last Friday for the distant deliveries, and 9 points dearer for
September. Cotton on the spot further advanced %c. on
Saturday last. There has been a good business for home con
sumption, with some export, and Tuesday afternoon 2,400
bales were taken for speculation. To-day there was an ad
vance o f %c , with a large business reported done last evening
for export and speculation, middling uplands closing at 103^c.
The total sales for forward delivery fo j the week are 832,500
bales. For immediate delivery the total sales foot up this week
13,093 bales, including 2,457 for export, 6,456 for consumption,
4,180 for speculation and ------in transit. Of the above, — bales
were to arrive. The following are the official quotations for
each day c f the past week.
UPLANDS.NEW ORLEANS.
TEXAS.
Sept, 15 to
Sept . 21.
Sat, M on T u es Sat. M on T u es Sat. M on. T u e»
33,6
8%
97,6
10
10%
107,6
10%
11
11 %
11%
12%
Th.
8316
8%
97,6
10
10%
107,fi
10%
11
11%
11%
12%
F r i.
33,6
8%
9”,6
10
10%
107,6
10%
11
11%
11%
12%
W ed
83,e
8%
97,6
10
10%
107,6
10%
11
11%
11%
12%
Th.
8316
85g
97,6
10
10%
107,fl
10%
11
11%
11%
12%
F ri.
83|6
8%
97ie
10
10%
107,6
10%
11
11%
11%
12%
Sat.
83,6
8%
«7,6
10
10%
107,0
10%
11
11%
11%
12%
M on
85,6
8%
9%e
10%
10%
10%6
10%
11%
11%
1178
12%
Tu es
83,6
8%
97,6
10
10%
107,6
10%
11
11%
11%
12%
W ed
83,6
8%
9716
10
10%
107,6
10%
11
11%
11%
12%
Th.
85,6
î 8%
9», 6
10%
1038
109ie
10%
11%
1138
11% .
12%
Fri,
B>. 7%
83,6
878
91316
7%
¿3,6
878
913,«
7%
¿3,6
878
913,6
7%
«3,6
878
913,6
.7%
83,6
8%
913,8
7%
8°16
9
915,6
71318 71518 71516 83,6
83g
8%
83g
8%
9:He 9316 93,6 9%6
9%
9%
9% 10
10
10
10
10%
10316 103,6 103l6 107,6
103â 103s 1038 10%
10% 1034 10% 11
11 * 11
11
11%
1112 H is 11% 11%
1214 12*4 12% 12%
W ed T h . F r i. W ed
Ordin’y.$S> 715j g 71516 8l,e
Strict Ord.. 8%
83s
8%
Good Ord.. 93la 93,6 95,e
9%
Str.G’dOrd 9%
9%
Low Midd’g 10
10
10%
Str.L’wMia 10310 103,6 105,6
Middling... 1039 103a 10%
Good Mid.. 10% 10% 10%
11
Str. G’d Mid 11
11%
Midd’g Fair 11*2 11% 11%
Fair........... I214 12% 12%
STAINED.
Good Ordinary....
Strict Good Ordinary..,..
Low Middling............ .
Middling............ .............
SALES OP SPOT AND TRANSIT.
E x - I Con - Spoc- Tran
p o rt . sum p . u l ’ t’ n s it . Total.
1
826
1,914
519
1,204 2,400
743
1,250 1,780
6,456
OI
B at. . Firm at % adv... •...,
Mon . Firm..................
....
Tues. Quiet and Steadv
Wed . Steady...__
500,
Thur3 Quiet and firm .. 210
F r i . . Steady at % adv. 1,717
Total
2.457!
CO
CL O SE D .
....
826
1,914
519
4.101
'983
4,747
FUTURES.
Sales .
233,800
113,100
140,000
118.400
93,400
133,800
DeliV’
eries.
400
200
300
300
300
300
13,093 832.500 1,800
The dally deliveries given above are /actually delivered tlie day
previous to that on 'wMcli they are reported.
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The total sales and future deliveries each day during the
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venience of the reader we also add a column which shows at a
glance how the market closed on same days.
SPOT MARKET
to
Of V to
too
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MARKET AND SALES.
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Market,
Range an d
Total Sales .
10,571
None.
4,190
6.700
8,273
2,032
3,500
5,000
«-f*•
2. 03
Active.
233,800
10 37@11-51
Unsettled.
180
None.
1,050
4.200
1,642
2.032
None.
None.
Lower. %
140,000
10 38 »11-57
Dull.
2,527
None.
1,840
2,300
3,662
None.
2,700
1,600
Variable.
«3,400
ip-37®ll-48
Firmer.
7,359
None.
1,300
200
2,869
None.
800
None.
832,500
505
None.
None.
None.
100
None.
5,000
3,400
1 2,077,100 1
New Orleans___
M obile..............
Charleston.......
Savannah.........
Galveston.........
N orfolk.............
New York.........
Other ports.......
Ordin’y-fiSi
Strict Ord..
Good Ord..
Bfcr. G’dOrd
Low Midd’g
Btr.L’w Mid
Middling...
Good Mid..
Str.G’dMid
Midd’g Fair
Fair..........
e
M» P O
QO• GÇ
D'V ¿SCO* ^
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05 • I
Stock .
i
©■ ;
u i!
Transferable Orders—Saturday, 10-40c; Monday, 10-45c.; Tuesday,
10-450.; Wednesday, 10-45c.; Thursday, 10-45c.; Friday. 10-50c.
■
Short Notices for September—Saturday, 10-35@10-40c.; M onday,
10-36 S10-41C. >
|3P We hava included in the above table, and shall continue each
week to give, the average price of futures each a ay for each month. It
will be found under each day following the abbreviation “ Aver.” The
average for each month for the week is also given at bottom of table.
The following exchanges have been made during the week:
100 Sept. s. n. l» tli for reg. even.
•38 pd. to exch. 3,000 Jan. for Apr.
•35 pd. to exch. 100 Nov. for Feb.
01 pd. to exch. 300 Sept. s. n. 19th
for regular *
100 S e n t , s . n . ' 19tb for s.n. 22deven.
•68 pd. to exch. 500 Jan. for July.
•14 pd. to exch. 400 Jan. for Eeb.
01 pd. to excli. 100 Sept. s. n. 20th
for regular
E v e n - 100 Sept. s. n. 21st for re g ,
-22 pd. to exch. 500 Oct. for Dec.
-25 pd. to exoli. 300 Deo; for Feb. •.•
27 pd. to exch. 100 Jan. for Mar.
-22 pd. to exch. 400 Nov. for Jan*
_ ___ ....—___ ----------—a
w
324
T H E
C H R O N IC L E .
[V ol . X X X T IL .
T he V isible Supply o i Cotton to-night, as made u p b y cable
and telegraph, is as follows. The Continental stocks, as well as
e same towns have been 14,649 bales more than the same week
list year, and since September 1 the receipts at all the towns
those for Great Britain and the afloat, are this week’s returns, aie 20,309 bales more than for the same time in 1882.
and consequently all the European figures are brought down
Quotations foe M iddling! Cotton at Other M arkets .—In
to Thursday evening. But to make the totals the complete the table below we give the closing quotations of middling
figures for to-night (Sept. 21), we add the item of exports from cotton at Southern and other principal cotton markets for each
the United States, including in it the exports of Friday only.
day of the past week.
1883
Stock at Liverpool.......... bales. 765,000
Stock at London___. . . . . . . . . . .
49,500
Total Great Britain stock . 814,500
StQck at Hamourg....................
3,800
41,300
Stock at Bremen ..................
24.000
S.ock at Amsterdam.
1,600
Stock at Rotterdam .
7,700
Stock at Antwerp...
97.000
Stock at Havre___
10.000
Stock at Marseilles..
49,000
Stock at Barcelona.
Stock at Genoa..........................
11,000
Stock at Trieste...................
