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AMERICAN
RAILROAD

NEW YORK

V. 55. 1882

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.; Steam Navigation, Commerce, Finance, Banking, Machinery? Mining, Manufactures.

Sboons Quabto SKBits.— Vol. XXXVIII., No. 1.]

NEW YORK, JANUARY 7, 1882..

fWHOLE No. 2.388.— Vol. LV.

Fullman

Cars Between
Brighton.

London and

Bad as was the weather there was as repect-

able gathering of ladies and gentlemen, the

former predominating, at the early hour of 10

A. M., at the Victoria Station on Monday to try

i,,: the new train service of Pullman cars that day

'■^'- to. be inaugurated between London and its

,' fashionable suburb, London-super-Mare. A

■ good deal of curiosity seemed to be created by
- the cars, but that was owing to the fact that
"V our particular train was to consist of 4 Pullman
/ cars, and nothing else. At the head is the
; "Victoria," which is a parlor and refreshment

■ car of a non-alcoholic character, social arrange-
ments being requisite for those thirsty souls

^ who cannot stand the fatigue of a journey to
Brighton without something in the shape of
alcoholic liquor. But such unhappy people
must be rare, as, so far from traveling in the
Pullman car being a fatigue, it may be describ-

you can wash your hands, or titivate your per-
son. If you travel with servants or luggage
there are compartments for them both, and if
you require the service of an attendant you
have only to touch a knob and he appears.
The ordinary first-class fare to Brighton and
back is seventeen shillings and sixpence. By
the Pullman car the charge is one pound. To
any one'to whom money is no object — and that
is the only class of visitor for whom Brighton
kills the fatted calf and wreathes her face in
smiles — the extra half-crown for the car is well
laid out, and I doubt not but that the train
will be a great success, as. indeed, it deserve*
to 1 A uur little trai ct

Monday," observed one, who evidently knew,
" was £20,000 ;" but as the train runs four
times a day, and may be expected to fill well,

that sum, it must be owned, was not badly laid
out.

But the chief novelty of~the train is the elec-
tric lighting. The carriages in the day-time are

ed as quite the reverse. You sit in a velvet | iiot lighted at all ; but, suddenly, just before

arm-chair, and if you take your place in Lon
V don, an hour and a quarter or twenty minutes
-after you rise from it to find yourself in Brigh-
•• ton ; having all the while, as it were a moving
panorama of town and country, villages of pleas^
•ant mansions, of green fields right before your
very eyes. In summer it must be very pleasant
to stand on the little landing-places between
each car, and thus, when so disposed, to enjoy
the benefit of traveling in the open air. This
car, at the door of which we stand, the *• Vic-
toria," is the principal one. It has twenty-six
seats, and a low counter for tea and coffee and
light refreshment. There also are the daily
papers on sale, besides there is a letter-box,
barometer and thermometer. On each side
there are little tables where you can write or
,.; refresh yourself according to your wish. If we
resume our exploration we find ourselves in the
"Beatrice," or drawing-room car, the hand-
some velvet chairs of which on the present oc-
casion are handsomely furnished with ladies,
so that there is not a seat to spare, and how-
ever disposed we may be to stop and chat, we
are compelled to keep on moving, while the
ladies study the latest novel, or, with agile
fingers, do their daily round of crochet work.
Further on we arrive at the " Louise," another
drawing-room car. On our tour of inspection
we note that every provision has been made for
the want^ of the traveling public. There are
retiring rooms, rather Liliputian, it must be

ou enter a tunnel, there comes down on you a
eautiful and soft light of the most exquisite
haracter. For that numerous class of Her
.ilajesty's faithful lieges, who when on a jour-
ney are always wanting "to stretch their legs
a-bit," the Pullman Limited Express offers
many advantages, as you can walk up and
down, from Dan to Beersheba— that is, from
the smoking car at one end to the drawing-
room car at the other -as often as you like.
Howtvei, the traveler requires s§a 1-^ , ^o
that part of the business comfortably, if not
he had better sit in his armchair at ease. The
light, it may be as well to state, for the benefit
of the scientific or curious reader, comes from
thirty-four of Faure's accumulators in the
guard's apartment. The magazines of electric-
ity are supplied by an engine and dynamo
machine in the Victoria Station. In time it is
expected the train will store up electricity for
itself by the working of a dynamo machine
attached to the axle of the engine. But enough
of science. As a matter of fact, the Brighton
Company's Pullman car is as near perfection as
can be imagined, and I look forward to the time
when such cars shall run no longer for the
benefit of the wealthy or luxurious, but for all
decent people who have to take a railway jour-
ney. A little while ago I had to travel in a
train which was bearing a real live London
Mayor to a provincial town. I rode second-
class, as befitted my humble circumstances,

owned, but, nevertheless, big enough, in which J, and the consequence was I had the pleasure of

the company of a couple of his lordship's ser-
vants. It was a low, villanous carriage, and a
disgrace to any company, and so it seemed to
his lordship's servants. "Jem," said one of
them to the other, as he bent his haughty head
to enter a compartment, "these carriages
weren't built for the likes of you and I." I
can only add, as a last word of praise for the
Pullman Limited Express, that in one of these
carriages even a Lord Mayor's servant may
enter without being compelled to submit to the
indignity of a stoop. — Christopher Crayon, in
London Christian World. . . i
^ ' 1 ■

The - ylvania Railroad Comx>any'8
Improvements in Jersey City.

The straightening of the cut through Bei
Hill, at Point of Bocks, Jersey City, which was
commenced in 1879, by the Pennsylvania Rail-
road Company, is now nearly completed. Whemy
the road was first constructed the engineers^
for the saL.e of economy, made three heavy
curves. To straighten these curves the cut
had to be widened in some places to 110 feeL
Two of these curves have already been removed*
and the third will be finished in a few weeks.
The straightening of the cut, the engineers es-
timate, will afford a saving in time of about
five minutes to e-ach train, besides the great
amount of wear and tear to the rolling stock.
Four tracks will be laid through the hill in
place of the two now used; two for freight, and
tw** ■ ■• osenger trains. The roadbed is bal-> .
las.. iih broken stone, and is accuratetjrv
graded with concrete gutters on each sid*. -'
Handsome terraces have been formed on each
side of the rpad, upon which, in the summer,
will be planted flowering plants and vin«s.
The new tracks are also being laid from ths
cut to the Hackensack River. A bridge at this
point will be widened in the spring so that the
four tracks can be laid upon it. The new pier
at the foot of Sussex street, Jersey City, which ;
the Pennsylvania Railroad has been building
for the Wilson Steamship Line, is nearly com-
pleted. The pier is 500 feet long and 150 feet
wide. It is two stories high and covered with \
corrugated iron. A double track for freight ''
cars extends to its extreme end, the tracks be-
ing sunk just far enough below the flooring of
the pier to allow the sills of the cars to be on a
level with it. The lai^est steamship can lie
alongside the pier, and with the aid of derricks
can be loaded directly from the cars. The
floor of the pier lies on two layers of heavy

174178

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AMERICAN RAILROAD JOURNAL

timbers which cross each other diagonally and
are fastened together with heavy bolts.

Philadelphia and. Keading Companies.

The following is the comparative statement
of the Philadelphia and Keading Railroad Com-
pany and the Philadelphia and Reading Coal
and,Iron Company for the month of November,
1881 and 1880 :

1881. •

GROSS HECEiPTS. t^ofit for TWO. Year to date.

RaUroad traffic *880,7-27.37 *8.411,996.09

Canal traffic 98,445.42 439,468.62

Steam colliers 37,789.87 287,770. 3'2

Richmond coal barges 302.81 2,710.64

Total Railroad.Co 11,017,265.47

Beading Coal & Iron Co. . . .\ 228. 1H2 .38

Total of all ?1,

TONNAGE A PASSENGERS.

Tons of coal on railroad

Tons of merchandise

Passengers caiTied

Coal transp by stm colliers. ..

TONS OF COAL MINED.

By Coal and Iron Company. .
By tenants

245,447.85

Month.

825,766.12

754,699.04

869,391

44,912.00

421,391.09

148,025.05

$9,141,945.67
1,199,445.12

$10,341,390.79

Year to date.
8,072,142.05
6,815,234.17

10,561,853
555,253.00

3,937,607.12
1,484,992.16

Total mined from lands owned
and controlled by Co. and

from leasehold estates 569,416.14 5,422,600.08

1880.

OBOSS RECEIPTS. Profit for mo.

Railroad traffic j806,720.61

Canal traffic 119,550.34

Steam colliers 36,633.89

Richmond coal barges 1,742.90

Year to date.

$7,945,392.78

455,826.66

223,589.32

2,444.15

$8,627,252 91
546,283.66

$9,173.5^0.57

Year to dale.

7,179,398.13

5,885,080.0(1

9,822.422

545,600.00

3,460,464.03
1,235,642.10

Total Baib-oad Co $964,647 . 77

Reading Coal & Iron Co 172,328.02

*«

Total of aU $1,136,975.79

TONNAGE A PASSENGERS. Month.

Tons of coal on railroad 769,394.09

Tons of merchaudiee 475,681 .08

Passengers carried 774,145

Coal transp by stai colliers 46,683.00

TONS OF CO.VL MINED.

By Coal andilron Company. . . . 393,861.14
By tenants 138,919.15

Total mined from lands owned
and controlled by Co. and
from leasehold estates 532.781.09 4,696,103.13

The gross receipts of the Railroad Company
for the month of November were : from railroad
traffic. $1,789,908.70 ; from canal traffic, $151,-
829.89 ; from steam colliers, $64,242.77 ; from
Richmond coal barges, $9,607.79— total, $2,-
015,589.21, and the expenses $998,323.74, leav-
ing net earnings, as stated above, $1,017,265.47,
against $964,647.77 for the month of November,
1880, an inerea.se of $52,617.70. The gross re-
ceipts of the Coal and Iron Company for the
same month were $1,482,790.40, and ♦he ex-
penses,$l, 254, 608.02, leaving net earnings $228,-
182.38, against $172,328.02 for the same month
last year, showing an increase of $55,584.36.
The profit of the Railroad Comjiany, for the
year ending November 30, 1881, was, as stated,
$9,141,945.17 and of the Coal and Iron Compa-
ny $1,199,445.12, a total for both companies of
$10,341,390.79 — being a gain, as compared with
the year 1880, of $1, 167,854.22. From the profit
must be deducted the debit balance of renewal
fund, $218,999.75 ; State tax on capital stock,
$70,502.48 ; all rentals and full interest on all
outstanding obligations, including floating debt,
whether paid or not by the receivers, $8,709,-
854.79; also, full interest on all outstanding ob-
ligations of the Coal and Iron Company, other
than those held by the Railroad Company,
whether paid or not by the receivers, amount-
ing to $1,158,777.63, making a total of $10,158,-
134.65 — leaving the surplus of both companies

'_■>

for the year ending November 30, 1881, $183,-
256.14, against a loss of $1,209,980.17 in the
previous year, a gain of $1,393,242.31. Of this
surplus $142,588.65 goes to the credit of the
Railroad Company, and $40,667.49 to the credit
Coal and Iron Company.

v\V

Finances of Pennsylvania.

AccoKDiNG to the report of the State Treas-
urer, just issued, the receipts into the Treasury
of the State of Pennsylvania, for the fiscal year
ending November 30, 1881, (including $1,815,-
046.90 balance from thfe previous year) were
$8,816,829.33, and the disbursements (including
$421,801.60 of loan redeemed) were $6,926,810.-
20 ; leaving a balance on hand December 1,
1881, of $1,890,019.13. The total debt of the
State at the close of the year was $21,140,888.-
05 ; of which $164,388.05 is non-interest bear-
ing. The Treasurer says : —

The increase of revenue over the estimates
made at the commencement of the fiscal year
jiist closed has entirely relieved the Treasury
from the heavy floating indebtedness existing
at that time, and at the same time has enabled
the department to meet promptly every obliga-
tion falling due during the year. Such is the
improved financial condition of tat Common-
wealth that it is an important que.'-'^ioi. whether
the time has not arrive' ... x important

industries should be 'Telie^'etl from some of
their heavy burdens o_ j,xation. The most
careful estimates warrant the belief that a less
amount of revenue than the present laws pro-
duce will be sufficient to meet all the necessary
requirements of the Government in the future.

The ordinary revenue of the State for the cur-
rent fiscal year is estimated by the Treasurer
at $6,015,000 ; and the expenses at $5,261,593.

■^^

New York, Lake Erie and Western R. R.

The following is an abstract of the report of
the New York, Lake Erie and Western Railroad
Company for the fiscal year ending September
30, 1880:

Common stock, 78,000,000; preferred stock,
8, 536, 900. Earnings — from passengers, $4, 041 , -
267.03 ; from freight, $15,979,576.61 ; from ex-
press, $384,346.42 ; from mails, $167,459.56 ;
from rents, $44,464.66 ; from miscellaneous
sources, $85,792.05 ; from car service, $12,698
85 ; from ferries, $607,757.48 ; from interest on
securities, $235,962.24; from sterling exchanges,
$586.24~total,$21, 559,91 1.14. The total charges
against the earnings are $19,672,493.40, leaving
a surplus for the year of $1,887,417.74. There
was a net increase in the expenses over those
of 1880, as shown by the balance she

130.851.05. 1 ' . .•

- ■\- ■■■' '-■- . .-■•

■ . ['■■ ■".■■■-. :vp •■- V • DEBIT. -■ .. '■■

Construction main line, $2,340,657.55 ; third
rail, general account, $218,898.20 ; equipment,
$766,061.84 ; real estate, $387,388.37 ; amounts
expended out of special fund for third rail, $1,-
207,429.20 ; second track, $1,067,053.64 ; third
track, $2,942.40; grading, $1,507.55; real estate,
$6,127 ; right of way, $2,250 ; improvements at
Buffalo, $141,504,60 ; engine-house at Bergen,
$36,556.59 ; equipment, $396,376 ; elevator at
Buffalo, $203,973.16 ; ship basin and docks at
Jersey City. $98,938.55 ; Lehigh docks at Buf-

falo, $126,713.72; Weehawken docks, construe,
tion, $27,890.20; Blake's docks at Buffalo, $89,-
865.98; New York and Fort Lee Railroad, $25,-
346.45 ; improvements at Union Stock Yards,
Fortieth street. New York City, $8,298.43; Buf-
falo and Southwestern Railroad improvement
account, $52,205.20; amount paid on account of
equipment, $1,667,851.88 ; stock in other com-
panies, $734,490.49; bonds of other companies,
$273,819.60 ; amounts due on current accounts,
$2,565,415.50 ; supplies, $1,206,181.13; cash on
hand, $77,150.32 ; cash in London to pay cou-
pons, $23,713.42 ; bills receivable, $34,666.69 ;
discount on common stock, $269,675; estate of
Erie Railway Company, $151,210,930.63.

CREDIT.

Common stock issued to this date, $76,943,-
100 ; preferred do., $7,632,200 ; funded debt,
$67,165,665.95; loans payable, $58,500; interest
on funded debt, due and accrued, $1,109,530.70;
renewals, leased lines, $360,581.40 ; amounts
due, pay rolls, $709,331.52 ; audited vouchers,
$1,548,079.19; traffic balances, $644,080.39, sun-;
dries, $127,325.38 ; assessments on common ■
stock of Erie Railway Company ($4 per share),
$2,791,424; interest on assessments received on t
stock of Erie Railway Company and interest j
and profits on investments, etc., $376,197.35 ;
profit and loss, $5,798,556.26.

Canadian Form of Government.

Canadian school text-books which undertake
to describe our form of government will short-
ly need to be changed to read after this man-
ner : "A limited responsible government con-
sisting of a Governor-General responsible to
the Crown with an Executive Council respon-
sible to the people's representatives ; a Legis-
lature composed of a Senate appointed by
the Governer-General-in-Council and a House
of Commons elected by and responsible to the
people, and a Syndicate (to govern the carriage
of goods and passengers through, in and out of
the country), responsible to its own stockhold-
ers." The same definition, with slight changes
of names of ruling bodies, will also apply to
each of the several Provinces. In addition to
the great Syndicate— the octopus of the West —
we have the Quebec Government eagerly look-
ing for a syndicate to take over its valuable
railways. The railway system of Nova Scotia
seems to be already within the clutches of a
syndicate headed by Baring Bros., ba ' t-rs, of
London, and the Prince Edward Islai crs are
asking to have their lines thrown into i.L*j b<uut>
hands. Amalgamation of the great Ontario
lines into big monopolies fills the air with
rumors. New Brunswick has one of its leading
lines owned by members of the Pacific Syndi-
cate, and has a network of railways under vari-
ous management in course of preparation,
doubtless, for the maw of either an existing
syndicate or one that will arise.—Montreal Daily
Witness.

As a party of gentlemen and ladies were
climbing to the top of a high church tower one
hot day, a gentleman i-emarked, •♦ This is rather
a spiral flight of steps." To which a lady re-
joined, "Yes, peispiral," and she wiped her
brow as she spoke.

':h

ii^^j^i^imi&^siSJii'.--^ J;iii&-£i

AMERICAN RAILROAD JOURNAL.

i PUBLISHED WEEKLY BY THE I ;^T ; '

AMEBICAN RAILROAD JOURNAL CO.,

. , At 23 Liberty Street, New York.

Subscription, per annnm, in advance $5 00

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Purchases for the American Ratlkoad Joubnai. Co. are
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Treasurer; and the Company will not be responsible for
the payment of bills unless accompanied by such order.

Subscribers are requested to report to our office any
irregularity in receiving the Joubnal.

Contributed articles relating to Railroad matters gen-
erally. Mining interests. Banking and Financial items.
Agricultural development, and Manufacturing news, by
those who are familiar with these subjects, are especial-
ly desired.

Payments for advertising and subscriptions should be
made by check payable to order of the Treasurer.

BRANCH OFFICE J
53 De-ronshire St.« Boston, Mass.

Mr. Fbbdebic Aloab, Nos. 11 and 12 Clements Lane,
Lombard Street, London, E. C, England, is the author-
ized European Agent for the Joubnal.

New York, Saturday, January 7, 1892.

Entered at the Post Office at New York Citjf at SecondrClau
Mail Matter.

RIVAL SEAPORTS AND THEIR
FOREIGN COMMERCE.

AMONG other interesting and original
features of tlie report of the Chief of
the National Bureau of Statistics recently
issued, is a carefully prepared statement
of the relative magnitude and growth of
the foreign commerce of the cities of
Boston, New York, Philadelphia, Bal-
timore and New Orleans. The interests
of these fine cities, which are the most
important of our seaports, are so closely
connected with the internal commerce of
the country and the development of re-
sources in widely extended localities that
the information given concerning their
foreign commerce is of peculiar value at
this time when attention is turned in such
a marked degree to, the study of this sub-
ject and the influences effecting the relative
conditionof certain shipping points. The
great interest shown of late in the South-
; western and Gulf traffic gives a special
\y value to figures showing the position oc-
; vcupied by New Orleans, the chef outlet
for the great Mississippi water route,
" The facts as given in the report, it
should be remembered, are not intended
to furnish any indication of the relative
ma<»nitude of the total commerce of these
several cities, but simply to show their
relative status with respect to foreign
, commerce.

A table is given showing the tonnage

■ of vessels entered in the foreign trade at

the cities mentioned each year during

the twenty years ended June 30, 1880,
from which it appears that the total ton-
nage of the five ports in 1856 was 3,353 -
392; in 1860 3,696,376; in 1870 4,917,.
856, M'hile in 1880 it had increased to
12,613,664. The percentage of the ton-
nage for each port in 1856 was for New
York 50.15 per cent, Boston 20.34, New
Orleans 19.77, Philadelphia 5.17, Balti-
more 4.57. In 1880 the percentage stood,
New York 60.34 per cent, Baltimore 11-
92, Philadelphia 11.03, Boston 10.68 New
Orleans 6.03. From this brief compari*
son it will be seen that New York has
gained in relative pre eminence over the
other four cities, and that Philadelphia,
Boston and Baltimore have been brought
comparatively to a nearly equal footing,
while New Orleans takes the position of
the weakest among the rivals Had the
domestic or coast tonnage entered into
this comparison New Orleans would
doubtless have made a much different
showing. A statement is given showing
the relative growth of the tonnage entered
at the port of New York, and at the other
ports mentioned during the five years
from 1856 to 1860 inclusive, as compared
with the five years from 1876 to 1880,
from which it appears that there has been
an increase in the tonnage entered at New
York in the latrter period of five years of
212 per cent, and an increase ol 124 per
cent in the tonnage entered at the other
four ports, the increase at New York
amounting to 19,682,089 tons, and that of
the other ports combined 10,385,346.

Notwithstanding the relatively small
amount of tonnage shown by New Orleans
a table giving the values of the exports
from these five cities during the twenty-
five years shows that in 1880 the value of
the exports from New Orleans was greater
than any of the above ports excepting
New York. The value of the exports for
1880 were from New York $388,441,664,
New Orleans $90,249,874, Baltimore $76,.
220,870, Boston $58,023,587, Philadelphia
49,612,195. From a comparison of the
value of domestic exports during the two
periods of five years ended June 30, I860,
and June 30, 1879, there appears to have
been an increase during the latter perjod
Of 225 per cent in the value of the exports
from New York, and an increase of 71 per
cent in the value of the expyorts from the
other four ports mentioned. The increase
in the value of the domestic expoiis from
New York amounted to $1,150,638,046,
and the increase in the value of such ex-

ports at the otner ports amounted to only
$457,512,633.

During the two periods of five years
ended June 30, 1860, and June 30, 1880,
there appears to have been an increase
during the latter period of 74.2 per cent
in the value of imports at New York, and
an increase of 14.4 per cent in the value
of the imports at the other ports referred
to. The increase in the imports at New
York amounted to $772,224,535, and the
increase in the value of the imports at the
other porte amounted to $62,529,028.

The comparison made between a period
of five years before thawar with a period
of five years since the war is especially
desirable as it indicates traffic uninter-
rupted by blockades and other disturbing
influences of war times. In all of these
figures the strength with which New
York maintains her supremacy in foreign
commerce over rival ports is strikingly
illustrated. There is little doubt, how-
ever, that changes will be made in the
relative positions of some of these ports
within the next few years. There has
been in fact an apparent change during
the past year not indicated of course in
this report made up only to June 30,
1880. The increase in the Mississippi
river traffic witnessed during the past
year has had no inconsiderable effect
upon New Orlean's importance as a ship-
ping point. BostoH meanwhile has expe-
rienced an unusual activity in her ship-
ping interests, stimulated by her greatly
improved railroad connections with the
West via the Hoosac Tunnel route and
other lines recently established and pro-
posed. The improvements in terminal
facilities which are being made on the

South Atlantic coast as well as further
North and on the Gulf, are indicative of
changes anticipated concerning the cur-
rent of ocean traffic.

^ ■

Pneumatic Engine.

" "VlK-*-^";*! ' >*■ ^ .rl"

An official trial of the Pneumatic Engine was
made on Tuesday, December 27th, by order of
Ck>l. F. K. Hain, General Manager of the Ele-
vated Bailways. The trial was made on the
Second Avenue, from 127th street to South
Ferry. The train consisted of four cars. The
engine at htarting was chained with air under
600 pounds pressure. The machine has stood
the test of 750 pounds pressure. The inventor,
Mr. Hardy, who was engineer, said that he
wanted to be on the safe side. Col. Hain, H.
L. Grant and other officers and stockholders
were on the train, but it was run as a r^;ular
passenger train. The train arrived at South
Ferry about two minutes late. Col. Hain said
that the second trial was much more successful

AMERICAN RAILROAl) JOURNAL.

;

thaiT'the first. Better time was. made; and,
whereas on the first trip only 150 pounds pres-
sure remained at the end of the trip, on the
second there were 190 pounds pressure, enough
to run the engine alone back to Sixty-seventh
street. Col. Hain said that the trial was a suc-
cessful one, but some mechanical difficulties
would have to be overcome before the placing
of pneuinatic engines on the elevated railways
could be considered.

The motor, which was built at the Baldwin
Locomotive Works, does not differ from an or-
dinary steam motor to the eye of the unobserv-
ing traveler. Instead of the usual boiler, how-
ever, four large air reservoirs are used, three
feet in diameter, made of steel half an inch
thick and having a tensile strength of 75,000
pounds. These reservoirs contain 4(J0 cubic
feet of air compressed to 600 pounds to the
square inch, and are all connected, the only
advantage of four reservoirs over one large one
being a better distribution of gravity. By run
uing the triple riveted seams around the boilers
spirally instead of longitudinally it is claimed
that the strength of a solid steel tube is ob-
tained. The air, heated by 240 degrees f^hren-
heit by passing through hot water, and moist-
ened that it may act as a lubricator, passes
into the steam chest at a pressure of 120
pounds, which is regulated by reducing valves
and safety gauges. In running down hill or
coming to a stop the cylinders can be converted
into air pumps, storing away energy that will
act as a spring in starting the engine ; while
by the turning of a valve and reversing the
lever the cylinders will work as air-bi^akes.

PERSONAIi.

Jay Gould has been elected President of the
Wabash, St. Louis and Pacific Railway, in the
place of Solon Humphreys resigned.

Hen'b-s C. Wextwobth, for 20 years General
Passenger Agent of the Michigan Central Rail-
taod, died, at Chicago, on the 28th ult. .

Robert A>n>ESSON has been elected Superin-
tendent of the Western and Atlantic Railroad,
' ia place of Wm. McRae resigned. Joseph M.
Brown has been made General freight agent.

F, D. UsDEKwooD has been appointed Super-
inteiident of the Southern Minnesota division
<$i &e Ciicags>, Jlslwaakee a&d St. V&ni Rail-
way. . .

T. W, Fredkricks, Superintendent ot the car
department of the Pardee car and machine
works, at Watsontown, Penn., has resigned his
position.

A. B- Wood, has "beeu appoiuted assistant to
General Manager C. W. Smith, of the Chesa-
peake and Ohio Railway with his office in
Richmond. ' v

died in Philadelphia, on the 20th nJt, aged 53
years. He was wf-U-kso>S'ii in connection with
railroad matteTs iiv the 'West and South.

HssBX FiSK has been appointed manager of
the confederated Jiaes of the Cole system, viz:
the Shen&adoah Valley, the Norfolk and West-
em, and the East Tennessee, Virginia and
Georgia with headquarters at Lynchburg,

Tbx CaBftda and Atlantic Railroad Company

lias appointed Walter Shanly, Chief Engineer
of the Company, The portion of the line be-
tween High Palls and Goteau, it is expected,
will be opened for pasjsenger and general traffic
on the 10th inst.

The Governor of Vermont has appointed
Hon. Sitmael M. Gleason, of Thetford, Hon.
Albert Dwinell, of Calais, and Col. Mason S'
Colburn, of Manchester, as a State Board of
Listers to appraise railroad property under an
act of the Legislature passed at its last session.

Col. Wm. M. Wadlky has been re-elected
President and W. G. Raoul, Vice President of
the Central Railroad Company of Georgia. In
the election for directors four new members
were chosen, viz : Messrs. Alexander, Phintzy,
Falligant and Maclean. The election changes
in a measure the policy of the company, and
will insure the issuance of income bonds of the
Ocean Steamship Company, and declares a

dividend
stock.

of 4^ per cent on certain common

CONSTRUCTION.

the

Six miles of track had been laid on
Georgia Pacific Railroad up to the 3d inst.

The Northern Pacific Railroad was completed
on the 2oth ult., to the Rosebud river, the scene
of the Custer Massacre.

Th£ grading on the extension of the San
Luis Ohispo and Santa Maria Valley ^Railroad
between Arroyo Grande and Central City, Cal.,
is progressing rapidly and satisfactorily to all
concerned, and will be completed in three or
four weeks. *

The Shenandoah Valley Railroad Company
has established a bureau of construction, with
headquarters in Philadelphia, and Mr. Julius
C. Holmes, a prominent and enterprising West
Virginia contractor, has been appointed chief
of construction.

The Vicksburg and Ship Island and the
Memphis and Vicksburg railroads have leased
600 penitentiary convicts from the Mississippi
State Board of Public Works, which are to be
divided between the two roads and put to work
near Vicksburg.

A DISPATCH from Dover, N. H., says that
owing to dissatisfaction at the existing freight
rates on the Eastern and Boston and Maine
Railroads, it is proposed to build a branch line
of railroads, six miles in length, connecting
with the Rochester and Nashua Railroad.

The San Diego Union says that about 37 miles
of the California Southern Railroad have been
completed. Thqre are 57 bridges, the largest
being 65 miles feet high and 250 feet long.
The heariest gcade is 116 feet, and the deepest
cBt 40 l&ei. • , . . •

The Missouri Pacific Railroad commenced to
send out cars to Waco, Texas, on the 1st inst.
The line will also be completed to Taylor,
about 80 miles beyond, where connection will
be made with the International and Gt. North-
ern Railway.

A CHARTER has been obtained for a narrow-
gau^ railroad to run frc m the line of the Buf-
falo, New York and Philadelphia Railroad at
Aurora, New York, Southeast to Williamsport,

Pa, Work will be commenced on the road as
soon as possible. "" ' ^" ?^ -: ^i^; / 1

Work was commenced on the 2d inst., at
Meridian, Miss., on the New Orleans and
Northeastern Railroad, owned by the Erlanger
syndicate. It is claimed that when this road
is completed it will greatly shorten the route
between New York and New Orleans.

The first locomotive ever seen in Newfound-
land is busily engaged ballasting the new rail-
way at the St. John's end, a mile of which was
completed up to Dec. 14th. The road was
finished for a mile and a half at the Harbor
Grace end up to the 10th of Dec, and opera-
tions were being rapidly pushed.

Connection was made between the St. Louis
and San Francisco Railway, and the main line
of the Atchison, Topeka and Santa Fe Railroad
at Halstead, Kansas, on the 2d inst. The ex-
tension from Wic*hita to Halstead, just com-
pleted, is about 25 miles in length, and passes
through a rich country.

The new Fergus Falls and Black Hills
Branch of the Northern Pacific Railroad, 64
miles from Wadena, on the main line, was
opened for business on the 28th ult.. At the
latter point the branch connects with the St.
Paul, Minneapolis and Manitoba Railroad. The
work toward the Black Hills from Fergus Falls
is being pushed ahead vigorously. ^

The track of the St. Louis, Jerseyville and
Springfield Railroad reached Jersey Landing
on the 30th of December, and the Mississippi
river on the following day, thus practically se-
curing the subsidy of $100,000 and the right of
way provided the road reached the river in
1881. Soon Grafton will be reached when
$10,000 more of subsidy, will be secured. 1 . ,.

Connection has been made between the Dan-
ville, Olney and Ohio River Railroad and the
Chicago and Eastern Illinois ^Railroad thus
securing entrance to Chicago. The directors
decided to extend the road this winter to a
connection with the Louisville, New Albany
and St. Louis Railroad, and during 1882 to
complete the system to the Ohio river at Pad-
uca, Ky. t

The Mexican Government has accepted 191
kilometres of the Mexican Central Railroad,
and the line to San Juan del Rio, 116^ miles
from the City of Mexico, is now in operation.
San Juan del Rio has a popxdation lOof ,000.
The line is graded and masonry work com-
pleted for about 225 miles from the City of
Mexico. General Manager Fink says that the
line will be completed to Leon, 262^ miles,
Aug. 31, 1882.

The Louisville, New Albany and St. Louis
Air Line Railroad has been completed from Mt.
Vernon, to Louisville, Ky., with the exception
of a small gap between Mt. Carmel, III., and
New Albany, Ind., which will be finished by
the 1st of May. The original road, known as
the New Albany, Mt. Carmel and Alton railroeui
was projected 40 years ago by Gen. Wm. Pick-
ering, and the road was graded ready for the
track from Mt. Carmel to Albion, when the
work was suspended. It was among the first
railroads projected in the State of Illinois. j-

The new line to California via El Paso, Tex.,

■\ ..

.*W>iL. ^^.ik.*.

••^e?^-

:. ■■■.'i'.

AMERICAN RAILROAD JOURNAL.

composed of the St. Louis, Iron Mountain and
Southern railway, the Texas and Pacific railway
and the Southern Pacific railroad was opened
on the Ist inst. New palace sleeping cars, built
expressly for this line, leave St. Louis Union
Depot daily at 9 A. M., and run through to
Demiilg without change, where direct connec-
tion is made with the Southern Pacific's Cali-
fornia express, which has palace sleepers run-
ning through to San Francisco without any
change — only one change of cars from St.
Louis to San Francisco.

The route selected for the Canadian Pacific
Railway from Callendar to Prince Arthur's
Landing, North of Georgian Bay and Lake
Superior, instead of running in a Northwester-
ly direction towards Moose River and Long
Lake, as at first projected, will run from Cal-
lendar, North of Lake Nipissing, in a South-
westerly direction, to Spanish River, near Lake
Huron ; thence to Mississaga River ; thence
Northwest to Michipicoton River, skirting the
shore of Lake Superior to Pic, and crossing the
Red River at Red Rock ; thence, following the
shore of Lake Superior, to Fort William.

The Coal Trade.

The l«ading coal carrying companies make
the following reports of their tonnage for the
week ending December 24, and for the year to
same date, compared with their respective
amounts carried to the same date last year:

Week. 1881 1880

Reading Railroad 181,191 624.351 423.573

Qchuylkill Canal 27,655

Lehigh Valley 132.464 470.183 314.008

Delaware, Laekawanna and

Western 97,818 4,271 ,953 3,479,628

Shamokin 1.041,935 894.109

Central R. R. of New Jersey. . 94,235 4,382,763 3,735,609
United R. R. ot New Jersey. . 41,536 1.591,978 1,160.193

PennsylTania Coal 27.620 1.406,058 1,110,432

Delaware and Hudson Canal. . 81,442 3,581.781 2,002,807
Huntingdon and Broad Top

MounUin 498,282 403.557

Penn. and New York 31,766 109.632 81,309

Clearfield, Pa 45.284 2.364,169 1.711.098

The total tonnage of anthracite coal from all
the regions for the weak ending Dec. 24, as
reported by the several carrying companies,
amounted to 629,240 tons, against 349,681 tons
in the corresponding week last year, an increase
of 279,579 tons. The total amount of anthracite
mined for the year is 28,865,867 tons, against
23,931,541 tons for the same period last year,
an increase of 4,934,126 tons. The quantity of
bituminous coal sent to market for the week
amounted to 90,982 tons, against 66,503 tons,
in the corresponding week of last year, an in-
crease of 24,479 tons. The total amount of bitu-
minous mined for the year is 4,918,943 tons,
^gainst 4,303,403 tons for the corresponding
period l&6t yewr, an increase of §15,540 toss.
The total tonaage of all kinds of eoai for the
week is 720,222 tons, against 416,164 tons in
corresponding week last year, an increase ot
304,058 tons, and the total tonnage for the coal
year is 33,784,610 tons, against 28,234,944 tons
to same date last year, an increase of f ,549,666
tons. The quantity of coal and coke carried over
the Pennsylvania Railroad for the week end-
ing December 24 was 200,723 tons, of which
145,610 tons were coal and 55,113 tons coke
The total tonnage for the year thus far has been
9,017,167 tons, of which 6.651,276 tons were

coal and 2,365,891 tons coke. These figures

.-.-**.-.

embrace all the coal and coke carried over the
road east and west. The shipments of bitu-
minous coal from the mines of the Cumberland
coal region during the week ended December
24 were 43,518 tons, and for the year to that
date 2,197,715 tons, an increase of 135,000 tons
last year, No exact comparison can be made,
as the report for the last Saturday in Decem-
ber, is usually omitted, and a report made for
the 7, 8, 9, 10 or 11 days ending December 31.
The coal was carried to tidewatei: as follows :
Baltimore and Ohio Railroad— week, 34,658
tons ; year, 1,415,613 tons. Chesapeake and
Ohio Canal— week, 1,586 ton8; year, 505,339
tons. Pennsylvania Railroad— week, 7,067 tons;
year, 273,163 tons. The coal was brought from
the mines as follows: Cumberland and Penn-
sylvania Railroad — week, 33,984 tons; year, 1,-
903,428 tons. George's Creek and Cumberland
Railroad— week, 6,116 tons; year, 207,824 tons.
Baltimore and Ohio Railroad — week, 1,401 tons;
year, 67,293 tons. West Virginia Central and
Pittsburg Railway — week, 1,691 tons; year, 10,-
235 tons. The Reading Railroad shipment for
last week, ending December 31, was 134,900
tons, of which 31,500 tons were sent to and
28,000 tons shipped from Port Richmond, and
17,500 tons sent to and 18,900 tons shipped
from Elizabethport. — Phil. Ledger, Jan. 2.

Cincinnati Iron Market.

Office of E. L. Harpee <k Co.

Cincinnati, Jan. 3, 1881c

The inquiries during the past week have
been verj-^ numerous and a lai^e number of
orders have been booked. Business has been
better at this season of the year than it has
been for years past. A clean advance of $1.00
per ton has been realized on nearlj- all grades.
Stocks are light and the tendency is towards
still higher prices. The outlook for the New
Year is very promising for a good business.
We revise quotations as follows both for pro-
ducers and consumers. ..

We quote as follows :

FOtrNDBT.

No. Moa.

Hanging Rock Charcoal 1 29 50@30 75 4

Strong Neutral Coke 1 27 00rd28 00

American Scotch 1 26 50@27 00

OBEY FOBOE.

Neutral Coke 26 60@26 60

Cold Short 24 00@25 00

CAB WHEEL AND KAIXEABLE.

Hanging Rock Cold Blast 36 00^38 00

Warm Blast 30 00r<i32 00

Lake Superior 1 and 2 32 00/433 00

Lake Superior 3 to 6 34 00(336 00

Southern Car Wheel 36 00^40 00

Imports of Dry Goods at New York.

The Imports of Foreign Dry Goods at New
York for the month of December, were :

ENTERED FOR CONSUMPTION.

1879. 1880. 1881.

Manufs. of wool $869,921 $588,613 $969,304

Manufs. of cotton... 1,176,038 1,582,716 1,657,(»17

Manufs. of silk 1,297,807 1,283,844 1,871,421

Manufs. flax 797,847 630,436 764,564

Miscell. dry goods... 483,887 512,262 538,240

Total ent. for con- .

sumption $4,625,500 $4,597,771 $5,800,546

WITHDRAWN FROM WAREHOUSE.

1879. 1880. 1881.

Manufs. of wool $278,961 $384,889 $239,081

Manufs. of cotton... 396,281 235,541 ,246,025

Manufs. of silk 185,004 307,313 257.99'i

Mauufa. of Bax 298,012 280,042 204,056

Miscall, dry goods.. 129,709 200,298 110,900

Total withdr'n from

warehouse $1,287,967 $1,408,083 $1,057,054

Add ent. for con 4,625,500 4.597.771 5,800,646

Total throws os the

market $5,&1S,467 $6,<»5,85i f6,85T„600

, ENTERED FOR WAREHOUSING.

1879. 1880, 1881.

Mauufg. <sf wcMi 1275,712 $S85,S0i $341,660

Manufs. of cotton . . 365.180 530,733 321,061

Manufs. of silk 290,775 368,124 384,089

ManufB. of flax.... 316,398 291,059 191,046

Mis. dry goods 145,897 242,151 275[o98

Total ent, for ware-
house tl.393.9€2 fiJ37.968 $1,412,964

Add entered for con-
sumption 4,625,500 4,597,771 5,800,546

Total entered at port $6,019,662 $6,335,739 f7,3i3^450

The Imports of Foreign Dry Goods at New
York for the years 1879, 1880 and 1S81 were :

ENTEEED FOE CONSUMPTION.

1879. 1880, 1881.

Manufs. of wool. . . $20,773,785 $28,176,532 $24,536,605

Manufs. of cotton 18,813,862 26,211,471 25,087,821

Manufs, of Bilk 29,129,588 35,342.349 34.617 264

Manufs of flax.... 14,706.100 18,823,968 16.40l[383

Mis. dry goods 8,126,265 11,289,800 10,893,947

Total entered for

consumption . . . $91,549,600 $119,844,120 $111,537,026

A lADT was once asked why she always came
so early to church. "Because," said she, "it
is a part of my religion never to disturb the
religion of others." ;;>.vr ' i*- S ';i

New York Central and Hudson River
B.ailroad.

by
to
at

The following is the general balance-sheet of
the New York Central and Hudson River Rail-
road Company, as reported to the State Engi-
neer, and not contained in the statement recent-
ly published: j -

DEBPT.

Railroad Equipment — Cash expended
former companies and by this company
date, $110,000,216.90 ; certificates issued
time of consolidation in 1869 and afterwards
converted into stock representing additional
cost of road and equipment to the new com-
pany, $31,157,904 ; total, $141,248,120.90.

Ownership in Other Lines— Hudson River
bridges, $1,739,372.16; Dunkirk, Alleghany
Valley and Pittsburgh Railroad, $2,290,621.09 ;
Geneva and Lyons Railroad, $331,889.93 ; total,
$4,991,883.18 ; grand total, $146,240,004.08.
Real estate in New York and Troy, outside of
road, $1,173,500.36, advances on Harlem con-
struction account, $277,513.49 ; company's own
stock held, $184,200 ; stock in the Troy TJaioa
Railroad, $15,000 ; stock in Merchant's Des-
patch and Transportation Company, $730,575 ;
stock in Union Pipe lines, $22,749.80 ; stock in
the Pittsbui^ and Lake Erie Railroad, $100.-
000 ; stock in the New York Central and Niaga-
ra River Railroad, $28,100 ; stock and bonds of
the Syracuse, Oeneva and Corning Railroad,
$376,010 ; fuel and supplies on hand, $1,624,-
358.28 ; cash on hand, $248,913.87 ; station
balances, $864,776.52; connecting railroad
balances, $316,075.24; United States bonds,
$558,634.05 ; equipment on Harlem line, $404,-
394.22 ; sundry open accounts, $33,191,15 ;
grand total, $153,210,680.83.

'■'"■ -y/ '^: -)''"' y-' cbedit. ' ^ : V-'^'

Capital stock, $89,428,300 ; funded debt,
$43,473,033.33 ; unfounded debt, $5,556,682.81 ;
total, $138,458,016.14 ; balance, previous vear,
$13,216,847.98; surplus this year, $754,483.60 ;
premiums on bonds sold, $778,1^ ; profit from
sale of invested securities, $33.{]W ; total, $14,-
782,482.58. Debit— Internal revenue tax on
undivided profits for year ending September
30, 1869, $29,817.89. Total, $14,752,664.67;
grand total, $153,210,680.83.

■ M,.w\^mfm.m\^imivmj^VgtV. i^gi* .,^« fi^^j.i J(J iW^l.'-(JWip_»,4}|(|(5P|^p^5JP^^

AMERICAN RAILROAD JOURNAL.

■■ • '• . •," '; ' .■■■. 1 ' '■» '

Kew York Stock Exchans^

J (Thnnday's quotations follow monej article.)
Cloting Price* for the week ending Jan. 4.

Th.29. r.30. S»t.31. M. 2. TU.3.W.4.
Adams Express 146

Albanj and Susq 130

1st mortgage

mortgage

90X

92>i

98 Ji
9-iH

625f
98 Ji

91)^
ll8>i

100
61

89?i

107>i 107
92 >^ 92

90^

6\y,

90 ?i
118M

91?i
113

26?i 26 .... 28 25>i
131 128% 129 Ji

133 134)^

American Express.

Atlantic k Pac. Tel

Burl,, C. R. ft Nor SIX

Ist mortgage 5e.. 100

Canada Southern . . 52^
Ist mortgage guar 98^

Central of N. Jersey 91 3S^

1st mort. 1890

7b, consol. ass

7s,eonTertiblea8S

7s. Income

Adjustment 107^

Central Pacific 91 >i

6a, gold

1st M. (San Joaq)

IstM. (Cal. & Or.)

Land grant Cs ... 105

Chesapeake k Ohio. 25%

Chicago and Alton. 130

Preferred

Ist mortgage 122

Sinking Fund

Chi., Bur. h Qnincy 13C% 136% 136^
7s. Consol. 1903

Ohl.. Mil. * St. Paul 106% 107 ?i 106 >i 104% 106%

Preferred 119% 120% 119% 119% 119%

Ist mortgage, 8«. 133%

2d mort., 7 3-108 120

7s, gold

1st M. (La. C. dlT)

IstM.I. AM.diT.)

Ist.M. <L & D. ext.)

IstM. (H.&D.div.) 117 Il4x

, l8tM.(C.&M.dir.) 125 110

Coasoltdated S. F. 123% 123%

ChL*5rortliw«»ter» 126 126% 125% 124.^ 125%

Preferred 139% 140 138% 137 138

l*t la&rtfag* IIQ IIQ

• Sinking Fund 6b 109

Consolidated 78 131

Coasoi. Gold bo'ds 124 123%

Do. r^g 124 123

Chi., a. rsl. 4 Pac. 133 132% 132% 131% 131%

8»,1917, c 130 126*,

CleT.,CoI..Cin.&rnd. 84% 84 83% 81 82%

Isfc mortgage

Olev. & Pittsburg gr

7s, Consolidated

4th mortgage ....

Col..Chi..&lnd.Cent. 21% 21% 21% 20 20%

1st mortgage

2d mortgage

Del. « Hud Canal. 108 108% 107% 107% 107%

fleg. 78,1891

Beg. 78.1884 .103%

78, 1894

Del. ,Lack.& Western 127% 127% 127% 125% l26%

2d mortgage 78

?«, C<JS«oi. 18^7

ErieBailway

let mortgage

Sd m'srt. 5e, est I06x

. 3d mortgage 106 106

4tb mort. 5s. ezt

5th mortgage.,

7b, Consol. gold 129% 129% 129%

Great West. Ist mort

2d mortgage

Hannibal & St. Jo. , 95% 95% 95 95% 95

Preferred 113% 113 ll.i% 109% 10-J

88, Convertible

Houston h Tex. Gen 85 •

lat mortgage .

Illinois Central... 131 131% 130% ....^ 129%_129_%

LakeShoreftMichSo 115% 116% 112%x 110 ^112%

. Conscl. 7s 134%

' Conaol. 78, reg... 126

2«» Consolidated 12j%

Leh. A W. B. 7b, Con

Long Dock bonds..

LouisTiUe A Nash. 101% 101% 101% 98'^ 99

7s. Consolidated

Manhattan 64% 54% 54 63% 50

Met. Elerated 85% 86% 86% 84% 87

1st mortgage 103 103 103 100 99%

Michigan Central.. 87% 87% 86 .... 83% 86
7s, 1902 124 124

JJKa O* vC ^1 • X* XBwf Oa f ••••• ••■•• ••••• ••■■• ••••« •••••

Morris A Essex 121% 121% 120% 121%

1st mortgage

2d mortgage .

7sof 1871 122%

7s, Oua>ertibIe.. .

7s, Conso'.uated . 123«i 123%

M-\[.Oen.AHud.B. 131% 132 131 129% 130%

ll.l.I'. iat9 103%

106

118% 115x 115

40%

99%

6s, S.r., 1887

1st mortgage 138 ....

Ist mortgage, reg

N. Y. Elevated 106 J^ 106

1st mortgage

N. Y. A Harlem 205

Preferred

iBt mortgage

Ist mortgag^, reg

K.Y., Lake Erie AW 41% 41%

Preferred 90% 91

2d Consolidated.. 100 99%

New 2d 58 fund . . 97%

N.Y.,N.Hav'nAHart 172

North Mo. Ist mort 123

Northern Pacific... 37% 37% 36%
Prelerred 76% 77% 75%

Ohio A Mississippi. 36 .37% 36%

Pretercl.

2d mortgage

Consolidated 7s

Consol. 8. Fund 120

Pacific Mail S. S. Co 41% 42 41

Pacific R. R. of Mo

1st mortgage 107%

2d ihortgage... .. 113 llOx

Panama

Phila. A Beading.. 69% 69 67% 65% 66%

Pltts.Ft.W.&Chi.gtd 134% 134%

Ist mortgage

2d mortgage

3d mortgage

39 40^

84 82%

98% 99%

170%

35% 35%

73% 75 J^-

35% 34%

J 9% 40%

Pullman Palace Car 123 135 135

Quicksil'r Min'g Co 12% 13

Preferred 59% 69

St. Louis A San Fran 39% 41% 41

Preferred 58 58% 60%

Ist Preferred 104 104%

. . 47

132 133

60%
105

58%

St. L., Alt'n A T. H.

Preferred

1st mortgage

2d mort. pref

Income bonds. 102%

St. L., Iron Mt. AS

Ist mortgage 116% Il7

2d mortgage 108

Toledo and Wabash

Ist mortgage 108

2d mortgage 109

7s, Consolidated

St, Louis Division 107% 108 ....

Union Pacific 116% 117% 116% 115 116%

Ist mortgage 117% 117% 117% 114%x

Land Grant 78... 113%

Sinking Fund 88

United States Ex... 77% 77 77 76%

Wabash, St. L. A Pac 36% 3S 37 34% 36

Preferred "68% 70% 68% 66% 68%

New mort. 7s

Wells-Fargo Ex 129%

Western Pacific b'ds

Western Union Tel.
78, S.F. con v., 1900

FsoEBAL Stocks : —

U.S. 4s. 1907, reg... 117H .....^ 117% 117%

U. S. 4b, 1907, coup. 118% 118% 117% 117%

U. 8.4 %8, 1891, reg 114%

U.8.4%8.1891,coup 114%

U. S. 6e, 1881, reg

U. S, 5e, cont'd at3% 103 103% 1 )2% ioi ji

U. 8. 68cont'dat3}.i 101% 101%

Dt. of Col. 3-658, reg

Dt.ofCol.3-65s,coup 109

79% 80% 79% 77% 79 Ji

Boston Stock Exchange.

Pricet for Ike Week Ending Jan. .4

Th.29. P.30.Sat.31. M.2. Tu.3. W.S.

Atch.,Top.ASan.Pe. 94% 94% 94% 93% 93%

1st mortgage 120

2d mortgage

Land Qrant 7s. 117% in"

Boston A Albany.. 161% 164 162%

7s reg

Boston and Lowell 106

Boston A Maine 149

Boston A Providence 161

Bo8'n,Hart.A Erie7s 68% 69% 69 64% 63%

Burl.A M0.R.L.G.7S

Burl.A Mo.R.inNeb

6s, exempt 115

48 '86* !.!!.■

ChL.Burl. A Quincy 136% 137 135% 133% 133%

7s •

Cin.,8andAClev(|50) 28% 28% 28% 27% 27%

Concord (160) 100

Connecticut River .'

Eastern 36 37 ^i 37% .36%

New 4% Bonds... 105% 106 105% 105^

Fitchburg 133 .... 135 134

Kan.C. Top. A West

Michigan Centra^ 1

61 63
118

104% 104%

N.Y. A New England 66% 66 64

7s 117% 117% 118

Northern N. H 105 ..

NorwichA Worcester '

Ogden A Lake Cham ..'

xreierreu ......... ..... ..... ..... ..... ..... .....

OldColony 125% 125 125% 124%

Ph.,Wil.ABalt.{$50).
Portl'd,Saco A Ports
Pueblo A Ark Val...

63%

78.

132 126

117% 116% 115%

Pullman Palace Car 125 131

Union Pacific 117 118

68 114

Land Qrant 78 Ill ...

Sinking Fund Ss. 120% 121

Vermont A Canada

Vermont A Mass

Worcester A Nashua

Cambridge (Horse)

Metropolitan(Hor8e)

Middlesex (Horse)

Cal.AHeclaMin'gCo 237% 238 239

Quincy 49% 50 51% 52 53

Philadelphia Stock Exchange.

Closing Prices for Uie Week Ending Jan. 3.

W.28. Th.29. F.30. Sat.31. M.2. Tu.3.

AUegh'y Val. 7 3-lOs 123^^

7s, Income 52 52%

Camd'nA Am.6s, '83

68,1889

Mort. 68,1889 114 ."

Camden A Atlantic

Preferred 129

1st mortgage

2d mortgage

Catawiasa

Preferred 63

7s, new 52

Del. A Bound Brook 125

ElmiraAWilliamsp't

Preferred

44 43% 43% 43

112%

in*

61%

38
77
61%

37%
77%
61%

36%

75%

61%

36%
73%
60%

Hunt. A B. Top Mt

Preferred 27%

2d mortgage

Lehigh Navigation . 43 %

68,1884

Gold Loan Ill

Railroad Loan

Conv. Gold Loan

Consol. Mort, 7b. 117

Lehigh Valley 61% 61% 61%

Ist mort. 68, coup 121 120

Ist mort. 68, reg ;*.

2d mort. 78

Consol mort, 68.. 117

Consol.mtg.68,reg 117% ,....

Little Schuylkill 57 57

MinehillASch.Hav'n 60%x

North Pennsylvania 60 59% 60 60 69%

iRt mortgage 6s . . 108 / •.

2d mortgage 78 '.

Genl. mtg.78,coup ■

Genl. mtg. 7s, reg

Northern Central.. 51 ^^ 51 •

5b lOO'i •.. ,

Northern Pacific... 37
Preferred 76%

i'ennsylvaniaR. R. 01%

1st mortgage

<«en'l mort

Gen'l mort reg

Consol. mort. 6s

Consol. mort. reg

Pa.State 68 2d series

do 3d series

do 58, new

do 38

Phila. A Reading. . . 34^

1st mortgage 68

7s of 1893

78, new convert

Consol. mort. 7s.. 125

Consol. mort. reg

Gen'l mort. 6s.... 98 97% 98^

Philadelphia A Erie 19%

1st mortgage 58.. 105%

2d mortgage 7s

Pittsb.,Cin.ASt.L.7fl

Pitts.,Titusv.ABuff. 21% 21% 21% 21%
78 102%

Schuylkill Navi't'n

Preferred

68,1872

68,1882 89

United Co. of N. J.. 185 185% 185 185

Hestonville, (Horse)

Chestnut A Wal. (do)

I'lroen A Coates (do)

34% 34% 33% 32%

125 125

98%

30%

.:■■ ■:.'■ ►.

• ^ASL^.^:^i:ii,:*^ l^v^i:^>'^-.!J.^*1n

,.il'...ii

J'rl^'jti^ifjJt l'

.':U

~ " *. . ' *" ,

AMERICAN RAILROAD JOURNAL.

; , :_ Baltimore Stock Exchange.

Closing Prices f»r the Week Ending Jan. 3.

W. 28.Th.29. F.30. Sat.31. M.2. Tu. 3.

Baltimore & Ohio

68.1880

' OSy lOOO ■•■■••••■•• ■■■•■ ••••• ••• •;• • • • ■ • • V* a • XV/ I

Central Ohio ($50)

1st mortgage > ,.. lOS^s

. Marietta k Cincin'ti 126

Ist mortgage. 78 125 125>^

2d mortgage, 78.. 106 v^ 106,^ ! 105

3d mortgage, 88.. 62 6234 62 60^ 58^

Northern Cen. ($50) 51^

2d mort., 68 1885

3d mort., 68, 1900

68,1900, gold 113

68,1904, gold 114 115

Orange & Alex. 1st

2d mortgage, 6a

3d mortgage. 8s

4th mortgage, 8s

0.,Alex.&Manas's 7s

Pitts.ft Connellsv.78 125 .'

Virginia 68, Consol. 71. V4' 72 73^4' 12}i 69 Ji

Oonsol. coupons 76

76 73 /.... 73

10-40 bonds 41'^ 42

Defd Certificates 17>i 17 >^ 17 .^

Western Maryland

1st M..end.by Bait

2dM., do

3dM., do

Ist M. .unendors'd

2dM.,end.Wa8hCo

2d M., preferred

City Passenger R R 41

Iiondon Stock Exchange.

-Closing Prices

Dec

Baltimore k Ohio (sterling) 114

Cairo & Viencennes com. stock 42

Do. preferred 5 per cent 91

Central of N. J. $100 share 93

Do. Cons. Mortgage 118

Do. Adjustment Bonds lf>4

Do. Income Bonds 104

Det..O'd Haven & Mil. Equip bdsll^
Do.Con.M.5p.c.,till'83aft'r6p.cllO

Illinois Central f 100 shares 137

Lehigh Valley Cons, mortgage.. 115

tjouisville & Nashville mort 6s . 105

Do. Sink. Fundbd8(S.&N.Ala)104

Do. capital stock $100 share8.105

if. Y. Cent. & Hud. R. mt. bds. .138

Do. $100 shares 142 >i

Do mort. bonds (stg.) 123

^.Y.,L*ke Erie k West., $100 shs 47'^
Do. 6 p. c. pref. $100 shares . . 96
^Do. 1st Con. Mort. bds (Erie) .130
"Do. do. Funded Coupon bds. 127
1>0. ^d Consol Mort. bonds. . .103,'^
• '00. do. Funded Coupon bds. .101

l)o. Gold Income bonds .' 95

N.Y.,Pa.& Ohio Ist mort, bonds. 53
Do. Prior Lien bds (sterling).. 105

Pennsylvania, $50 shares 65 >-4

Do. Con. Sink Fund Mort 120

Philadelphia k Reading $50 shs 35

General Consol Mortgage 116

Do. Improvement Mortgage. .104

Do.Gen.Mtg.'74,ex-d<!f' d conp.lOl

Do. Scrip for the 6 def. J^coup. 95

Pittsb., Ft. W. k Chi. Eq. bds... .105

St. L. Bridge Ist mort. gold b'd.l26

Do. Ist pref. stock 102

Union Pa. Land Grant 1st. mtg.115

AMERICAN RAILROAD JOURNAL.

c. 9.

Dec. 2.

116

114

116

120

118

120

109

104

109

107

104

107

114

112

114

112

138

137

138

119

115

119

107

106

108

106

105

107

101

103

142

137

140

14314

141^ 142 >^

125

123

125

47 ?i

46%

47 >i

132

130
127

132

129

104 Ji

104

105

103

101

103

100

53 >4

34 >4

110

105

110

65%

65 Ji

65%

122

120

122

33 >^

34 H

118

115

117

106

103

105

103

lOf

102

loa

109

105

109

128

126

128

104

102

104

119

115

.119

Financial and Commercial Revie^v.

Thttbsday Evening, Jan. 5, 1882.

Money on call during the day, with stocks
as collateral, was offered at six per cent, while
on United States bonds 3@4 per cent was the
quotation. Prime mercantile paper was 6@6J
per cent. In the last hour the rate for call
loans fell to 3 per cent. " ; ' ^^ - ^ ; ~

The actual rates for prime bankers' sterling
were4.79i@4.80 and 4.83J@4.84, with cable
transfers 4.84J@4.85J, and prime commercial
bill8"4.78J@J, The actual rates for continental
bills are as follows : francs, 5.25@5.25| and
5.20@5.20| ; marks, 94@J and 94J@95 ; and
guilders, 39|@40J, : 1\ ' ; /; ., .-v^^ : ,

According to the report of the receivers of
the Philadelphia and Keading Railroad and

Coal and Iron Companies, which has just been
made public, the gftoss earnings of the Railroad
Company for the fiscal year ending November
30, 1881, (including the canals, the steam col-
liers and the Richmond coal barges) were $20,-
279,244.14, the working expenses $11,426,800
70, and the net earnings $8,852,443.44 ; from
which deduct rentals of leased lines $3,363,539
79, and interest $5,346,315 — leaving a profit of
$142,588.65. Compared with the previous year
there was an increase in gross earnings of $1,-
758,841.41, with an increase in working ex-
penses of $1,279,652.64, making the increase in
net earnings $479,188.77; to which add decrease
in rentals of $2,619.23, together with decrease
in interest of $169,158.34 — making the increase
in net income $650 ,966.34.

During the same period the gross earnings
of the Coal and Iron Company were $15,007,219
17, the working expenses $13,807,774.05, and
the net earnings $1,199,445.12; from which de-
duct interest $1.158,777.63— leaving a profit of
$40,667.49. Compared with the previous year
there was an increase in gross earnings of $1,-
350,618.49, in working expenses of $639,056.61,
and in net earnings $711,561.88 ; to which add
decrease in interest $30,714.09— making the in-
crease in net income $742,275.97.

The total gross earnings of both companies
for the year under review were $35,286,463.31,
the total working expenses $25,234,574.75, and
tbo total net earnings $10,051,888.56; less rent-
als of leased lines $3,363,539.79, and interest
$6,505,092.63- -leaving a profit of $183,256.14.
Compared with the previous year there was an
increase in gross earnings of both companies
of $3,190,459.90, with an increase in working
expenses of $1,918,709.25 — making the increase
in net earnings^^l,190,750.65 ; to which add de-
crease in rentals of leased lines $2,619.23,
together with decrease in interest of $199,872:
42 — making the increase in net income $1,393,-

242.31/ ;-.---:■■:-■ V '■■■.■ ■■"^^'^ ■; ; V • '

The Cattawissa Branch shows an increase
in earnings of $71,943.28, and the Philadelphia,
Grermantown and Norristown Branch a decrease
of $31,588.55. The North Pennsylvania Branch
shows a profit over all rentals and expenses of
$58,920.83, as against a loss for the previous year
of $13,269.85, making a gain for the year of
$72,190.68. The Delaware and Bound Brook
Branch shows a profit for the year of $83,348. 13,
as gainst a profit for the previous year of $31,-
309.93, making an increase for the year of $52,-
038.20 ; or taking the two branches, the North
Pennsylvania and Delaware and Bound Brook,
together, the joint operations for the year
show a united profit over and above all rentals
and expenses of $142,268.96, as against a profit
of the previous year of $18,040.08. making an
increase for the year of $124,228.88. The ex-
press department shows a profit for the year
of $125,988.39 as against $102,363.09 for 1880.
The total amount of the floating debt of both
companies, receivers* certificates and arrears
of overdue interest for which either no provi-
sion has yet been made or for which provision
being made at a lower rate by the receivers, is
as yet unaccepted by creditors, outstanding at
the close of the fiscal year ended November
30, 1881, were as follows : Floating debt.
$9,682,293.43 ; receivers' certificates and obli-

gations, $2,386,457.64 ; arrears of interest, in-
cluding January, 1882, coupons of general
mortgage and of scrip. $2,083,587.75. The
above ^ure^ do not include arrears of canal
rentals as yet unpaid, amounting to $270, 180,
nor the unsettled claims for losses upon old
iron contracts, referred to in the report of the
receivers made July 15, < 881.

By referring to the statement of the Secretary.'
of the Treasury in another column it will be
seen that the total debt of the United States
on the 31st of December, 1881, amounted to
$2,018,869,697.85, less cash in the Treasury
$253,377,980,76, leaving net $1,765,491,717.09.
Since the 1st Dec. the debt has been reduced
$12,793,623.56. and since the 1st of July last
the reduction has amounted to $75,107,094.89.
Of the bonded debt $250,000,000 bears 4i per
cent interest, $739,347,800 bears 4 per cent,
$551,186,800 bears 3^ per cent, and $14,000,000
bears 3 per cent. Interest has ceased upon
$11,528,265.26, and $437,270,212.92 bears no
interest, being in the shape of circulation, cer-
tificates of deposit and gold and silver certifi-
cates. Of the cash in the Treasury $156,369,-
534.53 is available for any extraordinary ex-
penses. In addition to the above there are
outstanding $64,623,512 in bonds issued to the
Pacific Railroad Companies knovm as the cur-
rency 6's. •*'•

The total indebtedness of th« District of
Columbia on the 1st inst. amounted to$21.-
892,850. The amount of funded debt retired
since July 1, 1876, $338,900 ; reduction in an-
nual interest charge since July 1, 1878,
$55,792.

The Auditor of Minnesota began on the
3d inst. to p y the new State Railroad bonds
authorized by the adjustment act of last No-
vember, to the holders of the old bonds, the
interest on which has defaulted since 1860.
The State has sold $800,000 of trust securities
for cash and has reinvested the funds in new
bonds. This permits the payment of a consid-
erable number of old bonds, in cash. All frac-
tional parts of $1,000 will be paid in cash and
a percentage of all, besides about $30,000 of
claims against the old railroad companies. The
new bonds issued bear 4^ per cent, and r3n
thirty years, being redeemable after ten years
at the pleasure of the State. • :<j •

The closing quotations on Thursday were ;
American District Telegraph, 34@36; Adams
Express, 146@150; American Express, 92@93 ;
Chicago, Burlington and Quincy, 133^@134 ;
Canada Southern, 51|@52; Chicago and North-
western, 124|@124|; do. pref., 137^@139; Chi-
cago and Alton, 128i@129; Central of New Jer-
sey, 90@90J ; Central Pacific, 91J@92J ; Chi-
cago, Milwaukee and St. Paul, 106J@106J ; do,
pref,, 120@121 ; Cleveland, Columbus, Cincin-
nati and Indianapolis, 78^@79; Columbus, Chi-
cago and Indiana Central, 20J@20|; Delaware
and Hudson Canal, 106J@106|; Delaware, Lack-
awanna and Western, 123J@123| ; Hannibal
and St. Joseph, 95@95J ; do. pref., 108@109 ;
Illinois Central, 128J@129J ; Lake Erie and
Western, 32J@,34J ; Lake Shore and Michigan
Southern, 110f<^110J ; Metropolitan Elevated,
85J@87 ; Manhattan Elevated, 50J@51 ; Mich-
igan Central, 84^@84| ; New York Elevated.
105 J@ 106; New York, Lake Erie and Western,-":

--.*

...^

AMERICAN RAILROAD JOURNAL.

39J@39} ; do. pref., — @— ; New York Cen-
tral and Hudson River, 129i@129J ; Northern
Pacific, 35|@36; Ohio and Mississippi, 35 J@
@35| ; Panama, — @— ; Pacific Mail, 40@
40 J ; Texas and Pacific, 45J@45J; Union Pacific,
115|@115| ; United States Express, 76@77 ;
Western Union Telegraph. 771@78 ; Wabash,
St. Louis and Pacific, 34|@,35i ; do. pref., 66|
@67; Wells-Fargo Express, 126@130.

The following quotations of sales of Railway
and other securities, for the week, are in addi-
tion to those given elsewhere in our columns:
New York. — American Dock and Imp., 5s,
100; Boston and New York Air Line pref., 62;
Cedar Falls and Minnesota, 19 ; Chic^o, St.
Louis and New Orleans, 80 ; Chesapeake and
Ohio 1st pref., 34^ ; do. .2d pref., 24 ; do. cur.
int., 52 ; do. 1st, Series B, SOf ; Chicago, St.
1 Paul, Minneapolis and Omaha, 35 J ; do. pref.,
98^; do. consol., 98 1, Central Iowa, 37^ ; Cleve-
land, Columbus, Cincinnati and Indiana con-
sol., 122 J ; Chicago, Milwaukee and St. Paul
Ist, La C. and Dav. div., 94 J ; do. S. M. div.
1st, 103| ; Columbus, Chicago andlndiana Cen-
tral 1st Trust Co. certif. ass. sup., 118J; do.
Income, 74 J ; Denver and Rio Grande, 67 ;
do. 1st, 113; do. 1st consol., 102^; Denver, South
Park and Pacific 1st, 101 J ; East Tennessee,
Virginia and Georgia, 13 J ; do. pref., 24; do.
inc., 54f ; Green Bay, Winona and St. Peter,
llf ; Gulf, Colorado and Santa Fe 1st, 106 J ;
Indianapolis, Decatur and Springfield 2d in-
come, 70 ; Indiana, Bloomington and Western,
45 J ; International and Gt. Northern 1st, 107 ;
Lehigh and Wilkesbarre consol. ass., 107 J ;
Kansas Pacific 1st consol., 102}; Lake Erie and
Western, 34 ; Louisville, New Albany and Chi-
cago, 74; do. 1st, 101 ; Louisville and Nashville
geni mort. 6s, 100^ ; Manhattan Beach, 2b\ ;
Marietta and Cincinnati 1st pref., 15 ; do. 2d
pref., 9; Mobile and Ohio, 35 ; do. 1st deben.,
95; do. 1st, 110; Missouri, Kansas and Texas,
36J ; do. gen'l mort. 6s, 88; do. consol. 7s, 106;
do. 2d, 71^; Missouri Pacific, 100; do. 1st con-
sol.; 103^; Memphis and Charleston, 71 ; Mil-
waukee, Lake Shore and Western, 46; Michigan
Central 5s, 97 J ; do. 8s, 103^; Nashville, Chat-
tanooga and St. Louis, 85 New York, Ontario
and Western, 27; Northern Pacific 1st, 99|; New
' Orleans Pacific 1st, 91^ ; Ohio Central, 23 J ;
do. 1st, 97 ; Ohio Southern, 21J; do. inc., 42|;
do. 1st, 96J ; Oregon Railway and Nav., 131;
Peoria, Decatur and Evansville, 36 ; Richmond
\and Allegany, 39J ; do. 1st, 101; Richmond and
CiOanville, 180 ; do. 1st, 102 ; Rome, Watertown
and Ogdensburg, 20 ; do. 1st consol., 90} ; St.
Paul and Sioux City 1st, 109; St. Paul Minnea-
polis and Manitoba, 111; do. 1st, 109; St. Louis
and Iron Mountain 1st pref. inc., 96; do. 5s, 85;
Southern Pacific of California 1st, 103| ; Tole-
: do Delphos and Burlington, 16|; Texas and Pa-
cific, 47 J ; do. inc. L. G., 72 ; do. Rio Grande
div. 1st, 88} ; Wabash, St. Louis and Pacific 6s,
, 89; Alabama, Class A, 81 ; Arkansas 7s, L. R. i
Ft. S., 30 ; Louisiana 7s, consol. 68 ; Missouri
6s, 1888, 111 J ; South Carolina 6s, non-fund.,
llf; Tennessee 68, old, 74J;do. new, 74|; Amer-
^ ioan District Telegraph, 35 ; Sutro Tunnel, |;
.;■ Colorado Coal and Iron, 42 J ; do. 6s, 89 ; New
/ Central Coal, 19 J; Excelsior, \; Little Pittsburg,
: IJ ; Robinson, 2 J ; Standard, 17|.

P^iZcufe/pAia.— Catawissa new pref., 52 ; Cen-

tral Transportation, 37}; Huntingdon and Broad
Top 1st, 119 ; do. consol. 58, 89 ; Philadelphia,
Wilmington and Baltimore. 62} ; do. 4s, 94 ;
Philadelphia and Reading R. R. scrip, 80; Steu-
benville and Indiana 6s, J. & J., 106}: St. Paul
and Duluth pref., 71; Texas and Pacific consol.
mort. 6s, 100; do. Ist mort., 106 ; West Jersey
and Atlantic 6s, 112. The latest quotations are:
City 6s, 118@121; do. free of tax, 126@129; do.
4s, new, 102@109; Pennsylvania State 6s, 3d se-
ries, 100@101;do. 5s, new loan, 110@115;do.48,
new, 107@111; Philadelphia and Reading R.
R., 32|@32| ; do. consol. mort. 7s, reg., 124 J
@125} ; do. mort. 6s, 116@— ; do. gen'l mort.
6s, coupon, 98J@98i ; do. 7s, 1893, 118@125 ;
do. new, conv., 73@77 ; United New Jersey R.
R. and Canal, 184|@185J ; Buffalo, Pittsburg
and Western, 20@20} ; Pittsburg, Titusville
and Buffalo 7s, 102|@102| ; Camden and Am-
boy mort. 63, 1889, 113^@114} ; Pennsylvania
R. R., 60}@60|; do. general mort. coupon, —
@— ; do. reg., 123@— ; do. consol. mort. 6s,
reg;., 119@124; Little Schuylkill R. R. 56f@
57} ; Morris Canal, 65@.75 ; do. pref., 165@
169} ; Schuylkill Navigation, 6@7 ; do. pref.,
13@13} ; do. 6s, 1882, 88^@89}; do. 1872, 107
@108; Elmira and Williamsport pref., 58@60;
do. 6s, 110@— ; do. 5s, 95@ - ; Lehigh Coal
and Navigation, 43@43} ; do. 6s, 1884, 105^@
107 ; do. R. R. loan, 116@118 ; ilo. Gold
Lo.m, 111|@111| ; do. consol. 7s, 114}(^117} ;
Northern Pacific, 35^@35| ; do. pref., 73}@
73|; North Pennsylvania, 59^@60 ; do. 6s, 107}
@108},; do. 78, 123^@— ; do. General mort.
78, reg., 119@124 ; Philadelphia and Erie, —
@— ; do. 7s, 117@120 ; do. 5s, 105@106 ;
Minehill, 60@60i; Catawissa, 14@16; do. pref.,
53^@53};do. new pref., 513@52};do. 7s, 1900,
120@— ; Lehigh Valley 61|@— ; do. 6s, cou-
pon, 120|@121} ; do. reg., 121^@122} ; do. 2d
mort. 78, 133@ — ; do. consol. mort. 117^@
117| ; Fifth and Sixth streets f horse), 149@
150; Second and Third, 114|railH|; Thirteenth
and Fifteenth, 75@,80; Spruce and Pine, 47f@
48}; Green and Coates, 90@100; Chestnut and
Walnut, 94@95 ; Germantown, — @70; Union,
110@125 ; Lombard and South, — @— ; West
Philadelphia, 108@110; People's 15@15}; Con-
tinental, 100^105.

^crffimore.— Baltimore City 6s, 1884 104 ; do.
6s, 1890, 114 ; do. 5s, 1916, 121 ; Consolida-
tion Coal, 39 ; Columbia and Greenville 1st,
103; Canton 6s, gold, 107}; George's Creek Coal,
100 ; Maryland Defense 6s, 103 ; Norfolk and
Western pref., 57; Richmond and Danville, 163;
do. gen'l mort. 6s, 1915, gold, 104} ; Virginia
Midland, 70 ; do. 1st pref., 101 ; do.
2d mort., 110 ; do. 5th mort., 98J; Vir-
ginia Black scrip, 17; Virginia Peelers, 39 ; do.
Peeler coupons, 27} ; Wilmington, Columbia
and Augusta, 110. The latest quotations are :
Atlanta and Charlotte 1st. 108|@111 ; Balti-
more and Oliio, 195@210 ; do. 6s, 1885, 105^
@ 107; Baltimore City 6s, 1890, 114@114|; do.
5s, 1894, — @116};do. 5s, 1900, 118@— ; do.
5s, 1916, 121@121};do. 4s, 1920, -@112; Can-
ton Co. 6s, gold, 107|@107} ; Columbia and
Greenville 1st, — @104; Marietta and Cincin-
nati 2d, 105@105} ; do. 3d, 58J@58} ; North-
ern Central, — @50J ; do. 6s, 1900, gold, 113
@114;do. 6s, 1904, gold, lll@-;do. 5s, 1926,
97@97}; Ohio and Mississippi, Springfield div.

1st, —@119| ; Richmond and Danville, 180@ X
— ; Richmond and Allegany, 38@41 ; Virginia
Midland 5th mort., 97}@99; Virginia consols.,
69^@69|; do. consol. coupons, 72}@73; do. ■
10-40S, 40@41.

Boston. — Atlantic and Pacific 68, 96 ; do. 68,
Income, 33 ; Atchison, Topeka and Santa Fe ■
5s, 93 ; Boston Water Power, 6}; Chicago and :
West Michigan 5s, 79 Connotton Valley 7s, 85;
Chicago, Burlington and Quincy 4s, Denver •
ext., 87} ; do. 4s, old, 88f ; D«»roit, Lansing and
Northern pref., 116; Flint and Pere Marquette, .
22; do. pref., 92} ; Kansas City, St. Joseph and •
Council Bluffs 78, 116.}; Kansas City, Lawrence
and Southern 5s, 104 ; Kansas City, Fort Scott
and Gulf 7s, 107}; Little Rock and Fort Smith,
61}; do. 7s, 112}; Mexican Central 7s, 87 ; Mar-
quette, Houghton and Ontonagon, 60}; do. 68, .
102 ; Maine Central, 40 ; New York and New
England 6s, 107; Northern Pacific 6s, 99}; New :
Mexico and Southern Pacific 7s, 115} ; Rut-
land pref., 26} : do. 6s, 101; Summit Branch,
12}; Sonora 1st, 89 ; Toledo, Delphos and Bur-
lington, 8} ; Wisconsin Central, 20} ; Allouez '
Mining Co., 3} ; Atlantic. 17}; Blue Hill, f; ;
Catalpa, ^; Central, 31; Copper Falls, 4} ; Frank-
lin, 14}; Huron, 3}; Harshaw, 4}; Osceola, 31 J; .
Pewabic, 16}; Phoenix, 3; Silver Islet, 21;Starl.

Hannibal and St. Joseph Railroad.

Refekring to the alleged statement of the

Governor of Missouri, that if the Hannibal and

St. Joseph Railroad Company fails to pay the

January interest on the State Aid bonds of that

State he will advertise the road for sale, John

R. Duff, Vice President of the company, says ;

" The Hannibal and St. Joseph Railroad
Company is under no obligations to pay the in-
terest referred to. The bonds are the bonds of
the State of Missouri, and not of the railroad
company. They amount id $3,000,000 and no
more. On the 20th of June, 1881, the railroad
company paid $3,090,000 to Phil E. Chappell,
the Treasurer of the State, and took a specific
receipt from the Treasurer. The $3,090,000
paid was the full amount of the principal and ac-
crued interest of the bonds. The State of Mis-
souri still has this money. The State paid the
July interest on these bonds through the Bank
of Commerce, its regular fiscal agency in New
York. It is an absurd proposition that, after
paying our debt in full, principal and interest,
we should continue to pay interest. The Han-
nibal and St. Joseph Railroad Company is the
only railroad company receiving aid from the
State of Missouri which has never defaulted
upon the interest. Over $23,000,000 of bonds
were issued by the State for her railroads. This
particular $3,000,000 of bonds is the only issue
upon which the State has never lost a dollar."

••■,•...;

Growth of Colorado. j, :

The growth of the State of Colorado during
the past year is unprecedented in its history.
In Denver alone more than $4,000,000 wer6 ex-
pended in the construction of new buildings,
and the total assessed valuation of the city is
$25,650,000, an increase in the past year of $9,-
460,000. The Auditor's records show the as-
sessed valuation ot the entire State to be $96,-
059,000, an increase of $23,000,000 over that of
1880. The lowest figures on the bullion output
of the State for the past year place it at $20,-
200,000. Of this, Lake County is credited with
$11,500,000. The total indebtedness of the
State is $330,000. It is safe to say that there

i^i^

. - P ■fv'T-:^j^^'^--_ I ^-T.iT! Tpw;-

-f:.

AMERICAN RAILROAD JOURNAL.

will not be over $100,000 of outstanding war-
rants a year hence, as the receipts from the
counties will amount to $300,000 at least during
the next nine months. More than $9,000,000
has been spent in the State on railway con-
struction during the past year. Denver and
New Orleans expect to have connection by the
Texas Bailroads with New Orleans by next
Christmas ; the Chicago, Burlington and Quincy
Railroad company will Vave its line completed
to Denver, and the Rio Grande Railway has
laid a third rail to Pueblo. The Atchison, To-
peka and Santa Fe Railroad will run trains

through to Denver.

Railroad Iiease and Traffic Contract.

The Louisville and Nashville Railroad Com-
pany has leased to the Chesapeake and Ohio
and Southwestern Railroad Company the 46
miles of its railroad known as the Cecilian
Branch, running from Louisville south to Ce-
cilian Junction, where it connects with the
Paducah and Elizabethtown Division of the
Chesapeake and Ohio and Southwestern Com-
pany, completing the latter's line between
Memphis and Louisville. The Chesapeake and
Ohio and Southwestern Railroad Company and
the Louisville and Nashville Railroad Company
have also entered into a traffic agreement for
the use by the former of the latter's railroad
between Lexington and Louisville, thus put-
ting at rest all questions about building a sec-
ond line of road between those two points. By
this arrangement the Chesapeake and Ohio and
Southwestern Railroad practically have a con-
tinuous line of railroad from Newport News to
Memphis, and the Louisville and Nashville
Railroad, by accommodating the Chesapeake
and Ohio and Southwestern Railroad and en-
abling it to perfect its through line, is benefited
by securing the large volume of business which
the Chesapeake and Ohio and Southwestern
Railroad will send over the Lexington Road to
Louisville, and benefits also by the rental de-
rived from the leased property, which the Lou-
isville and Nashville Company has never made
use of. ■.:■;...;-■.■..- x;:' ■.••"; ■ :'-:i ■-.■-■'■■-'

The Pacific Railway Snow Sheds.

/. These wonderful wooden tunnels cover forty
miles of the Central Pacific railroad. They
were first suggested by its practical vice presi-
dent, Charles Crocker, but his companions
hesitated through fear of their impracticability
and expense. They are of two kinds, one with
very steep roofs and the other with flat roofs.
Thoy cost per mUe from $8,000 to $12,000, and
in some places, where heavy masonry was need-
ed, the cost reached $30,000 a mile. They are
fiirmly constructed to support the great weight
of snow and . resist the rush of avalanches.
Fire precautions are very thorough. Corru-
gated plates of iron separate the buildings into
sections, and in the great ten mile shed there
are automatic electric fire alarms. At the sum-
mit is an engine and tank always ready to flood
the ignited spot in an instant. These sheds
shut in the view of the great Sierras, but with-
out "them travel would be impossible. Some-
timeb five feet of snow falls upon them in a
day and often thirty feet lie on the grourd at
one time, and in many places snowaccumiilates

to the depth of fifty feet above these great
wooden arches.-;^-.' '. r*:' ;'v ' ' ,. .;

Statement of the Public Debt of the
United States, January 1, 1882.

' ; .; DEBT BEARING INTEEEST.

, - '.'■:•■ Amount

Outstanding.
6 per cent loan, 1861-'81,

continued at 3 >i per ct. $101,827,200 00 $1,781,974 29
6 per cent loan 1863-'81

continued at Z}i per ct 47,855,700 00
5 per cent funded loan of

1881 401,503,900 00

41^ per cent funded loan

of 1891 250,000,000 00

4 t>er cent funded loan of

1907 738.772,550 00

4 per cent refunding cer-
tificates 575,250 00

3 per cent navy pension

fund 14,000.000 00

Accrued
Interest.

837.473 82

2.342,106 08

937,500 00

7,8^7.725 50

5.752 50

10.000 00

85 74
22 00

213 06

2.945 00

600 66

370,700 00 8,439 32

58.650 00 170 95

77,050 00 18,897 52

490,350 00 110,3«6 10

411,300 00 15.815 21

1.103,850 00 204.455 36

315.750 00 24,203 90

142.000 00
3.558.750 00
134.500 00

fi.660 00

90.739 38

6,373 50

Aggregate of debt bear-
ing interest $1,554,534^600 00 $13,502,532 19

Interest due and unpaid 1,331,845 66

DEBT ON WHICH INTEREST HAS CEASED SINCE MATDBITT.

Amount Interest due
Outstanding, k unpaid.

4 to 6 per cent, old debt, 1837. $57,665 00 $64,174 81
6 per cent. Mexican indem-
nity stock, 1846 1,104 91

6 per cent, bonds, 1847 1,250 00

6 per cent, bounty land'scrip,
1847 3.275 00

5 per cent. Texas indemnity
bonds, 1850... 20,000 00

5 per cent, bonds, of 1858 8.000 00

5 per cent, bonds, of 1860 10,000 00

6 per cent. 5-20 bonds, 1862,
called

6 per cent. .5-20 bonds, June,

1864, called

6 per cent. 5-20 bonds, 1865,

called

5 per cent. 10-40 bonds, 1864,
called

6 per cent. Consol. bonds,

1865, called '.,

6 per cent. Consol. bonds,

1867, caUed...

per cent. Consol. bonds,

1868, called

6 per cent, loan, Feb. 8, 1861,

matured Dec. 31, 1880

per cent, funded loan 1881.

called

Oregon War Debt, March 2,

1881. matured July 1. 1881.
6 per cent loan of July 17 and

Aug. 5. 1861. matured June

30.1881 1,107,400 00 44,068 50

6 per cent loan of July 17 and > •

Aug. 5, 1861. matured Dec. ' .

24, 1881, called

6 per cent, loan of March 3,

1863,matured June 30. 1881.
1-10 to 6 per cent. Treasury

notes, prior to 1846

1-10 to 6 per cent. Treasury

notes, 1846

6 per ct. Treasury notes. 1847 .

3 to 6 per cent. Treasury
notes. 1857

6perct. Treasury notes. 1861.

7 3-10 per cent. 3 years' Treas-
ury notes. 1861

5 per cent. 1 year notes,1863. .

5 per cent. 2 year notes, 1863.

6 per ct. compound interest
notes, 1863-64

7 3-10 per cent. 3 years' Treas-
ury notes, 1864-65

6 per cent, certificates of in-
debtedness, 1862-63

4 to 6 per cent, temporary
loan. 1864

3 per cent, certificates, called.

Aggregated of debt on which .
Interest has ceased since
maturity $11,528,265 26 $714,985 31

DEBT BEARING NO INTEREST.

Demand notes, 1861-62 $59,920 00

Legal tender notes, 1862-03. ... 346,681.016 00

Certificates of Deposit 9,590,000 00

Coin certificates, 1863 5.188,120 00

SUver certificates, 1878 08,675,230 00

Unclaimed interest .; , ■ 7,256 51

Fractional currency, 1862, ' -"'.

1863 and 1864 $15,451,860 92 i

Less amount es- ... ,:* -• : ;

timated as lost I; ■. ' - ■ '. ' V .

or destroyed, .'/■;-.■'.-' ^\-'

act of June, ' ; V ■ '"-

21.1879 8,375,934 00

2.763,300 05

46.636 40

326,350 00

10.023 00

82,525 35

2.668 06

6,000 00
950 00

206 00
57 00

1,700 00
3,000 00

99 00
364 60

16.300 00
43,225 00
35,200 00

1.104 43
2,173 35
1.779 80

225,260 00

45.968 07

140,900 60

4.763 87

4,000 00

253 48

2,960 00
5,000 00

244 19
, 394 31

BECAPITULATION.

Debt bearing interest in
coin, viz :

Bonds at 6 per cent., con-
tinued at 3U per cent.

Bonds at 5 per cent, con-
tinued at 3 >^ per cent .

Bonds at 43>s per cent

Bonds at 4 per cent

Refunding certificates...

Navy pension fund, 3 p.c

Amount
Outstanding.

$149,682,900 00

401,.W3.900 00

250,000,000 00

738,772.550 00

675,260 00

14,000,000 00

Int«re«t.

$1,554,534,600 00 $14,814,377 8f
Debt on which interest has
ceased since maturity . 11,528,265 26 714,986 31

Debt bearing no int., viz:
Old demand and legal-
tender notes $346,740,936 00

Certificates of deposit 9,590,000 00

Coin & silver certificates. 73,863,350 00

Fractional currency 7,076.926 92

Unclaimed interest.

$437,270,212 92

7,266 61

' . • $2,003,333,078 18 $15,636,619 6T
Total debt, principal and interest to date,
including interest due and unpaid. . .$2,018,869,697 35

AMOUNT IN TREASURY.

Interest due and unpaid $1,311,845 66

Debt on which interest has ceased 11,528,266 16

Interest thereon 714,986 31

Gold and silver certificates 73,863,'350 00

U. S. notes held for redemption of cer-
tificates of deposit 9,.'590,000 90

Cash balance available January 1, 1882. 156,369.534 53

$253,377,980 76
Debt, lessam't in Treas'y Jan. 1, 1882. ..$1,765,491,717 09
Debt, less am't in Treasury Dec. 1, 1881 . . 1,778,286,340 65

Decrease of debt^uring the month $12 793,623 66

Decrease of debt since June 30, 1881 $75,107,094 89

BONDS ISSUED TO THE PACIFIC RAILROAD COMPANIES, IH-

TEREST PAYABLE IN LAWFUL MONEY.

Central Pacific bonds,
Kansas Pacific bonds.
Union Pacific bonds.
Cent. Branch Union

bonds, 1862-64

West'n Pacific Bonds,
Sioux City & Pacific

1862-G4

Amount
Outstanding.
1862-64$25.«85,12D 00
1862-64 6,303,000 00
1862-64 27,236.512 00
Pacific

1,600,000 00

1,970,560 00

1862.64
bonds.

Accrued

Interest

not paid.

$776,553 60

189,090 00

817,096 36

48,000 00
59,116 80

1,628,320 00 48.849 60

Totals $64,623,512 00 $1,938,706 34 »

Interest paid by thfe United States, $51,467,272 02; in-
terest repaid by transportation of mails, *c., $14,707,-
886 34; interest repaid by cash payments : 6 per .cent,
net earnings, $6.55,198 87; balance of interest paid by
United States, $36,104,186 81.

The foregoing is a correct statement of the public
debt, as appears from the books and Treasurer's returns
in the Department at the close of business, December

31, 1881. CHARLEb J. FOLOER.

Secretary of the Treasury.

Mek with few faults are the least anxious to
discover those of others.

Death and the sun have this in common'—
few can gaze at them steadily.

Talent is an eyesore to tyranny. In weak-
ness, tyranny fears it as a power; in power, it
hates it as a liberty* - , ;

THE LAKE SHORE AND MICHIGAN SOUTH
ERN RAILWAY COMPANY,

Treasurer's Office, Grand Central Depot,
New York, December 23d, 1681.

The Board of Directors of this companv hav*i thia
day declared a QUARTERLY DIVIDEND of TWO
per cent u^nm its capital stock, payable on WEDNES-
DAY, the first dity of Februttry next at this office.

The transfer booki? will be closed at 3 o'clock P. -
M. on Saturday, the 3!st in.*tant, and will be re-
opened 00 the morning of Saturday, the fourth day of
February next.

E. D. WORCESTER, Treasurer.

^ . : ,^._, ; ,^ . ''075,926 92 *

Aggregate of debt bearing no
Interest $437,270,212 92 $7,266 51 i

COTT#\-St:ED HULLS

For Packing Journal Boxes of Cars.

' ^^ - IUtioial Railway Patcit Wash Ca

240 Broadway, - New York.

iri

-1.

AMERICAN RAILROAD JOURNAL.

•. ?>' ■:

'¥■■■

Ten new Locomotives, Standard Gauge, June
and July delivery.

New 3ft. Gauge Locomotives, summer delivers-.

One Second-hand Tank Locomotive 3ft. Gauge,
rebuilt good as new, January delivery. .

Second-hand Standard Gauge Locomotive arid
P&ssenger Cars.

Thirty new Box Cars Standard Gauge, immedi-
ate delivery.

New Flat and Coal Cars, January delivery.

New Passenger and Combination Coaches 3ft.
Grange, early delivery.

New Car Wheels and-Castings.

Iron and Steel Rails.

Narrow-Gauge Rolling stock a specialty.

BARROWS & CO..

NEW YORK.

(oLLij^s.jj^iiDEN 0Epn^,

25 fme §T. - l^ew Yoi^^

Interest allowed on Deposits subject
to Draft. Securities, &c., bought and
sold on Commission. |

investmenrSecurities always on hand.

Brown, Brothers & Co.,

No. b9 Wall Stieet, New Yoii,

— BUT AND 8ELI

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— ON —

GREAT BRITAIN, IRELAND, FRANCE, GERMANY.
BELGIUM, AND HOLLAND.

issue Commercial and Travelers' Credits in Sterling,

AVAILABLE IN ANY PART OF THE WORLD. AND IN
FRANCS IN MARTINIQUE AND GUADALOUPE.

Xake Teleobaphic Transfees of Money between this
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Make Collections of Drafts drawn abroad on all points
in the United States and Canada, and of drafts drawn in
the United Stotes on Foreign Countries.

Scioto R. R. 1st 7*8, 1905.
Scioto R. R. 2nd 7's, 1879.
Scioto R. R. Con. 7's, 1910.
Scioto R. R. Stock.
Columbus & Toledo 1st 7's, 1910.
ToL, Cian. & St. L. Stock and Bonds.

' D. A. EASTOW, . i .i

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CAB WHEEL WORKS,"

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STEEL RAILS,

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BLOOMS.

C. H. ODELL, AGT.

104: Joliii St., N. Y. ' !;;

FOB SALt. IN I OTS TO J»UIT.

Prompt Delivery. 1

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS,
AND FOR RE-ROLLING OLD HAMJtx ^

OLD RAILS AND SCRAP AND CAR WHEELS BOUGHT AND SOLD.

SWIFT'S IRON AND STEEL WORKS,

26 W. THIRD ST., CINCINNATI, OHIO.

• i

Manufacturers of ail Weights of Standard and Narrow Gauge Rails by the most approved process. Also Ra9 Fasteninjs

Sted and Bloom Boiler Plate, and Tank, Sheet, and Bar Iron. '

BETHLEHEM IRON CO.,
IRON AiyP 8TEEL R AILS

I GEO. A. EVANS.

j No. 74 Wall Street, - - - New York.

Railroad

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:a;

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AMERICAN RAILROAD JOURNAI..

•.; '''•

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ENGLAND.

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' 44 Exehangre Place, New York.

PATENTS

We continue to act as Solltltora for Patents, Caveats
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Canada, Cuba, England, France, Germany, etc We
have bad thirty-live years' experience.

Patents obtained through us are noticed In the scr-
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AMEBIGM BMOAB JOMAL.

, r PUBLISHED WEEKLY BY THE

American Railroad Jonmal Company,

iTo. 23 I-ii"toert3r Street,
NEW YORK.

The AMERICAN RAILROAD JOURNAL, the
oldest railroad paper in the world, was established
during the construction of the first 100 miles of rail-
road in this country. Its files of the past fifty years
furnish a complete record of the development of
American railroads and faithful chronicles of the
kiodred financial interests. It contains features of
special value to investors and others desirous of being
readily acquainted with values nnd transactions con-
nected with the development and working of our
railroad systems, and much of interest to the general
reader. It is tal<en by leading railroad men, inves-
tors and hanking houses in this country and Europe,
where it has long been a recognized authority in its
special field, being recommended as such by "Cham-
bers' £ncyclop8Bdia" and other stnndard foreign and
doiiiesuc publications. We give below a few extracts
.rom opinions of the press :

From " Herapath's Railway Journal," London.

The AifERicAN Railroad Journal, one of the
most honest and outspoken of American papers.

From the " Journal of Commerce," New York.
The American Railroad Journal, a most valu-
able weekly newspaper. Is now half a century old.

From th« " Cincinnati Price Current." <

The American Railroad Journal's list of pat-
rons ii composed largely of the oldest and heaviest
financial bouses in the United States, Great Britain
anl the Continent, and of railway companies, manu-
facturing establishments and banking and commer-
cial houses in this country.

" From the •' Pittsburg (Pa.) Chronicle "

The American Railroad Journal is authority
I 00 railroad news.

-1

From the " Washington (D. 0.) Law Reporter."
The Ambrican Railroad Journal is a most val-
uable publication, and to all persons interested in
American railroads, earnings, dividends, etc., etc., it
is almost inraloable. vr , ■ •

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o : i-' .b ' io :Hi OT^ -.li, ■...,.:.■■

AMERICAN

REFRIGERATOR i

- New York, Oct., 1881.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported
Liquors, Patent Medicines, Es-
sential Oils, Mineral Waters,
Lager Beer, Ales and Porters,
Oysters, or, in fact, any class of
goods that needs protectioii
from heat or cold while in tran-
sit to the West and Southwest,
either in Summer or Winter,
will do well to ship the same by
the new and elegant cars of the

BEPBIBERATOR TBMSIT COM!

Guaranteed Rills of Lading:

Time as qnick and rates hs
low as by any first class fast
freight line. ^ \:-:y- i ^

JE^Ship from New York via
N. Y. C. and H. H. .K B., St.
John^s Park ; from Boston t|ia
Boston and Albany K* R* v

4.:v

For rates and information apply to

FAED'K I. EVANS,

Beneral Eastern Agent

92 Wall Street, - New York.

271 Broadway, New York,

282 Washington Street, Boston.

AMB!RIdAN RAttROAD JOURI^aL.

THE CALIGRAPH.

■■'■I-'

■ ■■•*•-

■ :>**-^

Weight aOLbir

THE CALIG1APH is a machine invented to take the place ol the pen. It is operated by touching
keys as in playing the pianu. The writing, which is always neat and legible, and can be copied in a letter-
press like ordinary pen writing, is done with wonderful ease and about three times faster than with the
pjD. Its use is learned in from two weeks to two months' time. It manifolds, giving from three to twenty
copies at one impression. It aids composition, does away with bad penmanship, and saves time, labor and
money. It i) the best-known means of teaching spelling ami punctuation. These qualities) render it indis-
pensible to business men, or all who have writing to do or children to educate. ;.::,",:-...:.:.; • ■: - =

THE CALIQRAPH is the invention of Mr. G. W. N. Yost, who was mainly instrumental in placing
the Typ£-Writer before the public, and who for the past seven years has given his entire att:;ntion to
to writing machines. His long experience and thorough knowledge of the defects of the old style of Writ-
ing Machines, have enabled him to combine iu the CALIORAPH all the good^and to leave out all the bad
elements of Writing Machines, as heretofore made. " ■'■7- / '• ':■.:. - .' " ^^

The No. 1 machine is furnished with capital letteis, figures, and punctuation marks only. Its ke^ board
contains forty-eight characters, which are arranged in six rows of eight each.

No. 1 Caligraphs are made with four different styles of type, as fullows : Large and small Gothic, and
large and small Roman.

Tbe No. 2, or upper and lower case Caligraph, is like the No. 1 in all respects,
except that it is furniahed with both capital and small letters, and is made larger to
admit of the use of extra keys, type-bars, etc., for the additional char : « u u loth
machines are operated in the same manner, and are about equal in speed.

The key-board of the No. 2 machine is arranged as follows : It contains, in all,
keys for seventy-two characters. Forty-eight of these, occupying the centre of the
board, are lower-case letters, figures, and punctuation marks, and are arranged pre-
cisely as in the No. 1 key-board. They are black on a white back-ground. At each
end of the above, to the right and left, are thirteen capitals, which are white on a
black back-ground. The whole key-board is arranged in six rows of twelve char-
acters each.

The No. 2 Caligraph has an independent key and type-bar for each letter, thus
avoiding all complication and greatly enhancing speed. The Caligraph is construct-
ed of the most durable materials. There is no cast or even malleable iron used.
Every part is made of cast or rolled steel or brass, by skilled mechanics. It is finely
-finished, and with proper care will, like the Sewing Machines, last a lifetime.

Tht Caligraph is a great boon to Ministers, Lawyers, Manufacturers, Editors, Authors, Steno-
graphers, Insurance Companies, Bankers, GovemmerU Officials^ Copyists, Teadixrs, Frivaie Ihmlies,
and all who have writing to do or children to educate. ''''■'■

No. 1. Price, including Ofl&ce Case - •; : ■^.' : ; *; • : ,^ ■ $60 00

" 2. •• ♦• •• «• - . - ^ . V - > 80 00

" 3. •• " _ . ,. -" " - >■"■/•> ;>:V--rW^ '■ ^>^ /■'>'■>.■ .'::' 65 00

Address

THE AMERICAN WRITING MACHINE COMPANY.

213 WS8T 31st STB££T« - • - fiSW YOfiS*

WeigUt 10 Lbe.i

-:■;■■'-''■•■■, ' Ko. 1. '■'■■■

195 Broadway, New York. Dec. 2d. 1881.
A. W. M. Co. V.

Gentlemen: — The two Uo. 2 Caligraphs pur-
chased of you for use in the law oflSce of Dillon
& Swayne, are giving excellent satisfaction.
We prefer the large to the small Roman type.
I have used the Type-Writer for several j'ears,
but the Caligraph is much superior. I cannot
enumerate all the points of superiority, but
will refer to some of them. Its lightness and
portability is a great improvement. It is also
a great advantage to have a separate lever for
each type. This avoids the necessity of shift-
ing from Upper to Lower Case, and the memory
is not so taxed to remember the kind of t}7)e
you are writing with.

The arrangement of the letters on the key-
board is the best I have ever seen. The align-
ment is perfect, and the arrangement for retain-
ing it, excellent, t : ■■_■■ -

The ribbon movement is sure and easy, and
the shifting of the ribbon requires but a single
touch of the fingers.

The arrangement for carrying the paper is
simply perfect, doing away with the rubber
bands, which were continually breaking or
getting weak ; drawing the paper sideways, and
spoiling the regularity of the spaces between
the lines.

The pace-keys on either side is a great con-
venience, and much better than the old way of
having a space bar in front.

The carriage movement is very uniform, and
has no hitches or sluggish points, as in the
Type- Writer. The trip which disengages the
carriage, and enables the operator to move it
at pleasure is invaluable.

Changing the line spacing is done instan-
taneously and with a single movement of the

hand. The bell and stops are in front, and th«
parts which require tension are iJl accessible.

The Caligraph does not get out of order. It
is easily cleaned. The new machines have a
very strong stroke, which makes them very de-
sirable for manifolding. As many as four to
six good copies can be taken at once, on thick
paper.

Paper of any widtJi can be used, also envel-
opes or postal cards, without changing the
machine.

The variety of type used in the Caligraph is
another great advantage. The large Roman
letters used in your No. 2 are especially admir-
ed by all who have seen^ the machine or ita
work.

I use the machine personaUy, several hours
daily, and find it all that could be desired.
You are at liberty to refer any od« to me joa
may desire.

Bespectfxdly years. - ■

E. H. SailTH, Stenognybei;

■ 4

75I«r'?i5=^

...t.

-.1

AMERICAN RAILROAD JOURNAL

FAIRBANKS' ^'^^^^^^s^ales

.'"f- aoo ns^oiDHF^o-AuiTioniTS. '■

ADAPTED TO ALL CLASSES
OP BUSINESS.

Railroad and Waretionse Tracks,

AN COPYING- PRESSES.

' Oldest and Largest
Scale Works in the World.

B c Y ONLY THE GENUINE.

Dorm "Warehouse Scales.

:F',A.'rR>B.A,I^"IgS dc CO.,
r 31 1 Broadway. Nev York.

JOHN STEPHENSON CO,

-„■, _ ; . ; [Limited.]

NEW YORK.

pl Superior Elegance, Lightness and Dii-

1 . Tability. The result of 50 years' experi-
1. ence.

J Adapted to all countries and climates.

. >| , Combining all valuable improvements.
Shipped to Foreign Parts with greatest
care, and at most favorable rates.

j THE ROGERS

LOCOMOTIVE MD MCmE WORKS,

Faterson, IT. J.

Haring extensire facilities, we are now prepared to
furnish promptly, of the best and most approved de-
scription, either

- COAL OR AVOOD BUKNINU j .
XjOOOAffOTIVB BITCHITE3S,

: I AND OTHEB VARIETIES or

'.:'.: KAILROAD iriACIII^ERT.

J. S. ROGERS, rresH
R. S. HUGHES, Sec

YesH. \
Jec'y. I
, SupH. J

Paterson, N. J.

T^ S- BTCJO-XTrnS, TxeasvLxer.

44 Exchange Place, Ne-w York.

PATENTS

We continue to act as SoUcltors for Patents, Caveats.
S^^^'^H?' Copyrights, etc., for the United States
^?S?^^^J^-I°8:land, France, Germany, etc We
Iiave had thirty-five years' experience.

Patents obtained through us are noticed In the Sci-
»Tinc AMERICAN. This large and splendid lllus-
tnUed weeklypaper, $3.aOayear,shows the Progress
Sf^wf®' ^ y^7 interesting, and has an enormous
r^iSfv.*^* /5<lres8 MUNN A CO., Patent SoUcI-
viSv^r^*- of SciEfmnc AMERICAN, 37 Park Bow,
ItewYorfc. Hand boot about Patents free.

^ttJk^St^

AMEBIGAN BAEBOAD JOMAL.

^ PUBLISHED WEEKLY BY THE

Aieiican Bailioad Joniml Goipany,

iTo. 23 XjiToert^r Street,

NEW YORK.

I - ■■ . "

The AMERICAN RAILROAD JOURNAL, the
oldest railroad paper in the world, was established
during the construction of the first 100 miles of rail-
road in this country. Its files of the past fifty years
furnish a complete record of the development of
American railroads and faithful chronicles of the
kindred financial interests. It contains features of
special value to investors and others desirous of being
readily acquainted with values and transactions con-
nected with the development and working of our
railroad systems, and much of interest to the general
reader. It is toMen by leading railroad men, inves-
tors and banking houses in this country and Europe,
where it has long been a recognised authority in its
special field, being recommended as such by " Cham-
bers' Encyclopaedia" and other standard foreign and
domestic publications. We give below a few extracts
.rom opinions of the press :

From " Herapath's Railway Journal," London.

The American Railroad Journal, one of the
most honest and outspoken of American papers.

From the " Journal of Commerce," New York.
The American Railroad Journal, a most valu-
able weekly newspaper. Is now half a century old.

From th« " Cincinnati Price Current."

The Americait Railroad Journal's list of pat-
rons ik- composed largely of the oldefit and heaviest
financial houses in the United States, Oreat Britain
anl the Continent, and of railway companies, manu-
facturing'establishments and banking and commer-
cial bouses in this country.

" From the " Pittsburg (Pa.) Chronicle "

I The American Railroad Journal is authority
00 railroad news.

Froia the " Washington (D. 0.) Law Reporter."
The American Railroad Journal is a most val-
uable publicHtion, and to all persons interested in
American railroads, earnings, dividends, etc., etc., it
is almost invaluable. ... -f

■^.■..•■- i •: '■. .\ ■-■■■ ^ ■.,:■ ■■'■•

A ME RIC AN

REFRiaERATOR I

New York, Oct, 1881.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported
Liquors, Patent Medicines, Es-
sential Oils, Mineral Waters,
Lager Beer, Ales and Porters,
Oysters, or, in fact, any class of
goods that needs protection
from heat or cold while in tran-
sit to the West and Southwest,
either in Summer or Winter,
will do well to ship the same by
the new and elegant cars of the

BEPBieEBATOB TBMSIT COMI

Gaaranteecl Bills of liadingr

Time as qnick and rates ns
loTF as by any first class fast
freight line* j

I^Ship from New York Tia
X. Y. C. and H. K. .K B., St.
John^s Park ; from Boston Tin
Boston and Albany U. R, :

For rates and information apply to

FBED'K I. EVANS,

fv fieneial Eastern Agent.

.1- -.

92 Wall Street, - New York.

271 Broadway, New York,

282 Washington Street, Boston.

■■■■'..:■.■■:■- ,-::t

AMERICAN RAILROAD JOURNAL.

■4: '..

. .M;'.-

THE CALIGRAPH.

ffl

= Weight aoLbi^

THE CALIGHAPH is a machine inTented to take the place ul the pen. It is operated by touching
keys as in playing the piano. The writing, which is always neat and legible, and can be copied in a letter-
press like ordinary pen writing, is done with wonderful ease and about three times faster than with the
p.n. Its use is learned in from two weeks to two months' time. It manifolds, giving from three to twenty
copies at one impression. It aids composition, does away with bad penmanship, and saves time, labor and
money. It \\ the best-known means of teaching spelling and punctuation. These qualities render it indis-
pensible to business men, or all who have writing to do or children to educate.

THE CALIQRAPH is the invention of Mr. G. W. N. Yost, who was mainly instrumental in placing
the TrP£-WRiTER before the public, and who for the past seven years has given his entire attention to
to writing machines. His long experience and thorough knowledge of the defects of the old style of Writ-
ing Machines, have enabled him to combine in the CALIORAPH all the good, and to leave out all the bad
elements of Writing Machines, aa heretofore made.

The No. 1 machine is furnished with capital letteis, figures, and punctuation marks only. Its ke^ -board
contains forty-eight characters, which are arranged in six rows of eight each.

No. 1 Caligraphs are made with four different styles of type, as follows : Large and small Gothic, and
large and small Roman.

The No. 2, or upper and lower case Caligraph, is like the No. 1 in all respects,
except that it is furnished with both capital and small letters, and is made larger to
admit of the use of extra keys, type-bars, etc., for the additional char : < u u 1 oth
machines are operated in the same manner, and are about equal in speed.'

The key-board of the No. 2 machine is arranged as follows : It contains, in all,
keys for seventy-tw o characters. Forty-eight of these, occupying the centre of the
board, are lower-case letters, figures, and punctuation marks, and are arranged pre-
cisely as in the No. 1 key-board. They are black on a white back-ground. At each
end of the above, to the right and left, are thirteen capittils, which are white on a
black back-ground. The whole key-board is arranged in six rows of twelve char-
acters each. . ;-,■-■ .•■■^ : -r-,- .••■■,,-.;■■> ;.;■;;:■ .. v.,,-:./-^- ;;:;-. .-;

It will be remembered that the old style of No. 2 Type-Writer has two letters
on each type-bar, and one set of keys for both capital and small letters, an arrange-
ment which necessitates a coqiplicated carriage movement and a great loss of speed,
as, in order to print a capital, a special key must be depressed with a finger of one
hand while the capital is being struck with a finger of the other.
.^ The No. 2 Caligraph has an independent key and type-bar for each letter, thus
avoiding all complication and greatly enhancing speed. The Caligraph is construct-
ed of the most durable materials. There is no cast or even malleable iron used.
Every part is made of cast or rolled steel or brass, by skilled mechanics. It is finely
finished, and with proper care will, like the Sewing Machines, last a lifetime.

Thi Caligraph is a great boon to 3finisters, Lawyers, Manufacturers, Editors, Avihors, Steno-
graphers, Insurance Companies, Bankers, Oovemmeni Officials, Copyists, Teachers, Private Families,
and all who have vyriting to do or children to educate.

Many young men and women have already found pleasant and profitable employment, using the
Caligraph ; any intelligent young man or woman can, by buying a Caligraph and becoming expert in its
use, secure a pleasant and profitable position. The demand for laborers in this field of enterprise is
practically unlimited,]^;,: ,;i;^--:y<:;: - ' '-■;' ■. /■-■/:' •''-■•;::-•••;,:• r-. ■;■?• ■■.'':- '■' ■"■■- ■''''■- -.v'. .-*■■:■. ^ ■

No. 1. Price, including Office Case - • -: K'^ $60 00

, - . ■^--^.^.^•••>V:':■■^■^>•■^-■•■'■■■^'"r^ "*^ 80 00

««

«(

Address

65 00

THE AMERICAN WRITING MACHINE COMPANY.

213 "WEST 3l8t STBEET, - -» - NE"W TOBK. ^,

Weight 10 Lbe. j
No. 1.
195 Broadway, New York, Dec. 2d, 1881.
A. W. M. Co.

Gtntlemen: — The two No. 2 Caligraphs pur-
chased of you for use in the law oflSce of Dillon
& Swayne, are giving excellent satisfaction.
We prefer the large to the small Roman type.
I have used the Type- Writer for several jears,
but the Caligraph is much superior. I cannot
enumerate all the points of superiority, but
will refer to some of them. Its lightness and
portability is a great improvement. It is also
a great advantage to have a separate lever for
each type. This avoids the necessity of shift-
ing from Upper to Lower Case, and the memory
is not so taxed to remember the kind of typo
3'ou are writing with. J .•" '

The arrangement of the letters on the key-
board is the best I have ever seen. The align-
ment is perfect, and the arrangement for retain-
ing it, excellent.

The ribbon movement is sure and easy, and
the shifting of the ribbon requires but a single
touch of the fingers. 4. : ■ . >

The pace-keys on either side is a great con-
venience, and much better than the old way of
having a space bar in front.

Changing the line spacing is done instan-
taneously and with a single movement of the

hand. The bell and stops are in front, and the
parts which require tension are iJl accessible.

Paper of any width can be used, also envel-
opes or postal cards, without changing the
machine.

The variety of type used in the Caligraph is
another great advantage. The lai^e Homan
letters used in your No. 2 are especially admir-
ed by all who have seen the machine or its
work.

I use the machine personally, several hours
daily, and find it all that could be desired.
You are at liberty to refer any one to me you
may desire,

Eespectfully yours.

£. H. SMITH, Stenographer.

,«■■

•T

T-yj^r"

AMERICAN RAILROAD JOURNAL.

-4<

Baker & Godwiirs

PRINTING HOUSE.

ESTABLISHED 1850.

I MODERN RtlLWIkY PRINTING.

pe«i»l attjeittlfkn arlven to this class of worlc.

This esta^shment is very extensive, adapted to every
variety and style of Printing, and the proprietors hope
to be favored with a share of Railway patronage. Esti-
mates furnished on application.

BAKSR & OODWrN", Printers,

No. 25 Park Row,

Dirwjtly opp. Post Office. NE"W YORK.

Printing of all kinds at greatly reduced rates.

' THE RAILWIkY TIMES

AND JOINT-STOCK CHRONICLE.

The Railway Times was established in the year 1837, ana
as consistently maintained the purpose for which it was
tarted — to give an independen taccount of all matters of
Importance to railway shareholders, not neglecting, at
the same time, the duty of keeping its readers well in-
formed on all matters of commercial interest.

It is published every Saturday. Price 6d. The price of
subscription for one year is £1 1«.

No. 2 Exeter Street Strand W. C. London.

KNOX & ^HAIN,

Manufacturers of Engineering and Telegraphic Instru-
ments. No. 716 Chestnut Street, Philadelphia. Two
Medals awarded by the Franklin Institute, and one by
the Centennial.

flOUSATONIC RAILROAD

. THE ONLY LINE RUNNING
T EC DR O TJ O- S C-A-I^S

Bstwesn New York, Great Barrington, Stockbridge, Len-
ox, and Pittsfleld— the far-famed resort of the

Berkshire Hills

Western Massachusetts— the ••Switzerland of America."

Two through trains daily between New York City and
all points on the Housatonic Railroad, from the Grand
Central Depot via the New York, New Haven, and Hart-
ord Kailroad at 8:05 A. M. and 3:43 P. M. ' ; ,

L. B. STILLSON, Supt.
H. D. AVERIIili, Gen. Ticket Agt.
%'t Offices. Bridgeport, a.. A'ot). 7, 1881.

i NO OTHER LINE IS SUPERIOR TO THE

FITCHBURG RAILROAD I

HOOSAC TUNNEL ROUTE

"WEST.

8.30 A

A. DAY

■,•»;■ .

EXPRESS.

rhrough drawing-room car to Rochester, N. Y., connecting witli tlirough sleeping car
lor Cincinnati, Cleveland, Toledo, DETROIT AND CHICAGO,

p. CINCINNATI

M. EXPRESS.

■V y

Pullman Sleeping Car attached, running through to Cincinnati without change. (Onh
Line running Pullman Cars irom Boston.) This car runs via Erie Railway, making direc
3onnection for Louisville, St. Louis, Kansas City, New Orleans, and all points in Texas an(
New Mexico.

P. ST. LOUIS ?

M. EXPRESS.

Boston, Hoosac Tmrnel, and Western

XTSZ

PULLMAN LINE between BOSTON and the WEST,

— VIA THE —

All the Modem Apfliakes-

iinXEB'S PATENT PLATFORMS AND BUFFERS.
. WESTINGHOUSE IMPROVED AIR-BRASES.
COACHES HEATED BY STEAM.
I <-• STEEL RAILS. IRON BRIDGES.

ASK FOR TICKETS VIA THE 1.

HaoMC Tmml am tie N. Ym luE Eiic am Westhi Rr.

THE ONLY LINE which runs a THROUGH SLEEPING-CAR from .

BOSTON TO ST. LOUIS WITHOUT CHANGE!

f ARRIVING AT 8.00 A.M, SECOND MORNING.

Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo:
Kansas, Colorado, Texas, and all points in the , . - , . .

SOUTHWEST.

P. PACIFIC

M. EXPRESS.

The only line running a through sleeping car via Buffalo and Detroit without change,
arriving at Chicago at 8,00 A.M. second morning, making sure connections with through Ex-
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast, Wisconsin, Minnesota
^nd all points in the

WEST AND NORTHWEST.

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED.

niis Great Short Line passes through the most celebrated scenery in the country, including the famotifl

HOOSAC TUNNEL, four and three-quarters miles long, being the longest Tunnel
j . i in America, and the third longest in the world. /.^ • |- •; :

ncket8, Drawlns-Room and Sleepingr-Car Accoiniiiodation!« may 'ic secured In Advance

by Applyinir to or Addressinir

■' » ■;• ■ ■ » > . ' '1..'' '. •
11

WASHINGTON STREET, BOSTON.

250

JOHN ADAMS, General Superintendent. ; -v^^^ :^^

F. O. HEALD, Acting Gen'l Pussenger and Ticket Agent

American railroad journal

First-Class English

IROX AlVD 8TE£L K41LS

AT LONDON PRICES, F. 0. B.

We also purchase all classes of Railroad Securities,
and negotiate loans for Railroad Companies.

WiH A . G U E§T & CO , "

Nos. 41 and 43 Fine Street, New Tork.

Safety Railroad Switches

WITH MAIN TRACK UNBROKEN.

Railroad Crossings, Frogs, and Other
;; i; Railroad Supplies.

MANUFACTUBED BT THK

WHARTON RAILROAD SWITCH CO.,

, - PHHiADELPHXA. -

Works: *i3d and Washington Ave.
Office: t!8 Souih 3d Street.

CAR

PUSHER

MADE ENTIRELY OF STEEL

ONE MAN with it can easily
move a loaded oar.

Manufactured by E. P. DWI6HT,

Dealsb in Railboad Supplies,
407 LIBRARY ST.,

PHILADELPHIA.

FIDELITY AND CASUALTY COMPANY,

Vv CASH CAPITAL/ - ^-^:W^^^^

Bond^ issued guaranteeing the fidelity of persons holding positions of pecuniary trust and responsibility,
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the faithful per-
formance of the duties of employes in all positions of trust.

-AlOOI3DB3?TT FOLIOIES.

Policies issued against accidedts causing death, or totally disabling injury, insuring from Fmc Huvdbed
DoLLABs to Ten Thousand in case of death, and from Thbee Dollabs to Fifty weekly indemnity in case of dia
abling injuries.

WM. M. RICHARDS, iV«'«. . JOHN M. CRANE, .S«ry.

IDIR,EOrrOR,S

George T. Hope. "

G. G. WillLia.ms.' .;:
J. S. T. Stranaban,

H. B. Clatljn,
A. S. Barnes.

H. A. HURLBUT.

W. G. Low. ^
Charles Dennis.
S. B. Chittenden.

George S. Cor.
Wm. M. Richards,
a. B. Hull.

PARDEE CAR WORKS.

A.lyffBR,IO-A.N-

COMBINATION S A W.

• Without Lathe.

.WATSONTOWN, PA.

PARDEE, SIOER k (0., UlUITED

PKOFRIETOKS.

^NffeLxiixflstotvirers of

Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, (/oal, Mine, and Hand Care;

Kelley's Patent Turn-Tables, and Centers for Wooden Turn-Tables;

Car Castings, Railroad Forgings, Rolling-Mill Castings,

. ; . Bridge Bolts and Castings, v

tSfWe have, in connection with our Car Works, an extensive Foundry and Machine-shop, and are preparad
to do a general Machine Business. : , :7- : > 1

iv / Chairman,
ARID PARDEE.

Treasurer and General Manager,
H. F. SNYDER. » i

Secretary,
N. LEISER.

Price $6 without Lathe ; with Lathe, $8.

' AODRSSS THE MANUTACTDKBaB,

C. M. CliANDALL &. CO.,

MONTROSE. Susquehanna Co.. PA.

NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY.

C. "W. LEAVITT, Agent. '

fSTEEL
CASTINGS

FEOM 1-4 TO 10,000 lbs. WEIGHT.

True to pattern, sound and solid, of unequaled strength, toushness and

durability.
An invaluable substitute for forgings or cast-irons reqairing three-fold

strength.
CROSS-HEADS. ROCKER-ARMS. PISTON-HElDS. ETC., foi

Locomotives
15,000 Crank Shafts and 10,000 Gear Wheels of this steel now mnniny

prove Its Puperiorityover other Stoel Castings.
CRANK-SHAFTS, CROSS-HEADS and GEARING, speciahiea.
Circulars and Price Lists free. Address

CHESTER STEEL CASTING CQ.

407 l.lbrary St., PHILADELPHIA
'Works, CH£ST£R. Pa.

JiEW YORK, U|E E RIE, AMD ff ESTEBI BAltffAI

^ . ;; ; ^ to the tr^a.-v-eliHsto fxjblio. ^^ ,

During the Centennial season— six months closing September 10, 1876 — ^the Erie Railway cairied almcit
Thbee Million passengers, without a singe accident to life or limb, or the loss of a piece of baggage.

And for a whole year the official records of the United States Post Office Department show the itrirala •
Erie Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competing lines.

Facts well worthy the consideration of travelers. '' ' ,' ■

E. S. BO^WEN, General Superintendent.

JNO. N. .ABBOTT Om.

:i.:'

>v.

AMERICAN RAILROAD JOURNAL.

Thia material is iudistructible and therefore valuable lor all purposes of

HEAT,

1 •

80UJ\D

--A.N-ID-

FROST-PROOFING.

Over 3,600,000 lbs. now in actual use ; 614,000 IbH. of which haVe been applied in cars as shown in diagram.

Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution.

Sample and circular free by mail.

UNITED STATES MINERAL WOOL COMPANY,

N"o. IS Oortlandt Street,

N-B'W "YOR.IC.

EAGLE

TVBE CO.,

614 TO 626 WEST 24TH ST

New York.

Boiler

Tubes,

Of all reg^ular sizes, of the

besi material, and

warranted.

Locomotive Water-Grates a

specialty, and 2e; per cent

below regular prices.

THE PERFECTED

REMINGTON

Prices lower than other Mannfactnrers.

wo PAYMENT REQUIRED U^Tlii

TUBES ARE TESTED AND

SATISFACTORY.

MB —Send for Stocic List.

ALOJNZO FOLLETT,

Negotiator of prime Commer-
cial paper at Low Rates. Does
not solicit and will not take
hold of any but concerns whose
paper is A 1.

TYPE-WRITER.

A "WRITING - MACHINE which combines
ease with rapidity and accuracy,

and economy with elegance
' and convenience.

Adap^d to general use. Every machine
guaranteed.

Send for Circulars with names and testimonials of
recent patrons.

, E. HEMGTON & SONS,

281 aud 283 Broadway, New York.
38 Madison Street, Chicago.
124 South 7th Street, Philadelphia.
21 Soutli Howard St., Baltimore.

[MAoAion tfaAs pa#«r.]

Piiine, Webber & Co.,

! Bankers and Brokers,

IVo. S3 Oevonsliir«> St., Bo<9ton.

(Members of the Boston Stock Exchange.)

Devote special attention to the purchase and sale of
Stocks and Bonds in the Boston market, the careful se-
lection of securities for investment, and the negotiation
of commeicial paper.

Wm. a. Paine. Wallace G. Webbeb. C. H. Paine.

ALL ABOUT KA^rSAS

RAILROAD IRON.

The undersigned, agents for the manufacturers, ar«
prepared to contract to deliV2r best quaJity American

Welsh Steel or Iron Bails, and of any required
weii^ht and pattern. Also Speigel and Ferro Manganese.

PERKINN & CHOATE,

33 Nassau Street, WICW TORIf.

John H. Davis & Co.,

BANKERS AND BROKERS,

IVo. 1? l¥all St.. nK'W %ork.

THE WEEKLY CAPITAL is an eight-page, 48-column
paper, published at Topeka, Kansas, giving full and re-
liable State news, crop and weather reports from every
County. fl.OO per year. Sample copy free.

Interest allowed on temporary and standing deposits.
Stocks and Bonds bought and sold on Commission only,
either on Margin or for Investment.

_ ; !

ISSTABLiISHBD IN 1836 ~l '

LOBDELL GAR WHEEL GOMFANI,

IVilmington, Delaware*

GEORGE G. LOBDELL, JVMideni. . • j

WILLIAM W, LOBDELL, Secretary.

P. N. BRENNAN, Treasurer.

J. C. BEACH, Treas.

C. H. ANTES, Sec-y.

THE

:1^

ALLEN PAPER CAR WHEEL COM.

GenM Officr, 340 Broadw«y, N. Y.

WoBKs AT Pullman, III., and Hxtdson, New Tobk.

AN INDESTRUCTIBLE WHEEL FOR PASSEN-
GER CARS AND ENGINES. i -

E. W. Vandebbilt.

E. M. Hopkins.

VANDERBILT & HOPKINS,

Railroad Ties, ^

Car and Railioao Luhui, White aid Yeuow Pme and Oal
120 Liberty Street, W. Y.

Also North Carolina Pine Boards, Plank, and Dimen-
sions Lumber to order. General Railroad Supplies.

A-

:h.'.;t-:

r . *. ■ ■»

steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures.

Second Quarto Sebibs. — ^Vol. XXXVni., No. 2.]

NEW YORK, JAWTJARY 14, 1882.

[Whole No. 2,386.— Vol. LV.

Perpetuation of Testimony in Patent
..- Suits. ,;■-■;■■ . '--:

A CASE in equity of considerable interest to
patent lawyers, as well as to legal antiquarians,
-has been decided by Judge Benedict in the
United States Circuit Court for the Eastern
District. The complainant, it appears, has been
infringing a certain patent owned by the defen-
dant, and now files his bill in equity under
section 866 of the United States Revised Sta-
tutes to have recorded in the court the testi-
mony of a witness upon which the complainant
alleges that he relies to show that the patent is
void for want of novelty, in case a suit shall be
brought against him by the defendant for the
infringement. The witness is a very old man,
and the complainant further alleges in his bill
that the defendant is waiting for the witness to
die before bringing his suit, so that the com-
plainant may be deprived of the protection
afforded by his te"itimony. On this ground he
prays that the testimony may be recorded in
perpetuam rei memoriam. The defendant de-
murred to the bill, and Judge Benedict, by the
decisoin referred to, has overruled the demurrer.
The interest of the case to patent lawyers arises
from the fact that, so far as appears from the
books, no such suit has ever before been
brought in any case involving patent rights,
nor, in fact, has any bill for the recording of
testimony strictly in perpetuam rei memoriam
ever been pleaded under the section of the Re-
vised Statutes referred to. One of the points
made upon the argument was that the bill
ought to be dismissed because the complainant
was able to obtain a iy^ judicial settlement of
his rights by inducing the Attorney-General to
bring a suit in the name of the United States
to annul or repeal the patent. But waiving the
question whether such a suit could be brought
in the name of the United States, Judge Bene-
dict decides that the complainant has no power
to bring such a suit, nor is it such a remedy as
to deprive the complainant of his right to insti-
tute the present proceeding. Legal antiquari-
ans will also find interest in the decision on
account of the antiquated character of the pro-
cedure. In England at the present time, and
generally in the United States, the subject of
the perpetuation of testimony is regulated by
special statutes giving a summary course of
procedure for that purpose. The ancient prac-
tice of obtaining the same end by bill in equity
survives only within the production of a few
Of the older States and of the Federal courts.

which still follow in these matters the English
practice of the time of Lord Eldon. A curious
feature of the practice is the taking of the testi-
mony in perpetuam rei memoriam immediately
after the cause is at issue, without waiting for
the complainant to establish his right to do so
by proof, an anomally which Prof. Langdell in
his summary of equity pleading thinks arose
from confounding the testimony to be perpetu-
ated with the testimony to establish the right
to perpetuate it. If this explanation is correct,
it furnishes a striking instance of the way in
which the force of reason is sometimes over-
ridden in law by the power of long-established
usage. Richards & Heald, and Henry P. Star-
biick, appeared for the complainant, and Good-
rich, Deady & Piatt, for the defendant.

The Barings.

iHE Barings have been among the most
famous of English bankers. They are of Ger-
man stock. There is a kind of ecclesiastical
flavor about them. Their English founder was
a Bremen Pastor, who settled in this country.
His grandson married the niece of an English
Archbishop. One of his descendants became
Bishop of Durham. The money was originally
made in the rich, profitable clothing business
in the West of England. Going into the old-
fashioned church of the pleasant Devonshire
to\^ of Ashburton one day, we were greatly in-
terested by the Baring monuments. Ash-
burton gave a title in the peerage to the chief
of the house of Baring. It has been a rule in
the house that when any one of them has got a
title he goes out of the business. Sir Francis
Baring, the first great banker, who, dying in
1810, left a fortune of two millions, had three
sons — Thomas, Alexander, and Henry. Thomas
succeeding to the baronetcy, gave up the busi-
ness. Henry hsid rather a romantic reputation
as a lucky gambler, who was frequently able to
break the bank of a gambling- table. He was
the amazement of beholders, when he would
sit down at a gambling-table at the Palais
Royal — before such tables were happily abol-
ished — with piles of gold and notes before
him. The reputation of a successful gambler
was hardly suited to the intense respectability
of the firm, and Mr. Henry was induced to re-
tire from the business. Alexander Baring,
often known as "Alexander the Great," sus-
tained and extended the fortunes of the house.
He went to America, there the richest banker in
England, married the daughter of the richest

citizen of the United States. One of his gigan-
tic transactions possesses a historical import-
ance. After the conclusion of the great Euro-
pean war he paid down a sum of £1,100,000, by
which France was freed from the occupation
of Russian, Austrian and German armies.
"There are six great powers in Europe," said
the Due de Richelieu—" England, France,
Russia, Austria, Prussia, and Baring Brothers."
In 1835 he was made Lord Ashburton. Two of
his sons held the title, and each successively
retired from the business. The head of the
firm, Thomas Baring, became Chancellor of the
Exchequer in Lord Melbourne's Ministry, and
another member, Lord Northbrook, has been
Governor-General of India.— iondonSoc?«<t/.

The Cable Railway.

No improvement has ever been made in the
city of Chicago which has been regarded with
as much interest as the cable railway which
has been in course of construction on the
South-side by the South-side Street Railway
company during the last six months. Its near
completion only adds to this interest, and it is
asserted that the value of property along the
line of the road and at the southern terminus
has increased in propoi'tion to the progress of
the work. The construction of this new mode
of transportation is the work entirely of the
South-side company, the president, Mr. Holmes,
having visited and studied the system thor-
oughly in San Francisco, upon which he made
his report to the directory, that ordered him
to adopt and perfect it at once. It has caused
some bad feelings during the temporary aban-
donment of State street by the companj', but
now that the work is almost done and the peo-
ple begin to understand the great expense in-
volved and the blessings to come therefrom,
they are beginning to take pride in it and long
for its aetive operation. There are nine miles
of road constructed in the most approved plan,
steel rails having been used. This is an im-
provement over all other cable roads. The ex-
pense attached to building the road has been
about $2,000,000. The department of mach-
inery and all of the mechanical appliances are
acknowledged to be the best in the world, and
in very many respects are decided improve-
ments on other systems. One of the special
features that has been especially commended is
the large winders and sheaves ; these are con-
sidered very important factors and are for the
purpose of preventing crystallization of the

t'A'^AnAf. -_£, ^ J; .

*^'^ ''J 'V -.

?''"■;.■.•.