10,000
Total continental stocks... 255,400
Total European stocks.. ..1,069,900
India cotton afloat for Europe. 126,000
Amer’n cotton afloat for Eur’pe 62,000
Egypt,Brazil,&o.,aflt for E’r’pe 27,000
Stock in United States ports .. 280,304
Stock in U. 8. interior tow ns..
54,559
United States exports to-day..
6,000
1882.
539,000
75,800
614,800
2.900
31,900
9.900
1,800
•300
111,000
1,600
23,000
11,300
5,700
199,400
1881.
693,000
44;300
737,300
9,000
42,200
21,800
2,830
2.300
168,000
4.300
36.000
14.000
7,900
308,330
814,200 1,045,630
207,000 140,000
53.000 113,000
14.000
15.000
152.104 341.097
87,191
17,313
8,680
5,600
1880.
534.000
52,900
586,900
4,200
26,700
18,100
2.530
981
72,300
8,540
40,100
7.000
4.000
184,45Ì
771,351
90.000
126,000
17.000
255,173
61.009
12.000
Total visible supply............1.625,763 1,264,217 1,749,598 1,332,533
O f the above,the totals of American and other descriptions are as follow s:
American—
^ 481,000 229,000 547,000 344,000
95,000
56,000 158,000
.. 144,000
53,000 113,000 126,000
..
62,000
255,173
341,097
^ 280.304 152,104
61,009
87,191
..
54,559 „ 17,313
12,000
8,680
5,600
6,000
Fast Indian,Brazil, etc.—
Price Mid. Upl., Liverpo
..1,027,863
513,017 1,254,968
893,182
284,000
..
49,500
„ 111,400
126.000
..
27,000
310,000
75,800
143,400
207.000
15,000
146,000
44,300
150,330
140,000
14,000
190,000
52,900
89,451
90,000
17,000
597,900
.1,027,863
751,200 494,630
513,017 1,254,968
439,351
893,152
,.1,625,783 1,264,217 1,749,598 1.332,533
71ie<L
7%d.
7d.
. SlSiod.
CLOSING! QUOTATIONS FOR MIDDLING! COTTON ON—
Week ending
Sept. 21.
Galveston___
New Orleans.
Mobile..........
Savannah....
Charleston...
Wilmington..
Norfolk. . . . . .
Boston
Baltimore. ..
Philadelphia.
Augusta____
Memphis
St. Louis.......
Cincinnati...
Louisville___
Satur.
Mon.
10%
10%
10%
10%
10 %
10%
9IÖ,
10
10%
10
10%
10%
10
10
10
10 %
10%
U '%
10 %
10%
9%
10
9%
10
10%
10
10 %
10%
9%
9%
Tues.
-
Wednes.
10%
105 16
10 %
10
10%
10
101 16
10%
10%
10%
9%
10%
10%
10%
10 %
10%o
10%
iff*
10
10 % '
10 %
10%
10 %
9%
10%
10%
10 %
10%
- 9%
Fri.
Thurs.
10%
10 %
10 %
10%
10%
10%
9i616
10
9%
9i%&
10 %
10
10 %
10%
10%
10 %
10%
10%
i0 % @ %
10
10%
10%
10%
10 %
10 %
9%
9%
10
10%
10 %
following table is
prepared for the purpose of indicating the actual movement each
week from the plantations. Receipts at the outports are some
times. misleading, as they are made up more largely one year
than another at the expense of the interior stocks. We reach
therefore, a safer conclusion through a comparative statement
like the following. In reply to frequent inquiries we will add
that these figures, of course, do not include overland receipts or
Southern consumption; they are simply a statement of th s
weekly movement from the plantations of that part of the crop
which finally reaches the market through the out-ports.
R eceipts
from , the
P lantations .—The
RECEIPTS FROM PLANTATIONS.
Week
endino—
July 6.......
“ 13.......
S 20
“ 27.......
Aug. 3 .....
“ 10.......
“ 17........
“ 24.......
“ 31.......
Sept. 7.......
“ 14.:....
“ 21.......
Receipts at the Port». St’ft atlnterior Towns. Rec'pts from PUmt’ns
1881.
1882.
1883.
19,163
18,199
19,362
16,151
.17,818
13,062
20,538
35,078
46,722
72,612
94,052
112,293
9,586
8,142
9,IC0
6.126
4,815
4,811
6,356
12,352
23,032
28,688
49,512
77.223
11,914
11,024
9,208
8,296
7,064
9.706
10,305
11,365
22.971
33.308
64,348
96.819
1881.
1882.
72,391 42,843
71,003 .35,454
65.756 31,622
53,27 < 28.276
52,441 24,446
48,273 21,093
45,371 16,535
40,492 14,327
46,422 15,526
57,410 16.519
75,452 19.115
103,779 29,985
1883.
1881.
74,647 12,937
68.762 19,411
64,239 11,115
61,629 8.672
57,886 11,982
53,206 8,894
52,016 17,636
50,526 30,199
50,309 52,652
53,576 83,600
53,989 112,094
75.179 140,620
1882.
1833,
2,012 7,053
753 5,13»
5,3.8 4,685»
2,780 5,688
985 3.321
1,438 5,026’
1.798 9,115
10,144 9,875.
24,231 22,754.
29,681 37,728
52,108 69,761
83,093 113,003*
tag-The imports into Continental ports this week have been
1*7,000 bales.
’ The above figures indicate an increase in the cotton in sight
to-night of 361,546 bales as compared with the same date of 1882,
a decrease of 123,835 bales as compared with the corres
The above statement shows—1. That the total receipts from the
ponding date of 1881 and an increase of 293,230 bales as com
plantations since September 1, in 1883, were 220,498 bales; in
pared with 1880.
1882 were 173,978 bales; in 1881 were 353,375 bales.
A t the I nterior T owns the movement—that is the receipts
2.—That, although the receipts at the out-ports the past week
f o r the week and since Sept. 1, the shipments for the week, and
96,819 bales, the actual movement from plantations wa»
the stocks to-night, and the same items for the corresponding were
113,009 bales, the balance going to increase the stocks at theperiod of 1881-82—is set out in detail in the following statement: interior
towns. Last year the receipts from the plantations for
» hj 3 fi) g œ a g o f>
the same week were 88,093 bales and for 1881 they were 140,620
h 2 WWf fc-"-dfedtzj $ Q 2 c fo (s-O tSo
bales.
2. p ® ^
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W e a t h e r R e p o r ts b y T e l e g r a p h .—There has been rain
ilfS fF ä
in almost all sections of the South during the week, and theQ
prolonged drought has at last been broken everywhere. I n
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Texas in particular the rain is very welcome, but it probably
2 d ! *►.
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comes too late to benefit cotton. Picking has made very
satisfactory progress, with some slight interruption by sterms.
in a few districts o f Texas.
MM
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Galveston, Texas.—It has rained splendidly on one day o f
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the week, but we need more. The rainfall reached one incR
and fifty-six hundredths. There have been general rains
throughout the State, very beneficial to general interests, but,,
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so far as advised, doing neither harm nor good to the cotton
w © w ©tc © m ooV© co oo a a o w o V o i
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crop. Picking is making good progress generally, but in a
MWCHK>M©MQ0MCHM©M*3©CHCOCHCH
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few sections it has been interfered with by the storm. Thethermometer has averaged 81, the highest being 89 and theMM
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lndianola, Texas.—W e have had hard rain on five days of~
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the week, the rainfall reaching two inches and eighty-six.
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hundredths. W e are now getting more rain than we want,,
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but no serious damage has been done. Picking lias been
OOM0505CH^aMÜ»OÖ5 CO<1w <|© m CH©
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interfered with by the storm, but only partially. The ther
© 00© CHM© © K>© M•*©©©MMQ0©^
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mometer has ranged from 69 to 88, averaging 80.
Dallas, Texas.—We have had very welcome rains on tw o
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days of the week, the rainfall reaching one inch and. fiftjr
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hundredths. Picking is progressing finely. The thermometerM»-00©©*JÜHCM<lCH 00«) CH© CHM© 00
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has averaged 77, ranging from 57 to 96.
Brenham, Texas.—It has rained on two days of the week,,
doing immense good to everything but cotton, wliicn is be
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thermometer 79, highest 93 and lowest 63. The rainfall
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reached two inches and forty-six hundredths.
Palestine, Texas.—W e have had hard rain on three days o f
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the week, the rainfall reaching one inch and seventy-five
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hundredths. The rain was very welcome, but too late to helpcotton. The thermometer has averaged 77, the highest being:
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91 and the lowest 62.
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Huntsville, Texas.— W e have had delightful showers on
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three days during the week, and the indications are that they
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* This year’s figures estimated.
extended over a wide surface. The rainfall reached one in ch
The above totals show that the old interior stocks have in and ninety-three hundredths. The rain ean hardly help cot
creased during the^ week 12,360 bales, and are to-night 37,246 ton, but helps everything else. The thermometer has ranged,
bales more than at the same period last year. The receipts at from 61 to 95, averaging 78,
|||g £ ----
S e p t e m b e r 22, 1883.]
THE (MEONICLE.
Weatherford, Texas.— W e have had rain on one day of^ihe
week but not enough to do much good. The rainfall reached
three-hundredths of an inch. A good shower is wanted.
T ick in g is progressing f nelv. The thermometer has averaged
76. ranging from 59 to 93.
,
B elton, T ex a s— Delightful showers extending over con
siderable surface have visited this section on three days of the
week, the rainfall reaching one inch and thirty-four hun
dredths. The rain is too late for cotton. Good progress is
being made with’picking. Average thermometer 80, highest
96 and lowest 63.
Luting, T e x a s — W e have had rain on two days of the
week, the rainfall reaching fbur inches and ninety-nine hun
dredths. The long drought has broken up with a great flood ;
such a rain has seldom been seen in this section. Picking has
been interfered with by the storm, but strange to say no
serious damage has been done to open cotton. Farmers and
ranchers are at last comforted. The thermometer has aver
aged 81, the highest being 98 and the lowest 64.
New Orleans, L o u isia n a —It has rained on two days of
the week, the rainfall reaching twenty-three hundredths of
an inch. The thermometer has averaged 80.
Shreveport, Louisiana.—W e have had generally cloudy
weather during the week. Almost one inch of rain fell ^n
the 15th inst., it being the first good rain in nearly three
months. The total rainfall for the week was one inch and
twenty-nine hundredths. The thermometer has ranged from
64 to 95.
Vicksburg, M ississip p i—It has been showery on two days
o f the week, the rainfall reaching seventy-seven hundredths
o f an inch. Picking is* making good progress, but planters
are holding on to their crop on account of the delay in
ginning. The thermometer has ranged from 63 to 93, aver
aging 77. • ■■ .
M eridian, M ississippi.—Telegram not received.
Columbus, M ississippi.— W e have had a drizzle on one day
o f the week, the rainfall reaching but one hundredth of an
inch. Many planters report that with favorable weather
picking will be about finished by the fifteenth of October.
There is literally no top crop. Drought and rust have caused
rapid opening. The thermometer has ranged from 59 to 94,
^averaging 79.
Little Bock, A rk a n sa s—It has been cloudy on two days of
the week, with rain on one, and the remainder of the week
lias been clear and pleasant. The rainfall reached ninety hun-dredths of an inch. The thermometer has averaged 72, the
highest being 86 and the lowest 60. |
Memphis, Tennessee.—W e have had light sprinkles on two
«days of the week, the rainfall reaching seven hundredths of
an inch. Picking is general, and making good progress
throughout this section. Average thermometer 72, highest
D2, lowest 58.
Nashville, Tennessee.—W e have had rain on one day of the
week, the rainfall reaching forty-nine hundredths of an inch.
<Jrop accounts are less favorable, drought having cut off the
top crop. The thermometer has averaged 73, ranging from
«59 to 89.
Mobile, Alabam a.—W e have had light showers on two days
o f the week, the rainfall reaching twelve hundredths of an
inch. Picking is progressing finely, but planters are holding
o n to their crop. The thermometer has ranged from 69 to 92,
■averaging 80.
M ontgomery, Alabam a.—The weather has been warm and
•dry during the week, with very light rain on two days, the
rainfall reaching eight hundredths of an inch. Cotton is all
open and picking makes excellent progress. Picking in this
section will be nearlv finished next month. It is estimated
that cotton will be short fully one-third and perhaps more.
The crop is being marketed freely. The thermometer has
averaged 75, ranging from 66 to 90.
Selma, A la b a m a —It has rained on one day of the week,
and the remainder has been pleasant. The rainfall reached
thirty-six hundredths of an inch. The thermometer has aver
aged 77, the highest being 89 and the lowest 65.
Madison, Florida.—It has rained on one day o f the week,
-and the remainder of the week has been pleasant. Crop
accounts are less favorable. Planters are sending their crop
to market freely. The thermometer has ranged from 68 to
i90, averaging 80.
Macon, Georgia.—It has rained on one day of the week,
and is now cloudy. Picking is making good progress and
planters are marketing their crop freely.
Columbus, Georgia.—It has rained severely on two days of
th e week, the rainfall reaching two inches and forty hun
dredths. The thermometer has averaged 80, the highest being
86 and the lowest 75.
,
Savannah, Georgia.—W e have had rain on four days of the
week, and the remainder of the week has been pleasant. The
rainfall reached one inch and eighteen hundredths. Average
thermometer 74, highest 83 and lowest 69.
Augusta, Georgia.—The weather has been cool and pleas
ant during the week, with light rain on three days, the rain
fall reaching sixty-two hundredths of an inch. . Picking is
making good progress, and the crop is being marketed freely.
The thermometer has averaged 74, ranging from 63 to 86.
Atlanta, G eorg ia — Telegram not received.
.
Charleston, South"C arolin a —W e have had ram on four
days of the week, the rainfall reaching fifty-six hundredths of
an inch. The thermometer has averaged 75, the highest being
83 and the lowest 68.
^
The following statement we have also received by telegraph,
325
showing the height of the fivers at the points named at 3 o’clock
September 20, 1883, and September 21, 1882.
Sept. 20, '83. Sept. 21, '82.
Feet. Inch.
New Orleans ............. Below high-water mark 12
1
Memphis............... ....A b ove low-water mark.
3
5
Nashville............................... Above low-watermark.
0
-5
Shreveport..... ........... Above low-water mark.
2
7
Vicksburg.............................. Above low-watermark.
5
10
Feet. Inch.
12
0
11
5
4
0
9
4
13
0
New Orleans reported below high-water mark of 1871 until
Sept. 9,1874, when the zero of gauge was changed to high-water
mark of April 15 and 16,1874, which is 6-10ths of a foot above
1871, or 16 feet above low-water mark at that point.
India Cotton M ovement from all P orts.—We have rearranged
our India service so as to make our reports more detailed and
at the same time more accurate. We had found it impossible
to keep out of our figures, as cabled to us for the ports other
than Bombay, cargoes which proved only to be shipments from
one India port to another. The plan now followed relieves us
from the danger of this inaccuracy and keeps the totals correct.
We first give the Bombay statement for the week and year,
bringing the figures down to September 20.
B O M B A Y R E C E IP T S A N D SH IP M E N T S F O R F O U R Y E A R S .
Shipments this week.
Shipment* since Jan. 1.
Great Conti
Year Great Conti
Total.
Brit’n. nent. Total. Britain nent.
t '
Receipts.
This'
Since
Week. Jan. 1.
1883 . . . . . . 5.000 5.000 445.000 784.000 1.229.000 4.000 1.551.000
5.000 5.000 740.000 600.000 1.310.000 4.000 1.619.000
1882
1881 2,000 6.000 8.000 304.000 542.000 816,000 3.000 1.158.000
1,000 356.000 483.000 839,000 1.000 1.080.000
1880 1.000
According to the foregoing, Bombay appears to show the
same receipts during the week as last year, the shipments
for the week are also the same as in 1882, and the
shipments since January 1 show a decrease of 111,000 bales.