■-.^

AMERICAN RAILROAD JOURNAL.

iX ''•fY

rope. The very best material has been used in
the construction of the cables. An interesting
study is the gripping device, which is claimed
to be another improvement over any other
cable sj'stem adopted heretofore. Special plans
have been taken to prevent its wearing on the
rope. The imi^ortance of this will be better
understood by the public when the road will
be in active operation. The grip-cars which
have been constructed by the company are very
artistic in their appearance. Forty-two of these
have been built by the company. To these
the ordinary street cars are attached. Some
inquiry has been made as to the mode by which
these cars will be stopped. Mr. Holmes says
that by means of a very ingenious device which
controls and manipulates the tension wheels
no diflSculty will be experienced in the stop-
pages, or trouble anticipated from the severity
6f the weather. In case snow or ice should
obstruct the cable chain, such obstruction will
be easily removed by means of a steam pipe
heated for that purpose. The working of the
machinery, it is claimed, creates no unpleasant
noise to the ear. The starting or stopping will
be milder than in the present system, all of the
sudden checks or jerkings being avoided. The
motion will be easy and uniform. In respect
to rapid transit it will be a revolution in city
travel, and a ride in one of the coaches over
the bed road will become a luxury instead of a
dread, as on the old system. The South-side
company claims to be the first city railway in
the world to adopt steel rails and t^he 21-foot
car. The company announce that the cars are
to be run with a special view to the comfort of
the public. They propose that not only shall
Chi 3ago enjoy the system, but that it shall be
run upon a principal which will reflect upon
the city from abroad. The system has already
created great interest abroad, the result being
that capitalists from Eastern cities have already
come to Chicago to see its workings. Mr.
Holmes is very much opposed to the proposed
change in the name of State street, inasmuch
as he has that name ground in the class of all
his cars. In regard to the date upon which the
system will go into operation Mr. Holmes is
not certain, but says it will be in the very near
future. — Chicago Ti7n€s.

Strength of "Wooden Columns.

. As extended account of his experiments at
the Watertown Arsenal to test the strength of
wooden, columns was recently given before a
meeting of the Society of Arts at Boston, Mass.,
by Prof. Lanza. The main results deduced
were that wooden bolsters or caps at the top of
the columns are a source of weakness, as was
proved in an experiment where the bolster was
crushed with a pressure of 20,000 pounds, while
the column did not yield until 375,000 pounds
were brought upon it ; that the estimates of
strength based upon formulas contained in the
books are untrustworthy, as was proved when
a column which by the formula should have
withstood 8,000 pounds gave way at 4,000
pounds; that allowance must be made on ac-
count of eccentric pressure, that is, weight
brought by the timbers of a heavily loaded
floor upon one side of a column, not counter-

acted by corresponding weight upon the con-
tiguous timbers of an unladen floor; that pint-
les are a source of weakness if not set square
and true, whereby a rocking pressure may be
brought upon the column ; that the deflection
or springing of a column is unimportant com-
pared with weakness arising from a knot or
crooked grain, and that the text books on me-
chanics need to be amended by having a new
set of tables compiled from data obtained from
experiments on full-sized timber, such as is
used in building.

^»—

Mineral WooL

One of themost striking illustrations of the possi-
bilities of icvention in turning waste substances in-
to important articles of utility is £een iu the conver-
sion of theslagofirrn Rmelting furnaces into min-
eral wool. Up to within a few years this slag was
considered .is a worthless incumbraDce that was con-
stantly increasing about the iron works premises,
excepting as it was carted oflF to be used for roads,
where it was only after a long amount of travel that
it could be so ground up by the passage of horses
and vehicles as to be considered desirable as a road
bed A few years ago however a process was dis-
covered by which this waste was destined to be
turned into an article of great practical value ii:
numerous ajnd widely varying directions. It Wms
discovered that the slag while in a molten condition
if penetrated forcibly by a jet of steam or compressed
air, went through , a most curious transformation, a
r».sult of which was the production of a fibrous arti-
cle resembling wool in appearance. After consider-
able experimenting a process of manufacture was de-
vised and patented, by which in a very simple man-
ner the slag was changed int) a product called min-
eral wool and in such perfection as to be ready for
use incmediately.

The experiments and improvements of the past
few years have resulted in the process of manufac-
ture as carried on now at Stanhope, N. J., which in
brief is as follows : While the slag is still in a fluid
state, it is allowed t > fall in a small stream, from a
suitable vessel, upon a jet of steam or compressed
air, the eflFect of which is to di?i-tegrate the molten
slag, which cools as it is carried forward in the form
of wool, resembling sheep's wool and cotton. The
instantaneous separation causes a thread or fibre to
be pulled out, which varies in length, thick&ess and
color, according to the fluidity and composition of the
slag. When gathered up, the fibres appear to lie
in all possible directions with relation to each other,
in consequence of which there is no parallelism or
common direction to the threads, so that the air
spaces are angular in shape and microscopic in size.
The wool is collected in a large chamber, where it
settles in a bulky state, having a fleecy appearance.
About eighty per cent of the product has to be rid-
dled, forming the ordinary grade, r^-hile the balance
IS separated py currents of air, and forms the extra
grade.

The uses to which mineral wool has been success-
fully applied as a non-conductor of heat and a non-
transmitter of sound are almo t innumerable while
new uses for it are constantly beijig discovered by
mechanics, builders and scientists. The underlying
principle of the application and utility of mineral
wool is the one long established in physics, that air-
confining or porous bodies are the poorest conduct-
ors, and that the passage of heat is retarded in pro-
portion to the volume of air the insulating material
holds from circulation. It is used on houses by ap-
plying a thickness of about two inches to the roof, to
prevent the passage of the sun's heat in summer

and the escape of warm air from the house in win-
ter,* it is used in ice houses, about steam-pipes, in
hotels, in car building and kindred purposes to a
great extent and in the construction of fire proof
rooms, it being absolutely fire proof and durable in
contact with heated surfaces ou account of its having
no organic matter in its composition. The Health
Commissioners of this city, at their conference with
the master plumbers last November strongly recom-
mended as a sanitary precaution that boilers, ranges
hot and cold water supply pipes in exposed places be
packed with mineral wool and properly cased int An
idea of the cheapness of the wool is seen in the fact
that the cost of a filling two inches thick for 100
square feet of surface (416 lbs ) is only $4.16 for the
ordinary grade at the works. About 3,000,000
pounds of this useful and economical article are now
in use, and the United States Mineral Wool Co. at
their office 16 Courtland St., have many vjluuble ref-
ererces as to the satisfactory results attending its ex-
tended adoption. I

English liocomotives in America.

English engineers will be somewhat sur-
prised to learn that the order has been obtained
in the country for a considerable number of
American locomotives for railways in America.
They are now being built from the designs and
instructions of Mr. James Cleminson, M.I.C.E.,
Westminster, by a leading North of England
firm, and are on the true American type, as re-
presented in Baldwin's America, Mogul, and
consolidation classes, though some slight modi-
fications are made in the arrangement of the
compensating beams. The system of compen-
sation is carried out completely, so that the
wheels must bear with full weight on any road,
just as the speculum of a large telescope is
supported on Lord Rosse's or Grubb's system
of connected levers. It is expected that the
engines will show what can really be done by
locomotives on the American type built on the
best English methods and workmanship, and
we shall probably learn how much truth there
is in the off repeated statement that American
locomotives will haul a greater load, weight for
weight, and cylinder for cylinder, than those of
the English type. — London Engineer, Dec. 10.

A Wild Texas Charter.

Chakters for private corporations or profit
can be had by simply preparing and filing
them after paying the fee fixed by law in the
State Department. It is reported that a charter
for a narrow-gauge railway to every point in
Texas has been recently filed. It calls to mind .
a story told by Swift of a country parson in
England who was given to the use of very :
strong language for one of his cloth. His clerk,
who was allowed to use his own discretion in
the selection of the hymn with which the ser-
vices were opened, had already on several suc-
cessive Sundays commenced with the one be- .
ginning : "All people that on earth do dwell."
When he read it out again on another Sunday
the parson was heard in a suppressed voice to

exclaim : " all people that on earth do

dwell !" which, says Swift, was the most com-
prehensive anathema of which he had ever

he&rd.— Austin {Texas) Siftings. I

^ ' ■ " "

The Syndicate have undertaken the construc-
tion of the Vancouver Island Railway. {

AMERICAN RAILROAD JOURNAL.

PTTBLISHEB WEEKLY BY THE

AMERICAN RAILROAD JOURNAL CO.,

At 23 Liberty Street, New York.

Subscription, per annnm, in advance $5 00

Foreign Subscription, including postage 6 00

Purchases for the Amehican Raileoad Jouknal Co. are
authorized only by the written order of Geo. F. Swain,
Treasurer; and fhe Company will not be responsible for
the payment of bills unless accompanied by such order.

Subscribers are requested to report to our office any
irregularity in receiving the Journal..

Contributed articles relating to Railroad matters gen-
erally, Mining interests. Banking and Financial items.
Agricultural development, and Manufacturing news, by
those who are familiar with these subjects, are especial-
ly desired.

Payments for advertising and subscriptions should be
made by check payable to order of the Treasurer.

BRANCH OFFICE:
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Mr. Frederic Algar, Nos. 11 and 12 Clements Lane,
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ized European Agent for the Journal.

New York, Saturday, January 14, 1882.

Entered at the Post Office at New York City as Second-Class
Mail Matter.

RAILROAD COMMISSIONERS AND
RAILROADS LN" CONNECTICUT.

IN few States has the utility of a well
constituted Board of Railroad Com-
missionei-s been better illustrated, or the
duties of these officers more satisfactorily
performed, both in the estimation of the
railroad managers, the people and those
outside of that State, who have been in-
terested in suggestions arising there, and
in measures adopted after their examina-
tion and recommendation, than in Con-
necticut. Being one of the first States
to establish such a commission, Connecti-
cut has been looked to as one of the
prominent localities from which should
emeriate many ideas, tending to improve
the relations between the railroads and
their employees, and the people, and to be
of practical value to railroad managers
themselves, in varied details connected
with the workings of their roads. The
Commissioners of that State, have done a
vast amount of work within the past few
years, in giving careful hearings and
practical tests to theories, complaints and
suggestions placed before them, the
results of which are conspicuous among
the improvements adopted, and conclu-
sions generally accepted in railroad cir-
cles. And this work, while persistently
prosecuted, has been accomplished in
such a manner as not to create the dis-
turbance and unpleasant relations, which
unfortunately have been witnessed in
other localities between commissioners

and those with whom their dnties have
brought them in contact. v •

An important reason which has con-
duced to this desirable result, is that the
people of Connecticut have not deemed
it best to confer excessive power upon
their Commissioners, in regard to such
questions of transportation, as form so
large a part of the duties of similar
officers in other States ; those aiming to
enforce measures judicious, or otherwitJe,
for the suppression of alleged opportuni-
ties for unjust discrimination and exac-
tion. Connecticut, to be sure, is not a
field where complaints about discrimina-
tion would be expected in any such ex-
tent, as in States where there were special
motives for favoring certain localities and
parties, where a hot rivalry existed as to
the development of certain seaports or
markets. Situated between New York
and Boston, and having no rival seaport
of her own, Connecticut can turn to either
of these great markets with about equal
facility and avail herself of such advan-
tages as either may choose to offer, pros-
pering with the prosperity of both, and
enjoying the effect of their rivalry without
serious, local disturbance, or inconveni-
ence to herself.

The ownership of Connecticut railroads
is peculiarly local, as is the management,
the roads being owned and managed
largely by people living in the sections
through which they pass. On this ac-
count it is possible to lay complaints
which arise promptly before the railroad
managers themselves, instead of before
their representatives, in which way, by
personal communication, the cause for
complaint can be clearly understood and
rectified, and frequently their unreason-
ableness readily and satisfactorily demon-
strated, without the tedious and annoying
delays of red tape required M-hen the
officers of the road are far removed and
not interested in the local affairs along
their lines. The manufacturing, commer-
cial and agricultural interests of Connec-
ticut, are peculiarly fortunate in that the
roads of their State are so largely under
home management and ownership, and
the Commissioners thereby are relieved
fi-om duties which would interfere with
their important work pertaining to other
practical matters.

But the success which has attended
the work of the Connecticut Railroad
Commissioners and the desirable position
maintained by them in the estimation of

similar Boards and the general public,
while greatly assisted by the conditions
mentioned, are largely due to the great
pains taken to apply to the practical
questions brought before them the most
careful consideration and such tests as
would be considered reasonable and just
by experienced railroad men. They have
been better enabled to do this on account
of the wisdom which placed upon the
Board as one of its active members, a
man who has been all his business life a
practical railroad man. An illustration
of this manner of working, is seen in the
coui-se pursued in the matter recently
agitated in that State concerning the
enactment of a law, requiring railroads to
aodpt a safety car-coupler. A bill to this
effect was last year referred by the Con-
necticut Legislature to the Commission-
ers with instructions to report upon the
subject this year. Accordingly a public
investigation was held at the Commis-
sioners office in November last for two
days, after liberal announcements -con
cerning the same, at which a variety of
patents were submitted and examined.
This investigation was supplemented by
further examinations and by personal in-
quiry of railroad men, in various positions
and in different parts of the State. We
have briefly referred to some of the
causes which resulted so admirably i« re-
gard to the relations established by this
particular Board of Commissioners be-
tween themselves, the people, the rail- j
roads and their employees, believing that j
some of these causes hinted at, might be j
utilized to advantage in the organization !
of similar Boards in other localities. As i
an illustration of an unprejudiced opinion, i
we conclude by quoting from their recom-
mendation concerning the car-coupling i
question, which, with the addition of the \
recommendation of some simple and j
cheap method of improving the couplers
of old cars was as follows : —

" We would therefore recommend the
enactment of a law requiring that all
freight cars hereafter bought or built by
the corporations operating railroads ini
this State, shall be equipped with auto-i
matic couplers, the draw-bars of which!
shall be at the uniform height which has
been recommended by the master car-
builders, and with dead-blocks sufficient-
ly thick to give not less than one foot
clear space between the cars, when the
blocks come together, and that similar
draw-bara and couplers should be made

..^■^M.^'i..^\ '-■i-v.?-'^'.. -. rt. ■:.M-v ■

AMERICAN RAILROAD JOURNAL.

use of in all renewals. If it is obiected
that this is a half way measure, we
answer, that is just what it is intended to
be. To require our companies to substi-
tute, at once, automatic couplers for those
now' in use on their more than eiffht
thousand freight cars would, in our jud/
meut, be imposing an unreasonable burden

of expense." j

GOSHEN SUPERHEATING SAFETY
BOILER. I

THE Goshen Fdundry and Gas Mach'
uery Co., are receiving most satisfac
tory results from the practical tests wliicb.
have been given of late, to their Goslien
Superheating Safety Boiler, patented last
spring. Some of these boilers in actual
use, have affected a saving of 20 per cent,
and upwards, in fuel over boilers replaced
by thfm. Seven hundred and fifty
pounds of coal is considered to -be the
consumption required for running a 40
horse power engine, averaging from GO
to 70 pounds of steam, for \'2 hours with
this bf)iler, which evaporates 15 pounds
or more of water, to one pound of coal.
Some of the peculiarities and advantages
of the boiler are, that each section of 5
horse power is separate and can be re-
moved for repairs without interfering
with the other parts of the boiler ; that it
generates dry steam, is non-explosive and
has a remarkably large heating surface,
and also a very small grate surface. At
the company's office, 37 Dey street, under
the charge of Mr. Benj. Hornor, General
Agent, can be obtained further informa-
tion concerning what the valuable im-
provements possessed by the Goshen
boiler have accomj)]ish«d and illu.strated,
in the wav of economv and durabilitv.

sheet, attached to the mask. The interval be-
tween the mica and the eyes allows of workmen
who have poor eyesi^^ht wearing spectacles, and
of W(»rkers m ith tire or in melting operations
wearing colored glass spectacles under the
mask, without fear of breakage of the glass,
mica Leing such a bad conductor of heat.
Where the mask has to be worn long it is found
desirable to add a caoutchouc tube with mouth-
piece for admission of fresh air ; the tube
passes out to tlie shoulders, where its funnel-
shaped end (sometimes holding a moistened
sponge) is sui>ported. The mask has a sort of
cap attached to it for tixtiire on the head.

PERSONAL.

Mica Masks.

A wELL-KNowx German manufacturer of mica
wares, Herr Raphael, of Breslau, now makes
mica masks for the face which are quite trans-
parent, very light and atfected neither by heat,
nor by acids. They afford good i^rotection to
all workmen who are liable to be injured by
heat, dust or noxious vapors ; all workers with
fire, metal and glass melters, stonemasons, etc.
In all kinds of grinding and polishing work the
flying fragments rebound from the arched
mica plates of the mask without injuring them.
These plate's are fixed in a metallic frame,
which is well isolated by means of asbestos, so
as not to be attacked by heat or acid. Thesa
masks allow the turning of the eyes in any
direction, and, as against mictx spectacles, they
afford the advantage of protection to the whole
face. In certain cases, the neck and shoulders
may also be guarded by a sheet of cloth impreg-
nated with tire-proof material, or by asbestos

Ex-PosTMASTEK Genekal James lias assumed
the duties of his new position as president of
the Lincoln National Biink.

Justice Gray. was sworn in on the Uth inst.,
and took his seat on the bench of the United
JStates Supreme Court, at Washington.

GEoiuiE Skixxee has been appointed Superin-
tendent, and Joseph llobinson Treasurer and
Assistant Superintendent of the Scioto Valley
liailroad.

James D. S:.uth, of Stamford, Conn., has
been upiwintej by the Governor, State Treas-
urer, in the place of David P. Nichols, de-
ceased.

Wm. C. Egleston, of' this city, has been elec-
ted a director of the Cleveland and Pittsburg
Railroad Company, in the place of F. T. W^al-
ker, deceasd.

Benjamin F. Newcomer has been elected a
director of the Philadelphia, Wilmington and
Baltimore Railroad Company, in the place of
Samuel Harlan.

Frank M. Barker has been appointed to en-
gineer the survey of 70 miles of road which is
to be built frpm Corry, Pa., to Buffalo. His
headquarters will be at Erie.

IsA.4c Hinckley has been re-elected presi-
dent ; 'A. J. Cas.satt, vice president, and Robert
Craven, treasui-er of the Philadelphia Wilming-
ton and Baltimore Railroad Company.

Dr. John W. Draper, author of "Intellectual
Development of Europe, " history of "Ameri-
can Civil War," and " Conflict between Science
and Religion," died on the 4th inst., aged 71,
at his home, Hastings-on-Hudson, N. Y.

John C. Gault has been appointed second
vice president and general tratfic manager of
the Wabash system, with Robert Andrews, gen-
eral superintendent ; aud W. F. Merrill, as his
assistant. The ticket and freight departments
have been placed under the charge of H. C.
Townsend and H. C. Bird respectively.

Charles W". Case has been appointed super-
intendent of the Hastings and Dakota Division,
of the Chicago, Milwaukee and St. Paul Rail-
way, with headquarters at Minneapolis, Minn. ;
Fred D. Underwood, superintendent of the
Southern Minnesota Division, with headquar-
ters at La Crosse, W^is. ; Henry R. Wilson,
superintendent of the Iowa and Minnesota
Division, with headquarters at Minneapolis, j
Minn.; John Jackson, superintendent of the
Sioux City and Dakota Division, with head-

quarters at Sioux City, Iowa. George W. San-
born continues as superintendent of the Iowa
and Dakota Division and branches, with head-
quarters at Mason City, Iowa. N. Monsarrat
has resigned the position of general superinten-
dent of the Chesapeiike, Ohio and Southern
Railroad, to become general superintendent of
the Cleveland, Akron and Columbus Railroad.

John G. Motley has been appointed superin-
tendent of the Southern Division of the Mobile
and Ohio Railroad. ''

Engineer John M. Unglaub who had chaise
of the engine of the train on the Baltimore and
Potomac Railroad, conveying ex-PreEident and
Mrs. Hayes, and family from W^ashington, on
the 5th of March, 1881, which was run into by
an extra train going South, and who stood so
manfully at hit post, reversing the engine as
soon as he saw the extra, has recovered from
the injury* sustained by him at that time, and
resumed his place on the road. On the 2d of
January, he was waited upon by a personal
friend of the late President, who handed him a
fine gold watch and chain, valued at $700, ac-
companied by a letter from Mr. and Mrs.
Hayes, asking him to accept it as a token of
their gi-atitude and memento of his coolness
exhibited on that occasion. The watch was
made to order in Philadelphia, and on the
outer case there is a monogram, "J. M. U.,"
and on the inside of the case is a suitable ip-
scription, but Mr. Unglaub, having been
charged not to allow it to get into the papers,
the exact inscription cannot be procured. .

i^»—

ORGANIZATION.

The Wilmington, Wrightsville and Jackson-
ville Railroad Company was organized in Wil-
mington, N. C, on the 29th ult. with Joseph
T. Foy president. Books of subscription are
to be opened along the line of the proposed
road.

The John P. King Manufacturing Company
was organized at Augusta, Ga., on the 28th ult.
with a capital of $1,000,000. Charles Estes is
president and C. C. Baldwin, of New York, and
O. H. Sampson, of Boston, are among the di-
rectors.

The directors of the Milford and Bay Shore
Railroad Company, elected on the 5th inst.,
are A. J. Cassatt, John P. Green, William A.
Patton, John W. Hall, Isaac Jump, George V.
Massey, Bradford Murphy, and Josiah Bacon.
The officers are : President, Manlove Hayes ;
secretary and treasurer, Wm. T. Smithers.

The Brooklyn and Long Island Railway
Company, who propose to build a railroad from
the Blackwell's Island Bridge through Long Is-
land City and Brooklyn, have elected the fol-
lowing directors : Richard G. Phelps, Ludwig
Semler, James R. Allaben, J. Corbin, E. H. Cole,
F. T. Parson, David H. Fowler, Nathaniel
Biggs, W. F. Bruff, E. O. Phelps, Alexander
Dugan, E. S. Keller and M. C. Earl.

The directors of the Erie and Huron Railway
Company, elected on the 29th ult. are : Hon.
Arch. McKellar, J. B. Bain, Alex. Trerice,
Dresden; L. H. Stevens, Chatham; F. A. Man-
ning, A. MacNabb, Vernon Smith, Toronto. A
meeting of directors was held immediately

.i ■

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AMERICAN RAILROAD JOURNAL.

afterwards, when Hon. Arch. McKellar was
elected president of the Board, Mr. Trerice,
vice president; and Mr. MacNabb, secretary.

The directors of the Baltimore and Delta
Narrow Gauge Kailway Company, elected on
the 5th inst., are : Wm. H. Waters, James P.
Streett. C. J. Moore, Stevenson Archer, Eli
Tucker, E. S. Rogers, Caleb T. Taylor, S. G.
Boyd, Thomas Armstrong, C. W. Hatter, G. O.
Wilson, Henry R. McNally and Foulk Jones.
The officers are : Wm. H. Waters president ;
S. G. Boyd, secretary ; Thomas Armstrong,
treasurer, and C W. Hatter, auditor.

At the annual meeting of the stockholders
of the Cleveland and Pittsburg Railroad Com-
pany, held at Cleveland, O., on the Ith inst.,
the following directors were elected: J. N. Mc-
Cullough, B. F. Jones, George B. Roberts,
William Bucknell, Frederick Sturges, S. J. Til-
den, Charles Lanier, William C. Egleston, E.
A. Ferguson, J. V. Painter, James F. Clark and
R. P. Ranney. The election of officers rests
with the lessees of the road, the Pennsylvania
Company.

The directors of the Dayton and Union (a
branch of the Cincinnati, Hamilton and Day-
ton) Railroad Co., elected on the 4th inst. are :
James McDaniel, P. Smith, R. D. Marshall, of
Dayton ; J. H. Devereux, E. R. Thomas, W. H.
Poppleton, Stevenson Burke, of Clev»5land ; F.
H. Short, John Carlisle, of Cincinnati. The
officers are F. H. Short, president ; Stevenson
Burke, vice president; G. H. Russell, secretary
and treasurer, E. B. Thomas, general manager;
P. A. Hewitt, auditor.

The directors of the Topeka and Western
Railroad Company are : William B. Strong of
Boston, 0. C. Wheeler of Topeka, G. G. Dexter,
J. T. Burr. Alden Speare, C. L. Thorndyke, W.
Powell Mason, Elisha Atkins, F. L. Ames, all
of Boston : Sidney Dillon of New York, Gov.
Veale of Topeka, E. B. Purcell of Manhattan.
The capital stock is fixed at $6,000,000, divided
into 60,000 shares. This new road is to starf
from Topeka, Kansas, thence to the town ot
Eskridge, in Waubaunsee county, and on
through Morris, Dickenson, Saline, Ottawa,
Lincoln and Osborne counties. Its length will
be 250 miles.

The directors of the New Haven and North-
ampton Railroad Company, at their meeting in
New Haven on the 4th inst., elected the fol-
lowing Board of Directors : C. N. Yeamans,
George J. Brush, Daniel Trowbridge, Horatio
G. Knight, William D. Bishop, George H. Wat-
rous, Charles H. Pond, Ezekiel H. Trowbridge
and E. M. Reed. The directors subsequently
re-elected C. N. Yeamans president and Ed-
ward A. Ray secretary. This is the first an-
nual meeting since the New Haven and Hart-
ford Railroad Company purchased a controll-
ing interest in the road. It now has r". majority
of the directors.

At a meeting of stockholders of the Terre
Haute and Indianapolis and Terre Haute and
Loganspoint Railroad Companies held in Terre
Haute, Ind., on the 4th inst., the former elect-
ed as directors W. R. McKeen, Geo. E. Farring-
ton, Alexander McGregor, D. W. Minshall,
Henry Ross, Josephus Collet and F. C. Craw-
ford. The directors elected W. R. McKeen

president, Geo. E. Farrington Secretary, and J.
W. Cruft, treasurer. The latter elected W. E.
McKeen, Geo. E. Farrington, J. B. Hager, John
B. Williams ahd D. W. Minshall, directors, who
elected W. R. McKeen president, and Geo. E.
Farrington secretary and treasurer.

The following is the organization of the New
York and New England Railroad Company for
the year 1882 : directors, Jesse Metcalf, Provi-
dence; Legrand B. Cannon, Sidney Dillon,
Cyrus W. Field, Jay Gould, R. Suydam Grant,
Hugh J. Jewett, Russell Sage, New Y^ork ; Eus-
tis C. Fitz, John H. French, William T. Hart,
Henry L. Higginson, James H. Wilson, Boston;
Frederick J. Kingsbury, Waterbury, Conn., and
George B. Roberts, Philadelphia. Executive
Committee, William T. Hart, Legrai^d B. Can-
non, Jonas H. Frerfch, Jay Gould and James
H. Wilson (ex officio). Finance Committee, R.
Suydam Grant, Cyrus W, Field, Henry L. Hig-
ginson, James H. Wilson (ex officio). Presi-
dent, James H. Wilson; general manager, Sam-
uel M. Felton ; treasurer, George B. Phippen ;
clerk, W. Perkins. - ;

CONSOLIDATION.

The Canadian Pacific Railwaj^ Sjndicate took
possession on the 1st inst. of the St. La^yrence
and Ottawa Railway. It is understood that no
change is to be made in the personnel of, the
management.

The Cleveland, Columbus, Cincinnati and
Indianapolis, the Wabash, St. Louis and Paci-
fic, the Indiana, Bloomington and Western,
the Cincinnati, Indianapolis, St. Louis and
Chicago, and the Pennsylvania Company, now
operate, by ownership, lease or otherwise, all
of the twelve separate lines centering in Indi;in-
apolis, which were originally managed by as
many different companies.

The St. Louis, Arkansas and Texas Railway
company of Missouri, the St. Louis, Arkansas
and Texas Railway company of Arkansas, and
the Missouri, Arkansas and Southern Railway
company have been consolidated under the
name of the St. Louis, Arkansas and Texas
Railway companj'. This road enters Arkansas
in Benton county, and is being constructed
southward via Fayetteville to the Little Rock
and Fort Smith railway.

The stockholders of the Pittsburg and West-
ern and Red Bank and Youngstown Railroad
companies met at Pittsburg, on the 30th ult.
and consolidated, under the name of the Pitts-
burg and Western Railroad company. The
Red Bank and Yoijttigstown is to run from Red
Bank, Pa., to State line in Lawrence county,
and there connect with the Y^'oungstown branch
of the Pittsburg and Western road. This route
it is claimed will be sixtj'-five miles shorter
than yet projected for transmission of freight
from East to West.

Articles of consolidation were filed in the
office of the Secretary of State of Illinois on
the 6th inst. of the Joliet and Indiana Railway
Company and the Laporte and Indiana Railwaj'
Company. The new oi'ganization is to be known
as the Joliet, Indiana and Eastern Railwaj-
Company, is to have a capital stock of SI, 000,-
000, and the directors are to be those of the
Laporte and Indiana Railway Company, name-

ly : A. W. Paige. William H. Campbell. C. E.
Sargeant, John F. Wilson, C. T. Baxter, A. C.
Badger * and F. D. Raymond. The present
president and secretarj' of the Laport« and In-
diana are to remain officers of the consolidated
company.

CONSTRUCTION.

The grading of the Harrisburg and Potomac
Railroad is rapidly api)roaching Shippensburg.
The tracks will be laid by ISIarch next.

The South Mountain Rjulroati Company has
commenced the survey of an extension from
Hunter's Run to Gettysburg and other points.

Work is progressing with rapidity on the
second track in the Hoosac Tunnel. Eleven
thousand feet have been laid, and the central
shaft is nearly reached.

The Harbor Grace (Newfoundland) StanJani
says the Railway Companj' are purcha.sing in
England enough railway material to build,
equip and operate 160 miles of railway, inc-lud-
ing rails, carriages, locomotives, implements,
etc.

The Schuylerville branch of the Boston,
Hoosac Tunnel and Western Railroad was
opened on the 9th inst., to JSamtoga. The
tonnage of the Hoosac Timnet line increased
in December 50 per cent and the earnings 25
per cent.

The Mexican government has granted a eon-
cession, with a subsidy of S8,000 i)eif kilometre
to Count Telefeper, the agent of De Castro, for
a railroad from Matamoras to Tampeco, on con-
dition that De Castro shall acquire the branch
road from Matamoras to Victoria, belonging to
the Gould-Degrees concession.

Thos. L. Roekjers, vice-president of the Cali-
fornia Southern Riiilroad Company, has receiv-
ed a concession from the Mexican government
for the construction of a raih-oad and tek^igraph
line from a convenient point of junction with
the Sonora Railroad to San Diego. The length
of the proposed road will be nearly 4<)() miles.

The Bethlehem Times says that track laying
has been completed from Belvidere to Danville
on the Lehigh and Hudson River R'lilroad for
a distance of thirteen miles, and coal is now
being shipped to the latter place. The road is
to be pushed forward as rapidly as possible,
and in a few weeks will be running to Andover.
It is also to be run to Portland and Bangor, in
Northampton county.

Connection has been made between the Dan-
ville, Olney and Ohio River Rjiilroad and the
Chicago and Eastern Illinois Railroad thus
securing entrance to Chicago. The directors
decided to extend the road this winter to a
connection with the Louisville, New Albanv
and St. Louis Rjulroad, and during 1882 to
complete the system to the Ohio river at Padu-^
cah.

Contracts have been let by the Chicago and
Northwestern Railway Company, to Carmichael
and O'Rourke for grading, on the Callope
branch to the Vermillion River, to be finished
Aug. 1 ; on the Algoma branch, to be finished
to Swan Lake by Aug. 1 ; to Spirit Lake, by
Oct. 1 ; Tracy, by Nov. 1, and, on the Maple

ifi' I* It- \'n • iVi mViri ^'**~ -■■'""-• •'^'''-' -'■^ "■■'-

AMERICAN RAILROAD JOURNAL.

River branch, to be finished to Sioux City by
Sept. 1. I *

Statement of the Public Debt of
United States, January 1, 1882.

DEBT BEABINO INTEBE8T.

Amount
Outstanding.

$101,827,200 00
47,855,700 00

6 per cent loan, 1861-'81.

continued at 3 3^ per ct.
6 per cent loan 1863-'81

continued at 332 per ct
5 per cent funded loan of

1881 401.503.900 00

4>^ per cent funded loan

of 1891 250,000.000 00

4 per cent funded loan of

1907 738.772,550 00

4 per cent refunding cer-
tificates 575,250 00

3 per cent navy pension

fund 14,000,000 00

Accrued
Interest.

$1,781,974 29

837,473 82

2,342,106 08

937,500 00

7.387.725 50

6.752 50

210.000 00,

Aggregate of debt bear-
ing interest $1,554,534,600 00 $13,502,532 19

Interest due and unpaid 1.331,845 66

DEBT ON WHICH INTEBEST HAS CEASED SINCE MATUBITT.

Amount Interest due

Debt bearing interest in
coin, viz :

Bonds at 6 i)er cent., con-
tinued at 3>a per cent.

Bonds at 5 per cent, con-
tinued at 3>^ per cent.

Bonds at 43^ per cent

Bonds at 4 per cent

Refunding certificates...

Navy pension fund. 3 p.c

BECAPITtJLATION.

Amount
Outstanding.

Interest.

$149,682,900 00

401,503,900 00

250,000,000 00

738,772.550 00

575.250 00

14.000.000 00

$1,654,534,600 00 $14,814,377 85
Debt on which interest has
ceased since maturity. 11,528.265 26 714,985 31

Debt bearing no int., viz:
Old demand and legal-
tender notes $346,740,936 00

Certificates of deposit 9,590,000 00

Coin & silver certificates. 73,863,350 00

Fractional currency 7,076,926 92

Unclaimed interest.

$437,270,212 92

7.256 61

Outstanding.
$57,665 00

1,104 91
1,250 00

3.275 00

20,000 00

8,000 00

10,000 00

370.700 00

58.650 00

77.050 00

490,350 00

411.300 00

4 to 6 per cent, old debt, 1837.
6 per cent. Mexican indem-
nity stock, 1846

6 per cent . bonds, 1847

6 per cent, bounty land scrip,
1847

5 per cent. Texas indemnity
bonds, 18.50

5 per cent. bond.s, of 1858. . . .

6 per cent, bonds, of 1860

6 per cent. 5-20 bonds, 1862,

called

6 per cent. .5-20 bonds, June,

1864, called

6 per cent. 5-20 bonds, 1865,

called

5 i)er cent. 10-40 bonds, 1864,
called

6 per "'int. Consol. bonds,

1865. called

6 per cent. Consol. bonds.

1867. caUed 1,103.850 00

per cent. Consol. bonds.

1868, called 315,750 00

6 per cent, loan, Feb. 8, 1801,

matured Dec. 31. 1880 142.000 00

per cent, funded loan 1881,

caUed 3,558,750 00

Oregon War Debt, March 2,

1881. matured July 1, 1881. 134.500 00

6 per cent loan of July 17 and

Aug. 5, 1861. matured June

30. 1881 1,107,400 00

6 per cent loan of July 17 and

Aug. 5, 1861, matured Dec.

24. 1881. called

6 per cent, loan of March 3,

1863,matured June 30, 1881.
1-10 to 6 per cent. Treasury

notes, prior to 1846

1-10 to 6 per cent. Treasury
• notes, 1846

6 per ct. Treasury notes, 1847.

3 to 6 per cent. Treasury
notes, 1857

6perct. Treasury notes,1861.

7 3-10 per cent. 3 years' Treas-
ury notes, 1861

5 per cent. 1 year note8,1863. .

6 per cent. 2 year notes, 1863.

6 per ct. compound interest
notes, 1863-64

7 3-10 per cent. 3 years' Treas-
ury notes, 1864-65

6 per cent, certificates of in-
debtedness. 1862-63

4 to 6 per cent, temporary
loan, 1864

3 per cent, certificates, called.

2.763,300 05

326,350 00

82,525 35

6,000 00
950 00

1,700 00
3,000 00

16,300 00
43,225 00
35,200 00

225.260 00

140.900 00

4,000 00

2,960 00
5,000 00

k unpaid.
$64,174 81

85 74
22 00

213 06

2,945 00

600 bb

8,439 32

170 95

18.897 52

110.386 10

15.815 21

204.455 36

24.203 90

6,660 00

90,739 38

6.373 50

44.068 50

46,636 40

10.023 00

2.668 06

206 00
57 00

99 00
364 50

$2,003,333,078 18 $15,536,619 67
Total debt, principal and interest to date,
including interest due and unpaid. . . $2,018,869,697 35

AMOUNT IN TBEASUKY.

Interest due and unpaid $1,311,845 66

Debt on which interest has ceased 11,528,265 16

Interest thereon 714,985 31

Gold and silver certificates 73,863,350 00

U. 8. notes held for redemption of cer-
tificates of deposit 9,590,000 00

Cash balance available January 1. 1882. 156.369.534 53

1 $253,377,980 76

Debt, lessam't in Treas'y Jan. 1, 1882... $1,765,491, 717 09
Debt, lessam't in Treasury Dec. 1, 1881.. 1,778.285,340 65

Decrease of debt during the month $12 793.623 56

Decrease of debt since June 30, 1881 $75,107,094 89

BONDS ISSUED TO THE PACIFIC BAILROAD COMPANIES. IN-
TEREST PAYABLE IN LAWFUL MONEY.

i Accrued

1 Amount

' Outstanding.

Central Pacific bonds, 1862-64$25,885.120 00
Kansas Pacific bonds, 1862-64 6,303,000 00
Union Pacific bonds, 1862-64 27,236,512 00
Cent. Branch Union Pacific

bonds, 1862-b4 1,600,000 00

West'n Pacific Bonds, 1862.64 1,970,560 00
Sioux City & Pacific bonds,
1862-04 1,628,320 00

Interest

not paid.

$776,553 60

189.090 00

817.095 36

48,000 00
59.116 80

48.849 60

1,104 43
2,173 35
1,779 80

45,968 07

4,763 87

253 48

244 19
394 31

Totals $64,623,512 00 $1,938,705 34

Interest paid by the United States, $51,467,272 02; in-
terest repaid by transportation of mails, kc, $14,707.-
886 34; interest repaid by cash payments : 5 per cent,
net earnings, $6.55,198 87; balance of interest paid by
United States. $36,104,186 81.

The foregoing is a correct statement of the public
debt, as appears from the books and Treasurer's returns
in the Department at the close of business, December
31. 1881 . Charles J. Folger,

Secretary of the Treasury.

The Coal Trade.

Aggregated of debt on which
Interest has ceased since
maturity $11,528,265 26 $714,985 31

debt BEARING NO INTEREST.

Demand notes, 1861-62 $59,920 00

Legal tender notes, 1862-03 346,681,016 00

Certificates of Deposit 9,500,000 00

Coin certificates, 1863 5,188,120 00

Silver certificates. 1878 08,675.230 00

Unclaimed interest 7,256 51

Fractional currency, 1862,

1863 and 1864 $15,451,860 92 {

Less amount es- [

ti mated as lost -. .

or destroyed,

act of June, '

21,1879 8,375.934 00

7 075.926 92

Aggregate of debt bearing no
interest,..,.,, ...,,, $437,270,212 93

$7,256

The leading coal carrjMng companies make
the following reports of their tonnage for the
week ending December 31, and for the year to
same date, compared with their respective
amounts carried to the same time last year:

Week. 1881. 1880.

Reading Railroad 135.993 760,344 518,231

Schuylkill Canal 27,656

Lehigh Valley 100.602 570*772 3861373

Delaware, Lackawanna and

Western 79,037 4.359,990 3,539.086

Shamokin 22,241 1 ,088.917 930.363

Central R. R. of New Jersey. . 95,680 4,478,443 3.785,760
United R. R. of New Jersey. . 33,904 1,625 882 1.182 281

Pennsylvania Coal, 21.699 1,427,747 1.123.674

Delaware and Hudson Canal. . 74.574 3.656.385 2.047.594
Huntingdon and Broad Top

Mountain 9.402 518.420 417.330

Penn. and New York 25.365 134,898 98 806

Clearfield, Pa 37,818 2,401,987 1,739,872

The total tonnage of anthracite coal from all

the regions for the weak ending Dec. 31, as

reported by the several carrying companies,

amounted to 495,354 tons, against 343,183 tons

in the corresponding week last year, an increase

of 152,171 tons. The total amount of anthracite

mined for the year is 29,361,021 tons, against

24,274,724 tons for the same period last year,
an increase of 5,086,297 tons. The quantity of
bituminous coal sent to market for the week
amounted to 75,118 tons, against 67,916 ton^,
in the corresponding week of last year, an in-
crease of 7,201 tons. The total amount of bitu-
minous mined for the year is 4,994,061 tons,
against 4,371,320 tons for the corresponding
period last year, an increase of 622, 741 tons.
The total tonnage of all kinds of coal for the
week is 570,472 tons, against 411,100 tons in
corresponding week last year, an increase ot
159,372 tons, and the total tonnage for the coal
year is 34,355,082 tons, against 26,646,054 tons
to same date last year, an increase of f, 709, 038
tons. The quantity of coal and coke carried over
the Pennsylvania Railroad for the week end-
ing December 24 was 200,723 tons, of which
145,610 tons were coal and 55,113 tons coke.
The total tonnage for the year thus far has been
9,017,167 tons, of which 6.651,276 tons were
coal and 2,365,891 tons coke. These figures
embrace all the coal and coke carried over the
road east and west. The shipments of bitu-
minous coal from the mines of the Cumberland
coal region during the week ended December
31 were 33,378 tons, and for the year 1881,
2,231,453 tons, an increase of 148,750 tons over
1880. The coal was brought from the mines
as follows: Cumberland and Pennsylvania Eail-
road— week, 27,220 tons; year, 1,930,648 tons ;
decrease as compared with 1880, 85,886 tons.
George's Creek and Cumberland Railroad —
week, 4,131 tons ; year, 211,955 tons ; in-
crease over 1880, 211,955 tons. Baltimore .
and Ohio Railroad— week, 1,365 tons; year, 77,-
516 tons; increase over 1880, 11,424 tons. West
Virginia Central and Pittsburg Railway — week,
1,020 tons ; year, 11,257 tons; increase over
1880, 11,257 tons. It was carried to tide-
water as follows : Baltimore and Ohio Rail-
increased compared with 1880, 177,318 tons;
road — week, 28,141 tons ; year, 1,443,755 tons.
Chesapeake and Ohio Canal — week, 25 tons ;
year, 505,365 tons ; decrease compared with
1880, 96,169 tons. Pennsylvania Railroad —
week, 5,435 tons ; year, 278,598, tons; increase
compared with 1880, 63,866 tons. Nearly one-
tnird ot the whole shipments of the region were
mined by the Consolidation Company— 739,414
tons. Only seven shippers sent out over 100,-
000 tons, the New Central shipping 301,000
tons, and the George's Creek and Iron 255,000
tons, the others sending out less than 200,000
tons. — Phil. Ledger, Jan. 9. [

INCORPORATION.

A CHARTER was granted on the 5th inst., in
Pennsylvania to the American Combined Iron
and Steel Company, of Philadelphia, with a
capital of $2,000,000. The company had been
formerly chartered under the laws of New
York.

The papers of organization of the Central
Pacific Railroad Company, of Wyoming, has
been filed with the Secretary of Wyoming
Territory by Charles Crocker, Charles F. Crock-
er and W. V. Huntington, incorporators and
trustees. Capital stock, $13,500,000, in 135,-
000 shares.

The Mattoon and Northern Railway Com-

Z-TJ:- ■•

^ ■fT-tii'j s»^* ' «j ^J'^iJiWSVf ■.

i,!l.l^ji.-lfJifP.i;.

AMERICAN RAILROAD JOURNAL.

Secretary of State of Illinois. It is proposed
pany, has filed articTes of incorporation with the
to construct a road from Mattoon to some
point on the Illinois Midland Railroad. The
principal oflfice is to be at Mattoon. The capi-
tal stock is $30,000, and the incorporators and
first Board of Directors are Ira James, C. M.
Doyle, J. G. Wright, Thomas M. Lytle and A.
M. Ritter, all of Mattoon.

The St. Augustine Construction Company
has been incorporated under the general laws
of New Jersey, with a cash capital of $50,000,
and has an office at Red Bank, Monmouth
county. The incorporators ai'e W. J. Lawton,
of Jacksonville, Fla. ; A. M. Lyon, of New York,
and G. V. Sneden, of Red Bank. The object
of the company is to engage in building and
equipping railroads and steamboats and buying
and improving lands in Florida.

The Secretary of State of Illinois, on the 7th
inst., licensed John E. Cowles, of New York
City ; John S. Wompoon, W. R. Jouette and
Nelson C. Gridley, of Chicago ; and Benjamin
F. Wompoon, of Aledo, 111., to organize the
Rock Island and Southwestern Railway Com-
pany, with the principal office in Chicago.
The capital of the company is $1,000,000. The
company proposes to build about 35 miles of
railway and telegraph lines from Rock Island,
HI., to New Boston, Mercer County, 111.

J Articlrs of incoporation were filed on tha
6th inst., with the Secretary of State of Illi-
nois, by the Freeport and Northwestern Rail-
road Company, which is to have a capital stock
of $36,000. This company proposes to con-
struct a line from Chicago to Fox River and
across through Kane County to Freeport, a dis-
tance of 145 miles. The principal office is to
be at Freeport, and the incorporators and first
Board of Directors are John F. Smith, Henry
J. Porter, Alonzo V. Richards, M. H. Wilcoxon
and Warren C. Clark, all of Freeport.

The charter of the Topeka and Western Rail-
way Company was filed with the Secretary of
State of Kansas, on the 4th inst. The new
road is to start from Topeka, thence to the
town of Esdridge, in Wabaunsee County, and
on through Morris, Dickinson, Saline, Ottawa,
Lincoln and Osborne counties. Its length will
be 250 miles. The directors are William H.
Strong, of Boston ; C. C. Wheeler, Topeka ;
Alden Speare, J. T. Burr, F. G. Dexter, S. L.
Thorndike, W. Powell, Sidney Dillon, J. T.
Dillon of New York ; G. W. Veale, of Topeka,
and E. B. Purcell, of Manhattan. The capital
stock is fixed at $6,000,000, divided in 60,000
shares.

A CHAKTER was Issued by the Secretary of
State of West Virginia, on the 3d inst., to the
Kanawha and Chesapeake Railroad Company.
The capital stock is $3,000,000. The incorpora-
tors are H. C. Parsons, H. D. Whitcomb and S.
McG. Fisher, of Richmond, Va.; S. A. Miller,
of Charleston, W. Va. ; and Joseph S. Miller, of
Wheeling. The route of the road is as follows :
Commencing at or near Cannelton, in the
county of Kanawha, and running by the most
practicable route, to a point at or near the
mouth of the South Branch of the Potomac
river, in the county of Hampshire, with the
right to build a branch line to a point on the

Prin-

Potomac river, in the county of Mineral
cipal office, Charleston, W. Va.

Articles of incorporation of the Cincinnati
and St. Louis Air-Line Railroad Company were
filed on the 26th ult., in the office of the Sec-
retary of State of Illinois. The route of the
proposed railroad is from East St. Louis to the
Wabash river, at Palestine, or near that point,
and running through the counties of St. Clair,
Madison, Clinton, Rond, Marion, Fayette, Clay,
Effingham, Jasper and Crawford ; also a branch
from the city of Effingham, Northwesterly,
throv.gh Effingham and Clay counties to a junc-
tion with the Toledo, Burlington and St. Louis
Railroad, at or near Holliday, in Shelby county.
The principal office of the company is to be at
Robinson, Crawford county. The capital stock
is $2,800,000, and the incorporators and Board

of Directors are John S. Cooper, Eric Winters,
George Bass, William E. Loan and William W.
Garley.

Illinois Central Railroad.

During the month of December, 1881, the
traffic on the lines operated by this company
was (estimated):

In niinois $595,190 00

In Iowa (leased lines) 169,964 00

Total $709,154 00

The traffic for the same month in 1880, on
the same mileage, was (actual):

In Illinois $522,565 31

In Iowa (leased lines) 150,616 33

Total $673,181 64

During December, 1881, the land sales were
1.384.22 acres for $8,185.32, and the cash col-
lected on land contracts was $9,244.98.

L. A. Caxlin, Sccrdary.

PERFECTieN

A Triumph, in Scientific Progress.

Whek we take a retrospective glance at the
primitive efforts of our forefathers to subvert
the forces of Nature to the necessities of man
and contrast their now almost absolute meth-
ods with the more modem and scientific sub-
stitutions, viz : steam, gas, electricity, &c., we
cannot but exclaim that man has •' progressed
continually" and now occupies a prominent
place on the plane of civilization and enlight-
enment.

We are led to these remarks, by having re-
cently witnessed the practical operations upon
a verj' large scale of an improved apparatus
invented by Professor S. N. Carvalho for heat-
ing air and superheating steam. His process
not only heats atmospheric air to any temper-
ature from 100 degrees to 800 degrees but reg-
ulates the temperature and quantity as desired.
500 to 10,000 cubic feet per minute may be
transferred to great distances and utilized for
drying lumber, grain, ^bricks, boiling sugar.

soap, beer, baking bread, &c., and heating ware-
houses and large buildings economically, prac-
tically and without danger. The introduction
of this novel way to utilize hot air, superced-
ing 'in many instances the expensive use
of steam, is a public benefaction, and we re-
spectfully call the attention of our readers, es-
pecially those interested in car building, dry-
ing grain and lumber, to a careful examination
of its merits.

The apparatus is simple in the extreme and
consists of setts of double cylinders placedjverti-
cally in a furnace, as per "Patent office drawing"
annexed. They rest on an iron plate which also
sets on a buck or iron furnace. The appara-
tus, as seen in operation at the establishment
of Wilson & Adams, on 1st Avenue, this
=city, dried perfectly without checking 3500
thousand feet of lumber just from the
mile in 35 hours at the nominal expense of
about twenty cents per thousand feet for fuel.
^Professor Carvalho's office is at No. 120 Lib-
erty Street, New York.

■'Ali'MfcfifiLT?'*-'^** '-''-' ^-^^'^^'g^-'^ -L4jK.2tk^^

AMERICAN RAILROAD JOURNAL.

New York Stock Exchange.

(Thursday's quotations follow money article.)
Closing Prices Jor the week ending Jan. 11.

Th.5. F.6. Sat.7. M. O.Tu.lO.W.ll.
Adams Express 14.5 117 >i 149 149

Albany and Susq 130 130

1st mortgage

2d mortgage

American Express.. 93 92 >4 93)^ 93 93%

Atlantic & Pac. Tel

Burl.. C. R. * Nor

Ist mortgage 08.. 99?^ 993^ 9.)% 99»i 100

Canada Southern . . 52 'g' 63 »4 53^^54?^ 55 54
1st mortgage guar 96;^ 95% 95 >^ 95 J^ 95 ?i

Central of N. Jersey 90 90Ji 91)^ 92 >^ 91 Ji n%

1st mort. 1890.... 118'^ 118*i 119

78. consol. ass 114 114

78, convertibleaas 1'23J^

7s. Income 103 101 J^ 102

Adjustment 105 107 107 >^

Central Pacific 9H4 91% 92 >^ 92?^ 93 93

6s, gold 113 ^i 113>^ 113>4 ll3)i

Ist M. (San Joaq) 109

latM. (Cal. & Or.) 103)^ 104

Land grant 6a 107 105?i 106

Chesapeake & Ohio. 25 24?^ 26 25>i 25 24)i

Chicago and Alton. 129 129?i 130)i 130^ 131 i

Preferred

^Ist mortgage 119%

Sinking Fund

Chi,, Bur. & Quincy 134 135 135 1353^ 136 136?^
7s, Consol. 1903 127,'4 125,^^

Chi., Mil. & St. Paul 106 V^' 107 108 109 Ji lOO'i lOS'i

Preferred 121 120 121 121?^ 122 121 >^

Ist mortgage, 8s

2d mort., 7 3-lOs 120 121

78, gold

1st M. (La. C. div) 115;4'

IstM. I. &M.div.) ■

Ist.M. (I. & D. ext.) 114 ,...

IstM. (H.&D. div.) 114 114 114 113% lU 114

lstM.(C.&M.div.)

Consolidated S. P 118?^ 119

Chi. & Northwestern 124?:^ 124 ?i 125 126 '4 126 126 '„

Preferred 137 j^ 136 ,'i 138 1^ 138 139?i

1st mortgage.

Sinking Fund 68 109 109?i 110

Consolidated 78

Consol. Gold bo'ds 123 1-23 123,'i 124

Do. reg 123 123

Chi., R. Isl. & Pac. 131'^ 131 s^ 132,>ii 132?^ 133

68, 1917, c 125 126 125>i

Clev.,Col.,Cin.&Ind. 78^^ 79% 80)^ 79 80 82%
1st mortgage

Clev.& Pittsburg gr 133 134 135

78, Consolidated. 135»i

4th mortgage 112 112

Col.,Chi.,&Ind.Cent. 20'4' 21 21% 2IJ4 21 Ji 21 »4

1st mortgage.

2d mortgage

Del. & Hud Canal. 107'4 107 107 106',' 106?^ 106>^

Reg. 78.1891 112 112 112

Reg. 7s, 1884 105

7|, 1894 ...

Del. , Lack. & Western 123 ^^ 124 '4 124% 124 124 i23%

2d mortgage 7s

78, Consol. 1907

Erie Railway

1st mortgage 126

2d mort. 5s, eit

3d mortgage 105?^

4th mort. 5s, ext '. . 112

5th mortgage 113 112

7s, Consol. gold. . 123 Ji 129 >^ 129?^

Great West. 1st mort 1083^

2d mortgage 104>i 104 103% 109

Hannibal* St. Jo.. 95 95 '4* 95 U' 95 95^4' 95(4

Preferred 108 101% 108?^ Ill '4 109'-, 109%

8s. Convertible 108 111% 111%

Houston & Tex. Cen 85

l8t mortgage Ill 110 Hl.T

lUinoia Central... 128'^ 129 '4. 129 >i 129'.^ 130 131

LakeShore&MichSo llO^i 111 lllf^ 112Ji 113% 113%

Consol. 78 130

Consol. 7s, reg

2d Consolidated 124%

Leh. & W. B. 78, Con

Long Dock bonds

LouisviUe & Nash. 95 >i 97 98 97% 97% 97%
7s, Consolidated. 121 100% 121%

Manhattan 51 49% 51 51 61

Met. Elevated 85% 87% 88% 89

1st mortgage 100 99% 100 100 100 100%

Michigan Central.. 84% 85% 85% 86% 87% 86%

78, 1902 123% 124

M.S.&N.Ll8t,S.F 107%

Morris & Essex.... 122 121% 121% 121

Ist mortgage

2d mortgage 116

7» of 1871 122% 121% 123% 123%

7«, Convertible...

7g, Conso" li.ated 124

N-\.Cen. AH'ud.R. 129,% 129% 129% 130% 131% 130%

«>•, 8. F. 1883 102% 102%

68, S. F., 1887 110 110

let mortgage 134%

1st mortgage, reg. 133 132% 133

N. Y. Elevated 106>j 105% 106 105% 107

1st mortgage... . 115% 116% 116% 117

N. Y. & Harlem

Preferred

Ist mortgage

1st mortgage, reg

N. Y., Lake Erie &W* 39 '4' 39% 39% 39% 40% 40%

81% 81% 81% 82

97% 97% 98U 98% 98% 99%
95 .... 95% 94% 96 '4

.... 170% 172 170% 170

35%

74%

36%

75%

36 '4

36%

75%

39 35%

75% 74%

36 4 36%

Preferred

2d Consolidated .

New 2d 5s fund .

N.Y.,N.Hav'n&Hart ....

North Mo. 1st mort

Northern Pacific . . . 35%

Preferred 73%

Ohio & Mississippi. -35%

Pretored

2d mortgage 120%

Consolidated 7s 116

Consol. S. Fund 116% 117

Pacific Mail S. S. Co 40 41% 41% 41% 41% 41%

Pacific R. R. of Mo

1st mortgage

2d mortgage

Panama 195 195

Phila. & Reading.. 64% 66 66% 66% 66% 65%
Pitts.Ft.W.&Chi.gtd 134 134% 134

Ist mortgage

2d mortgage

3d mortgage

Pullman Palace Car 125 134% 133% 135 134

Quicksil'r Min'g Co 12 12%

58/

57% 58

59%

Preferred .... 57

St. Louis & San Fran 40 40

Preferred 58% 57 58% 58 U

1st Preferred 104% 104 104% 104% 105%

St. L.. Alfn & T. H 42

Preferred 88% 90%

1st mortgage

2d mort. pref 107

Income bonds

St. L.,IronMt. & S

1st mortgage 117

2d mortgage 109% 108%

Toledo and Wabash

1st mortgage 110

2d mortgage

7s, Consolidated.. 104-4 104% 10434

St. Louis Division 107%

Union Pacific 1153i 116 116% 117 117% 117%

Ist mortgage. .• 114%

Land Grant 7s 113 .... 113% Hi %

Sinking Fund 88 123%

United States Ex... 76% 76% 16%

Wabash , St. L. & Pac 35 ' i

36 '4 363^

68 -Si 68 Si

36
68%

36% 36^8'

Preferred 66/^ 67% 68?^

New mort. 7s 114%

Wells-Fargo Ex 130% 128

Western Pacifi.c b'ds 110

Western Union Tel. 78 78% 78% 78% 77% 77%
7s, S.F. conv., 1900

Federal Stocks :—

U. S. 48, 1907, reg 117,% 117%

U. S. 4s, 1907, coup 117% 117% 117%

U. S. 4 3^8, 1891, reg. 114 J^

U.S. 43^8,1891. coup

U. S. 5s, 1881, reg

U. S. 5s, cont'd at3% 102 % 102 3i 102 % 1 )2 J^

U. S. 68cont'dat33^ 103% 100% 100% 100% 100 ,

Dt. of Col. 3-65s, reg 107

Dt. ofCol.3-658,coup 107 107

Boston Stock Exchange.

Prices for the Week Ending Jan. 11.

Th.5. F.6. Sat.7. M.9. Tu.lO. W.ll.
Atch.,Top.&San.Fe. 93% 93'^ 9i% 95% 95% 92>i

Ist mortgage 120 119*4 119

2d mortgage.

Land Grant 78 116%

Boston & Albany... 164 163% 163% 163 164

7s reg

Boston and Lowell

Boston & Maine 144 145 145 145 '4 145 144%

Boston& Providence 162

Bos'n,Hart.& Erie7s 66% 66% 67 3^ 67% 67%

Burl.& Mo.R.L.G.7s 115 >i

Burl.&: Mo.R.in Neb

6s, exempt 115

Chi.,Burl. & Quincy 135'4 134% 135 135^4 136 136%
7s 119 126

Cin.,Sand&Clev($50) 28

Concord ($50)...-.

Connecticut River

28%

27%

Eastern 37 (^ 37 38

New 432 Bonds... 105% 106 105% 1063i 106%

iitchburg

Kan.C, Top. & West •

Central Michigan

N.Y.& New England 64 63 62% 63 63 62%
7s 118 117% 117% 117%

Northern N. H 104% 105

Norwich* Worcester

Ogden & Lake Cham

Preferred

Old Colony 124)^ 124 124% 126

Ph.,Wil.&Balt.($50)

Portl'd,Saco & Ports

Pueblo & Ark Val

78 117

Pullman Palace Car 130% 134 >4 134 134

Union Pacific 116 116% 117 11734 117% 117%

Gb.... 114%

LandGrant78 110% 111

Sinking Fund 8s 119% 120

Vermont k Canada

Vermont & Mass ,

Worcester & Nashua 57 57% 58

Cambridge (Horse) 120

Metropolitan(Hor8e)

Middlesex (Horse)

Cal.&HeclaMin'gCo 239 240 250 252%" 260

Quincy 56 55 55 66 54% 55

Philadelphia Stock Exchange.

Closing Prices for the Week Ending Jan. 10.

W.l. Th.5. F.6. Sat.7. M.9. Tu.lO.

Allegh'y Val. 7 3-lOs

78, Income 55 53%

Camd'n & Am. 68, '83 103%

68,1889 106

Mort. 6s, 1889.... 114 114 114 113% 113%

Camden & Atlantic '

Preferred 29%

Ist mortgage

2d mortgage

Catawissa

Preferred 53%

78, new

Del. k Bound Brook

Elmira&Williamsp't

Preferred

14% 14
26 25

Hunt. & B. Top Mt 14 %

Preferred 26 26 25%

2d mortgage

Lehigh Navigation . 43% 4334 43% 43% 43 ?4 43

6s, 1884 105% 105 >i 106 105% 105%

Gold Loan 112.

Railroad Loan 117

Conv. Gold Loan 112%

Consol. Mort, 7s. 117 117

Lehigh Valley 61% 61% 61% 62 62 '4 62

Ist mort. 6s, coup 121 120 121 121

Ist mort. 6s, reg.. 121%

2d mort. 7s 133 . . .».

Consol mort. 68 117

Consol. mtg.68,reg ... . 118

Little SchuylkiU 55%

Minehill&Sch.Hav'n 60

North Pennsylvania 60 60 60 60 60

1st mortgage 6s.. 105 104%

2d mortgage 7s

Genl. mtg.7s,coup 120

Genl. mtg. 78, reg

Northern Central.. 49% 48% 48% 49

5s 97% 97%

Northern Pacific... 36 35% .36 36% 36% 35?4

Preferred 75% 73% 74% 75% 75% IbU

Pennsylvania R. R. 00% 60 34 60% 61 ^i 60% 61

Ist mortgage .'

t'Cn'l mort 117

Gen'l mort reg

Consol. mort. 6s 117

Consol. mort. reg

Pa.State 68 2d series

do 3d series

do 5s, new 115%

do 3s

Phila. & Reading... 3334 32% 32% 33% 32% 33%

1st mortgage 68.

78 of 1893.

78, new convert 70

Consol. mort. 7s 125 ... .

Consol. mort. reg ■

Gen'l mort. 6s.... 9834 97% 97% 98 98

Philadelphia & Erie 20 20

1st mortgage 58.. 1053^ 105 105

2d mortgage 78

Pitt8b.,Cin.&St.L.7« 121 122

Pitts., Titu8V.& Buff. 21 20% 20% 20% 20% 20%
7s 102 102 102%

Schuylkill Navi't'n 6

Preferred 13 13

68,1872

68,1882 89 89

United Co. of N.J. . 185 185

Hestonyille, (Horse) 18% ,.«..

Che8tnut&Wal.(do)

I'lruen Ac CoateB(do)

-/ JHW Vi:MaiiVV^<KWU^'V?*HV»".'lV* (Uiijpjl.

.PL:, .Ji|iUiii!l».VJ»i iJ-V

AMERICAN RAILROAD JOURNAL.

Baltimore Stock Exchange.

Closing Prices f»r the Week Ending Jan. 10.

W. 4. Th.5. F.6. Sat.7. M.9. Tu. 10.

Baltimore & Ohio 195

6s, 1880

6s, 1885 107 >i 106%

Central Ohio ($50)

l8t mortgage 108>^ 109 109>i

Marietta & Cincin'ti

Ist mortgage, 7s 125>i 125^^

2d mortgage, 78.. 104Ji 105J^ 105%

3d mortgage, 88.. 59 '4 60)4 61 61 ?i 61^i 61

Northern Cen. ($50) 50 49

2dmort., 6s 1885.. 105 105

3dmort.,68, 1900

6s, 1900, gold 113 113i4 113>^

6s, 1904, gold lll>^ lll>i

Orange & Alex. Ist

2d mortgage, 68

3d mortgage, 88

4th mortgage, 8s

0.,Alex.&Mana8'8 78

Pitt8.&Connellsv.7s 121% 121%

Virginia Gs, Consol. 69% 67 65 65 64 63 J4

Consol. coupons. . 73 72'^ 74 73>i 73%' 68

10-40 bonds 41 401^ 40 38 !i 33?^

Defd Certificates. 16% 17^4

17%
15

VVestern Maryland. .

Ist M.,end.by Bait

2dM., do

3dM., do

Ist M.,unendor8'd .• ...

2dM.,end.WashCo

2d M., preferred 106

City Passenger R R

17>i
15

London Stock Exchange.

Dec.

Baltimore k Ohio (sterling) 114

Cairo k Viencennes com. stock 42
Do. preferred 5 per oent 91

Central of N. J. $100 share; 93

Do. Cons. Mortgage 116

Do. Adjustment Bonds 104

Do. Income Bonds 104

Det.,G'd Haven & Mil. Equip bd8ll2
Do.Cou.M.5p.c.,till'8;Jaft'r6p.cllO

Illinois Central .*100 shares 137 -

Lehigh Valley Cons, mortgage.. 115

Louisville & Nashville mort 68.105
Do. Sink. Fund bds (S.&N.Ala)104
Do. capital stock .*100 shares. 108

N. Y. Cent. & Hud. R. mt. bds. .136

Do. SlOO shares 140

Do mort. bonds (stg.) 123

N.Y.,Lake Erie & West., $100 shs 46
Do. 6 p. c. pref. $100 shares . . 94
Do. 1st Con. Mort. bds (Erie) .130
Do. do. Funded Coupon bds. 127
Do. 2d Consol Mort. bonds. . .103
Do. do. Funded Coupon bds. .100
Do. Gold Income bonds 95

N.Y.,Pa.& Ohio Ist mort. bonds. 50%
Do. Prior Lien bds (sterling).. 105

Pennsylvania, $50 shares 643^

Do. Con. Sink Fund Mort 120

Philadelphia k Reading $50 shs 35

General Consol Mortgage 116

Do. Improvement Mortgage .. 104
Do.Gen.Mtg.'74,ex-d«!rd coup. 100
Do. Scrip for the 6 def. %coup. 95

Pittsb., Ft. W. & Chi. Eq. bds... .105

St. L. Bridge Ist mort. gold b'd.l26
Do. Ist pref. stock 102

Union Pa. Land Grant 1st. mtg.115

Closing Prices ,

10.

Dec.

23.

116

114

116

118

115

117

109

104

109

107

104

107

114

112

114

112

138
119

132%
115

133%
119

107

105

107

106

103

105

110

102

104

139

134

137

141

125

136%
123

137%
125

46%
96

42%
91

43 ?i
93

132

130

132

129

127

129

104

101

103

102

100

51%
110

45%
105

46%
110

65%
122

118

63%
122

36
118

33%
116

34%
118

106

103

105

102

lOf

100

109

105

109

128

126

128

104

102

104

119

115

119

AMERICAN BAILROAD JOURNAL.

Financial and Commercial Review.

Thursday Evening, Jan, 12, 1882.

The quotation for call loans (luring the day
was 4@5 per cent, and at [the close it was 4
per cent.

The actual rates for prime bankers' sterling
were 4.81|@4.82 and 4.85|@4.85J, with cable
transfers 4.86.^@,|, and prime commercial bills
4.80(^1^. The actual rate's for continental
bills are as follows : francs, 5.19|@5.20 and
5.24|@5.25 ; marks, 94J@3-16 and 95@95J ;
and guilders, 39|@40i^.

The receipts of the United States Govern-
ment for the six months ending December 31,
1881, were : from custom.s, $108,358,919 ; from
Internal Revenue, $76,230,128 ; from miscella-
ueous, $20,566,976— total, $205,156,023. The,

expenditures during the same time were : Or-
dinary, $96,615,570; interest on debt, $38,305,-
374— total, $134,920,944. For the six months
ending December 31, 1880, the receipts were :
from customs, $98,636,184 ; from Internal Rev-
enue, $67,192,225 ; miscelleaneous, $13,755,175
—total, $179,583,584. The expenditures dur-
ing the same time were: Ordinary, $97,798,665;
interest on debt, $41,820,175- total, $139,618,-
840. It will be seen that the receipts of 1881
show an increase over those of 1880, of $25,-
572,439, and the exj^enditures a decrease of $4,-
697,896; and that the surplus for the six months
ending December 31, 1881, was $70,235,079,
against $39,964,744 for the corresponding six
months of 1880, an increase in favor of the
period first named $30,270,385. The reduction
on the interest account will be much larger
during the coming six months, for the reason
that there has been a large reduction in the
principal of the public debt, and fcr the addi-
tional reason that on all the continued five and
six per cent bonds the rate of interest to be
paid will be 3.} per cent. During the past six
months on a portion of these bonds the higher
rate of interest was paid. The large amount
of surjjlus revenue shown by the figures given
above will have considerable influence with
Congress when the question of reducing taxa-
tion comes to be considered.

The Pennsylvania Sinking Fund Commis-
missioners have accepted bids for $9,000,000
of the new State loan, at 3, 3| and 4 per cent,
of which Drexel & Co. of Philadelphia get
about $6,000,000. By this transaction, when
completed, the interest-bearing State debt will
be reduced $1,482,000.

At a meeting of the trustees of the East River
Bridge, held on the 9th inst., the financial
statement was presented showing that up to
December 31, 1881, the total receipts were $13,-
537,731.34, and total expenditures $13,377,155
67. The cash on hand was $160,675.67, and the
cash liabilities were $100,774.12. In Decem-
ber the recespts were $201,796.54, and. the ex-
penditures $53,926.82.

New fetock to the amount of $70,000 has been
issued by the Boston, Revere Beach and Lynn
Railroad Company, and taken by the stock-
holders and a dividend paid upon it, and the
road has authority to issue $80,000 more stock
if necessary.

According to the Message of the Mayor the
debt of the city of Brooklyn at the close of the
year 1881 was $42,197,000, with a sinking-fund
of $4,022,000. Of the total indebtedness, $9,-
236,000 is for Prospect Park, $10,430,000 for
the East River Bridge, $9,830,000 for the Water
Works, $7,239,000 for temporary debt, $4,270,-
000 is in tax certificates. The city is paying
$1,500 a day interest on its bridge debt.

At the annual meeting of the North Pennsyl-
vania Railroad Company on the 9th inst., it was
stated that the receipts for the yea rwere $778,-
375.15— being dividends and interest on bonds
paid by the Philadelphia and Reading Railroad
Company. . - v

The following gentlemen have been elected
directors of the Mechanics' Banking Associa-
tion: Trenor W. Park, Thomas W. Evans,
Charles J. Osborn, William L. Scott, Frank
Work, Cornelius F. Timpson. Joseph G. Mills,

John G. McCullough and W. J. Hutchinson.
It is intended to increase the stock to $1,000,-
000 and to occupy spacious rooms in the new
Mills Building. It is also designed to make
the bank the nucleus of a stock-cleariug house.

The closing quotations on Thursday were :
Albany and Susquetanna, 128@,131 ; Adams
Express, 147@149; American Express, 92@,93i;
Chicago, Burlington and Quincy, 136J@136J;
Canada Southern, 535@55; Chicago and North-
western, 126@126} ; do. pret, 138^@139; Chi-
cago and Alton, 132^@133^; Central of New Jer-
sey, 91|@92 ; Central Pacific, 93g@933 ; Chi-
cago, Milwaukee and St. Paul, 108|^109} ; do.
pref., 121^@121; Cleveland, Columbus, Cincin-
nati and Indianapolis, 81i@82i; Columbus, Chi-
cago and Indiana Central, 21J@21^; Delaware
and Hudson Canal, — @ — ; Delaware, Lack-
awanna and Western, 124@,124j^ ; Hannibal
and St. Joseph, 96@.96i ; do. pref., 109J@109i;
niinois Central, 132@132^ ; Lake Erie and
Western, 35@35^ ; Lake Shore and Michigan
Southern, 114i@114|^ ; Metropolitan Elevated,
87i<S>.89 ; Manhattan Elevated, 48|@49 ; Mich-
igan Central, 88@88 ; New York Elevated.
105@106^;New York, Lake Erie and Western,
41^@,41| ; New York Central and Hudson
River, 133|^133|; Northern Pacific, 35|@36;
do. pref., 74|@74^; Ohio and Mississippi, 37i@
@37^ ; Panama, 195@198 ; Pacific Mail. 41^
41|; Texas and Pacific, 47f@.47| ; Union Pacific,
\\l\@m\ ; United States Express, 76A@77i;
Western Union Telegraph, 78^@78| ; Wabash,
St. Louis and Pacific, 36J@36| ; do. pref., 68f
@68|; Wells-Fargo Express, 128@130.

The following quotations of sales of Railway
and other securities, for the week, are in addi-
tion to those given elsewhere in our columns:

Ntuo York. — Atlantic and Pacific 1st, 96i ;
Atchison, Colorado and Pacific 1st, 98 ; Boston
and New York Air Lin« pref., 63; Chicago and
Milwaukee 1st, 118 ; Cedar Falls and Minne-
sota, 20 ; Chicago. St. Louis and New Orleans,
80 ; do. 1st consol., 115; Chesapeake and Ohio
1st pref., 36; do. 2d pref., 26 ; do. 1st mort.,
Series A, 101; do. B, 82 ; do. cur. int., 5U ;
Chicago, St. Paul, Minneapolis and Omaha,
35| ; do. pref., 99| ; do. consol., 98| , Central
Iowa, 34 ; do. 1st, 115^ ; Chicago, Burlington
and Quincy 8s, l03; Chicago, Milwaukee and
St. Paul, Chicago and Pacific Western div.,
94^ ; do. S. M. div. 1st, 103^ ; do. S. W. div.
1st, 103^; Colu6ibus, Chicago and Indiana Cen-
tral 1st, Trust Co. certif. ass. sup., 118; do.
Income, 75 ; Chicago and Northwestern S. F.
5s, 101 J ; Chicago, St. Paul and Minneapolis
1st, 108|; Denver and Rio Grande, 68| ; do.
1st consol., 103 ; Des Moines and Ft. Dodge
inc.,75| ; Denver, South Park and Pacific 1st,
103J ; East Tennessee, Virginia and Georgia,
14| ; do. pref., 24 i[; do, inc., 55^ ; do. 5s, 99;
do. 1st, \\^\ ; Galveston, Harrisburg and San
Antonio 1st, 103 ; Green Bay, Winona and St.
Peter, 13^ ; Gulf, Colorado and Santa Fe 1st,
106 ; Hudson River 2d S. F., 108^ ; Houston
and Texas Central 1st, Western div. 107^;
International and Gt. Northern 1st, 107J ; do.
coup. 6s, 90; Indianapolis, Decatur and Spring-
field 1st, 105; Indiana, Bloomingtou and West-
ern, 47; do. 2d, 80; Jackson, Lansing and Sagi-
naw 6s, llOJ; Kansas Pacific 1st consol., 103^ ;
do. 6s, Denver div. ass., 108|; Keokuk and Des

'ili 'fll«n<r^''l

AMERICAN RAILROAD JOURNAL.

Moines 1st, 106; Lehigh and Wilkesbarre con-
sol, ass., 107| ; Louisville, New Albany and
Chicago, 74; do. 1st, 100^ ; Long Island, 51| ;
Lake Erie and Western, 34J ; do. l^t, 107J ;
do. Inc., 54 ; Louisville and Nashville consol.
6s, 1898, 121 1; do. gen'l mort. Gs, 101 J ; Lafay-
ette, Bloomington and Muncie 1st, 103; Lake
Shore dividend bonds, 122 ; Manhattan Beach,
27| ; Minneapolis and St. Louis, 21; do. pref.,
61; Mobile and Ohio, 34 ; do. 1st deben., 96^ ;
do. 2d deben., 68 ; do. new mort., 110 ; Mis-
souri, Kansas and Texas, 37 ; do. consol. 7s,
106i; do. gen'l mort. 6s, 81.]; do. 2d, 70^; Mis-
souri Pacific, 100^ ; do. 3d, llOJ ; do. 1st con-
sol. ; 103 ; Memphis and Charleston, 74 ; Mil-
waukee, Lake Shore and Western, 48; do. 1st,
100; Michigan Central 5s, 98 ; Metropolitan El-
evated 2d, 90; New York, Ontario and Western,
27^; Norfolk and Western, 20; do. pref., 58| ;
do. Gen'l mort., 103 ; Nashville, Chattanooga
and St. Louis, 85; do. 1st, 115^ ; New Jersey
R. R. Transp, Jo., 183 ; New Orleans Pacific
1st. 9U ; Northern Pacific 1st, 99^; Ohio Cen-
tral, 23"^ ; do. inc., 45 '; do. 1st, 96i ; do. 1st
Terminal Trust, 95.]; Oregon Railway and Nav.,
133 ; do. 1st, 106; Ohio Southern inc., 44 ; do.
1st, 9U; Ohio and Mississippi Springfield div.
1st, 121]; Peoria, Decatur and Evansville, 35] ;
do. .1st, 103]; Quincy and Toledo 1st, 102 ;
Rochester and Pittsburg, 25] ; do. 1st, 100| ;
Richmond and Allegany, 36] ; do. 1st, 101 ;
Richmond and Danville, 181 ; do. 6s, 102| ;
Rome, Watertown and Ogdensburg, 20 ; Rens-
selaer and Saratoga 1st, 136 ; South Pacific of
Missouri 1st, 104 ; St. Louis, Alton and Terre
Haute div. bonds, 50; St. Louis and Iron Moun-
tain, Arkansas Branch 1st, 110; do. 5s, 85 ; St.
Paul Minneapolis and Manitoba, 113] ; do. 1st,
109; do, 2d, 105] ; St. Paul and Duluth pref.,
70 ; St. Louis, Kansas City and Northern,
Omaha div. 1st, 113 J ; do. R. E. 7s, 105; Scioto
Valley 1st, 98; St. Paul and Sioux City 1st, 110;
Southern Pacific of California 1st, 103 1 ; St.
Louis, Jacksonville and Chicago 1st, 116]; Texas
Central 1st, 107 ; Toledo Delphos and Burling-
ton, 16]; do. 1st M. L., 84; do. Terminal Trust,
95 ; Texas and Pacific, 47| ; do. inc. L. G., 74;
do. Rio Grande div. 6s, 90 ; Toledo, Peoria and
Western 1st, 111 ; Utah Gen'l mort. 7s, 106;
Union Pacific Collateral Trust 6s, 107 ; Wabash,
St. Louis and Pacific, Iowa div. 1st, 90J ; do.
Gen'l mort. 6s, 88.] ; do. Chicago div., 85 ; do.
Havana div. 1st, 95; Winona and St. Peter 1st,

107.

Philadelphia.— AmeTicnn Steamship Co. 6s,
107 ; Catawissa new pref., 53 ; Central Trans-
portation, 35 ; Chesapeake and Delaware Canal
6s, 89; Erie and Western Transp. Co., 55; Mor-
ris Canal pref., 169 ; New Orleans Pacific 6s,
92 ; Nesquehcning Valley, 57i ; Philadelphia,
Germantown and Norristown, 105 ; Philadel-
phia, Wilmington and Baltimore 4s, 94] ; Penn-
sylvania Company 4]s, 95 J ; Philadelphia and
Reading scrip, 81 ; do. Inc. 7s, 98}; Pennsylva-
nia Canal 6s, 99| ; Pittsburg 7s, Water Loan,
127 ; Schuylkill Nav. Boat'Loan 7s, 60 ; Texas
and Pacific consol. mort. 6s, 100; do. Rio Grande
div. 6s, 90; Union and Titusville 7s, 103. The
latest quotations are : City 6s, — @118; do. free
of tax, 126@132; do. 4s, new, 102@109 ; Penn-
sylvania State 6s, 3d series, 100@101 ; do. 5s,
new loan, 115@— ; do. 4s, new, 107@111; Phil-

adelphia and Reading R. R., 33@33J ; do. con-
sol. mort. 7s, reg., 124]@125J ; do. mort. 6s,
117@, — ; do. gen'l mort. 6s, coupon, 97^@,d8\;
do. 7s, 1893, 118@125 ; do. new, conv., 73@77;
United New Jersey R. R. and Canal, 184|@
185; Buffalo, Pittsburg and Western, 20§@20J-;
Pittsburg, Titusville and Buffalo 7s, 102|@102|;
Camden and Amboy mort. 65, 1889, .113^@114;
Pennsylvania R. R., 60|@61; do. general mort.
reg., 123(a)y — ; do. consol, mort. 6s, reg., 119
@124 ; Little SchuylkiU R. R. 55}@55] ; Mor-
ris Canal, 65@75; do. pref., 165@169]; Schuyl-
kill Navigation, 5i|@6} ; do. pref., 12]@13] ;
do. 6s, 1882, 88]@89]; do. 1872, 107@i08; El-
mira and WiUiamsport pref., 58@60 ; do. 6s,
110@ — ;95@ do. 5s, — ; Lehigh Coal and Nav-
gation, 43J@43] ; do. 6s, 1884, 105^@106} ;
do. R. R. loan, 116J@117} ; do. Gold Lo.m,
llia@112} ; do. consol. 7s, 114}(^117}; North-
ern Pacific, 35|@36]; do. pref., 75]@75|; North
Pennsylvania, 59i@60J ; do. 6.s, 104;|@105} ;
do. 7s, 123]@ — ; do. General mort. 7s, reg.,
119@124 ; Philadelphia and Erie, 19^@20J ;do.
7s, 117@120 ; do. 5s, 105@105] ; Minehill, 60
@60] ; Catawissa, 14@16 ; do. pref., 52^@53i ;
do. new pref., 52^@53}; do. 7s, 1900, 120@— ;
Lehigh Valley 62@62J^ ; do. 6s, coupon, 1203@
121J: ; do. reg., 121]@122] ; do. 2d mort. 7s,
133@— : do. consol. mort. 117f@118} ; Fifth
and Sixth streets fhorse), 149@150 ; Second
and Third, lU^fai^nS \; Thirteenth and Fif-
teenth, 79.^@80J ; Spruce and Pine, 47J@481^ ;
Green and Coates, 90@100; Chestniat and Wal-
nut, 94@95 ; Germantown, — @70; Union, 110
@125 ; West Philadelphia, 111@112 ; People's
15@15] ; Continental, 100(?^105.

Baltimore. — Atlantic Coal, 1.10 ; Atlanta and
Charlotte 1st, 109J ; Baltimore and Ohio 2d
pref.. 120 ; Baltimore City 6s, 1890, 114| ; do.
6s, 1886, 106] ; do. 6s, 1900, 128; do. 5s, 1916,
121} ; do. 5s, 1885, lOU ; do. 5s, 1894, 116; do.
4s, 1920, 112 ; Columbia and Greenville 1st,
102i; Cainton 6s, gold, 107i; North Carolina 4s,
83; Ohio and Mississippi, Springfield div. 1st,
121}; Richmond and Allegany, 37]; Richmond
and Danville 6s, gold, 102] ; do. 6s, 1890, 106];
do. 6s, 1885, 103 ; Virginia Midland 1st pref.,
115 ; do. 2d pref., 115 ; do. 1st mort., 116]; do.
2d mort., 109}; do. 4th mort., 55; do. 5th mort.,
98; Virginia Peelers, 38| ; do. Peeler coupons,
32 ; Virginia Black scrip, 25; Wilmington, Co-
lumbia and Augusta, 109. The latest quotations
are : Atlanta and Charlotte, 101@ — ; do. 1st.
109]@109a ; Baltimore and Ohio, 195@200 ;
do. 6s, 1885, 106]@107; Baltimore City 6s, 1890,
114@114}; do. 5s, 1885, 101@1()5 ; do. 5s, 1894,
-@116] ; do. 5s, 1916, 121@— ; do. 4s, 1920,
—@112; Columbia and Greenville 1st, 102]@
103]; Central Ohio 1st, 110@111; Marietta and
Cincinnati 1st, 125]@125f ; do. 2d, 105@106 ;
do. 3d, 61@61| ; Northern Central, 48]@— ;
do. 6s, 1885, 106]@— ; do. 6s, gold, 1900, 113
@— ; do. 5s, 1926, — @97f ; Norfolk and West-
ern pref., 57@ — ; Ohio and Mississippi, Spring-
field div. 1st, 121J@121] ; Pittsburg and Con-
nellsville 7s, 121 @ 121^ ; Richmond and Dan-
ville, 180@195 ; Virginia Midland 5th, 97@99;
Virginia consols., 63}@63|; do. 10-40s,38]@39.

Boston. — Atlantic and Pacific 6s, 95| ; do. In-
come 6s, 32] ; Atchison, Topeka and Santa Fe
plain, 5s, 94 J ; Boston Land, 8^; Boston Water
Power, 6J ; Burlington and Missouri River in

Nebraska 6s, non-exempt, 103 J; Boston, Re-
vere Beach and Lynn, 122 ; Connotton Valley,
19; do. 7s, 85; do. 7s, Straitsville div., 75 ; Cen-
tral of Iowa, 33 ; Connecticut and Passumpsic
Rivers R. R. 7s, 115|; Chicago, Burlington and
Quincy 4s, old, 88} ; do. 4s, Denver ext., 87 J ;
Cincinnati, Sandusky and Cleveland 7s, 101} ;
Chicago and West Michigan, 82] ; do. 5s, 95J ;
Detroit, Lansing and Northern pref., 116 ; do.
7s, 118 , Flint and Pere Marquette, 22; do. pref.,
93 ; Fort Scott Branch 78, 110 ; Iowa Falls and
Sioux City, 84 ; Kansas City, Lawrence and
Southern 5s, 104 ; Kansas City, Fort Scott and
Gulf, 81; do. 7s, 112 ; Kansas City, St. Joseph
and Council Bluffs 7s, 116; Louisiana and Mis-
souri River, 14; do. pref., 35 ; Little Rock and
Fort Smith, 62]; do. 7s, 111 ; Marquette, Hough-
ton and Ontonagon, 62; do. pref., 116 ; Massa-
chusetts Central 6s, 93; Mexican Central 7s, 87;
do. blocks, new, 93; New York and New Eng-
land 6s, 107; New Mexico and Southern Paci-
fic 6s, 115] ; Northern Pacific 6s, 99| ; Ports-
mouth, Great Falls and Conway 4]s, 86; Quincy
Railroad Bridge, 162; Rutland, 5; do. pref., 26;
do. 6s, 101; Republican Valley 6s, 103; Sumner
and Ft. Smith 7s, 115 ; Summit Branch, 14 ;
Sonora 7s, 86 ; Toledo, Delpho.'* and Burling-
ton, 8 J ; Vermont and Massachusetts 6s, 101 ;
Wisconsin Central, 20| ; Wisconsin Valley 7s,
114 ; Allouez Mining Co., 3 J ; Atlantic, 18 ;
Brunswick Antimony, 14 ; Blue Hill, | ; Cop-
per Harbor, 3}; Franklin, 14]; Huron, 3|; Har-
shaw, 4} ; Napa consol. Quicksilver, 7} ; Na-
tional, 3| ; Osceola, 35 1; Phoenix, 3 ; Pewabic,
17 ; Ridge, 4}; Sullivan, 2]; Star, 1; Silver Is-
let, 20.

- - ■ - —»■——■——

SITUATION WANTED AS CIVIL ENGINEER ON A
Railroad; can do machinists work, erect bridges.
Well conversed in Spanish language. Educated at
Rens. Poly. Inst., Troy, N. Y. Address

CIVIL ENGINEER, P. O. Box 1594, N. Y.

SH[IGG BROTHERS,

DESIGNERS AND ENGRAVERS ^

AND

PHOTO ENGRAVERS,

No. 18 Cortlandt Street,

NEW YORK.

THE LAKE SHORE AND MICHIGAN SOUTH-
ERN RAILWAY COMPANY,

Treasurer's Oppice, Grand Central Depot,
New York, December 23d, 1881.

The Board of Directors of this companv have this
day declared a QUARTERLY DIVIDEND of TWO
per cent upon its capital stock, payable on WEDNES-
DAY, the first day of February next at this oflBce.

The transfer books will be closed at 3 o'clock P.
M. on Saturday, the 31st instant, and will be re-
opened on the morning of Saturday, the fourth day of
February next.

E. D. WORCESTER, Treasurer.

Office Central Pacific Railroad Co ,
San Francisco, Jan. 7, 1882.

THREE DOLLARS PEK SHARE WILL BE
paid on presentation of Dividend Warrant No.
13, on or after Febuary 1st, at this office, or at the
office of the Company, No. 9 Nass.iu street, New
York Transfer bonks will be closed froT. 2 P. M.,
January 14th, to 10 A M., February 2d, by order of,
the Board of Directors.

E. H. MILLER, Jr., Secretary.

COTTON-SEED H1JLES

For Packing Journal Boxes of Cars.

Natiokal Railway Patent Waste Co.

240 Broadway, New York.

p'JillW!>i»M''!i;'4LEWM'W.W4iuyi!p»j,«"«f.iii-itt.

AMERICAN RAILROAD JOURNAL.

FOR SAT.E.

Ten new Locomotives, Standard Gauge, Jiine
and July delivery.

New 3ft. Gauge Locomotives, summer delivery.

One Second-hand Tank Locomotive 3ft. Gauge,
rebuilt good as new, January delivery.

Second-hand Standard Gauge Locomotive and
Passenger Cars.

Thirty new Box Cars Standard Gauge, immedi-
ate delivery.

New Flat and Coal Cai^p, January delivery.

New Passenger and Combination Coaches 3ft.
Gauge, early delivery.

New Car Wheels and Castings.

Iron and Steel Rails.

Narrow-Gauge Rolling stock a specialty.

BARROWS & CO.

e4 Br»oa<ci-wa.y,

NEW YORK.

Interest allowed on Deposits subject
to Draft. Securities, &c., bought emd
sold on Commission.

Investment Securities always on hand.

Brown. Brothers & Co.,

No. 59 Wall Street, New Tori,

— BITT AND SELL —

BTT-jT-iS <DT^ lESflCH-^l^O-E

— ON —

GREAT BRITAIN, IRELAND, FRANCE, GERMANY,

BELGIUM, AND HOLLAND.

Issue Commercial and Travelers' Credits in Sterling,

AVAILABLE IN ANY PART OF THE WORLD, AND IN
FRANCS IN MARTINIQUE AND GUADALOUPE.

Make Teleghaphic Transfers op Money between this
and other countries, through London and Paris.

Make Collections of Drafts drawn abroad on all points
in the United States and Canada, and of drafts drawn in
the United States on Foreign Countries.

Scioto R. R. 1st 7*8, 1905.
Scioto R. R. 2nd 7's, 1879.
Scioto R. R. Con. 7's, 1910.
Scioto R. R. Stock.
Columbus & Toledo 1st 7's, 1910.
ToL, Ci»n. & St. L. Stock and Bonds.

D. A. EASTOIV,

Wo. 5§ Broffdway. IV. Y-

A. WHITi\EY & SOIVS.

CAR WHEEL WORKS,

<:allowhill and 16tli Streets,

PHILADELPHIA, PA.

We furnish CHILLED WHEELS for Cars, Trucks, and
Tenders. CHILLED DRIVING-WHEELS and TIRES for
Locomotives. ROLLED and HAMMERED AXLES.

WHEELS AND AXLES FITTED COMPLETE.

???

^^^fff^^^H^M^

.. . .,^.^,-^P^f; . _ _ _

'NGINEERo,Mechanics,MillOwner8,Builders,iianu-
<facturer8,Miners,Merchants, Ac, will find in Moo re's
Universal A ssistant and Complete Mfxhanic, a work
containinK 1016 pa ''es, 500 Engravings, 461 Tables, and over
1.000, OtOIndustrialFacts.Calculations, Proc-pFses, Secrets,
Rules, Ac, of rare utility in 2 Trades. A $5 bookfree by
niailforf 2.50, worth itsweightin gild to any Mechanic,
FarmerorBusinessMan. Agentu Wanted. Sure sale every-
where for all time. For 111. Contents Pamphlet, terms,
and Catalogue of SOO PrActicai Books, addressNATiONAL
Book Co., 73 Beekman St., New York.

f» .^. S £1 :E3 I^ G- :E3

Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and at reasonable

Prices by the

HARLAN & HOLL.1NGS WORTH CO., Wilmington, Del.

Sandusky Rail Mill Co.
Wew Albany Rail Mill Co.

STEEL RAILS,

IRON RAILS,

BLOOMS.

^c. H.or

% 104 Jo

ODELL, AOT.

bn St., N. T.

FOR SAL. 11* I OTS TO MJIT.

Prompt DeliTcry-

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS,
AND FOR RE-ROLLING OLD RAILS.

OLD RAILS AND SCRAP AND CAR WHEELS BOUGHT AND SOLD.

SWIFT'S IRON AND STEEL WORKS,

26 W. THIRD ST., CINCINNATI, OHIO.

Manufacturers of all Weights of Standard and Narrow Gauge Ralls by the most approved process. Also Rail Fastenings

Steel and Bloom Boiler Plate, and Tank, Sheet and Bar Iron.

BETHLEHEM fRON CO.,
IRON AND STEEL RAIL8.

GEO. A. £VANS.

No. 74 Wall Street, - .- - New York.

Bailioad

Track Scales.

STANDARD

cAi-i;

AND ^

TESTING

MACHINES

PHILADELPHIA,

50 Soulh 4ih St.

NEIV YORK,
115 Liberty Street.

PITTSBURGH,
Liberty St. cor. 7th Air.

.*T. LOUIS,
609 North 3cl Street

NKW ORLRAN«,
I4:d GraTler Street.

^^>^a«i^.ae:..s,>^.^>.^<4L<i.:'.k

"^■^■^ 7?~TS?

*ay.t

?r-r:r'

AMERICAN RAILROAD JOURNAL

FAIRBANKS' *''""'*"s?albs.

aoo ^vd:oE)jno-^TioiiTS.

ADAPTED TO ALL CLASSES
OP BUSINESS.

Railroad and Warehouse Trucb,

AKD COPYING-PRESSES

I Oldest and Largest

• Scale Works in the World.

BUY ONLY THE GENUINE,

Dorm Warehouse Scales.

^-AJCEiB-A-ISri^S 6c CO.,
3tt Broadway, Kev York.

JOHN STEPHENSON CO,

[Limited.]

■ mmmmsm

XJ I i^ i>

NEW YORK.

Superior Elegnnce, Lightness and Du-
rability. The result of 50 years' experi-
ence. .

Adapted to all countries and climates.
Combining all valuable improvements.
Shipped to Foreign Parts with greatest
care, and at most favorable rates.

THE ROGERS

LOCOMOTIVE AND MACHINE f OMS,

Faterson, 3>T. J.

Having extensive facilities, we are now prepared to
furnish promptly, of the best and most approved de-
scription, either

COAL. OR 'IVOOD BVKNINU

XjOOOI^OTI-V-E BN'OinSTES,

AND OTHEB VARrETTES OF

KAILROAD inACIII\EKV.

Est£iTolislxe«a. iora. 1S31-

J. «. ROGEtlS, Prts't
H. S. HUGHES, Sec
\\M. S. HVD!»ON

rts't. ]
iec'y. I
, SupH. )

Patersoii, N. J.

AMERICAN RAILROAD JOURNAL.

PUBLISHED WEEKLY BY THE

American Railroad Jonrnal Company,

iTo- 23 Iji"bert37- Street,
I ITEW YORK.

The AMERICAN RAILROAD JOURNAL, the
oldest railroad paper in the world, was established
during the construction of the first 100 miles of rail-
road in this country. Its files of the past fifty years
furnish a complete record of the development of
American railroads and faithful chronicles of the
kindred financial interests. It contains features of
special value to investors and others desirous of being
readily acquainted with values and transactions con-
nected with the development and working of our
railroad .systems, and much of interest to the general
reader. It is taken by leading railroad men, inves-
tors and banking houses in this country and Europe,
where it lias long been a recognized authority in its
special field, being recommended as such by "Cham-
bers' Encyclopaedia" and other standard foreign and
domestic publications. We give below a few extracts
.rom opinions of the press :

From " Herapath's Railway Journal," London.

Tile American Railroap Journal, one of the
most honest and outspoken of American papers.

From the " Journal of Commerce," New York.
The American Railroad Journal, a most valu-
able weekly newspaper. Is now half a century old.

Tt. S. KCTJO-I^ES, Treas-orer.

44 Exchange Plac<^, New York

PATENTS

We continue to act as Solicitors for Patents, Caveats.
Trade Marks, Copyrights, etc., for the United States,
Canada, Cuba, England, France, Germany, etc. We
have bad tbirtyflve years' experience.

Patents obtained through us are noticed In the SCI-
ENTIFIC AMERICAN. This large and splendid Illus-
trated weekly paper, $3.20 a year,shows the Progress
of Science, is very interesting, and has an enormous
circulation. Address MUNN & CO., Patent Solici-
tors, Pub's, of Scientific American, 37 Park Bow,
"iwYoik. Hand book about Patents free.

From th« " Cincinnati Price Current."

The American Railroad Journal's list of pat-
rons h compo.sed largely of the olde«)t and heaviest
financial houses in the United States, Great Britain
an 1 the Continent, and of railway companies, manu-
facturing establishments and banking and commer-
cial houses in this country.

' From the "Pittsburg (Pa.) Chronicle "

The American Railroad Journal is authority
on railroad news.

AMERICAN

REFRIGERATOR
LINE,

New York, Oct., 1881.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported
Liquors, Patent Medicines, Es-
sential Oils, Mineral Waters,
Lager Beer, Ales and Porters,
Oysters, or, in fact, any class of
goods that needs protection
from heat or cold while in tran-
sit to the West and Southwest,
either in Summer or Winter,
will do well to ship the same by
the new and elegant cars of the

BEFIIIGEMTOR TRANSIT COMI

Guaranteed Bills of Ladings

g^lTen. I

I-

Time as quick and rates »s
low as by any first class fast
freight line. j

JC^Ship from New York via
N. Y. C. and H. K. .KB., St.
John^s Park ; from Boston yia
Boston and Albany B. R.

■. r

For rates and information apply to

FftED'K I. EVANS,

General Eastern Agent.

I- -

Fro a the " Washington (D. 0.) Law Reporter."
The American Railroad Journal is a most val-
uable pulilication, and to all persons interested in
American .railroads, earnings, dividends, etc., etc., it
is almost invaluable.

92 Wall Street, - New York.

271 Broad-way, Ne^w York,

232 Washington Street, Boston.

^^unikk.ti

m Irn'MJiVr-^^ «i'*.t>k\-:Jvl-,^-A .'^

' ^^*i>**'^'iJili!9^M,IL<IU-U.PI

.rji.yi,^ii»»^ni™pi.liiii! iiKij«. ,i Liimj^gm^^fmi^fmsli'P.

AMERICAN RAILROAD JOURNAL.

VALENTINE'S VARNISHES

ARE ON SALE IN TflE FOLLOWING COUNTRIES:

ENGLAND.

FRANCE,

GERMANY.

AUSTRIA.

SPAIN.

SWITZERLAND.
ITALY.

HOLLAND.

SCOTLAND.

RUSSIA.

*■!■

INDIA.

AUSTRALIA.

SOUTH AMERICA

NEW ZfiALAND.

MEXICO.

CUBA.

VALENTINE & COMPANY,

COACH AND CAR VARNISHES,

BAMES VACUUM SHAKE CO.

p. O. Box 2,S7li.

RAILWAY TRAIX BRAKES,

»AL.EIS oFriCli:. 15 OOLU vr , N, v. Keprrsented by THOS. PUOS»£K & SOM

The EAMSS VACTJITlfl: BRAKE is confidently oflfered as the most efficient, simple, durable and cheapest Power Brake in the
market. It oan be seen in operation uponiover seventy roads.

;*:^ • j^. /«.;._:.• -■^.•-.

'-■■■ 'i

AMERICAN RAILROAD JOURNAL.

m -

Baker & Godwin's

PRINTING HOUSE.

ESTABLISHED 1850.

MODERN RAILWAY PRINTING,

peelnl utteitilonKlvea to thisclaasor work.

This establishment is very extensive, adapted to every
variety and style of Printing, and the proprietors hope
to be favored with a share of Railway patronage. Esti-
mates furnished on application.

BAKER & GODWIN, Printers,

No. 25 Park Row, j

Directly opp. Post Office. NE"W YORK.

Printing of all kinds at greatly reduced rates.

THE RAILWAY TIMES i

AND JOINT-STOCK CHRONICLE.

The Railway Times was established in the year 1837, ana
as consistently maintained the purpose for which it was
tarted — to give an independen 1 account of all matters of
importance to railway shareholders, not neglecting, at
the same time, the duty of keeping its readers well in-
formed on air matters of commercial interest.

It is published every Saturday. Price 5d. The price of
subscription for one year is £1 1*.

No. 2 Exeter Street Strand W. C. London.

NO OTHER LINE IS SUPERIOR TO THE

FITCHBURG RAILROAD

HOOSAC TUNNEL ROUTE

"WEST.

8.30 A

DAY

EXPRESS.

fhrough drawing-room car to Rochester, N. Y., connecting with through sleeping car
?nr Cincinnati, Cleveland, Toledo, DETROIT AND CHICAGO,

CINCINNATI

-'i

EXPRESS.

KNOX & SHAIN,

Manufacturers of Engineering and Telegraphic Instru-
ments. No. 716 Chestnut Street, Philadelphia. Two
Medals awarded by the Franklin Institute, and one by
the Centennial. '

OUSATONIC RAILROAD

THE ONLY LINE RUNNING

T XI I^ O TJ <3- XI O-A-IR-S

Between New York, Great Harrington, Stockbridge. Len-
ox, and Pittsfleld— the far-famed resort of the

Berkshire Hills

Western Massachusetts— the "Switzerland of America."

Two through trains daily between New York City and
all points on the Housatonic Railroad, from the Grand
Central Depot via the New York, New Haven, and Hart-
ord Railroad at 8:05 A. M. and 3:43 P. M.

Descriptive Guide Book sent free upon application to
the General Ticket Agent.

li. B. STIIiliSON. Supt.
H. D. AVERIIili, Gen. Ticket Agt.
thn'l Offices, Bridgeport. Ct.. Nov. 7. 1881.

Pullman Sleeping Car attached, rurming through to Cincinnati without change. (Onh
Line running Pullman Cars irom Boston.) This car runs via Erie Kailway, making direc
3onnection for Louisville, St. Louis, Kansas City, New Orleans, and all points in Texas an(
New Mexico.

Boston, Hoosac Tunnel, and Western

^ PULLMAN LINE between BOSTON and the WEST.

' "VTA THE

All the Modern Appliahces-

miller's patent platforms and buffers,
westtnghouse improved air-brakes,
coaches heated by steam.

steel rails. iron b^pges.

ask for tickets via the

UaOSAC TUNMEL AID TNE N. L luE ErIE, AND WeSTEIN Rt.

P. ST. LOUIS

M. EXPRESS.

THE ONLY LINE which runs a THROUGH SLEEPING-CAR from

BOSTON TO ST. LOUIS WITHOUT CHANGE!

ARBIVING AT 8.00 A.M. SECOND MQRNING.

•Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville
Tolono, Decatur and St. Louis, maliing direct connection with through Express Trains fo:
Kansas, Colorado, Texas, and all points in the

SOUTHWEST.

p. PACIFIC

EXPRESS.

The only line running a through sleeping car via Buffalo and Detroit without change,
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex-
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast. Wisconsin, Minnesota
and all points in the

WEST AND NORTHWEST.

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED.

Tim Great Short Line passes through the most celebrated scenery in the country, including the famous
, HOOSAC TUNNEL, four and three-quarters miles long, being the longest Tunnel

in America, and the third longest iu the world.

ricketti, Orawlns-Rooiii and Sleciiing-Car AccoiiiiiiudatioiiM may be secured in Advance
I ' by Applying to or Addre»i«ingr

250 WASHINGTON STREET, BOSTON. 250

I JOHN ADAMS, General Superintendent. "i

F. O. HEALD, Acting Gen'l Passenger and Ticket Agent.

AMERICAN RAILROAD JOURNAL.

First-Class English

Iron AND Steel Rails

AT LONDON PEICES, F. 0. B.

We also purchase all classes of Railroad Securities,
and negotiate loans for Railroad Companies.

Wn A. GUEST & CO.,

Nos. 41 and 43 Pine Street, New York.

Safety Railroad Switches,

WITH MAIN TRACK UNBROKEN.

Railroad Crossings, Frogs, and Other
Railroad Supplies.

MANUFACTURED BY THE

WHARTON RAILROAD SWITCH CO.,

PHILADELPHIA.

Works: ttSd and Wasliinerton Ave.

Office: tl§ South 3d Street.

STEEL

CAR

PUSHER

MADE ENTIRELY OF STEEL

ONE MAN with it can easily
move a loaded oar.

Manufactured by E. P. DWIGHT,

Dealer in R.vilroad Supplies,

407 LIBRARY ST.,

PHILADELPHIA.

COMBINATION SAW.

Without Lathe.

FIDELITY AND CASUALTY COMPANY.

CASH CAPITAL, - - ^ - $250,000.

FIDBLiIT^X" BOISTDS.

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and responsibility,
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the faithful per-
formance of the duties of employes in all positions of trust.

-A.OOIIDE1TT FOLiIOIES.

Policies issued against accidents causing death, or totally disabling injury, insuring from Five Hundred
Dollars to Ten Thousand in case of death, and from Three Dollars to Fifty weekly indemnity in case of dis
abling injuries.

WM. M. RICHAHDS, P*-«'<. JOHN M. CRANE, S«:'y.

Price $6 without Lathe ; with Lathe, $8.

Addkess the Manufacturebs,
C. M. CRANDALL. & CO.,

MONTBOSE, Susquehanna Co.. PA.

IDIRBOTORS :

George T. Hope.
G. G. Williams.
J. S. T. Stranahax.

H. B. Claflin.
A. S. Barnes.

H. A. HURLBUT.

W. G. Low.
Charles DEV^^s.
S. B. Chittenden.

George S. Coe.
Wm. M. Richards.
A. B. HoLU

PARDEE CAR VrORKS.

WATSONTOWN, PA.

PARDEE, SMIR k (0., llHilfED

PUOFRIETOKS.

li^anviffeiot'u.rers of

Mail, Baggage, Box, Gondola, Flat, Gravel,. Ore, ('oal, Mine, and Hand Cars;

Kelley's Patent Turn-Tables, and Centei^s for Wooden Turn-Tables;

Car Castings, Railroad Forgings, Rolling-Mill Castings,

Bridge Bolts and Castings.

j^"We have, in connection with our Car Works, an extensive Foundry and Machine-shop, and are prepared
to do a general Machine Business.

Chairman,
ARID PARDEE

, r

Treasurer and General Manager, Secretary,

, H. P. SNYDER. N. liEISEB.

NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY.

C. "W. LEA VTTT, Agent.

STEEL
CASTINGS

FROM 1-4 TO 10,000 lbs. WEIGHT.

True to pattern, sound and solid, of uncqualed strength, toughness and

durability.
An invaluable substitute for forgings or cast-irons requiring three-fold

Ptreneth.
CROS.S-HEADS. rocker- arms. PISTON-HEADS. ETC., foi

Locomotives
15,000 Crank Shafts and 10,000 Gear Wheels of this steel now running

prove 1 ts superiority over other Steel Castines.
CRANK-SHAFTS, CKOS.S-HEADS and GEARINi

Circulars and Price Lists free. Address

GEARING, specialtie*.

CHESTER STEEL CASTING CO.

407 I^lbrary St., PHILADELPHIA
^Forka. CH£ST£R. Pa.

Mff lORK.lAO E RIE, AID W ESTEBI RAllffAI

TO THE TR,-A."VE3rjIN"Ca- FXJB3LiIO.

During the Centennial season— six months closing September 10, 1876 — the Erie Railway cairied
Thbke Million passengers, without a singe accideijt to life or limb, or the loss of a piece of baggage.

And for a whole year the official records of the United States Post Office Department show the tt rivak
Erie Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competing lines.

Facts well worthy the consideration of travelers.

E. S. BO"WEN, General Superintendent.

JNO. N. .ABBOTT Gtm.

:.-*»_ iii^>i

tVw.V'l LjSit ' J"

f*p«H5»^w*iBB3T!^pii«wr^^l«»!5f"»»T^w^7^

AMERICAN RAILROAD JOURNAL.

;'• V ••;;*:

y • --■ . ■■». .

iliis uiittenal la ludistruotiblc aud tlierclort; valuable lor all purposes oi

HEAT,

SOUND

.A.3srr>-

FROST-PROOFIJ\G.

Over 3,600,000 lbs. now in actual use ; 614,000 lbs. of which have been applied in cars as shown in diagram.

Adopted by the Nftw York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution.

Sample and circular free by mail.

UNITED STATES MINERAL WOOL COMPANY,

N"o. IS Cortlandt Str-eet,

l^TE-W ITG-RS^.

EAGLE
TUBE CO.,

614 TO 626 WEST 24TH ST

New York.

Boiler

Tubes,

THE PERFECTED

EMINGTON

1. '

Of all reg^ular sizes, of the
best material, and

warranted.

■- ' •- " -■ ■ -. ■ -' ■'

Locomotiye Water-Grates a

specialty, and 20 per cent

below regular prices.

Prices lower than other Manufacturers.

NO PAYMEUT REQUIRED XTNTHi

TUBES ARE TESTED AND

SATISFACTORY.

N, B — Send for Stock I.ist.

ALOJNZO FOLLETT,

T¥PE-WRITER.

A WRITING - MACHINE which combines
ease with rapidity and accuracy,
\ ] and economy with elegance
1 i and convenience.

Adapted to general use. Every machine
i 1 ]} guaranteed.

Send for Circulars with names and testimonials of
recent patrons.

i E. REMINGTON & SONS,

281 and 283 Broadway, New York.
i 38 Madison Street, Chicago.
j 124 South Tth Street, Philadelphia.
I 21 South Howard St., Baltimore.

I [MenAion tbu paj»«r.]

STI^EET.

Paiiie. Webber & ( o.,

\ ^ Bankers and Brokers,

JVo. lis Devonsliiri' St.. Boston

j {Members of the Boiton Stock Exchange.)

RAILROAD IRON.

The undersigned, agents for the manufacturers, are
prepared to contract to deliver best quality American

"Welsh Steel or Iron Kails, and of any required
weight and pattern. Also Speigel and Ferro Manganese.

PEBH.INS & CHOATE,

33 Nassau Street, WRW YORK.

John H. Davis & Co.

BMEBS AND BROKERS,

No. 17 l¥all St.. N«>ur %ork.

Interest allowed on temporary and standing deposits.
Stocks and Bonds bought and sold on Commission only,
either on Margin or for InreKtment.

1SSTABL.ISHED IN 1836

LOBDELL CAB WHEEL COMPANY,

IVllming^ton, Delaware.

■; '1: ;■: ■':

GEORGE G. LOBDELL. rresident.

WILLLA.M W. LOBDELL, Secretary.

P. N. BRENNAN, Treasurer.

J. C. BEACH, Treas.

C. H. ANTES, Sec-y.

TKB

Negotiator of prime Commer-
cial paper at Low Rates. Does
not solicit and will not take
hold of any but concerns whose
paper is A 1. j

' ' . *' * ■ --■■'■.:- ■ * ; '■

Devote special attention to the purchase and sale of
Stocks and Bonds in the Boston market, the .careful se-
lection of securities for investment, and the negotiation
of commercial paper.

Wm. A. Paine. Wallace G. Webber. C. H. Paine.

ALL ABOUT HAR^SAS

THE WEEKLY CAPITAL is an eight-page, 48-COLTJMN
paper, published at Toveka, Kansas, giving full and re-
liable State news, crop and weather reports from every
County. fl.OO per year. Sample copy free.

ALLEN PAPEB CAB WHEEL COMP'I

Gen'l Officr, 340 Broadw»), N. V.

WoBKs AT Pullman, III., and Hudson. New York.

AN INDESTRUCTIBLE WHEEL FOR PASSEN-
GER CARS AND ENGINES.

E. W. Vandebbilt.

E. M. Hopkins.

VANDERBILT & HOPKINS,

Kailroad Ties,

Car and Railroad Lumrer, White and Yellow Pine and Oal
lao L.it>erty Street, 1%. Y,

Also North Carolina Pine Boards, Plank, and Dimen-
sions Lumber to order. General Railroad Supplies.

••;-!'•- 3»

Steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures.

Sbcomd Quarto Sebies. — Vol. XXXVIII., No. 3.]

NEW YORK, JANUARY 21, 1882.

[Whol« No. 2.387.— Voi^ LV.

The First Wagner Sleeping-Car.

The following is Senator Webster Wagner's
account, as nearly as the writer can remember,
of the way in which he induced Commodore
Vanderbilt to adopt his Sleeping-Car :

"I had never thought of the sleeping-car
until I saw one, of a very clumsy pattern, that
had been built by some man living up beyond
Palatine Bridge. The man had no capacity, no
capital, and not much inventive genius. I
thought right away that the idea was a good
one, but that it was be developed. I hadn't
much capital either, but I saw that I could do
better than the man who had made this first
attempt, and I immediately applied to Mr. Wil-
liam H. Vanderbilt to be allowed to use an old
car to illustrate my notion of what a sleeping-
car should be. I saw that the Hudson River
Railroad was sharing a large business with the
night boats, which it ought to have itself. Men
who needed all the time they could get be-
grudged the five or six hours lost in traveling
between Albany and New York by boat. It
seemed to me that much time could be saved
by providing accommodations for merchant's
and others who ^yould be glad to sleep while
■ they traveled rapidly. My request for an old
car was granted, and I went to work to fit it up
with berths. It took me months to finish the
car in such a way as to satisfy me that it would
do to show. When it was completed, there
was another difficulty. Until it had been seen
and approved by Commodore Vanderbilt, it
could not be used on the Hud.son River Rail-
road. So I went to Mr. W. H. Vanderbilt and
urged him to induce the old man to name a
day when he would look at it. At first the
Commodore would pay no attention to the re-
quest, but at last he said that on a certain Sun-
day morning— it was early in the year 1858—
he would come to the Thirtieth street depot
to look at the new-fangled car. It was a criti-
cal moment for me that Sunday morning when
I waited in my car to show the Commodore
through it and hear his verdict. I walked
through the car a dozen, perhaps a hundred
times to see that everything was right. At last
the Commodore arrived with his son. He came
in. said • Good momine,' and then I led him
from one end of the car to the other, explain-
ing its arrangements with my heart in my
mouth, not daring to ask his opinion. He
walked back and forth, looked at the berths,
the curtains and seats, and at last sat down in
one of the compartments— the car was divided

into several saloons — and spread out his hands
upon one of the adjustable tables. I watched
him. He was ready to say something, and I
was afraid he would condemn the work.

" How many have you got of these things ?"
was his first question. ^^

" I told him I bad only one.
" ' Go ahead, said he, ' and build more. It's
a devilish good thing and you can't have too
many of them.'

" My heart dropped back in its place and I
knew that my fortune was made. With my
brother's help four cars were built, and we had
them running in the Fall of the same year. "

Mr. Wagner then went on to explain the dif-
ference between the first cars and those of a
more recent make. The earlier on«s were not
provided with folding arrangements, in which
the mattresses, pillows, linen, and blankets
could be stowed away snugly. The first car
had a single tier of berths, and the bedding had
to be packed away in a closet at the end of the
car, occupying a great deal of valuable space.
One tier of berths was not profit enough, and
a second tier was put in. The upper berths
were too close, as the roof was flat, and to over-
come that objection the pitched roof, much
higher than that of the old cars, was devised
and applied, securing ventilation and eventu-
ally admitting the swinging upper berth now
used. This pitched roof was patented, and has
been used everywhere, since it was adopted by
Mr. Wagner, with great profit to its inventor.
After the cars began to be used, Mr. Wagner
said he had no difficulty in getting all the capi-
tal he wanted, although Commodore Vander-
bilt insisted that the cars should be built by a
company, and that he must have an interest in
the concern. An arrangement was made that
has been carried out to the satisfaction of both
the Vanderbilts and Mr. Wagner.

Senator Wagner said, on this occasion,
that after the sleeping and drawing room
cars came into use he had repeatedly gone
abroad to study the methods of construction
of railway cars on foreign railways, and he ex-
plained with some minuteness the English,
French, and Swiss csuriages, som& of the cars
on the Swiss railways having impressed him as
superier to most of the others he had seen. He
complained that nearly all of them were desti-
tute of conveniences which are regarded as ab-
solutely necessarj' by American travelers, and
he was convinced that the time was not far dis-
tant when travelers from Europe, who had been
in this country, would succeed in convincing

foreign railway managers of the importance of
adopting the baggage check system, the bell-
rope signal to the engineer, and other Ameri*
can ideas. He had narrowly escaped injury in
several accidents to trains on which he was
traveling, and described one smash-up in which
he had left the baggage car only a few moments
before collision, by which the car he had been
in was wrecked and a man with whom he had
been talking was killed. He spoke of his im-
munity from injury as something almost mir-
aculous for a man who had traveled go son-
stantly for more than 20 years.

Railroads of Arizona.

The completion of the Southern Pacific Bail-
road across Arizona marks a new era in the
history of the Territory. No longer is it an
unknown land, isolated from the busy centers
of civilization, trade, and active industry ; the
dangers and discomforts of long and ^eary
stage rides, have been superseded by the luxury
of the palace car, and a trip to the *' marvelous
country," at the present time, will be found
both pleasant and profitable. The Southern
Pacific enters Arizona at Yuma and crosses the
Territory between the 32 and 33 degrees of
latitude. Its length within the boundaries of
Arizona is over 400 miles. Since the building
of the road, many towns and mining camps
have sprung up in the country adjacent ; an
army of prospectors, traders, and speculators
has filled the Southern counties, and the
steadily increasing volume of bullion which is
finding its way out of the countrj', is an earnest
of what other portions of the Territory' will do
when they are likewise in possession of rail
communication. At Deming, near New Mexi-
co, about 90 miles East of the Arizona line,
another great transcontinental route, the Atchi-
son'^ Topeka, and Santa F« railroad, forms a
junction with the Southern Pacific. This line
(Atchison, Topeka, and Santa Fe) begins at
Kansas City, Missouri, traverses the plains of
Elansas and Colorado, enters NewMexico, and
passes down the Rio Grande valley, from
whence the main line turns West towards Ari-
zona, while another branch follows the Rio
Grande to El Paso. From Deming, the Atchi-
son Topeka and Santa Fe Company have .their
road surveyed to Tombstone and Tucson,
where it is expected it will connect with the
branch which is now building from Guaymas,
through the State of Sonora. The opening of
this great thoroughfare will give Southern
Arizona direct rail connection with the Gulf of

;; 1-

ii-

rr-:

.TJ^rar^T, H/^* » ,7^1*;'

•"fWFJ'*

AMERICAN RAILROAD JOURNAL.

■?.'

Calit'orniti, as its junction at Deming with the
Southern Pacific has already linked it with the
Mississippi valley and the Atlantic seaboard-
Ann mg the branch roads projected from the
line of the Southern Pacific, is that from Ben-
son station to the City of Tombstone, a dis-
tance of 28 miles. Ground has been broken
for this branch, and it will be finished at an
early day. A branch has also been surveyed
from Wilcox to the town of Globe. The length
of Cliis proposed line wiU be something over
100 miles. It will pass through one of the best
grazing portions of the Territory, by the lately
discovered coal fields near the Gila, and will
open up to capital and immigration that rich
mineral region which has Globe for its, center.

Another bmncli line is in "contemplation
from Casa Grande station to Pinal, by way of
Florence. It will pass through the rich valley
of the Gila and penetrate the extensive mineral
region embraced in the Pioneer, Pinal, Mineral
Creek, and other rich districts of Pinal county.

The Southern Pacific company have surveyed
a line from Yuma to Point Isabel, on the Gtilf
of California. A good harbor is said to exist
at that place. The building of this branch will
give the Territory another outlet to tidewater
on the gulf. A line has also been surveyed
from Yuma to the rich mining camps of Castle
Dome and Silver district, on - the Colorado
river.

In the Northern part of the Territory, the
construction of the Atlantic* and Pacific rail-
road is making i*apid progress. This road
leaves the Atchison, Topeka and Santa Fe at
Albuquercjue, and takes a westward course
across the Territory, following nearly the 35th
parallel of north latitude. The road will pass
about 50 miles North of Prescott, the capital of
Arizt^na, and will cross the Rio Colorado at the
Needles. This road will have terinini at San
Francisco and San Diego. The Atlantic and
Pacific line will open to the capitalist, the
miner, and the stock raiser, some of the finest
grilling and richest mineral regions to be found
on the continent ; it will also pass through the
best timbered portion of the Territory. A fran-
chise hiis been granted by the last Legislature
to build a branch from Prescott to the Atlantic
and Pacific. The extensive mining, farming,
and grazing interests, of which Prescott is the
natural center, require the construction of such
a road, and it will no doubt be completed with-
in a short time. " . -

Besides the roads now bwilfling and those
projected, which have been mentioned, the
Utah Southern is being pushed down to tha
Colorado river, with the intention, as is gener-
ally supposed, of seeking an outlet on the Gulf
of California. This would give Arizona a con-
nection with the Union Pacific and another
route to the East and West.

From this brief review of the railroad situa-
tion, it will be seen that all the principal poicts
in the Territory will soon be in possession of
rail communication. It is safe to say that
within the next two years all the leading towns
and m'ning caiups will be linked to the outside
world with iron hands. The benefits which
cheap freights and rapid transit will confer on
the Territory are almost incalculable. Besides
that the- building of the road on the 35th paral-

lel will give the people of Arizona a competing
line to the marts of the East and the West, it
will help to maintain a haalthy competition,
and prevent discriminating and oppressive
charges on freight and travel which the cor-
poration controlling the Southern Pacific have
always shown a disposition to indulge in when
there was no opposition.

Commerce of Nev^r York.

The foreign imports at New York for the
month of December were :—

1879. 1880. 1881.

Ent. for COU8 $15,191,709 $14,726,093 $19,303,335

Do. for warehousing 7,875,733 5,817,234 6,106,934

Free goods 15,805,136 10,540,073 13,894,803

Specie aud bullion.. 6,751,319 16,202,447 1,757,101

Total ent. at port.... $45,683,897 $67,285,847 $41,121,455
Withdrawn from
warehouse 4,4^3,935 6,835,847 6.499,736

This brings the total for the year 1881 up to
$495,42^,900, against $539,386,776, for the year
1880, and $424,189,123 for the year 1879.

The following is a classification of imports at
New York for the years : —

1879. 1880. 1881.

Dry Goods .^91,549,600 $119,844,120 $111,537,020

General mdse 24«,443,414 344,332,560 327,864,653

Specie 84,196,109 75,210,096 56,923,233

Total $424,189,123 $539,386,776 $495,424,906

The duties received at New York for the
twelve months ending with December were :

1879.

Jan $7,665,552 67

Feb 8,229,362 U<>

Mar 9.330,695 68

April 1,184,797 88

May 7.577,733 93

June..... 7,198,779 44

July 9.329.895 17

Aug 10,562,138 82

Sep 11,790,902 26

Oct 10,952,554 48

Nov 8,460,050 08

Dec 8.175,540 13

1880.

$11,960,677 78

11,2.55.002 24

14.469,557 65

11,901,071 43

9.752,773 54
10,699.840 52
13,360.394 37
14.492.361 87
12,856,636 10
10.574,333 53
9.V79,082 36

9.230,734 57

1881.
$10,571,559 15
11,^17,766 87
13,122,964 03
11,678,760 93
11,055,935 39
10,993,452 70
12,079.573 95
15.204.469 51
14,104,647 58
13,011.426 27
9.711,039 46
10,972.231 38

Total... '.$107,448,002 60 $140,632,065 96 $143,724,917 22

The exports from New York to foreign j:)orts
in the month of December were : —

1879 1880 1881

Dom. produce $33,126,695 $33,620,453 $29,430^216

For. free goods 272,895 978,709 1,156.495

Do. dutiable 449,973 415,127 643,635

Specie and bullion... 643.804 1.66T.962 1.104,760

Total exports $34,493,367 $36,682,251 $32,335,106

Do. exclusive of spe-
cie 33,848,563 3.5,104,289 31,230,346

The exports from New York to foreign ports

exclusive of sj^ecie for the years named were :

1879. 1880. 1881.

lst<iuar $78-474,748 $82,934,173 $94,961,907

2d " 79,982,231 112,049,304 91,:107,603

3d " 96,423,052 113,106,665 100,488.172

4th f 101,337,534 107,732.685 86.648.687

Total $356,218,565 $415,822,827 $373,136,370

Asbestos Faint.

SoMK interesting tests have recently been
made in England of the value of asbestos paint
applied to wood, canvas, and other combustible
materials. Amongst other experiments a piece
of light pine wood, about six inches long by
four inches square, painted with nve coats, was
placed for upwards of half an hour in an ordi-
nary grate fire, but, although the wood within
was reduced to charcoal, there was no blaze
whatever emitted during the charring. A small
model theatre, built of wood, with net scenes
and accessories, was sprinkled with turpentine
and set on fire. Every portion ignited and the
whole was consumed. A similar model, with
the net scenes and the wood framing all painted
with asbestos, was drenched with turpentine
and set fire to, but the thin scenes were only

partially charred at the lower ends with the
turpentine flames, whilst the timbering was
not even ignited. Similar illustrations were
made with two models of larger size about four
feet cube, built on a bed-plate of one inch deal
board, and set fire to by a bundle of shavings.
The one was burned and the bed-plate set on
fire. In the other case, where the framing
scenes and bed-plate had been painted with
a.sbestos, no ignition was effected, and, although
the lower portions of the light scenes were de-
stroyed by the fierce flames of the shavings,
the rest remained intact, f ■

"Water-Pow^er in the Southern States.

Virginia has a water-power of great extent
and value. Almost all the streams in the state
have ample fall for mill-seats. The line of the
James river from Buchanan to Richmond is a
favored locality for manufacturing. Jackson's
river, a branch of the James, has a large fall
from its head to its junction with the James.
Lynchburg has an excellent water-power.
There are many rivers originating in Middle
Virginia which have sufficient fall for manufac-
turing ; those in the Piedmont have a still
greater fall ; and those in the valley and Blue
Ridge and Apalatchia have a fall varying from
500 to 1,000 feet, which may be used for manu-
facturing. The whole country from the Poto •
mac to the Dan abounds in manufacturing
sites. On the 100,000 available horse-power
on the James, 44,800 of this power exists from
Richmond to Bosher's dam — ten miles — with a
fall of 130 feet. ] ,

North Carolina is estimated to have more
than three million horse-power in her streams
from the table lands to the sea. This exceeds
that of all the steam engines in the United
States and Great Britain. - j

Prof. Kerr estimates the water-power of that
pait of Roanoke river within the State at 70,-
000 horse-power ; that of the Yadkin at 225,-
000 ; that of the Catawba at 184,000 or enough
in the last to turn 7,360,000 spindles, and that
of the Cape Fear, Haw and Deep rivers com-
bined at 130,000 horse-power, a force suflicient
to turn 5,200,000 spindles. Thus far these im-
mense powers waste themselves in almost un-
heeded call.

South Carolina has over two millions of
water-powers from water falling in the State.
The commissioner of agricultural of that State
ays :—

"Considering the magnitude of the North
Carolina water-shed that finds its drainage
through this State estimated at 3,370,000
horse-j)Ower, we may safely add from this
source one million to our estimate, giving a
total of three million horse-powers for the
State."

Georgia does not fall behind her sister States
in her water-power. The differences of eleva-
tion between the sources among the mountains
and the mouths of the rivers emptying into
the ocean or gulf, ranging from one to three
thousand feet, demonstrates the abundance
and value of the water-power of the State,
The Chattahoochee, Etowah, Savannah, Broad,

Ocmulgee, Flint, Ogeechee, Altamaha and other
rivers and streams afford power enough to
satisfy all the demands that can be made by
manufactories. — Southern Railway Gazette.

AMERICAN RAILROAD JOURNAL.

PUBLISHED WEEKLY BY THE

AMERICAN RAILROAD JOURNAL CO.,

At 23 Liberty Street, New York.

Subscription, per annum, in advance $5 00

Foreign Subscription, including postage 6 00

Purchases for the Astebican Railboad Joubnal Co. are
authorized only by the written order of Geo. F. Swain,
Treasurer; and the Company will not be responsible for
the payment of bills unless accompanied by such order.

Subscribers are requested to report to our office any
irregularity in receiving the Joubnal.

Contributed articles relating to Bailroad matters gen-
erally. Mining interests. Banking and Financial items,
Agricultural development, and Manufacturing news, by
those who are familiar with these subjects, are especial-
ly desired.

Payments for advertising and subscriptions should be
made by check payable to order of the Treasiirer.

BRANCH OFFICE:
93 Devonsbire St., Boston, I^Iass*

Mr. Fbedebio Algae, Nos. 11 and 12 Clements Lane,
Lombard Street, London, E. C, England, is the author-
ized European Agent for the Joubnal.

Ne-w York, Saturday, January 21, 1882.

Entered at the. Post Office at New York City as Second-Class
Mail Matter.

PRECAUTIONS AGAINST RAILROAD
ACCIDENTS.

nPHE terrible disaster on the New York
Central and Hudson River Railroad
last week, in the intensity and cruel bit-
terness of its horrors and the causes
which made its occurrence possible, must
of necessity stand, in the estimation of the

general public, as a most unfortunate re-
flection upon the railroad and train man-
agement, upon whom the responsibility is
placed. Theories in abundance are afloat
as to the causes, and investigations will
doubtless fix somewhere a personal re-
sponsibility. But the causes are plain
enough, and while the advancement of
theories may result in good, still not much
theorizing is needed to demonstrate why
such a disaster was possible or quite
probable. One long train of magnificent
cars, supposed to be a model train in
equipment and management, and crowded
with passengers, is closely followed by a
local passenger train, neither train run-
ning on its regular time. The first train
is brought to a stand-still at an unusual
point and its pursuer is not stopped, but
plunges into the rear drawing-room car
at full speed. The results were terrible
and heart-rending enough, but it is a
wonder that they were not still more so
under the circumstances, and it seems

almost miraculous that the destruction of
life was not even greater. The local
train which followed the express was not
stopped in this case, and under the system
it is not necessarily surprising though it is
shameful beyond expression, that it was
not.

The rules of the railroad company were
sufficiently explicit in this matter, but
there was no guarrantee of their being
carried out save the faithfulness and
ability of two men — the brakeman at the
rear of the express train and the engineer
of .the local. The disability or careless-
ness of either one of these men must re-
sult in destructive consequences. This is
the risk in all such cases where the sole
dependence is up on one man, and this risk
is very conspicuous in the case of a man
stationed at the rear of a long train,
where his movements cannot be watched
by a superior officer or his disability
noticed and promptly met by a compan-
ion. One of the chief merits of the sys-
tem known as the block system is that
the absence from his post of the signal-
man, or his disability, leaves the signal in
such a manner as to notify the engineer
to stop, which the rules require him to do
in all cases until the signals indicate that
the '' block " ahead is clear. In cases
where this system is not used there evi-
dently is an imperative need that there
should be some one on the train whose
first duty it should be in the case of an
accident or an unusual stop to see that
every train man is at his post, and especi-
ally that no disability or carelessness has
prevented the brakeman on the rear car
jrom performing his important duties.