The movement at Calcutta, Madras and other India ports for the
last reported week and since the 1st of January, for two years
has been as follows. “ Other ports” cover Ceylon, Tuticorin,
Kurrachee and Coeonada.
Shipments since January 1.
Shipments fo r the week.
Great
Britain.
Continent.
C alcutta500
1883........
1 8 8 2 ......
300
Madras—
1883........
2,500
1 8 8 2 ......
All others—
1 8 8 3..
....4,200
1382........
Total a l l 1 8 8 3..
18 8 2..
. . . .4,700
. . . .2,800
Total.
Britain.
Continent.
Totali
500
300
84,700
105,700
10,800
32,000
95.500
137,700
3,000
13,500
56,900
1,000
500
4.600
14.500
61.500
200
4,400
33,400
43,000
6.600
26,700
40,000
69,700
200
500
4,900
3,300
131.600
205.600
18,400
63,300
150,000
268,900
The above totals for the week show that the movement from
the ports other than Bombay is 1,600 bales more than same
week last year. For the whole of India, therefore, the total ship
ments since January 1, 1883, and for the corresponding periods
of the two previous years, are as follows.
E X P O R T S TO E U R O P E F R O M A L L IN D IA .
1882'.
1883. .
Shipments
to all Europe
from —
This
week.
Since
Jan. 1.
This
week:
Since
Jan. 1.
1881. i
This
week.
Since
Jan. 1.
All other ports.
5.000 1,229,000
4,900 150,000
5,000 1,340,000
3,300 268,900
8,000
100
T ota l.........
9,900 1,379,000
8,300 1,608,900
8,TOO,11,036,600
ADIS la st atatcxucxiu
a
846,000
190,600
,, t j T0 ----- r ----------------
total movement for the three years at all India ports.
•
A lexandria R eceipts and S hipments .— Through arrangements,
we have made with Messrs. Davies, Benachi & Co., of Liverpool
and Alexandria, we now receive a weekly cable of the movements
of cotton at Alexandria, Egypt. The following are the receipts
and shipments for the past week and for the corresponding week
of the previous two years.
Alexandria, Eoypt,
September 20.
Receipts (cantars*)—
Tbis w eek....
Since Sept. 1
1883.
400
400
Since
This
week. Sept. 1.
Exports (bales)—
To Liverpool...........— ......
Total E u rop e......
* A cantar is 98 lbs.
1882.
Since
This
week. Sept. 1.
...... ........
1881.
"
7.COO
7,550
This
Since
week, Sept. 1.
1.000
98
1,500
98
1,098
1,598
"
This statement shows that the receipts for the week ending
Sept. 20 were 400 cantars and the shipments to all Europe
were------bales.
Manchester M arket .— Our report received from Manchester
to-night states that the market is dull but pretty steady, at
unchanged prices. We give the prices of to-day below, and
leave previous weeks’ prices for comparison,
ONIC LE.
1883;
32« Oop.
Twist.
July 20
“ 27
Aug. 3
p ‘ 10
Ü “ 17
“ 24
“
31
814 lbs.
Skirtings.
d.
d. ft. d.
¡14 ® 9
81i ® 9 _
q ® 9
® 9
814; ® 9
¿¡q ® 9
1882.
OoU’ n
Mid. 32« Oop.
Tipi Is lwist.
d.
»Sie® 876
Sept. 7 i^ie® s 78,
“ 14 *q ® 87s 5
“
21 814 ® 87s 5
J J u te B utts , B a g g in g , &c -T h e r e has been a fair amount o f
Oott’
t^ansacted during the past week, and the market is
Mid.
TTplds steady in tone, holders maintaining prices, and no shading is
8I4 lbs.
Shirtings.
d.
9*2 tfr 10
99i6®loq
9*3 ®10%
5“ lC 9% «10*8 6
97ts® 97s 6
553 933
® 9 7el6
51% 938 ® 9 78 6
5UU 938 ® 9 78 6
51316 938 ® 978'6
513, 938 ® 97a!6
[V ol. XXX VI I.
u I onfcheA
Pai’cels moving, but on around lot a shade less
? £ h f.beÄ /npK
eJ 0se t,he W « o h s are 9c. for %% i f f ,
^ l or 2i}^3, aQd l l c - f ° r standard quality.
th0Ug«h tUe lots are sma11’ and for spbt
Ilk S ih n Ä
r? her more ÜT n^ «town by.dealers, who areW
5 p to 2c\f° r paper grades, some 3,000 bales being placed
at tins figure, while bagging qualities are (juoted at 2y&@2%e.
d. s. d.
4Ie®7 lO1^
6
®8
0
6
6
6
®8
®8
®8
0
0
0
6 ®8 0
4^ ®7 lOifi
4ia® 7 I0!a
4 ^ ® 7 IOI3
4*2®? lo ia
dtffaTTv0 ^ EW3-—The exports of cotton from the United
oi o|? fci f i Z aStqWeerk,.aS
l “ *™1 m ail returns, have reached
Comparative P ort R eceipts and D a il y Crop M ovement .— ar« tv, a m
¿ar as
Southern ports are concerned, these
Kg comparison of the port movement by weeks is not accurate are the same exports reported by telegraph, and published in
as the weeks m different years do not end on the same day of
last M a y . With r?ga?d to K
York, we
tlie montn. We have consequently added to our other standing
Ä
o
m
is
m
Ä
f
,eS3eb
eleared
op
t0
Ttaraday
tables a daily and monthly statement, that the reader may
constantly have before him the data for seeing the exact relative Ne w ^ o r k —To L iv e r p o o l, per steamers Abyssinia, ± 1 3 6 Tolal balea*
movement for the years named. The movement each month
since September 1, 1882, has been as follows.
Monthly
¿Receipts.
Year Beginning September 1 .
1882.
1881.
Bept’mb’i 326,656 429,777
October.. 980,584 853,195
Kovemb’i 1,094,697 974,043
Decemb’r 1,112,536 996,807
January . 752,827 487,727
February, 595,598 291,992
March... 482,772 257,099
April.. „. .284,519 147,595
May....... 185,523 113,573
June......
78,504
68,679
July.......
42,299
36,890
August...
58,386
45,143
Corrot’ns.
24,837
17,844
1880.
1879.
1878.
458,478
968,318
1,006,501
1,020,802
571,701
572,728
475,582
284,246
190,054
131,871
78,572
115,114
123
333,643
888,492
942,272
956,464
647,140
447,918
264,913
158,025
110,006
88,455
54,258
67,372
42,714
288,848
689,264
779,237
892,664
616,727
564,824
302,955
166,459
84,299
29,472
13,988
18,081
458
1877.
To Hull, per steamer Marengo, 750 .
....... .....................
N?mesfs, 2®847 am6rS Ameri<l ue’ 2 ,1 1 6 .,..Canada,'064.‘..'"
To Bremen,"per stea m ed NecikrV 695V /;.W erra; 661
l ’ tS Z
To Hamburg, per steamers Bohem ia, 7 6 8 ....C a lifom ia V 7 5 0 1,35&
.-..G e lie rt, ^additional) 1 5 6 ....W estohaliii. 750
o <o<
....... ............ 2,qna
XT„ To A ntw erp, per steamer W ae8landr300
N e w O rleans —T o H avre, per steamer Dee, 2,998 ................... * <2 qq »
G alveston T o Vera Cruz, per schooner Marion H Band i ” 150 1’ 100
98,491
578,533
822,493
900,119
689,610 'J j-iM Br®mer“ >Per steamers America', 2 Ö Ö ' 6 ’liio" 1 40» ......... I ’ fino
p P r??^ T ^ ,7 LlVe7 P t0-1’ per steamer Missouri, 2 9 0 . . . . . .
*
‘
1’ f o o
472,054 P
h ilad el ph ia —To Liverpool, per steamer B ritish Princess','5 1 4
51 4
340,525
............................|
M
J
..................
...............
.—
T
o
t
a
l....
197,905
96,314
42,142 fo m ?a ?e^ Cfouiwsf theSe ^Pmeuts. arranged in our usual
20,240
Liver
Bre- MamAnt- Vera
pool. Mull. Mavre. f j g f i burg.
34,564
werp. Cruz. Total.
New York. 8,615
750
5,927
52,595 N. Orleans.
000 Q 1,356 2,424
300 — -*• 19.372
2’998 .........
.................. .
2,998
Totalyear 6,019,738 4,720,364 5,874,090 5,001,672 4,447.276 4,345,645 Galveston..
Baltimore..
2,403
src’tage of tot. port
::::::
1
Ä
1’150
1-150
4,003'
Boston......
200
200
receipts Aug. 31.. 9962
10000
9915
Philadelp'a
99-99
514
98-79
514
Corrections............. 00-33
00-00
00-85
00-01
01-21
T ota l;.. 11,732 ; 750 8,925 2,956 2,424
300 l',150 28,237
Total port receipts.. 100-00
100-00
10000
100-00
100-00
CR
aE
r7o966iVerP001’ Per 8teamers
. U°°
Below we add the clearances this week of vessels carrying
This,statement shows that up to Aug. 81 the receipts at the
7ear were L299,374 bales more than in 1881-82 and fa t^ m a ild a t11^ ^ Sfcafcesporfc3v bringing our data down to the
145,048 bales more than at the same time in 1880-81. The
receipts since September T, 1883, and for the corresponding NE'7 ^ RtTEANS~ J 01l L,i verpool_ SePt- 1 8 - Steamer Legislator, 2,779.
Denoos nf Hi«
1883.
S e p t.l....
2,765
“ 2 ....
8.
“ 3 .... \ 7,215
“ 4 __
3,996
If 5 ....
6,169
** 6 ....
4,969
“ 7.:..
8,194
“ 8 ....
8,143
f 9 ....
S.
“ 1 0 ....
13,920
H 1 1 ....
9,486
w 1 2 ....
8,038
“ 13...»
9,478
“ 1 4 ....
15,283
*f 1 5 ....
11,742
'* 1 6 ..,.
S.
. " 1 7 ....
21,869
V 1 8 ....
11,760
" 1 9 ..,.
15,19c
*' 2 0 ....
14,087
h 2 1....
22,166
i. ___i_______ ^
1882.
1881.
5,055
- 2,890
8.
5,868
3,396
5,636
4,493
6,405
6,405
S.
11,202
5,645
7,474
8,044
10,742
8,060
S.
16,598
9,606
12,733
13,039
5,600
10,356
10,182
S.
18,859
9,069
7;637
8,181
18,792
13,054
8. 16,595
17,797
14,674
10,870
21,062
16,364
8.
17,206
19,476
15,551
0
*
1880.
1879.
5,037
5,669
10,512
6,474
8.
14,754
9,315
8,616
11,096
10,862
15,646
8.
20,842
15,117
13,999
16,191
20,900
18,470
8.
30,306
20,049
3,490
1,348
1,391
2,264
4,927
2,104
8.
5,454
5,124
4,878
4,858
7,636
7,069
8.
15,628
12,21*5
12,995
14,071
14,955
17,082
8.
1878.
For Havre—Sept.^BO—Steamer Maharajah,-3,987.
Boston—Foi^lAver^ool—Sept. 14—Bteamer Samaria, 200....Sept, 18—
Baltimore —For Liverpool—Sept. 13—Steamer Mentmore, i,356 Sent.
l 7829teain| L ? o n a Scotian, 1,050... .Sept. 18-Steamer A le v J
_ 1,829....».Sept. 20—Steampr Gallego, 181.
For Rotterdam—Sept. 19—Steamer 8 tel la. 6100.
. s*5,708
4,051
Below we give all news received to date of disasters to vessels
4,799
4,224 carrying cotton from United States ports, &c.:
7,116 M entmore , steamer (Br.), before reported on Are at Baltimore while
in sf
« 3 ? 0l''PiTllo dama=.e sustained b y fire on the 10th
4,108
, D t s11®11*- . The Are was In cotton stowed in the main and
8.
w a t e r ^ PatcPes" A9ou': 50 hhds. of tobacco were damaged by
13,115
7,341
Cotton freights the past week have been as follows:
7.982
Satur.
Mon.
Tues.
8,627
10,714 Liverpool, steam d.
Do
sa41...d.
....
V"
8.
Havre, stea m ....e.
7i(>*
716*
716*
15,127
Do sail.. ...,c .
....
....
....
10,425
Bremen, steam, .c.
716*
716*
718*
10,032
Do
sail.......c,
•••>
....
....
11,125
3g*
Hamburg, steam.d.
3s*
36*
16,933
Do
sail,..#.
...3
••••
••••
11^302
Amst'd’m, steam, c.
t50
. 150
t30
ïotal....... 194,475 143,291 251,325 253,855 137,989
158,987
Do
sail...d!.
....
••••
....
Percentage of total
14*
14*
Baltic, steam .... d.
V
port reo’ Dti Sept. 21
02-38)
05-32
04-32
02-76
03-58
Do sail.........c.
....
....
....
This statement shows that the receipts since Sept. 1 np to Barcelona,steam.c. U16*
“ 16*
“ 16*
«8*
88*
to-night are now 51,184 bales more than they were to the same Genoa, steam ...d .
88*
day of the month in 1882 and 56,850 bales less than they were Trieste, steam ... e.
....
—
•—
to the same day of the month in 1881. We add to the table Antwerp, steam» &
----- 'J
« ...
*Compressed.
the percentages of total port receipts which had been received to
f Per 100 lbs.
September 21 in each of the years named.
N ew Y ork Cotton E xchange .— As all the houses which stood
©n the site secured for the erection of the new Cotton Exchange
have been pulled down, it appears more distinctly how large a
space the new building will occupy. Progress is being made
with clearing the ground.
The committee fo rs membership have posted the application
o f a new candidate.
The following visitors were introduced this week :
John M. Baker, Boston.
Samuel Simpson, New Orleans,
John A. Woodard, Mobile, Ala.
R. Solas, Savannah, Ga.
J. W. Eckford, Mississippi.
J. H. Athey, Mississippi.
J. H. Horton, Wadesboro. ‘
T- B. Henry, Wadesboro.
C. A; Young, Wilson, N. C.
David D. Hunter, New Orleans
Jas.H . Allen, New Orleans.
V. E. Burton, Petersburg, Ya.
John H. Bigelow, New Orleans.
Geo. M. Traylor, Atlanta, Ga.
H. Browning, North Carolina.
J. H. House, North Carolina.
J. P. Leach, North Carolina.
E. E. Cheathaw, G eorgia..
R. S. Gernon, Liverpool.
Kennedy Owen, New Orleans.
B. M. Priveth, Goldsboro, N. C.
J. C. Steele, Selma, Ala,
W. S. Briggs, North Carolina.
W. P. Sheppard, Eufaula, Ala.
Wednes. Thurs.
....
1532*
....
716*
....
36*
....
*6
....
1532*
7ie*
....
%*
....
/ . . . . j ••••
V
v
....
....
1516*
«16*
Bg*
68*
Sg*
V
3q*
Fri.
%
___
1532*
....
716*
....
mm .. '
lg*
___
«16*
< 89*
8e*
%*
L iverpool .— By cable from Liverpool, we have the following
statement of the week’s sales, stocks, &c.t at that port. W e
add previous weeks for comparison.
Aug.‘ 3l.
Bales of the week........ ..halesOf which exporters to o k ___
Of which speculators took..
Bales American........................
Actual export..... .....................
Forwarded.................................
Total stock —Estimated....... .
Of which American—Estim’d
Total Import ef the week........
Of which American..............