A train like the one in question, to
which may be entrusted daily the lives of
perhaps 500 passengers or more, should in
all respects be as complete in its equip-
ment and in the number and character of
its trainmen as human skill and judgment
of men can possibly make it, as should be
the case, for that matter, with every
train, great or small, carrying passengers.
Railroad men constantly have impractical
ideas and suggestions placed before
them, but certainly there is nothing un-

reasonable in the demand that all possible
appliances for preventing and extinguish-
ing fire and for extricating passengers
from wrecked cars should be an acknowl-
edged and never neglected part of a pas-
senger train's equipment, and that the
trainmen should be trained in the perfor-
mance of the duties devolving upon them
in cases of emergency as are the men on
board an ably commanded ship. The
terrible experience of last week has fully
illustrated the necessity of these precau-
tions, and the demand for them must be
met. This is a point upon which there
can be but one opinion as to the pro-
priety of legal action in cases where
the indiflerence or shortsighted selfish-
ness of railroad managers prevent their
adoption. The demands that are made
in this direction must be listened to, and
^''\\\ be by all men worthy of public
esteem and the responsible positions of
railroad managers.

Nickel— Origin of its Name.

" Nickel," says an old magazine of 1824,
'* signifies iii German, from which it is derived,
false, dirty or foul, and in this sense is applied
to the very worst description of females. Now,
nickel is found in different parts of Germany,
and was supposed by the miners to be copper.
As they could not, however, extract any copper
from it, they gave it the name of Kopfemickel,
or false copper. When a scientific chemist by
the name of Cronstedt came to examine it,
about 1750, and found that it was metal differ-
ent from all others, he retained the latter part
of the name, given it in reproach, and called it
nickel, which has since been universally adopt-
ed ; and thus an element of nature is stigma-
tized by a term than which no more oppobri-
ous name can be given to a woman. For any
other people but Germans this is certainly of
no consequence, but it is rather a curious spec-
imen of the manner in which names, that in a
scientific point of view ought to express the
qualities of substances, are applied. Nickel is
rather a scarce mineral, and is always found
combined with some other metals, which, for a
long time, occasioned its separate existence to
be denied. The brittle metal that is usually
sold under this name always contains iron, ar-
senic, copper, cobalt and bismuth. When pure,
it is a fine white color, resembling silver, and
it is rather softer than iron. It is malleable
both when cold and hot, it is attracted by the
magnet, and, like steel, may be converted into a
magnet, pointing, when suspended, to the north
like a common magnetic needle. It is put to no
use, and is, perhaps, most remarkable on ac-
coTint of its forming a part of almost all the
stones that have fallen from the sky (meteoric
stones) in every part of the world."

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AMERICAN RAILROAD JOURNAL.

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CONSTRUCTION".

A RAiuROAD is being surveyed from the vicin-
ity of Maricopa, Arizona, to Phoenix, thence to
, the Vulture Mine and Prescott.

A CONFERENCE of railway managers has fixed
the time for opening the entire St. Gothard
Railway line on the 1st of July.

The track of the Mexican National Railway
is now completed across the State of Tamauli-
pas and is being laid at the rate of a mile a day
in the State of Nuevo Leon.

The Baltimore and Delta Narrow-Gauge Rail,
way Company commenced this week to lay
tracks on the Sheppard Asylum property, about
1 mile from Towsontown. •

The grading for the 2-ih miles of double track
of the Baltimore and Potomac Railroad was
commenced this week at Odentown. The work
is to be completed by July next.

The Upper Lehigh Coal Co. are building a
narrow gauge railroad from their Green Moun-
tain slope to their Upper Lehigh breaker, a
distance of two and a half miles.

The Youngstown News says that the contrac-
tors are working along the line of the Pitts-
burgh, Youngstown and Chicago Railway a
new road being projected from Akron to Pitts-
burgh.

The directors of the Atlantic and French
Broad River Railroad met at Abbeville, S. C,
on the loth inst, and signed a contract with
Childs & Oliver, of New York, for jthe building
of the road. 1 "

Thb w^ork of surveying and locating the
Steubenville and Cleveland Railroad was com-
menced on the 9th inst., at a point on the
Cleveland and Pittsburgh Railrond 7 miles
abovo Steubenville.

The Denver, Utah and Pacific Railroad be-
tween Denver and Longmont was opened for
business on the 17th inst. Freights are now
being run through without breaking bulk be-
tween Denver and Kansas City. i

The directors of the Southern Pacific Rail-
road Company of Arizona have appropriated
$300,000 for the construction of the Yuma and
Port Ysabel Railroad. The latter, according
to President Crocker, will be completed in 60
days.

The name of the Bellaire, Beaver Valley and
Shawnee Railway Company has been changed
to the Wheeling, Cincinnati and Mineral Rail-
way Company ; its termini has been changed to
correspond, and its nominal capital increased
to $5,000,000.

The first train over the Toledo, Delphos and
Burlington Railway from Cincinnati, arrived at
Dayton on the 12th inst. This makes the con-
nection complete between Cincinnati and Tole-
do over the Toledo, Delphos and Burlington
narrow-gauge route. The road has yet to be
ballasted before it is opened for regular busi-
ness.

The directors of the Philadelphia, Wilming-
ton and Baltimore Railroad Co., at their recent
annual meeting in Wilmington confirmed the
the purchase of the Delaware and Chesapeake
Railroad, which runs from Clayton, on the
De^ware Railroad, to Oxford, Md., 54 miles.

The road will pass into the hands of the new
owners about February 1st.

The Harrisburg and Potomac Railroad has
been completed to Leesburg, Pa., and trains
are now running to that point. There is still a
link of 4 miles between Leesburg and Ship-
pensburg to complete. Workmen are busily
engaged in pushing the work of grading along
rapidly, and it is thought trains will be run-
ning into Shippensburg about the last of
March. .

The directors of the Canadian Pacific Rail-
way resolved not to build the contempiatel
branch to Sault Ste. Marie, but to connect with
the Chicago and Northwestern Railway instead.
While their line along the North shore of Lake
Superior is in progress of construction the
company will use fast stearmers to carry
freight from Algoma Bay to Chicago and Thun-
der Bay.

Ground was broken on the 10th inst., at St
Louis on the extension of the Atlantic and
Pacific Railroad, from Vinita, Indian Territory,
to the Arkansas River. A large" force will be
put at work, and the whole section of 65 miles,
the contract for which was let some days ago,
will be ready for the rails by May 1. Several
engineering parties are locating a line from the
Arkansas river to Albuquerque, New Mexico.

It is expected that the new short line of the
Chicago, Milwaukee and St. Paul Railway, -be-
tween Chicago and Omaha will be opened about
the middle of May. By this line it is only 46b
miles from Chicago to Omaha. The line inter-
sects the Chicago and Northwestern Railway at
Marion, and then runs parallel with and be-
tween both the Chicago and Northwestern, and
the Chicago, Rock Island and Pacific railways,
the entire breadth of Iowa, intersecting the
latter road a few miles Northeast of Council
Bluffs.

It is stated on good authority that the money
has all been raised for the building of the
North Shore Railroad of Long Island, and that
the contracts will shortly be awarded. The
Long Island Railroad Company, will in the
course of a few weeks begin work on the ex-
tension of the Locust Valley branch, to run
through the villages of Oyster Bay, Cold Spring
and Huntington to GreenlawD, and the exten-
sion of the Port Jefferson branch to Riverhead
and Greenpoint. From Greenpoint connection
will be made by ferry with Fort Pond Bay.

The new Stony Clove and Catskill Mountain
Railway, connecting Hunters, Tannersville,
and the old Greene County region of the Cats-
kills with the Ulster and Delaware Railroad at
Phoenicia by way of the famous Stony Clove
Notch, began running to the latter point on the
16th inst. It has been in operation as far as
Edgewood, 8] miles from Phoenicia, since last
August .It is now completed to within four
miles of Hunter's Village, its proposed termi-
nus, and two miles from Tannersville Junction.
All is to be in readiness for the regular sum-
mer mountain travel by June next.

A MOVEMENT is OH foot to build a railroad
from Kingwood, Preston county. West Virginia,
to some point on the Baltimore and Ohio line.
Several prominent persons, including Senator
Dawson, Hon. Frank Heermans, Hon. J. C. Mc- 1

Grew, Hon. Jas. H. Brown, Hon. Charles M.
Bishop, Gustavus Cressup, Dr. Maknown, J.
Barton Payne, Smith Crane, Wm. G. Brown,
Jr., and others are enlisted in the enterprise.
Articles of incorporation have been taken out by
a company. The routes from which to select
are to Tunnelton, on the Baltimore and Ohio,
ten miles, along the valley of Cheat River ; or
to Newburg, 15 miles, through a rich field of
coal ; or to Rowlesburg, 12 miles.

ORGANIZATION.

The directors of the Granite Railway Com-
pany, elected on the 16th inst., are : William
B. Sewall, John F. O.sgood, John W. Leighton,
George F. Williams, George Lewis. The of-
ficers are ; President, J. C. Pratt; vice presi-
dent, John D. Parker.

The directors of the Lehigh Valley Railroad
Company, elected on the 17th inst., are: Charles
Hartshorne, president, David Thomas, Ashbel
Welch, William L. Conyngham, Ario Pardee,
VViHiam A. Ingham, George B. Markle, Robert
H. Sayre, Harry E. Packer, James I. Blakslee,
Robert A. Packer, Elisha P. Wilbur and Joseph
Patterson.

The directors of the Buffalo, Pittsburg and
Western Railroad Co., elected on the 9th inst.,
are: J. W. Jones, president, Clarence H. Clark,
George F. Tyler, Edward A. Rollins, Archer N.
Martin, B. J. Jamison, Foster W. Mitchell,
Isaac N. Seligman, Harold M. Sill, Calvin H.
A.llen, Giles E. Taintor, Edward L. Owen.

The directors of the North Pennsylvania
Railroad Co., elected on the 9th inst., are :
Franklin A. Comly, president, John Jordan, jr.,
Wm. C. Ludwig, Edward C. Knight, Alfred
0. Knight, Alfred Hunt, Thomas Smith, Ario
Pardee, Jas. H. Stevenson, R. J. Dobbins, C.
A. Sparks, E. H. Fitler, Thos. P. Stotesbury
md Thomas Cochran. »

The directors ot the Portland and Ogdens-
burg Railroad Company, elected on the 17th
inst., are : Samuel J. ATidersou, president,
with the following directors : Horatio N. Jose,
Western F. Miliken, Joseph S. Richor, Joel
Eastman, James P. Botler, Rosell M. Richard-
son, Willard W. Thomas, Jr., Samuel Water-
house and Francis Fessenden.

At the annual meeting of the Norwich and
Worcester Railroad Company on the 11th inst.,
the following directors were elected : F. H.
Dewey, Geo. W. Gill, Charles W. Smith and
Edw. L. Davis, of Worcester; John. F. Slater,
of Norwich; Wm. Bayard Cutting, of New York,
and Wm. J. Weld, of Boston. F. H. Dewey
was re-elected president. 1

The following gentlemen were elected di-
rectors of the New York Elevated Railroad
Company, on the 10th inst., Cyrus W. F-eld,
George S. Scott, Davis Dows, J. H. Lane, Jay
Gould, Jesse Hoyt, Russell Sage, Daniel A.
Lindley, John H. Hall, Edward M. Field, Alfred
S. Barnes, James D. Smith and James A. Cow-
ing. ■-....' :-'■••/-:. ■'-■ . V. •"- -'i- ■;.

At the recent annual meeting of the Western
Railroad Association in Chicago, the following
board of directors was chosen : B. F. Ayer, B.
C. Cook, A. S. Osborn, i'. F. Withrow, T. J.
Potter, T. B. Blackstone, Chas. Paine, C. W.

■1 *

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AMERICAN RAILROAD JOURNAL.

Rogers, S. S. Merrill, T. Defuniak, S. R. Cal-
laway and John C. Brown. The officers are :
President, B. F. Ayer; secretary and treasurer,
J. H. Raymond; counsel, Geo. Payson..

At the annual meeting of the Now York and
New Haven Railroad Co., on the 11th inst., the
old board of directors was re-elected by a full
vote as follows: George H. Watrous, Edward
M. Reed, William D. Bishop, Wilson G. Hunt,
George N. Miller, Chester W. Chapin, A. R.
Van Nest, Henry C. Robinson, E. H. Trow-
bridge. Nathaniel Wheeler, C. M. Pond, Augus-
tus Schell and William H. Vanderbilt.

At the recent meeting of the stockholders of
the Philadelphia and Reading Railroad Com-
pany an election was held for president, secre-
tary, treasurer and six managers of said com-
pany, which resulted in the choice of the fol-
lowing gentlemen : for president, Franklin B.
Go wen ; for secretary, Albert Foster; for treas-
urer, Samuel Bradford ; for managers— J. B.
Lippincott, I. V. Williamson, Henry Lewis,
Eckley B. Coxe, Edward C. Knight; Joseph B.
Altemus.

At the annual meeting of the New York,
Pittsburg and Chicago Railroad Company, held
in Pittsburg on the 10th inst., the following
directors were elected : James S. Negley, Delos
E. Culver, Henry Day, Wm. A. Cole, Wm. B.
Scott, James R. McPherson, Charles Seidler,
James S. Robinson, L. Scott, D. M. Carroll, H.
E. Collins, W. N. Riddle and W. E. Schmertz.
The officers ar. : President, James S. Negley ;
vice president and chief engineer, Delos E.
Culer; treasurer, W. N. Riddle ; secretary, James
S. Negley.

The directors of the Philadelphia, Wilming-
ton and Baltimore Railroad Company, elected
on the 9th inst., are: Isaac Hinckley, S. M.
Felton, S. M. Shoemaker, Jacob Tome, Ch-rles
Warner, William Sellers, Christian Febiger,
George B. Roberts, A. J. Cassatt, John P. Green,
J. N. DuBarry, Wistar Morris, Edmund Smith,
Henry M. Phillips, Ben. F. Newcomer. The
officers are : President, Isaac Hinckley; vice
president, A. J. Cassatt ; secretary and treas-
urer, Robert Craven ; superintendent, H. F.
Kenney. ':■ .■ v'\. .;■::■•.■•;

At the annual meeting of the stockholders
of the U. S. Concave Spring Co. held at the of-
fice of the Company, Coal and Iron Exchange,
21 Cortlandt Street, on the llth of January,
1882, the following board of directors was
elected : Hon. W. T. Minor, William Davison,
Geo. R. Blanchard, John F. Scott, John F.
Moulton, Curran Dinsmore, E. M. Reed, Thom-
as P. Simpson, J. W. Krepps. At a subsequent
meeting of the bo rd of directors, the follow-
ing gentlemen were unanimously elected as of-
ficers of the company : Hon. W. T. Minor,
president, John F. Moulton vice president,
William Davison secretary, Charles W. Minor
treasurer.

CONSOLIDATION.

The articles of consolidation of the Louis-
ville, New Albany and St. Louis Railroad with
the Evansville, Ro6kfort and Eastern were filed
at Indianapolis, Ind., on the 14th inst. The
capital stock is fixed at $6,000,000, and, as has
already been announced, the new company

takes the name of the Louisville, Evansville
and St. Louis Railroad Company.

Aeticles of consolidation have been filed in
Wisconsin and Minnesota of the Chicago, Free-
port and St. Paul and the St. Paul, Minneapolis
and Chicago railways. The line extends from
a point on the South boundary line of the State,
in the town of Cadiz, Green County, to Minne-
apolis, and the new corporation is named the
Chicago, Freeport and St. Paul Railway Com-
pany, capital stock $40,000,000, and the general
offices for Wisconsin and Minnesota are re-
spectively at Dodgeville, loA^a County, and
Minneapolis. The stockholders of the consoli-
dated company are M. J. Briggs, Thomas Ken-
nedy, Aldro Jencks, Adam Eulberg, Wm. 0.
Wright, Peter J. Morris and Chas. J. Thomas.

INCORPORATION.

An amendment to the charter of the St.
Louis, Indianapolis and Eastern Railroad Co.,
has been filed with the Secretary of State of
Indiana. The mortgage indebtedness of this
company is increased to $20,000 per mile. Last
fall the mortgage was increased from $12,000
to $16,000 per mile, but the additional increase
to $20,000 is due to high prices for material
and labor.

Thb Oriental Construction Company, filed
articles of incorporation in Denver, Col., on
the 13th inst., with a capital stock of $10,000,-
000. The officers of the new company are G.
M. Dodge, president ; Amos. L. Hopkins, vice
president ; Frank W. Baldwin, secretary. The
company is said to be organized in the interest
of Jay Gould. Its object is to build railroads
in the United States and Mexico. The princi-
pal offices will be in Denver.

Articles of incorporation of the Terra Heaut
and Cincinnati Short Line have been filed with
the Secretary of State of Indiana. The capital
stock is $1,500,000, and the directors are Chas.
C. P. Holden, Chicago ; George S. Bowen,
Elgin, 111.; Joseph M. Davis, Chicago; Milton
Holden, Chicago ; William V. Key, Waukegan,
ni. ; Joseph S. Reynolds, Chicago ; James C.
Hyde, Chicago ; Edgar Terhune, Chicago. The
road will run from Lawrenceburg, Dearborn
County, through the counties of Dearborn,
Franklin, Decatur, Jennings, Bartholomew,
Brown, Monroe, Greene, Owen, Clay, Vigo and
Sullivan, the proposed length being 150 miles.

Articles of association have been filed in
the office of the Secretary of State of Arkansas
of the Kansas City, Arkansas and Gulf Air-Line
Railway. The amount of the capital stock is
placed at $6,000,000. The directors are Rich-
mond Hibbard, John McClure, J. G. Botsford,
P. K. Roats and William H. Monaghan. Bryoks
of subscription to the capital stock have been
opened. The length of the main line of the
road will be 220 miles. It will begin at a point
in Little River County, and run across the
Western portion of the State.

Articles of association of the Salem and
Little Rock Railroad Company have been filed
with the Secretary of State of Missouri. Capi-
tal, $1,600,000. The road is to extend from a
poirt on the St. Louis, Salem and Little Rock
Railroad at or near the town of Salem, in Dent

county, thence in a Southwesterly direction to
a point in either Ozark or Howell county (as
may be found most practicable) on the bound-
ary line between the States of Missouri and
Arkansas. The length of the road will be
about 80 miles and will run through the coun-
ties of Dent and Texas, and also through Doug-
las and Ozark or through the counties of Shan-
non and Howell as may hereafter be determined
to be most practicable and advantageous. The
incorporators are A. L. Crawford, New Castle,
Fa. ; W. L. Scott and Joseph McCuiter, of Erie,
Pa. ; Emerson H. Foote and H. A. Crawford, of
St. Louis.

i^^

T}he Coal Trade.

V...

The leading coal carrying companies make

the following reports of their tonnage for the

week ending Janvary 7, and for the year to

same date, compared with their respective

amounts carried to the same time last year:

Week. 1882. 1881.

Reading Railroad 100,666 801.008 014,613

Schuylkill Caual 27,655

Lehigh VaUey 86.009 658,782 450,541

Delaware, Lackawanna and

Western 70,500 70,500 51,2.55

Shamokin 10.178 10,178 13,165

Central R. R. of New Jersey.. 40,121 40,121 46.045

United R. R. ot New Jersey.. 27,5;J2 27 532 22.086

.jennsylvauia Coal 19,836 19,836 14,844

Delaware and Hudson Canal. . 49,330 49,330 39,934
Huntingdon and Broad Top

Mountain 10.856 10.856 11.169

Peon, and New York 23,044 157,942 117,599

Clearfield, Pa 39,085 39,085 32.398

The total tonnage of anthracite coal from all
the regions for the we 3k ending Jan. 7,
amounted to 375,097 tons, against 318,577 tons
in the corresponding week last year, an increase
of 56,500 tons. This is the opening week of
the new year. The quantity of bituminous
coal sent to market for the week amounted to
68,818 tons, against 71,523 tons, in the corre-
sponding week of last year, a decrease of 2,705
tons. The total tonnage of all kinds of coal for
the week is 443,895 tons, against 390,100 tons
in corresponding week last year, an increase of
53,795 tons. The quantity of coal and coke
carried over the Pennsylvania Railroad for the
week ending January 7th was 184,818 tons, of
which 129,103 tons were coal and 55,717 tons
coke. The total tonnage for the year thus far
has been 184,818 tons, .of wliich 129,103 tons
were coal and 55,717 tons coke. These figures
embrace all the coal and cok^ carried over the
road east and west. The shipments of bitu-
minous coal from the mines of the Cumberland
coal region during the week ended January
7 were 27,361 tons, and for the year to that date
27,361 tons, a decrease o-f 5,358 tons. The ship-
ments to Baltimore and Ohio Railroad ^ere,
for the week, 20,360 tons ; for the year, 20,360
tons; a decrease of 8,179 tons - compared with
1881. The shipments to the Pennsj'lvania Rail-
road were; for the week, 7,001 tons; for the
year, 7,001 tons; an increase of 3,82Stonsas
compared with 1881. The Reading Railroad
shipment for last week, ending January 14th,
was 157,800 tons, of which 36,500 tons were
sent to and 21.000 tons shipped from Port
Richmond, and 17,600 tons sent to and 21,400
tons shipped from Elizabethport. — Phil. Led-
ger^ Jan. 16.

".'-'"]/'■ ^

The interest on the general mortgage bonds
of the Philadelphia and Reading R. R. Co. due
in July, 1881, will be paid on February 10th.

1 -»■

.-to.- !--»...*■. *.i

. f-^t^^afiu^^

..VC, JJ.W'i'^JPf.J!" W ii">J8»i!'i»5Wl!'

."?^^!^'f*-l'?~v^i*'^''>^.'vET- "■ • ~ '

v..> f'' ..'

AMERICAN RAILROAD JOURNAL.

'^'rt.^y^

Ne\v York Stock Exchange.

, . (Thursday's quotations follow money article.)
Closing Prices Jor the week ending Jan. 18.

Th.l2. F.13.8at. U.M. 16. Tu.l7. W.18.

Adams Express 146 >^ 119 149 148X 1*8 >i

Albany and Susq.. 130

Ist mortgage 124%

2d mortgage 108

American Express.. 93?^ 92>^ 9334 93% 94>^ 93%

Atlantic k Pac. Tel

Burl., C. B. &Nor.,
1st mortgage Ss..

Canada Southern . .
1st mortgage guar

Central of N. Jersey

l8t mort. 1890

7s, consol. ass 116 114 ?ii 115 116

7s, convertible ass 115

78. Income 102 103 103 '-^ 103 '4 103 ...

Adjustment 108 108 108Ji 108

Central Pacific 93»( 94 3i 91 s^ 91 91 J^

g-1 3/

100}^ ibb'}i iw]i ..... i66>i

55Ji 65>i 55*^ 553^ 55>^

96 >i. 96 »i 96 >i 96% 96)^

92 93% 95 >^ 94% 94%

55 >^
96%

94%

133% 134% 135
102%

134% 134% 134%
102% ... 102%

108%
91

gold.

113% 113% 114 115 115

25'

134% 134% 135

68.

1st M. (San Joaq)

1st M. (Cal. k Or.) 103% ..... 104

Land grant 6r

Chesapeake & Ohio. 25% 25 25^
Is, series B 81,^^ 81%

Chicago and Alton. 132% 133% 133

Preferred

Ist mortgage

Sinking Fund 112

Chi., Bur. & Quincy 136 137 137 137 136% 136%
7s, Consol. 1903.. 126% 127 126% 126*^

Chi., Mil. & St. Paul 108% 109% 109% 109 '4 109% 108%

Preferred 121 121% 121% 122% 122%

Ist mortgage, 8s

2d mort., 7 3-108

78, gold

l8t M. (La. C. div) 121 118%

IstM. L &M.div.)

Ist.M. (L & D. ext.) 118% ... 119

IstM. (H.&D.div.) 114

lBtM.(C.&M.div.)

ConsoUdated S. F. 119 .>... 119% 120 121% 121%

Chi. & Northwestern 126 J4 127 127% 127 *,' 127% 127

Preferred 139 140% 140 140 141 141

let mortgage

Sinking Fund 6s. 110% 110%

Consolidated 7s 132 132% 132%

Consol. Gold bo'ds 1-23% 124 124

Do. reg

Chi., R. Isl. & Pac. 133% 134% 134% 134% 134

6a. 1917, c 124 125 125

Clev.,Col.,Cin.&Ind. 82 83 84 83 82% 83
1st mortgage

Clev. & Pittsburg gr 137

78, Consolidated

4th mortgage .■

Col.,Chi.,&Ind.Cent. 21% 21% 21% 21% 21% 21%

1st mortgage 125

2d mortgage

Del. k Hud Canal. 106% 107% 107% 107% 107% 107%

Reg. 7s, 1891

Reg. 78, 1884 104 103% 104 103%

78, 1894 116% ...

Del.,Xack.& Western 124% 125% 125>^ 124% 125% 125

2d mortgage 78

7s, Consol. 1907

Erie Railway

Ist mortgage

2d mort. 5s, ext

3d mortgage 106%

4th mort. 58, ext

5th mortgage

7b, Consol. gold.. 129% 129% 130 130

Great West. 1st mort 109 109% 105%

2d mortgage 104%

Hannibal & St. Jo.. 96 96>4 95% 96% 96J^ 96%

Preferred 109% 109% 109% 110 109% 109%

88, Convertible 108 109 109

Houston k Tex. Can 86

1st mortgage

2d mortgage 142%

Illinois Central... 132%' 133

LakeShore&MichSo 114% 115

Consol. 78 130

Consol. 7s, reg 128

2d Consolidated ^.126

Leh. & W. B. 78; Con

Long Dock bonds . . 120

Louisville k Nash. 98 99 99%x 97 ^^ 97% 97

78, Consolidated 122%

Manhattan 49 60% 51 50 50%

M«t. Elevated 88

1st mortgage 100% 100% 101 101 101% 101%

Michigan Central. . 88% 88% 89% 88% 89 89

78, 1902 124 123

Jf . S. & N. L Ist, 8. F

Morns k Essex.... 121 122 123% 122%

Ist mortgage 138

2d mortgage

7« of 1871 125 126

78, Convertible .

78, Conso' ^.^ated 124%

N.Y.Cen. fcHud.R.
6s,8. F. 1883..,.
6s, S. F., 1887....

1st mortgage 133 ....

let mortgage, reg. 133

N.Y. Elevated 106

1st mortgage... .116 116%

N. Y. & Harlem

Preferred

Ist mortgage -.

Ist mortgage, reg

N. Y., Lake Erie &W 41 '4' 42% 12% 42% 42% 41%

Preferred 82% 84?^ 84 83% 83

2d Consolidated.. 99% 99% 100 99% 99% 99%

New 2d 58 fund 96%

N.Y..N.Hav'n&Hart 170 171

North. Mo. Ist mort 120)4' 120%

Northern Pacific... '35% 37 36%
Prelerred 74 % 76% 76%

Ohio* Mississippi. -37% 37% 37%

Pretmrre'l

2d mortgage

Consolidated 7s

Consol. S. Fund 117

Pacific Mail S. S. Co 41% 42%- 42% 41% 41% 41%

Pacific R. R. of Mo

1st mortgage 108% 108% 109 109

2d mortgage 112 Ji Ill

Panama

62%

65
117%

117%

62%

62
117%

N.Y. & New England
7s

Northern N.H 104 106

Norwich* Worcester 156

Ogden k Lake Cham ,

Preferred ,

126

126
62

36%
75%

121

36 36 V4'

75% 75%

36% 37

62% 61%

Phila. & Reading.. 64% S4%
Pitts.Ft.W.&Chi.gtd 134

Ist mortgage

2d mortgage 132%

3d mortgage

60%
135

59%

133%

61 Ji
40 U
58%

Pullman Palace Car

Quicksil'r Min'g Co
Preferred

St. Louis & San Fran

Preferred

Ist Preferred 105

St. L., Alt'n & T. H. ...

Preferred

1st mortgage

2d mort. prof

Income bonds

St. L., IronMt. &S ....

133

14
61%
41
58%
105%

134%

14%
62
42
69%
106

43
91

135

61 '4

137% 143%
61% "61%

Old Colony 126% 125

Ph.,Wil.&Balt.($50) 62

Portl'd.Saco & Ports

Pueblo & Ark Val

78 116% 116% 116% 116% 117

Pullman Palace Car 133% 133 134% 134 136>^ 140

Union Pacific 118'^ 119% 119% 119 118%

6s 114% 114% 114%

Land Grant 78

Sinking Fund 88. 120% 120%

Vermont k Canada

Vermont* Mass 143%

Worcester & Nashua 58% 58 58% ...

Cambridge (Horse)

Metropolitan (Horse)

Middlesex (Horse)

Cal.&HeclaMin'gCo 250 250 250 245

Quincy 55% 56 56 55% 55% 55

120%

106

43%

91 «4

59%
106%

*2%

110% 111%

133%
115%'

134% 134% 1363s
114% 115 114%

l8t mortgage 118 117%

2d mortgage

Toledo and Wabash

1st mortgage

2d mortgage 103

7s, Consolidated.. 106 105

St. Louis Division 118

Union Pacific 117% 119 119

1st mortgage 114% 115%

Land Grant 7s

Sinking Fund 88 123% 124

United States Ex 77

Wabash, St. L.& Pac 36% 37% 37%

Preferred. 68% 70% 70%

New mort. 78

Wells-Fargo Ex 130

Western Pacific b'ds

Western Union Tel. 78% 79% 81%
78,S.F.conv.,1900

Fedebal Stocks :—

U. S. 48, 1907, reg. . . 118

U. 8. 48, 1907, coup. 118 118%

U. S. 41.^8, 1891, reg. 114%

U.S.4%s, 1891, coup 114% .

U. S. 58, 1881, reg

U. 8. 58, cont'd at3% 102%
U. S. 68 cont'd at3% 100%

Dt. of Col. 3-65s, reg

Dt. of Col.3-65s,coup

117%
109

105% 104%

Philadelphia Stock Exchange.

Closing Prices for the Week Ending Jan. 17.

W.ll. Th.l2. F.13.Sat.l4.M.16.T».17

Allegh'y Val. 7 3-108 120 .... 120

78, Income 56 56% 57 58

Camd'n & Am. 68, '83

6s, 1889

Mort. 68,1889.... 113% 113% 113% 113%

Camden * Atlantic

Preferred 33

Ist mortgage

2dm.ortgage

Catawiasa 18

Preferred

7s, new

Del. & Bound Brook

Elmlra&WiUiamsp't

Preferred

29%

28%

119'^
115%

119
115%

119%

115%

37%
70

124

37%
70

69%

130

109%
81%

130%

81% 81%

118'

102%

Boston Stock Exchange.

Prices for the Week Ending Jan. 18.

Th.l2. F. 13. Sat.l4.M.16.Tu.l7. W.18
Atch.,Top.&San.Fe. 95% 95% 96 95% 95% 96%

Ist mortgage 119 119% 120

2d mortgage

Land Grant 7s 116% . .....

Boston & Albany... 163% 164 165 165% 165% 166
78 reg 126%

Boston and Lowell 103 105 104 105

Boston* Maine 145 144 ,% 145 144% 147

Boston* Providence 162

Bo8'n,Hart.* Erie7s 67% 68% 68 67% 67%

Burl.* Mo.R.L.G.78

Burl.* Mo, R. in Neb

68, exempt 115

4s ;;;;;

Chi. , Burl. &jQuincy 135% 136ii( 137% 137% 136% 136%
78

Hunt. * B. Top Mt. 14 15 14%

eferred 28

jage

Lehigh Navigation. 43% 43% 43% 43% 43%

6s, 1884 105%

Gold Loan Ill Ill

Railroad Loan

Conv. Gold Loan 113 Ill

Consol. Mort, 7s. 116% 117 116% 116%

Lehigh Valley 61% 62% 62% 62% 62% 62%

Ist mort. 68, coup , 121

1st mort. 6s, reg

2d mort. 78 134%

Consol mort. 6s 117% 117 117%

Consol.mtg.6s,reg ... . 117 117

Little Schuylkill 55%

Minehill&Sch.Hav'n 60 60

North Pennsylvania 60 60 60 60 60

1st mortgage 68 105%

2d mortgage 7s

Genl. mtg.78,coup

Genl. mtg. 7s, reg

35%

74%

50 ^i
97

35%

74%

61%

50
97

36%

74%
62%

50%
97

36%

76%

62%

36%
75%
62

15%
61%

Cin..Sand&Clev($50) 27% 28 28% 28% ...

Concord ($50)...

Connecticut River

Eastern

New 4% Bonds... 107
Fitchburg ,

105%

37
106

37 36%

10«% x06% 107%

Northern Central..
58

Northern Pacific . . .
Preferred

Pennsylvania R. R. ...

1st mortgage

cien'l mort 123

Gen'l mort reg

Consol. mort. 6s. 117

Consol. mort. reg "

Pa.State 68 2d series

do 3d series 100 '

do 5s, new 116

do 3s [\

Phila. & Reading... 33 32% 32% 31% 30. 30%

Ist mortgage 6s ng

78 of 1893

7s, new convert . . 73 73 72% 73

Consol. mort. 7s 125 125 . . . .

Consol. mort. reg *

Gen'l mort. 6s 98 98% 98;^ 98 97%

Philadelphia & Erie 20 20

Ist mortgage 5s.. 104% 104% '.*

2d mortgage 78 114

Pitt8b.,Cin.&St.L.78 122

Pitt8..Titusv.&BufiF. 20% 20% 21 21 20% 20%
78 101% 102%

Schuylkill Navi't'n .;

Preferred '

68,1872

68.1882 89 .... 89 89 '.'.'.'.'.

United Co. of N. J.. 183 183 183 184%

Hestonville, (Horse)

Chestnut* Wal.(do)

rire«n *CMvte8(do)

184

[

AMERICAN RAILROAD JOURNAL.

Baltimore Stock Exchange.

Closing Prices fw tht Week Ending Jan. 10.

W. 11. Th.l2.F.13. Sat.l4.M.16.Tu.l7

Baltimore & Ohio.. 195

6s,1880

68,1885 105Ji

Central Ohio ($60)

Ist mortgage

Marietta & Cincin'ti

Ist mortgage, 78

2d mortgage. 78.. 105 105^ 105% 105 >^

3d mortgage, 88.. 59 59?i 59 >i 60 59>i

Northern Cen. ($50) 50^ 50^

2dmort., 6sl885.. 106 ...

3d mort., 6s, 1900

68,1900, gold 113>,' 11-6^4

68,1904, gold 113,'i 111>^

Orange & Alex. Ist ;

2d mortgage, 68

3d mortgage, 88

4th mortgage, 88

O-.Alex.&Manas's 78

Pitt8.& Connell8v.78 121

Virginia 68, Consol. 63?^ 65 64>i 64>^ 03^

Consol. coupons. . 6S 70 ..70 70^

10-40 bonds 39 39^

Defd Certificates. 17

Western Maryland 14

l8tM.,end.byBalt

2dM., do

3dM., do

IstM-.unendors'd

2dM:,,end.WashCo ,,
2d M., preferred. . . .

105

City Passenger B B 41

London Stock Exchange.

Baltimore k Ohio (sterling) 114

Cairo & Viencennes com. stock 36
Do. preferred 5 per cent 90

Central of N. J. $100 share 93

Do. Cons. Mortgage 115

Do. Adjustment Bonds 104

Do. Income Bonds 104

Det.,G'd Haven & Mil. Equip bd8ll2
Do.Con.M..5p.c.,till'83aft'r6p.cllO

Illinois Central $100 shares 134,'^

Lehigh Valley Cons, mortgage.. 115

Louisville & Nashville mort 68.105
Do. Sink. Fund bds (S.&N.Ala)103
Do. capital stock $100 shares. 105

N. Y. Cent. & Hud. B. mt. bds. .134

Do. $100 shares 135

Do mort. bonds (stg.) 123

N.Y..Lake Erie & West., $100 shs 42 >i
Do. 6 p. c. pref. $100 shares . . 87
Do. Ist Con. Mort. bds (Erie) .131
Do. do. Funded Coupon bds
Do. 2d Consol Mort. bonds. .
Do. do. Funded Coupon bds.
Do. Gold Income bonds 95

N.Y.,Pa.& Ohio 1st mort. bonds. 50
Do. Prior Lien bds (sterling).. 104

Pennsylvania, $50 shares 63

Do. Con. Sink Fund Mort. . . .119

Philadelphia k Beading $50 shs 35

General Consol Mortgage 116

Do. Improvement Mortgage. .103
Do.Gen.Mtg.'74,ex-d(ird coup. '.>9 !-.
Do. Scrip for the 6 def. 1^ coup. 95

Pittsb. , Ft. W. & Chi. Eq. bds. ... 105

St. L. Bridge Ist mort. gold b'd.l26
Do. Ist pref. stock 102

Union Pa. Land Grant 1st. mtg.115

Closing

Dec. 30.
116

98
117
109
107
114
112
135 >i
119
107
105
107
137
136
125

89
13?
129
104
lOO
100

51
108

64
121

36
118
105
100 >^
100
109
128
104
119

Prices

Dec. 23.
114 116

36
90
93
115
104
104
112

40
92
98
117
109
107
114
112

132 }i 133 >^
115 119

105
103
102
134

107
105
104
137

136,'^ 137^
123 125
42J< 43%
91 93

.127
.102
. 97

130

127

101

132
129
103
100
100

45 >^ 46 >^
105 110

62% 63 »i
118 122

33 V^ 34^2
116 118

103
99
95
105
126
102
115

105
lOf
100
109
128
104
119

AMERICAN RALLROAD JOURNAL.

Financial and Commercial Review.

Thursday Evening, Jan. 19, 1882.

The quotation for call loans during the day
on stocks was 4@5 per cent, and on Govern-
ments 2@3 per cent. In the last hour the rate
to the stockbrokers for call loans fell to 3 per
cent.

(The Illinois Central Railroad Company has
declared its regular semi-annual dividend of 3^

per cent, payable March 1. The company's
annual report is not yet completed, but we are
informed that it will show that the net earnings
for 1881 not only provided for interest on the
debt and 7 per cent on the capital stock, but
also for about $950,000 betterments, including
a large elevator of Cairo, additional equipments
and real estate and docks at Chicago. *

The Legislature of Arizona last j'ear author-
ized the publication of a book that should give
authentic information concerning the resources,
the history and the future prospects of that
Territory. Mr. Patrick Hamilton was appoint-
ed as a Commissioner for that work, and under
his authorship a valuable pamphlet full of in-
formation desired by investors and settlers has
been produced. We give elsewhere an extract
from theis publication on the Railroads of Ari-
zona.

The report of the President of the Buffalo,
Pittsburg and Western Railroad Co., which was
presented at the annual meeting of the stockhold
ers held in Philadelphia on the 9th inst., after
explaining the impossibility of preparing an
accurate financial statement in the first week of
the new year, says the gross receipts upon the
same mileage as in 1880 were about $23,000
greater than in 1881; that for the previous year
the net earnings for the first three months of
the 5'ear were less than for the same period in
1880, owing to the increased expenses conse-
quent upon the unusually severe Winter, but
the net earnings for the last nine months were
in excess of those for the last half of 1880, and
were more than sufficient to meet the interest
on the bonded debt for that time. The pas-
senger traffic was laiger than for the previous
year, and would hsCve been still greater were it
not for a lack of equipment. The line to Buf-
falo and Salamanca will be finished early in the
Spring. In April the Newcastle and Franklin
was bought in for $850,000, and reorganized as
the Newcastle and Oil City Railroad, with a
capital of $150,000 common and $450,000 pre-
ferred stock, and $600,000 first mortgage bonds,
all of which the company holds in its treasury.
The expenditures for improvements thus far
have been $50,000. The mines alreadj' opened
on the branch near Jackson Centre are pro-
ducing bituminous coal of a superior quality
at the rate of 200,000 tons a year, with a'capac-
ity of three times as much. The Buffalo and
Baltimore is a new company formed in the in-
terest of this road to build a line from Newcas-
tle to Chicago Junction, under joint traffic
guarantees from this road and the Baltimore
and Ohio. The Newcastle and Oil City Rail-
road is be extended to Oil City, and it is pro-
posed to offer to the stockholders of this com-
pany the right to subscribe upon favorable
terms for the securities necessary for its con-
struction; the reorganized road will ultimately
be merged into the parent company. Con-
tracts have been signed with the New York,
West Shore and Buffalo, and the Buffalo, New
York and Philadelphia Railroad Companies for
extensive terminal facilities at Buffalo, and for
a line from Chicago Junction by way of Oil
City to Buffalo.

The issue of District of Columbia 3.65s is
limited by law to $15,000,000. The amount is-
sued to date is $14,468,350. The stocks and

bonds now outstanding on which interest has
ceased, and for the payment of the principal
and interest of which there are funds deposited
in the United States Treasury amount to $5,-
500.68.

The Grovemor of Connecticut, in his second
annual Message, delivered on the 4th inst., -;ays
that the State receipts last year were $1,722,160
01 the expenses $1,509,855.28, and the balance,
$212,304.74. Of the State debt $877,000 comes
due at the end of the current year and he ad-
vises paying it from funds in the Treasury.

The report of the Railroad Commissioners
of Iowa for the year ending June 30, 1881,
states that the capital stock representing the
railroads of that State is $103,905,021, or $19,-
149 per mile. The debt of all these lines is
$110,766,483, or $20,413 per mile. Both stock
and debt is $214,671,504, or $39,563 per mile.
The reported cost of these roads is $173,998,-
790, or $40,672,814 less than the reported stock
and debt. The entire ejimings for the yea*
were: from passengers, mail and express, $6,-
757,877.43 ; from freight and miscelLineous,
$21,694,304.48-total, $28,452,181.91, against
$24,837,545.35 for the previous yoar, an increase
of $3,614,636.56. The operating expenses dur-
ing the year ending June 30, 1881, were $16,-
788,404.39, against $13,982,653.77 during the
previous year, an increase of $2,805 750.62. The
net earnings for the year ending June 30, 1881,
were $11,663,777.52, against SIO. 854, 801. 58, for
the previous year, an increase of $808,885.04.
The gross earnings per mile of road were $5,-
396.46, the expenses $3, 246. 85 and the net earn-
ings $2,149.61. Eleven roads show an excess
after deducting operating expenses, rentals,
interest and taxes, of $6,879,209.40, while seven
roads show a deficit of $205,046.47 leaving the
net income $6,674,162.93, which would give an
average of net earnings for stockholders per
mile for all roads in the State, $1,230.93. There
are 2,190 miles of steel rail and 3,275 miles of
iron in Iowa. On the 30th of June last there
were 5,426 miles of road in operation in that
State and over 900 miles partially constructed,
which will certainly be completed in another
season, when the total will foot up over 6,300
miles. Total freight moved for the year over
9,000,000 tons.

From the report of the St. Louis, Vandalia
and Terre Haute Railroad Company, which was
presented at the annual meeting of the direct-
ors held on the 10th inst., we learn that the
gross earnings for the year ending October 31,
1881, were $1,565,515.04, of which the compa-
ny received 30 per cent as rentil from the les-
see, amounting to $469,654.50 ; to which add
bundry amounts of interest received, $169.90 —
making the total income $469,824.50 ; from
which was paid $34,111.43 for taxes and gen-
eral expenses, and $314,930 for interest on first
and second mortgage bonds, leaving a surplus
for the year of $120,782.97. This surplus was
applied to the payment of $10,003,28 on account
of suspended taxes, and $110,779.69 toward the
liquidation in part of the previous balance to
the debit of profit and loss. The loss to the
lessee in operating the road was $281,081.15,
of which $103,223.09 was on account of addi-
tions and permanent improvements to the road.
According to the annual report of the Com-

;iias'-*ii^..',> -*,,

I. iwr^S^"'.

AMERICAN RAILROAD JOURNAL.

missioners of Railroads, the total number of
miles of track in the State of Massachusetts is
3,148 an increase of 103 miles over last year.
The aggregate capital stock is $122,155,614, an
increase of $3,416,742 ; net debt of all compa-
nies, $64,850,890, an increase of $5,678,370 ;
gross income, $37,764,395, an increase of $2,-
624,021; net income, $10,701,751, a decrease of
$490,000 ; freight earnings, five per cent more
than last year; passenger earnings;, eight per
cent increase. 1 r

The approximate earnings of the Flint and
Pere Marquette Railway for the year 1881 were
$1,858,256.65, again.st $1,596,950 for the year
1880, an increase of $261,306.65. There were
hauled during 1881 on this road 105,296,530
feet of pine logs against 87,475,516 feet for 1880.
The construction expenses of the road from
Oct. 1, 1880, to Nov. 30, 1881, were $1,239,480 ;
11 locomotives, 5 sleepers, 13 passenger cars, 3
drawing-room cars and 600 freight cars have
been added to the equipment. Over 60 miles
of steel rails have been laid, and over 30 miles
of new line constructed, including the Otter
Lake Extension, 6 miles, and the Manistee
Branch, 26 miles. Considerably over $100,000
was expended during the year for improve-
ments at East Saginaw, including a new ma-
chine shop and passenger depot. Two new
propellers, to cost $60,000 are to be delivered
to the company the present year, to run be-
tween Ludington and Milwaukee.

The earnings of the Delaware Railroad for
the year ending October 31, 1881, were $428,-
747.24, of which $260,588.79 was from freights
—decrease of $9,059.19, and $157,560.62 from
passengers— an increase of $11,201.85; $300,123;
07 operating expenses, or 70 per cent of earn-
ings, as by agreement with the lessee company
(the Philadelphia, Wilmington and Baltimore);
interest and dividends paid by lessee, $729,480
06. The decrease in earnings from freight was
due entirely to the failure of the peach crop.

We give elsewhere the 107th call of the Sec-
retary of the Treasury for the redemption of
bonds. It is for twenty millions of extended
sixes, and the principal and accrued interest
will be paid on the 13th of March, the interest
ceasing on that day. |, |

The closing quotations on Thursday were :
Adams Express, 147@149; American Express,
93J@94 ; Chicago, Burlington and Quincy, 137
@137J; Canada Southern, 55@55^; Chicago and
Northwestern, 127j@127|; do. pref,, 139J@140;
Chicago and Alton, 13^@13^ ; Central of New
Jersey, 96@96^; Central Pacific, 90|@90i; Chi-
cago, Milwaukee and St. Paul, 108|@109 ; do.
pref., 122@122|; Cleveland, Columbus, Cincin-
nati and Indianapolis, 81^@83; Columbus, Chi-
cago and Indiana Central, 20|@20|; Delaware
and Hudson Canal, 107|@,107|; Delaware, Lack-
awanna and Western, 125@125^ ; Hannibal
and St. Joseph, 95|@96J; do. pref., 108|@109;
Illinois Central, 135|@135J ; Lake Erie and
Western, 35@36J ; Lake Shore and Michigan
Southern, 114|@llo ; Metropolitan Elevated,
87i@89 ; Manhattan Elevated, 50@51 ; Mich-
igan Central, 88t@88J ; New York Elevated,
106@107 ; New York, Lake Erie and Western,
41|@42 ; New York Central and Hudson
River, J34f@134|; Northern Pacific, 36@36^;
do. pref., 74|Q^75; Ohio and Mississippi, 36|@

@36J ; Panama, 195@198 ; Pacific Mail, 4H@
41 1 Texas and Pacific, 50|@50^ ; Union Pacific.
119^@119| ; United States Express, 77@78 ;
Western Union Telegraph, 82@82J ; Wabash,
St. Louis and Pacific, 36^@36| ; do. pref., 69^
@69| ; Wells-Fargo Express, 1 29@ 130.

The following quotations of sales of Railway
and other securities, for the week, are in addi-
tion to those given elsewhere in our columns:

New York. — Atchison, Colorado and Pacific
Ist, 98 ; Atlantic and Pacific 1st, 98 ; Boston
and New York Air Line pref., 62; Buffalo and
Erie 7s, new, 122 ; Cairo and Fulton 1st, 111 ;
Chicago, Milwaukee and St. P:\ul, S. M. div.
Ist, 104J ; do. La C. and'Dav. div. 1st, 95 ;
Chicago, St. Paul, Minneapolis and Omaha,
36 ; do. pref., 101 J^ ; do. consol., 100 , Central
Iowa, 35 ; do. 1st, 115J ;Cedar Falls and Min-
nesota, 20 ; do. 1st, 112; Chicago, St. Louis and
New Orleans, 81 ; Chesapeake and Ohio 1st
pref., 37|; do. 2d prel.. 26!^ ; do. 1st Series B,
82| ; do. cur. int., 53 ; Chicago, St. Paul and
Minneapolis 1st, 112 : Chicago and Milwaukee
1st, 122 ; Chicago, Burlington and Quincy 8s,
108 ; Columbus, Chicago and Indiana Central
Income, 74; do. Ist, Trust Co. certif. ass. sup.,
120; Chicago and Alton Inc., 103; Denver and
Rio Grande, 73 ; do. 1st, 114 ; do. 1st consol.,
105i ; Denver, South Park and Pacific 1st, 103|:
Detroit, Monroe and Toledo 1st, 125 1 ; East
Tennessee, Virginia and Georgia, 15} ; do.
pref., 26; do. 1st, 114; do. inc., 58 ; do. 5s, 79|:
Evansville and Terre Haute 1st, 98, Green Bay,
Winona and St. Peter, 15J ; Georgia R. R. and
Bank, 165; Galveston, Harrisbui^ and San An
tonio Isf, 106 ; Gulf, Colorado and Santa Fe
1st, 107; Hudson River 2d S. F., 110 ; Indiana,
Bloomington and Western, 47|^ ; do. 1st, 91 ;
Indianapolis, Decatur and Springfield, 42 ; do.
1st, 105; Joliet and Chicago, 140; International
and Gt. Northern 1st, 107 J ; do. 2d inc. ass.,
90; Kansas Pacificist consol., 103|; do. Denver
div. 6s, ass., 108 J ; Lake Erie and Western,
36 J ; Long Island, 51^; Lafayette, Bloomington
and Mxincie 1st, 103 ; Louisville, New Albany
and Chicago, 74; do. 1st, 101 ; Louisville and
Nashville geni mort. 68, 102; Lake Shore divi-
dend bonds, 124; Lehigh and Wilkesbarre con-
sol. ass., 108} ; Louisiana and Missouri River
1st, 119 ; Minneapolis and St. Louis, 20 ; do.
pref., 60}; do. 1st, 115; do. 1st, Iowa Ext., 110} ;
Missouri,. Kansas and Texas, 38 ; do. consol.
7s, 107^; do. gen '1 mort. 6s, 83}; Missouri Pa-
cific, 102| ; do. 1st consol. ; 104 ; Memphis and
Charleston, 81 ; Milwaukee, Lake Shore and
Western, 51; Mobile and Ohio, 34 ; do. 1st
deben., 96;'Marietta and Cincinnati 1st pref.,
15 ; do. 2d pref., 9; Manhattan Beach, 27| ;
Metropolitan Elevated 2d, 89J ; New York, On-
tario and Western, 27^; Norfolk and Western,
20; do. pref., 57 J ; do, Gen'l mort., 103 ; Nash-
ville, Chattanooga and St. 'Louis, 86; do, 1st,
115} ; New Orleans Pacific 1st, 90 ; Northern
Pacific 1st, 99; Ohio Central, 25 ; do, inc., 48;
do. Ist, 97} ; Oregon Railway and Nav., 137^ ;
do. 1st, 106; Ohio Southern, 23^; do, inc., 45J;
do, 1st, 92 ; Peoria, Decatur and EvansviUe,
36|; Rensselaer and Saratoga, 140; do, Ist, 133;
Rochester and Pittsburg. 28 J ; do. inc., 40 ;
Rome, Watertown and Ogdensburg, 21 i ; do.
1st consol,, 91 ; Richmond and Allegany, 36 ;
do. l^t, 98i ; Richmond and Danville, 197};

■;.. »

do. 1st, 102|; Syracuse, Binghamton and New
York 1st, 123; St. Paul and Sioux City 1st, 110;
St, Louis, Jacksonville and Chicago 1st, 119 ;
St, Paul Minneapolis and Manitoba, 115 ; do,
1st, 109^; do, 2d, 106; St, Paul and Duluth, 30;
do, pref,, 70; St. Louis, Kansas City and North-
em, Omaha div. 1st, 113^ ; St, Louis afid Iron
Mountain 5s, 84 J ; do, Arkansas Branch 1st,
110; St, Louis and San Francisco 2d, Class B,
92; do, C, 90^ ; South Pacific of Missouri 1st,
103J ; Southern Pacific of California Ist, 104J;
Scioto Valley 1st, 97 J ; Toledo Delphos and
Burlington, 16; Texas and Pacific, 50} ; do, inc.
L. G,, 74}; do, 1st, 107 ; do, Ric Grande div.
1st, 90 ;Texas Central 1st, 106 J ; Toledo, Peoria
and Western 1st, 110 ; Wabash, St, Louis and
Pacific, Gen'l mort. 6s, 88^ ; do, Chicago div.
1st, 84 J ; do, Havana div., 96 ; Alabama, Class
C, 81 1 ; Georgia 78, gold, 118A ; Lotiisiana 7s,
consol, 67} : Missouri 6s, 1888, 108J ; do, 68,
1887, 107J ; do, 6s, 1886, 106i ; North Carolina

6s, S, T., 3d class, 7f ; do, consol. 4s, 84; South
Carolina 6.s, non-fund., 10}; Tennessee 6s, old,
76; do. new. 75.]; Sutro Tunnel, 1; Con.sol. Coal,
34^ ; Colorado Coal and Iron. 44 ; do. 6s, 90 ;
New Central Coal, 20; Pennsylvania Coal, 240;
Caribou, 2^ ; Homestake, 15^; Little Pittsburg,
1|; La Platta, 9}; Ontario, 34^ ; Robinson, 2f ;
Standard, 16.

Philadelphia.— AmencRu Steamship Co. 6s,
106J ; Central Transportation, 35 ; Erie and
Western Transp, Co.,55; Huntingdon and Broad
Top Mt. consol. 5s, 89 ; Nesqueh. ning Valley,
57 J ; New Orleans Pacific 6s, 91}; Oil Creek
1st, 100.\; Philadelphia and Reading deben. 6s,
65 ; do. scrip, 81 1 ; Philadelphia, Wilmington
and Baltimore 4s, 96 ; Pennsylvania Company
4Js, 95 J ; Schuylkill 6s, 1895,* 55; St. Pari and
Duluth pref., 71 ; Texas and Pacific consol. mort.
6s, 99|; do. Ist mort. 107; do. 1st mort. 6s, Rio
Grande div. 90; Union and Titusville 7s, 103;
Western Pennsylvania 6s, 104. The latest quo-
tations are : City 6s, — ©118 ; do. free of tax,
126(5^132; do. 4s, new, 102@109 ; Pennsylvania
State 6s, 3d series, 100@101 ; do. 5s, new
'oan. 115(^^116} ; do. 4s, new, 107@111 ; Phil-
adelphia and ReadiugR. R., 30|@30^; do. con-
sol. mort. 7s, reg., 124^@125 ; do. mort. Gs,
1170121 ; do. gen'l mort. 6s, coupon, 98!|@99;
do. 7s, 1893, 118@125 ; do, new, conv,, 73@77;
United New Jersey R, R, and Canal, 184@
185; Buffalo, Pittsburg and Western, 20|@20^;
Pittsburg, Titusville and Buffalo 7s, 102|@103 ;
Camden and Amboy mort, 6s, 1889, 113}@114 ;
Pennsylvania R, R., 62f@62J; do, general mort.
reg., 123i@— ; do, consol, mort, 6s, reg., 119J
@124 ; Little Schuylkill R, R, 55|@55i ; Mor-
ris.Canal, 65@.75; do, pref,, 165@169J;Schuyl.
kill Navigation, 5^06 ; do, pref., 12^@13} ;
do, 6s, 1882, 88^@89^; do, 1872, 107@108; El-
mira and Williamsport pref,, 58@60 ; do, 6s,
113@— ; 95@ do, 5s, 95—; Lehigh Coal and Nav-
igation, 43|@— ; do, 6s. 1884, --@105| ; do.
R. R, loan, 116|@117} ; do. Gold Lo.m, 112
@112} ; do. consol. 7s, 116^(^117 ; Northern
Pacific, 36J@36i ; do. pref., 75|@75 ; North
lennsylvania, 59^@60J ; do. 6s, 105@105J ;
do. 78, 123^ @— ; do. General mort. 7s, reg.,
119J@124 ; Philadelphia and Erie, 7s, 113f@
114} ; do. 5s, 104^@105i- Minehill, 60@60} ;
Catawissa, 18@19 ; do. pref., 53@53} ; do. new
pref., 50i@53} ; do. 7s, 1900, 120@— ; Lehigh
Valley 62}@62f ; do. 68, coupon, 120@121 ;

-v»>..

AMERICAN RAILROAD JOURNAL.*

do. reg., 121i@122J ; do. 2d mort. 7s. 134J@
134| ; do. consol. mort. 116J@118 ; Fifth and
Sixth streets fhorse>, U9@150 ; Second and
Third, lliJ-^^'Si^-, Thirteenth and Fifteenth,
79|@80i ; Spruce and Pine. 47^^49 : Green
and Coates, 99@100 ; Chestnut and Walnut. 94
0x^95',; Germantown, 60@70; Union, 110@12o ;
West Philadelphia, 110@112 ; People's 13^@
15J ; Continental. 100@104.

^a/ftmorc. —Atlanta and Charlotte, 82 J ; do.
1st, 110 ; Baltimore City 6s, 1890, 114^ ; do.
6s, 1836, 106 ; do. 6s. 1900, 128 ; do. 5s, 1916.
I20i ; do. 5s. 1900. 118; do. 5s, 1904. 115^; do.
4s, 1920, 112 ; Canton 6s, gold, 108^; Columbia
and Greenville 1st, 103^ ; Consolidation Coal,
36 J ; Chesapeake and Ohio Canal, 38 ; Ohio and
Mississippi, Springfield div. 1st, 122^ ; Richmond
and Danville, 191 ; do. gold bonds, 103 ; Rich-
mond and Alleghany, 38^ ; South Side (Va. ) 2d
6s, 101 J ; Virginia Midland, 75 ; do. 1st pref.,
i20 do. 2d mort., 110; do. 3d mort. 95; do. 5th
mort., 98 J ; Vitt;inia Black scrip. 32 ; Virginia
Peelers, 39J^ ; do. Peeler coupons, 38^. The
latest quotations are : Atlanta and CharlotLt,
82@82^ ; do. 1st. 109^-@110 ; Baltimore City
6s. 1884. 104@104^ ; do. 6s. 1890. 114}@115 ;
do. 5s. 1900. — @118}; do. 5s. 1916. 120.^@
120}; Baltimore and Ohio. 195@200 ; Central
Ohio 1st, 110^@112 ; Canton 6s, gold, 108i@
108J; Columbia and Greenville 1st, 103|@i03^;
Marietta and Cincinnati 1st mort., 124i{@1252;
do. 2d, 105i@105^ ; do. 3d, 59@59.V ; Northern
Central, 49|@50j'; do. 6s, 1900, gold. 113@— ;
do. 6s, 1904. gold. 111|@— ; do. 5s. 1926. 96^
@ — ; Norfolk and Western pref., 57@ — ; Pitts-
burg and Connellsville 7s, 120i@121: Richmond
and Danville, 195i@-; do. lst,gold, li)2^@103;
Virginia Midland 5th mort., 96@98^ ; Virginia
consols., 63^@64; do. 10-40s.39|@ — .

Boston. — Atlantic and Pacific 6s, 97 J ; do. 6s.
Income 31| ; Atchison, Topeka and Santa Fe
plain 4^s, 93 ; Boston Land. 8^ ; Boston Water
Power. 6} ; Burlington and Missouri River in
Nebraska 6s. non-exempt, 103g ; Chicago, Bur-
lington and Quincy 5s, 105 ; do. plain 5s, 1901,
lOi^; do. 4s, old, 88 ; do. 4.s, Denver ext., 37^ ;
Connotton Valley, 19; do. 7s, 90; do. 7s. Straits-
ville div., 75 ij- ; Chicago and West Michigan,
80 ; do. 5s. 95; Cincinnati, Sandusky and Cleve-
land 7s, 102^ ; Central of Iowa, 34| ; do. 2d
pref., 50 ; Chicago, Milwaukee and St. Paul,
Dubuque div. 6s, 104; Flint and Pere Marquette,
24|; do. pref., 95^ ; Iowa Falls and Sioux City,
84^ ; Kansas City, Topeka and Western 7s, 118;
Kansas City, Fort Scott and Gulf. 80 ; do. 7s.
112; Kansas City. St. Joseph and Council Bluffs
1st, 119; Little Rock and Fort Smith, 61 ; do. 7s,
112 ; Massachusetts Central 6s. 94^ ; Marquette.
Houghton and Ontonagon. 63 ; do. pref., 119 ;
Mexican Central blocks, new, 94; do. old, 110;
do. 7s, 86 ; New York and New England 6s,
107 J; New Mexico and Southern Pacific 7s, 115 J ;
Northern Pacific 6s, 98| ; Nebraska R. R. 7s,
115; Ogdensburg and Lake Champlain Inc., 47;
Rutland, 4 J; do. pref., 27; do. 6s. 101 J; Repub-
lican Valley 6s, 103 ; Sonora, 27 ; do. 7s. 89^ ;
do. block. No. 3. 150; Toledo, Delphos and Bur-
lington. 7^ ; Wisconsin Central. 20| ; Wiscon-
sin Valley 7s. 114 ; Allouez Mining Co., 3f ;
Atlantic. 19 ; Blue Hill. | ; Brunswick Antimo-
ny. 12 ; Copper Harbor. 4^ ; Copper Falls. 4 ;
^^^3 ' ■^*' franklin. 14i; Harshaw.4 ; Huron.
^|; Napa consol. Quicksilver, 7 ; National, 3| ;
Osceola. 34|; Pewabic, 17; Phoenix, 2^ ; Silver
Islet, 20; SuUivan. 2^. .

Forfeiture of Railroad Lands.

A JOINT resolution was introduced in the
House of Representatives at Washington on the
11th inst. to declare certain lands heretofore
granted to railroad companies forfeited to the
United States and to restore the same to the
public domain, and open the same to settlers
A schedule which is appended to the resolution
enumerates the following railroads, together
with the estimated quantity of land granted to
each :

Name of Railroad : Acres.

Gulf and Ship Inland * 652.800.00

Alabama end Florida 419..V20.00

Ooosa and TenueHsee 132,480.00

Mobile and Girard 840.8iO.00

Coosa and Chattanooga 150,000.00

Alabama and Chattanooga, formerly North-
east and Southwest Alabama and Wills

Valley railroads 897,920.00

Pensacolaand Georgia 1,568,729.87

Florida. Atlantic and Gulf Central 183, 153.99

North Louisiana and Texas, formerly Vicks-

burg. Slireveport and Texas Railroad... 610,880.00

New Orleans, Baton Rouge and Vicksburg 3.800,000.00

St. Louis and Iron Mountain 640.000.00

Little Rock and Fort Smith 1.0ii9,296.34

Detroit and Milwaukee 355,420.00

Houghton and Ontonagon, formerly Mar-
quette and Ontonagon 552,515.24

North Wisconsin, formerly St. Croix and

Lake Superior and branch to Bayfield . 1,408,455.69
Wisconsin Central, formerly Portage, Win-

nebargo and Superior 1,800,000.00

St" Paul and Pacific, St. Vincent extension, ^ ,
formerly branch to Hed River of the

North 2.000.000.00

St. Paul and Pacific, Brainerd branch,

formerly braneh to Lake Superior 1,475,000.00

Hastings and Dakota 550,000.00

Oregon Central 1,200.000.00

Atlantic and Pacific 42,000,000.00

Texas Piciflc 18.000,000.00

Northern Pacific 47,000,000.00

Electricity in Railroad Carriages.

Redemption of Bonds.

The following is the text of the one hundred
and seventh call for the redemption of bonds
of the loans of July 17 and Aug. 5, 1861, con-
tinued at 3^ per cent from July 1, 1881, issued
on the 12th inst. :

Treasury Deparement, )
Washington, DC, Jan. 12, 1882. \

By virtue of the authority conferred by law
upon the Secretary of the Treasurj', notice is
hereby given that the principal and accrued in-
terest of the bonds hereinbelow designated,
will be paid at the Treasury of the United
States in the city of Washington, D. C, on the
13th day of March. 1882. and that the interest
on said bonds will cease on that day. viz : Reg-
istered bonds of the acts of July 17 and Aug. 5.
1861, continued during the pleasure of the
Government under the terms of the circular
No. 42, dated A.pril 11, 1881, to bear interest at
the rate of 3i^ per cent per annum from July 1,
1881, as follows : $50, No. 1,851 to No. 1.950.
both inclusive ; $100. No. 13,001 to No. 13,700.
both inclusive ; $500, No. 9,601 to No. 10,000,
both inclusive ; $1,000. No. 47.001 to No. 48.-
900. both inclusive ; $5,000. No. 16.001 to No.
16,150. both inclusive ; $10,000, No. 30.101 to
No. 32.550. both inclusive ; total, $20,000,000.
Many of the bonds originally included in the
above numbers have been transferred and can-
celed, leaving outstanding the amount above
stated.

Bonds forwarded for redemption should be
addressed to the " Secretary of the Treasury,
Loan Division, Washington, D. C," and all the
bonds called by this circular should be assigned
to the " Secretary of the Treasury — For re-
demptior." Where checks in payment are de-
-ired in favor of any one btit the payee the
bonds should be assigned to the " Secretary of
the Treasury — For redemption for account of

," (here insert the name of the person or

persons to whose order the check should be
made payable.)

, , ..... Chas. J. FoLGEB, Secretary.

An interesting and successful experiment in
lignting railway carriages by electricity has just
been made in England. Th6 train was the
Pullman Limited mail, consisting of four cars,
running between London and Brighton. The
lamps were Edison's incandescent lamps, of
which altogether 29 were used. As the train
entered Box hill and other tunnels on the
Dorking, Horsham and Steyning route, b}'
which the trip to Brighton was made, the cars
were simultaneously, and by the mere turn of
a handle, brilliantly lighted, and as quickly,
when the train emerged, the light was turned
off. On the return journey the cars were light-
ed all the way from Brighton to Victoria, the
lamps burning with a steadiness undisturbed
by the motion of the train. The electricity
was supplied by Faure accumulators, of which
80 were carried. Mr. W. Lachlan, the engineer
representing the Societe La Force et La Lu-
miere, who wbs in charge of the batteries, re-
ported that but 30 were brought into use on
the down journey, and only a portion of the
electricity stored in these was expended. On
the up journey these and four fresh boxes were
brought into operation. For the present the
accumulators are chargetl each evening with a
dynamo machine worked by a small stationary
engine. It is expected, however, that before
long the electricity required will be generated
on the train itself, the chief practical difficulty
in the way of this saving of force arising from
the unavoidable alterations in the speed of the
train — a mechanical difficulty which the in-
genuity of the electrical engineers will no doubt
overcome.

Revolutions in liocomotives.

Inventors have shown a disposition of late
to depart altogether from the old and seeming-
ly well established general form of locomotive
engines. A great many changes have been
made in the details of locomotive construction
since its early days, but the machine itself still
remains the same in general appearaince. The
Wooten dust burning engines present a some-
what different form, and the Fontaine, with its
main driving wheels and most of the machinery
above the boiler, is still more novel in the ar-
rangement of parts, though most of the outline
remains the same. Another new locomotive —
Dr. Raub's— does not at all resemble the ordi-
nary locomotive, except that it has wheels and
a cow catchtT. The boiler or boilers extend
from end to end. The smoke stack, steam
dome, cylinders and driving gear are all in the
centre, grouped' together under the cab. The
purpose of this construction is to get the centre
of gravity in the centre of the base formed by
the driving wheels, and to put the motive
power also in the centre. If one of Dr. Ranb's
locomotives should be cut in four quarters,
each quarter would be exactly like the other
quarters in form and weight. ^Vhether these
new forms are practically better than the old
remains to be proved by actual work, but it is
a good thing for inventors to get rid of the
notion that they are bound to follow closely an
adopted form or system while seeking to make
improvements. Habit, custom, prejudice are

■.\,Sikiiu^.-\^i-^;.

'W. ""!' 4-frr>s.'*..

^y'TT-.-^T r^i^^'!** V'^^^f-^v'.

■■■yp^-< /v^.

AMERICAN RAILROAD JOURNAL.

so mftny dead weights on inventive genins.
They should not enslave the mechanic, how-
ever, though he, more than anyone else, needs
to know what has been accomplished, and
why certain forms have been adopted.
-^

A Texas Mother-In-La-w.

SEAJICHING FOB A SPINDLE-SHANKED, GOGKILE-ETED
PRODIGAX, SON.

A TAi,L, woman, wearing a sun-bonnet, came
into the oflfice of the chief of police, and, sit-
ting down hard on a bench, wiped her nose,
snapped her eyes at the chief, and asked, in a
voice that reminded one of the sharpening of a
saw:

'* Be you the galoot what locks folks up?"
"I regret to say that I am occasionally
obliged to resort to such extreme measures with
!. refractory persons." i ~ 'I

" I know all that; but be you the galoot ?"
; . " Yes madam." j

" Why didn't you say so when I asked you?"
♦ "I did."

" You didn't, sir ; and if you don't treat me
like a lady, I'll fold you up and sit down on
you," and she snapped hereyes some more like
\ ■ :;■ aterrier. . ^;^^-. -,.1 .; / !

T— ^ "What do you want?" asked the official,

looking as if he needed reinforcements right
away, and plenty of them.

"I want that dirty little whelp what married
my darter. I want to talk to him on business,
but he evades me. If I could only get a chance
•' /. to caress him once more !" and she breathed

hard and gritted her teeth, until the official
felt in his pocket for a police whistle.
" "What did he do?" '1

■ " He told my darter that he would give 320

acres of land, with a gold mine on it, to any-
body who would ampertate my jaw with a boot
', jack. He said my mouth was like the gate at

the Fair Grounds. "
w "He meant, I suppose, it was never shut.

I don't see how he ever came to make such a
• ridiculous comparison as that. Did you ever
remonstrate with him ?"
,. "You bet I did. I drawed him across the

;: kitchen table by the hair with the one hand,

while I basted him with a long-handled skiUet,
and you should have heerd him calling me
• mother darling' and ' pet,' but Providence was
agin me. His har gave way, and he lit out be-
" : fore I could reason with him any more. Just

"y as like as not we will never meet again," and
^-," she sighed heavily.

" Be calm, madam: do not excite yourself too
_/■_'-' much." '■:'■■'-■ ■"-. ■■^'; ,t . -■■, W i

"I am calm. I like to talk about these fam-
ily seerets. It calls up sacred recollections.
It makes me think of mv darter's fust husband.
It was real fun to remonstrate with him. His
har didn't give. He was game. He sassed
back, but. Lord! what a time they had holding
the inquest. That was at Arkansas, before I
moved to Galveston. There was some of his
remains in one comer of the yard, and a few
' more remains hanging on the fence, and there
was right peart of him wrapped around the
axe-handle. The jury knew me, so they brought
in a verdict of justifiable suicide, or homicide,
or something like that. And now to think of
this pesky little, worthless, spindle-shanked,

goggle-eyed whelp getting clear ofif, excepting a

few pounds of har. I want you to find him for

me. You can know him by the brands I made

on him with the hot skillet. Wanted to ampu-
tate my jaw, the little brassy whelp ! Said my

mouth was like a gate, did he ?"

The official said he would hunt for him, and
let her know. As she went out, she snapped
her eyes significantly at the official, and re-
marked :

" You had better find that prodigal son, or
thar'll be music at these headquarters. — Gal-
veston News.

Good Promise in California.

The dispatches sent to the Snn Francisco Alia
from various parts of the State all indicate a
fairly prosperous condition of trade and indus-
try, and give promise of a successful year.
Agriculture in all its branches is making steady
progress. The wheat, vine, and orchard areas
are wider than ever before. Local trade is
flourishing, building improvements are numer-
ous, there are fewer mortgages than has been
the rule, small factories are increasing in num-
ber, and a general feeling of hopefulness is
noticeable. It is true that in the southern sec-
tion the rain fall has not yet been so abundant
as is desirable, but there is still time for the
clouds to give down all the moisture that is
needed. The mining industry is temporarily
impeded by unwise litigious opposition, but
time will right this. California is in so pros-
perous and hopeful a condition that a large im-
migration should follow the publication of the
facts. There is still a considerable amount of
land open to settlement, upon which industri-
ous farmers and fruit-growers should be able to'
establish permanent and comfortable homes.
The era of depression may be considered to
have passed away, and henceforward our State
will make rapid progress. ,

Engraving by Sand Blast.

This is one of the most curious and strange
of the inventions which have come into use in
these latter days. To make an inscription up-
on a marble slab, cover the face of the stone
with a sheet of wax no thicker than a wafer ;
then cut out in the wax the name, date, &g.,
leaving the marble exposed. Now pass it under
the blast, and the sand shall cut it away. Re-
move the wax and you have the cut letters. To
cut or mark plate glass, cover it with fine lace
and pass it under the blast, and not a thread of
the lace will be injured, but the sand will cut
deep into the glass wherever it is not covered
with the lace. Now remove the lace, and you
have a delicate and beautiful figure raised on
the glass. In this way beautiful figures of all
kinds are cut in glass and at a small expense.
The woi"kmen can hold their hands under the
blast without harm, even when it is rapidly
cutting away the hardest cutting glass, iron or
stone; but they must look out for finger nails,
for_they will be whittled off right hastily. If
they put on steel thimbles to protect their nails
it will do but little good, for the sand will whit-
tle them away ; but if they wrap a piece of soft
cotton around them they are safe. You will at
once see the philosophy of it. The sand whit-
tles away and destroys any hard substance —

even glass — but does not effect substances that
are soft and yielding, like wax, cotton, fine lace,
or even the human hand. . ' "1

Cincinnati Iron Market.

Office of E. L. Haeper & Co.

Cincinnati, Jan. 17, 1882,
The market is about the same as reported
last week. Stocks are light, demand good and
prices strong.
We quote as follows :

No. Mm.

Hanging Rock Charcoal 1 29 50@30 75 4

Strong Neutral Coke 1 27 00@28 00 4

American Scotch 1 26 50@27 60 4

OBEY FOBOE.

Neutral Coke 25 60^26 50 4

Cold Short 24 00@25 00 4

CAR WHEEL, AND MALLEABLE.

Hanging Rock Cold Bla.st 36 00(g>38 00 4

Warm Blast 30 00(5)32 00 4

Lake Superior 1 and 2 32 00(a33 00 4

Lake Superior 3 to 6 34 00®36 00 4

Southern Car Wheel 36 00@40 00 4

Poetic Perry Boat.

The new ferryboat " Wenonah," constructed
by the Harlan & Hollingsworth Co., of Wil-
mington, Del., for the Camden and Philadel-
phia Ferry Co., arrived at Camden, N. J., on
the 11th inst. Its entry into the waters of the
Delaware is thus poetically described by Walt
Whitman :

" Such a show as the river presented an hour
before sundown yesterday evening all along be-
tween Philadelphia and Camden is worth weav-
ing into an impromptu item. It was full tide, V^
a fair breeze from the southwest, the water of a
pale tawny color, and ju.^t enough motion to
make things frolicsome and lively. Add to
these an approaching sunset of unusual splen-
dor, a broad tumble of clouds, with much gold-
en haze and profusion of beaming shaft and
dazzle.

"In the midst of all this, in the clear drab of
the afternoon light, there steamed up the river
the large, new Camden f e]*ry-boat, the Wenonah,
as pretty an object as you could wish to see,
lightly and swiftly skimming along, all trim and
white, covered with flags, transparent red and
blue, streaming out in the breeze.

" Indeed, the boat and the scene made a pic-
ture worth contemplating. Only a new ferry-
boat, and yet in its fitness comparable with the
prettiest product of nature's cunning and ri- . ;
vailing it. High up in the transparent ether,
gracefully balanced and circled four or five'
great sea-hawks, while here below, amid the
pomp and picturesqueness of sky and river,
swarmed this creation of artificial beauty and
motion and power, in its way no less perfect." .

The dimensions of the Wenonah are, length,
158 feet; width, 54 feet; depth of hold, 12 feet.
The wheels are 18^ feet in diameter and 7^ feet
face. The cylinders are 44 inches in diameter,
with 10 feet stroke. The boat is substantially
as well as elegantly finished, having been con-
structed for strength and durability, especially :
for service in heavy ice. '

The Forth Bridge.

•[■

i.'

It is stated that except as regards site, there
is nothing in common between the original
bridge of St. Thomas Bouch and that which
has been agreed upon by the consulting engi-
neers of the three great English Companies in-
terested in the East Coast route. It will be re-
membered that, after the fall of the Tay Bridge,
the Forth Bridge works then in progress were
stopped, and the question of building a trust-
worthy bridge of any kind across the Firth of

VT^"' •j;'s^r!-.- *:.=? '-^'i-K ,•!■

AMERICAN RAILROAD JOURNAL.

• T r'»ip . ^T''?^

Forth was referred afresh to Mr. T. E. Harris-
on, Mr. W. H. Barlow, and Mr. John Fowler.
It is intended to give such strength and stabil-
ity to the proposed bridge that, even if every
important bridge and building in the country
were levelled to the ground by a tornado pres-
sure of 112 lbs. per square foot, the Forth Bridge
would remain unscathed, and approve itself the
strongest and stiff est bridge in the world. The
strength of the several members of the struct-
ure will, it is said, be such that, even assuming
the 1,700 feet span were loaded with a couple
of 900 tons trains, each consisting of two of the
heaviest engines built, at the head of fifty of
the heaviest coal trucks, and that at the same
time the bridge were struck by the aforesaid
hypothetical, but physically impossible, tor-
nado, not a single rivet or joint would there be
started, nor would there be the slightest chance
of the structure being overturned or injured in
any respect. — HerapaWs Railway Journal.

Improving the

Channel
River.

of the Harlem

Senatob MiiiiiER, of New York, on the 18th
inst., presented to the U. S. Senate a memorial
signed by Thomas Dickson, president of the
Delaware and Hudson Canal Company, Brown
Bros. & Co., and other perminent capitalists of
this city, ui^ing the passage of a joint resolu-
tion now pending before Congress to authorize
the Secretary of War to contract with Charles
■ Stoughton and others to construct a channel
300 feet in width and 15 feet deep along the
course of the Harlem River, from the Hudson
River at Spuyten Duyvil creek to the outer end
of Randall's Island. Mr. Stoughton and his
associates, the memorial states, propose to
furnish the right of way free and render the
projected channel navigable by July, 4 1884,
for the sum" of $1,300,000. As will readily
appear, the completion of this work would be
of great advantage to coal shippers to the ports
along the Sound and to New England.

THE LAKE SHORE AND MICHIGAN SOUTH-
ERN RAILWAY COMPANY,

Treasurer's Office, Grand Central Depot,
New York, December 23cl, 1881.

The Board of Directors of this company havA this
day declared a QUARTERLY DIVIDEND of TWO
per cent upon its capital stock, payable on WEDNES-
DAY, the first day of February next at this office.

The transfer books will be closed at 3 o'clock P.
M. on Saturday, the 31st instant, and will be re-
opened on the morning of Saturday, the fourth day o^
February next.

B. D. WORCESTER, Treasurer

FOR SALE.

Ten new Locomotives, Standard Gauge, June
and July delivery.

New 3ft. Gauge Locomotives, summer delivery.

One Second-hand Tank Locomotive 3ft. G«uge,
rebuilt good as new, January delivery.

Second-hand Standard Gauge Locomotive and
Passenger Cars.

Thirty new Box Cars Standard Gauge, immedi-
ate delivery. :-

New Flat and Coal Cars, January delivery.

New Passenger and Combination Coaches 3ft.
Grange, early delivery.

New Car Wh eels and Castings. ,.

Eron and Steel Rails.

Narrow-Gauge Rolling stock a specialty.

BARROWS & CO.

■ ' Q4 Broa.ci"w-a.3r,

NEW YORK.

Interest allowed on Deposits subject
to Draft. Securities, &c., bought and
sold on Commission.

Investment Securities always on hand.

ALOJVZO FOLLETT,

— r—

I THE PERFECTED

R E fi[ I N G T O N

Negotiator of prime Commer-
cial paper at Low Rates. Does
not solicit and will not take
hold of any but concerns whose
paper is A L ^

Scioto R. R. 1st 7's, 1905.
Scioto R. R 2nd T's, 1879.
Scioto R R. Con. 7's, 1910. '
• I Scioto R R. Stock.

Columbus & Toledo 1st 7'8, 1910.
ToL, Cimn. & St. L. Stock and Bonds.

D. A. EASTOIV,
Wo. .1§ Broadway, W. Y-

As Mad as a Hatter.

The most striking (in .two senses) thing
about the hatter's art, in the old time when felt
hats were made by hand, was the beating up
of the felt. Dippii^ the mass of wool and hair
from which his fabric was to be formed, fre-
quently into hot water, the hatter was then
wont to fly at it, as if in passion, and give it a
violent beating with two sticks, one held in
each hand till it was matted together into the
felt, which in time, after numerous combings
and dressings and shearings, became the stylish
beaver worn by the men of fifty years ago.
The hatter seemed to' be very mad at this object
of his labor, and "mad as a hatter " needed no
explanation in those days.

The Marquis of Bute started a daily paper in
Wales, and after sinking about $400,000 in the
concern shut up the shop. As a marquis he is
all right, but in journalism the Bute is on the
other leg. ;v.:Ac-.-.- -,;ii/.-;-^;v- : -iv/ r-

TYPE-WRITER.

\ WRITING - MACHINE which combii
ia^'e w^ith rapidity and accuracy,
and economy with elegance
and convenience.

Adapted to general use. Every machi >*>
guaranteed.

Send for Circulars with names and testimonials
recent patrons.

, E. REMINGTON & SONS,

281 and 283 Broadway, New York.
38 Madison Street, Chicago.
124 South 7th Street, Philadelphia.
9 1 South Howard St., Baltimore.

[Mention thia paper.]

Paine, Webber & Co.,

, Bankers and Brokers,

IVo. 53 Devonshire St.. Boston

:, (Membert of the Botton stock Exchange.)

Devote special attention to the purchase and sale of
Stocks and Bonds in the Boston market, the careful se-
lection of securities for investment, and the negotiation
of commercial paper.

Wm. a. Paine. Wallace G. "Webbkb. C. H. Paine.

John H. Davis & Co.,

g BMERSUHDBBOeS,^; ^

UTo. 1Y UTall StM Mew ¥ork.

Brown, Brothers & Co.,

No. 59 Wall Sheet, New You,

"■' • — BUT AND SELL —

< — ON —

BBITArN, niELAND, FRANCE. GERMANY,
• BELGroM, AND HOLLAND.

sri

GREAT

S^^A?'ION WANTED AS CIVIL ENGINEER ON A
►^ Railroad; can do machinists work, erect bridges,
well conversed in Spanish language. Educated at
Bens. Poly. Inst.. Troy, N. Y. Address

CIVIL ENGINEER, P. O. Box 1594. N. Y.

issue Commercial and Travelers' Credits in Sterling,

AVAILABLE IN ANY PART OF THE WORLD, AND IN
FRANCS IN MARTINIQUE AND GUADALOUPE.

Make Teleobaphic Transfebs of Monet between this
and other countries, through London and Paris.

Make Collections of Drafts drawn abroad on all points
In the United States and Canada, and of diufts drawn in
the United States on Foreign Countries.

Interest allowed on temporary and standing deposits.
Ptocks and Bonds bought and sold on Commission only,
►^ither on Margin or for Investment.

JOHN STEPHENSON CO.,

[LmrrKD.]

a!'xi..Aj&c-

NEW YORK.

Superior Elegance, Lightness and Du-
rability. The result of 50 years' experi-
ence. •;.;■.,■.•':.:.•..■ ^ir^'- ;. ; '■.■-■ :':i' ■'■'-:■: :-.^:- .--:.

Adapted to all countries and climates.
Combining all valuable improvements.
Shipped to Foreign Parts with greatest
care, and at most favorable rates.

^ AMERICAN RAILROAD JOURNAL

< OF FI C E OF 1

AlflJE RIC A

REFRieERATOR

:'.:■: LINE,:; 1-

New York, Oct., 1881.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported
Liquors, Patent Medicines, Es-
sential Oils, Mineral Waters,
Lager Beer, Ales and Porters,
Oysters, or, in fact, any class oi
goods that n6eds protection
from heat or cold while in tran-
sit to the West and Southwest,
jfither in Summer or Winter,
will do well to ship the same by
the new and elegant cars of the

BErEIBEMTOR TMSIT COMI

Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and at reasonable
j ; Prices by the ':'■■''' '■■:'i.^;'rA \^:^'"-': '<^ ")'</ ''l'. . I ■'■■■'. "•'

I \ HARLAN & HOLLINGSUOKTH CO., ITiliningtoii. I>e1.

PARDEE CAR WOAKS.

WATSONTOWN, PA.

I, KlilXUUAi «, 1/Ul,

PROPRIETOKS.

iMla.n.'uf^Qtu.rors of

Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, (3oal, Mine, and Hand Cara ;

Keiley's Patent Turn-Tables, and Centers for Wooden Turn-Tables;

Car Castings, Railroad Forgings, Rolling-Mill Castings,

Bridjre Bolts and Castings.

4Sr''^e have, in conn«ction with our Gar Works, an extensive Foundrj and Machine-shop, and are prepared
lo do a general Machine Business. >., ,^ i,, . ,

Chairman,
LBIO PAKDEE.

Treasurer and General Manager,
H. I*. SNYDER.

Secretary,
N. liEISEB.

NEW YOKK CITY OFFICE : ROOM A, No. 137 BROADWAY.

C. W. LEAVITT, Agent.

Gaaranteed Bills of Lading

Time as qnick and rates as
low as by any first class fasi
freig^ht line. i

JE^Shlp from New York rla
N. Y. C. and H. h. .k R., St.
John^s Park ; from Boston via
Boston and Albany K. K.

For rates and information apply to

FAED'K I. EVANS,

: Beneial Eastern Agent.

92 Wall Street, - New York.

271 Broadway, New York,

282 Washington Street, Boston*

m mi uu E BiE, m m nu Riiiwif.

TO THE TR,<A."VBI_iIlsrca- PXJBIjIO. ^-- • -^

- During the Centennial season— six months closing September 10, 1876— the Erie Railway caiTied almoti

rwaxs. MiLuoN passengers, without a singe accident to life or limb, or the loss of a piece of baggage.
„. ^^^ 'or a whole jrear the official records of the United Statee Post Office Department show th« trrirals of
awe Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competing lines.
Facts well worthy the consideration of travelers.

E. S.iBO'WEU', General Superintendent.

JNO. N. ABBOTT, Gfen. Puatngtr Ageni,

i Railioad

Track Scales.

PHILADBLPHIA,

50 South 41 h St.

V NEW YORK,

115 Liberty Street.

PITTS BUKGH,
Liberty St. cor. 7th Av.

.*T. L.OU1S,
609 North 3<l Street

NKIV OKLRAnS,
XA'Z Gravler Street

THE ROGERS

LOCOMOTIVE MB MACHINE WOBES,

FcLterson, N". J.

Haying extensive facilities, we are now prepared to
furnish promptly, of the best and most approved de-
scription, either . , .

COAL. OR IVOOD BURNlNl^

!-i0001^0TIVE3 E31TCHITBS,

AND OTHEB VASIETIES OF

BAILROAD inACHINERY.

• 4 '

j. 8. ROGERS, Prei't
R. S. HUGHES, Sec
WM. 8. HUDSON

retH, \
Jec'y. J
, Sup'L )

PatersoBt N. J.

I^ S. HTJO-mSS, TrestsvLxei.
j. 44 Exehuftc* Pl«oe> Ne'er York.

T £1 Ej

G(JRDO\ & DUGGA^

RAILWAY SWITCH.

The Standard on several and in use on

twenty -five Bailroads. '♦ . '. : ' ''/■- 1 ' . "•■ ' -

Combines Safety, Durability, Simplicity,
and Low Cost, with Fixed Rails.l

The only movable piece weighs 375 lbs.,
and is without a bolt or rivet. . • ;■' |' ■, . ':..-

E. CORDON, Treasurer, i v

No. 28 State Steeet, Boston, Mass. . '.

r; 1

-'""^ ■-''•"''"

AMERICAN RAILROAD JOURNAL.

VALENTINE'S VARNISHES

•1.;

ARE ON SALE IN THE FOLLOWIN& COUNTRIES:

ENGLAND.

FRANCE.

GEUMANY.

SWITZERLAND.

• .- ITALY. ; ; \ ,

■'■ ■--• • '■ . -'1 ■ >

HOLLAND.

AUSTRIA.

y *■■"■'

SPAIN.

SCOTLAND,
KUSSIA.

INUIA.

SOUTH AMERICA.

MEXICO.

AUSTRALIA.

NEW ZEALAND.

CUBA.

VALENTIN li A d 6 M PANT,

W-M'-' COACH AND CAR VARNISHEsJ^-?^: :■ ■"

V-i ^

¥:

E A M E S V A C U V M B RAKE CO.

r-/^. :.:*;. RAILWAY TRAIIV BRAKES, ^^mW-m^^:^

P.O.Box 2,«7§. MALES OFFICE 15 GOLD ST, N. V. R«*prrsenti-d by THOS. PROSSER & SOW.

The EAMES VACUUM BRAKE is confidently oflfered as the most efficient, simple, durable uid ckea^pest Fow«r Brak* in tb«
market. It can be seen in operation upon^over seventy roada. '''.y '-:■.' "':'/''

• >■-...-■.'•* f : ■/ J

•-^.TF--

AMERICAN RAILROAD JOURNAL.

Baker & (iodwiirs

PRINTING HOUSE.

ESTABLISHED 1850.

MODERN RmLWAY PRINTING.

:(■

peelal attention Klven to this class of ivork.

This establishment is very extensive, adapted to every
variety and style of Printing, and the proprietors hope
to be favored with a share of Railway patronage. Esti-
mates furnished on application.

BAKER & GODWIN, Printers,
No. 25 Park Row,

Dirsctly opp. Post Office. NEVT YORK.

Printing of all kinds at greatly reduced rates.

; NO OTHER LINE IS SUPERIOR TO THE

FITCHBURG RAILROAD

HOOSAC TUNNEL ROUTE
"WEST.

THE RHILWIIY TIMES

AND JOrNT-STOCK CHRONICIiE.

The Railway Times was established in the year 1837, ana
as consistently maintained the purpose for which it was
tarted — to giveau independen taccount of all matters of
importance to railway shareholders, not neglecting, at
the same time, the duty of keeping its readers well in-
formed on all matters of commercial interest.

It is published every Saturday. Price 5d, The price of
subscription for one year is £1 1«.

No. 2 Exeter Street Strand W. C. London.

flOUSATONIC RAILROAD

THE ONLY LINE RUNNING

T I^ I^ O TJ.C3r X2 C -A- I?. S

Between New York, Great Harrington, Stockbridge, Len-
ox, and Pittsfleld — the far-famed resort of the

Berkshire Hills

of Western Massachusetts — the "Switzerland of America."
Two through tnilus daily between New York City and

all points on the llousatonic Railroad, from the Granc

Central Depot via the Now York, New Haven, and Hart

ford Railroad at 8:05 A. M. and 3:43 P. M.

Descriptive Guide Bo«)k sent free upon application to

the General Ticket Agent.

li. B. STILLSON, Supt.
H. D. AVERILL, Gen. Ticket Agt
Gen'l Offices, Bridgeport, Ct.. Nov. 7, 1881. ,

8.30 A

DAY

EXPRESS.

rh|x>ugh drawing-room car to Rochester, N. Y., connecting with through sleeping car
lor Cincinnati, Cleveland, Toledo, DETROIT AND CHICAGO,

P. CINCINNATI

M. EXPRESS

:-;i;-:

Pullman Sleeping Car attached, running through to Cincinnati without change. (Onb
Line running Pullman Cars from Boston.) This car runs via Erie Railway, making direc
connection for Louisville, St. Louis, Kansas City, New Orleans, and all points in Texas an (
New Mexico.

P. ST. LOUIS

M. EXPRESS.

johnB.DavidsiCo^

SUPERK

INGIXEEI

lfacturerH,Miners,Merchants,itc.,willtindinMoOKK'B

UNrvERSAL Assist ANT AN'D Complete Mf.chanic, a work
containing 1016pa'res,500Enprravings, 461 Tables, and over
1.000,000 IndustriafFacts,Calculations, Procpsses, Secrets,
Rules, Ac, of rareutilityin 2 )0 Trade?. A f 5 bookfree by
mail for f 2.50, worth its weightin gold to any Mechanic,
FarmerorBusinessMan. Agents Wanted. Sure sale every-
where for all time. For 111. Contents Pamphlet, terms,
and Catalogue of 500 Practical Books, addressNATlONAL
Book Co.. 73 Beeknan St., Kew Y«rk.

ALL ABOUT HAWSAS

THE WEEKLY CAPITAL is an eight-page, 48-column
paper, published at Topeka, Kansas, giving full and re-
liable State news, crop and weather reports from every
County. $1.00 per year. Sample copy free.

THE ONLY LINE which runs a THROUGH SLEEPING-CAR from

BOSTON TO ST. LOUIS WITHOUT CHANGE!

1 ' ARRIVING AT 8.00 A.M. SECOND MORNING. ^^

Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville
Tolono, Decatur and St. Louis, maliing direct connection with through Express Trains fo:
Kansas, Colorado, Texas, and all points in the .., - ........

SOUTHWEST.

P. PACIFIC

M. EXPRESS.

The only line running a through sleeping car via Buffalo and Detroit without change
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex-
press Trains for Iowa, Nebraslca, Kansas, Colorado, the Pacific Coast, Wisconsin Minnesota
and all points in the ., ,7

WEST AND NORTHWEST!

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED.

niis Great Short Line passes through the most celebrated scenery in the country, including the famous
HOOSAC TUNNEL, four and three-quarters miles long, being the longest Tunnel
I . i . -.- ■' in America, and the third longest In the world.

licketM, Drawinir-Rooiii and Sleepingr-Car Accommodations may be secured in Advance
j. *y Applyingr to or AddreNsingr f \

250 WASHINGTON STREET, BOSTON. 250

JOHN ADAMS, General Superintendent. V. '^ ^ ^^^^

r. 0, HEALD, Acting Gen'l Passenger and Ticket Ageat.

■: i

■A

■ -i ■■ ,

AMERICAN RAILROAD JOURNAL.

E. W. Vandeebilt.

E. M. Hopkins.

VANDERBILT & HOPKINS.

Kailroad Ties, -^

Car and Railroad Lumber, White and Yellow Pine and Oai.
■ ISO liberty Street, 1\. Y. >x^

Also North Carolina Pine Boards, Plank, and Dimen
8i< ns Lumber to order. General Railroad Supplies.

■ SHIIGG BROTHERS,

DESIGNERS AND ENGRAVERS

,;■■'■..- ON '.-■.;-".:■■■■ ■■■■■-■'

AND : ' - ■ '■■ -■--

PHOTO ENGRAVERS,

No. 18 Cortlandt Street,

-. .,^. :-:--;.'.;'/ \.:\ NEWYORK.

"^ V KNOX & SHAIN,

Manufiacturers of Engineering and Telegraphic Instru-
ments. No. 716 Chestnut Street, Philadelphia. Two
Medals awarded by the Franklin Institute, and one by
; he Centennial.

SOO Z^OHDrFTC-AuTIOlTS.

ADAPTED TO ALL CLASSES

n ; OP BUSINESS. 1

Mhd and Warehouse Tmcb,

AND COPYING. PRESSES

I .^ Oldest and Largest
Scale Works in the World.

BUY ONLY THE GENUINE.

Dormant Warehouse Scales.

: .. 311 Broadway, New ¥ork.

PATENTS

We continue to act as Solicitors for Patents, Caveats,
Tnuie Marks, Copyrights, etc., for the United States,
Canada, Cuba, England, France, Germany, etc. We
have had tbirty-flve years' experience.

Patents obtained through us are noticed in the Sci-
entific AMERICAN. This large and splendid illus-
trated weekly paper, $ 3 .20 a year,shows the Progress
of Science, Is very interesting, and has an enormous
circulation. Address MUNN & CO., Patent Solici-
tors, Pub's, of SciKNTiFic AMERICAN, 37 Park Row,
JSewYork. Hand book about Patents free.

COMBINATION SAW.

' Without Lathe.

FIDELITY AND CASUALTY COMPANY,

CASH CAPITAL, - - - - $250,000. j

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and responsibility,
thus securing a Corporate Guarantee in lieu of a Personal Bond where security ie required for the faithful per-
formance of the duties of employes in all positions of trust. ■ .,

-A^OOUDBISTT FOLiIOIBS.

Policies issued against accidents causing death, or totally disabling injury, insuring £rom Five Hundbed
DoLLAKs to Ten Thousand in case of death, and from Thbbe Dollabs to Fifty we«kly indemnity in case of dis
abling injuries.

"WM. M. ig:CHAKDS, /Ve«7. . / - JOHN M. CRANE, Secy.

DIRBOTORS: t

George T. Hope,
(t. G. Williams.
J. S. T. Stranahan.

H. B. Claflin.
A. S. Barnes.

H. A. HURLBUT.

W. G. Low.
Charles Dennis.
S. B. Chittenden.

Geokoe S. Cok.
Wm. M. Richards.
A. B. HoLL.

STEEL
CASTINGS

FROM 1-4 TO 10,000 ibs. WEIGHT.

True to pattern, sound and solid, of unequaled strength, toughness and

durability.
An invaluable substitute for forcings or cast-irons requiring three-fold

strength.
CROSS-HEADS, ROCKER- ARMS, PISTON-HEADS. ETC., foi

Locomotives
15,000 Crank Shafts and 10,000 Gear Wheels of this steel now mnnin;

prove Its suneriority over otlier Steel Castings.
CRANK-SHAFTS, CROSS-HEADS and GEARING, specialties.
Circulars and Price Lists free. Address

CHESTER STEEL CASTING CO.

40T Library St., PB[IL.AD£L.PIIIA
IVorks. CH£ST£R, Pa.

SWIFT'S IRON AND STEEL WORKS,

26 W. THIRD ST., CINCINNATI, OHIO. i

Manufacturers of all Weights of Standard and Narrow Gauge Ralls by the most approved process. Also Rail Fastenings,

Steel and Bloom Boiler Plate, and Tank. Sheet and Bar Iron.

BETHLEHEM IRON CO. i
IROW AJyP STEEL R AIIi8.

GEO. A. EVANS^ I

No. 74 Wall Street, - - - New York.

Price $6 without Iiathe ; with Lathe, $8.

Address the llANUTACTURBas,
C. M. CRANDAL.L & CO.,

MOKTTBOSE. Susquehanna Co.. PA.

Sandusky Rail Mill Co^
n^ew Albany Rail Mill Co.

STEEL RAILS,

IRON RAILS,

BLOOMS.

C. H. ODELL, AGT.

104t Jolkn St., N. T.

FOR SALE IW I OTS TO SUIT.

Prompt Delivery*

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS,
AND FOR RE-ROLLING OLD RAILK

OLD RAILS AND SCRAP AND CAR WNELS BOUGHT AND SOLD.

%::-.i

\^<i7:^:''l-i.:.\

AMERICAN RAILROAD JOURNAL.

■ • f\'- . '. ** '' '

This material is indistructible and therefore valuable for all purposes of

-A.N"D-

HEAT,i

FROST-PROOFI]\G.

Over 3.600,000 lbs. now in actual use ; 614,000 Ibn. of which have been applied in cars as shown in diagram.

Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution

Sample and circular &ee by mail.

1 UNITED STATES MINERAL WOOL COMPANY,

ITo. IQ Oortlandt Street, N-HTW TTOR/K

NATIONAL TUBE "WORKS CO.

MmUFACTUHE WROUGHT lUO\ PIPE AND TUBES.

WORKS: 1

McKeesport, Penh.
Boston, Mass. \

NATIONAL SPECIAL SEMI-STEEL

OFFICES:

TTIDF^ 1 04 and 1 06 John St., N.Y

8 Pemberton Sq., Boston.
I 59 Lake St., Chicago.

C4i

K*»TABL.ISHG:D in 1836

LOBDELL CAR WHEEL COMPAH,

Hrilmingrtoii, Delaware.

GEORGE G. LOBDELL. President.

WnJJAM W. LOBDELL, Secretary.

P. N. BRENNAN, Trecuurtr.

J. C. BEACH, Treas.

C. H. ANTES. Sec'y.

ALLEN PAPER ^M WHEEL COMP'Y.

Oen'l Office, 940 Broadwit) , N. Y.

WOBKS AT PULLMAK, ILL., AND HUDSON, NKW TORK.

i EAOLE
TUBE CO.

614 TO 626 WEST 24TH ST.,

New York.

Boiler

Tubes,

AN INDESTRUCIIBLE WHEEL FOR PASSEN-
GER CARS AND ENGINES.

A. Whitivey & Sons,

CAH WHEEL WORKS,

Callowhill and 16tli Streets,

PHTLADELPHIA, PA.

Of all regrular sizes, of the
i best material, and
j I warranted.

LocomotlTe Water-Grates a
specialty, and 20 per cent
i below regular prices.

W« funiislx CHILLED WHEELS for Cars, TruckB, and
Tenders. CHILLED DRIVING-WHEELS and TIRES fOI
Locomotires. ROLLED and HAMMERED AXLES.
WHEELS AND AXLES FITTED COMPLETE.

Prices lower than other Manufacturers.

Gi:0. 1^ WOOD,

IRON AND RAILWAY BUSINESS.

steel and Iron Rails,

No. 19 WilUam St>, NEW YORK.

"Tailroad iron.

STEEIl

CAR

PUSHEE

MADE ENTIRaY OF STEEL

ONE MAN with it can easily
move a loaded car.

Manufactured by E. P. DWISHT,

DSAI^EB IN BaILBOAB SVVrhOB,

407 UBRAEY ST.,

NO PAYMENT REQUERED UNTIL

TUBES ARE TESTED AND

SATISFACTORY.

N. B.— Send for Stock L.lst.

I COTTeW-SEEI> HULLS ^

For Fackiiig Journal Boxes of Cars,

i .National Railwat Patemt Waste Co.
240 Broadway, N»w York.

The undersigned, agents for the manufacturers, art
prepared to contract to dolivsr best quality American
or "Welsh Steel or Iron Hails, and of any required
weight and pattern. Also Speigel and Ferro Manganese.

PEKMinrs A CHOATE, :
a3 Wa«»«n Sireet, WBW YORK.

First-Class Engrlish

IROIVAJVD 8TEEL RAILS

AT LONDON PRICES. F. O. B.

We also purchase all classes of Railroad Sacurltlei.
and negotiate loans for Railroad Companies.

Wn A. OVE*!$T & CO,

Nos. 41 and 43 Pine Street^ New York.

Safety Railroad Switches,

WITH MAIN TRACK UNBROKEN.

Railroad Crossings, Froorg, and Qthar
, Railroad Supplies.

MANUFACTITBED BY THE

WHARTON RAILROAD SWITCH CO.,

"^ • " PHIIiADEIiFTTTA. ^ '

Works : 93d and Washington Ave.
Olllee: US Soutb 3d Street.

PV:

steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures.

! SCOOND QUABTO SERIES.— YOL. XXXVIII.. NO. i.]

NEW YORK, JANUARY 28, 1882.

[Whole No. 2,388.— Voi.. LV.

Railroad Sanitation.

(Read at the Savannah meeting of the American Public

Health Association, 1881.] By S. 8. Hebbick, M. D.,

Secretary of the Louisiana State Board of Health.

A. — Its Objects.
The following are conceived to be appropri-
ate objects for a i-ailway sanitary system :

1. A surgical and medical service, designed
for the relief of sufferers (passengers and em-
ployees) from the casualties of travel upon the
lines, for affording medical attendance in ordi-
nary diseases contracted by employees, and for
superintending their personal hygiene.

2. Physical examination of those engaged in
the movement of trains, with reference to de-
fects of sight and hearing, and diseases of the
heart, lungs and great blood vessels, as a pre-
requisite to their employment.

3. Inspection of the sanitary condition of
passenger coaches, of grounds and buildings,
and recommendation of improvements wher-
ever needed. As occasion presents, counsel in
the selection of sites and in the construction
of works and buildings.

4. A meteorological service affiliated, if prac-
ticable, with the National Signal Service.

5. To guard against danger of infecting rail-
road coaches, stock and goods cars, by trans-
portation of diseased persons or animals, or of
infected personal baggage or merchandise ;
against danger of conveying contagion from
one point to others, and against injury to stock
in transitu from overcrowding, long confinement
and deprivation of food and water.

6. To confer with national, state and local
sanitary authorities, with the view of obviating
or moderating restrictions on travel and traffic;
and to represent the company in sanitary and
quarantine consultations, wherever its interests
may be affected.

B. — Its Advantages.
1. Kelief to the victims of railway accidents
is generally recognized by the managers as a
measure of policy as well as justice, and many
of the most important companies have arrange-
ments for carrying out this purpose. It is hard-
1 ly necessary to say that the whole relief service
of a CDmpany should be under the superintend-
ence of a single medical head, for the purpose
of securing uniformity and efficiency of action,
and economy in cost.

There is good reason to believe that a system
of medical attendance upon employes could be
80 organized and administered as to conduce
materially to the advantage of both the men

and the corporations employing them.* The
merchant marine of the United States has a
system, for many years in successful operation,
which is of incalcuable benefit to mariners and
is self-supporting, from a tax of forty cents per
month upon all who are entitled to its benefits.
Thr-s is a model worthy of imitation. ,

It is undeniable that the efficiency of men
in any organization is in direct relation to con-
tinuity of action. Interruptions by sickness
are among the most common and the most se-
rious disturbing causes. To reduce these to a
minimum and to secure with the least possible
delay the return of trained employes to their
familiar duties, is an object of great import-
ance. The certainity of having medical relief
within reach at all times would operate power-
fully in producing contentment and regular
continuance in their occupations.

In large cities, established general hospital
would be available for this kind of relief, as
well as for the surgical casualties before men-
tioned ; but the individuals there treated "for
railroad companies should be under super
vision of their own medical officers, to pre-
vent nbuse of privilege and secure the best at-
tendance. At other points suitable infirmaries
should be established and placed in charge of
local practitioners, employed bj' special con-
tract for specified duties. These would be con-
veniently located at the termini of roads and
at the intermediate points where work-shops
are situated and the crews of trains reside. No
compulsory hospital fee need be imposed, for
the advantages of the system would be ample
inducement for its voluntary adoption by the
men, and it would naturally be extended so as
to include their families in its scope and give
them attendance at home.

But we must not lose sight of prevention,
which is proverbially of manifold value above
the cure of disease. The single example of
malaria, so prevalent throughout the greater
part of our country, so mighty a destroyer of
life and so potent a disturber of man's indus-
tries, affords a boundless scope for the exercise
of personal prophylaxis under medical super-
vision. The crews of night trains sis^ especial-
ly liable to malarial affections, whic4 might be
mostly prevented by suitable regulations, in-
cluding the proper preventive remedies.

It is obvii JUS indeed that precautionary meas-
ures, under medical superintendence, could

* a newspaper paragraph recently announced the
projected establishment of a hospital at Aurora, 111., by
the Chicago, Burlington and Quincy Bailroad Company.

advantageously be used to guard men against
the whole list of preventable diseases. Besides,
there would be great gain in early treatment of
ordinary ailments, which would be encouraged
by placing facilities within reach of all.

The medical adviser would also, as far as
practicable, secure men, while on the route,
against prolonged fasting and deprivation of
sleep, against unnecessary exposure to cold and
storm, and secure for them wholesome food
and water.*

It might be supposed that the instinct of self
preservation on the part of men, aided by the
good sense of managers, would clearly lead to
suitable hygienic measures ; but the same sup-
position applies to people of all classes and oc-
cupations, while sanitarians are convinced that
at least half of the ailments of mankind in civ-
ilized life are strictly preventable. It is gener-
ally agreed that private individuals and corpor-
ations are more successful than government in
the execution of important works with dispatch
and economy ; but the government shows more
wisdom in caring for the lives and health of its
servants, both in curing and in preventing dis-
ease, j j

2. "We have just seen that neither employes
nor employers recognize the value of personal
hygiene for the avoidance of preventable dis-
eases; but it might rationally be supposed that
the former would not willingly risk their lives,
nor the latter the lives and property of their
patrons, as well as their own property-, on rail-
road trains with blind men in chaise. Yet this
risk is actually run, and we know not how often,
on most of the railroads in this country. Ob-
servation has proved that about 4 per cert of
men are incapable of distinguishing between
the colors used for signals ; f and a still larger
proportion cannot recognize objects far enough
to stop a train in time to escape danger. Under
certain circumstances these men are practically
blind, and occasions come when disaster en-

sues.

\-:-

* It is not unusual, during a busy season, for the
crews of freight trains to be kept on duty for 36 hours
or more, without opportunity for sleep. This is not
only a «Tong to the men, but it endangers trains very
seriously. I have the recent testimony of an intelligent
engineer, that he had lighted a cigarette to keep him-
self awake at his protracted task and woke to find his
clothing on fire from the cigarette which dropped fipom
his lips while he was overcome by sleep. i

t It is known that color-blind men may distinguish
between colored lights by their intensity; but with a
light burning low, and in storm or oust, they must

. ',.. jr^L ^yL-tSiji^si

i V

■•- -V T f-i -\^~.'< :.^^^^;f>^^^^j.- .'

■:• ■ "t;-T»-^»:-,'^^ 71 wv» ^^^TT

\Tf!^'^f^^^^fi^^^^A-^-?^^T^^^-'-^^^

AMERICAN RAILROAD JOURNAL.

It is hardly necessary to mention here that
an Act of Congress requires all pilots of steam
vessels carrying the American flag at sea and
those navigating the waters of the U. S., to
pass an examination testing their color sense
and visual acuteness ; and that the legislatures
of Connecticut and Massachusetts have made
the same requirement of railroad engineers,
firemen, conductors and signal men. It is
probable that similar provisions will be enact-
ed in other States at no distant day, unless
railroad companies forestall action by volunta-
rj' adoption of an efficient system carried out
by their own medical officers. Indeed, there is
good evidence that this will gradually or rap-
idly become an established fact upon the most
important roads, since it has already gone into
effect upon a number ; for instance, the Penn.
R. R. and others leading out of Philadelphia,
the III. Central, etc.

The Board of R. R. Commissioners in Mas-
sachusetts reported, in 1880, that such exami-
nations are practiced generally on the railroads
of England, France, Germany, Italy and Swe-
den, although not required by law ; while they
are so required in Holland. It thus appears
that the railroad companies in the most en-
lightened countries of Europe have rendered
legislation on this subject unnecessary.

At the present time the most important ques-
tion at issue is, whether these exivminations
may be made by laymen, officers of the com-
panies, or whether they should be made exclu-
sively by medical men or experts. The Mas-
sachusetts R. R. Commissioners hold that the
former are competent, but this is controverted
by the experts appointed by the Connecticut
Board of Health to enforce the lesislative act
of that State. Thus Professor W. H. Carmalt,
of Yale College, one of the examiners for Con-
necticut, testifies that experience has taught
him his former error in supposing that laymen
might make the examinations. He found that
the reports of railroad superintendents and
others who had made examinations were often
incorrect, the tests being applied either super-
ficially or in ignorance of the subject : for in-
stance, they failed to distinguish between true
color blindness (a fatal defect) and color stu-
pidity (simple ignorance of the names of col-
ors). Besides, cataract, in any degree, is a
fatal defect, but one which a layman is incom-
petent to detect in an early stage. In short, a
medical examination is needed for the protec
tion of the men as well as the public.

Again, men occupying positions vital to the
safety of railroad trains might suddenly be
stricken down at the post of duty through some
organic defect of the heart, or aneurism of a
large artery, or pulmonary hemorrhjige, which
•would surely be anticipated by a careful medi-
cal examination, but not otherwise.

Deafness, too, would be a disqualification,
but a layman should not be expected nor re-
qnired to define the boundary between admis-
sion and rejection or to apply the tests.

It appears, from the testimony of Prof. Car-
malt, that the principal of natural selection
soon eliminates railroad engineers laboring
tinder serious visual defects, for out of seven
rejected by him for color blindness he found
only one who was over 32 years old. The aver-

age age was 26J years. These, like their elder
confreres, would be eventually condemned as
incorrigibly unlucky, but perhaps at frightful
cost of life and property. •

Another important consideration is, that ac-
cidents traceable to such physical defects of
employes as could be detected by medical ex-
amination would certainly place the company
at fault and responsible for damages to person
and property; while, on the other hand, the ab-
sence of such defects would go far in exoneration
frqm such responsibility'. Morever, in case
palpable physical defects be proved, claim for
exemplary damages would be made, and prob-
ably allowed.

• (To be continued.)

I 1 ■ ^

PERSONAIi.

Waltek Shanly, late manager of the St, Law-
rence and Ottawa, has been appointed chief
engineer of the Canada Atlantic Railway.

John W. Smith has been appointed general
superintendent of the St. Louis, Keokuk and
Northwestern Railway, with office at Keokuk.

Albert Fostee has been appointed secretary
to the receivers for the Philadelphia and Read-
ing Railroad Company, and F. B. Kaercher for
the Coal and Iron Company.

Mk. George C. Wilkens, superintendent of
the Baltimore Division of the Northern Cen-
tral Railway, was appointed receiver of the
Washington and Alexandria Railroad.

The East Pennsylvania, East Mahanoy,
Reading and Columbia, and Chester an I Dela-
ware River railroads, operated by the Reading
Railroad, elected officers on the 23d inst. G. A.
NicOlls, of Reading, Penn., was elected presi-
dent pf each.

P. A. Blanchard, brother of vice-president
Blanchard, of the New York, Lake Erie and
Western Railway, and for a number of years
assistant freight agent for the Erie in New York
City, has been appointed foreign freight agent
for that road for Boston and its vicinity.

The American Society of Civil Engineers has
received from Brazil an album of photographs
handsomely bound, and having on the cover
the following inscription : "The Engineers'
Club of Rio de Janeiro, to the American Society
of Civil Engineers, in memory of their common
associate, William Milnor Roberts : pictures of
the Dom Pedro Sequendo Railroad, the last
road he traveled."

The American Society of Civil Engineers
held its annual meeting in this city on the 18th
inst. The society now numbers 605 members.
During the fiscal year which ended on the 3d
of December, 1881, the demands on the society
for engineers far exceeded the number of mem-
bers open to engagements. It was decided to
hold the next convention at Washington. Ash-
bel Welch, of Lambertville, N. J., was re-elected
president for the ensuing year, and J. B. Eads,
of St. Louis, and Wm. H. Paine, of Brooklyn,
vice-presidents.

The Receivers of the Philadelphia and Read-
ing Edilroad Company have authorized the pay-
ment, on and after Feb. 10, of the*interest on
the general mortgage bonds due last July and
amounting to about f 6J(»,000.

The Use of the Xjemon.

As a writer in the London " Lancet" remarks,
few people know the value of lemon juice. A
piece of lemon bound upon a com will cure it
in a few days; it should be renewed night and
morning. A free use of lemon juice and sugar
will always relieve a cough. Most people feel
poorly in the spring, but if they would eat a
lemon before breakfast every day for a week —
with or without sugar, as they like — they would
find it better than any medicine.

Lemon juice used according to this receipt
will sometimes cure consumption: put a dozen
lemons into cold water and slowly bring to a
boil ; boil slowlj' until the lemons are soft, but
not too soft, then squeeze until all the juice is
extracted, add sugar to your taste, and drink.
If they cause pain, or loosen the bowels too
much, lessen the quantity and use only five or
six a day until you are better, and then begin
again with a dozen a day. After using five or
six dozen, the patient will begin to gain flesh
and enjoy food. Hold on to the lemons, and
still use them very freely several weeks more.

Another use of lemons is for a refreshing
drink in the summer, or in sickness at any
time. Prepare as directed above, and add
water and sugar. But in order to have this
keep well, after boiling the lemons, squeeze
them and strain carefully ; then to every half
pint of juice add one pound of loaf or crushed
sugar, boil and stir a few minutes more until
the sugar is dissolved, skim carefully, and bot-
tle. You will get more juice from the lemons
by boiling them, and the preparation keeps
better.

Rest Awhile.

Come apart and rest awhile, men of business;
believe me, there is no^ and then a profitable
venture in doing nothing at all. In the power
to put business aside, and abiding now and
then in a perfect quiet, things sometimes solve
themselves, when we give them that advantage,

which refuse to come clear for all trying. We
all know how, by simply taking some perplex-
ity into the deepest silence this side of death
—a good night's sleep— we can do better some-
times than if we sat up and wrought at a task
all night. When Matthew Murray of Leeds
wanted to see his way through some sore per-
plexity in his inventions, and all other efforts
were of no use, he rested day and night from
all noise, and all effort, except the effort an ac-
tive man has to keep himself quiet ; and then
the thing he wanted would steal in and look at
him, and light on him, and stay as birds used
to light on the old hermits, no more afraid of
them than of the trees under which they sat.

The following recipe is said to produce a
good brown tone upon brass : The article, after
having been thoroughly cleansed atd freed
from all traces of grease, then polished, is dip-
ped for about half a minute in a cold solution
of 10 grams of hypomanganate of potash, 50
grs. green vitriol, 5 grs. muriatic acid, and 1
litre water ; then rinse well and dry in fine soft
sawdust. If a reddish cast is desired, dip the
article into a second bath heated to 60 degs. C,
of 10 grs. chromic acid, 10 grs. chloric acid, 10
grs. hypomanganate of potash, and 50 grs. blue
vitriol (sulphate of copper) dissolved in 1 litre
water. The latter mixture alone produces a
light bronze. The article may afterward be
heated in an oven, which operation, it is said,
produces a very rich tone.

AMERICAN RAILROAD JOURNAL.

■:te

■JB

ifmff EtUIUMDim.

PXTBLISHED WEEKLY BY THE

AMERICAN" RAILROAD JOURNAL CO.,
At 23 Liberty Street, New York.

Subscription, pftr anniim, in advance 56 00

Foreign Subscription, including postage 6 00

Purchases for the Amkbican Ratlboad Jouknal Co. are
anthorized only by the written order of Geo. F. Swain,
Treasurer; and I he Company will not be responsible for
the payment of bills unless accompanied by such order.

Subscribers are requested to report to our office any
irregularity in receiving the Joornal.

CoQtributed articles relating to Railroad matters gen-
erally. Mining interests, Banking and Financial items,
Agricultural development, and Manufacturing news, by
those who are familiar with these subjects, are especial-
ly desired.

Payments for advertising and subscriptions should be
made by check payable to order of the Treasurer.

BRANCH OFFICE:
53 Devonshire St., Boston, Klass.

Mr. Fredebic Ai/jab, Nos. 11 and 12 Clements Lane,
Lombard Street, London, E. C, England, is the author-
ized European Agent for the Joubnal.

New York, Saturday, January 28, 1882.

Entered at the Post Office at New York City at Second-Class
Mail Matter.

CONSOLIDATION IN THE SOUTH-
../ WEST.

flMl^ event of the we^k in railroad nnd
J- financial circles was the purchase by
Mr. U. P. Huntington and Mr. Jay
Gould, jointly, of a controlling interest in
the St. Louis and San Francisco Railway
Company, ihe announcement of which
was made on Wednesday, creating a de-
cided sensation on Wall street. In July,
1866, the Atlantic and Pacific Railroad
Company was chartered hy act of Con-
gress to build a road from Springfield, 111.,
by way of Albuquerque, over what is
known as the 35th parallel route to the
Pacific coast. The St. Louis and San
Francisco company was organized in
1876 and has been interested with the
Atchiso!!, Topeka and Santa Fe company
during the past two years pushing the
construction of the 35th parallel line
Westward from Albuquerque. Of late
there has been considerable discussion
and planning among the officers of the
Southern Pacific, and of the companies
interested in buildins: the new line, con-
cerning an arrangement for stopping the
construction of the latter and makinir in-
stead a connection with tlie Southern
Pacific near the Ctilorado River. One-half
of the 8t<^k of the Atlantic and Pacific
company is owned by the St. Louis and
San Francisco company, and the other
half by the Atchison, Topeka and Santa
Fe.

The purchase of a controlling interest
in the St. Louis and San Francisco com-

pany by Mr. Gould, representing the
Missouri Pacific, and Mr. Huntington,
representing the Southern Pacific, opens
the way for working in harmony the
Atchison, Topeka and Santa Fe and the
two roads most directly afi'ected by the
construction of the rival line, as originally
proposed. The details of the transaction
are not made known in full as yet, though
the stock, bought through the banking
house of J. & W. Seligman & Co., is
said to have been of the threi^ kinds,
common, preferi-ed and first preferred,
and at the market rates for stock of the
lower issues on the day of the sale, the
purcha.se of a majority wouldi indicate a
transaction amounting perhaps to about
$6,000,000. It is said that under this
combination the Atlantic and Pacific Rail-
road will probably be e.xtended to the
border of California, and then connect
with the Soutnern Pacific, about 250
miles remaining to be built to effect the
connection at the Colorado River. •

WHO IS RESPONSIBIiE ?

OOME time ago a lady called upon one
*^ of the famous portrait paintei*s of
Boston, to have her portrait painted. He
gave her his terms to wliich she agreed
and the time was arranged for her sit-
tings. She went regularly, and for the
firstj three sittings was very attentive to
the wishes of the artist and he had stronjr
hopes of making a picture worthy of his
high reputation. At the fourth sitting,
however, she began to criticise his work
and make suggestions. At the remaining
sittings she not jdone criticised and m«de
suggestions, but luid one or more friends
with her who claimed and exercised the
same privilege. The artist being a man
of great good sense, recognized the fact
that he was employed by the lady, and
wag taking her money; and consequently
she had a right to dictate her wishes in
the matter, and so long as he remained in
her employ he must obey.

It is a well defined maxim in business
that the one who pays the money has
the right to dictate to the employee, and
the employee has no right to take the
money unless he is willing to obey.
This artist rigidly observed the sugges-
ions of this lady and her friends, and the
portrait was finished accordingly. At
last it was finished and sent home. The
lady and her friends were satisfied and
the bill was pjiid. Some time afterwards
a visitor, being shown the picture, noticed
that the artist's name did not appear any

where, and called the attention of the lady
to this fact. This was a very serious
omission as the reputation of the artist
was such that his name was deemed
needful to give character and value to
the portrait. She therefore called at his
studio, and informed him of the omission,
at the same time requesting him to call
at the house and place his name on the
portrait, that people might know that it
was his work. In the most polite manner,
he reminded the lady that he had painted
the portrait according to the suggestions
of hereelf and her friends. He had not
painted the portrait according to his own
ideas. If he had done so he would gladly
place his name on it, for then it would be
his picture; but as he had painted it
according to their suggestions it was not
his picture but theii"8, and he had ao right
to claim any honor attending it, and he
certainly should not take any share of the
disgrace, if any. He would cheerfully
p.'iint the names of the ladies whose sug-
gestions he followed, on it, because it was
really their work, but he would not paint
his own on, because it was not his work.
The above incident, taken from the
actual experience of a portrait painter,
simply illustrates the pos'tion in which
many men are placed. A man is made a
superior officer of some railway. He
makes the road his special study. The
cars are lighted with candles or oil
lamps. He knows that in case of an
accident, it is a very easy matter for the
light fancy-work in the cars to ignite
from the upsetting of the lamp or the ba-
ing brought in contact with the lighted
candle. The cars are heated by either
wood or coal stoves, which an accident
may easily convert into a medium of
total destruction of the car. No need of
probable loss of life to enter into the cal-
culation. It is quite sufficient for him to
tjike into account only the proper care of
property of which he has charge. He
therefore wishes to adopt the safest way
of lighting and heating cars, and is met
by Suggestions so forcibly put that they
become objections. The parties making
these objections have the power to retain
or remove this officer, and because of this
he is obliged to do as they suggest and
not as his iud^jment dictates. For vears
the trains run back and forth and no ac-
cident occurs. The directors and stock-
holders are very much pleased with semi-
antjual dividends. The officer is retained
because he has followed suggestions, but

^'f^J?''f?W^prr?*'^^'?'^FT^*^»T'5T^'''Tv"^r^^

AMERICAN RAILROAD JOURNAL.

all the time has ranklins: in his breast
that he is not allowed to act accordinii: to
his best judgment, and that some day,
for no fault of his, he will stand before
the woild a condemned man. That d:iy
comes at last. The years of safety have
come to an end, for two trains have
collided, and in addition to the wreck of
locomotives and cars, fire has been added
by the upsetting of stoves and lamps, :ind
wiiat might have been saved from the
wreck is quickly devoured by it, and a
number of persons are roasted to death.
The pupers spread the ne\\'» before the
community, and write editorials on th?
management. The officer appointed to
superintend may read some romnrks re-
fiectin"' on his manasrement. But is il
his managuineiit, or the management of
others, to which his name is affixed ?
Now^the portrait painter informed the
ladies who meddled with his work that
they might put their names to it as tiieir
work, but he would not put his because
he was merely the instrument in their
hands. j

Why not have this plan adopted in
railn)tid mantigement ? If influential par-
ties interfere with the man who is hired
and supposed to know his business, let
them do it with the knowledge that their
names take the responsibility. Within a
few davs a notable accident has occurred
on one of our largrest railwavs. What
the collision failed to do, fire accom-
plished. Valuable cars were consumed
by it, and far more valuable lives were
ended. !

Who is to blame ? It is an easy mat-
ter, as some of the officers and newspapers
are doing, to place the blame on tlie
brakeman of the express train for not
going the proper distance to signal the
approaching train. We do not propose
to question the subject of his culpability
in the matter, but to the editors of this
paper, it seems very strange that a man
of such small wages can be so responsible.

We have a printer's devil, and when an
accident occurs in our office so as to
prevent the subscribers receiving tiieir
paper on time, we have as much right to
hold him responsible as a railroad man-
agement has to hold responsible for an
accident, one of its lowest grade and
poorest paid officials. We claim that the
responsibility rests higher than these
subordinate officers. It rests with those
M'hose authority is such that they are
able to have la use ou the road all the

appliances necessary for safety. If on
the road in question the block s^'stenj had
been in u.se there would liave been no
collision. If the cars had been heated
and lighted on the latest and most ap-
proved plan, there would not have been
the roasting of many persons to death.
The brakeman is not responsible fur
these things. Let those who are, place
their names to the picture, but do not
ask the poor brak«man to place his.

INCORPORATION.

The Metropolitan Kail way Company of Ham-
ilton county, Ohio, has been incorporated with
a capital of $1,000,000.

The North Cook County Elevateil Railway
Company of CJiicago has been incorporated.
Capital stock $1,000,000. The incorporators
are : Eugene B. Payne, Edgar A. Fellows and
Eugene J. Fellows ; also the South Cook Coun-
ty Elevated Railway Company ; capital stock
81,000,000. Incorporators : William W. Riley,
Frank A. Bartholomew, and H. A. Edwards.

A CERTIFICATE of incorporation has been filed
at Columbus, Ohio, of the Chicago and Hocking
Valley Railroad Company ; capital stock S20,-
000,000. This is understood to be a consolida-
tion of the Springfield Northern and the Day-
ton and Hocking Valley schemes. The former,
as contemplated, is a line from Springfield to
Fort Wayne. The two lines come together at
Clifton, 3 miles from Springfield.

Articles of incorporation have been filed
with the Secretary of State of Illinois, of the
Peoria and Illinois River Shore Line Railway
Company ; capital, $100,000, The proposed
road will run from the North line of Peoria
township to the South line of HoUis township,
both in Peoria county. The principal office
is to be in Peoria, and the corporators are :
Gardner T. Barker, Edward S. Easton, Adolph
Wonlner, James W. Johnson, Jacob Schwabac-
her, John H. Francis, all of Peoria.

Articles of association of the St. Louis and
Carondelet Railway Company have been filed
with the Secretary of State of Missouri, capital,
$500,000. The length of the main line is to be
about 11 miles ; the length of the branch road
is to be about 4 miles, making a total of about
15 miles. The road is to be broad-gauge. The
incorporators are to be Edward F. Winslow,
Jesse Seligman and James D. Fish of New
York ; C. W. Rogers, James Dunn, A. C. Doug-
las and John O'Day of St. Louis.

A CEBTIFICA.TE of incorporation has been filed
with the Secretary of State of Ohio, of the
Spring Street and Mt. Vernon Avenue Street
Railway Company of Columbus. The incor-
porators are Jesse W. Dunn, Colonel Orland
Smith, R. C. Hoffman, G. C. Hoover, Wm. Fel-
ton and E. L. DeWitt. The proposed line com-
mences at the intersection of Dennison avenue
and Spring street, and extends thence to the
corporation line. The capital stock of said
company is to be $30,000 and the number of
shares GOO.

Articles of incorporation of the St. Louis
and Lake Eiie Railroad Company were filed in

the office of the Secretary of State of Illinois on
the 23d inst. The capital stock of the company
is $3,000,000, and it is proposed to construct
a railioad from East St. Louis to connect with
the Indianapolis, Decatur and Springfield Rail-
way at a point near the East line of Mason
county. The names and places of residence of
the board of directors are : Geo. E. Leighton
and J. Rogers Maxwell, New York ; Benj. S.
Henning, Brooklyn ; and Edward F. Leonard
and John W. Bunn, of Springfield, 111. The
principal office of the company will be at East
St. Louis. j

Articles of incorporation of the Shawnee-
town and Paducah Railroad Company were
filed in the office of the Secretary of State of
Illinois, on the 18th inst. It is proposed to
construct a road from Shawneetown to a point
on the West bank of the Ohio river, opposite,
or nearly opposite, the city of Paducah, Ky.,
with a branch road to tie city of Metropolis,
and also a branch to Eldorado. The principal
business office is to be at Shawneetown, 111.
The capital stock is $1,500,000. The directors
are : Richard W. Townshend, Shawneetown ;
Marshall M. Pool, Shawneetown ; Fred H. Sel-
lers, Bowlesville ; Blnford Wilson, Springfield;
W. P. Sloan, Golconda ; I. M. Biggers, Padu-
cah ; Joseph W. Thompson, Paducah ; Edward
F. Winslow, New York ; James H. Wilson,
Boston ; John C. Bocker, Golconda ; E. F.
Leonard, Springfield. 1 :

CONSTRUCTION.

It is said in Durban that an American com-
pany has proposed to construct a railway from
Delagoa Bay.

It has been decided to extend the Jackson-
ville and Southeastern Railroad from Litch-
field, Ills., to Centralia. • 1

The Chicago, Milwaukee and St. Paul Rail-
way has reached Perry, Iowa, 137 miles from
Marion, on the Council Bluffs Division.

The Jefferson City and Little Rock is com-
pleted for a distance of 25 miles, and the grad-
ing is nearly finished to the Osage River.

The Mexican National Railway is now oper-
ating regular passenger trains 25 miles west of
Laredo, and track is laid several miles beyond.

A CONTRACT has been signed for the exten-
sion of the Houston and Texas Central Railway
to a connection with the St. Louis and San
Francisco road.

Messrs. Hobart, Green & Co., have the
award for the construction of the Atlantic and
Pacific Railroad from Vinita to the Arkansas
River, a distance of 50 miles.

Messrs. McMillan, proprietors of the Prince
Edward Railway, have entered into a contract
with a Pennsylvania iron company to deliver
45,000 tons of iron ore by December next.

The road-bed for the additional double track
which the Pennsylvania Railroad is building
between Philadelphia and New York is being
graded along the Northern outskirts of Philadel-
phia. ■ 1 ^^

The province of New Brunswick now has 984
miles of railway in operation, said to be a
greater mileage, in proportion to population,
than that of any other province, state, or coun-

AMERICAN RAILROAD JOURNAL.

■,-♦

try. New Brunswick has more miles of road
than Portugal, Denmark, or Norway, and
nearly as many as Holland, and more than
either New Hampshire, Connecticut, or Ver-
mont. There are eleven lines of road in the
province, the Chatham Branch, 9 miles in
lenf'th, being the shortest, and the Inter-colo-
nial, 343 miles, the longest.

T. B. Jones & Co., have the contract for four
miles of the Virginia Valley Railroad, near
Midway. Masons, Gooch & Hoge have 35 carts
and mules and 35 convicts on their Valley
Railroad work.

Thk double track on the Providence and
Worcester Railroad has been completed as far
as the signal between Plummets and Whitins,
where a ledge has been encountered which
makes the work go on slowly.

A MOVEMENT is OH foot to construct a railroad
between Port Jefiferson and Patchogue. The res-
idents along the proposed line have expressed
their willingness to give the right of way. The
cost of the labor is estimated at $5,000.

Toe first cable car in Chicago was run on the
South Side City Railway, on the 20th inst.
The cars of that line wi!l be regularly run by
the new process in a few days. The cable was
manufactured by Messrs. Poole & Hunt, of
Bjvltimore.

At a recent letting of the New Orleans and
Northeastern Railroad in Cincinnati, Dr. Alex-
ander W. Carpenter, formerly of Baltimore,
was awarded 12 miles of grading and trestling
in Mississippi ; also, together with J. H.. Tob-
ler, 13 miles on the same road in Louisiana.

A COLOSSAL railroad scheme has been projec-
ted in New Mexico, which contemplates the
construction of 18 railroads in that Territory,
all to be tributary to the Atchison, Topeka
and Santa Fe Railroad. The capital stock of
the company is $37,000,000, and^it is [claimed
that $14,555,800 has been subscribed.

A CORPS of engineers is at work surveying the
new locomotive railroad of the Pennsylvania
Coal Company, between Pittston and Hawley,
Pa. The new route will be 50 miles long, and
connect with the company's Lackawaxen branch
running between Hawley and Lackawaxen, and
leased by the New York, Lake Erie and West-
ern Railroad.

The Mexican Central Railway has reached a
point 43 miles from El Paso. The sand hills,
which were considered the most difficult part
of the route South, have been surmounted, and
the roari-bed has been completed for more than
one-third of the distance to Chihuahua. The
track is to be laid hereafter at the rate of two
miles per day.

The New York, West Shore and Buffalo Rail-
road is being built by the North River Con-
struction Company, of which Gen. E. F.
Winslow is president. The officers of the com-
pany are : Gen. Horace Porter, president ;
Chas. Baird, vice-president ; Chas. Paine, gen-
eral manager ; Walter Katte, engineer ; Alexan-
der Taylor, secretary. The road is to be built
from Weehawken to Buffalo, a distance 425
miles. Grading is now being done between
Weehawken and Syracuse, a distance of 280
miles. It will be a double track road the

whole distance. A 67 pound steel rail will be
used. It is expected that the road will be in
operation to Schenectady by the early fall.

ORGANIZATION.

The St. John's and Suwanee Railroad Com-
pany has been organized to build a railroad
from Melrose in Alachua county, Fla., through
Gainesville to the Suwanee River, near Fort
Fanning, a distance of sixty miles.

At the annual meeting of the Portland and
Ogdensburg Railway Company on the 17th inst.,
Samuel J. Anderson was elected president,
with the following directors : Horatio N. Jose,
Weston F. Miliken Jo.seph S. Richor, Joel
Eastman, James P. Botler, Roswell M. Rich-
ardson, WillardW. Thomas, Jr., Samuel Water-
house, and Francis Fessenden.

The grantees of the Laconia and Lake Vil-
lage (N. H.) Horse Railroad charter have or-
ganized with the choice of Albert G. Folsom.
president; W. L. Melcher, treasurer and J. P.
Hutchinson, clerk. The capital is fixed at
$10,000, with the right to increase it to $30,000.
The road will be two miles in length, and it is
expected that ground will be broken early in
the coming summer.

At the annual meeting of the shareholders of
the New York, Ontario and Western Railway
Company, held on the 18th inst., the following
persons were chosen directors for the ensuing
year : Edward F. Winslow, Horace Porter,
Charles F, Woerishoffer, Henry Villard, Henry
Amy, Frederick Butterfield, John L. Nisbet,
William Adams, Thomas C. Clark, Theodore
Houston, Conrad N. Jordan, George B. Greer
and Charles J. Cauda. . .

The ISIanhattan Storage and Warehouse Com-
pany, with a capital of $500,000, was organized
on the 21st inst., the following named gentle-
men being the incorporators: C. G. Francklyn,
C. M. Fry, A. Iselin, R. T. Wilson, J. M. Brad-
ley, W. H. Guion, W. Jay, A. P. Stokes, H. B.
Hyde, J. J. McCook, J. A. Stewart, J, H.
Rhoades, J. A. Bostwick, H. V. Newcomb, W.
R. Travers, S. B. Punch, M. Bayard Cutting,
R. B. Minturn, Fred. Sturges, C. D. Leverich,
M. B. Brown, W. A. Wheelodk, E. R. Bell, H.
A. Hurlburt, H. E. Hawley. The object of the
company is to erect absolutely tire-proof ware-
houses for the storage of merchandise and fur-
niture.

CONSOLIDATION.

The directors of the Louisville, Evansville
and St. Louis Railway Company of Illinois and
Indiana (formed by the consolidation of the
Louisville, New Albany and St. Louis and the
Evansville, Rockport and Eastern Railroads)
ar<j : Jonas B. French, F. B. White, Wm. J.
Hart, James Wilson, of Springfield, 111., Ed-
ward Cummings of Covington, Ky., Bennett H.
Young, of Louisville, Ky., H. B. Housen of
Saratoga, N. Y., Wm. Heilman and W. F. Nes-
bitt of Evansville, Ind. The officers are : John
Goldtwaite, Boston, president; St. John Boyle,
Louisville, vice president. John Lyman of New
Albany, secretary; and George F. Evans of Bos-
ton, treasurer. The party of the first part has
authority to build a road from New Albany, Ind. ,
to Mt. Vernon, 111. The party of the second part

authority to construct a line from Evansville to
Jasper and other points, with a branch to Rock-
port, Ind. Both roads are partially built. The
capital stock is $6,000,000.

The Lehigh and Hud son and Warwick Val-
ley Railroad companies have bee n consolidated
under the name of the Lehigh and Hudson
Railroad Company. The directors of the con-
solidated company are : Grinnell Buit, presi-
dent of the Warwick Valley; George R. Blanch-
ard, vice president of the New York, Lake Erie
and Western ; D. B. Halstead, president Na-
tional Exchange Bank of New York ; Ex-Sen-
ator Thomas C. Piatt; W. C. Sheldon, banker,
of New York, John S. Martin, wholesale com-
mission merchant. New York ; John H. Seed,
wool-dealer. New Y'^ork; Garrett A. Hobart, pres-
ident of the New Jersey Senate; F. A. Potts, of
New Jersey; Richard Wisner and George W.
Sanford of Warwick, Orange Co. ; Charles Scran-
ton, of Oxford, N. J. ; and James B. Titman,

of Sparta, N. J. The officers are: Grinnell
Burt, president ; George R. Blanchard, vice
president : D. D. Halstead, treasurer, and
Thomas P. Fowler, secretarj'. The Warwick
Valley Railroad extends from Graycourt, on
the New York, Lake Erie and Western Railroad,
to McAfee, Sussex county, N. J., and the Le-
high and Hudson from the latter point to Bel-
videre, on the Delaware River. 1 he whole line,
which will be completed early in the spring s^o
that trains can run over its entire length, will
be 63 miles long. Regular trains will run over
the lower portion of it early in February.
Large stores of freight are now awaiting trans-
portation over the line. Along its line in Orange
county, New York, and Sussex and Warren
counties. New Jersev, there are numerous
mines, and the new road will ship an immense
tonnage of ore. The line passes through a
continuous mineral belt and a rich agricultural
district. The Warwick Valley part of it has
been doing for years the largest milk business
of any road of its length in the country.

Philadelphia and Reading Comparues.

The following is the comparative statement
of the Philadelphia and Reading Railroad Com-
pany and the Philadelphia and Reading Coal
and Iron Company for the month of December,
1881 and 1880 :

Profit /or montft.

1881. 1880.

Railroad traffic $834,454.67 $511,655.09

Canal traffic 8.666.66 18,040.62

Steam colliers 43.708.V!4 27,071.49

Richmond coal bargea 1,115.16 Lose iM>4.24

Total Railroad.Ck) $870.611. 31 «,619.692.72

Reading Coal & Iron Co 66,931 .23 20, 766 . 93

Total of aU.

TONNAGE A PASSENGERS.

Tons of coal on railroad

Tons of merchandise

Passengers carried

Coal transp by stm colliers . ,

TONS OF COAL BCINED.

By Coal and Iron Company .
By tenants

S937.542.54

Month.

760.344.17

586,9-21.17

926,608

47,034.13

. 383,839.08
. 129,503.10

Total mined 513,442.18

J540,456.65

Month.
518,231.03
436,211.03
751,316
41.990.06

209,223.09
112.071.07

321,294.16

The cancelled war debt and internal im-
provement bonds which have been redeemed
out of the proceeds of the four per cent loan
created by the refunding bill enacted by the
last legislature of Delaware amounted, on the
18th inst., to $772,000, viz: war bonds, $413,000;
Junction and Breakwater Railroad bonds, $220,-
000 ; Breakwater and Frankfort Railroad bonds,
$139,000. This leaves about $80,000 outstand-
ing which have not been presented for pay-
ment.

ii^ -A .%*=:- V.

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AMERICAN RAILROAD JOURNAL.

^- New York Stock Exchange.

V .^ (Thursday 'tr quotations follow money article.)
; 5' Clotittff Prices Jor the week ending Jan. 26.

<./' ' Th.l9.F.2f.Sat.2l.M. 23.TU.22.W.25.

>4dMa8 l^'ress 148 147 148

Albany and Susq.. 133

Ist mortgage

mortgage

93^

Uli

85
100

94>i 94 H

100

63^

84
118?i

107

88 ?i
114

24
82

American Express

Atlantic * Pac. Tel

Burl., C. R. & Nor 82 >i

Ist mortgage Ss.. 100 ...-.

Canada Southern . . 55^ 65 55
1st mortgage guar 96% 9&}i 95%

Central of N. Jersey 96>i 96>^

Ist mort. 1890

7s, consol. ass... 114% 114% 114%

7b. convertible ass

78. Income 104 ia3>^ 103 103%

Adjustment 109>J

Central Pacific 90% 90% 90% 87 >i

68, gold 114^4 114

1st M. (San Joaq) 108

- IstM. (Cal. & Or.)

Land grant 6a ... 106 23%

Chesapeake & Ohio. 25 25 24

Is, series B 82% 82 82^ 84% ....

Chicago and Alton 134 134 133% 131 >4 132%

Preferred

Ist mortgage

Sinking Fund 115

Chi,, Bur. & Quincy 137 136% 136% 135 134% 135%
78. Consol. 1903 126%

Chi.. Mil. k St. Paul 109 10S% 108% 106% 106% 108

Preferred 121%

1st mortgage, 8s

2d mort., 7 3-108

78, gold 123%

IstM. (La. C. dlT) 118 118% 118%

1st M. L & M. diT.)

Ist.M. (L & D. ext.) 120

lBtM.(H.&D.div.) ......

lstM.(C.&M.div.)

Consolidated S. F. 121% 120% 119%

Chi. & Northwestern 127% 126% 126% 125% 126% 128%

Preferred 139 138% 137% 139

1st mortgage 110%

Sinking Fund 6s

Consolidated 78.. 133 ..... 134%

Consol. Gold bo'ds 125

Do. reg

Chi., R. lel. & Pac. 133% 13:i% 133% 132% 132%

6s. 1917. c 126 125 126 125

CleT.,Col..Cin.*Ind 80 ^i 79% 80%

1st mortgage

Clev. & Pittsburg gr 137% 135 134%

7s. Consolidated

4th mortgage

Col..Chi..&Ind.Cent. 20% 20% 19% 19% 19% 19%

1st mortgage

2d mortgage

Del. k Hud Canal. I07>i 107 106% 106 106 106%

Beg. 78. 1891 . 113%

Beg. 78. 18«4 104 104

78. 1894 117%

Del. . Lack. & Western 125% 125 124% 123% 123 l24%

2d mortgage 7s

78. Consol. 1907

Erie Railway

1st mortgage

2d mort. 58, ext

, 3d mortgage •

4th mort. 5s. ext

Sth mortgage 112

78. Consol. gold 130 129%

Great West. 1st mort

2d mortgage

Hannibal* St. Jo.. 96% 96% 96% 95% 95%

Preferred 109% 108 108 107 107

88. Convertible 109

Houston & Tex. Cen 84

Ist mortgage Ill

2d mortgage

lUinois Central... 135% 135 V,' 135 133% 132% 134 '4
LakeShoreiMichSo 114% 114% 114% 112 111% 112%

Cunsol. 78

Consol. 78, reg

2d Consolidated

Leh. * W. B. 78, Con

Long Dock bonds

LouisviUe k Nash. 97% 96 95% 93% 93% 95
7s, Consolidated . 122%

ManhatUn 49% 50 50 62

M»t. Elevated 86% 87 87

l8t mortgage 100% 101% 100% 101 101

Michigan Central.. 88% 88% 87% 86% 85%

78, 1902 126

M. S. & N. List, «. F

Morns k Essex.... 122% 122 122% 122% 122

l8t mortgage

2d mortgage

78 of 1871

78,Cou>ertible

N.Y.Oen.&Hud,R. 134% H4% 1.33% 131% 130%

Hs.ri F. J«««i..,. 102% 103 103

6s. S. F.. 1887 110% no

1st mortgage 134%

1st mortgage, reg

N. Y. Elevated lOS 105

1st mortgage 116% 118%

N.Y.&Harlem

Preferred

1st mortgage

1st mortgage, reg

41% 41% 11% 40 40

82% -

»9%

96%

131'

134%

107
116%

82
99%

80
98%

80%
99

40%

80 H
99 J^

171 171 170 171

75
36

35%
74%

36%

34%

72%

34%

71%

72%

34%

il>i

115%
117%
41

40% 41% 41%

108%

109%

195
62%

62%

195

134 136 139

102

4
43%

57%

42%

67%
102%

69
102%

60
45%
64 '4
l02%

111

107%

83%

N. y.. Lake Erie* W

Preferred

2d Consolidated . .
New 2d 5ci fund . .

N.Y..N.Hav'n&Hart

North Mo. l8t mort 120%

Northern Pacific ... 36 %
I'relerred 74%

Ohio * Mississippi. 36%

Prelor «<l.

2d mortgage

Consolidated 7s

Consol. S. Fund

Pacific Mail S. S. Co 41%

Pacific R. R. of Mo

Ist mortgage 108%

2d mortgage .*.

Panama

Phila. & Reading.. 59% 53% 64%
Pitts.Ft.W.&Chi.gtd 134 ^i

Ist mortgage

2d mortgage

3d mortgage 130

Pullman Palace Car 144 142% 140

Quicksil'r Min'g Co 14 14

Preferred 62% 62

St. Louis & San Fran

Preferred

1st Preferred 102%

St. L.. Alfn&T. H

Preferred

Ist mortgage

2d rnort. pref 110 100

Income bonds ...,

St. L.. Iron Mt. &S

1st mortgage 118

2d mortgage 109 109

Toledo and Wabash

Ist mortgage

2d mortgage , . ...

7s. Consolidated.. 106 105

St. Louis Division

Cnion Pacific 119% 118% 118%'117% 116%

Ist mortgage 116 J^ 115% 115%

Land Grant 7s 113%

Sinking Fund 88

United States Ex 77 78 T8

Wabash. St. L.& Pac 36% 36% 36% 35 35

Preferred 69% 69 68% 66% 66%

New mort. 78 106

Wells-Fargo Ex 130% 129

Western Pacific b'ds 110,^

Western Union Tel. 82 81% 80% 79% 79% 80%
78..S.Fconv.,1900 118

Fedeb.\l Stocks : —

U. S. 48. 1907, reg 118% 118% ;....

U. S. 48, 1907, coup. 118% 118%

U. S. 4>^s. 1891, reg. 114% 115

U.S.4%8, 1891, coup 114%

U. S. 58, 1881, reg

U. S. 6s, cont'd at3% 102% 102% 102% lJJ% 102 J4

U. S. 66 cont'd at3 ;i 101

Dt. of Col. 3-658, reg

Dt. ofCol.3.658,coup

N.Y.& New England 61% 61% 60 59%

7s 117%

Northern N. H 109

Norwich* Worcester 155 ,.

Ogden k Lake Cham

Preferred

Old Colony 125 125% 125% 127

Ph.,Wil.&Balt.($50). 62%

Portl'd.Saco & Ports

Pueblo & Ark Val

78 116%

Pullman Palace Car 144 ^i 141 134 136 137

Union Pacific 118% 118 117

120% 120% 120

Land Grant 7s

Sinking Fund 8s. ..

Vermont & Canada

Vermont* Mass 134

Worcester & Nashua 58% • 58%

Cambridge (Horse)

Metropolitan(Hor8e) 77 77 76%

Middlesex (Horse)

Cal.&HeclaMin'gCo 243% 243 243%

Quincy 64% 53% 62% 61% 49% 62%

117% 117%

105

117%
115

36%
67%

123

55%

86
101

85%
121%

I Boston Stock Exchange.

j ' Price* for the Week Ending Jan. 25.

Th.l9. r.20. 8at.2l.M.23.Tu.24,
Atch..Top.&San.Fe. 95%' 94% 94% 93% 92

Ist mortgage 120

2d mortgage

Land Grant 7s 116% 116% 116%

Boston A; Albany... 166 165% 166 164

78 reg

Boston and Lowell 103 102

Boston* Maine 146% 145 145%

Boston* Providence 163 162

Bos'n,Hart.*Erie78 68 .... 66% 65%

Burl.* Mo.R.L.G.78

Burl.* Mo.R.in Neb

6s, exempt

W.25
91%

166

64%

103

162
65%

Philadelphia Stock Exchange.

Closing Prices for the Week Ending Jan. 25.

W.18. Th.l9. r.20.Sat.21.M.23.Tu.24

Allegh'y Val. 7 3-lUs 120 1201.

7s. Income 67

Camd'n* Am. 68. '83

68,1889

Mort. 68,1889.... 114 114 11.3%

Camden * Atlantic. 25

Preferred

1st mortgage

2d mortgage

Catawissa 18

Preferred 63%

7s, new ',,

Del. * Bound Brook

Elmira&Williamsp't

Preferred

Hunt. * B. Top Mt

Preferred 29% 28% 29

2d mortgage

Lehigh Navigation . 43 f^ 43 43 5^ 42% 42%

68,1884 105% 105% 105% 104%

Gold Loan Ill 111 m

Railroad Loan

Conv. Gold Loan 112%

Consol. Mort, 7s 117 116% 116%

Lehigh Valley 62% 62% 62% 62% GH^ 62%

l8t mort. 68, coup » 120

let mort. 68, reg

2d mort. 78 134 134

Consol mort. 68

Con8ol.mtg.6s,reg ... . 118

Little Schuylkill

Minehill*Sch.Hav'n 60 60 60

North Pennsylvania 00 601^ 60% 61 62%

1st mortgage 68

2d mortgage 7s

Genl. mtg.7s,coup

Genl. mtg. 7s, reg

Northern Central.
58

Northern Pacific.
Preferred -.

50%
96%

36%
"%
62^4'

60% 50%

36 Ji

74,%
62%

36%
75

62 \>i

35%

74 ^4

62%

irennsylvania R. R

1 si mortgage

i^cn'l mort 120%

Gen'l mort reg

Consol. mort. 68

Consol. mort. reg

Pa.State 6s 2d series

do SdserJes 100

do 58, new 116

do 3s.

35 34%

72 Ji 71%

61% 61%

117

125%

Chi.,Burl.& Quincy 137% 136% 137
78

136 134% 135

78, Con8ol.uated ntchburg 133

Cin.,Sand&Clev(|50) 27% 27% 26 26% 25

Concord ($50)

Connecticut River 165

Eastern :i6% 35% 34 35 34'i 34

New 4% Bonds 107% "...

134W

Phila. & Reading... 29% 30 31% 32% 31% 31%

1st mortgage 6s

7s of 1893

78, new convert

Consol. mort. 7s 125% ..

C0U80I. mort. reg ,

Gen'lmort. 6s 98% 98% 98% 98% 98^ 98%

Philadelphia * Erie 19

Ist mortgage 5s. . 105%

2d mortgage 7s... 114 114

Pittsb.,Cin.&St.L.7« 122% 123

Pitt8.,TitU8V.&Bufif. 20% 20% 20% 20% 19% 19%
78

Schuylkill Navit'n

Preferred

68.1872

08,1882 89 90 .... 89 r88%

United Co. of N.J. , 184 184% 184% 184% 184%

Hestonville, (Horse)

Cheetnut&Wal.(do)

I'lrueji *Coate8(do)

>•■-'-« i^iit'Wr^iiilii'iiifiifii'iT'i^i^i ■nlni•Mi■'-^ i i''iL&fMftTvtf'

AMERICAN RAILROAD JOURNAL.

'■\ ■

-, •■! '•■

123

105 Ji

58>4

125

105 1^
58>i

114 lU

Baltimore Stock Exchange.

Closing Prices for the Week Ending Jan. 17.

W. 18. Th.lO.F.20. Sat.21.M.23.Tu.24

Baltimore* Ohio.. 195 195>i

68.1880

68,1885

Cenlral Ohio ($50)

1st mortgage Ill

Marietta & Cincin'ti

Ist mortgage. 7s 123*^

2d mortgage, 78.. 105 >^' 105 ii 105 Ji lOSY,
3d mortgage, 83 59 58^ 68;^

Northern Can. ($50) 50Ji

2d mort., 68 1885

3d mort., 6s. 1900

6a, 1900, gold 114

68, 1904, gold

Orange & Alex. Ist

2d mortgage. 63

3d mortgage, 88

4th mortgage, 8s

0.,Al6x.&Manas'8 7s

Pitts.fc Connellsv.78

Virginia 6s, Consol. 63^ 63^4 63

Consol. coupons. . 71?^ C9»i 61?^ 63

10-40bonds 39}^ 40*^ 40

Defd Certificates 16 >i 16 >i 16>i

Western Maryland 14 Ji

1st M., end. by Bait , .... .....

Zd AX.. QO . •••.. ..*•• .•••• .'a...*.. ^^ .

Od ill ., do . ....a » » . • 3 ...a. .a......*^.)!..

1st M.,unendors'd t.'I. .«...

2dM.,end.WashCo

2d M.. preferred .;. 106>i

City Passenger B B .i... ....'^

633^

65
63 Ji
43

London Stock Exchange.

Dec.

Baltimore k Ohio (sterling) 114

Cairo k Viencennes com. stock 36
Do. preferred 5 per cant ..... 90

Central of N. J. $100 share 93

Do. Cons. Mortgage .-...115

Do. Adjustment Bonds 104

Do. Income Bonds 104

Det. ,G'd Haven & Mil. Equip bdsll2
Do.Con.M.5p.c.,tiir83aft'r6p.cll0

Illinois Central ^100 shares 134 >i

Lehigh Valley Cons, mortgage.. 115

Louisville k Nashville mort 6s. 105
Do. Sink. Fund bds /S.&N.Ala)103
Do. cipital stock ?100 shares. 105

N. Y. Cent. & Hud. B. mt. bds. .134

Do. .«100 shares 135

Do mort. bonds (stg.) 123

N.Y..Lake Erie k West., $100 shs 42 'i
Do. 6 p. c. pref. $100 shares . . 87
Do. 1st Con. Mort. bds (Erie) .131
Do. do. Funded Coupon bds. 127
Do. 2d Consol Mort. bonds. . .102
Do. do. Funded Coupon bds. . 97
Do. Gold Income bonds 95

N.Y.,Pa.& Ohio 1st mort. bonds. 50
Do. Prior Lien bds (sterling).. 104

Pennsylvania, $.50 shares 6J

Do. Con. Sink Fund Mort 119

Philadelphia k Beading $50 shs 35

General Consol Mortgage 116

Do. Improvement Mortgage. .103
Do.Gen.Mtg.'74,ex-d««rdcoup. '.'91^
Do. Scrip for the 6 def. >^ coup. 95

Pittsb., Ft. W. k Chi. Eq. bds... .105

St. L. Bridge 1st mort. gold b'd.l26
Do. Ist pref. stock 102

Union Pa. Land Grant 1st. mtg.115

?lo8ing Prices .

30
116

98
117
109
107
114
112
135 Ji
119
107
105
107
137
136
125

89
13J
129
104
100
100

51
108

61
121

36
118
105
100 >i
100
109
128
104
119

Jan
114

93
115
104
1(14
112

132
115
105
103
103
134
132
120

84
131
127
100

45
104

62
118

32
116
103
100

92
105
126
102
115

6.
116

98
117
109
107
114
112
133
119
107
105
105
137
134
122

86
133
129
102
100
100

46
108

63
122

33 >i
118
105
101

97
109
128
104
119

AMERICAN RAILROAD JOURNAL.

Financial and Commercial Review.

Thursday Evening, Jan. 26, 1882a
The rate for call loans on stocks during the
forenoon was 4@5 per cent, and on United
States bonds 2@3 per cent. Time money on
stocks was loaned for four months at 5 per
cent Prime mercantile paper was 5@5i per
cent. In the afternoon the rate was 4 per
cent, but in the last hour fell to 3 per cent,
and at the close stood at 3 J per cent.

In the foreign exchange market, short ex-
change was about steady at 4.88i@.489, while
long drafts were rather heavy at 4.83|@4.84},
the preferred rates of the prime drawers being
4.85 and 5.89J. Cable transfers are 4.89jr^
4.90. and prime commercial bills 4.82@V- The
market for continental bills is firm, with actual

rates as follows : francs, 5.13|@,5.14| and
5.19f@5.20 ; marks, 94|@| and 95|@| and
guilders, 40 and 40 1.

At the special meeting of the stockholders and
directors of the Chicago and Grand Trunk Rail-
road Co., held in Chicago on the 18th inst.,
it was decided to prepare a second mortgage of
$6,000,000, secured by bonds running forty
years, with interest at 5 per cent per annum,
payable semi-annually. At the meeting $6,-
000,000 out of $6,600,000 stock was represented.
The money obtained by the mortgage will be
used in paying ofE a $2,000,000 mortgage at 5
per cent and in providing new rolling stock
and a superior equipment. S« venty miles of
track will be laid with steel rails, thus making
an all-steel track. Forty engines and 1,000
freight cars will be added to the rolling stocli
before August next. ;- y;--- -

The Comptroller of the Ctirrency has author-
ized the following National Banks to begin bus-
iness: Hudson National Bank, of Hudson, Mas-
sachusetts, capital,, $100,000;. Merchants' Na-
tional Bank, of Dunkirk, New York, $100,000 ;
Springfield National Bank, of Springfield, Ohio,
$100,000. . ■ -^^_ r ::v;: .^ v^^f^ \ :. ^;- ,.- ,

The statement of the I*hiladelphia and Read-
ing Companies for the month of December,
1881, being the first month of the current fis-
cal year, shows that the total receipts of the
Railroad. Co. were $1,850,888.73,'* and the ex-
penses, excluding rentals and interest, $980,-
277.42, leaving a profit of $870,fill.31. The
gross receipts of the Coal and Iron Co. were
$1,380,788.55, and the expenses, including in-
terest, $1,313,857.32, making the profit for the
month $66,931.23. The profit of both compa-
nies for the month was $937,542.54, a gain of
$397,085.89 as compare! with December, 1880.

The receipts of the Staten Island Railroad and
Ferry Co. for the year 1881 were $304, 000, and the
expenses (including $50,000 for a new ferry
boat) $224,000, leaving a balance of $80,000.
Excluding the boat there is a surplus of $130,-
000 ; deducting from which $21,000 for inter-
est on the bonded debt, leaves a surplus for the
year of $109,000, which, on a capital of $210,-
000, shows a profit of 50 per cent per annum.

From the report of the Railroad Commis-
sioners of Minneasota we learn that for the
year ending June 30, 1881, the number of miles
operated in the State was 3,140, an increase of
147 miles over the preceding year. The gross
eammgs during the same time were $13,921.-
339, an increase of $3,146,513 ; and the net
earnings, $5,580,923, an increase of $1,110,498.
The number of acres sold was 381,587, a de-
crease from the former year of 125,364, and
the receipts therefrom $1,333,564, a decrease of
$41,804. The sales of lands is the only item of
business that shows a decrease. This was large-
ly compensated for by sales in the last half of
1881, the Manitoba Railway Company alone
selling 47,695 acres and receiving in cash $87,-
983 in the six months ending December 31,
1881. All the railroads of the State have been
greatly improved by relaying tracks with steel
rails and new iron and by other betterments.
During the j'ear there were 178 miles of new
railroad completed in the State, and nearly as
much is graded or under way. The total num-
ber of miles in operation December 31, 1881,

was 3,278. The State revenue derived from
railroad taxes for the calendar year 1880 was
$323,443, an increase of $74,000 over 1879. For
the year 1881 it will approach $400,000. This
tax will in the near future be sufficient to pay
the interest on the State debt, including the
latelj' refunded State railroad bonds, and also
to pay the ordinary executive, judicial and leg-
islative expenses of the State Government.

The gross earnings of the Richmond and
Danville Railroad for the quarter ending De-
cember 31, 1881, (including $15,587.45 from in-
terest on investments) were $1,130,613.52, the
expenses $590,211.(53, and the net earnings
$540,401.89; from which deduct interest on
bonded and floating debt, $87,110.34; rent of
Piedmont Railroad, $15,000 ; interest North-
western North Carolina Railroad, $195 ; rental
North Carolina Railroad, $65,000; rental Atlanta'
and Charlotte Air Line Railroad $116,374.98 ;
rental Richmond and York River Railroad,
^21,462.48— total, $30^,142.80, leaving a surplus
of $235,259.09.

The payment of the railroad bonded debt of
Minnesota having been completed by the issue
of new bonds, the old bonds have been destroy-
ed. Out of 2,275 old bonds 2,152 were redeem-
ed by the issue of 3,815 new bonds And the-
payment of about $300,000 cash. The whole
amount ot bonds and money paid out in re-
demption of old bonds, settlement of claims
against the railroads and cash payment of cou-
pons is $413,000. The State has invested in
the new bonds $1,154,000. This aggregate cov-
ers half the amount of. the old bonds with in-
terest for twenty-three years.

The bonded indebtedness of Yuba county,
Cal., amounting to $131,000 has been refunded
from 8 to 6 per cent interest, payable in 20
years. .■\.'- .■- . ^.i ; : ■ j _

The valuation of New Jersey in 1881 amount-
ed $527,455,222, which is an increase of ne^arly
nine million over 1880, and is higher than the
valuation of 1879, but lower than the valuation
of any other year except those mentionied since
1869. ^' ,U • V ) .'::

The president of the Denver and Rio Grande
Railway Company has issued a circular in which
he states that the finances of his company have
always been kept entirely distinct from those of
the Mexican companies, that no money is ow-
ing it by either of these companies, and that it
does not owe any money to them or either of
them. The entire unfunded liabilities of the
Denver and Rio Grande Railway Co.. including
January coupons and dividends and back cou-
pons and dividends not yet demanded, are $2,-
224,015; against which the company has on
hand, in cash, authorized London Exchange
and other equivalent of cash, $2,000,865 ; or
including mail pay due by the United States
Government to November 30, $2,229,834. It
owes n money to any bank, wherever situated
except $125,000 to a New York bank, which
bears 6 per cent interest, and is due in April.
The same bank has now on deposit nearly
fourfold that amount to the credit of this com
pany. Besides the above cash and equivalent
the company has other resources amounting to
$3,803,145, applicable to the completion of its
lines (on which a large amount of work has
already been done) and of which sum it is esti

^.-r.."i".ir-j = ;

- itp«H9Bi^.7.«|iii«ii .!.*iiJ«|i .nqpiif^U'.**.

AMERICAN RATLROAD JOURNAL.

mated only $1,927,800 will be required to com-
plete the Utah connection.

From a return recently published we learn
that the street and road tramways in the United
Kingdom have, during the six years that they
have been in use in that country, shows a remark-
able development. On the 30th June, 1881. they
had an authorized share capital of £7,602,509,
of which £5,096,030 is paid up, whereas on
June 30, 1876, the authorized share capital was
only£3,141,':00, of which £1,702,879 was paid
up. Adding in the sum raised by loans and de-
bentures, the total authorized capital now
amounts to £10,906,575. The total amount
expended is £6,939,838. The length of miles
open for traffic has risen from 158 in 1876 to
483 in 1881. The companies own 15,220 horses
now as compared with 9,222 in 1878, 40 loco-
motive engines now again.<-t 14 in 1878, and 2,-
045 cars now against 1,124 in 1878. The num-
ber of passengers carried has increased from
146,001,223 in 1878 to 205,623,510 in 1881 ; the
gross receipts from £1,145,465 to £1,576,301,
the working expenses from £868,315 to £l,2-'^9,-
896, and the net receipts from £230,956 to £336,-
405.

The receipts into the State Treasury of Cali-
ifornia for the year ending June 30, 1881, (in-
cluding $1,078,305.37 balance from the previ-
ous year) were $6,365,608.59, and the expendi-
tures $5,385,118.82, leaving a balance in the
treasury June 30, 1881, of $980,489.77.

Attention is called to the yearly statement
of the Liverpool and London and Globe Insur-
ance Company, which, among other features,
shows assets of nearly $5,000,000 in the hands
of United States Trustees. Real estate fur-
nishes one-fifth of this amount.

The closing quotations on Thursday were :
Adams Express, 145@149; American Express,
93@94 ; Chicago, Burlington and Quincy, 134J
(3)135; Canada Southern, 53^@53|; Chicago and
Northwestern, 127^@127g;do. pref., 139@139|;
Chicago and Alton, 135^^134 ; Central of New
Jersey, 94;@95; Central Pacific, 88|@89i; Chi-
cago, Milwaukee and St. Paul, 107^@1073 5
Cleveland, Columbus, Cincinnati and Indiana-
polis, 79A@80J; Columbus, Chicago and Indi-
ana Central, 19J@19|; Delaware and Hudson
Canal, 106A@106|; Delaware, Lackawanna and
"Western, 124J@124J; Hannibal and St. Joseph,
94|@95; do. pref., 107^@108; Illinois Central,
133^@134 ; Lake Erie and Western, 34@34J;
Lake Shore and Michigan Southern, 112@112J;
Metropolitan Elevated, 87@.88 ; Manhattan El-
evated, 54i@5;j ; Michigan Central, 86|@86A;
New York Elevated, 106@110 ; New York, Lake
Erie and Western, 40]@40| ; New York Cen-
tral and Hudson River, 1303@130J ; Northern
Pacific, 35@35i ; do. pref., 72^(a),73; Ohio and
Mississippi, 34@@35 ; Panama, — @195 ; Pa-
cific Mail, 41J@41J; Texas and Pacific, 47@.48;
Union Pacific, 117j@117| ; United States Ex-
press, 78@79J ; Western Union Telegraph, 80i
@80| ; Wabash, St. Louis and Pacific, 36@36J;
do. pref., 67|@68 ; Wells-Fargo Express, 127@
130. ,

The following quotations of sales of Railway
and other securities, for the week, are in addi-
tion to those given elsewhere in our columns:

New York. — Atlantic and Pacific 1st, 97 ;
American Dock and Imp., Co., 99 4 ; Atchison,

Colorado and Pacific Ist, 97 ; Boston and New
York Air Line pref., 63 ; Buffalo and Erie 7s
new, 124 ; Cairo and Fulton 1st, llOJ ; Cen-
tral Pacific, State Aid bonds, 102J ; Chicago,
St. Paul and Minneapolis 1st, llli : Chesa-
peake and Ohio 1st pref., 34; do. 2d pre!., 25 ;
do. 1st. Series A, 103|; do. cur. int., 50J; Chi-
cago, St. Paul, Minneapolis and Omaha, 35 J;
do. pref., 100.^ ; do. consol., 99|, Central Iowa,
35 J ; do. 1st, 114 ; Chicago, St. Louis and New
Orleans, 81} ; Chicago and Eastern Illinois, 113;
do. 1st, !04 ; Chicago and Northwestern S. F.
5s, 100} ; Cleveland, Columbus, Cincinnati
and Indiana consol., 124 ; Columbus, Chicago
and Indiana Central Income, 72^; do. 1st, Trust
Co. certif. ass. sup., 122 ; Chicago, Milwaukee
and St. Paul 1st, La C. and Dav. div. 94; do.
1st, S. M. div., 104 ; do. Chicago and Pacific
W. div., 95J; Denver and Rio Grande, 70J :
do. 1st, 114 ; do. 1st consol., 104 ; Danbury and
Norwalk, 65: Delaware and Hudson 1st, Penn.
div.j 128 ; East Tennessee, Virginia and Geor-
gia, 14| ; do. pref., 24|; do. inc., 56 ; do. 5s,
79.} ; Evansville and Terre Haute 1st, 80 ; do.
1st, 97 ; Green Bay, Winona and St. Peter, 14 ;
do. 1st, 95 ; Gulf. Colorado and Santa Fe 1st,
107J; Houston and Texas Central Gen'l mort.,
99 J ; Indiana, Bloomington and Western, 46;
do. 1st, 89} ; International and Gt. Northern
1st, 107 ; Indianapolis, Decatur and Spring-
field. 1st, 105 ; Illinois and Southern Iowa 1st,

102 ; Kansas Pacific 1st consol., 103 1 ; do. 6s,
Denver div. a.ss., 108 J; Keokuk and Des Moines
pref., 49 ; Lehigh and Wilkesbarre consol. ass.,

108 ; Louisville, New Albany and Chicago, 75;
Long Island, 50^ ; Lake Erie and Western, 34;
Mobile and Ohio, 33 ; do. 1st deben., 111} ;
do. 1st mort., 96 ; Marietta and Cincinnati 2d
pref.,' 7; Manhattan Beach, 25 ; Minneapolis
and St. Louis,;20 ; do. pref., 60 ; do. 1st, 115 :
do. Iowa Ext. 1st, 111 ; Missouri, Kansas and
Texas, 36 1 ; do. consol. 7s, 106^ ; do. 2d, 70 ;
do. gen'l mort. 6s, 82| ; Missouri Pacific, 102};
do. 1st consol. ; 103} ; do. 3d, 112 ; Memphis
and Charleston, 79^ ; Milwaukee, Lake Shore
and Western, 47} ; Metropolitan Elevated 2d,
100} ; Michigan Central 5s, 97J; New York, On-
tario and Western, 26 J; Norfolk and Western
pref., 55 ; do. Gen'l mort., 102|^ ; Nashville,
Chattanooga and St. Louis, 83 ; do. 1st, 115 ;
New Orleans Pacific 1st, 90 ; Northern Pacific
1st, 97 ; New York City and Northern Gen'l
mort., 81 ; Ohio Central, 24 ; do. 1st, 97| ; do.
inc., 45; Oregon and Transp., 65 ; Oregon Rail-
way and Nav., 138 ; do. 1st, 106; Ohio and Mis-
sissippi Springfield div. 1st, 120 ; Ohio South-
ern Lst, 90 ; Peoria, Decatur and Evansville,
33|; do. 1st, 103 ; Pittsburg, Bradford and Buf-
falo lst, 93; Quincy and Toledo 1st, 106; Rome,
Watertown and Ogdensburg, 21 ; do. 1st con-
sol., 91 ; Richmond and Allegany, 28 J ; do. 1st,

103 ; Richmond and Danville, 202; do. W. P.,
180 ; do. 1st, 105 ; Rochester and Pittsburg.
27} ; Rensselaer and Saratoga, 139 ; do. 1st,
135; Syracuse, Binghamton and New York 1st,
123} ; St. Paul and Sioux City 1st, 110 ; St.
Louis, Kansas City and Northern, Omaha div.
1st, 113} ; St. Paul Minneapolis and Manitoba,

109 ; do. 1st, 109j; do. Dakota ext., 106 ; St.
Paul and Duluth, 27; do. pref., 68 ; South Car-
olina 1st, 99} ; Southern Pacific of California
1st, 104; South Pacific 1st, 103} ; St. Louis

and San Francisco 2d, Class B, 92; do. C, 91 ;
do. Equip., 97} ; St. Louis and Iron Mountain
1st, pref. inc., 97 ; do. Arkansas Branch 1st,
110 ; Toledo Delphos and Burlington, 13 ; do.
inc., 15 ; Texas and Pacific, 48 ; do. inc. L. G.,
72 J ; Rio Grande div. 1st, 87^ ; Toledo, Peoria
and Western 1st, lllj[ ; Texas Central S. F.
7s, 107 ; Wabash, St. Louis and Pacific, Gen'l
mort. 6s, 89 ; do. Iowa div. 68, 93 J ; do. Chica-
go div., 85 ; Alabama, Class A, 81}; do. C, 82 ;
Arkansas 7s, L. R. & Ft. Smith, 27 ; do. 6s,
fund., 39} ; Missouri 6s, 1888, 108} ; do. 1887,
108}; do. ]889'-90, 110} ; North Carolina S. T.,
3d class, 6; do. 4s, consol. 84} ; South Carolina
6s, n on -fund., 7 ; Tennessee 6s, old, 75; do.
new. 75; Am. Dist, Tel., 35 ; Sutro Tunnel, I ;
Consol. Coal, 32 ; Colorado Coal and Iron. 41};
do. 1st, 88 ; Maryland Coal, 26 ; Deadwood,
5} ; Homestake, 16} ; Mariposa, 2 ; do. pref.,
2} ; Ontario, 35 ; Robinson, 3| ; Standard, 16.

Boston. — Atlantic and Pacific 68, 95| ; do. In-
come 6s, 24} ; Atchison Income 8s, 102}; Bos-
ton Land, 8^ ; Boston Water Power, 6 J ; Bur-
lington and Missouri River in Nebraska 6s,
non-exempt, 104 ; Boston, Revere Beach and
Lynn, 122 ; Connotton Valley, 18 ; do. 7s, 90 ;
do. 7s, Straitsville div., 75 ; Central of Iowa,
32 J ; Chicago, Iowa and Nebraska, 148 ; Chi-
cago, Burlington and Quincy, Denver ext., 87;
Eastern Illinois R. R., 113} ; Flint and Pere
Marquette, 22; do. pref., 93; Fort Scott Branch
7-!, 111} ; Kansas City, St. Joseph and Council
Bluffs 7s, 118 ; Kansas City, Fort Scott and
Gulf, 78; do. pref., ri5;do. 7s, 111}; Kansas City
Lawrence and Southern 5s, 105} ; Little Rock,
Missouri River and Texas, 89 ; Little Rock and
Fort Smith, 63}; do. 7s, 112 ; Marquette,
Houghton and Ontonagon pref., 117} ; do. 68,
103 ; Mexican Central 7s, 85 ; do. blocks, new,
91 ; New York and New England 6s, 107; New
Mexico and Southern Pacific 7s, 115 J ; Northern
Pacific 6s, 98| ; Rutland, 4}; do. pref., 26|; do.
6s, 101} : SonoraR. R., 2t);do. 7s, 87; do. block,
No. 4, 110 ; do. No. 3, 175 ; Summit, 13} ; To-
ledo, Delphos and Burlington, 6| ; do. S. E. div.
6s, 65 ; Wisconsin Central, 19| ; do. 2d Series,

48 ; Allouez Mining Co., 3} ; Brunswick Anti-
mony, 15 ; Copper Falls, 3J ; Franklin, 14^ ;
Huron, 3} ; Harshaw, 3} ; Minnesota, 50 ; Na-
tional, 21 ; Napa consol. Quicksilver, 7 ; Osceo-
la, 34 ; Pewabic, 14* ; Phanix, 2} ; Ridge, 4 ;
Silver Islet, 20 ; Sullivan, 1| ; Star, 1.

P/ii/ode/p/iia. -American Steamship Co. 6s,
107 ; Central Transportation, 35 ; Chesapeake
and Delaware Canal 6s, 89 ; Harrisburg and
Lancaster 6s, 102|; Nesquehtning Valley, 57};
New Orleans Pacific 6s, 91}; Pittsburg 7s, W.
L., 126; do. 7s, Av., 1885, 107 ; Philadelphia,
Wilmington and Baltimore 4s, 96 ; Philadel-
phia and Reading scrip, 82| ; Pennsylvania
Canal 6s, 99}; Pennsylvania Company 4}s, 98};
Shamokin Valley and Potts ville 78, 116; Sham-
okin, Hazleton and Wilkesbarre 5s, 97; Schuyl-
kill Nav. 6s, 1895, 63; Texas and Pacific 6s, 107;
do. consol. mort. 6s, 99|; West Jersey 6s, 117 ;
do. 7s, 122 ; West Chester and Philadelphia 2d
7s, 117}. The latest quotations are : City 63,
— @118 ; do. free of tax, 126(^^130 ; do. 4s,
new, 102@109; Pennsylvania State 6s, 3d series,
100@101 ; do. 5s, new loan. 115(^^116} ; do.
4s, new, 107@111 ; Philadelphia and Reading
R. R., 31f@31}; do. consol. mort. 7s, reg., 125
@— ; do. mort. 6s, 117(^121 ; do. gen'l mort.
6s, coupon. 98}@98J ; do. 78, 1893, 118@125 ;

. '^-J:A^jMfi^'..\*r -**-'.

X^u

AMERICAN RAILROAD JOURNAL.

do. new, conv., 73@77 ; United New Jersey K.
R. and Canal, 184J@184J ; Buffalo, Pittsburg
and Western, 19@19J ; Pittsburg, Titusville
and Buffalo 7s, 102 1@ 103 ; Camden and Am boy
mort. 6s, 1889, 113^@114 ; Pennsylvania R. R.,
61(5)61|; do. general mort. reg., 123^@— ; do.
consol. mort. 6s, reg., 119J@124; Little Schuyl-
kill R. R. 55J@56 ; Morris Canal, 65@75 ; do.
pref., 165@169|; Schuylkill Navigation. 5^@6 ;
do. pref., 12|@13i ; do. 6s. 1882, 88^@89J ;
do. 1872, 107@108 ; Elmira and Williamsport
pref., 58@60 ; do. 6s. 113@— ; do. 5s, 95@— ;
Lehigh Coal and Navigation, 42i@,42|; do. 6s,
1884, 105J@105J ; do. R. R. loan, 118@— ; .lo.
Gold Loin, lllf@lll| ; do. consol. 7s. 116|
(^117 ; Northern Pacific, 34|@35 ; do. pref.,
72J@72| ; North I'ennsylvania, 62|@62| ; do.
6s, 105@105| ; do. ^s, 123^@— ; do. General
mort. 78, reg., 119^@124 ; Philadelphia and
Erie, 19@20; do. 7s, 113@114J ; do. 5s, 105@
105J ; Minehill, 60@60i ; Catawissa, 18@18^ ;
do. pref., 53@53^ ; do. new pref,, 50^053^ ;
do. 7s, 1900, 120@- ; Lehigh VaUey 61i@62J;
do. 6s, coupon, 121@— ; do. reg., 121^@122i;
do. 2d mort. 7s, 133^@134^ ; do. consol. mort.
117J@118; Fifth and Sixth streets fhorse), 149
@150 ; Second and Third, lU\niU5\; Thir-
teenth and Fifteenth, 79.]@80^ ; Spruce and
Pine, 47@50 ; Green and Coates, 99@100 ;
Chestnut and Walnut, 94@95 ; Germantown,

60@70; Union. 110@125 ; West Philadelphia.
100@112 ; People's 13J@14J; Continental, 100
@104.

Baltimore. — Atlantic Coal, 1.10 ; Atlanta and
Charlotte, 81f ; do. 1st, 109^ ; Baltimore City
6s. 1884, 104J ; do. 6s, 1890. IU\ ; do. 6s, 1886,
107 ; do. 5s, 1916, 120| ; do. 5s, 1894, 114; do.
4s, 1920, IIU ; Baltimore and Ohio 2d pref.,
121; Canton Co. 6s. gold, 108.^; Chesapeake and
Ohio Canal, 63, 35 ; Chicago and Eastern Illinois
1st, 101 i ; Columbia and Greenville 1st, 103 J ;
George's Creek Coal. 98; Maryland Defense bs,
103|^ ; Northern Central 5s. 96J ; Ohio and Mis-
sissippi, Springfield div. 1st, 120 J; Richmond
and Danville gold bonds, 103 ; Richmond and
Alleghany, 30 ; South Side (Va.) 2d 6s, 102 ;
Virginia Black scrip. 33 ; do. Peelers, 39 ; do.
coupons. 37 ; Virginia Midland. 91 ; do. 1st
pref., 125 ; do. 2d pref., 125 ; do. 2d mort., HI;
do. 3d mort., 95; do. 5th mort., 98J ; Virginia
and Tennessee 6s, 101 J. The latest quotations
are : Atlanta and Charlotte, — @82 ; do. 1st.
— @110 ; Baltimore and Ohio, 195@200 ; do.
6s, 1885. 107@108 ; Baltimore City Passenger
R. R., 41@42 J; Baltimore City 6s, 1886, 107@.
107J ; do. 6s, 1884, 104^@105J ; do. 6s, 1890,
114@114J ; do. 6s, 1900, 127^©- ; do. 6s, 1902,
128@— ; do. 4s, 1920. 111J@112 ; Columbia
and Greenville 1st. 103@03J; Central Ohio 1st,
~@m\ ; Marietta and Cincinnati 1st, 124@
125 ; do. 2d. 105J@105J ; do. 3d, 58J@58| ;
Norfolk Water 8s, 130@— ; Northern Central,
49@50i ; do. 6s, 1900, gold. 113^®-; do. 1904,
gold. 112i@- ; do. 5s. 1926. 95i@97 ; Norfolk
and Western pref., 56@57 ; Ohio and Missis-
sippi Springfield div. 1st, 120^@121; Pittsburg
andConnellsville7s. 120@122 J : Richmond and
Danville, 200@250; Virginia consols., 63J@64 ;
do. 10-40S, 39|@4'); Virginia Midland 5th mort..
98@98a; Western Maryland 2d pref.. 106^@— ;
_•. w?^^""*' S'^*^- ^y Washington Co., 110@
@lb9i ^^^^"^' ^°^^^°^^^^ ^^^ Augusta, 108^

• ; " The Coal Trade.

The leading coal carrying companies make
the following reports of their tonnage for the
week ending Janv.ary 14, and for the year to
same date, compared with their respective
amounts carried to the same time last vear:

Week. 1882. 1881.

Reading Railroad 156.709 1,017,718 722,618

SchuylkiU Canal 27,655

Lehigh VaUey 142,3-23 801,105 526.790

Delaware, Lackawanna and

Western 87,952 158,452 104,330

Shamokin 20,;U4 30,522 32,563

Central R. R. of New Jersey.. 92,577 132,698 92.399

United R. R. ot New Jersey.. 35,482 63,014 47.131

Pennsylvania Coal 23,058 42,895 31,871

Delaware and Hudson Canal.. 81.778 131.109 83.413
Huntingdon and Broad Top

Mountain 11,859 22,716 19,099

Penn. and New York 34,853 192.796 138.304

Clearfield. Pa 51,267 90,352 65,353

The total tonnage of anthracite coal from all
the regions for the we 3k ending January 14,
as reported by the several carrying companies,
amounted to 592.801 tons, against 347,228 tons
in the corresponding week last year, an increase
of 245. 573 tons. The total amount of anthra-
cite mined for the year is 967.878 tons, against
665,775 tons for the same period last jear, an
increase of 302,103 tons. The quantity of bi-
tuminous coal sent to market for the week
amounted to 46,304 tons, against 32.701 tons
in corresponding week last year, an increase
of 13,603 tons. The total amount of bitumin-
ous mined for the year is 115,122 tons, against
104.224 tons for the corresponding period last
year, an increase of 10,898 tons. The total
tonnage of all kinds of coal for the week is
639.105 tons, against 379.929 tons in corre-
sponding week last year, an increase of 529,176
tons, and the total tonnage for the coal year is
1,083.000 tons, against 769,999 tons to same
date last year, an increase ol 313.001 tons. The
quantity of coal and coke carried over the
Pennsylvania Railroad for the week ending Jan-
uary 14 was 213.360 tons, of which 154.673
tons were coal and 58.687 tons coke. The tot^l
tonnage for the year thus far has been 398.178
tons, of which 283.776 tons were coal and 114.-
402 tons coke. These figures embrace all the
coal and. coke carried over the road east and
west. The Pennsylvania Railroad tonnage for
1881 amounted to 9,209,309 tons, of which 6,-
793.743 was coal and 2.415.563 coke. We have
received no report of the Cumberland coal
shipments for the week ending January 14.
The Reading Railroad shipment for last week,
ending January 21, was 98,500 tons, of which
17,980 tons were sent to and 13,560 tons ship-
ped from Port Richmond, and 11.682 tons sent
to and 15,796 tons shipped from Elizabethporl.
— Phil. Ledger, Jan. 23.

American Silk Association.

The annual report of the Silk Association of
America shows that the imports during De-
cember of dress silks were $727,060 in 1877,
and $940,198 in the last month. The total im-
ports of silk and silk mixed goods were $1,136.-
129 m December, 1877, and $1,896,204 in De-
cember, 1881. The values of importations in
December of laces in the past five years were :
1877, $65,579; 1878. $44,758; 1879, |42,642; 1880,
$98,400, 1881, $247,462.

During the year 1880 dress silk goods to the
amount of $17,665,038 and silk ribbons to the
amount of $3,563,848 were imported. During

the last year dress goods to the amount of $16,-
959.043 and silk ribbons to the amount of $2,-
614.918 wire imported. In 1880 silk and silk
mixed goods to the amount of $4,751,946 were
imported, and in 1881 the importations amount-
ed to $4,267,394. The total values of all kinds
of silk goods imported during 1880 was $33,-
305.460 ; in 1881 the total value was $31,636,-
377. The report further states that in 1880 20,-
899 bales of raw silk, valued at $11,478,727 were
received at the ports of New York and San
Francisco ; and in 1881 21.692 bales, valued at
$11,936,865. were received. The importation
of waste silk was very large during the last
year. The manufacture of silk goods from waste
silk was almost annihilated in 1880, but re-
gained its prosperity in 1881. There were 492
bales of waste silk, valued at $204,604, received

at the ports of New York and San Francisco in
1880; and in 1881. 2.010 bales, vjUued at $709.-
186 were imported.

Anthracite Coal Tonnage.

The following is a comparativ
the anthracite coal tonnage for
December, 1881 and 1880 :

e sttitement of
the .months of

Reading Railroad

Lehigh Valley Railroad

Central Railroad of New Jersey

Delaware, T^cka wanna A: Western. . .

Delaware and Hudson Canal

Pennsylvania Raih-oad

Pennsylvania Coal Co

New York, Lake Erie and Western-
Railroad

1881.
633,116
595,024
406,837
425,914
300,780
180,5J2
142,l(i3

40.408

1880.
407,089
3(.y,563
276,888
310,150
213,009
149.675
106,018

46.473

Total 2,724,726 1,878,867

For the years 18S1 and 1880, the |j>tatement
compares as follows : j

1881. 1880.

Reading Railroad 6,940,283 5,933,922

Lehiah Valley Railroad 6,721,869 4.394,632

Central Railroad of New Jersey.. 4,085,423 3,470,141
Delawart". Lackawanna & West-
ern Railroad 4,388,968 3..550,348

Delaware and Hudson Canal 3,211.496 2,674,704

Pennsylvania liailroad 2.211,:i83 1,864'031

Pennsylvania Coal Co 1,475.800 1,138,466

New York, Lake Erie and West-
ern Railroad 465.230 411.094

Total 28,500,016 23,437,242

The totil increase for the month of Decem-
ber was 845,969 tons ; and for the year 5,062,-
574 tons. The stock of coal on hand at tide
water shipping points on the 31st of December
was 497,024 tons against 392,315 tons the 30th
of November, an increase for the month of
104,709 tons. The amount on hand December
31, 1880, was 500,373 tons. Of the total pro-
duction in 1881, 13.951.383 tons, or 48.96 per
cent, was from Wyoming region ; 5,294,676
tons or 18.58 per cent, from Lehigh region,
and 9,2.53.958 tons, or 32.46 per cent, from
Schuylkill region. Competitive tonnage, in-
cluding all coal which for final consumption or
in transit reaches any point on Hudson river
or the Bay of New York, or which passes out
of the Capes of the Delaware except pea and
dust: 1880, 10,088.159 tons; 1881, 12,169,030

tons. L j

^^— '

The stockholders of the Richmond and Dan-
ville Railroad Company have authorized the
President to subscribe od behalf of the compa-
ny for 10.000 shares of the new stock of the
Richmond and West Point Terminal Railway
and Warehouse Company; also to issue deben-
ture bonds to the amount of $4,000,000, p^yh-
ble forty-five years after date and bearing 6 per
cent interest payable semi-annually.

AMERICAN RAILROAD JOURNAL.

Important Facts and Pigfures.

The subjoined statement?, showing in a
variety of forms the rapid increase arising
from interest (rent or usury being very nearly
synonymous terms) charged for the use of
accumulated wealth — which we take from a
lecture delivered some time since in Associa-
tion Hall, New York, by Wallace P. Groom, on
the ** Currency Needs of Commerce " — contain
much "food for thought" for all classes, old
or young, man or woman, employer or em-
ployed ; for interest affects the price of every
commodity in the most vital manner.

Many carelessly infer that the increase of
money at six per cent is just twice as rapid as
at three per cent ; but in reality the increase is
vastly more rapid than this. In one hundred
years, at six per cent, the increase on any given
sum is about eighteen times as much as at
three per cent.

If one dollar be invested and the interest
added to the principal annually, at the rates
named, we shall have the following result as
the accumulation of one hundred years :

One Dollar, 100 yeara, at 1 per cent $2 ^

do do 2 do 7>4

4» do 2^ do 11'^

4i do :i do 19>^

«» do 3>i do 31>4

a» ' do * do 50^9

do do i^ do 81>a

do do 6 do 131

do do 6 do 340

do do 7 do 868

do do 8 do 2.2U3

do do 9 do 5,543

do do 10 do 13.809

da do 12 do 84,675

do do 15 do 1.174,405

do do 18 do 15.145,007

do do 24 do 2.551.799,404

There are probably few, however familiar
with the subject of the rapid increase of capi-
tal put at interest, who would not be startled
at the statement that the cost of the outfit of
Christopher Columbus in his first voyage of
discovery, put at interest at six per cent,
would by this time have amounted to more than
the eiUire money value of this continent, together
wUh the accumulations from the indtistry of
all who have lived upon it. If any doubt
this, let them reckon the amount, esti-
mating the entire outfit to have cost only the
small sum of $5,000, and remembering that
money doubles, at six per cent, in a little less
than twelve years— or accurately, in eleven
years, ten months and twenty-one days. Al-
lowing it to double every twelve years, this
$5,000 at interest at six per cent since 1492, it
will be found, would have amounted to $17,895 -
700,000,000 ; which, estimating the population
of the entire continent of America (North and
South) to be eighty-five millions, or seventeen
million families (averaging five members each)
would give more than a $1,000,000 as the pos-
session of every one of these. The interest
upon $1,000,000 at six per cent is $60,000,
which would now be the princely annual in-
come of each of these seventeen million fami-
lies from the accumulations up to this time
upon so small a sum as that named for tho
outfit of the discovery.

In Hildreth's " History of the United States,"
it is stated thnt Manhattan Island— afterward
called New Amsterdam, now the City of New
York— was bought by the Dutch from the
Indians, for 60 guilders, or $24, and this only
about two hundred and fifty years ago. And

yet, if the purchasers could have securely
placed that $24 where it would have added to
the principal annually interest at the rate of
seven per cent, the accumulation would exceed
the present market value of all tho real estate
of the City and County of New York.

Again, if a man at the age of twenty-five
should commence business with a capital of
$100,000, and could by any possibility add
thereto interest at our legal rate of seven per
cent annually, the result would be (in round
numbers as follows :

Age. Caoital.

25 $100,000

35 200,000

45 400.000

65 800,000

65 1.600,000

75 3.200.000

86 6,400,000

Now the growth of national wealth is only
about three and one-eight per cent per annum,
notwithstanding the assertion of those who
have placed it much higher, through compar-
ing tho old valuations with the new (which
have been greatly increased), instead of taking
as the basis of their calculation, as they should
have done, the actual number of horses, cattle,
hogs, sheep, etc., etc., at the different periods.
It is plain therefore, that the great mistake
most men make is in attempting to use bor-
rowed capital at an immensely high rent, ordi-
narily termed interest, which, by the use of
gold as currency, is often forced still higher.
While the growth of the national wealth
remains at the present ratf, the averagfi man
who attempts to pay even seven per cent for
all the capital he can get should not expect to
avoid bankruptcy as the result.

Cincinnati Iron Market.

OmcE OF E. L. Harper & Co.

Cincinnati, Jan. 24. 1882.

There is no material change to note in the
market. The demand for all grades is large
and fully up to the ability of sellers to meet.
All grades are in light supply and the market
closes strong at the quotations given below.

We quote as follows :

rOUMSBT.

No. Mo8.

Hanging Rock Charcoal 1 29 50@30 75 4

Strong Neutral Coke 1 27 OOf^'28 00 4

American bcotgh. 1 26 50(a>27 60 4

f , OBEY FOBOE.

Neutral Coke...'. 25 50@26 50 4

Cold Short 24 00(g>25 00 4

CAB WHEEL AMD MALLEABLE.

Hanging Rock Cold Blast 36 00@38 00 4

Warm Blast 30 00(0*32 00 4

Lake Superior 1 and 2 32 00^33 00 4

Lake Superior 3 1o r, 34 00(g(3G 00 4

Southern Car Wheel 36 00(ia»40 00 4

Pennsylvania Railroad.

The statement of the business of all lines
of the Pennsylvania Railroad Company east
of Pittsburg and Erie for December, 1881, as
compared with the same month in 1880, shows

An increase in gross earnings of $183,923

An increase in expenses of 106,894

An increase in net earnings of $76,989

The twelve months of 1881, as compared with

the same period in 1880, show

An increase in gross earnings of $2,864,110

An increase in expenses of 2,082,762

bilities of $2,713,152, being a loss, as ccnpared
with the same period in 1880, of $358,900. u

Hoe Out Yoxir Row. ]

One day a farmer's lazy boy

Was hoeing out the corn.
And moodily had listened long

To hear the dinner horn.
The welcome blast was heard at last.

And down he dropped his hoe,
But the good man shouted in his ear,

" My boy, hoe out your row."

Although a " hard one " was the row.

To use a plowman's phrase.
The lad. as sailors have it.

Beginning well to " haze."
" I can," said he, and manfully

He seized again his hoe,
And the good man smiled to see

The boy hoe out his row.

The lad the text remembered.

And proved the moral well,
That perseverance to the end

At last will nobly tell.
Take courage, man ! resolve you can.

And strike a vigorous blow ;
In life's great field of varied toil.

Always " hoe out your row."

Pun on a Perryboat.

When a Fulton ferryboat was lying in its
Brooklyn slip yesterday, a gentleman entered
the ladies' cabin, and seeing that the after de-
partment was occupied only by men, the ladies
having, in accordance with their custom, gone as
far forward as possible, evidently supposed
himself on the other side of the boat, and,
quietly lighting his pipe, proceeded to solace
himself with a smoke. A minute afterward a
lady entered, and tho smoker politely directed
her to the other cabin. She looked somwhat
surprised, hesitated for an instant, and went
out, while all in the cabin who had watched

the proceeding laughed so heartily that the
gentleman with the pipe asked his neighbor
what the matter was.

"It is you who ought to hive gone into the
other cabin," was the reply. "This is the
ladies' department."

The smoker looked wildly around him, re-
cognized the situation, and hurried out with a
very red face. He must have met the lady on
her way back, for five seconds afterwards she
entered and took the seat he had just vacated
and her countenance bore as bright a bloom as
that of the smoker. The occupants of the
cabin laughed silently, while they pretended
not to see her.

An increase in net earnings of $779,348

All lines west of Pittsburg and Erie fur tht
twelve months of 1881 show a surplus over lia-

The official report of the anthracite coal ton-
nage for the month of December and the past
year shows that the tonnage of the various
carrying companies for the month was 2,724,-
726 tons, and for the year 28,500,016 tons, an
increase of 5,062,774 tons as compared with the

previous year. Of this amount the Philadel-
phia and Reading Railroad carried 6,940,283
tons, the Lehigh Valley Railroad 5,721.869 tons,
the Central Railroad of New Jersey 4,085,423
tons, the Delaware, Lackawanna and Western
Railroad 4,338,968 tons, the Delaware and Hud-
son Canal Company 3,211.496 tons, the Penn-
sylvania Railroad 2,211,363 tons, the Pennsyl-
vania Coal Company 1,475,385 tons, the New
York, Lake Erie and Western Railroad 465,230
tons. Of the total production 48 96 100 per
cent was from the Wj'oming region. 18 58-100
from the Lehigh region, and 32 46-100 from the
Schuykill region. The stock of coal on hand at
tidewater shipping points at the close of the
year was 497,024 tons.

>;w5i5;;**"^ .■ri'-W' •

^rrnepr^i-vy: f*7v 5?^**r".

.,-1

AMERICAN RAILROAD JOURNAL.

LIVERPOOL AND LONDON AND GLOBE

INSURANCE COMPANY.

Gross Fire Asflets -. $12,167,538 44

Fire Liabilitiea, including paid-np Capital 5,875,967 54

Net Surplus

$6,291,580 90

ASSETS.

Besl Estate ..' $953,000 00

Loans on Bond and Mortgage 1,288,586 00

United States Government Bonds 1,552,687 50

Cash in Banks 527,354 16

Other Admitted Assets 455,961 96

Interest allowed on Deposits subject
to Draft. Securities, &c^ bought and
sold on Commission.

investment Securities always on hand. '

ALONZO FOLLETT,

LIABILITIES.

$4,777,589 62

Outstanding Losses $461,094 20

Unearned Premiums 1,988.017 96

All other Liabilities 499,870 07—

2.948,482 23

Surplus

$ 1 ,829, 1 07 39

Income 1881 $3,086,873 09

Expenditures, 1881 2,620.263 72

Negotiator of prime Commer-
cial paper at Low Rates. Does
not solicit and will not take
hold of any but concerns whose
paper is A L

CZTAiiJJf^iV; ROBERT B. MINTURN.

ALEXANDER HAMILTON. CHAS. H. MARSHALL. ANSON PHELPS STOKES.

JOHN A. STEWART. "

Resident Manager, J. E. PULSPORD.

Deputy Manager, HENRY W. EATOU". Ass't Dep'y Manager, GEO. W. HOYT.

Paiiie, Webber & Co.,

Bamiers and Brokers, , .

I¥o, .13 Dr>v«»ii«|iir«* St.. B«<«tOR.

(Membert of the Boston Stock Exchanffe.) j

Devot« special attention to the purchase and sale of
Stocks and Bonds in the Boston market, the careful Re-
lection of securities for inrestment, and the negotiation
of commer cial paper.

Wm. a. Paine. Wali^ce G. WsBBEai. C. H. Taxke.

SITUATION WANTED AS CIVIL ENGINEER ON A
Railroad; can do machinists work, erect bridges.
Well conversed in Spanish language. Educated at
Rens. Poly. Inst., Troy, N. Y. Address

CIVIL ENGINEER, P. O. Box 1594, N. Y.

THE PERFECTED

TDE LAKE SHORE AND MICHIGAN SOUTH-
ERN RAILWAY COMPANY,
Treasurer's Office, Qrank Central Depot,
New York, December 23J, IStil.
The Board of Dirpctors of thi.s c^mpanv hnv^ fhif
day declared n QUARTEKLY DIVIDEND of TWO
per cent u^-n ifscnpitnl stock, payable on WEDNES-
DAY, the first diiy of Febru^-ry next a» this office.

The transfer bo..k<« will be close] «t 3 o'clock P.
M. on Saturdiiy, the Sipt instant, and will be re
opened on the morning of Saturday, the fourth day o«
February next.

E. D. WORCESTER, Treasurer

REMINGTON

FOR^ALE.

ten new Locomotives, Standard Grange, June
and July aelivery.

New 3ft. Gauge Locomotives, summer delivery.

One Second-hand Tank Locomotive 3ft. Gauge,
rebuilt good as new, January delivery.

Second-hand Standard Gauge Locomotive and
Passenger Cars.

Thirty new Box Cars Standard Gauge, immedi-
ate delivery.

New Flat and Coal Cars, January deUvery.

New Passenger and Combination Coaches 3ft.
Gauge, early delivery.

New Car Wheels and Castings.

won and Steel Rails.

Narrow-Gauge Rolling stock a specialty. ,

BARROWS & CO.

Q4 BrocLci-wreiy,

NEW YOBK.

TYPE-WRITER.

1 WRITING - MACHINE which combii
.^"e with rapidity and accuracy,
and economy with elegance
and convenience.

Adapted to general use. Every machi >«*
guaranteed.

Send for Circulars with names and testimonials
recent patrons.

E. REMINBTON & SONS,

281 and 283 Broadway, New York.
38 Madlsoii Street, Chicago.
134 South 7th Street, Philadelphia.
91 Soutli Howard St., Baltimore,

■ ' IMention this paper.]

John H. Davis & Co.,

Billies AND BROKERS, I |

«ro. IT HTjiH Sf., Wew Vork. !

♦

Interest allowed on temporary and standing d«po«ito.
Ptocks and Bonds bought and sold on Commlssioa only,
either on Margin or for Investment.

/■ ■ - • '■ :: ■ - --:-

Brown, Brothers & Co.,

No, 59 W/ui Stket, New Yon, { {

—BUT AND SEtX —

"RTT iT iR or* E2SZC2i-A-iTO-E

— ON —

QREAT BRITAIN, IRELAND, FRANCE, aERMANT.

BELGIUM, AND HOLLAND.

Issue Commerciai and Travelers' Credits in Sterling,

ATAILABLE IN ANY PART OF THE WORLD. AND IK
FRANCS IN MARTINIQUE AND GUADALOUPE.

Make Teleobaphic Tbaksfers of Monet between thU
and other countries, throngb London and Paris.

D. N. BEARDSLEY & CO.,

MANUFACTURERS OF

Superior Oak and Chestnut Lumber,

AND RAILROAD TIES.

Osi3e Cstr Tiiaa'ber a, Specialt3r.

OFFICE ; 9 MURRAY ST.,

NEW YORK.

Make Collections of Drafts drawn abroad on all points
in the United States and Canada, and of draft* drawn in
the United States on Foreign Countries.

' ti'li^'ti i'i'ii^iiMri"i.A¥B"'taiiitif- ■lililifi if-

Seioto R. R 1st 7*8, 1905.
Scioto R. R. 2nd 7's, 1879.
Seioto R R. Con. 7's, 1910.
Scioto R R Stock.
Columbus & Toledo 1st 7*8, 1910.
ToL, Ciian. & St. L. Stock and Bonds.

. D. A. k^AftTOKf i -
^o. 98 Broadway, N. V,

1 •

.^nsBV^iiBqiT

60 \ ■-•:^- •v:i.'l.■■

AMERICAN RAILBOAD JOURNAL

AMERICA]^

REFRiaERATOR

LINE,

New York, Oct., 18^1.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported
Liquors, Patent Medicines, Es-
sential Oils, Mineral Waters,
Lager Beer, Ales and Porters,
Oysters, or, in fact, any class ot
goods that needs protection
from heat or cold while in tran-
sit to the West and Southwest,
either in Summer or Winter,
will do well to ship the same by
the new and elegant cars of the

HEFBIGEMTOE TRANSIT COMI

Gnaranteed Bills of Lading
glTen.

Time as qnick and rates »s
low as by any first class fast
freigpht line.

£3^Ship from New York rla
N. T. C. and H. l^. .KB., St.
J clings Park ; from Boston Tia
Boston and Albany K. R.

Of the Finest Finish, as well as every description of CAB WOBE, furnished at short notice and at reasoaablr
I Prices by the (

HAKI.AW A noLL.iiVGS%%ORTH i:;o., Hilmiiiirton. Del.

PARDEE CAR WORKS.

WATSONTOWN, PA.,

PKOPRI ETOKS.

Msixi\xfh.ot\xz*or3 of*
Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, Ooal, Mine, and Hand Cart ;
KeJley'8 Patent Turn-Tables, and Centers for Wooden Turn-Tables;
j ^ Car Castings, Railroad Forgings, Rolling-Mill Castings,
I ' ' Bridjre Bolts and Castings. I

•We baT«, in connection with oar Car Works, an extensire Foundry and Machine-shop, and are prepared

le do a general Machine Business.

Chairman,
ABIO FABDEE.

TVeasurer and General Manager,
H. P. SNYDER.

• 1
Secretary,
N. LEISER.

NEW YOEE CITY OFFICE : ROOM A. No. 137 BROADWAY.

C. W. liEAVITT. Agent.

m roBK, uu imMjmm umn.

! TO THE! TR,A.VB3L.IIsrCI- FTJBLiIO. ^

r_wJ'2r'^°^ *^® Centennial season— six months closing September 10, 1876-the Erie EailwaycaiTisd almoe*
rKEU MILLION passengers, without a singe accident to Ufe or limb, or the loss of a piece of baggage.

BW- Tif^l/^^" *^**-^® Jt®" *^« official records of the United States Post Office Department "khow the trrirala of
Erie Railway trams in New York, on time, to be from 15 to 27 per cent ahead cf competing lines. ""''»*■ ««

Facts well worthy the consideration of travelers.

S. S. BOWEN, General SuperitUendent.

JNO. N. ABBOTT, Om. Ausm^sr Agent

Railroad

For rates and information apply to

FRED'K I. EVANS,

' Beneial Eastern Agent.

92 Wall Street, - New York.

271 Broadway, New York,

232 Waahington Street, Boston*

Track Scales.

AND ' ^^^

TESTING

MACHINES

PHILADELPHIA,
50 Soaitt 4lh St.

NKW YORK, I
.115 Liberty Street.

PITTSBURGH,
Liberty St. cor. 7th Ay.

- ST LOUIS, I

600 Nortb Sd Street
KKHV ORLRAIvS,
14-^ OrnTler Street

I THE ROGERS

LOCOMOTIVE AND MACHINE WOMS,

Faterson, N". J.

HarlDg extensive facilities, we are now prepared tt
furnish promptly, of the best and most approved de
scriptlon, either

COAL OR IVOOD BURNINti

XjOOOI^OTIVE HSlSrCHlTESS,

AUTD OTHEB TABIETIES OF

BAILROAD IVIACHINEBT.

J. S. ROGBRS, Pre$'L
B. 8. HUGHBS, Sec
WM. 8. HUDSON, Sup

re$'L \
, Sup'L )

PateraoB, H. J.

Tl. S. ZST70-ZSSS, rrzesbervurez.

44 ExeHasf^tt Pl«e«t Heinr Torls.

PT H Sj

GORDON & DUGGAN

RAILWAY SWITCH.

The Standard on several and in use on
twenty-five Bailroads. 1

Combines Safety, Durability, Simplicity,
and Iiow Cost, with Fixed Raiis.l I '"'■

The only movable piece weighs 375 Ibs^
and is without a bolt or rivet. -

E. GORDON, Treasurer,

No. 28 State Street, Boston, Mass.

r>^-i^. ':. \.' ^ AiAA** *

'-"■i^ '■■ 1 '^ i riri-nriilM iMM J Ti Ai--ir'

ladtk-

."TA-T'J*-:''

■ V. -l!H.«J.W!l|p*

«^

AMERICAN RAILROAD JOURNAL.

VALENTINE'S VARNISHES

ARE ON SALE IN THE FOLLOWING COUNTRIES;

ENGLAND.

FRANCE,

GERMANY,

SWITZERLAND.
ITALY.

HOLLAND.

AUSTRIA.

SPAIN.

SCOTLAND.

RUSSIA,

INDIA.

■I

SOUTH AMERICA.

MEXICO.

AUSTRALIA.

NEW ZEALAND.
CUBA. '

VALENTINE & COMFANT,

COACH AND CAR TARNISHES,

E AMES V AC VUM SRAKE CO.,

RAILWAY TRAIN ^RAKES, '

P. O. Box 3,978. ftALES OFFU 'E iH GOLD »>T , W. V. KfpVrse ntid by TUOs. l>KOI»»Kii & SO.^.

The EAMES VACUUM BBAKE is confidently offered as the most efficient, simpl^, durable and cheapest Power Brake in the
market. It can be seen in operation uponlover seventy roads.

^^itiaiau^iSiL -^ i .^^ImTi. • ; i ' V i hT "ifa'A'i'i"-." ■ i Pi i^^iu-J^: L - :!- '^i.-^~'..--^fi^-r^v-~-^^Ji.':'-

■■'■ '.:':.,■ i\^::-^''i-

V^t,*. ';».■» f*--. "-S .^^.'^ r'.l' .- - .. ilLtfk.M;.

I",^ J Kf'^'^'Z

'■■ '^'-'l^v;'." -).,.. H-^-d' ':■'■: ;".^' ^■•■^^••■■/:::v': '^^^-■^:.•:^..■■:■^•

AMERICAN RAILROAD JOURNAL.

..,,..|.

JOHN STEPHENSON CO.

[LiMITKD.]

NEW YORK.

Superior Elegance, Lightness and Du-
rability. The result of 50 years' experi

ence.

Adopted to all countries and climates.
Combining all valuable improvements
Shipped to Foreign P;irts with greatest
care, and at most favorable rates. 1

Baker & Ciodwiii's

PRINTING HOUSE.

MODERN RAILWAY PRINTme,

prelnl attrtt *<>■• clTeit^tn thi«ClNSS nfwnrlt.

This establishment is very extensive, adapted to everr
TWiety and style of Printing, and the proprietors hopt^
to be favored with a share of Railway patronage. Esti-
mates furnished on application.

BAKER & aODWIW, Printers,

No. 25 Park Row,

Directly opp. Post Office. NE'W YORK.

Printing of all kinds at greatly reduced rates.

HOUSATONIC RAILROAD

THE ONLY LINE RUNNINO

T X3: ^ O TJ a- 22 C-A-I^S

Petween New York, Great Barrington, Stockbridge, Len
ox, and PittstielJ— the far-lamed resort of the

Berkshire Hills

of Western M issachusetts— the •'Switzerland of Amarlca."
Two through trains daily between New York City and

all points on the Umiaatonic Riilroad, from the Granr

Central Depot via the New York, New Haven, and Hart

rord Railroad at 8:05 A. M. and 3:43 P. M.
Descriptive Gnide Book sent free upon application to

the General Ticket Agent.

H. D. AVERILL, Gen'l Tickft Agent.
L. B. STILLSON, Superintendent.
General Office*. Bridgeport, Ct. January 2, 1882.

J„|,nB.Davids4(V

«?<

M7^NGI.^EERS.Mechanics,M UOwners.fiuilders.ila'nu-
ililacturers.Miners.Mcrcliants.&cMilltindinMoORE'S
Universal A ssistant and Compuete Mr.ciiANic, a work
eontain;nKlui6i>a;.-es,600Enpravings,4ClTables,andover
1.00),0U)IndustrialF.icts,Ca'culitions, Pror-ses. Secrets,
Rules,<tc..ofrarentilityin2 Trades. A $5 bonk free by
mail for i 2. ."iO, worth its weight in g 'd to any Mechanic,
FarmcrorB.iSinessMin. Ai/enin Wantcl. Sure sale every-
where for all time. For 111. Contpr.tJ Pamphlet, terms,
and Catalogue of 500 Practical Books, addressNATlONAI.
Book Ca. 73 B«ekman bt.. Kew York.

1 NO OTHER UNE IS SUPERIOR TO THE

I 1 FITCHBURG RAILROAD

HOOSAC TUNNEL ROUTE

"W EST.

8.30

'•«»

.;.-r,l

A. DAY

EXPRESS.

Ihrough drawing-room car to Rochester, N. Y., connecting with through sleeping car
lor Cincinnati, Cleveland, Toledo. DETROIT AND CHICAGO,

p. CINCINNATI

M. EXPRESS.

Pullman Sleeping Car attached, running through to Cincinnati without change. (Onlj
Line running Pullman Cars irom Boston.) This car runs via Erie Railway, making direc
connection for Louisville, St. Louis, Kansas City, New Orleans, and all points in Texas an(
New Mexico

P. ST. LOUIS

M. EXPRESS.

; THE ONLY LINE which runs a THROUGH SLEEPING-CAR from

BOSTON TO ST. LOUIS WITHOUT CHANGE!

II ARRIVING AT 8.00 A,M, SECOND MORNING, I

■r

SOUTHWEST.

p. PACIFIC

M. EXPRESS.

The only line running a through sleeping car viu Buffalo and Detroit without change,
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex-
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast, Wisconsin, Minnesota
and all points in the

WEST AND NORTHWEST.

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED,

Phis Great Short Line passes through the most celebrated scenery in the country, including the famoua

HOOSAC TUNNEL, four and three-quarters miles long, being the longest Tunnel

, .' in America, and the third longest iu the world. . ■. .. i,

rickets, Drawinir-Rooin and SIeepin?-Car Accominodation!« may be secured In Advance

by Applying to or Addressingr

.WASHINGTON STREET, BOSTON. 250

JOHN ADAMS, General Superintendent.

F. O. HEALD, Acting Gen'l Passenger and Ticket Agent.

_ ^,- '^1, - T. •

:^^ .:^.L^

.'JiMlILkJ

Vn^^m ^^tl^ ISmiUiHIQ !83lo

steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures.

Skcoxd Quarto Sebies.— Vol. XXXVm., No. 5.]

NEW YORK, FEBRUARY 4, 1882.

[Whoi.« No. 2,389.— Vol LV.

• i

Railroad Sanitation.

(Continued from last week.)

(Read at the Savannah meeting of the American Public

Health Association, 1831.] By S. S. Hebrick, M. D.,

Secretary of the Louisiana State Board of Health.

3. If it be admitted that the personal hygiene
of railroad employes fs a matter of any impor-
tance to the company, it follows that the advice
of a sanitarian would be valuable in relation
to passenger cars, to buildings and grounds,
and in the selection of sites and the creation
of works and buildings. It is not supposed
that practical railroad mana;:;ers regard disease
as a special dispensation of providence, when
they build without due regard to drainage, re-
moval of excreta or proximity to marshes.
These and other similar blunders simply indi-
cate neglect to secure suitable sanitary advice,
and not a spirit of fatalism ; but the same man-
agers are careful to have the services of com •
petent mechanical engineers and builders. The
time is happily past when sanitation can be
stigmatized as a profane scheme to cheat di-
vine providence; let us hope that managers of
corporations may soon cease to count it a fruit-
less tax on their revenues. " Public health is
public wealth" has some time been repeated
for an axiom, and corporations aim at securing
a share of the public wealth ; can they there-
fore either justly or safely disregard the public
health ?

4. For some years the national government
has sustained a meteorological service, for the
benefit of the agricultural and commercial in-
terests. These are the very interests which
support railroads, and it is plainly an advan-
tage to the companies to co-operate with and
extend this service, both to enable them to
guard their own property from damage by
storms and for the benefit of the agriculturists
who give them business. The cost would be
trivial, for the observations could be made and
forwarded by telegraph operators, and it is not
improbable that the necessary instruments
would be furnished by the government. The
affiliation of this branch of railroad sanitation
with the National Signal Service would be so
manifestly advantageou=» to all concerned, that
it could not fail of adoption.

5. Railroad companies are constantly liable
to receive persons and animals afiEected with
contagious diseases for transportation in their
cars, and no one would assert that it is proper
to admit them. It is too much to expect that
the ordinary officers of a company could be de-

pended on to recognize and ward off all danger
of this kind. Some advantag3 might be de-
rived from printed rules, prepared by a medical
man,but instances would arise calling for a med-
ical diagnosis; and then a physician's certificjUe
should be obtained to settle the doubts of the
station-agent or train-conductor before admit-
ting a suspected person on the train. As ani-
mals are generally shipped only at a few im-
portant stations, it would be easy to have the
herds inspected by an expert beforehand.*

It is beyond question that manj' animals are
destroyed, and still more injured, during trans-
portation by overcrowding and by confinement
i-oo long without food and water. Strict rules
should be framed to govern this kind of traf-
ij, and nothing short of special supervision
can secure their enforcement. Safety requires
that this supervision should be exercised from
a sanitary standpoint, and so constantly that
;ts influence may never be wanting. ,

6. The experience of the yellow fever epi-
demic of 1878 taught the managers of railroads
running out of New Orleans particularly the
usefulness of medical officers in their service
during actual or threatened pestilence. The
judicious efforts of sanitarians in 1879 pre-
vented a general resort to the shot-gun quar-
antines which characterized the year 1878. Had
there been a sanitary organization in 1878 up-
on the railroads, it is certain that they would
have been spared much pecuniary loss, and the
people along their lines much needless alarm
and deprivation of the comforts of life.

In the presence of danger from pestilence,
people look to their physicians. The medical
adviser of a railroad company can come to a ra-
tional and probablj' satisfactory understanding
with his professional brethren; and, if the peo-
ple are distrustful, he can bring other medical
men to meet them whom they will trust.

Occasions arise when legislation, or discus-
sion of questions in medical or other bodies,
might effect the sanitary and material interests
of railroads, and when their accredited medi
cal representatives might be of great benefit.
Their value would be most appreciated in their
absence, as with life preservers in shipwreck.

But whatever advantages may be claimed for

* Since the above was written, a Kentncky stock-
dealer has informed me that he suffered a loss of more
than f 8,000 a few years ago from glandered horses and
mules, which he is satisfied were infected in railroad
cars. This he was constrained to bear without recourse
to the ti-ansportation comoanies, from diflaculty of ee-
tabliahing proof and aversion to litigation.

railroad sanitation, either to the public or to
the companies, the question of its adoption by
any management will turn upon its probable
financial success. It seems to be generally
agreed that any system of relief maintained by
a railroad company is better than to let the
victims of accidents shift for themselves and
look for reimbursement from the courts. To
put the service directly under the general man-
agement would be like leaving the workshops
or the operation of the road without separate
supervision. The superintendence is an ex-
pense, but it is not presumed that men are best
judges of what they are to do at a particular
time, though they may know how to do it.

As to physical defects, there can be but little
doubt that it will cost a company more to find
them out by a series of accidents, than to pay
an expert to discover them before the men are
trusted with lives and property.

In fact, every feature of this service is de-
signed to secure the company gainst pecuni-
iary loss : 1, by reducing the cost of actual dis-
asters to the lowest amount ; 2, by adopting
precautions to obviate disasters; 3, by preserv-
ing the health and securing the efficiency of
employes ; 4, by avoiding the stigma of "com-
mon carriers" of contagion and destroyers of
live stock, with its incidental losses ; 5, by ob-
viating interruption of business through quar-
antine obstructions and expensive lawsuits for
damages to person and property. It has there-
fore the essential nature of insurance, with the
substitution of the element of prevention tot
that of relmbursermrd. What a gain would it be
to fire and marine insurance if this substitu-
tion could be achieved by any system capable
of formulation,

A few remarks upon the personnel of a rail-
road sanitary service might here be appropri-
ate. Suppose 1,000 miles of single track road
to be under the same general management, one
medical man should be capable of exercising
sanitary superintendence of the whole. But it
is to be understood that he must renounce pri-
vate practice and every other occupation ex-
cept this duty. Then there should be a dis-
trict surgeon at every point where the crews o£
trains shift. The work shops would naturally
fall into this arrangement. District surgeoni
would attend the hospitals and be sent for in
case of accidents within their own cr adjoining
districts. These surgeons might attend to pri-
vate practice. Their compensation from the
company would be according to a settled tariff
for surgical cases. Hospital service and the

y^='^:a-J£jSt^

i^^sLiii^,:^ .1

AMERICAN RAILROAD JOURNAL.

r^Y'-

medical attendance of employes and their fam-
ilies might be at a fixed salary. I

Examinations for physical condition of em-
ployes would be made and carefully recorded
by the chief surgeon, and he would also be the
inspector of hospitals and all wounded per-
sons. At every point where cattle in large
numbers are shipped, there must be an inspec-
tor of stock (a physician or veterinarian^ to
see that no diseased animals are admitted and
the rules enforced relative to overcrowding, etc.

In addition to the above, it might be expe-
dient to make arrangements with local pbysi-
cians at all important stations along the line.s to
render service, in case of accidents, at fixed
rates of compensation. 1

I cannot doubt that such a sanitary organi-
zation would conduce to the common benefit
of companies and employes : to the later, by
contributing to their health and comfort ; to
the former, by diminishing interruptions and
derangements in their operations ; while their
mutual relations would become more harmoni-
ous and friendly, and danger of strikes and
riots correspondingly diminished. In like man-
ner its influence would be salutary, as affect-
ing the relations of the company with the pub-
lic. Norwithstanding the proverbial reckless-
ness of the average American traveler touching
his personal satet^y, there is a large fraction
who value security from preventable accidents
and diseases, and would manifest preference
for a management where this consideration is
recognized, ihey are the most intelligent and
influential portion of the public and the best
patrons of transportation companies.

In the rivalry of numerous and competing
routes, managers are wont to boast of the ad-
vantages wfiich they offer in respect to econ-
omy, speed, comfort, and even safety. Lib-
eral expenditures are made to promote speed
and comfort, in the confident expectation that
they will be returned in augmented business
receipts. It is certain that much might be
done for promoting Siifety in the manner here-
in indicated, and that the public might be in-
vited to appreciate the offer through the usual
advertising mediums. There is good reason to
presume that many would be sensible to such
an inducement and give preference to the safer
pathway. Thus the premium on the insurance
would be returned, and the saving of life and
property \70uld be clear gain. I

THE END.

Union Pacific Railway.

The Secretary of the Interior has transmitted
to Congress the report of the Government
Directors of the Union Pacific Railway Com-
pany for 1881. The Directors claim that enor-
mous benefits have resulted in the West from
the completion of this railroad in developing
latent resources. The report contains a detail-
ed statement of the progress made in the con-
struction of branch lines and of changes in the
main road itself calculated to increase its effi-
ciency. There were 75,692 acres of land sold
for the nine months ending November 30,
1879, at an average of $4.93 per acre. The
local earnings of the company are said to be
now 90 per cent of the surplus earnings, while
at the beginning of its operations the through

, ^JLT.- iH. ^Ji,

'■■'■■:■ > X ■:■•■■■ '-' ■

freight represented 70 per cent of the earnings.
The Directors have not considered it necessary
to go into the financial operations of the com-
pany, as these matters are embraced in the
report to the Auditor of Railroad Accounts,
which has been published. Speaking of the
general condition of the road, the Directors say
the track from Council Bluffs to Ogden could
scarcely be in better condition. There is no
smoother running road in the country. It is
well ballasted with good cross-ties at suitable
distances ap.nrt, and all but about 50 miles has
been laid with steel rails. Every effort is
raacje to keep the road in complete repair. Be-
tween Council Bluffs, Iowa, and Ogden, Utah,
there were laid during 1881, up to September 1,
17,559.54 tons of steel rails, which would be
equivalent to aboiit 192 miles of steel track laid
during the season. Several hundred feet of
pile bridges have been filed with embankment,
and the road has been raised and widened in
many places. The maximum grade was origi-
nallj' 79.2 feet per mile. It has been a constant
source of annoyance to the company, often re-
quiring the division of freight trains to pass
the steep grades. It has been reduced to 21
feet per mile, and 50 cars will be as easily
hauled as 18 were before the change. It re-
quired a large outlay, not only to remove the
earth, but to build the embankment necessary
to overcome this grade. The unprecedented
freshets in the Spring of 1881, and the long
continued high water, worked serious damage
to a considerable portion of the road in the
Platte Valley, East of Columbus. All these
damages have been repaired, and the road-bed
has been raised at exposed places to high-water
mark, all along the line through the Platte
V.illey from Elkhorn to Columbus. The Direc-
tors comment upon the great tide of immigra-
tion now nowing to the West, and say it is
likely to increase for years to come. In con-
clusion the report says that there can no
longer be a doubt as to the ability of the Union
Pacific Railway Company to pay back every
dollar it has received from the Goverment for
construction pxirposes.

Heat in Silver Mines.

If there are to be found anjrwhere in the
world a set of human salamanders we may
claim the credit of having them here on the
CorDstock. What would scorch a man who
lives wholly on the surface chills a miner
inured to the heat of the lower levels. A miner
who has been for some months past working in
one of the hottest sections of the Comstock, a
day or two since gave an Enterprise reporter his
experience of the heat which miners are often
called upon to encounter. He says that, in
working at points where the thermometer
marks a temperature of 115 to 120 degrees great
thirst is experienced. No ice-water is too cold
to be swallowed with a relish. Men go to the
water-barrel, in which huge chunks of ice are
floating about, and will take their picks and
chop up the ice in order that the water may be
rendered colder by being filled with fine frag-
ments. Often this does not satisfy them, and
they chew and swallow lumps of ice. The
natural temperature of the human body is
about 98 degrees Fahrenheit. Therefore when

a man reraain.s in a hot place for an hour, or
even half an hour, his blood and his whole
body become heated to a temperature of 115,
120 degrees, or whatever may be the tempera-
*;ure of the place in which he is at work. It is
then that the miner begins to pour down ice-
water and eat ice. The strangest thing about
the business is that it does not hurt any of the
men. Often they swallow such quantities of
ice-water that their stomachs will not retain it,
and in vomiting it up it will feel cold in their
mouths and against their teeth. All thej' do on
such occassions is to swallow more of the same
water, but more cautiously. — Virginia (JVeu.)

Enterprise. !• •

Imports of Dry Goods at New York.

The Imports of Foreign Dry Goods at New
York for the month of January, were :

ENTERED FOR CONSUMPTION.

1880.

1881.

1882.

Manufs. of wool —

f 1.516,412

$1,311,541

$1.868,C98

Maniifs. of cotton. . .

2,346.615

2,498,788

2.776.525

Manufs. of silk

2.374,558

2,032,814

2,922.136

Maniifs. flax

1.710,446

964.717

1.037,0.3

Miscell. dry goods . . .

660,038

607.390

767.153

Total ent. for con-

sumption

$8,608,069

$7,415,250

$9,641,835

WITHDRAWN FROM WAREHOUSE.

1880.

1881.

1882.

Maniifs. of wool

$498,983

• $6;,'5.492

$544,319

Manufs. of cotton...

4G1,74G

930,999

658.110

Manufs. of silk

407,144

580.233

518.853

Manufs. of flax

490,664

6.S4.183

468,336

Miscell. dry goods..

154.064

194.572

197,925

Total withdr'n from

warehouse

$2,012,601

$3.0S5.479

$2,387,543

Add ent. for con

8.608.069

7.415,250

9.641,836

Total thrown on the

market

$10,620,670

$10,500,729

$12.0'i9.378

ENTERED FOR Warehousing.

1880.

1881.

1882. ;

Manufs. of wool

$501,638

$578,274

$643,490

Manufs. of cotton..

416,839

735.142

752.097 1

Manufs. of silk

326,731

528,088

585.035 i

Manufs. of flax

658,025

619,307

481.184 j

Mis. dry goods

203,579

25-^,4'i6

222,799

Total ent. for ware-

house

$2,106,812

$2,713,236

$2,684,605

Add entered for con-

sumption

8,008.069

7.415,250

9.641.835 i

Total entered at portSlO.7 14.881 $10,128,486 $12,326,440

The Imports of Foreign Dry Goods at New

York for seven months ending with January

were :

ENTERED FOR CONSUMPTION.

1880.

1881.

1882.

Manufs.

of wool. . .

$10,388,185

$10,121,729

$12,229,246

Manufs.

of cotton

9.967,255

n.L- 6.180

12,544,501

Manufs.

of silk

15.631.545

15.932.311

19.681,306

Man Ills of flax. . . .

7,5i!9.117

5,t)58.476

7.565,901

Mis. dry

goods. ...
Qtered for

4.100,959

4.541.256

4.98.5,174

Total e

consumption . . .

$47,687,061

?47.409,952

$57,006,188

WITHDRAWN FROM WAREHOUSE.

188J.

1831.

1832.

Manufs.

of wool. .

$3.80,^235

S6.888.429

?4.785.838

Manufs.

of cotton.

1.991,538

3.1-30.125

2.233.038

Manufs.

of Silk....

2.347.272

4.0-29,116

3.031.738

Manufs.

of flax...

2,216.974

3.032,428

2.420.309

Mis. dry goods

834.818

1.28f<,7£4

1. '^91. 743

Total withdrawn

fromwirehouse. $11,198,837 $17,363,852 $13,762,660
Add entered for

consumption . . . 47.687.001 47.409.952 57.006.188

Total thrown on
the market $58,885,898

$64,778,804 $70,768,864

ENTERED FOR WAREHOUSING.

Manufs.
Manuls.
Manuls.
Manufs.
Mis. dry

of wool...
of cotton.

of silk

of flax

goods

1880.

$3,790,776

2.026.563

2,457.605

2,746.i)00

993,842

1881.
$5,977,403
3.117.705
4.123,580
3.15cJ.893
1.834.693

1882.
?4.199,178
2,246.313
3,'^62,829
2,392.346
1.339.347

Total entered for

warehouse $12,015,346 $18,212,272 $13,440,018

Add entered for

consumption . . . 47,687,061 47.409.952 57.003.188

Total ent. at port. $59,702,407 $65,622,225 $70,446,208

The figures given above represent the net

gold value of the goods as invoiced, without

the addition of freight or duty.

-'., :.•., !v,;ij..iiif!

AMERICAN RAILROAD JOURNAL

I 67

PUBLISHED WEEKLY BY THE

AMERICAN BAILROAD JOURNAL CO.,
At 23 Liberty Street, New York.

SxibBcription, ppr annnm. in advance $5 00

Foreign Subscription, including postage 6 00

Pnrchasep for the American Railtioad .TotniN*T> Co. are
tnthorized only by the written order of Geo. F. Swain,
Treastirer: and (he Company will not be respousible lor
the payment of bill.s nulesp accompanied by such order.

Subscribers are requested to report to our office any
irregularity in receiving the Jouenal.

Contributed articles relating to Railroad matters gen-
erally. Milling interests. Banking and Financial items.
Agricultural development, and Manufacturing news, by
those who are I'amiliar with these subjects, are especial-
ly desired.

PaymeutB for advertising and subscriptions should be
made by check payable to order of the Treasurer.

BRANCH OFFICE:
53 Devonshire St., Boston, Mass.

Mr. FnEDKTiic Aloak, Nos. 11 and 12 Clements Lane,
Lombard Street, London, E. C, England, is the author-
ized European Agent for the Journal.

New York, Saturday, February 4, 1882.

Entered at the Post Office at Xew York City as Second-Class
Mail Matter.

LEGAL RIGH^TS OF PASSENGERS.

rpHE recent disaster at Spuy ten Duy vil sharp-
ly emphasizes several features in present
systems of railroad management. The accident
has occurred, the dead cannot be brought to
life, the injuries received cannot be repaired
with money, no adequate reparation can be
made for wounded hearts. But does the law
provide no remedy whatever in such cases?
Must travelers injured on a railroad accept a
coroner's verdict in full satisfaction for broken
bones? What remedies have the relatives of
the persons killed in that terrible disaster?
What remedies have the survivors ? What are
the legal rights of passengers who have been
injured in a railroad collision ?

The general rule is that where an injury
happens to a passengers on a railroad the per-
son injured makes out a prima facie case by
showing that he had a ticket, that the accident
happened, and that in consequence of this acci-
dent he sustained damage. When these facts
are made to appear, it is for the railroad com-
pany to excuse the prima facie failure of duty ;
to show that, notwithstanding, the accident
happened in spiie of the use, by the company,
its servants, and the contractors by whom its
road, appliances, and coaches are built, of the
greatest degree of diligence practicable under
the circumstances. In other words, it must
show, in order to rebut this presumption, that
the accident resulted from circumstnnces
against which human care and foresight could
notguard. ,.:;.;;;.;:.;:

Carriers of passengers are bound to use ex-
traordinary care and skill to secure the safety
of their passengers. In the language of the

New York State Court of Appeals, it has been
said that •' every wayfarer must take the risks
incident to the mode of travel he adopts ; but
these risks are only those which cannot be
avoided by the carrier of passengers by the
utmost degree of care and skill in the prepara-
tion and management of the means of convey-
ance." The Supreme Court of the United
States expresses the doctrine more strongly
when it says, "When carriers undertake to
convey persons by the powerful but dangerous
agency of steam, public policy and safety
require that they shall be held to the greatest
possible care and diligence. The personal
safety of passengers should not be left to the
sport of chance or negligence of careless agents-
Any negligence in such cases may well de-
serve the epithet of 'gross.'" Railroad com-
panies must adopt such rules and regulations
for the running of itheir trains as will insure
safety, and after adopting them they must eon'
form to them or be responsible for injuries to
passengers resulting from a departure from
them.

Inasmuch as a railroad company, like other
corporations, must become liable for the most
part through the acts of its servants or
agents, it is liable for the acts of the servants
in its employment, although its servants do
not follow or actually disobey its instructions,
general or special. It is no answer for a
railroad company to s:"iy that the negligence of
n stranger concurred with the negligence of the
company to the injury of a passenger. If the
New York Central Railroad can i^rove, for
instance, that the primary cause of the acci-
dent at Spuyten Duyvil was the pulling of the
cord of the air brake by one of the passengers
it will not relieve it from the failure of the
brakeman Melius to go back, or from any other
negligence on its part which contributed to the
injur}'. Assuming the facts to be as stated by
newspaper reports,the survivors of the accident
have an undoubted cause of action against the
railroad company. ,

The damages recoverable for the bodily
pain and suffering of those injured are not
limited to the suffering experienced before the
trial of the case, but extend to such future
suffering as will probably result from such in-
juries. At common law, where a person was
killed by the negligence of a person or corpora-
tion no right of action survived ; but the
statute law of England, which has been fol-
lowed in New York State, provides an action
for damages not to exceed five thousand dollars
in case of death upon a railroad, caused by the
fault of the company, although such death
was instantaneous. There can be no doubt
whatever but that the injured survivors of the

Spuy ten Duj'vil disaster and the relatives of
those who were killed in that accident have a
complete remedy at law, although that remedy
is lamentably inadequate. I

We have no reason to believe that the New
York Central Railroad will refuse to make all
the reparation in their po\\er to the friends of
those who were injured, but we have very
briefly stated the !aw applicable in such cases,
thinking that it might be of general interest.

TRUST COMPAWTES.

\ TRUST company differs, or should differ,
from a National or a State bank in sev-
eral particulars. In the first place a Trust
Company should never be a bank of issue ;
that i.s, it should have no circulation of its own,
no bills or notes on the market subject to re-
demption on demand. In the second place, it
.should never be a bank of discount. National
and State banks can rightfuUj' take the risk of
discounting paper for their depositors, for as
a rule they h-jld no funds in trust, and are or-
ganized as mediums of exchange between bus-
iness men. A Trust Company, however, is not
designed as any such medium, and in its ca-
pacitj' of a guardian cannot assume the usual
business risks. In the third place a Trust
Company should never for an instant engage in
any speculative enterprises, either in the in-
vestment or loaning of its monej's. no matter
how fair a promise such enterprises may give.
The object of a Trust Company is not so much
to make money as to carefully guard and return
with a fair interest when called for the funds
committed to its care. In addition to the above
there are other things a Trust Company should
not attempt, but these three that are mention-
ed will serve to guide the mind in that direction
sufficiently for all intents and purposes. These
thoughts lead us to the contemplation of what
is the object and what the purposes of a Trust
Company, The name implies that such a com-
pany is a corporation formed for the purpose
of holding property in trust. i

This is so broad and comprehensive that we
have taken the pamphlet of one of our safest
Boston companies, to specify these purposes
in detail.

•' Said corporation shall have power to re-
ceive and hold moneys or property in trust or
on deposit from courts of law or equitj', in-
cluding courts of probate and insolvency, ex-
ecutors, administrators, assignees, guardians,
trustees, corporations, or individuals, upon
such terms or conditions as may be obtained
or agreed upon."

In harmony with the foregoing powers the
courts are authorized to direct, by decree or
otherwise, any moneys or property under their
control, to be deposited with such companies,
provided said companies shall assent ta exe-
cute the trust to be committed to theixL

Vfftfr.M-ilrtai'iiiMi'i'iif riiifaJV iridiY" • ,uii'fr- ■■ '-'riir

• PPr'?\

AMERICAN RAILROAD JOURNAL.

"With such almost unlimited powers of re-
ceiving moneys and property, and the courts
so fully authorized to use them as depositories,

. it follows as an act of wise legislation that the
act of incorporation should regulate by law
the character of investments for such a compa-
ny. These investments for this Boston com-

" pany are specified to be, the authorized loans
of the United States, or any of the New Eng-
land States; or counties, cities or towns of any
of the New England States ; in the first mort-
gage bonds of any railroad company which has
earned and paid regular dividends for two years
preceding such investment, or in the bonds of
any such railroad company as is unencumbered
by mortgage, or in the stock of such railroad
companies incorporated by this State ; and the
said corporation may make loans upon mort-
gages on real estate within this commonwealth,
or upon the notes of corporations created under
the laws of this commonwealth, and the notes
of individuals with a sufl&cient pledge as collat-
eral of any of the aforesaid securities- In fact,
such a company may invest in those securities
which are permitted to savings banks and under
like restrictions. The Commonwealth granting
the act of incorporation provides for certain
stated examinations by the savings bank com-
missioner, which, with the examinations given
by the committee appointed by the director.^
and stockholders, do not leave much room fox
malfeasance in office^ except through the crim-
inal reglect of those examining, |

But something more is needed than what
has already been stated in order to secure ab-
solute safety. A corporation which is author-
ized to act as agent for the purpose of issuing,
registering, or countersigning the certificates ol
stock, bonds, or other evidences of indebted-
ness of any corporation, association, munici-
pality, state or public authority, and to receive
and make payments on account of the same,
require a safeguard more absolute than is cov-
ered by the honesty of its employes and the
examination by properly appointed officials.
Such a corporation requires that the men own-
ing the stock — the individual stockholders—shall
severally and collectively be men of undoubted
character as well as ability. The New England
Trust Company of Boston meets this point
with a courage that is worthy of imitation.
In their By-Laws appear the following articles.

Appraisal akd Sale of Shares of Capital

Stock.
Article. 7. Any member of this corporation
who shall be desirous of selling any of hi.^
shares; the executor or administrator of any
member deceased; and the gr.mtee or a.ssignee
of any shares sold on execution, shall cause
such, their shares respectively, to be appraised
by the directors, which it shall be their iluty to
do oil request, and shall thereupon offer the
same to them for the use of the corporation, at
such appraised value; and if said diiectors shall

choose to take such shares for the use of the
corporation, such member, executor, adminis-
trator, or assignee shall, upon the payment or
tender to him of such appraised value thereof,
and the dividends due thereon, transfer and
assign such share or shares to said corporation;
provided, however, the .said directors shall not
be obliged to take such shares at the appraised
value aforesaid, unless they shall think it for
the interests of the company ; and if they shall
not, within ten days after such shares are of-
fered to them in writing, take the same and
pay sucli member, executor, administrator, or
a.ssignee therefor the price at which the same
.shall have been appraised, such member, ex-
ecutor, administrator, or assignee shall be at
liberty to sell and dispose of the same shares to
any person whatever.

Article 7. (Amended January IG, 1878.) It
shall be the duty of such executor, administra-
tor, grantee or assignee to offer said shares for
appraisal and to be taken by the corporation,
if it shall so elect, whenever requested by the
Actuary or Secretarj-, and no dividends or in-
terest shall be paid or allowed after a failure
to comply with such request : provided, that
such request shall not be made until after the
payment of one dividend and the expiration oi
six months from the death of the owner, or sale
as aforesaid; but the offer may be made at any
earlier period if the party shall prefer.

Article. 8. The directors shall have power,
and it shall be their duty, to sell and dispose
of the shares which may be transferred as afore-
said to the corporation, whenever, in their
judgment, it can be done with safety and ad-
vantage to the corporation; and in all sales
made by the directors, under any of the afore-
said provisions, it shall be their duty to sell
the shares to such persons as shall appear to
thorn, from their situation and character, most
likely to promote confidence in the stability ol
the institution ; no greater number than one
hundred shares being assigned to any one per-
son ; nor in the case of a person already amem-
l)er, a gre.ater number than will be sufficient to
increase his previous number to one hundred
shares.

So far this company has strictly adhered to
these articles, and all stock offered has been
bought by the company ; and the stock thus
bought has been sold by the compan}', the di-
rectors voting on the list of applicants as to
who should be elected to become a stockholder.
By strictly adhering to these articles, a compa-
ny originally composed of the best citizens of
Boston has been enabled to always remain
the same, as these men, having all the power,
are careful not to associate with themselves

men of doubtful character or speculative tend-
encies.

Now as railroad companies have great need
and use for ju.st such corporat-ons, it well be-
comes the directors of these roads to pay par-
ticular attention to the question of who are the
stockholders of a Trust Company before giving
it power to act as its agent. That Trust
Company whose stock is hawked about or sold
in open market is liable sooner or later to fall
into the hands of designing men who will ma-
nipulate its moneys to the detriment of all inter-
ested. The National and State banks cannot
well be close corporations, but a Trust Compa-
ny should never be anything else. Here is a
point about which railroad companies have not
been strenuous enough, and we call their at-
tentiop to it, in their dealings with Trust Com-
panies.

CONSTRUCTION.

Hoese-car lines are projected between many
villages in Italy on the roads built by the old
Romans. . j

The track of the Guaymas Eailroad in Sonora
is now laid to within 20 miles of Hermosillo,
and it is being extended at the rate of a mile
and a half per day. I

The terminus of the Pembina Mountain
branch of the Canada Pacific Eailway has been
definitely located on N ^, sec. 30, Tp. 3, R 8,
the site of Manitoba City.

The Northern and Union Pacific Railroad
companies have arranged for a third rail on
the Utah Northern, so that equal privileges can
be enjoyed at Helena and Butte, Montana.

The work of construction on the California
Southern Railroad is being vigorously pushed.
On the 18th ult. the track was four miles above
San Ysadora, on the Santa Margarita Ranch.

The new ferry boat Jamaica, built for the
Nassau Ferry Company of New York, was
launched from the Harlan & Hollingsworth
yard, in Wilmington, Delaware, on the 31st
ult. V ' \ ' '-

It is announced in Rochester that the New
York, Lake Erie and Western Railroad Com-
pany has decided to build aline from Dansville,
Livingston county, to join the main line at
Burns, Alleghany county.

The contract for building a railway tunnel
under the St. Lawrence river, at Montreal, has
been awarded to J. B. Roailliard, for $3,500,-
000, including drainage and lighting complete,
the work to be finished in 1885. ,

The New Bedford Standard says that the
Whitney Company have abandoned the project
of constructing the Cape Cod Canal, careful
estimates made on the recent surveys showing
the cost to be more than a million dollars above
what was expected. I

The contract for building the Pemigewassett
Valley Railroad has been awarded to Patrick
Kiernan, of Chelsea, Mass., who has already
sublet most of the work. Operations are to
begin February 8, and the road is to be finish-
ed to Woodstock by November 1. 1

The superintendent of the Boston and Maine
Railroad purposes to inclose the heater in every
new car which he builds in a compartment of
riveted boiler iron. The extra expense will be
only $100, a small sum compared with the cost
of a car and the dangers thus avoided.

It is reported that the Canada Pacific Rail-
way Company have enough material now at the
end of their track beyond Brandon to construct
upward of twenty miles additional road, and
expect to have enough forwarded to tbe same
point by the first of May to construct 300 miles
of road next season.

The engineers of the Philadelphia and Read-
ing Railroad Company commenced on the 30th
ult. the survey for a new branch road connect-
ing Shamckin and Danville. This is one of
the necessities of the recent connection of the
Pine Creek road with the New Y'ork Central
branch at Williamsport, and will be a short
cut from the East Mahanoy coal fields. At
present all the coal destined for the West must

. '• :ifa,'^Vib.[k*>&a*'^w.'H4

yj&j'llt&'l:

r n" '-■■iJbkl

■^V^.^J«^

AMERICAN RAILROAD JOURNAL.

be carried around the two sides of a triangle
via East Mahanoy and the Catawissa Railroad
to Danville, making in all about sixty miles.
The new branch will be only fifteen miles in
length. ' : ';

The project of extending the Ulster and Del-
aware Railway from Stamford, its present west-
ern terminus, to Cooperstown, a distance of 22
miles west, is being again agitated by the citi-
zens of the latter village. It is claimed that by
such extension a considerable saving of dis-
tance and time between that point and New
York and other leading points would be effected.

The Richmond and Danville Company have
completed the Western North Carolina Rail-
road to Paint Rock and Pigeon River. Trains
are now running to both points. This com-
pletion was made within the time as extended
by Gov. Jarvis and treasurer J. M. Worth, and
put an end to all talk of a forfeiture of the con
tract because the road was not completed by
November 1, 1881.

The New York, Lackawanna and Western
Railroad has been completed in single track
for a distance of 146 miles, leaving only 40 or
50 miles of track more to be laid. This com-
pleted distance is not in one continuous line,
but the road has been finished with double
track as f.ar west as Waverly, to which place
trains are running regularly. It is expected
that the line will be extended at an early day
as far as Elmira.

PERSONAIi.

James A. Millholland manager of the

Georges Creek and Cumberland Railroad, has

inventad an important improvement in the
coal-car brake.

John Thomas has received the appointment
of general superintendent of the Chicago divi-
sion of the Baltimore and Ohio Railroad, with
headquarters at Chicago. .

Dr. H. 0. Walker has received the appoint-
ment of surgeon of the Wabash, St. Louis and
Pacific Railway for all points on the line be-
tween Detroit and Adrian.

B. E. Nichols has been appointed traveling
freight agent of the Illinois branch and the
Springfield division of the Illinois Central
Railroad, in place of W. W. Chamberlain, re-
signed.

Wm. E. R'utter, of Elmira, N. Y., car tracer
of the Pennsylvania Railroad, and father of
James H. Rutter, third vice-president of the
New York Central and Hudson River Railroad,
died suddenly on Saturday of heart disease,
aged 70. ^r: ...-;:" ^":

The mother of the Marquis of Bath, whom
the Prince and Princess of Wales visited last
month, was a Baring, and her son is credited
with the remark that it would take two genera-
tions to wash the stain of commercial blood off
his escutcheon.

When the Central Vermont Railroad was
built, J. R. Booth of Burlington worked as a
common bridge hand. Now he is the largest
timber limit owner in Canada, owning 2,225
square miles, or 1,423,300 acres— an area equal
to more than one-fifth of the State of Vermont.

Wm. J. Walkbe, late of the Gilsey House,

New York, has been appointed superintendent
of the Baltimore and Ohio Railroad Company's
hotels. His headquarters will be at the Queen
City Hotel, at Cumberland, Md. Mr. Walker
succeeds Captain J. P. Dukehart, who has held
the position of manager of the company's hotels
for about two years.

At a meeting of the directors of the St. Louis
and San Francisco Railroad in this city on the
27th ult.. Jay Gould, Russell Sage, C. P. Hun-
tington and Leland Stanford were elected
members o£ the board. Places \rere made for
them by the resignation of Walter L. Frost,
Alden Speare and Francis B. Hayes of Boston ;
and Ozias Bailev of White Cloud, Kansas.

S. T. Fuller has been appointed general
siiperintendent and chief engineer of the
Northern division of the Mexican National
Construction Company and the Mexican
National Railway Company, as also general
superintendent and chief engineer of the Texas-
Mexican Railway. His duties as general sup-
erintendent and chief engineer will extend
over all the lines of these companies north of
San Luis Potosi, including the Matamoras
division.

It will doubtless be remembered by many
that Marcus Morton was elected Governor of
Massachusetts by one vote. After his retire-
ment from oflSce, the Governor was going to
Boston from a neighboring town in a train
which was late. It was half past 12 o'clock,
and a lady who was anxious to be in Boston
inquired of the Governor what time, in his
opinion, the train would reach the station.
Taking out his watch, and with a twinkle in
his eye, he replied, "I generally get in by

one.

ORGANIZATION.

The directors of the Providence, Warren and
Bristol Railroad Company, elected on the 30tL
ult., are : T. P. I. Goddard, William R. Robe
son, Henry A. Whitney, William Goddard,
Francis M. Weld and Royal C. Taft. Mr. Whit-
ney was re-elected president.

At the recent annual meeting of the Elkhart,
Niles and Lake Michigan Railroad Company,
the following directors were elected : F. M.
Gray, Thomas L. Stevens, E. L. Badger, J. C.
Larimore, of Niles ; H. W. Williams, of Ben-
ton Harbor ; J. Wade, W. S. Jones, Cleveland;
C. W. Beck, Elkhart ; C. E. Cowgill, Wabash.
At a meeting of the directors F. M. Gray was
elected president ; E. S. Badger, vice-presi-
dent ; J. C. Larimore, treasurer ; and George
F. Edwards, secretary.

The stockholders of the Cambria Iron Com-
pany, at their recent meeting in Philadelphia,
re-elected the following board of directors : E.
Y. Townsend, D. J. Morrel, C. S. Wurtz, John
M. Kennedy, Geo. L. Oliver, Samuel Welsh, I.
V. Williamson, David Reeves and Henry Lewis.
At a subsequent meeting of the directors, E. Y.
Townsend was re-elected president ; Charles
Wurtz, vice-president ; Daniel J. Morrell, gen-
eral manager ; John T. Kille, treasurer, and
W. S. Robinson, secretary. ::

At the annual meeting of the Fitchburg Rail-
road Company, held in Boston on the 31st ult.,
the following gentlemen were unanimously

el*!cted directors, the first five being of the
old board : William B. Steams, Seth Bemis,
Robert Codman, Rodney Wallace, C. U.
Cotting, Franklin N. Poor, and Charles T.
Crocker. Subsequentlj' the directors organized
by the choice of William B. Steams as presi-
dent; T. Whittemore, clerk ; and M. D. Benson,
treasurer.

The first annual meeting of the stockholders
of the New York, Chicf^o and St. Louis Rail-
way Company Mas held at Cleveland. Ohio, on
the 31st ult., at which the following directors
were unanimously elected : C. R. Cummings, of
Chicago, 111. ; C. S. Brice, of Lima, Ohio ; Sam-
uel Thomas, of Columbus, Ohio ; .Daniel P.
Eells, of Cleveland, Ohio ; Gov. Charles Foster,
of Fostoria, Ohio ; George I. Seney John T.
Martin, H. R. Lyman, Walston H. Brown, Wil-
liam Flannery, and Alexander White. No re-
port was made.

The following gentlemen were elected direc-
tors of the Jersej' Shore, Pine Creek and Buffa-
lo Railroad Company, at the annual meeting of
the stockholders held at Coudersport, Penn.,
on the 23d ult.: Walter Sherwood, John W.
Bailey, Jerome B. Niles, Anson Hardt, William
Howell, Jr., E. G. Schieffeline, Jefferson Harri-
son, William H. Vanderbilt, Cornelius Vander-
bilt, Augustus Schell, William K. Vanderbilt,

George J.

Magee.

The officers are Henry

Sherwood, president ; George S. Magee, vice-
president ; Cornelius Vanderbilt, treasurer.

At a meeting of the stockholders of the Allen
Paper Car Wheel Company, held the first day
of Februarj', 1882, the following named persons
were elected directors of the company, for the
ensuing year : A. G. Darwin, A. P. Condit, R.
J. Beach, J. C. Beach, Stephen F. Gale, J. E.
Gillette, R. N. Allen, C. G. Hammond, Geo. C.
Clarke. Subsequently, at a meeting of the
board of directors, the following officers were
elected : A. G. Darwin, president ; J. E. Gil-
lette, 1st vice-president : Geo. C. Clarke, 2nd
vice-president ; J. C. Beach, treasurer, C. H.

Antes, secretary.

Discipline.

The absence of discipline among subordi-
nates is usually attributed to a lack of that ca-
pacity in the management, as the successful
and competent chief, if possessed of the organ-
izing and executive ability demanded by his
position, is expected to display the neces-
sary power for diffusing his system throughout
all branches of the service.

Discipline, if properly administered, always
commends itself to intelligent subordinates,
and they soon hold that superior in high esteem
who requires a strict obedience to every order,
by which their own as well as the public safety
is assured. They become inspired, under such
control, with a true pride of office, siich as is
known in military circles as '* esprit de corps."

A competent and thorough disciplinarian is
never a tyrant, but exhibits a wholesome con-
trol, is easily approached, and has a willing
ear for all wrongs. His power proceeds from
unremitting attention to his own duties and
his personal recognition of all orders, rather
than from any severity of manner ; though the
penalty of disobedience may and should be
swift and sure.

mmmf

Wm^f^Km '".-" l«p!J»^.«J!"^VJ..U-"^»tU; ' J""JIU»ll)«,]l!.lf!'iJ*i«.l'..iJi>. ",V*J^\J^'/i|fi-<'l"'

AMERICAN RAILROAD JOURNAL

?M.Tvi- ~j T^. -."-

rnjTt^

New York Stock Exchange.

(Thursday's quotations follow money article.)

Closing Pi'ices Jor the week ending Feb. 1.

Th.26. F.27.Sat.28 .M. Sf. Tu.3l.W.l.

Adams Express HI 147

Albany and Susq 132

1st raortgaye

2d mortgage

American Express.. 93 ^^ U3

Atlantic & Pac. Tel

Burl., C. R. k Nor

1st mortgage 5s..

Canada Southern . .

1st mortgage guar

Central ot N. Jersey

9ft

92 >i

100 !i
53 1^
953-,
94 Ji

54 'J
95 3i
98

100

54»i'
95 ii,-

95^i

115 iis

52 '4
95

100 i

51
95

943i

99Ji

ift'i

Ist mort. 1890 119):^

7s, consol. ass... 115 115

78, convertible ass

78. Income 102

Adjustment 103

Central Pacific 88 >i

gold.

lU.'

80^,'
114 ii

88 ?i »7?i
114

88 Si
114

88 U

116>i l]6>i

39 ^i 39 «i
98 U' 98 ?i

68,

Ist M. (.San Joaq)

IstM. (Cal. & Or.)

Land grant 6s 105?^

Chesapeake & Ohio. 23 >i 24 >i 24 Ji 23;^ 23 Ji

1st, series B 81 >i 81

Chicago and Alton 134 >i 134,^i 13.3% 132 Ji 133

Preferred

1st mortgage 121 ;

Sinking Fund

137 ^i 134

108?^
122 >i

107 ?i
121 >i

134
126

108
121 Ji

135

109
132 >,

119 120

130 ?i 135 j^
140 144

111
124*

133 >i

127 126 ,'4 126%

133 )i

132 '„

126

in2>i
126

81 Ji 78 '4 79,'i

Chi,. Bur. * Quincy I35>i 138
7s, Consol. 1903 126

Chi.. Mil. * St. Paul 107 >i 109 }i

Preferred 122 >i

1st mortgage, Ss

2d mort., 7 3- 10s

78, gold 125

Ist M. (La, C. div)

IstM. I. &M.div.) 119

l8t.M.(I. <t D.ext.)

l8tM. (H.i^D.div.)

lstM.(C.«:M.div.) J22>i 123

Cousohdated S. F. 119 liO 120 ...

Chi. i^ Northwestern 127?^ 1303i 129?4 129

Preferred 139 U 149 ,'i 140 >i 139

1st mortgage

Sinking Fund Gs

Consolidated 7s.. 134
Consol. Gold bo'da 127
Do. reg 127

Chi.. R. Isl. & Pac. 133 ?4
6s. 1917, c

Clev.,Col.,Cin.&Ind. 80 '4
1st mortgage

Clev. & Pittsburg gr 135

7s, Consolidated

4th mortgage

Col..Chi..A:Ind.Cent. 1915^ 19^ 19^ 19 Ji 19,'4' 19 >i

1st mortgage

2d mortgage

Del. & Hud Canal. I08>i 107 107 106;^ lOC.'i 106>,

Keg. 7s, 1891

Reg. 7s. 18!i4 in4>i

7s, 1894

Del., Lack. .^Western 124 Ji

2d mortgage 7s

78, Consol. 1907

Erie Railway

1st mortgage...
2d mort. 5s, ext.

3d mortgage 107 107>_

4th mort. 5s, ext

6tb mortgage 112

7b, Consol. gold

Great West. Ist mort

2d mortgage ,

Hannibal* St. Jo.. 95 '4' 95 '4 95,'^ 95 94 Jf 95 '4

X.V.Cen.&Hud.R. 1307i Hl^ 130>^ 129>i 129^ 130'^;

)?8. K V. 1Sh:< lOiJi

6s, S. F., 1887

1st mortgage 134?^ 133 >i 134

1st mortgage, reg

N. Y. Elevated 109?J 108

Ist mortgage... . 116>i 116>i

N.Y.& Harlem

Preferred

1st mortgage .... 135

1st mortgage, reg

N. Y. , Lake Erie k W 40?^ 40;44 10 '-^ 39

Preferred 81 'a 79

2d Consolidated.. 99^4 100 99 >i 98 ri

New 2d 5s fund 95.'^

M.Y.,N.IIav'n&Hart 17l,;.i

North Mo. 1st mort 119 UOJi

Northern Pacific ... 35 ^ 3') ?i 35 '4 34 '4
rrelerre.l 72^ 74 72*.^ 71?^

Ohio & Mississippi 34,'^ 34>J

-Pralor #>.l

2d mortgage

Consolidated 7s 117>4

Consol. S. Fund

Pacific Mail S. S. Co il^i 42»i iiJi il^i 42

Pacific R. R. of Mo

1st mortgage 110 109

2d mortgage lllii

Panama 15)0

Phila. «: Reading.. 63^^ 5i>4 63 >i Gl'4 GUi
Pitt.«,rt.W.*Chi.gtd

1st mortgage

2d mortgage

3d mortgage

Pullman Palace Car 139 139.^ 140 135% 135 136J
Quicksil'r Min'g Co

33):^

100 '4

171)^
120

31 '4

72 ^i

3314

iVA

62 )i

Preferred 611^

St. Louis & San Fran 41

Preferred 61

1st Preferred 102

St. L., Alfn & T. H. 38

»*x4
64
100 ^J

43 >i
6J
101 >i

6U^

60}^

41 !4
58

36
41

39
81

41(4
57?^
98 >8

35
80

I'JO 109

115

lOJ

125;i

107 ii

119 ij ...

125 'i 124 ,'i 125?i I26?i

107 ;4 109 U 109 107

8.^.'

Prelerred

8s. Convertible

Houston & Tex. Cen >>^)i 83 >$

1st mortgage 111^110

2d mortgage 124

lUinois Central... 134 135 ?i 135 133 V,'

LakeShoreA:MichSo 112 112?i lll?i 103^

Consol. 7s

Consol. 7s, reg

2d Consolidated

Leh. & W. B. 7s, Con

Long Dock bonds

Louisville k Nash. 95 96>4 94 >i 93 '4

78, Consolidated

Manhattan 55 55 'i 54 -'i 54 'i

let pref 97 >i

IfAt. Elevated 81%

1st mortgage lOO'i lOO;?^

Michigan Central.. 86 >i 87 .'i
7s, 1902

Morns « Essex 122 123

Ist mortgage 138

2d mortgage

76 oi JM71 125

Vs, Ouuvert.ole

108 .'i 108^4
80>^

134 'i
llO^i

124
135 ;Ji
111

94^4

Pr(:f eiTed 32

1st mortgage

2d mort. prof 110

Income bonds

St. L., Iron Mt. &S

1st mortgage

2d mortgage 109

Toledo and Wabash

1st mortgage Ill

2d mnrtgaue

7s, Consolidated.. 106 lOJJix

St. Louis Division 112'., ...

Union Pacific 117Ji 117?.-,' 117'i 116^ 1167'i 117>,

1st mortgage 115.'^ 115;?^ 116

Land Grant 73 113 >j

Sinking Fund 88. 123 122

United States Ex...

Wabash, St. L.& Pac

Preferred

New mort. 7s

Wells-Fargo Ex 133>i

Western Pacific b'ds

Western Union Tel. 80 >i 82^ 81 79?i 7!>7i
78.,S.Fconv.,l'.)00 116>i

Feder.\l Stocks :—

U.S. 48, 1907, reg... 118J^ 118'4

U. S. 4s, 1907. coup. 118 H 118 '4

U. S. 4ijs, 18!)1, rog

U.S. 4 'is, 1891, coup

[T. S. 58, 1881, reg

U. S. .5s, cont'd at3^i *.

U. S. Bs cont'd at3'i

Dt. of Col. 3-(>.5s, r<!g

Dt.ofCol.3-65s,coup 107.*4

79 '4

36 '4
68

79 }4

36 ^i
68;-,

78
36 -i
G'l'A

33 'i
6634

35 ^,'
67

36 1„

80-,

Boston Stock Exchange.

[ ^.j Prices for the Week Ending Feb. 1.

i 1 Th.2;. F.27. 8at.28.M.30.Tu.31. W. 1

Atch.,Top.*San.Fe. 90 ,'4 90 >i 80)1 87 863^ 87 *i

1st mortgage 119 Ii8>i

2d mortgage

Land Grant 78 ..... .'.'.'.'.

Boston & Albany 165 166 167(4

7s reg

Boston and Lowell 103 '4

53.«4 53

S6U

86
lOOJ:^

iiby.

100 :i
85*^

100^4

86 '4

123

Boston & Maine. . . .
Bostoui^ Providence
Bos'n.Hart.A: Erie7s
Bnrl.& Mo.R.L.G.78
Burl.& Mo. R. in Neb
63,

43.