Amount afloat...........................
Of which American........... .
47,500
4,500
4.100
33,500
9,500
4,700
867,000
591,000
29,500
19,000
123,000
16,0001
Sept. 7.
Sept. 14.
65,000
11,500
2.200
48,000
6,000
5,700
831,000
548,000
29,000
6,700
106,000
23,000
70,000
11,500
5,000
46,500
12,500
5,900
783,000
511,000
24,500
14,000
104,000
23,000
Sept. 21.
66,000
1 7 ,5 0»
9,000
40,000
8,000
5,300
765,000
481,000
43,50»
12)00»
81,000
30,000
m e tone 01 tne Liverpool marKet ior spots ana tatares each
day of the week ending Sept. 21, and the daily closing prices
' of spot cotton, have been as follows.
Saturday Monday. Tuesday. Wednes.
Spot.
Market, ? Harden’g. Firm.
Quieter. Steady.
12:30 P.M.]
5!316.
5*3x6
51316
51310
Mid Upl’de
510x6
51&16
5*016
51516
Mid.Orl’ns
12,000
10.000
12,000
12,000
2,000
2,500
4,000
Bp80.<k exp. 2,000
lutures.
Market, \
12:30 p .m . ]
Market, ?
5 p . m. ]
Thursday.
Friday.
Mod. inq".
freely
supplied.
513x6
5.15J6
-8 ,0 0 0
1,000
51316
5i°ie
8,000
500
Dull.
Easier
Steady.
Flat.
Flat.
Dull
but
steady.
Quiet
but
steady.
Steady.
Steady.
Barely
steady.
Steady.
Steady.
Quiet.
^The opening, highest, lowest and closing prices of futures at
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
¡prices arc given in ¡pence and Qiths, thus: 5 62 means 5 62-6Id.,
and 6 03 means 6 3-64d.
Sat., Seiit. 15.
'4
September.
Sept.-Oct...
Oct.-Not....
Nov.-Dee...
Dec.-Jan....
Jan.-Feb....
Feb.-March
Mar.-Apr./.
April-May..
May-June..
June-July..
July-Aug...
Mon., Sept. 17.
d.
5 55
554
5 54
553
5 51
557
561
600
6 02
6 01
d.
5 54
5 53
5 52
552
5 53
5 56
5 60
5 62
6 01
6C4
d.
5 54
5 53
5 52
5 52
5 53
5 56
5 60
5 6J
6 01
6 04*
d.
5 55
5 54
5 53
5 54
5 51
5 55
3 61
6 00
6 03
6 05
d.
5 56
5 55
5 54
5 54
5 55
5 58
5 62
6 01
0 03
6 06
d.
5 55
5 51
5 53
5 53
5 51
5 56
56 i
0 00
6 02
0 05
d.
d.
5 56 5 53
554 5 55
5 54 5 52
5 54 5 55
5 54 5 55
5 57 5 59
501 5 62
6 00 5 61
6 02 6 04
0(6 0 07
5 51
5 50
5 52
5 55
5 53
5 61
6 00
6 04
612, 612 611
611
5 52
5 55
555
5 59
5 02
3 62
0 04
6 07
Fri., Sept. 21.
Open High Low. Clos. Opm High Low. Clos. Open High Low. Clos.
M
5 52
5 51
5 49
552
5 55
5 58
5 61
0 00
0 03
d..
5 51
5 52
5 51
5 49
5 52
5 55
5 58
5 61
6 00
6 03
d.
5 50
5 49
5 IS
5 48
5 49
5 52
5 55
5 59
5 62
6 02
d.
5 50
5 50
5 49
548
5 50
5 53
5 56
5 59
5 61
6 02
. d.
5 51
5 50
5 50
5 49
5 50
5 54
5 57
5 60
5 62
6 02
d.
5 51
5 50
5 50
5 49
5 50
5 51
5 57
5 60
562
6 02
d.
5 51
5 49
5 49
5 48
5 49
5 52
5 £5
5 58
5-61
6 02
d.
5 51
5 50
5 50
5 49
5 49
5 53
5 50
558
5 62
6 02
FLOU R.
So. 2 s p r i n g . b b l . $2 60®
No. 2 winter . . . . . ---- 3 00®
Superfine.................... 3 25®
Spring wheat extras., 4 00®
Minn, clear and stra’ t 4 75®
Winter shipp’g extras. 3 90®
Winter clear , and
stra ig h t.... . . . . — . 4 50®
Patents, spring.......... 6 50®
Patents, w in ter.... .. $6 4.0®
City shipping extras. 4 50®
Southern bakers' and
family brands ......... 5 25®
South’n skip’g extras. 4 0 0 3
Rye flour, superfine.. 3 75®
Corn meal—
6 25
Western, &c............ 3 10®
7 50
Brandywine, &c___ 3 45®
3 20
3 50
3 75
4 50
6 75
4 25
d.
5 51
5 51
5 50
5 50
5 51
5 51
558
5 61
5 63
6 04
d.
5 54
5 53
5 52
5 52
5 53
5 £6
5 59
5 62
8 00
6 04
d.
5 51
5 51
5 50
5 49
5 51
5 54
5 53
5 01
5 63
6 04
d.
5 54
5 53
5 52
5 52
5 53
5 56
5 58
5 01
6 00
6 04
7 2%
5 00
4 10
3 40
3 50
G R A IN .
Wheat—
Spring, per Bush.
9 5 ®1 10
Spring No. 2 . . . . . 1 0 6 @ 1 0 7
Red winter, No. 2
1 13 @ 1 1 4
Red w in ter........
90 @ 1 1 6
White----- , -------92 @1 10
White No. 1 .................... ® .........
Corn-West, mixed 58 ® 64
West. mix. No. 2.
62*23 63%
White Southern..
62 ® 65
Receipts at—
Corn—
Yellow Southern.
Western w hite...
Rye—Western.........
State & Canada..
Oats—Mixed..........
White........... . ......
No. 2 mixed. . . . .
| No. 2 w h it e ......
j Barley nominal.
61 3
60 @
67 @
74 @
33*2®
34 3
35
®
36
3
66
62*
71.
76
35%
43
35*%
36%
Chicago.......
Milwaukee..
Toledo........
Detroit. . . . .
Cleveland....
St. Louis ....
Duluth.......
Tot. wk. ’83
Same wk. ’82
Same wk. ’81
SinceAug.l—
1883./......
1882........
1881........
Com.
Oats.
Wheat.
Barley.
Rye.
Flour.
Bbls.imbs Bush.60 lbs Bush.56lbs Bush.32 lbs Bush.4Slbs Bush.56 lbs
993,790
142,381
257,068:
■45,106 - 1,027,203 2,768,768
9,61ft
19,445
95,865
10,340
138,688
37,158
41,471
132,612
8,015
793,868
3,320
102,193
990
18,976
216,383
2,571
32,400
1,000
14,800
114,600
2,761
206,031
19,966
251,380
15,318:
65S,768
41,900
41,490
353,560
13,800
201,240
7,700
992
275,130 * "34,876
10,000
274,002
331,55b
143,808 3,232,533 3,432.992 1,748,910
247,264
135,1ST
■ 150,039 3,096,574 1,288,558 1,139,832
401,834
923,025
159,656145,699 1,285,798 3,850,875
1.077,416 1.7,985,356 20.807,601 .11,825,593
1,003.885 19.0i8,5l2 9,812,293 10,623,038
1.168,229 12.701,375 30,065,151 5.812,400
F r id a y , P. M.; Sept. 21, 1883.
The -flour market has been fairly active for export, but the
home trade continues slow. Prices, in sympathy with wheat,
were somewhat depressed early in the week, but the decline
was not important nor general, and a steadier feeling followed.
The city mills have been especially active, as well as good
grades of Webern from winter wheat. The products of spring
wheat are in but small supply. . Rye flour aud* corn meal are
without change, and the trade not active. To-day the ten
dency was still upward aud the demand quite brisk.