145J^ 115,'i 145 145 145 115 )»

65 ii

65^ 02 >i 62?4 64

expmpt 114?,'

Chi.,Burl.& Quincy ISiJi 133)
7s

114

26K

7«, ConsiL^ted | Titchburg I33>i 133>^ l:«>i

Cin..S.and&Clev($50)

Concord ($50)

Connecticut River

EastMT]

New4^i Bonds... 108 >i

137 '4 131 '4
26)i 26

134 135 Vx

25Ji

109

108 >i
134>i

'tr-..^!^;*;,:-'

.•w>.

_.. .1.^- .*.

^V JtA.; 1^. t. f«-;^'.

:i^i.

00% 60
117

in;* 11 r

69
117

N..Y& New England 007^
7s 117>i

Northern N. H

Norwichi^ Worcester

Ogden .^ Lake Cham

Preferred

OldCoIony 124?i 125 124)i

Ph.,Wil.«:Balt.(f50) 64 04

Portl'd.Saco .^ Ports 113?^

Pueblo & Ark Val

7s 115 115 116

Pullman Palace Car 133 141 '4 134 13.5?^

Union Pacific 117>i 118 »4 116 >i 117 )i

Land Grant 7s

Sinking Fund 83. ...

Vermont & Canada

Vermont & Mass 134 134

Worcester k Nashua

Cambridge (Horse)

Metropolitan(Horse) IG^-i

Middlesex (Horse)

Cal.&HeclaMin'gCo 235 231

Quincy 5.J 52 4J>ii 42

55y,

Philadelphia Stock Exchange.

Closing Prices for the M'eek Ending Jan. 31.

W.25. Th.26. r'.27.Sat.28.M.30.Tu.3l

AUegh'y Val. 7 3-108

7k, Income 65

Camd'nA: Am.68, '83

(is, 1889

Mort. 6s, 1889

Camden A: Atlantic

Preferred

1st mortgage

2dra>rtga.;e 165 >i

Catawissa 20 20 20 l.>?4 19?^

Preferred 53^ 51 54 ji 54 J^ 55

7s, new

Del. i^ Bound Brook

7s 128 .... 126

Elmira.VWilliamsp't

Preferred

Hunt. A: B. Top Mt 14.1^

Preferred 27 >i 26 26

2d mortgage

Lehigh Navigation. 42 '4 43 42 Ji 42 ?i 42 >i 42 Ji

6s. 1884 105 105 105

Gold Loan . VAX HO'-i 110;$^

Railroad Loan 11634

Conv. Gold Loan

Consol. Mort. 7s 1165i

Lehigh Valley 62 C2>i 62)i 62>4 01?^ 66>i

1st mort. 68, coup 121 14

134
{56

123

62K

Ist mort. 6s, reg *

2d mort. 7s 134

Consol mort. 6s 118 11834

Consol. mtg.0s,reg ... . 118>i ,

Little Schuylkill... 56 56 66

MinebUl&Sch.Hiv'n 61

North Pennsylvania 62 '.^ 62 62 >J

1st mortgage O3.. 1O6

2d mortgage 7s

Geul. mtg.7s,coup 123

Genl. mtg. 7s, reg

Northern Central 48>a'

5s 96 96

Northern Pacific... 35 35 >i 35 >i 35 '.4 34ii 34
Preferred 72 Ji 73 74 7234 7154 703^

Pennsylvania R. R. 61 V4 61*4 013ji 613^ 60% 603,'

Isl mortgage

i^cn'l mort ^

Gen 1 mort reg

Consol. mort. Os 117

Consol. mort. reg

Pa.StateOs 2d series

do 3d series 100

do 58, new 116

do 3s

Phila. * Reading... 81% 3\% 32^i 3134 30»i 303i

1st mortgage Os

7s of 1893

78, new convert

Consol. mort. 78 126

Consol. uiort. reg

Gen'lmort.Gs 98)i 93*i 98Ji 99 99 fSi,

Philadelphia & Erie 19 19 16

Ist mortgage 58 105 ^i 105^ I063i

2d mortgage 7s 114

Pittsb.,Cin.«:St.L.78 124

Pitt8.,Titusv.&Bufr. I93i

193.f

7s.

124

103.'
102

193i I834' 18>»

12 ?i -123i

Schuylkill Navi't'n

Preferred ,

Cs. 1872 : 107

Cs, 1882 87 >J 89 89 ...

United Co. of N.J. . 185 185 18534 1853^ 186 186

Hestonville, (Horse) 18 18 17

Che8tnut&Wal.(do)

(irueji •'(:Coate8(do)

■VAV.... . . ■ '. ..v^.^^■■''--. . ~fi ,'.- i(i<nnl tint-' - ^— ■ ' ' ^'^'iV.-v/'.^i'-a.l

^-jt ■^^'^•'■■■jiS^'^^-,, »>^V

AMERICAN RAILROAD JOURNAL.

Baltimore Stock Exchange.

Closing Prices for the Week En-iing Jan. 31.

W. 25. Th.26.F.27. Sat.28.M.30.Tn.31.

Baltimore A: Ohio 195 U

6s. 1880

68,1885 107V^

Central Ohio ($50) «0

1st mortgage HI

Marietta & Cincin'ti

1-22 .22 125J^

10 U^ 104 »i 105 Ji 105 ?i 105 J^

53 ^i 58?^ 53 69 58 '.i

105,'^ 105?^

114>^ lU lU

Ist mortgage, 78..
2(1 mortgage, 78..
3d mortijage, 83..

Northern Cen. ($50)
2d mort., 6s 1885..
3(1 mort., 6s, 1900.

6s, 1">00. gold

68,1901, gold 112>i

Orange & Alex. Ist

2d mortgage, 6s

3d mortgage, Ss

4th mortgage, 8s

0.,Alex.&Mana8'8 7s

Pitts.fc Connell8v.78

Virginia 69, Consol.

Consol. coupons. .

10-40 bonds

Defd CertiQcales
Western Maryland 14 ),

1st M.,end.by Bait

2dM.. do

3dM., do

IstM-.nnendors'd

2dM.,end.Wa8hCo

2d M., preferred 106 ...

City Passenger R B 41

431^

64 !i
61
42
15 >i

63 *i
65

40?i

65 >i

62Ji
'46"

London Stock Exchange.

Closing Prices

Jan. 13. Jan. 6.

Baltimore fc Ohio (sterling) 114 116 114 116

Cairo & Viencennes com. stock ■^C^ 38 3i) 38

Do. preferred 5 per cent 90 92 90 92

Central of N. J. $100 share 93 98 93 98

Do. Cons. Mortgage 115 117 115 117

Do. Adjustment BondB 104 109 104 109

Do. Income Bonds 104 107 104 107

Det.,G'dHaven& Mil. Equip bdsll2 114 112 114

Do.Con.M.5p.c.,tiir83aft'rGp.cllO 112 110 112

Illinois Central *100 shares 135>i 136>i 132 133

Lehigh Valley Cons, mortgage.. 115 119 116 119

Louisville & Nashville mort 6s. 105 107 105 107

Do. Sink. Fund bds (S..'feN.Ala)102 104 103 105

Do. capital stock .«100 shares. 97 99 103 105

N. Y. Cent. & Hud. R. mt. bds. .134 137 134 137

Do. ?: 100 shares \M% 131% 132 134

Do mort. bonds (stg.) 123 125 120 122

N.Y.,Lake Erie fc West., $100 shs 42 ^i 42?^ 40 40»i

Do. 6 p. c. pref. $100 shares . . 87 89 84 86

Do. Ist Con. Mort. bds (Erie) .131 13J 131 133

Do. do. Funded Coupon bds. 127 129 127 129

Do. 2d Consol Mort. bonds... 101 103 100 102

Do. do. Funded Coupon bds.. 97 100 97 100

Do. Gold Income bonds 98 95 95 100

N.Y.,Pa.& Ohio Ist mort. bonds. 47 48 45 46

Do. Prior Lien bds (sterling).. 104 108 104 108

Pennsylvania, $.50 shares 63 64 62 63

Do. Con. Sink Fund Mort 116 118 118 122

Philadelphia & Betding $50 shs 33 1^' .335^ 32 33 >4

General Consol Mortgage 116 118 116 118

Do. Improvement Mortgage.. 103 105 103 105

Do.Gen.Mtg.'74,ex-di'fdcoup. '.19 101 100 101

Do. Scrip for the 6 def. >^ coup. 92 97 92 97

Pitt8b.,Ft. W. &Chi. Eq. bd8....105 109 105 109

St. L. Bridge 1st mort. gold b'd. 126 128 12i5 128

Do. Ist pref. stock 1 02 104 102 104

Union Pa. Land Grant Ist. mtg. 115 119 115 119

AMERICAN RAILROAD JOURNAL.

Financial and Commercial Review.

Thursday Evening, Feb. 2, 1882.

In the morning hours stockholders generally
paid 5@6 per cent for call loans. Borrowers
on call on Government securities were accom-
modated at 2@3 per cent. Time loans on
stocks were hard to get at G per cent. Mercan-
tile paper was 5@6 per cent. In the afternoon
the quotation for call loans was 6 per cent, but
in the last hour fell to 4@5 per cent, and at
the close to 3@4 per cent.

The actual rates for sterling exchange were
4.89J@| for demand bills, 4.83^@4.84J for 60
day bills, 490i@4.9lJ for cables, and iM\%
4.82 for prime commercial bills. The actual
rates for continental bills are as follows:
francs, 5.11J@5.12i, and 5.17i@5.18| ; marks,

94^@94|, and 95|@|, and guUders 40J and
40J.

There had been redeemed at the Treasurj-
Department at Washington to the 31st ult.,
$19,178,900 bonds included in the lOrth and
$15,112,050 included in the lOGth call, leaving
$5,709,050. Interest ceased on 24th December
on the 105th call, and on 30th January on the
106th call. The next call to mature is for $20,-
000,000, due 12th March next.

From the message of the Governor of Rhode
Island, delivered on the 31st ult., we learn that
the bonded indebtedness of the State at the
close of the year was $2,118,500 —a decrease dur-
ing the year of $129,011. The sinking fund
amounts to $72M22.

At the annual meeting of the stockholders
of the Fitchburg Railroad Company, held in
Boston on the 31st ult., the annual report of
the directors was presented and accepted. The
number of directors was increased from five to
seven, and the old board unanimously re-elect-
ed, with the addition of Franklin N. Poor and
Charles T. Crocker. On motion it was voted
that the directors be authorized to issue 20-
year additional bonds to the amount of $500,-
000, necessary for the funding of the floating
debt, and also that all issues of bonds by them
already made be hereby ratified and approved.
It was also voted that the acts and doings of
d.he directors in regard to the change of the lo-
cation of the railroa 1 in Belmont, and in re-
leasing the company's rights to certain land in
Belmont with the consent of the Legislature
of Massachusetts to the Mass. Central R. R. Co. ,
under the agreement made between the two
railroads December 14, 1880, is hereby ratified
and approved. This vote refers to the agree-
ment whereby the Massachusetts Central pro-
vided a new road-bed for the Fitchburg in Bel-
mont, leasing the old road-bed for their own
tracks.

The annual report of the State Treasurer of
Maine shows receipts of $1,417,526.83 and ex-
penditures of $1,435,460.21 ; balance on hand.
$142,405.26. There was paid on the public
debt, $83,000 ; and for interest on the same,
$336,681.

The gross earnings of the Chicago, Burling-
ton and Quincy Rxilroad for the month of
November, 1881, were $1,816,133, the expenses
$912,980, and the net earnings $903,153; for
the month of November, 1880, the gross earn-
ings were $1,835,860, the expenses $858,206,
and the net earnings $978,653 ; showing a de-
crease in gross earnings of $21,726, with an in-
crease in expenses of $54,774, making a de-
crease in the net earnings of $76,500. From
January 1, to November 30, 1881, the gross
earnings were $19,270,964 ; the expenses $9,-
703,161, and the net earnings $9,567,803 ; for
the corresponding period of the previous year
the gross earnings were 818,902,476, the ex-
penses $8,681,494, and the net earnings
$10,220,982 ; showing an increase in gross
earnings of $368,488, with an increase in ex-
penses of $1,021,667, making a decrease in the
net earnings of $653,179.

In the United States House of Representa-
tives, at "Washington, on the 30th ult., the
proposition to restore to the Government un-
earned lands held as grants by certain railroad
companies was, on motion of Mr. Townsend,

of Ohio, referred to the Committee on Judiciary
hy a vote of 161 to 58.

The report of the Western Maryland Railroad
Compan}' states that the gross earnings for the
year ending September 30, 1881, were $461,871
01, the expenses $375,919.02, and the net earn-
ings $85,951.99. Compared with the previous
year there was an increase in gross earnings of
$64,306.92, with an increase in expenses of $66,-
633.84 making a decrease in the net earnings
of $2,326.92. There were moved during the
ear 498,000 passengers and 201,259 tons of
freight, being equivalent to the movemeut of
12,277,592 passengers and 7,278,431 tons of
freight a distance of one mile, which, compared
with 1880, shows an increase of 1,571,677 pas-
sengers and 633,103 tons of freight carried a
distance of one mile. j

The annual report of the Commissioner of
Patents for the j^ear ending December 31, 1881,
shows that the total receipt of the office during
the year were $853,665.89, and the expenditures
$605,173.25. The balance in the Treasurv on
account of the patent fund Jan. 1, 1882,
amounted to $1,880,119.32. The receipts, as
stated above, exceed those of any previous
year by nearly $100,000, and the excess of re-
ceipts over expenditures — $248,492.61 — has
been correspondingly greater. In no former
year have there been so many applications for
patents though the number of patents granted
in 1876 exceeded that of the past year.

The gross earnings of the Delaware, Lacka-
wanna and Western Railroad for the year end-
ing December 31, 1881, were $27,396,525.98 ;
the expenses $19,632,661.65, and the net earn-
ings $7,763,864.33 ; from which deduct interest
and rentals, $3 558,493.74, leaving as net profits
the sum of $4,205,370.59. The balance due on
account of bonds paid and retired March 1,
1881, is $1,200,000; the surplus account, $7,585,-
297 ; the capital stock. $26,200,000 ; and the
bonded debt, 4,044.900. The construction
account stands at $30,873,356; njaterials on
hand, $1,121,850 ; stocks and bonds, $6,265,520.
The accounts receivable are $3,804,507, and the
accounts payable $3,035,037, a difference of
$769,469, which added to the above, shows that
the total property and assets now amount to
$39,030,197.

The Supreme Court of the United States has
aflSrmed the decision of a lower court awarding
to the Pacific Mail Steamship Company $292,-
000, with interest at five per cent from the 1st
of March last, in settlement of arrears of pay-
ment for mail service. I

The closing quotations on Thursday were :
Adams Express, 145@,148; American Express,
92(^93 ; Chicago, Burlington and Quincy, 135J^
(J^136; Canada Southern, 53@53i ; Chicago and
Northwestern. 134^^135; do. pref., 142i®143^;
Chicago and Alton. 133i(rt),134f ; Central of New
Jersey, 94i@95; Central Pacific. 89J^(rt^89f ; Chi-
cago. Milwaukee and St. Paul. 109}@109J ;
do. pref., 122J@122| ; Cleveland, Columbus,
Cincinnati and Indianapolis, 80@81 ; Coh:m-
bus. Chicago and Indiana Central, 19i@19J ;
Delaware and Hudson Canal, 107@107}; Del-
aware, Lackawanna and Western. 127J@128 ;
Hannibal and St. Joseph, 95J^@95^ ; do. pref.,
108@108i; Illinois Central, 1353@136^ ; Lake
Erie and Western, 32J@33 ; Lake Shore and
Michigan Southern, 111^0111| ; Metropolitan

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Elevated, 85@86 ; Manhattan Elevated, 53@
53 J ; do. 1st pref., 97@98 ; Michigan Central,
86|@86J ; New York Elevated, 107@108 ; New-
York, Lake Erie and Western, 39|@38| ; do.
pref., 80@80| ; New York Central and Hudson
River, 131@131J ; Northern Pacific, 3U@2^;
do, pref., 71 1(472 ; Ohio and Mississippi, 33}
©33|; Pacific Mail. U@U\ Texas and Pacific,
47f@.47| ; Union Pacific, 118}@118| ; United
States Express, 77@78 ; Western Union Tele-
graph, 80A@80|; Wabash, St. Louis and Pacific,
36i@3G|; do. pref., 67i@67| ; Wells-Fargo Ex-
press, 128@1'29.

The following quotations of sales of Eailway
and other securities, for the week, are in addi-
tion to those given elsewhere in our columns:
New York. — Atchison, Colorado and Pacific
1st, 98 ; Atlantic and Pacific 1st, 97 ; do. inc.,
37 J ; Boston and New York Air Line pref., 63|:
Cleveland and Toledo S. F., 108 ; Chicago. St.
Louis and New Orleans, 84 ; Chicago, St. Paul,
Minneapolis and Omaha, 35 1; do. pref., 100| ;
do. consol., 99 1 , Chesapeake and Ohio 1st
pref., 33|; do. 2d pref., 25 ; do. Pur. Money
Fund, 112; do. 1st, Series A, 102; do. cur. int.,
50}; Central Iowa 35 ; do. 1st, 112^; Cedar Falls
and Minnesota, 18} ; Chicago, Milwaukee and
St Paul S. M. div., 1st, 103 ; do. La C. and
Dav. div. 1st, 95 ; do. S. W. div:, 107 ; Chicago
and Northwestern S. F. 5s, 100; Cleveland, Co-
lumbus Cincinnati and Indianap. consol., 123};
Columbus, Chicago and Indiana Central Inc.,
71; do. 1st, 125; Chicago. Burlington and Quin-
cy 8s, 103^; Denver and Rio Grande, 71^; do.
1st, 113^ ; do. consol., 104}; Des Mo'mes and
Ft. Dodge, inc., 73 ; East Tennessee, Virginia
and Georgia, 14 1 ; do. pref., 24; do. 1st, 115:
do. inc., 56} ; do. 5s, 80; Erie and Pittsburg
consol.. 105 ; Evansville and Terre Haute 1st,
96 ; Green Bay, ^ Winona and St. Peter, 14 ;
Georgia R. R. and Bank, 167 J ; Gulf, Colorado
and Santa Fe 1st, 107 ; Hannibal and Central
Mo. 1st, 106 ; Hudson River 2d S. F., 110 ;
Houston and Texas Central 1st, Western div.,
108; Indianapolis, Decatur and Springfield pref.
40 ; do. 2d inc., 69 ; Indiana, Bloomington and
Western, 46; International and Gt. Northern
1st, 107 ; Illinois and Southern Iowa 1st, 103.];
Kansas Pacific 1st con.iol., 103 ; do. Os. Denver
div. ass.. 108A ; do. 6s, 1896, 110 ; Lafayette,
Bloomington and Muncie 1st, 102 ; Long Island.
50J ; Lake Erie and Western, 33; do. 1st, 106.} ;
Louisville, New Albany and Chicago, 74; do.
1st, lOU; Louisville and Nashville Gen'l mort.,
101 ; Minneapolis and St. Louis pref., 60 ; do.
1st, 115 ; do. Iowa Ext. 1st, 111 ; Marietta and
Cincinnati 1st pref., 12; Missouri, Kansas and
Texas, 36| ; do. consol. 7.s, 104,} ; do. 2d, 68}:
do. gen'l mort. 6s, 82} ; Mis.souri Pacific, 102^;
do. 1st consol. 102} ; do. 3d, 112 ; Memphis
and Charleston, 74 ; Milwaukee, Lake Shore
and Western, 46} ; do. 1st, 100|; Manhattan
Beach, 28 ; Mobile and Ohio, 33} ; do. 1st
deben., 93 ; do. New mort., 112} ; Metropolitan
Elevated 2d, 90} ; New York, Ontario and West-
em, 25}; Norfolk and Western pref., 55 ; do.
Gen'l mort., 102| ; NashviUe, Chattanooga and
St. Louis, 85; do. 1st, 115 ; Northern Pacific
1st, 96 ; New Orleans Pacific 1st, 90 ; Oregon
Railway and Nav., 130 ; do. 1st, 106; Ohio Cen-
tral, 23|; do. 1st, 97| ; do. inc., 43; Ohio South-
n, 19J ; do. 1st, 90 ; do. inc , 43 ; Oregon and

Transp., 68 ; Ohio and Mississippi Springfield
div. 1st, 121} ; Peoria, Decatur and Evansville,
34}; do. Ist,"l02^ ; Pennsylvania Co. 4}s, 98 ;
Rochester and Pittsburg. 27; Rome, Watertown
and Ogdensburg. 21} ; do. 1st, 91 ; Richmond
and Allegany, 30 1^ ; do. 1st, 92; ; Richmond and
Danville. 222}; do. W. P., 219 ; do. 1st, 105} ;
St. Louis, Iron Mountain and Southern 1st
pref. inc., 97 ; do. Cairo, Arkansas and Texas
1st, 110 ; St. Paul Minneapolis and Manitoba,
109 ; do. 1st, 109^; St. Louis, Kansas City and
Northern, Omaha div. 1st, 113; St. Paul and
Sioux City 1st, 110 ; Southern Pacific of Cal-
ifornia Ist, 103!^; South Pacific 1st, 104 ; St.
Louis and San Francisco 2d, Class B. 91|; do.
C, 91}; South Carolina 1st, 98 ; Toledo Delphos
and Burlington inc., 24 ; Texas and Pacific.
47| ;do. incL. G., 70} ; do. Rio Grande div.
l.st, 85 ; Utah Central, 100 ; Winona and St.
Peter 2d, 120; Wabash, St. Louis and Pacific
Gen'l mort. 6s, 86^ ; do. Chicago div. Is,, 85};
Alabama, Class A, 82 ; Louisiana consol. 7s,
68|; Missouri 6s, 1888, 109 ; do. 6s, 1889 and
1890, 111} ; do. 6s, 1886. 106} ; North Carolina
6s, S. T., 3d class, 6}; do. 4s, consol. 85 ; Ten-
nessee 6s, new, 73J ; do, old, 73}; Am. Dist.
Tel., 31 ; Colorado Coal and Iron, 40} ; do. 6s.
88; Cam. Coal, 31 1 ; Maryland Coal, 20; Sutro
Tunnel, f ; Homestake, 19 ; Little Pittsburg,
Ij^; Ontario. 34 ; Robinson, 2}; Standard, 16|.
Philadelphia. — American Steamship Co. 6s.
107 ; Central Transportation, 35} ; Catawissa
new pref.. 54; Chesapeake and Delaware Canal
6s, 89 ; Morris Canal pref., 169; Nesqueh.ning
Valley. 57} ; Pennsylvania Company 4}s, 97 ;
Philadelphia and Reading scrip, 86J ; do. Inc.
97; Philadelphia. Germantown and NorHstown.
106} ; Philadelphia City 6s, new, 1900, 130 ;
do, 4s, Series E. 103 ; Philadelphia, Wilming-
ton and Baltimore 4s, 95| ; People's Passenger
R. W. 5s, 92} ; Suubury, Hazleton and Wilkes-
barre 2d, 34 ; Steubenville and Indiana 7s, M.
& N., 103 ; Susquehanna Canal 6s, 75 ; Schuyl-
kill Nav. 6s, 1895. 65; Western Pennsylvania 6s.
Pittsburg Branch, 107}. The latest quotations
are : City Os, — @118 ; do. free of tax, 126(oJ130;
do. 4s, new. 102@109; Pennsylvania State 6s. 3d
series, 100@101 ; do. 5s, new loan. 115^(^^116};
do. 4s, new, 107@111 ; Philadelphia and Real-
rig R. R., 31}@31^; do. consol. mort. 7s, reg.,
125}@126} ; do. mort. 6s, 117@121 ; do. gen'l
mort. 6s, coupon, 98}@98|; do. 7s, 1893, 118@
125; do. new, conv., 74@76; United New Jersey
R. R. and Canal, 1855@186J ; Buffalo, Pitts-
burg and Western, 18}@18| ; Pittsburg, Titus-
viUe and Buffalo 7s, 101f@102 ; Camden and
Amboy mort. 6s, 1889, 113}@114; Pennsylvania
R. R., 61}@62; do. general mort. reg., 121@— ;
do. uonsol. mort. 6s, reg., 119}@124; Little
Schuylkill R. R. 55}@56} ; Morris Canal, 65@.
75 ; do. pref., 168}@169}; Schuylkill Naviga-
tion, 53@6 ; do. pref., 12}@13 ; do. 6s, 1882,
89@90 ; do. 1872, 107@108 ; Elmira and Wil-
liamsport pref., 58@60 ; do. 6s, 113@ — ; do.
5s, 95@— ; Lehigh Coal and Navigation, 42^@
44; do. 6s, 1884, 105@105}; do. R. R. loan, 116}
©118 ; ilo. Gold Loin, 110|@111 ; do. consol.
7s, 116}(a>116| : Northern Pacific, 34|@35 ; do.
pref.,71^@72 ; North Tennsylvania, 61}@62} ;
do. 6s, 105©106J ; do. 7s, 121©—; do. General
mort, 7s, reg., 119}@124 ; Philadelphia and
Erie, 15|@16J; do. 7s, 114@115; do. 5s, 105J@

105}; Minehill. 60J@60} ; Catawissa, 19}@20};
do. pref.. 54|©55 ; do. new pref., 53|©54J ;
do. 7s, 1900. 120@— ; Lehigh VaUey 61}@62 ;
do. 6s, coupon, 120©122 ; do. reg., 121@122 ;
do. 2d mort. 7s, 133}@134} ; do. consol. mort.
119@120}; Fifth and Sixth streets fhorse), 149
@150 ; Second and Third, 110©115 ; Thir-
teenth and Fifteenth, 75@80 ; Spruce and
Pine, 45@50 ; Green and Coates, — @85 ;
Chestnut and Walnut, 90@95 ; Germantown,
60@70; Union, 110@115 ; West Philadelphia,
105@110 ; People's 14@15 ; Continental, 100
©102. . :\ .'

Boston. — Atlantic and Pacific Income, 33 ;
do. 6s, 95; Atchison Income 8s, 102; Atchison,
Topeka and Santa Fe mort. 5s, 99 ; Boston,
Clinton, Fitchburg and New Bedford, 45 ; do,
pref., 129 ; Boston Water Power Co., 6J ; Bos-
ton Land, 8 ; Burlington and Missouri River
in Nebraska 6s, non-exempt, 103}; Cincinnati,
Sandusky and Cleveland 7s, 104 ; Central of
Iowa, 34 ; Connecticut and Passumpsic Rivers
R. R., 93 ; Chicago, Burlington and Quincy
4s, 87}^ ; Chicago and West Michigan, 77 ; do,
do. 5s, 95; Chicago, Milwaukee and St. Paul
6s. Dubuque div., 104 ; Connotton Valley, 18 ;
Df^troit, Lansing and Northern pref., 117; Flint
and Pere Marquette, 22} ; do. pref., 93; Iowa
Falls and Sioux City, 84 ; Kansas City, Fort
Scott and Gulf 7s, 111 J ; Kansas City, St. Jo-
seph and Council Bluffs 7s, 115f ; Kansas City
Lawrence and Southern 5s, 105} ; Little Rock
Fort Smith, 65; do. 7s, 111; Massachusetts Cen-
tral 6s, 93 ; Marquette, Houghton and Ontona-
gon, 60 ; Mexican Central blocks, new, 94 ;
Maine Central, 38 ; New York and New Eng-
land 6s, 107; Ogdensburg and Lake Champlain
6s, 98 ; Port -mouth, Great Falls and Conway
4}s, 87 ; Rutland, 4}; do. pref., 27; do. 6s. 101 ;
Summit Branch, 13| ; Sonora R. R., 20; do. 7s,
87; do. block, No. 4, 110 ; do. No. 3, 150 ; To-
ledo, Delphos and Burlington, 7 ; do. 6s, S. E.
div., 67} ; do. inc., 16 ; Wisconsin Central, 19;
Allouez Mining Co.', 3 ; Blue Hill, 50 ; Bruns-
wick Antimony, 15 ; Catalpa, 55c. ; Dougla.s.
50c. ; Franklin, 12}^ ; Harshaw, 3^ ; Huron, 3 ;
Indian Queen, 3 ; Mesnard, 75c. ; National, 2};
Napa consol. Quicksilver, 6J ; Osceola, 34 ;
Pewabic, 13} ; Phoenix, 2} ; Silver Islet, 26} ;
Sullivan, 2.

Combustion of Fuel.

By Prof. S. N. Carvalho.

What is the Scientific Theory of the Cum-
BUSTioN OF Coal ? ,

We know that carburetted hydrogen and
the other compounds of carbon require given
quantities of atmospheric air to affect their
combustion. What is carburetted hydrogen?
On analyzing this gas we find that it consists
of two volumes of hydrogen and one of carbon
vapor. . , ... I . '

What is carbon ?

Carbon is only charcoal in a state of purity —
that is to say, it is unmixed with any foreign
ingredients.

In its purity it is a simple compound, and
the work of the chemist is to unmake or sep-
arate from common charcoal these foreign in-
gredients to produce pure carbon.

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AMERICAN RAILROAD JOURNAL.

Diamond is pure crystalized carbon. Car-
bon is found in considerable quantities in all
organized bodies, but is most abundant in tlie
vegetable creation, and it is principally ob-
tained from wood. Is pure carbon black ? No;
chemists have failed to separate it entirely
from hydrogen. Sir Humphey Davy says the
most perfect that has been prepared contains
five per cent of hydrogen.

Combustion is a sudden chemical combina-
tion cf some substances by means of heat with
oxygen, attended by the evolution of greater
heat. The most available of all substances for
fuel is coal. The quantity of carbon in the

B'^st anthracite coal is 92.34

Hydrogen 3-00

Nitrogen 0-58

Oxygen 2.57

Ash 1-51

:■■ % ■ ■• -• •■■ 100.00

Yon said that carbon was found most abun-
dant in vegetable substances. Is, then, carbon
vegetable oxygen ?

Yes ; without doubt. The rankness of vege-
tation which must have existed in the carbonif-
erous era, and the uniformity of climate which
appears to have prevailed almost from the pole
to the equator, would seem to imply a higher
temperature of the earth's crust, and an atmos-
phere more laden with humidity and carbonic
acid than exist in our day ; but whatever may
have been the geological conditions affecting
the origin of coal, we may regard the deposits
of that mineral (its present f(5rm) as vast maga-
zines of power stored up at periods immeasur-
ably distant for our use.

The principle of conservation of force and
the relationship now established between heat
and motion, enable us to trace back the
effects which we now derive from coal, to
equivalent agencies exercised at the period of
its formation. George Stephenson, unaided by
theoretical knowledge, rightly said that coal
was the embodiment of power originally de-
rived from the sun. r

The small pared of solar radiation which is
arrested by the earth, and which constitutes
less than the 2000-millionth part of the total
energy sent forth from the sun, must be the
power which enabled the plants of the carbonif-
erous period to wrest the carbon they required,
from the oxygen with which it was combined,
and eventually to deposit it as the solid mate-
rial of coal.

In oar day the reunion of that carbon with
oxygen restores the energy expended in the
former process, and thus we are enabled to
utilize the power originally derived from the
luminous centre of our planetary system.

The phase of the earth's existence suitable
for the extensive formation of coal appears to
have passed away for ever ; but the quantity of
that invaluable mineral which has been stored
up throughout the globe for our benefit is
sufficient (if used discreetly) to serve the pur-
poses of the human race for thousands of
years, and it may be considered practically in-
exhaustible. ; V^ • : ' . ;

Does coal or fuel etter into combination at
once, on the application of heat, and that dur-
ing such combustion it evolves the gaseous mat-
ter it contains ?

No ; This view is neither correct nor scien-
tific, and evades an important feature on the

use of coal, namely, the order in which the
gaseous and solid portions come into use as
heat-giving media.

When heat is applied to bituminous coal
what becomes of it ? What is the effect?

When fresh coal is thrown on incandescent
coals in the furnace, instead of increasing the
temperature, it becomes at once an absorbent of
the heat, and the source of the volatilization of
the bituminous parts; in a word, of the genera-
tion of gas.

Now, as volatilization is the most cooling
process of nature, by reason of the quantity of
heat which is directly converted from the sen-
sible to the latent state, so long as any of the
bituminous constituents remain to be evolved
from any atom or division of the coal ; its
carbonaceous part remains black, at a compara-
tively low temperature, and utterly inoperative
as a heating body ; in other words, carbon has
to wait its turn for that heat which is essential
to its own combustion.

Tc be Continued.

The Coal Trade.

The leading coal carrying companies make
the following reports of their tonnage for the
week ending Jan vary 21, and for the year to
same date, compared with their respective
amounts carried to the same time last year:

"Week. 18S2. 1881.

Reading Railroad 101,450 1.119,168 886,528

Schuylkill Canal 27,655

Lehigh VaUey 62,202 8G3.;i07 668,774

Delaware, Lackawanna and

Western 62.204 220.657 186,102

Shamokin 19.691 50,213 51 .972

Centi-alR. R. of New Jersey.. 71,333 201,032 167.184

United 11. R. ot New Jersey.. 26.516 89.531 81.309

Penntsylvauia Coal 11,183 54,078 fO,34G

Delaware and Hudson Canal.. 49,852 180.961 150.421
Huntingdon and Broad Top

Mountain 10.579 33.296 26,117

Penn. and New York 23.066 215,802 165.399

Clearfield. Pa 51,259 141.602 98,36f5

The total tonnage of anthracite coal from all
the regions for the wtik ending January 21,
as reported by the several carrying companies,
amounted to 367.078 tons, against 545,924 tons
in the corresponding week last year, a decrease
of 178,846 tons. The total amount of anthra-
cite mined for the year is 1,334,950 tons, against
1,211,729 tons for the same period last year, an
increase of 123,227 tons. The quantity of bi-
tuminous coal sent to market for the week
amounted to 100,826 tons, against 64,790 tons
in corresponding week last year, an increase
of 36,036 tons. The total amount of bitumin-
ous mined for the year is 215,948 tons, against
169,014 tons for the corresponding period last
year, an increase of 46,934 tons. The total
tonnage of all kinds of coal for the week is
467,904 tons, against 610,714 tons in corre-
sponding week last year, a decrease of 142,810
tons, and the total tonnage for the coal year is
1,550,904 tons, against 1,380,743 tons to same
date last year, an increase ot 170,161 tons. The
quantity of coal and coke carried over the
Pennsylvania Railroad for the week ending Jan-
uary 21 was 218,639 tons, of which 152,890
tons were coal and 65,149 tons coke. The total
tonnage for the year thus far has been 622,817
tons, of which 436,666 tons were coal and 180,-
151 tons coke. These figures embrace all the
coal and coke carried over the road east and
west. We have received no report of the Cum-
berland coal shipments for the week ending
January 21. The Heading Kailroad shipment

for last week, ending January 28, was 92,500
tons, of which 9,600 tons were sent to and
10.300 tons shipped from Port Richmond, and
15,900 tons sent to and 12,300 tons shipped
from Elizabethporl. Work was suspended for
three days last week, which accounts for the
small tonnage over the Reading Railroad. —
Phil. Ledger, Jan. 30.

iPire Extinguishers on Railroads.

The recent horrible scenes connected with
the wreck on the New York Central and Hud-
son River Railroad, when the fearful loss of
life was so excruciatingly augmented by the
lack of any appliances whatever for extin-
guishing fire, have led to some good out of all
their gloom if thej" have directed serious atten-
tion to tho needs in this direction, as they
evidently have. It was a sight as shameful as
it was sad to see an elegant express train at a
standstill, and its five hundred passengers
watching two of its drawing-room cars and
their precious contents burning, while the only
available me^is for even attempts at putting
out the flames was found in the light snow on
the hillside, which was rolled into balls and
thrown upon the fire. It is a pitiable picture
indeed, in its weakness jxnd lack of forthought,
to hold up by the side of railroad advancement
in other directions. But the picture will have
its influence. A demand is made that all pos-
sible appliances for relief in such emergencies
shall be provided, and that the demand is
being complied with in some directions is a
most reassuring fact. Two hundred fire ex-
tinguishers have recently been purchased for
the Boston and Albany Railroad, and other
companies are busily at work arranging for
the adoption of such appliances to be carried
on the exterior or interior of passenger coaches,
as r^y seem most desirable after investigation
and experiments have assisted in deciding
what the best equipment is. Extinguishers are
now in use on a number of roads, among them
the Illinois Central Railroad. Mr. S. F. Hay-
ward, general agent of the Fire Extinguisher
Manufacturing Co., 407 Broadway, informs us
that some time ago Mr. W. K. Ackerman, presi-
dent of that road, said : "This company has
in use four hundred of your small Extinguish-
ers, and five of the large tanks on wheels,
which we hold at our principal shops. Wo
have found themiof incalculable benefit to us,
and their use hsJs resulted in the saving of an
immense amount of our property from fire. In
fact, very shortly after bringing them into gen-
eral use on the road, we ceased insuring alto-
gether. We keep up a full supply and have a
specially appointed officer to superintend them
and see that they are properly filled for use."
An account kept at the auditor's office of that
road, charging current premiums and crediting
losses from time to time, showed the savings on
insurance in six years to be over $200,000.

The census returns give the annual produc-
tion of iron ore in Lehigh county as 321,322
tons. This is the largest product of any coun-
ty in Pennsylvania. Next comes Lebanon with
286,000 tons. Berks with 253,000 tons, Blair
v,'ith 155,000 tons and Northampton with 105,-
000 tons. The iron ore in Lehigh county is

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AMERICAN RAILROAD JOURNAL.

■ ■ i' ■' y V" -■."• .

prodnced from about 200 mines, while that in
Lebanon comes almost entirely from a single
one —the great ore bank at Cornwall. The en-
tire production in Pennsylvania in 1880 is given

as 2.18fi.O tons, and that of the United States
as 7.970.0U0 tons. The average royalty per

ton was 42 cents and the average market price

$2.90.

^ . 1

INCORPORATION. 1

The Canton Street Railroad Company, of
Canton, Ohio, has been incorporated with a
capital of $30,000. , , j

The Palmer Wire Company of Palmer, has
been chartered with a capital of $50,000 for the
manufacture of iron, Bessemer, and cast steel
wire and iron goods of any name, nature or de-
scription. '■ ^1

Articles of incorporation have been filed in
the office of the Secretary of State of Oregon,
of the Stay ton and Mehama Canal, Logging
and Transportation Company ; capital, $10,-
000. The incorporators are S. A. Jones, John
A. Shaw and Wm. E. Price. Principal office,
Stayton. . ' ' I

A CHABTEB was issued at the State depart-
ment at Harrisburg, Pa., on the 26th ult., to
the Tionesta and Allegheny Valley River Rail-
road Company, with a capital of $580,000. The
new road will extend from South Oil City,
Venango county, to Sheffield, Warren county.
a distance of 58 miles. Thomas H. Wilson, of
Venango, is president. ;

CONSOLIDATION.

The lines of the Canadian Pacific Railway
have been consolidated in such a way that all
west of Lake Superior to the Pacific coast will
be known as the Western division, and all the
the Atlantic line, as the Eastern division. W.
C. Van Home, late of the Chicago, Milwaukee
and St. Paul Railway, is general manager of
the entire trans-continental road, and has two
superintendents under him to operate the re-
spective divisions. The subordinate positions
are all being filled on a permanent basis. The
official list is principally American and gives
umbrage to Canadians. 1

The Virginia Legislature has passed a bill
authorizing the Peninsular Railroad Company
to consolidate with or receive a conveyance of
" the railroad property and rights of the Wor-
cester and Somerset Railroad Company," and
thereafter "to hold, own, extend, complete,
manage and operate said railaoad." Section 2
authorizes an increase of the capital stock
$1,500,000. Section 3 empowers the Peninsular
RaUroad Company to change its name to the
"New York, Philadelphia and Norfolk Railroad
Company." William Painter has been elected
president, and J. L. Bates treasurer of the
company. I

The largest steel sailing vessel ever con-
struced was launched a few days ago at Belfort,
England. She is named the Garfield, after the
late president. She is 2,220 tons register, is
292 feet in length, 24 feet 9 inches depth and
41 feet breadth. She has been built for the
White Star Line, and is intended for the Aus-
tralian and Calif ornian trades.

Cincinnati Iron Market.

■ OmcE or E. L. Harper & Co.

Cincinnati, Jan. 31, 1882.

We have to report a continued good demand
fully up to the supply. All lots of standard
quality offered find ready sale at current rates:
all grades are in light supply. Forge Irons
especially so. The mills here are running to
their fullest capacity and report large inquiries
for future deliveries, but are not anxious to
book many such orders at present prices. The
market closes strong at the quotations given
below.

We quote as follows :

FOUNDBT.

No. Mos.

TTangine Rock Charcoal 1 W 50^30 75 4

Strong Neutral Coke 1 27 00'?a28 00 4

American Scotch 1 26 50@27 50 4

6BET FOBGE.

N«>ntral Coke 2a 50'3)2« .^o 4

Cold Short 24 00@25 00 4

CAB WHEEL AND MALLEABLE.

Hanging Rock CoM Blast 3fi OOfTtUR 00 4

Warm Blast 30 00<»:^2 oo 4

T^ke Rnperior 1 and 2 32 00'?i);w 00 4

Tjikft Superior :^ i'^r, 34 oo-a.lfi 00 4

Southern Car "Wheel 36 00@40 00 4

^Northern Central Railway.

The Northern Central Railway Company fur-
nishes the following comparative statement of
its gross e'xrnings and operating expenses for
the month of December: —

1881. 1880.

Gross earninsrs f47fi.R23 26 $4'>4.3in 4«

Operating expenses 321.633 66 270.404 36

Net earnings $154,989 60 $223.906 12

For the twelve months ended December 31,
the gtoss earnings, operating expenses, and net

earnings were: —

1881. 1880.

Gross earnings $5,443,700 00 $5.0.'>0.387 29

Operating expenses 3.787.445 91 3.255.268 45

Net earnings $1,656.254 09 $1,795,118 84

Philadelphia and Erie Railroad.

The Philadelphia and Erie Railroad Compa-
ny nvikes the following exhibit of business for
the month of December, 1881 :

OroRft earnings $282,772 41

Gross expenses 200,940 66

Net eirninps $81 ,831 7."^

Net earnings, 1880 113,408 10

Decrease $31,576 35

Net earnings yeir 1881 $1 024.248 Ifi

Net earnings year 1880 1.369.379 35

Decrease $346,130 60

James H. Taylor, of St Catharines, has been
appointed assistint superintendent of the
Kingston and Pembroke Railway.

A NEW iron steamship, 286 feet long, iO\ feet
beam, 25 feet depth of hold, and 1,900 tons
burden, was launched at Roach's yard at Ches-
ter, Pa., on the 28th ult. for the Old Dominion
line. ,

Loin)ON contains fourteen strictly terminal
railway stations, from which no fewer than 2,-
202 trains depart daily, and nearly 1,600 of
these leave between hours of 10 A. M. and 10
P. M. The largest number of departures from
a single terminus is 320, after which come two
stations with 312 and 295, respectively. These
figures are exclusive of the immense system
supplying the city with local transit.

Lime-Kiln Club Deliberation.

"Doan' seek to make angels of yourselves,"
quietly began Brother Gardner, as the meeting
opened. "In de fust place dis am no sort o'
kentry fur angels, an' in de next place you
would be mighty lonesome. De man or woman
who becomes so sweet an' soft an' good dat dey
expect ebery minit to rise up an' fly, doan' take
as much comfort as folks who feel d.it it will be
a clus shave to git inter heaven. A little wick-
edness pickles a man an' makes him keep all
de better. When I trade mules wid a man I
prefer that he should suspect me wid an inten-
shun to make an eben $25 by de operashun.
When I deal wid a butcher I like to feel dat he
will work in fo' ounces of bone fur ebery eight
ounces of meat if I doan' watch him. I like to
have de bootmaker tell me dat American cow-
skin am French calf, an' I am pleased when de
sto' clerk warrants fo' cent caliker to wash like
sheet-iron. De man who am not a leetle wicked
has no chance to feel sorry ; no use for prayer;
no need of churches. He cannot say to a fel-
low-man : * I wronged you — I'm sorry — shake.

" De man who neber sins makes a poor nex*
doah neighbor. De woman who keeps feelin'
of her shoulders to see if wings have started
makes a poor mother an' wuss house-wife. If
you have neber injured a man an' gone to him
an' axed his pardon an' made up, you doan'
know what real happiness am. If your con-
science has neber driben you to prayej' you
can't feel de goodness of de Lawd. My advice
to you am to be a leetle wicked— not 'nuf to
make men fear or hate you, but just 'nuff to
keep you convinced dat you must help to sup-
port churches uu' pay clus attenshun to what
de preachers say, or you'll be left behin' when
de purceshun starts." i

A Big Head of Steam.

ToPKooDT made up his mind that he was not ,
going to be bo.ssed any longer by his wife, so
when he went home at noon he called out im-
periously, " Mrs. Topnoody ! Mrs. Topnoody !"
Mrs. T. camt out of the kitchen with a drop of
sweat on the end of her nose, a dish-rng tied
round her head, and a rolling-pin in her hand.
•'Well, sir." she said, "whaL'll you have?'-
Topnoody staggered, but braced up. •' Mrs.
Topnoody, I want you to understand, mad-
ame," — and tapped his breast, dramatically —
"I am the engineer of this establishment."
"Oh, you are, are you? Well, Topnoody, I
want 3'ou to understand that I" — and she
looked dangerous — " I am the boiler that will
blow up and sling the engineer over into the
next county. Do you here the steam escaping,
Topnoody?" Topnoody heard it, and he
meekly inquired if there was any assistance he
could render in the house-work.

We began to make steel rails in America only
fourteen years ago, turning out 2,000 tons that
year. They then cost $166 a ton. Three years
ago they were down to $42 a ton, and are now
up to $60. We made JJ00,000 tons last year.
They cannot be made here, it is said, under
$40 a ton, while the English have made and
sold them for $20 a ton. In England the ma-
terials of steel rails are found close together,
while here they have to be transported a long
distance. English labor is one-third less than
here, and English skilled labor one-half less.

;-.h

Lm 'i.'2:::\iMi*^^i

AMERICAN RAiLIlOAD JOtTitNAI.

THE LAKESTIORE AND MICHIGAN SOUTH-
ERN RAILWAY COMPANY,

Treasurer's Officp. Granr OENXRAr. Depot,
New York, December 23d, 1981.

The Board of Dir»>ctorn of this companv hnv«« thi?
day decliired a QUARTERLY DIVFDEND of TWO
per cent, u^-'-n ifscppititi Mock payable on WEDNES-
DAY, the first diiy of Fe^ru-r.v next a» thi'oflfice.

The transfer bo<'k<» will be close I at 3 o'clock P.
M- on Saturday, the 3'f=t instant, and will be re
opened on the morning of Saturday, the fourth day of
February next.

E. D. WORCESTER, Trennurer.

TaE THIRTY-NINTH SEMI-ANNUAL CASH 01 Vi-
deo i1 of the ILLINOIS CENTRAL RAILROAD
COMPANY, being three an-I a half (3 ^i) per cent on its
capital stock, will be paid by the undersigned March 1,
1882, to shareholders as registered at the close of busi-
ness on the 11th of February, after whi'^h and until the
4th day of March the transfer-books will be closed.

L. V. F. RANDOLPH. Treasurer.

THE PERFECTED

REM I N G TON

FOR^LE.

Ten new Locomotives, Standard Gauge, June
and July delivery.

New 3ft. Gauge Locomotives, summer delivery.

One Second-hand Tank Locomotive 3ft. Grauge,
rebuilt good as new, January delivery.

Second-haDd Standard Gauge Locomotive and
Passenger Cars.

Thirty new Box Cars Standard Gauge, immedi-
ate delivery.

New Flat and Coal Cars, January delivery.

New Passenger and Combination Coaches 3ft.
Gauge, early delivery.

New Car Wheels and Castings.

[ron and Steel Rails.

Narrow-Gauge Rolling stock a specialty.

BARROWS & CO.

NE'W YOBK.

TYPE-WRITER.

^ "WRITING - MACHINE which combii
ia«'e with rapidity and accuracy,
and economy with elegance
and convenience.

Adapted to general use. Every xnachi >4
guaranteed.

Send for Circulars with names and testimoniala
recent patrons.

E. BEMBTON & SONS,

281 and 283 Broadway, New York.
38 Madisou Street, Chicago.
124 South 7th Street, Philadelphia.
21 Soutli Howard St., Baltimore.

./jMention this paper.] '

Interest allowed on Deposits subject
to Draft. Securities, &c., bought and
sold on Commission.

Investment Securities always on hand.

ALOJVZO FOLLETT,

D. N. BEARDSLEY & CO.,

MANUFACTURERS OF

Superior Oak and Chestnut Lmnlier,

AND RAILROAD TIES.

Oa,^ Oax TiaaaToex a, Specialt^r.

OFFICE : 8 MUBRAY ST.,

NEW YORK.

Negotiator of prime Commer-
cial paper at Low Rates. Does
not solicit and will not take
hold of any but concerns whose
paper is A L

::;;::;, home;;;: -^^

INSURANCE COMPANY OF NEW YORK,

OFFICE: NO. 119 BROADWAY.

Paine, Webber & Co.,

Bankers and Brokers,

Wo. .13 Dc'voiisliiri' St.. Boston.

(Membert of the BotUm Stock Exchange.)

DcTote special attention to the purchase and sale of
Stocks and Bonds in the Boston market, the careful ro-
lection of securities for investment, and the negotiation
of commercial paper.

Wm. a. Paine. Waixace G. Webbeb. C. H. Paik«,

FIFTY-SEVENTH SEMI-ATTNTTAL STATEMENT,
Sliowing Oonaition of tli© Oorxiiaaxiy- oa th© 1st deiy of

John H. Davis & Co<

: BANKERS AND BROKERS.

RTo. IT Wall St.,

'I
W«Mr Vork.

CASH CAPITAL..... ...$3,000,000 00

Reserve for Unpaid Premiums 1,943,733 00

Reserve for Unpaid Losses 24^,595 36

Net Surplus 1,806,180 90

: CASH ASSETS $6,995,609 26

Summary of Assets

Held in the United States available foi the PAYMENT

of LOSSES by FIRE, and for the protection of Policy

Holders of FIRE INSURANCE.

Cash in Banks | 130 172 31

Bonds and Mortj^ages, being first lien on

TT ^T\ 1****® [worth $3,600,750] 1,555.858 00

United States Stocks [market value] 4,079 500 00

Bank and Railroad Stocks and Bonds [mar-
ket value 664 625 00

State and Municipal Bonds [market value]. 121,'750 00
Loans on Stocks, payable on demand [mar-

ket value of CoUalerals. $341.507.50 229,750 00

Interest due on Ist January, 1882 85,819 19

Premiums uncollected and in hands of

^^fJ?'8/ 80,635 08

^lEstate 47399 gg

^°**^ $6,995,609 26

Interest allowed on temporary and standing deposits,
••tocks and Bonds bought and sold on Commlsalon only.
'Either on Margin or for Investment.

J. H. WASHBURN, Secretary.
T. B. GREENE,

VV. H. BIGELOW,

Ass't See's.

CHAS. J. MARTIN, President.

A. F. WILMARTH, Vice-Pres't.

D. A.HEALD, 2d Vice-Pres'f.

Brown, Brothers & Co.,

No. 59 Wall Street, New You,

— BUT AND SELL —

— ON —

QREAT BRITAIN, IRELAND, FRANCE, GERMANY,

BELGIUM, AND HOLLAND.

Issue Coininercial and Travelers' Credits In Sterling,

AVAILABLE IN ANY PART OF THE WORLD, AND Ul
FRANCS IN MARTINIQUE AND GUADALOUPE.

Make Telegraphic Transfebs of Monet between thi«
and other countries, through Loud<m and Paris.

Make Collections of Drafts drawn abroad on all points
In the United States and Canada, and of drafts drawn la
the United States on Foreign Coujitries.,

SiSti^A

■ - I-:
. if.

. T.W-. ■,,"^ry>^ ■■

! — :«t^'-'r^vs?- 'i*/.T ^"'*rJ#.-'";

AMERICAN RAILROAD JOURNAL

AMERICAN

REFRIGERATOR
LINE,

Now York, Oct., 1881.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported
Liquors, Patent Medicines, Es-
sential Oils, Mineral Waters,
Lager Beer, Ales and Porters,
Oysters, or, jn fact, any class ol
goods that needs protection
from heat or cold while in tran-
sit to the West and Southwest,
either in Summer or Winter,
will do well to ship the same by
the new and elegant cars of the

X'.^.SSE31VG^:E3

Of the;Fiii.est Finish, as well as every description of CAR WOBE, furnished at short notice aad at reasonabl*
■ i Prices by the * ■ ' .- . :■" ^ ■•;.,' I •

IIARLAW A IIOLLIIVGSVIOKTII CO., Wilming^ton. DcT.

PARDEE CAR WORKS.

WATSONTOWN, PA.

PKOPRIETOKS.

JylanufcLOturQrs of*

Mail, Bnggage, Box, Gondola, Flat, Grave), Ore, ('oal. Mine, and Hand Cars;

Keiley's Patent Turn-Tables, and Centers for Wooden Turn-Tables;

Car Castings, Railroad Forgings, Rolling-Mill Castings,
I ' Bridire Bolts and Castings. 1

i^^We have, in connection with our Car Works, an extensive Foundry and Machine-shop, and ar« preparad
io do a general Machine Business. .;;.,.

Chairman,
A.RIO PABDEE.

Treasurer aiyl General Manager,
H. P. SNYDER.

Secretary,
N. LEISEB.

NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY.

C. W. LEAVITT. Agent.

BETBIGEHATOR TRANSIT COMT.

Guaranteed Bills of Lading:
g^lTen* . ■ '- : H

Time as qnick and rates ns
low as by any first class fast
freight line.

jC^'Ship from New York via
N. Y. C. and H. K. .it R., St.
John^s Park ; from Boston via
Boston and Albany B. U.

For rates and information apply to

FRED'K I. EVANS,

.:, General Eastern Agent.

FR^IOSrOIPAij OFFICE :

92 Wall Street, - New York.

271 Broadway, New York, i

282 Washington Street, Boston.

SEff [ORE, lARE E RIE, AMD W ESTERN RAIlWAf7

i I ' TO THE TR,A.V-EL,I2Sra- FXJBLiIO.

r-,-^Sr^°^ *^* Centennial season— six months closing September 10, 1876— the Erie Railway cairied almoi*
THBBE Million passengers, without a singe accident to life or limb, or the loss of a piece of baggage.

• T>^*^ '^^ " whole year the official records of the United States Post Office Department show the arrival* of
^ 10 Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competing lines.
Facts well worthy the consideration of travelers.

E. S. BCWEN, Gtnerdl Superintendent.

JNO. N. ABBOTT, Gen. Cnssenger Agent.

Railroad

RIEHX.!:

STANDARD

Track Scales.

A Kin ^1

AND

TESTING

MACHINES

PHlLtADELPHlA,
50 Sioulh 41 h St.

NEW YORK,
115 Liberty Street.

PITTS KU UGH,
Liberty St. cor. 7ih Av.

ST LOUIS,
600 Norib 3<l Street

NKWOULRAnS,
14^ GrMVler Street

I THE ROGERS

LOCOMOTIVE AND MACHINE WORKS,

Fatersoxi, N". J.

Having extensive facilities, we are now prepared U
lumish promptly, of the best and most approved da
scription. either

COAL OR IVOOD BURNIN«>

TL.0001i^OTI"V"B ElSrOINES,

I j AlTD OTHEB VABTETIES OF

RAILROilD inACHII>IEB¥.

i^»—

J. S. ROGECIS, Pret't.
R. 8. HUGHES, Sec'
WBI. 8. HUDSON

Yea't. \
, Sup'L )

Pateraon« N. J.

44 Ezeluui(« Plaect Blew York.

THE

GORDON & DUGGAN

RAILWAY SWITCH.

The Standard on several and in use on
twenty-five Bailroads.

Combines Safety, Durability, Simplicity,
and Low Cost, with Fixed Rails.!

The only movable piece weighs 375 lbs.
and is without a bolt or rivet. -I

E. CORDON, Treasurer,

No. 28 Staxb Steeet, Bosion, Mass.

ATvnrxjTr'/visr patt,"ro\T) tottrnal.

VALENTINE'S VARNISHES

ARE ON SALE IN THE FOLLOWING COUNTEIES:

ENGLAND.

■r

FRANCE.

SWITZERLAND.

ITALY.

GERMANY.

AUSTRIA.

HOLLAND.

SCOTLAND.

SPAIN.

INDIA. ;.;;-^ ■■;•:':.::: ,;;-

SOUTH AMERICA.
MEXICO.

RUSSIA.

AUSTRALIA.

NEW ZK ALAND.
CUBA.

VALENTINE & COMPANY,

COACH AND CAR VARNISHES,

BAMES VACUUM BRAKE CO.

p. O. Box «,878.

RAILWAY TRAIX BRAKES,

?»ALKS 4IFFI4 E: 15 OOI.I» vr, W. V K«|>i< seiiti <1 by TIIOs. PKOS^iKK & SO».

The EAMES VACUUM BBAEIE is confidently offered as the most efficient, simple, durable and cheapest Power Brake in the
market. It can be seen in operation upon_over seventy roads. ; v:; V i . ..

^sSKti^ir!!^iil-,.li,^it-^-'Mj^ijiL^l^i;:.^.-::i^'i.. '.-'■ t.

..l.;:v^-:

-><

AMEBICAN RAILROAD JOURNAL.

WATER TDBE STEAM BOMS.

THE BABCOCK & WILCOX CO.,

30 Oortlancit St, N'e-w TTorlc.

116 James Street, Glaseo-w. j.

JOHN STEPHENSON COm

[Limited.]

NEW YORK. I

Superior Elegance, Lightness and Du-
rability. The result of 50 years' esperi

ence. I -^ ■ ■ 1 - ■ ' ■ I

Adnpted to all countries and climates.
Combining all valuable improvements.
Shipped to Foreign Piirts with greatest
care, and at most fuvoruble rates.

HOUSATONIG RAILROAD

THE ONLY LINE RUNNING

T m^ O TJ O- IS C.A-E?,S

Between New York, Great Barrington, Stockbridge, Len-
ox, and Pittslield — the far-famed resort of the j

Berkshire Hills

of Western Missichiisetta— the "5«>j7zeria7id of America.*'

Two through trains daily be^tween New York City and
ftll points ou the Uousatoaic Railroad, from the Granr
Central Depot via the New York. New Haven, and Hart
ford Railroad at 8:05 A. M. and 3:43 P. M.

Descriptive Guide Book sent free upon application to
tlxe Oener<a Ticket Agent.

M. i>. AVfiBIIiIj, Gen'l Ticket Agent.
L. B. STILLSON, Superintendent.
Oeneral OJTices, Bridgeport, Ct. January 2, 1882.

NO OTHER LINE IS SUPERIOR TO THE

FITGHBURG RAILROAD

HOOSAC TUNNEL ROUTE

IVEST

6.30 A:

ACCOmMODATION.

Connecting at Syracuse, N. Y., at 7.15 P.M., with through sleeping cars for Cincinnati,
Clevel&nd, Toledo, nETMOIT ANJ> CHICAGO, :

CINCINNATI

EXPRESS,

Pullman Sleeping Car attached, running through to Cincinnati without change. (Only Line
running Pullman Cars from Boston.) This car runs via Erie Eailway and N.Y., P. <Sr 0. R.R.,
making direct connection for Louisville, St. Louis, Kansas City, New Orleans, and all
points in Texas and New Mexico.

.1.

P. ST. LOUIS

M. EXPRESS.

THE ONLY LINE which runs a THROUGH SLEEPING-CAR from

BOSTON TO ST. LOUIS WITHOUT CHANGE!

1 [ j ABRIVING AT 8.00 A.M, SECOND MOBNJNQ, \

Through sleeping car for Bufifalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo:
Kansas, Colorado, Texas, and all points in the

SOUTHWEST.

P. PACIFIC

|factarerj,Miner8,Mercbants,Ac.,u'illiindinMooiiE'S

UsrvEBSAL Assist ANT AND Complete MrciiANic, a work
containing 1U16 pares, 5 JOEnpr.ivings, 461 Tables, and over
l,CO),OtOIndustrialFacts,Ca'cul-tions,Pro<- SOS. Secrets,
Kules, 4c., ofr«reuti:ityin2 OTradcp. A $5 bonkfree by
mailfor$3.rj0, worfi its weight in r >'d to any Mechanic,
Farmer or B isinessM'n. A'/entii ^yu1^te.l. Sure sale every-
TThcre for all time. For 111. ContPr.tJ Pamphlet, terms,
•nd Car alorue of 500 Practical Cooks, ad(ir«s«IsAXXOXAXi
Book Ca, 73 Be«kmaa&t.,K«w York. .1 . ^.

; -.->.v^^.v-i '■-^•^^JiriifTiirini'WiiiM-tii.ittiriiitvi A^k-^^^

EXPRESS.

The only line ruoning a through sleeping car vi-t Buffalo and Detroit without change,
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex-
press Trains for Iowa, Nebras^ka, Kansas, Colorado, the Pacific Coast, Wisconsin. Minnesota
and all {>oints In the

WEST AND NORTHWEST.

. I'. I. |- - '

THE ABOVE TBAIXS BXTN DAILT, SUNDAYS EXCEPTED,

This Great Short Linepasses tlirough the most celebrated scenery in the country, iadudlngthe famoof
HOOSAC Tin^NEL, four and three-quarters miles long, being the longest Tuimel
I j !f in America, and the third longest iu the world. |

nnckett, Drawlnv-Room and Sleepingr-C^ar Acconunodations may lie secured In AdTancc

by Applying to or Addressing

250 K] WASHINGTON STREET, BOSTON. 250

JOHN ADAMS, General Superintendent. f . 0. HEALD, Acting Gen'l Passenger and Ticket Agent.

la effeet January 9tlif ISSSt and aaldect to chance*.

■ft.

r
f
I

Ji hJt^^ iiiftj^l^l

AMERICAN RAILROAD JOURNAI.

E. W. Vaiidebbilt.

E. M. Hopkins.

VANDERBILT & HOPKINS,

lUilroail Ties,

Car and Railroad Lumber, White and Yellow Pine and Oal

lao Uberty Street, iV. Y.

Also North Carolina Pine Boards, Plank, and DimtB
iions Lumber to order. General Eailroad SuppU«».

SH[TGG BROTHERS,

DESIGNEBS AND ENGBAVEES ,

XVT>

PHOTO ENGRAVERS,

No. 18 Cortlandt Street,

NEW YORK.

KNOX Al SHAIN,

Manufacturers of Engineering and Telegraphic Instru-
ments. No. 716 Chestnut Street, Philadelphia. Two
Medals awarded by the Frankhn Institute, and one by
1 be Centennial.

PATENTS

We continue to act as Solicitors for Patents, Caveats,
Trade Marks, Copyrights, etc., for the United States,
Canada, Cuba, England, France, Germany, etc. We
have had tliirty-five years' experience.

Patents obtained through us are noticed In the Sci-
entific AMERICAN. This large and splendid Illus-
trated weekly paper, $ 3 .20 a year.shows the I'rogress
of Science, is very interesting, and has an enormous
circulation. Address MUNN & CO., Patert Solici-
tors, Pub's, of Scientific American, 37 Park Eow,
JiifewYork. Hand book about Patents free.

A. L^ B K, I O A. N"

COMBINATION SAW.

Without Lathe.

Price $6 without Lathe ; with Lathe, $8.
Addkess the Manufactubebs,

C. M. CKANDALL & CO.,

MONTBOSE, Susquehanna Co.. PA.

FAIRBANKS' S^^^n'SA^Es.

" ADAPTED TO ALT. CLASSES

OP BUSINESS.

' Railroad and Waretionse Trucks,

AND COPYING- PRESSES

Oldest and Largest
Scale Works in the World.

BUY ONLY THE GENUINE.

Dormant Warehouse Scales.

Fu^ rR,B,A^TIS:S <Sb CO.,
811 Broad uay, New York.

FIDELITY AND UASUALTY COMPANY,

CASH CAPITAL, - - - - $250,000.

FIDBLiIT^X' B03STDS.

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and responsibility,
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required lor the Ikithlul per-
lormance of the duties of employes in all positions of trust.

.A.OOIDEN-T FOLIOIES.

Policies issued against accidents c(, using death, or totally disabling injury, insuring fi-om FrvK HtT>T)HED
DoLLABs to Ten Thousand in case of deatn, and &om Thhee Dollabs to Fifty weekly indemnity in case of dis
abling injuries.

WM. M. BICBJlRDS, Prat. JOHN M. CRANE, .Sec'jr.

DIRBOTOI^S:

George T. Hope.
G. G. Williams.
J. S. T. Steanahan.

H. B. Claflin.
A. S. Barnes.

H. A. HCELBUT.

W. G. Low.
Charles Dewnis.
S. B. Chittenden.

Geobge S. Coe.
Wm. M. Bichabds.
A. B. Hull.

STEEL

■*..■*,:" > ,■ <-^

CASTINGS

FROM 1-4 TO 10,000 lbs. WEIGHT.

True to pattern, sound and solid, of unequalcd strength, touebness and

durability.
Aji invaluable substitute for forpings or cast-irons rcquirinc three-fold

strencth.
CROSS-HEADS. ROCKER-ARMS. piston-heads. FTC, fot

Locomotivc-s
15,000 Crank Shafts and lO.OCO Gear Wheels of this steel now mnninf

prove itssnperiorityoverother Steel Castinc.
CRANK-SHAFTS. CKOSS-HEADS and GEARING, specialties.
Circulars and Price Lists free. Address

CHESTER STEEL CASTING CO.

407 Library St., PB[IJLAI>£I.rHX.V
IVortLS. CU£ST£R. Pa. 1

SWIFT'S IRON AND STEEL WORKS,

26 W. THIRD ST., CINCIN NATI, OHIO. ,

Manufacturers of aii Weighis of Standard and Narrow Gauge Rails by the most approved process. Also Rail Fastenings,

Steel and Bloom Boilv Plate, and Tank, Sheet and Bar Iron.

BETHLEHEM IRON C O.
IRON AND STEEL R AILS.

GEO. A. BVANS.

No. 74 Wall Street, - - - New York.

Sandusky Rail Mill Co.
Mw Albany Kail Mill Co.

STEEL RAILS,

IRON RAILS,

BLOOMS.

|C.H.0I

\ 104 Jo

ODELL, AGT.

hu St., N. T.

FOR SALE IW I OTS TO ^UIT.

: Prompt Delivery.

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS,
AND FOR RE-ROLLING OLD RAILS.

OLD RAILS AND SCRAP AND CAB WHEaS BOUGHT AND SOLO.

L^-jj

i AMERICAN RAILROAD JOURNAL.

HEAT,

^ i U 1 AND-

FROST-PROOFING.

Orer 3,600,000 lbs. now in actual use ; 614,000 IbH. of which have bfen applied in cars as shown in diagram
Adopted by the New York Steam Compj^ny, to the exclusion ol everything else, to insulate its undergroum

Sample and circular free by mail.

round system of steam distribution.

UNITED STATES MINERAL WOOL COMPANY,

ITo. le Oortla^r^cit Street,

ISTEJ-W- -S'OI^IC.

MANUFACTURE WROUGHT I RON PI

WORKS: ^ -

S'o^l^f^jrss?""! NATIONAL SPECIAL SEMI-STEEL .^locoMorivt

AND TUBES.

OFFICES:

TIIBPS 1 04 and 1 06 John St., N.Y.

8 Pemberton Sq., Boston.
I 59 Lake St., Chicago.

USTAULISHED IX 1836

lOBDELL CAR WHEEL COMPANY,

IVIlming^ton, Delaware.

GEOBGE G. LOBDELL, President. |

WTT.TJAM W. LOBDELL. Secretary. I

P. N. BRENNAN. Treaturer. 614 TO 626 WEST 24TH ST.,

EAGLE
TUBE CO

CEO. R. WOOD,

H m BinWlI BISIHESS.

steel and Iron Rails,

J. C. BEACH. Treas.

C. H. ANTES. See'y.

]

New York.

THE

■1

ALLEN PAPER CAR WHEEL COMPT.

GeiiM Office, 940 Bioadwu) , N. Y.

WoBES AT Pttllmak, III., and Hudsos, New Yokk.

Boiler

No. 19 WiUiam St., NEW YORK.

^■

Tubes,

A]^ I2sDESTRUCIlBLE WHEEL FOR PASSEN-
GER CARi AND ENGINES. I

A. Whit\ey & Sons,

CAR WHEEL WORKS, | ^

Callowhill and 16th Streets, i

Of all regular sizes, of the
best material, and
I i¥arranted.

PHIIiADEIiPHIA, PA. ]

W« furnish CHILLED WHEELS for Cars. Tmcks, and
Tenders. CHILLED DRIVING-WHEELS and TIRES foi
Locomotives. ROLLED and HAMMERED AXLES.
WHEELS A2JD A'^T-T'-^ FITTED COMPLETE.

liOComotiTe Water-Grates a
specialty, and 2o per cent

below regular prices.

Piioes lower tlian other Mannlctiiiers.

RAILROAD IRON.

The undersigned, agents for the manufacturers, are
prepared to contract to doUvsr best quality Araerican
or Welsh Steel or Iron Kails, and of any required
weight and pattern. Also Speigel and Ferro Manganese.

PERKIIVS & CHOATC:,

33 Nassau Street, fSKl/ff YORK.

First-Class Engrlish

lROi\Ai\D Steel Rails

AT LONDON PRICES, P. 0. B.

We also purchase all classes of Railroad Secorltiw
and negotiate loans for Railroad CompaniM.

Will A. OUE§T & CO ,

M"o8. 41 and 43 Pine Street, New York.

STEEL

CAR

PUSHER

MADE ENTIRELY OF STEEL

ONE MAN with it can easily
move a loaded car.

Manufactured by E. P. DWIGHT,

Dealeb in Railroad Sufplixs,
407 LIBRARY ST..

P TTTT.Ar>yT ,PtrT ^ ,

-.:r.^-..

NO PAYMENT REQUERED UNTHi

TUBES ARE TESTED AND

SATISFACTORY.

AT. B.— Send for St<»ck List.

t-OTTOIV-SEEn IfUtLS

For Packing Journal Boxes of Cars.
I National Railway Pateit Waste Co.

240 Broadway, • Ifew York.

Safety Railroad Switches

WITH MAIN TRACK UNBROKEN.

Eailroad Crossings, Froors, and Othar
Railroad Supplies. j

- ■ MANUFACTUBED BT THE \

WHARTON MMOAD SWITCH CO.,

PHILADELPHLA-

-0^. . -Jl. ' *".

•*i3-^ :t: I. T...fV

Works: 93d and IVasliiiiffton Ave.
Office t U8 South 3d Street.

i; . .^i^ ■■ ••-' ■' '- ■ ^ ■•.■t:.^-.-.^:-',i-t.^-,. ^. Jut ,|,Tf- „<

steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures.

Skoond Quabto Skbebs.— Vol. XXXVm., No. 6.]

NEW YORK, FEBRUARY 11, 1882.

[Wnout No. 2.390-— Vol. LV.

Combustion of Fuel.

By Prof. 8. N. Carvalho.
[Out of "Pro-Bono Publico."]

What is the Scientific Theoby of the Com-
bustion OF Coal ?

[Continued from last week.]

And we also see if this bituminous part be
not consumed and turned to account, it would
have been better if it had not existed in the
coal, as such heat would in that case have been
saved and become available for the business of
the furnace. And to this circumstance may
. be attributed the alleged comparative greater
heating properties of coke or anthracite over
bituminous coal.

Then coal cannot be ignited or converted
into flame?

Coal gas may be converted into flame ; coke
may be ignited ; but coal can neither be igni-
ted nor converted into flame.

Can smoke be consumed or burned?

Smoke, properly speaking, being once form-
ed, cannot be ignited or inflamed in the same
furnace. ,- _

Hydrogen and carbon are the constituents of
the gas evolved from the application of heat to
bituminous coal. This gas is carbureted hy-
drogen, and carbureted hydrogen is sometimes
called olefeant gas. > : ,

The philosophy of combustibility is here
explained.

Combustibility is not a quality of the com-
bustible taken by itself. It is, in the case now
before us, the union of the combustible with
oxygen, and which, for this reason is called the
"supporter," neither of which, when taken
alone, can be consumed.

In ordinary language a body is said to burn
when its elements unite with the oxygen of
the air, and forms new products. One of them,
the hydrogen, is termed the burning or com-
bustible body, and the oxygen is said to be the
supported. But this language, though conven-
ient for common use, Dr. Kane says, is incor-
rect as a scientific expression ; for oxygen may
be burned in a vessel of hydrogen, as well as
hydrogen in a vessel of oxj-gen, the one and
the other being equally active in the process,
and being related to each other every way
alike.

Then, strictly speaking, combustion means
union?

Yes ; but then we must remember that coal
gas, whether generated in a retort for iUumi-

nating purposes, or in a furnace for heating
purposes is essentially the same. It is not in-
flammable, as by itself it can neither produce
flame nor permit continuance of flame in other
bodies. A lighted taper introduced into a jar
of carburetted hydrogen (coal gas) so far from
inflaming the gas, is itself instantly extin-
guished.

The great object in entering so elaborately
into this subject is because it is of the greatest
importance that those persons to whom are en-
trusted the firing of furnaces, as well as to
those who construct them for boiler purposes,
should understand the subject thoroughly.
Effective combustion for practical purposes i?
more a question regarding air than the gas,
because when we throw coal on the fire in the
furnace, we have no control over the quantity
of the gas, but we can control the atmospheric
air in all the essentials to perfect combustion.
The following facts are collated from C. W.
Williams, and other celebrated writers.

CHEMicAii Combination
is the ascertaining the quantity of oxygen with
which any gas will chemically combine, and
the quantity of atmospheric air required for
supplying such quantity of oxygen. Here then
we are called upon for chemical proofs, which
we shall exemplify in the simplest manner
possible. These several quantities, depending
on the faculty of each in combining with cer-
tain definite proportions of the other— the
supported ; these respective proportions be-
ing called " equivalents," or combining vol-
umes. Now, this doctrine of " equivalents,"
the all-convincing proof of the truth of Jchem-
istry, reduces to a mere matter of calculation
that which would otherwise be a complicated
tissue of uncertainties.

Weights and Volume of the Gasy Compound.
An atom of hydrogen is double the bulk of
an atom of carbon vapor, yet the latter is six
times the weight of the former.

Again, an atom of hydrogen is double the
bulk of an atom of oxygen ; yet the latter is eight
times the weight of the former. So of the con-
stituents of atmospheric air — nitrogen and oxy-
gen — an atom of the former is double the bulk
of an atom of the latter ; yet in weight it is
fourteen to eight.

We have seen that there are two descriptions
of hydro-carbon gases, in the combustion of
which we are concerned, both being generated
in the furnace, and even at the same time, viz:
the carbureted and the bi-carbureted hy-
drogen gases ; the proportion of the latter in

■ ^ .'•5

coal gas being estimated at about ten per cent.
For the sake of simplifying the explanation I
will confine myself to the first. i

On analyzing this gas we find that tt consists
of two volumes of oxygen and one of carbon
vapor, the gross bulk of these three being con-
densed into the bulk of a single atom of hydro-
gen, that is into 2-5ths of their previous bulk-
Now, let us examine analytically an atom of
atmospheric air. Atmospheric air is composed
of two atoms of nitrogen and one atom of oxy-
gen ; each of the former being double the vol-
ume of an atom of the latter, while their rel-
ative weight are as fourteen to eight ; the gross
volume •! the nitrogen, in air, being thus four
times that of the oxygen, and in weight as
twenty-eight to eight.

In the coal gas we found the constituents
condensed into two-fifths of their gross bulk.
This is not the case with air, an atom of which
is the same, both as to bulk and weight, as the
sum of its constituents, as here shown. Thus,
we find the oxygen bears a proportion in vol-
ume to that of the nitrogen, as one is to five ;
there being but twenty per cent of oxygen in
atmospheric air, and eighty per cent nitrogen.
We now proceed* to the ascertaining of the
separate quantity of oxygen required by each
of the constituents (of the gas) so as to effect
its perfect combustion. With respect to this
reciprocal situation, the great natural law is,
that bodies combine in certain fixed propor-
tions only, both in volume and weight.

The important bearings of this elementary
principle, as laid do^vn by Berzelius, cannot b«
more strikingly iUustrated than in the combi-
nations of which
The Elements of Atmosphebic Aib abe Sus-

CBaTTIBLE.

We shall devote a short space to explain this,
although it may not be exactly in connection
with the combustion of fuel. J

Oxygen unites chemically with nitrbgen in
five different proportions, forming five distinct
bodies, each essentially different from, the oth-
ers, thus : • ['
1 atom of nitrogen, weight 14. unites with 1 atom of

oxygen, weight 8, forming nitrous oxyde 22 gross

weight.
1 atom of nitrogen, weight 14, unites wit^ 2 atoms of

oxygen, weight 16, forming nitric oxyde, 30 gross

weight.
1 atom of nitrogen, weight 14, unites with 3 atoms of

oxygen, weight 24. forming hypo-nitrous acid, 38

gross weight.
1 atom of nitrogen, 14 weight, unites with 4 atoms of

oxygen, weight 32. forming nitrous acid, 46 gross

weight.

AMERICAN RAILROAD JOURNAL.

■:^^M.±l

1 atom of nitrogen, 14 weight, unites with 5 atoms of
oxgyen, weight 49, forming nitric acid, 54 gross
weight.

We here find the elements of the air we
breathe by a mere change in the proportions
in which they are united, forming so many dis-
tinct siibstiinces, from the Laughing Gas (or
what is used as anesthetic) nitrous oxide, up
to that most destructive agent, nitric acid, com-
monly called aqua fortis. j

(TO BE COXTINTJBD.)

[For the Amebic an Railroad Journal.]

Warmuig and Ventilating Railroad
■ Cars. ■ • ! ', ' ■ ' I ■■■

Much time and money have been expended
in testing various processes for warming and
ventilating railroad cars. Not much, however,
has been expended in this direction by the rail-
road companies. They have been shrewd
enough to let outside parties do that. Many
of them have been^ and are still, content to put
in the cai*s the old-fashioned cast-iron stove.
The more tasty cover it up with a casing of
handsome sheet-iron, and call it a patent safety
regulator. Some do not even take the trouble
to do that, but when you enter their cars the
first thing you see is one of those red hot
stoves, ready to spread death and destruction
even with a slight concussion, to say nothing
about the upsetting of the cars. One of the
great lines between^the East and the West is,
or was a short time since, still using the old
fashioned wood stove put in by our "Dads,"
when coal was in little use on the cars. The
parties most interested seem to care the least
about the matter, while there are but few lines
of any extent that have not lost enough
money by fires to pay for good heaters. The
fact is the heating and ventilating of railroad
cars seems to be btit little understood. The
currents of air in and around a train in rapid
motion seem to be diif erent from those that
surround us in our homes or when the cars
are at rest. Who has not gone into cars in the
depot heated to suffocation, when but a short
time in motion would make them uncomfor-
tably cool. When the cars pass through a cur-
rent of air laden with unpleasant odors how al-
most instantaneously does it pervade the whole
car. This shows that if there is proper ingress
and outlets the atinosijhere is changed almost
at once— much more rapidly than we can
change the air in our houses or places of pub-
lic resort. ■ \ ■[.:• " -"'.■■ I ■ "■ ]-:

There is another matter that seems to have
escaped the attention of our railroad com-
pan-ies, and it is so self-evident that the wonder
is that it has not been universally adapted. I
mean the placing of thermometers in ^he cars.
The temperature and clothing of the passengers
is as varied as their faces. One wrapped in
shawls, overcoats and under-wear enough to
stand the cold of Greenland, calls the attention
of the brakeman to his stove, it being entirely
too hot, that he is roasting the passengers alive,
&c. The brakeman, ready to accommodate
everyone, as they always are, opens the stove
doors to allow them to cool off. He has hardly
done so before your thin nervous individual,
with hardly heat enough in his body to keep his
soul in it, rushes up to our bewildered shovel

and poker man, exclaiming, " Zounds, man,
are you going to freeze us all !" Now, all this
"unpleasantness" could be avoided by putting
a thermometer in the car where everyone could
see it. The brakeman could then point the pas-
sengers to his authority for regulating the tem-
perature of the cars, and they could see for
themselves whether he was right or not. The
expenditure of a few cents would remove the
cause of a great deal of trouble, and the
experiment has proved that with the proper
heating apparatus and the right attention the
air of the car can be as well regulated as that of
our most comfortable dwellings. These, how-
ever, are minor points in regard to the comfort
and safety of railroad traveling. The main
question is, Can any means be devised by which
these horrid burnings that fill so many homes
with woe and mourning almost every winter be
avoided? If they can, does not the cause of
humanity, if nothing else, demand that they

should be adopted.

Railroad companies are all very particular
about their locomotives; the strongest and best
materials alone are used in their constnjetion.
But when it comes to warming their cars, which
is really of more importance to the passengers
as regards their safety and comfoi t than the
means of locomotion, they are content to use
the most flimsy stoves, made of thin cast-
iron plates, and thinner sheet-iron, that fly to
pieces with very slight concussions, or from the
overturning of the cars. Since the recent dis-
aster much has been said and written about
warming cars. Some propose steam, but cer-
tainly a little reflection would convince anyone
that this would not do. The fire used in
generating the steam would be as dangerous as
any other, and besides the passengers would be
exposed to the scalding steam, thus adding
another horror to those already so frequent.
Some of your legislators talk about compelling
railroad companies to carry fire-extinguishers. If
I understand the nature of the gas used in these
machines, it is as fatal to life, almost, as fire
itself. The hot water heaters used in sleeping
cars have very frequently been found wanting,
notably in the recent disaster on the Hudson
River Road. None of the appliances that have
been used have been found reliable in such a
great smash up as that just mentioned, and the
question naturally arises. Can anything be
found or used that would be available to pre-
vent such woeful burnings ? In our ordinary
transactions, where we have great force or power-
ful concussions to resist we are careful to select
the best materials we can get, and we put them
together in the strongest possible manner.
Why not do this in getting up stoves for our
railroad cars ? Why not make them of the best
boiler iron, riveted together in the strongest
possible manner, so that even the boiler of the
locomotive itself is not stronger ? This can be
done and has been done, affording the same
quantity of heat, at the same or even less cost
than the stoves in common use. Possibly
they may require a little more attention from
the train men or car tenders at the stations, but
is that to be put up against the burnings and
sufferings that so often occur ? Are railroads
to be run with as little possible work as will
barely enable them to get through for the benefit

of car cleaners and fire tenders ? Suppose it
does take some more trouble to attend to this
kind of a stove or heater ! Do not the advan-
tages derived from them more than offset the
extra work ? Another thing about these wrought
iron heaters: Everyone that has had any ex-
perience in warming houses knows that the hot
air from a wrought-iron heater is much more
healthy and agreeable than that from cast-iron.
Red hot cast-iron seems to act chemically on
the atmosphere, depriving it of some of its
constituents, rendering it unpleasant and un-
wholesome. Is not the great point under con-
sideration worthy of some experiments to dem-
onstrate how far such heaters may be substi-
tuted for these magazines of destruction now
found in our very best and most popular cars ?
Do not railroads owe it to the public to make
some effort for greater safety than is now
afforded? J. 0.

Watsontown, Penn., Feb. 4, 1882.

How THE French and English Travel — If
you are traveling at night, with French fellow-
travelers, the difference between English and
French people will show considerably. The
Frenchman will put on a soft silk cap ; he will
tie a handkerchief round his neck ; he will
even tie a scarf over his head and under his
chin in order to be secure from the draughts ;
he will take off his boots and produce an old
pair of slippers from his bag ; and he will dis-
pose himself for sleep, carefully covering him-
self with rugs. The Frenchwoman will be
equally prudent. She will put on a long, loose
jacket, of pretty material and pretty make, you
may be sure, and under this she can afford
to loosen the tight dress-bodice that fashion
requires. She also will produce an elegant
pair of slippers, matching the jacket, and will
swathe her head and shoulders in a dainty
woolen fichu, of the same color as jacket and
slippers. In the early morning, when day-
light is breaking over the silent land, and
bursting in streaks into the carriage, the
French travelers refresh themselves with an
informal toilet. The lady pours some eau de
rose or eau de lavande into a tin cup, and with
the comer of a small towel, brought on pur-
pose in the handbag, wipes her face diligently.
With her brush and comb she arranges her
hair, and she adjusts her hat or bonnet, packs
up her long jacket, slippers, etc., and is usually
taut and trim when, at the next station, it is
announced that cafe au lait is served at the
buffet, and that the train will stop for twenty
minutes.

We English more often tumble out of the
railway-carriage in a condition that would lead
one to think we had passed the night in a
peasant's cabin. The English travelers disdain
the precaution to which I have referred : they
will declare that they cannot sleep in the train,
therefore it would be useless to make any prep-
arations. Presently they begin to nod and
sway about, and finally, being only fallible
hiiman beings, fall asleep, their hats being
flattened against the back of the carriage, their
clothes creased and tumbled, and their feet
aching because of the unwonted confinement
in stiff walking-boots. Thus they sleep in the
utmost discomfort. When the morning comes,
then they are pitiable to look upon ; and seen
in the early sunlight, it will be hard to believe
that the Frenchman is not more learned in the
art of traveling than the Englishman. — FVom
Tinsley's Magazine.

•iHtit^iii^Ld-^

AMERICAN »RAILRO AD JOURNAL.

PUBLISHED WEEKLY BY THE

AMERICAN RAILROAD JOURNAL CO.,
284 Pearl St., cor. Seekman, New York.

Subscription, per annnm, in advance $6 00

Foreign Subscription, including postage 6 00

Subscribers are requested to report to our office any
irregularity in receiving the Jouknal.

Payments for advertising and subscriptions should be
made by check payable to order of the Treasurer.

Mr. Fbedsbio Aloab, Nos. 11 and 12 Clements Lane,
Lombard Street, London, E. C, England, is the author-
ized European Agent for the JoxTBNAii.

At the annual meeting of the Amxbican Ratlboad
JoxfBNAi, Co., held at the office of the Company, No. 284
Pearl street. New York, February 8, the following offi-
cers were elected:

GEO. F. SWAIN. President.

S. PROCTOR THAYER, rice-Prerident.

EDW. A. WRlQWr, Treasurer,

CHAS. T. VALENTINE, Secretary.

■^^

New York, SaturdayT^ebruary 11, 1882.

Entered at Oie Post Office at New York City as Second-Class
Mail Matter.

The offices of the American Raxleoad Joue-
NAL were removed last week from 23 Liberty
street to 284 Pearl street, in the Market National
Bank Building, corner of Pearl and Beekman
streets. The Jouenal has experienced in its
career of over fifty years but few changes in its
management or places of abode, having been
located for about thirty years at its old quarters
near Printing House Square. The erection of
new buildings in Park Row necessitated a re-
moval to temporary quarters last year. The
changes of the past year and the rapidly in-
creasing business with whict the Jouknal is
being favored, and for which it takes this op-
portunity for thanking its new and old time
patrons, have led to our securing, permanently,
more desirable offices in a better location, and
enlarged facilities for perfecting further im-
provements of the Jouenal.

SAVINGS BAITKS.

"pVERY once in a while we are asked
^ the question, " What is the best in-
vestment for a poor man?" We have
never hesitated to reply, " The savings
bank that pays only four per cent inter-
est." Maiy to whom we have given this
reply have looked at us incredulously, and
expressed a doubt as to their safety.
Others have sneered at the smallness of
the rate of interest, and claimed that they
could let their money to better advantage
and feel fully as safe as they would if
their money was in the savings bank. It
18 very easy to see the process of reason-

ing by which many come to this conclu
sion. The savings banks must loan mon-
ey at a higher rate than they allow de-
positors, or must fail in time. These
banks have loaned money at a higher
rate than they have paid, and have failed;
hence the depositor reasons that he had
better take the higher rate and run the
risk of his borrower failing than to loan at
the lower rate and run the risk of the
bank failing. This state of feeling is the
natural result of so many savings banks
failing a few years ago, whereby many
poor men lost the bulk of their hard-
earned savings. Many of these men had
worked years for small wages, out of
which, by dint of the closest economy and
self-denial, they had managed to lay aside
a little every year, looking forward to
their old age as being provided for by
these savings. The banks failed, and the
economy and self denial of these poor
men were wasted.

There is no use in disputing the fact
that the savings banks for many yeare
prior to these failures were guilty of many
mistakes, to say the least. Looking at
results, we might say they were criminal.
When we take a result to be condemned,
it does not make much difference whether
the author was a knave or a fool, for the
character of the author does not alter the
result. A man takes potash by mistake,
and another takes potash intentionally.
Because one takes it ignorantly, as a fool,
and the other intentionally, as a knave,
potash does not change its character but
performs its same deadly mission in both
cases. Just so in regard to the manage-
ment of savings banks. Some were man
aged by fools and some by knaves. The
result was the same in both cases — failure
of the banks, and loss and suffering to the
depositors. The banks which did not
lose sight of the purpose for which they
were created, while they were assailed as
old fogyish and conservative, did not fail,
and are in existence to-day, sound and re-
spected.

Now that years have elapsed since
these failures, and the wounds caused by
them have in a measure healed, it is well
to look at the causes producing them. In
writing of these causes we leave out en-
tirely the banks that were intentionally
dishonest, and deal with those whose in-
tentions are good.

The first cause we write of refers to
those banks having for managers men who
were engaged in real estate speculations.

These men had bought a large tract of
land, and were engaged in building houses
which they sold for one-fourth cash and
three - fourths mortgage. These mort-
gages they had no diflBculty in placing ia
the sa^^ings banks of which they were
managers. The building of houses had
increased the value of their land from ten
cents a foot to fifty cents. The cost of
the houses was additional. A savings
bank managed by such men did not have
to wait many years before it held two
hundred thousand dollars worth of mort-
gages on property valued at two hundred
and fifty or three hundred thousand dol-
lars, the original cost of which land
was only twenty thousand dollars. A
revulsion in business prosperity takes
place; there ceases to be a demand
lor real estate ; parties holding are anx-
ious to sell, as the money is needed in
business ; real estate depreciates fifty to
seventy-five per cent, and the mortgages
are now worth less than half their face
value. The bank loses one hundred
thousand dollars or more of its depositors'
money, and fails. i!

Another cause ©f failure is in the start-
ing of a bank for the purpose of giving
some man a position, or, as it is termed in
street parlance, making a " snug berth "
for some relative or friend too high toned
to start at the foot of the ladder and work
his way up. In such an institution the
trustees are apt to be only figure-heads,
as they have no interest in the matter,
their interest ceasing as soon as they had
made a snug berth for their baby. A
man thus placed generally has an idea
that he must astonish his friends by some
clever stroke of business and thus gain
the name of financier, as well as add to
the surplus of the bank. His operations
are in wildcat securities because they
promise best, and the result is he does as-
tonish his friends, but he does not add to
the surplus of the bank. On the contrary,
he and the trustees come down town some
fine day to find a long row of depositors
waiting to draw their money out They
realize that there is a run on their bank.

Another cause of failure is found in the
mean advantage some rich men take in
using the savings bank as an investment.
In some of the States the depositors in
savings banks are exempt from taxation on
their deposits. In consequence some very
close calculators have figured that the
rate of interest paid by savings banks
nets them more income than other invest-
ments equally safe, after deducting taxes.

'i'^^T'^e^^^,

AMERICAN RAILROAD JOURNAL.

So they open accounts in their name per-
sonally, as trustee for A, B, etc., until
they have as many accounts open as they
are worth thousands of dollars, if the limit
in the bank happens to be a thousand dol-
lars to each account. This system gives
a popular bank, at times, more money
than it can use advantageously, and it
finds itself paying twice as high a rate of
interest as it receives. The end of such a
condition is easily told. The last cause,
with which this article will deal, is what
is known in business as " undue competi-
tion." All savings banks that have failed
can probably trace their downfall to this
cause, or to this cause with some one of
the others. It is first noticed in a bank
advertising to pay interest monthly in-
stead of semi-annually. Then some other
bank steps in and agrees to pay one half
of one per cent more. The evi! spreads
until the startling announcement is made
that such and such a bank will pay seven
per cent. People flock to this bank with
their deposits. Wise men shake their
heads and advise their friends to keep
away. The president recognizes that he
has a herculean job, and becomes a
sharper. Some one desires a loan There
is such a thing as legal interest. Legal
interest will not pay seven per cent, and
the expenses of running a bank. The one
desiring the loan is requested to see the
president. There is a long conversation,
the end of which is the borrower pays
the bank the legal interest and the presi-
dent a bonus of two per cent more. All
money loaned this way makes an enemy
. of every borrower so accommodated.
Every borrower so accommodated is to
a great degree a worthless customer, and
his security far from gilt-edged. A light
money market, and a run is made on the
bank, and the bank is obliged to close its

doors. ■ . .1 / ■ 'V ■■- ■ I ■

Now what is the remedy to be applied

to make all savings banks safe ? There
is but one' remedy, and that is a return to
the original design ol the institution.
The State recognizes as a fact that every
man with a dollar saVed has a personal
interest in maintaining law and order,
and the protection of property. The
breakers of law, the disturbers of order
the destroyers of property, are men who
have nothing to lose, and hope by so
doing to make a gain out of their law-
lessness. To make it an object for all
men to save something, some States
passed a law exempting savings bank
deposits from taxation, at ttie same time >

designating by legislation certa'n classes
of investments as proper for these banks
to invest their funds in. The design was
to give these banks the means of earning
with their deposits a rate of interest small
enough to command the best securities j
and yet large enough to enable them,
after deducting necessary expenses, to
pay the depositor a fair rate of interest.
This rate of interest would necessarily be
less than the bank received, and therefore
not as large as the depositor would re-
ceive had he capital enough of his own to
make an investment. In this fact we
gather the whole intention and scope of
a savings bank. It was not designed as
a pool managed by real estate speculators
to cash mortgages they received from
their costumers ; it was not designed as a
snug berth for some high toned man ; it
was not designed as a loop-hole through
which some rich men could escape paying
taxes ; it was not designed as a busi-
ness in which competition was expected
or justifiable. On the contrary, the de-
sign was that such institutions were to
be managed with such strict prudence
and economy that none but gentlemen of
philanthropic tendencies could afibrd to
be oflBcers and managers. Not being
framed nor designed as places of business,
in the strict sense of the word, it follows
as naturally as day follows night that
they were instituted for the benefit of the
workingman. This being the case it was
the duty of such an institution, while it
paid a rate of interest large enough to
encourage savings, to use its influence,
when any depositor's savings became
large enough, to urge him to draw out
and make an investment. This is a duty
the bank owed to the State in making the
man a tax- payer, and also a duty to the
man in helping him to earn a larger rate

ol interest, and at the same time enjoy the

feeling ol being a tax-paying citizen. In

this season of prosperity when statistics an-
nounce a return of confidence in savings banks,
and poor men are using them for their savings
once more, we have deemed it our duty to
point out the causes of failures in years past,
and to prescribe the remedy which will prevent
failures in future. This remedy is simply a
return to the plan originally designed when
savings banks were instituted.

In conclusion we do not hesitate to raise the
warning cry to every man, woman and child,
to avoid as they would the small-pox, that
bank which offers more than four per cent
per annum, and to draw out of the bank their

money just as soon as they have saved enough
to buy a single share of stock which is ap-
proved by savings bank law. By observing
these two precautions the poor man will have

taken the surest means of protecting his own.

^—

CONSTRUCTION. '

Track laying began on the Texas and St.
Louis railroad east from Texarkana on the 3d
inst.

The new Madison and Milwaukee branch of
the Chicago and Northwestern Railway was
formally opened on the 1st inst. 1

Work is to be commenced at once on the
Greenwood, Laurens and Spartanburg Railroad
at Greenwood, S. C. A force of convicts has
been hired from the State and teams and tools
secured.

A DESPATCH from Guaymas, dated January
29, says that the track of the Sonora Railroad
is laid for forty miles beyond Hermosillo. The
want of ties will delay the further prosecution
of the work at present.

A LETTER from Mineral Point, Ohio, says that
Duffin & "White, who had six miles of very
heavy work of the extension of the Cleveland
and Valley railroad, have their work nearly
completed. They have one solid rock cut 57
feet deep and 1,500 feet long. 1

The new oil fields along the line of the
Philadelphia and Erie railroad have necessita-
ted the construction of a branch line some six
miles in length, to the locality of the Blue Jay
wells. This extension has already been graded,
and the roadbed is now nearly finished.

It is proposed to build a railroad from Salis
bury, N. C, northward into the Yadkin Valley
and following that river to East Bend, and
thence by Danbury to the Vii^inia line and to
a connection with the Danville and New River
road. The project is based upon the assump-
tion -that the Virginia Midland has finally
abandoned its North Carolina extension.

The Lehigh Valley Railway Company are
now making surveys for an extension of their
road from Elmira to Buffalo, N. Y., which, if
constructed, will make the third or fourth new
trunk line across New York State to compete
with the New York Central, the New York,
Lake Erie and Western, and the Erie Canal for
Western traffic. \ "

The tunnel under the Welland Canal, through
which the trains of the Great Western Railway
pass, has been exempted from the operation of
the fifth sub-section of the Act-44 V. chap. 24,
relating to the height of clear and open head-
way to be maintained between the undermost
parts of bridges, tunnels, etc., and the tops of
the highest ears of a railway. 1

The Midland Railway Company of Canada,
have contracted for 8,000 tons of steel rails, to
be delivered during the months of May and
June next. These rails will complete the old
Midland with steel throughout, and also pro-
vide sufficient to lay the Toronto and Ottawa
division cf the Midland over its entire length.
It is hoped to have the Toronto and Ottawa
running by December next. . | :

Thb report of the West Virginia Central and

'- Wa*,-.-

aS'^ltflft- iftf^lTiaiTli" Vf"

AMERICAN RAILROAD JOURNAL.

-■^

Pittsburgh Eailway Company shows that on
the Ist of January last 12 miles of the road,
extending to Elk Garden Mines, in Mineral
county, has been completed, and that steel
rails for 40 more miles of track have been con-
tracted for at $58 per ton. Twenty miles of
additional grading is well advanced. The re-
maining 16 miles to reach the summit between
the waters of the Potomac and!- Cheat rivers
will be under contract in the Tspring. The
company commenced shipping coal to Balti-
more last October, and now 300 tons a day are
mined and shipped.

At a meeting of the Mexican National Con-
struction Company held in this city on the 2d
inst., it was decided to increase the capital
stock to $3,000,000, the reason being that the
mileage is greater than was contemplated at
the time of the previous subscription. It is
said that all the added stock has been sub-
scribed for. It was announced at the meeting
that 302 miles of the 729 had been completed,
that 550 had been graded, and that ties for 582
miles and rails and rolling stock for the entire
distance had been provided. The road is com-
pleted as follows : El Salto Division, 50 miles ;
Zoluca, 21 ; Monterey, 35 ; Zacatecas, 12 ;
Matamoras, 4J ; Tlaxcala, 2i ; total miles in
Mexico, 125 ; completed line in Texas from
Corpus Christi to Laredo, 167 miles ; total miles
now finished, 302.

The Kinzua creek flows at the bottom of a
ravine between Bradford and Alton, Pa., over
300 feet deep and 2,250 feet wide. This chasm
has for years prevented a railroad connection
between that region and Pittsburgh. The New
York, Lake Erie and Western Bailroad Com-
pany is now spanning the ravine with a bridge
to make the long-desired connection by extend-
ing its Bradford branch to Johnstown, Pa.
The bridge will be the highest railroad bridge
in the world — 305 feet. This is 60 feet higher
than Niagara Suspension bridge, 170 feet higher
than the great bridge across the Ohio at Cin-
cinnati, 180 feet above the High Bridge, New
York ; 170 feet higher than the East River
bridge, and 45 feet higher than Portage railroad
bridge over the Genesee River. The Kinzua
structure will consume 40,000,000 pounds of
iron. It will require 30,00(1 yards of masonry.
The cost will be over $500,000. The Bradford
branch will connect with the low grade divi-
sion of the Allegheny Valley Railroad and will
make a short through route between New York
and Pittsburg.

In good hands : — He was a country young
fellow, a little awkward and bashful, but of
sterling worth of character. She was a Cincin-
nati belle and had sense enough to appreciate
his worth, despite his awkwardness and bash-
fulness, and was his fiancee. On a gloomy
Sunday evening this winter they were standing
in front of the window in the parlor of her
home on East Walnut Hills, watching the
snowflakes rapidly falling outside. He was
not up in society small talk, and being hard
up for something to say remarked, as he
watched the snow falling, " This 'will be hard
on the old man's calves and sheep." "Never
mind, dear," said she, slipping her arm around
him; "I will take care of one of them."— Oincin-
yuiii Commercial.

Varieties of SteeL

The Siemens-Martin, Bessemer, and Thomas
systems of making steel, in revolutionizing the
manufacture of this metaljhave given us, says
>7ron, three new descriptions of steel ; but they
have not entirely displaced the older processes,
by which large quantities are still produced. A
brief reference, therefore, to some of the most
common names, the products of the older mode
of manufacture, and still in use at present, will
be of service. Blister steel is made by causing
the carbon of charcoal to penetrate iron in a
heated state. German steel is blister steel
rolled down into bars. Sheet steel is made by
hammering blister steel. Double sheet steel is
made by cutting up blister steel and putting it
together and hammering again. Crucible steel
is made by melting in a pot blister steel and
wrought iron, or unwrought iron, and charcoal
and scrap. Of the newer classes of steel, Bes-
semer steel is made by blowing air through
cast-iron, burning out the silicon and carbon.
Siemens-Martin or open-hearth steel is made
by melting pig iron and mixing wrought iron
or scrap steel or iron ore to reduce the silicon
and carbon. Thomas steel is steel produced
like Bessemer steel, in converters, the main
difference being the basic lining.

Boiler Explosions.

At this time, when so many terrible disasters
are happening in the most unexpected direc-
tions, it is not reassuring to minds sadly
shocked by the appalling results of these
calamities to consider the dangers to which we
are constantly exposed through liability to
boiler explosions ; but it is certainly essential
that it should be considered and realized, and
measures taken to diminish the liability to the
lowest possible degree. Out of 331,218 boilers
inspected by a noted boiler insurance company
in this country, up to January 1, 1881, 36,627
were found to have dangerous defects show-
ing the startling fact that about one boiler
in nine in common use was in a dangerous con-
dition. The list of casualties from boiler
explosions every year is long enough and fear-
ful enough in its fatality and destructiveness
to property, but when the number of defective
boilers is proven to be so large, it becomes
a wonder that the list of casualties is not even
larger. It is to be hoped that the proportion
of defective to safe boilers has been consider-
ably changed since the investigations referred
to above were made, through the more extended
adoption of improved boilers, and the advance-
ment of skill in boiler construction and man-
agement. But, however this may be, there are
few subjects worthy of more careful study and
investigation than this in regard to securing the
utmost safety possible, in the important work
of providing steam power for its myriad of
uses.

The word " mystery " is most frequently the
only one used in attempts at explaining the
causes of boiler explosion. But stripped of- all
technical verbiage and attempts at smoothing
over by mystifying, the cause of boiler ex-
plosions generally can be explained as being
simply a want of strength sufficient to with-
stand the pressure, which may be due to either
of three causes ; original faulty construction,

or a weakening by strains through unequal ex-
pansion caused by unequal heating of different
portions of the boiler, or corrosion from long
use or improper setting. In an excellent work
on the generation and use of steam recently
issued by The Babcock and Wilcox Co., 30
Cortlandt street, a large amount of useful in-
formation on the construction and operation of
boilers, is given together with mention of some
of the chief causes of boiler explosions and
means for avoiding them. Concerning unequal
expansion it says : "There is good reason for
believing that most of the mysterious explo-
sions of boilers which stand the inspectors'
test, and then explode at a much less pressure,
are due to the weakening effects of unequal
expansions ; for a boiler that will stand a hun-
dred pounds test this week, cannot explode the
next week at fifty pounds pressure, unless it
has suddenly become wonderfully reduced in
strength, and no corrosion or other natural
cause with which we are acquainted, save
expansion, can produce this result. When we
consider that strains from difference of expan-
sion are generally greatest when firing up, and
when there is no pressure in the boiler, we
can see that the time maj' arrive when a crack
is started or the parts weakened, so as to give
way under a moderate pressure just after the
test has been made ; and the reason why so
many boilers explode in getting up steam, or
soon after, or in pumping in cold water, or, even
as in a recent case in England, while cooling
off."

The three elements of safety conspicuously
needed are plainly, ample strength, freedom
from unequal expansion, and such arraingement
of parts that if a rupture does occur it need not
necessarily result in a serious disaster. To
meet these requirements and at the saane time
to provide the essential characteristics', of
economy, accessibility and durability. The
Babcock and Wilcox Company have produced
their water-tube boiler, the leading features of
which are described as follows : "Being com-
posed of wrought iron tubes, and a drum of
comparatively small diameter, it has a great
excess of strength over any pressure which it
is desirable to use. As the rapid circulation of
the water insures equal temperature in all parts,
the strains due to unequal expansion cannot
occur to deteriorate its strength. The con-
struction of the boiler, moreover is such that,
should unequal expansion occur under extra-
ordinary circumstances, no objectionable strain
can be caused thereby, ample elasticity being
provided for that purpose in the method of
construction. In this boiler, so powerful is
the circulation that as long as there is sufficient

water to about half fill the tubes, a rapid cur-
rent flows through the whole boiler ; but if the
tubes should finally get almost empty, the ciY-
culation then ceases and the boiler might bum
and give out ; by that time, however, it is so
nearly empty as to be incapable of harm if
ruptured."

The invalid of the Boston Post draws the
following beautiful definition of justice from a
simple incident of domestic life: **We don't
want Guiteau hung. The sentence is too light.
Let him have the neuralgia, as we had it j'es-
terday, the balance of his life, and justice will
be satisfied."

ft.4.»^Lt4.aS.~;.>:jj^/j^;^. .tt. -., •liii-*, ■»tii-"h-"ir>im'' ■ • "-"^■' ^-•" I

^«£l,^^tati^bj£k:

"f . J wj^iJ^T _!^M^«W«V»ujii.»l^W'^Uu..vi|MJlui^jMj!i.yi*y swy^i.yill^^^^

■fi ,"- 1,« •;^_j,f«fjr

T?'!?"^«y"

AMERICAN RAILROAD JOURNAL^

New York Stock Exchange.

(Thursday's quotations follow money article.

(Jlssing Prices for the week ending Feh. 8.

Th.2. F. 3. Sat. 4. M. 6. Tu.7.

▲dama Express 147

Albany and Susq

Ist mortgage

mortgago

W. 8.

92 9Q 92»^ ^^% 93

85 >^
100

63 >^

94 >^

94 Ji

100

96*i

52^
95

95?i
U5>i lis"

108
89 >^

99?i 100

94J^ 95

95 >i 96

89^

108

91 >i
113?i

American Express. .

Atlantic k Pac. Tel.

Burl., C. R. ft Nor..
Ist^ortgage 58..

Canada Southern . .
1st mortgage guar

Central of N. Jersey

Ist mort. 1890

7s, consol. ass... 115
7s, convertible ass. . . .

7s, Income 103^

Adjustment 108'* 108 ^^i

Central Pacific 89 'i 89 )i

68, gold 114

Ist M. (SanJoaq)

Ist M. (Gal. ft Or.)

Land grant 6s

Chesapeake ft Ohio. 233^ 23?^
Ist, series B 81

Chicago and Alton .

Preferred

1st mortgage

Sinking Fund

Chi,, Bur. ft Quincy 135 V 136 135 U' 135 J4 135 >i 135?^
78. Consol. 1903.. 126 'i 126><i 126?^

Chi., Mil. ft St. Paul 109?i I09>i; 108?^ 109 '<{ 109?^ 109^

Preferred . 122}^ 122>i 122 122

Ist mortgage, 8s 135

2d mort., 7 3-lOs

7s, gold 125

Ist M. (La. C. div) 118>^

IstM.I. ftM.div.)

Ist.M. (I. ft D. ext.)

IstM. (H.ftD.div.)
Ist M.(C. ftM.div.)
Consolidated S. F.

24 >i
81

134 >i

24 24^

95?i

ii5>i

243i
82

N.Y.Cen.&Hud.R. 131 131^ 130?^ 131>^ 131 Ji 131 J^

68. 8. F. 1883 ;

68,S.F., 1887

Ist mortgage. ...
Ist mortgage, reg.

N. Y. Elevated

1st mortgage .

N. Y. ft Harlem

Preferred

Ist mortgage 135

1st mortgage, reg

N. Y., Lake Erie ft W 39Ji 40Vi 39Ji 39% 40Ji .39J^

Preferred 80 79>i 80 79>i

2d Consolidated.. 98 98% 98 Ji 99 99 99

New2d58fund ^%

N.Y.,N.Hav'n&Hart 171>^ 172 171%

North Mo. Ist mort 120?^

Northern Pacific... 34»i MY, 31>4 34

Preterred...... .. 72 72% 72% 72% 72%

133% 124

108%

116% 116% 116% 116%

33% 34 >i 34

34%

135 135%

114

Chi. ft Northwestern

119 ^i
135

Ohio ft Mississippi .

Pretflrre'l

2d mortgage 122

Consolidated 78 118%

Consol. S; Fund. 118%

Pacific Mail S. S. Co 44% 45% 43% 44% 44% 44%

Pacific R. R. of Mo

1st mortgage 106x 106 106%

2d mortgage 111%

Panama 190

Phila. ft Reading.. 62% 52% 62% 62% 62% 63 '4
Pitts.Ft.W.&Chi.gtd 134 135%

Ist mortgage

2d mortgage

3d mortgage

Pullman Palace Car 137 137% 139
Quicksil'r Min'g Co 12% 13

138% 138% 139

41%
85

61 ^i

61%

40%

57%

61%
41%
67%
59

60%
95%
39

119% 120

133% 132% 133?i 133% 134

Preferred 143% 143% 143% 142% 143% 143%

Ist mortgage 107

Sinking Fund 6s. 110 110%

Consolidated 7s

Consol. Gtoldbo'ds 126% 126

Do. reg

Chi., R. Isl. ft Pac. 133% 133 133% 133% 133

68.1917, c 126%

Clev.,Col.,Cin.ftInd. 80 81 80% 82

1st mortgage 125

Clev. ft Pittsburg gr 134

7s, Consolidated

4th mortgage ■.

Col..Chi..ftInd.Cent. 19% 19% 19% 19% 19 19

1st mortgage

2d mortgage

Del. ft Hud Canal. 107 107% 108 108% 1«8% 108%

Reg. 78, 1891

Reg. 78,1884 ..... 105

7b, 1894

Del. .Lack.ft Western 127% 128 127% 127% 127% i28%

2d mortgage 7s ■. .

78, Consol. 1907

Erie Railway '

1st mortgage 126

2d mort. 58, ext •

3d mortgage

4th mort. 58, ext

6th mortgage 113

78, Consol. gold 129% 129% 130

Great West. Ist mort

2d mortgage 106

Hannibal ft St. Jo. . 95% 94% 94%

Preferred 107% 107 107

88, Convertible

Houston ft Tex. Cen 82 81%

1st mortgage

2d mortgage 124 124 124

Uinois Central... 136% 136% 136% 136% 136 >i

LakeShoreftMichSo 111% 111% 110% 111% 111% 111%

Consol. 7b

Consol. 78, reg

2d Consolidated 126%

Leh. ft W. B. 7s. C«n

Long Dock bonds

Louisville ft Nash. 94% 94% 94 94% 96 94
7b, Consolidated 123

ManhatUn 53% 53 63

Ist pref 97

H't. Elevated

l8t mortgage 100% 100%

Ifichigan Central. . 86% 87 86%

7b, 1902 126%

Moms ft Essex 121% 123

Ist mortgage 136^

2d mortgage

7BOf 1871 123 122

78, Convertible i „.x 1.1.

!■. OoiMio:.u*te4 m irxtchburg.... 136

.3"

105%

94%

107%

107 k

98
108

Preferred 61

St. Louis ft San Fran 41

Preferredi 57

Ist Preferred 95

St. L., AlfnftT.H.

Preferred ....

1st mortgage

2d mort. prof

Income bonds

St. L., Iron Mt. &S

l8t mortgage 115 116

2d mortgage 109% 109% ...

Toledo and Wabash*

Ist mortgage

2dmortgage 108 106% , ...

7s, Consolidated

St. Louis Division

Union Pacific 118% 119 118% 118% 119 119

Ist mortgage 115% 115% 116

Land Grant 7s 113% 113%

Sinking Fund 8s. 122 121%

United States Ex 78% 78%

Wabash. St. L.& Pac 36% 36^

Preferred 67% 67%

New mort. 78

Wells-Fargo Ex 128

Western Pacific b'ds 110%

Western Union Tel. 80% 81 80% 80% 81%
78.,S.Fconv..l900 116

Fedebal Stocks : —

U. S. 48, 1907, reg 118%

U. S. 48, 1907, coup 118H 118% 118%

U. S. 4 ^is. 1891, reg 113% 113%

U.S.4%s, 1891, coup

U. S. 5s. 1881, reg

U. 8. 5s,confdat3% 102%

U. S. 68 cont'd at3»^i 101

Dt. of Col. 3-65S. reg

Dt. ofCol.3-658.coup 106%

35%
66%

130

36"^
67

122%
76%
36%
67%

128

36%
67%
102

110%
81%

63
96%

86%
123"

122%

53%

88
101

87
123"

126

66%

96%

90%

86%
123*

Boston Stock Exchange.

Pricet for the Week Ending Feb. 8.

I I Th.2. F. 3. Sat. 4. M.6. Tu.7. W. 8.

Atch.,Top.ft8an.Fe. 89 88% 87 87 87% 87%

Ist mortgage

2d mortgage

Land Grant 78 114%

Boston ft Albany... 167 167% 167%

7s reg

Boston and Lowell. 105 104% 104% 104 104

Boston ft Maine 145'^ 146% 145% 145%

Bostonft Providence 163

Bos'n.Hart.ft Erie78 64% 62 61% 61

Burl.ft Mo.R.L.G.78

Burl.t Mo.R.inNeb

6s, exempt

48 i 84

Chi..Burl. ft Quincy 135% 136% 135 , 135% 136%

Cin..Sand&Clev($50) 25% 25% 25%

Concord ($50)

Connecticut River

Eastern 34% 33 34

New 4% Bonds... 108% 108 108% 108%

136% 135%

■-»■—• iiJj-rfH^ifciiif j--j:i.'ji. L'r'J

N..Y ft New England 59 65% 55 56 55% 66
7s 117 116% 116% 116% 117

Northern N. H 107 107%

Norwich&Worcester

Ogden ft Lake Cham 30

Preferred

Old Colony 124 124% 124 124 125 127

Ph..Wil.ftBalt.($50)

Portl'd.Saco ft Ports 113%

Pueblo ft Ark Val

78 116% 115 ... .

Pullman Palace Car 138 139 139

Union Pacific 119 118% 118% 119% 119%

6s 114%

Land Grant 7s.... 111%

Sinking Fund 88

Vermont ft Canada

Vermont ft Mass

Worcester & Nashua 60 59

Cambridge (Horse) 120

Metropolitan(Horse) 76%

Middlesex (Horse)

Cal.ftHeclaMin'gCo 232 234 232% 232% 233 232

Quincy 41% 42 41% 41 41 41%

Philadelphia Stock Exchange.

Closing Prices for the Week Ending Fefi. 7.

W. 1. Th. 2. F.3. Sat.4. M.6. Tu

AUegh'y Val. 7 3-lOs 120}^ 1201^ 121

7b, Income 66% 56 56 56 55

Camd'n ft Am. 6s. '83

6s. 1889

Mort. 68,1889 114 114

Camden ft Atlantic. 36

Preferred

1st mortgage

2d mortgage

Catawissa 20 19% 19 18%

Preferred 56 .... ..... 65

78. new

Del. ft Bound Brook 130

Elmira&Williamsp't
Preferred

12%

13%
28

43% 43%

116%
62%

62% 62%

Hunt, ft B. Top Mt 14

Preferred 27 28% 28

2d mortgage

Lehigh Navigation. 42% 43% 43% 43

68.1884

Gold Loan 111% 111% 111%

Railroad Loan

Conv. Gold Loan

Consol. Mort, 78 116%

Lehigh Valley 62 62 62%

1st mort. 6s, coup

1st mort. 6s, reg »

2d mort. 78 134

Consol mort. 68.. 118% 120 120

Consol. mtg.6s.reg 119% 120%

Little Schuylkill 56

Minehill&Sch.Hav'n 61

North Pennsylvania 64 64 64 64

1st mortgage 6s 106 105%

2d mortgage 7s

Genl. mtg.78,coup

Genl. mtg. 7s, reg

49%

71%

61%

34%

72%

61%

34}^'

34 k

72%

61%

35
72%

61%

Northern Central.. 48%
58

Northern Pacific... 34%
Preferred 71%

Pennsylvania R. R. 60%

1st mortgage

vJen'l mort 121%

Gen'l mort reg

Consol. mort. 6s 117 Wl 117

Consol. mort. reg 117%

Pa.State 6s 2d series

do 3d series ,

do 58, new 116

do 38

Phila. ft Reading... 31% 31% 31% 31% 31% SIJ^

1st mortgage 6s

7s of 1893

78, new convert 74

Consol. mort. 7b

Consol. mort. reg . 126

Gen'l mort. 68 98% 99 99% 99% 100 100

Philadelphia ft Erie 16 16 16% 16 16%

Ist mortgage 68

2d mortgage 78 114

Pitt8b.,Cin.ftSt.L.78 120

Pitts..TitU8v.&Buflf. 18% 18% 18% 18% 18% 19%
7s 95%

Schuylkill Navi't'n

Preferred 12% 12% 12% 12% 13 13

6s, 1872

6s. 1882 89% 91

UnitedCo. ofN. J.. 186 185% 186% 185% 186%

Hestonville, (Horse)

Chestnut A Wal. (do) •

Oreen ft C«ates (do)

'"■-.»■•'■- ^■■riim'VjiiMr'-''-*"--^-~-Vtii(i<iiiiiafrtiMiirhiiiiiittiil-rM n.ih^-iii'iiriiil'^"'-'^'*'' '"•'-■ - -i^--.-^^ -?•■■-■:• •^--^•■.•-•« ■■■^-■^w^:

\W5ST!WJW^lJBT;?«V*^T''T?>'?HS3^r'?'T*TPv!?"r^ .

:^-.V.

r^-y-^ * — f^^

hW^?if^ '* * \V'^' Kif^ y}JX' ' '^* **W*

AMERICAN RAILROAD JOURNAL.

Iiondon Stock Exchange

Closing

Jan. 13.

Baltimore &; Ohio (sterling) 114 118

Cairo & Viencennes com. stock 36 38

Do. preferred 5 per cent 90 92

Central of N. J. $100 share 93 98

Do. Cons. Mortgage 115 117

Do. Adjustment Bonds 104 109

Do. Income Bonds 104 107

I Det.,G'd Haven & Mil. Equip bd8ll2 114

Do.Con.M.6p.c.,tiU'83aft'r6p.cllO 112

Illinois Central $100 shares 135 >^ 136 >i

Lehigh Valley Cons, mortgage.. 115 119

Louisville & Nashville mort 6s. 105 107

Do. Sink. Fund bds (S.&N.Ala)102 104

Do. capital stock $100 shares. 97 99

! N. Y. Cent. & Hud. R. mt. bds. .134 137

Do. $100 shares 136% 137%

Do mort. bonds (stg.) 123 125

N.Y.,LakeErie& West.,$100Bh8 42)i 42%

Do. 6 p. c. pref. $100 shares . . 87 89

Do. Ist Con. Mort. bds (Erie) .131 13f

Do. do. Funded Coupon bds. 127 129

Do. 2d Consol Mort. bonds. . .101 103

Do. do. Funded Coupon bds . . 97 100

Do. Gold Income bonds 93 95

ir.Y.,Pa.& Ohio 1st mort. bonds. 47 48

Do. Prior Lien bds (sterling) . .104 108

Pennsylvania, $50 shares 63 64

Do. Con. Sink Fund Mort 116 118

Philadelphia & Reading $50 shs 33 >* 33%

(General Consol Mortgage 116 118

Do. Improvement Mortgage . . 103 105

Do.Gen.Mtg.'74,ex-dcfdcoup. 99 101

Do. Scrip for the 6 def. ^ coup. 92 97

Pittsb. . Ft. W. & Chi. Eq. bds. . . . 105 109

St. L. Bridge 1st mort. gold b'd . 126 128

Do. 1st pref. stock 102 104

Union Pa. Land Grant Ist. mtg.115 119

Prices .

Jan. 6.
114 116

115

104

112

110

132

116

105

103

134

132

120

131

127

100

104

118

116

103

100

105

126

102

115

98
117
109
107
114
112
133
119
107
105
105
137
134
122

40%

86
133
129
102
100
100

46
108

63
122

33%
118
106
101

97
109
128
104
119

AMEBICAN" RAILROAD JOURNAIi.
Financial and Commercial Revie'w.

Thubsday Evening, Feb. 9, 1882.
The rate for call loans on stocks this morn-
■: ing was 4 to 6 per cent, and 2@,3 per cent on
United States bonds. Time loans were 5@6
per cent, which were also the quotation for
prime mercantile paper. In the afternoon the
quotation for call loans at the Stock Exchange

■ was 4J per cent.

The posted rate for demand Sterling was 4.-
90|, and the actual rate 4.89f@4.89f. The act-
ual rates for 60 day sterling were 4.84@4.84r|.
Cable transfers were 4.90f(^4.91}. Prime com-

■ mercial bills were 4.82f@4.83. For Conti-
■- nental bills, the actual rates were: francs, 5.-
] 13i@5.14f. and 5.18|@5.19f ; marks, 94f@|

and guilders 40}@40|.

The new Wilmington (Del.) loan of $60,000,
bearing 4J per cent interest, has been placed in
Philadelphia at rates rangmg from par to 10] J.

Three bids were received at New Orleans on
the 1st inst. to sell to the State of Louisiana
$600,000 worth of her four per cent bonds, the
lowest of which was $118.58. The bids were
all rejected. : / ■ :

The report of the receiver of the Lebanon
Springs Railroad Company, filed at Albany on
the 1st inst. shows receipts for the quarter end-
ing Dec. 31 (including a balance of $8,701) of
S80,660, and disbursements of $68,614. The
earnings during the same period were $23,661.
The assets amount to $320,876 and the liabili-
ties to $312,203, the latter including $293, 111 in
Receivers certificates.

The Pullman Palace Car Company have de-
cided to increase the capital stock of the com-
pany $2,523,600, which adds 25 per cent to the
present amount of stock. Stockholders of
record of Feb. 18 have the option to subscribe
between that date and March 1 for an amount
of the new stock not exceeding one-fourth of
their present holdings at par. The payments
for this new issue will be 50 per cent on or be-

fore March 1 and 50 per cent between that date
and May 8. Applications can be made at the
Farmers' Loan and Trust Co., New York, New
England Trust Co., Boston, and at the compa-
ny's office in Chicago.

The Chief Justice of the Supreme Court of
Missouri has refused the application for a writ
of error to the United States Supreme Court in
the Hannibal and St. Joseph mandamus case,
there being no Federal question involved in the

suit.

The United States Court, Philadelphia, is au-
thority for the statement that the Philadelphia
and Reading receivership would not last more
than about three months.

The House of Representatives on the 2d inst.
refused to release the Philadelphia and Reading
Railroad Company from the payment of a tax
of $483,700.

At the annual meeting of the Guarantee Com-
pany of North America, held at Montreal on
the 3d inst., a statement was presented showing
that of 5,737 risks offered during the year 5,075
were accepted and bonds issued, the new an-
nual premiums being $36,784.80. The total
revenue of the year was $80,173.78. The sur-
plus as regards shareholders was $19,368.45,
and the total resources for the security of policy-
holders was $722,060.82. A dividend of six
per cent, on the paid-up capital had been paid
for the year and over $5,000 added to the re-
serve. ■.■:.%-■> ■'•;.- .--'^v--.-

By the new contract between the Pacific
Mail Steamship Company and the Union Pacific
Railroad Company, the former is to receive
from the latter $95,000 per month, and six
months' notice must be given before either
party can withdraw. The old contract, abro-
gated some time ago by the railroad company,
allowed the Pacific Mail Co. $110,000 per month.

According to the annual report of Mr. Ains-
worth R. Spofford, Librarian of Congress, the
library now numbers 420,092 volumes, as
against 396,788 volumes one year ago. The
accessions during 1881 embraced 23,304 volumes
and 12,834 pamphlets. The business of the
copy-right department exhibits a slight in-
crease for 1881. The report concludes with an
appeal for additional accommodations.

The statement of the financial condition of
the East River Bridge Company to the 31st of
January, 1882, shows that there have been re-
ceived from New York, $4,537,900 ; from Brook-
lyn, $8,657,037, and from other sources, $344,-
010. The cash expenditures to that date were
$13,439,590.56. The cash on hand amounts to
$99,356.49, and the liabilities, $101,353.45.

The Governor of Wisconsin, in surrendering
the gubernatorial chair, announced that the
State was entirely out of debt, and had a bal-
ance of $117,000 in the treasury. Her neigh-
bor, Minnesota, however, has been struggling
to repudiate certain railroad bond obligations
and has finally settled them at 50 cents on the
dollar.

The new constitution of Missouri, said to be
the most perfect in the country, provides that
no railroad or other transportation company
shall grant free passes or tickets, or tickets at
a discount, to members of the General Assem-
bly or any other State officer, and the accept-
ance of the same shall be a forfeiture of office.

The statement of exports of petroleum and
petroleum products from the United States dur-
ing the month of December last, as furnished
by the Bureau of Statistics, shows a total
of 45,250,872 gallons, representing a value of
$4,140,430, showing an immense increase over
the exports for the corresponding month of
1880, which were 28,474,292 gallons, showing a
value of $3,041,638. For the year 1881 the
total exports of these products were valued at
$48,546,103 as against $34,505,645 for the pre-
vious year. Shipments from New York alone
during December last aggregated 32,338,638
gallons, valued at $3,010,548. |

The total production of wool in 1881 com-
pares with the four next preceding ^ears as
290, 264, 232^, 211, and 208^ million pounds,
and the domestic consumption in 1881 was
251 f million pounds, compared with 348^, 296,
246, and 258 1 million pounds in next preceding
years. The foreign imports in 1881 were
51,620,757 pounds, against 107,541,300 pounds
in 1880.

The Missouri State Fund Commissioners have
issued an order calling in two hundred and
fifty 5-20 State renewal bonds for pa>'ment on
the 1st of March. When these bonds are paid,
the amount reduced since January 1, 1871, will
be $752,000.

The closing quotations on Thursday were :
Adams Express, 147(^14$; American Express,
92093 ; Chicago, Burlington and Quincy, 135J
(^136; Canada Southern, 53|@,53|; Chicago and
Northwestern, 135(^135 J; do. pref., 143|(^144 ;
Chicago and Alton, 135}@,135.^ ; Central of New
Jersey, 96|(^96; Central Pacific, 9U(5^91|; Chi-
cago, Milwaukee and St. Paul, 109^(^109| ;
do. pref., 122(^122^ ; Columbus, Chicago and
Lidiana Central, 18J(^18| ; Delaware and Hud-
son Canal, 108|(^108§ ; Delaware, Lackawan-
na and Western, 127^@127| ; Hannibal and
St. Joseph, 96^(^97 ; do. pref., 108J(^109J ;
Illinois Central, 136^0 136.\ ; Lake Erie and
Western, 34@ — ; Lake Shore and Michigan
Southern, lllf(^lllf ; Metropolitan Eleviated,
89|@,90 ; Manhattan Elevated, 56(S56| ; do.
1st pref., 96(^97J ; Michigan Central, 86|(^
86 J; New York Elevated, 107(S^108t; New York,
Lak«Eri« and Western, 39J@39| ; do. pref.,
79@ — ; New York Central and Hudson River,
131|@131f ; Northern Pacific, 34^@35 ; do.
pref., 73f^73| ; Ohio and Mississippi, 34J(^
34|; Pacific Mail, 44|(^45; Texas and Pacific,
48f@48i ; Union Pacific, 119@1191 ; United
States Express, 75J(^76|; Western Union Tele-
graph, 81|(^81|; Wabash, St. Louis and Pacific,
36|®36|; do. pref., 671($67f ; Wells-Fargo Ex-
press, 126J(^— . r j

The following quotations of sales of Railway
and other securities, for the week, are in addi-
tion to those given elsewhere in our columns:

New York. — Atlantic and Pacific 1st, 95 ;
Am. Dock and Imp, 5s, 100 ; Atchison, Colora-
do and Pacific 1st, 98^ ; Boston and New York
Air Line pref., 68 J ; BellcA-ille and Southern
Illinois 1st, 121 J ; Columbus, Chicago and In-
diana Central Inc., 70J;do. 1st Trust Co. certif.
ass. sup., 118 ; Charlotte, Columbia and Au-
gusta, 74; Chicago, St. Louis and New Orleans,
81J ; Chesapeake and Ohio 1st pref., 37; do.
2d pref., 25| ; do. cur. int., 52 ; do. 1st, Series
A, 102 J; Chict^o, St. Paul, Minneapolis and

i-mti^ A-'i.t^'M.tm^Mi -*- ■-^— -

.>:i4*..^flefc^U«. ^a ^ f :'* ^^ ■. aUu^ .

:- * 1

*y^'f.r "^ • * ' *""v"T?" V > vv r\r

AMERICAN RAILROAD JOURNAL.

^'•-.'JA'T-. -r

Omaha, 35|; do. pref,, lOlf ; do. consol., 99|,
Central Iowa 35^ ; do. 1st, lllj; Columbia and
Greenville pref., 96 ; do. 2d, 96 ; Chicago, Mil-
waukee and St. Paul S. M. div., 1st, 103 J; do.
La C. and Dav. div. 1st, 94 ; do. S. W. div. 1st,
106| ; Cairo and Fulton 1st, 109 ; Chicago and
Alton Inc., 104 ; Chicago and Northwestern S.
F. 5s, 101 ; Cleveland, Columbus, Cincinnati and
Indianap. consol., 124J; Denver and Kio Grande
71 J; do. Ist, 113; do. 1st consol., 104 J ;Danbury
and Norwalk, 65 ; East Tennessee, Virginia
and Georgia, 14 J ; do. pref., 23 J; do. 5s, 78 ;
do. inc., 56|^ ; do. Ist, 115 ; Evansville and
Terre Haute Ist consol., 96 ; Green Bay, Win-
ona and St. Peter 1st, 91J ; Hudson River 2d
S. F., 110 ; Hannibal and Central Mo. 1st, 108;
Indiana, Blaomington and Western, 46|; Inter-
national and Gt. Northern 1st, 106 ; Indiana-
polis, Decatur and Springfield 1st, 103^ ; Kan-
sas Pacific 1st consol., 103t ; do. 6s, F. & A.,
1895, 110 ; do. 6s, Denver div. ass., 108 J ; Laf-
ayette, Bloomington andMuncie 1st, 102 J; Lou-
isville and Nashville Gen'l mort., 6s, 101 J ; do-
Evansville, Henderson and Nashville 1st, 100 ;
do. Cecilian Br. Ist, lllj ; Louisville, New
Albany and Chicago, 71; do. 1st, 101 J ; Long
Island, 51^; Lake Erie and Western, 34; do. 1st,
104J ; Metropolitan Elevated 2d, 91 ; Manhattan
Beach, 30J ; Marietta and Cincinnati Ist pref.,
12i; do. 2d pref., Sf ; Mobile and Ohio, 32| ;
do. New mort., 113 ; Missouri, Kansas and
Texas, 37 J ; do. gen'l mort. 6s, 83 ; do, consol.
7s, 103 J ; do. 2d, 69|; Missouri Pacific, 103| ;
do. 1st consol. 100 J ; do. 3d, 112 ; Memphis
and Charleston, 76 ; Milwaukee, Lake Shore
and Western, 47 ; do. inc., 75 ; do. 1st, 100 J;
Minneapolis and St. Louis Ist, 115^ ; do. 1st,
Iowa Ext. 111| ; Michigan Central 5s, 98 J ;
Nashville, Chattanooga and St. Loxiis, 83|; do.
1st, 115} ; New York, Ontario and Western, 26|;
Norfolk and Western pref., 57; do. Gen'l mort.,
103 ; Northern Pacific Ist, 96 ; New Orleans
Pacific Ist, 91 ; New York City and Northern
Gen'l mort., 80 ; Ohio Central, 24|; do. 1st, 98 ;
do, inc., 45 ; Oregon Railway and Nav., 134| ;
do. 1st, 106; Oregon Transp., 71 ; Ohio South-
em, 20 ; do. 1st, 91^ ; Ohio and Mississippi,
Springfield div. 1st, 121 J ; Peoria, Decatur and
EvansAdlle, 35} ; do, inc., 72 ; do. Evansville
div. Ist, 103J ; Rome, Watertown and Ogdens-
burg, 21 1 ; do. 1st consol. 90 ; Rochester and
Pittsburg, 28 J; do. inc., 39 J ; Richmond and
Allegany, 31 J ; do. 1st, 95; Richmond and Dan-
ville, 240 ; do. W. P., 240 ; do. 1st, 105 J ; St.
Louis and San Francisco 2d, Class B, 90^; do.
C, 89 ; St. Louis, Alton and Terre Haute divi-
dend bonds, 52 ; St. Paul and Duluth, 30| ;
do. pref., 70 ; St. Paul Minneapolis and Mani-
toba, 112 ; do. 1st, 109| ; do. 2d, 105| ; South
Carolina, 30 ; do. 1st, 99 ; do. inc , 45 ; South-
em Pacific of California 1st, 104; Scioto Val-
ley Ist, 100}; St. Louis, Kansas City and North-
em, R. E. 78, 108 ; St. Louis, Iron Mountain
and Southem 5s, 84| ; Toledo Delphos and
Burlington, 14 ; do. inc., 22 J ; Texas and Pa-
cific, 48} ; do. inc. L. G., 70 ; do. Rio Grande
div. Ist, 84|; Texas Central 1st, 107^; Wabash,
St. Louis and Pacific Gen'l mort. 6s, 88 ; do.
Chicago div. ls„ 86}; do. Toledo, Peoria and
Western 1st, 112 ; do. Iowa div. Ist, 93 ; War-
ren R. R. 2d mort., 121 ; Arkansas 78, L. R., P,
B. and N. O., 23 ; Alabama, Class A, 81| ;

Louisiana consol. 7s, 68 ; Missouri 68, 1887,
109J ; do. 1888, 109| ; do. H, & St, J. issue,
1886, 101} ; South Carolina 6s, non-fund., 8| ;
Tennessee 6s, old, 67f ; do. new, 69J ; Am.
Dist. Tel., 39 ; Sutro Tunnel, | ; Colorado Coal
and Iron, 40 J; do. 1st, 86 ; Maryland Coal, 19;
New Central Coal, 18 ; Deadwood Mining, 6| ;
Homestake, 19 ; Little Pittsburg, If; Ontario,
35 ; Robinson, 2J; Standard, 17J ; Starmount,

Philadelphia.— GoJitTal Transportation, 35} ;
Camden and Atlantic, 35 ; Huntingdon and
Broad Top Mt, consol. 58, 89 ; Harrisburg and
Lancaster 68, 102| ; New Orleans Pacific Ist,
91f ; Pennsylvania Company 106; Philadelphia
and Reading R, R, scrip, 82 ; do, Inc, 78, 97^;
Pittsburg 7s, W. L., 126 J ; do. Av. 78, 107} ;
Perkiomen R, R. 6s, 104 ; Philadelphia, Wil-
mington and Baltimore 4s, 95 J ; Pennsylvania
Canal 6s, 99 ; Philadelphia, Germantown and
Norristown, 106 ; Sunbury, Hazleton and
Wilkesbarre 2d, 30 ; Schuylkill Nav, 6s, 1895,
65; Susquehanna Canal 78, 59 J ; do. pref. 6s, 75;
Susq. Coal 6s, 109 ; Texas and Pacific 1st mort.
6s, 107 ; do. consol. mort. 6s, 99} ; Warren and
FranMin 7s, 111}. The latest quotations are :
City 68, — @118 ; do. free of tax, 126(^^130 ;
do, 4s, new, 102@109; Pennsylvania State 6s, 3d
series, 100@101 ; do. 5s, new loan, 115^(^116 ;
do. 4s, old, 107@111 ; Philadelphia and Read-
ing R. R., 31^@31f ; do. congol, mort, 78, reg,,
125@— ; do, mort. 68, 117@— ; do. gen'l
mort. 6s, coupon, 99i@100}; do. 78, 1893, 125@

— ; do. new, con v., 74@76; United New Jersey
R. R. and Canal, 185J@186| ; BufiEalo, Pitts-
burg and Western, 19@19J ; Pittsburg, Titus-
ville and Buffalo 7s, 96@,98 ; Camden and Am-
boy mort, 6s, 1889, 113^@114} ; Pennsylvania
R. R., 61^@61i; do. general mort. reg., 121}@
122J; do. consol, mort. 68, reg., 116J@117; Little
Schuylkill R. R. 56@56J ; Morris Canal, 65@

— ; do. pref., 166@169J ; Schuylkill Naviga-
tion, 5J@6 ; do. pref., 12^@13 ; do. 68, 1882,
92@94 ; do. 1872, 107@108 ; Elmira and Wil-
liamsport pref . , 58@65 ; do, 68, 113@ — ; do.
5s, 98@100; Lehigh Coal and Navigation, 43f@
43^ ; do. 6s, 1884, 106@— ; do. R. R. loan, 116
@118 ; do. Gold Lo.in, lll@llli ; do. consol.
78, 116^@117 ; Northern Pacific, 34}@34i ; do.
pref., 72f@72J ; North Pennsylvania, 63@64 ;
do, 6s, 105@106^ ; do, 7s, 121@— ; do. General
mort. 78, reg,, 119@123 ; Philadelphia and
Erie, 16@16} ; do. 78, 114@115 ; do. 58, 104@
106; Minehill, 61@62 ; Catawissa, 18J@19; do.
pref., 54^@55 ; do, new pref,, 53@54J ; do.
7s, 1900, 120@— ; Lehigh VaUey 62@62} ; do.
6s, coupon, 120@122 ; do, reg., 121@122 ; do.
2d mort. 78, 133@ — ; do. consol. mort. 120@,
120^; Fifth and Sixth streets (horse), 149@150;
Second and Third, 110@115 ; Thirteenth and
Fifteenth, 75@80 ; Spruce and Pine, 45@50 ;
Green and Coates, 80@85 ; Chestnut and Wal-
nut, 90@94 ; Germantown, 60@70; Union, 110
@115 ; West Philadelphia, 105@110 ; People's
14J@16} ; Continental, 100@102.

Boston. — Atlantic and Pacific 6s, 95; do. In-
come 6s, 30 ; Boston Land, 8} ; Boston Water
Power, 6}; Boston, Clinton, Fitchburg and New
Bedford, 47 ; do. pref., 129 ; Burlington and
Missouri River in Nebraska 68, non-exempt,
104; Chicago, Burlington and Quincy 48, 87 ;
do. 4s, Denver ext,, 84 J ; do, 58, 1919, 105 ;

do, 58, 1901, 102J ; Cincinnati, Sandusky and
Cleveland 78, 61 ; Cheshire R. R., 59 ; Connotton
Valley, 18 ; do. 7s, Straitsville div., 75 ; Central
of Iowa, 34 ; do. 2d, 49J ; Flint and Pere Mar-
quette, 23 ; do. pref., 92 J; Highland Street R.
R., 138 ; Iowa Falls and Sioux City, 82 J ; Kan-
sas City, Fort Scott and Gulf, 75 ; Kansas City
Lawrence and Southern 58, 105 ; Kansas City,
St. Joseph and Council Bluffs 7s, 113 ; Louis-
iana and Missouri River, 15 ; Little Rock and
Fort Smith, 65; do. 78, 110|; Maine Central, 39;
Marquette, Houghton and Ontonagon, 54} ; do.
pref,, 111 ; Mexican Central 78, 84 ; do. blpck,
old, 109 ; do, new, 93 ; Northern Pacific 68,
97 ; New York and New England 6s, 107; New
Mexico and Southem Pacific 7s, 114 ; Ogdens-
bui^ and Lake Champlain 6s, consol., 96 ; do.
inc., 48 ; Rutland, 4 J; do. pref., 26; Sonora, 24};
do. 1st 78, do. block. No. 4, 109; Summit Branch,
13 ; Toledo, Delphos and Burlington, 6| ; do.
inc. M. L., 22 ; do. 6s, S. E. div., 66} ; do. in-
come, 16 ; Wisconsin Central, 19|; do. pref.,
31; Atlantic Mining Co., 14; Allouez, 2f ; Bruns-
wick Antimony, 15 ; Blue Hill, 50c. ; Crescent,
37}c. ; Catalpa, 50c. ; Franklin, 12 ; Harshaw,
3| ; Huron, 2} ; National', 2f ; Osceola, 32 ; Pew-
abic, 14 ; Phoenix, 2} ; Ridge, 3 ; Sullivan, If;
Silver Islet, 20.

•^^

Nothing is more injurious to a man than the
dead level of prosperity. — Moody. \

No man ever became great or good except
through many and great miateikes.— Gladstone.

An agonized father applied to Superintendent
Walling to assist him in finding his boy. "Has
he any particular marks about his person by
which he can be identified?" asked the offi-
cial. "Yes," was the reply, "when he over-
feeds himself he has awful cramps in his
stomach."

I- .

The United States engineers who were de-
tailed to examine the route of the proposed ship
canal through the Jersey flats, connecting the
docks of the Central Railroad of New Jersey
with the deep water of the Kill-von-Kull inlet,
report that the cutting of a channel 21 feet deep
at mean low water and 300 feet wide at bottom
will cost $7,134,980.

The dimensions of the tnnnel under the St.
Lawrence are to be as follows : Entire length,
about 21,700 feet ; open cuttings on Hochelaga
side, 2,500 feet, and on the Longneuil side
5,220 feet ; tula length of tunnel proper, 14,-
980 feet. It is to be 26 feet wide inside and 23
high. It will be lined with brick masonry
throughout, except the fronts, which will have
fagades of stone. The arch will vary from 20
to 30 inches in thickness, according to the
character of the ground to be supported.

The first report of the Railroad Commission-
ers of Kentucky, just issued, claims tiiat much
good has already been accomplished by the
commission, and suggests further legislation.
It contains a letter from the New York Cham-
ber of Commerce, in which it is declared that
the success of the Georgia Railroad Commis-
sion has demonstrated the fact that, with ade-
quate powers, a commission can secure equality
and publicity in railroad management without
injury to the roads and with great benefit to
the public.

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AMERICAN RAILROAD JOURNAL.

statement of the Public Debt of the
United States, February 1, 1882,

DEBT BEABJMO INTEBEST.
; " : ~ ; Amount '■_,■

Outstanding,
6 per cent loan, 1861-'81,

continued at 3>^ per ct. $81,624,200 00
6 per cent loan 1«63-'81

continued at 3)^ per ct 47,855.700 00
6 per cent funded loan of

1881 401,503.900 00

4>2 per cent funded loan

of 1891 250,000,000 00

4 ner cent funded loan of

1907 738.788,750 00

4 i>er cent refunding cer-
tificates 559,100 00

3 per cent navy pension

fund 14,000.000 00

Accrued
Interest.

$238,070 58

139,579 12

3,513.145 47

1.875,000 00

2.462,629 00

1.863 67

35,000 00

1,104 91

85 74

1.250 00

22 00

3,275 00

213 06

20,000 00

8,000 00

10,000 00

2.945 00
600 66

370.700 00

8,439 82

58.650 00

170 95

76,750 00 18.895 79

472,400 00 110,073 76

407.800 00 15.650 92

1,097,550 00 204.112 15

298,950 00 23,759 12

100,000 00

5,430 00

70,653 12

6,202 50

129.150 00

914,850 00 35,077 50

Aggregate of debt bear-
ing interest $1,534,331,600 00 $8,265,287 84

Interest due and unpaid 1,953,060 31

DEBT ON WHICH INTEREST HAS CEASED SINCE MATUBITT.

Amount Interest due
Outstanding. & unpaid.

4 to 6 per cent, old debt, 1837. $57,665 00 $64,174 81

5 per cent. Mexican indem-
nity stock, 1846

6 per cent, bonds, 1847

6 per cent, bounty land scrip,

1847

5 per cent. Texas indemnity

bonds. 1850

5 per cent, bonds, of 1858. . . .

5 per cent, bonds, of 1860

6 per cent. 5-20 bonds, 1862,
called

6 per cent. 5-20 bonds, June,

1864, called

6 per cent. 5-20 bonds, 1865,

called

5 per cent. 10-40 bonds. 1864,
called

6 per "'int. Consol. bonds,

1865. caUed

6 per cent. Consol. bonds,

1867, called

per cent. Consol. bonds.

1868, caUed

6 per cent, loan, Feb. 8. 1861,

matured Dec. 31. 1880

per cent, funded loan 1881,

caUed 2,742,200 00

Oregon War Debt, Marcli 2,

1881, matured July 1, 1881.
6 per cent loan of July 17 and

Aug. 6, 1861. matured June

30, 1881

6 per cent loan of July 17 and

Aug., 5 1861. continued at

33^ per cent, matured Dec.

24, 1881, and Jan. 29, 1882,

caUed 6,316,150 00

6 per cent, loan of March 3,

1863,matured June 30, 1881.
1-10 to 6 per cent. Treasury

notes, prior to 1846

1-10 to 6 per cent. Treasury

notes, 1846

6 per ct. Treasury notes, 1847.

3 to 6 per cent. Treasury
notes, 1857

6 per ct. Treasury notes.lSei.

7 3-10 per cent. 3 years' Treas-
ury notes, 1861

5 per cent. 1 year note8,1863..

6 per cent. 2 year notes, 1863.

6 per ct. compound interest
notes, 1863-64

7 3-10 per cent. 3 years' Treas-
ury notes, 1864-65

6per cent, certificates of in-
debtedness, 1862-63

4 to 6 per cent, temporary
loan, 1864

3 per cent, certificates, called.

Aggregated of debt on which

Interest has ceased since ' '

maturity $13,920,005 26 $662,949 73

DEBT BEABINO NO INTEBEST.

Demand notes, 1861-62 $59 890 00

Legal tender notes. 1802-63..., 346, 681 '.016 00

Certificates of Deposit 11 ,400,000 00

Com certificates, 1863 5,188.120 00

Silver certificates, 1878 68,999.670 00

Unclaimed interest

Fractional currency, 1862, '<

1863 and 1864 $15,445,427 67
Less amount es-
timated as lost

or destroyed, ■ 'y^-r

act of June,
21.1879. 8,375.934 00

7 069,493 67

BECAPITULATION.

6,316,150 00

29,530 06

268,650 00

7,093 50

82,525 35

2,668 06

6,000 00
950 00

206 00
57 00

1.700 00
3.000 00

99 00
364 50

16,300 00
43,085 00
34,200 00

1,104 43
2.166 35
1.729 80

224,290 00

45.779 89

140,900 00

4.752 92

4,000 00

253 48

2,960 00
5.000 00

244 19
394 31

7,266 61

Aggregate of debt bearing no
*■*•""* $439,398,189 67 $7,354 61

Debt bearing interest in
coin, viz :

Bonds at 6 per cent., con-
tinued at 3>i per cent.

Bonds at 5 per cent, con-
tinued at 3>^ per cent.

Bonds at 4>^ per cent. . ..

Bonds at 4 per cent

Refunding certificates. . .

Navy pension fund, 3 p.c

Amount
Outstanding.

$129,479,900 00

401,503,900 00

250,000,000 00

738,788.700 00

579,100 00

14,000,000 00

Interest.

$1,534,331,600 00 $10,218,348 16
Debt on which interest has
ceased since maturity. 13,920.005 26 662,949 73

Debt bearing no int.. viz:
Old demand and legal-
tender notes $346,740,906 00

Certificates of deposit 1 1.400,000 00

Coin & silver certificates. 74,187,790 00

Fractional currency 7.069,493 67

Unclaimed interest.

$439,398,189 67

7,266 61

$1,987,649,794 93

Total debt, principal and interest to date,
including interest due and unpaid. . . $1

; ! AMOUNT IN TBEA6UBT.

Interest due and unpaid

Debt on which interest has ceased

Interest thereon

Gold and silver certificates

U. S. notes held for redemption of cer-
tificates of deposit

Cash balance available February 1, 1882.

$10,888,554 39
,998,538,349 32

$1,953,060 31

13,920,005 26

662,949 73

74,187,790 00

11.400,000 00
143,901,663 29

$246,025,468.59
Debt, less am't in Treas'y Feb. 1, 1882. . .$1,765,491,717 09
Debt, less am't in Treasury Feb. 1,1882.. 1,752,512.880 73

Decrease of debt during the month $12 978,836 36

Decrease of debt since June 30. 1881 $88,085,931 25

BONDS ISSUED TO THE PACIFIC RAILBOAD COMPANIES, IN-
TEBEST FAXABI.E IN LAWFUL MONET.

Accrued-
Interests
not paid.
$129,425 60
31,515 00
13&182 56

8,000 00
9,852 80

8,141 60

Central Pacific bonds,
Kansas Pacific bonds,
Union Pacific bonds.
Cent. Branch Union

bonds, 1862-64

West'n Pacific Bonds,
Sioux City & Pacific

1862-64

Amount
Outstanding.
1862-64$25,885,120 00
1862-64 6,303,000 00
27,236,512 00

1862-64
Pacific

1862.64
bonds.

1,600,000 00
1,970.560 00

1,628,320 00

Totals $64,623,512 00 $325,117 56

Interest paid by the United States, $53,405,977 38; in-
terest repaid by transportation of mails, &c., $14,804.-
021.94; interest repaid by cash payments : 5 per cent,
net earnings. $665,198.87; balance of interest paid by
United States, $37,946,756.57.

The foregoing is a correct statement of the publio

debt, as appears from the books and Treasurer's returns

in the Department at the close of business, January

31,1882. Charles J. FoLGEB,

Secretary of the Treasury.

Cincinnati Iron Market.

OmcE OF E. L. Harper «fc Co.

Cincinnati, Feb. 7, 1882.
The demand has been fair during the past
week. No change to note in prices.
We quote as follows :

FOUNDBT.

No. Mos.

Hanging Rock Charcoal 1 29 50@30 75 4

Strong Neutral Coke 1 27 00@28 00 4

American Scotch 1 26 50@27 60 4

OBEY FOBGE.

Neutral Coke 25 50@26 50 4

Cold Short 24 00@25 00 4

CAB WHEEL AND MAT.T.Tr.AH T.w

Hanging Rock Cold Blast 36 00@38 00

Warm Blast 30 00@32 00

Lake Superior 1 and 2 32 00@33 00

Lake Superior 3 to 6 34 00@36 00

Southern Car Wheel 36 00@40 00

The Scotch Iron Trade.

The statistics of the Scotch iron trade for 1881
have been issued. The production for the year
has been 1,176,000 tons, against 1,049,000 last
year, while the consumption in foundries and
malleable iron and steel works was 397, 000 tons

this year, against 384,000 last. The exports
have been 578,000 tons, against 671,000 ; while
the stocks in stores and in makers' hands were
940,000 tons, against 739,000 last year, being
an increase of 201,000. The number of furnaces
in blast at the beginning of this week was 105,
against 124 on the corresponding date, last year.
The average price of manufacturers' warrants
was 49s 1^, against 54s 6d last year. The highest
price this year was 53s 9d, and the lowest 45s;
whereas last year the highest was 73b 3d and
the lowest 448 9d. The quantity of malleable
iron and steel made in Scotland was 361,000
tons, against 292,000 in 1880, and the quantity
of Cleveland and Cumberland iron consumed in
Scotland was 420,000 tons, of which 240,000
were in foundries and 180,000 tons in malleable
iron and steel works. Last year the quantity
consumed was 355,000 tons.

The Coal Trade.

269,084
67,786

272,657

108,054
65,80C2

209,507

45,874
237,687
186,002

1881.
975.495

728.495

247.216
69,374

247.833

107,367
67,945

198,572

35.888
183,664
130.745

The leading coal carrjnng compares make

the following reports of their tonnage for the

week ending Jan^jiarj- 28, and for the year to

same date, compared with their respective

amounts carried to the same time last year:

Week. 1882.

Beading Railroad 96.557 1,215,725

Schuylkill Canal 27.656

Lehigh Valley 57.760 92l!o68

Delaware, Lackawanna and

Western 48,427

Shamokin 17,672

Central R. R. of New Jersey. . 68,525

United R. R. of New Jersey. . 18,522

Pennsylvania Coal 11,723

Delaware and Hudson Canal . . 28, 545
Huntingdon and Broad Top

Mountain 12.578

Penn. and New York 21.824

Clearfield. Pa 43.400

The total tonnage of anthracite coaTfrom all
the regions for the week ending January 28,
as reported by the several carrj-ing companies,
amounted to 318,327 tons, against 314,752 tons
in the corresponding week last year, an increase
of 3,575 tons. The total amount of anthra-
cite mined for the year is 1,653,283 tons, against
1,526,481 tons for the same period last j'ear, an
increase of 126,802 tons. The quantity of bi-
tuminous coal sent to market for the week
amounted to 90,362 tons, against 67,014 tons
in corresponding week last year, an increa.se
of 23,348 tons. The total amount of bitumin-
ous mined for the year is 306,310 tons, against
236,028 tons for the corresponding period last
year, an increase of 70,282 tons. The total
tonnage of all kinds of coal for the week is
408,689 tons, against 381,766 tons in corre-
sponding week last year, an increase of 26,923
tons, and the total tonnage for the coal year is
1,959,593 tons, against 1,762,509 tons to same
date last year, an increase oi 197,084 tons. The
quantity of coal and coke carried over the
Pennsylvania Railroad for the week ending Jan-
uary 28 was 193,754 tons, of which 136,384
tons were coal and 57,370 tons coke. The total
tonnage for the year thus far has been 810,571
tons, of which2573,050 tons were coal and 237,-
521 tons coke. These figures embrace all th«
coal and coke carried over th« road east and
west. The shipments of bituminous coal from
the mines of the Cumberland coal region dur-
ing the week ended January- 28 were 39,812
tons, and for the year to that date 160,689 tons
an increase of 51,402 tons as compared with the
corresponding period of 1881. The coal was

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AMERICAN RAILROAD JOURNAL.

--^^

carried to tidewater as follows : Baltimore and
Ohio Railroad— week, 32,905 tons ; year, 123,-
266 tons ; increase compared with 1881, 38,115
tons. There were no shipments by canal.
Pennsylvania Railroad — week, 6,754 tons ; year,
26,710 tons ; increase compared with 1881, 12,-
574 tons. The Reading Railroad shipment for
last week, ending February 4, was 157,000 tons,
of which 16,800 tons were sent to and 13,300
tons shipped from Port Richmond, and 22,000
tons sent to and 16,800 tons shipped from Eliz-
abethport. — Phil. Ledger, Feb. 6.

ORGANIZATION.

The officers of the Union Canal Company are:
President— Grant Weidman. Managers— Fred-
erick Fraley, Charles M. Bayard, George DeB.
Keim and Thomas C. Zulick. Secretary and
Treasurer — George S. Bowman.

The directors of the Pittsfield and North
Adams Railroad Company, elected on the 8th
Inst., are: C. W. Chapin, of Springfield ; Henry
Colt, of Pittsfield ; Edward Jackson, Frank H.
Appelton, and Ignatius Sargent, Jr., of Boston.

The following gentlemen were elected direc-
tors of the Providence and Worcester Railroad
Company on the 6th inst. : George A. Leete,
Wm. S. Slater, Paul Whiton, Gideon L. Spen-
cer, Elijah B. Stoddard, Lyman A. Cook, Moses
B. Goddard, Amos D. Lockwood, Frederick
Grinnell, Joseph E. Davis, John Dean, Oscar
J. Rathbun, David K. Phillips, Josiah Lasell.

At the annual meeting of stockholders of the
Huntingdon and Broad Top Mountain Railroad
Company on the 7th inst. , the following board
of directors was elected : B. Andrews Knight,
president ; Rathmell Wilson, John Devereux,
I. V. Williamson, James Long, James Whittaker,
Joseph H. Trotter, William P. Jenks, C. W.
Wharton, Samuel Field, Thomas R. Patton,
Jacob Naylor and Spencer M. Janney.

At the annual election for directors of the
Guarantee Company of North America, held
in Montreal, Canada, on the 3d inst., the fol-
lowing gentlemen were were chosen: Sir A. T.
Gralt, the Hon. James Ferrier, John Rankin, D.
Lorn McDougall, W. J. Buchanan, Edward Raw-
lings, John Paton, of New York, John L.
Blaikie, of Toronto, and James G. Ross, of
Quebec.

The directors of the Boston, Barre and Gard-
ner Railroad Company, elected on the 1st inst.,
are : Levi Heywood, of Gardner, Mass. ; Calvin
Foster, H. M. Witter and William W. Rice, of
of Worcester, Charles Heywood, of Gardner ;
Nelson D. White, of Winchendon, Stephen
Salisbury, Jr., A. George Bullock, Wm. H.
Morse, E. B. Stoddard and Samuel R. Hey-
wood, of Worcester. President George S. Bar-
ton declined a re-election. I }

The stockholders of the Columbus and Xenia
Railroad Company have elected the following
directors : J. R. Swan, John W. Andrews, B.
A. Harrison, Robert Neil, P, W. Huntington,
George M. Parsons, Alfred Thomas, Robert S.
Smith, Henry Hanna, C. P. Cassilly and Thos.
D. Messier. The directors organized by elect-
ing J. R. Swan president, and Robert S. Smith
secretary and treasurer.

At the recent annual meeting of the New
London, Conn., Northern Railroad Company,

held in New London, the following were elected
directors for the ensuing year : William W.
Billings, New London ; William H. Barnes,
New London ; Benjamin Stark, New London ;
Augustus Brandegree, New London ; Robert
Cott, New London ; J. N. Harris, New London ;
Thomas Ramsdell, Windham ; C. H. Osgood,
Norwich ; William Allen Butler, New York ;
William H. Hill, Boston ; James A. Rumrill,
Springfield, Maes. At a subsequent meeting
of the directors the following officers were
chosen : President and Treasurer, Robert Coit,
New London ; secretary, J. A. Southard, New
London.

Psalm of Marriage.

Tell me not in idle jingle,
" Marriage is an empty dream,"

For the girl is dead that's single.
And girls are not what they seem.

Life IB real. Life is earnest.

Single blessedness a fib.
"Man thou art, to man returnest,"

Has been spoken of the rib.

Not enjoyment and not sorrow

Is our destined end or way.
But to act that each to-morrow

Finds us nearer marriage-day.

Life is long, and youth is fleeting,
And our hearts though light and gay,

Still like pleasant drums are beating
Wedding marches all the way.

In the world's broad field of battle.

In the bivouac of life.
Be not like dumb driven cattle.

Be a heroine — a wife.

Trust no future, howe'er pleasant,
Let the dead past bury its dead.

Act — act to the living present.
Heart within and hope ahead.

Lives of married folks reminds us
We can live our lives as well,

And departing, leave behind us.
Such examples as shall " tell,"

Such examples that another.

Wasting time in idle sport,
A forlorn, unmarried brother.

Seeing, shall take heart and court.

Let us then be up and doing.
With a heart on triumph set.

Still contriving, still pursuing.
And each one a husband get.

Without Capital,. — It is bad beginning busi-
ness without capital. It is hard marketing with
empty pockets. We want a nest-egg, for hens
will lay where there are eggs already. It is
true you must bake with the flour you have ;
but if the sack is empty, it might be quite as
well not to set up for a baker. Making bricks
without straw is easy enough, compared with
making money when you have none to start
with. You, young gentlemen, stay as a jour-
neyman a little long6r, till you have saved a
few pounds ; fly when your wings have got
feathers ; but if you try it too soon, you will
be like the young rook that broke its neck
through trying to fly before it was fledged.
Every minnow wants to be a whale, but it is
prudent to be a little fish while you have but
little water ; when your pond becomes the sea,
then swell as much as you like. Trading with-
out capital is like building a house without
bricks, making a fire without sticks, burning
candles without wicks; it leads men into tricks,

and lands them in a fix. — John Ploughman

{Spurgeon). . ^' . 1"

^ —

The Philadelphia Press advises railroads to
look for trainmen in the South, because there
is no color blindness there.

Among all animals man is the only one who
tries to pass for more than he is, and so in-
volves himself in the condemnation of seeming
less.

A COCKNEY inquired at the post office the
other day for a letter for "'Enery Hogden."
He was told there was none. "Look 'ere," he
replied angrily, "you've examined a hodd let-
ter for my name ; it don't commence with a
haitch ; it begins with a ho. Look in the ole
that's got the ho' s. "I

A stbeet-cab conductor carelessly carried his
bell-punch home, and allowed his children to
play with it. The next day, when the company
informed him that he was nine million, nine
hundred and ninety-nine fares short, his hair
rose so rapidly that his hat, in banging against
the ceiling, broke out fifteen yards of plaster.

The nail mills comprise the chief industry
of Wheeling, W. Va. Seven of these mills have
an aggregate capital stock of $3,260,000, and
these seven mills earned and paid dividends
during the past year aggregating $712,000, or
about 23 per cent. At the same time the stock
in these mills has largely appreciated in value.

Gentleman meets a friend and takes him
home to dinner. Arriving at the house he
leaves him in the sitting room to announce the
fact to his wife. The friend, hearing directly
a clamor of tongues in the adjoining room, dec-
orates the keyhole with his ear. Shrill Voice —
'* Always the way, bringing people home with-
out a minute's warning ! Him, too ! Why
couldn't you leave him to batten on his usual
free-lunch route?" Hoarse Voice — "Ssh!"
Shrill Voice — "I won't ssh !" Hoarse Voice —
"I tell you you will. Oh, if he wasn't in the

room outside, wouldn't I just give you "

The friend, shouting through the keyhole — " I
ain't here any longer ; give it to her." (Exit,
slamming the door. )

Woke Up The Wrong Man.

The commercial traveler of a Philadelphia
house, while in Tennessee, approached a
stranger as the train was about to start and
said :

"Are you going on this train ?"
"lam." j

" Have you any baggage ?" j

"No." ^ ■ ■•

"Well, my friend, you can do me a favor,
and it won't cost you anything. You see, I've
two rousing big trunks, and they always make
me pay extra for one of them. You can get
one checked on your ticket, and we'll euchre
them. See ?"

" Yes, I see ; but I haven't any ticket."
"But I thought you said you were going on
this train?" i

"So I am ; I'm the conductor." [

"Oh!"
He paid extra, as usual.

.^-:i.-.

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AMERICAN RAILROAD JOURNAL.

T HB LAKE SHORE AND MICHIGAN SOUTH-
ERN RAILWAY COMPANY,

Trbasureb'i Ofpicb, Grand Central Depot,
New York, December 33d, 1881.

. The Board of Directors of this company hav*» this
Iday declared a QUARTERLY DIVIDEND of TWO
Iper cent upon its capital stock, payable on WEDNES-
IDAY, the first day ef February next at this office.
I The transfer books will be closed at 3 o'clock P.
|M. on Saturday, the 3lst instant, and will be re-
lopened on the morning of Saturday, the fourth day of
■February next.

E. D. WORCESTER, Treasurer.

THE PKBPECTED

B E M I N G TON

^HE THIRTY-NINTH SEMI-ANNUAL CASH DIVI-
,^ dend of the ILLINOIS CENTRAL RAILROAD
IcOMPANY, being three and a half (3>i) per cent on Its
Icapital stock, will be paid by the undersigned March 1.
11882, to shareholders as registered at the close of busi-
Iness on the 11th of February, after which and until the
Uth day of March the transfer-books will be closed.

L, V. F. RANDOLPH, Treasurer.

FOR SALE.

[Six new 3ft. Gauge Locomotives, 18 to 24 tons, June,

I July and August delivery.

[Ten new 4ft. 8>^in. or 5ft. Gauge Locomotives, June,

I July, and August delivery.

[Two new Ladder Tank Locomotives, 3ft. Gauge, 10 tons,

I May and June delivery.

Isecond-hand Standard Gauge Locomotives and Pas-
senger Cars, immediate delivery,

JNew Box, Flat, and Gondola Cars, 4ft. 8>^in. and 3ft.
Gauge, for immediate delivery.

iNew Passenger and Combination Cars, 3ft. Gauge, de-

I livery 30 days.

[New Passenger and Combination Cars 4ft. Si^in. Gauge,
delivery 60 days.

■ New Car Wheels, Iron and Steel Rails.
Narrow-Qauge Rolling stock a specialty.

BARROWS & CO.,

e4 BrocLci-weiy,

NEW YOBK.

TYPE-WRITER.

A. "WBITINQ - MACHOTE wh.icli combh
ea^e -with rapidity and accuracy,
and economy with elegance .
and convenience.

Adapted to general use. Every maclii^«
guaranteed.

Send for Circulars with names and testimonials
recent patrons.

E. BEMBTON & SONS,

281 and 283 Broadway, New York.
38 Madison Street, Chicago.
124 South Tth Street, Philadelphia.
9 1 South Howard St., Baltimore.

[Mention this paper.]

D. N. BEARDSLEY & CO.,

MANUFACTURERS OF

Superior Oak and Ctiestnnt Lmnlier,

AND RAILROAD TIES.

OaJs Osir TiixiToer a, Specialt^r-

OPFICE : 9 MUBRAY ST.,

NEW YORK.

HOME

--"-.■■■-"■ ,.' 1 r .-,■-■■ ■■ ■ ■

INSURANCE COMPANY OF NEW YORK,

OFFICE: NO. i 19 BROADWAY.

FIFTY-SEVENTH SEMI-AIOTUAL STATEMENT,
'Sliowing OoxKditioxi of tlie Oorxipebny on tlie 1st ciety of

,; CASH CAPITAL $3,000,000 00

:S Reserve for Unpaid Premiums 1,943,733 00

; Reserve for Unpaid Losses 245,595 36

^ Net Surplus 1,806,180 90

I CASH ASSETS $6,995,509 26

Summary of Assets

Held in the United States available for the PAYMENT

of LOSSES by FIBE, and for the protection of Policy

Holders of FIRE INSURANCE.

Cash in Banks $ 130,172 31

Bonds and Mortgages, being first lien on

Real Estate [worth $3,600,750] 1,565,868 00

United States Stocks [market value] 4.079,500 00

Bank and Railroad Stocks and Bonds [mar-
ket value 664,625 00

State and Municipal Bonds [market value] . 121.750 00
Loans on Stocks, payable on demand [mar-
ket value of Collaterals. $341.507.50 229,750 00

Interest due on 1st January, 1882 85,819 19

Premiums uncollected and in hands of

Agents 80.635 08

RealEstate 47,399 68

Total ..$6,995,509 26

J. H. WASHBURN, Secretary.
T. B. GREENE,
W. H. BIGELOW,

!■ Ass't See's.

CHAS. J. MARTIN, President.

A. F. WILMARTH, Hce-Pres'f.

D. A .HEALD, 2d Vice-PresX

Interest allowed on Deposits subject
to Draft. Securities, &c., bought and
sold on Commission.

,. Investment Securities always on hand.

ALOWZO FOLLETT,

Negotiator of prime Commer-
cial paper at Low Rates. Does
not solicit and will not take
hold of any but concerns whose
paper is A L

Paine, Webber & Co.,

Bankers and Brokers,

No. 53 Devonshire St., Boston.

, lMember$ of the Botton Stock Exchange.)

DeTote special attention to the purchase and sal* of
Stocks and Bonds in the Boston market, the careful se-
lection of securities for inrestment, and the negotiation
of commercial paper.

Wk. a. Paine. Wau^ace G. Webbeb. C. H. Pahcb.

John H. Davis & Co.,

■ BANKERS AND BROKERS,

No. IT Wall St., New York.

Interest allowed on temporary and standing deposits,
stocks and Bonds bought and sold on Commission only,
either on Margin or for Inrestment. >

Brown, Brothers & Co.,

No. 59 Wau Stieet, New Toil,

^AJl^TOr'S

— BUT AND SELL —
— ON —

&BEAT BRITAIN, IRELAND, FRANCE, GERMANY,
BELGIUM. AND HOLLAND.

Issue Cdmmercial and Travelers' Credits in Sterling,

AVAILABLE IN AlHT PART OF THE WORLD, AND IN
FRANCS IN MARTINIQUE AND GUADALOUPE.

Make Teleobafhic Tbansfebs of Monet between this
and other countries, through London and Paris. ..

Make Collections of Drafts drawn abroad on all points
tn the United States and Canada, and of drafts drawn In
the United States on Foreign C<»uitriei.

BABCOCK

EITIMnirHER.

ASeiitiDclthatNe?er Sleeps

SIMPLE !

EFFECTIVE!

DURABLE!
8. P. HAYWARD,

GENERAL AGENT.
407 Broadway, N. Y.

;;fw^7 • I- , •i>'wn|k!>j||Fii'VW'::'<«7.'<''

t!^^

'-Trj"^,"rv-r'^T." ■•«;,««:;; •;<',;jj:>-^i • ' ~. -^^j-:.!-, ii'^.r:

AMERICAN RAILROAD JOURNAL

. OFFICE OI^ i

AMERICAN

REFRI&ERATOR

, ^ LINE, i

New York, Oct., 1881.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported
Liquors, Patent Medicines, Es-
sential Oils, Mineral Waters,
Lager Beer, Ales and Porters,
Oysters, or, in f^ct, any class ot
goods that needs protection

from heat or cold while in tran-

I ■ ■

sit to the West and Southwest,
either in Summer or Winter,
will do well to ship the same by
the new and elegant cars of the

Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and at reasonabl*
j Prices by the .

HARLAN A. H4>L.L.IIVG§ WORTH CO., Wilmington, Del.

FARDEE CAR WORKS.

WATSONTOWN, PA.

PROPRIETORS.

SuCa.xiuflELOt'urers of

Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, Coal, Mine, and Hand Cars ;

Kelley's Patent Turn-Tables, and Centers for Wooden Turn-Tables;

Car Castings, Railroad Forgings, RoUing-Mill Castings,
\ \ Bridge Bolts and Castings.

jyW* haT«, in ceanection with our Car Works, an extensire Foundry and MaehiB*-shop, aad ar* pr«parfl«[
M do a general Machine Business.

Chairman, Treasurer and General Manager, Secretary,

AJUO PAKDEE. H. F. SNYDER. N. IjEISEB.
NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY.

C. W. LEAVITT. Agent. I

BEPBIGEMTOB TRANSIT COMl

Guaranteed Bills of Ladins:
giren. I ! t

Time as quick and rates as
loiv as by any first class fast
freight line l i i

JCy Sl^^P from New York via
N. T. C. and H. K. .K B., St.
John^s Park ; from Boston Tia
Boston and Albany It. K.

For rates and information apply to

FRED'K I. EVANS,

General Eastern Agent.

92 Wall Street, - New York.

271 Broadway, New York, ;,

232 Waihinsrton Street, Boston.

m mi uu E RIE, m w estem baiiwai.

I TO THE] TR.-A.VEJXjIN'O FXJBIjIO. 1

During the Centennial season— six months closing September 10, 1876— the Erie Railway cairisd almost
riBU MILLION passengers, without a singe accident to life or limb, or the loss of a piece of baggag •.

4 T>^*^ '*"^ * whole year the official records of the United States Post Office Department show the sr rirals of
^ -le Railway trains in New York, on time, to be from 15 to 27 per cent ahead of competi^g line*.

Facts well worthy the consideration of traTeleri. '

X. S. BO WEN, GtntreU SuperinimdetU.

JNO. N. ABBOa*r, Cftn. hK»»tn§mr Ag€»L

Bailioad

Track Scales.

RIEHLB BROS.

STANDARD

AND

TESTING

MACHINES

PHILADBLPHIA,
50 Sontb 4th St.

NBW YORK,
115 Liberty Street.

PITTSBUaGH,
liibsrtj St. cor. 7tb At.

609^North 3d Street

NBIV ORIiBANS,
14*^ ^OraTler Street

I ; J THE ROGERS

LOCOMOTIVE MD MACHINE WORKS,

Feuterson, IN". J.

HaTing extensive facilities, we are now prepared U
tumisb promptly, of the best and most approred de
scriptiou, either

COALi OR IVOOD BURNING

;LiOOOI^OTI'VHi EN-CHITEIS,

AND OTHIB VAMETIIS OF

RAILROAD IVIA€HIN£RY.

J. 8. ROGBRS, PreiH.
R. 8. HVOHBS, See
WBI. 8. HUDSON

YWt. \

lec% I

Pat«r«oiB, N. J.

44 Bzehuag* Piaeei Hew York.

>-vj*j:-*i.Ji^

i^.'V.:: ■Jtf.ri rl -i. I 'I I'll tffi ■ii'rW'i ffili

7 £Z E3

GORDON & DUGGAN

RAILWAY SWITCH.

The Standard on several and in use on
twenty-five Railroads. ]

Combines Safety, Durability, Simplicity,
and Iiow Cost, with Fixed Rails.

The only movable piece weighs 375 lbs.
and is without a bolt or rivet. j

E. GORDON, Treasurer,

No. 28 State Stbket, Boston, Mass.

::l:-

ir^lff- 1 8i lifniifiltiiliiwr "i hi

'■■' •-'"

rSff'

^m'mmft^trir-

AMERICAN RAILROAD JOURNAL.

VALENTINE'S VARNISHES

AXE ON SALE IN THE FOLLOWINe CODNTRIES :

ENGLAND.

FRANCE.

GERMANY.

AUSTRIA.
^PAIN,

SWITZERLAND.

ITALY.

HOLLAND.

^iCOTLAND.

RUSSIA.

INDIA.

AUSTRALIA.

SOUTH AMERICA.

NEW Zl!.ALAND.

MEXICO.

CUBA

VALENTINE & COMPANY,

COACH AND CAR VARNISHES,

BAMES VACVniA BRAKE CO.

■>. O. B«x !I,!!T8.

RAILWAY TRAIN BRAK ES,

SAI.es office. 15 OOLD ST., W. Y. Repr«'seiited by THOS. PROSSEK A SOW.

The EAMES VACUUM BRAES is confidently offered as the most efficient, simple, durable and cheapest Power Brake in the
market. It ean be seen in operation uponlover seventy roads.

'I'tfit • fttj-f ^•■•"n*iiihn(''A^*'^i'i jj fttf'iViii n"' ti ^^

•iK .»?- <_i;:.:-..l -»■■;• i*^^.: . i 4fr\,^^^ '-A*.'..*.d"-.\J. :ki

.^^^ .m-iiijujfc. »ii)HP,v'!W»l'

AMERICAN RAILROAD JOURNAL.

WATER TUBE STEAM BOILERS.

THE BABCOCK & WILCOX CO.,

SO Cortlaxicit St, N'o-w "Yorls..
116 James Street, Glasgow.

JOHN STEPHENSOlTcoi.

[Limited.]

■irrrTfji-Trxti

»"«j*Wiliiiili.

NEW YORK. 1 V

■ . ■ ' ♦ ■

Superior Elegance, Lightness and Du-
rability. The result of 50 years' experi

ence.

Adapted to all countries and climates.
Combining all valuable improvements
Shipped to Poreign Parts with greatest
care, and at most favorable rates. I

flOUSATONIG RAILROAD

_ ^

THE ONLY LINE RUNNING "[

T H: I^ O TJ C3- EC C-A-IlrS

Between New York, Great Barrington, Stockbridge, Len-
ox, and Pittafleld — the fer-famed resort of the i-

Berkshire Hills

of Western Massaohusetta — the "Switzerland of America.-
Two through trains daily between New York City an.
' all points on the Housatonic Railroad, from the Granc
Central Depot via the New York. New Haven, and Hart
ford Railroad at 8:05 A. M. and 3:43 P. M.

Descriptive Guide Book sent free upon application to
the General Ticket Agent.

H. D. AVERILIj, Gen'l Ticktt Agent.
L. B. STIIiLSON, SuperinUndent.
^Oeneral Offices, Bridgeport, Ct. January 2, 1882.

^GlNEERS.Mechanics.MillOwners.Builders.Mana-
lfactarers,Minws,Merchant8,Ac.,willfindinMooBE's

UNrVEBSAI. A SSI8TANT AMD COMPLETE MECRAMIC, a WOrk

oootaininn 1016pa^9, 600 Engravings, 461 Tables, and over
l.OOO.OOOlndastriarPacts, Calculations, Processes, Secrets,
Rules, Ac., of rare utility in 2 JO Trades. A $5 book free by
mail for f X50t worth its weight in gold to any Mechanic,
FarmerorBusinessMan. Agenti Wanted. Sure sale every-
where for all time. For 111. Contents Pamphlet, terms,
and Catalorne of 50O Practical Books, addrsMNaTiONAZ.
Bmk Co.. 7t Beekaaa St.. Kew Yerk.

NO OTHER LINE IS SUPERIOR TO THE

FITCHBURG RAILROAD

HOOSAC TUNNEL ROUTE

"WEST.

6.30 £:

ACCOMMODATION.

Connecting at Syracuse, N. Y., at 7.15 P.M., with through sleeping cars for Cincinnati,
C\evQ\B.nA, TolQ^o, DETROIT AND CHICAGO, ^

CINCINNATI

EXPRESS.

Pullman Sleeping Car attached, running through to Cincinnati without change. (Only Line
running Pullman Cars from Boston.) This car runs v^ia Erie Railway and N.Y., P. & O. R.R.,
malting direct connection for Louisville, St. Louis, Kansas City, New Orleans, and all
points In Texas and New Mexico.

P. ST. LOUIS

M. EXPRESS.

THE ONLY LINE which runs a THROUGH SLEEPING-CAR from

BOSTON TO ST. LOUIS WITHOUT CHANGE!

ABRIVING AT 8.00 A.M. SECONl^ MORNING.

Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville
Tolono, Decatur and St. Louis, making direct connection with tlirough Express Trains fo:
Kansas, Colorado, Texas, and all points in the

SOUTHWEST.

p. PACIFIC

EXPRESS.

^m..eile'\- -• ..Jft _J .

■,'Uilii

. -W.:%-. .•:»^

.; „'.•!.,

,v;'.i<>j-i^- -■. ; ,,

The only line running a through sleeping car via Buffalo and Detroit without change,
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex
press Trains for Iowa, Nebraska, Kansas, Colorado, tiie Pacific Coast, Wisconsin, Minnesota
^nd all points in the f .

WEST AND NORTHWEST.

TME ABOVE TRAINS RUN DALLY, SUNDAYS EXCEPTED.

jlUs Great Short Linepasses through the most celebrated scenery in the country, including the famou'
HOOSAC TTJUnHEL, tour and three-quarters miles long, being the longest Tunnel
., in America, and the third longest in the world. i

Tlckett, DrawIniir*Kooin and Sleeplns-CJar Accommodations may 1»e secured In AdTanc«

by Applying to or Addressing

250 WASHINGTON STREET, BOSTON. 250

JOHN ADAMS, General Superintendent. F. 0. HEALD, Acting Gen'l Passenger and Ticket Agent.

In effiect January 9tb, 1889t and aalUect to changes.

H'^aiUiJClii.JtLi^^

>.L^iiSjhA't^f.^^i-\'C^ •C^nj^krx^A.'^Jzmi

AMERICAN RAILROAD JOURNAL.

E. W. Vandkhbilt.

£. M. HOFKINB.

VANDERBILT & HOPKINS.

Railroad Ties,

Cai aid Railroad Luhki, White and Yellow Pine and Oal

120 Liberty Street, IV. Y. ,

Also North Carolina Pine Boards, Plank, and Dimen
sions Lumber to order. General Bailroad Supplies.

SHUGG BROTHERS,

DESIGNERS AND ENQRAVEES

. ' - •'. AND ■ -■ -;■-.:

PHOTO ENGRAVERS,

No. 18 Cortlandt Street, '

NEW TORE.

KNOX Al SHAIN9

Manuftictnrers of Engineering and Telegraphic Instru-
ments. No. 716 Chestnut Street, Philadelphia. Two
MsdAls awarded by the Franklin Institute, and one by
the Centennial.

PATENTS

We continue to act as Solicitors for Patents, Caveats,
Trade Marks, Copyrights, etc, for the United States,
Canada, Cuba, England, France, Germany, etc. We
have had tnlrty-flve years' experience.

Patents obtained through us are noticed In the Sci-
entific AMERICAN. This large and splendid Illus-
trated weekly paper, $3 .20 ayear,shows the Progress
of Science, is very interesting, and has an enormous
circulation. Address MUNN & CO., Patent Solici-
tors, Pub's, of Scientific American, 87 Park Bow.
llIewYork. Hand book about Patents free. *

COMBINATION SAW.

Without Lathe.

Price $6 without Lathe ; with Lathe, $8.

ASDBESS THE MaNUFACTUBIM,

C. M. CRANDAIili &. CO.,

MOSTTBOSi:. Susquehanna Co.. FA.

FAHtBANSS' *"""*^ALBs.

ADAPTED TO ALL CLASSES
OP BUSINESS.

Railroad and Warehouse Tmcis,

AND COPYING. PRSSSKS

Oldest and Largest |
Scale Works in the World.

BUY ONLY TH£ GENUINE.

Dormant Warehouse Scales.

3P.A Tn-FK A TTSZS <Ss OO^
311 Broadway, New ¥ork.

FIDELITY AND CASUALTY COMPANY,

l.S'7' Brosid."wa3r, 2:Te-^^r "^oxisz.
CASH CAPITAL, - - - - $250,000.

FIDBLiITY BON"DS.

BondB isHued guaranteeing the fidelity of persons holding poeitions of pecuniary trust and rasponsibiUty.
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the fkithful per-
formance of the duties of employes in all positions of trust. j

A.OOIIDE31TT POXjIOIESS. '

Policies issued against accidents causing death, or totally disabling injury. Insuring from Fivx Huin>aao
DoLLABs to Ten THOtrsAND in case of death, and from Three Doliabs to Fifty weekly indemnity in cMe at die
abling injuries.

WM. M. RICHARDS. Pret't. JOHN M. CRANE, Sm:'y.

IDIR,ECTOR,S :

George T. Hope.
G. G. WrLiiiAMS.
J. S. T. Stranahan.

H. B. CLAriiiN.
A. S. Babnes.

H. A. HUELBXTT.

W. G. Low.
Charles Dennis.
S. B. Chittbnden.

George S. Cos.

Wm. M. RiOHjUtDS.

A. B. Hull.

STEEL
DASTINGS

SWIFT'S IRON

26 W. THIRD

FROM 1-4 TO 10,000 lbs. WEIGHTJ

Tra* to pattern, sound and eolid, of unequaled strength, toughness and

durability.
An invaluable substitute for forging or oast-irons requiring three-fold

Strength.
CROSS-HEADS. ROCKER-ARMS, PISTON-HEADS, BTC, foi

Loco motive a
15,000 Crank Shafts and 10.000 Gear Whe<>1s of this ttoel now mnmin«

prove its superiority over other Steel C'astinirs.
CRANK-SHAFTS, CROSS-HEADS and GEARING, epeciftltiee^
Circulars and Price Lists free. Address ]

CHESTER STEEL CASTING CO.

407 Ubnu7 St^ PBIJLADi:i.PSI.&.
Works, Cn£STCR, Pa. ^ i

aTd^STEEL WORKS,

ST., CINCINNATI, OHIO.

ManuUrers of all Weights of Standanl and Narrow Gauge Rails by the most approved process. Also Rail Fittnmfi,

Steel and Bloom Boiler Plate, and Tank, Sheet, and Bv Iran.

BETHLEHEM IRON CO.
IRON AND STEEIi R AIIiS.

GEO. A. EVANS.

No. 74 Wall Street, - - - New York.

Sandusky Rail Mill €o.
New Albany Rail Mill Co.

STEEL KAILS,

IRON RAILS,

BLOOMS.

C. H. ODELL. AGT.

10* Joha St., S. V.

FOR SALE IN LOTS TO SVIT.

Prompt Delivery.

CONTRACTS TAKEN FOE ROLLING STEEL BLOOMS.
AND FOE EE-ROLLING OLD RAUii

aiD MILS MD SCUP UO Ul WHEaS BOUGHT UN) SOU),

vn ~r7 ..'j^?- y? y'^^fyrf' mBi V" y-"-'-

AMERICAN RAILIIOAD JOURNAL.

HEAT,

This material is indistructible and therefore valuable for all purposes of

SOUND
FROST-PROOFINO.

Over 3,600,000 lbs. now in actual use ; 614,000 lbs. of which have been applied in cars as shown in diagram.

Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution.

Sample and circular free by mail.

UNITED STATES MINERAL WOOL COMPANY,

^To. le Oortletridt Street,

NB^W YORK.

NATIONAL TUBE "WORKS CO.

MANUFACTURE WROUGHTflRON PIPES AND TUBES:^

WORKS:

McKeesport, Penh.
Boston, Mass.

NATIONAL SPECIAL SEMI-STEEL

OFFICES:

TURPS '^^"^ 1 06 John St., N.Y

8 Pemberton Sq., Boston.
1 59:Lake St., Chicago

C«l

KSTABLiIi^HfiD IS 1836

LOBDELL CAR WHEEL COMPANY,

IVilmington, Delaware.

6E0BGE G. LOBDELL, President. ,,

WILLIAM W. LOBDELL, Secretary. '

P. N. BRENNAN. TVetMttrw.

J. C. BEACH, Treas.

C. H. ANTES, See'y.

ALLEN PAPER ^S WHEEL COMPl.

GenM Office, 340 Broadway, N. Y.

WOBKS AT PuiiLMAN, IlX., AND HUDSON, NKW YoBX.

EAGLE
TVBE CO.

614 TO 626 WEST 24TH ST.,

I ! New York.

GEO. R. WOOD,

IRON AND RAILWAY BHSINESS.

steel and Iron Rails,

Boiler

Tubes,

AN INDESTRUCTIBLE WHEEL FOR PASSEN-
GER CARS AND ENGINES, i

A. Whitney & Sons,

. CAR WHEEL WORKS, i j

Callowtaill and 16tli Streets, {

PHILADELPHIA, PA. I*

Of all regrular sizes, of the
best material, and
I warranted.

We farnish CHILLED WHEELS for Cars, Trucks, and
Tenders. CHILLED DRIVING-WHEELS and TIRES foi
LocomotiTes. ROLLED and HAMMERED AXLES.
WHEELS AND AXLES FITTED COMPLETE.

liOcomotiTe Water-Grates a
specialty, and 2(» per cent

below regular prices.

Prices lower ttian other Mann&ctiirers.

No. 19 WilUam fit., NEW YOBK.

RAILROAD IRON.

The undersigned, agents for the manufacturers, art
prepared to contract to deliver best quality American
•r Welsh Steel or Iron Rails, and of any required
weight and pattern. Also Speigel and Ferro Manganese.

PERKINS A CHOATE,

33 Nusan St net, VmW YORK.

Flrst-Class Engrlisb

Iron AND Steel Rails

AT LONDON PKICES, F. O. B.

We also purchase all classes of Railroad SeourltlM
and BSgotiate loans for Railroad Companies.

1¥M A. GUEST & CO., •

No8. 41 and 43 Pine Street, New Tork.

STEIL

CAR

PUSHEB

MADE ENTIRELY OF STEEL

ONE MAN with it can eaidly
j move a loaded car. .^ -

Manufactured by E. P. DWIGHT,

DKAL.EB IN BaILBOAJ) SvrVUXB,

407 LIBRARY ST.,

PHn.ADBI.PHTA.

NO PAYMENT KEQUERED UNTHi

TUBES ARE TESTED AND
I SATISPACTOBY.

> I HI. B.— Send for Stock lAnU

-*^"-'-*^ - .tlLi^W.

COTTeiV-SEED HULLS

For Packing Journal Boxes of Cars.

Natioml Railwat Pateit Waste Co.
i 240 Broadway, New York.

■iiA.'^

Safety Railroad Switches

r: WITH MAIN TRACK UNBROKEN.

Railroad Crossings, Frogs, and Otb^r
Kailroad Supplies.

MANTTFACTUBED BY THB

WHARTON RAILROAD SWITCH CO.,

, PHUiADEIiPHLA.

Works: 33d and UTashinorton Ave.
Office: SS Sontk 3d Street.

nuntat

[STAiLISHES 1831.

steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures.

Sbcond Quabto Skbies.— Vol. XXXVlll., No. 7.]

NEW YORK, FEBRUARY 18, 1882.

[Whole No. 2,391.— Vol. LV.

The Sha^v Locomotive.

finest mechanical calciilation ; but all of them I double track and thus wiU be able to do much
have been unsuccessful. more business than is done by the Victoria

This locomotive is built for fast running, Bridge. Now, I have often been compeUed to
and it is claimed that there is an increase in the wait at St. Lambert for a couple of hours be-
area of wearing surfaces, perfect balancing of fore we could get into Montreal, owing to the
the revolving parts, due to dividing the work crowded state of traffic over Victoria Bridge.

The Hinkley Locomotive Works, of Boston,
Mass., have lately built a locomotive after the
designs of Henry F. Shaw, of Roxbury, Mass.,
intended to obviate those strains on the frame

of the ordinary locomotive that are caused by I ^jg^^gen four steam cylinders. One of the re- 1 For all that, I believe that we will not interfere
the alternating thrusts of the unbalanced mov- jj^^rkable tests that have been applied to this with the G. T. Railway business, because by
ing parts on each side of the machine. The locomotive is to place it on four jack screws the time we have our tunnel completed there
impulse of the change of direction of the heavy ^^^ elevate it clear of the track, and then to will be traffic enough for both of our routes."
side of wheel, etc., is in a " fore-and-a^ " direc- ^^^^ ^-^^ throttle valve and run the engine at a "When do you expect to have the work fin-
tion on one side of the engine, while it is verti- gpgg^ of ^^o hundred and seventy-five revolu- ished?"

cal, either upward or downward, as the case Lj^j^g p^j. j^^j^^te in this position without dis- "In 1885 we hope to have trains running
may be, on the other side at the same instant, Curbing it, while an ordinary locomotive in this through. In general I believe that tunnels are
the former tending to rack the frame and the position would be disturbed at thi'ee revolu-
lattercauselateraloscillations, which it actually L^Qj^g pg J. jj^jjj^^Q t - -

does, more or less, to the great damage of the ,. The time made between Camden and Atlantic
road bed. The effect is far greater if the en- ^as'seventy-seven minutes, which included two

gine is rocking from side to side than what
would be due to the simple impulse of the pre-
ponderating weight jot the reciprocating and
revolving parts. The plan of the Shaw loco-
motive is to place a duplicate set of revolving
and reciprocating parts on either side of the
engine, so connected that one set on each side
will be thrusting in the same direction at the
same instant, and thus tend to correct this
hitherto unavoidable objection to outside cyl-
inder locomotives.

A trial trip was recently made with this new
machine on the Camden and Atlantic railroad.
The Philadelphia Inquirer gives the following
as the dimensions of the four cylinders, etc. :
They are, "10^ inches in diameter, 24 inches
stroke, equal to a 14:|x24 of the ordinary loco-
motive. The cylinders are placed side by side
in the same place. Four cylinders are contain-
ed within two castings, and do not increase the
width of the locomotive as much as might at
first be supposed. '••;;' z -■■';■,. :■'-■

"One slide valve admits and exhausts steam
to and from each pair of cylinders, which are
placed side by side ; the valves are operated by
the usual link motion and rock arm (as is cus-
tomary upon ordinary locomotives), thus avoid-
ing the complication that would arise from
the use of a separate slide valve for each
cylinder. This engine, when running, cannot
be distinguished from the ordinary locomotive
having only two cylinders, as the steam is
taken and exhausted from the opposite ends
of two cylinders simultaneously. ••;,>/

"Many experiments have been made in bal-
ancing, reciprocating with rotating parts to run
steadily with each other, on locomotive engines.

stoppages of six minutes at Egg Harbor and
Absecom, the actual running time being sev-
enty-one minutes. The fastest mile was made
in fifty-eight seconds, and two consecutive
miles, each fifty-nine seconds, three cars on
the train."

Tunnelling the St. Ijawrenee.

OuB reporter met Mr. Rouillard, the con-
tractor for the construction of the Hochelaga
tunnel, and in answer to enquiry learned ttat
he is now progressing with the work of organ-
izing his staff, so that he will be able to pro-
ceed with the work as soon as he can comply
with legal forms for expropriating property. He
has had considerable experience in tunnelling,
as a mining engineer principally, and has
gained much experience in the Rocky Moun-
tain region. The Comstock mining tunnel,
sunk to a depth of five miles, he is well ac-
quainted with, havii^ been engaged there upon
the work for some time. He sees no difficulty
now in the way of successfully tunnelling the
bed of the St. Lawrence, as they will be cutting
through Utica shale all or nearly all the way.

"Is the danger of tunnellii^ as great as that
of bridge making ?" .■;;!.-; J '^

' ' I think not. Just think how many were
killed in making the Victoria Bridge before it
was finally completed."

" There were a good many killed in the New
York tunnel?"

" Yes, but that is a much more difficult work
than cutting through rock. I believe that there
are fewer accidents in tunnels than upon rail-

way bridges. You rarely ever hear of trains
as they are now built, involving some of the I coming together in tunnels. We will have a

cheaper than bridges in the long run, and I be-
lieve that in the case of our tunnel we are
specially fortunate in that respect. If we do
one quarter of the business done by the Grand
Trunk at five dollars a car, we will pay eight
per cent on a capital of four million. That,
however, is a matter I have no concern with,
as I am not fortunate enough to hold the stock
of the road. I am the contracting engineer ;
Mr. Walter Shanly is the Company's engineer.
He, as you are aware, is a gentleman who has
had a great deal to do with tunnels."

"How does your work comp«u*e with the
Hoosac tunnel as to difficulty ?"

"There is no comparison. That tunnel is
much longer, and great difficulties were met
with. They worked the tunnel from different
shafts let into the mountain, while we will
work both ends, knowing precisely what we
have to do — so far as can be known. Besides,
we have the benefit of the experience of that
and other works. In case of accident, we can
foresee it and provide against it. For example,
if we feel a general dampness in the wall in
which we are working, we use the compressed
air, which excludes or rather offers a rr sistance
to the outer pressure until we are able to pro-
vide the remedy. In case we strike a fissure,
we are warned by keeping a drill always run-
ning several feet in advance of the workers.
The spirt of the water through this hole would
warn us, and then the compressed air would be
our protection again." i ' > '-^Vj i.

" Did they not have these appliances in New
York?"

" Yes ; but they did not keep building the
supports quite close enough to the roof and
sides of the tunnel. This should always be
done. In fact they should keep a little ahead
of the excavation, as can easily be done by
boring around the sides and building close up
to it."

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AMERICAN RAILROAD JOURNAL.

"Have they never had accidents in the
Thames tunnel ?" ,44

' ' Yes ; they had an accident there and great
loss of life at one time — caused, I think, by a
vessel dropping her anchor above the tunnel.
Nothing has since happened, and that tunnel
has been in use more than half a century. We
will likely have no trouble of that kind."

In concluding, Mr. Robillard said he did not
quite know where they were to locate the en-
trance and exit of the tunnel, but hoped to meet
the press men in 1885 in the centre of the tun-
nel under the bed of the St. Lawrence to cele-
brate a completed work. — Montreal ^a'dy Wit-
ness, ' I

An Odious Monopoly in Danger.

Unless all signs fail, the lunch-basket will
soon cease to be the indispensable companion
of the trip between New York and Boston. The
journey now consuming seven hours will be
done with ease in four. For this no thanks
will be due to the New York, New Haven and
Hartford and connecting lines. No one ever
had occasion to thank that monopoly for any-
thing. Owning the only rail route between the
two cities, its sole aim is the extraction of the
largest amount of money for the least service
from persons unfortunately compelled to pat-
ronize it. At a time when all enterprising rail-
road companies are quickening their speed,
this monopoly jogs along at the old gait of thir-
ty to thirty-four miles an hour —the latter being
its ' ' lightning" pace. The Pennsylvania trans-
ports New Yorkers to Philadelphia in two hours
or less — at the rate of forty-five mile^ an hour.
Daily trains are whirled from New York to
Chicago (about one thousand miles) in twenty-
six hours, or thirty-eight miles an hour. It
remains for one of the richest railroad lines in
the world to keep up its old, slow style and
penurious habits and dilapidated rolling-stock,
with the same sublime indifference to modern
improvements that it shows to the comfort of
passengers.

A dining or restaurant car attached to the
express trains would be an immense conven-
ience, enabling passengers to dispense with the
primitive and clumsy lunch-basket or saving
them the necessity of bolting an indigestible
apology for a meal at New Haven, Springfield,
or some other point in five or ten minutes of
stoppage. Two great and rich cities support
this monopoly. All they have ever asked in
return for the high fares is a sufficiency of ac-
commodations—either a speed high enough to
reduce the trip to four or five hours, or proper
facilities for breaking the seven hours' fast on
board. But the line denies everything to its
patrons, studying its own views of self inter-
est first, last and always. Not the least of the
popular objection to it is the rate of fare
charged. It costs $5 to go from New York to
Boston, without the privilege of stopping over
anywhere. Last summer trains were run from
Chicago to Boston via the Grand Trunk at $5
a head, and the combination of lines concerned
made money at it. But the New York, New
Haven and Hartford and its allies have been
under no competition save from the Sound
steamers, and can charge almost what they
please A competing all-rail route is needed to

:,-.X, ■■.:.= : .:>■.■■):■.■:'---

bring down the faros to their proper limits and
to make a veteran monopoly less offensive in
other respects. We ai-e happy to say that there
is a rod in pickle for it. Long-suffering Bos-
ton, less patient than New York under griev-
ances, is undertaking to provide one want of
the times — a really first-class, literally fast-rail
communication between the two cities. Bos-
ton has plenty of spare capital, and has been
fortunate in most of her railroad investments.
She is not frightened by the $45,000,000 or
$50,000,000 that may be needed to build the
air-line, which alone will satisfy her. Beason-
able prospects of a fair return of her money is
all she asks or expects. The promoters of the
scheme are not without good ailments. They
claim that there is business enough between
New York and Boston for the exclusive support
of an air-line that would have no stopping
places (for express trains) from end to end.
The distance, as the crow flies, is but little over
170 miles. This could be traversed in four
hours' at less than forty-five miles an hour.
The present rail distance is 233 miles. It is
evident that the rival line would have an enor-
mous advantage over the old concern. It is
possible for even despots to confer benefits on
civilization — as when the Russian Czar marked
out with a ruler and pencil the present railroad
route between St. Petersburg and Moscow.
New York and Boston will feel much obliged
to any power in this republican country strong
enough to lay down a straight rail line from
one city to the other, and by this means give a
needed lesson to a monopoly which is a dis-
grace to the age and a standing reproach to
Yankee enterprise !— iV. T. Journal of Cmnmerce.

Safety from Fire in Cars.

ADMIRABTiK SYSTEMS OF LIGHTING AND BIATINO
. i . j .' ,, " A TRAIN. ^ ■■' ..

BAiiiitoAD companies will suffer until their
trains are rendered absolutely safe against fire.
The first serious attempt of this kind is likely
to be made by the Boston and Providence and
the Stonington railroad companies, who are
considering the adoption of the Graydon Safety
Heater on the well known steamboat train be-
tween Stonington and Boston. It consists in
taking steam from the engine, passing it around
the train and back into the water-tank in the
tender. The heater acts automatically, keep-
ing an even, pleasant heat, and, of course, it
can set nothing on fire. Neither can it by any
possibility scald any one, no matter how severe
or sudden may be an accident; it cannot be in-
terfered with by the train being snowed up or
thrown off the track, even though its fuel should
run low. It costs less than $40 to put it into a
car, about $10 to put the necessary attachment
to a locomotive, and less than $90 for each bag-
gage car. There is absolutely no expense for
heat, since the exhaust steam can be used, or
the " blow-off," without taking any efficient
force from the engine ; moreover, it heats the
feed water to a temperature of more than 100
degrees, so that warm water is pumped into
the boiler instead of cold. Its cheapness, econ-
omy, simplicity, durability, and above all, its
absolute safety, make it the heater, above all
others, that will satisfy the public and the rail-
road companies, for it is the only one that takes

steam from the engine successfully.

But even though the stoves in each car were
dispensed with, the lamps would still be grave
sources of danger ; and as light is as essential
as heat, no train can be considered absolutely
safe until this difficulty is overcome by a safety
contrivance. This contrivance has been found
in the Pintsch system of lighting by gas. This
gas is supplied from a reservoir on the top of
the car, where it is stored under a pressure of
about six or seven atmospheres. It is prepared
by a special process which secures a large pro-
portion of carbon, producing a very white light,
and it does not condense and clog under pres-
sure as ordinary gas would. An automatic
valve regulates the pressure and the flow, so
that no ordinary biimp, or shock, or jolting,
interferes in the slightest with the steadiness
of the light. :^ ••- -' •• /i" .' ' .'V /'..

This system is in use in Germany and in
England, where the writer has seen it in con-
stant operation for months on all the trains of
the Metropolitan (underground) railway in Lon-
don. No one can fail to be struck by its bright-
ness and steadiness, and the finest print can be
read anywhere in these cars. It is also abso-
lutely impossible for a train to take fire from it.
Any shock that would break the lamps would
instantly extinguish the light, as it is one of
the peculiarities of gas that every burner with-
in the influence of such a shock is put out in-
stantaneously. Also it could not again become
ignited, because the pipes being broken the
small amount of gas in each car would dissi-
pate itself in the atmosphere within less than
half a minute. And as the reservoirs are on
the top of the car, the gas will ascend in case
of accident. — Providence Press.' ■'■ 1 \-- " '

A New Railroad FoUcy in Philadelphia.

The annexed editor^^l paragraph from the
Philadelphia North American marks a new de-
parture with the journals of that city on the
railroad question — as they have hitherto either
advocated the plan or silently acquiesced in it,
of repressing all efforts made by the trunk lines
to enter that city. The editor says :

"Philadelphia is so largely indebted to the
Pennsylvania Bailroad Company for what it has
done on behalf of the city, that those obligations

ought always to be remembered with respect
and esteem. But now that the company has
acquired such immense interests in New York
and Baltimore, it is the dictate of reason and
common sense that the city should take care of
her own commercial interests by obtaining as
many trunk-line tributaries as possible. In
doing this the city will be merely imitating the
example set by the company itself. We nave
abundance of capital to secure such tributaries
and competing lines, and we should lose no
time in making that capital tell effectually."

— ^ ^

The Virginia and Kentucky and the Rich-
mond and Southwestern Bailroad Companies
have been consolidated under the name of the
Bichmond and Louisville Bailroad Company,
Gen. J. L. Meigs of Boston is president, and
W. H. Curtis secretary. The directors are :
Franklin E. Gregory, of Boston; Wm. E. Peery,
of Tazewell, county, Va. ; Gren. G. C. Whar-
ton, of New Biver, Va. ; John P. Poe, of Bal-
timore; T. A. Lambert, of Washington, D. 0. ;
and Charles Payson, of New York. Gen. G. C.
Wharton is chief engineer of the road. The
office of the com -^any is at Alexandria, Va.

AMERICAN RAILROAD JOURNAL,

PUBLISHED WEEKLY BY THE

AMEBIC AN RAILBOAD JOURNAIj CO.,
284 Pearl St., cor. Beekman, New York.

Subscription, per annnm, in advance . . .'. $5 00

Foreign Subscription, including postage 6 00

Subscribers are requested to report to our office any
irregularity in receiving the Jodbnal.

Contributed articles relating to Railroad matters gen-
erally, Mining interests, Banking and Financial items.
Agricultural development, and Manufacturing news, by
those who are familiar with these subjects, are especial-
ly desired.

Payments for advertising and subscriptions should be
made by check payable to order of the Treasurer.

Mr. Fredebic Ajwjab, Nos. 11 and 12 Clements Lane,
Lombard Street, London. E. C, England, is the author-
ized European Agent for the Jottrnal.

At the annual meeting of the Ameeican Railboad
JouBNAL Co., held at the office of the Company, No. 284
Pearl street. New York, February 8, the following offi-
cers were elected :

GEO. F. SWAIN. President.

S. PBOCTOR THAYER, Vice-President.

EDW. A. WRIGHT, Treasurer,

CHAS. T. VALENTINE, Secretary.

New York, Saturday, February 18, 1882.

Entered at tht Post Office at New York City as Secondr Class
Mail Matter.

NATIONAL BANKS.

TT is not the design of this article to treat of
National banks in their entirety, but to
draw attention to two features of almost abso-
lute safety. The first relates to stockholders.
Of the $530,000,000 invested in National bank
stock, but $17,000,000 has ever been lost to
stockholders, or 3^ per cent of the whole
amount invested. This is a showing for in-
vestors of money which comes so near promis-
ing absolute safety that it seems almost un-
pardonable when a hue and cry is started
against the banks because of the defalcation of
some officer. There is no other line of invest-
ment outside of United States bonds that can
make such a claim. The other feature relates
to the people at large who have to handle the
currency issued by the banks. There was a
time when currency was an unknown quantity.
A person could go into a bank and find a num-
ber of clerks engaged in assorting bank-notes,
80 that they might find their way back to their
respective States, and be returned to the several
banks of issue.

A bank- note issued on Wall street was worth
a hundred cents on a dollar in New York City,
but the same note carried West depreciated in
value the further West it went, the discount
being based upon the number of days it would
take to get it back to Wall street, and the gen-
eral reputation of the bank issuing it. When
a bank failed, even the most respectable, it
became a question of doubt how many cents
on a dollar the innocent holder of its currency

would receive. This system of banking brought
in its train numerous evils. There were banks
formed which made paper money largely in
excess of their ability to redeem, and flooded
the market with what was termed "wild-cat
currency." -: ^

To-day, however, with our present system
of National banks we have a showing exactly
the reverse of what was seen in State bank
days. We have a currency, no matter by what
National bank issued, or in what State, that is
worth one hundred cents on the dollar in every
State, county, city, town, village, and hamlet
wherever currency is received. This is not
all. The failing of a National bank does not
depreciate its currency. On the contrary, we
have the somewhat strange condition of affairs
that when a National bank fails its circulation
commands a premium. The limit to the
amount of National currency issued makes it
impossible to start new banks until some of
those already in existence are retired. When
any bank from any cause is retired there are
always capitalists enough standing ready to
offer a premium for its circulation, in order to
start a new bank. This sometimes makes the
currency of a failed bank worth one hundred
and three cent on the dollar, when as a solvent
bank it was worth only face value. - -'

The officers of State banks who are now
officers of National banks must be singularly
impressed when they remember how they used
to allow a week's interest to some broker to
circulate their notes, while now the notes of a
failed National bank command a premium.
While our currency is in this present condi-
tion there can be no doubt as its absolute
safety. It then well becomes our legislators to
let it alone. It cannot be improved. It can-
not be changed without loosening to a greater
or lesser degree this absolute safety. By all
means, let the people stand up and demand
that no tinkering be done with the currency,
as the present absolute safety is far more
desirable than any fancy theories of self-seek-
ing politicians. .

SENATOR BOYD'S RAHiROAD BILIi.

rr^HE railroad bill introduced into the New
York legislature a few days ago by Sen'
ator Boyd, who was elected by the help of the
anti-monopolists in the sixth district, is the
most important piec« of legislation that will be
considered by that body during this session.
There can be no question with regard to the
desirability of a railroad commission for the
Empire State, but there are gross objections to
the bill referred to in its present form. The
bill is taken from the statutes of Geoi^a and
is far more sweeping in its terms than the Mas-

sachusetts railroad law, which has been taken

as a model by several States.

It provides for the appointment by the gov-
ernor of these railroad commissioners, who
shall hold office for six j'ears, the terms being
arranged so that a vacAncy shall occur every
two years, and charges them with the execution
of the act. The commission is to be located at
Albany, to have a secretary and attorney, and to
make an annual report to the Legislature. One
half of its expenses are to be paid by the State
and one half by the railroad companies. No
person holding or owning stock in a railroad is
to serve as commissioner or in any capacity
under the commission, and an acceptance of a
free pass by a commissioner is made a misde-
meanor.

The powers of the commission are very broad,

and their authority is limited only by the de-
cisions of the Supreme Court at Albany on ap-
peal. Section 8 of the bill, provides that " all
freight tariffs shall be made uniform." Uni
form in what respect ? Are through and local
rates to be the same or are rates to be the same
between competing and non-competing points ?
The commissioners are to be the sole judges of
what " uniform freight tariffs" mean. But if
freight tariffs are to be made uniform, why
should not passenger fares be made uniform

also?

Section 9 empowers the commission to make

reasonable maximum rates for freight and pas-
sengers, based on the cost of service. This
maximum rate shall in no case exceed ten per
cent over and above the actual cost of such ser-
vice, and in no case shall any rebate or bonus
be allowed, directly or indirectly.

Here again the term " cost of service" is
fixed wholly by the board of commissioners,
and the maximum rate is never to exceed ten
per cent above the " actual cost of such ser-
vice." If rates are to be based upon cost of ser-
vice then it will be difficult if not impossible
to have freight tariffs •• uniform." If the rule
is adopted that freight service shall be charged
at the average cost of the entire road per mile
run for freight business, then freight tariffs will
vary with different roads. If mileage and in-
terest of investment be taken into account the
discrepancy will be still greater.

Again, the commissioners may publish, from
time to time, freight schedules, and all contracts
for the carriage of freight not in conformity with
such schedules .shall he void. In order to arrai^e
these schedules the commissioners have power
to examine the books of the various railroads,
to administer oaths, and to call for persons and
papers upon which to base their tariff sched-
ules for freight and passengers. A fine of not
more than five thousand dollars or imprison-
ment is the penalty for disobedience.

. vT... *.; jr^.f.-T-

100

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AMERICAN RAILROAD JOURNAL.

}

rrT^^r^TJT^iyp*

■ . « ■

■ t" 1^

We imagine that Mr. Boyd would have a very
ardnons task in enforcing the section of his bill
which declares that no contracts for the car-
riage of freight which are not sanctioned by his
commissioners shall be valid. If he is able to
satisfy himself that such a provision does not
interfere with the vested rights of railroads as
secured to them by their charters, we beg to
call his attention to that section of the consti-
tution of the United States which declares that
no law shall be passed that shall impair the
* ''obligation of contracts."

He does not need a lawyer to tell him that
he State of New York cannot pass a law
that shall affect a contract made in that State,
—between a man in New York City, for instance,
and a man in Chicago or New Orleans. A freight
shipper in Chicago who makes a contract for
the carriage of freight with a citizen of New
York cannot be disturbed as to his contract by
a law made in New York State; although his
contract is made payable in New York City.
That provision in Mr. Boyd's proposed bill
may do for Georgia, but it never would receive-
the sanction of the Court of Appeals even if
adopted by the New York Legislature.

The bill concludes by authorizing the com-
mission to enforce its rules and orders by
attachment, fine and imprisonment, and by
the most extraordinary provision that no in-
junction shall be made by any court in the
State which shall have the effect of hindering
or obstructing or delaying the operation or ef-
fect of such rules or orders as the commission
may make, unless such injunction or restrain-
ing order is founded upon judgment of a coiirt
upon appeal declaring such order unlawful and
invalid.

In other words, no matter how unjust or ab-
surd rules or orders of the commission may be,
no court in the State can interfere with such
rules or orders, until the Supreme Court at Al-
bany upon appeal shall have declared such
order invalid.

Comment upon this section would seem to
be unnecessary'. The writer of this article is
personally interested in a suit at law in which
he has been waiting patiently for more than
two years for a decision from a justice of this
same Supreme Court at Albany.

We have no fear that the Legislature of New
York, if it succeeds in doing any business this
session, will pass this bill in its original draft.
We say again, the subject is the most important
that will be considered by the New York or any
State legislature this winter, and it should re-
ceive the fullest and freest discussion. Such
legislation is greatly needed in New York State
especially. Space forbids us from the further
consideration of the matter at present, but we

would respectfully call the attention of Senator
Boyd, if he is not pledged to the advocacy of
extreme measures, to the admirable railroad act
of the State of Massachusetts, which statute
has stood the test of experience and has proved
of great value to people and railroads alike.

Columbus, Chicago and Indiana Central
, Railw^ay.

At an adjourned meeting of the bondholders
of the Columbus, Chicago and Indiana Central
Kailway Company, held in this city on the 11th
inst., the plan of reorganization proposed at a
meeting held on the 9th inst. between a com-
mittee of their number and the Pennsylvania
Railroad Company and the Pittsburg, Cincin-
nati and St. Louis Railway Company was rati-
fied by a vote of $8,761,000 to $134,000. The
agreement goes into effect by the foreclosing
of- the consolidated mortgage of the Columbus,
Chicago and Indiana Central Railway Company,
and the selling of the property covered by it,
which is to be bought in. The purchaser is to
form a new corporation, with a capital of $10,-
000,000 common stock and $20,000,000 prefer-
red stock, the dividends on the latter, it is claim-
ed, to be 6 per cent per annum, payable semi-
annually in preference to dividends on the
common stock, and to be cumulative. The
new company shall issue first mortgage bonds
for $22,000,000, payable at the end of fifty
years, with interest at 5 per cent. Of these
bonds $5,500,000 is to be reserved for underly-
ing sectional bonds that may come due. Bonds
to the amount of $12,878,000 par value shall be
issued in exchange for old bonds and receipts,
and the remaining $3,622,000 of such bonds
shall be used by the new company to raise
monej' for improvements. Two million four
hundred thousand dollars shall be paid by the
Pennsylvania Railroad Company and the Pitts-
burg, Cincinnati and St. Louis Railway Com-
pany to the new corporation, when organized,
in satisfaction of all claims held against them
by the Columbus, Chicago and Indiana Central
Railway Company. The holder of each bond
issued by the Columbus, Chicago and Indiana
Central Railway Company shall be paid $150
in cash and $400 in preferred stock of the new
company, bearing 5 per cent interest. The
Pennsylvania Railroad Co. shall convert the
second mortgage bonds of the Columbus, Chi-
cago and Indiana Central Railway Company
into income bonds, as directed by the United
States Circuit Court, and the holder of every
income bond coming into this scheme shall
surrender to the committee of the bondholders
of the Columbus, Chicago and Indiana Cen-
tral Railway Company all income bonds held
by him, and pay the committee 10 per cent in
cash of the par value thereof. In return for
this he shall receive $1,250 in preferred stock
and $250 in common stock of the new compa-
ny for each income bond delivered, and the
holders of stock in the Columbus, Chicago and
Indiana Central Railway Company shall sur-
render to the com/nittee all stock held by them
and pay 5 per cent in cash on the par value of
said stock and shall receive therefore stock
in the new company for one half of the
amount of their old stock. All money to be
paid in cash and all stocks and bonds surren-
dered to be given this committee to enable
them to carry out the plan of reorganization.

PERSONAL.

Augustus ScHEiiL has been elected president,
and James Tillinghast, vice-president, of the
New York Central Sleeping-Car Company.

John Wood has been appointed traveling
agent of the Detroit, Lansing and Northern
Railroad Company, vice W. W. Heafford, re-
signed.

Bkevet Major-Genebal Meigs, Quartermaster-
General, and Brigadier-General Latham W.
Brown, Paymaster-General, have been placed
upon the retired list.

J. E. P. Abbott has been re-elected presi-
dent, and Charles R. Colwell secretary and
treasurer, of the May's Landing and Egg Har-
bor City Railroad Company. I

Chables O. Scull has been appointed chief
assistant general j^assenger agent, and Frank
Vanditsen, chief clerk of the Pennsylvania
Company's lines west of Pittsburg.

Thomas C. Keefer, of Ottawa, Canada, was
elected one of the directors of the American
Society of Civil Engineers at the recent annual
meeting in New York. He is the first Canadian
who has been thus honored by the Society.

The directors of the Kentucky Central Rail-
road Company, have elected the following
officers : M. E. Ingalls, president ; Gen. John
Echols, vice-president ; C. H. Bronson, secre-
tary and treasurer ; J. D. Ellison, general man-
ager.

WiLLLiM H. Hayes has succeeded the late
George Law as the president of the Eighth
and Ninth avenue horse railroad companies.
Mr. H. B. Wilson, who has been for twenty-
eight years connected with the Eighth avenue
Road, remains as its superintendent and gen-
eral manager.

The Mayor of Baltimore has nominated and
the City Council confirmed the following direc-
tors on the part of the city in the Baltimore
and Ohio Railroad Company ; John Gill, J.
Kettlewell Ober, George R. Barry, Henry Mc-
Shane, Joseph Friedenwald, John H. Holthaus,
and Michael Coakley.

David Jones, a well-known civil engineer,
died at his residence near Titusville, Penn., on
the 6th inst. Mr. Jones came to this country
from England at the instance of James Mc-
Henry, to engage in the construction of branch
lines for the Atlantic and Great Western rail-
road.

The stockholders of the St. Joseph County
division of the Toledo and South Haven Nar-
row-Gauge railroad, have elected John F. Wall,
president ; E. D. Thomas, treasurer, and John
A. McKinlay, secretary. It is expected that
this road in time will be completed from South
Haven to Toledo.

Miss Belle Braden, who has recently been
re-elected treasurer of the Waynesburg and
Washington Railroad, in Pennsylvania, for a
second term, is probably the only lady in the
United States, who is a railroad officer. She is
also paymaster, and makes regular trips over
the road in the pay car.

The list of sworn brokers in the city of Lon-
don contains a number of the aristocracy, in-
cluding a duke's younger son, Lord Walter

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AMERICAN RAILROAD JOURNAL.

101

Campbell, and also the following : The Hon.
Albert Petre, the Hon. Edward and Henry
Bourke, Sir Maurice DufiE-Gordon, the Hon.
Kenelm Pleydell-Bouverie, the Hon. Richard
Strutt, and Sir Hector Maclean Hay.

N. E. Chapman, for seventeen years master
mechanic of the Cleveland and Pittsburg rail-
road has resigned his position, to take effect
February 25. He will accept the position of
master mechanic of the Baltimore and Ohio
railroad, from Washington to Chicago, with
headquarters at Baltimore. In this new posi-
tion he will have charge of 6,000 miles of rail-
road, and the rolling-mills, steamboats, etc.
belonging to the company will be under his
supervision.

The officers of the Shenandoah Valley Rail-
road Company, recently elected, are : F. J.
Kimball, Philadelphia, president ; U. L. Boyce,
Boyceville, Va., vice-preSident ; "W. G. Macdon-
ald, Philadelphia, treasurer ; G. R. W. Armes,
Philadelphia, secretary ; W. H. Travers,
Charlestown, Va., general counsel ; W. W. Coe,
Lexington, Va., chief engineer ; J. H. Sands,
Hagerstown, Md., superintendent; C. P. Hatch,
Hagerstown, Md., general freight and pas-
senger agent ; J. W. Coxe, Hagerstown, Md.,
auditor and general ticket agent.

ORGANIZATION.

The officers of the Providence and Worcester
Railroad Company, elected on the 10th inst.,
are : President, George Leete ; treasurer, John
R. Balch; superintendent, William E. Cham-
berlain.

The stockholders of the Canada Iron and
Manufacturing Company of Montreal have elect-
ed the following board of directors : Henry
Bulmer, president, R. W. Sheperd, vice presi-
dent, Robert Anderson, George A. Drummond,
John Ogilvie, and the Hon. Thomas Ryan ;
secretary and treasurer, Philip S. Ross.

The directors of the Boston and Albany Rail-
road Company, elected on the 8th inst., are :
George O. Crocker, of New Bedford, Moses
Kimball of Boston, Henry Colt of Pittsfield,
Edward B. Gillett of Westfield, John Cnmmings
of Woburn, Charles S. Sargeant of Brookline,
William Bliss of Springfield, James A. Rum-
rill of Springfietd.

Henry S. Eckeet has been elected president,
Jas. Lord sec'y and treas., and Geo. B. Eckert, A.
Wilhelm, Thos. Darlington and H. V. L. Meiggs
directors of the Penn. Belt and Nut Works.
The manufacture will be carried on in the old
Planing Mill, on South Third st., Reading,
until suitable new buildings are erected. The
capital of the company has been fixed at $150,-
000. .^,,, ^. .

At a meeting of the directors of the
Halifax and Cape Breton Coal and Rai-
way Company, held on the 8th inst.,
the old board of directors were reelected
as follows: Sir Hugh Allan, president ;
Hon. John Hamilton, vice president ; Hon. J.
J. C. Abbott, Andrew Allan, Capt. T. D. Mil-
burne, Harry Abbott and H. Montague Allan.

The stockholders of the Kingston and Pem-
broke Railway Co., at their annual meeting in
Kingston, Ca., on the 8th inst., elected the fol-

lowing directors : R. P. Flower, J. D. Flower,
H. H. Porter, J. Munson, C. F. Gildersleeve, B.
A. Kirkpatrick, W. N. Nickle, B. W. Folger and
J. Swift. At a meeting of directors later C. F.
Gildersleeve was re-elected president and J. D.
Flower, vice president.

The following gentlemen have been elected
directors of the Louisville, Evansville and St.
Louis Railway Co. for the ensuing year : John
Goldthwait, James H. Wilson, Henry D. Hyde,
Jonas H. French, Wm. J. Hartchart, J. Pay^ne
and Frank B. ^Vhite, of Boston ; St. John Beyle
and Bennet H. Young, of Louisville, Ky. ; Ed-
ward Cummings, of Covington, Ky. ; Bluford
Wilson, of Springfield, 111. ; Wm. Heilman and
Wm. F. Nesbit, of Evansville, Ind. ,

The Stove Manufacturers' Association of the
United States met at Cincinnati on the 8th inst.,
and elected the following officers : President,
W. H. Whitehead, Chicago; vice presidents,
Giles F. Filley, St. Louis; S. R. Burton, Cincin-
nati ; treasurer, Uriah Hill, New York; secretary,
W. H. Lord, Chicago; managers; R. P. Meyers,
Cleveland; A. Bradley of Pittsburg; John S.
Perry, Albany, N. Y. ; Wm. Obenroth, New
York, and John McGee, Boston. There were
about 80 members present.

At the annual meeting of the stockholders
of the Indianapolis Belt Railroad Company,
held on the 10th inst., the directors chosen
were W. R. McKeen, E. F. Claypool, Horace
Scott, D. W. Minshall, M. A. Downing, John
F. Miller, John Thomas and R. S. McKee. The
only change was McKee, vice C. C. Gale, who
has disposed of his interest and was, therefore,
ineligible. W. R. McKeen was continued pres-
ident and E. F. Claypool secretary.

The directors of the Louisville, New Albany
and Chicago Railroad Company, elected on the
10th inst., are: John J. Astor, Robert Lenox
Kennedy, Jamuel Sloan, R. G. Rolston, E. H.
Green, William Whitewright, J. A. Gargiulo
and H. Victor Newcomb, of New York ; E. D.
Standiford, R. S. Veech, Isaac Caldwell and
Robert R. Hitt, Louisville, and Henry Craw-
ford, of Chicago. The new members of the
board are Messrs. Gargiulo, Hitt and Crawford,
who take the places of Henry F. Vail, deceased,
and F. DeFuniak and W. C. De Pauw. .

The Madison Square Bank has been organ-
ized under the State laws, and will be opened
for business in West Twenty-third street as
soon as suitable quarters are secured. Mr. W.
Wetmore Cryder will be the president, and
among the directors will be Lawrence Thrnure,
R. P. Lounsbery, C. C. Baldwin, Effingham
Townsend, Charles Delmonico, Charles L. Per-
kins, G. G. Haven, Wm. B. Dinsmore, Charles
Curtiss and George M. Fuller. The capital
stock is $200,000, and among the subscribers
are Mayor Grace and David Dows.

At the annual meeting of the stockholders of
the Scioto Valley Railroad Company, held in
Columbug, Ohio, on the 9th inst., the follow-
ing board of directors was elected : William
Adams, H. K. McKarg, E. F. Winslow, Horace
Porter, New York; Marcuss Boggs, Chillicothe;
George Davis, Portsmouth; William W. Frank-
lin, George Skinner, Joseph Robinson, Colum-
bus. At a subsequent meeting of the direct-
ors the following officers were chosen : Wil-

liam Adams president, W. W. Franklin, vice
president ; George Skinner, superintendent ;
Joseph Robinson, assistant superintendent and
treasurer; James P. Curry, secretary.

The annual election of the American Insti-
tute on the 10th inst. resulted as follows : For
president— Nathan C. Ely; for trustees — Charles
H. Clayton, James Delamater, Edward Schell,
William H. Schermerhom; for managers — Al-
exander M. Ea^leson, George ^^^litefield, Abra-
ham Lent, William H. Gednej', Charles F.
Jardine, Albro Howell, Aug. Wetmore, Jr., J.
Allen, John J. Tucker, John Trumbull Smith,
Edwin R. McCarty, Benjamin 11. Western,
Peter W. Mead, Aaron L. Northrop, John H.
Walker; for auditors — William A. Camp James
G. Powers (for the unexpired term of Sey-
mour A. Bunce, deceased) ; for inspectors of
election — Benton H. Martin Joseph E. Dun-
ham, Thomas D. Briggs.

CONSTRUCTION.

The Canada Atlantic Railway engineers com-
menced the location of the line from Valley
field to Rouse's Point on the 7th inst.

The contract for Emorj's Bar and the Port
Moody section of the Canada Pacific Railway
has been awarded to A. R. Onderdonk.

Feom Panama, Feb. 14th, we learn that the
section of railroad from Corinto to Chinande-
ga, Nicaragua, has been finished, and within
three months the road will have been extended
to Leon.

The Missouri Pacific Railway of Nebraska is
completed to Sheridan, the centre of Nemaha
county, in that State, and trains to Atchison
are running. The force constructing the road
has been doubled, and it is intended to finish
to Omaha by April 1.

The West Chester (Penn.) Local Xines hears
that so much of the New York and Lancaster
Railroad which is to run between the Falls of
French Creek and Phoenixville will be located
and the ground broken before the '* trees begin
to leaf " in the spring.

The Cabinet Ministers who accompanied Mr.
James Sullivan over the Pascuaro division of
the Mexican National Railway, 270 miles from
the city of Mexico, recommend the completion
of the work. The government has authorized
the opening to traffic of forty miles of the road
from Laredo southward.

The Philadelphia and Reading Railroad is
now on the opposite side of the Susquehanna
River from the thriving borough of Watson-
town, and it is generally understood that the
new management will construct a bridge across
the river, thus competing with the Northern
Central for the trade hitherto almost exclusive-
ly controlled by that road.

The route of the projected New York, Pitts-
burg and Chicago Railroad is from Jersey City,
on the Central Railroad of New Jersey, to Tam-
anend, 130 miles west of New York, thence
through Pennsylvania to Wampum, on the Bea-
ver River, to which point the road is already
built, upon which cars will be running by April
1. A branch runs from Wampum to Pittsburg.
From Wampum west the road runs to New Lis-

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102

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AMEKICAN RAILBOAD JOITRNAI..

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bon, thence to Waynesbiirg and Sparta, Stark
county, and on through Tuscarawas, Holmes,
Knox, Richland and Marion counties to Marion,
O., where it will join the Chicago and Atlantic
Boad. The latter road runs from Marion to
Chice^o. I I ■]:■..

It is stated that should the North Shore Rail-
road of Long Island be abandoned a number
of New York merchants who live along the lines
propose to buy a controlling interest in it and
build a new road from Flushing to the East
River. A ferry will be established which will
connect with New York City at or near James
slip. I

Tmc line of the new branch of the ^Central
Railroad of New Jersey from Port Oram to No-
lan's Point on Lake Hopatcong, has been run
out and partly staked for the cross sections.
Work upon it will begin in a few days, and it is
expected that the branch will be completed at
the opening of navigation. The branch will
connect the Ogden Mine Railroad with the
main line.

The Pensacola and Atlantic Railroad, in Flor-
ida, was organized less than nine months ago,
and has now six milea railed and running out
from Pensacola and seventy miles graded. The
whole road will be finished in December next.
This road, it is claimed, will save 400 miles
travel from New Orleans to Jacksonville and
the same distance from all Gulf ports to the
Atlantic. I . i

The Long Island Railroad Company will
shortly commtnce the laying of a double track
on the Atlantic Avenue Division between Wood-
haven and Jamaica, and in the spring begin
the running of rapid transit trains from Flat-
bush avenue, Brooklyn, through to Jamaica.
The company are now having a route surveyed
for the extension of the Locust Valley branch
through the villages of Oyster Bay and Cold
Sprii^ for the extension of the road to Hunt-
ington. , ^

The surveys for the beach branch of the East-
em Railroad from Merrimack River to Ports-
mouth are being pushed forward in the hope
of completing the road for the pleasure season.

The Philadelphia and Reading Railroad Com-
pany are reported to have made arrangements
for extending their road from Shamokin to Dan-
ville, Penn., a distance of 17 miles. By this
route the company will ship coal direct from
the Shamokin and Schuylkill regions to all
points. The route from Danville will be by
the Catawissa to Williamsport and Jersey Shore
and other branches of the New York Central.
The new line will reduce the distance between
Shamokin and Williamsport some 50 miles.

The Mexican Government directors report
on the present conditioin of the works of the
Mexican National Conatrnction Company as
follows : Toluca Division — Track laid and
ready for operation, 18 kilometres; grading, in-
cluding track laid, 73 kilometres; Maravatio
Division— Grading concluded, 42 kilometres ;
tunnel excavation, 254 lineal feet. Morelia Di-
vision—Grading concluded eastward, 58 kilo-
metres; grading concluded westward, 20 kilo-
metres. This needs only track-laying, two
bridges and twenty-six culverts.

finished, 12 kilometres. Colima Division —
Grading finished, 31 kilometres. Laredo Di-
vision—Track laid and in operation, 40 kilome-
tres. Most of the employees in the company's
telegraph offices, they say, are Mexicans. They
report from 12,000 to 15,000 men at work on
he lines, which, they think, will be finished
by the time fixed in the laws and concessions
under which construction is going forward.

The Southern Maryland Railroad has been
graded as far as Esperanza, oppesite Solomon's
Island, a distance of 50 miles. The iron has
been laid from Brandywine to Mechanicsville,
St. Mary's county, a distance of 20 miles.

Peeliminary surveys are now being made of
th^Tucson and Gulf of California Railroad in
the interest of the Southern Pacific road. The
distance from Tucson to Lobos is about 175
miles, and the route is skirted on both sides by
rich mining districts.

General superintendent Towne of the Cen-
tral Pacific Railway says that the company in-
tends to proceed in the spring with construc-
tion on the route it has surveyed from Corinne,
Utah, to the Missouri River. The company
will complete the line between San Francisco
and New Orleans by August.

The Council of Ministers of Madrid, Spain,
has finally approved the plan for offering to
public competition about 600 miles of the pro-
posed Central Cuban Railway. Six months
after the close of the contract the railway will
get a State subsidy of $2,300 per kilometre.

During the year 1881 ten miles of the Kings-
ton and Pembroke Railway north of the Mis-
sissippi river were completed and the grading
of three additional miles well advanced. It is
the intention to have trains running to Clyde,
17 miles beyond the Mississippi by July 1.
A survey of the whole line to the junction with
the Canada Pacific Railway at Renfrew is being
vigorously prosecuted. The receipts of the
road for 1881 were $76,326 ; expenditure on
running account, $60,689.

The Mexican Central Railroad has been com-
pleted to Queretaro, 150 miles north of the
city of Mexico. Government engineers are
now out examining the new division, which
was to have been opened to traffic on the 15th
inst. The first installment— $250,000— of the
subvention certificates has been delivered to
the company, and $1,000,000 more will be hand-
ed over shortly. Hereafter six per cent of the
duties at all ports will be paid with the certif-
icates.

INCORPOBATION.

The Rochester and Ontario Belt Railroad
Company filed on the 2d inst. maps of the
proposed new road and articles of incorpora-
tion with the Clerk of Monroe county. The
company has a capital of $1,000,000 in shares
of $1'^0 each. The road is to be fifty miles
long from the Erie terminus in Rochester to
Lake Ontario, winding round the city. It is
designed to afford facilities for the existing and
projected lines and to transport coal and other
freight to the port of Charlotte, and also for pas-
Zacatecas I senger business. The directors are Henry A.
Division—TraQk laid, 20 kilometres; grading | Taylor, Donald McNaughton, and Mortimer

Wilkie, of Rochester, N. Y. ; Adolf M. Klemm,
of New York ; Jos. C. Tone, of Rochester ;
Christopher Meyer, Henry F. Shoemaker, John
Rheinlander Dillon, Jesse R. Grant, New York ;
John E. Coale, of Rutherford Park, N. J. ;
Francis A. Bassler, of New York ; Alvah W.
Burlingame and Frederick A. Wilkie, of Brook-
lyn. . . J

The Bodie and Benton Commercial Railway
Company has been incorporated for the pur-
pose of constructing a narrow-gauge railroad
from the south end of Mono Lake to a point
connecting with the Carson and Colorado Rail-
road near Benton, and for erecting and oper-
ating saw-mills and doing a general lumber and
wood business. The capital stock is $2,000,-
000, divided into 200,000 shares of $10 each.
R. N. Graves, A. J. Ralston, H. M. Yerington,
Thomas Menzies, William Willis, J. B. Low
and W. S. Wood are directors'. Eighty thou-
sand dollars have been subscribed, and William
Willis has been elected treasurer. The princi-
pal place of business is in San Francisco.

The Indianapolis, Eel River and Southwest-
em Railroad Company has been incorporated.
The capital stock is $2,000,000, and the road is
to run from Indianapolis, Ind., southwest
through the counties of Marion, Hendricks,
Morgan, Putnam, Clay, Owen, Greene, Sullivan
and Knox to Vincennes, 115 miles. The com-
pany reserves the right to construct branches
to adjacent coal fields. The officers are : Pow-
hattan D. Smith, Urbana, 111., president ; Allan
Heavenridge, Stitesville, Ind., vice-president ;
John J. Huffman, Poland, Ind., treasurer; Ho-
mer W. Ayres, Urbana, 111., secretary; William
Daggy, Greencastle, Ind., assistant secretary.

Articles of incorporation of the Nebraska
Central Railroad Company have been filed in
the office of the Secretary of State of Nebraska,
the object being the construction of a railroad
from a point on the south line of the State of
Nebraska, opposite the terminus of the Mis-
souri Pacific Railroad, at Talmage, Republican
county, Kan., and from thence in a northerly
direction to the city of Niobrara, Knox county,
Neb., passing through the counties of Nickols,
Clay, Hamilton, Merrick, Nance, Boone, Ante-
lope and Knox, with an estimated length of
200 miles. The capital stock is placed at $300,-
000 and is divided into shares of $100 each.
The incorporators are : D. W. Montgomery,
Thomas Fiches, J. Van Valen, J. Ritterbush,
G. D. Fullmer, E. L. Johnson, M. C. Long, C.
W. Gulick and F. P. Tibbetts. |

A CHABTER was issucd at Harrisburg, Penn.,
on the 8th inst. for the Pittsburg and Monon-
gahela Valley Railroad Company. The road
will be of standard gauge, and will extend from
the mouth of Saw Mill Run to Finlej'ville, in
Washington county, a distance of 15 miles.
The capital stock is $150,000. The directors
are : M. D. Hays, president ; H. T. Morris,
Josiah Reamer, James R. Redman, T. N. Mil.
ler, W. R. Stoughton, T. F. Best, Pittsburgh .
B. L. Crawford, Remington ; Norman May,
Alleghany. The road, which is to be pushed
forward rapidly to completion, will, besides
opening up rich coal fields, enable the Castle
Shannon and Keeling coal to be loaded directly
at the mines, instead of first having to pass

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AMERICAN RAILROAD JOURNAL.

103

over an inclined plane, and that those mines
will be placed in direct communication with
the lakes. The road will be one of the links of
the new lines to the coke regions.

The Mauch Chunk Democrat says that the
Virginia Coal and Iron Company, for the devel-
opment of mineral lands in Virginia, has been
incorporated with a capital of $1,500,000. Hon.
John Leisenring, of Mauch Chunk, Penn., is
the president.

The Bismarck, Mouse Kiver, Turtle Moun-
tain and Manitoba Railroad Company, with a
capital of $2,000,000, organized on the 13th
inst. by electing Hon. E. A. Williams president
and W. H. Jewell vice-president. The length
of the road will be 180 miles. Work will be
begun in April.

AccoKDiNG to the report of the Secretary of
Texas, prepared for transmission to the Legis-
lature, we learn that during the year 1881 twen-
ty-seven railway companies, with an aggregate
capital stock of $109,000,000, filed charters, and,
with but three or four exceptions, it is certain
that these railroads will be built.

A BILL was introdxiced into the Vii^nia Sen-
ate on the 10th inst. to incorporate the Alle-
ghany Extension Railroad Company ; the ob-
ject being to authorize the construction of a
railroad from any point beyond Lynchburg,
Va., on the line of the Richmond and Alleghany
Railroad, to the West Virginia line, and to
consolidate with any other railroad which would
form a connecting line with the Richmond and
Alleghany Railroad.

The Oley Valley and Lehigh Railroad Com-
pany has been chartered with a capital of $600,-
000. The object is construct a railroad 24
miles in length, from Birdsboro, Penn., toSeis-
holtzville, which will give, by connection with
the Wilmington and Northern Railroad, a di-
rect line from Wilmington, Del., to Catasau-
qua. Seisholtzville is a small village in the
northeastern corner of Berks county. The name,
•• Seisholtz," is Pennsylvania Dutch for " sweet
wood." -

Walter S. Drat, Samuel Rivers, W. H. Camp-
bell, J. H. Havighorst, Jr., and Judge Lyman
Lacey, of Havana, 111., Daniel W. Riner, of
Mason City, 111., and Norval Dixon, of Hoi den,
111., have been authorized by the Secretary of
State of Illinois to organize the McLean,
Havana and Quincy Railroad Company with a
capital of $1,000,000. The principal office will
be at Havana. The purpose of the company is
to construct a railroad from Leroy, McLean
county, terminating at Quincy, 111., with a
branch from Bloomington to connect with the
main line between Leroy and Havana.

The Walker Horseshoe Co., of Baltimore,
Md., has been incorporated with a capital of
$200,000. The directors are : Saml. G. B. Cook,
Wm. G. Atkinson, Oliver C. Zell, Clinton P.
Paine and Edgar G. Miller, of Baltimore, and
Jas. T. Walker, of Troy, N. Y. The officers
are Saml. G. B. Cook, president; Wm. G. At-
kinson, vice president; Oliver C. Zell, treas-
urer; Clinton P. Paine, secretary pro tern., and
Jas. T. Walker, general superintendent. The
Walker forged horseshoe used to be manufac-
tured at Troy, N. Y., in connection with the
Albany and Rensselaer Iron and Steel Co., and

A certificate of incorporation of the St.
Louis, Harrisbtirg and Ohio River Railway
Company was filed with the Secretarj- of State
of Dlinois on the 9th inst., by Asberry Wadell,
J. M. Mitchell, Robert Mick, W. M. Cheyely,
L. Lavender, J. F. Taylor, D. Herrod, C. O.
Lockwood, J. A. Lamed, E. P. Schlater and S.
H. Lamon, with a capital of $700,000. The
road is to be built from Harrisburg, Saline
county, to Mineral City, Hardin county, with a
lateral branch from the junction of the St.
Louis and Southeastern and Ohio and Missis-
sippi Railroads in Gallatin county to a point
within fifteen miles of Mineral City.

is well known throughout the country. The
company having purchased the patent from
Mr. Walker, the patentee, he has been prevailed
upon to assume the superintendency of the
works. The process of manufacture is differ-
ent from that of any other make, while the pro-
duct is said to be better adapted to the require-
ments of horseshoers and the trade than any
shoe hitherto offered. It has a well propor-
tioned web, a good thick heel, a clean crease
of proper width and depth, and the front shoes
are well concaved. The nail holes are punched
through at proper angles, and are free from
burs. The otitside edges are smooth, free from
bulge.s and rounded to prevent interference.
In addition, their smooth finish, freed(yn from
fins, scale or oil render them pleasing to the
eye and clean to handle. The company will
employ about 150 hands.

CONSOLIDATION.

Articles consolidating the three Indiana,
Illinois and Iowa railroad companies into the
Indiana, Illinois and Iowa Railroad Company,
with a capital of $14,000,000, were filed with
the Secretary of State of Illinois on the 8th
inst. The new board of directors is composed
of George H. Holt, Adam W. Speis, Albert S.
Comstock, Alfred Sully, Samuel Merrill, Joel
D. Harvey and Edwin Walker. These roads
lately passed under the control of the Chicago,
Milwaukee and St. Paul Railway Company.

The Zanesville and Southeastern and the
Bellaire and Southwestern Railroad companies
have been consolidated under the name of the
Bellaire, Zanesville and Cincinnati Railroad
Company. It is already completed from Bel-
laire to Woodsfield, Monroe county, and is
under contract from Woodsfield to Caldwell, in
Noble county. The stockholders on this end
of the road will build from here to Caldwell,
for which a great proportion of the money has
already been subscribed. > •

The Ohio Central and the Atlantic and North-
western Railroad companies have been consol-
idated under the name of the Ohio Central
Railroad Company. The directors are : Wil-
liam H. Barnum, Connecticut; Calvin S. Brice,
Lima, Ohio ; Dan P. Eells, Cleveland; Francis
O. French, and Samuel Shethar, New York ;
Thomas Ewing, Lancaster; Joseph H. Gray,
Boston; Joseph S. Miller, Wheeling ; George I.
Seney, Brooklyn; Samuel F. Thomas, Colum-
bus ; Charles E. Worthman and Henry C. Par-
son, Richmond. The capital stock will be
$35,000,000. A continuous line will be formed
from Toledo to the east line of West Virginia.

Coiled Wire Belting.

The Peri>etual Tension Propelling Belt Com-
pany, 328 and 330 Seventh avenue, report a
large and increasing demand for their coiled
wire belts, which for some time past have
attracted a great deal of attention from practi-
cal men especially interested in the important
subject of improvements in the transmission
of power. The belts, sash cord and patent door
springs manufactured by the company, who
are the sole manufacturers of Grears' patent
coiled wire belts, were awarded "Medals of
Excellence " at the recent American Institute
Fair. The striking peculiarities of these belts,
of which, over 300,000 are now in use, are their
not being affected by water, oil or temperature,
their remarkable utilization of power, their
durability and their maintenance of a perpetual
tension, from which their name arises. The
manner in which these results are obtained are
stated by the manufacturers as follows :

First. — To correct a wrong impression and
answer a very common question, we say we do
not create power.

Second — But that we do utilize a third higher
degree of the power expended is certain, from
the fact that our belts have better adhesion
than other belts, which is accounted for by
reason of that part of the coil presented next
to the pulley being partiaUy or whoUy closed,
and in coming in contact with a lai^e semi-
circle frietional surface ; and also by reason of
the construction of the coil, and its being
slightly stretched when in use, by which a per-
petual tension is obtained and maintained, thus
preventing the loss occasioned by the slipping
of belts.

Third — That we accomplish more with a
given^power, than heretofore, is true, from the
fact that our belts continually rotate at right
angles to their line of motion, thus moving
through the natural atmosphere as a ball from
a rifled barrel passes through the air w^ith in-
creased force over that of one projected from a
smooth bore ; and because, though it may be
as tight or even tighter when at rest than ordi-
nary belts, when in motion is flexible and yield-
ing, and compensates for varying resistance,
thus turning mandrels in their bearings with
less friction ; and also for the reason that the
drawing part of this belt becomes extended,
while passing round the pulleys, until it passes
a certain point, then it contracts, paying back,
as it were, the power expended in extending it,
which is not the case with other belts. The
weight of this belt assists it maintaining mo-
mentum and like the balance wheel is beneficial
in practice though somewhat ant^onistic to
theory.

Fourth — This belt is more durable than other
belts, because it is made of a material very
much harder than that which belts are usually
made of, and because it is worn evenly by rea-
son of its rotating at right angles to the line of
its motion ; and also because the peculiar con-
struction admits of its more readily forming

itself to the pulleys, especially when moving
rapidly while passing around the same. The
wearing and stniin on the wire, by reason of its
construction, in forming itself by the circum-
ference of the pulleys, being coiled, is other
than that of bending a piece of wire, or a rope
formed of wire.

?.>Aim^\^.^^d'^ .'^ --'■^^XtmiCi^ *t£W'J''-

T^gffimpr^fMijmii , u.i . Jijji,j|ij,ii_i ji i, n- p«»i*i.'* ■ .

104

AMERICAN RAILROAD JOURNAL.

92,'4 933^ 93

92 92

New^ York Stock Bxchange.

(Thursday's quotations fallow money article.)
Closing Prices Jor the week ending Feb. 15.

Th.9. F.IO^ Sat.ll .M.13.Tu.W.W.15.
Adams Express , 148

^bany and Susq I

lat mortgage 128 . . . j

2d mortgage

American Express..

■Atlantic k Pac. Tel.

Burl.. C. R. A:Nor..
lst*mortgage Ss..

Canada Southern ..
1st mortgage guar

Central of N. Jersey

1st mort. 1890

78, consol. ass. . .
78, convertible asa

78, Income

Adjustment

Central Pacific 91 >i

68, gold

Ist M. (San Joaq) I 110

100

53
Mi!

96,'
113?^

51%
95

96)^
115:^

94^

96 '4

51%
95 >i

51?^
94 3i
93^

99 >i

49K
94

923^

131 i^ 130% im% 130 >^ 130% 130
103 >i 103^

134 133X

108
115>^

108

115

lUii

oi?i

114^

107^ 107
91 »^ 91

1H?«

107

90,J^

106 Ji
114

109

133

• t

24^

135 >i

24 'i
82
135 >,'

24 »4

82 '4

23 *g
82
138

22 >i
128 >i

l8t M. (Cal. & Or.)
Land grant 6s . . . 105 ?i
Chesapeake & Ohio. 24 »^
Ist, series B 81%

Chicago and Alton. 135

Preferred .^ '.

1st mortgage \

Sinking Fund ;

Chi,, Bur. & Quincy l35Ji 135>4 135>i 135% 135>a^ 134

7s, Consol. 1903 \ 126%

Chi., Mil. & St. Paul 109% 109% 109*4 108% lOM^i 107^

39%

34%
73%

31%

38%
75%
98%

33%

72%

31%

41%

122% 121'

Preferred 121%

1st mortgage, 88 .\

2d mort., 7 3-lOs ....j

78, gold

Ist M. (La. C. div) I

Ist M. L & M. div.) .;

Ist.M. (L & D. ext.) \ 116%

let M. (H.&D. div.) , 114

l8tM.(C. & M.div.) '

Consolidated S. F 121 121

116%

114

118

Chi. & Northwestern 135% 134>^ 133% 133% 133% 133%
.... 144 144%; 143% 142% 142 142

Preferred

Ist mortgage i

Sinking Fund 68 1

Consolidated 78

Consol. Gold bo"ds 126 ! 126

Do. reg j

132% 132% 132

132
126

79% 78% 77%

Chi., R. Isl. & Pac. 133 '.i 13:1

68. 1917, c

Clev.,Col.,Cin.&Ind. 80 J^

Ist mortgage —

Clev.& Pittsburg gr

78, Consolidated

4th mortgage

Col.,Chi.,&Ind.Cent. 18% 14%

1st mortgage 1 130

2d mortgage :

Del. & Hud Canal. 108% 108%' 108 ^i 108, 108

Reg. 7s, 1891

Reg.7s.l884

78, 1894 i

11 'i 10

9% 10
130

107%

126% 125% 125% 125%

130%

96%
108

96^
107%
110

105

95% 95%
106% 106%

107%

94%
105%
198%

Del.,Lack.& Western 127% 126%

2d mortgage 7s

78, Consol. 1907

Erie Railway

1st mortgage

2d mort. 5s, ext

3d mortgage

4th mort. 5s. ext

5th mortgage

78, Consol. gold.. 130%

Great West. Ist mort

2d mortgage

Hannibal & St. Jo.. 97

Preferred 109%

88. Convertible

Houston & Tex. Cen

Ist mortgage

2d mortgage

Illinois Central . . . 136%

LakeShore&MichSo 111%

Consol. 78

Consol. 78, reg

2d Consolidated.. 126
Leh. &W. B. 7s, Con

Long Dock bonds 1.

Louisville & Nash. 93% 91% .90 89%

78, Consolidated . 122

Manhattan 55% 58 69 59

Ist pref 95% ,

5f»t. Elevated 90 90 90 89%

lat mortgage 100% 100% 100% 100% 100% 100%

Jfichigan Central.. 86% 86% 86% 86% 86% 86%
78. 1902

N.V.Oen. &Hud.

68. 8. F. 1883

68, S. F., 1887

1st mortgage 134

Ist mortgage, reg

N. Y. Elevated 108

1st mortgage 116%

N.Y.& Harlem

Preferred

1st mortgage

Ist mortgage, reg

N. Y., Lake Erie &W 39% 39% 39?^ 39%

Preferred 79% 79 78% 76%

2d Consolidated.. 99% 98% 98% 98%

New 2d 58 fund 95>4

N.Y..N.Hav'n&Hart 170

North Mo. Ist mort

Northern Pacific 35 35 H 35%

Prelen-ed 73% 73% 73% 73%

Ohio & Mississippi. 33% 34% 33% 33%

Pretnr ed 100

2d mortgage

Consolidated 78

Consol. 8. Fund 118%

Pacific Mail S. S. Co 44% 43% 43% 43% 42%

Pacific R. R. of Mo

1st mortgage 106% 106

2d mortgage HI

Panama 1 80

Phila. & Reading.. 63% 53 63 62% 62% 6i%

Pitts,Ft.W.&Chi.gtd 134

Ist mortgage 137

2d mortgage

3d mortgage

Pullman Palace Car 140% 140 138% 137 136% 135

QuicksU'r Min'g Co 13* 12%

Preferred

St. Louis & San Fran 43 42 >^ 42 41

Preferred 68 60 59 67

1st Preferred 95 94 95%

St. L.. Alt'n & T. H

Preferred 83

Ist mortgage

2d mort. prof 105

Income bonds

St. L., Iron Mt. &8

Ist mortgage

2d mortgage 109%

Toledo and Wabash*

1st mortgage

2d mortgage 106 , 106%

78, Consolidated 102

St. Louis DS^ision

Union Pacific 119 118% 118?^ 117% 117 5^ 117

Ist mortgage 116% 116% 117 117%

Land Grant 78 115

Sinking Fund 88. 122% 122%

United States Ex 78% 75% 75 76

Wabash, St. L.& Pac 36% 36% 36% 36 34% 31%

Preferred 67% 66% 66 ii 61 61% 58%

New mort. 7s 103

60
39%
56
91

Wells-Fargo Ex 126

Western Pacific b'ds 110

Western Union Tel. 81% 81% 81%

128
110%
81%

126%

136 «^i

111%
130

126%

135%
111%

w • • • ■

133%xl32% 131%
111% 111% 110%

88% 87%

7s.,8.Fconv.,1900 118

Fedebal, Stocks : —

U. S, 4s. 1907, reg

U. S. 48, 1907, coup 118% 118% 118

U. S. 4%8, 1891, reg 113%

U. S. 4%s, 1891, coup 111%

U. S. 5s, 1881, reg

U. S. 68, cont'd at3% 102% 102%

U. S. 6s cont'd at3%

Dt. of Col. 3-658, reg

Dt. ofCol.3-658,coup

80% 80

117%
113%

102%

67%
96

126 126

125

Morns & Essex.... 122 122%

Ist mortgage 134

2d mortgage

7«of 1871

78, Convertible

7m, Consoliuated .

121%

120%

Boston Stock Exchange.

Frica for the Week Ending Feb. 15.

i I Th.9. F. 10.Sat.ll.M.13.Tu.l4.W. 15.

Atch.,Top.i:San.Fe. 87% 87% 86% 85% 85% 84%

Ist mortgage 119 118

2d mortgage

Land Grant 7s 115

Boston & Aibany 168% 167% 167% 167%

7s reg

Boston and Lowell 103 103

Boston & Maine 145%

Boston& Providence

Bos'n,Hart.& Erie78 61% 68% 67% 66% 66% 64%

Burl.& Mo.R.L.G.78

Burl.t Mo.R.inNeb

68, erxempt

Chi..Burl.& Quincy 135% 135% 135% 135% 135^^.
7s

Cin.,Sand&Clev($50) 26

Concord ($50) 100 100%

Connecticut River 165

Eastern i 34 33% 33%

New 4% Bonds 108% 108 S

.#*.. iFitchburg i:J5%

25% 25% 24%

34% 33%

108% 108% 109

135 136 135

N..Y& New England 55
78 116%

Northern N. H

Norwich&Worcester

Ogden & Lake Cham

Preferred

53%

61
117

62 61
116% 116%

108

Old Colony 125 126 126 125% 126

Ph.,Wil.&Balt.($60). 64

Portl'd.Saco & Ports 113%

Pueblo &• Ark Val

7s 115 .

Pullman Palace Car 141 139% 137

Union Pacific 119% 119% 119 118% 117% 117

68 116

LandGrant78 112%

Sinking Fund 8s .

Vermont & Canada

Vermont & Mass

Worcester & Nashua 59

Cambridge (Horse) 120

Metropolitan(Hor8e) 76% 76% 74%

Middlesex (Horse)

Cal.&HeclaMiu'gCo 230 229 231 230 230

Quincy 40 41 40% 40

Philadelphia Stock Exchange.

Closing Prices for the Week Ending Feb. 14.

W.8. Th.9. F. 10. Sat.ll. M13. Tu.l4.

Allegh'y Val. 7 3-108 121

7b, Income 66

Camd'n & Am. 6s, '83

68,1889

Mort. 6s, 1889 114

Camden & Atlantic

Preferred 40

1st mortgage

2d mortgage '.

Catawissa 17% 18

Preferred 55

7s, new

Del. & Bound Brook 130

Elmira&Williamsp't

Preferred

Hunt. & B. Top Mt. 14

Preferred 27%

2d mortgage

Lehigh Navigation . 43%

13%

27%

27% 27

43%

43% 44

62
123%

122

35%
74

61%

Gold Loan 111%

Railroad Loan 117

Conv. Gold Loan

Consol. Mort. 78 116%

Lehigh Valley 62% 62 62 62

Ist mort. 68, coup 122%

1st mort. 68. reg .. 122 122% 122

2d mort. 7s

Consol mort. 68

Con8ol.mtg.68,reg 121

Little'^'SchuylkiU 68 67

Minehill&Sch.Hav'n

North Pennsylvania 64 64

Ist mortgage 68.. 106

2d mortgage 7s 119

Qenl. mtg.78,coup

Genl. mtg. 78, reg 123

Northern Central.. 60% 60

Northern Pacific... 34% 34% 35%
Preferred 73 73% 73%

Pennsylvania R. R. 61% 61% 61%

Ist mortgage

Uen'l mort

Gen'l mort reg

Consol. mort. 68

Consol. mort. reg 118

Pa.State 68 2d series

do 3d series

do 58, new 116 117

do 38,

Phila. & Reading... 31% 31% 31% 31% 31%

Ist mortgage 6s 119%

7sofl893 121 120%

78, new convert 75

Consol. mort. 7s.. 125 120

Consol. mort. reg 125

Gen'l mort. 6s 99% 96% 96% 97%

Philadelphia & Erie 16 17 17 17 17

1st mortgage 58

2d mortgage 78 114

Pittsb.,Cin.&8t.L.7B

Pitts.,Titu8v.&Buff.
78

Schuylkill Navi't'n.

Preferred

68, 1872

68. 1882

43% 43%

...'. iri *

60 60%

97% 97%

35% 34%

73% 73%

61% 61

116%
31%

96%
16

18% 18%

18%
95

18%

18%
95%

United Co. of N. J..
Hestonville, (Horse)
CheBtnut&Wal.(do).
I'lreeu & Coates(do).

^ ^l^-^--^.ij^.£,- 'm^\^.'.

12%

93 ..... 93 93 ' '.'.'..'. '93"
186% 1^6% 186% 186% 186%

tidA-Ai.a£^..

.f--

•r-r. '

AMERICAN RAILROAD JOURNAL.

105

Baltimore Stock Exchange.

Closing Prices ftr the Week Ending Feb. 14.

W. 8. Th.9. F.IO. Sat.ll. M.13.Tu.l4.

Baltimore & Ohio

68,1880

6s, 1885

Central Ohio ($50)

1st mortgage 110>i 110>i

Marietta & Cincin'ti

Ist mortgage. 7s 125^ 126^ 125)^ 125

2d mortgage. 78.. 105 >i 106 105>i 105>^ 105

3d mortgage, 88.. 58^4 58^^ 58 57 56 >^

Northern Cen. ($50) 60^

2d mort., 69 1885 105 >i

3d mort.. 6s, 1900

63. 1900. gold 11*

6s, 1904, gold 112

Orange & Alex. 1st

2d mortgage, 6s

3d mortgage, 8s

4th mortgage, 8s

0.,Alex.4:Mana8's 7s

Pitts. & ConneU8V.78 121 121

Virginia 6s, Consol. 62'^ 61% 61% 61 62 61

Consol. coupons. . 63 14 643^ 63>^

10-40 bonds 40 40 39

Def d Certificates 15)^ 15

Western Maryland

1st M.,end.by Bait

2dM., do

3dM., do

lstM.,nnendor8'd

2dM.,end.WashCo

2d M., preferred 105.*^ IqS^^

City Passenger RR. 41 41

liOndon Stock Exchange.

Baltimore & Ohio (sterling) 114

Do. Adjustment Bonds 104

Do. Income Bonds 104

Det.,G'd Haven & Mil. Equip bd8ll2
Do.Con.M.5p.c.,till'83attr6p.cllO

Illinois Central #100 shares 135 >i

Lehigh Valley Cons, mortgage.. 115

Louisville & Nashville mort 6s. 105
Do. Sink. Fundbds(S.&N.Ala)102
Do. capital stock $100 shares. 97

N. Y. Cent, k Hud. R. mt. bds. .134

Do. $100 shares 136%

Do mort. bonds (stg.) 123

N.Y..Lake Erie & West., $100 shs 42 >^
Do. 6 p. c. pref. $100 shares . . 87
Do. Ist Con. Mort. bds (Erie) .131
Do. do. Funded Coupon bds. 127
Do. 2d Consol Mort. bonds. . .101
Do. do. Funded Coupon bds. . 97
Do. Gold Income bonds 93

N.Y.,Pa.& Ohio 1st mort. bonds. 47
Do. Prior Lien bds (sterling).. 104

Pennsylvania, $50 shares 63

Do. Con. Sink Fund Mort 116

Philadelphia & Reading $50 shs 33 ^4'

General Consol Mortgage 116

Do. Improvement Mortgage. .103
Do.G«n.Mtg.'74,ex-dofdcoup. 99
Do. Scrip for the 6 def. % coup. 92

Pittsb. , Ft. W. & Chi. Eq. bds.. . . 105

St. L. Bridge 1st mort. gold b'd.l26
Do. 1st pref. stock 102

Union Pa. Land Grant 1st. mtg.115

Wabash, St. L. & P. $100 shs 36

Do. $100 pref. shares 79

Do. gen. mort. bonds 91

Closing

Jan. 13.
116
109
107
114
112
136 >i
119
107
104

99
137
12,1%
125

42%

89
13J
129
103
100

48
108

64
118

33%
118
105
101

97
109
128
104
119

Prices .

Jan. 20.
114 116

104
104
112
110

109
107
114
112

138>i 139^
115 119

105

102

134

107
104
101
137

137 >i 138 >i
120 122
42% 43 Ji^
84 86

131

127

101

104

133
129
103
100
95
48
108

63 >i 64 >i
116 118

30% 31 )i
116 118

103
100

92
105
126
102
115

105
102

97
109
128
104
119

70>i 71 >^
91 93

AMERICAN .RAIIiROAD JOURNAIj.

Financial and Commercial Review.

Thursday Evening, Feb. 16, 1882.

The quotation for call loans during the day,
with stocks and collaterals, was 5@6 per cent,
and on United States bonds Z@^ per cent.
Prime mercantile paper was 5@,6 per cent. At
the close the rate for call loan« to the stock-
holders fell to 3 per cent.

The details of the plan of reorganizaiion of
the Marietta and Cincinnati Railroad Company,
as finally adopted, are given in the weekly cir-

cular of Messrs. John A. Hambleton & Co., of
Baltimore. The principal remains as before
published, the only changes being in the ag-
gregating of some of the totals. The first
mortgage bonds of the new or consolidated
company will amount to $7, 185,000 at 4J per
cent guaranteed interest, except for $1,250,000,
which is to go into six per cent bonds for the
stock of the Cincinnati and Baltimore Railway
Company. The total of the new second mort-
gage is $3,040,000; total third mortgage, $2,-
270,000. , Total first income bonds, $3,410,000 ;
second incomes, $4,000,000. Holders of bonds
on depositing them will be assessed to meet re-
organization expenses. First preferred stock
gets the same class of security in the new com-
pany, and for a $2.50 assessment per share will
receive first incomes. Second preferred is
similarly dealt with on an assessment of $1 50.
Common stock goes into new common, and for
$1 assessment receives equivalent in first in-
comes. For unpaid fourth mortgage coupons
and all other claims of the Baltimore and Ohio
Railroad Company, amounting to $6,038,000, it
receives one-half in preferred and one-half
common stock. The Farmers' Loan and Trust
Company of New York will act as trustees under
this plan.