The wheat market opened somewhat depressed, and on
Monday morning prices fell off rapidly under dull foreign
accounts and; unfavorable Western advices, but there was a
quick recover jp. The weather at the West has not been good,
and the English markets have improved. On Tuesday there
were heavy freight engagements for grain to Great Britain,
and altogether confidence in the future of values much im
proved. Stilly the advance has not been important. Stocks
continue large, and the marketing o f the new crop seems to
encounter difficulties that will take time to overcome. To-day
there was some further advance. No. 2 red winter sold at
$1 12@1 13 casn; and futures closed after 'Change at 8112%
for October, $115 for November, $117% for December, |l 19%
. for January and $1 21% for February.
Indian corn opened the week depressed, under the return of
mild weather in the West and Northwest; but speculation
revived, and there was a pretty fair demand for corn on the
spot. The weather, reports have latterly been less favorable,
and consequently the tendency of prices has been slightly
• upward, closing strong last evening on reports from Chicago of
the approach of a “ cold wave.” To-day, on frost accounts
from middle latitudes at the West, there was a further advance.
No. 2 mixed, 62%@62Mc , cash ; 63@64e. for October, 62%
@63c. for November, 60%@60%e. for December and 58%c.
for May.
Rye has met with a brisk'demand for export at 67% @70%c.
for Western, on the track and afloat. Oats have sympathized
with corn, and latterly have shown an upward tendency, with
moderate speculative activity and a steady trade. To-day the
tendency was still upward, with No. 2 mixed selling at 35%@
660.732 r 1,953,058472,243
619,646
1,072,576
878.82»
The comparative shipments of flour and grain from the
same ports from Dec. 25, 1882, to Sept. 15,1883, inclusive, for
four years, show as follows:
1882-83.
6,162,150
1881-82.
5,217,974
1880-81.
6,282,739
1879-80,.
3,248,761
W h eat..... bush. 29,884,326
Corn.................... 79,021,334
C a t s ................. 31,416,283
4.799,005
Barley................
3,921,774
R y e . . . . .............
35,733.801
51,341,723
25,849,537
2,307,365
1,926,627
39,297,911
. 84,214,649
26,370,607
2,466,126
1,419,257
49.283,046
98,012,08720,113,921
2,03O,939>
1,934,100-
Floor........... bbls.
Total grain . . . . 152,012,752
BREADSTUFFS.
7 00
5 50
The movement of breadstuffs to market is indicated in the
statements below, prepared by us from the figures of the New
High Low. Clos. York Produce Exchange. We first give the receipts at Western
Lake and River ports, arranged so as to present the compara
d.
d.
d.
tive movement for the week- ending Sept. 15 and since Aug, 1
5 56 5 53 5 53
5 55 5 52 5 53 for each o f the last three years:
5 51
5 50
5 52
5 55
5 58
5 61
6 00
6 04
Wednes., Sept. 19. Thuvs., Sept. 20.
September.
Sept.-Oct...
Oct.-Nov....
Nov.-Dee..
Dec.-Jan...
Jan.-Feb....
Feb.-March
Mar.-Apr...
April-Mayl
May-June..
June-July..
July-Aug...
35%c. for October, 36%@37e. for November, 38@38%c. ^for
December and 40e. for May;
The following are closing quotations :
Tnes., Sept. 18.
Open High Low. Clos. Open High Low. Clos. Open
d.
5 55
5 54
5 53
5 53
5 54
5 57
501
6 00
0 02
6 04
327
THE CHRONICLE.
September 22, 1883.]
117.159,053 153,763,550 171,374,143;
Below are the rail shipments from Western lake and rives
ports for four years:
F lou r..« . . ............... bbls.
Wheat..
Cora...,
......b a s h .
Rye.
1883.
Week
Sept. 15.
82,795
403,265
6 40',431
1,506,054
.10.3,454
84.732
2.798.533
1882.
Week .
Sept. 16.
- 128,711
1881.
1880i
Week
Week
Sept. 17. . Sept. 18.
115,417
104,504
504.996
684,814
301,63ft 1,126,992
728,859
991,320
147,611 .
90,633
50,130
76,416
2.144,913: 2,558,588
460,362r
514,232
747,618
135,894
56,130
1.914,236
The rail aud lake shipments from same ports for last four,
weeks were:
!
Week
Flour,
ending— bbls.
Sept. 1 5 ... 133,750
Sept. 8 ... 186.748
Sept. 1 ... 169,75 i
Aug. 25... 193,375
Wheat,
bush.
1,881,693
1,813.080
1,678.109
2,296,410
T ot.,4w ... 683,625 7.674,292
4w ’ks 82..671,712 8,561,054
Corn,
Oats,
bush.
bush.
3.187,683 1,842.282
3,701.558 1,620 066
3,299.196 1,697.918
1,975.674 1,362,604
Barley,
' bush.
103,454
43,768
14,817
9,623
Bye.
bush.
213,472:
354.807
177,983
261,854
522,900 171,662 1,008,096'
5,162,461 6, 588.087 168,882 357,853
The receipts of flour and grain at the seaboard ports for theweek ended Sapt. 15 follow:
>Corn,
Wheat,
Flour,
bushi
bush.
obis.
At—
New York . . . . ., 122,345 1,439,056 1,235.922
15,565 3-9,721
Boston......... . , 76,773
10,200
1,500
40,730 301,640
Montreal........... 13,016
36,620
Philadelphia..., 22,993 136,920
89.609
Baltimore........ , 13,544 532,437
4,000 118,616
New Orleaixs.... 13,253
Barley, Bye,
Oats,
bush. . bush::
bush.
713,300
........ 14.1,364t
181,730
2,050 il,0 0 @ 3,850
800 18,950
115
147,u50
7,200
500
......
4,270
51,800
23,437
Total week.... 263.424 2.168.708 2,152.323 1 ,121,285 10,050 166,084
Cor. week ’82.. 261,661 3,042,302 647,263 1,335.142 11,150 10,050>
The total receipts at the same ports for the period from
Dec. 25, 1882, to Sept. 15, 1883, compare as follows for four.
years:
F loor..... ..hbls.
1882-83.
9,388,238
1881-82.
7,921,653
1880-81.
9,123,467
1879-80;
7,057,268
88 ,270,598,
54,900,425. 71,456,945
Wheat. . . ..hush. 44.061,709
80,567.399 109, 174,419
23,971,018
63,976.163
Com........
16, 830,122
20,690',159
20,374,695
21,266,623
O a ts .....
1, 604,567"
2,037,556
2,307.050
Barley... . . . . . . . . 2,240,230
1,007,140
1, 359,914
T,0/9,727
3,227,764
R y e ......
Total grain .,..1 3 4.772,404 103,132,915 175,759,201 217, 239,61%
The exports^from the several seaboard ports for week e n d in g
jpt. 15, 1883, are shown in the annexed statement:
i 328
THE CHRONICLE.
Exports
from —
Wheat.
Corn.
Oats.
Bye.
Peas.
Bbls.
70,561
43,755
Bush.
382,112
. 22.880
Bush.
565,591
169,425
Bush.
693
75
Bush.
99,401
Bush.
205
12,704
7,946
6,810
770
251,366 189,489
160,893
519,608 . 133,013
2,935 112,286
8,525
Flour.
New York
Boston...
Portland.
Montreal.
Fhiladel..
Baltim’re
N.Orl’n s .
Total w’k.
B’me time
1832. ..
5,598
13,203
142,546 1,339,794 1,169,804
9,293
103,601
5,803
177.485 2,869.460
6.978
1 3 /7 0
4,246
99.810
The destination of these exports is as below. We add the
corresponding period of last year for comparison: *
Flour.
Exports
for week
to—
1883.
Week,
Sept 15.
Un.King.
Contin’nt
S.&C.Am
W. Indies
Brit. Col’s
Otli.e’nt’s
Total...
Oorn.
Wheat.
1882.
Week,
Sept. 16.