The annual report of the directors of the
Philadelphia and Erie Railroad Company
shows that the total revenue for the year 1881
was, $3,454,309.05, the operating expenses $2,-
430,060.30, and the net earnings, $1,024,248.75,
from which extraordinary operating expenses
for construction of tracks, sidings, shops, &c.,
amounting to $135,278.49, are deducted, mak-
ing the actual net earnings $888,970.26. To
the latter sum is added net receipts from rents,
$4,835.18, making a total net revenue of $893,-
805.44. From this are deducted chaises for
maintaining the organization, interest on
equipment, and drawbacks to the Alleghany
Valley Railroad, amounting to $211,055.53,
leaving a balance of $682,749.91. The interest
paid on the funding debt was $1,077,995, leav-
ing a deficit for the year of $395,245.09. The
report states that although the tonage increased
from 2,810,466 tons in 1879 to 5,277,056 tons in
1881, or almost 90 per cent, the gross earnings
for the same period have increased only 18 per
cent, owing to the steady reduction in rates.

The net earnings of the Indianapolis Belt
Railroad Company for the past year, as report-
ed by the secretary, were in round numbers
$140,000, of which $80,000 came from the
stockyards. There is no floating debt, a bond-
ed debt of $1,000,000, surplus $75,000, besides
5 per cent semi-annual dividends. The actual
cash expended in construction, $1,056,000.
Among the improvements ordered was a $50,-
000 pork-house, to be leased out, and the ex-
tension of the Belt Company to the Wabash,
St. Louis and Pacific Railway. ■.

The Massachusetts State Auditor reports that
the cost to that State of the Southern Vermont
Railroad to December 31, 1881, was $417,500,
and that it has received from it in rents, $235,-
139, leaving the net cost at $182,361. Of the
income $224,806 has been placed to the credit
of the Troy and Greenfield Railroad loan and
$10,332 to the credit of the sinking fund of
that loan.

A financial exhibit was presented by the
Mayor to the City Council of Charleston, S. C,
on the 14th inst. showing a reduction of the
total municipal debt in the last ten years from
$5,250,000 to $4,250,000, and a reduction of the
annual interest from $315,000 to $185,000.

The formal transfer of the Jersey Shore, Pine
Creek and Buffalo Railroad from the control of
the Philadelphia and Reading Railroad Com-
pany to that of the New York Central and
Hudson River Railroad Company took place on
the 9th inst.

A mortgage for $15,000,000 was filed on the
13th inst., by a representative of the New
York, Chicago and St. Louis Railroad Co.,
with the Recorder of each county through
which that that road runs. The bonds, which
bear 6 per cent interest, are payable December
1, 1921. Both principal and interest are pay-
able in gold coin. This is the first debt of the
company that has been recorded — all the
money hitherto required for right of way,
grading and construction having been supplied
by the stockholders. The proceeds of the
above mortgage are to be applied towards ob-
taining farther terminal facilities, construct-
ing depots, and supplying the road with the
necessary equipment.

At a meeting of the stockholders of the Pe-
tersburg Railroad Company held at Petersburg,
Va., on the 6th inst., the exchange of old sec-
ond mortgage 8 per cent bonds of the com-
pany, amounting to about $490,000, for new
issue 6 per cent bonds was perfected on satis-
factory terms.

The only obligations of the State of Illinois
now outstanding are about $20,000 of bonds,
which have been called in but have not yet
been presented for payment. The money is in
the Treasury to pay them whenever they may
be presented, and in the meantime they have
ceased to draw interest.

At the annual meeting of the stockholders
of the Boston and Albany Railroad Company
on the 8th inst., it was voted to amend the by-
laws so that transfer books shall be closed 30
instead of 15 days before the declaration of a
dividend. ' ;

The Secretary of the Treasury issued on the
8th inst, the 108th call for the redemption of
bonds. The call is for $20,000,000 of con-
tinued sixes, the principal and accrued interest
of which will be paid on the 8th of April next,
after which date interest Mvill cease. The bonds
are designated as follows : registered bonds of
the acts of July 17 and August 5, 1861, contin-
ued during the pleasure of the Government
under the term of Circular No. 42, April 11,
1881 : to bear interest at the rate of three and
one-half per centum per annum from July 1,
1881, $50, Nos. 1,951 to 2,150, both inclusive ;
$100, Nos. 13,701 to 14,700, both inclusive;
$500, Nos. 10,001 to 10,700, both inclusive;
$1,000, Nos. 49,901 to 51,600, both inclusive ;
$5,000, Nos. 16,151 to 16,850, both inclusive ;
$10,000, Nos. 32,551 to 34,950, both inclusive.
Total, $20,000,000. Many of the bonds origi-
nally included in the above numbers have been
transferred and cancelled, leaving outstanding
the amount above stated.

The gross earnings of the Buffalo, Pittsburg
and Western Railroad Company for the year

:' *^vt./...> .,' ..'^

k^^A^.^^

*" .7»,+M%i!""*i^.V»'SW

106

vrvfTW^f'

^T'.t '

-latwj^V /It!" ;•'■"'• yj.'ill'** ' 4 ►•"■ .» ^^T •~'^,~.'*v'aTOl ■'7S!r-'J?T

AMERICAN RAILROAD JOURNAL.

1881, were $598,968.43, the expenses $354,275.-
67, and the net earnings $244,692.76 ; to which
are added *' credit to the balance of interest ac-
count received in cash balance of reserve fund,
the difference between values of securities re-
ceived under the merger and cost of the Titus-
ville and Oil Creek railroads, from which are
deducted interest on bonds of the Union and
Titusville, Warner and Franklin, Oil Creek,
Buffalo, Chautauqua Lake and Pittsburg, and
premiums on conversions of bonds, giving bal-
ance to the credit of protht and loss at the end
of the year of $29,632.17*" ! I

The taxpayers of Smithtown, Long Island,
have decided that the bonds given by the town
to assist the Long Island Railroad Company to
build their road through the town were > made
in good faith, and should be paid in full, unless
some arrangement can be made by whi(^ the
interest, which is now seven per cent, can be
reduced.

The stockholders of the Danbury and Nor-
walk Railroad Company have voted unanimous-
ly to accept the amendment to their charter
authorizing the extension of the road to the
JSouiid ; also to accept the resolution passed at
the'present session of the Legislature authori-
zing the issue of $100,000 of bonds for the pur-
pose of paying for, in part, the cost of such ex-
tension. The President of the road was au-
thorized to sign the moitgage to secure such
bonds. . ! ^ I

In the case of the Hannibal and St. Joseph
Railroad Co. vs. the State of Missouri, in which
application was made for an injunction re-
straining the Governor from selling the road
for alleged default in the payment of interest
on certain bonds. Justice Miiler, of St. Louis,
decided in favor of the State, but advised both
parties to get together and settle the matter
amicably.

The Supreme Court of Tennessee has de-
cided the recent act of the Legislature to settle
the State debt at par and three per cent inter-
est to be constitutional — holding that the Leg-
islature had no power to make the coupons on
said bonds receivable for taxes for 99 years.
Application has been made to have the fund-
ing proceed with ordinary coupons.

Ground was broken on the 15th inst. at Mo-
jave, on that section of the Atlantic and Pacific
Riiilroad to be built by the Southern Pacific
Company, from Mojave to Needles, on the Col-
orado River.

The closing quotations on Thursday were :
Adams Express, 145@,147; American Express,
90@92 ; Chicago, Burlington and Quincy, 133^
@,134^ ; Canada Southern, 50i@50^; Chicago
and Northwestern, 133i@133J;do. pref., 142^®
143 ; Chicago and Alton, 128J@129 ; Central
of New Jersey, 92@92i; Central Pacific, 90J@
90|; Chicago, Milwaukee and St. Paul, 108@
10«i ; do. pret, — @122J ; Columbus, Chicago
and Indiana Central, 10|@10^ ; Delaware and
Hudson Canal, 106|@107 ; Delaware, Lacka-
wanna and Western, 125J@125J ; Hannibal and
St. Joseph, 93|@94 ; do. pref., 90@— ; Illi-
nois Central, 132@133 ; Lake Erie and West-
em, 29J@29J ; Lake Shore and Michigan
Southern, 111@111| ; Metropolitan Elevated,
86i@88^ ; ilanhattan Elevated, 57®57J ; do.
1st pref., 94@95J ; Michigan Central, 85|0

85 J; New York Elevated, 105@107i; New York,
Lake Erie and Western, 39@39J ; do. pref.,
^6@76^ ; New York Central and Hudson River,
130J@130| ; Northern Pacific, 34@34i ; do.
pref,, 13(a)/73^ ; Ohio and ilississippi, 31|@
32; Pacific Mail, 41i@41|; Texas and Pacific,
43J@43| i Union Pacific, 117i@117| ; United
States Express, 75@76; Western Union Tele-
graph, 80i@80| ; Wabash, St. Louis and Pacific,
32|@32J; do. pref., 59^@59| ; Wells-Fargo Ex-
press, 123@129.

The following quotations of sales of railway
and other securities, for the week, are in addi-
tion to those given elsewhere in our columns:

New York. — Atchison, Colorado and Pacific
1st, 97 ; Belleville and Southern Illinois 1st,
123 ; Boston and New York Air Line pref., 68 J;
Chicago and Northwestern S. F. 5s, 101 J^; Cairo
and Fulton 1st, 107^ ; Chesapeake and Ohio
Istpref., 33^; do. 2d pre!., 23 ; do. cur. int.,
50; Chicago, St. Paul, Minneapolis and Omaha,
34}; do. pref., 100 ; do. consol., 100}, Cedar
Fallsfand Minn., 16 ; Columbia and Greenville
pref., 93 ; do. 1st, 105; Central Iowa 34^ ; Chi-
cago, St. Louis and New Orleans, 81 ; Colum-
bus, Chicago and Indiana Central Inc., 57; do.
1st Trust Co. certif. ass. sup., 119 ; Chicago,
Milwaukee and St. Paul Chicago and Pacific
div., 1st, 107; do.^S. M. div. 1st, 103^ ; Chici\go,
Burlington and Quincy 8s, 103A ; Cleveland and
Toledo S. F., 107^ ; Chicago and Milwaukee
1st, 119 ; Duluth and Sioux City, 79 ; Denver
and Rio Grande 67 1 ; do. 1st, 113; do. Ist consol.,
103^ ; East Tennessee, Virginia and Georgia,
13^ ; do. pref., 21^; do. inc., 54 ; do. 1st, 115;
do. 5s, 77 ; Evansville, Henderson and Nash-
ville 1st, 102^ ; Evansville and Terre Haute
1st, 96 ; Green Bay, Winona and St. Peter
8; do. 1st, 90^ ; Gralveston, Harrisburg and San
Antonio 2d, 109 ; Gulf, Colorado and Santa
Ee 1st, 106} ; Hudson River R. R. 2d S. F.,
IIOJ ; Houston and Texas Central 1st, Western
div., ia7} ; Hannibal and Central Mo. 1st, 108;
Hannibal and St. Joseph 6s, consol., 109^ ;
Indiana, Bloomington and Western, 41; do. 1st,
89 ; Indianapolis, Decatur and Springfield 1st,
104 ; International coup. 6s, 90 ; Kansas Pacific
Ist consol., 102^; do. 68, Denver div. ass., 108^;
Keoknk and Des Moines 1st, 105| ; Lafayette,
Bloomington and Muncie 1st, 106; Louisville
and Nashville Gen'l mort., 6s. 96 ; do. 2d, 103;
Long Island, 51 ; Lake Erie and Western, 30;
do. inc., 51 ; Louisville, New Albany and Chi-
cago, 70J; do. 1st, 102 ; do. consol., 123 ; Le-
high and Wilkesbarre Inc., 90 J ; Manhattan
Beach, 29 ; Marietta and Cincinnati Ist pref.,
13 J; do. 2d pref., 7 ; Mobile and Ohio, 28 ; do.
1st debeb., 92; do. Ist, 112^ ; Missouri, Kansas
andTeras, 32| ; do. consol., 103^ ; do. 2d, 67;
do. gen'l mort. 68, 78 ; Missouri Pacific, 101^;
do. Ist consol. 101 ; do. 3d, 112 ; Memphis
and Charleston, 67} ; Milwaukee, Lake Shore
and Western, 46 ; do. inc., 76 ; Minneapolis
and St. Louis 1st, 115 ; do. 1st, Iowa Ext.,
11 1^ ; Michigan Central 58, 97 ; Metropolitan
Elevated 2d, 90^ ; Michigan Southern S. F., 108;
Northern Pacific Ist, 97 ; New York, Penn.
and Ohio inc., 42 J ; Nashville, Chattanooga and
St. Louis, 74; do. Ist, 115} ; New York, Ontario
and Western, 25 ; Norfolk and Western pref.,
54 J; do. Gen'l mort., 103 ; New Jersey R. R.
and Transp. Co., 185 ; New Orleans Pacific Ist,

91 ; New York City and Northern Gen'l mort.,
80 ; Ohio Central, 18.i ; do. inc., 38 J ; do. 1st,
90|; Oregon Railway and Nav., 134 ; do. 1st,
107 ; Oregon Transp., 69^ ; Ohio Southern, 18;
do. 1st, 90 ; Peoria, Decatiar and Evansville,
29|; do. inc., 41|; Rochester and Pittsburg.
29^; do. inc., 41 1 ; Richmond and Allegany,
29^; do. 1st, 93 ; Richmond and Danville, 222 ;
do. W. P., 261^ ; do. 68, 106^ ; Rome, Water-
town and Ogdensburg, 20 ; do. consol. 91 ; St.
St. Louis, Alton and Terre Haute dividend
bonds, 50^ ; St. Louis and San Francisco 2d,
Class B, 89^; do. C, 88 t Scioto Valley 1st, 102;
St. Paul and Duluth, 26 ; do. pref., 71 ; St.
Paul, Minneapolis and Manitoba, 106 ;do. 1st,
109 ; do. 2d, 105^ ; do. 1st, Dakota Ext., 106 ;
St. Louis, Iron Mountain and Southern, Ar-
kansas Branch 1st, 108 ; do. Cairo, Arkansas
and Texas 1st, 108^ ; Southern Pacific of Cal-
ifornia Ist, 104}; St. Paul and Sioux City 1st,
112^ ; Toledo Delphos and Burlington, 10^ ;
do. inc., 20 ; Texas and Pacific, 43} ; do. inc.
L. G., 64 ; do. 1st, 108^ ; do. Rio Grande div.
1st, 80 ; Toledo, Peoria and Western 1st, 111 ;
Utah Southern Gen'l mort. 7s, 106^ ; Wabash,
St. Louis and Pacific Gen'l mort. 68, 85^ ; do.
do. Chicago div. Is, 86 ; do. Iowa div. 1st, 92 :
Winona and St. Peter 1st, 109} ; Arkansas 6s,
fund.. 32 ; Alabama, Class A, 80 J ; do. C, 85;
Missouri 6s, 1888, 109^ ; do. 6s, H. & St. J.
issue, 102 ; Louisiana consol. 7s, 66^ ; Ten-
nessee 6s, old, 53 ; do. new, 53 ; Virginia 6s,
def., 14; Am. Dist. Tel., 47 ; Colorado Coal and
Iron, 41; do. 6s, 86; Consol. Cofil, 31; Maryland
Coal, 18 J; New Central Coal, 17 ; Sutro Tunnel,

I ; Caribou, 2 ; Central, 1^; Little Pittsburg,

II ; Robinson, 2|; Standard, 17.
Philadelphia. -Am. S. S. Co. 6s, 107i ; Belvi-

dere Delaware 3d, 105 ; Central Transporta-
tion, 36 ; Huntingdon and Broad Top Mt. con-
sol. 58, 89; Morris Canal, pref., 169 ; Nesqueh-
cning Valley, 57^ ; New Orleans Pacific 6s,
91} ; Philadelphia and Reading scrip, 84 ; Phil-
adelphia City 6s, old, 1883, lOli ; do. 1889, 112;
do. 1890, 113^ ; do. 1892, 114^; do. 6s, new,
1889, 119 ; do. 1895, 126 ; do. 1898, 126; do.
1902, 130 ; do. 48, 112 ; Philadelphia, German-
town and Norristown, 106J ; Pennsylvania Co.
4^8, 98 ; Susquehanna Canal pref. 68, 75; Steu-
benville and Indiana 9s, A. &.O., 104 ; St. Paul
and Duluth pref., 70 ; Sunbury, Hazleton and
Wilkesbarre 1st, 5s, 95 ; Texas and Pacific 1st,
107 ; West Jersey and Atlantic 6s, 111^. The
latest quotations are : City 6s, 118@118 ; do.
free of tax, 125(^130 ; do. 48, new, 102@113;
Pennsylvania State 68, 3d series, 100^@101;do.
5s, new loan, 116}(^117 ; do. 4s, old, 110@112;
do. 4s, new, 114@114i; Philadelphia and Read-
ing R. R., 31@31i; do. consol. mort. 7s, reg.,
125@— ; do. mort, 6s, 119@120 ; do. gen'l
mort. 6s, coupon, 96^@96|; do. 7s, 1893, 120@
120 J ; do. new, conv., 74@76; United New Jer-
sey R. R. and Canal,.185^@186|; Buffalo, Pitts-
burg and Western, 18|@18J ; Pittsburg, Titus-
ville and Buffalo 7s, 94J@96 ; Camden and Am-
boy mort. ^8, 1889, 113^@114} ; Pennsylvania
R. R., 61@61J; do. general mort. 68, coupon,
123^@124i ; do. reg., 122J©123i ; do. consol.
mort. 6s, reg., 117J@118; Little Schuylkill R.
R. 57@57i ; Morris Canal, 65@69 ; do. pref.,
166i@169 ; Schuylkill Navigation, 5i@6 ; do.
pref., 12}@13 ; do. 6s, 1882, 92@94 ; do. 1872,

->.«•[ .'1^1^ i^'^irfi

.•l:_:^*=.

[ . '^in^^^.^im-^t^d. '^...'A.

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TTT-.'"??'

r^_ >TK^.!V^-7T-^ -7«r;

AMERICAN RAILROAD JOURNAL.

107

107@108 ; Elmira and Williamsport pref., 58
@65 ; do. 63, 115@— ; do. 5s. 99@100; Leliigh
Coal and Navigation, 43J@43| ; do. 6s, 1884,
105@105.J ; do. R. R. loan, 116@118 ; do. Gold
Lojm, ll'l^@ir2i ; do. consol. Ts, 116.\(^117 ;
Northern Pacific, 3^@3^ ; do. pref., 73.J@
73 1 ; North i'ennsylvania, 63^@64i ; do. 6s,
105i@106^; do. 7s, 119@120; do. General mort.
7s, "reg., 121@123 ; Philadelphia and Erie, 15^
@16i ; do. 78, 114@115 ; do. 5s, 105@106 ;
Minehill, 61^@62 ; Catawissa, 17^@18^ ; do.
pref., 54^@55^ ; do. new pref., 53@54^ ; do.
7s, 1900, 116^@- ; Lehigh VaUey 62@62^ ; do.
6s, coupon, 123i@123J ; do. reg., 123@123^ ;
do. 2d mort. 7s, 134@— ; do. consol. mort.
121^@122i; Fifth and Sixth streets (horse), 149
@150; Second and Third, 111@115; Thirteenth
and Fifteenth, 75@80 ; Spruce and Pine, 45
@50 ; Green and Coates, 80@85; Chestnut and
Walnut, 90@94 ; Germantown, 60@70; Union,
110@115 ; West Philadelphia, 107@109 ; Peo-
ple's 13@13i^ ; Continental, 100@103.

J5a;/ijnore.— Atlantic Coal, 1.05 ; Atlanta and
Charlotte, 1st, 109^, do. inc., 98 ; Baltimore City
6s, 1890, 116 ; do. 6s, 1886, 107^ ; do. 6s, 1900,
128^ ; do. 5s, 1916, 121 & ; do. 5s, 1894, 114 ; do.
5s, 1900, 128 ; Baltimore and Ohio 2d pref.,
121 ; Columbia and Greenville, 1st, 103J ; do.
2d, 93 ; Charlotte, Columbia and Augusta, 74:f ;
Maryland Defense bs, 103.] ; North Carolina
consol, 4s, 81 ; Ohio and Mississippi, Spring-
field div. 1st, 121^ ; Parkersburg branch, 8 ;
Richmond and Danville, gold bonds, 105i| ;
Richmond, York River and Chesapeake, 100 ;
Virginia Midland, old 140 ; do. pref., 150 ;
do. 1st mort., 115 ; do. 2d mort., Ill ; do. 5th
mort., 98 i ; Virginia Black scrip, 33 ; do.
Peelers, 39 ; do. Peelers coupons, 372- The
latest quotations are : Atlanta and Charlotte,
1st, 109 J@ 109 1 ; Baltimore and Ohio, 195@
200 ; Baltimore City 6s, 1890, 116@116^ ; do.
1900,— 128| ; 5s, 1884. 114@115^ ; do. 5s, 1916,
121J@122 ; Columbia and Greenville 1st, 103|
@.03|; Marietta and Cincinnati 1st, mort.,
124|@126 ; do. 2d, 105@105i ; do. 3d, 56f
@56| ; Northern Central 50@50| ; do. 6s,
1885, 105i@106 ; do. 6s, 1900, gold, 114@114J ;
do. Os, 1904, gold, 111^@112 ; do. 5s, 1926, 96|
@97\ ; Ohio and Mississippi, Springfield div.,
1st, 121^@12l| ; Pittsburg and Cornellsville,
7s, 120@121^ ; Virginia Midland 5th mort, 95J
@98 ; Virginia consols. 605(gj61 ; do. 10.40s,
40@40J.

Boston. — Atlantic and Pacific 6s, inc., 25;
Atchison, Topeka and Sante Fe, mort., 5s, 95;
Boston Land, 7^ ; Boston Water Power, 5| ;
Burlington and Missouri River in Nebraska 6s,
non-exempt, 103 ; Chicago, Burlington and
Quincy 5s, 1901, 102 ; do. 4s, Denver ext.
83J ; Connecticut and Passumpsic Rivers R. R.,
92 ; Cheshire R. R., 58 ; Connotton Valley, 7s,
17| ; do. 78, 87 ; do. 78, StraitsviUe div., 75 ;
Central of Iowa, 34^ ; Detroit, Lansing and
Northern pref., 112^ ; Flint and Pere Mar-
quette, pref., 94; Iowa Falls and Sioux City,
82; Kansas City, Fort Scott and Gulf, 7s, 111^ ;
Kansas City, Lawrence and Southern 5s, 105 ;
Kansas City, St. Joseph and Council Bluffs
78, 115 J ; Little Rock and Fort Smith, 59f ; do.
78, 111 ; Louisiana and Missouri River, 13J ;
Marquette, Houghton and Ontonagon, 60 ;
Massachusetts Central, 19; do. 6s, 92^; Maine

Central, 42 ; Manchester and Lawrence. 166.] ;
Mexican Central 7s, 80 ; do. blocks, new, 92;
New York and New England 6s, 106^; New
Mexico and Southern Pacific 7s, 113 ; Rutland,
3 J ; do. pref., 24|; Sonora, 23; do. 1st 7s, 85;
Summit Branch, 13; Toledo, Delphos and
Burlington, 5} ; do. inc. 16; do. 6s, 52; do. 6s,
Dayton dis., 15^^; S. E. div. 6s, 64|; do. inc.
6s, 14}; Union Stock Yard Co., 165; Wisconsin
Central, 17; Allouez Mining Co., 2^; Atlantic,
13]; Brunswick Antimony, 14; Copper Harbor,
4i; Franklin, 11; Harshaw, 3}; Huron, 2; Na-
tional, 2 J; Osceola, 32; Phcenix, 3|; Pewabic,
13|; Ridge, 50c.; Silver Islet. 20] ; Sullivan, 2^.

The Coal Trade.

Cincinnati Iron Market.

Office of E. L. Habper & Co.

Cincinnati, Feb. 14, 1882.

A STEADY even tone has characterized the
market with a fair amount of business .and no
material alteration in value.
We quote as follows :

FOUNDBT.

No. Mos.

Hanging Rock Charcoal 1 29 50@30 75 4

Strong Neutral Coke 1 27 00@28 00 4

American Scotch 1 26 50@27 50 4

OBEY FOBGE.

Neutral Coke 25 80@26 50 4

Cold Short 24 00®25 00 4

CAB WHEEL AND MALLEABLE.

Hanging Rock Cold Blast 36 00@38 00 4

Warm Blast 30 00r^32 00 4

Lake Superior 1 and 2 32 00@33 00 4

Lake Superior 3 fo 6 34 00@36 00 4

Southern Car Wheel 36 00^40 00 4

Coal Mines in China.

The opening of coal mines in China has
been undertaken in two distinct places, one at
Keelung, in the Island of Formosa, and the
other at Kaiping, near Tientsin, in North
China. The first, which is purely a Govern-
ment affair, was undertaken in 1876, with the
assistance of an English mining engineer, sup-
ported by a staff of eight or ten foreign work-
men. The ordinary mining engines and appa-
ratus in use at home are employed. Until re-
cently, at all events, this has not been a great
commercial success. Much complaint was at
first made by the engineer of the difficulty in
getting the consent of the superintending na-
tive officials to extra expenditure or alteration,
even when he considered it imperative, but un-
der a change of management things seem to
work more smoothly. The want of a conven-
ient place of embarkation is also a great draw-
back, and there has been at times a difficulty in
getting native hewers in sufficient numbers to
work the openings owing to the great mortality
hat often prevailed. The output has, how-
ever, increased from 14,000 tons in 1878 to
nearly 30,000 for the first six months of the
current year, and with one or two more shafts
it might be increased to 500 tons a day. The

coal is of fairly good quality, and sells, taking
large and small together, at $2.50 a ton, the
cost of working being put down at $1.34 a ton.
— London Times.

Its chu chu to go ahead, and elm chu to
back-'er.

Mike, up on beingtold to leave his dirty hands
in the basin, replied: " An phfat should I lave
me hands in the basin fur: phat would I do with-
out me hands ?"

The leading coal carrying companies make
the following reports of their tonnage for the
week ending Febrv\arj' 4, and for the year td
same date, compared with their respective
amounts carried to the same time last year:

Week 1882 18H1

Reading Railroad 146.610 1,361,336 1.103.148

SchuylkiU Canal 27,665

Lehigh VaUey 102,759 1 ,033,828 820,4i>4

Delaware, Lackawanna and

Western 73,891 342,976 311.161

Shamokin 19.173 86,969 88,441

Central R. R. of New Jersey.. 41,061 313,618 276,438

United R. R. ot New Jersey.. 31,820 139,874 129,077

Pennsylvania Coal 17,769 83.561 81,337

Delaware and Hudson Canal.. 74,129 -283,636 267,024
Huntingdon and Broad Top

Mountain 12,647 58,621 42.074

Penn. and New York 23.472 261.160 205,334

Clearfield, Pa 42,796 227,798 165.388

The total tonnage of anthracite coal from all
the regions for the we^k ending February 4,
as reported by the several carrying companies,
amounted to 408,137 tons, against 403,994 tons
in the con-esponding week last year, an increase
of 64, 1 43 tons. The total amount of anthra-
cite mined for the year is 2,124,943 tons, against
1,969,024 tons for the same period last year, an
increase of 155,919 tons. The quantity of bi-
tuminous coal sent to market for the week
amounted to 89,705 tons, against 59,068 tons
in corresponding week last year, an increase
of 30,637 tons. The total amount of bitumin-
ous mined for the year is 396,015 tons, against
295,096 tons for the corresponding period last
j'ear, an increase of 100,919 tons. The total
tonnage of all kinds of coal for the week is
557,842 tons, against 463,062 tons in corre-
sponding week last year, an increase of 94,780
tons, and the total tonnage for the coal year is
2,520,958 tons, E^ainst 2,264,120 tons to same
date last year, an increase of 256,838 tons. The
quantity of coal and coke carried over the
Pennsylvania Railroad for the week ending Feb-
ruary 4 was 206,480 tons, of which 154,154
tons were coal and 52,326 tons coke. The total
tonnage for the year thus far has been 1,017,051
tons, of which 727,204 tons were coal and 289,-
847 tons coke. These figures embrace all the
coal taid coke carried over the road east and
west. The shipments of bituminous coal from
the mines of the Cumberland coal region dur-
ing the week ended February 4 were 40,394
tons, and for the year to that date 191,083 tons
an increase of 66,838 tons as compared with the
corresponding period of 1881. The coal was
carried to tidewater as follows : Baltimore and

Ohio Railroad — week, 33,599 tons ; year, 156,-
865 tons ; increase compared with 1881, 49,449
tons. There were no shipments by canal.
Pennsylvania Railroad — week, 6,632 tons ; year,
33,342 tons ; increase compared with 1881, 16,-
514 tons. The Reading Railroad shipment for
last week, ending February 11, was 92,000 tons,
of which 8,780 tons were sent to and 11,600
tons shipped from Port Richmond, and 12,750
tons sent to and 16,203 tons shipped from Eliza-
bethport. — Phil. Ledger, Feb. 13.

An old lady traveling in a car with her maid
and her poodle was singing the latter's praise
very loudly: "It's such a sweet creature —
worth a world of human beings to m€ !" The
cabby charged a treble fare. "No, no!" ex-
postulated the old lady, "there is only myself
and my maid." " And the dog, Ma'am. I've
acted very fair, an' only set it down as ekal to
one human."

108

i AMERICAN RAILROAD JOURNAL.

.'t".

statement of the Public Debt of the
United States, February 1, 1882,

DEBT BEARING rNTEBEST..

Amount

Outstanding.
6 per cent loan, 18G1-'81,

continued at 3>^ per ct. $81,624,(200 00
6 per cent loan 1863-'81

continned at 3'^ per ct 47,855, TOO 00
5 per cent funded loan of

1881 401,503.900 00

4>i per cent funded loan

of 1891 250,000,000 00

4 per cent ftinded loan of

1907 738,788,750 00

4 per cent refunding cer-
tificates 559.100 00

3 per cent navy pension

fund 14,000.000 00

Accrued
Interest.

$238,070 58

139,579 12

3,513,145 47

1.875,000 00

2,462,629 00

. ,1.863 67

35,000 00

4l2,400 00 110,073 76
407,800 00 15,650 92

Aggregate of debt bear-
ing interest $1,534,331,600 00 .■? 8,265,287 84

Interest due and unpaid 1,953,000 31

DEBT ON WHICH INTEBEST HAS CEASED SINCE MATUBITT.

Amount Interest due
Outstanding. & uupaid.

4 to 6 per cent, old debt, 1837. $5[i,G65 00 $64,174 81

5 per cent. Mexican indem-
nity stock. 1846 1,104 91 85 74

6percent. bonds, 1847 1,250 00 22 00

6 per cent, bounty land scrip,

1847 3,275 00 213 OC

5 per cent. Texas indemnity >

bonds, 18.50 30.000 00 2,945 00

5 per cent, bonds, of 18.58 8,out» 00

6 per cent, bonds, of 1860 |0,000 00 600 00

6 per cent. 5-20 bonds, 1862,

called 370,700 00 8,439 82

6 per cent. 5-20 bonds, June,

1864, called 58,650 00 170 95

6 per cent. 5-20 bonds, 1865.

called 76,750 00 18,895 79

5 per cent. 10-40 bonds. 1864,
called

6 per •■'iut. Consol. bonds,

1866, called

6 per cent. Consol. bonds,

1867, called 1,09^7,550 00 204,112 15

per cent. Consol. bonds,

1868, called 298,950 00 23,759 12

6 per cent, loan, Feb. 8, 1861,

matured Dec. 31, 1880 100,000 00 5.430 00

per cent, funded loan 1881,

caUed 2,742,200 00 70,653 12

Oregon War Debt, March 2,

1881, matured July 1, 1881. 129,150 00 6,202 50

6 per cent loan of July 17 and

Aug. 5, 1861. matured June

30, 1881

6 per cent loan of July 17 and

Aug., 5 1861, c(mtiuued at

3>i per cent, matured Dec.

24, 1881, and Jan. 29, 1882,

called....' 6.316,150 00 29,530 06

6 per cent, loan of March 3,

1863,matured June 30. 1881. 268,650 00 7,093 50

1-10 to 6 per cent. Treasury

notes, prior to 1846 8?.525 35 2,668 06

1-10 to 6 per cent. Treasury 1

notes, 1846 6,000 00 206 00

6 per ct. Treasury notes, 1847. 950 00 57 00

3 to 6 per cent. Treasury

notes, 1857 1.700 00 99 00

6 per ct. Treasury notes,1861. 3,000 00 364 50

7 3-10 percent. 3 years' Treas-
ury notes, 1861 16,300 00 1,104 43

3 per cent. 1 year notes,1863.. 43,085 00 2,166 35

5 per cent. 2 year notes. 1863. 34,200 00 1,729 80

6 per ct. compound interest
notes, 1863-64

7 3-10 per cent. 3 years' Treas-
ury notes, 1864-65

6per cent, certificates of in-
debtedness. 1862-63

4 to 6 per cent, temporary

loan, 1864 2,960 00 244 19

^per cent, certificates, caUed. 5,000 00 394 31

914,850 00 35.077 50

234,290 00 45,779 89

140,900 00 4,752 92

^4,000 00 253 48

I RECAPITULATION.

Debt bearing intierest in
coin, viz :

Bondsat Gpercent., con- ,
tinned at 'Ai-i per cent.

Bonds at 5 per cent, con-
tinued at 3>^ percent.

Eonds at Hi per cent

Bonds at 4 per cent

Refunding certificates...

Navy pension fund, 3 p.c

Amount
Outstanding.

$129,479,900 00

401.503,900 00

250,000,000 00

738,788,700 00

579,100 00

14,000,000 00

Interest.

$1,5.34.331.600 00 $10,218,348 15
Debt on which interest has
ceased since maturity . 13,920,005 26 662,949 73

Debt bearing no int., viz:
Old demand and legal-
tender notes $346,740,906 00

Certificates of 'deposit 1 1 ,400,000 00

Coin & silver certificates. 74,187,790 00

Fractional currency 7,069,493 67

Unclaimed interest.

$439,398,189 67

7,256 51

$1,987,649,794 93 $10,888,554 39

Total debt, principal and interest to date,
including interest due and unpaid. . . $1,998,538,349 32

^ AMOUNT IN TREASURY.

Interest due and unpaid $1,953,060 31

Debt on which interest has ceased 13,020,(X)5 26

Interest thereon 662.949 73

Gold and silver certificates 74,187,790 00

U. S. notes held for redemption of cer-
tificates of deposit 11,400,000 00

Cash balance available February 1, 1882. 143.901,663 29

$246,025,468.59
Debt, lessarfi't in Treas'y Feb. 1, 1882... $1,765,491,717 09
Debt, less am't in Treasury Feb. 1,1882.. 1,752,512,880 73

Aggregated of debt on which

Interest has ceased since '

maturity $13,920,005 26 $662,949 73

DEBT BEARING NO INTEREST.

Demand notes, 1861-62 $39,890 00

Legal tender notes. 1862-63. . .. 346,681.016 00

Certificates of Deposit 11,400,000 00

Coin certificates. 1863 5,188,120 00

Silver certificates, 1878 68.909,670 00

Unclaimed interest

Fractional currency, 1862,
1863 and 1864 $15,445,427 67
Less amount es-
timated as lost
or destroyed,
act of June,
21 , 1879 8,375,934 00

7 060,493 67

7,256 51

Aggregate of debt bearing no
InterMt $439,398,189 67 $7,266 51

Decrease of debt during the month $12 978,836 36

Decrease of debt sim^e June 30. 1881 .... $88,085,931 25

BONDS ISSUED TO THE PACIFIC RAILROAD COMPANIES, IN-
TEREST PAYABLE IN LAWFUL MONEY.

Accrued-
1 I Amount Interests

Outstanding. not paid.
Central Pacific bonds, 1862-64$25,885.120 00 $129,425 60
Kansas Pacific bonds, 1862-64 6,303,000 00 31,515 00
Union Pacific bonds, 1862-64 27,236,512 00 136 182 56
Cent. Branch Union Pacific

bonds, 1862-64 1,600.000 00 8,000 00

West'n Pacific Bonds, 1862.64 1,970,560 00 9,852 80

Sioux City & Pacific bonds.

1862-64 1,628,320 00 8,141 60

Totals $64,623,512 00 $325,117 56

Interest paid by the United States. $53,405,977 38; in-
terest repaid by transportation of mails, &c., $14,804,-
021,94; interest repaid by cash payments : 5 per cent,
net earnings, $655,198.87; balance of interest paid by
United States, $37,946,756.57.

The foregoing is a correct statement of the public
debt, as appears from the books and Treasurer's returns
in the Department at the close of business, January

31, 1882. Charles J. Folgeb,

i ■ I . I

I Secretary of the Treasury.

CORRESPONDENCE.

[We pay no attention to communications unless the
name and address of the writer is given, though the
same wiU not be published if so requested. Names
and addresses of correspondents will not be given to
inquirers.] j J

Box 277, Worcester, Mass., Feb. 10, 1882.
Editor Ameeican Kailroad Journal.
Dear Sib : — - ,

Can yon tell me where we could probably
find one or two second-hand narrow-gauge rail-
road cars, in good order ?
Your early reply will oblige

j Yours etc.,

, ■ Geo. E. Hapgood.

Treas. W. & S. R. R. Co.

A Street Car Which Carries Its Own
1 ■ ■: 'I !, ' Track.

A STREET car which carries its own track has
been introduced into Chicago, by a company
which claims to have a capital of $1,000,000,
and whose object is to build 1,000 of these cars

.■IilL-^^.^a^'i^iavCi ii^/^ii^iSLaii^

',a..AiU5in •■'-*-'--*''*•■■'■'

and place them upon the streets of that city.
The car as described by the Chicago Times, is
of the ordinary kind, and is mounted in the
middle upon a truck which sits on four wheels,
each about one foot in diameter. These wheels
run around the inside of two steel tiers, each
ten feet in diameter, and which rest upon the
ground, and are held only to the car by a set of
wheel-clamps. The car is designed to hold 50
people, and the owners claim that the more it
carries the easier it runs. It will be stopped in
the usual manner, and two horses will be re-
quired to pull it. The owners say they intend
putting the cars upon the principal streets of
the city, and placing the cash fare at 4 cents
and selling 30 rides for $1.

Legal Notes.

PLEDGED RAHiROAD STOCKS.

The pledgee of stocks, in the absence of a specific
agreement to the contrary, is entitled to transfer the
stock into his own name. When so transferred the
particular shares become indistinguishable trom the
great mass of other stock, and the pledger has no
right to demand the return of any particular certifi-
cates. It is enough if the pledgee have at all times
shares sufticient in number to answer the pledger's
demand upon repayment of the loan.

Bill in equity filed in December, 1880, by W.
W. Hubbell against Drexel & Co., to compel the
transfer to the plaintiff of 1702 shares of Penn-
sylvania Railroad stock.

The portion of the decision which is of gen-
eral interest is as follows :

"The allegation that the defendants pro-
cured a transfer of part of the stock to them-
selves, on the books of the company, imme-
diately on receiving the certificates from him,
is immaterial. It was plainly their right to do
so. If he desired to avoid this he should have
contracted accordingly. When thus transferred
it was unnecessary and impossible to distin-
guish between these shares and others held by
the defendants. It is of no consequence,
therefore, that in selling stock they may have
disposed of these particular shares. They at
all times had in hand an amount greatly in ex-
cess of the shares received from the plaintiff,
and were therefore constantly prepared to keep
their contract with him. A share of stock is
without " ear marks," and cannot therefore be
distinguished, as has just been said, from
others of the same corporation and issue. The
certificates, bearing dates and numbers, are
but evidence of title. On payment of his debt
the plaintiff would have been entitled to a re-
turn of the number of shares which the de-
fendants had received — nothing more. Such
was the effect of his contract : Nourse v. Prime,
4 Johns. Ch. Rep. 490 ; Allen v. Dykers, 3
Hill, 593 ; Gilpin v. HoweU, 5 Barr, 41." [

Hubbell vs. Drexel et al, U. S. Circuit Court,
Pa. — Legal Irdelligencer.

An improved car coupling has been patented
by Mr. John Cochran, Jr., of Milwood, Mo.
The car coupling is constructed with wide
bumper heads, with two pair of links, a jiair of
pins, slotted sliding bars, connected with a pin
of each pair, and pivoted lifting bars connected
with the slotted sliding bars and swinging trip
blocks, whereby the bars will be coupled auto-
matically as they are run together.

-_4fl!Jt4* i^B?"

AMERICAN RAILROAD JOURNAL.

109

liights on Eailroad Trains.

The cause of the sudden conflagration on the
Hudson Kiver train at Spuyten Duyvil a few
weeks £^o has never been satisfactorily ex-
plained. We were told simultaneously with
the news of the horror that the "stove" was
the fatal factor in the disaster which brought
a horrible death to so many unfortunate per-
sons. This theorj' was so plausible that it was
accepted almost without question. A more
rigid inquiry into the circumstances surround-
ing the calamity leads to the suspicion that
the kerosene lamp played a more important
part in the catastrophe than has yet been given
to the public. The instantaneousness of the
flames cannot be accounted for on the stove
theory, and there is only too much reason to
suppose that the deathly oil reservoirs over-
head were more fatal than the small furnaces
below. The stove and the oil lamp on all our
railroad lines are the products of the meanest
kind of parsimony. On thousands of miles of
the European railroads a safe and simple plan
of railroad illumination is in use. The only
reason why it has not been adopted hrre is
that it would probably cost more money at the
outset than the present wretched contrivances.
It is, of course, idle to look for a reform so
long as congresses and legislatures are elected
and owned by the railroad corporations. — X.
Y. Herald.

Wooden vs. Iron Beams.

Several novel features in building have been
introduced in the construction of an eight story
business house now in course of erection in
this city by Mr. Vernon K. Stevenson. The
tide of opinion in the fire department and
amon'g insurance companies having lately turn-
ed against iron beams, the owner has placed on
his floors thick wooden beams one foot from
centre to centre and filled the interstices with
cement, thus forming a solid floor two feet in
thickness, which he claims will resist the pene-
tration of fire for several days, whereas, he
says, "the iron beams would bend with the
heat and fall out and the building cave in."
The stairs are of slate ; the walls three feet in
thickness. The whole of the building is finish-
ed in cherry and California redwood, which
has very much the appearance of mahogany.
This attempt to utilize native instead of foreign
wood seems to have succeeded very well.

' ^

Naptha as Fuel in Locomotives.

Some experiments have been made of late,
says the Journal of the London Society of Arts,
by the administration of the Tsarkoe Selo Rail-
way Company for burning naptha as fuel in
locomotive engines. A tray of cast-iron is
fitted in the ordinary fire-box of the engine
over the bars, and above this tray is fixed a
grating of wrought-iron pipes placed crosswise
and perforated with a number of holes in the
lower side. By means of a larger pipe these
pipes communicate with a cylinder of tin in
the tender of the locomotive. This cylinder is
divided into two unequal compartments, one
containing naptha and the other water. The
flow of these liquids from the two compart-
ments, into the funnel end of the pipe leading

to the hollow grating in the fire-box is regu-
lated by a valve. The water acts as a pulver-
izer, and separates the steam of naptha, bring-
ing in this way a larger quantity of air in con-
tact with the fuel, and so, it is said, causing
more rapid combustion and increased heating
power. The engine experimented upon gave
excellent results, and the railway company
have applied to the Government for authority
to use this system of heating on train lines.
The use of naptha in some parts of Russia will
be more economical than either cool or wood.

The Excelsior Life Saving Car Coupling.

Improvement in railroad cars during the
past 20 years has been made in most every part
with the exception of the Coupling, but recent-
ly inventors have given some attention to this
portion of the car. The latest and best we
have seen is "The Excelsior," which seems to
us to be just the thing, and is another advance
in the all impoi-tant matter of improvement.

and in order to separate them it is only neces
sary to turn a rod running along the platform
to the outside car, to which is attached a chain
connected with the pin, or if on the top of the
car the brakeman has only to turn a similar
rod. The pin is constructed with a rudder
or flange forming a quarter circle, which also
forms a cover to the box, and precluding any
possibility of dust, dirt or ice getting in the
box or the coupling getting out of order, thus
making it sure and certain in its workings. This
coupling can be used on any car or any coup-
ling box. It was patented in the U. S., Aug.
9, '81, and patents have been secured in the
principal countries of Europe. It is now be-
ing tested on one of the principal roads and
others will soon follow.
The Company is composed of gentleman of

character and ability and will carry the work
through succeesfuUy. The officers of the Com-
pany are as follows : James F. Wenman,
President ; Jordan L. Mott, Vice-President ;
Edward P. Barker, Secretary' ; James D. Fish,
i'reasurer ; J. Hamilton Hunt, Gen'l Superin-
tendent ; Edward G. Hilton, Gen'l Manager.

Commerce of Nevr York.

The foreign imports at New York for the
month of January were : —

1880.

Ent. for cons $-20,094,865

Do. for warehousing 7.283.376

Free goods 12.6*3,875

Specie and bullion . . 875.038

1881.

$15,361,813

5.740,490

10,259,629

4,7'23.427

1882.

f22.225,:i«5

7,259.561

10,276,143

374,684

Total ent. at port $40,897,154 $36,085,359 $40,136,673

Withdrawn from
warehouse 7,087.326 7,852.224 7,676,386

The foreign imports at New York for seven

months ending January 31, were :

1880. 1881. 1882.

Ent. for cons $111,345,914 $117,044,725 $142,307,921

Do. warehouse 42,581.638 51,198,571 45,029,925

Free goods 73,579,9'.)4 73,294,615 78,410,405

Specie and bullion. 79.618,209 75,317,963 26,662,882

Total ent. at port. . $307,125,755 $316,855,874 $292,411,133
Withdrawn from
warehouse 43,457,614 60.763,736 56,993.579

The receipts for customs at New York were:

1880.

July 9,329.895 17

Aug 10.562,138 82

Sep 11,790,902 26

Oct 10.952,554 48

Nov 8.460.050 08

Dec 8.175.540 13

Jan 11.960.677 78

1881.
13.360.394 37
14.492.361 87
12,856.636 10
10,574.333 53
9.079,082 36
9.230,734 57
10,572,.5.59 15

1882
14,186,452 06
23.3-23.511 57
19,711,063 96
30,980,174 12
44,153,630 18
97,510,972 74
13,:J87.515 96

The old method of dropping a pin or bolt
through two overlapping loops of iron, and
which has caused many a hand, arm or body to
pay the terrible tribute by being crushed, and
the old process of uncoupling by "slacking
up" is now entirely eradicated by The Excel-
sior. The action of the Coupling is automatic

Total... $71,231,758 72 $80,166,101 95 $88,470,994 11
The exports fi"om New York to foreign ports
for the month of January, were :

1880. 1881. 1882.

Dom. produce $24,668,691 $28,526,320 $26,964,780

For. fi-ee goods 370,357 1,308.767 4'24.682

Do. dutiable 377.618 429.832 459.372

Specie and bullion... 819,919 1,034.514 1.270.441

Total exports ...$26,236,485 $31,299,433 $29,119,175

Do. ezclusiye of spe-
cie 25.416.566 30,264.919 27.848.734

The exports from New York to foreign ports
for seven months ending January 31, were :

1880 1881 1882

Dom. produce $219,454,103 $244,202,820 $207.868.'970

For. free goods 1.083.434 3,419,280 3,732.679

Do, dutiable 2.639,615 3.482,169 3,383,944

Specie and bullion. 4,152,985 5,683,916 7.541.490

Total exports $227,330,137 $256,788,184 $222,527,083

Do. exclusive of
specie 223,177,152 261,104.269 214,986,6»3

At a meeting of the American Association o
Window Glas= Manufacturers lately in Wash-
ington, the product of the past year was re-
ported to have been nearly 2,250,000 boxes,
valued at about $6,000,000. The demand for
consumption has taken the entire product.

, •"■^tt^n^^inr -t-'.

•,v.^';^£i£l.''.'-.;ii J* J.

■'HW

rr^^Z^i

AMERICAN RAILROAD JOURNAL

New York. Jan. 30, 1882.

THE THIRTY-NINTH SEMI-ANNUAL CASH Divi-
dend of the ILLINOIS CENTRAL RAILROAD
COMPANY, being three and a half (3}i) per cent on its
capital stock, will be paid by the undersigned March 1,
1882, to shareholders as registered at the close of busi-
ness on the 11th of February, after which and until the
4th day of March the transfer-books will be closed.

L. V. F. RANDOLPH, Treasurer.

I - THE PERFECTED

REMINGTON

PATENTS.

American and Foreign Patents procured at a moderate
cost. Patent and Trademark suits a specialty. Send
for information.

EVAN P. GEORGE, JR.,:*

COUNSELLOR AT UW AND SOLICITOR OF PATENTS,
4 A. 6 Warren St., N. Y.

FOR SALE

Six new 3ft. Qauge Locomotives, 18 to 24 tons, June,
July and August delivery.

Ten new Ift. 8>iin. or 5ft. Gauge Locomotives, June,
July, and August delivery.

Two new Ladder Tank Locomotives, 3ft. Gauge, 10 tons.
May and .June delivery.

Second-hand Standard Gauge Locomotives and Pas-
senger Cars, immediate delivery.

New Box, Flat, and Gondola Cars, 4ft. 8,'iin. and 3ft.
Gauge, for immediate delivery.

New Passenger and Combination Cars, ft. Gauge, de-
livery 30 days. »

New Passenger and Combination Cars 4ft. 8^4in. Gauge,
delivery 60 days.

New Car Wheels, Iron and Steel Rails.

Narrow-Ga^uge Rolling stock a specialty. :

BARROWS & CO.,

NEW YOBK.

'1 1-

TYPE-WRITER.

4. "WKITING - MACHINE which combii
ea^e with rapidity and accuracy,
I • and economy with elegance
and convenience.

Adapted to general use. Every machi 19
guaranteed.

Send for Circulars with names and testimonials
ncent patrons.

E. REMINfiTOH & SONS, ■

281 and 383 Broadway, New York.
38 Madison Street, Chicago.
1*4 South Tth Street, Philadelphia.
9 1 South Howard St., Baltimore.

[Mention this paper.]

D. N. BEARDSLEY & CO.,

MANUFACTURERS OF

Superior Oak and Ghestiint Lnmtier,

I AND RAILROAD TIES.

Ostls Oa,r TirciToer a, Speci£ilt37".

OFFICE : 9 MURRAY ST.,

II NEW YORK.

HOME

INSURANCE COMPANY OF NEW YORK,

OFFICE: NO. I 19 BROADWAY.

FirTY-SEVENTH SEMI-AirNTTAIj STATEMENT,

• . ■

CASH CAPITAL

Eeserve for Unpaid Premium^ . . .
Beserve for Unpaid Losses .......

Net Surplus

CASH ASSETS.

.$3,000,000 00
, 1,943,733 00
, 245,(J05 3fi
. 1.806.180 90

$6,995,509 26

Summary of Assets

Held in the United States available for the PAYMENT

of LOSSES by FIRE, and for the protection of Policy

Holders of FIRE INSURANCE.

Cash in Banks $ 130,172 31

Bonds and Mortgages, being first lien on

Real Estate {worth $3,600,750] 1,655,858 0(1

United States Stocks [market value] 4,079,500 00

Bank and Railroad Stocks and Bonds [mar-
ket value 664,625 00

State and Municipal Bonds [market value] . 121,750 00
Loans on Stocks, payable on demand [mar-
ket value of Collaterals, $341.507.60 229,760 00

Interest due on 1st January, 1882 85,819 19

Premiums uncollected and • in hands of

Agents 80,635 08

RealEstate 47,399 68

Total $6,995,609 26

■A^

J. H. WASHBURN, Secretary.
T. B. GREENE,
W. H. BIGELOW.

y Ass't Sec'
^ )

>^-

',^'r*«^_M«,

CHAS. J. MARTIN, President.

A. F. WILMARTH, Vice-Pres't.

D. A .HEALD, 2d Vice-Pres't.

i' • .^•"'' ■^--»

£5 fme §T, - l^ew^OE^FO

Interest allowed on Deposits subject
to Draft. Securities, Ao., bought and
sold on Commission. .■ ]: :>

lnvestmeni*Securities tlways on hand.

ALONZO FOLLETT,

Negotiator of prime Commer-
cial paper at Low Rates. Does
not solicit and will not take
hold of any but concerns whose
paper is A L j

Paine, Webber & Co.,

Bankers and Brokers, t

No. 53 Devonshire Street, Boston.

{Member f of the Boston Stock Exchange.)

Devote special attention to the purchase and saltt of
Htocks and Bonds in the Boston market, the careful se-
lection of securities for inrestment, and the negotiation
of commercial paper.

Wm. a. Paine. Wallace G. Wkbbek. C. H. Paink.

John H. Davis & Co.,

BANKERS AND BROKERS,

BTo. lY Wall St^ New York.

Ic erest allowed on temporary and standing deposits,
ntock^ and Bonds bought and sold on GommiMion only,
dither on Margin or for Investment.

Brown, Brothers & Co.,

No. 59 Wall Stieh, New Yoh, |

— BUT AND SELL —
— ON —

GBEAT BRITAIN, IRELAND, FRANCE. GERMANY.
BELGIUM, AND HOLLAND.

Issue Commercial and Travelers' CredHs in Sterling,

AVAILABLE IN ANY PART OF THE WORLD, AND IN
FRANCS m MARTINIQUE AND GUADALOUPE.

iake Teleobaphic Tkansfebs of Monet between this
and other countries, through London and Paris.

Make Collections of Drafts drawn abroad on all points
In the United States and Canada, and of drafts drawn to
the United States on ForeiKU Coostries.

A. WHiTnrEY & Sons,

CAR WHEEL WOBKS,

Callowliill and 16tli Streets,

phujAdelphia, pa.

^^ I

Wet furnish CHILLED WHEELS for Cars, Trucks, and
Tenders. CHILLED DRIVING-WHEELS and TIRES foi
Locomotives. ROLLED and HAMMERED AXLES.; .
WHEELS AND AXLES FITTED COMPLETK. __

MADE ENTIRaY OF STEHT"

ONE MAN with it can easily
move a loaded car.

Manufactured by E. P. DWI6HT,

Dealkb in Razlboad SuPFuas^

407 LIBRAEY ST.,

PfilLADfiLPfiLL

STEEL

CAR

PUSHER

•*

-'■-'-•■^ •'

i'.--:i.„: ■ .'. >.-:.'.,r-.-^.'^

; IT -7 '-^lav. *»^~p^y\ v,,'*^ • s.'jr"'^'. '*'"';':

y...'^f.;.:^j;—:\-^^ . ^/--j^-.; ;•••"■ ■ *...^.r; . ,» ^.sr *• .*T»^ ??

AMERICAN RAILROAD JOURNAL.

Ill

V A L E NT IN E ' S ^^^^^^^ V ARNISHES

ABE ON SALE ffl THE FOIIOWING CODHTWES:

ENGLAND.

PRANCE.

GERMANY.

AUSTRIA.
SPAIN.

INDIA.

SWITZERIiAND.

ITALY. •

HOLLAND.

SCOTLAND.
RUSSIA.

■AUSTRALIA.

SOUTH AMERICA. NEW ZEALAND.

MEXICO. CUBA.

VALENTINE & COMPANY,

COACH AND CAR VARNISHES, ■

l^JEfXT^

This Space to be occupied by MoUer & Schumann,
Varnish Manufacturers, Brooklyn, N. Y. •

BAMES VACUUM IRAKE CO.,

RAIIiWAV TRAIN BRAKES,

P. o.|Box 2,878] SALES OFFICE, 15 COLD ST., N. Y. Represented by THOS. PROSSER & SON.

The EAMES VACUUM BBAKEI is confidentlyfofferedi as the^most efficient, simple, durable and cheapest Power Brake in the
market. It can be seen in operation upon over seventy roads.

fi rtfii f r iiTf

i^rw^^T?!T"''F*^^

112

^-vj'-yv-'.--^ rr:-7t'¥»'Ty-. f .v'-'"' f -,"

AMERICAN RAILROAD JOURNAL.

;e-t V . . •. ^..)- .*•■

•■ : .-■ '.• -^ *. r7

■a 1

WATER TM! STEAM BOILERS.

THE BABCOCK & WILCOX CO.,

30 Cortla.na.t St, N"e"w TTork..

lie James Street, Glasgo-w. '

JOHN STEPHENSON CO.

> [Limited.]

NEW YORK .

Superior Elegance, Lightness and Du-
rability. The result of 50 years' experi

ence. '\ " 1 .• - i

Adapted to all countries and climates.
Combining all valuable improvements
Shipped to Foreign Parts with greatest
care, and at most favorable rates.

flOPSA TONIC RAI LROAD

THE ONLY LINE RUNNING

•m i^ o TJ o- ih: c-^ii-s

Between New York, Great Barrington, Stockbridge, Len-
ox, and Pittsfleld — the far-famed resort of the

Berkshire Hills

of Western Massachusetts — the " Switzerland otAmericfi,-
Two through trains daily between New York City an.

all points on the Housatonic Railroad, from the Gran«

Central Depot via the New York, New Haven, and Hart

ford Railroad at 8:05 A. M. and 3:43 P. M.
Descriptive Guide Book sent free upon application to

the General Ticket Agent.

H. D. AVEHIIjIj, Gtn'l Ticket Agent.
Ii. B. STIIiliSOIf, Superintendent.

General Offices, Bridgeport, Ct. January 2, 1882.

John B.Davids &Co'

MARK

I^WARRANTEDj

(NGlNEERS.Mechanics.MillOvrners.Builders.Manu-

If acturers. Miner s.Merchants, Ac, will find in Moo ke'B

Univebsal a 8SISTANT and COMPLETE Mkchanic, a work
containing 1016 pages, 500 EnRraving8,461 Tables, and over
l,000,OOOIndustrialFacts,Calculations, Procpssei, Secretg,
Bales, Ac, of rare utility in 2 Trades. A fSbookfree Djr
mail for $2.50, worth its weight in gold to any Mechanic,
FarmerorBusinessMan. A'/entt Wanteil. Sure sale every-
where for all time. For 111. Contents Pamphlet, terms,
and Cataloffne of 500 Praotical Books, address National
: Oe., 7S B«elBBaa SV. Vvm Y«rk.

NO OTHER LINE IS SUPERIOR TO THE

I FITCHBURB RAILROAD

HOOSAC TUNNEL ROUTE

"WEST.

6.30 A:

ACCOMMODATION.

Connecting at Syracuse, N. Y., at 7.15 P.M., with through sleeping cars for Cincinnati,
Cleveland, Toledo, DETROIT AND CHICAGO,

CINCINNATI

EXPRESS.

Pullman Sleeping Car attached, running through to Cincinnati without change. (Only Line
running Pullman Cars from Boston.) This car runs via Erie Kailway and N.Y., P. & O. R.E.,
making direct connection for Louisville, St. Louis, Kansas City, New Orleans, and all
points in Texas and New Me^co.

P. ST, LOUIS

M. EXPRESS.

I THE ONLY LINE which runs a THROUGH SLEEPING-CAR from

BOSTON TO ST. LOUIS WITHOUT CHANGE!

' ARRIVING AT 8.00 A,M, SECOND MORNING.

Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo]
Kansas, Colorado, Texas, and all points in the

SOUTHWEST.

p. PACIFIC

M. EXPRESS.

West and northwest.

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED.

.tdfl Great Short Linepasses tlirough the most celebrated scenery In the country, including the famoua
I HOOSAC TlftfNEL, four and three-quarters miles long, being the longest Tunnel
• ' in America, and the third longest in the world. ' "•'

Tlcketa, Drawlnff-Room and Sleepingr-Car Accommodations may t>e secured In Advance

toy Applylnir to or Addresslnir

250 WASHINGTON STREET, BOSTON. 250

JOHN ADAMS, General Superintendent. F. 0. HEALD, Acting Gen'l Passenger and Ticket Agent.

la •fl'ect Jaanary 9ih.» 1889t <u^d snldect to chansea.

. ::■&.: .

^r^.^1

■.,iA.A:^ fi iiHa'i ><

^^ .A. v^ ^ iy^i:.ifi*x,.'id^\m,\ I --rtirtini LA^^^&.y

^AMERICAN RAILROAD JOURNAL fe -

113

■A,«F. ^.

!«!

E. W. Vandebbilt.

E. M. Hopkins.

VANDEBBILT & HOPKINS.

Railroad Tiesj

Car and Railroad Lumber, White and Yellow Pine and Oar.
120 Liberty Street, M. Y,

Also North Carolina Pine Boards, Plank, and Dimen
Bions Lumber to order. General Railroad Supplies.

SHUGG BROTHERS,

DESIGNERS AND ENGRAVERS

AND

PHOTO ENGRAVERS,

No. 18 Cortlandt Street,

NEW YORK.

KNOX & SHAIN,

Manufoctnrers of Engineering and Telegraphic Instru-
ments. No. 716 Chestnut Street, Philadelphia. Two
Medals awarded by the Franklin Institute, and one by
I he Centennial.

PATENTS

We continue to act as Solicitors for Patents, Caveats,
Trade Marks, Copyrights, etc., for the United States,
Canada, Cuba, England, France, Grermany, etc We
have had thirty-five years' experience.

Patents obtained through us are noticed in the Sct-
ENTiFic AMERICAN. Thls large and splendid illus-
trated weeklypaper,$3.20ayear,shows the Progress
of Science, is very interesting, and has an enormous
Circulation. Address MUNN & CO., Patent Solici-
tors, Pub's, of Scientific American, 37 Park Row.
ttewYork. Hand book about Patents frfifl.

A. Ik^ E3 R, I O A. N"

COMBINATION SAW.

Without Lathe.

F AIHB ANES' ??^^^^albs

f^i^'^: SCO Hi^OIDrE^CA-TIOiTS. :^-

ADAPTED TO ALL CLASSES
OP BUSDfESS.

Priqe $6 without Lathe ; with Lathe, $8.

Address THE IVIanufactuebm,

C. M. CRANDALL & CO.,

MONTKOSE. Susquehanna Co.. PA.

Railroad and Warehonse Tmcks,

AND COPYING. PRESSES

Oldest and Largest
Scale Works in the World.

BUY ONLY THE GENUINE.

F-^

Dormant "Warehouse Scales.

E^B-A-I^n^S <Sc CO.,
311 Broadway, New York.

FIDELITY AND CASUALTY COMPANY.

CASH CAPITAL, - - - - $250,000.

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and reBponsibility,
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the faithful per-
formance of the duties of employes in all positions of trust.

-A.COI1DE1TT POLiICIBS.

Policies issued against accidents causing death, or totally disabling injury, insuring Itom Fvrt HuiiDBXD
DoiiliABS to Ten Thousand in case of death, and from Three DoLJjats to Fiftt weekly indemnity in caa« of dia
abling injuries.

WM. M. RICHARDS, Pns't. JOHN M. CRANE, Stc'y.

IDIR,BOTOR/S :

Geobge T. Hope.

G. G. WlIililAMS.

J. S. T. Stbanahan.

H. B. Claflin.
A. S. Babnes.

H. A. HURLBUT.

W. G. Low.
Chables Denxis.
S. B. Chittenden.

Geobge S. Coe.
Wm. M. Bichabds.
A. B. HoLL.

STEEL
CASTINGS

FROM 1-4 TO 10,000 ibs. WEIGHT.

True to pattern, sound and solid, of nnequaied strength, toa£:hness and

durability.
An invaluable substitute for forgings or cast-irons requiring three-fold

strenjrth.
CROSS-HEADS, ROCKER- ARMS, PISTON-HEADS, BTC. fo!

Locomotives
15,000 Crank Shafts and 10.000 Gear Wheels of thi« rteel now mnninp

prove Its superiority over other Steel Castmcs.
CRANK-SHAFTS, CROSS-HEADS and GEARING, «p»cialtie«.
Circulars and Price Lists free. Address

CHESTER STEEL CASTING CO.

407 JLlbrary St., PHIL.JlD£I.PIIIA
WoB^Ls, CKCST£K. Pa.

SWIFT'S IRON AND STEEL WORKS,

26 W. THIRD ST., CINCINNATI, OHIO.

Manufacbrers of all WeigMs of Standard and Narrow Gauge Rails by the most approved process. Also Rafl Fastenings,

Steel and Bloom Boiler Plate, and Tank, Sheet and Bar Iron.

E3T

3>fir ooi^

IRON AND STEEL RAILS.

O-EO. JSL^ ETV-AJiTS,

•Z-i T:^7"aJl Street, iT.

Saiidnsky Rail Mill Co.
New Albany Rail Mill ( o.

STEEL RAILS,

IRON RAILS,

BLOOMS.

C. H. ODELL, AGT.

104: John St., N. T.

FOR SAL.E IN I OTS TO ^UIT.

Prompt Delivery*

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS,
AND FOR RE-ROLLING OLD RAII&

OLD RAILS AND SCRAP AND CAB WNELS BOUGHT AND SOLD.

""' '' rTiif'i>Tife'A^nirir.lrr'afiifi'.ii'*''i .,

urmij^- hW7il I "■

AMERICAN RAILROAD JOURNAL.

AMERICA]^

REFBIGERATOR

■LINE,:

New York, Oct., 1881.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported
Liquors, Patent Medicines, Es-

sential Oils, Mineral Waters,

Lager Beer, Ales and Porters,
Oysters, or, in fact, any class bl
goods that needs protection
from heat or cold while in tran-

sit to the West and Southwest,
either in Summer or Winter,
will do well to ship the same by
the new and elegant cars of the

REFBIBEBATOfi TRANSIT COMI

Of the Finest Finish, as well m every deacription of CAR WORK, furnished at short notice and at reasonable
■I v^' . ;■• Prices by the 1

J HARLAN & HOLLINCSWORTH CO., Wilmington, Dei.

FARDEE OAHWOBKa.

WATSONTOWN, PA.

FARDGE, MIDER k (0., lIMIfGD,

PROPRIETORS.

!L<d[etzi-u.fbtotvLx*oz*s of

Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, Coal, Mine, and Hand Cari ;

Kelley's Patent Turn-Tables, and Centers for Wooden Turn-Tables ;

Car Castings, Railroad Forgings, RoUing-Mill Castings,

Bridge Bolts and Casting^. i

4^ Wo haT*. in esBneetios with our Car Works, an eztensiTe Foundry and Maehina-shop, and are preparaA
»• do a general Machine Business. . i

Chairman, Treasurer and General Manager, Secretary,

AJEtIO PARDEE. H. P. SNYDER. N. LEISER.

NEW YORK CITY OFFICE: ROOM A, No. 137 BROADWAY. .

I C. W. LEA VITT. Agent. I

m lORK, UU E BIE, m WESTER! BAllWH.

TO THE] TR^A.'VEIjIlSrCa- FUBLiIO.

During the Centennial season — six months closing September 10, 1876— the Erie Railway caiTitd almofft
fSKn Million passengers, without a singe accident to life or limb, or the loss of a piece of baggaf a.

And for a whole year the official records of the United States Post Office Department show the arriraU of
•irle Bail way trains in New York, on time, to be from 16 to 27 per cent ahead of competing lines.

Facts well worthy the consideration of traTelers. , ..

Guaranteed Bills of Lading will
be given.

Time as quick and rates as
low as by any first-class fast
freight line.

.^^Ship from NEW YORK via
N. Y. C. and H. R. R. R., St.
John's Park; from BOSTON via
Boston and Albany R. R.

For rates and information apply to

FRED'K I. EVANS,

Beneral Eastern Agent.

92 Wall Street, - New York.

271 Broadway, New York,

232 Washington Street, Boston

X. S. BOWIBN, Gtneral SuptnnUndent.

JNO. N. ABBOTT, G^- Ptuttngtr Agent,

Railroad

TraiCk Scales.

PHILADELPHIA:
50 South Fourth Street.

NEW YORK:
I 1 3 Liberty Street.

AND

TESTING

MACHINES

PITTSBURGH :
Liberty St., cor. 7th Ave.

ST. LOUIS:

609 North Third Street.

NEW ORLEANS:
1 42 Cravier Street.

THE

GORDON & DUGGAN

I RAILWAY SWITCH.

The Standard on several and in use on
twenty-five Bailroads. '

Combines Safety, Durability, Simplicity,
and Low Cost, with Fixed Rails.

The only movable piece weighs 375 lbs.
and is without a bolt or rivet.

{ E. CORDON, Treasurer,

No. 28 Statu Stbkit, Boston, Mass.

THE ROGERS

LOCOMOTIVE AND MACHINE WOBES,

Fettorson, 2^T. J.

Haying extensive facilities, we are now prepared t(
inmish promptly, of the best and most approred de
acrlption, either

COAL OR IVOOD BURNING

IjOOOI^OTIVES EN"CHITH3S,

▲in> OTHXB VASIETIX8 OT

RAILROAD ]?IACHINER¥.

J. S. ROGBR8, PruH. \

R. ■. HUOHBS, Sec'y. \ Patereon, If . J.

WM. 8. HUDSON, -Sup't ) ... -j

I^. S. larCJO-iaCBS, TTresusrLixex.
44 BxehMm* PlaeetHew York.

rs"i-Jl£.i.>'*:"-^''-tfc,r.*5».;i

.[^-^.m^-MAiiS:J.*i^tl^ii^.i..2L..' ''-''- '■ '--^^ ' -A^-^': jli^lJiJLa^

AMERICAN RAILROAD JOURNAL.

RENDLES P^AT £NT SYSTEMS OF G LASS ROOFIHG.

A NOVEL and useful patent is being introduced in this country by Me. Arthur E. Eendle, No. 7 Warren Street, New
York. It is a system of glazing known as " Rendle's Patent System of Q-lazing," and is largely used abroad, especially in Eng-
land, where nearly all the great railway stations, government buildings, conservatories, etc. are glazed in this way.

The principles of this method are the insertion of the glass in metal bars attached to the wood or iron work, and so
arranged that the drip from condensation is carried off from the interior of the light by ingeniously contrived channels. Expan-
sion and contractio* are also provided for, and the great feature is the fact that all filling with either putty, felt, cement or
solder is dispensed with, thus rendering the roof or skylight comparatively indestructible, and involving light expense in repair
[■■ and maintenance. The work is rapidly and economically constructed, and as more light, greater durability and large saving in
' expense are obtained, the system is rapidly being adopted by numerous leading railways, manufacturers, etc., among which are
the N. Y. C. & H. R. R. R.— the Buffalo depot having been glazed with this method— the N. Y., Pa. & Ohio R. R., Cleveland
h car shops, Flint and Pere Marquette R. R., etc., etc.; ana the Yale Lock Manufacturing Co., Renfrew Manufacturing Co.,
Adams, Mass., Wm. Skinner & Son, Holyoke, Mass., Hamilton Web Co., Hamilton, R. I., The American Zylonite Co.,
Adams, Mass., and others.

The accompanying cuts show the " Ordinary " and " Coinbination " systems; further information regarding which may
be obtained by addressing the patentee.

"-2 . ^a- ■--'.•

•■;>;.-

RENDLE'S PATENT ORDINARY SYSTEM.

».■ j.'f.^V'

■■■)■:■-' i-
". ■••*.;

- ■ 1 .

;.< 3t^~:

»-■ -
■I- ■■■■

' .'"•-'

■■*

1-* .

V^'::>

-'•; *r: «!.•

1 ■

'-' '■ . *

■: '■"■:

■ : ■

■ i

^•i '

■-:■:

'■. ."'■ .•'

: ■•'• ^■■' -

■■J-:'--

;• ■

-■'"■^''■^

ORDINART^ SYSTEM.

RENDLE'S PATENT COMBINATION SYSTEM.

;<^-1.

'^i r

I , ■ ^<^„ .^ '--r .*3^- * -

VEBTICAL BAB

HEAD OFFICE : NO. 7 WARREN STREET,

NEW YORK

H'' : ' .-" ■'' . ■'- ^^

■■y-r

116

AMERICAN RAILROAD JOURNAL.

This material is iudistructible and therefore valuable for all purposes of

HEAT,

-A-lTD-

SOUND,

FROST-PROOFING.

Orer 3,600,000 lbs. now in actual use ; 614,000 lbs. of which have been applied in cars as shown in diagram.

Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution.

Sample and circular free by mail. . . - ..-, .

UNITED STATES MINERAL WOOL COMPANY,

NTo. 13 CortlCLTicit Street,

N-ES'W- "2-OK,IC.

NATIONAL TUBE WORKS CO.

MANUFACTURE WROUGHT IRON PIPES AND TUBES.

>, ■• •'.. *.'

WORKS:

MIcKeesport, Penn.
Boston, Mass.

NATIONAL SPECIAL SEMI-STEEL

\if' ■■?■.

OFFICES:

TTTRP^ I04ancl f,06 John8t.,N.Y.

IUDJjO. 8 Pern bertonSq., Boston.

1 59 Lake St., Chicaso.

KSlTA itLiISHED IS 1836

LOBDELL GAH WHEEL GOMFANT,

IVllmin^ton, Delaware.

6E0BQE G. LOBDELL, President. I

WILLIAM W. LOBDELL. Secretary.

P. N. BRENNAN, Treasurer.

J. C. BEACH, Treas.

C. H. ANTES, Sec'y.

ALLEN PAPER IS WHEEL COMPl.

GenM Office, 940 Broad^VMy, N. Y.

Works at Pullman, III., and Hudson, Nkw Yokk.

AN INDESTRUCTIBLE WHEEL FOR PASSEN-
GER CARS AND ENGINES.

BABCOCK

EITINBUISHER.

coTTeiv-SEin> hitlls

For Packing Journal Boxes of Cars.

National Railwat Pateit Waste Co.
240 Broadway, New York.

EAGLE
TVBE CO.

614 TO 626 WEST 24TH ST.,

New York;

Boiler

Tubes,

GEO. R. WOOD,

IRON AND BAEWAI BUSINESS.

Steel and Iron Rails,

■ O Zli S3 S ^-J ■ • ■-; '

No. 19 William St., NEW YORK.

RAILROAD IRON.

'.■ A- - .".

-:•!-■ ^^— ^— A.-. ■■■.»_■

The undersigned, agents for the manufacturers, art
prepared to contract to deliver best quality American
or Welsh Steel or Iron Rails, and of any required
weight and pattern. Also Speigel and Ferro ManganM*.

PERKINS A CHOATE,

93 Nmmu Street, WBUT YORK.

V First-Class English -

Iro]¥ A]¥D Steel Rails

AT LONDON PRICES. F. O. B.

Of all regular sizes, of the

best material, and

warranted.

ASentinelthatNeyer Sleeps

SIMPLE! ^ :

EFFECTIVE I
V r DURABLE!

S. P. HAYWARD,

GENERAL AGENT,
407 Broadway, JJ". Y. .

1:--i^^:-:-::.

LocomotlTe Water-Grates a
specialty, and 20 per cent

below regrular prices.

Fnces lower thanother MannMium

NO PAYMENT REQUIRED UNTTL

TUBES ARE TESTED AND

SATISPACTOBY.

IV. B.— Send for Stock IJn.

We also purchase all classes of Railroad S«eurltlM
and negotiate loans for Railroad Companies.

- IVM A. GUEST & CO.,

No8. 41 and 43 Pine Street, New York.

Safety Railroad Switches,

WITH MAIN TRACK URMOKEN.

Railroad Crossings, Frogs, and Otb«r
Railroad Supplies.

MAiroiAOTUBBD BY THE ' '

WMTON MMOAD SWITCH CO.,

PHTT.ADEIiPTTTA.

Works : 33d and WashtnvtcMi Are.
OIBcet 39 Sontb 3d Screec

tf-'r.*-

TAiUiN

Steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures.

SEcom>QuABTo8KBiiw.-VoL.xxxvni..No.8.r - NEW YORK, FEBRUARY 25, 1882.

•■. ^ ■"■

.r. (Whole No. 2,392.— Vol. LV.

About Railroad Monarchs.

In the London Times of the 31st we have a
piece of characteristic writing, in the leading
article, upon what the editor calls the railway
monarchs of America— the Vanderbilts, Goulds,
Garrets, Gowens, etc. The object seems to be
to bring home to the British public that though
the United States is a Republican country, its
people to-day are dominated by a power which
is imperial both as regards the territory and
capital which it controls, with a corresponding
influence as regards political importance. We
quote: — .',■■■'>:.-;;•..■■■ ^ -.-■-'■■. '/■.■■, r^. :.■■ ■..

No potentate has ever wielded a chairman's sceptre
here endowed with anythinj? like the amplitude and
eplendor of the royal prerogatives which appertain to
railway presidents in the United States. A representa-
tive character is always seen to belong to the nilers at
English Railway Boards. They are not only elected,
but elective. In the United States, a raUway president,
when once chosen, governs by a sort of right divine.
At all events, he exacts passive obedience. Each ad-
ministers his section of territory with absolute power.
He signs treaties by which neighboring sovereigns bind
themselves not to trespass. When they transgress
what he construes to have been stipulated he retaliates.
These illustrious personages do not court political
honors. No chief of the State or party caucus would
venture an invitation to them to accept office, which
would be sure to be declined. They go about modestly
among their fellow citizens as if they were ordinary
men. Their names are seldom heard in Europe, unless
they have yachting tastes or covet a famous picture.
Yet they have one hand always on the throat of America
and another on that of Europe. They decide at what
price Europe shall eat and for what wages the vast
American West shall plough. Fortunately, they have
not soared to the sublime misanthropy of a Roman
Csesar; or, with their fingers at the common neck of
both hemispheres, they might in a caprice doom the
world to starve. - . \v " ;; ^ . • .. - ^

These meditations appear to have been in-
8i)ired by an intuitive apprehension that the
railroad war, which has now been brought to a
conclusion, would be followed by another com-
bination, which will deprive foreign consumers
of food products of the low rates of transpor-
tation which were secured to them by the nat-
ural law of competition. The apprehension
no doubt was created by the foreshadowing in
London of the treaty of peace which was con-
cluded in Commissioner Fink's office last
week, the first effect of which was to advance
the rates for east-bound freights. To this ex-
tent, no doubt, it was a decree "at what price
shall Europe eat, and for what wages the vast
American West shall plough." The "Thun-
derer" must not suppose, however, that the
power thus exercised by the railway monarchs,

tremendous as it is, is either hopelessly be-
yond restraint, or, in the nature of things,
likely to be perpetual. For the time being, it
occupies the attitude (always a perilous one)
of an imperium in imperk). This is a position
which necessarily places it on the defensive in
a country where the people themselves, in
theory at least, are supreme. Just in propor-
tion as the American public comprehend pre-
cisely what that position implies with reference
not only to commerce and trade in all their
ramifications, but also to their political system,
will be the popular demand for such legislative
restraints as will restore the safe equilibrium
between the railway sovereigns and the sov-
ereign people. There are many manifestations
of that demand even now, and he must be a
very blind or a very deaf man that cannot see
nor hear them. Under the combination
system, which shuts out competition, this feel-
ing bids fair to grow more and more intense.
Hence, vast as the power of the railway mon-
arch is, we have no apprehension that, difficult
as it may be to manage with due regard to all the
interests at stake, it will ever become wholly
beyond control, if that is its disposition. In
a thousand ways it has been and may still
continue to be a power for good, as an instru-
ment of national devolopment ; and if in
many ways it is also a power for evil, we
think our transatlantic friends maf be assured
the common sense of the American people, in
any event, will see to it that while the latter
is judiciously restrained, the former shall
neither be causelessly discouraged nor rendered
inoperative by measures which may be de-
vised in only panic or fear. — Montreal Witness.

"Wonders of Simple Tools.

A COMPLICATED engine, like the common
wood-worker, the printing-press, a compound
lathe, or various forms of spinning and weav-
ing machines, is really one of the most won-
derful things in the world; most of such con-
trivances are the product of the combined
thought, study, experience and ingenuity of
generations and ages; yet some of the simplest
tools, either in their construction or use, rej)-
resent a degree of ingenuity and manual skill
which is astonishing. . , . l

A common file is one of the simplest of tools
to look at, and to a careless view one of the
easiest to make. Files have been in use from
the beginning, and rank with the hatchet and
hammer in simplicity and usefulness. From

the time the naked savage smoothed his arrow
head with a bit of sharp gritted stone, and the
handle of his club with a piece of dried fish
skin, to these days of finely finished work, the
race of man has employed some form of file to
accomplish mechanical results. Yet the mak-
ing of the hardened steel file which is now so
universal requires a delicacy of touch and ex-
actness of movement that is wonderful.

The diagonal cuts upon the sides of a com-
mon "three-cornered" file appear to the eye
to be absolutely regular, uniform in their rela-
tive distance and alike in depth; the keenest
vision is unable to detect any irregularity, and
their cutting seems to be the work of the most
delicate and accurate machine. A close scru-
tiny also shows that the cuts grow finer, closer
and shallower by almost imperceptible degrees
of variation as they approach the tapering
point, ' .. 1

Upon the smaller files of the regular siz^
there are more than two hundred of these par-
allel cuts to the inch, and in some of delicate
make for special purposes, this degree of fine-
ness is greatly exceeded. • " i

Yet this wondrously delicate and accurate
work is done, not by^ the aid of machines with
minute micrometer screws and gauges, but
with a simple hammer and chisel in the work-
man's hand. The advance of the chisel upon
the blank at each cut of the two hundred and
fiftieth part of an inch, neither more nor less,
is regulated simph* by the unaided sense of
touch. The weight of the blow, also diminish-
ing or increasing at each stroke by a fraction
of an ounce as the cutting approaches or re-
cedes from the point, is regulated solely by the
judgment of the workman. All this is done
without pause or hesitation to correct or re-
adjust and with a rapidity which shows itself
in the cheaj^ness of the finished file.

File cutting is rendered still more delicate
and difficult by the varj'ing hardness of the
same bit of steel at different points in its sur-
face, which would cause blows of equal force
to make cuts of varying depth and width. This
unequal hardness must be perceived as the
cutting progresses and allowanQe must be made
for it all through the operation. 1 .'-;.. .

Doubtless all this seems easy enough to the
practiced file cutter, and he does his work
without even thinking of these difficulties. Yet
the education of hand, nerve and brain to such
a perfection of movement is certainly a most
wonderful illustration of perfection attained in
I the use of tools. For more than one hundred

118

AMERICAN RAILROAD JOURNAL.

.'*•

years efforts have been made to cut files by
machineiy \*'ith only jiartial and moderate suc-
cess, the process, simple as it ajipears, being
too delicate for less perfect instruments tjian
the human hand and brain.

Analysis of Iron.

Ix the hearing before the Mechanical En-
gineer yesterday, Prof. George Hays, the ana-
lytical chemist and expert of Alleghany, testi-
fied that he had fiom time to time made
analyses of pieces of iron taken from the en-
gines which he tested. Six specimens were
examined. He tried them to detect the more
deleterious foreign substances. Those discov-
ered were silicon, phosphorous and sulphur.

One sample tested showed 3.007 parts of
silicon; 7.081 of phosphorus, and 0.175 per
cent of sulphur. Another sample showed 3.08
of silicon: 6.38 of phosphorus. The third
sample showed 3,2 of silicon; 7.719 of phos-
phorus. The fourth sample, silicon, 3.932;
phosphorus, 6.86. Fifth sample, silicon, 2.65;
phosphorus, 5.29. Sixth sample, silicon, 2.93;
phosphorus, 6.39, There was an average of
0.75 per cent of sulphur in each sample test-
ed. Sulphur has a tendency to maEe cold iron
brittle and short. It gives a cracking tendency
to it. When the iron is hot silicon will cause
it to crack on being strained or struck. Thus
it is brittle when either hot or cold. There is
no pure iron, but good iron should not contain
more than 1 per cent of silicon, 0.1 per cent
phosphorus, and of sulphur must not contain
more than 0.02 per cent. 11 1

Phosphorus and sulphur are different in
their agency, one injuring when hot, the other
when cold. They are never neutral to each
other, and in no condition or under no circum-
stances are they harmless, but, on the contrary,
are exceedingly deleterious. Sulphur, when
present in large quantities, will make iron
liable to crack even when the casting is cool-
ing. The fuel has an effect upon the iron, and
when either silicon or sulphur is present in it,
they will impregnate the iron to an extent in
proportion as they obtain in the fuel. If there
was more .sulphur and sulphuric acid the result
would be a lai^e presence of sulphur in the
product. Charcoal is the best fuel obtainable
.at the present time. There are ways to make
more than 1 per cent of silicon, 0.1 per cent
phosphorus, and of sulphur must not contain
iron whereby much deleterious substance can
be avoided. , . i

Telegraphing to and from a Moving

Train.

by a somewhat ingenious arrangement light-
running wheels can run along them from one
end of the road to the other. The wheels are
insulated from each other, but are connected
with wires that pass down the roof of the car
to the operating instrument, and through it
complete to the circuit. As the car moves the
wheels are drawn along on the wires just above
it, and a constant current of electricity is main-
tained between the initial and terminal sta-
tions through the moving car.

Without attempting to enumerate the advan-
tages of the invention, some of the more obvi-
ous may be mentioned. All train reports and
all orders from train dispatchers will be com-
municated directly to the conductor and en-
gineer while the train is in motion. Passen-
gers can receive and transmit messages at any
moment during their journey without any of
the inconveniences now experienced. Direct-
ors and distingiiished parties traveling in their
own private cars will find it especially conven-
ient to have a telegraph office constantly at
hand. But the one great value of the invention,
after all, will be its preservation of life and

property by preventing collisions.

— ^

Trunk Line Commission Hearings.

At a meeting of the new Trunk-Line Com-
mission recently held in this city it was decided
that the following daj's should be fixed for the
hearing of commercial bodies desiring to sub-
mit to the commission their views upon the
adjustment of rates to the seaboard cities :
Those of New York will be heard on March 6
and the rest of that week at New York ; those
of Philadelphia, in Philadelphia, March 13 and
the rest of that week, and those of Baltimore,
March 20 and the rest of that week at Balti-
more. If the hearing of these bodies requires
extra time, it will be given. The arrangiag of
places for the hearings was left to the commis-
sioner of the trunk lines. The commission
will hear bodies in any other seaboard city and
in the West, if they signify to Commissioner
Fink in New York their desire to be heard be-
fore March 20.

Accidents from ** Frogs."

The Santa Barbara (Cal. ) Press .says that a
patent was issued on the 27th of September
last to a resident of that town for a method of
telegraphing from a moving railroad car. The
invention enables each freight or passenger
train to have its own telegraph office. Two
wires are required instead of one, and these are
suspended directly over the track and above
the moving train. They are parallel and about
eighteen inches apart. One wire is connected
with a battery at the station from which the
train starts, and the other with a battery at the
terminal station. They are so su.spended that

"It is surprising," says the report of the
Railroad Commissioner of Michigan for 1881,
" that in view of the number of lives that are
crushed out everj' year, by employes being
caught in frogs, that some device has not been
adopted to render them less dangerous; They
are the very jaws of death. An employe once
caught within their embrace, as a train is mov-
ing upon him, has little hope of escape. The
last legislature passed a bill upon this subject,
requiring railroad companies to block the points
of danger, which, upon a full investigation,
was deemed impracticable, and it failed to be-
come a law. It would seem that some method
could be adopted to prevent the foot being
caught which would be practicable, and not
interfere with the full use of the switch. I do
most earnestly urge upon the railroad compa-
nies the attempt at least to devise some such
system. Humanity demands it. It will not do
to say that employes shotdd not go between
cars when they are in motion for the purpose

of coupling, and therefore no remedy shoull
be devised. The accident does not always oo
cur in coupling, and although in coupling, the
cars to be connected may be standing still, tlis
cars moving toward them may come with suca
motion as to cause the brakeman to be caught
in the frog. The stick which is adopted by
some roads does not remedy the evil, for fre-
quently the difficulty in coupling is such that
there is no other way than to pass between the
cars. There is no question but that the frog
in its present condition without some guard is
barbarous. I hope some action will be taken
to remedy it. If the railroad companies wili
not, the legislature should."

'■■■-■■■ ■ -^^^^m r- iv. ...''.'" -

Sierra Nevada and Consolidated Imperial
Mining Company . ; ;V^, ■

A STATEMENT was recently made that $93,-
000 of the $100,000 levied by the Sierra Nevada
Mining Company on the 29th Dec, and which
became delinquent at the office Feb. 1, had
been paid, leaving only $7,000 to go into the
delinquent list. This is a good showing for
any mine at any time. It is particularly good
at this time, and is especially noteworthy in
the case of the Sien'a Nevada Mining Com-
pany, which has made such frequent and
heavy drafts on the patience and purses of
stockholders during the past three or four
years. During the four years ending May 1,
1881, this company levied twenty assessmeLts
aggregating $2,750,000. Since then, including
the pending assessment, it has levied four
more, each one being $100,000, making twenty-
four since May 1, 1877, the whole aggregating
$3,150,000, all of which has been paid out for
labor and other expenses, together with the
value of the bullion produced during the in-
terval. It must have cost nearly $5,000,000 to
have kept the Sierra *Nevada Mine in operation
during the past five years. All the assessments
levied in these days are not paid so promptly.
An illustration of this is found in the Consoli-
dated Imperial. This company levied an
assessment of 10 cents per share on the 4th of
January. There are 500,000 shares in the cap-
ital stock, which is the largest number of any
mine on the Comstock Lode, except the Cali-
fornia and Consolidated Virginia. This assess-
ment became delinquent at the office yester-
day, and the delinquent list is published in a
morning paper, filling nearly five of the long
columns of that paper. This shows great de-
lay in the payment of the assessment, if
not absolute refusal on the part of very many
of the stockholders. In fact, there is not
much encouragement to pay up. The stock

has been selling of late, in a limited way, at 5
cents per share. After the assessment became
delinquent there was one sale recorded at 15
cents, but yesterday the assessment-paid
stock was sold for 10 cents, or just the price of
the assessment. Unless there is some change
for the better very soon, it is feared that a
large portion of the stock will be forfeited to
the company for non-payment of the assess-
ment. — San Francisco Bulletin. - , ...

A LADY, stepping into a railway car, said to
her little son, " Aren't you going to kiss your
mother before you go?" The little rogue
couldn't wait, and called out, "Conductor,
won't you kiss mother for me ?" i„-

AMERICAN RAILROAD JOURNAL.

119

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Payments for advertising and subscriptions should be
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Ax the annual meeting of the American Railroad
Journal Co., held at the ofllce of the Company, No. 284
Pearl street. New York, February 8, the following ofll-
cers were elected :

• GEO. F. SWAIN, President.

S. PROCTOR THAYER, Vice-President.
, , EDW. A. WRIGHT, Treasurer.
i CHAS. T. VALENTINE. Secretary.

New York, Saturday, February 25. 1882.

Entered at the Post Office at New York City as Second-Class
Mail Matter.

THE MONEY MAKKET.

TT is easy for a child to look at a cloud no big-
ger than a man's hand as it begins to form
in the sky. There is a certain sense of
pleasure in watching the lightning's play, and
liearing the low rumblings of the thunder
when the cloud is far removed. But when
the cloud in its onward march comes
so near as to roof the head, and darkness
covers the spot as with a pall, and the
lightnings flash into the eye, and the thunders
roar angrily into the ear, and the rain falls in
torrents as if to deluge, then the child with a
sharp cry of terror flies for safety to mother's
arms. When next the child at play sees the
little speck, he will not wait for the storm cloud
to gather over him, but will run for refuge
until the storm is over and the sun shines
again. Men are but children of a larger growth,
and yet, as men, do not always manifest the
corresponding proportion of wisdom shown by
children. There are men in the business world
who many years ago watched the little speck
no larger than a man's hand in the money
market; and, beguiled by the fascination, kept
from under cover until the storm burst upon
them in all its fury, and when they reached
cover it was with wet and soiled garments.
Some of these men have displayed the com-
mendable wisdom of childhood, and whenever
they have seen the small cloud arise, have
hastily placed themselves in a position of safe-
ty. There are other men, however— and these
last are in the great majority— who never profit

by experience, but each recurring storm finds
them exposed, and in consequence they are
broken by the blast, and in being broken break
and pull down others, v '^C, j

It is well at this time, when apparently we
are in no immediate danger, to utter the wam-
ii^ cry that the speck no larger than a man's
hand has already appeared in the sky.

A niimber of specks floating in the sky will
be attracted toward one another and form the
cloud. A number of clouds in the sky will be
attracted to one another.and, forming a pall, will
cover the earth, hiding from human sight all
above and beyond. ' " '

The principle that can be applied in one de-
partment is never found to be out of place or
in opposition to anj' principle in some other
department. Principles always run in paral-
lel lines and never cross one another. Now the
speck in the money market which has been
gathering to itself other specks, which, when
enough are added will form a cloud, is the
abundance of currency experienced last sum-
mer. This abundance made consequently low
rates, and parties whose credit would pass
could not resist the temptation to borrow for
the sake of making a lucky venture. We there-
fore have a feature in the money market to-day
which is ominous of evil. The money not
needed in regular business channels last sum-
mer found an outlet in speculation. Some of
it went into the grain speculation out West and
has not been withdrawn. Some parties who
had not more to send after that they had al-
ready placed have been obliged to sujgpend or
fail, and the outlook is that other failures must
follow.

This grain speculation does not stand alone,
though given the first prominence because
occupying public attention at the present time.
There is another speculation the hidden his-
tory of which has not yet been written. We
have reference to the speculatioti in mining
stocks. As we look over the list reported in
the daily papers we notice a large majority
wfeich do not pay dividends. People buy them
in the hope that a bonanza may be their por-
tion. The number of shares sold precludes the
possibility that the purchasers have paid for
them with their own money. The truth is al-
most self-evident that much borrowed money
has entered into these purchases and the lend-
ers are holding the stock as security. The time
must come when these loans must be paid,
and the borrower, unable to realize on his stock,
will be unable to pay ; and the lender, selling
out the stock to satisfy his claim, will learn that
his securities are no more valuable than paper
sold at so many cents per pound. When this
takes place the market for business notes will '

be disturbed. It is safe to stjite that a large '■
per cent of the business not«s regularly bought
and sold are but renewals. Here is a firm doing
a business requiring a million dollars, having
but a few hundred thousand dollars capital
of their own. They place on the market their
six months' notes to the amount of five hun-
dred thousand dollars in monthly installments
of a hundred thousand dollars each. At the
end of the fifth month they have the whole
amount placed. During the sixth month they
issue another hundred thousand dollars worth
to take up the hundred thousand falling due;
and so on, month by month. They never re-
duce this floating indebtedness, content to pay
the market rate f or discoxint and the one-fourth
per cent commission to the brokers. Tighten
the money market by a break in a grain spec-
ulation, or a falling out of the bottom of stocks
held as securities, and these merchants are go-
ing to find it hard work to rei>lace their old notes
with new ones. The lenders need the money
themselves. The speck no bi^er than a man's
hand was tBe low rate of interest last summer
because of the abundivnce of money, and it has
already attracted to itself the other specks of
grain speculation, gambling in mining stocks,
and an undue expansion of business on bor-
rowed money. How many more specks are
necessary in order to make a cloud, no man can
foretell. The wise man, however, will see these
and get under cover while he is safe.

THE NEW TBUNK-IilNE COMMIS-
SION.

'T^HE railroad war that has raged for the past
seven months seems to be settled at last.
Under the new arrangement both tonnage and
money receipts are pooled and divided by a
commission chosen by the great trunk lines.
With this commission each road deposits a
fixed sum of money as a penalty to be forfeited
in case of the violation of the agreement. A
new feature is the power given to the commis-
sion to give judgment against an oflFending
member of this voluntarj- association and a
modification of the clearing-house system, by
which the due proportion of the business will
be given to each road, may be expected. An
effort will also be made to cut off the numerous
freight agencies, by which competition has been
ruinously stimulated. . -

The commission as selected by Albert Fink,
the so-called commissioner of the railroad
trunk lines, is beyond praise. Probably no
private citizen of the United States ever had
to make appointments of such importance; and
although it may seem strange that he should
let the Empire State go unrepresented, the
wisdom of his choice, cannot be questioned.

^iA.i

.■:.^^miJ Iti..* liiil iV.

«.Abd^>.>

120

T»wf^f^PI'?W!?W*r

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AMERICAN RAILROAD JOURNAL.

The men appointed are Judge T. M. Cooley, of
Mii'bigiin, the well-known authority on consti-
tutional law, ex-Senator Thurnian, of Ohio,
find Elihu B. Washburne. of Illinois. This
eomiuission, which takes a prc-sidential can-
didate frt)ui each i)t)litical party, would seem
to be able to settle all disputes between rail-
road companies. . J I i

The appointment of this commission might
be instanced as example of the inadequate-
ness of our whole judicial system, when in-
terests of such magnitude are frightened at the
"law's delays " and establish their own tribu-
nal. When a Justice of the Supreme Court of
the United States who has been physically
unable to sit njion the bench for two years
past insists upon being i)ensioned before he
will resign, although the court is several years
behind with its cases, then it chooses those
who cjin afford it to make courts of their oMn.
The appointment of the commission is a' far
more creditable exhibition, considered as an
indication of the capacity of our people for
self-government. When great corporations
representing enormous aggregates of capital
voluntarily entrust the settlement of their dis-
putes to a tribunal of their own choice the
spectacle is an impressive one. - [ ... {•

Althoiigh the new commission wiU compare
favorably with our Supreme Court at Washing-
ton, its jurisdiction is practically confined to
matters in dispute between railroads them-
selves. It does not take cognizance of a multi-
tude of important questions arising between
private citizens and railrt)ad coii^orations.
Through rates aye to be considered; but is there
no tribunal to inquire why "human life is so
cheap" upon railroads? As long as it is
cheaper to hire new brakemen to replace those
killed than to adopt new appliances, there are
some railroads that will take little or no pre-
cautions until compelled to do so. State rail-
road commissioners, with reasonable, not
oppressive, authority are needed in every State
in the Union, and the sooner such boards
are created in States without them the better
it will be for railroads and citizens alike.
' It is worth while, in this connection, to ex-
amine the relation which has existed during
the past seven months between cost of trans-
portation from the interior to the seaboard
and the price of provisions at Eastern ports.
According to the theory of the anti-monopolists
this reduction of freights ought to have been
of great advantage to producer and consumer.
But the trade returns of the country show that
our sales of breadstuffs and other great staples
have greatly fallen off during this period of
low freight rates. During the first three
months of 1881 the domestic export increased

over that of the previous year, during the

summer it was nearly stationary, but in the last

four months of the year it fell off $61,000,000^

so that the comparison of our international

commerce with 1880 stands as follows :—

1881 1880

Exports $883,51 4.129 $889,683,422

Imports 670,117,903 696,807,176

— — •.

Balance $163,396,222 #192,876,246

Short ci-ops have had something to do with
this decline in exports, and wild sjieculation a
great deal more, but the fact remains that the
cost of transportation is not the sole factor but
one of many elements to be reckoned in con-
trolling the foreign market, and the price even
at eastern ports.

ATLANTIC AND PACIFIC RALL-

ROAD.

'T^HE Atlantic and Pacific Railroad Company
was organized under an act of Congress
passed In 1866 to construct a road from the
southwest corner of Missouri to the Pacific
Ocean, along the 35th parallel of latitude.
Authority was given to the Southern Pacific
Railroad to build the San Francisco end in
California, the meeting point being designated
at the Colorado River. The Southern Pacific
was a California corporation ; and the South-
west Pacific, a Missouri corporation, was expect-
ed to form the St. Louis connection so that it
provided for a line between St. Louis and San
Francisco composed of three links, the central
one over the Territories being a United States
coi*poration. The Atlantic and Pacific was
consolidated with the Missouri company, and
after leasing the Missouri Pacific seems to
have gotten into trouble, so that the Missouri
end of the line was sold out and re-organized.
About this time the Atchison, Topeka and
Santa Fe, a Kansas corporation with abundant
ambition and designs in California and Mexi-
co, seems to have entertained the idea of
strangling the Atlantic and Pacific as a compet-
itor and diverting it from its original jiurpose
so as to become a mere feeder and extension of
its own line from the Rio Grande into San
Francisco. A very curious agreement was
entered into between the Kansas company and
the Missouri companies to divide the owner-
ship of the Atlantic and Pacific evenly between
them, the precise consideration for which is
not apparent. One feature of the transaction
is noticeable : it was stipulated that the Atlan-
tic and Pacific west of its intersection with the
Santa Fe road near Albuquerque should be
completed at once as far as the Pacific Ocean,
at the ^oint expense of the two companies, and
that it should be worked under a traffic agree-
ment for thirty years; at the same time making
the building of the portion east of Albuquerque

conditional upon the consent of both com-
panies. This was, in effect, tying up the longer
eastern portion of the road so as to allow the
business of the western portion, including the
overland traffic, to be diverted to its rival ; and
in practice it resulted in taking away the
greater part of the benefit from the St. Louis
end of the line, although it was ecjually sus-
taining the obligations of construction. ;,.: .

Some suspicion of the inequity of this trade
seems to have dawned upon the St. Louis own-
ers, but to all their appeals and protestations the
Santa Fe company turned a deaf ear, or pointed
to the terms of the agreement. In this dilem-
ma the large stockholders offered to the owners
of the Santa Fe to either buy out or sell out
the other half of the Atlantic and Pacific, as
harmony was no longer possible. The Santa
Fe people, whose headquarters is in Boston,
would do neither— nothing would satisfy them
but the pound of flesh bargained for — expect-
ing doubtless to make better terms. |: ■•

The St. Louis comjjany, whose headquarters
is in New York, do not seem to have been
shut up to this alternative ; for though they
could not dispose of their half interest in the
Atlantic and Pacific to outsiders, they could
sell the controlling interest in their own road—
the St. Louis and San Francisco. Messrs,
Gould and Huntington became the purchasers,
and the Boston parties were taken by surprise.
The Boston papers announce — and we see the
St. Louis journals echo without reflection the
statement — that the tei'ms of the agreement
made some years since will be carried out.
This, we venture to say, is extremely improb-
able, so far as concerns the extension between
Albuquerque and, San Francisco. It is doubt-
less true that the southern branch to Ft.
Smith, Ark., will be completed and the right to
continue on down to Texas procured, but not
to connect with the Texas Central, as was
originally contemplated. We hear it stated
that Mr. Huntington will demand that the con-
tracts of the company he now in part directs
shall be modified so as to conform to the re-
quirements of the acts of Congress, to justice,
and to good sense. The Southern Pacific will
complete the line from near Tehachapa Pass
to the Colorado River, some 300 miles, and
will insist that the Atlantic and Pacific shall,
after meeting there, stop. This is all the law
calls for, and it would be a great waste of
money to parallel 650 miles of the Southern
Pacific for no other purpose than to carry out
this designing scheme of the Santa Fe com-
pany. There are too many gi-eat corporatiors
concerned in seeing the balance of power kept

undisturbed to permit this to be done ; and ti
is safe to predict that the Boston party will

' .aJL^ie'a,:

AMERICAN RArLROAD JOURNAL.

121

find some tenns for settlement, as they have all
to lose and nothing to gain by protracted litiga-
tion.

THE CENTRAL RAILROAD OP NEW

.•■ •';:^:v- ■■: JERSEY. ••;• :,./.;: ■■.•'.-. ■,

A N interesting contest is pending for the
■^ *■ control of the Central Kailroad of New
Jersey, in which seveml larger concerns are
participants. Among the persons may be men-
tioned Mr. Gowen, of the Philadelphia and
Beading, Mr. Garrett, of the Baltimore and
Ohio, Mr. Vanderbilt, of the New York Central
and Hudson Kiver, Mr. Koberts, of the Penn-
sylvania, Mr. Gould, of the Wabash, St. Louis
and Pacific, Messrs. Taylor and Sloan, of the
Delaware. Lackawanna and Western, and the
party behind the receiver, who are, in a sense,
in possession, and which consists of Messrs.
F. S. Lathrop, J. T.Johnston, F. T.Frelinghuy-
sen, J. S. Kennedy, and a few others. The sit-
uation is as interesting to the railroad strategist
as to the public. The Central Railroad of New
Jersey as it stands to-day is not much of itself,
nor of great extent even with its branches and
controlled lines, but its position is one of great
importance. Although it is essentially only a
coal road between New York Bay and the an-
thracite regions, with a more or less valuable
local suburban tnvvel in addition, it enjoys
absohitely the finest water front of any of the
great roads centering in New York. Besides
this it forms part of a short line not much used
to Philadelphia; also of a line not at all used to
the Southwest via Allentown and Harrisburg ;
also of a line but little used to the Northwest
via Elmira and Buffalo, and what is and must
be the best line to the Jersey shore summer re-
sorts, of which Long Branch is chief. In a
word, the Central of New Jersey, by its termi-
nal on New York Bay, by its stem end lying
across the State of New Jersey along the line
separating the mountainous from the flat part,
and by its extension into the coal-fields, is in
an admirable position to become the trunk-
line of a great system of inland transportation,
if it is not to become absorbed in some other
and stronger system. The struggle promises
to become intense ; and as the forces are so
powerful and evenly balanced that no one can
overcome all the rest, it may result in a con-
tinuance ef the deadlock and harmless neu-
trality, much like the position of Holland or
Belgium among their colossal European neigh-
bors.

Before glancing at the several things which
may happen in future, it may be well to turn
and see what has been done, or rather failed to
be done, in the past. Never was there a prop-
erty of the size and capabilities which suffered
so much from incompetent and feeble manage-
ment. To go no further back than to the close
of the war, when it had acquired its grant of
riparian rights on the Jersey shore of the Hud-
son, there have been several things which ought
to have been done which were not done, and
some done which should have been omitted.
The following, among many, may be noticed.
At that time the Lehigh Valley railroad formed
the coal-field connection ; instead of consoli-
dation with that road, of which the late Mr.

Packer was owner, his overtures were rejected,
and the result has been a duplication of the
Lehigh Valley north of Easton, the two roads
lying side by side on the opposite bank of a
narrow stream. As might have been antici-
pated Mr. Packer met this move with a dupli-
cation of the Central line south of Easton, the
freight tracks being laid via Bound Brook to
Amboy, the Pennsylvania being used for New-
York business. Similarly the Delaware and
Lackawanna then used the Central for its New
York traffic, which was large. Here, again,
offers for consolidation were refused, and
another great coal company driven to a lease of
the Morris and Essex, and the construction of
a low grade road to Hoboken. Both of th'sse
great interests might have been united with the
Central. Instead of being repulsed they should
have been foreseen and promoted by its man-
gers, if the officers can be so called.

Still later, when the Pennsylvania took in the
Camden and Amboy system at a rental of ten
per cent upon the capital, and allowance for
betterments, thus depriving the Allentown line
of through traffic (short line) instead of secur-
ing the then feeble line between Allentown,
Reading and Harrisburg, and prolonging them
to Hagerstown or Pittsburg, the Central direc-
tors allowed these lines to go into the hands of
the Philadelphia and Reading. Again, when
the Philadelphia parties controlling the North
Pennsylvania, proposed to use it as part of a
line to New York, by building the Bound Brook
connection, instead of seizing that link, or
uniting the whole three interests, they mani-
fested indifference, and the line was built by
Philadelphians and ultimately passed under
the control of the Reading Company. What
wonder that President Gowen desired to either

possess this New Jersey connection or have it » there ia no great disparity in their financial

pass into the hands of those who knew how to
put it to some appropr'ate use ! - i- ~ i

Within two years President Garrett of the
Baltimore and Ohio Railroad, finding an inde-
pendent entrance to New York a necessity,
abandoned the Pennsylvania route and started
a through line over the Central and Reading
Bound Brook route. All through this contest
the officers of the Central have acted as if they
feared the Pennsylvania, and dared not enter
into any alliance which might provoke it,
although it was at the same time opposing
them at many points, and notably their attempt
to build a bridge across to Jersey City. In
short, Mr. Garrett was not supported, and to
this may be in part attributed his subsequent
loss of the Philadelphia. Wilmington and Balti-
more line, which the Central and Baltimore
and Ohio together could have paralleled if they
could not buy. - v^ ' >'^ i .

Nor was the administration of its local affairs
any improvement on that of its foreign rela-
tions. Its 50(1 acres of unrivalled terminal
were allowed to lie comparatively' unused when

for its passengers might have been had, having
Newark as one of its stations, and thus have
delivered back blows at its rivals. Whether it
was supineness, stupidity, or the presence in
its board of persons who were also officers of.
and under obligations to, the Pennsylvania
need not be discussed : the Central's career has
been one of lost opportunities and failures.
Nevertheless its magnificent water front re-
mains, and something might yet be done for
the property with a change of managers. Some
of the lost ground never can be regained: let us
see what remains now to do.

First of all we set down the proposition, at
one time formed, of making the Central the
New York approach of the Wabash and Pacific
system, as a barren one, which might as well
be abandoned. The Wabash points towards
Buffalo, and Mr. Gould has as much interest in
the Lackawanna extension to the latter point
as he has in the Central, if his ownership in
either at a particular moment should mean
anything. Mr. Garrett wants the Central as a
part of his Baltimore and Ohio system, for
which it has many attractions, but he requires
the consent of the Reading to the portion be-
tween Bound Brook and Philadelphia, or be-
tween Allentown and Hagerstown, which
neither Mr. Gould nor Mr. Vanderbilt will
favor. This, then, may be dismissed also, at
present, as too many adverse interests oppose.
Mr. Garrett having to build half the distance
between Philadelphia and New York, may as
well build across New Jersey also, and in
arri^-ing at the Hudson will find the Lehigh
Valley Companj' with a shore privilege almost
equal to that he now covets. As to the Read-
ing designs, it is quite clear that the two sys-
tems touch and compete at several points ;

conditions, and they can be worked together.
The Lehigh Valley, however, intervenes and
ought for obvious reasons to be included in any
new combination. r . -

A confederation of these three properties, on
terms of equity, would present a formidable
front, and ought to be attempted in order to
avoid serious complications. The extension of
the Lehigh Valley beyond Elmira affords the
New York Central the connection it desires to
the coal regions and Philadelphia. The Harris-
burg and Hagerstown branch would suffice at
present for the Baltimore and Ohio purposes.
A southern prolongation from Wilmington to
Baltimore, under the same auspices, would
complete the circle of defences. It is doubtful
if the present incumbents have either the
sagacity or nerve to bring this about, and it
remains to be seen whether they can be dis-
lodged from their position where they can i)re-
vent others from doing the good they are unable
or tinwilling themselves to undertake. Mr.
Grould, Mr. Keene, Mr. Garrett, or Mr. Gowen
might do something with the property, but the
old set evidently are equal to nothing but
inertia.

•' I HAVE heard/' said Gus De Smith to Mose

dock privileges were scarce and high ; with j Schumburg, '• that the fellow who stole your

ample room its terminal structures are shabby

old sheds, while its alignment is open to great

improvement so as to render its operation more

safe, speedy and efficient. For example, by the

easy construction of a cheap line across the

salt meadows between Elizabeth and the head

of Newark Bay a more direct through route j traveling expenses outen my own pocket."

money and ran off with it has been killed in
Colorado. He has certainly gone to Hades.
You had ought to be glad." " I would pe much
more glad veni got my money pack," responded
Mose ; " it don't do me no good ven dot tarn
rascal goes to dot blace, ven I have to pay his

122

AMERICAN RAILROAD JOURNAL.

Jr-::

PERSON Ali.

Pratt

J. Whitmore has been appointed traffic man-
ager of the Fitchburg Raihoad. I i .

C. H. Parker, editor of the New Orleans
■ Vicaynne, has been elected secretary of the
National Cotton Exchange. i i

James G. Porter, superintendent of the

AVoodstock, Vt., Railrotid, has been elected

treasurer, vice F. W. Clarke, deceased, and

Charles M. Marsh clerk, in place of L. O.

"Greene, resigned. •■:-■; ..:.'• ,rV''v- -^ ■-.: t ;-■'■■' ■'■- '1--;

The officers of the Peabody Institute, Balti-
more, elected on the 13th inst., are : Presi-
dent, Charles J. M. Eaton ; vice-presi
George \V. Brown ; treasiirer, Enoch
secretary, Geo. P. Tiffany.

Hon. John Cessna has been elected president
of the Bedford and Bridgeport Railroad Co.,
r.nd J. N. DuBany president of the Mifflin and
Center County Railroad Co., both branches of
the Pennsylvania Railroad.

C. S. Coone, Jr., general ticket agent for the
Ohio and Mississippi Railroad, was killed on
that railroad on the ITth inst. near North Ver-
non, Kentucky. He put his head out of the
window and it was struck by a bridge.

Charles W. Stevens, formerly of San Fran-
ci.-<eo, died on the 14th inst. at 165 East Twen-
ty-seventh street, New York, where he had been
living for the past four months with his family.
Mr. Stevens was a civil engineer and master
mechanic. He built the first locomotive run
in California, and superintended the building
of the first railroml in Oregon. j |

Hon. Abram S. Hewitt made a short, pithy

speech in the House of Representatives at

Wiishington on Saturday, last, in which he

said in substance : " There are two dollars by

law in this country^a gold dollar and a silver

dollar, the latter worth only 87J per cent as

much as the dollar which is current in the

markets of the world. Commerce, wiser than

Congress, rejects the inferior dollar, and the

consequence is that the dishonest, cheating

dollars continue to pile up in the treasury.

There is only one standard of value— the gold

dollar— and the present silver dollar is fiat

money in its worst shape."

ware City Railroad for the Pennsylvania Rail-
road Company's short cut between Baltimore
and the Peninsula were made on the 18th inst.,
and trains will begin running in a few days.

Ground was broken on the 20th inst. near
Kiamin.s, D^., for the Baltimore and Ohio
Railroad Company's new line to Philadelphia.
Thin is done in compliance with the Dela-
ware charter, which requires the work to be
commenced before the first of March.

Work on the Lake George Branch of the Del-
aware and Hudson Railroad is being pushed
forward, and it is expected that the road will
be in operation by June 1. The Saratoga spe-
cial train which, during the summer, leaves
Troy at 8 A. M., will run through to Lake
George.

John A. Dalrymple, chief engineer of the
proposed Iron Valley and Pennsylvania Line
Rixilroad, has prepared a report of his survey
of the experimental line. It extends from the
southern boundary line of Penn.sylvania, at the
intersection of Big Sandy Creek, to a point on
the Baltimore and Ohio main line near the
mouth of Raccoon creek, a distance of about
forty miles. It passes through a region rich in
coal, iron, fire-clay and timber, and throTigh
large and 'thriving agricultural sections. This
line seems to be a small undertaking in this
day of great enterprises, yet its projectors claim
that it forms a link in what is known as the
West Virginia Central Railroad, designed to
connect with the Kentucky and Great Eastern
Railroad, chartered by the State of Kentucky.

ORGANIZATION.

CONSTRUCTION.

The Montreal and Sorel Railway ia being
rapidly pushed forward, and it is expected
that it will be completed by the opening of
navigation.

The Mexican government having accepted
an additional section of the Mexican Central
Railway, that line was opened for public busi-
ness to the city of Querttaro on the 18th inst.

The last rail of the second track through the
Hoosac Tunnel was laid a few days ago. There
is some ballasting and other work to be done
yet, and the new track will not be used for a
few weeks.

Trains on the Port Huron and Northwestern
Railway commenced running regularly between
East Saginaw and Port Huron on the 14th inst.
Iron on the Sagina'a', Tuscola and Huron Rail-
road reached Sebewaingon the 18th. r

Thk connections on the Newark and Dela-

The directors of the Richelieu and Ontario
Navigation Compan3% elected at Montreal on
the 11th inst., are: Alex. Buntin, Alex. Murray,
Victor Hudon, Adolph Desjardines, R. Cowans,
J. B. Renaud and L. A. Senecal.

The officers of the Schuylkill Navigation
Company, elected on the 14th inst., are: Presi-
dent, Frederick Fraley; Managers, John N.
Hutchinson, Charles W. Wharton, George
Brooke, Charles Bauer, Michael Ward, Thomas
R. Patton; Treasurer and Secretary, Richard
Wilkins. 1- :.-J- : '-•. . -. -

The managers of the Philadelphia and Erie
Ri\ilroad Company, elected on the PJth inst.,
are: J. N. Du Barry, Wistar Morris, Strickland
Kneass, Samuel Gustine Thompson, John P.
Wetherill, N. Parker Shortridge, Henry M.
Phillips, Henry D. Welsh, William J. Howard
and William L. Elkins. .. /-

Af a meeting of the directors of the Atlantic
and Pacific Railroad Company in Boston on
the 10th inst., to ratify and confirm the finan-
cial plan for the extension of the road, B. P.
Cheney, Levi C. Wade and Alden Speare were
chosen directors for the Atchison interest, in
place of Messrs. Coolidge, Wilbur and Lord.

The stockholders of the Cincinnati and Bal-
timore Railway Company met in Cincinnati
on the 15th inst. and elected the following
directors: W. T. McClintock, Robert Garrett,
John Waddle, W. W. Peabody, R. A. Holden,
George Hoadley and B. S. Cunningham. The
board organized ty the election of W. T. Mc-
Clintock, President; C. F. Low, Secretary; and
W. E. Jones, Registrar. - :- .. ■

At the annual meeting of the stockholders
of the Sixth Avenue Railroad Company, held on
the 14th inst., the following ticket, containing
the names of the directors for last year, was
elected: Richard Mortimer, G, W. Burnham,
Frederic De Peyster, Jonathan Thome, T. R.
Butler, Abram R. Van Nest, Henry Demarest,
William Bryce, William Y. Mortimer, Albert W.
Green, Theodore E. Maey, Abijah Curtiss and
Charles G. Landon.

The directors of the Marietta and Cincinnati
Railroad Company, elected at a meeting of the
stockholders held in Cincinnati on the 15th
inst., are: John Waddle, Robei't Garrett, Henry
C. Smith, Wm. T. Burns, W. W. Scarborough,
J. D. Lehmer, R. M. Bishop, George Hoadley,
W. F. McClintock, Wm. Waddle, W. B. Loo-
mis, Theodore Cook, W. W. Peabody. The
directors organized and elected John Waddle
President, C. F. Low Secretary, and Wm. E.
Jones Registrar, ^v.-^ . -■': ■ v .:•;::;[ .>. -

At a meeting of the stockholders of the
Memphis and Little Rock Railroad Company,
held at Little Rock, Ark., on the 15th inst., the
following board of directors was elected : Jay
Gould, F. A. Marquand, Charles Essex, E. K.
Sibley and D. C. Brown. The board then
elected the following officers : F. A. Marquand,
President ; E. K. Sibley, General Manager ;
Thomas Essex, Land Agent; A. H. Calef,
Treasurer; and M. A. Goodwin, Secretary and
Assistant Treasurer.

At the annual meeting of the Indianapolis
and St. Louis Railway Company, held at Indi-
anapolis, Ind., on the 15th inst., the following
directors were elected: J. H. Devereux, S.
Burke and E. B. Thomas, of Cleveland; J. N.
McCuUough and T. L. Messier, of Pittsburg,
and Geo. B. Roberts, of Philadelphia. The
directors organized as follows: J. H. Devereux,
President; Edward King, Sefcretary and Treas-
urer; Russell Elliott, Auditor; C. C. Gale, Gen-
eral Superintendent. , .• / - j

At the annual meeting of the Old Dominion
Steamship Company, held at the Company's
office in this city on the 13th inst., C. P. Hunt-
ington, President of the Chesapeake and Ohio
Railway Company, Geo. F. Tyler, President of
the Norfolk and Western, and John M. Robin-
son, President of the Seaboard and Roanoke,
Raleigh and Gaston and Raleigh and Augusta
railroads, were elected directors in the place
of three resigned. Isaac Bell, M. L. McCready,
John Bodine, Charles P. Fischer, Charles D.
Stockney and E. D. Hitchens were also elected
directors. Mr. N. L. McCready was then
elected President ; Isaac Bell, Vice-President;
W. H. Stanford, Secretary, and W. L. Guillan-
son, Assistant Secretary. This Company re-
cently came under the control of the Chesa-
peake and Ohio system. V ■ V ' ^ ; ■ " 1 :;

The stockholders of the following companies
controlled by the Pennsylvania Railroad Co.
met on the 11th inst., and elected officers
as follows: Pennsylvania Coal Company — Pres-
ident, Isaac J. Wistar; Directors, G. B. Rob-
erts, Isaac J. Wistar, A. J. Cassatt, Strickland
Kneass, Wistar Morris, Alexander Biddle, M.
Hall Stanton, Samuel M. Felton, Simon Gratz,
Edmund Smith, William J. Howard, John P.
Green. Summit Branch Railroad — Directors,

AMERICAN RAILROAD JOURNAL,^

:t'.-

123

George B. Boberts; A. J. Cassatt, Edmund
Smith, Strickland Kneas, J. N. I^uBarrj', N.
Parker Shortridge, John P. Green, Wistar Mor-
ris, James W. Johnson, Edwin P. Worster,
Isaac J. Wistar. Susquehanna Coal Company
—President, George B. Roberts; Vice-Presi-
dent, Isaac J. Wistar; Directors, George B.
Roberts, Isaac J. Wistar, John P. Green, A. J.
Cassatt, Strickland Kneass, Wistar Morris, N.
P. Shortridge, J. N. DuBarry, Edmund Smith.
The same officers as those chosen for the Sus-
quehanna Company were elected to serve for
the year for the Lykens Valley Coal Company
and the Mineral Railroad and Mining Com-
pany. ■.;■;: v.'^:--i-; \, :■::.' . ■■ ~'^^\-'\ry:y''::-\l. -::::::■

The annual meetings of the stockholders of
the Philadelphia and Trenton, the Columbia
and Port Deposit, and the Western Pennsyl-
vania railroad companies — all controlled by
the Pennsylvania Railroad Company — were
held in Philadelphia on the 15th inst., and the
following officers and directors elected : Phila-
delphia and Trenton Railroad — President,
Strickland Kneass; Secretarj', James R. Mc-
Clure; Directors, G. M. Dorrance, G. B. Rob-
erts, Strickland Kneass, Wistar Morris, Alex-
ander Biddle, Henry M. Phillips, N. P. Short-
ridge, J. N. DuBarry, J. V. Wetherill, A. M.
Fox, Edmund Smith and Henry D. Welsh.
Columbia and Port Deposit Railroad — Presi-
dent, Strickland Kneass ; Directors, Jacob
Tome, G. R. Roberts, Edmund Smith, Alexan-
der Biddle, Wistar Morris, N. P. Shortridge, J.
N. DuBarry, H. M. Phillips, A. J. Cassatt, W.
J. Howard, Henry D. Welsh and J. P. Wetherill;
Secretary and Treasurer, James R. McClure.
Western Pennsylvania Railroad— President, J.
N. DuBarry ; Directors, Strickland Kneass,
Wistar Morris, G. B. Roberts, Edmund Smith ;
Secretary Albert Hewson ; Treasurer, Tabor

Ashton.

Underground Telegraph Wires.

The full sum of $5,000 required to lay and
test the underground telegraph wires on the
plan of Charles L. Gore has been subscribed,
and the work will be begun at once. Subscript
tions to the first fifty shares were limited to
two and a half shares from any one person, or
the whole amount could have been obtained
from one of the electric light companies and
from the Mutual District Messenger Company.
The original subscribers, who risk their money
in thoroughly testing the scheme, will be enti-
tled for every share to forty shares of the stock
of the company which will be formed as soon
as the test is made, if it is successful. Among
those who have thus subscribed are Henry W.
Pope, of the Mutual ; Robert Brown, of the
Metropolitan Telephone and Telegraph Com-
pany; George Scott, the electrician ; ex-Judge
Freeman J. Fithian; County Auditor Daniel
Jackson; Adolph Hallgarten and E. W. Sapor-
tas, bankers ; United States Marshall Henry E.
Knox, David Richmond, N. G. Miller. J. N.
Winslow and H. C. Valentine. The patent in
this case was not obtained until after a serious
contest lasting over a year, the application of
Mr. Gore being opposed on the ground that
the material used by him as an insulator had
long been used as an indispensable article to

suspended wires. But the patent was finally
granted on the ground that this was the first
use of material as an insulator. On this plan
the ordinary copper wire used for telegraphic
purposes is made into a cable of any desired
thickness, and each wire is effectually separated
from the others by being run through glass
beads arrai^ed so closely together that the sag
of the wires will not bring them into contact.
They can be inclosed in a ordinary lead pipe,
and laid with or without other cover or protec-
tion. The expense is not over $30 per mile,
while the cheapest submerged or undergrcund
cable has cost $130 per mile. An inch lead
pipe will contain a cable of 45 wires ; a
two-inch pipe, 110 wires ; and so on in propor-
tionately increasing ratio. Permission will be
asked of the Police and Fire commissioiiers to
lay the test wire by the side of the one they are
now testing between their respective headquar-
ters. .■ i.-r- ■■ ''''ii-r::^- '■ •■.-■:■.■:■■■;.-■•? •\.---:^

The Petroleum Market.

The twenty oil producing districts enumer-
ated in Stoweirs Pdroleuia Kejmrter, just re-
ceived, show for January a total production of
2,353,551 barrels, a daily average of very nearly
76,000. The total stock approaches 27,000,000
of barrels. The number of prodticing wells ia.
over 18,000, with 200 new rigs building. The
producing fields of Bradford report a decrease
in the daily average of 5,000 barrels, and of
Alleghany an increase of 1,300. The aggregate
sales and resales at Pittsbui^h, Oil City and
Bradford for the month of January were over
fifty-one millions of barrels, of which the share
of the Pittsburgh Exchange was over twelve
millions. As regards the outlook, the paper
referred to says : \:":-:'::-^'.'.'yr :''■■■:''::■ -::',.

"The Bradford and Richburg fields are now
defined beyond any reasonable doubt by a cor-
don of ' dry holes.' All the present drilling
in outlying localities, notwithstanding it has
been very extensive, has entirely failed to indi-
cate any new field in the producing horizon
within the line of the known fields. Opera-
tions continue to be active, but with all the ac-^
tivity in drilling, and with all the appliances
of pumping and torpedoing, the figures for the
month of January compared with those of De-
cember show the significant decline in the
daily production of four thousand and seventy-
nine barrels. ;•; ;' ;^. . : • v .; . ;

" The Richburg field exhibits all those charac-
teristics of impoverishment of rock and un-
certainty of yield which we attributed to it
several months ago, and on this account its
decline may be expected to be much #aore
rapid than is that of the Bradford field. ^

"From all this condition which at present ex-
ists in the region, we are of the opinion that
the long-expected decline has at last set in,e^nd
(always, of course, unless a new field is discov-
ered) the production must from this time con-
tinue to decline, in spite of the unrestricted
energy of his restless producers to enlarge it.

"The busy season of the year has been closed
and we may reasonably look for diminished
foreign demand for some months to come.
The export for last year has been so far in ex-
cess of its predecessors that we can hardly

look for an increased demand for the present
year. Then, too, our stock of crude oil has
grown so large as at times to be rather burden-
some. It will, therefore, be seen that there is
considerable margin for a decline in the pro-
duction, without materially affecting the price."

The Coal Trade.

The leading coal-carrjing companies make
the following reports of their tonnage for the
week ending Febr\\ary 11, and for the year to
same date, compared with their respective
amounts carried to the same time last year:

• ■ :f- '-. J-.. V. .■;--.-

Week 1882 1881

Reading Railroad.. 92,731 1,464,(M)8 1,246,441*,

Schuylkill Canal 27,656

Lehigh VaUe y 58.997 1 ,092,825 933,.S66

Delaware, Lackawanua and

Western 63,691 406,668 412.532

Shamokin 16,881 103.840 108,f)88

Central R. R. of New Jersey.. 37.7«3 371,401 370,166

United R. R. ot New Jersey.. 22,822 162.697 165.010

Pennsylvania Coal 13,897 97,45« 103,9-.^6

Delaware and Hudson Canal.. 43,006 326,642 344,921
Huntingdon and Broad Top

Mountain 12.742 70.839 49.8.56

Penn. and New York 27,742 288,903 231.744

Clearfield, Pa 40.«il 268,399 191,8'>4

The total tonnage of anthracite coal from all
the regions for the Woik ending February' 11,
as reported by the several carrying companies,
amounted to 323,383 tuns, against 533,943 tons
in the corresponding week last 3'ear, a decrease
of 210,560 tons. The total amount of anthra-
cite mined for the year is 2,447,000 tons, against
2,504,635 tons for the same period last year, a
decrease of 57,6.35 tons. The quantity of bi-
tuminous coal sent to market for the week
amounted to 88,651 tons, f^vinst 70,430 tons
in corresponding week last year, an increase
of 18,221 tons. The total amount of bitumin-
ous mined for the year is 484,666 tons, against
365,526 tons for the corresponding period last
year, an increase of 119,140 tons. The total
tonn^^e of all kinds of coal for the week is
412,034 tons, against 604,373 tons in corre-
sponding week last year, a decrease of 192,339
tons; and the total tonnage for the coal year is
2,931,666 tons, against 2,870,161 tons to same
date last year, an increase of 61,505 tons. The
quantity of coal and coke carried over the
Pennsylvania Railroad for the week ending Feb-
ruary 11 was 198,374 ton.s, of which 138,276
tons were coal and 60,098 tons coke. The total
tonnage for the year thus far has been 1,215,425
tons, of which 865,480 tons were coal and 349,-
944 tons coke. These figures Embrace all the
coal and?\;oke carried over the road east and
west. The shipments of bituminous coal from
the mines of the Cumberland coal region dur-
ing the week ended Februarj' 11 were 41,064
tons, and for the jear to that date 232, 146 tons,
an increase of 88,207 tons as compared with the
corresponding period of 1881. The coal was
carried to tidewater as follows : Baltimore and
Ohio Railroad —week, 34,072 tons ; year, 190,-
937 tons ; increase compared with 1881, 67,220
tons. There were no shipments by canal.
Pennsylvania Railroad — week, 6,772 tons ; year,
40,114 tons ; increase compare<i with 1881, 19,-
891 tons. The Reading Railroad shipment for
the week, ending February 18, was 116,000
tons, of which 13,000 tons were sent to and
13,500 tons shipped from Port Richmond, and
13,270 tons sent to and 14,000 tons shipped from
Elizabethport.— PAi/. Ledflfcr, Feb. 16. '?:->:V, ■:

'"ffifflatr '

124

MERICAN RAILROAD JOURNAL.

:>i-

New York Stock Exchange.

" (Thursday's quotations follow money article.)
Closing Prices Jor the week ending Feb. 22.

- Th.l6.P.17. Sat.i8,M.20,Tu.21.W.22.

Adams Express 145

Albany and Susq 130 130X

Ist mortgage

2d mortgage

American Express.. 91 90 90

Atlantic t Pac. Tel .J ...,. .i...

Burl., C. R. i Nor

Ist mortgage 5b.. 99 J^ 100 993i

Canada Southern . . 50 '» SOJi 51 48 fi 47(4

1st mortgage guar 94 94 93

Central of N. Jersey 92 ^a 92 *i 95 U 95 >i 93 ^^

Ist mort. 1890 115

7s, consol. ass -

78, convertible ass

78. Income

Adjustment 107 IOC 105 104 105 >i

Central Pacific 90?i 90?^ 91|i 90 »4 90 . ...

68, gold 113% .....

Ist M. (San Joaq)

IstM. (Cal. & Or.)

Land grant 6s

Chesapeake & Ohio. 22^ 23^ 22 >i

lst,seriesB 80% 81 80fi 81 80%

Chicago and Alton. 128 >i 129 ^'4 129 130 129 >i

Preferred

1st mortgage

Sinking Fund

Chi,. Bur. & Quincy 133>i 134 135 ,»^ 133% 133)^

7s, Consol. 1903 126^ •

Chi., Mil. & St. Paul 108'^ 108 J^ lOm 108?^ 10T>i .....

Preferred 122 122 122>i

Ist mortgage, 8s 132 >i 134

2d mort., 7 3-108

78, gold 125 >^

Ist M. (La. C. div) 118 117 117

IstM.L &M.div.)

Ist.M. (I. &D.ext.) 116 lloii

IstM. (H.&D.div.) 115%

' l«tM.(C. & M.div.) t

Consolidated S. P 120 120 121 .....

Chi. & Northwestern 133?i 134 134'^ 133^ 131,^ ....,.'

Preferred 142?^ 142,'i 142>i 140 .,.i.

Ist mortgage i .^'.

Sinking Fund 68 ,...!.

Consolidated 7s 125

Consol. Gold bo'ds 124)4 ,

Do. reg

Chi., B. Isl. & Pac. 131 >i 132M 132«4 131%

68,1917, 126 1^ 126% 126%

CleT.,Col.,Cin.&Ind. 79 'i 77 >^ ..". 78

1st mortgage 125

Clev. & Pittsburg gr 132

•78, Consolidated 125 >i

4th mortgage

11% 11

109 108% 108 V,'

Col.,Chi.,&Ind.Cent. 10?i 11

Ist mortgage 130

2d mortgage

Del. & Hud Canal. 107 107

Reg. 78,1891 115 115

. Beg. 78.1884 105%

78, 1894 119

Del.,Lack.& Western 125'4 124% 123?^ 124%' 12:^%

2d naortgage 7s

78, Consol. 1907 130

Erie Railway

1st mortgage

2d mort. 58, ext

3d mortgage

4th mort. 5s, ext. 108 108

5th mortgage

78, Consol. gold.. 130 ...,|....

Great West. 1st mort 1*08 108% ..' .....

2d mortgage 103% 104 104 100 ...

Hannibal* St. Jo.. 91 94 93% 93% 92%...

Preferred 93 99 99% 99% 97 ...

8«. Convertible ^ .

Houston & Tex. Cen 78 75 ,V.

1st mortgage .,.,.;..... ..^

2d mortgage '.

Illinois Central... 131% 134 135% 134 132% ...

LakeShore&MichSo 111% 111 111% 110 110% ...

Consol. 78

Consol. 7s, reg

2d Consolidated 125%

Leb. &W. B. 78, Con

Long Dock bonds

Louisville & Nash. 86% 86% 86% 80% 72%' ...
78, Consolidated 1?1 '4

Manhattan 57 57 56% 56',' 55%...

1st pref 94 94 ...

M^t. Elevated 86 87 87 87% 85%...

Ist mortgage 100% 100% 100% 100% 100% ...

Michigan Central.. 86 85% 86J4 88>i 81% ...

78. 1902 126%

Morris & Essex 122 122% ...

Ist mortgage

2d mortgage... .

78 of 1871 123

78, Oonvertibl*

7a, ConaoliuAted j

34.^ 34% 34

73% 72% 72%

32 30U

N.Y.Cen. &Hud.R. 130% 130% 131*4 130% 129%

6s. 8. F. 1883.. . 103

68,S.F., 1887

1st mortgage

1st mortgage, reg

N.Y. Elevated 107 105

1st mortgage

N. Y. & Harlem

Preferred

Ist mortgage

1st mortgage, reg

N. Y., Lake Erie &W 39>8 39',^ 39*4 38% 37%

Preferred 76 77 76 74,%

2d Consolidated. . 98,% 98% 98% 98 96
New 2d 58 fund 94

N.Y.,N.Hav'n&Hart 171 168 169% 170

North Mo. Ist mort 119%

Northern Pacific .. . 34 34?^
Preferred 73 73%

Ohio* Mississippi. 31% 32

Prelftred

2d mortgage -

Consolidated 79.. 118

Consol. S. Fund

Pacific Mails. 8. Co 41% 42% iny, 42% 41

Pacific R. B. of Mo

Ist mortgage 106% 106

2d mortgage 110%

Panama

Phila. & Reading.. 61 >4 Sl% 61% 58% 57%

Pitt8,Ft.W'.&Chi.gtd ,

Ist mortgage

2d mortgage

3d mortgage 132% ,

Pullman Palace Car 134 136 f34% 127

Quicksil'r Min'g Co 12% 13 12%

Preferred 60

St. Louis & San Fran 39 38 J^ 37% 38% 38

Preferred 51% 53% 53%

l«t Preferred 90 90 89% 86 84

St. L., Alfn & T. H. 33 32 31

Preferred 82% 84 78

1st mortgage

2d mort. pref 105%

Income bonds

St. L., Iron Mt. &S

1st mortgage. 115

2d mortgage 108 107% 107

Toledo and Wabash

Ist mortgage 1 10

2d mortgage .' ,

7s, Consolidated 100 ,

St. Louis Division 108

Union Pacific 117% 117% 118 117 116%

1st mortgage 116% 116% 116 '^ 115

Land Grant 7s 116 116% ;.... 115% ....

Sinking Fund 8s

United States Ex... 76 74 75%

Wabash, St. L.& Pac 32% 32 32% 31% 28 J,

Preferred 59% 59% 60 Vj 58% 55

New mort. 7s

Wells-Fargo Ex 126 128

Western Pacific b'ds 109%

Western Union Tel. SO^g' 79% 79% 79% 78%

7s..S.Fconv.,1900 118 118

Fkdebal Stocks : —

U. S. 4s, 1907, reg... 117% 118 117%

U. 8. 4s, 1907, coup. 117% 117% 118

U. S. 4^8, 1891, reg. 113% 113% 113%

U.S.4%8, 1891, coup

U. S. 5s, 1881, reg

U.S. 5s, cont'd at3% 101% 101% 101%

U. S. 6s cont'd at33i

Dt. of Col. 3-658, reg

Dt.ofCol.3-658,coup 106%

Boston Stock Exchange.

Prices for the Week Ending Feb. 21.

Th.l6 F. 17.8at.l8.M.20.Tu.2l.W. 22.

Atch.,Top.&San.Fe. 84% 35% 85 84% 84^.'

1st mortgage 118 118

2d mortgage

Land Grant 78 115 114%

Boston & Albany 167

78 reg 127

Boston and Lowell 101 100 100%

Boston & Maine 146 146

Boston* Providence 166

Bos'n,Hart.&Erie7s 54% 56% 56% 55% 55%

Burl.& Mo.R.L.G.78

Burl.fc Mo.R.inNeb ,

6s, exempt

Chi.,Burl. & Quincy 134% 134 136% 134 133
7s

25% 23%

Cin.,Sand&Clev($50) 24%

Concord($50)

Connecticut River

Eastern 33 34% 35 33% 34%

New 4% Bonds... 109 109 108%

ntchburg 135 135% 135

N.Y. & New England 51% 51% 53 52% 51

78 116% 116% 116%

Northern N.H 109 107 . .-.

Norwich* Worcester 155 ....

Ogden * Lake Cham 34

Preferred

Old Colony 125% 126 125% 126 125

Ph.,Wil.&Balt.($50)

Portl'd.Saco* Ports

Pueblo & Ark Val

78 114% ..._.

Pullman Palace Car 136 135

Union Pacific 118 116%

6s .. 115% 114%

Land Grant 7s

Sinking Fund 88.

Vermont * Canada

Vermont & Mass

Worcester & Nashua 59

Cambridge (Horse) 120 120

Metropolitan(Hor8e) 76

Middlesex (Horse)

Cal.&HeclaMin'gCo 231 231 231% 232%

>^ 42% 43 43 43

Philadelphia Stock Exchange.

Closing Prices for the Week Ending Feb. 21.

W.15.Th.l6.F.17. Sat.18. M.20 Tu.21

AUegh'y Val. 7 3-108 121

7s, Income 55% 65 65%

Buff., Pitts & West. 18% 18 17% 11% 16

Camd'n & Am. 68, '83

68,1889 108

Mort. 68, 1889 114 114

Camden & Atlantic 35

Preferred 39%

let mortgage 118%

2d mortgage

Catawissa 17 17

Preferred 55 55

78, new

Del. & Bound Brook

Quincy 41;^

125%

Elmira&Williamsp't
Preferred

Hunt. & B. Top Mt, ..,-.-. 13 14

• Preferred ......' 27 2«J%

2d mortgage

Lehigh Navigation. 4:^% 42% 43% 43% 43% 43%

68,1884 105% 105%

Gold Loan 111%

Railroad Loan

Conv. Gold Loan

Consol. Mort, 78. 116% 116% 116%

Lehigh Valley 82% 62% ' 62% 62%

1st mort. 6s, coup • 123% 122%

Ist mort. 68, reg

2d mort. 78

Consol mort. 6s

Consol. mtg.68,reg

Little- SchuylkiU 67

Minehill&Sch.Hav'n 62 62

North Pennsylvania

1st mortgage 68

2d mortgage 7s

Genl. mtg.78,coup

Genl. mtg. 78, reg

Northern Central.. 50% 50 50 50% 50% 50%
58 97%

Northern Pacific... 35% 34% .34% 34% 34 34

Preferred 72% 73 73 73% 72% 72%

Pennsylvania R. B. 60% 60% 60% 61% 60% 60%

Ist mortgage

Gen'l mort

Gen '1 mort reg

Consol. mort. 6s 118

Consol. mort. reg

Pa.Stale 68 2d series

do 3d series

do 5s, new

do 38

Phila. * Reading. . . 30% 30% 30% 30% 29% 28%

Ist mortgage 6s

7s of 1893

7s, new convert 73

Consol. mort. 78

Consol. mort. reg

Gen'lmort. 6s 96% 96 96% 96 95

Philadelphia * Erie 15% -15%

Ist mortgage 58

2d mortgage 78... 114 114 114

Pitt8b.,Cin.&St.L.78 120

Pitts.,Tit.&Buff. 78. 94

Schuylkill Navi't'n 12%

Preferred 13 12% 12%

6s, 1872 107 107

68,1882

UnitedCo. ofN. J.. 186% 186% 186

Hestonville, (Horse) 17 ....

Chestnut* Wal. (do). .jiki.v-««44i> w>>. 90

I'iroen & Coate8(do) ■••.^

AMERICAN RAILROAD JOURNAL

125

Baltimore Stock Exchange.

'.; Closing Bricet for the Week Ending F^b. 21. *" '

W.15.Th.l6. F.17. Sat.l9. M.20.Tu.21

Baltimore & Ohio.. 195 195

68.1880

68,1885 107 .'i .>.^., .....
Central Ohio (f 50) ..... *4 ..•.•

Ist mortgage 110 ll">i

Marietta & Cincin'ti •••••

Ist mortgage. 78 125 125

2d mortgage, 78.. lOl^ii 104?^ 105 105\i ..... 105

3d mortgage, 88.. 56?^ 55?^ 57 >i 673^ 58 56>j'

Northern Cen. ($50) 50 50^ 50^ 57

2d mort.. 68 1885.. 105 >i 106

3d mort., 68, 1900

68, 1900, gold 11* 11*

6s, 1904, gold

Orange & Alex. Ist

2d mortgage, 6s

3d mortgage, 88

4th mortgage, Ss

0.,Alex.&Mana8'8 78

Pitt8.& Connellsv.78 122

Virginia 68, Consol 63 62 613^ 61 >^ 61 >^

Consol. coupons 63 63^

10-40 bonds 40 *0

Defd Certificates

Western Maryland l^X

l8tM.,end.byBalt

2dM., do 116 120

3dM., do 128

l8tM..unendor8'd

2dM.,end.WashCo

2d M., preferred

City Passenger R R 41J^

Iiondon Stock Exchange. •

..'■',.?•-, ^ r;f.;>-^ '".w' -■■ Closing

Jan. 27

Baltimore k Ohio (sterling) 114 116

Central of N. J„ $100 shares .... 93 98

Do. consol. mort 114 116

Do. Adjustment Bonds 104 109

Do. Income Bonds 104 107

Det.,G'd Haven & Mil. Equip bdsll2 114
Do.Con.M.5p.c.,tiU'83aft'r6p.cll0 112

niinois Central ?100 shares 136 J^ 137 >i

Lehigh Valley Cons, mortgage.. 115 119

Louisville k Nashville mort 68.105 107

Do. Sink. Fund bds (S.&N.Ala)102 104

Do. capital stock $100 shares. 97 99

N. Y. Cent. & Hud. B. mt. bds. .134 137

Do. $100 shares 1333i lU^

Do mort. bonds (stg.) 120 122

N.Y.,Lake Erie & West., $100 she 40 J^ 41,'^
Do. 6 p. c. pref. $100 shares . . 82 84
Do. Ist Con. Mort. bds (Erie) .131 13?
Do. do. Funded Coupon bds. 127 129
Do. 2d Consol Mort. bonds ... 101 . ia3
Do. do. Funded Coupon bds. . 97 100

Do. Gold Income bonds 93 95

If.Y.,Pa.& Ohio Ist mort. bonds. 45 >^ 46'/i
Do. Prior Lien bds (sterling) . .104 108

Pennsylvania, $50 shares 62 63

Do. Con. Sink Fund Mort. . . .117 120
Philadelphia k Reading $50 shs 32'.; 32?^

General Consol Mortgage 116 118

Do. Improvement Mortgage. .103 105

Do.Gen.Mtg.'74,ex-dcf d coup.lOO 102

Do. Scrip for the 6 def. ^ coup. 94 98

Pittsb.,Ft.W. &Chi. Eq. bds.... 105 109

St. L. Bridge 1st mort. gold b'd . 126 128

Do. Ist pref. stock 95 98

Union Pa. Land Grant Ist. mtg.117 119

Wabash, St. L. k P. $100 shs 36 37

Do. $100 pref. shares 68^^ 69?i

Do. gen. mort. bonds 91 93

Prices

Feb. 3.
114 117

93
115
104
104
112

138
115
105
102
97
134

99
116
108
107
114
112
140
119
107
104

99
137

133 >^ 134 >i

119 121
40»i 4134
80 82

131 133

127 129

100 >i 101 >i
97 100
93 95
44 >i 45 >^

104 108
62^ 63>i

116 118
32

115

102

100
93

105

126
95

118

32^
117
104
102

97
109
128

98
118

36H 37K
68 >i 69 1^
87 89

AMERICAN RAILROAD JOURNAL.

Financial and Commercial Review.

Thitrsday Evening, Feb. 23, 1882.

In the money market this morning 5@,6 per
cent was the quotation for call loans on stocks,
and 2J@3i per cent on United States bonds.
In the afternoon the stock brokers paid as high
J of 1 per cent per day commission for loans in
addition to 6 per cent.

One of the prime drawers of sterling this
morning marked posted rates up to 4.86J@4.-
90J. All the other prime drawers had as their
posted rates 4.85^@,90 ; the actual rates were
4.84a@4.85J and 4.89.]@|, with cable transfers
4.90^@|, and prime commercial bills 4.83@J.
At the close the actual rates for prime bankers'
Sterling were 4.84t@4.85 and 4.89|@4.89^.
The actual rates for Continental bills are as

foUows : francs, 5.13|@5.13f and 5.18a@5.20 ;
marks, 94^@| and 95^@|, and guilders, 40

@40|. -r^is\-/,.,v.v...,:e^-;;::-V ■ ^:-; •; ■' .:.:.-i ' '

The Virginia Debt Refunding bill, which
recently passed the General Assembly of that
State, has received the signature of the Grov-
ernor, and is now a law. According to this bill
the State of Virginia acknowledges two-thirds
of the debt, and declares that West Virginia is
responsible for the other one-third. It is
understood that the holders of the bonds in
question intend to contest in the courts the
validity of this mode of settlement of the
State debt, and that, with that end in view,
Wm. L. Royall, formerly of Richmond and
now of this city, has been employed by the
English bondholders to institute the necessary
legal proceedings.

The recent act of the Legislature of Ten-
nesee to settle the debt of that State at par and
three per cent interest— the coupons receivable
for taxes for 99 years— having been declared
invalid and unconstitutional by the Supreme
Court, application «\'as made by counsel for
the funding board soliciting the Court to so
modify the decree as to permit the issue of
bonds without the tax coupon feature. This
motion the Court also declined to allow. The
case is thus finally disposed of, and the fund-
ing of the State debt cannot be accomplished
except by further Legislative action.

At a special meeting of the stockholders of
the National Car Company, held at St. Albans,
Vt., on the 16th inst., it was unanimously
voted to issue $1,000,000 of new stock and
$800,000 of 6 per cent lO-year bonds. The
stock and bonds are to be issued to stockhold-
ers of the record of March 15, pro rata, at $75
per share tor stock, (par value $100, ) and the
bonds at par, but both to be taken if either.
The proceeds are to be used in building 2,000
new 34-foot 20-ton cars, which are needed by
the new Canadian combinations forming a line
to Ottawa, Georgian Bay, and the West, and
also in erecting car-shops for the company, the
location of the car-shops to be determined
hereafter. "'^''^,;v '.■;;■.; »i-5.,. ;,. : .■-^.,:a :. :v ::";.; '■: t

The American District Telegraph Company
has notified the Stock Exchange of its intention
to increase its capital stock from $2,000,000 to
$3,000,000 and to change the par value of the
stock from $25 to $100. !

According to the report of Joseph Nimmo,
Jr., Chief of the Bureau of Statistics at Wash-
ington, the total values of the exports of do-
mestic breadstufiEs for the month of Januarj ,
1882, were $11,928,992, against $14,929,406 for
the month of January, 1881 ; and for the seven
months ending January 31, 1882, $124,072,907,
against $168,509,508 for the corresponding
period of the previous fiscal year. The total
values of the exports of domestic provisions,
tallow and dairy products for the month of
January, 1882, were $13,199,531, and for the
month of January, 1881, $15,218,282. The total
values of the exports of provisions and tallow for
the three months ended January 31, 1882, were
$31,984,298, and for the same period in 1881,
$38,551,058. The total value of the exports of
dairy products during the nine months ended
January 31, 1882, were $16,334,511, and during
the same period in 1881, $21,108,156. v^.; •;

Albany (N. Y.) county bonds, payable in
1899 and bearing four per cent interest, were
recently sold to the amount of $50,000, and
brought 6 J per cent premium for $10,000
worth, apd 6J per cent premium for the re-
maining $40,000. Ulster county five percent
funding bonds, to the amount of $100,000, were
also sold for nu@112i: and $25,000 of King-
ston city funding bonds, bearing four per cent
interest, 104|@104f. ; -^ : .- *

Twenty-three deeds were filed with the
county clerk of Erie county, at Buflfalo, N. Y.,
on the 17th inst., conveying property valued at
nearly $160,000 to the New York, West Shore
and Buffalo Railroad Company. I ' r- : '

The report of the Northern Central Railway
Company, prepared for presentation to the
stockholders at their annual meeting held this
day in Baltimore, shows that the revenue from
the main line and leased and controlled roads
for the j^ear ending December 31, 18H1,
amounted to $5,443,700. The operating ex-
penses were $3,787,445.91, leaving the net
earnings $1,656,254.09, a decrease of $138,864.-
75 as compared with 1880. Aft^r deducting
interest, rentals and surplus from the opera-
tion of the Elmira, Chemung and Canandaigua
division, paid to the Pennsylvania Railroad
Company, the amount carried to the credit of
profit and loss, including the balance of the
same account the previous year, was $305,696.-
75. The tonnage of the main line increased
271,352 tons.

The foreign exports from Philadelphia dur-
ing January were valued at $3,094,375, an in-
crease of $807,787 over the total for the prev-
ious Januarv.

The deed of the Richmond and Danville
Railroad Company to the C-entral Trust Com-
pany of New York, conveying all its property
to secure debenture bonds, issued to pay sub-
scriptions to the Terminal Company's stock
has been recorded in the clerk's office of the
Chancery Court at Richmond, Va. It is for
$4,000,000, and the tax thereon was $4,000.

The Supreme Court of Tennessee has denied
the motion of the State Funding Board, asking
it to modify the injunction so as to permit the
issue of bonds without the tax coupon feature.
This ends the matter, and funding cannot be
accomplished except through the passage of
another bill by the Legislature. *

According to the report of George M. Dallis
Master, the cash receipts of the Philadelphia
and Reading Railroad Company for November,
1881 (including the balance from October, of
$591,583.83), were $3,453,666.06, and the ex-
penditures $2,776,538.89, leaving a balance of
$677,127.17. For the month of December, the
receipts of the Railroad Company (including
the above balance from November) were $3,614,^;
343.27, and the expenditures $3,138,469.55,
leaving a balance of $475,873.72. The deferred
income bond account showed a balance at the
close of each month of $277,568.68. The total
receipts of the Coal and Iron Co. for the month
of November (including the balance of $99,«>
798.31 from October) were $1,530,580.86, and
the expenditures $1,514,534.60, leaving a bal-
ance of $16,046.26. For the month of Decem-
ber the receipts of the Coal and Iron Co. (in-
cluding the above balance from November)

126

r^-

a4.v-.

AMEtllCAN RAILROAD JOURNAL.

were $1,603,319.22, and the expenditures $1,-
565,3(;8.11», leaving a balance of $37,951.03.

From the report of the managers of the Le-
high Coal and Navigation Co., for the year end-
ing December 31, 1881, prepared for presenta-
tion at the annual meeting of the stockholders
to be held on the 28th inst., we learn Chat the
total receipts from all sources were $1,875,592.-
08, the disbursements $1,261,668.61, and the
net earnings $613,923.47; less a sinking fund of
10 cents per ton on 648,148 tons of coal, $64,-
814.80, and depreciation on coal improvements,
$65,332.85— leaving a surplus for the year of
$483,775.82, which added to balance to credit
of dividend fund December 31, 1880, $194,236.-
38, giving a total of $678,012.20; from which
deduct dividend of $1 per share on 206,567
shares, paid Dec. 3, 1881, leaves the balance to
credit of dividend fund December 31, 188 ,
$471,445.20. From this balance must be de-
ducted whatever shall be paid to the State
iinder the four-mill tax law for the years 1879,
1880 and 1881. The amount for whiclj the
company is held to be liable is $81,284.14, but
it expects to be relieved from the payment of a
considerable part of this sum. Comparing the
receipts of the company for the year 1881 with
those of the year 1880, shows an increase of
$265,915.56, to which add $25,995.95, decrease
in fixed charges, making the gain in net rev-
enue $291,911.51. In resuming the payment
of dividends, the Board deemed it wise to re-
tain a strong reserve of net earnings, under
the conviction that this policy, together ^with
a gradually increasing stock basis, and steady
reduction of the debt of the company, would
establish the stock upon a secure foundation
of productive value. The floating debt of the
company, less cash assets, is about $700,000,
agiiinst which the company holds $746,000 of
its consolidated 7 per cent bonds, $306,000
Delaware Division Canal Company bonds, and
18,901 shares of its own stock. i i

The closing quotations on Thursday were :
Adams Express, 140@145; American Express,
90@91 ; Chicago, Burlington and Quincy, 131^
@13U ; Canada Southern, 46@,46J; Chicago
and Northwestern, 129i@129|;do. pref., 138|@
139; Chicago and Alton, 128i@129A; Central
of New Jersey, 92^@92^; Central Pacific, 87f@
88; Chicago, Milwaukee and St. Paul, 107@
107| ; do. pref., — @122; Columbus, Chicago
and Indiana Central, 10@10^ ; Delaware and
Hudson Canal, 107^@108J ; Delaware, Lacka-
wanna and Western, 122|@123| ; Hannibal and
St. Joseph, 91J@92; do. pref., 93^@95J; Illi-
nois Central, 132@132^; Lake Erie and West-
ern, 27^@28J ; Lake Shore and Mich. Southern,
108J®108|; Metropolitan Elevated, 85i@85i ;
Manhattan Elevated, 52^@53 ; do. Mich. Cent.,
80@80»; New York Elevated, 103J@105^; N. Y.
Lake Erie and Western, 35^@35J ; do. pref.,
— @73 \; New York Central and Hudson River,
128|@129 ; Northern Pacific, 31i@31J ; do.
pref., 68J(a);68| ; Ohio and .Mississippi, 28|@
29 J; Pacific Mail, 39|@39|; Texas and Pacific,
37i@37| ; Union Pacific, 112^@112f ; United
States Express, 73@,75; Western Union Tele-
graph, 77^@77|; Wabash, St. Louis and Pacific ,
28@28J ; do. pref., 55J@55^ ; Wells-Fargo Ex-
press, 124@126.

The following quotations of sales of railway

and other securities, for the week, are in addi-
tion to those given elsewhere in our columns:
New York. — Atchison, Colorado and Pacific
Ist, 95 ; Boston and New York Air Line pref.,
68 ; Boston, Hartford and Erie 1st, 55; Chicago,
Burlington and Quincy 8s, 103| ; Chicago and
Northwestern 5s, S. F. 101; do. ext, 107 ; Chi-
cago and Milwaukee 1st, 119 ; Chicago, St.
Louis and New Orleans, 74 ; Chesapeake and
Ohio 1st pref., 32}; do. 2d pref., 42-} ; do. cur.
int., 47 ; do. pur. money fund., 114 ; do. 1st,
Series A, 102 ; Chicago, St. Paul, Minneapolis
and Omaha, 33f ; do. pref., 99 1 ; do. consol.,
100, Charlotte, Col. and Aug., 69 ; Cedar Falls
and Minn., Ill ; Central Iowa 33i| ; Columbia
and Greenville pref., 90 ; Cairo and Fulton 1st,
106J ; Columbus, Chicago and Indiana Central
Inc., 55\ ; do. 1st mort. Trust Co. certif. ass.
sup., 119 ; Chicago, Milwaukee and St. Paul,
La C. and Dav. div., 94 ; do. S. M. div., 103* ;
do, Chicago and Pacific W. div., 1st, 108^ ; Cin.,
nati, Indianap., St. Louis and Chicago 1st,
105i ; Chicago, St. Paul and Minneapolis 1st,
lllj ; Denver and RioGraiide61|;do. 1st, I13A;
do. 1st consol., lOli ; Dubuque and Sioux City,
83 ; East Tennessee, Virginia and Georgia, 12 ;
do. pref., 20| ; do. 1st, 115} ; do. 5s, 76.\ ; do.
inc., 53A ; Gulf. Colorado and Santa Fe 1st,
107 ; Green Bay, Winona and St. Peter, 12 ;
do. 1st, 92 ; Houston and Texas Central 1st,
Waco and Northwestern div.. Ill ; do. Western
div., 107 ; Hudson River 2d S. F., Ill ; Indi-
ana, Bloomington and Western, 40 ; do. 1st, 90 ;
Indianlapolis, Decatur and Springfield pref., 40 ;
do. 1st, 104 ; Illinois and Southern Iowa 1st,
119 ; Kansas Pacific 1st consol., 102| ; do. 6s,
Denver div. ass., 108 ; Lehigh and Wilkesbarre
consol. ass., 106 ; do Inc., 92 ; Long Island,
51§ ; do. 1st, 115 ; Lake Erie and Western, 29^ ;
do. inc., 50| ; Louisville, New Albany and Chi-
cago, 71 i ; Louisville and Nashville Gen'lmort.,
68, 96J ; Lafayette, Bloomington and Muncie
1st, 103 ; Michigan Central 8s, 104 ; do. Equip.
58, 104 ; Manhattan Beach, 30 ; Marietta and
Cincinnati 2d pref., 8 ; Missouri, Kansas and
Texas, 30|^ ; do. gen'l mort. 6s, 80 ; do. 7s,
consol., 103 ; do. 2d, 66 ; Missouri Pacific, 97^ ;
do. 3d, llOif ; Memphis and Charleston, 55i ;
Milwaukee, Lake Shore and Western, 45^ ; do.
1st, 100 ; Mobile and Ohio, 28 ; do. 1st deben.,
91 ; do. 2d deben., 60 ; do. Ist., 112 ; Metro-
politan Elevated 2d, 91 ; Minneapolis and St.
Louis 1st, Iowa Ext., 112 ; Nashville, Chatta-
nooga and St. Louis, 70] ; do. 6s, 115 ; New
York, Ontario and Western, 24} ; Norfolk and
Westei-n pref., 47 ; do. Gen'l mort., 102^ ; North-
ern Pacific 1st, 97 ; New Orleans Pacific 1st,
87 ; New Y'ork, Central subscription 6s, 102] :
Oregon Railway and Nav., 134 ; do. 1st, 106| ;
Ohio Central, 19} ; do. inc., 38^ ; do. 1st, 96 ;
Oregon Transp., 69 ; Ohio and Mississippi,
Springfield div. 1st 121 ; Ohio Southern inc., 40;
Peoria, Deciitur and Evansville, 27 1 ; do. inc.,
70 ; Rochester and Pittsburg. 29} ; do. inc.,
40 ; Richmond and Allegany, 25] ; do. 1st, 90 ;
Richmond and Danville, 219^ ;do. W. P., 254^ ;
do. 1st, 106 ; Rome, Watertown and Ogdens-
burg, 20 ; St. Louis, Kansas City and North-
em, Omaha div. 1st, 112 ; St. Paul, Minneapolis
and Manitoba, 109| ; do. 2d, 105i ; St. Paul
and Sioux City 1st, 112 ; St. Louis, Iron Moun-
tain and Southern, 5s, 80 ; do. Cairo, Arkansas

and Texas 1st, 106^ ; Southern Pacific of Cal-
ifornia 1st, 104J ; Toledo Delphos and Burling-
ton, 15 ; Texas and Pacific, 40^ ; do. inc. L.
G., 63 J ; do. Rio Grande div. 1st, 80 J ; To-
ledo, Peoria and Western Ist, 111 ; Wabash,
St. Louis and Pacific Gen'l mort. 6s, 83 ; do.
do. Chicago div., 85 ; Arkansas 7s, L. R., P.,
B. and N. O., 26 ; Alabama, Class A, 81^ ; Louis-
iana 7s, consol., 66 ; Missouri 68, 1888, 111 ;
Tennessee 6s, old, 51 ; do. new, 50 ; South Car-
olina 1st, 99} ; Am. Dist. Tel., 50 ; Canton Co.,
64 ; Sutro Tunnel, | ; Colorado Coal and Iron,
41} ; do. 6s, 85| ; Consol. Coal, 31 ; New Cen-
tral Coal, 17 ; Central Mining, IJ ; Excelsior,
IJ : Homestake, 19 ; Ontario, 35 ; Standard, 16}.

Philadelphia. -Am. S. S. Co. 6s, 107 ; Central
Transportation, 352 5 Chesapeake and Delaware
Canal 6s, 89 ; Catawis.sa new pref., 54 ; Hunt-
ingdon and Broad Top Mt. consol. 58, 88A ;
Nesquehcning Valley, 57 ; New Orleans Pacific
6s, 90 ; Philadelphia and Reading scrip, 81 ;
do. consol. mort. 6s, gold, 113 ; Philadelphia,
Wilmington and Baltimore 4s, 95 ; Pennsylva-
nia Co. 4^8, 98 ; Schuylkill Nav. 68, 1895, 68 ;
St. Paul and Duluth pref., 72 ; Texas and Pa-
cific consol. mort. 68, 97 ; do. Rio Grande div.
6s, 80 ; Warren and Franklin 7s, 111} ; West
Chester and Philadelphia 7s, 119. The latest
quotations are : City 6s, 108@118 ; do. free
of tax, 125(^^^132 ; do. 4s, new, 102@113 ; Penn-
s'^lvania State 6s, 3d series, 100@101 ; do. 5s,
new loan. 116(^^17 ; do. 4s, old, 110@112 ;
do. 4s, new, 114@.114J; Philadelphia and Read-
lug R. R., 28^@28| ; do. consol. mort. 7s, reg.,
125@126i ; do. mort. 6s, 1170120 ; do. gen'l
mort. 6s, coupon, 94i@95^; do. 7s, 1893, 120@
120J ; do. new, conv., 72|@73J ; United New
Jersey R. R. and Canal, 186J@186| ; Buffalo,
Pittsburg and Western, 15|@16 ; Pittsburg,
Titusville and Buffalo 7s, 93@94 ; Camden and
Amboy mort. Os, 1889, 113^@114 ; Pennsylvania
R. R., 60^@60| ; do. general mort. 6s, coupon,
123i@124] ; do. reg., 123i@124^ ; do. consol.
mort. 68, reg., 117^@118^ ; Little Schuj'lkill R.
R. 56]@57i ; Morris Canal, 65@69 ; do. pref.,
166]@169 ; Schuylkill Navigation, 5^(rtj6 ; do.
pref., 12^@13 ; do. 6s, 1882, 91@93 ; do. 1872,
107@108 ; Elmira and Williamsport pref., 58
@65 ; do. 6s, 115@— ; do. 5s, 95@100 ; Lehigh
Coal and Navigation, 42|@43i ; do. 6s, 1884,
105}@106i ; do. R. R. loan, 116@118 ; do. Gold
Loin, 111^@112 ; do. consol. 78, 116^(^117^ ;
Northern Pacific, 33i@34 ; do. pref., 72^72} ;
North I'ennsylvania, 63@65 ; do. 68, 105@106J ;
do. 78, 119@120 ; do. General mort. 7s, reg.,
121@123i ; Philadelphia and Erie, 14@17 ;
do. 7s, 114(^115 ; do. 5s, 105@106 ; MinehiU,
62J@62^ ; Catawissa, 16@17i ; do. pref., 54@
55i ; do. new pref., 54@54^ ; do. 78, 1900, 116^
@— ; Lehigh Valley 62@62} ; do. 68, coupon,
123@123^ ; do. reg., 123@123A ; do. 2d mort.
7s, 134@— ;do. consol. mort. 120^@122 ; Fifth
and Sixth streets (horse), 149J@150 ; Second
and Third, 109@115 ; Thirteenth and Fifteenth,
75@78 ; Spruce and Pine, 45@50 ; Green and
Coates, 70@80 ; Chestnut and Walnut, 90@91 ;
German town, 60@75 ; Union, 110@115 ; West
Philadelphia, 100@110 ; People's 14@15 ; Con-
tinental, 100@102. ^:-- ••.-;%.' ^;vl!

Baltimore. — Atlanta and Charlotte, 78 J; do.
1st, 109i; Baltimore City 6s. 1890, 116^; do. 5s,
1894, 114^; do. 5s, 1916, 121^; Canton 6s, gold,

•]■

^'Jp .V ^...JL»ifS'AijLA:JiJi-<^t:^r

AMERICAN RAILROAD JOURNAL.

127

102; Columbia and Greenville, Isfc, 104 J;
Northern Central 5s, 95^; Norfolk and Western
pref., 55 J; Ohio and Mississippi, Springfield
div. 121 ; Richmond and Alleghany, 26^ ; Vir-
ginia and Tennessee Ss, 125; Virginia Midland,
old, 130 ; do. 1st pref., 145; do. inc., 85; 1st
mort., 113; do. 2d mort.. Ill; do. 4th mort.,
55; do 5th mort., 55; Virginia Peelers, 38|;
do. coupons, 37.

Boston.— Atl&ntic and Pacific 6s, 92; do.
6s, inc., 22 J; Boston Land, 7| ; Boston, Clinton
Fitchbui^ and New Bedford, 49; Chicago, Mil-
waukee and St. Paul, Dubuque div. 68, 102;
Connotton Valley, 15|; do. 78, 81; do. Straits-
ville div. 7s, 70; Chicago, Burlington and
Quincy 4s, Denver div. ext., 83|; Cincinnati,
Sandusky and Cleveland 7s, 103i ; Connecticut
and Passumpsic Rivers R. R., 92; Flint and
Pere Marquette, 23; do. pref., 94; Fort Scott
and Gulf Branch 78, 109; Iowa Falls and Sioux
City, 80; Kansas City, Fort Scott and Gulf,
120; Kansas City, St. Joseph and Council
Bluffs 7s, 115; Louisiana and Missouri River,
13; Little Rock and Fort Smith, 57; do. 7s,
110^^; Marquette, Houghton and Ontonagon,
68, 102J ; Massachusetts Central, 18f; Mexican
Central 7s, 76; do. blocks, new, 88; Manches-
ter and Lawrence, 166; Northern Pacific 6s,
96|; New York and New England 6s, 106^;
Ogdensburg and Lake Champlain consol 6s,
98; Rutland, 3J ; do. pref., 24; do. 6s, 100^;
Summit Branch, 12; Sonora, R. R. 25; do. 7s,
84; Toledo, Delphos and Burlington, 7J; do.
inc. 15^; do. S. E. div., inc., 18 J; Wisconsin
Central, 17; Atlantic Mining, 13J; Allouez, 3;
Brunswick Antimony, 14; Catalpa, 55c.; Frank-
lin, 11 J^; Harshaw, 3; Huron, 2\; Napa consol,
Quicksilver, 6J; National, 2 J; Osceola, 30;
Pewabic, 12 A; Phcsnix, 3J; Ridge, 50c.; Silver
Islet, 18; Sullivan, 2.

How Skulls and Backbones are Built.

Business of the Suez CanaL

The year 1881 was the most prosperous that
the Suez Canal Company has yet seen — the re-
ceipts having been 51,080,3551, which is 11,-
239,866f. in excess of the receipts for the year
1880. The number of English vessels that
passed through the canal was 2,256. France
had 109 ships, Holland 70, Austria 65, Italy 51,
Spain 46, Germany 40, Egypt 11, Turkey 11,
Norway 10 and China 4. Ten years ago the
amount of coal supplied at Port Said was 126,-
600 tons ; last year it was 506,000 tons, or four
times as much ; and while the British propor-
tion of the tonnage in 1871 was 64 per cent of
the total, last year it was 82. Of share prices
some equally interesting figures are printed.
With a nominal value of 500f . they had fallen,
in 1863, to 220f. In 1869, the year the canal
was opened, they rose to 663f. ; in 1880 they
had reached 715f. and before the year closed
had touched l,327f. They advanced to l,700f.
in June of the following year, and between
that month and January last went rapidly on
to the highest point they ever reached— 3, 500f.,
to fall, ere the middle of the month came on, to
2,100f. Last year the dividend paid on these
shares was 9 per cent ; for the present year it
will probably be 12, so that 2,100f., a point to
which the shares were forced in a time of panic,
even with dividends of 12 per cent, would still
be far higher than the actual value of the
shares.

A LKCTUKE was recently delivered at Rollins
Hall, Baltimore, by Prof. H. Newell Martin, of
the biological department of the Johns Hop-
kins University, for the benefit of the employes
of the Baltimore and Ohio Railroad Company,
under the title of " How Skulls and Backbones
are Built." He compared a train of passenger
cars, with the locomotive carrying, its passen-
gers, to the skeleton of the body, carrying through
the world the various important organs — the
brain, stomach, eyes, &c. The locomotive rep-
resents the muscles, and the cars the skeleton.
The more important the organ, the more care-
fully is it protected. The skull, protecting the
brain, is the hardest part, and he said he had
no doubt of the statement he had read in a
newspaper of a woman falliLg sixty feet into a
well and not bemg killed, because she fell on
her head. He gave a clear description of the
formation of the skull, of different bones dove-
tailed and interlocked, comparing it to the
dome of some grand mosqiie. He showed by
projections on the screen various animals, crabs,
terrapins — which he called favorite Maryland
animals — the American eagle and others, illus-
trating his remarks on . he skull and the back-
bone. Prof. Martin was listened to with ap-
preciation by the audience, who were instructed
as well as entertained. Among those in attend-
ance were President and Mrs. Garrett, Samuel
Spencer, third vice-president of the company ;
Andrew Anderson, assistant to the president ;
John W. Davis, assistant to the first vice-presi-
dent ; A. J. Fairbank, general agent ; A. B.
Crane, private secretary to Mr. Garrett ; Col. J.
Spear Nicholas, J. Howard McHenry ; A. J.
Cromwell, assistant master of machinery ; Mr.
Baldwin, foreman ; Mr. Hoskins; E. E. Shel-
don, secretary of the Railroad Branch of the
Young Men's Christian Association ; Prof.
Sewell, of Johns Hopkins, and Messrs. Gra-
ham and Matthews, of the city council. Pres-
ider.t Garrett presented the lecturer at the open-
ing and congratulated him at the close.
^ i '

; . Railroads of Maine.

During the year 1881 five new railroad cor-
porations were oi^anized in the State of Maine,
viz., the Old Orchard Junction Railroad, which
runs along the beach a distance of 2^ miles ;
the Bangor and Katahdin Iron Works Railroad,
to extend from the Bangor and Piscataquis
Railroad in the town of Milo, to the Katahdin
Iron Works, 19 miles ; the Aroostook River
Railroad, from Caribou to Presque Isle village,
12i miles ; the Bridgton and Saco River Rail-
road, from Bridgton Centre to a point on the
line of the Portland and Ogdensburg in the
town of Hiram, 15^ miles ; the Lewiston and
Auburn Horse Railroad, through certain streets
in those cities, a distance of track of about five
miles. The report of the Railroad Commis-
sioners, from which the above was obtained,
says that the General Railroad Law, in its prac-
tical workings, has been found defective in
several respects. For instance, it says, the
Bangor and Katahdin Iron Works Railroad was
first organized for a narrow-gauge road; subse-
quently the company decided to build to the
standard gauge, but it was found there was no

legal way to make the change except by com-
mencing anew and organizing a second time,
which was done. The law should be amended
so as to provide for such cases as this. " We
might indicate other amendments," say the
Commissioners, " but as there will be no regu-
lar session of the Legislature until 1883, we
defer for the present from doing so." The
Commissioners state that the roads are all in
satisfactory condition. The total mileage is
1181.4. e '^■-•'■"'- -•-■■-: -"^''~ ■' '-^ : '''"V^.- >-■•'.

'The Almighty Dollar.

" Brother Smith, what does this mean? '

" What does what mean?"

" Bringing a nigger to this church.**

" It is my own church."

" Your own ? Is that any reason why you
should insult the whole congregation ?"

"But he is intelligent and well educated."

" Who cares for that. He is a nigger."

" But he is a friend of mine."

" WTiat of that ! Must you, therefore, insult
the whole congregation ?"

" But he is a Christian, and belongs to the
same denomination ?"

*• What do I care for that ? Let him go and
worship with his fellow-niggers,"

'♦ But he is worth $5,000,000." said the mer-
chant." . .

" Worth what ?" Z ^. V; ■ ''

" Five million dollars."

" Worth $5,000,000 ! Brother Smith, intro-
duce me." ...

It is a curious fact that one of the hardest
things for a public man to do is to die just at
the right time. This matter of opportune
death is very greatly neglected by a large num-
ber of persons who do not seem to know that
it is just as necessary to choose a projier time
to die— i. e., when one's popularity is at its
height — as it is to choose the time in which to
be born. When, for instance, a merchant has
toiled successfully, neglecting every holiday,
refusing all kinds of recreation, making him-
self a perfect slave to his ambition to acquire
a fortune, and so far neglecting the education
of his sons that they find it utterly impossible

to get on without spending vast sums of money,
while at the same time they are conscious of a
constitutional inability to make any for them-
selves; we say that when a merchant has made
just enough to supplj' the wants of his chil-
dren without having any balance for him.self,
it seems t<i be entirely in accordance with the
imperative demands of American society that
he shall indulge the "inspiration of removal."
When, again, a politician has used the some-
what doubtful machinery of his party to win a
prominent position and the slender profits
which generally attach to such a position in
this country, and a sudden change of adminis-
tration makes it necessary for him to earn an
honest living— a hard contingency, for which
neither nature nor inclinfttion have in any de-
gree fitted him — it would seem perfectly'
natural for him to step down and out.
But men cling to life as tenaciously as a barna-
cle to a ship. They are quietly laid aside, as
much laid aside as though they occupied their
compartment in the family vault, but still they
persist in asserting that they are alive. They
are not as honest as Chesterfield and his friend
in their old age. Chesterfield said: "The
fact is, Tyrawley and I have been dead these
two years, but w« don't choose to have it
known." ;.. ^"v :::^.y • v' /^ v' '- ^--^ '-•. . , o^' ■ 7-.. v '

a?,_ Vi";i,--'

128

AMERICAN RAILROAD JOURNAL.

statement of the Public Debt of the
United States, February 1, 1882.

DEBT BEABIMO INTEREST.

. ^ Amount

Outstanding.
6 per rent loan. 1861-'81,

continued at 3 '^ per ct. $81,624,200 00
6 per cent loan 1H4)3-'81

continued at 3 ^i per ct 47.855,700 00
5 per cent funded loan of

1881 401..503,900 00

4)^ per cent funded loan

of 1891 250.000.000 00

4 oer cent funded loan of

1907 738.788,750 00

4 per cent refunding cer-
tificates 559.100 00

3 per cent navy pension

fund U.(MK),000 00

Accrued

Interest.

$238,070 58

139,579 12

3.513.145 47

1.875,000 00

2,462,629 00

1.863 67

3.'>,t)00 00

RECAPITULATION.

Amount
Outstanding.

Interest.

Debt bearing interest in
coin, viz :

Bonds at 6 per cent., con-
tinued at S'i per cent.

Bonds at 5 per cent, con-
tinued at 3>£ per cent.

Bonds at 4 'i per cent

Bonds at 4 per cent 738.788,700 00

Refunding certificates... 579,100 00

Navy pension fund, 3 p.c 14,000,000 00

$129,479,900 00

401,503,900 00
250,000,000 00

$1,534,331,600 00 $10,218,348 15
Debt on which interest has
ceased since maturity. 13,920,005 26 662,949 73

1,104 91
1,2.t0 00

3,275 00

20,000 00

8.(KJ0 00

10,000 00

370.700 00

58,650 00

85 74
22 00

213 06
2,945 00

(MX) 00
8,439 82

170 95

76,75b 00 18.895 79
472.400 00 110.073 76
407.800,00 15,650 92

23,759 12
5,430 00

70,653 12
6,202 60

1>9,150 00
914,850 00

36,077 60

Aggregate of debt bear-
ing interest $1,534,331,600 00 $8.265,'287 84

Interest due and unpaid 1,953,060 31

DEBT ON WHICH rNTEREST HAS CEASED SINCE MATURITY

Amount Interest due
Outstanding. & unpaid.

4 to 6 per cent, old debt. mn. $57,665 00 $64,1'H 81
6 per cent. Mexican indem-
nity stock, 1846

6 per cent, bonds, 1847

6 per cent, bounty land scrip,
1847

5 per cent. Texas indemnity
bonds. 1850

5 per cent, bonds, of 1858

6 per cent, bonds, of 1860

6 per cent. 5-20 bonds, 1862,

called

6 per cent. 5-20 bonds, June,

1864, called

6 per cent. 5-20 bonds, 1865,

called

5 i)er cent. 10-40 bonds, 1864.
called

6 i>er -ent. C'onsol. bonds,

1865. called

6 per cent. Consol. bonds,

1867. calle<l 1.097.550 00 204.112 15

per cent. Consol. bonds,

1868, called •298,950 00

6 per cent, loan, Feb. 8, 1861,

matured Dec. 31, 1880 100,000 00

per cent, funded loan 1881,

^lled 2.742,200 00

Oregon War Debt, March 2,

1881, raaturtd July 1, 1881.
6 per cent loan of July 17 and

Aug. 5, 1861. matured June

»), 1881

6 per cent loan of July 17 apd

Aug., 5 1861, continued at

3Ji per cent, matured Dec.

24. 1H81, aud Jan. 29, 1882,

called

6 per cent, loan of March 3,

1863,mature(l June 30, 1881.
1-10 to 6 per cent. Treasui-y

notes, prior to 1846

1-10 to 6 per cent. Treasury

notes, 1846

6 per ct. Treat»ury notes, 1847.

3 to 6 per cent. Treasury
notes, 18.57

6 per ct. Treasury note8,1861 .

7 3-10 per cent. 3 years' Treas-
ury notes, 1861

5 per cent. 1 year note8,lK6;i..

6 per cent. 2 year notes, 1863.

6 per ct. compound interest
notes. 186:m;4

7 3-10 per cent. 3 years' Treas-
ury notes, 1864-65

6per cent, certificates of in-
debtedness, lH62-6;i

4 to 6 per cent, temporary

loan, 1864

per cent, certificates, called.

Aggregated of debt on which
Interest has ceased since
maturity $13,920,005 26 $662,949 73

DEBT BEARING NO INTEREST. ^

Demand notes, 1861-62 $59,890 00

Legal tender notes, 1862-63. ... 346,681,016 00

Certificates of Deposit 11,400,000 00

Coin certificates, 1863 6,188.120 00

Silver certificates, 1878 68,999,670 00

Unclaimed interest

"Fractional currency, 1862. ; ,

1863 and 1H64 $15,445,427 67
Less amount es- "/

limated as lost

or destroyed, :..'

act of June, •.•":;:■

21,1879 8.375,934 00

"7 069,493 67

6.316,150 00

'29,530 06

2«'.8,65(J (X)

7,093 50

82.525 35

2,668 06

6.000 00
950 00

206 00
67 00

1,700 00
3,000 00

99 00
364 60

16.300 00
43.085 00
34.200 00

1,104 43
2,166 35
1.729 80

224,290 00

45,779 89

140,900 00

4,752 92

4,000 00

253 48

2,960 00
5,000 00

244 19
394 31

7.'256 51

Asffregate of debt bearing no
tat«rMt 1439.398,189 67 $7,266 51

Debt bearing no int., viz:
Old demand and legal-
tender notes $346,740,906 00

Certificates of deiKwit 1 1,400,000 00

Coin & silver certificates. 74,187,790 00

Fractional currency 7,069,493 67

. i .: :-:-h ;-

Unclaimed interest . . .

$439,398,189 67

7,256 61

$1,987,649,794 93 $10,888,554 39

Total debt, principal and interest to date,
including interest due and unpaid. . . 11,998,638,349 32

AMOUNT IN TREASURY.

Interest due and unpaid

Debt on which interest has ceased

Interest thereon

Gold and silver certificates

U. S. notes held for redemption of cer-
tificates of deposit

Cash balance available February 1, 1882.

$1,953,060 31

13,920,005 -26

662,949 73

74,187,790 00

11.400,000 00
143,901,663 29

$246,025,468.59
Debt, less amt in Treas'y Feb. 1, 1882. . .$1,765,491,717 09
Debt, less amt in Treasury Feb. 1. 1882. . 1.752,512,880 73

Decrease of debt during the month $12 978,836 36

Decrease of debt since June 30. 1881 .

$88,085,931 25

^f:

BONDS ISSUED TO THE PACIFIC RAILROAD COMPANIES, IN-
TEREST PAYABLE IN LAWFUL MONEY.

Accrued-
Interests
not paid.
$129,425 60
31,516 00
136 182 56

Central Pacific bonds,
Kansas Pacific bonds.
Union Pacific bonds.
Cent. Branch Union

bonds, 1862-64

West'n Pacific Bonds.
Sioux City & Pacific

1862-64

• . Amount
Outstanding.
1862-64$25,885,120 00
1862-(>4 6,303,tX)0 00
27,236,512 00

1862-64
Pacific

1862.64
bonds.

1,600,000 00
1,970,560 00

1,628,320 00

8,000 00
9,852 80

8,141 60

Totals $64,623,512 00 $325,117 66

Interest paid by the United States, $.53,405,977 38; in-
terest repaid by transportation of mails, &c., $14,804,-
021,94; interest repaid by cash payments : 5 per cent,
net earnings, $655,198.87: balance of interest paid by
United States, $37,946,756.57.

The foregoing is a correct statement of the public
debt, as appears from the books and Treasurer's returns
in the Department at the close of business, January
31, 1882. Charles J. Folger,

*' Secretary of the Treasury.

Montreal and Sorel Railway.

The completidn of this road has been con-
siderably delayed notwithstanding the deter-
mined efforts of the company to have the road
in running order at the opening of navigation.
Some of the owners of the land through which
the line has been laid out, caused considerable
delay, as well as the contractors, who one after
another suspended operations after working
for some time. The company have finally set-
tled the difficulty by taking the completion of
the road into their own hands, and with this
object in view a renewed effort has been made
during the past few days to put the work
through without further delay. A new station
is in course of erection at Longrieuil, and an-
other is to be commenced at St. Lambert next
week, where an engine house is already ap-
proaching completion. The coal which was
purchased by this company last fall when it
was cheap, and stored at St. Lambert, is being
sought for by manufacturers now that the
price has gone up to nearly double the amount

that was paid for it. The company decline to
sell as they will require it all, now that their
rolling-stock is in motion again conveying lum-
ber and other railway supplies to given points
along the line, but they have loaned some on
advantageous terms. — Montreal Witness.

Mississippi Railroad Commissiom.

Mississippi is the last State to come to the
front with a railway regulation law, a bill
having passed the Legislature establishing a
railroad commission composed of three mem-
bers appointed by the Governor and holding
office for six vears. This commission is em-
powered to fix a maximum schedule of rates
for freight and passengers on all railways
within the State. It also compels the railways
to make improvements 'deemed necessary by
the commissioners for the convenience and
security of the public. It can investigate the
books and papers of all railways, can examine
all railway agents and employes, and a fine not
exceeding $5,000 and imprisonment not exceed-
ing six months are imposed on any railway
employe who violates the provisions of the act
or refu-es to obey the orders of the commis-
sion. In fact the commissioners are clothed
with inquisitorial powers almost without limit ;
and the act is condemned by the Vicksburg
lleraki, which has an idea that the raging
desire of some for positions as commissioners
' ' is greater than the desire of the people for a
railroad commission." • • : y^^ . j. " ' -

Railw^ays, etc. in British Columbia. ^

A coERESPONDENT of the Montreal Witness,
writing from New Westminster, British Co-
lumbia, says :

"Having been in this country from February
1859 to August 1866, ^nd now again for nearly
two years, I can speak comj^aratively, and may
say that the summers seem to give more rain
than formerly and the winteT.s more frost— at
least in New Westmiilster. Still, we have, up-
on the whole, a good, healthy, invigorating
climate. Our people generally thrive well.
Materially the country is progressing. The
lumbering, farming and fishing industries are
being pushed forward, while coal mining is
a very flourishing enterprise. Gold mining has
declined somewhat, but still pays well in cer-
tain localities! The progress of railway con-
struction on the Onderdonk contract gives a
fixed standard for labor and fixed prices for
produce. In more respects than one railways

are levellers. Should the western link of the^
railway from Emory to Coal Harbor be placed"
under contract within the present or next year,
our farmers will be greatly benefited by having
at hand a ready market for certain kinds of
produce for some years to come at any rate.
There is some probability of the railway from
Nanaimo to Esquimalt, known as the Island
Railway, being built in a few years. This
would benefit the islanders very much. Victo-
ria, Nanaimo and New Westminster are now
substantial towns, each backed up by farming
district, of some importance."

<i^

c;.<iy, 1. ■

'* Mother," remarked a Duluth girl, " I think
HaiTy must be going to propose to me." " Why
so, my daughter ?" queried the old lady, laying
down her spectacles, while her face beamed
like a moon on its fourteenth night. " Well,
he asked me this evening if I wasn't tired liv-
ing with such a menagerie as you and dad."

f-r::.\.:-f,^:

jjji III iiij«p*«iipiiipqF

AMERICAN RAILROAD JOURNAL.

129

North Carolina Manufactures.

The energy and shrewdness of the people
of North Carolina are evidenced in the great
number of small mills that have been built since
the war. More than eighty cotton factories, great
and small, are now running, all of which, with
a solitary exception, are owned by small share-
holders living in their immediate neighbor-
hood. In other words, the profits of the cot-
ton patchers are •invested in mills, that the
planter may make additional gains by convert-
ing his staple into yarn. Without an excep-
tion these mills have prospered, and many new
ones are now building. For these the many
rivers flowing from the mountains to the sea
furnish an unlimited supply of water-power.
Among the textiles exhibited by North Carolina
at Atlanta were some fine blankets made in
Surry county. These mills find a home market
for their entire production, and have never
been fully able to supply the demand. Their
wool is brought to their doors by the farmers
of the county, but they have not sufficient cap-
ital to take all that is offered. The fleeces are
from Merinos and Southdowns, both of which

breeds of sheep do well everywhere in the State.

A Characteristic of American Iiife.

ress has been made on the eastern section,
commencing at Callander Station, and the vig-
orous prosecution of the work on that portion
of the line during the present year provided
for. In British Columbia the work upon the
section between Savonas Ferry and Emory's
Bar is being carried on with every prospect of
its completion within the time specified in the
contract, and the line from the latter place to
Port Moody, which was carefully located during
the past season, is being placed under contract,
with a view to its completion at the same date
as the section from Savonas Ferry to Emory's
Bar. Upon the sections to be constructed by
the railway company the work has been most
energetically carried forward. During the past
summer the road has been graded for the dis-
tance of two hundred and eighteen miles, and
of this one hundred and sixty-one miles are
open for traffic. The company have in addi-
tion graded eighty-nine miles of branch lines.

pany's books. When Spalding discovered this
transaction he brought his suit to have the sale
of the stock set aside and his lien on the 180
shares enforced. A demurrer was filed to the
petition, and the Judge sustained it, holding
that Payne, who was an innocent purchaser,
was not affected by the previous mortgage.
The Chancellor alluded to the fact that a vast
deal of the business now transacted with banks

is done by the depositing of stocks and bonds
as collateral, and if everv' time a man went to a
bank with securities of this kind the bank offi-
ficers had to stop until they nuvde an examina-
tion of his title such transactions would be re-
tarded and "business stopped.

American Cars in England.

In the summer of 1836 a barefooted "boy was
on his way to Honesdale, Pa., walking the tow-
path of the Delaware and Hudson Canal. When
four miles from Port Jervis, and still forty
miles from his destination, he was overtaken
by a canal-boat. He was asked to jump aboard
the boat and ride, which he did. On the boat
was a Scotch family, just landed in America,
who were on their way to the Pennsylvania
coal fields. One of its members was a boy the
same age of the young pedestrian, eleven years.
A strong friendship grew up between the two
boys by the time they reached Honesdale. The
Scotch family went on to Carbondale, the cen-
ter of the Lackawanna coal field. The boy who
had been given the ride in the boat obtained
employment on the canal. His friend, the
Scotch boy, worked in the mines for a short
time as mule boy. Both he and the former
barefoot. boy rose in the Company's service.
The Scotch boy of forty-six years ago is Thomas
Dickson, President of the Delaware and Hud-
son Canal Company. His friend, the other
boy, is Col. F. Young, General Manager of the
Company, and President of its Albany and
Susquehanna Railroad system.— 8(m,
-^

: -Canadian Pacific Railway. 1

The Governor-General of Canada, in his
speech at the recent opening of the Dominion
Parliament, said that the work of construction
on that portion of the Canadian Pacific Rail-
way between Prince Arthur's Landing and Win-
nipeg is being pressed to completion, and it is
confidently expected that in July next railway
communication will be established between
those places. The section between Rat Port-
age and Winnipeg, one hundred and thirty-
five miles in length, has been completed and
transferred under the terms of the contract to
the Canadian Pacific Railway Company, by
whom it is now operated. Considerable prog-

It is really becoming a serious question
whether public safety will not render it neces-
sary for us to adopt the long American railroad
carriages. Now that the facility of committing
theft or murder upon isolated passengers has
been brought home to the criminal classes,
railroad crimes seem to be on the increase.
Everj' one who gets into an empty carriage
does so at the risk of a man following him and
cutting his throat. The appliances for stopping
the train in case of assault are absolutely use-
less, unless the criminal be an utter fool, for
he could easily plan his attack in a manner to
hinder his victim from toiiching the signal. A
murderer might in nine cases out of ten escape
by jumping out of the carriage when the train
is slacking speed. If Lefroy had done this, I
doubt whether Mr. Gold's murderer would ever
have been discovered. Only a few days ago I
was in a railway carriage ; opposite me was a
gentleman, and the other seats were untenan-
ted. We sat watching each other the whole
way. I thought my vis-a-vis had a bad counte-
nance ; and he, I suppose, thought the same of
me. Whenever he felt in his pocket for his
handkerchief, I made ready to throttle him. —
Lomlon Truth.

>■

Mortgaged Stock.

A DECISION of great importance to business
men and of interest to the general public was
recently rendered at Louisville, Ky., by Chan-
cellor Edwards, who wrote a long and carefully
prepared opinion sustaining his view. The
suit, as stated by the "Louisville Courier Jour-
nal, " was brought by Samuel Spalding against
E. H. Payne and E. P. Fontaine. Fontaine
owned a large majority of the stock of the Louis-
ville Transfer Company, and executed a mort-
gage to Spalding, his father-in-law, on 180
shares, to secure a debt of $4,200. The mort-
gage was recorded, but no transfer of the stock
was made on the books of the corporation to
Spalding, and Fontaine retained the certificates
in his possession. Afterward Fontaine sold
the stock to Payne, who had no knowledge of
the mortgage. Payne took the certificates and
had the stock transferred to him on the Com-

How much a man is like old shoes t-

For instance, both a soiil may lose :
Both have been tanned, both are made tight

By cobblers. Both get left and right ^
Both need a mate to be complete,

And both are made to go on feet.
They both need healing ; oft are sold,

And both in time turn all to mold.
With shoes the last is first : with men

The first shall be the la.st ; and when
The shoes wear out they're mended new.

And when men wear out they're men dead, too
They both are trod upon, and both

Will tread on others, nothing loath, j
Both have their ties, and l>oth incline :

When polished, in the world to shine
And both peg out — and would you chooee . ' , 1

To be a man or be his shoes ? 1 . . j .

Stamping Out Old Zach. — The five-cent
stamp which is in common use for ocean jxist-
age bears at present the effigA' of President
Zachary Taylor. It is a good portrait of a .stur-
dy patriot, whose memory is dear to the Amer-
ican people. Now it is announced that the
Postmaster-General proposes to abolish this
effig}'^ and substitute one of President Garfield, i
Of course it is appropriate to Keek opportuni-
ties for official honors to President Garfield's
memorj' ; but why take occasion to pay such
honors at another hero's expense ? Why stamp
out " Old Zach"? The Postmaster-General's
obliteration of President Taylor's effigy- strikes
us as a hasty act of bad taste, and we do not
believe that any friend, of President Garfield
deliberately approves it.

In excavating for the new Produce Exchange
building in this city many relics have been un- ; •
earthed which, it is thought, have been buried
ever since the demolition of old Fort (reoi^e '■■
on Bowling Green. Recently a six-pound
solid shot, with the old English broad arrow .
cast in it, in a good state of r reservation, was J-
dug up on the Beaver street side, and also a
twelve-pound solid shot, badly corroded. Both {
were exhibited in the Produce Exchange. A '
small keg, with about a shovelful of English ,
half -pennies, bearing dates from 1738 to 1745
inclusive, was also found. The coins are in a ■
good state of preservation. - ,'1 •■ J '■

An acquaintance from the country, having
visited some friends, and being about to depart,
presented a little boy— one of the family — with
half a dollar, in the presence of his mother.
"Please, is it a good one?" asked the little
fellow. " Of course it is," replied the gentleman,
surprised. " Why do j'ou ask ?" " Because I'd
rather have a bad one, and then they'll let me
keep it. If I get any good money it goes into
the bank, and I never get it f^ain.",

rsSti?*

■■..■5.V ■ CiidSt, J i.

130

AMERICAN RAILROAD JOURNAL

New York. Jan. 30, 1882.

THE THIRTY-NINTH SEMI-ANNUAL CASH Divi-
dend of the ILLINOIS CENTRAL RAILROAD
COMPANY, being three and a half {-i^i) per cent on its
capital 8tock, will be paid by the undersigned March 1,
188'2, to shareholders aa registered at the close of busi-
ness on the 11th of February, after which and until the
•tth day of March the transfer-books will be closed.

L. V. F. RANDOLPH Treasurer.

R E

THE PERFECTED

I N G T O N

PATENTS.

American and Foreign Patents procured at a moderate
cost. Patent and Trademark suits a specialty. Send
for information.

EVAN P. CEORCE, JR.,

COUNSELLOR AT LAW AND SOLICITOR OF PATENTS.
4 & 6 Warren St., N. Y.

FOR SALEJ

Six new 3ft. Gauge Locomotives. 18 to 24 tons, June,

July and August delivery.
Ten new 4ft. 8 'jin. or 5ft. Gauge Locomotives, June,

July, and August delivery.
Two new Ladder Tank Locomotives, 3ft. Gauge, 10 tons, i

May and June delivery. '

Second-hand Standard Gauge Lo<-omotives and PaE- {

senger Cars, immediate delivery.
New Box, Flat, and Gondola Cars, 4ft. 8'$in. and 3ft. j

Gauge, for immediate delivery.
New Pattsenger and Combination Cars, It. Gauge, de-
livery 30 da vs.
New Passenger and Combination Cars 4ft. 8iiin. Gauge,

delivery 60 days.
New Car Wheels, Iron and Steel Rails.
Narrow-Gauge Rolling stock a specialty.

BARROWS & CO.,

S4 Broetd-way,

NEW YORK.

TYPE-WRITER.

1 "WBITING - MACHINE which combii
itfe with rapidity and accuracy,
and economy with elegance .
and convenience.
Adapted to general use. Every machi ■»•
• i i ■ t " gu^a-ranteed.

Send for Circulars with names and testimonials
recent patrons.

E. BEMKTON & SONS,

281 and 283 Broadway, New York,
38 Madison Street, Chi'cag^o.
124 South 7th Street, Philadelphia.
91 South Howard St., Baltimore.

I . ' [Mention this paper.]

D. N. BEARDSLEY & CO.,

" ^ I MANUFACTURERS OF

Superior Oak and Chestnut Lumber,

AND RAILROAD TIES.

Ost:^ Oax T'iiara.Toer a Specisulty.

OFFICE : 9 MURRAY ST.,

NEW YORK.

HOME I

INSURANCE COMPANY OF

EW YORK,

OFFICE:' NO. 1 19 BROADWAY.

CASH CAPITAL.

Reserve for Unpaid I^remiums
Reserve for Unpaid Losses . . . .
Net Surplus

.f3,000,0(X» 00

. 1,943,733 00

245,595 m

. 1,8U6,180 90

Summary of Assets

Held iu the United States available for the PAYMENT

of LOSSES by FIRE, and for the protection of Policy

Holders of FIRE INSURANCE.

"ash in Banks $ 130,172 31

CASH ASSETS |6,995,509 26 Bonds and Mortgages, being lirst lien on

Real Estate [worth $3,600,750] 1 ,.555,858 00

United States Stocks [market value] 4,079,500 00

. ' Bank and Railroad Stocks and Bonds [mar-

: - I ket value 664,625 00

I State and Municipal Bonds [market value]. 121,750 00
I Loans on Stocks, payable on demand [mar-

i ket value of Collaterals, J341,507.50 229,750 00

Interest due on Ist January, 1882 85,819 19

Premiums uncollected and in hands of

i Agents..... 80,635 08

«|fReal£8Ute 47,399 68

TQUll.i.. $6,996,609 26

J. H. WASHBURN, Secretary.
T. B. GREENE,

W. H. BIGELOW,

Ass't Sec* 8.

CHAS. J. MARTIN, President.

A. F. WILMARTH, Vice-Pres't.

D. A .HEALD, 2d Vice-PresX

Interest allowed on Deposits subject
to Draft. Securities, &c., bought and
sold on Commission.

^^ ^ lnvestinent*Securiiies always on hand. ! '

ALOJNZO FOLLETT,

. Negotiator of prime Commer-
cial paper at Low Rates. Does
not solicit and will not take
hold of any but concerns whose
paper is A L ^ * ' ^

Paine, Webber & Co.,

Bankers and Brokers,' '^ 'i;

No. 53 Devonshire Street, Boston./; -
{Members of the Botton Stock Exchange.)

Devote special attention to the purchase and sale of
Stocks and Bonds in the Boston market, the careful se-
lection of securities for investment, and the negotiation
of commercial paper.

Wm. a. Paine. Wallace Q. Webbeb. C. H. Paine.

John H. Davis & Co.,

"■■■''- BANKERS AND BROKERS,

Wo. 11 Wall St., New Vork.

In erest allowed on temporary and standing deposits,
f tocjis and Bonds bought and sold on Commission only,
'-ither on Margin or for Investment.

Brown, Brothers & Co.|

No. 59 Wau Stikt, New Ton, ':

— BUT AND SELL — ■■•^■•

— ON —

GREAT BRITAIN, IRELAND, FRANCE. GERMANY,
BELGIUM, AND HOLLAND. -1

Issue Commercial and Travelers' Credits in Sterling, • '

AVAILABLE IN ANY PART OF THE WORLD, AND IN
FRANCS IN MARTINIQUE AND GUADALOUPE.

ake Teleohaphic Transfebs of Monet between this
and other countries, through London and Paris.

Make Collections of Drafts drawn abroatl on all points
in* the United States and Canada, and of drafts drawn in
the United States on ForeiKn Covjitries.

A. Whitney & Sons,

CAB WHEEL WORKS, ,

Callowbill and 16tli Streets, '

PHILADELPHIA, PA. '1 .

We furnish CHILLED WHEELS for Cars, Trucks, and
Tenders. CHILLED DRIVING-WHEELS and TIRES fox
Locomotives. ROLLED and HAMMERED AXLES.

WHEELS AND AXLES FITTED COMPLETE. '*■ V

MADE ENTIRELY OF 8TEL '^

ONE MAN with it can easily
moye a loaded car.

Manufactured by L P. DWIGHT,

Dealeb in Railboad Supplies,
407 LIBRAKY ST., . ,

ZTML

CAR

PUSHEE

v;.K,:fVv

^BiVIWW""

I lu.i .11111 tmmmfmm^mmarmmmmmfm

■ <

AMERICAN RAILROAD JOURNAL.

mmm

131

'^i-r>i----u:-^\-:^jn>!mi^

'."* *. W'-Xu

^#S''

T-:i

■- - 1 -' :. ■ ' ■ .

■ .:--:■■'.-.■''■■■

' :

"■ I '•' ' ^■.""

ii. ■- - ■ >-.

... ,... ■».■.;; •: . / VXi

.*• V ■ i'

VALE NT I N E:S f IT A R N I S H E S

AIt£ ON SALE IN THE FOLLOWING COUNTRIES:

t:^'

1:^-

ENGLAND.

- ._.,^..: PRANCKJJ-:y;;/;';v^;;:t;vf^^
GERMANY.

AUSTRIA.
..:.; L;-- '^v.t..: SPAIN.:;. -j,-;;.

•■w;£;■^^;:;b^:-:i^v^/^^^ india.

SWITZERLAND. -

... ^;., ITALY. ;: J\.J;: ■ ■ :':-\""''^.';-:^.'^^^ .- /

] HOLLAND.

/.- ''-' ■ 'i':-^ SCOTLAND. ■:.;:■'"';■

■:'kf-:0m^^^ RUSSIA.' :

--^"^^■■^3:';:-; . ', AUSTRALIA.

!•• \:-.ir -si-

SOUTH AMERICA.
^MEXICO.

NEW ZEALAND.
CUBA.

'■'••;;: -^tV'

> '. a ' .■*■

VALENTINE & COMPANY,

:iv:--.|;-

COACH AND CAR VARNISHES,

•-V

i^H ""*-;■-''* ■

i^A'-:

This Space to be occupied by Moller & Schumann,
Varnish Manufacturers, Brooklyn, N. Y. v f

'r»*

i • .-*

,i«^ 1?;

35- i»aj:-- ^",>"^<: jir-^%.; s

■.^:

■ i ■ " - " ■ "

- -■ ' .~ "■ \. *^- *

:r-:'^-'

■- -^ . - : '-f

'i:^<-:\. . .

:\'>r'

: \ ■ - ^ \ . ■

■*.j ■

■"-r;:^-

\ ■

;:^ •• - t

'■-■." --.'•■

■ ■ *. •■■ :

-:■" , . .•- - '.'■•■

■.-■ i!."*'-.' -*

■' .*•- :■ * .

EAMES VACWM BitAKE C6.

''m'mMW' RAILWAY trai]\ brakes," iliS:^!^::;

p. 6. Box2,8'78.] SALES OFFICE, 15 COLD ST., N. Y. Represented by THOS. PROSSER & SON.

The BAMES VACUITM BitAKE is confidently offered as the most efficient, simple, durable and cheapest Power Brake in the
market. It can be seen in operation upon oyer seyenty roads.

^' ^-/M. JV

132

AMERICAN RAILROAD JOURNAL.

WATER TUBE! STEAM BOILERS.

THE BABCOCK & WILCOX CO.,

30 Oortleincit St, New York-
lie James Street, Glasgow.

JOHN^TEPHENSONCO.

: ' [Limited.]

i»"*ii!«i4air-:

NEW YORK.

Superior Elegance, Lightness and Du-
Tability. The result of 50 years' exper^
ence. ' i

Adapted to all countries and climates
Combining all valuable improvements
Shipped to Foreign Parts with greatest
care, and at most favorable rates

flOUSA TONIC RAI LROAD

. THE ONLY LINE RUNNING
O? K I^ O TJ O- 13: O-A-I^S

Between New York, Great Barringtou, Stockbridge, Len-
ox, and Pittsfleld — the far-famed resort of the

Berkshire Hills

3f Western Massachusetts— the •'Switzerland of Ajoieriaj.

Two through trains daily between New York City an .
all points on the Housatonic Railroad, from the Granc
Central Depot via the New York, New Haven, and Hart
ford Railroad at 8:05 A. M. and 3:43 P. M.

Descriptive Guide Book sent free upon application to
the General Ticket Agent.

H. D, AVERILL, Gen'l Ticket Agent.
li. B. STILLSON, SuperinUndent.
General Offices, Bridgeport, Ct.. January 2, 1882. . _'< j

jo(inB.Davids4Co^

^r^%^%m%v^nmm^n

Ej . - . 4 r ^ J J J '« ii » -J . . .
J»G IN EEKS.Mechanics.M ill Owners.Builders, Manu-
facturers, Miners, Merchant^ Ac, will find in Moo re's
Universal A ssistant and Complete Mechanic, a work
containinflrlui6pai;es,600EnKravings,461 Tables, and over
I,000,OCOIndustriarFacts,Calculntion.s Pro<pF8e8, Secrets,
Rules, Ac, of rareutilityin 2 OTrades. A $5 bookfree by
mail for $2.50, worth its weight in gold to any Mechanic,
FarmerorBusinessMan. Affenta Wuntefl. Sure sale every-
where for all time. For 111. Contents Pamphlet, termg,
and Catalogue of aOO Practical Books, address NationaXi
Book Cik, 73 Beekman St., New York.

W NO OTHER LINE IS SUPERIOR TO THE . -

FITCHBURG RAILROAD

HOOSAC TUNNEL ROUTE

IVBSTi

6.30 A:

ACCOMMODATION.

Connecting at Syracuse, N. Y., at 7.15 P.M., with through sleeping cars for Cincinnati,
Cleveland, Toledo, DETROIT AND CHICAGO. _

'■•i'.i;

5" VL^i^lk'n

3.00 S

CINCINNATI

EXPRESS.

r-. if

Pullman Sleeping Car attached, running through to Cincinnati without change. (Only Line
running Pullman Cars from Boston.) This car runs via Erie Railway and N.Y., P. & O. R.R.,
making direct connection for Louisville, St. Louis, Kansas City, New Orleans, and all
points in Texas and New Mexico.

.-;.-<-

P. ST. LOUIS

M. EXPRESS.

THE ONLY LINE which runs a THROUGH SLEEPING-CAR from

BOSTON TO ST. LOUIS WITHOUT CHANGE!

ARRIVING AT 8.00 A.M. SECOND MORNING.

Through sleeping car for Buffalo, Toledo, Fort Wayiie, Logansport, Lafayette, Danville
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo:
Kansas, Colorado, Texas, and all points in the

SOUTHWEST.

V -..■' ■

-•' ..iA,

P. PACIFIC

M. tEXPRESS.1

The only line running a through sleeping car vii Buffalo and Detroit without change
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast, Wisconsin, Minnesota
jtnd all points in the -r -^ • -= ..,..- -;.,,!,.,,,. ^-, j^- {• > .• - ■

WEST AND NORTHWEST.

\ ;

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED.

ills Great Short Line passes through the most celebrated scenery in the country, including the famous
HOOSAC TIINNEL, four and three-quarters miles long, being the longest Tunnel
In America, and the third longest In the world.

I Ttckets, Orawinv-Room and Sleepingr-Car Accommoclations may be securecl in AdTance
I " ■ *y Applying to or Addressing ^ . -^ > 1 ■ .- ::.i '

250 WASHINGTON STREET, BOSTON. _250

j JOHN ADAMS, General Superintendent. F. 0. HEALD, Acting Gen'l Passenger and Ticket Agent.

la effect Jannarjr 9th» 188S» and aulOect to cluuiv«a.

:..v..4:i.:

• ■ ■... . . »i _;

■^fVOTVP

^^«

w^^m^i^mmmmmmmimfm

AMERICAN RAILROAD JOURNAL.

'.4.

133

E. W. Vanderbilt. K. M. Hopkins.

VANDERBILT & HOPKINS.

Railroad Ties,

Cai AMD Railroad Luhber, White ahd Yellow Pine am Oai.
130 L-iberty Street, N, Y.

Also North Carolina Pine Boards, Plank, and Dimen
si ons Lumber to order. Gteneral Railroad Supplies.

SHLIGG BROTHERS, n

;^ DESIGNERS AND ENGRAVERS ^-'.^.--'.-f

AND

PHOTO ENGRAVERS,

" ^ No. 18 Cortlandt Street,

NEW YORK.

KNOX & SHAIN^ r -

Manufacturers of Engineering and Telegraphic Instru-
ments. No. 716 Chestnut Street, Philadelphia. Two
Medals awarded by the Franklin Institute, and one by
I he Centennial.

FAIRBANSS' ^'^"''^"s'Sai.es.

eoo 2s4:o3DXF^c-£i.'no3srs.

,,v>..S

PATENTS

We continue to act as Solicitors for Patents, Caveats,
Trade Marks, Copyrights, etc., for the United States.
Canada, Cuba, England, France, Germany, etc. We
have had thirty-five years' experience.

■ Patents obtained through us are noticed in the Sci-
entific AMERICAN. ^This large and splendid Illus-
trated weekly paper, $3.20 a year,shows the Progress
of Science, is very interesting, and has an enormous
circulation. Address MUNN & CO., Patent Solici-
tors, Pub's, of Scientific American, 37 Park Row.
Mew York. Hand book about Patents frRe.

ADAPTED TO ALL CLASSES
- OF BUSINESS.

Railroad and Warehouse Tracks,

AND COPYING-PRESSES

Oldest and Largest'
Scale Works in the World.

BUY ONLY THE GENUINE.

Donnant "Warehouse Scales.

F ^ TT^ B,<^^^3 ^ JSS dc CO.,
311 Broad uay. New York.

A. Ii^ B R, I O A. NT

COMBINATION SAW.

. * jWithout Lathe.

FIDELITT AND GASQALTT GOIPANTj

CASH CAPITAL, - .... $250,000.

lPIDE33LinTY BOITOS.

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and renponsibilitr
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the faithful per
formance of the duties of employes in all positions of trust. ' . . ,

-A.OOirDE3SrT FOLIOIBS.

Policies issued against accidents causing death, or totally disabling injury, insuring from Five Hcndrsd
DoLi^ABs to Ten Thodsand in case of death, and from Thsee Dollars to Fifty weekly indemnity in case of dis
abling injuries.

WM. M. RICHARDS, Pres't.

JOHN M. CRANE, Secy.

DIR,EIOTOR*S :

Geoege T. Hope.

G. G. WlIiUAMS.

J. S. T. Stranahan.

H. B. CliAFIilN.

A. S. Barnes.

H. A. HURLBUT.

W. G. Low.
Charles Dennis.
S. B. Chittenden.

Gex)bge S. Coe.
Wm. M. Richards.
A. B. HcLL.

STEEL
CASTINGS

FROM 1-4 TO 10,000 lbs. WEIGHT. |

True io pattern, sound and solid, of uneqaaled strenfrth, toaehnesK am!

durability.
An invaluable substitute for forcings or cast^irons reqaiong three-fo!c

strenerth.
CROSS-HEADS. ROCKER- ARMS, PISTON-HEADS. FTC. foi

Locomotivos
15,000 Crank Shafts and 10.000 Gear Wheels of this steel now runnin;

prove 1 ts superiority over other Steel Cast injrs.
CRANK-SHAFTS, CROSS-HEADS and GEARING, speciaKies.
Circulars and Price Lists free. Address

CHESTER STEEL CASTING CC.

40T Library St., PH1L,ADELI"HIA
'VForks. CHESTCR. P«.

SWIFT'S IRON AND^STEEL WORKS,

26 W. THIRD ST., CINCINNATI, OHIO.

Manufacbrers of all Weights of Siandard and Narrow Gauge Ralls by the most approved process. Also Rail Fastenings,
; : :, , Steel and Bloom BoHer Plate, and Tank, Sheet and Bar Iron. i: . . > :. •, |

^''K

C3-EO.

IRON AND STEEL RAILS.

Erv-^i.iTS,

T-a TT^aJl Street, iT. "2".

Price $6 without Lathe ; withikthe, J8.

Sandusky Rail Mill Co. Jc.h.odell. agt. :

Y ■* \ 104 John St., N. Y. .

J.'---"' '■■■

■ : 'v-"-»

Address the Manufacturkks, ■ ""'.

C.M. CRANDALL & CO.,

MONTROSE. Susquehanna Co.. PA. - :

n^ew Albany Bail 9Iill Co.

STEEL RAILS,

IRON RAILS,

BLOOMS.

FOB SALE IM rOTS TO I^UIT. V

r Prompt Delivery. -'

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS,

AND FOR RE-ROLLING OLD RAILS.

OLD RAILS AND SCRAP AND CAR WHSLS BOUGHT AND SOLO.

.-u \-z^.^t.:i^r'

■^ie fc

t AMERICAN RAILROAD JOURNAL.

OI^JrTOJ=J OI^*

AMERICAN

RETRIGEMM

i i\:i

LINE,

1 : •.:

New York, Oct., 1881.

Shippers of Foreign, Domes-
tic, and Fresh Fruit, Imported

Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and at reasonable

Prices by the

HARLAN & HOLLINCSWORTH CO., Wilmington, Del.

Liquors, Patent Medicines, Es-

sential Oils, Mineral Waters,

Lager Beer, Ales and Porters,
Oysters, or, in fact, any class ol
goods that needs protection

from heat or cold while in tran-

sit to the West and Southwest,
either in Summer or Winter,

will do well to ship the same by

PARDEE CAR WORKS.

WATSONTOWN, Pa.

) will""" «, l/Vl,

PROPRIETORS.

lyfctxi'u&LOt-u.rdrs of
Mail. Baggage, Box, Gondola, Flat, Gravel, Ore, ('oal. Mine, and Hand Cars ;
Kelley's Patent Turn-Tables, and Centers for Wooden Turn-Tables; /
- Car Castings, Railroad Forgings. RoUing-Mill Castings, vi* :■.;''

, [ '■; ^ :. Bridge Bolts and Castings. ^^ ^^v . -t ^^^> ^f^ i

Jt^'We have, in connection with our Car Works, an extensive Foundry and Machine-shop, and are prepared
:o do a general Machine Business.

Chainnnn,
A.BIO PARDEE.

Treasurer and General Manager,
H. P. SNYDER.

Secretary,
N. LEISER.

NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY.

C. "W. liEAVITT, Agent. ^' :':■■■ ; <>: 'i^

•^'—t^.

the new and elegant ears of the

REPRIBEMTOR TRANSIT COMI

■■•/;.:..-■;-::; ^•-. i/rt' -.-.I:.. .--':.; ■

Guaranteed Bills of Lading will

be given. " ^ -.--^r ■■'.■. ■{■'-.■■■ -'^:i:;v-;.

Time as quick and rates as

low as b^ any first-class fast

freight line. I rrt/^ i:;

^Ship from NEW YORK via
N. Y. C. and H. R. R. 1?., St.
John's Park; from BOSTON via
Boston and Albany R. R.

Off mi uu un, m ffESTERU umm

TO TKE3 TR.A.VE!I_iIN"C3- FXJBXjIO. i ;

During the Centennial season— six months closing September 10, 1876— the Erie Railway caiTled almost
rHBBE MiLUON passengers, without a singe accident to life or limb, or the loss of a piece of baggage.

And for a whole year the official records of the United States Post Office Department show the striTala of
1 le Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competiug lines.

Facts well worthy the consideration of travelers. » -t' -t. ,

i!. S. BO'WEN, General Superintendent.

JTSO. N. ABBOTT, dm. hutenoer Agent

Railroad

For rates and information apply to

FRED'K I. EVANS,

Meral Eastern Agent ;i

92 Wall Street, - New York.

271 Broadway, New York,

232 Washington Street, Boston.

Track Scales.

AND

TESTING

MACHINES

PHILADELPHIA:
50 South Fourth Street.

newyorkT

1^ 1^ Liberty Street. '^

r PITTSBURGH:
Liberty St., cor. 7th Ave.

ST. LOUIS : ^

609 North Third Street.

NEW ORLEANS:
1 42 Cravier Street.

GORDON & DUGGAN

: m SWITCH. :

The Standard on several and in use on
twenty-five Railroads.

Combines Safety, Durability, Simplicity,
and Ijow Cost, with Fixed RaiiS.

The only movable piece weighs 375 lbs.
and is without a bolt or rivet.

E. CORDON, Treasurer,

No. 28 State Street, Boston, Mass.

THE ROGERS

LOCOMOTIVE AND MACHINE WORKS,

Faterson, N". J.

Having extensive facilities, we are now prepared t<
inmiRh promptly, of the best and most approved de
scription, either ' '

COAL. OR WOOD BVRNIMU : ^^'

"~ AND OTHKB VAKIETIKS OT ^^^ '

RAILROAD IVIACHINERT.

J. 8. ROOBR8, PretH. )
R. S. HUOHBS, .Sr«c'y. \

>If, Sup'L )

R. S. HUOHKS. .S<
WM. 8. HUDSON,

Pmtenon, H. J.

m. S. HTJO-iaiES, TxesisMrex.

44 Kxchaafti^e Place, H«w York.

■.su- .fisr"-'

. (■■'■ ■

AMERICAN RAILROAD JOURNAL.

135

t RENDLE'S PAT ENT SYSTEMS OF G LASS ROOFING.

A NOVEL and useful patent is being introduced in this country by Mr. Arthur E. Rendle, No. 7 Warren Street, New
York. It is a system of glazing known as " Rendle'a Patent System of Glazing," and is largely used abroad, especially in Eng-
land where nearly all the great railway stations, government buildings, conservatories, etc. are glazed in this way.

The principles of this method are the insertion of the glass in metal bars attached to the wood or iron work, and so
arranged that the drip from condensation is carried ofi from the interior of the light by ingeniously contrived chai iiels. Expan-
sion and contraction are also provided for, and the great feature is the fact that all filling with either putty, fult, cement or
solder is dispensed with, thus rendering the roof or skylight comparatively indestructible, and involving light expanse in repair
and maintenance The work is rapidly and economically constructed, and as more light, greater durability and large saving in
expense are obtained, the system is rapidly being adopted by numerous leading railways, manufacturers, etc., among which are
the N. Y. C. & H. R. R. R. — the Buffalo depot having been glazed with this method — the N. Y., Pa. & Ohio R. R., Cleveland
car shops, Flint and Pere Marquette R. R., etc., etc.; ana the Yale Lock Manufacturing Co., Renfrew Manufacturing Co.,
Adams, Mass., Wm. Skinner & Son, Holyoke, Mass., Hamilton Web Co., Hamilton, R. I., The American Zylonite Co.,
Adams, Mass., and others. «..^;-.*;-: -••;-..': .^ .y-y-.-':- -..-^ -y-.;;.\^-^. J-^r--' ..■:.///•>'; ^i •—•■..,. :;.-...^- - , -■ |.

The accompanying cuts show the " Ordinary '^ and " Combination " systems ; further information regarding which majr
be obtained by addressing the patentee. ,, .^:,^

:.<i: ■,^,,.:'Vi ?";.>;

.•i5r'":-je;;.

J^.^Si -V«,;

RENDLE'S PATENT OHDINARY SYSTEM.

tj.j.*.— n\i.,,^>--

.f^-:"^

SECTION OF
IRON

-'_

SYSTEM.

RENDLE'S PATENT COMBINATION SYSTEM.

V ">••■,,•

■<.: r,>>. VI

TEBTICAL BAB

HEAD OFFICE : NO. 7 WARREN STREET^

s^l^i f ::

• ■,'■>:

NEW YORK.

^£d^i^;iLiM: i&j ■

w^^^^m

136

■r ...r

■ iS'..«

AMERICAN RAILROAD JOURNAL

,M::'^

«?t?/^

fil

1 ' ■

'' ■;• •'

m .r^^.'^

..J-/ .•*

This material is iudietructible and therefore valuable for all purposes of

HEAT,

1 ' .

--A.1TID-

SOUND,

FROST-PROOFING. mWM

"■'^ ^Over 3,600,000 lbs. now in actual use ; 614,000 lbs. of which have been applied in cars as shown in diagram. -■ c

Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution. ' ■
Sample and circular free by mail.

UNITED STATES MINERAL WOOL COMPANY,

ITo. le OortlgLTicit street, ITB'W" "yOR>Ig.

NATIONAL TUBE WORKS CO.

MANUFACTURE WROUGHT IRON PIPES AND TUBES.

WORKS:

McKeesport, Penn.>
Boston, Mass.

NATIONAL SPECIAL Sm-STEEL

OFFICES:

TITRF^ I04and 1 06 John St., N.Y.

8 Pemberton Sq., Boston.
1 59 Lake St., Chicago.

KSTABLISHED IS 1836

LOBDELL CAR WHEEL COMPANY,

H^llmingtoii, Delaware.

GEORGE G. LOBDELL. President. * j

WILLL^M W. LOBDELL, Secretanf.

P. N. BRENNAN. Treasurer.

J. C. BEACH, Treas.
/ THE

C. H. ANTES, Sec'y.

ALLEN PAPER CAR WHEEL COMP'Y.

' GeuM Office, id40 Btoaflwt>^ N. Y.

Works at Pullman, III., and Hudson, New Yobk.

AN INDESTKUCriBLE WHEEL FOR PASSEN-
GER CARS AND ENGINES.

^■i

BAB cock

EITINBHISHER.

COTTOW-SEEO nULLS

For Packing Journal Boxes of Cars,

National Railway Patent Waste Co.
240 Broadway, - New York.

EAGLE
TVBE CO.

614 TO 626 WEST 24TH ST.,

New York. -

GEO. R. WOOD,

IRON AND RAILWAY BUSINESS.

V ' Steel and Iron Rails, ;

Boiler

Tubes,

Of all regular sizes, of the
best material, and
1 ' 'warranted.

enlinelthatNeyer Sleeps

SIMPLE!

EFFECTIVE ! '
1 DURABLE!

S. F. HAYWARD,-

GENERAL AGENT,
407 Broadway, N. Y.

Liocomotire Water-Grates a

specialty, and 20 per cent

below regnlar prices.

, Prices lower than other Manufacturers.

-^ ^

NO PAYMENT REQUIRED UNTHi

TUBES Are tested and

: SATISFACTORY. >n^

I N. B.— Send for Stock L.lst. %J

No. 19 WiUiam St., NEW YORK.

RAILROAD IRON.

The undersigned, agents for the nianu£M;tnrers, ar«
prepared to contract to deliver best quality American
or Welsh Steel or Iron Hails, and of any required
weight and pattern. Also Speigel and Ferro Mangauea*.

^ PEKKIIVS & €HOATE,

33 Nassau Street, ftK'W YORK.

First-Class En^lisb

lROi\ Ai\D 8TEEL RAILS

AT LONDON PRICES, F. O. B.

We also purchase all classes of Railroad Securities
and negotiate loans for Railroad Companies.

><:^^ WJW A. GUEST A CO., • ^ . ;..

Nos. 41 and 43 Pine Street, New York.

Safety Railroad Switches,

WITH MAIN TRACK UNBROKEN.

Railroad Crossings, Frogs, and Othar
Railroad Supplies.

MANUFACTTJKED BY THE

WMTON MILHOAD SWITCH CO.,

PHXL ADEIiPHT A .

Works; 33d and m^ashlnvton Ave.
Officii: 38 South 3d Streec '<-/ r

•^' ^' ' i j: '^ "-. ' ' *

i' 'V TJ^

Steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures.

SKOOND QUABTO Sbkies.— VoL. XXXVIII., No. 9.J

NEW YORK, MARCH 4, 1882.

[Whou No. 2,393.— Vol. LV.

The Hoo8a.c TunneL

From N. H. Egleston's Stokt op the Hoosac Tunnel
IN THE Atlantic Monthly.
The Hoosac Tunnel, with all the delays,
mistakes, and disappointments connected with
it, is a grand achievement. It is one of the
great works of our time. Begun, in its con-
ception, as part of a canal, its completion
marks the triumph of the railway, and the
great change of inland transportation from the
water to the land. Begun with the purpose to
make it a part of a canal which, in connection
with the Erie Canal, then in process of con-
struction, should form a great line of commu-
nication and transport between the new West
and the Atlantic markets and manufactories,
the tunnel has hardly been completed and
brought into use when the question is under
debate whether the great Erie Canal itself shall
not be abandoned, as no longer able to com-
pete with the railway. Already twenty pas-
senger and as many freight trains pass through
the tunnel daily. Every morning through this
gateway of the Green Mountains roll the cars
whose wheels the evening but one before be-
gan their revolution at St. Louis, beside the
Father of Waters. More than three hundred
cars daily carry their burden through this new
avenue of transit. Following, to a great ex-
tent, the line of the natural water-courses
on the route, the easy grades thus secured
cheapen the cost of transportation from Cali-
fornia and Dakota, from the corn-fields of
Illinois and the wheat-fields of Minnesota, to
Massachusetts Bay; and a cent less of freight
on each bushel of grain or barrel of flour
means millions of dollars saved to the con-
sumers of bread in New and in Old England.

If for nothing else the tunnel would be
worthy of notice as a triumph of engineering.
Some may think that it was only a question of
Patrick with his drill and plenty of gunpowder
and time; and that to go through a mountain
is no more than to go through a hill, or a
short rock cutting, except that the process is
lengthened with the distance. But "time is
money." It would take fifty years to go
through the Hoosac Mountain, beginning at
any point on one side, and burrowing to the
other. We could not wait for that. No one,
not even a state government, would put capital
into a work the end of which was to be reached
only after half a century. So the tunnel must
oe begun at more than one point. Here at
once is involved a nice problem of engineering.

Working simultaneously from opposite sides of
the mountain, it is no longer Patrick burrow-
ing through by whatever zigzag course he may
chance to take, but these tunnelings from
opposite sides must be so directed that they
shall finally meet, and fall into an accurate line
of adjustment. How shall this be done ? As
any one can see, who gives the matter a mo-
ment's thought, a slight deviation from the
mathematical line required would cause the
two arms of the tunnel to miss each other.
The width of the tunnel is twenty-four feet.
It is only necessary, therefore, for the ap-
proaching excavations to swerve from their
true place at the point of expected junction by
anything more than half that measure, or
twelve feet, in order to slip by each other, and
go farther and farther asunder, instead of com-
ing together. Who will measure and set the
angle which shall determine the momentous
difference in such a case between success and
failure ? The tunnel is to be nearly five miles
long. Each channel from the opposite sides
of the mountain will therefore be nearly two
miles and a half in length. The problem,
then, is to run two lines of excavation through
a mountain, with no visible point in front to
aim at, as the engineer has in the open field,
and yet to have them so nearly coincident in
direction for a distance of twelve thousand
feet each that they will not miss each other,
but form one continuous whole. No Creed-
moor rifle needs to be aimed so nicely in order
to hit the bull's-eye. No allowance for wind to
swerve, or the power of gravitation to draw
down the ball from its proper course, render
the marksman's problem so difficult of solution
as the engineer's in this case. An error in the
sighting of his instrument amounting literally
to a hair's-breadth would send the arms of his
excavation wide asunder into the bowels of the
dark rock, leaving his txinnel no tunnel at all,
but only a worm's track in the mountain. But
the problem in this instance was still further
complicated. To hasten the completion of the
tunnel by providing additional faces on which
the workmen could operate, as well as for the
purpose of ventilation, it was determined, as
we have seen, to sink a shaft from the top of
the mountain to the level of the tunnel, mid-
way between the two ends. Two factors were
thus at once added to the problem : first, to fix
so accurately the point on the mountain at
which to begin the downward excavation that
when, after working by faith for four years,
the estimated time necessary, the miners

should have reached the requisite depth, they
would be in exact line of the projected and
partly completed tunnel; and, secondly, from
that pit in the depths of the mountain, to be
able to aim their course in either direction so
correctly as to be sure of meeting the com-
pany of miners approachii^ them from both
extremes of the tunnel. In short, here were
four tunnels to be made at the base of the
mountain at one and the same time, and an-
other from the summit perpendicular to them,
and all to be exactly in the same plane, on
penalty of the failure of the entire enterprise, j

It was a difficult problem. But it was solved
most triumphantly. When the headings from the
central shaft and from the eastern portal came
together, as come together they did, their align-
ments swerved from each other by the almost in-
finitesimal space of five-sixteenths of an inch !
It was an unparalleled feat of engineering.
With the best engineering talent of Europe the
opposite arms of the Mont Cenis Tunnel had a
divergence of more than half a yard. The
office and worth of Bciei^ce were admirably
illustrated in the case of the Hoosac. It was
science applied to science which built this great
thoroughfare of traffic and travel. Its lines
and proportions were all ascertained and laid
down by scientific calculation. Patrick could
pound the drill and light the fuse that would
explode the chaises of powder; but without
scientific engineering to lay his path for him
and mark every drill hole, Patrick would have
wandered in the depths of the mountain till
doomsday, with his powder and drills, and no
practicable tunnel would have been the result.

And yet, after all, there is little to be seen of
this great work. The passing traveler by the
railway, looking from the rear of the train, as
it glides into or out of the tunnel, witnesses
nearly all that a more protracted visit would
enable him to behold. The description we
have here given will really afford one more
knowledge of this great work of art than he
will be likely to gain by a personal inspection.
Going to it, he will at the most see only the
archway at either end, and the masses of
shapeless rock which have been excavated and
used in part as an emlmnkment for the railway
approaches. He will come to the portal ex-
pecting, probably, to look through to the oppo-
site entrance — at least to see a ray of light
from that point; or, if he has been told there is
an ascending grade from either end, which
would preclude such a sight, he will still ex-
pect to look along the symmetrical archway of

t -

iU"''**Wf«;-WI'VW, ^"^T.

'?>•'>* y^-».

138

AMERICAN RAILROAD JOURNAL.

stone to such a distance within as will give
him some impression of the magnitude of the
work here wrought. But if ever such a sight
were to be had, it must have been before the
tunnel was completed and brought into use.
And what, after all, is an opening only twenty
feet in diameter in a mountain that towers
above it to the height of seventeen hundred
feet, and is almost j&ve miles from side to side ?
How could we expect the light to stream
through such a knitting-needle kind of hole ?
But whatever may once have been possible,
now that scores of trains are daily passing
through the tunnel the original dimness has
become blank darkness. A cloud of smoke
pervades it through its whole length, wafted
backward and forward to some . extent by the
occasional winds, or creeping slowly out at one
pqrtal or the other; but each passing train adds
, enough to keep the entire tunnel charged so
that practically no one can see more than a few
yards or rods, at the most, within the great
cavern. No artificial light, not even the head-
ts of the locomotives, can penetrate the
darkn^s^ for any considerable dist'ince. The
engineer se^ea nothing, but feels his way, by
faith and simple push of steam, through the
five miles of solemn gloom. If there is any
occasion for stopping him on his way through
the thick darkness, which may almost literally
be felt, the men who constantly patrol the
huge cavern to see that nothing obstructs the
passage do not think of signaling the ap-
proaching train in the common way, by means
of a red lantern. That would be useless. They
carry with them powerful torpedoes, which,
whenever there is occasion, they fasten to the
rails by means of screws. The wheels of the
locomotive, striking these, produce a loud ex-
plosion, and this is the tunnel signal to the
engineer to stop his train.

• Discrimination and Equal Terms.

ABRIDGED FBOM ADVANCE SHEETS OF THE THIBTEBHTH
ANNUAL KEPOBT OF THE MASSACHUSETTS

KAILKOAD COMMISSIONERS. j I

DuBiNG the railroad year no complaint has
been made of refusal of equal rates, or of any
kind of discrimination, except in one case,
where express trains were directed to be
stopped at a flag station at the request of two
parties only. Upon a suggestion that this was
an error, orders were at once given that all
persons should have the right to stop trains at
this point.

No law of this State requires an equal rate
per mile for fares or freights. And it is fortu-
nate that there is no such statute; for it would
prevent the trying of an experiment which is
of great interest, and which promises to be of
great service. This is the scheme of very low
suburban fares, equal for all stations within a
certain distance from Boston, which has been
inaugurated by the New York and New England
Bailroad. This company charges five cents for
every passage to or from points not more than
five miles from their Boston station. In this
way the benefits proposed by so-called " work-
in*nnen's trains " are secured in a more liberal
and more convenient way. Such fares will, in
some cases, render it economical as well as
pleasant for passengers to go out at noon, and

return after dining with their family. They
apply, also, to all the members of a family, as
well as to its head. The Fitchburg Railroad
Company has made a somewhat similar ar-
rangement, and other railroad companies are
expected to follow.

It is gratifying to know that the experiment
on the New York and New England road has
been thus far completely successful.

It seems proper to allude to a decision of the
Supreme Court, which corrects a very general
misapprehension as to the law of this State in
regard to discrimination and inequality of
rates. Since 1867 it has been believed by
lawyers and railroad men, and by the public
generally, that railroad companies were bound
to give equal rates to all customers; i. e., the
same rate for the same service ; having regard,
of course, to the quantity of freight carried at
one time. It has been supposed that a prefer-
ence by which one dealer was favored above
another, or above others, was illegal. And the
reason for the supposed legislation was held to
be, that this was not only just, but, on the
whole, that it was the best policy. And it was
thought, that, although in some isolated case
it might seem advantageous for a railroad com-
pany to prefer some person or corporation in
order to build' up a great business, or to intro-
duce a new one, yet it was deemed to be unsafe
to intrust such a power to a corporation. It
was considerefl as a stretch of legislation to
delegate to a railroad company authority to
create a monopoly such as might result from
the exercise of such a power.

So generally did this idea prevail that in
many States— indeed, in most except Massa-
chusetts — this doctrine was held to be estab-
lished by the common law, without the need
of legislation.

In Massachusetts a different doctrine pre-
vailed. And while the granting of reasonable
rates was held to be the duty of all common
carriers, including railroad companies, it was
decided that such companies might give differ-
ent rates to their customers, making them
lower for some shippers than for others. This
doctrine was laid down in the case of F'Uchbnrg
Railroad Company v. Gage, 12 Gray, 393, which
decided that "a railroad corporation is not
obliged, as a common carrier, to transport
goods and merchandise for all persons at the
same rates."

The difference between this rule and that of
other States will be seen by the following ex-
tracts from the opinions of two well-known
jurists; and such extracts might be multiplied
almost indefinitely : —

"Atoll is granted. But atoll implies uni-
formity of compensation for equality of ser-
vice. It is for the sole benefit of the corpora-
tion, and not to enable the corporation to give
discriminating advantages." — Appleton, C. J.,
New England Express Company v. Maine Central
Railrond Company, 57 Maine, 188-196.

"No special privileges should be granted to
one man, or set of men, and denied to
others. The special stipulations inserted in
charters, for the purpose of securing these
rights, are placed there in abundance of cau-
tion, and affirm nothing more than the com-
mon right to equal justice which exists inde-
pendent of such provisions. The supposed
necessity for such provisions in charters
granted in this country and in England proves
nothing more than that the law-makers in both
countries were aware of the difficulty in hold-
ing large corporations to those common obli-
gations of justice which individuals feel bound
to acknowledge without legislative enactment."
— C. J. Twiss, 24 Penn. 378.

In 1867 an attempt was apparently made to
change the law of Massachusetts, and make it
conform to that of other States, by passing
chapter 339, requiring " equal" as well as rea-
sonable terms, etc., " for all persons and com-
panies." But, as it now appears, by an unfortu-
nate choice of language, the Legislature re-
enacted the doctrines of Fitchburg Railroad Com-
pany V. Oage, instead of repealing them.

In Spofford v. Boston & Maine Railroad, 128
Mass. 326, the plaintiff, a student who had
paid the regular price of a season-ticket for
three months, showed that other students of
like age had been allowed, at the discretion of
the president, to buy such tickets at half price.
And it was held that there was not a violation
of law, and that no action could be maintained.
In giving the decision. Justice Soule says: —

"The provisions of section 138 are re-enacted
from the Statute of 1867, chapter 339, prev-
iously to which statute there was no legislative
enactment of the sort. In the year 1859, it
was decided by this Court, in Fitchburg Railroad
V. Gage, 12 Gray, 393, that the common law re-»-
quires of carriers equal justice to all; that 'the
equality which is to be observed in relation to
the public, and to every individual, consists in
the restricted right to charge, in each particular
case of service, a reasonable compensation,
and no more. If the carrier confines himself
to this, no wrong can be done, and no cause
afforded for complaint. If, for special reasons
in isolated cases, the carrier sees tit to stipulate
for the carriage of goods or merchandise of
any class for a certain time, or in certain
quantities, for less compensation than what is
the usual, necessary, and reasonable rate, he
may undoubtedly do so without thereby en-
titling all other persons and parties to the
same advantage and relief.* The Court, refer-
ring to the right of the corporation to establish
rates of toll on passengers and merchandise,
said: 'This right, however, is very fully and
reasonably subjected to legislative supervision
and control, — a provision which may be be-
lieved to be sufficient to guard the large con-
ceded power against all injustice or abuse.
And in view of this large and unqualified, and
therefore adequate supervision, the right of
railroad corporations to exact compensation
for services rendered may be considered as
conforming substantially to the rule of the
common law.' The Statute of 1867, chapter
339, re-enacted in the Statute of 1874, chapter
372, section 138, was passed after this Court
had thus defined the meaning of the words
' equal justice ' as applied to the dealings of
carriers with their customers. The similar
language, ' reasonable and equal terms, 'used in
the statute, is to be interpreled in the light of
this definition, especially as it appears, from a
comparison of diffei*ent parts of the statute,
that the words cannot have been used in a
strict literal sense."

This language is more worthy of remark be-
cause, as the judge says, the case might have
been decided under the peculiar provisions of
section 135, excepting from the general pro-
visions of the Act certain trains to be desig-
nated to carry passengers at reduced rates. But
the Court very naturally preferred to base the
decision upon the general provisions of the
statute.

It would seem clear, then, that the legal pro-
fession, and all others, have been in error in
believing that uniformity of compensation for
equality of service was the law of common car-
riers in Massachusetts, and that it is lawful for
railroad managers, for reasons satisfactory to
themselves, to give lower than ordinary rates
to one shipper than to another. The law still
requires that rates should be "reasonable;"
but if any attempt were made to enforce it,
the difference between the indefinite require-
ment of reasonableness and the fixed and
definite rule of equality would make the exac-
tion of penalties exceedingly difficult.

Whether it is desirable to change the law so
as to absolutely require equal compensation
for like service, or whether the fixing of freight
and passenger rates can best be left, as other
matters are, to the interest of the companies,
influenced by public opinion, and subject to
the inspection and public criticism of this
Board, is a question for the wisdom of the
Legislature. It has seemed to be our duty to
lay before it the decision by which the Supreme
Court has corrected an almost universal mis-
understanding of the law.

'( .•■

. -!v *!rv '^^r. -••■- ^" ^T'T*

-■^"^ -.1 .j^

AMERICAN RAZLROAD JOURNAL.

139

PUBLISHED WEEKLY BY THE

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At the annual meeting of the Amebioan Bailaoad
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QEO.F.SWAIS, President.

S. PROCTOR THAYER, Vice-President^

EDW. A. WRIGHT, Treasurer.

CHAS. T. VALENTINE, /Secretory.

New York, Saturday, March 4, 1882.

Entered at the Post Office at New York City as Second-Class
MaU Matter.

LAND, TRADE, IiABOB AND
CANNED GOODS.

T^AILINGr to create much interest at
home in his plans for regulating rail-
roads and things, Mr. F. B. Thurber
turns his attention to the enlightenment
of our British cousins on sundry matters
pertaining to land, trade, labor, and canned
goods, and with his somewhat fanciful
pen and able scissors has pointed out
to the unsuspecting statesmen on the
other side of the Atlantic some of the
breakers ahead upon which their affairs
are going to smash if they don't look out
and insist right oft' upon the principles of
anti-monopoly being pushed over here,
where their capital is invested. The arti-
cle in questioH appears in the current
number of the Nineteenth Century, is enti-
tled " Breakers Ahead," and purports to
be a careful review of the land, trade, and
labor questions from an American stand-
point. ■>-;.; c^. ■::;•, ■■-.;.-: :"-:■■■ .;:■■. v.. -->^.

The first division of the article, that re-
lating to land, is calculated to strike ter-
ror alike to the British land-owner and
farmer. The fanciful pen places the re-
sponsibility for much of the seriousness
connected with the present aspects of the
land question upon steam, poetically say-
ing that " steam lifted the cheap and fer-
tile acres of the United States and set
them down alongside those of the British
farmer ; nay, it did better than that, for

it left the land where the sun and rain
come in the proper season, and where, as
expressed by Jerrold, the soil is so fertile
that if ' tickled with a spade it will laugh
in a harvest,' and it placed the harvest in
competition with that of the less favored
isles of Britain." The pen goes on to
speak of electricity and steam, and the ef-
fect of their work on the British landlord
and tenant, either the one or the other of
whom, it says, " must go." And then the
able and discerning scissors, with an eye
ever open to business, takes up the strain
and brings to notice another terror crea-
tor in the form of canned goods, which
it is claimed are destined to further anni-
hilate agricultural pursuits on the other
side of the water. When it is remem-
bered that Mr. Thurber is conspicuously
identified with one of the most noted can-
ning establishments, or houses dealing in
canned goods, in this country, the richness
of the joke perpetrated on the English
publisher of the staid review, by the mod-
est introduction into the article of the fol-
lowing puff" of the grocer's wares, takei
from a notice of canned goods in an Ameri-
can trade paper, can be appreciated. The
able and business-like scissors elucidate
as follows: —

" Our manufacturers are learning more and more, not
only how weU the cereals, firuits, and vegetables but aU
the varieties of fowl, game, fish, and meats which here
abound, but which are perishable, may be preserved in
the most perfect manner, and kept flresh and ready for
daily use, when the period of summer has passed. As
an indication of the importance of the canning busi-
ness, it is estimated that in 1880 $40,000,000 capital was
engaged in it in the eastern and middle States alone ;
and of the single article of tomatoes 36,771,600 cans,
worth at the factories $3,381,370, were put up."

From the fact that the export demand
for these productions is increasing, the
British land-owner is informed by the can-
ner and exporter that England will have
to meet competition even in vegetables
and fruits, and must maintain her great-
ness by commerce. In this way the im-
portance of aiding in regulating transpor-
tation over here is impressed upon the
cousins over the water, and their attention
is directed to discriminations alleged to be
practiced by American railroad managers
in such a way as to make the rich richer
and the poor poorer, etc., etc. The famil-
iar reference to the monopoly of the
Standard Oil Company is made, accom
panied by the usual comments thereupon.
But we have failed to notice any allusions
to the growth of monopolies or attempts
to create them in the grocery trade. Of
course this portion of the article has no
special interest to American readers, who
understand the facts and who plainly see

the animus which inspires most of the
harangues of the alleged anti-monopolists.
The third and last division of the article
refei*s to labor, and has some general
statements of interest in regard to the
efiect of increased machinery upon labor,
and to the relations of capital to labor, as
existing here and in England. Several
citations from various authorities are apt-
ly made, notably among them being one
from an American commercial paper de-
scriptive of the remarkable possibilities of
a box-making and packing machine, said
to be of great value in the grocers' busi-
ness. It was evidently the aim of the
writer of the article in question to write
suggestively rather than thoroughly, as
he says, and the aim seems to be in the
main well accomplished.

National Railroad Commission.

At the r^ular monthly dinner of the Boston
Merchants' Association, held in Boston on the
25th nit., the chief feature of the evening was
an address by Charles Francis Adams, Jr., on
the subject of " The National Railroad Com-
mission." In the course of his remarks he
said: — v. ;'■ y'--

" Robert Stephenson said as long ^o as 1856,
in regard to railroad legislation and railroad
commissions: * What we want is a tribunal
upon these subjects competent to judge and
willing to devote its attention to railway sub
jects only. We do not impute to Parliament
that it is dishonest, but we impute that it is
incompetent. Neither its practical experience,
nor its time, nor its system of procedure are
adapted for railway legislation. • • * What
we ask is knowledge. Give us,' we say, ' a
tribunal competent to form a sound opinion.
Commit to that tribunal with any restrictions
you think necessary the whole of the great
questions appertaining to our system. Let it
protect private interests apart from railways ;
del^ate to it the power of enforcing such reg-
ulations and restrictions as may be thought
needful to secure the rights of private persons
or of the public ; devolve on it the duty of con-
solidating, if possible, the railway laws, and of
making such amendments therein as the pub-
lic interests and the property now depending
on the system may require; give it full delegated
power over us in any way you please ; aU we
ask is that it shall be a tribunal that is impartial,
and that is thoroughly informed; and, if im-
partitility and intelligence are secured, we do
not fear for the result. '

" These words truly express the situation
twenty-five years ago, and they truly express it
now. In them lies the only possible solution
of that railroad problem of which so much has
been said.

" It is because I did not go to Washington
to appear before the Committee of Commerce
that I am here this evening before you. I have
a little measure of my own to propose— a very
little one, though it has cost me a good many
years to prepare it. My measure is based on

"^^T^^ai^r ?r<^-'

140

■> . • V'-'

AMEMCAN RAILHOAD JOURNAL.

•rsajcsf^

Robert Stephenson's recommendation of twen-
ty-five years ago, and it at least has the merit
of being short and simple. It consists of four
sections, and four only, and it is, I believe,
unique in railroad legislation." Mr. Adams
then read it. It provides for a Board of three
Commissioners of Interstate Commerce as a
Bureau of the Interior Department, appointed
by the President for five years. They shall
exercise a supervision over that portion of the
business of all railroads which passes from one
State or Territory to another or to any foreign
country; limited to questions of commerce be-
tween the States, and the methods of oper-
ating roads as affecting such commerce.

They shall investigate all complaints which
may be forwarded to it of discrimination in the
charges made for its services, and shall have
power to summon witnesses. They shall pro-
cure the data necessary to the gradual enact-
ment of an intelligent system of national legis-
lation regulating interstate railroad commerce.
" I will select a board. I should say that Judge
Cooley, of Michigan, was well qualified to be
the legal member and at the head of the Com-
mission. Among practical railroad men I could
suggest several for the second place. One im-
mediately occurs to me as peculiarly qualified;
I refer to Robert Harris, now General Manager
of the Erie. Last, a statistician and economist
in Francis A. Walker, the recent chief of the
Census Bureau."

INCORPORATION.

A RAtLBOAD has been chartered to run from
Laredo up the Rio Grande to Eagle Pass.
Among the directors are John Pratt and Theo.
H. Friend, of New York. [ , |

Certificates of incorporation were filed with
the Secretary of State of Ohio, on the 23d ult.,
of the Marietta Mineral Railway Company, with
a capital of $300,000 ; and of the Cleveland,
Delphos and Western Telegraph Company, with
a capital of $50,000.

A CERTIFICATE of incorporation was filed in
the office of the Secretary of State at Albany,
N. Y., on the 28th ult. of the Saratoga, Mount
McGregor and Lake George Railroad Company,
to continue one hundred years, to run from
Saratoga to Caldwell, a distance of twenty-fivp
miles ; capital stock; $600,000. 'I

The Columbus and Eastern Railroad Com-
pany, with a capital of $1,000,000, and the
Chesapeake, Columbus and Michigan Railway
Company, with a capital of $50,000, have filed
certificates of incorporation in the office of the
Secretary of State at Columbus, Ohio. The
termini of the latter road are Columbus, and a
point on the State line between Ohio and In-
diana, in the county of Van Wert. The incor-
porators are W. W. Franklin, George Skinner,
Joseph Robinson, Chas O. Hunter and Julius
Griggs.

A BiLii granting a charter to the West Vir-
ginia and Virginia Railroad Co. has passed
both houses of the Virginia Legislature and
deceived the Governor's signature. Referring
to the above, the Alexandria Gazette says : A
railroad connection between Alexandria and
the West Virginia coal-fields is now assured,
even though the proposed extension of the

Loudoun * and Hampshire Railroad proves a
failure. A road one hundred and ten miles
long will connect the richest discovered coke
mines in the country with the Midland Rail-
road at Strasburg, and effect a saving of forty
odd miles in the route to the nearest shipping
port.

Articles of incorporation of the Louisville,
Charleston and Peoria Railroad Company were
filed with the Secretary of State of Illinois on
the 24th ult. The incorporators and first board
of directors are : Louis Monroe, 0. B. Ficklin,

A. J. Fryer, John Van Meter, J. W. Neal, W.

B. Galbreath, A. C. Barquer and J. K. Raidin,
of Charleston, HI., and Jerry Ashler, John
Gambol, Wm. Lindsay, G. W. Cooper, W. T.
Deashmutt, S. A. Fasig, Newton Tibbs, D. W.
Tibbs and T. M. Lallee, of Martinsville, HI.,
and A. G. Cowden, of Melrose, HI. The capi-
tal stock of the company is $2,000,000, and the
principal office is at Charleston. 111. The ob-
ject of the company is to construct a railroad
from Louisville, Ky., to Peoria, HI., passing
through the counties of Crawford, Clark,
Coles, Douglas, Moultree, Pratt, Macon, De-
witt, McLean, Logan and Tazewell and Peoria,
Illinois.

ORGANIZATION.

A CITY passenger railway company was or-
ganized at Altoona, Penn., on the 18th ult.
The amount of stock necessary to build and
equip the road was subscribed, and operations
will be commenced at an early day.

The directors of the Lehigh and Wilkesbarre
Coal Co. (controlled by the Central Railroad
Company of New Jersey) elected on the 23d
ult., are; F. S. Lathrop, G. Q. Haven, John
Kean, F. A. Potts, Charles Parrish, John S.
Barnes and W. H. Tillinghast.

The grantees of the Dover (N. H.) Horse
Railroad Company organized on the 24th ult.
with the following officers: President, Mayor
Charles M. Murphy; treasurer, Harrison Haley;
clerk, Thomas J. Smith. Enough money has
already been pledged to make the building of
the road assured.

At the annual meeting of the New Castle and
Lawrence Railroad Company, held at Pittsburg
on the 24th ult., the following directors were
elected: L. H. Meyer, Charles W. Cass and
Charles Lanier, New York; J. N. McCullough
and John B. Jackson, Pittsburg; A. XJ. Cun-
ningham, New Castle, and John N. Hutchinson,
Philadelphia.

At the annual meeting of the stockholders of
the Northern Central Railway Company, held
in Baltimore on the 23d ult., all the old board
of directors were re-elected except Geoi^e B.
Roberts, for whom A. J. Cassatt was substi-
tuted. At a subsequent meeting of the direct-
ors George B. Roberts was elected president.
A. J. Cassatt vice-president, John S. Leib treas-
urer, and Stephen W. White secretary.

The directors of the Ohio Central Railway
Co. (consolidated with the Atlantic and North-
western Railway Co. of West Virginia) elected
on the 23d ult., are : George I. Seney, John T.
Martin, of Brooklyn; Daniel Shethan, F. O.
French, Nelson Robinson, of New York ; D. P.

Eels, of Cleveland ; Charles Foster, Samuel
Thomas, of Columbus; C. S. Brice, of Lima;
Jos. S. Milles, of Wheeling; Thos. Ewing, of
Lancaster. ■'■:.''''■ ".'^"^ : v. •V . {%. J.vi ■

At the annual meeting of the stockholders of
the Lehigh Coal and Navigation Co., held in
Philadelphia on the 28th ult., the following
board of managers was unanimously elected:
Joseph S. Harris, president; Francis C. Yarn-
all, vice-president; Edward W. Clarke, Francis
R. Cope, Fisher Hazard, Charles Parrish,
Charles Wheeler, George Whitney, Jol^n Leis-
enring, James M. Wilcox Edward Lewis, T.
Charlton Henrj', Samuel Dickson. . t

The directors of the Camden and Atlantic
Railroad Company, elected on the 23d ult., are:
Charles D. Freeman, James B. Dayton, Enoch
Doughty, Thomas H. Dudley, Samuel C. Cooper,
Joshua R. Jones, Edmund E. Read, John B.
Hay, J. Lsm'ndes Newbold, Franklin Evans,
William Worrell and Wm. T. Ladner. Subse-
quently Charles D. Freeman was elected pres-
ident and D. M. Zimmerman secretary and
treasurer.

The stockholders of the Washington and At-
lantic Railroad Company held a meeting in
Baltimore on the 23d ult. and elected the fol-
lowing directors : F. J. Herron, W. W. Blunt,
E. C. Hancock, Jerome Bradley, Joseph Villas,
P. P. Robinson, and F. Hickman. The board
of directors subsequently elected F. J. Herron
president, and Jerome Bradley secretary and
treasurer. This company has a bill before the
State Legislature enlarging its powers. The
road is chartered to run from the terminus of
the Chesapeake and Ohio Canal at Georgetown
to Annapolis ; thence bj' steamers to the East-
em Shore, across the peninsula by rail to Lewes,
Del., which is to be a coal port, and to connect
with New York by steamer. The principal
office is to be in Baltimore. ': |

The Standard Coal and Iron Company of the
Hocking Vallej' region in Ohio, which recently
completed its organization, has chosen the fol-
lowing directors : Samuel Thomas, Columbus,
O. ; W. D. Lee, Newark, O. ; Charles Foster,
Columbus, O. ; John C. Larwell, Lowdonville,
O. ; Matthew Addy, Cincinnati; George Chap-
man, Joseph Vilas, S. B. Elkins and Walter P.
Warren, of New York, James G. Blaine, Eugene
Hale and Gen. James A. Hall, of Maine, and
Oliver Ames, J. H. Brooks and George V. W,
Dove, of Boston. The following are the of-
ficers: President, Gen. Samuel Thomas; first
vice-president and general manager, W. D. Lee;
second vice-president and treasurer, Oliver
Ames; third vice-president, J. H. Brooks; as-
sistant treasurer, Geo. Chapman. The consol-
idation companies include 30,000 acres of min-
eral lands. The capital stock of the consolida-
tion is $25,000,000. . • / .;

CONSTRUCTION.

'-^-'— ^--^ -~-"^"'

— ^-~^"-

"■•--^'^~-

The construction of the electric railway be-
tween Weisbaden and Neroberg has been begun.

Engineers are now locating a line for a rail-
road from Waynesburg, Pa., to Wheeling, West
Virginia. i .

It is quite probable that within a week ground
will be broken on the line of the Junction Rail-

AMERICAN RAILItOAI) JOURNAL.

141

road, from the Monongahela to the Alleghany

Biver. /■•■,'■:./;-. v. ■. -.:;■': .-."■■■■

A COMPANY is about to be formed in Canada
to build a railway between Levis and Sorel to
join the Intercolonial to the Montreal and Sorel
railways.

A PBOJECT is on foot to purchase the railroad
running from Hempstead to Valley Stream,
Long Island, and to lay a track from Norwood
to Pearsall's. , , ^ ; ; :

The Southern Maryland Railroad has been
finished to some three miles below Charlotte
Hall, nineteen miles from Brandywine, on the
Pope's Creek Line.

The Central Raikoad of South Carolina,
■which runs from Lanes, on the Northeastern
Railroad, to Sumter, on the Wilmington, Co-
lumbia and Augusta Railroad, was completed
on the 22d ult.

The New York and Boston Inland Railroad
Company has secured the consent of the au-
thorities for the location of its line from all the
towns between tbe Connecticut State line and
Brookline, Mass. -':■.[;■: r/r

CoNTBACTs have been given out for the Indian
River extension of the Tropical Railroad from
the junction of the Tropical, twelve miles south
of Ocala, to Leesburg, Florida, which point will
be reached by May 1.

Work on the Lake George branch of the Del-
aware and Hudson Canal Railroad is being
pushed and the road will be in operation by
June 1. The Saratoga specials will then run
through to Lake George.

The Mexican Central Railway was completed
on the 24:th ult. to a point 104 miles from Paso
del Norte. The Texas Pacific Railway Com-
pany is endeavoring to secure a Mexican grant
to construct a bridge over the Rio Grande at
El Paso to tap the Mexican Central at Paso del
Norte.

It is proposed to construct a horse railroad
in Dover, N. H., to run from the Sawyer Woolen
Mills to Garrison Hill, and with branches going
up Washington and other diverging streets.
It is expected that ultimately there will be a
spur built from Franklin square to the railway
stations.

A coNTBACT for buildiug a gap of fifty miles
of the Vicksburg, Shreveport and Texas Rail-
road, belonging to the Erlanger system, extend-
ing from Arcadia to Shreveport, was signed at
Cincinnati on the 25th ult. by the contractors,
Messrs. Rogers, Rexford and James, of New
York and New Orleans. The road is to be
completed by November 1, 1882.

The Central Railroad Company of New Jer-
sey is laying out a new route, which will open
for travel a section of the State hitherto but
little known. It runs from the Long Branch
Division at Middletown, through Chapel Hill,
to the Atlantic Highlands and down the west
side of the Shrewsbury Biver to Long Branch.
It passes directly behind the Navesink High-
lands.'.v. ■'•■".: ■'■•■' - " \/ ■. - ■://;.:;

The Newark and Delaware City Railroad will
be ready for the running of trains about the
10th of March. It will only be necessary to
build two stations, one at McWhorters, where
the N. and D. C. crosses the Delaware road, and

the other at Delaware City. The material for
these stations is ready. One of the chief uses
of the road in the beginning will be for making
a short route for passengers from down the

peninsula to Baltimore.

CONSOLIDATION.

The lease of the Indianapolis, Decatur and
Springfield Railway to the Indiana, Blooming-
ton and Western Railway Company was unan-
imously ratified at a meeting of the stockhold-
ers held at Indianapolis on the 23d ult.

The consolidation of the Toledo, Delphos
and Burlington Railroad Co. with the Toledo,
Cincinnati and St. Louis Railroad Co. was rat-
ified at a meeting of the stockholders of both
companies held at Toledo on the 23d ult. The
consolidated road is to be known as the Toledo,
Cincinnati and St. Lduis Railway, and will form
a narrow-gauge line between the cities named.

The Connecticut Western Railroad, extend-
ing from Hartford, Conn., to Millerton, N. Y.,
about 68 miles, has purchased the Rhinebeck
and Connecticut Railroad, extending from
Rhinecliff, N. Y., to Boston Four Corners,
about 35 miles in length. The Connecticut
Western Railroad Company, by this purchase,
secures important coal advantages, besides
making important connections. ,
♦-

Duty on Steel Blooms.

On the 21st day of September, 1881, Messrs.
James Lees & Company received at the port
of New York several hundred pieces of metal
weighing in the aggregate about 160,720
pounds, averaging 392 pounds each, and said
to be worth less than 7 cftnts per pound. They
were called "steel blooms," and duty was ac-
cordingly fixed thereon by the Appraiser. The
consignees appealed to the Secretary of the
Treasury from the decision of the Appraiser
and Collector of Customs. Judge Folger has
rendered an elaborate opinion, in which he re-
views the whole question and decides to adhere
to former rulings of the departments on the
subject in order to avoid reversing the decision
of his predecessors— which is forbidden by
statute. The Secretary states, however, that
the action of the Appraiser's office was, in his
opinion, erroneous, and that the appeal should
be sustained. In reviewing the case, the Sec-
retary says : " The word ' bloom ' is a word of
manufactures, commerce, and statutory law,
and may be used, and I must conclude that
when it is coupled with the word ' steel ' it is
used to carry from mind to mind the notion of
steel in some stage of manipulation of it for
the ultimate practical use of mankind. Now
what is the notion thus conveyed ? As I gather
it from the assertions and concessions made in
the argument before me, and from statements
drawn from men engaged in the working of
ores and metals, it is this. The first form of
steel as it comes from the mold or jacket is
that of a large lump or block, and it is then
known and described as an ingot, which, being
reseated, is divided into parts, which are put
under pressure or the blows of hammers,
whereby their structure is somewhat changed,
in that they are compacted, lengthened in
texture and strengthened. The idea of the

material in that changed state is now conveyed
when it is spoken of as a 'steel bloom.' So
that it ma)' be taken for the purpose of this
decision that a ' steel bloom ' is a piece of stcol,
not in its first state, but changed and improved
therefrom, in the second of the processes, more
or less continued, that are needful to bring the
metal from what may be called its raw condi-
tion to one fit for immediate use for some pur-
pose of mankind. The articles brought in by
the appellants were ' steel blooms.' What duty
shoxild have i)een charged upon them ? There
is no mention of a * steel bloom ' in the tariff
act. This, however, is not conclusive that
there is not a rate of duty especially fixed by
that act upon that article. It matters not by
what name the article is brought in, if within
the fair purview of that act it is there specifi-
cally pointed out ; and though the law-maker
may not have used the same name as the maker
or importer of the article, if in the law the
article is clearly included in any name as sub-
ject to a particular duty that duty will be
charged upon it.

"The tariff act is concise in its mention of
steel, and fixes duties in the particular and in
the general. The particular duties needed to
be here named are only these : First — 'Steel in
ingots, bars, coils, sheets, * • * valued at
7 cents per pound or less, 2\ cents per pound.'
* * * It is clear that the steel in this case was
not in sheets or coils, and though the Assistant
Appraiser has classified it as st^eel in bars, it
was not contended in oral argument before me,
that it is to be so held. I am informed also
that the word ' bars ' in the passage above
quoted has been interpreted to mean the finer
steel designed for the making of too