1883. | 1882.
Week,
TPee7c,
Sept., 15. Sept. 16.
1883.
Week,
Sept. 15.
1882.
Tyee7c,
Sept. 16.
Bbls.
106,545
1.781
5,509
20,133
8,578
Bbls.
Bush.
Bush.
109,969 1,025,550 1,424,865
; 14,588 314,244 1,441,531
9,568
28,123
14,430
809
3,014
Bush.
901,700
206,797
48,520
12,787
Bush.
47,833
24,545
13,340
13,104
14
974
142,546
177,485 1.339,794 2,869,460 1,169.804
99,810
By adding this week’s movement bo oar previous totals we
have the following statement of exports since September 1, this
season and last season.
Flour.
Exports since
18SS.
Sept. 1, to— Sept. 1 to
Sept. 15.
Wheat.
.1382.
Sept. 1 to
Sept. 16.
1883.
Sept. 1 to
Sept. 15.
Corn.
1882.
Sept. 1 to
Sept. 16.
Un. Kingdom
Continent...
S.&C. Am...
West Indies.
Brit. Col’nies
Oth. countr’s
Bbls.
260,756
9.138
25,939
40,936
47,770
1,244
Bbls.
360,330
47,337
40,351
55,727
42,038
1,763
Bush.
2,518,366
1,583,805
375
3,585
Bush.
5,410,391
4,268,878
Total. ...
385,783
547,546 14,111,111
1883.
Sept. 1 to
Sept. 15.
1882.
Sept. 1 to
Sept. 16.
13,821
Bush.
2,216,937
629,329
139,311
58.98S
3,182
8,55!
Bush.
47,833
24,545
34,791
21.291
5,145
1,136
9,693,090
3,056,248
134,741
The visible supply oi grain, comprising the stocks in granary
at the principal points of accumulation at lake and seaboard
ports, and in transit by rail and water, Sept. 15, 1883, was as
follows:
Wheat,
In store at—
bush.
New Y ork............ 5,378,4.12
Do. afloat (esc.)
A lb a n y................
2,700
545,073
Suflalo...............
Chicago............„„ 6,103,020
M ilw aukee......... 1,193,535
D uluth.......... . . .
344,076
1,693,492
Toledo.......... .
Detroit..............
228,993
Oswego... i . . .......
30,000
8t. Louis............... 2,256,190
Omcinnati (8tli)..
174,036
Boston..................
20,551
116,445
Toronto...............
M ontreal.............
127,953
P h ila delp h ia .....
745.933
P eoria..................
7,545
Indianapolis......
223.200
344,676
Kansas C ity..___
Baltimore ............ 2,579,594
Down Mississippi.
26,000
On r a i l . 554, 211
On lake..... ...........
472.109
On c a n a l........... 1,308,000
16,458
28,424
153,580
262,337
16,659
214,056
146.524
37,058
69,411
700
34,789
201,503
1.099
82,200
16,453
210,000
72,541
47,656
197,88.1
43,700
86.932
160,292
196,644
32.019
843,180 1,983,182
5,499,484 367,103
837,000
, 500
6,276
42,952
-346
74,740
1,165
17,105
15,078
. 1,824
30,517
25,244
82,531
81,660
70
341
31,199
6,204
49,260
15,100
118,043
103,158
222,563
249,633
§
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474,099 1,823,223
406,556 1,580,463
195,054 725,136
522,721 727,381
524,950 627.026
Im p o rta tio n s o f D ry G oods.
The importations of dry goods at this port for the week
ending Sept. 20,1883, and since January 1, and the same facts
for the corresponding periods of 1882, are as follows:
6 8 3 ,4 0 7
14,353,793 5,741.02
13,247,758 5,427.06,
6,705,689 6.157,091
21,483.970 6,720,36
17,303,970 1,484,59.
210,010
Rye,
bush.
* 45,525
69 000
29,500
34,307
697,703
30,683
2 ,2 5 0 , 9 3 1
-
24,476,349
23,514,992
13,636.830
20,146,473
15.419.9S5
86,932
121,577
8,616
Barley,
bush.
D omestic C otton G oods .— The exports of cotton goods were
only 1,564 packages, including 3*72 to U. S. of Colombia, 335 to
Brazil, 268 to Great Britain, 225 to China, 133 to Mexico, &c.
The coming week will, however, show a much more important
export movement, some heavy shipments to China having taken
place since the usual weekly table was compiled. There was a
more active business in low-grade brown and bleached goods,
and agents experienced a steady demand for relatively small
parcels of the best makes, while wide sheetings and cot
ton flannels were in fair request for the renewal of assortments.
Additional makes of low-grade plaincottons have been slightly
advanced, as have a few of the better corporation goods, and
altogether there is a much firmer undertone in the market.
Print cloths were active and dearer, closing at 3 ll-16e. for 64x
64s and 3 5-16c. for 56x60s. Prints were fairly active, and the
best fancies, indigo-blues and shirtings ruled very firm,in sym
pathy with print cloths; but it is a buyers’ market for indiffer
ent styles of fancy prints. Ginghams ruled quiet iu agents’
hands, but a good, steady trade was done by jobbers.
D omestic W oolen G oods .—The activity of the wholesale
clothing trade was reflected in a steady call for duplicate
parcels of heavy cassimeres, &c., at first hands, and while the
demand was chieflv of a hand-to-mouth character, a fair aggre
gate business was done in this connection. Spring worsteds
were in good request, and some makes are already under the
control of orders to the extent o f the season’s production.
Light-weight cassimeres and suitings have met with more
-attention, and liberal orders were taken for popular makes by
traveling salesmen. Jersey cloths were very active, and fair
sales of ladies’ cloths and cloakings were effected by agents.
Satinets were rather more sought after, and there was a light
business in .Kentucky jeans. Flannels were in pretty good
demand, and stocks are so well in hand that prices remain
steady. Blankets were taken in small lots to a slightly
increased amount, but selections were mostly restricted to a
few specialties. All-wool and worsted dress fabrics continued
in good demand, and some makes of the latter have been
slightly advanced iu first hands. Carpets were freely dis
tributed by jobbers, and moderate dealings were reported iu
hosiery and knit underwear.
F o reign D r y G oods .—The week has witnessed a very fair
movement in certain kinds of imported goods. Medium and
fine plain silks were in fair request and velvets, satins and
ribbons commanded considerable attention.' Staple dress fabrics
and novelties in fancy dress goods were fairly active, and there
was a moderate inquiry for ladies cloths, cloakings and men’swear woolens. Linen goods were in fair demand, and there
was a st-ady, though limited, call for white goods, laces and
embroideries.
¡2 , 9 3 4 , 3 3 8
Tot. Sept. 15/33.
Tot. Sept. 8 .’83.
Tot. Sept.16,’ 82.
Tot. Sept. 17, ’81.
Tot. Sept. 18 /80 .
Oorn,
Oats,
bush.
bush.
1,286,186 1,818,289
292,000
98,000
43,500
98,200
1,035,959
31,107
2,785,511 524,922
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[ Value.
$
578,220
362,726
971.783
315,736
182,544
Although there has been a slight re-action from the extreme
activity noticed of late iu the'jobbing branches of- the trade, a
very good business was done by most of the principal jobbers
the past week, and a moderately increased demand for dupli
cate assortments was experienced by commission houses and
importers. Ih e brisk movement that has been in progress
during the last few weeks has imparted a much better tone to
the market, and holders of merchandise are much firmer in
their views, while- some descriptions of cotton goods, dress
fabrics, prints, &e,, have already been subjected to a slight
advance. Accounts from ail the Western and most of the
Southern markets are exceedingly favorable,and it is more than
probable that the September business at nearly all the chief
centres.of distribution will prove to be large beyond precedent.
There is, however, no tendency toward speculation on the part
o f either wholesale or retail buyers, and operations are being
conducted in a most conservative manner, in-spite of the prob
ability o f enhanced prices for qertain fabrics in the near
future.
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